Not

FDIC

Insured

May

Lose

Value

No

Bank

Guarantee

FIST-Q3PH

1

Schedules

of

Investments

(unaudited)

Franklin

Adjustable

U.S.

Government

Securities

Fund

2

Franklin

Convertible

Securities

Fund

4

Franklin

Equity

Income

Fund

9

Franklin

Floating

Rate

Daily

Access

Fund

13

Franklin

Low

Duration

Total

Return

Fund

28

Franklin

Managed

Income

Fund

143

Franklin

Total

Return

Fund

152

Notes

to

Schedules

of

Investments

384

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited),

July

31,

2022

Franklin

Adjustable

U.S.

Government

Securities

Fund

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

2

a

a

Principal

Amount

a

Value

a

a

a

a

a

Commercial

Mortgage-Backed

Securities

19.6%

Diversified

Financial

Services

0.1%

a

GNMA

,

2010-12

,

FD

,

FRN

,

2.756

%

,

(

1-month

USD

LIBOR

+

0.6

%

),

1/16/40

.......

$

663,011

$

667,150

Thrifts

&

Mortgage

Finance

19.5%

a

FHLMC

,

4988,

AF,

FRN,

1.412%,

(1-month

USD

LIBOR

+

0.35%),

10/15/37

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

5,906,019

5,847,558

4891,

AF,

FRN,

1.462%,

(1-month

USD

LIBOR

+

0.4%),

7/15/42

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

10,352,466

10,243,604

343,

F4,

FRN,

1.412%,

Strip,

(1-month

USD

LIBOR

+

0.35%),

10/15/37

.........

5,658,823

5,715,297

4989,

FA,

FRN,

1.412%,

(1-month

USD

LIBOR

+

0.35%),

8/15/40

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

7,009,032

6,921,083

4915,

FE,

FRN,

1.462%,

(1-month

USD

LIBOR

+

0.4%),

2/15/38

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

10,574,196

10,521,184

4895,

GF,

FRN,

1.462%,

(1-month

USD

LIBOR

+

0.4%),

11/15/43

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

8,601,993

8,595,306

4197,

KF,

FRN,

1.362%,

(1-month

USD

LIBOR

+

0.3%),

9/15/37

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

2,804,954

2,800,757

4107,

KF,

FRN,

1.452%,

(1-month

USD

LIBOR

+

0.39%),

6/15/38

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

2,890,562

2,896,082

4215,

KF,

FRN,

1.362%,

(1-month

USD

LIBOR

+

0.3%),

2/15/40

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

2,500,685

2,496,086

4845,

QF,

FRN,

2.299%,

(1-month

USD

LIBOR

+

0.3%),

12/15/48

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

5,903,846

5,857,557

4730,

WF,

FRN,

1.412%,

(1-month

USD

LIBOR

+

0.35%),

8/15/38

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

5,111,185

5,072,159

4794,

WF,

FRN,

1.412%,

(1-month

USD

LIBOR

+

0.35%),

3/15/43

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

5,324,694

5,263,094

a

FNMA

,

2019-38,

AF,

FRN,

1.462%,

(1-month

USD

LIBOR

+

0.4%),

7/25/49

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

5,692,025

5,730,681

2019-59,

BF,

FRN,

1.462%,

(1-month

USD

LIBOR

+

0.4%),

10/25/49

...........

8,849,308

8,888,017

2019-38,

CF,

FRN,

2.709%,

(1-month

USD

LIBOR

+

0.45%),

7/25/49

...........

1,612,497

1,606,171

2020-54,

WF,

FRN,

1.512%,

(1-month

USD

LIBOR

+

0.45%),

8/25/50

..........

5,299,333

5,191,479

2021-8,

YF,

FRN,

0.853%,

(30-day

SOFR

Average

+

0.2%),

3/25/61

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

15,067,753

14,933,410

2021-36,

YF,

FRN,

0.853%,

(30-day

SOFR

Average

+

0.2%),

6/25/61

...........

7,248,792

7,156,698

115,736,223

a

a

a

a

a

Total

Commercial

Mortgage-Backed

Securities

(Cost

$117,311,353)

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

116,403,373

Mortgage-Backed

Securities

75.0%

b

Federal

Home

Loan

Mortgage

Corp.

(FHLMC)

Adjustable

Rate

19.4%

FHLMC,

1.672%,

(12-month

USD

LIBOR

+/-

MBS

Margin),

9/01/35

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

2,331,566

2,372,564

FHLMC,

2.133%,

(12-month

USD

LIBOR

+/-

MBS

Margin),

10/01/43

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

2,904,212

2,929,896

FHLMC,

2.159%,

(12-month

USD

LIBOR

+/-

MBS

Margin),

5/01/45

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

2,404,835

2,434,913

FHLMC,

2.238%,

(12-month

USD

LIBOR

+/-

MBS

Margin),

8/01/47

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

7,832,134

7,951,903

FHLMC,

2.266%,

(12-month

USD

LIBOR

+/-

MBS

Margin),

10/01/46

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

5,872,982

5,968,444

FHLMC,

2.293%,

(12-month

USD

LIBOR

+/-

MBS

Margin),

9/01/37

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

6,176,573

6,341,160

FHLMC,

2.374%,

(12-month

USD

LIBOR

+/-

MBS

Margin),

1/01/44

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

3,338,135

3,419,781

FHLMC,

2.412%,

(12-month

USD

LIBOR

+/-

MBS

Margin),

6/01/47

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

8,721,541

8,841,712

FHLMC,

2.43%,

(12-month

USD

LIBOR

+/-

MBS

Margin),

11/01/46

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

5,820,707

5,944,220

FHLMC,

2.434%,

(12-month

USD

LIBOR

+/-

MBS

Margin),

11/01/46

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

7,990,887

8,106,838

FHLMC,

2.48%,

(12-month

USD

LIBOR

+/-

MBS

Margin),

7/01/43

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

3,166,884

3,253,368

FHLMC,

2.513%,

(12-month

USD

LIBOR

+/-

MBS

Margin),

7/01/46

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

11,846,509

12,003,965

FHLMC,

2.781%,

(12-month

USD

LIBOR

+/-

MBS

Margin),

7/01/43

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

2,814,476

2,873,499

FHLMC,

2.921%,

(12-month

USD

LIBOR

+/-

MBS

Margin),

6/01/37

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

2,701,323

2,788,999

FHLMC,

2.966%,

(12-month

USD

LIBOR

+/-

MBS

Margin),

7/01/35

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

2,712,741

2,791,222

FHLMC,

1.605%

-

3.933%,

(12-month

USD

LIBOR

+/-

MBS

Margin),

8/01/33

-

11/01/41

36,223,481

37,106,155

115,128,639

Federal

Home

Loan

Mortgage

Corp.

(FHLMC)

Fixed

Rate

4.4%

FHLMC

Pool,

15

Year,

2%,

7/01/36

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

12,432,417

11,837,020

FHLMC

Pool,

15

Year,

2.5%,

3/01/35

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

14,623,952

14,319,350

26,156,370

b

Federal

National

Mortgage

Association

(FNMA)

Adjustable

Rate

44.2%

FNMA,

2.286%,

(12-month

USD

LIBOR

+/-

MBS

Margin),

11/01/34

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

2,478,024

2,551,714

FNMA,

2.423%,

(12-month

USD

LIBOR

+/-

MBS

Margin),

3/01/35

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

3,051,324

3,123,332

FNMA,

2.438%,

(12-month

USD

LIBOR

+/-

MBS

Margin),

9/01/38

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

11,264,859

11,683,028

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Adjustable

U.S.

Government

Securities

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

3

See

Abbreviations

on

page

399

.

a

a

Principal

Amount

a

Value

a

a

a

a

a

Mortgage-Backed

Securities

(continued)

b

Federal

National

Mortgage

Association

(FNMA)

Adjustable

Rate

(continued)

FNMA,

2.521%,

(12-month

USD

LIBOR

+/-

MBS

Margin),

1/01/39

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

$

2,305,011

$

2,356,090

FNMA,

2.584%,

(12-month

USD

LIBOR

+/-

MBS

Margin),

4/01/40

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

3,942,500

4,058,785

FNMA,

2.618%,

(12-month

USD

LIBOR

+/-

MBS

Margin),

4/01/44

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

53,558,829

55,287,487

FNMA,

2.657%,

(12-month

USD

LIBOR

+/-

MBS

Margin),

7/01/42

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

3,879,671

4,008,585

FNMA,

2.677%,

(12-month

USD

LIBOR

+/-

MBS

Margin),

9/01/45

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

5,131,905

5,221,357

FNMA,

2.679%,

(12-month

USD

LIBOR

+/-

MBS

Margin),

4/01/47

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

25,646,215

26,513,634

FNMA,

2.723%,

(12-month

USD

LIBOR

+/-

MBS

Margin),

5/01/47

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

8,099,890

8,291,244

FNMA,

2.966%,

(COFI

11th

District

+/-

MBS

Margin),

4/01/34

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

7,587,761

7,571,597

FNMA,

3.017%,

(1-year

CMT

T-Note

+/-

MBS

Margin),

5/01/36

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

6,764,046

7,003,865

FNMA,

1.369%

-

6.12%,

(6-month

USD

LIBOR

+/-

MBS

Margin),

10/01/22

-

5/01/48

.

123,067,030

124,802,050

FNMA,

3.464%

-

6.31%,

(6-month

H15BDI

+/-

MBS

Margin),

7/01/24

-

11/01/34

.....

55,669

57,051

262,529,819

Federal

National

Mortgage

Association

(FNMA)

Fixed

Rate

7.0%

FNMA,

15

Year,

2%,

7/01/36

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

29,539,153

28,124,503

FNMA,

15

Year,

2%,

10/01/36

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

6,084,246

5,792,868

FNMA,

15

Year,

2.5%,

3/01/35

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

7,603,584

7,417,165

41,334,536

b

Government

National

Mortgage

Association

(GNMA)

Adjustable

Rate

0.0%

†

GNMA

II,

1.625%

-

2.875%,

(1-year

CMT

T-Note

+/-

MBS

Margin),

9/20/33

-

5/20/36

.

343,926

344,876

344,876

Total

Mortgage-Backed

Securities

(Cost

$460,412,876)

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

445,494,240

Total

Long

Term

Investments

(Cost

$577,724,229)

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

561,897,613

a

a

a

a

a

Short

Term

Investments

4.8%

Shares

a

Money

Market

Funds

4.8%

c,d

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

1.445%

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

28,775,783

28,775,783

Total

Money

Market

Funds

(Cost

$28,775,783)

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

28,775,783

Total

Short

Term

Investments

(Cost

$28,775,783

)

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

28,775,783

a

Total

Investments

(Cost

$606,500,012)

99.4%

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

$590,673,396

Other

Assets,

less

Liabilities

0.6%

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

3,282,806

Net

Assets

100.0%

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

$593,956,202

†

Rounds

to

less

than

0.1%

of

net

assets.

a

The

coupon

rate

shown

represents

the

rate

inclusive

of

any

caps

or

floors,

if

applicable,

in

effect

at

period

end.

b

Adjustable

Rate

Mortgage-Backed

Security

(ARM);

the

rate

shown

is

the

effective

rate

at

period

end.

ARM

rates

are

not

based

on

a

published

reference

rate

and

spread,

but

instead

pass-through

weighted

average

interest

income

inclusive

of

any

caps

or

floors,

if

applicable,

from

the

underlying

mortgage

loans

in

which

the

majority

of

mortgages

pay

interest

based

on

the

index

shown

at

their

designated

reset

dates

plus

a

spread,

less

the

applicable

servicing

and

guaranty

fee

(MBS

margin).

c

See

Note

6

regarding

investments

in

affiliated

management

investment

companies.

d

The

rate

shown

is

the

annualized

seven-day

effective

yield

at

period

end.

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited),

July

31,

2022

Franklin

Convertible

Securities

Fund

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

4

a

a

Country

Shares

a

Value

a

a

a

a

a

a

Common

Stocks

1.4%

Health

Care

Technology

0.7%

a

Change

Healthcare,

Inc.

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

United

States

961,530

$

23,336,333

Life

Sciences

Tools

&

Services

0.7%

a

Avantor,

Inc.

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

United

States

783,731

22,743,874

Total

Common

Stocks

(Cost

$27,892,433)

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

46,080,207

Convertible

Preferred

Stocks

16.9%

Auto

Components

1.9%

b

Aptiv

plc,

5.5%,

A

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

United

States

530,000

64,273,100

Capital

Markets

2.0%

KKR

Group

Co,

Inc.,

6%,

C

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

United

States

960,000

67,200,000

Electric

Utilities

4.9%

American

Electric

Power

Co.,

Inc.,

6.125%

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

United

States

600,000

33,168,000

NextEra

Energy,

Inc.,

5.279%

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

United

States

1,100,000

57,695,000

PG&E

Corp.,

5.5%

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

United

States

430,000

44,646,900

Southern

Co.

(The),

6.75%,

2019

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

United

States

550,000

30,888,000

166,397,900

Life

Sciences

Tools

&

Services

0.6%

Danaher

Corp.,

5%,

B

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

United

States

14,045

21,374,383

Machinery

0.8%

RBC

Bearings,

Inc.,

5%,

A

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

United

States

250,000

29,092,500

Multi-Utilities

2.7%

DTE

Energy

Co.,

6.25%

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

United

States

800,000

41,304,000

NiSource,

Inc.,

7.75%

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

United

States

450,000

52,947,000

94,251,000

Semiconductors

&

Semiconductor

Equipment

2.3%

Broadcom,

Inc.,

8%,

A

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

United

States

46,100

77,346,580

Wireless

Telecommunication

Services

1.7%

c

2020

Cash

Mandatory

Exchangeable

Trust,

144A,

5.25%

.......

United

States

48,000

57,664,320

Total

Convertible

Preferred

Stocks

(Cost

$469,790,744)

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

577,599,783

Principal

Amount

*

Convertible

Bonds

80.1%

Biotechnology

5.7%

c

Ascendis

Pharma

A/S

,

Senior

Note

,

144A,

2.25

%

,

4/01/28

.......

Denmark

32,500,000

28,356,250

Insmed,

Inc.

,

Senior

Note

,

0.75

%

,

6/01/28

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

United

States

46,000,000

41,055,000

Intercept

Pharmaceuticals,

Inc.

,

Senior

Note

,

2

%

,

5/15/26

.......

United

States

21,000,000

13,822,200

Neurocrine

Biosciences,

Inc.

,

Senior

Note

,

2.25

%

,

5/15/24

......

United

States

44,750,000

58,137,757

PTC

Therapeutics,

Inc.

,

Senior

Note

,

1.5

%

,

9/15/26

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

United

States

48,000,000

51,960,000

193,331,207

Communications

Equipment

2.1%

Viavi

Solutions,

Inc.

,

Senior

Note,

1.75%,

6/01/23

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

United

States

40,969,000

46,254,001

Senior

Note,

1%,

3/01/24

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

United

States

20,000,000

24,175,000

70,429,001

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Convertible

Securities

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

5

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Convertible

Bonds

(continued)

Energy

Equipment

&

Services

0.7%

c

Oil

States

International,

Inc.

,

Senior

Note

,

144A,

4.75

%

,

4/01/26

..

United

States

28,000,000

$

24,885,000

Entertainment

2.0%

iQIYI,

Inc.

,

Senior

Note

,

2

%

,

4/01/25

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

China

26,000,000

21,322,600

Sea

Ltd.

,

Senior

Note

,

0.25

%

,

9/15/26

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

Singapore

65,000,000

48,302,715

69,625,315

Equity

Real

Estate

Investment

Trusts

(REITs)

0.8%

Pebblebrook

Hotel

Trust

,

Senior

Note

,

1.75

%

,

12/15/26

.........

United

States

26,000,000

25,831,000

Health

Care

Equipment

&

Supplies

5.5%

Dexcom,

Inc.

,

Senior

Note

,

0.25

%

,

11/15/25

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

United

States

79,000,000

75,099,375

Haemonetics

Corp.

,

Senior

Note

,

Zero

Cpn.,

3/01/26

...........

United

States

37,500,000

30,489,603

Insulet

Corp.

,

Senior

Note

,

0.375

%

,

9/01/26

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

United

States

65,000,000

81,835,000

187,423,978

Health

Care

Providers

&

Services

0.8%

Accolade,

Inc.

,

Senior

Note

,

0.5

%

,

4/01/26

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

United

States

19,000,000

13,620,625

Guardant

Health,

Inc.

,

Senior

Note

,

Zero

Cpn.,

11/15/27

........

United

States

20,000,000

14,237,500

27,858,125

Hotels,

Restaurants

&

Leisure

2.0%

b

Booking

Holdings,

Inc.

,

Senior

Note

,

0.75

%

,

5/01/25

...........

United

States

19,000,000

25,432,211

Vail

Resorts,

Inc.

,

Senior

Note

,

Zero

Cpn.,

1/01/26

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

United

States

48,000,000

43,890,000

69,322,211

Interactive

Media

&

Services

1.8%

Snap,

Inc.

,

c

Senior

Note,

144A,

0.125%,

3/01/28

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

United

States

43,000,000

29,132,500

Senior

Note,

Zero

Cpn.,

5/01/27

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

United

States

46,000,000

32,890,000

62,022,500

Internet

&

Direct

Marketing

Retail

6.1%

Etsy,

Inc.

,

Senior

Note

,

0.125

%

,

9/01/27

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

United

States

80,000,000

72,320,000

Pinduoduo,

Inc.

,

Senior

Note

,

Zero

Cpn.,

12/01/25

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

China

75,000,000

66,975,000

RealReal,

Inc.

(The)

,

Senior

Note

,

1

%

,

3/01/28

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

United

States

30,000,000

13,326,000

Wayfair,

Inc.

,

Senior

Note

,

0.625

%

,

10/01/25

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

United

States

80,000,000

54,600,000

207,221,000

IT

Services

9.0%

Block,

Inc.

,

Senior

Note,

Zero

Cpn.,

5/01/26

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

United

States

39,500,000

32,864,000

Senior

Note,

0.25%,

11/01/27

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

United

States

45,000,000

36,190,410

c

Cloudflare,

Inc.

,

Senior

Note

,

144A,

Zero

Cpn.,

8/15/26

.........

United

States

66,200,000

54,446,235

Okta,

Inc.

,

Senior

Note

,

0.125

%

,

9/01/25

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

United

States

73,000,000

68,182,000

c

Repay

Holdings

Corp.

,

Senior

Note

,

144A,

Zero

Cpn.,

2/01/26

....

United

States

19,000,000

14,782,000

Shift4

Payments,

Inc.

,

c

Senior

Note,

144A,

0.5%,

8/01/27

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

United

States

35,000,000

25,287,500

Senior

Note,

Zero

Cpn.,

12/15/25

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

United

States

36,000,000

31,117,500

Wix.com

Ltd.

,

Senior

Note,

Zero

Cpn.,

7/01/23

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

Israel

34,800,000

33,300,963

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Convertible

Securities

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

6

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Convertible

Bonds

(continued)

IT

Services

(continued)

Wix.com

Ltd.,

(continued)

Senior

Note,

Zero

Cpn.,

8/15/25

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

Israel

15,400,000

$

12,628,000

308,798,608

Life

Sciences

Tools

&

Services

0.9%

b

Illumina,

Inc.

,

Senior

Note

,

Zero

Cpn.,

8/15/23

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

United

States

25,750,000

24,668,500

NeoGenomics,

Inc.

,

Senior

Note

,

0.25

%

,

1/15/28

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

United

States

9,500,000

6,139,375

30,807,875

Media

5.5%

Cable

One,

Inc.

,

Senior

Note,

Zero

Cpn.,

3/15/26

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

United

States

48,750,000

42,022,500

Senior

Note,

1.125%,

3/15/28

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

United

States

36,250,000

31,356,250

c

Liberty

Broadband

Corp.

,

Senior

Bond,

144A,

1.25%,

9/30/50

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

United

States

57,000,000

53,295,000

Senior

Bond,

144A,

2.75%,

9/30/50

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

United

States

34,500,000

33,023,252

Liberty

Media

Corp.

,

Senior

Note

,

1.375

%

,

10/15/23

...........

United

States

21,200,000

26,849,800

186,546,802

Metals

&

Mining

1.9%

c

Ivanhoe

Mines

Ltd.

,

Senior

Note

,

144A,

2.5

%

,

4/15/26

..........

Canada

60,000,000

65,403,984

Pharmaceuticals

3.1%

Jazz

Investments

I

Ltd.

,

Senior

Note,

1.5%,

8/15/24

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

United

States

39,750,000

39,427,031

Senior

Note,

2%,

6/15/26

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

United

States

35,000,000

41,910,420

Revance

Therapeutics,

Inc.

,

Senior

Note

,

1.75

%

,

2/15/27

.......

United

States

27,000,000

22,848,750

104,186,201

Professional

Services

1.0%

c

Upwork,

Inc.

,

Senior

Note

,

144A,

0.25

%

,

8/15/26

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

United

States

44,000,000

33,973,106

Real

Estate

Management

&

Development

0.9%

Zillow

Group,

Inc.

,

Senior

Note

,

2.75

%

,

5/15/25

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

United

States

31,500,000

30,775,500

Road

&

Rail

2.3%

Lyft,

Inc.

,

Senior

Note

,

1.5

%

,

5/15/25

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

United

States

61,000,000

53,100,500

Uber

Technologies,

Inc.

,

Senior

Note

,

Zero

Cpn.,

12/15/25

......

United

States

30,000,000

25,062,435

78,162,935

Semiconductors

&

Semiconductor

Equipment

4.2%

MACOM

Technology

Solutions

Holdings,

Inc.

,

Senior

Note

,

0.25

%

,

3/15/26

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

United

States

31,000,000

30,476,875

Silicon

Laboratories,

Inc.

,

Senior

Note

,

0.625

%

,

6/15/25

........

United

States

60,000,000

80,612,975

c

Wolfspeed,

Inc.

,

Senior

Note

,

144A,

0.25

%

,

2/15/28

...........

United

States

35,000,000

33,315,625

144,405,475

Software

21.2%

Alteryx,

Inc.

,

Senior

Note,

0.5%,

8/01/24

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

United

States

20,000,000

17,675,000

Senior

Note,

1%,

8/01/26

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

United

States

20,000,000

16,050,000

c

Avalara,

Inc.

,

Senior

Note

,

144A,

0.25

%

,

8/01/26

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

United

States

70,000,000

60,375,000

Bill.com

Holdings,

Inc.

,

c

Senior

Note,

144A,

Zero

Cpn.,

4/01/27

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

United

States

37,000,000

30,266,000

Senior

Note,

Zero

Cpn.,

12/01/25

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

United

States

37,500,000

42,300,000

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Convertible

Securities

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

7

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Convertible

Bonds

(continued)

Software

(continued)

Blackline,

Inc.

,

Senior

Note

,

0.125

%

,

8/01/24

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

United

States

9,500,000

$

10,270,540

c

Confluent,

Inc.

,

Senior

Note

,

144A,

Zero

Cpn.,

1/15/27

.........

United

States

42,000,000

31,500,000

Coupa

Software,

Inc.

,

Senior

Note

,

0.375

%

,

6/15/26

...........

United

States

74,000,000

59,459,000

DocuSign,

Inc.

,

Senior

Note

,

Zero

Cpn.,

1/15/24

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

United

States

59,000,000

55,253,500

Envestnet,

Inc.

,

Senior

Note,

1.75%,

6/01/23

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

United

States

51,500,000

53,688,750

Senior

Note,

0.75%,

8/15/25

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

United

States

11,500,000

10,281,000

Guidewire

Software,

Inc.

,

Senior

Note

,

1.25

%

,

3/15/25

.........

United

States

44,000,000

42,856,000

HubSpot,

Inc.

,

Senior

Note

,

0.375

%

,

6/01/25

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

United

States

37,500,000

48,773,438

Palo

Alto

Networks,

Inc.

,

Senior

Note

,

0.75

%

,

7/01/23

..........

United

States

12,000,000

22,704,000

Q2

Holdings,

Inc.

,

Senior

Note

,

0.125

%

,

11/15/25

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

United

States

56,000,000

45,472,000

Splunk,

Inc.

,

Senior

Note,

1.125%,

9/15/25

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

United

States

22,500,000

22,612,500

Senior

Note,

1.125%,

6/15/27

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

United

States

6,500,000

5,606,250

Workday,

Inc.

,

Senior

Note

,

0.25

%

,

10/01/22

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

United

States

49,500,000

53,682,750

Workiva,

Inc.

,

Senior

Note

,

1.125

%

,

8/15/26

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

United

States

22,000,000

23,925,000

Zendesk,

Inc.

,

Senior

Note

,

0.625

%

,

6/15/25

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

United

States

74,000,000

72,520,000

725,270,728

Specialty

Retail

2.6%

Burlington

Stores,

Inc.

,

Senior

Note

,

2.25

%

,

4/15/25

...........

United

States

53,000,000

54,590,000

RH

,

Senior

Note

,

Zero

Cpn.,

9/15/24

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

United

States

24,000,000

34,185,600

88,775,600

Total

Convertible

Bonds

(Cost

$2,980,497,913)

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

2,735,056,151

Total

Long

Term

Investments

(Cost

$3,478,181,090)

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

3,358,736,141

a

Short

Term

Investments

1.7%

a

a

Country

Shares

a

Value

a

a

a

Money

Market

Funds

1.6%

d,e

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

1.445%

....

United

States

52,877,448

52,877,448

Total

Money

Market

Funds

(Cost

$52,877,448)

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

52,877,448

a

a

a

Investments

from

Cash

Collateral

Received

for

Loaned

Securities

0.1%

Money

Market

Funds

0.1%

d,e

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

1.445%

....

United

States

3,920,000

3,920,000

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Convertible

Securities

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

8

Short

Term

Investments

(continued)

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

a

Repurchase

Agreements

0.0%

†

f

Joint

Repurchase

Agreement,

BNP

Paribas

SA,

2.23%,

8/01/22

(Maturity

Value

$1,005,185)

Collateralized

by

U.S.

Treasury

Bonds,

6%

-

7.25%,

8/15/22

-

2/15/26;

U.S.

Treasury

Notes,

1.125%

-

2%,

7/31/24

-

11/15/26;

and

U.S.

Treasury

Notes,

Index

Linked,

0.125%

-

0.625%,

7/15/24

-

1/15/26

(valued

at

$1,025,098)

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

1,004,998

$

1,004,998

Total

Investments

from

Cash

Collateral

Received

for

Loaned

Securities

(Cost

$4,924,998)

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

4,924,998

Total

Short

Term

Investments

(Cost

$57,802,446

)

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

57,802,446

a

Total

Investments

(Cost

$3,535,983,536)

100.1%

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

$3,416,538,587

Other

Assets,

less

Liabilities

(0.1)%

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

(2,620,126)

Net

Assets

100.0%

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

$3,413,918,461

*

The

principal

amount

is

stated

in

U.S.

dollars

unless

otherwise

indicated.

†

Rounds

to

less

than

0.1%

of

net

assets.

a

Non-income

producing.

b

A

portion

or

all

of

the

security

is

on

loan

at

July

31,

2022.

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

July

31,

2022,

the

aggregate

value

of

these

securities

was

$575,705,772,

representing

16.9%

of

net

assets.

d

See

Note

6

regarding

investments

in

affiliated

management

investment

companies.

e

The

rate

shown

is

the

annualized

seven-day

effective

yield

at

period

end.

f

Investment

is

through

participation

in

a

joint

account

with

other

funds

managed

by

the

investment

manager

or

an

affiliate

of

the

investment

manager.

At

July

31,

2022,

all

repurchase

agreements

had

been

entered

into

on

July

29,

2022.

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited),

July

31,

2022

Franklin

Equity

Income

Fund

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

9

a

a

Country

Shares

a

Value

a

a

a

a

a

a

Common

Stocks

80.7%

Aerospace

&

Defense

3.4%

L3Harris

Technologies,

Inc.

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

United

States

73,500

$

17,637,795

Lockheed

Martin

Corp.

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

United

States

24,200

10,014,202

Raytheon

Technologies

Corp.

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

United

States

1,037,500

96,705,375

124,357,372

Air

Freight

&

Logistics

2.7%

United

Parcel

Service,

Inc.,

B

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

United

States

501,500

97,737,335

Banks

6.0%

Bank

of

America

Corp.

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

United

States

2,260,000

76,410,600

JPMorgan

Chase

&

Co.

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

United

States

975,000

112,476,000

Truist

Financial

Corp.

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

United

States

571,000

28,818,370

217,704,970

Beverages

4.0%

Coca-Cola

Co.

(The)

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

United

States

977,000

62,694,090

PepsiCo,

Inc.

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

United

States

482,500

84,418,200

147,112,290

Capital

Markets

6.5%

Ares

Management

Corp.

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

United

States

955,000

68,425,750

BlackRock,

Inc.

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

United

States

76,500

51,192,270

Morgan

Stanley

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

United

States

1,400,000

118,020,000

237,638,020

Chemicals

2.1%

BASF

SE

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

Germany

555,000

24,734,908

Huntsman

Corp.

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

United

States

910,000

26,353,600

Linde

plc

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

United

Kingdom

30,000

9,060,000

Sherwin-Williams

Co.

(The)

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

United

States

70,000

16,935,800

77,084,308

Commercial

Services

&

Supplies

1.6%

Republic

Services,

Inc.

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

United

States

411,000

56,989,260

Communications

Equipment

1.6%

Cisco

Systems,

Inc.

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

United

States

1,303,500

59,139,795

Consumer

Finance

0.4%

American

Express

Co.

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

United

States

98,000

15,093,960

Diversified

Financial

Services

1.8%

Apollo

Global

Management,

Inc.

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

United

States

1,150,000

65,665,000

Diversified

Telecommunication

Services

0.4%

TELUS

Corp.

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

Canada

634,000

14,596,111

Electric

Utilities

7.2%

Duke

Energy

Corp.

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

United

States

927,000

101,905,110

Entergy

Corp.

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

United

States

266,500

30,682,145

Evergy,

Inc.

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

United

States

435,000

29,693,100

NextEra

Energy,

Inc.

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

United

States

1,045,000

88,292,050

Xcel

Energy,

Inc.

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

United

States

135,000

9,879,300

260,451,705

Electrical

Equipment

2.1%

Eaton

Corp.

plc

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

United

States

392,500

58,243,075

Emerson

Electric

Co.

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

United

States

205,000

18,464,350

76,707,425

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Equity

Income

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

10

a

a

Country

Shares

a

Value

a

a

a

a

a

a

Common

Stocks

(continued)

Equity

Real

Estate

Investment

Trusts

(REITs)

2.2%

Healthpeak

Properties,

Inc.

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

United

States

1,200,000

$

33,156,000

Prologis,

Inc.

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

United

States

245,500

32,543,480

Public

Storage

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

United

States

40,000

13,056,400

78,755,880

Food

&

Staples

Retailing

1.1%

Walmart,

Inc.

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

United

States

300,500

39,681,025

Food

Products

0.9%

Mondelez

International,

Inc.,

A

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

United

States

502,500

32,180,100

Health

Care

Equipment

&

Supplies

2.5%

Medtronic

plc

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

United

States

995,000

92,057,400

Health

Care

Providers

&

Services

3.4%

HCA

Healthcare,

Inc.

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

United

States

255,000

54,167,100

UnitedHealth

Group,

Inc.

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

United

States

131,500

71,317,710

125,484,810

Hotels,

Restaurants

&

Leisure

1.7%

McDonald's

Corp.

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

United

States

230,000

60,575,100

Household

Products

2.7%

Procter

&

Gamble

Co.

(The)

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

United

States

710,000

98,626,100

Insurance

0.6%

Arthur

J

Gallagher

&

Co.

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

United

States

114,000

20,404,860

Life

Sciences

Tools

&

Services

1.4%

Thermo

Fisher

Scientific,

Inc.

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

United

States

83,000

49,668,030

Machinery

0.5%

Illinois

Tool

Works,

Inc.

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

United

States

83,500

17,347,960

Media

0.6%

Comcast

Corp.,

A

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

United

States

535,000

20,073,200

Multiline

Retail

2.2%

Target

Corp.

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

United

States

500,000

81,690,000

Oil,

Gas

&

Consumable

Fuels

8.1%

Canadian

Natural

Resources

Ltd.

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

Canada

385,000

21,252,000

Chevron

Corp.

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

United

States

687,000

112,516,860

EOG

Resources,

Inc.

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

United

States

385,000

42,819,700

Shell

plc,

ADR

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

Netherlands

1,135,000

60,586,300

Suncor

Energy,

Inc.

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

Canada

1,715,000

58,207,100

295,381,960

Pharmaceuticals

5.5%

AstraZeneca

plc,

ADR

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

United

Kingdom

580,000

38,413,400

Johnson

&

Johnson

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

United

States

755,000

131,762,600

Pfizer,

Inc.

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

United

States

555,000

28,033,050

198,209,050

Road

&

Rail

0.8%

Norfolk

Southern

Corp.

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

United

States

115,500

29,010,135

Semiconductors

&

Semiconductor

Equipment

1.7%

Broadcom,

Inc.

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

United

States

43,500

23,293,380

Texas

Instruments,

Inc.

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

United

States

215,000

38,461,350

61,754,730

Software

2.1%

Microsoft

Corp.

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

United

States

17,500

4,912,950

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Equity

Income

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

11

a

a

Country

Shares

a

Value

a

a

a

a

a

a

Common

Stocks

(continued)

Software

(continued)

Oracle

Corp.

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

United

States

915,000

$

71,223,600

76,136,550

Specialty

Retail

2.0%

Lowe's

Cos.,

Inc.

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

United

States

218,000

41,753,540

TJX

Cos.,

Inc.

(The)

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

United

States

162,500

9,938,500

Tractor

Supply

Co.

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

United

States

115,000

22,020,200

73,712,240

Water

Utilities

0.9%

Essential

Utilities,

Inc.

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

United

States

641,294

33,308,810

Total

Common

Stocks

(Cost

$2,037,674,559)

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

2,934,335,491

Equity-Linked

Securities

9.1%

Banks

0.6%

a

BNP

Paribas

Issuance

BV

into

Bank

of

America

Corp.,

144A,

6%,

11/08/22

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

United

States

623,500

21,416,423

Chemicals

0.5%

a

Citigroup

Global

Markets

Holdings,

Inc.

into

Huntsman

Corp.,

144A,

8.75%,

4/21/23

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

United

States

618,100

18,554,977

Consumer

Finance

0.6%

a

BNP

Paribas

Issuance

BV

into

American

Express

Co.,

144A,

6.25%,

1/27/23

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

United

States

144,000

22,557,279

Electrical

Equipment

0.5%

a

Royal

Bank

of

Canada

into

Eaton

Corp.

plc,

144A,

5.75%,

8/26/22

United

States

127,000

18,836,998

Health

Care

Providers

&

Services

0.7%

a,b

Royal

Bank

of

Canada

into

HCA

Healthcare,

Inc.,

144A,

7.25%,

8/09/23

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

United

States

112,700

23,436,150

Internet

&

Direct

Marketing

Retail

1.0%

a

Citigroup

Global

Markets

Holdings,

Inc.

into

Amazon.com,

Inc.,

144A,

6.25%,

5/12/23

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

United

States

13,000

35,638,001

Life

Sciences

Tools

&

Services

0.7%

a

Credit

Suisse

AG

into

Thermo

Fisher

Scientific,

Inc.,

144A,

4.5%,

8/05/22

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

United

States

43,000

25,193,098

Multiline

Retail

0.7%

a

Credit

Suisse

AG

into

Dollar

Tree,

Inc.,

144A,

8.25%,

7/31/23

....

United

States

150,500

25,543,032

Oil,

Gas

&

Consumable

Fuels

0.7%

a

Goldman

Sachs

International

Bank

into

Canadian

Natural

Resources

Ltd.,

144A,

9.5%,

12/30/22

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

Canada

555,000

26,465,192

Road

&

Rail

0.7%

a

Credit

Suisse

AG

into

Norfolk

Southern

Corp.,

144A,

6%,

11/18/22

United

States

100,200

25,361,242

Software

1.2%

a

Citigroup

Global

Markets

Holdings,

Inc.

into

Salesforce,

Inc.,

144A,

5%,

8/19/22

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

United

States

107,500

19,836,939

a

Royal

Bank

of

Canada

into

Microsoft

Corp.,

144A,

6%,

12/16/22

..

United

States

75,500

21,630,199

41,467,138

Specialty

Retail

1.2%

a

BNP

Paribas

Issuance

BV

into

TJX

Cos.,

Inc.

(The),

144A,

5.75%,

9/30/22

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

United

States

410,100

25,187,375

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Equity

Income

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

12

See

Abbreviations

on

page

399

.

a

a

Country

Shares

a

Value

a

a

a

a

a

a

Equity-Linked

Securities

(continued)

Specialty

Retail

(continued)

a

Citigroup

Global

Markets

Holdings,

Inc.

into

Tractor

Supply

Co.,

144A,

7.25%,

6/09/23

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

United

States

102,500

$

19,173,894

44,361,269

Total

Equity-Linked

Securities

(Cost

$355,577,357)

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

328,830,799

Convertible

Preferred

Stocks

7.4%

Capital

Markets

1.7%

KKR

Group

Co,

Inc.,

6%,

C

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

United

States

882,500

61,775,000

Health

Care

Equipment

&

Supplies

2.5%

Becton

Dickinson

and

Co.,

6%,

B

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

United

States

600,000

30,000,000

Boston

Scientific

Corp.,

5.5%,

A

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

United

States

545,000

59,306,900

89,306,900

Life

Sciences

Tools

&

Services

1.8%

Danaher

Corp.,

5%,

B

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

United

States

43,500

66,200,475

Semiconductors

&

Semiconductor

Equipment

1.4%

Broadcom,

Inc.,

8%,

A

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

United

States

31,500

52,850,700

Total

Convertible

Preferred

Stocks

(Cost

$263,481,333)

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

270,133,075

Total

Long

Term

Investments

(Cost

$2,656,733,249)

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

3,533,299,365

a

Short

Term

Investments

3.3%

a

a

Country

Shares

a

Value

a

a

a

Money

Market

Funds

3.3%

c,d

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

1.445%

....

United

States

118,808,587

118,808,587

Total

Money

Market

Funds

(Cost

$118,808,587)

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

118,808,587

Total

Short

Term

Investments

(Cost

$118,808,587

)

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

118,808,587

a

Total

Investments

(Cost

$2,775,541,836)

100.5%

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

$3,652,107,952

Other

Assets,

less

Liabilities

(0.5)%

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

(16,798,261)

Net

Assets

100.0%

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

$3,635,309,691

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

July

31,

2022,

the

aggregate

value

of

these

securities

was

$328,830,799,

representing

9.0%

of

net

assets.

b

A

portion

or

all

of

the

security

purchased

on

a

delayed

delivery

basis.

c

See

Note

6

regarding

investments

in

affiliated

management

investment

companies.

d

The

rate

shown

is

the

annualized

seven-day

effective

yield

at

period

end.

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited),

July

31,

2022

Franklin

Floating

Rate

Daily

Access

Fund

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

13

a

a

Country

Shares

a

Value

a

a

a

a

a

a

Common

Stocks

3.8%

Hotels,

Restaurants

&

Leisure

0.0%

†

a

24

Hour

Fitness

Worldwide,

Inc.

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

United

States

287,830

$

150,103

Machinery

1.2%

a

UTEX

Industries,

Inc.

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

United

States

261,340

17,901,790

Oil,

Gas

&

Consumable

Fuels

2.6%

b

Quarternorth

Energy

Holding,

Inc.

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

United

States

370,321

40,874,181

Road

&

Rail

0.0%

a,c

Onsite

Rental

Group

Operations

Pty.

Ltd.

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

Australia

11,563,612

—

Total

Common

Stocks

(Cost

$70,494,254)

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

58,926,074

Management

Investment

Companies

2.7%

Capital

Markets

2.7%

d

Franklin

Floating

Rate

Income

Fund

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

United

States

4,630,114

35,512,973

Invesco

Senior

Loan

ETF

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

United

States

280,416

5,880,323

41,393,296

Total

Management

Investment

Companies

(Cost

$51,562,905)

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

41,393,296

Preferred

Stocks

0.0%

†

Hotels,

Restaurants

&

Leisure

0.0%

†

a

24

Hour

Fitness

Worldwide,

Inc.

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

United

States

681,685

766,896

a

Total

Preferred

Stocks

(Cost

$919,936)

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

766,896

Warrants

Warrants

0.8%

Machinery

0.0%

†

a,c

UTEX

Industries,

Inc.,

2/20/49

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

United

States

634

7,635

Oil,

Gas

&

Consumable

Fuels

0.8%

a,b

Quarternorth

Energy

Holding,

Inc.,

2/01/49

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

United

States

105,425

11,636,284

Total

Warrants

(Cost

$12,703,712)

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

11,643,919

Principal

Amount

*

Corporate

Bonds

5.3%

Airlines

0.9%

e

American

Airlines

Inc/AAdvantage

Loyalty

IP

Ltd.

,

Senior

Secured

Note

,

144A,

5.5

%

,

4/20/26

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

United

States

5,800,000

5,712,246

e

Delta

Air

Lines,

Inc.

/

SkyMiles

IP

Ltd.

,

Senior

Secured

Note

,

144A,

4.5

%

,

10/20/25

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

United

States

6,000,000

5,929,511

e

United

Airlines,

Inc.

,

Senior

Secured

Note

,

144A,

4.375

%

,

4/15/26

.

United

States

2,485,000

2,389,228

14,030,985

Capital

Markets

0.1%

e

Jane

Street

Group

/

JSG

Finance,

Inc.

,

Senior

Secured

Note

,

144A,

4.5

%

,

11/15/29

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

United

States

1,600,000

1,478,304

Chemicals

0.3%

e

ASP

Unifrax

Holdings,

Inc.

,

Senior

Secured

Note

,

144A,

5.25

%

,

9/30/28

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

United

States

1,935,400

1,629,423

e

SCIH

Salt

Holdings,

Inc.

,

Senior

Secured

Note

,

144A,

4.875

%

,

5/01/28

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

United

States

3,900,000

3,396,724

5,026,147

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Floating

Rate

Daily

Access

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

14

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Corporate

Bonds

(continued)

Commercial

Services

&

Supplies

0.1%

e

GFL

Environmental,

Inc.

,

Senior

Secured

Note

,

144A,

3.5

%

,

9/01/28

Canada

2,300,000

$

2,085,537

Communications

Equipment

0.1%

e

CommScope,

Inc.

,

Senior

Secured

Note

,

144A,

4.75

%

,

9/01/29

...

United

States

2,019,200

1,760,510

Construction

Materials

0.2%

e

Cemex

SAB

de

CV

,

Senior

Bond

,

144A,

5.2

%

,

9/17/30

.........

Mexico

3,875,000

3,495,986

Containers

&

Packaging

0.4%

e

Ardagh

Packaging

Finance

plc

/

Ardagh

Holdings

USA,

Inc.

,

Senior

Secured

Note

,

144A,

4.125

%

,

8/15/26

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

United

States

3,800,000

3,373,279

e

Pactiv

Evergreen

Group

Issuer

LLC

/

Pactiv

Evergreen

Group

Issuer,

Inc.

,

Senior

Secured

Note

,

144A,

4.375

%

,

10/15/28

..........

United

States

1,125,000

997,059

e

Pactiv

Evergreen

Group

Issuer,

Inc./Pactiv

Evergreen

Group

Issuer

LLC

,

Senior

Secured

Note

,

144A,

4

%

,

10/15/27

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

United

States

2,500,000

2,206,025

6,576,363

Diversified

Consumer

Services

0.2%

e

WW

International,

Inc.

,

Senior

Secured

Note

,

144A,

4.5

%

,

4/15/29

United

States

3,500,000

2,563,628

Diversified

Financial

Services

0.1%

e

MPH

Acquisition

Holdings

LLC

,

Senior

Secured

Note

,

144A,

5.5

%

,

9/01/28

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

United

States

1,334,000

1,243,795

Diversified

Telecommunication

Services

0.3%

e

Altice

France

SA

,

Senior

Secured

Note,

144A,

5.125%,

7/15/29

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

France

2,000,000

1,714,540

Senior

Secured

Note,

144A,

5.5%,

10/15/29

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

France

3,730,000

3,212,463

4,927,003

Energy

Equipment

&

Services

0.1%

e

Weatherford

International

Ltd.

,

Senior

Secured

Note

,

144A,

6.5

%

,

9/15/28

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

United

States

714,300

680,892

Hotels,

Restaurants

&

Leisure

0.1%

e

International

Game

Technology

plc

,

Senior

Secured

Note

,

144A,

5.25

%

,

1/15/29

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

United

States

2,300,000

2,224,307

Independent

Power

and

Renewable

Electricity

Producers

0.2%

e

Calpine

Corp.

,

Senior

Secured

Note

,

144A,

4.5

%

,

2/15/28

.......

United

States

3,500,000

3,400,250

Insurance

0.1%

e

Acrisure

LLC

/

Acrisure

Finance,

Inc.

,

Senior

Secured

Note

,

144A,

4.25

%

,

2/15/29

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

United

States

1,470,600

1,302,338

Media

0.4%

e

Diamond

Sports

Group

LLC

/

Diamond

Sports

Finance

Co.

,

Senior

Secured

Note

,

144A,

5.375

%

,

8/15/26

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

United

States

5,300,000

1,172,625

e

Directv

Financing

LLC

/

Directv

Financing

Co-Obligor,

Inc.

,

Senior

Secured

Note

,

144A,

5.875

%

,

8/15/27

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

United

States

4,300,000

4,013,427

e

Univision

Communications,

Inc.

,

Senior

Secured

Note

,

144A,

5.125

%

,

2/15/25

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

United

States

1,555,556

1,514,590

6,700,642

Oil,

Gas

&

Consumable

Fuels

0.2%

Cheniere

Energy,

Inc.

,

Senior

Note

,

4.625

%

,

10/15/28

..........

United

States

2,400,000

2,339,880

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Floating

Rate

Daily

Access

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

15

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Corporate

Bonds

(continued)

Road

&

Rail

1.3%

e

First

Student

Bidco,

Inc.

/

First

Transit

Parent,

Inc.

,

Senior

Secured

Note

,

144A,

4

%

,

7/31/29

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

United

States

500,000

$

442,287

c,f

Onsite

Rental

Group

Operations

Pty.

Ltd.

,

PIK,

6.1

%

,

10/26/23

...

Australia

21,096,262

18,992,610

19,434,897

Specialty

Retail

0.1%

e

99

Escrow

Issuer,

Inc.

,

Senior

Secured

Note

,

144A,

7.5

%

,

1/15/26

United

States

2,500,000

1,693,613

Wireless

Telecommunication

Services

0.1%

e

Vmed

O2

UK

Financing

I

plc

,

Senior

Secured

Bond

,

144A,

4.25

%

,

1/31/31

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

United

Kingdom

1,430,000

1,255,676

Total

Corporate

Bonds

(Cost

$96,456,313)

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

82,220,753

Senior

Floating

Rate

Interests

81.5%

Aerospace

&

Defense

1.3%

f,g

Alloy

FinCo

Ltd.

,

Term

Loan,

B

,

0.5

%

,

PIK,

(

1-month

USD

LIBOR

+

0.5%;

3-month

USD

LIBOR

+

0.5%

),

3/06/25

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

United

Kingdom

10,611,024

10,546,032

h,i

Cobham

Ultra

US

Co-Borrower

LLC

,

Term

Loan

,

TBD,

11/17/28

..

United

States

2,181,208

2,102,826

g

Dynasty

Acquisition

Co.,

Inc.

,

2020

Term

Loan,

B1,

5.872%,

(1-month

USD

LIBOR

+

3.5%),

4/06/26

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

United

States

4,783,028

4,531,920

2020

Term

Loan,

B2,

5.872%,

(1-month

USD

LIBOR

+

3.5%),

4/06/26

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

United

States

2,571,521

2,436,516

19,617,294

a

a

a

a

a

a

Air

Freight

&

Logistics

0.4%

g

Kenan

Advantage

Group,

Inc.

(The)

,

U.S.

Term

Loan,

B1

,

6.122

%

,

(

1-month

USD

LIBOR

+

3.75

%

),

3/24/26

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

United

States

7,528,968

7,104,296

g

Airlines

2.3%

AAdvantage

Loyalty

IP

Ltd.

(American

Airlines,

Inc.)

,

Initial

Term

Loan

,

7.46

%

,

(

3-month

USD

LIBOR

+

4.75

%

),

4/20/28

........

United

States

4,048,233

3,997,630

Air

Canada

,

Term

Loan

,

4.25

%

,

(

3-month

USD

LIBOR

+

3.5

%

),

8/11/28

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

Canada

4,228,682

4,085,203

American

Airlines,

Inc.

,

2017

Term

Loan,

B,

2.84%,

(3-month

USD

LIBOR

+

2%),

12/15/23

United

States

2,500,000

2,461,913

i

2018

Replacement

Term

Loan,

4.05%,

(3-month

USD

LIBOR

+

1.75%),

6/27/25

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

United

States

9,154,681

8,408,300

Kestrel

Bidco,

Inc.

,

Term

Loan

,

5.03

%

,

(

3-month

USD

LIBOR

+

3

%

),

12/11/26

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

Canada

10,637,645

9,386,286

United

AirLines,

Inc.

,

Term

Loan,

B

,

6.533

%

,

(

3-month

USD

LIBOR

+

3.75

%

),

4/21/28

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

United

States

8,277,562

8,001,298

36,340,630

a

a

a

a

a

a

g

Auto

Components

3.0%

Adient

US

LLC

,

Term

Loan,

B1

,

5.622

%

,

(

1-month

USD

LIBOR

+

3.25

%

),

4/10/28

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

United

States

6,037,010

5,867,219

Clarios

Global

LP

,

First

Lien,

Amendment

No.

1

Dollar

Term

Loan

,

5.622

%

,

(

1-month

USD

LIBOR

+

3.25

%

),

4/30/26

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

United

States

6,698,692

6,469,630

DexKo

Global,

Inc.

,

First

Lien,

Closing

Date

Term

Loan

,

6

%

,

(

3-month

USD

LIBOR

+

3.75

%

),

10/04/28

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

United

States

7,664,445

6,945,903

First

Brands

Group

LLC

,

First

Lien,

2021

CME

Term

Loan,

6.287%,

(3-month

SOFR

+

5%),

3/30/27

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

United

States

7,719,287

7,377,708

Second

Lien,

2021

Term

Loan,

11.871%,

(3-month

USD

LIBOR

+

8.5%),

3/30/28

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

United

States

4,220,469

4,035,824

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Floating

Rate

Daily

Access

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

16

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Senior

Floating

Rate

Interests

(continued)

g

Auto

Components

(continued)

Highline

Aftermarket

Acquisition

LLC

,

First

Lien,

Initial

Term

Loan

,

6.872

%

,

(

1-month

USD

LIBOR

+

4.5

%

),

11/09/27

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

United

States

5,995,990

$

5,471,341

TI

Group

Automotive

Systems

LLC

,

Refinancing

U.S.

Term

Loan

,

5.5

%

,

(

3-month

USD

LIBOR

+

3.25

%

),

12/16/26

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

United

States

2,170,439

2,117,979

Truck

Hero,

Inc.

,

Initial

Term

Loan

,

5.872

%

,

(

1-month

USD

LIBOR

+

3.5

%

),

1/31/28

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

United

States

10,171,852

9,240,212

47,525,816

a

a

a

a

a

a

Automobiles

0.4%

g

American

Trailer

World

Corp.

,

First

Lien,

Initial

CME

Term

Loan

,

6.177

%

,

(

1-month

SOFR

+

3.75

%

),

3/03/28

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

United

States

7,842,624

6,833,984

Banks

0.6%

g

Finastra

Ltd.

,

First

Lien,

Dollar

Term

Loan

,

6.871

%

,

(

3-month

USD

LIBOR

+

3.5

%

),

6/13/24

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

United

Kingdom

10,762,326

10,083,653

g

Beverages

0.7%

City

Brewing

Co.

LLC

,

First

Lien,

Closing

Date

Term

Loan

,

5.298

%

,

(

1-month

USD

LIBOR

+

3.5

%

),

4/05/28

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

United

States

3,980,803

3,483,203

Naked

Juice

LLC

,

First

Lien,

Initial

CME

Term

Loan

,

5.405

%

,

(

1-month

USD

LIBOR

+

3.25%;

3-month

USD

LIBOR

+

3.25%

),

1/24/29

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

United

States

1,771,788

1,697,594

Triton

Water

Holdings,

Inc.

,

First

Lien,

Initial

Term

Loan

,

5.75

%

,

(

3-month

USD

LIBOR

+

3.5

%

),

3/31/28

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

United

States

6,194,661

5,519,071

10,699,868

a

a

a

a

a

a

Building

Products

0.2%

g

Cornerstone

Building

Brands,

Inc.

,

Term

Loan,

B

,

5.249

%

,

(

1-month

USD

LIBOR

+

3.25

%

),

4/12/28

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

United

States

2,932,648

2,514,745

Capital

Markets

2.4%

g

Citadel

Securities

LP

,

2021

CME

Term

Loan

,

4.941

%

,

(

1-month

SOFR

+

2.5

%

),

2/02/28

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

United

States

4,549,261

4,477,042

g

Deerfield

Dakota

Holding

LLC

,

First

Lien,

Initial

Dollar

CME

Term

Loan

,

5.275

%

,

(

1-month

SOFR

+

3.75

%

),

4/09/27

...........

United

States

11,152,949

10,846,242

g

Edelman

Financial

Engines

Center

LLC

(The)

,

First

Lien,

2021

Initial

Term

Loan

,

5.872

%

,

(

1-month

USD

LIBOR

+

3.5

%

),

4/07/28

....

United

States

9,507,417

9,057,146

g

Jane

Street

Group

LLC

,

Dollar

Term

Loan

,

5.122

%

,

(

1-month

USD

LIBOR

+

2.75

%

),

1/26/28

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

United

States

3,504,820

3,442,767

Osmosis

Buyer

Ltd.

,

g

2022

Refinancing

CME

Term

Loan,

B,

5.436%,

(1-month

SOFR

+

3.75%),

7/31/28

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

United

Kingdom

4,057,143

3,841,100

h,i

CME

Term

Loan,

TBD,

7/31/28

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

United

Kingdom

1,777,778

1,685,182

g,i

Russell

Investments

US

Institutional

Holdco,

Inc.

,

2025

Term

Loan

,

5

%

,

(

3-month

USD

LIBOR

+

3.5

%

),

5/30/25

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

United

States

4,095,636

3,861,427

37,210,906

a

a

a

a

a

a

g

Chemicals

3.5%

ASP

Unifrax

Holdings,

Inc.

,

First

Lien,

USD

Term

Loan

,

6

%

,

(

3-month

USD

LIBOR

+

3.75

%

),

12/12/25

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

United

States

8,171,253

7,497,125

CPC

Acquisition

Corp.

,

First

Lien,

Initial

Term

Loan

,

6

%

,

(

3-month

USD

LIBOR

+

3.75

%

),

12/29/27

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

United

States

3,063,202

2,675,707

Cyanco

Intermediate

2

Corp.

,

First

Lien,

Initial

Term

Loan

,

5.872

%

,

(

1-month

USD

LIBOR

+

3.5

%

),

3/16/25

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

United

States

6,123,626

5,872,312

Hexion

Holdings

Corp.

,

First

Lien,

Initial

CME

Term

Loan,

5.924%,

(3-month

SOFR

+

4.5%),

3/15/29

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

United

States

6,800,000

6,087,428

Second

Lien,

Initial

CME

Term

Loan,

9.638%,

(1-month

SOFR

+

7.438%),

3/15/30

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

United

States

2,093,023

1,831,395

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Floating

Rate

Daily

Access

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

17

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Senior

Floating

Rate

Interests

(continued)

g

Chemicals

(continued)

i

INEOS

Styrolution

Group

GmbH

,

2026

Dollar

Term

Loan,

B

,

5.096

%

,

(

1-month

USD

LIBOR

+

2.75

%

),

1/29/26

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

United

Kingdom

5,743,543

$

5,468,944

LSF11

A5

Holdco

LLC

,

CME

Term

Loan

,

5.941

%

,

(

1-month

SOFR

+

3.5

%

),

10/15/28

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

United

States

4,497,543

4,358,884

Lummus

Technology

Holdings

V

LLC

,

2021

Refinancing

Term

Loan,

B

,

5.872

%

,

(

1-month

USD

LIBOR

+

3.5

%

),

6/30/27

..........

United

States

3,146,268

2,971,650

PMHC

II,

Inc.

,

Initial

CME

Term

Loan,

B

,

6.977

%

,

(

3-month

SOFR

+

4.25

%

),

4/23/29

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

United

States

13,300,000

11,554,375

SCIH

Salt

Holdings,

Inc.

,

First

Lien,

Incremental

Term

Loan,

B1

,

6.806

%

,

(

3-month

USD

LIBOR

+

4

%

),

3/16/27

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

United

States

6,202,228

5,792,633

Sparta

U.S.

Holdco

LLC

,

First

Lien,

Initial

Term

Loan

,

5.037

%

,

(

1-month

USD

LIBOR

+

3.25

%

),

8/02/28

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

United

States

3,167

3,048

54,113,501

a

a

a

a

a

a

g

Commercial

Services

&

Supplies

3.5%

Allied

Universal

Holdco

LLC

,

Initial

U.S.

Dollar

Term

Loan

,

6.122

%

,

(

1-month

USD

LIBOR

+

3.75

%

),

5/12/28

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

United

States

7,475,092

7,002,554

Amentum

Government

Services

Holdings

LLC

,

First

Lien,

CME

Term

Loan,

3

,

5.163

%

,

(

3-month

USD

LIBOR

+

4%;

6-month

USD

LIBOR

+

4%

),

2/15/29

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

United

States

12,134,960

11,812,595

APX

Group,

Inc.

,

Initial

Term

Loan

,

5.658

%

,

(

1-month

USD

LIBOR

+

3.5%;

3-month

USD

LIBOR

+

2.5%

),

7/10/28

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

United

States

5,887,829

5,557,021

CCI

Buyer,

Inc.

,

First

Lien,

Initial

CME

Term

Loan

,

6.054

%

,

(

3-month

SOFR

+

4

%

),

12/17/27

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

United

States

8,885,371

8,441,102

Madison

IAQ

LLC

,

Term

Loan

,

4.524

%

,

(

3-month

USD

LIBOR

+

3.25

%

),

6/21/28

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

United

States

6,547,716

6,246,063

Prime

Security

Services

Borrower

LLC

,

First

Lien,

2021

Refinancing

Term

Loan,

B1

,

4.463

%

,

(

3-month

USD

LIBOR

+

2.75

%

),

9/23/26

United

States

6,698,694

6,526,102

Spin

Holdco,

Inc.

,

Initial

Term

Loan

,

5.611

%

,

(

3-month

USD

LIBOR

+

4

%

),

3/04/28

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

United

States

9,439,399

8,741,780

54,327,217

a

a

a

a

a

a

Communications

Equipment

0.4%

g

CommScope,

Inc.

,

Initial

Term

Loan

,

5.622

%

,

(

1-month

USD

LIBOR

+

3.25

%

),

4/06/26

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

United

States

6,120,362

5,776,091

g

Construction

&

Engineering

0.7%

USIC

Holdings,

Inc.

,

First

Lien,

Initial

Term

Loan

,

5.872

%

,

(

1-month

USD

LIBOR

+

3.5

%

),

5/12/28

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

United

States

7,501,742

7,093,835

i

Zekelman

Industries,

Inc.

,

2020

Term

Loan

,

4.185

%

,

(

3-month

USD

LIBOR

+

2

%

),

1/24/27

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

United

States

3,393,458

3,287,413

10,381,248

a

a

a

a

a

a

g

Containers

&

Packaging

1.6%

Charter

Next

Generation,

Inc.

,

First

Lien,

2021

Initial

Term

Loan

,

6.556

%

,

(

3-month

USD

LIBOR

+

3.75

%

),

12/01/27

...........

United

States

5,417,242

5,218,754

Kleopatra

Finco

SARL

,

USD

Term

Loan,

B

,

5.554

%

,

(

6-month

USD

LIBOR

+

4.75

%

),

2/12/26

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

Luxembourg

7,412,710

6,606,578

Mauser

Packaging

Solutions

Holding

Co.

,

Initial

Term

Loan

,

5.037

%

,

(

1-month

USD

LIBOR

+

3.25

%

),

4/03/24

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

United

States

8,428,692

8,076,626

Pactiv

Evergreen,

Inc.

,

U.S.

Term

Loan,

B3

,

5.872

%

,

(

1-month

USD

LIBOR

+

3.5

%

),

9/24/28

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

United

States

5,372,932

5,213,679

25,115,637

a

a

a

a

a

a

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Floating

Rate

Daily

Access

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

18

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Senior

Floating

Rate

Interests

(continued)

g

Diversified

Consumer

Services

1.7%

KUEHG

Corp.

,

Term

Loan,

B3

,

6

%

,

(

3-month

USD

LIBOR

+

3.75

%

),

2/21/25

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

United

States

8,498,005

$

8,186,425

Learning

Care

Group

(US)

No.

2,

Inc.

,

First

Lien,

Initial

Term

Loan

,

5.673

%

,

(

1-month

USD

LIBOR

+

3.25%;

3-month

USD

LIBOR

+

3.25%

),

3/13/25

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

United

States

5,408,213

5,143,725

Pre-Paid

Legal

Services,

Inc.

,

First

Lien,

Initial

Term

Loan

,

5.416

%

,

(

1-month

USD

LIBOR

+

3.75

%

),

12/15/28

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

United

States

4,261,189

4,124,469

Sedgwick

Claims

Management

Services,

Inc.

(Lightning

Cayman

Merger

Sub

Ltd.)

,

2019

Term

Loan,

6.122%,

(1-month

USD

LIBOR

+

3.75%),

9/03/26

United

States

4,621,899

4,505,635

Initial

Term

Loan,

5.622%,

(1-month

USD

LIBOR

+

3.25%),

12/31/25

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

United

States

2,308,816

2,243,522

WW

International,

Inc.

,

Initial

Term

Loan

,

5.88

%

,

(

1-month

USD

LIBOR

+

3.5

%

),

4/13/28

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

United

States

2,181,981

1,649,447

25,853,223

a

a

a

a

a

a

g

Diversified

Financial

Services

1.7%

Mercury

Borrower,

Inc.

,

First

Lien,

Initial

Term

Loan

,

5.813

%

,

(

3-month

USD

LIBOR

+

3.5

%

),

8/02/28

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

United

States

7,959,277

7,621,007

MPH

Acquisition

Holdings

LLC

,

Initial

Term

Loan

,

5.825

%

,

(

3-month

USD

LIBOR

+

4.25

%

),

9/01/28

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

United

States

4,866,732

4,524,358

Red

Planet

Borrower

LLC

,

Initial

Term

Loan

,

6.122

%

,

(

1-month

USD

LIBOR

+

3.75

%

),

10/02/28

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

United

States

3,449,984

2,947,580

Verscend

Holding

Corp.

,

Term

Loan,

B1

,

6.372

%

,

(

1-month

USD

LIBOR

+

4

%

),

8/27/25

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

United

States

12,412,875

12,118,131

27,211,076

a

a

a

a

a

a

g

Diversified

Telecommunication

Services

1.7%

Altice

France

SA

,

USD

Incremental

Term

Loan,

B13

,

5.411

%

,

(

3-month

USD

LIBOR

+

4

%

),

8/14/26

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

France

4,358,010

4,155,363

Global

Tel*Link

Corp.

,

First

Lien,

Term

Loan,

7.056%,

(3-month

USD

LIBOR

+

4.25%),

11/29/25

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

United

States

14,209,860

13,208,846

Second

Lien,

CME

Term

Loan,

11.625%,

(1-month

SOFR

+

10%),

11/29/26

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

United

States

7,895,149

6,908,256

Zayo

Group

Holdings,

Inc.

,

Initial

Dollar

Term

Loan

,

5.372

%

,

(

1-month

USD

LIBOR

+

3

%

),

3/09/27

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

United

States

1,755,569

1,625,999

25,898,464

a

a

a

a

a

a

Electrical

Equipment

0.4%

g

AZZ,

Inc.

,

Initial

CME

Term

Loan

,

6.861

%

,

(

1-month

USD

LIBOR

+

4.25%;

3-month

USD

LIBOR

+

4.25%

),

5/13/29

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

United

States

5,887,097

5,759,553

g

Entertainment

0.8%

AMC

Entertainment

Holdings,

Inc.

,

Term

Loan,

B1

,

4.872

%

,

(

1-month

USD

LIBOR

+

3

%

),

4/22/26

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

United

States

1,974,490

1,718,635

Banijay

Entertainment

SAS

,

USD

Term

Loan,

B

,

5.537

%

,

(

1-month

USD

LIBOR

+

3.75

%

),

3/01/25

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

France

5,169,430

5,041,823

Playtika

Holding

Corp.

,

Term

Loan,

B1

,

5.122

%

,

(

1-month

USD

LIBOR

+

2.75

%

),

3/13/28

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

United

States

4,139,520

4,041,869

William

Morris

Endeavor

Entertainment

LLC

(IMG

Worldwide

Holdings

LLC)

,

First

Lien,

Term

Loan,

B1

,

5.13

%

,

(

1-month

USD

LIBOR

+

2.75

%

),

5/18/25

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

United

States

2,522,952

2,427,824

13,230,151

a

a

a

a

a

a

Equity

Real

Estate

Investment

Trusts

(REITs)

0.1%

g

Brown

Group

Holding

LLC

,

Incremental

CME

Term

Loan,

B2

,

5.349

%

,

(

1-month

SOFR

+

3.75

%

),

7/02/29

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

United

States

1,184,211

1,162,622

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Floating

Rate

Daily

Access

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

19

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Senior

Floating

Rate

Interests

(continued)

g

Food

&

Staples

Retailing

1.1%

GNC

Holdings,

Inc.

,

Second

Lien,

Term

Loan

,

8.156

%

,

(

1-month

USD

LIBOR

+

6

%

),

10/07/26

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

United

States

16,333,627

$

15,026,937

Shearer's

Foods

LLC

,

First

Lien,

Refinancing

Term

Loan

,

5.872

%

,

(

1-month

USD

LIBOR

+

3.5

%

),

9/23/27

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

United

States

1,655,470

1,537,857

16,564,794

a

a

a

a

a

a

g

Food

Products

0.2%

i

B&G

Foods,

Inc.

,

Tranche

Term

Loan,

B4

,

4.872

%

,

(

1-month

USD

LIBOR

+

2.5

%

),

10/10/26

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

United

States

1,411,765

1,346,471

Primary

Products

Finance

LLC

,

CME

Term

Loan,

B

,

4.5

%

,

(

3-month

SOFR

+

4

%

),

4/01/29

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

United

States

2,000,000

1,957,820

3,304,291

a

a

a

a

a

a

g

Health

Care

Equipment

&

Supplies

0.7%

Medline

Borrower

LP

,

Initial

Dollar

Term

Loan

,

5.622

%

,

(

1-month

USD

LIBOR

+

3.25

%

),

10/23/28

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

United

States

7,584,764

7,262,412

US

Radiology

Specialists,

Inc.

(US

Outpatient

Imaging

Services,

Inc.)

,

Closing

Date

Term

Loan

,

7.563

%

,

(

3-month

USD

LIBOR

+

5.25

%

),

12/15/27

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

United

States

4,027,737

3,792,114

11,054,526

a

a

a

a

a

a

g

Health

Care

Providers

&

Services

7.5%

ADMI

Corp.

,

Amendment

No.

4

Refinancing

Term

Loan,

5.747%,

(1-month

USD

LIBOR

+

3.375%),

12/23/27

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

United

States

7,814,959

7,242,786

Amendment

No.

5

Incremental

Term

Loan,

5.872%,

(1-month

USD

LIBOR

+

3.5%),

12/23/27

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

United

States

931,402

870,861

Aveanna

Healthcare

LLC

,

First

Lien,

2021

Extended

Term

Loan

,

5.912

%

,

(

1-month

USD

LIBOR

+

3.75

%

),

7/17/28

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

United

States

5,192,198

4,340,677

CNT

Holdings

I

Corp.

,

First

Lien,

Initial

Term

Loan

,

5.372

%

,

(

1-month

USD

LIBOR

+

3.5

%

),

11/08/27

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

United

States

6,015,863

5,847,118

Dermatology

Intermediate

Holdings

III,

Inc.

,

Closing

Date

CME

Term

Loan,

5.936%,

(1-month

SOFR

+

4.25%),

4/02/29

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

United

States

2,037,300

1,976,181

i,j

Delayed

Draw

CME

Term

Loan,

5.936%,

(1-month

USD

LIBOR

+

4.25%),

4/02/29

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

United

States

60,167

58,362

eResearchTechnology,

Inc.

,

First

Lien,

Initial

Term

Loan

,

6.872

%

,

(

1-month

USD

LIBOR

+

4.5

%

),

2/04/27

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

United

States

10,385,416

9,878,296

FINThrive

Software

Intermediate

Holdings,

Inc.

,

First

Lien,

Initial

Term

Loan,

6.372%,

(1-month

USD

LIBOR

+

4%),

12/18/28

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

United

States

7,955,160

7,686,674

Second

Lien,

Initial

Term

Loan,

9.122%,

(1-month

USD

LIBOR

+

6.75%),

12/17/29

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

United

States

3,779,708

3,394,177

Global

Medical

Response,

Inc.

,

2018

New

Term

Loan

,

6.622

%

,

(

1-month

USD

LIBOR

+

4.25

%

),

3/14/25

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

United

States

2,428,637

2,326,938

Medical

Solutions

Holdings,

Inc.

,

First

Lien,

Initial

Term

Loan

,

6.377

%

,

(

3-month

USD

LIBOR

+

3.5

%

),

11/01/28

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

United

States

6,208,919

5,999,368

National

Mentor

Holdings,

Inc.

,

First

Lien,

Initial

Term

Loan,

6.064%,

(1-month

USD

LIBOR

+

3.75%;

3-month

USD

LIBOR

+

3.75%),

3/02/28

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

United

States

8,692,240

7,430,344

First

Lien,

Initial

Term

Loan,

C,

6.01%,

(3-month

USD

LIBOR

+

3.75%),

3/02/28

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

United

States

279,919

239,282

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Floating

Rate

Daily

Access

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

20

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Senior

Floating

Rate

Interests

(continued)

g

Health

Care

Providers

&

Services

(continued)

Owens

&

Minor,

Inc.

,

CME

Term

Loan,

B1

,

6.177

%

,

(

1-month

SOFR

+

3.75

%

),

3/29/29

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

United

States

2,130,339

$

2,128,560

Pacific

Dental

Services

LLC

,

Term

Loan

,

5.406

%

,

(

1-month

USD

LIBOR

+

3.25

%

),

5/05/28

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

United

States

2,647,662

2,559,971

Pathway

Vet

Alliance

LLC

,

First

Lien,

2021

Replacement

Term

Loan

,

6

%

,

(

3-month

USD

LIBOR

+

3.75

%

),

3/31/27

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

United

States

8,668,921

8,211,982

Phoenix

Guarantor,

Inc.

,

First

Lien,

Term

Loan,

B3

,

5.759

%

,

(

1-month

USD

LIBOR

+

3.5

%

),

3/05/26

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

United

States

4,658,153

4,498,681

Phoenix

Newco,

Inc.

,

First

Lien,

Initial

Term

Loan

,

4.916

%

,

(

1-month

USD

LIBOR

+

3.25

%

),

11/15/28

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

United

States

6,268,161

6,122,239

Pluto

Acquisition

I,

Inc.

,

First

Lien,

2021

Term

Loan

,

6.076

%

,

(

3-month

USD

LIBOR

+

4

%

),

6/22/26

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

United

States

2,709,704

2,249,055

Radiology

Partners,

Inc.

,

First

Lien,

Term

Loan,

B

,

6.464

%

,

(

1-month

USD

LIBOR

+

4.25

%

),

7/09/25

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

United

States

8,820,115

8,109,787

Team

Health

Holdings,

Inc.

,

Extended

CME

Term

Loan

,

7.577

%

,

(

1-month

SOFR

+

5.25

%

),

3/02/27

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

United

States

1,444,768

1,193,133

U.S.

Anesthesia

Partners,

Inc.

,

First

Lien,

Initial

Term

Loan

,

5.963

%

,

(

1-month

USD

LIBOR

+

4.25

%

),

10/01/28

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

United

States

3,622,547

3,404,778

U.S.

Renal

Care,

Inc.

,

Initial

Term

Loan

,

6.688

%

,

(

1-month

USD

LIBOR

+

5

%

),

6/26/26

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

United

States

8,206,478

5,957,041

Waystar

Technologies,

Inc.

,

First

Lien,

Initial

Term

Loan

,

6.372

%

,

(

1-month

USD

LIBOR

+

4

%

),

10/22/26

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

United

States

14,636,386

14,252,181

115,978,472

a

a

a

a

a

a

Health

Care

Technology

0.7%

g

athenahealth

Group,

Inc.

,

Initial

CME

Term

Loan

,

5.653

%

,

(

1-month

SOFR

+

3.5

%

),

2/15/29

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

United

States

11,971,015

11,444,769

g

Hotels,

Restaurants

&

Leisure

4.8%

f

24

Hour

Fitness

Worldwide,

Inc.

,

Term

Loan

,

7.232

%

,

PIK,

(

3-month

USD

LIBOR

+

5

%

),

12/29/25

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

United

States

13,723,221

4,551,535

Bally's

Corp.

,

Term

Loan,

B

,

5.048

%

,

(

1-month

USD

LIBOR

+

3.25

%

),

10/02/28

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

United

States

8,361,491

7,951,276

Caesars

Resort

Collection

LLC

,

Term

Loan,

B,

5.122%,

(1-month

USD

LIBOR

+

2.75%),

12/23/24

United

States

8,789,928

8,615,624

Term

Loan,

B1,

5.872%,

(1-month

USD

LIBOR

+

3.5%),

7/21/25

United

States

1,092,455

1,073,550

Fertitta

Entertainment

LLC

,

Initial

CME

Term

Loan,

B

,

6.327

%

,

(

1-month

SOFR

+

4

%

),

1/27/29

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

United

States

7,933,540

7,587,479

Flynn

Restaurant

Group

LP

,

First

Lien,

2021

Term

Loan

,

6.622

%

,

(

1-month

USD

LIBOR

+

4.25

%

),

11/22/28

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

United

States

5,939,897

5,551,309

i

Hilton

Grand

Vacations

Borrower

LLC

,

Initial

Term

Loan

,

5.372

%

,

(

1-month

USD

LIBOR

+

3

%

),

8/02/28

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

United

States

6,770,665

6,653,024

IRB

Holding

Corp.

,

2022

Replacement

CME

Term

Loan,

B

,

4.836

%

,

(

1-month

SOFR

+

3

%

),

12/15/27

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

United

States

6,160,084

5,924,461

Penn

National

Gaming,

Inc.

,

CME

Term

Loan,

B

,

5.177

%

,

(

1-month

SOFR

+

2.75

%

),

5/03/29

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

United

States

3,583,871

3,514,434

Raptor

Acquisition

Corp.

,

First

Lien,

Term

Loan,

B

,

6.096

%

,

(

3-month

USD

LIBOR

+

4

%

),

11/01/26

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

United

States

7,424,382

7,220,212

Scientific

Games

Holdings

LP

,

First

Lien,

Initial

Dollar

CME

Term

Loan

,

5.617

%

,

(

3-month

SOFR

+

3.5

%

),

4/04/29

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

United

States

8,595,580

8,237,660

Scientific

Games

International,

Inc.

,

Initial

CME

Term

Loan,

B

,

5.044

%

,

(

1-month

SOFR

+

3

%

),

4/14/29

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

United

States

4,397,674

4,307,896

Whatabrands

LLC

,

Initial

Term

Loan,

B

,

5.622

%

,

(

1-month

USD

LIBOR

+

3.25

%

),

8/03/28

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

United

States

4,212,409

4,024,746

75,213,206

a

a

a

a

a

a

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Floating

Rate

Daily

Access

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

21

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Senior

Floating

Rate

Interests

(continued)

g

Household

Durables

0.6%

Astro

One

Acquisition

Corp.

,

First

Lien,

Term

Loan,

B

,

7.75

%

,

(

3-month

USD

LIBOR

+

5.5

%

),

9/15/28

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

United

States

6,069,500

$

5,219,770

Hunter

Douglas

Holding

BV

,

CME

Term

Loan,

B1

,

4.842

%

,

(

3-month

SOFR

+

3.5

%

),

2/26/29

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

Netherlands

1,900,000

1,702,400

VC

GB

Holdings

I

Corp.

,

First

Lien,

Initial

Term

Loan

,

6.377

%

,

(

3-month

USD

LIBOR

+

3.5

%

),

7/21/28

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

United

States

2,711,371

2,402,953

9,325,123

a

a

a

a

a

a

Household

Products

0.3%

c,f,g,k

FGI

Operating

Co.

LLC

,

Term

Loan

,

11

%

,

PIK,

(

6-month

USD

LIBOR

+

10

%

),

5/16/23

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

United

States

38,376,727

4,793,963

g

Insurance

3.1%

Acrisure

LLC

,

First

Lien,

2020

Term

Loan,

5.872%,

(1-month

USD

LIBOR

+

3.5%),

2/15/27

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

United

States

5,984,694

5,708,979

First

Lien,

2021-1

Additional

Term

Loan,

6.122%,

(1-month

USD

LIBOR

+

3.75%),

2/15/27

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

United

States

2,265,489

2,174,870

First

Lien,

2021-2

Additional

Term

Loan,

6.622%,

(1-month

USD

LIBOR

+

4.25%),

2/15/27

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

United

States

1,669,930

1,619,832

Alliant

Holdings

Intermediate

LLC

,

2018

Initial

Term

Loan,

5.622%,

(1-month

USD

LIBOR

+

3.25%),

5/09/25

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

United

States

6,156,732

5,970,614

New

Term

Loan,

B4,

5.656%,

(1-month

USD

LIBOR

+

3.5%),

11/05/27

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

United

States

4,693,478

4,544,601

AssuredPartners,

Inc.

,

2020

CME

Term

Loan,

5.827%,

(1-month

SOFR

+

3.5%),

2/12/27

United

States

2,998,734

2,863,791

2020

February

Refinancing

Term

Loan,

5.872%,

(1-month

USD

LIBOR

+

3.5%),

2/12/27

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

United

States

8,903,692

8,500,266

Asurion

LLC

,

New

Term

Loan,

B8,

5.622%,

(1-month

USD

LIBOR

+

3.25%),

12/23/26

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

United

States

5,089,397

4,798,894

Second

Lien,

New

Term

Loan,

B3,

7.622%,

(1-month

USD

LIBOR

+

5.25%),

1/31/28

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

United

States

6,495,987

5,601,165

Second

Lien,

New

Term

Loan,

B4,

7.622%,

(1-month

USD

LIBOR

+

5.25%),

1/20/29

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

United

States

6,726,293

5,799,746

47,582,758

a

a

a

a

a

a

Internet

&

Direct

Marketing

Retail

0.7%

g

MH

Sub

I

LLC

(Micro

Holding

Corp.)

,

First

Lien,

2020

June

New

Term

Loan,

6.122%,

(1-month

USD

LIBOR

+

3.75%),

9/13/24

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

United

States

5,542,246

5,400,226

First

Lien,

Amendment

No.

2

Initial

Term

Loan,

6.122%,

(1-month

USD

LIBOR

+

3.75%),

9/13/24

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

United

States

5,477,587

5,338,155

10,738,381

a

a

a

a

a

a

IT

Services

5.5%

g

Aptean

Acquiror,

Inc.

,

First

Lien,

Initial

Term

Loan

,

6.622

%

,

(

1-month

USD

LIBOR

+

4.25

%

),

4/23/26

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

United

States

8,788,594

8,426,109

g

Arches

Buyer,

Inc.

,

Refinancing

Term

Loan

,

5.622

%

,

(

1-month

USD

LIBOR

+

3.25

%

),

12/06/27

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

United

States

5,900,378

5,437,936

g

Aventiv

Technologies

LLC

,

First

Lien,

Initial

Term

Loan,

6.75%,

(3-month

USD

LIBOR

+

4.5%),

11/01/24

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

United

States

11,207,578

10,418,677

Second

Lien,

Initial

Term

Loan,

11.056%,

(3-month

USD

LIBOR

+

8.25%),

11/01/25

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

United

States

375,000

334,337

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Floating

Rate

Daily

Access

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

22

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Senior

Floating

Rate

Interests

(continued)

IT

Services

(continued)

Barracuda

Networks,

Inc.

,

g

First

Lien,

2020

Term

Loan,

5.982%,

(3-month

USD

LIBOR

+

3.75%),

2/12/25

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

United

States

6,475,231

$

6,454,996

h,i

First

Lien,

CME

Term

Loan,

TBD,

5/17/29

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

United

States

5,446,927

5,269,902

g

Gainwell

Acquisition

Corp.

,

First

Lien,

Term

Loan,

B

,

6.25

%

,

(

3-month

USD

LIBOR

+

4

%

),

10/01/27

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

United

States

13,530,338

13,163,869

g

Hunter

Holdco

3

Ltd.

,

First

Lien,

Initial

Dollar

Term

Loan

,

6.5

%

,

(

3-month

USD

LIBOR

+

4.25

%

),

8/19/28

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

United

Kingdom

4,841,520

4,708,378

g

Knot

Worldwide,

Inc.

(The)

,

First

Lien,

Amendment

No.

3

CME

Term

Loan

,

6.927

%

,

(

1-month

SOFR

+

4.5

%

),

12/19/25

...........

United

States

1,665,536

1,623,897

g

Peraton

Corp.

,

First

Lien,

Term

Loan,

B

,

6.122

%

,

(

1-month

USD

LIBOR

+

3.75

%

),

2/01/28

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

United

States

12,857,122

12,527,722

g

Pitney

Bowes,

Inc.

,

Refinancing

Term

Loan,

B

,

6.38

%

,

(

1-month

USD

LIBOR

+

4

%

),

3/17/28

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

United

States

11,359,981

10,167,183

g

Sitel

Worldwide

Corp.

,

Initial

Dollar

Term

Loan

,

6.01

%

,

(

3-month

USD

LIBOR

+

3.75

%

),

8/28/28

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

France

4,095,763

4,006,169

g

Thrasio

LLC

,

Initial

Term

Loan

,

9.25

%

,

(

3-month

USD

LIBOR

+

7

%

),

12/18/26

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

United

States

2,474,874

2,318,128

84,857,303

a

a

a

a

a

a

g

Leisure

Products

1.0%

Hercules

Achievement,

Inc.

(Varsity

Brands

Holding

Co.,

Inc.)

,

First

Lien,

Initial

Term

Loan

,

5.166

%

,

(

1-month

USD

LIBOR

+

3.5

%

),

12/16/24

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

United

States

9,450,867

9,006,157

Motion

Acquisition

Ltd.

,

Term

Loan,

B1,

5.5%,

(3-month

USD

LIBOR

+

3.25%),

11/12/26

.

United

Kingdom

5,955,063

5,510,041

Term

Loan,

B2,

5.5%,

(3-month

USD

LIBOR

+

3.25%),

11/12/26

.

United

Kingdom

848,966

785,522

15,301,720

a

a

a

a

a

a

Life

Sciences

Tools

&

Services

0.4%

g,i

ICON

plc

,

Term

Loan,

4.563%,

(3-month

USD

LIBOR

+

2.25%),

7/03/28

...

Ireland

4,769,563

4,694,609

U.S.

Term

Loan,

4.563%,

(3-month

USD

LIBOR

+

2.25%),

7/03/28

Ireland

1,188,340

1,169,665

5,864,274

a

a

a

a

a

a

g

Machinery

1.2%

ASP

Blade

Holdings,

Inc.

,

Initial

Term

Loan

,

6.372

%

,

(

1-month

USD

LIBOR

+

4

%

),

10/13/28

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

United

States

8,571,338

7,526,749

Tiger

Acquisition

LLC

,

First

Lien,

Initial

Term

Loan

,

5.622

%

,

(

1-month

USD

LIBOR

+

3.25

%

),

6/01/28

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

United

States

7,217,322

6,726,545

TK

Elevator

Midco

GmbH

,

USD

Term

Loan,

B1

,

4.019

%

,

(

6-month

USD

LIBOR

+

3.5

%

),

7/30/27

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

Germany

4,826,155

4,672,924

18,926,218

a

a

a

a

a

a

g

Media

4.6%

Cengage

Learning,

Inc.

,

First

Lien,

Term

Loan,

B

,

7.814

%

,

(

3-month

USD

LIBOR

+

4.75

%

),

7/14/26

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

United

States

10,486,498

9,642,440

Clear

Channel

Outdoor

Holdings,

Inc.

,

Term

Loan,

B

,

6.305

%

,

(

1-month

USD

LIBOR

+

3.5%;

3-month

USD

LIBOR

+

3.5%

),

8/21/26

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

United

States

9,668,827

8,847,025

CSC

Holdings

LLC

,

March

2017

Refinancing

Term

Loan

,

4.249

%

,

(

1-month

USD

LIBOR

+

2.25

%

),

7/17/25

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

United

States

8,927,388

8,655,817

Diamond

Sports

Group

LLC

,

First

Lien,

CME

Term

Loan,

9.786%,

(1-month

SOFR

+

8%),

5/25/26

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

United

States

2,820,300

2,686,336

Second

Lien,

CME

Term

Loan,

5.036%,

(1-month

SOFR

+

3.25%),

8/24/26

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

United

States

12,728,172

2,591,074

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Floating

Rate

Daily

Access

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

23

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Senior

Floating

Rate

Interests

(continued)

g

Media

(continued)

Gray

Television,

Inc.

,

Term

Loan,

B2,

4.213%,

(1-month

USD

LIBOR

+

2.5%),

2/07/24

United

States

3,166,732

$

3,134,225

i

Term

Loan,

D,

4.713%,

(1-month

USD

LIBOR

+

3%),

12/01/28

..

United

States

3,355,065

3,289,708

McGraw-Hill

Education,

Inc.

,

Initial

Term

Loan

,

5.554

%

,

(

3-month

USD

LIBOR

+

4.75

%

),

7/28/28

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

United

States

6,507,389

6,190,153

Nexstar

Media,

Inc.

,

Term

Loan,

B4

,

4.872

%

,

(

1-month

USD

LIBOR

+

2.5

%

),

9/18/26

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

United

States

1,040,300

1,030,677

Radiate

Holdco

LLC

,

Amendment

No.

6

Term

Loan

,

5.622

%

,

(

1-month

USD

LIBOR

+

3.25

%

),

9/25/26

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

United

States

12,269,908

11,640,278

Univision

Communications,

Inc.

,

First

Lien,

2021

Replacement

Converted

Term

Loan,

4.916%,

(1-month

USD

LIBOR

+

3.25%),

3/15/26

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

United

States

2,290,154

2,240,538

First

Lien,

Initial

Term

Loan,

B,

5.622%,

(1-month

USD

LIBOR

+

3.25%),

1/31/29

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

United

States

7,290,424

7,006,425

Virgin

Media

Bristol

LLC

,

Term

Loan,

Q

,

5.249

%

,

(

1-month

USD

LIBOR

+

3.25

%

),

1/31/29

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

United

States

4,555,393

4,504,965

71,459,661

a

a

a

a

a

a

Metals

&

Mining

0.3%

g

U.S.

Silica

Co.

,

Term

Loan

,

5.688

%

,

(

1-month

USD

LIBOR

+

4

%

),

5/01/25

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

United

States

4,613,827

4,510,016

Oil,

Gas

&

Consumable

Fuels

0.9%

b,g

Quarternorth

Energy

Holding,

Inc.

,

Second

Lien,

Initial

New

Term

Loan

,

10.372

%

,

(

1-month

USD

LIBOR

+

8

%

),

8/27/26

........

United

States

13,723,697

13,676,556

g

Personal

Products

1.4%

Conair

Holdings

LLC

,

First

Lien,

Initial

Term

Loan

,

6

%

,

(

3-month

USD

LIBOR

+

3.75

%

),

5/17/28

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

United

States

10,092,364

8,616,356

Coty,

Inc.

,

USD

Term

Loan,

B

,

4.057

%

,

(

1-month

USD

LIBOR

+

2.25

%

),

4/07/25

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

United

States

2,802,300

2,710,636

Sunshine

Luxembourg

VII

SARL

,

Term

Loan,

B3

,

6

%

,

(

3-month

USD

LIBOR

+

3.75

%

),

10/01/26

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

Luxembourg

11,586,440

11,084,400

22,411,392

a

a

a

a

a

a

g

Pharmaceuticals

1.7%

Bausch

Health

Cos.,

Inc.

,

Second

Amendment

CME

Term

Loan

,

7.174

%

,

(

1-month

SOFR

+

5.25

%

),

2/01/27

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

United

States

1,684,824

1,422,716

i

Grifols

Worldwide

Operations

Ltd.

,

Dollar

Tranche

Term

Loan,

B

,

4.372

%

,

(

1-month

USD

LIBOR

+

2

%

),

11/15/27

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

Spain

2,000,000

1,917,640

Jazz

Pharmaceuticals

plc

,

Initial

Dollar

Term

Loan

,

5.872

%

,

(

1-month

USD

LIBOR

+

3.5

%

),

5/05/28

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

United

States

8,377,656

8,203,150

Organon

&

Co.

,

Dollar

Term

Loan

,

4.625

%

,

(

3-month

USD

LIBOR

+

3

%

),

6/02/28

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

United

States

4,217,034

4,157,742

Perrigo

Co.

plc

,

Initial

CME

Term

Loan,

B

,

4.199

%

,

(

1-month

SOFR

+

2.5

%

),

4/20/29

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

United

States

3,221,757

3,181,485

PetVet

Care

Centers

LLC

,

First

Lien,

2021

First

Lien

Replacement

Term

Loan

,

5.872

%

,

(

1-month

USD

LIBOR

+

3.5

%

),

2/14/25

....

United

States

7,225,736

6,957,047

25,839,780

a

a

a

a

a

a

g

Professional

Services

1.0%

CCRR

Parent,

Inc.

,

First

Lien,

Initial

Term

Loan

,

6.01

%

,

(

3-month

USD

LIBOR

+

3.75

%

),

3/06/28

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

United

States

6,267,329

6,047,973

CHG

Healthcare

Services,

Inc.

,

First

Lien,

Initial

Term

Loan

,

4.75

%

,

(

3-month

USD

LIBOR

+

3.25

%

),

9/29/28

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

United

States

5,609,280

5,457,521

Dun

&

Bradstreet

Corp.

(The)

,

Initial

Term

Loan

,

5.55

%

,

(

1-month

USD

LIBOR

+

3.25

%

),

2/06/26

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

United

States

3,974,899

3,878,846

15,384,340

a

a

a

a

a

a

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Floating

Rate

Daily

Access

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

24

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Senior

Floating

Rate

Interests

(continued)

g

Road

&

Rail

0.8%

Avis

Budget

Car

Rental

LLC

,

i

CME

Term

Loan,

C,

5.927%,

(1-month

SOFR

+

3.5%),

3/16/29

..

United

States

1,695,750

$

1,666,074

New

Term

Loan,

B,

4.13%,

(1-month

USD

LIBOR

+

1.75%),

8/06/27

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

United

States

1,286,309

1,215,923

PECF

USS

Intermediate

Holding

III

Corp.

,

Initial

Term

Loan

,

6.622

%

,

(

1-month

USD

LIBOR

+

4.25

%

),

12/15/28

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

United

States

10,024,783

9,202,952

12,084,949

a

a

a

a

a

a

g

Software

9.8%

Atlas

Purchaser,

Inc.

,

First

Lien,

Initial

Term

Loan

,

6.621

%

,

(

3-month

USD

LIBOR

+

5.25

%

),

5/08/28

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

United

States

4,403,216

3,585,407

Central

Parent,

Inc.

,

Initial

CME

Term

Loan,

B

,

6.61

%

,

(

3-month

SOFR

+

4.5

%

),

7/06/29

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

United

States

1,542,857

1,502,751

Cloudera,

Inc.

,

First

Lien,

Initial

Term

Loan,

6.122%,

(1-month

USD

LIBOR

+

3.75%),

10/08/28

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

United

States

6,063,893

5,756,909

Second

Lien,

Initial

Term

Loan,

8.372%,

(1-month

USD

LIBOR

+

6%),

10/08/29

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

United

States

2,723,141

2,491,673

Cornerstone

OnDemand,

Inc.

,

First

Lien,

Initial

Term

Loan

,

6.122

%

,

(

1-month

USD

LIBOR

+

3.75

%

),

10/16/28

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

United

States

6,255,407

5,858,595

DCert

Buyer,

Inc.

,

First

Lien,

Initial

Term

Loan,

6.372%,

(1-month

USD

LIBOR

+

4%),

10/16/26

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

United

States

12,595,969

12,229,363

Second

Lien,

First

Amendment

Refinancing

Term

Loan,

9.372%,

(1-month

USD

LIBOR

+

7%),

2/19/29

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

United

States

5,168,879

4,888,907

ECI

Macola/MAX

Holding

LLC

,

First

Lien,

Initial

Term

Loan

,

6

%

,

(

3-month

USD

LIBOR

+

3.75

%

),

11/09/27

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

United

States

8,298,597

8,098,933

Epicor

Software

Corp.

,

Term

Loan,

C

,

4.916

%

,

(

1-month

USD

LIBOR

+

3.25

%

),

7/30/27

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

United

States

8,219,864

7,858,519

Genesys

Cloud

Services

Holdings

I

LLC

,

2020

Initial

Dollar

Term

Loan

,

6.372

%

,

(

1-month

USD

LIBOR

+

4

%

),

12/01/27

........

United

States

13,607,196

13,314,369

GoTo

Group,

Inc.

,

First

Lien,

Initial

Term

Loan

,

6.912

%

,

(

1-month

USD

LIBOR

+

4.75

%

),

8/31/27

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

United

States

5,845,395

4,499,522

Hyland

Software,

Inc.

,

First

Lien,

2018

Refinancing

Term

Loan,

5.872%,

(1-month

USD

LIBOR

+

3.5%),

7/01/24

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

United

States

9,487,660

9,333,486

Second

Lien,

2021

Refinancing

Term

Loan,

8.622%,

(1-month

USD

LIBOR

+

6.25%),

7/07/25

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

United

States

106,061

103,409

Idera,

Inc.

,

First

Lien,

Term

Loan,

B1

,

5.47

%

,

(

1-month

USD

LIBOR

+

3.75

%

),

3/02/28

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

United

States

8,388,026

7,835,842

IGT

Holding

IV

AB

,

Term

Loan,

B2

,

5.65

%

,

(

3-month

USD

LIBOR

+

3.4

%

),

3/31/28

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

Sweden

2,801,417

2,724,378

Ivanti

Software,

Inc.

,

First

Lien,

2021

Specified

Refinancing

Term

Loan,

5.848%,

(3-month

USD

LIBOR

+

4.25%),

12/01/27

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

United

States

6,556,069

5,625,926

First

Lien,

First

Amendment

Term

Loan,

5.611%,

(3-month

USD

LIBOR

+

4%),

12/01/27

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

United

States

302,576

258,854

McAfee

Corp.

,

CME

Term

Loan,

B1

,

5.699

%

,

(

1-month

SOFR

+

4

%

),

3/01/29

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

United

States

5,250,000

5,032,361

Mitchell

International,

Inc.

,

First

Lien,

Initial

Term

Loan,

5.912%,

(1-month

USD

LIBOR

+

3.75%),

10/15/28

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

United

States

10,211,966

9,705,861

Second

Lien,

Initial

Term

Loan,

8.662%,

(1-month

USD

LIBOR

+

6.5%),

10/15/29

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

United

States

428,571

396,911

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Floating

Rate

Daily

Access

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

25

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Senior

Floating

Rate

Interests

(continued)

g

Software

(continued)

Perforce

Software,

Inc.

,

First

Lien,

New

Term

Loan

,

6.122

%

,

(

1-month

USD

LIBOR

+

3.75

%

),

7/01/26

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

United

States

878,791

$

802,117

Polaris

Newco

LLC

,

First

Lien,

Dollar

Term

Loan

,

5.666

%

,

(

1-month

USD

LIBOR

+

4

%

),

6/02/28

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

United

States

13,353,342

12,720,861

Quest

Software

US

Holdings,

Inc.

,

First

Lien,

Initial

CME

Term

Loan

,

5.474

%

,

(

3-month

SOFR

+

4.25

%

),

2/01/29

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

United

States

4,400,000

3,921,522

Sovos

Compliance

LLC

,

First

Lien,

Delayed

Draw

Term

Loan,

6.152%,

(1-month

USD

LIBOR

+

4.5%),

8/11/28

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

United

States

599,510

586,519

First

Lien,

Initial

Term

Loan,

6.166%,

(1-month

USD

LIBOR

+

4.5%),

8/11/28

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

United

States

3,454,226

3,379,373

UKG,

Inc.

,

First

Lien,

2021-2

Incremental

Term

Loan,

5.535%,

(3-month

USD

LIBOR

+

3.25%),

5/04/26

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

United

States

2,214,496

2,152,556

First

Lien,

Initial

Term

Loan,

6.122%,

(1-month

USD

LIBOR

+

3.75%),

5/04/26

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

United

States

4,251,633

4,145,342

Second

Lien,

2021

Incremental

Term

Loan,

7.535%,

(3-month

USD

LIBOR

+

5.25%),

5/03/27

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

United

States

2,954,019

2,847,468

Vision

Solutions,

Inc.

(Precisely

Software,

Inc.)

,

First

Lien,

Third

Amendment

Term

Loan

,

6.783

%

,

(

3-month

USD

LIBOR

+

4

%

),

4/24/28

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

United

States

11,675,646

10,846,675

152,504,409

a

a

a

a

a

a

g

Specialty

Retail

4.3%

Evergreen

AcqCo

1

LP

,

Initial

Term

Loan

,

7.75

%

,

(

3-month

USD

LIBOR

+

5.5

%

),

4/26/28

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

United

States

6,641,914

6,300,121

Great

Outdoors

Group

LLC

,

Term

Loan,

B2

,

6.122

%

,

(

1-month

USD

LIBOR

+

3.75

%

),

3/06/28

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

United

States

6,160,465

5,654,167

Michaels

Cos.,

Inc.

(The)

,

Term

Loan,

B

,

6.5

%

,

(

3-month

USD

LIBOR

+

4.25

%

),

4/15/28

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

United

States

8,287,842

6,986,651

Park

River

Holdings,

Inc.

,

First

Lien,

Initial

Term

Loan

,

5.527

%

,

(

3-month

USD

LIBOR

+

3.25

%

),

12/28/27

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

United

States

5,520,198

4,932,297

Petco

Health

&

Wellness

Co.,

Inc.

,

First

Lien,

Initial

Term

Loan

,

5.5

%

,

(

3-month

USD

LIBOR

+

3.25

%

),

3/03/28

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

United

States

5,378,826

5,220,393

PetSmart

LLC

,

Initial

Term

Loan

,

6.12

%

,

(

1-month

USD

LIBOR

+

3.75

%

),

2/11/28

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

United

States

8,366,201

8,085,557

Restoration

Hardware,

Inc.

,

2022

Incremental

CME

Term

Loan,

5.677%,

(1-month

SOFR

+

3.25%),

10/20/28

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

United

States

2,800,000

2,573,676

Initial

Term

Loan,

4.872%,

(1-month

USD

LIBOR

+

2.5%),

10/20/28

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

United

States

3,648,897

3,315,479

SRS

Distribution,

Inc.

,

2021

Refinancing

Term

Loan,

6.306%,

(3-month

USD

LIBOR

+

3.5%),

6/02/28

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

United

States

5,507,835

5,266,867

CME

Term

Loan,

6.177%,

(3-month

SOFR

+

3.5%),

6/02/28

....

United

States

451,142

431,217

Staples,

Inc.

,

2019

Refinancing

New

Term

Loan,

B1,

6.286%,

(3-month

USD

LIBOR

+

5%),

4/16/26

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

United

States

5,233,215

4,556,167

2019

Refinancing

New

Term

Loan,

B2,

5.786%,

(3-month

USD

LIBOR

+

4.5%),

9/12/24

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

United

States

5,430,025

5,028,041

White

Cap

Supply

Holdings

LLC

,

Initial

Closing

Date

CME

Term

Loan

,

6.077

%

,

(

1-month

SOFR

+

3.75

%

),

10/19/27

..........

United

States

2,947,688

2,824,563

Woof

Holdings,

Inc.

,

First

Lien,

Initial

Term

Loan

,

5.813

%

,

(

3-month

USD

LIBOR

+

3.75

%

),

12/21/27

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

United

States

6,016,893

5,851,429

67,026,625

a

a

a

a

a

a

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Floating

Rate

Daily

Access

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

26

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Senior

Floating

Rate

Interests

(continued)

Technology

Hardware,

Storage

&

Peripherals

0.4%

g

Magenta

Buyer

LLC

,

First

Lien,

Initial

Term

Loan

,

7.05

%

,

(

1-month

USD

LIBOR

+

4.75

%

),

7/27/28

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

United

States

7,152,054

$

6,818,732

g

Textiles,

Apparel

&

Luxury

Goods

0.5%

Champ

Acquisition

Corp.

,

First

Lien,

Initial

Term

Loan

,

6.506

%

,

(

6-month

USD

LIBOR

+

5.5

%

),

12/19/25

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

United

States

4,952,842

4,782,613

Tory

Burch

LLC

,

Initial

Term

Loan,

B

,

5.372

%

,

(

1-month

USD

LIBOR

+

3

%

),

4/16/28

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

United

States

3,867,147

3,558,935

8,341,548

a

a

a

a

a

a

g

Transportation

Infrastructure

0.6%

First

Student

Bidco,

Inc.

,

Initial

Term

Loan,

B,

5.232%,

(3-month

USD

LIBOR

+

3%),

7/21/28

United

States

2,681,996

2,503,482

Initial

Term

Loan,

C,

5.232%,

(3-month

USD

LIBOR

+

3%),

7/21/28

United

States

994,973

928,748

LaserShip,

Inc.

,

First

Lien,

Initial

Term

Loan

,

7.377

%

,

(

3-month

USD

LIBOR

+

4.5

%

),

5/07/28

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

United

States

6,964,912

5,927,140

9,359,370

a

a

a

a

a

a

Total

Senior

Floating

Rate

Interests

(Cost

$1,365,736,596)

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

1,267,127,151

Asset-Backed

Securities

0.6%

Diversified

Financial

Services

0.6%

e,g

Alinea

CLO

Ltd.

,

2018-1A

,

C

,

144A,

FRN

,

4.61

%

,

(

3-month

USD

LIBOR

+

1.9

%

),

7/20/31

.

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

United

States

7,000,000

6,601,167

e,g

Dryden

40

Senior

Loan

Fund

,

2015-40A

,

CR

,

144A,

FRN

,

3.511

%

,

(

3-month

USD

LIBOR

+

2.1

%

),

8/15/31

.

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

United

States

2,000,000

1,888,124

e,g

Galaxy

XXV

CLO

Ltd.

,

2018-25A

,

C

,

144A,

FRN

,

4.783

%

,

(

3-month

USD

LIBOR

+

2

%

),

10/25/31

.

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

United

States

500,000

472,849

8,962,140

a

a

a

a

a

a

Total

Asset-Backed

Securities

(Cost

$9,500,000)

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

8,962,140

Shares

a

Escrows

and

Litigation

Trusts

0.0%

a,c

Millennium

Corporate

Claim

Trust,

Escrow

Account

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

United

States

13,585,837

—

a,c

Millennium

Lender

Claim

Trust,

Escrow

Account

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

United

States

13,585,837

—

Total

Escrows

and

Litigation

Trusts

(Cost

$–)

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

—

Total

Long

Term

Investments

(Cost

$1,607,373,716)

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

1,471,040,229

a

Short

Term

Investments

3.8%

a

a

Country

Shares

a

Value

a

a

a

Money

Market

Funds

3.8%

d,l

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

1.445%

....

United

States

58,335,606

58,335,606

Total

Money

Market

Funds

(Cost

$58,335,606)

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

58,335,606

Total

Short

Term

Investments

(Cost

$58,335,606

)

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

58,335,606

a

Total

Investments

(Cost

$1,665,709,322)

98.5%

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

$1,529,375,835

Other

Assets,

less

Liabilities

1.5%

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

24,287,252

Net

Assets

100.0%

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

$1,553,663,087

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Floating

Rate

Daily

Access

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

27

See

Abbreviations

on

page

399

.

*

The

principal

amount

is

stated

in

U.S.

dollars

unless

otherwise

indicated.

†

Rounds

to

less

than

0.1%

of

net

assets.

a

Non-income

producing.

b

See

Note

5

regarding

holdings

of

5%

voting

securities.

c

Fair

valued

using

significant

unobservable

inputs.

See

Note

7

regarding

fair

value

measurements.

d

See

Note

6

regarding

investments

in

affiliated

management

investment

companies.

e

Security

was

purchased

pursuant

to

Rule

144A

or

Regulation

S

under

the

Securities

Act

of

1933.

144A

securities

may

be

sold

in

transactions

exempt

from

registration

only

to

qualified

institutional

buyers

or

in

a

public

offering

registered

under

the

Securities

Act

of

1933.

Regulation

S

securities

cannot

be

sold

in

the

United

States

without

either

an

effective

registration

statement

filed

pursuant

to

the

Securities

Act

of

1933,

or

pursuant

to

an

exemption

from

registration.

At

July

31,

2022,

the

aggregate

value

of

these

securities

was

$69,850,403,

representing

4.5%

of

net

assets.

f

Income

may

be

received

in

additional

securities

and/or

cash.

g

The

coupon

rate

shown

represents

the

rate

inclusive

of

any

caps

or

floors,

if

applicable,

in

effect

at

period

end.

h

A

portion

or

all

of

the

security

represents

an

unsettled

loan

commitment.

The

coupon

rate

is

to-be

determined

(TBD)

at

the

time

of

the

settlement

and

will

be

based

upon

a

reference

index/floor

plus

a

spread.

i

A

portion

or

all

of

the

security

purchased

on

a

delayed

delivery

basis.

j

See

Note

4

regarding

unfunded

loan

commitments.

k

Defaulted

security

or

security

for

which

income

has

been

deemed

uncollectible.

l

The

rate

shown

is

the

annualized

seven-day

effective

yield

at

period

end.

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited),

July

31,

2022

Franklin

Low

Duration

Total

Return

Fund

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

28

,

a

a

Country

Shares

a

Value

a

a

a

a

a

a

Common

Stocks

0.0%

Multiline

Retail

0.0%

a,b,c

K2016470219

South

Africa

Ltd.,

A

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

South

Africa

12,326,925

$

—

a,b,c

K2016470219

South

Africa

Ltd.,

B

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

South

Africa

1,226,701

—

—

Oil,

Gas

&

Consumable

Fuels

0.0%

a,b,c

Riviera

Resources,

Inc.

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

United

States

2,835

—

Total

Common

Stocks

(Cost

$135,230)

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

—

Management

Investment

Companies

5.6%

Capital

Markets

5.6%

d

Franklin

Floating

Rate

Income

Fund

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

United

States

18,246,900

139,953,723

SPDR

Blackstone

Senior

Loan

ETF

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

United

States

280,000

11,905,600

151,859,323

Total

Management

Investment

Companies

(Cost

$167,246,461)

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

151,859,323

Warrants

Warrants

0.0%

†

Oil,

Gas

&

Consumable

Fuels

0.0%

†

a,b

Battalion

Oil

Corp.,

A,

10/08/22

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

United

States

1,093

2

a,b

Battalion

Oil

Corp.,

B,

10/08/22

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

United

States

1,366

—

a,b

Battalion

Oil

Corp.,

C,

10/08/22

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

United

States

1,757

—

2

Total

Warrants

(Cost

$–)

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

2

Principal

Amount

*

Corporate

Bonds

21.1%

Aerospace

&

Defense

0.6%

Boeing

Co.

(The)

,

Senior

Note

,

2.196

%

,

2/04/26

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

United

States

10,400,000

9,688,666

General

Dynamics

Corp.

,

Senior

Note

,

3.25

%

,

4/01/25

.........

United

States

4,000,000

4,012,225

e

TransDigm,

Inc.

,

Senior

Secured

Note

,

144A,

6.25

%

,

3/15/26

....

United

States

1,500,000

1,509,773

15,210,664

Air

Freight

&

Logistics

0.1%

e

DAE

Funding

LLC

,

Senior

Note

,

144A,

1.55

%

,

8/01/24

.........

United

Arab

Emirates

1,700,000

1,592,642

Airlines

0.4%

e

American

Airlines

Inc/AAdvantage

Loyalty

IP

Ltd.

,

Senior

Secured

Note

,

144A,

5.5

%

,

4/20/26

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

United

States

1,300,000

1,280,331

e

Delta

Air

Lines,

Inc.

/

SkyMiles

IP

Ltd.

,

Senior

Secured

Note

,

144A,

4.5

%

,

10/20/25

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

United

States

4,600,000

4,545,959

e

International

Consolidated

Airlines

Group

SA

,

Senior

Note

,

Reg

S,

1.5

%

,

7/04/27

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

United

Kingdom

5,500,000

EUR

4,252,039

e

United

Airlines,

Inc.

,

Senior

Secured

Note

,

144A,

4.375

%

,

4/15/26

.

United

States

300,000

288,438

10,366,767

Banks

5.9%

Bank

of

America

Corp.

,

Senior

Note,

3.55%

to

3/04/23,

FRN

thereafter,

3/05/24

.......

United

States

10,350,000

10,333,912

Senior

Note,

3.864%

to

7/22/23,

FRN

thereafter,

7/23/24

......

United

States

11,000,000

10,976,578

Senior

Note,

2.015%

to

2/12/25,

FRN

thereafter,

2/13/26

......

United

States

3,500,000

3,316,695

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

29

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Corporate

Bonds

(continued)

Banks

(continued)

Bank

of

America

Corp.,

(continued)

Senior

Note,

3.384%

to

4/01/25,

FRN

thereafter,

4/02/26

......

United

States

8,300,000

$

8,115,539

Bank

of

Nova

Scotia

(The)

,

Senior

Note

,

2.951

%

,

3/11/27

.......

Canada

7,000,000

6,740,329

Citigroup,

Inc.

,

Senior

Note,

4.044%

to

5/31/23,

FRN

thereafter,

6/01/24

......

United

States

11,000,000

11,017,816

Senior

Note,

3.29%

to

3/16/25,

FRN

thereafter,

3/17/26

.......

United

States

8,200,000

8,018,827

Senior

Note,

3.106%

to

4/07/25,

FRN

thereafter,

4/08/26

......

United

States

6,500,000

6,324,548

Sub.

Bond,

4.6%,

3/09/26

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

United

States

2,600,000

2,648,808

HSBC

Holdings

plc

,

Senior

Bond,

4.3%,

3/08/26

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

United

Kingdom

800,000

805,012

Senior

Note,

4.18%

to

12/08/24,

FRN

thereafter,

12/09/25

.....

United

Kingdom

6,000,000

5,965,957

Senior

Note,

2.013%

to

9/21/27,

FRN

thereafter,

9/22/28

......

United

Kingdom

7,600,000

6,623,821

JPMorgan

Chase

&

Co.

,

Senior

Note,

3.559%

to

4/22/23,

FRN

thereafter,

4/23/24

......

United

States

8,200,000

8,187,576

Senior

Note,

3.845%

to

6/13/24,

FRN

thereafter,

6/14/25

......

United

States

5,400,000

5,388,191

Senior

Note,

2.083%

to

4/21/25,

FRN

thereafter,

4/22/26

......

United

States

18,200,000

17,248,029

Sub.

Bond,

3.875%,

9/10/24

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

United

States

8,400,000

8,455,936

National

Bank

of

Canada

,

Senior

Note

,

3.75%

to

6/08/24,

FRN

thereafter

,

6/09/25

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

Canada

6,600,000

6,565,196

e

Shinhan

Bank

Co.

Ltd.

,

Senior

Note

,

144A,

1.375

%

,

10/21/26

....

South

Korea

6,500,000

5,950,327

e

Societe

Generale

SA

,

Senior

Note

,

144A,

1.792%

to

6/08/26,

FRN

thereafter

,

6/09/27

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

France

3,900,000

3,447,070

Wells

Fargo

&

Co.

,

Senior

Note,

1.654%

to

6/01/23,

FRN

thereafter,

6/02/24

......

United

States

9,800,000

9,619,711

Senior

Note,

2.188%

to

4/29/25,

FRN

thereafter,

4/30/26

......

United

States

13,400,000

12,723,344

Sub.

Bond,

4.1%,

6/03/26

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

United

States

3,000,000

3,011,012

161,484,234

Beverages

0.4%

Anheuser-Busch

Cos.

LLC

/

Anheuser-Busch

InBev

Worldwide,

Inc.

,

Senior

Note

,

3.65

%

,

2/01/26

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

Belgium

8,000,000

8,058,593

e

Coca-Cola

Europacific

Partners

plc

,

Senior

Note

,

144A,

1.5

%

,

1/15/27

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

United

Kingdom

4,400,000

3,981,200

12,039,793

Biotechnology

0.1%

AbbVie,

Inc.

,

Senior

Bond,

3.6%,

5/14/25

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

United

States

810,000

810,860

Senior

Note,

3.8%,

3/15/25

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

United

States

600,000

602,045

Senior

Note,

2.95%,

11/21/26

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

United

States

500,000

488,152

1,901,057

Capital

Markets

2.2%

Credit

Suisse

Group

AG

,

Senior

Note

,

4.55

%

,

4/17/26

..........

Switzerland

8,000,000

7,857,903

Deutsche

Bank

AG

,

Senior

Note

,

2.222%

to

9/17/23,

FRN

thereafter

,

9/18/24

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

Germany

7,000,000

6,767,384

Goldman

Sachs

Group,

Inc.

(The)

,

Senior

Bond,

3.75%,

2/25/26

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

United

States

6,500,000

6,512,334

Senior

Note,

0.673%

to

3/07/23,

FRN

thereafter,

3/08/24

......

United

States

8,300,000

8,134,089

Senior

Note,

4.387%

to

6/14/26,

FRN

thereafter,

6/15/27

......

United

States

2,700,000

2,717,271

Senior

Note,

2.64%

to

2/23/27,

FRN

thereafter,

2/24/28

.......

United

States

5,500,000

5,127,641

Morgan

Stanley

,

Senior

Bond,

3.7%,

10/23/24

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

United

States

1,400,000

1,408,344

Senior

Note,

3.737%

to

4/23/23,

FRN

thereafter,

4/24/24

......

United

States

11,000,000

10,982,621

Senior

Note,

2.188%

to

4/27/25,

FRN

thereafter,

4/28/26

......

United

States

3,800,000

3,622,471

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

30

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Corporate

Bonds

(continued)

Capital

Markets

(continued)

Morgan

Stanley,

(continued)

Sub.

Bond,

4.35%,

9/08/26

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

United

States

7,800,000

$

7,868,754

60,998,812

Chemicals

0.3%

e,f

Anagram

International,

Inc.

/

Anagram

Holdings

LLC

,

Secured

Note

,

144A,

PIK,

10

%

,

8/15/26

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

United

States

338,129

330,851

e

SABIC

Capital

II

BV

,

Senior

Bond

,

144A,

4.5

%

,

10/10/28

........

Saudi

Arabia

400,000

409,362

Sasol

Financing

USA

LLC

,

Senior

Bond

,

6.5

%

,

9/27/28

.........

South

Africa

6,300,000

6,013,886

6,754,099

Communications

Equipment

0.1%

e

CommScope

Technologies

LLC

,

Senior

Bond

,

144A,

6

%

,

6/15/25

.

United

States

1,500,000

1,389,210

Consumer

Finance

0.1%

AerCap

Ireland

Capital

DAC

/

AerCap

Global

Aviation

Trust

,

Senior

Note

,

3

%

,

10/29/28

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

Ireland

3,000,000

2,634,226

Caterpillar

Financial

Services

Corp.

,

Senior

Note

,

1.45

%

,

5/15/25

.

United

States

1,100,000

1,048,551

3,682,777

Containers

&

Packaging

0.0%

†

e

Owens-Brockway

Glass

Container,

Inc.

,

Senior

Note

,

144A,

5.875

%

,

8/15/23

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

United

States

663,000

663,812

Diversified

Consumer

Services

0.1%

Grand

Canyon

University

,

4.125

%

,

10/01/24

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

United

States

1,900,000

1,819,820

Diversified

Financial

Services

0.3%

g

Cia

Securitizadora

de

Creditos

Financeiros

Vert-Fintech

,

12

,

Senior

Secured

Note

,

FRN

,

14.9

%

,

(

BZDIOVRA

+

5.75

%

),

2/14/24

....

Brazil

8,489,727

BRL

1,227,023

e

EDP

Finance

BV

,

Senior

Note

,

144A,

1.71

%

,

1/24/28

..........

Portugal

6,500,000

5,653,004

6,880,027

Diversified

Telecommunication

Services

0.6%

e

CCO

Holdings

LLC

/

CCO

Holdings

Capital

Corp.

,

Senior

Note

,

144A,

4

%

,

3/01/23

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

United

States

500,000

499,227

e

Iliad

Holding

SASU

,

Senior

Secured

Note

,

144A,

6.5

%

,

10/15/26

..

France

2,000,000

1,922,350

Verizon

Communications,

Inc.

,

Senior

Note

,

1.45

%

,

3/20/26

.....

United

States

15,700,000

14,702,121

17,123,698

Electric

Utilities

1.1%

Exelon

Corp.

,

Senior

Bond

,

3.4

%

,

4/15/26

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

United

States

7,000,000

6,942,188

e

Korea

East-West

Power

Co.

Ltd.

,

Senior

Note,

144A,

3.875%,

7/19/23

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

South

Korea

4,800,000

4,808,128

Senior

Note,

144A,

1.75%,

5/06/25

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

South

Korea

8,500,000

8,031,885

Senior

Note,

144A,

3.6%,

5/06/25

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

South

Korea

4,700,000

4,685,039

Southern

Co.

(The)

,

Senior

Bond

,

3.25

%

,

7/01/26

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

United

States

6,850,000

6,741,560

31,208,800

Entertainment

0.7%

e

Banijay

Entertainment

SASU

,

Senior

Secured

Note

,

144A,

5.375

%

,

3/01/25

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

France

3,500,000

3,344,134

e

Magallanes,

Inc.

,

Senior

Note

,

144A,

3.428

%

,

3/15/24

..........

United

States

2,250,000

2,216,355

Netflix,

Inc.

,

Senior

Bond,

5.75%,

3/01/24

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

United

States

1,800,000

1,846,670

Senior

Bond,

4.375%,

11/15/26

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

United

States

3,100,000

3,107,688

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

31

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Corporate

Bonds

(continued)

Entertainment

(continued)

Netflix,

Inc.,

(continued)

e

Senior

Note,

144A,

3.625%,

6/15/25

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

United

States

3,100,000

$

3,055,360

Walt

Disney

Co.

(The)

,

Senior

Note

,

1.75

%

,

1/13/26

...........

United

States

6,600,000

6,278,239

19,848,446

Equity

Real

Estate

Investment

Trusts

(REITs)

0.4%

MPT

Operating

Partnership

LP

/

MPT

Finance

Corp.

,

Senior

Bond

,

5

%

,

10/15/27

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

United

States

6,900,000

6,651,255

e

VICI

Properties

LP

/

VICI

Note

Co.,

Inc.

,

Senior

Note

,

144A,

3.5

%

,

2/15/25

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

United

States

3,000,000

2,838,756

9,490,011

Food

&

Staples

Retailing

0.1%

e

Cencosud

SA

,

Senior

Bond

,

144A,

4.375

%

,

7/17/27

...........

Chile

2,900,000

2,798,500

Food

Products

0.1%

e

JBS

USA

Food

Co.

,

Senior

Note

,

144A,

2.5

%

,

1/15/27

.........

United

States

3,700,000

3,293,000

Health

Care

Equipment

&

Supplies

0.0%

†

Edwards

Lifesciences

Corp.

,

Senior

Bond

,

4.3

%

,

6/15/28

.......

United

States

300,000

303,538

Health

Care

Providers

&

Services

0.5%

Centene

Corp.

,

Senior

Note

,

3.375

%

,

2/15/30

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

United

States

2,700,000

2,457,291

Cigna

Corp.

,

Senior

Note

,

1.25

%

,

3/15/26

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

United

States

8,300,000

7,676,954

Orlando

Health

Obligated

Group

,

3.777

%

,

10/01/28

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

United

States

105,000

102,776

Providence

St

Joseph

Health

Obligated

Group

,

H

,

2.746

%

,

10/01/26

United

States

15,000

14,519

Quest

Diagnostics,

Inc.

,

Senior

Bond

,

3.45

%

,

6/01/26

..........

United

States

4,150,000

4,121,630

14,373,170

Hotels,

Restaurants

&

Leisure

0.5%

e

Melco

Resorts

Finance

Ltd.

,

Senior

Note

,

144A,

4.875

%

,

6/06/25

.

Hong

Kong

2,800,000

2,284,520

e

NCL

Corp.

Ltd.

,

Senior

Note

,

144A,

5.875

%

,

3/15/26

...........

United

States

2,250,000

1,841,423

e

Sands

China

Ltd.

,

Senior

Note

,

144A,

2.3

%

,

3/08/27

...........

Macau

3,400,000

2,832,109

e

Studio

City

Finance

Ltd.

,

Senior

Note

,

144A,

6

%

,

7/15/25

.......

Macau

5,200,000

3,431,948

e

Wynn

Macau

Ltd.

,

Senior

Note

,

144A,

5.625

%

,

8/26/28

.........

Macau

3,200,000

2,503,968

12,893,968

Independent

Power

and

Renewable

Electricity

Producers

0.1%

e

InterGen

NV

,

Senior

Secured

Bond

,

144A,

7

%

,

6/30/23

.........

Netherlands

1,400,000

1,350,412

e,h

Talen

Energy

Supply

LLC

,

Senior

Note

,

144A,

10.5

%

,

1/15/26

....

United

States

1,500,000

1,149,750

2,500,162

Insurance

0.6%

e

GA

Global

Funding

Trust

,

Secured

Note

,

144A,

3.85

%

,

4/11/25

...

United

States

11,300,000

11,103,319

e

Protective

Life

Global

Funding

,

Secured

Note

,

144A,

3.218

%

,

3/28/25

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

United

States

4,000,000

3,943,878

15,047,197

Interactive

Media

&

Services

0.7%

Baidu,

Inc.

,

Senior

Note

,

4.375

%

,

5/14/24

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

China

6,500,000

6,565,569

e

Tencent

Holdings

Ltd.

,

Senior

Note,

144A,

2.985%,

1/19/23

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

China

9,200,000

9,181,670

Senior

Note,

144A,

1.81%,

1/26/26

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

China

3,000,000

2,796,646

18,543,885

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

32

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Corporate

Bonds

(continued)

Internet

&

Direct

Marketing

Retail

0.1%

Amazon.com,

Inc.

,

Senior

Note

,

2.4

%

,

2/22/23

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

United

States

2,550,000

$

2,541,827

IT

Services

0.2%

Fiserv,

Inc.

,

Senior

Note

,

2.25

%

,

6/01/27

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

United

States

5,200,000

4,774,504

Life

Sciences

Tools

&

Services

0.0%

†

Bio-Rad

Laboratories,

Inc.

,

Senior

Note

,

3.3

%

,

3/15/27

.........

United

States

900,000

865,630

Machinery

0.2%

e

Manitowoc

Co.,

Inc.

(The)

,

Secured

Note

,

144A,

9

%

,

4/01/26

....

United

States

1,200,000

1,119,261

Parker-Hannifin

Corp.

,

Senior

Note

,

3.65

%

,

6/15/24

...........

United

States

4,700,000

4,699,956

5,819,217

Media

0.7%

Charter

Communications

Operating

LLC

/

Charter

Communications

Operating

Capital

,

Senior

Secured

Note

,

4.908

%

,

7/23/25

.....

United

States

8,000,000

8,114,975

e

Diamond

Sports

Group

LLC

/

Diamond

Sports

Finance

Co.

,

Senior

Secured

Note

,

144A,

5.375

%

,

8/15/26

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

United

States

1,700,000

376,125

e

DISH

DBS

Corp.

,

Senior

Secured

Note

,

144A,

5.25

%

,

12/01/26

...

United

States

3,800,000

3,294,125

Fox

Corp.

,

Senior

Note

,

3.05

%

,

4/07/25

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

United

States

2,000,000

1,956,797

e

Sirius

XM

Radio,

Inc.

,

Senior

Note

,

144A,

3.125

%

,

9/01/26

......

United

States

2,000,000

1,890,320

e

Univision

Communications,

Inc.

,

Senior

Secured

Note

,

144A,

5.125

%

,

2/15/25

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

United

States

3,700,000

3,602,561

19,234,903

Metals

&

Mining

0.0%

†

e

Novelis

Corp.

,

Senior

Note

,

144A,

3.25

%

,

11/15/26

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

United

States

1,000,000

932,155

Multiline

Retail

0.0%

a,e,f

K2016470219

South

Africa

Ltd.

,

Senior

Secured

Note

,

144A,

PIK,

3

%

,

12/31/22

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

South

Africa

1,068,278

—

a,e,f

K2016470260

South

Africa

Ltd.

,

Senior

Secured

Note

,

144A,

PIK,

25

%

,

12/31/22

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

South

Africa

470,581

—

—

Multi-Utilities

0.0%

†

Dominion

Energy,

Inc.

,

D

,

Senior

Bond

,

2.85

%

,

8/15/26

.........

United

States

1,300,000

1,252,044

Oil,

Gas

&

Consumable

Fuels

1.8%

BP

Capital

Markets

America,

Inc.

,

Senior

Note

,

3.41

%

,

2/11/26

...

United

States

7,000,000

7,009,507

Cenovus

Energy,

Inc.

,

Senior

Note

,

5.375

%

,

7/15/25

...........

Canada

2,211,000

2,297,820

Cheniere

Corpus

Christi

Holdings

LLC

,

Senior

Secured

Note

,

5.875

%

,

3/31/25

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

United

States

5,800,000

5,973,596

Chevron

Corp.

,

Senior

Note

,

1.554

%

,

5/11/25

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

United

States

4,500,000

4,333,274

e

Endeavor

Energy

Resources

LP

/

EER

Finance,

Inc.

,

Senior

Bond

,

144A,

5.75

%

,

1/30/28

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

United

States

2,000,000

2,007,860

Energy

Transfer

LP

,

Senior

Bond

,

4.75

%

,

1/15/26

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

United

States

5,200,000

5,239,491

EnLink

Midstream

Partners

LP

,

Senior

Bond

,

4.85

%

,

7/15/26

.....

United

States

3,900,000

3,865,134

e

Harbour

Energy

plc

,

Senior

Note

,

144A,

5.5

%

,

10/15/26

........

United

Kingdom

1,300,000

1,186,614

e

Harvest

Operations

Corp.

,

Senior

Note

,

144A,

4.2

%

,

6/01/23

.....

South

Korea

2,900,000

2,919,589

MPLX

LP

,

Senior

Note

,

4.875

%

,

12/01/24

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

United

States

6,800,000

6,918,529

Occidental

Petroleum

Corp.

,

Senior

Note,

5.5%,

12/01/25

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

United

States

500,000

511,918

Senior

Note,

8.5%,

7/15/27

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

United

States

1,000,000

1,144,190

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

33

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Corporate

Bonds

(continued)

Oil,

Gas

&

Consumable

Fuels

(continued)

Sabine

Pass

Liquefaction

LLC

,

Senior

Secured

Note,

5.75%,

5/15/24

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

United

States

2,000,000

$

2,042,329

Senior

Secured

Note,

5.625%,

3/01/25

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

United

States

2,000,000

2,057,712

Williams

Cos.,

Inc.

(The)

,

Senior

Bond

,

4

%

,

9/15/25

...........

United

States

2,300,000

2,297,762

49,805,325

Personal

Products

0.2%

e

GSK

Consumer

Healthcare

Capital

US

LLC

,

Senior

Note

,

144A,

3.375

%

,

3/24/27

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

United

States

3,700,000

3,636,781

e

Oriflame

Investment

Holding

plc

,

Senior

Secured

Note

,

144A,

5.125

%

,

5/04/26

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

Switzerland

600,000

365,400

4,002,181

Pharmaceuticals

0.8%

AstraZeneca

plc

,

Senior

Note

,

0.7

%

,

4/08/26

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

United

Kingdom

6,300,000

5,727,694

e

Bayer

US

Finance

II

LLC

,

Senior

Note,

144A,

3.875%,

12/15/23

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

Germany

5,800,000

5,804,832

Senior

Note,

144A,

4.25%,

12/15/25

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

Germany

4,600,000

4,595,829

Bristol-Myers

Squibb

Co.

,

Senior

Note

,

2.9

%

,

7/26/24

..........

United

States

2,551,000

2,549,339

Royalty

Pharma

plc

,

Senior

Note

,

1.75

%

,

9/02/27

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

United

States

700,000

621,254

Teva

Pharmaceutical

Finance

Netherlands

III

BV

,

Senior

Note

,

4.75

%

,

5/09/27

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

Israel

2,200,000

2,112,000

21,410,948

Real

Estate

Management

&

Development

0.1%

e

Country

Garden

Holdings

Co.

Ltd.

,

Senior

Secured

Note

,

Reg

S,

7.25

%

,

4/08/26

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

China

4,100,000

1,511,994

e

Vivion

Investments

SARL

,

Senior

Note

,

Reg

S,

3

%

,

8/08/24

.....

Luxembourg

700,000

EUR

656,265

2,168,259

Semiconductors

&

Semiconductor

Equipment

0.4%

Maxim

Integrated

Products,

Inc.

,

Senior

Bond

,

3.45

%

,

6/15/27

...

United

States

800,000

781,732

e

SK

Hynix,

Inc.

,

Senior

Note

,

144A,

1.5

%

,

1/19/26

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

South

Korea

9,900,000

8,921,670

9,703,402

Specialty

Retail

0.0%

†

e,g

Party

City

Holdings,

Inc.

,

Senior

Secured

Note

,

144A,

FRN

,

8.061

%

,

(

6-month

USD

LIBOR

+

5

%

),

7/15/25

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

United

States

565,890

345,640

Thrifts

&

Mortgage

Finance

0.2%

e

BPCE

SA

,

Senior

Note

,

144A,

2.375

%

,

1/14/25

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

France

7,000,000

6,686,561

Tobacco

0.3%

Altria

Group,

Inc.

,

Senior

Note

,

2.35

%

,

5/06/25

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

United

States

4,200,000

4,033,446

e

Imperial

Brands

Finance

plc

,

Senior

Bond,

144A,

4.25%,

7/21/25

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

United

Kingdom

3,695,000

3,639,379

Senior

Note,

144A,

3.125%,

7/26/24

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

United

Kingdom

700,000

677,190

8,350,015

Wireless

Telecommunication

Services

0.1%

e

Sprint

Spectrum

Co.

LLC

/

Sprint

Spectrum

Co.

II

LLC

/

Sprint

Spectrum

Co.

III

LLC

,

Senior

Secured

Note

,

144A,

4.738

%

,

3/20/25

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

United

States

550,001

552,973

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

34

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Corporate

Bonds

(continued)

Wireless

Telecommunication

Services

(continued)

T-Mobile

USA,

Inc.

,

Senior

Note

,

2.25

%

,

2/15/26

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

United

States

2,900,000

$

2,707,396

3,260,369

Total

Corporate

Bonds

(Cost

$612,961,351)

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

573,361,069

Senior

Floating

Rate

Interests

0.6%

Aerospace

&

Defense

0.1%

i

Dynasty

Acquisition

Co.,

Inc.

,

2020

Term

Loan,

B1,

5.872%,

(1-month

USD

LIBOR

+

3.5%),

4/06/26

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

United

States

990,969

938,943

2020

Term

Loan,

B2,

5.872%,

(1-month

USD

LIBOR

+

3.5%),

4/06/26

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

United

States

532,779

504,808

1,443,751

a

a

a

a

a

a

Airlines

0.1%

i

Air

Canada

,

Term

Loan

,

4.25

%

,

(

3-month

USD

LIBOR

+

3.5

%

),

8/11/28

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

Canada

3,838,256

3,708,024

Diversified

Consumer

Services

0.1%

i

KUEHG

Corp.

,

Term

Loan,

B3

,

6

%

,

(

3-month

USD

LIBOR

+

3.75

%

),

2/21/25

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

United

States

1,609,299

1,550,294

i

Leisure

Products

0.1%

Hercules

Achievement,

Inc.

(Varsity

Brands

Holding

Co.,

Inc.)

,

First

Lien,

Initial

Term

Loan

,

5.166

%

,

(

1-month

USD

LIBOR

+

3.5

%

),

12/16/24

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

United

States

577,266

550,103

Motion

Acquisition

Ltd.

,

Term

Loan,

B1,

5.5%,

(3-month

USD

LIBOR

+

3.25%),

11/12/26

.

United

Kingdom

2,426,218

2,244,907

Term

Loan,

B2,

5.5%,

(3-month

USD

LIBOR

+

3.25%),

11/12/26

.

United

Kingdom

345,887

320,038

3,115,048

a

a

a

a

a

a

i

Media

0.2%

Cengage

Learning,

Inc.

,

First

Lien,

Term

Loan,

B

,

7.814

%

,

(

3-month

USD

LIBOR

+

4.75

%

),

7/14/26

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

United

States

2,590,453

2,381,948

Clear

Channel

Outdoor

Holdings,

Inc.

,

Term

Loan,

B

,

6.305

%

,

(

1-month

USD

LIBOR

+

3.5%;

3-month

USD

LIBOR

+

3.5%

),

8/21/26

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

United

States

1,383,065

1,265,512

CSC

Holdings

LLC

,

March

2017

Refinancing

Term

Loan

,

4.249

%

,

(

1-month

USD

LIBOR

+

2.25

%

),

7/17/25

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

United

States

1,984,293

1,923,931

Diamond

Sports

Group

LLC

,

First

Lien,

CME

Term

Loan,

9.786%,

(1-month

SOFR

+

8%),

5/25/26

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

United

States

607,020

578,187

Second

Lien,

CME

Term

Loan,

5.036%,

(1-month

SOFR

+

3.25%),

8/24/26

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

United

States

1,706,338

347,359

6,496,937

a

a

a

a

a

a

Total

Senior

Floating

Rate

Interests

(Cost

$18,480,987)

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

16,314,054

j

Marketplace

Loans

2.8%

a

Diversified

Financial

Services

2.8%

a

a

a

a

a

a

Total

Marketplace

Loans

(Cost

$79,773,400)

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

75,607,191

Foreign

Government

and

Agency

Securities

3.0%

e

Banque

Ouest

Africaine

de

Developpement

,

Senior

Bond

,

144A,

5

%

,

7/27/27

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

Supranational

k

3,900,000

3,570,489

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

35

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Foreign

Government

and

Agency

Securities

(continued)

Colombia

Government

Bond

,

Senior

Bond

,

8.125

%

,

5/21/24

.....

Colombia

5,300,000

$

5,578,201

e

Comision

Federal

de

Electricidad

,

Senior

Bond

,

144A,

4.75

%

,

2/23/27

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

Mexico

6,300,000

6,133,774

e

Dexia

Credit

Local

SA

,

Senior

Note

,

144A,

2.375

%

,

9/20/22

.....

France

4,800,000

4,798,811

e

Dominican

Republic

Government

Bond

,

Senior

Note

,

144A,

8.9

%

,

2/15/23

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

Dominican

Republic

218,500,000

DOP

4,003,559

Ecopetrol

SA

,

Senior

Bond

,

5.375

%

,

6/26/26

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

Colombia

6,300,000

6,105,992

e,l

Electricite

de

France

SA

,

Junior

Sub.

Bond

,

144A,

5.625%

to

1/21/24,

FRN

thereafter

,

Perpetual

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

France

2,200,000

2,085,534

Equinor

ASA

,

Senior

Note,

2.875%,

4/06/25

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

Norway

15,300,000

15,161,245

Senior

Note,

1.75%,

1/22/26

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

Norway

5,400,000

5,143,197

e

Export-Import

Bank

of

India

,

Senior

Bond

,

144A,

3.875

%

,

2/01/28

.

India

3,400,000

3,287,830

Export-Import

Bank

of

Korea

,

Senior

Bond

,

2.875

%

,

1/21/25

.....

South

Korea

2,000,000

1,976,541

e

Iraq

Government

Bond

,

Senior

Bond

,

144A,

5.8

%

,

1/15/28

......

Iraq

1,650,000

1,428,611

e

Israel

Electric

Corp.

Ltd.

,

Senior

Secured

Bond

,

144A,

Reg

S,

4.25

%

,

8/14/28

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

Israel

1,400,000

1,390,763

Korea

Development

Bank

(The)

,

Senior

Note

,

3.375

%

,

3/12/23

...

South

Korea

7,100,000

7,116,819

e

Pakistan

Government

Bond

,

Senior

Bond

,

144A,

8.25

%

,

9/30/25

..

Pakistan

1,440,000

803,592

Peru

Government

Bond

,

Senior

Bond,

7.35%,

7/21/25

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

Peru

3,300,000

3,598,379

Senior

Bond,

2.783%,

1/23/31

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

Peru

800,000

706,654

Petroleos

Mexicanos

,

Senior

Note

,

6.875

%

,

10/16/25

..........

Mexico

990,000

971,400

Philippines

Government

Bond

,

Senior

Bond

,

4.2

%

,

1/21/24

......

Philippines

1,600,000

1,620,045

e

Romania

Government

Bond

,

Senior

Bond

,

144A,

4.875

%

,

1/22/24

.

Romania

6,500,000

6,552,884

e

Tunisia

Government

Bond

,

Senior

Bond

,

144A,

5.75

%

,

1/30/25

...

Tunisia

1,200,000

654,559

Total

Foreign

Government

and

Agency

Securities

(Cost

$88,195,959)

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

82,688,879

U.S.

Government

and

Agency

Securities

29.3%

U.S.

Treasury

Notes

,

2.5%,

8/15/23

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

United

States

110,000,000

109,472,753

2.75%,

8/31/23

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

United

States

105,000,000

104,778,515

2.875%,

10/31/23

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

United

States

52,000,000

51,974,609

2.75%,

11/15/23

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

United

States

80,000,000

79,815,625

2.875%,

11/30/23

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

United

States

130,000,000

129,895,899

1.875%,

8/31/24

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

United

States

60,000,000

58,762,500

0.375%,

9/15/24

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

United

States

60,000,000

56,913,281

1.125%,

1/15/25

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

United

States

106,000,000

101,666,836

0.25%,

7/31/25

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

United

States

27,000,000

25,005,586

2.875%,

7/31/25

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

United

States

52,000,000

52,075,156

m

Index

Linked,

0.625%,

1/15/26

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

United

States

22,000,000

27,795,693

Total

U.S.

Government

and

Agency

Securities

(Cost

$816,553,562)

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

798,156,453

Asset-Backed

Securities

16.0%

Airlines

0.0%

†

American

Airlines

Pass-Through

Trust

,

2016-2

,

AA

,

Senior

Bond

,

3.2

%

,

6/15/28

.

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

United

States

37,100

33,820

United

Airlines

Pass-Through

Trust

,

2020-1

,

B

,

4.875

%

,

7/15/27

.

..

United

States

358,200

340,576

374,396

a

a

a

a

a

a

Banks

0.4%

Capital

One

Multi-Asset

Execution

Trust

,

2022-A2

,

A

,

3.49

%

,

5/15/27

.

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

United

States

9,780,000

9,863,719

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

36

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Asset-Backed

Securities

(continued)

Commercial

Services

&

Supplies

0.4%

e,n

Armada

Euro

CLO

IV

DAC

,

4A

,

B

,

144A,

FRN

,

1.7

%

,

7/15/33

.

....

Ireland

12,400,000

EUR

$

11,759,966

Consumer

Finance

0.5%

Discover

Card

Execution

Note

Trust

,

2019-A3

,

A

,

1.89

%

,

10/15/24

.

United

States

13,340,000

13,317,789

Diversified

Financial

Services

14.7%

e,i

Adagio

CLO

VIII

DAC

,

VIII-A

,

B1

,

144A,

FRN

,

1.65

%

,

(

3-month

EURIBOR

+

1.65

%

),

4/15/32

.

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

Ireland

500,000

EUR

473,151

e

American

Homes

4

Rent

Trust

,

2014-SFR3,

A,

144A,

3.678%,

12/17/36

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

United

States

695,489

690,225

2015-SFR1,

A,

144A,

3.467%,

4/17/52

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

United

States

5,314,046

5,243,003

e,i

AMMC

CLO

21

Ltd.

,

2017-21A

,

C

,

144A,

FRN

,

3.386

%

,

(

3-month

USD

LIBOR

+

2.1

%

),

11/02/30

.

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

United

States

400,000

375,697

e,i

AMMC

CLO

XI

Ltd.

,

2012-11A

,

CR2

,

144A,

FRN

,

3.186

%

,

(

3-month

USD

LIBOR

+

1.9

%

),

4/30/31

.

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

United

States

1,850,000

1,706,963

e,i

Antares

CLO

Ltd.

,

2018-1A

,

B

,

144A,

FRN

,

4.36

%

,

(

3-month

USD

LIBOR

+

1.65

%

),

4/20/31

.

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

United

States

6,000,000

5,594,620

e,i

Apidos

CLO

XXXV

,

2021-35A

,

A

,

144A,

FRN

,

3.76

%

,

(

3-month

USD

LIBOR

+

1.05

%

),

4/20/34

.

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

United

States

19,306,000

18,620,889

e,i

Ares

European

CLO

VIII

DAC

,

8A

,

BR

,

144A,

FRN

,

1.602

%

,

(

3-month

EURIBOR

+

1.6

%

),

4/17/32

.

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

Ireland

700,000

EUR

666,018

BA

Credit

Card

Trust

,

2022-A1

,

A1

,

3.53

%

,

11/15/27

.

...........

United

States

3,870,000

3,907,854

e,i

Bain

Capital

Credit

CLO

Ltd.

,

2018-1A

,

A1

,

144A,

FRN

,

3.743

%

,

(

3-month

USD

LIBOR

+

0.96

%

),

4/23/31

.

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

United

States

2,000,000

1,958,676

e,i

BCC

Middle

Market

CLO

LLC

,

2018-1A

,

A2

,

144A,

FRN

,

4.86

%

,

(

3-month

USD

LIBOR

+

2.15

%

),

10/20/30

.

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

United

States

2,100,000

2,045,583

e,i

Blackrock

European

CLO

IX

DAC

,

9A

,

A

,

144A,

FRN

,

0.9

%

,

(

3-month

EURIBOR

+

0.9

%

),

12/15/32

.

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

Ireland

3,300,000

EUR

3,229,740

e,i

BlueMountain

CLO

XXXI

Ltd.

,

2021-31A

,

A1

,

144A,

FRN

,

3.888

%

,

(

3-month

USD

LIBOR

+

1.15

%

),

4/19/34

.

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

United

States

3,130,000

3,040,795

e,i

BlueMountain

Fuji

EUR

CLO

V

DAC

,

5A

,

B

,

144A,

FRN

,

1.55

%

,

(

3-month

EURIBOR

+

1.55

%

),

1/15/33

.

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

Ireland

4,550,000

EUR

4,272,908

e,i

BlueMountain

Fuji

US

CLO

III

Ltd.

,

2017-3A,

A2,

144A,

FRN,

3.662%,

(3-month

USD

LIBOR

+

1.15%),

1/15/30

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

United

States

1,000,000

973,000

2017-3A,

C,

144A,

FRN,

4.212%,

(3-month

USD

LIBOR

+

1.7%),

1/15/30

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

United

States

500,000

455,224

e,i

Carlyle

Global

Market

Strategies

CLO

Ltd.

,

2014-1A,

A2R2,

144A,

FRN,

3.87%,

(3-month

USD

LIBOR

+

1.13%),

4/17/31

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

United

States

1,200,000

1,166,474

2014-1A,

DR,

144A,

FRN,

5.34%,

(3-month

USD

LIBOR

+

2.6%),

4/17/31

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

United

States

533,000

453,359

e,i

Carlyle

GMS

Finance

MM

CLO

LLC

,

2015-1A

,

A2R

,

144A,

FRN

,

4.712

%

,

(

3-month

USD

LIBOR

+

2.2

%

),

10/15/31

.

...........

United

States

7,300,000

6,832,545

e,i

Carlyle

US

CLO

Ltd.

,

2017-4A,

B,

144A,

FRN,

4.362%,

(3-month

USD

LIBOR

+

1.85%),

1/15/30

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

United

States

1,107,000

1,040,580

2017-4A,

C,

144A,

FRN,

5.312%,

(3-month

USD

LIBOR

+

2.8%),

1/15/30

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

United

States

400,000

341,848

2017-5A,

B,

144A,

FRN,

4.51%,

(3-month

USD

LIBOR

+

1.8%),

1/20/30

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

United

States

2,200,000

2,009,905

2021-1A,

A1,

144A,

FRN,

3.652%,

(3-month

USD

LIBOR

+

1.14%),

4/15/34

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

United

States

17,876,000

17,329,603

2021-6A,

A1,

144A,

FRN,

3.672%,

(3-month

USD

LIBOR

+

1.16%),

7/15/34

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

United

States

7,750,000

7,466,428

e,i

Cent

CLO

21

Ltd.

,

2014-21A

,

CR2

,

144A,

FRN

,

5.969

%

,

(

3-month

USD

LIBOR

+

3.2

%

),

7/27/30

.

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

United

States

502,000

460,378

e

CF

Hippolyta

Issuer

LLC

,

2020-1

,

A1

,

144A,

1.69

%

,

7/15/60

.

.....

United

States

3,369,043

3,097,764

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

37

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Asset-Backed

Securities

(continued)

Diversified

Financial

Services

(continued)

e,n

Consumer

Loan

Underlying

Bond

Certificate

Issuer

Trust

I

,

2018-29,

PT,

144A,

FRN,

27.296%,

12/15/43

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

United

States

84,295

$

80,651

2019-26,

PT,

144A,

FRN,

17.957%,

8/15/44

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

United

States

352,541

338,896

2019-31,

PT,

144A,

FRN,

17.819%,

9/15/44

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

United

States

308,901

293,155

2019-37,

PT,

144A,

FRN,

18.774%,

10/17/44

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

United

States

338,340

321,342

2019-42,

PT,

144A,

FRN,

17.951%,

11/15/44

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

United

States

331,610

317,792

2019-51,

PT,

144A,

FRN,

15.681%,

1/15/45

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

United

States

867,617

836,155

2019-52,

PT,

144A,

FRN,

16.325%,

1/15/45

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

United

States

1,137,354

1,102,122

2019-S1,

PT,

144A,

FRN,

15.098%,

4/15/44

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

United

States

134,587

127,575

2019-S2,

PT,

144A,

FRN,

12.5%,

5/16/44

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

United

States

107,747

101,817

2019-S3,

PT,

144A,

FRN,

13.086%,

6/15/44

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

United

States

92,788

88,248

2019-S4,

PT,

144A,

FRN,

11.589%,

8/15/44

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

United

States

234,873

225,992

2019-S5,

PT,

144A,

FRN,

12.985%,

9/15/44

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

United

States

237,335

227,796

2019-S6,

PT,

144A,

FRN,

11.334%,

10/17/44

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

United

States

233,027

220,924

2019-S7,

PT,

144A,

FRN,

11.047%,

12/15/44

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

United

States

428,863

409,343

2019-S8,

PT,

144A,

FRN,

9.937%,

1/15/45

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

United

States

548,468

522,109

2020-2,

PT,

144A,

FRN,

16.464%,

3/15/45

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

United

States

1,046,264

1,009,867

2020-7,

PT,

144A,

FRN,

15.856%,

4/17/45

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

United

States

618,022

587,919

e,i

Cook

Park

CLO

Ltd.

,

2018-1A

,

A2

,

144A,

FRN

,

3.86

%

,

(

3-month

USD

LIBOR

+

1.12

%

),

4/17/30

.

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

United

States

1,000,000

972,622

i

CWABS,

Inc.

,

2004-1

,

M1

,

FRN

,

3.009

%

,

(

1-month

USD

LIBOR

+

0.75

%

),

3/25/34

.

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

United

States

29,097

28,382

e,i

Dryden

44

Euro

CLO

DAC

,

2015-44A

,

A1RR

,

144A,

FRN

,

0.88

%

,

(

3-month

EURIBOR

+

0.88

%

),

4/15/34

.

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

Ireland

20,020,000

EUR

19,541,631

e,i

Dryden

55

CLO

Ltd.

,

2018-55A,

C,

144A,

FRN,

4.412%,

(3-month

USD

LIBOR

+

1.9%),

4/15/31

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

United

States

600,000

561,000

2018-55A,

D,

144A,

FRN,

5.362%,

(3-month

USD

LIBOR

+

2.85%),

4/15/31

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

United

States

300,000

267,657

e,i

Dryden

58

CLO

Ltd.

,

2018-58A

,

A2

,

144A,

FRN

,

3.99

%

,

(

3-month

USD

LIBOR

+

1.25

%

),

7/17/31

.

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

United

States

1,600,000

1,537,319

e,i

Dryden

64

CLO

Ltd.

,

2018-64A

,

C

,

144A,

FRN

,

4.49

%

,

(

3-month

USD

LIBOR

+

1.75

%

),

4/18/31

.

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

United

States

750,000

704,433

e,i

Dryden

85

CLO

Ltd.

,

2020-85A

,

AR

,

144A,

FRN

,

3.662

%

,

(

3-month

USD

LIBOR

+

1.15

%

),

10/15/35

.

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

United

States

2,110,000

2,049,950

e,i

Ellington

CLO

III

Ltd.

,

2018-3A

,

A1

,

144A,

FRN

,

4.36

%

,

(

3-month

USD

LIBOR

+

1.65

%

),

7/20/30

.

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

United

States

3,700,639

3,690,257

e

FirstKey

Homes

Trust

,

2020-SFR2

,

A

,

144A,

1.266

%

,

10/19/37

.

...

United

States

4,198,126

3,918,767

e,i

Galaxy

XXVII

CLO

Ltd.

,

2018-27A

,

A

,

144A,

FRN

,

2.431

%

,

(

3-month

USD

LIBOR

+

1.02

%

),

5/16/31

.

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

United

States

1,500,000

1,472,029

e,i

GoldenTree

Loan

Management

US

CLO

1

Ltd.

,

2021-9A

,

A

,

144A,

FRN

,

3.78

%

,

(

3-month

USD

LIBOR

+

1.07

%

),

1/20/33

.

........

United

States

15,731,000

15,389,342

e,i

Halcyon

Loan

Advisors

Funding

Ltd.

,

2018-1A

,

A2

,

144A,

FRN

,

4.51

%

,

(

3-month

USD

LIBOR

+

1.8

%

),

7/21/31

.

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

United

States

5,000,000

4,636,741

e,i

Holland

Park

CLO

DAC

,

1A

,

A1RR

,

144A,

FRN

,

0.92

%

,

(

3-month

EURIBOR

+

0.92

%

),

11/14/32

.

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

Ireland

15,000,000

EUR

14,735,343

e

Home

Partners

of

America

Trust

,

2021-3

,

B

,

144A,

2.649

%

,

1/17/41

.

United

States

1,425,741

1,303,415

e,i

LCM

26

Ltd.

,

26A

,

C

,

144A,

FRN

,

4.51

%

,

(

3-month

USD

LIBOR

+

1.8

%

),

1/20/31

.

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

United

States

2,000,000

1,816,555

i

Lehman

XS

Trust

,

2005-4

,

1A4

,

FRN

,

2.819

%

,

(

1-month

USD

LIBOR

+

0.56

%

),

10/25/35

.

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

United

States

20,051

20,025

e,i

Long

Point

Park

CLO

Ltd.

,

2017-1A

,

B

,

144A,

FRN

,

4.44

%

,

(

3-month

USD

LIBOR

+

1.7

%

),

1/17/30

.

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

United

States

2,000,000

1,862,231

e,i

Madison

Park

Euro

Funding

VIII

DAC

,

8A

,

ARR

,

144A,

FRN

,

0.82

%

,

(

3-month

EURIBOR

+

0.82

%

),

4/15/32

.

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

Ireland

17,600,000

EUR

17,326,499

e,i

Madison

Park

Funding

L

Ltd.

,

2021-50A

,

A

,

144A,

FRN

,

3.878

%

,

(

3-month

USD

LIBOR

+

1.14

%

),

4/19/34

.

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

United

States

8,850,000

8,528,165

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

38

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Asset-Backed

Securities

(continued)

Diversified

Financial

Services

(continued)

e,i

Madison

Park

Funding

XIII

Ltd.

,

2014-13A

,

DR2

,

144A,

FRN

,

5.588

%

,

(

3-month

USD

LIBOR

+

2.85

%

),

4/19/30

.

...........

United

States

332,000

$

313,059

e,i

Madison

Park

Funding

XLII

Ltd.

,

13A

,

C

,

144A,

FRN

,

4.583

%

,

(

3-month

USD

LIBOR

+

1.8

%

),

11/21/30

.

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

United

States

1,600,000

1,538,176

e,i

Magnetite

XXIX

Ltd.

,

2021-29A

,

A

,

144A,

FRN

,

3.502

%

,

(

3-month

USD

LIBOR

+

0.99

%

),

1/15/34

.

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

United

States

21,809,000

21,372,820

e,i

Magnetite

XXVI

Ltd.

,

2020-26A

,

A1R

,

144A,

FRN

,

3.903

%

,

(

3-month

USD

LIBOR

+

1.12

%

),

7/25/34

.

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

United

States

20,000,000

19,279,453

e,i

Neuberger

Berman

CLO

XVIII

Ltd.

,

2014-18A

,

A1BR

,

144A,

FRN

,

4.132

%

,

(

3-month

USD

LIBOR

+

1.4

%

),

10/21/30

.

...........

United

States

2,295,000

2,242,303

e,i

Neuberger

Berman

CLO

XVI-S

Ltd.

,

2017-16SA

,

AR

,

144A,

FRN

,

3.552

%

,

(

3-month

USD

LIBOR

+

1.04

%

),

4/15/34

.

...........

United

States

15,000,000

14,431,559

e

New

Economy

Assets

Phase

1

Sponsor

LLC

,

2021-1

,

A1

,

144A,

1.91

%

,

10/20/61

.

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

United

States

13,870,000

12,266,847

e,i

Octagon

56

Ltd.

,

2021-1A

,

A

,

144A,

FRN

,

3.672

%

,

(

3-month

USD

LIBOR

+

1.16

%

),

10/15/34

.

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

United

States

15,000,000

14,482,340

e,i

Octagon

Investment

Partners

18-R

Ltd.

,

2018-18A,

A1A,

144A,

FRN,

3.7%,

(3-month

USD

LIBOR

+

0.96%),

4/16/31

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

United

States

1,000,000

981,757

2018-18A,

C,

144A,

FRN,

5.44%,

(3-month

USD

LIBOR

+

2.7%),

4/16/31

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

United

States

1,000,000

871,579

e,i

Octagon

Investment

Partners

26

Ltd.

,

2016-1A

,

A2R

,

144A,

FRN

,

3.862

%

,

(

3-month

USD

LIBOR

+

1.35

%

),

7/15/30

.

...........

United

States

1,600,000

1,564,000

e,i

Octagon

Investment

Partners

33

Ltd.

,

2017-1A

,

C

,

144A,

FRN

,

5.46

%

,

(

3-month

USD

LIBOR

+

2.75

%

),

1/20/31

.

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

United

States

250,000

228,489

e,i

Octagon

Investment

Partners

35

Ltd.

,

2018-1A

,

A1B

,

144A,

FRN

,

3.81

%

,

(

3-month

USD

LIBOR

+

1.1

%

),

1/20/31

.

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

United

States

2,000,000

1,922,928

e,i

Octagon

Investment

Partners

46

Ltd.

,

2020-2A

,

AR

,

144A,

FRN

,

3.672

%

,

(

3-month

USD

LIBOR

+

1.16

%

),

7/15/36

.

...........

United

States

17,400,000

16,827,384

e,i

OHA

Credit

Funding

3

Ltd.

,

2019-3A

,

AR

,

144A,

FRN

,

3.85

%

,

(

3-month

USD

LIBOR

+

1.14

%

),

7/02/35

.

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

United

States

9,500,000

9,256,218

e,i

OHA

Credit

Partners

VII

Ltd.

,

2012-7A

,

AR3

,

144A,

FRN

,

2.548

%

,

(

3-month

USD

LIBOR

+

1.07

%

),

2/20/34

.

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

United

States

17,876,000

17,259,994

e,i

OHA

Credit

Partners

XIII

Ltd.

,

2016-13A

,

AR

,

144A,

FRN

,

3.902

%

,

(

3-month

USD

LIBOR

+

1.17

%

),

10/25/34

.

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

United

States

5,800,000

5,602,602

e,i

Palmer

Square

CLO

Ltd.

,

2021-2A

,

A

,

144A,

FRN

,

3.662

%

,

(

3-month

USD

LIBOR

+

1.15

%

),

7/15/34

.

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

United

States

3,863,000

3,738,428

e,n

Prosper

Pass-Thru

Trust

III

,

2020-PT1,

A,

144A,

FRN,

18.702%,

3/15/26

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

United

States

615,804

620,353

2020-PT2,

A,

144A,

FRN,

13.552%,

4/15/26

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

United

States

718,359

703,199

2020-PT3,

A,

144A,

FRN,

15.099%,

5/15/26

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

United

States

208,842

201,561

i

RAAC

Trust

,

2004-SP1

,

AII

,

FRN

,

2.959

%

,

(

1-month

USD

LIBOR

+

0.7

%

),

3/25/34

.

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

United

States

110,091

108,779

e,i

RR

14

Ltd.

,

2021-14A

,

A1

,

144A,

FRN

,

3.632

%

,

(

3-month

USD

LIBOR

+

1.12

%

),

4/15/36

.

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

United

States

23,418,000

22,635,272

e,i

Sculptor

CLO

XXV

Ltd.

,

25A

,

A1

,

144A,

FRN

,

3.782

%

,

(

3-month

USD

LIBOR

+

1.27

%

),

1/15/31

.

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

United

States

10,726,000

10,538,204

e,n

Upgrade

Master

Pass-Thru

Trust

,

2019-PT1,

A,

144A,

FRN,

11.815%,

6/15/25

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

United

States

83,463

75,651

2019-PT2,

A,

144A,

FRN,

13.634%,

2/15/26

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

United

States

578,987

580,783

e,i

Voya

CLO

Ltd.

,

2013-2A,

A1R,

144A,

FRN,

3.753%,

(3-month

USD

LIBOR

+

0.97%),

4/25/31

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

United

States

11,800,000

11,607,564

2013-2A,

CR,

144A,

FRN,

5.533%,

(3-month

USD

LIBOR

+

2.75%),

4/25/31

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

United

States

375,000

333,071

2014-1A,

BR2,

144A,

FRN,

4.381%,

(3-month

USD

LIBOR

+

1.9%),

4/18/31

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

United

States

2,750,000

2,598,732

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

39

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Asset-Backed

Securities

(continued)

Diversified

Financial

Services

(continued)

e,i

Voya

CLO

Ltd.,

(continued)

2014-1A,

CR2,

144A,

FRN,

5.281%,

(3-month

USD

LIBOR

+

2.8%),

4/18/31

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

United

States

600,000

$

506,923

2016-3A,

CR,

144A,

FRN,

5.99%,

(3-month

USD

LIBOR

+

3.25%),

10/18/31

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

United

States

1,698,113

1,516,346

2018-2A,

A2,

144A,

FRN,

3.762%,

(3-month

USD

LIBOR

+

1.25%),

7/15/31

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

United

States

2,500,000

2,406,203

399,239,873

a

a

a

a

a

a

Thrifts

&

Mortgage

Finance

0.0%

†

n

Conseco

Finance

Securitizations

Corp.

,

2002-2

,

M1

,

FRN

,

7.424

%

,

3/01/33

.

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

United

States

203,650

203,338

i

Countrywide

Asset-Backed

Certificates

Trust

,

2002-3

,

1A1

,

FRN

,

2.999

%

,

(

1-month

USD

LIBOR

+

0.74

%

),

5/25/32

.

...........

United

States

616

610

203,948

a

a

a

a

a

a

Total

Asset-Backed

Securities

(Cost

$458,149,233)

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

434,759,691

Commercial

Mortgage-Backed

Securities

2.3%

Diversified

Financial

Services

2.1%

e

BAMLL

Commercial

Mortgage

Securities

Trust

,

2012-PARK,

A,

144A,

2.959%,

12/10/30

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

United

States

3,300,000

3,294,828

2015-200P,

A,

144A,

3.218%,

4/14/33

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

United

States

600,000

578,081

e,i

BX

Commercial

Mortgage

Trust

,

2019-XL,

A,

144A,

FRN,

2.919%,

(1-month

USD

LIBOR

+

0.92%),

10/15/36

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

United

States

10,417,324

10,273,879

2021-VOLT,

A,

144A,

FRN,

2.699%,

(1-month

USD

LIBOR

+

0.7%),

9/15/36

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

United

States

5,430,000

5,230,489

e,i

BX

Mortgage

Trust

,

2021-PAC

,

A

,

144A,

FRN

,

2.689

%

,

(

1-month

USD

LIBOR

+

0.689

%

),

10/15/36

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

United

States

7,517,000

7,232,706

e,i

BX

Trust

,

2022-IND

,

A

,

144A,

FRN

,

3.592

%

,

(

1-month

SOFR

+

1.491

%

),

4/15/37

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

United

States

9,760,000

9,566,155

e

BXP

Trust

,

2017-GM

,

A

,

144A,

3.379

%

,

6/13/39

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

United

States

2,000,000

1,919,082

Commercial

Mortgage

Trust

,

n

2006-GG7,

AJ,

FRN,

6.012%,

7/10/38

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

United

States

836,002

669,220

e,n

2014-277P,

A,

144A,

FRN,

3.611%,

8/10/49

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

United

States

3,880,000

3,773,704

e

2015-3BP,

A,

144A,

3.178%,

2/10/35

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

United

States

600,000

574,897

e,i

DBCG

Mortgage

Trust

,

2017-BBG

,

A

,

144A,

FRN

,

2.7

%

,

(

1-month

USD

LIBOR

+

0.7

%

),

6/15/34

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

United

States

9,145,000

8,990,648

e,n

Eleven

Madison

Mortgage

Trust

,

2015-11MD

,

A

,

144A,

FRN

,

3.555

%

,

9/10/35

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

United

States

2,005,000

1,947,100

e,i

GS

Mortgage

Securities

Corp.

Trust

,

2022-SHIP

,

A

,

144A,

FRN

,

2.69

%

,

(

1-month

SOFR

+

0.731

%

),

8/15/24

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

United

States

1,850,000

1,814,770

e,n

J.P.

Morgan

Chase

Commercial

Mortgage

Securities

Trust

,

2016-

NINE

,

A

,

144A,

FRN

,

2.854

%

,

9/06/38

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

United

States

600,000

561,413

e

Morgan

Stanley

Capital

I

Trust

,

2014-150E

,

A

,

144A,

3.912

%

,

9/09/32

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

United

States

450,000

437,391

56,864,363

a

a

a

a

a

a

Thrifts

&

Mortgage

Finance

0.2%

Banc

of

America

Commercial

Mortgage

Trust

,

2015-UBS7

,

A4

,

3.705

%

,

9/15/48

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

United

States

100,000

99,079

GS

Mortgage

Securities

Trust

,

2016-GS3,

A4,

2.85%,

10/10/49

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

United

States

600,000

575,628

2017-GS6,

A3,

3.433%,

5/10/50

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

United

States

2,000,000

1,962,207

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

40

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Commercial

Mortgage-Backed

Securities

(continued)

Thrifts

&

Mortgage

Finance

(continued)

JPMBB

Commercial

Mortgage

Securities

Trust

,

2015-C30,

A5,

3.822%,

7/15/48

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

United

States

1,500,000

$

1,493,013

2016-C1,

A5,

3.576%,

3/17/49

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

United

States

1,500,000

1,483,534

5,613,461

a

a

a

a

a

a

Total

Commercial

Mortgage-Backed

Securities

(Cost

$63,691,232)

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

62,477,824

Mortgage-Backed

Securities

0.3%

o

Federal

Home

Loan

Mortgage

Corp.

(FHLMC)

Adjustable

Rate

0.0%

†

FHLMC,

2.225%

-

2.921%,

(12-month

USD

LIBOR

+/-

MBS

Margin),

10/01/36

-

6/01/37

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

United

States

695,005

709,460

709,460

Federal

Home

Loan

Mortgage

Corp.

(FHLMC)

Fixed

Rate

0.0%

†

FHLMC

Gold

Pool,

15

Year,

5%,

10/01/23

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

United

States

6,452

6,657

FHLMC

Gold

Pool,

15

Year,

6%,

6/01/23

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

United

States

1,023

1,025

FHLMC

Gold

Pool,

30

Year,

5%,

1/01/39

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

United

States

52,043

55,320

63,002

o

Federal

National

Mortgage

Association

(FNMA)

Adjustable

Rate

0.3%

FNMA,

2.054%

-

2.225%,

(1-month

USD

LIBOR

+/-

MBS

Margin),

4/01/28

-

7/01/34

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

United

States

168,531

168,749

FNMA,

1.843%

-

3.168%,

(12-month

average

of

1-year

CMT

+/-

MBS

Margin),

11/01/30

-

10/01/44

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

United

States

186,954

190,231

FNMA,

1.655%

-

3.35%,

(6-month

USD

LIBOR

+/-

MBS

Margin),

9/01/22

-

8/01/37

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

United

States

487,442

485,932

FNMA,

3.375%,

(6-month

H15BDI

+/-

MBS

Margin),

8/01/32

.....

United

States

38,167

37,812

FNMA,

2.462%

-

3.45%,

(3-year

CMT

T-Note

+/-

MBS

Margin),

2/01/26

-

6/01/34

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

United

States

24,031

23,949

FNMA,

1.205%

-

4.222%,

(12-month

USD

LIBOR

+/-

MBS

Margin),

11/01/32

-

2/01/44

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

United

States

4,212,069

4,284,519

FNMA,

1.645%

-

4.373%,

(1-year

CMT

T-Note

+/-

MBS

Margin),

3/01/24

-

4/01/40

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

United

States

933,227

933,807

FNMA,

4.776%,

(5-year

CMT

T-Note

+/-

MBS

Margin),

2/01/30

...

United

States

23,579

23,708

FNMA,

1.574%

-

5.575%,

(COFI

11th

District

+/-

MBS

Margin),

12/01/25

-

12/01/36

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

United

States

48,410

48,108

6,196,815

Federal

National

Mortgage

Association

(FNMA)

Fixed

Rate

0.0%

†

FNMA,

15

Year,

3.5%,

10/01/25

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

United

States

197,782

199,932

FNMA,

15

Year,

4%,

12/01/25

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

United

States

267,840

272,749

FNMA,

15

Year,

4.5%,

5/01/23

-

6/01/25

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

United

States

115,272

118,692

FNMA,

30

Year,

5%,

3/01/38

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

United

States

6,699

7,115

598,488

o

Government

National

Mortgage

Association

(GNMA)

Adjustable

Rate

0.0%

†

GNMA

II,

1.625%

-

2.875%,

(1-year

CMT

T-Note

+/-

MBS

Margin),

4/20/26

-

9/20/26

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

United

States

6,012

5,968

5,968

Total

Mortgage-Backed

Securities

(Cost

$7,809,395)

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

7,573,733

Municipal

Bonds

1.7%

California

0.4%

Golden

State

Tobacco

Securitization

Corp.

,

Revenue

,

2021

B-1

,

Refunding

,

3.85

%

,

6/01/50

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

United

States

6,420,000

5,937,198

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

41

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Municipal

Bonds

(continued)

California

(continued)

San

Jose

Redevelopment

Agency

Successor

Agency

,

Tax

Allocation,

Senior

Lien,

2017

A-T,

Refunding,

2.63%,

8/01/22

United

States

5,320,000

$

5,320,000

Tax

Allocation,

Senior

Lien,

2017

A-T,

Refunding,

3.226%,

8/01/27

United

States

190,000

186,335

11,443,533

Colorado

0.5%

Board

of

Governors

of

Colorado

State

University

System

,

Revenue

,

2015

E-2

,

5

%

,

3/01/25

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

United

States

100,000

108,124

Colorado

Bridge

Enterprise

,

Kiewit

Meridiam

Partners

LLC

,

Revenue

,

2021

B

,

0.923

%

,

12/31/23

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

United

States

13,400,000

12,951,978

13,060,102

Hawaii

0.1%

City

&

County

Honolulu

,

Wastewater

System

,

Revenue

,

2019

B

,

Refunding

,

2.233

%

,

7/01/24

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

United

States

2,470,000

2,419,191

Illinois

0.1%

State

of

Illinois

,

GO

,

2003

,

5.1

%

,

6/01/33

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

United

States

2,415,000

2,465,994

Massachusetts

0.1%

Massachusetts

State

College

Building

Authority

,

Revenue

,

2019

C

,

Refunding

,

2.256

%

,

5/01/26

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

United

States

2,635,000

2,532,556

New

York

0.4%

Metropolitan

Transportation

Authority

,

Revenue

,

2020

E

,

Refunding

,

4

%

,

11/15/45

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

United

States

1,865,000

1,812,535

New

York

State

Urban

Development

Corp.

,

State

of

New

York

Sales

Tax

,

Revenue

,

2019

B

,

Refunding

,

2.25

%

,

3/15/26

...........

United

States

8,750,000

8,375,988

10,188,523

Ohio

0.0%

†

City

of

Cincinnati

,

GO

,

2015

A

,

Refunding

,

5

%

,

12/01/25

........

United

States

100,000

108,750

Teays

Valley

Local

School

District

,

GO

,

2015

,

Refunding

,

4

%

,

12/01/26

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

United

States

100,000

103,080

211,830

Texas

0.1%

Texas

State

University

System

,

Revenue

,

2019

B

,

Refunding

,

2.351

%

,

3/15/26

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

United

States

4,825,000

4,674,635

Total

Municipal

Bonds

(Cost

$48,286,789)

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

46,996,364

Residential

Mortgage-Backed

Securities

5.5%

Capital

Markets

0.0%

†

i

Merrill

Lynch

Mortgage

Investors

Trust

,

2003-A,

1A,

FRN,

2.999%,

(1-month

USD

LIBOR

+

0.74%),

3/25/28

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

United

States

91,051

88,238

2003-E,

A1,

FRN,

2.879%,

(1-month

USD

LIBOR

+

0.62%),

10/25/28

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

United

States

209,959

200,571

288,809

a

a

a

a

a

a

Diversified

Financial

Services

2.7%

i

American

Home

Mortgage

Investment

Trust

,

2005-1

,

6A

,

FRN

,

4.835

%

,

(

6-month

USD

LIBOR

+

2

%

),

6/25/45

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

United

States

236,737

236,933

e,n

BRAVO

Residential

Funding

Trust

,

2019-2

,

A3

,

144A,

FRN

,

3.5

%

,

10/25/44

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

United

States

4,054,967

3,919,160

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

42

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Residential

Mortgage-Backed

Securities

(continued)

Diversified

Financial

Services

(continued)

n

CHL

Mortgage

Pass-Through

Trust

,

2004-11

,

2A1

,

FRN

,

3.223

%

,

7/25/34

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

United

States

662,870

$

643,545

e,n

CIM

Trust

,

2019-INV1

,

A1

,

144A,

FRN

,

4

%

,

2/25/49

...........

United

States

118,820

117,170

e,n

COLT

Mortgage

Loan

Trust

,

2022-4

,

A1

,

144A,

FRN

,

4.301

%

,

3/25/67

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

United

States

3,205,732

3,148,766

Credit

Suisse

First

Boston

Mortgage

Securities

Corp.

,

2004-6

,

3A1

,

5

%

,

1

/25/

38

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

Switzerland

104,929

70,017

e,n

CSMC

Trust

,

2014-IVR3

,

A1

,

144A,

FRN

,

3.5

%

,

7/25/44

........

United

States

369,619

354,491

n

GSR

Mortgage

Loan

Trust

,

2005-AR1

,

1A1

,

FRN

,

2.568

%

,

1/25/35

United

States

92,124

86,964

n

J.P.

Morgan

Mortgage

Trust

,

2004-A1,

5A1,

FRN,

2.24%,

2/25/34

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

United

States

19,040

19,118

e

2021-13,

A4,

144A,

FRN,

2.5%,

4/25/52

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

United

States

11,869,119

11,044,850

e

2021-15,

A4,

144A,

FRN,

2.5%,

6/25/52

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

United

States

2,302,820

2,142,897

e,n

Mill

City

Mortgage

Loan

Trust

,

2017-1,

A1,

144A,

FRN,

2.75%,

11/25/58

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

United

States

1,326

1,324

2018-1,

A1,

144A,

FRN,

3.25%,

5/25/62

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

United

States

4,834,624

4,763,099

2018-4,

A1B,

144A,

FRN,

3.492%,

4/25/66

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

United

States

5,625,326

5,508,502

e

OBX

Trust

,

i

2018-1,

A2,

144A,

FRN,

2.909%,

(1-month

USD

LIBOR

+

0.65%),

6/25/57

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

United

States

941,865

921,338

n

2021-J3,

A4,

144A,

FRN,

2.5%,

10/25/51

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

United

States

2,018,172

1,872,129

e,n

Provident

Funding

Associates

LLP

,

2021-J1

,

A3

,

144A,

FRN

,

2.5

%

,

2/20/49

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

United

States

7,609,441

7,058,791

e,n

PSMC

Trust

,

2021-3

,

A3

,

144A,

FRN

,

2.5

%

,

8/25/51

...........

United

States

11,849,544

11,026,635

i

Thornburg

Mortgage

Securities

Trust

,

2004-3

,

A

,

FRN

,

2.999

%

,

(

1-month

USD

LIBOR

+

0.74

%

),

9/25/34

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

United

States

286,976

270,691

e,n

Towd

Point

Mortgage

Trust

,

2017-1,

A1,

144A,

FRN,

2.75%,

10/25/56

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

United

States

2,111,079

2,097,627

2018-4,

A1,

144A,

FRN,

3%,

6/25/58

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

United

States

9,618,565

9,237,405

2019-1,

A1,

144A,

FRN,

3.671%,

3/25/58

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

United

States

7,605,744

7,474,753

72,016,205

a

a

a

a

a

a

Thrifts

&

Mortgage

Finance

2.8%

i

FHLMC

Structured

Agency

Credit

Risk

Debt

Notes

,

2013-DN2,

M2,

FRN,

6.509%,

(1-month

USD

LIBOR

+

4.25%),

11/25/23

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

United

States

3,959,378

4,069,466

2014-DN2,

M3,

FRN,

5.859%,

(1-month

USD

LIBOR

+

3.6%),

4/25/24

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

United

States

5,128,457

5,182,888

2014-DN3,

M3,

FRN,

6.259%,

(1-month

USD

LIBOR

+

4%),

8/25/24

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

United

States

832,735

846,556

2014-DN4,

M3,

FRN,

6.809%,

(1-month

USD

LIBOR

+

4.55%),

10/25/24

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

United

States

1,569,539

1,597,645

2014-HQ2,

M3,

FRN,

6.009%,

(1-month

USD

LIBOR

+

3.75%),

9/25/24

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

United

States

6,210,410

6,341,908

2016-DNA1,

M3,

FRN,

7.809%,

(1-month

USD

LIBOR

+

5.55%),

7/25/28

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

United

States

5,767,981

6,053,913

2016-DNA2,

M3,

FRN,

6.909%,

(1-month

USD

LIBOR

+

4.65%),

10/25/28

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

United

States

7,304,771

7,633,761

2016-HQA2,

M3,

FRN,

7.409%,

(1-month

USD

LIBOR

+

5.15%),

11/25/28

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

United

States

5,494,019

5,698,475

i

FNMA

Connecticut

Avenue

Securities

,

2013-C01,

M2,

FRN,

7.509%,

(1-month

USD

LIBOR

+

5.25%),

10/25/23

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

United

States

4,089,849

4,220,735

2014-C01,

M2,

FRN,

6.659%,

(1-month

USD

LIBOR

+

4.4%),

1/25/24

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

United

States

1,106,406

1,136,340

2014-C02,

1M2,

FRN,

4.859%,

(1-month

USD

LIBOR

+

2.6%),

5/25/24

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

United

States

4,977,776

5,030,389

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

43

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Residential

Mortgage-Backed

Securities

(continued)

Thrifts

&

Mortgage

Finance

(continued)

i

FNMA

Connecticut

Avenue

Securities,

(continued)

2014-C02,

2M2,

FRN,

4.859%,

(1-month

USD

LIBOR

+

2.6%),

5/25/24

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

United

States

897,719

$

900,989

2014-C03,

1M2,

FRN,

5.259%,

(1-month

USD

LIBOR

+

3%),

7/25/24

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

United

States

5,115,067

5,186,793

2014-C03,

2M2,

FRN,

5.159%,

(1-month

USD

LIBOR

+

2.9%),

7/25/24

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

United

States

4,249,338

4,272,929

2014-C04,

1M2,

FRN,

7.159%,

(1-month

USD

LIBOR

+

4.9%),

11/25/24

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

United

States

4,619,732

4,784,233

2014-C04,

2M2,

FRN,

7.259%,

(1-month

USD

LIBOR

+

5%),

11/25/24

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

United

States

466,260

471,131

2015-C01,

1M2,

FRN,

6.559%,

(1-month

USD

LIBOR

+

4.3%),

2/25/25

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

United

States

2,412,922

2,452,880

2015-C02,

1M2,

FRN,

6.259%,

(1-month

USD

LIBOR

+

4%),

5/25/25

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

United

States

3,157,811

3,222,269

2015-C03,

1M2,

FRN,

7.259%,

(1-month

USD

LIBOR

+

5%),

7/25/25

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

United

States

3,273,659

3,311,058

2016-C01,

1M2,

FRN,

9.009%,

(1-month

USD

LIBOR

+

6.75%),

8/25/28

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

United

States

804,412

846,230

2016-C01,

2M2,

FRN,

9.209%,

(1-month

USD

LIBOR

+

6.95%),

8/25/28

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

United

States

2,911,339

3,062,647

2016-C02,

1M2,

FRN,

8.259%,

(1-month

USD

LIBOR

+

6%),

9/25/28

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

United

States

61,188

63,806

i

New

York

Mortgage

Trust

,

2005-3

,

M1

,

FRN

,

2.934

%

,

(

1-month

USD

LIBOR

+

0.675

%

),

2/25/36

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

United

States

71,833

69,308

76,456,349

a

a

a

a

a

a

Total

Residential

Mortgage-Backed

Securities

(Cost

$159,561,674)

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

148,761,363

Shares

a

Escrows

and

Litigation

Trusts

0.0%

†

a,b

K2016470219

South

Africa

Ltd.,

Escrow

Account

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

South

Africa

60,686

—

b

Mesquite

Energy,

Inc.,

Escrow

Account

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

United

States

1,900,000

40,375

a,b

Millennium

Corporate

Claim

Trust,

Escrow

Account

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

United

States

477,205

—

a,b

Millennium

Lender

Claim

Trust,

Escrow

Account

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

United

States

477,205

—

Total

Escrows

and

Litigation

Trusts

(Cost

$1,838,967)

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

40,375

Total

Long

Term

Investments

(Cost

$2,522,684,240)

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

2,398,596,321

a

Number

of

Contracts

Notional

Amount

#

a

a

aa

Options

Purchased

0.0%

†

Puts

-

Over-the-Counter

Currency

Options

Foreign

Exchange

EUR/NOK,

Counterparty

GSCO,

October

Strike

Price

9.37

NOK,

Expires

10/20/22

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

1

3,854,000

EUR

8,689

Total

Options

Purchased

(Cost

$56,123)

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

8,689

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

44

Short

Term

Investments

14.7%

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

a

Foreign

Government

and

Agency

Securities

1.0%

p

Japan

Treasury

Bills,

Senior

Note,

6/20/23

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

Japan

3,726,000,000

JPY

$

27,980,338

Total

Foreign

Government

and

Agency

Securities

(Cost

$27,309,123)

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

27,980,338

a

a

a

Commercial

Papers

0.8%

Toronto-Dominion

Bank,

2.31%

,

2/10/23

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

Canada

21,700,000

21,285,903

Total

Commercial

Papers

(Cost

$21,431,263)

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

21,285,903

Shares

a

a

a

Money

Market

Funds

2.0%

d,q

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

1.445%

....

United

States

54,312,140

54,312,140

Total

Money

Market

Funds

(Cost

$54,312,140)

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

54,312,140

Principal

Amount

*

a

a

a

Repurchase

Agreements

10.9%

r

Joint

Repurchase

Agreement,

2.147%,

8/01/22

(Maturity

Value

$296,554,862)

BNP

Paribas

Securities

Corp.

(Maturity

Value

$204,447,887)

Deutsche

Bank

Securities,

Inc.

(Maturity

Value

$18,935,028)

HSBC

Securities

(USA),

Inc.

(Maturity

Value

$73,171,947)

Collateralized

by

U.S.

Government

Agency

Securities,

2.5%

-

6%,

6/20/44

-

4/20/52;

and

U.S.

Treasury

Notes,

0.75%

-

3%,

1/31/23

-

4/30/26

(valued

at

$302,674,750)

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

296,501,823

296,501,823

Total

Repurchase

Agreements

(Cost

$296,501,823)

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

296,501,823

Total

Short

Term

Investments

(Cost

$399,554,349

)

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

400,080,204

a

Total

Investments

(Cost

$2,922,294,712)

102.9%

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

$2,798,685,214

Other

Assets,

less

Liabilities

(2.9)%

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

(77,897,053)

Net

Assets

100.0%

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

$2,720,788,161

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

45

#

Notional

amount

is

the

number

of

units

specified

in

the

contract,

and

can

include

currency

units,

bushels,

shares,

pounds,

barrels

or

other

units.

Currency

units

are

stated

in

U.S.

dollars

unless

otherwise

indicated.

*

The

principal

amount

is

stated

in

U.S.

dollars

unless

otherwise

indicated.

†

Rounds

to

less

than

0.1%

of

net

assets.

a

Fair

valued

using

significant

unobservable

inputs.

See

Note

7

regarding

fair

value

measurements.

b

Non-income

producing.

c

See

Note

3

regarding

restricted

securities.

d

See

Note

6

regarding

investments

in

affiliated

management

investment

companies.

e

Security

was

purchased

pursuant

to

Rule

144A

or

Regulation

S

under

the

Securities

Act

of

1933.

144A

securities

may

be

sold

in

transactions

exempt

from

registration

only

to

qualified

institutional

buyers

or

in

a

public

offering

registered

under

the

Securities

Act

of

1933.

Regulation

S

securities

cannot

be

sold

in

the

United

States

without

either

an

effective

registration

statement

filed

pursuant

to

the

Securities

Act

of

1933,

or

pursuant

to

an

exemption

from

registration.

At

July

31,

2022,

the

aggregate

value

of

these

securities

was

$738,458,804,

representing

27.1%

of

net

assets.

f

Income

may

be

received

in

additional

securities

and/or

cash.

g

The

coupon

rate

shown

represents

the

rate

at

period

end.

h

Defaulted

security

or

security

for

which

income

has

been

deemed

uncollectible.

i

The

coupon

rate

shown

represents

the

rate

inclusive

of

any

caps

or

floors,

if

applicable,

in

effect

at

period

end.

j

See

full

breakdown

of

marketplace

loans

holdings

in

the

table

at

the

end

of

this

schedule.

k

A

supranational

organization

is

an

entity

formed

by

two

or

more

central

governments

through

international

treaties.

l

Perpetual

security

with

no

stated

maturity

date.

m

Principal

amount

of

security

is

adjusted

for

inflation.

n

Adjustable

rate

security

with

an

interest

rate

that

is

not

based

on

a

published

reference

index

and

spread.

The

rate

is

based

on

the

structure

of

the

agreement

and

current

market

conditions.

The

coupon

rate

shown

represents

the

rate

at

period

end.

o

Adjustable

Rate

Mortgage-Backed

Security

(ARM);

the

rate

shown

is

the

effective

rate

at

period

end.

ARM

rates

are

not

based

on

a

published

reference

rate

and

spread,

but

instead

pass-through

weighted

average

interest

income

inclusive

of

any

caps

or

floors,

if

applicable,

from

the

underlying

mortgage

loans

in

which

the

majority

of

mortgages

pay

interest

based

on

the

index

shown

at

their

designated

reset

dates

plus

a

spread,

less

the

applicable

servicing

and

guaranty

fee

(MBS

margin).

p

The

security

was

issued

on

a

discount

basis

with

no

stated

coupon

rate.

q

The

rate

shown

is

the

annualized

seven-day

effective

yield

at

period

end.

r

Investment

is

through

participation

in

a

joint

account

with

other

funds

managed

by

the

investment

manager

or

an

affiliate

of

the

investment

manager.

At

July

31,

2022,

all

repurchase

agreements

had

been

entered

into

on

July

29,

2022.

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited),

July

31,

2022

Franklin

Low

Duration

Total

Return

Fund

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

46

,

At

July

31,

2022,

the

Fund

had

the

following

marketplace

loans

outstanding.

Description

Principal

Amount

Value

Marketplace

Loans

-

2.8%

Block,

Inc.

3748237.SQ.FTS.B,

Zero

Cpn,

8/28/22

...

$

306

$

76

3760407.SQ.FTS.B,

Zero

Cpn,

9/01/22

...

3,543

727

3774002.SQ.FTS.B,

Zero

Cpn,

9/03/22

...

359

81

3820662.SQ.FTS.B,

Zero

Cpn,

9/07/22

...

734

181

3833998.SQ.FTS.B,

Zero

Cpn,

9/10/22

...

231

91

3841155.SQ.FTS.B,

Zero

Cpn,

9/11/22

...

17,763

4,085

3842781.SQ.FTS.B,

Zero

Cpn,

9/11/22

...

10,067

3,030

3849054.SQ.FTS.B,

Zero

Cpn,

9/12/22

...

687

222

3849313.SQ.FTS.B,

Zero

Cpn,

9/12/22

...

224

57

3849333.SQ.FTS.B,

Zero

Cpn,

9/12/22

...

8,085

1,492

3869455.SQ.FTS.B,

Zero

Cpn,

9/17/22

...

7,514

1,685

3877747.SQ.FTS.B,

Zero

Cpn,

9/18/22

...

441

178

3877914.SQ.FTS.B,

Zero

Cpn,

9/18/22

...

1,608

478

3881902.SQ.FTS.B,

Zero

Cpn,

9/19/22

...

399

211

3908447.SQ.FTS.B,

Zero

Cpn,

9/24/22

...

608

238

3922788.SQ.FTS.B,

Zero

Cpn,

9/26/22

...

986

438

3944713.SQ.FTS.B,

Zero

Cpn,

9/30/22

...

16,717

3,695

3946153.SQ.FTS.B,

Zero

Cpn,

9/30/22

...

40

27

3948363.SQ.FTS.B,

Zero

Cpn,

9/30/22

...

386

144

3953673.SQ.FTS.B,

Zero

Cpn,

9/30/22

...

673

161

3953788.SQ.FTS.B,

Zero

Cpn,

9/30/22

...

6,116

1,888

3953865.SQ.FTS.B,

Zero

Cpn,

9/30/22

...

126

65

3966528.SQ.FTS.B,

Zero

Cpn,

10/01/22

..

869

500

3967335.SQ.FTS.B,

Zero

Cpn,

10/01/22

..

71

47

3976349.SQ.FTS.B,

Zero

Cpn,

10/03/22

..

733

244

3988483.SQ.FTS.B,

Zero

Cpn,

10/06/22

..

9,004

1,658

3990627.SQ.FTS.B,

Zero

Cpn,

10/06/22

..

2,369

977

3995187.SQ.FTS.B,

Zero

Cpn,

10/07/22

..

1,357

690

3996198.SQ.FTS.B,

Zero

Cpn,

10/07/22

..

702

521

4006108.SQ.FTS.B,

Zero

Cpn,

10/08/22

..

3,609

1,415

4012864.SQ.FTS.B,

Zero

Cpn,

10/08/22

..

422

124

4016710.SQ.FTS.B,

Zero

Cpn,

10/09/22

..

432

359

4027848.SQ.FTS.B,

Zero

Cpn,

10/13/22

..

13,882

4,554

4030312.SQ.FTS.B,

Zero

Cpn,

10/13/22

..

596

163

4034760.SQ.FTS.B,

Zero

Cpn,

10/14/22

..

1,160

1,042

4039216.SQ.FTS.B,

Zero

Cpn,

10/15/22

..

645

179

4040738.SQ.FTS.B,

Zero

Cpn,

10/15/22

..

417

202

4042564.SQ.FTS.B,

Zero

Cpn,

10/15/22

..

379

185

4044447.SQ.FTS.B,

Zero

Cpn,

10/16/22

..

14,344

3,237

4045229.SQ.FTS.B,

Zero

Cpn,

10/16/22

..

494

111

4047173.SQ.FTS.B,

Zero

Cpn,

10/17/22

..

225

148

4049053.SQ.FTS.B,

Zero

Cpn,

10/18/22

..

3,993

967

4049733.SQ.FTS.B,

Zero

Cpn,

10/19/22

..

403

340

4055617.SQ.FTS.B,

Zero

Cpn,

10/20/22

..

1,414

742

4056583.SQ.FTS.B,

Zero

Cpn,

10/20/22

..

11,846

2,680

4077814.SQ.FTS.B,

Zero

Cpn,

10/23/22

..

2,357

1,009

4079086.SQ.FTS.B,

Zero

Cpn,

10/23/22

..

3,779

1,081

4079838.SQ.FTS.B,

Zero

Cpn,

10/23/22

..

6,825

1,669

4080547.SQ.FTS.B,

Zero

Cpn,

10/24/22

..

1,952

341

4095538.SQ.FTS.B,

Zero

Cpn,

10/28/22

..

3,487

700

4098743.SQ.FTS.B,

Zero

Cpn,

10/28/22

..

2,896

2,058

4106881.SQ.FTS.B,

Zero

Cpn,

10/29/22

..

348

309

4113005.SQ.FTS.B,

Zero

Cpn,

10/30/22

..

956

512

4115251.SQ.FTS.B,

Zero

Cpn,

11/01/22

..

3,759

1,405

4122205.SQ.FTS.B,

Zero

Cpn,

11/04/22

..

1,920

691

4125734.SQ.FTS.B,

Zero

Cpn,

11/05/22

..

4,285

990

Description

Principal

Amount

Value

Block,

Inc.

(continued)

4126401.SQ.FTS.B,

Zero

Cpn,

11/05/22

..

$

1,528

$

1,295

4136634.SQ.FTS.B,

Zero

Cpn,

11/07/22

..

7,915

2,663

4138127.SQ.FTS.B,

Zero

Cpn,

11/09/22

..

2,987

1,508

4140914.SQ.FTS.B,

Zero

Cpn,

11/10/22

..

4,145

3,519

4142060.SQ.FTS.B,

Zero

Cpn,

11/10/22

..

1,222

312

4143957.SQ.FTS.B,

Zero

Cpn,

11/11/22

..

519

460

4147030.SQ.FTS.B,

Zero

Cpn,

11/11/22

..

346

206

4163065.SQ.FTS.B,

Zero

Cpn,

11/14/22

..

1,168

673

4171680.SQ.FTS.B,

Zero

Cpn,

11/17/22

..

4,152

1,888

4171907.SQ.FTS.B,

Zero

Cpn,

11/17/22

..

4,783

1,222

4172441.SQ.FTS.B,

Zero

Cpn,

11/18/22

..

7,539

1,458

4176246.SQ.FTS.B,

Zero

Cpn,

11/18/22

..

3,854

1,641

4179269.SQ.FTS.B,

Zero

Cpn,

11/19/22

..

2,397

1,152

4186988.SQ.FTS.B,

Zero

Cpn,

11/20/22

..

446

184

4189414.SQ.FTS.B,

Zero

Cpn,

11/20/22

..

259

169

4197129.SQ.FTS.B,

Zero

Cpn,

11/21/22

..

38

25

4199800.SQ.FTS.B,

Zero

Cpn,

11/22/22

..

487

171

4200379.SQ.FTS.B,

Zero

Cpn,

11/23/22

..

1,213

323

4207561.SQ.FTS.B,

Zero

Cpn,

11/25/22

..

1,742

621

4211819.SQ.FTS.B,

Zero

Cpn,

11/25/22

..

3,658

1,640

4216494.SQ.FTS.B,

Zero

Cpn,

11/26/22

..

163

112

4228736.SQ.FTS.B,

Zero

Cpn,

11/27/22

..

509

284

4229796.SQ.FTS.B,

Zero

Cpn,

11/27/22

..

2,213

518

4230010.SQ.FTS.B,

Zero

Cpn,

11/27/22

..

1,649

484

4236597.SQ.FTS.B,

Zero

Cpn,

11/30/22

..

8,732

3,121

4240797.SQ.FTS.B,

Zero

Cpn,

12/01/22

..

1,038

376

4246370.SQ.FTS.B,

Zero

Cpn,

12/02/22

..

34,093

9,200

4247777.SQ.FTS.B,

Zero

Cpn,

12/02/22

..

811

660

4267608.SQ.FTS.B,

Zero

Cpn,

12/04/22

..

5,175

3,212

4269693.SQ.FTS.B,

Zero

Cpn,

12/04/22

..

1,043

681

4271296.SQ.FTS.B,

Zero

Cpn,

12/04/22

..

540

435

4271659.SQ.FTS.B,

Zero

Cpn,

12/04/22

..

970

175

4271791.SQ.FTS.B,

Zero

Cpn,

12/04/22

..

1,010

590

4280865.SQ.FTS.B,

Zero

Cpn,

12/07/22

..

7,991

2,756

4309215.SQ.FTS.B,

Zero

Cpn,

12/10/22

..

2,829

800

4309887.SQ.FTS.B,

Zero

Cpn,

12/10/22

..

24,794

8,793

4314394.SQ.FTS.B,

Zero

Cpn,

12/11/22

..

4,763

1,457

4315019.SQ.FTS.B,

Zero

Cpn,

12/11/22

..

1,296

374

4315085.SQ.FTS.B,

Zero

Cpn,

12/11/22

..

753

275

4316913.SQ.FTS.B,

Zero

Cpn,

12/13/22

..

1,680

1,194

4325069.SQ.FTS.B,

Zero

Cpn,

12/15/22

..

772

174

4329350.SQ.FTS.B,

Zero

Cpn,

12/16/22

..

721

309

4333949.SQ.FTS.B,

Zero

Cpn,

12/17/22

..

1,348

479

4342268.SQ.FTS.B,

Zero

Cpn,

12/20/22

..

3,832

1,378

4343645.SQ.FTS.B,

Zero

Cpn,

12/21/22

..

761

621

4345972.SQ.FTS.B,

Zero

Cpn,

12/21/22

..

5,237

2,081

4352084.SQ.FTS.B,

Zero

Cpn,

12/22/22

..

1,688

600

4352239.SQ.FTS.B,

Zero

Cpn,

12/22/22

..

2,590

2,261

4353847.SQ.FTS.B,

Zero

Cpn,

12/23/22

..

1,379

770

4381468.SQ.FTS.B,

Zero

Cpn,

12/30/22

..

364

222

4383604.SQ.FTS.B,

Zero

Cpn,

12/30/22

..

3,682

1,780

4390373.SQ.FTS.B,

Zero

Cpn,

1/02/23

...

644

156

4390406.SQ.FTS.B,

Zero

Cpn,

1/02/23

...

950

606

4394205.SQ.FTS.B,

Zero

Cpn,

1/06/23

...

875

230

4394687.SQ.FTS.B,

Zero

Cpn,

1/06/23

...

1,123

547

4394708.SQ.FTS.B,

Zero

Cpn,

1/06/23

...

871

822

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

47

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

4395434.SQ.FTS.B,

Zero

Cpn,

1/07/23

...

$

913

$

281

4400606.SQ.FTS.B,

Zero

Cpn,

1/09/23

...

476

428

4401878.SQ.FTS.B,

Zero

Cpn,

1/09/23

...

3,100

2,204

4403215.SQ.FTS.B,

Zero

Cpn,

1/11/23

...

110

104

4406025.SQ.FTS.B,

Zero

Cpn,

1/13/23

...

2,454

1,036

4407793.SQ.FTS.B,

Zero

Cpn,

1/13/23

...

332

293

4408342.SQ.FTS.B,

Zero

Cpn,

1/14/23

...

2,840

1,821

4409278.SQ.FTS.B,

Zero

Cpn,

1/14/23

...

386

288

4412497.SQ.FTS.B,

Zero

Cpn,

1/15/23

...

677

236

4413064.SQ.FTS.B,

Zero

Cpn,

1/15/23

...

2,355

1,008

4413749.SQ.FTS.B,

Zero

Cpn,

1/16/23

...

458

365

4413957.SQ.FTS.B,

Zero

Cpn,

1/16/23

...

356

70

4428356.SQ.FTS.B,

Zero

Cpn,

1/21/23

...

2,326

1,925

4430457.SQ.FTS.B,

Zero

Cpn,

1/22/23

...

2,078

1,956

4430691.SQ.FTS.B,

Zero

Cpn,

1/22/23

...

1,009

245

4431496.SQ.FTS.B,

Zero

Cpn,

1/22/23

...

432

181

4432969.SQ.FTS.B,

Zero

Cpn,

1/23/23

...

2,767

2,075

4434260.SQ.FTS.B,

Zero

Cpn,

1/24/23

...

1,009

401

4436744.SQ.FTS.B,

Zero

Cpn,

1/26/23

...

424

398

4438299.SQ.FTS.B,

Zero

Cpn,

1/27/23

...

2,530

977

4438563.SQ.FTS.B,

Zero

Cpn,

1/27/23

...

14,155

4,048

4439170.SQ.FTS.B,

Zero

Cpn,

1/27/23

...

11,279

4,591

4450419.SQ.FTS.B,

Zero

Cpn,

2/02/23

...

9,923

3,263

4452962.SQ.FTS.B,

Zero

Cpn,

2/03/23

...

8,915

3,112

4453243.SQ.FTS.B,

Zero

Cpn,

2/04/23

...

11,014

8,744

4455128.SQ.FTS.B,

Zero

Cpn,

2/04/23

...

2,253

1,005

4456379.SQ.FTS.B,

Zero

Cpn,

2/05/23

...

5

4

4457642.SQ.FTS.B,

Zero

Cpn,

2/05/23

...

3,469

2,528

4459169.SQ.FTS.B,

Zero

Cpn,

2/06/23

...

2,487

1,088

4459340.SQ.FTS.B,

Zero

Cpn,

2/06/23

...

1,676

1,413

4460891.SQ.FTS.B,

Zero

Cpn,

2/07/23

...

209

200

4463189.SQ.FTS.B,

Zero

Cpn,

2/09/23

...

2,140

450

4463847.SQ.FTS.B,

Zero

Cpn,

2/09/23

...

1,898

896

4465207.SQ.FTS.B,

Zero

Cpn,

2/10/23

...

3,812

1,465

4466413.SQ.FTS.B,

Zero

Cpn,

2/11/23

...

368

357

4468040.SQ.FTS.B,

Zero

Cpn,

2/11/23

...

1,209

578

4469186.SQ.FTS.B,

Zero

Cpn,

2/12/23

...

4,472

2,623

4473681.SQ.FTS.B,

Zero

Cpn,

2/14/23

...

629

299

4475919.SQ.FTS.B,

Zero

Cpn,

2/16/23

...

2,742

1,507

4481454.SQ.FTS.B,

Zero

Cpn,

2/19/23

...

5,151

3,255

4481855.SQ.FTS.B,

Zero

Cpn,

2/19/23

...

1,079

413

4481874.SQ.FTS.B,

Zero

Cpn,

2/19/23

...

1,551

950

4483852.SQ.FTS.B,

Zero

Cpn,

2/19/23

...

24,573

13,500

4484475.SQ.FTS.B,

Zero

Cpn,

2/20/23

...

3,439

733

4484542.SQ.FTS.B,

Zero

Cpn,

2/20/23

...

6,016

1,785

4488928.SQ.FTS.B,

Zero

Cpn,

2/23/23

...

703

151

4488941.SQ.FTS.B,

Zero

Cpn,

2/23/23

...

2,468

1,936

4489974.SQ.FTS.B,

Zero

Cpn,

2/24/23

...

4,041

1,897

4490447.SQ.FTS.B,

Zero

Cpn,

2/24/23

...

2,823

1,894

4491455.SQ.FTS.B,

Zero

Cpn,

2/25/23

...

1,543

1,405

4494212.SQ.FTS.B,

Zero

Cpn,

2/26/23

...

657

597

4498674.SQ.FTS.B,

Zero

Cpn,

2/27/23

...

490

367

4498947.SQ.FTS.B,

Zero

Cpn,

2/28/23

...

630

266

4498995.SQ.FTS.B,

Zero

Cpn,

2/28/23

...

580

511

4499783.SQ.FTS.B,

Zero

Cpn,

2/28/23

...

2,186

1,066

4508474.SQ.FTS.B,

Zero

Cpn,

3/02/23

...

1,255

1,207

4508723.SQ.FTS.B,

Zero

Cpn,

3/02/23

...

6,372

2,935

4510936.SQ.FTS.B,

Zero

Cpn,

3/03/23

...

7,819

6,394

Description

Principal

Amount

Value

Block,

Inc.

(continued)

4511332.SQ.FTS.B,

Zero

Cpn,

3/03/23

...

$

8,283

$

7,980

4513107.SQ.FTS.B,

Zero

Cpn,

3/03/23

...

4,506

2,265

4513287.SQ.FTS.B,

Zero

Cpn,

3/04/23

...

12,361

4,246

4513804.SQ.FTS.B,

Zero

Cpn,

3/05/23

...

897

560

4514050.SQ.FTS.B,

Zero

Cpn,

3/05/23

...

613

569

4514072.SQ.FTS.B,

Zero

Cpn,

3/05/23

...

1,866

507

4516974.SQ.FTS.B,

Zero

Cpn,

3/07/23

...

1,307

1,190

4517554.SQ.FTS.B,

Zero

Cpn,

3/07/23

...

231

191

4518461.SQ.FTS.B,

Zero

Cpn,

3/08/23

...

2,733

805

4519611.SQ.FTS.B,

Zero

Cpn,

3/08/23

...

15,383

3,575

4520213.SQ.FTS.B,

Zero

Cpn,

3/08/23

...

430

313

4520306.SQ.FTS.B,

Zero

Cpn,

3/08/23

...

743

727

4523658.SQ.FTS.B,

Zero

Cpn,

3/09/23

...

552

527

4524496.SQ.FTS.B,

Zero

Cpn,

3/09/23

...

393

378

4525497.SQ.FTS.B,

Zero

Cpn,

3/10/23

...

680

633

4532062.SQ.FTS.B,

Zero

Cpn,

3/14/23

...

6,263

3,168

4532190.SQ.FTS.B,

Zero

Cpn,

3/14/23

...

69

65

4532929.SQ.FTS.B,

Zero

Cpn,

3/14/23

...

3,539

1,866

4534513.SQ.FTS.B,

Zero

Cpn,

3/15/23

...

571

324

4535094.SQ.FTS.B,

Zero

Cpn,

3/15/23

...

5,573

4,521

4537057.SQ.FTS.B,

Zero

Cpn,

3/16/23

...

349

124

4540937.SQ.FTS.B,

Zero

Cpn,

3/17/23

...

6,282

1,104

4540998.SQ.FTS.B,

Zero

Cpn,

3/17/23

...

16,170

14,749

3210332.SQ.FTS.B,

Zero

Cpn,

3/18/23

...

4,369

129

3212181.SQ.FTS.B,

Zero

Cpn,

3/18/23

...

380

12

4542771.SQ.FTS.B,

Zero

Cpn,

3/18/23

...

689

600

4542801.SQ.FTS.B,

Zero

Cpn,

3/18/23

...

3,133

2,272

4545114.SQ.FTS.B,

Zero

Cpn,

3/20/23

...

332

322

4545216.SQ.FTS.B,

Zero

Cpn,

3/20/23

...

1,651

926

4545254.SQ.FTS.B,

Zero

Cpn,

3/20/23

...

7,007

6,523

4545669.SQ.FTS.B,

Zero

Cpn,

3/20/23

...

3,843

2,935

4546342.SQ.FTS.B,

Zero

Cpn,

3/20/23

...

3,294

577

4548407.SQ.FTS.B,

Zero

Cpn,

3/21/23

...

24,971

13,906

4548999.SQ.FTS.B,

Zero

Cpn,

3/21/23

...

6,734

3,742

4549623.SQ.FTS.B,

Zero

Cpn,

3/21/23

...

6,283

5,994

4549725.SQ.FTS.B,

Zero

Cpn,

3/21/23

...

12,172

10,556

4549873.SQ.FTS.B,

Zero

Cpn,

3/21/23

...

910

876

4549880.SQ.FTS.B,

Zero

Cpn,

3/21/23

...

3,819

1,177

4549891.SQ.FTS.B,

Zero

Cpn,

3/21/23

...

492

483

4549903.SQ.FTS.B,

Zero

Cpn,

3/21/23

...

3,387

2,625

4550163.SQ.FTS.B,

Zero

Cpn,

3/21/23

...

1,980

827

4550184.SQ.FTS.B,

Zero

Cpn,

3/21/23

...

303

262

4550265.SQ.FTS.B,

Zero

Cpn,

3/21/23

...

545

370

4552365.SQ.FTS.B,

Zero

Cpn,

3/22/23

...

3,739

3,198

4555245.SQ.FTS.B,

Zero

Cpn,

3/23/23

...

14,126

7,479

4556429.SQ.FTS.B,

Zero

Cpn,

3/23/23

...

3,512

1,011

4556489.SQ.FTS.B,

Zero

Cpn,

3/23/23

...

5,051

3,172

4556569.SQ.FTS.B,

Zero

Cpn,

3/23/23

...

18,356

6,471

4557410.SQ.FTS.B,

Zero

Cpn,

3/23/23

...

5,012

2,416

4558146.SQ.FTS.B,

Zero

Cpn,

3/23/23

...

651

622

4558347.SQ.FTS.B,

Zero

Cpn,

3/23/23

...

1,070

725

4561168.SQ.FTS.B,

Zero

Cpn,

3/24/23

...

715

143

3232249.SQ.FTS.B,

Zero

Cpn,

3/25/23

...

828

28

4561400.SQ.FTS.B,

Zero

Cpn,

3/25/23

...

32,769

24,396

4561751.SQ.FTS.B,

Zero

Cpn,

3/25/23

...

3,074

798

4561908.SQ.FTS.B,

Zero

Cpn,

3/25/23

...

2,504

2,144

3233993.SQ.FTS.B,

Zero

Cpn,

3/26/23

...

428

13

4562152.SQ.FTS.B,

Zero

Cpn,

3/26/23

...

1,368

1,344

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

48

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

4562273.SQ.FTS.B,

Zero

Cpn,

3/26/23

...

$

3,405

$

2,576

4562420.SQ.FTS.B,

Zero

Cpn,

3/26/23

...

557

456

4562460.SQ.FTS.B,

Zero

Cpn,

3/26/23

...

805

749

4562488.SQ.FTS.B,

Zero

Cpn,

3/26/23

...

1,686

1,597

4562746.SQ.FTS.B,

Zero

Cpn,

3/27/23

...

743

569

4563247.SQ.FTS.B,

Zero

Cpn,

3/27/23

...

222

218

4563389.SQ.FTS.B,

Zero

Cpn,

3/27/23

...

4,865

2,266

4564162.SQ.FTS.B,

Zero

Cpn,

3/27/23

...

961

530

4564747.SQ.FTS.B,

Zero

Cpn,

3/27/23

...

3,066

2,388

4564953.SQ.FTS.B,

Zero

Cpn,

3/27/23

...

253

249

4564968.SQ.FTS.B,

Zero

Cpn,

3/27/23

...

1,594

1,510

4565005.SQ.FTS.B,

Zero

Cpn,

3/27/23

...

7,578

5,564

4565618.SQ.FTS.B,

Zero

Cpn,

3/27/23

...

672

606

4565857.SQ.FTS.B,

Zero

Cpn,

3/27/23

...

15,468

10,841

3234758.SQ.FTS.B,

Zero

Cpn,

3/28/23

...

637

19

3237194.SQ.FTS.B,

Zero

Cpn,

3/28/23

...

3,467

124

4566140.SQ.FTS.B,

Zero

Cpn,

3/28/23

...

1,587

1,397

4566160.SQ.FTS.B,

Zero

Cpn,

3/28/23

...

617

606

4566912.SQ.FTS.B,

Zero

Cpn,

3/28/23

...

7,905

6,944

4567796.SQ.FTS.B,

Zero

Cpn,

3/28/23

...

424

381

3238373.SQ.FTS.B,

Zero

Cpn,

3/29/23

...

870

22

4570953.SQ.FTS.B,

Zero

Cpn,

3/29/23

...

174

171

4571370.SQ.FTS.B,

Zero

Cpn,

3/29/23

...

6,832

6,201

4575345.SQ.FTS.B,

Zero

Cpn,

3/30/23

...

3,434

3,370

3243747.SQ.FTS.B,

Zero

Cpn,

4/01/23

...

1,299

38

4579107.SQ.FTS.B,

Zero

Cpn,

4/01/23

...

63

62

4579269.SQ.FTS.B,

Zero

Cpn,

4/01/23

...

295

257

4579623.SQ.FTS.B,

Zero

Cpn,

4/01/23

...

30,289

11,082

4580785.SQ.FTS.B,

Zero

Cpn,

4/01/23

...

2,601

1,845

4581065.SQ.FTS.B,

Zero

Cpn,

4/02/23

...

1,738

1,691

4581333.SQ.FTS.B,

Zero

Cpn,

4/02/23

...

8,825

5,800

4581555.SQ.FTS.B,

Zero

Cpn,

4/02/23

...

12,644

10,253

4581920.SQ.FTS.B,

Zero

Cpn,

4/03/23

...

751

733

4582045.SQ.FTS.B,

Zero

Cpn,

4/03/23

...

458

198

4582331.SQ.FTS.B,

Zero

Cpn,

4/03/23

...

6,712

3,874

4584313.SQ.FTS.B,

Zero

Cpn,

4/04/23

...

1,196

909

4584356.SQ.FTS.B,

Zero

Cpn,

4/04/23

...

2,339

2,279

4585539.SQ.FTS.B,

Zero

Cpn,

4/04/23

...

901

230

4586453.SQ.FTS.B,

Zero

Cpn,

4/04/23

...

321

315

4586510.SQ.FTS.B,

Zero

Cpn,

4/04/23

...

7,757

3,710

4587619.SQ.FTS.B,

Zero

Cpn,

4/05/23

...

541

467

4589242.SQ.FTS.B,

Zero

Cpn,

4/05/23

...

576

389

4592132.SQ.FTS.B,

Zero

Cpn,

4/06/23

...

245

222

4593197.SQ.FTS.B,

Zero

Cpn,

4/06/23

...

321

316

4593226.SQ.FTS.B,

Zero

Cpn,

4/06/23

...

17,911

11,296

3255010.SQ.FTS.B,

Zero

Cpn,

4/07/23

...

1,659

61

4597946.SQ.FTS.B,

Zero

Cpn,

4/07/23

...

1,161

937

4598713.SQ.FTS.B,

Zero

Cpn,

4/07/23

...

5,215

4,481

4599623.SQ.FTS.B,

Zero

Cpn,

4/07/23

...

1,913

880

4600522.SQ.FTS.B,

Zero

Cpn,

4/07/23

...

1,259

1,212

4600950.SQ.FTS.B,

Zero

Cpn,

4/07/23

...

1,310

891

4601016.SQ.FTS.B,

Zero

Cpn,

4/07/23

...

1,959

1,901

4601418.SQ.FTS.B,

Zero

Cpn,

4/08/23

...

5,436

4,245

4601908.SQ.FTS.B,

Zero

Cpn,

4/08/23

...

1,005

688

4603629.SQ.FTS.B,

Zero

Cpn,

4/08/23

...

807

778

4603702.SQ.FTS.B,

Zero

Cpn,

4/08/23

...

1,744

1,646

4603785.SQ.FTS.B,

Zero

Cpn,

4/08/23

...

2,545

1,200

3260194.SQ.FTS.B,

Zero

Cpn,

4/09/23

...

204

8

Description

Principal

Amount

Value

Block,

Inc.

(continued)

4604407.SQ.FTS.B,

Zero

Cpn,

4/09/23

...

$

1,697

$

1,276

4604711.SQ.FTS.B,

Zero

Cpn,

4/09/23

...

221

217

4604760.SQ.FTS.B,

Zero

Cpn,

4/09/23

...

593

517

4604781.SQ.FTS.B,

Zero

Cpn,

4/09/23

...

2,499

2,436

4605575.SQ.FTS.B,

Zero

Cpn,

4/10/23

...

1,202

1,135

4605589.SQ.FTS.B,

Zero

Cpn,

4/10/23

...

2,241

1,656

4606149.SQ.FTS.B,

Zero

Cpn,

4/11/23

...

4,389

2,803

4606248.SQ.FTS.B,

Zero

Cpn,

4/11/23

...

102

100

4606282.SQ.FTS.B,

Zero

Cpn,

4/11/23

...

7,386

6,376

4606526.SQ.FTS.B,

Zero

Cpn,

4/11/23

...

462

240

4606576.SQ.FTS.B,

Zero

Cpn,

4/11/23

...

2,775

2,527

4606810.SQ.FTS.B,

Zero

Cpn,

4/11/23

...

788

772

4606838.SQ.FTS.B,

Zero

Cpn,

4/11/23

...

931

917

4607766.SQ.FTS.B,

Zero

Cpn,

4/12/23

...

1,332

761

4607817.SQ.FTS.B,

Zero

Cpn,

4/12/23

...

1,224

1,125

4608626.SQ.FTS.B,

Zero

Cpn,

4/12/23

...

1,369

1,184

4608679.SQ.FTS.B,

Zero

Cpn,

4/12/23

...

678

662

4609191.SQ.FTS.B,

Zero

Cpn,

4/12/23

...

5,059

2,944

4609411.SQ.FTS.B,

Zero

Cpn,

4/12/23

...

4,437

3,405

4610340.SQ.FTS.B,

Zero

Cpn,

4/12/23

...

1,324

1,296

4610422.SQ.FTS.B,

Zero

Cpn,

4/13/23

...

1,071

1,048

4610483.SQ.FTS.B,

Zero

Cpn,

4/13/23

...

42,908

28,936

4612864.SQ.FTS.B,

Zero

Cpn,

4/13/23

...

1,227

375

4612909.SQ.FTS.B,

Zero

Cpn,

4/13/23

...

19,767

12,036

3265933.SQ.FTS.B,

Zero

Cpn,

4/14/23

...

324

12

4617878.SQ.FTS.B,

Zero

Cpn,

4/14/23

...

1,020

883

4618545.SQ.FTS.B,

Zero

Cpn,

4/14/23

...

2,720

1,041

4618572.SQ.FTS.B,

Zero

Cpn,

4/14/23

...

1,781

1,423

4618615.SQ.FTS.B,

Zero

Cpn,

4/14/23

...

647

635

4619556.SQ.FTS.B,

Zero

Cpn,

4/14/23

...

2,894

1,741

4620208.SQ.FTS.B,

Zero

Cpn,

4/14/23

...

4,020

2,274

4621187.SQ.FTS.B,

Zero

Cpn,

4/15/23

...

506

422

4622336.SQ.FTS.B,

Zero

Cpn,

4/15/23

...

1,531

705

4622912.SQ.FTS.B,

Zero

Cpn,

4/15/23

...

12,026

7,540

4623208.SQ.FTS.B,

Zero

Cpn,

4/15/23

...

2,163

1,408

4623403.SQ.FTS.B,

Zero

Cpn,

4/15/23

...

2,656

1,365

4623570.SQ.FTS.B,

Zero

Cpn,

4/15/23

...

140

122

4623595.SQ.FTS.B,

Zero

Cpn,

4/15/23

...

406

394

4623698.SQ.FTS.B,

Zero

Cpn,

4/15/23

...

4,549

1,990

4623781.SQ.FTS.B,

Zero

Cpn,

4/16/23

...

516

278

4623973.SQ.FTS.B,

Zero

Cpn,

4/16/23

...

627

591

4625269.SQ.FTS.B,

Zero

Cpn,

4/18/23

...

815

796

4625319.SQ.FTS.B,

Zero

Cpn,

4/18/23

...

101

100

4625409.SQ.FTS.B,

Zero

Cpn,

4/18/23

...

2,683

596

4626036.SQ.FTS.B,

Zero

Cpn,

4/18/23

...

1,934

1,840

4626052.SQ.FTS.B,

Zero

Cpn,

4/18/23

...

3,539

643

4626080.SQ.FTS.B,

Zero

Cpn,

4/18/23

...

1,418

1,264

4626247.SQ.FTS.B,

Zero

Cpn,

4/18/23

...

1,589

1,551

4626395.SQ.FTS.B,

Zero

Cpn,

4/18/23

...

1,891

1,846

4626904.SQ.FTS.B,

Zero

Cpn,

4/18/23

...

4,667

2,865

4627097.SQ.FTS.B,

Zero

Cpn,

4/18/23

...

1,761

1,165

4627311.SQ.FTS.B,

Zero

Cpn,

4/18/23

...

2,693

2,584

4627892.SQ.FTS.B,

Zero

Cpn,

4/18/23

...

509

463

4627946.SQ.FTS.B,

Zero

Cpn,

4/18/23

...

5,371

3,708

4628916.SQ.FTS.B,

Zero

Cpn,

4/19/23

...

1,848

1,571

4629111.SQ.FTS.B,

Zero

Cpn,

4/19/23

...

471

460

4629866.SQ.FTS.B,

Zero

Cpn,

4/19/23

...

1,609

1,421

4629903.SQ.FTS.B,

Zero

Cpn,

4/19/23

...

5,630

5,210

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

49

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

4630150.SQ.FTS.B,

Zero

Cpn,

4/19/23

...

$

7,706

$

5,349

4630341.SQ.FTS.B,

Zero

Cpn,

4/19/23

...

1,059

1,038

4630473.SQ.FTS.B,

Zero

Cpn,

4/19/23

...

465

444

4630958.SQ.FTS.B,

Zero

Cpn,

4/20/23

...

1,587

1,510

4631665.SQ.FTS.B,

Zero

Cpn,

4/20/23

...

4,254

3,315

4635005.SQ.FTS.B,

Zero

Cpn,

4/21/23

...

12,525

10,054

4635804.SQ.FTS.B,

Zero

Cpn,

4/21/23

...

732

551

4635832.SQ.FTS.B,

Zero

Cpn,

4/21/23

...

1,387

1,286

4635917.SQ.FTS.B,

Zero

Cpn,

4/21/23

...

1,729

1,699

4636433.SQ.FTS.B,

Zero

Cpn,

4/21/23

...

832

792

4637259.SQ.FTS.B,

Zero

Cpn,

4/22/23

...

146

132

4637265.SQ.FTS.B,

Zero

Cpn,

4/22/23

...

754

697

4637302.SQ.FTS.B,

Zero

Cpn,

4/22/23

...

77

74

4637732.SQ.FTS.B,

Zero

Cpn,

4/22/23

...

2,430

2,081

4638490.SQ.FTS.B,

Zero

Cpn,

4/22/23

...

4,309

4,206

4639123.SQ.FTS.B,

Zero

Cpn,

4/22/23

...

1,166

224

4639291.SQ.FTS.B,

Zero

Cpn,

4/22/23

...

4,642

2,353

4639352.SQ.FTS.B,

Zero

Cpn,

4/22/23

...

3,157

3,088

4639511.SQ.FTS.B,

Zero

Cpn,

4/22/23

...

3,008

1,487

3297660.SQ.FTS.B,

Zero

Cpn,

4/24/23

...

556

24

4640528.SQ.FTS.B,

Zero

Cpn,

4/24/23

...

16

16

4641070.SQ.FTS.B,

Zero

Cpn,

4/25/23

...

697

681

4641457.SQ.FTS.B,

Zero

Cpn,

4/25/23

...

6,284

6,060

4641700.SQ.FTS.B,

Zero

Cpn,

4/25/23

...

212

177

4641955.SQ.FTS.B,

Zero

Cpn,

4/25/23

...

13,703

8,319

4642604.SQ.FTS.B,

Zero

Cpn,

4/25/23

...

66

64

4643200.SQ.FTS.B,

Zero

Cpn,

4/25/23

...

291

285

4643908.SQ.FTS.B,

Zero

Cpn,

4/25/23

...

524

491

4644765.SQ.FTS.B,

Zero

Cpn,

4/26/23

...

1,333

1,093

4645543.SQ.FTS.B,

Zero

Cpn,

4/26/23

...

1,864

1,340

4645612.SQ.FTS.B,

Zero

Cpn,

4/26/23

...

1,263

1,184

4645672.SQ.FTS.B,

Zero

Cpn,

4/26/23

...

10,185

4,790

4645843.SQ.FTS.B,

Zero

Cpn,

4/26/23

...

1,274

795

4646107.SQ.FTS.B,

Zero

Cpn,

4/26/23

...

4,786

4,320

4646691.SQ.FTS.B,

Zero

Cpn,

4/26/23

...

757

718

4648723.SQ.FTS.B,

Zero

Cpn,

4/27/23

...

275

269

4650952.SQ.FTS.B,

Zero

Cpn,

4/28/23

...

3,249

3,189

4651681.SQ.FTS.B,

Zero

Cpn,

4/28/23

...

761

742

4652170.SQ.FTS.B,

Zero

Cpn,

4/28/23

...

3,326

802

4652693.SQ.FTS.B,

Zero

Cpn,

4/28/23

...

481

402

4652897.SQ.FTS.B,

Zero

Cpn,

4/28/23

...

442

429

4653286.SQ.FTS.B,

Zero

Cpn,

4/28/23

...

3,428

2,838

4653738.SQ.FTS.B,

Zero

Cpn,

4/28/23

...

61

59

4653809.SQ.FTS.B,

Zero

Cpn,

4/28/23

...

6,423

2,701

4654347.SQ.FTS.B,

Zero

Cpn,

4/29/23

...

1,145

652

4654724.SQ.FTS.B,

Zero

Cpn,

4/29/23

...

439

251

4654768.SQ.FTS.B,

Zero

Cpn,

4/29/23

...

788

673

4655105.SQ.FTS.B,

Zero

Cpn,

4/29/23

...

2,004

1,823

4655302.SQ.FTS.B,

Zero

Cpn,

4/29/23

...

4,101

2,419

4655688.SQ.FTS.B,

Zero

Cpn,

4/29/23

...

8,643

8,268

3311752.SQ.FTS.B,

Zero

Cpn,

4/30/23

...

252

11

4656730.SQ.FTS.B,

Zero

Cpn,

4/30/23

...

578

564

4656767.SQ.FTS.B,

Zero

Cpn,

4/30/23

...

2,284

564

4657371.SQ.FTS.B,

Zero

Cpn,

4/30/23

...

7,556

7,244

4658536.SQ.FTS.B,

Zero

Cpn,

5/01/23

...

179

176

4658627.SQ.FTS.B,

Zero

Cpn,

5/01/23

...

16,245

7,937

4659138.SQ.FTS.B,

Zero

Cpn,

5/01/23

...

6,251

4,240

4659232.SQ.FTS.B,

Zero

Cpn,

5/01/23

...

1,150

663

Description

Principal

Amount

Value

Block,

Inc.

(continued)

4659292.SQ.FTS.B,

Zero

Cpn,

5/01/23

...

$

1,048

$

227

4659908.SQ.FTS.B,

Zero

Cpn,

5/01/23

...

5,086

4,979

4660315.SQ.FTS.B,

Zero

Cpn,

5/01/23

...

2,792

2,659

4660577.SQ.FTS.B,

Zero

Cpn,

5/01/23

...

5,607

2,039

4660611.SQ.FTS.B,

Zero

Cpn,

5/01/23

...

3,920

2,034

4660991.SQ.FTS.B,

Zero

Cpn,

5/01/23

...

992

825

4661184.SQ.FTS.B,

Zero

Cpn,

5/02/23

...

168

165

4662056.SQ.FTS.B,

Zero

Cpn,

5/02/23

...

40,082

16,878

4662423.SQ.FTS.B,

Zero

Cpn,

5/02/23

...

318

306

4662464.SQ.FTS.B,

Zero

Cpn,

5/02/23

...

8,863

8,703

4663528.SQ.FTS.B,

Zero

Cpn,

5/02/23

...

153

150

4663948.SQ.FTS.B,

Zero

Cpn,

5/02/23

...

1,576

1,413

4664050.SQ.FTS.B,

Zero

Cpn,

5/02/23

...

1,524

1,407

4665723.SQ.FTS.B,

Zero

Cpn,

5/03/23

...

813

748

4665741.SQ.FTS.B,

Zero

Cpn,

5/03/23

...

1,483

1,227

4666583.SQ.FTS.B,

Zero

Cpn,

5/03/23

...

1,710

1,674

4666656.SQ.FTS.B,

Zero

Cpn,

5/03/23

...

1,831

1,611

4668405.SQ.FTS.B,

Zero

Cpn,

5/04/23

...

3,420

3,020

4668525.SQ.FTS.B,

Zero

Cpn,

5/04/23

...

629

130

4669122.SQ.FTS.B,

Zero

Cpn,

5/04/23

...

148

137

4669203.SQ.FTS.B,

Zero

Cpn,

5/04/23

...

432

87

4669210.SQ.FTS.B,

Zero

Cpn,

5/04/23

...

24

24

4669930.SQ.FTS.B,

Zero

Cpn,

5/04/23

...

1,632

1,056

4670069.SQ.FTS.B,

Zero

Cpn,

5/04/23

...

464

445

4671714.SQ.FTS.B,

Zero

Cpn,

5/04/23

...

685

673

4671853.SQ.FTS.B,

Zero

Cpn,

5/04/23

...

480

471

4671944.SQ.FTS.B,

Zero

Cpn,

5/04/23

...

2,523

2,467

3320535.SQ.FTS.B,

Zero

Cpn,

5/05/23

...

13,177

659

4672819.SQ.FTS.B,

Zero

Cpn,

5/05/23

...

873

854

4674643.SQ.FTS.B,

Zero

Cpn,

5/05/23

...

2,078

2,027

4675528.SQ.FTS.B,

Zero

Cpn,

5/05/23

...

7,780

7,571

4675847.SQ.FTS.B,

Zero

Cpn,

5/05/23

...

1,172

1,147

4676090.SQ.FTS.B,

Zero

Cpn,

5/05/23

...

1,322

1,268

4678706.SQ.FTS.B,

Zero

Cpn,

5/07/23

...

854

835

4679063.SQ.FTS.B,

Zero

Cpn,

5/08/23

...

3,089

2,369

4679509.SQ.FTS.B,

Zero

Cpn,

5/08/23

...

780

735

4681090.SQ.FTS.B,

Zero

Cpn,

5/08/23

...

1,211

387

4681262.SQ.FTS.B,

Zero

Cpn,

5/08/23

...

2,573

2,220

4682306.SQ.FTS.B,

Zero

Cpn,

5/08/23

...

22,626

11,054

4682757.SQ.FTS.B,

Zero

Cpn,

5/08/23

...

2,313

2,087

4682871.SQ.FTS.B,

Zero

Cpn,

5/08/23

...

122

112

4684103.SQ.FTS.B,

Zero

Cpn,

5/08/23

...

1,353

533

4684220.SQ.FTS.B,

Zero

Cpn,

5/08/23

...

1,064

975

4684254.SQ.FTS.B,

Zero

Cpn,

5/08/23

...

3,749

2,264

4689480.SQ.FTS.B,

Zero

Cpn,

5/09/23

...

550

529

4689501.SQ.FTS.B,

Zero

Cpn,

5/09/23

...

641

430

4690026.SQ.FTS.B,

Zero

Cpn,

5/09/23

...

119

110

4692975.SQ.FTS.B,

Zero

Cpn,

5/09/23

...

3,770

3,681

4693096.SQ.FTS.B,

Zero

Cpn,

5/09/23

...

441

416

4693103.SQ.FTS.B,

Zero

Cpn,

5/09/23

...

1,127

1,106

4693224.SQ.FTS.B,

Zero

Cpn,

5/09/23

...

1,392

1,176

4693308.SQ.FTS.B,

Zero

Cpn,

5/09/23

...

1,764

1,527

4693681.SQ.FTS.B,

Zero

Cpn,

5/09/23

...

506

454

4704761.SQ.FTS.B,

Zero

Cpn,

5/10/23

...

1,417

390

4705097.SQ.FTS.B,

Zero

Cpn,

5/10/23

...

43

43

4705360.SQ.FTS.B,

Zero

Cpn,

5/10/23

...

2,924

2,862

4706038.SQ.FTS.B,

Zero

Cpn,

5/10/23

...

2,206

2,159

4706260.SQ.FTS.B,

Zero

Cpn,

5/10/23

...

3,411

3,285

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

50

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

4706548.SQ.FTS.B,

Zero

Cpn,

5/10/23

...

$

2,628

$

2,375

4706761.SQ.FTS.B,

Zero

Cpn,

5/10/23

...

1,699

1,433

4706953.SQ.FTS.B,

Zero

Cpn,

5/10/23

...

1,342

1,303

3332853.SQ.FTS.B,

Zero

Cpn,

5/11/23

...

11,644

664

4707130.SQ.FTS.B,

Zero

Cpn,

5/11/23

...

4,790

4,648

4707710.SQ.FTS.B,

Zero

Cpn,

5/11/23

...

3,566

3,502

4708711.SQ.FTS.B,

Zero

Cpn,

5/11/23

...

1,637

1,017

3336181.SQ.FTS.B,

Zero

Cpn,

5/12/23

...

7,935

579

3336690.SQ.FTS.B,

Zero

Cpn,

5/12/23

...

486

28

4709189.SQ.FTS.B,

Zero

Cpn,

5/12/23

...

1,596

1,562

4710517.SQ.FTS.B,

Zero

Cpn,

5/12/23

...

4,161

2,306

4712133.SQ.FTS.B,

Zero

Cpn,

5/12/23

...

3,033

2,893

4713702.SQ.FTS.B,

Zero

Cpn,

5/13/23

...

956

941

4714015.SQ.FTS.B,

Zero

Cpn,

5/13/23

...

350

337

4714464.SQ.FTS.B,

Zero

Cpn,

5/14/23

...

354

334

4714475.SQ.FTS.B,

Zero

Cpn,

5/14/23

...

60

59

4717011.SQ.FTS.B,

Zero

Cpn,

5/15/23

...

8,731

5,537

4717850.SQ.FTS.B,

Zero

Cpn,

5/15/23

...

3,244

2,276

4718203.SQ.FTS.B,

Zero

Cpn,

5/15/23

...

1,989

1,155

4719485.SQ.FTS.B,

Zero

Cpn,

5/15/23

...

1,375

579

4720069.SQ.FTS.B,

Zero

Cpn,

5/16/23

...

587

577

4720328.SQ.FTS.B,

Zero

Cpn,

5/16/23

...

8,667

8,487

4722278.SQ.FTS.B,

Zero

Cpn,

5/16/23

...

1,037

999

4723323.SQ.FTS.B,

Zero

Cpn,

5/16/23

...

1,085

424

4724436.SQ.FTS.B,

Zero

Cpn,

5/16/23

...

11,647

6,237

4724687.SQ.FTS.B,

Zero

Cpn,

5/16/23

...

11,968

8,197

3344944.SQ.FTS.B,

Zero

Cpn,

5/17/23

...

877

52

4726230.SQ.FTS.B,

Zero

Cpn,

5/17/23

...

420

414

4728302.SQ.FTS.B,

Zero

Cpn,

5/17/23

...

59,188

32,594

4738625.SQ.FTS.B,

Zero

Cpn,

5/18/23

...

1,998

1,953

4739232.SQ.FTS.B,

Zero

Cpn,

5/18/23

...

2,189

2,125

4741094.SQ.FTS.B,

Zero

Cpn,

5/18/23

...

969

947

4742953.SQ.FTS.B,

Zero

Cpn,

5/18/23

...

140

131

3361155.SQ.FTS.B,

Zero

Cpn,

5/19/23

...

1,466

78

3362596.SQ.FTS.B,

Zero

Cpn,

5/19/23

...

111

7

4744445.SQ.FTS.B,

Zero

Cpn,

5/19/23

...

440

432

4746441.SQ.FTS.B,

Zero

Cpn,

5/19/23

...

2,837

2,405

4746932.SQ.FTS.B,

Zero

Cpn,

5/19/23

...

2,020

1,979

4748608.SQ.FTS.B,

Zero

Cpn,

5/19/23

...

2,595

2,430

4749297.SQ.FTS.B,

Zero

Cpn,

5/19/23

...

1,287

1,253

3365511.SQ.FTS.B,

Zero

Cpn,

5/20/23

...

243

14

3366564.SQ.FTS.B,

Zero

Cpn,

5/20/23

...

120

7

4749657.SQ.FTS.B,

Zero

Cpn,

5/20/23

...

6,355

6,233

4750494.SQ.FTS.B,

Zero

Cpn,

5/20/23

...

278

258

4750808.SQ.FTS.B,

Zero

Cpn,

5/21/23

...

1,274

1,236

4750892.SQ.FTS.B,

Zero

Cpn,

5/21/23

...

2,955

2,870

4751088.SQ.FTS.B,

Zero

Cpn,

5/21/23

...

531

520

4751574.SQ.FTS.B,

Zero

Cpn,

5/21/23

...

19,069

17,317

4754410.SQ.FTS.B,

Zero

Cpn,

5/22/23

...

1,906

1,736

4754715.SQ.FTS.B,

Zero

Cpn,

5/22/23

...

2,309

2,183

4754806.SQ.FTS.B,

Zero

Cpn,

5/22/23

...

1,973

1,906

4754939.SQ.FTS.B,

Zero

Cpn,

5/22/23

...

6,657

6,505

4755517.SQ.FTS.B,

Zero

Cpn,

5/22/23

...

3,044

2,051

4755875.SQ.FTS.B,

Zero

Cpn,

5/22/23

...

1,444

1,409

4757139.SQ.FTS.B,

Zero

Cpn,

5/22/23

...

6,048

5,545

3371556.SQ.FTS.B,

Zero

Cpn,

5/23/23

...

698

42

4761196.SQ.FTS.B,

Zero

Cpn,

5/23/23

...

671

655

4761481.SQ.FTS.B,

Zero

Cpn,

5/23/23

...

4,254

2,154

Description

Principal

Amount

Value

Block,

Inc.

(continued)

4761587.SQ.FTS.B,

Zero

Cpn,

5/23/23

...

$

7,802

$

7,278

4762104.SQ.FTS.B,

Zero

Cpn,

5/23/23

...

782

464

4763575.SQ.FTS.B,

Zero

Cpn,

5/23/23

...

1,785

1,370

4764212.SQ.FTS.B,

Zero

Cpn,

5/23/23

...

1,842

1,793

4765417.SQ.FTS.B,

Zero

Cpn,

5/23/23

...

1,699

1,608

4765550.SQ.FTS.B,

Zero

Cpn,

5/23/23

...

2,029

1,931

4765576.SQ.FTS.B,

Zero

Cpn,

5/23/23

...

1,323

1,290

4773719.SQ.FTS.B,

Zero

Cpn,

5/24/23

...

3,651

3,278

4774024.SQ.FTS.B,

Zero

Cpn,

5/24/23

...

2,589

2,529

4774201.SQ.FTS.B,

Zero

Cpn,

5/24/23

...

9,040

8,878

4777729.SQ.FTS.B,

Zero

Cpn,

5/24/23

...

1,735

1,686

4778581.SQ.FTS.B,

Zero

Cpn,

5/24/23

...

1,570

1,535

4779389.SQ.FTS.B,

Zero

Cpn,

5/25/23

...

6,914

6,730

4779590.SQ.FTS.B,

Zero

Cpn,

5/25/23

...

10,801

4,813

4779694.SQ.FTS.B,

Zero

Cpn,

5/25/23

...

7,751

7,564

4784066.SQ.FTS.B,

Zero

Cpn,

5/26/23

...

2,541

2,465

4784859.SQ.FTS.B,

Zero

Cpn,

5/26/23

...

497

488

4785538.SQ.FTS.B,

Zero

Cpn,

5/27/23

...

2,626

2,239

4785637.SQ.FTS.B,

Zero

Cpn,

5/27/23

...

1,066

1,046

4786115.SQ.FTS.B,

Zero

Cpn,

5/28/23

...

208

204

4786326.SQ.FTS.B,

Zero

Cpn,

5/28/23

...

1,161

1,138

4786780.SQ.FTS.B,

Zero

Cpn,

5/29/23

...

838

798

4789284.SQ.FTS.B,

Zero

Cpn,

5/29/23

...

291

286

4789346.SQ.FTS.B,

Zero

Cpn,

5/29/23

...

6,004

3,180

4789674.SQ.FTS.B,

Zero

Cpn,

5/29/23

...

935

917

4790074.SQ.FTS.B,

Zero

Cpn,

5/29/23

...

1,864

895

4790139.SQ.FTS.B,

Zero

Cpn,

5/29/23

...

2,825

2,610

4790753.SQ.FTS.B,

Zero

Cpn,

5/29/23

...

1,613

1,568

4790964.SQ.FTS.B,

Zero

Cpn,

5/29/23

...

13,435

12,729

4793362.SQ.FTS.B,

Zero

Cpn,

5/30/23

...

2,526

2,464

4794467.SQ.FTS.B,

Zero

Cpn,

5/30/23

...

116

112

4794489.SQ.FTS.B,

Zero

Cpn,

5/30/23

...

18

18

4794501.SQ.FTS.B,

Zero

Cpn,

5/30/23

...

1,022

999

4794632.SQ.FTS.B,

Zero

Cpn,

5/30/23

...

2,441

2,390

4794897.SQ.FTS.B,

Zero

Cpn,

5/30/23

...

760

387

4794948.SQ.FTS.B,

Zero

Cpn,

5/30/23

...

1,573

1,531

4795042.SQ.FTS.B,

Zero

Cpn,

5/30/23

...

407

227

4795965.SQ.FTS.B,

Zero

Cpn,

5/30/23

...

677

547

4795990.SQ.FTS.B,

Zero

Cpn,

5/30/23

...

2,022

1,976

4796072.SQ.FTS.B,

Zero

Cpn,

5/30/23

...

6,987

6,751

4796271.SQ.FTS.B,

Zero

Cpn,

5/30/23

...

3,992

3,474

4796389.SQ.FTS.B,

Zero

Cpn,

5/30/23

...

818

798

4796494.SQ.FTS.B,

Zero

Cpn,

5/30/23

...

482

434

4796844.SQ.FTS.B,

Zero

Cpn,

6/01/23

...

6,107

5,963

4798349.SQ.FTS.B,

Zero

Cpn,

6/01/23

...

4,176

4,097

4798934.SQ.FTS.B,

Zero

Cpn,

6/01/23

...

864

842

4799006.SQ.FTS.B,

Zero

Cpn,

6/01/23

...

2,909

2,828

4799463.SQ.FTS.B,

Zero

Cpn,

6/01/23

...

1,050

941

4799518.SQ.FTS.B,

Zero

Cpn,

6/01/23

...

259

254

4799750.SQ.FTS.B,

Zero

Cpn,

6/01/23

...

3,222

2,550

4799793.SQ.FTS.B,

Zero

Cpn,

6/01/23

...

9,069

6,095

3401486.SQ.FTS.B,

Zero

Cpn,

6/02/23

...

263

14

4805377.SQ.FTS.B,

Zero

Cpn,

6/02/23

...

4,670

2,606

4805729.SQ.FTS.B,

Zero

Cpn,

6/02/23

...

221

217

4806642.SQ.FTS.B,

Zero

Cpn,

6/02/23

...

12,390

12,054

4809299.SQ.FTS.B,

Zero

Cpn,

6/02/23

...

6,897

6,757

4809802.SQ.FTS.B,

Zero

Cpn,

6/02/23

...

157

154

4809823.SQ.FTS.B,

Zero

Cpn,

6/02/23

...

1,111

575

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

51

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

3407926.SQ.FTS.B,

Zero

Cpn,

6/03/23

...

$

1,511

$

90

4810028.SQ.FTS.B,

Zero

Cpn,

6/03/23

...

1,875

1,340

4810478.SQ.FTS.B,

Zero

Cpn,

6/03/23

...

20,260

12,113

4811947.SQ.FTS.B,

Zero

Cpn,

6/03/23

...

422

413

4812032.SQ.FTS.B,

Zero

Cpn,

6/03/23

...

464

119

4812373.SQ.FTS.B,

Zero

Cpn,

6/03/23

...

3,588

3,506

4812628.SQ.FTS.B,

Zero

Cpn,

6/03/23

...

7,404

5,866

4812786.SQ.FTS.B,

Zero

Cpn,

6/03/23

...

1,656

1,566

4813708.SQ.FTS.B,

Zero

Cpn,

6/03/23

...

6,939

6,746

4814186.SQ.FTS.B,

Zero

Cpn,

6/03/23

...

3,604

3,419

3411766.SQ.FTS.B,

Zero

Cpn,

6/04/23

...

5,695

417

4814646.SQ.FTS.B,

Zero

Cpn,

6/04/23

...

6,424

6,280

4815052.SQ.FTS.B,

Zero

Cpn,

6/04/23

...

88

87

3414237.SQ.FTS.B,

Zero

Cpn,

6/05/23

...

2,276

145

4815186.SQ.FTS.B,

Zero

Cpn,

6/05/23

...

5,894

5,259

4815361.SQ.FTS.B,

Zero

Cpn,

6/05/23

...

647

633

4817063.SQ.FTS.B,

Zero

Cpn,

6/06/23

...

19,714

9,942

4817613.SQ.FTS.B,

Zero

Cpn,

6/06/23

...

932

911

4817778.SQ.FTS.B,

Zero

Cpn,

6/06/23

...

9,796

9,532

4818303.SQ.FTS.B,

Zero

Cpn,

6/06/23

...

2,523

2,478

4818851.SQ.FTS.B,

Zero

Cpn,

6/06/23

...

3,404

2,907

4818903.SQ.FTS.B,

Zero

Cpn,

6/06/23

...

2,751

2,681

3415734.SQ.FTS.B,

Zero

Cpn,

6/07/23

...

4,366

380

4819187.SQ.FTS.B,

Zero

Cpn,

6/07/23

...

1,841

1,681

4819394.SQ.FTS.B,

Zero

Cpn,

6/07/23

...

4,345

3,957

4819488.SQ.FTS.B,

Zero

Cpn,

6/07/23

...

3,624

3,222

4819646.SQ.FTS.B,

Zero

Cpn,

6/07/23

...

891

863

4819764.SQ.FTS.B,

Zero

Cpn,

6/07/23

...

1,187

941

4819908.SQ.FTS.B,

Zero

Cpn,

6/07/23

...

2,281

1,680

4819938.SQ.FTS.B,

Zero

Cpn,

6/07/23

...

1,724

1,676

4819966.SQ.FTS.B,

Zero

Cpn,

6/07/23

...

20,091

18,625

4820428.SQ.FTS.B,

Zero

Cpn,

6/07/23

...

3,961

3,772

4821054.SQ.FTS.B,

Zero

Cpn,

6/07/23

...

1,386

965

4821196.SQ.FTS.B,

Zero

Cpn,

6/07/23

...

9,142

8,580

3419699.SQ.FTS.B,

Zero

Cpn,

6/08/23

...

10,480

790

4821667.SQ.FTS.B,

Zero

Cpn,

6/08/23

...

3,833

3,748

4822102.SQ.FTS.B,

Zero

Cpn,

6/08/23

...

736

721

4822143.SQ.FTS.B,

Zero

Cpn,

6/08/23

...

2,423

2,350

4822191.SQ.FTS.B,

Zero

Cpn,

6/08/23

...

1,889

1,214

4822232.SQ.FTS.B,

Zero

Cpn,

6/08/23

...

4,821

4,679

4822535.SQ.FTS.B,

Zero

Cpn,

6/08/23

...

1,445

1,411

4822924.SQ.FTS.B,

Zero

Cpn,

6/08/23

...

2,370

2,261

4823834.SQ.FTS.B,

Zero

Cpn,

6/08/23

...

23,938

22,256

4827183.SQ.FTS.B,

Zero

Cpn,

6/09/23

...

12,276

11,671

4828714.SQ.FTS.B,

Zero

Cpn,

6/09/23

...

3,143

3,061

4828994.SQ.FTS.B,

Zero

Cpn,

6/09/23

...

17,858

17,373

3425756.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

1,231

87

4829736.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

59

59

4829812.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

563

156

4829826.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

5,521

3,329

4830154.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

16,917

10,967

4830359.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

3,710

3,609

4830477.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

1,040

910

4830541.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

3,310

2,597

4830692.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

3,270

3,153

4831105.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

3,229

3,133

4831203.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

5,576

5,192

4831323.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

834

783

Description

Principal

Amount

Value

Block,

Inc.

(continued)

4831455.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

$

2,645

$

1,287

4832246.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

483

463

4832304.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

2,687

2,623

4832521.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

17,353

16,688

3428606.SQ.FTS.B,

Zero

Cpn,

6/11/23

...

2,409

223

4833235.SQ.FTS.B,

Zero

Cpn,

6/11/23

...

1,360

1,323

4833418.SQ.FTS.B,

Zero

Cpn,

6/11/23

...

2,749

2,683

4833612.SQ.FTS.B,

Zero

Cpn,

6/11/23

...

889

877

4834117.SQ.FTS.B,

Zero

Cpn,

6/12/23

...

7,748

7,564

4834515.SQ.FTS.B,

Zero

Cpn,

6/12/23

...

1,325

1,290

4834651.SQ.FTS.B,

Zero

Cpn,

6/12/23

...

2,472

2,424

4835576.SQ.FTS.B,

Zero

Cpn,

6/13/23

...

1,437

1,262

4836276.SQ.FTS.B,

Zero

Cpn,

6/13/23

...

1,503

1,352

4836413.SQ.FTS.B,

Zero

Cpn,

6/13/23

...

4,567

4,437

3432767.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

1,841

168

3433089.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

396

28

3434383.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

11,741

824

4837956.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

2,768

2,711

4838106.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

2,582

2,534

4838626.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

2,048

1,929

4838775.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

1,427

1,384

4839028.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

2,041

1,988

4839044.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

1,333

1,307

4839177.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

1,366

358

4839226.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

1,391

1,360

4839313.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

7,440

6,457

4839431.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

1,144

1,113

4839467.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

1,665

1,499

4839540.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

3,899

3,753

4839904.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

556

427

4840050.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

5,982

5,830

4840100.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

1,615

1,223

4840251.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

2,579

2,506

4840351.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

1,755

1,670

4840821.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

3,464

3,363

3435958.SQ.FTS.B,

Zero

Cpn,

6/15/23

...

2,155

152

3436460.SQ.FTS.B,

Zero

Cpn,

6/15/23

...

585

43

3436486.SQ.FTS.B,

Zero

Cpn,

6/15/23

...

376

27

3437194.SQ.FTS.B,

Zero

Cpn,

6/15/23

...

1,490

112

4841864.SQ.FTS.B,

Zero

Cpn,

6/15/23

...

2,488

2,424

4842040.SQ.FTS.B,

Zero

Cpn,

6/15/23

...

2,697

2,624

4842977.SQ.FTS.B,

Zero

Cpn,

6/15/23

...

1,015

966

4843005.SQ.FTS.B,

Zero

Cpn,

6/15/23

...

277

271

4843205.SQ.FTS.B,

Zero

Cpn,

6/15/23

...

4,878

4,692

4843326.SQ.FTS.B,

Zero

Cpn,

6/15/23

...

1,231

1,081

3437850.SQ.FTS.B,

Zero

Cpn,

6/16/23

...

4,084

286

4848064.SQ.FTS.B,

Zero

Cpn,

6/16/23

...

377

368

4848143.SQ.FTS.B,

Zero

Cpn,

6/16/23

...

831

815

4848330.SQ.FTS.B,

Zero

Cpn,

6/16/23

...

51,897

38,148

4850518.SQ.FTS.B,

Zero

Cpn,

6/16/23

...

3,270

3,193

4850729.SQ.FTS.B,

Zero

Cpn,

6/16/23

...

3,664

3,451

4850840.SQ.FTS.B,

Zero

Cpn,

6/16/23

...

782

768

4856114.SQ.FTS.B,

Zero

Cpn,

6/16/23

...

453

440

4856932.SQ.FTS.B,

Zero

Cpn,

6/16/23

...

1,620

1,582

4857290.SQ.FTS.B,

Zero

Cpn,

6/16/23

...

421

408

4857346.SQ.FTS.B,

Zero

Cpn,

6/16/23

...

4,698

4,363

4857511.SQ.FTS.B,

Zero

Cpn,

6/16/23

...

2,449

2,393

4857724.SQ.FTS.B,

Zero

Cpn,

6/17/23

...

667

445

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

52

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

4857804.SQ.FTS.B,

Zero

Cpn,

6/17/23

...

$

2,973

$

2,887

4857977.SQ.FTS.B,

Zero

Cpn,

6/17/23

...

4,362

3,945

4858414.SQ.FTS.B,

Zero

Cpn,

6/17/23

...

836

793

4858569.SQ.FTS.B,

Zero

Cpn,

6/17/23

...

3,649

3,549

4859476.SQ.FTS.B,

Zero

Cpn,

6/17/23

...

7,661

7,459

4860325.SQ.FTS.B,

Zero

Cpn,

6/17/23

...

1,087

1,057

4860368.SQ.FTS.B,

Zero

Cpn,

6/17/23

...

989

959

4860532.SQ.FTS.B,

Zero

Cpn,

6/17/23

...

6,800

6,673

4861254.SQ.FTS.B,

Zero

Cpn,

6/17/23

...

2,746

2,387

4861386.SQ.FTS.B,

Zero

Cpn,

6/17/23

...

6,771

6,571

4861548.SQ.FTS.B,

Zero

Cpn,

6/17/23

...

3,573

3,486

4861887.SQ.FTS.B,

Zero

Cpn,

6/18/23

...

2,711

2,660

4861946.SQ.FTS.B,

Zero

Cpn,

6/18/23

...

44,203

42,207

4862382.SQ.FTS.B,

Zero

Cpn,

6/18/23

...

5,340

2,531

4862442.SQ.FTS.B,

Zero

Cpn,

6/18/23

...

355

330

4862453.SQ.FTS.B,

Zero

Cpn,

6/18/23

...

7,220

3,816

4862500.SQ.FTS.B,

Zero

Cpn,

6/18/23

...

3,121

2,289

4862522.SQ.FTS.B,

Zero

Cpn,

6/18/23

...

417

401

4862657.SQ.FTS.B,

Zero

Cpn,

6/18/23

...

6,266

5,946

4862693.SQ.FTS.B,

Zero

Cpn,

6/19/23

...

1,167

1,108

4862751.SQ.FTS.B,

Zero

Cpn,

6/19/23

...

979

952

4862774.SQ.FTS.B,

Zero

Cpn,

6/19/23

...

386

378

4862804.SQ.FTS.B,

Zero

Cpn,

6/19/23

...

6,434

5,838

4862864.SQ.FTS.B,

Zero

Cpn,

6/19/23

...

1,324

1,278

4862865.SQ.FTS.B,

Zero

Cpn,

6/19/23

...

8,463

8,023

4863119.SQ.FTS.B,

Zero

Cpn,

6/19/23

...

78

76

4863124.SQ.FTS.B,

Zero

Cpn,

6/19/23

...

1,848

1,757

4863147.SQ.FTS.B,

Zero

Cpn,

6/19/23

...

314

293

4863153.SQ.FTS.B,

Zero

Cpn,

6/19/23

...

781

763

4863390.SQ.FTS.B,

Zero

Cpn,

6/19/23

...

13,729

13,325

4863407.SQ.FTS.B,

Zero

Cpn,

6/19/23

...

879

857

4863679.SQ.FTS.B,

Zero

Cpn,

6/20/23

...

16,205

8,139

4864028.SQ.FTS.B,

Zero

Cpn,

6/20/23

...

4,831

4,704

4864457.SQ.FTS.B,

Zero

Cpn,

6/20/23

...

4,999

4,850

4864955.SQ.FTS.B,

Zero

Cpn,

6/20/23

...

7,356

7,013

4865091.SQ.FTS.B,

Zero

Cpn,

6/20/23

...

83

80

4865190.SQ.FTS.B,

Zero

Cpn,

6/20/23

...

1,847

1,793

4865263.SQ.FTS.B,

Zero

Cpn,

6/20/23

...

5,245

5,086

4865376.SQ.FTS.B,

Zero

Cpn,

6/20/23

...

1,621

460

4865386.SQ.FTS.B,

Zero

Cpn,

6/20/23

...

947

923

4865542.SQ.FTS.B,

Zero

Cpn,

6/20/23

...

5,694

5,304

4865628.SQ.FTS.B,

Zero

Cpn,

6/20/23

...

2,363

2,314

4865638.SQ.FTS.B,

Zero

Cpn,

6/20/23

...

6,179

6,058

4866334.SQ.FTS.B,

Zero

Cpn,

6/20/23

...

1,110

1,081

4866541.SQ.FTS.B,

Zero

Cpn,

6/20/23

...

7,858

4,107

4866578.SQ.FTS.B,

Zero

Cpn,

6/20/23

...

1,319

1,287

4866630.SQ.FTS.B,

Zero

Cpn,

6/20/23

...

2,245

2,181

4866679.SQ.FTS.B,

Zero

Cpn,

6/20/23

...

1,818

1,037

4866699.SQ.FTS.B,

Zero

Cpn,

6/20/23

...

4,613

4,498

4866829.SQ.FTS.B,

Zero

Cpn,

6/20/23

...

868

848

4867003.SQ.FTS.B,

Zero

Cpn,

6/20/23

...

15,714

12,491

4867050.SQ.FTS.B,

Zero

Cpn,

6/20/23

...

1,476

1,433

4867088.SQ.FTS.B,

Zero

Cpn,

6/20/23

...

463

456

4867138.SQ.FTS.B,

Zero

Cpn,

6/20/23

...

32,553

26,529

4867232.SQ.FTS.B,

Zero

Cpn,

6/20/23

...

1,500

1,438

3452149.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

969

70

4867369.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

2,166

1,490

4867400.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

3,572

3,473

Description

Principal

Amount

Value

Block,

Inc.

(continued)

4867547.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

$

3,134

$

2,767

4867578.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

2,650

2,387

4867627.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

10,538

4,325

4867691.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

168

163

4867700.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

3,595

1,450

4867797.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

259

246

4867847.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

2,412

2,210

4868123.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

561

305

4868230.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

3,815

3,728

4868442.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

73

72

4868460.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

3,216

3,086

4868571.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

3,663

3,169

4868756.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

4,849

4,747

4868930.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

1,867

1,572

4869065.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

841

603

4869093.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

14,104

13,053

4869401.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

2,054

799

4869425.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

620

607

4869543.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

2,298

2,237

4869641.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

3,212

3,149

4869863.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

355

343

4871724.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

613

599

4871768.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

3,771

2,680

4871906.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

2,313

2,242

4871942.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

2,551

2,480

4871945.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

5,985

1,776

4871985.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

8,066

7,058

4871988.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

7,951

7,748

4872036.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

1,219

1,065

4872046.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

4,838

3,972

4872092.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

10,924

10,632

4872154.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

371

331

4872327.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

8,857

8,443

4872471.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

1,391

423

4872476.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

968

952

4872677.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

4,765

3,312

4872684.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

1,919

1,862

4872812.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

1,747

1,708

4872933.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

1,542

1,504

4872945.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

1,910

1,803

4872979.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

4,356

3,965

4873083.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

9,479

3,843

4873112.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

2,050

1,996

4873171.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

174

170

4873181.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

1,264

932

4873267.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

8,574

8,377

4873268.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

6,701

5,507

4873395.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

3,018

2,344

4873665.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

1,818

1,788

4873774.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

3,157

2,938

4873845.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

791

773

4873945.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

3,094

1,799

4874117.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

8,697

5,328

3463095.SQ.FTS.B,

Zero

Cpn,

6/23/23

...

11,405

830

4874185.SQ.FTS.B,

Zero

Cpn,

6/23/23

...

1,684

1,476

4874246.SQ.FTS.B,

Zero

Cpn,

6/23/23

...

1,662

1,352

4874275.SQ.FTS.B,

Zero

Cpn,

6/23/23

...

1,230

1,208

4874404.SQ.FTS.B,

Zero

Cpn,

6/23/23

...

8,367

7,581

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

53

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

4874764.SQ.FTS.B,

Zero

Cpn,

6/23/23

...

$

9,719

$

8,120

4875505.SQ.FTS.B,

Zero

Cpn,

6/23/23

...

1,396

595

4875937.SQ.FTS.B,

Zero

Cpn,

6/23/23

...

133

130

4876039.SQ.FTS.B,

Zero

Cpn,

6/23/23

...

3,560

2,339

4876154.SQ.FTS.B,

Zero

Cpn,

6/23/23

...

3,302

2,624

4876228.SQ.FTS.B,

Zero

Cpn,

6/23/23

...

2,253

2,164

4876277.SQ.FTS.B,

Zero

Cpn,

6/23/23

...

1,449

1,414

4876330.SQ.FTS.B,

Zero

Cpn,

6/23/23

...

4,781

4,657

4876480.SQ.FTS.B,

Zero

Cpn,

6/24/23

...

10,273

9,758

4876494.SQ.FTS.B,

Zero

Cpn,

6/24/23

...

150

146

4876504.SQ.FTS.B,

Zero

Cpn,

6/24/23

...

3,968

3,891

4876575.SQ.FTS.B,

Zero

Cpn,

6/24/23

...

727

697

4876610.SQ.FTS.B,

Zero

Cpn,

6/24/23

...

12,386

10,650

4876692.SQ.FTS.B,

Zero

Cpn,

6/24/23

...

5,889

5,725

4876767.SQ.FTS.B,

Zero

Cpn,

6/24/23

...

12,492

12,135

4876901.SQ.FTS.B,

Zero

Cpn,

6/24/23

...

154

140

4877089.SQ.FTS.B,

Zero

Cpn,

6/24/23

...

11,485

10,964

4877128.SQ.FTS.B,

Zero

Cpn,

6/24/23

...

8,137

7,574

4877302.SQ.FTS.B,

Zero

Cpn,

6/25/23

...

671

569

4877319.SQ.FTS.B,

Zero

Cpn,

6/25/23

...

1,409

1,014

4877352.SQ.FTS.B,

Zero

Cpn,

6/25/23

...

1,638

1,591

4877412.SQ.FTS.B,

Zero

Cpn,

6/25/23

...

4,096

3,825

4877437.SQ.FTS.B,

Zero

Cpn,

6/25/23

...

2,059

1,700

4877462.SQ.FTS.B,

Zero

Cpn,

6/25/23

...

2,105

2,055

4877478.SQ.FTS.B,

Zero

Cpn,

6/25/23

...

212

161

4877524.SQ.FTS.B,

Zero

Cpn,

6/25/23

...

10,565

10,306

3472489.SQ.FTS.B,

Zero

Cpn,

6/26/23

...

2,604

172

4877634.SQ.FTS.B,

Zero

Cpn,

6/26/23

...

3,548

3,453

4877635.SQ.FTS.B,

Zero

Cpn,

6/26/23

...

4,114

3,982

4877682.SQ.FTS.B,

Zero

Cpn,

6/26/23

...

527

491

4877793.SQ.FTS.B,

Zero

Cpn,

6/26/23

...

1,929

1,742

4877812.SQ.FTS.B,

Zero

Cpn,

6/26/23

...

2,982

955

4877825.SQ.FTS.B,

Zero

Cpn,

6/26/23

...

2,632

2,439

4877846.SQ.FTS.B,

Zero

Cpn,

6/26/23

...

448

429

4877852.SQ.FTS.B,

Zero

Cpn,

6/26/23

...

6,538

6,354

4877905.SQ.FTS.B,

Zero

Cpn,

6/26/23

...

366

359

4877907.SQ.FTS.B,

Zero

Cpn,

6/26/23

...

1,897

1,683

4877938.SQ.FTS.B,

Zero

Cpn,

6/26/23

...

2,720

2,637

4877950.SQ.FTS.B,

Zero

Cpn,

6/26/23

...

1,919

1,872

4877997.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

1,754

1,713

4878083.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

3,283

2,993

4878162.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

711

684

4878164.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

3,299

2,717

4878169.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

850

834

4878243.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

4,711

4,103

4878324.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

5,502

5,119

4878443.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

1,304

1,268

4878534.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

2,570

2,512

4878833.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

381

373

4878989.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

1,511

1,478

4879046.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

460

288

4879141.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

11,259

5,868

4879232.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

13,612

11,370

4879426.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

45,916

34,546

4879470.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

12,793

11,918

4879704.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

7,649

6,961

4879810.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

613

601

4879818.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

6,072

5,904

Description

Principal

Amount

Value

Block,

Inc.

(continued)

4879836.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

$

802

$

780

4879860.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

1,114

934

4879951.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

12,785

12,416

4880001.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

852

834

4880018.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

2,257

2,204

4880047.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

132

126

4880077.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

7,014

6,413

4880109.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

18,745

11,007

4880175.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

4,348

3,916

4880187.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

470

461

4880223.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

1,334

1,304

4880268.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

13,829

12,847

4880571.SQ.FTS.B,

Zero

Cpn,

6/28/23

...

14,651

12,256

4881221.SQ.FTS.B,

Zero

Cpn,

6/28/23

...

1,408

1,378

4881339.SQ.FTS.B,

Zero

Cpn,

6/28/23

...

19,624

19,066

4881598.SQ.FTS.B,

Zero

Cpn,

6/28/23

...

1,360

1,326

4881599.SQ.FTS.B,

Zero

Cpn,

6/28/23

...

4,686

1,376

4881616.SQ.FTS.B,

Zero

Cpn,

6/28/23

...

1,459

1,371

4881617.SQ.FTS.B,

Zero

Cpn,

6/28/23

...

1,646

723

4881622.SQ.FTS.B,

Zero

Cpn,

6/28/23

...

12,808

12,096

4881684.SQ.FTS.B,

Zero

Cpn,

6/28/23

...

1,887

1,823

4881768.SQ.FTS.B,

Zero

Cpn,

6/28/23

...

8,408

8,012

4881937.SQ.FTS.B,

Zero

Cpn,

6/28/23

...

747

726

4881963.SQ.FTS.B,

Zero

Cpn,

6/28/23

...

2,884

1,856

4881988.SQ.FTS.B,

Zero

Cpn,

6/28/23

...

50,750

35,719

4882243.SQ.FTS.B,

Zero

Cpn,

6/28/23

...

786

455

4882388.SQ.FTS.B,

Zero

Cpn,

6/28/23

...

4,122

3,311

4882604.SQ.FTS.B,

Zero

Cpn,

6/28/23

...

4,323

1,872

4882636.SQ.FTS.B,

Zero

Cpn,

6/28/23

...

521

511

4884614.SQ.FTS.B,

Zero

Cpn,

6/29/23

...

621

609

4884730.SQ.FTS.B,

Zero

Cpn,

6/29/23

...

5,781

3,218

4884766.SQ.FTS.B,

Zero

Cpn,

6/29/23

...

6,579

6,401

4884983.SQ.FTS.B,

Zero

Cpn,

6/29/23

...

1,456

1,420

4885048.SQ.FTS.B,

Zero

Cpn,

6/29/23

...

7,222

6,981

4885655.SQ.FTS.B,

Zero

Cpn,

6/29/23

...

1,376

1,200

4886259.SQ.FTS.B,

Zero

Cpn,

6/29/23

...

1,219

1,112

4886310.SQ.FTS.B,

Zero

Cpn,

6/29/23

...

6,686

6,513

3487584.SQ.FTS.B,

Zero

Cpn,

6/30/23

...

2,184

169

4886579.SQ.FTS.B,

Zero

Cpn,

6/30/23

...

4,401

4,201

4886936.SQ.FTS.B,

Zero

Cpn,

6/30/23

...

29,824

16,656

4887776.SQ.FTS.B,

Zero

Cpn,

6/30/23

...

15,271

9,747

4888119.SQ.FTS.B,

Zero

Cpn,

6/30/23

...

28,814

27,616

4888984.SQ.FTS.B,

Zero

Cpn,

6/30/23

...

11,958

11,416

4889225.SQ.FTS.B,

Zero

Cpn,

6/30/23

...

3,709

3,631

4889578.SQ.FTS.B,

Zero

Cpn,

7/01/23

...

6,544

5,419

4889927.SQ.FTS.B,

Zero

Cpn,

7/02/23

...

777

759

4889959.SQ.FTS.B,

Zero

Cpn,

7/02/23

...

5,989

2,049

4890140.SQ.FTS.B,

Zero

Cpn,

7/02/23

...

1,016

923

4890651.SQ.FTS.B,

Zero

Cpn,

7/03/23

...

2,427

2,358

4890877.SQ.FTS.B,

Zero

Cpn,

7/03/23

...

23,307

19,452

4891549.SQ.FTS.B,

Zero

Cpn,

7/03/23

...

3,445

1,621

4891653.SQ.FTS.B,

Zero

Cpn,

7/03/23

...

1,003

913

3498849.SQ.FTS.B,

Zero

Cpn,

7/04/23

...

351

46

4892414.SQ.FTS.B,

Zero

Cpn,

7/04/23

...

1,737

1,703

4892791.SQ.FTS.B,

Zero

Cpn,

7/04/23

...

1,597

1,548

4893163.SQ.FTS.B,

Zero

Cpn,

7/04/23

...

12,426

5,580

4893412.SQ.FTS.B,

Zero

Cpn,

7/04/23

...

5,159

3,941

4893530.SQ.FTS.B,

Zero

Cpn,

7/04/23

...

698

597

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

54

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

4893551.SQ.FTS.B,

Zero

Cpn,

7/04/23

...

$

598

$

347

4894092.SQ.FTS.B,

Zero

Cpn,

7/04/23

...

1,581

1,544

4894121.SQ.FTS.B,

Zero

Cpn,

7/04/23

...

2,379

2,158

4894157.SQ.FTS.B,

Zero

Cpn,

7/04/23

...

3,440

3,211

4894205.SQ.FTS.B,

Zero

Cpn,

7/04/23

...

2,361

2,297

4894283.SQ.FTS.B,

Zero

Cpn,

7/04/23

...

1,564

1,529

4894401.SQ.FTS.B,

Zero

Cpn,

7/04/23

...

3,463

3,366

4894516.SQ.FTS.B,

Zero

Cpn,

7/04/23

...

18,351

17,851

4895046.SQ.FTS.B,

Zero

Cpn,

7/05/23

...

1,266

1,235

4895067.SQ.FTS.B,

Zero

Cpn,

7/05/23

...

32,479

19,951

4895683.SQ.FTS.B,

Zero

Cpn,

7/05/23

...

6,766

6,451

4895828.SQ.FTS.B,

Zero

Cpn,

7/05/23

...

274

247

4895843.SQ.FTS.B,

Zero

Cpn,

7/05/23

...

457

448

4895898.SQ.FTS.B,

Zero

Cpn,

7/05/23

...

80

77

4895918.SQ.FTS.B,

Zero

Cpn,

7/05/23

...

267

262

4895923.SQ.FTS.B,

Zero

Cpn,

7/05/23

...

673

661

4896153.SQ.FTS.B,

Zero

Cpn,

7/05/23

...

1,664

1,527

4896203.SQ.FTS.B,

Zero

Cpn,

7/05/23

...

48,142

44,941

4897041.SQ.FTS.B,

Zero

Cpn,

7/05/23

...

59

58

3510070.SQ.FTS.B,

Zero

Cpn,

7/06/23

...

25,800

2,772

4898402.SQ.FTS.B,

Zero

Cpn,

7/06/23

...

3,934

3,683

4898500.SQ.FTS.B,

Zero

Cpn,

7/06/23

...

3,575

3,273

4898560.SQ.FTS.B,

Zero

Cpn,

7/06/23

...

2,046

1,998

4898702.SQ.FTS.B,

Zero

Cpn,

7/06/23

...

4,932

3,449

4898777.SQ.FTS.B,

Zero

Cpn,

7/06/23

...

3,397

3,302

4899040.SQ.FTS.B,

Zero

Cpn,

7/06/23

...

12,679

12,367

4899657.SQ.FTS.B,

Zero

Cpn,

7/06/23

...

36,639

33,957

3513483.SQ.FTS.B,

Zero

Cpn,

7/07/23

...

4,792

456

4900782.SQ.FTS.B,

Zero

Cpn,

7/07/23

...

4,052

3,918

4900959.SQ.FTS.B,

Zero

Cpn,

7/07/23

...

38

38

4900969.SQ.FTS.B,

Zero

Cpn,

7/07/23

...

5,294

3,162

4901122.SQ.FTS.B,

Zero

Cpn,

7/07/23

...

852

510

4901151.SQ.FTS.B,

Zero

Cpn,

7/07/23

...

6,069

5,934

4901609.SQ.FTS.B,

Zero

Cpn,

7/07/23

...

7,832

6,514

4902009.SQ.FTS.B,

Zero

Cpn,

7/07/23

...

32,209

19,853

4902587.SQ.FTS.B,

Zero

Cpn,

7/07/23

...

6,905

3,101

4902840.SQ.FTS.B,

Zero

Cpn,

7/07/23

...

6,112

5,365

3516078.SQ.FTS.B,

Zero

Cpn,

7/08/23

...

8,033

963

3521469.SQ.FTS.B,

Zero

Cpn,

7/08/23

...

3,422

479

4902877.SQ.FTS.B,

Zero

Cpn,

7/08/23

...

977

952

4902991.SQ.FTS.B,

Zero

Cpn,

7/08/23

...

3,072

2,977

4903358.SQ.FTS.B,

Zero

Cpn,

7/09/23

...

1,190

1,150

4903382.SQ.FTS.B,

Zero

Cpn,

7/09/23

...

1,584

1,554

4903544.SQ.FTS.B,

Zero

Cpn,

7/09/23

...

3,449

3,357

4903995.SQ.FTS.B,

Zero

Cpn,

7/10/23

...

346

313

4904451.SQ.FTS.B,

Zero

Cpn,

7/10/23

...

5,180

3,928

4904692.SQ.FTS.B,

Zero

Cpn,

7/10/23

...

8,311

8,132

4905226.SQ.FTS.B,

Zero

Cpn,

7/10/23

...

1,078

295

4905498.SQ.FTS.B,

Zero

Cpn,

7/10/23

...

152

150

4905832.SQ.FTS.B,

Zero

Cpn,

7/10/23

...

9,679

5,404

4906204.SQ.FTS.B,

Zero

Cpn,

7/11/23

...

3,699

3,578

4906363.SQ.FTS.B,

Zero

Cpn,

7/11/23

...

2,546

2,479

4906466.SQ.FTS.B,

Zero

Cpn,

7/11/23

...

13,463

13,076

4907134.SQ.FTS.B,

Zero

Cpn,

7/11/23

...

2,506

2,342

4907187.SQ.FTS.B,

Zero

Cpn,

7/11/23

...

858

838

4907201.SQ.FTS.B,

Zero

Cpn,

7/11/23

...

4,712

4,597

4907500.SQ.FTS.B,

Zero

Cpn,

7/11/23

...

4,190

3,112

4907878.SQ.FTS.B,

Zero

Cpn,

7/11/23

...

5,045

4,895

Description

Principal

Amount

Value

Block,

Inc.

(continued)

4908001.SQ.FTS.B,

Zero

Cpn,

7/11/23

...

$

724

$

707

4908035.SQ.FTS.B,

Zero

Cpn,

7/11/23

...

5,837

2,585

4908081.SQ.FTS.B,

Zero

Cpn,

7/11/23

...

16,575

15,254

3530707.SQ.FTS.B,

Zero

Cpn,

7/12/23

...

650

85

4908516.SQ.FTS.B,

Zero

Cpn,

7/12/23

...

1,436

1,403

4908604.SQ.FTS.B,

Zero

Cpn,

7/12/23

...

4,476

2,935

4908672.SQ.FTS.B,

Zero

Cpn,

7/12/23

...

11,386

9,836

4908999.SQ.FTS.B,

Zero

Cpn,

7/12/23

...

404

233

4909015.SQ.FTS.B,

Zero

Cpn,

7/12/23

...

2,843

2,783

4909355.SQ.FTS.B,

Zero

Cpn,

7/12/23

...

1,131

1,101

4909446.SQ.FTS.B,

Zero

Cpn,

7/12/23

...

700

589

4909470.SQ.FTS.B,

Zero

Cpn,

7/12/23

...

1,909

1,851

4909573.SQ.FTS.B,

Zero

Cpn,

7/12/23

...

225

221

4909737.SQ.FTS.B,

Zero

Cpn,

7/12/23

...

1,107

1,085

4909783.SQ.FTS.B,

Zero

Cpn,

7/12/23

...

712

518

4909817.SQ.FTS.B,

Zero

Cpn,

7/12/23

...

1,873

1,818

4909889.SQ.FTS.B,

Zero

Cpn,

7/12/23

...

1,786

1,744

4910057.SQ.FTS.B,

Zero

Cpn,

7/12/23

...

471

460

4910098.SQ.FTS.B,

Zero

Cpn,

7/12/23

...

4,835

4,736

4910369.SQ.FTS.B,

Zero

Cpn,

7/12/23

...

376

370

4910487.SQ.FTS.B,

Zero

Cpn,

7/12/23

...

2,646

2,531

4910604.SQ.FTS.B,

Zero

Cpn,

7/12/23

...

1,580

1,513

4912993.SQ.FTS.B,

Zero

Cpn,

7/13/23

...

3,685

3,566

4913072.SQ.FTS.B,

Zero

Cpn,

7/13/23

...

2,980

2,912

4913208.SQ.FTS.B,

Zero

Cpn,

7/13/23

...

232

228

4913225.SQ.FTS.B,

Zero

Cpn,

7/13/23

...

234

216

4913284.SQ.FTS.B,

Zero

Cpn,

7/13/23

...

4,109

3,183

4913348.SQ.FTS.B,

Zero

Cpn,

7/13/23

...

220

217

4913435.SQ.FTS.B,

Zero

Cpn,

7/13/23

...

1,003

984

4913563.SQ.FTS.B,

Zero

Cpn,

7/13/23

...

1,280

1,252

4913645.SQ.FTS.B,

Zero

Cpn,

7/13/23

...

1,618

1,579

4913841.SQ.FTS.B,

Zero

Cpn,

7/13/23

...

2,230

2,171

4913943.SQ.FTS.B,

Zero

Cpn,

7/13/23

...

998

972

4914076.SQ.FTS.B,

Zero

Cpn,

7/13/23

...

623

585

4914296.SQ.FTS.B,

Zero

Cpn,

7/13/23

...

226

215

4914310.SQ.FTS.B,

Zero

Cpn,

7/13/23

...

24,490

23,763

4915126.SQ.FTS.B,

Zero

Cpn,

7/13/23

...

14,572

13,993

4915411.SQ.FTS.B,

Zero

Cpn,

7/14/23

...

3,479

3,372

4915457.SQ.FTS.B,

Zero

Cpn,

7/14/23

...

2,129

2,076

4915588.SQ.FTS.B,

Zero

Cpn,

7/14/23

...

5,434

5,296

4915775.SQ.FTS.B,

Zero

Cpn,

7/14/23

...

196

183

4915793.SQ.FTS.B,

Zero

Cpn,

7/14/23

...

6,745

6,562

4916216.SQ.FTS.B,

Zero

Cpn,

7/14/23

...

2,740

2,642

4916410.SQ.FTS.B,

Zero

Cpn,

7/14/23

...

2,546

2,461

4916623.SQ.FTS.B,

Zero

Cpn,

7/14/23

...

572

376

4916684.SQ.FTS.B,

Zero

Cpn,

7/14/23

...

2,098

2,033

4922859.SQ.FTS.B,

Zero

Cpn,

7/14/23

...

3,104

2,748

4922957.SQ.FTS.B,

Zero

Cpn,

7/14/23

...

16,447

12,871

4922992.SQ.FTS.B,

Zero

Cpn,

7/15/23

...

5,330

5,203

4923102.SQ.FTS.B,

Zero

Cpn,

7/15/23

...

235

231

4923112.SQ.FTS.B,

Zero

Cpn,

7/15/23

...

574

563

4923126.SQ.FTS.B,

Zero

Cpn,

7/15/23

...

9,909

9,616

4923319.SQ.FTS.B,

Zero

Cpn,

7/15/23

...

3,035

2,961

4923507.SQ.FTS.B,

Zero

Cpn,

7/15/23

...

814

794

4923614.SQ.FTS.B,

Zero

Cpn,

7/16/23

...

2,464

2,401

4923692.SQ.FTS.B,

Zero

Cpn,

7/16/23

...

1,371

1,216

4923714.SQ.FTS.B,

Zero

Cpn,

7/16/23

...

11,256

9,328

4923842.SQ.FTS.B,

Zero

Cpn,

7/16/23

...

1,929

1,436

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

55

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

4923920.SQ.FTS.B,

Zero

Cpn,

7/16/23

...

$

1,010

$

919

4923951.SQ.FTS.B,

Zero

Cpn,

7/16/23

...

2,894

2,815

4924069.SQ.FTS.B,

Zero

Cpn,

7/17/23

...

1,079

1,059

4924131.SQ.FTS.B,

Zero

Cpn,

7/17/23

...

2,126

2,067

4924187.SQ.FTS.B,

Zero

Cpn,

7/17/23

...

421

343

4924194.SQ.FTS.B,

Zero

Cpn,

7/17/23

...

2,274

2,199

4924282.SQ.FTS.B,

Zero

Cpn,

7/17/23

...

574

564

4924606.SQ.FTS.B,

Zero

Cpn,

7/17/23

...

2,063

1,970

4925184.SQ.FTS.B,

Zero

Cpn,

7/18/23

...

4,030

3,769

4925342.SQ.FTS.B,

Zero

Cpn,

7/18/23

...

220

216

4925364.SQ.FTS.B,

Zero

Cpn,

7/18/23

...

599

583

4925548.SQ.FTS.B,

Zero

Cpn,

7/18/23

...

28,587

20,392

4925972.SQ.FTS.B,

Zero

Cpn,

7/18/23

...

8,282

8,077

4926169.SQ.FTS.B,

Zero

Cpn,

7/18/23

...

261

249

4926176.SQ.FTS.B,

Zero

Cpn,

7/18/23

...

2,004

1,956

4926352.SQ.FTS.B,

Zero

Cpn,

7/18/23

...

2,582

2,323

4926390.SQ.FTS.B,

Zero

Cpn,

7/18/23

...

873

857

4926486.SQ.FTS.B,

Zero

Cpn,

7/18/23

...

11,629

11,313

3559884.SQ.FTS.B,

Zero

Cpn,

7/19/23

...

616

68

4926818.SQ.FTS.B,

Zero

Cpn,

7/19/23

...

844

762

4927032.SQ.FTS.B,

Zero

Cpn,

7/19/23

...

2,318

2,259

4927104.SQ.FTS.B,

Zero

Cpn,

7/19/23

...

7,625

6,873

4927771.SQ.FTS.B,

Zero

Cpn,

7/19/23

...

1,276

1,245

4927908.SQ.FTS.B,

Zero

Cpn,

7/19/23

...

12,866

11,480

4928597.SQ.FTS.B,

Zero

Cpn,

7/19/23

...

833

686

4928883.SQ.FTS.B,

Zero

Cpn,

7/19/23

...

654

643

4928991.SQ.FTS.B,

Zero

Cpn,

7/19/23

...

9,420

5,119

3566831.SQ.FTS.B,

Zero

Cpn,

7/20/23

...

2,799

324

4930418.SQ.FTS.B,

Zero

Cpn,

7/20/23

...

82

81

4930432.SQ.FTS.B,

Zero

Cpn,

7/20/23

...

4,053

3,782

4930689.SQ.FTS.B,

Zero

Cpn,

7/20/23

...

7,401

7,226

4931457.SQ.FTS.B,

Zero

Cpn,

7/20/23

...

2,427

2,347

4931610.SQ.FTS.B,

Zero

Cpn,

7/20/23

...

5,015

4,846

4931789.SQ.FTS.B,

Zero

Cpn,

7/20/23

...

316

304

4931804.SQ.FTS.B,

Zero

Cpn,

7/20/23

...

2,744

2,663

4931937.SQ.FTS.B,

Zero

Cpn,

7/20/23

...

1,221

1,185

4932182.SQ.FTS.B,

Zero

Cpn,

7/20/23

...

1,091

1,065

4932438.SQ.FTS.B,

Zero

Cpn,

7/20/23

...

1,023

985

4932557.SQ.FTS.B,

Zero

Cpn,

7/20/23

...

1,560

1,449

4932599.SQ.FTS.B,

Zero

Cpn,

7/20/23

...

7,189

6,998

3572652.SQ.FTS.B,

Zero

Cpn,

7/21/23

...

758

141

3573904.SQ.FTS.B,

Zero

Cpn,

7/21/23

...

2,469

286

4932751.SQ.FTS.B,

Zero

Cpn,

7/21/23

...

8,787

8,566

4933051.SQ.FTS.B,

Zero

Cpn,

7/21/23

...

3,049

2,984

4933508.SQ.FTS.B,

Zero

Cpn,

7/21/23

...

2,321

2,276

4933704.SQ.FTS.B,

Zero

Cpn,

7/21/23

...

3,086

2,954

4933832.SQ.FTS.B,

Zero

Cpn,

7/21/23

...

1,798

1,761

4933949.SQ.FTS.B,

Zero

Cpn,

7/21/23

...

238

223

4934539.SQ.FTS.B,

Zero

Cpn,

7/21/23

...

487

465

4934830.SQ.FTS.B,

Zero

Cpn,

7/21/23

...

868

852

4934870.SQ.FTS.B,

Zero

Cpn,

7/21/23

...

8,504

7,585

4935098.SQ.FTS.B,

Zero

Cpn,

7/22/23

...

821

802

4935124.SQ.FTS.B,

Zero

Cpn,

7/22/23

...

501

448

4935141.SQ.FTS.B,

Zero

Cpn,

7/22/23

...

2,610

1,790

4935183.SQ.FTS.B,

Zero

Cpn,

7/22/23

...

423

403

4935195.SQ.FTS.B,

Zero

Cpn,

7/22/23

...

1,661

1,624

4935394.SQ.FTS.B,

Zero

Cpn,

7/22/23

...

3,894

3,783

4935495.SQ.FTS.B,

Zero

Cpn,

7/22/23

...

10,881

10,331

Description

Principal

Amount

Value

Block,

Inc.

(continued)

4935729.SQ.FTS.B,

Zero

Cpn,

7/23/23

...

$

4,013

$

3,661

4935812.SQ.FTS.B,

Zero

Cpn,

7/23/23

...

239

232

4935860.SQ.FTS.B,

Zero

Cpn,

7/23/23

...

1,916

1,864

4935969.SQ.FTS.B,

Zero

Cpn,

7/23/23

...

1,015

971

4935993.SQ.FTS.B,

Zero

Cpn,

7/23/23

...

25,588

25,007

4937154.SQ.FTS.B,

Zero

Cpn,

7/24/23

...

5,993

5,703

4937358.SQ.FTS.B,

Zero

Cpn,

7/24/23

...

690

393

4937404.SQ.FTS.B,

Zero

Cpn,

7/24/23

...

1,024

1,002

4937690.SQ.FTS.B,

Zero

Cpn,

7/24/23

...

2,183

2,146

4938018.SQ.FTS.B,

Zero

Cpn,

7/24/23

...

403

323

4938041.SQ.FTS.B,

Zero

Cpn,

7/24/23

...

12,510

10,567

4938636.SQ.FTS.B,

Zero

Cpn,

7/24/23

...

2,306

2,234

4938801.SQ.FTS.B,

Zero

Cpn,

7/24/23

...

170

162

4938819.SQ.FTS.B,

Zero

Cpn,

7/24/23

...

4,175

4,062

4938983.SQ.FTS.B,

Zero

Cpn,

7/25/23

...

1,318

319

4939403.SQ.FTS.B,

Zero

Cpn,

7/25/23

...

629

617

4939461.SQ.FTS.B,

Zero

Cpn,

7/25/23

...

1,322

1,296

4939523.SQ.FTS.B,

Zero

Cpn,

7/25/23

...

6,648

6,468

4939699.SQ.FTS.B,

Zero

Cpn,

7/25/23

...

448

439

4939827.SQ.FTS.B,

Zero

Cpn,

7/25/23

...

510

497

4940010.SQ.FTS.B,

Zero

Cpn,

7/25/23

...

4,020

3,890

4940172.SQ.FTS.B,

Zero

Cpn,

7/25/23

...

2,589

2,481

4940243.SQ.FTS.B,

Zero

Cpn,

7/25/23

...

4,498

4,356

4940408.SQ.FTS.B,

Zero

Cpn,

7/25/23

...

5,301

5,160

4940666.SQ.FTS.B,

Zero

Cpn,

7/25/23

...

7,241

7,060

4941130.SQ.FTS.B,

Zero

Cpn,

7/25/23

...

1,638

1,596

4941191.SQ.FTS.B,

Zero

Cpn,

7/25/23

...

9,241

9,064

4941501.SQ.FTS.B,

Zero

Cpn,

7/26/23

...

2,100

2,041

4942412.SQ.FTS.B,

Zero

Cpn,

7/26/23

...

13,011

8,244

4942650.SQ.FTS.B,

Zero

Cpn,

7/26/23

...

3,236

3,150

4942760.SQ.FTS.B,

Zero

Cpn,

7/26/23

...

341

297

4942785.SQ.FTS.B,

Zero

Cpn,

7/26/23

...

2,875

2,781

4943156.SQ.FTS.B,

Zero

Cpn,

7/26/23

...

2,284

2,198

4945039.SQ.FTS.B,

Zero

Cpn,

7/27/23

...

37,611

33,771

4946064.SQ.FTS.B,

Zero

Cpn,

7/27/23

...

16,681

16,218

4947668.SQ.FTS.B,

Zero

Cpn,

7/27/23

...

6,632

5,837

4948483.SQ.FTS.B,

Zero

Cpn,

7/27/23

...

3,074

2,648

4949150.SQ.FTS.B,

Zero

Cpn,

7/28/23

...

6,027

5,753

4949681.SQ.FTS.B,

Zero

Cpn,

7/28/23

...

3,533

3,438

4950177.SQ.FTS.B,

Zero

Cpn,

7/28/23

...

2,565

2,510

4952546.SQ.FTS.B,

Zero

Cpn,

7/28/23

...

185

181

4952967.SQ.FTS.B,

Zero

Cpn,

7/28/23

...

1,766

1,717

4953176.SQ.FTS.B,

Zero

Cpn,

7/28/23

...

3,738

3,409

4953474.SQ.FTS.B,

Zero

Cpn,

7/28/23

...

1,949

1,871

4954599.SQ.FTS.B,

Zero

Cpn,

7/28/23

...

2,287

2,115

4954891.SQ.FTS.B,

Zero

Cpn,

7/28/23

...

598

508

4954895.SQ.FTS.B,

Zero

Cpn,

7/28/23

...

5,278

5,115

4955065.SQ.FTS.B,

Zero

Cpn,

7/28/23

...

1,379

1,341

4955142.SQ.FTS.B,

Zero

Cpn,

7/28/23

...

7,177

4,998

3612013.SQ.FTS.B,

Zero

Cpn,

7/29/23

...

3,513

560

4955556.SQ.FTS.B,

Zero

Cpn,

7/29/23

...

1,374

392

4955577.SQ.FTS.B,

Zero

Cpn,

7/29/23

...

1,195

1,167

4955767.SQ.FTS.B,

Zero

Cpn,

7/29/23

...

2,357

2,299

4955815.SQ.FTS.B,

Zero

Cpn,

7/29/23

...

1,503

929

4955840.SQ.FTS.B,

Zero

Cpn,

7/29/23

...

1,198

604

3612313.SQ.FTS.B,

Zero

Cpn,

7/30/23

...

3,994

375

4956027.SQ.FTS.B,

Zero

Cpn,

7/30/23

...

1,704

1,601

4956138.SQ.FTS.B,

Zero

Cpn,

7/30/23

...

1,531

1,437

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

56

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

4956172.SQ.FTS.B,

Zero

Cpn,

7/30/23

...

$

2,141

$

2,053

4956227.SQ.FTS.B,

Zero

Cpn,

7/30/23

...

1,753

1,712

4956284.SQ.FTS.B,

Zero

Cpn,

7/30/23

...

2,890

2,758

4956361.SQ.FTS.B,

Zero

Cpn,

7/30/23

...

1,964

1,914

4956452.SQ.FTS.B,

Zero

Cpn,

7/30/23

...

567

552

4956466.SQ.FTS.B,

Zero

Cpn,

7/30/23

...

14,838

14,420

4959964.SQ.FTS.B,

Zero

Cpn,

7/31/23

...

1,346

1,313

4960204.SQ.FTS.B,

Zero

Cpn,

7/31/23

...

1,001

958

4961743.SQ.FTS.B,

Zero

Cpn,

7/31/23

...

14,918

13,481

4963322.SQ.FTS.B,

Zero

Cpn,

7/31/23

...

26,311

25,485

3616837.SQ.FTS.B,

Zero

Cpn,

8/01/23

...

1,256

190

4963558.SQ.FTS.B,

Zero

Cpn,

8/01/23

...

468

433

4963581.SQ.FTS.B,

Zero

Cpn,

8/01/23

...

129

127

4963612.SQ.FTS.B,

Zero

Cpn,

8/01/23

...

5,323

5,193

4963799.SQ.FTS.B,

Zero

Cpn,

8/01/23

...

2,503

2,442

4963954.SQ.FTS.B,

Zero

Cpn,

8/01/23

...

1,338

1,304

4964012.SQ.FTS.B,

Zero

Cpn,

8/01/23

...

1,605

1,565

4964212.SQ.FTS.B,

Zero

Cpn,

8/01/23

...

3,126

3,018

4964393.SQ.FTS.B,

Zero

Cpn,

8/01/23

...

1,992

1,818

4964441.SQ.FTS.B,

Zero

Cpn,

8/01/23

...

5,679

3,868

4964899.SQ.FTS.B,

Zero

Cpn,

8/01/23

...

2,349

2,287

4965117.SQ.FTS.B,

Zero

Cpn,

8/01/23

...

1,098

1,072

4965157.SQ.FTS.B,

Zero

Cpn,

8/01/23

...

2,730

2,653

4965507.SQ.FTS.B,

Zero

Cpn,

8/01/23

...

2,389

2,325

4965732.SQ.FTS.B,

Zero

Cpn,

8/01/23

...

5,818

5,459

4965912.SQ.FTS.B,

Zero

Cpn,

8/01/23

...

25,392

20,420

4966001.SQ.FTS.B,

Zero

Cpn,

8/02/23

...

17,971

17,560

4967349.SQ.FTS.B,

Zero

Cpn,

8/02/23

...

4,657

4,538

4967621.SQ.FTS.B,

Zero

Cpn,

8/02/23

...

401

393

4967741.SQ.FTS.B,

Zero

Cpn,

8/02/23

...

1,846

1,733

4967772.SQ.FTS.B,

Zero

Cpn,

8/02/23

...

7,951

5,707

4968011.SQ.FTS.B,

Zero

Cpn,

8/02/23

...

1,138

1,108

4968065.SQ.FTS.B,

Zero

Cpn,

8/02/23

...

9,356

9,084

4968486.SQ.FTS.B,

Zero

Cpn,

8/02/23

...

3,537

3,454

4968645.SQ.FTS.B,

Zero

Cpn,

8/02/23

...

3,707

3,616

3622745.SQ.FTS.B,

Zero

Cpn,

8/03/23

...

5,722

1,254

4971127.SQ.FTS.B,

Zero

Cpn,

8/03/23

...

444

436

4971262.SQ.FTS.B,

Zero

Cpn,

8/03/23

...

4,477

4,346

4971434.SQ.FTS.B,

Zero

Cpn,

8/03/23

...

3,864

3,762

4971653.SQ.FTS.B,

Zero

Cpn,

8/03/23

...

940

918

4971706.SQ.FTS.B,

Zero

Cpn,

8/03/23

...

7,259

6,907

4972011.SQ.FTS.B,

Zero

Cpn,

8/03/23

...

553

533

4972056.SQ.FTS.B,

Zero

Cpn,

8/03/23

...

892

833

4972161.SQ.FTS.B,

Zero

Cpn,

8/03/23

...

2,475

2,388

4972251.SQ.FTS.B,

Zero

Cpn,

8/03/23

...

1,741

1,672

4972750.SQ.FTS.B,

Zero

Cpn,

8/04/23

...

10,735

10,490

4973437.SQ.FTS.B,

Zero

Cpn,

8/04/23

...

5,738

5,297

4973672.SQ.FTS.B,

Zero

Cpn,

8/04/23

...

154

151

4973708.SQ.FTS.B,

Zero

Cpn,

8/04/23

...

2,087

2,044

4973872.SQ.FTS.B,

Zero

Cpn,

8/04/23

...

5,232

5,087

4974134.SQ.FTS.B,

Zero

Cpn,

8/04/23

...

3,649

3,231

4974331.SQ.FTS.B,

Zero

Cpn,

8/04/23

...

1,808

1,719

4974401.SQ.FTS.B,

Zero

Cpn,

8/04/23

...

2,269

2,219

4974646.SQ.FTS.B,

Zero

Cpn,

8/04/23

...

7,087

6,797

3629212.SQ.FTS.B,

Zero

Cpn,

8/05/23

...

316

32

4975013.SQ.FTS.B,

Zero

Cpn,

8/05/23

...

3,658

3,534

4975120.SQ.FTS.B,

Zero

Cpn,

8/05/23

...

2,813

2,737

4975214.SQ.FTS.B,

Zero

Cpn,

8/05/23

...

362

311

Description

Principal

Amount

Value

Block,

Inc.

(continued)

4975221.SQ.FTS.B,

Zero

Cpn,

8/05/23

...

$

6,910

$

6,321

4975394.SQ.FTS.B,

Zero

Cpn,

8/05/23

...

2,252

1,276

4975448.SQ.FTS.B,

Zero

Cpn,

8/05/23

...

5,069

4,949

4975732.SQ.FTS.B,

Zero

Cpn,

8/06/23

...

1,154

1,025

4975986.SQ.FTS.B,

Zero

Cpn,

8/06/23

...

3,463

3,204

4976092.SQ.FTS.B,

Zero

Cpn,

8/06/23

...

3,437

3,359

3631012.SQ.FTS.B,

Zero

Cpn,

8/07/23

...

702

141

4976502.SQ.FTS.B,

Zero

Cpn,

8/07/23

...

9,657

9,410

4977130.SQ.FTS.B,

Zero

Cpn,

8/07/23

...

4,233

4,126

4977296.SQ.FTS.B,

Zero

Cpn,

8/07/23

...

1,292

1,166

4977570.SQ.FTS.B,

Zero

Cpn,

8/07/23

...

3,387

3,278

4977740.SQ.FTS.B,

Zero

Cpn,

8/07/23

...

13,817

12,931

4978257.SQ.FTS.B,

Zero

Cpn,

8/07/23

...

2,573

2,496

4978348.SQ.FTS.B,

Zero

Cpn,

8/07/23

...

2,720

2,634

4978514.SQ.FTS.B,

Zero

Cpn,

8/07/23

...

7,924

7,610

4978726.SQ.FTS.B,

Zero

Cpn,

8/07/23

...

203

199

4978753.SQ.FTS.B,

Zero

Cpn,

8/07/23

...

473

373

4978821.SQ.FTS.B,

Zero

Cpn,

8/07/23

...

9,429

8,638

4978971.SQ.FTS.B,

Zero

Cpn,

8/08/23

...

23,678

22,740

4979999.SQ.FTS.B,

Zero

Cpn,

8/08/23

...

2,217

1,453

4980045.SQ.FTS.B,

Zero

Cpn,

8/08/23

...

4,267

4,006

4980204.SQ.FTS.B,

Zero

Cpn,

8/08/23

...

27,473

26,824

3635780.SQ.FTS.B,

Zero

Cpn,

8/09/23

...

345

98

3637286.SQ.FTS.B,

Zero

Cpn,

8/09/23

...

2,800

779

4981564.SQ.FTS.B,

Zero

Cpn,

8/09/23

...

656

633

4981810.SQ.FTS.B,

Zero

Cpn,

8/09/23

...

2,494

1,474

4981972.SQ.FTS.B,

Zero

Cpn,

8/09/23

...

3,083

2,735

4982543.SQ.FTS.B,

Zero

Cpn,

8/09/23

...

4,839

4,753

4983079.SQ.FTS.B,

Zero

Cpn,

8/09/23

...

2,369

2,306

4983314.SQ.FTS.B,

Zero

Cpn,

8/09/23

...

4,662

4,534

4984859.SQ.FTS.B,

Zero

Cpn,

8/10/23

...

3,743

3,325

4985060.SQ.FTS.B,

Zero

Cpn,

8/10/23

...

20,362

19,793

4986058.SQ.FTS.B,

Zero

Cpn,

8/10/23

...

3,369

2,759

4986232.SQ.FTS.B,

Zero

Cpn,

8/10/23

...

2,703

2,492

4986387.SQ.FTS.B,

Zero

Cpn,

8/10/23

...

5,930

5,775

4986764.SQ.FTS.B,

Zero

Cpn,

8/10/23

...

6,856

5,388

4987235.SQ.FTS.B,

Zero

Cpn,

8/11/23

...

2,997

2,462

4987489.SQ.FTS.B,

Zero

Cpn,

8/11/23

...

5,639

5,521

4987853.SQ.FTS.B,

Zero

Cpn,

8/11/23

...

13,264

12,022

4989575.SQ.FTS.B,

Zero

Cpn,

8/11/23

...

1,283

917

4989709.SQ.FTS.B,

Zero

Cpn,

8/11/23

...

58,006

38,167

4990419.SQ.FTS.B,

Zero

Cpn,

8/12/23

...

653

630

4990427.SQ.FTS.B,

Zero

Cpn,

8/12/23

...

1,169

925

4990444.SQ.FTS.B,

Zero

Cpn,

8/12/23

...

380

373

4990465.SQ.FTS.B,

Zero

Cpn,

8/12/23

...

4,372

4,246

4990624.SQ.FTS.B,

Zero

Cpn,

8/12/23

...

1,688

1,649

4990671.SQ.FTS.B,

Zero

Cpn,

8/12/23

...

1,435

1,377

4990736.SQ.FTS.B,

Zero

Cpn,

8/12/23

...

3,506

3,395

4990812.SQ.FTS.B,

Zero

Cpn,

8/12/23

...

3,319

1,501

4990987.SQ.FTS.B,

Zero

Cpn,

8/13/23

...

886

863

4991130.SQ.FTS.B,

Zero

Cpn,

8/13/23

...

598

584

4991140.SQ.FTS.B,

Zero

Cpn,

8/13/23

...

733

716

4991179.SQ.FTS.B,

Zero

Cpn,

8/13/23

...

3,346

3,251

4991412.SQ.FTS.B,

Zero

Cpn,

8/13/23

...

1,244

1,172

3647852.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

324

91

4991768.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

2,488

2,399

4991977.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

6,890

6,621

4992305.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

1,781

1,732

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

57

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

4992383.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

$

6,357

$

5,161

4992493.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

1,439

1,266

4992550.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

4,337

4,220

4992710.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

371

365

4992746.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

554

543

4992801.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

3,831

3,734

4992977.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

1,616

1,560

4992999.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

3,694

3,585

4993084.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

2,868

2,699

4993188.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

2,026

1,980

4993359.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

741

713

4993459.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

524

488

4993520.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

804

789

4993580.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

600

586

4994401.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

753

736

4994599.SQ.FTS.B,

Zero

Cpn,

8/15/23

...

3,655

3,564

4994777.SQ.FTS.B,

Zero

Cpn,

8/15/23

...

1,142

1,077

4994787.SQ.FTS.B,

Zero

Cpn,

8/15/23

...

25,828

25,122

4999507.SQ.FTS.B,

Zero

Cpn,

8/15/23

...

1,931

1,783

4999672.SQ.FTS.B,

Zero

Cpn,

8/15/23

...

6,244

6,032

5000303.SQ.FTS.B,

Zero

Cpn,

8/15/23

...

4,327

4,192

5000803.SQ.FTS.B,

Zero

Cpn,

8/15/23

...

219

205

5002941.SQ.FTS.B,

Zero

Cpn,

8/15/23

...

4,896

4,773

5003690.SQ.FTS.B,

Zero

Cpn,

8/15/23

...

12,691

12,425

5004164.SQ.FTS.B,

Zero

Cpn,

8/16/23

...

1,857

1,812

5004401.SQ.FTS.B,

Zero

Cpn,

8/16/23

...

14,757

13,358

5005255.SQ.FTS.B,

Zero

Cpn,

8/16/23

...

2,809

2,728

5006161.SQ.FTS.B,

Zero

Cpn,

8/16/23

...

1,013

897

5006216.SQ.FTS.B,

Zero

Cpn,

8/16/23

...

1,378

1,303

5006342.SQ.FTS.B,

Zero

Cpn,

8/16/23

...

8,415

8,086

5006802.SQ.FTS.B,

Zero

Cpn,

8/16/23

...

8,961

6,157

5007071.SQ.FTS.B,

Zero

Cpn,

8/16/23

...

2,382

2,325

5007208.SQ.FTS.B,

Zero

Cpn,

8/16/23

...

201

194

5007224.SQ.FTS.B,

Zero

Cpn,

8/16/23

...

2,659

2,589

5007338.SQ.FTS.B,

Zero

Cpn,

8/16/23

...

1,469

1,434

5007455.SQ.FTS.B,

Zero

Cpn,

8/16/23

...

847

830

5007510.SQ.FTS.B,

Zero

Cpn,

8/16/23

...

738

716

5007529.SQ.FTS.B,

Zero

Cpn,

8/16/23

...

3,022

2,934

5007755.SQ.FTS.B,

Zero

Cpn,

8/16/23

...

3,496

3,378

5007962.SQ.FTS.B,

Zero

Cpn,

8/16/23

...

7,793

7,265

5008188.SQ.FTS.B,

Zero

Cpn,

8/16/23

...

193

184

5008198.SQ.FTS.B,

Zero

Cpn,

8/16/23

...

3,172

3,100

5008402.SQ.FTS.B,

Zero

Cpn,

8/16/23

...

2,390

2,343

3652306.SQ.FTS.B,

Zero

Cpn,

8/17/23

...

183

82

5015742.SQ.FTS.B,

Zero

Cpn,

8/17/23

...

34,636

33,653

5018280.SQ.FTS.B,

Zero

Cpn,

8/17/23

...

1,637

1,574

5018409.SQ.FTS.B,

Zero

Cpn,

8/17/23

...

21,701

19,205

5019192.SQ.FTS.B,

Zero

Cpn,

8/17/23

...

10,195

9,875

5019944.SQ.FTS.B,

Zero

Cpn,

8/17/23

...

137

134

5020011.SQ.FTS.B,

Zero

Cpn,

8/17/23

...

6,592

5,768

3671358.SQ.FTS.B,

Zero

Cpn,

8/18/23

...

6,304

1,775

5020344.SQ.FTS.B,

Zero

Cpn,

8/18/23

...

12,943

12,587

5020977.SQ.FTS.B,

Zero

Cpn,

8/18/23

...

708

647

5023321.SQ.FTS.B,

Zero

Cpn,

8/18/23

...

6,518

6,313

5023993.SQ.FTS.B,

Zero

Cpn,

8/18/23

...

6,304

6,100

5024456.SQ.FTS.B,

Zero

Cpn,

8/18/23

...

12,993

12,553

5024975.SQ.FTS.B,

Zero

Cpn,

8/18/23

...

20,240

19,599

5025776.SQ.FTS.B,

Zero

Cpn,

8/19/23

...

1,481

1,390

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5025787.SQ.FTS.B,

Zero

Cpn,

8/19/23

...

$

10,648

$

10,336

5026231.SQ.FTS.B,

Zero

Cpn,

8/19/23

...

3,324

3,228

5026306.SQ.FTS.B,

Zero

Cpn,

8/19/23

...

5,271

5,130

3693598.SQ.FTS.B,

Zero

Cpn,

8/20/23

...

3,904

1,036

3693768.SQ.FTS.B,

Zero

Cpn,

8/20/23

...

1,735

405

5026401.SQ.FTS.B,

Zero

Cpn,

8/20/23

...

284

279

5026478.SQ.FTS.B,

Zero

Cpn,

8/20/23

...

3,878

3,721

5026534.SQ.FTS.B,

Zero

Cpn,

8/20/23

...

2,080

1,332

5026554.SQ.FTS.B,

Zero

Cpn,

8/20/23

...

1,193

1,161

5026581.SQ.FTS.B,

Zero

Cpn,

8/20/23

...

2,543

2,475

5026663.SQ.FTS.B,

Zero

Cpn,

8/20/23

...

7,491

7,273

5026811.SQ.FTS.B,

Zero

Cpn,

8/20/23

...

262

256

5026821.SQ.FTS.B,

Zero

Cpn,

8/20/23

...

1,390

1,357

5026866.SQ.FTS.B,

Zero

Cpn,

8/20/23

...

874

845

5026883.SQ.FTS.B,

Zero

Cpn,

8/20/23

...

10,092

8,007

5026993.SQ.FTS.B,

Zero

Cpn,

8/21/23

...

13,931

9,593

5027172.SQ.FTS.B,

Zero

Cpn,

8/21/23

...

930

900

5027197.SQ.FTS.B,

Zero

Cpn,

8/21/23

...

722

695

5027224.SQ.FTS.B,

Zero

Cpn,

8/21/23

...

925

886

5027243.SQ.FTS.B,

Zero

Cpn,

8/21/23

...

3,947

3,852

5027394.SQ.FTS.B,

Zero

Cpn,

8/21/23

...

1,935

1,856

5027579.SQ.FTS.B,

Zero

Cpn,

8/21/23

...

1,129

1,102

3700150.SQ.FTS.B,

Zero

Cpn,

8/22/23

...

3,008

661

5028812.SQ.FTS.B,

Zero

Cpn,

8/22/23

...

2,890

2,806

5029358.SQ.FTS.B,

Zero

Cpn,

8/22/23

...

4,698

4,544

5029604.SQ.FTS.B,

Zero

Cpn,

8/22/23

...

739

727

5030029.SQ.FTS.B,

Zero

Cpn,

8/22/23

...

544

531

5030220.SQ.FTS.B,

Zero

Cpn,

8/22/23

...

1,004

971

5030246.SQ.FTS.B,

Zero

Cpn,

8/22/23

...

2,367

2,270

5031525.SQ.FTS.B,

Zero

Cpn,

8/22/23

...

2,290

2,125

5031602.SQ.FTS.B,

Zero

Cpn,

8/22/23

...

29,755

26,280

5031982.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

2,170

2,117

5032129.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

2,179

2,125

5032610.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

3,294

3,185

5032697.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

18,571

17,788

5034341.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

877

771

5034387.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

707

665

5034444.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

4,267

3,860

5034623.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

1,826

1,555

5034716.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

1,842

1,793

5034809.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

1,770

1,603

5034894.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

1,005

906

5035005.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

7,428

7,237

5035237.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

1,527

1,480

5035417.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

4,625

4,274

5035496.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

11,612

10,815

5035820.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

1,552

1,441

5037778.SQ.FTS.B,

Zero

Cpn,

8/24/23

...

2,986

2,890

5037912.SQ.FTS.B,

Zero

Cpn,

8/24/23

...

19,988

19,355

5038714.SQ.FTS.B,

Zero

Cpn,

8/24/23

...

7,261

7,103

5039156.SQ.FTS.B,

Zero

Cpn,

8/24/23

...

10,194

9,884

5039411.SQ.FTS.B,

Zero

Cpn,

8/24/23

...

22,460

21,714

5040230.SQ.FTS.B,

Zero

Cpn,

8/24/23

...

920

854

5040521.SQ.FTS.B,

Zero

Cpn,

8/24/23

...

4,920

4,772

3734939.SQ.FTS.B,

Zero

Cpn,

8/25/23

...

1,681

413

5040599.SQ.FTS.B,

Zero

Cpn,

8/25/23

...

6,054

4,951

5040843.SQ.FTS.B,

Zero

Cpn,

8/25/23

...

1,295

1,252

5040948.SQ.FTS.B,

Zero

Cpn,

8/25/23

...

6,280

5,314

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

58

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5041058.SQ.FTS.B,

Zero

Cpn,

8/25/23

...

$

4,718

$

4,297

5041556.SQ.FTS.B,

Zero

Cpn,

8/25/23

...

1,215

1,184

5041617.SQ.FTS.B,

Zero

Cpn,

8/25/23

...

8,467

8,290

5042184.SQ.FTS.B,

Zero

Cpn,

8/25/23

...

2,559

2,323

5042276.SQ.FTS.B,

Zero

Cpn,

8/25/23

...

2,043

1,981

5042622.SQ.FTS.B,

Zero

Cpn,

8/25/23

...

9,727

9,252

5042939.SQ.FTS.B,

Zero

Cpn,

8/25/23

...

5,519

4,392

5043022.SQ.FTS.B,

Zero

Cpn,

8/25/23

...

2,381

2,295

5043086.SQ.FTS.B,

Zero

Cpn,

8/25/23

...

14,719

13,694

5043331.SQ.FTS.B,

Zero

Cpn,

8/26/23

...

463

442

5043372.SQ.FTS.B,

Zero

Cpn,

8/26/23

...

1,223

1,197

5043408.SQ.FTS.B,

Zero

Cpn,

8/26/23

...

1,362

1,014

5043421.SQ.FTS.B,

Zero

Cpn,

8/26/23

...

24,411

23,496

5043918.SQ.FTS.B,

Zero

Cpn,

8/26/23

...

39

39

5043928.SQ.FTS.B,

Zero

Cpn,

8/26/23

...

2,109

2,056

5043997.SQ.FTS.B,

Zero

Cpn,

8/26/23

...

2,236

2,164

5044041.SQ.FTS.B,

Zero

Cpn,

8/27/23

...

2,577

2,489

5044115.SQ.FTS.B,

Zero

Cpn,

8/27/23

...

1,444

632

5044128.SQ.FTS.B,

Zero

Cpn,

8/27/23

...

1,917

1,800

5044173.SQ.FTS.B,

Zero

Cpn,

8/27/23

...

171

168

5044215.SQ.FTS.B,

Zero

Cpn,

8/27/23

...

1,577

1,534

5044278.SQ.FTS.B,

Zero

Cpn,

8/27/23

...

6,396

4,263

5044407.SQ.FTS.B,

Zero

Cpn,

8/27/23

...

1,848

1,797

5044598.SQ.FTS.B,

Zero

Cpn,

8/27/23

...

2,917

2,597

5044631.SQ.FTS.B,

Zero

Cpn,

8/27/23

...

1,271

1,236

5044808.SQ.FTS.B,

Zero

Cpn,

8/28/23

...

6,297

6,088

5045381.SQ.FTS.B,

Zero

Cpn,

8/28/23

...

1,377

1,329

5045738.SQ.FTS.B,

Zero

Cpn,

8/28/23

...

955

907

5045839.SQ.FTS.B,

Zero

Cpn,

8/28/23

...

1,917

1,848

5045895.SQ.FTS.B,

Zero

Cpn,

8/28/23

...

1,222

949

5046054.SQ.FTS.B,

Zero

Cpn,

8/28/23

...

470

461

5046118.SQ.FTS.B,

Zero

Cpn,

8/28/23

...

3,910

3,803

5047301.SQ.FTS.B,

Zero

Cpn,

8/28/23

...

4,140

3,078

5047360.SQ.FTS.B,

Zero

Cpn,

8/28/23

...

2,547

2,454

5047438.SQ.FTS.B,

Zero

Cpn,

8/28/23

...

9,919

8,147

5047888.SQ.FTS.B,

Zero

Cpn,

8/28/23

...

1,859

1,801

5047924.SQ.FTS.B,

Zero

Cpn,

9/01/23

...

2,089

2,037

5048015.SQ.FTS.B,

Zero

Cpn,

9/01/23

...

6,945

6,771

5048164.SQ.FTS.B,

Zero

Cpn,

9/01/23

...

1,067

1,027

5048664.SQ.FTS.B,

Zero

Cpn,

9/01/23

...

6,949

6,466

5048946.SQ.FTS.B,

Zero

Cpn,

9/01/23

...

20,629

20,003

5050070.SQ.FTS.B,

Zero

Cpn,

9/01/23

...

7,760

7,393

5050860.SQ.FTS.B,

Zero

Cpn,

9/01/23

...

243

237

5051283.SQ.FTS.B,

Zero

Cpn,

9/02/23

...

4,320

4,174

5051370.SQ.FTS.B,

Zero

Cpn,

9/02/23

...

4,568

4,423

5051478.SQ.FTS.B,

Zero

Cpn,

9/02/23

...

6,619

6,345

5051662.SQ.FTS.B,

Zero

Cpn,

9/02/23

...

32,093

30,687

5052542.SQ.FTS.B,

Zero

Cpn,

9/02/23

...

558

547

5052604.SQ.FTS.B,

Zero

Cpn,

9/02/23

...

2,969

2,883

5052702.SQ.FTS.B,

Zero

Cpn,

9/02/23

...

14,079

13,602

5053030.SQ.FTS.B,

Zero

Cpn,

9/02/23

...

373

357

5053049.SQ.FTS.B,

Zero

Cpn,

9/02/23

...

928

911

5053156.SQ.FTS.B,

Zero

Cpn,

9/02/23

...

766

748

5053621.SQ.FTS.B,

Zero

Cpn,

9/02/23

...

1,211

1,181

5053684.SQ.FTS.B,

Zero

Cpn,

9/02/23

...

1,259

1,215

5053761.SQ.FTS.B,

Zero

Cpn,

9/02/23

...

3,341

3,236

5053854.SQ.FTS.B,

Zero

Cpn,

9/02/23

...

5,836

5,624

5053922.SQ.FTS.B,

Zero

Cpn,

9/02/23

...

784

759

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5055828.SQ.FTS.B,

Zero

Cpn,

9/03/23

...

$

2,189

$

2,063

5055922.SQ.FTS.B,

Zero

Cpn,

9/03/23

...

71,497

59,928

5057829.SQ.FTS.B,

Zero

Cpn,

9/03/23

...

1,308

573

5057999.SQ.FTS.B,

Zero

Cpn,

9/03/23

...

787

763

5058089.SQ.FTS.B,

Zero

Cpn,

9/03/23

...

25,805

24,964

5059152.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

4,461

4,316

5059460.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

3,234

3,156

5059526.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

743

712

5059544.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

4,672

4,531

5059764.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

2,062

1,623

5060211.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

2,183

2,118

5060319.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

1,148

1,116

5060384.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

1,165

1,041

5060438.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

3,825

3,734

5060558.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

7,869

7,622

5061023.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

2,053

1,902

5061114.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

1,022

963

5061192.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

2,151

1,757

5061274.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

1,230

1,182

5061338.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

2,516

2,444

5061518.SQ.FTS.B,

Zero

Cpn,

9/05/23

...

1,251

1,226

5061585.SQ.FTS.B,

Zero

Cpn,

9/05/23

...

3,340

2,891

5061629.SQ.FTS.B,

Zero

Cpn,

9/05/23

...

21,842

19,460

5061929.SQ.FTS.B,

Zero

Cpn,

9/05/23

...

4,434

4,331

5062108.SQ.FTS.B,

Zero

Cpn,

9/05/23

...

2,011

852

5062132.SQ.FTS.B,

Zero

Cpn,

9/05/23

...

12,392

12,072

5062435.SQ.FTS.B,

Zero

Cpn,

9/06/23

...

1,629

1,578

5062474.SQ.FTS.B,

Zero

Cpn,

9/06/23

...

11,287

10,801

5062683.SQ.FTS.B,

Zero

Cpn,

9/06/23

...

4,967

4,602

5062766.SQ.FTS.B,

Zero

Cpn,

9/06/23

...

3,681

3,440

5062883.SQ.FTS.B,

Zero

Cpn,

9/06/23

...

3,462

3,370

5063428.SQ.FTS.B,

Zero

Cpn,

9/07/23

...

1,380

1,336

5064006.SQ.FTS.B,

Zero

Cpn,

9/07/23

...

5,556

5,329

5064182.SQ.FTS.B,

Zero

Cpn,

9/07/23

...

1,194

1,145

5064256.SQ.FTS.B,

Zero

Cpn,

9/07/23

...

495

484

5064316.SQ.FTS.B,

Zero

Cpn,

9/07/23

...

722

702

5064363.SQ.FTS.B,

Zero

Cpn,

9/07/23

...

2,721

2,639

5064493.SQ.FTS.B,

Zero

Cpn,

9/07/23

...

5,838

5,186

5064754.SQ.FTS.B,

Zero

Cpn,

9/07/23

...

36,561

32,947

5065553.SQ.FTS.B,

Zero

Cpn,

9/07/23

...

11,144

5,893

5065902.SQ.FTS.B,

Zero

Cpn,

9/07/23

...

1,711

1,594

5065961.SQ.FTS.B,

Zero

Cpn,

9/07/23

...

3,258

3,146

5065983.SQ.FTS.B,

Zero

Cpn,

9/08/23

...

1,842

1,703

5066092.SQ.FTS.B,

Zero

Cpn,

9/08/23

...

11,774

10,777

5066289.SQ.FTS.B,

Zero

Cpn,

9/08/23

...

5,478

5,339

5066380.SQ.FTS.B,

Zero

Cpn,

9/08/23

...

3,964

3,330

5066484.SQ.FTS.B,

Zero

Cpn,

9/08/23

...

6,220

6,018

5066767.SQ.FTS.B,

Zero

Cpn,

9/08/23

...

5,532

5,397

5068350.SQ.FTS.B,

Zero

Cpn,

9/08/23

...

4,912

4,758

5068462.SQ.FTS.B,

Zero

Cpn,

9/08/23

...

368

360

5068562.SQ.FTS.B,

Zero

Cpn,

9/08/23

...

5,637

5,384

5068663.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

2,382

2,302

5068794.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

1,416

1,381

5069395.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

5,881

5,707

5070355.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

3,605

3,502

5070501.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

9,561

8,794

5070735.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

356

346

5070744.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

1,198

933

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

59

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5070777.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

$

2,324

$

2,231

5070989.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

5,129

4,855

5071194.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

3,468

3,359

5071238.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

29,584

28,816

5073020.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

3,985

3,564

5073065.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

7,795

7,526

5073154.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

1,066

1,039

5073174.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

919

859

5073179.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

6,918

6,516

5073358.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

3,800

3,673

5073687.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

5,790

4,558

5073838.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

1,035

1,013

5073906.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

4,038

3,697

5074003.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

5,962

5,763

5074359.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

1,876

1,824

5074462.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

3,244

2,709

5074560.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

2,751

2,679

5074665.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

2,332

2,257

5074794.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

6,929

6,647

5075002.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

5,549

5,295

5075234.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

1,221

1,084

5075271.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

2,705

1,445

5075325.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

14,157

13,602

5075599.SQ.FTS.B,

Zero

Cpn,

9/11/23

...

1,363

1,328

5075710.SQ.FTS.B,

Zero

Cpn,

9/11/23

...

5,236

5,080

5075922.SQ.FTS.B,

Zero

Cpn,

9/11/23

...

779

614

5075933.SQ.FTS.B,

Zero

Cpn,

9/11/23

...

1,779

1,594

5075955.SQ.FTS.B,

Zero

Cpn,

9/11/23

...

1,247

1,216

5075989.SQ.FTS.B,

Zero

Cpn,

9/11/23

...

916

898

5076038.SQ.FTS.B,

Zero

Cpn,

9/11/23

...

978

958

5076097.SQ.FTS.B,

Zero

Cpn,

9/11/23

...

3,605

3,484

5076234.SQ.FTS.B,

Zero

Cpn,

9/11/23

...

3,925

3,727

5076367.SQ.FTS.B,

Zero

Cpn,

9/11/23

...

1,323

1,274

5076480.SQ.FTS.B,

Zero

Cpn,

9/11/23

...

1,540

1,495

5076643.SQ.FTS.B,

Zero

Cpn,

9/11/23

...

1,416

1,357

5076991.SQ.FTS.B,

Zero

Cpn,

9/11/23

...

24,394

23,052

5077733.SQ.FTS.B,

Zero

Cpn,

9/11/23

...

1,718

1,675

5077862.SQ.FTS.B,

Zero

Cpn,

9/11/23

...

29,718

25,701

5078205.SQ.FTS.B,

Zero

Cpn,

9/12/23

...

1,783

1,729

5078260.SQ.FTS.B,

Zero

Cpn,

9/12/23

...

4,568

4,316

5078355.SQ.FTS.B,

Zero

Cpn,

9/12/23

...

7,326

7,111

5078505.SQ.FTS.B,

Zero

Cpn,

9/12/23

...

4,099

3,921

5078646.SQ.FTS.B,

Zero

Cpn,

9/12/23

...

940

741

5078674.SQ.FTS.B,

Zero

Cpn,

9/12/23

...

2,225

2,149

5078916.SQ.FTS.B,

Zero

Cpn,

9/13/23

...

2,363

2,285

5079013.SQ.FTS.B,

Zero

Cpn,

9/13/23

...

4,608

4,481

5079138.SQ.FTS.B,

Zero

Cpn,

9/13/23

...

1,941

1,821

5079279.SQ.FTS.B,

Zero

Cpn,

9/13/23

...

1,995

1,947

5079382.SQ.FTS.B,

Zero

Cpn,

9/13/23

...

2,294

2,240

5079467.SQ.FTS.B,

Zero

Cpn,

9/13/23

...

3,096

3,006

5079639.SQ.FTS.B,

Zero

Cpn,

9/14/23

...

4,368

3,916

5079962.SQ.FTS.B,

Zero

Cpn,

9/14/23

...

8,977

8,219

5080338.SQ.FTS.B,

Zero

Cpn,

9/14/23

...

3,627

3,473

5080449.SQ.FTS.B,

Zero

Cpn,

9/14/23

...

828

803

5080481.SQ.FTS.B,

Zero

Cpn,

9/14/23

...

1,464

1,423

5080548.SQ.FTS.B,

Zero

Cpn,

9/14/23

...

1,138

1,076

5080590.SQ.FTS.B,

Zero

Cpn,

9/14/23

...

1,329

1,252

5080651.SQ.FTS.B,

Zero

Cpn,

9/14/23

...

988

970

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5080808.SQ.FTS.B,

Zero

Cpn,

9/14/23

...

$

15,912

$

15,439

5081348.SQ.FTS.B,

Zero

Cpn,

9/14/23

...

16,685

16,077

5081725.SQ.FTS.B,

Zero

Cpn,

9/14/23

...

756

651

5081749.SQ.FTS.B,

Zero

Cpn,

9/14/23

...

1,212

1,180

5082036.SQ.FTS.B,

Zero

Cpn,

9/14/23

...

3,501

3,383

5082099.SQ.FTS.B,

Zero

Cpn,

9/14/23

...

326

319

5082114.SQ.FTS.B,

Zero

Cpn,

9/14/23

...

15,526

14,178

5082270.SQ.FTS.B,

Zero

Cpn,

9/15/23

...

10,740

9,841

5082570.SQ.FTS.B,

Zero

Cpn,

9/15/23

...

386

369

5083204.SQ.FTS.B,

Zero

Cpn,

9/15/23

...

12,536

6,689

5084141.SQ.FTS.B,

Zero

Cpn,

9/15/23

...

1,386

1,351

5084234.SQ.FTS.B,

Zero

Cpn,

9/15/23

...

401

359

5084245.SQ.FTS.B,

Zero

Cpn,

9/15/23

...

2,181

2,086

5084305.SQ.FTS.B,

Zero

Cpn,

9/15/23

...

1,813

1,771

5084422.SQ.FTS.B,

Zero

Cpn,

9/15/23

...

3,805

3,188

5084816.SQ.FTS.B,

Zero

Cpn,

9/16/23

...

419

379

5084881.SQ.FTS.B,

Zero

Cpn,

9/16/23

...

4,106

3,607

5085025.SQ.FTS.B,

Zero

Cpn,

9/16/23

...

9,484

8,528

5085179.SQ.FTS.B,

Zero

Cpn,

9/16/23

...

2,500

2,081

5085233.SQ.FTS.B,

Zero

Cpn,

9/16/23

...

2,807

2,687

5085391.SQ.FTS.B,

Zero

Cpn,

9/16/23

...

6,372

6,158

5085795.SQ.FTS.B,

Zero

Cpn,

9/16/23

...

3,543

3,184

5085950.SQ.FTS.B,

Zero

Cpn,

9/16/23

...

1,516

1,476

5086405.SQ.FTS.B,

Zero

Cpn,

9/16/23

...

1,148

1,120

5086479.SQ.FTS.B,

Zero

Cpn,

9/16/23

...

13,221

12,781

5088388.SQ.FTS.B,

Zero

Cpn,

9/17/23

...

1,090

973

5088461.SQ.FTS.B,

Zero

Cpn,

9/17/23

...

6,033

5,818

5088631.SQ.FTS.B,

Zero

Cpn,

9/17/23

...

25,503

24,707

5089917.SQ.FTS.B,

Zero

Cpn,

9/17/23

...

4,270

4,166

5090191.SQ.FTS.B,

Zero

Cpn,

9/17/23

...

14,306

13,688

5090817.SQ.FTS.B,

Zero

Cpn,

9/17/23

...

2,988

2,892

5090906.SQ.FTS.B,

Zero

Cpn,

9/17/23

...

2,037

1,980

5090985.SQ.FTS.B,

Zero

Cpn,

9/17/23

...

1,024

881

5091078.SQ.FTS.B,

Zero

Cpn,

9/17/23

...

1,266

1,221

5091176.SQ.FTS.B,

Zero

Cpn,

9/18/23

...

4,771

4,612

5091642.SQ.FTS.B,

Zero

Cpn,

9/18/23

...

1,161

1,126

5091773.SQ.FTS.B,

Zero

Cpn,

9/18/23

...

5,661

3,994

5091997.SQ.FTS.B,

Zero

Cpn,

9/18/23

...

488

472

5092026.SQ.FTS.B,

Zero

Cpn,

9/18/23

...

2,605

2,340

5092120.SQ.FTS.B,

Zero

Cpn,

9/18/23

...

4,558

4,403

5092297.SQ.FTS.B,

Zero

Cpn,

9/18/23

...

3,639

3,423

5092459.SQ.FTS.B,

Zero

Cpn,

9/18/23

...

8,762

8,453

5092819.SQ.FTS.B,

Zero

Cpn,

9/18/23

...

30,046

29,056

5093823.SQ.FTS.B,

Zero

Cpn,

9/19/23

...

5,932

5,637

5093927.SQ.FTS.B,

Zero

Cpn,

9/19/23

...

687

603

5093934.SQ.FTS.B,

Zero

Cpn,

9/19/23

...

215

211

5094096.SQ.FTS.B,

Zero

Cpn,

9/19/23

...

802

778

5094111.SQ.FTS.B,

Zero

Cpn,

9/19/23

...

1,523

1,472

5094121.SQ.FTS.B,

Zero

Cpn,

9/19/23

...

3,872

3,553

5094157.SQ.FTS.B,

Zero

Cpn,

9/19/23

...

6,170

5,913

5094255.SQ.FTS.B,

Zero

Cpn,

9/19/23

...

1,540

1,501

5094278.SQ.FTS.B,

Zero

Cpn,

9/19/23

...

989

925

5094327.SQ.FTS.B,

Zero

Cpn,

9/19/23

...

2,033

1,624

5094418.SQ.FTS.B,

Zero

Cpn,

9/20/23

...

1,681

1,631

5094436.SQ.FTS.B,

Zero

Cpn,

9/20/23

...

674

630

5094512.SQ.FTS.B,

Zero

Cpn,

9/20/23

...

418

410

5094523.SQ.FTS.B,

Zero

Cpn,

9/20/23

...

956

931

5094655.SQ.FTS.B,

Zero

Cpn,

9/20/23

...

4,238

3,039

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

60

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5094701.SQ.FTS.B,

Zero

Cpn,

9/20/23

...

$

6,026

$

5,813

5095338.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

3,054

2,913

5095515.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

10,889

10,569

5095837.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

10,462

9,419

5096024.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

14,895

13,454

5096266.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

592

576

5096286.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

5,953

5,168

5096383.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

660

644

5096630.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

3,417

3,297

5096679.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

2,623

2,530

5096720.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

61

60

5096744.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

1,414

1,358

5096839.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

1,365

1,320

5096876.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

11,126

10,870

5097165.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

2,903

2,714

5097214.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

6,138

5,933

5097330.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

20,557

12,292

5097489.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

6,460

5,680

5097581.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

18,211

15,468

5097812.SQ.FTS.B,

Zero

Cpn,

9/22/23

...

6,433

6,208

5097934.SQ.FTS.B,

Zero

Cpn,

9/22/23

...

2,450

2,365

5098722.SQ.FTS.B,

Zero

Cpn,

9/22/23

...

7,539

7,097

5098869.SQ.FTS.B,

Zero

Cpn,

9/22/23

...

7,743

7,137

5099070.SQ.FTS.B,

Zero

Cpn,

9/22/23

...

1,582

1,425

5099122.SQ.FTS.B,

Zero

Cpn,

9/22/23

...

13,550

13,149

5099474.SQ.FTS.B,

Zero

Cpn,

9/22/23

...

717

703

5099540.SQ.FTS.B,

Zero

Cpn,

9/22/23

...

5,154

4,768

5099705.SQ.FTS.B,

Zero

Cpn,

9/22/23

...

2,705

2,493

5099737.SQ.FTS.B,

Zero

Cpn,

9/22/23

...

4,942

4,616

5099825.SQ.FTS.B,

Zero

Cpn,

9/22/23

...

4,995

4,880

5100086.SQ.FTS.B,

Zero

Cpn,

9/22/23

...

19,516

18,972

5100405.SQ.FTS.B,

Zero

Cpn,

9/23/23

...

3,370

3,259

5100542.SQ.FTS.B,

Zero

Cpn,

9/23/23

...

3,113

3,034

5100650.SQ.FTS.B,

Zero

Cpn,

9/23/23

...

9,118

8,386

5100913.SQ.FTS.B,

Zero

Cpn,

9/23/23

...

1,849

1,778

5101554.SQ.FTS.B,

Zero

Cpn,

9/23/23

...

19,171

18,404

5102160.SQ.FTS.B,

Zero

Cpn,

9/23/23

...

2,514

2,460

5102301.SQ.FTS.B,

Zero

Cpn,

9/23/23

...

1,186

1,151

5102362.SQ.FTS.B,

Zero

Cpn,

9/23/23

...

27,982

25,138

5104347.SQ.FTS.B,

Zero

Cpn,

9/24/23

...

5,273

5,150

5104638.SQ.FTS.B,

Zero

Cpn,

9/24/23

...

2,360

2,203

5104775.SQ.FTS.B,

Zero

Cpn,

9/24/23

...

582

515

5104788.SQ.FTS.B,

Zero

Cpn,

9/24/23

...

7,815

7,595

5105629.SQ.FTS.B,

Zero

Cpn,

9/24/23

...

5,094

4,934

5105920.SQ.FTS.B,

Zero

Cpn,

9/24/23

...

2,302

2,232

5106075.SQ.FTS.B,

Zero

Cpn,

9/24/23

...

10,156

9,776

5106432.SQ.FTS.B,

Zero

Cpn,

9/24/23

...

8,370

8,122

5106704.SQ.FTS.B,

Zero

Cpn,

9/24/23

...

8,022

7,791

5106853.SQ.FTS.B,

Zero

Cpn,

9/24/23

...

1,965

1,915

5106889.SQ.FTS.B,

Zero

Cpn,

9/24/23

...

15,990

15,504

5107408.SQ.FTS.B,

Zero

Cpn,

9/24/23

...

5,688

5,511

5107548.SQ.FTS.B,

Zero

Cpn,

9/25/23

...

3,631

3,521

5107824.SQ.FTS.B,

Zero

Cpn,

9/25/23

...

1,696

1,645

5108512.SQ.FTS.B,

Zero

Cpn,

9/25/23

...

760

682

5108548.SQ.FTS.B,

Zero

Cpn,

9/25/23

...

1,727

1,611

5108632.SQ.FTS.B,

Zero

Cpn,

9/25/23

...

1,415

1,383

5108733.SQ.FTS.B,

Zero

Cpn,

9/25/23

...

1,790

1,732

5108777.SQ.FTS.B,

Zero

Cpn,

9/25/23

...

14,257

13,260

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5109216.SQ.FTS.B,

Zero

Cpn,

9/25/23

...

$

633

$

607

5109397.SQ.FTS.B,

Zero

Cpn,

9/25/23

...

7,407

7,185

5109707.SQ.FTS.B,

Zero

Cpn,

9/25/23

...

2,141

1,615

5109800.SQ.FTS.B,

Zero

Cpn,

9/25/23

...

1,997

1,940

5109882.SQ.FTS.B,

Zero

Cpn,

9/25/23

...

1,035

1,014

5110010.SQ.FTS.B,

Zero

Cpn,

9/25/23

...

4,530

4,374

5110090.SQ.FTS.B,

Zero

Cpn,

9/26/23

...

5,893

5,638

5110232.SQ.FTS.B,

Zero

Cpn,

9/26/23

...

4,917

4,548

5110354.SQ.FTS.B,

Zero

Cpn,

9/26/23

...

4,477

3,284

5110450.SQ.FTS.B,

Zero

Cpn,

9/26/23

...

4,839

3,936

5110550.SQ.FTS.B,

Zero

Cpn,

9/26/23

...

659

589

5110557.SQ.FTS.B,

Zero

Cpn,

9/26/23

...

1,290

1,255

5110621.SQ.FTS.B,

Zero

Cpn,

9/26/23

...

2,282

2,214

5110697.SQ.FTS.B,

Zero

Cpn,

9/26/23

...

392

377

5110720.SQ.FTS.B,

Zero

Cpn,

9/27/23

...

277

268

5110850.SQ.FTS.B,

Zero

Cpn,

9/27/23

...

15,224

14,821

5111317.SQ.FTS.B,

Zero

Cpn,

9/27/23

...

4,073

3,900

5111598.SQ.FTS.B,

Zero

Cpn,

9/28/23

...

2,516

2,396

5111827.SQ.FTS.B,

Zero

Cpn,

9/28/23

...

1,332

1,289

5111895.SQ.FTS.B,

Zero

Cpn,

9/28/23

...

7,881

7,673

5112592.SQ.FTS.B,

Zero

Cpn,

9/28/23

...

14,044

11,566

5112892.SQ.FTS.B,

Zero

Cpn,

9/28/23

...

4,862

4,685

5113533.SQ.FTS.B,

Zero

Cpn,

9/28/23

...

23,815

22,885

5114212.SQ.FTS.B,

Zero

Cpn,

9/28/23

...

10,515

10,241

5114487.SQ.FTS.B,

Zero

Cpn,

9/29/23

...

6,359

5,486

5114631.SQ.FTS.B,

Zero

Cpn,

9/29/23

...

2,038

1,299

5114657.SQ.FTS.B,

Zero

Cpn,

9/29/23

...

985

965

5114741.SQ.FTS.B,

Zero

Cpn,

9/29/23

...

1,230

1,172

5114780.SQ.FTS.B,

Zero

Cpn,

9/29/23

...

1,684

1,621

5114852.SQ.FTS.B,

Zero

Cpn,

9/29/23

...

5,456

5,289

5115054.SQ.FTS.B,

Zero

Cpn,

9/29/23

...

705

679

5115154.SQ.FTS.B,

Zero

Cpn,

9/29/23

...

1,139

1,109

5115240.SQ.FTS.B,

Zero

Cpn,

9/29/23

...

372

358

5115443.SQ.FTS.B,

Zero

Cpn,

9/29/23

...

2,241

2,162

5115552.SQ.FTS.B,

Zero

Cpn,

9/29/23

...

5,586

5,378

5115827.SQ.FTS.B,

Zero

Cpn,

9/29/23

...

34,869

33,785

5117169.SQ.FTS.B,

Zero

Cpn,

9/29/23

...

683

663

5117209.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

26,392

25,575

5117843.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

1,489

1,328

5117903.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

1,799

1,755

5118013.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

2,201

2,139

5118091.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

3,912

3,779

5118220.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

2,533

2,447

5118313.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

4,063

3,892

5118381.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

2,543

2,452

5118455.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

2,410

2,301

5118524.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

358

351

5118606.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

1,206

1,139

5118658.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

1,182

1,137

5118715.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

4,480

4,296

5118832.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

2,380

2,278

5118939.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

5,035

4,891

5119130.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

2,997

2,918

5119199.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

6,708

6,530

5119371.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

13,519

13,065

5119486.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

1,311

1,252

5119515.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

2,027

1,953

5119552.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

3,664

3,502

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

61

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5119620.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

$

372

$

353

5119639.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

1,967

1,919

5121615.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

11,755

11,399

5122286.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

2,305

2,243

5122398.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

5,431

5,307

5122748.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

19,192

18,402

5123240.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

225

213

5123250.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

3,017

2,146

5123349.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

7,733

7,495

5123870.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

5,417

5,221

5124029.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

21,678

20,882

5124656.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

2,251

2,088

5124749.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

9,516

9,252

5124879.SQ.FTS.B,

Zero

Cpn,

10/01/23

..

3,733

3,230

5125054.SQ.FTS.B,

Zero

Cpn,

10/01/23

..

38,160

36,995

5126975.SQ.FTS.B,

Zero

Cpn,

10/01/23

..

2,009

1,933

5127078.SQ.FTS.B,

Zero

Cpn,

10/01/23

..

3,435

3,353

5127386.SQ.FTS.B,

Zero

Cpn,

10/01/23

..

16,118

15,517

5127708.SQ.FTS.B,

Zero

Cpn,

10/02/23

..

2,955

2,786

5127775.SQ.FTS.B,

Zero

Cpn,

10/02/23

..

5,895

5,675

5127903.SQ.FTS.B,

Zero

Cpn,

10/02/23

..

1,523

1,413

5127927.SQ.FTS.B,

Zero

Cpn,

10/02/23

..

6,512

6,114

5128048.SQ.FTS.B,

Zero

Cpn,

10/02/23

..

3,308

3,036

5128099.SQ.FTS.B,

Zero

Cpn,

10/02/23

..

663

638

5128120.SQ.FTS.B,

Zero

Cpn,

10/02/23

..

12,307

11,781

5128373.SQ.FTS.B,

Zero

Cpn,

10/02/23

..

7,378

6,620

5128499.SQ.FTS.B,

Zero

Cpn,

10/03/23

..

2,381

2,091

5128536.SQ.FTS.B,

Zero

Cpn,

10/03/23

..

6,221

5,737

5128639.SQ.FTS.B,

Zero

Cpn,

10/03/23

..

3,743

3,604

5128713.SQ.FTS.B,

Zero

Cpn,

10/03/23

..

2,589

2,471

5128754.SQ.FTS.B,

Zero

Cpn,

10/03/23

..

942

907

5128774.SQ.FTS.B,

Zero

Cpn,

10/03/23

..

1,901

1,858

5128824.SQ.FTS.B,

Zero

Cpn,

10/03/23

..

4,502

4,244

5128988.SQ.FTS.B,

Zero

Cpn,

10/03/23

..

406

395

5128996.SQ.FTS.B,

Zero

Cpn,

10/03/23

..

420

402

5129021.SQ.FTS.B,

Zero

Cpn,

10/03/23

..

3,824

3,139

5129075.SQ.FTS.B,

Zero

Cpn,

10/03/23

..

13,089

12,804

5129879.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

7,145

6,842

5130239.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

649

625

5130410.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

4,613

4,471

5130538.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

2,193

1,422

5130578.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

2,508

2,154

5130616.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

6,451

6,271

5130847.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

1,524

1,286

5130975.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

1,425

1,376

5131020.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

16,695

16,095

5131435.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

2,008

1,944

5131522.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

2,651

2,205

5131548.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

2,434

2,337

5131585.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

401

349

5131623.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

38,243

37,339

5132660.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

4,074

3,978

5132801.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

1,509

1,384

5132859.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

43,251

41,575

5132890.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

30,031

25,832

5133569.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

13,521

12,774

5134063.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

977

939

5134114.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

9,680

9,364

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5134488.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

$

1,231

$

765

5134511.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

5,499

5,257

5134612.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

12,518

11,954

5135135.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

2,258

2,092

5135195.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

3,650

3,458

5135279.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

3,369

3,247

5135390.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

3,099

3,024

5135688.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

1,853

1,788

5135739.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

6,670

6,267

5135874.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

2,539

2,485

5135982.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

20,983

20,105

5136108.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

15,220

14,316

5136546.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

1,759

1,695

5136603.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

6,367

5,222

5136938.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

1,275

1,239

5137020.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

1,239

1,214

5137117.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

592

576

5137162.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

10,834

10,448

5138151.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

4,992

4,705

5138301.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

3,618

3,446

5138351.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

638

624

5138391.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

9,860

7,216

5138666.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

1,068

1,038

5138930.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

1,999

1,929

5139016.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

1,915

1,872

5139204.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

402

386

5139670.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

1,491

1,425

5141477.SQ.FTS.B,

Zero

Cpn,

10/07/23

..

13,819

12,673

5141886.SQ.FTS.B,

Zero

Cpn,

10/07/23

..

440

405

5141897.SQ.FTS.B,

Zero

Cpn,

10/07/23

..

18,722

18,073

5142732.SQ.FTS.B,

Zero

Cpn,

10/07/23

..

272

266

5142772.SQ.FTS.B,

Zero

Cpn,

10/07/23

..

18,408

17,426

5143399.SQ.FTS.B,

Zero

Cpn,

10/07/23

..

1,424

1,370

5143417.SQ.FTS.B,

Zero

Cpn,

10/07/23

..

3,937

3,817

5143559.SQ.FTS.B,

Zero

Cpn,

10/07/23

..

2,390

2,324

5143645.SQ.FTS.B,

Zero

Cpn,

10/07/23

..

1,808

1,647

5143918.SQ.FTS.B,

Zero

Cpn,

10/07/23

..

1,355

1,312

5143988.SQ.FTS.B,

Zero

Cpn,

10/07/23

..

10,456

10,231

5144732.SQ.FTS.B,

Zero

Cpn,

10/07/23

..

2,684

1,921

5144828.SQ.FTS.B,

Zero

Cpn,

10/08/23

..

1,683

1,630

5144906.SQ.FTS.B,

Zero

Cpn,

10/08/23

..

826

800

5144935.SQ.FTS.B,

Zero

Cpn,

10/08/23

..

1,754

1,694

5144986.SQ.FTS.B,

Zero

Cpn,

10/08/23

..

26,645

25,339

5146188.SQ.FTS.B,

Zero

Cpn,

10/08/23

..

7,746

7,024

5146412.SQ.FTS.B,

Zero

Cpn,

10/08/23

..

7,242

6,877

5146625.SQ.FTS.B,

Zero

Cpn,

10/08/23

..

11,384

10,801

5147066.SQ.FTS.B,

Zero

Cpn,

10/08/23

..

4,086

3,846

5147186.SQ.FTS.B,

Zero

Cpn,

10/08/23

..

11,720

11,028

5147479.SQ.FTS.B,

Zero

Cpn,

10/08/23

..

177

172

5147504.SQ.FTS.B,

Zero

Cpn,

10/08/23

..

9,835

7,000

5148096.SQ.FTS.B,

Zero

Cpn,

10/09/23

..

499

485

5148118.SQ.FTS.B,

Zero

Cpn,

10/09/23

..

5,579

5,450

5148253.SQ.FTS.B,

Zero

Cpn,

10/09/23

..

1,193

1,162

5148289.SQ.FTS.B,

Zero

Cpn,

10/09/23

..

403

394

5148304.SQ.FTS.B,

Zero

Cpn,

10/09/23

..

897

842

5148768.SQ.FTS.B,

Zero

Cpn,

10/09/23

..

3,324

3,174

5148849.SQ.FTS.B,

Zero

Cpn,

10/09/23

..

5,072

4,862

5148965.SQ.FTS.B,

Zero

Cpn,

10/10/23

..

4,726

4,586

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

62

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5149047.SQ.FTS.B,

Zero

Cpn,

10/10/23

..

$

2,097

$

1,955

5149073.SQ.FTS.B,

Zero

Cpn,

10/10/23

..

2,548

2,479

5149113.SQ.FTS.B,

Zero

Cpn,

10/10/23

..

5,623

5,401

5149203.SQ.FTS.B,

Zero

Cpn,

10/10/23

..

1,470

1,256

5149239.SQ.FTS.B,

Zero

Cpn,

10/10/23

..

375

362

5149249.SQ.FTS.B,

Zero

Cpn,

10/10/23

..

985

941

5149275.SQ.FTS.B,

Zero

Cpn,

10/10/23

..

2,383

2,295

5149321.SQ.FTS.B,

Zero

Cpn,

10/10/23

..

1,852

1,792

5149351.SQ.FTS.B,

Zero

Cpn,

10/10/23

..

4,904

4,767

5149474.SQ.FTS.B,

Zero

Cpn,

10/10/23

..

3,016

2,943

5149558.SQ.FTS.B,

Zero

Cpn,

10/10/23

..

1,491

1,131

5149759.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

14,690

11,696

5150218.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

3,673

3,576

5150426.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

571

478

5150433.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

4,852

3,027

5150612.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

7,573

7,343

5150849.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

4,522

4,252

5150993.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

8,418

8,139

5151211.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

1,215

890

5151309.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

1,741

1,706

5151716.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

1,106

1,084

5152039.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

3,783

2,682

5152077.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

1,715

1,640

5152146.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

3,032

2,929

5152235.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

1,574

1,539

5152277.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

17,218

16,580

5152550.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

5,427

5,193

5152653.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

845

778

5152669.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

51,558

49,413

5153442.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

985

893

5153499.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

839

821

5153658.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

5,659

5,418

5153823.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

4,365

4,256

5153965.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

2,667

2,556

5154060.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

2,045

1,906

5154099.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

9,148

8,769

5154965.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

14,446

12,829

5155306.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

5,506

5,355

5155563.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

1,042

1,018

5155596.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

3,798

3,551

5155680.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

921

817

5155798.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

7,708

7,459

5155995.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

1,375

1,337

5156107.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

384

366

5156145.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

2,059

1,996

5156338.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

4,547

4,012

5156483.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

1,410

1,379

5156573.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

1,047

1,029

5156676.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

1,284

636

5156699.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

1,010

987

5156761.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

8,788

8,444

5157000.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

5,119

4,603

5157032.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

2,662

2,389

5157098.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

1,180

1,145

5157119.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

16,278

15,643

5157382.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

1,762

1,714

5157474.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

1,047

1,021

5157531.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

6,127

6,000

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5158073.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

$

1,406

$

1,287

5158152.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

1,714

1,662

5158201.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

4,214

4,061

5158315.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

8,627

8,112

5158587.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

2,155

1,959

5158662.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

10,693

10,336

5158972.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

1,340

1,308

5159050.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

2,047

1,978

5159091.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

745

725

5159268.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

1,686

1,588

5159303.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

855

823

5159362.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

10,184

9,531

5159549.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

3,162

3,085

5159646.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

1,451

1,327

5159687.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

2,026

1,628

5159759.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

1,215

1,186

5159814.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

2,930

2,673

5159916.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

32,023

30,007

5160593.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

19,253

12,264

5162501.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

7,184

5,941

5162594.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

733

373

5162615.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

4,293

4,142

5162690.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

4,742

4,469

5162841.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

3,190

3,072

5162934.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

2,752

2,610

5163078.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

8,423

7,771

5163297.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

1,205

1,177

5163367.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

4,927

4,424

5163520.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

4,591

4,348

5163645.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

2,964

2,810

5163731.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

19,068

17,454

5164201.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

5,476

5,109

5164338.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

8,082

7,813

5164639.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

3,167

1,470

5164723.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

3,635

3,431

5164806.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

10,549

10,166

5165104.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

1,956

1,894

5165169.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

3,198

2,685

5165261.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

7,117

6,810

5165403.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

2,697

2,528

5165498.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

13,117

12,290

5165859.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

6,711

6,475

5166251.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

16,391

15,798

5166653.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

5,307

5,166

5166828.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

12,738

11,345

5167125.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

1,931

1,723

5167221.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

7,042

6,807

5167390.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

4,364

4,142

5167633.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

1,453

1,421

5167878.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

3,100

2,891

5168387.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

3,645

3,450

5168561.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

2,851

2,624

5168717.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

21,017

20,252

5169445.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

7,500

7,254

5169681.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

936

907

5169690.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

4,465

3,986

5169779.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

5,701

4,627

5169923.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

4,776

4,679

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

63

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5170136.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

$

1,218

$

1,189

5170196.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

2,444

2,368

5170226.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

719

689

5170254.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

877

812

5170305.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

2,273

2,179

5170346.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

732

718

5170413.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

3,355

3,266

5170711.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

19

19

5170808.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

3,049

2,976

5170889.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

12,820

11,653

5171275.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

1,456

1,427

5171412.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

16,915

16,255

5171609.SQ.FTS.B,

Zero

Cpn,

10/16/23

..

10,113

8,778

5171784.SQ.FTS.B,

Zero

Cpn,

10/16/23

..

12,264

11,435

5172064.SQ.FTS.B,

Zero

Cpn,

10/16/23

..

7,198

6,990

5172228.SQ.FTS.B,

Zero

Cpn,

10/16/23

..

10,915

10,425

5172460.SQ.FTS.B,

Zero

Cpn,

10/16/23

..

7,742

6,532

5172645.SQ.FTS.B,

Zero

Cpn,

10/17/23

..

2,691

2,603

5172707.SQ.FTS.B,

Zero

Cpn,

10/17/23

..

3,695

3,436

5172784.SQ.FTS.B,

Zero

Cpn,

10/17/23

..

6,210

4,675

5172882.SQ.FTS.B,

Zero

Cpn,

10/17/23

..

6,545

5,989

5173012.SQ.FTS.B,

Zero

Cpn,

10/17/23

..

4,314

4,183

5173129.SQ.FTS.B,

Zero

Cpn,

10/17/23

..

2,299

2,219

5173178.SQ.FTS.B,

Zero

Cpn,

10/17/23

..

1,685

1,626

5173222.SQ.FTS.B,

Zero

Cpn,

10/17/23

..

1,356

1,291

5173254.SQ.FTS.B,

Zero

Cpn,

10/17/23

..

1,819

1,760

5173363.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

3,376

3,240

5173613.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

1,822

1,675

5173851.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

3,960

3,690

5174290.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

4,190

4,023

5175229.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

4,331

4,177

5175595.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

2,819

2,701

5175736.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

4,456

4,328

5176019.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

14,415

12,892

5176463.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

3,421

3,327

5176625.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

6,014

5,805

5176825.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

1,237

1,171

5176931.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

5,141

4,998

5177172.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

811

775

5177217.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

554

533

5177249.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

3,136

3,021

5177315.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

2,121

2,068

5177437.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

1,755

1,689

5177531.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

42,648

41,298

5178912.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

5,499

4,423

5179092.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

10,190

8,563

5179367.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

655

621

5179416.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

2,857

2,433

5179583.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

2,401

2,214

5179704.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

4,980

4,789

5179915.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

1,518

1,320

5179923.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

3,795

3,535

5180054.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

2,974

2,862

5180260.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

5,176

5,004

5180954.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

657

643

5181201.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

7,048

6,133

5182173.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

931

764

5182237.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

711

676

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5182256.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

$

962

$

938

5182319.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

462

414

5182387.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

8,691

8,333

5182919.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

1,348

1,308

5183031.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

3,613

3,488

5183169.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

7,857

6,866

5183436.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

451

435

5183474.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

6,102

5,629

5183925.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

532

514

5183961.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

11,236

10,641

5184429.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

7,952

7,398

5184666.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

36,772

35,767

5185631.SQ.FTS.B,

Zero

Cpn,

10/20/23

..

497

481

5185761.SQ.FTS.B,

Zero

Cpn,

10/20/23

..

1,484

1,430

5185904.SQ.FTS.B,

Zero

Cpn,

10/20/23

..

30,166

29,020

5188723.SQ.FTS.B,

Zero

Cpn,

10/20/23

..

7,922

7,635

5189004.SQ.FTS.B,

Zero

Cpn,

10/20/23

..

6,845

6,466

5189463.SQ.FTS.B,

Zero

Cpn,

10/20/23

..

544

535

5189805.SQ.FTS.B,

Zero

Cpn,

10/20/23

..

4,142

3,830

5190060.SQ.FTS.B,

Zero

Cpn,

10/20/23

..

529

516

5190095.SQ.FTS.B,

Zero

Cpn,

10/20/23

..

21,397

16,856

5198069.SQ.FTS.B,

Zero

Cpn,

10/21/23

..

5,381

4,907

5198261.SQ.FTS.B,

Zero

Cpn,

10/21/23

..

24,213

23,404

5201244.SQ.FTS.B,

Zero

Cpn,

10/21/23

..

4,513

4,348

5201703.SQ.FTS.B,

Zero

Cpn,

10/21/23

..

13,840

12,359

5202511.SQ.FTS.B,

Zero

Cpn,

10/21/23

..

4,468

4,308

5202789.SQ.FTS.B,

Zero

Cpn,

10/21/23

..

1,194

1,157

5202867.SQ.FTS.B,

Zero

Cpn,

10/21/23

..

6,498

5,488

5203256.SQ.FTS.B,

Zero

Cpn,

10/21/23

..

929

870

5203352.SQ.FTS.B,

Zero

Cpn,

10/21/23

..

3,835

3,516

5203621.SQ.FTS.B,

Zero

Cpn,

10/21/23

..

18,764

18,215

5204037.SQ.FTS.B,

Zero

Cpn,

10/22/23

..

10,112

9,785

5204944.SQ.FTS.B,

Zero

Cpn,

10/22/23

..

4,220

4,057

5206213.SQ.FTS.B,

Zero

Cpn,

10/22/23

..

8,246

7,951

5206885.SQ.FTS.B,

Zero

Cpn,

10/22/23

..

1,775

1,663

5207329.SQ.FTS.B,

Zero

Cpn,

10/22/23

..

21,614

20,182

5208251.SQ.FTS.B,

Zero

Cpn,

10/22/23

..

11,385

11,173

5209767.SQ.FTS.B,

Zero

Cpn,

10/23/23

..

28,445

27,038

5210392.SQ.FTS.B,

Zero

Cpn,

10/23/23

..

2,795

2,394

5210456.SQ.FTS.B,

Zero

Cpn,

10/23/23

..

14,374

13,847

5210805.SQ.FTS.B,

Zero

Cpn,

10/24/23

..

784

574

5210817.SQ.FTS.B,

Zero

Cpn,

10/24/23

..

4,406

4,265

5210932.SQ.FTS.B,

Zero

Cpn,

10/24/23

..

105

103

5210974.SQ.FTS.B,

Zero

Cpn,

10/24/23

..

7,234

6,965

5211160.SQ.FTS.B,

Zero

Cpn,

10/24/23

..

7,998

7,673

5211901.SQ.FTS.B,

Zero

Cpn,

10/25/23

..

7,737

7,470

5212912.SQ.FTS.B,

Zero

Cpn,

10/25/23

..

1,665

1,613

5213071.SQ.FTS.B,

Zero

Cpn,

10/25/23

..

2,360

2,286

5213232.SQ.FTS.B,

Zero

Cpn,

10/25/23

..

30,376

27,809

5214521.SQ.FTS.B,

Zero

Cpn,

10/25/23

..

3,901

3,739

5214611.SQ.FTS.B,

Zero

Cpn,

10/25/23

..

20,144

18,513

5215215.SQ.FTS.B,

Zero

Cpn,

10/25/23

..

32,261

31,001

5216229.SQ.FTS.B,

Zero

Cpn,

10/26/23

..

4,763

4,508

5216390.SQ.FTS.B,

Zero

Cpn,

10/26/23

..

4,379

4,130

5216577.SQ.FTS.B,

Zero

Cpn,

10/26/23

..

2,371

2,260

5216716.SQ.FTS.B,

Zero

Cpn,

10/26/23

..

2,600

2,438

5216970.SQ.FTS.B,

Zero

Cpn,

10/26/23

..

8,124

7,865

5218337.SQ.FTS.B,

Zero

Cpn,

10/26/23

..

6,810

6,588

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

64

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5218835.SQ.FTS.B,

Zero

Cpn,

10/26/23

..

$

746

$

714

5218892.SQ.FTS.B,

Zero

Cpn,

10/26/23

..

2,460

2,402

5219088.SQ.FTS.B,

Zero

Cpn,

10/26/23

..

3,605

3,392

5219197.SQ.FTS.B,

Zero

Cpn,

10/26/23

..

3,579

3,504

5219971.SQ.FTS.B,

Zero

Cpn,

10/26/23

..

18,027

17,556

5220601.SQ.FTS.B,

Zero

Cpn,

10/26/23

..

1,419

1,078

5220660.SQ.FTS.B,

Zero

Cpn,

10/26/23

..

3,650

2,575

5220766.SQ.FTS.B,

Zero

Cpn,

10/27/23

..

11,325

11,034

5221904.SQ.FTS.B,

Zero

Cpn,

10/27/23

..

13,250

12,948

5223514.SQ.FTS.B,

Zero

Cpn,

10/27/23

..

44,004

43,026

5230018.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

66,575

63,881

5233596.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

9,695

8,877

5233838.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

1,167

1,104

5233859.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

1,142

1,047

5233885.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

3,036

2,913

5234027.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

868

833

5234147.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

889

835

5234163.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

4,298

4,073

5234342.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

2,911

2,789

5234479.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

25,006

23,985

5235135.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

6,046

5,274

5235390.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

7,050

6,760

5235948.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

7,828

7,477

5236671.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

2,832

2,610

5236829.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

1,056

969

5236894.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

1,013

978

5236986.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

1,691

1,531

5237060.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

1,196

1,150

5237132.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

19,333

18,107

5238065.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

1,633

1,530

5238108.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

3,949

3,741

5238337.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

855

814

5238450.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

2,197

1,959

5238530.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

1,633

1,573

5238592.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

1,994

1,887

5238654.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

37,159

35,643

5239973.SQ.FTS.B,

Zero

Cpn,

10/30/23

..

5,974

4,466

5240070.SQ.FTS.B,

Zero

Cpn,

10/30/23

..

16,410

15,652

5240329.SQ.FTS.B,

Zero

Cpn,

10/30/23

..

10,457

9,899

5240507.SQ.FTS.B,

Zero

Cpn,

10/30/23

..

1,237

1,189

5240539.SQ.FTS.B,

Zero

Cpn,

10/30/23

..

15,388

14,421

5240832.SQ.FTS.B,

Zero

Cpn,

11/01/23

..

4,091

2,996

5240884.SQ.FTS.B,

Zero

Cpn,

11/01/23

..

1,194

1,147

5240903.SQ.FTS.B,

Zero

Cpn,

11/01/23

..

31,507

27,496

5241436.SQ.FTS.B,

Zero

Cpn,

11/01/23

..

4,141

3,746

5241501.SQ.FTS.B,

Zero

Cpn,

11/01/23

..

11,323

10,863

5242288.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

14,838

13,725

5243291.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

523

307

5243311.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

4,047

3,884

5243505.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

25,362

24,027

5244171.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

6,343

5,999

5244341.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

7,732

7,332

5244551.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

14,930

14,336

5244826.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

1,602

1,536

5244873.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

2,716

2,561

5244949.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

4,066

3,645

5245048.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

9,307

8,819

5245444.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

1,619

1,484

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5245483.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

$

6,029

$

5,797

5245623.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

5,324

4,773

5245743.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

3,545

3,013

5245808.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

1,171

1,064

5245819.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

6,402

6,131

5245981.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

1,412

1,360

5246037.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

2,523

2,283

5246088.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

12,945

12,347

5246369.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

1,198

1,096

5246408.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

20,980

20,040

5246647.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

737

697

5246823.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

3,725

3,566

5246950.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

4,283

4,109

5247166.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

2,097

1,823

5247305.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

1,392

1,294

5247375.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

2,148

2,009

5247490.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

2,639

2,477

5247583.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

19,583

18,786

5248816.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

12,817

12,121

5249216.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

5,269

3,546

5249324.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

5,819

5,567

5249584.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

1,590

1,530

5249657.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

1,592

1,509

5249745.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

1,677

989

5249972.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

2,453

2,355

5250110.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

2,011

1,839

5250245.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

1,333

875

5250267.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

1,943

1,873

5250335.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

7,113

6,744

5250581.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

2,873

2,741

5250706.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

2,396

2,236

5250769.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

1,742

1,027

5250837.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

5,232

5,018

5251204.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

1,985

1,634

5251268.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

8,517

6,285

5251421.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

6,072

5,781

5251630.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

10,422

9,934

5252057.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

923

889

5252100.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

15,261

14,591

5253161.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

8,899

8,412

5254391.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

2,519

2,416

5254509.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

735

639

5254554.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

5,092

4,429

5254769.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

3,688

3,492

5254861.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

2,103

2,012

5254958.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

437

413

5254967.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

1,102

1,025

5255017.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

11,931

9,509

5255302.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

19,141

16,473

5255859.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

5,228

5,019

5256054.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

1,381

1,260

5256103.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

2,942

2,699

5256256.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

10,531

10,101

5256463.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

51,572

49,459

5262299.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

3,325

3,159

5262459.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

782

680

5262479.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

3,329

2,975

5262667.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

6,883

6,598

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

65

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5263130.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

$

2,360

$

2,251

5263778.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

2,482

2,297

5263936.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

1,215

1,114

5264019.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

4,634

4,441

5264225.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

16,420

15,343

5264865.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

17,540

16,718

5265530.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

12,841

12,310

5265964.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

1,761

1,330

5266179.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

2,628

2,488

5266300.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

4,396

4,209

5266447.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

796

741

5266476.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

5,075

4,190

5266712.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

3,760

3,604

5266837.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

4,380

3,930

5267052.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

5,979

5,740

5267097.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

1,463

1,362

5267222.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

2,016

1,926

5267353.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

15,804

14,432

5268523.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

2,972

2,742

5268782.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

627

581

5270673.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

1,722

1,504

5270697.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

1,677

1,115

5270731.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

6,002

5,679

5271029.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

10,560

9,739

5271451.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

7,773

7,236

5271648.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

723

702

5271723.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

1,277

1,243

5271811.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

38,808

36,769

5272547.SQ.FTS.B,

Zero

Cpn,

11/07/23

..

1,619

1,483

5272583.SQ.FTS.B,

Zero

Cpn,

11/07/23

..

647

626

5272605.SQ.FTS.B,

Zero

Cpn,

11/07/23

..

7,714

7,392

5272717.SQ.FTS.B,

Zero

Cpn,

11/07/23

..

9,303

8,728

5272860.SQ.FTS.B,

Zero

Cpn,

11/07/23

..

9,488

9,097

5272999.SQ.FTS.B,

Zero

Cpn,

11/07/23

..

2,981

2,851

5273063.SQ.FTS.B,

Zero

Cpn,

11/07/23

..

2,590

2,474

5273115.SQ.FTS.B,

Zero

Cpn,

11/07/23

..

2,028

1,943

5273148.SQ.FTS.B,

Zero

Cpn,

11/07/23

..

831

788

5273170.SQ.FTS.B,

Zero

Cpn,

11/07/23

..

6,409

6,125

5273299.SQ.FTS.B,

Zero

Cpn,

11/08/23

..

4,790

4,599

5273435.SQ.FTS.B,

Zero

Cpn,

11/08/23

..

549

532

5273457.SQ.FTS.B,

Zero

Cpn,

11/08/23

..

2,432

2,305

5273506.SQ.FTS.B,

Zero

Cpn,

11/08/23

..

1,382

1,210

5273550.SQ.FTS.B,

Zero

Cpn,

11/08/23

..

2,119

2,032

5273592.SQ.FTS.B,

Zero

Cpn,

11/08/23

..

22,715

16,914

5273907.SQ.FTS.B,

Zero

Cpn,

11/08/23

..

3,716

3,541

5273956.SQ.FTS.B,

Zero

Cpn,

11/08/23

..

1,857

1,758

5274238.SQ.FTS.B,

Zero

Cpn,

11/09/23

..

2,627

2,411

5274549.SQ.FTS.B,

Zero

Cpn,

11/09/23

..

2,491

2,379

5274774.SQ.FTS.B,

Zero

Cpn,

11/09/23

..

8,303

7,734

5275702.SQ.FTS.B,

Zero

Cpn,

11/09/23

..

14,071

13,485

5276202.SQ.FTS.B,

Zero

Cpn,

11/09/23

..

3,417

3,300

5276495.SQ.FTS.B,

Zero

Cpn,

11/09/23

..

17,848

17,107

5277129.SQ.FTS.B,

Zero

Cpn,

11/09/23

..

61,430

58,536

5278464.SQ.FTS.B,

Zero

Cpn,

11/09/23

..

977

878

5278481.SQ.FTS.B,

Zero

Cpn,

11/09/23

..

19,154

18,109

5278584.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

2,627

2,483

5278668.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

1,985

1,879

5278751.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

19,062

18,275

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5279561.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

$

17,765

$

16,620

5279929.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

5,443

4,737

5280031.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

5,236

4,519

5280113.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

3,643

3,418

5280203.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

24,614

23,517

5280908.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

4,395

4,228

5281083.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

886

829

5281103.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

7,736

7,316

5281340.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

51,758

49,321

5282087.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

1,863

1,803

5282191.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

4,593

4,342

5282337.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

3,411

2,975

5282429.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

15,774

14,942

5282941.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

710

650

5282993.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

7,789

7,380

5283200.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

1,440

1,351

5283233.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

2,069

1,477

5283279.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

2,872

2,753

5283364.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

15,042

14,406

5283739.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

883

839

5283768.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

1,852

1,721

5283836.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

9,821

9,298

5284093.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

3,306

3,167

5284196.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

39,398

37,727

5284894.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

912

870

5284935.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

12,468

11,936

5286790.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

35,287

33,793

5287980.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

31,116

29,772

5288940.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

2,256

2,153

5289116.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

1,685

1,618

5289157.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

2,018

1,830

5289211.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

2,334

2,033

5289282.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

3,657

3,354

5289420.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

943

886

5289490.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

3,012

2,883

5289566.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

20,915

20,031

5290085.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

42,375

40,358

5290407.SQ.FTS.B,

Zero

Cpn,

11/13/23

..

36,523

34,319

5291747.SQ.FTS.B,

Zero

Cpn,

11/13/23

..

14,002

12,379

5292058.SQ.FTS.B,

Zero

Cpn,

11/13/23

..

4,211

4,033

5292223.SQ.FTS.B,

Zero

Cpn,

11/13/23

..

31,363

30,210

5293323.SQ.FTS.B,

Zero

Cpn,

11/13/23

..

3,218

3,077

5293397.SQ.FTS.B,

Zero

Cpn,

11/13/23

..

5,477

5,216

5293537.SQ.FTS.B,

Zero

Cpn,

11/13/23

..

412

399

5293580.SQ.FTS.B,

Zero

Cpn,

11/14/23

..

1,853

1,793

5293634.SQ.FTS.B,

Zero

Cpn,

11/14/23

..

11,632

10,991

5293762.SQ.FTS.B,

Zero

Cpn,

11/14/23

..

2,125

1,949

5293793.SQ.FTS.B,

Zero

Cpn,

11/14/23

..

1,975

1,488

5293817.SQ.FTS.B,

Zero

Cpn,

11/14/23

..

659

616

5293843.SQ.FTS.B,

Zero

Cpn,

11/14/23

..

3,372

3,225

5293906.SQ.FTS.B,

Zero

Cpn,

11/14/23

..

2,526

2,417

5293954.SQ.FTS.B,

Zero

Cpn,

11/14/23

..

1,498

953

5293978.SQ.FTS.B,

Zero

Cpn,

11/14/23

..

3,614

3,340

5294024.SQ.FTS.B,

Zero

Cpn,

11/14/23

..

7,592

7,257

5294152.SQ.FTS.B,

Zero

Cpn,

11/14/23

..

1,527

1,422

5294186.SQ.FTS.B,

Zero

Cpn,

11/14/23

..

584

559

5294211.SQ.FTS.B,

Zero

Cpn,

11/14/23

..

782

621

5294218.SQ.FTS.B,

Zero

Cpn,

11/14/23

..

2,981

2,863

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

66

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5294259.SQ.FTS.B,

Zero

Cpn,

11/14/23

..

$

2,472

$

2,244

5294291.SQ.FTS.B,

Zero

Cpn,

11/15/23

..

1,833

1,733

5294325.SQ.FTS.B,

Zero

Cpn,

11/15/23

..

2,048

1,964

5294371.SQ.FTS.B,

Zero

Cpn,

11/15/23

..

1,581

1,194

5294394.SQ.FTS.B,

Zero

Cpn,

11/15/23

..

1,785

1,684

5294428.SQ.FTS.B,

Zero

Cpn,

11/15/23

..

2,950

2,826

5294499.SQ.FTS.B,

Zero

Cpn,

11/15/23

..

1,015

972

5294520.SQ.FTS.B,

Zero

Cpn,

11/15/23

..

1,396

1,223

5294555.SQ.FTS.B,

Zero

Cpn,

11/15/23

..

1,906

1,821

5294594.SQ.FTS.B,

Zero

Cpn,

11/15/23

..

8,246

7,939

5294761.SQ.FTS.B,

Zero

Cpn,

11/15/23

..

2,215

2,121

5294783.SQ.FTS.B,

Zero

Cpn,

11/15/23

..

756

714

5294806.SQ.FTS.B,

Zero

Cpn,

11/15/23

..

1,715

1,634

5294832.SQ.FTS.B,

Zero

Cpn,

11/15/23

..

3,425

3,280

5294935.SQ.FTS.B,

Zero

Cpn,

11/15/23

..

19,618

16,761

5295493.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

10,239

9,685

5295941.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

270

262

5295964.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

6,896

6,425

5296270.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

826

775

5296287.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

529

455

5296418.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

5,771

5,429

5296773.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

8,600

8,259

5296889.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

19,207

18,339

5297152.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

15,688

15,015

5297319.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

10,257

9,646

5297485.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

32,379

29,930

5297777.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

744

716

5297796.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

11,186

10,718

5298147.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

8,828

8,428

5298323.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

1,352

1,243

5298348.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

2,277

1,725

5298416.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

5,554

5,293

5298534.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

2,732

2,610

5298619.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

3,078

2,958

5298763.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

528

508

5298792.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

441

412

5298797.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

23,292

21,172

5299348.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

11,462

10,977

5299477.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

38,949

37,474

5303078.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

5,860

5,612

5303339.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

10,318

9,879

5303652.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

1,838

1,726

5303747.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

2,016

1,918

5303833.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

4,390

4,218

5304001.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

7,483

7,004

5304184.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

1,510

1,383

5304212.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

6,581

6,301

5304352.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

33,307

31,596

5305068.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

77,744

63,175

5306515.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

521

494

5306708.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

7,805

7,150

5306850.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

880

850

5306886.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

12,026

11,408

5307159.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

27,965

26,728

5307302.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

21,601

20,439

5308578.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

12,770

11,517

5310096.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

1,371

1,285

5310244.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

2,086

2,008

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5310466.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

$

13,155

$

12,555

5311000.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

3,417

3,239

5311204.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

3,412

3,266

5311305.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

13,700

12,900

5311817.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

1,468

1,397

5311892.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

14,872

14,292

5312358.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

1,731

1,656

5312375.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

1,226

1,162

5312396.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

48,317

46,264

5313405.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

3,427

3,128

5313517.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

15,770

15,132

5313761.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

1,700

1,625

5313783.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

2,548

2,287

5313809.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

4,662

4,438

5313860.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

9,435

9,032

5314000.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

1,244

1,138

5314024.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

26,669

25,397

5315957.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

13,989

13,385

5316177.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

2,680

2,084

5316217.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

4,606

4,423

5316290.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

1,731

1,210

5316321.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

19,571

18,789

5316786.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

11,819

11,245

5317077.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

1,602

1,502

5317113.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

821

784

5317165.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

1,781

1,695

5317222.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

2,412

2,082

5317276.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

6,866

6,473

5317459.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

1,807

1,731

5317473.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

5,698

5,440

5317547.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

1,084

917

5317552.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

627

594

5317564.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

9,193

8,798

5317739.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

3,858

3,691

5317783.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

2,828

2,473

5317861.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

955

912

5317914.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

53,315

49,880

5318924.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

1,175

1,012

5318936.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

1,006

921

5318956.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

10,083

8,453

5319189.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

2,661

2,538

5319219.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

3,515

3,371

5319278.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

48,102

44,990

5319578.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

4,794

4,487

5319873.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

504

485

5319903.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

5,471

5,205

5320036.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

2,666

2,302

5320103.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

2,761

2,606

5320215.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

1,561

1,493

5320303.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

7,162

6,724

5320657.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

4,170

3,766

5321063.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

3,537

3,353

5321198.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

952

834

5321227.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

2,717

2,567

5321309.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

5,417

5,136

5321514.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

5,773

5,335

5321626.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

13,136

12,054

5321872.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

4,782

3,648

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

67

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5322005.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

$

4,032

$

3,858

5322108.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

24,209

23,081

5322693.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

2,198

2,124

5322785.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

4,784

4,598

5322993.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

19,828

17,499

5323375.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

2,526

2,341

5323494.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

4,189

3,938

5323562.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

13,608

12,582

5323875.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

19,605

18,759

5324157.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

762

738

5324194.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

6,888

6,582

5324247.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

1,903

1,838

5324270.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

3,079

2,962

5324332.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

5,326

5,000

5324392.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

897

864

5324402.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

20,643

19,755

5324608.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

1,663

1,593

5324628.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

15,930

15,291

5324810.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

2,610

2,423

5324834.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

1,399

1,295

5324868.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

2,970

2,846

5324902.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

411

389

5324933.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

6,213

5,946

5325004.SQ.FTS.B,

Zero

Cpn,

11/22/23

..

1,379

1,322

5325026.SQ.FTS.B,

Zero

Cpn,

11/22/23

..

28,630

27,394

5325344.SQ.FTS.B,

Zero

Cpn,

11/22/23

..

25,231

24,009

5325598.SQ.FTS.B,

Zero

Cpn,

11/22/23

..

6,658

6,221

5325652.SQ.FTS.B,

Zero

Cpn,

11/22/23

..

727

696

5325663.SQ.FTS.B,

Zero

Cpn,

11/22/23

..

15,976

15,095

5326326.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

16,477

15,678

5327274.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

2,300

1,867

5327310.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

3,153

3,016

5327404.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

6,745

6,506

5327591.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

2,854

2,731

5328385.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

583

544

5328390.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

10,644

10,104

5328822.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

4,018

3,570

5328895.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

4,086

3,595

5328996.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

32,777

30,684

5329527.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

2,153

2,056

5329537.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

1,067

1,009

5329558.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

3,813

3,647

5329613.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

2,062

1,917

5329650.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

2,720

2,199

5329689.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

1,869

1,780

5329745.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

2,577

2,466

5329785.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

3,341

3,080

5329845.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

3,598

3,335

5329914.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

9,166

8,783

5330101.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

16,621

15,562

5330339.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

10,614

10,053

5330587.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

16,496

15,835

5330920.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

559

536

5330931.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

3,222

3,101

5331031.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

5,583

5,328

5331076.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

8,104

7,730

5331262.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

9,359

7,672

5331520.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

2,370

2,268

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5331703.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

$

559

$

529

5331869.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

1,918

1,851

5332045.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

4,850

4,680

5332348.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

346

332

5332358.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

999

962

5332396.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

3,821

3,662

5332507.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

5,478

5,243

5333388.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

560

541

5333402.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

4,973

4,503

5333485.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

8,746

8,248

5333660.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

1,522

1,457

5333711.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

1,651

1,534

5333764.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

18,488

17,590

5334148.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

2,926

2,788

5334317.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

18,228

17,067

5334631.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

2,540

2,360

5334651.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

4,073

3,847

5334684.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

10,405

8,956

5334819.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

6,648

6,005

5334913.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

17,723

17,017

5335191.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

2,064

1,992

5335266.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

5,693

5,446

5335545.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

5,938

5,665

5335663.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

7,135

6,823

5335902.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

1,023

983

5335927.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

1,589

1,528

5335959.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

1,431

1,380

5336044.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

3,273

3,131

5336121.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

17,160

16,561

5337179.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

2,279

2,174

5337228.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

1,602

1,508

5337300.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

5,167

4,573

5337396.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

997

688

5337419.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

6,852

6,252

5337520.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

5,388

5,102

5337907.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

14,814

13,750

5338149.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

7,943

7,600

5338242.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

12,668

11,967

5338362.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

4,221

3,266

5338409.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

2,970

2,850

5338463.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

656

633

5338479.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

7,472

7,145

5338645.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

41,329

39,524

5339624.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

1,405

1,297

5339649.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

10,939

10,173

5355621.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

3,041

2,917

5356876.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

15,806

15,031

5357777.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

4,102

3,825

5358050.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

1,116

1,073

5359729.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

9,614

8,290

5360531.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

8,055

7,657

5360976.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

23,914

22,191

5362532.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

1,499

1,446

5362638.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

10,986

10,545

5363013.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

2,586

2,256

5363132.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

7,848

5,830

5364035.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

838

788

5364036.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

5,265

4,904

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

68

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5364229.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

$

2,174

$

2,030

5364347.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

27,923

26,598

5365023.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

4,765

4,578

5365228.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

1,097

955

5365290.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

3,548

3,375

5365373.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

1,616

1,531

5365456.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

1,646

1,574

5365503.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

2,178

2,094

5365572.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

537

495

5365624.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

625

577

5365655.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

1,863

1,718

5365733.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

25,158

24,049

5367342.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

6,606

6,093

5367848.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

1,329

1,279

5367945.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

408

355

5367948.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

11,086

10,600

5368635.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

1,873

1,792

5368873.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

3,761

3,591

5369747.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

9,116

6,786

5372948.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

9,766

8,894

5374023.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

3,610

3,410

5374200.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

7,532

7,146

5374795.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

2,144

2,052

5375058.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

23,182

21,986

5376650.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

9,894

9,169

5376779.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

11,214

10,673

5377900.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

667

605

5378080.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

1,589

1,391

5378269.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

469

445

5378305.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

8,897

7,562

5378445.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

903

871

5378563.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

3,557

3,378

5378646.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

19,528

18,669

5379689.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

11,410

10,847

5380160.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

3,798

3,361

5380325.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

2,841

2,646

5380422.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

13,438

12,148

5380773.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

2,471

2,362

5380841.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

701

678

5380878.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

524

505

5380949.SQ.FTS.B,

Zero

Cpn,

11/28/23

..

19,199

18,247

5381629.SQ.FTS.B,

Zero

Cpn,

11/28/23

..

1,947

1,734

5381659.SQ.FTS.B,

Zero

Cpn,

11/29/23

..

1,646

1,540

5381740.SQ.FTS.B,

Zero

Cpn,

11/29/23

..

1,238

1,049

5381781.SQ.FTS.B,

Zero

Cpn,

11/29/23

..

31,471

28,569

5382504.SQ.FTS.B,

Zero

Cpn,

11/29/23

..

7,727

7,161

5382702.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

834

805

5382729.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

26

26

5382735.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

997

944

5382769.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

2,061

1,953

5382818.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

665

625

5382840.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

2,789

2,566

5382931.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

8,533

8,097

5383183.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

7,112

6,790

5383355.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

3,644

3,507

5383475.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

3,913

3,736

5383597.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

3,827

3,658

5384221.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

772

710

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5384622.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

$

3,574

$

3,417

5385779.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

2,689

2,539

5389795.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

3,998

3,820

5390912.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

2,389

2,304

5391539.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

8,319

7,854

5392945.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

1,742

1,665

5393053.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

707

676

5394107.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

883

813

5394215.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

772

689

5394261.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

8,769

8,382

5395454.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

4,018

3,739

5395836.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

2,154

2,031

5396013.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

11,967

11,151

5397209.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

1,460

1,059

5397320.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

5,169

4,770

5397721.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

2,313

2,208

5397942.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

1,694

1,390

5398036.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

17,661

16,664

5399417.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

4,643

4,438

5399941.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

1,640

1,568

5400087.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

1,594

1,484

5400388.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

4,678

4,421

5400527.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

2,773

2,647

5400698.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

7,534

7,157

5402007.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

7,139

6,815

5403119.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

28,284

26,445

5409423.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

1,769

1,574

5409682.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

1,351

1,279

5409822.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

8,241

7,789

5410281.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

6,992

6,674

5410725.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

1,746

1,662

5410879.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

1,075

990

5410951.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

10,027

9,582

5411337.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

2,066

1,923

5411468.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

4,679

4,272

5411995.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

1,327

1,267

5412099.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

53,995

50,031

5413985.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

1,327

1,251

5414027.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

2,471

2,341

5414116.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

20,585

16,124

5414769.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

2,349

1,688

5414814.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

688

651

5414882.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

3,074

2,948

5415051.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

1,645

1,574

5415170.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

2,089

1,949

5415265.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

12,653

11,981

5415646.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

2,931

2,714

5415748.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

2,648

2,541

5415806.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

3,660

3,498

5439847.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

11,353

10,701

5440384.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

1,470

1,394

5440469.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

1,113

1,073

5440559.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

13,096

12,349

5441604.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

3,153

3,008

5441976.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

142

137

5442126.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

5,166

4,936

5444165.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

630

600

5445521.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

14,333

13,541

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

69

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5447439.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

$

5,780

$

5,329

5447778.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

1,129

1,088

5447975.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

18,446

17,368

5449131.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

7,287

6,916

5449628.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

4,206

3,990

5449929.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

3,813

3,642

5450279.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

3,209

3,055

5450582.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

8,212

7,845

5451221.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

15,978

15,284

5451965.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

1,244

1,182

5452124.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

3,954

3,164

5452446.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

1,707

1,635

5452490.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

11,581

10,963

5453182.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

11,199

10,695

5453933.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

7,747

7,402

5454362.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

10,704

10,253

5454751.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

9,098

8,545

5455396.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

27,504

25,511

5456422.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

30,450

28,423

5461681.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

1,417

1,317

5462223.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

418

394

5462471.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

2,195

2,047

5462662.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

2,063

1,970

5462926.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

3,148

2,477

5463259.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

43,832

41,938

5467335.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

9,971

9,506

5468196.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

9,429

8,996

5469009.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

1,585

1,478

5469109.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

2,791

2,531

5469287.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

1,458

1,392

5469627.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

682

632

5469800.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

1,089

1,042

5469881.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

877

779

5469934.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

5,433

5,190

5470507.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

4,155

3,950

5470945.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

675

651

5470980.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

5,513

5,127

5471311.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

2,808

2,688

5471400.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

16,324

15,592

5472329.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

993

870

5472389.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

2,967

2,256

5472580.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

2,960

2,632

5472690.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

2,886

2,768

5472735.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

7,596

7,339

5472852.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

2,941

2,808

5472889.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

26,381

25,199

5473225.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

951

813

5473249.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

5,666

5,338

5473313.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

777

573

5473326.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

10,784

10,237

5473464.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

15,564

14,466

5473698.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

5,024

4,575

5473753.SQ.FTS.B,

Zero

Cpn,

12/05/23

..

901

860

5473776.SQ.FTS.B,

Zero

Cpn,

12/05/23

..

5,097

4,541

5473846.SQ.FTS.B,

Zero

Cpn,

12/05/23

..

18,645

17,580

5474055.SQ.FTS.B,

Zero

Cpn,

12/05/23

..

4,873

4,067

5474105.SQ.FTS.B,

Zero

Cpn,

12/05/23

..

11,001

10,370

5474240.SQ.FTS.B,

Zero

Cpn,

12/05/23

..

1,808

1,730

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5474257.SQ.FTS.B,

Zero

Cpn,

12/05/23

..

$

913

$

853

5474266.SQ.FTS.B,

Zero

Cpn,

12/05/23

..

1,892

1,768

5474296.SQ.FTS.B,

Zero

Cpn,

12/05/23

..

11,749

11,219

5474482.SQ.FTS.B,

Zero

Cpn,

12/05/23

..

5,046

4,598

5474549.SQ.FTS.B,

Zero

Cpn,

12/05/23

..

22,422

21,343

5477266.SQ.FTS.B,

Zero

Cpn,

12/06/23

..

4,902

4,623

5478344.SQ.FTS.B,

Zero

Cpn,

12/06/23

..

402

377

5478860.SQ.FTS.B,

Zero

Cpn,

12/06/23

..

4,561

4,317

5481590.SQ.FTS.B,

Zero

Cpn,

12/06/23

..

1,690

1,219

5482174.SQ.FTS.B,

Zero

Cpn,

12/06/23

..

576

554

5493057.SQ.FTS.B,

Zero

Cpn,

12/06/23

..

4,567

4,373

5493323.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

2,526

2,412

5493589.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

3,158

3,035

5493820.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

19,272

18,335

5494666.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

2,065

1,965

5494899.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

628

598

5494965.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

14,013

12,785

5498961.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

3,910

3,346

5499415.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

2,058

1,836

5499564.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

10,995

10,437

5500383.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

6,362

5,937

5500693.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

1,937

1,859

5500907.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

13,172

12,577

5501649.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

358

347

5501672.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

1,215

1,099

5501757.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

6,261

5,851

5502011.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

3,209

3,072

5502082.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

6,159

5,885

5502449.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

14,467

13,526

5502908.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

12,860

9,599

5503306.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

3,835

3,638

5503569.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

2,168

1,801

5503576.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

3,866

3,695

5503785.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

2,020

1,903

5503801.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

24,195

22,629

5505266.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

854

785

5505276.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

14,616

13,665

5505885.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

3,716

3,549

5505977.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

1,874

1,790

5506044.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

844

810

5506061.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

5,835

5,600

5506476.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

538

505

5506689.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

6,004

5,357

5507022.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

1,246

1,112

5507044.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

1,167

1,107

5507161.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

10,751

9,012

5507615.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

4,846

4,419

5508109.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

11,284

10,731

5510904.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

7,063

6,551

5513560.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

943

909

5513925.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

2,359

2,253

5514199.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

3,434

3,096

5514955.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

793

578

5515041.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

11,880

11,165

5516038.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

3,551

3,350

5516456.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

4,753

4,532

5516808.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

9,481

8,704

5517245.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

17,009

16,032

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

70

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5517791.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

$

4,023

$

3,795

5517871.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

4,845

4,625

5518060.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

4,713

4,501

5518183.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

4,531

4,255

5518301.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

41,301

39,052

5519332.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

11,252

10,681

5519675.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

8,395

7,835

5519869.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

2,230

2,106

5519892.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

7,050

6,360

5520000.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

1,629

1,396

5520039.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

2,940

2,840

5520148.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

5,397

5,005

5528060.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

5,638

5,114

5528209.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

66,091

61,722

5531222.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

40,158

35,554

5532204.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

3,839

3,638

5532315.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

1,147

1,068

5532355.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

1,903

1,696

5532399.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

2,537

2,355

5532469.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

17,297

16,619

5533309.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

140

136

5533324.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

20,411

19,071

5533598.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

1,301

1,249

5533686.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

7,279

5,463

5533911.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

13,762

12,989

5534127.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

4,129

3,895

5534202.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

927

838

5534237.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

7,837

6,593

5534360.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

80,376

76,773

5537098.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

17,490

16,692

5537587.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

3,574

3,384

5537711.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

2,695

2,573

5537757.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

42,548

39,241

5538851.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

1,737

1,629

5538888.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

7,016

6,734

5539081.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

660

614

5539121.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

1,915

1,823

5539177.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

6,225

5,942

5539336.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

4,859

3,971

5539432.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

10,539

8,802

5539687.SQ.FTS.B,

Zero

Cpn,

12/11/23

..

2,048

1,897

5539731.SQ.FTS.B,

Zero

Cpn,

12/11/23

..

9,110

8,138

5539833.SQ.FTS.B,

Zero

Cpn,

12/11/23

..

9,222

8,720

5539992.SQ.FTS.B,

Zero

Cpn,

12/11/23

..

1,295

1,246

5540021.SQ.FTS.B,

Zero

Cpn,

12/11/23

..

18,188

17,002

5540317.SQ.FTS.B,

Zero

Cpn,

12/11/23

..

6,878

6,560

5540425.SQ.FTS.B,

Zero

Cpn,

12/11/23

..

1,083

1,044

5540468.SQ.FTS.B,

Zero

Cpn,

12/11/23

..

1,893

1,670

5540497.SQ.FTS.B,

Zero

Cpn,

12/11/23

..

4,657

4,150

5540573.SQ.FTS.B,

Zero

Cpn,

12/12/23

..

2,972

2,775

5540632.SQ.FTS.B,

Zero

Cpn,

12/12/23

..

247

238

5540665.SQ.FTS.B,

Zero

Cpn,

12/12/23

..

1,870

1,753

5540713.SQ.FTS.B,

Zero

Cpn,

12/12/23

..

5,213

4,944

5540806.SQ.FTS.B,

Zero

Cpn,

12/12/23

..

4,492

3,790

5540876.SQ.FTS.B,

Zero

Cpn,

12/12/23

..

3,413

3,257

5540940.SQ.FTS.B,

Zero

Cpn,

12/12/23

..

5,499

5,247

5541034.SQ.FTS.B,

Zero

Cpn,

12/12/23

..

18,719

17,866

5541400.SQ.FTS.B,

Zero

Cpn,

12/12/23

..

13,605

12,619

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5542247.SQ.FTS.B,

Zero

Cpn,

12/13/23

..

$

7,286

$

6,491

5543336.SQ.FTS.B,

Zero

Cpn,

12/13/23

..

10,387

9,911

5544952.SQ.FTS.B,

Zero

Cpn,

12/13/23

..

5,174

4,936

5545176.SQ.FTS.B,

Zero

Cpn,

12/13/23

..

2,781

2,608

5545368.SQ.FTS.B,

Zero

Cpn,

12/13/23

..

742

618

5545396.SQ.FTS.B,

Zero

Cpn,

12/13/23

..

3,835

3,620

5545520.SQ.FTS.B,

Zero

Cpn,

12/13/23

..

1,836

1,702

5545636.SQ.FTS.B,

Zero

Cpn,

12/13/23

..

55,374

52,189

5547759.SQ.FTS.B,

Zero

Cpn,

12/13/23

..

3,720

3,541

5547933.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

969

940

5548003.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

2,032

1,891

5548034.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

31,200

29,872

5549974.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

1,511

1,366

5550144.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

3,914

3,735

5550397.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

27,191

23,952

5551649.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

7,437

7,012

5551905.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

11,436

9,682

5552199.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

2,350

2,011

5552246.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

1,101

1,028

5552288.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

4,111

3,894

5552417.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

6,057

5,566

5552463.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

1,406

1,338

5552520.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

7,606

7,258

5552696.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

13,285

12,179

5553038.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

41,855

38,793

5553976.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

704

657

5553980.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

743

638

5553986.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

3,861

3,565

5554066.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

865

774

5554082.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

2,701

2,547

5554184.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

14,125

13,193

5554476.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

6,277

5,914

5554620.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

2,325

2,240

5554734.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

928

879

5554751.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

833

800

5554806.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

1,946

1,719

5554848.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

67,126

64,049

5557327.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

1,898

1,809

5557400.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

4,367

4,160

5557475.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

7,188

6,848

5557572.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

1,498

1,089

5557596.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

28,413

26,818

5557933.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

5,390

5,003

5558010.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

19,733

18,232

5558380.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

9,003

8,214

5558599.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

916

666

5558623.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

3,550

3,084

5558721.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

32,402

31,021

5559328.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

1,036

952

5559342.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

773

736

5559362.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

16,048

14,638

5561345.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

3,279

3,091

5561385.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

898

863

5561402.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

2,842

2,710

5561498.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

11,770

10,903

5561681.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

430

403

5561713.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

3,053

2,881

5561773.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

1,296

1,187

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

71

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5561804.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

$

4,522

$

4,312

5561941.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

2,738

2,168

5562075.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

2,232

2,086

5562124.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

3,673

3,481

5562232.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

3,711

3,515

5562335.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

5,591

5,204

5562515.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

21,830

20,727

5562845.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

1,476

1,282

5562848.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

1,566

1,508

5562881.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

31,270

29,079

5563288.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

21,972

20,809

5563687.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

4,686

4,325

5563737.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

7,194

6,646

5563818.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

1,665

1,548

5563833.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

12,212

11,405

5564034.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

3,715

3,276

5564095.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

3,474

3,291

5564134.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

1,461

1,386

5564150.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

7,348

6,990

5564220.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

5,522

5,278

5564314.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

6,516

6,206

5564406.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

1,093

1,034

5564439.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

7,764

7,402

5564520.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

3,921

3,721

5564544.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

2,821

2,320

5564601.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

4,573

4,246

5564657.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

488

470

5564661.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

6,420

5,865

5564701.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

22,313

21,060

5565042.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

3,500

3,350

5565100.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

5,940

5,635

5565213.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

11,214

10,704

5565348.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

9,204

7,960

5565597.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

25,200

24,025

5565902.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

22,289

21,187

5566138.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

5,518

4,772

5566189.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

2,873

2,700

5566245.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

1,651

1,560

5566291.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

9,037

8,355

5566925.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

2,879

2,749

5567009.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

917

816

5567027.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

6,107

5,808

5567122.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

679

655

5567156.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

11,087

10,570

5567317.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

14,175

13,450

5567445.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

5,134

4,756

5567496.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

14,129

13,328

5567717.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

6,168

5,922

5567837.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

2,514

2,237

5567851.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

8,030

7,634

5567945.SQ.FTS.B,

Zero

Cpn,

12/18/23

..

5,546

5,287

5568005.SQ.FTS.B,

Zero

Cpn,

12/18/23

..

3,842

3,688

5568047.SQ.FTS.B,

Zero

Cpn,

12/18/23

..

51,493

48,290

5568644.SQ.FTS.B,

Zero

Cpn,

12/18/23

..

2,652

2,528

5568680.SQ.FTS.B,

Zero

Cpn,

12/18/23

..

4,433

4,100

5568729.SQ.FTS.B,

Zero

Cpn,

12/19/23

..

20,508

19,685

5569073.SQ.FTS.B,

Zero

Cpn,

12/19/23

..

2,209

2,018

5569110.SQ.FTS.B,

Zero

Cpn,

12/19/23

..

2,612

2,154

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5569145.SQ.FTS.B,

Zero

Cpn,

12/19/23

..

$

3,093

$

2,860

5569176.SQ.FTS.B,

Zero

Cpn,

12/19/23

..

2,996

2,772

5569214.SQ.FTS.B,

Zero

Cpn,

12/19/23

..

1,845

1,716

5569241.SQ.FTS.B,

Zero

Cpn,

12/19/23

..

2,018

1,926

5569267.SQ.FTS.B,

Zero

Cpn,

12/19/23

..

1,824

1,709

5569307.SQ.FTS.B,

Zero

Cpn,

12/19/23

..

9,976

9,122

5569681.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

6,839

5,820

5569970.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

2,252

2,081

5570043.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

1,035

964

5570091.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

849

791

5570151.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

4,469

3,896

5570334.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

5,879

4,857

5570489.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

8,538

8,140

5570675.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

14,290

13,350

5571102.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

15,132

14,420

5571589.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

3,384

3,130

5571676.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

4,862

4,138

5571770.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

2,981

2,851

5571841.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

20,450

17,492

5572501.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

1,829

1,708

5572643.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

1,836

1,759

5572723.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

666

594

5572730.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

4,606

4,395

5572809.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

14,989

12,907

5573076.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

1,529

1,403

5573129.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

3,181

2,707

5573187.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

3,539

3,298

5573220.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

1,011

953

5573235.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

1,244

1,189

5573260.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

31,561

29,755

5574013.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

3,568

3,249

5574105.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

6,857

6,536

5574209.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

2,342

2,139

5574243.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

12,489

11,772

5574353.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

24,593

23,258

5574654.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

208

202

5574663.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

23,572

21,550

5575001.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

3,246

3,094

5575033.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

2,943

2,517

5575109.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

3,468

3,095

5575180.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

752

723

5575190.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

2,917

2,759

5575246.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

1,989

1,892

5575281.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

744

680

5575284.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

2,211

2,082

5575334.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

643

614

5575348.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

9,704

8,298

5575490.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

3,329

3,186

5575576.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

600

570

5575612.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

8,375

7,983

5575733.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

17,562

16,739

5575988.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

2,132

1,987

5576017.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

4,430

4,196

5576112.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

6,636

6,292

5576224.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

4,055

3,836

5576279.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

7,792

7,226

5576331.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

791

762

5576345.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

10,621

10,099

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

72

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5576429.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

$

7,494

$

6,459

5576497.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

1,537

1,454

5576519.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

11,792

10,551

5576667.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

3,714

3,503

5576717.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

3,026

2,795

5576766.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

2,699

2,495

5576787.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

3,180

3,022

5576855.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

1,749

1,657

5576922.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

1,578

1,428

5577487.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

8,289

7,900

5577616.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

2,601

2,418

5577668.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

2,059

1,924

5577701.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

3,780

3,495

5577756.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

4,887

4,581

5577810.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

11,842

11,298

5578025.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

1,843

1,739

5578059.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

18,654

17,261

5578304.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

7,534

7,128

5578390.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

10,109

8,921

5578525.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

966

929

5578593.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

2,886

2,387

5578665.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

1,753

1,653

5578686.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

5,121

4,851

5578773.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

1,167

1,122

5578794.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

11,656

10,658

5578946.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

5,480

5,215

5578999.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

5,560

5,151

5579072.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

1,322

1,262

5579076.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

2,364

2,254

5579102.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

12,644

11,985

5579296.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

8,600

8,152

5581147.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

3,114

2,945

5581208.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

1,979

1,861

5581228.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

3,340

2,847

5581276.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

1,908

1,632

5581310.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

1,864

1,652

5581329.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

9,243

8,757

5581424.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

2,299

2,174

5581461.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

4,429

4,210

5581525.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

2,150

2,020

5581546.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

2,447

2,328

5581596.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

572

544

5581612.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

3,406

3,204

5581687.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

1,731

1,626

5581736.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

19,899

18,707

5582582.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

637

614

5582611.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

7,264

6,766

5582765.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

9,521

9,017

5582911.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

11,144

8,702

5583073.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

1,000

902

5583096.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

3,915

3,546

5583166.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

11,473

10,714

5583410.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

8,763

8,082

5583544.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

2,048

1,701

5583586.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

528

501

5583608.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

3,523

3,348

5583646.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

4,919

4,685

5583720.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

5,833

5,096

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5583843.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

$

1,923

$

1,832

5583874.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

4,361

4,156

5583944.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

50,892

48,219

5584492.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

17,668

16,634

5584654.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

1,858

1,771

5584675.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

6,320

5,986

5584721.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

10,255

9,619

5584916.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

5,160

4,887

5585058.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

1,983

1,834

5585081.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

677

631

5585092.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

2,740

2,615

5585140.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

5,480

5,194

5585270.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

840

775

5585302.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

1,753

1,677

5585323.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

10,975

10,474

5585622.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

3,534

3,378

5585690.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

6,187

5,907

5585785.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

3,419

3,329

5585838.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

5,790

5,425

5585911.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

14,173

13,163

5586155.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

3,640

3,506

5586222.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

845

791

5586233.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

192

154

5586264.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

23,358

21,974

5586587.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

1,936

1,797

5586619.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

27,542

26,115

5586926.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

1,486

1,359

5586941.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

1,921

1,811

5586955.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

1,498

1,390

5586989.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

795

727

5587002.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

1,851

1,715

5587027.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

27,849

26,082

5587459.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

19,463

18,243

5587721.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

5,175

4,855

5587794.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

4,462

4,220

5587848.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

1,020

952

5587868.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

2,160

2,002

5587887.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

12,413

11,539

5588007.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

24,288

22,931

5588100.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

4,287

3,989

5588118.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

1,740

1,667

5588120.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

9,897

9,208

5588164.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

4,181

3,962

5588202.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

23,213

21,717

5588372.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

11,406

10,496

5588451.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

28,930

27,019

5588652.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

1,802

1,697

5588660.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

5,176

4,790

5588695.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

3,051

2,827

5588715.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

711

658

5588722.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

3,300

3,072

5588749.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

12,211

11,488

5588819.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

2,028

1,892

5588829.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

25,620

24,043

5588978.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

12,106

11,306

5589071.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

645

602

5589079.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

1,338

1,253

5589092.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

1,114

1,027

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

73

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5589101.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

$

5,444

$

5,098

5589145.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

8,150

7,752

5589223.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

3,087

2,982

5589236.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

1,308

1,207

5589244.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

1,945

1,836

5589263.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

4,142

3,870

5589302.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

2,494

2,318

5589316.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

7,231

6,744

5589356.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

2,762

2,521

5589416.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

1,192

1,114

5593205.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

4,042

3,751

5593273.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

5,095

4,774

5593339.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

2,140

2,015

5593384.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

3,962

3,774

5593433.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

2,514

2,355

5593473.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

4,273

3,991

5593497.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

4,390

4,103

5593551.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

3,578

3,415

5593600.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

2,573

2,408

5593634.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

988

947

5593642.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

2,608

2,491

5593657.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

8,714

8,179

5593730.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

2,132

2,003

5593739.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

4,318

4,094

5593800.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

2,910

2,724

5593829.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

11,396

10,895

5593963.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

6,922

6,342

5594118.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

2,155

2,018

5594146.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

8,460

7,976

5594287.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

7,182

6,809

5594392.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

3,270

2,951

5594507.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

11,463

10,778

5594596.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

7,202

6,828

5594641.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

4,911

4,583

5594679.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

5,315

4,895

5594710.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

7,457

6,995

5594763.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

6,898

6,403

5594852.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

27,125

25,484

5595111.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

3,189

2,959

5595126.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

22,203

20,829

5595288.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

7,726

7,156

5595353.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

2,181

2,047

5595368.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

1,761

1,645

5595402.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

2,422

2,248

5595419.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

3,421

3,236

5595445.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

1,390

1,280

5595469.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

3,079

2,884

5595568.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

595

564

5596566.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

613

569

5596609.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

577

536

5596626.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

6,247

5,827

5596745.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

3,142

2,993

5596827.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

22,529

21,178

5597207.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

4,143

3,928

5597324.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

2,277

2,137

5597386.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

9,538

8,915

5597532.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

1,466

1,389

5597578.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

1,675

1,554

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5597616.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

$

23,845

$

22,306

5597914.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

8,389

7,839

5598085.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

2,437

2,306

5598106.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

3,118

2,894

5598138.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

19,522

18,147

5598446.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

741

700

5598467.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

1,304

1,225

5598511.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

7,091

6,563

5598647.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

3,171

2,964

5598702.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

38,732

35,895

5599644.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

13,714

12,522

5599955.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

2,157

2,008

5600022.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

3,429

3,253

5600114.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

19,695

18,489

5600386.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

5,953

5,494

5600442.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

2,003

1,838

5600473.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

1,142

1,062

5600485.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

825

766

5600497.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

877

820

5600512.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

10,340

9,724

5600640.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

2,640

2,444

5600673.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

2,224

2,061

5608065.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

10,294

9,615

5608198.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

10,511

9,758

5608328.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

1,937

1,850

5608367.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

10,530

9,983

5608555.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

3,640

3,238

5608834.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

1,835

1,712

5608901.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

654

614

5608942.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

10,198

9,666

5609624.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

7,144

6,788

5609858.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

564

527

5609899.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

6,111

5,838

5610113.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

16,981

16,198

5610607.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

4,235

3,957

5610718.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

1,268

1,184

5610735.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

5,273

4,956

5610840.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

8,427

7,962

5610991.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

51,238

48,886

5611660.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

935

846

5611670.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

17,761

16,547

5611991.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

6,555

6,185

5612089.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

24,763

23,260

5612415.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

3,031

2,861

5612458.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

6,980

6,512

5612539.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

2,729

2,551

5612626.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

20,298

19,032

5612891.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

3,791

3,526

5613077.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

18,746

17,434

5613299.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

4,965

4,696

5613388.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

3,112

2,905

5613461.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

11,557

10,768

5613740.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

11,771

11,316

5614120.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

4,461

4,229

5614470.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

2,622

2,431

5614574.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

4,453

4,185

5614706.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

8,886

8,323

5614893.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

2,924

2,737

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

74

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5614974.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

$

15,166

$

14,225

5615251.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

4,612

4,375

5615388.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

4,709

4,410

5615445.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

1,244

1,180

5615484.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

10,571

9,737

5615718.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

11,993

11,406

5615965.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

1,382

1,293

5615969.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

3,189

2,968

5616014.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

74,901

71,021

5617214.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

4,895

4,639

5617387.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

1,486

1,385

5617474.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

21,906

20,877

5617717.SQ.FTS.B,

Zero

Cpn,

1/02/24

...

8,560

8,159

5617879.SQ.FTS.B,

Zero

Cpn,

1/02/24

...

12,464

11,680

5618113.SQ.FTS.B,

Zero

Cpn,

1/02/24

...

4,007

3,743

5618186.SQ.FTS.B,

Zero

Cpn,

1/02/24

...

12,207

11,310

5618387.SQ.FTS.B,

Zero

Cpn,

1/02/24

...

2,880

2,682

5618445.SQ.FTS.B,

Zero

Cpn,

1/02/24

...

1,467

1,359

5618464.SQ.FTS.B,

Zero

Cpn,

1/02/24

...

1,801

1,649

5618512.SQ.FTS.B,

Zero

Cpn,

1/02/24

...

1,382

1,304

5618540.SQ.FTS.B,

Zero

Cpn,

1/02/24

...

4,308

4,034

5618598.SQ.FTS.B,

Zero

Cpn,

1/03/24

...

3,490

3,259

5618670.SQ.FTS.B,

Zero

Cpn,

1/03/24

...

996

946

5618686.SQ.FTS.B,

Zero

Cpn,

1/03/24

...

8,000

7,636

5618834.SQ.FTS.B,

Zero

Cpn,

1/03/24

...

2,838

2,641

5618906.SQ.FTS.B,

Zero

Cpn,

1/03/24

...

2,617

2,427

5618964.SQ.FTS.B,

Zero

Cpn,

1/03/24

...

36,976

34,515

5619565.SQ.FTS.B,

Zero

Cpn,

1/04/24

...

3,895

3,667

5619646.SQ.FTS.B,

Zero

Cpn,

1/04/24

...

1,082

1,015

5619674.SQ.FTS.B,

Zero

Cpn,

1/04/24

...

5,855

5,474

5619792.SQ.FTS.B,

Zero

Cpn,

1/04/24

...

5,097

4,862

5619877.SQ.FTS.B,

Zero

Cpn,

1/04/24

...

2,119

1,971

5619929.SQ.FTS.B,

Zero

Cpn,

1/04/24

...

1,026

969

5619952.SQ.FTS.B,

Zero

Cpn,

1/04/24

...

6,568

6,267

5620047.SQ.FTS.B,

Zero

Cpn,

1/04/24

...

3,744

3,524

5620157.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

4,825

4,522

5620474.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

1,536

1,418

5620546.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

5,285

5,007

5620959.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

6,776

6,307

5621721.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

1,546

1,442

5621776.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

4,088

3,935

5621982.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

4,542

4,333

5622101.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

16,011

15,025

5622466.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

1,371

1,270

5622514.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

66,623

62,447

5624462.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

521

488

5624488.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

5,486

5,052

5624747.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

3,243

3,047

5624912.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

1,510

1,414

5624960.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

1,594

1,460

5624998.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

3,310

3,061

5625032.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

3,199

3,006

5625103.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

611

583

5625128.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

5,605

5,388

5625215.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

13,089

12,275

5625406.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

7,137

6,806

5625583.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

3,315

3,161

5625690.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

4,031

3,782

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5625769.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

$

1,775

$

1,692

5625933.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

5,276

5,032

5626304.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

12,334

11,376

5627037.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

912

868

5627076.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

18,611

17,405

5627452.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

10,612

10,036

5627720.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

1,747

1,634

5627773.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

4,679

4,367

5627835.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

4,720

4,565

5627953.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

858

800

5627990.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

2,086

1,953

5628045.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

5,489

5,238

5628141.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

272

251

5628145.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

11,834

11,094

5628320.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

13,426

12,564

5628531.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

4,482

4,242

5628595.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

886

837

5628623.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

2,093

1,982

5628657.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

12,742

11,709

5628952.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

9,308

8,680

5629146.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

1,824

1,697

5629212.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

2,071

1,987

5629304.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

6,081

5,711

5629401.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

4,622

4,406

5629496.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

6,830

6,417

5629602.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

1,992

1,892

5629638.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

1,816

1,664

5629649.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

2,117

1,972

5629699.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

5,904

5,611

5629799.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

16,603

15,313

5630026.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

8,414

7,857

5630143.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

1,403

1,329

5630169.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

5,076

4,757

5630271.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

10,886

10,204

5630388.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

2,551

2,406

5640772.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

2,820

2,655

5640933.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

1,558

1,436

5640986.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

1,531

1,418

5641001.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

14,614

13,621

5641323.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

940

881

5641331.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

1,297

1,203

5641349.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

1,457

1,366

5641411.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

7,257

6,792

5641670.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

9,682

9,233

5642051.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

5,558

5,410

5642332.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

798

742

5642399.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

1,769

1,676

5642591.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

1,823

1,703

5643141.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

9,239

8,600

5644031.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

4,035

3,807

5644232.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

3,639

3,412

5644358.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

5,054

4,746

5644571.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

14,362

13,391

5645118.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

5,986

5,603

5645289.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

29,565

28,009

5645830.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

4,162

3,895

5645875.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

46,036

43,247

5646774.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

2,495

2,362

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

75

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5646826.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

$

3,515

$

3,278

5646868.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

19,057

17,897

5647340.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

31,942

30,474

5647798.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

4,125

3,863

5647877.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

1,305

1,224

5647893.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

7,461

6,990

5648027.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

5,945

5,671

5648259.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

22,516

21,149

5648895.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

5,482

5,228

5649048.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

3,407

3,208

5649190.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

1,105

1,034

5649248.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

2,984

2,842

5649390.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

2,361

2,199

5649510.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

6,314

5,922

5650000.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

4,096

3,965

5650899.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

2,228

2,078

5651094.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

5,416

5,157

5651306.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

799

742

5651368.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

1,949

1,843

5651439.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

7,861

7,497

5651679.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

12,472

11,905

5652010.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

6,399

6,095

5652169.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

12,499

11,504

5652510.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

2,756

2,588

5652628.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

7,456

7,114

5652863.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

7,096

6,731

5653069.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

29,663

27,782

5653846.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

1,598

1,490

5653865.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

16,670

15,378

5654131.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

10,784

10,355

5654285.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

5,553

5,197

5654378.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

4,694

4,366

5654462.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

5,072

4,703

5654531.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

1,692

1,583

5654580.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

10,749

9,918

5654694.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

5,298

5,053

5654769.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

11,878

11,128

5655026.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

1,065

1,016

5655069.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

527

487

5655071.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

1,619

1,496

5655108.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

13,523

12,705

5655423.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

1,630

1,525

5655484.SQ.FTS.B,

Zero

Cpn,

1/09/24

...

1,951

1,864

5655533.SQ.FTS.B,

Zero

Cpn,

1/09/24

...

6,585

6,166

5655613.SQ.FTS.B,

Zero

Cpn,

1/09/24

...

11,174

10,661

5655757.SQ.FTS.B,

Zero

Cpn,

1/09/24

...

5,302

4,934

5655838.SQ.FTS.B,

Zero

Cpn,

1/09/24

...

1,036

961

5655862.SQ.FTS.B,

Zero

Cpn,

1/09/24

...

21,305

20,321

5656220.SQ.FTS.B,

Zero

Cpn,

1/09/24

...

12,108

11,305

5656415.SQ.FTS.B,

Zero

Cpn,

1/10/24

...

1,667

1,561

5656446.SQ.FTS.B,

Zero

Cpn,

1/10/24

...

12,460

11,879

5656671.SQ.FTS.B,

Zero

Cpn,

1/10/24

...

3,159

2,939

5656727.SQ.FTS.B,

Zero

Cpn,

1/10/24

...

943

892

5656751.SQ.FTS.B,

Zero

Cpn,

1/10/24

...

21,981

20,419

5657814.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

2,082

1,942

5657955.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

1,077

1,012

5658122.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

3,324

3,082

5658415.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

19,010

18,130

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5660575.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

$

5,288

$

5,166

5660879.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

2,750

2,552

5661027.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

1,298

1,211

5661064.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

8,070

7,504

5661472.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

6,075

5,694

5661709.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

3,215

3,006

5661832.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

1,256

1,174

5661843.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

3,625

3,394

5662034.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

1,043

982

5662072.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

1,211

1,150

5662108.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

7,155

6,637

5662396.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

3,180

2,926

5662504.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

7,684

7,328

5662703.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

4,512

4,245

5662785.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

1,127

1,009

5662826.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

4,147

3,881

5662985.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

3,713

3,451

5663150.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

54,993

51,272

5664680.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

7,407

6,747

5664895.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

1,563

1,451

5664925.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

17,851

16,719

5665385.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

5,831

5,524

5665540.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

6,331

5,921

5665625.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

24,665

23,100

5667116.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

3,112

2,967

5667327.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

31,016

28,939

5668285.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

528

492

5668326.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

26,382

24,985

5669316.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

28,471

26,535

5670001.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

2,949

2,770

5670096.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

10,596

10,105

5670351.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

3,130

2,942

5670473.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

11,707

10,847

5670774.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

1,544

1,478

5670788.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

1,305

1,217

5670816.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

4,397

4,093

5670931.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

3,783

3,590

5671118.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

2,693

2,501

5671233.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

4,193

3,999

5671377.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

23,838

22,284

5671815.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

1,342

1,248

5671822.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

944

908

5671837.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

2,250

2,107

5671902.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

29,997

28,108

5672513.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

1,659

1,559

5672551.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

1,374

1,290

5672626.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

5,763

5,605

5672811.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

982

925

5672848.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

3,964

3,717

5672955.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

10,194

9,540

5673215.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

28,947

27,452

5674006.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

3,891

3,650

5674122.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

15,220

14,244

5674680.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

13,470

12,561

5675281.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

1,604

1,507

5675355.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

15,119

14,118

5675870.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

6,379

5,972

5675962.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

5,706

5,340

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

76

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5676060.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

$

9,571

$

8,966

5676161.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

3,150

2,945

5676191.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

1,747

1,659

5676208.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

3,862

3,615

5676300.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

1,700

1,594

5676317.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

7,390

6,930

5676498.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

1,472

1,384

5676537.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

1,115

1,041

5676560.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

1,844

1,746

5676682.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

17,989

17,150

5676948.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

7,681

7,202

5677130.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

43,227

40,020

5678110.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

28,858

27,012

5678542.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

13,940

13,053

5688927.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

2,938

2,701

5689016.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

33,198

31,000

5689638.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

7,584

7,227

5689858.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

3,029

2,836

5690006.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

5,384

5,056

5690223.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

7,351

7,071

5690508.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

17,556

16,318

5692439.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

2,139

1,975

5692483.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

10,935

10,429

5692954.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

7,469

6,915

5693304.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

18,697

17,320

5693934.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

1,616

1,501

5693986.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

2,924

2,737

5694071.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

20,076

18,622

5694413.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

5,144

4,804

5694516.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

60,982

57,781

5695416.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

4,162

3,933

5695482.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

3,938

3,683

5695517.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

3,991

3,702

5695606.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

1,825

1,740

5695635.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

2,922

2,759

5695692.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

8,475

8,030

5695841.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

21,155

19,804

5696198.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

2,412

2,291

5696279.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

940

869

5696304.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

1,911

1,815

5696331.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

42,490

40,241

5697421.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

3,508

3,360

5697891.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

1,932

1,829

5698147.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

7,355

6,858

5698530.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

3,382

3,201

5698677.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

1,600

1,557

5698722.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

7,996

7,459

5698929.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

1,785

1,715

5699002.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

14,787

14,099

5699507.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

25,699

24,329

5700056.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

16,026

15,435

5700359.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

4,356

4,151

5700419.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

3,349

3,191

5700542.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

1,626

1,507

5700598.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

7,623

7,138

5700867.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

4,164

3,921

5701010.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

32,287

30,225

5701495.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

10,477

9,811

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5701642.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

$

5,260

$

5,015

5701725.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

3,367

3,167

5701792.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

971

909

5701810.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

6,265

5,974

5701898.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

24,916

23,756

5702295.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

7,090

6,654

5702361.SQ.FTS.B,

Zero

Cpn,

1/16/24

...

4,075

3,884

5702429.SQ.FTS.B,

Zero

Cpn,

1/16/24

...

11,734

11,184

5702548.SQ.FTS.B,

Zero

Cpn,

1/16/24

...

10,787

10,096

5702657.SQ.FTS.B,

Zero

Cpn,

1/16/24

...

2,225

2,119

5702684.SQ.FTS.B,

Zero

Cpn,

1/16/24

...

4,512

4,346

5702722.SQ.FTS.B,

Zero

Cpn,

1/16/24

...

575

546

5702741.SQ.FTS.B,

Zero

Cpn,

1/16/24

...

5,666

5,301

5702801.SQ.FTS.B,

Zero

Cpn,

1/16/24

...

1,241

1,161

5702814.SQ.FTS.B,

Zero

Cpn,

1/16/24

...

7,320

7,015

5702915.SQ.FTS.B,

Zero

Cpn,

1/16/24

...

4,151

3,852

5702969.SQ.FTS.B,

Zero

Cpn,

1/16/24

...

2,226

2,095

5702995.SQ.FTS.B,

Zero

Cpn,

1/16/24

...

5,421

5,033

5703058.SQ.FTS.B,

Zero

Cpn,

1/17/24

...

2,659

2,517

5703097.SQ.FTS.B,

Zero

Cpn,

1/17/24

...

6,374

6,076

5703159.SQ.FTS.B,

Zero

Cpn,

1/17/24

...

1,627

1,518

5703176.SQ.FTS.B,

Zero

Cpn,

1/17/24

...

3,254

3,046

5703225.SQ.FTS.B,

Zero

Cpn,

1/17/24

...

11,000

10,490

5703343.SQ.FTS.B,

Zero

Cpn,

1/17/24

...

1,807

1,745

5703362.SQ.FTS.B,

Zero

Cpn,

1/17/24

...

25,561

23,978

5703732.SQ.FTS.B,

Zero

Cpn,

1/17/24

...

1,668

1,540

5703756.SQ.FTS.B,

Zero

Cpn,

1/17/24

...

3,212

3,061

5704113.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

4,123

3,941

5704394.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

6,555

6,184

5704978.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

876

827

5705050.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

3,549

3,324

5705420.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

5,966

5,593

5706053.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

10,694

9,977

5706614.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

7,315

6,791

5706980.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

3,267

3,068

5707060.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

1,890

1,793

5707091.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

2,265

2,108

5707166.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

5,848

5,573

5707356.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

31,294

29,299

5708168.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

25,595

24,021

5709256.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

6,094

5,691

5709366.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

2,111

2,022

5709383.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

12,950

12,076

5709694.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

3,943

3,686

5709787.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

2,135

1,991

5709864.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

2,091

1,929

5709941.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

1,097

1,045

5709979.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

1,234

1,183

5710009.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

2,712

2,565

5710056.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

1,323

1,221

5710093.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

3,812

3,634

5710157.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

18,857

17,620

5710725.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

4,937

4,609

5710875.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

1,649

1,561

5710902.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

3,010

2,825

5710944.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

913

849

5710982.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

6,046

5,764

5711203.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

28,377

26,830

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

77

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5712422.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

$

2,980

$

2,787

5712540.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

6,126

5,840

5712802.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

1,059

988

5712858.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

4,922

4,608

5712977.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

4,111

3,851

5713089.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

3,280

3,127

5713166.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

3,529

3,353

5713253.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

13,062

12,225

5713585.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

28,591

26,769

5714497.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

1,771

1,659

5714537.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

11,152

10,394

5714794.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

47,307

44,712

5715827.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

1,362

1,274

5715830.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

2,198

2,047

5715876.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

1,704

1,607

5715932.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

6,443

6,019

5716030.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

8,597

8,157

5716111.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

3,667

3,473

5716129.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

2,192

2,052

5716150.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

17,530

16,602

5716269.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

679

653

5716326.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

22,430

20,937

5716854.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

29,963

28,057

5718687.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

2,231

2,089

5718733.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

1,451

1,351

5718757.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

2,205

2,103

5718816.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

3,507

3,343

5718884.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

38,453

36,659

5719624.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

7,434

7,251

5719744.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

3,548

3,322

5719802.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

2,147

2,054

5719839.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

22,601

21,108

5720127.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

1,561

1,451

5720138.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

11,208

10,611

5720214.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

4,577

4,274

5720322.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

4,517

4,302

5720412.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

4,746

4,447

5720456.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

19,332

18,143

5720730.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

11,263

10,787

5720918.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

6,971

6,529

5720997.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

4,831

4,495

5721068.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

823

784

5721086.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

6,042

5,672

5721180.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

8,526

7,984

5721277.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

3,157

2,956

5721372.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

3,533

3,322

5721454.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

8,033

7,525

5721603.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

4,504

4,211

5721654.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

13,263

12,642

5726404.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

3,542

3,374

5726481.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

36,043

34,122

5726889.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

14,654

13,705

5727222.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

983

923

5727267.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

4,874

4,646

5727427.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

2,576

2,439

5727565.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

2,323

2,172

5727772.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

1,563

1,472

5727834.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

2,831

2,651

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5727993.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

$

1,669

$

1,562

5728049.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

2,708

2,569

5728086.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

4,252

3,952

5728351.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

23,397

21,954

5728764.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

5,613

5,310

5728808.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

11,626

11,082

5729015.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

2,492

2,333

5729051.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

880

812

5729059.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

4,005

3,818

5729103.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

10,080

9,437

5729235.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

26,533

25,118

5729587.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

2,091

2,013

5729636.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

13,580

12,940

5729791.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

5,525

5,302

5729911.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

791

740

5729918.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

1,039

975

5729929.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

5,584

5,240

5730028.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

5,653

5,293

5730107.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

1,123

1,060

5730123.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

2,819

2,635

5730145.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

2,635

2,522

5730184.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

4,128

3,865

5730232.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

10,186

9,469

5730308.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

674

631

5730320.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

30,335

28,403

5730596.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

1,741

1,644

5730607.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

4,685

4,470

5730698.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

4,386

4,199

5730724.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

1,389

1,308

5730733.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

5,248

4,853

5730771.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

7,420

6,932

5730868.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

4,106

3,791

5730952.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

910

839

5730964.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

5,346

5,041

5731007.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

4,304

4,028

5731120.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

20,298

19,344

5731547.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

8,324

7,794

5731722.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

3,169

2,927

5731798.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

1,416

1,326

5731830.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

21,792

20,764

5732152.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

17,917

16,966

5732468.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

1,290

1,219

5732480.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

819

769

5732503.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

6,061

5,745

5732559.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

1,976

1,866

5732580.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

1,689

1,591

5732592.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

3,310

3,154

5732625.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

19,524

18,317

5733171.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

1,667

1,549

5733174.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

17,404

16,293

5733280.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

4,444

4,188

5733330.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

110,457

105,267

5734394.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

3,369

3,161

5734438.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

2,012

1,899

5734450.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

5,587

5,290

5734498.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

4,440

4,232

5734591.SQ.FTS.B,

Zero

Cpn,

1/23/24

...

15,094

14,127

5734810.SQ.FTS.B,

Zero

Cpn,

1/23/24

...

2,795

2,616

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

78

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5734848.SQ.FTS.B,

Zero

Cpn,

1/23/24

...

$

19,343

$

18,431

5735137.SQ.FTS.B,

Zero

Cpn,

1/23/24

...

5,522

5,226

5735215.SQ.FTS.B,

Zero

Cpn,

1/23/24

...

2,090

1,956

5735246.SQ.FTS.B,

Zero

Cpn,

1/23/24

...

3,019

2,931

5735293.SQ.FTS.B,

Zero

Cpn,

1/24/24

...

6,983

6,535

5735418.SQ.FTS.B,

Zero

Cpn,

1/24/24

...

2,404

2,280

5735453.SQ.FTS.B,

Zero

Cpn,

1/24/24

...

5,835

5,524

5735541.SQ.FTS.B,

Zero

Cpn,

1/24/24

...

39,799

37,926

5736514.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

8,925

8,353

5736928.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

20,621

19,424

5737414.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

13,839

13,188

5737727.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

3,538

3,287

5737829.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

5,311

4,972

5737907.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

18,220

16,978

5738195.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

4,095

3,817

5738226.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

10,682

9,974

5738363.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

4,984

4,676

5738445.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

1,649

1,545

5738492.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

4,026

3,753

5738545.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

6,871

6,548

5738624.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

4,600

4,328

5738726.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

3,737

3,499

5738796.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

7,207

6,733

5738921.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

4,838

4,529

5739031.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

4,250

4,050

5739123.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

1,359

1,272

5739159.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

33,591

31,445

5739776.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

5,039

4,727

5739949.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

17,943

16,900

5740299.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

9,909

9,276

5740514.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

7,394

6,891

5740809.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

554

525

5740820.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

537

516

5740833.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

3,868

3,605

5740947.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

6,288

5,873

5741082.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

3,164

2,968

5741125.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

3,337

3,053

5741175.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

1,825

1,704

5741201.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

1,499

1,399

5741211.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

8,179

7,950

5741356.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

1,703

1,590

5741376.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

2,963

2,761

5741397.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

25,990

24,384

5741716.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

37,695

35,918

5742221.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

3,115

2,968

5742243.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

2,503

2,343

5742284.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

11,325

10,602

5742362.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

39,619

37,106

5742749.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

1,649

1,537

5742759.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

29,257

27,564

5743127.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

3,398

3,180

5743158.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

10,193

9,541

5743272.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

12,600

11,926

5743337.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

1,710

1,590

19,949,417

Freedom

Financial

Asset

Management

LLC

APP-11694723.FP.FTS.B,

5.99%,

12/17/23

7,571

7,664

Description

Principal

Amount

Value

Freedom

Financial

Asset

Management

LLC

(continued)

APP-11740309.FP.FTS.B,

5.99%,

12/20/23

$

7,921

$

8,022

APP-11877787.FP.FTS.B,

5.99%,

1/08/24

.

5,704

5,772

APP-11878440.FP.FTS.B,

5.99%,

1/08/24

.

8,061

8,157

APP-12286984.FP.FTS.B,

5.99%,

1/24/24

.

6,164

6,245

APP-12246415.FP.FTS.B,

5.99%,

1/28/24

.

7,779

7,880

APP-12386826.FP.FTS.B,

23.99%,

2/01/24

8,233

8,228

APP-11745301.FP.FTS.B,

5.99%,

2/04/24

.

5,722

5,795

APP-11693652.FP.FTS.B,

5.99%,

2/05/24

.

10,218

10,367

APP-11843339.FP.FTS.B,

18.99%,

2/15/24

8,604

8,669

APP-11929185.FP.FTS.B,

18.49%,

2/20/24

13,161

4,369

APP-11877563.FP.FTS.B,

5.99%,

2/21/24

.

6,611

6,697

APP-11798519.FP.FTS.B,

5.99%,

2/22/24

.

8,979

9,105

APP-11878127.FP.FTS.B,

5.99%,

2/22/24

.

8,243

8,363

APP-11878470.FP.FTS.B,

5.99%,

2/22/24

.

4,736

4,776

APP-12388609.FP.FTS.B,

17.99%,

3/07/24

8,739

8,824

APP-12281540.FP.FTS.B,

5.99%,

3/08/24

.

6,783

6,870

APP-12343461.FP.FTS.B,

5.99%,

3/15/24

.

6,018

6,101

APP-12287371.FP.FTS.B,

5.99%,

3/17/24

.

6,984

7,083

APP-11595183.FP.FTS.B,

5.99%,

3/22/24

.

8,795

8,927

APP-13914145.FP.FTS.B,

5.99%,

4/18/24

.

7,305

7,414

APP-13768656.FP.FTS.B,

17.49%,

5/01/24

8,694

8,785

APP-14217946.FP.FTS.B,

5.99%,

5/06/24

.

10,131

10,284

APP-13741737.FP.FTS.B,

5.99%,

5/16/24

.

8,823

8,963

APP-13739253.FP.FTS.B,

12.84%,

5/16/24

22,220

22,574

APP-13628198.FP.FTS.B,

5.99%,

5/20/24

.

8,646

8,788

APP-14866497.FP.FTS.B,

5.99%,

5/24/24

.

10,248

10,414

APP-13767456.FP.FTS.B,

5.99%,

5/28/24

.

8,224

8,368

APP-13746596.FP.FTS.B,

5.99%,

5/29/24

.

9,666

9,834

APP-13715084.FP.FTS.B,

17.49%,

5/29/24

7,022

7,126

APP-14939093.FP.FTS.B,

5.99%,

6/01/24

.

7,197

7,310

APP-14865118.FP.FTS.B,

5.99%,

6/06/24

.

7,684

7,809

APP-14129567.FP.FTS.B,

5.99%,

6/10/24

.

9,679

9,839

APP-14038696.FP.FTS.B,

16.49%,

6/10/24

13,958

14,188

APP-14317523.FP.FTS.B,

17.49%,

6/12/24

7,336

7,441

APP-14192022.FP.FTS.B,

5.99%,

6/15/24

.

10,149

10,322

APP-14689106.FP.FTS.B,

5.99%,

6/15/24

.

10,789

10,964

APP-14190363.FP.FTS.B,

5.99%,

6/16/24

.

9,229

9,391

APP-14178961.FP.FTS.B,

5.99%,

6/17/24

.

7,806

7,926

APP-14184679.FP.FTS.B,

23.99%,

6/17/24

10,354

10,517

APP-14057537.FP.FTS.B,

5.99%,

6/20/24

.

10,618

10,810

APP-14304559.FP.FTS.B,

5.99%,

6/20/24

.

7,772

7,910

APP-14343981.FP.FTS.B,

5.99%,

6/20/24

.

10,146

10,322

APP-15398343.FP.FTS.B,

5.99%,

6/20/24

.

11,232

11,425

APP-15532550.FP.FTS.B,

5.99%,

6/30/24

.

10,525

10,704

APP-15485069.FP.FTS.B,

19.24%,

6/30/24

15,000

15,213

APP-15654646.FP.FTS.B,

19.74%,

7/05/24

12,000

12,145

APP-14886920.FP.FTS.B,

5.99%,

7/07/24

.

9,606

9,764

APP-14867047.FP.FTS.B,

5.99%,

7/08/24

.

10,750

10,929

APP-14918054.FP.FTS.B,

14.99%,

7/08/24

17,356

17,647

APP-15601576.FP.FTS.B,

16.49%,

7/08/24

7,919

8,066

APP-14865780.FP.FTS.B,

5.99%,

7/15/24

.

8,318

8,469

APP-14872234.FP.FTS.B,

5.99%,

7/15/24

.

7,214

7,345

APP-14886138.FP.FTS.B,

5.99%,

7/16/24

.

9,621

9,797

APP-15145416.FP.FTS.B,

5.99%,

7/16/24

.

7,500

7,634

APP-15146526.FP.FTS.B,

5.99%,

7/20/24

.

11,536

11,752

APP-15048292.FP.FTS.B,

23.99%,

7/25/24

9,747

9,941

APP-15110089.FP.FTS.B,

5.99%,

7/30/24

.

9,050

9,207

APP-15573525.FP.FTS.B,

23.99%,

8/01/24

16,841

17,036

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

79

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Freedom

Financial

Asset

Management

LLC

(continued)

APP-15556796.FP.FTS.B,

5.99%,

8/05/24

.

$

9,000

$

9,158

APP-15420537.FP.FTS.B,

23.99%,

8/12/24

36,838

37,537

APP-15754991.FP.FTS.B,

5.99%,

8/13/24

.

8,500

8,653

APP-15869410.FP.FTS.B,

5.99%,

8/14/24

.

11,999

12,219

APP-16009600.FP.FTS.B,

5.99%,

8/14/24

.

6,000

6,110

APP-16050735.FP.FTS.B,

5.99%,

8/14/24

.

10,000

10,184

APP-16062858.FP.FTS.B,

23.99%,

8/14/24

10,200

10,357

APP-15705062.FP.FTS.B,

5.99%,

8/15/24

.

11,261

11,475

APP-16033053.FP.FTS.B,

5.99%,

8/15/24

.

6,068

6,180

APP-15525886.FP.FTS.B,

13.49%,

8/15/24

13,446

13,741

APP-15705719.FP.FTS.B,

17.74%,

8/20/24

10,000

10,229

APP-10235543.FP.FTS.B,

18.49%,

8/20/24

10,531

1,288

APP-15602269.FP.FTS.B,

17.74%,

8/21/24

11,451

11,712

APP-15870402.FP.FTS.B,

5.99%,

8/28/24

.

12,000

12,248

APP-16067301.FP.FTS.B,

21.24%,

8/28/24

25,000

25,600

APP-10555656.FP.FTS.B,

14.49%,

11/06/24

21,050

–

APP-10830803.FP.FTS.B,

23.49%,

11/30/24

10,004

9,782

APP-11695043.FP.FTS.B,

14.74%,

12/13/24

9,242

9,322

APP-11741918.FP.FTS.B,

16.49%,

12/15/24

13,943

13,987

APP-11673054.FP.FTS.B,

18.99%,

12/16/24

10,534

10,526

APP-11750013.FP.FTS.B,

25.49%,

12/17/24

8,099

8,022

APP-11742984.FP.FTS.B,

14.49%,

12/21/24

11,761

11,832

APP-11740833.FP.FTS.B,

23.99%,

12/22/24

15,192

15,107

APP-11745688.FP.FTS.B,

23.99%,

12/23/24

10,071

10,049

APP-11749187.FP.FTS.B,

23.99%,

12/23/24

6,851

6,825

APP-11744946.FP.FTS.B,

25.49%,

12/23/24

8,936

8,892

APP-11938639.FP.FTS.B,

9.49%,

1/01/25

.

17,841

18,020

APP-11877979.FP.FTS.B,

7.49%,

1/06/25

.

23,974

24,246

APP-11798664.FP.FTS.B,

17.99%,

1/07/25

6,927

6,932

APP-11942701.FP.FTS.B,

9.49%,

1/08/25

.

34,058

34,449

APP-11729669.FP.FTS.B,

10.74%,

1/08/25

13,323

13,468

APP-11694848.FP.FTS.B,

9.74%,

1/27/25

.

28,715

29,106

APP-11724729.FP.FTS.B,

25.49%,

1/29/25

8,628

5,726

APP-11750761.FP.FTS.B,

20.49%,

1/30/25

10,780

6,842

APP-11749892.FP.FTS.B,

25.49%,

2/01/25

8,959

8,818

APP-11694772.FP.FTS.B,

11.99%,

2/03/25

14,167

14,337

APP-12331634.FP.FTS.B,

7.74%,

2/04/25

.

14,423

14,594

APP-11687630.FP.FTS.B,

11.24%,

2/04/25

25,774

26,086

APP-11751656.FP.FTS.B,

9.74%,

2/05/25

.

16,870

17,098

APP-11722868.FP.FTS.B,

9.99%,

2/05/25

.

42,932

43,590

APP-11745932.FP.FTS.B,

11.74%,

2/06/25

14,492

14,643

APP-11878238.FP.FTS.B,

9.74%,

2/11/25

.

11,964

12,109

APP-11265955.FP.FTS.B,

11.49%,

2/14/25

11,269

11,409

APP-11942316.FP.FTS.B,

9.49%,

2/15/25

.

23,316

23,628

APP-11912407.FP.FTS.B,

15.99%,

2/15/25

18,870

18,931

APP-11937862.FP.FTS.B,

17.49%,

2/15/25

5,006

4,980

APP-11872506.FP.FTS.B,

19.49%,

2/15/25

15,619

15,569

APP-11694780.FP.FTS.B,

18.99%,

2/16/25

9,434

9,470

APP-11914148.FP.FTS.B,

13.74%,

2/18/25

27,252

27,582

APP-11798575.FP.FTS.B,

14.49%,

2/18/25

18,788

18,908

APP-11934547.FP.FTS.B,

18.49%,

2/21/25

10,842

10,889

APP-11210558.FP.FTS.B,

11.49%,

2/22/25

11,021

11,180

APP-11799583.FP.FTS.B,

12.49%,

2/22/25

42,210

42,827

APP-12271842.FP.FTS.B,

11.99%,

3/07/25

12,972

13,113

APP-11767452.FP.FTS.B,

13.49%,

3/08/25

14,005

14,140

APP-12399141.FP.FTS.B,

25.49%,

3/08/25

8,459

8,439

APP-12418924.FP.FTS.B,

7.74%,

3/15/25

.

10,510

10,661

APP-12050640.FP.FTS.B,

12.24%,

3/15/25

25,584

25,936

Description

Principal

Amount

Value

Freedom

Financial

Asset

Management

LLC

(continued)

APP-12033288.FP.FTS.B,

14.49%,

3/15/25

$

17,803

$

17,925

APP-11949006.FP.FTS.B,

9.74%,

3/17/25

.

13,201

13,400

APP-12270565.FP.FTS.B,

16.49%,

3/17/25

26,774

26,696

APP-12351684.FP.FTS.B,

7.49%,

3/18/25

.

17,290

17,538

APP-12270708.FP.FTS.B,

9.49%,

3/20/25

.

21,470

21,809

APP-12246271.FP.FTS.B,

9.74%,

3/20/25

.

15,587

15,833

APP-12420138.FP.FTS.B,

17.99%,

3/20/25

8,967

9,053

APP-12418031.FP.FTS.B,

13.99%,

3/22/25

21,544

21,870

APP-12287521.FP.FTS.B,

16.49%,

3/22/25

12,650

12,779

APP-13752242.FP.FTS.B,

10.09%,

4/01/25

12,008

12,149

APP-13628972.FP.FTS.B,

17.49%,

4/06/25

10,936

11,084

APP-13961297.FP.FTS.B,

17.49%,

4/16/25

7,440

7,518

APP-13951296.FP.FTS.B,

17.24%,

4/26/25

23,210

23,398

APP-14058368.FP.FTS.B,

12.49%,

5/01/25

22,291

22,557

APP-14320969.FP.FTS.B,

17.49%,

5/01/25

11,897

11,935

APP-14113024.FP.FTS.B,

11.59%,

5/03/25

10,573

10,724

APP-14094552.FP.FTS.B,

17.74%,

5/03/25

36,838

37,076

APP-14082686.FP.FTS.B,

15.99%,

5/04/25

23,881

23,912

APP-14138459.FP.FTS.B,

25.49%,

5/04/25

7,903

7,926

APP-14057139.FP.FTS.B,

20.49%,

5/05/25

9,361

9,428

APP-14158512.FP.FTS.B,

22.99%,

5/05/25

15,000

5,584

APP-14304933.FP.FTS.B,

14.99%,

5/12/25

11,461

11,581

APP-13745262.FP.FTS.B,

12.84%,

5/16/25

46,339

47,020

APP-13550190.FP.FTS.B,

24.99%,

5/16/25

14,235

14,288

APP-13415402.FP.FTS.B,

19.49%,

5/17/25

15,012

15,096

APP-13512883.FP.FTS.B,

9.84%,

5/20/25

.

37,248

37,929

APP-13608232.FP.FTS.B,

9.84%,

5/20/25

.

19,919

20,258

APP-13608873.FP.FTS.B,

9.84%,

5/20/25

.

20,218

20,567

APP-13060190.FP.FTS.B,

10.24%,

5/20/25

26,770

27,242

APP-13484949.FP.FTS.B,

15.99%,

5/20/25

13,157

13,326

APP-13501448.FP.FTS.B,

22.74%,

5/20/25

21,161

21,285

APP-13805924.FP.FTS.B,

24.99%,

5/20/25

14,928

14,975

APP-14987484.FP.FTS.B,

15.99%,

5/22/25

10,195

10,311

APP-14613251.FP.FTS.B,

10.49%,

5/25/25

13,510

13,691

APP-13824334.FP.FTS.B,

22.99%,

5/25/25

13,490

13,619

APP-13938404.FP.FTS.B,

12.24%,

5/26/25

37,193

37,758

APP-13957398.FP.FTS.B,

14.49%,

6/01/25

20,149

20,435

APP-15038181.FP.FTS.B,

25.49%,

6/01/25

10,601

10,553

APP-13768213.FP.FTS.B,

14.49%,

6/03/25

21,151

21,491

APP-13914811.FP.FTS.B,

15.09%,

6/03/25

9,680

9,834

APP-13485650.FP.FTS.B,

18.49%,

6/03/25

9,723

9,839

APP-14959860.FP.FTS.B,

19.74%,

6/03/25

48,689

48,875

APP-13798065.FP.FTS.B,

22.99%,

6/03/25

14,050

14,031

APP-13821733.FP.FTS.B,

22.99%,

6/03/25

13,275

13,257

APP-13809972.FP.FTS.B,

25.49%,

6/03/25

10,686

10,679

APP-13609952.FP.FTS.B,

10.09%,

6/04/25

39,923

40,577

APP-13818738.FP.FTS.B,

10.84%,

6/04/25

42,561

43,314

APP-13848567.FP.FTS.B,

25.49%,

6/04/25

8,847

8,847

APP-14919947.FP.FTS.B,

16.24%,

6/05/25

30,856

31,074

APP-14179362.FP.FTS.B,

17.49%,

6/05/25

9,603

9,736

APP-15039073.FP.FTS.B,

23.49%,

6/05/25

9,768

9,769

APP-14196847.FP.FTS.B,

20.49%,

6/06/25

10,070

10,148

APP-14194688.FP.FTS.B,

25.49%,

6/06/25

9,233

9,196

APP-13901500.FP.FTS.B,

19.49%,

6/07/25

14,273

14,341

APP-13913960.FP.FTS.B,

25.49%,

6/07/25

8,827

8,834

APP-13968504.FP.FTS.B,

19.49%,

6/08/25

14,474

14,551

APP-14166988.FP.FTS.B,

17.49%,

6/09/25

9,586

9,733

APP-13946841.FP.FTS.B,

10.59%,

6/10/25

25,060

25,491

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

80

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Freedom

Financial

Asset

Management

LLC

(continued)

APP-14104273.FP.FTS.B,

18.49%,

6/11/25

$

16,778

$

16,938

APP-14165903.FP.FTS.B,

19.24%,

6/12/25

47,978

48,373

APP-14337562.FP.FTS.B,

11.24%,

6/13/25

47,643

48,425

APP-14058139.FP.FTS.B,

11.84%,

6/15/25

12,641

12,850

APP-14058182.FP.FTS.B,

18.49%,

6/15/25

7,341

7,451

APP-14134773.FP.FTS.B,

21.99%,

6/15/25

9,662

9,763

APP-14319615.FP.FTS.B,

18.49%,

6/16/25

21,115

21,373

APP-13822936.FP.FTS.B,

9.34%,

6/17/25

.

28,840

29,371

APP-14057042.FP.FTS.B,

7.84%,

6/18/25

.

21,840

22,217

APP-14176007.FP.FTS.B,

7.84%,

6/18/25

.

23,831

24,267

APP-14182518.FP.FTS.B,

7.84%,

6/18/25

.

20,871

21,251

APP-14189826.FP.FTS.B,

9.34%,

6/18/25

.

28,638

29,172

APP-14107541.FP.FTS.B,

10.09%,

6/18/25

14,331

14,601

APP-14058031.FP.FTS.B,

16.49%,

6/18/25

9,710

9,858

APP-14147815.FP.FTS.B,

19.99%,

6/18/25

14,525

14,572

APP-14145063.FP.FTS.B,

20.49%,

6/18/25

7,244

7,350

APP-14118175.FP.FTS.B,

10.09%,

6/19/25

17,187

17,516

APP-14058272.FP.FTS.B,

12.59%,

6/19/25

26,600

27,113

APP-14176728.FP.FTS.B,

16.99%,

6/19/25

18,544

18,892

APP-14058481.FP.FTS.B,

17.49%,

6/19/25

11,068

11,290

APP-14181617.FP.FTS.B,

18.49%,

6/19/25

15,314

15,554

APP-14153697.FP.FTS.B,

20.49%,

6/19/25

9,648

9,772

APP-14199438.FP.FTS.B,

24.99%,

6/19/25

17,052

17,179

APP-14188793.FP.FTS.B,

25.49%,

6/19/25

8,452

8,539

APP-14194578.FP.FTS.B,

25.49%,

6/19/25

7,691

7,740

APP-14057653.FP.FTS.B,

10.09%,

6/20/25

17,607

17,968

APP-14215775.FP.FTS.B,

16.49%,

6/20/25

18,675

19,016

APP-14192654.FP.FTS.B,

19.49%,

6/20/25

14,491

14,713

APP-14309929.FP.FTS.B,

25.49%,

6/20/25

9,680

9,785

APP-14216535.FP.FTS.B,

24.74%,

6/21/25

24,251

24,595

APP-15761876.FP.FTS.B,

18.24%,

6/25/25

16,546

16,772

APP-14318446.FP.FTS.B,

23.49%,

6/25/25

24,237

24,573

APP-14349793.FP.FTS.B,

16.24%,

6/26/25

31,592

31,963

APP-15705647.FP.FTS.B,

18.74%,

6/30/25

15,281

15,432

APP-15602534.FP.FTS.B,

17.24%,

7/02/25

20,551

21,001

APP-15754423.FP.FTS.B,

25.49%,

7/04/25

11,100

11,155

APP-14867025.FP.FTS.B,

8.24%,

7/06/25

.

22,818

23,177

APP-14874396.FP.FTS.B,

11.24%,

7/06/25

48,804

49,565

APP-14887461.FP.FTS.B,

15.99%,

7/06/25

23,803

24,043

APP-15716641.FP.FTS.B,

25.49%,

7/06/25

9,999

10,266

APP-14907939.FP.FTS.B,

17.49%,

7/07/25

21,789

21,863

APP-14925295.FP.FTS.B,

10.24%,

7/08/25

37,100

37,725

APP-15017105.FP.FTS.B,

22.49%,

7/11/25

9,788

9,843

APP-14864961.FP.FTS.B,

22.74%,

7/11/25

16,641

16,694

APP-15032228.FP.FTS.B,

23.49%,

7/12/25

9,797

9,834

APP-15025145.FP.FTS.B,

25.49%,

7/12/25

9,082

9,149

APP-15033224.FP.FTS.B,

25.49%,

7/12/25

8,822

8,847

APP-15041755.FP.FTS.B,

25.49%,

7/12/25

11,861

11,894

APP-16004136.FP.FTS.B,

25.49%,

7/12/25

7,000

7,216

APP-16047052.FP.FTS.B,

20.74%,

7/13/25

40,000

41,150

APP-15125079.FP.FTS.B,

10.24%,

7/15/25

19,521

19,856

APP-15043725.FP.FTS.B,

12.74%,

7/15/25

13,763

13,997

APP-14877854.FP.FTS.B,

14.99%,

7/15/25

11,858

11,996

APP-14866721.FP.FTS.B,

17.49%,

7/15/25

12,236

12,435

APP-14887227.FP.FTS.B,

17.49%,

7/15/25

11,788

11,980

APP-14890683.FP.FTS.B,

17.49%,

7/15/25

12,246

12,480

APP-15129611.FP.FTS.B,

10.49%,

7/16/25

11,717

11,929

APP-14867122.FP.FTS.B,

14.99%,

7/16/25

19,736

20,019

Description

Principal

Amount

Value

Freedom

Financial

Asset

Management

LLC

(continued)

APP-14748673.FP.FTS.B,

10.74%,

7/17/25

$

14,687

$

14,966

APP-14866669.FP.FTS.B,

17.49%,

7/17/25

13,635

13,845

APP-14574626.FP.FTS.B,

8.24%,

7/18/25

.

34,586

35,247

APP-14522319.FP.FTS.B,

10.24%,

7/20/25

27,753

28,311

APP-14854614.FP.FTS.B,

14.99%,

7/21/25

16,718

17,070

APP-14927595.FP.FTS.B,

14.99%,

7/21/25

17,070

17,362

APP-14909153.FP.FTS.B,

16.74%,

7/21/25

31,509

32,078

APP-14957730.FP.FTS.B,

16.99%,

7/21/25

23,471

23,862

APP-14688359.FP.FTS.B,

8.49%,

7/22/25

.

14,063

14,346

APP-14688226.FP.FTS.B,

10.49%,

7/22/25

13,145

13,419

APP-14920948.FP.FTS.B,

10.49%,

7/22/25

21,570

22,008

APP-14922149.FP.FTS.B,

18.99%,

7/22/25

9,857

10,059

APP-14987575.FP.FTS.B,

19.99%,

7/22/25

14,796

15,058

APP-15015830.FP.FTS.B,

25.49%,

7/22/25

9,872

10,013

APP-15036503.FP.FTS.B,

25.49%,

7/22/25

14,018

14,219

APP-14503143.FP.FTS.B,

17.99%,

7/23/25

10,373

10,558

APP-15010755.FP.FTS.B,

25.49%,

7/23/25

22,028

22,359

APP-15038725.FP.FTS.B,

23.49%,

7/24/25

10,000

10,153

APP-15012947.FP.FTS.B,

25.49%,

7/25/25

18,556

19,231

APP-15034160.FP.FTS.B,

25.49%,

7/25/25

24,733

25,141

APP-14867189.FP.FTS.B,

17.49%,

7/26/25

15,314

15,617

APP-15050243.FP.FTS.B,

18.99%,

7/26/25

10,000

10,296

APP-14543407.FP.FTS.B,

10.49%,

7/29/25

20,000

20,424

APP-15143633.FP.FTS.B,

10.49%,

7/30/25

15,682

15,978

APP-15593139.FP.FTS.B,

25.49%,

8/04/25

15,000

15,390

APP-15235015.FP.FTS.B,

8.74%,

8/05/25

.

24,774

25,209

APP-15739609.FP.FTS.B,

8.74%,

8/07/25

.

29,500

30,008

APP-15464138.FP.FTS.B,

10.99%,

8/12/25

17,190

17,592

APP-15537240.FP.FTS.B,

25.49%,

8/12/25

12,589

12,986

APP-15567566.FP.FTS.B,

16.74%,

8/13/25

7,500

7,691

APP-15576269.FP.FTS.B,

25.49%,

8/13/25

12,500

12,903

APP-15715162.FP.FTS.B,

16.74%,

8/14/25

16,100

16,507

APP-15222033.FP.FTS.B,

22.24%,

8/14/25

32,397

32,833

APP-16065337.FP.FTS.B,

23.49%,

8/14/25

11,700

12,078

APP-15259729.FP.FTS.B,

25.49%,

8/14/25

10,900

11,259

APP-16046235.FP.FTS.B,

25.49%,

8/14/25

10,500

10,834

APP-13337231.FP.FTS.B,

8.99%,

8/15/25

.

17,190

17,581

APP-15399078.FP.FTS.B,

20.99%,

8/15/25

50,000

50,876

APP-15754329.FP.FTS.B,

22.24%,

8/15/25

11,000

11,181

APP-15584390.FP.FTS.B,

25.49%,

8/15/25

19,500

20,157

APP-15752749.FP.FTS.B,

25.49%,

8/15/25

10,000

10,329

APP-15636019.FP.FTS.B,

22.24%,

8/16/25

10,000

10,171

APP-16002031.FP.FTS.B,

11.49%,

8/19/25

22,407

22,923

APP-10173660.FP.FTS.B,

14.49%,

8/19/25

42,238

42,814

APP-15727324.FP.FTS.B,

25.49%,

8/20/25

13,000

13,473

APP-15744848.FP.FTS.B,

25.49%,

8/20/25

12,900

13,370

APP-15705051.FP.FTS.B,

11.74%,

8/21/25

44,210

45,104

APP-15743213.FP.FTS.B,

25.49%,

8/21/25

13,000

13,482

APP-14371156.FP.FTS.B,

20.49%,

8/22/25

8,100

8,386

APP-15524582.FP.FTS.B,

10.49%,

8/25/25

15,000

15,317

APP-16072062.FP.FTS.B,

25.49%,

8/26/25

8,000

8,324

APP-16069326.FP.FTS.B,

25.49%,

8/27/25

11,015

11,469

APP-16077556.FP.FTS.B,

14.99%,

8/28/25

40,761

41,697

APP-15602456.FP.FTS.B,

20.99%,

8/28/25

13,494

13,806

APP-10482527.FP.FTS.B,

10.99%,

10/26/25

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

17,684

17,889

APP-10846360.FP.FTS.B,

11.49%,

11/30/25

28,182

28,590

APP-11672772.FP.FTS.B,

13.99%,

12/01/25

26,312

26,483

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

81

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Freedom

Financial

Asset

Management

LLC

(continued)

APP-11657253.FP.FTS.B,

16.99%,

12/20/25

$

44,088

$

44,649

APP-11733135.FP.FTS.B,

20.99%,

12/22/25

8,995

9,071

APP-08649280.FP.FTS.B,

9.99%,

12/23/25

18,866

19,155

APP-11750254.FP.FTS.B,

22.49%,

12/23/25

6,732

6,776

APP-11461331.FP.FTS.B,

8.99%,

12/25/25

27,197

27,551

APP-10224409.FP.FTS.B,

10.24%,

1/04/26

12,239

12,390

APP-11945210.FP.FTS.B,

14.49%,

1/08/26

17,581

17,772

APP-11461158.FP.FTS.B,

7.99%,

1/26/26

.

36,150

36,724

APP-12399676.FP.FTS.B,

20.99%,

1/28/26

8,721

8,782

APP-11727451.FP.FTS.B,

19.49%,

2/01/26

7,339

7,382

APP-11740312.FP.FTS.B,

20.49%,

2/03/26

17,720

17,675

APP-12270370.FP.FTS.B,

8.99%,

2/04/26

.

45,523

46,133

APP-11693759.FP.FTS.B,

13.99%,

2/05/26

21,888

22,065

APP-11750555.FP.FTS.B,

19.49%,

2/06/26

11,196

11,250

APP-11750277.FP.FTS.B,

20.99%,

2/06/26

6,989

7,026

APP-11945838.FP.FTS.B,

13.99%,

2/16/26

22,151

22,357

APP-11872702.FP.FTS.B,

7.99%,

2/20/26

.

21,672

22,022

APP-11878157.FP.FTS.B,

13.99%,

2/21/26

21,045

21,281

APP-11945140.FP.FTS.B,

15.49%,

2/21/26

16,818

16,964

APP-11880862.FP.FTS.B,

17.99%,

2/21/26

11,191

11,309

APP-11877630.FP.FTS.B,

18.24%,

2/21/26

28,165

28,319

APP-11872574.FP.FTS.B,

10.24%,

2/22/26

17,525

17,824

APP-11934555.FP.FTS.B,

19.49%,

2/22/26

14,247

14,336

APP-12409087.FP.FTS.B,

7.99%,

3/08/26

.

22,745

23,073

APP-12287223.FP.FTS.B,

19.99%,

3/08/26

15,681

15,675

APP-12415046.FP.FTS.B,

16.49%,

3/10/26

18,666

18,684

APP-12410099.FP.FTS.B,

10.24%,

3/15/26

15,106

15,351

APP-12357846.FP.FTS.B,

16.99%,

3/19/26

12,314

12,465

APP-12417109.FP.FTS.B,

15.49%,

3/21/26

9,445

9,598

APP-12270589.FP.FTS.B,

10.24%,

3/22/26

17,050

17,358

APP-13789676.FP.FTS.B,

20.99%,

4/16/26

9,564

9,629

APP-13853129.FP.FTS.B,

17.49%,

4/18/26

22,912

23,168

APP-14057607.FP.FTS.B,

13.99%,

4/30/26

19,441

19,606

APP-14153218.FP.FTS.B,

17.99%,

5/01/26

26,831

27,026

APP-14176796.FP.FTS.B,

10.34%,

5/06/26

24,218

24,579

APP-14308214.FP.FTS.B,

17.49%,

5/06/26

13,357

13,447

APP-13754165.FP.FTS.B,

8.34%,

5/16/26

.

34,720

35,300

APP-11443413.FP.FTS.B,

10.59%,

5/17/26

34,294

34,877

APP-13539948.FP.FTS.B,

21.74%,

5/18/26

19,336

19,517

APP-12270410.FP.FTS.B,

8.34%,

5/20/26

.

25,310

25,742

APP-13700095.FP.FTS.B,

21.74%,

5/20/26

23,985

24,166

APP-12032996.FP.FTS.B,

12.34%,

5/22/26

11,481

11,697

APP-13485505.FP.FTS.B,

15.74%,

5/22/26

29,729

30,201

APP-13608775.FP.FTS.B,

13.49%,

5/26/26

26,296

26,803

APP-13956248.FP.FTS.B,

18.99%,

5/27/26

11,530

11,656

APP-13949041.FP.FTS.B,

20.24%,

5/27/26

23,970

24,267

APP-14908970.FP.FTS.B,

15.99%,

5/28/26

24,136

24,485

APP-13847680.FP.FTS.B,

12.59%,

6/01/26

31,280

31,846

APP-14866693.FP.FTS.B,

14.99%,

6/01/26

13,079

13,251

APP-13764063.FP.FTS.B,

10.34%,

6/03/26

20,366

20,740

APP-13826786.FP.FTS.B,

16.49%,

6/03/26

11,714

11,928

APP-13823472.FP.FTS.B,

17.24%,

6/03/26

37,121

37,564

APP-14175261.FP.FTS.B,

20.49%,

6/05/26

30,323

30,644

APP-15030553.FP.FTS.B,

16.99%,

6/07/26

22,693

22,918

APP-14058279.FP.FTS.B,

21.74%,

6/10/26

19,833

19,978

APP-14988815.FP.FTS.B,

26.49%,

6/10/26

7,365

7,390

APP-14297747.FP.FTS.B,

22.99%,

6/12/26

9,741

9,833

APP-14338698.FP.FTS.B,

14.74%,

6/13/26

44,402

45,108

Description

Principal

Amount

Value

Freedom

Financial

Asset

Management

LLC

(continued)

APP-14057255.FP.FTS.B,

12.34%,

6/15/26

$

13,457

$

13,711

APP-14222736.FP.FTS.B,

12.84%,

6/15/26

18,429

18,752

APP-14188614.FP.FTS.B,

15.99%,

6/15/26

19,477

19,783

APP-14174847.FP.FTS.B,

16.49%,

6/15/26

26,218

26,638

APP-14058114.FP.FTS.B,

16.99%,

6/15/26

18,456

18,769

APP-14057971.FP.FTS.B,

17.99%,

6/15/26

14,155

14,271

APP-14331555.FP.FTS.B,

20.49%,

6/15/26

19,487

19,693

APP-14191932.FP.FTS.B,

20.99%,

6/15/26

10,712

10,805

APP-14185776.FP.FTS.B,

18.49%,

6/16/26

12,598

12,796

APP-14058099.FP.FTS.B,

18.99%,

6/16/26

17,668

17,949

APP-14085492.FP.FTS.B,

9.84%,

6/17/26

.

30,523

31,117

APP-14181485.FP.FTS.B,

11.34%,

6/17/26

48,511

49,466

APP-14058166.FP.FTS.B,

18.99%,

6/17/26

14,148

14,380

APP-14329008.FP.FTS.B,

19.49%,

6/17/26

23,626

23,916

APP-14176550.FP.FTS.B,

10.34%,

6/18/26

33,933

34,601

APP-14057334.FP.FTS.B,

17.49%,

6/18/26

22,389

22,759

APP-14192027.FP.FTS.B,

9.84%,

6/19/26

.

30,047

30,642

APP-07740556.FP.FTS.B,

12.59%,

6/19/26

24,154

24,649

APP-13767318.FP.FTS.B,

13.34%,

6/19/26

41,212

42,059

APP-13768624.FP.FTS.B,

16.99%,

6/19/26

17,875

18,255

APP-13963648.FP.FTS.B,

17.24%,

6/19/26

31,608

32,143

APP-13768424.FP.FTS.B,

17.49%,

6/19/26

24,794

25,220

APP-14057973.FP.FTS.B,

17.99%,

6/19/26

17,845

18,075

APP-14214629.FP.FTS.B,

10.34%,

6/20/26

28,358

28,903

APP-14208072.FP.FTS.B,

18.49%,

6/20/26

19,471

19,646

APP-14193365.FP.FTS.B,

21.49%,

6/20/26

17,669

17,928

APP-14178499.FP.FTS.B,

26.49%,

6/21/26

7,370

7,475

APP-14325259.FP.FTS.B,

15.99%,

6/24/26

24,347

24,780

APP-15602395.FP.FTS.B,

17.24%,

6/24/26

21,981

22,295

APP-14329001.FP.FTS.B,

23.49%,

6/24/26

7,367

7,497

APP-14280430.FP.FTS.B,

20.49%,

6/25/26

17,141

17,436

APP-14178163.FP.FTS.B,

13.24%,

6/26/26

16,903

17,243

APP-15479960.FP.FTS.B,

24.74%,

6/29/26

10,525

10,699

APP-15673409.FP.FTS.B,

17.24%,

7/01/26

8,084

8,228

APP-14548332.FP.FTS.B,

16.49%,

7/05/26

25,586

25,843

APP-16068283.FP.FTS.B,

20.74%,

7/05/26

25,700

25,975

APP-15676938.FP.FTS.B,

14.49%,

7/06/26

10,000

10,198

APP-14933900.FP.FTS.B,

13.74%,

7/08/26

39,379

40,021

APP-14801281.FP.FTS.B,

14.99%,

7/08/26

15,594

15,849

APP-14689091.FP.FTS.B,

17.49%,

7/09/26

10,674

10,826

APP-14943051.FP.FTS.B,

17.99%,

7/09/26

19,718

19,994

APP-14522661.FP.FTS.B,

15.99%,

7/10/26

26,391

26,836

APP-16070360.FP.FTS.B,

20.74%,

7/10/26

42,222

42,794

APP-15869429.FP.FTS.B,

21.99%,

7/10/26

9,000

9,108

APP-15045798.FP.FTS.B,

17.74%,

7/12/26

39,394

39,842

APP-15054747.FP.FTS.B,

21.49%,

7/12/26

25,941

26,132

APP-15043711.FP.FTS.B,

26.49%,

7/12/26

9,871

9,928

APP-16085008.FP.FTS.B,

18.49%,

7/14/26

19,000

19,457

APP-14920803.FP.FTS.B,

16.99%,

7/15/26

15,426

15,728

APP-14921360.FP.FTS.B,

16.99%,

7/15/26

14,221

14,500

APP-14865932.FP.FTS.B,

17.49%,

7/15/26

26,679

27,087

APP-14689124.FP.FTS.B,

10.99%,

7/17/26

18,737

19,112

APP-14882473.FP.FTS.B,

12.99%,

7/17/26

40,672

41,412

APP-14866628.FP.FTS.B,

17.49%,

7/17/26

15,315

15,583

APP-14688569.FP.FTS.B,

17.74%,

7/17/26

35,432

36,035

APP-14816252.FP.FTS.B,

10.74%,

7/18/26

20,825

21,249

APP-14688717.FP.FTS.B,

10.99%,

7/18/26

12,546

12,801

APP-14870900.FP.FTS.B,

17.49%,

7/19/26

19,555

19,979

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

82

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Freedom

Financial

Asset

Management

LLC

(continued)

APP-14905708.FP.FTS.B,

16.99%,

7/20/26

$

12,390

$

12,662

APP-14820629.FP.FTS.B,

17.24%,

7/20/26

39,653

40,298

APP-15020361.FP.FTS.B,

26.49%,

7/20/26

7,446

7,554

APP-14907389.FP.FTS.B,

8.74%,

7/21/26

.

20,811

21,237

APP-14902088.FP.FTS.B,

11.24%,

7/22/26

15,597

15,929

APP-15025202.FP.FTS.B,

23.74%,

7/22/26

17,766

18,050

APP-14865904.FP.FTS.B,

15.74%,

7/23/26

37,649

38,499

APP-14980679.FP.FTS.B,

17.99%,

7/23/26

14,885

15,205

APP-14964964.FP.FTS.B,

18.99%,

7/23/26

25,553

26,028

APP-13767438.FP.FTS.B,

10.74%,

7/25/26

34,555

35,273

APP-15048537.FP.FTS.B,

20.99%,

7/25/26

24,830

25,275

APP-15919958.FP.FTS.B,

19.49%,

7/28/26

17,000

17,233

APP-15532455.FP.FTS.B,

18.99%,

7/30/26

40,000

40,465

APP-15593931.FP.FTS.B,

15.24%,

8/01/26

7,500

7,630

APP-15432708.FP.FTS.B,

24.74%,

8/05/26

7,500

7,587

APP-15727191.FP.FTS.B,

15.74%,

8/07/26

21,977

22,296

APP-15603934.FP.FTS.B,

24.74%,

8/07/26

10,525

10,643

APP-15747301.FP.FTS.B,

26.49%,

8/07/26

7,500

7,578

APP-15589148.FP.FTS.B,

14.49%,

8/08/26

10,525

10,762

APP-10219598.FP.FTS.B,

15.49%,

8/11/26

13,990

7,880

APP-15594842.FP.FTS.B,

17.24%,

8/12/26

20,000

20,530

APP-16036383.FP.FTS.B,

20.24%,

8/13/26

12,000

12,183

APP-15327014.FP.FTS.B,

9.24%,

8/14/26

.

34,000

34,692

APP-15585646.FP.FTS.B,

9.49%,

8/14/26

.

13,774

14,056

APP-15594751.FP.FTS.B,

10.74%,

8/14/26

31,600

32,350

APP-15585110.FP.FTS.B,

11.49%,

8/14/26

19,000

19,401

APP-16061106.FP.FTS.B,

22.74%,

8/14/26

12,100

12,269

APP-16050065.FP.FTS.B,

23.99%,

8/14/26

8,000

8,232

APP-15872822.FP.FTS.B,

19.24%,

8/15/26

12,658

12,865

APP-15449600.FP.FTS.B,

20.74%,

8/15/26

24,700

25,123

APP-15458893.FP.FTS.B,

20.74%,

8/15/26

21,787

22,132

APP-15763520.FP.FTS.B,

20.74%,

8/15/26

25,900

26,344

APP-15526039.FP.FTS.B,

21.74%,

8/15/26

14,000

14,224

APP-15529270.FP.FTS.B,

24.74%,

8/15/26

7,500

7,624

APP-16072518.FP.FTS.B,

12.49%,

8/16/26

50,000

50,943

APP-10235724.FP.FTS.B,

15.49%,

8/20/26

44,093

44,648

APP-15493477.FP.FTS.B,

16.74%,

8/20/26

18,945

19,370

APP-15602180.FP.FTS.B,

18.74%,

8/20/26

16,404

16,781

APP-15747887.FP.FTS.B,

18.74%,

8/20/26

11,717

11,963

APP-15743821.FP.FTS.B,

26.49%,

8/20/26

11,000

11,380

APP-15757972.FP.FTS.B,

18.24%,

8/21/26

15,520

15,949

APP-15750146.FP.FTS.B,

19.24%,

8/21/26

12,000

12,260

APP-15602370.FP.FTS.B,

20.74%,

8/21/26

26,308

26,847

APP-15467456.FP.FTS.B,

26.49%,

8/21/26

10,565

10,781

APP-16052276.FP.FTS.B,

25.24%,

8/23/26

39,000

39,782

APP-13200176.FP.FTS.B,

16.49%,

8/24/26

13,628

13,932

APP-16067938.FP.FTS.B,

18.74%,

8/24/26

22,000

22,461

APP-16033084.FP.FTS.B,

16.49%,

8/25/26

30,000

30,675

APP-16046175.FP.FTS.B,

19.24%,

8/25/26

23,155

23,847

APP-12414817.FP.FTS.B,

15.24%,

8/26/26

19,592

20,044

APP-12674952.FP.FTS.B,

15.24%,

8/26/26

16,611

16,842

APP-16078255.FP.FTS.B,

19.24%,

8/26/26

26,500

27,097

APP-16046150.FP.FTS.B,

21.74%,

8/26/26

14,758

15,269

APP-16052656.FP.FTS.B,

21.99%,

8/26/26

20,500

20,934

APP-16051271.FP.FTS.B,

21.74%,

8/27/26

15,000

15,331

APP-15951898.FP.FTS.B,

16.49%,

8/28/26

31,000

31,558

APP-15872992.FP.FTS.B,

19.24%,

8/28/26

19,095

19,538

APP-10557800.FP.FTS.B,

21.99%,

9/22/26

9,797

–

Description

Principal

Amount

Value

Freedom

Financial

Asset

Management

LLC

(continued)

APP-10240464.FP.FTS.B,

21.49%,

10/05/26

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

$

20,000

$

–

APP-10578913.FP.FTS.B,

22.99%,

10/23/26

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

18,037

17,980

APP-10229823.FP.FTS.B,

25.49%,

10/26/26

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

9,064

9,049

APP-10806516.FP.FTS.B,

16.49%,

11/19/26

12,735

12,870

APP-10745954.FP.FTS.B,

12.74%,

11/30/26

34,882

35,273

APP-10577088.FP.FTS.B,

16.99%,

11/30/26

39,178

21,960

APP-11742538.FP.FTS.B,

16.49%,

12/15/26

23,832

24,030

APP-11603796.FP.FTS.B,

20.99%,

12/15/26

13,858

13,753

APP-11741994.FP.FTS.B,

18.99%,

12/16/26

15,662

15,670

APP-11695022.FP.FTS.B,

16.49%,

12/17/26

22,684

22,933

APP-11737893.FP.FTS.B,

25.49%,

12/18/26

10,064

10,005

APP-11743333.FP.FTS.B,

16.49%,

12/19/26

13,802

13,942

APP-11703512.FP.FTS.B,

22.49%,

12/19/26

9,290

9,261

APP-11021819.FP.FTS.B,

20.49%,

12/20/26

23,097

23,147

APP-11694428.FP.FTS.B,

14.49%,

12/22/26

8,555

8,673

APP-11742165.FP.FTS.B,

18.49%,

12/22/26

11,087

11,129

APP-11739845.FP.FTS.B,

19.99%,

12/22/26

12,448

12,437

APP-11743712.FP.FTS.B,

21.49%,

12/22/26

13,938

13,906

APP-11751120.FP.FTS.B,

8.99%,

12/23/26

36,177

36,697

APP-11694004.FP.FTS.B,

11.74%,

12/23/26

45,270

45,911

APP-11749080.FP.FTS.B,

13.74%,

12/23/26

9,150

9,281

APP-11755141.FP.FTS.B,

17.99%,

12/23/26

8,017

8,089

APP-11749943.FP.FTS.B,

18.49%,

12/23/26

12,387

12,440

APP-11740776.FP.FTS.B,

19.99%,

12/23/26

21,203

7,305

APP-11708423.FP.FTS.B,

20.99%,

12/23/26

33,445

33,519

APP-11743539.FP.FTS.B,

21.74%,

12/23/26

23,259

23,219

APP-11752109.FP.FTS.B,

22.49%,

12/23/26

9,784

9,779

APP-11938966.FP.FTS.B,

16.49%,

1/01/27

4,044

4,031

APP-11940304.FP.FTS.B,

17.74%,

1/03/27

46,520

46,387

APP-11940969.FP.FTS.B,

13.99%,

1/05/27

43,724

44,127

APP-11890774.FP.FTS.B,

8.99%,

1/06/27

.

36,701

37,138

APP-11920032.FP.FTS.B,

19.99%,

1/07/27

23,784

14,597

APP-11909846.FP.FTS.B,

23.74%,

1/07/27

24,557

24,250

APP-11939491.FP.FTS.B,

15.49%,

1/08/27

14,406

14,407

APP-11795112.FP.FTS.B,

19.99%,

1/08/27

13,854

13,743

APP-11929275.FP.FTS.B,

19.99%,

1/08/27

9,365

9,337

APP-11934748.FP.FTS.B,

22.49%,

1/08/27

9,449

9,338

APP-12270584.FP.FTS.B,

10.49%,

1/25/27

29,971

5,412

APP-11749683.FP.FTS.B,

16.74%,

1/25/27

27,052

27,208

APP-11704729.FP.FTS.B,

16.99%,

1/25/27

18,502

18,722

APP-11746565.FP.FTS.B,

18.49%,

1/25/27

18,957

19,102

APP-11752310.FP.FTS.B,

25.49%,

1/28/27

3,144

3,070

APP-12268807.FP.FTS.B,

10.99%,

2/01/27

24,942

25,224

APP-11022562.FP.FTS.B,

11.74%,

2/01/27

9,344

9,448

APP-11752030.FP.FTS.B,

19.99%,

2/01/27

9,516

9,523

APP-11753946.FP.FTS.B,

8.99%,

2/03/27

.

25,711

26,068

APP-12396734.FP.FTS.B,

11.74%,

2/03/27

46,755

47,290

APP-11732843.FP.FTS.B,

14.74%,

2/03/27

46,786

47,316

APP-11751839.FP.FTS.B,

14.74%,

2/03/27

13,630

13,475

APP-11594844.FP.FTS.B,

16.99%,

2/03/27

14,049

14,036

APP-11712261.FP.FTS.B,

18.49%,

2/03/27

15,156

14,972

APP-11750170.FP.FTS.B,

8.99%,

2/04/27

.

18,477

18,739

APP-11742866.FP.FTS.B,

20.99%,

2/04/27

14,201

14,048

APP-11745377.FP.FTS.B,

21.49%,

2/04/27

14,962

14,825

APP-11612708.FP.FTS.B,

22.99%,

2/04/27

15,006

14,852

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

83

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Freedom

Financial

Asset

Management

LLC

(continued)

APP-11738963.FP.FTS.B,

24.49%,

2/04/27

$

36,293

$

3,283

APP-11743707.FP.FTS.B,

16.49%,

2/05/27

15,012

15,200

APP-11752870.FP.FTS.B,

16.49%,

2/05/27

11,259

11,401

APP-12293217.FP.FTS.B,

17.49%,

2/05/27

23,592

23,583

APP-11742593.FP.FTS.B,

17.99%,

2/05/27

9,414

9,417

APP-11750409.FP.FTS.B,

17.99%,

2/05/27

17,513

17,562

APP-11703116.FP.FTS.B,

19.49%,

2/05/27

11,333

11,305

APP-11749955.FP.FTS.B,

19.99%,

2/05/27

14,181

14,147

APP-11725995.FP.FTS.B,

21.99%,

2/05/27

11,098

11,094

APP-11750448.FP.FTS.B,

18.99%,

2/06/27

14,162

14,178

APP-11754451.FP.FTS.B,

19.49%,

2/06/27

15,165

15,207

APP-12343472.FP.FTS.B,

22.49%,

2/06/27

32,314

31,963

APP-11693729.FP.FTS.B,

22.99%,

2/06/27

15,515

15,377

APP-11923623.FP.FTS.B,

18.99%,

2/11/27

8,325

4,840

APP-11767224.FP.FTS.B,

10.99%,

2/15/27

23,097

23,426

APP-11799159.FP.FTS.B,

11.49%,

2/15/27

15,060

15,256

APP-11926207.FP.FTS.B,

16.49%,

2/15/27

14,016

14,175

APP-11694987.FP.FTS.B,

17.99%,

2/15/27

13,675

13,662

APP-11922307.FP.FTS.B,

20.49%,

2/15/27

11,298

11,217

APP-11919163.FP.FTS.B,

10.99%,

2/17/27

25,619

25,999

APP-11904406.FP.FTS.B,

11.24%,

2/19/27

17,681

17,954

APP-11942494.FP.FTS.B,

18.99%,

2/19/27

17,830

17,897

APP-11900316.FP.FTS.B,

13.49%,

2/20/27

16,738

17,002

APP-11940530.FP.FTS.B,

13.49%,

2/20/27

17,275

17,533

APP-11942190.FP.FTS.B,

18.49%,

2/20/27

11,966

12,017

APP-11509327.FP.FTS.B,

18.99%,

2/20/27

29,946

30,000

APP-11923837.FP.FTS.B,

19.74%,

2/20/27

37,725

37,672

APP-11944817.FP.FTS.B,

20.49%,

2/20/27

17,397

17,375

APP-11810142.FP.FTS.B,

10.99%,

2/21/27

23,201

23,592

APP-11878337.FP.FTS.B,

11.24%,

2/21/27

11,679

11,866

APP-11937475.FP.FTS.B,

16.49%,

2/21/27

23,608

23,712

APP-11928189.FP.FTS.B,

18.49%,

2/21/27

18,554

6,364

APP-11942720.FP.FTS.B,

18.49%,

2/21/27

18,640

18,709

APP-11939575.FP.FTS.B,

22.49%,

2/21/27

8,825

8,821

APP-11927887.FP.FTS.B,

9.24%,

2/22/27

.

11,999

12,194

APP-11861145.FP.FTS.B,

13.24%,

2/22/27

19,551

19,855

APP-11938772.FP.FTS.B,

14.49%,

2/22/27

7,630

7,760

APP-11941579.FP.FTS.B,

16.49%,

2/22/27

18,659

18,846

APP-11872292.FP.FTS.B,

19.99%,

2/22/27

13,227

13,224

APP-11940550.FP.FTS.B,

19.99%,

2/22/27

25,149

25,228

APP-12361627.FP.FTS.B,

8.99%,

3/07/27

.

23,305

23,607

APP-12232977.FP.FTS.B,

14.74%,

3/07/27

47,043

47,474

APP-12389833.FP.FTS.B,

16.49%,

3/07/27

11,320

11,304

APP-12183710.FP.FTS.B,

22.99%,

3/07/27

16,926

10,746

APP-12410874.FP.FTS.B,

10.99%,

3/08/27

23,390

23,696

APP-12418857.FP.FTS.B,

11.24%,

3/08/27

13,104

13,275

APP-12405015.FP.FTS.B,

13.24%,

3/08/27

19,063

19,284

APP-12415944.FP.FTS.B,

13.24%,

3/08/27

24,021

24,427

APP-12412062.FP.FTS.B,

16.49%,

3/08/27

25,482

25,722

APP-12308786.FP.FTS.B,

19.99%,

3/08/27

14,228

14,122

APP-12416735.FP.FTS.B,

11.24%,

3/15/27

12,432

12,619

APP-12032886.FP.FTS.B,

16.99%,

3/16/27

10,114

10,174

APP-12270423.FP.FTS.B,

22.49%,

3/16/27

7,178

7,170

APP-12384050.FP.FTS.B,

13.74%,

3/17/27

25,735

26,125

APP-12397582.FP.FTS.B,

19.99%,

3/18/27

23,904

23,979

APP-12408565.FP.FTS.B,

17.99%,

3/19/27

22,024

22,094

APP-12408445.FP.FTS.B,

20.99%,

3/19/27

12,532

12,516

APP-12270281.FP.FTS.B,

10.99%,

3/20/27

19,076

19,397

Description

Principal

Amount

Value

Freedom

Financial

Asset

Management

LLC

(continued)

APP-11947650.FP.FTS.B,

15.49%,

3/20/27

$

15,164

$

15,277

APP-12270508.FP.FTS.B,

8.99%,

3/21/27

.

23,967

24,331

APP-11694093.FP.FTS.B,

13.49%,

3/21/27

17,968

18,266

APP-12416845.FP.FTS.B,

16.24%,

3/21/27

37,982

38,574

APP-12287013.FP.FTS.B,

18.24%,

3/21/27

30,652

30,810

APP-12402081.FP.FTS.B,

18.49%,

3/21/27

27,300

27,332

APP-11940575.FP.FTS.B,

25.49%,

3/21/27

8,440

8,417

APP-12409854.FP.FTS.B,

10.99%,

3/22/27

30,760

31,296

APP-12412441.FP.FTS.B,

11.24%,

3/22/27

37,619

38,232

APP-12421438.FP.FTS.B,

11.24%,

3/22/27

11,262

11,459

APP-12410795.FP.FTS.B,

13.24%,

3/22/27

29,473

29,971

APP-12410619.FP.FTS.B,

19.74%,

3/22/27

722

324

APP-12412264.FP.FTS.B,

19.99%,

3/22/27

13,394

13,423

APP-13642414.FP.FTS.B,

17.99%,

4/11/27

24,664

24,819

APP-13643942.FP.FTS.B,

16.99%,

4/12/27

11,632

11,797

APP-11877626.FP.FTS.B,

13.59%,

4/14/27

38,557

39,104

APP-13608215.FP.FTS.B,

11.84%,

4/15/27

14,534

14,746

APP-13682302.FP.FTS.B,

18.49%,

4/15/27

9,950

10,008

APP-13824171.FP.FTS.B,

20.24%,

4/15/27

36,446

36,594

APP-13744711.FP.FTS.B,

26.49%,

4/15/27

7,770

7,764

APP-12119826.FP.FTS.B,

12.09%,

4/16/27

47,976

48,604

APP-13846094.FP.FTS.B,

19.49%,

4/16/27

7,254

7,308

APP-13767273.FP.FTS.B,

11.59%,

4/18/27

15,873

16,116

APP-13929153.FP.FTS.B,

9.59%,

4/20/27

.

13,098

13,293

APP-12398855.FP.FTS.B,

23.99%,

4/21/27

32,380

11,208

APP-12280955.FP.FTS.B,

23.24%,

4/22/27

24,976

2,868

APP-14057284.FP.FTS.B,

13.59%,

4/23/27

37,820

38,290

APP-13920277.FP.FTS.B,

17.99%,

4/24/27

21,278

21,492

APP-13899643.FP.FTS.B,

12.09%,

4/28/27

47,560

48,274

APP-14059320.FP.FTS.B,

16.99%,

4/30/27

24,566

24,850

APP-14099769.FP.FTS.B,

20.49%,

4/30/27

19,542

19,500

APP-14169390.FP.FTS.B,

22.24%,

4/30/27

22,978

22,905

APP-14199304.FP.FTS.B,

13.59%,

5/01/27

34,111

34,547

APP-14146465.FP.FTS.B,

17.99%,

5/01/27

14,657

14,735

APP-14187476.FP.FTS.B,

17.99%,

5/01/27

26,076

26,211

APP-14176600.FP.FTS.B,

22.99%,

5/01/27

11,164

11,150

APP-14087177.FP.FTS.B,

18.99%,

5/02/27

16,139

16,128

APP-14289803.FP.FTS.B,

22.49%,

5/02/27

9,266

9,264

APP-14041540.FP.FTS.B,

11.59%,

5/03/27

20,516

20,794

APP-14129708.FP.FTS.B,

11.34%,

5/05/27

32,750

33,239

APP-14177511.FP.FTS.B,

17.99%,

5/05/27

11,744

11,784

APP-14179808.FP.FTS.B,

17.99%,

5/05/27

27,402

27,586

APP-14119402.FP.FTS.B,

18.49%,

5/05/27

10,357

10,440

APP-14146069.FP.FTS.B,

18.49%,

5/05/27

16,642

16,698

APP-14172338.FP.FTS.B,

18.49%,

5/05/27

12,520

12,532

APP-14163190.FP.FTS.B,

18.74%,

5/05/27

31,525

31,690

APP-14163543.FP.FTS.B,

18.74%,

5/05/27

29,372

29,524

APP-14172523.FP.FTS.B,

26.49%,

5/05/27

10,820

10,845

APP-13965445.FP.FTS.B,

20.24%,

5/08/27

19,563

19,584

APP-14263477.FP.FTS.B,

21.99%,

5/10/27

17,642

17,666

APP-13484916.FP.FTS.B,

14.99%,

5/12/27

20,331

20,637

APP-14330285.FP.FTS.B,

11.74%,

5/13/27

25,845

26,274

APP-13484260.FP.FTS.B,

20.99%,

5/14/27

17,085

17,123

APP-13720484.FP.FTS.B,

11.34%,

5/15/27

38,487

39,081

APP-13483981.FP.FTS.B,

16.99%,

5/15/27

12,256

12,375

APP-13485148.FP.FTS.B,

18.49%,

5/15/27

29,116

29,354

APP-13526490.FP.FTS.B,

20.24%,

5/15/27

41,048

41,714

APP-13694672.FP.FTS.B,

24.99%,

5/15/27

29,255

29,368

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

84

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Freedom

Financial

Asset

Management

LLC

(continued)

APP-13597926.FP.FTS.B,

13.84%,

5/16/27

$

18,296

$

18,589

APP-13754354.FP.FTS.B,

11.34%,

5/17/27

30,810

31,320

APP-13725984.FP.FTS.B,

13.59%,

5/17/27

29,460

29,929

APP-13302047.FP.FTS.B,

13.74%,

5/17/27

10,325

10,497

APP-13417402.FP.FTS.B,

17.99%,

5/18/27

14,357

14,461

APP-13849753.FP.FTS.B,

9.34%,

5/20/27

.

30,727

31,219

APP-13484281.FP.FTS.B,

11.34%,

5/20/27

25,277

25,764

APP-13547748.FP.FTS.B,

12.09%,

5/20/27

48,382

49,327

APP-13485093.FP.FTS.B,

13.84%,

5/20/27

14,383

14,660

APP-13463111.FP.FTS.B,

16.74%,

5/20/27

42,472

43,280

APP-13768167.FP.FTS.B,

16.74%,

5/20/27

31,704

32,182

APP-13800465.FP.FTS.B,

18.49%,

5/20/27

11,624

11,684

APP-13529032.FP.FTS.B,

18.74%,

5/20/27

34,169

34,604

APP-13628826.FP.FTS.B,

19.49%,

5/20/27

26,572

26,883

APP-13705972.FP.FTS.B,

26.49%,

5/20/27

9,800

9,883

APP-13542298.FP.FTS.B,

11.34%,

5/21/27

24,743

25,228

APP-13811007.FP.FTS.B,

11.34%,

5/21/27

25,326

25,751

APP-13813291.FP.FTS.B,

11.59%,

5/21/27

14,441

14,683

APP-13827996.FP.FTS.B,

13.84%,

5/21/27

18,913

19,219

APP-13848454.FP.FTS.B,

16.09%,

5/21/27

11,057

11,236

APP-13845932.FP.FTS.B,

18.49%,

5/21/27

9,882

10,050

APP-13851876.FP.FTS.B,

18.99%,

5/21/27

24,240

24,506

APP-13767415.FP.FTS.B,

19.49%,

5/21/27

18,584

18,788

APP-13675017.FP.FTS.B,

20.49%,

5/21/27

14,624

14,757

APP-13826410.FP.FTS.B,

20.49%,

5/21/27

19,622

19,859

APP-13838022.FP.FTS.B,

22.49%,

5/21/27

7,779

7,856

APP-13660286.FP.FTS.B,

22.99%,

5/21/27

9,403

9,461

APP-13840262.FP.FTS.B,

23.49%,

5/21/27

12,165

12,251

APP-13849229.FP.FTS.B,

23.99%,

5/21/27

14,605

14,708

APP-13921670.FP.FTS.B,

18.49%,

5/24/27

11,203

11,357

APP-13828766.FP.FTS.B,

21.99%,

5/25/27

14,942

15,011

APP-13942898.FP.FTS.B,

16.74%,

5/26/27

36,580

36,942

APP-13628676.FP.FTS.B,

16.99%,

5/27/27

12,141

12,388

APP-13485109.FP.FTS.B,

20.49%,

5/27/27

11,741

11,890

APP-13961431.FP.FTS.B,

22.99%,

5/27/27

7,297

7,372

APP-13724215.FP.FTS.B,

10.09%,

5/28/27

46,060

46,961

APP-13751462.FP.FTS.B,

11.59%,

5/28/27

36,959

37,711

APP-13724206.FP.FTS.B,

13.59%,

5/28/27

21,324

21,752

APP-13574037.FP.FTS.B,

15.24%,

5/28/27

44,568

45,595

APP-13628755.FP.FTS.B,

19.49%,

5/28/27

10,291

10,470

APP-13521024.FP.FTS.B,

20.99%,

5/28/27

15,674

15,886

APP-13696300.FP.FTS.B,

13.84%,

5/29/27

14,730

14,990

APP-13932583.FP.FTS.B,

15.49%,

5/30/27

19,881

20,026

APP-13836108.FP.FTS.B,

13.59%,

5/31/27

39,209

39,867

APP-13852222.FP.FTS.B,

26.49%,

5/31/27

10,884

10,913

APP-11021518.FP.FTS.B,

11.34%,

6/01/27

26,856

27,297

APP-14965459.FP.FTS.B,

17.24%,

6/01/27

29,562

29,900

APP-13849366.FP.FTS.B,

19.49%,

6/01/27

8,966

5,031

APP-15037607.FP.FTS.B,

20.99%,

6/01/27

11,138

11,168

APP-13819936.FP.FTS.B,

13.59%,

6/02/27

21,582

21,957

APP-13623936.FP.FTS.B,

9.34%,

6/03/27

.

39,050

39,731

APP-13824222.FP.FTS.B,

11.59%,

6/03/27

11,729

11,926

APP-13827661.FP.FTS.B,

16.99%,

6/03/27

21,663

21,850

APP-13816811.FP.FTS.B,

18.99%,

6/03/27

19,732

19,914

APP-14795053.FP.FTS.B,

26.99%,

6/03/27

8,773

8,746

APP-13628843.FP.FTS.B,

16.99%,

6/04/27

12,480

12,633

APP-14115625.FP.FTS.B,

16.99%,

6/04/27

21,735

22,013

APP-14688354.FP.FTS.B,

17.49%,

6/04/27

25,383

25,704

Description

Principal

Amount

Value

Freedom

Financial

Asset

Management

LLC

(continued)

APP-14057755.FP.FTS.B,

19.49%,

6/05/27

$

10,828

$

10,926

APP-14164800.FP.FTS.B,

20.24%,

6/05/27

28,932

29,009

APP-15009891.FP.FTS.B,

20.74%,

6/05/27

30,834

30,891

APP-13965578.FP.FTS.B,

22.49%,

6/05/27

9,872

9,945

APP-14523726.FP.FTS.B,

23.24%,

6/05/27

16,105

16,108

APP-14190918.FP.FTS.B,

9.59%,

6/06/27

.

9,421

9,506

APP-14191584.FP.FTS.B,

11.34%,

6/06/27

36,208

36,841

APP-14200239.FP.FTS.B,

11.34%,

6/06/27

38,700

39,283

APP-14177752.FP.FTS.B,

11.59%,

6/06/27

25,257

25,639

APP-14165096.FP.FTS.B,

14.74%,

6/06/27

29,426

29,887

APP-14192451.FP.FTS.B,

17.99%,

6/06/27

28,885

29,156

APP-14083608.FP.FTS.B,

20.49%,

6/06/27

13,733

13,702

APP-14192777.FP.FTS.B,

20.49%,

6/06/27

14,708

14,778

APP-14197811.FP.FTS.B,

20.49%,

6/06/27

19,093

19,090

APP-13961157.FP.FTS.B,

12.09%,

6/07/27

47,973

48,655

APP-14143499.FP.FTS.B,

17.24%,

6/07/27

32,560

32,883

APP-14225512.FP.FTS.B,

20.49%,

6/07/27

9,783

9,820

APP-14212766.FP.FTS.B,

26.49%,

6/07/27

9,822

9,788

APP-13625696.FP.FTS.B,

11.59%,

6/09/27

14,690

14,964

APP-13969567.FP.FTS.B,

20.49%,

6/09/27

19,759

19,891

APP-14925385.FP.FTS.B,

15.49%,

6/10/27

14,937

15,134

APP-13914635.FP.FTS.B,

20.99%,

6/10/27

19,582

19,728

APP-15045243.FP.FTS.B,

21.49%,

6/10/27

19,227

19,318

APP-14179267.FP.FTS.B,

17.24%,

6/11/27

47,533

48,172

APP-14197185.FP.FTS.B,

20.49%,

6/12/27

19,680

19,844

APP-14313248.FP.FTS.B,

22.99%,

6/12/27

9,530

9,575

APP-14221142.FP.FTS.B,

24.24%,

6/12/27

22,846

22,990

APP-14324970.FP.FTS.B,

24.74%,

6/12/27

13,759

13,846

APP-14346312.FP.FTS.B,

11.74%,

6/13/27

21,133

21,485

APP-14189919.FP.FTS.B,

20.49%,

6/13/27

15,557

15,696

APP-14178588.FP.FTS.B,

22.99%,

6/13/27

7,500

7,666

APP-14217163.FP.FTS.B,

11.34%,

6/14/27

19,532

19,866

APP-14226274.FP.FTS.B,

10.84%,

6/15/27

29,294

29,805

APP-14190684.FP.FTS.B,

13.59%,

6/15/27

39,194

39,918

APP-14199496.FP.FTS.B,

18.49%,

6/15/27

26,313

27,060

APP-14176860.FP.FTS.B,

20.24%,

6/15/27

29,565

29,919

APP-14193858.FP.FTS.B,

20.24%,

6/15/27

34,492

34,840

APP-14227617.FP.FTS.B,

20.99%,

6/15/27

9,826

9,920

APP-14265655.FP.FTS.B,

21.99%,

6/15/27

11,995

12,101

APP-14197537.FP.FTS.B,

22.99%,

6/15/27

10,173

10,282

APP-14128298.FP.FTS.B,

23.99%,

6/15/27

14,827

14,965

APP-14219059.FP.FTS.B,

11.34%,

6/16/27

19,544

19,891

APP-15597460.FP.FTS.B,

16.49%,

6/16/27

31,087

31,451

APP-14308655.FP.FTS.B,

20.74%,

6/16/27

49,150

49,648

APP-14225272.FP.FTS.B,

22.49%,

6/16/27

8,750

2,910

APP-14301553.FP.FTS.B,

22.49%,

6/16/27

18,654

18,829

APP-14046117.FP.FTS.B,

9.59%,

6/17/27

.

16,151

16,455

APP-14151947.FP.FTS.B,

10.84%,

6/17/27

29,339

29,901

APP-14138938.FP.FTS.B,

11.59%,

6/17/27

16,477

16,796

APP-14194032.FP.FTS.B,

13.59%,

6/17/27

24,515

24,986

APP-14104736.FP.FTS.B,

15.49%,

6/17/27

15,718

16,012

APP-14188906.FP.FTS.B,

16.99%,

6/17/27

19,675

20,052

APP-13945124.FP.FTS.B,

20.49%,

6/17/27

21,055

21,702

APP-14171682.FP.FTS.B,

20.49%,

6/17/27

20,000

20,615

APP-14160914.FP.FTS.B,

20.99%,

6/17/27

18,078

18,288

APP-14132105.FP.FTS.B,

22.99%,

6/17/27

29,688

30,023

APP-14200894.FP.FTS.B,

23.49%,

6/17/27

13,356

13,499

APP-14243912.FP.FTS.B,

26.49%,

6/17/27

8,392

8,482

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

85

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Freedom

Financial

Asset

Management

LLC

(continued)

APP-14301044.FP.FTS.B,

26.49%,

6/17/27

$

8,886

$

8,977

APP-14057430.FP.FTS.B,

14.09%,

6/18/27

25,858

26,375

APP-13921051.FP.FTS.B,

14.74%,

6/18/27

39,776

40,526

APP-14154320.FP.FTS.B,

15.49%,

6/18/27

18,299

5,259

APP-14057201.FP.FTS.B,

15.99%,

6/18/27

11,940

12,155

APP-14108410.FP.FTS.B,

17.49%,

6/18/27

26,313

26,788

APP-13986857.FP.FTS.B,

20.49%,

6/18/27

14,820

15,027

APP-14108165.FP.FTS.B,

20.49%,

6/18/27

18,019

18,224

APP-14152014.FP.FTS.B,

20.49%,

6/18/27

10,428

10,611

APP-14194987.FP.FTS.B,

20.49%,

6/18/27

24,685

25,027

APP-14180533.FP.FTS.B,

20.99%,

6/18/27

17,781

17,997

APP-13962367.FP.FTS.B,

21.49%,

6/18/27

37,000

37,608

APP-13710175.FP.FTS.B,

22.24%,

6/18/27

22,914

23,182

APP-14181527.FP.FTS.B,

22.49%,

6/18/27

14,837

15,011

APP-14066107.FP.FTS.B,

9.34%,

6/19/27

.

39,081

39,833

APP-14193881.FP.FTS.B,

10.09%,

6/19/27

48,763

49,711

APP-14157257.FP.FTS.B,

11.34%,

6/19/27

19,582

19,972

APP-14170154.FP.FTS.B,

11.59%,

6/19/27

11,752

11,987

APP-14194451.FP.FTS.B,

16.99%,

6/19/27

19,913

20,344

APP-13928225.FP.FTS.B,

17.99%,

6/19/27

11,828

12,018

APP-14165192.FP.FTS.B,

17.99%,

6/19/27

19,435

19,802

APP-14159215.FP.FTS.B,

18.49%,

6/19/27

10,954

11,183

APP-14191093.FP.FTS.B,

18.99%,

6/19/27

19,732

20,034

APP-14190473.FP.FTS.B,

19.49%,

6/19/27

9,870

10,034

APP-14195378.FP.FTS.B,

19.49%,

6/19/27

28,427

28,867

APP-14218349.FP.FTS.B,

19.49%,

6/19/27

7,489

7,596

APP-14163708.FP.FTS.B,

20.24%,

6/19/27

30,237

30,614

APP-14025039.FP.FTS.B,

20.49%,

6/19/27

12,844

13,005

APP-14034800.FP.FTS.B,

22.24%,

6/19/27

19,791

20,034

APP-14326267.FP.FTS.B,

23.74%,

6/19/27

30,000

30,973

APP-14194801.FP.FTS.B,

11.34%,

6/20/27

19,588

19,984

APP-14202174.FP.FTS.B,

11.59%,

6/20/27

12,736

12,994

APP-14202404.FP.FTS.B,

12.09%,

6/20/27

49,009

50,013

APP-14077334.FP.FTS.B,

13.59%,

6/20/27

28,797

29,298

APP-14188625.FP.FTS.B,

13.59%,

6/20/27

19,612

19,980

APP-14162980.FP.FTS.B,

16.74%,

6/20/27

36,747

37,230

APP-14057492.FP.FTS.B,

16.99%,

6/20/27

14,582

14,733

APP-14066475.FP.FTS.B,

17.99%,

6/20/27

25,948

26,380

APP-14194952.FP.FTS.B,

17.99%,

6/20/27

19,658

19,984

APP-14178343.FP.FTS.B,

18.74%,

6/20/27

36,551

37,127

APP-14198467.FP.FTS.B,

18.99%,

6/20/27

26,134

26,467

APP-14225057.FP.FTS.B,

18.99%,

6/20/27

21,287

21,577

APP-14221223.FP.FTS.B,

19.24%,

6/20/27

47,316

47,963

APP-14172834.FP.FTS.B,

20.99%,

6/20/27

11,350

11,501

APP-14159440.FP.FTS.B,

21.99%,

6/20/27

15,344

15,531

APP-14195756.FP.FTS.B,

22.49%,

6/20/27

15,840

16,043

APP-14199815.FP.FTS.B,

22.49%,

6/20/27

11,060

11,234

APP-08640096.FP.FTS.B,

11.34%,

6/21/27

27,406

27,936

APP-14206394.FP.FTS.B,

11.34%,

6/21/27

24,469

24,942

APP-14216686.FP.FTS.B,

20.49%,

6/21/27

13,922

14,081

APP-14317227.FP.FTS.B,

20.74%,

6/21/27

37,464

37,958

APP-14278564.FP.FTS.B,

20.49%,

6/24/27

12,343

12,527

APP-14322330.FP.FTS.B,

20.99%,

6/24/27

17,682

17,975

APP-14292674.FP.FTS.B,

21.99%,

6/25/27

17,017

17,269

APP-14215379.FP.FTS.B,

17.49%,

6/26/27

17,627

18,007

APP-14210614.FP.FTS.B,

20.49%,

6/26/27

24,714

25,113

APP-14343626.FP.FTS.B,

20.99%,

6/26/27

9,983

10,202

APP-14353491.FP.FTS.B,

22.74%,

6/26/27

11,843

12,031

Description

Principal

Amount

Value

Freedom

Financial

Asset

Management

LLC

(continued)

APP-13787332.FP.FTS.B,

11.34%,

6/27/27

$

24,975

$

25,500

APP-14044460.FP.FTS.B,

13.34%,

6/27/27

12,396

12,660

APP-14178884.FP.FTS.B,

17.49%,

6/27/27

23,609

24,028

APP-14346063.FP.FTS.B,

18.49%,

6/27/27

24,666

25,138

APP-14335387.FP.FTS.B,

19.49%,

6/27/27

20,965

21,428

APP-14335800.FP.FTS.B,

19.99%,

6/27/27

14,559

14,834

APP-14341730.FP.FTS.B,

20.99%,

6/27/27

14,341

14,582

APP-13701227.FP.FTS.B,

22.99%,

6/28/27

8,304

8,451

APP-13695730.FP.FTS.B,

26.49%,

6/28/27

7,396

7,529

APP-15557986.FP.FTS.B,

10.99%,

6/30/27

42,000

42,839

APP-15494302.FP.FTS.B,

12.24%,

6/30/27

40,069

40,921

APP-15572001.FP.FTS.B,

12.24%,

6/30/27

25,336

25,841

APP-15748724.FP.FTS.B,

12.49%,

7/01/27

24,000

24,457

APP-15753390.FP.FTS.B,

26.99%,

7/01/27

10,000

10,055

APP-15425472.FP.FTS.B,

18.99%,

7/02/27

31,000

31,634

APP-15635946.FP.FTS.B,

24.74%,

7/03/27

16,000

16,368

APP-15718781.FP.FTS.B,

26.74%,

7/03/27

14,500

14,591

APP-15706980.FP.FTS.B,

26.99%,

7/03/27

7,500

7,670

APP-15653357.FP.FTS.B,

21.24%,

7/04/27

8,000

8,092

APP-15686162.FP.FTS.B,

25.24%,

7/05/27

19,470

19,631

APP-14883847.FP.FTS.B,

17.24%,

7/06/27

7,415

7,524

APP-15716454.FP.FTS.B,

20.24%,

7/06/27

18,300

18,733

APP-15556990.FP.FTS.B,

21.24%,

7/06/27

10,000

10,126

APP-14902078.FP.FTS.B,

11.74%,

7/07/27

24,672

25,068

APP-14904704.FP.FTS.B,

13.99%,

7/07/27

37,553

38,127

APP-14911217.FP.FTS.B,

13.99%,

7/07/27

23,718

24,080

APP-15744265.FP.FTS.B,

14.49%,

7/07/27

20,000

20,414

APP-14915051.FP.FTS.B,

11.74%,

7/08/27

39,514

40,191

APP-14935613.FP.FTS.B,

11.99%,

7/08/27

12,860

13,081

APP-14923950.FP.FTS.B,

13.74%,

7/08/27

12,836

13,037

APP-14844069.FP.FTS.B,

16.49%,

7/08/27

27,371

27,887

APP-14917832.FP.FTS.B,

16.49%,

7/08/27

14,841

15,029

APP-14923618.FP.FTS.B,

16.49%,

7/08/27

14,841

15,030

APP-14840263.FP.FTS.B,

17.49%,

7/08/27

26,565

26,987

APP-16068831.FP.FTS.B,

16.74%,

7/10/27

23,686

24,067

APP-14921328.FP.FTS.B,

17.24%,

7/10/27

39,586

40,242

APP-14530395.FP.FTS.B,

17.49%,

7/10/27

23,768

24,161

APP-14994439.FP.FTS.B,

19.99%,

7/10/27

17,927

18,270

APP-15007157.FP.FTS.B,

20.99%,

7/11/27

11,869

11,933

APP-15024354.FP.FTS.B,

24.24%,

7/11/27

12,866

12,912

APP-14991877.FP.FTS.B,

26.99%,

7/11/27

9,902

9,932

APP-14868239.FP.FTS.B,

11.99%,

7/12/27

11,939

12,159

APP-15005993.FP.FTS.B,

13.99%,

7/12/27

29,585

29,996

APP-15042164.FP.FTS.B,

13.99%,

7/12/27

20,745

21,057

APP-14709072.FP.FTS.B,

17.49%,

7/12/27

20,356

20,719

APP-15039779.FP.FTS.B,

17.49%,

7/12/27

21,753

22,052

APP-15008780.FP.FTS.B,

19.99%,

7/12/27

16,941

17,249

APP-15043011.FP.FTS.B,

23.74%,

7/12/27

30,044

30,389

APP-15023218.FP.FTS.B,

23.99%,

7/12/27

26,738

26,868

APP-15042638.FP.FTS.B,

26.99%,

7/12/27

9,909

9,948

APP-16045778.FP.FTS.B,

22.49%,

7/13/27

10,500

10,758

APP-15056624.FP.FTS.B,

22.99%,

7/13/27

10,898

10,985

APP-14930206.FP.FTS.B,

14.49%,

7/14/27

11,259

11,480

APP-14689546.FP.FTS.B,

11.74%,

7/15/27

29,316

29,884

APP-14818480.FP.FTS.B,

11.74%,

7/15/27

39,604

40,373

APP-14821859.FP.FTS.B,

11.74%,

7/15/27

20,996

21,398

APP-14914496.FP.FTS.B,

11.74%,

7/15/27

39,604

40,373

APP-15114820.FP.FTS.B,

11.74%,

7/15/27

19,751

20,091

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

86

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Freedom

Financial

Asset

Management

LLC

(continued)

APP-13767685.FP.FTS.B,

11.99%,

7/15/27

$

20,110

$

20,491

APP-14996949.FP.FTS.B,

11.99%,

7/15/27

15,924

16,230

APP-15137192.FP.FTS.B,

11.99%,

7/15/27

17,382

17,682

APP-15037710.FP.FTS.B,

18.99%,

7/15/27

14,365

14,537

APP-15040717.FP.FTS.B,

20.99%,

7/15/27

8,922

9,043

APP-15041101.FP.FTS.B,

20.99%,

7/15/27

16,853

17,069

APP-15037062.FP.FTS.B,

21.49%,

7/15/27

25,779

26,085

APP-15039028.FP.FTS.B,

22.99%,

7/16/27

7,941

8,047

APP-14843307.FP.FTS.B,

11.99%,

7/17/27

14,864

15,163

APP-14866235.FP.FTS.B,

12.74%,

7/17/27

48,937

49,816

APP-14123428.FP.FTS.B,

24.24%,

7/17/27

24,766

25,039

APP-14906097.FP.FTS.B,

16.74%,

7/18/27

49,338

50,053

APP-14882502.FP.FTS.B,

11.74%,

7/19/27

23,793

24,286

APP-14811744.FP.FTS.B,

13.99%,

7/19/27

34,749

35,476

APP-14688586.FP.FTS.B,

17.49%,

7/19/27

26,766

27,335

APP-14058557.FP.FTS.B,

22.99%,

7/19/27

10,404

10,546

APP-14174912.FP.FTS.B,

22.99%,

7/19/27

31,189

31,880

APP-14160424.FP.FTS.B,

23.99%,

7/19/27

16,959

17,246

APP-14175358.FP.FTS.B,

26.49%,

7/19/27

7,455

7,588

APP-14057681.FP.FTS.B,

11.99%,

7/20/27

11,973

12,226

APP-14766983.FP.FTS.B,

13.99%,

7/20/27

39,729

40,575

APP-14859116.FP.FTS.B,

13.99%,

7/20/27

19,864

20,287

APP-14911982.FP.FTS.B,

15.99%,

7/20/27

18,896

19,298

APP-14902830.FP.FTS.B,

16.24%,

7/20/27

39,787

40,515

APP-14903565.FP.FTS.B,

16.74%,

7/20/27

49,750

50,669

APP-14876648.FP.FTS.B,

17.49%,

7/20/27

23,383

23,891

APP-14986109.FP.FTS.B,

19.99%,

7/20/27

26,313

27,104

APP-14191366.FP.FTS.B,

22.49%,

7/20/27

14,856

15,049

APP-14197634.FP.FTS.B,

22.99%,

7/20/27

29,726

30,118

APP-15056862.FP.FTS.B,

22.99%,

7/20/27

19,902

20,195

APP-14122876.FP.FTS.B,

23.49%,

7/20/27

34,895

35,512

APP-14688432.FP.FTS.B,

9.99%,

7/21/27

.

12,395

12,650

APP-14865961.FP.FTS.B,

11.74%,

7/21/27

35,515

36,274

APP-14931619.FP.FTS.B,

11.99%,

7/21/27

34,727

35,455

APP-14937680.FP.FTS.B,

11.99%,

7/21/27

17,860

18,243

APP-14938376.FP.FTS.B,

11.99%,

7/21/27

14,883

15,203

APP-14881643.FP.FTS.B,

17.49%,

7/21/27

21,612

22,094

APP-14753736.FP.FTS.B,

19.99%,

7/21/27

7,457

7,589

APP-14877061.FP.FTS.B,

9.99%,

7/22/27

.

16,344

16,685

APP-14728435.FP.FTS.B,

11.99%,

7/22/27

12,903

13,184

APP-14688218.FP.FTS.B,

13.99%,

7/22/27

24,794

25,342

APP-15046782.FP.FTS.B,

17.74%,

7/22/27

49,685

50,678

APP-15030718.FP.FTS.B,

18.24%,

7/22/27

40,156

40,876

APP-14917772.FP.FTS.B,

19.99%,

7/22/27

7,976

8,143

APP-15028560.FP.FTS.B,

23.24%,

7/22/27

15,944

16,201

APP-14948878.FP.FTS.B,

12.24%,

7/23/27

16,374

16,728

APP-14529813.FP.FTS.B,

18.24%,

7/23/27

37,866

38,654

APP-14859157.FP.FTS.B,

19.24%,

7/24/27

39,906

40,749

APP-15046961.FP.FTS.B,

20.99%,

7/24/27

19,931

20,278

APP-15030457.FP.FTS.B,

22.99%,

7/24/27

7,981

8,131

APP-14078519.FP.FTS.B,

24.24%,

7/24/27

21,869

21,964

APP-15016451.FP.FTS.B,

17.49%,

7/25/27

28,217

28,820

APP-15034481.FP.FTS.B,

20.99%,

7/25/27

19,942

20,302

APP-15044155.FP.FTS.B,

20.99%,

7/25/27

19,942

20,302

APP-15024147.FP.FTS.B,

22.99%,

7/25/27

7,492

7,638

APP-14314279.FP.FTS.B,

23.49%,

7/25/27

7,628

7,755

APP-15048932.FP.FTS.B,

11.99%,

7/26/27

16,862

17,222

APP-14323987.FP.FTS.B,

23.49%,

7/26/27

8,922

9,112

Description

Principal

Amount

Value

Freedom

Financial

Asset

Management

LLC

(continued)

APP-15069494.FP.FTS.B,

11.99%,

7/27/27

$

15,667

$

16,011

APP-15053109.FP.FTS.B,

11.74%,

7/29/27

20,000

20,439

APP-15578753.FP.FTS.B,

11.74%,

8/01/27

30,000

30,512

APP-15576948.FP.FTS.B,

12.24%,

8/01/27

34,999

35,708

APP-15589829.FP.FTS.B,

16.99%,

8/01/27

10,500

10,714

APP-15589795.FP.FTS.B,

18.74%,

8/01/27

21,000

21,329

APP-15361603.FP.FTS.B,

19.74%,

8/01/27

18,000

18,218

APP-15590969.FP.FTS.B,

20.49%,

8/01/27

31,500

32,200

APP-15572855.FP.FTS.B,

21.24%,

8/01/27

7,500

7,591

APP-15453063.FP.FTS.B,

24.74%,

8/01/27

12,000

12,281

APP-15584134.FP.FTS.B,

12.99%,

8/03/27

26,313

26,860

APP-15593533.FP.FTS.B,

22.24%,

8/05/27

10,000

10,130

APP-15682350.FP.FTS.B,

22.24%,

8/05/27

20,950

21,142

APP-15713621.FP.FTS.B,

12.49%,

8/06/27

17,225

17,517

APP-15751991.FP.FTS.B,

12.49%,

8/07/27

15,434

15,701

APP-15422820.FP.FTS.B,

19.24%,

8/07/27

26,313

26,988

APP-15738510.FP.FTS.B,

21.99%,

8/07/27

41,162

41,639

APP-15580065.FP.FTS.B,

25.24%,

8/07/27

15,000

15,380

APP-15763190.FP.FTS.B,

22.24%,

8/08/27

25,400

26,051

APP-15743089.FP.FTS.B,

16.74%,

8/10/27

25,000

25,436

APP-15600789.FP.FTS.B,

22.24%,

8/10/27

7,500

7,620

APP-15634817.FP.FTS.B,

25.24%,

8/10/27

17,000

17,489

APP-15576572.FP.FTS.B,

20.74%,

8/11/27

19,486

20,038

APP-15575823.FP.FTS.B,

26.99%,

8/11/27

10,300

10,610

APP-15231441.FP.FTS.B,

16.99%,

8/12/27

46,922

48,110

APP-15558741.FP.FTS.B,

19.49%,

8/12/27

37,968

38,628

APP-15307313.FP.FTS.B,

22.24%,

8/12/27

16,000

16,435

APP-15594246.FP.FTS.B,

25.49%,

8/12/27

26,400

26,771

APP-16035258.FP.FTS.B,

13.24%,

8/13/27

12,000

12,212

APP-15576373.FP.FTS.B,

19.24%,

8/13/27

15,000

15,421

APP-15302717.FP.FTS.B,

20.24%,

8/13/27

21,200

21,509

APP-15437840.FP.FTS.B,

20.24%,

8/13/27

15,788

16,251

APP-16046092.FP.FTS.B,

20.49%,

8/13/27

21,797

22,336

APP-16055829.FP.FTS.B,

12.99%,

8/14/27

12,000

12,269

APP-15595170.FP.FTS.B,

15.24%,

8/14/27

50,000

51,071

APP-15805332.FP.FTS.B,

18.74%,

8/14/27

24,760

25,187

APP-15398570.FP.FTS.B,

18.99%,

8/14/27

47,200

48,466

APP-16079598.FP.FTS.B,

20.49%,

8/14/27

20,000

20,506

APP-15459856.FP.FTS.B,

20.74%,

8/14/27

19,900

20,498

APP-16063371.FP.FTS.B,

20.99%,

8/14/27

25,000

25,389

APP-15638158.FP.FTS.B,

21.24%,

8/14/27

9,600

9,749

APP-15526033.FP.FTS.B,

21.74%,

8/14/27

20,048

20,391

APP-14058523.FP.FTS.B,

21.99%,

8/14/27

32,629

33,190

APP-15544937.FP.FTS.B,

22.24%,

8/14/27

22,309

22,694

APP-15802156.FP.FTS.B,

22.24%,

8/14/27

15,000

15,219

APP-15356967.FP.FTS.B,

22.49%,

8/14/27

49,995

51,492

APP-15589634.FP.FTS.B,

22.74%,

8/14/27

19,246

19,835

APP-15460819.FP.FTS.B,

23.24%,

8/14/27

17,800

18,353

APP-15525700.FP.FTS.B,

10.24%,

8/15/27

26,223

26,851

APP-15578534.FP.FTS.B,

11.74%,

8/15/27

31,000

31,570

APP-15398960.FP.FTS.B,

12.99%,

8/15/27

42,844

43,910

APP-15709743.FP.FTS.B,

14.49%,

8/15/27

40,000

40,955

APP-15299307.FP.FTS.B,

14.99%,

8/15/27

29,600

30,244

APP-15544956.FP.FTS.B,

18.74%,

8/15/27

15,500

15,844

APP-15710954.FP.FTS.B,

18.99%,

8/15/27

31,000

31,844

APP-15662840.FP.FTS.B,

19.24%,

8/15/27

20,000

20,545

APP-15598006.FP.FTS.B,

19.74%,

8/15/27

29,999

30,571

APP-15570179.FP.FTS.B,

19.99%,

8/15/27

44,427

45,279

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

87

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Freedom

Financial

Asset

Management

LLC

(continued)

APP-15574568.FP.FTS.B,

20.24%,

8/15/27

$

29,700

$

30,587

APP-15587285.FP.FTS.B,

20.24%,

8/15/27

27,000

27,464

APP-15702332.FP.FTS.B,

20.24%,

8/15/27

10,000

10,253

APP-15681530.FP.FTS.B,

20.49%,

8/15/27

35,000

35,980

APP-15744959.FP.FTS.B,

20.49%,

8/15/27

35,000

35,981

APP-15519399.FP.FTS.B,

21.99%,

8/15/27

31,576

32,089

APP-15585228.FP.FTS.B,

22.24%,

8/15/27

23,000

23,714

APP-15747924.FP.FTS.B,

22.24%,

8/15/27

12,630

12,823

APP-15869507.FP.FTS.B,

22.99%,

8/15/27

50,000

50,784

APP-16074588.FP.FTS.B,

23.49%,

8/15/27

15,000

15,436

APP-16075494.FP.FTS.B,

23.49%,

8/15/27

8,000

8,126

APP-15703197.FP.FTS.B,

26.99%,

8/15/27

27,500

27,914

APP-15763149.FP.FTS.B,

26.99%,

8/15/27

10,400

10,557

APP-15868809.FP.FTS.B,

12.99%,

8/16/27

34,366

35,119

APP-13337190.FP.FTS.B,

18.99%,

8/16/27

14,614

14,952

APP-15684113.FP.FTS.B,

20.74%,

8/18/27

22,000

22,412

APP-15602475.FP.FTS.B,

12.49%,

8/19/27

17,729

18,107

APP-15591313.FP.FTS.B,

20.74%,

8/19/27

13,683

14,098

APP-15601188.FP.FTS.B,

21.24%,

8/19/27

48,553

49,448

APP-15653079.FP.FTS.B,

21.24%,

8/19/27

10,000

10,201

APP-15721763.FP.FTS.B,

14.24%,

8/20/27

12,000

12,310

APP-15598086.FP.FTS.B,

17.74%,

8/20/27

8,000

8,183

APP-15697643.FP.FTS.B,

19.24%,

8/20/27

20,066

20,469

APP-15811836.FP.FTS.B,

19.74%,

8/20/27

25,000

25,470

APP-15742698.FP.FTS.B,

20.74%,

8/20/27

19,788

20,431

APP-15745396.FP.FTS.B,

21.24%,

8/20/27

26,936

27,475

APP-15764379.FP.FTS.B,

22.24%,

8/20/27

26,313

26,824

APP-15741986.FP.FTS.B,

12.49%,

8/21/27

31,400

32,078

APP-15737768.FP.FTS.B,

17.74%,

8/21/27

17,723

18,079

APP-15499870.FP.FTS.B,

18.99%,

8/21/27

30,000

30,615

APP-15671359.FP.FTS.B,

20.24%,

8/21/27

12,000

12,395

APP-15739044.FP.FTS.B,

20.24%,

8/21/27

16,000

16,512

APP-15741019.FP.FTS.B,

20.74%,

8/21/27

20,000

20,629

APP-15602128.FP.FTS.B,

21.74%,

8/21/27

13,400

13,666

APP-15495873.FP.FTS.B,

22.24%,

8/21/27

15,000

15,283

APP-15663958.FP.FTS.B,

22.24%,

8/21/27

14,000

14,281

APP-15745269.FP.FTS.B,

22.24%,

8/21/27

15,498

16,018

APP-16024812.FP.FTS.B,

12.99%,

8/22/27

12,000

12,295

APP-15879111.FP.FTS.B,

24.99%,

8/22/27

34,800

35,493

APP-14706046.FP.FTS.B,

26.99%,

8/23/27

8,492

8,640

APP-15037668.FP.FTS.B,

26.99%,

8/23/27

10,515

10,696

APP-15006613.FP.FTS.B,

23.49%,

8/25/27

8,420

8,575

APP-15038278.FP.FTS.B,

25.99%,

8/25/27

29,099

29,638

APP-14983588.FP.FTS.B,

26.99%,

8/25/27

7,500

7,759

APP-14178173.FP.FTS.B,

15.24%,

8/26/27

21,498

21,985

APP-15871509.FP.FTS.B,

20.49%,

8/26/27

18,100

18,695

APP-16071674.FP.FTS.B,

22.49%,

8/26/27

10,500

10,842

APP-15043328.FP.FTS.B,

22.74%,

8/26/27

13,483

13,735

APP-14920951.FP.FTS.B,

23.49%,

8/26/27

7,971

8,123

APP-14977194.FP.FTS.B,

26.99%,

8/26/27

11,999

12,428

APP-16053754.FP.FTS.B,

10.99%,

8/27/27

32,838

33,667

APP-15234987.FP.FTS.B,

16.74%,

8/27/27

29,238

29,916

APP-15803871.FP.FTS.B,

19.49%,

8/27/27

36,125

36,938

APP-14372060.FP.FTS.B,

21.99%,

8/27/27

22,455

22,969

APP-16061296.FP.FTS.B,

23.49%,

8/27/27

14,000

14,515

APP-16074435.FP.FTS.B,

23.49%,

8/27/27

24,000

24,548

APP-12674078.FP.FTS.B,

20.24%,

8/28/27

30,527

31,537

APP-16019364.FP.FTS.B,

20.99%,

8/28/27

28,854

29,815

Description

Principal

Amount

Value

Freedom

Financial

Asset

Management

LLC

(continued)

APP-15589159.FP.FTS.B,

26.74%,

9/14/27

$

18,000

$

18,285

APP-15579680.FP.FTS.B,

26.99%,

9/14/27

25,000

25,808

APP-15593379.FP.FTS.B,

24.74%,

9/15/27

8,100

8,239

APP-15584156.FP.FTS.B,

26.99%,

9/15/27

11,500

11,878

APP-15651111.FP.FTS.B,

24.99%,

9/18/27

23,900

24,685

APP-15706743.FP.FTS.B,

24.24%,

9/20/27

10,000

10,326

APP-15738048.FP.FTS.B,

24.99%,

9/20/27

21,000

21,381

APP-15718443.FP.FTS.B,

26.99%,

9/20/27

25,000

25,878

APP-15601763.FP.FTS.B,

24.24%,

9/21/27

11,543

11,781

APP-15754577.FP.FTS.B,

24.24%,

9/21/27

11,300

11,676

APP-15757316.FP.FTS.B,

24.99%,

9/21/27

21,050

21,785

APP-15593978.FP.FTS.B,

26.74%,

9/21/27

15,789

16,095

APP-15723564.FP.FTS.B,

26.99%,

9/21/27

8,000

8,287

APP-15725666.FP.FTS.B,

26.99%,

9/21/27

7,500

7,766

APP-15726434.FP.FTS.B,

26.99%,

9/21/27

11,100

11,498

APP-15758289.FP.FTS.B,

26.99%,

9/21/27

10,500

10,876

20,747,376

LendingClub

Corp.

157574581.LC.FTS.B,

12.4%,

8/29/22

...

181

181

157754104.LC.FTS.B,

17.74%,

9/05/22

...

1,129

1,126

158125924.LC.FTS.B,

17.74%,

9/05/22

...

935

935

158254705.LC.FTS.B,

16.12%,

9/06/22

...

345

345

158260715.LC.FTS.B,

17.74%,

9/06/22

...

898

899

158364500.LC.FTS.B,

14.3%,

9/09/22

...

4,939

4,065

158097787.LC.FTS.B,

11.02%,

9/10/22

...

654

652

158402613.LC.FTS.B,

17.74%,

9/10/22

...

83

83

158664026.LC.FTS.B,

12.4%,

9/13/22

...

1,623

1,621

158704738.LC.FTS.B,

16.12%,

9/18/22

...

1,770

1,769

158886007.LC.FTS.B,

17.74%,

9/18/22

...

70

70

158988055.LC.FTS.B,

11.71%,

9/19/22

...

2,608

2,611

159095246.LC.FTS.B,

14.3%,

9/23/22

...

1,348

1,356

158754454.LC.FTS.B,

16.12%,

9/23/22

...

1,295

1,287

158336156.LC.FTS.B,

17.74%,

9/23/22

...

4,420

4,191

159100492.LC.FTS.B,

17.74%,

9/23/22

...

3,215

3,196

159138425.LC.FTS.B,

17.74%,

9/23/22

...

2,106

2,095

159234053.LC.FTS.B,

16.12%,

9/24/22

...

759

764

158532011.LC.FTS.B,

16.95%,

9/30/22

...

858

859

159510570.LC.FTS.B,

20.55%,

9/30/22

...

434

433

159483749.LC.FTS.B,

17.74%,

10/01/22

..

896

889

159824306.LC.FTS.B,

17.74%,

10/04/22

..

2,122

2,095

141408322.LC.FTS.B,

5%,

10/05/22

.....

2,619

2,614

159963198.LC.FTS.B,

13.08%,

10/08/22

..

1,290

1,282

159906657.LC.FTS.B,

17.74%,

10/08/22

..

2,795

2,784

160025695.LC.FTS.B,

17.74%,

10/09/22

..

939

939

160350926.LC.FTS.B,

17.74%,

10/15/22

..

779

780

160697113.LC.FTS.B,

12.4%,

10/21/22

...

2,923

2,921

160673463.LC.FTS.B,

16.95%,

10/21/22

..

1,247

1,251

159927355.LC.FTS.B,

17.74%,

10/21/22

..

1,679

1,684

159868781.LC.FTS.B,

18.62%,

10/21/22

..

1,464

1,454

160772190.LC.FTS.B,

14.3%,

10/23/22

...

828

828

160892664.LC.FTS.B,

13.08%,

10/25/22

..

667

661

160802725.LC.FTS.B,

16.95%,

10/25/22

..

614

617

160928296.LC.FTS.B,

17.74%,

10/29/22

..

7,047

6,727

161470722.LC.FTS.B,

11.71%,

11/06/22

..

1,131

1,123

161421905.LC.FTS.B,

18.62%,

11/13/22

..

492

491

161762172.LC.FTS.B,

20.55%,

11/13/22

..

1,998

1,993

161908164.LC.FTS.B,

16.95%,

11/14/22

..

1,393

1,387

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

88

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

LendingClub

Corp.

(continued)

161690374.LC.FTS.B,

13.08%,

11/15/22

..

$

1,313

$

1,308

161942065.LC.FTS.B,

17.74%,

11/15/22

..

8,679

6,983

162124367.LC.FTS.B,

11.71%,

11/19/22

..

4,174

4,036

162135214.LC.FTS.B,

16.95%,

11/19/22

..

1,376

1,376

162163074.LC.FTS.B,

17.74%,

11/20/22

..

3,517

1,661

162174058.LC.FTS.B,

18.62%,

11/20/22

..

9,649

9,498

162083664.LC.FTS.B,

15.24%,

11/22/22

..

5,199

4,303

162032578.LC.FTS.B,

20.55%,

11/22/22

..

1,792

1,803

162318404.LC.FTS.B,

18.62%,

11/25/22

..

8,372

8,351

162363569.LC.FTS.B,

18.62%,

11/25/22

..

2,900

2,853

162107805.LC.FTS.B,

16.95%,

11/26/22

..

1,927

1,931

162343065.LC.FTS.B,

11.02%,

11/27/22

..

5,661

5,595

162249312.LC.FTS.B,

20.55%,

11/27/22

..

1,504

1,520

162268100.LC.FTS.B,

14.3%,

12/02/22

...

518

514

161671238.LC.FTS.B,

23.05%,

12/02/22

..

2,928

2,917

162479999.LC.FTS.B,

20.55%,

12/03/22

..

1,796

1,782

162767581.LC.FTS.B,

16.95%,

12/04/22

..

821

811

162909709.LC.FTS.B,

16.12%,

12/06/22

..

132

131

162992177.LC.FTS.B,

12.4%,

12/09/22

...

4,304

4,270

162957826.LC.FTS.B,

16.12%,

12/09/22

..

2,230

2,194

163028434.LC.FTS.B,

16.12%,

12/09/22

..

2,193

2,174

163090706.LC.FTS.B,

16.95%,

12/10/22

..

2,048

2,036

163220471.LC.FTS.B,

17.74%,

12/12/22

..

1,724

1,715

163363682.LC.FTS.B,

16.12%,

12/16/22

..

1,657

1,358

163390766.LC.FTS.B,

16.12%,

12/16/22

..

2,217

2,200

163327518.LC.FTS.B,

17.74%,

12/16/22

..

865

858

163328436.LC.FTS.B,

17.74%,

12/16/22

..

1,207

1,202

163340618.LC.FTS.B,

23.05%,

12/18/22

..

2,196

2,204

163448166.LC.FTS.B,

16.95%,

12/19/22

..

3,587

3,577

163194660.LC.FTS.B,

17.74%,

12/20/22

..

1,871

1,864

163740957.LC.FTS.B,

14.3%,

12/23/22

...

5,054

5,030

163873718.LC.FTS.B,

11.71%,

12/26/22

..

1,648

1,623

163915234.LC.FTS.B,

15.24%,

12/27/22

..

1,105

1,105

162565626.LC.FTS.B,

16.95%,

12/27/22

..

3,725

3,543

163186720.LC.FTS.B,

16.95%,

12/27/22

..

1,452

1,451

163835974.LC.FTS.B,

20.55%,

12/27/22

..

1,548

628

163933698.LC.FTS.B,

20.55%,

12/27/22

..

1,780

1,794

164083735.LC.FTS.B,

12.4%,

12/30/22

...

1,435

1,417

163938962.LC.FTS.B,

15.24%,

12/30/22

..

6,199

6,156

163615047.LC.FTS.B,

17.74%,

12/30/22

..

1,724

1,702

164313833.LC.FTS.B,

20.55%,

1/03/23

...

318

316

164452270.LC.FTS.B,

18.62%,

1/07/23

...

1,555

1,549

164523947.LC.FTS.B,

11.71%,

1/09/23

...

2,333

2,301

164584304.LC.FTS.B,

20.55%,

1/09/23

...

8,502

8,333

163289544.LC.FTS.B,

10%,

1/13/23

.....

5,252

5,007

164807641.LC.FTS.B,

13.08%,

1/13/23

...

1,562

1,541

164278211.LC.FTS.B,

20.55%,

1/15/23

...

4,705

4,698

164987116.LC.FTS.B,

18.62%,

1/21/23

...

3,278

3,199

165398947.LC.FTS.B,

11.71%,

1/22/23

...

1,017

1,007

164188266.LC.FTS.B,

15.24%,

1/22/23

...

3,395

3,376

165395702.LC.FTS.B,

15.24%,

1/22/23

...

4,194

4,170

165332907.LC.FTS.B,

16.12%,

1/22/23

...

6,906

6,851

165101135.LC.FTS.B,

16.95%,

1/22/23

...

3,213

3,145

165482731.LC.FTS.B,

13.08%,

1/24/23

...

1,715

1,699

165641716.LC.FTS.B,

11.71%,

1/27/23

...

2,652

2,629

165589652.LC.FTS.B,

13.08%,

1/27/23

...

975

963

165659626.LC.FTS.B,

14.3%,

1/27/23

...

2,611

2,560

165981000.LC.FTS.B,

13.08%,

2/03/23

...

273

269

Description

Principal

Amount

Value

LendingClub

Corp.

(continued)

165702194.LC.FTS.B,

20.55%,

2/03/23

...

$

1,715

$

1,698

166121622.LC.FTS.B,

18.62%,

2/04/23

...

5,654

5,603

166197102.LC.FTS.B,

18.62%,

2/05/23

...

2,551

2,529

166022182.LC.FTS.B,

14.3%,

2/07/23

...

4,610

571

166686897.LC.FTS.B,

12.4%,

2/14/23

...

9,238

9,020

166766941.LC.FTS.B,

Zero

Cpn,

2/18/23

.

892

87

166785571.LC.FTS.B,

11.71%,

2/18/23

...

7,312

7,015

167191557.LC.FTS.B,

20.55%,

2/24/23

...

2,354

2,339

167285479.LC.FTS.B,

20.55%,

2/24/23

...

7,200

7,171

148147657.LC.FTS.B,

17.19%,

2/26/23

...

357

353

166629231.LC.FTS.B,

23.05%,

2/26/23

...

754

755

167078819.LC.FTS.B,

16.12%,

3/02/23

...

3,266

3,195

167579044.LC.FTS.B,

17.74%,

3/02/23

...

4,504

4,345

167581364.LC.FTS.B,

17.74%,

3/02/23

...

1,691

1,630

167583337.LC.FTS.B,

23.05%,

3/02/23

...

7,688

7,574

167708608.LC.FTS.B,

15.24%,

3/11/23

...

3,104

3,052

167835280.LC.FTS.B,

14.3%,

3/12/23

...

844

830

167810019.LC.FTS.B,

16.12%,

3/12/23

...

3,928

3,864

148705649.LC.FTS.B,

17.97%,

3/12/23

...

549

552

168302195.LC.FTS.B,

16.95%,

3/13/23

...

535

527

168164628.LC.FTS.B,

12.4%,

3/16/23

...

6,381

6,269

168460211.LC.FTS.B,

14.3%,

3/17/23

....

2,078

2,052

149590838.LC.FTS.B,

13.9%,

4/01/23

...

3,625

2,985

151180607.LC.FTS.B,

17.19%,

5/13/23

...

3,099

3,022

153164255.LC.FTS.B,

16.95%,

6/10/23

...

106

107

153290884.LC.FTS.B,

17.74%,

6/11/23

...

223

220

153853474.LC.FTS.B,

20%,

6/20/23

.....

156

156

153983778.LC.FTS.B,

14.3%,

6/24/23

...

1,888

1,898

153209655.LC.FTS.B,

17.74%,

6/25/23

...

218

219

154927042.LC.FTS.B,

17.97%,

7/09/23

...

1,772

525

155285037.LC.FTS.B,

Zero

Cpn,

7/15/23

.

1,748

169

155784469.LC.FTS.B,

25%,

7/24/23

.....

340

162

155947553.LC.FTS.B,

16.95%,

7/26/23

...

196

195

156301389.LC.FTS.B,

13.08%,

8/01/23

...

1,237

1,236

156082057.LC.FTS.B,

17.74%,

8/01/23

...

355

354

157141091.LC.FTS.B,

16.12%,

8/19/23

...

576

575

157009184.LC.FTS.B,

16.95%,

8/19/23

...

351

353

157239649.LC.FTS.B,

16.12%,

8/20/23

...

180

180

156236467.LC.FTS.B,

15.24%,

8/26/23

...

1,138

1,131

157632583.LC.FTS.B,

16.12%,

8/26/23

...

695

699

157671560.LC.FTS.B,

17.74%,

8/26/23

...

357

359

157532778.LC.FTS.B,

16.12%,

8/27/23

...

663

665

140328850.LC.FTS.B,

19.92%,

9/19/23

...

11,510

10,924

140347396.LC.FTS.B,

19.92%,

9/19/23

...

3,880

3,857

140563373.LC.FTS.B,

19.92%,

9/19/23

...

7,388

7,341

140343579.LC.FTS.B,

20.89%,

9/19/23

...

9,984

10,019

139794780.LC.FTS.B,

20.89%,

10/01/23

..

4,244

4,220

141161373.LC.FTS.B,

20.89%,

10/01/23

..

11,577

11,539

141248487.LC.FTS.B,

22.35%,

10/02/23

..

3,705

3,657

141292024.LC.FTS.B,

20.89%,

10/03/23

..

12,351

3,566

140759388.LC.FTS.B,

23.4%,

10/03/23

...

14,079

10,767

141079587.LC.FTS.B,

26.31%,

10/03/23

..

8,394

8,333

141355465.LC.FTS.B,

12.73%,

10/04/23

..

6,241

6,094

141419104.LC.FTS.B,

12.73%,

10/05/23

..

8,738

8,532

141414077.LC.FTS.B,

13.56%,

10/05/23

..

782

246

140103085.LC.FTS.B,

17.97%,

10/05/23

..

3,386

3,359

141426366.LC.FTS.B,

17.97%,

10/05/23

..

4,092

4,054

141403690.LC.FTS.B,

18.94%,

10/05/23

..

10,308

10,253

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

89

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

LendingClub

Corp.

(continued)

141374572.LC.FTS.B,

27.27%,

10/05/23

..

$

4,638

$

4,615

141783977.LC.FTS.B,

12.73%,

10/12/23

..

9,675

9,459

141363707.LC.FTS.B,

12.73%,

10/15/23

..

7,490

7,319

142058835.LC.FTS.B,

27.27%,

10/17/23

..

14,305

6,004

142148879.LC.FTS.B,

20.89%,

10/18/23

..

7,957

7,966

142083793.LC.FTS.B,

24.37%,

10/18/23

..

8,840

8,250

142086634.LC.FTS.B,

12.73%,

10/19/23

..

10,860

10,617

140814129.LC.FTS.B,

17.97%,

10/19/23

..

3,725

3,713

142225547.LC.FTS.B,

20.89%,

10/19/23

..

7,670

7,584

142161605.LC.FTS.B,

23.4%,

10/19/23

...

2,258

2,216

142075506.LC.FTS.B,

26.31%,

10/19/23

..

9,157

9,116

142333358.LC.FTS.B,

16.91%,

10/23/23

..

7,283

7,076

142456892.LC.FTS.B,

11.55%,

10/24/23

..

11,427

11,090

142541623.LC.FTS.B,

13.56%,

10/24/23

..

10,120

9,926

142298949.LC.FTS.B,

14.47%,

10/24/23

..

11,230

11,012

141895694.LC.FTS.B,

18.94%,

10/24/23

..

4,125

4,081

141649491.LC.FTS.B,

19.92%,

10/24/23

..

12,203

12,179

141082564.LC.FTS.B,

11.06%,

10/25/23

..

6,075

5,925

142149600.LC.FTS.B,

11.06%,

10/25/23

..

4,555

4,449

142542297.LC.FTS.B,

11.55%,

10/25/23

..

7,180

6,959

142127711.LC.FTS.B,

12.73%,

10/25/23

..

9,362

9,157

142527519.LC.FTS.B,

16.91%,

10/25/23

..

11,667

11,413

141269019.LC.FTS.B,

19.92%,

10/25/23

..

5,229

5,223

141422940.LC.FTS.B,

20.89%,

10/25/23

..

7,780

7,810

142079697.LC.FTS.B,

10.08%,

10/26/23

..

12,221

11,915

142187067.LC.FTS.B,

11.55%,

10/26/23

..

7,531

7,347

142579027.LC.FTS.B,

16.14%,

10/26/23

..

3,952

3,876

142737196.LC.FTS.B,

11.55%,

10/29/23

..

11,957

11,572

142829106.LC.FTS.B,

10.08%,

10/30/23

..

6,348

6,187

142789084.LC.FTS.B,

10.47%,

10/30/23

..

5,110

4,973

142070278.LC.FTS.B,

19.92%,

10/30/23

..

11,129

1,285

142579350.LC.FTS.B,

20.89%,

10/30/23

..

3,740

3,708

143453403.LC.FTS.B,

10.33%,

11/13/23

..

5,100

4,990

143063671.LC.FTS.B,

10.72%,

11/13/23

..

5,362

5,236

142636997.LC.FTS.B,

11.55%,

11/13/23

..

11,450

11,053

143378025.LC.FTS.B,

8.81%,

11/14/23

...

12,436

12,264

143296345.LC.FTS.B,

10.33%,

11/14/23

..

10,359

10,124

143321213.LC.FTS.B,

10.72%,

11/14/23

..

11,547

11,267

143411489.LC.FTS.B,

11.31%,

11/14/23

..

9,810

3,541

143428192.LC.FTS.B,

11.8%,

11/14/23

...

3,916

3,814

143489067.LC.FTS.B,

11.8%,

11/14/23

...

15,359

13,574

143514004.LC.FTS.B,

11.8%,

11/14/23

...

5,253

4,643

142640425.LC.FTS.B,

10.47%,

11/16/23

..

5,430

5,293

143646902.LC.FTS.B,

13.56%,

11/16/23

..

7,984

7,350

143295863.LC.FTS.B,

14.47%,

11/16/23

..

3,439

3,375

143835362.LC.FTS.B,

18.94%,

11/19/23

..

10,186

10,071

143664720.LC.FTS.B,

11.8%,

11/21/23

...

6,527

6,362

142526281.LC.FTS.B,

14.47%,

11/21/23

..

12,960

12,647

144102573.LC.FTS.B,

18.94%,

11/27/23

..

5,045

4,823

144194761.LC.FTS.B,

8.81%,

11/28/23

...

12,436

12,270

144173279.LC.FTS.B,

10.72%,

11/28/23

..

9,533

9,303

144219844.LC.FTS.B,

12.98%,

11/28/23

..

5,353

5,228

144230589.LC.FTS.B,

12.98%,

11/28/23

..

9,975

9,755

144195034.LC.FTS.B,

19.92%,

11/28/23

..

4,427

4,415

144228163.LC.FTS.B,

14.47%,

11/29/23

..

7,188

7,024

144206181.LC.FTS.B,

16.14%,

11/29/23

..

8,474

8,277

143917879.LC.FTS.B,

16.91%,

11/29/23

..

17,071

15,216

143073416.LC.FTS.B,

19.92%,

11/29/23

..

8,549

8,474

Description

Principal

Amount

Value

LendingClub

Corp.

(continued)

144128930.LC.FTS.B,

10.72%,

11/30/23

..

$

4,411

$

4,290

144026346.LC.FTS.B,

17.97%,

11/30/23

..

11,119

11,089

143737299.LC.FTS.B,

15.02%,

12/03/23

..

9,524

9,244

144280900.LC.FTS.B,

17.97%,

12/04/23

..

11,989

11,802

144473095.LC.FTS.B,

18.94%,

12/04/23

..

4,220

4,139

144492132.LC.FTS.B,

18.94%,

12/06/23

..

6,184

6,049

144556102.LC.FTS.B,

18.94%,

12/06/23

..

3,459

3,391

144614532.LC.FTS.B,

20.89%,

12/06/23

..

6,938

6,908

144718606.LC.FTS.B,

17.97%,

12/10/23

..

13,545

13,226

144903833.LC.FTS.B,

11.8%,

12/13/23

...

7,910

748

144940694.LC.FTS.B,

11.8%,

12/13/23

...

11,048

9,514

144864740.LC.FTS.B,

10.33%,

12/14/23

..

6,745

6,580

145024597.LC.FTS.B,

11.8%,

12/14/23

...

8,324

8,096

145114908.LC.FTS.B,

17.97%,

12/18/23

..

7,956

7,815

145295088.LC.FTS.B,

10.72%,

12/21/23

..

3,800

3,703

145216495.LC.FTS.B,

11.8%,

12/21/23

...

3,451

3,357

145263254.LC.FTS.B,

11.8%,

12/21/23

...

4,659

4,532

145296187.LC.FTS.B,

12.98%,

12/21/23

..

7,591

7,406

145611420.LC.FTS.B,

10.72%,

12/31/23

..

7,149

6,941

145533215.LC.FTS.B,

11.8%,

12/31/23

...

8,408

8,085

145280246.LC.FTS.B,

20.89%,

12/31/23

..

4,134

4,081

145642678.LC.FTS.B,

12.98%,

1/02/24

...

5,442

2,482

145183021.LC.FTS.B,

10.33%,

1/03/24

...

8,889

8,648

145710063.LC.FTS.B,

10.72%,

1/03/24

...

8,373

8,152

146037087.LC.FTS.B,

12.98%,

1/10/24

...

5,553

5,401

146110320.LC.FTS.B,

11.8%,

1/11/24

....

7,273

7,054

145998409.LC.FTS.B,

12.98%,

1/14/24

...

8,804

7,641

144986124.LC.FTS.B,

17.97%,

1/14/24

...

7,956

7,852

146154250.LC.FTS.B,

17.97%,

1/14/24

...

5,618

5,545

146360497.LC.FTS.B,

12.98%,

1/16/24

...

11,549

11,247

146358264.LC.FTS.B,

18.94%,

1/16/24

...

6,052

5,920

146454152.LC.FTS.B,

16.14%,

1/18/24

...

5,932

5,709

146402565.LC.FTS.B,

17.97%,

1/18/24

...

7,080

6,916

146595623.LC.FTS.B,

13.56%,

1/22/24

...

8,456

7,572

146385161.LC.FTS.B,

18.94%,

1/22/24

...

14,035

1,808

146449830.LC.FTS.B,

11.8%,

1/23/24

....

4,364

4,236

146570696.LC.FTS.B,

14.47%,

1/23/24

...

7,418

7,204

145950191.LC.FTS.B,

18.94%,

1/23/24

...

8,668

8,530

146347023.LC.FTS.B,

Zero

Cpn,

1/24/24

.

8,010

3,829

146382976.LC.FTS.B,

16.91%,

1/24/24

...

7,839

7,619

146822604.LC.FTS.B,

17.97%,

1/25/24

...

3,985

3,936

146986250.LC.FTS.B,

10.72%,

1/29/24

...

9,399

9,129

146951890.LC.FTS.B,

12.98%,

1/30/24

...

4,664

4,517

146832728.LC.FTS.B,

15.02%,

1/30/24

...

4,002

3,850

147059235.LC.FTS.B,

15.02%,

1/31/24

...

7,997

7,699

146823921.LC.FTS.B,

15.02%,

2/04/24

...

9,590

1,117

146171882.LC.FTS.B,

17.97%,

2/04/24

...

7,095

6,939

147087179.LC.FTS.B,

19.92%,

2/04/24

...

5,070

1,361

147424780.LC.FTS.B,

19.92%,

2/08/24

...

3,892

3,837

147264720.LC.FTS.B,

14.47%,

2/11/24

...

8,856

3,319

147312249.LC.FTS.B,

11.8%,

2/12/24

....

15,282

14,807

147752141.LC.FTS.B,

18.94%,

2/19/24

...

19,573

18,049

148255751.LC.FTS.B,

12.4%,

3/05/24

...

6,056

5,870

148165215.LC.FTS.B,

15.57%,

3/05/24

...

13,591

10,448

148398539.LC.FTS.B,

15.57%,

3/05/24

...

5,063

4,893

148408043.LC.FTS.B,

17.97%,

3/05/24

...

6,537

6,394

148465404.LC.FTS.B,

17.97%,

3/06/24

...

8,717

8,497

148318987.LC.FTS.B,

13.9%,

3/07/24

...

5,577

2,079

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

90

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

LendingClub

Corp.

(continued)

148594665.LC.FTS.B,

17.19%,

3/11/24

...

$

4,747

$

4,323

148285066.LC.FTS.B,

17.97%,

3/11/24

...

15,078

14,803

148530582.LC.FTS.B,

13.9%,

3/12/24

...

16,196

2,895

148704813.LC.FTS.B,

13.9%,

3/12/24

...

14,432

13,983

148124381.LC.FTS.B,

16.4%,

3/12/24

...

15,669

15,164

148686543.LC.FTS.B,

16.4%,

3/12/24

...

10,696

10,337

148711863.LC.FTS.B,

16.4%,

3/12/24

....

5,693

5,423

148710415.LC.FTS.B,

20%,

3/12/24

.....

15,663

15,308

148695672.LC.FTS.B,

22.5%,

3/12/24

...

5,462

5,337

148729378.LC.FTS.B,

15.57%,

3/13/24

...

12,723

12,296

148849654.LC.FTS.B,

Zero

Cpn,

3/15/24

.

8,933

814

148830986.LC.FTS.B,

14.74%,

3/15/24

...

8,343

8,085

148898730.LC.FTS.B,

13.9%,

3/18/24

...

14,432

14,002

148905494.LC.FTS.B,

16.4%,

3/18/24

...

8,671

6,676

148912242.LC.FTS.B,

20%,

3/18/24

.....

12,529

12,319

148932528.LC.FTS.B,

17.19%,

3/25/24

...

13,038

11,745

149314316.LC.FTS.B,

10.33%,

3/26/24

...

4,944

4,777

147890443.LC.FTS.B,

11.02%,

3/26/24

...

18,876

18,119

149281358.LC.FTS.B,

12.4%,

3/26/24

...

9,951

9,658

149315507.LC.FTS.B,

13.08%,

3/26/24

...

8,152

7,919

148529602.LC.FTS.B,

15.57%,

3/26/24

...

4,420

4,247

149128960.LC.FTS.B,

10.33%,

4/01/24

...

10,242

9,908

149673312.LC.FTS.B,

14.74%,

4/03/24

...

4,355

4,198

149957207.LC.FTS.B,

17.19%,

4/09/24

...

19,477

17,330

149399946.LC.FTS.B,

20%,

4/09/24

.....

20,642

7,946

150025532.LC.FTS.B,

15.57%,

4/10/24

...

13,210

12,750

150130575.LC.FTS.B,

13.9%,

4/12/24

...

17,223

16,653

150114171.LC.FTS.B,

16.4%,

4/12/24

....

10,886

10,522

150116474.LC.FTS.B,

20%,

4/12/24

.....

5,944

5,817

149882426.LC.FTS.B,

12.4%,

4/15/24

...

9,607

9,232

150196309.LC.FTS.B,

17.97%,

4/15/24

...

6,361

6,227

150145329.LC.FTS.B,

20%,

4/15/24

.....

7,943

7,749

150114686.LC.FTS.B,

13.9%,

4/16/24

....

4,306

4,166

150135171.LC.FTS.B,

15.57%,

4/16/24

...

8,807

8,511

150241560.LC.FTS.B,

20%,

4/16/24

.....

4,871

3,805

150302648.LC.FTS.B,

15.57%,

4/17/24

...

8,807

8,513

150351615.LC.FTS.B,

17.97%,

4/17/24

...

15,859

7,827

150392604.LC.FTS.B,

17.97%,

4/18/24

...

15,857

15,287

150457673.LC.FTS.B,

20%,

4/22/24

.....

9,324

9,155

150622391.LC.FTS.B,

13.9%,

4/23/24

...

10,764

10,431

150627709.LC.FTS.B,

20%,

4/23/24

.....

6,993

6,869

150727820.LC.FTS.B,

17.19%,

4/24/24

...

6,075

5,968

150850415.LC.FTS.B,

12.4%,

4/26/24

...

7,048

6,792

150551318.LC.FTS.B,

20%,

4/29/24

.....

17,878

17,244

150843036.LC.FTS.B,

22.5%,

4/29/24

...

4,992

4,896

150845967.LC.FTS.B,

17.19%,

4/30/24

...

6,715

6,447

150161543.LC.FTS.B,

14.74%,

5/01/24

...

12,612

11,450

150774924.LC.FTS.B,

17.19%,

5/01/24

...

7,021

6,743

150332126.LC.FTS.B,

16.4%,

5/06/24

...

9,315

8,943

151324492.LC.FTS.B,

20%,

5/06/24

.....

9,006

8,595

150851475.LC.FTS.B,

20%,

5/08/24

.....

11,137

10,833

151444001.LC.FTS.B,

14.74%,

5/09/24

...

5,443

5,241

150616815.LC.FTS.B,

17.97%,

5/09/24

...

6,568

6,286

151467501.LC.FTS.B,

20%,

5/09/24

.....

10,310

10,045

151545441.LC.FTS.B,

17.97%,

5/10/24

...

4,734

4,595

151679657.LC.FTS.B,

13.9%,

5/14/24

...

9,621

9,230

151702888.LC.FTS.B,

17.97%,

5/14/24

...

5,256

5,119

151690420.LC.FTS.B,

17.97%,

5/15/24

...

8,111

7,908

Description

Principal

Amount

Value

LendingClub

Corp.

(continued)

150328755.LC.FTS.B,

13.08%,

5/17/24

...

$

5,040

$

4,834

151897315.LC.FTS.B,

20%,

5/17/24

.....

8,771

8,567

151997574.LC.FTS.B,

16.4%,

5/20/24

...

18,614

16,880

152090213.LC.FTS.B,

12.4%,

5/21/24

...

6,794

6,574

151812668.LC.FTS.B,

14.74%,

5/21/24

...

11,909

11,248

152146150.LC.FTS.B,

13.9%,

5/22/24

...

16,005

15,441

152112261.LC.FTS.B,

14.74%,

5/22/24

...

9,649

9,316

151495173.LC.FTS.B,

12.4%,

5/24/24

...

10,148

9,822

152159254.LC.FTS.B,

12.4%,

5/24/24

...

12,229

5,970

151810309.LC.FTS.B,

13.08%,

5/24/24

...

8,874

8,587

152054930.LC.FTS.B,

13.9%,

5/24/24

...

6,388

6,110

152319286.LC.FTS.B,

13.9%,

5/24/24

...

4,486

4,338

151979821.LC.FTS.B,

13.9%,

5/28/24

...

8,996

8,683

151707588.LC.FTS.B,

14.74%,

5/29/24

...

10,706

10,206

152294807.LC.FTS.B,

Zero

Cpn,

6/10/24

.

21,172

1,994

152166562.LC.FTS.B,

16.4%,

6/10/24

...

7,160

6,873

153272535.LC.FTS.B,

14.3%,

6/11/24

....

7,114

6,857

153211777.LC.FTS.B,

15.24%,

6/11/24

...

4,961

4,782

152666177.LC.FTS.B,

15.57%,

6/11/24

...

7,663

7,376

152765318.LC.FTS.B,

17.19%,

6/11/24

...

7,291

7,000

153259499.LC.FTS.B,

17.74%,

6/11/24

...

8,875

3,243

152970058.LC.FTS.B,

13.08%,

6/12/24

...

17,537

16,913

153141113.LC.FTS.B,

13.08%,

6/12/24

...

9,230

8,901

153172761.LC.FTS.B,

16.12%,

6/12/24

...

9,593

9,251

153568662.LC.FTS.B,

16.12%,

6/17/24

...

5,180

5,001

153720322.LC.FTS.B,

12.4%,

6/20/24

...

9,606

9,274

153987117.LC.FTS.B,

12.4%,

6/24/24

....

9,628

9,298

153895344.LC.FTS.B,

13.08%,

6/24/24

...

16,596

15,823

152550358.LC.FTS.B,

14.74%,

6/24/24

...

7,071

6,813

153537119.LC.FTS.B,

16.12%,

6/25/24

...

5,054

4,863

153754650.LC.FTS.B,

16.95%,

6/27/24

...

10,931

10,552

154235097.LC.FTS.B,

14.3%,

6/28/24

...

13,054

11,727

154267934.LC.FTS.B,

14.3%,

7/01/24

...

18,420

17,684

154377850.LC.FTS.B,

14.3%,

7/01/24

...

12,160

11,666

154462977.LC.FTS.B,

16.12%,

7/01/24

...

4,974

4,771

154396924.LC.FTS.B,

16.95%,

7/01/24

...

15,299

14,684

154841821.LC.FTS.B,

16.12%,

7/08/24

...

10,937

10,399

154797502.LC.FTS.B,

16.12%,

7/09/24

...

7,898

7,138

154940690.LC.FTS.B,

16.12%,

7/09/24

...

13,218

12,702

154931535.LC.FTS.B,

17.74%,

7/09/24

...

14,493

13,834

154994847.LC.FTS.B,

14.3%,

7/10/24

...

5,253

5,054

155027113.LC.FTS.B,

17.97%,

7/10/24

...

12,235

11,535

154080835.LC.FTS.B,

16.95%,

7/15/24

...

15,488

14,330

155232104.LC.FTS.B,

17.74%,

7/15/24

...

5,071

4,879

154935107.LC.FTS.B,

20%,

7/15/24

.....

5,414

5,250

155293915.LC.FTS.B,

13.08%,

7/16/24

...

10,773

9,396

155360790.LC.FTS.B,

15.24%,

7/16/24

...

8,441

8,034

155334080.LC.FTS.B,

16.12%,

7/16/24

...

20,758

19,933

155246628.LC.FTS.B,

17.74%,

7/17/24

...

5,685

5,419

155164991.LC.FTS.B,

15.24%,

7/18/24

...

19,683

18,962

155293215.LC.FTS.B,

16.95%,

7/18/24

...

6,405

6,169

155579797.LC.FTS.B,

17.74%,

7/19/24

...

11,385

10,931

154020911.LC.FTS.B,

16.95%,

7/22/24

...

10,047

9,684

155717890.LC.FTS.B,

15.24%,

7/23/24

...

4,921

4,744

155404759.LC.FTS.B,

12.4%,

7/29/24

...

5,559

4,818

156078988.LC.FTS.B,

17.74%,

7/30/24

...

13,112

12,534

156134234.LC.FTS.B,

17.74%,

7/30/24

...

5,245

5,013

156204742.LC.FTS.B,

15%,

7/31/24

.....

11,079

10,535

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

91

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

LendingClub

Corp.

(continued)

155823373.LC.FTS.B,

15.24%,

7/31/24

...

$

15,680

$

14,997

156198752.LC.FTS.B,

16.95%,

7/31/24

...

7,854

7,519

156287957.LC.FTS.B,

14.3%,

8/01/24

...

18,977

18,158

155931737.LC.FTS.B,

17.74%,

8/01/24

...

13,390

12,809

156793211.LC.FTS.B,

16.95%,

8/12/24

...

11,436

10,967

157020689.LC.FTS.B,

14.3%,

8/15/24

...

23,782

22,408

157050275.LC.FTS.B,

12.4%,

8/16/24

...

3,796

3,727

157148290.LC.FTS.B,

14.3%,

8/16/24

...

12,926

12,384

157020009.LC.FTS.B,

15.24%,

8/16/24

...

11,210

10,765

156927320.LC.FTS.B,

16.12%,

8/16/24

...

11,434

10,920

157194796.LC.FTS.B,

15.24%,

8/19/24

...

20,381

19,582

156938647.LC.FTS.B,

16.12%,

8/19/24

...

17,818

16,948

157221111.LC.FTS.B,

16.12%,

8/19/24

...

17,397

16,724

157178824.LC.FTS.B,

16.12%,

8/20/24

...

6,178

5,936

157192559.LC.FTS.B,

11.02%,

8/22/24

...

9,619

9,243

156805347.LC.FTS.B,

17.74%,

8/23/24

...

8,959

8,602

157513361.LC.FTS.B,

12.4%,

8/26/24

...

14,769

14,205

156816513.LC.FTS.B,

15.24%,

8/26/24

...

12,738

12,259

157585737.LC.FTS.B,

15.24%,

8/26/24

...

8,341

8,031

157472465.LC.FTS.B,

16.12%,

8/26/24

...

6,178

5,945

157742410.LC.FTS.B,

13.08%,

8/27/24

...

6,334

6,084

156982194.LC.FTS.B,

14.3%,

8/27/24

...

8,565

8,246

157328472.LC.FTS.B,

14.3%,

8/27/24

...

11,194

10,668

157600114.LC.FTS.B,

16.95%,

8/27/24

...

5,198

5,003

157148207.LC.FTS.B,

17.74%,

9/03/24

...

9,515

9,116

158081866.LC.FTS.B,

16.12%,

9/05/24

...

14,898

14,234

158052058.LC.FTS.B,

14.3%,

9/09/24

...

6,267

5,925

158348386.LC.FTS.B,

16.95%,

9/09/24

...

9,667

9,241

158272069.LC.FTS.B,

17.74%,

9/09/24

...

10,197

9,744

158175447.LC.FTS.B,

17.74%,

9/10/24

...

18,964

18,132

157912310.LC.FTS.B,

17.74%,

9/13/24

...

9,796

9,360

157396742.LC.FTS.B,

15.24%,

9/17/24

...

18,571

17,771

158896888.LC.FTS.B,

16.95%,

9/18/24

...

14,590

13,790

159010378.LC.FTS.B,

17.74%,

9/19/24

...

12,964

12,396

158914371.LC.FTS.B,

16.12%,

9/20/24

...

16,547

15,447

159301771.LC.FTS.B,

16.95%,

9/25/24

...

9,306

8,910

159435722.LC.FTS.B,

12.4%,

9/30/24

...

10,529

10,057

159127353.LC.FTS.B,

12.4%,

10/01/24

...

13,650

13,039

159372853.LC.FTS.B,

13.08%,

10/01/24

..

11,144

10,646

159617995.LC.FTS.B,

13.08%,

10/01/24

..

6,635

6,314

159782705.LC.FTS.B,

17.74%,

10/07/24

..

24,682

21,968

159761945.LC.FTS.B,

16.95%,

10/08/24

..

10,361

9,913

160079994.LC.FTS.B,

13.08%,

10/11/24

..

15,964

15,257

160529999.LC.FTS.B,

16.95%,

10/22/24

..

6,621

6,331

160896111.LC.FTS.B,

14.3%,

10/25/24

...

7,256

6,964

160490410.LC.FTS.B,

15.24%,

10/25/24

..

21,751

20,823

161573592.LC.FTS.B,

12.4%,

11/07/24

...

11,507

10,976

161519546.LC.FTS.B,

13.08%,

11/07/24

..

22,436

3,872

161593900.LC.FTS.B,

13.08%,

11/12/24

..

2,918

2,791

161662827.LC.FTS.B,

20.55%,

11/12/24

..

6,638

6,391

161649725.LC.FTS.B,

Zero

Cpn,

11/13/24

7,048

678

161740410.LC.FTS.B,

17.74%,

11/14/24

..

11,589

11,036

161925646.LC.FTS.B,

17.74%,

11/15/24

..

13,711

6,241

162054102.LC.FTS.B,

14.3%,

11/18/24

...

13,353

12,703

161547323.LC.FTS.B,

16.95%,

11/18/24

..

10,854

10,341

162085568.LC.FTS.B,

16.95%,

11/19/24

..

11,417

10,882

162378603.LC.FTS.B,

16.12%,

11/25/24

..

13,581

12,965

162458601.LC.FTS.B,

16.95%,

11/26/24

..

10,274

9,812

Description

Principal

Amount

Value

LendingClub

Corp.

(continued)

162329802.LC.FTS.B,

20.55%,

11/26/24

..

$

8,882

$

8,580

162625908.LC.FTS.B,

20.55%,

12/02/24

..

15,592

14,561

162770667.LC.FTS.B,

11.02%,

12/04/24

..

15,224

14,489

162767538.LC.FTS.B,

12.4%,

12/04/24

...

8,400

7,994

161969346.LC.FTS.B,

20.55%,

12/05/24

..

6,086

5,808

163060832.LC.FTS.B,

16.12%,

12/09/24

..

7,426

7,041

162845037.LC.FTS.B,

17.74%,

12/09/24

..

9,609

9,120

162981224.LC.FTS.B,

20.55%,

12/10/24

..

8,520

8,143

163112532.LC.FTS.B,

14.3%,

12/11/24

...

9,178

8,698

162782888.LC.FTS.B,

16.95%,

12/12/24

..

22,833

21,410

163046946.LC.FTS.B,

15.24%,

12/16/24

..

11,543

10,964

163060788.LC.FTS.B,

13.08%,

12/17/24

..

11,282

10,752

163411239.LC.FTS.B,

13.08%,

12/20/24

..

8,462

8,068

163604356.LC.FTS.B,

16.95%,

12/20/24

..

15,609

14,844

163649983.LC.FTS.B,

15.24%,

12/23/24

..

15,844

14,225

163583417.LC.FTS.B,

20.55%,

12/23/24

..

6,051

5,814

164041557.LC.FTS.B,

12.4%,

12/31/24

...

20,922

19,712

164040576.LC.FTS.B,

13.08%,

12/31/24

..

16,849

15,853

163184886.LC.FTS.B,

16.12%,

12/31/24

..

4,130

3,958

164220289.LC.FTS.B,

16.95%,

1/02/25

...

12,469

11,775

164744577.LC.FTS.B,

13.08%,

1/13/25

...

12,291

11,678

164731071.LC.FTS.B,

18.62%,

1/13/25

...

6,135

5,851

164615141.LC.FTS.B,

20.55%,

1/14/25

...

5,316

2,195

165056556.LC.FTS.B,

20.55%,

1/17/25

...

9,963

9,524

164591978.LC.FTS.B,

12.4%,

1/21/25

...

14,412

13,713

165397300.LC.FTS.B,

14.3%,

1/22/25

...

6,246

5,926

165432384.LC.FTS.B,

12.4%,

1/23/25

...

16,873

15,939

165469392.LC.FTS.B,

14.3%,

1/23/25

...

5,829

5,534

164059283.LC.FTS.B,

17.74%,

1/23/25

...

9,146

8,660

164846634.LC.FTS.B,

17.74%,

1/24/25

...

25,165

23,771

165296350.LC.FTS.B,

13.08%,

1/27/25

...

26,798

25,161

165650569.LC.FTS.B,

13.08%,

1/27/25

...

19,102

17,831

165808132.LC.FTS.B,

20.55%,

1/29/25

...

7,169

6,877

165938778.LC.FTS.B,

20.55%,

2/03/25

...

7,686

7,277

165924076.LC.FTS.B,

18.62%,

2/04/25

...

11,967

11,114

166119968.LC.FTS.B,

18.62%,

2/04/25

...

19,556

3,757

165780834.LC.FTS.B,

13.08%,

2/05/25

...

8,593

8,148

166250533.LC.FTS.B,

17.74%,

2/13/25

...

6,257

5,902

166773880.LC.FTS.B,

10.33%,

2/18/25

...

11,680

11,087

166781902.LC.FTS.B,

13.08%,

2/18/25

...

8,953

8,502

166943124.LC.FTS.B,

15.24%,

2/19/25

...

5,992

5,670

165810247.LC.FTS.B,

18.62%,

2/24/25

...

8,813

8,282

167785877.LC.FTS.B,

15.24%,

3/04/25

...

18,772

17,598

167975428.LC.FTS.B,

14.3%,

3/09/25

...

29,780

22,462

168229694.LC.FTS.B,

17.74%,

3/12/25

...

6,427

6,060

168263674.LC.FTS.B,

12.4%,

3/13/25

...

14,615

13,844

168305153.LC.FTS.B,

13.08%,

3/13/25

...

13,723

12,993

168256441.LC.FTS.B,

17.74%,

3/13/25

...

19,204

18,086

167744357.LC.FTS.B,

14.3%,

3/16/25

...

9,945

9,366

167908793.LC.FTS.B,

14.3%,

3/16/25

...

7,405

6,968

3,479,117

LendingClub

Corp.

-

LCX

157988494.LC.FTS.B,

16.12%,

9/03/22

...

671

671

158260911.LC.FTS.B,

14.3%,

9/05/22

....

87

87

158484666.LC.FTS.B,

17.74%,

9/10/22

...

1,953

1,951

160917260.LC.FTS.B,

15.24%,

10/25/22

..

7,033

6,803

161665297.LC.FTS.B,

11.71%,

11/12/22

..

2,706

2,627

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

92

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

LendingClub

Corp.

-

LCX

(continued)

162234798.LC.FTS.B,

8.19%,

11/27/22

...

$

7,770

$

7,701

162930061.LC.FTS.B,

16.95%,

12/18/22

..

5,125

5,124

163697878.LC.FTS.B,

15.24%,

12/24/22

..

4,113

3,309

163851574.LC.FTS.B,

16.12%,

12/27/22

..

8,591

7,854

163380405.LC.FTS.B,

8.81%,

12/30/22

...

1,387

1,347

163827740.LC.FTS.B,

11.02%,

12/30/22

..

221

219

164125541.LC.FTS.B,

16.95%,

1/02/23

...

2,039

1,959

164138043.LC.FTS.B,

17.74%,

1/03/23

...

2,212

2,137

164731364.LC.FTS.B,

13.08%,

1/14/23

...

3,108

3,078

164610022.LC.FTS.B,

5%,

1/17/23

......

6,199

5,626

164155694.LC.FTS.B,

18.62%,

1/21/23

...

1,046

1,049

165205224.LC.FTS.B,

20.55%,

1/21/23

...

2,965

2,982

164999071.LC.FTS.B,

18.62%,

1/22/23

...

4,106

4,069

165517626.LC.FTS.B,

8.19%,

1/24/23

...

1,864

1,852

165505968.LC.FTS.B,

8.81%,

1/24/23

...

983

976

165519480.LC.FTS.B,

8.81%,

1/24/23

...

519

516

165327819.LC.FTS.B,

11.02%,

1/24/23

...

1,333

1,318

165404189.LC.FTS.B,

14.3%,

1/24/23

...

727

714

164954806.LC.FTS.B,

11.02%,

1/27/23

...

2,022

1,958

164217321.LC.FTS.B,

11.71%,

1/27/23

...

6,799

6,736

165487132.LC.FTS.B,

15.24%,

1/27/23

...

479

478

165645688.LC.FTS.B,

10.33%,

1/28/23

...

7,375

7,301

166066821.LC.FTS.B,

15.24%,

2/03/23

...

8,355

995

166112715.LC.FTS.B,

16.95%,

2/05/23

...

8,915

1,091

166140806.LC.FTS.B,

16.95%,

2/05/23

...

4,498

4,149

166679234.LC.FTS.B,

15.24%,

2/14/23

...

4,922

4,537

166931707.LC.FTS.B,

15.24%,

2/19/23

...

3,281

3,106

167169794.LC.FTS.B,

10.33%,

2/24/23

...

750

716

167239205.LC.FTS.B,

17.74%,

2/24/23

...

285

273

167427040.LC.FTS.B,

10.33%,

2/27/23

...

7,211

6,841

166083169.LC.FTS.B,

14.3%,

2/27/23

...

5,736

5,451

167087629.LC.FTS.B,

16.95%,

2/28/23

...

10,451

9,311

167476094.LC.FTS.B,

17.74%,

2/28/23

...

5,144

4,788

167727983.LC.FTS.B,

16.12%,

3/05/23

...

2,123

2,017

167827356.LC.FTS.B,

8.81%,

3/09/23

...

5,892

5,689

167966066.LC.FTS.B,

11.02%,

3/09/23

...

1,006

967

168305328.LC.FTS.B,

6.46%,

3/13/23

...

4,657

2,164

168288460.LC.FTS.B,

8.81%,

3/13/23

...

10,401

9,778

168530477.LC.FTS.B,

14.3%,

3/17/23

...

1,092

1,052

168547686.LC.FTS.B,

8.19%,

3/18/23

...

1,293

1,271

168643443.LC.FTS.B,

17.74%,

4/14/23

...

654

638

151015568.LC.FTS.B,

8.81%,

5/15/23

...

132

132

153814014.LC.FTS.B,

6.46%,

6/26/23

...

3,880

3,859

156167151.LC.FTS.B,

17.97%,

8/01/23

...

876

746

156274689.LC.FTS.B,

20%,

8/01/23

.....

146

146

156349665.LC.FTS.B,

14.3%,

8/02/23

...

3,041

3,038

156040021.LC.FTS.B,

14.3%,

8/05/23

...

364

362

156407197.LC.FTS.B,

14.3%,

8/05/23

...

324

323

156524929.LC.FTS.B,

16.12%,

8/05/23

...

69

42

155751077.LC.FTS.B,

17.74%,

8/05/23

...

233

232

156489103.LC.FTS.B,

17.74%,

8/05/23

...

569

569

156428491.LC.FTS.B,

14.3%,

8/06/23

...

352

354

155372506.LC.FTS.B,

15.24%,

8/06/23

...

8,207

7,999

156554316.LC.FTS.B,

15.24%,

8/06/23

...

69

69

156473544.LC.FTS.B,

16.12%,

8/06/23

...

86

86

156554123.LC.FTS.B,

16.12%,

8/06/23

...

365

366

156247312.LC.FTS.B,

16.95%,

8/06/23

...

274

275

156540003.LC.FTS.B,

17.74%,

8/06/23

...

213

213

Description

Principal

Amount

Value

LendingClub

Corp.

-

LCX

(continued)

156339424.LC.FTS.B,

16.95%,

8/15/23

...

$

351

$

353

157532456.LC.FTS.B,

16.12%,

8/23/23

...

173

175

156070699.LC.FTS.B,

17.74%,

8/23/23

...

246

247

157595939.LC.FTS.B,

17.74%,

8/27/23

...

35

35

151218743.LC.FTS.B,

8.19%,

5/07/24

...

6,221

6,133

151548915.LC.FTS.B,

10.33%,

5/10/24

...

4,274

4,173

151286105.LC.FTS.B,

11.71%,

5/10/24

...

13,068

12,759

151535197.LC.FTS.B,

12.4%,

5/10/24

...

3,559

3,504

151948521.LC.FTS.B,

17.97%,

5/31/24

...

5,882

5,844

153303203.LC.FTS.B,

28.8%,

6/19/24

...

8,850

7,999

154093566.LC.FTS.B,

12.4%,

7/01/24

...

21,029

9,891

153882991.LC.FTS.B,

14.3%,

7/25/24

...

9,633

9,312

154810918.LC.FTS.B,

14.3%,

7/25/24

...

9,303

9,128

155815338.LC.FTS.B,

14.3%,

7/25/24

...

5,577

5,471

155872968.LC.FTS.B,

14.3%,

7/25/24

...

7,296

7,159

155128973.LC.FTS.B,

15.24%,

7/25/24

...

19,563

16,870

155705214.LC.FTS.B,

15.24%,

7/25/24

...

8,913

8,724

155883207.LC.FTS.B,

15.24%,

7/25/24

...

6,274

6,156

155887487.LC.FTS.B,

15.24%,

7/25/24

...

5,965

5,788

155893259.LC.FTS.B,

15.24%,

7/25/24

...

17,223

16,899

155929091.LC.FTS.B,

15.24%,

7/25/24

...

7,381

7,242

154184271.LC.FTS.B,

16.12%,

7/25/24

...

16,498

1,464

154670467.LC.FTS.B,

16.12%,

7/25/24

...

6,438

5,873

155438958.LC.FTS.B,

16.12%,

7/25/24

...

6,974

6,806

155673715.LC.FTS.B,

16.12%,

7/25/24

...

16,923

16,605

155703855.LC.FTS.B,

16.12%,

7/25/24

...

13,441

13,161

155839036.LC.FTS.B,

16.12%,

7/25/24

...

9,876

9,551

155678423.LC.FTS.B,

16.95%,

7/25/24

...

16,025

15,724

155859112.LC.FTS.B,

14.3%,

7/26/24

....

7,154

2,804

155983239.LC.FTS.B,

14.3%,

7/26/24

...

16,445

16,011

156008127.LC.FTS.B,

14.3%,

7/26/24

...

19,457

19,093

155501571.LC.FTS.B,

16.95%,

7/26/24

...

18,085

17,747

155931876.LC.FTS.B,

16.95%,

7/26/24

...

11,059

10,744

155970724.LC.FTS.B,

16.95%,

7/26/24

...

6,278

6,066

156010180.LC.FTS.B,

17.74%,

7/26/24

...

8,964

8,768

156001816.LC.FTS.B,

16.12%,

7/29/24

...

8,855

8,124

157743867.LC.FTS.B,

16.12%,

8/28/24

...

10,297

10,120

156540264.LC.FTS.B,

14.3%,

9/06/24

...

12,766

12,420

158297432.LC.FTS.B,

15.24%,

9/09/24

...

12,611

12,163

156777322.LC.FTS.B,

16.12%,

9/09/24

...

6,386

6,203

158294506.LC.FTS.B,

16.12%,

9/09/24

...

6,385

6,215

158742481.LC.FTS.B,

14.3%,

9/16/24

...

12,548

12,167

158749928.LC.FTS.B,

15.24%,

9/16/24

...

5,794

5,645

158788102.LC.FTS.B,

15.24%,

9/16/24

...

9,421

8,653

158338447.LC.FTS.B,

16.12%,

9/17/24

...

19,594

17,992

158302406.LC.FTS.B,

17.74%,

9/25/24

...

13,491

13,185

160463704.LC.FTS.B,

13.08%,

10/24/24

..

18,159

14,701

161625070.LC.FTS.B,

14.3%,

11/15/24

...

10,602

5,066

162127861.LC.FTS.B,

12.4%,

11/19/24

...

5,705

5,248

160877990.LC.FTS.B,

8.19%,

11/26/24

...

5,698

5,638

162779428.LC.FTS.B,

11.02%,

12/30/24

..

13,079

11,399

163582275.LC.FTS.B,

16.12%,

12/31/24

..

13,049

10,961

164631331.LC.FTS.B,

12.4%,

1/09/25

...

10,320

9,014

163084513.LC.FTS.B,

18.62%,

1/21/25

...

6,136

5,889

164959517.LC.FTS.B,

18.62%,

1/21/25

...

6,171

5,893

165280177.LC.FTS.B,

18.62%,

1/21/25

...

13,172

12,594

164935272.LC.FTS.B,

20.55%,

1/21/25

...

22,604

21,315

165108708.LC.FTS.B,

20.55%,

1/21/25

...

18,857

17,529

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

93

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

LendingClub

Corp.

-

LCX

(continued)

165130966.LC.FTS.B,

20.55%,

1/21/25

...

$

3,123

$

3,012

165148027.LC.FTS.B,

20.55%,

1/21/25

...

12,529

12,084

165276233.LC.FTS.B,

20.55%,

1/21/25

...

13,121

12,607

165378648.LC.FTS.B,

11.02%,

1/22/25

...

23,858

20,452

165396953.LC.FTS.B,

11.02%,

1/22/25

...

18,123

17,293

165784833.LC.FTS.B,

12.4%,

1/30/25

...

6,298

5,380

165888757.LC.FTS.B,

14.3%,

1/30/25

...

5,801

5,513

165796537.LC.FTS.B,

16.95%,

1/30/25

...

6,584

6,201

164300242.LC.FTS.B,

16.12%,

1/31/25

...

22,870

21,541

165919458.LC.FTS.B,

15.24%,

2/03/25

...

24,388

23,033

165905919.LC.FTS.B,

16.12%,

2/03/25

...

17,181

16,218

166045110.LC.FTS.B,

8.19%,

2/04/25

....

17,020

16,529

166100453.LC.FTS.B,

14.3%,

2/05/25

...

24,166

22,836

166217551.LC.FTS.B,

8.19%,

2/07/25

...

18,157

16,857

166908304.LC.FTS.B,

15.24%,

2/18/25

...

16,870

13,913

166949020.LC.FTS.B,

16.12%,

2/19/25

...

10,818

9,221

167192844.LC.FTS.B,

23.05%,

2/24/25

...

15,481

14,375

167466474.LC.FTS.B,

11.02%,

2/27/25

...

13,444

12,041

167085834.LC.FTS.B,

12.4%,

2/28/25

...

13,635

11,818

166101353.LC.FTS.B,

20.55%,

2/28/25

...

3,843

3,221

167601650.LC.FTS.B,

16.12%,

3/02/25

...

10,875

9,011

168045027.LC.FTS.B,

14.3%,

3/10/25

...

9,292

8,226

167746704.LC.FTS.B,

16.12%,

3/13/25

...

19,213

17,142

168273324.LC.FTS.B,

18.62%,

3/17/25

...

10,290

9,006

168564364.LC.FTS.B,

10.33%,

3/19/25

...

9,232

7,946

168585809.LC.FTS.B,

15.24%,

3/24/25

...

6,648

5,812

167808300.LC.FTS.B,

13.08%,

4/14/25

...

8,176

7,071

168642725.LC.FTS.B,

14.3%,

4/14/25

...

17,029

2,832

1,027,691

LendingClub

Corp.

-

LCX

PM

188248955.LC.FTS.B,

19.49%,

4/12/25

...

19,654

19,329

188123636.LC.FTS.B,

20.79%,

4/13/25

...

20,813

20,018

188210889.LC.FTS.B,

23.99%,

4/13/25

...

19,031

19,142

188396824.LC.FTS.B,

23.99%,

4/18/25

...

6,211

6,169

188336152.LC.FTS.B,

23.99%,

4/19/25

...

18,823

18,366

188565335.LC.FTS.B,

15.99%,

4/20/25

...

23,341

22,986

188592862.LC.FTS.B,

20.49%,

4/20/25

...

7,558

7,550

188534183.LC.FTS.B,

22.99%,

4/20/25

...

3,295

3,307

188581186.LC.FTS.B,

14.49%,

4/21/25

...

22,372

21,914

187760587.LC.FTS.B,

15.99%,

4/21/25

...

12,137

12,122

188588570.LC.FTS.B,

16.29%,

4/21/25

...

4,203

4,141

188585972.LC.FTS.B,

19.44%,

4/21/25

...

19,071

15,042

188593902.LC.FTS.B,

21.49%,

4/21/25

...

18,777

18,764

188611568.LC.FTS.B,

23.99%,

4/21/25

...

3,012

3,009

188635054.LC.FTS.B,

16.99%,

4/22/25

...

11,215

11,204

188631141.LC.FTS.B,

18.19%,

4/22/25

...

37,431

37,436

188664382.LC.FTS.B,

21.49%,

4/22/25

...

11,266

11,262

188686293.LC.FTS.B,

23.99%,

4/22/25

...

9,411

9,407

188654930.LC.FTS.B,

24.79%,

4/22/25

...

5,651

5,648

188595363.LC.FTS.B,

20.99%,

4/27/25

...

14,076

14,028

188087453.LC.FTS.B,

23.99%,

4/07/27

...

7,868

7,942

188048788.LC.FTS.B,

25.99%,

4/07/27

...

23,598

23,087

187991007.LC.FTS.B,

17.19%,

4/08/27

...

5,806

5,769

188053341.LC.FTS.B,

20.99%,

4/08/27

...

6,310

6,294

188037917.LC.FTS.B,

22.49%,

4/08/27

...

12,831

12,333

188072484.LC.FTS.B,

22.49%,

4/08/27

...

7,484

7,297

188107511.LC.FTS.B,

22.99%,

4/08/27

...

19,448

19,226

Description

Principal

Amount

Value

LendingClub

Corp.

-

LCX

PM

(continued)

187899660.LC.FTS.B,

23.99%,

4/08/27

...

$

19,929

$

19,713

188093276.LC.FTS.B,

23.99%,

4/08/27

...

8,801

8,756

187457590.LC.FTS.B,

26.79%,

4/08/27

...

5,851

5,810

188054646.LC.FTS.B,

22.99%,

4/11/27

...

11,669

11,487

187514926.LC.FTS.B,

23.49%,

4/11/27

...

7,564

7,511

187548690.LC.FTS.B,

23.49%,

4/11/27

...

14,293

14,432

188122973.LC.FTS.B,

23.49%,

4/11/27

...

32,102

31,454

188149297.LC.FTS.B,

27.79%,

4/11/27

...

8,218

8,205

188256153.LC.FTS.B,

18.99%,

4/12/27

...

5,815

5,804

187548960.LC.FTS.B,

20.49%,

4/12/27

...

18,171

16,888

188186124.LC.FTS.B,

21.49%,

4/12/27

...

6,799

6,415

188257715.LC.FTS.B,

24.99%,

4/12/27

...

19,478

19,179

187873415.LC.FTS.B,

22.49%,

4/13/27

...

4,783

4,602

188268197.LC.FTS.B,

22.99%,

4/13/27

...

9,724

9,445

188277181.LC.FTS.B,

23.49%,

4/13/27

...

34,047

32,913

188110736.LC.FTS.B,

23.99%,

4/13/27

...

9,732

9,541

188260791.LC.FTS.B,

23.99%,

4/13/27

...

9,487

9,333

188229601.LC.FTS.B,

22.49%,

4/14/27

...

19,392

18,674

188318575.LC.FTS.B,

22.99%,

4/14/27

...

6,807

6,680

188277503.LC.FTS.B,

23.19%,

4/14/27

...

9,726

9,500

188338027.LC.FTS.B,

24.99%,

4/14/27

...

5,843

5,815

187819805.LC.FTS.B,

25.99%,

4/14/27

...

24,366

24,245

188308390.LC.FTS.B,

25.99%,

4/14/27

...

5,848

5,819

188316633.LC.FTS.B,

25.99%,

4/14/27

...

9,356

9,310

188321790.LC.FTS.B,

25.99%,

4/14/27

...

1,770

1,775

188298958.LC.FTS.B,

21.99%,

4/15/27

...

14,574

13,905

188352437.LC.FTS.B,

23.99%,

4/15/27

...

29,195

28,929

188388071.LC.FTS.B,

28.99%,

4/15/27

...

9,767

9,721

188437817.LC.FTS.B,

18.19%,

4/18/27

...

5,811

5,810

188225211.LC.FTS.B,

20.99%,

4/18/27

...

14,562

13,748

188439698.LC.FTS.B,

21.99%,

4/18/27

...

6,316

6,290

188400206.LC.FTS.B,

23.19%,

4/18/27

...

12,838

12,667

188348987.LC.FTS.B,

23.99%,

4/18/27

...

7,309

7,314

188142269.LC.FTS.B,

27.79%,

4/18/27

...

9,400

9,337

186780718.LC.FTS.B,

22.49%,

4/19/27

...

38,880

35,674

188528665.LC.FTS.B,

23.99%,

4/19/27

...

6,841

6,728

187933932.LC.FTS.B,

25.99%,

4/19/27

...

9,746

9,483

188543660.LC.FTS.B,

25.99%,

4/19/27

...

23,775

23,504

188310015.LC.FTS.B,

16.29%,

4/20/27

...

7,735

7,739

188590730.LC.FTS.B,

20.49%,

4/20/27

...

39,443

39,627

188352447.LC.FTS.B,

21.49%,

4/20/27

...

9,324

9,293

188580819.LC.FTS.B,

21.49%,

4/20/27

...

17,482

17,344

188535698.LC.FTS.B,

21.99%,

4/20/27

...

15,546

14,918

188574271.LC.FTS.B,

22.49%,

4/20/27

...

27,661

27,557

188575003.LC.FTS.B,

22.49%,

4/20/27

...

6,974

6,945

188415292.LC.FTS.B,

22.99%,

4/20/27

...

29,172

27,857

188573063.LC.FTS.B,

22.99%,

4/20/27

...

23,338

23,152

188575150.LC.FTS.B,

22.99%,

4/20/27

...

22,731

22,645

188261615.LC.FTS.B,

23.99%,

4/20/27

...

21,409

21,337

188400737.LC.FTS.B,

23.99%,

4/20/27

...

29,195

28,284

188452079.LC.FTS.B,

23.99%,

4/20/27

...

34,061

32,839

188494060.LC.FTS.B,

25.99%,

4/20/27

...

8,000

8,128

188450442.LC.FTS.B,

15.19%,

4/21/27

...

27,045

25,430

188527493.LC.FTS.B,

16.19%,

4/21/27

...

25,428

19,613

188615522.LC.FTS.B,

16.19%,

4/21/27

...

15,468

15,269

188223031.LC.FTS.B,

18.99%,

4/21/27

...

29,076

28,837

188557045.LC.FTS.B,

18.99%,

4/21/27

...

25,986

25,390

188623242.LC.FTS.B,

19.41%,

4/21/27

...

17,452

17,471

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

94

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

LendingClub

Corp.

-

LCX

PM

(continued)

188593509.LC.FTS.B,

19.44%,

4/21/27

...

$

6,981

$

6,989

188405983.LC.FTS.B,

20.49%,

4/21/27

...

16,986

16,853

188582913.LC.FTS.B,

20.49%,

4/21/27

...

21,363

21,271

188303635.LC.FTS.B,

20.99%,

4/21/27

...

11,189

11,096

188516416.LC.FTS.B,

20.99%,

4/21/27

...

11,650

11,662

188594404.LC.FTS.B,

20.99%,

4/21/27

...

29,125

29,019

188616263.LC.FTS.B,

20.99%,

4/21/27

...

14,562

14,578

188494026.LC.FTS.B,

21.99%,

4/21/27

...

18,461

18,418

188619005.LC.FTS.B,

23.99%,

4/21/27

...

11,628

11,575

188353998.LC.FTS.B,

25.99%,

4/21/27

...

19,493

19,444

188633218.LC.FTS.B,

28.99%,

4/21/27

...

11,721

11,690

188476890.LC.FTS.B,

17.49%,

4/22/27

...

7,743

7,790

188649648.LC.FTS.B,

18.44%,

4/22/27

...

29,692

5,503

188631083.LC.FTS.B,

18.99%,

4/22/27

...

4,846

4,853

188541138.LC.FTS.B,

20.49%,

4/22/27

...

7,205

7,181

188630360.LC.FTS.B,

20.49%,

4/22/27

...

21,349

21,278

188631251.LC.FTS.B,

23.99%,

4/22/27

...

19,123

19,083

188336757.LC.FTS.B,

20.49%,

4/25/27

...

38,817

38,881

1,546,047

Prosper

Funding

LLC

1654956.PS.FTS.B,

13.2%,

10/26/24

....

4,320

4,165

1644782.PS.FTS.B,

15%,

10/26/24

......

5,530

5,331

1648237.PS.FTS.B,

15.1%,

10/26/24

....

6,222

5,999

1645289.PS.FTS.B,

15.29%,

10/27/24

...

4,892

4,717

1645544.PS.FTS.B,

15.5%,

10/27/24

....

13,868

13,374

1655238.PS.FTS.B,

22.7%,

10/27/24

....

3,328

3,241

1649764.PS.FTS.B,

10.6%,

10/28/24

....

12,063

11,828

1649752.PS.FTS.B,

13.05%,

10/28/24

...

1,584

1,557

1646276.PS.FTS.B,

13.36%,

10/28/24

...

10,946

10,756

1649248.PS.FTS.B,

16.6%,

10/28/24

....

20,458

20,136

1649749.PS.FTS.B,

24.3%,

10/28/24

....

455

462

1657152.PS.FTS.B,

14.49%,

10/29/24

...

10,340

5,668

1657446.PS.FTS.B,

14.79%,

10/29/24

...

16,282

15,912

1647314.PS.FTS.B,

20.01%,

10/29/24

...

12,390

11,804

1651390.PS.FTS.B,

12%,

11/01/24

......

4,036

3,895

1648712.PS.FTS.B,

12.4%,

11/02/24

....

9,698

9,362

1660875.PS.FTS.B,

12%,

11/05/24

......

1,614

1,560

1654675.PS.FTS.B,

12.15%,

11/05/24

....

11,225

10,738

1660866.PS.FTS.B,

15.1%,

11/05/24

....

10,995

10,516

1660872.PS.FTS.B,

19.71%,

11/05/24

....

6,186

5,917

1651670.PS.FTS.B,

11.4%,

11/08/24

.....

5,238

5,064

1664688.PS.FTS.B,

11.4%,

11/08/24

.....

10,073

9,739

1657969.PS.FTS.B,

11.88%,

11/08/24

....

24,935

24,109

1657975.PS.FTS.B,

13.05%,

11/08/24

....

16,194

15,657

1658476.PS.FTS.B,

13.6%,

11/08/24

....

6,488

6,213

1651664.PS.FTS.B,

13.87%,

11/08/24

....

9,739

9,327

1658617.PS.FTS.B,

17.8%,

11/08/24

....

1,641

1,573

1665222.PS.FTS.B,

20.46%,

11/08/24

....

16,528

15,834

1653485.PS.FTS.B,

10.8%,

11/09/24

....

6,829

6,611

1658923.PS.FTS.B,

14.39%,

11/09/24

....

8,112

7,772

1653425.PS.FTS.B,

17.8%,

11/09/24

....

1,641

1,573

1666974.PS.FTS.B,

11.7%,

11/10/24

.....

6,452

6,242

1667316.PS.FTS.B,

15.4%,

11/10/24

....

8,131

7,792

1660087.PS.FTS.B,

16.02%,

11/10/24

....

4,073

3,907

1667151.PS.FTS.B,

18.09%,

11/14/24

....

4,115

3,944

1667154.PS.FTS.B,

17.8%,

11/15/24

....

3,566

3,421

1655232.PS.FTS.B,

11.5%,

11/20/24

.....

13,836

13,467

Description

Principal

Amount

Value

Prosper

Funding

LLC

(continued)

1649773.PS.FTS.B,

15.1%,

11/21/24

....

$

6,187

$

5,977

1650376.PS.FTS.B,

19.3%,

11/25/24

....

2,510

2,390

1661316.PS.FTS.B,

14.09%,

11/29/24

....

8,366

8,009

1659661.PS.FTS.B,

18.6%,

12/02/24

....

6,866

6,577

1656467.PS.FTS.B,

17.8%,

12/08/24

....

1,189

1,150

1686279.PS.FTS.B,

10.8%,

12/15/24

....

3,734

3,622

1686276.PS.FTS.B,

13.9%,

12/15/24

....

5,018

4,824

1686264.PS.FTS.B,

14.11%,

12/15/24

....

20,416

19,806

1679401.PS.FTS.B,

18.11%,

12/15/24

....

1,690

1,624

1686609.PS.FTS.B,

11.16%,

12/16/24

....

8,305

8,059

1673615.PS.FTS.B,

13.96%,

12/16/24

...

3,764

3,652

1680019.PS.FTS.B,

13.96%,

12/16/24

...

16,728

16,233

1686630.PS.FTS.B,

15.1%,

12/16/24

....

5,033

4,840

1686963.PS.FTS.B,

16%,

12/16/24

......

7,566

7,277

1674671.PS.FTS.B,

10.8%,

12/17/24

....

3,846

3,743

1680421.PS.FTS.B,

12.9%,

12/17/24

....

8,342

8,097

1674641.PS.FTS.B,

14.09%,

12/17/24

...

2,510

2,415

1680844.PS.FTS.B,

15.29%,

12/17/24

...

8,811

8,477

1687257.PS.FTS.B,

16%,

12/17/24

......

10,108

9,745

1687224.PS.FTS.B,

19.6%,

12/17/24

....

4,239

4,079

1674899.PS.FTS.B,

13.8%,

12/20/24

....

20,901

20,304

1681063.PS.FTS.B,

16%,

12/20/24

......

10,062

9,692

1681420.PS.FTS.B,

16.02%,

12/20/24

...

5,464

5,268

1689444.PS.FTS.B,

11.79%,

12/21/24

....

12,477

12,124

1675931.PS.FTS.B,

18.9%,

12/21/24

....

6,662

6,422

1675946.PS.FTS.B,

18.9%,

12/21/24

....

1,739

1,461

1675979.PS.FTS.B,

19.5%,

12/21/24

....

6,358

6,131

1676741.PS.FTS.B,

21.45%,

12/22/24

...

8,898

8,585

1683619.PS.FTS.B,

12.33%,

12/23/24

...

29,154

28,116

1691013.PS.FTS.B,

19.5%,

12/23/24

....

8,477

8,183

1673252.PS.FTS.B,

16.3%,

12/29/24

....

13,064

12,571

1690636.PS.FTS.B,

17%,

1/07/25

.......

8,657

8,287

1694140.PS.FTS.B,

12.3%,

1/12/25

.....

14,573

14,157

1693741.PS.FTS.B,

13.36%,

1/12/25

....

5,155

5,008

1693708.PS.FTS.B,

14.49%,

1/12/25

....

8,851

4,901

1687838.PS.FTS.B,

14.6%,

1/12/25

.....

12,060

11,602

1700598.PS.FTS.B,

14.74%,

1/12/25

....

4,276

4,171

1701024.PS.FTS.B,

15.1%,

1/12/25

.....

12,935

12,443

1700577.PS.FTS.B,

15.4%,

1/12/25

.....

4,957

4,805

1693717.PS.FTS.B,

15.7%,

1/12/25

.....

12,962

12,469

1700814.PS.FTS.B,

16.6%,

1/12/25

.....

12,975

12,481

1688219.PS.FTS.B,

16.7%,

1/12/25

.....

3,461

3,322

1700571.PS.FTS.B,

18.11%,

1/12/25

....

10,422

10,024

1693705.PS.FTS.B,

18.41%,

1/12/25

....

10,326

9,983

1693750.PS.FTS.B,

19.3%,

1/12/25

.....

4,349

4,174

1688198.PS.FTS.B,

19.5%,

1/12/25

.....

17,401

16,701

1700589.PS.FTS.B,

22.6%,

1/12/25

.....

5,690

5,460

1700610.PS.FTS.B,

22.6%,

1/12/25

.....

4,377

4,200

1688978.PS.FTS.B,

11.79%,

1/13/25

....

2,569

2,496

1695016.PS.FTS.B,

12.2%,

1/13/25

.....

16,284

15,823

1688477.PS.FTS.B,

17.59%,

1/13/25

....

2,597

2,150

1701786.PS.FTS.B,

20.01%,

1/13/25

....

2,613

2,509

1689320.PS.FTS.B,

12%,

1/14/25

.......

17,114

16,634

1702146.PS.FTS.B,

13.2%,

1/14/25

.....

3,436

3,339

1689317.PS.FTS.B,

13.4%,

1/14/25

.....

19,333

18,615

1695328.PS.FTS.B,

13.6%,

1/14/25

.....

3,439

3,311

1695337.PS.FTS.B,

13.6%,

1/14/25

.....

1,715

1,666

1695322.PS.FTS.B,

13.7%,

1/14/25

.....

3,009

2,925

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

95

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Prosper

Funding

LLC

(continued)

1695349.PS.FTS.B,

14.39%,

1/14/25

....

$

6,474

$

6,252

1702131.PS.FTS.B,

14.49%,

1/14/25

....

13,780

13,267

1689350.PS.FTS.B,

14.89%,

1/14/25

....

4,310

4,149

1702158.PS.FTS.B,

14.89%,

1/14/25

....

5,340

5,186

1689689.PS.FTS.B,

15.1%,

1/14/25

.....

6,899

6,642

1695658.PS.FTS.B,

15.8%,

1/14/25

.....

8,636

8,314

1702164.PS.FTS.B,

16.2%,

1/14/25

.....

1,729

1,661

1695730.PS.FTS.B,

16.6%,

1/14/25

.....

6,936

6,698

1695325.PS.FTS.B,

18.09%,

1/14/25

....

8,676

8,337

1689335.PS.FTS.B,

18.7%,

1/14/25

.....

1,871

263

1689326.PS.FTS.B,

19.3%,

1/14/25

.....

8,697

8,356

1702134.PS.FTS.B,

19.3%,

1/14/25

.....

13,061

12,562

1700568.PS.FTS.B,

11.6%,

1/16/25

.....

17,144

16,705

1680853.PS.FTS.B,

14%,

1/16/25

.......

29,277

28,167

1696453.PS.FTS.B,

14.39%,

1/18/25

....

5,166

4,982

1702737.PS.FTS.B,

15.1%,

1/18/25

.....

8,623

8,315

1691363.PS.FTS.B,

11.4%,

1/19/25

.....

4,278

4,163

1704912.PS.FTS.B,

12.3%,

1/19/25

.....

8,572

8,343

1692299.PS.FTS.B,

21.5%,

1/19/25

.....

3,494

3,366

1705407.PS.FTS.B,

13.5%,

1/20/25

.....

8,594

8,294

1706154.PS.FTS.B,

15.29%,

1/20/25

....

7,764

7,492

1705788.PS.FTS.B,

15.5%,

1/20/25

.....

21,576

20,821

1693714.PS.FTS.B,

22.6%,

1/20/25

.....

8,387

8,044

1698682.PS.FTS.B,

22.6%,

1/20/25

.....

5,252

5,066

1693661.PS.FTS.B,

21.69%,

1/21/25

....

3,058

2,952

1693753.PS.FTS.B,

24.4%,

1/21/25

.....

2,993

2,870

1702071.PS.FTS.B,

25.99%,

1/22/25

....

1,389

1,334

1706943.PS.FTS.B,

17.7%,

1/24/25

.....

17,339

16,753

1700725.PS.FTS.B,

18.4%,

1/24/25

.....

13,451

12,877

1690034.PS.FTS.B,

11.6%,

1/25/25

.....

4,719

4,605

1702114.PS.FTS.B,

16%,

1/25/25

.......

2,592

2,506

1711818.PS.FTS.B,

17.8%,

1/31/25

.....

17,946

17,440

1693775.PS.FTS.B,

22.6%,

2/01/25

.....

4,517

4,364

1702474.PS.FTS.B,

22%,

2/02/25

.......

22,513

21,829

1721664.PS.FTS.B,

11.4%,

2/15/25

.....

6,160

6,004

1708013.PS.FTS.B,

11.7%,

2/15/25

.....

6,163

6,007

1721415.PS.FTS.B,

11.7%,

2/15/25

.....

8,364

8,153

1721865.PS.FTS.B,

11.7%,

2/15/25

.....

8,804

8,582

1714678.PS.FTS.B,

11.79%,

2/15/25

....

13,127

12,796

1715365.PS.FTS.B,

11.79%,

2/15/25

....

11,308

11,034

1708001.PS.FTS.B,

11.89%,

2/15/25

....

8,807

8,585

1708025.PS.FTS.B,

12.3%,

2/15/25

.....

4,407

4,295

1708889.PS.FTS.B,

12.97%,

2/15/25

....

18,530

18,061

1721412.PS.FTS.B,

13.9%,

2/15/25

.....

8,838

8,614

1708019.PS.FTS.B,

14.2%,

2/15/25

.....

4,410

4,259

1721877.PS.FTS.B,

14.39%,

2/15/25

....

8,815

8,515

1721856.PS.FTS.B,

14.6%,

2/15/25

.....

10,176

9,828

1708022.PS.FTS.B,

15.29%,

2/15/25

....

17,975

836

1720959.PS.FTS.B,

16.6%,

2/15/25

.....

8,879

8,575

1715137.PS.FTS.B,

16.7%,

2/15/25

.....

11,100

10,686

1708658.PS.FTS.B,

17.2%,

2/15/25

.....

22,790

19,072

1708886.PS.FTS.B,

17.4%,

2/15/25

.....

22,226

21,396

1714681.PS.FTS.B,

22.6%,

2/15/25

.....

7,172

6,897

1714675.PS.FTS.B,

24.5%,

2/15/25

.....

13,520

13,013

1720995.PS.FTS.B,

25.4%,

2/15/25

.....

3,601

3,462

1721871.PS.FTS.B,

25.99%,

2/15/25

....

6,342

6,104

1722456.PS.FTS.B,

14.09%,

2/16/25

....

4,866

4,702

1715830.PS.FTS.B,

16.2%,

2/16/25

.....

1,775

1,709

Description

Principal

Amount

Value

Prosper

Funding

LLC

(continued)

1715824.PS.FTS.B,

17%,

2/16/25

.......

$

2,665

$

2,567

1715869.PS.FTS.B,

23.13%,

2/16/25

....

4,485

4,318

1722855.PS.FTS.B,

14.6%,

2/17/25

.....

8,849

8,553

1721859.PS.FTS.B,

15.4%,

2/17/25

.....

16,408

15,847

1716898.PS.FTS.B,

21%,

2/17/25

.......

8,943

8,612

1712990.PS.FTS.B,

17%,

2/23/25

.......

4,887

4,725

1720297.PS.FTS.B,

18.6%,

2/23/25

.....

5,480

5,297

1720956.PS.FTS.B,

15.1%,

2/28/25

.....

11,363

11,014

1708007.PS.FTS.B,

15.29%,

2/28/25

....

7,704

7,462

1722244.PS.FTS.B,

17.54%,

2/28/25

....

22,801

22,451

1724746.PS.FTS.B,

22.6%,

3/03/25

.....

10,572

10,136

1749364.PS.FTS.B,

13.1%,

4/05/25

.....

2,930

2,871

1752441.PS.FTS.B,

13.7%,

4/05/25

.....

6,985

6,840

1752462.PS.FTS.B,

17%,

4/05/25

.......

5,140

4,955

1749358.PS.FTS.B,

18.09%,

4/05/25

....

1,871

1,804

1742756.PS.FTS.B,

18.6%,

4/05/25

.....

3,744

3,609

1749697.PS.FTS.B,

13.7%,

4/06/25

.....

13,969

13,683

1749733.PS.FTS.B,

13.9%,

4/06/25

.....

5,589

5,426

1749727.PS.FTS.B,

18.11%,

4/06/25

....

18,711

18,165

1743599.PS.FTS.B,

24.3%,

4/06/25

.....

7,153

6,874

1744490.PS.FTS.B,

12.3%,

4/07/25

.....

9,299

9,110

1744514.PS.FTS.B,

12.4%,

4/07/25

.....

2,790

2,733

1744496.PS.FTS.B,

12.98%,

4/07/25

....

13,907

13,627

1750534.PS.FTS.B,

13.6%,

4/07/25

.....

9,312

9,123

1744337.PS.FTS.B,

14.09%,

4/07/25

....

6,522

6,334

1751011.PS.FTS.B,

14.09%,

4/07/25

....

13,975

13,573

1753725.PS.FTS.B,

14.6%,

4/07/25

.....

4,195

4,074

1750519.PS.FTS.B,

15.1%,

4/07/25

.....

7,461

7,247

1743983.PS.FTS.B,

15.86%,

4/07/25

....

4,029

3,938

1753728.PS.FTS.B,

16.8%,

4/07/25

.....

1,869

1,815

1750543.PS.FTS.B,

17%,

4/07/25

.......

8,878

8,567

1744487.PS.FTS.B,

18.09%,

4/07/25

....

18,992

18,327

1744493.PS.FTS.B,

19.3%,

4/07/25

.....

18,734

18,077

1753737.PS.FTS.B,

19.6%,

4/07/25

.....

2,811

2,712

1744502.PS.FTS.B,

20.46%,

4/07/25

....

6,564

6,334

1750528.PS.FTS.B,

21.5%,

4/07/25

.....

4,694

4,529

1743971.PS.FTS.B,

22.9%,

4/07/25

.....

14,100

13,559

1744373.PS.FTS.B,

23.13%,

4/07/25

....

3,761

3,629

1751233.PS.FTS.B,

23.3%,

4/07/25

.....

6,799

6,601

1750522.PS.FTS.B,

24.11%,

4/07/25

....

4,705

4,525

1755219.PS.FTS.B,

13.4%,

4/08/25

.....

1,225

1,217

1745207.PS.FTS.B,

13.7%,

4/08/25

.....

4,656

4,524

1745342.PS.FTS.B,

13.9%,

4/08/25

.....

11,178

10,861

1745288.PS.FTS.B,

15.9%,

4/08/25

.....

1,867

1,814

1755081.PS.FTS.B,

16.06%,

4/08/25

....

6,068

5,896

1745195.PS.FTS.B,

17.8%,

4/08/25

.....

1,915

1,120

1744778.PS.FTS.B,

18.09%,

4/08/25

....

7,952

7,678

1745372.PS.FTS.B,

18.41%,

4/08/25

....

4,305

4,183

1755180.PS.FTS.B,

18.83%,

4/08/25

....

5,266

2,892

1751899.PS.FTS.B,

22.6%,

4/08/25

.....

6,578

6,330

1751959.PS.FTS.B,

23.59%,

4/08/25

....

1,881

1,810

1752910.PS.FTS.B,

10.5%,

4/11/25

.....

9,280

9,102

1752838.PS.FTS.B,

14.6%,

4/11/25

.....

4,661

4,534

1755447.PS.FTS.B,

15.4%,

4/11/25

.....

20,712

20,147

1755426.PS.FTS.B,

19.83%,

4/11/25

....

1,394

1,381

1754245.PS.FTS.B,

16%,

4/12/25

.......

14,003

13,551

1746620.PS.FTS.B,

18.4%,

4/12/25

.....

1,872

1,811

1747616.PS.FTS.B,

18.5%,

4/12/25

.....

2,394

1,320

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

96

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Prosper

Funding

LLC

(continued)

1754725.PS.FTS.B,

16%,

4/13/25

.......

$

1,867

$

1,808

1748282.PS.FTS.B,

18.09%,

4/13/25

....

12,310

3,069

1757928.PS.FTS.B,

22.6%,

4/13/25

.....

3,759

3,629

1757895.PS.FTS.B,

24.4%,

4/13/25

.....

9,413

9,087

1755715.PS.FTS.B,

22.6%,

4/14/25

.....

4,000

589

1757065.PS.FTS.B,

22.06%,

4/15/25

....

11,271

10,896

1750469.PS.FTS.B,

19.5%,

4/17/25

.....

5,138

4,980

1750525.PS.FTS.B,

18.41%,

4/19/25

....

7,533

7,362

1762446.PS.FTS.B,

25.4%,

4/19/25

.....

9,422

9,132

1744517.PS.FTS.B,

13.96%,

4/21/25

....

1,874

1,844

1755585.PS.FTS.B,

17.84%,

4/25/25

....

16,954

16,594

1755967.PS.FTS.B,

22.6%,

4/26/25

.....

2,366

2,299

1655643.PS.FTS.B,

19.41%,

10/11/25

....

17,732

10,541

1648681.PS.FTS.B,

12.21%,

10/27/26

...

5,394

5,234

1655640.PS.FTS.B,

16.33%,

10/27/26

...

19,920

19,457

1648879.PS.FTS.B,

16.63%,

10/27/26

...

13,638

13,063

1648717.PS.FTS.B,

17.5%,

10/27/26

....

4,026

3,850

1655235.PS.FTS.B,

24.03%,

10/27/26

...

12,944

12,534

1645088.PS.FTS.B,

28.23%,

10/27/26

...

4,653

4,502

1649857.PS.FTS.B,

10.5%,

10/28/26

....

13,422

13,149

1656498.PS.FTS.B,

10.9%,

10/28/26

....

6,718

6,584

1649872.PS.FTS.B,

11.6%,

10/28/26

....

7,180

7,041

1649350.PS.FTS.B,

18.78%,

10/28/26

...

12,337

12,018

1657464.PS.FTS.B,

10.5%,

10/29/26

....

8,216

7,943

1657209.PS.FTS.B,

10.7%,

10/29/26

....

22,398

21,672

1646555.PS.FTS.B,

10.9%,

10/29/26

....

22,394

21,621

1646513.PS.FTS.B,

13.2%,

10/29/26

....

13,520

12,860

1646915.PS.FTS.B,

16.1%,

10/29/26

....

13,620

12,843

1656576.PS.FTS.B,

16.18%,

10/29/26

...

31,786

30,228

1647026.PS.FTS.B,

17%,

10/29/26

......

14,105

13,298

1650706.PS.FTS.B,

17.23%,

10/29/26

...

18,316

17,518

1658775.PS.FTS.B,

12.5%,

11/02/26

....

31,431

30,372

1658586.PS.FTS.B,

23.64%,

11/02/26

....

18,463

17,426

1651289.PS.FTS.B,

14.68%,

11/05/26

....

9,044

8,744

1660869.PS.FTS.B,

19%,

11/05/26

......

8,224

7,781

1651286.PS.FTS.B,

24.33%,

11/05/26

....

13,867

13,210

1664685.PS.FTS.B,

11.79%,

11/08/26

....

17,952

17,372

1664694.PS.FTS.B,

11.89%,

11/08/26

....

4,802

271

1665042.PS.FTS.B,

14.68%,

11/08/26

....

13,565

13,125

1657981.PS.FTS.B,

16.8%,

11/08/26

....

10,454

9,978

1665216.PS.FTS.B,

16.9%,

11/08/26

....

20,823

19,737

1657978.PS.FTS.B,

24%,

11/08/26

......

13,857

13,228

1666032.PS.FTS.B,

10.5%,

11/09/26

....

13,417

12,987

1658917.PS.FTS.B,

10.7%,

11/09/26

....

12,530

12,128

1666464.PS.FTS.B,

15.29%,

11/09/26

....

9,057

8,649

1654475.PS.FTS.B,

10.8%,

11/10/26

....

13,428

13,001

1660093.PS.FTS.B,

10.9%,

11/10/26

....

4,477

4,335

1666896.PS.FTS.B,

11.7%,

11/10/26

.....

23,363

22,708

1654034.PS.FTS.B,

13.6%,

11/10/26

....

9,019

8,616

1653758.PS.FTS.B,

13.75%,

11/10/26

....

35,835

34,692

1654154.PS.FTS.B,

13.8%,

11/10/26

....

7,519

–

1660063.PS.FTS.B,

16.9%,

11/10/26

....

12,730

12,080

1660264.PS.FTS.B,

18.2%,

11/10/26

....

10,763

10,211

1665225.PS.FTS.B,

19.53%,

11/11/26

....

6,416

6,083

1654907.PS.FTS.B,

16%,

11/12/26

......

9,083

8,633

1652072.PS.FTS.B,

11.1%,

11/15/26

.....

8,981

8,710

1667685.PS.FTS.B,

17.1%,

11/15/26

....

22,744

21,603

1664691.PS.FTS.B,

19.98%,

11/20/26

....

18,345

18,345

Description

Principal

Amount

Value

Prosper

Funding

LLC

(continued)

1660267.PS.FTS.B,

14%,

11/24/26

......

$

25,043

$

23,926

1664865.PS.FTS.B,

14.29%,

12/01/26

...

12,021

11,531

1661322.PS.FTS.B,

15.18%,

12/04/26

...

6,503

1,381

1673249.PS.FTS.B,

10.7%,

12/15/26

....

16,355

15,884

1679392.PS.FTS.B,

13.8%,

12/15/26

....

6,406

6,144

1673255.PS.FTS.B,

17.01%,

12/15/26

...

12,902

12,283

1673258.PS.FTS.B,

18.48%,

12/15/26

...

7,857

7,479

1686267.PS.FTS.B,

21.18%,

12/15/26

...

9,293

8,844

1679752.PS.FTS.B,

10.71%,

12/16/26

...

13,629

13,240

1686606.PS.FTS.B,

10.8%,

12/16/26

....

31,808

30,901

1686624.PS.FTS.B,

11.2%,

12/16/26

....

5,237

5,091

1673600.PS.FTS.B,

11.6%,

12/16/26

....

9,105

8,845

1686618.PS.FTS.B,

11.7%,

12/16/26

....

18,215

17,695

1679995.PS.FTS.B,

12.7%,

12/16/26

....

4,850

4,748

1673606.PS.FTS.B,

16.33%,

12/16/26

...

7,132

6,841

1686612.PS.FTS.B,

16.8%,

12/16/26

....

22,920

21,987

1679746.PS.FTS.B,

16.93%,

12/16/26

...

13,821

13,258

1686639.PS.FTS.B,

18.33%,

12/16/26

...

4,620

4,401

1673612.PS.FTS.B,

19.3%,

12/16/26

....

5,555

5,291

1686615.PS.FTS.B,

24.77%,

12/16/26

...

9,355

8,966

1674065.PS.FTS.B,

27.18%,

12/16/26

...

14,091

13,500

1673603.PS.FTS.B,

12.6%,

12/17/26

....

27,389

26,607

1674635.PS.FTS.B,

13.77%,

12/17/26

...

15,556

14,930

1681444.PS.FTS.B,

9.81%,

12/20/26

....

18,133

17,632

1681423.PS.FTS.B,

10.08%,

12/20/26

...

13,609

13,233

1688043.PS.FTS.B,

10.5%,

12/20/26

....

10,898

10,597

1681000.PS.FTS.B,

11.6%,

12/20/26

....

12,394

10,109

1681408.PS.FTS.B,

14.7%,

12/20/26

....

9,170

8,810

1675322.PS.FTS.B,

21.09%,

12/20/26

...

13,937

13,399

1676714.PS.FTS.B,

12.62%,

12/21/26

...

31,944

31,067

1690635.PS.FTS.B,

16%,

12/23/26

......

22,070

21,103

1680814.PS.FTS.B,

16.5%,

12/28/26

....

29,512

28,402

1682491.PS.FTS.B,

18.48%,

12/29/26

...

13,334

12,822

1687683.PS.FTS.B,

11.61%,

1/02/27

....

16,708

16,322

1693747.PS.FTS.B,

10.9%,

1/12/27

.....

4,611

4,486

1694158.PS.FTS.B,

12.54%,

1/12/27

....

5,551

5,400

1687826.PS.FTS.B,

12.6%,

1/12/27

.....

11,103

10,801

1688138.PS.FTS.B,

13.6%,

1/12/27

.....

32,446

31,171

1700574.PS.FTS.B,

14%,

1/12/27

.......

8,814

8,467

1700562.PS.FTS.B,

15.18%,

1/12/27

....

21,538

20,981

1693720.PS.FTS.B,

16.18%,

1/12/27

....

7,452

7,158

1693702.PS.FTS.B,

18.33%,

1/12/27

....

16,723

15,922

1687832.PS.FTS.B,

18.78%,

1/12/27

....

11,229

10,692

1693711.PS.FTS.B,

21.63%,

1/12/27

....

9,402

8,992

1688201.PS.FTS.B,

24.03%,

1/12/27

....

9,437

9,023

1694581.PS.FTS.B,

10.5%,

1/13/27

.....

13,821

13,450

1701357.PS.FTS.B,

11.7%,

1/13/27

.....

9,236

8,988

1694575.PS.FTS.B,

11.99%,

1/13/27

....

19,407

18,885

1688975.PS.FTS.B,

12.4%,

1/13/27

.....

20,348

19,800

1688543.PS.FTS.B,

16.18%,

1/13/27

....

13,992

13,494

1689314.PS.FTS.B,

10.26%,

1/14/27

....

32,234

31,375

1689533.PS.FTS.B,

10.5%,

1/14/27

.....

5,068

4,933

1695319.PS.FTS.B,

10.5%,

1/14/27

.....

23,035

22,421

1689332.PS.FTS.B,

14.29%,

1/14/27

....

15,493

14,906

1695334.PS.FTS.B,

15.1%,

1/14/27

.....

10,226

9,830

1689353.PS.FTS.B,

16%,

1/14/27

.......

4,221

4,037

1702050.PS.FTS.B,

18.78%,

1/14/27

....

9,357

8,919

1689626.PS.FTS.B,

19%,

1/14/27

.......

9,361

8,922

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

97

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Prosper

Funding

LLC

(continued)

1689323.PS.FTS.B,

26.88%,

1/14/27

....

$

2,843

$

2,721

1689608.PS.FTS.B,

28.23%,

1/14/27

....

14,242

13,626

1694068.PS.FTS.B,

14.38%,

1/15/27

....

16,212

15,789

1700580.PS.FTS.B,

25.4%,

1/15/27

.....

14,215

13,604

1689992.PS.FTS.B,

11.7%,

1/18/27

.....

28,670

28,015

1696093.PS.FTS.B,

16%,

1/18/27

.......

13,968

13,346

1693726.PS.FTS.B,

17%,

1/18/27

.......

9,355

8,936

1703229.PS.FTS.B,

17.5%,

1/18/27

.....

6,215

1,576

1689947.PS.FTS.B,

18.2%,

1/18/27

.....

5,502

5,254

1704399.PS.FTS.B,

13.8%,

1/19/27

.....

32,459

31,261

1691645.PS.FTS.B,

22.9%,

1/19/27

.....

1,884

1,810

1705371.PS.FTS.B,

12.62%,

1/20/27

....

27,759

27,055

1692635.PS.FTS.B,

14.7%,

1/20/27

.....

23,224

22,374

1693040.PS.FTS.B,

15.29%,

1/20/27

....

13,950

13,439

1705833.PS.FTS.B,

18.48%,

1/20/27

....

3,741

3,577

1693289.PS.FTS.B,

12.9%,

1/21/27

.....

9,258

9,025

1702128.PS.FTS.B,

13.4%,

1/23/27

.....

13,951

13,619

1700559.PS.FTS.B,

15.29%,

1/23/27

....

62

62

1695374.PS.FTS.B,

15.12%,

1/25/27

....

32,539

31,404

1689341.PS.FTS.B,

11.7%,

1/28/27

.....

14,051

13,918

1715428.PS.FTS.B,

9.99%,

2/15/27

.....

4,669

4,558

1708010.PS.FTS.B,

10.5%,

2/15/27

.....

9,813

9,580

1708649.PS.FTS.B,

10.5%,

2/15/27

.....

19,500

2,411

1714702.PS.FTS.B,

11.6%,

2/15/27

.....

3,277

3,199

1720965.PS.FTS.B,

11.7%,

2/15/27

.....

23,409

22,854

1708892.PS.FTS.B,

11.79%,

2/15/27

....

18,730

18,286

1714669.PS.FTS.B,

11.79%,

2/15/27

....

12,175

11,886

1721862.PS.FTS.B,

12.3%,

2/15/27

.....

9,373

9,150

1708910.PS.FTS.B,

12.5%,

2/15/27

.....

6,596

6,464

1707998.PS.FTS.B,

13.5%,

2/15/27

.....

16,903

16,314

1708442.PS.FTS.B,

13.5%,

2/15/27

.....

11,269

10,876

1714672.PS.FTS.B,

14.53%,

2/15/27

....

14,108

13,772

1714684.PS.FTS.B,

14.53%,

2/15/27

....

14,101

13,765

1720971.PS.FTS.B,

14.7%,

2/15/27

.....

19,098

18,432

1720962.PS.FTS.B,

15.1%,

2/15/27

.....

9,292

8,968

1707995.PS.FTS.B,

15.7%,

2/15/27

.....

32,977

31,825

1715584.PS.FTS.B,

16.33%,

2/15/27

....

6,602

6,371

1708445.PS.FTS.B,

16.63%,

2/15/27

....

1,887

1,806

1708439.PS.FTS.B,

16.7%,

2/15/27

.....

5,662

5,418

1714690.PS.FTS.B,

17.1%,

2/15/27

.....

4,778

3,983

1714666.PS.FTS.B,

18.13%,

2/15/27

....

23,638

22,809

1715575.PS.FTS.B,

18.59%,

2/15/27

....

9,302

8,897

1708043.PS.FTS.B,

19%,

2/15/27

.......

2,676

2,604

1715572.PS.FTS.B,

21.5%,

2/15/27

.....

14,248

13,674

1720989.PS.FTS.B,

23.3%,

2/15/27

.....

4,023

3,847

1715140.PS.FTS.B,

24.03%,

2/15/27

....

3,355

3,204

1708028.PS.FTS.B,

28.23%,

2/15/27

....

2,873

2,754

1715893.PS.FTS.B,

10.8%,

2/16/27

.....

7,480

7,304

1709177.PS.FTS.B,

13.19%,

2/16/27

....

6,570

6,345

1709807.PS.FTS.B,

15.1%,

2/16/27

.....

16,945

16,359

1722345.PS.FTS.B,

15.7%,

2/16/27

.....

29,209

28,198

1709228.PS.FTS.B,

18.48%,

2/16/27

....

13,244

12,678

1709420.PS.FTS.B,

21.18%,

2/16/27

....

10,349

9,904

1716991.PS.FTS.B,

13.7%,

2/17/27

.....

23,484

22,682

1710296.PS.FTS.B,

21.18%,

2/17/27

....

9,495

9,091

1709822.PS.FTS.B,

26.2%,

2/17/27

.....

14,331

13,762

1711007.PS.FTS.B,

18.78%,

2/18/27

....

15,899

15,235

1710686.PS.FTS.B,

19%,

2/18/27

.......

9,467

9,071

Description

Principal

Amount

Value

Prosper

Funding

LLC

(continued)

1723455.PS.FTS.B,

19%,

2/18/27

.......

$

4,733

$

4,536

1717768.PS.FTS.B,

26.51%,

2/18/27

....

1,907

1,832

1724112.PS.FTS.B,

11.2%,

2/22/27

......

16,654

16,285

1724598.PS.FTS.B,

28.49%,

2/22/27

....

5,747

5,535

1720876.PS.FTS.B,

18.4%,

2/24/27

.....

17,352

16,626

1721887.PS.FTS.B,

22.4%,

2/25/27

.....

7,689

7,427

1728675.PS.FTS.B,

13.7%,

2/28/27

.....

14,276

14,009

1715533.PS.FTS.B,

17.23%,

2/28/27

....

5,823

5,710

1725226.PS.FTS.B,

11.5%,

3/03/27

.....

9,498

9,316

1710332.PS.FTS.B,

16.18%,

3/10/27

....

14,471

14,111

1749361.PS.FTS.B,

10.5%,

4/05/27

.....

13,459

13,204

1742753.PS.FTS.B,

11.7%,

4/05/27

.....

13,475

13,221

1752447.PS.FTS.B,

12.5%,

4/05/27

.....

4,816

4,725

1749355.PS.FTS.B,

12.7%,

4/05/27

.....

33,709

33,072

1742747.PS.FTS.B,

14.38%,

4/05/27

....

10,133

9,941

1742750.PS.FTS.B,

16.18%,

4/05/27

....

8,217

7,980

1752456.PS.FTS.B,

16.18%,

4/05/27

....

5,800

5,633

1752438.PS.FTS.B,

18.13%,

4/05/27

....

9,683

9,404

1752444.PS.FTS.B,

19.3%,

4/05/27

.....

23,801

22,888

1749730.PS.FTS.B,

11.6%,

4/06/27

.....

14,628

7,141

1752882.PS.FTS.B,

12.4%,

4/06/27

.....

4,816

4,726

1752861.PS.FTS.B,

12.5%,

4/06/27

.....

9,633

9,453

1750048.PS.FTS.B,

13.13%,

4/06/27

....

14,458

14,047

1750153.PS.FTS.B,

16.9%,

4/06/27

.....

8,706

8,378

1750045.PS.FTS.B,

29.69%,

4/06/27

....

9,770

9,390

1750531.PS.FTS.B,

10.5%,

4/07/27

.....

12,696

12,466

1743968.PS.FTS.B,

11.2%,

4/07/27

.....

16,355

16,053

1744484.PS.FTS.B,

11.2%,

4/07/27

.....

33,672

33,050

1754274.PS.FTS.B,

11.6%,

4/07/27

.....

3,369

3,306

1750540.PS.FTS.B,

12.21%,

4/07/27

....

8,667

8,507

1754268.PS.FTS.B,

13.4%,

4/07/27

.....

9,641

9,371

1751020.PS.FTS.B,

14.49%,

4/07/27

....

5,689

5,530

1753719.PS.FTS.B,

14.68%,

4/07/27

....

15,445

15,160

1750549.PS.FTS.B,

15.5%,

4/07/27

.....

9,661

9,389

1744499.PS.FTS.B,

18.48%,

4/07/27

....

8,718

8,394

1750933.PS.FTS.B,

18.48%,

4/07/27

....

6,753

6,497

1744412.PS.FTS.B,

19%,

4/07/27

.......

12,598

12,129

1753968.PS.FTS.B,

24.8%,

4/07/27

.....

13,143

12,645

1753722.PS.FTS.B,

26.64%,

4/07/27

....

15,111

14,545

1745348.PS.FTS.B,

10.4%,

4/08/27

.....

28,838

28,312

1745183.PS.FTS.B,

10.5%,

4/08/27

.....

8,172

8,022

1745378.PS.FTS.B,

12.2%,

4/08/27

.....

14,445

14,182

1755102.PS.FTS.B,

15.29%,

4/08/27

....

28,976

28,172

1745375.PS.FTS.B,

17.1%,

4/08/27

.....

1,845

1,823

1749376.PS.FTS.B,

19.06%,

4/10/27

....

5,345

5,179

1755504.PS.FTS.B,

10.29%,

4/11/27

....

8,650

8,498

1745708.PS.FTS.B,

11.79%,

4/11/27

.....

2,861

2,811

1752913.PS.FTS.B,

15.5%,

4/11/27

.....

9,661

9,402

1755513.PS.FTS.B,

21%,

4/11/27

.......

5,824

5,619

1752781.PS.FTS.B,

22.5%,

4/11/27

.....

1,944

1,875

1754277.PS.FTS.B,

25.9%,

4/11/27

.....

3,391

3,261

1755417.PS.FTS.B,

25.9%,

4/11/27

.....

3,118

3,007

1756983.PS.FTS.B,

13.6%,

4/12/27

.....

6,750

6,572

1754122.PS.FTS.B,

15.1%,

4/12/27

.....

19,314

18,805

1756335.PS.FTS.B,

18.33%,

4/12/27

....

22,760

21,972

1747178.PS.FTS.B,

19%,

4/12/27

.......

14,051

13,565

1759314.PS.FTS.B,

10.8%,

4/14/27

.....

9,617

9,454

1760241.PS.FTS.B,

15%,

4/15/27

.......

14,490

14,212

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

98

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Prosper

Funding

LLC

(continued)

1742765.PS.FTS.B,

18%,

4/15/27

.......

$

5,819

$

5,639

1742759.PS.FTS.B,

19.23%,

4/15/27

....

20,466

19,833

1762938.PS.FTS.B,

16.83%,

4/20/27

....

16,341

15,841

1752091.PS.FTS.B,

13.2%,

4/22/27

.....

33,915

33,182

1750289.PS.FTS.B,

15%,

4/22/27

.......

19,368

18,997

4,574,472

Upgrade,

Inc.

22438775.UG.FTS.B,

25.26%,

9/05/22

...

77

78

22672182.UG.FTS.B,

18.46%,

9/12/22

...

72

72

22666892.UG.FTS.B,

21.38%,

9/13/22

...

221

223

22702134.UG.FTS.B,

25.26%,

9/13/22

...

232

234

22702948.UG.FTS.B,

30.51%,

9/13/22

...

165

167

22667351.UG.FTS.B,

24.29%,

9/16/22

...

765

771

22770418.UG.FTS.B,

24.99%,

9/16/22

...

639

648

22753858.UG.FTS.B,

25.26%,

9/16/22

...

194

195

22841486.UG.FTS.B,

25.26%,

9/18/22

...

155

156

22857786.UG.FTS.B,

25.26%,

9/18/22

...

139

140

22861454.UG.FTS.B,

14.29%,

9/19/22

...

3,033

3,047

22779897.UG.FTS.B,

23.3%,

9/20/22

....

11,510

11,543

22783150.UG.FTS.B,

23.3%,

9/20/22

....

2,768

2,788

22876808.UG.FTS.B,

25.26%,

9/20/22

...

77

78

22763832.UG.FTS.B,

24.99%,

9/23/22

...

347

351

22939405.UG.FTS.B,

25.26%,

9/23/22

...

348

70

22944878.UG.FTS.B,

25.26%,

9/23/22

...

115

115

22964190.UG.FTS.B,

25.26%,

9/23/22

...

160

162

22979375.UG.FTS.B,

25.26%,

9/23/22

...

387

391

22988429.UG.FTS.B,

25.26%,

9/24/22

...

193

195

23034614.UG.FTS.B,

14.29%,

9/25/22

...

202

203

22954021.UG.FTS.B,

22.34%,

9/25/22

...

597

603

23032371.UG.FTS.B,

23.3%,

9/25/22

....

1,133

1,144

23044060.UG.FTS.B,

24.29%,

9/25/22

...

385

388

22781687.UG.FTS.B,

24.99%,

9/25/22

...

490

496

23037218.UG.FTS.B,

25.26%,

9/25/22

...

1,290

1,309

23114330.UG.FTS.B,

14.29%,

9/27/22

...

101

101

22986535.UG.FTS.B,

25.26%,

9/27/22

...

77

78

23005783.UG.FTS.B,

25.26%,

9/27/22

...

234

237

23103311.UG.FTS.B,

25.26%,

9/27/22

...

133

134

23101902.UG.FTS.B,

Zero

Cpn,

9/30/22

..

7,286

563

23093039.UG.FTS.B,

19.99%,

9/30/22

...

1,078

1,082

23046422.UG.FTS.B,

24.99%,

9/30/22

...

400

402

23104544.UG.FTS.B,

30.51%,

9/30/22

...

122

123

23086157.UG.FTS.B,

14.19%,

10/01/22

..

28

28

23002914.UG.FTS.B,

24.29%,

10/01/22

..

227

228

22873129.UG.FTS.B,

25.26%,

10/01/22

..

229

231

23040213.UG.FTS.B,

30.51%,

10/01/22

..

123

125

22781468.UG.FTS.B,

25.26%,

10/02/22

..

287

289

23118664.UG.FTS.B,

14.19%,

10/11/22

..

703

706

23096819.UG.FTS.B,

22.34%,

10/11/22

..

1,559

1,570

23524670.UG.FTS.B,

25.26%,

10/15/22

..

115

116

23527524.UG.FTS.B,

25.26%,

10/15/22

..

741

751

23791466.UG.FTS.B,

25.26%,

10/15/22

..

2,370

2,392

23575274.UG.FTS.B,

25.26%,

10/16/22

..

204

207

23675246.UG.FTS.B,

19.99%,

10/18/22

..

539

544

23584111.UG.FTS.B,

25.26%,

10/18/22

..

345

349

23742441.UG.FTS.B,

23.3%,

10/22/22

...

112

113

23822313.UG.FTS.B,

25.26%,

10/24/22

..

2,576

2,610

23781973.UG.FTS.B,

25.26%,

10/27/22

..

653

663

Description

Principal

Amount

Value

Upgrade,

Inc.

(continued)

23859482.UG.FTS.B,

22.34%,

10/29/22

..

$

440

$

442

24221831.UG.FTS.B,

25.26%,

11/01/22

..

145

146

24306897.UG.FTS.B,

18.46%,

11/12/22

..

420

423

24373284.UG.FTS.B,

24.29%,

11/12/22

..

1,298

1,310

24334777.UG.FTS.B,

30.51%,

11/12/22

..

161

164

24404955.UG.FTS.B,

25.26%,

11/13/22

..

2,344

2,368

24446475.UG.FTS.B,

24.99%,

11/14/22

..

1,924

153

23846140.UG.FTS.B,

19.99%,

11/18/22

..

927

935

24491583.UG.FTS.B,

25.26%,

11/18/22

..

2,243

2,154

24575211.UG.FTS.B,

24.99%,

11/19/22

..

604

613

24590722.UG.FTS.B,

25.26%,

11/19/22

..

2,351

2,377

24615342.UG.FTS.B,

22.34%,

11/20/22

..

146

148

24439599.UG.FTS.B,

25.26%,

11/21/22

..

878

890

24625123.UG.FTS.B,

14.29%,

11/22/22

..

1,199

1,210

24326904.UG.FTS.B,

25.26%,

11/27/22

..

607

616

24808854.UG.FTS.B,

24.29%,

11/29/22

..

931

935

24649283.UG.FTS.B,

25.26%,

11/30/22

..

794

798

24500657.UG.FTS.B,

30.51%,

12/01/22

..

109

109

24902955.UG.FTS.B,

21.38%,

12/02/22

..

1,681

1,687

24979660.UG.FTS.B,

25.26%,

12/05/22

..

284

45

25012265.UG.FTS.B,

25.26%,

12/06/22

..

187

189

25024273.UG.FTS.B,

21.38%,

12/09/22

..

1,496

624

24925862.UG.FTS.B,

25.26%,

12/10/22

..

489

493

25142159.UG.FTS.B,

25.26%,

12/10/22

..

4,687

4,745

25173580.UG.FTS.B,

25.26%,

12/11/22

..

187

190

24982240.UG.FTS.B,

30.51%,

12/12/22

..

487

500

25213484.UG.FTS.B,

25.26%,

12/13/22

..

375

380

25041265.UG.FTS.B,

23.3%,

12/16/22

...

2,915

2,883

25262625.UG.FTS.B,

25.26%,

12/16/22

..

155

157

25350019.UG.FTS.B,

19.99%,

12/18/22

..

1,769

1,785

25181624.UG.FTS.B,

25.26%,

12/19/22

..

5,421

5,488

25363736.UG.FTS.B,

25.26%,

12/19/22

..

376

380

24996014.UG.FTS.B,

25.26%,

12/21/22

..

6,866

6,510

25448082.UG.FTS.B,

24.29%,

12/23/22

..

1,855

1,883

25425443.UG.FTS.B,

25.26%,

12/23/22

..

187

191

25472241.UG.FTS.B,

25.26%,

12/23/22

..

188

191

25412581.UG.FTS.B,

30.51%,

12/23/22

..

297

307

25461625.UG.FTS.B,

25.26%,

12/24/22

..

1,372

1,393

25533812.UG.FTS.B,

30.51%,

12/26/22

..

1,983

2,050

25584542.UG.FTS.B,

25.26%,

12/27/22

..

1,125

1,146

25623976.UG.FTS.B,

24.99%,

12/30/22

..

942

947

25501555.UG.FTS.B,

25.26%,

12/30/22

..

713

729

25646311.UG.FTS.B,

25.26%,

12/31/22

..

2,219

2,239

25702061.UG.FTS.B,

25.26%,

1/02/23

...

892

897

25635833.UG.FTS.B,

25.26%,

1/03/23

...

334

337

25770054.UG.FTS.B,

25.26%,

1/03/23

...

267

103

25794770.UG.FTS.B,

Zero

Cpn,

1/06/23

..

1,160

90

25777408.UG.FTS.B,

25.26%,

1/06/23

...

961

963

25697010.UG.FTS.B,

21.38%,

1/07/23

...

5,770

5,816

25786616.UG.FTS.B,

25.26%,

1/07/23

...

366

30

22994162.UG.FTS.B,

25.26%,

1/27/23

...

12,432

12,465

22444070.UG.FTS.B,

27.74%,

9/10/24

...

5,662

5,734

22753947.UG.FTS.B,

28.99%,

9/16/24

...

11,552

12,186

22724262.UG.FTS.B,

29.69%,

9/17/24

...

15,285

16,229

22728779.UG.FTS.B,

15.62%,

9/20/24

...

6,878

7,136

23038391.UG.FTS.B,

26.77%,

9/26/24

...

7,435

7,819

23059552.UG.FTS.B,

29.69%,

9/26/24

...

21,398

22,810

22941723.UG.FTS.B,

29.69%,

9/30/24

...

9,588

10,064

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

99

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

(continued)

22932098.UG.FTS.B,

28.71%,

10/01/24

..

$

12,451

$

13,037

22762086.UG.FTS.B,

29.69%,

10/01/24

..

28,487

22,238

22732959.UG.FTS.B,

28.71%,

10/03/24

..

15,563

16,293

23091427.UG.FTS.B,

29.69%,

10/08/24

..

17,341

2,342

23786228.UG.FTS.B,

29.69%,

10/28/24

..

7,623

8,102

24184289.UG.FTS.B,

27.74%,

11/06/24

..

10,134

10,576

23755909.UG.FTS.B,

29.69%,

11/06/24

..

9,693

10,171

24800940.UG.FTS.B,

25.82%,

11/27/24

..

18,678

19,549

24350329.UG.FTS.B,

27.74%,

11/29/24

..

7,792

8,097

24595955.UG.FTS.B,

29.69%,

11/29/24

..

14,544

15,040

24938220.UG.FTS.B,

26.77%,

12/03/24

..

12,850

13,342

25206108.UG.FTS.B,

25.82%,

12/20/24

..

9,583

9,959

24763225.UG.FTS.B,

27.74%,

12/24/24

..

26,172

3,711

25561593.UG.FTS.B,

21.93%,

12/27/24

..

13,373

13,873

25318603.UG.FTS.B,

29.69%,

12/30/24

..

17,346

3,632

25558719.UG.FTS.B,

28.99%,

12/31/24

..

20,117

21,009

25820593.UG.FTS.B,

26.77%,

1/17/25

...

8,761

9,100

25702486.UG.FTS.B,

29.69%,

1/17/25

...

11,210

11,786

25774878.UG.FTS.B,

29.69%,

1/25/25

...

24,306

24,957

431,625

Upgrade,

Inc.

-

Card

991778146.UG.FTS.B,

18.71%,

2/10/24

..

284

69

991814355.UG.FTS.B,

28.48%,

2/10/24

..

366

364

991738972.UG.FTS.B,

29.48%,

2/10/24

..

1,692

123

991807257.UG.FTS.B,

29.49%,

2/10/24

..

60

9

991813036.UG.FTS.B,

29.49%,

2/10/24

..

957

971

991824612.UG.FTS.B,

29.49%,

2/10/24

..

6

6

991858193.UG.FTS.B,

29.49%,

2/10/24

..

231

228

991835672.UG.FTS.B,

Zero

Cpn,

2/11/24

.

891

–

991818747.UG.FTS.B,

22.47%,

2/11/24

..

18

18

991820873.UG.FTS.B,

29.48%,

2/11/24

..

213

217

991808167.UG.FTS.B,

29.49%,

2/11/24

..

147

149

991812184.UG.FTS.B,

29.49%,

2/11/24

..

56

56

991812643.UG.FTS.B,

29.49%,

2/11/24

..

121

122

991812846.UG.FTS.B,

29.49%,

2/11/24

..

58

58

991825236.UG.FTS.B,

29.49%,

2/11/24

..

210

15

991840198.UG.FTS.B,

29.49%,

2/11/24

..

179

178

991805066.UG.FTS.B,

19.3%,

2/12/24

...

230

233

991844159.UG.FTS.B,

19.99%,

2/12/24

..

40

40

991811276.UG.FTS.B,

21.48%,

2/12/24

..

325

329

991798559.UG.FTS.B,

22.47%,

2/12/24

..

185

186

991806903.UG.FTS.B,

23.45%,

2/12/24

..

103

104

991819802.UG.FTS.B,

26.44%,

2/12/24

..

71

71

991760854.UG.FTS.B,

28.48%,

2/12/24

..

173

175

991806030.UG.FTS.B,

28.48%,

2/12/24

..

264

265

991822643.UG.FTS.B,

28.48%,

2/12/24

..

13

13

991831361.UG.FTS.B,

28.48%,

2/12/24

..

185

186

991837602.UG.FTS.B,

28.48%,

2/12/24

..

44

45

991838221.UG.FTS.B,

28.48%,

2/12/24

..

171

23

991838743.UG.FTS.B,

28.48%,

2/12/24

..

67

67

991840432.UG.FTS.B,

28.48%,

2/12/24

..

145

147

991843407.UG.FTS.B,

28.48%,

2/12/24

..

284

289

991857933.UG.FTS.B,

28.48%,

2/12/24

..

494

497

991821298.UG.FTS.B,

29.48%,

2/12/24

..

85

85

991848000.UG.FTS.B,

29.48%,

2/12/24

..

115

117

991850943.UG.FTS.B,

29.48%,

2/12/24

..

78

78

991753219.UG.FTS.B,

29.49%,

2/12/24

..

9

9

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991802567.UG.FTS.B,

29.49%,

2/12/24

..

$

152

$

155

991803118.UG.FTS.B,

29.49%,

2/12/24

..

113

115

991803198.UG.FTS.B,

29.49%,

2/12/24

..

51

50

991803211.UG.FTS.B,

29.49%,

2/12/24

..

35

(1)

991803397.UG.FTS.B,

29.49%,

2/12/24

..

142

145

991805098.UG.FTS.B,

29.49%,

2/12/24

..

42

42

991805497.UG.FTS.B,

29.49%,

2/12/24

..

50

51

991806026.UG.FTS.B,

29.49%,

2/12/24

..

73

56

991806924.UG.FTS.B,

29.49%,

2/12/24

..

133

135

991807022.UG.FTS.B,

29.49%,

2/12/24

..

405

55

991807617.UG.FTS.B,

29.49%,

2/12/24

..

394

401

991808361.UG.FTS.B,

29.49%,

2/12/24

..

73

10

991808911.UG.FTS.B,

29.49%,

2/12/24

..

105

7

991809021.UG.FTS.B,

29.49%,

2/12/24

..

34

(1)

991810892.UG.FTS.B,

29.49%,

2/12/24

..

296

300

991813205.UG.FTS.B,

29.49%,

2/12/24

..

1,060

1,080

991814047.UG.FTS.B,

29.49%,

2/12/24

..

78

79

991815751.UG.FTS.B,

29.49%,

2/12/24

..

34

34

991818422.UG.FTS.B,

29.49%,

2/12/24

..

37

38

991819265.UG.FTS.B,

29.49%,

2/12/24

..

151

153

991819446.UG.FTS.B,

29.49%,

2/12/24

..

12

12

991821292.UG.FTS.B,

29.49%,

2/12/24

..

55

55

991822089.UG.FTS.B,

29.49%,

2/12/24

..

46

46

991823499.UG.FTS.B,

29.49%,

2/12/24

..

75

11

991823582.UG.FTS.B,

29.49%,

2/12/24

..

48

15

991824044.UG.FTS.B,

29.49%,

2/12/24

..

106

108

991826796.UG.FTS.B,

29.49%,

2/12/24

..

40

41

991826999.UG.FTS.B,

29.49%,

2/12/24

..

29

30

991827907.UG.FTS.B,

29.49%,

2/12/24

..

38

38

991829439.UG.FTS.B,

29.49%,

2/12/24

..

54

53

991831660.UG.FTS.B,

29.49%,

2/12/24

..

19

8

991833480.UG.FTS.B,

29.49%,

2/12/24

..

1,079

1,099

991835219.UG.FTS.B,

29.49%,

2/12/24

..

253

257

991838867.UG.FTS.B,

29.49%,

2/12/24

..

29

0

991840807.UG.FTS.B,

29.49%,

2/12/24

..

159

11

991843461.UG.FTS.B,

29.49%,

2/12/24

..

115

114

991843561.UG.FTS.B,

29.49%,

2/12/24

..

4

4

991845130.UG.FTS.B,

29.49%,

2/12/24

..

145

10

991847036.UG.FTS.B,

29.49%,

2/12/24

..

51

52

991849905.UG.FTS.B,

29.49%,

2/12/24

..

58

59

991850231.UG.FTS.B,

29.49%,

2/12/24

..

138

139

991851037.UG.FTS.B,

29.49%,

2/12/24

..

52

52

991851293.UG.FTS.B,

29.49%,

2/12/24

..

15

15

991852350.UG.FTS.B,

29.49%,

2/12/24

..

12

12

991853519.UG.FTS.B,

29.49%,

2/12/24

..

37

37

991855248.UG.FTS.B,

29.49%,

2/12/24

..

417

420

991855737.UG.FTS.B,

29.49%,

2/12/24

..

375

381

991855877.UG.FTS.B,

29.49%,

2/12/24

..

91

92

991856774.UG.FTS.B,

29.49%,

2/12/24

..

174

174

991843314.UG.FTS.B,

18.47%,

2/13/24

..

495

503

991762858.UG.FTS.B,

19.3%,

2/13/24

...

145

146

991818077.UG.FTS.B,

19.3%,

2/13/24

...

0

0

991825297.UG.FTS.B,

19.99%,

2/13/24

..

71

71

991802789.UG.FTS.B,

20.47%,

2/13/24

..

372

377

991823885.UG.FTS.B,

22.45%,

2/13/24

..

177

177

991825282.UG.FTS.B,

22.45%,

2/13/24

..

359

(5)

991762672.UG.FTS.B,

22.47%,

2/13/24

..

235

30

991812697.UG.FTS.B,

23.45%,

2/13/24

..

20

20

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

100

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991815851.UG.FTS.B,

23.45%,

2/13/24

..

$

70

$

71

991815791.UG.FTS.B,

25.45%,

2/13/24

..

299

302

991823139.UG.FTS.B,

26.44%,

2/13/24

..

256

259

991802844.UG.FTS.B,

28.48%,

2/13/24

..

281

287

991809335.UG.FTS.B,

28.48%,

2/13/24

..

36

36

991813666.UG.FTS.B,

28.48%,

2/13/24

..

100

102

991826346.UG.FTS.B,

28.48%,

2/13/24

..

50

51

991826678.UG.FTS.B,

28.48%,

2/13/24

..

85

87

991829933.UG.FTS.B,

28.48%,

2/13/24

..

70

71

991834075.UG.FTS.B,

28.48%,

2/13/24

..

424

432

991840249.UG.FTS.B,

28.48%,

2/13/24

..

81

82

991840302.UG.FTS.B,

28.48%,

2/13/24

..

72

74

991847628.UG.FTS.B,

28.48%,

2/13/24

..

71

72

991848142.UG.FTS.B,

28.48%,

2/13/24

..

199

202

991852216.UG.FTS.B,

28.48%,

2/13/24

..

60

61

991852594.UG.FTS.B,

28.48%,

2/13/24

..

55

55

991855956.UG.FTS.B,

28.48%,

2/13/24

..

16

16

991856699.UG.FTS.B,

28.48%,

2/13/24

..

148

150

991760964.UG.FTS.B,

29.48%,

2/13/24

..

66

67

991762577.UG.FTS.B,

29.48%,

2/13/24

..

90

91

991809378.UG.FTS.B,

29.48%,

2/13/24

..

88

89

991838693.UG.FTS.B,

29.48%,

2/13/24

..

52

8

991760977.UG.FTS.B,

29.49%,

2/13/24

..

22

22

991803712.UG.FTS.B,

29.49%,

2/13/24

..

118

119

991803760.UG.FTS.B,

29.49%,

2/13/24

..

134

136

991804158.UG.FTS.B,

29.49%,

2/13/24

..

17

17

991804307.UG.FTS.B,

29.49%,

2/13/24

..

158

44

991805669.UG.FTS.B,

29.49%,

2/13/24

..

116

116

991807465.UG.FTS.B,

29.49%,

2/13/24

..

318

316

991807692.UG.FTS.B,

29.49%,

2/13/24

..

109

8

991807707.UG.FTS.B,

29.49%,

2/13/24

..

144

146

991808245.UG.FTS.B,

29.49%,

2/13/24

..

286

291

991809162.UG.FTS.B,

29.49%,

2/13/24

..

241

245

991809256.UG.FTS.B,

29.49%,

2/13/24

..

128

9

991811083.UG.FTS.B,

29.49%,

2/13/24

..

100

99

991812699.UG.FTS.B,

29.49%,

2/13/24

..

158

160

991813185.UG.FTS.B,

29.49%,

2/13/24

..

11

11

991814132.UG.FTS.B,

29.49%,

2/13/24

..

23

23

991814627.UG.FTS.B,

29.49%,

2/13/24

..

887

900

991815439.UG.FTS.B,

29.49%,

2/13/24

..

97

98

991818894.UG.FTS.B,

29.49%,

2/13/24

..

162

164

991819096.UG.FTS.B,

29.49%,

2/13/24

..

52

8

991819845.UG.FTS.B,

29.49%,

2/13/24

..

20

20

991822750.UG.FTS.B,

29.49%,

2/13/24

..

93

24

991825123.UG.FTS.B,

29.49%,

2/13/24

..

80

81

991825647.UG.FTS.B,

29.49%,

2/13/24

..

70

71

991825820.UG.FTS.B,

29.49%,

2/13/24

..

33

13

991826041.UG.FTS.B,

29.49%,

2/13/24

..

303

302

991826145.UG.FTS.B,

29.49%,

2/13/24

..

108

110

991826851.UG.FTS.B,

29.49%,

2/13/24

..

100

101

991828989.UG.FTS.B,

29.49%,

2/13/24

..

590

601

991830056.UG.FTS.B,

29.49%,

2/13/24

..

99

99

991830221.UG.FTS.B,

29.49%,

2/13/24

..

38

38

991830326.UG.FTS.B,

29.49%,

2/13/24

..

17

17

991831802.UG.FTS.B,

29.49%,

2/13/24

..

452

31

991832221.UG.FTS.B,

29.49%,

2/13/24

..

242

242

991835549.UG.FTS.B,

29.49%,

2/13/24

..

54

55

991836340.UG.FTS.B,

29.49%,

2/13/24

..

97

(4)

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991837737.UG.FTS.B,

29.49%,

2/13/24

..

$

77

$

77

991838509.UG.FTS.B,

29.49%,

2/13/24

..

133

135

991838791.UG.FTS.B,

29.49%,

2/13/24

..

87

88

991840515.UG.FTS.B,

29.49%,

2/13/24

..

192

(8)

991842746.UG.FTS.B,

29.49%,

2/13/24

..

77

79

991843144.UG.FTS.B,

29.49%,

2/13/24

..

304

310

991843833.UG.FTS.B,

29.49%,

2/13/24

..

120

119

991846608.UG.FTS.B,

29.49%,

2/13/24

..

24

23

991850257.UG.FTS.B,

29.49%,

2/13/24

..

146

147

991853606.UG.FTS.B,

29.49%,

2/13/24

..

166

169

991854215.UG.FTS.B,

29.49%,

2/13/24

..

–

–

991854419.UG.FTS.B,

29.49%,

2/13/24

..

1,120

1,138

991854812.UG.FTS.B,

29.49%,

2/13/24

..

–

–

991857070.UG.FTS.B,

29.49%,

2/13/24

..

97

(4)

991791059.UG.FTS.B,

15.47%,

2/14/24

..

246

3

991825384.UG.FTS.B,

19.96%,

2/14/24

..

166

168

991787070.UG.FTS.B,

19.99%,

2/14/24

..

31

31

991835702.UG.FTS.B,

19.99%,

2/14/24

..

456

463

991840652.UG.FTS.B,

19.99%,

2/14/24

..

156

157

991822292.UG.FTS.B,

20.47%,

2/14/24

..

53

53

991833333.UG.FTS.B,

20.96%,

2/14/24

..

690

699

991826464.UG.FTS.B,

22.45%,

2/14/24

..

163

165

991806806.UG.FTS.B,

22.47%,

2/14/24

..

227

230

991846865.UG.FTS.B,

22.47%,

2/14/24

..

27

27

991851736.UG.FTS.B,

22.47%,

2/14/24

..

243

245

991805184.UG.FTS.B,

23.45%,

2/14/24

..

–

–

991820411.UG.FTS.B,

25.45%,

2/14/24

..

30

30

991804622.UG.FTS.B,

27.99%,

2/14/24

..

11

11

991800291.UG.FTS.B,

28.48%,

2/14/24

..

329

335

991811392.UG.FTS.B,

28.48%,

2/14/24

..

156

159

991812386.UG.FTS.B,

28.48%,

2/14/24

..

78

80

991818462.UG.FTS.B,

28.48%,

2/14/24

..

141

140

991831703.UG.FTS.B,

28.48%,

2/14/24

..

68

69

991835889.UG.FTS.B,

28.48%,

2/14/24

..

123

126

991844597.UG.FTS.B,

28.48%,

2/14/24

..

710

720

991847502.UG.FTS.B,

28.48%,

2/14/24

..

225

226

991814105.UG.FTS.B,

29.48%,

2/14/24

..

65

65

991820881.UG.FTS.B,

29.48%,

2/14/24

..

11

11

991821791.UG.FTS.B,

29.48%,

2/14/24

..

101

103

991842427.UG.FTS.B,

29.48%,

2/14/24

..

76

77

991854322.UG.FTS.B,

29.48%,

2/14/24

..

228

232

991857702.UG.FTS.B,

29.48%,

2/14/24

..

22

22

991777332.UG.FTS.B,

29.49%,

2/14/24

..

91

93

991787042.UG.FTS.B,

29.49%,

2/14/24

..

195

14

991789629.UG.FTS.B,

29.49%,

2/14/24

..

–

–

991790777.UG.FTS.B,

29.49%,

2/14/24

..

40

40

991794402.UG.FTS.B,

29.49%,

2/14/24

..

55

56

991802654.UG.FTS.B,

29.49%,

2/14/24

..

254

259

991804214.UG.FTS.B,

29.49%,

2/14/24

..

150

149

991804821.UG.FTS.B,

29.49%,

2/14/24

..

78

6

991805005.UG.FTS.B,

29.49%,

2/14/24

..

62

62

991805363.UG.FTS.B,

29.49%,

2/14/24

..

40

40

991805751.UG.FTS.B,

29.49%,

2/14/24

..

130

131

991806114.UG.FTS.B,

29.49%,

2/14/24

..

157

22

991807223.UG.FTS.B,

29.49%,

2/14/24

..

120

122

991807331.UG.FTS.B,

29.49%,

2/14/24

..

91

93

991808375.UG.FTS.B,

29.49%,

2/14/24

..

95

96

991809986.UG.FTS.B,

29.49%,

2/14/24

..

63

64

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

101

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991811416.UG.FTS.B,

29.49%,

2/14/24

..

$

169

$

172

991811465.UG.FTS.B,

29.49%,

2/14/24

..

–

–

991811679.UG.FTS.B,

29.49%,

2/14/24

..

52

52

991811829.UG.FTS.B,

29.49%,

2/14/24

..

27

27

991813801.UG.FTS.B,

29.49%,

2/14/24

..

68

69

991815383.UG.FTS.B,

29.49%,

2/14/24

..

25

25

991816178.UG.FTS.B,

29.49%,

2/14/24

..

416

424

991816764.UG.FTS.B,

29.49%,

2/14/24

..

75

59

991817391.UG.FTS.B,

29.49%,

2/14/24

..

80

82

991819107.UG.FTS.B,

29.49%,

2/14/24

..

114

113

991820078.UG.FTS.B,

29.49%,

2/14/24

..

81

83

991820161.UG.FTS.B,

29.49%,

2/14/24

..

19

19

991820652.UG.FTS.B,

29.49%,

2/14/24

..

73

73

991820788.UG.FTS.B,

29.49%,

2/14/24

..

86

87

991820879.UG.FTS.B,

29.49%,

2/14/24

..

32

32

991822902.UG.FTS.B,

29.49%,

2/14/24

..

247

18

991823498.UG.FTS.B,

29.49%,

2/14/24

..

111

113

991824942.UG.FTS.B,

29.49%,

2/14/24

..

55

56

991825619.UG.FTS.B,

29.49%,

2/14/24

..

288

284

991826591.UG.FTS.B,

29.49%,

2/14/24

..

203

205

991827030.UG.FTS.B,

29.49%,

2/14/24

..

92

94

991828159.UG.FTS.B,

29.49%,

2/14/24

..

173

176

991828399.UG.FTS.B,

29.49%,

2/14/24

..

64

63

991829905.UG.FTS.B,

29.49%,

2/14/24

..

62

63

991830143.UG.FTS.B,

29.49%,

2/14/24

..

65

(1)

991830933.UG.FTS.B,

29.49%,

2/14/24

..

30

30

991831471.UG.FTS.B,

29.49%,

2/14/24

..

0

0

991833347.UG.FTS.B,

29.49%,

2/14/24

..

31

31

991834800.UG.FTS.B,

29.49%,

2/14/24

..

69

5

991835428.UG.FTS.B,

29.49%,

2/14/24

..

81

81

991836005.UG.FTS.B,

29.49%,

2/14/24

..

33

33

991837093.UG.FTS.B,

29.49%,

2/14/24

..

96

98

991837221.UG.FTS.B,

29.49%,

2/14/24

..

1,653

(66)

991837235.UG.FTS.B,

29.49%,

2/14/24

..

18

18

991839021.UG.FTS.B,

29.49%,

2/14/24

..

213

216

991841194.UG.FTS.B,

29.49%,

2/14/24

..

27

27

991843509.UG.FTS.B,

29.49%,

2/14/24

..

99

100

991846543.UG.FTS.B,

29.49%,

2/14/24

..

14

14

991848269.UG.FTS.B,

29.49%,

2/14/24

..

73

74

991848382.UG.FTS.B,

29.49%,

2/14/24

..

98

(5)

991850827.UG.FTS.B,

29.49%,

2/14/24

..

551

557

991851816.UG.FTS.B,

29.49%,

2/14/24

..

234

232

991852711.UG.FTS.B,

29.49%,

2/14/24

..

31

31

991853091.UG.FTS.B,

29.49%,

2/14/24

..

32

32

991855151.UG.FTS.B,

29.49%,

2/14/24

..

67

(3)

991857188.UG.FTS.B,

29.49%,

2/14/24

..

651

662

991857248.UG.FTS.B,

29.49%,

2/14/24

..

51

52

991857536.UG.FTS.B,

29.49%,

2/14/24

..

104

14

991857920.UG.FTS.B,

29.49%,

2/14/24

..

280

280

991857984.UG.FTS.B,

29.49%,

2/14/24

..

100

102

991841512.UG.FTS.B,

16.49%,

2/15/24

..

58

59

991853079.UG.FTS.B,

18.47%,

2/15/24

..

518

526

991803737.UG.FTS.B,

18.71%,

2/15/24

..

80

82

991845447.UG.FTS.B,

19.3%,

2/15/24

...

372

378

991857528.UG.FTS.B,

19.3%,

2/15/24

...

73

74

991843097.UG.FTS.B,

20.47%,

2/15/24

..

153

154

991805838.UG.FTS.B,

21.47%,

2/15/24

..

202

204

991815047.UG.FTS.B,

21.47%,

2/15/24

..

38

38

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991850875.UG.FTS.B,

23.45%,

2/15/24

..

$

813

$

815

991786897.UG.FTS.B,

28.48%,

2/15/24

..

9

9

991809041.UG.FTS.B,

28.48%,

2/15/24

..

102

104

991811127.UG.FTS.B,

28.48%,

2/15/24

..

2,106

2,131

991812203.UG.FTS.B,

28.48%,

2/15/24

..

1,040

1,058

991815578.UG.FTS.B,

28.48%,

2/15/24

..

149

149

991822964.UG.FTS.B,

28.48%,

2/15/24

..

129

132

991827844.UG.FTS.B,

28.48%,

2/15/24

..

43

43

991828144.UG.FTS.B,

28.48%,

2/15/24

..

40

(1)

991828775.UG.FTS.B,

28.48%,

2/15/24

..

5

5

991845273.UG.FTS.B,

28.48%,

2/15/24

..

421

430

991814618.UG.FTS.B,

29.48%,

2/15/24

..

86

66

991819327.UG.FTS.B,

29.48%,

2/15/24

..

73

75

991819564.UG.FTS.B,

29.48%,

2/15/24

..

37

37

991825801.UG.FTS.B,

29.48%,

2/15/24

..

75

75

991830580.UG.FTS.B,

29.48%,

2/15/24

..

62

63

991761764.UG.FTS.B,

29.49%,

2/15/24

..

213

33

991777925.UG.FTS.B,

29.49%,

2/15/24

..

94

96

991778482.UG.FTS.B,

29.49%,

2/15/24

..

20

20

991780114.UG.FTS.B,

29.49%,

2/15/24

..

179

179

991790636.UG.FTS.B,

29.49%,

2/15/24

..

53

4

991794354.UG.FTS.B,

29.49%,

2/15/24

..

8

8

991803142.UG.FTS.B,

29.49%,

2/15/24

..

30

30

991803554.UG.FTS.B,

29.49%,

2/15/24

..

32

32

991803930.UG.FTS.B,

29.49%,

2/15/24

..

19

18

991808637.UG.FTS.B,

29.49%,

2/15/24

..

27

27

991808787.UG.FTS.B,

29.49%,

2/15/24

..

14

14

991808840.UG.FTS.B,

29.49%,

2/15/24

..

139

138

991812178.UG.FTS.B,

29.49%,

2/15/24

..

11

11

991812295.UG.FTS.B,

29.49%,

2/15/24

..

168

171

991812557.UG.FTS.B,

29.49%,

2/15/24

..

223

221

991813506.UG.FTS.B,

29.49%,

2/15/24

..

110

112

991814696.UG.FTS.B,

29.49%,

2/15/24

..

226

229

991815677.UG.FTS.B,

29.49%,

2/15/24

..

47

47

991816058.UG.FTS.B,

29.49%,

2/15/24

..

19

20

991816140.UG.FTS.B,

29.49%,

2/15/24

..

453

460

991817153.UG.FTS.B,

29.49%,

2/15/24

..

66

66

991817664.UG.FTS.B,

29.49%,

2/15/24

..

178

180

991818151.UG.FTS.B,

29.49%,

2/15/24

..

63

63

991823857.UG.FTS.B,

29.49%,

2/15/24

..

41

3

991824199.UG.FTS.B,

29.49%,

2/15/24

..

179

182

991825172.UG.FTS.B,

29.49%,

2/15/24

..

263

20

991825377.UG.FTS.B,

29.49%,

2/15/24

..

68

69

991826086.UG.FTS.B,

29.49%,

2/15/24

..

202

14

991828490.UG.FTS.B,

29.49%,

2/15/24

..

205

207

991831448.UG.FTS.B,

29.49%,

2/15/24

..

166

170

991834770.UG.FTS.B,

29.49%,

2/15/24

..

65

66

991835256.UG.FTS.B,

29.49%,

2/15/24

..

9

9

991835844.UG.FTS.B,

29.49%,

2/15/24

..

106

107

991839346.UG.FTS.B,

29.49%,

2/15/24

..

8

8

991839921.UG.FTS.B,

29.49%,

2/15/24

..

181

185

991841269.UG.FTS.B,

29.49%,

2/15/24

..

153

153

991842522.UG.FTS.B,

29.49%,

2/15/24

..

532

542

991842689.UG.FTS.B,

29.49%,

2/15/24

..

173

175

991842862.UG.FTS.B,

29.49%,

2/15/24

..

104

8

991844063.UG.FTS.B,

29.49%,

2/15/24

..

873

887

991845358.UG.FTS.B,

29.49%,

2/15/24

..

1,000

71

991846472.UG.FTS.B,

29.49%,

2/15/24

..

15

15

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

102

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991846935.UG.FTS.B,

29.49%,

2/15/24

..

$

628

$

638

991847259.UG.FTS.B,

29.49%,

2/15/24

..

16

16

991848017.UG.FTS.B,

29.49%,

2/15/24

..

63

64

991848451.UG.FTS.B,

29.49%,

2/15/24

..

146

147

991849026.UG.FTS.B,

29.49%,

2/15/24

..

37

6

991854338.UG.FTS.B,

29.49%,

2/15/24

..

52

51

991855065.UG.FTS.B,

29.49%,

2/15/24

..

42

42

991856146.UG.FTS.B,

29.49%,

2/15/24

..

13

13

991857458.UG.FTS.B,

29.49%,

2/15/24

..

165

167

991905821.UG.FTS.B,

15%,

2/16/24

.....

24

25

991974180.UG.FTS.B,

15.47%,

2/16/24

..

48

49

991788778.UG.FTS.B,

16.49%,

2/16/24

..

36

36

991823874.UG.FTS.B,

17.47%,

2/16/24

..

428

436

991849830.UG.FTS.B,

17.49%,

2/16/24

..

558

568

991951173.UG.FTS.B,

17.49%,

2/16/24

..

20

20

991943688.UG.FTS.B,

29.49%,

2/16/24

..

477

485

991989114.UG.FTS.B,

29.49%,

2/16/24

..

29

29

991804538.UG.FTS.B,

25.45%,

2/17/24

..

97

98

991808019.UG.FTS.B,

28.48%,

2/17/24

..

39

6

991920721.UG.FTS.B,

28.48%,

2/17/24

..

144

147

992003978.UG.FTS.B,

28.48%,

2/17/24

..

19

19

991872807.UG.FTS.B,

29.48%,

2/17/24

..

25

26

991823101.UG.FTS.B,

29.49%,

2/17/24

..

84

86

991827738.UG.FTS.B,

29.49%,

2/17/24

..

54

55

991847729.UG.FTS.B,

29.49%,

2/17/24

..

146

148

991849598.UG.FTS.B,

29.49%,

2/17/24

..

105

105

991872409.UG.FTS.B,

29.49%,

2/17/24

..

71

10

991997607.UG.FTS.B,

29.49%,

2/17/24

..

233

234

991342732.UG.FTS.B,

29.49%,

12/23/24

.

306

304

991715757.UG.FTS.B,

15.97%,

2/08/25

..

592

605

991740852.UG.FTS.B,

15.97%,

2/08/25

..

181

183

991724808.UG.FTS.B,

17.99%,

2/08/25

..

758

774

991735248.UG.FTS.B,

17.99%,

2/08/25

..

4,632

4,652

991808949.UG.FTS.B,

17.99%,

2/08/25

..

53

53

991757234.UG.FTS.B,

17.99%,

2/09/25

..

423

432

991732442.UG.FTS.B,

14.98%,

2/10/25

..

842

861

991733275.UG.FTS.B,

14.98%,

2/10/25

..

325

332

991849542.UG.FTS.B,

14.98%,

2/10/25

..

42

42

991937376.UG.FTS.B,

14.98%,

2/10/25

..

752

764

991732663.UG.FTS.B,

15%,

2/10/25

.....

176

178

991742845.UG.FTS.B,

15.97%,

2/10/25

..

65

66

991776139.UG.FTS.B,

15.97%,

2/10/25

..

1,119

1,145

991839233.UG.FTS.B,

15.97%,

2/10/25

..

135

138

991883759.UG.FTS.B,

15.97%,

2/10/25

..

1,542

1,568

991922584.UG.FTS.B,

15.97%,

2/10/25

..

51

52

991804545.UG.FTS.B,

15.99%,

2/10/25

..

22

22

991805546.UG.FTS.B,

15.99%,

2/10/25

..

23

23

991731892.UG.FTS.B,

16.99%,

2/10/25

..

290

297

991734362.UG.FTS.B,

16.99%,

2/10/25

..

1,163

1,189

991734486.UG.FTS.B,

16.99%,

2/10/25

..

75

76

991758232.UG.FTS.B,

16.99%,

2/10/25

..

352

360

991767800.UG.FTS.B,

16.99%,

2/10/25

..

2,597

2,636

991771576.UG.FTS.B,

16.99%,

2/10/25

..

895

916

991777284.UG.FTS.B,

16.99%,

2/10/25

..

180

13

991799804.UG.FTS.B,

16.99%,

2/10/25

..

236

242

991940443.UG.FTS.B,

16.99%,

2/10/25

..

3,763

3,824

991734925.UG.FTS.B,

17.99%,

2/10/25

..

190

194

991767919.UG.FTS.B,

17.99%,

2/10/25

..

1,111

1,128

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991802234.UG.FTS.B,

17.99%,

2/10/25

..

$

4,480

$

4,578

991910229.UG.FTS.B,

17.99%,

2/10/25

..

523

534

991963090.UG.FTS.B,

17.99%,

2/10/25

..

1,516

1,537

991820429.UG.FTS.B,

19.21%,

2/10/25

..

92

91

991739129.UG.FTS.B,

19.99%,

2/10/25

..

53

54

991960619.UG.FTS.B,

21.98%,

2/10/25

..

40

40

991812202.UG.FTS.B,

27.99%,

2/10/25

..

145

148

991761364.UG.FTS.B,

28.98%,

2/10/25

..

334

343

991812249.UG.FTS.B,

28.98%,

2/10/25

..

610

604

991822498.UG.FTS.B,

28.98%,

2/10/25

..

133

133

991827179.UG.FTS.B,

28.98%,

2/10/25

..

271

276

991840626.UG.FTS.B,

28.98%,

2/10/25

..

33

34

991854247.UG.FTS.B,

28.98%,

2/10/25

..

385

392

991736378.UG.FTS.B,

29.49%,

2/10/25

..

3,168

3,119

991736951.UG.FTS.B,

29.49%,

2/10/25

..

454

466

991821789.UG.FTS.B,

29.49%,

2/10/25

..

263

270

991847511.UG.FTS.B,

29.49%,

2/10/25

..

180

185

991753557.UG.FTS.B,

15.97%,

2/11/25

..

390

399

991985550.UG.FTS.B,

15.97%,

2/11/25

..

7,081

7,202

991740362.UG.FTS.B,

16.99%,

2/11/25

..

1,341

1,371

991747996.UG.FTS.B,

16.99%,

2/11/25

..

719

735

991755840.UG.FTS.B,

16.99%,

2/11/25

..

647

661

991754217.UG.FTS.B,

17.99%,

2/11/25

..

359

364

991810427.UG.FTS.B,

18.97%,

2/11/25

..

170

170

991804685.UG.FTS.B,

19.8%,

2/11/25

...

41

21

991826671.UG.FTS.B,

19.8%,

2/11/25

...

636

638

991984402.UG.FTS.B,

20.97%,

2/11/25

..

486

36

991988947.UG.FTS.B,

22.97%,

2/11/25

..

19

19

991804629.UG.FTS.B,

27.99%,

2/11/25

..

314

(11)

991778952.UG.FTS.B,

28.98%,

2/11/25

..

1,329

1,345

991803773.UG.FTS.B,

28.98%,

2/11/25

..

22

22

991842252.UG.FTS.B,

28.98%,

2/11/25

..

301

298

991851331.UG.FTS.B,

28.98%,

2/11/25

..

2,419

2,449

991857312.UG.FTS.B,

28.98%,

2/11/25

..

306

314

991745632.UG.FTS.B,

29.49%,

2/11/25

..

126

127

991804723.UG.FTS.B,

29.49%,

2/11/25

..

139

140

991809359.UG.FTS.B,

29.49%,

2/11/25

..

319

70

991809668.UG.FTS.B,

29.49%,

2/11/25

..

398

409

991812244.UG.FTS.B,

29.49%,

2/11/25

..

125

128

991815191.UG.FTS.B,

29.49%,

2/11/25

..

138

138

991815738.UG.FTS.B,

29.49%,

2/11/25

..

117

118

991819207.UG.FTS.B,

29.49%,

2/11/25

..

56

8

991829840.UG.FTS.B,

29.49%,

2/11/25

..

347

350

991849206.UG.FTS.B,

29.49%,

2/11/25

..

18

18

991810022.UG.FTS.B,

14%,

2/12/25

.....

2,134

2,178

991758225.UG.FTS.B,

14.98%,

2/12/25

..

88

90

991769361.UG.FTS.B,

14.98%,

2/12/25

..

1,549

1,572

991750957.UG.FTS.B,

15%,

2/12/25

.....

160

161

991772549.UG.FTS.B,

15%,

2/12/25

.....

892

912

991882495.UG.FTS.B,

15%,

2/12/25

.....

3

3

991915264.UG.FTS.B,

15%,

2/12/25

.....

2,797

2,859

991777650.UG.FTS.B,

15.97%,

2/12/25

..

90

92

991781572.UG.FTS.B,

15.97%,

2/12/25

..

3,473

3,553

991791249.UG.FTS.B,

15.97%,

2/12/25

..

31

32

991797856.UG.FTS.B,

15.97%,

2/12/25

..

207

208

991807762.UG.FTS.B,

15.97%,

2/12/25

..

1

1

991898060.UG.FTS.B,

15.97%,

2/12/25

..

369

375

991998965.UG.FTS.B,

15.97%,

2/12/25

..

230

233

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

103

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991750465.UG.FTS.B,

16.99%,

2/12/25

..

$

1,432

$

1,464

991758319.UG.FTS.B,

16.99%,

2/12/25

..

1,520

1,554

991776181.UG.FTS.B,

16.99%,

2/12/25

..

330

208

991787448.UG.FTS.B,

16.99%,

2/12/25

..

15

15

991769114.UG.FTS.B,

17.99%,

2/12/25

..

590

603

991807436.UG.FTS.B,

17.99%,

2/12/25

..

353

361

991825968.UG.FTS.B,

17.99%,

2/12/25

..

82

82

991842570.UG.FTS.B,

17.99%,

2/12/25

..

284

290

991884753.UG.FTS.B,

17.99%,

2/12/25

..

66

67

991929045.UG.FTS.B,

17.99%,

2/12/25

..

4,456

4,552

991941107.UG.FTS.B,

17.99%,

2/12/25

..

1,592

1,617

991815408.UG.FTS.B,

18.97%,

2/12/25

..

50

50

991827757.UG.FTS.B,

18.97%,

2/12/25

..

198

202

991830452.UG.FTS.B,

18.97%,

2/12/25

..

16

15

991872148.UG.FTS.B,

18.97%,

2/12/25

..

4,476

4,569

991926314.UG.FTS.B,

18.97%,

2/12/25

..

1,136

1,153

991802561.UG.FTS.B,

19.21%,

2/12/25

..

563

564

991816619.UG.FTS.B,

19.21%,

2/12/25

..

805

821

991839209.UG.FTS.B,

19.21%,

2/12/25

..

133

133

991864191.UG.FTS.B,

19.21%,

2/12/25

..

1,343

1,370

991965441.UG.FTS.B,

19.21%,

2/12/25

..

979

(1)

991998144.UG.FTS.B,

19.21%,

2/12/25

..

12

12

991840163.UG.FTS.B,

19.8%,

2/12/25

...

702

715

991848768.UG.FTS.B,

19.8%,

2/12/25

...

826

836

991760875.UG.FTS.B,

19.99%,

2/12/25

..

169

174

991786840.UG.FTS.B,

19.99%,

2/12/25

..

289

297

991799677.UG.FTS.B,

19.99%,

2/12/25

..

886

895

991805953.UG.FTS.B,

19.99%,

2/12/25

..

84

86

991806201.UG.FTS.B,

19.99%,

2/12/25

..

113

115

991813804.UG.FTS.B,

19.99%,

2/12/25

..

203

2

991816211.UG.FTS.B,

19.99%,

2/12/25

..

158

162

991818449.UG.FTS.B,

19.99%,

2/12/25

..

49

42

991826760.UG.FTS.B,

19.99%,

2/12/25

..

282

289

991832331.UG.FTS.B,

19.99%,

2/12/25

..

56

47

991838152.UG.FTS.B,

19.99%,

2/12/25

..

47

47

991839865.UG.FTS.B,

19.99%,

2/12/25

..

69

70

991752839.UG.FTS.B,

20.46%,

2/12/25

..

3,734

3,801

991785806.UG.FTS.B,

20.46%,

2/12/25

..

239

244

991805048.UG.FTS.B,

20.46%,

2/12/25

..

29

30

991852722.UG.FTS.B,

20.46%,

2/12/25

..

694

707

992003412.UG.FTS.B,

20.46%,

2/12/25

..

267

270

991871804.UG.FTS.B,

20.97%,

2/12/25

..

445

452

991883284.UG.FTS.B,

20.97%,

2/12/25

..

1,230

1,249

991957028.UG.FTS.B,

20.97%,

2/12/25

..

147

148

991974835.UG.FTS.B,

20.97%,

2/12/25

..

1,336

1,349

991802583.UG.FTS.B,

21.46%,

2/12/25

..

448

449

991806756.UG.FTS.B,

21.46%,

2/12/25

..

104

106

991821039.UG.FTS.B,

21.46%,

2/12/25

..

354

25

991830417.UG.FTS.B,

21.46%,

2/12/25

..

4,007

4,043

991893405.UG.FTS.B,

21.46%,

2/12/25

..

2,017

2,047

991802607.UG.FTS.B,

21.98%,

2/12/25

..

2,261

2,295

991806219.UG.FTS.B,

21.98%,

2/12/25

..

35

35

991807134.UG.FTS.B,

21.98%,

2/12/25

..

185

188

991821559.UG.FTS.B,

21.98%,

2/12/25

..

669

690

991863804.UG.FTS.B,

21.98%,

2/12/25

..

1,261

1,280

991833350.UG.FTS.B,

22.97%,

2/12/25

..

1,712

1,736

991856327.UG.FTS.B,

22.97%,

2/12/25

..

173

175

991878878.UG.FTS.B,

22.97%,

2/12/25

..

45

45

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991820674.UG.FTS.B,

23.95%,

2/12/25

..

$

226

$

229

991830912.UG.FTS.B,

23.95%,

2/12/25

..

16

16

991852900.UG.FTS.B,

23.95%,

2/12/25

..

26

26

991858756.UG.FTS.B,

23.95%,

2/12/25

..

545

543

991914843.UG.FTS.B,

23.95%,

2/12/25

..

108

110

991922196.UG.FTS.B,

23.95%,

2/12/25

..

351

350

991849884.UG.FTS.B,

27.99%,

2/12/25

..

824

842

991753187.UG.FTS.B,

28.98%,

2/12/25

..

276

284

991762382.UG.FTS.B,

28.98%,

2/12/25

..

1

1

991782001.UG.FTS.B,

28.98%,

2/12/25

..

483

478

991786749.UG.FTS.B,

28.98%,

2/12/25

..

599

600

991801416.UG.FTS.B,

28.98%,

2/12/25

..

642

660

991803393.UG.FTS.B,

28.98%,

2/12/25

..

725

745

991803553.UG.FTS.B,

28.98%,

2/12/25

..

550

559

991804033.UG.FTS.B,

28.98%,

2/12/25

..

2,436

308

991804110.UG.FTS.B,

28.98%,

2/12/25

..

157

161

991805409.UG.FTS.B,

28.98%,

2/12/25

..

20

20

991806309.UG.FTS.B,

28.98%,

2/12/25

..

179

184

991807481.UG.FTS.B,

28.98%,

2/12/25

..

1,690

115

991807845.UG.FTS.B,

28.98%,

2/12/25

..

35

36

991808479.UG.FTS.B,

28.98%,

2/12/25

..

14

14

991808773.UG.FTS.B,

28.98%,

2/12/25

..

169

173

991809238.UG.FTS.B,

28.98%,

2/12/25

..

257

258

991810584.UG.FTS.B,

28.98%,

2/12/25

..

914

940

991811876.UG.FTS.B,

28.98%,

2/12/25

..

284

190

991812552.UG.FTS.B,

28.98%,

2/12/25

..

96

99

991815227.UG.FTS.B,

28.98%,

2/12/25

..

180

185

991817723.UG.FTS.B,

28.98%,

2/12/25

..

137

141

991817728.UG.FTS.B,

28.98%,

2/12/25

..

215

220

991818557.UG.FTS.B,

28.98%,

2/12/25

..

140

142

991819916.UG.FTS.B,

28.98%,

2/12/25

..

207

205

991820157.UG.FTS.B,

28.98%,

2/12/25

..

241

17

991820783.UG.FTS.B,

28.98%,

2/12/25

..

61

62

991822370.UG.FTS.B,

28.98%,

2/12/25

..

390

385

991822565.UG.FTS.B,

28.98%,

2/12/25

..

–

–

991822751.UG.FTS.B,

28.98%,

2/12/25

..

112

14

991823210.UG.FTS.B,

28.98%,

2/12/25

..

168

37

991823235.UG.FTS.B,

28.98%,

2/12/25

..

32

32

991823389.UG.FTS.B,

28.98%,

2/12/25

..

320

329

991823723.UG.FTS.B,

28.98%,

2/12/25

..

201

200

991825542.UG.FTS.B,

28.98%,

2/12/25

..

27

27

991829022.UG.FTS.B,

28.98%,

2/12/25

..

140

140

991830871.UG.FTS.B,

28.98%,

2/12/25

..

349

358

991831543.UG.FTS.B,

28.98%,

2/12/25

..

31

32

991832534.UG.FTS.B,

28.98%,

2/12/25

..

1,599

1,644

991832753.UG.FTS.B,

28.98%,

2/12/25

..

465

472

991834462.UG.FTS.B,

28.98%,

2/12/25

..

1,508

1,493

991836774.UG.FTS.B,

28.98%,

2/12/25

..

52

53

991836990.UG.FTS.B,

28.98%,

2/12/25

..

138

136

991837107.UG.FTS.B,

28.98%,

2/12/25

..

88

90

991838664.UG.FTS.B,

28.98%,

2/12/25

..

1,718

371

991838703.UG.FTS.B,

28.98%,

2/12/25

..

122

125

991839992.UG.FTS.B,

28.98%,

2/12/25

..

67

68

991841608.UG.FTS.B,

28.98%,

2/12/25

..

309

318

991843868.UG.FTS.B,

28.98%,

2/12/25

..

273

281

991844596.UG.FTS.B,

28.98%,

2/12/25

..

690

706

991847833.UG.FTS.B,

28.98%,

2/12/25

..

230

231

991849677.UG.FTS.B,

28.98%,

2/12/25

..

438

95

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

104

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991849987.UG.FTS.B,

28.98%,

2/12/25

..

$

319

$

328

991856834.UG.FTS.B,

28.98%,

2/12/25

..

171

169

991858327.UG.FTS.B,

28.98%,

2/12/25

..

1,023

67

991807146.UG.FTS.B,

29.46%,

2/12/25

..

366

375

991753952.UG.FTS.B,

29.49%,

2/12/25

..

595

611

991756767.UG.FTS.B,

29.49%,

2/12/25

..

797

789

991762228.UG.FTS.B,

29.49%,

2/12/25

..

141

145

991762343.UG.FTS.B,

29.49%,

2/12/25

..

8

8

991777163.UG.FTS.B,

29.49%,

2/12/25

..

75

77

991785647.UG.FTS.B,

29.49%,

2/12/25

..

177

181

991790482.UG.FTS.B,

29.49%,

2/12/25

..

230

235

991798251.UG.FTS.B,

29.49%,

2/12/25

..

193

198

991802896.UG.FTS.B,

29.49%,

2/12/25

..

81

20

991803191.UG.FTS.B,

29.49%,

2/12/25

..

305

310

991803804.UG.FTS.B,

29.49%,

2/12/25

..

72

73

991803931.UG.FTS.B,

29.49%,

2/12/25

..

57

57

991804775.UG.FTS.B,

29.49%,

2/12/25

..

584

599

991805297.UG.FTS.B,

29.49%,

2/12/25

..

202

137

991805383.UG.FTS.B,

29.49%,

2/12/25

..

2,057

2,100

991805631.UG.FTS.B,

29.49%,

2/12/25

..

141

145

991806843.UG.FTS.B,

29.49%,

2/12/25

..

78

80

991806948.UG.FTS.B,

29.49%,

2/12/25

..

167

171

991807096.UG.FTS.B,

29.49%,

2/12/25

..

238

236

991807534.UG.FTS.B,

29.49%,

2/12/25

..

97

99

991807545.UG.FTS.B,

29.49%,

2/12/25

..

23

23

991807577.UG.FTS.B,

29.49%,

2/12/25

..

1,238

1,252

991807803.UG.FTS.B,

29.49%,

2/12/25

..

323

325

991807941.UG.FTS.B,

29.49%,

2/12/25

..

28

28

991809346.UG.FTS.B,

29.49%,

2/12/25

..

271

279

991809685.UG.FTS.B,

29.49%,

2/12/25

..

1,067

1,094

991809887.UG.FTS.B,

29.49%,

2/12/25

..

212

218

991811105.UG.FTS.B,

29.49%,

2/12/25

..

88

88

991813309.UG.FTS.B,

29.49%,

2/12/25

..

185

24

991814010.UG.FTS.B,

29.49%,

2/12/25

..

74

75

991814338.UG.FTS.B,

29.49%,

2/12/25

..

51

51

991814464.UG.FTS.B,

29.49%,

2/12/25

..

62

63

991815155.UG.FTS.B,

29.49%,

2/12/25

..

102

104

991815654.UG.FTS.B,

29.49%,

2/12/25

..

659

677

991816204.UG.FTS.B,

29.49%,

2/12/25

..

23

23

991816759.UG.FTS.B,

29.49%,

2/12/25

..

664

84

991817440.UG.FTS.B,

29.49%,

2/12/25

..

125

9

991819353.UG.FTS.B,

29.49%,

2/12/25

..

34

35

991819588.UG.FTS.B,

29.49%,

2/12/25

..

876

880

991821190.UG.FTS.B,

29.49%,

2/12/25

..

194

14

991821193.UG.FTS.B,

29.49%,

2/12/25

..

199

204

991821588.UG.FTS.B,

29.49%,

2/12/25

..

336

334

991822726.UG.FTS.B,

29.49%,

2/12/25

..

15

15

991823152.UG.FTS.B,

29.49%,

2/12/25

..

75

5

991823892.UG.FTS.B,

29.49%,

2/12/25

..

144

148

991825037.UG.FTS.B,

29.49%,

2/12/25

..

89

91

991826473.UG.FTS.B,

29.49%,

2/12/25

..

113

113

991826837.UG.FTS.B,

29.49%,

2/12/25

..

501

511

991827604.UG.FTS.B,

29.49%,

2/12/25

..

22

22

991828550.UG.FTS.B,

29.49%,

2/12/25

..

530

533

991828740.UG.FTS.B,

29.49%,

2/12/25

..

311

69

991828889.UG.FTS.B,

29.49%,

2/12/25

..

1,383

1,418

991829556.UG.FTS.B,

29.49%,

2/12/25

..

76

19

991829731.UG.FTS.B,

29.49%,

2/12/25

..

93

(4)

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991830378.UG.FTS.B,

29.49%,

2/12/25

..

$

96

$

98

991830633.UG.FTS.B,

29.49%,

2/12/25

..

11

11

991831758.UG.FTS.B,

29.49%,

2/12/25

..

239

16

991832251.UG.FTS.B,

29.49%,

2/12/25

..

18

18

991833915.UG.FTS.B,

29.49%,

2/12/25

..

103

106

991834980.UG.FTS.B,

29.49%,

2/12/25

..

110

113

991836274.UG.FTS.B,

29.49%,

2/12/25

..

457

469

991836539.UG.FTS.B,

29.49%,

2/12/25

..

466

102

991837472.UG.FTS.B,

29.49%,

2/12/25

..

167

171

991837897.UG.FTS.B,

29.49%,

2/12/25

..

186

(10)

991839406.UG.FTS.B,

29.49%,

2/12/25

..

90

89

991839765.UG.FTS.B,

29.49%,

2/12/25

..

425

420

991839854.UG.FTS.B,

29.49%,

2/12/25

..

49

49

991841177.UG.FTS.B,

29.49%,

2/12/25

..

451

455

991841854.UG.FTS.B,

29.49%,

2/12/25

..

62

(2)

991842663.UG.FTS.B,

29.49%,

2/12/25

..

37

38

991843673.UG.FTS.B,

29.49%,

2/12/25

..

2,145

472

991846043.UG.FTS.B,

29.49%,

2/12/25

..

130

133

991847529.UG.FTS.B,

29.49%,

2/12/25

..

61

62

991847747.UG.FTS.B,

29.49%,

2/12/25

..

89

88

991847843.UG.FTS.B,

29.49%,

2/12/25

..

11

11

991849938.UG.FTS.B,

29.49%,

2/12/25

..

140

142

991850187.UG.FTS.B,

29.49%,

2/12/25

..

76

77

991850254.UG.FTS.B,

29.49%,

2/12/25

..

166

171

991850275.UG.FTS.B,

29.49%,

2/12/25

..

278

286

991853347.UG.FTS.B,

29.49%,

2/12/25

..

2,935

3,015

991853525.UG.FTS.B,

29.49%,

2/12/25

..

1,370

1,407

991854668.UG.FTS.B,

29.49%,

2/12/25

..

2,282

2,344

991855183.UG.FTS.B,

29.49%,

2/12/25

..

454

103

991855573.UG.FTS.B,

29.49%,

2/12/25

..

37

37

991857944.UG.FTS.B,

29.49%,

2/12/25

..

18

18

991858114.UG.FTS.B,

29.49%,

2/12/25

..

439

31

991770961.UG.FTS.B,

14.97%,

2/13/25

..

51

51

991759353.UG.FTS.B,

14.98%,

2/13/25

..

131

134

991765981.UG.FTS.B,

14.98%,

2/13/25

..

482

492

991834929.UG.FTS.B,

14.98%,

2/13/25

..

445

455

991885386.UG.FTS.B,

14.98%,

2/13/25

..

48

49

991758896.UG.FTS.B,

15%,

2/13/25

.....

937

946

991761161.UG.FTS.B,

15%,

2/13/25

.....

589

602

991837288.UG.FTS.B,

15%,

2/13/25

.....

106

108

991838768.UG.FTS.B,

15%,

2/13/25

.....

472

476

991897034.UG.FTS.B,

15%,

2/13/25

.....

86

87

991951153.UG.FTS.B,

15%,

2/13/25

.....

230

234

991761973.UG.FTS.B,

15.97%,

2/13/25

..

227

232

991788289.UG.FTS.B,

15.97%,

2/13/25

..

286

293

991900934.UG.FTS.B,

15.97%,

2/13/25

..

271

275

991995168.UG.FTS.B,

15.97%,

2/13/25

..

133

135

991763663.UG.FTS.B,

16.99%,

2/13/25

..

423

78

991765878.UG.FTS.B,

16.99%,

2/13/25

..

110

113

991772971.UG.FTS.B,

16.99%,

2/13/25

..

1,772

1,793

991789526.UG.FTS.B,

16.99%,

2/13/25

..

811

829

991824556.UG.FTS.B,

16.99%,

2/13/25

..

20

19

991851687.UG.FTS.B,

16.99%,

2/13/25

..

109

111

991863444.UG.FTS.B,

16.99%,

2/13/25

..

442

449

991863850.UG.FTS.B,

16.99%,

2/13/25

..

483

300

991898765.UG.FTS.B,

16.99%,

2/13/25

..

5,346

5,466

991917280.UG.FTS.B,

16.99%,

2/13/25

..

1,780

1,820

991944781.UG.FTS.B,

16.99%,

2/13/25

..

185

189

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

105

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991964092.UG.FTS.B,

16.99%,

2/13/25

..

$

1,646

$

1,670

991984180.UG.FTS.B,

16.99%,

2/13/25

..

261

265

991991790.UG.FTS.B,

16.99%,

2/13/25

..

91

93

991984961.UG.FTS.B,

17.97%,

2/13/25

..

232

27

991764232.UG.FTS.B,

17.99%,

2/13/25

..

153

156

991764725.UG.FTS.B,

17.99%,

2/13/25

..

226

4

991765109.UG.FTS.B,

17.99%,

2/13/25

..

95

97

991770734.UG.FTS.B,

17.99%,

2/13/25

..

232

237

991790361.UG.FTS.B,

17.99%,

2/13/25

..

100

102

991797883.UG.FTS.B,

17.99%,

2/13/25

..

507

58

991805467.UG.FTS.B,

17.99%,

2/13/25

..

288

293

991858226.UG.FTS.B,

17.99%,

2/13/25

..

327

37

991762564.UG.FTS.B,

18.97%,

2/13/25

..

427

435

991796484.UG.FTS.B,

18.97%,

2/13/25

..

107

108

991836240.UG.FTS.B,

18.97%,

2/13/25

..

449

458

991836655.UG.FTS.B,

18.97%,

2/13/25

..

9,871

10,078

991849600.UG.FTS.B,

18.97%,

2/13/25

..

0

0

991860430.UG.FTS.B,

18.97%,

2/13/25

..

161

163

991913732.UG.FTS.B,

18.97%,

2/13/25

..

15

15

991919865.UG.FTS.B,

18.97%,

2/13/25

..

1,078

1,091

991789837.UG.FTS.B,

19.21%,

2/13/25

..

696

710

991833735.UG.FTS.B,

19.21%,

2/13/25

..

897

915

991888359.UG.FTS.B,

19.21%,

2/13/25

..

223

228

991994001.UG.FTS.B,

19.21%,

2/13/25

..

623

631

991763007.UG.FTS.B,

19.8%,

2/13/25

...

122

122

991806441.UG.FTS.B,

19.8%,

2/13/25

...

38

39

991806983.UG.FTS.B,

19.8%,

2/13/25

...

156

159

991807781.UG.FTS.B,

19.8%,

2/13/25

...

77

78

991820791.UG.FTS.B,

19.8%,

2/13/25

...

1,081

1,103

991821308.UG.FTS.B,

19.8%,

2/13/25

...

93

94

991845354.UG.FTS.B,

19.8%,

2/13/25

...

528

62

991858233.UG.FTS.B,

19.8%,

2/13/25

...

2,701

2,725

991940930.UG.FTS.B,

19.8%,

2/13/25

...

225

0

991975290.UG.FTS.B,

19.8%,

2/13/25

...

1,783

1,804

991991177.UG.FTS.B,

19.8%,

2/13/25

...

469

472

991804993.UG.FTS.B,

19.99%,

2/13/25

..

516

530

991806621.UG.FTS.B,

19.99%,

2/13/25

..

47

47

991809576.UG.FTS.B,

19.99%,

2/13/25

..

133

135

991815843.UG.FTS.B,

19.99%,

2/13/25

..

850

857

991816388.UG.FTS.B,

19.99%,

2/13/25

..

92

22

991820719.UG.FTS.B,

19.99%,

2/13/25

..

296

60

991821239.UG.FTS.B,

19.99%,

2/13/25

..

16

16

991828017.UG.FTS.B,

19.99%,

2/13/25

..

157

158

991830289.UG.FTS.B,

19.99%,

2/13/25

..

338

340

991831745.UG.FTS.B,

19.99%,

2/13/25

..

327

336

991834564.UG.FTS.B,

19.99%,

2/13/25

..

2,306

2,362

991849814.UG.FTS.B,

19.99%,

2/13/25

..

491

498

991819463.UG.FTS.B,

20.46%,

2/13/25

..

546

555

991820645.UG.FTS.B,

20.46%,

2/13/25

..

420

421

991832645.UG.FTS.B,

20.46%,

2/13/25

..

1,800

1,833

991835719.UG.FTS.B,

20.46%,

2/13/25

..

2,924

2,978

991836357.UG.FTS.B,

20.46%,

2/13/25

..

5,400

5,499

991851215.UG.FTS.B,

20.46%,

2/13/25

..

102

104

991810702.UG.FTS.B,

20.97%,

2/13/25

..

1,354

1,377

991839486.UG.FTS.B,

20.97%,

2/13/25

..

137

139

991844000.UG.FTS.B,

20.97%,

2/13/25

..

293

21

991777956.UG.FTS.B,

21.46%,

2/13/25

..

672

676

991791788.UG.FTS.B,

21.46%,

2/13/25

..

1,379

890

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991804021.UG.FTS.B,

21.46%,

2/13/25

..

$

29

$

29

991804184.UG.FTS.B,

21.46%,

2/13/25

..

1,803

1,821

991817961.UG.FTS.B,

21.46%,

2/13/25

..

2,327

2,356

991826312.UG.FTS.B,

21.46%,

2/13/25

..

990

995

991833251.UG.FTS.B,

21.46%,

2/13/25

..

406

412

991844908.UG.FTS.B,

21.46%,

2/13/25

..

2,523

2,562

991867322.UG.FTS.B,

21.46%,

2/13/25

..

283

285

991931653.UG.FTS.B,

21.46%,

2/13/25

..

10

10

991796246.UG.FTS.B,

21.98%,

2/13/25

..

323

327

991835728.UG.FTS.B,

21.98%,

2/13/25

..

1,349

1,369

991838484.UG.FTS.B,

21.98%,

2/13/25

..

577

580

991855241.UG.FTS.B,

21.98%,

2/13/25

..

533

541

991884233.UG.FTS.B,

21.98%,

2/13/25

..

130

132

991964103.UG.FTS.B,

21.98%,

2/13/25

..

269

270

991998771.UG.FTS.B,

21.98%,

2/13/25

..

13

13

991845521.UG.FTS.B,

22.95%,

2/13/25

..

4,065

4,116

991873234.UG.FTS.B,

22.95%,

2/13/25

..

45

4

991833637.UG.FTS.B,

22.97%,

2/13/25

..

723

734

992002854.UG.FTS.B,

22.97%,

2/13/25

..

8,917

8,966

991836654.UG.FTS.B,

23.95%,

2/13/25

..

1,807

1,829

991821331.UG.FTS.B,

25.94%,

2/13/25

..

38

38

991807139.UG.FTS.B,

25.95%,

2/13/25

..

536

67

991874122.UG.FTS.B,

25.95%,

2/13/25

..

325

328

991957156.UG.FTS.B,

26.94%,

2/13/25

..

89

6

991817461.UG.FTS.B,

27.99%,

2/13/25

..

538

550

991832074.UG.FTS.B,

27.99%,

2/13/25

..

129

133

991851393.UG.FTS.B,

27.99%,

2/13/25

..

25

25

991744979.UG.FTS.B,

28.98%,

2/13/25

..

1,080

137

991762295.UG.FTS.B,

28.98%,

2/13/25

..

122

126

991773511.UG.FTS.B,

28.98%,

2/13/25

..

230

236

991777156.UG.FTS.B,

28.98%,

2/13/25

..

1,350

1,371

991777586.UG.FTS.B,

28.98%,

2/13/25

..

43

15

991778042.UG.FTS.B,

28.98%,

2/13/25

..

71

72

991787589.UG.FTS.B,

28.98%,

2/13/25

..

311

311

991794293.UG.FTS.B,

28.98%,

2/13/25

..

1,514

329

991795226.UG.FTS.B,

28.98%,

2/13/25

..

281

281

991802820.UG.FTS.B,

28.98%,

2/13/25

..

113

117

991804596.UG.FTS.B,

28.98%,

2/13/25

..

133

135

991804663.UG.FTS.B,

28.98%,

2/13/25

..

158

162

991805354.UG.FTS.B,

28.98%,

2/13/25

..

166

171

991805844.UG.FTS.B,

28.98%,

2/13/25

..

616

614

991805871.UG.FTS.B,

28.98%,

2/13/25

..

2,250

486

991807185.UG.FTS.B,

28.98%,

2/13/25

..

94

96

991808120.UG.FTS.B,

28.98%,

2/13/25

..

276

276

991808321.UG.FTS.B,

28.98%,

2/13/25

..

544

559

991808486.UG.FTS.B,

28.98%,

2/13/25

..

371

378

991808933.UG.FTS.B,

28.98%,

2/13/25

..

198

204

991809700.UG.FTS.B,

28.98%,

2/13/25

..

664

674

991811977.UG.FTS.B,

28.98%,

2/13/25

..

151

19

991812723.UG.FTS.B,

28.98%,

2/13/25

..

43

44

991812997.UG.FTS.B,

28.98%,

2/13/25

..

425

436

991814474.UG.FTS.B,

28.98%,

2/13/25

..

69

70

991815858.UG.FTS.B,

28.98%,

2/13/25

..

316

314

991816221.UG.FTS.B,

28.98%,

2/13/25

..

201

207

991816240.UG.FTS.B,

28.98%,

2/13/25

..

518

533

991817001.UG.FTS.B,

28.98%,

2/13/25

..

649

650

991817771.UG.FTS.B,

28.98%,

2/13/25

..

125

128

991818481.UG.FTS.B,

28.98%,

2/13/25

..

108

111

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

106

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991818673.UG.FTS.B,

28.98%,

2/13/25

..

$

2

$

2

991818892.UG.FTS.B,

28.98%,

2/13/25

..

139

142

991822597.UG.FTS.B,

28.98%,

2/13/25

..

246

253

991823147.UG.FTS.B,

28.98%,

2/13/25

..

318

326

991823198.UG.FTS.B,

28.98%,

2/13/25

..

204

208

991823378.UG.FTS.B,

28.98%,

2/13/25

..

812

834

991824148.UG.FTS.B,

28.98%,

2/13/25

..

4,000

4,050

991824399.UG.FTS.B,

28.98%,

2/13/25

..

74

76

991824427.UG.FTS.B,

28.98%,

2/13/25

..

45

3

991826741.UG.FTS.B,

28.98%,

2/13/25

..

313

68

991827841.UG.FTS.B,

28.98%,

2/13/25

..

90

92

991828038.UG.FTS.B,

28.98%,

2/13/25

..

489

488

991828499.UG.FTS.B,

28.98%,

2/13/25

..

65

66

991829845.UG.FTS.B,

28.98%,

2/13/25

..

40

41

991832349.UG.FTS.B,

28.98%,

2/13/25

..

173

177

991833018.UG.FTS.B,

28.98%,

2/13/25

..

914

940

991833309.UG.FTS.B,

28.98%,

2/13/25

..

235

241

991836293.UG.FTS.B,

28.98%,

2/13/25

..

288

20

991837084.UG.FTS.B,

28.98%,

2/13/25

..

61

62

991838202.UG.FTS.B,

28.98%,

2/13/25

..

38

38

991840865.UG.FTS.B,

28.98%,

2/13/25

..

259

266

991841565.UG.FTS.B,

28.98%,

2/13/25

..

143

94

991844003.UG.FTS.B,

28.98%,

2/13/25

..

424

436

991844836.UG.FTS.B,

28.98%,

2/13/25

..

183

188

991845546.UG.FTS.B,

28.98%,

2/13/25

..

457

470

991847696.UG.FTS.B,

28.98%,

2/13/25

..

20

20

991848713.UG.FTS.B,

28.98%,

2/13/25

..

272

278

991849019.UG.FTS.B,

28.98%,

2/13/25

..

403

405

991849383.UG.FTS.B,

28.98%,

2/13/25

..

1,030

1,058

991849678.UG.FTS.B,

28.98%,

2/13/25

..

221

225

991852412.UG.FTS.B,

28.98%,

2/13/25

..

272

281

991853522.UG.FTS.B,

28.98%,

2/13/25

..

2,280

2,316

991854829.UG.FTS.B,

28.98%,

2/13/25

..

1,826

1,877

991857566.UG.FTS.B,

28.98%,

2/13/25

..

76

75

991830446.UG.FTS.B,

29.45%,

2/13/25

..

418

425

991828154.UG.FTS.B,

29.46%,

2/13/25

..

123

26

991806196.UG.FTS.B,

29.48%,

2/13/25

..

61

4

991758914.UG.FTS.B,

29.49%,

2/13/25

..

194

192

991762414.UG.FTS.B,

29.49%,

2/13/25

..

101

102

991762706.UG.FTS.B,

29.49%,

2/13/25

..

119

122

991782009.UG.FTS.B,

29.49%,

2/13/25

..

215

220

991794448.UG.FTS.B,

29.49%,

2/13/25

..

129

133

991797968.UG.FTS.B,

29.49%,

2/13/25

..

359

369

991799822.UG.FTS.B,

29.49%,

2/13/25

..

54

(2)

991802525.UG.FTS.B,

29.49%,

2/13/25

..

1,207

1,240

991803467.UG.FTS.B,

29.49%,

2/13/25

..

664

677

991804919.UG.FTS.B,

29.49%,

2/13/25

..

212

145

991805134.UG.FTS.B,

29.49%,

2/13/25

..

775

795

991805220.UG.FTS.B,

29.49%,

2/13/25

..

30

27

991806325.UG.FTS.B,

29.49%,

2/13/25

..

55

56

991806529.UG.FTS.B,

29.49%,

2/13/25

..

46

(2)

991806587.UG.FTS.B,

29.49%,

2/13/25

..

23

23

991807114.UG.FTS.B,

29.49%,

2/13/25

..

116

119

991807289.UG.FTS.B,

29.49%,

2/13/25

..

135

135

991807747.UG.FTS.B,

29.49%,

2/13/25

..

37

37

991807992.UG.FTS.B,

29.49%,

2/13/25

..

311

320

991808567.UG.FTS.B,

29.49%,

2/13/25

..

157

156

991808763.UG.FTS.B,

29.49%,

2/13/25

..

662

674

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991809477.UG.FTS.B,

29.49%,

2/13/25

..

$

118

$

8

991810336.UG.FTS.B,

29.49%,

2/13/25

..

175

127

991810935.UG.FTS.B,

29.49%,

2/13/25

..

250

257

991811705.UG.FTS.B,

29.49%,

2/13/25

..

224

221

991812601.UG.FTS.B,

29.49%,

2/13/25

..

484

107

991813160.UG.FTS.B,

29.49%,

2/13/25

..

146

150

991814314.UG.FTS.B,

29.49%,

2/13/25

..

1,121

1,152

991814587.UG.FTS.B,

29.49%,

2/13/25

..

342

346

991816392.UG.FTS.B,

29.49%,

2/13/25

..

116

119

991817661.UG.FTS.B,

29.49%,

2/13/25

..

29

30

991819350.UG.FTS.B,

29.49%,

2/13/25

..

10

10

991819716.UG.FTS.B,

29.49%,

2/13/25

..

17

17

991819956.UG.FTS.B,

29.49%,

2/13/25

..

6

6

991820548.UG.FTS.B,

29.49%,

2/13/25

..

1,998

2,027

991820840.UG.FTS.B,

29.49%,

2/13/25

..

243

249

991820980.UG.FTS.B,

29.49%,

2/13/25

..

17

17

991821533.UG.FTS.B,

29.49%,

2/13/25

..

69

71

991821534.UG.FTS.B,

29.49%,

2/13/25

..

490

108

991822037.UG.FTS.B,

29.49%,

2/13/25

..

7

6

991822593.UG.FTS.B,

29.49%,

2/13/25

..

194

194

991823964.UG.FTS.B,

29.49%,

2/13/25

..

115

117

991824463.UG.FTS.B,

29.49%,

2/13/25

..

386

396

991825720.UG.FTS.B,

29.49%,

2/13/25

..

2,060

2,115

991827070.UG.FTS.B,

29.49%,

2/13/25

..

54

55

991827767.UG.FTS.B,

29.49%,

2/13/25

..

49

3

991827782.UG.FTS.B,

29.49%,

2/13/25

..

194

197

991828091.UG.FTS.B,

29.49%,

2/13/25

..

54

53

991828506.UG.FTS.B,

29.49%,

2/13/25

..

196

147

991832788.UG.FTS.B,

29.49%,

2/13/25

..

280

62

991834798.UG.FTS.B,

29.49%,

2/13/25

..

102

105

991835479.UG.FTS.B,

29.49%,

2/13/25

..

915

941

991837195.UG.FTS.B,

29.49%,

2/13/25

..

27

11

991838853.UG.FTS.B,

29.49%,

2/13/25

..

10

9

991847707.UG.FTS.B,

29.49%,

2/13/25

..

359

356

991848004.UG.FTS.B,

29.49%,

2/13/25

..

72

73

991848153.UG.FTS.B,

29.49%,

2/13/25

..

77

79

991848705.UG.FTS.B,

29.49%,

2/13/25

..

20

20

991849400.UG.FTS.B,

29.49%,

2/13/25

..

42

42

991849622.UG.FTS.B,

29.49%,

2/13/25

..

389

393

991850772.UG.FTS.B,

29.49%,

2/13/25

..

141

142

991850891.UG.FTS.B,

29.49%,

2/13/25

..

442

300

991851446.UG.FTS.B,

29.49%,

2/13/25

..

102

13

991851569.UG.FTS.B,

29.49%,

2/13/25

..

55

56

991853150.UG.FTS.B,

29.49%,

2/13/25

..

128

29

991853241.UG.FTS.B,

29.49%,

2/13/25

..

57

58

991856005.UG.FTS.B,

29.49%,

2/13/25

..

69

71

991856013.UG.FTS.B,

29.49%,

2/13/25

..

335

343

991856056.UG.FTS.B,

29.49%,

2/13/25

..

73

73

991856222.UG.FTS.B,

29.49%,

2/13/25

..

206

212

991856603.UG.FTS.B,

29.49%,

2/13/25

..

11

11

991856844.UG.FTS.B,

29.49%,

2/13/25

..

93

6

991857159.UG.FTS.B,

29.49%,

2/13/25

..

716

735

991857359.UG.FTS.B,

29.49%,

2/13/25

..

42

42

991857606.UG.FTS.B,

29.49%,

2/13/25

..

189

194

991859063.UG.FTS.B,

29.49%,

2/13/25

..

1,738

1,785

991865402.UG.FTS.B,

14.97%,

2/14/25

..

370

377

991955469.UG.FTS.B,

15%,

2/14/25

.....

901

916

991773058.UG.FTS.B,

15.97%,

2/14/25

..

268

274

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

107

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991856650.UG.FTS.B,

15.97%,

2/14/25

..

$

449

$

459

991918105.UG.FTS.B,

15.97%,

2/14/25

..

889

909

991963236.UG.FTS.B,

15.97%,

2/14/25

..

222

227

991770123.UG.FTS.B,

16.99%,

2/14/25

..

1,146

1,164

991784739.UG.FTS.B,

16.99%,

2/14/25

..

2,295

2,347

991796922.UG.FTS.B,

16.99%,

2/14/25

..

33

33

991820693.UG.FTS.B,

16.99%,

2/14/25

..

91

93

991844428.UG.FTS.B,

16.99%,

2/14/25

..

447

457

991939974.UG.FTS.B,

16.99%,

2/14/25

..

561

573

991962430.UG.FTS.B,

16.99%,

2/14/25

..

266

270

991767560.UG.FTS.B,

17.99%,

2/14/25

..

1,025

1,035

991772757.UG.FTS.B,

17.99%,

2/14/25

..

7,065

7,220

991775466.UG.FTS.B,

17.99%,

2/14/25

..

1,290

1,305

991813547.UG.FTS.B,

17.99%,

2/14/25

..

90

92

991813569.UG.FTS.B,

17.99%,

2/14/25

..

630

644

991984852.UG.FTS.B,

17.99%,

2/14/25

..

882

888

991830188.UG.FTS.B,

18.97%,

2/14/25

..

1,092

1,115

991904434.UG.FTS.B,

18.97%,

2/14/25

..

1,099

1,123

991836509.UG.FTS.B,

19.21%,

2/14/25

..

719

733

991871714.UG.FTS.B,

19.21%,

2/14/25

..

1,488

1,502

991917238.UG.FTS.B,

19.21%,

2/14/25

..

4,777

4,805

991975102.UG.FTS.B,

19.21%,

2/14/25

..

370

373

991807652.UG.FTS.B,

19.8%,

2/14/25

...

1,804

1,837

991815841.UG.FTS.B,

19.8%,

2/14/25

...

292

35

991871531.UG.FTS.B,

19.8%,

2/14/25

...

270

275

991873354.UG.FTS.B,

19.8%,

2/14/25

...

95

97

991804998.UG.FTS.B,

19.99%,

2/14/25

..

101

103

991805685.UG.FTS.B,

19.99%,

2/14/25

..

227

234

991809320.UG.FTS.B,

19.99%,

2/14/25

..

147

151

991810365.UG.FTS.B,

19.99%,

2/14/25

..

784

806

991820154.UG.FTS.B,

19.99%,

2/14/25

..

98

100

991842185.UG.FTS.B,

19.99%,

2/14/25

..

264

263

991804176.UG.FTS.B,

20.46%,

2/14/25

..

41

41

991926537.UG.FTS.B,

20.46%,

2/14/25

..

407

48

991819821.UG.FTS.B,

20.97%,

2/14/25

..

28

28

991825048.UG.FTS.B,

20.97%,

2/14/25

..

248

252

991854398.UG.FTS.B,

20.97%,

2/14/25

..

437

445

991900726.UG.FTS.B,

20.97%,

2/14/25

..

383

389

991823359.UG.FTS.B,

21.46%,

2/14/25

..

27

28

991824011.UG.FTS.B,

21.46%,

2/14/25

..

276

176

991889627.UG.FTS.B,

21.46%,

2/14/25

..

219

223

991897328.UG.FTS.B,

21.46%,

2/14/25

..

84

85

991910744.UG.FTS.B,

21.46%,

2/14/25

..

109

110

992008109.UG.FTS.B,

21.46%,

2/14/25

..

31

32

991828158.UG.FTS.B,

21.97%,

2/14/25

..

797

808

991790870.UG.FTS.B,

21.98%,

2/14/25

..

55

56

991853917.UG.FTS.B,

21.98%,

2/14/25

..

1,293

1,316

991870073.UG.FTS.B,

21.98%,

2/14/25

..

85

86

991990905.UG.FTS.B,

21.98%,

2/14/25

..

242

242

991809915.UG.FTS.B,

22.97%,

2/14/25

..

747

758

991811355.UG.FTS.B,

22.97%,

2/14/25

..

866

877

991836363.UG.FTS.B,

22.97%,

2/14/25

..

2,155

2,186

991844625.UG.FTS.B,

22.97%,

2/14/25

..

4,827

588

991914520.UG.FTS.B,

22.97%,

2/14/25

..

334

338

991803345.UG.FTS.B,

23.95%,

2/14/25

..

0

0

991827100.UG.FTS.B,

23.95%,

2/14/25

..

260

261

991833971.UG.FTS.B,

23.95%,

2/14/25

..

1,392

1,413

991841722.UG.FTS.B,

23.95%,

2/14/25

..

110

112

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991806406.UG.FTS.B,

25.94%,

2/14/25

..

$

200

$

200

991807752.UG.FTS.B,

25.95%,

2/14/25

..

335

218

991842393.UG.FTS.B,

25.95%,

2/14/25

..

86

87

991806048.UG.FTS.B,

26.94%,

2/14/25

..

12

12

991833216.UG.FTS.B,

26.94%,

2/14/25

..

458

463

991805856.UG.FTS.B,

27.99%,

2/14/25

..

94

93

991764741.UG.FTS.B,

28.98%,

2/14/25

..

3,222

3,248

991785193.UG.FTS.B,

28.98%,

2/14/25

..

761

780

991789845.UG.FTS.B,

28.98%,

2/14/25

..

54

54

991802904.UG.FTS.B,

28.98%,

2/14/25

..

279

183

991806111.UG.FTS.B,

28.98%,

2/14/25

..

100

100

991806712.UG.FTS.B,

28.98%,

2/14/25

..

140

144

991807226.UG.FTS.B,

28.98%,

2/14/25

..

156

102

991807412.UG.FTS.B,

28.98%,

2/14/25

..

856

870

991807486.UG.FTS.B,

28.98%,

2/14/25

..

213

219

991810229.UG.FTS.B,

28.98%,

2/14/25

..

1,284

1,320

991810494.UG.FTS.B,

28.98%,

2/14/25

..

359

358

991811911.UG.FTS.B,

28.98%,

2/14/25

..

160

162

991812817.UG.FTS.B,

28.98%,

2/14/25

..

44

43

991813070.UG.FTS.B,

28.98%,

2/14/25

..

10

10

991813107.UG.FTS.B,

28.98%,

2/14/25

..

1,616

111

991814585.UG.FTS.B,

28.98%,

2/14/25

..

1,015

1,042

991815145.UG.FTS.B,

28.98%,

2/14/25

..

175

180

991816870.UG.FTS.B,

28.98%,

2/14/25

..

31

31

991818104.UG.FTS.B,

28.98%,

2/14/25

..

409

410

991818260.UG.FTS.B,

28.98%,

2/14/25

..

247

254

991818687.UG.FTS.B,

28.98%,

2/14/25

..

60

60

991820882.UG.FTS.B,

28.98%,

2/14/25

..

894

912

991821081.UG.FTS.B,

28.98%,

2/14/25

..

200

206

991822308.UG.FTS.B,

28.98%,

2/14/25

..

24

23

991823151.UG.FTS.B,

28.98%,

2/14/25

..

328

333

991823633.UG.FTS.B,

28.98%,

2/14/25

..

208

213

991823684.UG.FTS.B,

28.98%,

2/14/25

..

502

501

991824915.UG.FTS.B,

28.98%,

2/14/25

..

126

129

991824938.UG.FTS.B,

28.98%,

2/14/25

..

41

42

991826645.UG.FTS.B,

28.98%,

2/14/25

..

37

3

991826791.UG.FTS.B,

28.98%,

2/14/25

..

2,438

2,505

991830053.UG.FTS.B,

28.98%,

2/14/25

..

19

19

991830152.UG.FTS.B,

28.98%,

2/14/25

..

316

323

991830245.UG.FTS.B,

28.98%,

2/14/25

..

5

5

991831056.UG.FTS.B,

28.98%,

2/14/25

..

6

6

991835570.UG.FTS.B,

28.98%,

2/14/25

..

183

188

991835935.UG.FTS.B,

28.98%,

2/14/25

..

410

422

991836630.UG.FTS.B,

28.98%,

2/14/25

..

1,097

1,128

991837382.UG.FTS.B,

28.98%,

2/14/25

..

386

397

991838203.UG.FTS.B,

28.98%,

2/14/25

..

120

123

991841375.UG.FTS.B,

28.98%,

2/14/25

..

453

460

991841496.UG.FTS.B,

28.98%,

2/14/25

..

153

155

991844234.UG.FTS.B,

28.98%,

2/14/25

..

404

52

991846374.UG.FTS.B,

28.98%,

2/14/25

..

10

10

991846596.UG.FTS.B,

28.98%,

2/14/25

..

16

16

991846898.UG.FTS.B,

28.98%,

2/14/25

..

646

664

991847760.UG.FTS.B,

28.98%,

2/14/25

..

111

114

991848162.UG.FTS.B,

28.98%,

2/14/25

..

89

89

991850348.UG.FTS.B,

28.98%,

2/14/25

..

16

16

991852690.UG.FTS.B,

28.98%,

2/14/25

..

34

34

991846792.UG.FTS.B,

29.46%,

2/14/25

..

336

332

991764780.UG.FTS.B,

29.49%,

2/14/25

..

116

118

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

108

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991777555.UG.FTS.B,

29.49%,

2/14/25

..

$

206

$

211

991787306.UG.FTS.B,

29.49%,

2/14/25

..

122

125

991790080.UG.FTS.B,

29.49%,

2/14/25

..

337

346

991792854.UG.FTS.B,

29.49%,

2/14/25

..

70

69

991792923.UG.FTS.B,

29.49%,

2/14/25

..

129

132

991793202.UG.FTS.B,

29.49%,

2/14/25

..

391

267

991800343.UG.FTS.B,

29.49%,

2/14/25

..

97

99

991801930.UG.FTS.B,

29.49%,

2/14/25

..

1,308

1,337

991802785.UG.FTS.B,

29.49%,

2/14/25

..

9

9

991802829.UG.FTS.B,

29.49%,

2/14/25

..

57

58

991803107.UG.FTS.B,

29.49%,

2/14/25

..

188

193

991803647.UG.FTS.B,

29.49%,

2/14/25

..

46

46

991805019.UG.FTS.B,

29.49%,

2/14/25

..

105

108

991805959.UG.FTS.B,

29.49%,

2/14/25

..

96

68

991806368.UG.FTS.B,

29.49%,

2/14/25

..

50

51

991806619.UG.FTS.B,

29.49%,

2/14/25

..

23

23

991806920.UG.FTS.B,

29.49%,

2/14/25

..

103

106

991807709.UG.FTS.B,

29.49%,

2/14/25

..

146

144

991807783.UG.FTS.B,

29.49%,

2/14/25

..

281

278

991807957.UG.FTS.B,

29.49%,

2/14/25

..

713

710

991808473.UG.FTS.B,

29.49%,

2/14/25

..

1,643

1,688

991808828.UG.FTS.B,

29.49%,

2/14/25

..

111

114

991809713.UG.FTS.B,

29.49%,

2/14/25

..

132

135

991809797.UG.FTS.B,

29.49%,

2/14/25

..

19

19

991809816.UG.FTS.B,

29.49%,

2/14/25

..

203

208

991809954.UG.FTS.B,

29.49%,

2/14/25

..

667

683

991810685.UG.FTS.B,

29.49%,

2/14/25

..

191

196

991811157.UG.FTS.B,

29.49%,

2/14/25

..

230

236

991811323.UG.FTS.B,

29.49%,

2/14/25

..

497

(20)

991811373.UG.FTS.B,

29.49%,

2/14/25

..

641

658

991811441.UG.FTS.B,

29.49%,

2/14/25

..

1,525

1,529

991812008.UG.FTS.B,

29.49%,

2/14/25

..

9

9

991812058.UG.FTS.B,

29.49%,

2/14/25

..

187

189

991812461.UG.FTS.B,

29.49%,

2/14/25

..

2,169

2,188

991813104.UG.FTS.B,

29.49%,

2/14/25

..

1

1

991813891.UG.FTS.B,

29.49%,

2/14/25

..

76

(3)

991814129.UG.FTS.B,

29.49%,

2/14/25

..

172

170

991814749.UG.FTS.B,

29.49%,

2/14/25

..

24

23

991815619.UG.FTS.B,

29.49%,

2/14/25

..

85

86

991817021.UG.FTS.B,

29.49%,

2/14/25

..

112

115

991817215.UG.FTS.B,

29.49%,

2/14/25

..

9

9

991818262.UG.FTS.B,

29.49%,

2/14/25

..

217

221

991818882.UG.FTS.B,

29.49%,

2/14/25

..

457

459

991818945.UG.FTS.B,

29.49%,

2/14/25

..

579

593

991819000.UG.FTS.B,

29.49%,

2/14/25

..

198

203

991819009.UG.FTS.B,

29.49%,

2/14/25

..

301

308

991820047.UG.FTS.B,

29.49%,

2/14/25

..

917

942

991820487.UG.FTS.B,

29.49%,

2/14/25

..

6

6

991821673.UG.FTS.B,

29.49%,

2/14/25

..

67

68

991821694.UG.FTS.B,

29.49%,

2/14/25

..

465

478

991822062.UG.FTS.B,

29.49%,

2/14/25

..

30

30

991822073.UG.FTS.B,

29.49%,

2/14/25

..

329

337

991822173.UG.FTS.B,

29.49%,

2/14/25

..

218

223

991822208.UG.FTS.B,

29.49%,

2/14/25

..

144

94

991822415.UG.FTS.B,

29.49%,

2/14/25

..

6

6

991822660.UG.FTS.B,

29.49%,

2/14/25

..

–

–

991823154.UG.FTS.B,

29.49%,

2/14/25

..

86

85

991823493.UG.FTS.B,

29.49%,

2/14/25

..

82

83

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991823710.UG.FTS.B,

29.49%,

2/14/25

..

$

367

$

377

991824618.UG.FTS.B,

29.49%,

2/14/25

..

73

57

991824825.UG.FTS.B,

29.49%,

2/14/25

..

0

0

991825101.UG.FTS.B,

29.49%,

2/14/25

..

867

891

991825539.UG.FTS.B,

29.49%,

2/14/25

..

58

59

991825782.UG.FTS.B,

29.49%,

2/14/25

..

111

114

991826429.UG.FTS.B,

29.49%,

2/14/25

..

67

68

991826813.UG.FTS.B,

29.49%,

2/14/25

..

129

132

991829241.UG.FTS.B,

29.49%,

2/14/25

..

77

76

991830090.UG.FTS.B,

29.49%,

2/14/25

..

1

1

991831048.UG.FTS.B,

29.49%,

2/14/25

..

1,550

1,591

991831815.UG.FTS.B,

29.49%,

2/14/25

..

603

79

991832048.UG.FTS.B,

29.49%,

2/14/25

..

128

132

991832343.UG.FTS.B,

29.49%,

2/14/25

..

266

273

991833084.UG.FTS.B,

29.49%,

2/14/25

..

12

12

991834001.UG.FTS.B,

29.49%,

2/14/25

..

275

282

991835429.UG.FTS.B,

29.49%,

2/14/25

..

916

940

991836066.UG.FTS.B,

29.49%,

2/14/25

..

4,222

4,309

991836090.UG.FTS.B,

29.49%,

2/14/25

..

903

926

991836165.UG.FTS.B,

29.49%,

2/14/25

..

5,459

5,600

991837815.UG.FTS.B,

29.49%,

2/14/25

..

53

53

991838877.UG.FTS.B,

29.49%,

2/14/25

..

579

591

991839300.UG.FTS.B,

29.49%,

2/14/25

..

115

118

991840916.UG.FTS.B,

29.49%,

2/14/25

..

134

136

991841057.UG.FTS.B,

29.49%,

2/14/25

..

34

34

991842038.UG.FTS.B,

29.49%,

2/14/25

..

160

165

991842597.UG.FTS.B,

29.49%,

2/14/25

..

438

444

991843173.UG.FTS.B,

29.49%,

2/14/25

..

137

137

991843756.UG.FTS.B,

29.49%,

2/14/25

..

2,536

2,607

991844460.UG.FTS.B,

29.49%,

2/14/25

..

69

70

991844683.UG.FTS.B,

29.49%,

2/14/25

..

59

60

991845578.UG.FTS.B,

29.49%,

2/14/25

..

278

286

991846435.UG.FTS.B,

29.49%,

2/14/25

..

775

784

991847323.UG.FTS.B,

29.49%,

2/14/25

..

133

135

991848551.UG.FTS.B,

29.49%,

2/14/25

..

76

(3)

991849155.UG.FTS.B,

29.49%,

2/14/25

..

300

308

991850312.UG.FTS.B,

29.49%,

2/14/25

..

70

71

991850326.UG.FTS.B,

29.49%,

2/14/25

..

847

866

991850684.UG.FTS.B,

29.49%,

2/14/25

..

8

8

991851352.UG.FTS.B,

29.49%,

2/14/25

..

43

43

991852753.UG.FTS.B,

29.49%,

2/14/25

..

170

174

991852815.UG.FTS.B,

29.49%,

2/14/25

..

79

81

991853105.UG.FTS.B,

29.49%,

2/14/25

..

333

328

991854406.UG.FTS.B,

29.49%,

2/14/25

..

56

56

991855825.UG.FTS.B,

29.49%,

2/14/25

..

1,476

1,512

991819981.UG.FTS.B,

29.99%,

2/14/25

..

97

99

991867337.UG.FTS.B,

14.98%,

2/15/25

..

686

701

991789128.UG.FTS.B,

15%,

2/15/25

.....

1,503

1,531

991808536.UG.FTS.B,

15.97%,

2/15/25

..

473

476

991851600.UG.FTS.B,

15.97%,

2/15/25

..

368

377

991968703.UG.FTS.B,

15.97%,

2/15/25

..

173

176

991781788.UG.FTS.B,

15.99%,

2/15/25

..

598

611

991818245.UG.FTS.B,

15.99%,

2/15/25

..

436

450

991774883.UG.FTS.B,

16.99%,

2/15/25

..

1,027

1,049

991849835.UG.FTS.B,

16.99%,

2/15/25

..

551

564

991885852.UG.FTS.B,

16.99%,

2/15/25

..

142

145

991893267.UG.FTS.B,

16.99%,

2/15/25

..

44

44

991967241.UG.FTS.B,

16.99%,

2/15/25

..

204

207

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

109

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991780783.UG.FTS.B,

17.99%,

2/15/25

..

$

1,051

$

1,072

991784876.UG.FTS.B,

17.99%,

2/15/25

..

995

1,017

991808185.UG.FTS.B,

17.99%,

2/15/25

..

806

824

991835127.UG.FTS.B,

17.99%,

2/15/25

..

717

733

991836757.UG.FTS.B,

17.99%,

2/15/25

..

23

23

991843354.UG.FTS.B,

17.99%,

2/15/25

..

1,924

140

991897877.UG.FTS.B,

17.99%,

2/15/25

..

1,498

1,522

992001641.UG.FTS.B,

17.99%,

2/15/25

..

262

267

992012657.UG.FTS.B,

17.99%,

2/15/25

..

23

24

991838452.UG.FTS.B,

18.97%,

2/15/25

..

1,037

1,052

991853538.UG.FTS.B,

18.97%,

2/15/25

..

1,072

1,100

991816660.UG.FTS.B,

19.21%,

2/15/25

..

622

627

991842168.UG.FTS.B,

19.21%,

2/15/25

..

590

599

991860520.UG.FTS.B,

19.21%,

2/15/25

..

1,334

1,361

991872897.UG.FTS.B,

19.21%,

2/15/25

..

388

401

991881808.UG.FTS.B,

19.21%,

2/15/25

..

176

180

991886048.UG.FTS.B,

19.21%,

2/15/25

..

421

428

991812612.UG.FTS.B,

19.8%,

2/15/25

...

362

0

991885352.UG.FTS.B,

19.8%,

2/15/25

...

112

114

991949634.UG.FTS.B,

19.8%,

2/15/25

...

66

66

991776382.UG.FTS.B,

19.99%,

2/15/25

..

1,972

2,025

991777402.UG.FTS.B,

19.99%,

2/15/25

..

87

90

991784969.UG.FTS.B,

19.99%,

2/15/25

..

2,081

2,126

991802931.UG.FTS.B,

19.99%,

2/15/25

..

140

144

991811839.UG.FTS.B,

19.99%,

2/15/25

..

79

81

991818313.UG.FTS.B,

19.99%,

2/15/25

..

23

23

991826984.UG.FTS.B,

19.99%,

2/15/25

..

164

0

991828205.UG.FTS.B,

19.99%,

2/15/25

..

298

306

991829098.UG.FTS.B,

19.99%,

2/15/25

..

649

668

991830107.UG.FTS.B,

19.99%,

2/15/25

..

4,366

4,490

991830523.UG.FTS.B,

19.99%,

2/15/25

..

975

998

991831697.UG.FTS.B,

19.99%,

2/15/25

..

327

332

991848172.UG.FTS.B,

19.99%,

2/15/25

..

59

58

991882287.UG.FTS.B,

20.46%,

2/15/25

..

143

143

991812531.UG.FTS.B,

20.97%,

2/15/25

..

84

86

991830455.UG.FTS.B,

21.46%,

2/15/25

..

46

4

991839957.UG.FTS.B,

21.46%,

2/15/25

..

680

691

991853957.UG.FTS.B,

21.46%,

2/15/25

..

125

125

991961941.UG.FTS.B,

21.46%,

2/15/25

..

308

310

991841309.UG.FTS.B,

21.97%,

2/15/25

..

443

448

991854474.UG.FTS.B,

21.97%,

2/15/25

..

354

25

991787154.UG.FTS.B,

21.98%,

2/15/25

..

29

30

991815080.UG.FTS.B,

21.98%,

2/15/25

..

1,062

1,069

991826445.UG.FTS.B,

21.98%,

2/15/25

..

214

216

991835552.UG.FTS.B,

21.98%,

2/15/25

..

452

459

991840270.UG.FTS.B,

21.98%,

2/15/25

..

172

12

991851245.UG.FTS.B,

21.98%,

2/15/25

..

182

183

991857809.UG.FTS.B,

21.98%,

2/15/25

..

93

94

991840733.UG.FTS.B,

22.95%,

2/15/25

..

77

78

991841980.UG.FTS.B,

23.95%,

2/15/25

..

28

2

991946872.UG.FTS.B,

23.95%,

2/15/25

..

351

354

991817876.UG.FTS.B,

25.95%,

2/15/25

..

24

24

991819245.UG.FTS.B,

25.95%,

2/15/25

..

64

63

991849296.UG.FTS.B,

26.94%,

2/15/25

..

306

309

991812504.UG.FTS.B,

27.95%,

2/15/25

..

30

30

991792838.UG.FTS.B,

27.99%,

2/15/25

..

747

768

991807279.UG.FTS.B,

27.99%,

2/15/25

..

164

168

991831101.UG.FTS.B,

27.99%,

2/15/25

..

151

152

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991844308.UG.FTS.B,

27.99%,

2/15/25

..

$

1,369

$

1,402

991779814.UG.FTS.B,

28.98%,

2/15/25

..

880

907

991782070.UG.FTS.B,

28.98%,

2/15/25

..

70

71

991788417.UG.FTS.B,

28.98%,

2/15/25

..

442

444

991804378.UG.FTS.B,

28.98%,

2/15/25

..

113

112

991805452.UG.FTS.B,

28.98%,

2/15/25

..

13

13

991806437.UG.FTS.B,

28.98%,

2/15/25

..

456

31

991806632.UG.FTS.B,

28.98%,

2/15/25

..

270

278

991806791.UG.FTS.B,

28.98%,

2/15/25

..

178

181

991808277.UG.FTS.B,

28.98%,

2/15/25

..

346

356

991808378.UG.FTS.B,

28.98%,

2/15/25

..

199

26

991808466.UG.FTS.B,

28.98%,

2/15/25

..

212

218

991808666.UG.FTS.B,

28.98%,

2/15/25

..

462

461

991811774.UG.FTS.B,

28.98%,

2/15/25

..

208

214

991815135.UG.FTS.B,

28.98%,

2/15/25

..

120

123

991816146.UG.FTS.B,

28.98%,

2/15/25

..

54

54

991817506.UG.FTS.B,

28.98%,

2/15/25

..

21

21

991817978.UG.FTS.B,

28.98%,

2/15/25

..

917

932

991818026.UG.FTS.B,

28.98%,

2/15/25

..

177

179

991818637.UG.FTS.B,

28.98%,

2/15/25

..

46

47

991819395.UG.FTS.B,

28.98%,

2/15/25

..

110

113

991820317.UG.FTS.B,

28.98%,

2/15/25

..

516

531

991822271.UG.FTS.B,

28.98%,

2/15/25

..

356

359

991822996.UG.FTS.B,

28.98%,

2/15/25

..

234

240

991823651.UG.FTS.B,

28.98%,

2/15/25

..

51

51

991823702.UG.FTS.B,

28.98%,

2/15/25

..

389

399

991824311.UG.FTS.B,

28.98%,

2/15/25

..

335

(13)

991824431.UG.FTS.B,

28.98%,

2/15/25

..

21

21

991825566.UG.FTS.B,

28.98%,

2/15/25

..

121

124

991830158.UG.FTS.B,

28.98%,

2/15/25

..

91

93

991830669.UG.FTS.B,

28.98%,

2/15/25

..

2,294

2,323

991834063.UG.FTS.B,

28.98%,

2/15/25

..

3,463

3,544

991835621.UG.FTS.B,

28.98%,

2/15/25

..

916

942

991835626.UG.FTS.B,

28.98%,

2/15/25

..

277

284

991836573.UG.FTS.B,

28.98%,

2/15/25

..

1,374

1,412

991836944.UG.FTS.B,

28.98%,

2/15/25

..

81

82

991839018.UG.FTS.B,

28.98%,

2/15/25

..

23

23

991840458.UG.FTS.B,

28.98%,

2/15/25

..

168

169

991841549.UG.FTS.B,

28.98%,

2/15/25

..

57

56

991843119.UG.FTS.B,

28.98%,

2/15/25

..

248

255

991843450.UG.FTS.B,

28.98%,

2/15/25

..

226

228

991844015.UG.FTS.B,

28.98%,

2/15/25

..

65

66

991844759.UG.FTS.B,

28.98%,

2/15/25

..

320

329

991852017.UG.FTS.B,

28.98%,

2/15/25

..

237

243

991852088.UG.FTS.B,

28.98%,

2/15/25

..

74

75

991853669.UG.FTS.B,

28.98%,

2/15/25

..

1,371

1,410

991853796.UG.FTS.B,

28.98%,

2/15/25

..

274

282

991854401.UG.FTS.B,

28.98%,

2/15/25

..

185

190

991855575.UG.FTS.B,

28.98%,

2/15/25

..

207

210

991778437.UG.FTS.B,

29.49%,

2/15/25

..

298

306

991782090.UG.FTS.B,

29.49%,

2/15/25

..

34

2

991782175.UG.FTS.B,

29.49%,

2/15/25

..

230

30

991785490.UG.FTS.B,

29.49%,

2/15/25

..

498

510

991788518.UG.FTS.B,

29.49%,

2/15/25

..

19

19

991794398.UG.FTS.B,

29.49%,

2/15/25

..

368

372

991794490.UG.FTS.B,

29.49%,

2/15/25

..

190

123

991795810.UG.FTS.B,

29.49%,

2/15/25

..

46

47

991803200.UG.FTS.B,

29.49%,

2/15/25

..

499

513

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

110

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991803612.UG.FTS.B,

29.49%,

2/15/25

..

$

109

$

113

991803666.UG.FTS.B,

29.49%,

2/15/25

..

47

47

991803750.UG.FTS.B,

29.49%,

2/15/25

..

294

293

991803753.UG.FTS.B,

29.49%,

2/15/25

..

130

131

991803862.UG.FTS.B,

29.49%,

2/15/25

..

45

46

991804151.UG.FTS.B,

29.49%,

2/15/25

..

106

109

991806032.UG.FTS.B,

29.49%,

2/15/25

..

155

153

991806084.UG.FTS.B,

29.49%,

2/15/25

..

236

234

991806308.UG.FTS.B,

29.49%,

2/15/25

..

43

44

991806704.UG.FTS.B,

29.49%,

2/15/25

..

860

881

991807047.UG.FTS.B,

29.49%,

2/15/25

..

60

61

991807151.UG.FTS.B,

29.49%,

2/15/25

..

205

210

991807392.UG.FTS.B,

29.49%,

2/15/25

..

76

77

991807849.UG.FTS.B,

29.49%,

2/15/25

..

627

643

991807976.UG.FTS.B,

29.49%,

2/15/25

..

148

151

991808149.UG.FTS.B,

29.49%,

2/15/25

..

107

74

991808383.UG.FTS.B,

29.49%,

2/15/25

..

117

120

991808493.UG.FTS.B,

29.49%,

2/15/25

..

163

168

991811260.UG.FTS.B,

29.49%,

2/15/25

..

472

485

991811830.UG.FTS.B,

29.49%,

2/15/25

..

323

332

991811888.UG.FTS.B,

29.49%,

2/15/25

..

83

84

991812152.UG.FTS.B,

29.49%,

2/15/25

..

47

48

991814443.UG.FTS.B,

29.49%,

2/15/25

..

313

322

991816017.UG.FTS.B,

29.49%,

2/15/25

..

210

209

991816717.UG.FTS.B,

29.49%,

2/15/25

..

295

303

991816760.UG.FTS.B,

29.49%,

2/15/25

..

52

52

991817668.UG.FTS.B,

29.49%,

2/15/25

..

452

464

991818088.UG.FTS.B,

29.49%,

2/15/25

..

24

24

991818158.UG.FTS.B,

29.49%,

2/15/25

..

161

164

991818267.UG.FTS.B,

29.49%,

2/15/25

..

100

103

991818477.UG.FTS.B,

29.49%,

2/15/25

..

34

34

991818772.UG.FTS.B,

29.49%,

2/15/25

..

136

136

991819045.UG.FTS.B,

29.49%,

2/15/25

..

163

108

991819355.UG.FTS.B,

29.49%,

2/15/25

..

122

125

991819412.UG.FTS.B,

29.49%,

2/15/25

..

225

230

991819703.UG.FTS.B,

29.49%,

2/15/25

..

102

101

991820040.UG.FTS.B,

29.49%,

2/15/25

..

108

107

991820526.UG.FTS.B,

29.49%,

2/15/25

..

383

394

991820905.UG.FTS.B,

29.49%,

2/15/25

..

33

34

991821762.UG.FTS.B,

29.49%,

2/15/25

..

11

11

991821958.UG.FTS.B,

29.49%,

2/15/25

..

124

127

991822516.UG.FTS.B,

29.49%,

2/15/25

..

47

47

991822595.UG.FTS.B,

29.49%,

2/15/25

..

518

346

991822688.UG.FTS.B,

29.49%,

2/15/25

..

42

42

991823020.UG.FTS.B,

29.49%,

2/15/25

..

90

88

991823250.UG.FTS.B,

29.49%,

2/15/25

..

697

52

991823354.UG.FTS.B,

29.49%,

2/15/25

..

533

532

991824951.UG.FTS.B,

29.49%,

2/15/25

..

183

185

991825651.UG.FTS.B,

29.49%,

2/15/25

..

1,005

1,025

991825953.UG.FTS.B,

29.49%,

2/15/25

..

3,206

3,292

991826189.UG.FTS.B,

29.49%,

2/15/25

..

55

55

991826550.UG.FTS.B,

29.49%,

2/15/25

..

255

261

991826630.UG.FTS.B,

29.49%,

2/15/25

..

88

87

991828736.UG.FTS.B,

29.49%,

2/15/25

..

536

542

991830568.UG.FTS.B,

29.49%,

2/15/25

..

306

315

991831792.UG.FTS.B,

29.49%,

2/15/25

..

408

418

991832219.UG.FTS.B,

29.49%,

2/15/25

..

104

106

991833201.UG.FTS.B,

29.49%,

2/15/25

..

351

349

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991833396.UG.FTS.B,

29.49%,

2/15/25

..

$

547

$

560

991834132.UG.FTS.B,

29.49%,

2/15/25

..

183

188

991834259.UG.FTS.B,

29.49%,

2/15/25

..

186

(7)

991834349.UG.FTS.B,

29.49%,

2/15/25

..

137

141

991835600.UG.FTS.B,

29.49%,

2/15/25

..

88

90

991836999.UG.FTS.B,

29.49%,

2/15/25

..

111

112

991837648.UG.FTS.B,

29.49%,

2/15/25

..

8

8

991838403.UG.FTS.B,

29.49%,

2/15/25

..

1

1

991838702.UG.FTS.B,

29.49%,

2/15/25

..

50

51

991839068.UG.FTS.B,

29.49%,

2/15/25

..

480

(19)

991839070.UG.FTS.B,

29.49%,

2/15/25

..

6

6

991839071.UG.FTS.B,

29.49%,

2/15/25

..

97

(1)

991839528.UG.FTS.B,

29.49%,

2/15/25

..

220

16

991839738.UG.FTS.B,

29.49%,

2/15/25

..

61

61

991839928.UG.FTS.B,

29.49%,

2/15/25

..

851

874

991839939.UG.FTS.B,

29.49%,

2/15/25

..

640

641

991840168.UG.FTS.B,

29.49%,

2/15/25

..

18

18

991840673.UG.FTS.B,

29.49%,

2/15/25

..

10

10

991840852.UG.FTS.B,

29.49%,

2/15/25

..

57

56

991841673.UG.FTS.B,

29.49%,

2/15/25

..

53

54

991841901.UG.FTS.B,

29.49%,

2/15/25

..

123

81

991842134.UG.FTS.B,

29.49%,

2/15/25

..

389

395

991842634.UG.FTS.B,

29.49%,

2/15/25

..

84

85

991842993.UG.FTS.B,

29.49%,

2/15/25

..

184

188

991843227.UG.FTS.B,

29.49%,

2/15/25

..

252

259

991843712.UG.FTS.B,

29.49%,

2/15/25

..

219

224

991845883.UG.FTS.B,

29.49%,

2/15/25

..

1,038

705

991846097.UG.FTS.B,

29.49%,

2/15/25

..

25

25

991846268.UG.FTS.B,

29.49%,

2/15/25

..

431

431

991846709.UG.FTS.B,

29.49%,

2/15/25

..

205

210

991848073.UG.FTS.B,

29.49%,

2/15/25

..

395

396

991848229.UG.FTS.B,

29.49%,

2/15/25

..

164

167

991849043.UG.FTS.B,

29.49%,

2/15/25

..

1,610

1,094

991849202.UG.FTS.B,

29.49%,

2/15/25

..

440

451

991849558.UG.FTS.B,

29.49%,

2/15/25

..

42

42

991849756.UG.FTS.B,

29.49%,

2/15/25

..

40

40

991850559.UG.FTS.B,

29.49%,

2/15/25

..

305

307

991851480.UG.FTS.B,

29.49%,

2/15/25

..

978

985

991852520.UG.FTS.B,

29.49%,

2/15/25

..

–

–

991853701.UG.FTS.B,

29.49%,

2/15/25

..

2,746

2,787

991854942.UG.FTS.B,

29.49%,

2/15/25

..

722

734

991855015.UG.FTS.B,

29.49%,

2/15/25

..

169

171

991856987.UG.FTS.B,

29.49%,

2/15/25

..

608

422

991857058.UG.FTS.B,

29.49%,

2/15/25

..

1,463

1,502

991842931.UG.FTS.B,

29.99%,

2/15/25

..

40

3

991842101.UG.FTS.B,

14%,

2/16/25

.....

76

76

991795872.UG.FTS.B,

14.97%,

2/16/25

..

315

322

991808441.UG.FTS.B,

14.97%,

2/16/25

..

153

156

991823722.UG.FTS.B,

14.97%,

2/16/25

..

781

800

991797926.UG.FTS.B,

14.98%,

2/16/25

..

272

277

991826430.UG.FTS.B,

14.98%,

2/16/25

..

103

105

991903247.UG.FTS.B,

14.98%,

2/16/25

..

4,619

4,727

991953998.UG.FTS.B,

14.98%,

2/16/25

..

95

97

991982440.UG.FTS.B,

14.98%,

2/16/25

..

92

94

991991539.UG.FTS.B,

14.98%,

2/16/25

..

86

87

991801116.UG.FTS.B,

15%,

2/16/25

.....

3,125

3,199

991844330.UG.FTS.B,

15%,

2/16/25

.....

444

455

991860571.UG.FTS.B,

15%,

2/16/25

.....

2,151

2,202

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

111

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991824562.UG.FTS.B,

15.97%,

2/16/25

..

$

102

$

104

991848121.UG.FTS.B,

15.97%,

2/16/25

..

601

614

991856680.UG.FTS.B,

15.97%,

2/16/25

..

28

28

991865373.UG.FTS.B,

15.97%,

2/16/25

..

54

55

991987790.UG.FTS.B,

15.97%,

2/16/25

..

81

83

991787407.UG.FTS.B,

16.99%,

2/16/25

..

404

414

991854632.UG.FTS.B,

16.99%,

2/16/25

..

459

470

991856762.UG.FTS.B,

16.99%,

2/16/25

..

125

128

991902815.UG.FTS.B,

16.99%,

2/16/25

..

194

198

991929151.UG.FTS.B,

16.99%,

2/16/25

..

85

86

991937144.UG.FTS.B,

16.99%,

2/16/25

..

2,494

2,552

991941145.UG.FTS.B,

16.99%,

2/16/25

..

333

339

991959965.UG.FTS.B,

16.99%,

2/16/25

..

97

97

991964791.UG.FTS.B,

16.99%,

2/16/25

..

1,779

1,821

991847924.UG.FTS.B,

17.97%,

2/16/25

..

256

262

991851044.UG.FTS.B,

17.97%,

2/16/25

..

1,370

1,392

991862779.UG.FTS.B,

17.99%,

2/16/25

..

1,115

1,141

991868894.UG.FTS.B,

17.99%,

2/16/25

..

934

955

991872326.UG.FTS.B,

17.99%,

2/16/25

..

4,395

4,493

991921494.UG.FTS.B,

17.99%,

2/16/25

..

5,712

5,843

991856214.UG.FTS.B,

29.49%,

2/16/25

..

198

199

991956251.UG.FTS.B,

29.49%,

2/16/25

..

325

327

991854974.UG.FTS.B,

19.99%,

2/17/25

..

225

232

991924629.UG.FTS.B,

19.99%,

2/17/25

..

50

51

991793801.UG.FTS.B,

28.98%,

2/17/25

..

100

102

991802308.UG.FTS.B,

28.98%,

2/17/25

..

4,461

4,584

991804304.UG.FTS.B,

28.98%,

2/17/25

..

259

267

991806681.UG.FTS.B,

28.98%,

2/17/25

..

843

868

991807154.UG.FTS.B,

28.98%,

2/17/25

..

26

26

991822283.UG.FTS.B,

28.98%,

2/17/25

..

1,699

1,065

991829349.UG.FTS.B,

28.98%,

2/17/25

..

661

679

991843418.UG.FTS.B,

28.98%,

2/17/25

..

238

245

991843448.UG.FTS.B,

28.98%,

2/17/25

..

36

37

991844950.UG.FTS.B,

28.98%,

2/17/25

..

87

90

991871837.UG.FTS.B,

28.98%,

2/17/25

..

680

47

991878584.UG.FTS.B,

28.98%,

2/17/25

..

360

370

991937848.UG.FTS.B,

28.98%,

2/17/25

..

1,546

1,592

991976569.UG.FTS.B,

28.98%,

2/17/25

..

1,269

1,307

991985560.UG.FTS.B,

28.98%,

2/17/25

..

453

466

991995440.UG.FTS.B,

28.98%,

2/17/25

..

341

342

991803894.UG.FTS.B,

29.49%,

2/17/25

..

0

0

991804608.UG.FTS.B,

29.49%,

2/17/25

..

24

24

991806949.UG.FTS.B,

29.49%,

2/17/25

..

125

129

991807261.UG.FTS.B,

29.49%,

2/17/25

..

55

56

991807326.UG.FTS.B,

29.49%,

2/17/25

..

16

16

991818263.UG.FTS.B,

29.49%,

2/17/25

..

2,758

2,815

991825237.UG.FTS.B,

29.49%,

2/17/25

..

165

164

991829390.UG.FTS.B,

29.49%,

2/17/25

..

37

38

991829765.UG.FTS.B,

29.49%,

2/17/25

..

254

262

991830438.UG.FTS.B,

29.49%,

2/17/25

..

238

245

991831432.UG.FTS.B,

29.49%,

2/17/25

..

142

146

991836178.UG.FTS.B,

29.49%,

2/17/25

..

989

681

991842771.UG.FTS.B,

29.49%,

2/17/25

..

558

39

991854422.UG.FTS.B,

29.49%,

2/17/25

..

955

640

991858035.UG.FTS.B,

29.49%,

2/17/25

..

51

51

991859896.UG.FTS.B,

29.49%,

2/17/25

..

390

401

991864234.UG.FTS.B,

29.49%,

2/17/25

..

458

472

991867715.UG.FTS.B,

29.49%,

2/17/25

..

272

278

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991896035.UG.FTS.B,

29.49%,

2/17/25

..

$

1,064

$

76

991924634.UG.FTS.B,

29.49%,

2/17/25

..

65

66

991949522.UG.FTS.B,

29.49%,

2/17/25

..

456

469

991977762.UG.FTS.B,

29.49%,

2/17/25

..

294

298

992003670.UG.FTS.B,

29.49%,

2/17/25

..

436

437

992008864.UG.FTS.B,

29.49%,

2/17/25

..

199

202

991964478.UG.FTS.B,

17.99%,

2/17/27

..

513

518

991866761.UG.FTS.B,

16.99%,

3/10/27

..

1

0

991806421.UG.FTS.B,

29.49%,

3/14/27

..

–

–

991843516.UG.FTS.B,

29.49%,

3/14/27

..

3

0

991808214.UG.FTS.B,

28.98%,

3/15/27

..

–

–

991805451.UG.FTS.B,

19.99%,

4/13/27

..

3

0

991913435.UG.FTS.B,

18.97%,

4/14/27

..

5

0

991824563.UG.FTS.B,

29.49%,

4/15/27

..

0

0

991788809.UG.FTS.B,

17.99%,

5/12/27

..

–

–

991808591.UG.FTS.B,

28.98%,

5/13/27

..

–

–

991838841.UG.FTS.B,

28.98%,

5/13/27

..

11

6

991820013.UG.FTS.B,

29.49%,

5/14/27

..

8

0

991853324.UG.FTS.B,

29.49%,

6/12/27

..

15

1

991778199.UG.FTS.B,

29.49%,

6/13/27

..

9

9

991838337.UG.FTS.B,

28.98%,

6/14/27

..

11

0

991807125.UG.FTS.B,

29.49%,

6/14/27

..

0

0

991818879.UG.FTS.B,

29.49%,

6/14/27

..

7

0

991820649.UG.FTS.B,

19.99%,

6/15/27

..

0

0

991826927.UG.FTS.B,

28.98%,

6/15/27

..

0

0

991843504.UG.FTS.B,

29.49%,

6/15/27

..

0

0

991805596.UG.FTS.B,

29.49%,

7/12/27

..

0

0

991809517.UG.FTS.B,

29.49%,

7/13/27

..

–

–

991809821.UG.FTS.B,

29.49%,

7/14/27

..

0

0

991817002.UG.FTS.B,

29.49%,

7/14/27

..

6

1

991839003.UG.FTS.B,

29.49%,

7/14/27

..

10

2

991849537.UG.FTS.B,

29.49%,

7/14/27

..

0

0

991855500.UG.FTS.B,

29.49%,

7/14/27

..

0

0

991777658.UG.FTS.B,

29.48%,

7/15/27

..

11

1

991806608.UG.FTS.B,

29.49%,

7/15/27

..

5

1

991825496.UG.FTS.B,

29.49%,

7/15/27

..

19

1

991809689.UG.FTS.B,

19.8%,

8/12/27

...

2

2

991827402.UG.FTS.B,

28.98%,

8/12/27

..

7

1

991853043.UG.FTS.B,

28.98%,

8/12/27

..

7

7

991812747.UG.FTS.B,

29.49%,

8/12/27

..

3

3

991818978.UG.FTS.B,

29.49%,

8/12/27

..

1

1

991838398.UG.FTS.B,

29.49%,

8/12/27

..

3

3

991847786.UG.FTS.B,

29.49%,

8/12/27

..

4

4

991829388.UG.FTS.B,

23.45%,

8/13/27

..

1

1

991825832.UG.FTS.B,

28.98%,

8/13/27

..

2

2

991819185.UG.FTS.B,

29.49%,

8/13/27

..

3

3

991823833.UG.FTS.B,

29.49%,

8/13/27

..

6

4

991817686.UG.FTS.B,

20.47%,

8/15/27

..

5

5

991847890.UG.FTS.B,

27.99%,

8/15/27

..

2

2

991807033.UG.FTS.B,

29.49%,

8/15/27

..

1

1

991829553.UG.FTS.B,

29.49%,

8/15/27

..

1

1

991841111.UG.FTS.B,

29.49%,

8/15/27

...

2

2

991843487.UG.FTS.B,

29.49%,

8/17/27

..

3

3

991921354.UG.FTS.B,

29.49%,

8/17/27

..

2

2

585,253

Upstart

Network,

Inc.

L1714497.UP.FTS.B,

5.26%,

9/15/24

....

7,377

7,315

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

112

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L1716943.UP.FTS.B,

9.3%,

9/15/24

.....

$

7,473

$

7,413

L1715024.UP.FTS.B,

9.8%,

9/15/24

.....

2,248

2,229

L1717347.UP.FTS.B,

10.59%,

9/15/24

....

3,735

3,704

L1716025.UP.FTS.B,

10.69%,

9/15/24

....

3,766

3,736

L1715704.UP.FTS.B,

11.53%,

9/15/24

....

11,332

11,244

L1717926.UP.FTS.B,

11.94%,

9/15/24

....

3,758

3,728

L1716380.UP.FTS.B,

13.61%,

9/15/24

....

1,522

1,511

L1717607.UP.FTS.B,

13.74%,

9/15/24

....

7,616

7,557

FW1715222.UP.FTS.B,

13.81%,

9/15/24

..

3,047

3,024

L1716238.UP.FTS.B,

14.13%,

9/15/24

....

3,627

3,589

L1716455.UP.FTS.B,

14.23%,

9/15/24

....

1,275

1,265

L1714869.UP.FTS.B,

15.65%,

9/15/24

....

9,596

9,491

FW1714958.UP.FTS.B,

16.26%,

9/15/24

..

3,578

3,517

L1715589.UP.FTS.B,

16.64%,

9/15/24

....

11,542

11,439

L1718940.UP.FTS.B,

16.78%,

9/15/24

....

6,546

317

L1716811.UP.FTS.B,

16.92%,

9/15/24

....

1,214

1,146

L1716828.UP.FTS.B,

17.26%,

9/15/24

....

2,313

2,293

L1716662.UP.FTS.B,

18.68%,

9/15/24

....

771

764

L1715893.UP.FTS.B,

19.55%,

9/15/24

....

2,353

2,329

L1714703.UP.FTS.B,

19.72%,

9/15/24

....

10,887

10,791

L1715955.UP.FTS.B,

21.3%,

9/15/24

....

8,733

239

L1716921.UP.FTS.B,

23.03%,

9/15/24

....

3,935

3,877

L1716020.UP.FTS.B,

23.35%,

9/15/24

....

1,417

1,404

L1715151.UP.FTS.B,

23.45%,

9/15/24

....

1,591

1,568

L1712382.UP.FTS.B,

23.73%,

9/15/24

....

9,734

9,578

L1712895.UP.FTS.B,

24.25%,

9/15/24

....

6,630

6,545

L1715219.UP.FTS.B,

24.66%,

9/15/24

....

7,910

1,196

L1717684.UP.FTS.B,

25.05%,

9/15/24

....

1,877

1,852

FW1717945.UP.FTS.B,

25.32%,

9/15/24

..

5,071

5,005

FW1717862.UP.FTS.B,

25.93%,

9/15/24

..

1,570

1,548

FW1717416.UP.FTS.B,

27%,

9/15/24

....

2,548

2,515

FW1714926.UP.FTS.B,

28.33%,

9/15/24

..

3,997

3,946

FW1717064.UP.FTS.B,

29.03%,

9/15/24

..

2,573

2,427

FW1715798.UP.FTS.B,

29.92%,

9/15/24

..

1,125

1,110

L1885954.UP.FTS.B,

10.47%,

10/20/24

...

3,892

3,863

L1886653.UP.FTS.B,

12.11%,

10/20/24

...

1,665

441

L1884096.UP.FTS.B,

13.31%,

10/20/24

...

5,486

5,448

L1886505.UP.FTS.B,

13.79%,

10/20/24

...

787

780

L1886677.UP.FTS.B,

13.95%,

10/20/24

...

2,515

2,480

L1888623.UP.FTS.B,

13.96%,

10/20/24

...

2,362

2,346

L1887864.UP.FTS.B,

14.09%,

10/20/24

...

1,575

1,565

L1885127.UP.FTS.B,

15.93%,

10/20/24

...

3,962

3,929

L1887716.UP.FTS.B,

16.64%,

10/20/24

...

3,177

3,150

L1887487.UP.FTS.B,

17.44%,

10/20/24

...

2,146

2,128

L1887264.UP.FTS.B,

18.46%,

10/20/24

...

4,113

3,891

L1888732.UP.FTS.B,

18.47%,

10/20/24

...

3,350

943

L1885599.UP.FTS.B,

18.65%,

10/20/24

...

799

793

L1886773.UP.FTS.B,

18.69%,

10/20/24

...

3,063

3,033

L1888679.UP.FTS.B,

19.37%,

10/20/24

...

8,409

8,340

L1883194.UP.FTS.B,

19.58%,

10/20/24

...

1,964

67

L1885749.UP.FTS.B,

20.4%,

10/20/24

....

2,810

2,787

L1884376.UP.FTS.B,

20.79%,

10/20/24

...

14,883

14,066

L1889126.UP.FTS.B,

20.94%,

10/20/24

...

8,414

8,314

FW1885604.UP.FTS.B,

21.27%,

10/20/24

.

24,658

24,353

L1885440.UP.FTS.B,

22.25%,

10/20/24

...

808

801

L1889255.UP.FTS.B,

22.61%,

10/20/24

...

3,558

3,517

FW1885004.UP.FTS.B,

23.56%,

10/20/24

.

7,641

7,222

FW1887038.UP.FTS.B,

25.36%,

10/20/24

.

2,038

2,014

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW1885149.UP.FTS.B,

25.87%,

10/20/24

.

$

2,337

$

2,298

FW1886233.UP.FTS.B,

25.87%,

10/20/24

.

1,796

21

FW1886997.UP.FTS.B,

26.23%,

10/20/24

.

979

947

FW1885395.UP.FTS.B,

26.24%,

10/20/24

.

2,452

2,423

FW1884875.UP.FTS.B,

26.98%,

10/20/24

.

1,514

1,431

FW1885381.UP.FTS.B,

27.55%,

10/20/24

.

7,038

6,956

FW1880410.UP.FTS.B,

27.93%,

10/20/24

.

3,284

3,247

FW1886414.UP.FTS.B,

28.39%,

10/20/24

.

1,647

1,626

FW1885095.UP.FTS.B,

28.6%,

10/20/24

..

4,064

4,015

FW1889076.UP.FTS.B,

30.32%,

10/20/24

.

2,911

2,876

L2037773.UP.FTS.B,

5.25%,

11/15/24

....

6,614

6,556

L2046679.UP.FTS.B,

6.86%,

11/15/24

....

7,949

7,884

L2039391.UP.FTS.B,

7.16%,

11/15/24

....

1,194

1,184

L2047798.UP.FTS.B,

7.62%,

11/15/24

....

3,984

3,950

L2049330.UP.FTS.B,

8.87%,

11/15/24

....

7,982

7,914

L2047834.UP.FTS.B,

9.02%,

11/15/24

....

2,556

2,534

L2047596.UP.FTS.B,

10.13%,

11/15/24

...

9,313

9,233

L2048001.UP.FTS.B,

10.35%,

11/15/24

...

4,017

3,982

L2047620.UP.FTS.B,

10.51%,

11/15/24

...

2,417

2,396

L2048059.UP.FTS.B,

10.92%,

11/15/24

...

4,345

4,308

L2047919.UP.FTS.B,

10.97%,

11/15/24

...

13,682

13,566

L2047173.UP.FTS.B,

11.49%,

11/15/24

...

4,808

4,766

L2047014.UP.FTS.B,

11.93%,

11/15/24

...

8,001

7,930

L2046828.UP.FTS.B,

12.17%,

11/15/24

...

4,038

4,004

L2049398.UP.FTS.B,

12.72%,

11/15/24

...

1,510

1,496

L2048381.UP.FTS.B,

12.98%,

11/15/24

...

3,023

2,995

L2047190.UP.FTS.B,

13.12%,

11/15/24

...

3,239

3,211

L2048784.UP.FTS.B,

13.49%,

11/15/24

...

2,432

2,411

L2047467.UP.FTS.B,

14.6%,

11/15/24

....

6,518

6,436

L2048717.UP.FTS.B,

14.61%,

11/15/24

...

666

658

FW2048031.UP.FTS.B,

14.7%,

11/15/24

..

6,102

6,049

L2048654.UP.FTS.B,

15.34%,

11/15/24

...

4,456

208

L2047716.UP.FTS.B,

15.83%,

11/15/24

...

7,136

7,053

L2049293.UP.FTS.B,

16.54%,

11/15/24

...

4,089

4,042

L2049093.UP.FTS.B,

16.57%,

11/15/24

...

396

390

FW2047086.UP.FTS.B,

16.6%,

11/15/24

..

3,271

3,234

L2048520.UP.FTS.B,

16.63%,

11/15/24

...

16,358

16,174

L2047759.UP.FTS.B,

17.02%,

11/15/24

...

901

891

L2032354.UP.FTS.B,

18.46%,

11/15/24

...

1,397

1,381

L2049049.UP.FTS.B,

18.57%,

11/15/24

...

5,756

5,691

L2048900.UP.FTS.B,

18.76%,

11/15/24

...

1,645

1,627

L2047756.UP.FTS.B,

18.93%,

11/15/24

...

4,938

4,883

FW2047783.UP.FTS.B,

19.18%,

11/15/24

.

796

784

L2048756.UP.FTS.B,

19.75%,

11/15/24

...

4,949

4,893

L2048019.UP.FTS.B,

19.76%,

11/15/24

...

1,402

1,386

FW2047227.UP.FTS.B,

19.97%,

11/15/24

.

1,155

1,142

FW2047688.UP.FTS.B,

20.13%,

11/15/24

.

4,954

4,879

L2047831.UP.FTS.B,

20.33%,

11/15/24

...

5,519

5,205

L2048741.UP.FTS.B,

20.49%,

11/15/24

...

2,893

2,860

FW2049144.UP.FTS.B,

20.94%,

11/15/24

.

3,310

3,260

L2047733.UP.FTS.B,

21.64%,

11/15/24

...

2,901

2,857

L2046773.UP.FTS.B,

21.75%,

11/15/24

...

1,327

1,307

L2048157.UP.FTS.B,

21.93%,

11/15/24

...

2,489

2,451

L2048597.UP.FTS.B,

22.48%,

11/15/24

...

4,154

4,091

FW2047937.UP.FTS.B,

22.8%,

11/15/24

..

3,703

107

L2047934.UP.FTS.B,

23.08%,

11/15/24

...

3,356

3,302

L2047942.UP.FTS.B,

23.17%,

11/15/24

...

3,249

3,196

L2047573.UP.FTS.B,

23.3%,

11/15/24

....

16,612

1,203

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

113

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

FW2048331.UP.FTS.B,

23.57%,

11/15/24

.

$

2,486

$

2,448

L2048994.UP.FTS.B,

24.16%,

11/15/24

...

1,919

1,890

FW2046847.UP.FTS.B,

24.26%,

11/15/24

.

5,706

409

FW2047649.UP.FTS.B,

24.82%,

11/15/24

.

1,923

139

FW2048854.UP.FTS.B,

25.05%,

11/15/24

.

1,631

1,605

FW2048680.UP.FTS.B,

25.7%,

11/15/24

..

1,720

1,620

FW2048332.UP.FTS.B,

26.99%,

11/15/24

.

1,681

1,656

FW2048559.UP.FTS.B,

27.21%,

11/15/24

.

429

63

FW2047309.UP.FTS.B,

27.44%,

11/15/24

.

5,047

4,970

FW2047561.UP.FTS.B,

27.77%,

11/15/24

.

5,564

5,474

FW2048616.UP.FTS.B,

27.91%,

11/15/24

.

2,891

207

FW2019057.UP.FTS.B,

28.27%,

11/15/24

.

1,928

138

L2096245.UP.FTS.B,

7.08%,

11/22/24

....

5,933

5,886

L2094775.UP.FTS.B,

7.57%,

11/22/24

....

3,983

3,953

L2095323.UP.FTS.B,

10.22%,

11/22/24

...

1,205

1,196

L2096413.UP.FTS.B,

11.37%,

11/22/24

...

16,115

15,997

L2094380.UP.FTS.B,

14.25%,

11/22/24

...

3,844

3,804

L2096824.UP.FTS.B,

14.34%,

11/22/24

...

6,502

6,444

L2095963.UP.FTS.B,

14.96%,

11/22/24

...

1,626

1,615

L2096695.UP.FTS.B,

15.09%,

11/22/24

...

1,629

1,614

L2094827.UP.FTS.B,

15.86%,

11/22/24

...

5,713

5,674

FW2095095.UP.FTS.B,

15.88%,

11/22/24

.

1,979

1,960

FW2095845.UP.FTS.B,

15.91%,

11/22/24

.

4,490

4,450

L2095754.UP.FTS.B,

16.91%,

11/22/24

...

4,075

4,038

L2094333.UP.FTS.B,

17%,

11/22/24

.....

10,967

10,363

FW2096312.UP.FTS.B,

17.78%,

11/22/24

.

3,447

3,416

FW2092356.UP.FTS.B,

17.97%,

11/22/24

.

3,276

237

L2094961.UP.FTS.B,

18.66%,

11/22/24

...

823

815

FW2091484.UP.FTS.B,

19.01%,

11/22/24

.

4,131

4,090

FW2094863.UP.FTS.B,

19.11%,

11/22/24

.

823

816

FW2094110.UP.FTS.B,

19.91%,

11/22/24

.

825

818

L2095891.UP.FTS.B,

20.05%,

11/22/24

...

2,971

2,809

FW2094102.UP.FTS.B,

22.44%,

11/22/24

.

1,010

63

FW2092331.UP.FTS.B,

23.1%,

11/22/24

..

3,051

2,885

FW2095619.UP.FTS.B,

23.57%,

11/22/24

.

4,495

694

FW2094197.UP.FTS.B,

24.43%,

11/22/24

.

1,671

1,651

FW2096042.UP.FTS.B,

25.59%,

11/22/24

.

2,924

2,764

FW2095533.UP.FTS.B,

26.09%,

11/22/24

.

3,689

3,645

FW2094441.UP.FTS.B,

27.88%,

11/22/24

.

1,398

52

FW2095652.UP.FTS.B,

28.05%,

11/22/24

.

8,425

8,325

FW2095709.UP.FTS.B,

28.64%,

11/22/24

.

1,962

138

FW2096872.UP.FTS.B,

28.81%,

11/22/24

.

7,885

7,772

FW2094168.UP.FTS.B,

28.88%,

11/22/24

.

2,236

2,207

L2292994.UP.FTS.B,

5.09%,

12/21/24

....

2,452

2,433

L2294913.UP.FTS.B,

5.24%,

12/21/24

....

1,799

1,785

L2294150.UP.FTS.B,

5.26%,

12/21/24

....

102

102

FW2294665.UP.FTS.B,

5.75%,

12/21/24

..

1,637

1,625

L2295367.UP.FTS.B,

5.78%,

12/21/24

....

1,801

1,788

L2295111.UP.FTS.B,

5.95%,

12/21/24

....

3,810

3,593

FW2293946.UP.FTS.B,

6.19%,

12/21/24

..

6,545

6,497

FW2294211.UP.FTS.B,

6.31%,

12/21/24

..

6,064

6,019

L2295100.UP.FTS.B,

7.19%,

12/21/24

....

900

893

FW2294439.UP.FTS.B,

7.72%,

12/21/24

..

8,731

8,663

L2294814.UP.FTS.B,

7.77%,

12/21/24

....

3,701

3,673

L2293479.UP.FTS.B,

7.9%,

12/21/24

....

823

817

L2294062.UP.FTS.B,

8.01%,

12/21/24

....

6,797

946

L2295041.UP.FTS.B,

8.37%,

12/21/24

....

850

802

L2294775.UP.FTS.B,

8.85%,

12/21/24

....

2,476

2,458

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L2293437.UP.FTS.B,

11.78%,

12/21/24

...

$

4,222

$

4,188

L2295532.UP.FTS.B,

11.83%,

12/21/24

...

9,078

1,298

L2294851.UP.FTS.B,

13.12%,

12/21/24

...

1,672

1,659

L2294095.UP.FTS.B,

13.3%,

12/21/24

....

1,002

995

L2294977.UP.FTS.B,

13.32%,

12/21/24

...

4,365

4,330

L2296216.UP.FTS.B,

13.69%,

12/21/24

...

2,983

2,960

L2294949.UP.FTS.B,

13.95%,

12/21/24

...

3,345

3,312

FW2292520.UP.FTS.B,

14.69%,

12/21/24

.

838

830

L2295222.UP.FTS.B,

15.07%,

12/21/24

...

2,935

2,906

FW2295530.UP.FTS.B,

15.84%,

12/21/24

.

5,399

5,344

L2294127.UP.FTS.B,

16.18%,

12/21/24

...

4,205

4,163

L2293039.UP.FTS.B,

16.32%,

12/21/24

...

3,365

3,332

FW2296401.UP.FTS.B,

16.73%,

12/21/24

.

9,546

694

L2293609.UP.FTS.B,

16.79%,

12/21/24

...

4,603

4,556

L2294084.UP.FTS.B,

17.86%,

12/21/24

...

1,267

1,254

L2295179.UP.FTS.B,

18.86%,

12/21/24

...

2,027

49

L2294351.UP.FTS.B,

19.21%,

12/21/24

...

2,287

2,265

L2285455.UP.FTS.B,

19.28%,

12/21/24

...

1,695

1,678

L2295385.UP.FTS.B,

19.32%,

12/21/24

...

1,695

1,679

L2293350.UP.FTS.B,

19.62%,

12/21/24

...

1,141

1,078

L2295474.UP.FTS.B,

19.79%,

12/21/24

...

3,393

3,360

FW2295741.UP.FTS.B,

20.38%,

12/21/24

.

849

841

L2294199.UP.FTS.B,

20.47%,

12/21/24

...

2,549

2,516

FW2296126.UP.FTS.B,

21.1%,

12/21/24

..

851

843

L2295046.UP.FTS.B,

21.11%,

12/21/24

...

4,254

4,199

L2296169.UP.FTS.B,

21.4%,

12/21/24

....

4,198

4,154

L2295918.UP.FTS.B,

22.06%,

12/21/24

...

15,929

974

L2295180.UP.FTS.B,

22.24%,

12/21/24

...

3,839

3,789

FW2294007.UP.FTS.B,

24.91%,

12/21/24

.

1,289

1,271

FW2295790.UP.FTS.B,

25.57%,

12/21/24

.

1,891

1,866

FW2293631.UP.FTS.B,

26.49%,

12/21/24

.

17,222

17,000

FW2295751.UP.FTS.B,

26.57%,

12/21/24

.

4,306

4,251

FW2294187.UP.FTS.B,

27.27%,

12/21/24

.

4,638

4,578

FW2294163.UP.FTS.B,

27.62%,

12/21/24

.

979

965

FW2295797.UP.FTS.B,

28.21%,

12/21/24

.

2,715

804

FW2294687.UP.FTS.B,

28.91%,

12/21/24

.

866

855

FW2295991.UP.FTS.B,

29.39%,

12/21/24

.

3,982

3,938

L2296625.UP.FTS.B,

5.45%,

12/22/24

....

4,090

4,061

L2297554.UP.FTS.B,

5.64%,

12/22/24

....

4,501

4,469

L2296988.UP.FTS.B,

5.71%,

12/22/24

....

5,730

5,689

FW2297899.UP.FTS.B,

6.12%,

12/22/24

..

741

735

L2297459.UP.FTS.B,

6.46%,

12/22/24

....

4,095

4,066

FW2297489.UP.FTS.B,

6.61%,

12/22/24

..

616

610

L2297183.UP.FTS.B,

6.74%,

12/22/24

....

8,209

8,151

L2299060.UP.FTS.B,

6.81%,

12/22/24

....

821

815

L2297555.UP.FTS.B,

6.86%,

12/22/24

....

3,284

3,262

FW2298048.UP.FTS.B,

7.04%,

12/22/24

..

11,502

11,421

L2297930.UP.FTS.B,

7.09%,

12/22/24

....

2,865

2,845

L2299053.UP.FTS.B,

7.5%,

12/22/24

....

4,935

4,900

L2298344.UP.FTS.B,

7.65%,

12/22/24

....

6,584

6,537

FW2300636.UP.FTS.B,

7.72%,

12/22/24

..

2,058

2,043

L2298178.UP.FTS.B,

7.89%,

12/22/24

....

4,940

4,905

FW2298854.UP.FTS.B,

8.03%,

12/22/24

..

2,059

2,045

L2298428.UP.FTS.B,

8.15%,

12/22/24

....

5,275

5,237

L2300130.UP.FTS.B,

8.16%,

12/22/24

....

1,236

1,227

L2297858.UP.FTS.B,

8.61%,

12/22/24

....

4,275

4,037

FW2298230.UP.FTS.B,

8.66%,

12/22/24

..

825

819

L2298269.UP.FTS.B,

8.91%,

12/22/24

....

16,512

16,396

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

114

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

FW2300410.UP.FTS.B,

8.97%,

12/22/24

..

$

4,365

$

4,320

FW2299098.UP.FTS.B,

9.21%,

12/22/24

..

1,233

1,224

FW2299147.UP.FTS.B,

9.27%,

12/22/24

..

3,407

3,217

L2294325.UP.FTS.B,

9.41%,

12/22/24

....

4,944

4,909

L2297452.UP.FTS.B,

9.57%,

12/22/24

....

1,711

1,616

L2296700.UP.FTS.B,

9.69%,

12/22/24

....

4,137

4,108

L2298627.UP.FTS.B,

10.13%,

12/22/24

...

4,141

4,113

FW2299172.UP.FTS.B,

10.19%,

12/22/24

.

1,669

144

L2298051.UP.FTS.B,

10.22%,

12/22/24

...

4,132

4,103

L2298036.UP.FTS.B,

10.46%,

12/22/24

...

5,803

5,763

L2296736.UP.FTS.B,

10.73%,

12/22/24

...

2,887

2,867

FW2298308.UP.FTS.B,

10.89%,

12/22/24

.

205

203

L2297100.UP.FTS.B,

11.43%,

12/22/24

...

1,719

1,626

L2298636.UP.FTS.B,

11.78%,

12/22/24

...

2,911

2,892

FW2295900.UP.FTS.B,

12.11%,

12/22/24

.

3,330

3,308

L2289317.UP.FTS.B,

12.5%,

12/22/24

....

5,831

5,792

L2297999.UP.FTS.B,

13.52%,

12/22/24

...

835

830

L2296920.UP.FTS.B,

13.62%,

12/22/24

...

5,858

5,818

L2298784.UP.FTS.B,

14.44%,

12/22/24

...

8,374

8,299

L2298193.UP.FTS.B,

14.62%,

12/22/24

...

3,351

3,321

L2297574.UP.FTS.B,

15.1%,

12/22/24

....

12,582

12,469

L2270088.UP.FTS.B,

15.26%,

12/22/24

...

4,573

4,530

FW2297351.UP.FTS.B,

16.06%,

12/22/24

.

2,102

2,083

L2299210.UP.FTS.B,

16.21%,

12/22/24

...

922

916

L2297197.UP.FTS.B,

17.21%,

12/22/24

...

1,733

1,639

FW2299381.UP.FTS.B,

17.29%,

12/22/24

.

2,535

2,510

L2300066.UP.FTS.B,

17.65%,

12/22/24

...

1,688

1,673

L2297395.UP.FTS.B,

17.85%,

12/22/24

...

8,697

8,617

FW2298127.UP.FTS.B,

18.19%,

12/22/24

.

1,690

1,675

L2300339.UP.FTS.B,

18.46%,

12/22/24

...

846

838

L2298393.UP.FTS.B,

19.2%,

12/22/24

....

6,988

6,609

L2286362.UP.FTS.B,

19.22%,

12/22/24

...

6,781

6,712

FW2298373.UP.FTS.B,

19.34%,

12/22/24

.

2,542

2,520

L2299094.UP.FTS.B,

19.48%,

12/22/24

...

1,007

997

FW2299910.UP.FTS.B,

19.59%,

12/22/24

.

4,219

4,181

FW2296618.UP.FTS.B,

19.77%,

12/22/24

.

843

835

L2298513.UP.FTS.B,

20.02%,

12/22/24

...

14,744

14,570

L2296192.UP.FTS.B,

20.3%,

12/22/24

....

815

807

L2296465.UP.FTS.B,

21.24%,

12/22/24

...

4,256

4,206

FW2300328.UP.FTS.B,

21.6%,

12/22/24

..

16,911

16,759

L2297511.UP.FTS.B,

21.76%,

12/22/24

...

8,521

8,422

FW2299932.UP.FTS.B,

21.85%,

12/22/24

.

9,375

9,295

FW2300114.UP.FTS.B,

21.91%,

12/22/24

.

4,262

4,212

L2300171.UP.FTS.B,

22.14%,

12/22/24

...

1,677

1,661

L2296425.UP.FTS.B,

22.43%,

12/22/24

...

6,401

6,326

FW2299443.UP.FTS.B,

22.44%,

12/22/24

.

17,904

5,244

L2299865.UP.FTS.B,

22.56%,

12/22/24

...

1,299

1,282

FW2299691.UP.FTS.B,

22.8%,

12/22/24

..

1,708

1,689

L2296417.UP.FTS.B,

22.8%,

12/22/24

....

9,139

9,061

L2296476.UP.FTS.B,

22.83%,

12/22/24

...

5,638

5,572

L2299850.UP.FTS.B,

23.44%,

12/22/24

...

4,277

4,241

L2298515.UP.FTS.B,

23.69%,

12/22/24

...

8,559

8,460

L2299432.UP.FTS.B,

24.17%,

12/22/24

...

2,913

2,880

FW2296846.UP.FTS.B,

24.39%,

12/22/24

.

1,714

1,695

FW2299096.UP.FTS.B,

24.52%,

12/22/24

.

1,458

1,441

FW2296692.UP.FTS.B,

24.93%,

12/22/24

.

1,287

1,273

FW2296914.UP.FTS.B,

26.15%,

12/22/24

.

947

936

FW2299450.UP.FTS.B,

27.52%,

12/22/24

.

3,006

2,844

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW2296909.UP.FTS.B,

29.46%,

12/22/24

.

$

6,105

$

6,035

FW2296124.UP.FTS.B,

30.3%,

12/22/24

..

4,447

4,208

L2426414.UP.FTS.B,

5.26%,

1/13/25

....

21,053

20,898

FW2426096.UP.FTS.B,

5.45%,

1/13/25

...

2,111

2,095

L2424056.UP.FTS.B,

5.61%,

1/13/25

....

3,378

3,354

L2424903.UP.FTS.B,

6.05%,

1/13/25

....

2,705

2,686

L2423394.UP.FTS.B,

6.27%,

1/13/25

....

8,458

8,397

L2427013.UP.FTS.B,

6.64%,

1/13/25

....

3,705

3,678

L2394315.UP.FTS.B,

7.03%,

1/13/25

....

4,212

4,182

L2425497.UP.FTS.B,

7.24%,

1/13/25

....

16,942

16,820

L2425329.UP.FTS.B,

7.75%,

1/13/25

....

4,505

4,469

L2427993.UP.FTS.B,

7.96%,

1/13/25

....

8,525

8,459

L2425262.UP.FTS.B,

8.32%,

1/13/25

....

5,524

5,480

L2425211.UP.FTS.B,

8.5%,

1/13/25

......

5,951

5,905

L2426591.UP.FTS.B,

9.03%,

1/13/25

....

1,204

1,193

L2424171.UP.FTS.B,

9.46%,

1/13/25

....

8,519

8,454

L2428185.UP.FTS.B,

9.7%,

1/13/25

.....

8,524

8,458

FW2428576.UP.FTS.B,

10.33%,

1/13/25

..

8,536

8,471

L2423475.UP.FTS.B,

10.43%,

1/13/25

....

2,988

2,965

FW2423807.UP.FTS.B,

10.5%,

1/13/25

...

1,708

1,695

L2427021.UP.FTS.B,

11.18%,

1/13/25

....

4,276

4,243

FW2428510.UP.FTS.B,

11.44%,

1/13/25

..

8,583

8,514

L2398504.UP.FTS.B,

11.71%,

1/13/25

....

856

849

L2428568.UP.FTS.B,

12.86%,

1/13/25

....

6,008

5,961

L2405416.UP.FTS.B,

12.97%,

1/13/25

....

3,238

3,202

L2428590.UP.FTS.B,

12.98%,

1/13/25

....

3,434

3,407

FW2419292.UP.FTS.B,

13.72%,

1/13/25

..

1,720

1,706

L2423989.UP.FTS.B,

13.92%,

1/13/25

....

2,667

2,636

L2426394.UP.FTS.B,

14.04%,

1/13/25

....

6,191

5,849

FW2423167.UP.FTS.B,

15.7%,

1/13/25

...

3,013

2,978

L2425994.UP.FTS.B,

15.97%,

1/13/25

....

864

854

L2426530.UP.FTS.B,

15.97%,

1/13/25

....

3,456

3,416

L2424008.UP.FTS.B,

18.11%,

1/13/25

....

4,338

4,289

FW2426314.UP.FTS.B,

18.24%,

1/13/25

..

2,081

2,055

L2416454.UP.FTS.B,

20%,

1/13/25

......

5,027

4,966

L2426497.UP.FTS.B,

20.53%,

1/13/25

....

5,761

5,693

L2425046.UP.FTS.B,

20.89%,

1/13/25

....

3,490

3,439

L2424244.UP.FTS.B,

21.43%,

1/13/25

....

6,100

6,010

L2423182.UP.FTS.B,

21.65%,

1/13/25

....

1,747

1,722

L2427236.UP.FTS.B,

21.91%,

1/13/25

....

1,935

540

L2416312.UP.FTS.B,

22.24%,

1/13/25

....

2,187

2,156

L2427527.UP.FTS.B,

22.56%,

1/13/25

....

1,328

1,310

FW2423092.UP.FTS.B,

22.82%,

1/13/25

..

8,232

8,141

FW2424871.UP.FTS.B,

23.25%,

1/13/25

..

3,226

3,164

L2425291.UP.FTS.B,

23.25%,

1/13/25

....

5,259

5,182

L2427759.UP.FTS.B,

23.56%,

1/13/25

....

4,390

4,326

FW2425143.UP.FTS.B,

23.59%,

1/13/25

..

973

959

FW2428770.UP.FTS.B,

24.12%,

1/13/25

..

4,857

4,787

FW2426646.UP.FTS.B,

25.03%,

1/13/25

..

2,638

2,600

FW2426733.UP.FTS.B,

25.56%,

1/13/25

..

1,323

1,304

FW2422846.UP.FTS.B,

26.62%,

1/13/25

..

5,767

5,681

FW2423280.UP.FTS.B,

26.88%,

1/13/25

..

5,737

5,655

FW2423658.UP.FTS.B,

27.05%,

1/13/25

..

2,080

2,046

FW2426742.UP.FTS.B,

27.82%,

1/13/25

..

884

871

FW2423178.UP.FTS.B,

28.33%,

1/13/25

..

1,415

1,395

FW2423306.UP.FTS.B,

29.18%,

1/13/25

..

5,919

5,835

L2434116.UP.FTS.B,

4.81%,

1/14/25

.....

5,479

5,440

L2418575.UP.FTS.B,

5.02%,

1/14/25

....

33,700

33,454

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

115

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

FW2435057.UP.FTS.B,

5.13%,

1/14/25

...

$

2,782

$

2,762

L2430348.UP.FTS.B,

5.31%,

1/14/25

....

5,402

5,363

L2434822.UP.FTS.B,

5.8%,

1/14/25

.....

4,478

4,446

L2435457.UP.FTS.B,

5.9%,

1/14/25

.....

2,113

2,098

L2421481.UP.FTS.B,

5.96%,

1/14/25

....

2,113

2,098

FW2429485.UP.FTS.B,

6.09%,

1/14/25

...

14,328

14,208

L2428662.UP.FTS.B,

6.19%,

1/14/25

....

1,691

1,679

L2428904.UP.FTS.B,

6.39%,

1/14/25

....

4,230

4,200

L2434626.UP.FTS.B,

6.42%,

1/14/25

....

14,416

14,311

FW2432338.UP.FTS.B,

6.53%,

1/14/25

...

10,149

10,077

L2430005.UP.FTS.B,

6.62%,

1/14/25

....

1,693

1,681

L2435421.UP.FTS.B,

6.73%,

1/14/25

....

5,080

5,044

L2433602.UP.FTS.B,

6.82%,

1/14/25

....

4,222

4,191

L2431355.UP.FTS.B,

6.97%,

1/14/25

....

1,694

1,682

FW2433653.UP.FTS.B,

7.07%,

1/14/25

...

7,203

7,152

L2432222.UP.FTS.B,

7.3%,

1/14/25

.....

4,239

4,206

L2432554.UP.FTS.B,

7.39%,

1/14/25

....

13,568

13,463

L2435059.UP.FTS.B,

7.82%,

1/14/25

....

2,245

2,225

FW2428997.UP.FTS.B,

8.05%,

1/14/25

...

2,855

2,832

L2429588.UP.FTS.B,

8.57%,

1/14/25

....

18,705

18,562

FW2428881.UP.FTS.B,

8.87%,

1/14/25

...

8,508

8,443

FW2433698.UP.FTS.B,

9.22%,

1/14/25

...

852

845

FW2430664.UP.FTS.B,

9.41%,

1/14/25

...

4,259

4,227

L2429304.UP.FTS.B,

9.92%,

1/14/25

....

9,381

9,310

FW2430961.UP.FTS.B,

10.21%,

1/14/25

..

2,645

2,626

L2435242.UP.FTS.B,

10.25%,

1/14/25

....

2,556

2,537

L2434391.UP.FTS.B,

10.57%,

1/14/25

....

11,382

11,274

L2432996.UP.FTS.B,

11.65%,

1/14/25

....

6,848

6,795

L2430447.UP.FTS.B,

12.57%,

1/14/25

....

5,210

5,150

L2432213.UP.FTS.B,

12.69%,

1/14/25

....

2,660

2,639

FW2428995.UP.FTS.B,

13.01%,

1/14/25

..

3,434

3,408

L2430864.UP.FTS.B,

13.6%,

1/14/25

....

12,035

11,943

FW2434406.UP.FTS.B,

13.8%,

1/14/25

...

1,290

1,280

FW2434209.UP.FTS.B,

14.25%,

1/14/25

..

8,658

8,557

L2431958.UP.FTS.B,

14.35%,

1/14/25

....

3,463

3,423

L2429660.UP.FTS.B,

15.34%,

1/14/25

....

863

853

L2431105.UP.FTS.B,

16.43%,

1/14/25

....

1,729

1,710

L2433771.UP.FTS.B,

16.58%,

1/14/25

....

8,611

8,513

L2432759.UP.FTS.B,

18.08%,

1/14/25

....

1,215

1,201

L2435184.UP.FTS.B,

18.26%,

1/14/25

....

8,679

8,584

L2430396.UP.FTS.B,

18.27%,

1/14/25

....

5,642

5,580

L2435071.UP.FTS.B,

18.87%,

1/14/25

....

4,350

4,300

FW2435471.UP.FTS.B,

19.27%,

1/14/25

..

1,739

1,720

L2431902.UP.FTS.B,

19.35%,

1/14/25

....

2,175

2,151

L2406011.UP.FTS.B,

20.17%,

1/14/25

....

4,792

4,740

L2429867.UP.FTS.B,

21.01%,

1/14/25

....

8,751

8,653

L2432621.UP.FTS.B,

21.66%,

1/14/25

....

3,469

3,418

L2429273.UP.FTS.B,

22.43%,

1/14/25

....

875

863

L2435303.UP.FTS.B,

22.6%,

1/14/25

....

7,003

6,903

L2435145.UP.FTS.B,

23.16%,

1/14/25

....

4,381

4,319

L2435061.UP.FTS.B,

23.28%,

1/14/25

....

1,475

1,454

L2428993.UP.FTS.B,

23.35%,

1/14/25

....

1,470

426

L2430162.UP.FTS.B,

23.44%,

1/14/25

....

4,384

4,337

FW2435279.UP.FTS.B,

23.88%,

1/14/25

..

2,817

2,777

FW2431859.UP.FTS.B,

24.16%,

1/14/25

..

4,390

4,328

FW2430909.UP.FTS.B,

27.26%,

1/14/25

..

2,180

2,148

L2435114.UP.FTS.B,

28.47%,

1/14/25

....

11,857

11,693

FW2417863.UP.FTS.B,

29.02%,

1/14/25

..

1,458

426

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L2437836.UP.FTS.B,

5.32%,

1/18/25

....

$

8,440

$

8,379

L2439151.UP.FTS.B,

5.81%,

1/18/25

....

3,387

3,360

L2437139.UP.FTS.B,

5.87%,

1/18/25

....

845

839

L2436421.UP.FTS.B,

5.98%,

1/18/25

....

5,898

5,855

L2436422.UP.FTS.B,

6.2%,

1/18/25

.....

7,611

7,556

L2439219.UP.FTS.B,

6.74%,

1/18/25

....

1,695

1,684

FW2437692.UP.FTS.B,

6.91%,

1/18/25

...

5,082

5,046

L2439326.UP.FTS.B,

6.99%,

1/18/25

....

4,497

1,141

L2437624.UP.FTS.B,

7.39%,

1/18/25

....

2,968

2,947

L2439324.UP.FTS.B,

8.14%,

1/18/25

....

4,247

4,215

L2437051.UP.FTS.B,

8.16%,

1/18/25

....

5,097

5,058

L2436879.UP.FTS.B,

8.26%,

1/18/25

....

1,699

1,686

L2436647.UP.FTS.B,

8.52%,

1/18/25

....

2,632

2,611

FW2439168.UP.FTS.B,

8.76%,

1/18/25

...

4,249

4,217

L2439081.UP.FTS.B,

9.27%,

1/18/25

....

8,516

8,451

L2437607.UP.FTS.B,

9.5%,

1/18/25

.....

2,984

2,953

L2436781.UP.FTS.B,

9.67%,

1/18/25

....

8,523

8,458

L2438341.UP.FTS.B,

10.14%,

1/18/25

....

1,280

1,270

L2437491.UP.FTS.B,

10.26%,

1/18/25

....

1,639

1,626

L2436150.UP.FTS.B,

10.72%,

1/18/25

....

3,844

3,814

FW2437841.UP.FTS.B,

10.83%,

1/18/25

..

1,709

1,696

L2437166.UP.FTS.B,

11.13%,

1/18/25

....

2,565

2,546

L2438010.UP.FTS.B,

11.18%,

1/18/25

....

600

594

L2406128.UP.FTS.B,

11.74%,

1/18/25

....

1,712

1,699

L2436162.UP.FTS.B,

11.76%,

1/18/25

....

8,559

8,493

FW2436511.UP.FTS.B,

13.11%,

1/18/25

..

3,435

3,408

FW2438258.UP.FTS.B,

13.5%,

1/18/25

...

2,574

2,554

L2436629.UP.FTS.B,

13.84%,

1/18/25

....

1,032

1,024

L2436007.UP.FTS.B,

16.06%,

1/18/25

....

1,285

1,270

L2435690.UP.FTS.B,

16.27%,

1/18/25

....

30,255

30,022

FW2437446.UP.FTS.B,

16.7%,

1/18/25

...

7,108

6,715

FW2439200.UP.FTS.B,

18.01%,

1/18/25

..

1,735

1,716

L2438734.UP.FTS.B,

18.88%,

1/18/25

....

4,345

4,297

FW2436576.UP.FTS.B,

19.32%,

1/18/25

..

3,479

3,441

L2436966.UP.FTS.B,

19.94%,

1/18/25

....

2,710

2,560

L2436181.UP.FTS.B,

20.04%,

1/18/25

....

4,701

4,634

L2438042.UP.FTS.B,

20.46%,

1/18/25

....

1,373

384

L2435933.UP.FTS.B,

21.5%,

1/18/25

....

2,160

2,128

L2437623.UP.FTS.B,

21.63%,

1/18/25

....

2,594

2,556

L2436538.UP.FTS.B,

21.66%,

1/18/25

....

5,678

5,598

FW2435735.UP.FTS.B,

22.33%,

1/18/25

..

8,713

8,588

FW2436494.UP.FTS.B,

22.91%,

1/18/25

..

1,314

1,295

L2435694.UP.FTS.B,

23.43%,

1/18/25

....

1,224

1,207

L2438018.UP.FTS.B,

23.78%,

1/18/25

....

4,386

4,325

L2436892.UP.FTS.B,

24.08%,

1/18/25

....

3,687

3,635

FW2439251.UP.FTS.B,

24.63%,

1/18/25

..

4,042

3,985

FW2437239.UP.FTS.B,

25.2%,

1/18/25

...

2,773

2,732

FW2436263.UP.FTS.B,

29.06%,

1/18/25

..

4,429

4,366

FW2438353.UP.FTS.B,

29.22%,

1/18/25

..

1,855

1,828

L2607162.UP.FTS.B,

5.14%,

2/10/25

....

7,829

7,773

L2608076.UP.FTS.B,

6.4%,

2/10/25

.....

3,433

3,408

L2603419.UP.FTS.B,

6.97%,

2/10/25

....

6,114

6,074

L2608607.UP.FTS.B,

7.29%,

2/10/25

....

8,734

8,673

L2605970.UP.FTS.B,

8.23%,

2/10/25

....

5,074

5,039

L2605161.UP.FTS.B,

8.41%,

2/10/25

....

1,750

1,737

L2602588.UP.FTS.B,

8.74%,

2/10/25

....

8,696

8,626

L2604174.UP.FTS.B,

9.25%,

2/10/25

....

5,512

5,468

FW2603194.UP.FTS.B,

9.76%,

2/10/25

...

4,271

4,234

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

116

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2606577.UP.FTS.B,

9.95%,

2/10/25

....

$

5,266

$

5,225

FW2602705.UP.FTS.B,

10.63%,

2/10/25

..

2,624

2,604

FW2604002.UP.FTS.B,

11.31%,

2/10/25

..

30,439

30,176

FW2607521.UP.FTS.B,

11.42%,

2/10/25

..

1,691

1,676

L2607713.UP.FTS.B,

11.85%,

2/10/25

....

4,262

4,224

FW2604412.UP.FTS.B,

12.03%,

2/10/25

..

1,762

1,747

L2603571.UP.FTS.B,

13.11%,

2/10/25

....

1,300

1,289

L2604194.UP.FTS.B,

14.5%,

2/10/25

....

3,097

3,071

L2605323.UP.FTS.B,

14.99%,

2/10/25

....

885

874

L2607547.UP.FTS.B,

15.07%,

2/10/25

....

7,073

6,984

L2605799.UP.FTS.B,

15.28%,

2/10/25

....

4,429

4,374

L2605631.UP.FTS.B,

15.37%,

2/10/25

....

9,746

9,666

L2603338.UP.FTS.B,

15.54%,

2/10/25

....

13,732

13,543

L2607606.UP.FTS.B,

16.31%,

2/10/25

....

5,690

5,606

L2602759.UP.FTS.B,

17.08%,

2/10/25

....

11,499

11,354

FW2605911.UP.FTS.B,

17.81%,

2/10/25

..

4,448

4,393

L2607677.UP.FTS.B,

18.39%,

2/10/25

....

17,810

17,589

FW2606706.UP.FTS.B,

19.04%,

2/10/25

..

1,337

1,321

L2607508.UP.FTS.B,

19.36%,

2/10/25

....

8,926

8,816

FW2607831.UP.FTS.B,

19.55%,

2/10/25

..

892

881

L2602512.UP.FTS.B,

19.88%,

2/10/25

....

4,619

2,694

L2605312.UP.FTS.B,

20.16%,

2/10/25

....

4,465

4,410

FW2609221.UP.FTS.B,

20.97%,

2/10/25

..

1,763

1,737

L2606380.UP.FTS.B,

21.09%,

2/10/25

....

4,472

4,401

L2605050.UP.FTS.B,

21.65%,

2/10/25

....

1,634

1,604

FW2601103.UP.FTS.B,

22.38%,

2/10/25

..

896

885

L2604748.UP.FTS.B,

22.74%,

2/10/25

....

3,587

3,543

FW2607328.UP.FTS.B,

23.21%,

2/10/25

..

37,691

37,097

L2600924.UP.FTS.B,

23.41%,

2/10/25

....

15,349

15,107

FW2607955.UP.FTS.B,

23.75%,

2/10/25

..

3,413

3,359

FW2604902.UP.FTS.B,

24.34%,

2/10/25

..

1,083

1,066

FW2607727.UP.FTS.B,

24.64%,

2/10/25

..

1,079

1,062

FW2602040.UP.FTS.B,

24.72%,

2/10/25

..

4,137

4,072

FW2604398.UP.FTS.B,

25.04%,

2/10/25

..

900

886

FW2608085.UP.FTS.B,

25.38%,

2/10/25

..

1,934

286

FW2602438.UP.FTS.B,

25.48%,

2/10/25

..

4,339

4,268

FW2607797.UP.FTS.B,

28.06%,

2/10/25

..

3,164

3,114

FW2606503.UP.FTS.B,

28.81%,

2/10/25

..

1,459

874

FW2608083.UP.FTS.B,

29.04%,

2/10/25

..

3,300

3,252

FW2606988.UP.FTS.B,

30.72%,

2/10/25

..

5,557

5,474

L2559948.UP.FTS.B,

6.36%,

2/11/25

.....

43,593

43,289

L2614008.UP.FTS.B,

6.72%,

2/11/25

.....

8,724

8,664

L2612506.UP.FTS.B,

6.79%,

2/11/25

.....

6,970

6,921

L2613442.UP.FTS.B,

7.01%,

2/11/25

.....

4,049

4,020

FW2610553.UP.FTS.B,

7.05%,

2/11/25

...

5,238

5,202

L2611637.UP.FTS.B,

7.21%,

2/11/25

.....

5,668

5,629

L2613730.UP.FTS.B,

7.75%,

2/11/25

.....

24,433

24,242

L2610192.UP.FTS.B,

7.76%,

2/11/25

.....

10,839

10,748

FW2615331.UP.FTS.B,

10.38%,

2/11/25

..

1,317

1,307

L2611481.UP.FTS.B,

10.47%,

2/11/25

....

11,024

10,934

FW2609609.UP.FTS.B,

11.5%,

2/11/25

...

2,640

2,619

L2613972.UP.FTS.B,

11.67%,

2/11/25

....

5,282

5,239

FW2613275.UP.FTS.B,

11.71%,

2/11/25

..

3,081

3,056

L2612036.UP.FTS.B,

13.32%,

2/11/25

....

4,768

4,729

FW2613797.UP.FTS.B,

13.33%,

2/11/25

..

2,554

2,532

L2607238.UP.FTS.B,

13.47%,

2/11/25

....

2,649

2,617

FW2611811.UP.FTS.B,

13.7%,

2/11/25

...

1,767

1,753

FW2612521.UP.FTS.B,

13.9%,

2/11/25

...

3,093

3,055

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L2614740.UP.FTS.B,

14.28%,

2/11/25

....

$

9,640

$

9,522

L2610928.UP.FTS.B,

15.17%,

2/11/25

....

3,536

3,493

L2613761.UP.FTS.B,

15.3%,

2/11/25

.....

1,329

1,313

FW2615429.UP.FTS.B,

17.03%,

2/11/25

..

3,110

3,072

L2615117.UP.FTS.B,

17.61%,

2/11/25

....

864

853

FW2610423.UP.FTS.B,

17.65%,

2/11/25

..

3,558

3,515

L2613616.UP.FTS.B,

17.75%,

2/11/25

....

18,817

18,588

L2615349.UP.FTS.B,

17.97%,

2/11/25

....

1,513

1,494

L2614223.UP.FTS.B,

18.74%,

2/11/25

....

4,010

3,961

L2612860.UP.FTS.B,

19.65%,

2/11/25

....

6,285

6,211

FW2614854.UP.FTS.B,

20.12%,

2/11/25

..

1,331

1,314

L2611111.UP.FTS.B,

20.83%,

2/11/25

....

3,119

3,081

L2614362.UP.FTS.B,

21%,

2/11/25

......

2,236

2,209

L2610485.UP.FTS.B,

21.72%,

2/11/25

....

8,953

8,815

L2614581.UP.FTS.B,

22.06%,

2/11/25

....

1,792

1,770

L2615784.UP.FTS.B,

22.11%,

2/11/25

....

3,445

3,389

FW2613906.UP.FTS.B,

22.85%,

2/11/25

..

897

883

L2613386.UP.FTS.B,

22.9%,

2/11/25

.....

8,072

7,975

L2613140.UP.FTS.B,

22.96%,

2/11/25

....

1,126

313

FW2613227.UP.FTS.B,

24.28%,

2/11/25

..

1,320

1,298

L2615495.UP.FTS.B,

24.65%,

2/11/25

....

7,601

7,482

FW2615176.UP.FTS.B,

25.3%,

2/11/25

...

1,800

1,773

FW2615353.UP.FTS.B,

25.68%,

2/11/25

..

943

927

FW2611527.UP.FTS.B,

26.67%,

2/11/25

..

18,041

17,765

FW2611646.UP.FTS.B,

26.71%,

2/11/25

..

3,285

3,227

FW2606196.UP.FTS.B,

26.86%,

2/11/25

..

5,389

28

FW2607388.UP.FTS.B,

27.89%,

2/11/25

..

7,188

1,075

FW2610149.UP.FTS.B,

28.57%,

2/11/25

..

926

556

FW2610486.UP.FTS.B,

28.82%,

2/11/25

..

1,171

1,153

FW2612445.UP.FTS.B,

29.15%,

2/11/25

..

2,690

2,648

FW2610708.UP.FTS.B,

31.36%,

2/11/25

..

2,906

2,862

L2616863.UP.FTS.B,

8.18%,

2/14/25

....

2,235

2,217

L2617531.UP.FTS.B,

9.41%,

2/14/25

....

11,398

11,310

L2616546.UP.FTS.B,

9.84%,

2/14/25

....

10,530

10,448

L2618393.UP.FTS.B,

12.87%,

2/14/25

....

4,411

4,375

FW2616160.UP.FTS.B,

13.5%,

2/14/25

...

1,695

1,680

L2616391.UP.FTS.B,

13.87%,

2/14/25

....

2,209

2,191

L2617225.UP.FTS.B,

15.71%,

2/14/25

....

9,173

9,052

L2618286.UP.FTS.B,

16.38%,

2/14/25

....

2,663

2,631

L2617246.UP.FTS.B,

16.8%,

2/14/25

....

8,438

8,372

FW2616262.UP.FTS.B,

17.76%,

2/14/25

..

2,683

2,648

L2584870.UP.FTS.B,

18.22%,

2/14/25

....

1,777

1,756

L2616222.UP.FTS.B,

19.49%,

2/14/25

....

1,517

1,499

L2617430.UP.FTS.B,

20.47%,

2/14/25

....

14,296

14,079

L2615004.UP.FTS.B,

20.75%,

2/14/25

....

1,788

1,766

L2615804.UP.FTS.B,

23.22%,

2/14/25

....

13,460

13,297

FW2615790.UP.FTS.B,

25.6%,

2/14/25

...

2,252

2,217

FW2617005.UP.FTS.B,

25.65%,

2/14/25

..

1,801

1,774

FW2616085.UP.FTS.B,

27.69%,

2/14/25

..

2,982

2,936

FW2617024.UP.FTS.B,

28.53%,

2/14/25

..

4,522

4,453

FW2618494.UP.FTS.B,

29.21%,

2/14/25

..

11,735

11,553

FW1884445.UP.FTS.B,

29.15%,

3/20/25

..

953

940

L2949337.UP.FTS.B,

6.16%,

4/14/25

....

6,464

6,433

L2950073.UP.FTS.B,

6.9%,

4/14/25

.....

9,822

9,773

L2949006.UP.FTS.B,

7.34%,

4/14/25

....

6,843

6,811

L2950494.UP.FTS.B,

7.36%,

4/14/25

....

1,849

1,840

FW2950302.UP.FTS.B,

8.61%,

4/14/25

...

4,504

4,478

L2950213.UP.FTS.B,

8.77%,

4/14/25

....

2,964

2,950

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

117

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2950690.UP.FTS.B,

9.45%,

4/14/25

....

$

5,006

$

4,979

L2949710.UP.FTS.B,

9.46%,

4/14/25

....

7,817

7,782

L2950058.UP.FTS.B,

9.46%,

4/14/25

....

2,032

2,021

FW2950661.UP.FTS.B,

9.55%,

4/14/25

...

3,243

3,225

L2950499.UP.FTS.B,

10.1%,

4/14/25

....

4,637

4,612

L2948915.UP.FTS.B,

10.51%,

4/14/25

....

23,275

23,172

L2949799.UP.FTS.B,

10.61%,

4/14/25

....

8,229

8,184

L2949804.UP.FTS.B,

11.24%,

4/14/25

....

2,043

2,031

L2951809.UP.FTS.B,

11.3%,

4/14/25

.....

27,885

27,706

L2950816.UP.FTS.B,

11.31%,

4/14/25

....

1,579

1,571

L2949385.UP.FTS.B,

11.88%,

4/14/25

....

9,945

9,894

L2951900.UP.FTS.B,

12.02%,

4/14/25

....

6,498

6,460

L2950678.UP.FTS.B,

12.4%,

4/14/25

....

2,038

2,025

FW2950475.UP.FTS.B,

12.78%,

4/14/25

..

1,023

1,017

FW2951887.UP.FTS.B,

13.49%,

4/14/25

..

1,397

1,390

L2951520.UP.FTS.B,

13.5%,

4/14/25

....

3,724

3,703

L2950266.UP.FTS.B,

13.94%,

4/14/25

....

2,049

2,039

L2951348.UP.FTS.B,

13.94%,

4/14/25

....

1,832

1,821

FW2950043.UP.FTS.B,

14.04%,

4/14/25

..

3,038

3,020

L2949379.UP.FTS.B,

14.06%,

4/14/25

....

1,397

1,390

FW2951735.UP.FTS.B,

15.61%,

4/14/25

..

5,137

5,094

L2950382.UP.FTS.B,

15.7%,

4/14/25

....

931

923

L2950290.UP.FTS.B,

15.94%,

4/14/25

....

4,667

4,625

L2951331.UP.FTS.B,

16.4%,

4/14/25

....

976

965

L2951781.UP.FTS.B,

16.49%,

4/14/25

....

4,206

4,171

L2950169.UP.FTS.B,

16.64%,

4/14/25

....

18,683

18,513

L2949827.UP.FTS.B,

18.88%,

4/14/25

....

1,399

1,383

L2950254.UP.FTS.B,

18.93%,

4/14/25

....

1,405

1,392

L2942398.UP.FTS.B,

18.94%,

4/14/25

....

3,745

3,712

FW2949345.UP.FTS.B,

19.25%,

4/14/25

..

4,006

3,967

FW2951691.UP.FTS.B,

20.36%,

4/14/25

..

5,157

5,112

L2950233.UP.FTS.B,

20.55%,

4/14/25

....

1,688

1,673

FW2943510.UP.FTS.B,

20.7%,

4/14/25

...

9,357

9,274

L2950178.UP.FTS.B,

20.99%,

4/14/25

....

6,568

6,510

L2949028.UP.FTS.B,

21.29%,

4/14/25

....

4,037

3,988

L2949677.UP.FTS.B,

21.51%,

4/14/25

....

12,016

11,880

L2950045.UP.FTS.B,

22.15%,

4/14/25

....

903

895

FW2951504.UP.FTS.B,

22.69%,

4/14/25

..

1,598

1,580

FW2951494.UP.FTS.B,

23.09%,

4/14/25

..

2,819

2,787

L2950329.UP.FTS.B,

23.25%,

4/14/25

....

2,351

2,331

L2949880.UP.FTS.B,

23.36%,

4/14/25

....

5,360

5,301

L2951079.UP.FTS.B,

23.91%,

4/14/25

....

3,575

3,536

FW2949287.UP.FTS.B,

25.31%,

4/14/25

..

5,087

5,032

FW2950219.UP.FTS.B,

25.83%,

4/14/25

..

2,355

2,329

FW2951574.UP.FTS.B,

27.02%,

4/14/25

..

2,833

2,806

FW2950126.UP.FTS.B,

27.41%,

4/14/25

..

963

915

FW2951404.UP.FTS.B,

29.21%,

4/14/25

..

1,339

1,327

FW2949932.UP.FTS.B,

30.42%,

4/14/25

..

4,732

4,682

L2047582.UP.FTS.B,

20.47%,

4/15/25

....

4,560

4,502

L2096743.UP.FTS.B,

17.97%,

4/22/25

....

913

136

L2095437.UP.FTS.B,

19.77%,

4/22/25

....

2,715

2,690

L2298532.UP.FTS.B,

17.26%,

5/22/25

....

1,824

1,809

L2299568.UP.FTS.B,

21.13%,

5/22/25

....

9,620

9,098

FW2423090.UP.FTS.B,

10.24%,

6/13/25

..

2,443

2,429

FW2428851.UP.FTS.B,

10.68%,

6/14/25

..

2,649

2,629

FW2434936.UP.FTS.B,

32.93%,

6/14/25

..

2,933

2,895

FW2431318.UP.FTS.B,

21.26%,

11/14/25

.

18,915

18,726

L1714660.UP.FTS.B,

8.12%,

9/15/26

....

29,884

29,703

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L1717453.UP.FTS.B,

9.3%,

9/15/26

.....

$

43,174

$

42,920

FW1716114.UP.FTS.B,

10.5%,

9/15/26

...

863

858

L1712309.UP.FTS.B,

10.63%,

9/15/26

....

3,470

3,442

L1714525.UP.FTS.B,

12.1%,

9/15/26

....

43,592

43,242

L1715138.UP.FTS.B,

13.13%,

9/15/26

....

2,749

381

L1715513.UP.FTS.B,

13.27%,

9/15/26

....

26,258

26,048

L1716286.UP.FTS.B,

13.58%,

9/15/26

....

13,141

13,036

L1715370.UP.FTS.B,

14.13%,

9/15/26

....

8,777

8,707

L1718985.UP.FTS.B,

14.33%,

9/15/26

....

8,912

8,386

L1694887.UP.FTS.B,

15.52%,

9/15/26

....

5,289

5,247

L1715015.UP.FTS.B,

15.83%,

9/15/26

....

4,412

4,377

L1718329.UP.FTS.B,

15.98%,

9/15/26

....

3,531

3,491

L1714475.UP.FTS.B,

16.18%,

9/15/26

....

6,183

6,135

L1716713.UP.FTS.B,

17%,

9/15/26

......

5,597

229

L1715044.UP.FTS.B,

18.15%,

9/15/26

....

4,887

4,832

FW1701600.UP.FTS.B,

18.45%,

9/15/26

..

5,336

5,262

L1714417.UP.FTS.B,

19.34%,

9/15/26

....

2,699

2,537

L1715411.UP.FTS.B,

19.4%,

9/15/26

.....

981

967

L1716175.UP.FTS.B,

19.72%,

9/15/26

....

8,927

8,803

L1714787.UP.FTS.B,

19.9%,

9/15/26

....

1,663

1,647

L1716305.UP.FTS.B,

19.95%,

9/15/26

....

4,428

4,364

L1717139.UP.FTS.B,

20.78%,

9/15/26

....

9,510

681

L1716066.UP.FTS.B,

21%,

9/15/26

......

2,312

2,177

L1715815.UP.FTS.B,

21.76%,

9/15/26

....

34,577

34,295

L1716315.UP.FTS.B,

22.19%,

9/15/26

....

5,723

411

L1692458.UP.FTS.B,

22.21%,

9/15/26

....

4,168

4,128

L1715797.UP.FTS.B,

22.6%,

9/15/26

....

1,822

1,729

L1717181.UP.FTS.B,

22.62%,

9/15/26

....

6,479

6,390

L1713636.UP.FTS.B,

22.84%,

9/15/26

....

3,998

3,966

L1718923.UP.FTS.B,

23.78%,

9/15/26

....

913

867

L1716174.UP.FTS.B,

24.2%,

9/15/26

....

16,718

16,611

L1717305.UP.FTS.B,

24.28%,

9/15/26

....

1,122

168

L1717152.UP.FTS.B,

24.37%,

9/15/26

....

5,786

5,749

L1716875.UP.FTS.B,

24.44%,

9/15/26

....

2,785

2,766

L1717659.UP.FTS.B,

24.51%,

9/15/26

....

2,715

2,678

FW1714702.UP.FTS.B,

24.7%,

9/15/26

...

36,193

35,963

L1716982.UP.FTS.B,

24.74%,

9/15/26

....

9,168

8,695

L1716148.UP.FTS.B,

25%,

9/15/26

......

1,087

1,075

L1716674.UP.FTS.B,

25.03%,

9/15/26

....

906

900

L1715732.UP.FTS.B,

25.07%,

9/15/26

....

12,680

12,600

L1714798.UP.FTS.B,

25.5%,

9/15/26

....

4,625

4,595

L1717974.UP.FTS.B,

25.5%,

9/15/26

....

2,539

2,523

L1712708.UP.FTS.B,

25.51%,

9/15/26

....

4,486

4,455

FW1714313.UP.FTS.B,

25.63%,

9/15/26

..

48,256

3,423

L1715574.UP.FTS.B,

25.72%,

9/15/26

....

6,169

6,130

L1718188.UP.FTS.B,

26.1%,

9/15/26

....

6,153

436

L1713640.UP.FTS.B,

26.25%,

9/15/26

....

3,817

3,793

L1712773.UP.FTS.B,

26.27%,

9/15/26

....

3,145

3,124

FW1717121.UP.FTS.B,

26.43%,

9/15/26

..

2,272

2,258

L1715518.UP.FTS.B,

26.49%,

9/15/26

....

7,453

7,406

FW1716481.UP.FTS.B,

26.69%,

9/15/26

..

23,190

23,043

L1705442.UP.FTS.B,

26.69%,

9/15/26

....

6,369

6,329

FW1718296.UP.FTS.B,

26.73%,

9/15/26

..

6,818

6,768

L1718145.UP.FTS.B,

26.73%,

9/15/26

....

9,095

9,037

FW1718538.UP.FTS.B,

27.07%,

9/15/26

..

29,978

2,140

FW1717727.UP.FTS.B,

27.26%,

9/15/26

..

15,482

15,385

FW1718853.UP.FTS.B,

27.42%,

9/15/26

..

6,341

6,119

FW1714570.UP.FTS.B,

27.72%,

9/15/26

..

7,259

7,211

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

118

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

FW1717010.UP.FTS.B,

28.17%,

9/15/26

..

$

13,563

$

13,468

FW1718140.UP.FTS.B,

28.3%,

9/15/26

...

2,631

2,609

FW1714502.UP.FTS.B,

28.45%,

9/15/26

..

7,581

7,533

FW1715883.UP.FTS.B,

28.82%,

9/15/26

..

9,141

9,083

FW1714524.UP.FTS.B,

30.07%,

9/15/26

..

5,503

5,469

FW1718307.UP.FTS.B,

30.23%,

9/15/26

..

5,871

5,834

FW1715167.UP.FTS.B,

30.5%,

9/15/26

...

2,433

715

FW1718304.UP.FTS.B,

30.56%,

9/15/26

..

2,570

2,554

FW1717776.UP.FTS.B,

30.58%,

9/15/26

..

2,362

2,346

FW1713484.UP.FTS.B,

30.9%,

9/15/26

...

7,245

7,195

FW1687695.UP.FTS.B,

31.01%,

9/15/26

..

2,878

2,832

FW1717339.UP.FTS.B,

31.08%,

9/15/26

..

1,514

105

FW1714101.UP.FTS.B,

31.22%,

9/15/26

..

1,666

1,655

FW1680820.UP.FTS.B,

31.24%,

9/15/26

..

10,111

10,048

FW1708223.UP.FTS.B,

31.43%,

9/15/26

..

3,494

3,473

FW1712750.UP.FTS.B,

31.43%,

9/15/26

..

16,552

16,449

FW1715615.UP.FTS.B,

31.45%,

9/15/26

..

4,822

4,791

FW1718952.UP.FTS.B,

31.98%,

9/15/26

..

7,181

7,137

FW1718497.UP.FTS.B,

32.01%,

9/15/26

..

2,118

2,105

FW1717605.UP.FTS.B,

32.67%,

9/15/26

..

2,121

2,108

FW1886121.UP.FTS.B,

7.36%,

10/20/26

..

3,489

3,477

L1888552.UP.FTS.B,

7.94%,

10/20/26

....

26,217

26,077

L1888883.UP.FTS.B,

8.11%,

10/20/26

....

11,330

11,269

L1882812.UP.FTS.B,

8.28%,

10/20/26

....

26,246

26,106

L1886838.UP.FTS.B,

9.58%,

10/20/26

....

7,906

7,865

L1885593.UP.FTS.B,

10.23%,

10/20/26

...

39,261

38,974

L1877670.UP.FTS.B,

10.82%,

10/20/26

...

2,205

2,193

L1888179.UP.FTS.B,

11.03%,

10/20/26

...

1,734

1,719

L1886082.UP.FTS.B,

11.37%,

10/20/26

...

37,984

37,710

FW1885766.UP.FTS.B,

12.47%,

10/20/26

.

28,315

28,111

L1885346.UP.FTS.B,

12.58%,

10/20/26

...

2,660

2,641

FW1888413.UP.FTS.B,

13.2%,

10/20/26

..

2,311

322

L1886564.UP.FTS.B,

13.29%,

10/20/26

...

3,110

3,088

L1885846.UP.FTS.B,

13.96%,

10/20/26

...

22,255

22,099

L1884193.UP.FTS.B,

14.57%,

10/20/26

...

34,691

34,336

L1888251.UP.FTS.B,

14.9%,

10/20/26

....

2,678

2,651

L1884125.UP.FTS.B,

14.92%,

10/20/26

...

9,171

9,077

L1883791.UP.FTS.B,

16%,

10/20/26

.....

9,819

9,718

L1887062.UP.FTS.B,

16.6%,

10/20/26

....

4,459

4,402

L1889326.UP.FTS.B,

16.75%,

10/20/26

...

4,486

4,441

L1886707.UP.FTS.B,

16.94%,

10/20/26

...

22,335

22,052

FW1887343.UP.FTS.B,

17.02%,

10/20/26

.

2,581

2,552

L1882034.UP.FTS.B,

17.06%,

10/20/26

...

4,490

4,434

L1884842.UP.FTS.B,

17.41%,

10/20/26

...

5,752

5,668

L1842690.UP.FTS.B,

17.51%,

10/20/26

...

5,390

5,336

FW1886267.UP.FTS.B,

17.53%,

10/20/26

.

9,351

9,235

L1884411.UP.FTS.B,

17.65%,

10/20/26

...

5,757

5,685

L1886663.UP.FTS.B,

17.66%,

10/20/26

...

1,985

1,955

L1888992.UP.FTS.B,

17.92%,

10/20/26

...

4,501

4,444

L1884412.UP.FTS.B,

17.98%,

10/20/26

...

6,302

6,223

FW1885521.UP.FTS.B,

18.95%,

10/20/26

.

2,527

2,502

L1884649.UP.FTS.B,

19.11%,

10/20/26

...

11,965

11,276

L1883366.UP.FTS.B,

19.16%,

10/20/26

...

4,064

4,037

L1885374.UP.FTS.B,

19.52%,

10/20/26

...

7,309

7,210

FW1886716.UP.FTS.B,

19.8%,

10/20/26

..

26,161

26,022

FW1885177.UP.FTS.B,

19.83%,

10/20/26

.

5,428

5,400

L1888147.UP.FTS.B,

20.2%,

10/20/26

....

1,809

1,800

L1888979.UP.FTS.B,

20.2%,

10/20/26

....

16,302

16,218

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW1886875.UP.FTS.B,

20.29%,

10/20/26

.

$

2,899

$

2,870

L1886466.UP.FTS.B,

20.85%,

10/20/26

...

12,661

12,594

L1885611.UP.FTS.B,

20.87%,

10/20/26

...

8,941

8,826

L1885460.UP.FTS.B,

21.1%,

10/20/26

....

3,399

3,203

L1889370.UP.FTS.B,

21.62%,

10/20/26

...

9,088

8,976

L1886870.UP.FTS.B,

21.7%,

10/20/26

....

15,452

15,373

L1888822.UP.FTS.B,

21.71%,

10/20/26

...

3,181

3,165

L1886326.UP.FTS.B,

22.16%,

10/20/26

...

49,053

3,546

L1887570.UP.FTS.B,

22.24%,

10/20/26

...

2,913

2,898

FW1885835.UP.FTS.B,

22.35%,

10/20/26

.

2,913

2,899

FW1884796.UP.FTS.B,

22.4%,

10/20/26

..

6,374

6,341

L1884335.UP.FTS.B,

22.8%,

10/20/26

....

12,305

12,243

L1886214.UP.FTS.B,

22.83%,

10/20/26

...

1,808

1,798

L1888563.UP.FTS.B,

22.92%,

10/20/26

...

10,548

10,371

FW1884970.UP.FTS.B,

22.98%,

10/20/26

.

4,560

4,537

L1887186.UP.FTS.B,

23.15%,

10/20/26

...

1,824

1,815

L1888429.UP.FTS.B,

23.3%,

10/20/26

....

11,599

11,022

FW1888999.UP.FTS.B,

23.52%,

10/20/26

.

4,566

4,543

L1886386.UP.FTS.B,

23.7%,

10/20/26

....

4,932

4,908

L1887521.UP.FTS.B,

24.21%,

10/20/26

...

4,129

4,105

L1887035.UP.FTS.B,

24.47%,

10/20/26

...

3,304

972

L1882558.UP.FTS.B,

25.08%,

10/20/26

...

1,467

1,460

FW1887450.UP.FTS.B,

25.16%,

10/20/26

.

13,748

13,680

FW1885417.UP.FTS.B,

25.25%,

10/20/26

.

4,584

4,561

L1888117.UP.FTS.B,

25.32%,

10/20/26

...

3,759

3,740

L1865153.UP.FTS.B,

25.42%,

10/20/26

...

6,694

6,661

L1885219.UP.FTS.B,

25.47%,

10/20/26

...

917

913

L1888296.UP.FTS.B,

25.48%,

10/20/26

...

7,888

7,849

L1886904.UP.FTS.B,

25.49%,

10/20/26

...

3,022

216

L1888453.UP.FTS.B,

25.56%,

10/20/26

...

14,678

14,605

FW1884837.UP.FTS.B,

25.6%,

10/20/26

..

30,825

30,674

FW1882891.UP.FTS.B,

25.65%,

10/20/26

.

2,211

2,179

FW1886975.UP.FTS.B,

25.84%,

10/20/26

.

1,928

1,919

FW1882972.UP.FTS.B,

25.9%,

10/20/26

..

1,653

1,645

L1885428.UP.FTS.B,

25.94%,

10/20/26

...

13,129

13,064

L1862311.UP.FTS.B,

26.09%,

10/20/26

...

7,345

7,309

FW1886213.UP.FTS.B,

26.39%,

10/20/26

.

6,801

6,768

L1885011.UP.FTS.B,

26.84%,

10/20/26

...

7,178

7,143

FW1886644.UP.FTS.B,

27.14%,

10/20/26

.

3,253

31

FW1884123.UP.FTS.B,

27.3%,

10/20/26

..

2,350

2,336

FW1889085.UP.FTS.B,

27.59%,

10/20/26

.

922

917

FW1886962.UP.FTS.B,

27.78%,

10/20/26

.

9,219

9,174

FW1886539.UP.FTS.B,

27.96%,

10/20/26

.

6,456

6,425

FW1884718.UP.FTS.B,

28.21%,

10/20/26

.

14,534

1,019

FW1884654.UP.FTS.B,

28.78%,

10/20/26

.

2,800

497

FW1885667.UP.FTS.B,

29.34%,

10/20/26

.

25,640

25,454

FW1885184.UP.FTS.B,

29.51%,

10/20/26

.

12,399

12,340

FW1889091.UP.FTS.B,

29.67%,

10/20/26

.

2,962

2,948

FW1886872.UP.FTS.B,

30.11%,

10/20/26

.

1,668

1,660

FW1885763.UP.FTS.B,

30.45%,

10/20/26

.

1,548

1,531

FW1882702.UP.FTS.B,

30.82%,

10/20/26

.

1,477

1,432

FW1884150.UP.FTS.B,

30.85%,

10/20/26

.

1,316

1,303

FW1886189.UP.FTS.B,

30.94%,

10/20/26

.

3,248

3,233

FW1888195.UP.FTS.B,

30.94%,

10/20/26

.

5,899

5,611

FW1886998.UP.FTS.B,

30.95%,

10/20/26

.

1,670

1,663

FW1887393.UP.FTS.B,

31.08%,

10/20/26

.

10,766

758

FW1885617.UP.FTS.B,

31.09%,

10/20/26

.

44,804

44,518

FW1889257.UP.FTS.B,

31.11%,

10/20/26

.

2,601

2,588

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

119

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

FW1884144.UP.FTS.B,

31.17%,

10/20/26

.

$

21,897

$

21,794

FW1888148.UP.FTS.B,

31.17%,

10/20/26

.

3,243

3,227

FW1889308.UP.FTS.B,

31.17%,

10/20/26

.

7,218

1,110

FW1884662.UP.FTS.B,

31.19%,

10/20/26

.

2,414

2,403

FW1888248.UP.FTS.B,

31.19%,

10/20/26

.

12,604

12,521

FW1888517.UP.FTS.B,

31.21%,

10/20/26

.

1,857

1,848

FW1886514.UP.FTS.B,

31.22%,

10/20/26

.

5,972

5,942

FW1883864.UP.FTS.B,

31.23%,

10/20/26

.

1,180

1,169

FW1887676.UP.FTS.B,

31.23%,

10/20/26

.

2,695

2,680

FW1886674.UP.FTS.B,

31.35%,

10/20/26

.

4,382

4,356

FW1888130.UP.FTS.B,

31.35%,

10/20/26

.

1,207

1,202

FW1887695.UP.FTS.B,

31.4%,

10/20/26

..

7,153

7,119

FW1887414.UP.FTS.B,

31.43%,

10/20/26

.

8,610

2,566

FW1887444.UP.FTS.B,

31.55%,

10/20/26

.

1,814

543

FW1882547.UP.FTS.B,

31.57%,

10/20/26

.

3,769

261

FW1886460.UP.FTS.B,

31.71%,

10/20/26

.

3,755

3,570

FW1886614.UP.FTS.B,

31.93%,

10/20/26

.

5,393

5,368

L2049051.UP.FTS.B,

7.06%,

11/15/26

....

26,575

26,415

L2047884.UP.FTS.B,

7.92%,

11/15/26

....

13,870

13,783

L2049043.UP.FTS.B,

8.02%,

11/15/26

....

15,101

15,010

L2048411.UP.FTS.B,

8.56%,

11/15/26

....

3,547

3,525

L2048206.UP.FTS.B,

8.69%,

11/15/26

....

979

973

L2047237.UP.FTS.B,

9.32%,

11/15/26

....

6,241

6,204

FW2046704.UP.FTS.B,

9.53%,

11/15/26

..

13,382

13,302

L2048415.UP.FTS.B,

9.54%,

11/15/26

....

14,278

14,193

L2048218.UP.FTS.B,

10.37%,

11/15/26

...

27,173

27,011

L2047868.UP.FTS.B,

10.51%,

11/15/26

...

35,781

35,568

L2039266.UP.FTS.B,

10.56%,

11/15/26

...

4,194

4,157

L2047893.UP.FTS.B,

10.71%,

11/15/26

...

4,473

4,436

L2041972.UP.FTS.B,

10.92%,

11/15/26

...

44,775

44,398

L2049374.UP.FTS.B,

10.93%,

11/15/26

...

2,232

2,219

L2047021.UP.FTS.B,

10.99%,

11/15/26

...

33,320

33,039

L2047044.UP.FTS.B,

11.1%,

11/15/26

....

13,439

13,326

L2048072.UP.FTS.B,

11.58%,

11/15/26

...

10,765

10,675

L2047288.UP.FTS.B,

11.81%,

11/15/26

...

1,167

1,160

L2048116.UP.FTS.B,

12.09%,

11/15/26

...

1,078

1,069

FW2047068.UP.FTS.B,

12.14%,

11/15/26

.

1,168

1,158

L2048395.UP.FTS.B,

12.59%,

11/15/26

...

2,877

2,852

L2048098.UP.FTS.B,

12.76%,

11/15/26

...

5,399

5,354

L2048156.UP.FTS.B,

13.55%,

11/15/26

...

5,968

5,615

L2048614.UP.FTS.B,

13.61%,

11/15/26

...

4,436

322

L2046597.UP.FTS.B,

14.02%,

11/15/26

...

18,057

17,905

L2048360.UP.FTS.B,

14.07%,

11/15/26

...

5,412

5,367

L2047243.UP.FTS.B,

14.23%,

11/15/26

...

16,260

16,124

FW2047393.UP.FTS.B,

14.85%,

11/15/26

.

9,047

8,938

L2048500.UP.FTS.B,

14.96%,

11/15/26

...

22,623

22,433

FW2049034.UP.FTS.B,

15.15%,

11/15/26

.

5,859

5,787

L2047438.UP.FTS.B,

15.22%,

11/15/26

...

5,458

5,392

L2049134.UP.FTS.B,

15.26%,

11/15/26

...

22,642

22,453

L2049297.UP.FTS.B,

15.42%,

11/15/26

...

1,812

1,797

L2048596.UP.FTS.B,

15.55%,

11/15/26

...

5,438

5,392

L2048855.UP.FTS.B,

15.99%,

11/15/26

...

8,806

8,693

L2047708.UP.FTS.B,

16.09%,

11/15/26

...

9,892

9,772

FW2048646.UP.FTS.B,

16.12%,

11/15/26

.

6,353

6,276

FW2047282.UP.FTS.B,

16.13%,

11/15/26

.

4,538

4,500

L2048113.UP.FTS.B,

16.14%,

11/15/26

...

3,994

3,945

FW2048861.UP.FTS.B,

16.4%,

11/15/26

..

43,207

42,815

L2045526.UP.FTS.B,

16.56%,

11/15/26

...

18,171

17,902

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW2046700.UP.FTS.B,

16.57%,

11/15/26

.

$

7,379

$

6,941

L2049455.UP.FTS.B,

16.62%,

11/15/26

...

1,363

1,352

L2048386.UP.FTS.B,

16.67%,

11/15/26

...

9,149

9,039

L2048877.UP.FTS.B,

16.73%,

11/15/26

...

9,080

8,970

L2048811.UP.FTS.B,

16.74%,

11/15/26

...

905

897

L2047304.UP.FTS.B,

17.38%,

11/15/26

...

8,166

346

L2046948.UP.FTS.B,

17.39%,

11/15/26

...

13,656

13,491

L2048180.UP.FTS.B,

17.57%,

11/15/26

...

18,215

17,946

FW2048525.UP.FTS.B,

17.72%,

11/15/26

.

14,096

3,815

FW2049100.UP.FTS.B,

17.84%,

11/15/26

.

1,823

1,801

L2046932.UP.FTS.B,

17.96%,

11/15/26

...

18,230

18,077

L2048201.UP.FTS.B,

18%,

11/15/26

.....

24,151

23,935

L2046867.UP.FTS.B,

18.23%,

11/15/26

...

5,969

5,882

L2046952.UP.FTS.B,

18.41%,

11/15/26

...

2,738

2,705

FW2049130.UP.FTS.B,

18.42%,

11/15/26

.

28,395

4,162

L2048706.UP.FTS.B,

18.46%,

11/15/26

...

11,773

11,631

FW2048881.UP.FTS.B,

18.48%,

11/15/26

.

6,024

5,935

L2046949.UP.FTS.B,

18.49%,

11/15/26

...

10,486

1,506

L2047775.UP.FTS.B,

18.5%,

11/15/26

....

4,655

4,379

L2048349.UP.FTS.B,

19.37%,

11/15/26

...

6,951

6,848

L2048896.UP.FTS.B,

19.39%,

11/15/26

...

1,372

1,352

L2046925.UP.FTS.B,

19.69%,

11/15/26

...

2,746

2,713

L2049268.UP.FTS.B,

19.7%,

11/15/26

....

6,407

6,312

L2047722.UP.FTS.B,

19.71%,

11/15/26

...

9,178

9,068

L2049153.UP.FTS.B,

19.94%,

11/15/26

...

9,158

9,081

L2049386.UP.FTS.B,

19.96%,

11/15/26

...

5,037

4,962

L2048679.UP.FTS.B,

20.38%,

11/15/26

...

4,815

727

L2048873.UP.FTS.B,

20.43%,

11/15/26

...

4,401

4,347

FW2049180.UP.FTS.B,

20.6%,

11/15/26

..

27,335

27,093

L2047238.UP.FTS.B,

20.7%,

11/15/26

....

9,175

9,039

L2048946.UP.FTS.B,

20.7%,

11/15/26

....

14,678

14,460

FW2047226.UP.FTS.B,

20.73%,

11/15/26

.

4,587

4,519

L2047279.UP.FTS.B,

20.87%,

11/15/26

...

8,259

8,190

FW2048990.UP.FTS.B,

20.89%,

11/15/26

.

2,845

2,803

L2049423.UP.FTS.B,

21.02%,

11/15/26

...

7,319

7,255

L2047474.UP.FTS.B,

21.16%,

11/15/26

...

11,028

10,936

L2046907.UP.FTS.B,

21.17%,

11/15/26

...

3,288

3,238

L2047067.UP.FTS.B,

21.22%,

11/15/26

...

21,123

20,867

L2046992.UP.FTS.B,

21.33%,

11/15/26

...

6,222

6,123

L2048370.UP.FTS.B,

21.39%,

11/15/26

...

18,375

18,102

L2048375.UP.FTS.B,

21.41%,

11/15/26

...

5,810

5,720

L2046780.UP.FTS.B,

21.44%,

11/15/26

...

4,831

4,758

L2048606.UP.FTS.B,

21.48%,

11/15/26

...

9,233

9,150

FW2047914.UP.FTS.B,

21.49%,

11/15/26

.

22,973

22,632

L2047175.UP.FTS.B,

21.59%,

11/15/26

...

1,116

1,057

FW2049311.UP.FTS.B,

21.75%,

11/15/26

.

4,717

4,469

L2047629.UP.FTS.B,

21.75%,

11/15/26

...

1,379

1,359

L2047532.UP.FTS.B,

21.84%,

11/15/26

...

4,598

4,559

L2047358.UP.FTS.B,

21.89%,

11/15/26

...

4,599

4,560

L2047197.UP.FTS.B,

21.93%,

11/15/26

...

10,026

9,877

FW2047187.UP.FTS.B,

22.1%,

11/15/26

..

14,722

14,598

FW2047897.UP.FTS.B,

22.1%,

11/15/26

..

1,840

1,825

L2047144.UP.FTS.B,

22.18%,

11/15/26

...

16,106

15,970

L2023190.UP.FTS.B,

22.35%,

11/15/26

...

29,505

29,067

L2047421.UP.FTS.B,

22.37%,

11/15/26

...

6,445

6,390

FW2049063.UP.FTS.B,

22.49%,

11/15/26

.

25,786

25,403

L2048823.UP.FTS.B,

22.5%,

11/15/26

....

10,081

9,993

L2047130.UP.FTS.B,

22.56%,

11/15/26

...

12,470

1,887

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

120

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

FW2047777.UP.FTS.B,

22.57%,

11/15/26

.

$

3,132

$

3,105

FW2049433.UP.FTS.B,

22.79%,

11/15/26

.

5,153

1,497

FW2047266.UP.FTS.B,

22.86%,

11/15/26

.

6,393

458

L2047210.UP.FTS.B,

23.31%,

11/15/26

...

8,302

8,232

L2047211.UP.FTS.B,

23.39%,

11/15/26

...

5,905

5,856

L2047678.UP.FTS.B,

23.49%,

11/15/26

...

4,153

4,118

L2041607.UP.FTS.B,

23.52%,

11/15/26

...

4,861

730

L2048190.UP.FTS.B,

23.66%,

11/15/26

...

12,001

11,900

L2048627.UP.FTS.B,

23.71%,

11/15/26

...

4,731

4,688

L2047435.UP.FTS.B,

23.78%,

11/15/26

...

2,427

58

FW2047866.UP.FTS.B,

23.86%,

11/15/26

.

5,057

4,994

L2046912.UP.FTS.B,

23.87%,

11/15/26

...

2,956

2,930

FW2049383.UP.FTS.B,

23.93%,

11/15/26

.

6,004

5,953

FW2047813.UP.FTS.B,

24.09%,

11/15/26

.

2,402

2,382

L2048336.UP.FTS.B,

24.12%,

11/15/26

...

3,696

3,665

FW2049072.UP.FTS.B,

24.18%,

11/15/26

.

1,827

1,810

L2049272.UP.FTS.B,

24.23%,

11/15/26

...

1,372

1,350

FW2047542.UP.FTS.B,

24.24%,

11/15/26

.

9,220

9,140

FW2034466.UP.FTS.B,

24.37%,

11/15/26

.

2,589

2,567

L2047240.UP.FTS.B,

24.44%,

11/15/26

...

7,781

7,710

L2047586.UP.FTS.B,

24.7%,

11/15/26

....

2,128

2,110

FW2047603.UP.FTS.B,

24.9%,

11/15/26

..

4,047

58

L2019591.UP.FTS.B,

24.92%,

11/15/26

...

8,421

7,917

L2046957.UP.FTS.B,

25.14%,

11/15/26

...

8,791

8,716

L2047552.UP.FTS.B,

25.17%,

11/15/26

...

2,591

2,456

L2047926.UP.FTS.B,

25.21%,

11/15/26

...

12,736

12,624

L2047674.UP.FTS.B,

25.3%,

11/15/26

....

3,705

3,674

L2048918.UP.FTS.B,

25.37%,

11/15/26

...

3,824

3,790

L2048978.UP.FTS.B,

25.37%,

11/15/26

...

9,264

9,185

L2049419.UP.FTS.B,

25.38%,

11/15/26

...

1,158

1,147

L2048482.UP.FTS.B,

25.39%,

11/15/26

...

28,022

27,777

L2048037.UP.FTS.B,

25.43%,

11/15/26

...

2,131

2,099

L2040394.UP.FTS.B,

25.47%,

11/15/26

...

2,418

2,396

L2048909.UP.FTS.B,

25.5%,

11/15/26

....

2,409

2,389

L2049148.UP.FTS.B,

25.5%,

11/15/26

....

2,131

2,113

L2043947.UP.FTS.B,

25.57%,

11/15/26

...

2,224

2,205

L2048194.UP.FTS.B,

25.64%,

11/15/26

...

3,800

3,768

FW2049037.UP.FTS.B,

25.72%,

11/15/26

.

4,636

4,597

FW2049484.UP.FTS.B,

25.73%,

11/15/26

.

9,370

8,878

FW2046927.UP.FTS.B,

25.78%,

11/15/26

.

6,954

6,895

FW2047316.UP.FTS.B,

25.83%,

11/15/26

.

4,095

1,204

FW2027220.UP.FTS.B,

25.94%,

11/15/26

.

1,577

1,563

L2048617.UP.FTS.B,

26.41%,

11/15/26

...

3,281

30

L2047192.UP.FTS.B,

26.58%,

11/15/26

...

8,417

7,973

FW2047100.UP.FTS.B,

26.77%,

11/15/26

.

2,787

2,763

FW2049190.UP.FTS.B,

26.92%,

11/15/26

.

3,236

3,207

FW2045584.UP.FTS.B,

27.07%,

11/15/26

.

6,042

5,990

FW2047533.UP.FTS.B,

27.2%,

11/15/26

..

2,789

2,765

FW2046574.UP.FTS.B,

27.41%,

11/15/26

.

1,023

1,014

FW2048209.UP.FTS.B,

27.57%,

11/15/26

.

4,789

717

FW2046988.UP.FTS.B,

27.85%,

11/15/26

.

7,486

7,419

FW2048599.UP.FTS.B,

28.16%,

11/15/26

.

898

889

FW2048745.UP.FTS.B,

28.25%,

11/15/26

.

1,317

1,295

FW2048754.UP.FTS.B,

28.46%,

11/15/26

.

14,384

2,176

FW2048015.UP.FTS.B,

28.64%,

11/15/26

.

29,368

28,877

FW2046975.UP.FTS.B,

29.11%,

11/15/26

.

4,924

349

FW2047988.UP.FTS.B,

29.5%,

11/15/26

..

7,803

7,733

FW2048743.UP.FTS.B,

29.66%,

11/15/26

.

9,346

9,266

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW2014368.UP.FTS.B,

29.7%,

11/15/26

..

$

4,670

$

4,630

FW2047661.UP.FTS.B,

29.89%,

11/15/26

.

4,673

4,633

FW2047676.UP.FTS.B,

29.96%,

11/15/26

.

23,656

23,443

FW2048362.UP.FTS.B,

30.1%,

11/15/26

..

904

889

FW2049296.UP.FTS.B,

30.21%,

11/15/26

.

6,544

6,488

FW2047774.UP.FTS.B,

30.23%,

11/15/26

.

912

903

FW2048202.UP.FTS.B,

30.45%,

11/15/26

.

1,145

1,085

FW2048849.UP.FTS.B,

30.57%,

11/15/26

.

19,567

62

FW2048300.UP.FTS.B,

30.61%,

11/15/26

.

4,843

(29)

FW2046664.UP.FTS.B,

30.63%,

11/15/26

.

4,750

706

FW2046687.UP.FTS.B,

30.69%,

11/15/26

.

2,500

373

FW2047468.UP.FTS.B,

30.8%,

11/15/26

..

2,112

2,083

FW2049349.UP.FTS.B,

30.81%,

11/15/26

.

1,498

1,485

FW2046290.UP.FTS.B,

30.86%,

11/15/26

.

1,581

110

FW2025322.UP.FTS.B,

30.89%,

11/15/26

.

3,744

3,712

FW2046653.UP.FTS.B,

30.94%,

11/15/26

.

2,168

153

FW2047632.UP.FTS.B,

31.02%,

11/15/26

.

4,845

(36)

FW2046908.UP.FTS.B,

31.04%,

11/15/26

.

2,576

182

FW2045384.UP.FTS.B,

31.05%,

11/15/26

.

1,327

1,305

FW2046973.UP.FTS.B,

31.05%,

11/15/26

.

3,246

3,217

FW2003302.UP.FTS.B,

31.06%,

11/15/26

.

8,970

633

FW2049409.UP.FTS.B,

31.09%,

11/15/26

.

9,531

2,803

FW2047660.UP.FTS.B,

31.1%,

11/15/26

..

2,408

2,386

FW2047739.UP.FTS.B,

31.1%,

11/15/26

..

7,866

7,798

FW2047658.UP.FTS.B,

31.11%,

11/15/26

.

2,563

178

FW1979816.UP.FTS.B,

31.12%,

11/15/26

.

2,623

2,600

FW2046950.UP.FTS.B,

31.12%,

11/15/26

.

7,024

6,963

FW2048800.UP.FTS.B,

31.12%,

11/15/26

.

2,880

2,730

FW2048749.UP.FTS.B,

31.13%,

11/15/26

.

2,424

2,402

FW2048391.UP.FTS.B,

31.16%,

11/15/26

.

2,061

2,043

FW2047749.UP.FTS.B,

31.18%,

11/15/26

.

6,347

947

FW2048976.UP.FTS.B,

31.2%,

11/15/26

..

4,458

310

FW2047818.UP.FTS.B,

31.21%,

11/15/26

.

2,998

2,972

FW2047594.UP.FTS.B,

31.24%,

11/15/26

.

1,592

1,579

FW2047989.UP.FTS.B,

31.24%,

11/15/26

.

18,372

18,208

FW2044634.UP.FTS.B,

31.42%,

11/15/26

.

3,373

3,344

FW2049085.UP.FTS.B,

31.63%,

11/15/26

.

9,405

1,408

FW2048610.UP.FTS.B,

31.92%,

11/15/26

.

6,095

6,043

FW2047371.UP.FTS.B,

32.56%,

11/15/26

.

20,273

19,218

FW2096102.UP.FTS.B,

7.51%,

11/22/26

..

7,540

7,500

L2094161.UP.FTS.B,

9.77%,

11/22/26

....

17,854

17,762

L2094728.UP.FTS.B,

10%,

11/22/26

.....

3,573

3,547

L2096355.UP.FTS.B,

11.72%,

11/22/26

...

8,975

8,911

L2094764.UP.FTS.B,

11.93%,

11/22/26

...

2,694

2,675

FW2094906.UP.FTS.B,

12.24%,

11/22/26

.

2,426

2,409

FW2083090.UP.FTS.B,

12.64%,

11/22/26

.

877

870

L2094888.UP.FTS.B,

12.99%,

11/22/26

...

1,351

1,341

L2095193.UP.FTS.B,

13.04%,

11/22/26

...

6,420

6,048

FW2094840.UP.FTS.B,

13.13%,

11/22/26

.

22,534

22,361

L2094418.UP.FTS.B,

13.53%,

11/22/26

...

4,505

4,473

L2095349.UP.FTS.B,

13.57%,

11/22/26

...

3,788

3,761

L2096451.UP.FTS.B,

13.69%,

11/22/26

...

992

985

FW2094706.UP.FTS.B,

14.02%,

11/22/26

.

14,898

14,794

L2096519.UP.FTS.B,

14.25%,

11/22/26

...

9,576

9,509

L2096414.UP.FTS.B,

14.36%,

11/22/26

...

6,212

5,851

FW2094373.UP.FTS.B,

14.38%,

11/22/26

.

9,488

9,422

L2095141.UP.FTS.B,

14.76%,

11/22/26

...

2,751

2,591

L2096106.UP.FTS.B,

15.93%,

11/22/26

...

6,381

455

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

121

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2092869.UP.FTS.B,

15.96%,

11/22/26

...

$

10,887

$

10,811

L2094766.UP.FTS.B,

16.38%,

11/22/26

...

3,633

3,596

FW2096834.UP.FTS.B,

16.52%,

11/22/26

.

2,725

2,698

L2094403.UP.FTS.B,

16.85%,

11/22/26

...

6,340

6,275

FW2095326.UP.FTS.B,

16.9%,

11/22/26

..

4,547

4,501

L2096975.UP.FTS.B,

17%,

11/22/26

.....

22,743

22,515

L2095314.UP.FTS.B,

17.06%,

11/22/26

...

22,741

22,514

L2096303.UP.FTS.B,

17.14%,

11/22/26

...

7,280

7,229

L2095105.UP.FTS.B,

17.31%,

11/22/26

...

19,482

18,368

FW2094890.UP.FTS.B,

17.34%,

11/22/26

.

13,654

13,517

FW2096040.UP.FTS.B,

17.38%,

11/22/26

.

922

890

FW2094328.UP.FTS.B,

17.48%,

11/22/26

.

9,042

8,928

FW2096292.UP.FTS.B,

18.39%,

11/22/26

.

7,848

7,751

L2094851.UP.FTS.B,

18.61%,

11/22/26

...

41,823

41,398

FW2096255.UP.FTS.B,

18.65%,

11/22/26

.

23,392

6,595

FW2096280.UP.FTS.B,

19.26%,

11/22/26

.

9,102

9,050

L2096899.UP.FTS.B,

19.33%,

11/22/26

...

14,632

14,452

L2096144.UP.FTS.B,

19.54%,

11/22/26

...

13,681

13,511

L2095820.UP.FTS.B,

19.69%,

11/22/26

...

10,031

9,906

L2093917.UP.FTS.B,

19.94%,

11/22/26

...

10,989

10,854

FW2096158.UP.FTS.B,

19.95%,

11/22/26

.

4,579

4,523

FW2094159.UP.FTS.B,

20.44%,

11/22/26

.

8,618

8,512

FW2096653.UP.FTS.B,

20.55%,

11/22/26

.

5,883

424

L2094528.UP.FTS.B,

21.15%,

11/22/26

...

6,853

6,783

FW2096571.UP.FTS.B,

21.28%,

11/22/26

.

2,756

2,741

L2088829.UP.FTS.B,

21.32%,

11/22/26

...

9,186

9,073

L2095646.UP.FTS.B,

21.32%,

11/22/26

...

1,372

1,358

FW2095024.UP.FTS.B,

21.71%,

11/22/26

.

1,023

972

L2096760.UP.FTS.B,

21.84%,

11/22/26

...

10,116

10,061

L2096857.UP.FTS.B,

21.9%,

11/22/26

....

32,569

30,700

FW2095752.UP.FTS.B,

22.05%,

11/22/26

.

14,261

14,086

L2094894.UP.FTS.B,

22.2%,

11/22/26

....

1,366

1,350

FW2094746.UP.FTS.B,

22.41%,

11/22/26

.

13,785

13,689

L2096134.UP.FTS.B,

22.43%,

11/22/26

...

5,985

5,912

L2096905.UP.FTS.B,

22.44%,

11/22/26

...

23,027

22,746

L2094154.UP.FTS.B,

22.63%,

11/22/26

...

28,370

26,965

L2096800.UP.FTS.B,

22.67%,

11/22/26

...

18,436

18,336

FW2095579.UP.FTS.B,

22.78%,

11/22/26

.

23,037

22,809

FW2095395.UP.FTS.B,

22.89%,

11/22/26

.

1,610

1,589

L2093911.UP.FTS.B,

23.08%,

11/22/26

...

1,810

279

FW2096115.UP.FTS.B,

23.24%,

11/22/26

.

2,952

2,936

FW2095271.UP.FTS.B,

23.29%,

11/22/26

.

16,236

16,148

FW2024402.UP.FTS.B,

24.5%,

11/22/26

..

11,097

11,037

L2096773.UP.FTS.B,

24.83%,

11/22/26

...

2,836

2,697

L2094789.UP.FTS.B,

24.85%,

11/22/26

...

18,399

18,292

L2085074.UP.FTS.B,

25.06%,

11/22/26

...

1,018

1,013

L2096034.UP.FTS.B,

25.07%,

11/22/26

...

1,474

106

FW2095223.UP.FTS.B,

25.09%,

11/22/26

.

4,629

4,604

L2094507.UP.FTS.B,

25.13%,

11/22/26

...

1,204

1,189

FW2094132.UP.FTS.B,

25.16%,

11/22/26

.

5,730

885

L2094312.UP.FTS.B,

25.16%,

11/22/26

...

27,965

27,814

L2096046.UP.FTS.B,

25.18%,

11/22/26

...

880

872

L2094838.UP.FTS.B,

25.25%,

11/22/26

...

3,890

3,869

L2096356.UP.FTS.B,

25.27%,

11/22/26

...

926

921

L2093956.UP.FTS.B,

25.33%,

11/22/26

...

3,150

3,133

L2096178.UP.FTS.B,

25.35%,

11/22/26

...

16,458

16,354

L2096755.UP.FTS.B,

25.38%,

11/22/26

...

13,399

13,325

L2094459.UP.FTS.B,

25.39%,

11/22/26

...

1,390

1,382

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L2095545.UP.FTS.B,

25.48%,

11/22/26

...

$

2,371

$

2,273

L2096619.UP.FTS.B,

25.51%,

11/22/26

...

10,528

739

L2095154.UP.FTS.B,

25.65%,

11/22/26

...

3,725

3,511

L2094965.UP.FTS.B,

25.66%,

11/22/26

...

3,793

3,773

FW2095277.UP.FTS.B,

25.75%,

11/22/26

.

13,907

13,832

FW2094367.UP.FTS.B,

25.82%,

11/22/26

.

4,637

4,612

L2094270.UP.FTS.B,

25.87%,

11/22/26

...

2,968

2,951

FW2094830.UP.FTS.B,

26.46%,

11/22/26

.

1,857

1,847

FW2094882.UP.FTS.B,

26.76%,

11/22/26

.

9,757

687

FW2096631.UP.FTS.B,

26.76%,

11/22/26

.

3,716

3,696

FW2095637.UP.FTS.B,

26.8%,

11/22/26

..

3,683

3,661

FW2095720.UP.FTS.B,

27.1%,

11/22/26

..

9,133

9,072

FW2094585.UP.FTS.B,

27.16%,

11/22/26

.

4,767

4,534

FW2094718.UP.FTS.B,

27.18%,

11/22/26

.

9,297

9,247

FW2073665.UP.FTS.B,

27.21%,

11/22/26

.

3,720

3,700

L2096054.UP.FTS.B,

27.38%,

11/22/26

...

3,069

3,053

FW2095823.UP.FTS.B,

27.47%,

11/22/26

.

6,791

6,754

L2096384.UP.FTS.B,

27.83%,

11/22/26

...

8,564

8,518

FW2095268.UP.FTS.B,

28.13%,

11/22/26

.

4,657

4,632

FW2095190.UP.FTS.B,

28.27%,

11/22/26

.

3,012

2,864

FW2096342.UP.FTS.B,

28.48%,

11/22/26

.

4,660

4,635

FW2094419.UP.FTS.B,

28.57%,

11/22/26

.

932

927

FW2094402.UP.FTS.B,

28.65%,

11/22/26

.

3,289

516

FW2095378.UP.FTS.B,

29.05%,

11/22/26

.

8,399

8,354

FW2096376.UP.FTS.B,

29.09%,

11/22/26

.

5,167

5,135

FW2095351.UP.FTS.B,

29.21%,

11/22/26

.

22,751

1,609

FW2095953.UP.FTS.B,

29.33%,

11/22/26

.

4,678

4,647

FW2096022.UP.FTS.B,

29.48%,

11/22/26

.

14,005

13,930

FW2094320.UP.FTS.B,

29.51%,

11/22/26

.

15,545

15,438

FW2088883.UP.FTS.B,

29.82%,

11/22/26

.

1,904

568

FW2094834.UP.FTS.B,

29.86%,

11/22/26

.

4,672

4,647

FW2096177.UP.FTS.B,

29.94%,

11/22/26

.

5,663

5,385

FW2071752.UP.FTS.B,

30.07%,

11/22/26

.

5,157

5,126

FW2094693.UP.FTS.B,

30.21%,

11/22/26

.

2,972

2,954

FW2095758.UP.FTS.B,

30.37%,

11/22/26

.

11,222

11,162

FW2094704.UP.FTS.B,

30.41%,

11/22/26

.

1,462

1,453

FW2095770.UP.FTS.B,

30.45%,

11/22/26

.

10,766

10,237

FW2094263.UP.FTS.B,

30.68%,

11/22/26

.

3,604

3,579

FW2096500.UP.FTS.B,

30.74%,

11/22/26

.

4,861

337

FW2096286.UP.FTS.B,

30.75%,

11/22/26

.

2,979

2,961

FW2096279.UP.FTS.B,

30.8%,

11/22/26

..

1,123

1,117

FW2095290.UP.FTS.B,

30.84%,

11/22/26

.

4,664

323

FW2096578.UP.FTS.B,

30.87%,

11/22/26

.

2,505

2,490

FW2096310.UP.FTS.B,

31%,

11/22/26

...

3,105

3,081

FW2096685.UP.FTS.B,

31.01%,

11/22/26

.

9,122

8,673

FW2083347.UP.FTS.B,

31.08%,

11/22/26

.

11,237

11,177

FW2094909.UP.FTS.B,

31.13%,

11/22/26

.

8,650

8,600

FW2093970.UP.FTS.B,

31.15%,

11/22/26

.

2,236

675

FW2094919.UP.FTS.B,

31.15%,

11/22/26

.

3,371

3,353

FW2094058.UP.FTS.B,

31.18%,

11/22/26

.

1,490

1,482

FW2095701.UP.FTS.B,

31.2%,

11/22/26

..

1,030

1,024

FW2094521.UP.FTS.B,

31.21%,

11/22/26

.

2,690

799

FW2094660.UP.FTS.B,

31.22%,

11/22/26

.

10,154

10,095

FW2095096.UP.FTS.B,

31.32%,

11/22/26

.

3,453

3,433

FW2096663.UP.FTS.B,

31.48%,

11/22/26

.

4,688

4,663

FW2096531.UP.FTS.B,

31.54%,

11/22/26

.

5,000

1,618

FW2089645.UP.FTS.B,

31.75%,

11/22/26

.

8,906

8,859

FW2096662.UP.FTS.B,

31.94%,

11/22/26

.

10,597

10,541

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

122

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

FW2295931.UP.FTS.B,

5.9%,

12/21/26

...

$

13,467

$

13,423

FW2293082.UP.FTS.B,

6.16%,

12/21/26

..

4,207

4,193

FW2293764.UP.FTS.B,

6.23%,

12/21/26

..

19,764

19,700

L2296513.UP.FTS.B,

7.11%,

12/21/26

....

3,396

3,384

FW2293501.UP.FTS.B,

7.39%,

12/21/26

..

6,669

6,634

FW2293852.UP.FTS.B,

7.5%,

12/21/26

...

23,889

23,765

L2292686.UP.FTS.B,

7.74%,

12/21/26

....

2,706

2,692

L2295874.UP.FTS.B,

7.93%,

12/21/26

....

6,564

6,530

L2293167.UP.FTS.B,

8.19%,

12/21/26

....

7,224

7,187

L2295697.UP.FTS.B,

8.34%,

12/21/26

....

1,084

1,078

FW2294735.UP.FTS.B,

8.57%,

12/21/26

..

3,600

3,581

L2295880.UP.FTS.B,

8.72%,

12/21/26

....

2,713

2,699

L2288895.UP.FTS.B,

8.82%,

12/21/26

....

2,985

2,969

L2295428.UP.FTS.B,

9.02%,

12/21/26

....

18,098

18,005

L2295310.UP.FTS.B,

9.3%,

12/21/26

....

7,244

7,207

L2296054.UP.FTS.B,

9.4%,

12/21/26

....

8,695

8,651

FW2294010.UP.FTS.B,

9.53%,

12/21/26

..

13,591

13,521

L2294640.UP.FTS.B,

9.73%,

12/21/26

....

2,991

2,970

L2293293.UP.FTS.B,

10.2%,

12/21/26

....

13,617

13,550

FW2292661.UP.FTS.B,

10.72%,

12/21/26

.

13,960

13,152

L2295873.UP.FTS.B,

11.31%,

12/21/26

...

27,297

27,159

FW2293338.UP.FTS.B,

11.67%,

12/21/26

.

16,392

16,274

FW2295605.UP.FTS.B,

11.71%,

12/21/26

.

4,640

4,371

FW2294642.UP.FTS.B,

11.72%,

12/21/26

.

5,465

5,425

L2294383.UP.FTS.B,

12.3%,

12/21/26

....

5,467

5,427

L2294345.UP.FTS.B,

12.41%,

12/21/26

...

7,756

7,700

L2292250.UP.FTS.B,

12.42%,

12/21/26

...

10,491

10,415

L2293790.UP.FTS.B,

12.43%,

12/21/26

...

4,561

4,529

L2288385.UP.FTS.B,

12.86%,

12/21/26

...

4,566

4,533

L2295080.UP.FTS.B,

13.33%,

12/21/26

...

6,856

6,807

L2294220.UP.FTS.B,

13.69%,

12/21/26

...

5,490

5,450

L2294373.UP.FTS.B,

13.7%,

12/21/26

....

4,849

4,814

L2294790.UP.FTS.B,

13.78%,

12/21/26

...

5,948

5,906

FW2294402.UP.FTS.B,

13.84%,

12/21/26

.

16,016

15,901

FW2293544.UP.FTS.B,

14.04%,

12/21/26

.

4,299

601

L2294148.UP.FTS.B,

14.17%,

12/21/26

...

5,152

1,329

L2296399.UP.FTS.B,

14.35%,

12/21/26

...

9,163

9,097

L2295213.UP.FTS.B,

14.68%,

12/21/26

...

4,647

4,376

L2258143.UP.FTS.B,

14.69%,

12/21/26

...

19,256

19,118

L2295702.UP.FTS.B,

14.73%,

12/21/26

...

3,668

3,642

L2294654.UP.FTS.B,

15.21%,

12/21/26

...

9,180

9,115

L2296190.UP.FTS.B,

15.78%,

12/21/26

...

23,571

6,095

FW2293923.UP.FTS.B,

16.04%,

12/21/26

.

4,512

4,463

L2295643.UP.FTS.B,

16.65%,

12/21/26

...

1,692

1,675

L2294540.UP.FTS.B,

16.91%,

12/21/26

...

4,607

4,559

L2295861.UP.FTS.B,

17.13%,

12/21/26

...

4,781

713

L2293185.UP.FTS.B,

17.25%,

12/21/26

...

13,828

13,653

FW2293821.UP.FTS.B,

17.3%,

12/21/26

..

1,660

1,648

L2296049.UP.FTS.B,

17.33%,

12/21/26

...

4,611

4,563

FW2293524.UP.FTS.B,

17.65%,

12/21/26

.

27,683

27,397

L2293602.UP.FTS.B,

17.68%,

12/21/26

...

9,687

9,587

L2293520.UP.FTS.B,

17.78%,

12/21/26

...

4,615

4,557

L2294758.UP.FTS.B,

17.93%,

12/21/26

...

45,727

43,151

L2295430.UP.FTS.B,

18.6%,

12/21/26

....

13,395

13,220

L2293291.UP.FTS.B,

18.66%,

12/21/26

...

2,401

2,376

L2295608.UP.FTS.B,

18.98%,

12/21/26

...

9,253

9,136

FW2293617.UP.FTS.B,

19.06%,

12/21/26

.

6,478

6,411

FW2294886.UP.FTS.B,

19.07%,

12/21/26

.

1,851

1,832

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L2295776.UP.FTS.B,

19.35%,

12/21/26

...

$

1,389

$

1,375

FW2293806.UP.FTS.B,

19.41%,

12/21/26

.

7,376

7,298

L2294559.UP.FTS.B,

19.51%,

12/21/26

...

6,636

1,931

L2296294.UP.FTS.B,

19.65%,

12/21/26

...

1,622

1,600

FW2289691.UP.FTS.B,

20.05%,

12/21/26

.

4,636

4,606

L2293347.UP.FTS.B,

20.07%,

12/21/26

...

27,819

27,466

FW2296073.UP.FTS.B,

20.65%,

12/21/26

.

3,993

3,967

L2293707.UP.FTS.B,

21.03%,

12/21/26

...

6,968

6,880

L2295159.UP.FTS.B,

21.2%,

12/21/26

....

3,067

3,047

L2294842.UP.FTS.B,

21.22%,

12/21/26

...

4,647

4,617

L2259929.UP.FTS.B,

21.46%,

12/21/26

...

6,654

1,887

L2296434.UP.FTS.B,

21.52%,

12/21/26

...

2,325

2,295

L2293516.UP.FTS.B,

21.61%,

12/21/26

...

1,506

1,493

L2294636.UP.FTS.B,

21.75%,

12/21/26

...

30,236

29,849

FW2292759.UP.FTS.B,

21.98%,

12/21/26

.

23,733

23,490

FW2295227.UP.FTS.B,

22.11%,

12/21/26

.

4,708

4,470

FW2296031.UP.FTS.B,

22.11%,

12/21/26

.

4,189

4,162

L2295422.UP.FTS.B,

22.2%,

12/21/26

....

3,352

3,330

L2296037.UP.FTS.B,

22.38%,

12/21/26

...

4,613

4,580

L2294550.UP.FTS.B,

22.46%,

12/21/26

...

4,774

4,535

L2286942.UP.FTS.B,

22.51%,

12/21/26

...

2,121

2,105

L2293386.UP.FTS.B,

22.55%,

12/21/26

...

7,454

7,405

L2294387.UP.FTS.B,

22.74%,

12/21/26

...

3,728

3,704

L2294767.UP.FTS.B,

23.15%,

12/21/26

...

2,426

2,410

L2295258.UP.FTS.B,

23.19%,

12/21/26

...

5,060

5,026

L2290213.UP.FTS.B,

23.47%,

12/21/26

...

6,381

289

FW2296289.UP.FTS.B,

23.69%,

12/21/26

.

7,656

7,268

L2296095.UP.FTS.B,

23.73%,

12/21/26

...

9,307

9,245

FW2295460.UP.FTS.B,

23.88%,

12/21/26

.

25,528

24,080

L2295502.UP.FTS.B,

23.94%,

12/21/26

...

9,154

9,095

FW2294358.UP.FTS.B,

24.02%,

12/21/26

.

2,057

2,042

FW2289917.UP.FTS.B,

24.12%,

12/21/26

.

4,511

4,463

L2295515.UP.FTS.B,

24.19%,

12/21/26

...

14,018

13,927

L2295990.UP.FTS.B,

24.34%,

12/21/26

...

4,070

4,041

L2293012.UP.FTS.B,

24.54%,

12/21/26

...

2,805

2,770

L2293989.UP.FTS.B,

24.69%,

12/21/26

...

2,806

2,788

L2294601.UP.FTS.B,

24.7%,

12/21/26

....

46,769

46,464

FW2296310.UP.FTS.B,

24.81%,

12/21/26

.

2,807

2,789

L2288373.UP.FTS.B,

24.94%,

12/21/26

...

936

930

L2296094.UP.FTS.B,

25.1%,

12/21/26

....

2,577

2,558

FW2295879.UP.FTS.B,

25.12%,

12/21/26

.

20,588

20,454

L2296142.UP.FTS.B,

25.12%,

12/21/26

...

1,030

1,023

FW2295152.UP.FTS.B,

25.13%,

12/21/26

.

9,329

9,266

L2293653.UP.FTS.B,

25.22%,

12/21/26

...

1,592

1,582

L2246443.UP.FTS.B,

25.23%,

12/21/26

...

1,030

1,023

L2295296.UP.FTS.B,

25.25%,

12/21/26

...

1,217

1,209

L2295322.UP.FTS.B,

25.28%,

12/21/26

...

4,048

4,016

L2295069.UP.FTS.B,

25.39%,

12/21/26

...

2,029

2,014

L2294834.UP.FTS.B,

25.4%,

12/21/26

....

1,030

1,014

L2293969.UP.FTS.B,

25.41%,

12/21/26

...

12,329

12,246

L2296171.UP.FTS.B,

25.41%,

12/21/26

...

2,154

2,140

L2296117.UP.FTS.B,

25.43%,

12/21/26

...

1,499

1,489

L2294392.UP.FTS.B,

25.44%,

12/21/26

...

18,077

17,959

L2295431.UP.FTS.B,

25.44%,

12/21/26

...

12,084

11,932

L2287500.UP.FTS.B,

25.45%,

12/21/26

...

6,073

6,032

L2292073.UP.FTS.B,

25.46%,

12/21/26

...

2,810

2,792

L2296002.UP.FTS.B,

25.46%,

12/21/26

...

1,514

1,427

L2296315.UP.FTS.B,

25.46%,

12/21/26

...

4,656

4,623

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

123

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2295630.UP.FTS.B,

25.47%,

12/21/26

...

$

6,436

$

6,112

L2293509.UP.FTS.B,

25.48%,

12/21/26

...

1,956

1,942

L2293438.UP.FTS.B,

25.49%,

12/21/26

...

6,089

6,049

L2293794.UP.FTS.B,

25.5%,

12/21/26

....

2,154

2,140

L2295101.UP.FTS.B,

25.65%,

12/21/26

...

2,531

2,511

L2293224.UP.FTS.B,

25.74%,

12/21/26

...

1,687

1,676

FW2294336.UP.FTS.B,

25.77%,

12/21/26

.

4,256

4,225

FW2295890.UP.FTS.B,

25.77%,

12/21/26

.

8,997

8,938

L2295704.UP.FTS.B,

25.79%,

12/21/26

...

5,308

816

FW2294081.UP.FTS.B,

25.98%,

12/21/26

.

9,257

654

L2295504.UP.FTS.B,

26%,

12/21/26

.....

7,785

7,392

FW2296027.UP.FTS.B,

26.18%,

12/21/26

.

4,220

4,193

FW2272171.UP.FTS.B,

26.33%,

12/21/26

.

23,451

23,299

L2294417.UP.FTS.B,

26.45%,

12/21/26

...

27,372

27,188

FW2293250.UP.FTS.B,

26.48%,

12/21/26

.

1,900

1,805

FW2296139.UP.FTS.B,

26.64%,

12/21/26

.

6,547

6,503

FW2295132.UP.FTS.B,

26.71%,

12/21/26

.

33,230

33,013

FW2293665.UP.FTS.B,

26.78%,

12/21/26

.

15,272

15,167

L2289495.UP.FTS.B,

27.03%,

12/21/26

...

4,884

4,822

FW2293337.UP.FTS.B,

27.46%,

12/21/26

.

4,699

4,669

FW2296329.UP.FTS.B,

27.9%,

12/21/26

..

3,461

3,437

FW2294323.UP.FTS.B,

28.23%,

12/21/26

.

1,882

1,870

FW2294584.UP.FTS.B,

28.34%,

12/21/26

.

5,171

4,913

FW2294924.UP.FTS.B,

28.38%,

12/21/26

.

5,459

5,424

L2296578.UP.FTS.B,

28.56%,

12/21/26

...

4,614

4,584

FW2294602.UP.FTS.B,

28.58%,

12/21/26

.

6,655

6,321

FW2294247.UP.FTS.B,

28.6%,

12/21/26

..

5,757

5,717

FW2296510.UP.FTS.B,

28.63%,

12/21/26

.

6,309

6,268

FW2293608.UP.FTS.B,

28.99%,

12/21/26

.

9,401

2,793

FW2295693.UP.FTS.B,

29.44%,

12/21/26

.

2,274

2,252

FW2292307.UP.FTS.B,

29.55%,

12/21/26

.

13,958

13,867

FW2293618.UP.FTS.B,

29.66%,

12/21/26

.

1,920

571

FW2294300.UP.FTS.B,

29.67%,

12/21/26

.

4,735

4,703

FW2296196.UP.FTS.B,

29.85%,

12/21/26

.

1,038

1,031

FW2293867.UP.FTS.B,

30.1%,

12/21/26

..

9,631

9,154

FW2295194.UP.FTS.B,

30.14%,

12/21/26

.

35,618

35,283

FW2293261.UP.FTS.B,

30.26%,

12/21/26

.

1,038

1,032

FW2295412.UP.FTS.B,

30.28%,

12/21/26

.

17,602

16,729

FW2295743.UP.FTS.B,

30.31%,

12/21/26

.

7,675

7,293

FW2294598.UP.FTS.B,

30.58%,

12/21/26

.

3,023

3,003

FW2295156.UP.FTS.B,

30.61%,

12/21/26

.

1,984

1,971

FW2295843.UP.FTS.B,

30.82%,

12/21/26

.

5,228

363

FW2295730.UP.FTS.B,

30.86%,

12/21/26

.

853

841

FW2296110.UP.FTS.B,

30.89%,

12/21/26

.

1,040

1,033

FW2296255.UP.FTS.B,

30.89%,

12/21/26

.

1,324

1,279

FW2294105.UP.FTS.B,

30.94%,

12/21/26

.

12,354

12,272

FW2295248.UP.FTS.B,

30.94%,

12/21/26

.

3,591

3,568

FW2294618.UP.FTS.B,

30.98%,

12/21/26

.

1,050

997

FW2295082.UP.FTS.B,

31.01%,

12/21/26

.

962

914

FW2293727.UP.FTS.B,

31.05%,

12/21/26

.

1,418

1,409

FW2292873.UP.FTS.B,

31.09%,

12/21/26

.

954

906

FW2295721.UP.FTS.B,

31.1%,

12/21/26

..

1,891

1,878

FW2293310.UP.FTS.B,

31.11%,

12/21/26

.

1,702

1,691

FW2294827.UP.FTS.B,

31.11%,

12/21/26

.

1,863

1,849

FW2292845.UP.FTS.B,

31.12%,

12/21/26

.

2,647

2,630

FW2293069.UP.FTS.B,

31.16%,

12/21/26

.

1,782

1,769

FW2293588.UP.FTS.B,

31.17%,

12/21/26

.

945

939

FW2295496.UP.FTS.B,

31.18%,

12/21/26

.

2,553

2,536

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW2296051.UP.FTS.B,

31.18%,

12/21/26

.

$

1,155

$

1,098

FW2294223.UP.FTS.B,

31.19%,

12/21/26

.

22,881

22,732

FW2292945.UP.FTS.B,

31.23%,

12/21/26

.

2,458

2,442

FW2293724.UP.FTS.B,

31.23%,

12/21/26

.

3,559

3,382

FW2296267.UP.FTS.B,

31.25%,

12/21/26

.

4,736

328

FW2293434.UP.FTS.B,

31.29%,

12/21/26

.

1,627

1,545

FW2293684.UP.FTS.B,

31.29%,

12/21/26

.

2,837

2,818

FW2293376.UP.FTS.B,

31.54%,

12/21/26

.

35,759

35,526

FW2295823.UP.FTS.B,

31.65%,

12/21/26

.

4,889

343

FW2295966.UP.FTS.B,

31.81%,

12/21/26

.

2,839

2,821

FW2295529.UP.FTS.B,

32.21%,

12/21/26

.

6,197

6,157

FW2295899.UP.FTS.B,

32.71%,

12/21/26

.

4,334

4,304

L2298042.UP.FTS.B,

5.42%,

12/22/26

....

8,966

8,940

FW2296838.UP.FTS.B,

5.56%,

12/22/26

..

10,764

10,732

L2300162.UP.FTS.B,

5.78%,

12/22/26

....

1,346

1,343

L2298149.UP.FTS.B,

5.81%,

12/22/26

....

42,186

42,063

L2294153.UP.FTS.B,

5.94%,

12/22/26

....

24,692

24,619

L2298867.UP.FTS.B,

6.47%,

12/22/26

....

13,037

13,000

L2298677.UP.FTS.B,

6.71%,

12/22/26

....

3,144

3,135

FW2298647.UP.FTS.B,

6.85%,

12/22/26

..

44,999

44,871

L2296512.UP.FTS.B,

6.86%,

12/22/26

....

27,000

26,924

FW2299026.UP.FTS.B,

7.03%,

12/22/26

..

4,502

4,481

L2299006.UP.FTS.B,

7.25%,

12/22/26

....

14,342

14,277

L2298624.UP.FTS.B,

7.52%,

12/22/26

....

31,543

31,393

L2298796.UP.FTS.B,

7.68%,

12/22/26

....

1,833

1,726

L2298372.UP.FTS.B,

7.96%,

12/22/26

....

20,105

4,901

L2300059.UP.FTS.B,

7.96%,

12/22/26

....

4,609

4,343

L2275604.UP.FTS.B,

8%,

12/22/26

......

9,026

8,984

L2298268.UP.FTS.B,

8.16%,

12/22/26

....

18,060

17,975

L2299805.UP.FTS.B,

8.23%,

12/22/26

....

1,986

1,974

FW2297741.UP.FTS.B,

8.43%,

12/22/26

..

5,421

5,396

L2296751.UP.FTS.B,

9.09%,

12/22/26

....

5,430

5,405

L2299887.UP.FTS.B,

9.18%,

12/22/26

....

9,053

9,011

L2297168.UP.FTS.B,

9.21%,

12/22/26

....

4,525

4,504

FW2300319.UP.FTS.B,

9.33%,

12/22/26

..

3,804

3,786

L2275171.UP.FTS.B,

9.45%,

12/22/26

....

2,265

2,254

L2299890.UP.FTS.B,

9.98%,

12/22/26

....

5,442

5,406

L2299170.UP.FTS.B,

10.02%,

12/22/26

...

6,937

6,538

FW2275119.UP.FTS.B,

10.09%,

12/22/26

.

27,218

27,095

L2261699.UP.FTS.B,

10.41%,

12/22/26

...

3,632

3,616

FW2298451.UP.FTS.B,

10.42%,

12/22/26

.

10,896

10,824

L2299578.UP.FTS.B,

10.73%,

12/22/26

...

3,998

3,972

L2296896.UP.FTS.B,

10.8%,

12/22/26

....

2,727

2,709

L2296884.UP.FTS.B,

10.85%,

12/22/26

...

9,089

9,030

FW2300491.UP.FTS.B,

11.05%,

12/22/26

.

2,546

2,529

L2298368.UP.FTS.B,

11.21%,

12/22/26

...

4,318

4,286

L2300049.UP.FTS.B,

11.22%,

12/22/26

...

22,743

22,594

L2298066.UP.FTS.B,

11.27%,

12/22/26

...

5,459

5,423

L2299084.UP.FTS.B,

11.37%,

12/22/26

...

7,280

7,233

L2299517.UP.FTS.B,

11.74%,

12/22/26

...

11,404

11,331

L2299162.UP.FTS.B,

11.99%,

12/22/26

...

10,882

10,810

L2296860.UP.FTS.B,

12.01%,

12/22/26

...

16,405

16,333

L2288091.UP.FTS.B,

12.04%,

12/22/26

...

9,115

9,056

L2296913.UP.FTS.B,

12.48%,

12/22/26

...

9,671

9,609

L2298756.UP.FTS.B,

12.5%,

12/22/26

....

45,622

45,328

FW2296819.UP.FTS.B,

12.8%,

12/22/26

..

913

907

L2297376.UP.FTS.B,

12.81%,

12/22/26

...

13,696

13,608

L2297301.UP.FTS.B,

13.19%,

12/22/26

...

4,548

4,518

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

124

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2297394.UP.FTS.B,

13.43%,

12/22/26

...

$

3,657

$

3,634

FW2295002.UP.FTS.B,

13.45%,

12/22/26

.

1,555

1,545

FW2297474.UP.FTS.B,

13.74%,

12/22/26

.

7,048

987

L2299489.UP.FTS.B,

13.74%,

12/22/26

...

27,451

27,276

L2298438.UP.FTS.B,

13.79%,

12/22/26

...

18,332

18,218

L2298273.UP.FTS.B,

13.81%,

12/22/26

...

24,710

24,553

FW2297621.UP.FTS.B,

13.91%,

12/22/26

.

2,135

2,121

FW2297887.UP.FTS.B,

14.01%,

12/22/26

.

8,241

8,189

L2297583.UP.FTS.B,

14.22%,

12/22/26

...

17,129

17,021

FW2296544.UP.FTS.B,

14.31%,

12/22/26

.

4,581

4,552

L2297567.UP.FTS.B,

14.38%,

12/22/26

...

716

709

L2296355.UP.FTS.B,

14.84%,

12/22/26

...

9,350

8,823

L2296958.UP.FTS.B,

14.87%,

12/22/26

...

7,904

7,830

L2298646.UP.FTS.B,

14.93%,

12/22/26

...

32,110

31,808

L2296665.UP.FTS.B,

14.98%,

12/22/26

...

9,158

9,071

L2272259.UP.FTS.B,

15.03%,

12/22/26

...

3,656

3,621

L2296608.UP.FTS.B,

15.19%,

12/22/26

...

15,513

15,416

L2300702.UP.FTS.B,

15.45%,

12/22/26

...

31,715

31,522

L2298101.UP.FTS.B,

15.46%,

12/22/26

...

4,512

4,459

FW2298689.UP.FTS.B,

15.52%,

12/22/26

.

16,076

15,925

FW2298989.UP.FTS.B,

15.65%,

12/22/26

.

6,894

6,829

L2300266.UP.FTS.B,

15.81%,

12/22/26

...

19,946

19,822

L2297545.UP.FTS.B,

16.01%,

12/22/26

...

3,678

3,656

L2296898.UP.FTS.B,

16.28%,

12/22/26

...

10,029

9,936

FW2298789.UP.FTS.B,

16.35%,

12/22/26

.

7,480

7,401

FW2297895.UP.FTS.B,

16.41%,

12/22/26

.

2,752

2,726

L2297702.UP.FTS.B,

16.54%,

12/22/26

...

1,381

1,368

FW2296865.UP.FTS.B,

16.7%,

12/22/26

..

9,209

9,124

FW2296844.UP.FTS.B,

16.78%,

12/22/26

.

2,294

2,272

FW2297240.UP.FTS.B,

16.99%,

12/22/26

.

19,690

19,574

L2296757.UP.FTS.B,

16.99%,

12/22/26

...

5,529

5,495

L2299229.UP.FTS.B,

17.12%,

12/22/26

...

5,495

5,443

FW2242642.UP.FTS.B,

17.23%,

12/22/26

.

6,429

6,368

FW2297226.UP.FTS.B,

17.41%,

12/22/26

.

11,950

11,838

L2297622.UP.FTS.B,

17.73%,

12/22/26

...

5,440

5,405

FW2298313.UP.FTS.B,

17.76%,

12/22/26

.

14,030

13,900

FW2295364.UP.FTS.B,

17.88%,

12/22/26

.

4,616

4,573

L2299334.UP.FTS.B,

17.94%,

12/22/26

...

1,016

1,010

L2297195.UP.FTS.B,

18.28%,

12/22/26

...

24,024

23,879

L2286999.UP.FTS.B,

18.31%,

12/22/26

...

38,357

36,168

L2263482.UP.FTS.B,

18.35%,

12/22/26

...

13,862

13,702

L2299353.UP.FTS.B,

18.42%,

12/22/26

...

6,550

6,179

FW2299062.UP.FTS.B,

18.65%,

12/22/26

.

4,161

4,113

L2297949.UP.FTS.B,

18.76%,

12/22/26

...

3,699

3,657

L2299477.UP.FTS.B,

18.77%,

12/22/26

...

7,002

6,604

FW2295922.UP.FTS.B,

18.94%,

12/22/26

.

4,736

1,300

FW2298046.UP.FTS.B,

19.21%,

12/22/26

.

9,257

9,151

FW2299900.UP.FTS.B,

19.29%,

12/22/26

.

47,172

44,537

FW2297186.UP.FTS.B,

19.59%,

12/22/26

.

9,264

9,180

FW2299680.UP.FTS.B,

19.7%,

12/22/26

..

6,486

6,412

L2296627.UP.FTS.B,

19.74%,

12/22/26

...

4,633

4,591

L2299156.UP.FTS.B,

19.91%,

12/22/26

...

5,387

5,308

L2299695.UP.FTS.B,

19.97%,

12/22/26

...

1,391

1,375

FW2235699.UP.FTS.B,

19.99%,

12/22/26

.

6,490

6,457

L2299895.UP.FTS.B,

19.99%,

12/22/26

...

1,392

1,379

L2298480.UP.FTS.B,

20.19%,

12/22/26

...

4,565

4,510

FW2299670.UP.FTS.B,

20.32%,

12/22/26

.

9,277

9,193

L2297088.UP.FTS.B,

20.56%,

12/22/26

...

30,630

30,472

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L2298737.UP.FTS.B,

20.98%,

12/22/26

...

$

4,645

$

4,592

L2297546.UP.FTS.B,

21.15%,

12/22/26

...

1,850

1,840

L2300374.UP.FTS.B,

21.31%,

12/22/26

...

2,775

2,760

L2297370.UP.FTS.B,

21.38%,

12/22/26

...

11,156

11,029

L2296777.UP.FTS.B,

21.4%,

12/22/26

....

9,297

9,250

FW2298033.UP.FTS.B,

21.61%,

12/22/26

.

15,346

15,173

FW2300172.UP.FTS.B,

21.86%,

12/22/26

.

9,614

1,483

L2296567.UP.FTS.B,

21.87%,

12/22/26

...

1,857

1,783

L2299056.UP.FTS.B,

22%,

12/22/26

.....

5,398

5,371

L2298829.UP.FTS.B,

22.17%,

12/22/26

...

6,025

5,957

L2299086.UP.FTS.B,

22.64%,

12/22/26

...

3,355

3,338

FW2297340.UP.FTS.B,

22.67%,

12/22/26

.

4,660

4,636

FW2297460.UP.FTS.B,

22.74%,

12/22/26

.

46,609

46,374

FW2299708.UP.FTS.B,

22.93%,

12/22/26

.

4,195

4,157

L2296427.UP.FTS.B,

22.94%,

12/22/26

...

2,518

2,490

L2300367.UP.FTS.B,

22.94%,

12/22/26

...

1,865

1,844

L2296515.UP.FTS.B,

22.98%,

12/22/26

...

2,797

2,783

L2297700.UP.FTS.B,

23.06%,

12/22/26

...

42,534

42,320

FW2297374.UP.FTS.B,

23.21%,

12/22/26

.

2,117

2,015

FW2297763.UP.FTS.B,

23.23%,

12/22/26

.

2,764

2,648

L2298974.UP.FTS.B,

23.47%,

12/22/26

...

1,680

1,661

L2299701.UP.FTS.B,

23.55%,

12/22/26

...

4,201

4,154

L2296947.UP.FTS.B,

23.56%,

12/22/26

...

9,721

229

FW2300425.UP.FTS.B,

23.57%,

12/22/26

.

9,335

9,288

L2289378.UP.FTS.B,

23.7%,

12/22/26

....

5,149

4,899

L2297409.UP.FTS.B,

23.84%,

12/22/26

...

6,291

448

L2298155.UP.FTS.B,

23.84%,

12/22/26

...

12,542

284

L2296775.UP.FTS.B,

23.9%,

12/22/26

....

4,203

4,182

L2298860.UP.FTS.B,

23.92%,

12/22/26

...

14,011

13,941

L2296638.UP.FTS.B,

23.96%,

12/22/26

...

912

906

L2297921.UP.FTS.B,

24.04%,

12/22/26

...

5,606

5,578

L2300131.UP.FTS.B,

24.08%,

12/22/26

...

12,939

12,307

L2297604.UP.FTS.B,

24.33%,

12/22/26

...

1,402

1,395

L2277340.UP.FTS.B,

24.46%,

12/22/26

...

4,136

4,111

L2297755.UP.FTS.B,

24.49%,

12/22/26

...

4,820

745

FW2296565.UP.FTS.B,

24.56%,

12/22/26

.

2,151

2,140

L2297696.UP.FTS.B,

24.62%,

12/22/26

...

1,862

1,793

L2299447.UP.FTS.B,

24.64%,

12/22/26

...

1,871

1,861

L2296874.UP.FTS.B,

24.85%,

12/22/26

...

1,030

1,025

L2299809.UP.FTS.B,

24.98%,

12/22/26

...

27,913

27,764

L2300368.UP.FTS.B,

25.11%,

12/22/26

...

1,885

1,793

FW2295512.UP.FTS.B,

25.12%,

12/22/26

.

10,772

10,649

L2297730.UP.FTS.B,

25.14%,

12/22/26

...

922

917

FW2296477.UP.FTS.B,

25.18%,

12/22/26

.

933

924

L2296994.UP.FTS.B,

25.2%,

12/22/26

....

3,409

3,388

FW2298858.UP.FTS.B,

25.22%,

12/22/26

.

1,675

119

L2296549.UP.FTS.B,

25.23%,

12/22/26

...

6,927

6,893

L2299952.UP.FTS.B,

25.26%,

12/22/26

...

3,217

3,060

L2282956.UP.FTS.B,

25.27%,

12/22/26

...

928

918

L2300125.UP.FTS.B,

25.27%,

12/22/26

...

3,170

3,150

L2296651.UP.FTS.B,

25.31%,

12/22/26

...

1,458

1,440

FW2297623.UP.FTS.B,

25.32%,

12/22/26

.

3,371

3,341

L2299789.UP.FTS.B,

25.32%,

12/22/26

...

1,405

1,398

L2292373.UP.FTS.B,

25.33%,

12/22/26

...

1,592

1,574

L2297988.UP.FTS.B,

25.38%,

12/22/26

...

1,056

1,048

L2300474.UP.FTS.B,

25.38%,

12/22/26

...

2,291

2,180

L2299918.UP.FTS.B,

25.41%,

12/22/26

...

1,686

1,678

L2297428.UP.FTS.B,

25.42%,

12/22/26

...

9,366

9,320

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

125

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2298851.UP.FTS.B,

25.44%,

12/22/26

...

$

1,405

$

1,398

L2297598.UP.FTS.B,

25.45%,

12/22/26

...

1,124

1,118

L2296962.UP.FTS.B,

25.46%,

12/22/26

...

3,185

3,169

L2298544.UP.FTS.B,

25.47%,

12/22/26

...

4,643

4,618

L2298179.UP.FTS.B,

25.49%,

12/22/26

...

4,309

4,288

L2297091.UP.FTS.B,

25.5%,

12/22/26

....

3,653

3,635

L2297223.UP.FTS.B,

25.61%,

12/22/26

...

3,466

3,449

L2297547.UP.FTS.B,

25.64%,

12/22/26

...

8,807

8,710

FW2297492.UP.FTS.B,

25.9%,

12/22/26

..

46,868

46,639

L2297795.UP.FTS.B,

26.01%,

12/22/26

...

12,001

11,942

L2298706.UP.FTS.B,

26.09%,

12/22/26

...

3,000

214

FW2300597.UP.FTS.B,

26.14%,

12/22/26

.

8,895

8,835

L2296379.UP.FTS.B,

26.17%,

12/22/26

...

9,378

9,332

FW2299410.UP.FTS.B,

26.2%,

12/22/26

..

5,627

5,600

FW2298121.UP.FTS.B,

26.21%,

12/22/26

.

904

898

FW2300548.UP.FTS.B,

26.24%,

12/22/26

.

3,752

3,710

FW2300051.UP.FTS.B,

26.29%,

12/22/26

.

11,246

11,191

L2298642.UP.FTS.B,

26.29%,

12/22/26

...

14,318

568

L2298922.UP.FTS.B,

26.34%,

12/22/26

...

2,814

2,801

L2295070.UP.FTS.B,

26.38%,

12/22/26

...

8,620

8,204

FW2297423.UP.FTS.B,

26.64%,

12/22/26

.

5,733

409

FW2298545.UP.FTS.B,

26.68%,

12/22/26

.

12,765

12,703

FW2297229.UP.FTS.B,

26.75%,

12/22/26

.

12,207

12,135

L2298024.UP.FTS.B,

26.92%,

12/22/26

...

37,559

37,378

FW2298735.UP.FTS.B,

26.94%,

12/22/26

.

13,898

13,735

L2299594.UP.FTS.B,

27.23%,

12/22/26

...

4,881

1,456

FW2299436.UP.FTS.B,

27.39%,

12/22/26

.

3,922

3,901

FW2298369.UP.FTS.B,

27.48%,

12/22/26

.

16,764

16,672

FW2297780.UP.FTS.B,

27.51%,

12/22/26

.

18,661

18,449

FW2296522.UP.FTS.B,

27.68%,

12/22/26

.

17,884

17,013

FW2297812.UP.FTS.B,

27.74%,

12/22/26

.

4,325

4,305

FW2297083.UP.FTS.B,

27.85%,

12/22/26

.

14,247

13,556

FW2296934.UP.FTS.B,

28.08%,

12/22/26

.

5,363

5,337

FW2299110.UP.FTS.B,

28.13%,

12/22/26

.

14,121

14,054

FW2299013.UP.FTS.B,

28.16%,

12/22/26

.

4,751

4,521

FW2297196.UP.FTS.B,

28.3%,

12/22/26

..

9,412

9,367

FW2298568.UP.FTS.B,

28.54%,

12/22/26

.

7,156

7,122

FW2297841.UP.FTS.B,

28.6%,

12/22/26

..

5,876

922

FW2295907.UP.FTS.B,

28.62%,

12/22/26

.

3,122

484

FW2297945.UP.FTS.B,

28.62%,

12/22/26

.

8,779

8,728

FW2297303.UP.FTS.B,

28.74%,

12/22/26

.

10,175

9,683

FW2296796.UP.FTS.B,

29.02%,

12/22/26

.

23,075

22,932

FW2297886.UP.FTS.B,

29.13%,

12/22/26

.

2,948

2,805

FW2296331.UP.FTS.B,

29.64%,

12/22/26

.

2,830

2,816

FW2297392.UP.FTS.B,

29.67%,

12/22/26

.

2,001

1,988

FW2298522.UP.FTS.B,

29.71%,

12/22/26

.

3,302

3,287

FW2295810.UP.FTS.B,

29.82%,

12/22/26

.

1,274

7

FW2296795.UP.FTS.B,

30.46%,

12/22/26

.

1,417

1,410

FW2298595.UP.FTS.B,

30.48%,

12/22/26

.

7,350

272

FW2297124.UP.FTS.B,

30.5%,

12/22/26

..

5,372

45

FW2299972.UP.FTS.B,

30.53%,

12/22/26

.

1,691

1,683

FW2300011.UP.FTS.B,

30.61%,

12/22/26

.

1,039

1,034

FW2299535.UP.FTS.B,

30.63%,

12/22/26

.

1,381

96

FW2296256.UP.FTS.B,

30.68%,

12/22/26

.

3,118

3,103

FW2299999.UP.FTS.B,

30.69%,

12/22/26

.

1,876

1,866

FW2298365.UP.FTS.B,

30.7%,

12/22/26

..

3,311

3,294

FW2296458.UP.FTS.B,

30.75%,

12/22/26

.

8,126

8,088

FW2226660.UP.FTS.B,

30.82%,

12/22/26

.

4,771

4,540

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW2299169.UP.FTS.B,

30.82%,

12/22/26

.

$

3,874

$

3,856

FW2281021.UP.FTS.B,

30.86%,

12/22/26

.

5,248

5,221

FW2298599.UP.FTS.B,

30.89%,

12/22/26

.

1,323

1,317

FW2299939.UP.FTS.B,

30.93%,

12/22/26

.

1,040

1,035

FW2297499.UP.FTS.B,

30.95%,

12/22/26

.

1,040

1,035

FW2298143.UP.FTS.B,

30.98%,

12/22/26

.

3,214

3,199

FW2298652.UP.FTS.B,

30.98%,

12/22/26

.

2,048

2,026

FW2296542.UP.FTS.B,

31%,

12/22/26

...

5,484

5,459

FW2297793.UP.FTS.B,

31%,

12/22/26

...

5,081

(8)

FW2298270.UP.FTS.B,

31%,

12/22/26

...

1,510

1,502

FW2297476.UP.FTS.B,

31.04%,

12/22/26

.

2,767

2,634

FW2300108.UP.FTS.B,

31.04%,

12/22/26

.

1,229

1,223

FW2298296.UP.FTS.B,

31.07%,

12/22/26

.

13,642

12,984

FW2297165.UP.FTS.B,

31.1%,

12/22/26

..

6,145

6,116

FW2298345.UP.FTS.B,

31.12%,

12/22/26

.

1,607

1,600

FW2298637.UP.FTS.B,

31.12%,

12/22/26

.

17,953

1,244

FW2295876.UP.FTS.B,

31.13%,

12/22/26

.

13,272

3,997

FW2298159.UP.FTS.B,

31.15%,

12/22/26

.

2,742

2,729

FW2296911.UP.FTS.B,

31.17%,

12/22/26

.

1,202

1,195

FW2299655.UP.FTS.B,

31.17%,

12/22/26

.

3,782

3,764

FW2297093.UP.FTS.B,

31.19%,

12/22/26

.

946

941

FW2299990.UP.FTS.B,

31.19%,

12/22/26

.

16,267

16,193

FW2294359.UP.FTS.B,

31.33%,

12/22/26

.

47,293

47,076

FW2300018.UP.FTS.B,

31.65%,

12/22/26

.

5,204

5,180

FW2296208.UP.FTS.B,

31.74%,

12/22/26

.

6,585

114

FW2296108.UP.FTS.B,

32.09%,

12/22/26

.

7,100

7,055

FW2295360.UP.FTS.B,

32.1%,

12/22/26

..

16,635

(76)

FW2295706.UP.FTS.B,

32.31%,

12/22/26

.

9,420

2,834

FW2296337.UP.FTS.B,

33.15%,

12/22/26

.

5,612

5,346

FW2296980.UP.FTS.B,

33.56%,

12/22/26

.

1,483

1,467

L2428799.UP.FTS.B,

4.81%,

1/13/27

....

11,833

11,797

L2424153.UP.FTS.B,

4.86%,

1/13/27

....

45,095

44,955

L2426247.UP.FTS.B,

4.87%,

1/13/27

....

14,202

14,159

FW2426166.UP.FTS.B,

5.22%,

1/13/27

...

392

389

L2417962.UP.FTS.B,

5.74%,

1/13/27

....

4,553

4,540

L2424670.UP.FTS.B,

5.86%,

1/13/27

....

8,668

8,642

L2421701.UP.FTS.B,

5.91%,

1/13/27

....

21,900

21,835

L2425940.UP.FTS.B,

5.96%,

1/13/27

....

18,246

18,193

L2427954.UP.FTS.B,

5.98%,

1/13/27

....

27,379

27,298

FW2427065.UP.FTS.B,

6.14%,

1/13/27

...

7,729

7,706

L2428807.UP.FTS.B,

6.19%,

1/13/27

....

6,848

6,828

L2425627.UP.FTS.B,

6.24%,

1/13/27

....

24,861

24,795

FW2418004.UP.FTS.B,

6.27%,

1/13/27

...

27,077

26,995

L2423494.UP.FTS.B,

6.28%,

1/13/27

....

9,093

9,066

FW2426682.UP.FTS.B,

6.38%,

1/13/27

...

13,730

13,693

L2424813.UP.FTS.B,

6.62%,

1/13/27

....

16,450

16,403

L2425395.UP.FTS.B,

7.04%,

1/13/27

....

27,343

27,202

L2426387.UP.FTS.B,

7.28%,

1/13/27

....

4,119

4,107

FW2427607.UP.FTS.B,

7.35%,

1/13/27

...

14,554

14,480

L2423321.UP.FTS.B,

7.44%,

1/13/27

....

7,324

7,287

L2425992.UP.FTS.B,

7.55%,

1/13/27

....

4,854

4,840

L2426489.UP.FTS.B,

7.81%,

1/13/27

....

10,995

10,940

L2428326.UP.FTS.B,

7.87%,

1/13/27

....

9,116

9,070

L2427644.UP.FTS.B,

7.93%,

1/13/27

....

2,291

2,280

FW2427445.UP.FTS.B,

7.98%,

1/13/27

...

7,333

7,296

L2424761.UP.FTS.B,

8.01%,

1/13/27

....

5,499

5,471

FW2423719.UP.FTS.B,

8.04%,

1/13/27

...

13,843

13,773

L2426445.UP.FTS.B,

8.42%,

1/13/27

....

2,748

2,734

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

126

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

FW2426523.UP.FTS.B,

8.45%,

1/13/27

...

$

4,445

$

4,421

L2427091.UP.FTS.B,

8.49%,

1/13/27

....

6,423

6,391

L2400286.UP.FTS.B,

8.75%,

1/13/27

....

6,776

6,741

L2424441.UP.FTS.B,

8.96%,

1/13/27

....

1,813

1,804

L2428771.UP.FTS.B,

8.99%,

1/13/27

....

8,267

8,226

L2427221.UP.FTS.B,

9.21%,

1/13/27

....

3,126

3,112

FW2426991.UP.FTS.B,

9.24%,

1/13/27

...

5,514

5,487

L2427316.UP.FTS.B,

9.44%,

1/13/27

....

22,986

22,873

L2427076.UP.FTS.B,

9.69%,

1/13/27

....

7,727

7,689

L2427657.UP.FTS.B,

9.7%,

1/13/27

.....

4,595

4,573

FW2427741.UP.FTS.B,

9.76%,

1/13/27

...

7,361

7,325

FW2424161.UP.FTS.B,

9.93%,

1/13/27

...

2,026

2,017

L2425208.UP.FTS.B,

9.97%,

1/13/27

....

6,443

6,412

FW2423329.UP.FTS.B,

10.39%,

1/13/27

..

921

917

L2428214.UP.FTS.B,

10.52%,

1/13/27

....

2,488

2,476

L2423738.UP.FTS.B,

10.57%,

1/13/27

....

2,765

2,744

L2423014.UP.FTS.B,

10.64%,

1/13/27

....

24,885

24,765

FW2425927.UP.FTS.B,

10.97%,

1/13/27

..

46,115

45,774

L2400391.UP.FTS.B,

11.4%,

1/13/27

.....

32,285

32,047

L2427738.UP.FTS.B,

11.82%,

1/13/27

....

9,107

9,038

FW2425681.UP.FTS.B,

11.84%,

1/13/27

..

28,640

28,430

L2423675.UP.FTS.B,

12.15%,

1/13/27

....

6,009

5,965

FW2424413.UP.FTS.B,

12.24%,

1/13/27

..

20,783

2,850

FW2422950.UP.FTS.B,

12.73%,

1/13/27

..

6,478

6,448

L2424123.UP.FTS.B,

12.83%,

1/13/27

....

11,140

11,063

L2427199.UP.FTS.B,

12.84%,

1/13/27

....

4,876

250

L2426699.UP.FTS.B,

13.25%,

1/13/27

....

11,117

11,037

L2426346.UP.FTS.B,

13.31%,

1/13/27

....

5,350

5,296

L2426437.UP.FTS.B,

13.53%,

1/13/27

....

8,370

8,313

FW2426553.UP.FTS.B,

14.04%,

1/13/27

..

6,030

5,987

FW2426488.UP.FTS.B,

14.89%,

1/13/27

..

6,478

6,431

L2428411.UP.FTS.B,

15.14%,

1/13/27

....

4,463

4,414

L2426191.UP.FTS.B,

15.29%,

1/13/27

....

9,304

9,239

FW2398372.UP.FTS.B,

15.37%,

1/13/27

..

10,975

10,856

FW2425483.UP.FTS.B,

15.58%,

1/13/27

..

10,235

10,124

L2424270.UP.FTS.B,

15.87%,

1/13/27

....

4,655

4,604

FW2412323.UP.FTS.B,

15.91%,

1/13/27

..

9,310

9,245

FW2423910.UP.FTS.B,

15.96%,

1/13/27

..

7,445

7,364

L2406518.UP.FTS.B,

16%,

1/13/27

......

4,656

4,605

FW2426856.UP.FTS.B,

16.14%,

1/13/27

..

9,314

9,213

L2426798.UP.FTS.B,

16.24%,

1/13/27

....

14,905

14,802

L2428256.UP.FTS.B,

16.26%,

1/13/27

....

13,906

13,753

L2423259.UP.FTS.B,

16.37%,

1/13/27

....

18,636

18,434

L2426649.UP.FTS.B,

16.44%,

1/13/27

....

1,349

1,329

L2428444.UP.FTS.B,

16.71%,

1/13/27

....

5,594

5,534

L2428347.UP.FTS.B,

16.79%,

1/13/27

....

6,527

6,482

FW2428748.UP.FTS.B,

17.09%,

1/13/27

..

9,330

9,229

L2425118.UP.FTS.B,

17.11%,

1/13/27

....

6,531

6,443

FW2423151.UP.FTS.B,

17.2%,

1/13/27

...

4,106

4,051

L2424529.UP.FTS.B,

17.26%,

1/13/27

....

9,333

9,269

L2422943.UP.FTS.B,

17.4%,

1/13/27

....

5,624

5,551

L2428394.UP.FTS.B,

17.4%,

1/13/27

....

5,457

5,395

FW2425055.UP.FTS.B,

17.43%,

1/13/27

..

15,310

15,104

L2426279.UP.FTS.B,

17.73%,

1/13/27

....

3,830

3,789

L2424817.UP.FTS.B,

17.78%,

1/13/27

....

12,144

11,981

L2423964.UP.FTS.B,

18.15%,

1/13/27

....

6,543

6,455

L2427597.UP.FTS.B,

18.22%,

1/13/27

....

4,674

4,624

L2428498.UP.FTS.B,

18.5%,

1/13/27

....

4,676

4,614

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L2428454.UP.FTS.B,

18.63%,

1/13/27

....

$

7,016

$

6,922

L2427159.UP.FTS.B,

19.03%,

1/13/27

....

4,246

4,203

L2426634.UP.FTS.B,

19.2%,

1/13/27

....

6,929

6,837

L2422983.UP.FTS.B,

19.45%,

1/13/27

....

26,418

26,138

L2424838.UP.FTS.B,

19.97%,

1/13/27

....

9,379

9,280

L2425510.UP.FTS.B,

19.97%,

1/13/27

....

14,540

2,175

L2424684.UP.FTS.B,

20.1%,

1/13/27

....

5,598

5,551

L2423758.UP.FTS.B,

20.41%,

1/13/27

....

1,877

1,852

L2405396.UP.FTS.B,

20.43%,

1/13/27

....

7,037

6,944

L2423418.UP.FTS.B,

20.43%,

1/13/27

....

4,040

3,983

L2425650.UP.FTS.B,

20.51%,

1/13/27

....

24,401

24,144

L2426770.UP.FTS.B,

20.84%,

1/13/27

....

14,084

13,970

FW2426815.UP.FTS.B,

21.17%,

1/13/27

..

12,860

12,749

FW2425922.UP.FTS.B,

21.25%,

1/13/27

..

1,682

1,664

L2425214.UP.FTS.B,

21.28%,

1/13/27

....

5,168

5,100

L2427912.UP.FTS.B,

21.34%,

1/13/27

....

940

932

FW2424710.UP.FTS.B,

21.52%,

1/13/27

..

15,324

15,122

FW2427047.UP.FTS.B,

22.2%,

1/13/27

...

20,515

20,350

L2427766.UP.FTS.B,

22.36%,

1/13/27

....

5,133

5,064

FW2427291.UP.FTS.B,

22.37%,

1/13/27

..

3,977

3,935

L2428658.UP.FTS.B,

22.41%,

1/13/27

....

10,278

9,746

L2427860.UP.FTS.B,

22.44%,

1/13/27

....

1,570

235

L2395761.UP.FTS.B,

22.53%,

1/13/27

....

28,246

28,019

L2398543.UP.FTS.B,

22.71%,

1/13/27

....

3,785

3,747

L2427303.UP.FTS.B,

22.98%,

1/13/27

....

3,736

560

L2427827.UP.FTS.B,

23.01%,

1/13/27

....

11,307

11,159

L2423887.UP.FTS.B,

23.16%,

1/13/27

....

18,660

18,511

L2425900.UP.FTS.B,

23.2%,

1/13/27

....

8,294

8,228

L2422984.UP.FTS.B,

23.24%,

1/13/27

....

12,317

3,593

FW2424596.UP.FTS.B,

23.51%,

1/13/27

..

1,886

1,871

L2424344.UP.FTS.B,

23.87%,

1/13/27

....

943

936

FW2424610.UP.FTS.B,

24.07%,

1/13/27

..

8,505

8,436

L2426951.UP.FTS.B,

24.27%,

1/13/27

....

5,192

5,151

L2425018.UP.FTS.B,

24.54%,

1/13/27

....

5,667

5,593

L2424865.UP.FTS.B,

24.59%,

1/13/27

....

9,515

9,399

L2367693.UP.FTS.B,

24.73%,

1/13/27

....

42,511

42,176

L2425886.UP.FTS.B,

24.76%,

1/13/27

....

4,724

4,686

L2404751.UP.FTS.B,

24.81%,

1/13/27

....

17,030

16,891

FW2427848.UP.FTS.B,

24.93%,

1/13/27

..

3,114

467

L2428382.UP.FTS.B,

25.1%,

1/13/27

....

1,229

1,219

L2422250.UP.FTS.B,

25.13%,

1/13/27

....

2,930

2,907

L2423497.UP.FTS.B,

25.16%,

1/13/27

....

1,512

1,500

L2399706.UP.FTS.B,

25.18%,

1/13/27

....

13,612

13,505

L2419915.UP.FTS.B,

25.22%,

1/13/27

....

1,796

1,782

L2424284.UP.FTS.B,

25.23%,

1/13/27

....

4,393

4,140

L2399133.UP.FTS.B,

25.24%,

1/13/27

....

5,200

373

FW2428740.UP.FTS.B,

25.25%,

1/13/27

..

3,782

3,752

L2425660.UP.FTS.B,

25.25%,

1/13/27

....

1,796

1,778

L2424505.UP.FTS.B,

25.26%,

1/13/27

....

4,393

1,275

L2422871.UP.FTS.B,

25.28%,

1/13/27

....

2,181

2,055

L2427647.UP.FTS.B,

25.29%,

1/13/27

....

5,484

5,441

L2426521.UP.FTS.B,

25.33%,

1/13/27

....

3,309

3,283

L2427874.UP.FTS.B,

25.33%,

1/13/27

....

1,057

1,043

L2425390.UP.FTS.B,

25.36%,

1/13/27

....

2,865

2,718

L2426044.UP.FTS.B,

25.4%,

1/13/27

....

2,080

2,064

L2426848.UP.FTS.B,

25.4%,

1/13/27

....

8,659

8,577

L2424212.UP.FTS.B,

25.42%,

1/13/27

....

945

937

L2427070.UP.FTS.B,

25.42%,

1/13/27

....

3,215

3,190

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

127

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2425077.UP.FTS.B,

25.43%,

1/13/27

....

$

8,861

$

8,790

L2423795.UP.FTS.B,

25.46%,

1/13/27

....

6,714

6,662

L2424946.UP.FTS.B,

25.46%,

1/13/27

....

2,270

2,247

L2425747.UP.FTS.B,

25.48%,

1/13/27

....

13,240

13,069

L2424490.UP.FTS.B,

25.49%,

1/13/27

....

6,773

6,424

L2425662.UP.FTS.B,

25.5%,

1/13/27

....

1,433

1,359

L2427169.UP.FTS.B,

25.5%,

1/13/27

....

4,375

4,335

FW2425381.UP.FTS.B,

25.75%,

1/13/27

..

6,339

6,289

L2424771.UP.FTS.B,

25.96%,

1/13/27

....

2,072

2,055

FW2424834.UP.FTS.B,

26.08%,

1/13/27

..

5,112

5,072

FW2425245.UP.FTS.B,

26.25%,

1/13/27

..

1,515

1,503

FW2423361.UP.FTS.B,

26.6%,

1/13/27

...

3,315

3,290

FW2426259.UP.FTS.B,

26.65%,

1/13/27

..

4,738

4,701

FW2428725.UP.FTS.B,

26.68%,

1/13/27

..

2,665

2,644

FW2428287.UP.FTS.B,

26.84%,

1/13/27

..

5,686

5,641

FW2425746.UP.FTS.B,

27.06%,

1/13/27

..

8,531

8,465

FW2425948.UP.FTS.B,

27.28%,

1/13/27

..

6,637

6,586

FW2425689.UP.FTS.B,

27.43%,

1/13/27

..

9,515

9,441

FW2424326.UP.FTS.B,

27.8%,

1/13/27

...

9,458

9,383

FW2427083.UP.FTS.B,

27.94%,

1/13/27

..

5,100

361

FW2422977.UP.FTS.B,

28.17%,

1/13/27

..

18,849

18,694

FW2423642.UP.FTS.B,

28.44%,

1/13/27

..

3,799

3,770

FW2424974.UP.FTS.B,

28.61%,

1/13/27

..

16,318

16,176

FW2427295.UP.FTS.B,

28.62%,

1/13/27

..

1,520

1,508

FW2426081.UP.FTS.B,

28.91%,

1/13/27

..

5,569

50

FW2424097.UP.FTS.B,

29.01%,

1/13/27

..

3,802

3,773

FW2423517.UP.FTS.B,

29.09%,

1/13/27

..

5,621

5,574

FW2422891.UP.FTS.B,

29.39%,

1/13/27

..

1,830

1,812

FW2425791.UP.FTS.B,

29.41%,

1/13/27

..

2,955

2,815

FW2426907.UP.FTS.B,

29.43%,

1/13/27

..

40,006

39,663

FW2425524.UP.FTS.B,

29.54%,

1/13/27

..

21,400

21,237

FW2427306.UP.FTS.B,

29.68%,

1/13/27

..

1,332

1,322

FW2427523.UP.FTS.B,

29.85%,

1/13/27

..

2,917

2,772

FW2423451.UP.FTS.B,

30.19%,

1/13/27

..

952

945

FW2426985.UP.FTS.B,

30.26%,

1/13/27

..

31,735

31,476

FW2427875.UP.FTS.B,

30.3%,

1/13/27

...

952

945

FW2423548.UP.FTS.B,

30.41%,

1/13/27

..

2,476

2,457

FW2427907.UP.FTS.B,

30.41%,

1/13/27

..

5,765

5,471

FW2425371.UP.FTS.B,

30.51%,

1/13/27

..

1,905

1,890

FW2423407.UP.FTS.B,

30.57%,

1/13/27

..

2,191

2,174

FW2424256.UP.FTS.B,

30.67%,

1/13/27

..

1,249

1,186

FW2424742.UP.FTS.B,

30.86%,

1/13/27

..

1,478

1,461

FW2425795.UP.FTS.B,

30.94%,

1/13/27

..

3,811

3,783

FW2425464.UP.FTS.B,

30.97%,

1/13/27

..

2,682

187

FW2423992.UP.FTS.B,

30.98%,

1/13/27

..

3,197

939

FW2425961.UP.FTS.B,

31.09%,

1/13/27

..

1,048

1,040

FW2426323.UP.FTS.B,

31.14%,

1/13/27

..

7,148

7,095

FW2425340.UP.FTS.B,

31.15%,

1/13/27

..

1,550

455

FW2427636.UP.FTS.B,

31.15%,

1/13/27

..

5,609

843

FW2427561.UP.FTS.B,

31.19%,

1/13/27

..

1,575

234

FW2426510.UP.FTS.B,

31.33%,

1/13/27

..

3,619

3,591

FW2424349.UP.FTS.B,

31.49%,

1/13/27

..

2,956

2,934

FW2425652.UP.FTS.B,

31.61%,

1/13/27

..

9,935

(26)

FW2423715.UP.FTS.B,

32.57%,

1/13/27

..

955

948

FW2432124.UP.FTS.B,

5.02%,

1/14/27

...

45,535

45,398

L2429437.UP.FTS.B,

5.17%,

1/14/27

....

10,932

10,899

L2435082.UP.FTS.B,

5.24%,

1/14/27

....

24,692

24,619

L2429367.UP.FTS.B,

5.33%,

1/14/27

....

13,670

13,629

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L2435136.UP.FTS.B,

5.4%,

1/14/27

.....

$

9,570

$

9,542

L2435334.UP.FTS.B,

5.79%,

1/14/27

....

2,828

2,820

L2431631.UP.FTS.B,

5.94%,

1/14/27

....

3,468

3,458

L2428794.UP.FTS.B,

5.98%,

1/14/27

....

13,689

13,650

L2434119.UP.FTS.B,

5.98%,

1/14/27

.....

1,366

1,362

L2432641.UP.FTS.B,

5.99%,

1/14/27

....

9,127

9,100

FW2431037.UP.FTS.B,

6.01%,

1/14/27

...

3,651

3,640

L2432955.UP.FTS.B,

6.09%,

1/14/27

....

1,830

1,825

L2431283.UP.FTS.B,

6.13%,

1/14/27

....

9,042

9,016

FW2434481.UP.FTS.B,

6.18%,

1/14/27

...

8,674

8,649

L2434868.UP.FTS.B,

6.25%,

1/14/27

....

10,045

10,016

L2433278.UP.FTS.B,

6.42%,

1/14/27

....

12,789

12,753

L2432971.UP.FTS.B,

6.45%,

1/14/27

....

4,271

4,259

L2434814.UP.FTS.B,

6.49%,

1/14/27

....

2,376

2,369

L2432301.UP.FTS.B,

6.51%,

1/14/27

....

4,569

4,555

L2431798.UP.FTS.B,

6.68%,

1/14/27

....

13,238

13,201

FW2429354.UP.FTS.B,

6.79%,

1/14/27

...

45,622

45,493

FW2430872.UP.FTS.B,

6.87%,

1/14/27

...

3,200

3,191

L2432901.UP.FTS.B,

6.93%,

1/14/27

....

17,365

17,316

FW2430681.UP.FTS.B,

7.21%,

1/14/27

...

29,263

29,181

L2431865.UP.FTS.B,

7.24%,

1/14/27

....

15,558

15,514

L2429743.UP.FTS.B,

7.27%,

1/14/27

....

3,025

716

L2429292.UP.FTS.B,

7.41%,

1/14/27

....

10,986

10,931

L2432353.UP.FTS.B,

7.41%,

1/14/27

....

18,310

18,218

L2432199.UP.FTS.B,

7.42%,

1/14/27

....

4,002

3,980

L2430454.UP.FTS.B,

7.62%,

1/14/27

....

12,690

12,625

L2433097.UP.FTS.B,

7.62%,

1/14/27

....

35,698

35,520

L2434635.UP.FTS.B,

7.74%,

1/14/27

....

19,422

19,325

FW2429026.UP.FTS.B,

7.87%,

1/14/27

...

2,806

2,643

L2433991.UP.FTS.B,

7.94%,

1/14/27

....

6,411

6,379

L2435013.UP.FTS.B,

8.08%,

1/14/27

....

9,168

9,123

L2429715.UP.FTS.B,

8.3%,

1/14/27

.....

3,669

3,651

L2434529.UP.FTS.B,

8.37%,

1/14/27

....

6,421

6,390

L2430462.UP.FTS.B,

8.4%,

1/14/27

.....

22,936

22,823

L2435208.UP.FTS.B,

8.4%,

1/14/27

.....

41,185

40,981

L2432009.UP.FTS.B,

8.47%,

1/14/27

....

18,294

18,203

FW2429579.UP.FTS.B,

8.83%,

1/14/27

...

5,870

5,841

L2433575.UP.FTS.B,

8.87%,

1/14/27

....

7,896

7,858

L2435422.UP.FTS.B,

8.9%,

1/14/27

.....

9,184

9,139

L2429477.UP.FTS.B,

8.93%,

1/14/27

....

12,766

12,704

L2429964.UP.FTS.B,

9.01%,

1/14/27

....

4,593

4,571

L2429979.UP.FTS.B,

9.08%,

1/14/27

....

2,756

2,743

L2432951.UP.FTS.B,

9.1%,

1/14/27

.....

14,362

14,296

FW2430164.UP.FTS.B,

9.11%,

1/14/27

...

5,042

5,017

L2429404.UP.FTS.B,

9.12%,

1/14/27

....

45,940

45,718

L2430869.UP.FTS.B,

9.13%,

1/14/27

....

10,130

10,084

L2432838.UP.FTS.B,

9.34%,

1/14/27

....

16,546

16,466

L2433061.UP.FTS.B,

9.38%,

1/14/27

....

6,884

6,851

L2430465.UP.FTS.B,

9.43%,

1/14/27

....

13,791

13,725

L2432796.UP.FTS.B,

9.5%,

1/14/27

.....

2,297

2,286

L2432514.UP.FTS.B,

9.62%,

1/14/27

....

32,191

32,037

L2434796.UP.FTS.B,

9.68%,

1/14/27

....

22,996

22,886

L2434345.UP.FTS.B,

9.69%,

1/14/27

....

8,688

8,641

L2434787.UP.FTS.B,

9.78%,

1/14/27

....

2,760

2,747

FW2429553.UP.FTS.B,

9.84%,

1/14/27

...

9,229

9,187

L2432829.UP.FTS.B,

9.84%,

1/14/27

....

8,742

8,700

FW2431901.UP.FTS.B,

9.92%,

1/14/27

...

10,978

10,897

L2434222.UP.FTS.B,

9.93%,

1/14/27

....

9,203

9,159

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

128

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2434832.UP.FTS.B,

9.93%,

1/14/27

....

$

5,982

$

5,954

L2432768.UP.FTS.B,

9.94%,

1/14/27

....

3,193

428

L2431885.UP.FTS.B,

10.04%,

1/14/27

....

25,671

25,546

L2435424.UP.FTS.B,

10.13%,

1/14/27

....

4,492

4,458

L2435560.UP.FTS.B,

10.15%,

1/14/27

....

24,725

24,607

FW2433055.UP.FTS.B,

10.82%,

1/14/27

..

3,227

3,204

L2403095.UP.FTS.B,

10.86%,

1/14/27

....

7,822

7,765

L2433406.UP.FTS.B,

10.87%,

1/14/27

....

14,938

14,868

L2431423.UP.FTS.B,

11.01%,

1/14/27

....

2,767

2,747

L2430888.UP.FTS.B,

11.1%,

1/14/27

.....

7,524

7,088

FW2431039.UP.FTS.B,

11.16%,

1/14/27

..

11,544

1,592

L2430601.UP.FTS.B,

11.3%,

1/14/27

.....

16,150

16,034

FW2432645.UP.FTS.B,

11.94%,

1/14/27

..

6,006

5,963

FW2433730.UP.FTS.B,

12.25%,

1/14/27

..

47,427

12,061

L2431725.UP.FTS.B,

12.26%,

1/14/27

....

36,985

36,722

L2435214.UP.FTS.B,

12.31%,

1/14/27

....

5,548

5,509

L2431712.UP.FTS.B,

12.53%,

1/14/27

....

1,358

1,348

FW2433199.UP.FTS.B,

12.56%,

1/14/27

..

2,776

2,756

L2431067.UP.FTS.B,

12.57%,

1/14/27

....

5,545

5,505

L2429992.UP.FTS.B,

12.6%,

1/14/27

....

4,797

4,761

L2434462.UP.FTS.B,

12.63%,

1/14/27

....

1,851

1,837

FW2432090.UP.FTS.B,

12.83%,

1/14/27

..

6,017

5,974

L2435380.UP.FTS.B,

12.98%,

1/14/27

....

5,066

5,029

FW2434494.UP.FTS.B,

12.99%,

1/14/27

..

4,630

4,597

L2432680.UP.FTS.B,

13.04%,

1/14/27

....

4,630

4,597

L2430844.UP.FTS.B,

13.1%,

1/14/27

....

15,028

14,926

FW2430692.UP.FTS.B,

13.13%,

1/14/27

..

8,336

8,277

L2434966.UP.FTS.B,

13.37%,

1/14/27

....

9,252

9,186

FW2432260.UP.FTS.B,

13.46%,

1/14/27

..

4,659

4,628

L2434354.UP.FTS.B,

13.48%,

1/14/27

....

4,634

4,602

L2433923.UP.FTS.B,

13.81%,

1/14/27

....

9,234

9,168

L2430593.UP.FTS.B,

13.89%,

1/14/27

....

9,275

9,210

L2435102.UP.FTS.B,

15.04%,

1/14/27

....

13,943

13,847

FW2429622.UP.FTS.B,

15.13%,

1/14/27

..

4,668

4,638

L2434928.UP.FTS.B,

15.16%,

1/14/27

....

4,649

4,617

L2431824.UP.FTS.B,

15.27%,

1/14/27

....

5,526

5,465

L2432300.UP.FTS.B,

15.27%,

1/14/27

....

916

910

L2431842.UP.FTS.B,

15.8%,

1/14/27

....

36,946

36,691

L2429881.UP.FTS.B,

15.91%,

1/14/27

....

20,482

20,265

FW2435291.UP.FTS.B,

16.08%,

1/14/27

..

41,656

41,363

L2430004.UP.FTS.B,

16.23%,

1/14/27

....

8,491

7,998

FW2428845.UP.FTS.B,

16.32%,

1/14/27

..

9,376

9,282

L2429267.UP.FTS.B,

16.52%,

1/14/27

....

9,321

9,222

FW2435527.UP.FTS.B,

16.65%,

1/14/27

..

16,967

16,788

FW2430915.UP.FTS.B,

16.81%,

1/14/27

..

10,071

9,965

L2429626.UP.FTS.B,

16.81%,

1/14/27

....

3,730

3,691

L2434502.UP.FTS.B,

17.17%,

1/14/27

....

15,329

15,133

L2435410.UP.FTS.B,

17.3%,

1/14/27

....

11,161

11,042

L2432699.UP.FTS.B,

17.44%,

1/14/27

....

5,135

5,081

L2434046.UP.FTS.B,

17.57%,

1/14/27

....

8,871

8,812

FW2430908.UP.FTS.B,

17.59%,

1/14/27

..

32,684

32,465

L2432494.UP.FTS.B,

18.24%,

1/14/27

....

3,739

3,700

L2431586.UP.FTS.B,

18.56%,

1/14/27

....

9,421

9,304

L2426379.UP.FTS.B,

19.1%,

1/14/27

....

5,149

5,096

L2429755.UP.FTS.B,

19.15%,

1/14/27

....

14,045

13,935

L2435425.UP.FTS.B,

19.56%,

1/14/27

....

5,623

5,550

FW2428166.UP.FTS.B,

19.59%,

1/14/27

..

11,244

11,128

FW2431351.UP.FTS.B,

20.08%,

1/14/27

..

1,744

1,714

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW2430438.UP.FTS.B,

20.15%,

1/14/27

..

$

3,658

$

3,610

L2430606.UP.FTS.B,

20.16%,

1/14/27

....

12,287

12,127

L2434674.UP.FTS.B,

20.19%,

1/14/27

....

37,519

37,276

L2430735.UP.FTS.B,

20.49%,

1/14/27

....

6,710

6,367

L2435110.UP.FTS.B,

20.58%,

1/14/27

....

1,587

1,566

L2433502.UP.FTS.B,

20.59%,

1/14/27

....

2,478

2,444

L2434166.UP.FTS.B,

20.69%,

1/14/27

....

37,549

37,063

L2429408.UP.FTS.B,

20.87%,

1/14/27

....

9,390

9,294

L2428990.UP.FTS.B,

21.05%,

1/14/27

....

18,785

18,640

L2431627.UP.FTS.B,

21.05%,

1/14/27

....

9,393

9,297

L2434076.UP.FTS.B,

21.06%,

1/14/27

....

9,393

9,320

FW2431803.UP.FTS.B,

21.19%,

1/14/27

..

3,664

3,617

L2435241.UP.FTS.B,

21.3%,

1/14/27

....

7,235

7,189

L2433980.UP.FTS.B,

21.4%,

1/14/27

....

3,759

3,711

L2434958.UP.FTS.B,

21.53%,

1/14/27

....

822

810

L2429653.UP.FTS.B,

21.57%,

1/14/27

....

6,111

6,063

L2434141.UP.FTS.B,

21.61%,

1/14/27

....

3,667

3,619

L2433810.UP.FTS.B,

21.65%,

1/14/27

....

16,935

16,828

FW2435200.UP.FTS.B,

21.71%,

1/14/27

..

6,191

6,143

L2434159.UP.FTS.B,

21.72%,

1/14/27

....

1,410

1,400

L2432761.UP.FTS.B,

21.77%,

1/14/27

....

2,351

2,327

L2434330.UP.FTS.B,

21.77%,

1/14/27

....

8,463

8,377

L2432647.UP.FTS.B,

21.91%,

1/14/27

....

3,386

3,343

L2433080.UP.FTS.B,

22.02%,

1/14/27

....

14,864

14,750

L2433930.UP.FTS.B,

22.17%,

1/14/27

....

10,162

10,084

L2428923.UP.FTS.B,

22.2%,

1/14/27

....

10,055

9,977

L2433523.UP.FTS.B,

22.41%,

1/14/27

....

13,197

13,092

L2433884.UP.FTS.B,

22.52%,

1/14/27

....

4,697

4,637

L2432854.UP.FTS.B,

22.72%,

1/14/27

....

11,425

10,766

L2432010.UP.FTS.B,

22.75%,

1/14/27

....

28,268

28,053

FW2433535.UP.FTS.B,

22.79%,

1/14/27

..

19,888

674

FW2434063.UP.FTS.B,

22.84%,

1/14/27

..

4,710

4,649

FW2433245.UP.FTS.B,

22.87%,

1/14/27

..

6,217

6,170

L2429021.UP.FTS.B,

22.9%,

1/14/27

....

5,653

5,610

FW2434152.UP.FTS.B,

22.94%,

1/14/27

..

15,168

15,052

FW2429090.UP.FTS.B,

23%,

1/14/27

....

2,726

2,701

L2433122.UP.FTS.B,

23.25%,

1/14/27

....

9,426

9,354

L2429502.UP.FTS.B,

23.45%,

1/14/27

....

2,074

2,058

L2429998.UP.FTS.B,

23.47%,

1/14/27

....

23,572

23,271

FW2429115.UP.FTS.B,

23.87%,

1/14/27

..

4,181

4,150

L2429608.UP.FTS.B,

24.17%,

1/14/27

....

7,174

7,119

FW2418141.UP.FTS.B,

24.21%,

1/14/27

..

8,167

7,761

L2430627.UP.FTS.B,

24.59%,

1/14/27

....

9,281

9,201

L2435514.UP.FTS.B,

24.62%,

1/14/27

....

9,445

9,374

FW2434137.UP.FTS.B,

24.72%,

1/14/27

..

27,439

27,225

L2429435.UP.FTS.B,

24.72%,

1/14/27

....

11,336

11,192

L2429892.UP.FTS.B,

24.74%,

1/14/27

....

1,795

1,781

L2428102.UP.FTS.B,

25.04%,

1/14/27

....

4,321

4,287

L2430498.UP.FTS.B,

25.11%,

1/14/27

....

1,040

1,032

L2432682.UP.FTS.B,

25.13%,

1/14/27

....

4,313

4,279

L2400561.UP.FTS.B,

25.15%,

1/14/27

....

1,523

1,511

L2433083.UP.FTS.B,

25.18%,

1/14/27

....

5,590

834

L2432911.UP.FTS.B,

25.19%,

1/14/27

....

5,051

5,010

L2434103.UP.FTS.B,

25.19%,

1/14/27

....

1,134

1,126

L2429348.UP.FTS.B,

25.22%,

1/14/27

....

4,727

4,691

L2428592.UP.FTS.B,

25.23%,

1/14/27

....

2,364

2,334

L2431333.UP.FTS.B,

25.27%,

1/14/27

....

1,118

1,105

FW2432940.UP.FTS.B,

25.3%,

1/14/27

...

1,229

1,220

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

129

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2434126.UP.FTS.B,

25.3%,

1/14/27

....

$

2,458

$

2,440

L2429006.UP.FTS.B,

25.32%,

1/14/27

....

3,404

3,378

L2432337.UP.FTS.B,

25.36%,

1/14/27

....

12,256

12,128

L2429838.UP.FTS.B,

25.4%,

1/14/27

....

7,385

7,326

L2416948.UP.FTS.B,

25.44%,

1/14/27

....

3,700

265

L2433874.UP.FTS.B,

25.44%,

1/14/27

....

7,451

7,071

L2430969.UP.FTS.B,

25.5%,

1/14/27

....

2,953

2,923

L2428819.UP.FTS.B,

25.51%,

1/14/27

....

8,796

8,730

L2430801.UP.FTS.B,

25.58%,

1/14/27

....

1,502

1,487

L2429739.UP.FTS.B,

25.61%,

1/14/27

....

2,550

2,527

FW2432066.UP.FTS.B,

25.64%,

1/14/27

..

14,001

13,883

FW2431957.UP.FTS.B,

25.68%,

1/14/27

..

10,741

1,609

L2429989.UP.FTS.B,

25.78%,

1/14/27

....

2,542

2,518

L2430189.UP.FTS.B,

25.96%,

1/14/27

....

6,220

6,176

L2434122.UP.FTS.B,

25.98%,

1/14/27

....

3,774

3,726

FW2427919.UP.FTS.B,

26.2%,

1/14/27

...

9,467

9,397

FW2429601.UP.FTS.B,

26.35%,

1/14/27

..

8,238

8,177

FW2433321.UP.FTS.B,

26.46%,

1/14/27

..

1,894

1,880

FW2430722.UP.FTS.B,

26.47%,

1/14/27

..

11,176

11,092

FW2434298.UP.FTS.B,

26.5%,

1/14/27

...

3,126

3,103

FW2433285.UP.FTS.B,

26.57%,

1/14/27

..

7,578

7,522

FW2433372.UP.FTS.B,

26.59%,

1/14/27

..

6,000

5,951

FW2428882.UP.FTS.B,

27.27%,

1/14/27

..

5,689

5,647

FW2434057.UP.FTS.B,

27.5%,

1/14/27

...

2,863

2,842

FW2430797.UP.FTS.B,

27.91%,

1/14/27

..

22,112

21,949

FW2432673.UP.FTS.B,

28.08%,

1/14/27

..

2,126

624

FW2435389.UP.FTS.B,

28.43%,

1/14/27

..

950

943

FW2429810.UP.FTS.B,

28.7%,

1/14/27

...

8,075

8,016

L2429049.UP.FTS.B,

28.73%,

1/14/27

....

8,160

1,222

FW2435458.UP.FTS.B,

28.74%,

1/14/27

..

4,706

4,669

FW2429440.UP.FTS.B,

28.89%,

1/14/27

..

7,526

7,435

FW2429972.UP.FTS.B,

28.92%,

1/14/27

..

1,901

1,887

FW2428964.UP.FTS.B,

29.05%,

1/14/27

..

8,269

8,209

FW2432969.UP.FTS.B,

29.06%,

1/14/27

..

9,505

9,436

FW2431470.UP.FTS.B,

29.12%,

1/14/27

..

2,947

2,925

FW2429724.UP.FTS.B,

29.45%,

1/14/27

..

976

146

FW2429468.UP.FTS.B,

29.55%,

1/14/27

..

1,800

128

FW2431137.UP.FTS.B,

29.79%,

1/14/27

..

4,757

4,723

FW2431310.UP.FTS.B,

30.03%,

1/14/27

..

14,645

2,183

FW2434680.UP.FTS.B,

30.17%,

1/14/27

..

1,291

90

FW2431106.UP.FTS.B,

30.38%,

1/14/27

..

5,142

5,105

FW2435357.UP.FTS.B,

30.38%,

1/14/27

..

15,711

15,598

FW2435436.UP.FTS.B,

30.46%,

1/14/27

..

3,809

3,782

FW2435220.UP.FTS.B,

30.47%,

1/14/27

..

2,917

2,893

FW2432960.UP.FTS.B,

30.52%,

1/14/27

..

1,619

1,607

FW2429314.UP.FTS.B,

30.55%,

1/14/27

..

1,508

1,497

FW2431660.UP.FTS.B,

30.55%,

1/14/27

..

11,423

11,340

FW2429011.UP.FTS.B,

30.58%,

1/14/27

..

2,100

48

FW2434437.UP.FTS.B,

30.78%,

1/14/27

..

1,905

1,892

FW2434043.UP.FTS.B,

30.96%,

1/14/27

..

28,587

28,382

FW2432136.UP.FTS.B,

30.97%,

1/14/27

..

1,128

1,119

FW2429509.UP.FTS.B,

30.98%,

1/14/27

..

2,943

2,838

FW2434353.UP.FTS.B,

30.98%,

1/14/27

..

1,048

1,041

FW2425278.UP.FTS.B,

31%,

1/14/27

....

1,360

1,339

FW2431224.UP.FTS.B,

31.01%,

1/14/27

..

1,919

1,822

FW2429458.UP.FTS.B,

31.02%,

1/14/27

..

1,530

1,519

FW2429170.UP.FTS.B,

31.05%,

1/14/27

..

1,661

247

FW2434725.UP.FTS.B,

31.06%,

1/14/27

..

3,053

3,031

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW2432267.UP.FTS.B,

31.09%,

1/14/27

..

$

51

$

50

FW2433517.UP.FTS.B,

31.16%,

1/14/27

..

4,768

703

FW2431217.UP.FTS.B,

31.18%,

1/14/27

..

5,624

5,583

FW2433251.UP.FTS.B,

31.21%,

1/14/27

..

1,784

124

FW2434470.UP.FTS.B,

31.22%,

1/14/27

..

2,035

601

FW2431321.UP.FTS.B,

31.23%,

1/14/27

..

2,508

2,492

FW2432104.UP.FTS.B,

31.23%,

1/14/27

..

1,523

1,512

FW2430090.UP.FTS.B,

31.24%,

1/14/27

..

1,113

1,103

FW2435248.UP.FTS.B,

31.26%,

1/14/27

..

5,086

5,051

FW2434228.UP.FTS.B,

31.29%,

1/14/27

..

3,241

3,218

FW2430783.UP.FTS.B,

31.45%,

1/14/27

..

9,692

2,865

FW2434442.UP.FTS.B,

31.66%,

1/14/27

..

6,951

(18)

FW2434302.UP.FTS.B,

31.74%,

1/14/27

..

3,338

3,315

FW2435280.UP.FTS.B,

31.75%,

1/14/27

..

13,258

13,164

FW2432670.UP.FTS.B,

31.91%,

1/14/27

..

4,770

4,736

FW2430671.UP.FTS.B,

32%,

1/14/27

....

2,004

1,990

FW2432424.UP.FTS.B,

32.08%,

1/14/27

..

2,767

2,748

FW2430067.UP.FTS.B,

32.35%,

1/14/27

..

4,677

4,644

FW2433366.UP.FTS.B,

32.7%,

1/14/27

...

1,830

1,813

FW2435168.UP.FTS.B,

33.41%,

1/14/27

..

1,652

1,637

FW2433720.UP.FTS.B,

33.91%,

1/14/27

..

3,827

3,800

FW2429192.UP.FTS.B,

34.62%,

1/14/27

..

6,317

6,273

L2435572.UP.FTS.B,

5.11%,

1/18/27

.....

7,287

7,264

L2437289.UP.FTS.B,

5.21%,

1/18/27

....

18,221

18,164

L2438850.UP.FTS.B,

5.32%,

1/18/27

....

14,166

14,102

FW2437117.UP.FTS.B,

5.57%,

1/18/27

...

10,940

10,905

L2435960.UP.FTS.B,

5.66%,

1/18/27

....

3,648

3,636

FW2438484.UP.FTS.B,

5.73%,

1/18/27

...

9,121

9,093

L2437744.UP.FTS.B,

5.82%,

1/18/27

....

3,189

3,178

L2436076.UP.FTS.B,

6.4%,

1/18/27

.....

9,135

9,106

L2438702.UP.FTS.B,

6.59%,

1/18/27

....

807

779

L2436314.UP.FTS.B,

6.73%,

1/18/27

....

7,736

7,711

L2437712.UP.FTS.B,

7.07%,

1/18/27

....

5,245

5,227

L2436167.UP.FTS.B,

7.17%,

1/18/27

....

23,256

21,908

L2436166.UP.FTS.B,

7.3%,

1/18/27

.....

9,153

9,124

L2437375.UP.FTS.B,

7.41%,

1/18/27

....

13,732

13,689

FW2435037.UP.FTS.B,

7.47%,

1/18/27

...

12,715

12,649

FW2435774.UP.FTS.B,

7.71%,

1/18/27

...

2,799

2,636

L2437526.UP.FTS.B,

8.11%,

1/18/27

.....

4,951

4,925

FW2436323.UP.FTS.B,

8.17%,

1/18/27

...

3,890

293

L2435968.UP.FTS.B,

8.28%,

1/18/27

....

45,859

45,622

L2437670.UP.FTS.B,

8.31%,

1/18/27

....

4,575

4,551

L2435758.UP.FTS.B,

8.38%,

1/18/27

....

5,963

5,932

FW2437100.UP.FTS.B,

8.44%,

1/18/27

...

5,505

5,476

FW2435979.UP.FTS.B,

8.48%,

1/18/27

...

16,372

16,286

L2438360.UP.FTS.B,

8.62%,

1/18/27

....

15,750

14,829

FW2436679.UP.FTS.B,

8.8%,

1/18/27

....

4,591

4,567

FW2436617.UP.FTS.B,

8.87%,

1/18/27

...

4,591

4,568

L2436019.UP.FTS.B,

8.91%,

1/18/27

....

5,051

5,025

FW2436236.UP.FTS.B,

9.07%,

1/18/27

...

2,113

2,102

L2438471.UP.FTS.B,

9.13%,

1/18/27

....

9,325

8,778

L2436597.UP.FTS.B,

9.15%,

1/18/27

....

4,594

4,571

L2439024.UP.FTS.B,

9.19%,

1/18/27

....

45,816

45,578

FW2437428.UP.FTS.B,

9.23%,

1/18/27

...

3,862

3,841

FW2438526.UP.FTS.B,

9.32%,

1/18/27

...

5,515

5,487

L2439293.UP.FTS.B,

9.38%,

1/18/27

....

4,596

4,573

L2436825.UP.FTS.B,

9.41%,

1/18/27

....

40,451

40,243

L2435641.UP.FTS.B,

9.42%,

1/18/27

....

13,752

13,680

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

130

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

FW2437343.UP.FTS.B,

9.49%,

1/18/27

...

$

5,517

$

5,489

L2437642.UP.FTS.B,

9.64%,

1/18/27

....

1,260

1,253

L2436109.UP.FTS.B,

9.68%,

1/18/27

....

45,856

45,617

L2438805.UP.FTS.B,

9.71%,

1/18/27

....

10,579

10,525

L2438298.UP.FTS.B,

9.72%,

1/18/27

....

13,799

13,728

L2438087.UP.FTS.B,

9.91%,

1/18/27

....

43,254

43,032

L2405316.UP.FTS.B,

10.34%,

1/18/27

....

1,869

1,760

L2435766.UP.FTS.B,

10.44%,

1/18/27

....

10,595

10,540

L2435811.UP.FTS.B,

10.45%,

1/18/27

....

36,853

36,664

FW2436675.UP.FTS.B,

10.58%,

1/18/27

..

9,216

9,147

L2435930.UP.FTS.B,

10.61%,

1/18/27

....

820

815

FW2435900.UP.FTS.B,

11.42%,

1/18/27

..

4,985

4,948

L2437164.UP.FTS.B,

11.6%,

1/18/27

.....

5,541

5,499

L2437916.UP.FTS.B,

11.63%,

1/18/27

....

4,618

4,583

FW2438742.UP.FTS.B,

11.7%,

1/18/27

...

9,367

8,818

L2437298.UP.FTS.B,

12.04%,

1/18/27

....

5,546

5,505

L2435975.UP.FTS.B,

12.06%,

1/18/27

....

5,546

5,505

FW2436806.UP.FTS.B,

12.34%,

1/18/27

..

9,248

9,179

L2431628.UP.FTS.B,

12.97%,

1/18/27

....

13,888

13,785

L2437498.UP.FTS.B,

13%,

1/18/27

......

46,299

45,955

FW2436712.UP.FTS.B,

13.19%,

1/18/27

..

25,936

25,744

L2436053.UP.FTS.B,

13.19%,

1/18/27

....

41,683

41,374

L2439073.UP.FTS.B,

13.38%,

1/18/27

....

12,046

11,957

L2435800.UP.FTS.B,

13.45%,

1/18/27

....

2,780

2,760

L2438687.UP.FTS.B,

13.46%,

1/18/27

....

27,663

27,454

FW2438200.UP.FTS.B,

13.65%,

1/18/27

..

884

877

L2436944.UP.FTS.B,

13.68%,

1/18/27

....

27,816

27,609

FW2434310.UP.FTS.B,

13.84%,

1/18/27

..

15,616

3,992

L2438233.UP.FTS.B,

13.97%,

1/18/27

....

46,385

46,041

FW2435953.UP.FTS.B,

14.04%,

1/18/27

..

3,247

3,223

FW2386556.UP.FTS.B,

14.67%,

1/18/27

..

24,987

24,802

L2435828.UP.FTS.B,

15.11%,

1/18/27

....

9,297

9,228

L2436170.UP.FTS.B,

15.51%,

1/18/27

....

4,652

4,601

FW2437715.UP.FTS.B,

16.25%,

1/18/27

..

23,159

22,904

L2436120.UP.FTS.B,

16.49%,

1/18/27

....

2,796

2,766

FW2437419.UP.FTS.B,

16.93%,

1/18/27

..

13,991

13,887

L2437345.UP.FTS.B,

17.3%,

1/18/27

....

10,271

10,160

L2436245.UP.FTS.B,

17.45%,

1/18/27

....

6,616

6,231

L2436235.UP.FTS.B,

19.1%,

1/18/27

....

4,222

4,168

FW2433283.UP.FTS.B,

19.48%,

1/18/27

..

4,659

4,607

L2437183.UP.FTS.B,

19.56%,

1/18/27

....

5,153

5,085

L2431623.UP.FTS.B,

19.58%,

1/18/27

....

36,169

35,778

L2437520.UP.FTS.B,

19.6%,

1/18/27

....

5,175

5,109

L2437522.UP.FTS.B,

20.01%,

1/18/27

....

1,407

1,388

L2436835.UP.FTS.B,

20.74%,

1/18/27

....

14,082

13,971

FW2436856.UP.FTS.B,

21.01%,

1/18/27

..

9,880

9,417

L2436938.UP.FTS.B,

21.6%,

1/18/27

....

9,910

344

L2436631.UP.FTS.B,

21.63%,

1/18/27

....

6,581

6,510

L2437784.UP.FTS.B,

21.86%,

1/18/27

....

9,104

8,978

L2428227.UP.FTS.B,

22.1%,

1/18/27

....

3,582

63

L2413076.UP.FTS.B,

22.22%,

1/18/27

....

9,290

9,209

L2438983.UP.FTS.B,

22.44%,

1/18/27

....

37,563

37,261

L2438751.UP.FTS.B,

22.96%,

1/18/27

....

5,639

5,593

L2438096.UP.FTS.B,

23.15%,

1/18/27

....

2,073

2,057

L2436458.UP.FTS.B,

23.16%,

1/18/27

....

1,875

1,860

L2435681.UP.FTS.B,

23.28%,

1/18/27

....

1,881

1,866

FW2436112.UP.FTS.B,

23.4%,

1/18/27

...

3,300

3,274

FW2436384.UP.FTS.B,

23.41%,

1/18/27

..

7,071

7,015

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L2437978.UP.FTS.B,

23.73%,

1/18/27

....

$

3,207

$

3,165

L2436533.UP.FTS.B,

23.74%,

1/18/27

....

11,319

11,230

L2435597.UP.FTS.B,

23.94%,

1/18/27

....

4,561

4,518

L2439317.UP.FTS.B,

24.04%,

1/18/27

....

944

931

L2437454.UP.FTS.B,

24.13%,

1/18/27

....

1,888

1,873

L2435765.UP.FTS.B,

24.15%,

1/18/27

....

1,510

1,498

L2437360.UP.FTS.B,

24.68%,

1/18/27

....

1,601

1,581

L2438451.UP.FTS.B,

24.73%,

1/18/27

....

6,842

6,778

L2435608.UP.FTS.B,

24.85%,

1/18/27

....

1,432

1,358

L2438797.UP.FTS.B,

24.88%,

1/18/27

....

1,039

1,031

L2436225.UP.FTS.B,

25.02%,

1/18/27

....

1,418

1,406

L2437383.UP.FTS.B,

25.04%,

1/18/27

....

11,341

11,251

FW2437437.UP.FTS.B,

25.06%,

1/18/27

..

17,958

17,827

L2435949.UP.FTS.B,

25.18%,

1/18/27

....

2,697

2,670

L2438923.UP.FTS.B,

25.2%,

1/18/27

....

1,891

1,876

L2436937.UP.FTS.B,

25.26%,

1/18/27

....

1,752

266

FW2438683.UP.FTS.B,

25.27%,

1/18/27

..

1,654

253

L2435111.UP.FTS.B,

25.27%,

1/18/27

....

1,891

1,876

L2437834.UP.FTS.B,

25.39%,

1/18/27

....

10,307

10,170

L2437709.UP.FTS.B,

25.43%,

1/18/27

....

2,336

355

FW2437643.UP.FTS.B,

25.44%,

1/18/27

..

16,994

16,857

L2435585.UP.FTS.B,

25.45%,

1/18/27

....

1,313

1,302

L2435792.UP.FTS.B,

25.45%,

1/18/27

....

2,364

2,333

L2435644.UP.FTS.B,

25.47%,

1/18/27

....

11,916

11,821

L2435696.UP.FTS.B,

25.47%,

1/18/27

....

6,620

6,568

L2435936.UP.FTS.B,

25.47%,

1/18/27

....

1,891

1,876

L2436279.UP.FTS.B,

25.97%,

1/18/27

....

3,880

3,850

FW2435607.UP.FTS.B,

26.08%,

1/18/27

..

2,359

2,336

FW2439188.UP.FTS.B,

26.09%,

1/18/27

..

8,658

8,556

L2436396.UP.FTS.B,

26.15%,

1/18/27

....

27,926

27,704

FW2436593.UP.FTS.B,

26.2%,

1/18/27

...

13,159

12,980

L2439306.UP.FTS.B,

26.22%,

1/18/27

....

4,207

3,991

FW2437462.UP.FTS.B,

26.24%,

1/18/27

..

47,339

46,963

FW2435944.UP.FTS.B,

26.26%,

1/18/27

..

3,703

3,673

L2436823.UP.FTS.B,

26.4%,

1/18/27

....

3,693

3,664

L2435959.UP.FTS.B,

26.49%,

1/18/27

....

8,524

8,456

FW2436713.UP.FTS.B,

26.86%,

1/18/27

..

9,452

9,375

FW2435703.UP.FTS.B,

27.19%,

1/18/27

..

1,422

1,403

FW2438660.UP.FTS.B,

27.49%,

1/18/27

..

3,795

3,764

L2437504.UP.FTS.B,

27.79%,

1/18/27

....

1,708

1,694

FW2435658.UP.FTS.B,

27.83%,

1/18/27

..

285

281

FW2439287.UP.FTS.B,

27.86%,

1/18/27

..

7,943

7,871

FW2436155.UP.FTS.B,

27.89%,

1/18/27

..

8,596

8,529

FW2437301.UP.FTS.B,

28.28%,

1/18/27

..

27,481

27,220

FW2436660.UP.FTS.B,

28.46%,

1/18/27

..

3,799

3,769

FW2435922.UP.FTS.B,

28.48%,

1/18/27

..

3,800

3,769

FW2435640.UP.FTS.B,

28.51%,

1/18/27

..

4,744

4,706

FW2438088.UP.FTS.B,

28.61%,

1/18/27

..

4,560

4,523

FW2435573.UP.FTS.B,

28.71%,

1/18/27

..

8,931

8,859

FW2436022.UP.FTS.B,

28.8%,

1/18/27

...

9,900

702

FW2438416.UP.FTS.B,

28.97%,

1/18/27

..

1,426

1,414

FW2437955.UP.FTS.B,

29.06%,

1/18/27

..

33,578

31,853

FW2437190.UP.FTS.B,

29.17%,

1/18/27

..

3,327

3,301

FW2437152.UP.FTS.B,

29.32%,

1/18/27

..

7,226

7,169

FW2435672.UP.FTS.B,

29.47%,

1/18/27

..

1,416

1,403

FW2436839.UP.FTS.B,

29.58%,

1/18/27

..

474

468

FW2438725.UP.FTS.B,

29.91%,

1/18/27

..

5,845

5,554

FW2435140.UP.FTS.B,

30.13%,

1/18/27

..

8,558

8,489

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

131

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

FW2435564.UP.FTS.B,

30.13%,

1/18/27

..

$

1,000

$

71

FW2436127.UP.FTS.B,

30.15%,

1/18/27

..

7,139

7,082

FW2436439.UP.FTS.B,

30.41%,

1/18/27

..

4,172

290

FW2438349.UP.FTS.B,

30.51%,

1/18/27

..

1,534

1,518

FW2435569.UP.FTS.B,

30.79%,

1/18/27

..

3,800

268

FW2436417.UP.FTS.B,

30.84%,

1/18/27

..

5,716

5,671

FW2438913.UP.FTS.B,

30.85%,

1/18/27

..

1,620

1,607

FW2437431.UP.FTS.B,

30.95%,

1/18/27

..

1,710

1,696

FW2438777.UP.FTS.B,

30.99%,

1/18/27

..

1,429

1,418

FW2438891.UP.FTS.B,

31.01%,

1/18/27

..

4,678

4,640

FW2437396.UP.FTS.B,

31.04%,

1/18/27

..

1,673

(8)

FW2437637.UP.FTS.B,

31.11%,

1/18/27

..

1,620

1,607

FW2436414.UP.FTS.B,

31.16%,

1/18/27

..

644

636

FW2437597.UP.FTS.B,

31.16%,

1/18/27

..

1,154

1,095

FW2435617.UP.FTS.B,

31.17%,

1/18/27

..

5,665

5,606

FW2438645.UP.FTS.B,

31.19%,

1/18/27

..

3,051

3,026

FW2438905.UP.FTS.B,

31.2%,

1/18/27

...

1,985

1,925

FW2435630.UP.FTS.B,

31.26%,

1/18/27

..

11,896

(160)

FW2437702.UP.FTS.B,

31.33%,

1/18/27

..

2,287

2,252

FW2437284.UP.FTS.B,

31.34%,

1/18/27

..

1,424

1,412

FW2438118.UP.FTS.B,

31.57%,

1/18/27

..

7,820

7,757

FW2435988.UP.FTS.B,

31.72%,

1/18/27

..

7,677

(57)

FW2438330.UP.FTS.B,

31.74%,

1/18/27

..

3,434

3,406

FW2437025.UP.FTS.B,

32.34%,

1/18/27

..

4,486

4,450

FW2439101.UP.FTS.B,

32.41%,

1/18/27

..

4,486

4,262

L2604537.UP.FTS.B,

4.81%,

2/10/27

....

20,171

20,110

L2607506.UP.FTS.B,

5.59%,

2/10/27

....

46,329

46,191

FW2607187.UP.FTS.B,

7.26%,

2/10/27

...

37,175

36,982

L2528315.UP.FTS.B,

7.51%,

2/10/27

....

10,692

10,637

L2604772.UP.FTS.B,

7.89%,

2/10/27

....

25,214

25,084

L2604123.UP.FTS.B,

8.47%,

2/10/27

....

8,382

8,339

L2608785.UP.FTS.B,

8.52%,

2/10/27

....

13,505

13,436

L2609006.UP.FTS.B,

8.83%,

2/10/27

....

8,387

8,344

L2606077.UP.FTS.B,

9.33%,

2/10/27

....

2,792

2,778

FW2594995.UP.FTS.B,

9.66%,

2/10/27

...

27,064

26,927

L2607571.UP.FTS.B,

9.71%,

2/10/27

....

18,666

18,572

L2606288.UP.FTS.B,

9.78%,

2/10/27

....

7,310

7,271

L2604523.UP.FTS.B,

10.02%,

2/10/27

....

16,341

16,259

L2608678.UP.FTS.B,

11.38%,

2/10/27

....

4,211

4,179

L2608808.UP.FTS.B,

11.45%,

2/10/27

....

2,505

2,482

L2603278.UP.FTS.B,

11.56%,

2/10/27

....

5,479

5,434

L2606699.UP.FTS.B,

11.87%,

2/10/27

....

22,463

22,290

L2608120.UP.FTS.B,

12.12%,

2/10/27

....

25,206

25,012

L2607500.UP.FTS.B,

12.17%,

2/10/27

....

17,137

17,005

L2606144.UP.FTS.B,

12.19%,

2/10/27

....

4,577

4,531

L2602160.UP.FTS.B,

13.05%,

2/10/27

....

7,976

7,915

L2606798.UP.FTS.B,

13.38%,

2/10/27

....

9,389

9,317

L2605310.UP.FTS.B,

13.4%,

2/10/27

....

6,267

6,219

L2604725.UP.FTS.B,

13.41%,

2/10/27

....

3,098

3,075

L2608712.UP.FTS.B,

13.54%,

2/10/27

....

3,756

3,728

L2607120.UP.FTS.B,

13.67%,

2/10/27

....

16,472

16,339

L2607851.UP.FTS.B,

13.68%,

2/10/27

....

32,876

32,626

L2607960.UP.FTS.B,

13.74%,

2/10/27

....

7,046

6,992

FW2604743.UP.FTS.B,

13.75%,

2/10/27

..

12,212

12,120

L2581968.UP.FTS.B,

13.8%,

2/10/27

....

10,382

10,301

FW2606882.UP.FTS.B,

13.95%,

2/10/27

..

7,518

7,461

FW2605016.UP.FTS.B,

14.07%,

2/10/27

..

28,948

28,729

L2560503.UP.FTS.B,

14.15%,

2/10/27

....

23,500

23,322

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW2608211.UP.FTS.B,

14.17%,

2/10/27

..

$

28,201

$

27,987

L2603024.UP.FTS.B,

14.31%,

2/10/27

....

6,552

6,502

L2607639.UP.FTS.B,

14.65%,

2/10/27

....

30,009

29,782

L2603034.UP.FTS.B,

14.68%,

2/10/27

....

9,784

9,671

L2603677.UP.FTS.B,

14.69%,

2/10/27

....

14,112

14,005

FW2606203.UP.FTS.B,

14.78%,

2/10/27

..

3,011

2,988

FW2602616.UP.FTS.B,

14.79%,

2/10/27

..

47,084

46,729

L2603660.UP.FTS.B,

14.88%,

2/10/27

....

8,245

8,179

FW2608483.UP.FTS.B,

15.02%,

2/10/27

..

6,589

6,539

FW2608870.UP.FTS.B,

15.02%,

2/10/27

..

14,080

13,972

FW2607554.UP.FTS.B,

15.11%,

2/10/27

..

4,895

4,839

L2602863.UP.FTS.B,

15.13%,

2/10/27

....

3,766

3,722

FW2602511.UP.FTS.B,

15.19%,

2/10/27

..

26,550

26,350

L2607940.UP.FTS.B,

15.26%,

2/10/27

....

5,907

5,862

L2605446.UP.FTS.B,

15.44%,

2/10/27

....

4,144

4,096

L2599419.UP.FTS.B,

15.54%,

2/10/27

....

16,956

16,761

L2608264.UP.FTS.B,

15.55%,

2/10/27

....

23,550

23,279

L2606023.UP.FTS.B,

15.7%,

2/10/27

....

3,769

3,741

L2602901.UP.FTS.B,

15.85%,

2/10/27

....

7,349

7,261

L2609082.UP.FTS.B,

16.06%,

2/10/27

....

19,890

19,740

L2609598.UP.FTS.B,

16.23%,

2/10/27

....

14,144

13,982

L2607076.UP.FTS.B,

16.42%,

2/10/27

....

22,933

22,751

L2607527.UP.FTS.B,

16.61%,

2/10/27

....

3,963

163

L2603136.UP.FTS.B,

17.13%,

2/10/27

....

18,884

18,667

L2606954.UP.FTS.B,

17.42%,

2/10/27

....

3,306

3,268

FW2602895.UP.FTS.B,

17.44%,

2/10/27

..

9,871

9,756

L2604751.UP.FTS.B,

17.73%,

2/10/27

....

945

934

FW2609494.UP.FTS.B,

18.3%,

2/10/27

...

4,729

4,675

FW2607843.UP.FTS.B,

18.35%,

2/10/27

..

7,305

7,216

FW2606517.UP.FTS.B,

18.44%,

2/10/27

..

7,628

7,547

FW2604508.UP.FTS.B,

18.54%,

2/10/27

..

4,741

4,677

FW2603450.UP.FTS.B,

19.07%,

2/10/27

..

11,267

11,138

FW2606893.UP.FTS.B,

19.31%,

2/10/27

..

4,740

4,674

FW2604033.UP.FTS.B,

19.37%,

2/10/27

..

9,282

9,151

FW2607400.UP.FTS.B,

19.48%,

2/10/27

..

1,910

1,885

L2607704.UP.FTS.B,

19.62%,

2/10/27

....

11,140

11,021

FW2607917.UP.FTS.B,

19.71%,

2/10/27

..

10,351

5,740

L2608142.UP.FTS.B,

19.78%,

2/10/27

....

8,245

8,165

L2609186.UP.FTS.B,

20.18%,

2/10/27

....

5,439

156

FW2605836.UP.FTS.B,

20.24%,

2/10/27

..

1,897

1,870

L2609196.UP.FTS.B,

20.26%,

2/10/27

....

5,690

5,610

FW2603798.UP.FTS.B,

20.35%,

2/10/27

..

8,721

2,501

L2608662.UP.FTS.B,

20.51%,

2/10/27

....

4,846

1,390

FW2608136.UP.FTS.B,

20.57%,

2/10/27

..

3,795

3,741

L2607782.UP.FTS.B,

20.62%,

2/10/27

....

3,024

2,990

L2604705.UP.FTS.B,

20.86%,

2/10/27

....

6,169

6,109

L2607501.UP.FTS.B,

20.9%,

2/10/27

....

5,695

5,640

L2580476.UP.FTS.B,

20.98%,

2/10/27

....

3,174

3,117

L2604242.UP.FTS.B,

21.11%,

2/10/27

....

4,761

4,697

FW2607597.UP.FTS.B,

21.25%,

2/10/27

..

2,089

2,060

L2604520.UP.FTS.B,

21.28%,

2/10/27

....

954

944

FW2601053.UP.FTS.B,

21.37%,

2/10/27

..

1,425

1,405

L2609346.UP.FTS.B,

21.52%,

2/10/27

....

19,948

19,667

L2603922.UP.FTS.B,

21.73%,

2/10/27

....

5,226

5,175

L2608576.UP.FTS.B,

21.77%,

2/10/27

....

3,991

3,952

FW2603891.UP.FTS.B,

21.96%,

2/10/27

..

15,256

15,054

L2608126.UP.FTS.B,

22.06%,

2/10/27

....

4,634

4,585

L2603732.UP.FTS.B,

22.26%,

2/10/27

....

4,192

4,136

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

132

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2607211.UP.FTS.B,

22.39%,

2/10/27

....

$

2,852

$

2,825

L2606901.UP.FTS.B,

22.53%,

2/10/27

....

2,188

2,157

FW2607078.UP.FTS.B,

22.55%,

2/10/27

..

2,949

2,920

FW2608208.UP.FTS.B,

22.58%,

2/10/27

..

10,463

10,362

L2604735.UP.FTS.B,

22.59%,

2/10/27

....

17,493

17,242

L2602916.UP.FTS.B,

22.8%,

2/10/27

....

4,377

4,334

L2605822.UP.FTS.B,

22.8%,

2/10/27

....

4,757

4,711

L2602456.UP.FTS.B,

22.85%,

2/10/27

....

7,612

7,539

L2608552.UP.FTS.B,

22.9%,

2/10/27

....

2,855

2,827

L2608111.UP.FTS.B,

23.17%,

2/10/27

....

15,326

15,178

FW2603295.UP.FTS.B,

23.18%,

2/10/27

..

9,519

9,427

L2605681.UP.FTS.B,

23.22%,

2/10/27

....

4,760

4,714

L2603641.UP.FTS.B,

23.37%,

2/10/27

....

3,618

3,583

FW2602599.UP.FTS.B,

23.5%,

2/10/27

...

7,333

7,262

L2608553.UP.FTS.B,

23.5%,

2/10/27

....

8,559

8,476

L2606964.UP.FTS.B,

23.53%,

2/10/27

....

952

943

L2603530.UP.FTS.B,

23.57%,

2/10/27

....

6,619

6,534

L2606750.UP.FTS.B,

23.58%,

2/10/27

....

1,843

1,816

L2606747.UP.FTS.B,

23.7%,

2/10/27

....

9,462

9,366

FW2609091.UP.FTS.B,

23.84%,

2/10/27

..

4,606

4,555

L2604424.UP.FTS.B,

24.29%,

2/10/27

....

9,306

9,214

L2604262.UP.FTS.B,

24.39%,

2/10/27

....

4,767

4,721

FW2605000.UP.FTS.B,

24.47%,

2/10/27

..

5,244

5,193

FW2604966.UP.FTS.B,

24.55%,

2/10/27

..

19,071

18,804

L2609347.UP.FTS.B,

24.63%,

2/10/27

....

8,865

8,786

L2601898.UP.FTS.B,

24.69%,

2/10/27

....

1,335

1,322

L2603565.UP.FTS.B,

24.79%,

2/10/27

....

1,340

1,323

FW2608165.UP.FTS.B,

24.94%,

2/10/27

..

33,389

33,067

FW2608779.UP.FTS.B,

24.99%,

2/10/27

..

9,474

9,378

L2608693.UP.FTS.B,

24.99%,

2/10/27

....

1,526

1,512

L2608510.UP.FTS.B,

25%,

2/10/27

......

1,908

1,890

L2605594.UP.FTS.B,

25.02%,

2/10/27

....

2,671

2,646

FW2602240.UP.FTS.B,

25.03%,

2/10/27

..

6,219

6,160

L2603615.UP.FTS.B,

25.04%,

2/10/27

....

21,118

20,899

L2606879.UP.FTS.B,

25.04%,

2/10/27

....

2,139

618

L2603919.UP.FTS.B,

25.13%,

2/10/27

....

1,070

1,056

L2602961.UP.FTS.B,

25.15%,

2/10/27

....

4,771

4,704

L2603328.UP.FTS.B,

25.17%,

2/10/27

....

954

945

FW2603122.UP.FTS.B,

25.21%,

2/10/27

..

4,771

4,705

L2604053.UP.FTS.B,

25.25%,

2/10/27

....

1,813

1,796

L2606928.UP.FTS.B,

25.27%,

2/10/27

....

2,004

1,976

L2578952.UP.FTS.B,

25.3%,

2/10/27

....

931

922

L2607974.UP.FTS.B,

25.3%,

2/10/27

....

8,876

8,790

L2609551.UP.FTS.B,

25.3%,

2/10/27

....

2,482

2,458

FW2604982.UP.FTS.B,

25.32%,

2/10/27

..

14,316

14,178

L2606195.UP.FTS.B,

25.33%,

2/10/27

....

1,334

1,321

L2602226.UP.FTS.B,

25.35%,

2/10/27

....

1,691

1,670

FW2606361.UP.FTS.B,

25.37%,

2/10/27

..

10,442

10,340

FW2608965.UP.FTS.B,

25.39%,

2/10/27

..

6,681

6,617

FW2609019.UP.FTS.B,

25.41%,

2/10/27

..

5,267

5,217

L2572476.UP.FTS.B,

25.45%,

2/10/27

....

13,449

13,318

L2608845.UP.FTS.B,

25.47%,

2/10/27

....

3,055

3,025

L2607608.UP.FTS.B,

25.48%,

2/10/27

....

1,233

1,220

L2609282.UP.FTS.B,

25.49%,

2/10/27

....

6,491

6,429

L2608348.UP.FTS.B,

25.54%,

2/10/27

....

5,728

5,673

L2603713.UP.FTS.B,

25.81%,

2/10/27

....

3,318

3,285

FW2604813.UP.FTS.B,

25.83%,

2/10/27

..

6,685

6,621

L2586417.UP.FTS.B,

25.9%,

2/10/27

....

9,264

9,175

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW2609054.UP.FTS.B,

25.93%,

2/10/27

..

$

9,642

$

9,555

L2605704.UP.FTS.B,

25.94%,

2/10/27

....

2,483

2,456

L2609436.UP.FTS.B,

26.18%,

2/10/27

....

6,392

1,856

FW2606426.UP.FTS.B,

26.19%,

2/10/27

..

3,273

3,240

FW2606616.UP.FTS.B,

26.25%,

2/10/27

..

1,911

1,893

L2605322.UP.FTS.B,

26.41%,

2/10/27

....

17,297

17,131

FW2604860.UP.FTS.B,

26.47%,

2/10/27

..

5,256

5,206

FW2607306.UP.FTS.B,

26.66%,

2/10/27

..

2,868

2,840

FW2608671.UP.FTS.B,

26.81%,

2/10/27

..

9,561

9,469

FW2609287.UP.FTS.B,

26.96%,

2/10/27

..

1,947

564

FW2606038.UP.FTS.B,

26.97%,

2/10/27

..

1,208

1,188

FW2607888.UP.FTS.B,

27.06%,

2/10/27

..

12,383

12,261

FW2608836.UP.FTS.B,

27.23%,

2/10/27

..

4,793

4,748

L2604862.UP.FTS.B,

27.57%,

2/10/27

....

9,760

9,667

FW2605155.UP.FTS.B,

27.62%,

2/10/27

..

2,321

2,300

FW2603425.UP.FTS.B,

27.81%,

2/10/27

..

3,258

3,224

FW2608293.UP.FTS.B,

27.82%,

2/10/27

..

21,171

6,145

FW2607049.UP.FTS.B,

28.08%,

2/10/27

..

1,819

1,802

FW2608113.UP.FTS.B,

28.22%,

2/10/27

..

3,545

3,511

L2602880.UP.FTS.B,

28.57%,

2/10/27

....

4,026

2,415

FW2606463.UP.FTS.B,

28.58%,

2/10/27

..

17,244

17,079

FW2607742.UP.FTS.B,

28.79%,

2/10/27

..

21,301

21,113

L2604713.UP.FTS.B,

28.85%,

2/10/27

....

7,865

2,290

FW2607113.UP.FTS.B,

29.38%,

2/10/27

..

2,953

432

FW2605555.UP.FTS.B,

29.52%,

2/10/27

..

2,206

2,185

FW2603300.UP.FTS.B,

29.62%,

2/10/27

..

13,523

13,394

FW2607032.UP.FTS.B,

29.66%,

2/10/27

..

26,088

25,839

FW2605866.UP.FTS.B,

29.72%,

2/10/27

..

1,146

1,135

FW2605064.UP.FTS.B,

30.07%,

2/10/27

..

4,126

4,087

FW2608931.UP.FTS.B,

30.09%,

2/10/27

..

6,909

6,843

FW2607425.UP.FTS.B,

30.29%,

2/10/27

..

1,920

1,901

FW2603503.UP.FTS.B,

30.36%,

2/10/27

..

5,951

5,894

FW2602228.UP.FTS.B,

30.45%,

2/10/27

..

6,719

6,655

FW2607282.UP.FTS.B,

30.52%,

2/10/27

..

5,843

5,794

FW2608393.UP.FTS.B,

30.6%,

2/10/27

...

1,920

1,902

FW2606855.UP.FTS.B,

30.72%,

2/10/27

..

2,263

330

FW2608220.UP.FTS.B,

30.8%,

2/10/27

...

4,954

(52)

FW2608035.UP.FTS.B,

30.99%,

2/10/27

..

1,066

639

FW2606199.UP.FTS.B,

31.02%,

2/10/27

..

2,906

2,880

FW2603700.UP.FTS.B,

31.08%,

2/10/27

..

1,922

1,903

FW2608087.UP.FTS.B,

31.16%,

2/10/27

..

4,052

592

FW2607815.UP.FTS.B,

31.17%,

2/10/27

..

2,449

2,422

FW2605935.UP.FTS.B,

31.23%,

2/10/27

..

5,956

5,900

FW2607601.UP.FTS.B,

31.23%,

2/10/27

..

1,240

1,221

FW2606754.UP.FTS.B,

31.29%,

2/10/27

..

3,651

3,616

FW2606293.UP.FTS.B,

31.31%,

2/10/27

..

4,804

4,758

FW2603079.UP.FTS.B,

31.33%,

2/10/27

..

5,857

1,708

FW2603092.UP.FTS.B,

31.42%,

2/10/27

..

3,800

265

FW2604964.UP.FTS.B,

31.43%,

2/10/27

..

3,171

3,141

FW2607854.UP.FTS.B,

31.49%,

2/10/27

..

5,766

5,711

FW2606856.UP.FTS.B,

31.53%,

2/10/27

..

4,500

1,313

FW2602032.UP.FTS.B,

31.57%,

2/10/27

..

5,040

4,995

FW2604730.UP.FTS.B,

31.73%,

2/10/27

..

7,409

7,339

FW2601550.UP.FTS.B,

33.99%,

2/10/27

..

2,541

2,520

L2610465.UP.FTS.B,

5.18%,

2/11/27

.....

23,147

23,079

L2612729.UP.FTS.B,

6.04%,

2/11/27

.....

13,795

13,755

L2570795.UP.FTS.B,

6.48%,

2/11/27

.....

9,273

9,247

L2610259.UP.FTS.B,

6.78%,

2/11/27

.....

5,757

5,741

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

133

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

FW2614143.UP.FTS.B,

6.93%,

2/11/27

...

$

3,715

$

3,705

L2588879.UP.FTS.B,

7.55%,

2/11/27

.....

1,395

1,391

L2611556.UP.FTS.B,

8.27%,

2/11/27

.....

9,584

9,530

L2610842.UP.FTS.B,

9.27%,

2/11/27

.....

10,445

10,393

L2613434.UP.FTS.B,

9.37%,

2/11/27

.....

14,085

14,015

L2610221.UP.FTS.B,

9.67%,

2/11/27

.....

933

929

FW2610585.UP.FTS.B,

9.75%,

2/11/27

...

23,325

23,209

L2614166.UP.FTS.B,

10.03%,

2/11/27

....

3,268

3,252

L2611172.UP.FTS.B,

10.14%,

2/11/27

....

2,802

2,781

FW2612535.UP.FTS.B,

10.28%,

2/11/27

..

46,564

46,331

FW2612347.UP.FTS.B,

10.88%,

2/11/27

..

37,514

37,246

L2611011.UP.FTS.B,

11.03%,

2/11/27

....

15,138

15,023

FW2613043.UP.FTS.B,

11.2%,

2/11/27

...

11,976

11,885

L2610880.UP.FTS.B,

11.35%,

2/11/27

....

9,358

9,288

L2615397.UP.FTS.B,

11.54%,

2/11/27

....

6,553

6,503

L2615183.UP.FTS.B,

12.14%,

2/11/27

....

11,244

11,160

FW2614588.UP.FTS.B,

12.34%,

2/11/27

..

7,124

7,070

L2615652.UP.FTS.B,

12.4%,

2/11/27

.....

3,937

3,908

FW2612477.UP.FTS.B,

12.41%,

2/11/27

..

14,062

13,956

L2612452.UP.FTS.B,

12.6%,

2/11/27

.....

10,315

10,238

L2614372.UP.FTS.B,

12.82%,

2/11/27

....

15,190

15,076

L2614583.UP.FTS.B,

12.97%,

2/11/27

....

10,321

10,244

FW2604554.UP.FTS.B,

13.07%,

2/11/27

..

18,768

18,628

FW2615345.UP.FTS.B,

13.1%,

2/11/27

...

9,771

9,689

L2615756.UP.FTS.B,

13.21%,

2/11/27

....

4,390

4,356

L2614367.UP.FTS.B,

13.3%,

2/11/27

.....

6,009

5,964

L2612579.UP.FTS.B,

13.46%,

2/11/27

....

4,724

4,691

L2612166.UP.FTS.B,

13.67%,

2/11/27

....

6,517

6,467

L2615304.UP.FTS.B,

13.86%,

2/11/27

....

35,422

35,158

L2615143.UP.FTS.B,

13.89%,

2/11/27

....

4,040

4,010

L2614922.UP.FTS.B,

13.97%,

2/11/27

....

10,355

10,282

FW2612651.UP.FTS.B,

14.21%,

2/11/27

..

23,188

23,011

L2612964.UP.FTS.B,

14.24%,

2/11/27

....

11,282

11,198

L2611257.UP.FTS.B,

14.25%,

2/11/27

....

18,803

18,663

L2613233.UP.FTS.B,

14.56%,

2/11/27

....

3,777

3,748

L2614986.UP.FTS.B,

14.63%,

2/11/27

....

4,703

4,669

L2613480.UP.FTS.B,

14.65%,

2/11/27

....

11,289

11,205

L2612726.UP.FTS.B,

14.71%,

2/11/27

....

22,767

22,598

L2615636.UP.FTS.B,

14.73%,

2/11/27

....

26,730

26,418

L2612790.UP.FTS.B,

14.98%,

2/11/27

....

14,871

14,761

L2612114.UP.FTS.B,

14.99%,

2/11/27

....

8,094

8,035

L2614045.UP.FTS.B,

15.28%,

2/11/27

....

5,650

5,608

L2615153.UP.FTS.B,

15.28%,

2/11/27

....

11,299

11,172

FW2613876.UP.FTS.B,

15.29%,

2/11/27

..

2,825

2,793

L2610220.UP.FTS.B,

15.29%,

2/11/27

....

7,533

7,448

L2610243.UP.FTS.B,

15.41%,

2/11/27

....

8,476

8,381

FW2615365.UP.FTS.B,

15.66%,

2/11/27

..

8,951

8,884

L2539854.UP.FTS.B,

15.78%,

2/11/27

....

4,240

4,193

FW2613396.UP.FTS.B,

15.97%,

2/11/27

..

2,074

2,050

L2614279.UP.FTS.B,

15.97%,

2/11/27

....

3,061

1,605

L2614929.UP.FTS.B,

16.21%,

2/11/27

....

4,244

4,212

FW2612990.UP.FTS.B,

16.24%,

2/11/27

..

8,958

8,857

L2611504.UP.FTS.B,

16.36%,

2/11/27

....

5,659

5,617

L2611366.UP.FTS.B,

16.4%,

2/11/27

.....

4,716

4,663

L2610647.UP.FTS.B,

16.52%,

2/11/27

....

7,532

7,477

L2613656.UP.FTS.B,

16.55%,

2/11/27

....

1,857

1,835

L2609633.UP.FTS.B,

17.1%,

2/11/27

.....

5,193

5,121

L2611260.UP.FTS.B,

17.12%,

2/11/27

....

20,037

19,809

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L2613654.UP.FTS.B,

17.15%,

2/11/27

....

$

7,706

$

7,618

L2612163.UP.FTS.B,

17.53%,

2/11/27

....

3,118

3,083

FW2611103.UP.FTS.B,

17.75%,

2/11/27

..

4,725

4,672

L2615159.UP.FTS.B,

17.82%,

2/11/27

....

5,198

5,126

L2610018.UP.FTS.B,

17.84%,

2/11/27

....

2,104

1,166

L2611326.UP.FTS.B,

18.28%,

2/11/27

....

9,447

9,315

L2613884.UP.FTS.B,

18.39%,

2/11/27

....

3,780

3,727

FW2610493.UP.FTS.B,

18.4%,

2/11/27

...

1,674

1,651

L2605567.UP.FTS.B,

18.46%,

2/11/27

....

5,108

5,051

FW2614597.UP.FTS.B,

18.7%,

2/11/27

...

9,453

9,347

L2609725.UP.FTS.B,

18.91%,

2/11/27

....

47,329

46,673

FW2609511.UP.FTS.B,

18.92%,

2/11/27

..

12,306

12,168

FW2610980.UP.FTS.B,

18.94%,

2/11/27

..

9,466

9,360

L2612186.UP.FTS.B,

18.97%,

2/11/27

....

9,626

2,670

L2614124.UP.FTS.B,

18.99%,

2/11/27

....

7,573

7,469

L2614413.UP.FTS.B,

19.06%,

2/11/27

....

25,818

25,621

L2601501.UP.FTS.B,

19.21%,

2/11/27

....

4,640

4,576

L2614334.UP.FTS.B,

19.21%,

2/11/27

....

16,572

16,416

FW2612977.UP.FTS.B,

19.24%,

2/11/27

..

3,300

3,263

L2609505.UP.FTS.B,

19.3%,

2/11/27

.....

1,799

1,786

FW2613564.UP.FTS.B,

19.34%,

2/11/27

..

6,157

6,072

L2611253.UP.FTS.B,

19.34%,

2/11/27

....

9,471

9,366

L2612816.UP.FTS.B,

19.36%,

2/11/27

....

18,943

18,681

L2612042.UP.FTS.B,

19.42%,

2/11/27

....

18,850

18,589

L2612995.UP.FTS.B,

19.69%,

2/11/27

....

9,476

9,370

FW2611297.UP.FTS.B,

19.83%,

2/11/27

..

14,301

14,153

L2600626.UP.FTS.B,

19.96%,

2/11/27

....

47,720

47,106

L2612449.UP.FTS.B,

20.03%,

2/11/27

....

9,607

5,513

FW2614605.UP.FTS.B,

20.34%,

2/11/27

..

4,246

4,205

L2613825.UP.FTS.B,

20.6%,

2/11/27

.....

2,362

2,329

L2609761.UP.FTS.B,

20.76%,

2/11/27

....

4,745

4,700

L2615540.UP.FTS.B,

20.79%,

2/11/27

....

5,694

5,615

L2610020.UP.FTS.B,

20.86%,

2/11/27

....

5,694

5,641

L2612113.UP.FTS.B,

20.93%,

2/11/27

....

7,894

7,778

L2613671.UP.FTS.B,

21.11%,

2/11/27

....

8,023

7,944

FW2612614.UP.FTS.B,

21.12%,

2/11/27

..

9,304

9,217

FW2612937.UP.FTS.B,

21.48%,

2/11/27

..

23,756

23,534

L2612062.UP.FTS.B,

21.51%,

2/11/27

....

1,801

1,776

L2611316.UP.FTS.B,

21.54%,

2/11/27

....

18,999

18,821

L2611816.UP.FTS.B,

21.62%,

2/11/27

....

2,850

2,823

L2605257.UP.FTS.B,

21.7%,

2/11/27

.....

957

948

L2615221.UP.FTS.B,

21.7%,

2/11/27

.....

9,501

9,413

FW2614489.UP.FTS.B,

21.78%,

2/11/27

..

2,851

2,824

L2610270.UP.FTS.B,

21.86%,

2/11/27

....

5,702

5,649

FW2613200.UP.FTS.B,

21.89%,

2/11/27

..

9,527

9,403

L2615421.UP.FTS.B,

22.2%,

2/11/27

.....

10,386

10,268

FW2611510.UP.FTS.B,

22.45%,

2/11/27

..

10,366

10,270

L2612478.UP.FTS.B,

22.55%,

2/11/27

....

1,522

1,508

L2610047.UP.FTS.B,

22.57%,

2/11/27

....

3,044

3,015

L2609810.UP.FTS.B,

22.93%,

2/11/27

....

10,388

2,997

L2610189.UP.FTS.B,

23.14%,

2/11/27

....

10,208

10,108

L2612720.UP.FTS.B,

23.21%,

2/11/27

....

952

939

L2614552.UP.FTS.B,

23.24%,

2/11/27

....

5,245

3,131

L2614621.UP.FTS.B,

23.29%,

2/11/27

....

24,620

24,404

L2604456.UP.FTS.B,

23.33%,

2/11/27

....

3,205

925

L2612674.UP.FTS.B,

23.33%,

2/11/27

....

1,896

1,878

FW2613747.UP.FTS.B,

23.43%,

2/11/27

..

9,521

9,433

L2611969.UP.FTS.B,

23.47%,

2/11/27

....

3,809

3,774

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

134

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2613560.UP.FTS.B,

23.51%,

2/11/27

....

$

2,857

$

2,830

FW2603788.UP.FTS.B,

23.54%,

2/11/27

..

11,652

6,717

L2610518.UP.FTS.B,

23.54%,

2/11/27

....

29,047

28,777

FW2610184.UP.FTS.B,

23.94%,

2/11/27

..

20,914

20,727

L2611149.UP.FTS.B,

23.94%,

2/11/27

....

19,056

18,879

L2579723.UP.FTS.B,

23.99%,

2/11/27

....

14,293

14,160

L2615317.UP.FTS.B,

24.12%,

2/11/27

....

7,148

7,069

L2614419.UP.FTS.B,

24.18%,

2/11/27

....

2,669

2,644

L2613605.UP.FTS.B,

24.19%,

2/11/27

....

4,859

2,903

FW2610639.UP.FTS.B,

24.2%,

2/11/27

...

10,596

1,568

L2614217.UP.FTS.B,

24.23%,

2/11/27

....

2,390

2,368

L2612809.UP.FTS.B,

24.27%,

2/11/27

....

1,335

1,322

FW2611588.UP.FTS.B,

24.58%,

2/11/27

..

9,793

5,858

L2613285.UP.FTS.B,

24.59%,

2/11/27

....

7,240

7,158

FW2610183.UP.FTS.B,

24.68%,

2/11/27

..

5,451

789

FW2611057.UP.FTS.B,

24.84%,

2/11/27

..

23,017

22,810

L2583854.UP.FTS.B,

24.88%,

2/11/27

....

6,459

6,389

FW2610552.UP.FTS.B,

24.93%,

2/11/27

..

3,816

3,780

L2613569.UP.FTS.B,

25.13%,

2/11/27

....

954

945

L2610541.UP.FTS.B,

25.14%,

2/11/27

....

954

941

FW2613750.UP.FTS.B,

25.19%,

2/11/27

..

2,481

2,447

L2609605.UP.FTS.B,

25.19%,

2/11/27

....

5,917

5,862

L2613208.UP.FTS.B,

25.22%,

2/11/27

....

1,431

1,418

L2612096.UP.FTS.B,

25.23%,

2/11/27

....

1,909

1,891

L2613943.UP.FTS.B,

25.28%,

2/11/27

....

3,722

3,688

FW2613609.UP.FTS.B,

25.31%,

2/11/27

..

9,544

9,413

L2609793.UP.FTS.B,

25.33%,

2/11/27

....

2,232

1,335

L2611597.UP.FTS.B,

25.33%,

2/11/27

....

12,409

12,294

L2608705.UP.FTS.B,

25.34%,

2/11/27

....

10,976

10,874

FW2609818.UP.FTS.B,

25.35%,

2/11/27

..

1,718

1,702

L2612020.UP.FTS.B,

25.35%,

2/11/27

....

813

801

FW2614897.UP.FTS.B,

25.36%,

2/11/27

..

3,245

3,215

L2614702.UP.FTS.B,

25.37%,

2/11/27

....

4,124

4,086

L2614470.UP.FTS.B,

25.38%,

2/11/27

....

9,354

9,267

L2611708.UP.FTS.B,

25.41%,

2/11/27

....

6,697

6,636

L2611511.UP.FTS.B,

25.43%,

2/11/27

....

6,155

6,092

L2612279.UP.FTS.B,

25.43%,

2/11/27

....

12,074

11,963

L2613393.UP.FTS.B,

25.43%,

2/11/27

....

1,432

1,419

L2610473.UP.FTS.B,

25.47%,

2/11/27

....

3,628

3,594

L2611698.UP.FTS.B,

25.48%,

2/11/27

....

1,336

1,324

L2615261.UP.FTS.B,

25.48%,

2/11/27

....

2,316

2,288

L2612180.UP.FTS.B,

25.49%,

2/11/27

....

7,925

7,816

FW2612768.UP.FTS.B,

25.53%,

2/11/27

..

7,160

7,093

L2611590.UP.FTS.B,

25.53%,

2/11/27

....

6,683

6,621

L2613244.UP.FTS.B,

25.74%,

2/11/27

....

19,738

19,565

L2615219.UP.FTS.B,

25.79%,

2/11/27

....

10,313

10,218

L2613952.UP.FTS.B,

25.83%,

2/11/27

....

4,297

4,258

FW2614021.UP.FTS.B,

25.84%,

2/11/27

..

10,206

10,106

FW2614342.UP.FTS.B,

25.94%,

2/11/27

..

3,766

2,175

L2610715.UP.FTS.B,

26.1%,

2/11/27

.....

14,333

14,137

L2612621.UP.FTS.B,

26.12%,

2/11/27

....

5,721

5,663

FW2612923.UP.FTS.B,

26.13%,

2/11/27

..

4,777

4,732

L2611604.UP.FTS.B,

26.15%,

2/11/27

....

4,777

4,733

FW2610774.UP.FTS.B,

26.2%,

2/11/27

...

2,102

2,082

L2611846.UP.FTS.B,

26.23%,

2/11/27

....

16,243

16,092

FW2611751.UP.FTS.B,

26.28%,

2/11/27

..

3,344

3,313

L2611064.UP.FTS.B,

26.28%,

2/11/27

....

2,798

1,673

FW2610025.UP.FTS.B,

26.29%,

2/11/27

..

7,322

4,386

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW2612165.UP.FTS.B,

26.3%,

2/11/27

...

$

12,135

$

12,023

FW2608384.UP.FTS.B,

26.32%,

2/11/27

..

4,778

4,733

L2611375.UP.FTS.B,

26.37%,

2/11/27

....

956

947

FW2611559.UP.FTS.B,

26.48%,

2/11/27

..

3,345

3,314

L2614101.UP.FTS.B,

26.5%,

2/11/27

.....

14,336

14,204

L2610613.UP.FTS.B,

26.51%,

2/11/27

....

3,829

3,794

FW2612288.UP.FTS.B,

26.6%,

2/11/27

...

9,559

9,470

FW2613347.UP.FTS.B,

26.68%,

2/11/27

..

1,354

811

L2614297.UP.FTS.B,

26.71%,

2/11/27

....

3,792

3,755

FW2610030.UP.FTS.B,

27.01%,

2/11/27

..

3,466

517

FW2613777.UP.FTS.B,

27.07%,

2/11/27

..

1,819

1,798

FW2615594.UP.FTS.B,

27.19%,

2/11/27

..

10,521

10,424

FW2611293.UP.FTS.B,

27.26%,

2/11/27

..

4,742

4,695

FW2615414.UP.FTS.B,

27.43%,

2/11/27

..

5,358

5,308

FW2614602.UP.FTS.B,

27.68%,

2/11/27

..

19,376

19,140

FW2609816.UP.FTS.B,

27.78%,

2/11/27

..

14,445

14,317

FW2615245.UP.FTS.B,

27.79%,

2/11/27

..

7,657

7,586

FW2615845.UP.FTS.B,

27.84%,

2/11/27

..

8,674

5,193

FW2612642.UP.FTS.B,

27.88%,

2/11/27

..

2,055

2,034

FW2613189.UP.FTS.B,

27.88%,

2/11/27

..

28,717

28,453

FW2613392.UP.FTS.B,

27.98%,

2/11/27

..

11,488

11,382

L2612268.UP.FTS.B,

28.21%,

2/11/27

....

2,490

2,467

FW2614513.UP.FTS.B,

28.27%,

2/11/27

..

1,532

1,518

FW2614302.UP.FTS.B,

28.4%,

2/11/27

...

8,826

8,713

FW2608240.UP.FTS.B,

28.43%,

2/11/27

..

10,535

10,438

FW2608822.UP.FTS.B,

28.45%,

2/11/27

..

8,115

8,032

FW2575001.UP.FTS.B,

28.46%,

2/11/27

..

1,933

1,917

FW2612774.UP.FTS.B,

28.61%,

2/11/27

..

9,580

9,492

FW2610027.UP.FTS.B,

28.67%,

2/11/27

..

4,808

4,764

FW2614134.UP.FTS.B,

28.75%,

2/11/27

..

9,582

9,493

FW2613657.UP.FTS.B,

28.85%,

2/11/27

..

966

958

FW2615423.UP.FTS.B,

28.85%,

2/11/27

..

14,399

14,268

FW2614677.UP.FTS.B,

28.98%,

2/11/27

..

5,271

5,223

FW2612178.UP.FTS.B,

28.99%,

2/11/27

..

3,278

3,224

FW2605210.UP.FTS.B,

29%,

2/11/27

....

10,041

2,925

FW2612081.UP.FTS.B,

29.17%,

2/11/27

..

1,000

70

FW2610237.UP.FTS.B,

29.18%,

2/11/27

..

9,588

9,500

FW2612243.UP.FTS.B,

29.25%,

2/11/27

..

1,719

1,703

FW2609997.UP.FTS.B,

29.28%,

2/11/27

..

7,449

4,467

FW2614794.UP.FTS.B,

29.45%,

2/11/27

..

1,764

125

FW2612629.UP.FTS.B,

29.49%,

2/11/27

..

1,060

1,044

FW2612944.UP.FTS.B,

29.57%,

2/11/27

..

7,097

7,032

FW2615145.UP.FTS.B,

29.62%,

2/11/27

..

9,752

2,843

FW2615061.UP.FTS.B,

29.68%,

2/11/27

..

1,919

1,901

FW2609748.UP.FTS.B,

29.74%,

2/11/27

..

18,600

1,302

FW2610875.UP.FTS.B,

29.89%,

2/11/27

..

7,750

7,684

FW2611777.UP.FTS.B,

30.11%,

2/11/27

..

2,868

2,841

FW2611171.UP.FTS.B,

30.34%,

2/11/27

..

1,920

1,902

FW2609134.UP.FTS.B,

30.35%,

2/11/27

..

4,854

4,815

FW2611548.UP.FTS.B,

30.39%,

2/11/27

..

1,344

1,331

FW2613551.UP.FTS.B,

30.41%,

2/11/27

..

1,920

1,902

FW2609716.UP.FTS.B,

30.54%,

2/11/27

..

1,632

1,617

FW2611463.UP.FTS.B,

30.57%,

2/11/27

..

960

951

FW2610223.UP.FTS.B,

30.62%,

2/11/27

..

2,976

2,949

FW2613801.UP.FTS.B,

30.62%,

2/11/27

..

1,716

1,700

FW2613443.UP.FTS.B,

30.65%,

2/11/27

..

932

922

FW2613911.UP.FTS.B,

30.67%,

2/11/27

..

9,377

9,283

FW2607135.UP.FTS.B,

30.71%,

2/11/27

..

2,593

2,569

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

135

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

FW2615716.UP.FTS.B,

30.71%,

2/11/27

..

$

2,593

$

2,569

FW2614995.UP.FTS.B,

30.8%,

2/11/27

...

544

536

FW2606538.UP.FTS.B,

30.84%,

2/11/27

..

960

951

FW2610775.UP.FTS.B,

30.87%,

2/11/27

..

1,344

1,332

FW2611696.UP.FTS.B,

30.9%,

2/11/27

...

1,921

1,903

FW2612001.UP.FTS.B,

30.9%,

2/11/27

...

2,401

2,379

FW2537180.UP.FTS.B,

30.91%,

2/11/27

..

1,249

1,237

FW2609619.UP.FTS.B,

30.92%,

2/11/27

..

2,690

2,665

FW2615294.UP.FTS.B,

30.92%,

2/11/27

..

1,056

1,047

FW2610104.UP.FTS.B,

30.96%,

2/11/27

..

1,937

1,164

FW2610795.UP.FTS.B,

30.98%,

2/11/27

..

1,057

1,047

FW2609734.UP.FTS.B,

31%,

2/11/27

....

1,249

1,237

FW2613805.UP.FTS.B,

31%,

2/11/27

....

8,986

8,908

FW2612663.UP.FTS.B,

31.02%,

2/11/27

..

3,266

3,236

FW2614165.UP.FTS.B,

31.02%,

2/11/27

..

3,218

940

FW2610734.UP.FTS.B,

31.08%,

2/11/27

..

1,367

822

FW2610814.UP.FTS.B,

31.09%,

2/11/27

..

6,867

6,789

FW2609546.UP.FTS.B,

31.1%,

2/11/27

...

1,153

1,142

FW2614988.UP.FTS.B,

31.1%,

2/11/27

...

18,539

18,369

FW2614037.UP.FTS.B,

31.11%,

2/11/27

..

2,180

(23)

FW2611533.UP.FTS.B,

31.12%,

2/11/27

..

4,156

4,111

FW2610616.UP.FTS.B,

31.16%,

2/11/27

..

9,991

9,899

FW2614591.UP.FTS.B,

31.17%,

2/11/27

..

1,141

1,130

FW2614136.UP.FTS.B,

31.2%,

2/11/27

...

12,690

3,708

FW2611339.UP.FTS.B,

31.23%,

2/11/27

..

2,594

2,570

FW2613645.UP.FTS.B,

31.4%,

2/11/27

...

1,785

1,763

FW2610773.UP.FTS.B,

31.41%,

2/11/27

..

13,836

13,710

FW2613010.UP.FTS.B,

31.5%,

2/11/27

...

3,840

3,804

FW2611798.UP.FTS.B,

31.65%,

2/11/27

..

8,073

8,000

FW2611159.UP.FTS.B,

31.78%,

2/11/27

..

6,120

6,062

FW2612349.UP.FTS.B,

31.97%,

2/11/27

..

6,345

6,287

FW2610510.UP.FTS.B,

33.6%,

2/11/27

...

1,637

1,622

FW2599054.UP.FTS.B,

33.95%,

2/11/27

..

2,181

319

FW2613644.UP.FTS.B,

33.97%,

2/11/27

..

6,797

6,740

FW2614310.UP.FTS.B,

33.97%,

2/11/27

..

2,119

2,100

FW2610903.UP.FTS.B,

34.14%,

2/11/27

..

20,522

20,335

FW2615534.UP.FTS.B,

34.51%,

2/11/27

..

4,723

4,680

FW2615210.UP.FTS.B,

34.61%,

2/11/27

..

10,000

1,468

L2617298.UP.FTS.B,

5.1%,

2/14/27

.....

10,183

10,152

L2618466.UP.FTS.B,

5.11%,

2/14/27

.....

21,293

21,228

L2617141.UP.FTS.B,

5.84%,

2/14/27

....

7,045

7,024

L2616590.UP.FTS.B,

7.87%,

2/14/27

....

24,589

24,461

FW2617554.UP.FTS.B,

9.01%,

2/14/27

...

4,091

4,069

L2616809.UP.FTS.B,

11.55%,

2/14/27

....

5,617

5,574

L2618109.UP.FTS.B,

12.08%,

2/14/27

....

31,481

31,239

L2616387.UP.FTS.B,

12.27%,

2/14/27

....

6,561

6,510

L2618980.UP.FTS.B,

12.97%,

2/14/27

....

15,951

15,828

L2617640.UP.FTS.B,

13%,

2/14/27

......

14,062

13,941

FW2616181.UP.FTS.B,

13.1%,

2/14/27

...

6,211

5,850

L2616333.UP.FTS.B,

13.75%,

2/14/27

....

32,880

32,627

L2617800.UP.FTS.B,

13.82%,

2/14/27

....

4,992

4,956

L2617493.UP.FTS.B,

13.84%,

2/14/27

....

20,294

20,138

L2615653.UP.FTS.B,

14.07%,

2/14/27

....

2,760

2,738

L2618908.UP.FTS.B,

14.12%,

2/14/27

....

28,197

27,980

L2610061.UP.FTS.B,

14.43%,

2/14/27

....

23,510

23,329

FW2616422.UP.FTS.B,

14.55%,

2/14/27

..

5,079

5,040

L2616226.UP.FTS.B,

14.8%,

2/14/27

....

5,646

5,582

L2615988.UP.FTS.B,

15.04%,

2/14/27

....

12,238

12,099

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L2617062.UP.FTS.B,

15.98%,

2/14/27

....

$

7,070

$

7,015

L2616756.UP.FTS.B,

16.56%,

2/14/27

....

16,054

4,340

L2617675.UP.FTS.B,

16.73%,

2/14/27

....

9,437

9,330

L2616432.UP.FTS.B,

16.81%,

2/14/27

....

7,550

7,464

L2615821.UP.FTS.B,

16.82%,

2/14/27

....

3,769

3,726

FW2616510.UP.FTS.B,

17.3%,

2/14/27

...

4,343

4,283

FW2616193.UP.FTS.B,

17.47%,

2/14/27

..

1,417

1,401

L2617103.UP.FTS.B,

18.14%,

2/14/27

....

7,092

6,993

L2616245.UP.FTS.B,

18.36%,

2/14/27

....

18,822

18,605

L2616168.UP.FTS.B,

18.99%,

2/14/27

....

13,254

13,069

L2616269.UP.FTS.B,

19.1%,

2/14/27

....

23,677

23,349

L2615913.UP.FTS.B,

19.56%,

2/14/27

....

5,684

5,605

L2616072.UP.FTS.B,

19.58%,

2/14/27

....

3,865

3,810

L2616155.UP.FTS.B,

19.61%,

2/14/27

....

15,444

15,268

L2616722.UP.FTS.B,

19.8%,

2/14/27

....

5,497

5,446

L2616852.UP.FTS.B,

19.82%,

2/14/27

....

6,634

6,542

L2617650.UP.FTS.B,

20%,

2/14/27

......

9,134

8,983

L2616174.UP.FTS.B,

20.55%,

2/14/27

....

1,326

1,307

FW2618465.UP.FTS.B,

20.69%,

2/14/27

..

9,547

9,435

FW2616317.UP.FTS.B,

21.24%,

2/14/27

..

5,500

396

L2616268.UP.FTS.B,

21.47%,

2/14/27

....

2,134

618

FW2615937.UP.FTS.B,

21.82%,

2/14/27

..

9,442

9,352

L2614826.UP.FTS.B,

22.6%,

2/14/27

....

5,232

5,183

L2616825.UP.FTS.B,

22.66%,

2/14/27

....

5,518

5,466

L2618824.UP.FTS.B,

22.89%,

2/14/27

....

4,092

4,054

FW2617069.UP.FTS.B,

23.16%,

2/14/27

..

28,536

28,267

FW2616143.UP.FTS.B,

23.3%,

2/14/27

...

6,380

6,055

L2617672.UP.FTS.B,

23.43%,

2/14/27

....

7,618

7,546

L2616450.UP.FTS.B,

23.7%,

2/14/27

....

9,525

9,416

L2615942.UP.FTS.B,

23.87%,

2/14/27

....

17,625

17,459

L2616953.UP.FTS.B,

23.9%,

2/14/27

....

4,784

4,740

L2616204.UP.FTS.B,

24.08%,

2/14/27

....

3,812

3,776

L2616634.UP.FTS.B,

24.08%,

2/14/27

....

6,606

6,510

L2617402.UP.FTS.B,

24.27%,

2/14/27

....

3,324

3,277

L2618649.UP.FTS.B,

24.27%,

2/14/27

....

10,445

10,349

L2612509.UP.FTS.B,

24.31%,

2/14/27

....

5,720

5,666

L2616368.UP.FTS.B,

24.5%,

2/14/27

....

10,297

10,200

FW2616861.UP.FTS.B,

24.71%,

2/14/27

..

4,769

4,724

L2618528.UP.FTS.B,

24.88%,

2/14/27

....

1,287

16

L2617237.UP.FTS.B,

25.14%,

2/14/27

....

4,389

4,328

L2616214.UP.FTS.B,

25.17%,

2/14/27

....

157

156

L2616717.UP.FTS.B,

25.42%,

2/14/27

....

2,386

2,364

L2617627.UP.FTS.B,

25.47%,

2/14/27

....

1,623

1,607

L2616342.UP.FTS.B,

25.49%,

2/14/27

....

1,909

1,891

L2615878.UP.FTS.B,

25.5%,

2/14/27

....

8,083

8,010

L2616295.UP.FTS.B,

25.51%,

2/14/27

....

2,700

2,558

L2605072.UP.FTS.B,

25.64%,

2/14/27

....

2,578

2,553

L2617283.UP.FTS.B,

25.65%,

2/14/27

....

5,347

5,296

L2617648.UP.FTS.B,

25.74%,

2/14/27

....

9,567

9,471

FW2617973.UP.FTS.B,

26.17%,

2/14/27

..

7,261

7,192

L2616653.UP.FTS.B,

26.28%,

2/14/27

....

3,314

3,142

FW2618179.UP.FTS.B,

26.76%,

2/14/27

..

3,407

998

L2616680.UP.FTS.B,

26.86%,

2/14/27

....

1,440

1,363

FW2617548.UP.FTS.B,

27.57%,

2/14/27

..

7,707

7,583

FW2616127.UP.FTS.B,

27.61%,

2/14/27

..

3,828

3,791

FW2617029.UP.FTS.B,

27.81%,

2/14/27

..

1,907

1,884

FW2618197.UP.FTS.B,

27.81%,

2/14/27

..

16,655

16,496

FW2617490.UP.FTS.B,

27.91%,

2/14/27

..

30,633

30,341

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

136

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

FW2616788.UP.FTS.B,

28.08%,

2/14/27

..

$

11,681

$

11,570

FW2617614.UP.FTS.B,

28.35%,

2/14/27

..

19,332

19,159

FW2618814.UP.FTS.B,

28.99%,

2/14/27

..

6,230

6,170

FW2616297.UP.FTS.B,

29.75%,

2/14/27

..

5,342

5,297

FW2616093.UP.FTS.B,

29.88%,

2/14/27

..

6,764

6,702

FW2615990.UP.FTS.B,

30.24%,

2/14/27

..

2,894

2,867

FW2617504.UP.FTS.B,

30.27%,

2/14/27

..

18,715

18,535

FW2617595.UP.FTS.B,

30.34%,

2/14/27

..

1,920

1,901

FW2616525.UP.FTS.B,

30.65%,

2/14/27

..

6,241

6,181

FW2617952.UP.FTS.B,

30.8%,

2/14/27

...

1,152

1,141

FW2618539.UP.FTS.B,

30.94%,

2/14/27

..

5,792

5,738

FW2615979.UP.FTS.B,

30.99%,

2/14/27

..

915

904

FW2618159.UP.FTS.B,

31.09%,

2/14/27

..

5,835

5,777

FW2616218.UP.FTS.B,

31.14%,

2/14/27

..

1,249

1,237

FW2616908.UP.FTS.B,

31.23%,

2/14/27

..

4,996

4,947

FW2618031.UP.FTS.B,

31.37%,

2/14/27

..

25,602

25,372

FW2618241.UP.FTS.B,

31.49%,

2/14/27

..

8,649

8,565

L1717984.UP.FTS.B,

22.49%,

2/15/27

....

3,005

2,959

L1716537.UP.FTS.B,

25.41%,

2/15/27

....

1,676

1,652

FW1887715.UP.FTS.B,

13.02%,

3/20/27

..

7,140

6,735

L1883950.UP.FTS.B,

24.4%,

3/20/27

....

6,545

6,502

FW1884398.UP.FTS.B,

30.02%,

3/20/27

..

4,767

4,742

FW2949972.UP.FTS.B,

5.25%,

4/14/27

...

5,736

5,728

L2949814.UP.FTS.B,

5.88%,

4/14/27

....

8,574

8,558

L2950297.UP.FTS.B,

6.09%,

4/14/27

....

4,114

4,109

L2949364.UP.FTS.B,

6.36%,

4/14/27

....

2,106

2,102

L2949121.UP.FTS.B,

6.79%,

4/14/27

....

16,375

16,348

L2950010.UP.FTS.B,

6.8%,

4/14/27

.....

6,703

6,692

L2949215.UP.FTS.B,

6.84%,

4/14/27

....

18,482

18,453

L2951687.UP.FTS.B,

7.49%,

4/14/27

....

13,417

13,401

L2951012.UP.FTS.B,

7.81%,

4/14/27

....

11,293

11,275

L2951121.UP.FTS.B,

7.86%,

4/14/27

.....

15,229

15,174

L2949243.UP.FTS.B,

7.9%,

4/14/27

.....

6,136

6,127

L2950930.UP.FTS.B,

9.09%,

4/14/27

....

6,144

6,124

L2949685.UP.FTS.B,

9.14%,

4/14/27

....

3,840

3,827

L2949220.UP.FTS.B,

9.21%,

4/14/27

....

7,891

7,861

L2949833.UP.FTS.B,

9.25%,

4/14/27

....

20,834

20,767

L2949108.UP.FTS.B,

9.33%,

4/14/27

....

15,459

15,409

FW2951315.UP.FTS.B,

9.91%,

4/14/27

...

6,149

6,134

L2951245.UP.FTS.B,

9.94%,

4/14/27

....

9,608

9,578

L2949714.UP.FTS.B,

10.27%,

4/14/27

....

4,360

4,329

L2950563.UP.FTS.B,

10.38%,

4/14/27

....

8,677

8,656

L2949486.UP.FTS.B,

10.53%,

4/14/27

....

24,057

23,999

L2934626.UP.FTS.B,

10.81%,

4/14/27

....

6,717

6,680

FW2951659.UP.FTS.B,

10.85%,

4/14/27

..

8,271

8,226

L2948956.UP.FTS.B,

10.94%,

4/14/27

....

25,680

25,541

L2951595.UP.FTS.B,

10.95%,

4/14/27

....

6,156

6,122

L2950964.UP.FTS.B,

11.19%,

4/14/27

....

9,611

9,559

L2950306.UP.FTS.B,

11.59%,

4/14/27

....

24,076

23,971

L2928558.UP.FTS.B,

11.88%,

4/14/27

....

10,301

10,246

FW2950525.UP.FTS.B,

11.91%,

4/14/27

..

48,153

47,944

L2950021.UP.FTS.B,

11.97%,

4/14/27

....

9,628

9,577

L2944042.UP.FTS.B,

12.19%,

4/14/27

....

17,719

17,643

L2942764.UP.FTS.B,

12.22%,

4/14/27

....

13,001

12,932

L2950992.UP.FTS.B,

12.3%,

4/14/27

....

12,144

12,106

L2950027.UP.FTS.B,

12.33%,

4/14/27

....

41,415

41,197

L2950333.UP.FTS.B,

12.69%,

4/14/27

....

3,854

3,837

FW2951712.UP.FTS.B,

12.87%,

4/14/27

..

5,861

5,825

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L2951152.UP.FTS.B,

13.05%,

4/14/27

....

$

24,095

$

23,970

FW2948780.UP.FTS.B,

13.13%,

4/14/27

..

14,458

14,383

L2949635.UP.FTS.B,

13.18%,

4/14/27

....

3,759

3,740

L2948733.UP.FTS.B,

13.2%,

4/14/27

....

6,748

6,713

FW2951429.UP.FTS.B,

13.47%,

4/14/27

..

3,375

3,357

FW2949810.UP.FTS.B,

13.53%,

4/14/27

..

12,246

12,183

L2950093.UP.FTS.B,

13.53%,

4/14/27

....

1,929

1,919

FW2949125.UP.FTS.B,

13.6%,

4/14/27

...

4,147

4,125

L2951842.UP.FTS.B,

13.62%,

4/14/27

....

43,106

42,885

L2950742.UP.FTS.B,

13.63%,

4/14/27

....

9,644

9,594

L2949941.UP.FTS.B,

13.81%,

4/14/27

....

2,894

2,879

L2951001.UP.FTS.B,

14.01%,

4/14/27

....

8,155

8,112

FW2951854.UP.FTS.B,

14.02%,

4/14/27

..

18,330

18,236

L2950227.UP.FTS.B,

14.3%,

4/14/27

....

8,202

8,161

L2949763.UP.FTS.B,

14.31%,

4/14/27

....

6,264

6,232

FW2951175.UP.FTS.B,

14.6%,

4/14/27

...

2,124

2,113

L2949275.UP.FTS.B,

14.68%,

4/14/27

....

3,589

3,569

FW2949070.UP.FTS.B,

14.69%,

4/14/27

..

25,834

25,700

L2949907.UP.FTS.B,

14.84%,

4/14/27

....

3,669

3,650

FW2949368.UP.FTS.B,

15%,

4/14/27

....

2,704

2,681

L2949507.UP.FTS.B,

15.04%,

4/14/27

....

10,622

10,569

L2951597.UP.FTS.B,

15.07%,

4/14/27

....

20,569

20,466

L2948932.UP.FTS.B,

15.2%,

4/14/27

....

1,449

1,441

FW2949221.UP.FTS.B,

15.23%,

4/14/27

..

9,816

9,280

L2951339.UP.FTS.B,

15.29%,

4/14/27

....

16,613

16,530

FW2950466.UP.FTS.B,

15.31%,

4/14/27

..

1,642

1,634

L2951714.UP.FTS.B,

15.35%,

4/14/27

....

13,426

13,360

L2950927.UP.FTS.B,

15.36%,

4/14/27

....

3,671

3,652

FW2950600.UP.FTS.B,

15.45%,

4/14/27

..

2,222

2,211

L2949017.UP.FTS.B,

15.76%,

4/14/27

....

2,319

2,310

L2950524.UP.FTS.B,

15.81%,

4/14/27

....

3,575

3,546

FW2949910.UP.FTS.B,

15.84%,

4/14/27

..

9,536

9,457

L2950042.UP.FTS.B,

16.06%,

4/14/27

....

1,643

1,630

L2949733.UP.FTS.B,

16.07%,

4/14/27

....

3,087

3,072

L2950095.UP.FTS.B,

16.16%,

4/14/27

....

19,333

19,238

FW2946278.UP.FTS.B,

16.33%,

4/14/27

..

13,458

13,346

FW2951296.UP.FTS.B,

16.35%,

4/14/27

..

10,396

10,358

L2949405.UP.FTS.B,

16.41%,

4/14/27

....

19,337

19,243

L2949640.UP.FTS.B,

16.6%,

4/14/27

....

3,875

3,850

L2949916.UP.FTS.B,

16.64%,

4/14/27

....

24,176

24,060

L2951791.UP.FTS.B,

16.65%,

4/14/27

....

8,317

8,277

L2948755.UP.FTS.B,

16.72%,

4/14/27

....

8,414

8,346

FW2949098.UP.FTS.B,

16.95%,

4/14/27

..

4,837

4,813

FW2950896.UP.FTS.B,

16.97%,

4/14/27

..

9,673

9,627

L2950072.UP.FTS.B,

17.03%,

4/14/27

....

4,837

4,798

FW2951535.UP.FTS.B,

17.04%,

4/14/27

..

19,542

19,385

FW2950139.UP.FTS.B,

17.09%,

4/14/27

..

9,626

9,579

L2951449.UP.FTS.B,

17.19%,

4/14/27

....

28,648

28,505

FW2948748.UP.FTS.B,

17.23%,

4/14/27

..

4,838

4,799

L2948803.UP.FTS.B,

17.33%,

4/14/27

....

4,232

4,197

L2949286.UP.FTS.B,

17.4%,

4/14/27

....

10,334

10,250

L2949925.UP.FTS.B,

17.43%,

4/14/27

....

9,677

9,600

L2951584.UP.FTS.B,

17.47%,

4/14/27

....

7,742

7,680

L2950883.UP.FTS.B,

17.71%,

4/14/27

....

14,528

14,474

L2951624.UP.FTS.B,

17.77%,

4/14/27

....

20,813

20,647

FW2949561.UP.FTS.B,

17.84%,

4/14/27

..

20,330

20,123

FW2950962.UP.FTS.B,

17.87%,

4/14/27

..

6,293

6,243

L2951172.UP.FTS.B,

17.98%,

4/14/27

....

11,618

11,501

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

137

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2951603.UP.FTS.B,

18.15%,

4/14/27

....

$

37,315

$

36,994

L2950543.UP.FTS.B,

18.25%,

4/14/27

....

5,133

5,109

FW2950750.UP.FTS.B,

18.33%,

4/14/27

..

31,573

31,323

L2950603.UP.FTS.B,

18.38%,

4/14/27

....

20,630

20,467

L2950280.UP.FTS.B,

18.73%,

4/14/27

....

4,240

4,205

FW2950372.UP.FTS.B,

18.88%,

4/14/27

..

8,818

8,748

FW2951515.UP.FTS.B,

19.12%,

4/14/27

..

15,894

15,770

L2950089.UP.FTS.B,

19.5%,

4/14/27

....

11,343

11,229

L2949923.UP.FTS.B,

19.64%,

4/14/27

....

970

963

L2948840.UP.FTS.B,

19.72%,

4/14/27

....

14,488

14,340

L2951216.UP.FTS.B,

19.73%,

4/14/27

....

2,230

2,208

L2948841.UP.FTS.B,

20.18%,

4/14/27

....

3,201

3,169

L2950334.UP.FTS.B,

20.22%,

4/14/27

....

4,254

4,221

L2949824.UP.FTS.B,

20.3%,

4/14/27

....

2,134

2,118

L2947365.UP.FTS.B,

20.51%,

4/14/27

....

19,018

18,871

L2951305.UP.FTS.B,

20.52%,

4/14/27

....

3,590

3,555

L2950858.UP.FTS.B,

20.56%,

4/14/27

....

4,840

4,818

L2951820.UP.FTS.B,

20.59%,

4/14/27

....

31,246

31,005

L2950057.UP.FTS.B,

20.64%,

4/14/27

....

24,260

24,019

FW2949403.UP.FTS.B,

20.67%,

4/14/27

..

6,793

6,726

L2948718.UP.FTS.B,

20.71%,

4/14/27

....

8,249

8,192

FW2950639.UP.FTS.B,

20.74%,

4/14/27

..

2,135

2,119

L2951306.UP.FTS.B,

20.78%,

4/14/27

....

11,646

11,557

L2949198.UP.FTS.B,

20.86%,

4/14/27

....

6,406

6,343

L2949533.UP.FTS.B,

20.93%,

4/14/27

....

1,648

1,631

FW2949268.UP.FTS.B,

20.97%,

4/14/27

..

4,271

4,229

FW2951370.UP.FTS.B,

20.97%,

4/14/27

..

9,690

9,594

L2949973.UP.FTS.B,

20.99%,

4/14/27

....

5,824

5,767

FW2949197.UP.FTS.B,

21%,

4/14/27

....

2,054

2,036

L2951029.UP.FTS.B,

21.05%,

4/14/27

....

21,162

20,953

L2951142.UP.FTS.B,

21.23%,

4/14/27

....

7,316

7,241

FW2950781.UP.FTS.B,

21.26%,

4/14/27

..

10,551

10,488

L2950447.UP.FTS.B,

21.39%,

4/14/27

....

12,526

12,403

L2949588.UP.FTS.B,

21.43%,

4/14/27

....

1,007

998

FW2948170.UP.FTS.B,

21.44%,

4/14/27

..

8,320

8,237

FW2949632.UP.FTS.B,

21.47%,

4/14/27

..

1,942

1,923

L2951654.UP.FTS.B,

21.51%,

4/14/27

....

15,926

15,769

FW2950815.UP.FTS.B,

21.64%,

4/14/27

..

1,654

1,644

L2948968.UP.FTS.B,

21.84%,

4/14/27

....

19,427

19,280

L2948936.UP.FTS.B,

21.98%,

4/14/27

....

5,343

5,291

L2949488.UP.FTS.B,

22.01%,

4/14/27

....

3,485

3,449

L2949402.UP.FTS.B,

22.02%,

4/14/27

....

10,494

10,428

L2950098.UP.FTS.B,

22.15%,

4/14/27

....

3,886

3,848

L2950367.UP.FTS.B,

22.21%,

4/14/27

....

10,591

10,511

L2951265.UP.FTS.B,

22.27%,

4/14/27

....

18,851

18,708

FW2951375.UP.FTS.B,

22.32%,

4/14/27

..

3,207

3,185

L2951308.UP.FTS.B,

22.4%,

4/14/27

....

1,069

1,059

FW2949464.UP.FTS.B,

22.55%,

4/14/27

..

3,207

3,186

L2949702.UP.FTS.B,

22.62%,

4/14/27

....

12,052

11,935

L2951399.UP.FTS.B,

22.65%,

4/14/27

....

10,595

10,492

L2950443.UP.FTS.B,

22.7%,

4/14/27

....

971

965

L2951415.UP.FTS.B,

22.76%,

4/14/27

....

29,162

28,966

FW2950348.UP.FTS.B,

22.92%,

4/14/27

..

16,664

16,536

FW2948734.UP.FTS.B,

22.93%,

4/14/27

..

9,721

9,648

L2949419.UP.FTS.B,

23.06%,

4/14/27

....

2,639

2,623

FW2950859.UP.FTS.B,

23.11%,

4/14/27

..

2,626

2,610

L2948750.UP.FTS.B,

23.24%,

4/14/27

....

942

934

FW2951662.UP.FTS.B,

23.32%,

4/14/27

..

6,807

6,762

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L2949989.UP.FTS.B,

23.36%,

4/14/27

....

$

2,914

$

2,885

FW2946360.UP.FTS.B,

23.4%,

4/14/27

...

7,294

7,246

L2951812.UP.FTS.B,

23.47%,

4/14/27

....

2,723

2,705

FW2950779.UP.FTS.B,

23.54%,

4/14/27

..

3,210

3,188

L2950342.UP.FTS.B,

23.71%,

4/14/27

....

10,779

10,230

L2951427.UP.FTS.B,

23.72%,

4/14/27

....

6,420

6,378

FW2950826.UP.FTS.B,

23.81%,

4/14/27

..

21,208

21,068

FW2951000.UP.FTS.B,

23.87%,

4/14/27

..

26,463

26,208

FW2951418.UP.FTS.B,

23.92%,

4/14/27

..

8,951

8,885

L2950202.UP.FTS.B,

24.01%,

4/14/27

....

21,017

20,931

L2950839.UP.FTS.B,

24.02%,

4/14/27

....

24,325

24,146

L2942155.UP.FTS.B,

24.11%,

4/14/27

....

3,340

3,325

L2942546.UP.FTS.B,

24.28%,

4/14/27

....

29,196

29,004

L2948838.UP.FTS.B,

24.37%,

4/14/27

....

4,127

3,926

FW2950242.UP.FTS.B,

24.53%,

4/14/27

..

2,726

2,708

FW2950500.UP.FTS.B,

24.57%,

4/14/27

..

6,814

6,769

L2948992.UP.FTS.B,

24.59%,

4/14/27

....

29,208

29,017

L2950819.UP.FTS.B,

24.67%,

4/14/27

....

3,408

3,388

FW2951123.UP.FTS.B,

24.74%,

4/14/27

..

19,471

19,344

L2949050.UP.FTS.B,

24.74%,

4/14/27

....

14,603

14,508

L2951612.UP.FTS.B,

24.75%,

4/14/27

....

1,071

1,064

L2950134.UP.FTS.B,

24.82%,

4/14/27

....

1,433

1,418

L2949079.UP.FTS.B,

24.97%,

4/14/27

....

12,172

12,056

FW2950489.UP.FTS.B,

25.02%,

4/14/27

..

21,422

21,283

L2950895.UP.FTS.B,

25.02%,

4/14/27

....

974

967

FW2950387.UP.FTS.B,

25.03%,

4/14/27

..

9,738

9,674

L2950602.UP.FTS.B,

25.04%,

4/14/27

....

1,655

1,645

L2949682.UP.FTS.B,

25.05%,

4/14/27

....

1,363

1,358

L2914578.UP.FTS.B,

25.07%,

4/14/27

....

1,517

1,505

L2943365.UP.FTS.B,

25.08%,

4/14/27

....

1,169

1,161

L2950811.UP.FTS.B,

25.09%,

4/14/27

....

1,071

1,064

L2951247.UP.FTS.B,

25.15%,

4/14/27

....

1,071

1,061

L2949762.UP.FTS.B,

25.18%,

4/14/27

....

1,161

1,148

FW2951030.UP.FTS.B,

25.2%,

4/14/27

...

3,701

3,677

L2950173.UP.FTS.B,

25.21%,

4/14/27

....

1,656

1,644

L2951862.UP.FTS.B,

25.21%,

4/14/27

....

1,640

1,628

L2942965.UP.FTS.B,

25.22%,

4/14/27

....

9,739

9,676

L2949738.UP.FTS.B,

25.23%,

4/14/27

....

1,948

1,935

L2951261.UP.FTS.B,

25.24%,

4/14/27

....

1,753

1,736

FW2949983.UP.FTS.B,

25.28%,

4/14/27

..

34,965

34,738

L2950570.UP.FTS.B,

25.3%,

4/14/27

....

3,736

3,545

L2948941.UP.FTS.B,

25.31%,

4/14/27

....

10,107

10,040

L2951439.UP.FTS.B,

25.31%,

4/14/27

....

2,630

2,613

L2948807.UP.FTS.B,

25.32%,

4/14/27

....

2,045

2,032

L2950538.UP.FTS.B,

25.32%,

4/14/27

....

1,753

1,742

L2951410.UP.FTS.B,

25.32%,

4/14/27

....

1,753

1,742

L2950105.UP.FTS.B,

25.33%,

4/14/27

....

1,656

1,645

L2951170.UP.FTS.B,

25.33%,

4/14/27

....

1,352

1,343

L2950899.UP.FTS.B,

25.34%,

4/14/27

....

4,522

4,291

L2948820.UP.FTS.B,

25.35%,

4/14/27

....

3,114

3,094

L2949673.UP.FTS.B,

25.36%,

4/14/27

....

12,662

12,580

L2950776.UP.FTS.B,

25.38%,

4/14/27

....

3,701

3,677

L2945700.UP.FTS.B,

25.39%,

4/14/27

....

6,136

6,097

L2949137.UP.FTS.B,

25.4%,

4/14/27

....

2,143

2,123

L2951160.UP.FTS.B,

25.41%,

4/14/27

....

2,545

2,527

L2951384.UP.FTS.B,

25.41%,

4/14/27

....

2,532

2,516

L2950090.UP.FTS.B,

25.42%,

4/14/27

....

1,461

1,447

L2951363.UP.FTS.B,

25.42%,

4/14/27

....

11,981

11,903

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

138

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2951501.UP.FTS.B,

25.44%,

4/14/27

....

$

1,753

$

1,742

L2950074.UP.FTS.B,

25.45%,

4/14/27

....

1,461

1,451

L2948963.UP.FTS.B,

25.46%,

4/14/27

....

30,876

30,583

L2950063.UP.FTS.B,

25.46%,

4/14/27

....

6,259

6,224

L2949492.UP.FTS.B,

25.47%,

4/14/27

....

4,481

4,452

L2951548.UP.FTS.B,

25.47%,

4/14/27

....

2,435

2,412

L2949815.UP.FTS.B,

25.48%,

4/14/27

....

11,202

11,129

L2950216.UP.FTS.B,

25.49%,

4/14/27

....

5,357

5,323

L2951145.UP.FTS.B,

25.5%,

4/14/27

.....

2,435

2,419

L2951869.UP.FTS.B,

25.5%,

4/14/27

....

6,881

6,827

L2949603.UP.FTS.B,

25.51%,

4/14/27

....

4,723

4,703

FW2950277.UP.FTS.B,

25.52%,

4/14/27

..

3,244

3,230

L2948978.UP.FTS.B,

25.52%,

4/14/27

....

4,458

1,262

L2950727.UP.FTS.B,

25.55%,

4/14/27

....

4,773

4,739

L2950310.UP.FTS.B,

25.62%,

4/14/27

....

3,421

3,389

FW2950451.UP.FTS.B,

25.69%,

4/14/27

..

2,728

2,710

FW2950512.UP.FTS.B,

25.72%,

4/14/27

..

15,491

15,391

L2949160.UP.FTS.B,

25.74%,

4/14/27

....

11,781

11,696

L2950664.UP.FTS.B,

25.75%,

4/14/27

....

4,482

4,449

L2948896.UP.FTS.B,

25.76%,

4/14/27

....

11,673

11,588

FW2950748.UP.FTS.B,

25.82%,

4/14/27

..

13,219

13,116

L2951153.UP.FTS.B,

25.85%,

4/14/27

....

2,930

2,913

L2949868.UP.FTS.B,

25.87%,

4/14/27

....

8,263

7,881

FW2950220.UP.FTS.B,

26.02%,

4/14/27

..

1,949

1,936

L2951255.UP.FTS.B,

26.02%,

4/14/27

....

8,088

8,036

L2949018.UP.FTS.B,

26.04%,

4/14/27

....

4,229

4,211

FW2951228.UP.FTS.B,

26.2%,

4/14/27

...

3,541

3,526

FW2944032.UP.FTS.B,

26.21%,

4/14/27

..

3,411

3,389

FW2950959.UP.FTS.B,

26.22%,

4/14/27

..

6,786

6,458

FW2949721.UP.FTS.B,

26.35%,

4/14/27

..

5,263

5,230

FW2949934.UP.FTS.B,

26.46%,

4/14/27

..

1,501

1,489

FW2948732.UP.FTS.B,

26.54%,

4/14/27

..

48,742

48,430

FW2950237.UP.FTS.B,

26.85%,

4/14/27

..

4,919

4,682

FW2951063.UP.FTS.B,

26.85%,

4/14/27

..

4,363

1,282

FW2948824.UP.FTS.B,

27.37%,

4/14/27

..

5,267

5,234

L2949711.UP.FTS.B,

27.49%,

4/14/27

....

2,439

2,423

FW2951725.UP.FTS.B,

27.54%,

4/14/27

..

3,902

3,878

FW2948773.UP.FTS.B,

27.56%,

4/14/27

..

4,487

4,458

FW2948716.UP.FTS.B,

27.71%,

4/14/27

..

8,781

8,726

FW2951423.UP.FTS.B,

27.85%,

4/14/27

..

4,463

4,433

FW2950071.UP.FTS.B,

28.18%,

4/14/27

..

4,777

4,740

FW2949765.UP.FTS.B,

28.19%,

4/14/27

..

9,760

9,699

FW2948942.UP.FTS.B,

28.29%,

4/14/27

..

2,440

2,425

FW2949577.UP.FTS.B,

28.33%,

4/14/27

..

4,726

4,706

FW2950794.UP.FTS.B,

28.42%,

4/14/27

..

1,659

1,649

FW2949299.UP.FTS.B,

28.46%,

4/14/27

..

4,100

4,074

FW2948843.UP.FTS.B,

28.64%,

4/14/27

..

9,763

9,702

FW2951454.UP.FTS.B,

28.72%,

4/14/27

..

24,633

24,536

FW2949602.UP.FTS.B,

28.78%,

4/14/27

..

7,187

7,133

FW2950395.UP.FTS.B,

28.88%,

4/14/27

..

18,064

17,952

FW2950464.UP.FTS.B,

29.27%,

4/14/27

..

3,896

3,871

FW2948980.UP.FTS.B,

29.3%,

4/14/27

...

1,660

1,650

FW2950967.UP.FTS.B,

29.33%,

4/14/27

..

10,517

10,019

FW2950133.UP.FTS.B,

29.38%,

4/14/27

..

7,323

7,278

FW2948974.UP.FTS.B,

29.39%,

4/14/27

..

8,748

8,691

FW2949387.UP.FTS.B,

29.57%,

4/14/27

..

1,084

1,079

FW2948847.UP.FTS.B,

29.81%,

4/14/27

..

975

969

FW2949532.UP.FTS.B,

29.81%,

4/14/27

..

977

968

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW2950715.UP.FTS.B,

29.89%,

4/14/27

..

$

1,084

$

1,080

FW2950554.UP.FTS.B,

30.11%,

4/14/27

..

3,714

3,691

FW2949467.UP.FTS.B,

30.27%,

4/14/27

..

3,421

3,400

FW2950428.UP.FTS.B,

30.3%,

4/14/27

...

4,691

4,663

FW2950412.UP.FTS.B,

30.37%,

4/14/27

..

1,224

1,214

FW2951435.UP.FTS.B,

30.37%,

4/14/27

..

1,941

1,928

FW2950357.UP.FTS.B,

30.48%,

4/14/27

..

10,765

10,708

FW2951084.UP.FTS.B,

30.63%,

4/14/27

..

14,373

14,287

FW2951407.UP.FTS.B,

30.65%,

4/14/27

..

1,932

1,919

FW2950179.UP.FTS.B,

30.71%,

4/14/27

..

2,708

2,689

FW2949817.UP.FTS.B,

30.78%,

4/14/27

..

978

972

FW2950165.UP.FTS.B,

30.83%,

4/14/27

..

1,075

1,069

FW2951200.UP.FTS.B,

30.85%,

4/14/27

..

1,075

1,069

FW2949396.UP.FTS.B,

30.89%,

4/14/27

..

4,315

4,280

FW2949044.UP.FTS.B,

30.94%,

4/14/27

..

4,449

4,418

FW2932125.UP.FTS.B,

30.95%,

4/14/27

..

8,911

8,881

FW2950648.UP.FTS.B,

30.95%,

4/14/27

..

1,173

1,166

FW2949727.UP.FTS.B,

30.99%,

4/14/27

..

1,956

1,944

FW2950633.UP.FTS.B,

31.02%,

4/14/27

..

12,814

12,766

FW2950635.UP.FTS.B,

31.02%,

4/14/27

..

3,911

3,888

FW2950998.UP.FTS.B,

31.04%,

4/14/27

..

6,608

6,565

FW2950575.UP.FTS.B,

31.06%,

4/14/27

..

2,640

2,624

FW2950882.UP.FTS.B,

31.06%,

4/14/27

..

1,271

1,264

FW2950988.UP.FTS.B,

31.06%,

4/14/27

..

1,406

1,395

FW2948863.UP.FTS.B,

31.07%,

4/14/27

..

1,467

1,458

FW2950720.UP.FTS.B,

31.08%,

4/14/27

..

1,479

1,473

FW2948818.UP.FTS.B,

31.09%,

4/14/27

..

3,814

3,791

FW2949627.UP.FTS.B,

31.09%,

4/14/27

..

1,467

1,458

FW2951097.UP.FTS.B,

31.1%,

4/14/27

...

1,565

1,555

FW2951217.UP.FTS.B,

31.11%,

4/14/27

..

1,956

1,944

FW2951059.UP.FTS.B,

31.12%,

4/14/27

..

18,697

18,567

FW2951198.UP.FTS.B,

31.12%,

4/14/27

..

4,596

4,569

FW2949164.UP.FTS.B,

31.13%,

4/14/27

..

6,551

1,931

FW2950728.UP.FTS.B,

31.15%,

4/14/27

..

1,644

1,633

FW2949803.UP.FTS.B,

31.16%,

4/14/27

..

2,249

2,236

FW2950983.UP.FTS.B,

31.18%,

4/14/27

..

2,249

2,236

FW2951327.UP.FTS.B,

31.18%,

4/14/27

..

5,233

5,192

FW2950561.UP.FTS.B,

31.2%,

4/14/27

...

1,467

1,458

FW2950061.UP.FTS.B,

31.21%,

4/14/27

..

1,565

1,555

FW2950478.UP.FTS.B,

31.23%,

4/14/27

..

2,836

2,819

FW2950268.UP.FTS.B,

31.44%,

4/14/27

..

2,152

2,141

FW2949585.UP.FTS.B,

31.61%,

4/14/27

..

6,590

6,546

FW2950981.UP.FTS.B,

31.76%,

4/14/27

..

4,696

4,668

FW2949894.UP.FTS.B,

31.82%,

4/14/27

..

3,620

3,598

FW2949051.UP.FTS.B,

32.15%,

4/14/27

..

4,639

4,623

FW2950185.UP.FTS.B,

32.24%,

4/14/27

..

5,681

5,651

FW2950232.UP.FTS.B,

32.3%,

4/14/27

...

29,065

28,856

FW2949959.UP.FTS.B,

33.64%,

4/14/27

..

2,742

2,727

FW2950926.UP.FTS.B,

33.78%,

4/14/27

..

8,252

8,199

FW2951639.UP.FTS.B,

34.55%,

4/14/27

..

5,845

5,809

L2047779.UP.FTS.B,

8.03%,

4/15/27

....

18,389

18,293

FW2046887.UP.FTS.B,

17.65%,

4/15/27

..

9,484

9,384

L2047848.UP.FTS.B,

20.77%,

4/15/27

....

30,702

30,250

L2048530.UP.FTS.B,

24.05%,

4/15/27

....

26,956

26,711

L2047847.UP.FTS.B,

25.96%,

4/15/27

....

6,752

6,693

L2095546.UP.FTS.B,

17.27%,

4/22/27

....

2,857

2,832

FW2094924.UP.FTS.B,

20.42%,

4/22/27

..

2,878

2,841

L2096815.UP.FTS.B,

21.75%,

4/22/27

....

33,491

31,828

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

139

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

FW2096628.UP.FTS.B,

22.48%,

4/22/27

..

$

3,045

$

3,010

FW2095121.UP.FTS.B,

24.32%,

4/22/27

..

6,133

6,092

L2096715.UP.FTS.B,

25.36%,

4/22/27

....

30,012

28,515

FW2094908.UP.FTS.B,

29.15%,

4/22/27

..

47,977

47,675

FW2095960.UP.FTS.B,

29.98%,

4/22/27

..

17,910

5,292

L2295478.UP.FTS.B,

26.3%,

5/21/27

....

4,079

3,906

FW2296545.UP.FTS.B,

28.87%,

5/21/27

..

5,756

5,713

FW2294527.UP.FTS.B,

29.54%,

5/21/27

..

3,287

3,119

L2299498.UP.FTS.B,

12.01%,

5/22/27

....

6,740

6,701

L2298303.UP.FTS.B,

22.22%,

5/22/27

....

5,654

5,338

L2299176.UP.FTS.B,

25.35%,

5/22/27

....

17,033

4,872

FW2299807.UP.FTS.B,

27.27%,

5/22/27

..

48,280

14,371

FW2297380.UP.FTS.B,

30.57%,

5/22/27

..

5,918

5,893

FW2297065.UP.FTS.B,

30.7%,

5/22/27

...

9,769

1,496

FW2298699.UP.FTS.B,

30.83%,

5/22/27

..

6,057

5,764

FW2298675.UP.FTS.B,

31.12%,

5/22/27

..

6,887

6,661

FW2298853.UP.FTS.B,

33.16%,

5/22/27

..

4,102

4,081

FW2428153.UP.FTS.B,

11.37%,

6/13/27

..

9,498

9,444

L2426893.UP.FTS.B,

11.99%,

6/13/27

....

1,413

1,404

L2428445.UP.FTS.B,

14.58%,

6/13/27

....

6,542

6,507

L2422890.UP.FTS.B,

23.18%,

6/13/27

....

3,103

3,079

FW2427001.UP.FTS.B,

25.82%,

6/13/27

..

9,558

9,481

FW2425640.UP.FTS.B,

29.76%,

6/13/27

..

20,367

20,209

FW2422585.UP.FTS.B,

30.74%,

6/13/27

..

3,328

3,309

FW2426089.UP.FTS.B,

30.97%,

6/13/27

..

5,904

5,853

FW2424580.UP.FTS.B,

31.2%,

6/13/27

...

18,676

18,624

L2434872.UP.FTS.B,

5.3%,

6/14/27

.....

4,526

4,512

L2432731.UP.FTS.B,

13.82%,

6/14/27

....

20,085

20,021

L2432687.UP.FTS.B,

18.15%,

6/14/27

....

963

953

FW2428982.UP.FTS.B,

24.9%,

6/14/27

...

26,108

25,910

FW2434573.UP.FTS.B,

26.92%,

6/14/27

..

8,677

8,614

FW2432234.UP.FTS.B,

27.65%,

6/14/27

..

6,879

6,830

FW2432748.UP.FTS.B,

28.28%,

6/14/27

..

2,900

2,877

FW2429109.UP.FTS.B,

31.06%,

6/14/27

..

2,112

2,093

FW2412469.UP.FTS.B,

31.07%,

6/14/27

..

2,132

2,117

FW2429288.UP.FTS.B,

33.13%,

6/14/27

..

1,262

1,252

L2438839.UP.FTS.B,

7.09%,

6/18/27

....

18,867

18,842

FW2434176.UP.FTS.B,

21.73%,

6/18/27

..

18,960

18,821

L2437879.UP.FTS.B,

24.72%,

6/18/27

....

1,226

1,215

FW2438585.UP.FTS.B,

30.32%,

6/18/27

..

9,683

9,599

L2607609.UP.FTS.B,

15.09%,

7/10/27

....

3,204

3,197

FW2614159.UP.FTS.B,

29.19%,

7/11/27

..

2,476

2,454

FW2610193.UP.FTS.B,

30.94%,

7/11/27

..

9,413

9,325

FW2613463.UP.FTS.B,

31.43%,

7/11/27

..

8,463

8,392

L2616398.UP.FTS.B,

25.45%,

7/14/27

....

2,227

2,204

FW2616467.UP.FTS.B,

26.53%,

7/14/27

..

14,600

14,462

FW2949083.UP.FTS.B,

24.84%,

9/14/27

..

5,318

5,292

L2949947.UP.FTS.B,

25.29%,

9/14/27

....

2,038

2,023

L2094100.UP.FTS.B,

16.83%,

9/22/27

....

14,501

4,275

L2293030.UP.FTS.B,

8.8%,

10/21/27

....

2,797

2,786

L2298508.UP.FTS.B,

19.73%,

10/22/27

...

4,764

4,654

L2297484.UP.FTS.B,

25.49%,

10/22/27

...

21,851

21,713

FW2435246.UP.FTS.B,

14.6%,

11/18/27

..

2,148

2,179

L2613209.UP.FTS.B,

14.38%,

12/11/27

...

7,117

7,242

L1718966.UP.FTS.B,

18.89%,

9/15/28

....

9,371

9,328

L1718819.UP.FTS.B,

23.98%,

9/15/28

....

2,844

2,824

L1718702.UP.FTS.B,

26.02%,

9/15/28

....

4,759

4,736

L1886617.UP.FTS.B,

19.5%,

10/20/28

....

9,453

9,397

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L1887293.UP.FTS.B,

25.85%,

10/20/28

...

$

10,337

$

10,279

L2608032.UP.FTS.B,

17.27%,

2/10/29

....

4,158

4,138

L2607986.UP.FTS.B,

25.66%,

2/10/29

....

19,514

19,327

L2601951.UP.FTS.B,

26.3%,

2/10/29

....

5,857

5,806

L2605247.UP.FTS.B,

26.74%,

2/10/29

....

9,670

9,586

L2607288.UP.FTS.B,

27.03%,

2/10/29

....

11,820

11,729

L2605139.UP.FTS.B,

28.33%,

2/10/29

....

2,456

2,435

L2592196.UP.FTS.B,

20.47%,

2/11/29

....

3,339

844

L2611806.UP.FTS.B,

26.35%,

2/11/29

....

3,217

3,189

23,266,193

Total

Marketplace

Loans

(Cost

$79,773,400)

....

$75,607,191

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited),

July

31,

2022

Franklin

Low

Duration

Total

Return

Fund

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

140

At

July

31,

2022,

the

Fund

had

the

following futures

contracts

outstanding.

At

July

31,

2022,

the

Fund

had

the

following

forward

exchange

contracts

outstanding.

At

July

31,

2022,

the

Fund

had

the

following credit

default

swap

contracts outstanding.

Futures

Contracts

Description

Type

Number

of

Contracts

Notional

Amount

*

Expiration

Date

Value/

Unrealized

Appreciation

(Depreciation)

Interest

rate

contracts

U.S.

Treasury

10

Year

Notes

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

Short

1,023

$

123,926,859

9/21/22

$

(749,718)

U.S.

Treasury

2

Year

Notes

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

Long

3,970

835,529,924

9/30/22

(4,101,232)

Total

Futures

Contracts

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

$(4,850,950)

*

As

of

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

Brazilian

Real

......

JPHQ

Sell

9,000,000

1,722,027

8/08/22

$

—

$

(14,788)

Euro

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

JPHQ

Sell

17,640,000

19,457,361

9/16/22

1,368,909

—

Euro

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

JPHQ

Sell

58,916,252

63,733,069

12/06/22

2,929,084

—

Japanese

Yen

......

JPHQ

Sell

3,730,702,212

28,331,578

7/03/23

—

(619,350)

Total

Forward

Exchange

Contracts

...................................................

$4,297,993

$(634,138)

Net

unrealized

appreciation

(depreciation)

............................................

$3,663,855

*

In

U.S.

dollars

unless

otherwise

indicated.

a

May

be

comprised

of

multiple

contracts

with

the

same

counterparty,

currency

and

settlement

date.

Credit

Default

Swap

Contracts

Description

Periodic

Payment

Rate

Received

(Paid)

Payment

Frequency

Counter-

party

Maturity

Date

Notional

Amount

(a)

Value

Unamortized

Upfront

Payments

(Receipts)

Unrealized

Appreciation

(Depreciation)

Rating

(b)

Centrally

Cleared

Swap

Contracts

Contracts

to

Buy

Protection

(c)

Traded

Index

CDX.NA.EM.37

.

(1.00)%

Quarterly

6/20/27

13,675,000

$

1,273,530

$

1,268,335

$

5,195

CDX.NA.HY.38

.

(5.00)%

Quarterly

6/20/27

6,650,000

(111,375)

201,037

(312,412)

Total

Centrally

Cleared

Swap

Contracts

.....................................

$1,162,155

$1,469,372

$(307,217)

OTC

Swap

Contracts

Contracts

to

Buy

Protection

(c)

Single

Name

Avon

Products,

Inc.

.......

(5.00)%

Quarterly

CITI

3/20/23

5,835,000

(186,766)

(107,513)

(79,253)

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

141

Credit

Default

Swap

Contracts

(continued)

Description

Periodic

Payment

Rate

Received

(Paid)

Payment

Frequency

Counter-

party

Maturity

Date

Notional

Amount

(a)

Value

Unamortized

Upfront

Payments

(Receipts)

Unrealized

Appreciation

(Depreciation)

Rating

(b)

OTC

Swap

Contracts

(continued)

Contracts

to

Sell

Protection

(c)(d)

Single

Name

Air

France-KLM

.

5.00%

Quarterly

BOFA

6/20/26

600,000

EUR

$

(45,509)

$

9,528

$

(55,037)

NR

Air

France-KLM

.

5.00%

Quarterly

JPHQ

6/20/26

1,420,000

EUR

(107,706)

19,694

(127,400)

NR

American

Airlines

Group,

Inc.

..

5.00%

Quarterly

GSCO

12/20/22

4,400,000

8,161

(16,565)

24,726

NR

Carnival

Corp.

..

1.00%

Quarterly

CITI

6/20/27

5,500,000

(1,674,333)

(974,023)

(700,310)

B-

Mexico

Government

Bond

......

1.00%

Quarterly

GSCO

6/20/26

7,000,000

(75,040)

15,814

(90,854)

BBB

Nabors

Industries,

Inc.

.......

1.00%

Quarterly

CITI

12/20/23

6,200,000

(306,397)

(257,286)

(49,111)

CCC

Traded

Index

(e)

BNP

Paribas

Bespoke

Haverhill

Index,

Mezzanine

Tranche

5-10%

4.10%

Quarterly

BNDP

12/20/23

2,300,000

EUR

(165,263)

—

(165,263)

Non-

Investment

Grade

CDX.NA.HY.31

.

5.00%

Quarterly

CITI

12/20/23

20,400,000

182,592

(805,974)

988,566

(e)

Citibank

Bespoke

Kenai

Index,

Equity

Tranche

0-5%

—%

Quarterly

CITI

12/20/23

13,550,000

(6,995,339)

(2,881,543)

(4,113,796)

Non-

Investment

Grade

(e)

Citibank

Bespoke

Kona

Index,

Equity

Tranche

0-5%

—%

Quarterly

CITI

12/20/22

2,500,000

(379,825)

(133,488)

(246,337)

Non-

Investment

Grade

(e)

Citibank

Bespoke

Kona

Index,

Mezzanine

Tranche

5-10%

2.42%

Quarterly

CITI

12/20/22

5,600,000

(22,566)

—

(22,566)

Non-

Investment

Grade

(e)

Citibank

Bespoke

Palm

Beach

Index,

Mezzanine

Tranche

5-10%

1.97%

Quarterly

CITI

12/20/22

7,400,000

(16,786)

—

(16,786)

Non-

Investment

Grade

(e)

Citibank

Bespoke

Rotorua

Index,

Mezzanine

Tranche

5-10%

3.60%

Quarterly

CITI

12/20/23

5,000,000

(382,267)

—

(382,267)

Non-

Investment

Grade

MCDX.

NA.MAIN.31

.

1.00%

Quarterly

CITI

12/20/23

12,200,000

92,864

34,865

57,999

Investment

Grade

Total

OTC

Swap

Contracts

..............................................

$(10,074,180)

$(5,096,491)

$(4,977,689)

Total

Credit

Default

Swap

Contracts

....................................

$(8,912,025)

$

(3,627,119)

$(5,284,906)

(a)

In

U.S.

dollars

unless

otherwise

indicated.

For

contracts

to

sell

protection,

the

notional

amount

is

equal

to

the

maximum

potential

amount

of

the

future

payments

and

no

recourse

provisions

have

been

entered

into

in

association

with

the

contracts.

(b)

Based

on

Standard

and

Poor's

(S&P)

Rating

for

single

name

swaps

and

internal

ratings

for

index

swaps.

Internal

ratings

based

on

mapping

into

equivalent

ratings

from

external

vendors.

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Low

Duration

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

142

At

July

31,

2022,

the

Fund

had

the

following cross-currency

swap

contracts outstanding.

See

A

bbreviations

on

page

399

.

(c)

Performance

triggers

for

settlement

of

contract

include

default,

bankruptcy

or

restructuring

for

single

name

swaps,

and

failure

to

pay

or

bankruptcy

of

the

underlying

securities

for

traded

index

swaps.

(d)

The

fund

enters

contracts

to

sell

protection

to

create

a

long

credit

position.

(e)

Represents

a

custom

index

comprised

of

a

basket

of

underlying

instruments.

Cross-Currency

Swap

Contracts

Description

Payment

Frequency

Counter-

party

Maturity

Date

Notional

Amount

*

Value/

Unrealized

Appreciation

(Depreciation)

aA

aaa

aaa

aaa

OTC

Swap

Contracts

Receive

Floating

3-month

USD

LIBOR

+

0.849%

.....

Quarterly

3,472,000

USD

Pay

Fixed

0.75%

............................

Annual

DBAB

9/14/22

2,800,000

EUR

$

600,688

Total

Cross

Currency

Swap

Contracts

...........................................................

$600,688

*

In

U.S.

dollars

unless

otherwise

indicated.

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited),

July

31,

2022

Franklin

Managed

Income

Fund

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

143

a

a

Country

Shares

a

Value

a

a

a

a

a

a

Common

Stocks

35.4%

Aerospace

&

Defense

2.8%

Lockheed

Martin

Corp.

.................................

United

States

75,000

$

31,035,750

Northrop

Grumman

Corp.

...............................

United

States

42,900

20,544,810

Raytheon

Technologies

Corp.

............................

United

States

600,000

55,926,000

107,506,560

Air

Freight

&

Logistics

0.9%

United

Parcel

Service,

Inc.,

B

............................

United

States

175,000

34,105,750

Banks

4.5%

Bank

of

America

Corp.

.................................

United

States

2,000,000

67,620,000

Citigroup,

Inc.

........................................

United

States

350,000

18,165,000

JPMorgan

Chase

&

Co.

.................................

United

States

350,000

40,376,000

Truist

Financial

Corp.

..................................

United

States

500,000

25,235,000

US

Bancorp

.........................................

United

States

500,000

23,600,000

174,996,000

Beverages

1.9%

Coca-Cola

Co.

(The)

...................................

United

States

500,000

32,085,000

PepsiCo,

Inc.

........................................

United

States

250,000

43,740,000

75,825,000

Biotechnology

0.2%

AbbVie,

Inc.

.........................................

United

States

65,000

9,328,150

Capital

Markets

1.0%

Morgan

Stanley

.......................................

United

States

450,000

37,935,000

Chemicals

1.4%

BASF

SE

...........................................

Germany

750,000

33,425,551

Linde

plc

............................................

United

Kingdom

75,000

22,650,000

56,075,551

Diversified

Telecommunication

Services

2.0%

BCE,

Inc.

...........................................

Canada

450,000

22,737,212

Deutsche

Telekom

AG

..................................

Germany

1,200,000

22,799,904

Verizon

Communications,

Inc.

............................

United

States

700,000

32,333,000

77,870,116

Electric

Utilities

1.7%

American

Electric

Power

Co.,

Inc.

.........................

United

States

160,000

15,769,600

Duke

Energy

Corp.

....................................

United

States

250,000

27,482,500

Edison

International

...................................

United

States

350,000

23,719,500

66,971,600

Health

Care

Equipment

&

Supplies

0.5%

Medtronic

plc

........................................

United

States

200,000

18,504,000

Health

Care

Providers

&

Services

1.1%

Quest

Diagnostics,

Inc.

.................................

United

States

300,000

40,971,000

Household

Products

0.5%

Procter

&

Gamble

Co.

(The)

.............................

United

States

150,000

20,836,500

Industrial

Conglomerates

1.5%

Honeywell

International,

Inc.

.............................

United

States

300,000

57,738,000

Insurance

0.4%

Travelers

Cos.,

Inc.

(The)

...............................

United

States

100,000

15,870,000

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Managed

Income

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

144

a

a

Country

Shares

a

Value

a

a

a

a

a

a

Common

Stocks

(continued)

Metals

&

Mining

0.6%

Rio

Tinto

plc,

ADR

.....................................

Australia

400,000

$

24,412,000

Multiline

Retail

0.4%

Target

Corp.

.........................................

United

States

100,000

16,338,000

Multi-Utilities

2.2%

Dominion

Energy,

Inc.

..................................

United

States

500,000

40,990,000

DTE

Energy

Co.

......................................

United

States

200,000

26,060,000

Sempra

Energy

.......................................

United

States

125,000

20,725,000

87,775,000

Oil,

Gas

&

Consumable

Fuels

3.7%

Chevron

Corp.

.......................................

United

States

450,000

73,701,000

Exxon

Mobil

Corp.

.....................................

United

States

500,000

48,465,000

TotalEnergies

SE,

ADR

.................................

France

400,000

20,424,000

142,590,000

Pharmaceuticals

3.9%

AstraZeneca

plc,

ADR

..................................

United

Kingdom

550,000

36,426,500

Bristol-Myers

Squibb

Co.

................................

United

States

250,000

18,445,000

Johnson

&

Johnson

...................................

United

States

250,000

43,630,000

Merck

&

Co.,

Inc.

.....................................

United

States

275,000

24,568,500

Pfizer,

Inc.

...........................................

United

States

600,000

30,306,000

153,376,000

Road

&

Rail

0.6%

Union

Pacific

Corp.

....................................

United

States

100,000

22,730,000

Semiconductors

&

Semiconductor

Equipment

2.4%

Texas

Instruments,

Inc.

.................................

United

States

517,361

92,550,709

Specialty

Retail

1.2%

Home

Depot,

Inc.

(The)

.................................

United

States

150,000

45,141,000

Total

Common

Stocks

(Cost

$1,022,417,713)

....................................

1,379,445,936

Management

Investment

Companies

3.0%

Capital

Markets

3.0%

BlackRock

Credit

Allocation

Income

Trust

...................

United

States

250,000

2,917,500

a

Franklin

FTSE

Japan

ETF

...............................

United

States

700,000

17,367,000

a

Franklin

FTSE

United

Kingdom

ETF

.......................

United

States

1,250,000

28,900,000

a,b

Franklin

Liberty

Systematic

Style

Premia

ETF

................

United

States

1,175,000

25,015,750

a

Franklin

Liberty

U.S.

Low

Volatility

ETF

.....................

United

States

860,000

40,483,726

a

Western

Asset

Diversified

Income

Fund

.....................

United

States

250,000

3,570,000

118,253,976

Total

Management

Investment

Companies

(Cost

$117,184,924)

...................

118,253,976

Equity-Linked

Securities

9.9%

Automobiles

0.7%

c

Citigroup

Global

Markets

Holdings,

Inc.

into

Ford

Motor

Co.,

144A,

12.5%,

1/12/23

.....................................

United

States

1,755,000

27,203,069

Banks

0.7%

c

Citigroup

Global

Markets

Holdings,

Inc.

into

JPMorgan

Chase

&

Co.,

144A,

8%,

8/15/22

...................................

United

States

230,000

26,634,516

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Managed

Income

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

145

a

a

Country

Shares

a

Value

a

a

a

a

a

a

Equity-Linked

Securities

(continued)

Biotechnology

0.5%

c

BNP

Paribas

Issuance

BV

into

AbbVie,

Inc.,

144A,

8%,

2/23/23

...

United

States

145,000

$

20,498,949

Chemicals

0.7%

c

Credit

Suisse

AG

into

Air

Products

and

Chemicals,

Inc.,

144A,

8.5%,

5/15/23

...........................................

United

States

110,000

26,901,901

Communications

Equipment

0.5%

c

Barclays

Bank

plc

into

Cisco

Systems,

Inc.,

144A,

7.5%,

3/10/23

..

United

States

400,000

18,708,713

Entertainment

0.6%

c

Morgan

Stanley

Finance

II

Ltd.

into

Walt

Disney

Co.

(The),

144A,

8%,

2/23/23

........................................

United

States

190,600

21,156,255

Health

Care

Providers

&

Services

0.8%

c

Royal

Bank

of

Canada

into

CVS

Health

Corp.,

144A,

8%,

12/16/22

United

States

350,000

32,467,263

Internet

&

Direct

Marketing

Retail

1.2%

c

Credit

Suisse

AG

into

Amazon.com,

Inc.,

144A,

10%,

6/30/23

....

United

States

349,100

46,252,068

Media

0.5%

c,d

BNP

Paribas

Issuance

BV

into

Comcast

Corp.,

144A,

8.5%,

8/10/23

United

States

100,000

3,872,642

c

Societe

Generale

SA

into

Comcast

Corp.,

144A,

8%,

4/17/23

....

United

States

425,000

16,524,123

20,396,765

Oil,

Gas

&

Consumable

Fuels

0.9%

c

UBS

AG

into

Chevron

Corp.,

144A,

10%,

8/16/22

.............

United

States

310,000

33,847,910

Semiconductors

&

Semiconductor

Equipment

1.7%

c

Mizuho

Markets

Cayman

LP

into

Microchip

Technology,

Inc.,

144A,

10%,

6/26/23

.......................................

United

States

629,300

43,758,064

c

Royal

Bank

of

Canada

into

Analog

Devices,

Inc.,

144A,

10%,

5/19/23

United

States

145,000

23,859,202

67,617,266

Software

1.1%

c

Mizuho

Markets

Cayman

LP

into

Workday,

Inc.,

144A,

10%,

8/03/23

United

States

289,000

42,988,613

Total

Equity-Linked

Securities

(Cost

$406,171,265)

..............................

384,673,288

Convertible

Preferred

Stocks

8.0%

Capital

Markets

0.4%

KKR

Group

Co,

Inc.,

6%,

C

..............................

United

States

200,000

14,000,000

Electric

Utilities

3.5%

American

Electric

Power

Co.,

Inc.,

6.125%

..................

United

States

200,000

11,056,000

NextEra

Energy,

Inc.,

5.279%

............................

United

States

1,200,000

62,940,000

Southern

Co.

(The),

6.75%,

2019

.........................

United

States

1,150,000

64,584,000

138,580,000

Health

Care

Equipment

&

Supplies

0.7%

Boston

Scientific

Corp.,

5.5%,

A

..........................

United

States

250,000

27,205,000

Life

Sciences

Tools

&

Services

0.8%

Danaher

Corp.,

5%,

B

..................................

United

States

20,000

30,437,000

Machinery

0.7%

RBC

Bearings,

Inc.,

5%,

A

...............................

United

States

125,000

14,546,250

Stanley

Black

&

Decker,

Inc.,

5.25%

.......................

United

States

225,000

14,301,000

28,847,250

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Managed

Income

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

146

a

a

Country

Shares

a

Value

a

a

a

a

a

a

Convertible

Preferred

Stocks

(continued)

Multi-Utilities

1.0%

DTE

Energy

Co.,

6.25%

................................

United

States

750,000

$

38,722,500

Semiconductors

&

Semiconductor

Equipment

0.9%

Broadcom,

Inc.,

8%,

A

..................................

United

States

20,000

33,556,000

Total

Convertible

Preferred

Stocks

(Cost

$255,378,534)

..........................

311,347,750

Principal

Amount

*

Corporate

Bonds

34.7%

Aerospace

&

Defense

0.7%

Boeing

Co.

(The)

,

Senior

Bond,

3.2%,

3/01/29

............................

United

States

15,000,000

13,580,529

Senior

Note,

2.196%,

2/04/26

..........................

United

States

5,000,000

4,658,013

Huntington

Ingalls

Industries,

Inc.

,

Senior

Note

,

3.483

%

,

12/01/27

.

United

States

10,000,000

9,585,232

27,823,774

Auto

Components

0.4%

Goodyear

Tire

&

Rubber

Co.

(The)

,

b

Senior

Note,

5%,

7/15/29

.............................

United

States

10,000,000

9,143,500

Senior

Note,

5.25%,

7/15/31

...........................

United

States

7,500,000

6,532,687

15,676,187

Automobiles

0.3%

General

Motors

Co.

,

Senior

Note

,

5.4

%

,

10/02/23

.............

United

States

10,000,000

10,182,795

Banks

1.7%

Bank

of

America

Corp.

,

Senior

Bond,

3.419%

to

12/19/27,

FRN

thereafter,

12/20/28

...

United

States

15,000,000

14,361,439

Senior

Note,

3.55%

to

3/04/23,

FRN

thereafter,

3/05/24

.......

United

States

7,500,000

7,488,342

L,

Sub.

Bond,

4.183%,

11/25/27

........................

United

States

10,000,000

9,978,929

Barclays

plc

,

Senior

Bond

,

3.65

%

,

3/16/25

..................

United

Kingdom

15,000,000

14,771,010

Citigroup,

Inc.

,

Sub.

Bond

,

4.125

%

,

7/25/28

..................

United

States

20,000,000

19,921,501

66,521,221

Biotechnology

0.5%

c

Emergent

BioSolutions,

Inc.

,

Senior

Note

,

144A,

3.875

%

,

8/15/28

.

United

States

4,000,000

3,048,160

c

Grifols

Escrow

Issuer

SA

,

Senior

Note

,

144A,

4.75

%

,

10/15/28

...

Spain

20,000,000

17,754,000

20,802,160

Capital

Markets

1.3%

Goldman

Sachs

Group,

Inc.

(The)

,

Senior

Bond

,

3.5

%

,

11/16/26

..

United

States

15,000,000

14,695,700

Morgan

Stanley

,

Senior

Bond,

3.75%,

2/25/23

...........................

United

States

10,000,000

10,029,388

Sub.

Bond,

4.35%,

9/08/26

............................

United

States

15,000,000

15,132,219

Owl

Rock

Capital

Corp.

,

Senior

Note

,

3.4

%

,

7/15/26

...........

United

States

10,000,000

9,014,879

48,872,186

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Managed

Income

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

147

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Corporate

Bonds

(continued)

Chemicals

2.1%

Celanese

US

Holdings

LLC

,

Senior

Note

,

6.33

%

,

7/15/29

.......

United

States

20,000,000

$

20,603,121

CF

Industries,

Inc.

,

Senior

Bond

,

5.15

%

,

3/15/34

..............

United

States

12,500,000

12,548,580

DuPont

de

Nemours,

Inc.

,

Senior

Note

,

4.493

%

,

11/15/25

.......

United

States

20,000,000

20,516,465

Huntsman

International

LLC

,

Senior

Bond

,

4.5

%

,

5/01/29

.......

United

States

20,000,000

19,047,192

c

SCIH

Salt

Holdings,

Inc.

,

Senior

Secured

Note

,

144A,

4.875

%

,

5/01/28

...........................................

United

States

10,000,000

8,709,550

81,424,908

Communications

Equipment

0.2%

c

CommScope

Technologies

LLC

,

Senior

Bond

,

144A,

6

%

,

6/15/25

.

United

States

10,000,000

9,261,400

Consumer

Finance

2.5%

AerCap

Ireland

Capital

DAC

/

AerCap

Global

Aviation

Trust

,

Senior

Bond,

3.4%,

10/29/33

...........................

Ireland

20,000,000

16,525,047

Senior

Note,

3.15%,

2/15/24

...........................

Ireland

5,000,000

4,862,497

Senior

Note,

2.45%,

10/29/26

..........................

Ireland

5,000,000

4,449,973

Capital

One

Financial

Corp.

,

Senior

Bond,

3.75%,

3/09/27

...........................

United

States

10,000,000

9,842,946

Sub.

Bond,

3.75%,

7/28/26

............................

United

States

10,000,000

9,818,905

Ford

Motor

Credit

Co.

LLC

,

Senior

Note

,

3.625

%

,

6/17/31

.......

United

States

25,000,000

21,262,000

General

Motors

Financial

Co.,

Inc.

,

Senior

Note,

3.7%,

5/09/23

............................

United

States

5,000,000

4,993,958

Senior

Note,

4.3%,

4/06/29

............................

United

States

20,000,000

18,968,803

OneMain

Finance

Corp.

,

Senior

Bond

,

5.375

%

,

11/15/29

........

United

States

7,500,000

6,392,556

97,116,685

Containers

&

Packaging

0.6%

c

Ardagh

Packaging

Finance

plc

/

Ardagh

Holdings

USA,

Inc.

,

Senior

Note,

144A,

5.25%,

8/15/27

......................

United

States

20,000,000

15,273,666

c

Mauser

Packaging

Solutions

Holding

Co.

,

Senior

Note

,

144A,

7.25

%

,

4/15/25

...........................................

United

States

10,000,000

9,197,650

24,471,316

Diversified

Telecommunication

Services

0.9%

c

CCO

Holdings

LLC

/

CCO

Holdings

Capital

Corp.

,

Senior

Bond

,

144A,

5.125

%

,

5/01/27

................................

United

States

15,000,000

14,714,625

Verizon

Communications,

Inc.

,

Senior

Bond

,

4.016

%

,

12/03/29

...

United

States

20,000,000

20,088,217

34,802,842

Electric

Utilities

1.0%

Pacific

Gas

and

Electric

Co.

,

Senior

Bond,

2.95%,

3/01/26

...........................

United

States

10,000,000

9,164,859

Senior

Note,

3.15%,

1/01/26

...........................

United

States

10,000,000

9,319,943

c

Vistra

Operations

Co.

LLC

,

Senior

Secured

Note

,

144A,

3.7

%

,

1/30/27

...........................................

United

States

20,000,000

18,786,066

37,270,868

Electronic

Equipment,

Instruments

&

Components

0.9%

Flex

Ltd.

,

Senior

Bond

,

4.875

%

,

6/15/29

....................

United

States

20,000,000

19,629,874

Jabil,

Inc.

,

Senior

Bond

,

3

%

,

1/15/31

.......................

United

States

20,000,000

17,301,930

36,931,804

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Managed

Income

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

148

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Corporate

Bonds

(continued)

Entertainment

0.5%

c

Magallanes,

Inc.

,

Senior

Note

,

144A,

4.054

%

,

3/15/29

..........

United

States

20,000,000

$

19,046,445

Equity

Real

Estate

Investment

Trusts

(REITs)

1.5%

American

Tower

Corp.

,

Senior

Bond,

3.5%,

1/31/23

............................

United

States

5,000,000

4,999,485

Senior

Bond,

3.375%,

10/15/26

.........................

United

States

15,000,000

14,482,692

Senior

Bond,

3.8%,

8/15/29

............................

United

States

10,000,000

9,571,792

Crown

Castle

International

Corp.

,

Senior

Bond

,

2.5

%

,

7/15/31

....

United

States

10,000,000

8,573,805

VICI

Properties

LP

,

Senior

Bond

,

5.125

%

,

5/15/32

.............

United

States

20,000,000

19,901,000

57,528,774

Food

Products

1.0%

c

JBS

USA

Food

Co.

,

Senior

Bond

,

144A,

3.625

%

,

1/15/32

.......

United

States

20,000,000

16,705,900

c

JBS

USA

LUX

SA

/

JBS

USA

Food

Co.

/

JBS

USA

Finance,

Inc.

,

Senior

Bond

,

144A,

3

%

,

5/15/32

.........................

United

States

10,000,000

8,174,247

c

Post

Holdings,

Inc.

,

Senior

Bond

,

144A,

5.5

%

,

12/15/29

........

United

States

15,000,000

14,202,750

39,082,897

Health

Care

Equipment

&

Supplies

0.8%

Edwards

Lifesciences

Corp.

,

Senior

Bond

,

4.3

%

,

6/15/28

.......

United

States

9,700,000

9,814,389

c

Medline

Borrower

LP

,

Senior

Note

,

144A,

5.25

%

,

10/01/29

......

United

States

25,000,000

22,623,000

32,437,389

Health

Care

Providers

&

Services

4.0%

c

CHS/Community

Health

Systems,

Inc.

,

Secured

Note,

144A,

6.125%,

4/01/30

....................

United

States

35,000,000

18,806,025

Senior

Secured

Note,

144A,

8%,

3/15/26

..................

United

States

25,000,000

23,966,250

Senior

Secured

Note,

144A,

8%,

12/15/27

.................

United

States

10,000,000

9,528,350

Cigna

Corp.

,

Senior

Bond,

2.4%,

3/15/30

............................

United

States

15,000,000

13,450,940

Senior

Note,

3.75%,

7/15/23

...........................

United

States

7,216,000

7,230,909

CVS

Health

Corp.

,

Senior

Bond,

3.875%,

7/20/25

..........................

United

States

15,000,000

15,205,703

Senior

Bond,

3.25%,

8/15/29

...........................

United

States

10,000,000

9,448,477

c

DaVita,

Inc.

,

Senior

Bond

,

144A,

3.75

%

,

2/15/31

..............

United

States

20,000,000

15,247,300

Elevance

Health,

Inc.

,

Senior

Bond

,

3.3

%

,

1/15/23

............

United

States

5,000,000

5,000,649

c

Fresenius

Medical

Care

US

Finance

III,

Inc.

,

Senior

Bond

,

144A,

2.375

%

,

2/16/31

.....................................

Germany

20,000,000

16,028,113

c

HCA,

Inc.

,

Senior

Bond

,

144A,

3.625

%

,

3/15/32

..............

United

States

15,000,000

13,628,279

c

Tenet

Healthcare

Corp.

,

Senior

Secured

Note

,

144A,

6.125

%

,

6/15/30

...........................................

United

States

10,000,000

10,115,400

157,656,395

Hotels,

Restaurants

&

Leisure

1.0%

Las

Vegas

Sands

Corp.

,

Senior

Note

,

3.2

%

,

8/08/24

...........

United

States

10,000,000

9,717,938

c

Penn

National

Gaming,

Inc.

,

Senior

Note

,

144A,

5.625

%

,

1/15/27

.

United

States

10,000,000

9,304,570

Starbucks

Corp.

,

Senior

Bond

,

3

%

,

2/14/32

..................

United

States

10,000,000

9,157,032

c

Wynn

Las

Vegas

LLC

/

Wynn

Las

Vegas

Capital

Corp.

,

Senior

Bond

,

144A,

5.5

%

,

3/01/25

.................................

United

States

10,000,000

9,864,600

38,044,140

Household

Durables

0.2%

Toll

Brothers

Finance

Corp.

,

Senior

Bond

,

4.35

%

,

2/15/28

.......

United

States

10,000,000

9,474,734

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Managed

Income

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

149

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Corporate

Bonds

(continued)

IT

Services

0.5%

Fiserv,

Inc.

,

Senior

Bond

,

4.2

%

,

10/01/28

...................

United

States

20,000,000

$

20,043,201

Machinery

0.2%

CNH

Industrial

NV

,

Senior

Bond

,

3.85

%

,

11/15/27

.............

United

Kingdom

7,500,000

7,199,680

Media

0.3%

c

CSC

Holdings

LLC

,

Senior

Bond

,

144A,

5.375

%

,

2/01/28

.......

United

States

12,500,000

11,905,687

Metals

&

Mining

1.5%

ArcelorMittal

SA

,

Senior

Bond

,

4.25

%

,

7/16/29

...............

Luxembourg

20,000,000

19,555,420

c

FMG

Resources

August

2006

Pty.

Ltd.

,

Senior

Note

,

144A,

5.875

%

,

4/15/30

...........................................

Australia

15,000,000

14,330,625

Freeport-McMoRan,

Inc.

,

Senior

Bond,

4.625%,

8/01/30

..........................

United

States

15,000,000

14,409,975

Senior

Note,

4.125%,

3/01/28

..........................

United

States

5,000,000

4,729,225

c

Glencore

Funding

LLC

,

Senior

Bond

,

144A,

2.5

%

,

9/01/30

......

Australia

5,000,000

4,157,735

57,182,980

Oil,

Gas

&

Consumable

Fuels

0.7%

c

Calumet

Specialty

Products

Partners

LP

/

Calumet

Finance

Corp.

,

Senior

Note

,

144A,

11

%

,

4/15/25

........................

United

States

15,000,000

14,709,450

Occidental

Petroleum

Corp.

,

Senior

Note

,

6.375

%

,

9/01/28

......

United

States

10,000,000

10,732,467

25,441,917

Paper

&

Forest

Products

0.4%

Suzano

Austria

GmbH

,

Senior

Bond,

3.75%,

1/15/31

...........................

Brazil

15,000,000

13,176,150

Senior

Note,

2.5%,

9/15/28

............................

Brazil

5,000,000

4,241,150

17,417,300

Personal

Products

0.5%

c

GSK

Consumer

Healthcare

Capital

US

LLC

,

Senior

Note

,

144A,

3.375

%

,

3/24/29

.....................................

United

States

20,000,000

19,349,695

Pharmaceuticals

2.6%

c

Bausch

Health

Americas,

Inc.

,

Senior

Note

,

144A,

9.25

%

,

4/01/26

.

United

States

25,000,000

17,462,375

c

Bausch

Health

Cos.,

Inc.

,

Senior

Secured

Note,

144A,

5.5%,

11/01/25

...............

United

States

10,000,000

8,937,050

Senior

Secured

Note,

144A,

6.125%,

2/01/27

..............

United

States

10,000,000

8,545,200

c

Bayer

US

Finance

II

LLC

,

Senior

Note

,

144A,

4.25

%

,

12/15/25

...

Germany

15,000,000

14,986,397

Bristol-Myers

Squibb

Co.

,

Senior

Note

,

3.4

%

,

7/26/29

..........

United

States

3,091,000

3,063,829

Mylan,

Inc.

,

Senior

Note

,

4.55

%

,

4/15/28

....................

United

States

19,000,000

18,310,128

c

Par

Pharmaceutical,

Inc.

,

Senior

Secured

Note

,

144A,

7.5

%

,

4/01/27

United

States

15,000,000

12,128,100

Royalty

Pharma

plc

,

Senior

Note

,

2.2

%

,

9/02/30

..............

United

States

20,000,000

16,904,925

100,338,004

Semiconductors

&

Semiconductor

Equipment

1.2%

c

Broadcom,

Inc.

,

Senior

Bond,

144A,

4.15%,

4/15/32

......................

United

States

20,000,000

18,832,238

Senior

Bond,

144A,

3.469%,

4/15/34

.....................

United

States

10,000,000

8,569,919

Microchip

Technology,

Inc.

,

Senior

Note,

4.25%,

9/01/25

...........................

United

States

5,000,000

4,983,386

Senior

Secured

Note,

4.333%,

6/01/23

...................

United

States

15,000,000

15,061,794

47,447,337

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Managed

Income

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

150

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Corporate

Bonds

(continued)

Software

1.1%

Oracle

Corp.

,

Senior

Bond

,

2.875

%

,

3/25/31

.................

United

States

20,000,000

$

17,255,469

Workday,

Inc.

,

Senior

Bond

,

3.8

%

,

4/01/32

..................

United

States

25,000,000

23,878,665

41,134,134

Specialty

Retail

0.7%

Lowe's

Cos.,

Inc.

,

Senior

Bond,

3.75%,

4/01/32

...........................

United

States

20,000,000

19,429,670

Senior

Note,

1.7%,

10/15/30

...........................

United

States

10,000,000

8,402,295

27,831,965

Technology

Hardware,

Storage

&

Peripherals

0.6%

HP,

Inc.

,

Senior

Bond

,

5.5

%

,

1/15/33

.......................

United

States

25,000,000

25,166,457

Tobacco

1.4%

Altria

Group,

Inc.

,

Senior

Bond

,

4.8

%

,

2/14/29

................

United

States

15,000,000

14,918,051

BAT

Capital

Corp.

,

Senior

Note

,

3.557

%

,

8/15/27

.............

United

Kingdom

15,000,000

14,043,010

BAT

International

Finance

plc

,

Senior

Note

,

4.448

%

,

3/16/28

.....

United

Kingdom

10,000,000

9,582,530

Reynolds

American,

Inc.

,

Senior

Bond

,

4.45

%

,

6/12/25

.........

United

Kingdom

15,000,000

14,997,128

53,540,719

Wireless

Telecommunication

Services

0.9%

Sprint

Corp.

,

Senior

Note

,

7.625

%

,

2/15/25

..................

United

States

10,000,000

10,686,750

c

Sprint

Spectrum

Co.

LLC

/

Sprint

Spectrum

Co.

II

LLC

/

Sprint

Spectrum

Co.

III

LLC

,

Senior

Secured

Note

,

144A,

4.738

%

,

9/20/29

...........................................

United

States

5,156,261

5,184,121

T-Mobile

USA,

Inc.

,

Senior

Secured

Note

,

3.75

%

,

4/15/27

.......

United

States

20,000,000

19,693,327

35,564,198

Total

Corporate

Bonds

(Cost

$1,381,574,387)

...................................

1,353,992,194

U.S.

Government

and

Agency

Securities

6.5%

U.S.

Treasury

Bonds

,

2.875

%,

5/15/52

.....................

United

States

50,000,000

48,375,000

U.S.

Treasury

Notes

,

2.25%,

3/31/24

.....................................

United

States

50,000,000

49,430,664

2.375%,

4/30/26

.....................................

United

States

40,000,000

39,456,250

1.875%,

2/15/32

.....................................

United

States

50,000,000

46,679,687

2.875%,

5/15/32

.....................................

United

States

70,000,000

71,263,282

Total

U.S.

Government

and

Agency

Securities

(Cost

$247,330,796)

................

255,204,883

Asset-Backed

Securities

0.5%

Airlines

0.5%

United

Airlines

Pass-Through

Trust

,

2020-1,

A,

Senior

Note,

5.875%,

10/15/27

.................

United

States

8,186,125

8,267,478

2020-1,

B,

4.875%,

7/15/27

............................

United

States

9,552,000

9,082,033

17,349,511

a

a

a

a

a

a

Total

Asset-Backed

Securities

(Cost

$17,738,125)

...............................

17,349,511

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Managed

Income

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

151

See

Abbreviations

on

page

399

.

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Mortgage-Backed

Securities

0.0%

†

Federal

National

Mortgage

Association

(FNMA)

Fixed

Rate

0.0%

†

FNMA,

30

Year,

4%,

8/01/49

.............................

United

States

1,182,932

$

1,203,841

Total

Mortgage-Backed

Securities

(Cost

$1,253,168)

.............................

1,203,841

Total

Long

Term

Investments

(Cost

$3,449,048,912)

.............................

3,821,471,379

a

Short

Term

Investments

1.5%

a

a

Country

Shares

a

Value

a

a

a

Money

Market

Funds

1.4%

a,e

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

1.445%

....

United

States

55,874,337

55,874,337

Total

Money

Market

Funds

(Cost

$55,874,337)

..................................

55,874,337

a

a

a

Investments

from

Cash

Collateral

Received

for

Loaned

Securities

0.1%

Money

Market

Funds

0.1%

a,e

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

1.445%

....

United

States

2,826,000

2,826,000

Principal

Amount

*

Repurchase

Agreements

0.0%

†

f

Joint

Repurchase

Agreement,

BNP

Paribas

SA,

2.23%,

8/01/22

(Maturity

Value

$707,806)

Collateralized

by

U.S.

Treasury

Bonds,

6%

-

7.25%,

8/15/22

-

2/15/26;

U.S.

Treasury

Notes,

1.125%

-

2%,

7/31/24

-

11/15/26;

and

U.S.

Treasury

Notes,

Index

Linked,

0.125%

-

0.625%,

7/15/24

-

1/15/26

(valued

at

$721,828)

..........................

707,674

707,674

Total

Investments

from

Cash

Collateral

Received

for

Loaned

Securities

(Cost

$3,533,674)

............................................................

3,533,674

Total

Short

Term

Investments

(Cost

$59,408,011

)

................................

59,408,011

a

Total

Investments

(Cost

$3,508,456,923)

99.5%

..................................

$3,880,879,390

Other

Assets,

less

Liabilities

0.5%

.............................................

19,469,857

Net

Assets

100.0%

...........................................................

$3,900,349,247

*

The

principal

amount

is

stated

in

U.S.

dollars

unless

otherwise

indicated.

†

Rounds

to

less

than

0.1%

of

net

assets.

a

See

Note

6

regarding

investments

in

affiliated

management

investment

companies.

b

A

portion

or

all

of

the

security

is

on

loan

at

July

31,

2022.

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

July

31,

2022,

the

aggregate

value

of

these

securities

was

$847,758,226,

representing

21.7%

of

net

assets.

d

A

portion

or

all

of

the

security

purchased

on

a

delayed

delivery

basis.

e

The

rate

shown

is

the

annualized

seven-day

effective

yield

at

period

end.

f

Investment

is

through

participation

in

a

joint

account

with

other

funds

managed

by

the

investment

manager

or

an

affiliate

of

the

investment

manager.

At

July

31,

2022,

all

repurchase

agreements

had

been

entered

into

on

July

29,

2022.

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited),

July

31,

2022

Franklin

Total

Return

Fund

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

152

a

a

Country

Shares

a

Value

a

a

a

a

a

a

Common

Stocks

0.0%

†

Energy

Equipment

&

Services

0.0%

†

a

Valaris

Ltd.

..........................................

United

States

2,435

$

122,188

a

Weatherford

International

plc

.............................

United

States

34,108

788,918

911,106

Multiline

Retail

0.0%

a,b,c

K2016470219

South

Africa

Ltd.,

A

.........................

South

Africa

28,762,824

—

a,b,c

K2016470219

South

Africa

Ltd.,

B

.........................

South

Africa

2,862,311

—

—

Oil,

Gas

&

Consumable

Fuels

0.0%

a,b,c

Riviera

Resources,

Inc.

.................................

United

States

12,605

—

Total

Common

Stocks

(Cost

$1,831,531)

.......................................

911,106

Management

Investment

Companies

15.4%

Capital

Markets

15.4%

d

Franklin

Floating

Rate

Income

Fund

.......................

United

States

25,344,953

194,395,789

d

Franklin

Liberty

Investment

Grade

Corporate

ETF

.............

United

States

16,060,000

359,744,000

d

Franklin

Liberty

Senior

Loan

ETF

.........................

United

States

1,737,400

41,063,449

595,203,238

Total

Management

Investment

Companies

(Cost

$648,430,920)

...................

595,203,238

Preferred

Stocks

0.1%

Banks

0.1%

Citigroup

Capital

XIII,

9.176%

............................

United

States

93,000

2,541,690

Total

Preferred

Stocks

(Cost

$2,325,000)

.......................................

2,541,690

Warrants

Warrants

0.0%

†

Oil,

Gas

&

Consumable

Fuels

0.0%

†

a,b

Battalion

Oil

Corp.,

A,

10/08/22

...........................

United

States

2,551

4

a,b

Battalion

Oil

Corp.,

B,

10/08/22

...........................

United

States

3,189

1

a,b

Battalion

Oil

Corp.,

C,

10/08/22

...........................

United

States

4,100

—

5

Total

Warrants

(Cost

$–)

......................................................

5

Principal

Amount

*

Corporate

Bonds

14.3%

Aerospace

&

Defense

0.5%

Boeing

Co.

(The)

,

Senior

Note

,

5.15

%

,

5/01/30

...............

United

States

13,500,000

13,642,055

Northrop

Grumman

Corp.

,

Senior

Bond

,

5.25

%

,

5/01/50

........

United

States

3,500,000

3,858,217

17,500,272

Air

Freight

&

Logistics

0.1%

e

DAE

Funding

LLC

,

Senior

Note

,

144A,

1.55

%

,

8/01/24

.........

United

Arab

Emirates

3,300,000

3,091,600

FedEx

Corp.

,

Senior

Bond

,

4.05

%

,

2/15/48

..................

United

States

2,000,000

1,759,295

4,850,895

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

153

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Corporate

Bonds

(continued)

Airlines

0.6%

e

American

Airlines

Inc/AAdvantage

Loyalty

IP

Ltd.

,

Senior

Secured

Note

,

144A,

5.75

%

,

4/20/29

............................

United

States

1,600,000

$

1,534,152

e

Delta

Air

Lines,

Inc.

/

SkyMiles

IP

Ltd.

,

Senior

Secured

Note

,

144A,

4.5

%

,

10/20/25

.....................................

United

States

12,400,000

12,254,323

e

International

Consolidated

Airlines

Group

SA

,

Senior

Note

,

Reg

S,

3.75

%

,

3/25/29

.....................................

United

Kingdom

13,000,000

EUR

10,254,739

24,043,214

Banks

2.1%

e

Banco

de

Chile

,

Senior

Bond

,

144A,

2.99

%

,

12/09/31

..........

Chile

5,700,000

4,831,576

Banco

Santander

SA

,

Sub.

Bond

,

2.749

%

,

12/03/30

...........

Spain

3,600,000

2,901,991

Bank

of

America

Corp.

,

Senior

Bond,

2.592%

to

4/28/30,

FRN

thereafter,

4/29/31

.....

United

States

6,700,000

5,863,542

Senior

Note,

3.864%

to

7/22/23,

FRN

thereafter,

7/23/24

......

United

States

14,700,000

14,668,700

Citigroup,

Inc.

,

Senior

Bond,

2.572%

to

6/02/30,

FRN

thereafter,

6/03/31

.....

United

States

8,000,000

6,963,864

Senior

Bond,

3.057%

to

1/24/32,

FRN

thereafter,

1/25/33

.....

United

States

8,600,000

7,649,913

Senior

Note,

4.044%

to

5/31/23,

FRN

thereafter,

6/01/24

......

United

States

14,600,000

14,623,646

JPMorgan

Chase

&

Co.

,

Senior

Bond,

4.493%

to

3/23/30,

FRN

thereafter,

3/24/31

.....

United

States

17,100,000

17,219,061

Sub.

Bond,

4.95%,

6/01/45

............................

United

States

1,600,000

1,613,168

e

Societe

Generale

SA

,

Senior

Note

,

144A,

1.792%

to

6/08/26,

FRN

thereafter

,

6/09/27

...................................

France

7,500,000

6,628,981

82,964,442

Beverages

0.1%

Anheuser-Busch

Cos.

LLC

/

Anheuser-Busch

InBev

Worldwide,

Inc.

,

Senior

Bond,

4.7%,

2/01/36

............................

Belgium

1,800,000

1,853,239

Senior

Bond,

4.9%,

2/01/46

............................

Belgium

3,400,000

3,432,216

5,285,455

Biotechnology

0.1%

AbbVie,

Inc.

,

Senior

Bond

,

4.7

%

,

5/14/45

...................

United

States

3,200,000

3,204,629

Capital

Markets

0.7%

Goldman

Sachs

Group,

Inc.

(The)

,

Senior

Bond

,

2.65%

to

10/20/31,

FRN

thereafter

,

10/21/32

..............................

United

States

15,000,000

12,917,777

Morgan

Stanley

,

Senior

Bond

,

1.928%

to

4/27/31,

FRN

thereafter

,

4/28/32

...........................................

United

States

15,200,000

12,532,577

25,450,354

Chemicals

0.4%

e,f

Anagram

International,

Inc.

/

Anagram

Holdings

LLC

,

Secured

Note

,

144A,

PIK,

10

%

,

8/15/26

..............................

United

States

663,254

648,978

e

Braskem

Idesa

SAPI

,

Senior

Secured

Bond

,

144A,

6.99

%

,

2/20/32

Mexico

9,300,000

8,043,663

Sasol

Financing

USA

LLC

,

Senior

Bond

,

6.5

%

,

9/27/28

.........

South

Africa

7,200,000

6,873,012

15,565,653

Communications

Equipment

0.0%

†

e

CommScope

Technologies

LLC

,

Senior

Bond

,

144A,

5

%

,

3/15/27

.

United

States

2,000,000

1,649,600

Consumer

Finance

0.3%

AerCap

Ireland

Capital

DAC

/

AerCap

Global

Aviation

Trust

,

Senior

Bond

,

3.4

%

,

10/29/33

.................................

Ireland

14,600,000

12,063,284

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

154

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Corporate

Bonds

(continued)

Containers

&

Packaging

0.2%

e

Pactiv

Evergreen

Group

Issuer,

Inc./Pactiv

Evergreen

Group

Issuer

LLC

,

Senior

Secured

Note

,

144A,

4

%

,

10/15/27

.............

United

States

2,300,000

$

2,029,543

WRKCo,

Inc.

,

Senior

Bond

,

3

%

,

6/15/33

....................

United

States

4,700,000

4,127,408

6,156,951

Diversified

Financial

Services

0.1%

Shell

International

Finance

BV

,

Senior

Bond

,

4.55

%

,

8/12/43

.....

Netherlands

1,700,000

1,709,431

Electric

Utilities

1.2%

Commonwealth

Edison

Co.

,

Senior

Bond

,

6.45

%

,

1/15/38

.......

United

States

700,000

847,048

Duke

Energy

Corp.

,

Senior

Bond

,

3.75

%

,

9/01/46

.............

United

States

2,000,000

1,686,183

Duke

Energy

Florida

LLC

,

Senior

Bond

,

6.4

%

,

6/15/38

.........

United

States

1,300,000

1,561,514

e

Enel

Finance

International

NV

,

Senior

Bond

,

144A,

6.8

%

,

9/15/37

.

Italy

3,000,000

3,366,043

Exelon

Corp.

,

Senior

Bond

,

4.05

%

,

4/15/30

..................

United

States

8,400,000

8,338,319

Georgia

Power

Co.

,

Senior

Bond

,

4.3

%

,

3/15/42

..............

United

States

9,000,000

8,301,855

Southern

Co.

(The)

,

Senior

Bond,

4.4%,

7/01/46

............................

United

States

2,000,000

1,865,692

A,

Senior

Bond,

3.7%,

4/30/30

.........................

United

States

10,500,000

10,215,115

e

State

Grid

Overseas

Investment

BVI

Ltd.

,

Senior

Bond

,

144A,

3.5

%

,

5/04/27

...........................................

China

10,700,000

10,742,281

Virginia

Electric

and

Power

Co.

,

Senior

Bond

,

6.35

%

,

11/30/37

...

United

States

520,000

620,917

47,544,967

Electronic

Equipment,

Instruments

&

Components

0.2%

Flex

Ltd.

,

Senior

Bond

,

4.875

%

,

5/12/30

....................

United

States

7,500,000

7,328,963

Equity

Real

Estate

Investment

Trusts

(REITs)

0.0%

†

MPT

Operating

Partnership

LP

/

MPT

Finance

Corp.

,

Senior

Bond

,

3.5

%

,

3/15/31

......................................

United

States

1,400,000

1,208,340

Food

Products

0.3%

e

JBS

USA

Food

Co.

,

Senior

Bond,

144A,

3.625%,

1/15/32

.....................

United

States

2,500,000

2,088,237

Senior

Note,

144A,

2.5%,

1/15/27

.......................

United

States

8,200,000

7,298,000

Kraft

Heinz

Foods

Co.

,

Senior

Note

,

3.75

%

,

4/01/30

...........

United

States

4,000,000

3,848,142

13,234,379

Health

Care

Equipment

&

Supplies

0.1%

STERIS

Irish

FinCo.

UnLtd.

Co.

,

Senior

Note

,

2.7

%

,

3/15/31

.....

United

States

2,400,000

2,105,817

Health

Care

Providers

&

Services

0.8%

Centene

Corp.

,

Senior

Bond

,

3

%

,

10/15/30

..................

United

States

2,500,000

2,234,425

CVS

Health

Corp.

,

Senior

Bond

,

4.78

%

,

3/25/38

..............

United

States

3,200,000

3,208,091

e

DaVita,

Inc.

,

Senior

Note

,

144A,

4.625

%

,

6/01/30

.............

United

States

1,900,000

1,561,629

Elevance

Health,

Inc.

,

Senior

Bond

,

4.65

%

,

1/15/43

...........

United

States

3,100,000

3,095,267

Kaiser

Foundation

Hospitals

,

2019

,

Senior

Bond

,

3.266

%

,

11/01/49

United

States

11,270,000

9,133,387

Orlando

Health

Obligated

Group

,

3.777

%

,

10/01/28

............

United

States

2,810,000

2,750,489

Providence

St

Joseph

Health

Obligated

Group

,

H

,

2.746

%

,

10/01/26

United

States

8,875,000

8,590,458

30,573,746

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

155

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Corporate

Bonds

(continued)

Hotels,

Restaurants

&

Leisure

0.5%

Las

Vegas

Sands

Corp.

,

Senior

Bond

,

3.9

%

,

8/08/29

...........

United

States

2,000,000

$

1,788,776

e

Melco

Resorts

Finance

Ltd.

,

Senior

Note

,

144A,

5.75

%

,

7/21/28

..

Hong

Kong

7,800,000

5,560,598

e

Studio

City

Finance

Ltd.

,

Senior

Note

,

144A,

5

%

,

1/15/29

.......

Macau

13,000,000

6,664,150

e

Wynn

Macau

Ltd.

,

Senior

Note

,

144A,

5.625

%

,

8/26/28

.........

Macau

7,800,000

6,103,422

20,116,946

Household

Durables

0.2%

Mohawk

Industries,

Inc.

,

Senior

Bond

,

3.625

%

,

5/15/30

.........

United

States

6,420,000

5,972,752

Independent

Power

and

Renewable

Electricity

Producers

0.2%

e

Colbun

SA

,

Senior

Bond

,

144A,

3.15

%

,

3/06/30

...............

Chile

4,400,000

3,822,544

e

InterGen

NV

,

Senior

Secured

Bond

,

144A,

7

%

,

6/30/23

.........

Netherlands

3,300,000

3,183,114

e,g

Talen

Energy

Supply

LLC

,

Senior

Secured

Note

,

144A,

7.25

%

,

5/15/27

...........................................

United

States

2,000,000

1,986,424

8,992,082

Interactive

Media

&

Services

0.2%

e

Tencent

Holdings

Ltd.

,

Senior

Bond

,

144A,

2.39

%

,

6/03/30

......

China

10,000,000

8,496,972

IT

Services

0.2%

Fiserv,

Inc.

,

Senior

Bond

,

2.65

%

,

6/01/30

...................

United

States

9,100,000

8,019,719

Life

Sciences

Tools

&

Services

0.0%

†

PerkinElmer,

Inc.

,

Senior

Bond

,

2.25

%

,

9/15/31

...............

United

States

1,800,000

1,484,278

Media

0.7%

Charter

Communications

Operating

LLC

/

Charter

Communications

Operating

Capital

,

Senior

Secured

Bond

,

2.8

%

,

4/01/31

.......

United

States

12,500,000

10,588,093

e

Diamond

Sports

Group

LLC

/

Diamond

Sports

Finance

Co.

,

Senior

Secured

Note

,

144A,

5.375

%

,

8/15/26

....................

United

States

8,000,000

1,770,000

Fox

Corp.

,

Senior

Bond

,

5.476

%

,

1/25/39

...................

United

States

4,800,000

4,924,527

Time

Warner

Cable

LLC

,

Senior

Secured

Bond,

6.55%,

5/01/37

....................

United

States

5,700,000

5,964,685

Senior

Secured

Bond,

6.75%,

6/15/39

....................

United

States

2,400,000

2,445,996

25,693,301

Multiline

Retail

0.2%

b,e,f

K2016470219

South

Africa

Ltd.

,

Senior

Secured

Note

,

144A,

PIK,

3

%

,

12/31/22

.......................................

South

Africa

2,492,650

—

b,e,f

K2016470260

South

Africa

Ltd.

,

Senior

Secured

Note

,

144A,

PIK,

25

%

,

12/31/22

......................................

South

Africa

1,098,025

—

Kohl's

Corp.

,

Senior

Bond

,

3.375

%

,

5/01/31

.................

United

States

12,350,000

9,316,287

9,316,287

Multi-Utilities

0.2%

Berkshire

Hathaway

Energy

Co.

,

Senior

Bond

,

6.125

%

,

4/01/36

..

United

States

2,700,000

3,116,018

Dominion

Energy,

Inc.

,

C

,

Senior

Note

,

3.375

%

,

4/01/30

........

United

States

4,351,000

4,139,657

7,255,675

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

156

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Corporate

Bonds

(continued)

Oil,

Gas

&

Consumable

Fuels

1.6%

e

Aker

BP

ASA

,

Senior

Bond

,

144A,

4

%

,

1/15/31

...............

Norway

5,400,000

$

5,031,760

Boardwalk

Pipelines

LP

,

Senior

Bond

,

3.4

%

,

2/15/31

...........

United

States

6,275,000

5,538,371

Cheniere

Corpus

Christi

Holdings

LLC

,

Senior

Secured

Note

,

5.875

%

,

3/31/25

.....................................

United

States

1,600,000

1,647,889

Cheniere

Energy,

Inc.

,

Senior

Note

,

4.625

%

,

10/15/28

..........

United

States

1,700,000

1,657,415

e

Continental

Resources,

Inc.

,

Senior

Bond

,

144A,

5.75

%

,

1/15/31

..

United

States

5,500,000

5,430,425

e

Crestwood

Midstream

Partners

LP

/

Crestwood

Midstream

Finance

Corp.

,

Senior

Note

,

144A,

6

%

,

2/01/29

....................

United

States

3,000,000

2,738,070

Energy

Transfer

LP

,

Senior

Bond,

4.75%,

1/15/26

...........................

United

States

4,500,000

4,534,175

Senior

Note,

4.15%,

5/15/24

...........................

United

States

3,600,000

3,581,589

Enterprise

Products

Operating

LLC

,

Senior

Bond

,

3.125

%

,

7/31/29

United

States

2,000,000

1,865,979

Exxon

Mobil

Corp.

,

Senior

Bond

,

3.452

%

,

4/15/51

.............

United

States

2,000,000

1,732,298

e

Harvest

Operations

Corp.

,

Senior

Note

,

144A,

4.2

%

,

6/01/23

.....

South

Korea

3,800,000

3,825,669

e

Hilcorp

Energy

I

LP

/

Hilcorp

Finance

Co.

,

Senior

Note

,

144A,

6

%

,

4/15/30

...........................................

United

States

2,300,000

2,090,458

e

Martin

Midstream

Partners

LP

/

Martin

Midstream

Finance

Corp.

,

Secured

Note

,

144A,

11.5

%

,

2/28/25

.....................

United

States

689,984

674,421

MPLX

LP

,

Senior

Bond,

4.7%,

4/15/48

............................

United

States

2,000,000

1,756,862

Senior

Note,

4.875%,

6/01/25

..........................

United

States

4,500,000

4,595,529

Occidental

Petroleum

Corp.

,

Senior

Bond

,

6.2

%

,

3/15/40

........

United

States

2,500,000

2,563,818

Phillips

66

,

Senior

Bond

,

2.15

%

,

12/15/30

...................

United

States

4,900,000

4,192,267

TransCanada

PipeLines

Ltd.

,

Senior

Bond

,

4.25

%

,

5/15/28

......

Canada

3,400,000

3,419,402

e

Tullow

Oil

plc

,

Senior

Note

,

144A,

7

%

,

3/01/25

...............

Ghana

600,000

496,830

e

Venture

Global

Calcasieu

Pass

LLC

,

Senior

Secured

Bond,

144A,

4.125%,

8/15/31

..............

United

States

1,000,000

924,070

Senior

Secured

Note,

144A,

3.875%,

8/15/29

..............

United

States

500,000

462,555

Williams

Cos.,

Inc.

(The)

,

Senior

Bond

,

3.5

%

,

11/15/30

.........

United

States

3,200,000

2,980,745

61,740,597

Paper

&

Forest

Products

0.1%

Suzano

Austria

GmbH

,

DM3N

,

Senior

Bond

,

3.125

%

,

1/15/32

....

Brazil

2,300,000

1,872,234

Personal

Products

0.0%

†

e

Oriflame

Investment

Holding

plc

,

Senior

Secured

Note

,

144A,

5.125

%

,

5/04/26

.....................................

Switzerland

2,600,000

1,583,400

Pharmaceuticals

0.3%

Royalty

Pharma

plc

,

Senior

Bond

,

2.15

%

,

9/02/31

.............

United

States

11,800,000

9,763,074

Teva

Pharmaceutical

Finance

Netherlands

III

BV

,

Senior

Note

,

5.125

%

,

5/09/29

.....................................

Israel

2,000,000

1,839,920

11,602,994

Real

Estate

Management

&

Development

0.2%

e

Country

Garden

Holdings

Co.

Ltd.

,

Senior

Secured

Note

,

Reg

S,

7.25

%

,

4/08/26

.....................................

China

12,900,000

4,757,251

e

Vivion

Investments

SARL

,

Senior

Note

,

Reg

S,

3

%

,

8/08/24

.....

Luxembourg

1,700,000

EUR

1,593,786

6,351,037

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

157

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Corporate

Bonds

(continued)

Road

&

Rail

0.1%

Burlington

Northern

Santa

Fe

LLC

,

Senior

Bond

,

4.9

%

,

4/01/44

...

United

States

1,600,000

$

1,703,865

e

Kazakhstan

Temir

Zholy

Finance

BV

,

Senior

Bond

,

144A,

6.95

%

,

7/10/42

...........................................

Kazakhstan

3,700,000

3,147,054

4,850,919

Semiconductors

&

Semiconductor

Equipment

0.4%

e

SK

Hynix,

Inc.

,

Senior

Bond

,

144A,

2.375

%

,

1/19/31

...........

South

Korea

20,500,000

16,277,325

Technology

Hardware,

Storage

&

Peripherals

0.1%

Apple,

Inc.

,

Senior

Bond

,

2.65

%

,

5/11/50

....................

United

States

3,000,000

2,363,062

Thrifts

&

Mortgage

Finance

0.1%

Radian

Group,

Inc.

,

Senior

Note

,

4.875

%

,

3/15/27

.............

United

States

2,000,000

1,960,740

Tobacco

0.5%

Altria

Group,

Inc.

,

Senior

Bond

,

3.4

%

,

5/06/30

................

United

States

21,900,000

19,191,217

Wireless

Telecommunication

Services

0.7%

e

America

Movil

SAB

de

CV

,

Senior

Bond

,

144A,

5.375

%

,

4/04/32

..

Mexico

8,700,000

8,265,566

T-Mobile

USA,

Inc.

,

Senior

Secured

Note

,

3.875

%

,

4/15/30

......

United

States

10,000,000

9,625,191

Vodafone

Group

plc

,

Senior

Bond

,

6.15

%

,

2/27/37

.............

United

Kingdom

9,000,000

10,035,047

27,925,804

Total

Corporate

Bonds

(Cost

$650,931,372)

.....................................

553,507,733

Senior

Floating

Rate

Interests

0.1%

Aerospace

&

Defense

0.0%

†

h

Dynasty

Acquisition

Co.,

Inc.

,

2020

Term

Loan,

B1,

5.872%,

(1-month

USD

LIBOR

+

3.5%),

4/06/26

...........................................

United

States

21,166

20,055

2020

Term

Loan,

B2,

5.872%,

(1-month

USD

LIBOR

+

3.5%),

4/06/26

...........................................

United

States

11,379

10,782

30,837

a

a

a

a

a

a

Leisure

Products

0.0%

†

h

Motion

Acquisition

Ltd.

,

Term

Loan,

B1,

5.5%,

(3-month

USD

LIBOR

+

3.25%),

11/12/26

.

United

Kingdom

165,119

152,780

Term

Loan,

B2,

5.5%,

(3-month

USD

LIBOR

+

3.25%),

11/12/26

.

United

Kingdom

23,540

21,780

174,560

a

a

a

a

a

a

Media

0.1%

h

Diamond

Sports

Group

LLC

,

First

Lien,

CME

Term

Loan,

9.786%,

(1-month

SOFR

+

8%),

5/25/26

...........................................

United

States

2,343,334

2,232,026

Second

Lien,

CME

Term

Loan,

5.036%,

(1-month

SOFR

+

3.25%),

8/24/26

...........................................

United

States

4,753,920

967,755

3,199,781

a

a

a

a

a

a

Total

Senior

Floating

Rate

Interests

(Cost

$7,759,856)

...........................

3,405,178

i

Marketplace

Loans

2.7%

b

Diversified

Financial

Services

2.7%

a

a

a

a

a

a

Total

Marketplace

Loans

(Cost

$114,268,725)

...................................

106,418,130

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

158

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Foreign

Government

and

Agency

Securities

3.4%

e

African

Export-Import

Bank

(The)

,

Senior

Bond,

144A,

3.994%,

9/21/29

.....................

Supranational

j

1,400,000

$

1,180,074

Senior

Bond,

144A,

3.798%,

5/17/31

.....................

Supranational

j

11,600,000

9,422,216

e

Banque

Ouest

Africaine

de

Developpement

,

Senior

Bond

,

144A,

5

%

,

7/27/27

...........................................

Supranational

j

10,700,000

9,795,957

Colombia

Government

Bond

,

Senior

Bond

,

5

%

,

6/15/45

........

Colombia

8,800,000

6,426,628

e

Comision

Federal

de

Electricidad

,

Senior

Bond

,

144A,

3.348

%

,

2/09/31

...........................................

Mexico

12,200,000

9,731,147

e

Corp.

Nacional

del

Cobre

de

Chile

,

Senior

Bond

,

144A,

3.75

%

,

1/15/31

...........................................

Chile

6,500,000

6,139,307

e

Dominican

Republic

Government

Bond

,

Senior

Note

,

144A,

8.9

%

,

2/15/23

...........................................

Dominican

Republic

610,400,000

DOP

11,184,313

Ecopetrol

SA

,

Senior

Bond,

5.375%,

6/26/26

..........................

Colombia

6,200,000

6,009,071

Senior

Bond,

4.625%,

11/02/31

.........................

Colombia

7,000,000

5,774,370

e,k

Electricite

de

France

SA

,

Junior

Sub.

Bond

,

144A,

5.25%

to

1/28/23,

FRN

thereafter

,

Perpetual

.............................

France

24,000,000

23,070,000

e

Gabon

Government

Bond

,

Senior

Bond

,

144A,

6.625

%

,

2/06/31

..

Gabon

2,500,000

1,771,875

e

Iraq

Government

Bond

,

Senior

Bond

,

144A,

5.8

%

,

1/15/28

......

Iraq

3,643,750

3,154,850

e

Israel

Electric

Corp.

Ltd.

,

Senior

Secured

Bond

,

144A,

Reg

S,

4.25

%

,

8/14/28

...........................................

Israel

6,700,000

6,655,794

e

Nigeria

Government

Bond

,

Senior

Bond

,

144A,

9.248

%

,

1/21/49

..

Nigeria

3,600,000

2,491,308

e

Panama

Government

Bond

,

Senior

Note

,

144A,

3.75

%

,

4/17/26

..

Panama

5,700,000

5,614,500

Peru

Government

Bond

,

Senior

Bond,

2.783%,

1/23/31

..........................

Peru

8,000,000

7,066,541

Senior

Bond,

6.55%,

3/14/37

...........................

Peru

2,900,000

3,306,563

Petroleos

Mexicanos

,

Senior

Bond

,

6.625

%

,

6/15/35

...........

Mexico

6,000,000

4,410,000

e

Romania

Government

Bond

,

Senior

Bond

,

144A,

6.125

%

,

1/22/44

.

Romania

9,500,000

8,956,505

e

Tunisia

Government

Bond

,

Senior

Bond

,

144A,

5.75

%

,

1/30/25

...

Tunisia

2,200,000

1,200,025

Total

Foreign

Government

and

Agency

Securities

(Cost

$158,419,604)

............

133,361,044

U.S.

Government

and

Agency

Securities

27.7%

U.S.

Treasury

Bonds

,

1.125%,

5/15/40

.....................................

United

States

25,000,000

17,873,047

1.125%,

8/15/40

.....................................

United

States

27,400,000

19,463,633

1.75%,

8/15/41

.....................................

United

States

9,900,000

7,738,629

3.125%,

11/15/41

....................................

United

States

12,000,000

11,850,937

2.5%,

5/15/46

......................................

United

States

9,000,000

7,805,742

2.25%,

8/15/46

.....................................

United

States

28,800,000

23,744,250

2.75%,

11/15/47

.....................................

United

States

25,500,000

23,321,045

3.125%,

5/15/48

.....................................

United

States

16,500,000

16,312,764

3%,

8/15/48

........................................

United

States

17,000,000

16,427,578

2.875%,

5/15/49

.....................................

United

States

14,000,000

13,368,633

2.25%,

8/15/49

.....................................

United

States

39,000,000

32,815,605

1.25%,

5/15/50

.....................................

United

States

15,500,000

10,121,621

2.375%,

5/15/51

.....................................

United

States

5,800,000

5,017,340

U.S.

Treasury

Notes

,

2.5%,

4/30/24

......................................

United

States

37,500,000

37,215,820

0.25%,

6/30/25

.....................................

United

States

90,000,000

83,538,281

0.25%,

7/31/25

.....................................

United

States

90,000,000

83,351,953

0.25%,

8/31/25

.....................................

United

States

74,000,000

68,390,742

0.25%,

9/30/25

.....................................

United

States

150,000,000

138,401,367

0.375%,

11/30/25

....................................

United

States

128,000,000

118,172,500

0.375%,

12/31/25

....................................

United

States

41,000,000

37,786,465

l

Index

Linked,

0.625%,

1/15/26

..........................

United

States

35,400,000

44,725,797

0.75%,

5/31/26

.....................................

United

States

2,000,000

1,853,516

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

159

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

U.S.

Government

and

Agency

Securities

(continued)

U.S.

Treasury

Notes,

(continued)

2.75%,

4/30/27

.....................................

United

States

138,300,000

$

138,526,898

3.25%,

6/30/27

.....................................

United

States

22,100,000

22,655,090

1.875%,

2/15/32

.....................................

United

States

96,900,000

90,465,234

2.875%,

5/15/32

.....................................

United

States

4,700,000

4,784,820

Total

U.S.

Government

and

Agency

Securities

(Cost

$1,152,111,319)

..............

1,075,729,307

Asset-Backed

Securities

14.8%

Airlines

0.1%

United

Airlines

Pass-Through

Trust

,

2020-1

,

B

,

4.875

%

,

7/15/27

.

..

United

States

1,194,000

1,135,254

Commercial

Services

&

Supplies

0.1%

e,m

Armada

Euro

CLO

IV

DAC

,

4A

,

B

,

144A,

FRN

,

1.7

%

,

7/15/33

.

....

Ireland

5,100,000

EUR

4,836,760

Diversified

Financial

Services

14.6%

e,h

Adagio

CLO

VIII

DAC

,

VIII-A

,

B1

,

144A,

FRN

,

1.65

%

,

(

3-month

EURIBOR

+

1.65

%

),

4/15/32

.

...........................

Ireland

2,050,000

EUR

1,939,921

e,h

AMMC

CLO

15

Ltd.

,

2014-15A

,

BR3

,

144A,

FRN

,

4.162

%

,

(

3-month

USD

LIBOR

+

1.65

%

),

1/15/32

.

.........................

United

States

945,000

906,019

e,h

AMMC

CLO

21

Ltd.

,

2017-21A

,

C

,

144A,

FRN

,

3.386

%

,

(

3-month

USD

LIBOR

+

2.1

%

),

11/02/30

.

.........................

United

States

1,000,000

939,242

e,h

AMMC

CLO

XI

Ltd.

,

2012-11A,

BR2,

144A,

FRN,

2.886%,

(3-month

USD

LIBOR

+

1.6%),

4/30/31

......................................

United

States

5,050,000

4,767,414

2012-11A,

CR2,

144A,

FRN,

3.186%,

(3-month

USD

LIBOR

+

1.9%),

4/30/31

......................................

United

States

2,750,000

2,537,377

e,h

Antares

CLO

Ltd.

,

2018-1A

,

B

,

144A,

FRN

,

4.36

%

,

(

3-month

USD

LIBOR

+

1.65

%

),

4/20/31

.

.............................

United

States

12,900,000

12,028,433

e,h

Ares

European

CLO

VIII

DAC

,

8A

,

BR

,

144A,

FRN

,

1.602

%

,

(

3-month

EURIBOR

+

1.6

%

),

4/17/32

.

....................

Ireland

2,900,000

EUR

2,759,218

e,h

Ares

XLVIII

CLO

Ltd.

,

2018-48A

,

D

,

144A,

FRN

,

5.41

%

,

(

3-month

USD

LIBOR

+

2.7

%

),

7/20/30

.

..........................

United

States

2,000,000

1,770,095

e,h

Bain

Capital

Credit

CLO

Ltd.

,

2018-1A,

A1,

144A,

FRN,

3.743%,

(3-month

USD

LIBOR

+

0.96%),

4/23/31

.....................................

United

States

12,000,000

11,752,058

2018-1A,

A2,

144A,

FRN,

3.933%,

(3-month

USD

LIBOR

+

1.15%),

4/23/31

.....................................

United

States

5,100,000

4,900,870

2020-4A,

B,

144A,

FRN,

4.66%,

(3-month

USD

LIBOR

+

1.95%),

10/20/33

..........................................

United

States

8,350,000

8,055,095

e,h

BCC

Middle

Market

CLO

LLC

,

2018-1A

,

A2

,

144A,

FRN

,

4.86

%

,

(

3-month

USD

LIBOR

+

2.15

%

),

10/20/30

.

.................

United

States

5,100,000

4,967,845

e,h

Blackrock

European

CLO

IX

DAC

,

9A

,

A

,

144A,

FRN

,

0.9

%

,

(

3-month

EURIBOR

+

0.9

%

),

12/15/32

.

...................

Ireland

17,350,000

EUR

16,980,601

e,h

BlueMountain

CLO

Ltd.

,

2014-2A,

CR2,

144A,

FRN,

4.91%,

(3-month

USD

LIBOR

+

2.2%),

10/20/30

..........................................

United

States

4,700,000

4,411,960

2016-3A,

CR,

144A,

FRN,

3.611%,

(3-month

USD

LIBOR

+

2.2%),

11/15/30

..........................................

United

States

500,000

462,540

2018-1A,

B,

144A,

FRN,

2.986%,

(3-month

USD

LIBOR

+

1.7%),

7/30/30

...........................................

United

States

272,725

257,860

2018-3A,

C,

144A,

FRN,

4.983%,

(3-month

USD

LIBOR

+

2.2%),

10/25/30

..........................................

United

States

1,071,430

1,012,543

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

160

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Asset-Backed

Securities

(continued)

Diversified

Financial

Services

(continued)

e,h

BlueMountain

CLO

XXXIV

Ltd.

,

2022-34A

,

C

,

144A,

FRN

,

3.363

%

,

(

3-month

SOFR

+

2.4

%

),

4/20/35

.

.......................

United

States

12,160,000

$

11,223,347

e,h

BlueMountain

Fuji

EUR

CLO

V

DAC

,

5A

,

B

,

144A,

FRN

,

1.55

%

,

(

3-month

EURIBOR

+

1.55

%

),

1/15/33

.

...................

Ireland

6,250,000

EUR

5,869,379

e,h

BlueMountain

Fuji

US

CLO

III

Ltd.

,

2017-3A,

C,

144A,

FRN,

4.212%,

(3-month

USD

LIBOR

+

1.7%),

1/15/30

...........................................

United

States

2,300,000

2,094,032

2017-3A,

D,

144A,

FRN,

4.912%,

(3-month

USD

LIBOR

+

2.4%),

1/15/30

...........................................

United

States

1,600,000

1,390,358

e,h

Burnham

Park

CLO

Ltd.

,

2016-1A

,

BR

,

144A,

FRN

,

4.21

%

,

(

3-month

USD

LIBOR

+

1.5

%

),

10/20/29

.

.........................

United

States

1,488,189

1,437,112

e,h

Buttermilk

Park

CLO

Ltd.

,

2018-1A

,

C

,

144A,

FRN

,

4.612

%

,

(

3-month

USD

LIBOR

+

2.1

%

),

10/15/31

.

..................

United

States

1,452,380

1,377,291

e,h

Carlyle

Global

Market

Strategies

,

2022-1A

,

C

,

144A,

FRN

,

3.073

%

,

(

3-month

SOFR

+

2.15

%

),

4/15/35

.

......................

United

States

15,330,000

13,890,479

e,h

Carlyle

Global

Market

Strategies

CLO

Ltd.

,

2014-1A,

A1R2,

144A,

FRN,

3.71%,

(3-month

USD

LIBOR

+

0.97%),

4/17/31

.....................................

United

States

722,802

711,057

2014-1A,

A2R2,

144A,

FRN,

3.87%,

(3-month

USD

LIBOR

+

1.13%),

4/17/31

.....................................

United

States

6,300,000

6,123,987

2014-1A,

DR,

144A,

FRN,

5.34%,

(3-month

USD

LIBOR

+

2.6%),

4/17/31

...........................................

United

States

3,175,000

2,700,595

e,h

Carlyle

GMS

Finance

MM

CLO

LLC

,

2015-1A

,

A2R

,

144A,

FRN

,

4.712

%

,

(

3-month

USD

LIBOR

+

2.2

%

),

10/15/31

.

...........

United

States

10,000,000

9,359,651

e,h

Carlyle

US

CLO

Ltd.

,

2017-4A,

C,

144A,

FRN,

5.312%,

(3-month

USD

LIBOR

+

2.8%),

1/15/30

...........................................

United

States

545,000

465,768

2017-5A,

A2,

144A,

FRN,

4.11%,

(3-month

USD

LIBOR

+

1.4%),

1/20/30

...........................................

United

States

2,740,000

2,594,516

2017-5A,

B,

144A,

FRN,

4.51%,

(3-month

USD

LIBOR

+

1.8%),

1/20/30

...........................................

United

States

7,000,000

6,395,153

e,h

Cent

CLO

21

Ltd.

,

2014-21A

,

CR2

,

144A,

FRN

,

5.969

%

,

(

3-month

USD

LIBOR

+

3.2

%

),

7/27/30

.

..........................

United

States

3,123,000

2,864,065

e,h

CIFC

Funding

Ltd.

,

2022-2A

,

A1

,

144A,

FRN

,

3.873

%

,

(

3-month

SOFR

+

1.32

%

),

4/19/35

.

..............................

United

States

23,690,000

22,888,401

e,m

Consumer

Loan

Underlying

Bond

Certificate

Issuer

Trust

I

,

2018-29,

PT,

144A,

FRN,

27.296%,

12/15/43

...............

United

States

207,496

198,526

2019-26,

PT,

144A,

FRN,

17.957%,

8/15/44

................

United

States

1,028,245

988,446

2019-31,

PT,

144A,

FRN,

17.819%,

9/15/44

................

United

States

900,960

855,036

2019-37,

PT,

144A,

FRN,

18.774%,

10/17/44

...............

United

States

1,138,053

1,080,876

2019-42,

PT,

144A,

FRN,

17.951%,

11/15/44

...............

United

States

1,293,280

1,239,390

2019-51,

PT,

144A,

FRN,

15.681%,

1/15/45

................

United

States

1,598,242

1,540,286

2019-52,

PT,

144A,

FRN,

16.325%,

1/15/45

................

United

States

1,690,933

1,638,553

2019-S1,

PT,

144A,

FRN,

15.098%,

4/15/44

................

United

States

381,330

361,463

2019-S2,

PT,

144A,

FRN,

12.5%,

5/16/44

..................

United

States

323,240

305,452

2019-S3,

PT,

144A,

FRN,

13.086%,

6/15/44

................

United

States

556,729

529,484

2019-S4,

PT,

144A,

FRN,

11.589%,

8/15/44

................

United

States

747,323

719,066

2019-S5,

PT,

144A,

FRN,

12.985%,

9/15/44

................

United

States

776,734

745,514

2019-S6,

PT,

144A,

FRN,

11.334%,

10/17/44

...............

United

States

762,634

723,023

2019-S7,

PT,

144A,

FRN,

11.047%,

12/15/44

...............

United

States

771,954

736,818

2019-S8,

PT,

144A,

FRN,

9.937%,

1/15/45

.................

United

States

1,010,336

961,779

2020-2,

PT,

144A,

FRN,

16.464%,

3/15/45

.................

United

States

1,668,236

1,610,203

2020-7,

PT,

144A,

FRN,

15.856%,

4/17/45

.................

United

States

1,062,410

1,010,660

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

161

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Asset-Backed

Securities

(continued)

Diversified

Financial

Services

(continued)

e,h

Cook

Park

CLO

Ltd.

,

2018-1A

,

A2

,

144A,

FRN

,

3.86

%

,

(

3-month

USD

LIBOR

+

1.12

%

),

4/17/30

.

.........................

United

States

6,000,000

$

5,835,729

h

CWABS,

Inc.

,

2004-1

,

M1

,

FRN

,

3.009

%

,

(

1-month

USD

LIBOR

+

0.75

%

),

3/25/34

.

....................................

United

States

157,047

153,191

e,h

Dryden

45

Senior

Loan

Fund

,

2016-45A

,

CR

,

144A,

FRN

,

4.712

%

,

(

3-month

USD

LIBOR

+

2.2

%

),

10/15/30

.

..................

United

States

1,250,000

1,191,973

e,h

Dryden

55

CLO

Ltd.

,

2018-55A

,

D

,

144A,

FRN

,

5.362

%

,

(

3-month

USD

LIBOR

+

2.85

%

),

4/15/31

.

.........................

United

States

2,000,000

1,784,381

e,h

Dryden

97

CLO

Ltd.

,

2022-97A

,

A

,

144A,

FRN

,

2.121

%

,

(

3-month

SOFR

+

1.3

%

),

4/20/35

.

...............................

United

States

17,750,000

17,121,081

e,h

Dryden

Senior

Loan

Fund

,

2022-109A

,

C

,

144A,

FRN

,

3.375

%

,

(

3-month

SOFR

+

2.35

%

),

4/20/35

.

......................

United

States

12,860,000

11,818,297

e,h

Ellington

CLO

III

Ltd.

,

2018-3A,

A1,

144A,

FRN,

4.36%,

(3-month

USD

LIBOR

+

1.65%),

7/20/30

...........................................

United

States

5,123,962

5,109,586

2018-3A,

A2R,

144A,

FRN,

4.46%,

(3-month

USD

LIBOR

+

1.75%),

7/20/30

.....................................

United

States

9,488,818

9,386,996

e

FirstKey

Homes

Trust

,

2020-SFR2

,

A

,

144A,

1.266

%

,

10/19/37

.

...

United

States

11,522,515

10,755,764

e,h

Galaxy

XXVII

CLO

Ltd.

,

2018-27A,

A,

144A,

FRN,

2.431%,

(3-month

USD

LIBOR

+

1.02%),

5/16/31

.....................................

United

States

1,000,000

981,352

2018-27A,

C,

144A,

FRN,

3.211%,

(3-month

USD

LIBOR

+

1.8%),

5/16/31

...........................................

United

States

4,000,000

3,740,317

e,h

Gilbert

Park

CLO

Ltd.

,

2017-1A

,

B

,

144A,

FRN

,

4.112

%

,

(

3-month

USD

LIBOR

+

1.6

%

),

10/15/30

.

.........................

United

States

1,000,000

965,920

e,h

Halcyon

Loan

Advisors

Funding

Ltd.

,

2018-1A

,

A2

,

144A,

FRN

,

4.51

%

,

(

3-month

USD

LIBOR

+

1.8

%

),

7/21/31

.

.............

United

States

4,500,000

4,173,067

e,h

Hayfin

US

XII

Ltd.

,

2018-9A

,

BR

,

144A,

FRN

,

4.593

%

,

(

3-month

USD

LIBOR

+

1.8

%

),

4/28/31

.

..........................

United

States

14,500,000

13,643,919

e,h

Highbridge

Loan

Management

Ltd.

,

2013-2A

,

BR

,

144A,

FRN

,

4.61

%

,

(

3-month

USD

LIBOR

+

1.9

%

),

10/20/29

.

............

United

States

700,000

662,229

e,h

Holland

Park

CLO

DAC

,

1A

,

A1RR

,

144A,

FRN

,

0.92

%

,

(

3-month

EURIBOR

+

0.92

%

),

11/14/32

.

..........................

Ireland

50,450,000

EUR

49,559,870

e

Home

Partners

of

America

Trust

,

2021-2,

B,

144A,

2.302%,

12/17/26

......................

United

States

15,526,450

14,165,692

2021-3,

B,

144A,

2.649%,

1/17/41

.......................

United

States

6,032,787

5,515,183

e,h

HPS

Loan

Management

Ltd.

,

13A-18

,

C

,

144A,

FRN

,

4.662

%

,

(

3-month

USD

LIBOR

+

2.15

%

),

10/15/30

.

.................

United

States

3,000,000

2,834,565

e,h

LCM

26

Ltd.

,

26A,

B,

144A,

FRN,

4.11%,

(3-month

USD

LIBOR

+

1.4%),

1/20/31

...........................................

United

States

2,000,000

1,915,727

26A,

C,

144A,

FRN,

4.51%,

(3-month

USD

LIBOR

+

1.8%),

1/20/31

...........................................

United

States

9,600,000

8,719,462

26A,

D,

144A,

FRN,

5.21%,

(3-month

USD

LIBOR

+

2.5%),

1/20/31

...........................................

United

States

600,000

510,798

e,h

LCM

XVIII

LP

,

18A,

BR,

144A,

FRN,

4.31%,

(3-month

USD

LIBOR

+

1.6%),

4/20/31

...........................................

United

States

1,090,000

1,018,773

18A,

CR,

144A,

FRN,

4.56%,

(3-month

USD

LIBOR

+

1.85%),

4/20/31

...........................................

United

States

2,000,000

1,825,371

e,h

LCM

XXII

Ltd.

,

22A,

A2R,

144A,

FRN,

4.16%,

(3-month

USD

LIBOR

+

1.45%),

10/20/28

..........................................

United

States

1,000,000

948,172

22A,

CR,

144A,

FRN,

5.51%,

(3-month

USD

LIBOR

+

2.8%),

10/20/28

..........................................

United

States

1,000,000

893,200

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

162

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Asset-Backed

Securities

(continued)

Diversified

Financial

Services

(continued)

e,h

Logan

CLO

I

Ltd.

,

2021-1A

,

A

,

144A,

FRN

,

3.87

%

,

(

3-month

USD

LIBOR

+

1.16

%

),

7/20/34

.

.............................

United

States

4,750,000

$

4,594,002

e,h

Long

Point

Park

CLO

Ltd.

,

2017-1A,

A2,

144A,

FRN,

4.115%,

(3-month

USD

LIBOR

+

1.375%),

1/17/30

....................................

United

States

5,800,000

5,525,129

2017-1A,

B,

144A,

FRN,

4.44%,

(3-month

USD

LIBOR

+

1.7%),

1/17/30

...........................................

United

States

2,700,000

2,514,012

e,h

Madison

Park

Euro

Funding

VIII

DAC

,

8A

,

ARR

,

144A,

FRN

,

0.82

%

,

(

3-month

EURIBOR

+

0.82

%

),

4/15/32

.

...................

Ireland

33,550,000

EUR

33,028,638

e,h

Madison

Park

Funding

XIII

Ltd.

,

2014-13A

,

DR2

,

144A,

FRN

,

5.588

%

,

(

3-month

USD

LIBOR

+

2.85

%

),

4/19/30

.

...........

United

States

1,973,000

1,860,438

e,h

Madison

Park

Funding

XLII

Ltd.

,

13A,

B,

144A,

FRN,

4.283%,

(3-month

USD

LIBOR

+

1.5%),

11/21/30

..........................................

United

States

2,700,000

2,593,127

13A,

C,

144A,

FRN,

4.583%,

(3-month

USD

LIBOR

+

1.8%),

11/21/30

..........................................

United

States

3,753,500

3,608,465

e,h

Madison

Park

Funding

XXII

Ltd.

,

2016-22A

,

CR

,

144A,

FRN

,

4.512

%

,

(

3-month

USD

LIBOR

+

2

%

),

1/15/33

.

..............

United

States

7,790,000

7,323,337

e,h

Madison

Park

Funding

XXIX

Ltd.

,

2018-29A

,

C

,

144A,

FRN

,

4.94

%

,

(

3-month

USD

LIBOR

+

2.2

%

),

10/18/30

.

..................

United

States

1,072,581

1,014,668

e,h

Madison

Park

Funding

XXVII

Ltd.

,

2018-27A

,

C

,

144A,

FRN

,

5.31

%

,

(

3-month

USD

LIBOR

+

2.6

%

),

4/20/30

.

...................

United

States

2,125,000

1,891,198

e,h

Madison

Park

Funding

XXXI

Ltd.

,

2018-31A,

B,

144A,

FRN,

4.483%,

(3-month

USD

LIBOR

+

1.7%),

1/23/31

...........................................

United

States

1,500,000

1,436,361

2018-31A,

C,

144A,

FRN,

4.933%,

(3-month

USD

LIBOR

+

2.15%),

1/23/31

.....................................

United

States

650,000

621,872

e,h

Magnetite

VII

Ltd.

,

2012-7A

,

CR2

,

144A,

FRN

,

4.562

%

,

(

3-month

USD

LIBOR

+

2.05

%

),

1/15/28

.

.........................

United

States

2,000,000

1,834,403

e,h

Neuberger

Berman

CLO

XVIII

Ltd.

,

2014-18A

,

A1BR

,

144A,

FRN

,

4.132

%

,

(

3-month

USD

LIBOR

+

1.4

%

),

10/21/30

.

...........

United

States

1,700,000

1,660,965

e,h

Neuberger

Berman

CLO

XVI-S

Ltd.

,

2017-16SA,

CR,

144A,

FRN,

4.412%,

(3-month

USD

LIBOR

+

1.9%),

4/15/34

......................................

United

States

2,350,000

2,173,436

2017-16SA,

DR,

144A,

FRN,

5.412%,

(3-month

USD

LIBOR

+

2.9%),

4/15/34

......................................

United

States

650,000

580,796

e,h

Neuberger

Berman

Loan

Advisers

CLO

27

Ltd.

,

2018-27A

,

C

,

144A,

FRN

,

4.212

%

,

(

3-month

USD

LIBOR

+

1.7

%

),

1/15/30

.

........

United

States

4,900,000

4,606,680

e

New

Economy

Assets

Phase

1

Sponsor

LLC

,

2021-1

,

A1

,

144A,

1.91

%

,

10/20/61

.

....................................

United

States

19,400,000

17,157,666

e,h

Octagon

Investment

Partners

18-R

Ltd.

,

2018-18A

,

C

,

144A,

FRN

,

5.44

%

,

(

3-month

USD

LIBOR

+

2.7

%

),

4/16/31

.

.............

United

States

9,050,000

7,887,789

e,h

Octagon

Investment

Partners

33

Ltd.

,

2017-1A,

A2,

144A,

FRN,

4.21%,

(3-month

USD

LIBOR

+

1.5%),

1/20/31

...........................................

United

States

400,000

383,709

2017-1A,

C,

144A,

FRN,

5.46%,

(3-month

USD

LIBOR

+

2.75%),

1/20/31

...........................................

United

States

2,800,000

2,559,075

e,h

Octagon

Investment

Partners

35

Ltd.

,

2018-1A,

A1B,

144A,

FRN,

3.81%,

(3-month

USD

LIBOR

+

1.1%),

1/20/31

...........................................

United

States

3,325,000

3,196,868

2018-1A,

B,

144A,

FRN,

4.41%,

(3-month

USD

LIBOR

+

1.7%),

1/20/31

...........................................

United

States

450,000

422,470

e,h

Octagon

Investment

Partners

36

Ltd.

,

2018-1A,

A1,

144A,

FRN,

3.482%,

(3-month

USD

LIBOR

+

0.97%),

4/15/31

.....................................

United

States

18,000,000

17,677,246

2018-1A,

A2,

144A,

FRN,

3.712%,

(3-month

USD

LIBOR

+

1.2%),

4/15/31

...........................................

United

States

8,500,000

8,291,598

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

163

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Asset-Backed

Securities

(continued)

Diversified

Financial

Services

(continued)

e,h

Octagon

Investment

Partners

37

Ltd.

,

2018-2A

,

C

,

144A,

FRN

,

5.633

%

,

(

3-month

USD

LIBOR

+

2.85

%

),

7/25/30

.

...........

United

States

2,000,000

$

1,825,645

e,h

Octagon

Investment

Partners

38

Ltd.

,

2018-1A

,

C

,

144A,

FRN

,

5.66

%

,

(

3-month

USD

LIBOR

+

2.95

%

),

7/20/30

.

............

United

States

4,000,000

3,613,482

e,h

Octagon

Investment

Partners

XVII

Ltd.

,

2013-1A,

BR2,

144A,

FRN,

4.183%,

(3-month

USD

LIBOR

+

1.4%),

1/25/31

......................................

United

States

4,020,000

3,763,369

2013-1A,

CR2,

144A,

FRN,

4.483%,

(3-month

USD

LIBOR

+

1.7%),

1/25/31

......................................

United

States

5,250,000

4,708,847

e,h

Octagon

Loan

Funding

Ltd.

,

2014-1A

,

CRR

,

144A,

FRN

,

3.655

%

,

(

3-month

USD

LIBOR

+

2.2

%

),

11/18/31

.

..................

United

States

750,000

709,321

e,h

Palmer

Square

CLO

Ltd.

,

2021-2A

,

A

,

144A,

FRN

,

3.662

%

,

(

3-month

USD

LIBOR

+

1.15

%

),

7/15/34

.

.........................

United

States

1,000,000

967,753

e,h

Pikes

Peak

CLO

6

,

2020-6A

,

AR2

,

144A,

FRN

,

2.625

%

,

(

3-month

USD

LIBOR

+

1.17

%

),

5/18/34

.

.........................

United

States

4,500,000

4,359,703

e,m

Prosper

Pass-Thru

Trust

III

,

2020-PT1,

A,

144A,

FRN,

18.702%,

3/15/26

................

United

States

973,368

980,558

2020-PT2,

A,

144A,

FRN,

13.552%,

4/15/26

................

United

States

1,195,030

1,169,809

2020-PT3,

A,

144A,

FRN,

15.099%,

5/15/26

................

United

States

366,883

354,093

e,h

Race

Point

X

CLO

Ltd.

,

2016-10A

,

B1R

,

144A,

FRN

,

4.433

%

,

(

3-month

USD

LIBOR

+

1.65

%

),

7/25/31

.

..................

United

States

3,600,000

3,443,773

e,h

Sound

Point

CLO

V-R

Ltd.

,

2014-1RA

,

D

,

144A,

FRN

,

5.84

%

,

(

3-month

USD

LIBOR

+

3.1

%

),

7/18/31

.

...................

United

States

5,780,000

5,030,798

e,h

Strata

CLO

I

Ltd.

,

2018-1A

,

B

,

144A,

FRN

,

4.712

%

,

(

3-month

USD

LIBOR

+

2.2

%

),

1/15/31

.

..............................

United

States

11,000,000

10,733,282

e,h

TCI-Flatiron

CLO

Ltd.

,

2017-1A,

B,

144A,

FRN,

3.004%,

(3-month

USD

LIBOR

+

1.56%),

11/18/30

..........................................

United

States

3,500,000

3,362,807

2017-1A,

C,

144A,

FRN,

3.294%,

(3-month

USD

LIBOR

+

1.85%),

11/18/30

..........................................

United

States

2,800,000

2,667,000

e,h

TICP

CLO

VI

Ltd.

,

2016-6A

,

AR2

,

144A,

FRN

,

3.632

%

,

(

3-month

USD

LIBOR

+

1.12

%

),

1/15/34

.

.........................

United

States

9,200,000

8,933,259

e,m

Upgrade

Master

Pass-Thru

Trust

,

2019-PT1,

A,

144A,

FRN,

11.815%,

6/15/25

................

United

States

250,389

226,952

2019-PT2,

A,

144A,

FRN,

13.634%,

2/15/26

................

United

States

830,720

833,298

e,h

Voya

CLO

Ltd.

,

2013-2A,

CR,

144A,

FRN,

5.533%,

(3-month

USD

LIBOR

+

2.75%),

4/25/31

.....................................

United

States

1,650,000

1,465,510

2014-1A,

BR2,

144A,

FRN,

4.381%,

(3-month

USD

LIBOR

+

1.9%),

4/18/31

......................................

United

States

1,000,000

944,993

2014-1A,

CR2,

144A,

FRN,

5.281%,

(3-month

USD

LIBOR

+

2.8%),

4/18/31

......................................

United

States

3,750,000

3,168,270

2016-3A,

CR,

144A,

FRN,

5.99%,

(3-month

USD

LIBOR

+

3.25%),

10/18/31

..........................................

United

States

2,547,170

2,274,519

2018-2A,

A2,

144A,

FRN,

3.762%,

(3-month

USD

LIBOR

+

1.25%),

7/15/31

.....................................

United

States

1,500,000

1,443,722

2018-2A,

C1,

144A,

FRN,

4.362%,

(3-month

USD

LIBOR

+

1.85%),

7/15/31

.....................................

United

States

700,000

636,790

e,h

Webster

Park

CLO

Ltd.

,

2015-1A

,

BR

,

144A,

FRN

,

4.51

%

,

(

3-month

USD

LIBOR

+

1.8

%

),

7/20/30

.

..........................

United

States

2,000,000

1,869,647

566,240,620

a

a

a

a

a

a

Road

&

Rail

0.0%

†

Union

Pacific

Railroad

Co.

Pass-Through

Trust

,

2005-1

,

Senior

Bond

,

5.082

%

,

1/02/29

.

...............................

United

States

47,533

49,109

Total

Asset-Backed

Securities

(Cost

$615,012,809)

..............................

572,261,743

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

164

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Commercial

Mortgage-Backed

Securities

1.2%

Diversified

Financial

Services

1.2%

e,h

BX

Commercial

Mortgage

Trust

,

2021-VOLT

,

B

,

144A,

FRN

,

2.949

%

,

(

1-month

USD

LIBOR

+

0.95

%

),

9/15/36

..................

United

States

9,840,000

$

9,322,764

e,h

BX

Mortgage

Trust

,

2021-PAC

,

B

,

144A,

FRN

,

2.899

%

,

(

1-month

USD

LIBOR

+

0.899

%

),

10/15/36

........................

United

States

9,220,000

8,685,218

e,h

BX

Trust

,

2022-IND

,

A

,

144A,

FRN

,

3.592

%

,

(

1-month

SOFR

+

1.491

%

),

4/15/37

....................................

United

States

15,340,000

15,035,329

m

Commercial

Mortgage

Trust

,

2006-GG7

,

AJ

,

FRN

,

6.012

%

,

7/10/38

United

States

1,576,925

1,262,328

e,h

DBCG

Mortgage

Trust

,

2017-BBG

,

A

,

144A,

FRN

,

2.7

%

,

(

1-month

USD

LIBOR

+

0.7

%

),

6/15/34

...........................

United

States

9,840,000

9,673,918

e,m

Eleven

Madison

Mortgage

Trust

,

2015-11MD

,

A

,

144A,

FRN

,

3.555

%

,

9/10/35

.....................................

United

States

3,255,000

3,161,003

47,140,560

a

a

a

a

a

a

Thrifts

&

Mortgage

Finance

0.0%

†

h

FNMA

,

2005-122

,

FN

,

FRN

,

2.609

%

,

(

1-month

USD

LIBOR

+

0.35

%

),

1/25/36

.....................................

United

States

380,188

377,058

b

Weyerhaeuser

Mortgage

Co.

of

Texas

,

1984-A

,

7.43

%

,

1/01/24

...

United

States

3,455

3,455

380,513

a

a

a

a

a

a

Total

Commercial

Mortgage-Backed

Securities

(Cost

$49,366,813)

................

47,521,073

Mortgage-Backed

Securities

14.2%

n

Federal

Home

Loan

Mortgage

Corp.

(FHLMC)

Adjustable

Rate

0.0%

†

FHLMC,

1.628%,

(COFI

11th

District

+/-

MBS

Margin),

11/01/27

..

United

States

564,566

550,495

Federal

Home

Loan

Mortgage

Corp.

(FHLMC)

Fixed

Rate

3.6%

FHLMC

Gold

Pool,

15

Year,

5.5%,

11/01/22

..................

United

States

1,254

1,255

FHLMC

Gold

Pool,

15

Year,

6%,

8/01/22

-

9/01/22

.............

United

States

1,016

1,016

FHLMC

Gold

Pool,

30

Year,

4.5%,

3/01/39

..................

United

States

609,499

637,502

FHLMC

Gold

Pool,

30

Year,

5%,

8/01/33

-

2/01/39

.............

United

States

3,913,863

4,157,834

FHLMC

Gold

Pool,

30

Year,

5.5%,

1/01/35

-

12/01/37

..........

United

States

338,209

363,123

FHLMC

Gold

Pool,

30

Year,

6%,

5/01/33

-

4/01/38

.............

United

States

462,777

502,677

FHLMC

Gold

Pool,

30

Year,

6.5%,

8/01/25

-

3/01/39

...........

United

States

416,357

443,844

FHLMC

Gold

Pool,

30

Year,

7%,

1/01/28

-

7/01/32

.............

United

States

27,686

29,508

FHLMC

Gold

Pool,

30

Year,

7.5%,

3/01/32

..................

United

States

7,416

8,205

FHLMC

Gold

Pool,

30

Year,

8%,

2/01/30

....................

United

States

8,204

8,732

FHLMC

Gold

Pool,

30

Year,

8.5%,

10/01/24

-

8/01/30

..........

United

States

1,818

1,920

FHLMC

Pool,

15

Year,

2%,

2/01/36

-

6/01/37

.................

United

States

18,660,178

17,766,592

FHLMC

Pool,

15

Year,

2.5%,

4/01/37

.......................

United

States

2,821,158

2,747,837

FHLMC

Pool,

15

Year,

3%,

6/01/37

........................

United

States

4,647,182

4,618,387

o

FHLMC

Pool,

30

Year,

2%,

1/01/52

........................

United

States

60,158,016

54,160,061

FHLMC

Pool,

30

Year,

2%,

12/01/51

-

2/01/52

................

United

States

6,305,325

5,682,338

FHLMC

Pool,

30

Year,

4%,

8/01/52

........................

United

States

46,553,000

46,857,854

FHLMC

Pool,

30

Year,

4.5%,

7/01/52

.......................

United

States

1,096,214

1,116,873

139,105,558

n

Federal

National

Mortgage

Association

(FNMA)

Adjustable

Rate

0.1%

FNMA,

1.845%

-

2.15%,

(12-month

USD

LIBOR

+/-

MBS

Margin),

2/01/34

-

3/01/37

....................................

United

States

344,841

346,713

FNMA,

2.176%,

(6-month

USD

LIBOR

+/-

MBS

Margin),

10/01/32

.

United

States

53,949

53,593

FNMA,

2.602%,

(3-year

CMT

T-Note

+/-

MBS

Margin),

12/01/24

..

United

States

1,628

1,627

FNMA,

2.279%

-

3.811%,

(1-year

CMT

T-Note

+/-

MBS

Margin),

5/01/25

-

10/01/36

...................................

United

States

62,261

62,188

FNMA,

1.685%

-

4.103%,

(COFI

11th

District

+/-

MBS

Margin),

12/01/27

-

9/01/34

...................................

United

States

1,265,925

1,247,848

1,711,969

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

165

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Mortgage-Backed

Securities

(continued)

Federal

National

Mortgage

Association

(FNMA)

Fixed

Rate

10.0%

FNMA,

15

Year,

2%,

4/01/37

-

6/01/37

......................

United

States

16,527,741

$

15,736,216

FNMA,

15

Year,

2.5%,

4/01/37

...........................

United

States

662,352

645,138

FNMA,

15

Year,

5.5%,

12/01/22

...........................

United

States

5,440

5,442

FNMA,

30

Year,

2%,

1/01/52

-

2/01/52

......................

United

States

22,881,209

20,607,845

FNMA,

30

Year,

3.5%,

4/01/52

...........................

United

States

5,180,971

5,130,265

o

FNMA,

30

Year,

4.5%,

7/01/52

...........................

United

States

4,997,350

5,100,144

FNMA,

30

Year,

5%,

6/01/36

-

5/01/39

......................

United

States

754,082

795,381

FNMA,

30

Year,

5.5%,

6/01/33

-

8/01/37

....................

United

States

2,792,416

2,941,919

FNMA,

30

Year,

6%,

9/01/32

-

9/01/38

......................

United

States

2,920,554

3,173,978

FNMA,

30

Year,

6.5%,

8/01/28

-

5/01/37

....................

United

States

99,127

106,179

FNMA,

30

Year,

7%,

11/01/25

............................

United

States

1,561

1,562

FNMA,

30

Year,

7.5%,

1/01/30

...........................

United

States

6,118

6,696

FNMA,

30

Year,

8.5%,

4/01/30

-

5/01/32

....................

United

States

25,837

28,328

FNMA,

30

Year,

9%,

5/01/27

.............................

United

States

460

459

p

FNMA,

Single-family,

30

Year,

4%,

8/25/52

..................

United

States

116,582,000

117,196,788

p

FNMA,

Single-family,

30

Year,

4.5%,

8/25/52

.................

United

States

213,865,000

217,649,408

389,125,748

n

Government

National

Mortgage

Association

(GNMA)

Adjustable

Rate

0.0%

†

GNMA

II,

1.75%

-

2.625%,

(1-year

CMT

T-Note

+/-

MBS

Margin),

1/20/23

-

10/20/26

...................................

United

States

9,498

9,402

9,402

Government

National

Mortgage

Association

(GNMA)

Fixed

Rate

0.5%

GNMA

I,

30

Year,

7%,

10/15/27

-

6/15/31

....................

United

States

9,892

10,832

GNMA

I,

Single-family,

30

Year,

6%,

1/15/39

.................

United

States

60,389

66,049

GNMA

I,

Single-family,

30

Year,

6.5%,

10/15/31

-

7/15/38

........

United

States

10,160

10,725

GNMA

I,

Single-family,

30

Year,

7%,

3/15/28

-

4/15/28

..........

United

States

4,933

4,983

GNMA

I,

Single-family,

30

Year,

7.5%,

8/15/22

-

2/15/26

........

United

States

3,682

3,744

GNMA

I,

Single-family,

30

Year,

9%,

9/15/25

.................

United

States

18

18

GNMA

II,

Single-family,

30

Year,

2%,

4/20/52

-

6/20/52

.........

United

States

13,015,999

11,964,328

GNMA

II,

Single-family,

30

Year,

2.5%,

6/20/52

...............

United

States

5,435,309

5,155,158

GNMA

II,

Single-family,

30

Year,

3%,

10/20/49

-

6/20/52

........

United

States

1,571,117

1,531,992

GNMA

II,

Single-family,

30

Year,

6%,

5/20/31

.................

United

States

1,521

1,624

GNMA

II,

Single-family,

30

Year,

6.5%,

3/20/28

-

7/20/38

........

United

States

173,389

192,594

GNMA

II,

Single-family,

30

Year,

7.5%,

8/20/30

-

1/20/33

........

United

States

23,115

24,651

18,966,698

Total

Mortgage-Backed

Securities

(Cost

$539,730,697)

...........................

549,469,870

Municipal

Bonds

6.0%

California

2.7%

California

Health

Facilities

Financing

Authority

,

State

of

California

Personal

Income

Tax,

Revenue,

Senior

Lien,

2019,

2.934%,

6/01/32

..............................

United

States

6,810,000

6,269,040

State

of

California

Personal

Income

Tax,

Revenue,

Senior

Lien,

2019,

2.984%,

6/01/33

..............................

United

States

5,870,000

5,361,003

State

of

California

Personal

Income

Tax,

Revenue,

Senior

Lien,

2019,

3.034%,

6/01/34

..............................

United

States

4,445,000

4,031,061

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

166

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Municipal

Bonds

(continued)

California

(continued)

California

Municipal

Finance

Authority

,

United

States

General

Services

Administration

,

Revenue

,

2020

,

2.519

%

,

10/01/35

....

United

States

9,810,000

$

7,810,587

California

State

University

,

Revenue

,

2021

B

,

Refunding

,

2.719

%

,

11/01/52

..........................................

United

States

7,445,000

5,670,626

Clovis

Unified

School

District

,

GO

,

2021

B

,

Refunding

,

3.067

%

,

8/01/39

...........................................

United

States

1,500,000

1,247,389

Foothill-Eastern

Transportation

Corridor

Agency

,

Revenue

,

2019

A

,

Refunding

,

4.094

%

,

1/15/49

............................

United

States

3,470,000

3,034,848

Gilroy

Unified

School

District

,

GO

,

2019

,

Refunding

,

3.364

%

,

8/01/47

United

States

7,220,000

5,884,622

Golden

State

Tobacco

Securitization

Corp.

,

Revenue

,

2021

B-1

,

Refunding

,

3.85

%

,

6/01/50

.............................

United

States

20,900,000

19,328,261

Regents

of

the

University

of

California

,

Medical

Center

,

Revenue

,

2022

Q

,

4.563

%

,

5/15/53

..............................

United

States

6,400,000

6,506,940

San

Bernardino

Community

College

District

,

GO,

2021,

Refunding,

2.686%,

8/01/41

...................

United

States

20,405,000

15,613,300

GO,

2021,

Refunding,

2.856%,

8/01/49

...................

United

States

11,880,000

8,669,382

San

Jose

Redevelopment

Agency

Successor

Agency

,

Tax

Allocation,

Senior

Lien

,

2017

A-T

,

Refunding

,

3.226

%

,

8/01/27

..........

United

States

6,150,000

6,031,360

State

of

California

,

GO

,

2017

,

Refunding

,

4

%

,

11/01/33

.........

United

States

250,000

266,916

University

of

California

,

Revenue

,

2015

J

,

Refunding

,

4.131

%

,

5/15/45

...........................................

United

States

10,750,000

10,320,768

106,046,103

Florida

0.2%

County

of

Broward

,

Airport

System

,

Revenue

,

2019

C

,

Refunding

,

3.477

%

,

10/01/43

....................................

United

States

7,145,000

6,201,105

Illinois

0.3%

Chicago

Transit

Authority

Sales

&

Transfer

Tax

Receipts

,

Revenue

,

2008

A

,

6.899

%

,

12/01/40

.............................

United

States

800,000

971,817

State

of

Illinois

,

GO

,

2003

,

5.1

%

,

6/01/33

...................

United

States

9,035,000

9,225,778

10,197,595

Louisiana

0.0%

†

City

of

New

Orleans

,

Sewerage

Service,

Revenue,

2021,

Refunding,

AGMC

Insured,

1.791%,

6/01/30

...................................

United

States

1,300,000

1,090,839

Water

System,

Revenue,

2021,

Refunding,

AGMC

Insured,

1.841%,

12/01/30

..................................

United

States

1,400,000

1,164,519

2,255,358

Massachusetts

0.3%

Commonwealth

of

Massachusetts

,

GO

,

2020

C

,

Refunding

,

2.514

%

,

7/01/41

...........................................

United

States

700,000

544,301

Massachusetts

School

Building

Authority

,

Revenue,

2019

B,

Refunding,

3.395%,

10/15/40

.............

United

States

6,760,000

5,878,693

Revenue,

Senior

Lien,

2016

C,

Refunding,

4%,

11/15/35

......

United

States

150,000

156,374

Massachusetts

State

College

Building

Authority

,

Revenue

,

2019

C

,

Refunding

,

3.373

%

,

5/01/43

............................

United

States

5,900,000

4,990,268

11,569,636

Minnesota

0.1%

State

of

Minnesota

,

GO

,

2013

F

,

Refunding

,

4

%

,

10/01/24

.......

United

States

5,760,000

5,936,725

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

167

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Municipal

Bonds

(continued)

New

Jersey

0.1%

New

Jersey

Transportation

Trust

Fund

Authority

,

Revenue

,

2019

B

,

Refunding

,

4.131

%

,

6/15/42

............................

United

States

4,060,000

$

3,626,309

New

York

0.5%

Metropolitan

Transportation

Authority

,

Revenue

,

2020

E

,

Refunding

,

4

%

,

11/15/45

.......................................

United

States

6,820,000

6,628,145

New

York

State

Dormitory

Authority

,

State

University

of

New

York

Dormitory

Facilities

,

Revenue

,

2019

B

,

Refunding

,

3.142

%

,

7/01/43

...........................................

United

States

3,605,000

3,055,028

Port

Authority

of

New

York

&

New

Jersey

,

Revenue,

191,

4.823%,

6/01/45

.........................

United

States

4,570,000

4,593,888

Revenue,

192,

4.81%,

10/15/65

.........................

United

States

5,000,000

5,368,768

19,645,829

Ohio

0.4%

Greenville

City

School

District

,

GO

,

2019

,

Refunding

,

3.541

%

,

1/01/51

...........................................

United

States

16,585,000

13,821,098

State

of

Ohio

,

Cleveland

Clinic

Health

System

Obligated

Group

,

Revenue

,

2019

G

,

Refunding

,

3.276

%

,

1/01/42

.............

United

States

2,265,000

1,916,546

15,737,644

Oregon

0.0%

†

City

of

Beaverton

,

Water

,

Revenue

,

2020

,

5

%

,

4/01/33

.........

United

States

250,000

292,190

City

of

Portland

,

Water

System

,

Revenue,

First

Lien

,

2016

A

,

Refunding

,

4

%

,

4/01/32

...............................

United

States

265,000

279,398

571,588

Pennsylvania

0.7%

Commonwealth

Financing

Authority

,

Revenue

,

2021

A

,

2.991

%

,

6/01/42

...........................................

United

States

25,975,000

20,921,452

University

of

Pittsburgh-of

the

Commonwealth

System

of

Higher

Education

,

Revenue

,

2017

C

,

Refunding

,

3.005

%

,

9/15/41

.....

United

States

6,315,000

5,258,183

26,179,635

Texas

0.5%

City

of

Austin

,

Electric

Utility,

Revenue,

2008,

Refunding,

AGMC

Insured,

6.262%,

11/15/32

.........................................

United

States

12,050,000

13,793,514

Electric

Utility,

Revenue,

2019

C,

Refunding,

2.785%,

11/15/31

..

United

States

370,000

342,351

San

Antonio

Water

System

,

Revenue

,

2010

B

,

5.92

%

,

5/15/40

...

United

States

250,000

298,063

Texas

State

University

System

,

Revenue,

2019

B,

Refunding,

2.938%,

3/15/33

..............

United

States

2,655,000

2,463,109

Revenue,

2019

B,

Refunding,

3.289%,

3/15/40

..............

United

States

2,255,000

2,016,358

18,913,395

Utah

0.2%

City

of

Salt

Lake

City

,

Sales

and

Excise

Tax

,

Revenue

,

2019

B

,

Refunding

,

3.102

%

,

4/01/38

............................

United

States

3,155,000

2,834,903

Utah

Transit

Authority

,

Revenue,

Senior

Lien

,

2019

B

,

Refunding

,

3.443

%

,

12/15/42

....................................

United

States

4,510,000

3,875,503

6,710,406

Total

Municipal

Bonds

(Cost

$264,900,268)

.....................................

233,591,328

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

168

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Residential

Mortgage-Backed

Securities

4.7%

Capital

Markets

0.0%

†

h

Merrill

Lynch

Mortgage

Investors

Trust

,

2003-A

,

1A

,

FRN

,

2.999

%

,

(

1-month

USD

LIBOR

+

0.74

%

),

3/25/28

..................

United

States

264,925

$

256,740

Diversified

Financial

Services

3.0%

e

BRAVO

Residential

Funding

Trust

,

2019-1,

A1C,

144A,

3.5%,

3/25/58

.......................

United

States

2,943,205

2,917,277

m

2019-2,

A3,

144A,

FRN,

3.5%,

10/25/44

...................

United

States

5,198,081

5,023,990

e,m

CIM

Trust

,

2018-INV1,

A4,

144A,

FRN,

4%,

8/25/48

..................

United

States

1,412,648

1,395,935

2019-INV1,

A1,

144A,

FRN,

4%,

2/25/49

..................

United

States

977,511

963,939

2019-INV2,

A3,

144A,

FRN,

4%,

5/25/49

..................

United

States

2,342,159

2,303,356

e,m

Citigroup

Mortgage

Loan

Trust

,

2013-A

,

A

,

144A,

FRN

,

3

%

,

5/25/42

United

States

191,050

186,385

e,m

COLT

Mortgage

Loan

Trust

,

2022-4

,

A1

,

144A,

FRN

,

4.301

%

,

3/25/67

...........................................

United

States

3,566,255

3,502,882

Credit

Suisse

First

Boston

Mortgage

Securities

Corp.

,

2004-6

,

3A1

,

5

%

,

1

/25/

38

........................................

Switzerland

76,231

50,867

e,h

FHLMC

STACR

REMIC

Trust

,

2020-DNA1,

M2,

144A,

FRN,

3.959%,

(1-month

USD

LIBOR

+

1.7%),

1/25/50

......................................

United

States

2,325,491

2,305,591

2022-DNA3,

M1A,

144A,

FRN,

3.514%,

(30-day

SOFR

Average

+

2%),

4/25/42

.......................................

United

States

7,239,904

7,207,467

e,m

J.P.

Morgan

Mortgage

Trust

,

2021-13,

A4,

144A,

FRN,

2.5%,

4/25/52

...................

United

States

17,323,182

16,120,148

2021-14,

A4,

144A,

FRN,

2.5%,

5/25/52

...................

United

States

13,985,338

13,014,105

2021-15,

A4,

144A,

FRN,

2.5%,

6/25/52

...................

United

States

8,001,170

7,445,517

e,m

Mill

City

Mortgage

Loan

Trust

,

2018-4

,

A1B

,

144A,

FRN

,

3.492

%

,

4/25/66

...........................................

United

States

7,080,767

6,933,717

e,m

OBX

Trust

,

2021-J3

,

A4

,

144A,

FRN

,

2.5

%

,

10/25/51

...........

United

States

3,523,250

3,268,293

e,m

Provident

Funding

Associates

LLP

,

2021-J1

,

A3

,

144A,

FRN

,

2.5

%

,

2/20/49

...........................................

United

States

11,218,134

10,406,344

e,m

Provident

Funding

Mortgage

Trust

,

2019-1

,

A2

,

144A,

FRN

,

3

%

,

12/25/49

..........................................

United

States

1,933,853

1,769,006

e,m

PSMC

Trust

,

2021-3

,

A3

,

144A,

FRN

,

2.5

%

,

8/25/51

...........

United

States

20,607,902

19,176,756

e,m

Towd

Point

Mortgage

Trust

,

2017-1,

A1,

144A,

FRN,

2.75%,

10/25/56

..................

United

States

1,326,168

1,317,717

2017-1,

A2,

144A,

FRN,

3.5%,

10/25/56

...................

United

States

8,862,000

8,713,624

2017-2,

A1,

144A,

FRN,

2.75%,

4/25/57

...................

United

States

614,453

610,272

114,633,188

a

a

a

a

a

a

Thrifts

&

Mortgage

Finance

1.7%

h

FHLMC

Structured

Agency

Credit

Risk

Debt

Notes

,

2014-DN3,

M3,

FRN,

6.259%,

(1-month

USD

LIBOR

+

4%),

8/25/24

...........................................

United

States

3,152,627

3,204,952

2014-DN4,

M3,

FRN,

6.809%,

(1-month

USD

LIBOR

+

4.55%),

10/25/24

..........................................

United

States

1,475,885

1,502,314

2015-DNA2,

M3,

FRN,

6.159%,

(1-month

USD

LIBOR

+

3.9%),

12/25/27

..........................................

United

States

25,108

25,126

2015-DNA3,

M3,

FRN,

6.959%,

(1-month

USD

LIBOR

+

4.7%),

4/25/28

...........................................

United

States

1,447,547

1,505,965

2015-HQ2,

M3,

FRN,

5.509%,

(1-month

USD

LIBOR

+

3.25%),

5/25/25

...........................................

United

States

1,093,544

1,099,495

2016-DNA1,

M3,

FRN,

7.809%,

(1-month

USD

LIBOR

+

5.55%),

7/25/28

...........................................

United

States

9,205,958

9,662,320

2016-DNA2,

M3,

FRN,

6.909%,

(1-month

USD

LIBOR

+

4.65%),

10/25/28

..........................................

United

States

12,136,841

12,683,455

2016-HQA2,

M3,

FRN,

7.409%,

(1-month

USD

LIBOR

+

5.15%),

11/25/28

..........................................

United

States

12,703,738

13,176,499

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

169

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Residential

Mortgage-Backed

Securities

(continued)

Thrifts

&

Mortgage

Finance

(continued)

h

FNMA

Connecticut

Avenue

Securities

,

2013-C01,

M2,

FRN,

7.509%,

(1-month

USD

LIBOR

+

5.25%),

10/25/23

..........................................

United

States

3,003,410

$

3,099,527

2014-C02,

2M2,

FRN,

4.859%,

(1-month

USD

LIBOR

+

2.6%),

5/25/24

...........................................

United

States

1,985,878

1,993,111

2014-C03,

2M2,

FRN,

5.159%,

(1-month

USD

LIBOR

+

2.9%),

7/25/24

...........................................

United

States

588,173

591,439

2014-C04,

1M2,

FRN,

7.159%,

(1-month

USD

LIBOR

+

4.9%),

11/25/24

..........................................

United

States

6,847,337

7,091,159

2014-C04,

2M2,

FRN,

7.259%,

(1-month

USD

LIBOR

+

5%),

11/25/24

..........................................

United

States

308,026

311,244

2016-C02,

1M2,

FRN,

8.259%,

(1-month

USD

LIBOR

+

6%),

9/25/28

...........................................

United

States

6,123,473

6,385,442

2016-C03,

1M2,

FRN,

7.559%,

(1-month

USD

LIBOR

+

5.3%),

10/25/28

..........................................

United

States

2,999,032

3,114,592

65,446,640

a

a

a

a

a

a

Total

Residential

Mortgage-Backed

Securities

(Cost

$192,678,805)

................

180,336,568

Shares

a

Escrows

and

Litigation

Trusts

0.0%

†

a,b

K2016470219

South

Africa

Ltd.,

Escrow

Account

..............

South

Africa

141,599

—

a

Mesquite

Energy,

Inc.,

Escrow

Account

.....................

United

States

3,000,000

63,750

a,b

Millennium

Corporate

Claim

Trust,

Escrow

Account

............

United

States

73,753

—

a,b

Millennium

Lender

Claim

Trust,

Escrow

Account

..............

United

States

73,753

—

Total

Escrows

and

Litigation

Trusts

(Cost

$2,814,454)

...........................

63,750

Total

Long

Term

Investments

(Cost

$4,400,582,173)

.............................

4,054,321,763

a

Number

of

Contracts

Notional

Amount

#

a

a

aa

Options

Purchased

0.1%

Calls

-

Over-the-Counter

Credit

Default

Swaptions

0.0%

†

Buy

protection

on

CDX.NA.HY.38-V2,

Premium

Rate

0.00%,

Strike

Price

$100.50,

Counterparty

DBAB,

Expires

10/19/22

.........

1

32,750,000

507,543

Puts

-

Over-the-Counter

Currency

Options

Foreign

Exchange

EUR/NOK,

Counterparty

GSCO,

October

Strike

Price

9.37

NOK,

Expires

10/20/22

.......................

1

16,723,000

EUR

37,704

Interest

Rate

Swaptions

0.1%

Receive

Floating

1-day

SOFR,

Pay

Fixed

2.89%,

Counterparty

CITI,

Expires

1/30/23

.....................................

1

206,500,000

1,571,333

1,609,037

Total

Options

Purchased

(Cost

$2,300,998)

.....................................

2,116,580

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

170

Short

Term

Investments

3.4%

a

a

Country

Shares

a

Value

a

a

a

Money

Market

Funds

3.4%

d,q

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

1.445%

....

United

States

131,804,631

$

131,804,631

Total

Money

Market

Funds

(Cost

$131,804,631)

.................................

131,804,631

Total

Short

Term

Investments

(Cost

$131,804,631

)

...............................

131,804,631

a

Total

Investments

(Cost

$4,534,687,802)

108.1%

................................

$4,188,242,974

Options

Written

(0.0)%

†

......................................................

(209,351)

Other

Assets,

less

Liabilities

(8.1)%

...........................................

(311,040,724)

Net

Assets

100.0%

...........................................................

$3,876,992,899

Number

of

Contracts

Notional

Amount

#

a

a

a

Options

Written

(0.0)%

†

Puts

-

Over-the-Counter

Credit

Default

Swaptions

(0.0)%

†

Sell

protection

on

CDX.NA.HY.38-V2,

Premium

Rate

0%,

Strike

Price

$94.00,

Counterparty

DBAB,

Expires

10/19/22

..............

1

(32,750,000)

(209,351)

(209,351)

Total

Options

Written

(Premiums

received

$342,381)

............................

$

(209,351)

#

Notional

amount

is

the

number

of

units

specified

in

the

contract,

and

can

include

currency

units,

bushels,

shares,

pounds,

barrels

or

other

units.

Currency

units

are

stated

in

U.S.

dollars

unless

otherwise

indicated.

*

The

principal

amount

is

stated

in

U.S.

dollars

unless

otherwise

indicated.

†

Rounds

to

less

than

0.1%

of

net

assets.

a

Non-income

producing.

b

Fair

valued

using

significant

unobservable

inputs.

See

Note

7

regarding

fair

value

measurements.

c

See

Note

3

regarding

restricted

securities.

d

See

Note

6

regarding

investments

in

affiliated

management

investment

companies.

e

Security

was

purchased

pursuant

to

Rule

144A

or

Regulation

S

under

the

Securities

Act

of

1933.

144A

securities

may

be

sold

in

transactions

exempt

from

registration

only

to

qualified

institutional

buyers

or

in

a

public

offering

registered

under

the

Securities

Act

of

1933.

Regulation

S

securities

cannot

be

sold

in

the

United

States

without

either

an

effective

registration

statement

filed

pursuant

to

the

Securities

Act

of

1933,

or

pursuant

to

an

exemption

from

registration.

At

July

31,

2022,

the

aggregate

value

of

these

securities

was

$1,002,661,822,

representing

25.9%

of

net

assets.

f

Income

may

be

received

in

additional

securities

and/or

cash.

g

Defaulted

security

or

security

for

which

income

has

been

deemed

uncollectible.

h

The

coupon

rate

shown

represents

the

rate

inclusive

of

any

caps

or

floors,

if

applicable,

in

effect

at

period

end.

i

See

full

breakdown

of

marketplace

loans

holdings

in

the

table

at

the

end

of

this

schedule.

j

A

supranational

organization

is

an

entity

formed

by

two

or

more

central

governments

through

international

treaties.

k

Perpetual

security

with

no

stated

maturity

date.

l

Principal

amount

of

security

is

adjusted

for

inflation.

m

Adjustable

rate

security

with

an

interest

rate

that

is

not

based

on

a

published

reference

index

and

spread.

The

rate

is

based

on

the

structure

of

the

agreement

and

current

market

conditions.

The

coupon

rate

shown

represents

the

rate

at

period

end.

n

Adjustable

Rate

Mortgage-Backed

Security

(ARM);

the

rate

shown

is

the

effective

rate

at

period

end.

ARM

rates

are

not

based

on

a

published

reference

rate

and

spread,

but

instead

pass-through

weighted

average

interest

income

inclusive

of

any

caps

or

floors,

if

applicable,

from

the

underlying

mortgage

loans

in

which

the

majority

of

mortgages

pay

interest

based

on

the

index

shown

at

their

designated

reset

dates

plus

a

spread,

less

the

applicable

servicing

and

guaranty

fee

(MBS

margin).

o

A

portion

or

all

of

the

security

purchased

on

a

delayed

delivery

basis.

p

Security

purchased

on

a

to-be-announced

(TBA)

basis.

q

The

rate

shown

is

the

annualized

seven-day

effective

yield

at

period

end.

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited),

July

31,

2022

Franklin

Total

Return

Fund

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

171

At

July

31,

2022,

the

Fund

had

the

following

marketplace

loans

outstanding.

Description

Principal

Amount

Value

Marketplace

Loans

-

2.7%

Block,

Inc.

4570571.SQ.FTS.B,

Zero

Cpn,

3/29/23

...

$

249

$

246

4571318.SQ.FTS.B,

Zero

Cpn,

3/29/23

...

7,712

5,799

4574176.SQ.FTS.B,

Zero

Cpn,

3/30/23

...

3,846

3,763

4574811.SQ.FTS.B,

Zero

Cpn,

3/30/23

...

1,920

1,882

4576847.SQ.FTS.B,

Zero

Cpn,

3/30/23

...

1,324

1,295

4578725.SQ.FTS.B,

Zero

Cpn,

4/01/23

...

845

807

4578954.SQ.FTS.B,

Zero

Cpn,

4/01/23

...

691

502

4579543.SQ.FTS.B,

Zero

Cpn,

4/01/23

...

1,097

956

4581052.SQ.FTS.B,

Zero

Cpn,

4/02/23

...

219

209

4581154.SQ.FTS.B,

Zero

Cpn,

4/02/23

...

59

57

4581745.SQ.FTS.B,

Zero

Cpn,

4/02/23

...

1,590

1,499

4581962.SQ.FTS.B,

Zero

Cpn,

4/03/23

...

1,804

510

4581979.SQ.FTS.B,

Zero

Cpn,

4/03/23

...

2,035

682

4582010.SQ.FTS.B,

Zero

Cpn,

4/03/23

...

189

161

4582135.SQ.FTS.B,

Zero

Cpn,

4/03/23

...

3,555

3,356

4582384.SQ.FTS.B,

Zero

Cpn,

4/03/23

...

910

609

4582468.SQ.FTS.B,

Zero

Cpn,

4/04/23

...

497

485

4584162.SQ.FTS.B,

Zero

Cpn,

4/04/23

...

354

346

4585542.SQ.FTS.B,

Zero

Cpn,

4/04/23

...

3,226

2,815

4585609.SQ.FTS.B,

Zero

Cpn,

4/04/23

...

33

33

4585613.SQ.FTS.B,

Zero

Cpn,

4/04/23

...

5,086

4,924

4586047.SQ.FTS.B,

Zero

Cpn,

4/04/23

...

328

314

4586446.SQ.FTS.B,

Zero

Cpn,

4/04/23

...

5,786

2,115

4586790.SQ.FTS.B,

Zero

Cpn,

4/05/23

...

933

846

4588235.SQ.FTS.B,

Zero

Cpn,

4/05/23

...

1,232

1,210

4589134.SQ.FTS.B,

Zero

Cpn,

4/05/23

...

7,557

7,115

4590098.SQ.FTS.B,

Zero

Cpn,

4/05/23

...

1,109

1,076

4590307.SQ.FTS.B,

Zero

Cpn,

4/05/23

...

167

164

4590433.SQ.FTS.B,

Zero

Cpn,

4/05/23

...

1,046

740

4590664.SQ.FTS.B,

Zero

Cpn,

4/06/23

...

419

337

4590729.SQ.FTS.B,

Zero

Cpn,

4/06/23

...

1,383

1,334

4590892.SQ.FTS.B,

Zero

Cpn,

4/06/23

...

4,244

4,133

4591041.SQ.FTS.B,

Zero

Cpn,

4/06/23

...

411

401

4591237.SQ.FTS.B,

Zero

Cpn,

4/06/23

...

6,184

5,825

4591449.SQ.FTS.B,

Zero

Cpn,

4/06/23

...

343

336

4591593.SQ.FTS.B,

Zero

Cpn,

4/06/23

...

498

444

4591813.SQ.FTS.B,

Zero

Cpn,

4/06/23

...

2,891

2,631

4591961.SQ.FTS.B,

Zero

Cpn,

4/06/23

...

2,523

1,398

4591971.SQ.FTS.B,

Zero

Cpn,

4/06/23

...

3,241

3,120

4592572.SQ.FTS.B,

Zero

Cpn,

4/06/23

...

520

494

4592845.SQ.FTS.B,

Zero

Cpn,

4/06/23

...

260

236

4592989.SQ.FTS.B,

Zero

Cpn,

4/06/23

...

463

452

4593021.SQ.FTS.B,

Zero

Cpn,

4/06/23

...

1,883

1,837

4593136.SQ.FTS.B,

Zero

Cpn,

4/06/23

...

178

175

4593217.SQ.FTS.B,

Zero

Cpn,

4/06/23

...

526

515

4593284.SQ.FTS.B,

Zero

Cpn,

4/06/23

...

252

196

4593610.SQ.FTS.B,

Zero

Cpn,

4/06/23

...

1,635

1,273

4598631.SQ.FTS.B,

Zero

Cpn,

4/07/23

...

5,136

4,266

4600636.SQ.FTS.B,

Zero

Cpn,

4/07/23

...

818

799

4600818.SQ.FTS.B,

Zero

Cpn,

4/07/23

...

816

726

4601276.SQ.FTS.B,

Zero

Cpn,

4/08/23

...

5,166

4,900

4601779.SQ.FTS.B,

Zero

Cpn,

4/08/23

...

2,347

1,889

4603700.SQ.FTS.B,

Zero

Cpn,

4/08/23

...

894

869

4603867.SQ.FTS.B,

Zero

Cpn,

4/08/23

...

1,258

837

4604000.SQ.FTS.B,

Zero

Cpn,

4/09/23

...

8,181

2,750

4604545.SQ.FTS.B,

Zero

Cpn,

4/09/23

...

877

769

Description

Principal

Amount

Value

Block,

Inc.

(continued)

4604554.SQ.FTS.B,

Zero

Cpn,

4/09/23

...

$

1,657

$

1,576

4604617.SQ.FTS.B,

Zero

Cpn,

4/09/23

...

357

328

4604804.SQ.FTS.B,

Zero

Cpn,

4/09/23

...

785

156

4604806.SQ.FTS.B,

Zero

Cpn,

4/09/23

...

297

291

4604965.SQ.FTS.B,

Zero

Cpn,

4/10/23

...

1,070

1,013

4605063.SQ.FTS.B,

Zero

Cpn,

4/10/23

...

1,527

1,024

4605194.SQ.FTS.B,

Zero

Cpn,

4/10/23

...

36

33

4605330.SQ.FTS.B,

Zero

Cpn,

4/10/23

...

60

55

4605340.SQ.FTS.B,

Zero

Cpn,

4/10/23

...

895

873

4605388.SQ.FTS.B,

Zero

Cpn,

4/10/23

...

376

347

4605433.SQ.FTS.B,

Zero

Cpn,

4/10/23

...

283

277

4605658.SQ.FTS.B,

Zero

Cpn,

4/10/23

...

6,711

2,258

4605737.SQ.FTS.B,

Zero

Cpn,

4/11/23

...

1,133

897

4605745.SQ.FTS.B,

Zero

Cpn,

4/11/23

...

3,699

2,739

4606041.SQ.FTS.B,

Zero

Cpn,

4/11/23

...

473

465

4606063.SQ.FTS.B,

Zero

Cpn,

4/11/23

...

2,752

953

4606087.SQ.FTS.B,

Zero

Cpn,

4/11/23

...

238

230

4606173.SQ.FTS.B,

Zero

Cpn,

4/11/23

...

156

151

4606273.SQ.FTS.B,

Zero

Cpn,

4/11/23

...

2,532

2,348

4606339.SQ.FTS.B,

Zero

Cpn,

4/11/23

...

1,392

1,364

4606359.SQ.FTS.B,

Zero

Cpn,

4/11/23

...

933

907

4606382.SQ.FTS.B,

Zero

Cpn,

4/11/23

...

2,894

2,680

4606489.SQ.FTS.B,

Zero

Cpn,

4/11/23

...

12,498

3,962

4606620.SQ.FTS.B,

Zero

Cpn,

4/11/23

...

1,574

1,088

4606761.SQ.FTS.B,

Zero

Cpn,

4/11/23

...

1,292

1,270

4606808.SQ.FTS.B,

Zero

Cpn,

4/11/23

...

8,210

7,070

4606853.SQ.FTS.B,

Zero

Cpn,

4/11/23

...

5,721

4,180

4606932.SQ.FTS.B,

Zero

Cpn,

4/11/23

...

2,572

897

4606989.SQ.FTS.B,

Zero

Cpn,

4/11/23

...

3,555

3,271

4607207.SQ.FTS.B,

Zero

Cpn,

4/11/23

...

19,549

18,520

4607548.SQ.FTS.B,

Zero

Cpn,

4/12/23

...

5,080

4,828

4608865.SQ.FTS.B,

Zero

Cpn,

4/12/23

...

1,117

1,075

4608948.SQ.FTS.B,

Zero

Cpn,

4/12/23

...

2,219

1,703

4609009.SQ.FTS.B,

Zero

Cpn,

4/12/23

...

5,510

4,525

4609460.SQ.FTS.B,

Zero

Cpn,

4/12/23

...

2,479

708

4609493.SQ.FTS.B,

Zero

Cpn,

4/12/23

...

1,517

1,394

4609609.SQ.FTS.B,

Zero

Cpn,

4/12/23

...

2,246

2,189

4609956.SQ.FTS.B,

Zero

Cpn,

4/12/23

...

329

323

4609987.SQ.FTS.B,

Zero

Cpn,

4/12/23

...

1,615

1,494

4610061.SQ.FTS.B,

Zero

Cpn,

4/12/23

...

1,697

1,398

4610446.SQ.FTS.B,

Zero

Cpn,

4/13/23

...

888

846

4610482.SQ.FTS.B,

Zero

Cpn,

4/13/23

...

3,367

739

4611834.SQ.FTS.B,

Zero

Cpn,

4/13/23

...

1,022

1,002

4612090.SQ.FTS.B,

Zero

Cpn,

4/13/23

...

634

621

4612318.SQ.FTS.B,

Zero

Cpn,

4/13/23

...

2,171

1,937

4612834.SQ.FTS.B,

Zero

Cpn,

4/13/23

...

1,453

1,417

4617805.SQ.FTS.B,

Zero

Cpn,

4/14/23

...

1,187

670

4617838.SQ.FTS.B,

Zero

Cpn,

4/14/23

...

125

123

4619034.SQ.FTS.B,

Zero

Cpn,

4/14/23

...

795

699

4619067.SQ.FTS.B,

Zero

Cpn,

4/14/23

...

3,906

3,782

4620202.SQ.FTS.B,

Zero

Cpn,

4/14/23

...

521

511

4620342.SQ.FTS.B,

Zero

Cpn,

4/14/23

...

681

659

4621658.SQ.FTS.B,

Zero

Cpn,

4/15/23

...

184

171

4621722.SQ.FTS.B,

Zero

Cpn,

4/15/23

...

2,514

2,333

4621770.SQ.FTS.B,

Zero

Cpn,

4/15/23

...

8,700

8,412

4622664.SQ.FTS.B,

Zero

Cpn,

4/15/23

...

3,107

1,092

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

172

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

4622864.SQ.FTS.B,

Zero

Cpn,

4/15/23

...

$

782

$

141

4623532.SQ.FTS.B,

Zero

Cpn,

4/15/23

...

6,137

3,432

4623748.SQ.FTS.B,

Zero

Cpn,

4/16/23

...

481

448

4623756.SQ.FTS.B,

Zero

Cpn,

4/16/23

...

2,655

2,521

4623768.SQ.FTS.B,

Zero

Cpn,

4/16/23

...

1,004

894

4623821.SQ.FTS.B,

Zero

Cpn,

4/16/23

...

1,771

1,739

4623886.SQ.FTS.B,

Zero

Cpn,

4/16/23

...

2,685

2,290

4623939.SQ.FTS.B,

Zero

Cpn,

4/16/23

...

1,240

1,179

4624212.SQ.FTS.B,

Zero

Cpn,

4/16/23

...

327

283

4624391.SQ.FTS.B,

Zero

Cpn,

4/17/23

...

3,087

1,517

4624440.SQ.FTS.B,

Zero

Cpn,

4/17/23

...

692

623

4624450.SQ.FTS.B,

Zero

Cpn,

4/17/23

...

1,026

988

4624699.SQ.FTS.B,

Zero

Cpn,

4/17/23

...

343

317

4624766.SQ.FTS.B,

Zero

Cpn,

4/17/23

...

1,660

1,522

4624787.SQ.FTS.B,

Zero

Cpn,

4/17/23

...

132

125

4624796.SQ.FTS.B,

Zero

Cpn,

4/17/23

...

1,011

599

4625048.SQ.FTS.B,

Zero

Cpn,

4/17/23

...

1,177

524

4625101.SQ.FTS.B,

Zero

Cpn,

4/17/23

...

1,710

1,267

4625154.SQ.FTS.B,

Zero

Cpn,

4/17/23

...

2,967

2,707

4625222.SQ.FTS.B,

Zero

Cpn,

4/18/23

...

1,210

1,181

4625299.SQ.FTS.B,

Zero

Cpn,

4/18/23

...

918

898

4625438.SQ.FTS.B,

Zero

Cpn,

4/18/23

...

1,017

987

4626019.SQ.FTS.B,

Zero

Cpn,

4/18/23

...

1,151

1,126

4626040.SQ.FTS.B,

Zero

Cpn,

4/18/23

...

5,792

3,262

4626340.SQ.FTS.B,

Zero

Cpn,

4/18/23

...

1,645

1,532

4626410.SQ.FTS.B,

Zero

Cpn,

4/18/23

...

1,321

1,280

4626651.SQ.FTS.B,

Zero

Cpn,

4/18/23

...

717

703

4626775.SQ.FTS.B,

Zero

Cpn,

4/18/23

...

5,722

4,602

4626795.SQ.FTS.B,

Zero

Cpn,

4/18/23

...

200

197

4626821.SQ.FTS.B,

Zero

Cpn,

4/18/23

...

537

512

4626825.SQ.FTS.B,

Zero

Cpn,

4/18/23

...

1,105

1,027

4626869.SQ.FTS.B,

Zero

Cpn,

4/18/23

...

233

215

4627256.SQ.FTS.B,

Zero

Cpn,

4/18/23

...

6,072

5,778

4627352.SQ.FTS.B,

Zero

Cpn,

4/18/23

...

596

587

4628022.SQ.FTS.B,

Zero

Cpn,

4/18/23

...

5,379

5,213

4628386.SQ.FTS.B,

Zero

Cpn,

4/19/23

...

1,469

1,259

4628862.SQ.FTS.B,

Zero

Cpn,

4/19/23

...

8,296

4,900

4629559.SQ.FTS.B,

Zero

Cpn,

4/19/23

...

8,250

7,683

4630482.SQ.FTS.B,

Zero

Cpn,

4/19/23

...

4,800

3,569

4630710.SQ.FTS.B,

Zero

Cpn,

4/20/23

...

1,342

609

4631203.SQ.FTS.B,

Zero

Cpn,

4/20/23

...

2,828

1,172

4632078.SQ.FTS.B,

Zero

Cpn,

4/20/23

...

21,052

4,363

4632408.SQ.FTS.B,

Zero

Cpn,

4/20/23

...

294

279

4634327.SQ.FTS.B,

Zero

Cpn,

4/21/23

...

7,722

7,469

4636056.SQ.FTS.B,

Zero

Cpn,

4/21/23

...

1,069

939

4636142.SQ.FTS.B,

Zero

Cpn,

4/21/23

...

104

102

4637372.SQ.FTS.B,

Zero

Cpn,

4/22/23

...

158

155

4637456.SQ.FTS.B,

Zero

Cpn,

4/22/23

...

1,551

1,360

4637979.SQ.FTS.B,

Zero

Cpn,

4/22/23

...

9,152

7,705

4638327.SQ.FTS.B,

Zero

Cpn,

4/22/23

...

8,661

3,891

4638730.SQ.FTS.B,

Zero

Cpn,

4/22/23

...

22,436

15,640

4639019.SQ.FTS.B,

Zero

Cpn,

4/22/23

...

527

423

4639746.SQ.FTS.B,

Zero

Cpn,

4/23/23

...

5,149

3,324

4639907.SQ.FTS.B,

Zero

Cpn,

4/23/23

...

310

295

4640191.SQ.FTS.B,

Zero

Cpn,

4/23/23

...

813

796

4640261.SQ.FTS.B,

Zero

Cpn,

4/24/23

...

635

356

4640553.SQ.FTS.B,

Zero

Cpn,

4/24/23

...

749

699

4640985.SQ.FTS.B,

Zero

Cpn,

4/25/23

...

1,887

1,847

Description

Principal

Amount

Value

Block,

Inc.

(continued)

4640996.SQ.FTS.B,

Zero

Cpn,

4/25/23

...

$

3,293

$

3,123

4641001.SQ.FTS.B,

Zero

Cpn,

4/25/23

...

4,655

3,031

4641050.SQ.FTS.B,

Zero

Cpn,

4/25/23

...

2,975

1,962

4641063.SQ.FTS.B,

Zero

Cpn,

4/25/23

...

1,022

538

4641709.SQ.FTS.B,

Zero

Cpn,

4/25/23

...

253

250

4642105.SQ.FTS.B,

Zero

Cpn,

4/25/23

...

343

281

4642251.SQ.FTS.B,

Zero

Cpn,

4/25/23

...

3,115

2,967

4642421.SQ.FTS.B,

Zero

Cpn,

4/25/23

...

257

232

4642498.SQ.FTS.B,

Zero

Cpn,

4/25/23

...

7,182

7,025

4642787.SQ.FTS.B,

Zero

Cpn,

4/25/23

...

167

164

4643057.SQ.FTS.B,

Zero

Cpn,

4/25/23

...

2,039

949

4643536.SQ.FTS.B,

Zero

Cpn,

4/25/23

...

890

869

4643805.SQ.FTS.B,

Zero

Cpn,

4/25/23

...

751

520

4643812.SQ.FTS.B,

Zero

Cpn,

4/25/23

...

637

597

4643974.SQ.FTS.B,

Zero

Cpn,

4/26/23

...

3,078

3,024

4644318.SQ.FTS.B,

Zero

Cpn,

4/26/23

...

13,297

13,011

4645386.SQ.FTS.B,

Zero

Cpn,

4/26/23

...

7,486

6,380

4646085.SQ.FTS.B,

Zero

Cpn,

4/26/23

...

90

88

4647785.SQ.FTS.B,

Zero

Cpn,

4/27/23

...

540

496

4648622.SQ.FTS.B,

Zero

Cpn,

4/27/23

...

5,620

5,462

4648952.SQ.FTS.B,

Zero

Cpn,

4/27/23

...

719

684

4649015.SQ.FTS.B,

Zero

Cpn,

4/27/23

...

5,124

3,491

4649299.SQ.FTS.B,

Zero

Cpn,

4/27/23

...

663

359

4649316.SQ.FTS.B,

Zero

Cpn,

4/27/23

...

5,261

4,125

4651046.SQ.FTS.B,

Zero

Cpn,

4/28/23

...

1,926

1,807

4651095.SQ.FTS.B,

Zero

Cpn,

4/28/23

...

1,330

1,305

4651264.SQ.FTS.B,

Zero

Cpn,

4/28/23

...

324

271

4651383.SQ.FTS.B,

Zero

Cpn,

4/28/23

...

495

472

4652078.SQ.FTS.B,

Zero

Cpn,

4/28/23

...

572

537

4652362.SQ.FTS.B,

Zero

Cpn,

4/28/23

...

2,268

2,222

4652623.SQ.FTS.B,

Zero

Cpn,

4/28/23

...

1,073

1,043

4653177.SQ.FTS.B,

Zero

Cpn,

4/28/23

...

6,954

5,928

4653923.SQ.FTS.B,

Zero

Cpn,

4/28/23

...

822

804

4655501.SQ.FTS.B,

Zero

Cpn,

4/29/23

...

4,421

3,028

4656403.SQ.FTS.B,

Zero

Cpn,

4/29/23

...

3,551

3,376

4656666.SQ.FTS.B,

Zero

Cpn,

4/30/23

...

1,049

1,031

4656815.SQ.FTS.B,

Zero

Cpn,

4/30/23

...

594

577

4657305.SQ.FTS.B,

Zero

Cpn,

4/30/23

...

79

75

4657541.SQ.FTS.B,

Zero

Cpn,

4/30/23

...

836

329

4657936.SQ.FTS.B,

Zero

Cpn,

4/30/23

...

17,149

12,877

4659204.SQ.FTS.B,

Zero

Cpn,

5/01/23

...

1,360

1,197

4659438.SQ.FTS.B,

Zero

Cpn,

5/01/23

...

1,098

983

4660081.SQ.FTS.B,

Zero

Cpn,

5/01/23

...

562

336

4660689.SQ.FTS.B,

Zero

Cpn,

5/01/23

...

573

476

4660746.SQ.FTS.B,

Zero

Cpn,

5/01/23

...

2,318

1,682

4661554.SQ.FTS.B,

Zero

Cpn,

5/02/23

...

63

62

4661568.SQ.FTS.B,

Zero

Cpn,

5/02/23

...

439

422

4661578.SQ.FTS.B,

Zero

Cpn,

5/02/23

...

258

251

4662124.SQ.FTS.B,

Zero

Cpn,

5/02/23

...

4,440

3,361

4662455.SQ.FTS.B,

Zero

Cpn,

5/02/23

...

1,900

1,810

4663092.SQ.FTS.B,

Zero

Cpn,

5/02/23

...

582

287

4663139.SQ.FTS.B,

Zero

Cpn,

5/02/23

...

1,320

1,296

4663323.SQ.FTS.B,

Zero

Cpn,

5/02/23

...

2,220

2,174

4664137.SQ.FTS.B,

Zero

Cpn,

5/02/23

...

2,829

1,930

4664189.SQ.FTS.B,

Zero

Cpn,

5/03/23

...

3,769

3,441

4666434.SQ.FTS.B,

Zero

Cpn,

5/03/23

...

2,824

2,358

4666640.SQ.FTS.B,

Zero

Cpn,

5/03/23

...

17,209

8,175

4668472.SQ.FTS.B,

Zero

Cpn,

5/04/23

...

1,555

1,139

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

173

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

4669452.SQ.FTS.B,

Zero

Cpn,

5/04/23

...

$

2,024

$

1,977

4669631.SQ.FTS.B,

Zero

Cpn,

5/04/23

...

841

509

4669644.SQ.FTS.B,

Zero

Cpn,

5/04/23

...

1,070

1,050

4671393.SQ.FTS.B,

Zero

Cpn,

5/04/23

...

2,198

837

4671466.SQ.FTS.B,

Zero

Cpn,

5/04/23

...

1,465

1,437

4671824.SQ.FTS.B,

Zero

Cpn,

5/04/23

...

664

595

4671920.SQ.FTS.B,

Zero

Cpn,

5/04/23

...

1,861

1,822

4672047.SQ.FTS.B,

Zero

Cpn,

5/05/23

...

395

388

4672180.SQ.FTS.B,

Zero

Cpn,

5/05/23

...

291

285

4674764.SQ.FTS.B,

Zero

Cpn,

5/05/23

...

591

577

4674918.SQ.FTS.B,

Zero

Cpn,

5/05/23

...

9,934

6,054

4675113.SQ.FTS.B,

Zero

Cpn,

5/05/23

...

790

395

4675540.SQ.FTS.B,

Zero

Cpn,

5/05/23

...

726

712

4675649.SQ.FTS.B,

Zero

Cpn,

5/05/23

...

16,271

15,763

4677725.SQ.FTS.B,

Zero

Cpn,

5/06/23

...

268

248

4677852.SQ.FTS.B,

Zero

Cpn,

5/06/23

...

1,230

1,204

4677906.SQ.FTS.B,

Zero

Cpn,

5/06/23

...

1,823

1,792

4678520.SQ.FTS.B,

Zero

Cpn,

5/07/23

...

1,943

1,903

4678619.SQ.FTS.B,

Zero

Cpn,

5/07/23

...

1,279

1,235

4678644.SQ.FTS.B,

Zero

Cpn,

5/07/23

...

1,694

1,610

4678698.SQ.FTS.B,

Zero

Cpn,

5/07/23

...

1,323

1,293

4678770.SQ.FTS.B,

Zero

Cpn,

5/07/23

...

492

479

4678849.SQ.FTS.B,

Zero

Cpn,

5/07/23

...

26,350

24,837

4682099.SQ.FTS.B,

Zero

Cpn,

5/08/23

...

2,901

2,654

4682720.SQ.FTS.B,

Zero

Cpn,

5/08/23

...

1,997

1,761

4682758.SQ.FTS.B,

Zero

Cpn,

5/08/23

...

1,019

971

4683786.SQ.FTS.B,

Zero

Cpn,

5/08/23

...

535

515

4684412.SQ.FTS.B,

Zero

Cpn,

5/08/23

...

2,706

946

4689334.SQ.FTS.B,

Zero

Cpn,

5/09/23

...

3,644

3,147

4689588.SQ.FTS.B,

Zero

Cpn,

5/09/23

...

329

240

4690005.SQ.FTS.B,

Zero

Cpn,

5/09/23

...

6,191

5,951

4692942.SQ.FTS.B,

Zero

Cpn,

5/09/23

...

16,053

15,172

4693373.SQ.FTS.B,

Zero

Cpn,

5/09/23

...

383

339

4694151.SQ.FTS.B,

Zero

Cpn,

5/09/23

...

120

119

4694201.SQ.FTS.B,

Zero

Cpn,

5/09/23

...

2,865

2,631

4694411.SQ.FTS.B,

Zero

Cpn,

5/09/23

...

3,142

3,069

4705372.SQ.FTS.B,

Zero

Cpn,

5/10/23

...

1,837

1,627

4705989.SQ.FTS.B,

Zero

Cpn,

5/10/23

...

1,207

1,159

4706507.SQ.FTS.B,

Zero

Cpn,

5/10/23

...

711

690

4707828.SQ.FTS.B,

Zero

Cpn,

5/11/23

...

479

445

4709218.SQ.FTS.B,

Zero

Cpn,

5/12/23

...

1,343

1,314

4713712.SQ.FTS.B,

Zero

Cpn,

5/13/23

...

340

305

4714017.SQ.FTS.B,

Zero

Cpn,

5/13/23

...

52

51

4714196.SQ.FTS.B,

Zero

Cpn,

5/13/23

...

1,013

993

4714291.SQ.FTS.B,

Zero

Cpn,

5/14/23

...

1,470

810

4714796.SQ.FTS.B,

Zero

Cpn,

5/14/23

...

2,212

2,151

4718271.SQ.FTS.B,

Zero

Cpn,

5/15/23

...

3,836

3,583

4718578.SQ.FTS.B,

Zero

Cpn,

5/15/23

...

219

215

4718826.SQ.FTS.B,

Zero

Cpn,

5/15/23

...

415

406

4719004.SQ.FTS.B,

Zero

Cpn,

5/15/23

...

492

473

4719023.SQ.FTS.B,

Zero

Cpn,

5/15/23

...

2,061

2,018

4719279.SQ.FTS.B,

Zero

Cpn,

5/15/23

...

869

805

4720100.SQ.FTS.B,

Zero

Cpn,

5/16/23

...

97

96

4720310.SQ.FTS.B,

Zero

Cpn,

5/16/23

...

2,744

2,671

4720634.SQ.FTS.B,

Zero

Cpn,

5/16/23

...

7,932

7,218

4722407.SQ.FTS.B,

Zero

Cpn,

5/16/23

...

890

612

4722454.SQ.FTS.B,

Zero

Cpn,

5/16/23

...

641

629

4722963.SQ.FTS.B,

Zero

Cpn,

5/16/23

...

25,206

21,753

Description

Principal

Amount

Value

Block,

Inc.

(continued)

4725524.SQ.FTS.B,

Zero

Cpn,

5/17/23

...

$

19,384

$

16,553

4728720.SQ.FTS.B,

Zero

Cpn,

5/17/23

...

1,717

1,676

4729102.SQ.FTS.B,

Zero

Cpn,

5/17/23

...

250

245

4729195.SQ.FTS.B,

Zero

Cpn,

5/17/23

...

2,223

2,166

4729403.SQ.FTS.B,

Zero

Cpn,

5/17/23

...

10,522

10,287

4741690.SQ.FTS.B,

Zero

Cpn,

5/18/23

...

524

332

4741932.SQ.FTS.B,

Zero

Cpn,

5/18/23

...

725

651

4742480.SQ.FTS.B,

Zero

Cpn,

5/18/23

...

642

575

4742918.SQ.FTS.B,

Zero

Cpn,

5/18/23

...

13,504

13,056

4744012.SQ.FTS.B,

Zero

Cpn,

5/18/23

...

2,475

2,370

4744489.SQ.FTS.B,

Zero

Cpn,

5/19/23

...

1,858

1,084

4747539.SQ.FTS.B,

Zero

Cpn,

5/19/23

...

6,011

5,451

4749278.SQ.FTS.B,

Zero

Cpn,

5/19/23

...

1,575

1,522

4749725.SQ.FTS.B,

Zero

Cpn,

5/20/23

...

117

115

4750020.SQ.FTS.B,

Zero

Cpn,

5/20/23

...

864

804

4750074.SQ.FTS.B,

Zero

Cpn,

5/20/23

...

3,064

2,993

4750170.SQ.FTS.B,

Zero

Cpn,

5/20/23

...

831

813

4750388.SQ.FTS.B,

Zero

Cpn,

5/20/23

...

3,874

3,677

4750508.SQ.FTS.B,

Zero

Cpn,

5/20/23

...

1,459

1,407

4750818.SQ.FTS.B,

Zero

Cpn,

5/21/23

...

1,114

715

4751114.SQ.FTS.B,

Zero

Cpn,

5/21/23

...

2,649

2,572

4751402.SQ.FTS.B,

Zero

Cpn,

5/21/23

...

224

217

4751610.SQ.FTS.B,

Zero

Cpn,

5/21/23

...

1,133

1,106

4751822.SQ.FTS.B,

Zero

Cpn,

5/22/23

...

153

151

4753030.SQ.FTS.B,

Zero

Cpn,

5/22/23

...

6,650

6,073

4754803.SQ.FTS.B,

Zero

Cpn,

5/22/23

...

759

738

4754984.SQ.FTS.B,

Zero

Cpn,

5/22/23

...

5,205

4,924

4755474.SQ.FTS.B,

Zero

Cpn,

5/22/23

...

1,485

1,448

4755592.SQ.FTS.B,

Zero

Cpn,

5/22/23

...

2,519

2,277

4756222.SQ.FTS.B,

Zero

Cpn,

5/22/23

...

734

716

4756307.SQ.FTS.B,

Zero

Cpn,

5/22/23

...

437

428

4756626.SQ.FTS.B,

Zero

Cpn,

5/22/23

...

1,916

906

4756677.SQ.FTS.B,

Zero

Cpn,

5/22/23

...

11,936

11,610

4757364.SQ.FTS.B,

Zero

Cpn,

5/22/23

...

2,804

1,834

4761213.SQ.FTS.B,

Zero

Cpn,

5/23/23

...

2,903

2,584

4761305.SQ.FTS.B,

Zero

Cpn,

5/23/23

...

3,084

3,008

4761650.SQ.FTS.B,

Zero

Cpn,

5/23/23

...

19,581

15,233

4764180.SQ.FTS.B,

Zero

Cpn,

5/23/23

...

2,797

2,727

4764668.SQ.FTS.B,

Zero

Cpn,

5/23/23

...

738

725

4764916.SQ.FTS.B,

Zero

Cpn,

5/23/23

...

14,590

11,347

4766076.SQ.FTS.B,

Zero

Cpn,

5/23/23

...

900

885

4774253.SQ.FTS.B,

Zero

Cpn,

5/24/23

...

1,389

1,363

4774463.SQ.FTS.B,

Zero

Cpn,

5/24/23

...

3,301

3,208

4776067.SQ.FTS.B,

Zero

Cpn,

5/24/23

...

4,719

2,116

4776338.SQ.FTS.B,

Zero

Cpn,

5/24/23

...

2,425

1,899

4776440.SQ.FTS.B,

Zero

Cpn,

5/24/23

...

692

622

4777169.SQ.FTS.B,

Zero

Cpn,

5/24/23

...

158

150

4777455.SQ.FTS.B,

Zero

Cpn,

5/24/23

...

1,659

1,574

4778127.SQ.FTS.B,

Zero

Cpn,

5/24/23

...

1,358

816

4778202.SQ.FTS.B,

Zero

Cpn,

5/24/23

...

129

126

4778707.SQ.FTS.B,

Zero

Cpn,

5/24/23

...

898

871

4779178.SQ.FTS.B,

Zero

Cpn,

5/24/23

...

3,327

3,209

4779613.SQ.FTS.B,

Zero

Cpn,

5/25/23

...

5,447

4,863

4779735.SQ.FTS.B,

Zero

Cpn,

5/25/23

...

415

402

4779762.SQ.FTS.B,

Zero

Cpn,

5/25/23

...

3,740

3,636

4782330.SQ.FTS.B,

Zero

Cpn,

5/26/23

...

4,749

4,365

4783176.SQ.FTS.B,

Zero

Cpn,

5/26/23

...

16,771

11,475

4784024.SQ.FTS.B,

Zero

Cpn,

5/26/23

...

3,264

3,088

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

174

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

4784501.SQ.FTS.B,

Zero

Cpn,

5/26/23

...

$

2,298

$

2,217

4784731.SQ.FTS.B,

Zero

Cpn,

5/26/23

...

2,005

1,957

4785137.SQ.FTS.B,

Zero

Cpn,

5/26/23

...

851

797

4785458.SQ.FTS.B,

Zero

Cpn,

5/27/23

...

7,770

7,481

4785691.SQ.FTS.B,

Zero

Cpn,

5/27/23

...

2,815

1,941

4785731.SQ.FTS.B,

Zero

Cpn,

5/27/23

...

553

543

4785821.SQ.FTS.B,

Zero

Cpn,

5/27/23

...

144

142

4785916.SQ.FTS.B,

Zero

Cpn,

5/28/23

...

1,425

1,391

4786208.SQ.FTS.B,

Zero

Cpn,

5/28/23

...

2,986

2,841

4786329.SQ.FTS.B,

Zero

Cpn,

5/28/23

...

2,522

2,443

4789268.SQ.FTS.B,

Zero

Cpn,

5/29/23

...

1,715

1,675

4790013.SQ.FTS.B,

Zero

Cpn,

5/29/23

...

826

629

4790161.SQ.FTS.B,

Zero

Cpn,

5/29/23

...

4,935

4,826

4790522.SQ.FTS.B,

Zero

Cpn,

5/29/23

...

964

940

4790663.SQ.FTS.B,

Zero

Cpn,

5/29/23

...

8,335

8,021

4791987.SQ.FTS.B,

Zero

Cpn,

5/29/23

...

2,533

2,463

4792817.SQ.FTS.B,

Zero

Cpn,

5/30/23

...

585

572

4793112.SQ.FTS.B,

Zero

Cpn,

5/30/23

...

184

181

4794296.SQ.FTS.B,

Zero

Cpn,

5/30/23

...

2,301

2,238

4794509.SQ.FTS.B,

Zero

Cpn,

5/30/23

...

1,374

1,307

4794557.SQ.FTS.B,

Zero

Cpn,

5/30/23

...

952

876

4794752.SQ.FTS.B,

Zero

Cpn,

5/30/23

...

9,553

8,868

4794949.SQ.FTS.B,

Zero

Cpn,

5/30/23

...

2,302

2,241

4795678.SQ.FTS.B,

Zero

Cpn,

5/30/23

...

4,675

4,546

4796039.SQ.FTS.B,

Zero

Cpn,

5/30/23

...

3,588

3,518

4796660.SQ.FTS.B,

Zero

Cpn,

6/01/23

...

1,595

1,553

4796710.SQ.FTS.B,

Zero

Cpn,

6/01/23

...

888

222

4796753.SQ.FTS.B,

Zero

Cpn,

6/01/23

...

3,385

2,074

4796791.SQ.FTS.B,

Zero

Cpn,

6/01/23

...

3,401

3,299

4798341.SQ.FTS.B,

Zero

Cpn,

6/01/23

...

927

355

4798355.SQ.FTS.B,

Zero

Cpn,

6/01/23

...

2,017

1,979

4798485.SQ.FTS.B,

Zero

Cpn,

6/01/23

...

5,631

5,103

4798631.SQ.FTS.B,

Zero

Cpn,

6/01/23

...

1,214

1,139

4798675.SQ.FTS.B,

Zero

Cpn,

6/01/23

...

2,203

1,286

4799114.SQ.FTS.B,

Zero

Cpn,

6/01/23

...

4,361

3,502

4799521.SQ.FTS.B,

Zero

Cpn,

6/01/23

...

1,253

1,195

4800220.SQ.FTS.B,

Zero

Cpn,

6/01/23

...

4,178

4,102

4805399.SQ.FTS.B,

Zero

Cpn,

6/02/23

...

200

179

4805435.SQ.FTS.B,

Zero

Cpn,

6/02/23

...

1,183

1,158

4805447.SQ.FTS.B,

Zero

Cpn,

6/02/23

...

2,310

2,180

4805633.SQ.FTS.B,

Zero

Cpn,

6/02/23

...

221

217

4805643.SQ.FTS.B,

Zero

Cpn,

6/02/23

...

1,907

1,861

4806846.SQ.FTS.B,

Zero

Cpn,

6/02/23

...

619

607

4806975.SQ.FTS.B,

Zero

Cpn,

6/02/23

...

469

448

4807146.SQ.FTS.B,

Zero

Cpn,

6/02/23

...

4,937

3,581

4807316.SQ.FTS.B,

Zero

Cpn,

6/02/23

...

820

798

4807599.SQ.FTS.B,

Zero

Cpn,

6/02/23

...

689

188

4807703.SQ.FTS.B,

Zero

Cpn,

6/02/23

...

3,922

3,494

4807813.SQ.FTS.B,

Zero

Cpn,

6/02/23

...

2,904

2,831

4807866.SQ.FTS.B,

Zero

Cpn,

6/02/23

...

2,593

2,486

4807904.SQ.FTS.B,

Zero

Cpn,

6/02/23

...

3,363

2,939

4808051.SQ.FTS.B,

Zero

Cpn,

6/02/23

...

18,083

16,637

4808592.SQ.FTS.B,

Zero

Cpn,

6/02/23

...

5,368

5,114

4808701.SQ.FTS.B,

Zero

Cpn,

6/02/23

...

276

199

4809493.SQ.FTS.B,

Zero

Cpn,

6/02/23

...

1,801

1,761

4809543.SQ.FTS.B,

Zero

Cpn,

6/02/23

...

706

682

4809636.SQ.FTS.B,

Zero

Cpn,

6/02/23

...

840

726

4809995.SQ.FTS.B,

Zero

Cpn,

6/03/23

...

269

261

Description

Principal

Amount

Value

Block,

Inc.

(continued)

4810447.SQ.FTS.B,

Zero

Cpn,

6/03/23

...

$

2,766

$

1,887

4810748.SQ.FTS.B,

Zero

Cpn,

6/03/23

...

5,146

5,034

4811336.SQ.FTS.B,

Zero

Cpn,

6/03/23

...

3,438

3,332

4812027.SQ.FTS.B,

Zero

Cpn,

6/03/23

...

841

473

4812039.SQ.FTS.B,

Zero

Cpn,

6/03/23

...

7,157

7,021

4813110.SQ.FTS.B,

Zero

Cpn,

6/03/23

...

7,584

7,449

4813955.SQ.FTS.B,

Zero

Cpn,

6/03/23

...

32,757

20,451

4814272.SQ.FTS.B,

Zero

Cpn,

6/03/23

...

1,040

1,022

4814415.SQ.FTS.B,

Zero

Cpn,

6/04/23

...

1,455

1,176

4814432.SQ.FTS.B,

Zero

Cpn,

6/04/23

...

2,915

2,853

4814556.SQ.FTS.B,

Zero

Cpn,

6/04/23

...

616

246

4814613.SQ.FTS.B,

Zero

Cpn,

6/04/23

...

9,429

8,701

4814833.SQ.FTS.B,

Zero

Cpn,

6/04/23

...

24,496

18,545

4815615.SQ.FTS.B,

Zero

Cpn,

6/05/23

...

81

79

4815623.SQ.FTS.B,

Zero

Cpn,

6/05/23

...

585

570

4815651.SQ.FTS.B,

Zero

Cpn,

6/05/23

...

1,416

383

4815665.SQ.FTS.B,

Zero

Cpn,

6/05/23

...

2,420

2,193

4815772.SQ.FTS.B,

Zero

Cpn,

6/05/23

...

2,905

2,769

4815832.SQ.FTS.B,

Zero

Cpn,

6/05/23

...

1,664

1,582

4815880.SQ.FTS.B,

Zero

Cpn,

6/05/23

...

858

842

4816099.SQ.FTS.B,

Zero

Cpn,

6/06/23

...

990

958

4816345.SQ.FTS.B,

Zero

Cpn,

6/06/23

...

335

317

4817578.SQ.FTS.B,

Zero

Cpn,

6/06/23

...

2,127

2,089

4818162.SQ.FTS.B,

Zero

Cpn,

6/06/23

...

2,329

2,032

4818198.SQ.FTS.B,

Zero

Cpn,

6/06/23

...

2,481

2,363

4818346.SQ.FTS.B,

Zero

Cpn,

6/06/23

...

3,550

3,400

4818850.SQ.FTS.B,

Zero

Cpn,

6/06/23

...

2,752

2,692

4818919.SQ.FTS.B,

Zero

Cpn,

6/06/23

...

2,444

2,347

4818973.SQ.FTS.B,

Zero

Cpn,

6/06/23

...

241

236

4818987.SQ.FTS.B,

Zero

Cpn,

6/06/23

...

2,640

607

4819145.SQ.FTS.B,

Zero

Cpn,

6/07/23

...

270

254

4819180.SQ.FTS.B,

Zero

Cpn,

6/07/23

...

1,330

425

4819217.SQ.FTS.B,

Zero

Cpn,

6/07/23

...

34,528

29,427

4819550.SQ.FTS.B,

Zero

Cpn,

6/07/23

...

3,338

2,843

4819715.SQ.FTS.B,

Zero

Cpn,

6/07/23

...

875

797

4819998.SQ.FTS.B,

Zero

Cpn,

6/07/23

...

634

622

4820289.SQ.FTS.B,

Zero

Cpn,

6/07/23

...

590

444

4820430.SQ.FTS.B,

Zero

Cpn,

6/07/23

...

62

61

4820441.SQ.FTS.B,

Zero

Cpn,

6/07/23

...

4,930

4,816

4820529.SQ.FTS.B,

Zero

Cpn,

6/07/23

...

1,665

954

4820581.SQ.FTS.B,

Zero

Cpn,

6/07/23

...

17,244

12,076

4821044.SQ.FTS.B,

Zero

Cpn,

6/07/23

...

4,870

4,694

4821111.SQ.FTS.B,

Zero

Cpn,

6/07/23

...

1,495

1,450

4821247.SQ.FTS.B,

Zero

Cpn,

6/07/23

...

15,137

13,520

4821361.SQ.FTS.B,

Zero

Cpn,

6/07/23

...

2,434

2,379

4821471.SQ.FTS.B,

Zero

Cpn,

6/08/23

...

1,262

1,211

4821585.SQ.FTS.B,

Zero

Cpn,

6/08/23

...

55

54

4821589.SQ.FTS.B,

Zero

Cpn,

6/08/23

...

1,475

1,180

4821611.SQ.FTS.B,

Zero

Cpn,

6/08/23

...

702

405

4821816.SQ.FTS.B,

Zero

Cpn,

6/08/23

...

4,119

4,009

4821871.SQ.FTS.B,

Zero

Cpn,

6/08/23

...

1,792

1,746

4821899.SQ.FTS.B,

Zero

Cpn,

6/08/23

...

1,472

1,217

4821927.SQ.FTS.B,

Zero

Cpn,

6/08/23

...

7,178

6,942

4822096.SQ.FTS.B,

Zero

Cpn,

6/08/23

...

2,298

2,252

4822240.SQ.FTS.B,

Zero

Cpn,

6/08/23

...

403

364

4822274.SQ.FTS.B,

Zero

Cpn,

6/08/23

...

1,834

1,784

4822376.SQ.FTS.B,

Zero

Cpn,

6/08/23

...

3,540

3,024

4822584.SQ.FTS.B,

Zero

Cpn,

6/08/23

...

793

719

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

175

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

4822617.SQ.FTS.B,

Zero

Cpn,

6/08/23

...

$

13,469

$

8,545

4823342.SQ.FTS.B,

Zero

Cpn,

6/08/23

...

1,980

1,689

4824362.SQ.FTS.B,

Zero

Cpn,

6/08/23

...

1,202

1,180

4824577.SQ.FTS.B,

Zero

Cpn,

6/08/23

...

427

418

4824622.SQ.FTS.B,

Zero

Cpn,

6/08/23

...

3,831

1,574

4824706.SQ.FTS.B,

Zero

Cpn,

6/08/23

...

6,269

5,729

4824969.SQ.FTS.B,

Zero

Cpn,

6/08/23

...

10,112

8,709

4827165.SQ.FTS.B,

Zero

Cpn,

6/09/23

...

1,298

629

4827167.SQ.FTS.B,

Zero

Cpn,

6/09/23

...

11,658

11,293

4827620.SQ.FTS.B,

Zero

Cpn,

6/09/23

...

4,695

3,686

4828151.SQ.FTS.B,

Zero

Cpn,

6/09/23

...

129

127

4828228.SQ.FTS.B,

Zero

Cpn,

6/09/23

...

26,444

25,795

4829235.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

69

68

4829334.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

6,950

6,624

4829869.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

4,620

4,263

4830018.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

4,791

1,957

4830508.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

717

635

4830580.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

126

121

4830584.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

6,461

6,072

4830741.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

685

673

4830903.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

1,408

1,339

4831089.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

4,034

2,628

4831107.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

1,236

1,194

4831131.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

636

622

4831184.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

2,018

1,958

4831276.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

141

138

4831444.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

1,043

1,001

4831465.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

5,432

5,308

4831680.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

2,783

2,726

4831734.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

563

515

4831741.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

1,437

1,237

4831927.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

1,137

1,107

4832102.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

326

318

4832216.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

780

761

4832235.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

1,901

1,850

4832267.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

186

182

4832310.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

12,630

10,455

4832519.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

500

488

4832582.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

10,373

9,323

4832683.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

3,671

2,172

4832716.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

1,508

1,435

4832761.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

3,412

3,254

4832985.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

12,858

6,243

4833104.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

858

833

4833136.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

2,274

2,218

4833189.SQ.FTS.B,

Zero

Cpn,

6/10/23

...

1,836

1,799

4833394.SQ.FTS.B,

Zero

Cpn,

6/11/23

...

13,784

13,398

4833709.SQ.FTS.B,

Zero

Cpn,

6/11/23

...

8,034

6,885

4833793.SQ.FTS.B,

Zero

Cpn,

6/11/23

...

3,120

3,030

4833847.SQ.FTS.B,

Zero

Cpn,

6/11/23

...

4,346

4,114

4834197.SQ.FTS.B,

Zero

Cpn,

6/12/23

...

793

777

4834224.SQ.FTS.B,

Zero

Cpn,

6/12/23

...

3,853

3,669

4834380.SQ.FTS.B,

Zero

Cpn,

6/12/23

...

955

757

4834435.SQ.FTS.B,

Zero

Cpn,

6/12/23

...

1,122

923

4834450.SQ.FTS.B,

Zero

Cpn,

6/12/23

...

3,001

2,926

4834524.SQ.FTS.B,

Zero

Cpn,

6/12/23

...

975

895

4834601.SQ.FTS.B,

Zero

Cpn,

6/12/23

...

2,837

2,327

4834640.SQ.FTS.B,

Zero

Cpn,

6/12/23

...

454

445

Description

Principal

Amount

Value

Block,

Inc.

(continued)

4834816.SQ.FTS.B,

Zero

Cpn,

6/13/23

...

$

8,994

$

8,768

4835686.SQ.FTS.B,

Zero

Cpn,

6/13/23

...

1,535

1,499

4836374.SQ.FTS.B,

Zero

Cpn,

6/13/23

...

7,912

5,692

4836662.SQ.FTS.B,

Zero

Cpn,

6/13/23

...

5,900

5,614

4836929.SQ.FTS.B,

Zero

Cpn,

6/13/23

...

6,637

5,703

4837116.SQ.FTS.B,

Zero

Cpn,

6/13/23

...

3,746

2,608

4837165.SQ.FTS.B,

Zero

Cpn,

6/13/23

...

3,932

3,645

4837769.SQ.FTS.B,

Zero

Cpn,

6/13/23

...

1,926

1,835

4837827.SQ.FTS.B,

Zero

Cpn,

6/13/23

...

64

62

4837861.SQ.FTS.B,

Zero

Cpn,

6/13/23

...

2,685

2,614

4838036.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

874

834

4838142.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

855

804

4838193.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

19,135

17,417

4838498.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

8,038

7,842

4838721.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

24,391

23,711

4838951.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

7,638

6,202

4838977.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

8,158

7,991

4839149.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

5,889

4,605

4839326.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

1,137

1,078

4839360.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

2,316

1,227

4839366.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

11,905

8,475

4839716.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

727

704

4839757.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

15,891

14,258

4839783.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

2,883

2,824

4840065.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

7,211

7,037

4840119.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

1,986

1,889

4840249.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

12,495

11,592

4840254.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

945

567

4840334.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

1,577

653

4840400.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

1,088

1,058

4840427.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

7,657

1,957

4840433.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

2,549

2,482

4840499.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

11,311

10,474

4840638.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

853

827

4840640.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

619

594

4840675.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

1,228

1,203

4840707.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

15

15

4840717.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

1,229

1,200

4840743.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

804

789

4840766.SQ.FTS.B,

Zero

Cpn,

6/14/23

...

3,934

3,699

4840932.SQ.FTS.B,

Zero

Cpn,

6/15/23

...

2,542

2,479

4841029.SQ.FTS.B,

Zero

Cpn,

6/15/23

...

3,058

2,910

4841078.SQ.FTS.B,

Zero

Cpn,

6/15/23

...

13,107

10,635

4841184.SQ.FTS.B,

Zero

Cpn,

6/15/23

...

2,361

2,308

4841382.SQ.FTS.B,

Zero

Cpn,

6/15/23

...

1,523

1,487

4841433.SQ.FTS.B,

Zero

Cpn,

6/15/23

...

1,229

1,131

4841464.SQ.FTS.B,

Zero

Cpn,

6/15/23

...

5,105

4,984

4841842.SQ.FTS.B,

Zero

Cpn,

6/15/23

...

2,429

2,354

4841898.SQ.FTS.B,

Zero

Cpn,

6/15/23

...

10,738

7,133

4842339.SQ.FTS.B,

Zero

Cpn,

6/15/23

...

1,485

1,327

4842366.SQ.FTS.B,

Zero

Cpn,

6/15/23

...

1,075

1,056

4842537.SQ.FTS.B,

Zero

Cpn,

6/15/23

...

10,256

8,848

4842678.SQ.FTS.B,

Zero

Cpn,

6/15/23

...

1,054

1,026

4842697.SQ.FTS.B,

Zero

Cpn,

6/15/23

...

5,852

5,694

4842858.SQ.FTS.B,

Zero

Cpn,

6/15/23

...

25,218

18,253

4843003.SQ.FTS.B,

Zero

Cpn,

6/15/23

...

293

288

4843008.SQ.FTS.B,

Zero

Cpn,

6/15/23

...

630

608

4843142.SQ.FTS.B,

Zero

Cpn,

6/15/23

...

12,811

10,232

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

176

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

4843290.SQ.FTS.B,

Zero

Cpn,

6/15/23

...

$

1,744

$

1,706

4848118.SQ.FTS.B,

Zero

Cpn,

6/16/23

...

8,731

4,583

4848302.SQ.FTS.B,

Zero

Cpn,

6/16/23

...

5,425

5,280

4848471.SQ.FTS.B,

Zero

Cpn,

6/16/23

...

3,829

2,616

4848662.SQ.FTS.B,

Zero

Cpn,

6/16/23

...

5,372

1,991

4848703.SQ.FTS.B,

Zero

Cpn,

6/16/23

...

1,526

452

4849650.SQ.FTS.B,

Zero

Cpn,

6/16/23

...

5,379

5,254

4849966.SQ.FTS.B,

Zero

Cpn,

6/16/23

...

1,997

1,948

4850020.SQ.FTS.B,

Zero

Cpn,

6/16/23

...

156

148

4850026.SQ.FTS.B,

Zero

Cpn,

6/16/23

...

11,266

11,000

4850372.SQ.FTS.B,

Zero

Cpn,

6/16/23

...

652

578

4850454.SQ.FTS.B,

Zero

Cpn,

6/16/23

...

2,326

2,043

4850556.SQ.FTS.B,

Zero

Cpn,

6/16/23

...

1,321

1,147

4850866.SQ.FTS.B,

Zero

Cpn,

6/16/23

...

1,320

1,290

4851014.SQ.FTS.B,

Zero

Cpn,

6/16/23

...

24,532

20,326

4855453.SQ.FTS.B,

Zero

Cpn,

6/16/23

...

1,908

1,473

4856906.SQ.FTS.B,

Zero

Cpn,

6/16/23

...

7,546

6,647

4857202.SQ.FTS.B,

Zero

Cpn,

6/16/23

...

6,035

5,690

4857326.SQ.FTS.B,

Zero

Cpn,

6/16/23

...

23,216

16,515

4857539.SQ.FTS.B,

Zero

Cpn,

6/16/23

...

1,994

1,948

4857647.SQ.FTS.B,

Zero

Cpn,

6/16/23

...

2,231

2,145

4857771.SQ.FTS.B,

Zero

Cpn,

6/17/23

...

4,778

3,191

4857891.SQ.FTS.B,

Zero

Cpn,

6/17/23

...

3,257

3,169

4858004.SQ.FTS.B,

Zero

Cpn,

6/17/23

...

1,224

1,097

4858016.SQ.FTS.B,

Zero

Cpn,

6/17/23

...

1,782

1,544

4858355.SQ.FTS.B,

Zero

Cpn,

6/17/23

...

1,317

1,289

4858409.SQ.FTS.B,

Zero

Cpn,

6/17/23

...

2,855

2,744

4858663.SQ.FTS.B,

Zero

Cpn,

6/17/23

...

5,615

5,467

4859646.SQ.FTS.B,

Zero

Cpn,

6/17/23

...

416

408

4859669.SQ.FTS.B,

Zero

Cpn,

6/17/23

...

1,513

1,478

4859718.SQ.FTS.B,

Zero

Cpn,

6/17/23

...

3,495

3,391

4859794.SQ.FTS.B,

Zero

Cpn,

6/17/23

...

6,492

6,189

4860138.SQ.FTS.B,

Zero

Cpn,

6/17/23

...

2,208

2,104

4860269.SQ.FTS.B,

Zero

Cpn,

6/17/23

...

2,838

2,774

4860376.SQ.FTS.B,

Zero

Cpn,

6/17/23

...

1,539

950

4860397.SQ.FTS.B,

Zero

Cpn,

6/17/23

...

1,364

1,253

4860428.SQ.FTS.B,

Zero

Cpn,

6/17/23

...

1,039

626

4860454.SQ.FTS.B,

Zero

Cpn,

6/17/23

...

1,690

1,652

4860575.SQ.FTS.B,

Zero

Cpn,

6/17/23

...

2,356

2,243

4860614.SQ.FTS.B,

Zero

Cpn,

6/17/23

...

5,125

4,179

4860687.SQ.FTS.B,

Zero

Cpn,

6/17/23

...

3,725

3,621

4860745.SQ.FTS.B,

Zero

Cpn,

6/17/23

...

16,069

15,686

4861177.SQ.FTS.B,

Zero

Cpn,

6/17/23

...

788

195

4861282.SQ.FTS.B,

Zero

Cpn,

6/17/23

...

3,163

1,120

4861318.SQ.FTS.B,

Zero

Cpn,

6/17/23

...

977

952

4861827.SQ.FTS.B,

Zero

Cpn,

6/17/23

...

1,239

1,157

4861849.SQ.FTS.B,

Zero

Cpn,

6/18/23

...

5,690

3,228

4861902.SQ.FTS.B,

Zero

Cpn,

6/18/23

...

2,332

1,063

4861917.SQ.FTS.B,

Zero

Cpn,

6/18/23

...

11,736

6,912

4862367.SQ.FTS.B,

Zero

Cpn,

6/18/23

...

1,038

530

4862373.SQ.FTS.B,

Zero

Cpn,

6/18/23

...

1,204

1,170

4862418.SQ.FTS.B,

Zero

Cpn,

6/18/23

...

668

596

4862563.SQ.FTS.B,

Zero

Cpn,

6/18/23

...

14,460

10,713

4862726.SQ.FTS.B,

Zero

Cpn,

6/19/23

...

652

576

4862857.SQ.FTS.B,

Zero

Cpn,

6/19/23

...

5,171

3,550

4863326.SQ.FTS.B,

Zero

Cpn,

6/19/23

...

7,985

7,474

4863418.SQ.FTS.B,

Zero

Cpn,

6/19/23

...

1,686

1,493

4863471.SQ.FTS.B,

Zero

Cpn,

6/19/23

...

7,932

6,742

Description

Principal

Amount

Value

Block,

Inc.

(continued)

4863939.SQ.FTS.B,

Zero

Cpn,

6/20/23

...

$

13,410

$

9,636

4864890.SQ.FTS.B,

Zero

Cpn,

6/20/23

...

3,880

3,774

4865451.SQ.FTS.B,

Zero

Cpn,

6/20/23

...

8,708

8,455

4865916.SQ.FTS.B,

Zero

Cpn,

6/20/23

...

2,453

2,398

4866209.SQ.FTS.B,

Zero

Cpn,

6/20/23

...

9,030

8,055

4866438.SQ.FTS.B,

Zero

Cpn,

6/20/23

...

954

320

4866448.SQ.FTS.B,

Zero

Cpn,

6/20/23

...

1,314

1,021

4866563.SQ.FTS.B,

Zero

Cpn,

6/20/23

...

1,851

1,678

4866709.SQ.FTS.B,

Zero

Cpn,

6/20/23

...

3,999

3,134

4866826.SQ.FTS.B,

Zero

Cpn,

6/20/23

...

672

541

4866839.SQ.FTS.B,

Zero

Cpn,

6/20/23

...

173

158

4866894.SQ.FTS.B,

Zero

Cpn,

6/20/23

...

9,652

9,031

4867170.SQ.FTS.B,

Zero

Cpn,

6/20/23

...

480

442

4867421.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

6,573

6,434

4867642.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

2,934

2,767

4867670.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

8,757

8,456

4867766.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

6,513

6,351

4867919.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

6,047

3,096

4867982.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

3,700

3,602

4868143.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

12,339

10,229

4868313.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

6,968

6,684

4868455.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

1,929

1,874

4868559.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

2,655

2,417

4868584.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

6,119

3,475

4868734.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

710

694

4868747.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

98

96

4868775.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

780

762

4868863.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

27,644

24,081

4868998.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

2,362

2,318

4869137.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

3,078

2,992

4869224.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

1,701

1,652

4869361.SQ.FTS.B,

Zero

Cpn,

6/21/23

...

21,209

20,703

4871738.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

708

687

4871871.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

849

829

4871877.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

4,268

4,049

4871898.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

5,327

4,803

4871928.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

1,642

1,354

4871968.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

1,204

1,113

4872365.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

1,119

1,079

4872389.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

5,191

3,622

4872438.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

1,375

1,315

4872451.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

7,952

7,397

4873119.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

3,282

3,051

4873240.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

5,376

5,255

4873428.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

5,930

5,564

4873562.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

1,190

1,148

4873635.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

803

778

4873670.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

5,531

5,381

4873717.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

2,958

2,887

4873752.SQ.FTS.B,

Zero

Cpn,

6/22/23

...

21,340

20,785

4874158.SQ.FTS.B,

Zero

Cpn,

6/23/23

...

8,578

8,280

4874247.SQ.FTS.B,

Zero

Cpn,

6/23/23

...

2,729

2,328

4874290.SQ.FTS.B,

Zero

Cpn,

6/23/23

...

10,687

10,460

4874566.SQ.FTS.B,

Zero

Cpn,

6/23/23

...

2,004

1,947

4874616.SQ.FTS.B,

Zero

Cpn,

6/23/23

...

18,150

16,383

4874860.SQ.FTS.B,

Zero

Cpn,

6/23/23

...

2,249

2,193

4874898.SQ.FTS.B,

Zero

Cpn,

6/23/23

...

2,976

2,871

4875026.SQ.FTS.B,

Zero

Cpn,

6/23/23

...

3,195

3,113

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

177

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

4875085.SQ.FTS.B,

Zero

Cpn,

6/23/23

...

$

918

$

901

4875132.SQ.FTS.B,

Zero

Cpn,

6/23/23

...

1,087

1,021

4875184.SQ.FTS.B,

Zero

Cpn,

6/23/23

...

413

405

4875200.SQ.FTS.B,

Zero

Cpn,

6/23/23

...

646

465

4875364.SQ.FTS.B,

Zero

Cpn,

6/23/23

...

3,184

2,946

4875404.SQ.FTS.B,

Zero

Cpn,

6/23/23

...

1,097

1,065

4875482.SQ.FTS.B,

Zero

Cpn,

6/23/23

...

3,053

2,959

4875529.SQ.FTS.B,

Zero

Cpn,

6/23/23

...

1,127

1,087

4875562.SQ.FTS.B,

Zero

Cpn,

6/23/23

...

523

508

4875588.SQ.FTS.B,

Zero

Cpn,

6/23/23

...

3,474

3,387

4875647.SQ.FTS.B,

Zero

Cpn,

6/23/23

...

30,218

28,001

4876097.SQ.FTS.B,

Zero

Cpn,

6/23/23

...

353

194

4876286.SQ.FTS.B,

Zero

Cpn,

6/23/23

...

4,571

4,446

4876386.SQ.FTS.B,

Zero

Cpn,

6/23/23

...

29,539

16,948

4876490.SQ.FTS.B,

Zero

Cpn,

6/24/23

...

909

844

4876558.SQ.FTS.B,

Zero

Cpn,

6/24/23

...

14,052

7,317

4876642.SQ.FTS.B,

Zero

Cpn,

6/24/23

...

1,636

1,596

4876680.SQ.FTS.B,

Zero

Cpn,

6/24/23

...

773

642

4876685.SQ.FTS.B,

Zero

Cpn,

6/24/23

...

1,935

1,848

4876747.SQ.FTS.B,

Zero

Cpn,

6/24/23

...

5,309

5,184

4877009.SQ.FTS.B,

Zero

Cpn,

6/24/23

...

3,069

2,853

4877157.SQ.FTS.B,

Zero

Cpn,

6/24/23

...

3,522

3,452

4877278.SQ.FTS.B,

Zero

Cpn,

6/25/23

...

5,909

5,627

4877358.SQ.FTS.B,

Zero

Cpn,

6/25/23

...

999

973

4877380.SQ.FTS.B,

Zero

Cpn,

6/25/23

...

5,968

5,798

4877569.SQ.FTS.B,

Zero

Cpn,

6/25/23

...

9,153

8,936

4877757.SQ.FTS.B,

Zero

Cpn,

6/26/23

...

3,421

3,214

4877824.SQ.FTS.B,

Zero

Cpn,

6/26/23

...

1,997

1,905

4877896.SQ.FTS.B,

Zero

Cpn,

6/26/23

...

10,201

9,317

4878201.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

11,306

8,851

4878563.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

1,318

1,235

4878608.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

1,117

1,090

4878675.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

1,019

910

4879038.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

4,369

3,892

4879097.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

5,121

4,277

4879164.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

3,544

3,453

4879234.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

14,381

13,958

4879710.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

5,596

4,916

4879985.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

347

297

4880000.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

11,690

11,407

4880226.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

3,184

3,122

4880320.SQ.FTS.B,

Zero

Cpn,

6/27/23

...

9,184

8,085

4880381.SQ.FTS.B,

Zero

Cpn,

6/28/23

...

10,749

10,382

4880873.SQ.FTS.B,

Zero

Cpn,

6/28/23

...

11,561

10,534

4880986.SQ.FTS.B,

Zero

Cpn,

6/28/23

...

1,975

1,857

4880994.SQ.FTS.B,

Zero

Cpn,

6/28/23

...

1,157

1,123

4881090.SQ.FTS.B,

Zero

Cpn,

6/28/23

...

528

496

4881099.SQ.FTS.B,

Zero

Cpn,

6/28/23

...

10,095

9,643

4881250.SQ.FTS.B,

Zero

Cpn,

6/28/23

...

642

625

4881379.SQ.FTS.B,

Zero

Cpn,

6/28/23

...

1,105

1,063

4881399.SQ.FTS.B,

Zero

Cpn,

6/28/23

...

977

951

4881415.SQ.FTS.B,

Zero

Cpn,

6/28/23

...

4,525

4,174

4881446.SQ.FTS.B,

Zero

Cpn,

6/28/23

...

8,907

8,704

4881708.SQ.FTS.B,

Zero

Cpn,

6/28/23

...

483

473

4881733.SQ.FTS.B,

Zero

Cpn,

6/28/23

...

3,237

1,409

4881919.SQ.FTS.B,

Zero

Cpn,

6/28/23

...

793

409

4882044.SQ.FTS.B,

Zero

Cpn,

6/28/23

...

3,797

3,666

4882161.SQ.FTS.B,

Zero

Cpn,

6/28/23

...

862

769

Description

Principal

Amount

Value

Block,

Inc.

(continued)

4882252.SQ.FTS.B,

Zero

Cpn,

6/28/23

...

$

568

$

557

4882299.SQ.FTS.B,

Zero

Cpn,

6/28/23

...

20,578

20,000

4882493.SQ.FTS.B,

Zero

Cpn,

6/28/23

...

27,045

20,458

4882633.SQ.FTS.B,

Zero

Cpn,

6/28/23

...

2,933

2,709

4884630.SQ.FTS.B,

Zero

Cpn,

6/29/23

...

1,238

547

4884638.SQ.FTS.B,

Zero

Cpn,

6/29/23

...

19,747

18,435

4885111.SQ.FTS.B,

Zero

Cpn,

6/29/23

...

659

646

4885267.SQ.FTS.B,

Zero

Cpn,

6/29/23

...

1,982

1,928

4885285.SQ.FTS.B,

Zero

Cpn,

6/29/23

...

2,768

2,690

4885402.SQ.FTS.B,

Zero

Cpn,

6/29/23

...

8,209

7,707

4885519.SQ.FTS.B,

Zero

Cpn,

6/29/23

...

2,178

1,673

4885542.SQ.FTS.B,

Zero

Cpn,

6/29/23

...

3,189

3,084

4885602.SQ.FTS.B,

Zero

Cpn,

6/29/23

...

2,513

2,449

4885669.SQ.FTS.B,

Zero

Cpn,

6/29/23

...

1,499

788

4885699.SQ.FTS.B,

Zero

Cpn,

6/29/23

...

1,712

1,600

4885712.SQ.FTS.B,

Zero

Cpn,

6/29/23

...

4,641

4,497

4885797.SQ.FTS.B,

Zero

Cpn,

6/29/23

...

4,789

4,671

4885855.SQ.FTS.B,

Zero

Cpn,

6/29/23

...

5,487

5,340

4885937.SQ.FTS.B,

Zero

Cpn,

6/29/23

...

3,123

2,648

4885965.SQ.FTS.B,

Zero

Cpn,

6/29/23

...

11,124

10,881

4886223.SQ.FTS.B,

Zero

Cpn,

6/29/23

...

2,469

2,157

4886277.SQ.FTS.B,

Zero

Cpn,

6/29/23

...

2,043

1,982

4886313.SQ.FTS.B,

Zero

Cpn,

6/29/23

...

6,842

6,643

4886401.SQ.FTS.B,

Zero

Cpn,

6/29/23

...

15,253

14,824

4886778.SQ.FTS.B,

Zero

Cpn,

6/30/23

...

6,377

5,922

4886902.SQ.FTS.B,

Zero

Cpn,

6/30/23

...

1,663

1,617

4886958.SQ.FTS.B,

Zero

Cpn,

6/30/23

...

1,635

1,585

4887017.SQ.FTS.B,

Zero

Cpn,

6/30/23

...

505

484

4887050.SQ.FTS.B,

Zero

Cpn,

6/30/23

...

3,804

3,537

4887230.SQ.FTS.B,

Zero

Cpn,

6/30/23

...

371

363

4887300.SQ.FTS.B,

Zero

Cpn,

6/30/23

...

164

161

4887489.SQ.FTS.B,

Zero

Cpn,

6/30/23

...

1,596

1,547

4887817.SQ.FTS.B,

Zero

Cpn,

6/30/23

...

7,961

6,707

4887908.SQ.FTS.B,

Zero

Cpn,

6/30/23

...

1,401

1,361

4887977.SQ.FTS.B,

Zero

Cpn,

6/30/23

...

1,441

1,401

4888076.SQ.FTS.B,

Zero

Cpn,

6/30/23

...

54,927

49,965

4888752.SQ.FTS.B,

Zero

Cpn,

6/30/23

...

10,280

10,049

4888922.SQ.FTS.B,

Zero

Cpn,

6/30/23

...

837

818

4888928.SQ.FTS.B,

Zero

Cpn,

6/30/23

...

2,979

2,878

4888954.SQ.FTS.B,

Zero

Cpn,

6/30/23

...

13,819

13,206

4889089.SQ.FTS.B,

Zero

Cpn,

6/30/23

...

1,455

1,421

4889111.SQ.FTS.B,

Zero

Cpn,

6/30/23

...

2,917

2,845

4889235.SQ.FTS.B,

Zero

Cpn,

6/30/23

...

6,236

5,944

4889312.SQ.FTS.B,

Zero

Cpn,

6/30/23

...

9,408

6,031

4889370.SQ.FTS.B,

Zero

Cpn,

6/30/23

...

6,892

6,332

4889444.SQ.FTS.B,

Zero

Cpn,

6/30/23

...

1,605

1,570

4889472.SQ.FTS.B,

Zero

Cpn,

7/01/23

...

1,923

1,725

4889567.SQ.FTS.B,

Zero

Cpn,

7/01/23

...

1,480

1,353

4889587.SQ.FTS.B,

Zero

Cpn,

7/01/23

...

3,115

3,022

4889629.SQ.FTS.B,

Zero

Cpn,

7/01/23

...

2,050

989

4889651.SQ.FTS.B,

Zero

Cpn,

7/01/23

...

648

629

4889665.SQ.FTS.B,

Zero

Cpn,

7/01/23

...

2,754

2,046

4889752.SQ.FTS.B,

Zero

Cpn,

7/01/23

...

607

596

4889829.SQ.FTS.B,

Zero

Cpn,

7/01/23

...

1,717

1,666

4889868.SQ.FTS.B,

Zero

Cpn,

7/01/23

...

2,121

2,074

4889899.SQ.FTS.B,

Zero

Cpn,

7/02/23

...

5,336

3,037

4889941.SQ.FTS.B,

Zero

Cpn,

7/02/23

...

4,126

4,028

4890016.SQ.FTS.B,

Zero

Cpn,

7/02/23

...

1,471

414

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

178

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

4890041.SQ.FTS.B,

Zero

Cpn,

7/02/23

...

$

1,318

$

1,288

4890098.SQ.FTS.B,

Zero

Cpn,

7/02/23

...

12,718

10,489

4890173.SQ.FTS.B,

Zero

Cpn,

7/02/23

...

2,086

1,912

4890198.SQ.FTS.B,

Zero

Cpn,

7/02/23

...

462

453

4890232.SQ.FTS.B,

Zero

Cpn,

7/02/23

...

2,407

2,243

4890255.SQ.FTS.B,

Zero

Cpn,

7/02/23

...

4,728

3,977

4890296.SQ.FTS.B,

Zero

Cpn,

7/02/23

...

3,207

3,013

4890331.SQ.FTS.B,

Zero

Cpn,

7/02/23

...

7,980

5,280

4890420.SQ.FTS.B,

Zero

Cpn,

7/03/23

...

1,176

1,152

4890471.SQ.FTS.B,

Zero

Cpn,

7/03/23

...

787

773

4890584.SQ.FTS.B,

Zero

Cpn,

7/03/23

...

2,828

2,311

4890814.SQ.FTS.B,

Zero

Cpn,

7/03/23

...

4,380

3,332

4890883.SQ.FTS.B,

Zero

Cpn,

7/03/23

...

1,955

1,781

4890907.SQ.FTS.B,

Zero

Cpn,

7/03/23

...

1,825

1,783

4890950.SQ.FTS.B,

Zero

Cpn,

7/03/23

...

2,696

2,516

4891000.SQ.FTS.B,

Zero

Cpn,

7/03/23

...

1,085

1,050

4891059.SQ.FTS.B,

Zero

Cpn,

7/03/23

...

1,870

1,808

4891094.SQ.FTS.B,

Zero

Cpn,

7/03/23

...

1,205

1,188

4891423.SQ.FTS.B,

Zero

Cpn,

7/03/23

...

8,069

6,533

4891550.SQ.FTS.B,

Zero

Cpn,

7/03/23

...

2,145

2,082

4891718.SQ.FTS.B,

Zero

Cpn,

7/03/23

...

1,500

1,462

4891900.SQ.FTS.B,

Zero

Cpn,

7/03/23

...

57

55

4891910.SQ.FTS.B,

Zero

Cpn,

7/03/23

...

10,603

9,999

4892164.SQ.FTS.B,

Zero

Cpn,

7/03/23

...

4,570

4,376

4892607.SQ.FTS.B,

Zero

Cpn,

7/04/23

...

322

312

4892625.SQ.FTS.B,

Zero

Cpn,

7/04/23

...

3,535

3,451

4892785.SQ.FTS.B,

Zero

Cpn,

7/04/23

...

1,485

1,076

4893005.SQ.FTS.B,

Zero

Cpn,

7/04/23

...

1,104

1,079

4893294.SQ.FTS.B,

Zero

Cpn,

7/04/23

...

1,040

984

4893631.SQ.FTS.B,

Zero

Cpn,

7/04/23

...

215

205

4893647.SQ.FTS.B,

Zero

Cpn,

7/04/23

...

2,266

2,224

4893787.SQ.FTS.B,

Zero

Cpn,

7/04/23

...

198

179

4893799.SQ.FTS.B,

Zero

Cpn,

7/04/23

...

16,832

16,461

4894130.SQ.FTS.B,

Zero

Cpn,

7/04/23

...

2,805

2,604

4894156.SQ.FTS.B,

Zero

Cpn,

7/04/23

...

5,188

4,838

4894200.SQ.FTS.B,

Zero

Cpn,

7/04/23

...

3,298

3,209

4894415.SQ.FTS.B,

Zero

Cpn,

7/04/23

...

24,123

23,509

4894691.SQ.FTS.B,

Zero

Cpn,

7/04/23

...

6,624

6,504

4894970.SQ.FTS.B,

Zero

Cpn,

7/05/23

...

2,520

2,363

4895006.SQ.FTS.B,

Zero

Cpn,

7/05/23

...

5,894

5,717

4895070.SQ.FTS.B,

Zero

Cpn,

7/05/23

...

5,570

5,222

4895131.SQ.FTS.B,

Zero

Cpn,

7/05/23

...

1,360

998

4895704.SQ.FTS.B,

Zero

Cpn,

7/05/23

...

478

467

4895734.SQ.FTS.B,

Zero

Cpn,

7/05/23

...

6,825

6,352

4895892.SQ.FTS.B,

Zero

Cpn,

7/05/23

...

1,634

1,583

4895910.SQ.FTS.B,

Zero

Cpn,

7/05/23

...

3,279

3,087

4895925.SQ.FTS.B,

Zero

Cpn,

7/05/23

...

328

322

4895949.SQ.FTS.B,

Zero

Cpn,

7/05/23

...

2,191

2,130

4896145.SQ.FTS.B,

Zero

Cpn,

7/05/23

...

1,885

1,834

4896256.SQ.FTS.B,

Zero

Cpn,

7/05/23

...

5,109

4,963

4896349.SQ.FTS.B,

Zero

Cpn,

7/05/23

...

2,538

2,366

4896652.SQ.FTS.B,

Zero

Cpn,

7/05/23

...

1,814

1,747

4896793.SQ.FTS.B,

Zero

Cpn,

7/05/23

...

3,582

3,483

4896832.SQ.FTS.B,

Zero

Cpn,

7/05/23

...

86

84

4897077.SQ.FTS.B,

Zero

Cpn,

7/05/23

...

2,667

2,568

4898412.SQ.FTS.B,

Zero

Cpn,

7/06/23

...

27,213

24,825

4898779.SQ.FTS.B,

Zero

Cpn,

7/06/23

...

8,735

8,544

4899143.SQ.FTS.B,

Zero

Cpn,

7/06/23

...

832

778

Description

Principal

Amount

Value

Block,

Inc.

(continued)

4899347.SQ.FTS.B,

Zero

Cpn,

7/06/23

...

$

8,992

$

8,242

4899443.SQ.FTS.B,

Zero

Cpn,

7/06/23

...

695

647

4899463.SQ.FTS.B,

Zero

Cpn,

7/06/23

...

1,875

1,832

4899496.SQ.FTS.B,

Zero

Cpn,

7/06/23

...

1,325

1,291

4899515.SQ.FTS.B,

Zero

Cpn,

7/06/23

...

913

884

4899552.SQ.FTS.B,

Zero

Cpn,

7/06/23

...

12,464

11,405

4899633.SQ.FTS.B,

Zero

Cpn,

7/06/23

...

2,360

2,234

4899682.SQ.FTS.B,

Zero

Cpn,

7/06/23

...

2,852

2,752

4899740.SQ.FTS.B,

Zero

Cpn,

7/06/23

...

4,941

4,832

4899887.SQ.FTS.B,

Zero

Cpn,

7/06/23

...

2,591

2,465

4899919.SQ.FTS.B,

Zero

Cpn,

7/06/23

...

298

284

4899926.SQ.FTS.B,

Zero

Cpn,

7/06/23

...

6,982

6,846

4900159.SQ.FTS.B,

Zero

Cpn,

7/06/23

...

4,004

3,878

4900202.SQ.FTS.B,

Zero

Cpn,

7/06/23

...

2,008

1,935

4900312.SQ.FTS.B,

Zero

Cpn,

7/06/23

...

8,142

7,607

4900386.SQ.FTS.B,

Zero

Cpn,

7/06/23

...

15,382

11,661

4900583.SQ.FTS.B,

Zero

Cpn,

7/06/23

...

958

891

4900639.SQ.FTS.B,

Zero

Cpn,

7/06/23

...

7,734

7,208

4900807.SQ.FTS.B,

Zero

Cpn,

7/07/23

...

15,040

14,573

4900945.SQ.FTS.B,

Zero

Cpn,

7/07/23

...

20,842

20,167

4901370.SQ.FTS.B,

Zero

Cpn,

7/07/23

...

1,567

1,521

4901412.SQ.FTS.B,

Zero

Cpn,

7/07/23

...

5,901

2,868

4901508.SQ.FTS.B,

Zero

Cpn,

7/07/23

...

554

543

4901541.SQ.FTS.B,

Zero

Cpn,

7/07/23

...

4,009

3,904

4901729.SQ.FTS.B,

Zero

Cpn,

7/07/23

...

781

765

4901767.SQ.FTS.B,

Zero

Cpn,

7/07/23

...

11,170

5,760

4901877.SQ.FTS.B,

Zero

Cpn,

7/07/23

...

1,876

1,834

4902054.SQ.FTS.B,

Zero

Cpn,

7/07/23

...

37,670

36,491

4902793.SQ.FTS.B,

Zero

Cpn,

7/07/23

...

2,267

2,212

4902889.SQ.FTS.B,

Zero

Cpn,

7/08/23

...

1,402

1,368

4902989.SQ.FTS.B,

Zero

Cpn,

7/08/23

...

3,795

3,024

4903094.SQ.FTS.B,

Zero

Cpn,

7/08/23

...

2,216

2,039

4903124.SQ.FTS.B,

Zero

Cpn,

7/08/23

...

1,392

1,234

4903200.SQ.FTS.B,

Zero

Cpn,

7/08/23

...

8,230

8,044

4903324.SQ.FTS.B,

Zero

Cpn,

7/09/23

...

2,510

2,399

4903389.SQ.FTS.B,

Zero

Cpn,

7/09/23

...

1,594

1,540

4903417.SQ.FTS.B,

Zero

Cpn,

7/09/23

...

890

868

4903433.SQ.FTS.B,

Zero

Cpn,

7/09/23

...

455

422

4903485.SQ.FTS.B,

Zero

Cpn,

7/09/23

...

836

805

4903679.SQ.FTS.B,

Zero

Cpn,

7/09/23

...

11,013

8,517

4903848.SQ.FTS.B,

Zero

Cpn,

7/09/23

...

1,484

1,441

4903860.SQ.FTS.B,

Zero

Cpn,

7/09/23

...

2,464

1,355

4903989.SQ.FTS.B,

Zero

Cpn,

7/10/23

...

1,162

1,141

4904183.SQ.FTS.B,

Zero

Cpn,

7/10/23

...

278

257

4904207.SQ.FTS.B,

Zero

Cpn,

7/10/23

...

4,664

4,519

4904339.SQ.FTS.B,

Zero

Cpn,

7/10/23

...

4,432

4,326

4904552.SQ.FTS.B,

Zero

Cpn,

7/10/23

...

1,120

1,092

4904577.SQ.FTS.B,

Zero

Cpn,

7/10/23

...

2,756

2,571

4904869.SQ.FTS.B,

Zero

Cpn,

7/10/23

...

1,315

1,253

4904929.SQ.FTS.B,

Zero

Cpn,

7/10/23

...

403

394

4905044.SQ.FTS.B,

Zero

Cpn,

7/10/23

...

675

600

4905084.SQ.FTS.B,

Zero

Cpn,

7/10/23

...

2,980

2,883

4905322.SQ.FTS.B,

Zero

Cpn,

7/10/23

...

295

256

4905912.SQ.FTS.B,

Zero

Cpn,

7/10/23

...

315

310

4905930.SQ.FTS.B,

Zero

Cpn,

7/10/23

...

8,657

8,154

4906129.SQ.FTS.B,

Zero

Cpn,

7/10/23

...

3,497

2,679

4906235.SQ.FTS.B,

Zero

Cpn,

7/11/23

...

8,981

8,792

4906501.SQ.FTS.B,

Zero

Cpn,

7/11/23

...

1,657

1,612

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

179

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

4907091.SQ.FTS.B,

Zero

Cpn,

7/11/23

...

$

140

$

137

4907186.SQ.FTS.B,

Zero

Cpn,

7/11/23

...

3,561

2,744

4907199.SQ.FTS.B,

Zero

Cpn,

7/11/23

...

4,402

4,285

4907328.SQ.FTS.B,

Zero

Cpn,

7/11/23

...

1,995

1,937

4907474.SQ.FTS.B,

Zero

Cpn,

7/11/23

...

8,048

7,593

4907560.SQ.FTS.B,

Zero

Cpn,

7/11/23

...

414

406

4907587.SQ.FTS.B,

Zero

Cpn,

7/11/23

...

11,089

10,866

4908003.SQ.FTS.B,

Zero

Cpn,

7/11/23

...

16,524

16,092

4908163.SQ.FTS.B,

Zero

Cpn,

7/11/23

...

27,493

23,700

4908547.SQ.FTS.B,

Zero

Cpn,

7/12/23

...

3,230

3,157

4908621.SQ.FTS.B,

Zero

Cpn,

7/12/23

...

873

833

4908671.SQ.FTS.B,

Zero

Cpn,

7/12/23

...

15,511

15,186

4909336.SQ.FTS.B,

Zero

Cpn,

7/12/23

...

2,090

2,028

4910039.SQ.FTS.B,

Zero

Cpn,

7/12/23

...

4,845

2,748

4910230.SQ.FTS.B,

Zero

Cpn,

7/12/23

...

2,294

2,200

4910565.SQ.FTS.B,

Zero

Cpn,

7/12/23

...

520

510

4910600.SQ.FTS.B,

Zero

Cpn,

7/12/23

...

10,355

9,974

4910727.SQ.FTS.B,

Zero

Cpn,

7/12/23

...

153

150

4913057.SQ.FTS.B,

Zero

Cpn,

7/13/23

...

987

971

4913153.SQ.FTS.B,

Zero

Cpn,

7/13/23

...

2,253

2,198

4913211.SQ.FTS.B,

Zero

Cpn,

7/13/23

...

38,295

37,173

4913926.SQ.FTS.B,

Zero

Cpn,

7/13/23

...

4,656

4,544

4914080.SQ.FTS.B,

Zero

Cpn,

7/13/23

...

546

536

4914136.SQ.FTS.B,

Zero

Cpn,

7/13/23

...

72

70

4914217.SQ.FTS.B,

Zero

Cpn,

7/13/23

...

1,245

1,046

4914236.SQ.FTS.B,

Zero

Cpn,

7/13/23

...

1,899

1,840

4914274.SQ.FTS.B,

Zero

Cpn,

7/13/23

...

5,262

4,051

4914345.SQ.FTS.B,

Zero

Cpn,

7/13/23

...

2,070

2,015

4914413.SQ.FTS.B,

Zero

Cpn,

7/13/23

...

558

525

4914432.SQ.FTS.B,

Zero

Cpn,

7/13/23

...

1,835

1,796

4914508.SQ.FTS.B,

Zero

Cpn,

7/13/23

...

2,520

2,431

4914578.SQ.FTS.B,

Zero

Cpn,

7/13/23

...

904

882

4914590.SQ.FTS.B,

Zero

Cpn,

7/13/23

...

3,266

3,203

4914796.SQ.FTS.B,

Zero

Cpn,

7/13/23

...

946

924

4914843.SQ.FTS.B,

Zero

Cpn,

7/13/23

...

381

198

4914994.SQ.FTS.B,

Zero

Cpn,

7/13/23

...

1,442

871

4915028.SQ.FTS.B,

Zero

Cpn,

7/13/23

...

10,616

10,384

4915344.SQ.FTS.B,

Zero

Cpn,

7/14/23

...

5,503

5,060

4915412.SQ.FTS.B,

Zero

Cpn,

7/14/23

...

3,505

3,408

4915437.SQ.FTS.B,

Zero

Cpn,

7/14/23

...

783

771

4916010.SQ.FTS.B,

Zero

Cpn,

7/14/23

...

605

501

4916065.SQ.FTS.B,

Zero

Cpn,

7/14/23

...

1,637

1,561

4916091.SQ.FTS.B,

Zero

Cpn,

7/14/23

...

2,648

2,563

4916147.SQ.FTS.B,

Zero

Cpn,

7/14/23

...

622

560

4916156.SQ.FTS.B,

Zero

Cpn,

7/14/23

...

1,955

1,901

4916191.SQ.FTS.B,

Zero

Cpn,

7/14/23

...

1,453

1,374

4916251.SQ.FTS.B,

Zero

Cpn,

7/14/23

...

28,219

24,366

4916624.SQ.FTS.B,

Zero

Cpn,

7/14/23

...

733

710

4916638.SQ.FTS.B,

Zero

Cpn,

7/14/23

...

1,739

1,687

4916663.SQ.FTS.B,

Zero

Cpn,

7/14/23

...

10,398

10,099

4916819.SQ.FTS.B,

Zero

Cpn,

7/14/23

...

60

59

4916821.SQ.FTS.B,

Zero

Cpn,

7/14/23

...

24,111

23,593

4922936.SQ.FTS.B,

Zero

Cpn,

7/14/23

...

8,777

8,396

4923002.SQ.FTS.B,

Zero

Cpn,

7/15/23

...

2,841

2,780

4923057.SQ.FTS.B,

Zero

Cpn,

7/15/23

...

1,692

1,662

4923092.SQ.FTS.B,

Zero

Cpn,

7/15/23

...

892

850

4923155.SQ.FTS.B,

Zero

Cpn,

7/15/23

...

452

443

4923165.SQ.FTS.B,

Zero

Cpn,

7/15/23

...

12,144

11,801

Description

Principal

Amount

Value

Block,

Inc.

(continued)

4923261.SQ.FTS.B,

Zero

Cpn,

7/15/23

...

$

1,540

$

1,501

4923279.SQ.FTS.B,

Zero

Cpn,

7/15/23

...

735

718

4923302.SQ.FTS.B,

Zero

Cpn,

7/15/23

...

797

695

4923330.SQ.FTS.B,

Zero

Cpn,

7/15/23

...

559

547

4923333.SQ.FTS.B,

Zero

Cpn,

7/15/23

...

527

516

4923342.SQ.FTS.B,

Zero

Cpn,

7/15/23

...

1,510

1,469

4923355.SQ.FTS.B,

Zero

Cpn,

7/15/23

...

2,363

2,300

4923426.SQ.FTS.B,

Zero

Cpn,

7/15/23

...

2,375

1,477

4923449.SQ.FTS.B,

Zero

Cpn,

7/15/23

...

1,893

1,840

4923596.SQ.FTS.B,

Zero

Cpn,

7/16/23

...

3,294

3,215

4923622.SQ.FTS.B,

Zero

Cpn,

7/16/23

...

15,066

13,496

4923734.SQ.FTS.B,

Zero

Cpn,

7/16/23

...

885

862

4923742.SQ.FTS.B,

Zero

Cpn,

7/16/23

...

4,598

4,472

4923791.SQ.FTS.B,

Zero

Cpn,

7/16/23

...

2,249

2,211

4923914.SQ.FTS.B,

Zero

Cpn,

7/16/23

...

1,230

1,205

4923944.SQ.FTS.B,

Zero

Cpn,

7/16/23

...

1,789

1,742

4923969.SQ.FTS.B,

Zero

Cpn,

7/16/23

...

464

433

4924092.SQ.FTS.B,

Zero

Cpn,

7/17/23

...

7,303

7,134

4924196.SQ.FTS.B,

Zero

Cpn,

7/17/23

...

1,040

909

4924220.SQ.FTS.B,

Zero

Cpn,

7/17/23

...

1,293

1,123

4924252.SQ.FTS.B,

Zero

Cpn,

7/17/23

...

681

668

4924269.SQ.FTS.B,

Zero

Cpn,

7/17/23

...

1,000

930

4924350.SQ.FTS.B,

Zero

Cpn,

7/17/23

...

5,055

4,941

4924480.SQ.FTS.B,

Zero

Cpn,

7/17/23

...

284

272

4924487.SQ.FTS.B,

Zero

Cpn,

7/17/23

...

1,085

1,009

4924498.SQ.FTS.B,

Zero

Cpn,

7/17/23

...

8,497

6,367

4924618.SQ.FTS.B,

Zero

Cpn,

7/17/23

...

1,417

1,381

4925395.SQ.FTS.B,

Zero

Cpn,

7/18/23

...

1,315

1,200

4925411.SQ.FTS.B,

Zero

Cpn,

7/18/23

...

754

736

4925422.SQ.FTS.B,

Zero

Cpn,

7/18/23

...

4,552

4,410

4925467.SQ.FTS.B,

Zero

Cpn,

7/18/23

...

1,286

1,258

4925500.SQ.FTS.B,

Zero

Cpn,

7/18/23

...

159

156

4925528.SQ.FTS.B,

Zero

Cpn,

7/18/23

...

8,357

8,162

4925650.SQ.FTS.B,

Zero

Cpn,

7/18/23

...

16,092

15,543

4925794.SQ.FTS.B,

Zero

Cpn,

7/18/23

...

1,070

1,036

4925864.SQ.FTS.B,

Zero

Cpn,

7/18/23

...

971

945

4925900.SQ.FTS.B,

Zero

Cpn,

7/18/23

...

46,096

40,845

4926197.SQ.FTS.B,

Zero

Cpn,

7/18/23

...

1,193

1,142

4926200.SQ.FTS.B,

Zero

Cpn,

7/18/23

...

2,349

2,286

4926237.SQ.FTS.B,

Zero

Cpn,

7/18/23

...

7,821

4,081

4926279.SQ.FTS.B,

Zero

Cpn,

7/18/23

...

4,291

4,159

4926699.SQ.FTS.B,

Zero

Cpn,

7/18/23

...

3,499

3,112

4926742.SQ.FTS.B,

Zero

Cpn,

7/18/23

...

8,333

6,508

4926957.SQ.FTS.B,

Zero

Cpn,

7/19/23

...

4,006

3,829

4927007.SQ.FTS.B,

Zero

Cpn,

7/19/23

...

6,915

6,789

4927276.SQ.FTS.B,

Zero

Cpn,

7/19/23

...

5,425

5,287

4927439.SQ.FTS.B,

Zero

Cpn,

7/19/23

...

2

2

4927446.SQ.FTS.B,

Zero

Cpn,

7/19/23

...

2,626

2,547

4927793.SQ.FTS.B,

Zero

Cpn,

7/19/23

...

4,267

2,703

4927815.SQ.FTS.B,

Zero

Cpn,

7/19/23

...

6,620

6,272

4927952.SQ.FTS.B,

Zero

Cpn,

7/19/23

...

769

729

4927968.SQ.FTS.B,

Zero

Cpn,

7/19/23

...

2,135

1,905

4928016.SQ.FTS.B,

Zero

Cpn,

7/19/23

...

1,835

1,784

4928138.SQ.FTS.B,

Zero

Cpn,

7/19/23

...

7,064

6,438

4928236.SQ.FTS.B,

Zero

Cpn,

7/19/23

...

1,822

1,745

4928279.SQ.FTS.B,

Zero

Cpn,

7/19/23

...

991

832

4928301.SQ.FTS.B,

Zero

Cpn,

7/19/23

...

3,419

3,258

4928443.SQ.FTS.B,

Zero

Cpn,

7/19/23

...

8,872

8,626

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

180

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

4928670.SQ.FTS.B,

Zero

Cpn,

7/19/23

...

$

441

$

422

4928683.SQ.FTS.B,

Zero

Cpn,

7/19/23

...

6,680

6,392

4928769.SQ.FTS.B,

Zero

Cpn,

7/19/23

...

447

436

4928795.SQ.FTS.B,

Zero

Cpn,

7/19/23

...

21,198

14,153

4928928.SQ.FTS.B,

Zero

Cpn,

7/19/23

...

2,472

2,392

4928993.SQ.FTS.B,

Zero

Cpn,

7/19/23

...

1,606

1,513

4930466.SQ.FTS.B,

Zero

Cpn,

7/20/23

...

2,809

2,686

4930489.SQ.FTS.B,

Zero

Cpn,

7/20/23

...

126

124

4930526.SQ.FTS.B,

Zero

Cpn,

7/20/23

...

13,359

12,993

4930690.SQ.FTS.B,

Zero

Cpn,

7/20/23

...

4,253

4,176

4930793.SQ.FTS.B,

Zero

Cpn,

7/20/23

...

1,757

1,718

4930909.SQ.FTS.B,

Zero

Cpn,

7/20/23

...

5,099

4,888

4931315.SQ.FTS.B,

Zero

Cpn,

7/20/23

...

1,627

1,599

4931407.SQ.FTS.B,

Zero

Cpn,

7/20/23

...

765

612

4931470.SQ.FTS.B,

Zero

Cpn,

7/20/23

...

568

555

4931819.SQ.FTS.B,

Zero

Cpn,

7/20/23

...

3,461

3,230

4931851.SQ.FTS.B,

Zero

Cpn,

7/20/23

...

1,547

1,513

4931889.SQ.FTS.B,

Zero

Cpn,

7/20/23

...

1,485

1,451

4931918.SQ.FTS.B,

Zero

Cpn,

7/20/23

...

1,493

1,239

4932181.SQ.FTS.B,

Zero

Cpn,

7/20/23

...

1,604

1,390

4932232.SQ.FTS.B,

Zero

Cpn,

7/20/23

...

1,723

1,681

4932305.SQ.FTS.B,

Zero

Cpn,

7/20/23

...

646

634

4932425.SQ.FTS.B,

Zero

Cpn,

7/20/23

...

2,501

2,372

4932456.SQ.FTS.B,

Zero

Cpn,

7/20/23

...

976

945

4932475.SQ.FTS.B,

Zero

Cpn,

7/20/23

...

1,595

1,555

4932560.SQ.FTS.B,

Zero

Cpn,

7/20/23

...

729

648

4932673.SQ.FTS.B,

Zero

Cpn,

7/20/23

...

2,779

2,670

4932717.SQ.FTS.B,

Zero

Cpn,

7/20/23

...

25,369

24,418

4932781.SQ.FTS.B,

Zero

Cpn,

7/21/23

...

747

732

4932902.SQ.FTS.B,

Zero

Cpn,

7/21/23

...

20,083

19,364

4933104.SQ.FTS.B,

Zero

Cpn,

7/21/23

...

791

772

4933111.SQ.FTS.B,

Zero

Cpn,

7/21/23

...

3,402

3,331

4933191.SQ.FTS.B,

Zero

Cpn,

7/21/23

...

20,586

19,277

4933602.SQ.FTS.B,

Zero

Cpn,

7/21/23

...

1,041

1,019

4933631.SQ.FTS.B,

Zero

Cpn,

7/21/23

...

1,153

1,003

4933679.SQ.FTS.B,

Zero

Cpn,

7/21/23

...

1,676

1,631

4933844.SQ.FTS.B,

Zero

Cpn,

7/21/23

...

19,605

13,440

4934081.SQ.FTS.B,

Zero

Cpn,

7/21/23

...

65

64

4934225.SQ.FTS.B,

Zero

Cpn,

7/21/23

...

343

337

4934296.SQ.FTS.B,

Zero

Cpn,

7/21/23

...

5,516

5,377

4934417.SQ.FTS.B,

Zero

Cpn,

7/21/23

...

4,588

4,401

4934615.SQ.FTS.B,

Zero

Cpn,

7/21/23

...

1,174

1,102

4934643.SQ.FTS.B,

Zero

Cpn,

7/21/23

...

3,127

3,041

4934892.SQ.FTS.B,

Zero

Cpn,

7/21/23

...

819

804

4934958.SQ.FTS.B,

Zero

Cpn,

7/22/23

...

639

475

4934980.SQ.FTS.B,

Zero

Cpn,

7/22/23

...

32,313

31,401

4935340.SQ.FTS.B,

Zero

Cpn,

7/22/23

...

423

413

4935342.SQ.FTS.B,

Zero

Cpn,

7/22/23

...

981

964

4935422.SQ.FTS.B,

Zero

Cpn,

7/22/23

...

4,133

4,003

4935475.SQ.FTS.B,

Zero

Cpn,

7/22/23

...

6,369

5,945

4935527.SQ.FTS.B,

Zero

Cpn,

7/22/23

...

3,050

2,457

4935556.SQ.FTS.B,

Zero

Cpn,

7/22/23

...

1,128

1,011

4935662.SQ.FTS.B,

Zero

Cpn,

7/23/23

...

4,687

4,555

4935732.SQ.FTS.B,

Zero

Cpn,

7/23/23

...

2,687

2,600

4935758.SQ.FTS.B,

Zero

Cpn,

7/23/23

...

3,190

3,087

4935784.SQ.FTS.B,

Zero

Cpn,

7/23/23

...

2,419

1,849

4935806.SQ.FTS.B,

Zero

Cpn,

7/23/23

...

2,577

2,498

4935975.SQ.FTS.B,

Zero

Cpn,

7/23/23

...

1,430

1,391

Description

Principal

Amount

Value

Block,

Inc.

(continued)

4936030.SQ.FTS.B,

Zero

Cpn,

7/23/23

...

$

2,161

$

2,104

4936064.SQ.FTS.B,

Zero

Cpn,

7/23/23

...

1,902

1,857

4936091.SQ.FTS.B,

Zero

Cpn,

7/23/23

...

810

791

4936341.SQ.FTS.B,

Zero

Cpn,

7/24/23

...

1,416

858

4936358.SQ.FTS.B,

Zero

Cpn,

7/24/23

...

3,352

3,268

4936444.SQ.FTS.B,

Zero

Cpn,

7/24/23

...

1,187

1,154

4936480.SQ.FTS.B,

Zero

Cpn,

7/24/23

...

2,210

2,170

4936831.SQ.FTS.B,

Zero

Cpn,

7/24/23

...

2,055

1,987

4936861.SQ.FTS.B,

Zero

Cpn,

7/24/23

...

2,463

1,875

4936884.SQ.FTS.B,

Zero

Cpn,

7/24/23

...

1,162

1,120

4936983.SQ.FTS.B,

Zero

Cpn,

7/24/23

...

18,890

18,356

4937255.SQ.FTS.B,

Zero

Cpn,

7/24/23

...

2,131

2,080

4937289.SQ.FTS.B,

Zero

Cpn,

7/24/23

...

9,996

9,759

4937460.SQ.FTS.B,

Zero

Cpn,

7/24/23

...

1,288

1,250

4937470.SQ.FTS.B,

Zero

Cpn,

7/24/23

...

4,061

3,885

4937548.SQ.FTS.B,

Zero

Cpn,

7/24/23

...

642

627

4937749.SQ.FTS.B,

Zero

Cpn,

7/24/23

...

208

192

4937774.SQ.FTS.B,

Zero

Cpn,

7/24/23

...

3,513

3,444

4937891.SQ.FTS.B,

Zero

Cpn,

7/24/23

...

18,702

18,168

4938432.SQ.FTS.B,

Zero

Cpn,

7/24/23

...

4,967

2,991

4938479.SQ.FTS.B,

Zero

Cpn,

7/24/23

...

16,623

12,490

4938758.SQ.FTS.B,

Zero

Cpn,

7/24/23

...

5,949

5,816

4938895.SQ.FTS.B,

Zero

Cpn,

7/24/23

...

17,506

17,095

4939291.SQ.FTS.B,

Zero

Cpn,

7/25/23

...

6,345

5,855

4939365.SQ.FTS.B,

Zero

Cpn,

7/25/23

...

24,018

23,189

4939877.SQ.FTS.B,

Zero

Cpn,

7/25/23

...

880

824

4939900.SQ.FTS.B,

Zero

Cpn,

7/25/23

...

9,377

9,151

4940240.SQ.FTS.B,

Zero

Cpn,

7/25/23

...

1,271

1,206

4940400.SQ.FTS.B,

Zero

Cpn,

7/25/23

...

523

476

4940414.SQ.FTS.B,

Zero

Cpn,

7/25/23

...

1,889

1,858

4940759.SQ.FTS.B,

Zero

Cpn,

7/25/23

...

6,463

6,287

4940824.SQ.FTS.B,

Zero

Cpn,

7/25/23

...

3,403

3,296

4940857.SQ.FTS.B,

Zero

Cpn,

7/25/23

...

1,802

1,748

4940911.SQ.FTS.B,

Zero

Cpn,

7/25/23

...

872

759

4940991.SQ.FTS.B,

Zero

Cpn,

7/25/23

...

568

508

4941003.SQ.FTS.B,

Zero

Cpn,

7/25/23

...

1,260

980

4941019.SQ.FTS.B,

Zero

Cpn,

7/25/23

...

26,492

25,802

4941370.SQ.FTS.B,

Zero

Cpn,

7/25/23

...

2,210

2,146

4941390.SQ.FTS.B,

Zero

Cpn,

7/25/23

...

9,351

8,909

4941483.SQ.FTS.B,

Zero

Cpn,

7/26/23

...

544

531

4941500.SQ.FTS.B,

Zero

Cpn,

7/26/23

...

532

504

4941511.SQ.FTS.B,

Zero

Cpn,

7/26/23

...

1,426

1,388

4941544.SQ.FTS.B,

Zero

Cpn,

7/26/23

...

8,735

8,472

4941734.SQ.FTS.B,

Zero

Cpn,

7/26/23

...

1,442

1,401

4941784.SQ.FTS.B,

Zero

Cpn,

7/26/23

...

2,073

2,024

4941941.SQ.FTS.B,

Zero

Cpn,

7/26/23

...

6,606

6,377

4942138.SQ.FTS.B,

Zero

Cpn,

7/26/23

...

2,433

2,365

4942330.SQ.FTS.B,

Zero

Cpn,

7/26/23

...

659

618

4942343.SQ.FTS.B,

Zero

Cpn,

7/26/23

...

1,388

1,361

4942554.SQ.FTS.B,

Zero

Cpn,

7/26/23

...

2,678

2,633

4942734.SQ.FTS.B,

Zero

Cpn,

7/26/23

...

4,216

4,097

4942830.SQ.FTS.B,

Zero

Cpn,

7/26/23

...

590

580

4942939.SQ.FTS.B,

Zero

Cpn,

7/26/23

...

19,453

18,646

4943292.SQ.FTS.B,

Zero

Cpn,

7/26/23

...

1,030

1,007

4943470.SQ.FTS.B,

Zero

Cpn,

7/26/23

...

3,706

3,603

4943507.SQ.FTS.B,

Zero

Cpn,

7/26/23

...

2,053

2,004

4943531.SQ.FTS.B,

Zero

Cpn,

7/26/23

...

405

394

4943565.SQ.FTS.B,

Zero

Cpn,

7/26/23

...

4,461

4,324

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

181

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

4945144.SQ.FTS.B,

Zero

Cpn,

7/27/23

...

$

31,014

$

30,235

4945833.SQ.FTS.B,

Zero

Cpn,

7/27/23

...

2,087

2,034

4945895.SQ.FTS.B,

Zero

Cpn,

7/27/23

...

2,334

2,286

4945947.SQ.FTS.B,

Zero

Cpn,

7/27/23

...

1,873

1,824

4945981.SQ.FTS.B,

Zero

Cpn,

7/27/23

...

31,536

22,728

4946395.SQ.FTS.B,

Zero

Cpn,

7/27/23

...

1,128

1,098

4946414.SQ.FTS.B,

Zero

Cpn,

7/27/23

...

11,709

11,399

4946936.SQ.FTS.B,

Zero

Cpn,

7/27/23

...

714

691

4946940.SQ.FTS.B,

Zero

Cpn,

7/27/23

...

1,954

1,908

4947005.SQ.FTS.B,

Zero

Cpn,

7/27/23

...

2,207

2,155

4947199.SQ.FTS.B,

Zero

Cpn,

7/27/23

...

937

888

4947233.SQ.FTS.B,

Zero

Cpn,

7/27/23

...

18,940

18,547

4948749.SQ.FTS.B,

Zero

Cpn,

7/28/23

...

1,851

1,579

4948876.SQ.FTS.B,

Zero

Cpn,

7/28/23

...

768

716

4952620.SQ.FTS.B,

Zero

Cpn,

7/28/23

...

131

129

4952780.SQ.FTS.B,

Zero

Cpn,

7/28/23

...

11,508

11,204

4953460.SQ.FTS.B,

Zero

Cpn,

7/28/23

...

6,623

6,476

4953720.SQ.FTS.B,

Zero

Cpn,

7/28/23

...

19,171

18,160

4954248.SQ.FTS.B,

Zero

Cpn,

7/28/23

...

17,633

17,116

4954900.SQ.FTS.B,

Zero

Cpn,

7/28/23

...

4,177

3,685

4954929.SQ.FTS.B,

Zero

Cpn,

7/28/23

...

1,755

1,721

4955101.SQ.FTS.B,

Zero

Cpn,

7/28/23

...

6,286

4,365

4955565.SQ.FTS.B,

Zero

Cpn,

7/29/23

...

2,808

2,568

4955621.SQ.FTS.B,

Zero

Cpn,

7/29/23

...

263

257

4955662.SQ.FTS.B,

Zero

Cpn,

7/29/23

...

1,766

1,726

4955708.SQ.FTS.B,

Zero

Cpn,

7/29/23

...

2,109

2,030

4955724.SQ.FTS.B,

Zero

Cpn,

7/29/23

...

7,749

7,498

4955985.SQ.FTS.B,

Zero

Cpn,

7/29/23

...

8,902

8,570

4956147.SQ.FTS.B,

Zero

Cpn,

7/30/23

...

4,055

3,918

4956204.SQ.FTS.B,

Zero

Cpn,

7/30/23

...

1,961

1,910

4956247.SQ.FTS.B,

Zero

Cpn,

7/30/23

...

10,825

10,530

4956387.SQ.FTS.B,

Zero

Cpn,

7/30/23

...

1,590

1,552

4956450.SQ.FTS.B,

Zero

Cpn,

7/30/23

...

8,308

7,688

4956585.SQ.FTS.B,

Zero

Cpn,

7/30/23

...

394

386

4956627.SQ.FTS.B,

Zero

Cpn,

7/30/23

...

940

917

4956642.SQ.FTS.B,

Zero

Cpn,

7/30/23

...

2,088

2,017

4956688.SQ.FTS.B,

Zero

Cpn,

7/30/23

...

1,844

1,799

4956699.SQ.FTS.B,

Zero

Cpn,

7/30/23

...

3,814

3,717

4956826.SQ.FTS.B,

Zero

Cpn,

7/31/23

...

1,402

1,371

4957011.SQ.FTS.B,

Zero

Cpn,

7/31/23

...

1,264

1,232

4957205.SQ.FTS.B,

Zero

Cpn,

7/31/23

...

2,772

2,693

4957493.SQ.FTS.B,

Zero

Cpn,

7/31/23

...

12,027

11,633

4959901.SQ.FTS.B,

Zero

Cpn,

7/31/23

...

5,038

4,798

4960214.SQ.FTS.B,

Zero

Cpn,

7/31/23

...

4,716

2,940

4960480.SQ.FTS.B,

Zero

Cpn,

7/31/23

...

1,771

1,721

4960602.SQ.FTS.B,

Zero

Cpn,

7/31/23

...

990

489

4960647.SQ.FTS.B,

Zero

Cpn,

7/31/23

...

2,047

2,013

4961252.SQ.FTS.B,

Zero

Cpn,

7/31/23

...

335

318

4961274.SQ.FTS.B,

Zero

Cpn,

7/31/23

...

442

434

4961596.SQ.FTS.B,

Zero

Cpn,

7/31/23

...

1,784

1,732

4961642.SQ.FTS.B,

Zero

Cpn,

7/31/23

...

5,516

5,385

4962054.SQ.FTS.B,

Zero

Cpn,

7/31/23

...

8,398

7,839

4962222.SQ.FTS.B,

Zero

Cpn,

7/31/23

...

301

280

4962338.SQ.FTS.B,

Zero

Cpn,

7/31/23

...

5,795

5,659

4962523.SQ.FTS.B,

Zero

Cpn,

7/31/23

...

4,563

3,650

4962645.SQ.FTS.B,

Zero

Cpn,

7/31/23

...

4,592

4,397

4962805.SQ.FTS.B,

Zero

Cpn,

7/31/23

...

1,928

1,777

4962917.SQ.FTS.B,

Zero

Cpn,

7/31/23

...

28,983

28,004

Description

Principal

Amount

Value

Block,

Inc.

(continued)

4963338.SQ.FTS.B,

Zero

Cpn,

7/31/23

...

$

1,394

$

1,326

4963348.SQ.FTS.B,

Zero

Cpn,

7/31/23

...

988

946

4963361.SQ.FTS.B,

Zero

Cpn,

7/31/23

...

4,806

4,638

4963453.SQ.FTS.B,

Zero

Cpn,

7/31/23

...

8,728

8,539

4963567.SQ.FTS.B,

Zero

Cpn,

8/01/23

...

482

427

4963574.SQ.FTS.B,

Zero

Cpn,

8/01/23

...

5,453

5,175

4963645.SQ.FTS.B,

Zero

Cpn,

8/01/23

...

38,496

33,097

4964207.SQ.FTS.B,

Zero

Cpn,

8/01/23

...

872

779

4964227.SQ.FTS.B,

Zero

Cpn,

8/01/23

...

1,529

1,483

4964282.SQ.FTS.B,

Zero

Cpn,

8/01/23

...

6,479

6,337

4964492.SQ.FTS.B,

Zero

Cpn,

8/01/23

...

4,270

4,151

4964602.SQ.FTS.B,

Zero

Cpn,

8/01/23

...

296

290

4964610.SQ.FTS.B,

Zero

Cpn,

8/01/23

...

2,226

2,173

4964712.SQ.FTS.B,

Zero

Cpn,

8/01/23

...

104

100

4964732.SQ.FTS.B,

Zero

Cpn,

8/01/23

...

320

312

4964777.SQ.FTS.B,

Zero

Cpn,

8/01/23

...

2,056

2,010

4964870.SQ.FTS.B,

Zero

Cpn,

8/01/23

...

1,215

1,191

4964922.SQ.FTS.B,

Zero

Cpn,

8/01/23

...

7,350

7,092

4965006.SQ.FTS.B,

Zero

Cpn,

8/01/23

...

8,699

8,345

4965109.SQ.FTS.B,

Zero

Cpn,

8/01/23

...

1,662

1,607

4965186.SQ.FTS.B,

Zero

Cpn,

8/01/23

...

3,388

3,262

4965308.SQ.FTS.B,

Zero

Cpn,

8/01/23

...

796

696

4965430.SQ.FTS.B,

Zero

Cpn,

8/01/23

...

2,260

2,204

4965555.SQ.FTS.B,

Zero

Cpn,

8/01/23

...

2,341

2,226

4965603.SQ.FTS.B,

Zero

Cpn,

8/01/23

...

1,980

1,938

4966010.SQ.FTS.B,

Zero

Cpn,

8/02/23

...

13,264

12,912

4966222.SQ.FTS.B,

Zero

Cpn,

8/02/23

...

409

396

4966241.SQ.FTS.B,

Zero

Cpn,

8/02/23

...

2,065

2,007

4966278.SQ.FTS.B,

Zero

Cpn,

8/02/23

...

1,105

962

4966291.SQ.FTS.B,

Zero

Cpn,

8/02/23

...

1,578

1,461

4966662.SQ.FTS.B,

Zero

Cpn,

8/02/23

...

4,556

4,430

4966889.SQ.FTS.B,

Zero

Cpn,

8/02/23

...

1,104

888

4966892.SQ.FTS.B,

Zero

Cpn,

8/02/23

...

22,995

15,197

4967263.SQ.FTS.B,

Zero

Cpn,

8/02/23

...

392

385

4967406.SQ.FTS.B,

Zero

Cpn,

8/02/23

...

6,994

6,751

4967606.SQ.FTS.B,

Zero

Cpn,

8/02/23

...

4,648

4,552

4967768.SQ.FTS.B,

Zero

Cpn,

8/02/23

...

4,823

4,710

4967874.SQ.FTS.B,

Zero

Cpn,

8/02/23

...

6,630

5,782

4967975.SQ.FTS.B,

Zero

Cpn,

8/02/23

...

3,401

2,962

4968002.SQ.FTS.B,

Zero

Cpn,

8/02/23

...

1,643

1,601

4968181.SQ.FTS.B,

Zero

Cpn,

8/02/23

...

10,285

8,628

4968301.SQ.FTS.B,

Zero

Cpn,

8/02/23

...

4,750

4,637

4968433.SQ.FTS.B,

Zero

Cpn,

8/02/23

...

16,720

16,324

4970152.SQ.FTS.B,

Zero

Cpn,

8/03/23

...

28,636

27,980

4970876.SQ.FTS.B,

Zero

Cpn,

8/03/23

...

456

417

4970936.SQ.FTS.B,

Zero

Cpn,

8/03/23

...

4,560

4,447

4971094.SQ.FTS.B,

Zero

Cpn,

8/03/23

...

2,990

2,889

4971133.SQ.FTS.B,

Zero

Cpn,

8/03/23

...

2,689

2,522

4971242.SQ.FTS.B,

Zero

Cpn,

8/03/23

...

1,360

1,324

4971539.SQ.FTS.B,

Zero

Cpn,

8/03/23

...

997

904

4971572.SQ.FTS.B,

Zero

Cpn,

8/03/23

...

2,553

2,476

4971775.SQ.FTS.B,

Zero

Cpn,

8/03/23

...

462

452

4971818.SQ.FTS.B,

Zero

Cpn,

8/03/23

...

2,944

2,873

4971912.SQ.FTS.B,

Zero

Cpn,

8/03/23

...

770

752

4971952.SQ.FTS.B,

Zero

Cpn,

8/03/23

...

1,408

1,372

4972006.SQ.FTS.B,

Zero

Cpn,

8/03/23

...

1,288

1,244

4972038.SQ.FTS.B,

Zero

Cpn,

8/03/23

...

8,186

8,000

4972331.SQ.FTS.B,

Zero

Cpn,

8/03/23

...

16,569

15,117

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

182

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

4972648.SQ.FTS.B,

Zero

Cpn,

8/04/23

...

$

260

$

255

4972716.SQ.FTS.B,

Zero

Cpn,

8/04/23

...

14

14

4972784.SQ.FTS.B,

Zero

Cpn,

8/04/23

...

2,734

2,662

4972799.SQ.FTS.B,

Zero

Cpn,

8/04/23

...

2,426

2,356

4972812.SQ.FTS.B,

Zero

Cpn,

8/04/23

...

847

541

4972977.SQ.FTS.B,

Zero

Cpn,

8/04/23

...

2,290

2,243

4973056.SQ.FTS.B,

Zero

Cpn,

8/04/23

...

599

590

4973474.SQ.FTS.B,

Zero

Cpn,

8/04/23

...

2,600

2,512

4973526.SQ.FTS.B,

Zero

Cpn,

8/04/23

...

3,265

3,183

4973815.SQ.FTS.B,

Zero

Cpn,

8/04/23

...

4,569

4,389

4973879.SQ.FTS.B,

Zero

Cpn,

8/04/23

...

2,438

2,347

4973901.SQ.FTS.B,

Zero

Cpn,

8/04/23

...

1,987

1,513

4974003.SQ.FTS.B,

Zero

Cpn,

8/04/23

...

4,145

2,972

4974299.SQ.FTS.B,

Zero

Cpn,

8/04/23

...

1,176

1,090

4974341.SQ.FTS.B,

Zero

Cpn,

8/04/23

...

657

594

4974352.SQ.FTS.B,

Zero

Cpn,

8/04/23

...

5,500

5,169

4974417.SQ.FTS.B,

Zero

Cpn,

8/04/23

...

594

579

4974490.SQ.FTS.B,

Zero

Cpn,

8/04/23

...

1,949

1,897

4974597.SQ.FTS.B,

Zero

Cpn,

8/04/23

...

7,170

6,350

4974758.SQ.FTS.B,

Zero

Cpn,

8/04/23

...

26,960

26,279

4975022.SQ.FTS.B,

Zero

Cpn,

8/05/23

...

1,723

1,547

4975040.SQ.FTS.B,

Zero

Cpn,

8/05/23

...

15,652

15,285

4975238.SQ.FTS.B,

Zero

Cpn,

8/05/23

...

9,064

8,799

4975355.SQ.FTS.B,

Zero

Cpn,

8/05/23

...

2,700

2,189

4975426.SQ.FTS.B,

Zero

Cpn,

8/05/23

...

847

827

4975493.SQ.FTS.B,

Zero

Cpn,

8/05/23

...

1,090

1,060

4975613.SQ.FTS.B,

Zero

Cpn,

8/06/23

...

2,278

2,221

4975655.SQ.FTS.B,

Zero

Cpn,

8/06/23

...

575

528

4975664.SQ.FTS.B,

Zero

Cpn,

8/06/23

...

17,829

17,310

4975840.SQ.FTS.B,

Zero

Cpn,

8/06/23

...

325

301

4975901.SQ.FTS.B,

Zero

Cpn,

8/06/23

...

8,528

8,247

4976014.SQ.FTS.B,

Zero

Cpn,

8/06/23

...

6,150

5,426

4976064.SQ.FTS.B,

Zero

Cpn,

8/06/23

...

10,151

9,930

4976598.SQ.FTS.B,

Zero

Cpn,

8/07/23

...

1,484

1,452

4976720.SQ.FTS.B,

Zero

Cpn,

8/07/23

...

306

300

4976757.SQ.FTS.B,

Zero

Cpn,

8/07/23

...

1,988

1,746

4976834.SQ.FTS.B,

Zero

Cpn,

8/07/23

...

1,229

671

4976861.SQ.FTS.B,

Zero

Cpn,

8/07/23

...

312

307

4976894.SQ.FTS.B,

Zero

Cpn,

8/07/23

...

2,767

847

4976937.SQ.FTS.B,

Zero

Cpn,

8/07/23

...

3,183

2,285

4976965.SQ.FTS.B,

Zero

Cpn,

8/07/23

...

7,341

5,191

4977067.SQ.FTS.B,

Zero

Cpn,

8/07/23

...

12,008

11,703

4977295.SQ.FTS.B,

Zero

Cpn,

8/07/23

...

5,717

5,487

4977593.SQ.FTS.B,

Zero

Cpn,

8/07/23

...

333

327

4977623.SQ.FTS.B,

Zero

Cpn,

8/07/23

...

4,460

4,334

4978050.SQ.FTS.B,

Zero

Cpn,

8/07/23

...

595

359

4978056.SQ.FTS.B,

Zero

Cpn,

8/07/23

...

5,337

5,219

4978208.SQ.FTS.B,

Zero

Cpn,

8/07/23

...

2,139

2,085

4978254.SQ.FTS.B,

Zero

Cpn,

8/07/23

...

1,360

1,207

4978283.SQ.FTS.B,

Zero

Cpn,

8/07/23

...

2,915

2,840

4978325.SQ.FTS.B,

Zero

Cpn,

8/07/23

...

426

418

4978358.SQ.FTS.B,

Zero

Cpn,

8/07/23

...

2,780

2,703

4978391.SQ.FTS.B,

Zero

Cpn,

8/07/23

...

1,086

1,049

4978420.SQ.FTS.B,

Zero

Cpn,

8/07/23

...

9,313

8,867

4978537.SQ.FTS.B,

Zero

Cpn,

8/07/23

...

3,975

3,863

4978592.SQ.FTS.B,

Zero

Cpn,

8/07/23

...

207

200

4978603.SQ.FTS.B,

Zero

Cpn,

8/07/23

...

2,627

2,553

4978664.SQ.FTS.B,

Zero

Cpn,

8/07/23

...

2,072

1,873

Description

Principal

Amount

Value

Block,

Inc.

(continued)

4978690.SQ.FTS.B,

Zero

Cpn,

8/07/23

...

$

5,348

$

5,005

4978788.SQ.FTS.B,

Zero

Cpn,

8/07/23

...

19,782

19,323

4978983.SQ.FTS.B,

Zero

Cpn,

8/08/23

...

541

508

4979050.SQ.FTS.B,

Zero

Cpn,

8/08/23

...

421

413

4979073.SQ.FTS.B,

Zero

Cpn,

8/08/23

...

4,347

4,030

4979133.SQ.FTS.B,

Zero

Cpn,

8/08/23

...

1,088

1,066

4979186.SQ.FTS.B,

Zero

Cpn,

8/08/23

...

15,378

15,023

4979477.SQ.FTS.B,

Zero

Cpn,

8/08/23

...

670

509

4979490.SQ.FTS.B,

Zero

Cpn,

8/08/23

...

20,314

19,749

4979975.SQ.FTS.B,

Zero

Cpn,

8/08/23

...

5,054

4,558

4980055.SQ.FTS.B,

Zero

Cpn,

8/08/23

...

1,309

1,260

4980117.SQ.FTS.B,

Zero

Cpn,

8/08/23

...

5,304

5,148

4980236.SQ.FTS.B,

Zero

Cpn,

8/08/23

...

4,719

4,572

4980302.SQ.FTS.B,

Zero

Cpn,

8/08/23

...

9,545

8,725

4980401.SQ.FTS.B,

Zero

Cpn,

8/08/23

...

1,144

1,124

4980437.SQ.FTS.B,

Zero

Cpn,

8/08/23

...

928

875

4980462.SQ.FTS.B,

Zero

Cpn,

8/08/23

...

13,171

12,844

4980820.SQ.FTS.B,

Zero

Cpn,

8/08/23

...

3,005

2,913

4980841.SQ.FTS.B,

Zero

Cpn,

8/08/23

...

1,739

1,685

4980862.SQ.FTS.B,

Zero

Cpn,

8/08/23

...

341

333

4980891.SQ.FTS.B,

Zero

Cpn,

8/08/23

...

7,938

6,048

4980989.SQ.FTS.B,

Zero

Cpn,

8/08/23

...

518

499

4981019.SQ.FTS.B,

Zero

Cpn,

8/08/23

...

4,419

4,297

4981163.SQ.FTS.B,

Zero

Cpn,

8/09/23

...

569

549

4981245.SQ.FTS.B,

Zero

Cpn,

8/09/23

...

8,566

8,212

4981612.SQ.FTS.B,

Zero

Cpn,

8/09/23

...

2,600

2,527

4981675.SQ.FTS.B,

Zero

Cpn,

8/09/23

...

1,224

1,189

4981698.SQ.FTS.B,

Zero

Cpn,

8/09/23

...

7,978

7,716

4982034.SQ.FTS.B,

Zero

Cpn,

8/09/23

...

4,747

4,146

4982097.SQ.FTS.B,

Zero

Cpn,

8/09/23

...

5,217

5,058

4982210.SQ.FTS.B,

Zero

Cpn,

8/09/23

...

781

632

4982222.SQ.FTS.B,

Zero

Cpn,

8/09/23

...

3,959

3,856

4982303.SQ.FTS.B,

Zero

Cpn,

8/09/23

...

6,320

6,106

4982557.SQ.FTS.B,

Zero

Cpn,

8/09/23

...

3,258

3,150

4983091.SQ.FTS.B,

Zero

Cpn,

8/09/23

...

1,281

1,231

4983251.SQ.FTS.B,

Zero

Cpn,

8/09/23

...

2,965

2,844

4984871.SQ.FTS.B,

Zero

Cpn,

8/10/23

...

3,638

3,556

4984969.SQ.FTS.B,

Zero

Cpn,

8/10/23

...

1,747

1,699

4984992.SQ.FTS.B,

Zero

Cpn,

8/10/23

...

2,671

2,356

4985006.SQ.FTS.B,

Zero

Cpn,

8/10/23

...

14,845

14,524

4985389.SQ.FTS.B,

Zero

Cpn,

8/10/23

...

1,519

1,246

4985543.SQ.FTS.B,

Zero

Cpn,

8/10/23

...

1,789

1,741

4985573.SQ.FTS.B,

Zero

Cpn,

8/10/23

...

14,178

8,112

4985801.SQ.FTS.B,

Zero

Cpn,

8/10/23

...

3,551

3,297

4985891.SQ.FTS.B,

Zero

Cpn,

8/10/23

...

730

712

4986137.SQ.FTS.B,

Zero

Cpn,

8/10/23

...

1,092

875

4986147.SQ.FTS.B,

Zero

Cpn,

8/10/23

...

3,510

3,369

4986299.SQ.FTS.B,

Zero

Cpn,

8/10/23

...

2,304

2,237

4986767.SQ.FTS.B,

Zero

Cpn,

8/10/23

...

977

816

4986850.SQ.FTS.B,

Zero

Cpn,

8/10/23

...

3,914

3,744

4986950.SQ.FTS.B,

Zero

Cpn,

8/10/23

...

1,030

669

4986992.SQ.FTS.B,

Zero

Cpn,

8/10/23

...

7,077

6,874

4987394.SQ.FTS.B,

Zero

Cpn,

8/11/23

...

1,931

1,883

4987448.SQ.FTS.B,

Zero

Cpn,

8/11/23

...

2,310

2,171

4987826.SQ.FTS.B,

Zero

Cpn,

8/11/23

...

8,083

7,764

4988005.SQ.FTS.B,

Zero

Cpn,

8/11/23

...

8,392

7,775

4988350.SQ.FTS.B,

Zero

Cpn,

8/11/23

...

9,317

9,051

4989246.SQ.FTS.B,

Zero

Cpn,

8/11/23

...

3,236

2,652

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

183

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

4989680.SQ.FTS.B,

Zero

Cpn,

8/11/23

...

$

6,187

$

4,463

4989813.SQ.FTS.B,

Zero

Cpn,

8/11/23

...

1,538

1,495

4989835.SQ.FTS.B,

Zero

Cpn,

8/11/23

...

4,272

4,150

4989875.SQ.FTS.B,

Zero

Cpn,

8/11/23

...

11,913

11,526

4990083.SQ.FTS.B,

Zero

Cpn,

8/11/23

...

12,241

11,189

4990287.SQ.FTS.B,

Zero

Cpn,

8/11/23

...

3,584

3,488

4990326.SQ.FTS.B,

Zero

Cpn,

8/11/23

...

1,578

1,507

4990343.SQ.FTS.B,

Zero

Cpn,

8/12/23

...

2,634

2,567

4990374.SQ.FTS.B,

Zero

Cpn,

8/12/23

...

701

661

4990405.SQ.FTS.B,

Zero

Cpn,

8/12/23

...

7,834

7,258

4990450.SQ.FTS.B,

Zero

Cpn,

8/12/23

...

3,186

3,080

4990492.SQ.FTS.B,

Zero

Cpn,

8/12/23

...

5,066

4,900

4990525.SQ.FTS.B,

Zero

Cpn,

8/12/23

...

5,669

5,441

4990561.SQ.FTS.B,

Zero

Cpn,

8/12/23

...

808

750

4990566.SQ.FTS.B,

Zero

Cpn,

8/12/23

...

571

552

4990575.SQ.FTS.B,

Zero

Cpn,

8/12/23

...

1,425

1,385

4990584.SQ.FTS.B,

Zero

Cpn,

8/12/23

...

2,030

1,971

4990601.SQ.FTS.B,

Zero

Cpn,

8/12/23

...

6,660

6,457

4990659.SQ.FTS.B,

Zero

Cpn,

8/12/23

...

3,024

2,918

4990687.SQ.FTS.B,

Zero

Cpn,

8/12/23

...

3,037

2,981

4990803.SQ.FTS.B,

Zero

Cpn,

8/12/23

...

3,221

2,346

4990825.SQ.FTS.B,

Zero

Cpn,

8/12/23

...

1,042

995

4990843.SQ.FTS.B,

Zero

Cpn,

8/12/23

...

2,462

2,219

4990860.SQ.FTS.B,

Zero

Cpn,

8/12/23

...

5,235

5,017

4990882.SQ.FTS.B,

Zero

Cpn,

8/12/23

...

2,793

2,712

4990909.SQ.FTS.B,

Zero

Cpn,

8/12/23

...

546

514

4990927.SQ.FTS.B,

Zero

Cpn,

8/12/23

...

2,919

1,629

4990972.SQ.FTS.B,

Zero

Cpn,

8/13/23

...

3,344

3,229

4991000.SQ.FTS.B,

Zero

Cpn,

8/13/23

...

2,098

2,029

4991019.SQ.FTS.B,

Zero

Cpn,

8/13/23

...

914

887

4991030.SQ.FTS.B,

Zero

Cpn,

8/13/23

...

1,558

1,518

4991044.SQ.FTS.B,

Zero

Cpn,

8/13/23

...

809

786

4991055.SQ.FTS.B,

Zero

Cpn,

8/13/23

...

2,330

2,253

4991077.SQ.FTS.B,

Zero

Cpn,

8/13/23

...

5,026

4,829

4991127.SQ.FTS.B,

Zero

Cpn,

8/13/23

...

1,297

1,253

4991144.SQ.FTS.B,

Zero

Cpn,

8/13/23

...

371

285

4991162.SQ.FTS.B,

Zero

Cpn,

8/13/23

...

5,956

4,505

4991183.SQ.FTS.B,

Zero

Cpn,

8/13/23

...

1,555

1,500

4991198.SQ.FTS.B,

Zero

Cpn,

8/13/23

...

881

858

4991224.SQ.FTS.B,

Zero

Cpn,

8/13/23

...

600

579

4991278.SQ.FTS.B,

Zero

Cpn,

8/13/23

...

2,088

2,032

4991300.SQ.FTS.B,

Zero

Cpn,

8/13/23

...

871

854

4991320.SQ.FTS.B,

Zero

Cpn,

8/13/23

...

3,592

3,285

4991349.SQ.FTS.B,

Zero

Cpn,

8/13/23

...

3,405

3,307

4991400.SQ.FTS.B,

Zero

Cpn,

8/13/23

...

5,892

5,506

4991452.SQ.FTS.B,

Zero

Cpn,

8/13/23

...

2,756

2,683

4991483.SQ.FTS.B,

Zero

Cpn,

8/13/23

...

937

907

4991531.SQ.FTS.B,

Zero

Cpn,

8/13/23

...

15,069

14,658

4992150.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

564

527

4992187.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

748

727

4992213.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

4,488

4,379

4992309.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

2,048

1,873

4992352.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

3,176

3,017

4992503.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

2,875

2,751

4992539.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

3,844

3,398

4992574.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

976

946

4992636.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

2,805

2,718

4992825.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

11,770

10,907

Description

Principal

Amount

Value

Block,

Inc.

(continued)

4993016.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

$

1,625

$

1,595

4993178.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

1,069

1,039

4993205.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

3,221

3,147

4993286.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

1,167

978

4993377.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

1,102

782

4993446.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

1,111

1,086

4993581.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

1,908

1,840

4993644.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

14,830

14,364

4993884.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

2,379

1,221

4993914.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

1,684

1,639

4994024.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

11,755

11,407

4994190.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

7,728

7,551

4994353.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

820

802

4994392.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

836

820

4994413.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

726

711

4994460.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

2,350

2,294

4994489.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

392

383

4994496.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

67

65

4994504.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

1,453

1,006

4994506.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

1,519

1,484

4994536.SQ.FTS.B,

Zero

Cpn,

8/14/23

...

673

489

4994636.SQ.FTS.B,

Zero

Cpn,

8/15/23

...

1,945

1,191

4994717.SQ.FTS.B,

Zero

Cpn,

8/15/23

...

3,992

3,907

4994785.SQ.FTS.B,

Zero

Cpn,

8/15/23

...

1,193

1,163

4994810.SQ.FTS.B,

Zero

Cpn,

8/15/23

...

1,694

1,650

4994870.SQ.FTS.B,

Zero

Cpn,

8/15/23

...

13,542

11,986

4995192.SQ.FTS.B,

Zero

Cpn,

8/15/23

...

514

502

4995197.SQ.FTS.B,

Zero

Cpn,

8/15/23

...

2,206

2,152

4995284.SQ.FTS.B,

Zero

Cpn,

8/15/23

...

5,613

5,386

4995398.SQ.FTS.B,

Zero

Cpn,

8/15/23

...

1,560

1,473

4995476.SQ.FTS.B,

Zero

Cpn,

8/15/23

...

657

644

4995558.SQ.FTS.B,

Zero

Cpn,

8/15/23

...

895

788

4997425.SQ.FTS.B,

Zero

Cpn,

8/15/23

...

3,033

2,965

4998618.SQ.FTS.B,

Zero

Cpn,

8/15/23

...

2,695

2,613

4999722.SQ.FTS.B,

Zero

Cpn,

8/15/23

...

3,131

2,357

4999801.SQ.FTS.B,

Zero

Cpn,

8/15/23

...

7,631

4,419

4999902.SQ.FTS.B,

Zero

Cpn,

8/15/23

...

1,743

1,689

5000094.SQ.FTS.B,

Zero

Cpn,

8/15/23

...

917

897

5000145.SQ.FTS.B,

Zero

Cpn,

8/15/23

...

5,540

5,408

5000599.SQ.FTS.B,

Zero

Cpn,

8/15/23

...

1,819

1,774

5000746.SQ.FTS.B,

Zero

Cpn,

8/15/23

...

2,123

2,012

5000851.SQ.FTS.B,

Zero

Cpn,

8/15/23

...

4,424

4,158

5000960.SQ.FTS.B,

Zero

Cpn,

8/15/23

...

754

653

5001108.SQ.FTS.B,

Zero

Cpn,

8/15/23

...

7,438

7,244

5002002.SQ.FTS.B,

Zero

Cpn,

8/15/23

...

8,092

7,633

5002482.SQ.FTS.B,

Zero

Cpn,

8/15/23

...

1,873

1,826

5002638.SQ.FTS.B,

Zero

Cpn,

8/15/23

...

2,886

2,541

5002740.SQ.FTS.B,

Zero

Cpn,

8/15/23

...

1,374

1,337

5002851.SQ.FTS.B,

Zero

Cpn,

8/15/23

...

2,134

1,892

5003760.SQ.FTS.B,

Zero

Cpn,

8/15/23

...

3,358

2,780

5003871.SQ.FTS.B,

Zero

Cpn,

8/15/23

...

4,303

4,184

5004038.SQ.FTS.B,

Zero

Cpn,

8/15/23

...

2,009

1,956

5004969.SQ.FTS.B,

Zero

Cpn,

8/16/23

...

688

641

5004982.SQ.FTS.B,

Zero

Cpn,

8/16/23

...

1,722

1,642

5005552.SQ.FTS.B,

Zero

Cpn,

8/16/23

...

625

595

5005573.SQ.FTS.B,

Zero

Cpn,

8/16/23

...

7,683

7,476

5006355.SQ.FTS.B,

Zero

Cpn,

8/16/23

...

70

68

5006441.SQ.FTS.B,

Zero

Cpn,

8/16/23

...

352

347

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

184

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5006613.SQ.FTS.B,

Zero

Cpn,

8/16/23

...

$

6,403

$

6,206

5006791.SQ.FTS.B,

Zero

Cpn,

8/16/23

...

547

516

5006803.SQ.FTS.B,

Zero

Cpn,

8/16/23

...

3,665

3,554

5007045.SQ.FTS.B,

Zero

Cpn,

8/16/23

...

23,148

20,445

5007302.SQ.FTS.B,

Zero

Cpn,

8/16/23

...

680

663

5007336.SQ.FTS.B,

Zero

Cpn,

8/16/23

...

1,660

1,621

5007366.SQ.FTS.B,

Zero

Cpn,

8/16/23

...

14,600

14,265

5007980.SQ.FTS.B,

Zero

Cpn,

8/16/23

...

649

626

5008010.SQ.FTS.B,

Zero

Cpn,

8/16/23

...

9,214

8,957

5008409.SQ.FTS.B,

Zero

Cpn,

8/16/23

...

7,096

6,881

5015568.SQ.FTS.B,

Zero

Cpn,

8/17/23

...

476

457

5015596.SQ.FTS.B,

Zero

Cpn,

8/17/23

...

24,812

24,041

5015907.SQ.FTS.B,

Zero

Cpn,

8/17/23

...

7,152

6,962

5016013.SQ.FTS.B,

Zero

Cpn,

8/17/23

...

1,725

1,634

5016128.SQ.FTS.B,

Zero

Cpn,

8/17/23

...

15,606

15,229

5017280.SQ.FTS.B,

Zero

Cpn,

8/17/23

...

9,813

4,964

5017585.SQ.FTS.B,

Zero

Cpn,

8/17/23

...

2,273

2,194

5017684.SQ.FTS.B,

Zero

Cpn,

8/17/23

...

2,009

1,865

5018131.SQ.FTS.B,

Zero

Cpn,

8/17/23

...

2,846

2,583

5018207.SQ.FTS.B,

Zero

Cpn,

8/17/23

...

7,218

7,044

5018537.SQ.FTS.B,

Zero

Cpn,

8/17/23

...

2,225

2,154

5018609.SQ.FTS.B,

Zero

Cpn,

8/17/23

...

4,528

4,389

5018751.SQ.FTS.B,

Zero

Cpn,

8/17/23

...

4,639

4,049

5018804.SQ.FTS.B,

Zero

Cpn,

8/17/23

...

4,191

4,025

5018907.SQ.FTS.B,

Zero

Cpn,

8/17/23

...

2,483

2,313

5018960.SQ.FTS.B,

Zero

Cpn,

8/17/23

...

1,436

1,344

5019012.SQ.FTS.B,

Zero

Cpn,

8/17/23

...

10,356

10,046

5019229.SQ.FTS.B,

Zero

Cpn,

8/17/23

...

8,142

7,861

5019547.SQ.FTS.B,

Zero

Cpn,

8/17/23

...

4,727

4,453

5019634.SQ.FTS.B,

Zero

Cpn,

8/17/23

...

5,485

5,344

5019821.SQ.FTS.B,

Zero

Cpn,

8/17/23

...

844

702

5019859.SQ.FTS.B,

Zero

Cpn,

8/17/23

...

630

601

5019961.SQ.FTS.B,

Zero

Cpn,

8/17/23

...

3,851

3,545

5020042.SQ.FTS.B,

Zero

Cpn,

8/17/23

...

2,701

2,623

5020133.SQ.FTS.B,

Zero

Cpn,

8/17/23

...

3,582

3,412

5020372.SQ.FTS.B,

Zero

Cpn,

8/18/23

...

4,140

4,021

5020719.SQ.FTS.B,

Zero

Cpn,

8/18/23

...

4,549

4,236

5020839.SQ.FTS.B,

Zero

Cpn,

8/18/23

...

1,896

1,834

5020911.SQ.FTS.B,

Zero

Cpn,

8/18/23

...

3,110

2,931

5021008.SQ.FTS.B,

Zero

Cpn,

8/18/23

...

1,937

1,675

5021044.SQ.FTS.B,

Zero

Cpn,

8/18/23

...

32,494

30,538

5021884.SQ.FTS.B,

Zero

Cpn,

8/18/23

...

896

879

5022312.SQ.FTS.B,

Zero

Cpn,

8/18/23

...

2,421

2,343

5022949.SQ.FTS.B,

Zero

Cpn,

8/18/23

...

6,469

6,124

5023337.SQ.FTS.B,

Zero

Cpn,

8/18/23

...

1,117

950

5024121.SQ.FTS.B,

Zero

Cpn,

8/18/23

...

2,421

2,285

5024258.SQ.FTS.B,

Zero

Cpn,

8/18/23

...

2,421

2,352

5024347.SQ.FTS.B,

Zero

Cpn,

8/18/23

...

2,526

966

5024419.SQ.FTS.B,

Zero

Cpn,

8/18/23

...

4,434

3,811

5024482.SQ.FTS.B,

Zero

Cpn,

8/18/23

...

7,858

6,865

5025121.SQ.FTS.B,

Zero

Cpn,

8/18/23

...

1,168

1,088

5025260.SQ.FTS.B,

Zero

Cpn,

8/18/23

...

728

628

5025268.SQ.FTS.B,

Zero

Cpn,

8/18/23

...

258

223

5025312.SQ.FTS.B,

Zero

Cpn,

8/18/23

...

1,477

1,438

5025377.SQ.FTS.B,

Zero

Cpn,

8/18/23

...

7,156

6,836

5025506.SQ.FTS.B,

Zero

Cpn,

8/18/23

...

397

390

5025535.SQ.FTS.B,

Zero

Cpn,

8/18/23

...

4,759

4,242

5025655.SQ.FTS.B,

Zero

Cpn,

8/18/23

...

1,488

1,438

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5025712.SQ.FTS.B,

Zero

Cpn,

8/18/23

...

$

2,236

$

2,100

5025753.SQ.FTS.B,

Zero

Cpn,

8/19/23

...

13,567

9,390

5025786.SQ.FTS.B,

Zero

Cpn,

8/19/23

...

24,563

23,780

5025914.SQ.FTS.B,

Zero

Cpn,

8/19/23

...

2,333

2,257

5025938.SQ.FTS.B,

Zero

Cpn,

8/19/23

...

2,216

2,056

5025951.SQ.FTS.B,

Zero

Cpn,

8/19/23

...

1,218

1,187

5025985.SQ.FTS.B,

Zero

Cpn,

8/19/23

...

1,326

1,267

5025999.SQ.FTS.B,

Zero

Cpn,

8/19/23

...

4,449

3,893

5026149.SQ.FTS.B,

Zero

Cpn,

8/19/23

...

217

212

5026153.SQ.FTS.B,

Zero

Cpn,

8/19/23

...

970

945

5026173.SQ.FTS.B,

Zero

Cpn,

8/19/23

...

1,057

1,030

5026185.SQ.FTS.B,

Zero

Cpn,

8/19/23

...

1,356

1,086

5026197.SQ.FTS.B,

Zero

Cpn,

8/19/23

...

2,597

2,487

5026217.SQ.FTS.B,

Zero

Cpn,

8/19/23

...

412

364

5026255.SQ.FTS.B,

Zero

Cpn,

8/19/23

...

1,551

1,478

5026282.SQ.FTS.B,

Zero

Cpn,

8/19/23

...

915

891

5026291.SQ.FTS.B,

Zero

Cpn,

8/19/23

...

9,648

9,357

5026378.SQ.FTS.B,

Zero

Cpn,

8/19/23

...

2,429

2,103

5026387.SQ.FTS.B,

Zero

Cpn,

8/19/23

...

2,232

951

5026407.SQ.FTS.B,

Zero

Cpn,

8/20/23

...

3,750

3,639

5026437.SQ.FTS.B,

Zero

Cpn,

8/20/23

...

2,147

2,092

5026451.SQ.FTS.B,

Zero

Cpn,

8/20/23

...

1,372

1,339

5026476.SQ.FTS.B,

Zero

Cpn,

8/20/23

...

1,192

1,010

5026485.SQ.FTS.B,

Zero

Cpn,

8/20/23

...

3,547

3,434

5026563.SQ.FTS.B,

Zero

Cpn,

8/20/23

...

1,342

736

5026633.SQ.FTS.B,

Zero

Cpn,

8/20/23

...

3,238

2,872

5026657.SQ.FTS.B,

Zero

Cpn,

8/20/23

...

3,686

3,598

5026683.SQ.FTS.B,

Zero

Cpn,

8/20/23

...

4,597

3,416

5026719.SQ.FTS.B,

Zero

Cpn,

8/20/23

...

2,928

2,854

5026760.SQ.FTS.B,

Zero

Cpn,

8/20/23

...

2,922

2,143

5026781.SQ.FTS.B,

Zero

Cpn,

8/20/23

...

1,878

1,803

5026872.SQ.FTS.B,

Zero

Cpn,

8/20/23

...

2,634

2,399

5026885.SQ.FTS.B,

Zero

Cpn,

8/20/23

...

8,473

8,209

5026972.SQ.FTS.B,

Zero

Cpn,

8/21/23

...

1,244

1,208

5026991.SQ.FTS.B,

Zero

Cpn,

8/21/23

...

17,646

16,918

5027120.SQ.FTS.B,

Zero

Cpn,

8/21/23

...

296

272

5027141.SQ.FTS.B,

Zero

Cpn,

8/21/23

...

1,186

1,133

5027152.SQ.FTS.B,

Zero

Cpn,

8/21/23

...

2,038

1,990

5027176.SQ.FTS.B,

Zero

Cpn,

8/21/23

...

918

899

5027200.SQ.FTS.B,

Zero

Cpn,

8/21/23

...

1,069

744

5027203.SQ.FTS.B,

Zero

Cpn,

8/21/23

...

268

263

5027260.SQ.FTS.B,

Zero

Cpn,

8/21/23

...

18,860

18,281

5027400.SQ.FTS.B,

Zero

Cpn,

8/21/23

...

1,516

1,038

5027449.SQ.FTS.B,

Zero

Cpn,

8/21/23

...

3,969

2,969

5027464.SQ.FTS.B,

Zero

Cpn,

8/21/23

...

5,006

4,535

5027500.SQ.FTS.B,

Zero

Cpn,

8/21/23

...

4,198

3,893

5027568.SQ.FTS.B,

Zero

Cpn,

8/21/23

...

4,919

4,745

5027603.SQ.FTS.B,

Zero

Cpn,

8/21/23

...

1,784

1,713

5027614.SQ.FTS.B,

Zero

Cpn,

8/21/23

...

857

838

5027639.SQ.FTS.B,

Zero

Cpn,

8/21/23

...

1,912

1,869

5027666.SQ.FTS.B,

Zero

Cpn,

8/21/23

...

2,432

2,364

5027686.SQ.FTS.B,

Zero

Cpn,

8/21/23

...

903

883

5027697.SQ.FTS.B,

Zero

Cpn,

8/21/23

...

4,936

4,767

5027886.SQ.FTS.B,

Zero

Cpn,

8/22/23

...

464

454

5027937.SQ.FTS.B,

Zero

Cpn,

8/22/23

...

5,716

3,149

5028084.SQ.FTS.B,

Zero

Cpn,

8/22/23

...

2,242

2,165

5028224.SQ.FTS.B,

Zero

Cpn,

8/22/23

...

1,038

1,010

5028285.SQ.FTS.B,

Zero

Cpn,

8/22/23

...

3,715

2,666

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

185

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5028532.SQ.FTS.B,

Zero

Cpn,

8/22/23

...

$

1,349

$

1,305

5028662.SQ.FTS.B,

Zero

Cpn,

8/22/23

...

294

281

5028804.SQ.FTS.B,

Zero

Cpn,

8/22/23

...

365

358

5029259.SQ.FTS.B,

Zero

Cpn,

8/22/23

...

4,812

4,701

5029492.SQ.FTS.B,

Zero

Cpn,

8/22/23

...

2,222

2,164

5030158.SQ.FTS.B,

Zero

Cpn,

8/22/23

...

15,782

15,425

5030564.SQ.FTS.B,

Zero

Cpn,

8/22/23

...

37,363

35,045

5031130.SQ.FTS.B,

Zero

Cpn,

8/22/23

...

40,626

37,780

5031604.SQ.FTS.B,

Zero

Cpn,

8/22/23

...

2,944

2,876

5031727.SQ.FTS.B,

Zero

Cpn,

8/22/23

...

5,406

5,253

5031870.SQ.FTS.B,

Zero

Cpn,

8/22/23

...

4,326

4,109

5031914.SQ.FTS.B,

Zero

Cpn,

8/22/23

...

1,401

1,361

5031942.SQ.FTS.B,

Zero

Cpn,

8/22/23

...

3,861

3,779

5032240.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

2,987

2,900

5032349.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

1,941

1,898

5032505.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

8,400

7,765

5032619.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

3,292

3,224

5032753.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

314

295

5032763.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

1,196

1,153

5032810.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

1,088

1,039

5033889.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

3,888

3,667

5033977.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

3,249

3,091

5034171.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

2,988

2,656

5034217.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

1,212

1,189

5034285.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

10,442

9,296

5034432.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

1,900

1,570

5034542.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

5,293

4,975

5035120.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

7,788

7,600

5035269.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

6,186

5,995

5035367.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

10,153

9,826

5035446.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

2,083

2,017

5035479.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

9,095

8,711

5035524.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

1,136

1,107

5035533.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

5,241

4,980

5035615.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

2,052

2,001

5035644.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

772

755

5035673.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

7,038

6,838

5035768.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

414

366

5035879.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

1,053

956

5035886.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

1,192

1,171

5035962.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

1,824

1,694

5035972.SQ.FTS.B,

Zero

Cpn,

8/23/23

...

1,372

1,321

5037791.SQ.FTS.B,

Zero

Cpn,

8/24/23

...

7,515

6,690

5037885.SQ.FTS.B,

Zero

Cpn,

8/24/23

...

10,799

8,330

5037924.SQ.FTS.B,

Zero

Cpn,

8/24/23

...

2,128

2,066

5037963.SQ.FTS.B,

Zero

Cpn,

8/24/23

...

450

417

5037983.SQ.FTS.B,

Zero

Cpn,

8/24/23

...

9,839

9,564

5038130.SQ.FTS.B,

Zero

Cpn,

8/24/23

...

2,179

2,101

5038220.SQ.FTS.B,

Zero

Cpn,

8/24/23

...

9,745

9,490

5038578.SQ.FTS.B,

Zero

Cpn,

8/24/23

...

1,562

1,392

5038602.SQ.FTS.B,

Zero

Cpn,

8/24/23

...

6,224

6,070

5038759.SQ.FTS.B,

Zero

Cpn,

8/24/23

...

11,064

10,806

5039080.SQ.FTS.B,

Zero

Cpn,

8/24/23

...

22,252

20,101

5039324.SQ.FTS.B,

Zero

Cpn,

8/24/23

...

496

416

5039365.SQ.FTS.B,

Zero

Cpn,

8/24/23

...

5,789

4,340

5039402.SQ.FTS.B,

Zero

Cpn,

8/24/23

...

2,534

2,455

5039429.SQ.FTS.B,

Zero

Cpn,

8/24/23

...

695

676

5039453.SQ.FTS.B,

Zero

Cpn,

8/24/23

...

694

576

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5039556.SQ.FTS.B,

Zero

Cpn,

8/24/23

...

$

1,241

$

1,212

5039576.SQ.FTS.B,

Zero

Cpn,

8/24/23

...

5,336

5,015

5039629.SQ.FTS.B,

Zero

Cpn,

8/24/23

...

507

498

5039742.SQ.FTS.B,

Zero

Cpn,

8/24/23

...

7,358

6,974

5040014.SQ.FTS.B,

Zero

Cpn,

8/24/23

...

22,535

21,600

5040250.SQ.FTS.B,

Zero

Cpn,

8/24/23

...

1,387

1,354

5040259.SQ.FTS.B,

Zero

Cpn,

8/24/23

...

15,061

14,626

5040391.SQ.FTS.B,

Zero

Cpn,

8/24/23

...

4,789

4,683

5040472.SQ.FTS.B,

Zero

Cpn,

8/24/23

...

1,963

1,922

5040637.SQ.FTS.B,

Zero

Cpn,

8/25/23

...

3,706

3,487

5040892.SQ.FTS.B,

Zero

Cpn,

8/25/23

...

235

229

5041024.SQ.FTS.B,

Zero

Cpn,

8/25/23

...

11,704

11,131

5041156.SQ.FTS.B,

Zero

Cpn,

8/25/23

...

2,433

2,337

5041230.SQ.FTS.B,

Zero

Cpn,

8/25/23

...

3,113

3,031

5041320.SQ.FTS.B,

Zero

Cpn,

8/25/23

...

6,869

5,669

5041585.SQ.FTS.B,

Zero

Cpn,

8/25/23

...

2,436

1,826

5041635.SQ.FTS.B,

Zero

Cpn,

8/25/23

...

1,673

1,628

5041669.SQ.FTS.B,

Zero

Cpn,

8/25/23

...

4,444

4,249

5041764.SQ.FTS.B,

Zero

Cpn,

8/25/23

...

1,457

1,345

5042175.SQ.FTS.B,

Zero

Cpn,

8/25/23

...

32,206

30,010

5042710.SQ.FTS.B,

Zero

Cpn,

8/25/23

...

3,745

3,634

5042808.SQ.FTS.B,

Zero

Cpn,

8/25/23

...

1,616

1,547

5042834.SQ.FTS.B,

Zero

Cpn,

8/25/23

...

13,360

12,996

5043009.SQ.FTS.B,

Zero

Cpn,

8/25/23

...

2,371

2,297

5043038.SQ.FTS.B,

Zero

Cpn,

8/25/23

...

1,970

1,834

5043057.SQ.FTS.B,

Zero

Cpn,

8/25/23

...

2,798

2,726

5043118.SQ.FTS.B,

Zero

Cpn,

8/25/23

...

21,071

20,592

5043340.SQ.FTS.B,

Zero

Cpn,

8/26/23

...

1,866

1,240

5043359.SQ.FTS.B,

Zero

Cpn,

8/26/23

...

1,300

1,101

5043368.SQ.FTS.B,

Zero

Cpn,

8/26/23

...

4,403

4,293

5043406.SQ.FTS.B,

Zero

Cpn,

8/26/23

...

32,230

31,288

5043652.SQ.FTS.B,

Zero

Cpn,

8/26/23

...

10,544

10,173

5043737.SQ.FTS.B,

Zero

Cpn,

8/26/23

...

1,067

1,043

5043756.SQ.FTS.B,

Zero

Cpn,

8/26/23

...

1,304

945

5043828.SQ.FTS.B,

Zero

Cpn,

8/26/23

...

1,986

1,932

5043851.SQ.FTS.B,

Zero

Cpn,

8/26/23

...

600

403

5043857.SQ.FTS.B,

Zero

Cpn,

8/26/23

...

1,186

1,162

5043908.SQ.FTS.B,

Zero

Cpn,

8/26/23

...

13,493

12,921

5044042.SQ.FTS.B,

Zero

Cpn,

8/27/23

...

6,893

6,607

5044121.SQ.FTS.B,

Zero

Cpn,

8/27/23

...

1,484

1,439

5044137.SQ.FTS.B,

Zero

Cpn,

8/27/23

...

1,952

1,787

5044159.SQ.FTS.B,

Zero

Cpn,

8/27/23

...

563

495

5044168.SQ.FTS.B,

Zero

Cpn,

8/27/23

...

2,206

2,134

5044187.SQ.FTS.B,

Zero

Cpn,

8/27/23

...

2,380

2,315

5044219.SQ.FTS.B,

Zero

Cpn,

8/27/23

...

729

705

5044271.SQ.FTS.B,

Zero

Cpn,

8/27/23

...

10,024

7,561

5044352.SQ.FTS.B,

Zero

Cpn,

8/27/23

...

8,942

8,114

5044422.SQ.FTS.B,

Zero

Cpn,

8/27/23

...

12,994

12,217

5044555.SQ.FTS.B,

Zero

Cpn,

8/27/23

...

3,185

3,100

5044612.SQ.FTS.B,

Zero

Cpn,

8/27/23

...

491

451

5044662.SQ.FTS.B,

Zero

Cpn,

8/27/23

...

1,901

1,859

5045016.SQ.FTS.B,

Zero

Cpn,

8/28/23

...

7,249

6,992

5045398.SQ.FTS.B,

Zero

Cpn,

8/28/23

...

9,157

8,360

5045615.SQ.FTS.B,

Zero

Cpn,

8/28/23

...

3,950

3,826

5045743.SQ.FTS.B,

Zero

Cpn,

8/28/23

...

6,443

6,267

5045876.SQ.FTS.B,

Zero

Cpn,

8/28/23

...

8,380

6,191

5045948.SQ.FTS.B,

Zero

Cpn,

8/28/23

...

3,021

2,939

5045971.SQ.FTS.B,

Zero

Cpn,

8/28/23

...

611

600

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

186

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5046164.SQ.FTS.B,

Zero

Cpn,

8/28/23

...

$

2,686

$

1,303

5047218.SQ.FTS.B,

Zero

Cpn,

8/28/23

...

1,785

1,691

5047260.SQ.FTS.B,

Zero

Cpn,

8/28/23

...

1,337

1,300

5047487.SQ.FTS.B,

Zero

Cpn,

8/28/23

...

2,153

2,080

5047652.SQ.FTS.B,

Zero

Cpn,

8/28/23

...

382

377

5047780.SQ.FTS.B,

Zero

Cpn,

8/28/23

...

2,029

1,954

5047833.SQ.FTS.B,

Zero

Cpn,

8/28/23

...

3,738

3,579

5047949.SQ.FTS.B,

Zero

Cpn,

9/01/23

...

9,163

8,615

5048026.SQ.FTS.B,

Zero

Cpn,

9/01/23

...

4,143

3,869

5048061.SQ.FTS.B,

Zero

Cpn,

9/01/23

...

19,957

19,286

5048228.SQ.FTS.B,

Zero

Cpn,

9/01/23

...

797

646

5048231.SQ.FTS.B,

Zero

Cpn,

9/01/23

...

2,657

2,567

5048261.SQ.FTS.B,

Zero

Cpn,

9/01/23

...

420

395

5048269.SQ.FTS.B,

Zero

Cpn,

9/01/23

...

4,456

4,315

5048653.SQ.FTS.B,

Zero

Cpn,

9/01/23

...

2,213

2,135

5048674.SQ.FTS.B,

Zero

Cpn,

9/01/23

...

5,399

5,264

5049433.SQ.FTS.B,

Zero

Cpn,

9/01/23

...

2,322

1,938

5049530.SQ.FTS.B,

Zero

Cpn,

9/01/23

...

1,553

1,511

5049552.SQ.FTS.B,

Zero

Cpn,

9/01/23

...

3,513

3,414

5049597.SQ.FTS.B,

Zero

Cpn,

9/01/23

...

2,016

1,954

5049625.SQ.FTS.B,

Zero

Cpn,

9/01/23

...

5,059

4,109

5049730.SQ.FTS.B,

Zero

Cpn,

9/01/23

...

1,564

1,526

5049815.SQ.FTS.B,

Zero

Cpn,

9/01/23

...

500

460

5049827.SQ.FTS.B,

Zero

Cpn,

9/01/23

...

5,472

2,583

5049874.SQ.FTS.B,

Zero

Cpn,

9/01/23

...

4,627

4,526

5049985.SQ.FTS.B,

Zero

Cpn,

9/01/23

...

205

196

5050002.SQ.FTS.B,

Zero

Cpn,

9/01/23

...

6,682

6,509

5050162.SQ.FTS.B,

Zero

Cpn,

9/01/23

...

4,454

4,271

5050277.SQ.FTS.B,

Zero

Cpn,

9/01/23

...

838

804

5050370.SQ.FTS.B,

Zero

Cpn,

9/01/23

...

44,191

39,306

5050947.SQ.FTS.B,

Zero

Cpn,

9/01/23

...

70

69

5050987.SQ.FTS.B,

Zero

Cpn,

9/01/23

...

1,153

1,121

5051008.SQ.FTS.B,

Zero

Cpn,

9/01/23

...

3,599

3,386

5051202.SQ.FTS.B,

Zero

Cpn,

9/02/23

...

987

933

5051218.SQ.FTS.B,

Zero

Cpn,

9/02/23

...

6,777

6,269

5051275.SQ.FTS.B,

Zero

Cpn,

9/02/23

...

2,279

1,951

5051284.SQ.FTS.B,

Zero

Cpn,

9/02/23

...

5,509

5,329

5051339.SQ.FTS.B,

Zero

Cpn,

9/02/23

...

2,204

1,572

5051398.SQ.FTS.B,

Zero

Cpn,

9/02/23

...

3,135

2,873

5051441.SQ.FTS.B,

Zero

Cpn,

9/02/23

...

2,792

2,704

5051467.SQ.FTS.B,

Zero

Cpn,

9/02/23

...

21,988

21,359

5051683.SQ.FTS.B,

Zero

Cpn,

9/02/23

...

6,305

6,158

5051834.SQ.FTS.B,

Zero

Cpn,

9/02/23

...

3,629

3,437

5051862.SQ.FTS.B,

Zero

Cpn,

9/02/23

...

1,420

1,350

5051910.SQ.FTS.B,

Zero

Cpn,

9/02/23

...

22,516

21,579

5052292.SQ.FTS.B,

Zero

Cpn,

9/02/23

...

1,510

1,465

5052345.SQ.FTS.B,

Zero

Cpn,

9/02/23

...

6,570

6,095

5052459.SQ.FTS.B,

Zero

Cpn,

9/02/23

...

1,028

994

5052506.SQ.FTS.B,

Zero

Cpn,

9/02/23

...

3,982

3,848

5052614.SQ.FTS.B,

Zero

Cpn,

9/02/23

...

5,232

5,115

5052785.SQ.FTS.B,

Zero

Cpn,

9/02/23

...

23,740

23,076

5053197.SQ.FTS.B,

Zero

Cpn,

9/02/23

...

3,140

3,067

5053282.SQ.FTS.B,

Zero

Cpn,

9/02/23

...

2,034

1,976

5053347.SQ.FTS.B,

Zero

Cpn,

9/02/23

...

21,288

19,844

5053701.SQ.FTS.B,

Zero

Cpn,

9/02/23

...

6,525

5,447

5053756.SQ.FTS.B,

Zero

Cpn,

9/02/23

...

13,365

12,987

5054007.SQ.FTS.B,

Zero

Cpn,

9/02/23

...

1,039

913

5054042.SQ.FTS.B,

Zero

Cpn,

9/02/23

...

5,408

5,282

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5055854.SQ.FTS.B,

Zero

Cpn,

9/03/23

...

$

2,028

$

1,984

5055923.SQ.FTS.B,

Zero

Cpn,

9/03/23

...

1,468

1,434

5055947.SQ.FTS.B,

Zero

Cpn,

9/03/23

...

500

470

5055958.SQ.FTS.B,

Zero

Cpn,

9/03/23

...

18,421

17,842

5056633.SQ.FTS.B,

Zero

Cpn,

9/03/23

...

1,741

1,685

5056661.SQ.FTS.B,

Zero

Cpn,

9/03/23

...

1,123

1,077

5056708.SQ.FTS.B,

Zero

Cpn,

9/03/23

...

3,002

2,827

5056786.SQ.FTS.B,

Zero

Cpn,

9/03/23

...

3,882

3,753

5056902.SQ.FTS.B,

Zero

Cpn,

9/03/23

...

16,845

16,313

5057271.SQ.FTS.B,

Zero

Cpn,

9/03/23

...

143

141

5057279.SQ.FTS.B,

Zero

Cpn,

9/03/23

...

3,696

3,588

5057307.SQ.FTS.B,

Zero

Cpn,

9/03/23

...

2,532

2,365

5057375.SQ.FTS.B,

Zero

Cpn,

9/03/23

...

2,417

2,347

5057407.SQ.FTS.B,

Zero

Cpn,

9/03/23

...

23,069

22,448

5057884.SQ.FTS.B,

Zero

Cpn,

9/03/23

...

5,819

5,139

5058004.SQ.FTS.B,

Zero

Cpn,

9/03/23

...

817

802

5058047.SQ.FTS.B,

Zero

Cpn,

9/03/23

...

3,876

3,771

5058143.SQ.FTS.B,

Zero

Cpn,

9/03/23

...

963

931

5058170.SQ.FTS.B,

Zero

Cpn,

9/03/23

...

1,038

1,005

5058188.SQ.FTS.B,

Zero

Cpn,

9/03/23

...

9,659

8,489

5058343.SQ.FTS.B,

Zero

Cpn,

9/03/23

...

3,738

3,194

5058475.SQ.FTS.B,

Zero

Cpn,

9/03/23

...

2,180

2,129

5058519.SQ.FTS.B,

Zero

Cpn,

9/03/23

...

2,926

2,603

5058543.SQ.FTS.B,

Zero

Cpn,

9/03/23

...

1,743

1,686

5058920.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

924

900

5058976.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

10,135

9,873

5059207.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

1,266

1,077

5059231.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

1,686

1,651

5059273.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

2,593

2,304

5059288.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

859

836

5059291.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

2,220

2,161

5059388.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

9,156

8,547

5059485.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

625

598

5059496.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

1,061

947

5059500.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

4,437

4,259

5059779.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

16,369

6,562

5059917.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

2,522

2,381

5059942.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

3,393

3,296

5060003.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

3,294

3,203

5060041.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

1,009

903

5060054.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

2,247

2,201

5060138.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

6,770

6,159

5060237.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

5,121

4,732

5060402.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

15,354

13,864

5060552.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

2,053

2,007

5060607.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

3,325

3,201

5060667.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

7,388

7,164

5060728.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

929

821

5060752.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

2,677

2,537

5060999.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

16,876

15,958

5061300.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

3,936

3,235

5061348.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

5,226

5,041

5061477.SQ.FTS.B,

Zero

Cpn,

9/04/23

...

6,350

5,180

5061561.SQ.FTS.B,

Zero

Cpn,

9/05/23

...

4,150

4,000

5061591.SQ.FTS.B,

Zero

Cpn,

9/05/23

...

27,551

25,668

5061794.SQ.FTS.B,

Zero

Cpn,

9/05/23

...

1,320

1,288

5061835.SQ.FTS.B,

Zero

Cpn,

9/05/23

...

3,502

3,404

5061878.SQ.FTS.B,

Zero

Cpn,

9/05/23

...

2,134

2,077

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

187

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5061901.SQ.FTS.B,

Zero

Cpn,

9/05/23

...

$

6,511

$

6,296

5061962.SQ.FTS.B,

Zero

Cpn,

9/05/23

...

1,239

1,206

5061987.SQ.FTS.B,

Zero

Cpn,

9/05/23

...

643

626

5061989.SQ.FTS.B,

Zero

Cpn,

9/05/23

...

2,986

2,903

5062030.SQ.FTS.B,

Zero

Cpn,

9/05/23

...

2,004

1,954

5062055.SQ.FTS.B,

Zero

Cpn,

9/05/23

...

7,481

7,184

5062119.SQ.FTS.B,

Zero

Cpn,

9/05/23

...

2,211

2,145

5062144.SQ.FTS.B,

Zero

Cpn,

9/05/23

...

400

327

5062224.SQ.FTS.B,

Zero

Cpn,

9/05/23

...

821

793

5062266.SQ.FTS.B,

Zero

Cpn,

9/05/23

...

3,766

3,652

5062299.SQ.FTS.B,

Zero

Cpn,

9/06/23

...

842

765

5062306.SQ.FTS.B,

Zero

Cpn,

9/06/23

...

4,415

4,282

5062379.SQ.FTS.B,

Zero

Cpn,

9/06/23

...

5,797

5,497

5062445.SQ.FTS.B,

Zero

Cpn,

9/06/23

...

8,823

8,595

5062543.SQ.FTS.B,

Zero

Cpn,

9/06/23

...

3,960

3,795

5062598.SQ.FTS.B,

Zero

Cpn,

9/06/23

...

1,833

1,773

5062620.SQ.FTS.B,

Zero

Cpn,

9/06/23

...

2,326

2,262

5062648.SQ.FTS.B,

Zero

Cpn,

9/06/23

...

2,623

2,413

5062671.SQ.FTS.B,

Zero

Cpn,

9/06/23

...

1,790

1,738

5062686.SQ.FTS.B,

Zero

Cpn,

9/06/23

...

884

864

5062694.SQ.FTS.B,

Zero

Cpn,

9/06/23

...

3,477

3,268

5062782.SQ.FTS.B,

Zero

Cpn,

9/06/23

...

4,670

3,687

5062823.SQ.FTS.B,

Zero

Cpn,

9/06/23

...

3,761

3,640

5062902.SQ.FTS.B,

Zero

Cpn,

9/06/23

...

5,646

5,341

5063776.SQ.FTS.B,

Zero

Cpn,

9/07/23

...

2,533

2,458

5063833.SQ.FTS.B,

Zero

Cpn,

9/07/23

...

6,543

2,925

5063949.SQ.FTS.B,

Zero

Cpn,

9/07/23

...

8,363

8,092

5064099.SQ.FTS.B,

Zero

Cpn,

9/07/23

...

7,742

6,509

5064174.SQ.FTS.B,

Zero

Cpn,

9/07/23

...

453

442

5064186.SQ.FTS.B,

Zero

Cpn,

9/07/23

...

796

771

5064202.SQ.FTS.B,

Zero

Cpn,

9/07/23

...

7,786

7,473

5064367.SQ.FTS.B,

Zero

Cpn,

9/07/23

...

9,642

9,249

5064617.SQ.FTS.B,

Zero

Cpn,

9/07/23

...

244

237

5064624.SQ.FTS.B,

Zero

Cpn,

9/07/23

...

7,862

7,681

5064779.SQ.FTS.B,

Zero

Cpn,

9/07/23

...

662

586

5064816.SQ.FTS.B,

Zero

Cpn,

9/07/23

...

6,159

5,590

5065012.SQ.FTS.B,

Zero

Cpn,

9/07/23

...

14,734

13,757

5065199.SQ.FTS.B,

Zero

Cpn,

9/07/23

...

379

370

5065207.SQ.FTS.B,

Zero

Cpn,

9/07/23

...

1,483

1,446

5065231.SQ.FTS.B,

Zero

Cpn,

9/07/23

...

12,299

11,192

5065529.SQ.FTS.B,

Zero

Cpn,

9/07/23

...

1,753

1,695

5065706.SQ.FTS.B,

Zero

Cpn,

9/07/23

...

5,237

5,083

5065744.SQ.FTS.B,

Zero

Cpn,

9/07/23

...

5,958

5,638

5065783.SQ.FTS.B,

Zero

Cpn,

9/07/23

...

23,017

22,251

5066009.SQ.FTS.B,

Zero

Cpn,

9/08/23

...

17,004

15,857

5066185.SQ.FTS.B,

Zero

Cpn,

9/08/23

...

12,784

12,529

5066697.SQ.FTS.B,

Zero

Cpn,

9/08/23

...

4,866

4,657

5066753.SQ.FTS.B,

Zero

Cpn,

9/08/23

...

907

889

5066823.SQ.FTS.B,

Zero

Cpn,

9/08/23

...

6,433

6,248

5066964.SQ.FTS.B,

Zero

Cpn,

9/08/23

...

3,727

3,593

5067023.SQ.FTS.B,

Zero

Cpn,

9/08/23

...

1,745

1,676

5067142.SQ.FTS.B,

Zero

Cpn,

9/08/23

...

6,155

5,965

5067542.SQ.FTS.B,

Zero

Cpn,

9/08/23

...

1,728

1,689

5067639.SQ.FTS.B,

Zero

Cpn,

9/08/23

...

8,253

3,641

5067693.SQ.FTS.B,

Zero

Cpn,

9/08/23

...

2,067

2,005

5067718.SQ.FTS.B,

Zero

Cpn,

9/08/23

...

14,149

13,729

5067928.SQ.FTS.B,

Zero

Cpn,

9/08/23

...

3,192

3,102

5067954.SQ.FTS.B,

Zero

Cpn,

9/08/23

...

3,234

2,862

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5068001.SQ.FTS.B,

Zero

Cpn,

9/08/23

...

$

13,184

$

12,107

5068166.SQ.FTS.B,

Zero

Cpn,

9/08/23

...

529

502

5068176.SQ.FTS.B,

Zero

Cpn,

9/08/23

...

27,630

25,721

5068395.SQ.FTS.B,

Zero

Cpn,

9/08/23

...

1,335

1,292

5068422.SQ.FTS.B,

Zero

Cpn,

9/08/23

...

5,485

5,291

5068585.SQ.FTS.B,

Zero

Cpn,

9/08/23

...

2,895

1,563

5068695.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

731

644

5068718.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

2,464

2,341

5068762.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

13,188

12,764

5068934.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

2,878

2,737

5068981.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

611

577

5069032.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

5,673

4,346

5069067.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

12,169

5,164

5069174.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

4,422

4,276

5069333.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

4,973

4,866

5069612.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

1,126

1,092

5069629.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

516

386

5069639.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

3,796

3,705

5069719.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

10,683

10,314

5069849.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

568

537

5069860.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

2,034

1,978

5069894.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

610

593

5069925.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

7,309

7,041

5069999.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

2,782

2,712

5070067.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

2,389

2,314

5070112.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

2,095

2,036

5070163.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

987

955

5070187.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

2,635

2,530

5070218.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

5,851

5,676

5070311.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

13,284

12,721

5070572.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

1,987

1,744

5070631.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

2,490

2,381

5070717.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

3,548

3,307

5070786.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

5,428

5,252

5071040.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

1,074

1,030

5071063.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

2,889

2,794

5071123.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

5,727

5,231

5071215.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

2,461

2,416

5071299.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

1,878

1,768

5071303.SQ.FTS.B,

Zero

Cpn,

9/09/23

...

3,099

3,029

5072969.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

4,146

4,011

5073011.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

8,335

8,144

5073067.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

762

747

5073076.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

2,523

2,423

5073130.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

3,116

3,041

5073148.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

11,228

9,320

5073192.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

3,600

3,516

5073218.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

690

673

5073226.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

4,641

4,497

5073276.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

1,567

1,442

5073303.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

995

927

5073321.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

2,238

1,395

5073337.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

1,578

1,526

5073880.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

6,209

6,027

5073967.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

1,029

982

5073998.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

1,996

1,912

5074042.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

2,724

2,613

5074113.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

38,423

16,371

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

188

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5074404.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

$

6,338

$

5,959

5074740.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

3,827

2,507

5074780.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

1,808

884

5074800.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

1,352

1,312

5074828.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

1,850

1,805

5074864.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

1,632

1,489

5074888.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

20,098

19,574

5075246.SQ.FTS.B,

Zero

Cpn,

9/10/23

...

4,161

3,799

5075626.SQ.FTS.B,

Zero

Cpn,

9/11/23

...

5,346

5,150

5075754.SQ.FTS.B,

Zero

Cpn,

9/11/23

...

1,845

1,659

5075797.SQ.FTS.B,

Zero

Cpn,

9/11/23

...

940

903

5075811.SQ.FTS.B,

Zero

Cpn,

9/11/23

...

6,122

5,794

5075908.SQ.FTS.B,

Zero

Cpn,

9/11/23

...

3,794

3,570

5075938.SQ.FTS.B,

Zero

Cpn,

9/11/23

...

3,441

3,329

5075962.SQ.FTS.B,

Zero

Cpn,

9/11/23

...

23,964

23,243

5076306.SQ.FTS.B,

Zero

Cpn,

9/11/23

...

7,378

7,135

5076465.SQ.FTS.B,

Zero

Cpn,

9/11/23

...

1,320

1,245

5076479.SQ.FTS.B,

Zero

Cpn,

9/11/23

...

6,542

6,336

5076678.SQ.FTS.B,

Zero

Cpn,

9/11/23

...

2,979

2,672

5076712.SQ.FTS.B,

Zero

Cpn,

9/11/23

...

2,008

1,801

5076768.SQ.FTS.B,

Zero

Cpn,

9/11/23

...

2,969

2,846

5076950.SQ.FTS.B,

Zero

Cpn,

9/11/23

...

17,274

16,404

5077176.SQ.FTS.B,

Zero

Cpn,

9/11/23

...

5,597

5,410

5077220.SQ.FTS.B,

Zero

Cpn,

9/11/23

...

3,441

3,331

5077338.SQ.FTS.B,

Zero

Cpn,

9/11/23

...

6,560

6,336

5077457.SQ.FTS.B,

Zero

Cpn,

9/11/23

...

34,295

31,180

5078224.SQ.FTS.B,

Zero

Cpn,

9/12/23

...

942

885

5078249.SQ.FTS.B,

Zero

Cpn,

9/12/23

...

4,579

4,454

5078305.SQ.FTS.B,

Zero

Cpn,

9/12/23

...

7,242

6,945

5078372.SQ.FTS.B,

Zero

Cpn,

9/12/23

...

1,162

1,132

5078382.SQ.FTS.B,

Zero

Cpn,

9/12/23

...

2,526

1,829

5078396.SQ.FTS.B,

Zero

Cpn,

9/12/23

...

4,175

3,266

5078422.SQ.FTS.B,

Zero

Cpn,

9/12/23

...

1,271

1,237

5078434.SQ.FTS.B,

Zero

Cpn,

9/12/23

...

3,414

3,321

5078648.SQ.FTS.B,

Zero

Cpn,

9/12/23

...

2,728

2,657

5078700.SQ.FTS.B,

Zero

Cpn,

9/12/23

...

10,077

9,442

5078948.SQ.FTS.B,

Zero

Cpn,

9/13/23

...

7,034

6,810

5079220.SQ.FTS.B,

Zero

Cpn,

9/13/23

...

2,677

2,619

5079304.SQ.FTS.B,

Zero

Cpn,

9/13/23

...

6,522

6,303

5079376.SQ.FTS.B,

Zero

Cpn,

9/13/23

...

3,176

3,047

5079407.SQ.FTS.B,

Zero

Cpn,

9/13/23

...

3,619

3,500

5079443.SQ.FTS.B,

Zero

Cpn,

9/13/23

...

4,056

3,812

5079479.SQ.FTS.B,

Zero

Cpn,

9/13/23

...

3,052

2,681

5079499.SQ.FTS.B,

Zero

Cpn,

9/13/23

...

3,238

3,129

5079608.SQ.FTS.B,

Zero

Cpn,

9/14/23

...

7,938

7,655

5079960.SQ.FTS.B,

Zero

Cpn,

9/14/23

...

2,724

2,658

5080067.SQ.FTS.B,

Zero

Cpn,

9/14/23

...

2,249

1,896

5080146.SQ.FTS.B,

Zero

Cpn,

9/14/23

...

1,071

1,004

5080273.SQ.FTS.B,

Zero

Cpn,

9/14/23

...

3,002

2,929

5080466.SQ.FTS.B,

Zero

Cpn,

9/14/23

...

2,343

2,287

5080500.SQ.FTS.B,

Zero

Cpn,

9/14/23

...

4,890

4,718

5080563.SQ.FTS.B,

Zero

Cpn,

9/14/23

...

1,556

1,515

5080605.SQ.FTS.B,

Zero

Cpn,

9/14/23

...

5,194

5,063

5080672.SQ.FTS.B,

Zero

Cpn,

9/14/23

...

5,403

5,271

5080804.SQ.FTS.B,

Zero

Cpn,

9/14/23

...

1,319

1,277

5080824.SQ.FTS.B,

Zero

Cpn,

9/14/23

...

5,550

5,376

5080951.SQ.FTS.B,

Zero

Cpn,

9/14/23

...

1,544

1,379

5080957.SQ.FTS.B,

Zero

Cpn,

9/14/23

...

4,823

4,587

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5080983.SQ.FTS.B,

Zero

Cpn,

9/14/23

...

$

215

$

211

5081052.SQ.FTS.B,

Zero

Cpn,

9/14/23

...

3,239

3,157

5081394.SQ.FTS.B,

Zero

Cpn,

9/14/23

...

9,547

5,156

5081491.SQ.FTS.B,

Zero

Cpn,

9/14/23

...

1,367

1,213

5081502.SQ.FTS.B,

Zero

Cpn,

9/14/23

...

2,222

2,167

5081525.SQ.FTS.B,

Zero

Cpn,

9/14/23

...

6,445

6,005

5081574.SQ.FTS.B,

Zero

Cpn,

9/14/23

...

6,412

5,974

5081663.SQ.FTS.B,

Zero

Cpn,

9/14/23

...

1,809

1,553

5081679.SQ.FTS.B,

Zero

Cpn,

9/14/23

...

5,092

4,946

5081732.SQ.FTS.B,

Zero

Cpn,

9/14/23

...

9,744

9,389

5082041.SQ.FTS.B,

Zero

Cpn,

9/14/23

...

8,141

7,591

5082095.SQ.FTS.B,

Zero

Cpn,

9/14/23

...

20,148

19,635

5082416.SQ.FTS.B,

Zero

Cpn,

9/15/23

...

7,588

7,351

5082867.SQ.FTS.B,

Zero

Cpn,

9/15/23

...

225

218

5082887.SQ.FTS.B,

Zero

Cpn,

9/15/23

...

1,746

1,683

5082971.SQ.FTS.B,

Zero

Cpn,

9/15/23

...

2,586

2,503

5083068.SQ.FTS.B,

Zero

Cpn,

9/15/23

...

4,412

4,274

5083161.SQ.FTS.B,

Zero

Cpn,

9/15/23

...

1,539

1,467

5083501.SQ.FTS.B,

Zero

Cpn,

9/15/23

...

4,401

3,763

5083579.SQ.FTS.B,

Zero

Cpn,

9/15/23

...

11,081

9,213

5083730.SQ.FTS.B,

Zero

Cpn,

9/15/23

...

1,405

1,302

5083759.SQ.FTS.B,

Zero

Cpn,

9/15/23

...

252

244

5083763.SQ.FTS.B,

Zero

Cpn,

9/15/23

...

21,375

20,451

5084248.SQ.FTS.B,

Zero

Cpn,

9/15/23

...

13,600

9,863

5084399.SQ.FTS.B,

Zero

Cpn,

9/15/23

...

2,009

1,911

5084433.SQ.FTS.B,

Zero

Cpn,

9/15/23

...

3,744

3,433

5084480.SQ.FTS.B,

Zero

Cpn,

9/15/23

...

2,136

2,027

5084514.SQ.FTS.B,

Zero

Cpn,

9/15/23

...

3,669

3,577

5084599.SQ.FTS.B,

Zero

Cpn,

9/15/23

...

8,454

7,582

5084772.SQ.FTS.B,

Zero

Cpn,

9/16/23

...

1,885

1,828

5084811.SQ.FTS.B,

Zero

Cpn,

9/16/23

...

1,789

1,748

5084871.SQ.FTS.B,

Zero

Cpn,

9/16/23

...

41,102

39,805

5085415.SQ.FTS.B,

Zero

Cpn,

9/16/23

...

5,819

5,639

5085658.SQ.FTS.B,

Zero

Cpn,

9/16/23

...

8,331

8,131

5085977.SQ.FTS.B,

Zero

Cpn,

9/16/23

...

351

341

5085992.SQ.FTS.B,

Zero

Cpn,

9/16/23

...

4,401

4,289

5086122.SQ.FTS.B,

Zero

Cpn,

9/16/23

...

4,050

3,906

5086163.SQ.FTS.B,

Zero

Cpn,

9/16/23

...

1,195

1,155

5086472.SQ.FTS.B,

Zero

Cpn,

9/16/23

...

2,192

1,886

5086626.SQ.FTS.B,

Zero

Cpn,

9/16/23

...

1,834

1,445

5086647.SQ.FTS.B,

Zero

Cpn,

9/16/23

...

865

823

5086748.SQ.FTS.B,

Zero

Cpn,

9/16/23

...

13,112

12,357

5086933.SQ.FTS.B,

Zero

Cpn,

9/16/23

...

3,273

3,187

5086992.SQ.FTS.B,

Zero

Cpn,

9/16/23

...

675

661

5087008.SQ.FTS.B,

Zero

Cpn,

9/16/23

...

2,657

2,432

5088409.SQ.FTS.B,

Zero

Cpn,

9/17/23

...

2,007

1,763

5088465.SQ.FTS.B,

Zero

Cpn,

9/17/23

...

27,008

17,741

5088805.SQ.FTS.B,

Zero

Cpn,

9/17/23

...

3,988

3,867

5088920.SQ.FTS.B,

Zero

Cpn,

9/17/23

...

1,443

1,328

5088940.SQ.FTS.B,

Zero

Cpn,

9/17/23

...

754

553

5088952.SQ.FTS.B,

Zero

Cpn,

9/17/23

...

1,911

1,851

5089078.SQ.FTS.B,

Zero

Cpn,

9/17/23

...

2,644

2,562

5089149.SQ.FTS.B,

Zero

Cpn,

9/17/23

...

3,132

2,973

5089263.SQ.FTS.B,

Zero

Cpn,

9/17/23

...

1,473

1,390

5089338.SQ.FTS.B,

Zero

Cpn,

9/17/23

...

12,084

11,660

5089593.SQ.FTS.B,

Zero

Cpn,

9/17/23

...

9,008

8,265

5089799.SQ.FTS.B,

Zero

Cpn,

9/17/23

...

1,965

1,669

5089820.SQ.FTS.B,

Zero

Cpn,

9/17/23

...

2,758

2,676

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

189

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5089863.SQ.FTS.B,

Zero

Cpn,

9/17/23

...

$

5,003

$

4,849

5090005.SQ.FTS.B,

Zero

Cpn,

9/17/23

...

1,208

1,150

5090043.SQ.FTS.B,

Zero

Cpn,

9/17/23

...

1,137

1,076

5090079.SQ.FTS.B,

Zero

Cpn,

9/17/23

...

1,503

1,298

5090093.SQ.FTS.B,

Zero

Cpn,

9/17/23

...

4,239

4,068

5090163.SQ.FTS.B,

Zero

Cpn,

9/17/23

...

1,427

1,389

5090215.SQ.FTS.B,

Zero

Cpn,

9/17/23

...

6,965

6,757

5090392.SQ.FTS.B,

Zero

Cpn,

9/17/23

...

738

720

5090397.SQ.FTS.B,

Zero

Cpn,

9/17/23

...

670

616

5090449.SQ.FTS.B,

Zero

Cpn,

9/17/23

...

3,352

3,281

5090525.SQ.FTS.B,

Zero

Cpn,

9/17/23

...

3,564

3,475

5090813.SQ.FTS.B,

Zero

Cpn,

9/17/23

...

6,500

5,830

5090884.SQ.FTS.B,

Zero

Cpn,

9/17/23

...

1,434

1,307

5090905.SQ.FTS.B,

Zero

Cpn,

9/17/23

...

6,831

6,584

5091057.SQ.FTS.B,

Zero

Cpn,

9/17/23

...

21,781

21,037

5091205.SQ.FTS.B,

Zero

Cpn,

9/18/23

...

2,149

2,085

5091283.SQ.FTS.B,

Zero

Cpn,

9/18/23

...

1,385

1,346

5091322.SQ.FTS.B,

Zero

Cpn,

9/18/23

...

4,231

4,100

5091416.SQ.FTS.B,

Zero

Cpn,

9/18/23

...

16,519

15,085

5091760.SQ.FTS.B,

Zero

Cpn,

9/18/23

...

535

522

5091804.SQ.FTS.B,

Zero

Cpn,

9/18/23

...

2,017

1,953

5091887.SQ.FTS.B,

Zero

Cpn,

9/18/23

...

11,268

10,065

5092100.SQ.FTS.B,

Zero

Cpn,

9/18/23

...

3,578

3,483

5092384.SQ.FTS.B,

Zero

Cpn,

9/18/23

...

7,146

6,347

5092572.SQ.FTS.B,

Zero

Cpn,

9/18/23

...

4,096

1,989

5092641.SQ.FTS.B,

Zero

Cpn,

9/18/23

...

2,433

2,386

5092794.SQ.FTS.B,

Zero

Cpn,

9/18/23

...

1,729

1,679

5092866.SQ.FTS.B,

Zero

Cpn,

9/18/23

...

3,194

2,898

5092954.SQ.FTS.B,

Zero

Cpn,

9/18/23

...

798

785

5093011.SQ.FTS.B,

Zero

Cpn,

9/18/23

...

6,739

6,464

5093151.SQ.FTS.B,

Zero

Cpn,

9/18/23

...

1,494

1,400

5093171.SQ.FTS.B,

Zero

Cpn,

9/18/23

...

11,574

11,092

5093427.SQ.FTS.B,

Zero

Cpn,

9/18/23

...

1,635

1,587

5093461.SQ.FTS.B,

Zero

Cpn,

9/18/23

...

1,938

1,762

5093475.SQ.FTS.B,

Zero

Cpn,

9/18/23

...

8,666

8,353

5093598.SQ.FTS.B,

Zero

Cpn,

9/18/23

...

2,143

2,094

5093697.SQ.FTS.B,

Zero

Cpn,

9/18/23

...

1,290

1,260

5093718.SQ.FTS.B,

Zero

Cpn,

9/18/23

...

16,989

16,386

5093830.SQ.FTS.B,

Zero

Cpn,

9/19/23

...

6,069

5,864

5093868.SQ.FTS.B,

Zero

Cpn,

9/19/23

...

2,527

2,438

5093886.SQ.FTS.B,

Zero

Cpn,

9/19/23

...

3,110

2,867

5093907.SQ.FTS.B,

Zero

Cpn,

9/19/23

...

33,210

31,142

5094167.SQ.FTS.B,

Zero

Cpn,

9/19/23

...

805

782

5094189.SQ.FTS.B,

Zero

Cpn,

9/19/23

...

484

466

5094198.SQ.FTS.B,

Zero

Cpn,

9/19/23

...

1,988

1,928

5094254.SQ.FTS.B,

Zero

Cpn,

9/19/23

...

1,881

1,746

5094262.SQ.FTS.B,

Zero

Cpn,

9/19/23

...

1,820

1,771

5094291.SQ.FTS.B,

Zero

Cpn,

9/19/23

...

2,064

2,003

5094395.SQ.FTS.B,

Zero

Cpn,

9/20/23

...

1,761

1,727

5094438.SQ.FTS.B,

Zero

Cpn,

9/20/23

...

580

557

5094448.SQ.FTS.B,

Zero

Cpn,

9/20/23

...

6,049

5,752

5094517.SQ.FTS.B,

Zero

Cpn,

9/20/23

...

5,771

5,576

5094558.SQ.FTS.B,

Zero

Cpn,

9/20/23

...

2,089

2,040

5094586.SQ.FTS.B,

Zero

Cpn,

9/20/23

...

2,304

2,046

5094640.SQ.FTS.B,

Zero

Cpn,

9/20/23

...

2,473

2,390

5094665.SQ.FTS.B,

Zero

Cpn,

9/20/23

...

1,450

1,243

5094672.SQ.FTS.B,

Zero

Cpn,

9/20/23

...

527

496

5094692.SQ.FTS.B,

Zero

Cpn,

9/20/23

...

5,985

5,805

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5094746.SQ.FTS.B,

Zero

Cpn,

9/20/23

...

$

2,778

$

2,668

5094773.SQ.FTS.B,

Zero

Cpn,

9/20/23

...

565

520

5094887.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

1,659

1,599

5094931.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

325

308

5094947.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

2,087

2,020

5095035.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

2,602

2,506

5095137.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

1,342

1,297

5095170.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

2,583

2,415

5095273.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

786

754

5095312.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

1,539

1,443

5095450.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

1,027

929

5095496.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

10,355

10,063

5095634.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

4,842

3,309

5095683.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

18,225

17,685

5096000.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

1,664

1,219

5096008.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

2,294

2,245

5096238.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

4,737

4,614

5096292.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

7,906

7,127

5096386.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

3,029

2,924

5096459.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

1,935

1,705

5096503.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

9,495

6,605

5096548.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

3,793

3,719

5096685.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

4,665

4,339

5096724.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

579

561

5096767.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

77

76

5096780.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

7,696

7,151

5096833.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

6,943

6,689

5096891.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

2,324

2,260

5096930.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

5,211

5,045

5096958.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

414

381

5096970.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

1,315

1,269

5097014.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

1,249

1,167

5097096.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

949

930

5097122.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

7,570

7,271

5097173.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

729

317

5097179.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

3,887

3,158

5097209.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

2,671

2,583

5097231.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

8,360

8,171

5097322.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

12,722

12,471

5097534.SQ.FTS.B,

Zero

Cpn,

9/21/23

...

32,729

31,492

5097755.SQ.FTS.B,

Zero

Cpn,

9/22/23

...

585

459

5097848.SQ.FTS.B,

Zero

Cpn,

9/22/23

...

1,840

1,480

5097860.SQ.FTS.B,

Zero

Cpn,

9/22/23

...

3,006

2,922

5097905.SQ.FTS.B,

Zero

Cpn,

9/22/23

...

7,096

5,757

5097951.SQ.FTS.B,

Zero

Cpn,

9/22/23

...

30,643

29,559

5098366.SQ.FTS.B,

Zero

Cpn,

9/22/23

...

1,938

1,636

5098386.SQ.FTS.B,

Zero

Cpn,

9/22/23

...

2,279

2,218

5098444.SQ.FTS.B,

Zero

Cpn,

9/22/23

...

10,578

9,757

5098592.SQ.FTS.B,

Zero

Cpn,

9/22/23

...

7,028

6,788

5098707.SQ.FTS.B,

Zero

Cpn,

9/22/23

...

9,926

9,641

5098807.SQ.FTS.B,

Zero

Cpn,

9/22/23

...

2,303

2,238

5098879.SQ.FTS.B,

Zero

Cpn,

9/22/23

...

590

573

5098908.SQ.FTS.B,

Zero

Cpn,

9/22/23

...

8,883

8,589

5099132.SQ.FTS.B,

Zero

Cpn,

9/22/23

...

37,847

26,210

5099508.SQ.FTS.B,

Zero

Cpn,

9/22/23

...

9,915

9,134

5099663.SQ.FTS.B,

Zero

Cpn,

9/22/23

...

2,660

2,583

5099694.SQ.FTS.B,

Zero

Cpn,

9/22/23

...

1,197

1,170

5099706.SQ.FTS.B,

Zero

Cpn,

9/22/23

...

7,548

6,389

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

190

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5099740.SQ.FTS.B,

Zero

Cpn,

9/22/23

...

$

6,062

$

5,962

5100174.SQ.FTS.B,

Zero

Cpn,

9/22/23

...

977

954

5100238.SQ.FTS.B,

Zero

Cpn,

9/22/23

...

4,696

4,592

5100352.SQ.FTS.B,

Zero

Cpn,

9/22/23

...

1,411

1,378

5100367.SQ.FTS.B,

Zero

Cpn,

9/22/23

...

2,996

2,930

5100421.SQ.FTS.B,

Zero

Cpn,

9/23/23

...

2,833

2,741

5100461.SQ.FTS.B,

Zero

Cpn,

9/23/23

...

11,646

10,842

5100553.SQ.FTS.B,

Zero

Cpn,

9/23/23

...

1,188

1,149

5100568.SQ.FTS.B,

Zero

Cpn,

9/23/23

...

8,874

8,586

5100672.SQ.FTS.B,

Zero

Cpn,

9/23/23

...

1,726

1,654

5100740.SQ.FTS.B,

Zero

Cpn,

9/23/23

...

251

246

5100750.SQ.FTS.B,

Zero

Cpn,

9/23/23

...

1,727

1,688

5100786.SQ.FTS.B,

Zero

Cpn,

9/23/23

...

1,665

1,599

5100818.SQ.FTS.B,

Zero

Cpn,

9/23/23

...

4,710

4,382

5100909.SQ.FTS.B,

Zero

Cpn,

9/23/23

...

2,781

2,701

5100980.SQ.FTS.B,

Zero

Cpn,

9/23/23

...

2,210

2,150

5101026.SQ.FTS.B,

Zero

Cpn,

9/23/23

...

602

449

5101029.SQ.FTS.B,

Zero

Cpn,

9/23/23

...

3,101

3,021

5101115.SQ.FTS.B,

Zero

Cpn,

9/23/23

...

2,534

2,445

5101186.SQ.FTS.B,

Zero

Cpn,

9/23/23

...

375

365

5101202.SQ.FTS.B,

Zero

Cpn,

9/23/23

...

6,176

5,978

5101343.SQ.FTS.B,

Zero

Cpn,

9/23/23

...

2,961

2,820

5101452.SQ.FTS.B,

Zero

Cpn,

9/23/23

...

2,142

2,059

5101538.SQ.FTS.B,

Zero

Cpn,

9/23/23

...

18,949

18,356

5101815.SQ.FTS.B,

Zero

Cpn,

9/23/23

...

1,132

1,099

5101839.SQ.FTS.B,

Zero

Cpn,

9/23/23

...

7,830

7,385

5101940.SQ.FTS.B,

Zero

Cpn,

9/23/23

...

243

239

5102003.SQ.FTS.B,

Zero

Cpn,

9/23/23

...

3,881

3,748

5102063.SQ.FTS.B,

Zero

Cpn,

9/23/23

...

2,321

2,167

5102112.SQ.FTS.B,

Zero

Cpn,

9/23/23

...

1,303

1,265

5102148.SQ.FTS.B,

Zero

Cpn,

9/23/23

...

4,860

4,719

5102220.SQ.FTS.B,

Zero

Cpn,

9/23/23

...

5,973

5,527

5102338.SQ.FTS.B,

Zero

Cpn,

9/23/23

...

38,282

37,322

5104363.SQ.FTS.B,

Zero

Cpn,

9/24/23

...

4,573

4,473

5104481.SQ.FTS.B,

Zero

Cpn,

9/24/23

...

2,508

1,444

5104497.SQ.FTS.B,

Zero

Cpn,

9/24/23

...

725

707

5104506.SQ.FTS.B,

Zero

Cpn,

9/24/23

...

1,276

1,187

5104538.SQ.FTS.B,

Zero

Cpn,

9/24/23

...

743

708

5104553.SQ.FTS.B,

Zero

Cpn,

9/24/23

...

3,246

3,129

5104600.SQ.FTS.B,

Zero

Cpn,

9/24/23

...

4,599

4,421

5104659.SQ.FTS.B,

Zero

Cpn,

9/24/23

...

10,330

8,681

5104890.SQ.FTS.B,

Zero

Cpn,

9/24/23

...

11,012

10,687

5105555.SQ.FTS.B,

Zero

Cpn,

9/24/23

...

2,218

1,782

5105593.SQ.FTS.B,

Zero

Cpn,

9/24/23

...

1,430

1,395

5105661.SQ.FTS.B,

Zero

Cpn,

9/24/23

...

1,522

1,487

5105777.SQ.FTS.B,

Zero

Cpn,

9/24/23

...

3,599

3,477

5105872.SQ.FTS.B,

Zero

Cpn,

9/24/23

...

16,696

16,190

5106279.SQ.FTS.B,

Zero

Cpn,

9/24/23

...

3,370

3,120

5106333.SQ.FTS.B,

Zero

Cpn,

9/24/23

...

891

844

5106389.SQ.FTS.B,

Zero

Cpn,

9/24/23

...

15,729

15,317

5106664.SQ.FTS.B,

Zero

Cpn,

9/24/23

...

2,242

2,192

5106705.SQ.FTS.B,

Zero

Cpn,

9/24/23

...

6,764

6,351

5106744.SQ.FTS.B,

Zero

Cpn,

9/24/23

...

32,919

30,901

5107149.SQ.FTS.B,

Zero

Cpn,

9/24/23

...

3,210

3,119

5107188.SQ.FTS.B,

Zero

Cpn,

9/24/23

...

10,705

6,600

5107271.SQ.FTS.B,

Zero

Cpn,

9/24/23

...

665

612

5107289.SQ.FTS.B,

Zero

Cpn,

9/24/23

...

21,954

21,261

5107562.SQ.FTS.B,

Zero

Cpn,

9/25/23

...

4,256

4,007

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5107926.SQ.FTS.B,

Zero

Cpn,

9/25/23

...

$

2,031

$

1,895

5107976.SQ.FTS.B,

Zero

Cpn,

9/25/23

...

2,901

2,813

5108020.SQ.FTS.B,

Zero

Cpn,

9/25/23

...

183

179

5108034.SQ.FTS.B,

Zero

Cpn,

9/25/23

...

943

904

5108072.SQ.FTS.B,

Zero

Cpn,

9/25/23

...

1,934

1,647

5108110.SQ.FTS.B,

Zero

Cpn,

9/25/23

...

2,132

2,044

5108158.SQ.FTS.B,

Zero

Cpn,

9/25/23

...

11,979

11,627

5108456.SQ.FTS.B,

Zero

Cpn,

9/25/23

...

7,974

7,183

5108668.SQ.FTS.B,

Zero

Cpn,

9/25/23

...

2,158

2,096

5108704.SQ.FTS.B,

Zero

Cpn,

9/25/23

...

16,121

15,735

5109124.SQ.FTS.B,

Zero

Cpn,

9/25/23

...

591

557

5109133.SQ.FTS.B,

Zero

Cpn,

9/25/23

...

949

910

5109170.SQ.FTS.B,

Zero

Cpn,

9/25/23

...

5,758

5,550

5109244.SQ.FTS.B,

Zero

Cpn,

9/25/23

...

12,081

11,729

5109680.SQ.FTS.B,

Zero

Cpn,

9/25/23

...

1,417

1,370

5109714.SQ.FTS.B,

Zero

Cpn,

9/25/23

...

8,207

4,115

5109841.SQ.FTS.B,

Zero

Cpn,

9/25/23

...

2,467

2,391

5109876.SQ.FTS.B,

Zero

Cpn,

9/25/23

...

3,770

3,506

5109955.SQ.FTS.B,

Zero

Cpn,

9/25/23

...

834

698

5109964.SQ.FTS.B,

Zero

Cpn,

9/25/23

...

9,873

7,443

5110149.SQ.FTS.B,

Zero

Cpn,

9/26/23

...

7,242

6,989

5110235.SQ.FTS.B,

Zero

Cpn,

9/26/23

...

179

176

5110306.SQ.FTS.B,

Zero

Cpn,

9/26/23

...

1,049

992

5110318.SQ.FTS.B,

Zero

Cpn,

9/26/23

...

4,132

3,990

5110355.SQ.FTS.B,

Zero

Cpn,

9/26/23

...

2,500

2,425

5110402.SQ.FTS.B,

Zero

Cpn,

9/26/23

...

703

685

5110418.SQ.FTS.B,

Zero

Cpn,

9/26/23

...

1,448

1,398

5110436.SQ.FTS.B,

Zero

Cpn,

9/26/23

...

4,350

3,935

5110478.SQ.FTS.B,

Zero

Cpn,

9/26/23

...

540

390

5110479.SQ.FTS.B,

Zero

Cpn,

9/26/23

...

19,819

19,260

5110799.SQ.FTS.B,

Zero

Cpn,

9/27/23

...

32,572

12,797

5111002.SQ.FTS.B,

Zero

Cpn,

9/27/23

...

577

254

5111011.SQ.FTS.B,

Zero

Cpn,

9/27/23

...

1,819

1,770

5111139.SQ.FTS.B,

Zero

Cpn,

9/27/23

...

897

867

5111170.SQ.FTS.B,

Zero

Cpn,

9/27/23

...

3,118

3,040

5111245.SQ.FTS.B,

Zero

Cpn,

9/27/23

...

4,108

3,954

5111284.SQ.FTS.B,

Zero

Cpn,

9/27/23

...

1,400

1,337

5111310.SQ.FTS.B,

Zero

Cpn,

9/27/23

...

3,514

3,391

5111337.SQ.FTS.B,

Zero

Cpn,

9/27/23

...

7,946

7,655

5111685.SQ.FTS.B,

Zero

Cpn,

9/28/23

...

479

431

5111701.SQ.FTS.B,

Zero

Cpn,

9/28/23

...

2,899

2,822

5111857.SQ.FTS.B,

Zero

Cpn,

9/28/23

...

2,348

2,274

5111943.SQ.FTS.B,

Zero

Cpn,

9/28/23

...

851

451

5112018.SQ.FTS.B,

Zero

Cpn,

9/28/23

...

3,163

3,060

5112107.SQ.FTS.B,

Zero

Cpn,

9/28/23

...

1,791

1,528

5112143.SQ.FTS.B,

Zero

Cpn,

9/28/23

...

572

559

5112171.SQ.FTS.B,

Zero

Cpn,

9/28/23

...

3,061

2,882

5112217.SQ.FTS.B,

Zero

Cpn,

9/28/23

...

30,284

29,279

5112656.SQ.FTS.B,

Zero

Cpn,

9/28/23

...

2,162

2,103

5113064.SQ.FTS.B,

Zero

Cpn,

9/28/23

...

3,745

3,624

5113147.SQ.FTS.B,

Zero

Cpn,

9/28/23

...

10,921

10,403

5113357.SQ.FTS.B,

Zero

Cpn,

9/28/23

...

1,437

1,391

5113386.SQ.FTS.B,

Zero

Cpn,

9/28/23

...

2,734

2,658

5113482.SQ.FTS.B,

Zero

Cpn,

9/28/23

...

2,811

2,126

5113545.SQ.FTS.B,

Zero

Cpn,

9/28/23

...

8,917

8,368

5113946.SQ.FTS.B,

Zero

Cpn,

9/28/23

...

2,821

2,727

5114211.SQ.FTS.B,

Zero

Cpn,

9/28/23

...

557

545

5114231.SQ.FTS.B,

Zero

Cpn,

9/28/23

...

6,800

6,559

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

191

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5114309.SQ.FTS.B,

Zero

Cpn,

9/28/23

...

$

2,028

$

1,838

5114345.SQ.FTS.B,

Zero

Cpn,

9/28/23

...

2,065

1,995

5114403.SQ.FTS.B,

Zero

Cpn,

9/28/23

...

1,028

531

5114512.SQ.FTS.B,

Zero

Cpn,

9/29/23

...

1,501

1,457

5114536.SQ.FTS.B,

Zero

Cpn,

9/29/23

...

40,223

38,964

5115191.SQ.FTS.B,

Zero

Cpn,

9/29/23

...

1,138

779

5115217.SQ.FTS.B,

Zero

Cpn,

9/29/23

...

2,996

2,787

5115290.SQ.FTS.B,

Zero

Cpn,

9/29/23

...

150

147

5115666.SQ.FTS.B,

Zero

Cpn,

9/29/23

...

5,228

5,125

5115942.SQ.FTS.B,

Zero

Cpn,

9/29/23

...

25,309

11,421

5116189.SQ.FTS.B,

Zero

Cpn,

9/29/23

...

8,778

8,446

5116518.SQ.FTS.B,

Zero

Cpn,

9/29/23

...

9,340

8,852

5116616.SQ.FTS.B,

Zero

Cpn,

9/29/23

...

3,416

3,323

5116679.SQ.FTS.B,

Zero

Cpn,

9/29/23

...

1,370

1,332

5116685.SQ.FTS.B,

Zero

Cpn,

9/29/23

...

6,785

6,567

5116851.SQ.FTS.B,

Zero

Cpn,

9/29/23

...

7,808

7,585

5117022.SQ.FTS.B,

Zero

Cpn,

9/29/23

...

41,946

40,600

5117216.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

3,892

3,745

5117268.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

5,827

5,644

5117310.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

4,690

3,802

5117350.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

2,091

2,018

5117365.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

4,093

3,987

5117463.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

1,659

1,463

5117470.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

18,043

17,614

5117759.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

12,756

12,305

5118047.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

2,552

2,485

5118110.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

3,043

2,963

5118308.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

7,979

6,600

5118363.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

1,916

1,347

5118413.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

2,254

2,162

5118435.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

17,886

16,938

5118693.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

1,887

1,833

5118733.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

19,647

18,949

5118913.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

4,622

4,283

5118981.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

3,773

3,420

5119015.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

2,330

1,965

5119047.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

4,937

4,818

5119138.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

4,442

4,232

5119172.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

3,195

3,045

5119200.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

452

443

5119211.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

2,861

2,754

5119354.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

4,186

3,895

5119448.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

6,581

6,338

5119496.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

12,398

11,196

5119596.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

7,899

6,682

5119664.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

3,622

3,515

5121539.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

20,416

19,805

5122010.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

1,086

803

5122038.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

959

918

5122106.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

185

182

5122167.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

3,678

3,597

5122282.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

1,057

1,026

5122298.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

2,435

2,033

5122334.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

1,900

1,303

5122360.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

1,718

1,677

5122416.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

8,943

8,568

5122579.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

6,398

6,199

5122688.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

7,130

6,918

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5122871.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

$

13,011

$

12,556

5123047.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

8,022

7,295

5123149.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

1,718

1,614

5123168.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

2,651

2,567

5123201.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

20,398

19,519

5123544.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

1,385

1,356

5123594.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

1,632

1,540

5123964.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

4,260

3,944

5124009.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

1,581

1,533

5124042.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

3,838

3,619

5124107.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

775

756

5124147.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

13,103

12,741

5124355.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

23,272

21,165

5124602.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

3,039

2,847

5124626.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

132

129

5124659.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

1,076

1,031

5124670.SQ.FTS.B,

Zero

Cpn,

9/30/23

...

15,709

13,046

5124898.SQ.FTS.B,

Zero

Cpn,

10/01/23

..

413

401

5124910.SQ.FTS.B,

Zero

Cpn,

10/01/23

..

3,280

3,161

5124949.SQ.FTS.B,

Zero

Cpn,

10/01/23

..

1,146

1,114

5124990.SQ.FTS.B,

Zero

Cpn,

10/01/23

..

15,217

14,507

5125406.SQ.FTS.B,

Zero

Cpn,

10/01/23

..

5,076

4,587

5125488.SQ.FTS.B,

Zero

Cpn,

10/01/23

..

4,676

4,508

5125765.SQ.FTS.B,

Zero

Cpn,

10/01/23

..

2,971

2,779

5125832.SQ.FTS.B,

Zero

Cpn,

10/01/23

..

738

690

5125862.SQ.FTS.B,

Zero

Cpn,

10/01/23

..

12,942

11,766

5126067.SQ.FTS.B,

Zero

Cpn,

10/01/23

..

960

936

5126090.SQ.FTS.B,

Zero

Cpn,

10/01/23

..

1,815

1,777

5126209.SQ.FTS.B,

Zero

Cpn,

10/01/23

..

4,639

4,313

5126318.SQ.FTS.B,

Zero

Cpn,

10/01/23

..

347

339

5126348.SQ.FTS.B,

Zero

Cpn,

10/01/23

..

21,623

19,612

5126700.SQ.FTS.B,

Zero

Cpn,

10/01/23

..

2,386

2,313

5126747.SQ.FTS.B,

Zero

Cpn,

10/01/23

..

1,265

1,234

5126793.SQ.FTS.B,

Zero

Cpn,

10/01/23

..

562

544

5126813.SQ.FTS.B,

Zero

Cpn,

10/01/23

..

16,911

16,354

5127201.SQ.FTS.B,

Zero

Cpn,

10/01/23

..

20,180

19,349

5127714.SQ.FTS.B,

Zero

Cpn,

10/02/23

..

3,034

2,938

5127752.SQ.FTS.B,

Zero

Cpn,

10/02/23

..

1,049

491

5127763.SQ.FTS.B,

Zero

Cpn,

10/02/23

..

6,373

6,145

5127821.SQ.FTS.B,

Zero

Cpn,

10/02/23

..

927

873

5127832.SQ.FTS.B,

Zero

Cpn,

10/02/23

..

971

943

5127839.SQ.FTS.B,

Zero

Cpn,

10/02/23

..

2,493

1,442

5127854.SQ.FTS.B,

Zero

Cpn,

10/02/23

..

8,442

8,124

5127925.SQ.FTS.B,

Zero

Cpn,

10/02/23

..

1,811

1,707

5127936.SQ.FTS.B,

Zero

Cpn,

10/02/23

..

4,313

4,168

5127970.SQ.FTS.B,

Zero

Cpn,

10/02/23

..

1,227

1,152

5127996.SQ.FTS.B,

Zero

Cpn,

10/02/23

..

3,052

2,824

5128016.SQ.FTS.B,

Zero

Cpn,

10/02/23

..

1,929

1,867

5128046.SQ.FTS.B,

Zero

Cpn,

10/02/23

..

1,309

1,238

5128054.SQ.FTS.B,

Zero

Cpn,

10/02/23

..

555

540

5128139.SQ.FTS.B,

Zero

Cpn,

10/02/23

..

2,107

1,854

5128160.SQ.FTS.B,

Zero

Cpn,

10/02/23

..

2,125

1,410

5128171.SQ.FTS.B,

Zero

Cpn,

10/02/23

..

6,055

5,831

5128231.SQ.FTS.B,

Zero

Cpn,

10/02/23

..

1,404

1,370

5128257.SQ.FTS.B,

Zero

Cpn,

10/02/23

..

21,918

20,429

5128436.SQ.FTS.B,

Zero

Cpn,

10/02/23

..

2,810

2,741

5128486.SQ.FTS.B,

Zero

Cpn,

10/03/23

..

1,541

1,503

5128561.SQ.FTS.B,

Zero

Cpn,

10/03/23

..

1,615

1,578

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

192

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5128581.SQ.FTS.B,

Zero

Cpn,

10/03/23

..

$

1,560

$

1,520

5128619.SQ.FTS.B,

Zero

Cpn,

10/03/23

..

3,063

2,958

5128657.SQ.FTS.B,

Zero

Cpn,

10/03/23

..

38,253

26,268

5128848.SQ.FTS.B,

Zero

Cpn,

10/03/23

..

2,205

2,055

5128870.SQ.FTS.B,

Zero

Cpn,

10/03/23

..

2,169

2,108

5128898.SQ.FTS.B,

Zero

Cpn,

10/03/23

..

13,692

13,271

5129018.SQ.FTS.B,

Zero

Cpn,

10/03/23

..

1,352

1,267

5129032.SQ.FTS.B,

Zero

Cpn,

10/03/23

..

1,295

1,250

5129041.SQ.FTS.B,

Zero

Cpn,

10/03/23

..

2,070

1,996

5129064.SQ.FTS.B,

Zero

Cpn,

10/03/23

..

2,798

2,679

5129089.SQ.FTS.B,

Zero

Cpn,

10/03/23

..

5,922

5,426

5129182.SQ.FTS.B,

Zero

Cpn,

10/03/23

..

13,988

12,401

5129273.SQ.FTS.B,

Zero

Cpn,

10/03/23

..

2,086

2,007

5129295.SQ.FTS.B,

Zero

Cpn,

10/03/23

..

4,637

4,540

5129633.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

954

867

5129651.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

8,154

7,933

5129823.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

3,874

3,480

5129887.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

3,509

2,929

5130180.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

1,121

1,016

5130213.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

4,710

4,438

5130263.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

3,985

3,740

5130332.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

17,662

13,595

5130485.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

5,766

5,586

5130555.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

2,433

2,336

5130585.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

1,022

899

5130588.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

4,292

4,032

5130643.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

2,031

1,910

5130717.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

4,325

4,170

5130749.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

11,970

11,684

5131019.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

923

908

5131068.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

1,306

1,224

5131093.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

1,894

1,821

5131120.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

5,532

5,242

5131176.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

1,638

1,605

5131245.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

4,326

4,213

5131365.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

1,769

1,643

5131389.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

2,783

2,394

5131420.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

2,558

2,460

5131487.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

9,510

9,160

5131555.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

3,365

2,792

5131624.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

24,772

22,963

5131781.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

47,043

45,357

5132144.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

7,639

7,200

5132216.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

11,692

11,391

5132407.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

2,930

2,842

5132433.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

544

510

5132436.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

3,864

3,587

5132463.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

15,963

15,642

5132810.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

1,481

1,254

5132841.SQ.FTS.B,

Zero

Cpn,

10/04/23

..

45,197

42,192

5132904.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

2,384

2,277

5132939.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

1,640

1,293

5132948.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

34,778

33,093

5133233.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

3,470

3,307

5133275.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

4,437

4,345

5133336.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

7,221

6,923

5133381.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

1,343

1,317

5133413.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

4,167

4,004

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5133481.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

$

1,278

$

1,224

5133524.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

6,365

6,138

5133672.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

1,018

946

5133685.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

918

896

5133706.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

311

270

5133720.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

3,615

3,519

5133863.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

4,870

4,703

5133951.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

1,142

1,099

5133957.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

5,277

5,073

5133996.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

32,649

31,607

5134453.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

1,519

1,383

5134479.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

22,218

20,128

5134670.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

697

639

5134680.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

12,924

12,472

5134858.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

743

728

5134892.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

6,530

5,407

5134938.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

5,827

4,994

5135012.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

2,874

2,765

5135068.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

25,738

24,986

5135449.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

1,235

1,073

5135476.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

4,148

3,981

5135538.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

747

713

5135556.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

15,841

15,312

5135763.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

11,660

11,186

5135875.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

962

943

5135905.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

2,687

2,602

5135920.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

4,173

4,083

5135989.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

7,043

5,808

5136013.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

1,755

1,722

5136070.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

2,470

1,547

5136077.SQ.FTS.B,

Zero

Cpn,

10/05/23

..

8,377

8,155

5136114.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

12,363

11,553

5136272.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

4,295

4,186

5136355.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

7,012

6,752

5136466.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

283

277

5136481.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

1,789

1,705

5136524.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

3,440

3,324

5136568.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

7,860

7,649

5136762.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

2,846

2,698

5136837.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

798

776

5136905.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

2,896

2,780

5136959.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

2,733

2,577

5137050.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

3,947

3,501

5137096.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

7,113

6,802

5137188.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

2,154

2,059

5138063.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

31,130

27,565

5138378.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

11,672

10,111

5138575.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

1,643

1,597

5138612.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

7,532

7,090

5138728.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

28,844

22,082

5138950.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

1,535

1,501

5139004.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

2,120

1,889

5139058.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

2,812

2,735

5139151.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

1,346

1,280

5139166.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

1,844

1,636

5139193.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

4,247

3,523

5139247.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

3,734

3,660

5139375.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

23,799

22,941

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

193

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5139704.SQ.FTS.B,

Zero

Cpn,

10/06/23

..

$

38,680

$

37,194

5141483.SQ.FTS.B,

Zero

Cpn,

10/07/23

..

1,120

1,082

5141488.SQ.FTS.B,

Zero

Cpn,

10/07/23

..

698

680

5141498.SQ.FTS.B,

Zero

Cpn,

10/07/23

..

2,460

2,383

5141509.SQ.FTS.B,

Zero

Cpn,

10/07/23

..

7,502

6,476

5141619.SQ.FTS.B,

Zero

Cpn,

10/07/23

..

2,640

2,192

5141660.SQ.FTS.B,

Zero

Cpn,

10/07/23

..

3,396

3,244

5141731.SQ.FTS.B,

Zero

Cpn,

10/07/23

..

5,995

5,795

5141784.SQ.FTS.B,

Zero

Cpn,

10/07/23

..

1,408

1,362

5141809.SQ.FTS.B,

Zero

Cpn,

10/07/23

..

2,886

2,678

5141827.SQ.FTS.B,

Zero

Cpn,

10/07/23

..

1,132

1,064

5141875.SQ.FTS.B,

Zero

Cpn,

10/07/23

..

46,951

45,392

5142960.SQ.FTS.B,

Zero

Cpn,

10/07/23

..

2,627

1,780

5143014.SQ.FTS.B,

Zero

Cpn,

10/07/23

..

2,299

2,220

5143148.SQ.FTS.B,

Zero

Cpn,

10/07/23

..

8,964

8,539

5143347.SQ.FTS.B,

Zero

Cpn,

10/07/23

..

11,003

10,601

5143483.SQ.FTS.B,

Zero

Cpn,

10/07/23

..

3,739

3,622

5143578.SQ.FTS.B,

Zero

Cpn,

10/07/23

..

1,328

1,273

5143602.SQ.FTS.B,

Zero

Cpn,

10/07/23

..

1,164

1,132

5143636.SQ.FTS.B,

Zero

Cpn,

10/07/23

..

36,844

35,388

5144485.SQ.FTS.B,

Zero

Cpn,

10/07/23

..

4,369

4,164

5144590.SQ.FTS.B,

Zero

Cpn,

10/07/23

..

974

847

5144613.SQ.FTS.B,

Zero

Cpn,

10/07/23

..

2,183

2,123

5144702.SQ.FTS.B,

Zero

Cpn,

10/07/23

..

2,530

1,319

5144747.SQ.FTS.B,

Zero

Cpn,

10/07/23

..

299

294

5144786.SQ.FTS.B,

Zero

Cpn,

10/07/23

..

5,485

5,187

5144855.SQ.FTS.B,

Zero

Cpn,

10/08/23

..

1,860

1,820

5144915.SQ.FTS.B,

Zero

Cpn,

10/08/23

..

763

738

5144923.SQ.FTS.B,

Zero

Cpn,

10/08/23

..

1,978

1,838

5145011.SQ.FTS.B,

Zero

Cpn,

10/08/23

..

1,619

1,570

5145104.SQ.FTS.B,

Zero

Cpn,

10/08/23

..

8,076

7,867

5145354.SQ.FTS.B,

Zero

Cpn,

10/08/23

..

2,479

2,222

5145394.SQ.FTS.B,

Zero

Cpn,

10/08/23

..

8,600

8,016

5145611.SQ.FTS.B,

Zero

Cpn,

10/08/23

..

1,499

991

5145652.SQ.FTS.B,

Zero

Cpn,

10/08/23

..

656

642

5145675.SQ.FTS.B,

Zero

Cpn,

10/08/23

..

3,479

2,135

5145759.SQ.FTS.B,

Zero

Cpn,

10/08/23

..

17,747

16,168

5146158.SQ.FTS.B,

Zero

Cpn,

10/08/23

..

9,533

9,081

5146342.SQ.FTS.B,

Zero

Cpn,

10/08/23

..

2,795

2,716

5146545.SQ.FTS.B,

Zero

Cpn,

10/08/23

..

3,127

2,417

5146594.SQ.FTS.B,

Zero

Cpn,

10/08/23

..

3,664

3,521

5146704.SQ.FTS.B,

Zero

Cpn,

10/08/23

..

8,504

7,770

5146843.SQ.FTS.B,

Zero

Cpn,

10/08/23

..

610

570

5146860.SQ.FTS.B,

Zero

Cpn,

10/08/23

..

1,643

1,533

5146924.SQ.FTS.B,

Zero

Cpn,

10/08/23

..

1,975

1,908

5146963.SQ.FTS.B,

Zero

Cpn,

10/08/23

..

11,687

11,334

5147227.SQ.FTS.B,

Zero

Cpn,

10/08/23

..

2,903

2,433

5147265.SQ.FTS.B,

Zero

Cpn,

10/08/23

..

440

419

5147291.SQ.FTS.B,

Zero

Cpn,

10/08/23

..

6,071

5,903

5147346.SQ.FTS.B,

Zero

Cpn,

10/08/23

..

2,891

2,616

5147385.SQ.FTS.B,

Zero

Cpn,

10/08/23

..

7,339

7,100

5147506.SQ.FTS.B,

Zero

Cpn,

10/08/23

..

7,051

6,409

5147664.SQ.FTS.B,

Zero

Cpn,

10/08/23

..

2,685

2,546

5147684.SQ.FTS.B,

Zero

Cpn,

10/08/23

..

15,890

15,249

5147977.SQ.FTS.B,

Zero

Cpn,

10/08/23

..

26,506

25,661

5148102.SQ.FTS.B,

Zero

Cpn,

10/09/23

..

7,084

6,926

5148179.SQ.FTS.B,

Zero

Cpn,

10/09/23

..

1,445

1,410

5148185.SQ.FTS.B,

Zero

Cpn,

10/09/23

..

2,087

1,553

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5148260.SQ.FTS.B,

Zero

Cpn,

10/09/23

..

$

4,310

$

4,047

5148283.SQ.FTS.B,

Zero

Cpn,

10/09/23

..

1,298

1,124

5148295.SQ.FTS.B,

Zero

Cpn,

10/09/23

..

5,166

4,786

5148335.SQ.FTS.B,

Zero

Cpn,

10/09/23

..

1,276

1,216

5148361.SQ.FTS.B,

Zero

Cpn,

10/09/23

..

4,854

4,705

5148417.SQ.FTS.B,

Zero

Cpn,

10/09/23

..

303

291

5148419.SQ.FTS.B,

Zero

Cpn,

10/09/23

..

6,868

4,895

5148467.SQ.FTS.B,

Zero

Cpn,

10/09/23

..

3,412

3,290

5148494.SQ.FTS.B,

Zero

Cpn,

10/09/23

..

934

423

5148498.SQ.FTS.B,

Zero

Cpn,

10/09/23

..

8,044

5,246

5148549.SQ.FTS.B,

Zero

Cpn,

10/09/23

..

417

343

5148553.SQ.FTS.B,

Zero

Cpn,

10/09/23

..

12,293

8,442

5148659.SQ.FTS.B,

Zero

Cpn,

10/09/23

..

5,216

5,013

5148715.SQ.FTS.B,

Zero

Cpn,

10/09/23

..

2,297

2,140

5148755.SQ.FTS.B,

Zero

Cpn,

10/09/23

..

2,214

2,038

5148788.SQ.FTS.B,

Zero

Cpn,

10/09/23

..

8,782

8,502

5148875.SQ.FTS.B,

Zero

Cpn,

10/10/23

..

5,255

4,884

5148924.SQ.FTS.B,

Zero

Cpn,

10/10/23

..

394

365

5148934.SQ.FTS.B,

Zero

Cpn,

10/10/23

..

7,179

6,467

5148983.SQ.FTS.B,

Zero

Cpn,

10/10/23

..

4,184

4,067

5149037.SQ.FTS.B,

Zero

Cpn,

10/10/23

..

2,185

1,891

5149051.SQ.FTS.B,

Zero

Cpn,

10/10/23

..

242

238

5149056.SQ.FTS.B,

Zero

Cpn,

10/10/23

..

2,350

2,289

5149079.SQ.FTS.B,

Zero

Cpn,

10/10/23

..

2,112

1,858

5149099.SQ.FTS.B,

Zero

Cpn,

10/10/23

..

1,399

1,362

5149110.SQ.FTS.B,

Zero

Cpn,

10/10/23

..

2,353

2,250

5149124.SQ.FTS.B,

Zero

Cpn,

10/10/23

..

8,322

7,997

5149206.SQ.FTS.B,

Zero

Cpn,

10/10/23

..

427

379

5149217.SQ.FTS.B,

Zero

Cpn,

10/10/23

..

2,592

2,526

5149258.SQ.FTS.B,

Zero

Cpn,

10/10/23

..

1,566

1,282

5149279.SQ.FTS.B,

Zero

Cpn,

10/10/23

..

11,265

10,649

5149378.SQ.FTS.B,

Zero

Cpn,

10/10/23

..

673

631

5149391.SQ.FTS.B,

Zero

Cpn,

10/10/23

..

2,548

2,470

5149412.SQ.FTS.B,

Zero

Cpn,

10/10/23

..

518

393

5149413.SQ.FTS.B,

Zero

Cpn,

10/10/23

..

11,554

11,237

5149540.SQ.FTS.B,

Zero

Cpn,

10/10/23

..

23,246

21,125

5150072.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

10,240

9,912

5150334.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

1,013

900

5150361.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

3,794

3,183

5150431.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

10,454

10,153

5150572.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

20,860

19,211

5150767.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

1,190

1,153

5150791.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

3,945

3,788

5150891.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

1,671

1,622

5150929.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

618

603

5150952.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

1,895

1,773

5151138.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

2,331

2,110

5151198.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

5,029

4,372

5151264.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

3,638

3,571

5151441.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

245

239

5151447.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

2,141

2,064

5151477.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

31,720

30,674

5152152.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

34,852

33,890

5152564.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

12,118

10,385

5152683.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

1,559

1,055

5152693.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

2,726

2,621

5152819.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

8,547

8,196

5152880.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

17,486

16,829

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

194

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5153071.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

$

6,874

$

6,679

5153145.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

1,285

1,244

5153160.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

3,734

3,621

5153196.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

16,754

12,849

5153337.SQ.FTS.B,

Zero

Cpn,

10/11/23

..

4,491

4,220

5153457.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

6,942

6,622

5153657.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

17,567

17,162

5154025.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

16,043

15,459

5154318.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

6,960

6,742

5154562.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

2,132

1,984

5154593.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

1,578

750

5154639.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

995

948

5154671.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

875

785

5154721.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

1,459

844

5154740.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

6,247

5,824

5154832.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

1,250

1,150

5154856.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

15,435

14,752

5155042.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

3,163

3,017

5155089.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

1,271

1,221

5155112.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

3,826

3,706

5155163.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

1,423

1,380

5155171.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

748

729

5155189.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

11,117

10,513

5155387.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

4,411

4,173

5155469.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

7,307

7,089

5155581.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

1,558

1,519

5155609.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

5,048

4,694

5155663.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

12,560

11,956

5155817.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

3,903

3,771

5155863.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

11,895

9,190

5155959.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

13,179

8,759

5156142.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

6,337

6,102

5156238.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

13,129

12,654

5156505.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

4,830

4,717

5156660.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

3,200

3,062

5156790.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

7,588

7,249

5156893.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

24,658

23,885

5157118.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

4,223

3,835

5157146.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

2,278

2,205

5157176.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

13,856

13,093

5157342.SQ.FTS.B,

Zero

Cpn,

10/12/23

..

6,081

5,905

5157404.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

5,235

5,076

5157536.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

20,644

20,073

5158212.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

3,050

2,974

5158276.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

4,505

3,800

5158316.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

903

859

5158326.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

2,215

2,152

5158378.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

1,909

1,864

5158431.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

1,247

1,180

5158493.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

1,417

1,289

5158516.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

873

853

5158543.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

1,249

1,220

5158638.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

4,329

4,084

5158713.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

2,899

2,785

5158852.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

1,911

1,802

5158889.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

5,992

5,728

5158954.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

2,737

2,643

5158980.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

2,294

2,223

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5159026.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

$

3,145

$

3,054

5159074.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

147

144

5159081.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

1,352

1,108

5159096.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

3,023

2,848

5159134.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

1,063

1,037

5159149.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

3,604

3,509

5159196.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

3,460

3,381

5159302.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

3,910

3,681

5159352.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

571

401

5159374.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

5,925

5,718

5159451.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

3,820

3,738

5159562.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

794

686

5159599.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

2,886

2,797

5159634.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

1,363

1,173

5159640.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

1,482

1,417

5159645.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

5,856

5,662

5159756.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

11,389

10,905

5159936.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

21,188

19,902

5160128.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

5,804

5,651

5160188.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

23,065

16,879

5160395.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

1,432

1,386

5160411.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

11,834

10,999

5160586.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

4,172

4,056

5160618.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

3,332

3,137

5160635.SQ.FTS.B,

Zero

Cpn,

10/13/23

..

17,715

16,095

5162510.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

10,312

10,031

5162614.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

3,020

2,929

5162647.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

1,823

1,780

5162671.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

2,100

1,887

5162686.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

2,706

2,592

5162720.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

3,317

2,962

5162745.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

2,122

2,087

5162922.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

2,968

2,771

5162946.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

5,163

5,053

5163052.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

509

478

5163062.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

5,737

5,382

5163175.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

1,560

1,448

5163207.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

2,146

2,077

5163241.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

236

226

5163243.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

947

928

5163276.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

622

572

5163326.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

370

361

5163342.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

6,974

6,331

5163410.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

1,201

1,145

5163436.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

4,385

4,125

5163499.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

5,588

4,263

5163555.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

5,240

5,047

5163695.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

21,275

20,563

5164349.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

4,306

3,853

5164408.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

17,208

16,590

5164669.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

1,104

981

5164711.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

6,053

5,846

5164786.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

5,150

5,037

5164900.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

4,214

2,372

5164941.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

1,477

1,447

5164998.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

1,773

1,013

5165012.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

1,172

1,104

5165031.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

745

651

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

195

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5165033.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

$

2,665

$

2,576

5165087.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

483

473

5165124.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

37,035

30,669

5165513.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

2,845

2,052

5165562.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

1,140

1,114

5165592.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

2,900

2,736

5165629.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

3,377

3,295

5165707.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

2,633

2,572

5165756.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

1,089

1,062

5165791.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

10,990

10,475

5166056.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

506

436

5166066.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

1,109

1,083

5166101.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

2,824

2,764

5166170.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

11,491

10,821

5166292.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

1,590

1,549

5166325.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

3,954

3,815

5166391.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

2,068

2,004

5166435.SQ.FTS.B,

Zero

Cpn,

10/14/23

..

1,367

1,290

5166523.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

4,377

2,505

5166585.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

43,441

38,832

5167021.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

782

755

5167039.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

1,614

1,499

5167068.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

10,884

9,923

5167306.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

3,039

2,766

5167388.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

3,697

3,604

5167520.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

2,586

2,360

5167589.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

2,705

2,065

5167670.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

3,446

3,255

5167809.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

1,155

1,036

5167874.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

801

714

5167908.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

1,762

1,570

5168022.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

2,888

2,713

5168235.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

1,600

1,186

5168275.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

7,677

7,254

5168509.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

3,517

3,391

5168577.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

8,970

8,565

5168788.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

3,504

3,395

5168881.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

413

404

5168896.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

2,888

2,729

5168955.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

6,115

5,951

5169044.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

446

428

5169089.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

5,191

3,824

5169154.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

2,615

2,113

5169194.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

3,167

2,974

5169382.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

7,865

7,161

5169588.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

5,232

5,056

5169657.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

7,078

6,820

5169718.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

1,235

1,178

5169727.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

1,058

816

5169799.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

1,659

1,600

5169869.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

1,148

1,077

5169907.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

11,009

8,930

5169972.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

1,235

1,205

5170006.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

2,357

2,109

5170025.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

7,914

7,219

5170127.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

12,012

11,631

5170247.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

1,222

1,177

5170271.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

5,927

5,400

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5170370.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

$

3,942

$

3,821

5170464.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

17,851

16,743

5170784.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

1,200

1,117

5170804.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

2,589

2,481

5170816.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

923

485

5170826.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

7,406

6,761

5170888.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

2,150

2,099

5170933.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

913

582

5170957.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

3,097

2,989

5171000.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

855

829

5171013.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

4,879

4,678

5171277.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

3,097

2,933

5171331.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

1,443

1,415

5171415.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

788

740

5171455.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

826

751

5171488.SQ.FTS.B,

Zero

Cpn,

10/15/23

..

7,166

6,899

5171657.SQ.FTS.B,

Zero

Cpn,

10/16/23

..

4,746

4,579

5171736.SQ.FTS.B,

Zero

Cpn,

10/16/23

..

7,073

6,938

5171875.SQ.FTS.B,

Zero

Cpn,

10/16/23

..

11,225

10,717

5172026.SQ.FTS.B,

Zero

Cpn,

10/16/23

..

2,657

2,477

5172055.SQ.FTS.B,

Zero

Cpn,

10/16/23

..

1,132

1,063

5172068.SQ.FTS.B,

Zero

Cpn,

10/16/23

..

23,572

22,842

5172313.SQ.FTS.B,

Zero

Cpn,

10/16/23

..

4,763

4,287

5172355.SQ.FTS.B,

Zero

Cpn,

10/16/23

..

1,308

967

5172359.SQ.FTS.B,

Zero

Cpn,

10/16/23

..

11,541

7,624

5172433.SQ.FTS.B,

Zero

Cpn,

10/16/23

..

2,935

2,347

5172479.SQ.FTS.B,

Zero

Cpn,

10/16/23

..

5,689

5,510

5172701.SQ.FTS.B,

Zero

Cpn,

10/17/23

..

1,862

1,699

5172717.SQ.FTS.B,

Zero

Cpn,

10/17/23

..

2,142

2,085

5172766.SQ.FTS.B,

Zero

Cpn,

10/17/23

..

7,333

7,072

5172912.SQ.FTS.B,

Zero

Cpn,

10/17/23

..

645

607

5172914.SQ.FTS.B,

Zero

Cpn,

10/17/23

..

1,526

1,412

5172970.SQ.FTS.B,

Zero

Cpn,

10/17/23

..

6,134

5,867

5173036.SQ.FTS.B,

Zero

Cpn,

10/17/23

..

1,922

982

5173053.SQ.FTS.B,

Zero

Cpn,

10/17/23

..

2,006

1,786

5173094.SQ.FTS.B,

Zero

Cpn,

10/17/23

..

8,783

8,455

5173199.SQ.FTS.B,

Zero

Cpn,

10/17/23

..

12,154

11,127

5173384.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

14,054

13,625

5174184.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

3,953

3,821

5174559.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

404

393

5174656.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

3,010

2,900

5175168.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

14,053

13,280

5175715.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

5,965

5,751

5175879.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

978

952

5175931.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

3,540

3,402

5175985.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

22,452

21,667

5176342.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

7,721

5,695

5176404.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

5,122

4,968

5176562.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

1,661

1,615

5176613.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

1,781

1,744

5176660.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

1,970

1,898

5176674.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

1,210

1,186

5176738.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

2,336

2,196

5176809.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

2,021

1,959

5176868.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

1,840

1,799

5176953.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

3,695

3,618

5177122.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

2,662

2,577

5177157.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

1,398

1,335

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

196

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5177173.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

$

216

$

197

5177177.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

1,788

1,722

5177228.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

2,393

2,328

5177387.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

753

725

5177446.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

4,477

4,298

5177521.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

20,990

20,319

5177866.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

4,182

3,995

5177966.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

62,921

58,543

5178604.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

1,252

1,214

5178623.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

18,665

17,891

5178878.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

1,394

1,358

5178911.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

20,886

18,140

5179167.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

4,000

3,866

5179437.SQ.FTS.B,

Zero

Cpn,

10/18/23

..

22,765

22,292

5179613.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

7,647

7,150

5179760.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

3,213

3,158

5180139.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

14,977

13,813

5181050.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

8,695

8,147

5182088.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

408

384

5182153.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

7,430

6,962

5182351.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

24,816

23,133

5182967.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

14,426

13,473

5183265.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

1,111

1,079

5183341.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

557

498

5183342.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

2,239

2,150

5183395.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

7,337

7,119

5184019.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

1,464

1,416

5184064.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

5,409

5,291

5184382.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

690

676

5184405.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

4,862

4,522

5184610.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

1,768

1,696

5184669.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

4,923

4,158

5184760.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

6,241

6,087

5184993.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

565

486

5185003.SQ.FTS.B,

Zero

Cpn,

10/19/23

..

34,921

31,875

5185667.SQ.FTS.B,

Zero

Cpn,

10/20/23

..

20,269

18,591

5186381.SQ.FTS.B,

Zero

Cpn,

10/20/23

..

29,654

28,416

5188384.SQ.FTS.B,

Zero

Cpn,

10/20/23

..

3,394

2,397

5188439.SQ.FTS.B,

Zero

Cpn,

10/20/23

..

3,990

3,649

5188491.SQ.FTS.B,

Zero

Cpn,

10/20/23

..

13,655

12,955

5188736.SQ.FTS.B,

Zero

Cpn,

10/20/23

..

5,003

3,772

5188817.SQ.FTS.B,

Zero

Cpn,

10/20/23

..

3,939

3,781

5188909.SQ.FTS.B,

Zero

Cpn,

10/20/23

..

10,993

8,546

5189037.SQ.FTS.B,

Zero

Cpn,

10/20/23

..

32,677

31,753

5189900.SQ.FTS.B,

Zero

Cpn,

10/20/23

..

3,497

3,405

5190008.SQ.FTS.B,

Zero

Cpn,

10/20/23

..

544

521

5190030.SQ.FTS.B,

Zero

Cpn,

10/20/23

..

8,699

8,449

5190188.SQ.FTS.B,

Zero

Cpn,

10/20/23

..

684

595

5190196.SQ.FTS.B,

Zero

Cpn,

10/20/23

..

37,747

36,128

5198087.SQ.FTS.B,

Zero

Cpn,

10/21/23

..

4,818

4,495

5198175.SQ.FTS.B,

Zero

Cpn,

10/21/23

..

3,139

2,831

5198220.SQ.FTS.B,

Zero

Cpn,

10/21/23

..

5,325

4,863

5198361.SQ.FTS.B,

Zero

Cpn,

10/21/23

..

9,627

5,006

5198552.SQ.FTS.B,

Zero

Cpn,

10/21/23

..

2,966

2,877

5198637.SQ.FTS.B,

Zero

Cpn,

10/21/23

..

1,476

1,118

5198671.SQ.FTS.B,

Zero

Cpn,

10/21/23

..

7,310

6,987

5198939.SQ.FTS.B,

Zero

Cpn,

10/21/23

..

1,143

1,105

5198990.SQ.FTS.B,

Zero

Cpn,

10/21/23

..

1,974

1,920

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5199201.SQ.FTS.B,

Zero

Cpn,

10/21/23

..

$

554

$

542

5199336.SQ.FTS.B,

Zero

Cpn,

10/21/23

..

2,686

2,629

5200352.SQ.FTS.B,

Zero

Cpn,

10/21/23

..

3,530

3,424

5200592.SQ.FTS.B,

Zero

Cpn,

10/21/23

..

1,942

1,687

5200668.SQ.FTS.B,

Zero

Cpn,

10/21/23

..

18,358

16,286

5201437.SQ.FTS.B,

Zero

Cpn,

10/21/23

..

2,985

2,837

5201657.SQ.FTS.B,

Zero

Cpn,

10/21/23

..

5,523

5,301

5201990.SQ.FTS.B,

Zero

Cpn,

10/21/23

..

5,854

5,606

5202205.SQ.FTS.B,

Zero

Cpn,

10/21/23

..

750

694

5202208.SQ.FTS.B,

Zero

Cpn,

10/21/23

..

384

375

5202232.SQ.FTS.B,

Zero

Cpn,

10/21/23

..

2,695

2,609

5202329.SQ.FTS.B,

Zero

Cpn,

10/21/23

..

7,990

7,652

5202534.SQ.FTS.B,

Zero

Cpn,

10/21/23

..

2,315

2,136

5202557.SQ.FTS.B,

Zero

Cpn,

10/21/23

..

1,577

1,542

5202704.SQ.FTS.B,

Zero

Cpn,

10/21/23

..

506

456

5202876.SQ.FTS.B,

Zero

Cpn,

10/21/23

..

22,630

21,715

5203616.SQ.FTS.B,

Zero

Cpn,

10/21/23

..

1,302

1,105

5203668.SQ.FTS.B,

Zero

Cpn,

10/21/23

..

14,672

12,964

5204074.SQ.FTS.B,

Zero

Cpn,

10/22/23

..

10,943

8,867

5204516.SQ.FTS.B,

Zero

Cpn,

10/22/23

..

12,116

8,391

5204754.SQ.FTS.B,

Zero

Cpn,

10/22/23

..

6,136

5,828

5205136.SQ.FTS.B,

Zero

Cpn,

10/22/23

..

1,015

991

5205534.SQ.FTS.B,

Zero

Cpn,

10/22/23

..

2,120

2,047

5205828.SQ.FTS.B,

Zero

Cpn,

10/22/23

..

6,468

6,220

5206325.SQ.FTS.B,

Zero

Cpn,

10/22/23

..

4,598

4,371

5206502.SQ.FTS.B,

Zero

Cpn,

10/22/23

..

5,151

4,958

5206685.SQ.FTS.B,

Zero

Cpn,

10/22/23

..

1,920

1,816

5206778.SQ.FTS.B,

Zero

Cpn,

10/22/23

..

1,956

1,885

5206859.SQ.FTS.B,

Zero

Cpn,

10/22/23

..

4,460

4,265

5207064.SQ.FTS.B,

Zero

Cpn,

10/22/23

..

15,905

15,469

5207596.SQ.FTS.B,

Zero

Cpn,

10/22/23

..

14,903

13,431

5207959.SQ.FTS.B,

Zero

Cpn,

10/22/23

..

3,375

2,940

5208046.SQ.FTS.B,

Zero

Cpn,

10/22/23

..

17,244

16,684

5208541.SQ.FTS.B,

Zero

Cpn,

10/22/23

..

6,034

5,683

5208597.SQ.FTS.B,

Zero

Cpn,

10/22/23

..

3,208

3,057

5208634.SQ.FTS.B,

Zero

Cpn,

10/22/23

..

2,331

2,197

5208682.SQ.FTS.B,

Zero

Cpn,

10/22/23

..

5,070

4,888

5208917.SQ.FTS.B,

Zero

Cpn,

10/22/23

..

409

396

5208956.SQ.FTS.B,

Zero

Cpn,

10/22/23

..

55,926

53,770

5209775.SQ.FTS.B,

Zero

Cpn,

10/23/23

..

4,267

3,986

5209812.SQ.FTS.B,

Zero

Cpn,

10/23/23

..

4,979

4,655

5209849.SQ.FTS.B,

Zero

Cpn,

10/23/23

..

9,393

8,995

5209929.SQ.FTS.B,

Zero

Cpn,

10/23/23

..

2,468

2,374

5209945.SQ.FTS.B,

Zero

Cpn,

10/23/23

..

2,812

2,744

5209993.SQ.FTS.B,

Zero

Cpn,

10/23/23

..

2,134

2,083

5210032.SQ.FTS.B,

Zero

Cpn,

10/23/23

..

2,859

2,728

5210063.SQ.FTS.B,

Zero

Cpn,

10/23/23

..

1,730

1,637

5210084.SQ.FTS.B,

Zero

Cpn,

10/23/23

..

3,357

3,235

5210126.SQ.FTS.B,

Zero

Cpn,

10/23/23

..

10,239

9,699

5210235.SQ.FTS.B,

Zero

Cpn,

10/23/23

..

8,295

8,023

5210345.SQ.FTS.B,

Zero

Cpn,

10/23/23

..

1,750

1,654

5210367.SQ.FTS.B,

Zero

Cpn,

10/23/23

..

13,470

12,983

5210517.SQ.FTS.B,

Zero

Cpn,

10/24/23

..

962

882

5210528.SQ.FTS.B,

Zero

Cpn,

10/24/23

..

9,070

8,659

5210624.SQ.FTS.B,

Zero

Cpn,

10/24/23

..

961

588

5210628.SQ.FTS.B,

Zero

Cpn,

10/24/23

..

27,659

26,575

5210968.SQ.FTS.B,

Zero

Cpn,

10/24/23

..

4,127

3,923

5211023.SQ.FTS.B,

Zero

Cpn,

10/24/23

..

297

281

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

197

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5211029.SQ.FTS.B,

Zero

Cpn,

10/24/23

..

$

1,338

$

1,245

5211051.SQ.FTS.B,

Zero

Cpn,

10/24/23

..

1,445

1,367

5211071.SQ.FTS.B,

Zero

Cpn,

10/24/23

..

23,530

22,803

5212195.SQ.FTS.B,

Zero

Cpn,

10/25/23

..

2,507

2,374

5212514.SQ.FTS.B,

Zero

Cpn,

10/25/23

..

586

549

5212525.SQ.FTS.B,

Zero

Cpn,

10/25/23

..

1,279

1,253

5212644.SQ.FTS.B,

Zero

Cpn,

10/25/23

..

1,358

1,202

5212745.SQ.FTS.B,

Zero

Cpn,

10/25/23

..

7,229

6,990

5213075.SQ.FTS.B,

Zero

Cpn,

10/25/23

..

2,398

2,307

5213151.SQ.FTS.B,

Zero

Cpn,

10/25/23

..

1,773

1,722

5213208.SQ.FTS.B,

Zero

Cpn,

10/25/23

..

2,274

1,860

5213249.SQ.FTS.B,

Zero

Cpn,

10/25/23

..

1,381

1,187

5213284.SQ.FTS.B,

Zero

Cpn,

10/25/23

..

8,355

5,185

5213362.SQ.FTS.B,

Zero

Cpn,

10/25/23

..

1,162

1,121

5213411.SQ.FTS.B,

Zero

Cpn,

10/25/23

..

728

714

5213490.SQ.FTS.B,

Zero

Cpn,

10/25/23

..

8,017

7,699

5213717.SQ.FTS.B,

Zero

Cpn,

10/25/23

..

12,297

12,061

5214110.SQ.FTS.B,

Zero

Cpn,

10/25/23

..

1,813

1,776

5214183.SQ.FTS.B,

Zero

Cpn,

10/25/23

..

1,352

996

5214230.SQ.FTS.B,

Zero

Cpn,

10/25/23

..

4,022

3,848

5214294.SQ.FTS.B,

Zero

Cpn,

10/25/23

..

12,769

12,001

5214538.SQ.FTS.B,

Zero

Cpn,

10/25/23

..

8,862

8,385

5214657.SQ.FTS.B,

Zero

Cpn,

10/25/23

..

2,789

2,686

5214676.SQ.FTS.B,

Zero

Cpn,

10/25/23

..

15,362

12,787

5214914.SQ.FTS.B,

Zero

Cpn,

10/25/23

..

3,975

3,845

5214994.SQ.FTS.B,

Zero

Cpn,

10/25/23

..

861

813

5215021.SQ.FTS.B,

Zero

Cpn,

10/25/23

..

16,022

12,298

5215190.SQ.FTS.B,

Zero

Cpn,

10/25/23

..

7,218

6,823

5215325.SQ.FTS.B,

Zero

Cpn,

10/25/23

..

33,526

32,041

5215921.SQ.FTS.B,

Zero

Cpn,

10/25/23

..

1,087

1,027

5215946.SQ.FTS.B,

Zero

Cpn,

10/25/23

..

2,567

2,442

5216021.SQ.FTS.B,

Zero

Cpn,

10/25/23

..

3,763

2,828

5216201.SQ.FTS.B,

Zero

Cpn,

10/26/23

..

1,976

1,497

5216243.SQ.FTS.B,

Zero

Cpn,

10/26/23

..

4,245

3,819

5216309.SQ.FTS.B,

Zero

Cpn,

10/26/23

..

690

658

5216351.SQ.FTS.B,

Zero

Cpn,

10/26/23

..

2,137

1,989

5216378.SQ.FTS.B,

Zero

Cpn,

10/26/23

..

15,109

14,505

5216795.SQ.FTS.B,

Zero

Cpn,

10/26/23

..

526

264

5216825.SQ.FTS.B,

Zero

Cpn,

10/26/23

..

3,734

3,615

5217058.SQ.FTS.B,

Zero

Cpn,

10/26/23

..

4,835

4,629

5217640.SQ.FTS.B,

Zero

Cpn,

10/26/23

..

2,783

2,692

5217844.SQ.FTS.B,

Zero

Cpn,

10/26/23

..

1,321

1,212

5217941.SQ.FTS.B,

Zero

Cpn,

10/26/23

..

1,172

1,137

5218016.SQ.FTS.B,

Zero

Cpn,

10/26/23

..

6,366

5,940

5218267.SQ.FTS.B,

Zero

Cpn,

10/26/23

..

3,556

3,465

5218372.SQ.FTS.B,

Zero

Cpn,

10/26/23

..

1,339

1,240

5218419.SQ.FTS.B,

Zero

Cpn,

10/26/23

..

1,186

1,084

5218458.SQ.FTS.B,

Zero

Cpn,

10/26/23

..

8,009

5,262

5218653.SQ.FTS.B,

Zero

Cpn,

10/26/23

..

590

570

5218671.SQ.FTS.B,

Zero

Cpn,

10/26/23

..

1,435

1,373

5218743.SQ.FTS.B,

Zero

Cpn,

10/26/23

..

18,381

12,831

5219121.SQ.FTS.B,

Zero

Cpn,

10/26/23

..

57,380

55,736

5220457.SQ.FTS.B,

Zero

Cpn,

10/26/23

..

7,305

7,070

5220558.SQ.FTS.B,

Zero

Cpn,

10/26/23

..

2,281

2,151

5220607.SQ.FTS.B,

Zero

Cpn,

10/26/23

..

4,550

4,298

5220666.SQ.FTS.B,

Zero

Cpn,

10/26/23

..

925

903

5220688.SQ.FTS.B,

Zero

Cpn,

10/26/23

..

72,927

68,923

5220792.SQ.FTS.B,

Zero

Cpn,

10/27/23

..

518

509

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5220839.SQ.FTS.B,

Zero

Cpn,

10/27/23

..

$

4,496

$

4,378

5220954.SQ.FTS.B,

Zero

Cpn,

10/27/23

..

2,610

2,078

5221093.SQ.FTS.B,

Zero

Cpn,

10/27/23

..

1,637

1,525

5221126.SQ.FTS.B,

Zero

Cpn,

10/27/23

..

6,395

6,113

5221348.SQ.FTS.B,

Zero

Cpn,

10/27/23

..

3,570

3,294

5221577.SQ.FTS.B,

Zero

Cpn,

10/27/23

..

9,801

9,443

5222201.SQ.FTS.B,

Zero

Cpn,

10/27/23

..

2,124

2,034

5222372.SQ.FTS.B,

Zero

Cpn,

10/27/23

..

9,826

9,418

5222713.SQ.FTS.B,

Zero

Cpn,

10/27/23

..

3,332

3,001

5222876.SQ.FTS.B,

Zero

Cpn,

10/27/23

..

5,928

5,721

5223082.SQ.FTS.B,

Zero

Cpn,

10/27/23

..

5,605

5,380

5223207.SQ.FTS.B,

Zero

Cpn,

10/27/23

..

3,438

3,178

5223356.SQ.FTS.B,

Zero

Cpn,

10/27/23

..

2,619

2,550

5223503.SQ.FTS.B,

Zero

Cpn,

10/27/23

..

772

741

5223519.SQ.FTS.B,

Zero

Cpn,

10/27/23

..

11,037

10,310

5223658.SQ.FTS.B,

Zero

Cpn,

10/27/23

..

2,742

2,619

5223697.SQ.FTS.B,

Zero

Cpn,

10/27/23

..

1,266

1,198

5223726.SQ.FTS.B,

Zero

Cpn,

10/27/23

..

9,474

8,954

5223786.SQ.FTS.B,

Zero

Cpn,

10/27/23

..

2,105

1,882

5223853.SQ.FTS.B,

Zero

Cpn,

10/27/23

..

7,491

7,226

5224101.SQ.FTS.B,

Zero

Cpn,

10/27/23

..

739

629

5224118.SQ.FTS.B,

Zero

Cpn,

10/27/23

..

2,505

2,433

5224182.SQ.FTS.B,

Zero

Cpn,

10/27/23

..

2,427

2,209

5224272.SQ.FTS.B,

Zero

Cpn,

10/27/23

..

8,034

7,705

5224488.SQ.FTS.B,

Zero

Cpn,

10/27/23

..

7,386

6,299

5224611.SQ.FTS.B,

Zero

Cpn,

10/27/23

..

1,654

1,528

5224655.SQ.FTS.B,

Zero

Cpn,

10/27/23

..

2,505

2,431

5224675.SQ.FTS.B,

Zero

Cpn,

10/27/23

..

794

653

5224685.SQ.FTS.B,

Zero

Cpn,

10/27/23

..

1,333

1,304

5224722.SQ.FTS.B,

Zero

Cpn,

10/27/23

..

8,227

7,999

5224927.SQ.FTS.B,

Zero

Cpn,

10/27/23

..

3,481

3,353

5224989.SQ.FTS.B,

Zero

Cpn,

10/27/23

..

13,000

12,605

5225242.SQ.FTS.B,

Zero

Cpn,

10/27/23

..

3,622

3,551

5230039.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

26,771

25,727

5230520.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

2,288

2,203

5230554.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

1,635

1,570

5230591.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

5,729

5,470

5231530.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

6,284

5,160

5231671.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

12,835

12,284

5232002.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

5,090

4,408

5232133.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

2,546

2,459

5232241.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

7,189

6,898

5232406.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

2,695

2,433

5232430.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

2,333

1,909

5232561.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

1,675

1,611

5232605.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

3,773

3,362

5232718.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

1,282

957

5232725.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

2,229

2,138

5232775.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

1,958

1,872

5232800.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

9,003

8,638

5233022.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

3,555

3,411

5233092.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

353

334

5233097.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

1,953

1,877

5233128.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

9,953

9,437

5233355.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

3,609

3,453

5233401.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

16,723

15,359

5233688.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

19,501

18,283

5233916.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

1,398

1,332

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

198

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5233985.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

$

10,343

$

9,021

5234153.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

3,356

3,180

5234236.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

4,030

3,880

5234308.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

3,470

2,061

5234363.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

1,242

1,197

5234431.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

5,151

4,461

5234519.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

6,394

6,135

5234627.SQ.FTS.B,

Zero

Cpn,

10/28/23

..

34,670

33,271

5235162.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

781

736

5235201.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

1,455

997

5235231.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

815

794

5235270.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

3,679

3,533

5235347.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

31,546

30,257

5236218.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

2,913

2,800

5236297.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

4,002

3,463

5236593.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

3,010

2,844

5236786.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

2,163

2,079

5236811.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

5,393

5,175

5237000.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

8,036

7,710

5237207.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

19,608

18,316

5237634.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

1,293

1,255

5237663.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

3,475

3,138

5237751.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

1,270

924

5237770.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

1,488

1,437

5237822.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

1,366

1,268

5237851.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

1,082

1,049

5237930.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

2,711

1,782

5237970.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

30,786

29,535

5238523.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

1,156

1,105

5238549.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

29,223

27,468

5239474.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

5,301

4,983

5239655.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

1,243

1,200

5239681.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

1,044

993

5239708.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

12,236

11,600

5239954.SQ.FTS.B,

Zero

Cpn,

10/29/23

..

3,440

3,299

5239980.SQ.FTS.B,

Zero

Cpn,

10/30/23

..

4,921

4,035

5240007.SQ.FTS.B,

Zero

Cpn,

10/30/23

..

834

789

5240024.SQ.FTS.B,

Zero

Cpn,

10/30/23

..

4,033

3,722

5240149.SQ.FTS.B,

Zero

Cpn,

10/30/23

..

883

572

5240154.SQ.FTS.B,

Zero

Cpn,

10/30/23

..

1,039

942

5240164.SQ.FTS.B,

Zero

Cpn,

10/30/23

..

2,626

2,367

5240213.SQ.FTS.B,

Zero

Cpn,

10/30/23

..

3,040

2,903

5240240.SQ.FTS.B,

Zero

Cpn,

10/30/23

..

17,999

17,219

5240379.SQ.FTS.B,

Zero

Cpn,

10/30/23

..

486

467

5240385.SQ.FTS.B,

Zero

Cpn,

10/30/23

..

2,521

1,897

5240412.SQ.FTS.B,

Zero

Cpn,

10/30/23

..

220

213

5240420.SQ.FTS.B,

Zero

Cpn,

10/30/23

..

481

466

5240429.SQ.FTS.B,

Zero

Cpn,

10/30/23

..

3,637

3,454

5240456.SQ.FTS.B,

Zero

Cpn,

10/30/23

..

22,123

20,857

5240674.SQ.FTS.B,

Zero

Cpn,

10/30/23

..

9,497

8,153

5240746.SQ.FTS.B,

Zero

Cpn,

11/01/23

..

2,212

1,636

5240754.SQ.FTS.B,

Zero

Cpn,

11/01/23

..

1,496

1,436

5240773.SQ.FTS.B,

Zero

Cpn,

11/01/23

..

4,920

4,720

5240824.SQ.FTS.B,

Zero

Cpn,

11/01/23

..

6,596

5,713

5240875.SQ.FTS.B,

Zero

Cpn,

11/01/23

..

5,458

5,054

5240947.SQ.FTS.B,

Zero

Cpn,

11/01/23

..

1,774

1,484

5240971.SQ.FTS.B,

Zero

Cpn,

11/01/23

..

305

295

5240977.SQ.FTS.B,

Zero

Cpn,

11/01/23

..

5,056

4,573

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5241033.SQ.FTS.B,

Zero

Cpn,

11/01/23

..

$

8,101

$

7,794

5241101.SQ.FTS.B,

Zero

Cpn,

11/01/23

..

12,614

11,945

5241222.SQ.FTS.B,

Zero

Cpn,

11/01/23

..

7,312

6,865

5241268.SQ.FTS.B,

Zero

Cpn,

11/01/23

..

3,668

3,477

5241296.SQ.FTS.B,

Zero

Cpn,

11/01/23

..

9,554

9,036

5241394.SQ.FTS.B,

Zero

Cpn,

11/01/23

..

3,065

2,940

5241427.SQ.FTS.B,

Zero

Cpn,

11/01/23

..

7,079

6,791

5241485.SQ.FTS.B,

Zero

Cpn,

11/01/23

..

1,986

1,872

5241505.SQ.FTS.B,

Zero

Cpn,

11/01/23

..

6,800

6,440

5241561.SQ.FTS.B,

Zero

Cpn,

11/01/23

..

1,958

1,857

5241583.SQ.FTS.B,

Zero

Cpn,

11/01/23

..

1,016

984

5241689.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

5,429

4,976

5241719.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

2,521

2,418

5241766.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

29,416

28,210

5242957.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

1,506

1,454

5243068.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

455

440

5243092.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

1,709

1,648

5243169.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

606

575

5243201.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

5,283

5,040

5243319.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

2,008

1,653

5243352.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

24,753

22,824

5243643.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

5,087

4,706

5243677.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

1,268

1,215

5243711.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

3,627

3,520

5243886.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

255

247

5243893.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

2,643

2,552

5243958.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

3,868

3,682

5244033.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

513

469

5244047.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

2,082

2,007

5244095.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

501

484

5244117.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

4,099

3,937

5244182.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

3,289

3,165

5244265.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

37,705

35,381

5244657.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

59,174

55,536

5245231.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

5,808

5,570

5245343.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

26,552

25,469

5245755.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

2,685

2,585

5245789.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

2,409

2,330

5245829.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

1,492

1,162

5245849.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

2,620

2,514

5245885.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

13,982

13,487

5246163.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

3,271

3,138

5246189.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

1,258

1,045

5246212.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

2,910

2,792

5246240.SQ.FTS.B,

Zero

Cpn,

11/02/23

..

25,203

24,179

5246660.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

6,480

6,216

5246781.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

3,013

2,890

5246828.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

4,372

3,922

5246896.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

2,926

2,545

5246929.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

5,647

4,165

5247012.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

2,219

2,140

5247094.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

14,179

11,682

5247355.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

30,571

29,425

5248525.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

9,364

8,817

5248709.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

2,910

2,792

5248758.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

4,021

3,845

5248838.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

4,143

3,603

5248917.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

2,792

2,429

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

199

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5248958.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

$

2,722

$

2,610

5249039.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

3,557

3,421

5249081.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

2,023

1,522

5249097.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

7,717

7,404

5249180.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

13,899

13,312

5249336.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

20,437

17,589

5249597.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

15,811

13,020

5249841.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

8,105

7,692

5250046.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

219

199

5250049.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

10,930

10,482

5250337.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

639

487

5250360.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

32,622

30,790

5251057.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

4,601

4,331

5251160.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

2,605

2,468

5251194.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

3,707

3,511

5251234.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

20,513

19,572

5251513.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

10,388

9,841

5251638.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

4,303

3,364

5251685.SQ.FTS.B,

Zero

Cpn,

11/03/23

..

15,446

14,725

5251962.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

5,903

5,409

5252071.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

707

583

5252089.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

12,763

12,205

5252661.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

97

94

5252666.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

1,127

1,068

5253447.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

5,226

4,577

5253900.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

971

934

5254002.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

6,543

6,239

5254242.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

2,994

2,722

5254370.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

7,311

7,012

5254550.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

5,272

5,064

5254710.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

711

663

5254719.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

1,863

1,792

5254742.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

10,217

9,816

5254946.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

7,024

6,764

5255061.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

3,230

3,088

5255110.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

33,172

30,592

5255678.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

4,528

4,150

5255770.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

42,196

40,457

5256414.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

2,010

1,841

5256434.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

19,059

18,279

5256829.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

3,937

3,754

5256867.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

335

326

5256884.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

2,327

2,198

5256936.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

5,975

5,515

5257033.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

6,577

6,292

5257151.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

1,760

1,691

5257171.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

6,903

6,413

5257288.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

2,269

2,168

5257316.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

17,121

16,416

5257593.SQ.FTS.B,

Zero

Cpn,

11/04/23

..

12,569

12,120

5262319.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

15,663

15,024

5262602.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

4,320

3,878

5262681.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

1,911

1,822

5262702.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

1,591

1,525

5262769.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

2,290

2,182

5262859.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

7,762

7,159

5263119.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

2,293

2,121

5263193.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

9,774

9,257

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5263791.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

$

4,660

$

3,933

5263919.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

1,986

1,905

5264013.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

4,411

3,945

5264132.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

44,328

38,185

5264704.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

5,729

5,491

5264796.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

10,251

9,255

5264938.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

2,250

1,856

5265036.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

1,958

1,774

5265074.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

1,082

817

5265097.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

3,279

3,126

5265148.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

10,332

9,905

5265293.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

3,909

3,748

5265369.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

13,394

12,801

5265614.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

7,227

6,840

5265732.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

8,303

7,713

5265868.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

15,617

14,777

5266095.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

3,027

2,902

5266178.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

3,856

3,690

5266252.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

5,501

5,275

5266370.SQ.FTS.B,

Zero

Cpn,

11/05/23

..

46,136

42,135

5267130.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

720

657

5267151.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

4,775

4,520

5267264.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

9,261

8,765

5267431.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

1,054

965

5267526.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

274

266

5267539.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

4,756

4,138

5267675.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

1,616

1,529

5267768.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

2,402

2,301

5267827.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

1,135

987

5267887.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

5,804

5,564

5268105.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

7,887

7,432

5268765.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

6,151

5,750

5269681.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

5,630

5,327

5269821.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

6,890

6,606

5269961.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

8,119

7,780

5270176.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

9,883

8,954

5270406.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

4,069

3,817

5270493.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

1,641

1,009

5270537.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

5,391

5,100

5270689.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

15,409

14,868

5270970.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

7,389

7,081

5271161.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

1,401

1,335

5271196.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

5,225

5,008

5271271.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

888

846

5271294.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

1,612

1,545

5271348.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

5,849

5,636

5271481.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

2,262

1,968

5271502.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

3,708

3,565

5271551.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

3,417

3,276

5271600.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

11,867

11,231

5271710.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

4,528

4,340

5271767.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

5,228

4,737

5271830.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

2,711

2,586

5271859.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

641

617

5271882.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

6,771

6,474

5272082.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

1,146

1,102

5272100.SQ.FTS.B,

Zero

Cpn,

11/06/23

..

39,087

37,458

5272554.SQ.FTS.B,

Zero

Cpn,

11/07/23

..

30,860

28,656

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

200

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5272830.SQ.FTS.B,

Zero

Cpn,

11/07/23

..

$

4,637

$

4,455

5272855.SQ.FTS.B,

Zero

Cpn,

11/07/23

..

4,893

4,663

5272888.SQ.FTS.B,

Zero

Cpn,

11/07/23

..

7,754

7,337

5272943.SQ.FTS.B,

Zero

Cpn,

11/07/23

..

2,218

2,137

5272960.SQ.FTS.B,

Zero

Cpn,

11/07/23

..

530

513

5272980.SQ.FTS.B,

Zero

Cpn,

11/07/23

..

522

475

5272986.SQ.FTS.B,

Zero

Cpn,

11/07/23

..

3,994

3,699

5273012.SQ.FTS.B,

Zero

Cpn,

11/07/23

..

1,798

1,713

5273023.SQ.FTS.B,

Zero

Cpn,

11/07/23

..

5,603

5,398

5273081.SQ.FTS.B,

Zero

Cpn,

11/07/23

..

2,029

1,923

5273095.SQ.FTS.B,

Zero

Cpn,

11/07/23

..

1,921

1,626

5273106.SQ.FTS.B,

Zero

Cpn,

11/07/23

..

3,098

2,866

5273132.SQ.FTS.B,

Zero

Cpn,

11/07/23

..

307

298

5273136.SQ.FTS.B,

Zero

Cpn,

11/07/23

..

1,619

1,413

5273145.SQ.FTS.B,

Zero

Cpn,

11/07/23

..

4,916

4,752

5273215.SQ.FTS.B,

Zero

Cpn,

11/07/23

..

4,067

3,021

5273246.SQ.FTS.B,

Zero

Cpn,

11/08/23

..

704

679

5273264.SQ.FTS.B,

Zero

Cpn,

11/08/23

..

11,359

10,409

5273369.SQ.FTS.B,

Zero

Cpn,

11/08/23

..

2,082

1,931

5273389.SQ.FTS.B,

Zero

Cpn,

11/08/23

..

3,880

3,719

5273441.SQ.FTS.B,

Zero

Cpn,

11/08/23

..

2,429

2,336

5273466.SQ.FTS.B,

Zero

Cpn,

11/08/23

..

1,452

1,385

5273479.SQ.FTS.B,

Zero

Cpn,

11/08/23

..

15,377

14,759

5273656.SQ.FTS.B,

Zero

Cpn,

11/08/23

..

437

397

5273663.SQ.FTS.B,

Zero

Cpn,

11/08/23

..

1,104

965

5273671.SQ.FTS.B,

Zero

Cpn,

11/08/23

..

744

710

5273695.SQ.FTS.B,

Zero

Cpn,

11/08/23

..

15,871

15,225

5273816.SQ.FTS.B,

Zero

Cpn,

11/08/23

..

1,900

1,823

5273838.SQ.FTS.B,

Zero

Cpn,

11/08/23

..

1,945

1,782

5273861.SQ.FTS.B,

Zero

Cpn,

11/08/23

..

5,463

5,048

5273914.SQ.FTS.B,

Zero

Cpn,

11/08/23

..

12,488

11,973

5274338.SQ.FTS.B,

Zero

Cpn,

11/09/23

..

6,751

6,443

5274762.SQ.FTS.B,

Zero

Cpn,

11/09/23

..

899

823

5274772.SQ.FTS.B,

Zero

Cpn,

11/09/23

..

443

429

5274887.SQ.FTS.B,

Zero

Cpn,

11/09/23

..

1,770

1,663

5274994.SQ.FTS.B,

Zero

Cpn,

11/09/23

..

954

905

5275130.SQ.FTS.B,

Zero

Cpn,

11/09/23

..

915

884

5275301.SQ.FTS.B,

Zero

Cpn,

11/09/23

..

692

657

5275400.SQ.FTS.B,

Zero

Cpn,

11/09/23

..

1,902

1,821

5275469.SQ.FTS.B,

Zero

Cpn,

11/09/23

..

14,868

12,848

5275777.SQ.FTS.B,

Zero

Cpn,

11/09/23

..

6,231

5,982

5275908.SQ.FTS.B,

Zero

Cpn,

11/09/23

..

1,461

1,399

5275926.SQ.FTS.B,

Zero

Cpn,

11/09/23

..

5,118

4,791

5276008.SQ.FTS.B,

Zero

Cpn,

11/09/23

..

58,985

55,031

5277047.SQ.FTS.B,

Zero

Cpn,

11/09/23

..

2,677

2,506

5277064.SQ.FTS.B,

Zero

Cpn,

11/09/23

..

14,634

13,137

5277179.SQ.FTS.B,

Zero

Cpn,

11/09/23

..

15,243

14,665

5277409.SQ.FTS.B,

Zero

Cpn,

11/09/23

..

2,863

2,754

5277518.SQ.FTS.B,

Zero

Cpn,

11/09/23

..

1,112

1,055

5277620.SQ.FTS.B,

Zero

Cpn,

11/09/23

..

3,594

3,443

5277648.SQ.FTS.B,

Zero

Cpn,

11/09/23

..

3,627

3,456

5277691.SQ.FTS.B,

Zero

Cpn,

11/09/23

..

4,285

4,102

5277735.SQ.FTS.B,

Zero

Cpn,

11/09/23

..

49,562

46,933

5278286.SQ.FTS.B,

Zero

Cpn,

11/09/23

..

786

717

5278342.SQ.FTS.B,

Zero

Cpn,

11/09/23

..

5,948

5,448

5278421.SQ.FTS.B,

Zero

Cpn,

11/09/23

..

6,435

6,188

5278472.SQ.FTS.B,

Zero

Cpn,

11/09/23

..

2,499

2,382

5278500.SQ.FTS.B,

Zero

Cpn,

11/09/23

..

17,041

16,386

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5278650.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

$

3,832

$

3,672

5278688.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

2,349

2,243

5278739.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

5,395

5,169

5278789.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

16,134

15,460

5279031.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

3,138

2,821

5279064.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

2,332

2,243

5279081.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

5,628

5,393

5279155.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

10,075

9,511

5279410.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

2,072

1,998

5279457.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

10,439

9,769

5279608.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

638

617

5279614.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

2,070

1,978

5279633.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

881

827

5279653.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

2,062

1,977

5279676.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

1,813

1,737

5279690.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

7,186

6,924

5279764.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

2,108

2,025

5279795.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

24,009

23,090

5280101.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

16,318

14,806

5280266.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

888

838

5280273.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

4,805

4,604

5280316.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

17,919

16,402

5280563.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

1,834

1,727

5280585.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

1,071

1,019

5280615.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

1,929

1,693

5280652.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

18,598

17,649

5280921.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

484

450

5280927.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

3,292

3,157

5280945.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

1,466

1,387

5280961.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

1,095

1,039

5280972.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

1,315

1,263

5281004.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

1,949

1,868

5281046.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

2,265

2,038

5281081.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

3,633

3,391

5281124.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

65,976

60,019

5281757.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

1,073

997

5281773.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

1,741

1,532

5281807.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

7,026

6,733

5281875.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

6,918

6,501

5281939.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

480

465

5281948.SQ.FTS.B,

Zero

Cpn,

11/10/23

..

29,541

27,884

5282039.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

1,823

1,552

5282105.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

50,837

48,706

5282754.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

1,446

1,325

5282783.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

1,671

1,434

5282803.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

7,823

7,399

5282857.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

1,141

1,062

5282925.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

15,105

14,135

5283165.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

11,615

11,135

5283281.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

1,007

962

5283292.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

3,084

2,963

5283354.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

2,089

2,001

5283385.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

1,125

1,067

5283412.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

10,945

10,494

5283559.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

3,787

3,628

5283599.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

18,210

17,479

5283850.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

14,271

13,672

5284038.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

696

667

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

201

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5284067.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

$

674

$

652

5284084.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

6,314

5,980

5284158.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

1,663

1,493

5284187.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

14,506

13,446

5284296.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

9,847

9,120

5284409.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

1,305

1,264

5284506.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

3,794

3,645

5284527.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

15,233

14,598

5284656.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

3,040

2,901

5284715.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

348

338

5284760.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

2,065

2,000

5284780.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

4,436

4,234

5284814.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

5,391

5,165

5284859.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

4,404

4,217

5284872.SQ.FTS.B,

Zero

Cpn,

11/11/23

..

13,986

13,374

5286799.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

2,087

1,991

5286825.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

2,590

2,481

5286855.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

3,049

2,907

5286866.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

15,581

14,014

5287006.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

1,073

1,040

5287043.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

4,097

3,762

5287081.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

1,130

1,078

5287111.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

2,620

2,529

5287207.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

14,205

13,531

5287421.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

2,074

1,904

5287501.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

827

797

5287535.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

3,495

3,339

5287615.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

3,309

3,033

5287728.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

3,637

3,172

5287776.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

245

238

5287789.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

362

347

5287803.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

4,135

3,645

5287817.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

15,489

14,839

5288100.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

1,691

1,621

5288132.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

2,404

2,290

5288154.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

1,897

1,821

5288202.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

4,925

4,616

5288265.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

373

333

5288273.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

8,619

8,147

5288455.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

7,881

7,474

5288617.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

956

877

5288629.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

7,409

6,516

5288677.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

3,572

3,411

5288753.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

2,627

2,496

5288787.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

50,077

48,065

5289360.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

19,323

18,291

5289625.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

3,292

3,116

5289669.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

1,924

1,523

5289696.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

15,059

14,148

5289829.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

4,059

3,882

5289915.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

10,172

9,568

5290012.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

3,276

2,997

5290041.SQ.FTS.B,

Zero

Cpn,

11/12/23

..

52,920

48,014

5290437.SQ.FTS.B,

Zero

Cpn,

11/13/23

..

4,178

4,001

5290532.SQ.FTS.B,

Zero

Cpn,

11/13/23

..

4,303

3,872

5290587.SQ.FTS.B,

Zero

Cpn,

11/13/23

..

2,647

2,521

5290606.SQ.FTS.B,

Zero

Cpn,

11/13/23

..

1,372

1,197

5290610.SQ.FTS.B,

Zero

Cpn,

11/13/23

..

3,139

2,963

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5290697.SQ.FTS.B,

Zero

Cpn,

11/13/23

..

$

5,179

$

4,903

5290804.SQ.FTS.B,

Zero

Cpn,

11/13/23

..

3,000

2,875

5290890.SQ.FTS.B,

Zero

Cpn,

11/13/23

..

7,943

7,587

5291121.SQ.FTS.B,

Zero

Cpn,

11/13/23

..

2,938

2,848

5291276.SQ.FTS.B,

Zero

Cpn,

11/13/23

..

1,246

1,160

5291310.SQ.FTS.B,

Zero

Cpn,

11/13/23

..

11,896

11,341

5291509.SQ.FTS.B,

Zero

Cpn,

11/13/23

..

2,482

2,376

5291554.SQ.FTS.B,

Zero

Cpn,

11/13/23

..

2,120

2,000

5291581.SQ.FTS.B,

Zero

Cpn,

11/13/23

..

13,220

12,421

5291714.SQ.FTS.B,

Zero

Cpn,

11/13/23

..

9,911

9,255

5291786.SQ.FTS.B,

Zero

Cpn,

11/13/23

..

2,376

2,138

5291797.SQ.FTS.B,

Zero

Cpn,

11/13/23

..

4,885

4,609

5291858.SQ.FTS.B,

Zero

Cpn,

11/13/23

..

3,802

3,636

5291912.SQ.FTS.B,

Zero

Cpn,

11/13/23

..

5,574

5,278

5291955.SQ.FTS.B,

Zero

Cpn,

11/13/23

..

22,904

21,941

5292299.SQ.FTS.B,

Zero

Cpn,

11/13/23

..

1,752

1,590

5292311.SQ.FTS.B,

Zero

Cpn,

11/13/23

..

1,446

1,386

5292361.SQ.FTS.B,

Zero

Cpn,

11/13/23

..

2,341

1,956

5292413.SQ.FTS.B,

Zero

Cpn,

11/13/23

..

7,804

7,364

5292542.SQ.FTS.B,

Zero

Cpn,

11/13/23

..

751

655

5292553.SQ.FTS.B,

Zero

Cpn,

11/13/23

..

2,506

2,390

5292636.SQ.FTS.B,

Zero

Cpn,

11/13/23

..

5,516

5,008

5292766.SQ.FTS.B,

Zero

Cpn,

11/13/23

..

1,086

1,011

5292785.SQ.FTS.B,

Zero

Cpn,

11/13/23

..

2,091

1,938

5292822.SQ.FTS.B,

Zero

Cpn,

11/13/23

..

5,461

5,234

5292892.SQ.FTS.B,

Zero

Cpn,

11/13/23

..

66,901

63,971

5293586.SQ.FTS.B,

Zero

Cpn,

11/14/23

..

9,543

9,138

5293647.SQ.FTS.B,

Zero

Cpn,

11/14/23

..

7,074

6,782

5293691.SQ.FTS.B,

Zero

Cpn,

11/14/23

..

1,861

1,789

5293706.SQ.FTS.B,

Zero

Cpn,

11/14/23

..

649

625

5293721.SQ.FTS.B,

Zero

Cpn,

11/14/23

..

3,984

3,844

5293747.SQ.FTS.B,

Zero

Cpn,

11/14/23

..

3,843

3,686

5293775.SQ.FTS.B,

Zero

Cpn,

11/14/23

..

7,037

6,738

5293862.SQ.FTS.B,

Zero

Cpn,

11/14/23

..

6,356

5,787

5293925.SQ.FTS.B,

Zero

Cpn,

11/14/23

..

4,294

4,112

5293968.SQ.FTS.B,

Zero

Cpn,

11/14/23

..

6,486

6,193

5294007.SQ.FTS.B,

Zero

Cpn,

11/14/23

..

795

765

5294014.SQ.FTS.B,

Zero

Cpn,

11/14/23

..

8,285

7,773

5294090.SQ.FTS.B,

Zero

Cpn,

11/14/23

..

5,439

5,155

5294158.SQ.FTS.B,

Zero

Cpn,

11/14/23

..

2,011

1,898

5294178.SQ.FTS.B,

Zero

Cpn,

11/14/23

..

5,038

3,880

5294209.SQ.FTS.B,

Zero

Cpn,

11/14/23

..

3,608

3,436

5294235.SQ.FTS.B,

Zero

Cpn,

11/14/23

..

910

879

5294243.SQ.FTS.B,

Zero

Cpn,

11/14/23

..

5,603

5,304

5294272.SQ.FTS.B,

Zero

Cpn,

11/14/23

..

2,908

2,747

5294301.SQ.FTS.B,

Zero

Cpn,

11/15/23

..

12,802

12,262

5294447.SQ.FTS.B,

Zero

Cpn,

11/15/23

..

1,390

1,263

5294464.SQ.FTS.B,

Zero

Cpn,

11/15/23

..

417

394

5294471.SQ.FTS.B,

Zero

Cpn,

11/15/23

..

621

593

5294481.SQ.FTS.B,

Zero

Cpn,

11/15/23

..

4,049

3,628

5294531.SQ.FTS.B,

Zero

Cpn,

11/15/23

..

5,121

4,738

5294585.SQ.FTS.B,

Zero

Cpn,

11/15/23

..

1,654

1,583

5294596.SQ.FTS.B,

Zero

Cpn,

11/15/23

..

593

560

5294600.SQ.FTS.B,

Zero

Cpn,

11/15/23

..

29,904

27,236

5294830.SQ.FTS.B,

Zero

Cpn,

11/15/23

..

3,376

3,131

5294853.SQ.FTS.B,

Zero

Cpn,

11/15/23

..

1,024

967

5294864.SQ.FTS.B,

Zero

Cpn,

11/15/23

..

552

533

5294873.SQ.FTS.B,

Zero

Cpn,

11/15/23

..

3,252

3,096

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

202

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5294902.SQ.FTS.B,

Zero

Cpn,

11/15/23

..

$

3,019

$

2,878

5294931.SQ.FTS.B,

Zero

Cpn,

11/15/23

..

4,463

4,053

5294962.SQ.FTS.B,

Zero

Cpn,

11/15/23

..

5,260

5,037

5295005.SQ.FTS.B,

Zero

Cpn,

11/15/23

..

3,084

2,823

5295032.SQ.FTS.B,

Zero

Cpn,

11/15/23

..

3,063

2,830

5295187.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

19,031

18,121

5295477.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

3,132

2,985

5295546.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

4,193

3,964

5295643.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

2,989

2,840

5295738.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

2,118

1,942

5295791.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

1,828

1,642

5295829.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

6,297

5,920

5295923.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

4,780

4,489

5296003.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

8,716

8,248

5296137.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

603

526

5296152.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

3,970

3,578

5296196.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

12,583

12,050

5296361.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

1,669

1,603

5296373.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

1,076

1,042

5296399.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

13,564

12,431

5296568.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

10,712

10,225

5296688.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

2,960

2,656

5296716.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

15,351

14,777

5296872.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

857

826

5296883.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

964

922

5296888.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

1,682

1,611

5296906.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

5,392

5,163

5296927.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

5,246

5,031

5296959.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

7,861

7,345

5297017.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

2,762

2,489

5297033.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

4,162

3,823

5297054.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

1,890

1,735

5297084.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

3,324

3,138

5297124.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

6,979

6,649

5297144.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

4,003

3,754

5297160.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

3,406

3,216

5297174.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

10,128

9,701

5297243.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

2,889

2,729

5297252.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

40,681

38,451

5297510.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

6,224

5,840

5297547.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

16,287

13,112

5297620.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

1,420

1,370

5297632.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

1,281

1,231

5297636.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

3,824

3,645

5297650.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

5,290

5,066

5297679.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

10,065

9,533

5297728.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

5,218

4,882

5297749.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

17,179

13,781

5297889.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

7,647

7,358

5297998.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

643

444

5298015.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

40,742

38,139

5298365.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

10,146

8,680

5298476.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

8,918

8,387

5298558.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

2,046

1,926

5298585.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

15,737

15,027

5298713.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

7,331

7,035

5298839.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

885

811

5298861.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

6,033

5,785

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5298957.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

$

22,444

$

21,488

5299211.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

6,073

5,814

5299308.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

13,794

10,450

5299389.SQ.FTS.B,

Zero

Cpn,

11/16/23

..

54,744

52,427

5299487.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

1,898

1,817

5299524.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

3,239

2,730

5299585.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

2,343

2,167

5299603.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

5,180

4,959

5299661.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

3,763

3,568

5299712.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

11,547

11,112

5300020.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

971

930

5300029.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

4,887

4,082

5300101.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

950

824

5300113.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

7,902

7,469

5300237.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

1,516

1,460

5300322.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

5,892

5,665

5300390.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

15,928

15,248

5300900.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

7,596

6,832

5301373.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

3,288

3,149

5301983.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

4,837

4,638

5302412.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

794

763

5302425.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

1,671

1,597

5302479.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

1,378

1,103

5302517.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

5,667

5,239

5302631.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

3,434

3,290

5302751.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

4,353

4,108

5302844.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

1,116

1,026

5302859.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

4,296

4,104

5302930.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

3,400

3,255

5303004.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

804

749

5303058.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

3,978

3,687

5303108.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

4,546

4,023

5303192.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

2,530

1,841

5303268.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

2,877

2,747

5303325.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

7,154

6,521

5303473.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

2,745

2,628

5303552.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

3,527

3,358

5303577.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

4,738

4,471

5303655.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

5,243

5,032

5303828.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

9,271

7,753

5303948.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

2,442

2,319

5303990.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

3,142

2,964

5304046.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

14,845

14,158

5304258.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

1,287

1,232

5304261.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

363

346

5304263.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

30,163

28,875

5304604.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

3,162

2,981

5304630.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

56,471

54,319

5305374.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

7,831

7,488

5305452.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

23,908

22,174

5305697.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

1,024

982

5305709.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

1,981

1,377

5305726.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

6,306

5,900

5305763.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

3,719

3,146

5305789.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

2,415

2,291

5305827.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

16,043

15,420

5306025.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

2,207

2,065

5306054.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

1,886

1,819

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

203

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5306072.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

$

3,893

$

3,699

5306127.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

350

338

5306150.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

18,048

16,280

5306297.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

9,843

9,436

5306484.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

2,745

2,586

5306514.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

6,061

5,803

5306569.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

7,147

6,856

5306701.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

4,846

4,682

5306797.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

4,676

4,476

5306841.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

2,098

2,002

5306862.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

25,425

24,346

5307170.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

2,609

2,390

5307202.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

7,290

6,939

5307247.SQ.FTS.B,

Zero

Cpn,

11/17/23

..

1,756

1,677

5307315.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

14,087

13,206

5307584.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

10,592

10,159

5308004.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

1,217

849

5308011.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

2,197

2,121

5308191.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

2,224

2,130

5308269.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

859

689

5308279.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

4,015

3,846

5308374.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

1,972

1,798

5308440.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

2,694

2,058

5308522.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

12,618

12,012

5309090.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

342

326

5309123.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

2,575

2,467

5309312.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

1,482

1,398

5309472.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

3,124

2,277

5309636.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

1,123

1,062

5309766.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

2,043

1,878

5309917.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

1,369

1,298

5310071.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

936

899

5310106.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

10,623

8,644

5310510.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

5,775

5,556

5310662.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

6,090

5,702

5310768.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

1,102

1,044

5310786.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

1,952

1,844

5310829.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

734

691

5310838.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

1,267

1,176

5310849.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

1,872

1,772

5310909.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

22,996

18,708

5311209.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

1,858

1,734

5311231.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

804

737

5311236.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

7,215

6,832

5311355.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

3,376

3,231

5311462.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

9,900

9,480

5311602.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

2,100

1,991

5311631.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

28,525

26,466

5312059.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

2,823

2,712

5312112.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

512

430

5312115.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

1,610

1,445

5312135.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

23,747

22,664

5312406.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

1,339

1,263

5312413.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

41,555

38,438

5312766.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

1,966

1,795

5312804.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

21,830

20,901

5312989.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

1,529

1,087

5312995.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

25,566

24,336

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5313199.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

$

4,755

$

4,291

5313236.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

1,312

1,196

5313265.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

1,667

1,596

5313296.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

1,043

850

5313304.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

3,046

2,877

5313348.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

2,668

2,476

5313375.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

3,456

3,119

5313434.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

6,012

5,505

5313508.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

759

704

5313518.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

353

339

5313526.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

2,432

2,091

5313565.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

20,867

19,917

5313725.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

1,323

1,280

5313731.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

612

410

5313737.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

274

265

5313741.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

5,213

5,039

5313775.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

70,962

67,709

5314143.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

4,015

3,844

5314146.SQ.FTS.B,

Zero

Cpn,

11/18/23

..

38,311

36,807

5315967.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

15,935

15,005

5316057.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

17,026

16,308

5316141.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

18,123

16,610

5316278.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

6,027

5,768

5316324.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

2,168

1,482

5316369.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

9,971

9,542

5316459.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

2,403

2,249

5316499.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

14,926

14,249

5316722.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

9,159

8,717

5316802.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

2,637

2,509

5316879.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

2,253

2,165

5316929.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

1,831

1,706

5316943.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

1,213

1,146

5316969.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

5,137

4,943

5317074.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

3,223

2,994

5317100.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

11,925

11,411

5317277.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

3,851

3,687

5317323.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

827

790

5317333.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

2,303

2,209

5317355.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

73,452

70,136

5317974.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

12,809

12,258

5318129.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

2,364

2,263

5318154.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

4,694

3,069

5318272.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

1,427

1,248

5318294.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

7,749

7,321

5318361.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

6,653

6,352

5318642.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

1,561

1,454

5318651.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

12,195

11,179

5318742.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

2,424

2,275

5318752.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

2,065

1,924

5318758.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

1,252

1,097

5318775.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

481

432

5318776.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

39,088

36,699

5319161.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

634

614

5319187.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

2,060

1,920

5319224.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

963

882

5319242.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

2,249

2,132

5319254.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

937

786

5319257.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

1,296

1,109

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

204

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5319266.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

$

5,388

$

5,085

5319318.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

24,038

22,953

5319495.SQ.FTS.B,

Zero

Cpn,

11/19/23

..

6,199

5,952

5319624.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

4,993

4,706

5319778.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

1,019

984

5319824.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

11,015

9,535

5319958.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

2,911

2,515

5319989.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

4,123

3,819

5320022.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

1,649

1,538

5320033.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

3,804

3,560

5320075.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

14,164

13,182

5320304.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

245

238

5320378.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

619

593

5320431.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

2,061

1,856

5320450.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

1,605

1,534

5320487.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

6,463

6,183

5320686.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

2,532

2,433

5321000.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

3,206

3,076

5321079.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

1,233

1,188

5321107.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

5,341

5,082

5321193.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

2,022

1,918

5321246.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

12,860

12,249

5321485.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

6,878

6,487

5321560.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

7,568

7,214

5321629.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

785

731

5321637.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

4,033

3,687

5321673.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

9,891

9,465

5321781.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

23,255

22,210

5322036.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

3,504

3,322

5322094.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

1,853

1,755

5322122.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

3,302

3,160

5322178.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

8,493

8,127

5322265.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

8,097

7,747

5322289.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

4,595

4,370

5322334.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

985

851

5322335.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

1,936

1,739

5322339.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

20,566

19,414

5322546.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

2,642

2,316

5322573.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

2,638

2,448

5322620.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

2,076

2,000

5322678.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

6,006

5,776

5322817.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

10,729

9,980

5322975.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

34,483

32,804

5323253.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

5,340

4,913

5323343.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

30,919

28,825

5323689.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

4,689

4,446

5323748.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

6,688

6,231

5323787.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

666

598

5323801.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

4,732

4,517

5323876.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

4,113

3,956

5323949.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

16,536

15,768

5324133.SQ.FTS.B,

Zero

Cpn,

11/20/23

..

2,600

2,420

5324163.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

7,340

6,929

5324197.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

1,465

1,337

5324207.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

33,391

30,881

5324379.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

4,798

4,598

5324412.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

5,936

5,625

5324438.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

1,663

1,551

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5324445.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

$

4,964

$

4,324

5324458.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

722

676

5324467.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

7,830

7,350

5324505.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

1,465

1,246

5324511.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

1,753

1,634

5324519.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

3,063

2,931

5324530.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

1,600

1,510

5324534.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

1,689

1,498

5324541.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

2,734

2,625

5324564.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

6,778

6,486

5324596.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

1,022

866

5324606.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

5,931

5,563

5324642.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

659

632

5324651.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

9,379

8,973

5324692.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

4,189

4,009

5324711.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

5,804

5,244

5324740.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

10,170

9,641

5324783.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

1,550

1,437

5324791.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

3,541

3,142

5324803.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

12,726

12,116

5324869.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

552

514

5324875.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

8,016

7,414

5324908.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

727

655

5324914.SQ.FTS.B,

Zero

Cpn,

11/21/23

..

7,685

7,162

5324960.SQ.FTS.B,

Zero

Cpn,

11/22/23

..

613

518

5324968.SQ.FTS.B,

Zero

Cpn,

11/22/23

..

2,532

2,352

5324986.SQ.FTS.B,

Zero

Cpn,

11/22/23

..

3,655

3,509

5325013.SQ.FTS.B,

Zero

Cpn,

11/22/23

..

2,637

2,515

5325027.SQ.FTS.B,

Zero

Cpn,

11/22/23

..

1,267

1,197

5325032.SQ.FTS.B,

Zero

Cpn,

11/22/23

..

2,386

2,289

5325047.SQ.FTS.B,

Zero

Cpn,

11/22/23

..

4,867

4,701

5325088.SQ.FTS.B,

Zero

Cpn,

11/22/23

..

3,651

3,505

5325105.SQ.FTS.B,

Zero

Cpn,

11/22/23

..

2,839

2,710

5325121.SQ.FTS.B,

Zero

Cpn,

11/22/23

..

3,632

3,225

5325148.SQ.FTS.B,

Zero

Cpn,

11/22/23

..

1,553

1,190

5325157.SQ.FTS.B,

Zero

Cpn,

11/22/23

..

833

799

5325163.SQ.FTS.B,

Zero

Cpn,

11/22/23

..

14,129

13,520

5325238.SQ.FTS.B,

Zero

Cpn,

11/22/23

..

10,140

9,624

5325298.SQ.FTS.B,

Zero

Cpn,

11/22/23

..

29,434

26,614

5325419.SQ.FTS.B,

Zero

Cpn,

11/22/23

..

2,399

2,302

5325434.SQ.FTS.B,

Zero

Cpn,

11/22/23

..

20,472

17,844

5325514.SQ.FTS.B,

Zero

Cpn,

11/22/23

..

1,792

1,695

5325523.SQ.FTS.B,

Zero

Cpn,

11/22/23

..

2,682

2,557

5325536.SQ.FTS.B,

Zero

Cpn,

11/22/23

..

8,289

7,830

5325595.SQ.FTS.B,

Zero

Cpn,

11/22/23

..

7,285

6,876

5325621.SQ.FTS.B,

Zero

Cpn,

11/22/23

..

7,181

6,487

5325655.SQ.FTS.B,

Zero

Cpn,

11/22/23

..

7,643

6,961

5325685.SQ.FTS.B,

Zero

Cpn,

11/22/23

..

1,840

1,432

5325777.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

1,150

1,108

5325788.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

6,330

5,329

5325909.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

3,902

3,732

5326017.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

1,115

1,045

5326050.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

1,966

1,880

5326167.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

23,266

22,198

5326520.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

2,146

1,520

5326562.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

643

616

5326604.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

2,144

1,755

5326665.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

3,139

2,967

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

205

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5326852.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

$

8,814

$

8,432

5327212.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

1,326

1,254

5327235.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

10,223

8,604

5327349.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

5,920

5,460

5327416.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

3,923

3,716

5327455.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

26,079

24,120

5328384.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

28,554

27,234

5328782.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

6,397

5,898

5328844.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

3,343

3,186

5328874.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

5,247

5,021

5328930.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

2,642

2,463

5328944.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

1,074

1,040

5328971.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

5,618

5,301

5328988.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

1,886

1,731

5329014.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

3,828

3,663

5329030.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

222

216

5329042.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

3,046

2,890

5329065.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

716

677

5329080.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

4,251

3,871

5329092.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

2,856

2,577

5329114.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

5,422

5,188

5329132.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

7,828

7,452

5329228.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

31,930

30,549

5329531.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

7,213

6,812

5329562.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

1,994

1,920

5329576.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

6,893

6,500

5329635.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

1,396

1,184

5329654.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

970

934

5329668.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

3,850

3,580

5329695.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

10,481

9,767

5329786.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

21,070

19,200

5329961.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

597

573

5329971.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

56,839

53,213

5330279.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

3,369

3,206

5330323.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

1,300

1,154

5330352.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

4,757

4,004

5330378.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

6,369

6,103

5330498.SQ.FTS.B,

Zero

Cpn,

11/23/23

..

3,121

2,987

5330605.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

1,734

1,661

5330620.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

1,123

1,074

5330627.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

15,691

14,981

5330739.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

6,684

6,357

5330795.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

1,127

1,034

5330800.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

27,671

25,916

5330956.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

3,289

3,071

5330980.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

3,456

3,259

5331025.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

13,343

12,594

5331141.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

2,045

1,949

5331171.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

1,242

1,139

5331180.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

4,350

4,031

5331229.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

4,383

4,150

5331280.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

1,185

1,101

5331289.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

2,316

2,127

5331332.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

4,698

4,368

5331392.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

4,188

3,966

5331475.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

632

585

5331500.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

11,643

10,999

5331908.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

5,049

3,966

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5331996.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

$

1,128

$

1,086

5332044.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

2,768

2,649

5332074.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

1,541

1,471

5332155.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

2,401

2,214

5332188.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

5,450

5,204

5332263.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

10,946

9,214

5332388.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

548

519

5332394.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

3,686

3,464

5332432.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

7,094

6,719

5332523.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

18,284

17,488

5333442.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

17,685

16,993

5333629.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

5,224

4,889

5333696.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

3,491

3,294

5333739.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

70,044

66,167

5334637.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

22,479

18,193

5334724.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

28,015

25,734

5334923.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

2,658

2,496

5334939.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

3,696

3,525

5334960.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

5,324

5,084

5335022.SQ.FTS.B,

Zero

Cpn,

11/24/23

..

46,155

43,088

5335281.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

3,459

3,273

5335305.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

43

42

5335306.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

4,543

3,921

5335325.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

8,469

8,000

5335405.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

32,274

30,500

5335784.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

1,180

1,108

5335821.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

830

801

5335831.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

25,655

24,195

5336209.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

7,559

7,256

5336356.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

999

869

5336439.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

3,723

3,475

5336666.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

822

787

5336705.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

358

347

5336744.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

3,449

3,259

5336855.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

2,906

2,623

5336890.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

9,154

8,755

5337038.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

3,710

3,553

5337084.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

1,557

1,489

5337115.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

2,561

2,161

5337162.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

7,444

6,848

5337223.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

2,632

2,527

5337246.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

5,416

5,181

5337324.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

5,031

4,744

5337380.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

997

860

5337383.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

1,779

1,685

5337397.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

3,836

3,622

5337438.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

1,368

1,295

5337455.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

4,496

4,308

5337495.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

9,340

8,836

5337877.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

780

734

5337891.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

1,587

1,490

5337894.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

1,931

1,827

5337901.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

5,222

4,431

5337942.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

453

429

5337946.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

1,094

1,034

5337968.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

18,807

16,747

5338127.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

857

592

5338130.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

1,974

1,816

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

206

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5338139.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

$

5,057

$

4,786

5338166.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

2,651

2,417

5338180.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

36,581

34,806

5338377.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

35,573

33,863

5338725.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

3,549

3,320

5338803.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

5,869

5,613

5338884.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

2,543

2,406

5338940.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

10,752

9,574

5339128.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

1,907

1,824

5339153.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

1,640

1,461

5339164.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

4,634

4,390

5339203.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

808

709

5339216.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

1,959

1,867

5339230.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

15,329

14,659

5339368.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

9,776

9,389

5339485.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

6,542

6,234

5339549.SQ.FTS.B,

Zero

Cpn,

11/25/23

..

31,804

30,421

5355745.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

14,316

13,489

5357060.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

14,298

10,201

5357276.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

6,126

5,857

5357422.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

635

561

5357533.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

3,438

3,242

5357618.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

903

873

5357694.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

2,111

1,977

5357782.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

4,833

4,639

5358027.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

16,349

15,310

5359919.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

9,347

8,446

5360417.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

6,585

6,310

5360679.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

33,024

30,537

5361684.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

15,625

14,453

5362084.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

16,528

15,290

5362459.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

3,705

3,542

5362565.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

19,215

18,383

5362889.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

8,113

6,670

5363012.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

9,744

9,220

5363192.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

25,843

21,869

5363874.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

7,295

6,973

5363962.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

71,965

65,199

5364798.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

1,390

1,314

5364847.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

710

639

5364855.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

1,048

1,003

5364883.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

12,001

11,470

5364947.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

5,701

5,449

5365026.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

2,317

2,226

5365092.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

1,650

1,540

5365125.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

29,415

28,116

5365573.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

6,097

4,804

5365722.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

18,567

17,751

5366232.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

1,212

1,097

5366278.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

519

457

5366300.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

1,796

1,653

5366413.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

2,135

2,041

5366520.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

17,586

15,887

5366721.SQ.FTS.B,

Zero

Cpn,

11/26/23

..

34,038

32,533

5367422.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

1,748

1,524

5367492.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

446

389

5367496.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

21,635

20,689

5368102.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

3,145

3,011

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5368138.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

$

372

$

352

5368153.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

1,070

743

5368205.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

5,259

4,894

5368407.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

14,109

13,464

5369187.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

2,422

2,267

5369469.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

1,317

1,242

5369583.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

5,353

5,091

5370369.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

642

618

5370542.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

2,843

2,736

5371732.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

2,589

2,439

5372376.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

17,669

16,857

5373823.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

7,909

7,151

5374120.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

6,801

6,508

5374331.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

19,283

18,194

5375188.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

3,151

3,011

5375354.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

2,638

2,518

5375467.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

7,107

6,784

5375796.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

1,167

994

5375820.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

4,732

4,396

5376024.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

8,053

7,120

5376192.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

12,090

11,560

5376466.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

19,345

18,314

5376723.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

5,182

4,814

5376757.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

2,950

2,736

5376799.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

4,854

4,652

5376922.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

8,500

8,021

5377238.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

7,841

6,861

5377669.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

928

871

5377684.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

3,091

2,851

5377829.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

1,875

1,768

5378006.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

5,152

4,873

5378271.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

8,277

7,901

5378398.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

37,609

30,587

5379188.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

10,144

9,664

5379446.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

4,890

4,621

5379482.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

4,848

4,611

5379580.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

1,211

1,157

5379615.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

1,545

1,267

5379648.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

14,239

13,503

5379970.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

811

779

5379981.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

45,279

42,490

5380762.SQ.FTS.B,

Zero

Cpn,

11/27/23

..

20,774

19,922

5380960.SQ.FTS.B,

Zero

Cpn,

11/28/23

..

1,161

1,096

5380980.SQ.FTS.B,

Zero

Cpn,

11/28/23

..

4,296

4,105

5381030.SQ.FTS.B,

Zero

Cpn,

11/28/23

..

19,273

18,345

5381300.SQ.FTS.B,

Zero

Cpn,

11/28/23

..

4,787

4,549

5381355.SQ.FTS.B,

Zero

Cpn,

11/28/23

..

7,501

7,104

5381472.SQ.FTS.B,

Zero

Cpn,

11/28/23

..

14,830

13,883

5381713.SQ.FTS.B,

Zero

Cpn,

11/29/23

..

5,555

4,868

5381802.SQ.FTS.B,

Zero

Cpn,

11/29/23

..

7,600

6,898

5381932.SQ.FTS.B,

Zero

Cpn,

11/29/23

..

1,389

1,230

5381951.SQ.FTS.B,

Zero

Cpn,

11/29/23

..

3,265

3,121

5381980.SQ.FTS.B,

Zero

Cpn,

11/29/23

..

1,093

917

5381997.SQ.FTS.B,

Zero

Cpn,

11/29/23

..

687

655

5382013.SQ.FTS.B,

Zero

Cpn,

11/29/23

..

3,134

2,954

5382054.SQ.FTS.B,

Zero

Cpn,

11/29/23

..

20,781

19,896

5382344.SQ.FTS.B,

Zero

Cpn,

11/29/23

..

1,695

1,620

5382369.SQ.FTS.B,

Zero

Cpn,

11/29/23

..

3,034

2,903

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

207

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5382401.SQ.FTS.B,

Zero

Cpn,

11/29/23

..

$

6,653

$

6,359

5382489.SQ.FTS.B,

Zero

Cpn,

11/29/23

..

1,395

1,311

5382510.SQ.FTS.B,

Zero

Cpn,

11/29/23

..

11,756

10,023

5382680.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

14,609

14,034

5383041.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

4,297

4,109

5383107.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

4,307

4,067

5383171.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

6,372

6,084

5383248.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

5,525

5,143

5383330.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

948

907

5383336.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

820

787

5383353.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

3,440

3,202

5383396.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

660

576

5383412.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

5,811

4,181

5383472.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

7,968

7,665

5383609.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

1,853

1,747

5383743.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

2,947

2,817

5384060.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

3,549

3,394

5384909.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

6,153

5,886

5385954.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

4,082

3,902

5388093.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

470

456

5389498.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

963

904

5389953.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

5,362

5,090

5390733.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

2,725

2,578

5391008.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

959

843

5391069.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

9,295

8,772

5391756.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

4,781

4,549

5392178.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

5,078

4,726

5392808.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

4,807

4,594

5393084.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

479

456

5393125.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

587

551

5393252.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

12,867

12,226

5394233.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

1,277

1,222

5394318.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

674

645

5394385.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

30,140

28,818

5396015.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

15,348

14,670

5396911.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

1,103

1,061

5396995.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

9,042

8,596

5397498.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

4,519

4,030

5397696.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

10,572

10,073

5398135.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

2,285

2,156

5398252.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

3,104

2,934

5398394.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

1,182

973

5398459.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

3,484

3,323

5398616.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

6,718

6,090

5398972.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

21,101

19,865

5399792.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

3,856

3,595

5400027.SQ.FTS.B,

Zero

Cpn,

11/30/23

..

1,556

1,487

5400192.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

18,580

17,521

5400774.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

1,068

1,028

5400945.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

2,791

2,665

5401240.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

13,097

12,514

5402367.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

5,404

4,898

5402897.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

2,757

2,605

5403492.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

5,102

4,875

5405167.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

3,506

3,352

5406807.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

649

587

5407193.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

4,282

4,097

5407377.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

775

744

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5407531.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

$

3,745

$

3,490

5407832.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

12,730

12,165

5408605.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

5,875

5,615

5408785.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

7,943

7,327

5409269.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

7,726

7,233

5409740.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

5,287

4,947

5409884.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

12,032

10,997

5410313.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

6,505

5,988

5410444.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

12,786

12,228

5410930.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

2,864

2,751

5411087.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

974

943

5411118.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

6,766

6,465

5411227.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

2,344

2,271

5411336.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

2,275

2,157

5411387.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

13,967

13,027

5412026.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

17,281

16,649

5412571.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

3,710

3,453

5412593.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

762

719

5412598.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

2,390

2,273

5412617.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

1,979

1,913

5412660.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

2,101

1,953

5412683.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

6,381

5,971

5412773.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

5,886

5,595

5412960.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

11,815

11,113

5413296.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

8,820

8,430

5413484.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

837

791

5413567.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

2,528

2,421

5413606.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

4,366

4,046

5413673.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

31,274

25,702

5413992.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

44,582

42,723

5414827.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

686

654

5414868.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

4,562

4,360

5415021.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

8,982

8,599

5415233.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

9,052

8,332

5415404.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

3,365

3,098

5415474.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

10,808

10,201

5415634.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

795

757

5415645.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

3,000

2,867

5415739.SQ.FTS.B,

Zero

Cpn,

12/01/23

..

9,639

9,165

5439892.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

7,762

7,449

5440120.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

2,666

2,546

5440187.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

7,301

7,023

5440393.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

522

355

5440409.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

1,437

1,360

5440453.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

11,700

10,943

5440675.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

516

426

5440686.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

309

298

5440825.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

7,574

7,203

5441207.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

1,452

1,379

5441269.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

2,776

2,572

5441850.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

5,824

5,504

5442439.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

1,336

1,289

5442737.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

437

421

5442876.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

12,085

10,990

5445957.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

14,938

14,082

5446633.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

5,542

5,293

5446898.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

956

901

5446963.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

8,347

8,003

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

208

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5447485.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

$

2,278

$

2,176

5447541.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

1,391

1,309

5447601.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

16,492

15,342

5448177.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

4,703

4,533

5448354.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

15,140

13,788

5448747.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

2,714

2,592

5448827.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

18,478

17,447

5449524.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

2,079

1,958

5449629.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

2,421

2,282

5449700.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

1,814

1,660

5449799.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

5,326

5,094

5449972.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

3,260

3,118

5450125.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

11,213

10,776

5450754.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

21,277

20,151

5451317.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

18,058

17,108

5451822.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

23,097

21,890

5452488.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

3,662

3,265

5452609.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

5,138

4,934

5452806.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

51,654

49,098

5454245.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

15,007

13,339

5454543.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

10,775

10,146

5454715.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

544

518

5454738.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

7,402

6,800

5454870.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

17,378

16,504

5455334.SQ.FTS.B,

Zero

Cpn,

12/02/23

..

2,064

1,972

5455440.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

48,814

45,256

5456339.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

1,809

1,713

5456385.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

2,971

2,813

5456388.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

14,693

14,164

5457095.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

1,925

1,839

5457185.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

8,436

8,037

5457673.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

2,860

2,602

5457819.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

5,665

5,410

5458151.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

3,464

3,286

5458351.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

29,032

26,429

5462822.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

3,962

3,794

5463126.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

75,426

71,917

5466499.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

702

673

5466529.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

8,609

8,225

5466724.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

1,062

1,020

5466768.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

5,287

5,038

5466918.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

15,160

14,459

5467439.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

990

898

5467480.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

8,903

8,361

5468033.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

3,398

2,802

5468143.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

6,661

6,339

5468467.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

2,184

2,059

5468652.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

11,977

11,371

5469093.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

8,159

7,588

5469350.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

2,753

2,582

5469507.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

14,812

13,614

5470412.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

4,931

4,697

5470483.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

9,553

8,908

5470925.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

5,218

4,983

5470995.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

6,341

5,997

5471203.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

684

488

5471273.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

1,947

1,809

5471332.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

13,920

13,104

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5471467.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

$

2,427

$

2,302

5471623.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

4,333

3,852

5471659.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

1,176

1,124

5471792.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

5,148

4,943

5471968.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

1,312

1,254

5472000.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

6,158

5,883

5472212.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

5,470

5,156

5472367.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

10,778

8,194

5472591.SQ.FTS.B,

Zero

Cpn,

12/03/23

..

13,563

12,628

5472698.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

6,024

5,753

5472730.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

7,301

6,609

5472742.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

4,175

3,988

5472763.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

3,784

3,562

5472774.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

6,867

6,559

5472796.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

18,357

16,859

5472866.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

1,683

1,622

5472880.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

3,894

3,641

5472894.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

6,298

5,229

5472909.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

9,670

9,224

5472959.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

18,055

16,856

5473069.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

3,115

2,976

5473090.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

6,356

5,992

5473127.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

735

685

5473136.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

2,997

2,864

5473153.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

1,307

1,086

5473159.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

4,564

4,359

5473197.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

1,216

1,161

5473206.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

2,054

1,975

5473236.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

7,136

6,672

5473289.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

3,830

3,655

5473309.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

4,686

4,129

5473345.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

894

807

5473357.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

15,394

14,701

5473456.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

977

870

5473462.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

8,639

8,323

5473585.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

698

613

5473589.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

3,420

2,421

5473616.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

4,638

3,404

5473660.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

1,317

1,227

5473669.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

847

790

5473674.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

622

563

5473680.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

2,112

1,996

5473691.SQ.FTS.B,

Zero

Cpn,

12/04/23

..

9,009

8,590

5473747.SQ.FTS.B,

Zero

Cpn,

12/05/23

..

4,095

3,575

5473788.SQ.FTS.B,

Zero

Cpn,

12/05/23

..

8,605

7,806

5473848.SQ.FTS.B,

Zero

Cpn,

12/05/23

..

6,446

6,092

5473877.SQ.FTS.B,

Zero

Cpn,

12/05/23

..

3,640

3,423

5473901.SQ.FTS.B,

Zero

Cpn,

12/05/23

..

16,559

15,236

5474008.SQ.FTS.B,

Zero

Cpn,

12/05/23

..

2,818

2,693

5474033.SQ.FTS.B,

Zero

Cpn,

12/05/23

..

1,511

1,450

5474041.SQ.FTS.B,

Zero

Cpn,

12/05/23

..

20,068

19,027

5474147.SQ.FTS.B,

Zero

Cpn,

12/05/23

..

13,136

12,184

5474244.SQ.FTS.B,

Zero

Cpn,

12/05/23

..

10,218

9,628

5474309.SQ.FTS.B,

Zero

Cpn,

12/05/23

..

526

495

5474318.SQ.FTS.B,

Zero

Cpn,

12/05/23

..

2,467

2,300

5474331.SQ.FTS.B,

Zero

Cpn,

12/05/23

..

19,844

18,768

5474479.SQ.FTS.B,

Zero

Cpn,

12/05/23

..

4,191

4,003

5474525.SQ.FTS.B,

Zero

Cpn,

12/05/23

..

2,605

2,372

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

209

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5474530.SQ.FTS.B,

Zero

Cpn,

12/05/23

..

$

503

$

477

5474545.SQ.FTS.B,

Zero

Cpn,

12/05/23

..

4,146

3,960

5474559.SQ.FTS.B,

Zero

Cpn,

12/05/23

..

2,091

1,952

5474567.SQ.FTS.B,

Zero

Cpn,

12/05/23

..

3,356

3,221

5474596.SQ.FTS.B,

Zero

Cpn,

12/05/23

..

5,005

4,763

5474637.SQ.FTS.B,

Zero

Cpn,

12/05/23

..

1,003

934

5474647.SQ.FTS.B,

Zero

Cpn,

12/05/23

..

25,371

24,277

5477435.SQ.FTS.B,

Zero

Cpn,

12/06/23

..

2,675

2,542

5477649.SQ.FTS.B,

Zero

Cpn,

12/06/23

..

5,726

5,401

5478206.SQ.FTS.B,

Zero

Cpn,

12/06/23

..

834

804

5478486.SQ.FTS.B,

Zero

Cpn,

12/06/23

..

2,180

2,096

5479358.SQ.FTS.B,

Zero

Cpn,

12/06/23

..

839

808

5479821.SQ.FTS.B,

Zero

Cpn,

12/06/23

..

10,610

9,113

5482619.SQ.FTS.B,

Zero

Cpn,

12/06/23

..

1,872

1,749

5492980.SQ.FTS.B,

Zero

Cpn,

12/06/23

..

1,771

1,461

5493041.SQ.FTS.B,

Zero

Cpn,

12/06/23

..

3,662

3,505

5493119.SQ.FTS.B,

Zero

Cpn,

12/06/23

..

1,400

1,331

5493182.SQ.FTS.B,

Zero

Cpn,

12/06/23

..

569

535

5493201.SQ.FTS.B,

Zero

Cpn,

12/06/23

..

5,252

5,015

5493392.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

11,558

10,787

5493687.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

2,094

1,957

5493760.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

6,351

5,551

5493963.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

4,593

4,371

5494031.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

39,272

37,459

5495244.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

3,255

2,404

5495378.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

16,882

16,104

5498759.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

2,933

2,710

5498914.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

3,404

3,242

5499117.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

2,292

2,106

5499315.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

47

45

5499444.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

3,278

3,125

5499610.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

838

796

5499640.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

4,702

4,489

5499836.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

1,022

973

5499913.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

7,213

6,945

5500403.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

6,998

6,705

5500556.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

878

776

5500591.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

417

394

5500642.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

6,507

6,214

5500775.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

19,923

18,779

5501790.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

29,020

26,337

5502382.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

3,334

3,183

5502489.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

2,530

2,403

5502545.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

3,755

3,549

5502597.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

9,533

9,105

5502812.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

2,405

2,255

5502855.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

57,966

54,635

5503917.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

1,466

1,396

5503969.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

2,063

1,860

5504019.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

9,455

7,280

5504275.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

1,928

1,649

5504334.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

3,286

2,494

5504476.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

64,269

61,388

5505942.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

5,135

4,895

5506022.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

13,383

12,418

5506324.SQ.FTS.B,

Zero

Cpn,

12/07/23

..

13,903

13,223

5506568.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

6,197

5,832

5506864.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

9,333

8,828

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5507053.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

$

6,093

$

5,727

5507245.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

10,492

9,892

5507462.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

833

798

5507518.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

855

773

5507575.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

9,571

8,732

5508073.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

2,452

2,310

5508126.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

885

837

5508310.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

1,590

1,504

5508429.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

3,344

3,155

5508716.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

2,418

2,274

5508931.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

12,621

11,704

5510489.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

6,871

6,289

5512903.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

23,768

22,236

5515131.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

3,343

3,183

5515311.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

2,505

2,342

5515473.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

2,851

2,689

5515632.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

1,720

1,634

5515721.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

7,289

6,762

5515935.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

1,998

1,819

5515993.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

3,708

3,533

5516128.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

1,384

1,317

5516152.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

6,854

6,572

5516485.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

1,449

1,369

5516569.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

4,089

3,905

5516699.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

4,476

4,273

5516825.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

9,400

8,920

5517064.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

5,029

4,789

5517225.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

366

353

5517226.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

6,764

6,461

5517348.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

3,197

3,008

5517484.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

9,830

9,391

5517661.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

36,727

34,524

5518162.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

373

320

5518174.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

20,866

19,237

5518408.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

3,694

3,542

5518442.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

21,419

15,108

5518744.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

2,343

2,239

5518745.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

1,720

1,645

5518821.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

12,058

11,068

5519032.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

8,937

8,516

5519134.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

3,043

2,882

5519182.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

34,339

27,266

5519567.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

543

382

5519593.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

304

294

5519605.SQ.FTS.B,

Zero

Cpn,

12/08/23

..

74,603

71,219

5528141.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

1,679

1,349

5528153.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

3,566

3,086

5528198.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

11,267

10,753

5528314.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

2,331

2,190

5528407.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

1,395

1,349

5528500.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

1,099

938

5528525.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

2,599

2,419

5528572.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

8,020

7,504

5528673.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

2,973

2,850

5528715.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

1,502

1,016

5528727.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

8,146

7,433

5528853.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

9,094

8,652

5529056.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

3,719

3,513

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

210

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5529222.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

$

1,924

$

1,829

5529443.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

5,762

5,370

5530002.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

4,095

3,291

5530129.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

3,443

3,141

5530260.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

2,794

2,659

5530334.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

4,084

3,358

5530437.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

2,040

1,947

5530473.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

12,524

11,425

5530682.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

8,851

8,422

5530812.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

751

696

5530818.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

26,956

25,653

5531356.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

7,578

7,126

5531485.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

673

580

5531489.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

2,735

2,615

5531534.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

1,200

1,082

5531547.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

2,161

2,062

5531566.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

8,515

7,948

5531634.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

23,292

21,496

5531927.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

61,925

58,667

5532728.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

16,515

15,761

5532963.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

6,955

6,438

5533121.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

5,942

5,392

5533162.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

7,762

7,088

5533246.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

12,263

11,711

5533404.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

784

746

5533416.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

8,760

8,344

5533465.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

1,872

1,734

5533474.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

1,262

1,157

5533480.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

10,283

9,725

5533555.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

5,064

4,833

5533597.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

52,633

49,181

5534153.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

8,445

8,012

5534279.SQ.FTS.B,

Zero

Cpn,

12/09/23

..

3,666

3,500

5534378.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

946

852

5534404.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

725

686

5534411.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

1,181

1,019

5534441.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

947

895

5534480.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

2,347

2,240

5534538.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

4,149

3,811

5534547.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

822

782

5534570.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

28,852

27,087

5534772.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

5,612

5,354

5534784.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

19,435

18,550

5534942.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

19,474

18,504

5535155.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

677

630

5535161.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

11,291

10,696

5535338.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

9,700

9,227

5535542.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

3,027

2,656

5535591.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

3,622

3,456

5535763.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

9,105

8,505

5536027.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

2,622

2,118

5536092.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

7,043

6,730

5536410.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

24,231

23,174

5536834.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

2,778

2,616

5536867.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

12,944

12,361

5537060.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

9,365

8,874

5537230.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

13,148

11,289

5537334.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

709

683

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5537345.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

$

550

$

519

5537354.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

5,818

5,498

5537450.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

1,441

1,362

5537464.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

975

932

5537487.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

1,487

1,350

5537511.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

1,524

1,360

5537519.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

1,914

1,773

5537558.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

917

863

5537562.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

3,697

3,420

5537635.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

26,815

25,392

5537977.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

22,332

21,280

5538212.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

548

514

5538225.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

1,853

1,763

5538258.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

8,271

7,846

5538406.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

4,340

3,311

5538456.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

16,794

15,294

5538691.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

15,047

14,318

5538933.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

26,071

22,851

5539226.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

20,657

19,535

5539604.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

3,156

2,944

5539668.SQ.FTS.B,

Zero

Cpn,

12/10/23

..

24,644

23,026

5539694.SQ.FTS.B,

Zero

Cpn,

12/11/23

..

4,308

4,102

5539732.SQ.FTS.B,

Zero

Cpn,

12/11/23

..

1,260

1,203

5539742.SQ.FTS.B,

Zero

Cpn,

12/11/23

..

5,257

4,999

5539793.SQ.FTS.B,

Zero

Cpn,

12/11/23

..

2,347

2,254

5539812.SQ.FTS.B,

Zero

Cpn,

12/11/23

..

3,123

2,876

5539820.SQ.FTS.B,

Zero

Cpn,

12/11/23

..

47,127

44,067

5540165.SQ.FTS.B,

Zero

Cpn,

12/11/23

..

28,930

27,015

5540411.SQ.FTS.B,

Zero

Cpn,

12/11/23

..

5,694

5,407

5540464.SQ.FTS.B,

Zero

Cpn,

12/11/23

..

17,444

16,675

5540655.SQ.FTS.B,

Zero

Cpn,

12/12/23

..

423

410

5540662.SQ.FTS.B,

Zero

Cpn,

12/12/23

..

1,706

1,581

5540679.SQ.FTS.B,

Zero

Cpn,

12/12/23

..

3,397

3,204

5540715.SQ.FTS.B,

Zero

Cpn,

12/12/23

..

2,282

2,146

5540726.SQ.FTS.B,

Zero

Cpn,

12/12/23

..

3,716

3,395

5540766.SQ.FTS.B,

Zero

Cpn,

12/12/23

..

1,794

1,707

5540789.SQ.FTS.B,

Zero

Cpn,

12/12/23

..

9,091

8,676

5540880.SQ.FTS.B,

Zero

Cpn,

12/12/23

..

1,552

1,494

5540906.SQ.FTS.B,

Zero

Cpn,

12/12/23

..

2,738

2,613

5540934.SQ.FTS.B,

Zero

Cpn,

12/12/23

..

11,937

11,383

5541038.SQ.FTS.B,

Zero

Cpn,

12/12/23

..

17,482

16,514

5541180.SQ.FTS.B,

Zero

Cpn,

12/12/23

..

2,158

2,091

5541242.SQ.FTS.B,

Zero

Cpn,

12/12/23

..

742

692

5541253.SQ.FTS.B,

Zero

Cpn,

12/12/23

..

10,641

10,049

5541344.SQ.FTS.B,

Zero

Cpn,

12/12/23

..

7,807

6,504

5541402.SQ.FTS.B,

Zero

Cpn,

12/12/23

..

4,427

3,931

5541505.SQ.FTS.B,

Zero

Cpn,

12/13/23

..

2,405

2,210

5541558.SQ.FTS.B,

Zero

Cpn,

12/13/23

..

1,383

1,315

5541627.SQ.FTS.B,

Zero

Cpn,

12/13/23

..

11,047

10,490

5542073.SQ.FTS.B,

Zero

Cpn,

12/13/23

..

3,326

3,155

5542193.SQ.FTS.B,

Zero

Cpn,

12/13/23

..

614

593

5542232.SQ.FTS.B,

Zero

Cpn,

12/13/23

..

9,576

7,900

5542706.SQ.FTS.B,

Zero

Cpn,

12/13/23

..

2,646

2,357

5543052.SQ.FTS.B,

Zero

Cpn,

12/13/23

..

603

556

5543132.SQ.FTS.B,

Zero

Cpn,

12/13/23

..

4,190

4,002

5543476.SQ.FTS.B,

Zero

Cpn,

12/13/23

..

799

715

5543499.SQ.FTS.B,

Zero

Cpn,

12/13/23

..

430

405

5543538.SQ.FTS.B,

Zero

Cpn,

12/13/23

..

4,885

4,613

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

211

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5543639.SQ.FTS.B,

Zero

Cpn,

12/13/23

..

$

3,665

$

3,458

5543761.SQ.FTS.B,

Zero

Cpn,

12/13/23

..

4,933

4,707

5544891.SQ.FTS.B,

Zero

Cpn,

12/13/23

..

27,947

26,507

5545556.SQ.FTS.B,

Zero

Cpn,

12/13/23

..

2,419

2,312

5545704.SQ.FTS.B,

Zero

Cpn,

12/13/23

..

3,294

3,143

5545767.SQ.FTS.B,

Zero

Cpn,

12/13/23

..

489

470

5545827.SQ.FTS.B,

Zero

Cpn,

12/13/23

..

5,952

5,614

5545928.SQ.FTS.B,

Zero

Cpn,

12/13/23

..

925

840

5545948.SQ.FTS.B,

Zero

Cpn,

12/13/23

..

1,845

1,711

5546018.SQ.FTS.B,

Zero

Cpn,

12/13/23

..

762

726

5546060.SQ.FTS.B,

Zero

Cpn,

12/13/23

..

1,439

1,301

5546092.SQ.FTS.B,

Zero

Cpn,

12/13/23

..

4,207

3,912

5546197.SQ.FTS.B,

Zero

Cpn,

12/13/23

..

6,433

6,139

5546306.SQ.FTS.B,

Zero

Cpn,

12/13/23

..

8,515

8,088

5546534.SQ.FTS.B,

Zero

Cpn,

12/13/23

..

9,422

8,815

5546696.SQ.FTS.B,

Zero

Cpn,

12/13/23

..

2,281

2,120

5546767.SQ.FTS.B,

Zero

Cpn,

12/13/23

..

19,161

17,917

5547129.SQ.FTS.B,

Zero

Cpn,

12/13/23

..

2,440

2,293

5547157.SQ.FTS.B,

Zero

Cpn,

12/13/23

..

12,669

12,055

5547391.SQ.FTS.B,

Zero

Cpn,

12/13/23

..

34,864

32,982

5547948.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

11,761

11,193

5548045.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

812

743

5548094.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

2,590

2,457

5548114.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

1,989

1,907

5548144.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

3,992

3,263

5548196.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

4,212

3,908

5548238.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

2,349

2,191

5548278.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

875

841

5548297.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

4,603

4,223

5548329.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

983

917

5548359.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

888

821

5548375.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

2,484

2,355

5548419.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

2,859

2,695

5548454.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

2,039

1,925

5548501.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

1,382

1,319

5548517.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

2,238

2,079

5548558.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

1,737

1,646

5548578.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

911

870

5548609.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

4,923

4,663

5548717.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

1,095

991

5548729.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

736

562

5548732.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

2,478

2,220

5548794.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

5,211

4,933

5548991.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

12,214

11,622

5549217.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

3,310

3,047

5549309.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

1,370

1,308

5549366.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

1,577

1,468

5549395.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

2,685

2,547

5549464.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

1,126

1,070

5549559.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

4,283

4,069

5550009.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

3,100

2,957

5550194.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

806

765

5550242.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

1,315

1,204

5550272.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

1,762

1,437

5550312.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

3,086

2,855

5550405.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

9,886

8,792

5550595.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

2,950

2,751

5550648.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

822

768

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5550675.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

$

1,085

$

995

5550686.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

888

829

5550713.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

3,570

3,466

5550887.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

7,125

6,278

5551052.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

5,359

5,038

5551142.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

16,546

15,633

5551729.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

6,738

6,374

5551837.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

4,102

3,343

5551969.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

16,364

15,698

5552242.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

8,913

8,560

5552395.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

2,592

2,179

5552401.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

8,920

8,116

5552447.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

3,299

3,147

5552461.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

1,274

1,215

5552468.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

3,028

2,824

5552527.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

2,888

2,755

5552577.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

3,041

2,624

5552611.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

38,737

36,643

5553076.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

2,101

2,012

5553098.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

10,131

9,463

5553214.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

6,746

6,199

5553266.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

8,954

8,537

5553388.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

19,636

18,554

5553653.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

13,505

12,894

5553801.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

17,379

16,452

5553995.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

1,046

1,003

5554017.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

8,817

8,158

5554115.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

19,066

17,862

5554299.SQ.FTS.B,

Zero

Cpn,

12/14/23

..

30,258

28,265

5554643.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

8,441

7,959

5554738.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

20,148

19,217

5554983.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

11,283

10,777

5555227.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

6,997

6,616

5555300.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

2,086

1,908

5555350.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

7,597

6,425

5555511.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

3,790

3,391

5555574.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

2,802

2,617

5555667.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

2,892

2,758

5555694.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

18,598

17,739

5556394.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

2,148

2,006

5556421.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

4,487

4,259

5556490.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

12,383

11,746

5556689.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

1,381

1,325

5556703.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

3,008

2,781

5556744.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

6,709

6,388

5556890.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

5,035

4,774

5556968.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

8,192

7,813

5557107.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

10,356

9,818

5557257.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

11,963

10,062

5557309.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

1,210

880

5557334.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

1,808

1,689

5557365.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

597

544

5557385.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

2,806

2,663

5557413.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

987

845

5557424.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

1,648

1,591

5557462.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

9,492

9,057

5557525.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

2,906

2,738

5557551.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

28,093

26,556

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

212

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5557708.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

$

38,051

$

36,129

5557972.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

1,151

940

5557979.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

9,069

8,659

5558026.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

7,459

7,108

5558065.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

3,729

3,564

5558103.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

7,218

6,823

5558178.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

10,366

9,815

5558312.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

2,721

2,489

5558361.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

3,244

3,073

5558395.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

1,697

1,608

5558433.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

2,168

2,054

5558467.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

2,000

1,890

5558487.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

2,548

2,441

5558531.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

2,801

2,417

5558543.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

7,349

6,617

5558648.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

695

667

5558669.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

604

586

5558679.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

3,155

2,578

5558723.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

24,713

21,333

5558866.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

2,460

2,330

5558898.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

3,142

2,974

5558934.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

11,294

10,718

5559057.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

17,102

16,365

5559213.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

4,206

4,038

5559238.SQ.FTS.B,

Zero

Cpn,

12/15/23

..

17,060

15,516

5561360.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

1,629

1,529

5561371.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

3,662

3,231

5561376.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

10,836

10,258

5561494.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

1,308

1,196

5561502.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

2,179

2,053

5561522.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

5,235

4,991

5561549.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

6,191

5,661

5561560.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

3,582

3,259

5561575.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

11,526

10,996

5561730.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

2,532

1,958

5561747.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

4,095

3,849

5561791.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

2,661

2,485

5561838.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

2,939

2,769

5561871.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

23,792

22,651

5562244.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

2,286

2,163

5562285.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

5,540

5,254

5562378.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

4,845

3,966

5562437.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

904

812

5562460.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

435

420

5562473.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

10,848

10,107

5562566.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

15,809

15,076

5562688.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

3,749

3,534

5562699.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

688

664

5562709.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

2,030

1,848

5562748.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

63,948

60,526

5563138.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

1,817

1,732

5563156.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

20,538

19,018

5563259.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

808

765

5563268.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

1,898

1,799

5563309.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

6,548

4,978

5563388.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

4,435

4,197

5563437.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

69,585

64,447

5563841.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

5,400

5,097

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5563867.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

$

542

$

520

5563870.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

20,013

18,534

5564052.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

5,499

5,204

5564094.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

5,398

5,097

5564117.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

47,122

44,414

5564400.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

5,787

5,298

5564440.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

6,002

5,675

5564465.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

4,800

4,113

5564506.SQ.FTS.B,

Zero

Cpn,

12/16/23

..

38,890

36,879

5564567.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

3,553

3,390

5564594.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

17,307

16,198

5564678.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

1,224

1,137

5564679.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

2,129

2,051

5564699.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

1,646

1,520

5564730.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

2,252

2,147

5564739.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

9,725

8,943

5564803.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

6,176

5,873

5564857.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

3,442

3,259

5564880.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

598

570

5564887.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

5,281

5,035

5564911.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

11,383

10,778

5565016.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

2,236

2,146

5565044.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

1,058

997

5565049.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

2,422

2,307

5565073.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

6,585

5,022

5565111.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

30,381

28,496

5565342.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

2,688

2,410

5565356.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

733

698

5565371.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

2,417

2,323

5565523.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

13,343

11,066

5565615.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

2,422

2,290

5565628.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

2,985

2,855

5565643.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

1,586

1,514

5565650.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

926

855

5565658.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

1,469

1,399

5565672.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

4,591

4,415

5565718.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

1,113

876

5565730.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

1,685

1,567

5565739.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

13,894

12,781

5565830.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

16,570

15,688

5565935.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

20,740

19,170

5566028.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

1,392

1,340

5566034.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

7,748

7,246

5566107.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

26,416

24,475

5566292.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

13,051

12,186

5566893.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

5,295

4,990

5566950.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

1,678

1,508

5566977.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

4,680

3,605

5567044.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

20,929

20,023

5567278.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

5,294

4,475

5567314.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

4,041

3,852

5567323.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

5,855

5,554

5567362.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

4,519

4,121

5567401.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

10,155

9,684

5567433.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

14,737

14,098

5567514.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

10,443

8,877

5567580.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

23,718

22,643

5567792.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

7,065

5,794

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

213

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5567821.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

$

9,297

$

8,274

5567867.SQ.FTS.B,

Zero

Cpn,

12/17/23

..

20,379

19,297

5567952.SQ.FTS.B,

Zero

Cpn,

12/18/23

..

4,639

4,420

5567975.SQ.FTS.B,

Zero

Cpn,

12/18/23

..

8,382

7,991

5568019.SQ.FTS.B,

Zero

Cpn,

12/18/23

..

44,283

41,377

5568211.SQ.FTS.B,

Zero

Cpn,

12/18/23

..

5,024

4,757

5568245.SQ.FTS.B,

Zero

Cpn,

12/18/23

..

3,054

2,912

5568260.SQ.FTS.B,

Zero

Cpn,

12/18/23

..

6,880

6,544

5568293.SQ.FTS.B,

Zero

Cpn,

12/18/23

..

732

709

5568310.SQ.FTS.B,

Zero

Cpn,

12/18/23

..

21,665

20,510

5568441.SQ.FTS.B,

Zero

Cpn,

12/18/23

..

7,614

7,247

5568491.SQ.FTS.B,

Zero

Cpn,

12/18/23

..

1,013

954

5568498.SQ.FTS.B,

Zero

Cpn,

12/18/23

..

1,273

1,163

5568514.SQ.FTS.B,

Zero

Cpn,

12/18/23

..

5,530

5,282

5568567.SQ.FTS.B,

Zero

Cpn,

12/18/23

..

3,249

3,082

5568586.SQ.FTS.B,

Zero

Cpn,

12/18/23

..

2,748

2,606

5568605.SQ.FTS.B,

Zero

Cpn,

12/18/23

..

2,068

1,889

5568613.SQ.FTS.B,

Zero

Cpn,

12/18/23

..

7,092

5,492

5568652.SQ.FTS.B,

Zero

Cpn,

12/18/23

..

1,044

907

5568663.SQ.FTS.B,

Zero

Cpn,

12/18/23

..

7,411

6,983

5568704.SQ.FTS.B,

Zero

Cpn,

12/18/23

..

2,015

1,933

5568721.SQ.FTS.B,

Zero

Cpn,

12/19/23

..

9,160

8,650

5568792.SQ.FTS.B,

Zero

Cpn,

12/19/23

..

2,103

1,946

5568809.SQ.FTS.B,

Zero

Cpn,

12/19/23

..

602

560

5568813.SQ.FTS.B,

Zero

Cpn,

12/19/23

..

679

605

5568817.SQ.FTS.B,

Zero

Cpn,

12/19/23

..

8,331

7,065

5568871.SQ.FTS.B,

Zero

Cpn,

12/19/23

..

9,803

9,396

5568951.SQ.FTS.B,

Zero

Cpn,

12/19/23

..

12,226

11,655

5569032.SQ.FTS.B,

Zero

Cpn,

12/19/23

..

6,304

6,010

5569075.SQ.FTS.B,

Zero

Cpn,

12/19/23

..

13,913

13,230

5569169.SQ.FTS.B,

Zero

Cpn,

12/19/23

..

967

925

5569178.SQ.FTS.B,

Zero

Cpn,

12/19/23

..

10,167

9,692

5569245.SQ.FTS.B,

Zero

Cpn,

12/19/23

..

8,542

8,139

5569312.SQ.FTS.B,

Zero

Cpn,

12/19/23

..

2,523

2,390

5569327.SQ.FTS.B,

Zero

Cpn,

12/19/23

..

4,809

4,554

5569363.SQ.FTS.B,

Zero

Cpn,

12/19/23

..

3,524

3,321

5569522.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

1,767

1,697

5569558.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

430

412

5569601.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

423

362

5569620.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

3,654

3,444

5569685.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

5,464

5,209

5569825.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

4,346

4,145

5569924.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

3,187

2,714

5569977.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

7,047

5,653

5570079.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

1,302

979

5570142.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

2,073

1,955

5570202.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

3,461

3,309

5570313.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

6,275

5,847

5570376.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

3,828

3,610

5570455.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

1,333

1,278

5570484.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

2,099

2,001

5570524.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

34,970

33,133

5570965.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

2,203

2,001

5571007.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

1,849

1,722

5571039.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

3,265

3,104

5571108.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

618

582

5571116.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

1,933

1,724

5571140.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

8,446

8,056

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5571315.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

$

5,685

$

5,419

5571387.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

7,688

7,330

5571537.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

2,938

2,819

5571573.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

913

881

5571610.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

18,458

17,318

5571805.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

13,185

12,546

5571973.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

15,601

14,863

5572308.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

1,324

1,232

5572332.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

4,889

4,639

5572433.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

654

623

5572448.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

3,849

3,644

5572513.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

406

388

5572567.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

1,906

1,770

5572613.SQ.FTS.B,

Zero

Cpn,

12/20/23

..

705

675

5572669.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

26,416

25,039

5572883.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

3,635

3,447

5572932.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

6,009

5,757

5573013.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

4,148

3,949

5573177.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

1,791

1,694

5573185.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

4,373

4,150

5573199.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

10,127

9,413

5573280.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

1,631

1,467

5573294.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

6,355

6,051

5573362.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

8,136

7,666

5573438.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

3,528

3,287

5573474.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

2,987

2,828

5573491.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

3,826

3,654

5573519.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

51,232

47,000

5574175.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

1,619

1,455

5574192.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

3,740

3,528

5574227.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

9,136

8,701

5574284.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

20,006

18,976

5574357.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

5,856

5,585

5574375.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

6,145

5,857

5574422.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

3,003

2,863

5574449.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

18,471

17,406

5574551.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

4,395

4,028

5574569.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

8,785

8,334

5574619.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

2,563

2,129

5574634.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

1,509

1,427

5574650.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

1,304

1,248

5574671.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

1,113

1,077

5574691.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

8,987

8,472

5574770.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

15,993

13,680

5574870.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

3,067

2,800

5574887.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

930

802

5574901.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

16,959

15,137

5575013.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

6,791

6,321

5575075.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

5,032

4,798

5575137.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

1,010

952

5575141.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

869

776

5575149.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

3,365

3,143

5575181.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

4,835

4,579

5575210.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

706

640

5575219.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

5,051

4,762

5575264.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

1,869

1,715

5575277.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

2,004

1,889

5575282.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

9,977

8,954

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

214

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5575354.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

$

3,255

$

2,925

5575397.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

1,070

1,012

5575401.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

1,590

1,480

5575403.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

1,643

1,549

5575423.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

7,801

7,429

5575478.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

17,089

16,104

5575646.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

54,030

51,372

5576046.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

2,426

2,282

5576070.SQ.FTS.B,

Zero

Cpn,

12/21/23

..

5,816

5,537

5576122.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

2,800

2,642

5576150.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

900

727

5576159.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

40,107

38,222

5576354.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

84,188

77,876

5576888.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

1,079

984

5576909.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

8,414

8,005

5577521.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

4,900

4,671

5577554.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

2,189

2,058

5577593.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

1,052

957

5577613.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

5,096

4,214

5577639.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

2,196

2,045

5577659.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

7,330

6,723

5577721.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

8,787

8,347

5577780.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

1,715

1,648

5577793.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

4,022

3,823

5577816.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

23,208

22,122

5578014.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

1,559

1,452

5578024.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

946

881

5578029.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

4,821

4,456

5578090.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

29,273

27,693

5578293.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

4,188

3,588

5578333.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

9,607

8,637

5578383.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

27,844

26,268

5578533.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

2,021

1,868

5578552.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

21,583

20,585

5578765.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

4,374

4,071

5578804.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

9,078

8,709

5578869.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

3,710

3,504

5578897.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

1,049

982

5578902.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

2,563

2,334

5578920.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

1,746

1,527

5578934.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

6,730

6,266

5578976.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

4,970

4,732

5579005.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

4,160

3,959

5579033.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

572

551

5579040.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

1,279

1,224

5579045.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

22,819

20,830

5579155.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

3,785

3,456

5579185.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

1,952

1,864

5579194.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

2,997

2,819

5579213.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

3,009

2,815

5579233.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

3,829

3,647

5579247.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

441

425

5579252.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

10,826

10,272

5579320.SQ.FTS.B,

Zero

Cpn,

12/22/23

..

17,943

17,013

5581157.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

6,001

5,041

5581190.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

1,574

1,476

5581205.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

1,187

1,012

5581220.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

3,546

3,015

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5581233.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

$

7,115

$

6,500

5581296.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

6,637

6,324

5581338.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

2,815

2,564

5581364.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

8,694

8,284

5581405.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

1,779

1,644

5581409.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

4,451

4,062

5581428.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

10,706

9,990

5581507.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

29,470

27,750

5581796.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

4,441

4,108

5581824.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

4,059

3,868

5581856.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

4,058

3,839

5581898.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

6,137

5,812

5581918.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

3,024

2,881

5581942.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

3,426

3,244

5581964.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

13,098

11,728

5582607.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

1,512

1,382

5582618.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

1,597

1,489

5582638.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

2,470

1,929

5582678.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

3,330

2,996

5582711.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

2,528

2,380

5582722.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

489

460

5582734.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

3,908

3,702

5582775.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

1,607

1,446

5582784.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

31,222

29,590

5583023.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

4,857

4,629

5583084.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

2,758

2,517

5583109.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

2,627

2,485

5583122.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

5,808

5,522

5583187.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

2,941

2,801

5583225.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

16,866

16,126

5583509.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

2,491

2,377

5583539.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

15,418

14,512

5583658.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

3,372

3,033

5583688.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

645

604

5583691.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

4,909

4,675

5583735.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

1,186

1,083

5583765.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

513

483

5583773.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

2,412

2,260

5583803.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

1,503

1,454

5583820.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

4,436

4,137

5583850.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

1,767

1,695

5583864.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

13,129

12,361

5583986.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

4,422

4,169

5584022.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

13,930

11,894

5584116.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

71,103

67,106

5584489.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

16,461

15,636

5584573.SQ.FTS.B,

Zero

Cpn,

12/23/23

..

49,947

47,580

5584743.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

9,891

9,248

5584867.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

13,178

12,197

5584970.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

7,835

7,328

5585077.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

1,516

1,424

5585085.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

10,521

9,799

5585193.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

1,892

1,767

5585218.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

769

704

5585223.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

14,872

13,917

5585428.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

18,179

16,905

5585684.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

2,389

2,221

5585701.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

5,316

4,960

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

215

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5585749.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

$

7,628

$

7,249

5585802.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

3,376

3,176

5585833.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

5,677

5,399

5585866.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

41,853

38,771

5586226.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

1,904

1,799

5586262.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

27,714

25,969

5586407.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

4,921

4,584

5586476.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

1,018

972

5586489.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

5,012

4,679

5586549.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

13,523

12,665

5586673.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

3,100

2,916

5586701.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

27,486

25,736

5586838.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

716

653

5586841.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

3,394

3,178

5586864.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

1,234

1,113

5586878.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

64,682

60,854

5587316.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

69,850

65,508

5587763.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

13,450

12,613

5587847.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

1,790

1,672

5587867.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

2,960

2,744

5587880.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

1,447

1,348

5587890.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

2,146

1,936

5587897.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

21,318

20,000

5587983.SQ.FTS.B,

Zero

Cpn,

12/24/23

..

3,048

2,841

5588016.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

7,590

7,049

5588049.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

17,499

16,583

5588077.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

4,593

4,356

5588082.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

4,740

4,519

5588085.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

4,184

3,995

5588086.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

1,890

1,755

5588088.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

1,117

1,040

5588089.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

16,099

15,127

5588117.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

13,682

12,870

5588134.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

5,565

5,140

5588154.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

3,753

3,495

5588168.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

470

441

5588170.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

2,727

2,550

5588182.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

4,764

4,520

5588201.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

16,202

15,183

5588252.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

3,033

2,839

5588264.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

723

623

5588270.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

1,057

977

5588272.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

8,384

7,815

5588302.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

6,066

5,790

5588327.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

4,326

4,096

5588352.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

5,223

4,984

5588362.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

3,359

3,169

5588380.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

9,000

8,662

5588408.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

4,961

4,670

5588423.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

2,297

2,150

5588430.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

1,094

1,009

5588436.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

3,206

2,814

5588453.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

2,383

2,223

5588465.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

412

388

5588472.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

22,827

21,797

5588521.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

1,592

1,481

5588527.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

6,985

6,553

5588544.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

4,152

3,906

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5588561.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

$

12,788

$

12,216

5588599.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

1,969

1,879

5588606.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

3,382

3,225

5588620.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

19,231

18,001

5588679.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

11,928

11,196

5588726.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

666

627

5588727.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

2,046

1,909

5588735.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

1,999

1,869

5588744.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

9,776

9,176

5588776.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

7,804

7,448

5588795.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

4,485

4,148

5588808.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

2,753

2,627

5588817.SQ.FTS.B,

Zero

Cpn,

12/25/23

..

6,048

5,676

5588838.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

1,039

973

5588842.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

3,464

3,305

5588851.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

1,981

1,857

5588859.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

3,825

3,510

5588868.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

2,471

2,301

5588878.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

329

288

5588881.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

10,656

9,985

5588914.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

2,567

2,413

5588925.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

26,232

24,559

5589000.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

1,822

1,689

5589011.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

1,567

1,459

5589021.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

2,777

2,590

5589030.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

2,151

1,994

5589041.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

3,265

3,093

5589047.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

4,632

4,422

5589061.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

1,187

1,100

5589070.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

3,553

3,339

5589088.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

3,548

3,322

5589102.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

16,979

16,508

5589184.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

6,344

6,055

5589213.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

12,361

11,843

5589246.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

3,004

2,867

5589258.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

1,898

1,743

5589268.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

926

868

5589271.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

1,924

1,800

5589280.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

1,784

1,623

5589295.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

4,217

3,887

5589312.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

1,390

1,301

5589315.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

6,093

5,693

5589331.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

1,322

1,252

5589335.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

1,615

1,511

5589338.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

7,064

6,539

5589354.SQ.FTS.B,

Zero

Cpn,

12/26/23

..

5,618

5,345

5593222.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

3,670

3,515

5593248.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

7,164

6,716

5593290.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

4,067

3,736

5593316.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

46,339

44,152

5593618.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

11,556

10,770

5593664.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

4,136

3,944

5593683.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

2,240

2,098

5593696.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

25,417

23,857

5593814.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

13,518

12,439

5593884.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

15,863

14,847

5594009.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

1,589

1,477

5594014.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

12,773

12,354

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

216

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5594128.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

$

4,771

$

4,406

5594164.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

30,121

28,222

5594406.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

11,231

10,561

5594525.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

21,307

20,034

5594603.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

7,038

6,716

5594623.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

9,158

8,577

5594655.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

6,332

6,005

5594673.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

4,888

4,510

5594685.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

42,392

39,200

5594895.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

42,401

40,433

5595097.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

85,201

81,301

5595427.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

7,199

6,761

5595455.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

3,310

3,099

5595470.SQ.FTS.B,

Zero

Cpn,

12/28/23

..

5,985

5,540

5596590.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

23,024

21,363

5596856.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

3,155

2,918

5596877.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

6,793

6,471

5596912.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

19,619

18,236

5597071.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

14,994

14,106

5597225.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

2,965

2,755

5597307.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

9,570

8,993

5597413.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

6,026

5,650

5597465.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

12,692

12,055

5597543.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

5,080

4,756

5597612.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

9,870

9,419

5597684.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

6,365

5,988

5597722.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

5,077

4,755

5597761.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

5,283

5,009

5597803.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

3,046

2,907

5597824.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

5,500

5,136

5597852.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

4,508

4,305

5597870.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

4,049

3,816

5597894.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

6,483

6,069

5597929.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

12,054

11,505

5598067.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

9,176

8,566

5598093.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

8,072

7,496

5598139.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

647

600

5598146.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

2,012

1,913

5598170.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

14,667

13,865

5598254.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

1,455

1,349

5598265.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

2,680

2,499

5598269.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

3,106

2,898

5598321.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

5,781

5,418

5598399.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

608

566

5598403.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

7,966

7,450

5598474.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

13,648

13,032

5598595.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

674

636

5598607.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

16,678

15,729

5598797.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

12,654

11,789

5598889.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

6,602

6,297

5598925.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

3,121

2,893

5598998.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

10,826

10,144

5599130.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

2,026

1,900

5599139.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

9,865

9,252

5599249.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

2,549

2,371

5599294.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

1,615

1,501

5599318.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

11,744

10,941

5599507.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

652

608

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5599513.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

$

10,329

$

9,647

5599657.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

66,575

63,544

5600248.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

26,670

24,994

5600432.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

14,290

13,357

5600530.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

12,383

11,788

5600601.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

7,690

7,290

5600656.SQ.FTS.B,

Zero

Cpn,

12/29/23

..

8,274

7,760

5608075.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

47,053

44,042

5608405.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

4,185

3,955

5608438.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

5,707

5,409

5608470.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

9,449

8,527

5608654.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

7,974

7,610

5608726.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

7,179

6,666

5608811.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

6,600

6,136

5608943.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

4,834

4,580

5609098.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

3,582

3,417

5609398.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

724

680

5609439.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

4,815

4,414

5609525.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

1,613

1,524

5609566.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

13,284

12,575

5609811.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

30,669

29,295

5610319.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

2,342

2,165

5610367.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

10,404

9,769

5610508.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

5,758

5,380

5610587.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

5,180

4,909

5610661.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

15,166

14,240

5610809.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

5,173

4,936

5610856.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

828

797

5610861.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

30,243

28,993

5611074.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

9,600

9,160

5611181.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

8,565

7,977

5611218.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

4,017

3,831

5611233.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

4,374

4,084

5611249.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

2,708

2,503

5611284.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

2,029

1,880

5611317.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

20,708

19,455

5611437.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

3,094

2,951

5611444.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

2,048

1,887

5611464.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

2,775

2,629

5611481.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

15,685

14,675

5611571.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

27,817

26,061

5611786.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

20,675

19,662

5611978.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

3,793

3,556

5612016.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

1,602

1,482

5612056.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

59,490

56,274

5612423.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

6,114

5,728

5612473.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

3,662

3,410

5612491.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

2,958

2,821

5612500.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

655

620

5612504.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

2,749

2,571

5612514.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

5,343

5,018

5612577.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

21,147

19,784

5612765.SQ.FTS.B,

Zero

Cpn,

12/30/23

..

22,158

20,661

5613099.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

6,255

5,928

5613141.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

15,090

14,173

5613231.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

2,979

2,772

5613232.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

3,118

2,925

5613257.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

10,745

10,189

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

217

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5613314.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

$

1,093

$

1,030

5613321.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

4,460

4,260

5613359.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

1,123

1,068

5613379.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

18,217

17,043

5613593.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

6,724

6,371

5613643.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

11,702

11,166

5613852.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

13,635

12,673

5614043.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

4,476

4,190

5614174.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

1,424

1,331

5614251.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

3,968

3,818

5614424.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

2,682

2,498

5614491.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

1,231

1,146

5614523.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

1,073

997

5614536.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

5,851

5,445

5614600.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

10,625

10,201

5614778.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

1,256

1,198

5614786.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

3,991

3,708

5614832.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

10,740

10,245

5614969.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

2,156

2,021

5614986.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

3,399

3,189

5615039.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

8,294

7,801

5615110.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

1,384

1,304

5615137.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

1,703

1,561

5615158.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

24,811

23,217

5615395.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

17,157

16,362

5615529.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

4,367

4,056

5615562.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

68,827

64,684

5616091.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

25,736

24,545

5616258.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

2,246

2,080

5616271.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

1,545

1,435

5616274.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

70,376

66,112

5616842.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

2,224

2,082

5616870.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

1,624

1,506

5616876.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

3,875

3,676

5616921.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

2,748

2,658

5616956.SQ.FTS.B,

Zero

Cpn,

1/01/24

...

40,865

38,085

5617726.SQ.FTS.B,

Zero

Cpn,

1/02/24

...

861

770

5617738.SQ.FTS.B,

Zero

Cpn,

1/02/24

...

1,020

985

5617745.SQ.FTS.B,

Zero

Cpn,

1/02/24

...

5,974

5,567

5617803.SQ.FTS.B,

Zero

Cpn,

1/02/24

...

2,682

2,558

5617828.SQ.FTS.B,

Zero

Cpn,

1/02/24

...

19,859

18,662

5617988.SQ.FTS.B,

Zero

Cpn,

1/02/24

...

3,451

3,242

5618025.SQ.FTS.B,

Zero

Cpn,

1/02/24

...

2,605

2,422

5618054.SQ.FTS.B,

Zero

Cpn,

1/02/24

...

9,871

9,418

5618133.SQ.FTS.B,

Zero

Cpn,

1/02/24

...

3,230

3,064

5618163.SQ.FTS.B,

Zero

Cpn,

1/02/24

...

2,858

2,680

5618188.SQ.FTS.B,

Zero

Cpn,

1/02/24

...

2,956

2,760

5618215.SQ.FTS.B,

Zero

Cpn,

1/02/24

...

6,008

5,638

5618258.SQ.FTS.B,

Zero

Cpn,

1/02/24

...

4,471

4,123

5618309.SQ.FTS.B,

Zero

Cpn,

1/02/24

...

3,654

3,405

5618348.SQ.FTS.B,

Zero

Cpn,

1/02/24

...

5,430

5,182

5618392.SQ.FTS.B,

Zero

Cpn,

1/02/24

...

4,692

4,502

5618434.SQ.FTS.B,

Zero

Cpn,

1/02/24

...

2,864

2,661

5618454.SQ.FTS.B,

Zero

Cpn,

1/02/24

...

6,969

6,493

5618519.SQ.FTS.B,

Zero

Cpn,

1/02/24

...

10,198

9,728

5618586.SQ.FTS.B,

Zero

Cpn,

1/03/24

...

3,312

3,107

5618616.SQ.FTS.B,

Zero

Cpn,

1/03/24

...

3,366

3,149

5618644.SQ.FTS.B,

Zero

Cpn,

1/03/24

...

10,692

10,024

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5618746.SQ.FTS.B,

Zero

Cpn,

1/03/24

...

$

5,840

$

5,558

5618799.SQ.FTS.B,

Zero

Cpn,

1/03/24

...

2,032

1,924

5618817.SQ.FTS.B,

Zero

Cpn,

1/03/24

...

8,682

8,251

5618901.SQ.FTS.B,

Zero

Cpn,

1/03/24

...

14,651

13,963

5619026.SQ.FTS.B,

Zero

Cpn,

1/03/24

...

3,266

3,042

5619051.SQ.FTS.B,

Zero

Cpn,

1/03/24

...

3,661

3,422

5619090.SQ.FTS.B,

Zero

Cpn,

1/03/24

...

5,575

5,246

5619135.SQ.FTS.B,

Zero

Cpn,

1/03/24

...

11,344

10,812

5619230.SQ.FTS.B,

Zero

Cpn,

1/03/24

...

14,684

13,739

5619340.SQ.FTS.B,

Zero

Cpn,

1/04/24

...

8,794

8,386

5619408.SQ.FTS.B,

Zero

Cpn,

1/04/24

...

29,590

27,453

5619677.SQ.FTS.B,

Zero

Cpn,

1/04/24

...

2,436

2,283

5619707.SQ.FTS.B,

Zero

Cpn,

1/04/24

...

1,506

1,415

5619719.SQ.FTS.B,

Zero

Cpn,

1/04/24

...

7,580

7,158

5619777.SQ.FTS.B,

Zero

Cpn,

1/04/24

...

2,578

2,384

5619805.SQ.FTS.B,

Zero

Cpn,

1/04/24

...

2,685

2,512

5619818.SQ.FTS.B,

Zero

Cpn,

1/04/24

...

14,026

13,078

5619966.SQ.FTS.B,

Zero

Cpn,

1/04/24

...

2,834

2,704

5619994.SQ.FTS.B,

Zero

Cpn,

1/04/24

...

3,702

3,480

5620014.SQ.FTS.B,

Zero

Cpn,

1/04/24

...

20,228

18,944

5620356.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

2,826

2,642

5620460.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

1,357

1,283

5620480.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

14,946

14,045

5620991.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

4,782

4,436

5621282.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

3,399

3,194

5621493.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

1,130

1,048

5621545.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

18,564

17,587

5622029.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

7,635

7,233

5622112.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

3,377

3,007

5622164.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

50,542

47,371

5622786.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

3,754

3,551

5622868.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

5,737

5,473

5622928.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

4,495

4,178

5622991.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

5,864

5,510

5623060.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

815

767

5623075.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

1,843

1,724

5623137.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

21,829

20,594

5623424.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

1,546

1,440

5623606.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

41,472

39,567

5624103.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

1,105

1,043

5624115.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

1,357

1,264

5624122.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

8,440

7,904

5624199.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

36,788

35,107

5624731.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

6,941

6,496

5624885.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

3,242

3,080

5624955.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

1,856

1,730

5624973.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

1,558

1,499

5624987.SQ.FTS.B,

Zero

Cpn,

1/05/24

...

4,152

3,867

5625057.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

29,507

27,698

5625282.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

8,673

8,140

5625342.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

15,252

14,274

5625515.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

5,417

5,067

5625593.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

2,417

2,270

5625640.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

40,068

38,323

5626817.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

7,570

7,213

5626965.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

3,053

2,866

5627013.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

3,114

2,971

5627090.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

1,237

1,157

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

218

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5627097.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

$

7,652

$

7,379

5627163.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

1,707

1,604

5627203.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

48,233

45,928

5627733.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

1,742

1,636

5627747.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

10,998

10,277

5627848.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

4,187

3,995

5627902.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

7,200

6,755

5627997.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

2,016

1,878

5628017.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

2,440

2,246

5628061.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

4,833

4,544

5628104.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

4,098

3,910

5628125.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

24,515

23,206

5628323.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

2,564

2,429

5628344.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

40,602

38,718

5628695.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

7,313

6,806

5628765.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

2,895

2,687

5628787.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

6,393

6,142

5628883.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

7,536

7,156

5628967.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

7,877

7,449

5629056.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

1,930

1,829

5629080.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

3,578

3,398

5629103.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

1,524

1,425

5629115.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

2,412

2,249

5629132.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

4,221

3,966

5629174.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

4,657

4,442

5629259.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

5,107

4,790

5629347.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

31,838

29,134

5629589.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

53,593

50,246

5629944.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

7,481

6,926

5630013.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

10,536

9,780

5630095.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

9,060

8,446

5630154.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

22,016

20,493

5630312.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

1,666

1,539

5630317.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

7,371

7,033

5630368.SQ.FTS.B,

Zero

Cpn,

1/06/24

...

10,091

9,482

5640805.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

8,745

8,130

5640987.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

6,827

6,411

5641021.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

2,609

2,425

5641031.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

11,999

11,241

5641169.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

5,300

4,993

5641242.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

1,628

1,517

5641263.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

2,203

2,028

5641293.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

3,941

3,664

5641335.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

23,492

21,989

5641683.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

23,465

21,975

5642218.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

1,252

1,203

5642248.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

3,090

2,887

5642357.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

15,205

14,198

5643745.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

28,220

27,080

5644373.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

7,473

6,916

5644578.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

3,072

2,896

5644684.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

1,052

983

5644715.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

9,422

8,929

5644852.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

3,148

2,986

5644959.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

14,519

13,586

5645143.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

39,063

37,262

5645553.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

51,988

48,098

5646025.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

770

712

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5646026.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

$

2,783

$

2,593

5646059.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

6,994

6,672

5646131.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

11,711

10,979

5646297.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

6,429

6,130

5646390.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

9,946

9,433

5646472.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

2,388

2,225

5646485.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

2,629

2,432

5646507.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

17,571

16,502

5646671.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

28,244

26,540

5646926.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

8,504

8,113

5647065.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

21,565

20,188

5647285.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

12,087

11,336

5647379.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

67,877

63,548

5647903.SQ.FTS.B,

Zero

Cpn,

1/07/24

...

13,097

12,259

5648057.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

5,147

4,823

5648195.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

1,791

1,660

5648198.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

9,818

9,283

5648307.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

7,175

6,845

5648368.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

1,788

1,651

5648399.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

4,028

3,843

5648470.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

3,780

3,518

5648529.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

1,696

1,597

5648587.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

10,876

9,914

5648827.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

2,810

2,662

5648872.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

15,712

14,677

5649083.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

4,660

4,417

5649173.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

4,239

3,974

5649270.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

3,128

2,874

5649336.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

1,104

1,033

5649365.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

5,474

5,151

5649531.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

1,960

1,870

5649604.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

6,320

5,909

5649756.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

3,201

2,999

5649897.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

2,218

2,107

5650025.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

4,524

4,279

5650777.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

727

689

5650825.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

19,890

18,623

5651388.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

2,608

2,448

5651436.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

2,297

2,143

5651453.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

13,334

12,711

5651661.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

1,512

1,432

5651700.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

6,587

6,164

5651759.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

2,080

1,945

5651790.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

15,810

15,077

5652002.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

68,036

63,692

5652976.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

2,139

2,031

5652998.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

2,537

2,377

5653044.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

12,505

11,785

5653296.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

7,088

6,759

5653404.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

53,672

50,837

5653938.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

16,443

15,396

5654029.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

5,394

5,068

5654053.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

1,732

1,632

5654059.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

2,151

2,005

5654085.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

73,204

69,811

5654657.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

1,769

1,638

5654663.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

4,001

3,755

5654690.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

16,242

15,237

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

219

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5654848.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

$

26,230

$

24,603

5655178.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

6,702

6,474

5655234.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

4,992

4,657

5655343.SQ.FTS.B,

Zero

Cpn,

1/08/24

...

35,825

33,935

5655494.SQ.FTS.B,

Zero

Cpn,

1/09/24

...

27,061

25,643

5655662.SQ.FTS.B,

Zero

Cpn,

1/09/24

...

1,282

1,198

5655669.SQ.FTS.B,

Zero

Cpn,

1/09/24

...

14,372

13,700

5655794.SQ.FTS.B,

Zero

Cpn,

1/09/24

...

1,334

1,243

5655805.SQ.FTS.B,

Zero

Cpn,

1/09/24

...

17,520

16,409

5655960.SQ.FTS.B,

Zero

Cpn,

1/09/24

...

5,302

4,963

5656001.SQ.FTS.B,

Zero

Cpn,

1/09/24

...

5,540

5,184

5656053.SQ.FTS.B,

Zero

Cpn,

1/09/24

...

19,372

18,178

5656236.SQ.FTS.B,

Zero

Cpn,

1/09/24

...

631

581

5656242.SQ.FTS.B,

Zero

Cpn,

1/09/24

...

1,390

1,317

5656275.SQ.FTS.B,

Zero

Cpn,

1/09/24

...

1,539

1,431

5656284.SQ.FTS.B,

Zero

Cpn,

1/09/24

...

4,261

4,063

5656311.SQ.FTS.B,

Zero

Cpn,

1/10/24

...

478

408

5656317.SQ.FTS.B,

Zero

Cpn,

1/10/24

...

16,555

15,546

5656447.SQ.FTS.B,

Zero

Cpn,

1/10/24

...

6,958

6,537

5656528.SQ.FTS.B,

Zero

Cpn,

1/10/24

...

1,674

1,533

5656538.SQ.FTS.B,

Zero

Cpn,

1/10/24

...

921

863

5656547.SQ.FTS.B,

Zero

Cpn,

1/10/24

...

6,581

6,233

5656603.SQ.FTS.B,

Zero

Cpn,

1/10/24

...

3,121

2,905

5656630.SQ.FTS.B,

Zero

Cpn,

1/10/24

...

1,341

1,254

5656641.SQ.FTS.B,

Zero

Cpn,

1/10/24

...

5,867

5,509

5656701.SQ.FTS.B,

Zero

Cpn,

1/10/24

...

1,044

1,009

5656707.SQ.FTS.B,

Zero

Cpn,

1/10/24

...

7,571

7,219

5656784.SQ.FTS.B,

Zero

Cpn,

1/10/24

...

5,475

5,220

5656842.SQ.FTS.B,

Zero

Cpn,

1/10/24

...

906

849

5656852.SQ.FTS.B,

Zero

Cpn,

1/10/24

...

7,590

7,091

5656922.SQ.FTS.B,

Zero

Cpn,

1/10/24

...

2,482

2,351

5656944.SQ.FTS.B,

Zero

Cpn,

1/10/24

...

2,434

2,265

5656961.SQ.FTS.B,

Zero

Cpn,

1/10/24

...

5,319

5,016

5657026.SQ.FTS.B,

Zero

Cpn,

1/10/24

...

4,950

4,615

5657234.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

5,131

4,797

5657522.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

9,282

8,878

5657983.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

628

595

5658085.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

2,272

2,127

5658195.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

1,377

1,288

5658244.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

3,951

3,697

5658396.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

67,709

64,522

5661432.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

34,300

32,131

5662145.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

5,092

4,825

5662239.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

12,222

11,476

5662477.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

2,838

2,632

5662540.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

30,185

28,329

5662899.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

23,554

21,954

5663384.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

1,852

1,730

5663404.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

5,113

4,817

5663518.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

22,849

21,386

5663738.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

18,424

17,575

5663972.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

2,681

2,504

5664038.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

26,902

24,972

5664516.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

2,708

2,547

5664578.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

12,268

11,416

5664748.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

4,661

4,411

5664801.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

1,206

1,127

5664819.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

4,223

3,943

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5664893.SQ.FTS.B,

Zero

Cpn,

1/11/24

...

$

3,793

$

3,524

5664976.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

2,059

1,914

5665041.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

100,147

95,497

5666815.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

1,056

1,015

5666857.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

85,481

80,057

5668701.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

34,712

32,513

5669228.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

3,950

3,709

5669292.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

2,165

2,027

5669327.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

6,945

6,649

5669438.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

1,421

1,353

5669455.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

14,566

13,641

5669597.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

6,073

5,661

5669673.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

31,319

29,867

5670099.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

3,026

2,803

5670162.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

3,404

3,148

5670219.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

12,237

11,472

5670345.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

26,499

24,888

5670660.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

4,681

4,380

5670749.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

5,949

5,672

5670799.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

30,001

28,430

5671348.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

1,135

1,071

5671382.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

14,245

13,304

5671543.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

21,921

20,765

5671722.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

1,195

1,131

5671745.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

748

698

5671751.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

13,504

12,873

5671861.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

3,224

3,015

5671908.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

6,236

5,810

5671952.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

950

903

5671970.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

7,382

6,992

5672060.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

1,451

1,347

5672062.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

2,203

2,018

5672096.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

29,937

28,038

5672364.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

994

922

5672382.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

1,504

1,420

5672406.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

13,185

12,574

5672563.SQ.FTS.B,

Zero

Cpn,

1/12/24

...

13,856

12,839

5672657.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

2,275

2,110

5672677.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

3,845

3,664

5672716.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

4,615

4,312

5672785.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

2,393

2,223

5672846.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

12,442

11,482

5672982.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

783

738

5672989.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

1,265

1,194

5673019.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

47,753

45,222

5673599.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

13,491

13,177

5673792.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

12,624

11,818

5674055.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

7,561

7,067

5674181.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

11,905

11,077

5674315.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

37,371

35,397

5675202.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

1,764

1,652

5675248.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

2,142

2,019

5675284.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

2,400

2,246

5675344.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

5,380

5,066

5675503.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

19,733

18,661

5675814.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

18,942

17,346

5676023.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

2,350

2,195

5676027.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

4,023

3,757

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

220

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5676048.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

$

1,229

$

1,151

5676063.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

4,207

4,046

5676096.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

1,011

943

5676104.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

55,114

52,558

5676582.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

43,117

40,559

5677005.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

5,045

4,724

5677043.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

6,138

5,772

5677145.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

4,736

4,421

5677211.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

3,579

3,468

5677277.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

6,713

6,359

5677357.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

4,210

4,014

5677400.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

2,151

2,052

5677457.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

4,407

4,133

5677506.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

26,482

25,103

5677712.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

13,647

12,718

5677890.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

5,770

5,502

5677956.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

842

795

5677979.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

7,188

6,718

5678063.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

559

530

5678068.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

5,595

5,210

5678118.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

13,582

12,724

5678289.SQ.FTS.B,

Zero

Cpn,

1/13/24

...

50,491

47,766

5688947.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

11,738

10,993

5689026.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

1,168

1,077

5689040.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

1,000

933

5689054.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

7,805

7,400

5689085.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

10,902

10,210

5689201.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

4,563

4,260

5689219.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

4,181

3,986

5689238.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

11,757

11,126

5689301.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

7,346

7,098

5689463.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

1,096

1,021

5689483.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

27,476

26,103

5689855.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

5,561

5,203

5689977.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

8,301

7,915

5690159.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

19,120

18,225

5690544.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

6,960

6,636

5690880.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

2,179

2,040

5691145.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

2,085

2,031

5691491.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

3,145

2,991

5691656.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

10,346

9,842

5692101.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

1,732

1,606

5692156.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

15,130

14,101

5692567.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

3,159

2,956

5692677.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

14,576

13,803

5692928.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

1,692

1,597

5692948.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

13,262

12,423

5693198.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

38,021

35,602

5693815.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

2,193

2,053

5693867.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

13,513

12,881

5694081.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

5,207

4,866

5694131.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

1,685

1,567

5694138.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

5,325

4,912

5694167.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

14,042

13,457

5694315.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

10,904

10,212

5694392.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

47,810

44,888

5694752.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

108,355

101,771

5695515.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

5,486

5,136

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5695538.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

$

2,215

$

2,094

5695567.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

5,511

5,168

5695625.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

15,350

14,301

5695763.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

7,922

7,438

5695840.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

10,466

9,915

5695899.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

1,605

1,496

5695917.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

16,673

15,653

5696042.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

1,682

1,569

5696063.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

2,268

2,107

5696106.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

3,262

3,109

5696138.SQ.FTS.B,

Zero

Cpn,

1/14/24

...

4,335

4,049

5696224.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

5,480

5,097

5696296.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

7,740

7,377

5696356.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

62,623

59,307

5696984.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

2,660

2,536

5697084.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

21,958

20,558

5697762.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

19,368

18,216

5698518.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

12,299

11,512

5698787.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

6,546

6,108

5698837.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

12,146

11,380

5698962.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

2,181

2,023

5699015.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

2,848

2,697

5699047.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

5,272

4,919

5699120.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

4,786

4,499

5699258.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

10,428

9,981

5699424.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

9,519

9,071

5699542.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

1,446

1,370

5699547.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

10,418

9,744

5699676.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

33,375

31,835

5700003.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

8,899

8,453

5700098.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

2,770

2,624

5700120.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

65,119

61,305

5701004.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

1,683

1,582

5701011.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

668

636

5701023.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

8,701

8,113

5701089.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

47,892

44,871

5701466.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

4,019

3,884

5701479.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

3,499

3,209

5701484.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

1,330

1,260

5701494.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

2,187

2,048

5701510.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

779

742

5701526.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

28,861

27,126

5701712.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

6,165

5,773

5701763.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

3,307

3,093

5701814.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

3,234

3,052

5701826.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

26,614

24,984

5702064.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

4,188

4,007

5702081.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

5,281

5,056

5702108.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

4,778

4,458

5702129.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

7,419

7,043

5702271.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

1,441

1,378

5702276.SQ.FTS.B,

Zero

Cpn,

1/15/24

...

20,211

18,824

5702370.SQ.FTS.B,

Zero

Cpn,

1/16/24

...

4,002

3,768

5702389.SQ.FTS.B,

Zero

Cpn,

1/16/24

...

8,813

8,273

5702449.SQ.FTS.B,

Zero

Cpn,

1/16/24

...

811

750

5702451.SQ.FTS.B,

Zero

Cpn,

1/16/24

...

6,955

6,482

5702497.SQ.FTS.B,

Zero

Cpn,

1/16/24

...

3,806

3,615

5702512.SQ.FTS.B,

Zero

Cpn,

1/16/24

...

5,346

5,020

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

221

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5702533.SQ.FTS.B,

Zero

Cpn,

1/16/24

...

$

9,885

$

9,437

5702573.SQ.FTS.B,

Zero

Cpn,

1/16/24

...

4,606

4,391

5702596.SQ.FTS.B,

Zero

Cpn,

1/16/24

...

2,241

2,092

5702622.SQ.FTS.B,

Zero

Cpn,

1/16/24

...

19,331

18,647

5702710.SQ.FTS.B,

Zero

Cpn,

1/16/24

...

1,014

945

5702715.SQ.FTS.B,

Zero

Cpn,

1/16/24

...

1,242

1,166

5702724.SQ.FTS.B,

Zero

Cpn,

1/16/24

...

3,637

3,466

5702759.SQ.FTS.B,

Zero

Cpn,

1/16/24

...

4,472

4,251

5702779.SQ.FTS.B,

Zero

Cpn,

1/16/24

...

1,881

1,772

5702795.SQ.FTS.B,

Zero

Cpn,

1/16/24

...

10,755

10,148

5702856.SQ.FTS.B,

Zero

Cpn,

1/16/24

...

2,519

2,373

5702869.SQ.FTS.B,

Zero

Cpn,

1/16/24

...

1,913

1,785

5702883.SQ.FTS.B,

Zero

Cpn,

1/16/24

...

33,735

31,597

5703087.SQ.FTS.B,

Zero

Cpn,

1/17/24

...

21,325

20,341

5703208.SQ.FTS.B,

Zero

Cpn,

1/17/24

...

6,101

5,824

5703263.SQ.FTS.B,

Zero

Cpn,

1/17/24

...

2,546

2,384

5703279.SQ.FTS.B,

Zero

Cpn,

1/17/24

...

33,070

30,971

5703449.SQ.FTS.B,

Zero

Cpn,

1/17/24

...

14,846

13,900

5703547.SQ.FTS.B,

Zero

Cpn,

1/17/24

...

1,800

1,687

5703564.SQ.FTS.B,

Zero

Cpn,

1/17/24

...

15,242

14,270

5703677.SQ.FTS.B,

Zero

Cpn,

1/17/24

...

17,460

16,267

5704111.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

11,538

10,999

5704491.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

8,683

8,128

5704871.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

5,014

4,615

5705154.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

3,178

3,019

5705331.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

3,395

3,182

5705458.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

4,779

4,424

5705829.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

1,852

1,703

5705977.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

22,897

21,643

5706520.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

2,906

2,720

5706586.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

3,590

3,368

5706689.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

5,565

5,182

5706863.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

32,602

30,871

5707349.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

22,262

21,085

5707553.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

1,126

1,060

5707577.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

6,199

5,789

5707656.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

2,509

2,360

5707682.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

1,219

1,138

5707697.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

1,427

1,323

5707725.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

963

902

5707738.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

8,388

7,996

5707870.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

18,255

17,099

5708156.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

43,050

41,227

5708970.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

1,795

1,681

5709025.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

11,428

10,723

5709255.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

3,278

3,069

5709283.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

522

496

5709287.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

985

923

5709306.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

20,044

18,770

5709472.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

7,321

7,076

5709586.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

14,990

13,874

5709748.SQ.FTS.B,

Zero

Cpn,

1/18/24

...

21,434

20,064

5710067.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

2,993

2,854

5710105.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

4,144

3,755

5710153.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

3,090

2,890

5710162.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

6,870

6,584

5710290.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

4,465

4,182

5710324.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

15,062

14,114

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5710509.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

$

3,245

$

3,031

5710556.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

30,444

28,830

5711035.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

6,732

6,370

5711147.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

2,831

2,733

5711194.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

5,006

4,774

5711257.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

1,856

1,728

5711265.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

1,494

1,390

5711269.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

8,230

7,588

5711361.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

2,133

2,015

5711380.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

13,246

12,410

5711450.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

13,813

12,703

5711956.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

16,917

15,875

5712494.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

1,805

1,679

5712532.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

5,377

5,011

5712629.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

11,258

10,545

5712879.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

35,381

33,203

5713347.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

2,540

2,406

5713355.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

8,678

8,275

5713451.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

3,439

3,228

5713473.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

1,596

1,499

5713485.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

3,189

2,936

5713547.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

5,203

4,960

5713619.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

13,485

12,771

5713722.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

6,855

6,418

5713763.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

11,890

11,147

5713916.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

24,178

23,036

5714543.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

5,711

5,483

5714621.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

42,967

40,069

5715081.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

4,226

3,958

5715111.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

2,173

2,061

5715122.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

3,291

3,117

5715144.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

1,488

1,390

5715162.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

2,727

2,533

5715210.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

11,006

10,328

5715285.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

2,674

2,544

5715299.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

1,100

1,040

5715310.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

1,993

1,877

5715327.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

11,162

10,480

5715452.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

1,121

1,060

5715479.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

2,251

2,109

5715524.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

3,080

2,936

5715552.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

11,432

10,732

5715747.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

4,938

4,539

5715777.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

790

744

5715788.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

2,059

1,941

5715810.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

27,739

25,898

5716047.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

19,463

18,532

5716127.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

9,146

8,606

5716182.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

1,359

1,297

5716188.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

2,524

2,362

5716208.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

5,105

4,778

5716243.SQ.FTS.B,

Zero

Cpn,

1/19/24

...

4,646

4,381

5716288.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

3,121

2,958

5716367.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

2,741

2,546

5716391.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

8,083

7,705

5716472.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

10,781

10,095

5716599.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

7,655

7,296

5716690.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

5,837

5,512

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

222

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5716775.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

$

8,084

$

7,569

5716838.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

8,083

7,569

5716932.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

52,325

48,822

5718548.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

7,362

6,856

5718675.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

34,435

32,698

5719100.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

6,696

6,234

5719197.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

6,068

5,554

5719299.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

2,242

2,074

5719317.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

3,368

3,148

5719339.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

4,839

4,540

5719379.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

2,210

2,066

5719399.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

72,293

66,987

5719882.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

8,085

7,529

5719922.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

15,355

14,379

5720070.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

2,468

2,337

5720090.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

5,292

4,924

5720094.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

18,070

16,840

5720163.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

7,483

7,134

5720193.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

3,619

3,424

5720195.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

606

576

5720196.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

1,972

1,822

5720202.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

5,469

5,179

5720224.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

1,719

1,633

5720240.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

11,067

10,363

5720363.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

66,093

62,028

5720832.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

25,566

23,939

5720995.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

1,363

1,266

5721008.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

6,691

6,255

5721051.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

3,215

3,102

5721083.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

4,266

3,914

5721125.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

1,896

1,775

5721143.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

3,856

3,628

5721170.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

8,174

7,792

5721214.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

2,408

2,260

5721222.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

1,773

1,660

5721245.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

13,010

12,322

5721335.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

1,144

1,075

5721363.SQ.FTS.B,

Zero

Cpn,

1/20/24

...

78,589

74,908

5726430.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

19,015

18,117

5726589.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

5,797

5,525

5726619.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

29,535

27,563

5726779.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

8,226

7,678

5726825.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

5,500

5,179

5726853.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

1,364

1,264

5726854.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

22,742

21,344

5726983.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

4,164

3,941

5727061.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

16,988

15,909

5727317.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

3,284

3,076

5727387.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

3,213

3,014

5727466.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

3,581

3,388

5727599.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

951

895

5727685.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

11,430

10,892

5727972.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

8,258

7,956

5728093.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

3,489

3,245

5728216.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

3,010

2,817

5728324.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

1,140

1,067

5728331.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

919

878

5728357.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

6,145

5,696

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5728438.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

$

23,498

$

22,050

5728647.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

3,523

3,358

5728678.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

6,533

6,124

5728722.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

11,257

10,561

5728793.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

22,431

21,244

5728950.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

2,294

2,121

5728974.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

49,951

45,697

5729353.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

13,861

13,219

5729412.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

1,001

954

5729426.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

21,832

20,476

5729549.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

16,470

15,456

5729697.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

18,483

17,296

5729796.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

4,574

4,311

5729869.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

2,735

2,566

5729883.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

34,138

32,293

5730149.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

561

530

5730163.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

2,601

2,511

5730177.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

6,229

5,832

5730218.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

4,392

4,157

5730235.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

3,928

3,678

5730254.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

41,088

39,153

5730442.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

14,225

13,437

5730503.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

17,214

16,013

5730586.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

5,138

4,899

5730609.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

2,371

2,205

5730646.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

30,126

28,202

5730781.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

20,109

18,870

5730939.SQ.FTS.B,

Zero

Cpn,

1/21/24

...

16,340

15,300

5731026.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

3,064

2,968

5731062.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

2,372

2,210

5731084.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

3,586

3,394

5731128.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

1,443

1,368

5731156.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

6,991

6,559

5731218.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

3,200

2,978

5731259.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

1,809

1,696

5731269.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

2,728

2,599

5731276.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

1,026

954

5731285.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

1,824

1,697

5731304.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

6,755

6,294

5731347.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

3,483

3,295

5731393.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

5,417

5,218

5731478.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

6,319

6,091

5731561.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

6,931

6,490

5731645.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

3,511

3,287

5731673.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

2,500

2,367

5731706.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

22,513

21,078

5731937.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

44,563

41,808

5732280.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

12,229

11,654

5732373.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

13,484

12,827

5732475.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

1,601

1,524

5732481.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

2,095

1,961

5732514.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

9,456

8,853

5732552.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

15,855

14,846

5732616.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

2,448

2,277

5732627.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

2,158

2,036

5732633.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

1,113

1,042

5732636.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

1,908

1,785

5732640.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

1,427

1,352

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

223

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5732648.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

$

52,378

$

49,033

5733218.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

12,714

12,024

5733263.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

8,759

8,348

5733327.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

58,626

56,695

5733497.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

37,848

35,204

5733698.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

2,945

2,757

5733707.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

4,880

4,603

5733739.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

838

786

5733741.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

3,599

3,369

5733772.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

3,152

2,967

5733782.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

3,892

3,687

5733802.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

22,180

20,996

5733912.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

22,029

20,990

5734003.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

10,739

10,234

5734047.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

6,114

5,788

5734069.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

11,344

10,593

5734143.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

5,301

4,951

5734174.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

841

795

5734181.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

6,556

6,060

5734224.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

3,278

3,059

5734238.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

1,313

1,238

5734242.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

3,153

3,004

5734296.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

5,888

5,574

5734330.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

4,144

3,861

5734375.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

2,446

2,280

5734388.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

17,944

16,764

5734473.SQ.FTS.B,

Zero

Cpn,

1/22/24

...

9,574

9,210

5734600.SQ.FTS.B,

Zero

Cpn,

1/23/24

...

943

890

5734617.SQ.FTS.B,

Zero

Cpn,

1/23/24

...

31,710

29,688

5734815.SQ.FTS.B,

Zero

Cpn,

1/23/24

...

2,896

2,742

5734838.SQ.FTS.B,

Zero

Cpn,

1/23/24

...

2,202

2,099

5734857.SQ.FTS.B,

Zero

Cpn,

1/23/24

...

10,806

10,296

5734945.SQ.FTS.B,

Zero

Cpn,

1/23/24

...

6,580

6,234

5734988.SQ.FTS.B,

Zero

Cpn,

1/23/24

...

8,325

7,951

5735050.SQ.FTS.B,

Zero

Cpn,

1/23/24

...

7,032

6,582

5735100.SQ.FTS.B,

Zero

Cpn,

1/23/24

...

9,006

8,450

5735162.SQ.FTS.B,

Zero

Cpn,

1/23/24

...

9,867

9,233

5735235.SQ.FTS.B,

Zero

Cpn,

1/23/24

...

5,400

5,145

5735270.SQ.FTS.B,

Zero

Cpn,

1/23/24

...

655

623

5735284.SQ.FTS.B,

Zero

Cpn,

1/23/24

...

11,285

10,588

5735375.SQ.FTS.B,

Zero

Cpn,

1/24/24

...

2,039

1,909

5735391.SQ.FTS.B,

Zero

Cpn,

1/24/24

...

16,730

15,542

5735523.SQ.FTS.B,

Zero

Cpn,

1/24/24

...

10,964

10,448

5735604.SQ.FTS.B,

Zero

Cpn,

1/24/24

...

22,927

21,418

5735770.SQ.FTS.B,

Zero

Cpn,

1/24/24

...

2,499

2,382

5735785.SQ.FTS.B,

Zero

Cpn,

1/24/24

...

4,484

4,215

5735817.SQ.FTS.B,

Zero

Cpn,

1/24/24

...

1,081

1,007

5735826.SQ.FTS.B,

Zero

Cpn,

1/24/24

...

4,413

4,205

5735856.SQ.FTS.B,

Zero

Cpn,

1/24/24

...

1,790

1,675

5735868.SQ.FTS.B,

Zero

Cpn,

1/24/24

...

1,836

1,749

5735880.SQ.FTS.B,

Zero

Cpn,

1/24/24

...

4,534

4,305

5735928.SQ.FTS.B,

Zero

Cpn,

1/24/24

...

8,258

7,862

5735998.SQ.FTS.B,

Zero

Cpn,

1/24/24

...

13,824

12,941

5736371.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

6,968

6,468

5736503.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

912

869

5736513.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

4,042

3,796

5736622.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

783

740

5736640.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

6,553

6,245

Description

Principal

Amount

Value

Block,

Inc.

(continued)

5736764.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

$

872

$

840

5736783.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

592

572

5736796.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

4,341

4,055

5736882.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

3,796

3,523

5736990.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

6,062

5,687

5737077.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

2,313

2,165

5737100.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

40,544

37,958

5737494.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

33,577

31,633

5737885.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

20,572

19,571

5738038.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

3,333

3,107

5738077.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

34,693

32,549

5738297.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

9,794

9,166

5738362.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

7,792

7,415

5738410.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

1,528

1,421

5738426.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

1,710

1,601

5738459.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

40,997

38,205

5738787.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

3,515

3,285

5738824.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

42,695

39,973

5739318.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

22,816

21,406

5739486.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

4,904

4,591

5739551.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

5,282

4,940

5739613.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

13,699

12,821

5739710.SQ.FTS.B,

Zero

Cpn,

1/25/24

...

5,776

5,579

5739820.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

2,605

2,438

5739856.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

1,982

1,855

5739896.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

18,333

17,161

5740034.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

3,857

3,675

5740105.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

2,889

2,713

5740154.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

791

740

5740155.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

1,072

1,007

5740188.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

1,601

1,527

5740227.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

5,854

5,483

5740249.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

570

530

5740257.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

3,873

3,657

5740278.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

5,096

4,771

5740316.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

670

636

5740327.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

10,435

9,648

5740425.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

2,322

2,173

5740467.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

1,572

1,484

5740473.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

2,358

2,206

5740508.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

11,272

10,574

5740714.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

3,004

2,862

5740777.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

7,824

7,406

5740899.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

1,477

1,379

5740924.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

5,448

5,077

5740980.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

21,835

20,567

5741173.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

2,271

2,120

5741182.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

796

742

5741185.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

33,908

31,740

5741407.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

3,931

3,721

5741417.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

2,997

2,788

5741433.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

6,430

6,000

5741480.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

1,197

1,113

5741483.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

1,908

1,802

5741493.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

10,766

10,071

5741550.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

3,171

2,968

5741580.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

3,058

2,862

5741606.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

6,008

5,724

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

224

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Block,

Inc.

(continued)

5741655.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

$

33,722

$

31,701

5741860.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

730

689

5741866.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

13,107

12,267

5741942.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

10,892

10,336

5742027.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

1,445

1,378

5742046.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

10,937

10,236

5742127.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

5,862

5,566

5742155.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

3,522

3,297

5742186.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

9,567

9,011

5742238.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

4,839

4,506

5742264.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

4,219

4,028

5742291.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

5,549

5,194

5742317.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

10,920

10,336

5742342.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

2,800

2,650

5742349.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

556

530

5742351.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

4,450

4,240

5742377.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

5,376

5,089

5742408.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

2,836

2,650

5742412.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

6,341

6,043

5742447.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

5,789

5,407

5742480.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

921

869

5742481.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

33,600

31,804

5742630.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

1,593

1,484

5742638.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

35,934

33,713

5742832.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

6,342

5,937

5742894.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

1,597

1,484

5742899.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

3,543

3,392

5742916.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

28,313

26,504

5743075.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

6,342

5,937

5743102.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

1,631

1,527

5743110.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

20,038

18,553

5743234.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

23,363

22,262

5743305.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

798

742

5743308.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

8,441

7,951

5743336.SQ.FTS.B,

Zero

Cpn,

1/26/24

...

3,894

3,710

37,568,656

Freedom

Financial

Asset

Management

LLC

APP-08870804.FP.FTS.B,

16.49%,

4/05/23

5,992

6,033

APP-08924331.FP.FTS.B,

5.99%,

4/13/23

.

3,102

3,126

APP-09046366.FP.FTS.B,

12.49%,

4/24/23

280

280

APP-08932370.FP.FTS.B,

15.49%,

4/29/23

4,895

4,943

APP-09110946.FP.FTS.B,

12.49%,

5/01/23

8,914

8,974

APP-09109841.FP.FTS.B,

13.49%,

5/04/23

4,092

4,121

APP-09239363.FP.FTS.B,

17.49%,

5/07/23

4,480

4,510

APP-08870897.FP.FTS.B,

13.99%,

5/20/23

6,791

6,850

APP-09352030.FP.FTS.B,

13.49%,

5/25/23

5,481

5,535

APP-09290050.FP.FTS.B,

14.49%,

5/25/23

5,104

5,155

APP-08944768.FP.FTS.B,

16.99%,

5/27/23

9,051

9,140

APP-09206091.FP.FTS.B,

17.49%,

5/27/23

19,024

19,247

APP-09012418.FP.FTS.B,

13.49%,

5/28/23

4,098

4,140

APP-08977154.FP.FTS.B,

16.99%,

5/30/23

4,702

2,910

APP-08924362.FP.FTS.B,

19.49%,

5/30/23

7,241

7,297

APP-08932151.FP.FTS.B,

14.49%,

5/31/23

4,102

4,134

APP-08972690.FP.FTS.B,

5.99%,

6/01/23

.

4,317

4,349

APP-08991008.FP.FTS.B,

15.49%,

6/04/23

3,458

3,487

APP-09064938.FP.FTS.B,

16.49%,

6/10/23

7,581

7,651

APP-08969713.FP.FTS.B,

5.99%,

6/15/23

.

4,716

4,753

Description

Principal

Amount

Value

Freedom

Financial

Asset

Management

LLC

(continued)

APP-09109589.FP.FTS.B,

15.49%,

6/16/23

$

6,131

$

6,195

APP-09134649.FP.FTS.B,

15.99%,

6/19/23

18,033

3,822

APP-09731339.FP.FTS.B,

5.99%,

6/25/23

.

5,640

5,694

APP-09377856.FP.FTS.B,

13.99%,

6/29/23

12,298

12,429

APP-09359557.FP.FTS.B,

19.49%,

7/01/23

7,849

7,894

APP-09334776.FP.FTS.B,

15.49%,

7/04/23

6,545

4,067

APP-08419015.FP.FTS.B,

14.49%,

7/06/23

5,841

5,894

APP-09357725.FP.FTS.B,

18.99%,

7/09/23

5,695

5,746

APP-09797126.FP.FTS.B,

5.99%,

7/10/23

.

6,174

6,231

APP-08721759.FP.FTS.B,

16.49%,

7/10/23

4,787

4,831

APP-09208119.FP.FTS.B,

5.99%,

7/11/23

.

3,562

3,594

APP-09280174.FP.FTS.B,

5.99%,

8/10/23

.

4,117

4,155

APP-09771672.FP.FTS.B,

15.99%,

8/12/23

13,699

13,826

APP-09714857.FP.FTS.B,

14.49%,

8/15/23

13,669

13,777

APP-09790599.FP.FTS.B,

14.99%,

8/15/23

16,722

16,869

APP-10247533.FP.FTS.B,

12.99%,

8/19/23

7,083

7,153

APP-09346977.FP.FTS.B,

16.99%,

8/19/23

4,096

4,138

APP-09432889.FP.FTS.B,

15.49%,

8/20/23

6,628

6,693

APP-09726579.FP.FTS.B,

5.99%,

8/21/23

.

4,786

4,836

APP-10246465.FP.FTS.B,

5.99%,

8/21/23

.

5,412

5,471

APP-09697076.FP.FTS.B,

5.99%,

8/23/23

.

4,875

4,927

APP-09954156.FP.FTS.B,

5.99%,

8/23/23

.

3,687

3,714

APP-09776428.FP.FTS.B,

18.49%,

8/26/23

8,364

8,476

APP-10384245.FP.FTS.B,

5.99%,

9/01/23

.

7,086

7,152

APP-10246401.FP.FTS.B,

15.49%,

9/01/23

4,628

4,663

APP-10445458.FP.FTS.B,

5.99%,

9/10/23

.

5,971

6,032

APP-08690959.FP.FTS.B,

5.99%,

9/30/23

.

4,491

4,534

APP-10156714.FP.FTS.B,

5.99%,

10/02/23

6,938

7,007

APP-10678947.FP.FTS.B,

17.49%,

10/02/23

..........................

31,136

31,362

APP-10212295.FP.FTS.B,

18.99%,

10/02/23

..........................

4,777

4,806

APP-10060695.FP.FTS.B,

5.99%,

10/03/23

3,352

3,369

APP-10234320.FP.FTS.B,

17.49%,

10/03/23

..........................

9,585

9,655

APP-10066897.FP.FTS.B,

17.49%,

10/04/23

..........................

11,223

11,313

APP-10205994.FP.FTS.B,

17.99%,

10/04/23

..........................

6,325

6,369

APP-10402441.FP.FTS.B,

5.99%,

10/05/23

4,462

4,506

APP-10769779.FP.FTS.B,

5.99%,

10/09/23

7,868

4,534

APP-10352555.FP.FTS.B,

5.99%,

10/12/23

5,049

5,102

APP-10486503.FP.FTS.B,

5.99%,

10/15/23

4,562

4,611

APP-10503718.FP.FTS.B,

19.99%,

10/16/23

..........................

4,462

4,494

APP-10459604.FP.FTS.B,

16.99%,

10/20/23

..........................

5,215

5,272

APP-10314976.FP.FTS.B,

5.99%,

10/24/23

7,126

7,213

APP-10384916.FP.FTS.B,

5.99%,

10/25/23

5,134

5,198

APP-10400699.FP.FTS.B,

5.99%,

10/25/23

4,979

5,039

APP-10463368.FP.FTS.B,

5.99%,

10/25/23

6,294

6,371

APP-10516972.FP.FTS.B,

5.99%,

10/29/23

3,976

4,022

APP-10566307.FP.FTS.B,

5.99%,

11/04/23

7,745

7,829

APP-10624553.FP.FTS.B,

17.99%,

11/04/23

7,535

7,583

APP-10623835.FP.FTS.B,

16.49%,

11/05/23

7,266

7,316

APP-10682620.FP.FTS.B,

16.49%,

11/07/23

5,836

5,879

APP-11197492.FP.FTS.B,

18.99%,

11/12/23

7,030

7,075

APP-11139483.FP.FTS.B,

5.99%,

11/14/23

5,092

5,151

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

225

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Freedom

Financial

Asset

Management

LLC

(continued)

APP-11312458.FP.FTS.B,

5.99%,

11/17/23

$

10,574

$

1,314

APP-11265301.FP.FTS.B,

14.99%,

11/17/23

15,136

15,313

APP-11139070.FP.FTS.B,

5.99%,

11/18/23

5,656

5,723

APP-11237950.FP.FTS.B,

5.99%,

11/18/23

5,080

5,141

APP-11289548.FP.FTS.B,

19.99%,

11/19/23

17,475

17,559

APP-11300855.FP.FTS.B,

23.99%,

11/19/23

9,898

864

APP-10769596.FP.FTS.B,

5.99%,

11/23/23

4,955

5,016

APP-11194490.FP.FTS.B,

5.99%,

12/20/23

5,387

5,455

APP-11799309.FP.FTS.B,

5.99%,

12/26/23

5,398

5,472

APP-11799486.FP.FTS.B,

5.99%,

12/29/23

6,914

7,007

APP-11314530.FP.FTS.B,

18.49%,

1/01/24

12,749

12,856

APP-10561269.FP.FTS.B,

5.99%,

1/02/24

.

4,956

5,005

APP-11336668.FP.FTS.B,

16.49%,

1/03/24

8,836

8,954

APP-11333513.FP.FTS.B,

5.99%,

1/07/24

.

5,699

5,769

APP-11361502.FP.FTS.B,

5.99%,

1/07/24

.

8,667

8,774

APP-11306679.FP.FTS.B,

5.99%,

1/08/24

.

5,694

5,762

APP-11333236.FP.FTS.B,

13.49%,

1/08/24

25,908

26,273

APP-11376511.FP.FTS.B,

17.99%,

1/08/24

8,253

8,332

APP-11341001.FP.FTS.B,

5.99%,

1/09/24

.

8,533

8,631

APP-11923967.FP.FTS.B,

13.74%,

1/15/24

10,698

10,810

APP-12227981.FP.FTS.B,

19.49%,

1/15/24

19,440

19,558

APP-12263510.FP.FTS.B,

5.99%,

1/20/24

.

7,595

7,697

APP-12017416.FP.FTS.B,

5.99%,

1/25/24

.

5,704

5,785

APP-12187185.FP.FTS.B,

5.99%,

1/25/24

.

7,438

7,544

APP-09046319.FP.FTS.B,

18.99%,

2/01/24

5,888

5,916

APP-11810724.FP.FTS.B,

18.99%,

2/01/24

6,313

6,343

APP-11804310.FP.FTS.B,

15.49%,

2/03/24

5,465

5,524

APP-11799399.FP.FTS.B,

5.99%,

2/07/24

.

3,217

3,230

APP-11799474.FP.FTS.B,

5.99%,

2/07/24

.

7,626

7,725

APP-11791795.FP.FTS.B,

13.99%,

2/10/24

20,543

20,843

APP-11781355.FP.FTS.B,

5.99%,

2/11/24

.

7,630

7,734

APP-11799086.FP.FTS.B,

5.99%,

2/11/24

.

7,828

7,935

APP-11755374.FP.FTS.B,

5.99%,

2/12/24

.

4,453

4,486

APP-11821370.FP.FTS.B,

5.99%,

2/12/24

.

8,835

8,955

APP-12119669.FP.FTS.B,

5.99%,

3/01/24

.

7,188

7,281

APP-12135614.FP.FTS.B,

18.99%,

3/01/24

8,232

8,281

APP-11237608.FP.FTS.B,

5.99%,

3/10/24

.

8,637

8,757

APP-12050162.FP.FTS.B,

5.99%,

3/13/24

.

9,404

9,555

APP-08959542.FP.FTS.B,

17.99%,

4/10/24

7,450

7,449

APP-07979930.FP.FTS.B,

12.49%,

4/15/24

16,308

16,459

APP-09009021.FP.FTS.B,

12.49%,

4/15/24

11,130

11,223

APP-08930507.FP.FTS.B,

16.99%,

4/15/24

24,071

2,841

APP-08959438.FP.FTS.B,

25.49%,

4/15/24

9,964

9,813

APP-08978477.FP.FTS.B,

18.99%,

4/16/24

17,818

17,871

APP-08990977.FP.FTS.B,

17.49%,

4/20/24

8,911

8,986

APP-09046413.FP.FTS.B,

12.49%,

4/23/24

17,270

17,414

APP-08924428.FP.FTS.B,

14.49%,

4/25/24

8,350

8,415

APP-08726790.FP.FTS.B,

14.49%,

4/30/24

7,823

7,837

APP-09087474.FP.FTS.B,

22.99%,

4/30/24

5,156

5,073

APP-09069437.FP.FTS.B,

25.49%,

4/30/24

8,308

8,122

APP-08719026.FP.FTS.B,

12.49%,

5/05/24

11,397

11,501

APP-08964838.FP.FTS.B,

19.49%,

5/16/24

10,219

–

APP-08978867.FP.FTS.B,

14.49%,

5/17/24

16,255

16,394

APP-09367838.FP.FTS.B,

17.99%,

5/20/24

5,330

5,358

APP-08969780.FP.FTS.B,

14.49%,

5/21/24

15,105

15,256

APP-09010058.FP.FTS.B,

23.49%,

5/21/24

18,570

–

APP-09299774.FP.FTS.B,

23.49%,

5/21/24

7,479

2,722

APP-09021781.FP.FTS.B,

12.99%,

5/22/24

19,918

20,118

Description

Principal

Amount

Value

Freedom

Financial

Asset

Management

LLC

(continued)

APP-08991130.FP.FTS.B,

15.99%,

5/22/24

$

6,740

$

6,797

APP-09013460.FP.FTS.B,

25.49%,

5/22/24

14,234

14,143

APP-08870794.FP.FTS.B,

16.49%,

5/23/24

12,461

12,580

APP-08961356.FP.FTS.B,

22.49%,

5/29/24

7,332

7,238

APP-08925461.FP.FTS.B,

17.99%,

5/31/24

7,231

7,201

APP-08978593.FP.FTS.B,

23.49%,

6/06/24

7,031

6,908

APP-09051644.FP.FTS.B,

23.49%,

6/10/24

10,236

10,065

APP-09106908.FP.FTS.B,

23.49%,

6/11/24

10,821

10,649

APP-09086628.FP.FTS.B,

16.99%,

6/15/24

7,386

7,391

APP-09045266.FP.FTS.B,

14.49%,

6/17/24

12,632

12,769

APP-08969775.FP.FTS.B,

12.99%,

6/21/24

21,330

21,546

APP-09356525.FP.FTS.B,

18.99%,

6/27/24

7,177

7,203

APP-09353776.FP.FTS.B,

21.99%,

6/27/24

16,183

3,696

APP-09302720.FP.FTS.B,

22.49%,

6/30/24

5,625

5,543

APP-09583612.FP.FTS.B,

15.24%,

7/01/24

12,814

12,865

APP-09354267.FP.FTS.B,

17.49%,

7/01/24

10,685

10,752

APP-09031376.FP.FTS.B,

14.49%,

7/03/24

13,319

13,430

APP-09302940.FP.FTS.B,

17.99%,

7/03/24

11,974

11,928

APP-09331237.FP.FTS.B,

16.49%,

7/05/24

7,309

7,361

APP-09430684.FP.FTS.B,

23.49%,

7/05/24

8,539

8,372

APP-09776186.FP.FTS.B,

12.24%,

7/06/24

13,105

13,220

APP-09345495.FP.FTS.B,

23.49%,

7/08/24

11,235

11,076

APP-09726629.FP.FTS.B,

12.24%,

7/09/24

13,445

13,559

APP-09729717.FP.FTS.B,

13.74%,

7/09/24

22,114

22,268

APP-09341214.FP.FTS.B,

21.49%,

7/10/24

18,174

17,912

APP-09343576.FP.FTS.B,

23.49%,

7/10/24

10,910

10,742

APP-09313598.FP.FTS.B,

12.99%,

7/12/24

7,774

7,856

APP-09371181.FP.FTS.B,

18.99%,

7/13/24

18,064

–

APP-09058563.FP.FTS.B,

17.49%,

7/15/24

12,331

3,878

APP-09140080.FP.FTS.B,

16.49%,

7/16/24

8,575

8,665

APP-09278781.FP.FTS.B,

25.49%,

7/16/24

7,089

6,998

APP-08573519.FP.FTS.B,

14.49%,

7/19/24

22,484

22,722

APP-12243834.FP.FTS.B,

18.49%,

7/27/24

5,555

5,574

APP-09726602.FP.FTS.B,

17.49%,

8/12/24

12,591

12,430

APP-09799095.FP.FTS.B,

19.99%,

8/12/24

5,473

5,455

APP-09799610.FP.FTS.B,

21.99%,

8/12/24

13,125

12,931

APP-09798364.FP.FTS.B,

25.49%,

8/12/24

7,821

–

APP-10258442.FP.FTS.B,

10.49%,

8/15/24

12,127

12,238

APP-09776505.FP.FTS.B,

12.24%,

8/15/24

9,737

9,835

APP-10159829.FP.FTS.B,

15.49%,

8/15/24

10,346

10,405

APP-09623238.FP.FTS.B,

14.24%,

8/17/24

9,309

9,385

APP-10254713.FP.FTS.B,

19.99%,

8/17/24

7,500

7,484

APP-10227214.FP.FTS.B,

21.99%,

8/17/24

16,612

16,420

APP-09791798.FP.FTS.B,

14.99%,

8/18/24

29,147

29,388

APP-09726552.FP.FTS.B,

12.24%,

8/20/24

9,247

9,342

APP-09726592.FP.FTS.B,

12.24%,

8/20/24

17,691

17,890

APP-09726689.FP.FTS.B,

15.99%,

8/20/24

11,962

12,071

APP-09786718.FP.FTS.B,

21.49%,

8/20/24

7,696

7,655

APP-10228488.FP.FTS.B,

23.99%,

8/20/24

14,495

14,352

APP-10203850.FP.FTS.B,

10.49%,

8/21/24

17,246

17,427

APP-09647997.FP.FTS.B,

19.99%,

8/21/24

6,018

6,031

APP-09697044.FP.FTS.B,

13.99%,

8/22/24

33,826

34,243

APP-09784264.FP.FTS.B,

16.49%,

8/22/24

10,687

10,735

APP-09717670.FP.FTS.B,

18.49%,

8/23/24

9,611

9,618

APP-09708878.FP.FTS.B,

15.49%,

8/24/24

5,418

5,483

APP-09785921.FP.FTS.B,

17.49%,

8/24/24

31,208

31,362

APP-09808886.FP.FTS.B,

19.99%,

8/24/24

6,865

6,879

APP-09726492.FP.FTS.B,

12.24%,

8/25/24

11,774

11,925

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

226

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Freedom

Financial

Asset

Management

LLC

(continued)

APP-10170132.FP.FTS.B,

10.49%,

9/01/24

$

17,957

$

18,091

APP-10379461.FP.FTS.B,

10.49%,

9/02/24

18,136

18,286

APP-10459273.FP.FTS.B,

15.99%,

9/03/24

15,036

14,965

APP-10365078.FP.FTS.B,

17.99%,

9/07/24

23,375

7,563

APP-10452029.FP.FTS.B,

21.99%,

9/11/24

18,733

–

APP-10513603.FP.FTS.B,

23.99%,

9/19/24

12,042

11,912

APP-10204385.FP.FTS.B,

14.49%,

9/20/24

12,489

12,479

APP-09939798.FP.FTS.B,

17.99%,

9/23/24

8,958

8,992

APP-10201551.FP.FTS.B,

20.49%,

9/24/24

10,577

10,511

APP-09776493.FP.FTS.B,

10.49%,

9/25/24

13,310

13,448

APP-10432773.FP.FTS.B,

16.99%,

9/30/24

7,613

7,645

APP-10177953.FP.FTS.B,

17.99%,

9/30/24

12,407

12,353

APP-10148177.FP.FTS.B,

14.99%,

10/01/24

..........................

15,373

15,344

APP-10170358.FP.FTS.B,

15.49%,

10/01/24

..........................

26,868

26,808

APP-10269102.FP.FTS.B,

25.49%,

10/01/24

..........................

9,130

884

APP-10101337.FP.FTS.B,

11.99%,

10/02/24

34,472

34,864

APP-10170244.FP.FTS.B,

13.24%,

10/02/24

..........................

28,466

28,750

APP-10624388.FP.FTS.B,

15.49%,

10/02/24

..........................

5,927

5,969

APP-10687787.FP.FTS.B,

23.99%,

10/02/24

..........................

6,078

5,948

APP-10237773.FP.FTS.B,

11.99%,

10/03/24

37,696

38,084

APP-10135528.FP.FTS.B,

10.49%,

10/04/24

..........................

14,413

14,563

APP-09776210.FP.FTS.B,

13.49%,

10/04/24

..........................

22,196

22,158

APP-10060644.FP.FTS.B,

13.99%,

10/04/24

..........................

35,753

36,085

APP-10314863.FP.FTS.B,

17.49%,

10/04/24

..........................

9,655

9,598

APP-10195787.FP.FTS.B,

25.49%,

10/04/24

..........................

8,447

8,258

APP-10402043.FP.FTS.B,

17.99%,

10/05/24

..........................

18,313

18,081

APP-10158725.FP.FTS.B,

25.49%,

10/05/24

..........................

8,500

–

APP-10396556.FP.FTS.B,

25.49%,

10/05/24

..........................

7,987

7,813

APP-10268200.FP.FTS.B,

10.49%,

10/07/24

..........................

11,036

11,143

APP-10268822.FP.FTS.B,

16.99%,

10/08/24

..........................

7,657

7,729

APP-10481124.FP.FTS.B,

12.74%,

10/12/24

17,444

17,593

APP-10479777.FP.FTS.B,

17.49%,

10/12/24

..........................

10,347

10,255

APP-10435915.FP.FTS.B,

19.99%,

10/12/24

..........................

41,193

40,717

APP-10431143.FP.FTS.B,

17.99%,

10/15/24

13,223

13,216

APP-10446303.FP.FTS.B,

19.99%,

10/15/24

..........................

41,367

13,997

APP-10135442.FP.FTS.B,

10.99%,

10/16/24

..........................

24,978

25,270

APP-10372817.FP.FTS.B,

15.49%,

10/17/24

..........................

12,542

12,668

Description

Principal

Amount

Value

Freedom

Financial

Asset

Management

LLC

(continued)

APP-10385640.FP.FTS.B,

23.99%,

10/17/24

..........................

$

6,402

$

6,346

APP-10314505.FP.FTS.B,

23.99%,

10/18/24

..........................

9,681

9,554

APP-10451908.FP.FTS.B,

11.99%,

10/20/24

37,964

38,418

APP-10517288.FP.FTS.B,

18.49%,

10/20/24

..........................

19,432

19,302

APP-10440732.FP.FTS.B,

23.99%,

10/20/24

..........................

13,663

–

APP-10460288.FP.FTS.B,

25.49%,

10/20/24

..........................

8,237

8,143

APP-10572212.FP.FTS.B,

25.49%,

10/21/24

..........................

9,000

–

APP-10333533.FP.FTS.B,

15.99%,

10/22/24

..........................

30,886

31,017

APP-10444462.FP.FTS.B,

8.49%,

10/23/24

23,197

23,482

APP-10464177.FP.FTS.B,

16.49%,

10/24/24

..........................

12,675

12,740

APP-10060529.FP.FTS.B,

10.49%,

10/25/24

..........................

12,406

12,569

APP-10440863.FP.FTS.B,

25.49%,

10/25/24

..........................

7,030

2,553

APP-10314676.FP.FTS.B,

12.74%,

10/26/24

..........................

16,532

16,742

APP-10400698.FP.FTS.B,

12.74%,

10/26/24

..........................

15,654

15,853

APP-10520539.FP.FTS.B,

10.49%,

10/29/24

..........................

11,546

11,709

APP-10459518.FP.FTS.B,

15.49%,

10/29/24

..........................

19,396

19,378

APP-10566736.FP.FTS.B,

16.49%,

11/04/24

12,392

12,395

APP-10693186.FP.FTS.B,

10.49%,

11/10/24

13,645

13,795

APP-11194733.FP.FTS.B,

8.99%,

11/11/24

28,958

29,260

APP-10096028.FP.FTS.B,

9.99%,

11/14/24

35,766

36,195

APP-11333295.FP.FTS.B,

8.49%,

11/15/24

10,776

10,892

APP-10688393.FP.FTS.B,

12.74%,

11/15/24

17,739

17,939

APP-11394308.FP.FTS.B,

14.49%,

11/15/24

16,779

16,899

APP-11394558.FP.FTS.B,

14.99%,

11/15/24

16,673

16,724

APP-11334236.FP.FTS.B,

15.99%,

11/15/24

17,374

17,224

APP-11280007.FP.FTS.B,

17.99%,

11/15/24

6,520

6,530

APP-11313930.FP.FTS.B,

25.49%,

11/15/24

8,340

8,240

APP-11333515.FP.FTS.B,

16.49%,

11/16/24

12,026

12,056

APP-10683469.FP.FTS.B,

23.99%,

11/16/24

16,424

16,199

APP-11307681.FP.FTS.B,

25.49%,

11/16/24

6,632

6,556

APP-10670881.FP.FTS.B,

10.24%,

11/17/24

10,551

10,665

APP-11237920.FP.FTS.B,

17.99%,

11/17/24

8,576

8,576

APP-11288220.FP.FTS.B,

19.99%,

11/18/24

9,820

–

APP-10400857.FP.FTS.B,

12.74%,

11/20/24

19,975

20,214

APP-10657504.FP.FTS.B,

14.99%,

11/22/24

27,807

27,897

APP-10670754.FP.FTS.B,

17.99%,

11/22/24

21,441

21,477

APP-11283774.FP.FTS.B,

8.49%,

11/25/24

13,426

13,573

APP-11333230.FP.FTS.B,

12.49%,

11/25/24

22,818

23,067

APP-11382302.FP.FTS.B,

16.99%,

11/25/24

8,864

8,959

APP-11304026.FP.FTS.B,

25.49%,

11/25/24

11,054

1,305

APP-11799510.FP.FTS.B,

16.99%,

12/15/24

8,356

8,410

APP-11194500.FP.FTS.B,

10.49%,

12/20/24

19,586

19,831

APP-11316386.FP.FTS.B,

13.49%,

12/20/24

12,573

12,703

APP-11319377.FP.FTS.B,

25.49%,

12/20/24

8,380

8,311

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

227

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Freedom

Financial

Asset

Management

LLC

(continued)

APP-11793984.FP.FTS.B,

25.49%,

12/20/24

$

8,521

$

8,458

APP-11799271.FP.FTS.B,

14.99%,

12/21/24

17,799

17,848

APP-11383917.FP.FTS.B,

12.74%,

12/26/24

12,944

13,102

APP-11393790.FP.FTS.B,

25.49%,

12/26/24

9,254

971

APP-11781212.FP.FTS.B,

18.99%,

12/27/24

11,206

11,248

APP-11045167.FP.FTS.B,

10.49%,

12/28/24

12,869

13,044

APP-11388022.FP.FTS.B,

19.99%,

12/28/24

8,248

8,273

APP-11400033.FP.FTS.B,

21.49%,

12/28/24

6,210

6,208

APP-11802632.FP.FTS.B,

9.74%,

12/29/24

10,233

10,382

APP-11792334.FP.FTS.B,

13.24%,

12/29/24

50,000

–

APP-11314678.FP.FTS.B,

15.49%,

12/31/24

11,198

11,282

APP-10762908.FP.FTS.B,

17.99%,

12/31/24

..........................

20,614

20,525

APP-11297354.FP.FTS.B,

8.49%,

1/01/25

.

11,504

11,644

APP-09861136.FP.FTS.B,

10.49%,

1/01/25

16,635

16,831

APP-11194436.FP.FTS.B,

15.99%,

1/01/25

24,921

24,817

APP-11299692.FP.FTS.B,

23.99%,

1/01/25

22,279

21,870

APP-11022117.FP.FTS.B,

8.49%,

1/02/25

.

13,378

13,540

APP-10773207.FP.FTS.B,

10.49%,

1/02/25

13,717

13,891

APP-11237990.FP.FTS.B,

10.74%,

1/02/25

16,101

16,273

APP-11333266.FP.FTS.B,

15.49%,

1/02/25

10,142

10,114

APP-11022245.FP.FTS.B,

15.99%,

1/02/25

15,793

15,760

APP-11307931.FP.FTS.B,

21.99%,

1/02/25

12,152

7,849

APP-10624639.FP.FTS.B,

10.49%,

1/03/25

20,749

21,017

APP-11139518.FP.FTS.B,

12.74%,

1/03/25

16,826

17,050

APP-11265704.FP.FTS.B,

13.99%,

1/03/25

31,910

31,958

APP-11187320.FP.FTS.B,

14.99%,

1/03/25

17,618

17,626

APP-11216238.FP.FTS.B,

16.99%,

1/03/25

9,256

9,236

APP-11382734.FP.FTS.B,

23.49%,

1/04/25

9,904

9,736

APP-11400433.FP.FTS.B,

15.49%,

1/06/25

10,509

10,620

APP-11320650.FP.FTS.B,

23.99%,

1/06/25

12,957

12,756

APP-11373259.FP.FTS.B,

14.99%,

1/07/25

28,254

28,261

APP-11333496.FP.FTS.B,

18.99%,

1/07/25

7,591

7,600

APP-11388172.FP.FTS.B,

25.49%,

1/07/25

7,442

1,639

APP-09356867.FP.FTS.B,

9.99%,

1/08/25

.

40,792

41,329

APP-11398498.FP.FTS.B,

19.49%,

1/08/25

32,382

20,301

APP-11062102.FP.FTS.B,

19.99%,

1/08/25

17,121

16,895

APP-11393301.FP.FTS.B,

21.99%,

1/08/25

21,516

21,202

APP-11396060.FP.FTS.B,

23.99%,

1/08/25

11,883

1,278

APP-11389002.FP.FTS.B,

17.99%,

1/09/25

6,387

6,416

APP-11319269.FP.FTS.B,

21.99%,

1/09/25

17,394

11,284

APP-11694688.FP.FTS.B,

18.99%,

1/12/25

10,374

10,388

APP-12194196.FP.FTS.B,

13.24%,

1/16/25

42,738

43,127

APP-12248763.FP.FTS.B,

7.74%,

1/17/25

.

11,210

11,350

APP-12251612.FP.FTS.B,

17.49%,

1/17/25

11,327

11,359

APP-09868557.FP.FTS.B,

11.99%,

1/20/25

16,636

16,829

APP-12106244.FP.FTS.B,

18.99%,

1/22/25

11,229

11,240

APP-12139687.FP.FTS.B,

11.74%,

1/23/25

33,679

34,102

APP-12017001.FP.FTS.B,

9.74%,

1/24/25

.

15,016

15,220

APP-12207671.FP.FTS.B,

16.99%,

1/25/25

8,627

8,713

APP-12251223.FP.FTS.B,

23.99%,

1/27/25

9,377

9,347

APP-12266979.FP.FTS.B,

11.74%,

1/28/25

19,669

19,921

APP-12269383.FP.FTS.B,

25.49%,

1/28/25

9,597

2,268

APP-11323523.FP.FTS.B,

23.99%,

1/30/25

9,091

6,877

APP-11803536.FP.FTS.B,

13.99%,

2/01/25

24,826

25,059

APP-11792552.FP.FTS.B,

17.49%,

2/01/25

24,170

24,100

APP-11694342.FP.FTS.B,

7.74%,

2/02/25

.

9,913

9,982

APP-11799504.FP.FTS.B,

9.74%,

2/05/25

.

10,870

11,008

Description

Principal

Amount

Value

Freedom

Financial

Asset

Management

LLC

(continued)

APP-11806647.FP.FTS.B,

23.99%,

2/10/25

$

11,341

$

7,411

APP-11821456.FP.FTS.B,

23.74%,

2/11/25

23,163

15,144

APP-11799282.FP.FTS.B,

9.74%,

2/12/25

.

14,390

14,594

APP-11767460.FP.FTS.B,

13.74%,

2/12/25

26,871

27,215

APP-11594848.FP.FTS.B,

14.99%,

2/12/25

18,861

18,885

APP-11803668.FP.FTS.B,

23.99%,

2/13/25

10,653

10,564

APP-11370104.FP.FTS.B,

15.99%,

2/28/25

17,873

17,955

APP-12227846.FP.FTS.B,

9.49%,

3/01/25

.

20,693

20,940

APP-12223360.FP.FTS.B,

15.74%,

3/01/25

31,110

31,151

APP-12257518.FP.FTS.B,

18.99%,

3/01/25

12,510

12,432

APP-11946510.FP.FTS.B,

12.74%,

3/04/25

9,519

9,655

APP-08749214.FP.FTS.B,

20.49%,

3/05/25

10,350

10,433

APP-12244086.FP.FTS.B,

15.49%,

3/11/25

20,742

20,693

APP-12119651.FP.FTS.B,

8.99%,

3/12/25

.

26,764

27,173

APP-12139540.FP.FTS.B,

9.99%,

3/12/25

.

13,194

13,384

APP-08503046.FP.FTS.B,

12.99%,

3/12/25

24,684

24,964

APP-11946706.FP.FTS.B,

14.49%,

3/12/25

14,701

14,811

APP-12131559.FP.FTS.B,

23.99%,

3/12/25

12,942

12,862

APP-12239890.FP.FTS.B,

23.99%,

3/12/25

10,712

10,662

APP-12246852.FP.FTS.B,

23.99%,

3/12/25

15,103

15,008

APP-10005462.FP.FTS.B,

9.74%,

3/13/25

.

12,897

13,102

APP-12139811.FP.FTS.B,

11.74%,

3/13/25

26,708

27,088

APP-12216739.FP.FTS.B,

16.99%,

3/13/25

18,438

18,517

APP-12226590.FP.FTS.B,

23.99%,

3/13/25

15,335

3,449

APP-08957136.FP.FTS.B,

14.99%,

4/15/25

22,359

22,637

APP-08966993.FP.FTS.B,

14.99%,

4/15/25

18,352

3,381

APP-08939051.FP.FTS.B,

20.49%,

4/15/25

8,029

2,493

APP-08980006.FP.FTS.B,

16.49%,

4/17/25

9,942

10,073

APP-09004196.FP.FTS.B,

20.99%,

4/20/25

26,609

–

APP-09058670.FP.FTS.B,

16.49%,

4/27/25

7,534

7,652

APP-08944850.FP.FTS.B,

18.49%,

5/02/25

12,449

12,570

APP-08690045.FP.FTS.B,

19.49%,

5/03/25

6,360

634

APP-09302675.FP.FTS.B,

15.99%,

5/14/25

9,687

9,773

APP-09216358.FP.FTS.B,

14.99%,

5/16/25

34,640

34,978

APP-08970788.FP.FTS.B,

17.49%,

5/16/25

8,117

8,223

APP-08976296.FP.FTS.B,

18.49%,

5/17/25

10,115

10,250

APP-09335187.FP.FTS.B,

16.99%,

5/20/25

10,278

10,427

APP-09333383.FP.FTS.B,

18.49%,

5/20/25

21,447

2,673

APP-08870796.FP.FTS.B,

19.49%,

5/23/25

6,972

7,077

APP-09018162.FP.FTS.B,

20.49%,

5/25/25

14,330

1,459

APP-08914897.FP.FTS.B,

12.99%,

5/29/25

14,949

15,169

APP-08967293.FP.FTS.B,

17.49%,

5/29/25

15,674

15,835

APP-08991009.FP.FTS.B,

16.49%,

5/30/25

11,597

11,735

APP-09071487.FP.FTS.B,

16.99%,

5/30/25

15,499

15,684

APP-09045732.FP.FTS.B,

22.49%,

5/30/25

15,937

15,987

APP-08928822.FP.FTS.B,

14.99%,

5/31/25

23,146

23,480

APP-09014884.FP.FTS.B,

14.99%,

5/31/25

31,781

32,232

APP-09231496.FP.FTS.B,

14.99%,

6/01/25

39,103

39,530

APP-08988851.FP.FTS.B,

16.99%,

6/01/25

40,507

41,172

APP-08969790.FP.FTS.B,

20.49%,

6/03/25

7,472

645

APP-09029616.FP.FTS.B,

21.49%,

6/03/25

6,836

6,869

APP-08980050.FP.FTS.B,

14.99%,

6/04/25

20,096

20,406

APP-09023075.FP.FTS.B,

14.99%,

6/05/25

19,338

19,634

APP-09114468.FP.FTS.B,

16.49%,

6/05/25

11,624

11,752

APP-08991172.FP.FTS.B,

17.49%,

6/05/25

5,919

6,005

APP-09036276.FP.FTS.B,

18.99%,

6/05/25

31,587

32,045

APP-09134525.FP.FTS.B,

19.99%,

6/05/25

21,986

22,100

APP-09045917.FP.FTS.B,

18.99%,

6/11/25

26,011

26,288

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

228

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Freedom

Financial

Asset

Management

LLC

(continued)

APP-08847466.FP.FTS.B,

20.49%,

6/11/25

$

12,953

$

13,089

APP-09076478.FP.FTS.B,

20.49%,

6/13/25

19,919

20,137

APP-09106073.FP.FTS.B,

19.99%,

6/14/25

8,171

8,262

APP-09130603.FP.FTS.B,

12.99%,

6/15/25

15,277

15,501

APP-09012739.FP.FTS.B,

14.49%,

6/15/25

10,368

10,528

APP-09080306.FP.FTS.B,

14.99%,

6/15/25

9,897

–

APP-09100537.FP.FTS.B,

17.99%,

6/15/25

10,210

10,368

APP-09130807.FP.FTS.B,

14.99%,

6/16/25

16,268

16,491

APP-09046414.FP.FTS.B,

14.99%,

6/23/25

26,952

27,360

APP-09262014.FP.FTS.B,

14.99%,

6/27/25

18,412

18,689

APP-09352017.FP.FTS.B,

16.99%,

6/27/25

7,745

7,861

APP-09350950.FP.FTS.B,

22.99%,

6/27/25

20,686

21,002

APP-09286902.FP.FTS.B,

16.99%,

7/05/25

22,232

22,508

APP-09302995.FP.FTS.B,

14.99%,

7/10/25

8,755

8,896

APP-09352779.FP.FTS.B,

18.49%,

7/10/25

7,350

7,469

APP-09375788.FP.FTS.B,

18.49%,

7/10/25

8,024

8,096

APP-09302908.FP.FTS.B,

19.99%,

7/10/25

10,446

10,570

APP-09348109.FP.FTS.B,

18.49%,

7/11/25

7,133

7,218

APP-09354577.FP.FTS.B,

18.49%,

7/11/25

16,115

16,383

APP-09355200.FP.FTS.B,

14.99%,

7/17/25

31,587

32,067

APP-09428299.FP.FTS.B,

17.99%,

7/19/25

29,443

29,831

APP-09791926.FP.FTS.B,

19.49%,

7/28/25

7,283

7,358

APP-09765452.FP.FTS.B,

16.49%,

8/08/25

13,696

13,798

APP-09751288.FP.FTS.B,

14.49%,

8/09/25

15,884

16,023

APP-09717803.FP.FTS.B,

18.49%,

8/10/25

8,049

8,137

APP-09678825.FP.FTS.B,

23.99%,

8/10/25

8,670

8,695

APP-10142907.FP.FTS.B,

14.99%,

8/12/25

39,727

40,175

APP-09813384.FP.FTS.B,

12.74%,

8/13/25

19,533

19,791

APP-09797956.FP.FTS.B,

14.74%,

8/13/25

13,635

13,810

APP-09787784.FP.FTS.B,

13.99%,

8/15/25

6,402

6,489

APP-09659731.FP.FTS.B,

14.24%,

8/15/25

33,113

33,563

APP-10244874.FP.FTS.B,

10.99%,

8/16/25

19,608

19,824

APP-10272295.FP.FTS.B,

13.24%,

8/16/25

13,437

13,597

APP-10203250.FP.FTS.B,

13.24%,

8/17/25

14,659

14,861

APP-10196365.FP.FTS.B,

16.99%,

8/17/25

41,289

41,827

APP-10241015.FP.FTS.B,

12.49%,

8/18/25

34,044

34,470

APP-10214931.FP.FTS.B,

15.99%,

8/19/25

32,835

33,234

APP-10213640.FP.FTS.B,

10.99%,

8/21/25

12,826

12,981

APP-10241637.FP.FTS.B,

14.49%,

8/21/25

40,889

41,427

APP-10141430.FP.FTS.B,

18.99%,

8/21/25

16,608

16,746

APP-09634185.FP.FTS.B,

16.49%,

8/22/25

22,318

22,599

APP-09775671.FP.FTS.B,

18.49%,

8/23/25

16,476

16,691

APP-09799751.FP.FTS.B,

15.99%,

8/24/25

24,607

25,009

APP-09789796.FP.FTS.B,

17.99%,

8/24/25

21,843

22,123

APP-09776164.FP.FTS.B,

15.99%,

8/25/25

10,075

10,244

APP-09799471.FP.FTS.B,

16.49%,

8/25/25

20,983

–

APP-09786759.FP.FTS.B,

21.99%,

8/26/25

14,827

3,286

APP-09813593.FP.FTS.B,

17.99%,

8/27/25

25,267

–

APP-10479148.FP.FTS.B,

18.99%,

9/02/25

23,483

23,476

APP-10450365.FP.FTS.B,

10.99%,

9/03/25

14,806

14,965

APP-10476920.FP.FTS.B,

8.99%,

9/06/25

.

16,769

16,971

APP-10400942.FP.FTS.B,

10.99%,

9/10/25

12,513

12,671

APP-10373851.FP.FTS.B,

10.99%,

9/11/25

10,429

10,482

APP-10444335.FP.FTS.B,

11.49%,

9/11/25

32,924

33,337

APP-10510050.FP.FTS.B,

16.99%,

9/18/25

12,283

12,391

APP-10561719.FP.FTS.B,

12.74%,

9/20/25

10,183

10,325

APP-10432695.FP.FTS.B,

16.99%,

9/20/25

42,319

42,796

APP-10156735.FP.FTS.B,

16.49%,

9/23/25

22,268

22,534

Description

Principal

Amount

Value

Freedom

Financial

Asset

Management

LLC

(continued)

APP-10247786.FP.FTS.B,

16.99%,

9/23/25

$

22,000

$

–

APP-10602597.FP.FTS.B,

19.49%,

9/24/25

32,148

6,665

APP-10561277.FP.FTS.B,

19.49%,

9/25/25

21,068

21,222

APP-10248500.FP.FTS.B,

22.99%,

9/27/25

39,538

39,803

APP-10156534.FP.FTS.B,

10.99%,

9/30/25

21,686

21,972

APP-10204096.FP.FTS.B,

10.99%,

10/01/25

..........................

17,438

17,698

APP-09708653.FP.FTS.B,

13.24%,

10/01/25

..........................

19,561

19,817

APP-10060747.FP.FTS.B,

13.74%,

10/01/25

..........................

23,269

23,617

APP-10157176.FP.FTS.B,

16.49%,

10/01/25

..........................

19,639

19,810

APP-10692380.FP.FTS.B,

16.49%,

10/01/25

..........................

25,218

25,318

APP-10459241.FP.FTS.B,

17.99%,

10/01/25

..........................

11,527

11,560

APP-10203214.FP.FTS.B,

18.99%,

10/01/25

..........................

17,990

17,978

APP-10244672.FP.FTS.B,

20.99%,

10/01/25

..........................

17,192

17,080

APP-10221767.FP.FTS.B,

15.99%,

10/02/25

..........................

6,457

6,539

APP-10682601.FP.FTS.B,

16.49%,

10/02/25

..........................

30,268

30,412

APP-10684832.FP.FTS.B,

20.99%,

10/02/25

..........................

8,943

8,933

APP-10245175.FP.FTS.B,

15.49%,

10/04/25

..........................

18,943

9,859

APP-10092907.FP.FTS.B,

17.99%,

10/04/25

..........................

25,737

25,865

APP-10243948.FP.FTS.B,

18.99%,

10/04/25

..........................

18,334

18,302

APP-10245113.FP.FTS.B,

20.99%,

10/04/25

6,097

3,503

APP-09979972.FP.FTS.B,

14.49%,

10/05/25

..........................

35,357

35,759

APP-10263399.FP.FTS.B,

26.49%,

10/08/25

..........................

6,606

6,595

APP-10770205.FP.FTS.B,

18.49%,

10/09/25

..........................

9,478

9,543

APP-10782023.FP.FTS.B,

17.49%,

10/10/25

..........................

18,167

3,536

APP-10485308.FP.FTS.B,

16.99%,

10/12/25

..........................

13,237

13,344

APP-10480296.FP.FTS.B,

19.49%,

10/12/25

..........................

12,904

12,942

APP-10293468.FP.FTS.B,

12.49%,

10/15/25

..........................

38,241

38,759

APP-10354360.FP.FTS.B,

19.49%,

10/15/25

..........................

21,363

21,398

APP-10479307.FP.FTS.B,

19.99%,

10/15/25

..........................

13,992

14,023

APP-10516445.FP.FTS.B,

11.49%,

10/16/25

28,958

29,374

APP-10384915.FP.FTS.B,

16.49%,

10/17/25

..........................

15,196

15,394

APP-10450638.FP.FTS.B,

16.99%,

10/18/25

..........................

12,858

12,976

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

229

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Freedom

Financial

Asset

Management

LLC

(continued)

APP-10497677.FP.FTS.B,

12.74%,

10/20/25

..........................

$

10,827

$

10,988

APP-10567121.FP.FTS.B,

13.24%,

10/20/25

..........................

19,800

20,074

APP-10578108.FP.FTS.B,

14.49%,

10/22/25

..........................

25,090

25,353

APP-10315400.FP.FTS.B,

16.49%,

10/22/25

..........................

22,220

22,469

APP-10455715.FP.FTS.B,

19.49%,

10/25/25

..........................

13,020

13,023

APP-10474872.FP.FTS.B,

18.99%,

10/28/25

..........................

11,129

11,272

APP-10519197.FP.FTS.B,

15.99%,

10/29/25

..........................

30,239

30,652

APP-10689729.FP.FTS.B,

13.99%,

11/05/25

8,524

8,631

APP-10605982.FP.FTS.B,

10.99%,

11/09/25

24,101

24,432

APP-11104456.FP.FTS.B,

10.99%,

11/10/25

10,478

10,606

APP-10049793.FP.FTS.B,

10.99%,

11/15/25

25,409

25,799

APP-10606420.FP.FTS.B,

10.99%,

11/15/25

26,629

27,038

APP-10839237.FP.FTS.B,

10.99%,

11/15/25

19,623

19,890

APP-11210666.FP.FTS.B,

10.99%,

11/15/25

19,101

19,337

APP-11376181.FP.FTS.B,

10.99%,

11/15/25

12,391

12,542

APP-10551317.FP.FTS.B,

15.99%,

11/15/25

28,204

28,421

APP-11237796.FP.FTS.B,

16.49%,

11/15/25

15,709

15,828

APP-10776817.FP.FTS.B,

16.99%,

11/15/25

34,092

34,264

APP-11280073.FP.FTS.B,

17.49%,

11/15/25

28,873

29,044

APP-11398866.FP.FTS.B,

12.74%,

11/16/25

11,157

11,289

APP-10681833.FP.FTS.B,

15.99%,

11/16/25

26,129

26,473

APP-10768953.FP.FTS.B,

18.99%,

11/17/25

11,453

11,526

APP-11393685.FP.FTS.B,

17.49%,

11/18/25

25,296

25,224

APP-10054925.FP.FTS.B,

13.99%,

11/20/25

8,553

8,691

APP-11412825.FP.FTS.B,

16.49%,

11/20/25

14,794

14,942

APP-10773457.FP.FTS.B,

11.49%,

11/22/25

23,270

23,503

APP-10692429.FP.FTS.B,

20.99%,

11/22/25

9,257

9,344

APP-10476373.FP.FTS.B,

10.99%,

11/25/25

13,532

13,768

APP-11807115.FP.FTS.B,

8.24%,

12/17/25

15,101

15,294

APP-11802431.FP.FTS.B,

10.24%,

12/18/25

11,968

12,123

APP-10770088.FP.FTS.B,

10.99%,

12/18/25

..........................

25,465

25,849

APP-11305215.FP.FTS.B,

13.24%,

12/19/25

14,742

14,953

APP-11194608.FP.FTS.B,

10.99%,

12/20/25

16,485

16,732

APP-11253357.FP.FTS.B,

13.24%,

12/20/25

16,007

16,215

APP-11237745.FP.FTS.B,

17.49%,

12/20/25

7,699

7,807

APP-11793362.FP.FTS.B,

17.99%,

12/20/25

32,622

32,772

APP-11693773.FP.FTS.B,

13.74%,

12/21/25

33,530

33,963

APP-10746117.FP.FTS.B,

8.99%,

12/26/25

16,179

16,413

APP-11379674.FP.FTS.B,

11.49%,

12/26/25

34,330

34,854

APP-11772465.FP.FTS.B,

10.99%,

12/27/25

41,919

42,513

APP-11384860.FP.FTS.B,

12.49%,

12/28/25

35,264

35,750

APP-11785403.FP.FTS.B,

12.49%,

12/29/25

17,064

17,335

APP-11805285.FP.FTS.B,

16.99%,

12/29/25

11,933

12,098

APP-11237818.FP.FTS.B,

17.99%,

12/31/25

23,821

23,948

APP-11249658.FP.FTS.B,

10.49%,

1/02/26

39,715

40,324

APP-11374960.FP.FTS.B,

14.99%,

1/02/26

5,911

5,877

APP-11104135.FP.FTS.B,

11.49%,

1/03/26

34,055

34,597

APP-11321062.FP.FTS.B,

14.49%,

1/03/26

12,354

12,483

APP-11411443.FP.FTS.B,

17.49%,

1/03/26

11,959

11,915

APP-11290144.FP.FTS.B,

19.99%,

1/03/26

15,361

15,344

Description

Principal

Amount

Value

Freedom

Financial

Asset

Management

LLC

(continued)

APP-11287073.FP.FTS.B,

21.99%,

1/03/26

$

29,074

$

28,940

APP-11405208.FP.FTS.B,

13.49%,

1/05/26

24,665

–

APP-11380226.FP.FTS.B,

13.99%,

1/07/26

11,286

11,443

APP-11378327.FP.FTS.B,

17.99%,

1/07/26

12,184

12,167

APP-11382186.FP.FTS.B,

21.99%,

1/07/26

27,130

26,990

APP-11397672.FP.FTS.B,

12.49%,

1/08/26

44,365

45,090

APP-11380825.FP.FTS.B,

18.49%,

1/08/26

16,334

16,322

APP-11279539.FP.FTS.B,

15.99%,

1/09/26

9,412

9,571

APP-11403530.FP.FTS.B,

19.49%,

1/09/26

9,483

9,541

APP-12261586.FP.FTS.B,

16.99%,

1/15/26

16,482

16,596

APP-12244806.FP.FTS.B,

16.74%,

1/22/26

28,057

28,328

APP-12210812.FP.FTS.B,

9.99%,

1/25/26

.

22,367

22,716

APP-12125189.FP.FTS.B,

19.49%,

1/25/26

14,577

14,718

APP-12219829.FP.FTS.B,

16.99%,

1/26/26

11,257

11,396

APP-12229052.FP.FTS.B,

17.99%,

1/26/26

18,183

18,371

APP-12243882.FP.FTS.B,

19.49%,

1/27/26

9,579

9,694

APP-12249724.FP.FTS.B,

22.49%,

1/27/26

7,337

7,404

APP-12266935.FP.FTS.B,

18.49%,

1/28/26

17,301

17,514

APP-11804977.FP.FTS.B,

16.74%,

1/31/26

27,240

27,353

APP-11803364.FP.FTS.B,

10.24%,

2/01/26

16,589

16,825

APP-11816651.FP.FTS.B,

26.49%,

2/01/26

7,122

7,070

APP-11770041.FP.FTS.B,

15.99%,

2/02/26

11,087

11,136

APP-11792403.FP.FTS.B,

13.99%,

2/03/26

21,260

21,402

APP-11335385.FP.FTS.B,

10.99%,

2/04/26

16,934

17,178

APP-11751019.FP.FTS.B,

15.99%,

2/05/26

13,923

7,196

APP-11785448.FP.FTS.B,

13.49%,

2/11/26

17,926

18,095

APP-11799618.FP.FTS.B,

15.24%,

2/11/26

9,514

9,676

APP-11731938.FP.FTS.B,

16.99%,

2/11/26

13,737

13,884

APP-11798110.FP.FTS.B,

24.99%,

2/11/26

7,500

–

APP-11799543.FP.FTS.B,

13.24%,

2/12/26

9,326

9,486

APP-11787493.FP.FTS.B,

14.99%,

2/12/26

16,390

16,562

APP-11817724.FP.FTS.B,

20.74%,

2/12/26

21,210

21,217

APP-11802110.FP.FTS.B,

16.99%,

2/13/26

23,328

23,570

APP-12285827.FP.FTS.B,

13.24%,

3/01/26

9,825

9,960

APP-11946533.FP.FTS.B,

16.24%,

3/01/26

28,868

28,896

APP-12236342.FP.FTS.B,

16.49%,

3/08/26

23,207

23,253

APP-12224531.FP.FTS.B,

9.99%,

3/09/26

.

24,287

24,695

APP-12231516.FP.FTS.B,

15.99%,

3/09/26

8,870

9,043

APP-12248452.FP.FTS.B,

19.24%,

3/11/26

42,081

42,199

APP-12223796.FP.FTS.B,

21.24%,

3/11/26

25,622

25,570

APP-12243350.FP.FTS.B,

9.99%,

3/12/26

.

20,301

20,680

APP-12201290.FP.FTS.B,

14.74%,

3/12/26

46,345

46,877

APP-12106220.FP.FTS.B,

18.99%,

3/12/26

12,067

12,168

APP-12140905.FP.FTS.B,

24.99%,

3/12/26

8,988

9,036

APP-12033222.FP.FTS.B,

13.24%,

3/14/26

30,514

30,869

APP-12262753.FP.FTS.B,

14.99%,

3/14/26

19,492

19,693

APP-12266777.FP.FTS.B,

17.74%,

3/15/26

24,238

24,295

APP-08709427.FP.FTS.B,

16.99%,

3/17/26

16,128

16,318

APP-08739403.FP.FTS.B,

16.99%,

3/21/26

22,887

23,196

APP-08862676.FP.FTS.B,

22.49%,

4/05/26

17,578

–

APP-08907777.FP.FTS.B,

17.99%,

4/12/26

6,412

6,480

APP-08330688.FP.FTS.B,

14.99%,

4/15/26

19,926

20,195

APP-08985969.FP.FTS.B,

18.99%,

4/15/26

16,515

16,695

APP-08971565.FP.FTS.B,

17.99%,

4/16/26

22,380

12,598

APP-08979775.FP.FTS.B,

23.99%,

4/16/26

23,547

23,686

APP-09077004.FP.FTS.B,

16.99%,

4/17/26

8,568

8,656

APP-08698355.FP.FTS.B,

18.99%,

4/17/26

15,105

15,201

APP-09020453.FP.FTS.B,

19.99%,

4/18/26

19,135

19,342

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

230

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Freedom

Financial

Asset

Management

LLC

(continued)

APP-08999178.FP.FTS.B,

17.99%,

4/20/26

$

22,218

$

22,490

APP-08853920.FP.FTS.B,

20.49%,

4/20/26

15,023

15,175

APP-09019999.FP.FTS.B,

13.49%,

4/22/26

40,296

40,832

APP-09069006.FP.FTS.B,

21.99%,

4/28/26

12,457

–

APP-09100185.FP.FTS.B,

18.99%,

4/30/26

10,079

10,082

APP-09094979.FP.FTS.B,

19.99%,

4/30/26

13,354

13,303

APP-09087999.FP.FTS.B,

21.49%,

4/30/26

26,764

26,771

APP-08979983.FP.FTS.B,

19.99%,

5/01/26

9,900

9,919

APP-08726744.FP.FTS.B,

21.49%,

5/01/26

30,635

30,707

APP-09232273.FP.FTS.B,

19.49%,

5/03/26

33,938

34,163

APP-08696699.FP.FTS.B,

14.99%,

5/05/26

20,121

20,416

APP-08741967.FP.FTS.B,

17.49%,

5/05/26

25,058

25,413

APP-08676164.FP.FTS.B,

20.99%,

5/05/26

7,794

7,826

APP-09232139.FP.FTS.B,

22.49%,

5/07/26

27,117

27,013

APP-09214807.FP.FTS.B,

19.99%,

5/13/26

5,440

5,302

APP-09321377.FP.FTS.B,

17.49%,

5/15/26

21,768

21,983

APP-08975984.FP.FTS.B,

16.99%,

5/17/26

17,392

17,624

APP-09358847.FP.FTS.B,

19.49%,

5/17/26

10,869

10,910

APP-08917533.FP.FTS.B,

20.49%,

5/17/26

14,222

14,292

APP-08978315.FP.FTS.B,

22.49%,

5/17/26

21,120

21,045

APP-08980618.FP.FTS.B,

22.99%,

5/17/26

42,282

42,551

APP-08964544.FP.FTS.B,

24.99%,

5/17/26

16,351

1,569

APP-09342828.FP.FTS.B,

21.49%,

5/18/26

8,806

3,002

APP-08999101.FP.FTS.B,

19.99%,

5/19/26

10,000

10,090

APP-09376023.FP.FTS.B,

19.99%,

5/20/26

16,100

16,185

APP-09345065.FP.FTS.B,

22.49%,

5/20/26

16,995

17,104

APP-08950723.FP.FTS.B,

14.99%,

5/21/26

12,884

13,060

APP-08476144.FP.FTS.B,

12.99%,

5/22/26

25,740

26,125

APP-09018769.FP.FTS.B,

12.99%,

5/22/26

11,665

11,849

APP-08882597.FP.FTS.B,

17.49%,

5/22/26

32,291

32,793

APP-08986737.FP.FTS.B,

17.49%,

5/22/26

46,732

–

APP-09020345.FP.FTS.B,

17.49%,

5/22/26

14,987

15,114

APP-08996892.FP.FTS.B,

18.49%,

5/22/26

33,257

33,608

APP-09015317.FP.FTS.B,

18.99%,

5/22/26

16,482

16,682

APP-09022304.FP.FTS.B,

21.99%,

5/22/26

16,826

17,023

APP-08994245.FP.FTS.B,

22.99%,

5/22/26

39,750

40,036

APP-09017828.FP.FTS.B,

26.49%,

5/22/26

8,922

8,917

APP-09024930.FP.FTS.B,

13.49%,

5/23/26

7,824

7,938

APP-09012468.FP.FTS.B,

17.49%,

5/23/26

14,416

14,611

APP-09016364.FP.FTS.B,

18.49%,

5/23/26

42,096

42,479

APP-09018294.FP.FTS.B,

18.99%,

5/23/26

19,860

20,062

APP-09022374.FP.FTS.B,

18.99%,

5/23/26

13,763

13,900

APP-09025698.FP.FTS.B,

19.49%,

5/23/26

32,662

33,104

APP-09026416.FP.FTS.B,

19.49%,

5/23/26

14,925

15,002

APP-09025472.FP.FTS.B,

19.99%,

5/23/26

18,067

18,162

APP-08902866.FP.FTS.B,

20.49%,

5/23/26

21,532

21,602

APP-09026796.FP.FTS.B,

21.99%,

5/23/26

12,631

12,745

APP-09012359.FP.FTS.B,

23.49%,

5/23/26

13,559

13,654

APP-08934150.FP.FTS.B,

17.99%,

5/25/26

8,595

8,587

APP-09336278.FP.FTS.B,

21.99%,

5/25/26

18,094

18,191

APP-08932092.FP.FTS.B,

14.99%,

5/26/26

16,395

16,678

APP-08979821.FP.FTS.B,

16.49%,

5/26/26

13,048

13,237

APP-09341585.FP.FTS.B,

22.99%,

5/26/26

17,331

16,902

APP-09356444.FP.FTS.B,

17.49%,

5/27/26

16,698

16,881

APP-09437723.FP.FTS.B,

20.99%,

5/27/26

18,529

18,681

APP-09352425.FP.FTS.B,

14.99%,

5/28/26

26,122

26,478

APP-08989489.FP.FTS.B,

22.99%,

5/28/26

8,513

8,616

APP-08924259.FP.FTS.B,

15.49%,

5/29/26

29,553

30,120

Description

Principal

Amount

Value

Freedom

Financial

Asset

Management

LLC

(continued)

APP-09016739.FP.FTS.B,

15.49%,

5/29/26

$

28,119

$

28,412

APP-09057970.FP.FTS.B,

16.99%,

5/29/26

8,359

8,432

APP-09057834.FP.FTS.B,

18.99%,

5/29/26

21,975

21,987

APP-08957230.FP.FTS.B,

20.49%,

5/29/26

15,436

15,366

APP-08970339.FP.FTS.B,

22.49%,

5/29/26

14,810

14,684

APP-08978847.FP.FTS.B,

22.49%,

5/29/26

10,232

–

APP-09330764.FP.FTS.B,

22.49%,

5/29/26

21,235

2,394

APP-09063657.FP.FTS.B,

22.99%,

5/29/26

42,193

42,790

APP-08923777.FP.FTS.B,

12.99%,

5/30/26

23,973

24,320

APP-08970713.FP.FTS.B,

12.99%,

5/30/26

23,393

23,732

APP-08938976.FP.FTS.B,

13.49%,

5/30/26

38,301

38,811

APP-08924285.FP.FTS.B,

14.99%,

5/30/26

16,918

17,164

APP-09017848.FP.FTS.B,

16.99%,

5/30/26

19,439

19,653

APP-08959797.FP.FTS.B,

17.49%,

5/30/26

28,622

28,973

APP-08972934.FP.FTS.B,

17.49%,

5/30/26

11,394

11,395

APP-08967703.FP.FTS.B,

19.49%,

5/30/26

3,786

3,714

APP-08976475.FP.FTS.B,

20.99%,

5/30/26

11,168

11,100

APP-09021433.FP.FTS.B,

21.99%,

5/30/26

10,327

10,276

APP-08924296.FP.FTS.B,

22.49%,

5/30/26

22,133

21,893

APP-09047600.FP.FTS.B,

23.49%,

5/30/26

17,185

17,049

APP-09095354.FP.FTS.B,

12.99%,

5/31/26

19,673

19,896

APP-08926123.FP.FTS.B,

18.99%,

5/31/26

20,296

11,660

APP-08950786.FP.FTS.B,

18.99%,

5/31/26

15,047

15,076

APP-09088134.FP.FTS.B,

18.99%,

5/31/26

6,708

6,599

APP-08974488.FP.FTS.B,

21.49%,

5/31/26

12,934

12,856

APP-09060458.FP.FTS.B,

22.49%,

5/31/26

11,136

11,038

APP-08991994.FP.FTS.B,

12.99%,

6/01/26

21,851

3,863

APP-09045970.FP.FTS.B,

12.99%,

6/01/26

17,523

17,728

APP-09095478.FP.FTS.B,

13.49%,

6/01/26

27,949

28,273

APP-09013810.FP.FTS.B,

14.99%,

6/01/26

10,001

10,147

APP-09094872.FP.FTS.B,

14.99%,

6/01/26

24,196

24,488

APP-09020308.FP.FTS.B,

16.99%,

6/01/26

16,820

17,016

APP-09022013.FP.FTS.B,

17.49%,

6/01/26

13,331

–

APP-09029242.FP.FTS.B,

17.49%,

6/01/26

41,948

42,361

APP-09081945.FP.FTS.B,

17.49%,

6/01/26

14,808

4,625

APP-09018882.FP.FTS.B,

18.49%,

6/01/26

21,141

21,051

APP-08816539.FP.FTS.B,

20.49%,

6/01/26

20,752

20,736

APP-08960464.FP.FTS.B,

20.99%,

6/01/26

29,750

29,639

APP-09109896.FP.FTS.B,

21.99%,

6/01/26

12,781

12,766

APP-08991906.FP.FTS.B,

21.49%,

6/02/26

22,883

22,990

APP-08684451.FP.FTS.B,

12.99%,

6/03/26

23,587

23,949

APP-09010389.FP.FTS.B,

12.99%,

6/03/26

19,335

19,614

APP-08996653.FP.FTS.B,

16.99%,

6/03/26

24,081

–

APP-08991587.FP.FTS.B,

17.49%,

6/03/26

23,582

12,904

APP-08990964.FP.FTS.B,

12.99%,

6/04/26

17,999

18,265

APP-09010521.FP.FTS.B,

12.99%,

6/04/26

14,107

14,314

APP-09018394.FP.FTS.B,

13.49%,

6/04/26

32,439

32,925

APP-08847606.FP.FTS.B,

15.49%,

6/04/26

33,864

34,314

APP-08907106.FP.FTS.B,

17.49%,

6/04/26

9,707

9,850

APP-08980085.FP.FTS.B,

18.99%,

6/04/26

8,309

8,309

APP-08996497.FP.FTS.B,

22.99%,

6/04/26

32,300

32,288

APP-08979954.FP.FTS.B,

12.99%,

6/05/26

21,883

22,240

APP-09020682.FP.FTS.B,

12.99%,

6/05/26

11,568

11,739

APP-09019513.FP.FTS.B,

13.49%,

6/05/26

29,093

29,535

APP-08980088.FP.FTS.B,

14.99%,

6/05/26

21,384

21,687

APP-09017269.FP.FTS.B,

14.99%,

6/05/26

20,909

21,211

APP-09105301.FP.FTS.B,

14.99%,

6/05/26

13,827

13,990

APP-09017547.FP.FTS.B,

15.49%,

6/05/26

10,288

10,279

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

231

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Freedom

Financial

Asset

Management

LLC

(continued)

APP-09019228.FP.FTS.B,

16.99%,

6/05/26

$

17,575

$

17,848

APP-09025257.FP.FTS.B,

17.49%,

6/05/26

16,906

16,996

APP-09142993.FP.FTS.B,

17.99%,

6/05/26

22,137

22,172

APP-09087784.FP.FTS.B,

18.99%,

6/05/26

9,356

9,383

APP-09433384.FP.FTS.B,

19.49%,

6/05/26

15,239

4,843

APP-09027027.FP.FTS.B,

21.49%,

6/05/26

17,903

17,877

APP-08984175.FP.FTS.B,

23.49%,

6/05/26

17,390

17,336

APP-08960524.FP.FTS.B,

12.99%,

6/06/26

20,221

20,528

APP-08968271.FP.FTS.B,

19.49%,

6/06/26

29,224

29,647

APP-08915011.FP.FTS.B,

19.99%,

6/06/26

13,255

13,234

APP-08969542.FP.FTS.B,

20.99%,

6/06/26

32,107

32,048

APP-08923668.FP.FTS.B,

21.49%,

6/06/26

11,776

6,955

APP-09054133.FP.FTS.B,

20.99%,

6/08/26

8,566

8,603

APP-09083545.FP.FTS.B,

15.49%,

6/10/26

35,059

35,504

APP-09078022.FP.FTS.B,

16.99%,

6/10/26

18,494

18,740

APP-09096295.FP.FTS.B,

17.49%,

6/10/26

15,322

15,394

APP-09081667.FP.FTS.B,

21.49%,

6/10/26

6,864

6,672

APP-09085087.FP.FTS.B,

20.49%,

6/11/26

17,547

10,761

APP-09070140.FP.FTS.B,

12.99%,

6/12/26

13,115

13,320

APP-08436157.FP.FTS.B,

15.49%,

6/12/26

9,865

10,027

APP-09074502.FP.FTS.B,

17.49%,

6/12/26

29,586

30,009

APP-09074432.FP.FTS.B,

19.99%,

6/12/26

10,266

10,280

APP-09056086.FP.FTS.B,

20.99%,

6/12/26

27,506

27,631

APP-09057421.FP.FTS.B,

21.49%,

6/12/26

31,724

31,906

APP-09070087.FP.FTS.B,

24.49%,

6/12/26

26,283

26,216

APP-08447667.FP.FTS.B,

12.99%,

6/13/26

20,667

20,997

APP-08649324.FP.FTS.B,

20.49%,

6/13/26

21,456

21,563

APP-08975462.FP.FTS.B,

20.99%,

6/13/26

8,169

8,207

APP-09045278.FP.FTS.B,

12.99%,

6/14/26

10,428

10,582

APP-09091637.FP.FTS.B,

12.99%,

6/14/26

12,382

12,565

APP-09045961.FP.FTS.B,

15.49%,

6/14/26

27,796

28,219

APP-09104259.FP.FTS.B,

16.49%,

6/14/26

13,126

13,283

APP-08860858.FP.FTS.B,

17.49%,

6/14/26

39,989

40,610

APP-09096903.FP.FTS.B,

12.99%,

6/15/26

14,025

14,226

APP-08847769.FP.FTS.B,

14.99%,

6/15/26

12,759

12,969

APP-09213296.FP.FTS.B,

14.99%,

6/15/26

24,751

25,061

APP-09241848.FP.FTS.B,

14.99%,

6/15/26

9,930

10,042

APP-09094589.FP.FTS.B,

15.49%,

6/15/26

40,669

41,252

APP-09083557.FP.FTS.B,

18.49%,

6/15/26

12,902

13,079

APP-09111302.FP.FTS.B,

18.49%,

6/15/26

42,379

42,662

APP-09087248.FP.FTS.B,

20.49%,

6/15/26

15,607

1,610

APP-09241097.FP.FTS.B,

20.49%,

6/15/26

18,762

18,683

APP-09420738.FP.FTS.B,

20.49%,

6/15/26

22,072

22,021

APP-09087036.FP.FTS.B,

20.99%,

6/15/26

22,248

–

APP-09109620.FP.FTS.B,

20.99%,

6/15/26

12,664

12,731

APP-08975431.FP.FTS.B,

22.49%,

6/15/26

25,446

5,510

APP-09242266.FP.FTS.B,

22.99%,

6/15/26

28,419

28,335

APP-09133899.FP.FTS.B,

22.99%,

6/16/26

32,807

32,665

APP-09077364.FP.FTS.B,

17.49%,

6/18/26

16,906

17,044

APP-09029834.FP.FTS.B,

18.49%,

6/18/26

10,467

10,614

APP-09132903.FP.FTS.B,

18.99%,

6/18/26

17,924

18,046

APP-09125842.FP.FTS.B,

20.49%,

6/18/26

22,210

22,267

APP-09140328.FP.FTS.B,

15.49%,

6/19/26

25,543

25,931

APP-09240401.FP.FTS.B,

15.49%,

6/19/26

33,175

33,617

APP-09281875.FP.FTS.B,

14.99%,

6/20/26

23,200

23,488

APP-09122466.FP.FTS.B,

16.99%,

6/20/26

22,570

22,861

APP-09290922.FP.FTS.B,

25.49%,

6/22/26

17,339

17,351

APP-09351595.FP.FTS.B,

15.49%,

6/27/26

29,295

29,729

Description

Principal

Amount

Value

Freedom

Financial

Asset

Management

LLC

(continued)

APP-09356858.FP.FTS.B,

17.49%,

6/27/26

$

41,895

$

42,471

APP-09341526.FP.FTS.B,

23.49%,

6/27/26

8,586

8,650

APP-09350849.FP.FTS.B,

23.49%,

6/27/26

19,490

19,615

APP-09198220.FP.FTS.B,

15.49%,

6/28/26

11,928

12,083

APP-09238269.FP.FTS.B,

15.49%,

6/28/26

41,672

42,308

APP-09242271.FP.FTS.B,

16.99%,

6/28/26

16,640

16,882

APP-09096348.FP.FTS.B,

18.99%,

6/28/26

20,523

20,848

APP-09201816.FP.FTS.B,

19.49%,

6/28/26

9,033

9,099

APP-09129616.FP.FTS.B,

20.99%,

6/28/26

18,072

18,271

APP-09374876.FP.FTS.B,

17.49%,

6/29/26

33,959

34,423

APP-09335597.FP.FTS.B,

19.99%,

6/29/26

28,558

28,873

APP-09233989.FP.FTS.B,

20.49%,

6/29/26

38,723

–

APP-09045155.FP.FTS.B,

20.99%,

6/29/26

12,361

12,501

APP-09355512.FP.FTS.B,

20.99%,

6/29/26

12,064

12,058

APP-09374555.FP.FTS.B,

22.99%,

6/29/26

10,829

6,862

APP-08957467.FP.FTS.B,

22.99%,

6/30/26

39,781

–

APP-08967513.FP.FTS.B,

23.49%,

6/30/26

13,050

12,932

APP-08979130.FP.FTS.B,

24.49%,

6/30/26

26,436

26,224

APP-09313378.FP.FTS.B,

16.99%,

7/01/26

24,574

24,791

APP-08984739.FP.FTS.B,

17.49%,

7/01/26

42,142

42,727

APP-09785029.FP.FTS.B,

17.99%,

7/01/26

8,487

8,517

APP-09717830.FP.FTS.B,

19.99%,

7/01/26

11,225

11,124

APP-09789894.FP.FTS.B,

21.49%,

7/01/26

19,104

18,891

APP-09315776.FP.FTS.B,

21.99%,

7/01/26

12,161

12,085

APP-09351048.FP.FTS.B,

22.49%,

7/01/26

14,179

14,123

APP-09771718.FP.FTS.B,

18.49%,

7/02/26

32,236

32,243

APP-09321833.FP.FTS.B,

18.99%,

7/02/26

9,833

3,175

APP-09274045.FP.FTS.B,

22.49%,

7/02/26

21,912

21,833

APP-09280432.FP.FTS.B,

24.99%,

7/02/26

12,927

12,808

APP-09717698.FP.FTS.B,

13.24%,

7/03/26

18,914

19,091

APP-08998864.FP.FTS.B,

26.49%,

7/03/26

11,208

10,891

APP-09290915.FP.FTS.B,

17.49%,

7/04/26

17,112

17,147

APP-09379010.FP.FTS.B,

22.49%,

7/04/26

19,982

19,823

APP-09029840.FP.FTS.B,

13.49%,

7/05/26

24,298

24,550

APP-09490392.FP.FTS.B,

13.99%,

7/05/26

41,885

42,297

APP-09322470.FP.FTS.B,

15.49%,

7/05/26

24,585

24,907

APP-09778974.FP.FTS.B,

21.49%,

7/05/26

39,822

39,616

APP-09025235.FP.FTS.B,

26.99%,

7/05/26

35,216

34,964

APP-09569037.FP.FTS.B,

13.24%,

7/06/26

24,169

24,420

APP-09419174.FP.FTS.B,

13.49%,

7/06/26

30,375

30,730

APP-09445164.FP.FTS.B,

13.49%,

7/06/26

29,790

30,139

APP-09441854.FP.FTS.B,

17.49%,

7/06/26

16,992

17,041

APP-09161618.FP.FTS.B,

17.99%,

7/06/26

29,571

29,641

APP-09427047.FP.FTS.B,

19.99%,

7/06/26

10,551

10,511

APP-09440082.FP.FTS.B,

22.49%,

7/06/26

17,314

17,237

APP-09447903.FP.FTS.B,

23.49%,

7/06/26

18,088

17,977

APP-09448166.FP.FTS.B,

14.99%,

7/07/26

24,331

24,759

APP-09354737.FP.FTS.B,

15.49%,

7/07/26

6,366

6,462

APP-09752599.FP.FTS.B,

17.49%,

7/07/26

11,740

–

APP-09313552.FP.FTS.B,

18.99%,

7/07/26

9,745

–

APP-09207999.FP.FTS.B,

20.49%,

7/07/26

34,707

34,884

APP-09363228.FP.FTS.B,

21.49%,

7/07/26

25,927

25,993

APP-08684302.FP.FTS.B,

13.74%,

7/08/26

31,124

31,463

APP-09348113.FP.FTS.B,

12.99%,

7/09/26

18,382

–

APP-09331398.FP.FTS.B,

14.99%,

7/09/26

20,240

20,559

APP-09717797.FP.FTS.B,

16.99%,

7/09/26

17,238

17,382

APP-09353834.FP.FTS.B,

17.99%,

7/09/26

21,712

21,835

APP-09768010.FP.FTS.B,

17.99%,

7/09/26

29,385

29,531

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

232

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Freedom

Financial

Asset

Management

LLC

(continued)

APP-09280276.FP.FTS.B,

18.99%,

7/09/26

$

17,830

$

18,077

APP-09308749.FP.FTS.B,

18.99%,

7/09/26

7,182

2,690

APP-09778390.FP.FTS.B,

18.99%,

7/09/26

19,827

19,831

APP-09344347.FP.FTS.B,

22.49%,

7/09/26

26,557

26,473

APP-09313611.FP.FTS.B,

22.99%,

7/09/26

26,952

27,154

APP-09336762.FP.FTS.B,

12.99%,

7/10/26

10,881

11,049

APP-09337683.FP.FTS.B,

13.49%,

7/10/26

37,490

38,068

APP-09374305.FP.FTS.B,

14.99%,

7/10/26

12,861

13,023

APP-08447355.FP.FTS.B,

17.49%,

7/10/26

13,253

4,106

APP-09291214.FP.FTS.B,

17.99%,

7/10/26

26,605

15,074

APP-09424879.FP.FTS.B,

17.99%,

7/10/26

7,778

7,813

APP-09351977.FP.FTS.B,

19.49%,

7/10/26

17,318

17,431

APP-09349930.FP.FTS.B,

22.49%,

7/10/26

17,915

–

APP-09208095.FP.FTS.B,

17.49%,

7/11/26

14,312

14,372

APP-09353487.FP.FTS.B,

17.49%,

7/11/26

36,799

3,332

APP-08684475.FP.FTS.B,

18.99%,

7/11/26

8,795

8,814

APP-09343037.FP.FTS.B,

21.99%,

7/11/26

11,994

11,847

APP-09077055.FP.FTS.B,

12.99%,

7/12/26

10,611

10,764

APP-09374662.FP.FTS.B,

12.99%,

7/12/26

15,948

16,178

APP-09328185.FP.FTS.B,

15.49%,

7/12/26

31,151

31,571

APP-09358023.FP.FTS.B,

16.99%,

7/12/26

23,970

24,260

APP-09322505.FP.FTS.B,

19.99%,

7/12/26

20,780

20,883

APP-09303638.FP.FTS.B,

22.99%,

7/12/26

31,350

31,073

APP-09045901.FP.FTS.B,

14.99%,

7/13/26

18,807

19,091

APP-09815288.FP.FTS.B,

17.49%,

7/13/26

34,518

34,852

APP-09079208.FP.FTS.B,

22.99%,

7/13/26

14,249

4,971

APP-09045296.FP.FTS.B,

24.49%,

7/13/26

10,314

10,295

APP-08869934.FP.FTS.B,

21.99%,

7/14/26

10,635

10,673

APP-09066017.FP.FTS.B,

23.49%,

7/14/26

18,271

4,034

APP-09104211.FP.FTS.B,

26.99%,

7/15/26

31,695

31,562

APP-09697087.FP.FTS.B,

13.74%,

7/16/26

31,657

32,024

APP-09434174.FP.FTS.B,

20.99%,

7/17/26

10,838

2,227

APP-09424321.FP.FTS.B,

22.99%,

7/17/26

25,834

25,586

APP-09443159.FP.FTS.B,

13.49%,

7/18/26

27,963

28,383

APP-09284176.FP.FTS.B,

23.49%,

7/18/26

18,448

18,430

APP-08914924.FP.FTS.B,

24.99%,

7/19/26

12,264

12,240

APP-09356919.FP.FTS.B,

15.49%,

7/20/26

23,376

23,746

APP-09360053.FP.FTS.B,

20.99%,

7/20/26

9,754

9,797

APP-09374153.FP.FTS.B,

20.49%,

7/23/26

35,382

3,813

APP-09045963.FP.FTS.B,

15.49%,

8/01/26

30,720

31,027

APP-09433444.FP.FTS.B,

14.99%,

8/06/26

16,013

16,188

APP-10156862.FP.FTS.B,

17.99%,

8/06/26

43,336

43,465

APP-09754990.FP.FTS.B,

21.99%,

8/08/26

15,876

–

APP-09709453.FP.FTS.B,

14.24%,

8/09/26

17,023

17,214

APP-09342319.FP.FTS.B,

24.99%,

8/09/26

32,626

32,406

APP-08114000.FP.FTS.B,

13.24%,

8/10/26

19,883

20,121

APP-09377950.FP.FTS.B,

16.49%,

8/10/26

9,446

9,543

APP-09788496.FP.FTS.B,

16.99%,

8/10/26

22,435

6,433

APP-09708763.FP.FTS.B,

17.49%,

8/10/26

17,237

17,283

APP-09780659.FP.FTS.B,

17.49%,

8/10/26

27,420

27,673

APP-09780914.FP.FTS.B,

18.99%,

8/10/26

14,727

14,738

APP-09787054.FP.FTS.B,

19.99%,

8/10/26

13,042

13,022

APP-09788080.FP.FTS.B,

20.99%,

8/10/26

24,254

24,147

APP-09789653.FP.FTS.B,

23.49%,

8/10/26

17,591

17,460

APP-09249334.FP.FTS.B,

24.49%,

8/10/26

8,445

8,310

APP-09672610.FP.FTS.B,

25.49%,

8/10/26

26,408

26,185

APP-09759315.FP.FTS.B,

13.24%,

8/11/26

19,933

20,178

APP-09794481.FP.FTS.B,

13.24%,

8/11/26

20,543

20,790

Description

Principal

Amount

Value

Freedom

Financial

Asset

Management

LLC

(continued)

APP-09354449.FP.FTS.B,

23.49%,

8/11/26

$

13,740

$

13,710

APP-09593157.FP.FTS.B,

14.74%,

8/12/26

29,754

30,097

APP-09781342.FP.FTS.B,

17.99%,

8/12/26

25,919

26,028

APP-09717599.FP.FTS.B,

19.99%,

8/12/26

9,477

9,473

APP-09367148.FP.FTS.B,

24.49%,

8/12/26

9,338

9,280

APP-09814448.FP.FTS.B,

13.24%,

8/13/26

27,645

27,984

APP-09798059.FP.FTS.B,

19.49%,

8/13/26

28,019

28,060

APP-09808235.FP.FTS.B,

19.49%,

8/13/26

25,977

26,001

APP-09794128.FP.FTS.B,

19.99%,

8/13/26

13,251

13,204

APP-09812675.FP.FTS.B,

19.99%,

8/13/26

13,479

13,394

APP-09818223.FP.FTS.B,

19.99%,

8/13/26

8,790

8,798

APP-09805161.FP.FTS.B,

21.49%,

8/13/26

14,005

13,921

APP-10240734.FP.FTS.B,

11.99%,

8/15/26

16,107

2,888

APP-09291173.FP.FTS.B,

13.24%,

8/15/26

23,911

24,218

APP-09771129.FP.FTS.B,

13.24%,

8/15/26

26,209

26,558

APP-09778508.FP.FTS.B,

13.24%,

8/15/26

22,641

22,932

APP-09795345.FP.FTS.B,

13.24%,

8/15/26

23,794

24,106

APP-10135702.FP.FTS.B,

14.24%,

8/15/26

17,516

17,684

APP-10045496.FP.FTS.B,

14.49%,

8/15/26

9,072

9,169

APP-09818529.FP.FTS.B,

17.49%,

8/15/26

17,286

17,353

APP-09788637.FP.FTS.B,

17.99%,

8/15/26

30,320

30,418

APP-09745779.FP.FTS.B,

18.49%,

8/15/26

15,134

15,079

APP-09708666.FP.FTS.B,

19.49%,

8/15/26

19,860

19,799

APP-09766832.FP.FTS.B,

19.99%,

8/15/26

6,982

6,991

APP-09811446.FP.FTS.B,

20.49%,

8/15/26

22,937

2,450

APP-09746385.FP.FTS.B,

24.49%,

8/15/26

6,909

6,875

APP-09799026.FP.FTS.B,

25.49%,

8/15/26

8,523

796

APP-09818659.FP.FTS.B,

25.49%,

8/15/26

10,485

10,422

APP-10272491.FP.FTS.B,

14.24%,

8/17/26

16,554

16,730

APP-09780110.FP.FTS.B,

15.99%,

8/17/26

41,829

42,353

APP-10176592.FP.FTS.B,

15.99%,

8/17/26

41,762

42,219

APP-10169709.FP.FTS.B,

16.99%,

8/17/26

23,571

23,826

APP-10203061.FP.FTS.B,

18.99%,

8/17/26

20,159

–

APP-09794920.FP.FTS.B,

21.49%,

8/17/26

18,441

18,379

APP-10214566.FP.FTS.B,

17.99%,

8/18/26

22,267

22,373

APP-10213964.FP.FTS.B,

18.99%,

8/18/26

15,828

15,895

APP-09429726.FP.FTS.B,

23.49%,

8/19/26

13,832

13,779

APP-10246936.FP.FTS.B,

9.99%,

8/20/26

.

15,635

15,837

APP-10170330.FP.FTS.B,

11.99%,

8/20/26

11,345

11,488

APP-10212839.FP.FTS.B,

12.24%,

8/20/26

9,477

9,544

APP-10244412.FP.FTS.B,

14.24%,

8/20/26

16,328

16,515

APP-09717880.FP.FTS.B,

15.74%,

8/20/26

22,993

23,309

APP-09756352.FP.FTS.B,

16.49%,

8/20/26

20,924

–

APP-10163490.FP.FTS.B,

17.99%,

8/20/26

22,220

22,321

APP-09778451.FP.FTS.B,

18.99%,

8/20/26

19,301

19,380

APP-09791612.FP.FTS.B,

18.99%,

8/20/26

43,631

43,885

APP-10236085.FP.FTS.B,

19.99%,

8/20/26

8,802

8,826

APP-09767793.FP.FTS.B,

20.49%,

8/20/26

17,197

17,148

APP-09793324.FP.FTS.B,

20.99%,

8/20/26

24,961

–

APP-10195666.FP.FTS.B,

20.99%,

8/20/26

27,722

27,744

APP-10244692.FP.FTS.B,

20.99%,

8/20/26

33,994

34,021

APP-09811789.FP.FTS.B,

22.49%,

8/20/26

6,626

6,627

APP-09794262.FP.FTS.B,

25.49%,

8/20/26

8,204

8,072

APP-10239339.FP.FTS.B,

14.24%,

8/21/26

12,924

13,050

APP-10240073.FP.FTS.B,

14.74%,

8/21/26

15,903

15,923

APP-10127112.FP.FTS.B,

16.49%,

8/21/26

13,067

13,201

APP-10013950.FP.FTS.B,

17.99%,

8/21/26

24,947

25,072

APP-10233694.FP.FTS.B,

18.99%,

8/21/26

16,497

16,567

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

233

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Freedom

Financial

Asset

Management

LLC

(continued)

APP-10243564.FP.FTS.B,

20.49%,

8/21/26

$

17,644

$

17,632

APP-10246680.FP.FTS.B,

20.99%,

8/21/26

10,686

10,676

APP-10144266.FP.FTS.B,

22.99%,

8/21/26

32,886

32,805

APP-10237615.FP.FTS.B,

23.49%,

8/21/26

23,469

–

APP-10293482.FP.FTS.B,

11.99%,

8/22/26

14,386

14,535

APP-09717638.FP.FTS.B,

13.24%,

8/22/26

17,553

17,820

APP-10247805.FP.FTS.B,

18.99%,

8/22/26

14,080

14,137

APP-09778033.FP.FTS.B,

13.74%,

8/23/26

12,235

12,249

APP-09766134.FP.FTS.B,

15.24%,

8/23/26

21,524

21,844

APP-09788656.FP.FTS.B,

15.99%,

8/23/26

39,889

11,409

APP-10258074.FP.FTS.B,

16.99%,

8/23/26

15,276

15,361

APP-09781974.FP.FTS.B,

17.49%,

8/23/26

15,903

16,004

APP-09788355.FP.FTS.B,

17.99%,

8/23/26

43,546

44,149

APP-09794212.FP.FTS.B,

17.99%,

8/23/26

20,162

20,309

APP-09788767.FP.FTS.B,

19.49%,

8/23/26

12,128

4,298

APP-09569048.FP.FTS.B,

19.99%,

8/23/26

18,381

18,450

APP-09778481.FP.FTS.B,

19.99%,

8/23/26

11,645

11,621

APP-09791696.FP.FTS.B,

19.99%,

8/23/26

17,559

17,625

APP-09764627.FP.FTS.B,

20.99%,

8/23/26

33,481

11,146

APP-09790905.FP.FTS.B,

13.24%,

8/24/26

13,662

13,879

APP-10265826.FP.FTS.B,

14.49%,

8/24/26

9,166

985

APP-09792266.FP.FTS.B,

14.74%,

8/24/26

11,736

11,914

APP-09726787.FP.FTS.B,

15.24%,

8/24/26

13,855

14,066

APP-09346983.FP.FTS.B,

15.74%,

8/24/26

25,404

25,805

APP-09787833.FP.FTS.B,

15.74%,

8/24/26

34,532

35,062

APP-09794319.FP.FTS.B,

15.74%,

8/24/26

23,309

23,667

APP-09490285.FP.FTS.B,

19.49%,

8/24/26

24,475

2,735

APP-09708684.FP.FTS.B,

21.49%,

8/24/26

44,193

44,393

APP-09799620.FP.FTS.B,

21.99%,

8/24/26

8,966

9,015

APP-09790607.FP.FTS.B,

22.49%,

8/24/26

23,004

23,007

APP-09759659.FP.FTS.B,

13.24%,

8/25/26

27,325

27,775

APP-09812236.FP.FTS.B,

13.24%,

8/26/26

19,602

19,936

APP-09817213.FP.FTS.B,

13.24%,

8/26/26

10,985

11,170

APP-09816769.FP.FTS.B,

16.99%,

8/26/26

19,194

–

APP-09811518.FP.FTS.B,

15.74%,

8/27/26

23,668

24,070

APP-10308476.FP.FTS.B,

20.49%,

8/28/26

21,922

21,963

APP-10352432.FP.FTS.B,

11.99%,

9/01/26

16,735

16,887

APP-10357544.FP.FTS.B,

11.99%,

9/04/26

23,504

23,757

APP-10389562.FP.FTS.B,

17.49%,

9/05/26

17,540

17,505

APP-10451723.FP.FTS.B,

15.49%,

9/10/26

17,600

17,616

APP-10450083.FP.FTS.B,

21.49%,

9/10/26

17,331

17,137

APP-10402327.FP.FTS.B,

23.49%,

9/10/26

18,818

1,988

APP-10520402.FP.FTS.B,

25.49%,

9/10/26

8,786

8,720

APP-10352497.FP.FTS.B,

20.49%,

9/11/26

7,043

6,923

APP-10492436.FP.FTS.B,

16.99%,

9/13/26

20,077

20,269

APP-10525907.FP.FTS.B,

11.99%,

9/15/26

16,123

16,335

APP-10400798.FP.FTS.B,

14.24%,

9/15/26

20,194

20,438

APP-10508459.FP.FTS.B,

15.99%,

9/15/26

38,431

38,766

APP-10560067.FP.FTS.B,

17.99%,

9/16/26

17,778

17,766

APP-10210542.FP.FTS.B,

16.99%,

9/18/26

18,215

3,427

APP-10540443.FP.FTS.B,

19.49%,

9/18/26

12,847

12,766

APP-10687242.FP.FTS.B,

20.49%,

9/20/26

19,505

19,465

APP-10208570.FP.FTS.B,

11.99%,

9/21/26

12,889

13,070

APP-10158390.FP.FTS.B,

12.49%,

9/21/26

34,361

34,802

APP-10138068.FP.FTS.B,

14.24%,

9/21/26

13,002

13,161

APP-10227379.FP.FTS.B,

19.99%,

9/21/26

6,608

6,630

APP-09861229.FP.FTS.B,

11.24%,

9/22/26

10,719

10,862

APP-10201640.FP.FTS.B,

21.49%,

9/22/26

17,784

17,761

Description

Principal

Amount

Value

Freedom

Financial

Asset

Management

LLC

(continued)

APP-10237332.FP.FTS.B,

10.49%,

9/23/26

$

34,071

$

34,537

APP-10209954.FP.FTS.B,

16.49%,

9/23/26

11,390

11,536

APP-10211578.FP.FTS.B,

17.49%,

9/23/26

9,851

9,873

APP-09770953.FP.FTS.B,

18.49%,

9/23/26

37,075

37,334

APP-10135657.FP.FTS.B,

12.49%,

9/25/26

35,751

36,240

APP-10203826.FP.FTS.B,

13.24%,

9/25/26

43,244

43,913

APP-10240697.FP.FTS.B,

15.49%,

9/25/26

45,443

8,498

APP-10229378.FP.FTS.B,

20.99%,

9/25/26

31,311

31,286

APP-10096062.FP.FTS.B,

11.99%,

9/28/26

11,431

11,599

APP-10244251.FP.FTS.B,

20.49%,

9/28/26

21,106

21,158

APP-10663520.FP.FTS.B,

12.49%,

9/30/26

33,649

33,984

APP-10211394.FP.FTS.B,

14.24%,

9/30/26

17,671

17,889

APP-10207562.FP.FTS.B,

17.99%,

9/30/26

38,682

39,099

APP-10226534.FP.FTS.B,

19.99%,

9/30/26

1,051

1,037

APP-10156728.FP.FTS.B,

11.74%,

10/01/26

11,675

11,802

APP-10198914.FP.FTS.B,

12.49%,

10/01/26

..........................

36,884

37,411

APP-10135473.FP.FTS.B,

14.24%,

10/01/26

..........................

18,054

18,256

APP-10170262.FP.FTS.B,

14.24%,

10/01/26

..........................

13,821

14,003

APP-10173450.FP.FTS.B,

15.49%,

10/01/26

..........................

13,394

13,446

APP-10234140.FP.FTS.B,

15.49%,

10/01/26

..........................

38,944

39,385

APP-10135523.FP.FTS.B,

16.49%,

10/01/26

..........................

7,709

7,816

APP-10203378.FP.FTS.B,

18.99%,

10/01/26

..........................

15,593

15,563

APP-10115186.FP.FTS.B,

23.49%,

10/01/26

18,593

18,351

APP-10206598.FP.FTS.B,

23.49%,

10/01/26

..........................

9,766

9,639

APP-10168479.FP.FTS.B,

11.99%,

10/02/26

12,729

12,854

APP-10195837.FP.FTS.B,

11.99%,

10/02/26

15,308

15,503

APP-10221821.FP.FTS.B,

15.49%,

10/02/26

..........................

26,718

27,032

APP-10135726.FP.FTS.B,

16.99%,

10/02/26

..........................

21,379

21,572

APP-10622691.FP.FTS.B,

18.99%,

10/02/26

..........................

11,719

11,555

APP-10210290.FP.FTS.B,

19.99%,

10/02/26

..........................

7,778

7,761

APP-10683820.FP.FTS.B,

19.99%,

10/02/26

..........................

9,038

8,988

APP-10211188.FP.FTS.B,

20.99%,

10/02/26

36,239

36,064

APP-10138439.FP.FTS.B,

21.99%,

10/02/26

..........................

24,764

–

APP-10650694.FP.FTS.B,

23.49%,

10/02/26

..........................

18,229

17,928

APP-10174050.FP.FTS.B,

12.74%,

10/03/26

..........................

34,677

35,069

APP-10230539.FP.FTS.B,

15.49%,

10/03/26

..........................

43,269

43,776

APP-10156986.FP.FTS.B,

19.99%,

10/03/26

..........................

19,448

19,314

APP-10220069.FP.FTS.B,

11.99%,

10/04/26

26,274

26,655

APP-10156629.FP.FTS.B,

14.49%,

10/04/26

..........................

8,696

8,814

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

234

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Freedom

Financial

Asset

Management

LLC

(continued)

APP-09552960.FP.FTS.B,

16.99%,

10/04/26

..........................

$

21,131

$

21,341

APP-10226583.FP.FTS.B,

16.99%,

10/04/26

..........................

20,416

20,355

APP-10235883.FP.FTS.B,

16.99%,

10/04/26

..........................

14,269

14,411

APP-10005303.FP.FTS.B,

17.49%,

10/04/26

..........................

11,703

11,747

APP-10156876.FP.FTS.B,

17.49%,

10/04/26

..........................

34,206

34,548

APP-10243189.FP.FTS.B,

18.49%,

10/04/26

..........................

15,822

15,648

APP-10229284.FP.FTS.B,

18.99%,

10/04/26

..........................

13,395

7,703

APP-10251523.FP.FTS.B,

19.99%,

10/04/26

..........................

12,810

7,824

APP-10242846.FP.FTS.B,

20.49%,

10/04/26

..........................

16,244

16,069

APP-10374305.FP.FTS.B,

11.99%,

10/05/26

17,416

17,609

APP-10390975.FP.FTS.B,

12.49%,

10/05/26

..........................

34,017

34,497

APP-10237302.FP.FTS.B,

13.24%,

10/05/26

..........................

44,016

44,620

APP-10109370.FP.FTS.B,

14.24%,

10/05/26

..........................

15,604

15,751

APP-10157026.FP.FTS.B,

14.24%,

10/05/26

..........................

13,533

13,699

APP-10156658.FP.FTS.B,

18.99%,

10/05/26

..........................

15,090

15,052

APP-10210662.FP.FTS.B,

18.99%,

10/05/26

..........................

43,671

43,680

APP-10156518.FP.FTS.B,

19.99%,

10/05/26

..........................

12,811

12,802

APP-10200104.FP.FTS.B,

16.99%,

10/06/26

..........................

22,658

22,913

APP-10269575.FP.FTS.B,

18.99%,

10/06/26

..........................

22,464

22,436

APP-10253670.FP.FTS.B,

19.99%,

10/06/26

..........................

6,775

6,768

APP-10734778.FP.FTS.B,

11.99%,

10/07/26

15,899

16,075

APP-10156578.FP.FTS.B,

17.99%,

10/07/26

..........................

26,243

26,326

APP-10260301.FP.FTS.B,

22.49%,

10/07/26

..........................

4,428

4,303

APP-10692650.FP.FTS.B,

11.99%,

10/08/26

15,727

15,906

APP-10670486.FP.FTS.B,

12.74%,

10/08/26

..........................

25,857

26,118

APP-10760769.FP.FTS.B,

16.49%,

10/08/26

..........................

10,290

10,389

APP-10264378.FP.FTS.B,

17.99%,

10/08/26

..........................

171

106

APP-10091993.FP.FTS.B,

19.99%,

10/08/26

..........................

18,058

18,000

APP-10744150.FP.FTS.B,

20.49%,

10/08/26

..........................

23,200

23,077

APP-10266247.FP.FTS.B,

21.99%,

10/08/26

..........................

9,092

9,068

APP-10776411.FP.FTS.B,

11.99%,

10/09/26

26,500

26,810

Description

Principal

Amount

Value

Freedom

Financial

Asset

Management

LLC

(continued)

APP-10776963.FP.FTS.B,

14.24%,

10/09/26

..........................

$

19,572

$

19,773

APP-10710819.FP.FTS.B,

16.99%,

10/09/26

..........................

16,227

16,359

APP-10291582.FP.FTS.B,

17.49%,

10/09/26

..........................

17,759

17,753

APP-10746959.FP.FTS.B,

17.49%,

10/09/26

..........................

26,924

27,142

APP-10682190.FP.FTS.B,

19.49%,

10/09/26

..........................

18,492

18,315

APP-10476345.FP.FTS.B,

13.24%,

10/12/26

..........................

43,735

44,255

APP-10453291.FP.FTS.B,

17.99%,

10/12/26

..........................

22,144

22,171

APP-10479080.FP.FTS.B,

19.49%,

10/12/26

..........................

10,495

10,421

APP-10477663.FP.FTS.B,

20.99%,

10/12/26

..........................

35,873

35,700

APP-10477679.FP.FTS.B,

17.49%,

10/14/26

..........................

24,941

24,957

APP-10402516.FP.FTS.B,

14.24%,

10/15/26

..........................

19,922

–

APP-10422166.FP.FTS.B,

14.24%,

10/15/26

..........................

15,819

15,997

APP-10433068.FP.FTS.B,

15.49%,

10/15/26

..........................

44,119

44,614

APP-10157156.FP.FTS.B,

16.99%,

10/15/26

..........................

19,521

19,516

APP-10199991.FP.FTS.B,

16.99%,

10/15/26

..........................

17,795

17,991

APP-10480948.FP.FTS.B,

17.49%,

10/15/26

..........................

16,328

16,356

APP-10477590.FP.FTS.B,

17.99%,

10/15/26

..........................

23,386

23,429

APP-10274873.FP.FTS.B,

20.49%,

10/15/26

..........................

17,578

17,465

APP-10389402.FP.FTS.B,

22.99%,

10/15/26

..........................

5,647

5,489

APP-10505100.FP.FTS.B,

25.49%,

10/15/26

..........................

7,526

7,533

APP-10475255.FP.FTS.B,

21.99%,

10/16/26

..........................

6,743

6,735

APP-10365188.FP.FTS.B,

14.24%,

10/17/26

..........................

13,234

13,412

APP-10346165.FP.FTS.B,

16.99%,

10/17/26

..........................

9,264

9,297

APP-10514404.FP.FTS.B,

18.99%,

10/17/26

..........................

21,854

21,893

APP-10408188.FP.FTS.B,

18.99%,

10/18/26

..........................

13,389

13,420

APP-10481071.FP.FTS.B,

18.99%,

10/18/26

..........................

22,344

22,371

APP-10352466.FP.FTS.B,

19.99%,

10/18/26

..........................

12,176

12,140

APP-09029863.FP.FTS.B,

11.99%,

10/19/26

10,604

10,763

APP-10463389.FP.FTS.B,

12.49%,

10/20/26

..........................

35,023

35,520

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

235

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Freedom

Financial

Asset

Management

LLC

(continued)

APP-10091267.FP.FTS.B,

13.74%,

10/20/26

..........................

$

10,993

$

11,141

APP-10096145.FP.FTS.B,

14.24%,

10/20/26

..........................

21,638

21,956

APP-10568969.FP.FTS.B,

17.49%,

10/20/26

..........................

35,452

35,833

APP-10519975.FP.FTS.B,

20.99%,

10/20/26

..........................

29,855

29,802

APP-08440455.FP.FTS.B,

23.49%,

10/21/26

..........................

22,585

22,505

APP-10580822.FP.FTS.B,

18.49%,

10/22/26

..........................

17,802

17,767

APP-10518491.FP.FTS.B,

20.49%,

10/22/26

..........................

21,581

21,569

APP-10479074.FP.FTS.B,

22.49%,

10/22/26

..........................

12,304

12,265

APP-10520303.FP.FTS.B,

12.49%,

10/23/26

..........................

30,211

30,675

APP-10436820.FP.FTS.B,

19.99%,

10/23/26

..........................

12,929

12,891

APP-10459721.FP.FTS.B,

20.99%,

10/23/26

..........................

35,104

35,164

APP-10432275.FP.FTS.B,

12.49%,

10/24/26

..........................

30,014

30,479

APP-10463469.FP.FTS.B,

18.99%,

10/24/26

..........................

45,658

45,941

APP-10362761.FP.FTS.B,

22.99%,

10/24/26

..........................

14,663

14,613

APP-10364110.FP.FTS.B,

11.24%,

10/25/26

43,666

44,345

APP-10475943.FP.FTS.B,

14.74%,

10/25/26

..........................

35,744

36,284

APP-10476876.FP.FTS.B,

16.99%,

10/25/26

..........................

22,082

22,388

APP-10512737.FP.FTS.B,

17.49%,

10/25/26

..........................

18,211

18,351

APP-10455900.FP.FTS.B,

20.99%,

10/25/26

..........................

25,296

25,288

APP-10352703.FP.FTS.B,

11.99%,

10/26/26

22,297

22,654

APP-10352664.FP.FTS.B,

16.99%,

10/26/26

..........................

20,476

20,770

APP-10478982.FP.FTS.B,

21.49%,

10/26/26

..........................

16,854

16,834

APP-10511819.FP.FTS.B,

14.74%,

10/28/26

31,857

32,387

APP-10352498.FP.FTS.B,

18.49%,

10/28/26

..........................

12,426

12,522

APP-10479319.FP.FTS.B,

19.49%,

10/28/26

..........................

27,385

27,598

APP-10516614.FP.FTS.B,

11.99%,

10/29/26

20,576

20,864

APP-10352813.FP.FTS.B,

14.24%,

10/29/26

..........................

17,074

17,294

APP-10432641.FP.FTS.B,

15.49%,

10/29/26

..........................

27,650

27,943

APP-09940038.FP.FTS.B,

17.49%,

10/29/26

..........................

16,392

16,387

APP-10521838.FP.FTS.B,

17.99%,

10/29/26

..........................

24,144

24,139

APP-10459435.FP.FTS.B,

19.99%,

10/29/26

..........................

11,330

11,202

Description

Principal

Amount

Value

Freedom

Financial

Asset

Management

LLC

(continued)

APP-10482401.FP.FTS.B,

20.49%,

10/29/26

..........................

$

23,702

$

23,436

APP-10482607.FP.FTS.B,

22.49%,

10/29/26

..........................

9,234

9,135

APP-10527263.FP.FTS.B,

12.24%,

10/30/26

..........................

13,367

13,533

APP-10482600.FP.FTS.B,

16.49%,

10/30/26

..........................

10,381

10,527

APP-10481822.FP.FTS.B,

18.49%,

10/30/26

..........................

22,265

22,091

APP-10537549.FP.FTS.B,

11.99%,

11/02/26

24,891

25,226

APP-10583684.FP.FTS.B,

16.99%,

11/02/26

18,072

18,006

APP-10606158.FP.FTS.B,

14.74%,

11/05/26

25,123

25,367

APP-10551421.FP.FTS.B,

17.99%,

11/05/26

7,500

–

APP-10581119.FP.FTS.B,

20.99%,

11/05/26

33,595

19,856

APP-10624265.FP.FTS.B,

14.24%,

11/06/26

14,768

14,918

APP-11232283.FP.FTS.B,

19.49%,

11/07/26

37,421

37,484

APP-11307937.FP.FTS.B,

11.99%,

11/08/26

20,008

20,213

APP-11099818.FP.FTS.B,

16.49%,

11/09/26

10,841

10,913

APP-11236671.FP.FTS.B,

14.49%,

11/10/26

8,550

8,637

APP-10765319.FP.FTS.B,

14.49%,

11/11/26

6,684

6,765

APP-10621087.FP.FTS.B,

9.99%,

11/13/26

15,341

15,550

APP-11395641.FP.FTS.B,

11.99%,

11/14/26

25,028

25,294

APP-10679263.FP.FTS.B,

17.49%,

11/14/26

15,166

15,204

APP-10714394.FP.FTS.B,

11.99%,

11/15/26

26,583

26,937

APP-11363035.FP.FTS.B,

11.99%,

11/15/26

17,884

18,080

APP-10763123.FP.FTS.B,

13.24%,

11/15/26

44,476

45,072

APP-10662001.FP.FTS.B,

16.99%,

11/15/26

22,589

22,857

APP-10683702.FP.FTS.B,

17.49%,

11/15/26

28,854

29,242

APP-11304024.FP.FTS.B,

17.49%,

11/15/26

12,726

12,759

APP-10672023.FP.FTS.B,

18.49%,

11/15/26

18,156

18,044

APP-10683206.FP.FTS.B,

18.49%,

11/15/26

36,311

36,421

APP-10605959.FP.FTS.B,

19.99%,

11/15/26

38,300

38,334

APP-11314507.FP.FTS.B,

19.99%,

11/15/26

13,785

13,719

APP-11338199.FP.FTS.B,

20.99%,

11/15/26

27,401

27,199

APP-10688392.FP.FTS.B,

21.99%,

11/15/26

22,996

22,826

APP-11332760.FP.FTS.B,

22.49%,

11/15/26

8,980

8,897

APP-10315402.FP.FTS.B,

22.99%,

11/15/26

14,792

14,660

APP-10674729.FP.FTS.B,

23.49%,

11/15/26

40,651

8,946

APP-10718831.FP.FTS.B,

23.99%,

11/15/26

25,345

25,123

APP-11315766.FP.FTS.B,

24.49%,

11/15/26

27,113

6,031

APP-10606168.FP.FTS.B,

11.99%,

11/16/26

22,310

22,667

APP-10624425.FP.FTS.B,

11.99%,

11/16/26

18,804

19,083

APP-11251772.FP.FTS.B,

11.99%,

11/16/26

17,926

18,154

APP-10683987.FP.FTS.B,

12.49%,

11/16/26

35,695

36,230

APP-10689192.FP.FTS.B,

12.49%,

11/16/26

35,633

36,165

APP-10561131.FP.FTS.B,

17.49%,

11/16/26

31,422

31,811

APP-10679270.FP.FTS.B,

18.99%,

11/16/26

3,138

3,111

APP-10688549.FP.FTS.B,

18.99%,

11/16/26

28,566

28,520

APP-10643613.FP.FTS.B,

20.49%,

11/16/26

24,569

2,918

APP-11319641.FP.FTS.B,

19.49%,

11/17/26

10,964

10,957

APP-11254936.FP.FTS.B,

20.99%,

11/17/26

37,856

37,661

APP-10769646.FP.FTS.B,

11.99%,

11/18/26

23,482

23,810

APP-10768778.FP.FTS.B,

14.74%,

11/18/26

35,786

36,263

APP-11194609.FP.FTS.B,

18.49%,

11/18/26

20,821

20,822

APP-11277516.FP.FTS.B,

18.49%,

11/18/26

23,964

8,188

APP-11205636.FP.FTS.B,

19.99%,

11/18/26

17,761

17,758

APP-11125930.FP.FTS.B,

22.49%,

11/18/26

28,245

28,122

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

236

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Freedom

Financial

Asset

Management

LLC

(continued)

APP-11286200.FP.FTS.B,

22.49%,

11/18/26

$

7,105

$

7,097

APP-10754061.FP.FTS.B,

23.49%,

11/18/26

45,871

45,621

APP-11305757.FP.FTS.B,

11.99%,

11/19/26

22,452

22,759

APP-11237613.FP.FTS.B,

14.49%,

11/19/26

10,306

10,447

APP-11303292.FP.FTS.B,

16.49%,

11/19/26

9,084

9,198

APP-10673814.FP.FTS.B,

19.99%,

11/19/26

12,534

2,724

APP-11304254.FP.FTS.B,

21.49%,

11/19/26

45,846

45,742

APP-10692432.FP.FTS.B,

21.99%,

11/19/26

8,503

8,494

APP-11296028.FP.FTS.B,

23.49%,

11/19/26

47,065

46,433

APP-11131824.FP.FTS.B,

17.99%,

11/20/26

13,172

13,146

APP-10756837.FP.FTS.B,

18.99%,

11/20/26

30,398

30,413

APP-10756762.FP.FTS.B,

12.49%,

11/21/26

29,415

29,865

APP-10759731.FP.FTS.B,

16.99%,

11/21/26

39,115

39,327

APP-10750422.FP.FTS.B,

17.49%,

11/21/26

18,078

18,176

APP-10752847.FP.FTS.B,

18.99%,

11/21/26

11,190

3,541

APP-10767127.FP.FTS.B,

21.99%,

11/21/26

8,243

8,256

APP-10769483.FP.FTS.B,

17.99%,

11/22/26

26,506

26,655

APP-10769203.FP.FTS.B,

18.99%,

11/22/26

23,280

23,374

APP-10764525.FP.FTS.B,

20.49%,

11/22/26

16,883

16,858

APP-10624096.FP.FTS.B,

14.24%,

11/23/26

16,826

17,081

APP-10558557.FP.FTS.B,

17.99%,

11/23/26

39,133

39,731

APP-10780891.FP.FTS.B,

17.99%,

11/23/26

40,609

41,196

APP-10608955.FP.FTS.B,

19.49%,

11/23/26

46,304

46,421

APP-11103030.FP.FTS.B,

20.49%,

11/23/26

21,960

21,943

APP-10766953.FP.FTS.B,

21.49%,

11/23/26

46,158

46,267

APP-10692601.FP.FTS.B,

22.49%,

11/23/26

8,912

8,908

APP-10762415.FP.FTS.B,

17.99%,

11/24/26

12,696

12,680

APP-11304530.FP.FTS.B,

21.49%,

11/24/26

45,879

45,975

APP-10852925.FP.FTS.B,

11.99%,

11/25/26

24,777

25,127

APP-11373585.FP.FTS.B,

11.99%,

11/25/26

17,492

17,728

APP-11387591.FP.FTS.B,

14.49%,

11/25/26

8,709

8,824

APP-11333408.FP.FTS.B,

17.99%,

11/25/26

12,355

12,364

APP-10790084.FP.FTS.B,

18.49%,

11/25/26

17,224

17,221

APP-11386113.FP.FTS.B,

18.99%,

11/25/26

6,849

6,891

APP-11376149.FP.FTS.B,

20.99%,

11/25/26

17,388

17,316

APP-11309855.FP.FTS.B,

19.49%,

12/15/26

27,368

27,378

APP-10624530.FP.FTS.B,

24.99%,

12/15/26

..........................

32,950

32,671

APP-11693780.FP.FTS.B,

10.99%,

12/16/26

30,792

31,142

APP-11741440.FP.FTS.B,

19.99%,

12/16/26

9,653

9,645

APP-11806809.FP.FTS.B,

19.99%,

12/16/26

11,032

10,977

APP-11689215.FP.FTS.B,

14.74%,

12/18/26

27,733

28,015

APP-11301348.FP.FTS.B,

15.99%,

12/19/26

22,694

22,801

APP-11298390.FP.FTS.B,

20.99%,

12/19/26

14,742

14,415

APP-11316423.FP.FTS.B,

14.74%,

12/20/26

22,962

23,169

APP-10746025.FP.FTS.B,

16.49%,

12/20/26

..........................

11,637

11,770

APP-11304077.FP.FTS.B,

18.99%,

12/20/26

19,659

19,722

APP-11313044.FP.FTS.B,

19.99%,

12/20/26

9,165

9,194

APP-11312173.FP.FTS.B,

20.49%,

12/20/26

22,938

22,961

APP-11307115.FP.FTS.B,

21.99%,

12/20/26

24,533

24,425

APP-11283905.FP.FTS.B,

15.99%,

12/21/26

45,788

46,232

APP-11336215.FP.FTS.B,

17.99%,

12/21/26

7,288

7,357

APP-11339522.FP.FTS.B,

23.49%,

12/21/26

18,442

18,322

APP-11277746.FP.FTS.B,

25.49%,

12/21/26

9,258

9,202

APP-11187285.FP.FTS.B,

12.49%,

12/22/26

36,015

36,538

APP-11320504.FP.FTS.B,

17.99%,

12/22/26

18,441

18,470

APP-11740757.FP.FTS.B,

19.74%,

12/22/26

33,987

33,942

Description

Principal

Amount

Value

Freedom

Financial

Asset

Management

LLC

(continued)

APP-11275067.FP.FTS.B,

19.99%,

12/22/26

$

10,095

$

10,133

APP-11237793.FP.FTS.B,

18.99%,

12/23/26

10,058

10,100

APP-11798644.FP.FTS.B,

18.99%,

12/24/26

7,528

7,569

APP-11800198.FP.FTS.B,

16.99%,

12/25/26

18,149

18,354

APP-11318066.FP.FTS.B,

17.49%,

12/25/26

14,561

14,653

APP-11802820.FP.FTS.B,

18.49%,

12/25/26

15,427

15,374

APP-11194578.FP.FTS.B,

18.99%,

12/25/26

17,285

17,381

APP-11398271.FP.FTS.B,

12.49%,

12/26/26

33,128

33,606

APP-11283955.FP.FTS.B,

14.24%,

12/26/26

15,345

15,553

APP-11399469.FP.FTS.B,

16.49%,

12/26/26

13,626

13,793

APP-11395038.FP.FTS.B,

16.99%,

12/26/26

16,521

16,557

APP-11391376.FP.FTS.B,

19.99%,

12/26/26

19,252

19,216

APP-11397332.FP.FTS.B,

20.49%,

12/26/26

24,453

3,143

APP-11360195.FP.FTS.B,

20.99%,

12/26/26

29,391

29,491

APP-11361916.FP.FTS.B,

23.49%,

12/26/26

46,143

46,084

APP-11394769.FP.FTS.B,

24.49%,

12/26/26

29,222

29,182

APP-11305667.FP.FTS.B,

20.49%,

12/27/26

25,692

25,705

APP-11776378.FP.FTS.B,

20.49%,

12/27/26

36,857

36,856

APP-11124061.FP.FTS.B,

11.99%,

12/28/26

24,280

24,678

APP-11793842.FP.FTS.B,

12.99%,

12/28/26

12,284

12,426

APP-11807491.FP.FTS.B,

13.24%,

12/28/26

18,244

18,499

APP-11306747.FP.FTS.B,

14.24%,

12/28/26

14,630

14,816

APP-11740044.FP.FTS.B,

15.24%,

12/28/26

35,791

36,067

APP-10606291.FP.FTS.B,

18.49%,

12/28/26

..........................

19,400

19,520

APP-11800507.FP.FTS.B,

18.49%,

12/28/26

18,476

18,591

APP-11818506.FP.FTS.B,

18.49%,

12/28/26

19,204

19,320

APP-11306703.FP.FTS.B,

18.99%,

12/28/26

21,098

21,221

APP-11410923.FP.FTS.B,

23.49%,

12/28/26

9,221

9,205

APP-11789125.FP.FTS.B,

11.24%,

12/29/26

35,077

35,593

APP-11798578.FP.FTS.B,

11.74%,

12/29/26

41,412

42,043

APP-11745382.FP.FTS.B,

17.74%,

12/29/26

34,807

34,943

APP-11807330.FP.FTS.B,

17.99%,

12/29/26

9,350

9,475

APP-11791965.FP.FTS.B,

18.24%,

12/29/26

29,390

29,602

APP-11789087.FP.FTS.B,

18.99%,

12/29/26

14,041

14,139

APP-11703270.FP.FTS.B,

19.99%,

12/29/26

14,073

14,150

APP-11815201.FP.FTS.B,

10.99%,

12/30/26

25,464

25,777

APP-11266733.FP.FTS.B,

11.99%,

12/30/26

24,223

24,528

APP-11217813.FP.FTS.B,

14.24%,

12/30/26

21,414

21,692

APP-11285613.FP.FTS.B,

16.49%,

12/31/26

12,037

12,004

APP-11138919.FP.FTS.B,

11.99%,

1/01/27

13,647

13,846

APP-11036230.FP.FTS.B,

18.99%,

1/01/27

15,779

15,736

APP-11123890.FP.FTS.B,

18.99%,

1/01/27

16,313

16,287

APP-11277041.FP.FTS.B,

20.49%,

1/01/27

21,737

21,483

APP-11377526.FP.FTS.B,

20.49%,

1/01/27

22,348

22,218

APP-11089858.FP.FTS.B,

11.99%,

1/02/27

11,100

11,278

APP-11271721.FP.FTS.B,

11.99%,

1/02/27

15,570

15,798

APP-11038460.FP.FTS.B,

12.49%,

1/02/27

32,011

32,436

APP-11279541.FP.FTS.B,

12.49%,

1/02/27

32,727

33,217

APP-11193583.FP.FTS.B,

14.49%,

1/02/27

9,827

930

APP-11237906.FP.FTS.B,

14.99%,

1/02/27

19,423

19,640

APP-11315623.FP.FTS.B,

15.49%,

1/02/27

16,643

16,649

APP-11238373.FP.FTS.B,

16.99%,

1/02/27

10,555

10,541

APP-11008190.FP.FTS.B,

17.49%,

1/02/27

27,862

28,193

APP-10840208.FP.FTS.B,

18.49%,

1/02/27

15,456

15,273

APP-11301237.FP.FTS.B,

18.49%,

1/02/27

17,001

16,832

APP-11319315.FP.FTS.B,

19.99%,

1/02/27

9,350

9,306

APP-11242662.FP.FTS.B,

21.49%,

1/02/27

40,038

39,625

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

237

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Freedom

Financial

Asset

Management

LLC

(continued)

APP-11304132.FP.FTS.B,

22.99%,

1/02/27

$

15,000

$

–

APP-11314953.FP.FTS.B,

11.99%,

1/03/27

28,898

29,289

APP-11341268.FP.FTS.B,

12.49%,

1/03/27

36,617

37,114

APP-11194668.FP.FTS.B,

14.24%,

1/03/27

17,492

17,705

APP-11333109.FP.FTS.B,

15.99%,

1/03/27

21,649

21,626

APP-11333811.FP.FTS.B,

16.99%,

1/03/27

13,906

13,859

APP-11265912.FP.FTS.B,

17.49%,

1/03/27

11,715

11,732

APP-11196657.FP.FTS.B,

17.99%,

1/03/27

23,275

23,311

APP-11329490.FP.FTS.B,

17.99%,

1/03/27

9,341

9,311

APP-11317083.FP.FTS.B,

20.49%,

1/03/27

9,840

9,731

APP-11313333.FP.FTS.B,

20.99%,

1/03/27

28,254

28,103

APP-11323384.FP.FTS.B,

12.74%,

1/04/27

30,416

30,789

APP-11332983.FP.FTS.B,

18.99%,

1/04/27

13,983

13,947

APP-11332621.FP.FTS.B,

19.99%,

1/04/27

13,997

13,915

APP-11399720.FP.FTS.B,

21.49%,

1/04/27

19,766

12,355

APP-11355890.FP.FTS.B,

14.74%,

1/07/27

36,821

37,273

APP-11306682.FP.FTS.B,

17.49%,

1/07/27

18,847

18,944

APP-11389311.FP.FTS.B,

17.49%,

1/07/27

37,128

37,582

APP-11333372.FP.FTS.B,

18.49%,

1/07/27

18,034

17,898

APP-11375423.FP.FTS.B,

18.49%,

1/07/27

19,651

19,512

APP-11393178.FP.FTS.B,

18.99%,

1/07/27

13,974

13,974

APP-11387733.FP.FTS.B,

19.99%,

1/07/27

9,550

3,029

APP-11396589.FP.FTS.B,

20.49%,

1/07/27

14,806

14,573

APP-11370718.FP.FTS.B,

23.49%,

1/07/27

18,826

18,635

APP-10550902.FP.FTS.B,

9.99%,

1/08/27

.

28,018

28,479

APP-11306719.FP.FTS.B,

11.99%,

1/08/27

14,562

14,780

APP-11128695.FP.FTS.B,

14.49%,

1/08/27

6,912

7,022

APP-11304753.FP.FTS.B,

16.99%,

1/08/27

14,323

14,467

APP-11390583.FP.FTS.B,

17.99%,

1/08/27

46,494

46,509

APP-11333322.FP.FTS.B,

18.49%,

1/08/27

21,507

21,356

APP-11385154.FP.FTS.B,

18.99%,

1/08/27

13,957

13,936

APP-11396135.FP.FTS.B,

18.99%,

1/08/27

22,563

22,530

APP-11396422.FP.FTS.B,

18.99%,

1/08/27

17,245

17,255

APP-10916969.FP.FTS.B,

19.99%,

1/08/27

10,056

10,064

APP-11302708.FP.FTS.B,

20.49%,

1/08/27

23,274

23,190

APP-11278827.FP.FTS.B,

20.99%,

1/08/27

11,333

11,236

APP-11394701.FP.FTS.B,

21.49%,

1/08/27

23,458

23,227

APP-11393205.FP.FTS.B,

21.99%,

1/08/27

9,366

9,346

APP-11397396.FP.FTS.B,

21.99%,

1/08/27

7,041

7,028

APP-11294990.FP.FTS.B,

22.49%,

1/08/27

11,334

11,238

APP-11392548.FP.FTS.B,

22.99%,

1/08/27

13,709

13,531

APP-11283833.FP.FTS.B,

14.24%,

1/09/27

23,530

23,871

APP-11373885.FP.FTS.B,

14.49%,

1/09/27

9,682

9,823

APP-11395025.FP.FTS.B,

15.49%,

1/09/27

15,902

15,945

APP-11394790.FP.FTS.B,

15.99%,

1/09/27

23,737

13,367

APP-11380536.FP.FTS.B,

17.49%,

1/09/27

18,587

18,648

APP-11398203.FP.FTS.B,

17.49%,

1/09/27

15,771

15,793

APP-11381570.FP.FTS.B,

17.99%,

1/09/27

7,443

7,543

APP-11396072.FP.FTS.B,

22.99%,

1/09/27

15,726

15,586

APP-11335531.FP.FTS.B,

16.99%,

1/10/27

16,774

16,792

APP-11408867.FP.FTS.B,

20.49%,

1/10/27

27,195

27,248

APP-11388598.FP.FTS.B,

11.99%,

1/11/27

22,889

23,228

APP-11413232.FP.FTS.B,

14.99%,

1/11/27

23,121

23,424

APP-12243964.FP.FTS.B,

19.99%,

1/15/27

13,958

13,893

APP-12232521.FP.FTS.B,

19.99%,

1/18/27

13,061

13,010

APP-12266273.FP.FTS.B,

23.74%,

1/18/27

24,877

24,723

APP-12233402.FP.FTS.B,

21.49%,

1/20/27

17,211

17,156

APP-12242769.FP.FTS.B,

19.99%,

1/22/27

14,757

14,749

Description

Principal

Amount

Value

Freedom

Financial

Asset

Management

LLC

(continued)

APP-12250959.FP.FTS.B,

11.74%,

1/25/27

$

46,151

$

46,826

APP-12185049.FP.FTS.B,

19.99%,

1/25/27

11,238

11,252

APP-12245776.FP.FTS.B,

22.49%,

1/25/27

12,221

12,210

APP-12231521.FP.FTS.B,

17.24%,

1/26/27

34,079

34,333

APP-12146298.FP.FTS.B,

8.99%,

1/27/27

.

35,701

36,223

APP-12251026.FP.FTS.B,

11.24%,

1/27/27

14,569

14,791

APP-12252003.FP.FTS.B,

13.49%,

1/27/27

13,897

14,094

APP-12244510.FP.FTS.B,

17.49%,

1/27/27

14,005

14,116

APP-12151284.FP.FTS.B,

17.99%,

1/27/27

18,689

18,737

APP-12241564.FP.FTS.B,

19.99%,

1/27/27

23,039

23,164

APP-12247637.FP.FTS.B,

19.99%,

1/27/27

29,630

29,669

APP-12243989.FP.FTS.B,

21.99%,

1/27/27

9,219

9,262

APP-12264916.FP.FTS.B,

11.24%,

1/28/27

14,184

14,393

APP-12268604.FP.FTS.B,

19.99%,

1/28/27

13,709

1,653

APP-12269168.FP.FTS.B,

22.49%,

1/28/27

9,909

9,937

APP-11799028.FP.FTS.B,

9.24%,

1/31/27

.

18,385

18,615

APP-11801033.FP.FTS.B,

11.24%,

2/01/27

28,746

29,082

APP-11772938.FP.FTS.B,

16.49%,

2/01/27

18,669

18,854

APP-11804078.FP.FTS.B,

16.49%,

2/01/27

26,603

26,866

APP-11693698.FP.FTS.B,

16.74%,

2/02/27

46,719

47,181

APP-11807428.FP.FTS.B,

17.99%,

2/03/27

8,434

8,522

APP-11795116.FP.FTS.B,

11.74%,

2/04/27

24,069

24,366

APP-11791702.FP.FTS.B,

13.24%,

2/05/27

28,037

28,455

APP-11785699.FP.FTS.B,

18.99%,

2/05/27

15,365

15,365

APP-11800708.FP.FTS.B,

19.99%,

2/07/27

13,300

13,273

APP-11753813.FP.FTS.B,

9.24%,

2/09/27

.

13,829

14,033

APP-11798862.FP.FTS.B,

16.49%,

2/09/27

12,178

12,333

APP-11810406.FP.FTS.B,

11.74%,

2/10/27

46,387

47,116

APP-11798675.FP.FTS.B,

15.49%,

2/10/27

13,670

13,722

APP-11810344.FP.FTS.B,

17.49%,

2/10/27

24,702

24,809

APP-11800371.FP.FTS.B,

19.74%,

2/10/27

37,772

37,759

APP-11742033.FP.FTS.B,

19.99%,

2/10/27

8,761

8,784

APP-11787878.FP.FTS.B,

19.99%,

2/10/27

7,086

7,105

APP-11800806.FP.FTS.B,

19.99%,

2/10/27

26,441

15,679

APP-11238314.FP.FTS.B,

25.49%,

2/10/27

6,949

6,865

APP-11805029.FP.FTS.B,

25.49%,

2/10/27

9,550

9,491

APP-11740981.FP.FTS.B,

9.24%,

2/11/27

.

14,923

7,460

APP-11779303.FP.FTS.B,

10.99%,

2/11/27

18,528

18,821

APP-11496336.FP.FTS.B,

11.24%,

2/11/27

15,753

16,000

APP-11791248.FP.FTS.B,

11.24%,

2/11/27

37,079

37,613

APP-11799511.FP.FTS.B,

13.49%,

2/11/27

13,861

14,071

APP-11496149.FP.FTS.B,

13.74%,

2/11/27

7,975

8,062

APP-11823747.FP.FTS.B,

13.74%,

2/11/27

10,679

10,854

APP-11694481.FP.FTS.B,

16.49%,

2/11/27

12,162

12,318

APP-11788952.FP.FTS.B,

16.49%,

2/11/27

14,074

14,269

APP-11795686.FP.FTS.B,

16.49%,

2/11/27

14,439

14,639

APP-11779953.FP.FTS.B,

16.74%,

2/11/27

46,940

47,594

APP-11794602.FP.FTS.B,

17.49%,

2/11/27

15,000

–

APP-11815802.FP.FTS.B,

17.49%,

2/11/27

15,977

16,053

APP-11769543.FP.FTS.B,

18.24%,

2/11/27

28,136

28,208

APP-11238359.FP.FTS.B,

18.99%,

2/11/27

25,471

25,547

APP-11789582.FP.FTS.B,

19.49%,

2/11/27

12,445

12,447

APP-11805082.FP.FTS.B,

19.49%,

2/11/27

19,928

19,931

APP-11779274.FP.FTS.B,

19.99%,

2/11/27

24,444

24,443

APP-11804667.FP.FTS.B,

19.99%,

2/11/27

20,373

20,457

APP-11806256.FP.FTS.B,

19.99%,

2/11/27

4,009

3,971

APP-11803514.FP.FTS.B,

10.99%,

2/12/27

18,538

18,836

APP-11807542.FP.FTS.B,

10.99%,

2/12/27

37,069

37,665

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

238

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Freedom

Financial

Asset

Management

LLC

(continued)

APP-11793986.FP.FTS.B,

11.24%,

2/12/27

$

13,446

$

13,663

APP-11794207.FP.FTS.B,

11.49%,

2/12/27

13,918

14,124

APP-11694425.FP.FTS.B,

11.74%,

2/12/27

39,377

40,012

APP-11794186.FP.FTS.B,

14.74%,

2/12/27

46,753

47,394

APP-11799332.FP.FTS.B,

17.49%,

2/12/27

13,092

13,092

APP-11801305.FP.FTS.B,

18.24%,

2/12/27

33,696

33,903

APP-11798052.FP.FTS.B,

18.49%,

2/12/27

27,687

27,592

APP-11753796.FP.FTS.B,

19.99%,

2/12/27

14,135

14,087

APP-11803618.FP.FTS.B,

19.99%,

2/12/27

17,109

17,121

APP-11805436.FP.FTS.B,

22.49%,

2/12/27

9,509

9,487

APP-12237250.FP.FTS.B,

10.99%,

3/01/27

37,474

38,003

APP-11579250.FP.FTS.B,

11.24%,

3/01/27

32,752

33,181

APP-12280379.FP.FTS.B,

16.49%,

3/01/27

18,601

18,533

APP-12236364.FP.FTS.B,

17.24%,

3/01/27

35,625

35,711

APP-12228409.FP.FTS.B,

19.99%,

3/01/27

12,639

12,552

APP-12245849.FP.FTS.B,

19.99%,

3/01/27

16,215

16,169

APP-12263763.FP.FTS.B,

22.49%,

3/01/27

32,323

31,962

APP-12273250.FP.FTS.B,

22.49%,

3/01/27

10,525

–

APP-12106034.FP.FTS.B,

11.24%,

3/04/27

21,987

22,280

APP-12189756.FP.FTS.B,

18.24%,

3/04/27

29,998

30,028

APP-12231816.FP.FTS.B,

19.49%,

3/04/27

13,326

13,226

APP-12180444.FP.FTS.B,

25.49%,

3/04/27

9,573

9,494

APP-12262293.FP.FTS.B,

10.99%,

3/05/27

31,672

32,141

APP-12243171.FP.FTS.B,

16.24%,

3/05/27

30,525

30,907

APP-12247272.FP.FTS.B,

22.24%,

3/06/27

26,806

26,649

APP-12172287.FP.FTS.B,

19.99%,

3/07/27

15,298

15,367

APP-12017319.FP.FTS.B,

10.99%,

3/09/27

30,099

30,585

APP-12228513.FP.FTS.B,

20.24%,

3/09/27

26,768

26,649

APP-12130498.FP.FTS.B,

13.24%,

3/10/27

20,068

20,385

APP-12212103.FP.FTS.B,

16.49%,

3/10/27

20,093

20,392

APP-12241977.FP.FTS.B,

16.74%,

3/10/27

42,721

22,078

APP-12250953.FP.FTS.B,

17.74%,

3/10/27

38,089

38,131

APP-12077324.FP.FTS.B,

17.99%,

3/10/27

24,674

24,609

APP-12262171.FP.FTS.B,

19.99%,

3/10/27

9,347

9,368

APP-12271712.FP.FTS.B,

20.99%,

3/10/27

12,439

2,702

APP-12184632.FP.FTS.B,

16.49%,

3/11/27

14,257

14,474

APP-12213871.FP.FTS.B,

19.99%,

3/11/27

19,135

19,107

APP-11800362.FP.FTS.B,

25.49%,

3/11/27

10,514

10,456

APP-11799128.FP.FTS.B,

10.99%,

3/12/27

20,956

21,313

APP-12244387.FP.FTS.B,

11.24%,

3/12/27

29,706

30,173

APP-12250156.FP.FTS.B,

11.74%,

3/12/27

47,089

47,905

APP-12243023.FP.FTS.B,

17.49%,

3/12/27

24,773

24,951

APP-12253652.FP.FTS.B,

17.49%,

3/12/27

15,561

3,096

APP-12222272.FP.FTS.B,

18.49%,

3/12/27

5,004

4,966

APP-12245031.FP.FTS.B,

19.99%,

3/12/27

23,933

23,913

APP-12248151.FP.FTS.B,

19.99%,

3/12/27

21,121

13,105

APP-11821897.FP.FTS.B,

25.49%,

3/12/27

7,180

7,158

APP-12246518.FP.FTS.B,

13.24%,

3/13/27

21,171

21,527

APP-12236483.FP.FTS.B,

15.24%,

3/13/27

37,821

38,070

APP-11238158.FP.FTS.B,

16.49%,

3/13/27

20,994

21,139

APP-12050299.FP.FTS.B,

17.99%,

3/13/27

10,271

10,307

APP-12249881.FP.FTS.B,

19.99%,

3/13/27

13,411

13,459

APP-12236765.FP.FTS.B,

21.49%,

3/13/27

14,155

14,133

APP-12222310.FP.FTS.B,

18.24%,

3/14/27

40,119

40,253

APP-12260011.FP.FTS.B,

18.24%,

3/14/27

33,359

33,495

APP-12213071.FP.FTS.B,

22.49%,

4/13/27

36,382

36,325

APP-12241288.FP.FTS.B,

22.99%,

4/13/27

47,396

47,228

Description

Principal

Amount

Value

Freedom

Financial

Asset

Management

LLC

(continued)

$

25,164,911

LendingClub

Corp.

-

LCX

161755229.LC.FTS.B,

6.46%,

11/12/22

...

$

4,714

4,701

162155933.LC.FTS.B,

8.19%,

11/21/22

...

3,647

3,579

162183906.LC.FTS.B,

Zero

Cpn,

11/22/22

2,578

233

162235860.LC.FTS.B,

10.33%,

11/22/22

..

381

380

161704230.LC.FTS.B,

13.08%,

11/22/22

..

12,501

11,707

162438385.LC.FTS.B,

14.3%,

11/26/22

...

5,556

5,443

162236067.LC.FTS.B,

13.08%,

11/29/22

..

4,759

4,741

162691230.LC.FTS.B,

10.33%,

12/03/22

..

10,742

10,548

162633514.LC.FTS.B,

13.08%,

12/03/22

..

4,898

4,862

163123524.LC.FTS.B,

6.46%,

12/13/22

...

1,507

1,500

162038214.LC.FTS.B,

7.56%,

12/13/22

...

4,338

4,296

161924848.LC.FTS.B,

8.19%,

12/13/22

...

3,079

3,063

163023181.LC.FTS.B,

8.81%,

12/13/22

...

650

648

163087577.LC.FTS.B,

11.71%,

12/13/22

..

3,213

3,193

163423054.LC.FTS.B,

7.56%,

12/17/22

...

1,528

1,520

163434307.LC.FTS.B,

11.71%,

12/17/22

..

590

581

163548042.LC.FTS.B,

6.46%,

12/19/22

...

10,338

9,648

163589300.LC.FTS.B,

7.56%,

12/19/22

...

894

860

163632898.LC.FTS.B,

6.46%,

12/20/22

...

12,735

1,193

163629418.LC.FTS.B,

11.02%,

12/23/22

..

4,780

4,756

163822655.LC.FTS.B,

13.08%,

12/24/22

..

1,796

1,787

163825750.LC.FTS.B,

20.55%,

12/26/22

..

2,182

2,184

164028463.LC.FTS.B,

10.33%,

12/30/22

..

7,550

7,457

164037541.LC.FTS.B,

10.33%,

12/30/22

..

1,302

1,287

162903601.LC.FTS.B,

12.4%,

12/30/22

...

7,732

7,640

164094705.LC.FTS.B,

20.55%,

12/30/22

..

3,386

3,369

164073339.LC.FTS.B,

14.3%,

12/31/22

...

3,077

3,012

164136024.LC.FTS.B,

8.81%,

1/03/23

...

5,582

5,531

164285377.LC.FTS.B,

14.3%,

1/03/23

...

8,731

8,285

164140916.LC.FTS.B,

14.3%,

1/07/23

...

1,198

1,147

164583230.LC.FTS.B,

6.46%,

1/10/23

...

8,832

8,724

164604215.LC.FTS.B,

7.56%,

1/10/23

...

1,200

1,192

164377342.LC.FTS.B,

8.81%,

1/10/23

...

7,421

7,354

164499922.LC.FTS.B,

8.81%,

1/10/23

...

5,193

5,155

164650755.LC.FTS.B,

10.33%,

1/10/23

...

1,899

1,873

164580459.LC.FTS.B,

11.02%,

1/10/23

...

2,766

497

164601035.LC.FTS.B,

13.08%,

1/10/23

...

4,875

4,809

164697305.LC.FTS.B,

15.24%,

1/10/23

...

14,485

13,837

164684956.LC.FTS.B,

16.12%,

1/10/23

...

403

400

164509815.LC.FTS.B,

16.95%,

1/10/23

...

2,492

2,460

164676050.LC.FTS.B,

6.46%,

1/14/23

...

7,215

7,163

164869691.LC.FTS.B,

6.46%,

1/14/23

...

2,505

2,352

164793469.LC.FTS.B,

7.56%,

1/14/23

...

5,683

5,642

164148303.LC.FTS.B,

8.19%,

1/14/23

...

2,398

2,381

164841930.LC.FTS.B,

10.33%,

1/14/23

...

2,832

2,804

164526400.LC.FTS.B,

12.4%,

1/14/23

...

1,098

1,086

164752026.LC.FTS.B,

13.08%,

1/14/23

...

5,499

5,356

164665238.LC.FTS.B,

10.33%,

1/17/23

...

2,998

2,964

164939612.LC.FTS.B,

12.4%,

1/17/23

...

5,729

5,609

165024772.LC.FTS.B,

13.08%,

1/17/23

...

1,072

1,062

165147890.LC.FTS.B,

10.33%,

1/21/23

...

2,509

2,491

164275670.LC.FTS.B,

16.12%,

1/21/23

...

2,022

2,004

165291952.LC.FTS.B,

16.95%,

1/21/23

...

3,202

3,165

165459089.LC.FTS.B,

14.3%,

1/23/23

...

3,557

3,539

165138625.LC.FTS.B,

6.46%,

1/24/23

...

1,216

1,209

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

239

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

LendingClub

Corp.

-

LCX

(continued)

164995310.LC.FTS.B,

13.08%,

1/24/23

...

$

1,033

$

1,024

165360980.LC.FTS.B,

17.74%,

1/24/23

...

2,177

728

163902257.LC.FTS.B,

16.12%,

1/27/23

...

4,841

4,820

165584619.LC.FTS.B,

17.74%,

1/27/23

...

1,463

1,435

165498935.LC.FTS.B,

6.46%,

1/28/23

...

7,215

7,166

165746807.LC.FTS.B,

6.46%,

1/28/23

...

721

716

165021303.LC.FTS.B,

7.02%,

1/28/23

...

6,687

6,641

165736531.LC.FTS.B,

7.02%,

1/30/23

...

2,222

2,149

165130758.LC.FTS.B,

6.46%,

1/31/23

...

5,653

5,430

165920964.LC.FTS.B,

7.02%,

1/31/23

...

5,204

5,007

166741999.LC.FTS.B,

17.74%,

2/18/23

...

238

230

166372697.LC.FTS.B,

17.74%,

2/19/23

...

1,896

1,790

167045062.LC.FTS.B,

20.55%,

2/20/23

...

4,295

4,215

167046067.LC.FTS.B,

20.55%,

2/20/23

...

2,518

2,431

167037232.LC.FTS.B,

23.05%,

2/20/23

...

1,358

1,359

167149200.LC.FTS.B,

16.12%,

2/21/23

...

467

463

166622143.LC.FTS.B,

20.55%,

2/21/23

...

1,225

1,226

167007080.LC.FTS.B,

20.55%,

2/21/23

...

735

736

167079353.LC.FTS.B,

23.05%,

2/21/23

...

2,515

2,517

167003367.LC.FTS.B,

25.65%,

2/21/23

...

25,109

11,836

167210728.LC.FTS.B,

11.71%,

2/24/23

...

668

648

167134704.LC.FTS.B,

13.08%,

2/24/23

...

7,916

7,820

166330132.LC.FTS.B,

16.95%,

2/24/23

...

4,061

4,001

167180462.LC.FTS.B,

16.95%,

2/24/23

...

1,339

1,313

167156729.LC.FTS.B,

17.74%,

2/24/23

...

2,378

2,360

165498269.LC.FTS.B,

23.05%,

2/24/23

...

1,876

1,855

167474153.LC.FTS.B,

8.81%,

2/27/23

...

8,499

7,495

167498735.LC.FTS.B,

10.33%,

2/28/23

...

2,072

1,957

167658700.LC.FTS.B,

20.55%,

3/03/23

...

1,939

1,913

167814487.LC.FTS.B,

8.19%,

3/05/23

...

13,065

10,984

167898599.LC.FTS.B,

8.81%,

3/06/23

...

1,767

1,717

167019591.LC.FTS.B,

7.56%,

3/11/23

....

6,642

6,319

168556644.LC.FTS.B,

16.95%,

3/20/23

...

976

956

155233113.LC.FTS.B,

10.33%,

7/16/24

...

17,832

16,930

157826557.LC.FTS.B,

12.4%,

9/03/24

...

13,617

12,296

156733268.LC.FTS.B,

13.08%,

9/03/24

...

7,354

7,132

161569311.LC.FTS.B,

8.19%,

11/12/24

...

20,790

20,271

161667236.LC.FTS.B,

8.19%,

11/12/24

...

17,078

16,680

160977025.LC.FTS.B,

12.4%,

11/12/24

...

19,995

19,193

162545418.LC.FTS.B,

8.19%,

12/06/24

...

19,673

19,165

162876938.LC.FTS.B,

8.81%,

12/06/24

...

12,375

12,055

161914714.LC.FTS.B,

18.62%,

12/06/24

..

17,918

17,221

163145010.LC.FTS.B,

11.02%,

12/13/24

..

22,225

21,172

163477091.LC.FTS.B,

11.02%,

12/17/24

..

16,573

15,826

163438663.LC.FTS.B,

16.95%,

12/17/24

..

23,495

22,427

163620572.LC.FTS.B,

20.55%,

12/20/24

..

15,613

11,810

163257946.LC.FTS.B,

13.08%,

12/24/24

..

19,673

18,603

163856054.LC.FTS.B,

8.19%,

12/26/24

...

13,356

12,381

164033983.LC.FTS.B,

8.19%,

12/30/24

...

14,872

13,582

163849354.LC.FTS.B,

11.71%,

12/30/24

..

4,600

4,382

163973756.LC.FTS.B,

12.4%,

12/30/24

...

23,301

22,148

163877923.LC.FTS.B,

13.08%,

12/31/24

..

15,066

5,232

163663218.LC.FTS.B,

20.55%,

12/31/24

..

15,153

5,778

163859690.LC.FTS.B,

16.95%,

1/03/25

...

12,073

10,906

164222970.LC.FTS.B,

8.19%,

1/07/25

...

22,033

21,416

163371603.LC.FTS.B,

10.33%,

1/13/25

...

6,169

5,484

164800330.LC.FTS.B,

8.19%,

1/14/25

...

22,033

21,426

164807302.LC.FTS.B,

8.81%,

1/14/25

...

22,197

21,563

Description

Principal

Amount

Value

LendingClub

Corp.

-

LCX

(continued)

165157005.LC.FTS.B,

14.3%,

1/21/25

...

$

15,430

$

14,629

165333612.LC.FTS.B,

11.71%,

1/23/25

...

6,868

6,244

165466503.LC.FTS.B,

13.08%,

1/23/25

...

11,136

9,653

165427525.LC.FTS.B,

14.3%,

1/23/25

...

8,860

8,423

165450743.LC.FTS.B,

16.95%,

1/23/25

...

19,238

18,322

165461334.LC.FTS.B,

14.3%,

1/24/25

...

3,527

3,350

164424854.LC.FTS.B,

16.12%,

1/24/25

...

10,778

10,235

165533845.LC.FTS.B,

16.12%,

1/24/25

...

14,370

13,667

165509821.LC.FTS.B,

11.71%,

1/27/25

...

8,159

7,138

165508383.LC.FTS.B,

15.24%,

1/27/25

...

20,774

19,734

165618377.LC.FTS.B,

8.81%,

1/28/25

...

7,210

6,498

165799463.LC.FTS.B,

12.4%,

1/30/25

...

7,809

6,939

165490643.LC.FTS.B,

18.62%,

2/04/25

...

20,244

19,143

166868646.LC.FTS.B,

16.12%,

2/18/25

...

3,074

2,783

166989795.LC.FTS.B,

20.55%,

2/20/25

...

20,438

19,514

167033130.LC.FTS.B,

20.55%,

2/20/25

...

6,725

6,446

166977058.LC.FTS.B,

23.05%,

2/20/25

...

10,382

7,975

166998287.LC.FTS.B,

23.05%,

2/20/25

...

7,847

7,520

166995526.LC.FTS.B,

25.65%,

2/20/25

...

10,765

10,288

166982249.LC.FTS.B,

20.55%,

2/21/25

...

7,686

7,367

167077001.LC.FTS.B,

23.05%,

2/21/25

...

3,600

3,450

167165051.LC.FTS.B,

16.12%,

2/24/25

...

6,149

5,837

167008405.LC.FTS.B,

16.95%,

2/24/25

...

20,454

19,373

167016743.LC.FTS.B,

16.95%,

2/24/25

...

19,925

18,914

166619009.LC.FTS.B,

20.55%,

2/24/25

...

16,012

15,354

167294071.LC.FTS.B,

13.08%,

2/25/25

...

3,342

3,042

166104484.LC.FTS.B,

14.3%,

2/27/25

...

17,140

14,985

168170703.LC.FTS.B,

8.19%,

3/13/25

...

9,093

8,194

168563219.LC.FTS.B,

8.81%,

3/19/25

...

13,185

12,055

168657342.LC.FTS.B,

11.71%,

4/14/25

...

16,501

14,669

1,022,356

LendingClub

Corp.

-

LCX

PM

171017047.LC.FTS.B,

8.46%,

10/07/23

...

6,714

6,379

171046663.LC.FTS.B,

9.56%,

10/07/23

...

8,129

7,820

171036531.LC.FTS.B,

10.81%,

10/07/23

..

2,281

2,194

170880199.LC.FTS.B,

16.08%,

10/07/23

..

2,002

1,977

170882145.LC.FTS.B,

8.46%,

10/09/23

...

6,714

6,459

170824911.LC.FTS.B,

9.02%,

10/09/23

...

8,992

8,607

171260087.LC.FTS.B,

10.19%,

10/16/23

..

4,716

4,614

171209679.LC.FTS.B,

10.81%,

10/16/23

..

4,508

4,390

171295682.LC.FTS.B,

14.71%,

10/16/23

..

2,352

2,251

171594396.LC.FTS.B,

8.46%,

10/29/23

...

3,703

3,544

171339542.LC.FTS.B,

10.81%,

10/29/23

..

1,482

1,410

171698001.LC.FTS.B,

10.81%,

11/04/23

..

14,534

13,952

171752223.LC.FTS.B,

8.46%,

11/06/23

...

3,330

3,172

171793496.LC.FTS.B,

8.46%,

11/10/23

...

14,209

13,647

171902167.LC.FTS.B,

8.46%,

11/10/23

...

5,709

5,466

171872747.LC.FTS.B,

9.02%,

11/10/23

...

9,557

9,050

171898688.LC.FTS.B,

10.81%,

11/10/23

..

12,111

11,717

171921256.LC.FTS.B,

13.33%,

11/10/23

..

9,931

9,462

171938996.LC.FTS.B,

14.71%,

11/10/23

..

748

726

171895455.LC.FTS.B,

9.56%,

11/12/23

...

6,551

6,354

171343880.LC.FTS.B,

10.81%,

11/12/23

..

1,209

1,187

171440597.LC.FTS.B,

8.46%,

11/13/23

...

2,599

2,490

171972764.LC.FTS.B,

8.46%,

11/13/23

...

7,136

6,943

171991292.LC.FTS.B,

9.02%,

11/13/23

...

5,734

5,504

171997415.LC.FTS.B,

9.02%,

11/13/23

...

2,389

2,324

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

240

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

LendingClub

Corp.

-

LCX

PM

(continued)

171404953.LC.FTS.B,

10.19%,

11/13/23

..

$

1,931

$

1,863

171927180.LC.FTS.B,

10.81%,

11/13/23

..

8,730

8,158

172021697.LC.FTS.B,

10.81%,

11/13/23

..

11,627

11,368

171698236.LC.FTS.B,

8.46%,

11/16/23

...

499

496

171994710.LC.FTS.B,

9.56%,

11/16/23

...

697

688

172292139.LC.FTS.B,

10.19%,

12/02/23

..

12,755

12,451

172486420.LC.FTS.B,

19.95%,

12/02/23

..

1,224

1,178

172543832.LC.FTS.B,

10.81%,

12/03/23

..

717

699

172518768.LC.FTS.B,

10.81%,

12/07/23

..

6,150

5,874

172591096.LC.FTS.B,

10.81%,

12/07/23

..

3,709

3,550

172672091.LC.FTS.B,

14.02%,

12/07/23

..

3,146

3,051

172540829.LC.FTS.B,

18.24%,

12/07/23

..

4,372

4,205

172464877.LC.FTS.B,

14.02%,

12/15/23

..

14,859

14,451

173021253.LC.FTS.B,

10.19%,

12/18/23

..

6,632

6,443

173069321.LC.FTS.B,

17.3%,

12/18/23

...

2,682

2,608

173107270.LC.FTS.B,

17.3%,

12/18/23

...

1,073

1,043

173106203.LC.FTS.B,

20.74%,

12/18/23

..

9,304

9,043

173100997.LC.FTS.B,

14.02%,

12/21/23

..

18,420

17,863

173000593.LC.FTS.B,

14.71%,

12/21/23

..

14,226

13,704

172326263.LC.FTS.B,

14.02%,

12/22/23

..

5,243

5,069

173208716.LC.FTS.B,

17.3%,

12/22/23

...

4,076

394

173076663.LC.FTS.B,

19.12%,

12/22/23

..

5,213

5,074

173431262.LC.FTS.B,

Zero

Cpn,

12/30/23

1,750

168

173399124.LC.FTS.B,

16.08%,

12/30/23

..

5,595

5,409

173365718.LC.FTS.B,

17.3%,

12/30/23

...

5,640

5,431

173415544.LC.FTS.B,

19.12%,

12/30/23

..

535

515

173378319.LC.FTS.B,

14.71%,

12/31/23

..

3,325

3,156

173388155.LC.FTS.B,

17.3%,

12/31/23

...

845

814

173431392.LC.FTS.B,

19.12%,

12/31/23

..

2,850

2,745

172968764.LC.FTS.B,

16.08%,

1/04/24

...

3,358

3,265

173462475.LC.FTS.B,

19.95%,

1/04/24

...

9,179

8,848

172830533.LC.FTS.B,

20.74%,

1/04/24

...

3,507

3,374

173725842.LC.FTS.B,

16.08%,

1/12/24

...

18,129

17,573

173506829.LC.FTS.B,

20.74%,

1/12/24

...

2,436

325

174118594.LC.FTS.B,

11.34%,

1/26/24

...

8,676

8,380

174048004.LC.FTS.B,

12.49%,

1/26/24

...

5,465

5,211

174098325.LC.FTS.B,

12.49%,

1/26/24

...

15,301

14,550

174028958.LC.FTS.B,

14.99%,

1/26/24

...

19,100

18,155

174181203.LC.FTS.B,

16.99%,

1/26/24

...

1,013

999

173559970.LC.FTS.B,

20.74%,

1/26/24

...

9,964

9,669

174138465.LC.FTS.B,

8.59%,

1/28/24

...

9,577

9,149

173990194.LC.FTS.B,

13.99%,

1/28/24

...

4,416

4,283

174205068.LC.FTS.B,

13.99%,

1/28/24

...

8,279

8,163

173995037.LC.FTS.B,

16.19%,

1/28/24

...

672

663

173720769.LC.FTS.B,

16.99%,

1/28/24

...

13,510

13,335

173938930.LC.FTS.B,

16.99%,

1/28/24

...

4,263

4,172

173993696.LC.FTS.B,

19.49%,

1/28/24

...

20,024

19,687

174096433.LC.FTS.B,

21.49%,

1/28/24

...

5,792

5,756

174155308.LC.FTS.B,

8.59%,

1/29/24

...

2,659

2,547

174134234.LC.FTS.B,

9.59%,

1/29/24

...

16,063

15,477

174017574.LC.FTS.B,

9.99%,

1/29/24

...

16,107

15,562

174090524.LC.FTS.B,

12.74%,

1/29/24

...

16,409

15,696

174235765.LC.FTS.B,

12.74%,

1/29/24

...

3,829

3,776

174224849.LC.FTS.B,

13.99%,

1/29/24

...

2,206

2,146

174241094.LC.FTS.B,

13.99%,

1/29/24

...

6,618

6,526

174239289.LC.FTS.B,

15.44%,

1/29/24

...

1,670

1,649

174239520.LC.FTS.B,

16.99%,

1/29/24

...

3,374

3,331

174240247.LC.FTS.B,

18.49%,

1/29/24

...

6,812

6,693

Description

Principal

Amount

Value

LendingClub

Corp.

-

LCX

PM

(continued)

174169568.LC.FTS.B,

7.74%,

2/04/24

...

$

19,482

$

18,620

174117472.LC.FTS.B,

Zero

Cpn,

2/05/24

.

9,186

866

174036213.LC.FTS.B,

6.49%,

2/05/24

...

5,520

5,262

174297569.LC.FTS.B,

10.99%,

2/05/24

...

7,958

7,615

174343617.LC.FTS.B,

11.29%,

2/05/24

...

12,530

12,155

174306657.LC.FTS.B,

11.34%,

2/05/24

...

10,567

10,105

174107383.LC.FTS.B,

12.34%,

2/05/24

...

10,389

10,245

173769784.LC.FTS.B,

12.49%,

2/05/24

...

1,092

1,081

174293219.LC.FTS.B,

19.44%,

2/05/24

...

2,695

2,628

174346169.LC.FTS.B,

Zero

Cpn,

2/08/24

.

9,290

876

174279916.LC.FTS.B,

13.04%,

2/08/24

...

15,983

15,368

174347591.LC.FTS.B,

13.99%,

2/08/24

...

8,693

8,377

174351573.LC.FTS.B,

16.99%,

2/08/24

...

17,866

17,457

182140694.LC.FTS.B,

18.99%,

10/13/24

..

22,477

2,088

182191083.LC.FTS.B,

18.99%,

10/13/24

..

4,000

3,852

182253442.LC.FTS.B,

11.99%,

10/14/24

..

15,650

15,017

182251543.LC.FTS.B,

15.99%,

10/14/24

..

7,532

7,303

181823934.LC.FTS.B,

18.99%,

10/14/24

..

12,017

11,595

182168238.LC.FTS.B,

18.99%,

10/14/24

..

14,405

13,621

182227875.LC.FTS.B,

19.49%,

10/14/24

..

16,103

15,529

182189422.LC.FTS.B,

19.99%,

10/14/24

..

8,188

7,947

182279306.LC.FTS.B,

15.99%,

10/15/24

..

9,513

9,319

182333831.LC.FTS.B,

19.44%,

10/15/24

..

4,006

3,890

182308670.LC.FTS.B,

19.49%,

10/15/24

..

7,213

7,030

182309932.LC.FTS.B,

19.49%,

10/15/24

..

8,027

7,834

182183875.LC.FTS.B,

20.99%,

10/15/24

..

8,052

7,846

182215764.LC.FTS.B,

20.99%,

10/15/24

..

16,103

15,691

182310621.LC.FTS.B,

21.49%,

10/15/24

..

16,772

16,400

181599922.LC.FTS.B,

22.99%,

10/15/24

..

8,383

8,196

182294171.LC.FTS.B,

22.99%,

10/15/24

..

8,011

7,799

182334375.LC.FTS.B,

23.99%,

10/15/24

..

12,185

11,868

182070060.LC.FTS.B,

Zero

Cpn,

10/18/24

2,997

285

182090100.LC.FTS.B,

16.49%,

10/18/24

..

5,161

4,870

182411428.LC.FTS.B,

18.44%,

10/18/24

..

14,463

14,041

182222867.LC.FTS.B,

18.49%,

10/18/24

..

8,025

7,848

182060544.LC.FTS.B,

18.99%,

10/18/24

..

6,722

6,554

182327350.LC.FTS.B,

18.99%,

10/18/24

..

6,745

6,592

182341717.LC.FTS.B,

18.99%,

10/18/24

..

8,309

8,073

182348144.LC.FTS.B,

18.99%,

10/18/24

..

8,044

7,867

182322335.LC.FTS.B,

20.49%,

10/18/24

..

20,098

19,595

182332114.LC.FTS.B,

22.99%,

10/18/24

..

1,620

1,585

182334791.LC.FTS.B,

22.99%,

10/18/24

..

2,025

1,981

182127030.LC.FTS.B,

23.99%,

10/18/24

..

8,130

7,949

182386230.LC.FTS.B,

15.99%,

10/19/24

..

7,370

5,594

182352192.LC.FTS.B,

17.44%,

10/19/24

..

7,964

7,776

182455989.LC.FTS.B,

17.44%,

10/19/24

..

7,964

7,805

182379594.LC.FTS.B,

18.99%,

10/19/24

..

19,206

18,316

182348001.LC.FTS.B,

19.44%,

10/19/24

..

7,975

7,692

182112904.LC.FTS.B,

19.49%,

10/19/24

..

15,629

14,790

182406475.LC.FTS.B,

19.99%,

10/19/24

..

9,579

9,318

182434150.LC.FTS.B,

20.44%,

10/19/24

..

5,654

5,529

181717704.LC.FTS.B,

22.49%,

10/19/24

..

20,220

19,786

182399699.LC.FTS.B,

24.99%,

10/19/24

..

12,704

12,403

182413362.LC.FTS.B,

22.99%,

10/20/24

..

2,279

2,233

182410510.LC.FTS.B,

27.99%,

10/21/24

..

12,326

12,069

182545979.LC.FTS.B,

11.99%,

11/01/24

..

14,537

14,411

182593987.LC.FTS.B,

14.19%,

11/01/24

..

16,273

16,027

182487044.LC.FTS.B,

14.99%,

11/01/24

..

12,261

11,708

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

241

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

LendingClub

Corp.

-

LCX

PM

(continued)

182762119.LC.FTS.B,

15.49%,

11/01/24

..

$

6,583

$

6,466

182766834.LC.FTS.B,

15.99%,

11/01/24

..

20,474

20,057

182501698.LC.FTS.B,

16.19%,

11/01/24

..

33,072

31,888

182460757.LC.FTS.B,

17.44%,

11/01/24

..

8,261

7,797

182746441.LC.FTS.B,

17.44%,

11/01/24

..

13,265

12,931

182547090.LC.FTS.B,

18.99%,

11/01/24

..

12,482

12,144

182748274.LC.FTS.B,

18.99%,

11/01/24

..

8,239

7,973

182749329.LC.FTS.B,

18.99%,

11/01/24

..

12,358

11,960

182737632.LC.FTS.B,

20.99%,

11/01/24

..

8,283

8,015

182385569.LC.FTS.B,

21.49%,

11/01/24

..

20,736

20,175

182428388.LC.FTS.B,

22.99%,

11/01/24

..

15,900

8,073

182713608.LC.FTS.B,

22.99%,

11/01/24

..

4,996

4,860

182830334.LC.FTS.B,

12.99%,

11/02/24

..

8,100

7,912

182875454.LC.FTS.B,

12.99%,

11/02/24

..

13,303

13,130

182764835.LC.FTS.B,

13.99%,

11/02/24

..

4,874

4,620

182786422.LC.FTS.B,

13.99%,

11/02/24

..

10,625

10,210

182833905.LC.FTS.B,

15.49%,

11/02/24

..

20,396

19,793

182797314.LC.FTS.B,

15.99%,

11/02/24

..

8,278

7,923

182852118.LC.FTS.B,

16.49%,

11/02/24

..

9,000

8,797

182842810.LC.FTS.B,

17.49%,

11/02/24

..

7,384

7,217

182850075.LC.FTS.B,

17.99%,

11/02/24

..

19,379

18,942

182854752.LC.FTS.B,

18.99%,

11/02/24

..

16,524

16,101

182863345.LC.FTS.B,

18.99%,

11/02/24

..

4,119

4,002

182852389.LC.FTS.B,

19.44%,

11/02/24

..

20,622

20,035

182712600.LC.FTS.B,

19.49%,

11/02/24

..

8,860

1,540

182863664.LC.FTS.B,

19.99%,

11/02/24

..

3,612

3,509

182288146.LC.FTS.B,

22.99%,

11/02/24

..

10,063

9,826

182850730.LC.FTS.B,

22.99%,

11/02/24

..

15,165

14,771

182861781.LC.FTS.B,

22.99%,

11/02/24

..

13,453

13,154

182874149.LC.FTS.B,

22.99%,

11/02/24

..

16,655

16,287

182800255.LC.FTS.B,

24.99%,

11/02/24

..

19,529

19,105

182830358.LC.FTS.B,

24.99%,

11/02/24

..

6,464

6,297

182921780.LC.FTS.B,

11.04%,

11/03/24

..

17,385

17,213

182918052.LC.FTS.B,

12.99%,

11/03/24

..

6,480

6,377

182832352.LC.FTS.B,

13.99%,

11/03/24

..

11,821

8,899

182874527.LC.FTS.B,

15.99%,

11/03/24

..

20,425

19,970

182884975.LC.FTS.B,

15.99%,

11/03/24

..

20,425

19,970

182859815.LC.FTS.B,

16.99%,

11/03/24

..

12,290

11,927

182914089.LC.FTS.B,

17.19%,

11/03/24

..

3,689

3,606

182876690.LC.FTS.B,

17.44%,

11/03/24

..

856

308

182877276.LC.FTS.B,

17.49%,

11/03/24

..

5,333

5,213

182883648.LC.FTS.B,

17.49%,

11/03/24

..

8,196

8,009

182882751.LC.FTS.B,

18.99%,

11/03/24

..

2,882

2,801

182901080.LC.FTS.B,

22.49%,

11/03/24

..

3,327

3,238

182343246.LC.FTS.B,

22.99%,

11/03/24

..

4,996

4,864

182940512.LC.FTS.B,

9.34%,

11/04/24

...

1,650

1,603

182919920.LC.FTS.B,

10.34%,

11/04/24

..

12,055

11,958

182936009.LC.FTS.B,

13.04%,

11/04/24

..

14,764

14,570

182832700.LC.FTS.B,

14.99%,

11/04/24

..

11,216

1,927

182907566.LC.FTS.B,

15.99%,

11/04/24

..

2,288

2,238

182914824.LC.FTS.B,

16.49%,

11/04/24

..

8,182

8,004

182927640.LC.FTS.B,

16.49%,

11/04/24

..

5,392

5,288

182953244.LC.FTS.B,

17.49%,

11/04/24

..

8,205

8,025

182908181.LC.FTS.B,

17.99%,

11/04/24

..

4,930

4,822

182281352.LC.FTS.B,

18.99%,

11/04/24

..

9,886

9,615

182881545.LC.FTS.B,

18.99%,

11/04/24

..

8,389

8,151

182921573.LC.FTS.B,

18.99%,

11/04/24

..

14,830

14,423

182488402.LC.FTS.B,

19.49%,

11/04/24

..

5,362

5,215

Description

Principal

Amount

Value

LendingClub

Corp.

-

LCX

PM

(continued)

182903788.LC.FTS.B,

19.49%,

11/04/24

..

$

17,465

$

17,065

182726206.LC.FTS.B,

19.99%,

11/04/24

..

3,717

3,615

182925177.LC.FTS.B,

22.99%,

11/04/24

..

8,327

8,113

182688806.LC.FTS.B,

24.99%,

11/04/24

..

5,355

5,214

182957882.LC.FTS.B,

11.04%,

11/05/24

..

12,391

9,711

182991991.LC.FTS.B,

11.49%,

11/05/24

..

6,796

6,705

183008113.LC.FTS.B,

11.99%,

11/05/24

..

4,846

4,772

182498467.LC.FTS.B,

14.99%,

11/05/24

..

6,110

5,971

182716700.LC.FTS.B,

14.99%,

11/05/24

..

8,188

8,084

182787978.LC.FTS.B,

16.99%,

11/05/24

..

3,933

3,848

182967907.LC.FTS.B,

18.19%,

11/05/24

..

28,772

27,993

182864591.LC.FTS.B,

18.44%,

11/05/24

..

29,039

28,252

182954507.LC.FTS.B,

18.44%,

11/05/24

..

6,170

6,002

182928222.LC.FTS.B,

18.49%,

11/05/24

..

9,050

8,805

182054732.LC.FTS.B,

18.99%,

11/05/24

..

3,769

3,668

182892987.LC.FTS.B,

18.99%,

11/05/24

..

9,886

9,618

182923000.LC.FTS.B,

18.99%,

11/05/24

..

20,597

20,037

182929096.LC.FTS.B,

18.99%,

11/05/24

..

4,943

4,809

182810364.LC.FTS.B,

19.49%,

11/05/24

..

15,848

15,508

182918450.LC.FTS.B,

22.99%,

11/05/24

..

8,327

8,116

182398953.LC.FTS.B,

23.99%,

11/05/24

..

6,751

6,615

182862683.LC.FTS.B,

11.04%,

11/08/24

..

9,664

9,235

182828421.LC.FTS.B,

11.49%,

11/08/24

..

24,255

24,111

183012848.LC.FTS.B,

12.34%,

11/08/24

..

9,702

9,485

182951096.LC.FTS.B,

12.99%,

11/08/24

..

17,415

17,153

182935882.LC.FTS.B,

14.49%,

11/08/24

..

8,135

7,982

183005145.LC.FTS.B,

14.49%,

11/08/24

..

14,644

14,421

182138019.LC.FTS.B,

15.99%,

11/08/24

..

4,902

4,798

182937534.LC.FTS.B,

15.99%,

11/08/24

..

8,170

7,968

182874683.LC.FTS.B,

16.19%,

11/08/24

..

18,027

17,633

182940029.LC.FTS.B,

16.49%,

11/08/24

..

5,450

5,361

182990403.LC.FTS.B,

16.49%,

11/08/24

..

8,220

8,057

182991246.LC.FTS.B,

16.49%,

11/08/24

..

6,545

6,407

182769411.LC.FTS.B,

18.44%,

11/08/24

..

3,949

3,843

182999357.LC.FTS.B,

18.44%,

11/08/24

..

8,226

8,007

182908610.LC.FTS.B,

18.49%,

11/08/24

..

24,596

23,906

182934535.LC.FTS.B,

18.49%,

11/08/24

..

28,796

28,028

182958729.LC.FTS.B,

18.99%,

11/08/24

..

7,802

7,595

182543126.LC.FTS.B,

19.49%,

11/08/24

..

20,796

20,295

182946096.LC.FTS.B,

22.99%,

11/08/24

..

4,164

4,060

182950120.LC.FTS.B,

22.99%,

11/08/24

..

21,739

21,277

183149370.LC.FTS.B,

15.19%,

11/12/24

..

4,076

3,995

183022196.LC.FTS.B,

15.99%,

11/12/24

..

7,843

7,687

183031081.LC.FTS.B,

15.99%,

11/12/24

..

15,575

14,953

183108244.LC.FTS.B,

15.99%,

11/12/24

..

1,634

1,601

183143740.LC.FTS.B,

16.49%,

11/12/24

..

6,954

6,790

182977352.LC.FTS.B,

17.44%,

11/12/24

..

8,203

8,039

182390204.LC.FTS.B,

18.99%,

11/12/24

..

14,914

14,595

182923608.LC.FTS.B,

18.99%,

11/12/24

..

4,943

4,764

183027816.LC.FTS.B,

18.99%,

11/12/24

..

7,988

7,800

183154424.LC.FTS.B,

15.99%,

11/15/24

..

11,438

11,215

183171929.LC.FTS.B,

16.49%,

11/15/24

..

4,909

4,813

183178213.LC.FTS.B,

16.99%,

11/15/24

..

4,097

4,016

182783983.LC.FTS.B,

17.49%,

11/15/24

..

18,732

18,288

183147548.LC.FTS.B,

18.99%,

11/15/24

..

11,534

11,249

183150801.LC.FTS.B,

18.99%,

11/15/24

..

8,239

8,035

183164730.LC.FTS.B,

18.99%,

11/15/24

..

989

964

183048902.LC.FTS.B,

19.49%,

11/15/24

..

20,625

20,115

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

242

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

LendingClub

Corp.

-

LCX

PM

(continued)

183127694.LC.FTS.B,

19.49%,

11/15/24

..

$

12,380

$

11,953

183261327.LC.FTS.B,

11.04%,

11/16/24

..

14,118

10,822

183334882.LC.FTS.B,

11.99%,

11/16/24

..

4,846

4,776

183299280.LC.FTS.B,

13.04%,

11/16/24

..

16,202

15,981

183009664.LC.FTS.B,

14.19%,

11/16/24

..

12,225

12,083

183270133.LC.FTS.B,

14.44%,

11/16/24

..

6,527

6,427

182918515.LC.FTS.B,

16.49%,

11/16/24

..

11,458

10,908

183169657.LC.FTS.B,

17.99%,

11/16/24

..

4,048

3,878

183102073.LC.FTS.B,

18.99%,

11/16/24

..

3,812

3,709

183199016.LC.FTS.B,

18.99%,

11/16/24

..

4,119

3,973

183248270.LC.FTS.B,

18.99%,

11/16/24

..

8,239

8,038

183249845.LC.FTS.B,

18.99%,

11/16/24

..

7,003

6,832

183259213.LC.FTS.B,

18.99%,

11/16/24

..

4,404

4,318

183204737.LC.FTS.B,

19.49%,

11/16/24

..

5,322

5,176

183239686.LC.FTS.B,

20.44%,

11/16/24

..

19,856

19,398

183265092.LC.FTS.B,

20.44%,

11/16/24

..

6,203

6,051

183199235.LC.FTS.B,

10.99%,

11/17/24

..

12,079

11,907

182861657.LC.FTS.B,

12.99%,

11/17/24

..

10,738

1,872

183278521.LC.FTS.B,

15.99%,

11/17/24

..

5,311

5,209

183036723.LC.FTS.B,

16.49%,

11/17/24

..

11,782

11,556

183312442.LC.FTS.B,

17.44%,

11/17/24

..

6,563

6,437

183258872.LC.FTS.B,

17.99%,

11/17/24

..

8,873

8,703

183131010.LC.FTS.B,

18.99%,

11/17/24

..

2,966

2,894

183262918.LC.FTS.B,

18.99%,

11/17/24

..

6,714

6,553

183281498.LC.FTS.B,

18.99%,

11/17/24

..

8,239

8,040

183270584.LC.FTS.B,

22.99%,

11/17/24

..

8,240

8,026

183281940.LC.FTS.B,

22.99%,

11/17/24

..

3,456

3,366

183376238.LC.FTS.B,

15.19%,

11/18/24

..

11,412

11,201

183297337.LC.FTS.B,

15.49%,

11/18/24

..

8,974

8,808

182884112.LC.FTS.B,

15.74%,

11/18/24

..

28,673

27,785

182749224.LC.FTS.B,

15.99%,

11/18/24

..

5,842

5,733

183301563.LC.FTS.B,

15.99%,

11/18/24

..

4,494

4,410

183195827.LC.FTS.B,

16.49%,

11/18/24

..

28,636

27,675

183359486.LC.FTS.B,

16.99%,

11/18/24

..

8,072

7,916

183237884.LC.FTS.B,

18.19%,

11/18/24

..

19,729

19,269

182840575.LC.FTS.B,

18.99%,

11/18/24

..

4,119

4,023

182861390.LC.FTS.B,

18.99%,

11/18/24

..

16,430

16,027

183290549.LC.FTS.B,

18.99%,

11/18/24

..

15,542

15,134

183307678.LC.FTS.B,

18.99%,

11/18/24

..

6,179

6,034

183319106.LC.FTS.B,

18.99%,

11/18/24

..

8,239

8,046

183291733.LC.FTS.B,

19.99%,

11/18/24

..

5,948

5,808

183306252.LC.FTS.B,

22.99%,

11/18/24

..

6,655

6,514

183308830.LC.FTS.B,

22.99%,

11/18/24

..

2,998

2,935

183351808.LC.FTS.B,

11.49%,

11/19/24

..

12,097

11,929

183402694.LC.FTS.B,

11.99%,

11/19/24

..

10,033

9,918

183393938.LC.FTS.B,

13.99%,

11/19/24

..

11,373

11,226

183388949.LC.FTS.B,

14.19%,

11/19/24

..

26,011

25,674

183082106.LC.FTS.B,

15.99%,

11/19/24

..

9,396

9,083

183325965.LC.FTS.B,

15.99%,

11/19/24

..

15,813

15,524

183334857.LC.FTS.B,

15.99%,

11/19/24

..

9,653

9,353

182824507.LC.FTS.B,

16.49%,

11/19/24

..

4,091

4,016

183392577.LC.FTS.B,

16.49%,

11/19/24

..

17,822

17,310

183356155.LC.FTS.B,

16.99%,

11/19/24

..

20,541

20,240

183199521.LC.FTS.B,

18.99%,

11/19/24

..

7,748

6,024

183273399.LC.FTS.B,

18.99%,

11/19/24

..

5,932

5,795

183339518.LC.FTS.B,

18.99%,

11/19/24

..

8,239

8,048

183355970.LC.FTS.B,

22.99%,

11/19/24

..

8,327

8,155

183366235.LC.FTS.B,

22.99%,

11/19/24

..

4,164

4,077

Description

Principal

Amount

Value

LendingClub

Corp.

-

LCX

PM

(continued)

183440797.LC.FTS.B,

11.99%,

11/22/24

..

$

35,369

$

34,951

183424030.LC.FTS.B,

12.24%,

11/22/24

..

7,467

7,323

183426912.LC.FTS.B,

12.49%,

11/22/24

..

12,132

11,980

182983769.LC.FTS.B,

12.99%,

11/22/24

..

3,888

3,824

183422493.LC.FTS.B,

14.99%,

11/22/24

..

1,955

1,930

182516076.LC.FTS.B,

15.99%,

11/22/24

..

9,008

8,710

183343101.LC.FTS.B,

15.99%,

11/22/24

..

6,560

6,403

183362712.LC.FTS.B,

15.99%,

11/22/24

..

13,525

13,260

183420205.LC.FTS.B,

16.49%,

11/22/24

..

22,909

22,238

183428100.LC.FTS.B,

16.99%,

11/22/24

..

16,387

16,115

183268922.LC.FTS.B,

17.99%,

11/22/24

..

20,287

15,795

183287166.LC.FTS.B,

18.49%,

11/22/24

..

11,108

10,897

183326198.LC.FTS.B,

18.99%,

11/22/24

..

6,591

6,442

183339461.LC.FTS.B,

18.99%,

11/22/24

..

15,332

14,937

183394488.LC.FTS.B,

18.99%,

11/22/24

..

4,119

4,026

183369334.LC.FTS.B,

22.99%,

11/22/24

..

15,321

15,007

183501675.LC.FTS.B,

Zero

Cpn,

11/23/24

15,563

1,474

183400615.LC.FTS.B,

12.49%,

11/23/24

..

20,840

20,579

183464008.LC.FTS.B,

15.24%,

11/23/24

..

22,138

21,528

183318889.LC.FTS.B,

15.99%,

11/23/24

..

4,821

4,771

183501862.LC.FTS.B,

16.19%,

11/23/24

..

10,888

10,676

183494147.LC.FTS.B,

17.19%,

11/23/24

..

2,630

2,591

183474066.LC.FTS.B,

18.44%,

11/23/24

..

19,536

19,031

183437265.LC.FTS.B,

18.49%,

11/23/24

..

12,691

9,923

182618845.LC.FTS.B,

18.99%,

11/23/24

..

8,239

8,025

183430526.LC.FTS.B,

18.99%,

11/23/24

..

8,239

8,056

183431297.LC.FTS.B,

18.99%,

11/23/24

..

3,295

3,210

183473491.LC.FTS.B,

18.99%,

11/23/24

..

28,670

27,970

183402493.LC.FTS.B,

22.99%,

11/23/24

..

5,691

5,549

183250462.LC.FTS.B,

14.99%,

11/24/24

..

7,570

7,504

183554355.LC.FTS.B,

15.19%,

11/24/24

..

8,967

8,815

183464408.LC.FTS.B,

15.99%,

11/24/24

..

4,833

4,724

183532866.LC.FTS.B,

15.99%,

11/24/24

..

4,902

4,819

183565213.LC.FTS.B,

16.19%,

11/24/24

..

2,452

2,392

183476973.LC.FTS.B,

16.49%,

11/24/24

..

12,211

11,817

183540917.LC.FTS.B,

16.49%,

11/24/24

..

2,045

2,011

183476493.LC.FTS.B,

17.49%,

11/24/24

..

5,997

5,897

183540900.LC.FTS.B,

18.44%,

11/24/24

..

2,057

2,012

183371602.LC.FTS.B,

18.99%,

11/24/24

..

16,948

16,516

183407963.LC.FTS.B,

18.99%,

11/24/24

..

7,186

7,002

183173731.LC.FTS.B,

19.49%,

11/24/24

..

8,273

8,117

183493762.LC.FTS.B,

12.24%,

11/26/24

..

29,410

28,839

183519416.LC.FTS.B,

15.49%,

11/26/24

..

9,228

9,031

183524052.LC.FTS.B,

16.49%,

11/26/24

..

20,466

20,153

183520286.LC.FTS.B,

16.99%,

11/26/24

..

7,374

7,250

183572600.LC.FTS.B,

18.44%,

11/26/24

..

27,892

10,529

183504509.LC.FTS.B,

18.49%,

11/26/24

..

14,809

14,497

183339903.LC.FTS.B,

18.99%,

11/26/24

..

8,898

8,710

183439545.LC.FTS.B,

19.49%,

11/26/24

..

4,610

4,509

183342456.LC.FTS.B,

22.49%,

11/26/24

..

20,791

20,409

183441212.LC.FTS.B,

22.99%,

11/26/24

..

1,790

1,757

183518965.LC.FTS.B,

24.99%,

11/26/24

..

4,185

4,108

183502968.LC.FTS.B,

15.19%,

11/29/24

..

5,894

5,785

183538925.LC.FTS.B,

15.99%,

11/29/24

..

11,773

11,595

183312258.LC.FTS.B,

16.44%,

11/29/24

..

8,419

8,257

183170547.LC.FTS.B,

16.49%,

11/29/24

..

23,723

22,771

183425417.LC.FTS.B,

16.49%,

11/29/24

..

12,183

11,891

183522405.LC.FTS.B,

17.99%,

11/29/24

..

29,577

29,124

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

243

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

LendingClub

Corp.

-

LCX

PM

(continued)

183535525.LC.FTS.B,

17.99%,

11/29/24

..

$

5,938

$

5,737

183496969.LC.FTS.B,

23.99%,

11/29/24

..

5,286

5,188

183592956.LC.FTS.B,

13.99%,

11/30/24

..

8,367

7,959

183619170.LC.FTS.B,

14.19%,

11/30/24

..

8,372

8,241

183500540.LC.FTS.B,

15.99%,

11/30/24

..

6,727

6,580

183568984.LC.FTS.B,

15.99%,

11/30/24

..

25,330

24,632

183606069.LC.FTS.B,

16.49%,

11/30/24

..

21,049

20,433

183624476.LC.FTS.B,

16.49%,

11/30/24

..

516

512

183602959.LC.FTS.B,

18.49%,

11/30/24

..

5,570

5,429

183616976.LC.FTS.B,

18.99%,

11/30/24

..

8,809

8,563

183644660.LC.FTS.B,

22.49%,

11/30/24

..

4,270

4,153

183671598.LC.FTS.B,

13.99%,

12/01/24

..

16,736

16,478

182860020.LC.FTS.B,

15.44%,

12/01/24

..

30,234

29,656

183602283.LC.FTS.B,

15.99%,

12/01/24

..

21,204

20,443

183614435.LC.FTS.B,

15.99%,

12/01/24

..

5,916

5,698

183660366.LC.FTS.B,

15.99%,

12/01/24

..

10,092

9,874

183663596.LC.FTS.B,

16.19%,

12/01/24

..

13,462

13,171

183017036.LC.FTS.B,

16.44%,

12/01/24

..

29,466

28,828

183474005.LC.FTS.B,

16.49%,

12/01/24

..

8,949

8,796

183555873.LC.FTS.B,

16.99%,

12/01/24

..

16,360

15,919

183645675.LC.FTS.B,

19.99%,

12/01/24

..

3,397

3,302

183674531.LC.FTS.B,

21.99%,

12/01/24

..

9,384

9,131

183688484.LC.FTS.B,

21.99%,

12/01/24

..

9,628

907

183673337.LC.FTS.B,

23.99%,

12/01/24

..

21,425

20,842

183693231.LC.FTS.B,

12.49%,

12/02/24

..

3,000

2,955

183691663.LC.FTS.B,

13.04%,

12/02/24

..

6,678

6,355

183695879.LC.FTS.B,

14.19%,

12/02/24

..

8,770

–

183762903.LC.FTS.B,

15.44%,

12/02/24

..

6,425

6,242

183203390.LC.FTS.B,

15.49%,

12/02/24

..

21,038

20,655

183488017.LC.FTS.B,

15.49%,

12/02/24

..

15,398

15,141

183705826.LC.FTS.B,

15.99%,

12/02/24

..

18,081

17,700

183711809.LC.FTS.B,

17.49%,

12/02/24

..

15,269

15,002

183535656.LC.FTS.B,

18.44%,

12/02/24

..

384

381

183434525.LC.FTS.B,

19.99%,

12/02/24

..

16,303

15,862

183693847.LC.FTS.B,

19.99%,

12/02/24

..

8,571

8,388

183710611.LC.FTS.B,

22.49%,

12/02/24

..

3,428

3,347

183697716.LC.FTS.B,

22.99%,

12/02/24

..

855

833

183703028.LC.FTS.B,

22.99%,

12/02/24

..

3,434

64

183354385.LC.FTS.B,

12.49%,

12/03/24

..

5,002

4,928

183771469.LC.FTS.B,

12.74%,

12/03/24

..

16,683

16,438

183184685.LC.FTS.B,

13.24%,

12/03/24

..

6,718

6,644

183708997.LC.FTS.B,

13.44%,

12/03/24

..

4,042

3,992

183777302.LC.FTS.B,

13.99%,

12/03/24

..

3,097

–

183559023.LC.FTS.B,

15.99%,

12/03/24

..

8,395

8,228

183695987.LC.FTS.B,

15.99%,

12/03/24

..

17,240

16,560

183769602.LC.FTS.B,

16.19%,

12/03/24

..

7,586

7,447

183651373.LC.FTS.B,

16.44%,

12/03/24

..

4,209

4,122

183753816.LC.FTS.B,

16.49%,

12/03/24

..

16,956

16,680

183769143.LC.FTS.B,

16.99%,

12/03/24

..

4,233

4,160

183785169.LC.FTS.B,

17.99%,

12/03/24

..

8,947

8,807

183595941.LC.FTS.B,

18.44%,

12/03/24

..

1,577

1,555

183582737.LC.FTS.B,

18.99%,

12/03/24

..

7,372

7,224

183755503.LC.FTS.B,

18.99%,

12/03/24

..

10,254

10,045

183777683.LC.FTS.B,

18.99%,

12/03/24

..

7,116

6,926

183609082.LC.FTS.B,

19.49%,

12/03/24

..

3,392

3,302

183776889.LC.FTS.B,

19.49%,

12/03/24

..

8,680

6,759

183773059.LC.FTS.B,

21.99%,

12/03/24

..

12,796

12,466

183788267.LC.FTS.B,

22.99%,

12/03/24

..

3,078

2,998

Description

Principal

Amount

Value

LendingClub

Corp.

-

LCX

PM

(continued)

183189944.LC.FTS.B,

13.04%,

12/06/24

..

$

12,518

$

12,291

183651961.LC.FTS.B,

14.99%,

12/06/24

..

8,389

8,109

183827173.LC.FTS.B,

14.99%,

12/06/24

..

7,176

7,106

183410744.LC.FTS.B,

15.99%,

12/06/24

..

10,931

1,286

183789247.LC.FTS.B,

16.19%,

12/06/24

..

3,683

3,615

183766217.LC.FTS.B,

16.49%,

12/06/24

..

7,157

6,930

183795092.LC.FTS.B,

17.49%,

12/06/24

..

13,505

13,176

183802837.LC.FTS.B,

17.99%,

12/06/24

..

23,937

23,443

183780343.LC.FTS.B,

18.44%,

12/06/24

..

4,568

4,449

183785739.LC.FTS.B,

18.44%,

12/06/24

..

3,384

3,302

183558965.LC.FTS.B,

18.99%,

12/06/24

..

6,099

5,939

183794044.LC.FTS.B,

18.99%,

12/06/24

..

9,819

9,615

183796732.LC.FTS.B,

18.99%,

12/06/24

..

6,819

6,671

183798048.LC.FTS.B,

18.99%,

12/06/24

..

4,236

4,125

183799482.LC.FTS.B,

18.99%,

12/06/24

..

8,471

8,249

183804788.LC.FTS.B,

18.99%,

12/06/24

..

3,267

3,198

183818205.LC.FTS.B,

18.99%,

12/06/24

..

20,331

19,798

183532916.LC.FTS.B,

22.99%,

12/06/24

..

7,766

7,613

183541347.LC.FTS.B,

22.99%,

12/06/24

..

8,551

8,333

183169104.LC.FTS.B,

12.34%,

12/07/24

..

21,665

21,196

183193558.LC.FTS.B,

12.49%,

12/07/24

..

20,840

20,075

183895042.LC.FTS.B,

12.49%,

12/07/24

..

8,336

8,218

183661700.LC.FTS.B,

12.74%,

12/07/24

..

8,386

8,033

183862994.LC.FTS.B,

13.99%,

12/07/24

..

2,510

2,456

183890926.LC.FTS.B,

15.19%,

12/07/24

..

30,215

29,605

183699899.LC.FTS.B,

15.99%,

12/07/24

..

9,924

9,300

183853227.LC.FTS.B,

15.99%,

12/07/24

..

6,777

6,523

183878811.LC.FTS.B,

15.99%,

12/07/24

..

6,762

6,626

183882045.LC.FTS.B,

15.99%,

12/07/24

..

12,614

12,218

183856495.LC.FTS.B,

16.49%,

12/07/24

..

6,736

6,524

183901831.LC.FTS.B,

16.49%,

12/07/24

..

25,260

24,747

183862855.LC.FTS.B,

17.44%,

12/07/24

..

6,792

6,656

183585296.LC.FTS.B,

17.49%,

12/07/24

..

8,441

8,205

183844133.LC.FTS.B,

17.99%,

12/07/24

..

10,207

9,760

183893289.LC.FTS.B,

18.44%,

12/07/24

..

2,115

2,052

183739101.LC.FTS.B,

18.99%,

12/07/24

..

6,777

6,525

183884773.LC.FTS.B,

18.99%,

12/07/24

..

2,541

2,475

183891836.LC.FTS.B,

18.99%,

12/07/24

..

5,129

5,028

183874684.LC.FTS.B,

19.49%,

12/07/24

..

9,408

9,214

183892244.LC.FTS.B,

21.49%,

12/07/24

..

21,474

21,038

183882847.LC.FTS.B,

21.99%,

12/07/24

..

8,190

7,985

183864519.LC.FTS.B,

22.49%,

12/07/24

..

14,873

14,361

183872755.LC.FTS.B,

22.99%,

12/07/24

..

8,133

7,898

183880382.LC.FTS.B,

22.99%,

12/07/24

..

4,275

4,152

183835868.LC.FTS.B,

24.99%,

12/07/24

..

8,483

8,268

183842381.LC.FTS.B,

24.99%,

12/07/24

..

10,307

10,007

183294973.LC.FTS.B,

27.99%,

12/07/24

..

15,562

15,164

183843773.LC.FTS.B,

27.99%,

12/07/24

..

5,313

2,028

183911031.LC.FTS.B,

Zero

Cpn,

12/08/24

9,605

904

183883221.LC.FTS.B,

10.99%,

12/08/24

..

9,964

9,820

183582634.LC.FTS.B,

11.04%,

12/08/24

..

4,111

3,942

183776421.LC.FTS.B,

11.04%,

12/08/24

..

6,395

6,205

184003016.LC.FTS.B,

13.19%,

12/08/24

..

1,253

1,226

183915427.LC.FTS.B,

13.24%,

12/08/24

..

23,385

23,056

183732977.LC.FTS.B,

14.49%,

12/08/24

..

12,567

12,389

183913486.LC.FTS.B,

14.49%,

12/08/24

..

4,189

4,130

183954033.LC.FTS.B,

14.49%,

12/08/24

..

11,728

11,562

183929820.LC.FTS.B,

15.49%,

12/08/24

..

4,223

4,156

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

244

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

LendingClub

Corp.

-

LCX

PM

(continued)

183587648.LC.FTS.B,

15.99%,

12/08/24

..

$

10,897

$

10,475

183926594.LC.FTS.B,

15.99%,

12/08/24

..

7,090

6,973

183956072.LC.FTS.B,

15.99%,

12/08/24

..

6,728

6,593

183959795.LC.FTS.B,

15.99%,

12/08/24

..

8,410

8,241

183948591.LC.FTS.B,

16.44%,

12/08/24

..

15,270

15,037

183955270.LC.FTS.B,

16.49%,

12/08/24

..

2,105

2,063

183942448.LC.FTS.B,

17.99%,

12/08/24

..

3,043

2,987

183902971.LC.FTS.B,

18.49%,

12/08/24

..

16,236

15,922

183938966.LC.FTS.B,

18.49%,

12/08/24

..

10,786

10,511

183551116.LC.FTS.B,

18.99%,

12/08/24

..

5,930

5,778

183942961.LC.FTS.B,

18.99%,

12/08/24

..

4,236

4,127

183801794.LC.FTS.B,

19.44%,

12/08/24

..

8,472

8,255

183947592.LC.FTS.B,

19.49%,

12/08/24

..

7,209

7,024

183886671.LC.FTS.B,

7.59%,

12/09/24

...

32,921

31,637

183983086.LC.FTS.B,

12.49%,

12/09/24

..

16,870

2,898

183961259.LC.FTS.B,

12.74%,

12/09/24

..

8,341

8,228

184035228.LC.FTS.B,

13.04%,

12/09/24

..

12,521

12,256

184037141.LC.FTS.B,

13.19%,

12/09/24

..

6,280

6,149

183959313.LC.FTS.B,

13.24%,

12/09/24

..

12,528

12,309

183978363.LC.FTS.B,

13.24%,

12/09/24

..

11,731

11,512

183973489.LC.FTS.B,

14.44%,

12/09/24

..

5,026

4,957

183835923.LC.FTS.B,

15.19%,

12/09/24

..

9,610

9,442

183975067.LC.FTS.B,

15.49%,

12/09/24

..

4,225

4,162

183294173.LC.FTS.B,

15.99%,

12/09/24

..

5,046

4,948

183610510.LC.FTS.B,

15.99%,

12/09/24

..

18,501

18,071

183687581.LC.FTS.B,

15.99%,

12/09/24

..

3,985

696

183958487.LC.FTS.B,

16.19%,

12/09/24

..

4,844

1,733

183975954.LC.FTS.B,

16.49%,

12/09/24

..

4,042

3,963

183997716.LC.FTS.B,

16.49%,

12/09/24

..

4,210

4,128

183931492.LC.FTS.B,

16.99%,

12/09/24

..

16,861

16,404

183974444.LC.FTS.B,

16.99%,

12/09/24

..

4,231

4,162

183951356.LC.FTS.B,

17.49%,

12/09/24

..

14,771

14,482

183972047.LC.FTS.B,

17.49%,

12/09/24

..

844

828

183968599.LC.FTS.B,

18.99%,

12/09/24

..

3,388

3,304

184014658.LC.FTS.B,

19.44%,

12/09/24

..

443

254

183966895.LC.FTS.B,

19.99%,

12/09/24

..

9,226

9,003

183576580.LC.FTS.B,

20.44%,

12/09/24

..

21,251

20,718

183980484.LC.FTS.B,

21.99%,

12/09/24

..

21,327

20,819

183967026.LC.FTS.B,

22.99%,

12/09/24

..

15,391

15,023

183969487.LC.FTS.B,

22.99%,

12/09/24

..

12,817

12,511

183983228.LC.FTS.B,

26.49%,

12/09/24

..

21,036

20,524

183961839.LC.FTS.B,

11.04%,

12/10/24

..

6,683

6,470

184037034.LC.FTS.B,

12.49%,

12/10/24

..

834

822

183776961.LC.FTS.B,

12.99%,

12/10/24

..

16,739

16,297

183775188.LC.FTS.B,

14.44%,

12/10/24

..

13,404

12,864

184000110.LC.FTS.B,

15.49%,

12/10/24

..

13,439

13,181

183974082.LC.FTS.B,

15.99%,

12/10/24

..

17,652

17,312

184004060.LC.FTS.B,

16.49%,

12/10/24

..

23,576

23,122

183929309.LC.FTS.B,

16.99%,

12/10/24

..

16,861

16,535

184001961.LC.FTS.B,

16.99%,

12/10/24

..

6,590

6,425

184006108.LC.FTS.B,

16.99%,

12/10/24

..

10,538

10,334

184044208.LC.FTS.B,

16.99%,

12/10/24

..

22,256

21,826

183319328.LC.FTS.B,

17.44%,

12/10/24

..

34,048

33,455

183992651.LC.FTS.B,

17.99%,

12/10/24

..

1,819

1,803

184008894.LC.FTS.B,

17.99%,

12/10/24

..

8,451

8,287

183687452.LC.FTS.B,

18.99%,

12/10/24

..

847

826

183828952.LC.FTS.B,

18.99%,

12/10/24

..

6,132

6,011

183979122.LC.FTS.B,

18.99%,

12/10/24

..

2,033

1,983

Description

Principal

Amount

Value

LendingClub

Corp.

-

LCX

PM

(continued)

184025076.LC.FTS.B,

18.99%,

12/10/24

..

$

9,330

$

9,124

184005390.LC.FTS.B,

19.99%,

12/10/24

..

2,547

2,484

183997026.LC.FTS.B,

22.99%,

12/10/24

..

5,403

4,248

184026094.LC.FTS.B,

22.99%,

12/10/24

..

6,156

6,011

184035087.LC.FTS.B,

10.34%,

12/13/24

..

8,290

8,174

184030481.LC.FTS.B,

11.04%,

12/13/24

..

5,813

5,665

184049185.LC.FTS.B,

13.24%,

12/13/24

..

15,033

14,835

183985034.LC.FTS.B,

14.44%,

12/13/24

..

8,726

8,357

183789603.LC.FTS.B,

14.99%,

12/13/24

..

13,422

12,883

184083997.LC.FTS.B,

16.44%,

12/13/24

..

5,706

5,575

184009446.LC.FTS.B,

16.49%,

12/13/24

..

6,742

6,630

184074389.LC.FTS.B,

16.49%,

12/13/24

..

8,841

8,674

184030866.LC.FTS.B,

16.99%,

12/13/24

..

17,426

13,516

184073466.LC.FTS.B,

17.44%,

12/13/24

..

5,064

4,967

184003705.LC.FTS.B,

17.99%,

12/13/24

..

12,676

12,435

184045620.LC.FTS.B,

18.99%,

12/13/24

..

7,450

7,296

184046281.LC.FTS.B,

18.99%,

12/13/24

..

1,016

992

183787906.LC.FTS.B,

19.12%,

12/13/24

..

1,682

1,638

183770308.LC.FTS.B,

21.49%,

12/13/24

..

2,642

2,581

184106683.LC.FTS.B,

9.99%,

12/14/24

...

12,423

11,723

184070958.LC.FTS.B,

10.49%,

12/14/24

..

4,651

4,592

184028586.LC.FTS.B,

10.99%,

12/14/24

..

24,911

24,182

184058069.LC.FTS.B,

11.04%,

12/14/24

..

5,813

5,621

184180420.LC.FTS.B,

11.24%,

12/14/24

..

3,490

3,441

184125481.LC.FTS.B,

14.44%,

12/14/24

..

6,702

6,537

184056676.LC.FTS.B,

15.99%,

12/14/24

..

4,205

4,014

184105133.LC.FTS.B,

15.99%,

12/14/24

..

11,002

10,648

184157711.LC.FTS.B,

16.19%,

12/14/24

..

3,731

3,652

183304150.LC.FTS.B,

16.49%,

12/14/24

..

9,683

9,502

183637140.LC.FTS.B,

16.99%,

12/14/24

..

12,998

10,139

184053243.LC.FTS.B,

17.44%,

12/14/24

..

13,925

13,130

184078696.LC.FTS.B,

17.99%,

12/14/24

..

8,390

8,209

184127825.LC.FTS.B,

18.44%,

12/14/24

..

5,076

4,955

184162766.LC.FTS.B,

18.44%,

12/14/24

..

13,959

13,626

184058193.LC.FTS.B,

18.49%,

12/14/24

..

8,461

8,259

184068690.LC.FTS.B,

18.49%,

12/14/24

..

8,540

8,215

184063399.LC.FTS.B,

18.99%,

12/14/24

..

5,957

5,838

184111504.LC.FTS.B,

18.99%,

12/14/24

..

10,165

9,922

184143793.LC.FTS.B,

18.99%,

12/14/24

..

8,111

7,917

184065866.LC.FTS.B,

19.49%,

12/14/24

..

10,177

9,700

184107267.LC.FTS.B,

19.49%,

12/14/24

..

8,562

8,408

184091538.LC.FTS.B,

19.99%,

12/14/24

..

5,095

4,934

184106917.LC.FTS.B,

22.99%,

12/14/24

..

10,261

10,027

184111598.LC.FTS.B,

22.99%,

12/14/24

..

2,676

2,614

184202834.LC.FTS.B,

10.49%,

12/15/24

..

13,268

13,086

184081621.LC.FTS.B,

13.99%,

12/15/24

..

10,607

10,150

184051226.LC.FTS.B,

14.99%,

12/15/24

..

29,441

28,317

183869083.LC.FTS.B,

15.19%,

12/15/24

..

8,393

8,239

184073189.LC.FTS.B,

15.19%,

12/15/24

..

4,196

4,119

184193155.LC.FTS.B,

16.49%,

12/15/24

..

10,104

9,840

184141340.LC.FTS.B,

16.99%,

12/15/24

..

15,163

2,723

184164905.LC.FTS.B,

17.44%,

12/15/24

..

23,379

794

184038361.LC.FTS.B,

18.44%,

12/15/24

..

6,332

6,182

184189674.LC.FTS.B,

18.44%,

12/15/24

..

9,814

9,585

183717093.LC.FTS.B,

18.99%,

12/15/24

..

5,930

5,802

184104394.LC.FTS.B,

18.99%,

12/15/24

..

21,178

20,677

184121922.LC.FTS.B,

18.99%,

12/15/24

..

12,198

11,910

184099284.LC.FTS.B,

19.49%,

12/15/24

..

21,203

20,701

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

245

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

LendingClub

Corp.

-

LCX

PM

(continued)

184168105.LC.FTS.B,

19.49%,

12/15/24

..

$

16,962

$

16,561

184167427.LC.FTS.B,

19.99%,

12/15/24

..

21,138

20,748

184148052.LC.FTS.B,

20.99%,

12/15/24

..

2,892

2,830

184076230.LC.FTS.B,

21.99%,

12/15/24

..

5,119

5,004

184168561.LC.FTS.B,

21.99%,

12/15/24

..

3,093

3,036

183398584.LC.FTS.B,

22.99%,

12/15/24

..

3,512

2,749

184125379.LC.FTS.B,

10.34%,

12/16/24

..

15,750

14,985

184213707.LC.FTS.B,

10.34%,

12/16/24

..

29,842

29,440

184200182.LC.FTS.B,

13.19%,

12/16/24

..

18,357

17,993

184176024.LC.FTS.B,

13.99%,

12/16/24

..

16,736

16,527

184230024.LC.FTS.B,

15.44%,

12/16/24

..

13,437

13,198

184116383.LC.FTS.B,

15.99%,

12/16/24

..

9,251

9,085

184167764.LC.FTS.B,

15.99%,

12/16/24

..

13,772

13,533

184220816.LC.FTS.B,

16.19%,

12/16/24

..

8,405

8,243

184016559.LC.FTS.B,

16.44%,

12/16/24

..

5,347

5,196

184121693.LC.FTS.B,

16.49%,

12/16/24

..

8,420

8,286

184149278.LC.FTS.B,

16.49%,

12/16/24

..

10,946

10,750

183752485.LC.FTS.B,

16.99%,

12/16/24

..

16,861

16,558

184118078.LC.FTS.B,

17.44%,

12/16/24

..

4,220

4,144

184233839.LC.FTS.B,

18.44%,

12/16/24

..

8,460

8,266

184234038.LC.FTS.B,

18.44%,

12/16/24

..

9,306

9,093

184185726.LC.FTS.B,

18.99%,

12/16/24

..

6,090

5,931

184197580.LC.FTS.B,

18.99%,

12/16/24

..

6,128

6,012

184177932.LC.FTS.B,

24.99%,

12/16/24

..

8,464

3,197

183733171.LC.FTS.B,

Zero

Cpn,

12/17/24

4,598

435

183604911.LC.FTS.B,

10.24%,

12/17/24

..

7,870

7,621

184046212.LC.FTS.B,

11.99%,

12/17/24

..

3,330

3,311

184250542.LC.FTS.B,

12.49%,

12/17/24

..

6,669

6,587

184245291.LC.FTS.B,

13.19%,

12/17/24

..

29,228

28,870

184142932.LC.FTS.B,

13.99%,

12/17/24

..

19,246

18,336

184191218.LC.FTS.B,

13.99%,

12/17/24

..

12,989

12,734

184235593.LC.FTS.B,

15.19%,

12/17/24

..

2,098

2,061

184273574.LC.FTS.B,

15.44%,

12/17/24

..

20,996

20,464

184248232.LC.FTS.B,

16.19%,

12/17/24

..

4,207

4,133

184243149.LC.FTS.B,

16.49%,

12/17/24

..

10,104

9,925

184243930.LC.FTS.B,

16.49%,

12/17/24

..

5,052

4,963

184125400.LC.FTS.B,

16.99%,

12/17/24

..

15,086

14,702

184208226.LC.FTS.B,

17.44%,

12/17/24

..

6,752

6,632

184015727.LC.FTS.B,

18.99%,

12/17/24

..

8,471

8,279

184246546.LC.FTS.B,

18.99%,

12/17/24

..

16,942

16,559

184252044.LC.FTS.B,

18.99%,

12/17/24

..

5,379

5,257

184252099.LC.FTS.B,

18.99%,

12/17/24

..

4,236

4,140

184253714.LC.FTS.B,

19.49%,

12/17/24

..

21,970

21,468

183943415.LC.FTS.B,

19.99%,

12/17/24

..

12,737

12,448

184236479.LC.FTS.B,

19.99%,

12/17/24

..

21,228

20,746

184186523.LC.FTS.B,

9.29%,

12/20/24

...

11,573

11,058

184135047.LC.FTS.B,

11.04%,

12/20/24

..

30,211

22,807

184238507.LC.FTS.B,

12.49%,

12/20/24

..

3,972

3,867

184245796.LC.FTS.B,

14.44%,

12/20/24

..

11,728

11,358

183409645.LC.FTS.B,

14.49%,

12/20/24

..

20,108

19,787

184065895.LC.FTS.B,

15.49%,

12/20/24

..

10,079

9,905

184226087.LC.FTS.B,

15.49%,

12/20/24

..

11,759

11,328

184277567.LC.FTS.B,

15.49%,

12/20/24

..

7,643

7,511

184295872.LC.FTS.B,

15.49%,

12/20/24

..

5,551

5,470

184235158.LC.FTS.B,

15.99%,

12/20/24

..

5,419

5,227

184281222.LC.FTS.B,

15.99%,

12/20/24

..

8,410

8,264

184264223.LC.FTS.B,

16.49%,

12/20/24

..

25,723

25,277

184274458.LC.FTS.B,

18.49%,

12/20/24

..

15,230

14,892

Description

Principal

Amount

Value

LendingClub

Corp.

-

LCX

PM

(continued)

184210526.LC.FTS.B,

18.99%,

12/20/24

..

$

12,198

$

11,928

184281792.LC.FTS.B,

18.99%,

12/20/24

..

4,236

4,142

184284744.LC.FTS.B,

18.99%,

12/20/24

..

2,965

2,899

184374598.LC.FTS.B,

12.19%,

12/21/24

..

8,169

8,079

184409177.LC.FTS.B,

12.24%,

12/21/24

..

17,307

16,969

184364758.LC.FTS.B,

12.49%,

12/21/24

..

1,250

1,236

184279960.LC.FTS.B,

13.99%,

12/21/24

..

25,924

24,718

184342167.LC.FTS.B,

13.99%,

12/21/24

..

837

824

184344324.LC.FTS.B,

14.19%,

12/21/24

..

6,698

6,618

183895252.LC.FTS.B,

14.44%,

12/21/24

..

12,566

11,924

184365775.LC.FTS.B,

14.49%,

12/21/24

..

16,757

16,557

184282726.LC.FTS.B,

15.19%,

12/21/24

..

8,690

8,544

184315459.LC.FTS.B,

15.49%,

12/21/24

..

13,430

12,940

183797655.LC.FTS.B,

15.99%,

12/21/24

..

15,661

15,275

184342759.LC.FTS.B,

15.99%,

12/21/24

..

8,830

8,542

184378148.LC.FTS.B,

16.19%,

12/21/24

..

5,659

5,563

183992321.LC.FTS.B,

17.44%,

12/21/24

..

33,883

32,428

184336095.LC.FTS.B,

17.44%,

12/21/24

..

10,127

9,914

184350898.LC.FTS.B,

17.44%,

12/21/24

..

12,659

12,393

184370090.LC.FTS.B,

17.99%,

12/21/24

..

2,535

2,492

184373489.LC.FTS.B,

18.19%,

12/21/24

..

2,619

2,571

184253510.LC.FTS.B,

18.49%,

12/21/24

..

15,230

14,897

183457596.LC.FTS.B,

18.99%,

12/21/24

..

9,445

9,299

183801171.LC.FTS.B,

18.99%,

12/21/24

..

8,471

8,187

184364340.LC.FTS.B,

18.99%,

12/21/24

..

6,586

822

184376915.LC.FTS.B,

18.99%,

12/21/24

..

16,265

15,908

184340869.LC.FTS.B,

22.99%,

12/21/24

..

4,446

4,338

184405061.LC.FTS.B,

11.84%,

12/22/24

..

8,337

8,243

184369171.LC.FTS.B,

12.19%,

12/22/24

..

8,329

8,138

184346927.LC.FTS.B,

13.24%,

12/22/24

..

25,115

24,286

184320356.LC.FTS.B,

13.44%,

12/22/24

..

8,273

7,886

184378127.LC.FTS.B,

13.99%,

12/22/24

..

20,919

20,601

184353845.LC.FTS.B,

15.99%,

12/22/24

..

8,410

8,140

184087692.LC.FTS.B,

18.99%,

12/22/24

..

20,115

19,760

184102807.LC.FTS.B,

18.99%,

12/22/24

..

21,179

20,778

184149207.LC.FTS.B,

18.99%,

12/22/24

..

8,641

8,459

184394307.LC.FTS.B,

18.99%,

12/22/24

..

3,812

3,732

184090151.LC.FTS.B,

19.99%,

12/22/24

..

26,153

20,483

184441891.LC.FTS.B,

8.99%,

12/23/24

...

11,492

11,401

184389245.LC.FTS.B,

11.99%,

12/23/24

..

24,976

24,455

184048740.LC.FTS.B,

12.49%,

12/23/24

..

14,796

14,515

184408809.LC.FTS.B,

13.44%,

12/23/24

..

12,873

12,678

184422373.LC.FTS.B,

13.99%,

12/23/24

..

4,007

3,963

184395760.LC.FTS.B,

15.99%,

12/23/24

..

2,523

2,432

184439347.LC.FTS.B,

15.99%,

12/23/24

..

2,186

2,151

184431796.LC.FTS.B,

16.44%,

12/23/24

..

5,893

5,797

184090890.LC.FTS.B,

16.49%,

12/23/24

..

5,048

4,966

184389514.LC.FTS.B,

16.99%,

12/23/24

..

8,430

8,226

184408132.LC.FTS.B,

16.99%,

12/23/24

..

16,601

16,357

183756956.LC.FTS.B,

17.49%,

12/23/24

..

9,285

9,133

184192472.LC.FTS.B,

17.99%,

12/23/24

..

7,225

7,107

184435348.LC.FTS.B,

17.99%,

12/23/24

..

4,225

4,156

184412079.LC.FTS.B,

18.99%,

12/23/24

..

8,774

8,587

184272023.LC.FTS.B,

19.49%,

12/23/24

..

13,146

12,871

184367167.LC.FTS.B,

21.49%,

12/23/24

..

5,965

5,851

184415798.LC.FTS.B,

22.99%,

12/23/24

..

8,805

8,656

184434456.LC.FTS.B,

23.99%,

12/23/24

..

14,041

13,732

184379124.LC.FTS.B,

9.29%,

12/27/24

...

20,667

19,583

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

246

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

LendingClub

Corp.

-

LCX

PM

(continued)

184428613.LC.FTS.B,

13.24%,

12/27/24

..

$

25,056

$

24,290

184447670.LC.FTS.B,

14.44%,

12/27/24

..

8,377

8,286

184441920.LC.FTS.B,

14.99%,

12/27/24

..

4,371

4,330

184448743.LC.FTS.B,

15.99%,

12/27/24

..

9,419

9,271

184418501.LC.FTS.B,

16.19%,

12/27/24

..

5,048

4,929

184454192.LC.FTS.B,

16.19%,

12/27/24

..

7,152

7,039

184443285.LC.FTS.B,

16.49%,

12/27/24

..

29,406

28,578

183010571.LC.FTS.B,

16.99%,

12/27/24

..

467

466

184445591.LC.FTS.B,

17.44%,

12/27/24

..

16,879

16,612

184228216.LC.FTS.B,

18.44%,

12/27/24

..

23,688

23,211

184457887.LC.FTS.B,

18.49%,

12/27/24

..

10,153

9,949

184034650.LC.FTS.B,

18.99%,

12/27/24

..

9,976

9,776

183589846.LC.FTS.B,

19.44%,

12/27/24

..

29,678

29,114

184460632.LC.FTS.B,

22.99%,

12/27/24

..

1,454

1,427

171045369.LC.FTS.B,

16.08%,

10/07/25

..

7,362

7,130

171130012.LC.FTS.B,

17.3%,

10/09/25

...

8,845

8,444

170762714.LC.FTS.B,

16.08%,

10/13/25

..

14,724

14,222

170898869.LC.FTS.B,

18.24%,

10/16/25

..

11,216

10,748

171643853.LC.FTS.B,

16.08%,

10/29/25

..

7,505

7,295

171671693.LC.FTS.B,

13.33%,

11/04/25

..

4,269

4,076

171825004.LC.FTS.B,

15.4%,

11/06/25

...

20,922

20,258

171885695.LC.FTS.B,

18.24%,

11/09/25

..

7,659

7,323

171893215.LC.FTS.B,

16.08%,

11/10/25

..

15,010

14,261

171905795.LC.FTS.B,

16.08%,

11/10/25

..

9,943

9,639

171709430.LC.FTS.B,

13.33%,

11/13/25

..

16,339

14,720

172000836.LC.FTS.B,

15.4%,

11/13/25

...

15,061

14,640

172802413.LC.FTS.B,

16.08%,

12/09/25

..

13,763

13,321

172424365.LC.FTS.B,

15.4%,

12/14/25

...

8,410

8,157

172894773.LC.FTS.B,

15.4%,

12/14/25

...

7,636

7,403

172876605.LC.FTS.B,

17.3%,

12/14/25

...

9,243

8,816

172382360.LC.FTS.B,

14.02%,

12/15/25

..

9,059

8,781

172979926.LC.FTS.B,

16.08%,

12/15/25

..

9,259

8,980

172960729.LC.FTS.B,

14.02%,

12/18/25

..

16,608

15,756

172834572.LC.FTS.B,

15.4%,

12/18/25

...

11,461

11,127

172871335.LC.FTS.B,

17.3%,

12/18/25

...

26,959

25,874

173134451.LC.FTS.B,

16.08%,

12/21/25

..

19,115

18,544

173018414.LC.FTS.B,

13.33%,

12/22/25

..

12,025

11,414

173075170.LC.FTS.B,

19.12%,

12/22/25

..

8,564

8,261

173403754.LC.FTS.B,

18.24%,

12/30/25

..

10,973

10,499

172563412.LC.FTS.B,

16.08%,

12/31/25

..

27,113

26,198

173277936.LC.FTS.B,

16.08%,

12/31/25

..

31,122

30,070

173400785.LC.FTS.B,

16.08%,

12/31/25

..

7,864

7,619

173378479.LC.FTS.B,

17.3%,

12/31/25

...

24,308

4,238

173395883.LC.FTS.B,

17.3%,

12/31/25

...

19,586

18,252

173394313.LC.FTS.B,

16.08%,

1/04/26

...

13,624

13,260

173423229.LC.FTS.B,

16.08%,

1/04/26

...

15,571

15,155

173430575.LC.FTS.B,

16.08%,

1/04/26

...

19,464

18,944

173012538.LC.FTS.B,

20.74%,

1/04/26

...

27,882

26,663

173604231.LC.FTS.B,

14.02%,

1/12/26

...

13,846

12,692

173383392.LC.FTS.B,

15.4%,

1/12/26

...

9,306

8,818

173663810.LC.FTS.B,

17.3%,

1/12/26

...

6,664

6,358

173377479.LC.FTS.B,

18.24%,

1/12/26

...

31,602

30,352

173666949.LC.FTS.B,

20.74%,

1/12/26

...

8,088

7,792

174084354.LC.FTS.B,

12.49%,

1/26/26

...

30,485

28,346

174042657.LC.FTS.B,

13.74%,

1/26/26

...

14,903

14,114

174224259.LC.FTS.B,

14.74%,

1/28/26

...

19,660

19,343

174102738.LC.FTS.B,

15.44%,

1/28/26

...

6,358

6,183

173441334.LC.FTS.B,

17.3%,

1/28/26

...

28,223

27,271

Description

Principal

Amount

Value

LendingClub

Corp.

-

LCX

PM

(continued)

174232024.LC.FTS.B,

21.49%,

1/29/26

...

$

14,421

$

14,193

174293135.LC.FTS.B,

14.74%,

2/04/26

...

25,895

24,569

174332832.LC.FTS.B,

15.99%,

2/04/26

...

21,804

20,973

174267823.LC.FTS.B,

16.99%,

2/04/26

...

11,916

11,590

174354729.LC.FTS.B,

17.24%,

2/04/26

...

15,945

15,517

174206502.LC.FTS.B,

17.99%,

2/04/26

...

26,113

25,595

174043763.LC.FTS.B,

20.44%,

2/04/26

...

23

23

174362204.LC.FTS.B,

11.99%,

2/05/26

...

20,131

19,549

174297080.LC.FTS.B,

15.74%,

2/05/26

...

7,908

7,671

174320226.LC.FTS.B,

16.19%,

2/05/26

...

6,342

6,241

174453354.LC.FTS.B,

16.74%,

2/08/26

...

28,084

27,470

174284597.LC.FTS.B,

17.44%,

2/08/26

...

10,067

9,855

181324642.LC.FTS.B,

15.19%,

10/13/26

..

26,809

24,553

182208099.LC.FTS.B,

24.99%,

10/13/26

..

22,915

22,165

182097380.LC.FTS.B,

28.99%,

10/13/26

..

14,484

14,077

181449908.LC.FTS.B,

Zero

Cpn,

10/14/26

17,331

1,619

182237890.LC.FTS.B,

18.49%,

10/14/26

..

13,527

12,693

181671017.LC.FTS.B,

19.49%,

10/14/26

..

21,701

20,989

181681556.LC.FTS.B,

19.49%,

10/14/26

..

13,563

13,118

181977814.LC.FTS.B,

19.49%,

10/14/26

..

16,647

15,805

182185437.LC.FTS.B,

19.99%,

10/14/26

..

14,815

14,156

182072801.LC.FTS.B,

21.99%,

10/14/26

..

14,571

14,127

182261797.LC.FTS.B,

21.99%,

10/14/26

..

22,898

22,292

182230252.LC.FTS.B,

23.19%,

10/14/26

..

9,232

7,188

182219920.LC.FTS.B,

23.99%,

10/14/26

..

26,811

26,065

182220241.LC.FTS.B,

23.99%,

10/14/26

..

7,773

7,558

182308436.LC.FTS.B,

23.99%,

10/14/26

..

22,861

22,230

182323369.LC.FTS.B,

23.99%,

10/14/26

..

18,348

17,857

182135115.LC.FTS.B,

24.99%,

10/14/26

..

22,265

21,800

182272740.LC.FTS.B,

28.99%,

10/14/26

..

22,312

21,746

182337953.LC.FTS.B,

15.19%,

10/15/26

..

14,760

14,529

182281831.LC.FTS.B,

19.49%,

10/15/26

..

17,485

16,995

182239660.LC.FTS.B,

19.99%,

10/15/26

..

13,581

13,250

182334335.LC.FTS.B,

23.99%,

10/15/26

..

18,494

14,348

182100249.LC.FTS.B,

28.99%,

10/15/26

..

9,248

8,990

182196271.LC.FTS.B,

20.49%,

10/18/26

..

9,066

8,848

182171506.LC.FTS.B,

21.49%,

10/18/26

..

21,813

21,236

182350782.LC.FTS.B,

21.49%,

10/18/26

..

23,131

22,519

182184928.LC.FTS.B,

21.99%,

10/18/26

..

19,510

18,909

182283124.LC.FTS.B,

21.99%,

10/18/26

..

18,655

18,160

182351714.LC.FTS.B,

23.99%,

10/18/26

..

9,144

8,899

182365065.LC.FTS.B,

23.99%,

10/18/26

..

7,316

7,120

182372852.LC.FTS.B,

23.99%,

10/18/26

..

18,267

17,777

182249975.LC.FTS.B,

25.99%,

10/18/26

..

11,273

10,948

181832576.LC.FTS.B,

27.49%,

10/18/26

..

23,045

22,417

182312904.LC.FTS.B,

28.99%,

10/18/26

..

8,320

6,518

182374675.LC.FTS.B,

17.49%,

10/19/26

..

22,485

20,977

182419678.LC.FTS.B,

19.99%,

10/19/26

..

19,919

19,447

182404645.LC.FTS.B,

20.24%,

10/19/26

..

31,709

30,825

182398569.LC.FTS.B,

20.49%,

10/19/26

..

22,644

8,427

181963473.LC.FTS.B,

21.49%,

10/19/26

..

10,906

10,394

182416200.LC.FTS.B,

21.49%,

10/19/26

..

18,177

17,702

182400368.LC.FTS.B,

24.99%,

10/19/26

..

3,742

3,627

182267011.LC.FTS.B,

28.99%,

10/19/26

..

18,497

17,918

182424479.LC.FTS.B,

28.99%,

10/19/26

..

18,282

17,715

182447710.LC.FTS.B,

18.44%,

10/20/26

..

17,313

16,838

182489147.LC.FTS.B,

18.99%,

10/20/26

..

31,606

30,737

182373053.LC.FTS.B,

20.44%,

10/20/26

..

18,129

17,703

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

247

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

LendingClub

Corp.

-

LCX

PM

(continued)

182400546.LC.FTS.B,

20.44%,

10/20/26

..

$

6,314

$

6,087

182279442.LC.FTS.B,

21.99%,

10/20/26

..

21,840

21,184

182329589.LC.FTS.B,

24.99%,

10/20/26

..

7,546

7,365

182381955.LC.FTS.B,

26.99%,

10/20/26

..

3,683

3,586

182420043.LC.FTS.B,

26.99%,

10/20/26

..

18,608

17,951

182761301.LC.FTS.B,

14.74%,

11/01/26

..

24,051

23,500

182784886.LC.FTS.B,

16.49%,

11/01/26

..

22,725

22,292

182342567.LC.FTS.B,

16.99%,

11/01/26

..

11,650

11,042

182543501.LC.FTS.B,

16.99%,

11/01/26

..

9,101

8,927

182782330.LC.FTS.B,

17.44%,

11/01/26

..

18,437

18,112

182493547.LC.FTS.B,

17.49%,

11/01/26

..

27,482

26,463

182761588.LC.FTS.B,

18.49%,

11/01/26

..

18,409

18,006

182737896.LC.FTS.B,

19.49%,

11/01/26

..

17,557

17,176

182165350.LC.FTS.B,

20.99%,

11/01/26

..

22,253

21,768

182708985.LC.FTS.B,

21.99%,

11/01/26

..

12,890

12,280

182412380.LC.FTS.B,

23.99%,

11/01/26

..

9,206

8,880

182729893.LC.FTS.B,

23.99%,

11/01/26

..

18,439

17,376

182763696.LC.FTS.B,

23.99%,

11/01/26

..

13,871

13,438

182663344.LC.FTS.B,

24.99%,

11/01/26

..

16,680

15,605

182718150.LC.FTS.B,

24.99%,

11/01/26

..

6,748

6,582

182765403.LC.FTS.B,

24.99%,

11/01/26

..

8,428

8,216

182770234.LC.FTS.B,

24.99%,

11/01/26

..

11,120

10,772

182753052.LC.FTS.B,

25.99%,

11/01/26

..

22,285

21,584

182747742.LC.FTS.B,

28.99%,

11/01/26

..

3,441

2,696

182537821.LC.FTS.B,

14.99%,

11/02/26

..

13,303

13,034

182785608.LC.FTS.B,

15.19%,

11/02/26

..

26,276

24,697

182425449.LC.FTS.B,

15.44%,

11/02/26

..

13,600

12,782

182814285.LC.FTS.B,

15.44%,

11/02/26

..

25,386

24,176

182836852.LC.FTS.B,

17.44%,

11/02/26

..

20,500

20,112

182530390.LC.FTS.B,

21.49%,

11/02/26

..

20,427

19,569

182857090.LC.FTS.B,

21.99%,

11/02/26

..

13,475

13,139

182860477.LC.FTS.B,

21.99%,

11/02/26

..

23,033

22,363

182871113.LC.FTS.B,

21.99%,

11/02/26

..

18,415

17,852

182843663.LC.FTS.B,

22.49%,

11/02/26

..

4,424

4,271

182842302.LC.FTS.B,

23.99%,

11/02/26

..

19,183

2,235

182798212.LC.FTS.B,

24.99%,

11/02/26

..

11,120

10,591

182810881.LC.FTS.B,

28.99%,

11/02/26

..

5,604

5,334

182655109.LC.FTS.B,

13.19%,

11/03/26

..

20,732

20,437

182956146.LC.FTS.B,

13.49%,

11/03/26

..

13,532

13,227

182918122.LC.FTS.B,

17.74%,

11/03/26

..

5,523

5,444

182925439.LC.FTS.B,

18.19%,

11/03/26

..

9,447

7,376

182715994.LC.FTS.B,

18.99%,

11/03/26

..

10,494

10,218

182920963.LC.FTS.B,

18.99%,

11/03/26

..

25,774

25,217

182925976.LC.FTS.B,

18.99%,

11/03/26

..

7,316

7,123

182926067.LC.FTS.B,

20.99%,

11/03/26

..

23,211

22,705

182925584.LC.FTS.B,

21.49%,

11/03/26

..

18,395

17,839

182894263.LC.FTS.B,

22.49%,

11/03/26

..

22,316

21,757

182864988.LC.FTS.B,

24.49%,

11/03/26

..

18,514

17,948

182871003.LC.FTS.B,

24.99%,

11/03/26

..

16,680

16,169

182883867.LC.FTS.B,

24.99%,

11/03/26

..

6,487

6,288

182888667.LC.FTS.B,

24.99%,

11/03/26

..

9,461

3,594

182931056.LC.FTS.B,

Zero

Cpn,

11/04/26

9,745

4,656

182932552.LC.FTS.B,

13.19%,

11/04/26

..

13,516

13,330

182954228.LC.FTS.B,

13.49%,

11/04/26

..

24,510

24,051

182934282.LC.FTS.B,

15.44%,

11/04/26

..

12,693

12,464

182931569.LC.FTS.B,

17.49%,

11/04/26

..

21,163

20,870

182296093.LC.FTS.B,

18.19%,

11/04/26

..

5,477

5,337

182957590.LC.FTS.B,

18.99%,

11/04/26

..

18,290

17,821

Description

Principal

Amount

Value

LendingClub

Corp.

-

LCX

PM

(continued)

182916807.LC.FTS.B,

19.12%,

11/04/26

..

$

16,605

$

16,261

182452855.LC.FTS.B,

19.44%,

11/04/26

..

9,266

241

182675743.LC.FTS.B,

19.49%,

11/04/26

..

32,278

31,592

182725535.LC.FTS.B,

19.49%,

11/04/26

..

21,973

21,409

182810684.LC.FTS.B,

21.49%,

11/04/26

..

18,528

18,076

182905174.LC.FTS.B,

22.99%,

11/04/26

..

21,625

21,057

182386753.LC.FTS.B,

23.19%,

11/04/26

..

18,462

17,916

182894637.LC.FTS.B,

24.99%,

11/04/26

..

23,441

22,933

182841357.LC.FTS.B,

26.49%,

11/04/26

..

17,658

17,129

182897546.LC.FTS.B,

27.49%,

11/04/26

..

23,550

23,010

181746904.LC.FTS.B,

12.99%,

11/05/26

..

27,187

26,626

183005424.LC.FTS.B,

13.49%,

11/05/26

..

12,988

12,732

182986114.LC.FTS.B,

15.44%,

11/05/26

..

13,600

13,357

182956744.LC.FTS.B,

16.49%,

11/05/26

..

27,270

26,442

182970406.LC.FTS.B,

16.99%,

11/05/26

..

27,304

26,813

182845986.LC.FTS.B,

19.99%,

11/05/26

..

8,016

7,812

182240755.LC.FTS.B,

20.44%,

11/05/26

..

17,494

16,950

182469398.LC.FTS.B,

21.99%,

11/05/26

..

18,415

17,880

182921002.LC.FTS.B,

23.99%,

11/05/26

..

12,121

11,822

182924017.LC.FTS.B,

23.99%,

11/05/26

..

17,107

16,626

182931548.LC.FTS.B,

24.99%,

11/05/26

..

10,255

9,990

182433195.LC.FTS.B,

25.99%,

11/05/26

..

8,171

7,930

182921955.LC.FTS.B,

28.99%,

11/05/26

..

4,538

4,400

182998182.LC.FTS.B,

13.19%,

11/08/26

..

8,924

8,804

182567782.LC.FTS.B,

13.74%,

11/08/26

..

22,567

22,076

183000324.LC.FTS.B,

15.44%,

11/08/26

..

6,030

5,952

182834096.LC.FTS.B,

15.49%,

11/08/26

..

24,393

23,930

183010490.LC.FTS.B,

16.49%,

11/08/26

..

20,033

19,117

182977646.LC.FTS.B,

16.99%,

11/08/26

..

27,429

27,028

182999628.LC.FTS.B,

17.74%,

11/08/26

..

10,987

10,824

183031560.LC.FTS.B,

18.19%,

11/08/26

..

14,534

14,038

182975891.LC.FTS.B,

18.49%,

11/08/26

..

13,551

13,236

182873325.LC.FTS.B,

23.19%,

11/08/26

..

9,232

8,966

182999016.LC.FTS.B,

23.99%,

11/08/26

..

32,694

31,937

182785786.LC.FTS.B,

24.99%,

11/08/26

..

18,799

3,362

182942183.LC.FTS.B,

24.99%,

11/08/26

..

4,679

4,572

182962134.LC.FTS.B,

24.99%,

11/08/26

..

18,645

18,173

182779398.LC.FTS.B,

27.99%,

11/08/26

..

22,820

17,918

183159318.LC.FTS.B,

15.44%,

11/12/26

..

16,321

16,076

183128706.LC.FTS.B,

16.99%,

11/12/26

..

8,737

8,446

182541261.LC.FTS.B,

17.99%,

11/12/26

..

12,773

12,507

183149701.LC.FTS.B,

18.49%,

11/12/26

..

27,402

26,759

183157728.LC.FTS.B,

18.49%,

11/12/26

..

10,962

10,721

183030288.LC.FTS.B,

18.99%,

11/12/26

..

15,364

14,550

182988585.LC.FTS.B,

19.49%,

11/12/26

..

13,733

13,409

183139110.LC.FTS.B,

19.74%,

11/12/26

..

32,063

31,171

183032996.LC.FTS.B,

19.99%,

11/12/26

..

17,813

16,916

182925771.LC.FTS.B,

23.99%,

11/12/26

..

32,365

31,220

183115274.LC.FTS.B,

24.99%,

11/12/26

..

8,803

8,605

182573041.LC.FTS.B,

Zero

Cpn,

11/15/26

19,363

1,818

183224681.LC.FTS.B,

13.49%,

11/15/26

..

14,434

14,135

183193272.LC.FTS.B,

15.44%,

11/15/26

..

4,857

4,791

183126500.LC.FTS.B,

16.44%,

11/15/26

..

14,542

14,001

182911086.LC.FTS.B,

16.49%,

11/15/26

..

27,270

26,024

183013124.LC.FTS.B,

16.99%,

11/15/26

..

13,652

13,431

183101425.LC.FTS.B,

17.44%,

11/15/26

..

25,511

25,097

183180134.LC.FTS.B,

19.49%,

11/15/26

..

32,046

31,350

183147387.LC.FTS.B,

19.99%,

11/15/26

..

21,999

21,487

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

248

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

LendingClub

Corp.

-

LCX

PM

(continued)

183015727.LC.FTS.B,

20.44%,

11/15/26

..

$

13,736

$

13,416

183158266.LC.FTS.B,

20.44%,

11/15/26

..

18,638

3,357

183084148.LC.FTS.B,

21.49%,

11/15/26

..

6,865

6,684

182379386.LC.FTS.B,

23.99%,

11/15/26

..

20,344

19,805

182946956.LC.FTS.B,

24.99%,

11/15/26

..

17,792

17,168

182786114.LC.FTS.B,

28.99%,

11/15/26

..

5,603

5,451

183152720.LC.FTS.B,

28.99%,

11/15/26

..

18,770

18,318

183159092.LC.FTS.B,

28.99%,

11/15/26

..

6,538

6,361

183179352.LC.FTS.B,

14.49%,

11/16/26

..

18,459

17,764

183274263.LC.FTS.B,

15.44%,

11/16/26

..

18,503

18,210

183121003.LC.FTS.B,

15.99%,

11/16/26

..

13,618

12,999

183304070.LC.FTS.B,

15.99%,

11/16/26

..

33,546

32,714

183227368.LC.FTS.B,

16.44%,

11/16/26

..

22,268

21,443

183238822.LC.FTS.B,

16.99%,

11/16/26

..

21,682

20,911

183293164.LC.FTS.B,

17.49%,

11/16/26

..

6,379

6,276

183295428.LC.FTS.B,

17.49%,

11/16/26

..

11,482

11,200

183287259.LC.FTS.B,

18.19%,

11/16/26

..

9,974

9,714

183154136.LC.FTS.B,

18.49%,

11/16/26

..

9,134

8,925

183174334.LC.FTS.B,

19.49%,

11/16/26

..

24,171

23,616

183200190.LC.FTS.B,

19.49%,

11/16/26

..

5,493

5,344

182845074.LC.FTS.B,

20.99%,

11/16/26

..

25,039

24,499

183136939.LC.FTS.B,

21.49%,

11/16/26

..

22,993

22,011

183270743.LC.FTS.B,

21.49%,

11/16/26

..

14,831

14,521

183239755.LC.FTS.B,

21.99%,

11/16/26

..

23,019

22,422

183270410.LC.FTS.B,

21.99%,

11/16/26

..

14,732

14,350

183263467.LC.FTS.B,

23.99%,

11/16/26

..

9,247

9,005

183203230.LC.FTS.B,

24.99%,

11/16/26

..

8,105

45

183239325.LC.FTS.B,

24.99%,

11/16/26

..

13,263

12,882

183197788.LC.FTS.B,

25.99%,

11/16/26

..

18,735

17,946

183217981.LC.FTS.B,

28.99%,

11/16/26

..

19,054

18,544

183267202.LC.FTS.B,

12.99%,

11/17/26

..

13,514

13,239

183252907.LC.FTS.B,

16.49%,

11/17/26

..

14,369

14,162

183321499.LC.FTS.B,

16.49%,

11/17/26

..

2,909

2,863

183092655.LC.FTS.B,

16.99%,

11/17/26

..

31,990

30,890

183340558.LC.FTS.B,

17.74%,

11/17/26

..

30,089

29,612

183270309.LC.FTS.B,

18.99%,

11/17/26

..

22,862

22,344

183320582.LC.FTS.B,

18.99%,

11/17/26

..

14,556

14,196

183167278.LC.FTS.B,

20.99%,

11/17/26

..

23,065

22,617

183205988.LC.FTS.B,

20.99%,

11/17/26

..

32,543

25,366

183336838.LC.FTS.B,

20.99%,

11/17/26

..

22,049

21,545

182790988.LC.FTS.B,

24.99%,

11/17/26

..

18,621

18,199

183253428.LC.FTS.B,

25.99%,

11/17/26

..

18,571

18,087

183293391.LC.FTS.B,

Zero

Cpn,

11/18/26

12,938

1,204

183298862.LC.FTS.B,

14.19%,

11/18/26

..

36,236

35,896

182922353.LC.FTS.B,

15.49%,

11/18/26

..

31,736

31,257

183320473.LC.FTS.B,

16.49%,

11/18/26

..

29,088

27,780

183359968.LC.FTS.B,

16.49%,

11/18/26

..

20,033

19,675

183371257.LC.FTS.B,

17.74%,

11/18/26

..

27,354

26,935

183368090.LC.FTS.B,

19.49%,

11/18/26

..

10,071

9,849

183362865.LC.FTS.B,

20.99%,

11/18/26

..

27,719

27,207

183321695.LC.FTS.B,

21.49%,

11/18/26

..

15,475

15,088

183333618.LC.FTS.B,

21.49%,

11/18/26

..

9,390

9,135

182816829.LC.FTS.B,

21.99%,

11/18/26

..

9,576

9,339

183127870.LC.FTS.B,

21.99%,

11/18/26

..

5,524

5,388

183287872.LC.FTS.B,

23.99%,

11/18/26

..

10,697

10,425

183354100.LC.FTS.B,

23.99%,

11/18/26

..

14,630

14,233

183234734.LC.FTS.B,

27.99%,

11/18/26

..

22,542

22,069

183392833.LC.FTS.B,

15.19%,

11/19/26

..

22,654

22,347

Description

Principal

Amount

Value

LendingClub

Corp.

-

LCX

PM

(continued)

183409505.LC.FTS.B,

15.19%,

11/19/26

..

$

27,185

$

26,817

183369624.LC.FTS.B,

16.44%,

11/19/26

..

5,821

5,732

183394419.LC.FTS.B,

16.49%,

11/19/26

..

4,545

4,477

182856346.LC.FTS.B,

16.99%,

11/19/26

..

13,652

13,447

183390242.LC.FTS.B,

16.99%,

11/19/26

..

27,241

26,579

183397042.LC.FTS.B,

17.74%,

11/19/26

..

22,891

22,562

183403661.LC.FTS.B,

17.74%,

11/19/26

..

13,677

13,470

183371105.LC.FTS.B,

20.49%,

11/19/26

..

21,821

21,377

183197708.LC.FTS.B,

21.99%,

11/19/26

..

22,098

21,559

183146083.LC.FTS.B,

23.99%,

11/19/26

..

18,494

18,039

183385993.LC.FTS.B,

23.99%,

11/19/26

..

4,573

4,459

183391565.LC.FTS.B,

23.99%,

11/19/26

..

6,415

6,256

183401161.LC.FTS.B,

23.99%,

11/19/26

..

13,871

13,529

183350780.LC.FTS.B,

24.99%,

11/19/26

..

5,560

5,422

183355832.LC.FTS.B,

24.99%,

11/19/26

..

23,166

22,594

183306891.LC.FTS.B,

25.99%,

11/19/26

..

13,928

13,582

183338396.LC.FTS.B,

28.99%,

11/19/26

..

11,827

4,505

183436461.LC.FTS.B,

12.74%,

11/22/26

..

32,412

31,778

183435689.LC.FTS.B,

13.24%,

11/22/26

..

20,735

20,329

183333541.LC.FTS.B,

14.19%,

11/22/26

..

19,882

19,492

183428892.LC.FTS.B,

15.99%,

11/22/26

..

10,450

10,311

183358581.LC.FTS.B,

16.49%,

11/22/26

..

11,092

10,913

183108062.LC.FTS.B,

16.99%,

11/22/26

..

18,203

17,934

182980965.LC.FTS.B,

17.24%,

11/22/26

..

18,214

17,945

183417393.LC.FTS.B,

17.24%,

11/22/26

..

21,856

21,254

183434269.LC.FTS.B,

17.24%,

11/22/26

..

7,103

6,998

183367264.LC.FTS.B,

18.49%,

11/22/26

..

22,735

22,209

183424118.LC.FTS.B,

18.49%,

11/22/26

..

16,441

16,091

183425358.LC.FTS.B,

18.49%,

11/22/26

..

7,307

7,152

183430858.LC.FTS.B,

18.49%,

11/22/26

..

10,961

10,681

182558045.LC.FTS.B,

19.49%,

11/22/26

..

13,184

12,902

183418746.LC.FTS.B,

19.49%,

11/22/26

..

27,467

26,879

182905625.LC.FTS.B,

20.99%,

11/22/26

..

16,250

1,806

183414176.LC.FTS.B,

20.99%,

11/22/26

..

7,635

134

183426724.LC.FTS.B,

21.49%,

11/22/26

..

11,037

10,773

183359589.LC.FTS.B,

21.99%,

11/22/26

..

14,014

13,730

183434742.LC.FTS.B,

23.19%,

11/22/26

..

7,616

7,433

183421809.LC.FTS.B,

23.99%,

11/22/26

..

37,504

36,747

183328750.LC.FTS.B,

28.99%,

11/22/26

..

7,275

7,095

183365514.LC.FTS.B,

28.99%,

11/22/26

..

7,440

3,395

183477091.LC.FTS.B,

13.19%,

11/23/26

..

9,014

8,878

183306593.LC.FTS.B,

13.44%,

11/23/26

..

19,844

19,630

183485184.LC.FTS.B,

13.99%,

11/23/26

..

5,420

5,338

183490789.LC.FTS.B,

14.49%,

11/23/26

..

7,236

7,095

182836722.LC.FTS.B,

15%,

11/23/26

....

33,403

32,522

183459184.LC.FTS.B,

15.44%,

11/23/26

..

12,694

12,148

183494555.LC.FTS.B,

15.49%,

11/23/26

..

18,520

18,099

183476845.LC.FTS.B,

16.49%,

11/23/26

..

13,181

12,992

183505251.LC.FTS.B,

16.49%,

11/23/26

..

9,090

8,960

183373318.LC.FTS.B,

16.99%,

11/23/26

..

17,477

17,250

183468715.LC.FTS.B,

17.44%,

11/23/26

..

18,222

17,648

183447586.LC.FTS.B,

17.49%,

11/23/26

..

19,136

18,369

183425539.LC.FTS.B,

18.49%,

11/23/26

..

16,441

16,099

183430694.LC.FTS.B,

18.49%,

11/23/26

..

19,182

18,292

183426450.LC.FTS.B,

18.99%,

11/23/26

..

32,007

31,067

183455680.LC.FTS.B,

20.44%,

11/23/26

..

36,702

35,149

183437929.LC.FTS.B,

20.49%,

11/23/26

..

23,316

22,760

183434882.LC.FTS.B,

20.99%,

11/23/26

..

21,475

20,288

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

249

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

LendingClub

Corp.

-

LCX

PM

(continued)

183303729.LC.FTS.B,

21.99%,

11/23/26

..

$

12,142

$

11,797

183430676.LC.FTS.B,

21.99%,

11/23/26

..

21,177

20,683

183446729.LC.FTS.B,

22.49%,

11/23/26

..

13,826

13,444

182592773.LC.FTS.B,

23.99%,

11/23/26

..

9,401

9,056

183453750.LC.FTS.B,

23.99%,

11/23/26

..

36,989

35,960

183407041.LC.FTS.B,

24.99%,

11/23/26

..

2,224

2,126

183431866.LC.FTS.B,

26.49%,

11/23/26

..

23,067

22,452

183524584.LC.FTS.B,

13.19%,

11/24/26

..

9,010

8,917

183095344.LC.FTS.B,

13.44%,

11/24/26

..

36,080

35,706

183499399.LC.FTS.B,

15.44%,

11/24/26

..

11,076

10,911

183370137.LC.FTS.B,

16.44%,

11/24/26

..

21,814

21,513

183490891.LC.FTS.B,

16.99%,

11/24/26

..

10,935

10,658

183534540.LC.FTS.B,

17.24%,

11/24/26

..

4,553

4,490

183249731.LC.FTS.B,

17.49%,

11/24/26

..

12,690

12,489

183545708.LC.FTS.B,

18.49%,

11/24/26

..

16,339

16,008

183470077.LC.FTS.B,

18.99%,

11/24/26

..

22,700

22,176

182933015.LC.FTS.B,

19.49%,

11/24/26

..

25,636

25,118

182954964.LC.FTS.B,

19.49%,

11/24/26

..

19,685

19,287

183552245.LC.FTS.B,

19.99%,

11/24/26

..

22,241

642

183384203.LC.FTS.B,

20.49%,

11/24/26

..

14,452

14,154

183287022.LC.FTS.B,

21.99%,

11/24/26

..

18,417

18,025

182882013.LC.FTS.B,

24.99%,

11/24/26

..

18,533

18,111

183497464.LC.FTS.B,

27.99%,

11/24/26

..

7,458

7,286

183519699.LC.FTS.B,

Zero

Cpn,

11/26/26

19,714

1,855

183562559.LC.FTS.B,

15.24%,

11/26/26

..

25,373

24,815

183499719.LC.FTS.B,

15.44%,

11/26/26

..

13,600

12,949

183557623.LC.FTS.B,

16.19%,

11/26/26

..

13,625

13,324

183499818.LC.FTS.B,

16.44%,

11/26/26

..

36,356

35,083

183532051.LC.FTS.B,

16.49%,

11/26/26

..

5,818

5,739

183566565.LC.FTS.B,

16.49%,

11/26/26

..

11,363

11,209

183512455.LC.FTS.B,

16.99%,

11/26/26

..

24,186

23,447

183547689.LC.FTS.B,

16.99%,

11/26/26

..

13,928

13,740

183548843.LC.FTS.B,

17.19%,

11/26/26

..

9,106

8,943

183549091.LC.FTS.B,

18.44%,

11/26/26

..

9,133

8,952

183145768.LC.FTS.B,

19.49%,

11/26/26

..

18,603

18,182

183505272.LC.FTS.B,

21.49%,

11/26/26

..

5,702

5,577

183520272.LC.FTS.B,

21.49%,

11/26/26

..

20,026

19,576

183567257.LC.FTS.B,

21.49%,

11/26/26

..

19,226

487

183525639.LC.FTS.B,

21.99%,

11/26/26

..

5,524

5,403

183478931.LC.FTS.B,

22.49%,

11/26/26

..

6,314

6,174

183514721.LC.FTS.B,

22.49%,

11/26/26

..

6,447

6,304

183556398.LC.FTS.B,

23.99%,

11/26/26

..

9,182

8,975

183390362.LC.FTS.B,

24.99%,

11/26/26

..

11,120

10,871

183541185.LC.FTS.B,

14.99%,

11/29/26

..

36,717

35,099

183578940.LC.FTS.B,

15.19%,

11/29/26

..

11,938

11,640

183560621.LC.FTS.B,

16.99%,

11/29/26

..

13,276

12,766

183571826.LC.FTS.B,

17.44%,

11/29/26

..

16,035

15,544

183346627.LC.FTS.B,

17.74%,

11/29/26

..

13,297

13,136

183588509.LC.FTS.B,

19.49%,

11/29/26

..

13,901

13,647

183447683.LC.FTS.B,

20.44%,

11/29/26

..

18,105

17,774

183369356.LC.FTS.B,

20.99%,

11/29/26

..

4,660

4,553

183532974.LC.FTS.B,

21.99%,

11/29/26

..

14,082

13,611

183529769.LC.FTS.B,

23.99%,

11/29/26

..

29,913

29,289

183336844.LC.FTS.B,

14.74%,

11/30/26

..

29,356

28,458

183524280.LC.FTS.B,

16.99%,

11/30/26

..

27,657

27,153

183649644.LC.FTS.B,

16.99%,

11/30/26

..

10,141

9,956

183629352.LC.FTS.B,

17.74%,

11/30/26

..

27,786

27,322

183636681.LC.FTS.B,

18.49%,

11/30/26

..

31,073

30,270

Description

Principal

Amount

Value

LendingClub

Corp.

-

LCX

PM

(continued)

183180958.LC.FTS.B,

18.99%,

11/30/26

..

$

11,109

$

10,821

183630947.LC.FTS.B,

18.99%,

11/30/26

..

22,218

21,642

183531699.LC.FTS.B,

19.99%,

11/30/26

..

13,914

13,552

183585512.LC.FTS.B,

19.99%,

11/30/26

..

22,264

21,354

183610499.LC.FTS.B,

19.99%,

11/30/26

..

22,489

21,925

183649794.LC.FTS.B,

21.49%,

11/30/26

..

24,282

23,547

183170401.LC.FTS.B,

21.99%,

11/30/26

..

11,175

10,836

183265121.LC.FTS.B,

21.99%,

11/30/26

..

30,103

29,189

183544070.LC.FTS.B,

21.99%,

11/30/26

..

18,625

18,059

183623738.LC.FTS.B,

21.99%,

11/30/26

..

5,482

5,314

183618524.LC.FTS.B,

22.99%,

11/30/26

..

23,326

22,614

183540100.LC.FTS.B,

23.99%,

11/30/26

..

5,608

5,437

183626362.LC.FTS.B,

23.99%,

11/30/26

..

7,509

7,297

183591995.LC.FTS.B,

24.99%,

11/30/26

..

5,886

5,669

183611465.LC.FTS.B,

24.99%,

11/30/26

..

11,237

10,891

183633965.LC.FTS.B,

24.99%,

11/30/26

..

5,619

5,446

183472728.LC.FTS.B,

16.49%,

12/01/26

..

5,526

5,427

183603668.LC.FTS.B,

17.19%,

12/01/26

..

16,708

16,252

183607115.LC.FTS.B,

17.24%,

12/01/26

..

21,215

20,656

183638388.LC.FTS.B,

17.24%,

12/01/26

..

25,828

25,363

183676944.LC.FTS.B,

17.24%,

12/01/26

..

5,534

5,435

183667452.LC.FTS.B,

20.49%,

12/01/26

..

13,929

13,570

183686236.LC.FTS.B,

20.49%,

12/01/26

..

18,572

18,093

183652852.LC.FTS.B,

20.99%,

12/01/26

..

9,608

904

183678049.LC.FTS.B,

21.49%,

12/01/26

..

11,273

11,012

183661163.LC.FTS.B,

23.19%,

12/01/26

..

28,002

27,159

183562403.LC.FTS.B,

23.99%,

12/01/26

..

11,201

10,862

183653450.LC.FTS.B,

23.99%,

12/01/26

..

16,102

15,741

183669687.LC.FTS.B,

23.99%,

12/01/26

..

27,655

21,588

183593989.LC.FTS.B,

27.49%,

12/01/26

..

23,515

22,792

183067587.LC.FTS.B,

6%,

12/02/26

.....

26,223

26,164

183768813.LC.FTS.B,

13.24%,

12/02/26

..

13,715

13,421

183768005.LC.FTS.B,

13.74%,

12/02/26

..

32,037

31,350

183695657.LC.FTS.B,

15.44%,

12/02/26

..

13,783

13,545

183712326.LC.FTS.B,

15.44%,

12/02/26

..

5,919

5,817

183687642.LC.FTS.B,

15.99%,

12/02/26

..

21,566

16,829

183621316.LC.FTS.B,

16.99%,

12/02/26

..

15,829

1,500

183699303.LC.FTS.B,

17.24%,

12/02/26

..

14,759

14,315

183707036.LC.FTS.B,

18.19%,

12/02/26

..

14,365

–

183683504.LC.FTS.B,

19.49%,

12/02/26

..

10,194

9,939

183702434.LC.FTS.B,

20.49%,

12/02/26

..

27,370

26,683

183687593.LC.FTS.B,

20.99%,

12/02/26

..

23,237

22,653

183755210.LC.FTS.B,

21.99%,

12/02/26

..

10,838

243

183630072.LC.FTS.B,

22.49%,

12/02/26

..

11,186

10,860

183695174.LC.FTS.B,

23.99%,

12/02/26

..

17,584

17,120

183623497.LC.FTS.B,

13.24%,

12/03/26

..

26,515

25,951

183656375.LC.FTS.B,

14.44%,

12/03/26

..

6,510

6,135

183673632.LC.FTS.B,

15.44%,

12/03/26

..

13,887

13,352

183682790.LC.FTS.B,

16.44%,

12/03/26

..

27,625

27,152

183483610.LC.FTS.B,

17.24%,

12/03/26

..

17,980

17,593

183721314.LC.FTS.B,

17.44%,

12/03/26

..

14,765

14,510

183651950.LC.FTS.B,

18.49%,

12/03/26

..

20,346

19,846

183746554.LC.FTS.B,

18.49%,

12/03/26

..

5,173

5,046

183759828.LC.FTS.B,

18.49%,

12/03/26

..

16,026

12,501

183211187.LC.FTS.B,

18.99%,

12/03/26

..

18,911

18,543

183662088.LC.FTS.B,

19.49%,

12/03/26

..

8,340

8,134

183747630.LC.FTS.B,

20.99%,

12/03/26

..

21,468

20,994

183771895.LC.FTS.B,

21.99%,

12/03/26

..

16,763

16,281

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

250

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

LendingClub

Corp.

-

LCX

PM

(continued)

183789584.LC.FTS.B,

21.99%,

12/03/26

..

$

17,229

$

16,733

183868821.LC.FTS.B,

13.49%,

12/06/26

..

27,438

26,860

183700079.LC.FTS.B,

15.44%,

12/06/26

..

13,845

13,242

183704686.LC.FTS.B,

15.44%,

12/06/26

..

12,233

9,258

183835763.LC.FTS.B,

15.99%,

12/06/26

..

5,546

5,425

183877324.LC.FTS.B,

16.49%,

12/06/26

..

36,837

35,905

183766454.LC.FTS.B,

16.99%,

12/06/26

..

20,350

19,780

183552770.LC.FTS.B,

17.24%,

12/06/26

..

23,060

22,670

183793588.LC.FTS.B,

17.24%,

12/06/26

..

6,471

6,378

183788093.LC.FTS.B,

17.49%,

12/06/26

..

7,413

7,278

183798352.LC.FTS.B,

17.74%,

12/06/26

..

27,702

27,231

183799901.LC.FTS.B,

17.74%,

12/06/26

..

9,234

9,077

183790054.LC.FTS.B,

18.49%,

12/06/26

..

5,826

5,685

183710879.LC.FTS.B,

19.95%,

12/06/26

..

22,262

21,719

183767102.LC.FTS.B,

19.99%,

12/06/26

..

20,565

20,185

183788883.LC.FTS.B,

21.99%,

12/06/26

..

22,351

21,718

183402569.LC.FTS.B,

23.99%,

12/06/26

..

7,946

7,719

183684135.LC.FTS.B,

23.99%,

12/06/26

..

13,017

12,645

183788160.LC.FTS.B,

23.99%,

12/06/26

..

9,348

9,081

183759744.LC.FTS.B,

24.99%,

12/06/26

..

9,365

9,096

183750856.LC.FTS.B,

27.99%,

12/06/26

..

15,567

15,174

183900196.LC.FTS.B,

13.19%,

12/07/26

..

10,056

9,931

183902006.LC.FTS.B,

15%,

12/07/26

....

31,047

30,838

183809680.LC.FTS.B,

17.24%,

12/07/26

..

30,993

29,289

183882896.LC.FTS.B,

17.24%,

12/07/26

..

16,605

16,213

183902344.LC.FTS.B,

17.49%,

12/07/26

..

18,081

17,775

183852446.LC.FTS.B,

17.99%,

12/07/26

..

14,878

14,362

183888494.LC.FTS.B,

17.99%,

12/07/26

..

8,482

8,380

183312099.LC.FTS.B,

18.99%,

12/07/26

..

10,369

10,076

183844253.LC.FTS.B,

18.99%,

12/07/26

..

26,848

25,976

183415342.LC.FTS.B,

19.49%,

12/07/26

..

27,802

26,191

183762991.LC.FTS.B,

19.49%,

12/07/26

..

20,596

19,752

183862022.LC.FTS.B,

19.99%,

12/07/26

..

6,591

4,225

183495228.LC.FTS.B,

20.44%,

12/07/26

..

5,569

5,411

183877158.LC.FTS.B,

20.44%,

12/07/26

..

14,058

13,798

183309840.LC.FTS.B,

20.99%,

12/07/26

..

16,804

1,568

183882038.LC.FTS.B,

20.99%,

12/07/26

..

26,769

26,120

183804040.LC.FTS.B,

21.49%,

12/07/26

..

28,224

26,632

183719486.LC.FTS.B,

21.99%,

12/07/26

..

18,626

17,474

183794746.LC.FTS.B,

21.99%,

12/07/26

..

26,076

24,795

183885314.LC.FTS.B,

21.99%,

12/07/26

..

5,588

5,431

183395168.LC.FTS.B,

23.99%,

12/07/26

..

23,370

22,413

183867910.LC.FTS.B,

23.99%,

12/07/26

..

14,022

13,626

183894941.LC.FTS.B,

23.99%,

12/07/26

..

19,118

15,026

183610309.LC.FTS.B,

24.99%,

12/07/26

..

17,981

16,859

183866022.LC.FTS.B,

24.99%,

12/07/26

..

9,208

8,970

183883305.LC.FTS.B,

24.99%,

12/07/26

..

19,594

1,831

183866613.LC.FTS.B,

25.99%,

12/07/26

..

9,382

9,034

183874898.LC.FTS.B,

27.49%,

12/07/26

..

23,409

22,734

183860801.LC.FTS.B,

28.99%,

12/07/26

..

9,430

9,077

183885718.LC.FTS.B,

28.99%,

12/07/26

..

7,074

6,881

183909323.LC.FTS.B,

28.99%,

12/07/26

..

13,042

12,656

183046392.LC.FTS.B,

13.19%,

12/08/26

..

22,855

22,575

183916918.LC.FTS.B,

13.19%,

12/08/26

..

21,090

20,889

183921890.LC.FTS.B,

15.44%,

12/08/26

..

9,716

9,604

183492757.LC.FTS.B,

16.99%,

12/08/26

..

13,776

13,548

183909483.LC.FTS.B,

16.99%,

12/08/26

..

5,520

5,378

183795795.LC.FTS.B,

17.49%,

12/08/26

..

5,537

5,446

Description

Principal

Amount

Value

LendingClub

Corp.

-

LCX

PM

(continued)

183991943.LC.FTS.B,

18.44%,

12/08/26

..

$

23,155

$

22,455

183949342.LC.FTS.B,

18.74%,

12/08/26

..

8,328

8,130

183536773.LC.FTS.B,

19.74%,

12/08/26

..

32,452

31,678

183940387.LC.FTS.B,

19.99%,

12/08/26

..

16,698

16,299

183946773.LC.FTS.B,

21.49%,

12/08/26

..

16,891

16,521

183911700.LC.FTS.B,

23.99%,

12/08/26

..

19,194

2,390

183933487.LC.FTS.B,

23.99%,

12/08/26

..

14,022

13,631

183938262.LC.FTS.B,

28.99%,

12/08/26

..

14,717

14,358

183999420.LC.FTS.B,

12.99%,

12/09/26

..

36,551

35,808

183274086.LC.FTS.B,

14.44%,

12/09/26

..

15,586

15,399

184040533.LC.FTS.B,

14.49%,

12/09/26

..

18,338

17,962

183461812.LC.FTS.B,

16.74%,

12/09/26

..

17,968

17,529

184027233.LC.FTS.B,

16.99%,

12/09/26

..

17,738

6,254

183566597.LC.FTS.B,

17.24%,

12/09/26

..

21,212

20,873

183576479.LC.FTS.B,

17.44%,

12/09/26

..

22,147

21,793

183996173.LC.FTS.B,

17.44%,

12/09/26

..

33,221

32,406

184003319.LC.FTS.B,

18.19%,

12/09/26

..

9,243

9,030

183546115.LC.FTS.B,

19.73%,

12/09/26

..

15,175

14,898

183975814.LC.FTS.B,

19.99%,

12/09/26

..

7,828

7,677

183974148.LC.FTS.B,

20.49%,

12/09/26

..

21,180

20,684

183726564.LC.FTS.B,

21.49%,

12/09/26

..

18,794

18,413

183840027.LC.FTS.B,

21.49%,

12/09/26

..

14,886

14,489

183801317.LC.FTS.B,

23.99%,

12/09/26

..

28,337

27,745

183987324.LC.FTS.B,

23.99%,

12/09/26

..

14,957

14,552

184007129.LC.FTS.B,

23.99%,

12/09/26

..

7,785

882

183966000.LC.FTS.B,

24.99%,

12/09/26

..

4,682

4,555

183970462.LC.FTS.B,

24.99%,

12/09/26

..

2,809

2,733

183971412.LC.FTS.B,

28.49%,

12/09/26

..

9,068

8,818

184009395.LC.FTS.B,

9.49%,

12/10/26

...

29,904

28,719

184012121.LC.FTS.B,

13.44%,

12/10/26

..

17,380

17,130

183870325.LC.FTS.B,

14.19%,

12/10/26

..

19,242

19,016

183874472.LC.FTS.B,

15.44%,

12/10/26

..

14,761

13,934

183680345.LC.FTS.B,

16.44%,

12/10/26

..

11,971

11,783

184031238.LC.FTS.B,

16.49%,

12/10/26

..

9,209

9,065

183129988.LC.FTS.B,

16.99%,

12/10/26

..

16,595

16,263

184018293.LC.FTS.B,

17.74%,

12/10/26

..

22,706

3,988

184030029.LC.FTS.B,

18.49%,

12/10/26

..

23,301

22,909

183912771.LC.FTS.B,

19.49%,

12/10/26

..

12,049

11,797

184036052.LC.FTS.B,

19.49%,

12/10/26

..

23,168

22,638

184036706.LC.FTS.B,

19.49%,

12/10/26

..

4,634

4,528

183974150.LC.FTS.B,

19.99%,

12/10/26

..

23,191

22,660

184005719.LC.FTS.B,

20.44%,

12/10/26

..

12,569

12,354

184022156.LC.FTS.B,

20.49%,

12/10/26

..

9,235

9,003

184017594.LC.FTS.B,

20.99%,

12/10/26

..

14,820

14,459

184011802.LC.FTS.B,

21.49%,

12/10/26

..

9,304

9,059

184020224.LC.FTS.B,

23.19%,

12/10/26

..

19,602

19,080

183611528.LC.FTS.B,

23.99%,

12/10/26

..

28,044

27,295

184003793.LC.FTS.B,

23.99%,

12/10/26

..

18,759

18,321

184017343.LC.FTS.B,

23.99%,

12/10/26

..

11,455

11,145

184017730.LC.FTS.B,

23.99%,

12/10/26

..

28,044

27,295

183942336.LC.FTS.B,

24.99%,

12/10/26

..

18,730

18,227

183970602.LC.FTS.B,

24.99%,

12/10/26

..

11,238

10,956

184013288.LC.FTS.B,

24.99%,

12/10/26

..

18,730

18,227

184033235.LC.FTS.B,

24.99%,

12/10/26

..

22,697

22,235

184033253.LC.FTS.B,

28.99%,

12/10/26

..

8,595

8,433

183205986.LC.FTS.B,

15.44%,

12/13/26

..

9,190

8,866

183943387.LC.FTS.B,

15.44%,

12/13/26

..

21,593

21,078

184056742.LC.FTS.B,

15.44%,

12/13/26

..

13,783

13,571

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

251

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

LendingClub

Corp.

-

LCX

PM

(continued)

183935167.LC.FTS.B,

16.19%,

12/13/26

..

$

18,712

$

17,885

183965552.LC.FTS.B,

16.49%,

12/13/26

..

13,815

13,625

183835670.LC.FTS.B,

16.99%,

12/13/26

..

28,764

28,073

183840398.LC.FTS.B,

16.99%,

12/13/26

..

32,150

31,115

183842914.LC.FTS.B,

17.44%,

12/13/26

..

20,302

19,987

184033080.LC.FTS.B,

17.44%,

12/13/26

..

20,221

19,618

183731402.LC.FTS.B,

19.44%,

12/13/26

..

14,826

14,492

184064152.LC.FTS.B,

19.49%,

12/13/26

..

18,704

18,323

183907505.LC.FTS.B,

19.99%,

12/13/26

..

15,736

1,486

183706984.LC.FTS.B,

21.49%,

12/13/26

..

8,839

8,610

184062734.LC.FTS.B,

21.49%,

12/13/26

..

4,444

4,318

184012465.LC.FTS.B,

21.99%,

12/13/26

..

9,710

1,257

184059193.LC.FTS.B,

21.99%,

12/13/26

..

20,219

19,775

184009581.LC.FTS.B,

22.99%,

12/13/26

..

32,918

32,247

183908611.LC.FTS.B,

23.99%,

12/13/26

..

14,957

14,564

184055849.LC.FTS.B,

23.99%,

12/13/26

..

37,392

36,411

184039087.LC.FTS.B,

24.99%,

12/13/26

..

8,897

8,662

184041474.LC.FTS.B,

27.49%,

12/13/26

..

23,093

22,486

184051343.LC.FTS.B,

28.99%,

12/13/26

..

16,973

16,517

184176824.LC.FTS.B,

14.99%,

12/14/26

..

12,851

12,594

183228318.LC.FTS.B,

15.19%,

12/14/26

..

32,142

30,140

184127951.LC.FTS.B,

15.44%,

12/14/26

..

19,296

19,004

183977917.LC.FTS.B,

16.49%,

12/14/26

..

23,089

21,795

184144008.LC.FTS.B,

16.99%,

12/14/26

..

16,970

16,679

184142978.LC.FTS.B,

17.44%,

12/14/26

..

13,842

13,630

183805030.LC.FTS.B,

17.49%,

12/14/26

..

25,871

24,855

184014809.LC.FTS.B,

17.74%,

12/14/26

..

29,578

28,930

184109137.LC.FTS.B,

17.74%,

12/14/26

..

13,851

13,401

183892275.LC.FTS.B,

18.44%,

12/14/26

..

24,968

24,415

183627901.LC.FTS.B,

18.49%,

12/14/26

..

15,722

15,106

184108646.LC.FTS.B,

18.49%,

12/14/26

..

7,852

7,580

184124998.LC.FTS.B,

18.74%,

12/14/26

..

4,683

3,650

183775899.LC.FTS.B,

18.99%,

12/14/26

..

17,987

17,410

184016257.LC.FTS.B,

18.99%,

12/14/26

..

9,450

9,233

184114198.LC.FTS.B,

18.99%,

12/14/26

..

22,682

22,178

184149526.LC.FTS.B,

19.74%,

12/14/26

..

31,895

31,185

183841644.LC.FTS.B,

19.99%,

12/14/26

..

12,059

11,481

184107799.LC.FTS.B,

19.99%,

12/14/26

..

12,987

12,698

184073751.LC.FTS.B,

20.49%,

12/14/26

..

18,618

17,773

183969661.LC.FTS.B,

21.49%,

12/14/26

..

11,165

10,640

184087392.LC.FTS.B,

21.49%,

12/14/26

..

18,727

18,007

184029176.LC.FTS.B,

21.99%,

12/14/26

..

8,254

8,087

184130928.LC.FTS.B,

21.99%,

12/14/26

..

13,969

13,611

184142290.LC.FTS.B,

21.99%,

12/14/26

..

10,058

9,800

183623138.LC.FTS.B,

23.99%,

12/14/26

..

11,218

10,927

184068437.LC.FTS.B,

23.99%,

12/14/26

..

16,929

16,521

184107590.LC.FTS.B,

23.99%,

12/14/26

..

6,544

6,290

183641094.LC.FTS.B,

24.99%,

12/14/26

..

9,365

9,121

184130849.LC.FTS.B,

28.99%,

12/14/26

..

6,263

6,141

184198353.LC.FTS.B,

14.01%,

12/15/26

..

36,531

35,809

184146721.LC.FTS.B,

16.44%,

12/15/26

..

13,813

13,368

183618465.LC.FTS.B,

16.49%,

12/15/26

..

27,628

26,502

184090113.LC.FTS.B,

16.49%,

12/15/26

..

19,340

19,050

184204044.LC.FTS.B,

16.49%,

12/15/26

..

13,814

13,488

184199477.LC.FTS.B,

16.99%,

12/15/26

..

3,688

3,632

184084669.LC.FTS.B,

17.3%,

12/15/26

...

11,480

1,377

184167502.LC.FTS.B,

17.44%,

12/15/26

..

23,693

22,928

184139449.LC.FTS.B,

18.99%,

12/15/26

..

6,666

6,519

Description

Principal

Amount

Value

LendingClub

Corp.

-

LCX

PM

(continued)

184179384.LC.FTS.B,

18.99%,

12/15/26

..

$

20,434

$

20,027

184170508.LC.FTS.B,

19.74%,

12/15/26

..

27,161

26,563

184016592.LC.FTS.B,

20.24%,

12/15/26

..

33,147

32,589

183885405.LC.FTS.B,

20.99%,

12/15/26

..

2,734

2,712

183917868.LC.FTS.B,

21.49%,

12/15/26

..

17,375

16,936

184056585.LC.FTS.B,

21.99%,

12/15/26

..

23,282

22,693

183758691.LC.FTS.B,

23.99%,

12/15/26

..

5,609

5,465

184195032.LC.FTS.B,

23.99%,

12/15/26

..

8,507

8,289

184149742.LC.FTS.B,

26.49%,

12/15/26

..

20,118

19,597

184184924.LC.FTS.B,

13.19%,

12/16/26

..

12,799

12,331

183905553.LC.FTS.B,

13.44%,

12/16/26

..

5,946

5,651

184144886.LC.FTS.B,

15.19%,

12/16/26

..

25,713

25,345

184117686.LC.FTS.B,

15.49%,

12/16/26

..

30,771

29,135

184172800.LC.FTS.B,

16.44%,

12/16/26

..

12,048

11,603

184020332.LC.FTS.B,

16.49%,

12/16/26

..

9,209

8,997

184195348.LC.FTS.B,

16.49%,

12/16/26

..

10,336

10,090

184230527.LC.FTS.B,

16.49%,

12/16/26

..

27,628

27,229

184208446.LC.FTS.B,

16.99%,

12/16/26

..

23,048

22,553

184029644.LC.FTS.B,

17.49%,

12/16/26

..

27,873

27,586

184075164.LC.FTS.B,

17.74%,

12/16/26

..

29,381

29,140

184233755.LC.FTS.B,

18.49%,

12/16/26

..

11,102

10,889

183840993.LC.FTS.B,

21.49%,

12/16/26

..

22,330

21,785

183590285.LC.FTS.B,

21.99%,

12/16/26

..

18,748

18,323

184215682.LC.FTS.B,

21.99%,

12/16/26

..

851

846

184210891.LC.FTS.B,

23.19%,

12/16/26

..

7,467

7,284

183543583.LC.FTS.B,

23.99%,

12/16/26

..

14,458

1,762

184114543.LC.FTS.B,

23.99%,

12/16/26

..

9,447

7,385

184185617.LC.FTS.B,

26.99%,

12/16/26

..

9,022

8,796

184163017.LC.FTS.B,

13.19%,

12/17/26

..

14,170

13,470

184248952.LC.FTS.B,

13.19%,

12/17/26

..

12,974

12,822

183612692.LC.FTS.B,

13.49%,

12/17/26

..

12,808

12,562

184251419.LC.FTS.B,

14.44%,

12/17/26

..

7,334

7,225

184249796.LC.FTS.B,

15.44%,

12/17/26

..

14,783

14,633

184223937.LC.FTS.B,

16.44%,

12/17/26

..

17,496

17,247

183436430.LC.FTS.B,

16.99%,

12/17/26

..

32,367

32,001

183936400.LC.FTS.B,

16.99%,

12/17/26

..

16,595

16,071

184149066.LC.FTS.B,

17.24%,

12/17/26

..

22,138

21,821

184239360.LC.FTS.B,

17.44%,

12/17/26

..

19,390

19,149

184141163.LC.FTS.B,

17.49%,

12/17/26

..

2,769

2,705

184248806.LC.FTS.B,

18.49%,

12/17/26

..

25,895

25,353

184247617.LC.FTS.B,

18.99%,

12/17/26

..

11,109

10,876

184179555.LC.FTS.B,

21.49%,

12/17/26

..

24,593

23,981

184211532.LC.FTS.B,

21.99%,

12/17/26

..

32,858

32,243

184237123.LC.FTS.B,

21.99%,

12/17/26

..

13,969

13,633

184251864.LC.FTS.B,

21.99%,

12/17/26

..

8,475

8,270

183868559.LC.FTS.B,

23.99%,

12/17/26

..

7,478

7,296

184214073.LC.FTS.B,

27.99%,

12/17/26

..

11,297

11,016

184069276.LC.FTS.B,

11.49%,

12/20/26

..

26,475

26,123

184150686.LC.FTS.B,

13.44%,

12/20/26

..

9,147

8,974

184277120.LC.FTS.B,

13.44%,

12/20/26

..

9,158

9,083

184154990.LC.FTS.B,

14.44%,

12/20/26

..

6,876

6,805

183930981.LC.FTS.B,

15.44%,

12/20/26

..

11,945

11,521

184082880.LC.FTS.B,

15.44%,

12/20/26

..

8,269

7,940

184158631.LC.FTS.B,

15.44%,

12/20/26

..

19,247

18,217

184224030.LC.FTS.B,

15.49%,

12/20/26

..

18,406

18,032

183456635.LC.FTS.B,

16.44%,

12/20/26

..

18,417

17,841

184254098.LC.FTS.B,

16.99%,

12/20/26

..

10,300

10,022

184270452.LC.FTS.B,

16.99%,

12/20/26

..

11,063

10,908

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

252

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

LendingClub

Corp.

-

LCX

PM

(continued)

184280067.LC.FTS.B,

16.99%,

12/20/26

..

$

14,751

$

14,544

184104646.LC.FTS.B,

17.44%,

12/20/26

..

17,533

17,287

184286578.LC.FTS.B,

17.49%,

12/20/26

..

20,683

20,211

184283202.LC.FTS.B,

19.49%,

12/20/26

..

7,414

7,261

184273228.LC.FTS.B,

21.99%,

12/20/26

..

14,225

13,948

184102080.LC.FTS.B,

23.99%,

12/20/26

..

8,413

8,212

184274221.LC.FTS.B,

23.99%,

12/20/26

..

27,941

27,224

184276958.LC.FTS.B,

23.99%,

12/20/26

..

14,022

13,687

184283247.LC.FTS.B,

12.74%,

12/21/26

..

19,180

18,850

184382909.LC.FTS.B,

12.99%,

12/21/26

..

18,276

17,933

184262437.LC.FTS.B,

14.19%,

12/21/26

..

20,158

18,900

184358802.LC.FTS.B,

15.49%,

12/21/26

..

8,730

8,535

184130767.LC.FTS.B,

16.44%,

12/21/26

..

19,338

18,485

184309308.LC.FTS.B,

17.24%,

12/21/26

..

13,787

13,402

184365323.LC.FTS.B,

18.74%,

12/21/26

..

18,506

18,130

184325410.LC.FTS.B,

18.99%,

12/21/26

..

4,444

4,315

184283229.LC.FTS.B,

19.44%,

12/21/26

..

14,152

13,424

183919301.LC.FTS.B,

19.99%,

12/21/26

..

12,201

9,530

184032290.LC.FTS.B,

20.99%,

12/21/26

..

18,957

17,910

184061839.LC.FTS.B,

21.49%,

12/21/26

..

13,956

13,269

184358622.LC.FTS.B,

21.99%,

12/21/26

..

11,641

11,370

184356206.LC.FTS.B,

22.99%,

12/21/26

..

9,436

7,389

184040777.LC.FTS.B,

23.99%,

12/21/26

..

9,348

9,128

184377785.LC.FTS.B,

23.99%,

12/21/26

..

9,348

9,128

184299891.LC.FTS.B,

24.49%,

12/21/26

..

852

847

184343324.LC.FTS.B,

24.49%,

12/21/26

..

18,713

18,109

184352640.LC.FTS.B,

26.99%,

12/21/26

..

23,495

22,831

184312525.LC.FTS.B,

28.99%,

12/21/26

..

24,418

(181)

184066327.LC.FTS.B,

14.19%,

12/22/26

..

12,828

12,704

184190300.LC.FTS.B,

16.49%,

12/22/26

..

10,314

9,865

183529593.LC.FTS.B,

17.49%,

12/22/26

..

16,428

16,069

184298012.LC.FTS.B,

18.74%,

12/22/26

..

5,475

5,346

184397264.LC.FTS.B,

23.99%,

12/22/26

..

14,081

13,791

184471382.LC.FTS.B,

13.49%,

12/23/26

..

3,659

3,593

184367892.LC.FTS.B,

15.44%,

12/23/26

..

15,620

15,147

183877346.LC.FTS.B,

15.99%,

12/23/26

..

32,198

31,781

184421299.LC.FTS.B,

16.74%,

12/23/26

..

6,911

6,821

184427346.LC.FTS.B,

19.74%,

12/23/26

..

25,961

25,456

184035152.LC.FTS.B,

21.49%,

12/23/26

..

6,921

878

184409698.LC.FTS.B,

21.99%,

12/23/26

..

18,626

18,214

184321733.LC.FTS.B,

23.99%,

12/23/26

..

23,370

22,848

184451850.LC.FTS.B,

23.99%,

12/23/26

..

18,696

18,278

184379539.LC.FTS.B,

12.19%,

12/27/26

..

27,804

26,693

184404343.LC.FTS.B,

13.24%,

12/27/26

..

36,572

35,919

184444265.LC.FTS.B,

15.19%,

12/27/26

..

25,713

25,395

184437881.LC.FTS.B,

16.99%,

12/27/26

..

18,438

18,207

184378888.LC.FTS.B,

19.49%,

12/27/26

..

20,388

20,004

184283871.LC.FTS.B,

21.99%,

12/27/26

..

18,626

18,228

184469259.LC.FTS.B,

22.49%,

12/27/26

..

20,974

20,525

184445530.LC.FTS.B,

22.99%,

12/27/26

..

19,003

18,515

184275242.LC.FTS.B,

23.99%,

12/27/26

..

18,696

18,293

184454459.LC.FTS.B,

24.99%,

12/27/26

..

7,024

6,871

184473440.LC.FTS.B,

28.99%,

12/27/26

..

18,767

18,384

184927724.LC.FTS.B,

22.49%,

1/11/27

...

21,676

21,039

184934200.LC.FTS.B,

23.49%,

1/11/27

...

28,318

27,359

184505766.LC.FTS.B,

23.99%,

1/11/27

...

25,979

24,418

184924956.LC.FTS.B,

24.99%,

1/11/27

...

18,363

17,813

Description

Principal

Amount

Value

LendingClub

Corp.

-

LCX

PM

(continued)

$

18,462,826

Prosper

Funding

LLC

1613529.PS.FTS.B,

14.89%,

8/11/24

....

$

6,289

6,033

1613502.PS.FTS.B,

15.1%,

8/11/24

.....

3,718

3,565

1606783.PS.FTS.B,

17%,

8/11/24

.......

2,601

2,516

1613478.PS.FTS.B,

17.9%,

8/11/24

.....

8,235

7,942

1603442.PS.FTS.B,

18.2%,

8/11/24

.....

6,426

1,586

1613526.PS.FTS.B,

19.1%,

8/11/24

.....

7,521

7,253

1604114.PS.FTS.B,

12.5%,

8/12/24

.....

14,657

14,156

1607545.PS.FTS.B,

12.7%,

8/12/24

.....

11,002

10,626

1607185.PS.FTS.B,

17.1%,

8/12/24

.....

4,478

4,321

1603763.PS.FTS.B,

19.8%,

8/12/24

.....

11,310

10,913

1613868.PS.FTS.B,

19.8%,

8/12/24

.....

7,540

7,275

1607575.PS.FTS.B,

20%,

8/12/24

.......

3,773

3,640

1603826.PS.FTS.B,

20.9%,

8/12/24

.....

1,514

1,461

1603754.PS.FTS.B,

21.49%,

8/12/24

....

7,588

7,320

1614891.PS.FTS.B,

16.7%,

8/13/24

.....

3,726

3,577

1604669.PS.FTS.B,

19.8%,

8/13/24

.....

1,508

1,456

1614984.PS.FTS.B,

19.8%,

8/13/24

.....

1,508

1,456

1615005.PS.FTS.B,

20.1%,

8/13/24

.....

6,039

5,830

1615146.PS.FTS.B,

20.8%,

8/13/24

.....

1,513

1,460

1615137.PS.FTS.B,

20.9%,

8/13/24

.....

6,814

6,578

1608406.PS.FTS.B,

18.11%,

8/15/24

....

15,005

14,395

1605407.PS.FTS.B,

18%,

8/16/24

.......

4,493

4,346

1605017.PS.FTS.B,

19%,

8/16/24

.......

10,640

2,663

1605440.PS.FTS.B,

19.8%,

8/16/24

.....

3,770

3,646

1609840.PS.FTS.B,

15.9%,

8/17/24

.....

5,571

5,357

1616559.PS.FTS.B,

17%,

8/17/24

.......

3,617

3,499

1606436.PS.FTS.B,

28.64%,

8/17/24

....

3,891

4,000

1614285.PS.FTS.B,

18.2%,

8/18/24

.....

4,516

4,347

1608077.PS.FTS.B,

12.8%,

8/19/24

.....

1,570

1,558

1611376.PS.FTS.B,

12.8%,

8/19/24

.....

14,675

14,199

1611391.PS.FTS.B,

14.2%,

8/19/24

.....

10,702

8,775

1618596.PS.FTS.B,

14.7%,

8/20/24

.....

5,175

4,982

1608503.PS.FTS.B,

20%,

8/20/24

.......

6,037

5,850

1608574.PS.FTS.B,

20.1%,

8/21/24

.....

1,516

1,462

1610068.PS.FTS.B,

20%,

8/22/24

.......

3,784

3,651

1618998.PS.FTS.B,

12.79%,

8/23/24

....

25,680

24,837

1619004.PS.FTS.B,

14.7%,

8/23/24

.....

9,611

9,264

1609553.PS.FTS.B,

14.89%,

8/24/24

....

3,805

3,713

1610348.PS.FTS.B,

16%,

8/24/24

.......

1,486

1,433

1610783.PS.FTS.B,

15.5%,

8/25/24

.....

3,337

3,219

1620645.PS.FTS.B,

16.6%,

8/25/24

.....

4,469

4,311

1610723.PS.FTS.B,

16.9%,

8/25/24

.....

4,474

4,316

1614574.PS.FTS.B,

27.56%,

8/26/24

....

7,754

7,591

1615534.PS.FTS.B,

15.9%,

8/27/24

.....

1,305

1,262

1611857.PS.FTS.B,

16.4%,

8/27/24

.....

4,616

4,455

1616371.PS.FTS.B,

15.8%,

8/30/24

.....

14,340

14,340

1606394.PS.FTS.B,

20.9%,

9/15/24

.....

6,278

6,047

1633506.PS.FTS.B,

12.2%,

9/20/24

.....

9,088

8,798

1612025.PS.FTS.B,

15.6%,

9/20/24

.....

2,609

2,517

1623956.PS.FTS.B,

12.3%,

9/21/24

.....

4,773

4,622

1634463.PS.FTS.B,

13.05%,

9/21/24

....

1,519

1,471

1623944.PS.FTS.B,

13.36%,

9/21/24

....

12,929

12,520

1634445.PS.FTS.B,

13.9%,

9/21/24

.....

26,671

25,826

1627612.PS.FTS.B,

15.1%,

9/21/24

.....

3,826

3,682

1627369.PS.FTS.B,

15.4%,

9/21/24

.....

19,153

18,431

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

253

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Prosper

Funding

LLC

(continued)

1634439.PS.FTS.B,

16.57%,

9/21/24

....

$

3,846

$

3,701

1634433.PS.FTS.B,

17.05%,

9/21/24

....

8,814

8,482

1623947.PS.FTS.B,

17.8%,

9/21/24

.....

8,206

2,061

1627600.PS.FTS.B,

18.41%,

9/21/24

....

6,152

5,920

1635159.PS.FTS.B,

11.89%,

9/22/24

....

13,777

11,296

1635285.PS.FTS.B,

13.36%,

9/22/24

....

17,705

17,166

1624496.PS.FTS.B,

13.7%,

9/22/24

.....

3,807

3,688

1628425.PS.FTS.B,

15.86%,

9/22/24

....

9,208

8,865

1635147.PS.FTS.B,

16%,

9/22/24

.......

7,677

7,391

1624508.PS.FTS.B,

18.41%,

9/22/24

....

3,871

3,726

1624730.PS.FTS.B,

18.41%,

9/22/24

....

4,645

4,471

1635003.PS.FTS.B,

20.01%,

9/22/24

....

4,670

4,521

1625036.PS.FTS.B,

23.54%,

9/22/24

....

7,875

7,666

1628974.PS.FTS.B,

11.6%,

9/23/24

.....

9,068

8,786

1628788.PS.FTS.B,

18.5%,

9/23/24

.....

1,539

1,490

1626473.PS.FTS.B,

13%,

9/24/24

.......

7,595

7,361

1625759.PS.FTS.B,

13.8%,

9/24/24

.....

18,933

18,349

1625753.PS.FTS.B,

14.7%,

9/24/24

.....

3,811

3,672

1625561.PS.FTS.B,

16%,

9/24/24

.......

3,071

2,959

1636923.PS.FTS.B,

18.04%,

9/24/24

....

10,843

10,445

1636929.PS.FTS.B,

18.41%,

9/24/24

....

7,742

7,458

1636593.PS.FTS.B,

18.5%,

9/24/24

.....

1,582

1,531

1626248.PS.FTS.B,

19.6%,

9/24/24

.....

8,568

8,286

1634235.PS.FTS.B,

14.89%,

9/25/24

....

3,831

3,687

1630810.PS.FTS.B,

14.79%,

9/27/24

....

19,735

19,037

1637601.PS.FTS.B,

15.4%,

9/27/24

.....

19,133

18,456

1627211.PS.FTS.B,

18.41%,

9/27/24

....

8,943

8,625

1630558.PS.FTS.B,

19.56%,

9/27/24

....

4,808

4,667

1628129.PS.FTS.B,

13.05%,

9/28/24

....

4,710

4,624

1630930.PS.FTS.B,

13.2%,

9/28/24

.....

3,141

3,085

1631206.PS.FTS.B,

13.66%,

9/28/24

....

4,719

4,636

1631650.PS.FTS.B,

14.39%,

9/28/24

....

7,884

7,710

1638459.PS.FTS.B,

15.4%,

9/28/24

.....

3,955

3,871

1638273.PS.FTS.B,

16.43%,

9/28/24

....

5,158

5,052

1627844.PS.FTS.B,

16.61%,

9/28/24

....

3,970

3,889

1631506.PS.FTS.B,

16.8%,

9/28/24

.....

3,575

3,503

1627901.PS.FTS.B,

17.37%,

9/28/24

....

5,920

867

1630852.PS.FTS.B,

18.11%,

9/28/24

....

9,461

9,280

1637628.PS.FTS.B,

24.5%,

9/28/24

.....

8,131

8,115

1632436.PS.FTS.B,

15%,

9/29/24

.......

5,530

5,272

1629230.PS.FTS.B,

14.49%,

9/30/24

....

27,602

26,905

1639314.PS.FTS.B,

14.56%,

9/30/24

....

7,888

7,599

1630058.PS.FTS.B,

19.3%,

10/01/24

....

3,627

3,461

1624058.PS.FTS.B,

12.9%,

10/04/24

....

7,893

7,658

1640814.PS.FTS.B,

13.87%,

10/04/24

...

10,626

10,156

1632605.PS.FTS.B,

13.5%,

10/06/24

....

6,289

6,071

1645020.PS.FTS.B,

11.86%,

10/08/24

....

11,729

11,329

1634696.PS.FTS.B,

13.66%,

10/08/24

...

5,506

5,318

1638691.PS.FTS.B,

11.6%,

10/12/24

....

19,532

18,884

1639798.PS.FTS.B,

14.56%,

10/13/24

...

9,151

8,849

1645047.PS.FTS.B,

13.05%,

10/14/24

...

6,799

6,571

1655031.PS.FTS.B,

26.51%,

10/26/24

...

4,089

3,979

1645625.PS.FTS.B,

13.7%,

10/27/24

....

8,116

7,877

1655424.PS.FTS.B,

16.43%,

10/27/24

...

6,870

6,626

1655751.PS.FTS.B,

17.96%,

10/27/24

...

4,107

3,960

1648630.PS.FTS.B,

22.6%,

10/27/24

....

3,743

3,645

1656453.PS.FTS.B,

12.1%,

10/28/24

....

20,195

19,825

1656195.PS.FTS.B,

12.3%,

10/28/24

....

11,720

11,507

Description

Principal

Amount

Value

Prosper

Funding

LLC

(continued)

1646078.PS.FTS.B,

12.43%,

10/28/24

...

$

9,715

$

9,554

1649509.PS.FTS.B,

13.59%,

10/28/24

...

16,628

9,337

1656237.PS.FTS.B,

13.68%,

10/28/24

...

2,840

2,775

1646105.PS.FTS.B,

15.19%,

10/28/24

...

3,776

3,739

1649647.PS.FTS.B,

15.29%,

10/28/24

...

8,968

8,774

1646081.PS.FTS.B,

16.43%,

10/28/24

...

10,633

10,413

1649827.PS.FTS.B,

17%,

10/28/24

......

4,069

4,006

1646261.PS.FTS.B,

18.26%,

10/28/24

...

22,689

22,252

1657158.PS.FTS.B,

10.8%,

10/29/24

....

6,438

6,209

1657215.PS.FTS.B,

14.6%,

10/29/24

....

1,881

1,796

1649938.PS.FTS.B,

15.4%,

10/29/24

....

4,893

4,667

1650670.PS.FTS.B,

16.3%,

10/29/24

....

1,635

1,559

1647092.PS.FTS.B,

16.9%,

10/29/24

....

28,664

27,336

1656627.PS.FTS.B,

17%,

10/29/24

......

13,926

13,273

1657275.PS.FTS.B,

18.37%,

10/29/24

...

11,512

10,970

1647182.PS.FTS.B,

19.5%,

10/29/24

....

5,362

5,109

1657020.PS.FTS.B,

19.58%,

10/29/24

...

17,328

16,511

1647332.PS.FTS.B,

22.6%,

10/29/24

....

1,663

1,586

1652014.PS.FTS.B,

13.36%,

11/02/24

....

5,511

5,320

1651813.PS.FTS.B,

17.93%,

11/02/24

....

14,775

14,111

1648529.PS.FTS.B,

19.5%,

11/02/24

....

1,589

1,518

1648733.PS.FTS.B,

21.2%,

11/02/24

....

28,981

27,675

1659915.PS.FTS.B,

14.49%,

11/03/24

....

12,195

11,655

1649219.PS.FTS.B,

17%,

11/03/24

......

3,592

870

1652476.PS.FTS.B,

17%,

11/03/24

......

4,912

4,695

1649987.PS.FTS.B,

18.41%,

11/04/24

....

8,219

7,856

1651427.PS.FTS.B,

10.5%,

11/05/24

....

2,411

2,330

1654330.PS.FTS.B,

11.4%,

11/05/24

.....

4,029

3,893

1654084.PS.FTS.B,

13.4%,

11/05/24

....

3,242

3,101

1660992.PS.FTS.B,

15.2%,

11/05/24

....

17,069

16,326

1651250.PS.FTS.B,

16.83%,

11/05/24

....

9,820

9,395

1652180.PS.FTS.B,

12.1%,

11/08/24

....

20,187

19,518

1664829.PS.FTS.B,

12.95%,

11/08/24

....

9,088

8,706

1658140.PS.FTS.B,

13.9%,

11/08/24

....

4,058

3,886

1664856.PS.FTS.B,

15.4%,

11/08/24

....

5,444

5,238

1664862.PS.FTS.B,

15.4%,

11/08/24

....

8,343

7,991

1652378.PS.FTS.B,

18.7%,

11/08/24

....

20,564

19,703

1652381.PS.FTS.B,

18.9%,

11/08/24

....

20,575

19,713

1652924.PS.FTS.B,

12.5%,

11/09/24

....

12,126

11,728

1665921.PS.FTS.B,

13.4%,

11/09/24

....

4,458

4,271

1666290.PS.FTS.B,

13.4%,

11/09/24

....

3,341

1,855

1665951.PS.FTS.B,

14.52%,

11/09/24

....

1,789

1,730

1652942.PS.FTS.B,

14.6%,

11/09/24

....

3,253

3,116

1665984.PS.FTS.B,

14.63%,

11/09/24

....

14,532

14,055

1659109.PS.FTS.B,

15.1%,

11/09/24

....

6,515

6,242

1665879.PS.FTS.B,

15.1%,

11/09/24

....

7,918

7,588

1652945.PS.FTS.B,

17.54%,

11/09/24

....

2,050

1,965

1659139.PS.FTS.B,

18.41%,

11/09/24

....

6,493

6,219

1666908.PS.FTS.B,

11.7%,

11/10/24

.....

8,065

7,802

1654091.PS.FTS.B,

15.9%,

11/10/24

....

6,159

5,910

1655651.PS.FTS.B,

12.87%,

11/15/24

....

2,428

2,352

1662703.PS.FTS.B,

16%,

11/15/24

......

8,202

7,875

1669260.PS.FTS.B,

18.7%,

11/15/24

....

1,737

433

1651004.PS.FTS.B,

16.6%,

11/19/24

....

9,814

9,386

1663073.PS.FTS.B,

18.41%,

11/29/24

....

4,227

4,035

1651826.PS.FTS.B,

11.7%,

12/02/24

....

12,592

12,222

1685592.PS.FTS.B,

11.55%,

12/14/24

....

4,655

264

1685280.PS.FTS.B,

12.3%,

12/14/24

....

14,992

14,542

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

254

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Prosper

Funding

LLC

(continued)

1672676.PS.FTS.B,

14%,

12/14/24

......

$

4,182

$

4,019

1672346.PS.FTS.B,

14.89%,

12/14/24

...

16,766

16,111

1672340.PS.FTS.B,

15.1%,

12/14/24

....

18,453

17,731

1678417.PS.FTS.B,

20.46%,

12/14/24

...

6,797

6,529

1685958.PS.FTS.B,

11.4%,

12/15/24

....

4,134

4,011

1672952.PS.FTS.B,

12%,

12/15/24

......

2,086

2,028

1672970.PS.FTS.B,

13.5%,

12/15/24

....

7,519

7,295

1685973.PS.FTS.B,

16%,

12/15/24

......

5,884

5,656

1673021.PS.FTS.B,

17.1%,

12/15/24

....

8,429

8,103

1686549.PS.FTS.B,

13%,

12/16/24

......

7,509

7,287

1687008.PS.FTS.B,

19%,

12/16/24

......

13,152

12,648

1674656.PS.FTS.B,

10.89%,

12/17/24

...

12,448

12,084

1680451.PS.FTS.B,

12.3%,

12/17/24

....

1,630

1,582

1687644.PS.FTS.B,

12.55%,

12/17/24

...

2,500

2,427

1674668.PS.FTS.B,

12.65%,

12/17/24

...

8,336

8,092

1674647.PS.FTS.B,

13.1%,

12/17/24

....

8,129

7,824

1680760.PS.FTS.B,

19.91%,

12/17/24

...

1,697

1,633

1685979.PS.FTS.B,

13.7%,

12/18/24

....

8,368

8,062

1681975.PS.FTS.B,

24.51%,

12/21/24

...

4,287

4,142

1676825.PS.FTS.B,

12.2%,

12/22/24

....

20,817

20,233

1691055.PS.FTS.B,

14.79%,

12/23/24

...

7,124

6,870

1684660.PS.FTS.B,

20.79%,

12/24/24

...

8,364

8,078

1692690.PS.FTS.B,

19.1%,

12/29/24

....

1,740

1,657

1687806.PS.FTS.B,

14.7%,

12/31/24

....

13,007

12,572

1688034.PS.FTS.B,

18.7%,

1/01/25

.....

12,251

11,819

1613484.PS.FTS.B,

16.93%,

8/11/26

....

22,794

21,726

1613481.PS.FTS.B,

19.78%,

8/11/26

....

13,223

12,592

1606978.PS.FTS.B,

13.3%,

8/12/26

.....

11,752

11,343

1604105.PS.FTS.B,

13.74%,

8/12/26

....

25,911

25,000

1614300.PS.FTS.B,

13.8%,

8/12/26

.....

28,174

27,211

1613874.PS.FTS.B,

15.2%,

8/12/26

.....

8,682

8,279

1614279.PS.FTS.B,

15.9%,

8/12/26

.....

8,268

7,884

1614306.PS.FTS.B,

18.5%,

8/12/26

.....

17,558

16,733

1613892.PS.FTS.B,

19.18%,

8/12/26

....

5,694

5,424

1603802.PS.FTS.B,

20.3%,

8/12/26

.....

8,830

8,413

1607554.PS.FTS.B,

20.9%,

8/12/26

.....

7,520

7,163

1603823.PS.FTS.B,

28.4%,

8/12/26

.....

1,808

1,743

1608010.PS.FTS.B,

12.5%,

8/13/26

.....

8,788

7,092

1614717.PS.FTS.B,

12.5%,

8/13/26

.....

5,589

5,394

1608121.PS.FTS.B,

12.7%,

8/13/26

.....

16,951

16,362

1608082.PS.FTS.B,

12.8%,

8/13/26

.....

12,911

12,461

1608391.PS.FTS.B,

13.49%,

8/13/26

....

12,944

12,422

1607971.PS.FTS.B,

13.7%,

8/13/26

.....

5,179

4,998

1607647.PS.FTS.B,

15%,

8/13/26

.......

6,955

6,637

1604489.PS.FTS.B,

15.1%,

8/13/26

.....

14,320

13,661

1608142.PS.FTS.B,

15.29%,

8/13/26

....

13,405

3,064

1615164.PS.FTS.B,

17%,

8/13/26

.......

8,780

8,356

1614735.PS.FTS.B,

18.73%,

8/13/26

....

10,543

10,055

1604672.PS.FTS.B,

20%,

8/13/26

.......

4,411

4,205

1608397.PS.FTS.B,

20.3%,

8/13/26

.....

7,689

7,323

1614804.PS.FTS.B,

20.7%,

8/13/26

.....

4,479

3,699

1614957.PS.FTS.B,

23.59%,

8/13/26

....

9,149

2,466

1614738.PS.FTS.B,

23.83%,

8/13/26

....

7,033

6,729

1604936.PS.FTS.B,

25%,

8/13/26

.......

1,791

1,730

1607854.PS.FTS.B,

25.48%,

8/13/26

....

2,228

2,133

1607977.PS.FTS.B,

25.48%,

8/13/26

....

4,036

3,896

1604924.PS.FTS.B,

28.4%,

8/13/26

.....

5,876

5,670

1604606.PS.FTS.B,

29.74%,

8/13/26

....

9,072

8,750

Description

Principal

Amount

Value

Prosper

Funding

LLC

(continued)

1605023.PS.FTS.B,

14.2%,

8/16/26

.....

$

17,302

$

16,709

1608934.PS.FTS.B,

16.6%,

8/16/26

.....

17,447

16,661

1605623.PS.FTS.B,

16.64%,

8/16/26

....

10,470

9,998

1608826.PS.FTS.B,

16.93%,

8/16/26

....

13,853

13,228

1608526.PS.FTS.B,

19.78%,

8/16/26

....

7,052

6,734

1616271.PS.FTS.B,

12.5%,

8/17/26

.....

10,318

9,967

1609138.PS.FTS.B,

16.18%,

8/17/26

....

13,067

12,621

1609525.PS.FTS.B,

17%,

8/17/26

.......

5,932

5,657

1616670.PS.FTS.B,

21.64%,

8/17/26

....

2,694

2,188

1611388.PS.FTS.B,

15.8%,

8/19/26

.....

22,484

21,493

1611682.PS.FTS.B,

13.3%,

8/20/26

.....

5,815

5,624

1608338.PS.FTS.B,

15.5%,

8/20/26

.....

8,107

1,878

1618482.PS.FTS.B,

15.5%,

8/20/26

.....

5,214

4,987

1604483.PS.FTS.B,

12.7%,

8/22/26

.....

24,219

23,399

1612375.PS.FTS.B,

14.29%,

8/23/26

....

8,654

8,286

1609286.PS.FTS.B,

15.2%,

8/23/26

.....

3,342

3,205

1619205.PS.FTS.B,

16%,

8/23/26

.......

6,935

6,639

1610333.PS.FTS.B,

14.39%,

8/24/26

....

3,463

3,317

1613140.PS.FTS.B,

14.7%,

8/24/26

.....

8,666

8,301

1620525.PS.FTS.B,

16.4%,

8/24/26

.....

5,231

5,009

1610477.PS.FTS.B,

20.5%,

8/25/26

.....

22,089

21,856

1606780.PS.FTS.B,

29.08%,

8/25/26

....

6,422

6,147

1622217.PS.FTS.B,

16.7%,

8/27/26

.....

5,311

5,092

1622412.PS.FTS.B,

18.3%,

8/27/26

.....

6,350

1,639

1613495.PS.FTS.B,

16.7%,

8/31/26

.....

22,105

20,984

1625707.PS.FTS.B,

11.7%,

9/16/26

.....

26,120

25,249

1626049.PS.FTS.B,

15.18%,

9/17/26

....

21,574

20,857

1633221.PS.FTS.B,

18.13%,

9/17/26

....

31,136

29,770

1632897.PS.FTS.B,

18.48%,

9/17/26

....

17,789

16,965

1627039.PS.FTS.B,

12.7%,

9/20/26

.....

3,494

3,381

1627618.PS.FTS.B,

11.79%,

9/21/26

....

9,580

9,271

1634841.PS.FTS.B,

11.79%,

9/21/26

....

10,451

10,114

1627588.PS.FTS.B,

12.9%,

9/21/26

.....

14,860

14,381

1634442.PS.FTS.B,

13.93%,

9/21/26

....

8,332

8,063

1634613.PS.FTS.B,

14.39%,

9/21/26

....

8,575

8,301

1627615.PS.FTS.B,

14.7%,

9/21/26

.....

4,396

4,207

1624370.PS.FTS.B,

16.18%,

9/21/26

....

11,925

11,410

1624379.PS.FTS.B,

16.2%,

9/21/26

.....

28,268

27,049

1634844.PS.FTS.B,

20.08%,

9/21/26

....

20,294

20,294

1628728.PS.FTS.B,

12.5%,

9/22/26

.....

6,111

5,915

1628428.PS.FTS.B,

12.87%,

9/22/26

....

5,680

5,498

1624733.PS.FTS.B,

16.33%,

9/22/26

....

5,744

5,498

1628431.PS.FTS.B,

16.64%,

9/22/26

....

10,172

9,737

1628947.PS.FTS.B,

12.5%,

9/23/26

.....

9,603

9,297

1635732.PS.FTS.B,

12.7%,

9/23/26

.....

11,356

10,995

1635660.PS.FTS.B,

12.87%,

9/23/26

....

8,740

8,462

1625255.PS.FTS.B,

13.2%,

9/23/26

.....

7,000

6,777

1625159.PS.FTS.B,

16.39%,

9/23/26

....

14,189

1,942

1636926.PS.FTS.B,

11.6%,

9/24/26

.....

10,009

9,693

1636920.PS.FTS.B,

12.62%,

9/24/26

....

4,473

4,423

1625639.PS.FTS.B,

12.7%,

9/24/26

.....

10,889

10,546

1629340.PS.FTS.B,

12.9%,

9/24/26

.....

6,008

5,820

1636005.PS.FTS.B,

13.3%,

9/24/26

.....

5,501

254

1636638.PS.FTS.B,

13.96%,

9/24/26

....

30,700

29,730

1636506.PS.FTS.B,

15.18%,

9/24/26

....

14,089

13,643

1626218.PS.FTS.B,

15.7%,

9/24/26

.....

10,584

10,139

1630162.PS.FTS.B,

16.33%,

9/24/26

....

22,098

21,168

1626512.PS.FTS.B,

20.5%,

9/24/26

.....

40

40

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

255

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Prosper

Funding

LLC

(continued)

1637322.PS.FTS.B,

12.4%,

9/27/26

.....

$

8,861

$

8,587

1630456.PS.FTS.B,

12.76%,

9/27/26

....

13,306

12,895

1630462.PS.FTS.B,

13.5%,

9/27/26

.....

1,180

1,147

1630438.PS.FTS.B,

15.29%,

9/27/26

....

8,936

8,570

1630432.PS.FTS.B,

15.9%,

9/27/26

.....

10,741

10,301

1630444.PS.FTS.B,

12.62%,

9/28/26

....

14,193

13,795

1625252.PS.FTS.B,

15.1%,

9/30/26

.....

13,440

12,897

1631725.PS.FTS.B,

15.1%,

9/30/26

.....

20,670

4,842

1635144.PS.FTS.B,

16.18%,

10/01/26

...

13,501

12,950

1627061.PS.FTS.B,

19.5%,

10/01/26

....

22,441

21,483

1636347.PS.FTS.B,

12.9%,

10/17/26

....

22,369

21,726

1626896.PS.FTS.B,

12.9%,

10/20/26

....

1,194

1,182

1648294.PS.FTS.B,

17.84%,

10/26/26

...

13,499

12,950

1655004.PS.FTS.B,

18.33%,

10/26/26

...

18,022

17,250

1655010.PS.FTS.B,

19%,

10/26/26

......

6,057

5,797

1648657.PS.FTS.B,

10.4%,

10/27/26

....

13,418

13,021

1648981.PS.FTS.B,

10.7%,

10/27/26

....

21,487

20,851

1645613.PS.FTS.B,

12.62%,

10/27/26

...

12,149

11,789

1655382.PS.FTS.B,

12.8%,

10/27/26

....

31,513

30,579

1655748.PS.FTS.B,

12.87%,

10/27/26

...

9,005

8,739

1655400.PS.FTS.B,

13.7%,

10/27/26

....

5,415

5,198

1648636.PS.FTS.B,

15.2%,

10/27/26

....

1,812

1,739

1655421.PS.FTS.B,

15.29%,

10/27/26

...

13,593

13,046

1645256.PS.FTS.B,

16.33%,

10/27/26

...

7,268

6,976

1645280.PS.FTS.B,

18.78%,

10/27/26

...

18,735

17,940

1648987.PS.FTS.B,

23.13%,

10/27/26

...

6,460

6,256

1645934.PS.FTS.B,

10.5%,

10/28/26

....

7,158

7,013

1646060.PS.FTS.B,

10.5%,

10/28/26

....

16,106

15,779

1656219.PS.FTS.B,

10.5%,

10/28/26

....

8,948

8,766

1649521.PS.FTS.B,

13.4%,

10/28/26

....

9,469

9,202

1649530.PS.FTS.B,

13.5%,

10/28/26

....

6,253

6,135

1649821.PS.FTS.B,

13.66%,

10/28/26

...

10,372

10,070

1646327.PS.FTS.B,

13.8%,

10/28/26

....

18,055

17,551

1649653.PS.FTS.B,

14.7%,

10/28/26

....

6,062

5,897

1646096.PS.FTS.B,

15.1%,

10/28/26

....

5,434

5,288

1646336.PS.FTS.B,

16.33%,

10/28/26

...

18,170

17,699

1656468.PS.FTS.B,

17.23%,

10/28/26

...

8,615

8,615

1656207.PS.FTS.B,

23.64%,

10/28/26

...

22,722

21,754

1649542.PS.FTS.B,

27.27%,

10/28/26

...

3,723

3,690

1646984.PS.FTS.B,

10.08%,

10/29/26

...

10,725

10,355

1656930.PS.FTS.B,

10.5%,

10/29/26

....

4,474

4,319

1657014.PS.FTS.B,

10.5%,

10/29/26

....

31,317

30,236

1657425.PS.FTS.B,

11.4%,

10/29/26

....

1,650

1,635

1657254.PS.FTS.B,

11.79%,

10/29/26

....

31,428

30,341

1650649.PS.FTS.B,

13.8%,

10/29/26

....

7,075

6,731

1657452.PS.FTS.B,

16.1%,

10/29/26

....

7,264

6,849

1657059.PS.FTS.B,

17%,

10/29/26

......

14,560

13,727

1650463.PS.FTS.B,

18.25%,

10/29/26

...

8,757

8,250

1650634.PS.FTS.B,

23.3%,

10/29/26

....

3,508

3,304

1647476.PS.FTS.B,

10.7%,

11/01/26

....

13,425

12,970

1657476.PS.FTS.B,

13.8%,

11/01/26

....

13,535

12,888

1658550.PS.FTS.B,

9.45%,

11/02/26

....

13,379

12,929

1649888.PS.FTS.B,

11.2%,

11/03/26

.....

21,509

20,789

1651424.PS.FTS.B,

10.8%,

11/05/26

....

10,743

10,389

1646087.PS.FTS.B,

11.43%,

11/05/26

....

8,094

7,886

1651418.PS.FTS.B,

11.6%,

11/05/26

.....

1,794

1,735

1654759.PS.FTS.B,

11.89%,

11/05/26

....

4,490

4,341

1650998.PS.FTS.B,

12.7%,

11/05/26

....

13,497

13,051

Description

Principal

Amount

Value

Prosper

Funding

LLC

(continued)

1661079.PS.FTS.B,

15.1%,

11/05/26

....

$

24,443

$

23,306

1654321.PS.FTS.B,

16%,

11/05/26

......

9,981

9,446

1661406.PS.FTS.B,

16.7%,

11/05/26

....

12,787

12,109

1660986.PS.FTS.B,

16.8%,

11/05/26

....

22,727

21,667

1661409.PS.FTS.B,

21.18%,

11/05/26

....

7,806

7,382

1654327.PS.FTS.B,

22.55%,

11/05/26

....

7,429

7,072

1655724.PS.FTS.B,

16.18%,

11/07/26

....

20,998

20,221

1651832.PS.FTS.B,

10.5%,

11/08/26

....

10,681

10,337

1652081.PS.FTS.B,

10.8%,

11/08/26

....

14,324

13,861

1651841.PS.FTS.B,

15.4%,

11/08/26

....

4,983

4,756

1658143.PS.FTS.B,

16.8%,

11/08/26

....

21,818

21,818

1665054.PS.FTS.B,

16.93%,

11/08/26

....

21,916

20,917

1658554.PS.FTS.B,

18.48%,

11/08/26

....

7,573

1,890

1659238.PS.FTS.B,

10.8%,

11/09/26

....

6,714

6,499

1653053.PS.FTS.B,

11.55%,

11/09/26

....

6,279

6,078

1665906.PS.FTS.B,

11.7%,

11/09/26

.....

7,179

6,949

1659646.PS.FTS.B,

11.88%,

11/09/26

....

10,123

9,808

1665897.PS.FTS.B,

11.89%,

11/09/26

....

7,632

7,387

1652894.PS.FTS.B,

12.7%,

11/09/26

....

8,651

8,378

1658878.PS.FTS.B,

12.98%,

11/09/26

....

22,511

21,787

1652888.PS.FTS.B,

13.03%,

11/09/26

....

9,005

8,716

1665885.PS.FTS.B,

13.7%,

11/09/26

....

22,562

21,547

1658887.PS.FTS.B,

13.8%,

11/09/26

....

13,433

12,828

1659130.PS.FTS.B,

15.18%,

11/09/26

....

12,677

12,105

1652711.PS.FTS.B,

16.2%,

11/09/26

.....

11,347

10,762

1665696.PS.FTS.B,

19%,

11/09/26

......

14,621

13,862

1659106.PS.FTS.B,

22.55%,

11/09/26

....

7,829

7,480

1665942.PS.FTS.B,

24.63%,

11/09/26

....

12,498

11,936

1658902.PS.FTS.B,

25.9%,

11/09/26

....

1,891

1,819

1659562.PS.FTS.B,

26.43%,

11/09/26

....

13,925

13,295

1654496.PS.FTS.B,

11.79%,

11/10/26

....

8,976

8,690

1667304.PS.FTS.B,

13.48%,

11/10/26

....

31,556

30,548

1667139.PS.FTS.B,

14.38%,

11/10/26

....

15,362

14,871

1660783.PS.FTS.B,

11.7%,

11/12/26

.....

16,153

15,645

1661254.PS.FTS.B,

21%,

11/12/26

......

6,426

6,153

1668165.PS.FTS.B,

22.6%,

11/12/26

....

4,606

4,409

1653277.PS.FTS.B,

13.8%,

11/13/26

....

21,740

20,768

1668453.PS.FTS.B,

9.62%,

11/15/26

....

11,600

11,244

1651010.PS.FTS.B,

10.8%,

11/15/26

....

13,394

12,953

1656380.PS.FTS.B,

10.9%,

11/15/26

....

7,164

6,944

1658161.PS.FTS.B,

13.3%,

11/15/26

....

7,683

7,350

1653980.PS.FTS.B,

13.7%,

11/15/26

....

13,526

12,922

1660438.PS.FTS.B,

16%,

11/19/26

......

4,558

4,328

1672608.PS.FTS.B,

16%,

11/19/26

......

5,444

5,191

1659127.PS.FTS.B,

16.8%,

11/20/26

....

18,285

17,496

1645619.PS.FTS.B,

18.78%,

11/20/26

....

12,039

11,552

1659142.PS.FTS.B,

14.6%,

11/21/26

....

7,273

6,960

1656341.PS.FTS.B,

15.29%,

11/26/26

....

15,026

14,410

1678408.PS.FTS.B,

10.5%,

12/14/26

....

10,898

10,582

1672670.PS.FTS.B,

12%,

12/14/26

......

6,380

6,195

1685286.PS.FTS.B,

12.5%,

12/14/26

....

6,387

6,202

1672652.PS.FTS.B,

12.7%,

12/14/26

....

22,821

22,159

1678405.PS.FTS.B,

13.8%,

12/14/26

....

13,727

13,160

1672658.PS.FTS.B,

18.4%,

12/14/26

....

11,090

10,552

1672667.PS.FTS.B,

18.78%,

12/14/26

...

10,914

10,383

1685589.PS.FTS.B,

22.8%,

12/14/26

....

11,764

11,194

1679083.PS.FTS.B,

10.5%,

12/15/26

....

18,163

17,641

1679092.PS.FTS.B,

11.79%,

12/15/26

....

9,126

8,886

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

256

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Prosper

Funding

LLC

(continued)

1679473.PS.FTS.B,

14.68%,

12/15/26

...

$

18,339

$

17,810

1679077.PS.FTS.B,

15.12%,

12/15/26

...

18,356

17,603

1685964.PS.FTS.B,

15.29%,

12/15/26

...

18,363

17,610

1672955.PS.FTS.B,

16.2%,

12/15/26

....

14,612

14,012

1672958.PS.FTS.B,

16.9%,

12/15/26

....

7,371

7,017

1672964.PS.FTS.B,

28.23%,

12/15/26

...

9,411

9,009

1680130.PS.FTS.B,

13.4%,

12/16/26

....

9,143

8,882

1680172.PS.FTS.B,

13.4%,

12/16/26

....

10,972

10,526

1679950.PS.FTS.B,

15.24%,

12/16/26

...

11,017

10,569

1679650.PS.FTS.B,

15.9%,

12/16/26

....

4,597

4,410

1687065.PS.FTS.B,

16.4%,

12/16/26

....

17,487

16,774

1680709.PS.FTS.B,

10.5%,

12/17/26

....

18,163

17,649

1687677.PS.FTS.B,

18.4%,

12/17/26

....

18,484

17,614

1674683.PS.FTS.B,

19%,

12/17/26

......

7,403

7,054

1680733.PS.FTS.B,

26.5%,

12/17/26

....

7,507

7,197

1681081.PS.FTS.B,

11.33%,

12/20/26

....

8,645

8,406

1681270.PS.FTS.B,

13.08%,

12/20/26

...

6,396

6,219

1679071.PS.FTS.B,

14.7%,

12/20/26

....

22,973

22,095

1681027.PS.FTS.B,

25.9%,

12/20/26

....

5,370

5,147

1676738.PS.FTS.B,

21.5%,

12/22/26

....

9,299

8,951

1683070.PS.FTS.B,

26.4%,

12/22/26

....

14,072

13,537

1677662.PS.FTS.B,

18.25%,

12/23/26

...

20,326

19,432

1680442.PS.FTS.B,

9.71%,

12/31/26

....

18,474

18,048

1681514.PS.FTS.B,

15.2%,

12/31/26

....

11,158

10,672

1645011.PS.FTS.B,

11.7%,

9/22/27

......

36,959

13,880

4,043,026

Upgrade,

Inc.

23041408.UG.FTS.B,

14.19%,

10/15/22

..

402

404

23489281.UG.FTS.B,

18.46%,

10/15/22

..

170

171

23578072.UG.FTS.B,

22.34%,

10/15/22

..

555

560

23511189.UG.FTS.B,

24.29%,

10/15/22

..

3,406

3,440

23552749.UG.FTS.B,

24.29%,

10/15/22

..

113

114

23501032.UG.FTS.B,

24.99%,

10/15/22

..

1,554

239

23525446.UG.FTS.B,

25.26%,

10/15/22

..

567

574

23563316.UG.FTS.B,

25.26%,

10/15/22

..

457

461

23569305.UG.FTS.B,

25.26%,

10/15/22

..

1,153

1,164

23485455.UG.FTS.B,

30.51%,

10/15/22

..

839

864

23594637.UG.FTS.B,

25.26%,

10/16/22

..

904

914

23605056.UG.FTS.B,

25.26%,

10/16/22

..

115

116

23605321.UG.FTS.B,

25.26%,

10/16/22

..

1,689

1,711

23597552.UG.FTS.B,

25.26%,

10/17/22

..

2,059

2,081

23630190.UG.FTS.B,

25.26%,

10/17/22

..

115

117

23635348.UG.FTS.B,

24.99%,

10/18/22

..

963

(13)

22941021.UG.FTS.B,

25.26%,

10/18/22

..

1,148

1,163

23651998.UG.FTS.B,

25.26%,

10/18/22

..

689

698

23746413.UG.FTS.B,

14.29%,

10/21/22

..

1,005

1,013

23493641.UG.FTS.B,

14.99%,

10/21/22

..

566

569

23724438.UG.FTS.B,

24.99%,

10/21/22

..

572

580

23740055.UG.FTS.B,

24.99%,

10/21/22

..

916

928

23730847.UG.FTS.B,

25.26%,

10/21/22

..

178

180

23672006.UG.FTS.B,

Zero

Cpn,

10/22/22

.

269

21

23730056.UG.FTS.B,

21.38%,

10/22/22

..

3,839

3,879

23653441.UG.FTS.B,

24.29%,

10/22/22

..

397

402

23694113.UG.FTS.B,

25.26%,

10/22/22

..

115

116

23760968.UG.FTS.B,

25.26%,

10/22/22

..

328

331

23767655.UG.FTS.B,

25.26%,

10/22/22

..

1,148

1,165

23782613.UG.FTS.B,

25.26%,

10/22/22

..

1,903

1,928

Description

Principal

Amount

Value

Upgrade,

Inc.

(continued)

23713109.UG.FTS.B,

14.29%,

10/23/22

..

$

101

$

101

23675028.UG.FTS.B,

18.46%,

10/23/22

..

1,059

1,067

23798311.UG.FTS.B,

23.3%,

10/23/22

...

561

568

23577000.UG.FTS.B,

25.26%,

10/23/22

..

7,263

7,329

23691875.UG.FTS.B,

25.26%,

10/23/22

..

689

699

23769541.UG.FTS.B,

25.26%,

10/23/22

..

138

140

23832122.UG.FTS.B,

25.26%,

10/24/22

..

2,877

2,912

23833392.UG.FTS.B,

25.26%,

10/24/22

..

793

8

23843578.UG.FTS.B,

25.26%,

10/24/22

..

652

61

23784970.UG.FTS.B,

25.26%,

10/25/22

..

804

816

23722058.UG.FTS.B,

24.29%,

10/27/22

..

3,302

532

23747966.UG.FTS.B,

18.46%,

10/28/22

..

216

218

23620002.UG.FTS.B,

21.38%,

10/28/22

..

2,742

2,775

23604577.UG.FTS.B,

24.99%,

10/31/22

..

544

543

23543933.UG.FTS.B,

25.26%,

10/31/22

..

7,171

7,226

23667875.UG.FTS.B,

25.26%,

10/31/22

..

1,267

1,274

23725850.UG.FTS.B,

25.26%,

10/31/22

..

3,291

3,315

23853633.UG.FTS.B,

22.34%,

11/01/22

..

764

767

23649728.UG.FTS.B,

23.3%,

11/01/22

...

395

397

23738963.UG.FTS.B,

25.26%,

11/01/22

..

379

382

23743020.UG.FTS.B,

25.26%,

11/02/22

..

581

586

23593658.UG.FTS.B,

24.99%,

11/03/22

..

3,006

3,020

23806327.UG.FTS.B,

25.26%,

11/04/22

..

39

6

23852798.UG.FTS.B,

25.26%,

11/04/22

..

1,465

(32)

24201399.UG.FTS.B,

25.26%,

11/06/22

..

152

154

24254603.UG.FTS.B,

25.26%,

11/07/22

..

435

437

24237195.UG.FTS.B,

30.51%,

11/07/22

..

3,475

283

23865227.UG.FTS.B,

25.26%,

11/14/22

..

3,989

4,045

24385036.UG.FTS.B,

25.26%,

11/15/22

..

1,384

1,403

24177734.UG.FTS.B,

25.26%,

11/18/22

..

2,349

2,383

24500475.UG.FTS.B,

25.26%,

11/18/22

..

2,047

195

24561375.UG.FTS.B,

25.26%,

11/19/22

..

2,273

2,307

24603049.UG.FTS.B,

23.3%,

11/20/22

...

148

150

23753978.UG.FTS.B,

25.26%,

11/20/22

..

2,957

2,991

24265697.UG.FTS.B,

25.26%,

11/21/22

..

2,554

2,575

24557481.UG.FTS.B,

25.26%,

11/21/22

..

760

770

24679045.UG.FTS.B,

23.3%,

11/22/22

...

4,430

4,484

24702305.UG.FTS.B,

19.99%,

11/25/22

..

1,215

105

24647910.UG.FTS.B,

22.34%,

11/25/22

..

1,466

1,484

24598359.UG.FTS.B,

25.26%,

11/25/22

..

597

606

24682587.UG.FTS.B,

25.26%,

11/25/22

..

910

923

24697392.UG.FTS.B,

25.26%,

11/25/22

..

306

311

24614060.UG.FTS.B,

25.26%,

11/26/22

..

522

530

24789598.UG.FTS.B,

25.26%,

11/27/22

..

3,874

3,933

24463019.UG.FTS.B,

22.34%,

11/28/22

..

2,273

372

24382106.UG.FTS.B,

25.26%,

11/28/22

..

6,062

6,153

24773171.UG.FTS.B,

23.3%,

11/29/22

...

4,627

4,643

24817129.UG.FTS.B,

25.26%,

12/02/22

..

563

568

24861750.UG.FTS.B,

25.26%,

12/02/22

..

229

94

24806209.UG.FTS.B,

24.99%,

12/03/22

..

4,348

4,339

24869155.UG.FTS.B,

21.38%,

12/04/22

..

539

543

24958533.UG.FTS.B,

24.29%,

12/04/22

..

557

561

24956265.UG.FTS.B,

24.99%,

12/04/22

..

1,121

1,132

24767095.UG.FTS.B,

25.26%,

12/04/22

..

340

342

24556463.UG.FTS.B,

24.99%,

12/05/22

..

1,869

1,888

24953277.UG.FTS.B,

30.12%,

12/05/22

..

238

98

24945411.UG.FTS.B,

19.99%,

12/06/22

..

442

445

25021464.UG.FTS.B,

19.99%,

12/09/22

..

1,624

1,630

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

257

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

(continued)

25016399.UG.FTS.B,

24.29%,

12/10/22

..

$

782

$

271

25087726.UG.FTS.B,

25.26%,

12/10/22

..

598

604

25141055.UG.FTS.B,

25.26%,

12/11/22

..

6,595

6,637

25004891.UG.FTS.B,

25.26%,

12/12/22

..

656

665

25179690.UG.FTS.B,

25.26%,

12/12/22

..

374

379

25157726.UG.FTS.B,

25.26%,

12/13/22

..

937

950

25083869.UG.FTS.B,

19.99%,

12/14/22

..

979

984

24762956.UG.FTS.B,

25.26%,

12/15/22

..

3,261

(54)

25017577.UG.FTS.B,

25.26%,

12/16/22

..

290

293

25276940.UG.FTS.B,

19.99%,

12/17/22

..

2,586

2,599

25320800.UG.FTS.B,

24.29%,

12/17/22

..

185

188

25350265.UG.FTS.B,

25.26%,

12/17/22

..

1,500

1,522

25223499.UG.FTS.B,

25.26%,

12/18/22

..

913

927

25338572.UG.FTS.B,

30.51%,

12/19/22

..

1,395

1,432

25438817.UG.FTS.B,

23.3%,

12/20/22

...

275

279

25347475.UG.FTS.B,

25.26%,

12/20/22

..

2,250

2,286

25406339.UG.FTS.B,

30.12%,

12/20/22

..

197

202

25805026.UG.FTS.B,

30.51%,

12/21/22

..

1,078

1,116

25481004.UG.FTS.B,

19.99%,

12/23/22

..

354

357

25418308.UG.FTS.B,

25.26%,

12/23/22

..

601

609

25472752.UG.FTS.B,

25.26%,

12/23/22

..

187

191

25466421.UG.FTS.B,

30.51%,

12/23/22

..

198

205

25517486.UG.FTS.B,

24.29%,

12/24/22

..

1,484

1,507

25507319.UG.FTS.B,

25.26%,

12/24/22

..

187

191

25513881.UG.FTS.B,

25.26%,

12/24/22

..

87

87

25515345.UG.FTS.B,

25.26%,

12/24/22

..

2,505

2,537

25521488.UG.FTS.B,

30.51%,

12/24/22

..

297

307

25485430.UG.FTS.B,

30.51%,

12/26/22

..

1,589

1,637

25561004.UG.FTS.B,

25.26%,

12/27/22

..

2,867

2,898

25657936.UG.FTS.B,

22.34%,

12/30/22

..

175

175

25621764.UG.FTS.B,

24.29%,

12/30/22

..

441

444

25024829.UG.FTS.B,

25.26%,

12/31/22

..

2,773

2,776

25392723.UG.FTS.B,

25.26%,

12/31/22

..

4,194

1,125

25514664.UG.FTS.B,

30.51%,

1/01/23

...

245

251

25516664.UG.FTS.B,

25.26%,

1/02/23

...

446

450

25572365.UG.FTS.B,

25.26%,

1/02/23

...

150

150

25718462.UG.FTS.B,

14.99%,

1/03/23

...

398

400

25759538.UG.FTS.B,

23.3%,

1/03/23

....

204

203

25688752.UG.FTS.B,

24.29%,

1/07/23

...

1,319

1,318

25598205.UG.FTS.B,

25.26%,

1/07/23

...

223

225

25801571.UG.FTS.B,

25.26%,

1/07/23

...

1,113

1,126

25832795.UG.FTS.B,

25.26%,

1/14/23

...

779

791

25610639.UG.FTS.B,

25.26%,

1/15/23

...

227

229

25770271.UG.FTS.B,

25.26%,

1/15/23

...

2,248

2,273

25776610.UG.FTS.B,

25.26%,

1/17/23

...

1,776

1,800

25468327.UG.FTS.B,

22.34%,

3/08/23

...

17,101

3,519

23553668.UG.FTS.B,

29.69%,

10/15/24

..

7,536

7,983

23553542.UG.FTS.B,

25.82%,

10/16/24

..

7,120

7,423

23793303.UG.FTS.B,

27.74%,

10/22/24

..

14,586

15,087

23546722.UG.FTS.B,

29.69%,

10/22/24

..

11,304

12,014

23717152.UG.FTS.B,

15.12%,

10/23/24

..

16,291

16,822

23816823.UG.FTS.B,

25.82%,

10/24/24

..

9,093

9,520

24174311.UG.FTS.B,

29.69%,

11/05/24

..

24,220

5,124

24398576.UG.FTS.B,

15.99%,

11/13/24

..

11,348

11,726

24254995.UG.FTS.B,

29.69%,

11/14/24

..

16,957

16,970

24485661.UG.FTS.B,

29.69%,

11/18/24

..

19,100

19,747

24557579.UG.FTS.B,

26.77%,

11/19/24

..

11,782

12,115

24631334.UG.FTS.B,

29.69%,

11/21/24

..

16,148

17,059

Description

Principal

Amount

Value

Upgrade,

Inc.

(continued)

24909623.UG.FTS.B,

27.74%,

12/02/24

..

$

22,728

$

23,643

24596272.UG.FTS.B,

29.69%,

12/04/24

..

23,933

24,480

24950608.UG.FTS.B,

29.69%,

12/04/24

..

26,040

5,548

24677388.UG.FTS.B,

29.69%,

12/06/24

..

9,260

9,524

24350035.UG.FTS.B,

28.99%,

12/10/24

..

8,859

9,309

24672526.UG.FTS.B,

29.69%,

12/11/24

..

19,807

20,789

24959142.UG.FTS.B,

29.69%,

12/15/24

..

15,854

16,249

25367605.UG.FTS.B,

25.82%,

12/18/24

..

21,421

22,257

24864814.UG.FTS.B,

29.69%,

12/18/24

..

22,035

(673)

25312483.UG.FTS.B,

29.69%,

12/18/24

..

11,643

11,995

25237402.UG.FTS.B,

29.69%,

12/21/24

..

18,105

18,605

24451345.UG.FTS.B,

25.82%,

12/31/24

..

14,221

2,933

25843226.UG.FTS.B,

28.99%,

1/07/25

...

14,443

15,126

24414523.UG.FTS.B,

28.71%,

1/15/25

...

11,059

11,059

25708036.UG.FTS.B,

29.69%,

1/20/25

...

23,601

22,541

527,513

Upgrade,

Inc.

-

Card

991188689.UG.FTS.B,

27.99%,

1/20/23

..

8

7

991068170.UG.FTS.B,

Zero

Cpn,

10/19/23

71

–

991072879.UG.FTS.B,

28.48%,

10/20/23

.

379

51

991072459.UG.FTS.B,

29.48%,

10/20/23

.

140

139

990915742.UG.FTS.B,

29.49%,

10/21/23

.

48

48

990925943.UG.FTS.B,

29.49%,

10/21/23

.

0

0

990984188.UG.FTS.B,

28.48%,

10/22/23

.

190

190

991018485.UG.FTS.B,

29.49%,

10/22/23

.

105

104

991016928.UG.FTS.B,

15.49%,

11/08/23

.

388

383

991024355.UG.FTS.B,

18.71%,

11/08/23

.

204

201

991205630.UG.FTS.B,

18.71%,

11/08/23

.

35

29

991036581.UG.FTS.B,

21.48%,

11/08/23

.

21

21

991083189.UG.FTS.B,

25.45%,

11/08/23

.

160

156

991014733.UG.FTS.B,

26.44%,

11/08/23

.

187

184

991008863.UG.FTS.B,

28.48%,

11/08/23

.

120

118

991024591.UG.FTS.B,

28.48%,

11/08/23

.

68

67

991084429.UG.FTS.B,

28.48%,

11/08/23

.

126

16

991191742.UG.FTS.B,

28.48%,

11/08/23

.

130

128

991204964.UG.FTS.B,

28.48%,

11/08/23

.

–

–

991163275.UG.FTS.B,

29.48%,

11/08/23

.

306

300

991008836.UG.FTS.B,

29.49%,

11/08/23

.

671

663

991012781.UG.FTS.B,

29.49%,

11/08/23

.

50

49

991016192.UG.FTS.B,

29.49%,

11/08/23

.

28

11

991019090.UG.FTS.B,

29.49%,

11/08/23

.

128

125

991019637.UG.FTS.B,

29.49%,

11/08/23

.

157

156

991023326.UG.FTS.B,

29.49%,

11/08/23

.

160

21

991036352.UG.FTS.B,

29.49%,

11/08/23

.

561

451

991042660.UG.FTS.B,

29.49%,

11/08/23

.

796

789

991044888.UG.FTS.B,

29.49%,

11/08/23

.

116

113

991078127.UG.FTS.B,

29.49%,

11/08/23

.

45

44

991082730.UG.FTS.B,

29.49%,

11/08/23

.

17

17

991124803.UG.FTS.B,

29.49%,

11/08/23

.

215

210

991136290.UG.FTS.B,

29.49%,

11/08/23

.

118

115

991158499.UG.FTS.B,

29.49%,

11/08/23

.

4

4

991189626.UG.FTS.B,

29.49%,

11/08/23

.

17

16

991195286.UG.FTS.B,

29.49%,

11/08/23

.

62

60

991203811.UG.FTS.B,

29.49%,

11/08/23

.

28

4

991205666.UG.FTS.B,

29.49%,

11/08/23

.

28

27

991205924.UG.FTS.B,

29.49%,

11/08/23

.

41

40

991014608.UG.FTS.B,

Zero

Cpn,

11/09/23

161

–

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

258

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991216040.UG.FTS.B,

15.47%,

11/09/23

.

$

1,046

$

1,053

991016366.UG.FTS.B,

16.49%,

11/09/23

.

834

819

991018942.UG.FTS.B,

17.49%,

11/09/23

.

240

236

991090154.UG.FTS.B,

18.71%,

11/09/23

.

49

50

991210911.UG.FTS.B,

19.3%,

11/09/23

..

45

45

991017884.UG.FTS.B,

19.96%,

11/09/23

.

168

12

991142960.UG.FTS.B,

19.96%,

11/09/23

.

371

370

991216115.UG.FTS.B,

19.96%,

11/09/23

.

–

–

991018978.UG.FTS.B,

20.47%,

11/09/23

.

979

985

991205449.UG.FTS.B,

20.47%,

11/09/23

.

61

60

991208629.UG.FTS.B,

20.47%,

11/09/23

.

43

42

991189579.UG.FTS.B,

20.96%,

11/09/23

.

46

46

991100123.UG.FTS.B,

23.45%,

11/09/23

.

170

12

991015928.UG.FTS.B,

28.48%,

11/09/23

.

82

83

991016019.UG.FTS.B,

28.48%,

11/09/23

.

0

0

991018613.UG.FTS.B,

28.48%,

11/09/23

.

108

110

991026488.UG.FTS.B,

28.48%,

11/09/23

.

169

42

991187584.UG.FTS.B,

28.48%,

11/09/23

.

210

206

991210304.UG.FTS.B,

28.48%,

11/09/23

.

87

88

991218450.UG.FTS.B,

28.48%,

11/09/23

.

491

494

991021226.UG.FTS.B,

29.48%,

11/09/23

.

325

331

991022541.UG.FTS.B,

29.48%,

11/09/23

.

6

6

991023990.UG.FTS.B,

29.48%,

11/09/23

.

197

198

991025120.UG.FTS.B,

29.48%,

11/09/23

.

249

250

991039402.UG.FTS.B,

29.48%,

11/09/23

.

38

38

991043854.UG.FTS.B,

29.48%,

11/09/23

.

72

72

991203796.UG.FTS.B,

29.48%,

11/09/23

.

24

24

991015446.UG.FTS.B,

29.49%,

11/09/23

.

89

(4)

991018932.UG.FTS.B,

29.49%,

11/09/23

.

590

580

991019302.UG.FTS.B,

29.49%,

11/09/23

.

32

32

991020417.UG.FTS.B,

29.49%,

11/09/23

.

258

253

991021901.UG.FTS.B,

29.49%,

11/09/23

.

252

255

991022040.UG.FTS.B,

29.49%,

11/09/23

.

149

108

991025480.UG.FTS.B,

29.49%,

11/09/23

.

184

181

991025530.UG.FTS.B,

29.49%,

11/09/23

.

40

39

991032018.UG.FTS.B,

29.49%,

11/09/23

.

207

210

991035358.UG.FTS.B,

29.49%,

11/09/23

.

77

76

991035968.UG.FTS.B,

29.49%,

11/09/23

.

112

114

991045091.UG.FTS.B,

29.49%,

11/09/23

.

71

72

991047307.UG.FTS.B,

29.49%,

11/09/23

.

98

97

991050282.UG.FTS.B,

29.49%,

11/09/23

.

89

91

991086005.UG.FTS.B,

29.49%,

11/09/23

.

74

73

991160522.UG.FTS.B,

29.49%,

11/09/23

.

154

150

991162392.UG.FTS.B,

29.49%,

11/09/23

.

64

65

991172845.UG.FTS.B,

29.49%,

11/09/23

.

23

22

991190557.UG.FTS.B,

29.49%,

11/09/23

.

154

11

991200769.UG.FTS.B,

29.49%,

11/09/23

.

18

18

991202489.UG.FTS.B,

29.49%,

11/09/23

.

131

130

991205908.UG.FTS.B,

29.49%,

11/09/23

.

62

4

991206693.UG.FTS.B,

29.49%,

11/09/23

.

43

43

991206820.UG.FTS.B,

29.49%,

11/09/23

.

174

43

991214142.UG.FTS.B,

29.49%,

11/09/23

.

17

17

991215292.UG.FTS.B,

29.49%,

11/09/23

.

101

102

991216518.UG.FTS.B,

29.49%,

11/09/23

.

41

41

991021402.UG.FTS.B,

15.47%,

11/10/23

.

52

52

991023400.UG.FTS.B,

16.49%,

11/10/23

.

508

501

991112199.UG.FTS.B,

17.49%,

11/10/23

..

19

19

991062680.UG.FTS.B,

18.96%,

11/10/23

.

184

179

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991019746.UG.FTS.B,

19.3%,

11/10/23

..

$

184

$

180

991022143.UG.FTS.B,

19.96%,

11/10/23

.

400

392

991023517.UG.FTS.B,

19.96%,

11/10/23

.

880

62

991025634.UG.FTS.B,

19.96%,

11/10/23

.

137

138

991077436.UG.FTS.B,

19.96%,

11/10/23

.

–

–

991219263.UG.FTS.B,

19.96%,

11/10/23

.

–

–

991070494.UG.FTS.B,

20.48%,

11/10/23

.

886

110

991060000.UG.FTS.B,

20.96%,

11/10/23

.

254

248

991217044.UG.FTS.B,

20.96%,

11/10/23

.

891

890

991024000.UG.FTS.B,

21.47%,

11/10/23

.

766

749

991024114.UG.FTS.B,

21.47%,

11/10/23

.

1

1

991025899.UG.FTS.B,

21.47%,

11/10/23

.

670

657

991023566.UG.FTS.B,

21.48%,

11/10/23

.

–

–

991216376.UG.FTS.B,

21.48%,

11/10/23

.

142

141

991225070.UG.FTS.B,

22.47%,

11/10/23

.

107

104

991034169.UG.FTS.B,

23.45%,

11/10/23

.

40

40

991045741.UG.FTS.B,

23.45%,

11/10/23

.

171

167

991051732.UG.FTS.B,

23.45%,

11/10/23

.

118

118

991087286.UG.FTS.B,

23.45%,

11/10/23

.

750

733

991107974.UG.FTS.B,

23.45%,

11/10/23

.

70

70

991217504.UG.FTS.B,

25.45%,

11/10/23

.

193

192

991045793.UG.FTS.B,

26.44%,

11/10/23

.

608

590

991029379.UG.FTS.B,

28.48%,

11/10/23

.

232

17

991030277.UG.FTS.B,

28.48%,

11/10/23

.

568

72

991106609.UG.FTS.B,

28.48%,

11/10/23

.

355

360

991211370.UG.FTS.B,

28.48%,

11/10/23

.

96

97

991217060.UG.FTS.B,

28.48%,

11/10/23

.

196

195

991034803.UG.FTS.B,

29.48%,

11/10/23

.

5

5

991038313.UG.FTS.B,

29.48%,

11/10/23

.

117

118

991045101.UG.FTS.B,

29.48%,

11/10/23

.

287

292

991045681.UG.FTS.B,

29.48%,

11/10/23

.

672

666

991145486.UG.FTS.B,

29.48%,

11/10/23

.

159

156

991165319.UG.FTS.B,

29.48%,

11/10/23

.

112

112

991024808.UG.FTS.B,

29.49%,

11/10/23

.

95

96

991025699.UG.FTS.B,

29.49%,

11/10/23

.

0

0

991026295.UG.FTS.B,

29.49%,

11/10/23

.

109

111

991037375.UG.FTS.B,

29.49%,

11/10/23

.

55

55

991056252.UG.FTS.B,

29.49%,

11/10/23

.

890

889

991059214.UG.FTS.B,

29.49%,

11/10/23

.

190

188

991120608.UG.FTS.B,

29.49%,

11/10/23

.

278

18

991124867.UG.FTS.B,

29.49%,

11/10/23

.

75

73

991187212.UG.FTS.B,

29.49%,

11/10/23

.

298

298

991199599.UG.FTS.B,

29.49%,

11/10/23

.

112

15

991212362.UG.FTS.B,

29.49%,

11/10/23

.

54

46

991213301.UG.FTS.B,

29.49%,

11/10/23

.

65

65

991025608.UG.FTS.B,

Zero

Cpn,

11/11/23

70

–

991029631.UG.FTS.B,

Zero

Cpn,

11/11/23

604

–

991032353.UG.FTS.B,

Zero

Cpn,

11/11/23

571

–

991036050.UG.FTS.B,

Zero

Cpn,

11/11/23

108

–

991038678.UG.FTS.B,

Zero

Cpn,

11/11/23

481

–

991041178.UG.FTS.B,

Zero

Cpn,

11/11/23

46

–

991084171.UG.FTS.B,

Zero

Cpn,

11/11/23

123

–

991087708.UG.FTS.B,

Zero

Cpn,

11/11/23

384

–

991106949.UG.FTS.B,

Zero

Cpn,

11/11/23

104

–

991127360.UG.FTS.B,

Zero

Cpn,

11/11/23

485

–

991133834.UG.FTS.B,

Zero

Cpn,

11/11/23

500

–

991135449.UG.FTS.B,

Zero

Cpn,

11/11/23

337

–

991137100.UG.FTS.B,

Zero

Cpn,

11/11/23

192

–

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

259

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991183565.UG.FTS.B,

Zero

Cpn,

11/11/23

$

249

$

–

991183878.UG.FTS.B,

Zero

Cpn,

11/11/23

103

–

991185013.UG.FTS.B,

Zero

Cpn,

11/11/23

60

–

991231892.UG.FTS.B,

Zero

Cpn,

11/11/23

611

–

991153106.UG.FTS.B,

14.48%,

11/11/23

..

823

833

991042103.UG.FTS.B,

16.49%,

11/11/23

.

–

–

991197390.UG.FTS.B,

16.49%,

11/11/23

..

1,628

398

991202378.UG.FTS.B,

16.49%,

11/11/23

.

133

133

991052517.UG.FTS.B,

18.3%,

11/11/23

..

314

22

991222491.UG.FTS.B,

18.3%,

11/11/23

..

347

343

991031385.UG.FTS.B,

18.47%,

11/11/23

.

249

252

991038833.UG.FTS.B,

18.47%,

11/11/23

.

639

643

991056914.UG.FTS.B,

18.47%,

11/11/23

.

17

16

991057499.UG.FTS.B,

18.47%,

11/11/23

.

66

66

991106109.UG.FTS.B,

18.47%,

11/11/23

..

179

180

991217411.UG.FTS.B,

18.47%,

11/11/23

..

704

706

991131131.UG.FTS.B,

19.3%,

11/11/23

...

329

323

991212211.UG.FTS.B,

19.3%,

11/11/23

...

70

70

991030997.UG.FTS.B,

19.47%,

11/11/23

.

127

126

991033375.UG.FTS.B,

19.47%,

11/11/23

.

18

18

991044894.UG.FTS.B,

19.96%,

11/11/23

.

645

650

991062058.UG.FTS.B,

19.96%,

11/11/23

.

126

31

991033770.UG.FTS.B,

19.99%,

11/11/23

.

144

146

991025975.UG.FTS.B,

20.47%,

11/11/23

.

22

22

991030285.UG.FTS.B,

20.47%,

11/11/23

.

30

30

991033897.UG.FTS.B,

20.47%,

11/11/23

.

1,419

1,392

991064572.UG.FTS.B,

20.47%,

11/11/23

.

98

99

991076768.UG.FTS.B,

20.47%,

11/11/23

.

52

52

991229243.UG.FTS.B,

20.47%,

11/11/23

.

11

11

991029642.UG.FTS.B,

20.96%,

11/11/23

.

51

51

991047231.UG.FTS.B,

20.96%,

11/11/23

.

11

11

991062734.UG.FTS.B,

20.96%,

11/11/23

.

163

160

991074814.UG.FTS.B,

20.96%,

11/11/23

.

717

721

991080192.UG.FTS.B,

20.96%,

11/11/23

.

311

312

991086736.UG.FTS.B,

20.96%,

11/11/23

.

68

(1)

991031717.UG.FTS.B,

21.47%,

11/11/23

.

72

70

991030004.UG.FTS.B,

21.48%,

11/11/23

.

29

29

991034529.UG.FTS.B,

21.48%,

11/11/23

.

174

175

991035672.UG.FTS.B,

21.48%,

11/11/23

.

262

207

991037263.UG.FTS.B,

21.48%,

11/11/23

.

806

787

991049720.UG.FTS.B,

21.48%,

11/11/23

.

69

68

991081352.UG.FTS.B,

21.48%,

11/11/23

.

140

140

991044271.UG.FTS.B,

22.45%,

11/11/23

.

388

85

991029640.UG.FTS.B,

22.47%,

11/11/23

.

362

364

991090030.UG.FTS.B,

22.47%,

11/11/23

.

285

286

991118044.UG.FTS.B,

22.47%,

11/11/23

..

34

34

991175335.UG.FTS.B,

22.47%,

11/11/23

..

68

67

991206848.UG.FTS.B,

22.47%,

11/11/23

.

7

7

991208225.UG.FTS.B,

22.47%,

11/11/23

.

65

65

991215040.UG.FTS.B,

22.47%,

11/11/23

.

111

111

991039187.UG.FTS.B,

23.45%,

11/11/23

.

222

15

991204893.UG.FTS.B,

23.45%,

11/11/23

.

42

42

991064463.UG.FTS.B,

25.44%,

11/11/23

.

542

542

991079094.UG.FTS.B,

25.44%,

11/11/23

.

192

191

991197721.UG.FTS.B,

25.44%,

11/11/23

..

83

83

991038892.UG.FTS.B,

25.45%,

11/11/23

.

9

9

991131589.UG.FTS.B,

25.45%,

11/11/23

..

143

142

991024483.UG.FTS.B,

26.44%,

11/11/23

.

233

16

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991025401.UG.FTS.B,

28.48%,

11/11/23

.

$

259

$

263

991025518.UG.FTS.B,

28.48%,

11/11/23

.

70

71

991026394.UG.FTS.B,

28.48%,

11/11/23

.

14

14

991033125.UG.FTS.B,

28.48%,

11/11/23

.

108

109

991054094.UG.FTS.B,

28.48%,

11/11/23

.

70

71

991056001.UG.FTS.B,

28.48%,

11/11/23

.

152

155

991056988.UG.FTS.B,

28.48%,

11/11/23

.

100

102

991061786.UG.FTS.B,

28.48%,

11/11/23

.

17

17

991069195.UG.FTS.B,

28.48%,

11/11/23

.

672

685

991079986.UG.FTS.B,

28.48%,

11/11/23

.

351

357

991087213.UG.FTS.B,

28.48%,

11/11/23

.

147

149

991087252.UG.FTS.B,

28.48%,

11/11/23

.

35

35

991089405.UG.FTS.B,

28.48%,

11/11/23

.

131

133

991097701.UG.FTS.B,

28.48%,

11/11/23

.

75

76

991098384.UG.FTS.B,

28.48%,

11/11/23

.

0

0

991100814.UG.FTS.B,

28.48%,

11/11/23

..

419

427

991112913.UG.FTS.B,

28.48%,

11/11/23

..

131

132

991132548.UG.FTS.B,

28.48%,

11/11/23

..

28

28

991143773.UG.FTS.B,

28.48%,

11/11/23

..

38

38

991167727.UG.FTS.B,

28.48%,

11/11/23

..

581

40

991169118.UG.FTS.B,

28.48%,

11/11/23

..

1,163

1,185

991184147.UG.FTS.B,

28.48%,

11/11/23

..

189

190

991188386.UG.FTS.B,

28.48%,

11/11/23

..

262

263

991030132.UG.FTS.B,

29.46%,

11/11/23

.

358

364

991032192.UG.FTS.B,

29.48%,

11/11/23

.

134

136

991042477.UG.FTS.B,

29.48%,

11/11/23

.

259

264

991059340.UG.FTS.B,

29.48%,

11/11/23

.

109

7

991073502.UG.FTS.B,

29.48%,

11/11/23

.

511

520

991074883.UG.FTS.B,

29.48%,

11/11/23

.

1,104

1,126

991077130.UG.FTS.B,

29.48%,

11/11/23

.

844

861

991077600.UG.FTS.B,

29.48%,

11/11/23

.

5

5

991096801.UG.FTS.B,

29.48%,

11/11/23

.

505

513

991110737.UG.FTS.B,

29.48%,

11/11/23

..

71

(3)

991121194.UG.FTS.B,

29.48%,

11/11/23

..

1,076

1,078

991132279.UG.FTS.B,

29.48%,

11/11/23

..

310

311

991132339.UG.FTS.B,

29.48%,

11/11/23

..

259

264

991141134.UG.FTS.B,

29.48%,

11/11/23

..

469

476

991143460.UG.FTS.B,

29.48%,

11/11/23

..

96

98

991169941.UG.FTS.B,

29.48%,

11/11/23

..

142

109

991188940.UG.FTS.B,

29.48%,

11/11/23

..

117

117

991192712.UG.FTS.B,

29.48%,

11/11/23

..

–

–

991196471.UG.FTS.B,

29.48%,

11/11/23

..

67

67

991216655.UG.FTS.B,

29.48%,

11/11/23

.

493

488

991024641.UG.FTS.B,

29.49%,

11/11/23

.

77

78

991024658.UG.FTS.B,

29.49%,

11/11/23

.

38

38

991024665.UG.FTS.B,

29.49%,

11/11/23

.

6

6

991024686.UG.FTS.B,

29.49%,

11/11/23

.

168

171

991024894.UG.FTS.B,

29.49%,

11/11/23

.

78

77

991024915.UG.FTS.B,

29.49%,

11/11/23

.

119

120

991025245.UG.FTS.B,

29.49%,

11/11/23

.

76

75

991025344.UG.FTS.B,

29.49%,

11/11/23

.

41

41

991025879.UG.FTS.B,

29.49%,

11/11/23

.

929

946

991026432.UG.FTS.B,

29.49%,

11/11/23

.

214

218

991026622.UG.FTS.B,

29.49%,

11/11/23

.

19

19

991026639.UG.FTS.B,

29.49%,

11/11/23

.

257

18

991026738.UG.FTS.B,

29.49%,

11/11/23

.

221

31

991027543.UG.FTS.B,

29.49%,

11/11/23

.

425

114

991028425.UG.FTS.B,

29.49%,

11/11/23

.

62

61

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

260

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991029761.UG.FTS.B,

29.49%,

11/11/23

.

$

74

$

19

991029813.UG.FTS.B,

29.49%,

11/11/23

.

85

86

991031014.UG.FTS.B,

29.49%,

11/11/23

.

21

21

991031265.UG.FTS.B,

29.49%,

11/11/23

.

79

80

991031599.UG.FTS.B,

29.49%,

11/11/23

.

113

(5)

991032955.UG.FTS.B,

29.49%,

11/11/23

.

131

133

991033023.UG.FTS.B,

29.49%,

11/11/23

.

185

183

991033311.UG.FTS.B,

29.49%,

11/11/23

..

20

20

991033355.UG.FTS.B,

29.49%,

11/11/23

.

32

(1)

991033534.UG.FTS.B,

29.49%,

11/11/23

.

117

116

991034193.UG.FTS.B,

29.49%,

11/11/23

.

314

317

991034815.UG.FTS.B,

29.49%,

11/11/23

.

587

597

991036490.UG.FTS.B,

29.49%,

11/11/23

.

938

955

991036718.UG.FTS.B,

29.49%,

11/11/23

.

242

246

991038831.UG.FTS.B,

29.49%,

11/11/23

.

76

26

991039757.UG.FTS.B,

29.49%,

11/11/23

.

298

300

991039945.UG.FTS.B,

29.49%,

11/11/23

.

152

155

991040317.UG.FTS.B,

29.49%,

11/11/23

.

75

75

991041006.UG.FTS.B,

29.49%,

11/11/23

.

46

46

991041167.UG.FTS.B,

29.49%,

11/11/23

..

726

740

991042076.UG.FTS.B,

29.49%,

11/11/23

.

268

19

991042359.UG.FTS.B,

29.49%,

11/11/23

.

1,820

1,842

991043005.UG.FTS.B,

29.49%,

11/11/23

.

284

288

991043262.UG.FTS.B,

29.49%,

11/11/23

.

80

11

991043493.UG.FTS.B,

29.49%,

11/11/23

.

653

663

991044490.UG.FTS.B,

29.49%,

11/11/23

.

149

151

991046494.UG.FTS.B,

29.49%,

11/11/23

.

11

10

991046860.UG.FTS.B,

29.49%,

11/11/23

.

504

511

991047371.UG.FTS.B,

29.49%,

11/11/23

.

522

36

991049412.UG.FTS.B,

29.49%,

11/11/23

.

55

56

991049605.UG.FTS.B,

29.49%,

11/11/23

.

66

68

991050057.UG.FTS.B,

29.49%,

11/11/23

.

73

5

991050801.UG.FTS.B,

29.49%,

11/11/23

.

365

371

991053364.UG.FTS.B,

29.49%,

11/11/23

.

84

85

991054608.UG.FTS.B,

29.49%,

11/11/23

.

414

337

991056670.UG.FTS.B,

29.49%,

11/11/23

.

77

79

991057788.UG.FTS.B,

29.49%,

11/11/23

.

16

16

991058470.UG.FTS.B,

29.49%,

11/11/23

.

165

22

991058489.UG.FTS.B,

29.49%,

11/11/23

.

21

21

991059040.UG.FTS.B,

29.49%,

11/11/23

.

65

64

991059387.UG.FTS.B,

29.49%,

11/11/23

.

488

34

991059735.UG.FTS.B,

29.49%,

11/11/23

.

12

12

991060200.UG.FTS.B,

29.49%,

11/11/23

.

120

119

991061678.UG.FTS.B,

29.49%,

11/11/23

.

157

160

991065995.UG.FTS.B,

29.49%,

11/11/23

.

89

88

991066377.UG.FTS.B,

29.49%,

11/11/23

.

42

42

991066988.UG.FTS.B,

29.49%,

11/11/23

.

86

84

991068123.UG.FTS.B,

29.49%,

11/11/23

.

29

29

991068657.UG.FTS.B,

29.49%,

11/11/23

.

111

111

991070551.UG.FTS.B,

29.49%,

11/11/23

.

1,111

1,121

991071022.UG.FTS.B,

29.49%,

11/11/23

.

111

29

991071888.UG.FTS.B,

29.49%,

11/11/23

.

81

11

991072454.UG.FTS.B,

29.49%,

11/11/23

.

118

120

991072787.UG.FTS.B,

29.49%,

11/11/23

.

136

(1)

991073324.UG.FTS.B,

29.49%,

11/11/23

.

398

398

991074139.UG.FTS.B,

29.49%,

11/11/23

.

147

150

991077294.UG.FTS.B,

29.49%,

11/11/23

.

140

140

991078791.UG.FTS.B,

29.49%,

11/11/23

.

350

355

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991080602.UG.FTS.B,

29.49%,

11/11/23

.

$

92

$

93

991083692.UG.FTS.B,

29.49%,

11/11/23

.

41

(2)

991085405.UG.FTS.B,

29.49%,

11/11/23

.

162

165

991086306.UG.FTS.B,

29.49%,

11/11/23

.

112

113

991089928.UG.FTS.B,

29.49%,

11/11/23

.

27

2

991096256.UG.FTS.B,

29.49%,

11/11/23

.

197

28

991097791.UG.FTS.B,

29.49%,

11/11/23

.

115

16

991098895.UG.FTS.B,

29.49%,

11/11/23

.

108

108

991099009.UG.FTS.B,

29.49%,

11/11/23

.

934

951

991099822.UG.FTS.B,

29.49%,

11/11/23

.

213

215

991102904.UG.FTS.B,

29.49%,

11/11/23

..

111

112

991104067.UG.FTS.B,

29.49%,

11/11/23

..

66

68

991108947.UG.FTS.B,

29.49%,

11/11/23

..

91

13

991109310.UG.FTS.B,

29.49%,

11/11/23

..

258

(11)

991110285.UG.FTS.B,

29.49%,

11/11/23

..

129

33

991111355.UG.FTS.B,

29.49%,

11/11/23

..

19

19

991117944.UG.FTS.B,

29.49%,

11/11/23

..

11

11

991119020.UG.FTS.B,

29.49%,

11/11/23

..

433

438

991120062.UG.FTS.B,

29.49%,

11/11/23

..

142

10

991122002.UG.FTS.B,

29.49%,

11/11/23

..

46

47

991125267.UG.FTS.B,

29.49%,

11/11/23

..

99

8

991126748.UG.FTS.B,

29.49%,

11/11/23

..

74

76

991127514.UG.FTS.B,

29.49%,

11/11/23

..

65

66

991131951.UG.FTS.B,

29.49%,

11/11/23

..

32

32

991143651.UG.FTS.B,

29.49%,

11/11/23

..

122

122

991146122.UG.FTS.B,

29.49%,

11/11/23

..

140

143

991153842.UG.FTS.B,

29.49%,

11/11/23

..

90

92

991153904.UG.FTS.B,

29.49%,

11/11/23

..

117

8

991159442.UG.FTS.B,

29.49%,

11/11/23

..

176

179

991163979.UG.FTS.B,

29.49%,

11/11/23

..

228

16

991167259.UG.FTS.B,

29.49%,

11/11/23

..

219

222

991168807.UG.FTS.B,

29.49%,

11/11/23

..

109

111

991170803.UG.FTS.B,

29.49%,

11/11/23

..

49

49

991176715.UG.FTS.B,

29.49%,

11/11/23

..

437

435

991177144.UG.FTS.B,

29.49%,

11/11/23

..

119

8

991179512.UG.FTS.B,

29.49%,

11/11/23

..

70

70

991183287.UG.FTS.B,

29.49%,

11/11/23

..

5

0

991183454.UG.FTS.B,

29.49%,

11/11/23

..

641

225

991183984.UG.FTS.B,

29.49%,

11/11/23

..

937

65

991193597.UG.FTS.B,

29.49%,

11/11/23

..

27

27

991195888.UG.FTS.B,

29.49%,

11/11/23

..

47

47

991196943.UG.FTS.B,

29.49%,

11/11/23

..

51

51

991198995.UG.FTS.B,

29.49%,

11/11/23

..

108

107

991199714.UG.FTS.B,

29.49%,

11/11/23

..

42

3

991202524.UG.FTS.B,

29.49%,

11/11/23

.

31

31

991202634.UG.FTS.B,

29.49%,

11/11/23

.

15

15

991208575.UG.FTS.B,

29.49%,

11/11/23

.

92

92

991214999.UG.FTS.B,

29.49%,

11/11/23

.

239

184

991072008.UG.FTS.B,

29.99%,

11/11/23

.

118

120

991179731.UG.FTS.B,

Zero

Cpn,

11/12/23

76

–

991183815.UG.FTS.B,

Zero

Cpn,

11/12/23

483

–

991216781.UG.FTS.B,

Zero

Cpn,

11/12/23

111

–

991217316.UG.FTS.B,

Zero

Cpn,

11/12/23

867

–

991157718.UG.FTS.B,

14.48%,

11/12/23

.

0

0

991037200.UG.FTS.B,

15.47%,

11/12/23

.

93

91

991192985.UG.FTS.B,

15.47%,

11/12/23

.

304

299

991039849.UG.FTS.B,

16.49%,

11/12/23

.

3,119

3,074

991155903.UG.FTS.B,

16.49%,

11/12/23

.

42

42

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

261

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991044320.UG.FTS.B,

17.47%,

11/12/23

.

$

145

$

142

991046834.UG.FTS.B,

17.49%,

11/12/23

.

205

202

991064030.UG.FTS.B,

17.49%,

11/12/23

.

104

103

991102699.UG.FTS.B,

17.49%,

11/12/23

.

47

47

991032019.UG.FTS.B,

18.47%,

11/12/23

.

123

121

991052836.UG.FTS.B,

18.47%,

11/12/23

.

903

889

991083038.UG.FTS.B,

18.47%,

11/12/23

.

108

106

991033709.UG.FTS.B,

18.71%,

11/12/23

.

350

344

991067044.UG.FTS.B,

18.71%,

11/12/23

.

106

104

991106285.UG.FTS.B,

18.71%,

11/12/23

.

397

107

991164132.UG.FTS.B,

18.71%,

11/12/23

.

278

272

991166276.UG.FTS.B,

18.71%,

11/12/23

.

3,261

3,205

991209547.UG.FTS.B,

18.71%,

11/12/23

.

–

–

991167442.UG.FTS.B,

19.3%,

11/12/23

..

328

323

991194722.UG.FTS.B,

19.3%,

11/12/23

..

79

78

991238989.UG.FTS.B,

19.3%,

11/12/23

..

640

629

991032260.UG.FTS.B,

19.96%,

11/12/23

.

74

72

991038385.UG.FTS.B,

19.96%,

11/12/23

.

–

–

991041583.UG.FTS.B,

19.96%,

11/12/23

.

2,381

1,702

991044473.UG.FTS.B,

19.96%,

11/12/23

.

566

555

991046611.UG.FTS.B,

19.96%,

11/12/23

.

112

109

991057526.UG.FTS.B,

19.96%,

11/12/23

.

43

42

991076003.UG.FTS.B,

19.96%,

11/12/23

.

247

242

991117233.UG.FTS.B,

19.96%,

11/12/23

..

63

62

991032115.UG.FTS.B,

20.47%,

11/12/23

.

28

28

991036276.UG.FTS.B,

20.47%,

11/12/23

.

4

0

991054625.UG.FTS.B,

20.47%,

11/12/23

.

994

971

991068914.UG.FTS.B,

20.47%,

11/12/23

.

144

141

991212215.UG.FTS.B,

20.47%,

11/12/23

.

64

62

991225200.UG.FTS.B,

20.47%,

11/12/23

.

138

135

991032833.UG.FTS.B,

20.96%,

11/12/23

.

124

121

991033388.UG.FTS.B,

20.96%,

11/12/23

.

–

–

991037989.UG.FTS.B,

20.96%,

11/12/23

.

41

40

991040451.UG.FTS.B,

20.96%,

11/12/23

.

780

765

991044922.UG.FTS.B,

20.96%,

11/12/23

.

269

264

991057439.UG.FTS.B,

20.96%,

11/12/23

.

82

80

991097180.UG.FTS.B,

20.96%,

11/12/23

.

10

10

991103998.UG.FTS.B,

20.96%,

11/12/23

.

13

13

991193860.UG.FTS.B,

20.96%,

11/12/23

.

5

5

991216384.UG.FTS.B,

20.96%,

11/12/23

.

74

73

991038933.UG.FTS.B,

21.47%,

11/12/23

.

35

35

991050471.UG.FTS.B,

21.47%,

11/12/23

.

202

14

991055737.UG.FTS.B,

21.47%,

11/12/23

.

188

13

991034570.UG.FTS.B,

21.48%,

11/12/23

.

690

676

991036635.UG.FTS.B,

21.48%,

11/12/23

.

2,108

2,064

991036961.UG.FTS.B,

21.48%,

11/12/23

.

1,505

1,469

991042940.UG.FTS.B,

21.48%,

11/12/23

.

135

133

991044826.UG.FTS.B,

21.48%,

11/12/23

.

600

588

991050253.UG.FTS.B,

21.48%,

11/12/23

.

208

204

991118068.UG.FTS.B,

21.48%,

11/12/23

..

78

77

991208952.UG.FTS.B,

21.48%,

11/12/23

.

73

71

991209108.UG.FTS.B,

21.48%,

11/12/23

.

350

24

991040200.UG.FTS.B,

22.45%,

11/12/23

.

611

599

991040207.UG.FTS.B,

22.47%,

11/12/23

.

1,338

1,309

991051469.UG.FTS.B,

22.47%,

11/12/23

.

79

78

991057444.UG.FTS.B,

22.47%,

11/12/23

.

9

9

991057519.UG.FTS.B,

22.47%,

11/12/23

.

157

20

991081258.UG.FTS.B,

22.47%,

11/12/23

.

–

–

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991139495.UG.FTS.B,

22.47%,

11/12/23

.

$

212

$

15

991042203.UG.FTS.B,

23.45%,

11/12/23

.

345

(12)

991054737.UG.FTS.B,

23.45%,

11/12/23

.

339

23

991180605.UG.FTS.B,

23.45%,

11/12/23

.

459

450

991204873.UG.FTS.B,

23.45%,

11/12/23

.

17

17

991038867.UG.FTS.B,

24.45%,

11/12/23

.

1,347

1,316

991036435.UG.FTS.B,

25.45%,

11/12/23

.

158

156

991195593.UG.FTS.B,

25.45%,

11/12/23

.

239

232

991204559.UG.FTS.B,

25.45%,

11/12/23

.

21

9

991113657.UG.FTS.B,

25.95%,

11/12/23

..

619

605

991038090.UG.FTS.B,

26.44%,

11/12/23

.

555

543

991038818.UG.FTS.B,

26.44%,

11/12/23

.

832

812

991039543.UG.FTS.B,

26.44%,

11/12/23

.

2,017

1,968

991040642.UG.FTS.B,

26.44%,

11/12/23

.

312

304

991051233.UG.FTS.B,

26.94%,

11/12/23

.

64

62

991038233.UG.FTS.B,

Zero

Cpn,

11/13/23

1,804

125

991054272.UG.FTS.B,

Zero

Cpn,

11/13/23

1,553

–

991083663.UG.FTS.B,

Zero

Cpn,

11/13/23

1,835

–

991078436.UG.FTS.B,

18.47%,

11/13/23

.

309

0

991089021.UG.FTS.B,

18.47%,

11/13/23

.

495

490

991099104.UG.FTS.B,

18.47%,

11/13/23

.

548

539

991118010.UG.FTS.B,

18.47%,

11/13/23

..

138

135

991166237.UG.FTS.B,

18.47%,

11/13/23

.

31

30

991183406.UG.FTS.B,

18.47%,

11/13/23

.

554

545

991046688.UG.FTS.B,

18.71%,

11/13/23

.

271

266

991073274.UG.FTS.B,

18.71%,

11/13/23

.

372

364

991099235.UG.FTS.B,

18.71%,

11/13/23

.

20

20

991205571.UG.FTS.B,

18.96%,

11/13/23

.

204

200

991039066.UG.FTS.B,

19.3%,

11/13/23

..

213

209

991055488.UG.FTS.B,

19.3%,

11/13/23

..

284

279

991056261.UG.FTS.B,

19.3%,

11/13/23

..

255

251

991061641.UG.FTS.B,

19.3%,

11/13/23

..

22

22

991090653.UG.FTS.B,

19.3%,

11/13/23

..

201

197

991114269.UG.FTS.B,

19.3%,

11/13/23

...

73

72

991042571.UG.FTS.B,

19.96%,

11/13/23

.

114

112

991043180.UG.FTS.B,

19.96%,

11/13/23

.

736

724

991046521.UG.FTS.B,

19.96%,

11/13/23

.

257

253

991076363.UG.FTS.B,

19.96%,

11/13/23

.

10

10

991097060.UG.FTS.B,

19.96%,

11/13/23

.

212

210

991101652.UG.FTS.B,

19.96%,

11/13/23

.

142

140

991156351.UG.FTS.B,

19.96%,

11/13/23

.

135

133

991200271.UG.FTS.B,

19.96%,

11/13/23

.

309

302

991231605.UG.FTS.B,

19.96%,

11/13/23

.

325

78

991055896.UG.FTS.B,

20.47%,

11/13/23

.

601

435

991065795.UG.FTS.B,

20.47%,

11/13/23

.

158

155

991113763.UG.FTS.B,

20.47%,

11/13/23

..

245

240

991061724.UG.FTS.B,

20.96%,

11/13/23

.

373

366

991085322.UG.FTS.B,

20.96%,

11/13/23

.

303

297

991166046.UG.FTS.B,

20.96%,

11/13/23

.

90

(1)

991181660.UG.FTS.B,

20.96%,

11/13/23

.

22

22

991064779.UG.FTS.B,

21.48%,

11/13/23

.

0

0

991087789.UG.FTS.B,

21.48%,

11/13/23

.

75

73

991096115.UG.FTS.B,

21.48%,

11/13/23

.

548

547

991126787.UG.FTS.B,

21.48%,

11/13/23

.

0

0

991133714.UG.FTS.B,

21.48%,

11/13/23

.

117

30

991202145.UG.FTS.B,

21.48%,

11/13/23

.

700

682

991245781.UG.FTS.B,

21.48%,

11/13/23

.

368

359

991214313.UG.FTS.B,

22.45%,

11/13/23

.

214

208

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

262

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991038622.UG.FTS.B,

22.47%,

11/13/23

.

$

2

$

2

991058827.UG.FTS.B,

22.47%,

11/13/23

.

110

108

991062587.UG.FTS.B,

22.47%,

11/13/23

.

70

68

991166803.UG.FTS.B,

22.47%,

11/13/23

.

17

16

991167334.UG.FTS.B,

22.47%,

11/13/23

.

467

32

991172178.UG.FTS.B,

22.47%,

11/13/23

.

596

580

991177294.UG.FTS.B,

22.47%,

11/13/23

.

238

233

991195003.UG.FTS.B,

22.47%,

11/13/23

.

23

23

991220289.UG.FTS.B,

22.47%,

11/13/23

.

6

6

991231726.UG.FTS.B,

22.47%,

11/13/23

.

38

37

991238527.UG.FTS.B,

22.47%,

11/13/23

.

43

42

991050659.UG.FTS.B,

23.45%,

11/13/23

.

394

386

991071055.UG.FTS.B,

23.45%,

11/13/23

.

287

281

991139412.UG.FTS.B,

23.45%,

11/13/23

.

167

163

991142265.UG.FTS.B,

23.45%,

11/13/23

.

80

78

991179631.UG.FTS.B,

23.45%,

11/13/23

.

80

78

991042483.UG.FTS.B,

24.45%,

11/13/23

.

17

7

991176060.UG.FTS.B,

25.45%,

11/13/23

.

1,082

1,057

991180753.UG.FTS.B,

25.45%,

11/13/23

.

52

50

991063720.UG.FTS.B,

26.44%,

11/13/23

.

908

119

991087268.UG.FTS.B,

26.44%,

11/13/23

.

570

39

991222590.UG.FTS.B,

26.44%,

11/13/23

.

19

19

991194629.UG.FTS.B,

28.48%,

11/13/23

.

15

15

991100559.UG.FTS.B,

18.3%,

11/14/23

..

9

9

991128714.UG.FTS.B,

18.3%,

11/14/23

..

5

5

991057721.UG.FTS.B,

18.47%,

11/14/23

.

1,032

1,016

991063358.UG.FTS.B,

18.47%,

11/14/23

.

827

202

991215185.UG.FTS.B,

18.47%,

11/14/23

.

705

690

991226732.UG.FTS.B,

18.47%,

11/14/23

.

40

40

991063852.UG.FTS.B,

18.71%,

11/14/23

.

116

114

991107055.UG.FTS.B,

18.71%,

11/14/23

.

1,312

941

991062328.UG.FTS.B,

18.96%,

11/14/23

.

74

73

991047599.UG.FTS.B,

19.3%,

11/14/23

..

445

438

991058243.UG.FTS.B,

19.3%,

11/14/23

..

153

150

991101267.UG.FTS.B,

19.3%,

11/14/23

..

189

186

991182065.UG.FTS.B,

19.3%,

11/14/23

..

65

8

991232628.UG.FTS.B,

19.3%,

11/14/23

..

706

691

991047878.UG.FTS.B,

19.96%,

11/14/23

.

66

5

991050735.UG.FTS.B,

19.96%,

11/14/23

.

88

86

991055530.UG.FTS.B,

19.96%,

11/14/23

.

1,786

1,754

991056505.UG.FTS.B,

19.96%,

11/14/23

.

423

415

991063812.UG.FTS.B,

19.96%,

11/14/23

.

137

134

991071168.UG.FTS.B,

19.96%,

11/14/23

.

37

36

991085726.UG.FTS.B,

19.96%,

11/14/23

.

315

309

991088392.UG.FTS.B,

19.96%,

11/14/23

.

172

169

991096994.UG.FTS.B,

19.96%,

11/14/23

.

97

95

991112626.UG.FTS.B,

19.96%,

11/14/23

..

93

23

991150972.UG.FTS.B,

19.96%,

11/14/23

.

71

70

991098433.UG.FTS.B,

20.47%,

11/14/23

.

20

20

991197816.UG.FTS.B,

20.47%,

11/14/23

.

355

348

991050759.UG.FTS.B,

20.96%,

11/14/23

.

231

238

991057830.UG.FTS.B,

20.96%,

11/14/23

.

413

405

991070682.UG.FTS.B,

20.96%,

11/14/23

.

673

660

991171253.UG.FTS.B,

20.96%,

11/14/23

.

21

21

991211165.UG.FTS.B,

20.96%,

11/14/23

..

61

60

991065032.UG.FTS.B,

21.47%,

11/14/23

.

378

26

991090000.UG.FTS.B,

21.47%,

11/14/23

.

547

38

991046306.UG.FTS.B,

21.48%,

11/14/23

.

75

73

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991059221.UG.FTS.B,

21.48%,

11/14/23

.

$

143

$

140

991083025.UG.FTS.B,

21.48%,

11/14/23

.

150

146

991109171.UG.FTS.B,

21.48%,

11/14/23

.

663

646

991146862.UG.FTS.B,

21.48%,

11/14/23

.

24

24

991169194.UG.FTS.B,

21.48%,

11/14/23

.

143

140

991088508.UG.FTS.B,

22.45%,

11/14/23

.

528

518

991135531.UG.FTS.B,

22.45%,

11/14/23

.

652

637

991048200.UG.FTS.B,

22.47%,

11/14/23

.

130

32

991054197.UG.FTS.B,

22.47%,

11/14/23

.

–

–

991087169.UG.FTS.B,

22.47%,

11/14/23

.

188

23

991102269.UG.FTS.B,

22.47%,

11/14/23

.

359

351

991122294.UG.FTS.B,

22.47%,

11/14/23

.

–

–

991147539.UG.FTS.B,

22.47%,

11/14/23

.

0

0

991149000.UG.FTS.B,

22.47%,

11/14/23

.

286

280

991052481.UG.FTS.B,

23.45%,

11/14/23

.

140

33

991066592.UG.FTS.B,

23.45%,

11/14/23

.

161

158

991068030.UG.FTS.B,

23.45%,

11/14/23

.

58

57

991068323.UG.FTS.B,

23.45%,

11/14/23

.

79

10

991075640.UG.FTS.B,

23.45%,

11/14/23

.

329

323

991079287.UG.FTS.B,

23.45%,

11/14/23

.

181

177

991101560.UG.FTS.B,

23.45%,

11/14/23

.

382

375

991242620.UG.FTS.B,

23.45%,

11/14/23

.

7

7

991243117.UG.FTS.B,

23.45%,

11/14/23

.

81

79

991050823.UG.FTS.B,

24.45%,

11/14/23

.

45

44

991130158.UG.FTS.B,

25.44%,

11/14/23

.

38

38

991204642.UG.FTS.B,

25.45%,

11/14/23

.

64

62

991069896.UG.FTS.B,

26.44%,

11/14/23

.

19

19

991095911.UG.FTS.B,

26.44%,

11/14/23

.

208

203

991086919.UG.FTS.B,

Zero

Cpn,

11/15/23

200

–

991116202.UG.FTS.B,

Zero

Cpn,

11/15/23

1,316

91

991058861.UG.FTS.B,

18.3%,

11/15/23

..

980

965

991058196.UG.FTS.B,

18.47%,

11/15/23

.

284

279

991068387.UG.FTS.B,

18.47%,

11/15/23

.

156

155

991070898.UG.FTS.B,

18.71%,

11/15/23

.

0

0

991113942.UG.FTS.B,

18.71%,

11/15/23

..

197

194

991187403.UG.FTS.B,

18.71%,

11/15/23

.

76

75

991207887.UG.FTS.B,

18.71%,

11/15/23

.

141

140

991235183.UG.FTS.B,

18.71%,

11/15/23

.

29

29

991236065.UG.FTS.B,

18.71%,

11/15/23

.

112

110

991052249.UG.FTS.B,

19.3%,

11/15/23

..

0

0

991061483.UG.FTS.B,

19.3%,

11/15/23

..

497

489

991072063.UG.FTS.B,

19.3%,

11/15/23

..

146

144

991081725.UG.FTS.B,

19.3%,

11/15/23

..

204

200

991082581.UG.FTS.B,

19.3%,

11/15/23

..

489

482

991097769.UG.FTS.B,

19.3%,

11/15/23

..

103

101

991141838.UG.FTS.B,

19.3%,

11/15/23

..

711

699

991223494.UG.FTS.B,

19.3%,

11/15/23

..

71

69

991065357.UG.FTS.B,

19.96%,

11/15/23

.

146

143

991069036.UG.FTS.B,

19.96%,

11/15/23

.

449

442

991123238.UG.FTS.B,

19.96%,

11/15/23

.

101

99

991139766.UG.FTS.B,

19.96%,

11/15/23

.

190

187

991165015.UG.FTS.B,

19.96%,

11/15/23

.

0

0

991056483.UG.FTS.B,

20.47%,

11/15/23

.

77

75

991076551.UG.FTS.B,

20.47%,

11/15/23

.

332

81

991124607.UG.FTS.B,

20.47%,

11/15/23

.

454

446

991074564.UG.FTS.B,

20.96%,

11/15/23

.

323

317

991058367.UG.FTS.B,

21.47%,

11/15/23

.

126

124

991065383.UG.FTS.B,

21.47%,

11/15/23

.

53

4

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

263

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991052117.UG.FTS.B,

21.48%,

11/15/23

.

$

1,270

$

1,246

991058895.UG.FTS.B,

21.48%,

11/15/23

.

0

0

991072712.UG.FTS.B,

21.48%,

11/15/23

.

147

144

991091631.UG.FTS.B,

21.48%,

11/15/23

.

172

169

991096653.UG.FTS.B,

21.48%,

11/15/23

.

67

66

991110446.UG.FTS.B,

21.48%,

11/15/23

..

166

(2)

991110811.UG.FTS.B,

21.48%,

11/15/23

..

82

81

991144815.UG.FTS.B,

21.48%,

11/15/23

.

95

93

991197316.UG.FTS.B,

21.48%,

11/15/23

.

142

140

991204261.UG.FTS.B,

21.48%,

11/15/23

.

58

58

991196653.UG.FTS.B,

22.45%,

11/15/23

.

165

12

991057370.UG.FTS.B,

22.47%,

11/15/23

.

700

687

991061050.UG.FTS.B,

22.47%,

11/15/23

.

216

212

991152701.UG.FTS.B,

22.47%,

11/15/23

.

832

814

991176428.UG.FTS.B,

22.47%,

11/15/23

.

302

73

991190016.UG.FTS.B,

22.47%,

11/15/23

.

41

40

991234176.UG.FTS.B,

22.47%,

11/15/23

.

620

604

991235548.UG.FTS.B,

22.47%,

11/15/23

.

77

75

991055836.UG.FTS.B,

23.45%,

11/15/23

.

62

61

991056017.UG.FTS.B,

23.45%,

11/15/23

.

83

82

991063334.UG.FTS.B,

23.45%,

11/15/23

.

22

21

991065945.UG.FTS.B,

23.45%,

11/15/23

.

65

64

991078707.UG.FTS.B,

23.45%,

11/15/23

.

124

121

991081650.UG.FTS.B,

23.45%,

11/15/23

.

61

59

991084017.UG.FTS.B,

23.45%,

11/15/23

.

303

296

991113775.UG.FTS.B,

23.45%,

11/15/23

..

33

33

991114708.UG.FTS.B,

23.45%,

11/15/23

..

170

39

991132951.UG.FTS.B,

23.45%,

11/15/23

.

285

279

991064072.UG.FTS.B,

24.45%,

11/15/23

.

82

11

991070539.UG.FTS.B,

24.45%,

11/15/23

.

6

6

991083327.UG.FTS.B,

24.45%,

11/15/23

.

43

43

991191200.UG.FTS.B,

25.44%,

11/15/23

.

278

271

991057953.UG.FTS.B,

25.45%,

11/15/23

.

420

411

991066825.UG.FTS.B,

25.45%,

11/15/23

.

453

446

991068436.UG.FTS.B,

25.45%,

11/15/23

.

798

780

991103133.UG.FTS.B,

25.45%,

11/15/23

.

159

154

991130854.UG.FTS.B,

25.45%,

11/15/23

.

125

121

991178382.UG.FTS.B,

25.45%,

11/15/23

.

87

6

991235565.UG.FTS.B,

25.45%,

11/15/23

.

12

12

991240186.UG.FTS.B,

25.45%,

11/15/23

.

51

50

991059246.UG.FTS.B,

26.44%,

11/15/23

.

467

456

991067989.UG.FTS.B,

26.44%,

11/15/23

.

925

(29)

991070986.UG.FTS.B,

26.44%,

11/15/23

.

111

109

991091929.UG.FTS.B,

26.44%,

11/15/23

.

11

10

991131404.UG.FTS.B,

26.44%,

11/15/23

.

260

18

991140991.UG.FTS.B,

26.44%,

11/15/23

.

1,234

1,206

991220103.UG.FTS.B,

18.47%,

11/16/23

.

101

7

991130347.UG.FTS.B,

18.71%,

11/16/23

.

190

13

991060229.UG.FTS.B,

19.96%,

11/16/23

.

160

157

991264229.UG.FTS.B,

19.96%,

11/16/23

.

508

497

991092109.UG.FTS.B,

19.99%,

11/16/23

.

135

134

991099523.UG.FTS.B,

23.45%,

11/16/23

.

426

418

991258705.UG.FTS.B,

23.45%,

11/16/23

.

55

54

991114561.UG.FTS.B,

25.45%,

11/16/23

..

53

52

991179329.UG.FTS.B,

25.45%,

11/16/23

.

31

31

991068488.UG.FTS.B,

26.44%,

11/16/23

.

69

68

991111612.UG.FTS.B,

27.99%,

11/16/23

..

82

82

991067085.UG.FTS.B,

28.48%,

11/16/23

.

526

520

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991124268.UG.FTS.B,

28.48%,

11/16/23

.

$

–

$

–

991202748.UG.FTS.B,

28.48%,

11/16/23

.

38

6

991240822.UG.FTS.B,

28.48%,

11/16/23

.

99

97

991262392.UG.FTS.B,

28.48%,

11/16/23

.

26

25

991062507.UG.FTS.B,

29.45%,

11/16/23

.

343

339

991085849.UG.FTS.B,

29.48%,

11/16/23

.

298

297

991143371.UG.FTS.B,

29.48%,

11/16/23

.

319

314

991226306.UG.FTS.B,

29.48%,

11/16/23

.

130

18

991060063.UG.FTS.B,

29.49%,

11/16/23

.

95

94

991060262.UG.FTS.B,

29.49%,

11/16/23

.

81

81

991063661.UG.FTS.B,

29.49%,

11/16/23

.

136

134

991068933.UG.FTS.B,

29.49%,

11/16/23

.

85

84

991069391.UG.FTS.B,

29.49%,

11/16/23

.

88

87

991086719.UG.FTS.B,

29.49%,

11/16/23

.

29

29

991088293.UG.FTS.B,

29.49%,

11/16/23

.

7

7

991091817.UG.FTS.B,

29.49%,

11/16/23

.

1,141

1,129

991096181.UG.FTS.B,

29.49%,

11/16/23

.

224

171

991100362.UG.FTS.B,

29.49%,

11/16/23

.

149

147

991114535.UG.FTS.B,

29.49%,

11/16/23

..

57

(2)

991154821.UG.FTS.B,

29.49%,

11/16/23

.

0

0

991155578.UG.FTS.B,

29.49%,

11/16/23

.

–

–

991185464.UG.FTS.B,

29.49%,

11/16/23

.

461

359

991185958.UG.FTS.B,

29.49%,

11/16/23

.

21

20

991186104.UG.FTS.B,

29.49%,

11/16/23

.

79

(3)

991205767.UG.FTS.B,

29.49%,

11/16/23

.

96

94

991234204.UG.FTS.B,

29.49%,

11/16/23

.

582

571

991265924.UG.FTS.B,

29.49%,

11/16/23

.

152

150

991084534.UG.FTS.B,

Zero

Cpn,

11/17/23

139

9

991246241.UG.FTS.B,

18.71%,

11/17/23

.

195

14

991067548.UG.FTS.B,

19.3%,

11/17/23

..

80

79

991065584.UG.FTS.B,

19.47%,

11/17/23

.

342

336

991077777.UG.FTS.B,

19.96%,

11/17/23

.

89

88

991084681.UG.FTS.B,

20.47%,

11/17/23

.

60

59

991125001.UG.FTS.B,

20.47%,

11/17/23

.

71

70

991140965.UG.FTS.B,

20.47%,

11/17/23

.

134

132

991168609.UG.FTS.B,

20.47%,

11/17/23

.

392

385

991242622.UG.FTS.B,

20.47%,

11/17/23

.

171

167

991154647.UG.FTS.B,

21.48%,

11/17/23

.

62

61

991209560.UG.FTS.B,

21.48%,

11/17/23

.

105

103

991216048.UG.FTS.B,

21.48%,

11/17/23

.

60

59

991081293.UG.FTS.B,

22.45%,

11/17/23

.

196

192

991072583.UG.FTS.B,

22.47%,

11/17/23

.

235

16

991099253.UG.FTS.B,

22.47%,

11/17/23

.

48

47

991113027.UG.FTS.B,

22.47%,

11/17/23

..

437

428

991177566.UG.FTS.B,

22.47%,

11/17/23

.

215

210

991071141.UG.FTS.B,

23.45%,

11/17/23

.

79

77

991204617.UG.FTS.B,

23.45%,

11/17/23

.

625

613

991224707.UG.FTS.B,

23.45%,

11/17/23

.

491

478

991144405.UG.FTS.B,

24.45%,

11/17/23

.

100

(5)

991240022.UG.FTS.B,

24.45%,

11/17/23

.

275

268

991099774.UG.FTS.B,

25.45%,

11/17/23

.

70

68

991091492.UG.FTS.B,

26.44%,

11/17/23

.

132

9

991188252.UG.FTS.B,

26.44%,

11/17/23

.

26

25

991269381.UG.FTS.B,

26.44%,

11/17/23

.

1,279

1,245

991064383.UG.FTS.B,

28.48%,

11/17/23

.

116

115

991067743.UG.FTS.B,

28.48%,

11/17/23

.

120

119

991071964.UG.FTS.B,

28.48%,

11/17/23

.

90

89

991075400.UG.FTS.B,

28.48%,

11/17/23

.

107

106

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

264

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991081467.UG.FTS.B,

28.48%,

11/17/23

.

$

730

$

716

991111183.UG.FTS.B,

28.48%,

11/17/23

..

79

79

991129990.UG.FTS.B,

28.48%,

11/17/23

.

158

21

991260132.UG.FTS.B,

28.48%,

11/17/23

.

299

293

991065018.UG.FTS.B,

29.48%,

11/17/23

.

120

119

991076428.UG.FTS.B,

29.48%,

11/17/23

.

138

135

991133637.UG.FTS.B,

29.48%,

11/17/23

.

138

9

991230240.UG.FTS.B,

29.48%,

11/17/23

.

80

79

991267853.UG.FTS.B,

29.48%,

11/17/23

.

48

47

991064480.UG.FTS.B,

29.49%,

11/17/23

.

1,514

1,505

991067845.UG.FTS.B,

29.49%,

11/17/23

.

61

61

991068051.UG.FTS.B,

29.49%,

11/17/23

.

41

41

991068636.UG.FTS.B,

29.49%,

11/17/23

.

326

320

991077432.UG.FTS.B,

29.49%,

11/17/23

.

109

108

991077580.UG.FTS.B,

29.49%,

11/17/23

.

97

96

991078472.UG.FTS.B,

29.49%,

11/17/23

.

165

163

991085192.UG.FTS.B,

29.49%,

11/17/23

.

302

(3)

991089483.UG.FTS.B,

29.49%,

11/17/23

.

193

193

991090401.UG.FTS.B,

29.49%,

11/17/23

.

–

–

991101090.UG.FTS.B,

29.49%,

11/17/23

.

79

6

991102968.UG.FTS.B,

29.49%,

11/17/23

.

691

51

991115678.UG.FTS.B,

29.49%,

11/17/23

..

12

12

991150434.UG.FTS.B,

29.49%,

11/17/23

.

89

89

991151747.UG.FTS.B,

29.49%,

11/17/23

.

71

70

991160822.UG.FTS.B,

29.49%,

11/17/23

.

237

233

991164420.UG.FTS.B,

29.49%,

11/17/23

.

55

54

991191061.UG.FTS.B,

29.49%,

11/17/23

.

159

12

991218773.UG.FTS.B,

29.49%,

11/17/23

.

472

33

991255106.UG.FTS.B,

29.49%,

11/17/23

.

65

64

991259011.UG.FTS.B,

29.49%,

11/17/23

.

11

11

991262170.UG.FTS.B,

29.49%,

11/17/23

.

177

12

991266281.UG.FTS.B,

29.49%,

11/17/23

.

143

101

991269502.UG.FTS.B,

29.49%,

11/17/23

.

362

355

991269645.UG.FTS.B,

29.49%,

11/17/23

.

333

322

991075757.UG.FTS.B,

Zero

Cpn,

11/18/23

75

5

991078845.UG.FTS.B,

Zero

Cpn,

11/18/23

307

–

991082563.UG.FTS.B,

Zero

Cpn,

11/18/23

264

–

991093726.UG.FTS.B,

Zero

Cpn,

11/18/23

150

10

991117041.UG.FTS.B,

Zero

Cpn,

11/18/23

1,007

–

991070223.UG.FTS.B,

18.47%,

11/18/23

.

473

465

991075196.UG.FTS.B,

18.71%,

11/18/23

.

267

262

991092270.UG.FTS.B,

18.71%,

11/18/23

.

782

162

991118229.UG.FTS.B,

18.71%,

11/18/23

..

125

123

991262395.UG.FTS.B,

18.71%,

11/18/23

.

235

230

991076172.UG.FTS.B,

19.3%,

11/18/23

..

111

110

991080254.UG.FTS.B,

19.3%,

11/18/23

..

77

76

991091205.UG.FTS.B,

19.3%,

11/18/23

..

83

82

991081999.UG.FTS.B,

19.96%,

11/18/23

.

308

303

991085336.UG.FTS.B,

19.96%,

11/18/23

.

288

284

991085802.UG.FTS.B,

19.96%,

11/18/23

.

892

878

991090911.UG.FTS.B,

19.96%,

11/18/23

.

119

117

991096448.UG.FTS.B,

19.96%,

11/18/23

.

694

683

991118401.UG.FTS.B,

19.96%,

11/18/23

..

205

24

991128359.UG.FTS.B,

19.96%,

11/18/23

.

1,415

1,392

991145533.UG.FTS.B,

19.96%,

11/18/23

.

164

161

991271010.UG.FTS.B,

19.99%,

11/18/23

.

272

269

991073718.UG.FTS.B,

20.47%,

11/18/23

.

407

401

991093143.UG.FTS.B,

20.47%,

11/18/23

.

351

345

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991132272.UG.FTS.B,

20.47%,

11/18/23

.

$

155

$

152

991087895.UG.FTS.B,

20.96%,

11/18/23

.

301

296

991129310.UG.FTS.B,

20.96%,

11/18/23

.

73

71

991179092.UG.FTS.B,

21.47%,

11/18/23

.

0

0

991096770.UG.FTS.B,

21.48%,

11/18/23

.

159

156

991157174.UG.FTS.B,

21.48%,

11/18/23

.

36

36

991167183.UG.FTS.B,

21.48%,

11/18/23

.

501

491

991269600.UG.FTS.B,

21.48%,

11/18/23

.

69

68

991087743.UG.FTS.B,

22.45%,

11/18/23

.

647

634

991083198.UG.FTS.B,

22.47%,

11/18/23

.

200

196

991087440.UG.FTS.B,

22.47%,

11/18/23

.

1,039

(14)

991098933.UG.FTS.B,

22.47%,

11/18/23

.

171

121

991106955.UG.FTS.B,

22.47%,

11/18/23

.

400

390

991249961.UG.FTS.B,

22.47%,

11/18/23

.

55

54

991123415.UG.FTS.B,

23.45%,

11/18/23

.

98

95

991246091.UG.FTS.B,

23.45%,

11/18/23

.

105

102

991087138.UG.FTS.B,

25.45%,

11/18/23

.

188

184

991105579.UG.FTS.B,

27.99%,

11/18/23

.

160

159

991077938.UG.FTS.B,

28.48%,

11/18/23

.

48

48

991101152.UG.FTS.B,

28.48%,

11/18/23

..

169

169

991112752.UG.FTS.B,

28.48%,

11/18/23

..

153

152

991130012.UG.FTS.B,

28.48%,

11/18/23

.

146

146

991154554.UG.FTS.B,

28.48%,

11/18/23

.

134

132

991179069.UG.FTS.B,

28.48%,

11/18/23

.

248

243

991220441.UG.FTS.B,

28.48%,

11/18/23

.

335

330

991266796.UG.FTS.B,

28.48%,

11/18/23

.

2

2

991284667.UG.FTS.B,

28.48%,

11/18/23

.

9

9

991103157.UG.FTS.B,

29.48%,

11/18/23

.

174

(3)

991159161.UG.FTS.B,

29.48%,

11/18/23

.

29

29

991192524.UG.FTS.B,

29.48%,

11/18/23

.

173

172

991205108.UG.FTS.B,

29.48%,

11/18/23

.

188

185

991242497.UG.FTS.B,

29.48%,

11/18/23

.

1,138

1,120

991069242.UG.FTS.B,

29.49%,

11/18/23

.

36

35

991069907.UG.FTS.B,

29.49%,

11/18/23

.

93

92

991070597.UG.FTS.B,

29.49%,

11/18/23

.

19

19

991075574.UG.FTS.B,

29.49%,

11/18/23

.

54

53

991076135.UG.FTS.B,

29.49%,

11/18/23

.

86

12

991081922.UG.FTS.B,

29.49%,

11/18/23

.

138

137

991082389.UG.FTS.B,

29.49%,

11/18/23

.

119

118

991086090.UG.FTS.B,

29.49%,

11/18/23

.

116

114

991088166.UG.FTS.B,

29.49%,

11/18/23

.

115

114

991089044.UG.FTS.B,

29.49%,

11/18/23

.

79

77

991096973.UG.FTS.B,

29.49%,

11/18/23

.

103

102

991099051.UG.FTS.B,

29.49%,

11/18/23

.

6

6

991103187.UG.FTS.B,

29.49%,

11/18/23

.

20

20

991103540.UG.FTS.B,

29.49%,

11/18/23

.

18

18

991103603.UG.FTS.B,

29.49%,

11/18/23

.

403

400

991105871.UG.FTS.B,

29.49%,

11/18/23

.

333

23

991109166.UG.FTS.B,

29.49%,

11/18/23

.

325

323

991110887.UG.FTS.B,

29.49%,

11/18/23

..

1,207

1,201

991115249.UG.FTS.B,

29.49%,

11/18/23

..

41

41

991116348.UG.FTS.B,

29.49%,

11/18/23

..

179

178

991121891.UG.FTS.B,

29.49%,

11/18/23

.

56

56

991143152.UG.FTS.B,

29.49%,

11/18/23

.

403

396

991151526.UG.FTS.B,

29.49%,

11/18/23

.

217

213

991154556.UG.FTS.B,

29.49%,

11/18/23

.

0

0

991157941.UG.FTS.B,

29.49%,

11/18/23

.

37

36

991170560.UG.FTS.B,

29.49%,

11/18/23

.

20

20

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

265

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991187743.UG.FTS.B,

29.49%,

11/18/23

.

$

11

$

11

991208660.UG.FTS.B,

29.49%,

11/18/23

.

243

239

991220964.UG.FTS.B,

29.49%,

11/18/23

.

36

35

991226769.UG.FTS.B,

29.49%,

11/18/23

.

196

27

991227515.UG.FTS.B,

29.49%,

11/18/23

.

302

(6)

991241225.UG.FTS.B,

29.49%,

11/18/23

.

86

12

991244087.UG.FTS.B,

29.49%,

11/18/23

.

141

139

991245155.UG.FTS.B,

29.49%,

11/18/23

.

15

15

991250342.UG.FTS.B,

29.49%,

11/18/23

.

52

(3)

991255596.UG.FTS.B,

29.49%,

11/18/23

.

145

10

991259629.UG.FTS.B,

29.49%,

11/18/23

.

173

170

991264523.UG.FTS.B,

29.49%,

11/18/23

.

20

20

991267143.UG.FTS.B,

29.49%,

11/18/23

.

2,069

2,025

991268812.UG.FTS.B,

29.49%,

11/18/23

.

93

6

991268887.UG.FTS.B,

29.49%,

11/18/23

.

159

157

991269095.UG.FTS.B,

29.49%,

11/18/23

.

217

213

991269243.UG.FTS.B,

29.49%,

11/18/23

.

87

85

991273696.UG.FTS.B,

29.49%,

11/18/23

.

69

67

991276503.UG.FTS.B,

29.49%,

11/18/23

.

76

74

991277429.UG.FTS.B,

29.49%,

11/18/23

.

72

71

991282251.UG.FTS.B,

29.49%,

11/18/23

.

3

3

991084679.UG.FTS.B,

Zero

Cpn,

11/19/23

494

–

991103170.UG.FTS.B,

Zero

Cpn,

11/19/23

198

–

991121014.UG.FTS.B,

Zero

Cpn,

11/19/23

65

–

991121585.UG.FTS.B,

Zero

Cpn,

11/19/23

1,533

–

991122534.UG.FTS.B,

Zero

Cpn,

11/19/23

491

–

991125967.UG.FTS.B,

Zero

Cpn,

11/19/23

74

–

991131966.UG.FTS.B,

Zero

Cpn,

11/19/23

56

–

991133060.UG.FTS.B,

Zero

Cpn,

11/19/23

799

54

991134689.UG.FTS.B,

Zero

Cpn,

11/19/23

300

–

991134696.UG.FTS.B,

Zero

Cpn,

11/19/23

226

–

991201548.UG.FTS.B,

Zero

Cpn,

11/19/23

371

–

991210582.UG.FTS.B,

Zero

Cpn,

11/19/23

95

–

991270252.UG.FTS.B,

Zero

Cpn,

11/19/23

31

–

991279045.UG.FTS.B,

Zero

Cpn,

11/19/23

337

–

991133644.UG.FTS.B,

18.47%,

11/19/23

.

632

622

991136963.UG.FTS.B,

18.47%,

11/19/23

.

243

239

991173918.UG.FTS.B,

18.47%,

11/19/23

.

37

37

991081404.UG.FTS.B,

18.71%,

11/19/23

.

428

421

991104977.UG.FTS.B,

18.71%,

11/19/23

.

90

89

991216535.UG.FTS.B,

18.71%,

11/19/23

.

14

14

991087297.UG.FTS.B,

19.3%,

11/19/23

..

1,073

1,056

991101241.UG.FTS.B,

19.3%,

11/19/23

..

521

66

991112759.UG.FTS.B,

19.3%,

11/19/23

...

277

272

991083060.UG.FTS.B,

19.96%,

11/19/23

.

187

184

991094352.UG.FTS.B,

19.96%,

11/19/23

.

172

169

991212907.UG.FTS.B,

19.96%,

11/19/23

.

92

91

991137081.UG.FTS.B,

19.99%,

11/19/23

.

239

237

991147851.UG.FTS.B,

19.99%,

11/19/23

.

19

18

991173819.UG.FTS.B,

19.99%,

11/19/23

.

76

74

991237410.UG.FTS.B,

19.99%,

11/19/23

.

5

5

991116240.UG.FTS.B,

20.47%,

11/19/23

..

41

41

991167601.UG.FTS.B,

20.47%,

11/19/23

.

1,626

1,599

991218561.UG.FTS.B,

20.47%,

11/19/23

.

85

84

991079011.UG.FTS.B,

20.48%,

11/19/23

.

91

89

991086525.UG.FTS.B,

20.96%,

11/19/23

.

77

75

991105587.UG.FTS.B,

20.96%,

11/19/23

.

107

105

991277289.UG.FTS.B,

20.96%,

11/19/23

.

3,255

3,183

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991100356.UG.FTS.B,

21.47%,

11/19/23

.

$

401

$

393

991099366.UG.FTS.B,

21.48%,

11/19/23

.

92

90

991147323.UG.FTS.B,

21.48%,

11/19/23

.

64

63

991165592.UG.FTS.B,

21.48%,

11/19/23

.

920

898

991219801.UG.FTS.B,

21.48%,

11/19/23

.

87

85

991099400.UG.FTS.B,

22.47%,

11/19/23

.

306

300

991102793.UG.FTS.B,

22.47%,

11/19/23

.

163

160

991110963.UG.FTS.B,

22.47%,

11/19/23

..

397

389

991113770.UG.FTS.B,

22.47%,

11/19/23

..

332

43

991252484.UG.FTS.B,

22.47%,

11/19/23

.

158

154

991284295.UG.FTS.B,

22.47%,

11/19/23

.

31

30

991218588.UG.FTS.B,

23.45%,

11/19/23

.

71

5

991273797.UG.FTS.B,

23.45%,

11/19/23

.

23

23

991083178.UG.FTS.B,

25.44%,

11/19/23

.

41

41

991164748.UG.FTS.B,

25.45%,

11/19/23

.

52

51

991172949.UG.FTS.B,

25.45%,

11/19/23

.

50

49

991253581.UG.FTS.B,

25.45%,

11/19/23

.

79

77

991078173.UG.FTS.B,

26.44%,

11/19/23

.

255

18

991079189.UG.FTS.B,

27.99%,

11/19/23

.

14

14

991078257.UG.FTS.B,

28.48%,

11/19/23

.

105

103

991079335.UG.FTS.B,

28.48%,

11/19/23

.

0

0

991079765.UG.FTS.B,

28.48%,

11/19/23

.

75

75

991081496.UG.FTS.B,

28.48%,

11/19/23

.

477

475

991081598.UG.FTS.B,

28.48%,

11/19/23

.

2,332

316

991083782.UG.FTS.B,

28.48%,

11/19/23

.

88

88

991086939.UG.FTS.B,

28.48%,

11/19/23

.

221

220

991087643.UG.FTS.B,

28.48%,

11/19/23

.

14

14

991088623.UG.FTS.B,

28.48%,

11/19/23

.

165

165

991091884.UG.FTS.B,

28.48%,

11/19/23

.

38

38

991096265.UG.FTS.B,

28.48%,

11/19/23

.

110

110

991097252.UG.FTS.B,

28.48%,

11/19/23

.

25

25

991098785.UG.FTS.B,

28.48%,

11/19/23

.

216

215

991098885.UG.FTS.B,

28.48%,

11/19/23

.

19

19

991103315.UG.FTS.B,

28.48%,

11/19/23

.

102

100

991103375.UG.FTS.B,

28.48%,

11/19/23

.

94

93

991104461.UG.FTS.B,

28.48%,

11/19/23

.

317

314

991107749.UG.FTS.B,

28.48%,

11/19/23

.

127

126

991110704.UG.FTS.B,

28.48%,

11/19/23

..

115

113

991135238.UG.FTS.B,

28.48%,

11/19/23

.

1,101

1,097

991161650.UG.FTS.B,

28.48%,

11/19/23

.

343

342

991170734.UG.FTS.B,

28.48%,

11/19/23

.

40

40

991174611.UG.FTS.B,

28.48%,

11/19/23

..

762

750

991184553.UG.FTS.B,

28.48%,

11/19/23

.

176

128

991200531.UG.FTS.B,

28.48%,

11/19/23

.

63

63

991200657.UG.FTS.B,

28.48%,

11/19/23

.

20

1

991200969.UG.FTS.B,

28.48%,

11/19/23

.

294

290

991223308.UG.FTS.B,

28.48%,

11/19/23

.

216

216

991249737.UG.FTS.B,

28.48%,

11/19/23

.

108

106

991266849.UG.FTS.B,

28.48%,

11/19/23

.

362

356

991081689.UG.FTS.B,

29.48%,

11/19/23

.

118

117

991089034.UG.FTS.B,

29.48%,

11/19/23

.

70

69

991098237.UG.FTS.B,

29.48%,

11/19/23

.

377

376

991100219.UG.FTS.B,

29.48%,

11/19/23

.

105

15

991126072.UG.FTS.B,

29.48%,

11/19/23

.

384

381

991129061.UG.FTS.B,

29.48%,

11/19/23

.

1,196

1,188

991133197.UG.FTS.B,

29.48%,

11/19/23

.

99

97

991133221.UG.FTS.B,

29.48%,

11/19/23

.

54

4

991138545.UG.FTS.B,

29.48%,

11/19/23

.

30

30

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

266

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991170083.UG.FTS.B,

29.48%,

11/19/23

.

$

2,933

$

2,901

991195570.UG.FTS.B,

29.48%,

11/19/23

.

21

21

991199919.UG.FTS.B,

29.48%,

11/19/23

.

456

454

991288937.UG.FTS.B,

29.48%,

11/19/23

.

7

7

991077741.UG.FTS.B,

29.49%,

11/19/23

.

66

66

991078366.UG.FTS.B,

29.49%,

11/19/23

.

114

114

991078431.UG.FTS.B,

29.49%,

11/19/23

.

27

27

991078478.UG.FTS.B,

29.49%,

11/19/23

.

203

202

991079375.UG.FTS.B,

29.49%,

11/19/23

.

524

522

991079528.UG.FTS.B,

29.49%,

11/19/23

.

166

23

991079802.UG.FTS.B,

29.49%,

11/19/23

.

0

0

991080354.UG.FTS.B,

29.49%,

11/19/23

.

72

72

991080403.UG.FTS.B,

29.49%,

11/19/23

.

916

682

991081437.UG.FTS.B,

29.49%,

11/19/23

.

29

29

991081475.UG.FTS.B,

29.49%,

11/19/23

.

12

11

991081845.UG.FTS.B,

29.49%,

11/19/23

.

228

227

991081885.UG.FTS.B,

29.49%,

11/19/23

.

99

99

991082217.UG.FTS.B,

29.49%,

11/19/23

.

118

117

991082809.UG.FTS.B,

29.49%,

11/19/23

.

1

1

991083535.UG.FTS.B,

29.49%,

11/19/23

.

271

20

991084253.UG.FTS.B,

29.49%,

11/19/23

.

94

93

991086896.UG.FTS.B,

29.49%,

11/19/23

.

36

35

991087619.UG.FTS.B,

29.49%,

11/19/23

.

143

142

991087665.UG.FTS.B,

29.49%,

11/19/23

.

82

81

991089012.UG.FTS.B,

29.49%,

11/19/23

.

–

–

991089942.UG.FTS.B,

29.49%,

11/19/23

.

204

199

991090577.UG.FTS.B,

29.49%,

11/19/23

.

35

34

991091528.UG.FTS.B,

29.49%,

11/19/23

.

375

372

991092786.UG.FTS.B,

29.49%,

11/19/23

.

224

16

991092874.UG.FTS.B,

29.49%,

11/19/23

.

4

4

991092913.UG.FTS.B,

29.49%,

11/19/23

.

126

125

991093594.UG.FTS.B,

29.49%,

11/19/23

.

879

60

991093745.UG.FTS.B,

29.49%,

11/19/23

.

405

403

991097032.UG.FTS.B,

29.49%,

11/19/23

.

152

151

991097105.UG.FTS.B,

29.49%,

11/19/23

.

–

–

991097463.UG.FTS.B,

29.49%,

11/19/23

.

0

0

991097616.UG.FTS.B,

29.49%,

11/19/23

.

13

13

991098151.UG.FTS.B,

29.49%,

11/19/23

.

122

9

991098698.UG.FTS.B,

29.49%,

11/19/23

.

28

27

991099109.UG.FTS.B,

29.49%,

11/19/23

.

75

75

991099352.UG.FTS.B,

29.49%,

11/19/23

.

246

19

991099377.UG.FTS.B,

29.49%,

11/19/23

.

18

18

991099919.UG.FTS.B,

29.49%,

11/19/23

.

168

166

991099977.UG.FTS.B,

29.49%,

11/19/23

.

160

158

991103266.UG.FTS.B,

29.49%,

11/19/23

.

176

174

991105932.UG.FTS.B,

29.49%,

11/19/23

.

102

100

991106030.UG.FTS.B,

29.49%,

11/19/23

.

137

19

991106727.UG.FTS.B,

29.49%,

11/19/23

.

171

14

991106881.UG.FTS.B,

29.49%,

11/19/23

.

85

84

991107613.UG.FTS.B,

29.49%,

11/19/23

.

34

33

991108107.UG.FTS.B,

29.49%,

11/19/23

.

79

78

991108547.UG.FTS.B,

29.49%,

11/19/23

.

129

127

991108792.UG.FTS.B,

29.49%,

11/19/23

.

167

166

991108928.UG.FTS.B,

29.49%,

11/19/23

.

12

12

991109156.UG.FTS.B,

29.49%,

11/19/23

.

22

22

991110749.UG.FTS.B,

29.49%,

11/19/23

..

30

29

991111004.UG.FTS.B,

29.49%,

11/19/23

..

36

35

991111730.UG.FTS.B,

29.49%,

11/19/23

..

109

108

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991112305.UG.FTS.B,

29.49%,

11/19/23

..

$

113

$

111

991112344.UG.FTS.B,

29.49%,

11/19/23

..

33

33

991113013.UG.FTS.B,

29.49%,

11/19/23

..

65

64

991113074.UG.FTS.B,

29.49%,

11/19/23

..

326

322

991113641.UG.FTS.B,

29.49%,

11/19/23

..

111

16

991113771.UG.FTS.B,

29.49%,

11/19/23

..

120

119

991113927.UG.FTS.B,

29.49%,

11/19/23

..

125

9

991113946.UG.FTS.B,

29.49%,

11/19/23

..

97

7

991114740.UG.FTS.B,

29.49%,

11/19/23

..

20

20

991114770.UG.FTS.B,

29.49%,

11/19/23

..

25

25

991114896.UG.FTS.B,

29.49%,

11/19/23

..

18

18

991115413.UG.FTS.B,

29.49%,

11/19/23

..

85

84

991115442.UG.FTS.B,

29.49%,

11/19/23

..

91

90

991116343.UG.FTS.B,

29.49%,

11/19/23

..

218

217

991116514.UG.FTS.B,

29.49%,

11/19/23

..

85

85

991116622.UG.FTS.B,

29.49%,

11/19/23

..

66

5

991117856.UG.FTS.B,

29.49%,

11/19/23

..

459

31

991117953.UG.FTS.B,

29.49%,

11/19/23

..

413

28

991118360.UG.FTS.B,

29.49%,

11/19/23

..

295

294

991121031.UG.FTS.B,

29.49%,

11/19/23

.

28

27

991121503.UG.FTS.B,

29.49%,

11/19/23

.

43

42

991121902.UG.FTS.B,

29.49%,

11/19/23

.

251

17

991122460.UG.FTS.B,

29.49%,

11/19/23

.

812

807

991125436.UG.FTS.B,

29.49%,

11/19/23

.

91

90

991125621.UG.FTS.B,

29.49%,

11/19/23

.

104

104

991127756.UG.FTS.B,

29.49%,

11/19/23

.

119

117

991128392.UG.FTS.B,

29.49%,

11/19/23

.

73

72

991128993.UG.FTS.B,

29.49%,

11/19/23

.

27

27

991130453.UG.FTS.B,

29.49%,

11/19/23

.

122

121

991130997.UG.FTS.B,

29.49%,

11/19/23

.

74

73

991132478.UG.FTS.B,

29.49%,

11/19/23

.

100

98

991133598.UG.FTS.B,

29.49%,

11/19/23

.

48

48

991133629.UG.FTS.B,

29.49%,

11/19/23

.

116

115

991135699.UG.FTS.B,

29.49%,

11/19/23

.

66

5

991136254.UG.FTS.B,

29.49%,

11/19/23

.

84

83

991139753.UG.FTS.B,

29.49%,

11/19/23

.

34

34

991139865.UG.FTS.B,

29.49%,

11/19/23

.

36

36

991142836.UG.FTS.B,

29.49%,

11/19/23

.

68

68

991144029.UG.FTS.B,

29.49%,

11/19/23

.

33

33

991145061.UG.FTS.B,

29.49%,

11/19/23

.

54

53

991148298.UG.FTS.B,

29.49%,

11/19/23

.

219

218

991149117.UG.FTS.B,

29.49%,

11/19/23

..

514

512

991149147.UG.FTS.B,

29.49%,

11/19/23

.

1,347

1,339

991149343.UG.FTS.B,

29.49%,

11/19/23

.

419

417

991151700.UG.FTS.B,

29.49%,

11/19/23

.

25

25

991154103.UG.FTS.B,

29.49%,

11/19/23

.

26

26

991154172.UG.FTS.B,

29.49%,

11/19/23

.

65

65

991156373.UG.FTS.B,

29.49%,

11/19/23

.

88

88

991157560.UG.FTS.B,

29.49%,

11/19/23

.

203

199

991159545.UG.FTS.B,

29.49%,

11/19/23

.

24

24

991161298.UG.FTS.B,

29.49%,

11/19/23

.

71

71

991162658.UG.FTS.B,

29.49%,

11/19/23

.

198

197

991164793.UG.FTS.B,

29.49%,

11/19/23

.

229

224

991168156.UG.FTS.B,

29.49%,

11/19/23

.

175

(7)

991173395.UG.FTS.B,

29.49%,

11/19/23

.

83

82

991178189.UG.FTS.B,

29.49%,

11/19/23

.

41

35

991179282.UG.FTS.B,

29.49%,

11/19/23

.

38

38

991179290.UG.FTS.B,

29.49%,

11/19/23

.

142

107

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

267

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991179682.UG.FTS.B,

29.49%,

11/19/23

.

$

141

$

141

991181878.UG.FTS.B,

29.49%,

11/19/23

.

539

537

991186431.UG.FTS.B,

29.49%,

11/19/23

.

55

54

991187139.UG.FTS.B,

29.49%,

11/19/23

.

133

130

991189681.UG.FTS.B,

29.49%,

11/19/23

.

7

7

991191231.UG.FTS.B,

29.49%,

11/19/23

.

121

119

991194345.UG.FTS.B,

29.49%,

11/19/23

.

1,049

1,041

991194815.UG.FTS.B,

29.49%,

11/19/23

.

60

59

991195337.UG.FTS.B,

29.49%,

11/19/23

.

30

29

991195453.UG.FTS.B,

29.49%,

11/19/23

.

72

71

991198724.UG.FTS.B,

29.49%,

11/19/23

.

74

73

991200289.UG.FTS.B,

29.49%,

11/19/23

.

–

–

991202952.UG.FTS.B,

29.49%,

11/19/23

.

33

33

991208345.UG.FTS.B,

29.49%,

11/19/23

.

54

53

991209803.UG.FTS.B,

29.49%,

11/19/23

.

119

116

991211325.UG.FTS.B,

29.49%,

11/19/23

.

16

16

991214900.UG.FTS.B,

29.49%,

11/19/23

.

115

112

991216986.UG.FTS.B,

29.49%,

11/19/23

.

144

144

991217550.UG.FTS.B,

29.49%,

11/19/23

.

729

725

991221843.UG.FTS.B,

29.49%,

11/19/23

.

32

31

991224682.UG.FTS.B,

29.49%,

11/19/23

.

28

27

991225805.UG.FTS.B,

29.49%,

11/19/23

.

270

19

991227144.UG.FTS.B,

29.49%,

11/19/23

.

164

11

991229168.UG.FTS.B,

29.49%,

11/19/23

.

247

243

991232161.UG.FTS.B,

29.49%,

11/19/23

.

73

72

991233960.UG.FTS.B,

29.49%,

11/19/23

.

246

242

991235141.UG.FTS.B,

29.49%,

11/19/23

.

10

10

991239048.UG.FTS.B,

29.49%,

11/19/23

.

509

500

991243542.UG.FTS.B,

29.49%,

11/19/23

.

131

128

991243569.UG.FTS.B,

29.49%,

11/19/23

.

59

47

991244823.UG.FTS.B,

29.49%,

11/19/23

.

135

133

991245485.UG.FTS.B,

29.49%,

11/19/23

.

335

328

991247382.UG.FTS.B,

29.49%,

11/19/23

.

28

27

991247431.UG.FTS.B,

29.49%,

11/19/23

.

45

44

991247703.UG.FTS.B,

29.49%,

11/19/23

.

22

21

991247718.UG.FTS.B,

29.49%,

11/19/23

.

76

75

991249257.UG.FTS.B,

29.49%,

11/19/23

.

377

282

991252349.UG.FTS.B,

29.49%,

11/19/23

.

372

25

991255003.UG.FTS.B,

29.49%,

11/19/23

.

141

138

991255805.UG.FTS.B,

29.49%,

11/19/23

.

19

19

991258298.UG.FTS.B,

29.49%,

11/19/23

.

36

36

991261267.UG.FTS.B,

29.49%,

11/19/23

.

237

234

991263117.UG.FTS.B,

29.49%,

11/19/23

.

105

103

991265903.UG.FTS.B,

29.49%,

11/19/23

.

2

2

991266447.UG.FTS.B,

29.49%,

11/19/23

.

595

582

991268756.UG.FTS.B,

29.49%,

11/19/23

.

68

67

991271359.UG.FTS.B,

29.49%,

11/19/23

.

29

28

991273851.UG.FTS.B,

29.49%,

11/19/23

.

61

61

991275610.UG.FTS.B,

29.49%,

11/19/23

.

32

32

991276787.UG.FTS.B,

29.49%,

11/19/23

.

181

178

991280685.UG.FTS.B,

29.49%,

11/19/23

.

9

9

991282102.UG.FTS.B,

29.49%,

11/19/23

.

12

12

991282387.UG.FTS.B,

29.49%,

11/19/23

.

199

197

991284044.UG.FTS.B,

29.49%,

11/19/23

.

179

175

991284977.UG.FTS.B,

29.49%,

11/19/23

.

103

101

991285666.UG.FTS.B,

29.49%,

11/19/23

.

33

30

991288639.UG.FTS.B,

29.49%,

11/19/23

.

13

13

991104364.UG.FTS.B,

Zero

Cpn,

11/20/23

367

–

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991104666.UG.FTS.B,

Zero

Cpn,

11/20/23

$

449

$

–

991114394.UG.FTS.B,

Zero

Cpn,

11/20/23

98

–

991120325.UG.FTS.B,

Zero

Cpn,

11/20/23

68

–

991190127.UG.FTS.B,

Zero

Cpn,

11/20/23

648

–

991223391.UG.FTS.B,

Zero

Cpn,

11/20/23

374

–

991262656.UG.FTS.B,

Zero

Cpn,

11/20/23

238

–

991088718.UG.FTS.B,

18.47%,

11/20/23

.

266

262

991129469.UG.FTS.B,

18.71%,

11/20/23

.

344

339

991203940.UG.FTS.B,

18.71%,

11/20/23

.

159

156

991223604.UG.FTS.B,

18.71%,

11/20/23

.

255

251

991090157.UG.FTS.B,

19.3%,

11/20/23

..

446

439

991223759.UG.FTS.B,

19.3%,

11/20/23

..

95

93

991156345.UG.FTS.B,

19.96%,

11/20/23

.

13

13

991160337.UG.FTS.B,

19.99%,

11/20/23

.

233

232

991173118.UG.FTS.B,

19.99%,

11/20/23

..

59

58

991106564.UG.FTS.B,

20.47%,

11/20/23

.

57

56

991140327.UG.FTS.B,

20.47%,

11/20/23

.

113

111

991245732.UG.FTS.B,

20.47%,

11/20/23

.

94

92

991122846.UG.FTS.B,

20.96%,

11/20/23

.

448

440

991129247.UG.FTS.B,

20.96%,

11/20/23

.

65

64

991110573.UG.FTS.B,

21.48%,

11/20/23

..

184

180

991128464.UG.FTS.B,

21.48%,

11/20/23

.

229

225

991132359.UG.FTS.B,

21.48%,

11/20/23

.

272

19

991182247.UG.FTS.B,

21.48%,

11/20/23

.

14

14

991231683.UG.FTS.B,

21.48%,

11/20/23

.

173

12

991253213.UG.FTS.B,

21.48%,

11/20/23

.

123

120

991088077.UG.FTS.B,

22.47%,

11/20/23

.

527

517

991089399.UG.FTS.B,

22.47%,

11/20/23

.

87

6

991144324.UG.FTS.B,

22.47%,

11/20/23

.

83

81

991141025.UG.FTS.B,

23.45%,

11/20/23

.

174

171

991293457.UG.FTS.B,

23.45%,

11/20/23

.

23

23

991205662.UG.FTS.B,

25.45%,

11/20/23

.

58

57

991109468.UG.FTS.B,

26.44%,

11/20/23

.

293

20

991123865.UG.FTS.B,

26.44%,

11/20/23

.

28

28

991101785.UG.FTS.B,

28.48%,

11/20/23

.

72

72

991110614.UG.FTS.B,

28.48%,

11/20/23

..

198

194

991119440.UG.FTS.B,

28.48%,

11/20/23

..

1,371

1,355

991120295.UG.FTS.B,

28.48%,

11/20/23

.

73

73

991133949.UG.FTS.B,

28.48%,

11/20/23

.

110

108

991136789.UG.FTS.B,

28.48%,

11/20/23

.

85

85

991139388.UG.FTS.B,

28.48%,

11/20/23

.

172

171

991144509.UG.FTS.B,

28.48%,

11/20/23

.

34

34

991147217.UG.FTS.B,

28.48%,

11/20/23

.

76

76

991151706.UG.FTS.B,

28.48%,

11/20/23

.

95

94

991154518.UG.FTS.B,

28.48%,

11/20/23

.

166

164

991156621.UG.FTS.B,

28.48%,

11/20/23

.

66

66

991163465.UG.FTS.B,

28.48%,

11/20/23

.

12

12

991167433.UG.FTS.B,

28.48%,

11/20/23

.

117

116

991168480.UG.FTS.B,

28.48%,

11/20/23

.

193

191

991172523.UG.FTS.B,

28.48%,

11/20/23

.

129

128

991179629.UG.FTS.B,

28.48%,

11/20/23

.

85

85

991180290.UG.FTS.B,

28.48%,

11/20/23

.

357

356

991183278.UG.FTS.B,

28.48%,

11/20/23

.

110

109

991188196.UG.FTS.B,

28.48%,

11/20/23

.

326

321

991198064.UG.FTS.B,

28.48%,

11/20/23

.

43

42

991200208.UG.FTS.B,

28.48%,

11/20/23

.

78

78

991201380.UG.FTS.B,

28.48%,

11/20/23

.

11

11

991208366.UG.FTS.B,

28.48%,

11/20/23

.

138

137

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

268

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991209934.UG.FTS.B,

28.48%,

11/20/23

.

$

1,012

$

997

991253867.UG.FTS.B,

28.48%,

11/20/23

.

16

16

991291675.UG.FTS.B,

28.48%,

11/20/23

.

13

13

991299721.UG.FTS.B,

28.48%,

11/20/23

.

128

9

991099375.UG.FTS.B,

29.48%,

11/20/23

.

77

77

991102937.UG.FTS.B,

29.48%,

11/20/23

.

34

34

991105539.UG.FTS.B,

29.48%,

11/20/23

.

295

(13)

991110336.UG.FTS.B,

29.48%,

11/20/23

..

183

183

991114131.UG.FTS.B,

29.48%,

11/20/23

..

105

105

991115984.UG.FTS.B,

29.48%,

11/20/23

..

22

22

991121166.UG.FTS.B,

29.48%,

11/20/23

..

605

597

991123714.UG.FTS.B,

29.48%,

11/20/23

.

88

6

991132246.UG.FTS.B,

29.48%,

11/20/23

.

35

34

991143781.UG.FTS.B,

29.48%,

11/20/23

.

186

13

991144898.UG.FTS.B,

29.48%,

11/20/23

.

210

209

991158110.UG.FTS.B,

29.48%,

11/20/23

..

3

3

991167792.UG.FTS.B,

29.48%,

11/20/23

.

71

70

991188661.UG.FTS.B,

29.48%,

11/20/23

.

104

104

991189309.UG.FTS.B,

29.48%,

11/20/23

.

197

196

991200847.UG.FTS.B,

29.48%,

11/20/23

.

–

–

991236954.UG.FTS.B,

29.48%,

11/20/23

.

316

311

991246458.UG.FTS.B,

29.48%,

11/20/23

.

53

53

991273168.UG.FTS.B,

29.48%,

11/20/23

.

–

–

991282314.UG.FTS.B,

29.48%,

11/20/23

.

36

35

991299756.UG.FTS.B,

29.48%,

11/20/23

.

768

6

991099032.UG.FTS.B,

29.49%,

11/20/23

.

80

11

991100439.UG.FTS.B,

29.49%,

11/20/23

.

46

46

991102268.UG.FTS.B,

29.49%,

11/20/23

.

104

7

991103671.UG.FTS.B,

29.49%,

11/20/23

.

11

11

991103977.UG.FTS.B,

29.49%,

11/20/23

.

765

760

991104098.UG.FTS.B,

29.49%,

11/20/23

.

91

91

991104737.UG.FTS.B,

29.49%,

11/20/23

.

450

449

991106393.UG.FTS.B,

29.49%,

11/20/23

.

159

122

991106599.UG.FTS.B,

29.49%,

11/20/23

.

122

9

991106814.UG.FTS.B,

29.49%,

11/20/23

.

93

6

991107099.UG.FTS.B,

29.49%,

11/20/23

.

83

82

991107657.UG.FTS.B,

29.49%,

11/20/23

.

56

55

991107829.UG.FTS.B,

29.49%,

11/20/23

.

566

558

991109649.UG.FTS.B,

29.49%,

11/20/23

.

121

119

991111774.UG.FTS.B,

29.49%,

11/20/23

..

65

65

991114689.UG.FTS.B,

29.49%,

11/20/23

..

137

135

991115508.UG.FTS.B,

29.49%,

11/20/23

..

127

126

991117155.UG.FTS.B,

29.49%,

11/20/23

..

101

100

991117438.UG.FTS.B,

29.49%,

11/20/23

..

102

102

991121552.UG.FTS.B,

29.49%,

11/20/23

.

110

110

991122701.UG.FTS.B,

29.49%,

11/20/23

.

96

96

991123928.UG.FTS.B,

29.49%,

11/20/23

.

169

168

991128759.UG.FTS.B,

29.49%,

11/20/23

.

246

243

991130319.UG.FTS.B,

29.49%,

11/20/23

.

449

447

991130622.UG.FTS.B,

29.49%,

11/20/23

.

194

193

991133355.UG.FTS.B,

29.49%,

11/20/23

.

285

22

991133934.UG.FTS.B,

29.49%,

11/20/23

.

78

77

991134006.UG.FTS.B,

29.49%,

11/20/23

.

369

366

991139325.UG.FTS.B,

29.49%,

11/20/23

.

92

91

991139933.UG.FTS.B,

29.49%,

11/20/23

.

41

40

991140513.UG.FTS.B,

29.49%,

11/20/23

.

47

46

991144398.UG.FTS.B,

29.49%,

11/20/23

.

59

58

991145208.UG.FTS.B,

29.49%,

11/20/23

.

97

81

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991145726.UG.FTS.B,

29.49%,

11/20/23

.

$

118

$

117

991146373.UG.FTS.B,

29.49%,

11/20/23

.

361

357

991149619.UG.FTS.B,

29.49%,

11/20/23

.

184

183

991151110.UG.FTS.B,

29.49%,

11/20/23

..

125

124

991151258.UG.FTS.B,

29.49%,

11/20/23

.

288

283

991151536.UG.FTS.B,

29.49%,

11/20/23

.

125

124

991152032.UG.FTS.B,

29.49%,

11/20/23

.

49

49

991155248.UG.FTS.B,

29.49%,

11/20/23

.

98

98

991156978.UG.FTS.B,

29.49%,

11/20/23

.

39

38

991156986.UG.FTS.B,

29.49%,

11/20/23

.

112

111

991158912.UG.FTS.B,

29.49%,

11/20/23

.

1

1

991162239.UG.FTS.B,

29.49%,

11/20/23

.

2

2

991163351.UG.FTS.B,

29.49%,

11/20/23

.

258

257

991163681.UG.FTS.B,

29.49%,

11/20/23

.

49

41

991164069.UG.FTS.B,

29.49%,

11/20/23

.

127

124

991164951.UG.FTS.B,

29.49%,

11/20/23

.

121

120

991165843.UG.FTS.B,

29.49%,

11/20/23

.

82

80

991166659.UG.FTS.B,

29.49%,

11/20/23

.

151

149

991168811.UG.FTS.B,

29.49%,

11/20/23

..

34

34

991171687.UG.FTS.B,

29.49%,

11/20/23

.

55

55

991174051.UG.FTS.B,

29.49%,

11/20/23

.

2,338

2,328

991175499.UG.FTS.B,

29.49%,

11/20/23

.

5

5

991176256.UG.FTS.B,

29.49%,

11/20/23

.

91

6

991180132.UG.FTS.B,

29.49%,

11/20/23

.

43

42

991180267.UG.FTS.B,

29.49%,

11/20/23

.

53

4

991180907.UG.FTS.B,

29.49%,

11/20/23

.

40

40

991183499.UG.FTS.B,

29.49%,

11/20/23

.

214

211

991185357.UG.FTS.B,

29.49%,

11/20/23

.

186

184

991188129.UG.FTS.B,

29.49%,

11/20/23

.

57

56

991196289.UG.FTS.B,

29.49%,

11/20/23

.

137

(5)

991197351.UG.FTS.B,

29.49%,

11/20/23

.

32

31

991197732.UG.FTS.B,

29.49%,

11/20/23

.

168

129

991203157.UG.FTS.B,

29.49%,

11/20/23

.

102

101

991205178.UG.FTS.B,

29.49%,

11/20/23

.

115

114

991216452.UG.FTS.B,

29.49%,

11/20/23

.

388

33

991217754.UG.FTS.B,

29.49%,

11/20/23

.

233

232

991228375.UG.FTS.B,

29.49%,

11/20/23

.

19

19

991230774.UG.FTS.B,

29.49%,

11/20/23

.

81

62

991232040.UG.FTS.B,

29.49%,

11/20/23

.

83

82

991232318.UG.FTS.B,

29.49%,

11/20/23

.

73

73

991233281.UG.FTS.B,

29.49%,

11/20/23

.

72

70

991239892.UG.FTS.B,

29.49%,

11/20/23

.

145

143

991241824.UG.FTS.B,

29.49%,

11/20/23

.

48

48

991243067.UG.FTS.B,

29.49%,

11/20/23

.

54

53

991247130.UG.FTS.B,

29.49%,

11/20/23

.

131

128

991247425.UG.FTS.B,

29.49%,

11/20/23

.

87

86

991250047.UG.FTS.B,

29.49%,

11/20/23

.

116

113

991255249.UG.FTS.B,

29.49%,

11/20/23

.

40

40

991256470.UG.FTS.B,

29.49%,

11/20/23

.

94

93

991259108.UG.FTS.B,

29.49%,

11/20/23

.

311

306

991259458.UG.FTS.B,

29.49%,

11/20/23

.

65

65

991259611.UG.FTS.B,

29.49%,

11/20/23

.

27

26

991259786.UG.FTS.B,

29.49%,

11/20/23

.

67

10

991262795.UG.FTS.B,

29.49%,

11/20/23

.

83

82

991264888.UG.FTS.B,

29.49%,

11/20/23

.

288

283

991272133.UG.FTS.B,

29.49%,

11/20/23

.

83

81

991274797.UG.FTS.B,

29.49%,

11/20/23

.

47

46

991275088.UG.FTS.B,

29.49%,

11/20/23

.

67

67

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

269

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991281627.UG.FTS.B,

29.49%,

11/20/23

.

$

31

$

30

991282485.UG.FTS.B,

29.49%,

11/20/23

.

97

7

991283030.UG.FTS.B,

29.49%,

11/20/23

.

12

12

991285054.UG.FTS.B,

29.49%,

11/20/23

.

37

37

991286245.UG.FTS.B,

29.49%,

11/20/23

.

72

71

991291019.UG.FTS.B,

29.49%,

11/20/23

.

35

34

991293258.UG.FTS.B,

29.49%,

11/20/23

.

72

71

991293573.UG.FTS.B,

29.49%,

11/20/23

.

95

93

991101526.UG.FTS.B,

Zero

Cpn,

11/21/23

150

–

991105064.UG.FTS.B,

Zero

Cpn,

11/21/23

72

–

991105753.UG.FTS.B,

Zero

Cpn,

11/21/23

380

26

991119457.UG.FTS.B,

Zero

Cpn,

11/21/23

1,965

–

991120293.UG.FTS.B,

Zero

Cpn,

11/21/23

44

–

991132500.UG.FTS.B,

Zero

Cpn,

11/21/23

266

–

991181833.UG.FTS.B,

Zero

Cpn,

11/21/23

214

–

991195092.UG.FTS.B,

Zero

Cpn,

11/21/23

85

–

991232876.UG.FTS.B,

Zero

Cpn,

11/21/23

749

–

991277306.UG.FTS.B,

Zero

Cpn,

11/21/23

467

–

991288161.UG.FTS.B,

Zero

Cpn,

11/21/23

71

–

991119059.UG.FTS.B,

18.47%,

11/21/23

..

178

175

991174786.UG.FTS.B,

19.3%,

11/21/23

..

39

39

991175322.UG.FTS.B,

19.3%,

11/21/23

..

154

151

991181598.UG.FTS.B,

19.3%,

11/21/23

..

43

42

991182650.UG.FTS.B,

19.3%,

11/21/23

..

72

71

991267653.UG.FTS.B,

19.3%,

11/21/23

..

563

552

991286223.UG.FTS.B,

19.96%,

11/21/23

.

530

519

991098614.UG.FTS.B,

19.99%,

11/21/23

.

8

8

991100085.UG.FTS.B,

19.99%,

11/21/23

.

215

214

991133519.UG.FTS.B,

19.99%,

11/21/23

.

76

76

991121139.UG.FTS.B,

20.47%,

11/21/23

..

66

65

991188090.UG.FTS.B,

20.47%,

11/21/23

.

30

30

991121320.UG.FTS.B,

20.96%,

11/21/23

.

151

149

991122491.UG.FTS.B,

21.48%,

11/21/23

.

57

56

991142226.UG.FTS.B,

21.48%,

11/21/23

.

149

147

991171236.UG.FTS.B,

21.48%,

11/21/23

.

48

47

991177162.UG.FTS.B,

21.48%,

11/21/23

.

144

142

991119021.UG.FTS.B,

23.45%,

11/21/23

..

1,302

1,277

991208956.UG.FTS.B,

23.45%,

11/21/23

.

81

79

991239973.UG.FTS.B,

23.45%,

11/21/23

.

572

561

991110444.UG.FTS.B,

25.44%,

11/21/23

..

23

22

991096298.UG.FTS.B,

26.44%,

11/21/23

.

337

23

991126469.UG.FTS.B,

26.44%,

11/21/23

.

313

306

991146701.UG.FTS.B,

26.44%,

11/21/23

.

20

19

991100207.UG.FTS.B,

27.95%,

11/21/23

.

634

631

991100486.UG.FTS.B,

28.48%,

11/21/23

.

23

23

991103466.UG.FTS.B,

28.48%,

11/21/23

.

78

6

991107273.UG.FTS.B,

28.48%,

11/21/23

.

150

149

991108299.UG.FTS.B,

28.48%,

11/21/23

.

258

173

991111139.UG.FTS.B,

28.48%,

11/21/23

..

224

223

991111878.UG.FTS.B,

28.48%,

11/21/23

..

517

510

991113529.UG.FTS.B,

28.48%,

11/21/23

..

203

200

991114125.UG.FTS.B,

28.48%,

11/21/23

..

100

99

991114461.UG.FTS.B,

28.48%,

11/21/23

..

17

17

991117541.UG.FTS.B,

28.48%,

11/21/23

..

23

23

991123866.UG.FTS.B,

28.48%,

11/21/23

.

1,604

1,587

991134651.UG.FTS.B,

28.48%,

11/21/23

.

37

37

991136286.UG.FTS.B,

28.48%,

11/21/23

.

511

510

991139016.UG.FTS.B,

28.48%,

11/21/23

.

17

17

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991141105.UG.FTS.B,

28.48%,

11/21/23

..

$

16

$

16

991143210.UG.FTS.B,

28.48%,

11/21/23

.

101

101

991144769.UG.FTS.B,

28.48%,

11/21/23

.

61

61

991178026.UG.FTS.B,

28.48%,

11/21/23

.

157

156

991179665.UG.FTS.B,

28.48%,

11/21/23

.

80

79

991179762.UG.FTS.B,

28.48%,

11/21/23

.

69

9

991188096.UG.FTS.B,

28.48%,

11/21/23

.

7

7

991192321.UG.FTS.B,

28.48%,

11/21/23

.

78

76

991201097.UG.FTS.B,

28.48%,

11/21/23

.

236

235

991206138.UG.FTS.B,

28.48%,

11/21/23

.

393

386

991214205.UG.FTS.B,

28.48%,

11/21/23

.

51

50

991216840.UG.FTS.B,

28.48%,

11/21/23

.

1,821

1,802

991217644.UG.FTS.B,

28.48%,

11/21/23

.

1,705

1,683

991244839.UG.FTS.B,

28.48%,

11/21/23

.

141

139

991250805.UG.FTS.B,

28.48%,

11/21/23

.

329

324

991252189.UG.FTS.B,

28.48%,

11/21/23

.

36

36

991258982.UG.FTS.B,

28.48%,

11/21/23

.

43

43

991098460.UG.FTS.B,

29.48%,

11/21/23

.

–

–

991100150.UG.FTS.B,

29.48%,

11/21/23

.

57

56

991100773.UG.FTS.B,

29.48%,

11/21/23

.

253

252

991101326.UG.FTS.B,

29.48%,

11/21/23

.

518

516

991107255.UG.FTS.B,

29.48%,

11/21/23

.

87

86

991116411.UG.FTS.B,

29.48%,

11/21/23

..

1,477

1,461

991116814.UG.FTS.B,

29.48%,

11/21/23

..

217

16

991130518.UG.FTS.B,

29.48%,

11/21/23

.

35

35

991137525.UG.FTS.B,

29.48%,

11/21/23

.

69

68

991138019.UG.FTS.B,

29.48%,

11/21/23

.

258

253

991138181.UG.FTS.B,

29.48%,

11/21/23

.

239

238

991144416.UG.FTS.B,

29.48%,

11/21/23

.

112

112

991167614.UG.FTS.B,

29.48%,

11/21/23

.

–

–

991177225.UG.FTS.B,

29.48%,

11/21/23

.

2,314

2,281

991221688.UG.FTS.B,

29.48%,

11/21/23

.

322

321

991233225.UG.FTS.B,

29.48%,

11/21/23

.

120

118

991233432.UG.FTS.B,

29.48%,

11/21/23

.

19

19

991292382.UG.FTS.B,

29.48%,

11/21/23

.

35

35

991098955.UG.FTS.B,

29.49%,

11/21/23

.

463

462

991099469.UG.FTS.B,

29.49%,

11/21/23

.

296

289

991099712.UG.FTS.B,

29.49%,

11/21/23

.

311

310

991100230.UG.FTS.B,

29.49%,

11/21/23

.

100

99

991100952.UG.FTS.B,

29.49%,

11/21/23

.

86

85

991103542.UG.FTS.B,

29.49%,

11/21/23

.

29

29

991103610.UG.FTS.B,

29.49%,

11/21/23

.

9

9

991105392.UG.FTS.B,

29.49%,

11/21/23

.

120

119

991106046.UG.FTS.B,

29.49%,

11/21/23

.

17

17

991108274.UG.FTS.B,

29.49%,

11/21/23

.

438

433

991109592.UG.FTS.B,

29.49%,

11/21/23

.

81

80

991110776.UG.FTS.B,

29.49%,

11/21/23

..

4

4

991112069.UG.FTS.B,

29.49%,

11/21/23

..

76

75

991112493.UG.FTS.B,

29.49%,

11/21/23

..

1,082

1,078

991115516.UG.FTS.B,

29.49%,

11/21/23

..

140

139

991115754.UG.FTS.B,

29.49%,

11/21/23

..

208

29

991116985.UG.FTS.B,

29.49%,

11/21/23

..

279

277

991117385.UG.FTS.B,

29.49%,

11/21/23

..

21

21

991117400.UG.FTS.B,

29.49%,

11/21/23

..

60

59

991118011.UG.FTS.B,

29.49%,

11/21/23

..

3

3

991118095.UG.FTS.B,

29.49%,

11/21/23

..

255

251

991120544.UG.FTS.B,

29.49%,

11/21/23

.

1,182

280

991120556.UG.FTS.B,

29.49%,

11/21/23

.

529

527

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

270

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991123249.UG.FTS.B,

29.49%,

11/21/23

.

$

219

$

219

991124358.UG.FTS.B,

29.49%,

11/21/23

.

142

142

991128135.UG.FTS.B,

29.49%,

11/21/23

.

1,476

1,471

991128360.UG.FTS.B,

29.49%,

11/21/23

.

58

58

991131008.UG.FTS.B,

29.49%,

11/21/23

.

9

9

991131051.UG.FTS.B,

29.49%,

11/21/23

.

148

147

991132151.UG.FTS.B,

29.49%,

11/21/23

.

89

6

991132928.UG.FTS.B,

29.49%,

11/21/23

.

–

–

991135079.UG.FTS.B,

29.49%,

11/21/23

.

1,475

1,469

991136907.UG.FTS.B,

29.49%,

11/21/23

.

190

186

991139500.UG.FTS.B,

29.49%,

11/21/23

.

269

268

991141067.UG.FTS.B,

29.49%,

11/21/23

.

513

511

991142966.UG.FTS.B,

29.49%,

11/21/23

.

122

87

991142973.UG.FTS.B,

29.49%,

11/21/23

.

186

183

991143329.UG.FTS.B,

29.49%,

11/21/23

.

89

89

991146421.UG.FTS.B,

29.49%,

11/21/23

.

0

0

991146542.UG.FTS.B,

29.49%,

11/21/23

.

268

265

991147427.UG.FTS.B,

29.49%,

11/21/23

.

149

149

991148395.UG.FTS.B,

29.49%,

11/21/23

.

73

73

991148944.UG.FTS.B,

29.49%,

11/21/23

.

219

218

991150239.UG.FTS.B,

29.49%,

11/21/23

.

91

90

991150414.UG.FTS.B,

29.49%,

11/21/23

.

80

79

991151271.UG.FTS.B,

29.49%,

11/21/23

.

73

72

991156144.UG.FTS.B,

29.49%,

11/21/23

.

23

23

991159041.UG.FTS.B,

29.49%,

11/21/23

.

282

279

991164538.UG.FTS.B,

29.49%,

11/21/23

.

131

130

991164665.UG.FTS.B,

29.49%,

11/21/23

.

75

73

991168286.UG.FTS.B,

29.49%,

11/21/23

.

89

88

991170796.UG.FTS.B,

29.49%,

11/21/23

.

87

87

991171125.UG.FTS.B,

29.49%,

11/21/23

..

177

12

991172015.UG.FTS.B,

29.49%,

11/21/23

.

93

93

991172897.UG.FTS.B,

29.49%,

11/21/23

.

614

612

991177356.UG.FTS.B,

29.49%,

11/21/23

.

320

314

991178204.UG.FTS.B,

29.49%,

11/21/23

.

617

613

991179715.UG.FTS.B,

29.49%,

11/21/23

.

165

165

991181774.UG.FTS.B,

29.49%,

11/21/23

.

182

181

991181850.UG.FTS.B,

29.49%,

11/21/23

.

37

3

991182907.UG.FTS.B,

29.49%,

11/21/23

.

44

44

991183146.UG.FTS.B,

29.49%,

11/21/23

.

14

14

991183463.UG.FTS.B,

29.49%,

11/21/23

.

31

30

991185083.UG.FTS.B,

29.49%,

11/21/23

.

45

45

991186328.UG.FTS.B,

29.49%,

11/21/23

.

57

56

991190043.UG.FTS.B,

29.49%,

11/21/23

.

299

294

991190202.UG.FTS.B,

29.49%,

11/21/23

.

85

12

991192026.UG.FTS.B,

29.49%,

11/21/23

.

4

4

991193371.UG.FTS.B,

29.49%,

11/21/23

.

72

72

991198358.UG.FTS.B,

29.49%,

11/21/23

.

44

37

991199627.UG.FTS.B,

29.49%,

11/21/23

.

153

150

991200417.UG.FTS.B,

29.49%,

11/21/23

.

66

10

991208015.UG.FTS.B,

29.49%,

11/21/23

.

152

151

991210218.UG.FTS.B,

29.49%,

11/21/23

.

88

88

991210916.UG.FTS.B,

29.49%,

11/21/23

.

106

104

991214741.UG.FTS.B,

29.49%,

11/21/23

.

181

179

991215158.UG.FTS.B,

29.49%,

11/21/23

.

579

577

991218135.UG.FTS.B,

29.49%,

11/21/23

.

109

109

991221411.UG.FTS.B,

29.49%,

11/21/23

.

35

34

991226540.UG.FTS.B,

29.49%,

11/21/23

.

136

9

991231505.UG.FTS.B,

29.49%,

11/21/23

.

12

12

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991245012.UG.FTS.B,

29.49%,

11/21/23

.

$

65

$

64

991247154.UG.FTS.B,

29.49%,

11/21/23

.

1,459

1,435

991256043.UG.FTS.B,

29.49%,

11/21/23

.

27

26

991257293.UG.FTS.B,

29.49%,

11/21/23

.

123

120

991259486.UG.FTS.B,

29.49%,

11/21/23

.

41

34

991262256.UG.FTS.B,

29.49%,

11/21/23

.

110

108

991263857.UG.FTS.B,

29.49%,

11/21/23

.

64

63

991279661.UG.FTS.B,

29.49%,

11/21/23

.

25

25

991280311.UG.FTS.B,

29.49%,

11/21/23

.

236

232

991288030.UG.FTS.B,

29.49%,

11/21/23

.

62

62

991289243.UG.FTS.B,

29.49%,

11/21/23

.

58

57

991292780.UG.FTS.B,

29.49%,

11/21/23

.

53

53

991295513.UG.FTS.B,

29.49%,

11/21/23

.

68

66

991295848.UG.FTS.B,

29.49%,

11/21/23

.

35

34

991156563.UG.FTS.B,

29.99%,

11/21/23

.

31

2

991109503.UG.FTS.B,

Zero

Cpn,

11/22/23

112

–

991123539.UG.FTS.B,

Zero

Cpn,

11/22/23

142

–

991131090.UG.FTS.B,

Zero

Cpn,

11/22/23

70

–

991196545.UG.FTS.B,

Zero

Cpn,

11/22/23

49

–

991284239.UG.FTS.B,

Zero

Cpn,

11/22/23

34

–

991306259.UG.FTS.B,

Zero

Cpn,

11/22/23

66

–

991110555.UG.FTS.B,

18.71%,

11/22/23

..

76

75

991128782.UG.FTS.B,

19.3%,

11/22/23

..

123

121

991131888.UG.FTS.B,

19.3%,

11/22/23

..

877

864

991159245.UG.FTS.B,

19.3%,

11/22/23

..

136

134

991188961.UG.FTS.B,

19.3%,

11/22/23

..

94

92

991107401.UG.FTS.B,

19.96%,

11/22/23

.

67

66

991167032.UG.FTS.B,

19.96%,

11/22/23

.

1,204

1,184

991210107.UG.FTS.B,

19.96%,

11/22/23

.

2,063

2,030

991194598.UG.FTS.B,

20.47%,

11/22/23

.

97

95

991219767.UG.FTS.B,

20.47%,

11/22/23

.

52

51

991104332.UG.FTS.B,

20.48%,

11/22/23

.

600

589

991272905.UG.FTS.B,

20.96%,

11/22/23

.

80

0

991102218.UG.FTS.B,

21.48%,

11/22/23

.

92

91

991130918.UG.FTS.B,

21.48%,

11/22/23

.

146

143

991216544.UG.FTS.B,

21.48%,

11/22/23

.

455

445

991226181.UG.FTS.B,

21.48%,

11/22/23

.

159

155

991103985.UG.FTS.B,

22.47%,

11/22/23

.

1,054

138

991122505.UG.FTS.B,

22.47%,

11/22/23

.

98

70

991116892.UG.FTS.B,

23.45%,

11/22/23

..

–

–

991130316.UG.FTS.B,

23.45%,

11/22/23

.

147

143

991270560.UG.FTS.B,

23.45%,

11/22/23

.

39

38

991296702.UG.FTS.B,

25.44%,

11/22/23

.

13

12

991140736.UG.FTS.B,

26.44%,

11/22/23

.

1

1

991099015.UG.FTS.B,

27.99%,

11/22/23

.

175

174

991099635.UG.FTS.B,

27.99%,

11/22/23

.

73

72

991103080.UG.FTS.B,

27.99%,

11/22/23

.

38

(2)

991147302.UG.FTS.B,

27.99%,

11/22/23

.

80

80

991173237.UG.FTS.B,

27.99%,

11/22/23

.

131

30

991180193.UG.FTS.B,

27.99%,

11/22/23

.

40

39

991100713.UG.FTS.B,

28.48%,

11/22/23

.

86

85

991105789.UG.FTS.B,

28.48%,

11/22/23

.

289

288

991106530.UG.FTS.B,

28.48%,

11/22/23

.

33

32

991107100.UG.FTS.B,

28.48%,

11/22/23

.

109

108

991107234.UG.FTS.B,

28.48%,

11/22/23

.

29

29

991108348.UG.FTS.B,

28.48%,

11/22/23

.

281

276

991108827.UG.FTS.B,

28.48%,

11/22/23

.

56

56

991114808.UG.FTS.B,

28.48%,

11/22/23

..

206

205

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

271

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991117144.UG.FTS.B,

28.48%,

11/22/23

..

$

34

$

33

991123749.UG.FTS.B,

28.48%,

11/22/23

.

34

34

991123958.UG.FTS.B,

28.48%,

11/22/23

.

186

185

991124215.UG.FTS.B,

28.48%,

11/22/23

.

136

135

991132728.UG.FTS.B,

28.48%,

11/22/23

.

406

400

991133856.UG.FTS.B,

28.48%,

11/22/23

.

325

320

991135863.UG.FTS.B,

28.48%,

11/22/23

.

53

53

991136606.UG.FTS.B,

28.48%,

11/22/23

.

18

18

991148813.UG.FTS.B,

28.48%,

11/22/23

.

91

6

991153431.UG.FTS.B,

28.48%,

11/22/23

.

424

422

991158207.UG.FTS.B,

28.48%,

11/22/23

.

7

7

991164202.UG.FTS.B,

28.48%,

11/22/23

.

19

19

991177780.UG.FTS.B,

28.48%,

11/22/23

.

135

134

991178073.UG.FTS.B,

28.48%,

11/22/23

.

50

50

991193001.UG.FTS.B,

28.48%,

11/22/23

.

69

69

991193427.UG.FTS.B,

28.48%,

11/22/23

.

30

30

991203533.UG.FTS.B,

28.48%,

11/22/23

.

298

25

991204529.UG.FTS.B,

28.48%,

11/22/23

.

74

74

991206294.UG.FTS.B,

28.48%,

11/22/23

.

16

16

991207461.UG.FTS.B,

28.48%,

11/22/23

.

21

21

991277834.UG.FTS.B,

28.48%,

11/22/23

.

906

889

991298377.UG.FTS.B,

28.48%,

11/22/23

.

59

58

991106616.UG.FTS.B,

29.47%,

11/22/23

.

369

368

991101762.UG.FTS.B,

29.48%,

11/22/23

.

140

139

991105231.UG.FTS.B,

29.48%,

11/22/23

.

182

180

991105725.UG.FTS.B,

29.48%,

11/22/23

.

67

67

991106488.UG.FTS.B,

29.48%,

11/22/23

.

1,278

1,274

991106614.UG.FTS.B,

29.48%,

11/22/23

.

172

171

991109474.UG.FTS.B,

29.48%,

11/22/23

.

323

320

991109552.UG.FTS.B,

29.48%,

11/22/23

.

18

18

991113377.UG.FTS.B,

29.48%,

11/22/23

..

383

377

991114774.UG.FTS.B,

29.48%,

11/22/23

..

239

235

991122236.UG.FTS.B,

29.48%,

11/22/23

.

60

59

991127097.UG.FTS.B,

29.48%,

11/22/23

.

148

147

991136012.UG.FTS.B,

29.48%,

11/22/23

.

17

16

991148046.UG.FTS.B,

29.48%,

11/22/23

.

145

144

991159235.UG.FTS.B,

29.48%,

11/22/23

.

1,394

1,380

991164478.UG.FTS.B,

29.48%,

11/22/23

.

10

10

991172918.UG.FTS.B,

29.48%,

11/22/23

.

141

33

991187472.UG.FTS.B,

29.48%,

11/22/23

.

66

66

991193777.UG.FTS.B,

29.48%,

11/22/23

.

53

53

991208515.UG.FTS.B,

29.48%,

11/22/23

.

–

–

991259545.UG.FTS.B,

29.48%,

11/22/23

.

109

107

991273757.UG.FTS.B,

29.48%,

11/22/23

.

68

67

991098153.UG.FTS.B,

29.49%,

11/22/23

.

51

51

991098845.UG.FTS.B,

29.49%,

11/22/23

.

375

368

991098863.UG.FTS.B,

29.49%,

11/22/23

.

134

10

991099882.UG.FTS.B,

29.49%,

11/22/23

.

139

138

991100233.UG.FTS.B,

29.49%,

11/22/23

.

139

137

991100276.UG.FTS.B,

29.49%,

11/22/23

.

223

16

991101765.UG.FTS.B,

29.49%,

11/22/23

.

25

22

991101825.UG.FTS.B,

29.49%,

11/22/23

.

131

131

991101826.UG.FTS.B,

29.49%,

11/22/23

.

134

132

991102687.UG.FTS.B,

29.49%,

11/22/23

.

67

65

991102716.UG.FTS.B,

29.49%,

11/22/23

.

97

86

991102833.UG.FTS.B,

29.49%,

11/22/23

.

302

300

991103085.UG.FTS.B,

29.49%,

11/22/23

.

394

392

991103927.UG.FTS.B,

29.49%,

11/22/23

.

25

24

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991104363.UG.FTS.B,

29.49%,

11/22/23

.

$

24

$

4

991104436.UG.FTS.B,

29.49%,

11/22/23

.

202

200

991104611.UG.FTS.B,

29.49%,

11/22/23

..

0

0

991104734.UG.FTS.B,

29.49%,

11/22/23

.

623

620

991104907.UG.FTS.B,

29.49%,

11/22/23

.

85

84

991105964.UG.FTS.B,

29.49%,

11/22/23

.

143

142

991106568.UG.FTS.B,

29.49%,

11/22/23

.

311

310

991106759.UG.FTS.B,

29.49%,

11/22/23

.

77

76

991106951.UG.FTS.B,

29.49%,

11/22/23

.

29

29

991107039.UG.FTS.B,

29.49%,

11/22/23

.

102

100

991107592.UG.FTS.B,

29.49%,

11/22/23

.

230

228

991107967.UG.FTS.B,

29.49%,

11/22/23

.

7

7

991108009.UG.FTS.B,

29.49%,

11/22/23

.

889

867

991108043.UG.FTS.B,

29.49%,

11/22/23

.

40

39

991108360.UG.FTS.B,

29.49%,

11/22/23

.

22

22

991108861.UG.FTS.B,

29.49%,

11/22/23

.

139

138

991109472.UG.FTS.B,

29.49%,

11/22/23

.

35

35

991110192.UG.FTS.B,

29.49%,

11/22/23

..

52

4

991110535.UG.FTS.B,

29.49%,

11/22/23

..

404

403

991110890.UG.FTS.B,

29.49%,

11/22/23

..

285

22

991111100.UG.FTS.B,

29.49%,

11/22/23

..

82

6

991111957.UG.FTS.B,

29.49%,

11/22/23

..

119

117

991114388.UG.FTS.B,

29.49%,

11/22/23

..

12

11

991115233.UG.FTS.B,

29.49%,

11/22/23

..

511

506

991117728.UG.FTS.B,

29.49%,

11/22/23

..

–

–

991122467.UG.FTS.B,

29.49%,

11/22/23

.

0

0

991122786.UG.FTS.B,

29.49%,

11/22/23

.

16

16

991123719.UG.FTS.B,

29.49%,

11/22/23

.

94

94

991124840.UG.FTS.B,

29.49%,

11/22/23

.

100

99

991125143.UG.FTS.B,

29.49%,

11/22/23

.

181

180

991125923.UG.FTS.B,

29.49%,

11/22/23

.

114

112

991126771.UG.FTS.B,

29.49%,

11/22/23

.

88

6

991127190.UG.FTS.B,

29.49%,

11/22/23

.

107

107

991130013.UG.FTS.B,

29.49%,

11/22/23

.

135

19

991130907.UG.FTS.B,

29.49%,

11/22/23

.

182

181

991131752.UG.FTS.B,

29.49%,

11/22/23

.

125

124

991132805.UG.FTS.B,

29.49%,

11/22/23

.

0

0

991134301.UG.FTS.B,

29.49%,

11/22/23

.

62

61

991135207.UG.FTS.B,

29.49%,

11/22/23

.

174

173

991136157.UG.FTS.B,

29.49%,

11/22/23

.

90

90

991136773.UG.FTS.B,

29.49%,

11/22/23

.

193

193

991137276.UG.FTS.B,

29.49%,

11/22/23

.

123

122

991138760.UG.FTS.B,

29.49%,

11/22/23

.

669

665

991140267.UG.FTS.B,

29.49%,

11/22/23

.

51

51

991140300.UG.FTS.B,

29.49%,

11/22/23

.

327

322

991140775.UG.FTS.B,

29.49%,

11/22/23

.

97

95

991141532.UG.FTS.B,

29.49%,

11/22/23

.

110

110

991141900.UG.FTS.B,

29.49%,

11/22/23

.

101

101

991142830.UG.FTS.B,

29.49%,

11/22/23

.

56

4

991145029.UG.FTS.B,

29.49%,

11/22/23

.

75

74

991145513.UG.FTS.B,

29.49%,

11/22/23

.

36

36

991145610.UG.FTS.B,

29.49%,

11/22/23

.

157

113

991146596.UG.FTS.B,

29.49%,

11/22/23

.

317

311

991149872.UG.FTS.B,

29.49%,

11/22/23

.

677

674

991150162.UG.FTS.B,

29.49%,

11/22/23

.

127

124

991154033.UG.FTS.B,

29.49%,

11/22/23

.

77

5

991154366.UG.FTS.B,

29.49%,

11/22/23

.

562

560

991154514.UG.FTS.B,

29.49%,

11/22/23

.

53

52

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

272

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991155306.UG.FTS.B,

29.49%,

11/22/23

.

$

64

$

63

991155530.UG.FTS.B,

29.49%,

11/22/23

.

182

180

991156218.UG.FTS.B,

29.49%,

11/22/23

.

80

6

991156513.UG.FTS.B,

29.49%,

11/22/23

.

165

163

991158065.UG.FTS.B,

29.49%,

11/22/23

.

51

41

991158633.UG.FTS.B,

29.49%,

11/22/23

.

153

152

991158967.UG.FTS.B,

29.49%,

11/22/23

.

107

107

991159486.UG.FTS.B,

29.49%,

11/22/23

.

5

5

991160297.UG.FTS.B,

29.49%,

11/22/23

.

109

107

991162200.UG.FTS.B,

29.49%,

11/22/23

.

290

285

991163098.UG.FTS.B,

29.49%,

11/22/23

.

152

150

991172183.UG.FTS.B,

29.49%,

11/22/23

.

161

158

991174255.UG.FTS.B,

29.49%,

11/22/23

.

81

81

991174940.UG.FTS.B,

29.49%,

11/22/23

.

40

39

991177673.UG.FTS.B,

29.49%,

11/22/23

.

26

25

991178095.UG.FTS.B,

29.49%,

11/22/23

.

15

15

991178176.UG.FTS.B,

29.49%,

11/22/23

.

108

107

991179177.UG.FTS.B,

29.49%,

11/22/23

.

200

198

991179352.UG.FTS.B,

29.49%,

11/22/23

.

39

39

991179493.UG.FTS.B,

29.49%,

11/22/23

.

144

10

991182784.UG.FTS.B,

29.49%,

11/22/23

.

81

80

991185533.UG.FTS.B,

29.49%,

11/22/23

.

16

16

991187032.UG.FTS.B,

29.49%,

11/22/23

.

128

127

991188329.UG.FTS.B,

29.49%,

11/22/23

.

59

58

991190151.UG.FTS.B,

29.49%,

11/22/23

.

66

64

991190596.UG.FTS.B,

29.49%,

11/22/23

.

66

5

991190714.UG.FTS.B,

29.49%,

11/22/23

.

78

78

991192509.UG.FTS.B,

29.49%,

11/22/23

.

24

4

991193153.UG.FTS.B,

29.49%,

11/22/23

.

0

0

991193398.UG.FTS.B,

29.49%,

11/22/23

.

195

15

991193399.UG.FTS.B,

29.49%,

11/22/23

.

270

266

991197008.UG.FTS.B,

29.49%,

11/22/23

.

9

9

991199912.UG.FTS.B,

29.49%,

11/22/23

.

164

150

991201317.UG.FTS.B,

29.49%,

11/22/23

.

109

109

991202997.UG.FTS.B,

29.49%,

11/22/23

.

123

121

991205716.UG.FTS.B,

29.49%,

11/22/23

.

30

29

991206844.UG.FTS.B,

29.49%,

11/22/23

.

57

57

991208599.UG.FTS.B,

29.49%,

11/22/23

.

53

8

991208894.UG.FTS.B,

29.49%,

11/22/23

.

88

13

991213764.UG.FTS.B,

29.49%,

11/22/23

.

47

46

991218188.UG.FTS.B,

29.49%,

11/22/23

.

82

82

991220085.UG.FTS.B,

29.49%,

11/22/23

.

26

26

991220421.UG.FTS.B,

29.49%,

11/22/23

.

43

43

991223064.UG.FTS.B,

29.49%,

11/22/23

.

41

4

991223519.UG.FTS.B,

29.49%,

11/22/23

.

188

13

991224725.UG.FTS.B,

29.49%,

11/22/23

.

583

581

991225043.UG.FTS.B,

29.49%,

11/22/23

.

511

509

991229113.UG.FTS.B,

29.49%,

11/22/23

.

91

90

991234579.UG.FTS.B,

29.49%,

11/22/23

.

268

263

991235816.UG.FTS.B,

29.49%,

11/22/23

.

83

82

991239165.UG.FTS.B,

29.49%,

11/22/23

.

291

290

991239272.UG.FTS.B,

29.49%,

11/22/23

.

143

143

991239824.UG.FTS.B,

29.49%,

11/22/23

.

182

182

991245336.UG.FTS.B,

29.49%,

11/22/23

.

309

307

991247716.UG.FTS.B,

29.49%,

11/22/23

.

291

290

991247778.UG.FTS.B,

29.49%,

11/22/23

.

79

78

991254689.UG.FTS.B,

29.49%,

11/22/23

.

1,007

991

991260753.UG.FTS.B,

29.49%,

11/22/23

.

58

57

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991261949.UG.FTS.B,

29.49%,

11/22/23

.

$

66

$

64

991272767.UG.FTS.B,

29.49%,

11/22/23

.

60

59

991273331.UG.FTS.B,

29.49%,

11/22/23

.

22

21

991277853.UG.FTS.B,

29.49%,

11/22/23

.

140

137

991280461.UG.FTS.B,

29.49%,

11/22/23

.

30

30

991281599.UG.FTS.B,

29.49%,

11/22/23

.

23

23

991283256.UG.FTS.B,

29.49%,

11/22/23

.

31

30

991285180.UG.FTS.B,

29.49%,

11/22/23

.

46

3

991286365.UG.FTS.B,

29.49%,

11/22/23

.

726

712

991289422.UG.FTS.B,

29.49%,

11/22/23

.

172

170

991297492.UG.FTS.B,

29.49%,

11/22/23

.

20

18

991297769.UG.FTS.B,

29.49%,

11/22/23

.

77

76

991301137.UG.FTS.B,

29.49%,

11/22/23

.

188

184

991302857.UG.FTS.B,

29.49%,

11/22/23

.

50

50

991303567.UG.FTS.B,

29.49%,

11/22/23

.

13

13

991305655.UG.FTS.B,

29.49%,

11/22/23

.

116

28

991307782.UG.FTS.B,

29.49%,

11/22/23

.

54

53

991102589.UG.FTS.B,

29.98%,

11/22/23

.

221

220

991302013.UG.FTS.B,

29.99%,

11/22/23

.

22

22

991114217.UG.FTS.B,

Zero

Cpn,

11/23/23

112

–

991120572.UG.FTS.B,

Zero

Cpn,

11/23/23

241

17

991126096.UG.FTS.B,

Zero

Cpn,

11/23/23

52

–

991134259.UG.FTS.B,

Zero

Cpn,

11/23/23

85

–

991160016.UG.FTS.B,

Zero

Cpn,

11/23/23

979

–

991245604.UG.FTS.B,

Zero

Cpn,

11/23/23

60

–

991105294.UG.FTS.B,

19.3%,

11/23/23

..

869

880

991160586.UG.FTS.B,

19.96%,

11/23/23

.

131

129

991166244.UG.FTS.B,

19.96%,

11/23/23

.

28

28

991291121.UG.FTS.B,

19.96%,

11/23/23

.

95

94

991298830.UG.FTS.B,

19.96%,

11/23/23

.

1,485

1,456

991150634.UG.FTS.B,

19.99%,

11/23/23

.

48

48

991174650.UG.FTS.B,

19.99%,

11/23/23

.

228

228

991188131.UG.FTS.B,

19.99%,

11/23/23

.

205

202

991194396.UG.FTS.B,

19.99%,

11/23/23

.

153

152

991122664.UG.FTS.B,

20.47%,

11/23/23

.

101

13

991158048.UG.FTS.B,

20.47%,

11/23/23

.

40

39

991232886.UG.FTS.B,

20.47%,

11/23/23

.

49

49

991115402.UG.FTS.B,

20.96%,

11/23/23

..

101

99

991287696.UG.FTS.B,

20.96%,

11/23/23

.

174

170

991107484.UG.FTS.B,

21.47%,

11/23/23

.

11

11

991120730.UG.FTS.B,

21.48%,

11/23/23

.

93

92

991131837.UG.FTS.B,

21.48%,

11/23/23

.

193

25

991193854.UG.FTS.B,

21.48%,

11/23/23

.

101

99

991224752.UG.FTS.B,

21.48%,

11/23/23

.

143

140

991262145.UG.FTS.B,

21.48%,

11/23/23

.

43

42

991161491.UG.FTS.B,

22.47%,

11/23/23

.

184

25

991214317.UG.FTS.B,

23.45%,

11/23/23

.

500

3

991301029.UG.FTS.B,

27.99%,

11/23/23

.

24

24

991308890.UG.FTS.B,

27.99%,

11/23/23

.

57

57

991107237.UG.FTS.B,

28.48%,

11/23/23

.

65

65

991109056.UG.FTS.B,

28.48%,

11/23/23

.

886

883

991109812.UG.FTS.B,

28.48%,

11/23/23

.

319

244

991110409.UG.FTS.B,

28.48%,

11/23/23

..

689

687

991113930.UG.FTS.B,

28.48%,

11/23/23

..

135

134

991118848.UG.FTS.B,

28.48%,

11/23/23

..

110

110

991122874.UG.FTS.B,

28.48%,

11/23/23

.

313

312

991124825.UG.FTS.B,

28.48%,

11/23/23

.

322

321

991126218.UG.FTS.B,

28.48%,

11/23/23

.

376

375

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

273

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991132565.UG.FTS.B,

28.48%,

11/23/23

.

$

607

$

604

991139072.UG.FTS.B,

28.48%,

11/23/23

.

303

302

991148130.UG.FTS.B,

28.48%,

11/23/23

.

72

71

991148170.UG.FTS.B,

28.48%,

11/23/23

.

22

22

991149182.UG.FTS.B,

28.48%,

11/23/23

.

234

230

991165973.UG.FTS.B,

28.48%,

11/23/23

.

89

7

991172431.UG.FTS.B,

28.48%,

11/23/23

.

84

84

991191502.UG.FTS.B,

28.48%,

11/23/23

.

34

34

991196206.UG.FTS.B,

28.48%,

11/23/23

.

39

39

991208349.UG.FTS.B,

28.48%,

11/23/23

.

182

(6)

991231629.UG.FTS.B,

28.48%,

11/23/23

.

40

40

991239623.UG.FTS.B,

28.48%,

11/23/23

.

490

481

991255346.UG.FTS.B,

28.48%,

11/23/23

.

87

86

991276288.UG.FTS.B,

28.48%,

11/23/23

.

440

37

991276620.UG.FTS.B,

28.48%,

11/23/23

.

108

107

991279906.UG.FTS.B,

28.48%,

11/23/23

.

136

138

991280037.UG.FTS.B,

28.48%,

11/23/23

.

80

79

991280867.UG.FTS.B,

28.48%,

11/23/23

.

40

6

991281094.UG.FTS.B,

28.48%,

11/23/23

.

10

10

991317220.UG.FTS.B,

28.48%,

11/23/23

.

315

318

991105451.UG.FTS.B,

29.48%,

11/23/23

.

25

25

991114228.UG.FTS.B,

29.48%,

11/23/23

..

138

137

991116041.UG.FTS.B,

29.48%,

11/23/23

..

107

106

991121408.UG.FTS.B,

29.48%,

11/23/23

.

143

10

991121901.UG.FTS.B,

29.48%,

11/23/23

.

173

172

991122886.UG.FTS.B,

29.48%,

11/23/23

.

163

168

991136522.UG.FTS.B,

29.48%,

11/23/23

.

4

4

991140139.UG.FTS.B,

29.48%,

11/23/23

.

76

76

991145127.UG.FTS.B,

29.48%,

11/23/23

.

113

112

991154134.UG.FTS.B,

29.48%,

11/23/23

.

515

521

991165753.UG.FTS.B,

29.48%,

11/23/23

.

24

21

991166312.UG.FTS.B,

29.48%,

11/23/23

.

95

95

991169530.UG.FTS.B,

29.48%,

11/23/23

.

127

94

991172585.UG.FTS.B,

29.48%,

11/23/23

.

110

109

991209537.UG.FTS.B,

29.48%,

11/23/23

.

614

42

991217359.UG.FTS.B,

29.48%,

11/23/23

.

161

160

991251198.UG.FTS.B,

29.48%,

11/23/23

.

–

–

991306783.UG.FTS.B,

29.48%,

11/23/23

.

49

48

991312091.UG.FTS.B,

29.48%,

11/23/23

.

59

59

991312802.UG.FTS.B,

29.48%,

11/23/23

.

238

241

991105146.UG.FTS.B,

29.49%,

11/23/23

.

15

15

991105591.UG.FTS.B,

29.49%,

11/23/23

.

501

500

991105687.UG.FTS.B,

29.49%,

11/23/23

.

462

459

991105748.UG.FTS.B,

29.49%,

11/23/23

.

59

59

991106054.UG.FTS.B,

29.49%,

11/23/23

.

472

484

991106234.UG.FTS.B,

29.49%,

11/23/23

.

98

7

991106329.UG.FTS.B,

29.49%,

11/23/23

.

238

16

991106382.UG.FTS.B,

29.49%,

11/23/23

.

131

130

991106421.UG.FTS.B,

29.49%,

11/23/23

.

130

130

991106756.UG.FTS.B,

29.49%,

11/23/23

.

210

209

991107142.UG.FTS.B,

29.49%,

11/23/23

.

461

456

991107562.UG.FTS.B,

29.49%,

11/23/23

.

250

249

991108375.UG.FTS.B,

29.49%,

11/23/23

.

594

588

991108441.UG.FTS.B,

29.49%,

11/23/23

.

244

243

991108457.UG.FTS.B,

29.49%,

11/23/23

.

40

39

991108979.UG.FTS.B,

29.49%,

11/23/23

.

65

64

991109151.UG.FTS.B,

29.49%,

11/23/23

.

65

64

991109359.UG.FTS.B,

29.49%,

11/23/23

.

173

133

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991109745.UG.FTS.B,

29.49%,

11/23/23

.

$

189

$

188

991110504.UG.FTS.B,

29.49%,

11/23/23

..

182

(1)

991110627.UG.FTS.B,

29.49%,

11/23/23

..

125

9

991110866.UG.FTS.B,

29.49%,

11/23/23

..

364

358

991110994.UG.FTS.B,

29.49%,

11/23/23

..

713

733

991111224.UG.FTS.B,

29.49%,

11/23/23

..

121

120

991111433.UG.FTS.B,

29.49%,

11/23/23

..

59

59

991111804.UG.FTS.B,

29.49%,

11/23/23

..

17

17

991112668.UG.FTS.B,

29.49%,

11/23/23

..

78

11

991113918.UG.FTS.B,

29.49%,

11/23/23

..

183

185

991114266.UG.FTS.B,

29.49%,

11/23/23

..

3

3

991114290.UG.FTS.B,

29.49%,

11/23/23

..

508

506

991114512.UG.FTS.B,

29.49%,

11/23/23

..

165

163

991115957.UG.FTS.B,

29.49%,

11/23/23

..

12

12

991115973.UG.FTS.B,

29.49%,

11/23/23

..

394

(14)

991116067.UG.FTS.B,

29.49%,

11/23/23

..

193

192

991116199.UG.FTS.B,

29.49%,

11/23/23

..

413

411

991116243.UG.FTS.B,

29.49%,

11/23/23

..

37

37

991116796.UG.FTS.B,

29.49%,

11/23/23

..

22

22

991117236.UG.FTS.B,

29.49%,

11/23/23

..

41

41

991122173.UG.FTS.B,

29.49%,

11/23/23

.

60

60

991122177.UG.FTS.B,

29.49%,

11/23/23

.

34

33

991122211.UG.FTS.B,

29.49%,

11/23/23

..

96

95

991122535.UG.FTS.B,

29.49%,

11/23/23

.

127

126

991123210.UG.FTS.B,

29.49%,

11/23/23

.

354

350

991124049.UG.FTS.B,

29.49%,

11/23/23

.

57

4

991125159.UG.FTS.B,

29.49%,

11/23/23

.

141

140

991125565.UG.FTS.B,

29.49%,

11/23/23

.

157

156

991128208.UG.FTS.B,

29.49%,

11/23/23

.

400

269

991129075.UG.FTS.B,

29.49%,

11/23/23

.

120

118

991130949.UG.FTS.B,

29.49%,

11/23/23

.

132

131

991133821.UG.FTS.B,

29.49%,

11/23/23

.

203

201

991136202.UG.FTS.B,

29.49%,

11/23/23

.

–

–

991136597.UG.FTS.B,

29.49%,

11/23/23

.

72

71

991137842.UG.FTS.B,

29.49%,

11/23/23

.

125

125

991138422.UG.FTS.B,

29.49%,

11/23/23

.

305

300

991140253.UG.FTS.B,

29.49%,

11/23/23

.

211

210

991141758.UG.FTS.B,

29.49%,

11/23/23

.

111

110

991145034.UG.FTS.B,

29.49%,

11/23/23

.

92

91

991146851.UG.FTS.B,

29.49%,

11/23/23

.

278

274

991147437.UG.FTS.B,

29.49%,

11/23/23

.

41

41

991148747.UG.FTS.B,

29.49%,

11/23/23

.

1,170

1,157

991150026.UG.FTS.B,

29.49%,

11/23/23

.

30

2

991151933.UG.FTS.B,

29.49%,

11/23/23

.

52

52

991152552.UG.FTS.B,

29.49%,

11/23/23

.

24

24

991153893.UG.FTS.B,

29.49%,

11/23/23

.

73

7

991153925.UG.FTS.B,

29.49%,

11/23/23

.

14

14

991155443.UG.FTS.B,

29.49%,

11/23/23

.

9

9

991157703.UG.FTS.B,

29.49%,

11/23/23

.

1,564

1,546

991158154.UG.FTS.B,

29.49%,

11/23/23

.

103

103

991158531.UG.FTS.B,

29.49%,

11/23/23

.

36

36

991160001.UG.FTS.B,

29.49%,

11/23/23

.

305

229

991161686.UG.FTS.B,

29.49%,

11/23/23

.

87

85

991162286.UG.FTS.B,

29.49%,

11/23/23

.

10

10

991162502.UG.FTS.B,

29.49%,

11/23/23

.

141

144

991165285.UG.FTS.B,

29.49%,

11/23/23

.

36

35

991167180.UG.FTS.B,

29.49%,

11/23/23

.

1,443

1,437

991167616.UG.FTS.B,

29.49%,

11/23/23

.

72

72

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

274

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991168010.UG.FTS.B,

29.49%,

11/23/23

.

$

73

$

72

991168725.UG.FTS.B,

29.49%,

11/23/23

.

73

73

991171795.UG.FTS.B,

29.49%,

11/23/23

.

18

18

991172171.UG.FTS.B,

29.49%,

11/23/23

.

138

135

991174195.UG.FTS.B,

29.49%,

11/23/23

.

109

110

991175302.UG.FTS.B,

29.49%,

11/23/23

.

209

207

991176719.UG.FTS.B,

29.49%,

11/23/23

.

443

313

991179599.UG.FTS.B,

29.49%,

11/23/23

.

72

(3)

991182437.UG.FTS.B,

29.49%,

11/23/23

.

38

38

991185725.UG.FTS.B,

29.49%,

11/23/23

.

1,234

1,213

991185856.UG.FTS.B,

29.49%,

11/23/23

.

109

109

991186611.UG.FTS.B,

29.49%,

11/23/23

..

4

4

991186721.UG.FTS.B,

29.49%,

11/23/23

.

53

54

991187798.UG.FTS.B,

29.49%,

11/23/23

.

139

138

991189945.UG.FTS.B,

29.49%,

11/23/23

.

69

10

991192666.UG.FTS.B,

29.49%,

11/23/23

.

18

18

991193049.UG.FTS.B,

29.49%,

11/23/23

.

104

7

991194741.UG.FTS.B,

29.49%,

11/23/23

.

352

350

991195079.UG.FTS.B,

29.49%,

11/23/23

.

374

54

991196579.UG.FTS.B,

29.49%,

11/23/23

.

1,835

1,822

991197185.UG.FTS.B,

29.49%,

11/23/23

.

421

31

991197876.UG.FTS.B,

29.49%,

11/23/23

.

733

731

991207799.UG.FTS.B,

29.49%,

11/23/23

.

50

50

991209026.UG.FTS.B,

29.49%,

11/23/23

.

211

211

991209613.UG.FTS.B,

29.49%,

11/23/23

.

60

59

991212875.UG.FTS.B,

29.49%,

11/23/23

.

255

18

991215672.UG.FTS.B,

29.49%,

11/23/23

.

476

473

991217039.UG.FTS.B,

29.49%,

11/23/23

.

176

175

991217199.UG.FTS.B,

29.49%,

11/23/23

.

73

73

991218537.UG.FTS.B,

29.49%,

11/23/23

.

439

437

991221448.UG.FTS.B,

29.49%,

11/23/23

.

66

66

991223450.UG.FTS.B,

29.49%,

11/23/23

.

26

26

991228567.UG.FTS.B,

29.49%,

11/23/23

.

29

29

991228935.UG.FTS.B,

29.49%,

11/23/23

.

46

46

991230373.UG.FTS.B,

29.49%,

11/23/23

.

229

225

991231083.UG.FTS.B,

29.49%,

11/23/23

.

99

97

991245290.UG.FTS.B,

29.49%,

11/23/23

.

49

40

991247741.UG.FTS.B,

29.49%,

11/23/23

.

47

47

991249348.UG.FTS.B,

29.49%,

11/23/23

.

70

68

991251163.UG.FTS.B,

29.49%,

11/23/23

.

71

69

991255103.UG.FTS.B,

29.49%,

11/23/23

.

40

39

991258669.UG.FTS.B,

29.49%,

11/23/23

.

214

210

991260078.UG.FTS.B,

29.49%,

11/23/23

.

124

122

991262693.UG.FTS.B,

29.49%,

11/23/23

.

296

291

991281491.UG.FTS.B,

29.49%,

11/23/23

.

73

74

991281569.UG.FTS.B,

29.49%,

11/23/23

.

379

373

991284842.UG.FTS.B,

29.49%,

11/23/23

.

90

88

991285300.UG.FTS.B,

29.49%,

11/23/23

.

94

92

991288271.UG.FTS.B,

29.49%,

11/23/23

.

16

16

991289078.UG.FTS.B,

29.49%,

11/23/23

.

16

15

991289130.UG.FTS.B,

29.49%,

11/23/23

.

33

3

991295168.UG.FTS.B,

29.49%,

11/23/23

.

41

40

991295844.UG.FTS.B,

29.49%,

11/23/23

.

6

6

991298112.UG.FTS.B,

29.49%,

11/23/23

.

17

17

991299164.UG.FTS.B,

29.49%,

11/23/23

.

225

221

991302254.UG.FTS.B,

29.49%,

11/23/23

.

161

24

991306864.UG.FTS.B,

29.49%,

11/23/23

.

179

26

991308824.UG.FTS.B,

29.49%,

11/23/23

.

59

58

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991317445.UG.FTS.B,

29.49%,

11/23/23

.

$

28

$

28

991318724.UG.FTS.B,

29.49%,

11/23/23

.

2

2

991319570.UG.FTS.B,

29.49%,

11/23/23

.

17

17

991114142.UG.FTS.B,

Zero

Cpn,

11/24/23

396

–

991187881.UG.FTS.B,

Zero

Cpn,

11/24/23

838

–

991295757.UG.FTS.B,

Zero

Cpn,

11/24/23

33

–

991111753.UG.FTS.B,

18.47%,

11/24/23

..

28

28

991194163.UG.FTS.B,

18.47%,

11/24/23

.

666

654

991239155.UG.FTS.B,

18.47%,

11/24/23

.

179

178

991285654.UG.FTS.B,

18.47%,

11/24/23

.

353

346

991117610.UG.FTS.B,

18.71%,

11/24/23

..

83

82

991143842.UG.FTS.B,

18.71%,

11/24/23

.

297

293

991181842.UG.FTS.B,

18.71%,

11/24/23

.

122

121

991162322.UG.FTS.B,

19.3%,

11/24/23

..

132

130

991286624.UG.FTS.B,

19.3%,

11/24/23

..

212

208

991140620.UG.FTS.B,

19.96%,

11/24/23

.

151

32

991181047.UG.FTS.B,

19.96%,

11/24/23

.

–

–

991237057.UG.FTS.B,

19.96%,

11/24/23

.

70

69

991298103.UG.FTS.B,

19.96%,

11/24/23

.

26

26

991152782.UG.FTS.B,

19.99%,

11/24/23

.

197

196

991169983.UG.FTS.B,

19.99%,

11/24/23

.

15

15

991140485.UG.FTS.B,

20.47%,

11/24/23

.

645

634

991214006.UG.FTS.B,

20.47%,

11/24/23

.

412

(1)

991293819.UG.FTS.B,

20.47%,

11/24/23

.

51

50

991139422.UG.FTS.B,

20.96%,

11/24/23

.

54

53

991266149.UG.FTS.B,

20.96%,

11/24/23

.

382

375

991320410.UG.FTS.B,

20.96%,

11/24/23

.

63

63

991120429.UG.FTS.B,

21.48%,

11/24/23

.

50

50

991173082.UG.FTS.B,

22.45%,

11/24/23

.

99

7

991143058.UG.FTS.B,

22.47%,

11/24/23

.

879

862

991158541.UG.FTS.B,

22.47%,

11/24/23

.

254

248

991180826.UG.FTS.B,

22.47%,

11/24/23

.

519

509

991232470.UG.FTS.B,

22.47%,

11/24/23

.

218

215

991127919.UG.FTS.B,

23.45%,

11/24/23

.

87

85

991198878.UG.FTS.B,

23.45%,

11/24/23

.

292

287

991184611.UG.FTS.B,

24.45%,

11/24/23

..

228

223

991145975.UG.FTS.B,

25.45%,

11/24/23

.

74

72

991191793.UG.FTS.B,

25.45%,

11/24/23

.

180

177

991213937.UG.FTS.B,

25.45%,

11/24/23

.

36

35

991283151.UG.FTS.B,

25.45%,

11/24/23

.

33

27

991112812.UG.FTS.B,

26.44%,

11/24/23

..

251

(6)

991158353.UG.FTS.B,

26.44%,

11/24/23

.

275

194

991320036.UG.FTS.B,

26.44%,

11/24/23

.

801

800

991111700.UG.FTS.B,

28.48%,

11/24/23

..

265

270

991112979.UG.FTS.B,

28.48%,

11/24/23

..

103

103

991113363.UG.FTS.B,

28.48%,

11/24/23

..

442

441

991115393.UG.FTS.B,

28.48%,

11/24/23

..

322

22

991116569.UG.FTS.B,

28.48%,

11/24/23

..

153

152

991129299.UG.FTS.B,

28.48%,

11/24/23

.

389

35

991133676.UG.FTS.B,

28.48%,

11/24/23

.

102

102

991144251.UG.FTS.B,

28.48%,

11/24/23

.

49

49

991164223.UG.FTS.B,

28.48%,

11/24/23

.

384

377

991186384.UG.FTS.B,

28.48%,

11/24/23

.

318

314

991195835.UG.FTS.B,

28.48%,

11/24/23

.

46

45

991200674.UG.FTS.B,

28.48%,

11/24/23

.

110

81

991202260.UG.FTS.B,

28.48%,

11/24/23

.

72

72

991247495.UG.FTS.B,

28.48%,

11/24/23

.

699

697

991249491.UG.FTS.B,

28.48%,

11/24/23

.

142

139

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

275

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991252747.UG.FTS.B,

28.48%,

11/24/23

.

$

376

$

372

991264497.UG.FTS.B,

28.48%,

11/24/23

.

47

46

991277786.UG.FTS.B,

28.48%,

11/24/23

.

58

58

991283897.UG.FTS.B,

28.48%,

11/24/23

.

62

62

991287114.UG.FTS.B,

28.48%,

11/24/23

.

61

61

991293396.UG.FTS.B,

28.48%,

11/24/23

.

62

62

991296637.UG.FTS.B,

28.48%,

11/24/23

.

139

137

991311973.UG.FTS.B,

28.48%,

11/24/23

.

34

33

991116274.UG.FTS.B,

29.48%,

11/24/23

..

40

40

991126500.UG.FTS.B,

29.48%,

11/24/23

.

31

31

991131505.UG.FTS.B,

29.48%,

11/24/23

.

130

128

991138467.UG.FTS.B,

29.48%,

11/24/23

.

128

131

991141890.UG.FTS.B,

29.48%,

11/24/23

.

328

22

991166412.UG.FTS.B,

29.48%,

11/24/23

.

369

25

991172445.UG.FTS.B,

29.48%,

11/24/23

.

94

93

991177274.UG.FTS.B,

29.48%,

11/24/23

.

380

374

991186088.UG.FTS.B,

29.48%,

11/24/23

.

73

72

991193732.UG.FTS.B,

29.48%,

11/24/23

.

23

23

991194464.UG.FTS.B,

29.48%,

11/24/23

.

54

53

991195206.UG.FTS.B,

29.48%,

11/24/23

.

728

726

991196155.UG.FTS.B,

29.48%,

11/24/23

.

181

181

991204785.UG.FTS.B,

29.48%,

11/24/23

.

59

59

991230254.UG.FTS.B,

29.48%,

11/24/23

.

0

0

991266181.UG.FTS.B,

29.48%,

11/24/23

.

204

203

991291786.UG.FTS.B,

29.48%,

11/24/23

.

68

(2)

991299399.UG.FTS.B,

29.48%,

11/24/23

.

1,060

73

991301096.UG.FTS.B,

29.48%,

11/24/23

.

168

11

991111006.UG.FTS.B,

29.49%,

11/24/23

..

1,064

1,055

991111038.UG.FTS.B,

29.49%,

11/24/23

..

234

232

991111093.UG.FTS.B,

29.49%,

11/24/23

..

37

36

991112188.UG.FTS.B,

29.49%,

11/24/23

..

27

26

991113444.UG.FTS.B,

29.49%,

11/24/23

..

36

36

991113880.UG.FTS.B,

29.49%,

11/24/23

..

415

411

991113956.UG.FTS.B,

29.49%,

11/24/23

..

230

229

991115610.UG.FTS.B,

29.49%,

11/24/23

..

93

91

991116051.UG.FTS.B,

29.49%,

11/24/23

..

333

330

991116355.UG.FTS.B,

29.49%,

11/24/23

..

3

1

991116379.UG.FTS.B,

29.49%,

11/24/23

..

43

43

991116687.UG.FTS.B,

29.49%,

11/24/23

..

220

219

991116817.UG.FTS.B,

29.49%,

11/24/23

..

386

380

991116891.UG.FTS.B,

29.49%,

11/24/23

..

21

21

991117468.UG.FTS.B,

29.49%,

11/24/23

..

82

81

991117471.UG.FTS.B,

29.49%,

11/24/23

..

129

128

991118192.UG.FTS.B,

29.49%,

11/24/23

..

237

16

991118862.UG.FTS.B,

29.49%,

11/24/23

..

5

5

991119315.UG.FTS.B,

29.49%,

11/24/23

..

174

173

991121555.UG.FTS.B,

29.49%,

11/24/23

.

122

121

991121895.UG.FTS.B,

29.49%,

11/24/23

.

16

16

991122999.UG.FTS.B,

29.49%,

11/24/23

.

13

12

991124071.UG.FTS.B,

29.49%,

11/24/23

.

33

33

991124243.UG.FTS.B,

29.49%,

11/24/23

.

77

76

991126125.UG.FTS.B,

29.49%,

11/24/23

.

56

56

991126374.UG.FTS.B,

29.49%,

11/24/23

.

81

81

991126756.UG.FTS.B,

29.49%,

11/24/23

.

189

28

991127327.UG.FTS.B,

29.49%,

11/24/23

.

49

48

991127999.UG.FTS.B,

29.49%,

11/24/23

.

122

120

991128578.UG.FTS.B,

29.49%,

11/24/23

.

93

93

991129361.UG.FTS.B,

29.49%,

11/24/23

.

73

73

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991129701.UG.FTS.B,

29.49%,

11/24/23

.

$

169

$

168

991131122.UG.FTS.B,

29.49%,

11/24/23

..

89

8

991132448.UG.FTS.B,

29.49%,

11/24/23

.

54

4

991132787.UG.FTS.B,

29.49%,

11/24/23

.

146

146

991133362.UG.FTS.B,

29.49%,

11/24/23

.

9

9

991133413.UG.FTS.B,

29.49%,

11/24/23

.

185

184

991133732.UG.FTS.B,

29.49%,

11/24/23

.

608

603

991133876.UG.FTS.B,

29.49%,

11/24/23

.

20

0

991135114.UG.FTS.B,

29.49%,

11/24/23

..

74

74

991136272.UG.FTS.B,

29.49%,

11/24/23

.

28

28

991136443.UG.FTS.B,

29.49%,

11/24/23

.

37

6

991136503.UG.FTS.B,

29.49%,

11/24/23

.

53

52

991137389.UG.FTS.B,

29.49%,

11/24/23

.

97

97

991138116.UG.FTS.B,

29.49%,

11/24/23

..

419

415

991141579.UG.FTS.B,

29.49%,

11/24/23

.

960

957

991142085.UG.FTS.B,

29.49%,

11/24/23

.

66

66

991142934.UG.FTS.B,

29.49%,

11/24/23

.

132

130

991143420.UG.FTS.B,

29.49%,

11/24/23

.

127

124

991143856.UG.FTS.B,

29.49%,

11/24/23

.

100

99

991146714.UG.FTS.B,

29.49%,

11/24/23

.

120

119

991148308.UG.FTS.B,

29.49%,

11/24/23

.

95

14

991148469.UG.FTS.B,

29.49%,

11/24/23

.

805

802

991153130.UG.FTS.B,

29.49%,

11/24/23

.

100

98

991159045.UG.FTS.B,

29.49%,

11/24/23

.

479

469

991163043.UG.FTS.B,

29.49%,

11/24/23

.

300

306

991167022.UG.FTS.B,

29.49%,

11/24/23

.

207

206

991169281.UG.FTS.B,

29.49%,

11/24/23

.

368

364

991169977.UG.FTS.B,

29.49%,

11/24/23

.

73

73

991170288.UG.FTS.B,

29.49%,

11/24/23

.

49

48

991172974.UG.FTS.B,

29.49%,

11/24/23

.

43

43

991177125.UG.FTS.B,

29.49%,

11/24/23

.

368

367

991177757.UG.FTS.B,

29.49%,

11/24/23

.

313

308

991179472.UG.FTS.B,

29.49%,

11/24/23

.

15

15

991180124.UG.FTS.B,

29.49%,

11/24/23

.

141

139

991181713.UG.FTS.B,

29.49%,

11/24/23

.

105

104

991183431.UG.FTS.B,

29.49%,

11/24/23

.

367

364

991183872.UG.FTS.B,

29.49%,

11/24/23

.

53

52

991184583.UG.FTS.B,

29.49%,

11/24/23

.

303

306

991184949.UG.FTS.B,

29.49%,

11/24/23

.

73

73

991188756.UG.FTS.B,

29.49%,

11/24/23

.

110

109

991190345.UG.FTS.B,

29.49%,

11/24/23

.

331

325

991195763.UG.FTS.B,

29.49%,

11/24/23

.

49

48

991201528.UG.FTS.B,

29.49%,

11/24/23

.

338

335

991203115.UG.FTS.B,

29.49%,

11/24/23

.

185

185

991209413.UG.FTS.B,

29.49%,

11/24/23

.

14

14

991218882.UG.FTS.B,

29.49%,

11/24/23

.

74

73

991220828.UG.FTS.B,

29.49%,

11/24/23

.

177

12

991226346.UG.FTS.B,

29.49%,

11/24/23

.

61

61

991228607.UG.FTS.B,

29.49%,

11/24/23

.

45

3

991228825.UG.FTS.B,

29.49%,

11/24/23

.

16

16

991231319.UG.FTS.B,

29.49%,

11/24/23

.

374

26

991232481.UG.FTS.B,

29.49%,

11/24/23

.

175

(6)

991232951.UG.FTS.B,

29.49%,

11/24/23

.

365

364

991235150.UG.FTS.B,

29.49%,

11/24/23

.

186

186

991237585.UG.FTS.B,

29.49%,

11/24/23

.

73

73

991238458.UG.FTS.B,

29.49%,

11/24/23

.

99

97

991244612.UG.FTS.B,

29.49%,

11/24/23

.

99

74

991254158.UG.FTS.B,

29.49%,

11/24/23

.

133

130

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

276

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991264083.UG.FTS.B,

29.49%,

11/24/23

.

$

54

$

53

991266029.UG.FTS.B,

29.49%,

11/24/23

.

135

133

991267673.UG.FTS.B,

29.49%,

11/24/23

.

182

179

991268324.UG.FTS.B,

29.49%,

11/24/23

.

291

285

991273104.UG.FTS.B,

29.49%,

11/24/23

.

161

158

991273117.UG.FTS.B,

29.49%,

11/24/23

.

107

77

991273517.UG.FTS.B,

29.49%,

11/24/23

.

60

59

991274370.UG.FTS.B,

29.49%,

11/24/23

.

102

100

991275657.UG.FTS.B,

29.49%,

11/24/23

.

38

38

991286119.UG.FTS.B,

29.49%,

11/24/23

.

109

8

991286399.UG.FTS.B,

29.49%,

11/24/23

.

198

195

991291764.UG.FTS.B,

29.49%,

11/24/23

.

44

43

991295722.UG.FTS.B,

29.49%,

11/24/23

.

103

101

991297157.UG.FTS.B,

29.49%,

11/24/23

.

72

70

991301090.UG.FTS.B,

29.49%,

11/24/23

.

69

68

991303617.UG.FTS.B,

29.49%,

11/24/23

.

8

8

991304636.UG.FTS.B,

29.49%,

11/24/23

.

221

217

991306346.UG.FTS.B,

29.49%,

11/24/23

.

157

11

991307974.UG.FTS.B,

29.49%,

11/24/23

.

197

17

991313269.UG.FTS.B,

29.49%,

11/24/23

.

55

54

991317368.UG.FTS.B,

29.49%,

11/24/23

.

15

15

991319625.UG.FTS.B,

29.49%,

11/24/23

.

51

52

991320273.UG.FTS.B,

29.49%,

11/24/23

.

1,204

1,209

991321558.UG.FTS.B,

29.49%,

11/24/23

.

253

255

991323727.UG.FTS.B,

29.49%,

11/24/23

.

70

5

991189992.UG.FTS.B,

29.99%,

11/24/23

.

26

26

991146906.UG.FTS.B,

Zero

Cpn,

11/25/23

1,050

–

991149922.UG.FTS.B,

Zero

Cpn,

11/25/23

251

–

991216486.UG.FTS.B,

Zero

Cpn,

11/25/23

47

–

991241653.UG.FTS.B,

Zero

Cpn,

11/25/23

75

–

991270957.UG.FTS.B,

Zero

Cpn,

11/25/23

39

–

991272243.UG.FTS.B,

Zero

Cpn,

11/25/23

53

–

991118045.UG.FTS.B,

16.49%,

11/25/23

..

111

110

991122562.UG.FTS.B,

18.71%,

11/25/23

.

273

276

991299945.UG.FTS.B,

18.71%,

11/25/23

.

71

71

991197823.UG.FTS.B,

19.3%,

11/25/23

..

712

721

991203810.UG.FTS.B,

19.3%,

11/25/23

..

20

20

991236365.UG.FTS.B,

19.3%,

11/25/23

..

144

141

991235580.UG.FTS.B,

19.96%,

11/25/23

.

124

124

991155431.UG.FTS.B,

19.99%,

11/25/23

.

248

250

991209221.UG.FTS.B,

19.99%,

11/25/23

.

32

32

991117766.UG.FTS.B,

20.47%,

11/25/23

..

125

126

991124023.UG.FTS.B,

20.96%,

11/25/23

.

160

162

991136422.UG.FTS.B,

20.96%,

11/25/23

.

97

98

991143031.UG.FTS.B,

21.48%,

11/25/23

.

216

213

991158868.UG.FTS.B,

21.48%,

11/25/23

.

10

10

991162068.UG.FTS.B,

21.48%,

11/25/23

.

188

190

991167293.UG.FTS.B,

21.48%,

11/25/23

.

359

363

991215225.UG.FTS.B,

21.48%,

11/25/23

.

143

144

991307000.UG.FTS.B,

21.48%,

11/25/23

.

65

65

991135829.UG.FTS.B,

22.47%,

11/25/23

.

1,243

1,221

991136740.UG.FTS.B,

22.47%,

11/25/23

.

270

265

991202182.UG.FTS.B,

23.45%,

11/25/23

.

18

1

991185187.UG.FTS.B,

24.45%,

11/25/23

.

126

91

991254102.UG.FTS.B,

25.44%,

11/25/23

.

114

114

991123374.UG.FTS.B,

25.45%,

11/25/23

.

727

732

991224591.UG.FTS.B,

26.44%,

11/25/23

.

305

224

991225297.UG.FTS.B,

27.99%,

11/25/23

.

20

3

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991132881.UG.FTS.B,

28.48%,

11/25/23

.

$

80

$

82

991137326.UG.FTS.B,

28.48%,

11/25/23

.

11

11

991153329.UG.FTS.B,

28.48%,

11/25/23

.

676

518

991154995.UG.FTS.B,

28.48%,

11/25/23

.

125

94

991162513.UG.FTS.B,

28.48%,

11/25/23

.

153

157

991175059.UG.FTS.B,

28.48%,

11/25/23

.

139

140

991182577.UG.FTS.B,

28.48%,

11/25/23

.

31

32

991302098.UG.FTS.B,

28.48%,

11/25/23

.

65

66

991320459.UG.FTS.B,

28.48%,

11/25/23

.

96

97

991117520.UG.FTS.B,

29.48%,

11/25/23

..

284

291

991127249.UG.FTS.B,

29.48%,

11/25/23

.

740

760

991133557.UG.FTS.B,

29.48%,

11/25/23

.

103

7

991133616.UG.FTS.B,

29.48%,

11/25/23

.

183

188

991144737.UG.FTS.B,

29.48%,

11/25/23

.

29

5

991170564.UG.FTS.B,

29.48%,

11/25/23

.

91

93

991175629.UG.FTS.B,

29.48%,

11/25/23

.

14

14

991263261.UG.FTS.B,

29.48%,

11/25/23

.

42

42

991294236.UG.FTS.B,

29.48%,

11/25/23

.

7

7

991299279.UG.FTS.B,

29.48%,

11/25/23

.

70

70

991116246.UG.FTS.B,

29.49%,

11/25/23

..

411

29

991116277.UG.FTS.B,

29.49%,

11/25/23

..

58

59

991117185.UG.FTS.B,

29.49%,

11/25/23

..

580

586

991117344.UG.FTS.B,

29.49%,

11/25/23

..

134

133

991117710.UG.FTS.B,

29.49%,

11/25/23

..

5

5

991117874.UG.FTS.B,

29.49%,

11/25/23

..

87

86

991119954.UG.FTS.B,

29.49%,

11/25/23

..

575

590

991121817.UG.FTS.B,

29.49%,

11/25/23

.

46

46

991125732.UG.FTS.B,

29.49%,

11/25/23

.

135

138

991126529.UG.FTS.B,

29.49%,

11/25/23

.

125

126

991126560.UG.FTS.B,

29.49%,

11/25/23

.

611

626

991133138.UG.FTS.B,

29.49%,

11/25/23

.

133

12

991136392.UG.FTS.B,

29.49%,

11/25/23

.

51

51

991138091.UG.FTS.B,

29.49%,

11/25/23

.

116

119

991138524.UG.FTS.B,

29.49%,

11/25/23

.

48

49

991139918.UG.FTS.B,

29.49%,

11/25/23

.

235

240

991140769.UG.FTS.B,

29.49%,

11/25/23

.

23

23

991149857.UG.FTS.B,

29.49%,

11/25/23

.

334

50

991152886.UG.FTS.B,

29.49%,

11/25/23

.

31

31

991154908.UG.FTS.B,

29.49%,

11/25/23

.

148

10

991159429.UG.FTS.B,

29.49%,

11/25/23

.

29

2

991175893.UG.FTS.B,

29.49%,

11/25/23

.

117

8

991180408.UG.FTS.B,

29.49%,

11/25/23

.

44

45

991181990.UG.FTS.B,

29.49%,

11/25/23

.

321

323

991182336.UG.FTS.B,

29.49%,

11/25/23

.

49

50

991182403.UG.FTS.B,

29.49%,

11/25/23

.

54

55

991185146.UG.FTS.B,

29.49%,

11/25/23

.

502

35

991190576.UG.FTS.B,

29.49%,

11/25/23

.

695

180

991195728.UG.FTS.B,

29.49%,

11/25/23

.

226

230

991197501.UG.FTS.B,

29.49%,

11/25/23

.

225

(2)

991200425.UG.FTS.B,

29.49%,

11/25/23

.

68

70

991203943.UG.FTS.B,

29.49%,

11/25/23

.

169

173

991206045.UG.FTS.B,

29.49%,

11/25/23

.

209

215

991213486.UG.FTS.B,

29.49%,

11/25/23

.

89

6

991214609.UG.FTS.B,

29.49%,

11/25/23

.

220

226

991215471.UG.FTS.B,

29.49%,

11/25/23

.

585

601

991219285.UG.FTS.B,

29.49%,

11/25/23

.

83

86

991221808.UG.FTS.B,

29.49%,

11/25/23

.

594

604

991223296.UG.FTS.B,

29.49%,

11/25/23

.

631

92

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

277

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991226457.UG.FTS.B,

29.49%,

11/25/23

.

$

0

$

0

991229707.UG.FTS.B,

29.49%,

11/25/23

.

25

25

991241831.UG.FTS.B,

29.49%,

11/25/23

.

125

126

991244834.UG.FTS.B,

29.49%,

11/25/23

.

1,879

1,924

991259619.UG.FTS.B,

29.49%,

11/25/23

.

141

145

991266243.UG.FTS.B,

29.49%,

11/25/23

.

281

20

991266282.UG.FTS.B,

29.49%,

11/25/23

.

87

90

991266883.UG.FTS.B,

29.49%,

11/25/23

.

146

149

991273128.UG.FTS.B,

29.49%,

11/25/23

.

12

12

991273336.UG.FTS.B,

29.49%,

11/25/23

.

88

88

991281007.UG.FTS.B,

29.49%,

11/25/23

.

44

7

991283457.UG.FTS.B,

29.49%,

11/25/23

.

–

–

991283686.UG.FTS.B,

29.49%,

11/25/23

.

12

12

991284531.UG.FTS.B,

29.49%,

11/25/23

.

47

7

991285882.UG.FTS.B,

29.49%,

11/25/23

.

52

53

991291409.UG.FTS.B,

29.49%,

11/25/23

.

162

163

991297846.UG.FTS.B,

29.49%,

11/25/23

.

262

263

991307842.UG.FTS.B,

29.49%,

11/25/23

.

34

35

991309325.UG.FTS.B,

29.49%,

11/25/23

.

142

143

991321006.UG.FTS.B,

29.49%,

11/25/23

.

53

54

991322618.UG.FTS.B,

29.49%,

11/25/23

.

72

73

991123726.UG.FTS.B,

Zero

Cpn,

11/26/23

154

–

991131887.UG.FTS.B,

Zero

Cpn,

11/26/23

1,061

–

991309602.UG.FTS.B,

17.49%,

11/26/23

.

129

127

991211526.UG.FTS.B,

18.47%,

11/26/23

.

180

177

991221375.UG.FTS.B,

18.47%,

11/26/23

.

103

101

991137070.UG.FTS.B,

18.71%,

11/26/23

.

466

457

991164225.UG.FTS.B,

18.71%,

11/26/23

.

131

128

991172152.UG.FTS.B,

18.71%,

11/26/23

.

151

19

991173523.UG.FTS.B,

18.71%,

11/26/23

.

94

93

991178470.UG.FTS.B,

18.71%,

11/26/23

.

117

115

991189138.UG.FTS.B,

18.71%,

11/26/23

.

53

52

991265843.UG.FTS.B,

18.71%,

11/26/23

.

232

228

991151957.UG.FTS.B,

19.3%,

11/26/23

..

50

39

991233589.UG.FTS.B,

19.3%,

11/26/23

..

282

278

991142654.UG.FTS.B,

19.96%,

11/26/23

.

358

353

991156209.UG.FTS.B,

19.96%,

11/26/23

.

3

3

991171881.UG.FTS.B,

20.47%,

11/26/23

.

53

52

991214811.UG.FTS.B,

20.47%,

11/26/23

.

20

20

991215843.UG.FTS.B,

20.47%,

11/26/23

.

357

352

991240446.UG.FTS.B,

20.47%,

11/26/23

.

712

701

991138460.UG.FTS.B,

20.96%,

11/26/23

.

9

9

991138527.UG.FTS.B,

20.96%,

11/26/23

.

115

113

991182595.UG.FTS.B,

20.96%,

11/26/23

.

257

34

991214906.UG.FTS.B,

20.96%,

11/26/23

.

286

281

991206794.UG.FTS.B,

21.47%,

11/26/23

.

15

15

991158778.UG.FTS.B,

21.48%,

11/26/23

.

5

5

991199452.UG.FTS.B,

21.48%,

11/26/23

.

206

203

991289831.UG.FTS.B,

21.48%,

11/26/23

.

66

65

991177107.UG.FTS.B,

22.45%,

11/26/23

.

249

243

991185688.UG.FTS.B,

22.47%,

11/26/23

.

235

231

991304818.UG.FTS.B,

22.47%,

11/26/23

.

348

340

991332004.UG.FTS.B,

22.47%,

11/26/23

.

194

13

991166149.UG.FTS.B,

23.45%,

11/26/23

.

199

196

991142815.UG.FTS.B,

25.44%,

11/26/23

.

126

124

991323681.UG.FTS.B,

25.44%,

11/26/23

.

72

70

991129113.UG.FTS.B,

25.45%,

11/26/23

..

211

154

991159019.UG.FTS.B,

25.45%,

11/26/23

.

114

16

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991228317.UG.FTS.B,

25.45%,

11/26/23

.

$

90

$

89

991132032.UG.FTS.B,

27.95%,

11/26/23

.

541

540

991125699.UG.FTS.B,

29.48%,

11/26/23

.

98

97

991129050.UG.FTS.B,

29.48%,

11/26/23

.

1,409

1,407

991142726.UG.FTS.B,

29.48%,

11/26/23

.

187

187

991130256.UG.FTS.B,

29.49%,

11/26/23

.

114

114

991137393.UG.FTS.B,

29.49%,

11/26/23

.

60

4

991137887.UG.FTS.B,

29.49%,

11/26/23

.

110

(3)

991144395.UG.FTS.B,

29.49%,

11/26/23

.

67

66

991145450.UG.FTS.B,

29.49%,

11/26/23

.

16

16

991136966.UG.FTS.B,

Zero

Cpn,

11/27/23

812

–

991191280.UG.FTS.B,

Zero

Cpn,

11/27/23

455

–

991136553.UG.FTS.B,

16.49%,

11/27/23

.

529

523

991329419.UG.FTS.B,

17.49%,

11/27/23

.

103

101

991192089.UG.FTS.B,

18.3%,

11/27/23

..

398

31

991133319.UG.FTS.B,

18.47%,

11/27/23

.

104

103

991253352.UG.FTS.B,

18.71%,

11/27/23

.

175

173

991259824.UG.FTS.B,

18.71%,

11/27/23

.

37

36

991265318.UG.FTS.B,

18.71%,

11/27/23

.

320

316

991135954.UG.FTS.B,

19.3%,

11/27/23

..

225

223

991138758.UG.FTS.B,

19.3%,

11/27/23

..

514

507

991145476.UG.FTS.B,

19.3%,

11/27/23

..

451

446

991321995.UG.FTS.B,

19.3%,

11/27/23

..

169

166

991186041.UG.FTS.B,

19.96%,

11/27/23

.

320

315

991215161.UG.FTS.B,

19.96%,

11/27/23

.

1,568

1,546

991217859.UG.FTS.B,

19.96%,

11/27/23

.

179

177

991254888.UG.FTS.B,

19.96%,

11/27/23

.

31

31

991132191.UG.FTS.B,

20.47%,

11/27/23

.

82

81

991137872.UG.FTS.B,

20.47%,

11/27/23

.

164

13

991163018.UG.FTS.B,

20.47%,

11/27/23

.

347

341

991239447.UG.FTS.B,

20.47%,

11/27/23

.

1,853

1,828

991331220.UG.FTS.B,

20.47%,

11/27/23

.

276

271

991133609.UG.FTS.B,

20.96%,

11/27/23

.

382

376

991189297.UG.FTS.B,

20.96%,

11/27/23

.

286

282

991238556.UG.FTS.B,

20.96%,

11/27/23

.

106

104

991243955.UG.FTS.B,

20.96%,

11/27/23

.

–

–

991268297.UG.FTS.B,

20.96%,

11/27/23

.

106

103

991131638.UG.FTS.B,

21.48%,

11/27/23

.

211

207

991132156.UG.FTS.B,

21.48%,

11/27/23

.

37

37

991132245.UG.FTS.B,

21.48%,

11/27/23

.

222

218

991132595.UG.FTS.B,

21.48%,

11/27/23

.

108

106

991209953.UG.FTS.B,

21.48%,

11/27/23

.

2,091

453

991242233.UG.FTS.B,

21.48%,

11/27/23

.

75

73

991135729.UG.FTS.B,

22.45%,

11/27/23

.

255

20

991136945.UG.FTS.B,

22.45%,

11/27/23

.

269

265

991139013.UG.FTS.B,

22.47%,

11/27/23

.

1,901

1,868

991140714.UG.FTS.B,

22.47%,

11/27/23

.

844

830

991140943.UG.FTS.B,

22.47%,

11/27/23

.

548

539

991140958.UG.FTS.B,

22.47%,

11/27/23

.

294

289

991228377.UG.FTS.B,

22.47%,

11/27/23

.

135

133

991141640.UG.FTS.B,

23.45%,

11/27/23

.

1,042

1,023

991142813.UG.FTS.B,

23.45%,

11/27/23

.

222

218

991169567.UG.FTS.B,

23.45%,

11/27/23

.

182

179

991133067.UG.FTS.B,

28.48%,

11/27/23

.

115

114

991138558.UG.FTS.B,

28.48%,

11/27/23

.

6

6

991144384.UG.FTS.B,

28.48%,

11/27/23

.

79

66

991144463.UG.FTS.B,

28.48%,

11/27/23

.

120

119

991145357.UG.FTS.B,

28.48%,

11/27/23

.

347

342

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

278

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991147020.UG.FTS.B,

28.48%,

11/27/23

.

$

916

$

904

991150233.UG.FTS.B,

28.48%,

11/27/23

.

73

73

991152423.UG.FTS.B,

28.48%,

11/27/23

.

294

294

991152490.UG.FTS.B,

28.48%,

11/27/23

.

18

3

991153658.UG.FTS.B,

28.48%,

11/27/23

.

81

81

991155704.UG.FTS.B,

28.48%,

11/27/23

.

189

27

991156326.UG.FTS.B,

28.48%,

11/27/23

.

203

203

991157290.UG.FTS.B,

28.48%,

11/27/23

.

151

150

991136726.UG.FTS.B,

29.48%,

11/27/23

.

290

290

991136661.UG.FTS.B,

29.49%,

11/27/23

.

20

19

991138698.UG.FTS.B,

29.49%,

11/27/23

.

23

2

991139326.UG.FTS.B,

29.49%,

11/27/23

.

80

80

991139435.UG.FTS.B,

29.49%,

11/27/23

.

745

68

991139893.UG.FTS.B,

29.49%,

11/27/23

.

20

20

991140337.UG.FTS.B,

29.49%,

11/27/23

.

126

126

991142786.UG.FTS.B,

29.49%,

11/27/23

.

997

996

991144290.UG.FTS.B,

29.49%,

11/27/23

.

104

7

991144902.UG.FTS.B,

29.49%,

11/27/23

.

204

204

991145131.UG.FTS.B,

29.49%,

11/27/23

.

93

93

991146062.UG.FTS.B,

29.49%,

11/27/23

.

13

13

991146276.UG.FTS.B,

29.49%,

11/27/23

.

113

112

991146368.UG.FTS.B,

29.49%,

11/27/23

.

434

432

991146845.UG.FTS.B,

29.49%,

11/27/23

.

39

38

991147056.UG.FTS.B,

29.49%,

11/27/23

.

397

27

991147400.UG.FTS.B,

29.49%,

11/27/23

.

46

46

991147659.UG.FTS.B,

29.49%,

11/27/23

.

891

878

991148156.UG.FTS.B,

29.49%,

11/27/23

.

38

3

991150932.UG.FTS.B,

29.49%,

11/27/23

.

398

398

991151871.UG.FTS.B,

29.49%,

11/27/23

.

192

189

991155637.UG.FTS.B,

29.49%,

11/27/23

.

450

448

991156780.UG.FTS.B,

29.49%,

11/27/23

.

1,551

1,106

991157114.UG.FTS.B,

29.49%,

11/27/23

..

110

110

991143545.UG.FTS.B,

Zero

Cpn,

11/28/23

947

–

991144437.UG.FTS.B,

Zero

Cpn,

11/28/23

260

–

991146160.UG.FTS.B,

Zero

Cpn,

11/28/23

285

–

991151395.UG.FTS.B,

Zero

Cpn,

11/28/23

278

–

991151955.UG.FTS.B,

Zero

Cpn,

11/28/23

56

–

991359039.UG.FTS.B,

Zero

Cpn,

11/28/23

65

–

991161225.UG.FTS.B,

15.47%,

11/28/23

.

19

19

991170826.UG.FTS.B,

15.47%,

11/28/23

.

426

422

991165100.UG.FTS.B,

16.49%,

11/28/23

.

393

387

991197118.UG.FTS.B,

16.49%,

11/28/23

..

494

489

991246436.UG.FTS.B,

16.49%,

11/28/23

.

173

171

991145279.UG.FTS.B,

17.49%,

11/28/23

.

109

108

991313187.UG.FTS.B,

17.49%,

11/28/23

.

55

54

991336600.UG.FTS.B,

17.49%,

11/28/23

.

12

12

991251734.UG.FTS.B,

17.71%,

11/28/23

.

207

205

991143133.UG.FTS.B,

18.47%,

11/28/23

.

246

243

991353617.UG.FTS.B,

18.47%,

11/28/23

.

32

32

991231930.UG.FTS.B,

18.71%,

11/28/23

.

899

116

991236422.UG.FTS.B,

18.71%,

11/28/23

.

21

21

991143087.UG.FTS.B,

19.3%,

11/28/23

..

376

370

991216248.UG.FTS.B,

19.3%,

11/28/23

..

156

112

991326653.UG.FTS.B,

19.3%,

11/28/23

..

183

14

991143358.UG.FTS.B,

19.96%,

11/28/23

.

52

52

991203546.UG.FTS.B,

19.96%,

11/28/23

.

23

0

991228702.UG.FTS.B,

19.96%,

11/28/23

.

979

77

991149691.UG.FTS.B,

20.47%,

11/28/23

.

13

13

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991247852.UG.FTS.B,

20.96%,

11/28/23

.

$

652

$

645

991267255.UG.FTS.B,

20.96%,

11/28/23

.

1,048

1,031

991143184.UG.FTS.B,

21.48%,

11/28/23

.

108

107

991154983.UG.FTS.B,

21.48%,

11/28/23

.

98

96

991163228.UG.FTS.B,

21.48%,

11/28/23

.

0

0

991178942.UG.FTS.B,

21.48%,

11/28/23

.

16

15

991251935.UG.FTS.B,

21.48%,

11/28/23

.

17

17

991253242.UG.FTS.B,

21.48%,

11/28/23

.

41

40

991266635.UG.FTS.B,

21.48%,

11/28/23

.

464

457

991299548.UG.FTS.B,

21.48%,

11/28/23

.

20

20

991353299.UG.FTS.B,

21.48%,

11/28/23

.

102

101

991240871.UG.FTS.B,

22.45%,

11/28/23

.

287

280

991204646.UG.FTS.B,

22.47%,

11/28/23

.

1,338

104

991147040.UG.FTS.B,

25.45%,

11/28/23

.

70

69

991234089.UG.FTS.B,

26.44%,

11/28/23

.

100

99

991145083.UG.FTS.B,

28.48%,

11/28/23

.

40

39

991145828.UG.FTS.B,

28.48%,

11/28/23

.

15

15

991148120.UG.FTS.B,

28.48%,

11/28/23

.

250

247

991150733.UG.FTS.B,

28.48%,

11/28/23

.

109

109

991180513.UG.FTS.B,

28.48%,

11/28/23

.

219

219

991143080.UG.FTS.B,

29.48%,

11/28/23

.

34

28

991150987.UG.FTS.B,

29.48%,

11/28/23

.

51

50

991152486.UG.FTS.B,

29.48%,

11/28/23

.

48

48

991159918.UG.FTS.B,

29.48%,

11/28/23

.

33

33

991142853.UG.FTS.B,

29.49%,

11/28/23

.

70

70

991143405.UG.FTS.B,

29.49%,

11/28/23

.

281

280

991143462.UG.FTS.B,

29.49%,

11/28/23

.

31

5

991143564.UG.FTS.B,

29.49%,

11/28/23

.

229

226

991145456.UG.FTS.B,

29.49%,

11/28/23

.

124

124

991146115.UG.FTS.B,

29.49%,

11/28/23

..

1,221

83

991146647.UG.FTS.B,

29.49%,

11/28/23

.

34

34

991146995.UG.FTS.B,

29.49%,

11/28/23

.

137

136

991147339.UG.FTS.B,

29.49%,

11/28/23

.

20

20

991148356.UG.FTS.B,

29.49%,

11/28/23

.

44

44

991149449.UG.FTS.B,

29.49%,

11/28/23

.

1,472

1,470

991151596.UG.FTS.B,

29.49%,

11/28/23

.

122

122

991151725.UG.FTS.B,

29.49%,

11/28/23

.

–

–

991152971.UG.FTS.B,

29.49%,

11/28/23

.

28

28

991155818.UG.FTS.B,

29.49%,

11/28/23

.

110

110

991156110.UG.FTS.B,

29.49%,

11/28/23

..

125

123

991156394.UG.FTS.B,

29.49%,

11/28/23

.

137

136

991156943.UG.FTS.B,

29.49%,

11/28/23

.

108

107

991162373.UG.FTS.B,

29.49%,

11/28/23

.

377

371

991163948.UG.FTS.B,

29.49%,

11/28/23

.

63

62

991185362.UG.FTS.B,

29.49%,

11/28/23

.

33

33

991247998.UG.FTS.B,

29.49%,

11/28/23

.

74

5

991311610.UG.FTS.B,

29.49%,

11/28/23

.

89

6

991151405.UG.FTS.B,

Zero

Cpn,

11/29/23

84

–

991152403.UG.FTS.B,

Zero

Cpn,

11/29/23

450

–

991152637.UG.FTS.B,

Zero

Cpn,

11/29/23

383

–

991153646.UG.FTS.B,

Zero

Cpn,

11/29/23

253

–

991158113.UG.FTS.B,

Zero

Cpn,

11/29/23

560

–

991341179.UG.FTS.B,

17.49%,

11/29/23

.

47

38

991189469.UG.FTS.B,

18.47%,

11/29/23

.

285

282

991341533.UG.FTS.B,

18.47%,

11/29/23

.

340

335

991166023.UG.FTS.B,

18.71%,

11/29/23

.

758

748

991265671.UG.FTS.B,

18.71%,

11/29/23

.

2

2

991156374.UG.FTS.B,

18.96%,

11/29/23

.

195

131

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

279

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991154443.UG.FTS.B,

19.3%,

11/29/23

..

$

202

$

200

991225584.UG.FTS.B,

19.3%,

11/29/23

..

172

170

991272902.UG.FTS.B,

19.3%,

11/29/23

..

20

20

991166587.UG.FTS.B,

19.96%,

11/29/23

.

289

284

991181147.UG.FTS.B,

19.96%,

11/29/23

..

293

288

991224874.UG.FTS.B,

19.96%,

11/29/23

.

569

561

991268171.UG.FTS.B,

19.96%,

11/29/23

.

20

20

991153561.UG.FTS.B,

19.99%,

11/29/23

.

0

0

991150475.UG.FTS.B,

20.96%,

11/29/23

.

243

180

991203879.UG.FTS.B,

20.96%,

11/29/23

.

49

48

991222676.UG.FTS.B,

20.96%,

11/29/23

.

116

114

991241752.UG.FTS.B,

20.96%,

11/29/23

.

83

81

991260042.UG.FTS.B,

20.96%,

11/29/23

.

77

76

991270604.UG.FTS.B,

21.47%,

11/29/23

.

356

351

991155085.UG.FTS.B,

21.48%,

11/29/23

.

75

74

991164880.UG.FTS.B,

21.48%,

11/29/23

.

264

260

991175310.UG.FTS.B,

21.48%,

11/29/23

.

–

–

991221998.UG.FTS.B,

21.48%,

11/29/23

.

46

45

991175889.UG.FTS.B,

22.47%,

11/29/23

.

57

56

991178891.UG.FTS.B,

22.47%,

11/29/23

.

320

313

991180996.UG.FTS.B,

22.47%,

11/29/23

.

127

125

991182787.UG.FTS.B,

22.47%,

11/29/23

.

69

68

991217581.UG.FTS.B,

22.47%,

11/29/23

.

331

325

991264092.UG.FTS.B,

22.47%,

11/29/23

.

187

184

991187974.UG.FTS.B,

24.45%,

11/29/23

.

51

50

991155440.UG.FTS.B,

26.44%,

11/29/23

.

19

19

991151787.UG.FTS.B,

27.99%,

11/29/23

.

135

134

991150805.UG.FTS.B,

28.48%,

11/29/23

.

49

49

991151398.UG.FTS.B,

28.48%,

11/29/23

.

137

137

991152245.UG.FTS.B,

28.48%,

11/29/23

.

6

6

991152275.UG.FTS.B,

28.48%,

11/29/23

.

38

38

991152875.UG.FTS.B,

28.48%,

11/29/23

.

755

755

991154426.UG.FTS.B,

28.48%,

11/29/23

.

29

29

991159363.UG.FTS.B,

28.48%,

11/29/23

.

50

49

991163765.UG.FTS.B,

28.48%,

11/29/23

.

49

48

991172683.UG.FTS.B,

28.48%,

11/29/23

.

119

119

991369543.UG.FTS.B,

28.48%,

11/29/23

.

35

35

991149901.UG.FTS.B,

29.48%,

11/29/23

.

55

55

991159843.UG.FTS.B,

29.48%,

11/29/23

.

118

117

991166383.UG.FTS.B,

29.48%,

11/29/23

.

60

60

991198051.UG.FTS.B,

29.48%,

11/29/23

.

64

64

991296091.UG.FTS.B,

29.48%,

11/29/23

.

230

18

991149959.UG.FTS.B,

29.49%,

11/29/23

.

457

342

991150263.UG.FTS.B,

29.49%,

11/29/23

.

166

165

991150593.UG.FTS.B,

29.49%,

11/29/23

.

402

401

991150632.UG.FTS.B,

29.49%,

11/29/23

.

282

281

991151190.UG.FTS.B,

29.49%,

11/29/23

..

163

40

991151457.UG.FTS.B,

29.49%,

11/29/23

.

85

84

991151949.UG.FTS.B,

29.49%,

11/29/23

.

–

–

991152047.UG.FTS.B,

29.49%,

11/29/23

.

439

439

991152253.UG.FTS.B,

29.49%,

11/29/23

.

44

43

991152406.UG.FTS.B,

29.49%,

11/29/23

.

157

156

991152608.UG.FTS.B,

29.49%,

11/29/23

.

49

49

991152994.UG.FTS.B,

29.49%,

11/29/23

.

148

148

991153221.UG.FTS.B,

29.49%,

11/29/23

.

561

561

991153486.UG.FTS.B,

29.49%,

11/29/23

.

17

17

991153761.UG.FTS.B,

29.49%,

11/29/23

.

97

97

991154241.UG.FTS.B,

29.49%,

11/29/23

.

512

511

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991154304.UG.FTS.B,

29.49%,

11/29/23

.

$

173

$

173

991154396.UG.FTS.B,

29.49%,

11/29/23

.

20

20

991154754.UG.FTS.B,

29.49%,

11/29/23

.

1,172

1,167

991154875.UG.FTS.B,

29.49%,

11/29/23

.

–

–

991154981.UG.FTS.B,

29.49%,

11/29/23

.

1,091

1,086

991155098.UG.FTS.B,

29.49%,

11/29/23

.

106

104

991155239.UG.FTS.B,

29.49%,

11/29/23

.

138

137

991155379.UG.FTS.B,

29.49%,

11/29/23

.

46

46

991156004.UG.FTS.B,

29.49%,

11/29/23

.

139

10

991156356.UG.FTS.B,

29.49%,

11/29/23

.

254

254

991156866.UG.FTS.B,

29.49%,

11/29/23

.

1,200

1,198

991157467.UG.FTS.B,

29.49%,

11/29/23

.

151

151

991158478.UG.FTS.B,

29.49%,

11/29/23

.

309

304

991164288.UG.FTS.B,

29.49%,

11/29/23

.

227

226

991199483.UG.FTS.B,

29.49%,

11/29/23

.

167

164

991219555.UG.FTS.B,

29.49%,

11/29/23

.

646

646

991222123.UG.FTS.B,

29.49%,

11/29/23

.

100

99

991242992.UG.FTS.B,

29.49%,

11/29/23

.

602

593

991245420.UG.FTS.B,

29.49%,

11/29/23

.

–

–

991254230.UG.FTS.B,

29.49%,

11/29/23

.

174

129

991255171.UG.FTS.B,

29.49%,

11/29/23

.

407

(13)

991279680.UG.FTS.B,

29.49%,

11/29/23

.

110

109

991344192.UG.FTS.B,

29.49%,

11/29/23

.

9

9

991352105.UG.FTS.B,

29.49%,

11/29/23

.

102

7

991361899.UG.FTS.B,

29.49%,

11/29/23

.

51

51

991368032.UG.FTS.B,

29.49%,

11/29/23

.

37

36

991368726.UG.FTS.B,

29.49%,

11/29/23

.

54

54

991155740.UG.FTS.B,

Zero

Cpn,

11/30/23

50

–

991176302.UG.FTS.B,

Zero

Cpn,

11/30/23

2,486

–

991200192.UG.FTS.B,

Zero

Cpn,

11/30/23

44

–

991267070.UG.FTS.B,

Zero

Cpn,

11/30/23

455

–

991280373.UG.FTS.B,

Zero

Cpn,

11/30/23

93

–

991354851.UG.FTS.B,

Zero

Cpn,

11/30/23

76

–

991222182.UG.FTS.B,

18.47%,

11/30/23

.

200

198

991366927.UG.FTS.B,

18.71%,

11/30/23

.

114

112

991195485.UG.FTS.B,

19.96%,

11/30/23

.

123

121

991227513.UG.FTS.B,

19.96%,

11/30/23

.

76

75

991291362.UG.FTS.B,

19.99%,

11/30/23

.

199

199

991227110.UG.FTS.B,

20.96%,

11/30/23

.

147

145

991173726.UG.FTS.B,

21.48%,

11/30/23

.

278

273

991271179.UG.FTS.B,

21.48%,

11/30/23

.

47

47

991292060.UG.FTS.B,

21.48%,

11/30/23

.

47

7

991242328.UG.FTS.B,

22.47%,

11/30/23

.

97

95

991251644.UG.FTS.B,

22.47%,

11/30/23

.

63

62

991261672.UG.FTS.B,

22.47%,

11/30/23

.

469

461

991290115.UG.FTS.B,

22.47%,

11/30/23

.

2

2

991245804.UG.FTS.B,

25.45%,

11/30/23

.

139

137

991189905.UG.FTS.B,

26.44%,

11/30/23

.

71

70

991160092.UG.FTS.B,

27.99%,

11/30/23

.

208

208

991156511.UG.FTS.B,

28.48%,

11/30/23

..

1,305

1,300

991233145.UG.FTS.B,

28.48%,

11/30/23

.

69

69

991241624.UG.FTS.B,

28.48%,

11/30/23

.

111

110

991250460.UG.FTS.B,

28.48%,

11/30/23

.

16

16

991293404.UG.FTS.B,

28.48%,

11/30/23

.

231

231

991298644.UG.FTS.B,

28.48%,

11/30/23

.

52

8

991319816.UG.FTS.B,

28.48%,

11/30/23

.

29

29

991328492.UG.FTS.B,

28.48%,

11/30/23

.

29

29

991363577.UG.FTS.B,

28.48%,

11/30/23

.

86

87

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

280

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991155726.UG.FTS.B,

29.48%,

11/30/23

.

$

63

$

(2)

991160322.UG.FTS.B,

29.48%,

11/30/23

.

352

352

991165420.UG.FTS.B,

29.48%,

11/30/23

.

379

374

991184682.UG.FTS.B,

29.48%,

11/30/23

.

34

34

991218132.UG.FTS.B,

29.48%,

11/30/23

.

331

331

991232811.UG.FTS.B,

29.48%,

11/30/23

.

139

138

991233786.UG.FTS.B,

29.48%,

11/30/23

.

153

153

991240768.UG.FTS.B,

29.48%,

11/30/23

.

233

230

991248660.UG.FTS.B,

29.48%,

11/30/23

.

168

168

991260167.UG.FTS.B,

29.48%,

11/30/23

.

55

54

991264514.UG.FTS.B,

29.48%,

11/30/23

.

0

0

991290564.UG.FTS.B,

29.48%,

11/30/23

.

50

50

991309534.UG.FTS.B,

29.48%,

11/30/23

.

3

3

991156903.UG.FTS.B,

29.49%,

11/30/23

.

182

182

991157990.UG.FTS.B,

29.49%,

11/30/23

.

31

2

991158657.UG.FTS.B,

29.49%,

11/30/23

.

53

53

991160267.UG.FTS.B,

29.49%,

11/30/23

.

567

401

991161705.UG.FTS.B,

29.49%,

11/30/23

.

75

75

991161838.UG.FTS.B,

29.49%,

11/30/23

.

266

261

991163851.UG.FTS.B,

29.49%,

11/30/23

.

100

100

991164648.UG.FTS.B,

29.49%,

11/30/23

.

241

176

991165430.UG.FTS.B,

29.49%,

11/30/23

.

99

97

991171212.UG.FTS.B,

29.49%,

11/30/23

.

86

86

991172679.UG.FTS.B,

29.49%,

11/30/23

.

66

66

991172716.UG.FTS.B,

29.49%,

11/30/23

.

575

567

991175666.UG.FTS.B,

29.49%,

11/30/23

.

80

80

991179697.UG.FTS.B,

29.49%,

11/30/23

.

159

3

991182058.UG.FTS.B,

29.49%,

11/30/23

.

4

4

991190331.UG.FTS.B,

29.49%,

11/30/23

.

590

147

991190742.UG.FTS.B,

29.49%,

11/30/23

.

75

6

991198940.UG.FTS.B,

29.49%,

11/30/23

.

459

452

991204123.UG.FTS.B,

29.49%,

11/30/23

.

258

258

991205139.UG.FTS.B,

29.49%,

11/30/23

.

152

152

991208532.UG.FTS.B,

29.49%,

11/30/23

.

31

3

991210246.UG.FTS.B,

29.49%,

11/30/23

.

420

420

991211212.UG.FTS.B,

29.49%,

11/30/23

.

349

348

991212931.UG.FTS.B,

29.49%,

11/30/23

.

102

77

991215551.UG.FTS.B,

29.49%,

11/30/23

.

44

44

991215594.UG.FTS.B,

29.49%,

11/30/23

.

190

190

991216483.UG.FTS.B,

29.49%,

11/30/23

.

236

234

991223241.UG.FTS.B,

29.49%,

11/30/23

.

91

90

991229106.UG.FTS.B,

29.49%,

11/30/23

.

294

212

991229976.UG.FTS.B,

29.49%,

11/30/23

.

179

179

991231947.UG.FTS.B,

29.49%,

11/30/23

.

5

5

991234914.UG.FTS.B,

29.49%,

11/30/23

.

152

150

991235318.UG.FTS.B,

29.49%,

11/30/23

.

–

–

991241950.UG.FTS.B,

29.49%,

11/30/23

.

53

44

991247942.UG.FTS.B,

29.49%,

11/30/23

.

6

6

991249622.UG.FTS.B,

29.49%,

11/30/23

.

346

346

991267430.UG.FTS.B,

29.49%,

11/30/23

.

366

366

991269648.UG.FTS.B,

29.49%,

11/30/23

.

146

146

991274520.UG.FTS.B,

29.49%,

11/30/23

.

42

42

991276197.UG.FTS.B,

29.49%,

11/30/23

.

731

731

991276598.UG.FTS.B,

29.49%,

11/30/23

.

270

270

991281163.UG.FTS.B,

29.49%,

11/30/23

.

26

26

991281773.UG.FTS.B,

29.49%,

11/30/23

.

0

0

991287869.UG.FTS.B,

29.49%,

11/30/23

.

72

5

991289027.UG.FTS.B,

29.49%,

11/30/23

.

50

49

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991289813.UG.FTS.B,

29.49%,

11/30/23

.

$

6

$

6

991292171.UG.FTS.B,

29.49%,

11/30/23

.

67

67

991295561.UG.FTS.B,

29.49%,

11/30/23

.

–

–

991307755.UG.FTS.B,

29.49%,

11/30/23

.

44

44

991314526.UG.FTS.B,

29.49%,

11/30/23

.

26

26

991323557.UG.FTS.B,

29.49%,

11/30/23

.

275

270

991325253.UG.FTS.B,

29.49%,

11/30/23

.

30

30

991326713.UG.FTS.B,

29.49%,

11/30/23

.

41

41

991368165.UG.FTS.B,

29.49%,

11/30/23

.

156

158

991372826.UG.FTS.B,

29.49%,

11/30/23

.

73

74

991183393.UG.FTS.B,

Zero

Cpn,

12/01/23

450

–

991235619.UG.FTS.B,

Zero

Cpn,

12/01/23

102

–

991262437.UG.FTS.B,

Zero

Cpn,

12/01/23

12

–

991220808.UG.FTS.B,

18.71%,

12/01/23

.

54

54

991162333.UG.FTS.B,

19.3%,

12/01/23

..

39

39

991160707.UG.FTS.B,

19.96%,

12/01/23

.

125

123

991178587.UG.FTS.B,

19.96%,

12/01/23

.

749

738

991191757.UG.FTS.B,

19.96%,

12/01/23

.

606

597

991195476.UG.FTS.B,

19.96%,

12/01/23

.

153

151

991234650.UG.FTS.B,

20.47%,

12/01/23

.

0

0

991243088.UG.FTS.B,

20.96%,

12/01/23

.

25

24

991243870.UG.FTS.B,

20.96%,

12/01/23

.

218

215

991345452.UG.FTS.B,

20.96%,

12/01/23

.

822

827

991356277.UG.FTS.B,

20.96%,

12/01/23

.

75

73

991167629.UG.FTS.B,

21.47%,

12/01/23

.

911

895

991245272.UG.FTS.B,

21.48%,

12/01/23

.

82

81

991374505.UG.FTS.B,

21.48%,

12/01/23

.

305

306

991167989.UG.FTS.B,

23.45%,

12/01/23

.

157

(2)

991207657.UG.FTS.B,

23.45%,

12/01/23

.

–

–

991352724.UG.FTS.B,

23.45%,

12/01/23

.

56

(1)

991309415.UG.FTS.B,

25.45%,

12/01/23

.

795

781

991161574.UG.FTS.B,

26.44%,

12/01/23

.

223

219

991172270.UG.FTS.B,

26.44%,

12/01/23

.

67

65

991191618.UG.FTS.B,

26.44%,

12/01/23

.

238

232

991163198.UG.FTS.B,

27.99%,

12/01/23

.

100

99

991172939.UG.FTS.B,

27.99%,

12/01/23

.

105

104

991162019.UG.FTS.B,

28.48%,

12/01/23

.

10

10

991162093.UG.FTS.B,

28.48%,

12/01/23

.

50

50

991163330.UG.FTS.B,

28.48%,

12/01/23

.

–

–

991166037.UG.FTS.B,

28.48%,

12/01/23

.

90

89

991166334.UG.FTS.B,

28.48%,

12/01/23

.

1,003

982

991170121.UG.FTS.B,

28.48%,

12/01/23

.

804

804

991179176.UG.FTS.B,

28.48%,

12/01/23

.

182

178

991180717.UG.FTS.B,

28.48%,

12/01/23

.

27

27

991193665.UG.FTS.B,

28.48%,

12/01/23

.

3

3

991202657.UG.FTS.B,

28.48%,

12/01/23

.

109

109

991204954.UG.FTS.B,

28.48%,

12/01/23

.

186

186

991213506.UG.FTS.B,

28.48%,

12/01/23

.

138

137

991221034.UG.FTS.B,

28.48%,

12/01/23

.

54

53

991250166.UG.FTS.B,

28.48%,

12/01/23

.

77

75

991255142.UG.FTS.B,

28.48%,

12/01/23

.

327

327

991262061.UG.FTS.B,

28.48%,

12/01/23

.

78

77

991265844.UG.FTS.B,

28.48%,

12/01/23

.

458

115

991286291.UG.FTS.B,

28.48%,

12/01/23

.

613

613

991309526.UG.FTS.B,

28.48%,

12/01/23

.

38

37

991341146.UG.FTS.B,

28.48%,

12/01/23

.

243

61

991352742.UG.FTS.B,

28.48%,

12/01/23

.

959

944

991357833.UG.FTS.B,

28.48%,

12/01/23

.

180

178

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

281

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991362835.UG.FTS.B,

28.48%,

12/01/23

.

$

64

$

63

991162109.UG.FTS.B,

29.48%,

12/01/23

.

45

45

991165433.UG.FTS.B,

29.48%,

12/01/23

.

163

160

991167434.UG.FTS.B,

29.48%,

12/01/23

.

275

214

991182975.UG.FTS.B,

29.48%,

12/01/23

.

94

94

991186762.UG.FTS.B,

29.48%,

12/01/23

.

131

95

991198996.UG.FTS.B,

29.48%,

12/01/23

.

112

110

991199545.UG.FTS.B,

29.48%,

12/01/23

.

397

395

991229267.UG.FTS.B,

29.48%,

12/01/23

.

82

81

991267748.UG.FTS.B,

29.48%,

12/01/23

.

42

42

991307878.UG.FTS.B,

29.48%,

12/01/23

.

1,074

1,061

991381282.UG.FTS.B,

29.48%,

12/01/23

.

132

134

991161045.UG.FTS.B,

29.49%,

12/01/23

.

–

–

991162110.UG.FTS.B,

29.49%,

12/01/23

.

45

45

991162427.UG.FTS.B,

29.49%,

12/01/23

.

62

62

991162605.UG.FTS.B,

29.49%,

12/01/23

.

36

36

991163277.UG.FTS.B,

29.49%,

12/01/23

.

345

345

991163635.UG.FTS.B,

29.49%,

12/01/23

.

153

153

991163643.UG.FTS.B,

29.49%,

12/01/23

.

92

92

991164171.UG.FTS.B,

29.49%,

12/01/23

.

37

36

991164195.UG.FTS.B,

29.49%,

12/01/23

.

373

374

991165099.UG.FTS.B,

29.49%,

12/01/23

.

81

21

991165167.UG.FTS.B,

29.49%,

12/01/23

.

348

348

991165547.UG.FTS.B,

29.49%,

12/01/23

.

24

2

991165739.UG.FTS.B,

29.49%,

12/01/23

.

525

524

991166368.UG.FTS.B,

29.49%,

12/01/23

.

111

110

991168018.UG.FTS.B,

29.49%,

12/01/23

.

1,161

1,162

991168321.UG.FTS.B,

29.49%,

12/01/23

.

1,459

101

991169496.UG.FTS.B,

29.49%,

12/01/23

.

778

779

991170271.UG.FTS.B,

29.49%,

12/01/23

.

11

11

991170389.UG.FTS.B,

29.49%,

12/01/23

.

56

56

991170505.UG.FTS.B,

29.49%,

12/01/23

.

72

72

991170961.UG.FTS.B,

29.49%,

12/01/23

.

15

1

991173753.UG.FTS.B,

29.49%,

12/01/23

.

1,313

1,314

991174122.UG.FTS.B,

29.49%,

12/01/23

.

44

37

991175215.UG.FTS.B,

29.49%,

12/01/23

.

14

14

991176052.UG.FTS.B,

29.49%,

12/01/23

.

359

24

991180003.UG.FTS.B,

29.49%,

12/01/23

.

51

(1)

991180464.UG.FTS.B,

29.49%,

12/01/23

.

98

98

991182679.UG.FTS.B,

29.49%,

12/01/23

.

607

594

991182685.UG.FTS.B,

29.49%,

12/01/23

.

111

108

991182997.UG.FTS.B,

29.49%,

12/01/23

.

82

82

991185131.UG.FTS.B,

29.49%,

12/01/23

.

42

41

991186245.UG.FTS.B,

29.49%,

12/01/23

.

239

238

991187841.UG.FTS.B,

29.49%,

12/01/23

.

93

70

991188542.UG.FTS.B,

29.49%,

12/01/23

.

255

255

991191311.UG.FTS.B,

29.49%,

12/01/23

.

31

31

991191694.UG.FTS.B,

29.49%,

12/01/23

.

52

16

991193084.UG.FTS.B,

29.49%,

12/01/23

.

188

185

991194262.UG.FTS.B,

29.49%,

12/01/23

.

23

21

991195487.UG.FTS.B,

29.49%,

12/01/23

.

–

–

991195579.UG.FTS.B,

29.49%,

12/01/23

.

62

62

991195637.UG.FTS.B,

29.49%,

12/01/23

.

556

547

991196394.UG.FTS.B,

29.49%,

12/01/23

.

63

17

991202580.UG.FTS.B,

29.49%,

12/01/23

.

59

59

991202924.UG.FTS.B,

29.49%,

12/01/23

.

75

6

991204590.UG.FTS.B,

29.49%,

12/01/23

.

303

298

991206480.UG.FTS.B,

29.49%,

12/01/23

.

54

53

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991208387.UG.FTS.B,

29.49%,

12/01/23

.

$

76

$

74

991208461.UG.FTS.B,

29.49%,

12/01/23

.

90

90

991208712.UG.FTS.B,

29.49%,

12/01/23

.

120

119

991209332.UG.FTS.B,

29.49%,

12/01/23

.

416

398

991210674.UG.FTS.B,

29.49%,

12/01/23

.

73

73

991211549.UG.FTS.B,

29.49%,

12/01/23

.

26

26

991211749.UG.FTS.B,

29.49%,

12/01/23

.

63

62

991211762.UG.FTS.B,

29.49%,

12/01/23

.

71

71

991212422.UG.FTS.B,

29.49%,

12/01/23

.

98

(3)

991215284.UG.FTS.B,

29.49%,

12/01/23

.

239

235

991215380.UG.FTS.B,

29.49%,

12/01/23

.

340

339

991220236.UG.FTS.B,

29.49%,

12/01/23

.

28

27

991221338.UG.FTS.B,

29.49%,

12/01/23

.

26

25

991227411.UG.FTS.B,

29.49%,

12/01/23

.

50

3

991228271.UG.FTS.B,

29.49%,

12/01/23

.

150

150

991229003.UG.FTS.B,

29.49%,

12/01/23

.

457

443

991230761.UG.FTS.B,

29.49%,

12/01/23

.

500

501

991231997.UG.FTS.B,

29.49%,

12/01/23

.

208

208

991232045.UG.FTS.B,

29.49%,

12/01/23

.

598

589

991240894.UG.FTS.B,

29.49%,

12/01/23

.

55

55

991241758.UG.FTS.B,

29.49%,

12/01/23

.

59

46

991243647.UG.FTS.B,

29.49%,

12/01/23

.

134

134

991244769.UG.FTS.B,

29.49%,

12/01/23

.

205

205

991245848.UG.FTS.B,

29.49%,

12/01/23

.

118

118

991254251.UG.FTS.B,

29.49%,

12/01/23

.

26

2

991255350.UG.FTS.B,

29.49%,

12/01/23

.

334

334

991257005.UG.FTS.B,

29.49%,

12/01/23

.

15

15

991261197.UG.FTS.B,

29.49%,

12/01/23

.

192

187

991262385.UG.FTS.B,

29.49%,

12/01/23

.

139

134

991272910.UG.FTS.B,

29.49%,

12/01/23

.

43

43

991278388.UG.FTS.B,

29.49%,

12/01/23

.

100

101

991279730.UG.FTS.B,

29.49%,

12/01/23

.

286

20

991282761.UG.FTS.B,

29.49%,

12/01/23

.

82

7

991286912.UG.FTS.B,

29.49%,

12/01/23

.

43

42

991289981.UG.FTS.B,

29.49%,

12/01/23

.

169

168

991297694.UG.FTS.B,

29.49%,

12/01/23

.

10

10

991302343.UG.FTS.B,

29.49%,

12/01/23

.

11

11

991303170.UG.FTS.B,

29.49%,

12/01/23

.

128

9

991304430.UG.FTS.B,

29.49%,

12/01/23

.

142

142

991306329.UG.FTS.B,

29.49%,

12/01/23

.

78

78

991312870.UG.FTS.B,

29.49%,

12/01/23

.

27

27

991316071.UG.FTS.B,

29.49%,

12/01/23

.

69

69

991321382.UG.FTS.B,

29.49%,

12/01/23

.

230

227

991323462.UG.FTS.B,

29.49%,

12/01/23

.

100

7

991326670.UG.FTS.B,

29.49%,

12/01/23

.

7

7

991330274.UG.FTS.B,

29.49%,

12/01/23

.

–

–

991336896.UG.FTS.B,

29.49%,

12/01/23

.

29

28

991338569.UG.FTS.B,

29.49%,

12/01/23

.

71

69

991338831.UG.FTS.B,

29.49%,

12/01/23

.

291

287

991338923.UG.FTS.B,

29.49%,

12/01/23

.

2

2

991339375.UG.FTS.B,

29.49%,

12/01/23

.

96

92

991344330.UG.FTS.B,

29.49%,

12/01/23

.

27

2

991353144.UG.FTS.B,

29.49%,

12/01/23

.

1,327

91

991354601.UG.FTS.B,

29.49%,

12/01/23

.

52

52

991355823.UG.FTS.B,

29.49%,

12/01/23

.

42

41

991357717.UG.FTS.B,

29.49%,

12/01/23

.

35

34

991362043.UG.FTS.B,

29.49%,

12/01/23

.

244

240

991366778.UG.FTS.B,

29.49%,

12/01/23

.

10

10

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

282

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991378439.UG.FTS.B,

29.49%,

12/01/23

.

$

253

$

256

991379124.UG.FTS.B,

29.49%,

12/01/23

.

352

358

991379292.UG.FTS.B,

29.49%,

12/01/23

.

270

270

991349149.UG.FTS.B,

19.96%,

12/02/23

.

270

270

991346182.UG.FTS.B,

19.99%,

12/02/23

.

199

198

991371101.UG.FTS.B,

19.99%,

12/02/23

.

268

266

991334441.UG.FTS.B,

28.48%,

12/02/23

.

19

19

991345661.UG.FTS.B,

28.48%,

12/02/23

.

286

286

991353838.UG.FTS.B,

28.48%,

12/02/23

.

26

25

991372730.UG.FTS.B,

28.48%,

12/02/23

.

10

10

991359960.UG.FTS.B,

28.98%,

12/02/23

.

218

216

991331755.UG.FTS.B,

29.48%,

12/02/23

.

176

178

991332114.UG.FTS.B,

29.48%,

12/02/23

.

286

286

991346704.UG.FTS.B,

29.48%,

12/02/23

.

191

191

991382180.UG.FTS.B,

29.48%,

12/02/23

.

952

951

991331455.UG.FTS.B,

29.49%,

12/02/23

.

115

115

991332180.UG.FTS.B,

29.49%,

12/02/23

.

37

36

991332908.UG.FTS.B,

29.49%,

12/02/23

.

114

116

991340317.UG.FTS.B,

29.49%,

12/02/23

.

182

180

991346464.UG.FTS.B,

29.49%,

12/02/23

.

1,914

1,896

991346992.UG.FTS.B,

29.49%,

12/02/23

.

75

74

991352807.UG.FTS.B,

29.49%,

12/02/23

.

16

16

991353801.UG.FTS.B,

29.49%,

12/02/23

.

114

7

991353914.UG.FTS.B,

29.49%,

12/02/23

.

55

55

991354806.UG.FTS.B,

29.49%,

12/02/23

.

62

62

991355498.UG.FTS.B,

29.49%,

12/02/23

.

63

63

991356748.UG.FTS.B,

29.49%,

12/02/23

.

3

3

991361331.UG.FTS.B,

29.49%,

12/02/23

.

1,092

1,082

991363302.UG.FTS.B,

29.49%,

12/02/23

.

32

32

991365395.UG.FTS.B,

29.49%,

12/02/23

.

171

169

991382424.UG.FTS.B,

29.49%,

12/02/23

.

381

376

991187931.UG.FTS.B,

20.47%,

12/05/23

.

63

62

991189306.UG.FTS.B,

28.48%,

12/05/23

.

61

60

991190340.UG.FTS.B,

28.48%,

12/05/23

.

294

287

991202271.UG.FTS.B,

29.49%,

12/05/23

.

137

32

991203694.UG.FTS.B,

29.49%,

12/05/23

.

84

83

991192015.UG.FTS.B,

16.49%,

12/06/23

.

806

815

991227727.UG.FTS.B,

19.96%,

12/06/23

.

904

911

991213795.UG.FTS.B,

20.47%,

12/06/23

.

1,044

1,050

991203822.UG.FTS.B,

21.48%,

12/06/23

.

209

204

991199158.UG.FTS.B,

23.45%,

12/06/23

.

112

113

991223442.UG.FTS.B,

28.48%,

12/06/23

.

296

297

991315535.UG.FTS.B,

28.48%,

12/06/23

.

460

462

991191376.UG.FTS.B,

29.48%,

12/06/23

.

16

16

991213155.UG.FTS.B,

29.48%,

12/06/23

.

95

94

991247985.UG.FTS.B,

29.48%,

12/06/23

.

675

676

991252347.UG.FTS.B,

29.48%,

12/06/23

.

70

69

991191306.UG.FTS.B,

29.49%,

12/06/23

.

666

657

991202593.UG.FTS.B,

29.49%,

12/06/23

.

117

116

991203929.UG.FTS.B,

29.49%,

12/06/23

.

328

321

991204770.UG.FTS.B,

29.49%,

12/06/23

.

5

5

991265824.UG.FTS.B,

29.49%,

12/06/23

.

249

17

991309522.UG.FTS.B,

29.49%,

12/06/23

.

289

3

991357112.UG.FTS.B,

29.49%,

12/06/23

.

116

115

991363430.UG.FTS.B,

16.49%,

12/07/23

.

114

114

991388996.UG.FTS.B,

17.49%,

12/07/23

.

322

322

991198134.UG.FTS.B,

19.96%,

12/07/23

.

310

304

991204447.UG.FTS.B,

20.96%,

12/07/23

.

93

91

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991432095.UG.FTS.B,

21.48%,

12/07/23

.

$

156

$

152

991221494.UG.FTS.B,

22.47%,

12/07/23

.

652

650

991203162.UG.FTS.B,

28.48%,

12/07/23

.

129

127

991253694.UG.FTS.B,

28.48%,

12/07/23

.

76

77

991290902.UG.FTS.B,

28.48%,

12/07/23

.

80

79

991304075.UG.FTS.B,

28.48%,

12/07/23

.

559

568

991335974.UG.FTS.B,

28.48%,

12/07/23

.

108

(5)

991407213.UG.FTS.B,

28.48%,

12/07/23

.

216

211

991422523.UG.FTS.B,

28.48%,

12/07/23

.

104

102

991249958.UG.FTS.B,

29.48%,

12/07/23

.

379

290

991197990.UG.FTS.B,

29.49%,

12/07/23

.

398

385

991198002.UG.FTS.B,

29.49%,

12/07/23

.

73

72

991201204.UG.FTS.B,

29.49%,

12/07/23

.

62

4

991203551.UG.FTS.B,

29.49%,

12/07/23

.

1,116

1,097

991203586.UG.FTS.B,

29.49%,

12/07/23

.

157

157

991203600.UG.FTS.B,

29.49%,

12/07/23

.

244

239

991204768.UG.FTS.B,

29.49%,

12/07/23

.

117

115

991206594.UG.FTS.B,

29.49%,

12/07/23

.

64

(2)

991206861.UG.FTS.B,

29.49%,

12/07/23

.

435

428

991226251.UG.FTS.B,

29.49%,

12/07/23

.

607

614

991272095.UG.FTS.B,

29.49%,

12/07/23

.

71

72

991334523.UG.FTS.B,

29.49%,

12/07/23

.

185

181

991353465.UG.FTS.B,

29.49%,

12/07/23

.

54

52

991404201.UG.FTS.B,

29.49%,

12/07/23

.

93

91

991207156.UG.FTS.B,

Zero

Cpn,

12/08/23

174

–

991214789.UG.FTS.B,

Zero

Cpn,

12/08/23

500

–

991217252.UG.FTS.B,

Zero

Cpn,

12/08/23

2,000

–

991253032.UG.FTS.B,

Zero

Cpn,

12/08/23

63

–

991219520.UG.FTS.B,

14.48%,

12/08/23

.

50

51

991206557.UG.FTS.B,

15.47%,

12/08/23

.

98

1

991251238.UG.FTS.B,

15.47%,

12/08/23

.

327

331

991284235.UG.FTS.B,

15.47%,

12/08/23

.

306

308

991206088.UG.FTS.B,

16.49%,

12/08/23

.

585

591

991250612.UG.FTS.B,

17.49%,

12/08/23

.

185

187

991291945.UG.FTS.B,

17.49%,

12/08/23

.

672

679

991299096.UG.FTS.B,

17.49%,

12/08/23

.

720

728

991306040.UG.FTS.B,

17.49%,

12/08/23

.

121

122

991204909.UG.FTS.B,

17.71%,

12/08/23

.

55

55

991207942.UG.FTS.B,

18.47%,

12/08/23

.

430

433

991220435.UG.FTS.B,

18.47%,

12/08/23

.

169

169

991275637.UG.FTS.B,

18.71%,

12/08/23

.

147

148

991212696.UG.FTS.B,

19.3%,

12/08/23

..

602

607

991229181.UG.FTS.B,

19.3%,

12/08/23

..

85

85

991337098.UG.FTS.B,

19.3%,

12/08/23

..

486

486

991208213.UG.FTS.B,

19.96%,

12/08/23

.

21

21

991343356.UG.FTS.B,

19.96%,

12/08/23

.

194

190

991359463.UG.FTS.B,

19.96%,

12/08/23

.

327

330

991362557.UG.FTS.B,

19.99%,

12/08/23

.

36

36

991249740.UG.FTS.B,

20.47%,

12/08/23

.

116

117

991257669.UG.FTS.B,

20.47%,

12/08/23

.

129

129

991270563.UG.FTS.B,

20.47%,

12/08/23

.

810

808

991259102.UG.FTS.B,

20.96%,

12/08/23

.

101

102

991420233.UG.FTS.B,

22.47%,

12/08/23

.

66

64

991448491.UG.FTS.B,

23.45%,

12/08/23

.

300

291

991218065.UG.FTS.B,

25.45%,

12/08/23

.

2,050

2,049

991214716.UG.FTS.B,

26.44%,

12/08/23

.

291

292

991214785.UG.FTS.B,

27.95%,

12/08/23

.

197

14

991218571.UG.FTS.B,

27.95%,

12/08/23

.

925

940

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

283

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991207120.UG.FTS.B,

28.48%,

12/08/23

.

$

45

$

3

991214878.UG.FTS.B,

28.48%,

12/08/23

.

387

394

991255875.UG.FTS.B,

28.48%,

12/08/23

.

114

113

991265745.UG.FTS.B,

28.48%,

12/08/23

.

186

190

991276602.UG.FTS.B,

28.48%,

12/08/23

.

590

596

991282274.UG.FTS.B,

28.48%,

12/08/23

.

250

254

991321964.UG.FTS.B,

28.48%,

12/08/23

.

301

304

991342766.UG.FTS.B,

28.48%,

12/08/23

.

64

65

991348273.UG.FTS.B,

28.48%,

12/08/23

.

458

462

991394068.UG.FTS.B,

28.48%,

12/08/23

.

69

68

991211631.UG.FTS.B,

29.46%,

12/08/23

.

219

222

991212750.UG.FTS.B,

29.46%,

12/08/23

.

294

294

991213588.UG.FTS.B,

29.46%,

12/08/23

.

294

296

991409255.UG.FTS.B,

29.46%,

12/08/23

.

39

38

991204199.UG.FTS.B,

29.47%,

12/08/23

.

121

94

991215376.UG.FTS.B,

29.47%,

12/08/23

.

1,166

1,184

991217577.UG.FTS.B,

29.47%,

12/08/23

.

0

0

991217829.UG.FTS.B,

29.47%,

12/08/23

.

827

207

991218164.UG.FTS.B,

29.47%,

12/08/23

.

1,544

1,568

991292013.UG.FTS.B,

29.47%,

12/08/23

.

24

24

991207166.UG.FTS.B,

29.48%,

12/08/23

.

221

224

991211029.UG.FTS.B,

29.48%,

12/08/23

.

903

913

991271633.UG.FTS.B,

29.48%,

12/08/23

.

173

175

991278845.UG.FTS.B,

29.48%,

12/08/23

.

138

140

991280178.UG.FTS.B,

29.48%,

12/08/23

.

285

290

991289336.UG.FTS.B,

29.48%,

12/08/23

.

106

107

991320725.UG.FTS.B,

29.48%,

12/08/23

.

108

109

991321514.UG.FTS.B,

29.48%,

12/08/23

.

1,919

1,936

991209755.UG.FTS.B,

29.49%,

12/08/23

.

490

494

991209761.UG.FTS.B,

29.49%,

12/08/23

.

288

286

991211148.UG.FTS.B,

29.49%,

12/08/23

.

99

97

991211644.UG.FTS.B,

29.49%,

12/08/23

.

285

289

991212573.UG.FTS.B,

29.49%,

12/08/23

.

483

487

991213695.UG.FTS.B,

29.49%,

12/08/23

.

191

189

991214094.UG.FTS.B,

29.49%,

12/08/23

.

133

131

991214817.UG.FTS.B,

29.49%,

12/08/23

.

900

901

991214975.UG.FTS.B,

29.49%,

12/08/23

.

389

393

991216594.UG.FTS.B,

29.49%,

12/08/23

.

601

609

991216926.UG.FTS.B,

29.49%,

12/08/23

.

284

280

991217790.UG.FTS.B,

29.49%,

12/08/23

.

777

787

991225432.UG.FTS.B,

29.49%,

12/08/23

.

464

470

991225771.UG.FTS.B,

29.49%,

12/08/23

.

65

64

991228941.UG.FTS.B,

29.49%,

12/08/23

.

404

405

991229722.UG.FTS.B,

29.49%,

12/08/23

.

6

6

991242076.UG.FTS.B,

29.49%,

12/08/23

.

73

72

991251997.UG.FTS.B,

29.49%,

12/08/23

.

28

2

991258341.UG.FTS.B,

29.49%,

12/08/23

.

76

75

991259861.UG.FTS.B,

29.49%,

12/08/23

.

132

130

991262339.UG.FTS.B,

29.49%,

12/08/23

.

98

99

991265728.UG.FTS.B,

29.49%,

12/08/23

.

13

13

991265819.UG.FTS.B,

29.49%,

12/08/23

.

76

20

991271908.UG.FTS.B,

29.49%,

12/08/23

.

64

63

991272424.UG.FTS.B,

29.49%,

12/08/23

.

309

312

991275538.UG.FTS.B,

29.49%,

12/08/23

.

57

56

991280676.UG.FTS.B,

29.49%,

12/08/23

.

119

120

991286242.UG.FTS.B,

29.49%,

12/08/23

.

357

353

991289146.UG.FTS.B,

29.49%,

12/08/23

.

148

150

991300678.UG.FTS.B,

29.49%,

12/08/23

.

83

84

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991301099.UG.FTS.B,

29.49%,

12/08/23

.

$

71

$

70

991313868.UG.FTS.B,

29.49%,

12/08/23

.

248

251

991322697.UG.FTS.B,

29.49%,

12/08/23

.

75

74

991343151.UG.FTS.B,

29.49%,

12/08/23

.

33

3

991347740.UG.FTS.B,

29.49%,

12/08/23

.

20

20

991349755.UG.FTS.B,

29.49%,

12/08/23

.

71

71

991363514.UG.FTS.B,

29.49%,

12/08/23

.

122

9

991379179.UG.FTS.B,

29.49%,

12/08/23

.

24

23

991392955.UG.FTS.B,

29.49%,

12/08/23

.

49

48

991394786.UG.FTS.B,

29.49%,

12/08/23

.

10

9

991407525.UG.FTS.B,

29.49%,

12/08/23

.

210

208

991409276.UG.FTS.B,

29.49%,

12/08/23

.

124

122

991409974.UG.FTS.B,

29.49%,

12/08/23

.

4

4

991360373.UG.FTS.B,

Zero

Cpn,

12/09/23

30

–

991357192.UG.FTS.B,

16.49%,

12/09/23

.

126

124

991388767.UG.FTS.B,

16.49%,

12/09/23

.

952

934

991359124.UG.FTS.B,

20.47%,

12/09/23

.

445

436

991354238.UG.FTS.B,

20.96%,

12/09/23

.

580

567

991389074.UG.FTS.B,

21.48%,

12/09/23

.

142

138

991400299.UG.FTS.B,

23.45%,

12/09/23

.

248

17

991305696.UG.FTS.B,

28.48%,

12/09/23

.

95

94

991393014.UG.FTS.B,

28.48%,

12/09/23

.

148

145

991434948.UG.FTS.B,

28.48%,

12/09/23

.

123

120

991308270.UG.FTS.B,

29.49%,

12/09/23

.

191

189

991326572.UG.FTS.B,

29.49%,

12/09/23

.

85

6

991329390.UG.FTS.B,

29.49%,

12/09/23

.

98

28

991353833.UG.FTS.B,

29.49%,

12/09/23

.

43

42

991355202.UG.FTS.B,

29.49%,

12/09/23

.

0

0

991356147.UG.FTS.B,

29.49%,

12/09/23

.

96

95

991360944.UG.FTS.B,

29.49%,

12/09/23

.

10

10

991364368.UG.FTS.B,

29.49%,

12/09/23

.

425

412

991367687.UG.FTS.B,

29.49%,

12/09/23

.

311

302

991402935.UG.FTS.B,

29.49%,

12/09/23

.

118

15

991403300.UG.FTS.B,

29.49%,

12/09/23

.

4

2

991405419.UG.FTS.B,

29.49%,

12/09/23

.

1,160

80

991408941.UG.FTS.B,

29.49%,

12/09/23

.

114

111

991425160.UG.FTS.B,

29.49%,

12/09/23

.

520

507

991427458.UG.FTS.B,

29.49%,

12/09/23

.

29

28

991442239.UG.FTS.B,

29.49%,

12/09/23

.

21

21

991448905.UG.FTS.B,

29.49%,

12/09/23

.

760

742

991397201.UG.FTS.B,

15%,

12/10/23

....

82

82

991301938.UG.FTS.B,

15.47%,

12/10/23

.

444

438

991359480.UG.FTS.B,

15.47%,

12/10/23

.

270

266

991301880.UG.FTS.B,

16.49%,

12/10/23

.

296

291

991397064.UG.FTS.B,

16.49%,

12/10/23

.

82

80

991443998.UG.FTS.B,

17.49%,

12/10/23

.

3

3

991353794.UG.FTS.B,

19.3%,

12/10/23

..

109

108

991332127.UG.FTS.B,

21.47%,

12/10/23

.

466

316

991357402.UG.FTS.B,

22.47%,

12/10/23

.

165

161

991234278.UG.FTS.B,

26.44%,

12/10/23

.

1,229

1,234

991318209.UG.FTS.B,

27.99%,

12/10/23

.

156

152

991427925.UG.FTS.B,

27.99%,

12/10/23

.

54

54

991312853.UG.FTS.B,

28.48%,

12/10/23

.

0

0

991319042.UG.FTS.B,

28.48%,

12/10/23

.

12

12

991400353.UG.FTS.B,

28.48%,

12/10/23

.

–

–

991316641.UG.FTS.B,

29.48%,

12/10/23

.

26

4

991324549.UG.FTS.B,

29.48%,

12/10/23

.

88

86

991302449.UG.FTS.B,

29.49%,

12/10/23

.

373

367

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

284

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991302796.UG.FTS.B,

29.49%,

12/10/23

.

$

165

$

118

991305756.UG.FTS.B,

29.49%,

12/10/23

.

136

134

991310007.UG.FTS.B,

29.49%,

12/10/23

.

55

54

991310750.UG.FTS.B,

29.49%,

12/10/23

.

161

158

991324857.UG.FTS.B,

29.49%,

12/10/23

.

297

294

991326232.UG.FTS.B,

29.49%,

12/10/23

.

200

198

991342513.UG.FTS.B,

29.49%,

12/10/23

.

788

770

991353364.UG.FTS.B,

29.49%,

12/10/23

.

23

23

991358217.UG.FTS.B,

29.49%,

12/10/23

.

–

–

991361573.UG.FTS.B,

29.49%,

12/10/23

.

54

53

991368001.UG.FTS.B,

29.49%,

12/10/23

.

316

307

991374455.UG.FTS.B,

29.49%,

12/10/23

.

242

234

991374468.UG.FTS.B,

29.49%,

12/10/23

.

162

160

991395653.UG.FTS.B,

29.49%,

12/10/23

.

382

371

991402670.UG.FTS.B,

29.49%,

12/10/23

.

309

302

991418451.UG.FTS.B,

29.49%,

12/10/23

.

152

148

991431724.UG.FTS.B,

29.49%,

12/10/23

.

72

70

991438900.UG.FTS.B,

29.49%,

12/10/23

.

304

295

991333615.UG.FTS.B,

14.48%,

12/11/23

.

186

43

991448540.UG.FTS.B,

15.47%,

12/11/23

.

663

652

991446545.UG.FTS.B,

19.96%,

12/11/23

.

92

6

991443740.UG.FTS.B,

23.45%,

12/11/23

.

228

(5)

991357205.UG.FTS.B,

28.48%,

12/11/23

.

14

14

991332603.UG.FTS.B,

29.48%,

12/11/23

.

26

10

991399386.UG.FTS.B,

29.48%,

12/11/23

.

18

18

991305828.UG.FTS.B,

29.49%,

12/11/23

.

58

(3)

991312526.UG.FTS.B,

29.49%,

12/11/23

.

17

16

991316785.UG.FTS.B,

29.49%,

12/11/23

.

107

106

991317142.UG.FTS.B,

29.49%,

12/11/23

.

37

37

991338974.UG.FTS.B,

29.49%,

12/11/23

.

329

321

991355407.UG.FTS.B,

29.49%,

12/11/23

.

9

9

991357960.UG.FTS.B,

29.49%,

12/11/23

.

0

0

991361082.UG.FTS.B,

29.49%,

12/11/23

.

29

29

991361596.UG.FTS.B,

29.49%,

12/11/23

.

872

845

991373643.UG.FTS.B,

29.49%,

12/11/23

.

562

553

991399394.UG.FTS.B,

29.49%,

12/11/23

.

109

108

991400100.UG.FTS.B,

29.49%,

12/11/23

.

76

76

991403298.UG.FTS.B,

29.49%,

12/11/23

.

29

28

991407765.UG.FTS.B,

29.49%,

12/11/23

.

57

56

991442696.UG.FTS.B,

29.49%,

12/11/23

.

–

–

991447716.UG.FTS.B,

29.49%,

12/11/23

.

315

41

991456024.UG.FTS.B,

29.49%,

12/11/23

.

142

138

991362795.UG.FTS.B,

14.48%,

12/12/23

.

24

24

991381330.UG.FTS.B,

16.49%,

12/12/23

.

937

218

991396030.UG.FTS.B,

16.49%,

12/12/23

.

163

161

991305534.UG.FTS.B,

18.3%,

12/12/23

..

128

9

991353250.UG.FTS.B,

18.71%,

12/12/23

.

331

325

991364577.UG.FTS.B,

19.3%,

12/12/23

..

167

164

991309899.UG.FTS.B,

19.96%,

12/12/23

.

7

7

991406118.UG.FTS.B,

20.96%,

12/12/23

.

19

19

991420683.UG.FTS.B,

20.96%,

12/12/23

.

25

24

991325321.UG.FTS.B,

23.45%,

12/12/23

.

133

9

991327492.UG.FTS.B,

25.44%,

12/12/23

.

560

543

991420296.UG.FTS.B,

28.48%,

12/12/23

.

129

33

991316822.UG.FTS.B,

29.48%,

12/12/23

.

9

9

991331674.UG.FTS.B,

29.48%,

12/12/23

.

246

243

991298936.UG.FTS.B,

29.49%,

12/12/23

.

97

95

991300230.UG.FTS.B,

29.49%,

12/12/23

.

24

2

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991304389.UG.FTS.B,

29.49%,

12/12/23

.

$

101

$

100

991304451.UG.FTS.B,

29.49%,

12/12/23

.

23

23

991311832.UG.FTS.B,

29.49%,

12/12/23

.

41

40

991317469.UG.FTS.B,

29.49%,

12/12/23

.

179

176

991324361.UG.FTS.B,

29.49%,

12/12/23

.

17

16

991335350.UG.FTS.B,

29.49%,

12/12/23

.

67

66

991337692.UG.FTS.B,

29.49%,

12/12/23

.

83

81

991344161.UG.FTS.B,

29.49%,

12/12/23

.

144

141

991345949.UG.FTS.B,

29.49%,

12/12/23

.

113

29

991350400.UG.FTS.B,

29.49%,

12/12/23

.

332

120

991351009.UG.FTS.B,

29.49%,

12/12/23

.

47

46

991352529.UG.FTS.B,

29.49%,

12/12/23

.

27

26

991356769.UG.FTS.B,

29.49%,

12/12/23

.

265

257

991357008.UG.FTS.B,

29.49%,

12/12/23

.

102

(4)

991361796.UG.FTS.B,

29.49%,

12/12/23

.

106

103

991374679.UG.FTS.B,

29.49%,

12/12/23

.

84

6

991387472.UG.FTS.B,

29.49%,

12/12/23

.

358

353

991417926.UG.FTS.B,

29.49%,

12/12/23

.

6

6

991418937.UG.FTS.B,

29.49%,

12/12/23

.

16

16

991422639.UG.FTS.B,

29.49%,

12/12/23

.

23

22

991424465.UG.FTS.B,

29.49%,

12/12/23

.

982

957

991426866.UG.FTS.B,

29.49%,

12/12/23

.

201

197

991431543.UG.FTS.B,

29.49%,

12/12/23

.

71

5

991432271.UG.FTS.B,

29.49%,

12/12/23

.

109

106

991438264.UG.FTS.B,

29.49%,

12/12/23

.

290

281

991443311.UG.FTS.B,

29.49%,

12/12/23

.

529

516

991445845.UG.FTS.B,

29.49%,

12/12/23

.

196

26

991307505.UG.FTS.B,

15.47%,

12/13/23

.

39

39

991419474.UG.FTS.B,

15.47%,

12/13/23

.

377

370

991341939.UG.FTS.B,

16.49%,

12/13/23

.

17

17

991438897.UG.FTS.B,

17.47%,

12/13/23

.

119

117

991253583.UG.FTS.B,

17.49%,

12/13/23

.

490

496

991287740.UG.FTS.B,

17.49%,

12/13/23

.

278

281

991301519.UG.FTS.B,

17.49%,

12/13/23

.

372

366

991326150.UG.FTS.B,

17.49%,

12/13/23

.

46

45

991284086.UG.FTS.B,

18.71%,

12/13/23

.

277

280

991398313.UG.FTS.B,

19.3%,

12/13/23

..

125

122

991440099.UG.FTS.B,

19.3%,

12/13/23

..

1,487

1,454

991325207.UG.FTS.B,

19.99%,

12/13/23

.

261

259

991408874.UG.FTS.B,

20.47%,

12/13/23

.

72

70

991309000.UG.FTS.B,

20.96%,

12/13/23

.

91

89

991318082.UG.FTS.B,

20.96%,

12/13/23

.

14

14

991326263.UG.FTS.B,

20.96%,

12/13/23

.

117

114

991335909.UG.FTS.B,

20.96%,

12/13/23

.

6

6

991404223.UG.FTS.B,

20.96%,

12/13/23

.

12

12

991405681.UG.FTS.B,

20.96%,

12/13/23

.

330

23

991332222.UG.FTS.B,

21.48%,

12/13/23

.

169

166

991318319.UG.FTS.B,

22.47%,

12/13/23

.

94

12

991333894.UG.FTS.B,

28.48%,

12/13/23

.

325

321

991336028.UG.FTS.B,

29.48%,

12/13/23

.

81

80

991361182.UG.FTS.B,

29.48%,

12/13/23

.

40

39

991397136.UG.FTS.B,

29.48%,

12/13/23

.

99

97

991306442.UG.FTS.B,

29.49%,

12/13/23

.

111

109

991317151.UG.FTS.B,

29.49%,

12/13/23

.

–

–

991322594.UG.FTS.B,

29.49%,

12/13/23

.

34

33

991324423.UG.FTS.B,

29.49%,

12/13/23

.

71

70

991335538.UG.FTS.B,

29.49%,

12/13/23

.

12

12

991335642.UG.FTS.B,

29.49%,

12/13/23

.

156

154

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

285

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991336926.UG.FTS.B,

29.49%,

12/13/23

.

$

132

$

130

991346907.UG.FTS.B,

29.49%,

12/13/23

.

–

–

991361169.UG.FTS.B,

29.49%,

12/13/23

.

673

664

991361711.UG.FTS.B,

29.49%,

12/13/23

.

14

6

991367940.UG.FTS.B,

29.49%,

12/13/23

.

50

49

991388506.UG.FTS.B,

29.49%,

12/13/23

.

105

103

991411214.UG.FTS.B,

29.49%,

12/13/23

.

29

28

991419162.UG.FTS.B,

29.49%,

12/13/23

.

252

245

991420666.UG.FTS.B,

29.49%,

12/13/23

.

15

15

991427948.UG.FTS.B,

29.49%,

12/13/23

.

17

2

991428519.UG.FTS.B,

29.49%,

12/13/23

.

127

124

991431781.UG.FTS.B,

29.49%,

12/13/23

.

57

56

991449076.UG.FTS.B,

29.49%,

12/13/23

.

458

443

991449088.UG.FTS.B,

29.49%,

12/13/23

.

45

3

991449152.UG.FTS.B,

29.49%,

12/13/23

.

63

5

991482563.UG.FTS.B,

17.49%,

12/14/23

.

25

24

991261373.UG.FTS.B,

25.45%,

12/14/23

.

92

93

991256671.UG.FTS.B,

26.44%,

12/14/23

.

5

5

991268217.UG.FTS.B,

26.44%,

12/14/23

.

1,142

79

991274764.UG.FTS.B,

26.44%,

12/14/23

.

630

44

991255753.UG.FTS.B,

14.47%,

12/15/23

.

90

92

991491868.UG.FTS.B,

14.48%,

12/15/23

.

10

10

991296022.UG.FTS.B,

16.49%,

12/15/23

.

–

–

991331167.UG.FTS.B,

16.49%,

12/15/23

.

1,118

1,134

991278437.UG.FTS.B,

17.49%,

12/15/23

.

116

114

991332406.UG.FTS.B,

17.49%,

12/15/23

.

140

142

991358982.UG.FTS.B,

17.49%,

12/15/23

.

373

378

991400429.UG.FTS.B,

17.49%,

12/15/23

.

372

377

991255746.UG.FTS.B,

18.47%,

12/15/23

.

241

243

991379123.UG.FTS.B,

18.47%,

12/15/23

.

–

–

991265681.UG.FTS.B,

18.71%,

12/15/23

.

107

108

991387743.UG.FTS.B,

18.71%,

12/15/23

.

680

500

991264425.UG.FTS.B,

19.3%,

12/15/23

..

–

–

991268786.UG.FTS.B,

19.3%,

12/15/23

..

151

152

991399812.UG.FTS.B,

19.3%,

12/15/23

..

1,496

1,512

991263020.UG.FTS.B,

19.96%,

12/15/23

.

4

4

991290666.UG.FTS.B,

19.96%,

12/15/23

.

25

25

991427865.UG.FTS.B,

19.96%,

12/15/23

.

425

425

991265527.UG.FTS.B,

20.47%,

12/15/23

.

177

174

991270303.UG.FTS.B,

20.47%,

12/15/23

.

107

106

991288025.UG.FTS.B,

20.96%,

12/15/23

.

77

78

991257804.UG.FTS.B,

21.47%,

12/15/23

.

108

8

991256910.UG.FTS.B,

21.48%,

12/15/23

.

50

50

991359972.UG.FTS.B,

21.48%,

12/15/23

.

84

84

991364787.UG.FTS.B,

22.45%,

12/15/23

.

397

399

991448152.UG.FTS.B,

22.45%,

12/15/23

.

217

216

991260304.UG.FTS.B,

22.47%,

12/15/23

.

103

104

991400098.UG.FTS.B,

22.47%,

12/15/23

.

46

46

991427835.UG.FTS.B,

22.47%,

12/15/23

.

41

6

991457293.UG.FTS.B,

22.47%,

12/15/23

.

193

24

991474429.UG.FTS.B,

22.47%,

12/15/23

.

519

375

991279347.UG.FTS.B,

23.45%,

12/15/23

.

409

408

991391780.UG.FTS.B,

25.45%,

12/15/23

.

108

43

991390117.UG.FTS.B,

15.47%,

12/16/23

.

370

365

991264118.UG.FTS.B,

16.49%,

12/16/23

.

475

469

991449168.UG.FTS.B,

16.49%,

12/16/23

.

259

255

991265066.UG.FTS.B,

17.49%,

12/16/23

.

183

180

991459556.UG.FTS.B,

17.49%,

12/16/23

.

231

226

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991262263.UG.FTS.B,

18.47%,

12/16/23

.

$

162

$

160

991376799.UG.FTS.B,

19.3%,

12/16/23

..

1,063

1,040

991343699.UG.FTS.B,

20.96%,

12/16/23

.

447

437

991483241.UG.FTS.B,

23.45%,

12/16/23

.

99

22

991294138.UG.FTS.B,

Zero

Cpn,

12/17/23

94

–

991270926.UG.FTS.B,

15%,

12/17/23

....

189

186

991392011.UG.FTS.B,

15.47%,

12/17/23

.

224

3

991267791.UG.FTS.B,

16.49%,

12/17/23

.

1,016

1,006

991272030.UG.FTS.B,

16.49%,

12/17/23

.

17

17

991407871.UG.FTS.B,

16.49%,

12/17/23

.

223

220

991496207.UG.FTS.B,

16.49%,

12/17/23

.

2,016

1,981

991322158.UG.FTS.B,

17.49%,

12/17/23

.

279

277

991278519.UG.FTS.B,

18.47%,

12/17/23

.

54

53

991305114.UG.FTS.B,

18.71%,

12/17/23

.

538

529

991334320.UG.FTS.B,

18.71%,

12/17/23

.

149

146

991334732.UG.FTS.B,

18.71%,

12/17/23

.

374

368

991309192.UG.FTS.B,

19.3%,

12/17/23

..

215

211

991352161.UG.FTS.B,

19.3%,

12/17/23

..

601

455

991302932.UG.FTS.B,

19.47%,

12/17/23

.

148

145

991331047.UG.FTS.B,

19.96%,

12/17/23

.

90

89

991372337.UG.FTS.B,

20.96%,

12/17/23

.

223

221

991320917.UG.FTS.B,

21.48%,

12/17/23

.

854

836

991412009.UG.FTS.B,

21.48%,

12/17/23

.

34

33

991278216.UG.FTS.B,

22.47%,

12/17/23

.

130

126

991311167.UG.FTS.B,

22.47%,

12/17/23

.

634

621

991291158.UG.FTS.B,

24.45%,

12/17/23

.

228

223

991407328.UG.FTS.B,

15%,

12/18/23

....

118

116

991369605.UG.FTS.B,

16.49%,

12/18/23

.

94

93

991396924.UG.FTS.B,

17.47%,

12/18/23

.

237

29

991335445.UG.FTS.B,

17.49%,

12/18/23

.

21

20

991470545.UG.FTS.B,

17.49%,

12/18/23

.

0

0

991281301.UG.FTS.B,

18.71%,

12/18/23

.

33

2

991354731.UG.FTS.B,

18.71%,

12/18/23

.

159

156

991416710.UG.FTS.B,

18.71%,

12/18/23

.

1,924

1,892

991421673.UG.FTS.B,

18.71%,

12/18/23

.

918

903

991301675.UG.FTS.B,

19.96%,

12/18/23

.

102

13

991309417.UG.FTS.B,

20.47%,

12/18/23

.

304

298

991298110.UG.FTS.B,

21.48%,

12/18/23

.

241

237

991304745.UG.FTS.B,

22.47%,

12/18/23

.

86

84

991322776.UG.FTS.B,

23.45%,

12/18/23

.

110

108

991322852.UG.FTS.B,

23.45%,

12/18/23

.

84

82

991452932.UG.FTS.B,

25.45%,

12/18/23

.

32

31

991311807.UG.FTS.B,

Zero

Cpn,

12/19/23

149

–

991498769.UG.FTS.B,

15.47%,

12/19/23

.

308

303

991529107.UG.FTS.B,

15.47%,

12/19/23

.

484

36

991293181.UG.FTS.B,

16.49%,

12/19/23

.

16

16

991405305.UG.FTS.B,

16.49%,

12/19/23

.

326

323

991429423.UG.FTS.B,

17.47%,

12/19/23

.

129

127

991317582.UG.FTS.B,

17.49%,

12/19/23

.

234

230

991402779.UG.FTS.B,

17.49%,

12/19/23

.

261

257

991403359.UG.FTS.B,

17.49%,

12/19/23

.

91

89

991405335.UG.FTS.B,

17.49%,

12/19/23

.

50

49

991467590.UG.FTS.B,

17.49%,

12/19/23

.

120

118

991308110.UG.FTS.B,

18.47%,

12/19/23

.

101

99

991306413.UG.FTS.B,

18.71%,

12/19/23

.

234

230

991531539.UG.FTS.B,

18.71%,

12/19/23

.

4

4

991536801.UG.FTS.B,

18.71%,

12/19/23

.

5

5

991313951.UG.FTS.B,

18.96%,

12/19/23

.

366

360

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

286

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991386181.UG.FTS.B,

18.96%,

12/19/23

.

$

37

$

3

991287925.UG.FTS.B,

19.3%,

12/19/23

..

274

270

991294915.UG.FTS.B,

19.3%,

12/19/23

..

107

106

991511200.UG.FTS.B,

19.3%,

12/19/23

..

129

126

991293572.UG.FTS.B,

19.96%,

12/19/23

.

487

479

991512039.UG.FTS.B,

19.96%,

12/19/23

.

350

344

991297522.UG.FTS.B,

20.47%,

12/19/23

.

85

84

991310240.UG.FTS.B,

20.47%,

12/19/23

.

39

38

991341980.UG.FTS.B,

20.47%,

12/19/23

.

375

369

991468736.UG.FTS.B,

20.47%,

12/19/23

.

86

84

991523578.UG.FTS.B,

20.47%,

12/19/23

.

297

291

991296205.UG.FTS.B,

20.96%,

12/19/23

.

121

119

991320063.UG.FTS.B,

20.96%,

12/19/23

.

278

273

991433616.UG.FTS.B,

20.96%,

12/19/23

.

102

100

991313003.UG.FTS.B,

21.48%,

12/19/23

.

322

316

991414126.UG.FTS.B,

21.48%,

12/19/23

.

597

582

991367322.UG.FTS.B,

22.47%,

12/19/23

.

151

148

991319968.UG.FTS.B,

23.45%,

12/19/23

.

324

41

991332022.UG.FTS.B,

23.45%,

12/19/23

.

189

13

991306283.UG.FTS.B,

26.44%,

12/19/23

.

126

123

991319276.UG.FTS.B,

26.44%,

12/19/23

.

54

52

991319528.UG.FTS.B,

Zero

Cpn,

12/20/23

358

–

991410920.UG.FTS.B,

14.48%,

12/20/23

.

46

45

991329705.UG.FTS.B,

15.47%,

12/20/23

.

35

34

991332263.UG.FTS.B,

15.47%,

12/20/23

.

42

42

991400459.UG.FTS.B,

15.47%,

12/20/23

.

441

433

991483798.UG.FTS.B,

15.47%,

12/20/23

.

394

391

991310519.UG.FTS.B,

16.49%,

12/20/23

.

47

47

991325118.UG.FTS.B,

16.49%,

12/20/23

.

358

353

991329161.UG.FTS.B,

16.49%,

12/20/23

.

263

260

991295957.UG.FTS.B,

17.49%,

12/20/23

.

138

136

991307475.UG.FTS.B,

17.49%,

12/20/23

.

937

924

991310755.UG.FTS.B,

17.49%,

12/20/23

.

367

362

991325948.UG.FTS.B,

17.49%,

12/20/23

.

103

101

991358233.UG.FTS.B,

17.49%,

12/20/23

.

748

737

991391037.UG.FTS.B,

17.49%,

12/20/23

.

20

20

991432644.UG.FTS.B,

17.49%,

12/20/23

.

142

140

991331450.UG.FTS.B,

18.47%,

12/20/23

.

113

111

991366147.UG.FTS.B,

18.47%,

12/20/23

.

477

471

991462169.UG.FTS.B,

18.47%,

12/20/23

.

21

21

991496764.UG.FTS.B,

18.47%,

12/20/23

.

743

729

991511457.UG.FTS.B,

18.47%,

12/20/23

.

13

13

991354570.UG.FTS.B,

18.71%,

12/20/23

.

8

8

991330462.UG.FTS.B,

19.3%,

12/20/23

..

26

26

991363259.UG.FTS.B,

19.3%,

12/20/23

..

131

129

991373067.UG.FTS.B,

19.3%,

12/20/23

..

352

346

991484015.UG.FTS.B,

19.3%,

12/20/23

..

164

11

991419085.UG.FTS.B,

19.96%,

12/20/23

.

113

111

991523610.UG.FTS.B,

19.96%,

12/20/23

.

373

364

991306794.UG.FTS.B,

20.47%,

12/20/23

.

139

137

991309544.UG.FTS.B,

20.47%,

12/20/23

.

772

758

991346807.UG.FTS.B,

20.47%,

12/20/23

.

1,509

104

991427426.UG.FTS.B,

20.47%,

12/20/23

.

2,276

2,225

991312178.UG.FTS.B,

20.96%,

12/20/23

.

9

9

991346488.UG.FTS.B,

20.96%,

12/20/23

.

152

151

991299329.UG.FTS.B,

21.48%,

12/20/23

.

205

159

991303384.UG.FTS.B,

21.48%,

12/20/23

.

86

84

991494550.UG.FTS.B,

21.48%,

12/20/23

.

190

187

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991315452.UG.FTS.B,

22.47%,

12/20/23

.

$

549

$

536

991329280.UG.FTS.B,

22.47%,

12/20/23

.

210

205

991400962.UG.FTS.B,

22.47%,

12/20/23

.

80

78

991514311.UG.FTS.B,

22.47%,

12/20/23

.

375

365

991540256.UG.FTS.B,

22.47%,

12/20/23

.

48

47

991347172.UG.FTS.B,

23.45%,

12/20/23

.

164

161

991526160.UG.FTS.B,

23.45%,

12/20/23

.

522

508

991509838.UG.FTS.B,

25.45%,

12/20/23

.

138

135

991448015.UG.FTS.B,

19.96%,

12/21/23

.

702

686

991514693.UG.FTS.B,

20.96%,

12/21/23

.

158

155

991505059.UG.FTS.B,

21.48%,

12/21/23

.

112

110

991536020.UG.FTS.B,

23.45%,

12/21/23

.

283

276

991064824.UG.FTS.B,

20.96%,

1/15/24

..

134

94

991113009.UG.FTS.B,

29.49%,

1/18/24

..

86

7

991418802.UG.FTS.B,

29.49%,

10/10/24

.

102

69

990928675.UG.FTS.B,

29.49%,

10/19/24

.

240

239

991074445.UG.FTS.B,

28.98%,

10/20/24

.

5,637

5,573

991072765.UG.FTS.B,

29.49%,

10/20/24

.

156

155

990941301.UG.FTS.B,

28.98%,

10/21/24

.

285

283

991042512.UG.FTS.B,

28.98%,

10/21/24

.

301

300

991068200.UG.FTS.B,

28.98%,

10/21/24

.

47

46

990914556.UG.FTS.B,

29.49%,

10/21/24

.

71

5

991060237.UG.FTS.B,

28.98%,

10/22/24

.

127

126

990948556.UG.FTS.B,

29.49%,

10/22/24

.

121

120

991072394.UG.FTS.B,

29.49%,

10/22/24

.

169

167

991016215.UG.FTS.B,

Zero

Cpn,

11/08/24

1,442

–

991017746.UG.FTS.B,

Zero

Cpn,

11/08/24

867

–

991015899.UG.FTS.B,

15%,

11/08/24

....

2,013

218

991029860.UG.FTS.B,

16.99%,

11/08/24

.

1,399

1,379

991204575.UG.FTS.B,

19.21%,

11/08/24

.

349

341

991014890.UG.FTS.B,

19.46%,

11/08/24

.

1,664

1,636

991009765.UG.FTS.B,

19.8%,

11/08/24

..

3,724

3,661

991020888.UG.FTS.B,

19.8%,

11/08/24

..

1,838

1,807

991132194.UG.FTS.B,

19.8%,

11/08/24

..

741

724

991010233.UG.FTS.B,

19.99%,

11/08/24

.

373

366

991016261.UG.FTS.B,

19.99%,

11/08/24

.

223

146

991009159.UG.FTS.B,

20.46%,

11/08/24

.

389

383

991025022.UG.FTS.B,

20.46%,

11/08/24

.

258

253

991043299.UG.FTS.B,

20.46%,

11/08/24

.

688

676

991019305.UG.FTS.B,

20.97%,

11/08/24

.

458

449

991015397.UG.FTS.B,

21.46%,

11/08/24

.

189

185

991037836.UG.FTS.B,

21.46%,

11/08/24

.

2,968

2,904

991062208.UG.FTS.B,

21.98%,

11/08/24

.

258

252

991089275.UG.FTS.B,

21.98%,

11/08/24

.

123

120

991008862.UG.FTS.B,

22.97%,

11/08/24

.

809

792

991016897.UG.FTS.B,

23.95%,

11/08/24

.

1,853

1,792

991015679.UG.FTS.B,

27.99%,

11/08/24

.

1,272

1,272

991059423.UG.FTS.B,

27.99%,

11/08/24

.

39

39

991008644.UG.FTS.B,

28.98%,

11/08/24

.

91

90

991009458.UG.FTS.B,

28.98%,

11/08/24

.

743

732

991010680.UG.FTS.B,

28.98%,

11/08/24

.

850

58

991011158.UG.FTS.B,

28.98%,

11/08/24

..

14

14

991014622.UG.FTS.B,

28.98%,

11/08/24

.

767

757

991015221.UG.FTS.B,

28.98%,

11/08/24

.

2,790

1,802

991015963.UG.FTS.B,

28.98%,

11/08/24

.

1,704

1,680

991016183.UG.FTS.B,

28.98%,

11/08/24

.

2,421

530

991020061.UG.FTS.B,

28.98%,

11/08/24

.

460

453

991021690.UG.FTS.B,

28.98%,

11/08/24

.

140

138

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

287

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991037342.UG.FTS.B,

28.98%,

11/08/24

.

$

515

$

109

991043973.UG.FTS.B,

28.98%,

11/08/24

.

138

137

991046124.UG.FTS.B,

28.98%,

11/08/24

.

136

136

991047284.UG.FTS.B,

28.98%,

11/08/24

.

166

163

991049421.UG.FTS.B,

28.98%,

11/08/24

.

94

94

991049874.UG.FTS.B,

28.98%,

11/08/24

.

14

14

991062658.UG.FTS.B,

28.98%,

11/08/24

.

563

555

991069248.UG.FTS.B,

28.98%,

11/08/24

.

257

252

991069501.UG.FTS.B,

28.98%,

11/08/24

.

143

141

991075694.UG.FTS.B,

28.98%,

11/08/24

.

90

6

991089676.UG.FTS.B,

28.98%,

11/08/24

.

1,899

1,898

991122476.UG.FTS.B,

28.98%,

11/08/24

.

430

104

991136078.UG.FTS.B,

28.98%,

11/08/24

.

–

–

991183172.UG.FTS.B,

28.98%,

11/08/24

.

130

128

991188631.UG.FTS.B,

28.98%,

11/08/24

.

341

335

991198912.UG.FTS.B,

28.98%,

11/08/24

.

34

34

991205446.UG.FTS.B,

28.98%,

11/08/24

.

135

133

991207326.UG.FTS.B,

28.98%,

11/08/24

.

73

72

991014634.UG.FTS.B,

29.48%,

11/08/24

.

1,000

1,000

991009200.UG.FTS.B,

29.49%,

11/08/24

.

300

300

991009218.UG.FTS.B,

29.49%,

11/08/24

.

243

240

991009403.UG.FTS.B,

29.49%,

11/08/24

.

885

877

991009730.UG.FTS.B,

29.49%,

11/08/24

.

393

384

991009808.UG.FTS.B,

29.49%,

11/08/24

.

1,167

1,165

991010218.UG.FTS.B,

29.49%,

11/08/24

.

667

145

991011019.UG.FTS.B,

29.49%,

11/08/24

.

114

114

991011039.UG.FTS.B,

29.49%,

11/08/24

.

945

932

991012606.UG.FTS.B,

29.49%,

11/08/24

.

249

(5)

991013711.UG.FTS.B,

29.49%,

11/08/24

.

396

394

991015583.UG.FTS.B,

29.49%,

11/08/24

.

517

35

991016135.UG.FTS.B,

29.49%,

11/08/24

.

678

674

991016360.UG.FTS.B,

29.49%,

11/08/24

.

393

393

991018167.UG.FTS.B,

29.49%,

11/08/24

.

355

355

991019441.UG.FTS.B,

29.49%,

11/08/24

.

630

610

991021073.UG.FTS.B,

29.49%,

11/08/24

.

–

–

991024408.UG.FTS.B,

29.49%,

11/08/24

.

150

10

991026129.UG.FTS.B,

29.49%,

11/08/24

.

592

580

991032542.UG.FTS.B,

29.49%,

11/08/24

.

1,311

1,309

991033519.UG.FTS.B,

29.49%,

11/08/24

.

146

145

991051891.UG.FTS.B,

29.49%,

11/08/24

.

614

606

991060109.UG.FTS.B,

29.49%,

11/08/24

.

237

233

991065536.UG.FTS.B,

29.49%,

11/08/24

.

143

140

991066416.UG.FTS.B,

29.49%,

11/08/24

.

180

37

991067396.UG.FTS.B,

29.49%,

11/08/24

.

195

195

991089599.UG.FTS.B,

29.49%,

11/08/24

.

2,326

2,289

991092872.UG.FTS.B,

29.49%,

11/08/24

.

85

83

991149918.UG.FTS.B,

29.49%,

11/08/24

.

–

–

991156301.UG.FTS.B,

29.49%,

11/08/24

.

463

455

991174773.UG.FTS.B,

29.49%,

11/08/24

.

138

136

991185262.UG.FTS.B,

29.49%,

11/08/24

.

165

36

991190293.UG.FTS.B,

29.49%,

11/08/24

.

8

8

991200927.UG.FTS.B,

29.49%,

11/08/24

.

278

274

991201705.UG.FTS.B,

29.49%,

11/08/24

.

–

–

991206041.UG.FTS.B,

29.49%,

11/08/24

.

117

115

991208389.UG.FTS.B,

29.49%,

11/08/24

.

17

17

991015727.UG.FTS.B,

Zero

Cpn,

11/09/24

286

–

991019086.UG.FTS.B,

Zero

Cpn,

11/09/24

587

–

991163130.UG.FTS.B,

Zero

Cpn,

11/09/24

1,352

–

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991039862.UG.FTS.B,

14.98%,

11/09/24

.

$

1,121

$

1,107

991014849.UG.FTS.B,

16.99%,

11/09/24

.

582

592

991032070.UG.FTS.B,

16.99%,

11/09/24

.

324

330

991037178.UG.FTS.B,

16.99%,

11/09/24

.

612

623

991086152.UG.FTS.B,

17.99%,

11/09/24

.

329

325

991107359.UG.FTS.B,

17.99%,

11/09/24

.

419

413

991047811.UG.FTS.B,

18.97%,

11/09/24

.

26

26

991043681.UG.FTS.B,

19.21%,

11/09/24

.

1,694

1,720

991104757.UG.FTS.B,

19.21%,

11/09/24

.

337

332

991109004.UG.FTS.B,

19.21%,

11/09/24

.

1,002

1,018

991017861.UG.FTS.B,

19.8%,

11/09/24

..

126

127

991019345.UG.FTS.B,

19.8%,

11/09/24

..

295

290

991031629.UG.FTS.B,

19.99%,

11/09/24

.

855

855

991137626.UG.FTS.B,

19.99%,

11/09/24

.

178

175

991196476.UG.FTS.B,

19.99%,

11/09/24

.

158

158

991206600.UG.FTS.B,

19.99%,

11/09/24

.

15

15

991213119.UG.FTS.B,

19.99%,

11/09/24

.

131

133

991014881.UG.FTS.B,

20.46%,

11/09/24

.

1,416

1,435

991213995.UG.FTS.B,

20.46%,

11/09/24

.

71

72

991015912.UG.FTS.B,

20.97%,

11/09/24

.

588

379

991064904.UG.FTS.B,

20.97%,

11/09/24

.

1,392

1,398

991023515.UG.FTS.B,

21.46%,

11/09/24

.

566

109

991047267.UG.FTS.B,

21.46%,

11/09/24

.

302

298

991217068.UG.FTS.B,

21.46%,

11/09/24

.

412

413

991036234.UG.FTS.B,

21.98%,

11/09/24

.

456

446

991152954.UG.FTS.B,

21.98%,

11/09/24

.

192

190

991205720.UG.FTS.B,

21.98%,

11/09/24

.

144

140

991214327.UG.FTS.B,

21.98%,

11/09/24

.

239

240

991015386.UG.FTS.B,

22.97%,

11/09/24

.

911

884

991015291.UG.FTS.B,

23.95%,

11/09/24

.

190

188

991044341.UG.FTS.B,

23.95%,

11/09/24

.

1,396

1,364

991207204.UG.FTS.B,

27.99%,

11/09/24

.

96

95

991014627.UG.FTS.B,

28.98%,

11/09/24

.

459

468

991019851.UG.FTS.B,

28.98%,

11/09/24

.

264

273

991020472.UG.FTS.B,

28.98%,

11/09/24

.

1,084

133

991021150.UG.FTS.B,

28.98%,

11/09/24

.

306

316

991023582.UG.FTS.B,

28.98%,

11/09/24

.

6

6

991024150.UG.FTS.B,

28.98%,

11/09/24

.

678

687

991024317.UG.FTS.B,

28.98%,

11/09/24

.

375

374

991024437.UG.FTS.B,

28.98%,

11/09/24

.

643

664

991031006.UG.FTS.B,

28.98%,

11/09/24

.

37

37

991036639.UG.FTS.B,

28.98%,

11/09/24

.

581

585

991042554.UG.FTS.B,

28.98%,

11/09/24

.

1,882

1,913

991048693.UG.FTS.B,

28.98%,

11/09/24

.

680

699

991050918.UG.FTS.B,

28.98%,

11/09/24

.

682

704

991051457.UG.FTS.B,

28.98%,

11/09/24

.

431

287

991056744.UG.FTS.B,

28.98%,

11/09/24

.

334

334

991066590.UG.FTS.B,

28.98%,

11/09/24

.

544

544

991067435.UG.FTS.B,

28.98%,

11/09/24

.

523

539

991070859.UG.FTS.B,

28.98%,

11/09/24

.

330

337

991081306.UG.FTS.B,

28.98%,

11/09/24

.

77

76

991109146.UG.FTS.B,

28.98%,

11/09/24

.

705

696

991110836.UG.FTS.B,

28.98%,

11/09/24

..

542

550

991144600.UG.FTS.B,

28.98%,

11/09/24

.

274

271

991160869.UG.FTS.B,

28.98%,

11/09/24

.

242

239

991181015.UG.FTS.B,

28.98%,

11/09/24

.

132

130

991190864.UG.FTS.B,

28.98%,

11/09/24

.

234

230

991201969.UG.FTS.B,

28.98%,

11/09/24

.

251

255

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

288

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991209121.UG.FTS.B,

28.98%,

11/09/24

.

$

143

$

146

991213946.UG.FTS.B,

28.98%,

11/09/24

.

125

127

991214522.UG.FTS.B,

28.98%,

11/09/24

.

1,210

1,227

991214861.UG.FTS.B,

28.98%,

11/09/24

.

344

350

991215028.UG.FTS.B,

28.98%,

11/09/24

.

839

848

991215951.UG.FTS.B,

28.98%,

11/09/24

.

839

853

991217177.UG.FTS.B,

28.98%,

11/09/24

.

470

32

991014891.UG.FTS.B,

29.49%,

11/09/24

.

89

88

991016205.UG.FTS.B,

29.49%,

11/09/24

.

1,197

1,194

991016307.UG.FTS.B,

29.49%,

11/09/24

.

314

324

991017515.UG.FTS.B,

29.49%,

11/09/24

.

–

–

991017635.UG.FTS.B,

29.49%,

11/09/24

.

1,912

1,974

991017902.UG.FTS.B,

29.49%,

11/09/24

.

1,108

1,101

991018516.UG.FTS.B,

29.49%,

11/09/24

.

174

172

991020973.UG.FTS.B,

29.49%,

11/09/24

.

1,042

734

991022488.UG.FTS.B,

29.49%,

11/09/24

.

827

848

991023572.UG.FTS.B,

29.49%,

11/09/24

.

67

67

991023718.UG.FTS.B,

29.49%,

11/09/24

.

253

249

991024211.UG.FTS.B,

29.49%,

11/09/24

.

192

189

991032314.UG.FTS.B,

29.49%,

11/09/24

.

720

720

991032461.UG.FTS.B,

29.49%,

11/09/24

.

277

285

991038740.UG.FTS.B,

29.49%,

11/09/24

.

33

33

991051385.UG.FTS.B,

29.49%,

11/09/24

.

119

117

991053848.UG.FTS.B,

29.49%,

11/09/24

.

371

366

991056862.UG.FTS.B,

29.49%,

11/09/24

.

1,815

1,868

991057595.UG.FTS.B,

29.49%,

11/09/24

.

4,313

531

991057649.UG.FTS.B,

29.49%,

11/09/24

.

489

495

991057701.UG.FTS.B,

29.49%,

11/09/24

.

565

583

991066794.UG.FTS.B,

29.49%,

11/09/24

.

227

230

991067737.UG.FTS.B,

29.49%,

11/09/24

.

196

193

991075118.UG.FTS.B,

29.49%,

11/09/24

.

1,858

1,879

991076041.UG.FTS.B,

29.49%,

11/09/24

.

239

239

991086223.UG.FTS.B,

29.49%,

11/09/24

.

81

79

991088136.UG.FTS.B,

29.49%,

11/09/24

.

130

134

991092449.UG.FTS.B,

29.49%,

11/09/24

.

5

5

991107819.UG.FTS.B,

29.49%,

11/09/24

.

49

49

991130666.UG.FTS.B,

29.49%,

11/09/24

.

290

281

991135727.UG.FTS.B,

29.49%,

11/09/24

.

188

187

991139880.UG.FTS.B,

29.49%,

11/09/24

.

251

255

991143330.UG.FTS.B,

29.49%,

11/09/24

.

82

81

991148011.UG.FTS.B,

29.49%,

11/09/24

..

76

77

991169883.UG.FTS.B,

29.49%,

11/09/24

.

547

556

991171418.UG.FTS.B,

29.49%,

11/09/24

.

198

201

991171947.UG.FTS.B,

29.49%,

11/09/24

.

41

40

991172077.UG.FTS.B,

29.49%,

11/09/24

.

562

388

991206923.UG.FTS.B,

29.49%,

11/09/24

.

119

120

991208130.UG.FTS.B,

29.49%,

11/09/24

.

17

17

991210224.UG.FTS.B,

29.49%,

11/09/24

.

30

12

991211097.UG.FTS.B,

29.49%,

11/09/24

.

144

146

991213890.UG.FTS.B,

29.49%,

11/09/24

.

131

133

991215398.UG.FTS.B,

29.49%,

11/09/24

.

336

341

991215887.UG.FTS.B,

29.49%,

11/09/24

.

59

58

991216434.UG.FTS.B,

29.49%,

11/09/24

.

143

145

991081641.UG.FTS.B,

29.99%,

11/09/24

.

227

155

991045597.UG.FTS.B,

Zero

Cpn,

11/10/24

671

–

991049684.UG.FTS.B,

Zero

Cpn,

11/10/24

139

–

991052724.UG.FTS.B,

Zero

Cpn,

11/10/24

655

–

991080907.UG.FTS.B,

Zero

Cpn,

11/10/24

242

–

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991206815.UG.FTS.B,

Zero

Cpn,

11/10/24

$

77

$

–

991210309.UG.FTS.B,

Zero

Cpn,

11/10/24

72

–

991212341.UG.FTS.B,

Zero

Cpn,

11/10/24

124

–

991145829.UG.FTS.B,

14.98%,

11/10/24

.

–

–

991064938.UG.FTS.B,

15.97%,

11/10/24

.

297

303

991065102.UG.FTS.B,

15.97%,

11/10/24

.

547

540

991104046.UG.FTS.B,

15.97%,

11/10/24

.

3,079

569

991129317.UG.FTS.B,

15.97%,

11/10/24

.

6,130

6,199

991171941.UG.FTS.B,

15.97%,

11/10/24

.

2,949

2,902

991217897.UG.FTS.B,

15.97%,

11/10/24

.

1

1

991026755.UG.FTS.B,

16.99%,

11/10/24

.

95

94

991215470.UG.FTS.B,

17.99%,

11/10/24

.

339

333

991022677.UG.FTS.B,

18.97%,

11/10/24

.

1,264

1,285

991047675.UG.FTS.B,

18.97%,

11/10/24

.

421

(3)

991170027.UG.FTS.B,

18.97%,

11/10/24

.

308

310

991224324.UG.FTS.B,

18.97%,

11/10/24

.

410

402

991025347.UG.FTS.B,

19.21%,

11/10/24

.

151

148

991045857.UG.FTS.B,

19.21%,

11/10/24

.

156

154

991034507.UG.FTS.B,

19.8%,

11/10/24

..

5,435

5,469

991192679.UG.FTS.B,

19.8%,

11/10/24

..

453

456

991224383.UG.FTS.B,

19.8%,

11/10/24

..

924

903

991020976.UG.FTS.B,

19.99%,

11/10/24

.

466

465

991023319.UG.FTS.B,

19.99%,

11/10/24

.

501

510

991029759.UG.FTS.B,

19.99%,

11/10/24

.

199

199

991040584.UG.FTS.B,

19.99%,

11/10/24

.

111

111

991072413.UG.FTS.B,

19.99%,

11/10/24

.

178

181

991083656.UG.FTS.B,

19.99%,

11/10/24

.

64

5

991167380.UG.FTS.B,

19.99%,

11/10/24

.

364

359

991175759.UG.FTS.B,

19.99%,

11/10/24

.

48

47

991215937.UG.FTS.B,

19.99%,

11/10/24

.

658

669

991026082.UG.FTS.B,

20.46%,

11/10/24

.

520

511

991036969.UG.FTS.B,

20.46%,

11/10/24

.

346

339

991208911.UG.FTS.B,

20.98%,

11/10/24

.

0

0

991020455.UG.FTS.B,

21.46%,

11/10/24

.

148

8

991021705.UG.FTS.B,

21.46%,

11/10/24

.

1,241

1,207

991026735.UG.FTS.B,

21.46%,

11/10/24

.

256

251

991131037.UG.FTS.B,

21.46%,

11/10/24

.

512

498

991211771.UG.FTS.B,

21.46%,

11/10/24

.

80

81

991216720.UG.FTS.B,

21.46%,

11/10/24

.

9,904

9,914

991023237.UG.FTS.B,

21.97%,

11/10/24

.

328

321

991218535.UG.FTS.B,

21.97%,

11/10/24

.

61

61

991026806.UG.FTS.B,

21.98%,

11/10/24

.

244

246

991060027.UG.FTS.B,

21.98%,

11/10/24

.

197

171

991215892.UG.FTS.B,

21.98%,

11/10/24

.

474

474

991021583.UG.FTS.B,

22.97%,

11/10/24

.

582

570

991058444.UG.FTS.B,

22.97%,

11/10/24

.

1,412

1,383

991086114.UG.FTS.B,

22.97%,

11/10/24

.

31

31

991025675.UG.FTS.B,

23.95%,

11/10/24

.

1,840

383

991224574.UG.FTS.B,

23.95%,

11/10/24

.

382

370

991062365.UG.FTS.B,

24.95%,

11/10/24

.

379

369

991137901.UG.FTS.B,

25.95%,

11/10/24

.

214

207

991146323.UG.FTS.B,

25.95%,

11/10/24

.

158

153

991033385.UG.FTS.B,

26.94%,

11/10/24

.

733

48

991049934.UG.FTS.B,

26.94%,

11/10/24

.

685

691

991155305.UG.FTS.B,

26.94%,

11/10/24

.

199

13

991055480.UG.FTS.B,

27.99%,

11/10/24

.

169

175

991020520.UG.FTS.B,

28.98%,

11/10/24

.

302

302

991021327.UG.FTS.B,

28.98%,

11/10/24

.

205

205

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

289

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991022344.UG.FTS.B,

28.98%,

11/10/24

.

$

1,013

$

991

991022916.UG.FTS.B,

28.98%,

11/10/24

.

315

315

991022961.UG.FTS.B,

28.98%,

11/10/24

.

301

299

991025452.UG.FTS.B,

28.98%,

11/10/24

.

411

86

991025550.UG.FTS.B,

28.98%,

11/10/24

.

170

167

991026665.UG.FTS.B,

28.98%,

11/10/24

.

887

867

991026874.UG.FTS.B,

28.98%,

11/10/24

.

90

89

991026906.UG.FTS.B,

28.98%,

11/10/24

.

423

52

991033626.UG.FTS.B,

28.98%,

11/10/24

.

142

146

991037607.UG.FTS.B,

28.98%,

11/10/24

.

127

129

991038524.UG.FTS.B,

28.98%,

11/10/24

.

358

(15)

991039743.UG.FTS.B,

28.98%,

11/10/24

.

112

112

991044464.UG.FTS.B,

28.98%,

11/10/24

.

94

96

991054408.UG.FTS.B,

28.98%,

11/10/24

.

805

823

991059208.UG.FTS.B,

28.98%,

11/10/24

.

2,012

2,012

991062704.UG.FTS.B,

28.98%,

11/10/24

.

282

19

991063335.UG.FTS.B,

28.98%,

11/10/24

.

281

61

991076539.UG.FTS.B,

28.98%,

11/10/24

.

126

130

991080210.UG.FTS.B,

28.98%,

11/10/24

.

345

356

991103426.UG.FTS.B,

28.98%,

11/10/24

.

139

142

991108419.UG.FTS.B,

28.98%,

11/10/24

.

131

131

991113610.UG.FTS.B,

28.98%,

11/10/24

..

1,021

1,021

991126362.UG.FTS.B,

28.98%,

11/10/24

.

405

412

991130087.UG.FTS.B,

28.98%,

11/10/24

.

219

223

991140969.UG.FTS.B,

28.98%,

11/10/24

.

–

–

991198564.UG.FTS.B,

28.98%,

11/10/24

.

52

51

991200591.UG.FTS.B,

28.98%,

11/10/24

.

408

401

991203709.UG.FTS.B,

28.98%,

11/10/24

.

144

144

991203855.UG.FTS.B,

28.98%,

11/10/24

.

267

270

991212484.UG.FTS.B,

28.98%,

11/10/24

.

235

239

991212594.UG.FTS.B,

28.98%,

11/10/24

.

1,131

1,150

991216706.UG.FTS.B,

28.98%,

11/10/24

.

23

22

991218123.UG.FTS.B,

28.98%,

11/10/24

.

77

76

991021580.UG.FTS.B,

29.49%,

11/10/24

.

285

293

991022193.UG.FTS.B,

29.49%,

11/10/24

.

713

714

991022815.UG.FTS.B,

29.49%,

11/10/24

.

247

242

991023149.UG.FTS.B,

29.49%,

11/10/24

.

2,002

255

991023261.UG.FTS.B,

29.49%,

11/10/24

.

863

842

991027186.UG.FTS.B,

29.49%,

11/10/24

.

217

224

991030343.UG.FTS.B,

29.49%,

11/10/24

.

658

659

991031522.UG.FTS.B,

29.49%,

11/10/24

.

47

46

991050872.UG.FTS.B,

29.49%,

11/10/24

.

69

70

991054015.UG.FTS.B,

29.49%,

11/10/24

.

659

680

991054206.UG.FTS.B,

29.49%,

11/10/24

.

503

493

991056370.UG.FTS.B,

29.49%,

11/10/24

.

95

97

991057469.UG.FTS.B,

29.49%,

11/10/24

.

86

20

991063638.UG.FTS.B,

29.49%,

11/10/24

.

11

11

991066375.UG.FTS.B,

29.49%,

11/10/24

.

444

450

991066723.UG.FTS.B,

29.49%,

11/10/24

.

337

332

991069463.UG.FTS.B,

29.49%,

11/10/24

.

123

127

991079386.UG.FTS.B,

29.49%,

11/10/24

.

67

66

991095899.UG.FTS.B,

29.49%,

11/10/24

.

102

104

991100707.UG.FTS.B,

29.49%,

11/10/24

.

457

464

991105764.UG.FTS.B,

29.49%,

11/10/24

.

–

–

991108267.UG.FTS.B,

29.49%,

11/10/24

.

254

254

991160546.UG.FTS.B,

29.49%,

11/10/24

.

712

723

991171619.UG.FTS.B,

29.49%,

11/10/24

.

–

–

991189443.UG.FTS.B,

29.49%,

11/10/24

.

51

50

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991189830.UG.FTS.B,

29.49%,

11/10/24

.

$

88

$

87

991203842.UG.FTS.B,

29.49%,

11/10/24

.

29

29

991205598.UG.FTS.B,

29.49%,

11/10/24

.

226

229

991207636.UG.FTS.B,

29.49%,

11/10/24

.

658

641

991216288.UG.FTS.B,

29.49%,

11/10/24

.

126

128

991217456.UG.FTS.B,

29.49%,

11/10/24

.

4,219

4,240

991024862.UG.FTS.B,

Zero

Cpn,

11/11/24

608

–

991025735.UG.FTS.B,

Zero

Cpn,

11/11/24

29

–

991025827.UG.FTS.B,

Zero

Cpn,

11/11/24

72

–

991031052.UG.FTS.B,

Zero

Cpn,

11/11/24

1,248

–

991034540.UG.FTS.B,

Zero

Cpn,

11/11/24

1,057

–

991051051.UG.FTS.B,

Zero

Cpn,

11/11/24

245

–

991053310.UG.FTS.B,

Zero

Cpn,

11/11/24

410

–

991053938.UG.FTS.B,

Zero

Cpn,

11/11/24

197

–

991057479.UG.FTS.B,

Zero

Cpn,

11/11/24

68

–

991070324.UG.FTS.B,

Zero

Cpn,

11/11/24

45

–

991077520.UG.FTS.B,

Zero

Cpn,

11/11/24

177

–

991080098.UG.FTS.B,

Zero

Cpn,

11/11/24

53

–

991091398.UG.FTS.B,

Zero

Cpn,

11/11/24

187

–

991115171.UG.FTS.B,

Zero

Cpn,

11/11/24

50

–

991119875.UG.FTS.B,

Zero

Cpn,

11/11/24

120

–

991121280.UG.FTS.B,

Zero

Cpn,

11/11/24

900

–

991134678.UG.FTS.B,

Zero

Cpn,

11/11/24

400

–

991134984.UG.FTS.B,

Zero

Cpn,

11/11/24

700

–

991141997.UG.FTS.B,

Zero

Cpn,

11/11/24

300

–

991167220.UG.FTS.B,

Zero

Cpn,

11/11/24

575

–

991183579.UG.FTS.B,

Zero

Cpn,

11/11/24

685

–

991190761.UG.FTS.B,

Zero

Cpn,

11/11/24

422

–

991192431.UG.FTS.B,

Zero

Cpn,

11/11/24

135

–

991042328.UG.FTS.B,

14.98%,

11/11/24

.

1,139

1,159

991132695.UG.FTS.B,

15%,

11/11/24

....

2,048

2,085

991031588.UG.FTS.B,

15.97%,

11/11/24

.

27

27

991070425.UG.FTS.B,

15.97%,

11/11/24

.

120

123

991080741.UG.FTS.B,

15.97%,

11/11/24

.

1,232

1,255

991104598.UG.FTS.B,

15.97%,

11/11/24

..

359

66

991196606.UG.FTS.B,

15.97%,

11/11/24

..

74

74

991065340.UG.FTS.B,

16.99%,

11/11/24

.

1,102

1,120

991080165.UG.FTS.B,

16.99%,

11/11/24

.

167

169

991134367.UG.FTS.B,

16.99%,

11/11/24

..

1,269

1,287

991148708.UG.FTS.B,

16.99%,

11/11/24

..

–

–

991224312.UG.FTS.B,

16.99%,

11/11/24

.

886

61

991225418.UG.FTS.B,

16.99%,

11/11/24

.

815

800

991033893.UG.FTS.B,

17.97%,

11/11/24

.

577

569

991033248.UG.FTS.B,

17.99%,

11/11/24

.

422

414

991033250.UG.FTS.B,

17.99%,

11/11/24

.

696

687

991033858.UG.FTS.B,

17.99%,

11/11/24

.

542

546

991043832.UG.FTS.B,

17.99%,

11/11/24

.

715

728

991079063.UG.FTS.B,

17.99%,

11/11/24

.

192

188

991099988.UG.FTS.B,

17.99%,

11/11/24

.

511

510

991108417.UG.FTS.B,

17.99%,

11/11/24

..

72

73

991165672.UG.FTS.B,

17.99%,

11/11/24

..

454

462

991031698.UG.FTS.B,

18.97%,

11/11/24

.

720

710

991036433.UG.FTS.B,

18.97%,

11/11/24

.

850

837

991044359.UG.FTS.B,

18.97%,

11/11/24

.

252

257

991059342.UG.FTS.B,

18.97%,

11/11/24

.

590

41

991097430.UG.FTS.B,

18.97%,

11/11/24

.

745

734

991104909.UG.FTS.B,

18.97%,

11/11/24

..

776

761

991135808.UG.FTS.B,

18.97%,

11/11/24

..

301

302

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

290

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991141143.UG.FTS.B,

18.97%,

11/11/24

..

$

12,375

$

12,581

991148541.UG.FTS.B,

18.97%,

11/11/24

..

330

335

991214432.UG.FTS.B,

18.97%,

11/11/24

.

16

16

991025462.UG.FTS.B,

19.21%,

11/11/24

.

730

51

991031272.UG.FTS.B,

19.21%,

11/11/24

.

1,241

1,261

991054739.UG.FTS.B,

19.21%,

11/11/24

.

1,384

(6)

991069631.UG.FTS.B,

19.21%,

11/11/24

.

113

115

991081127.UG.FTS.B,

19.21%,

11/11/24

..

174

(1)

991081746.UG.FTS.B,

19.21%,

11/11/24

.

10

10

991105899.UG.FTS.B,

19.21%,

11/11/24

..

323

318

991119597.UG.FTS.B,

19.21%,

11/11/24

..

628

638

991184036.UG.FTS.B,

19.21%,

11/11/24

..

490

488

991095162.UG.FTS.B,

19.46%,

11/11/24

.

1,816

1,774

991025522.UG.FTS.B,

19.8%,

11/11/24

..

310

309

991027814.UG.FTS.B,

19.8%,

11/11/24

..

1,711

120

991030105.UG.FTS.B,

19.8%,

11/11/24

..

169

167

991037339.UG.FTS.B,

19.8%,

11/11/24

..

3,665

729

991045010.UG.FTS.B,

19.8%,

11/11/24

..

551

559

991056649.UG.FTS.B,

19.8%,

11/11/24

..

265

262

991063208.UG.FTS.B,

19.8%,

11/11/24

..

516

509

991080931.UG.FTS.B,

19.8%,

11/11/24

..

833

168

991090906.UG.FTS.B,

19.8%,

11/11/24

..

463

470

991135236.UG.FTS.B,

19.8%,

11/11/24

...

1,652

1,676

991201514.UG.FTS.B,

19.8%,

11/11/24

..

168

12

991225010.UG.FTS.B,

19.8%,

11/11/24

..

955

66

991024759.UG.FTS.B,

19.99%,

11/11/24

.

388

394

991025263.UG.FTS.B,

19.99%,

11/11/24

.

34

34

991025619.UG.FTS.B,

19.99%,

11/11/24

.

144

146

991026673.UG.FTS.B,

19.99%,

11/11/24

.

966

997

991027149.UG.FTS.B,

19.99%,

11/11/24

.

304

308

991030107.UG.FTS.B,

19.99%,

11/11/24

.

2,083

2,145

991030291.UG.FTS.B,

19.99%,

11/11/24

.

1,030

1,064

991031168.UG.FTS.B,

19.99%,

11/11/24

..

391

29

991035914.UG.FTS.B,

19.99%,

11/11/24

.

329

337

991039687.UG.FTS.B,

19.99%,

11/11/24

.

99

101

991046583.UG.FTS.B,

19.99%,

11/11/24

.

36

36

991049873.UG.FTS.B,

19.99%,

11/11/24

.

1,180

1,215

991056093.UG.FTS.B,

19.99%,

11/11/24

.

372

44

991056523.UG.FTS.B,

19.99%,

11/11/24

.

186

191

991086088.UG.FTS.B,

19.99%,

11/11/24

.

79

81

991097627.UG.FTS.B,

19.99%,

11/11/24

.

33

34

991102366.UG.FTS.B,

19.99%,

11/11/24

..

271

271

991105048.UG.FTS.B,

19.99%,

11/11/24

..

150

153

991108215.UG.FTS.B,

19.99%,

11/11/24

..

643

664

991115949.UG.FTS.B,

19.99%,

11/11/24

..

251

259

991117587.UG.FTS.B,

19.99%,

11/11/24

..

265

274

991117644.UG.FTS.B,

19.99%,

11/11/24

..

10

10

991120901.UG.FTS.B,

19.99%,

11/11/24

..

325

328

991134848.UG.FTS.B,

19.99%,

11/11/24

..

457

470

991148839.UG.FTS.B,

19.99%,

11/11/24

..

826

853

991162827.UG.FTS.B,

19.99%,

11/11/24

..

101

7

991174012.UG.FTS.B,

19.99%,

11/11/24

..

347

358

991181923.UG.FTS.B,

19.99%,

11/11/24

..

965

982

991026813.UG.FTS.B,

20.46%,

11/11/24

.

3,328

3,375

991029729.UG.FTS.B,

20.46%,

11/11/24

.

154

11

991034527.UG.FTS.B,

20.46%,

11/11/24

.

1,671

1,695

991063618.UG.FTS.B,

20.46%,

11/11/24

.

562

553

991069614.UG.FTS.B,

20.46%,

11/11/24

.

26

26

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991074464.UG.FTS.B,

20.46%,

11/11/24

.

$

255

$

18

991149259.UG.FTS.B,

20.46%,

11/11/24

..

1,657

1,680

991167644.UG.FTS.B,

20.46%,

11/11/24

..

827

838

991029731.UG.FTS.B,

20.97%,

11/11/24

.

2,178

2,207

991035841.UG.FTS.B,

20.97%,

11/11/24

.

177

20

991066829.UG.FTS.B,

20.97%,

11/11/24

.

238

241

991090708.UG.FTS.B,

20.97%,

11/11/24

.

303

298

991126570.UG.FTS.B,

20.97%,

11/11/24

..

1,591

1,611

991146663.UG.FTS.B,

20.97%,

11/11/24

..

44

44

991166977.UG.FTS.B,

20.97%,

11/11/24

..

580

587

991214951.UG.FTS.B,

20.97%,

11/11/24

.

412

414

991025029.UG.FTS.B,

21.46%,

11/11/24

.

296

60

991032177.UG.FTS.B,

21.46%,

11/11/24

.

197

195

991038065.UG.FTS.B,

21.46%,

11/11/24

.

15

14

991044201.UG.FTS.B,

21.46%,

11/11/24

.

590

580

991044553.UG.FTS.B,

21.46%,

11/11/24

.

550

557

991066846.UG.FTS.B,

21.46%,

11/11/24

.

464

451

991074504.UG.FTS.B,

21.46%,

11/11/24

.

208

211

991094568.UG.FTS.B,

21.46%,

11/11/24

.

978

988

991100724.UG.FTS.B,

21.46%,

11/11/24

..

71

70

991104833.UG.FTS.B,

21.46%,

11/11/24

..

91

92

991113632.UG.FTS.B,

21.46%,

11/11/24

..

367

366

991120309.UG.FTS.B,

21.46%,

11/11/24

..

1,760

1,756

991139420.UG.FTS.B,

21.46%,

11/11/24

..

523

521

991141383.UG.FTS.B,

21.46%,

11/11/24

..

249

252

991029734.UG.FTS.B,

21.97%,

11/11/24

.

300

58

991030263.UG.FTS.B,

21.97%,

11/11/24

.

1,421

291

991032262.UG.FTS.B,

21.97%,

11/11/24

.

43

42

991101279.UG.FTS.B,

21.97%,

11/11/24

..

490

476

991213411.UG.FTS.B,

21.97%,

11/11/24

..

20

20

991026361.UG.FTS.B,

21.98%,

11/11/24

.

1,345

1,350

991036275.UG.FTS.B,

21.98%,

11/11/24

.

170

171

991048924.UG.FTS.B,

21.98%,

11/11/24

.

1,234

1,246

991050845.UG.FTS.B,

21.98%,

11/11/24

.

300

303

991159028.UG.FTS.B,

21.98%,

11/11/24

..

584

385

991187665.UG.FTS.B,

21.98%,

11/11/24

..

409

409

991197071.UG.FTS.B,

21.98%,

11/11/24

..

285

56

991217106.UG.FTS.B,

21.98%,

11/11/24

.

410

410

991125236.UG.FTS.B,

22.48%,

11/11/24

..

504

490

991053429.UG.FTS.B,

22.95%,

11/11/24

.

178

175

991058286.UG.FTS.B,

22.95%,

11/11/24

.

1,100

1,076

991025258.UG.FTS.B,

22.97%,

11/11/24

.

1,770

126

991031785.UG.FTS.B,

22.97%,

11/11/24

.

254

248

991032849.UG.FTS.B,

22.97%,

11/11/24

.

549

66

991033157.UG.FTS.B,

22.97%,

11/11/24

.

1,419

1,390

991145971.UG.FTS.B,

22.97%,

11/11/24

..

71

72

991065188.UG.FTS.B,

23.95%,

11/11/24

.

695

680

991075499.UG.FTS.B,

23.95%,

11/11/24

.

13

13

991098718.UG.FTS.B,

23.95%,

11/11/24

.

726

710

991166851.UG.FTS.B,

23.95%,

11/11/24

..

250

252

991037747.UG.FTS.B,

24.95%,

11/11/24

.

898

877

991097256.UG.FTS.B,

25.94%,

11/11/24

.

539

542

991098171.UG.FTS.B,

25.94%,

11/11/24

.

265

267

991170500.UG.FTS.B,

25.94%,

11/11/24

..

97

95

991203200.UG.FTS.B,

25.94%,

11/11/24

.

172

171

991080911.UG.FTS.B,

25.95%,

11/11/24

..

479

482

991177584.UG.FTS.B,

25.95%,

11/11/24

..

609

606

991069043.UG.FTS.B,

26.49%,

11/11/24

.

288

294

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

291

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991107897.UG.FTS.B,

26.94%,

11/11/24

..

$

129

$

(4)

991029732.UG.FTS.B,

27.99%,

11/11/24

.

3,391

3,502

991029735.UG.FTS.B,

27.99%,

11/11/24

.

188

194

991048527.UG.FTS.B,

27.99%,

11/11/24

.

598

618

991056287.UG.FTS.B,

27.99%,

11/11/24

.

1,019

130

991067195.UG.FTS.B,

27.99%,

11/11/24

.

29

29

991078263.UG.FTS.B,

27.99%,

11/11/24

.

325

41

991123731.UG.FTS.B,

27.99%,

11/11/24

..

97

100

991024644.UG.FTS.B,

28.98%,

11/11/24

.

296

304

991024878.UG.FTS.B,

28.98%,

11/11/24

.

564

583

991025217.UG.FTS.B,

28.98%,

11/11/24

.

67

69

991025543.UG.FTS.B,

28.98%,

11/11/24

.

1

0

991025926.UG.FTS.B,

28.98%,

11/11/24

.

0

0

991026011.UG.FTS.B,

28.98%,

11/11/24

..

133

17

991026090.UG.FTS.B,

28.98%,

11/11/24

.

259

267

991026750.UG.FTS.B,

28.98%,

11/11/24

.

1

1

991026911.UG.FTS.B,

28.98%,

11/11/24

..

74

76

991030570.UG.FTS.B,

28.98%,

11/11/24

.

152

155

991031323.UG.FTS.B,

28.98%,

11/11/24

.

779

786

991031364.UG.FTS.B,

28.98%,

11/11/24

.

2

2

991031381.UG.FTS.B,

28.98%,

11/11/24

.

143

146

991032381.UG.FTS.B,

28.98%,

11/11/24

.

2

2

991032710.UG.FTS.B,

28.98%,

11/11/24

.

155

160

991033506.UG.FTS.B,

28.98%,

11/11/24

.

38

3

991033906.UG.FTS.B,

28.98%,

11/11/24

.

142

142

991034034.UG.FTS.B,

28.98%,

11/11/24

.

79

81

991034495.UG.FTS.B,

28.98%,

11/11/24

.

151

155

991034619.UG.FTS.B,

28.98%,

11/11/24

.

343

351

991036245.UG.FTS.B,

28.98%,

11/11/24

.

112

114

991036443.UG.FTS.B,

28.98%,

11/11/24

.

618

638

991036674.UG.FTS.B,

28.98%,

11/11/24

.

234

242

991037303.UG.FTS.B,

28.98%,

11/11/24

.

75

77

991037437.UG.FTS.B,

28.98%,

11/11/24

.

198

42

991037873.UG.FTS.B,

28.98%,

11/11/24

.

2,028

140

991038306.UG.FTS.B,

28.98%,

11/11/24

.

219

218

991039782.UG.FTS.B,

28.98%,

11/11/24

.

6

6

991040917.UG.FTS.B,

28.98%,

11/11/24

.

178

184

991041009.UG.FTS.B,

28.98%,

11/11/24

.

119

118

991043123.UG.FTS.B,

28.98%,

11/11/24

.

270

19

991043862.UG.FTS.B,

28.98%,

11/11/24

.

2,527

2,570

991044106.UG.FTS.B,

28.98%,

11/11/24

.

33

13

991044613.UG.FTS.B,

28.98%,

11/11/24

.

466

479

991044726.UG.FTS.B,

28.98%,

11/11/24

.

2

2

991045675.UG.FTS.B,

28.98%,

11/11/24

.

232

239

991046706.UG.FTS.B,

28.98%,

11/11/24

.

601

41

991047131.UG.FTS.B,

28.98%,

11/11/24

.

48

49

991047937.UG.FTS.B,

28.98%,

11/11/24

.

273

273

991049261.UG.FTS.B,

28.98%,

11/11/24

.

132

135

991049607.UG.FTS.B,

28.98%,

11/11/24

.

305

315

991049893.UG.FTS.B,

28.98%,

11/11/24

.

151

156

991051286.UG.FTS.B,

28.98%,

11/11/24

.

296

305

991051867.UG.FTS.B,

28.98%,

11/11/24

.

46

46

991052186.UG.FTS.B,

28.98%,

11/11/24

.

–

–

991052684.UG.FTS.B,

28.98%,

11/11/24

.

192

198

991053400.UG.FTS.B,

28.98%,

11/11/24

.

1,513

1,562

991054044.UG.FTS.B,

28.98%,

11/11/24

.

77

79

991054638.UG.FTS.B,

28.98%,

11/11/24

.

82

84

991054718.UG.FTS.B,

28.98%,

11/11/24

.

342

354

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991054721.UG.FTS.B,

28.98%,

11/11/24

.

$

2,522

$

2,564

991055229.UG.FTS.B,

28.98%,

11/11/24

.

483

494

991055984.UG.FTS.B,

28.98%,

11/11/24

.

109

113

991056457.UG.FTS.B,

28.98%,

11/11/24

.

893

923

991057097.UG.FTS.B,

28.98%,

11/11/24

.

190

196

991057928.UG.FTS.B,

28.98%,

11/11/24

.

574

593

991058079.UG.FTS.B,

28.98%,

11/11/24

.

59

59

991059086.UG.FTS.B,

28.98%,

11/11/24

.

124

123

991059607.UG.FTS.B,

28.98%,

11/11/24

.

353

364

991059725.UG.FTS.B,

28.98%,

11/11/24

.

215

222

991059969.UG.FTS.B,

28.98%,

11/11/24

.

213

220

991060314.UG.FTS.B,

28.98%,

11/11/24

.

5

5

991060423.UG.FTS.B,

28.98%,

11/11/24

.

224

18

991061665.UG.FTS.B,

28.98%,

11/11/24

.

195

202

991061718.UG.FTS.B,

28.98%,

11/11/24

.

187

193

991062449.UG.FTS.B,

28.98%,

11/11/24

.

163

167

991062713.UG.FTS.B,

28.98%,

11/11/24

.

310

314

991070416.UG.FTS.B,

28.98%,

11/11/24

.

147

149

991070880.UG.FTS.B,

28.98%,

11/11/24

.

182

188

991071245.UG.FTS.B,

28.98%,

11/11/24

.

1,146

1,166

991071859.UG.FTS.B,

28.98%,

11/11/24

.

214

221

991073100.UG.FTS.B,

28.98%,

11/11/24

.

256

262

991076272.UG.FTS.B,

28.98%,

11/11/24

.

334

343

991076323.UG.FTS.B,

28.98%,

11/11/24

.

472

486

991076865.UG.FTS.B,

28.98%,

11/11/24

.

101

104

991077608.UG.FTS.B,

28.98%,

11/11/24

.

166

171

991077789.UG.FTS.B,

28.98%,

11/11/24

.

390

27

991077815.UG.FTS.B,

28.98%,

11/11/24

.

146

10

991078682.UG.FTS.B,

28.98%,

11/11/24

.

1,254

1,295

991079069.UG.FTS.B,

28.98%,

11/11/24

.

254

262

991080796.UG.FTS.B,

28.98%,

11/11/24

.

468

483

991081499.UG.FTS.B,

28.98%,

11/11/24

.

195

14

991085565.UG.FTS.B,

28.98%,

11/11/24

.

140

143

991087454.UG.FTS.B,

28.98%,

11/11/24

.

205

209

991090184.UG.FTS.B,

28.98%,

11/11/24

.

83

85

991091995.UG.FTS.B,

28.98%,

11/11/24

.

132

134

991094513.UG.FTS.B,

28.98%,

11/11/24

.

3,836

3,961

991097574.UG.FTS.B,

28.98%,

11/11/24

.

370

382

991100435.UG.FTS.B,

28.98%,

11/11/24

..

180

179

991104322.UG.FTS.B,

28.98%,

11/11/24

..

187

193

991106885.UG.FTS.B,

28.98%,

11/11/24

..

77

79

991107577.UG.FTS.B,

28.98%,

11/11/24

..

103

106

991112840.UG.FTS.B,

28.98%,

11/11/24

..

198

204

991116478.UG.FTS.B,

28.98%,

11/11/24

..

129

9

991118204.UG.FTS.B,

28.98%,

11/11/24

..

32

32

991118681.UG.FTS.B,

28.98%,

11/11/24

..

516

514

991120675.UG.FTS.B,

28.98%,

11/11/24

..

424

437

991122438.UG.FTS.B,

28.98%,

11/11/24

..

1,380

1,407

991124008.UG.FTS.B,

28.98%,

11/11/24

..

123

127

991125224.UG.FTS.B,

28.98%,

11/11/24

..

35

36

991128202.UG.FTS.B,

28.98%,

11/11/24

..

308

318

991128244.UG.FTS.B,

28.98%,

11/11/24

..

424

438

991132545.UG.FTS.B,

28.98%,

11/11/24

..

331

342

991132831.UG.FTS.B,

28.98%,

11/11/24

..

560

564

991133083.UG.FTS.B,

28.98%,

11/11/24

..

304

313

991137895.UG.FTS.B,

28.98%,

11/11/24

..

54

4

991143527.UG.FTS.B,

28.98%,

11/11/24

..

287

20

991144617.UG.FTS.B,

28.98%,

11/11/24

..

288

297

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

292

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991148383.UG.FTS.B,

28.98%,

11/11/24

..

$

1,694

$

1,749

991149570.UG.FTS.B,

28.98%,

11/11/24

..

508

519

991151147.UG.FTS.B,

28.98%,

11/11/24

..

1,490

1,517

991153131.UG.FTS.B,

28.98%,

11/11/24

..

51

52

991154102.UG.FTS.B,

28.98%,

11/11/24

..

1,356

921

991154941.UG.FTS.B,

28.98%,

11/11/24

..

23

23

991158260.UG.FTS.B,

28.98%,

11/11/24

..

9

9

991161941.UG.FTS.B,

28.98%,

11/11/24

..

29

29

991163214.UG.FTS.B,

28.98%,

11/11/24

..

8

8

991164690.UG.FTS.B,

28.98%,

11/11/24

..

205

212

991164945.UG.FTS.B,

28.98%,

11/11/24

..

561

578

991167348.UG.FTS.B,

28.98%,

11/11/24

..

196

201

991167574.UG.FTS.B,

28.98%,

11/11/24

..

295

61

991167851.UG.FTS.B,

28.98%,

11/11/24

..

169

174

991170640.UG.FTS.B,

28.98%,

11/11/24

..

48

49

991171146.UG.FTS.B,

28.98%,

11/11/24

..

414

411

991171156.UG.FTS.B,

28.98%,

11/11/24

..

110

114

991171688.UG.FTS.B,

28.98%,

11/11/24

..

286

290

991173041.UG.FTS.B,

28.98%,

11/11/24

..

93

96

991175878.UG.FTS.B,

28.98%,

11/11/24

..

274

275

991176698.UG.FTS.B,

28.98%,

11/11/24

..

421

425

991178953.UG.FTS.B,

28.98%,

11/11/24

..

137

139

991180529.UG.FTS.B,

28.98%,

11/11/24

..

105

107

991182117.UG.FTS.B,

28.98%,

11/11/24

..

221

225

991182385.UG.FTS.B,

28.98%,

11/11/24

..

259

56

991191896.UG.FTS.B,

28.98%,

11/11/24

..

170

172

991192648.UG.FTS.B,

28.98%,

11/11/24

..

87

20

991195039.UG.FTS.B,

28.98%,

11/11/24

..

462

470

991196736.UG.FTS.B,

28.98%,

11/11/24

..

271

275

991197445.UG.FTS.B,

28.98%,

11/11/24

..

2,780

2,827

991197617.UG.FTS.B,

28.98%,

11/11/24

..

716

710

991199231.UG.FTS.B,

28.98%,

11/11/24

..

12

12

991199872.UG.FTS.B,

28.98%,

11/11/24

..

150

(6)

991200665.UG.FTS.B,

28.98%,

11/11/24

.

41

41

991201385.UG.FTS.B,

28.98%,

11/11/24

.

238

238

991202073.UG.FTS.B,

28.98%,

11/11/24

.

27

27

991209693.UG.FTS.B,

28.98%,

11/11/24

.

19

19

991214495.UG.FTS.B,

28.98%,

11/11/24

.

328

333

991214810.UG.FTS.B,

28.98%,

11/11/24

.

123

(5)

991218087.UG.FTS.B,

28.98%,

11/11/24

.

68

69

991024882.UG.FTS.B,

29.49%,

11/11/24

.

220

224

991025192.UG.FTS.B,

29.49%,

11/11/24

.

788

808

991025986.UG.FTS.B,

29.49%,

11/11/24

.

188

189

991026021.UG.FTS.B,

29.49%,

11/11/24

.

629

650

991026475.UG.FTS.B,

29.49%,

11/11/24

.

105

(5)

991026581.UG.FTS.B,

29.49%,

11/11/24

.

163

11

991026609.UG.FTS.B,

29.49%,

11/11/24

.

57

57

991026611.UG.FTS.B,

29.49%,

11/11/24

..

314

325

991026664.UG.FTS.B,

29.49%,

11/11/24

.

300

307

991029636.UG.FTS.B,

29.49%,

11/11/24

.

1,288

1,331

991029650.UG.FTS.B,

29.49%,

11/11/24

.

133

138

991029737.UG.FTS.B,

29.49%,

11/11/24

.

74

5

991029833.UG.FTS.B,

29.49%,

11/11/24

.

116

120

991029926.UG.FTS.B,

29.49%,

11/11/24

.

302

313

991030193.UG.FTS.B,

29.49%,

11/11/24

.

45

45

991030607.UG.FTS.B,

29.49%,

11/11/24

.

187

184

991030862.UG.FTS.B,

29.49%,

11/11/24

.

606

626

991030974.UG.FTS.B,

29.49%,

11/11/24

.

256

263

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991031153.UG.FTS.B,

29.49%,

11/11/24

..

$

81

$

(7)

991031395.UG.FTS.B,

29.49%,

11/11/24

.

128

130

991031396.UG.FTS.B,

29.49%,

11/11/24

.

78

80

991031493.UG.FTS.B,

29.49%,

11/11/24

.

193

200

991031741.UG.FTS.B,

29.49%,

11/11/24

.

92

95

991031794.UG.FTS.B,

29.49%,

11/11/24

.

292

290

991032286.UG.FTS.B,

29.49%,

11/11/24

.

498

514

991032433.UG.FTS.B,

29.49%,

11/11/24

.

401

414

991032529.UG.FTS.B,

29.49%,

11/11/24

.

58

58

991032871.UG.FTS.B,

29.49%,

11/11/24

.

129

94

991032874.UG.FTS.B,

29.49%,

11/11/24

.

29

14

991033194.UG.FTS.B,

29.49%,

11/11/24

.

80

82

991033465.UG.FTS.B,

29.49%,

11/11/24

.

278

195

991033984.UG.FTS.B,

29.49%,

11/11/24

.

679

702

991035463.UG.FTS.B,

29.49%,

11/11/24

.

159

34

991037518.UG.FTS.B,

29.49%,

11/11/24

.

196

203

991037733.UG.FTS.B,

29.49%,

11/11/24

.

40

40

991038962.UG.FTS.B,

29.49%,

11/11/24

.

141

145

991039519.UG.FTS.B,

29.49%,

11/11/24

.

261

260

991039534.UG.FTS.B,

29.49%,

11/11/24

.

559

576

991039964.UG.FTS.B,

29.49%,

11/11/24

.

719

738

991040131.UG.FTS.B,

29.49%,

11/11/24

.

396

265

991040295.UG.FTS.B,

29.49%,

11/11/24

.

4,643

4,751

991040377.UG.FTS.B,

29.49%,

11/11/24

.

80

82

991040614.UG.FTS.B,

29.49%,

11/11/24

.

620

636

991041124.UG.FTS.B,

29.49%,

11/11/24

..

245

253

991041612.UG.FTS.B,

29.49%,

11/11/24

.

2,577

2,666

991042626.UG.FTS.B,

29.49%,

11/11/24

.

8

8

991043474.UG.FTS.B,

29.49%,

11/11/24

.

504

520

991044198.UG.FTS.B,

29.49%,

11/11/24

.

63

65

991044223.UG.FTS.B,

29.49%,

11/11/24

.

76

78

991044520.UG.FTS.B,

29.49%,

11/11/24

.

–

–

991044627.UG.FTS.B,

29.49%,

11/11/24

.

161

165

991044948.UG.FTS.B,

29.49%,

11/11/24

.

161

165

991046289.UG.FTS.B,

29.49%,

11/11/24

.

84

6

991046828.UG.FTS.B,

29.49%,

11/11/24

.

178

183

991048387.UG.FTS.B,

29.49%,

11/11/24

.

691

708

991048668.UG.FTS.B,

29.49%,

11/11/24

.

2,251

2,313

991048724.UG.FTS.B,

29.49%,

11/11/24

.

213

220

991049842.UG.FTS.B,

29.49%,

11/11/24

.

9

9

991050337.UG.FTS.B,

29.49%,

11/11/24

.

227

234

991051905.UG.FTS.B,

29.49%,

11/11/24

.

610

614

991052158.UG.FTS.B,

29.49%,

11/11/24

.

59

60

991052618.UG.FTS.B,

29.49%,

11/11/24

.

1,661

1,715

991052641.UG.FTS.B,

29.49%,

11/11/24

.

32

2

991053274.UG.FTS.B,

29.49%,

11/11/24

.

573

573

991055838.UG.FTS.B,

29.49%,

11/11/24

.

257

266

991056442.UG.FTS.B,

29.49%,

11/11/24

.

27

27

991057411.UG.FTS.B,

29.49%,

11/11/24

..

122

125

991057605.UG.FTS.B,

29.49%,

11/11/24

.

62

63

991059092.UG.FTS.B,

29.49%,

11/11/24

.

731

729

991059880.UG.FTS.B,

29.49%,

11/11/24

.

28

28

991059943.UG.FTS.B,

29.49%,

11/11/24

.

178

40

991060500.UG.FTS.B,

29.49%,

11/11/24

.

77

63

991060936.UG.FTS.B,

29.49%,

11/11/24

.

574

395

991061585.UG.FTS.B,

29.49%,

11/11/24

.

57

58

991062394.UG.FTS.B,

29.49%,

11/11/24

.

1,263

1,292

991062440.UG.FTS.B,

29.49%,

11/11/24

.

63

62

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

293

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991062486.UG.FTS.B,

29.49%,

11/11/24

.

$

36

$

35

991062532.UG.FTS.B,

29.49%,

11/11/24

.

240

242

991062627.UG.FTS.B,

29.49%,

11/11/24

.

541

548

991062693.UG.FTS.B,

29.49%,

11/11/24

.

40

41

991062748.UG.FTS.B,

29.49%,

11/11/24

.

574

593

991062822.UG.FTS.B,

29.49%,

11/11/24

.

372

385

991062995.UG.FTS.B,

29.49%,

11/11/24

.

172

176

991063510.UG.FTS.B,

29.49%,

11/11/24

.

70

71

991063512.UG.FTS.B,

29.49%,

11/11/24

.

2,060

2,111

991064251.UG.FTS.B,

29.49%,

11/11/24

.

71

73

991064679.UG.FTS.B,

29.49%,

11/11/24

.

352

359

991065705.UG.FTS.B,

29.49%,

11/11/24

.

243

252

991066138.UG.FTS.B,

29.49%,

11/11/24

.

26

26

991067434.UG.FTS.B,

29.49%,

11/11/24

.

590

609

991067458.UG.FTS.B,

29.49%,

11/11/24

.

423

438

991069527.UG.FTS.B,

29.49%,

11/11/24

.

416

423

991069588.UG.FTS.B,

29.49%,

11/11/24

.

27

27

991069959.UG.FTS.B,

29.49%,

11/11/24

.

51

4

991070049.UG.FTS.B,

29.49%,

11/11/24

.

77

76

991070132.UG.FTS.B,

29.49%,

11/11/24

.

73

75

991070297.UG.FTS.B,

29.49%,

11/11/24

.

327

329

991071633.UG.FTS.B,

29.49%,

11/11/24

.

379

293

991071715.UG.FTS.B,

29.49%,

11/11/24

.

91

93

991071934.UG.FTS.B,

29.49%,

11/11/24

.

154

153

991072390.UG.FTS.B,

29.49%,

11/11/24

.

849

876

991072862.UG.FTS.B,

29.49%,

11/11/24

.

1,516

1,057

991073326.UG.FTS.B,

29.49%,

11/11/24

.

1,052

233

991073554.UG.FTS.B,

29.49%,

11/11/24

.

187

(8)

991074295.UG.FTS.B,

29.49%,

11/11/24

.

252

256

991074648.UG.FTS.B,

29.49%,

11/11/24

.

1,832

1,892

991074770.UG.FTS.B,

29.49%,

11/11/24

.

398

396

991076554.UG.FTS.B,

29.49%,

11/11/24

.

863

197

991077060.UG.FTS.B,

29.49%,

11/11/24

.

25

4

991079012.UG.FTS.B,

29.49%,

11/11/24

.

45

46

991079129.UG.FTS.B,

29.49%,

11/11/24

.

481

476

991079179.UG.FTS.B,

29.49%,

11/11/24

.

16

16

991080424.UG.FTS.B,

29.49%,

11/11/24

.

478

491

991081009.UG.FTS.B,

29.49%,

11/11/24

.

135

133

991081104.UG.FTS.B,

29.49%,

11/11/24

..

403

51

991081273.UG.FTS.B,

29.49%,

11/11/24

.

171

177

991081375.UG.FTS.B,

29.49%,

11/11/24

.

393

28

991084240.UG.FTS.B,

29.49%,

11/11/24

.

14

13

991084245.UG.FTS.B,

29.49%,

11/11/24

.

193

192

991085072.UG.FTS.B,

29.49%,

11/11/24

.

309

22

991085994.UG.FTS.B,

29.49%,

11/11/24

.

425

439

991086224.UG.FTS.B,

29.49%,

11/11/24

.

186

192

991087016.UG.FTS.B,

29.49%,

11/11/24

.

854

883

991087055.UG.FTS.B,

29.49%,

11/11/24

.

114

112

991087089.UG.FTS.B,

29.49%,

11/11/24

.

512

529

991087698.UG.FTS.B,

29.49%,

11/11/24

.

–

–

991088378.UG.FTS.B,

29.49%,

11/11/24

.

105

104

991089870.UG.FTS.B,

29.49%,

11/11/24

.

931

955

991090935.UG.FTS.B,

29.49%,

11/11/24

.

35

31

991091062.UG.FTS.B,

29.49%,

11/11/24

.

243

251

991091194.UG.FTS.B,

29.49%,

11/11/24

..

42

42

991092708.UG.FTS.B,

29.49%,

11/11/24

.

8

8

991092922.UG.FTS.B,

29.49%,

11/11/24

.

230

229

991093390.UG.FTS.B,

29.49%,

11/11/24

.

522

533

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991093484.UG.FTS.B,

29.49%,

11/11/24

.

$

92

$

95

991096029.UG.FTS.B,

29.49%,

11/11/24

.

36

(2)

991097673.UG.FTS.B,

29.49%,

11/11/24

.

113

117

991098015.UG.FTS.B,

29.49%,

11/11/24

.

104

–

991100732.UG.FTS.B,

29.49%,

11/11/24

..

0

0

991100786.UG.FTS.B,

29.49%,

11/11/24

..

62

51

991102456.UG.FTS.B,

29.49%,

11/11/24

..

766

791

991102735.UG.FTS.B,

29.49%,

11/11/24

..

–

–

991103647.UG.FTS.B,

29.49%,

11/11/24

..

11

6

991104650.UG.FTS.B,

29.49%,

11/11/24

..

–

–

991105317.UG.FTS.B,

29.49%,

11/11/24

..

53

54

991105795.UG.FTS.B,

29.49%,

11/11/24

..

314

325

991106129.UG.FTS.B,

29.49%,

11/11/24

..

71

72

991107881.UG.FTS.B,

29.49%,

11/11/24

..

174

179

991110402.UG.FTS.B,

29.49%,

11/11/24

..

21

21

991111641.UG.FTS.B,

29.49%,

11/11/24

..

66

67

991112506.UG.FTS.B,

29.49%,

11/11/24

..

0

0

991113486.UG.FTS.B,

29.49%,

11/11/24

..

272

273

991113621.UG.FTS.B,

29.49%,

11/11/24

..

1,442

1,474

991114764.UG.FTS.B,

29.49%,

11/11/24

..

476

491

991115785.UG.FTS.B,

29.49%,

11/11/24

..

1,699

1,755

991116157.UG.FTS.B,

29.49%,

11/11/24

..

140

31

991119988.UG.FTS.B,

29.49%,

11/11/24

..

119

123

991120196.UG.FTS.B,

29.49%,

11/11/24

..

159

164

991120336.UG.FTS.B,

29.49%,

11/11/24

..

425

439

991121030.UG.FTS.B,

29.49%,

11/11/24

..

340

351

991121979.UG.FTS.B,

29.49%,

11/11/24

..

53

54

991123639.UG.FTS.B,

29.49%,

11/11/24

..

107

110

991125459.UG.FTS.B,

29.49%,

11/11/24

..

27

11

991126167.UG.FTS.B,

29.49%,

11/11/24

..

5

5

991126785.UG.FTS.B,

29.49%,

11/11/24

..

170

176

991128140.UG.FTS.B,

29.49%,

11/11/24

..

170

175

991129046.UG.FTS.B,

29.49%,

11/11/24

..

386

399

991130897.UG.FTS.B,

29.49%,

11/11/24

..

184

188

991133170.UG.FTS.B,

29.49%,

11/11/24

..

65

9

991134268.UG.FTS.B,

29.49%,

11/11/24

..

289

298

991135021.UG.FTS.B,

29.49%,

11/11/24

..

950

582

991137879.UG.FTS.B,

29.49%,

11/11/24

..

24

24

991138007.UG.FTS.B,

29.49%,

11/11/24

..

452

464

991141828.UG.FTS.B,

29.49%,

11/11/24

..

59

60

991142248.UG.FTS.B,

29.49%,

11/11/24

..

127

131

991142891.UG.FTS.B,

29.49%,

11/11/24

..

42

42

991144586.UG.FTS.B,

29.49%,

11/11/24

..

37

36

991145669.UG.FTS.B,

29.49%,

11/11/24

..

277

36

991147262.UG.FTS.B,

29.49%,

11/11/24

..

249

257

991147507.UG.FTS.B,

29.49%,

11/11/24

..

323

328

991148254.UG.FTS.B,

29.49%,

11/11/24

..

424

438

991148623.UG.FTS.B,

29.49%,

11/11/24

..

364

24

991149265.UG.FTS.B,

29.49%,

11/11/24

..

464

(21)

991149421.UG.FTS.B,

29.49%,

11/11/24

..

83

(4)

991150582.UG.FTS.B,

29.49%,

11/11/24

..

109

7

991152299.UG.FTS.B,

29.49%,

11/11/24

..

219

221

991153967.UG.FTS.B,

29.49%,

11/11/24

..

43

6

991154718.UG.FTS.B,

29.49%,

11/11/24

..

2,543

2,626

991158419.UG.FTS.B,

29.49%,

11/11/24

..

0

0

991159519.UG.FTS.B,

29.49%,

11/11/24

..

98

68

991160825.UG.FTS.B,

29.49%,

11/11/24

..

93

95

991161751.UG.FTS.B,

29.49%,

11/11/24

..

212

218

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

294

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991162321.UG.FTS.B,

29.49%,

11/11/24

..

$

216

$

221

991162698.UG.FTS.B,

29.49%,

11/11/24

..

33

33

991163430.UG.FTS.B,

29.49%,

11/11/24

..

276

279

991166506.UG.FTS.B,

29.49%,

11/11/24

..

312

315

991167054.UG.FTS.B,

29.49%,

11/11/24

..

232

238

991169498.UG.FTS.B,

29.49%,

11/11/24

..

47

47

991169853.UG.FTS.B,

29.49%,

11/11/24

..

170

174

991169967.UG.FTS.B,

29.49%,

11/11/24

..

463

(20)

991175105.UG.FTS.B,

29.49%,

11/11/24

..

75

76

991175348.UG.FTS.B,

29.49%,

11/11/24

..

39

39

991176071.UG.FTS.B,

29.49%,

11/11/24

..

255

258

991176536.UG.FTS.B,

29.49%,

11/11/24

..

17

17

991180861.UG.FTS.B,

29.49%,

11/11/24

..

451

455

991182431.UG.FTS.B,

29.49%,

11/11/24

..

366

372

991183458.UG.FTS.B,

29.49%,

11/11/24

..

85

6

991187295.UG.FTS.B,

29.49%,

11/11/24

..

204

207

991191286.UG.FTS.B,

29.49%,

11/11/24

..

149

150

991191767.UG.FTS.B,

29.49%,

11/11/24

..

73

(3)

991192289.UG.FTS.B,

29.49%,

11/11/24

..

288

288

991194318.UG.FTS.B,

29.49%,

11/11/24

..

19

19

991196160.UG.FTS.B,

29.49%,

11/11/24

..

57

(2)

991197268.UG.FTS.B,

29.49%,

11/11/24

..

84

63

991197313.UG.FTS.B,

29.49%,

11/11/24

..

211

214

991197901.UG.FTS.B,

29.49%,

11/11/24

..

262

58

991202370.UG.FTS.B,

29.49%,

11/11/24

.

34

34

991204233.UG.FTS.B,

29.49%,

11/11/24

.

55

56

991206481.UG.FTS.B,

29.49%,

11/11/24

.

34

34

991213839.UG.FTS.B,

29.49%,

11/11/24

.

141

143

991214645.UG.FTS.B,

29.49%,

11/11/24

.

337

342

991216724.UG.FTS.B,

29.49%,

11/11/24

.

2,017

2,048

991217280.UG.FTS.B,

29.49%,

11/11/24

.

842

854

991109541.UG.FTS.B,

Zero

Cpn,

11/12/24

300

–

991138125.UG.FTS.B,

Zero

Cpn,

11/12/24

181

–

991197952.UG.FTS.B,

Zero

Cpn,

11/12/24

343

–

991042459.UG.FTS.B,

14%,

11/12/24

....

8,166

8,069

991036968.UG.FTS.B,

14.97%,

11/12/24

.

4,265

4,218

991036334.UG.FTS.B,

14.98%,

11/12/24

.

161

159

991043719.UG.FTS.B,

14.98%,

11/12/24

.

793

783

991181534.UG.FTS.B,

14.98%,

11/12/24

.

895

880

991033578.UG.FTS.B,

15%,

11/12/24

....

3,638

3,576

991036209.UG.FTS.B,

15%,

11/12/24

....

5,785

5,716

991041203.UG.FTS.B,

15%,

11/12/24

....

1,388

1,370

991031884.UG.FTS.B,

15.97%,

11/12/24

.

348

344

991035315.UG.FTS.B,

15.97%,

11/12/24

.

1,731

1,711

991038882.UG.FTS.B,

15.97%,

11/12/24

.

79

78

991046765.UG.FTS.B,

15.97%,

11/12/24

.

159

18

991049725.UG.FTS.B,

15.97%,

11/12/24

.

609

602

991060717.UG.FTS.B,

15.97%,

11/12/24

.

250

247

991120791.UG.FTS.B,

15.97%,

11/12/24

.

1,755

195

991038725.UG.FTS.B,

15.99%,

11/12/24

.

416

411

991040151.UG.FTS.B,

15.99%,

11/12/24

.

1,988

1,967

991042437.UG.FTS.B,

15.99%,

11/12/24

.

4,116

4,068

991130973.UG.FTS.B,

15.99%,

11/12/24

.

4,536

4,482

991035103.UG.FTS.B,

16.99%,

11/12/24

.

1,654

1,634

991037894.UG.FTS.B,

16.99%,

11/12/24

.

400

395

991044831.UG.FTS.B,

16.99%,

11/12/24

.

1,653

115

991046838.UG.FTS.B,

16.99%,

11/12/24

.

355

351

991050028.UG.FTS.B,

16.99%,

11/12/24

.

326

322

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991214646.UG.FTS.B,

16.99%,

11/12/24

.

$

1,225

$

1,205

991042011.UG.FTS.B,

17.21%,

11/12/24

.

3,681

3,629

991039148.UG.FTS.B,

17.97%,

11/12/24

.

9,012

8,891

991039661.UG.FTS.B,

17.97%,

11/12/24

.

266

264

991041313.UG.FTS.B,

17.97%,

11/12/24

.

6,041

5,960

991034794.UG.FTS.B,

17.99%,

11/12/24

.

1,079

1,065

991038234.UG.FTS.B,

17.99%,

11/12/24

.

164

161

991040629.UG.FTS.B,

17.99%,

11/12/24

.

1,060

1,046

991042430.UG.FTS.B,

17.99%,

11/12/24

.

2,917

2,880

991048993.UG.FTS.B,

17.99%,

11/12/24

.

248

245

991073587.UG.FTS.B,

17.99%,

11/12/24

.

1,800

124

991089727.UG.FTS.B,

17.99%,

11/12/24

.

6,987

6,899

991217835.UG.FTS.B,

17.99%,

11/12/24

.

819

804

991221489.UG.FTS.B,

17.99%,

11/12/24

.

0

0

991038677.UG.FTS.B,

18.21%,

11/12/24

.

6,005

5,920

991167075.UG.FTS.B,

18.21%,

11/12/24

.

2,056

2,027

991033351.UG.FTS.B,

18.97%,

11/12/24

.

58

57

991034560.UG.FTS.B,

18.97%,

11/12/24

.

250

246

991036429.UG.FTS.B,

18.97%,

11/12/24

.

550

542

991038296.UG.FTS.B,

18.97%,

11/12/24

.

272

269

991043248.UG.FTS.B,

18.97%,

11/12/24

.

183

181

991043614.UG.FTS.B,

18.97%,

11/12/24

.

802

791

991046047.UG.FTS.B,

18.97%,

11/12/24

.

388

383

991092561.UG.FTS.B,

18.97%,

11/12/24

.

35

0

991109302.UG.FTS.B,

18.97%,

11/12/24

.

679

47

991109619.UG.FTS.B,

18.97%,

11/12/24

.

268

265

991135510.UG.FTS.B,

18.97%,

11/12/24

.

496

489

991149515.UG.FTS.B,

18.97%,

11/12/24

.

756

745

991166787.UG.FTS.B,

18.97%,

11/12/24

.

3,239

3,195

991225648.UG.FTS.B,

18.97%,

11/12/24

.

11

11

991229420.UG.FTS.B,

18.97%,

11/12/24

.

529

519

991039912.UG.FTS.B,

19.21%,

11/12/24

.

265

262

991043544.UG.FTS.B,

19.21%,

11/12/24

.

93

91

991055316.UG.FTS.B,

19.21%,

11/12/24

.

3,266

3,218

991055412.UG.FTS.B,

19.21%,

11/12/24

.

2,571

2,535

991055900.UG.FTS.B,

19.21%,

11/12/24

.

38

38

991077162.UG.FTS.B,

19.21%,

11/12/24

.

843

830

991089256.UG.FTS.B,

19.21%,

11/12/24

.

54

53

991103842.UG.FTS.B,

19.21%,

11/12/24

.

121

119

991120756.UG.FTS.B,

19.21%,

11/12/24

.

4,138

4,079

991148374.UG.FTS.B,

19.21%,

11/12/24

.

271

267

991124710.UG.FTS.B,

19.46%,

11/12/24

.

1,406

1,046

991033573.UG.FTS.B,

19.8%,

11/12/24

..

1,333

1,312

991037811.UG.FTS.B,

19.8%,

11/12/24

..

845

832

991039753.UG.FTS.B,

19.8%,

11/12/24

..

803

791

991040746.UG.FTS.B,

19.8%,

11/12/24

..

214

210

991046959.UG.FTS.B,

19.8%,

11/12/24

..

3,602

249

991049073.UG.FTS.B,

19.8%,

11/12/24

..

4,002

302

991052169.UG.FTS.B,

19.8%,

11/12/24

..

616

71

991073360.UG.FTS.B,

19.8%,

11/12/24

..

237

235

991092557.UG.FTS.B,

19.8%,

11/12/24

..

98

11

991170125.UG.FTS.B,

19.8%,

11/12/24

..

436

429

991176551.UG.FTS.B,

19.8%,

11/12/24

..

1,055

73

991196590.UG.FTS.B,

19.8%,

11/12/24

..

247

242

991217186.UG.FTS.B,

19.8%,

11/12/24

..

206

201

991032173.UG.FTS.B,

20.46%,

11/12/24

.

497

488

991037582.UG.FTS.B,

20.46%,

11/12/24

.

49

48

991040344.UG.FTS.B,

20.46%,

11/12/24

.

744

51

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

295

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991040953.UG.FTS.B,

20.46%,

11/12/24

.

$

1,082

$

1,064

991042127.UG.FTS.B,

20.46%,

11/12/24

.

1,648

1,622

991042317.UG.FTS.B,

20.46%,

11/12/24

.

2,655

304

991046754.UG.FTS.B,

20.46%,

11/12/24

.

3,130

3,076

991046812.UG.FTS.B,

20.46%,

11/12/24

.

189

186

991051761.UG.FTS.B,

20.46%,

11/12/24

.

275

32

991055134.UG.FTS.B,

20.46%,

11/12/24

.

83

82

991056645.UG.FTS.B,

20.46%,

11/12/24

.

–

–

991058413.UG.FTS.B,

20.46%,

11/12/24

.

854

841

991085590.UG.FTS.B,

20.46%,

11/12/24

.

845

831

991094480.UG.FTS.B,

20.46%,

11/12/24

.

333

328

991129109.UG.FTS.B,

20.46%,

11/12/24

.

436

429

991163006.UG.FTS.B,

20.46%,

11/12/24

.

403

394

991196098.UG.FTS.B,

20.46%,

11/12/24

.

227

222

991207462.UG.FTS.B,

20.46%,

11/12/24

.

32

31

991224739.UG.FTS.B,

20.46%,

11/12/24

.

207

202

991234666.UG.FTS.B,

20.46%,

11/12/24

.

102

100

991032939.UG.FTS.B,

20.97%,

11/12/24

.

1,519

1,492

991039115.UG.FTS.B,

20.97%,

11/12/24

.

1,708

1,667

991043019.UG.FTS.B,

20.97%,

11/12/24

.

63

62

991070100.UG.FTS.B,

20.97%,

11/12/24

.

142

140

991106317.UG.FTS.B,

20.97%,

11/12/24

.

538

529

991215378.UG.FTS.B,

20.97%,

11/12/24

.

825

805

991033130.UG.FTS.B,

21.46%,

11/12/24

.

932

912

991036161.UG.FTS.B,

21.46%,

11/12/24

.

4,558

4,472

991036670.UG.FTS.B,

21.46%,

11/12/24

.

2,145

2,105

991044475.UG.FTS.B,

21.46%,

11/12/24

.

526

516

991047526.UG.FTS.B,

21.46%,

11/12/24

.

755

741

991057765.UG.FTS.B,

21.46%,

11/12/24

.

183

179

991064757.UG.FTS.B,

21.46%,

11/12/24

.

241

236

991072361.UG.FTS.B,

21.46%,

11/12/24

.

633

620

991072869.UG.FTS.B,

21.46%,

11/12/24

.

234

229

991081326.UG.FTS.B,

21.46%,

11/12/24

.

0

0

991086819.UG.FTS.B,

21.46%,

11/12/24

.

1,126

1,105

991096421.UG.FTS.B,

21.46%,

11/12/24

.

114

112

991100384.UG.FTS.B,

21.46%,

11/12/24

.

42

41

991106833.UG.FTS.B,

21.46%,

11/12/24

.

669

651

991128100.UG.FTS.B,

21.46%,

11/12/24

.

829

813

991130390.UG.FTS.B,

21.46%,

11/12/24

.

482

470

991130691.UG.FTS.B,

21.46%,

11/12/24

.

32

32

991144579.UG.FTS.B,

21.46%,

11/12/24

.

257

250

991149555.UG.FTS.B,

21.46%,

11/12/24

.

831

815

991154332.UG.FTS.B,

21.46%,

11/12/24

.

2,539

2,469

991167965.UG.FTS.B,

21.46%,

11/12/24

.

1,658

1,627

991226484.UG.FTS.B,

21.46%,

11/12/24

.

764

744

991042536.UG.FTS.B,

21.97%,

11/12/24

.

1,343

1,317

991043384.UG.FTS.B,

21.97%,

11/12/24

.

1,564

1,520

991130405.UG.FTS.B,

21.97%,

11/12/24

.

450

292

991197035.UG.FTS.B,

21.97%,

11/12/24

.

146

94

991033295.UG.FTS.B,

21.98%,

11/12/24

.

45

44

991036128.UG.FTS.B,

21.98%,

11/12/24

.

85

83

991046804.UG.FTS.B,

21.98%,

11/12/24

.

1,400

1,372

991057179.UG.FTS.B,

21.98%,

11/12/24

.

181

40

991120265.UG.FTS.B,

21.98%,

11/12/24

.

2,920

2,861

991121938.UG.FTS.B,

21.98%,

11/12/24

.

461

451

991131569.UG.FTS.B,

21.98%,

11/12/24

.

387

380

991152315.UG.FTS.B,

21.98%,

11/12/24

.

370

363

991214217.UG.FTS.B,

21.98%,

11/12/24

.

–

–

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991217398.UG.FTS.B,

21.98%,

11/12/24

.

$

414

$

402

991224208.UG.FTS.B,

21.98%,

11/12/24

.

281

273

991039683.UG.FTS.B,

22.95%,

11/12/24

.

181

177

991067098.UG.FTS.B,

22.95%,

11/12/24

.

556

538

991177370.UG.FTS.B,

22.95%,

11/12/24

.

330

65

991032017.UG.FTS.B,

22.97%,

11/12/24

.

543

531

991039746.UG.FTS.B,

22.97%,

11/12/24

.

577

564

991048419.UG.FTS.B,

22.97%,

11/12/24

.

482

97

991222051.UG.FTS.B,

22.97%,

11/12/24

.

256

248

991033516.UG.FTS.B,

23.95%,

11/12/24

.

2,212

2,161

991041173.UG.FTS.B,

23.95%,

11/12/24

.

4,682

960

991041688.UG.FTS.B,

23.95%,

11/12/24

.

5,583

(128)

991072416.UG.FTS.B,

23.95%,

11/12/24

.

1,680

1,628

991083227.UG.FTS.B,

23.95%,

11/12/24

.

169

166

991085164.UG.FTS.B,

23.95%,

11/12/24

.

56

55

991119161.UG.FTS.B,

23.95%,

11/12/24

..

2,097

2,051

991169536.UG.FTS.B,

23.95%,

11/12/24

.

55

55

991234267.UG.FTS.B,

23.95%,

11/12/24

.

366

354

991235754.UG.FTS.B,

23.95%,

11/12/24

.

867

840

991093471.UG.FTS.B,

24.95%,

11/12/24

.

505

493

991101210.UG.FTS.B,

25.94%,

11/12/24

.

82

81

991103112.UG.FTS.B,

25.95%,

11/12/24

..

605

590

991149520.UG.FTS.B,

25.95%,

11/12/24

.

841

821

991183694.UG.FTS.B,

25.95%,

11/12/24

.

167

161

991229578.UG.FTS.B,

25.95%,

11/12/24

.

227

16

991037516.UG.FTS.B,

26.94%,

11/12/24

.

396

387

991039659.UG.FTS.B,

26.94%,

11/12/24

.

247

241

991043735.UG.FTS.B,

26.94%,

11/12/24

.

200

196

991059570.UG.FTS.B,

26.94%,

11/12/24

.

281

61

991062395.UG.FTS.B,

26.94%,

11/12/24

.

34

12

991065985.UG.FTS.B,

26.94%,

11/12/24

.

1,020

218

991191565.UG.FTS.B,

26.94%,

11/12/24

.

46

(2)

991231580.UG.FTS.B,

26.94%,

11/12/24

.

303

(11)

991053177.UG.FTS.B,

Zero

Cpn,

11/13/24

68

–

991053832.UG.FTS.B,

Zero

Cpn,

11/13/24

188

–

991064250.UG.FTS.B,

Zero

Cpn,

11/13/24

282

19

991197040.UG.FTS.B,

Zero

Cpn,

11/13/24

200

–

991043576.UG.FTS.B,

18.97%,

11/13/24

.

18

8

991046819.UG.FTS.B,

18.97%,

11/13/24

.

439

30

991054425.UG.FTS.B,

18.97%,

11/13/24

.

338

333

991061940.UG.FTS.B,

18.97%,

11/13/24

.

1,412

264

991092009.UG.FTS.B,

18.97%,

11/13/24

.

1,431

1,410

991096631.UG.FTS.B,

18.97%,

11/13/24

.

545

538

991108318.UG.FTS.B,

18.97%,

11/13/24

.

371

366

991119492.UG.FTS.B,

18.97%,

11/13/24

..

2,068

2,041

991141427.UG.FTS.B,

18.97%,

11/13/24

.

496

489

991174393.UG.FTS.B,

18.97%,

11/13/24

.

11

6

991225078.UG.FTS.B,

18.97%,

11/13/24

.

451

442

991231945.UG.FTS.B,

18.97%,

11/13/24

.

1,776

1,743

991043828.UG.FTS.B,

19.21%,

11/13/24

.

138

136

991053667.UG.FTS.B,

19.21%,

11/13/24

.

1,635

1,613

991053798.UG.FTS.B,

19.21%,

11/13/24

.

2,058

2,032

991056910.UG.FTS.B,

19.21%,

11/13/24

.

2,715

1,695

991058990.UG.FTS.B,

19.21%,

11/13/24

.

464

458

991062676.UG.FTS.B,

19.21%,

11/13/24

.

473

54

991128162.UG.FTS.B,

19.21%,

11/13/24

.

207

204

991144799.UG.FTS.B,

19.21%,

11/13/24

.

136

136

991148972.UG.FTS.B,

19.21%,

11/13/24

.

218

25

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

296

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991158111.UG.FTS.B,

19.21%,

11/13/24

..

$

4,745

$

4,648

991042876.UG.FTS.B,

19.8%,

11/13/24

..

68

68

991044384.UG.FTS.B,

19.8%,

11/13/24

..

633

624

991045601.UG.FTS.B,

19.8%,

11/13/24

..

28

28

991051776.UG.FTS.B,

19.8%,

11/13/24

..

523

516

991053883.UG.FTS.B,

19.8%,

11/13/24

..

116

114

991054142.UG.FTS.B,

19.8%,

11/13/24

..

104

69

991069804.UG.FTS.B,

19.8%,

11/13/24

..

–

–

991070292.UG.FTS.B,

19.8%,

11/13/24

..

797

784

991074550.UG.FTS.B,

19.8%,

11/13/24

..

947

926

991088998.UG.FTS.B,

19.8%,

11/13/24

..

491

36

991127344.UG.FTS.B,

19.8%,

11/13/24

..

12,366

12,177

991135137.UG.FTS.B,

19.8%,

11/13/24

..

1,143

1,118

991139982.UG.FTS.B,

19.8%,

11/13/24

..

184

182

991182015.UG.FTS.B,

19.8%,

11/13/24

..

108

106

991207669.UG.FTS.B,

19.8%,

11/13/24

..

126

123

991239015.UG.FTS.B,

19.8%,

11/13/24

..

411

402

991039412.UG.FTS.B,

20.46%,

11/13/24

.

604

594

991058306.UG.FTS.B,

20.46%,

11/13/24

.

641

631

991096499.UG.FTS.B,

20.46%,

11/13/24

.

421

411

991142128.UG.FTS.B,

20.46%,

11/13/24

.

1,802

1,770

991160383.UG.FTS.B,

20.46%,

11/13/24

.

35

34

991223894.UG.FTS.B,

20.46%,

11/13/24

.

61

60

991225804.UG.FTS.B,

20.46%,

11/13/24

.

319

22

991058334.UG.FTS.B,

20.97%,

11/13/24

.

13

13

991118761.UG.FTS.B,

20.97%,

11/13/24

..

337

331

991165286.UG.FTS.B,

20.97%,

11/13/24

.

57

56

991179016.UG.FTS.B,

20.97%,

11/13/24

.

104

102

991039886.UG.FTS.B,

21.46%,

11/13/24

.

212

209

991042608.UG.FTS.B,

21.46%,

11/13/24

.

711

694

991045113.UG.FTS.B,

21.46%,

11/13/24

.

49

48

991053506.UG.FTS.B,

21.46%,

11/13/24

.

62

61

991054273.UG.FTS.B,

21.46%,

11/13/24

.

556

546

991058137.UG.FTS.B,

21.46%,

11/13/24

.

73

71

991058936.UG.FTS.B,

21.46%,

11/13/24

.

105

104

991062160.UG.FTS.B,

21.46%,

11/13/24

.

85

20

991063989.UG.FTS.B,

21.46%,

11/13/24

.

67

66

991076067.UG.FTS.B,

21.46%,

11/13/24

.

34

33

991089124.UG.FTS.B,

21.46%,

11/13/24

.

1,183

1,161

991094103.UG.FTS.B,

21.46%,

11/13/24

.

835

820

991107097.UG.FTS.B,

21.46%,

11/13/24

.

18

18

991121821.UG.FTS.B,

21.46%,

11/13/24

.

829

57

991191064.UG.FTS.B,

21.46%,

11/13/24

.

85

84

991214954.UG.FTS.B,

21.46%,

11/13/24

.

413

402

991232634.UG.FTS.B,

21.46%,

11/13/24

.

–

–

991240778.UG.FTS.B,

21.46%,

11/13/24

.

254

51

991050955.UG.FTS.B,

21.96%,

11/13/24

.

926

64

991122796.UG.FTS.B,

21.97%,

11/13/24

.

127

125

991205505.UG.FTS.B,

21.97%,

11/13/24

.

177

21

991040726.UG.FTS.B,

21.98%,

11/13/24

.

405

398

991041732.UG.FTS.B,

21.98%,

11/13/24

.

616

72

991043243.UG.FTS.B,

21.98%,

11/13/24

.

137

135

991056105.UG.FTS.B,

21.98%,

11/13/24

.

–

–

991064810.UG.FTS.B,

21.98%,

11/13/24

.

35

35

991065190.UG.FTS.B,

21.98%,

11/13/24

.

83

82

991065324.UG.FTS.B,

21.98%,

11/13/24

.

903

106

991065943.UG.FTS.B,

21.98%,

11/13/24

.

230

16

991078122.UG.FTS.B,

21.98%,

11/13/24

.

2,666

2,594

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991109227.UG.FTS.B,

21.98%,

11/13/24

.

$

58

$

57

991221586.UG.FTS.B,

21.98%,

11/13/24

.

158

153

991232762.UG.FTS.B,

21.98%,

11/13/24

.

350

220

991038891.UG.FTS.B,

22.97%,

11/13/24

.

352

226

991045128.UG.FTS.B,

22.97%,

11/13/24

.

69

68

991049262.UG.FTS.B,

22.97%,

11/13/24

.

418

51

991067940.UG.FTS.B,

22.97%,

11/13/24

.

3

3

991073136.UG.FTS.B,

22.97%,

11/13/24

.

1,323

1,297

991081670.UG.FTS.B,

22.97%,

11/13/24

.

451

442

991084697.UG.FTS.B,

22.97%,

11/13/24

.

1,501

1,459

991139845.UG.FTS.B,

22.97%,

11/13/24

.

147

144

991147839.UG.FTS.B,

22.97%,

11/13/24

.

800

784

991194552.UG.FTS.B,

22.97%,

11/13/24

.

285

182

991195127.UG.FTS.B,

22.97%,

11/13/24

.

541

66

991241632.UG.FTS.B,

22.97%,

11/13/24

.

170

165

991062207.UG.FTS.B,

23.95%,

11/13/24

.

496

485

991062210.UG.FTS.B,

23.95%,

11/13/24

.

134

132

991142914.UG.FTS.B,

23.95%,

11/13/24

.

4,693

4,582

991197167.UG.FTS.B,

23.95%,

11/13/24

.

166

161

991196696.UG.FTS.B,

24.95%,

11/13/24

.

444

90

991060635.UG.FTS.B,

25.94%,

11/13/24

.

974

954

991132010.UG.FTS.B,

25.94%,

11/13/24

.

166

11

991231048.UG.FTS.B,

25.94%,

11/13/24

.

37

36

991039523.UG.FTS.B,

25.95%,

11/13/24

.

39

13

991068722.UG.FTS.B,

25.95%,

11/13/24

.

118

8

991120433.UG.FTS.B,

25.95%,

11/13/24

.

844

824

991176572.UG.FTS.B,

25.95%,

11/13/24

.

838

819

991225380.UG.FTS.B,

26.94%,

11/13/24

.

150

10

991047457.UG.FTS.B,

Zero

Cpn,

11/14/24

566

–

991050342.UG.FTS.B,

Zero

Cpn,

11/14/24

657

–

991072015.UG.FTS.B,

Zero

Cpn,

11/14/24

4,000

–

991087332.UG.FTS.B,

Zero

Cpn,

11/14/24

98

–

991099836.UG.FTS.B,

Zero

Cpn,

11/14/24

37

–

991125660.UG.FTS.B,

Zero

Cpn,

11/14/24

210

–

991127404.UG.FTS.B,

Zero

Cpn,

11/14/24

492

–

991057323.UG.FTS.B,

18.8%,

11/14/24

..

371

366

991165927.UG.FTS.B,

18.8%,

11/14/24

..

109

108

991047941.UG.FTS.B,

18.97%,

11/14/24

.

407

402

991060835.UG.FTS.B,

18.97%,

11/14/24

.

371

366

991064005.UG.FTS.B,

18.97%,

11/14/24

.

1,071

1,055

991081186.UG.FTS.B,

18.97%,

11/14/24

.

2,230

2,200

991135967.UG.FTS.B,

18.97%,

11/14/24

.

1,083

1,068

991147340.UG.FTS.B,

18.97%,

11/14/24

.

1,450

1,429

991160650.UG.FTS.B,

18.97%,

11/14/24

.

378

372

991231578.UG.FTS.B,

18.97%,

11/14/24

.

4,105

4,027

991052420.UG.FTS.B,

19.21%,

11/14/24

.

429

424

991058880.UG.FTS.B,

19.21%,

11/14/24

.

221

218

991065337.UG.FTS.B,

19.21%,

11/14/24

.

106

105

991076720.UG.FTS.B,

19.21%,

11/14/24

.

110

108

991091272.UG.FTS.B,

19.21%,

11/14/24

.

28

28

991115058.UG.FTS.B,

19.21%,

11/14/24

..

194

191

991230067.UG.FTS.B,

19.21%,

11/14/24

.

253

248

991071687.UG.FTS.B,

19.8%,

11/14/24

..

397

46

991078906.UG.FTS.B,

19.8%,

11/14/24

..

991

976

991186061.UG.FTS.B,

19.8%,

11/14/24

..

435

428

991192208.UG.FTS.B,

19.8%,

11/14/24

..

273

267

991208751.UG.FTS.B,

19.8%,

11/14/24

..

147

144

991212892.UG.FTS.B,

19.8%,

11/14/24

..

73

72

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

297

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991232617.UG.FTS.B,

19.8%,

11/14/24

..

$

658

$

644

991234974.UG.FTS.B,

19.8%,

11/14/24

..

23

9

991247002.UG.FTS.B,

19.8%,

11/14/24

..

434

50

991049168.UG.FTS.B,

20.46%,

11/14/24

.

1,854

(15)

991051184.UG.FTS.B,

20.46%,

11/14/24

.

483

475

991053580.UG.FTS.B,

20.46%,

11/14/24

.

22

22

991057520.UG.FTS.B,

20.46%,

11/14/24

.

86

85

991059252.UG.FTS.B,

20.46%,

11/14/24

.

121

119

991062889.UG.FTS.B,

20.46%,

11/14/24

.

280

276

991063637.UG.FTS.B,

20.46%,

11/14/24

.

4,410

504

991067392.UG.FTS.B,

20.46%,

11/14/24

.

77

76

991086877.UG.FTS.B,

20.46%,

11/14/24

.

3,608

250

991118054.UG.FTS.B,

20.46%,

11/14/24

..

12

12

991137776.UG.FTS.B,

20.46%,

11/14/24

.

888

874

991147993.UG.FTS.B,

20.46%,

11/14/24

.

442

435

991176027.UG.FTS.B,

20.46%,

11/14/24

.

122

120

991177227.UG.FTS.B,

20.46%,

11/14/24

.

166

163

991194498.UG.FTS.B,

20.46%,

11/14/24

.

83

82

991047047.UG.FTS.B,

20.97%,

11/14/24

.

1,320

269

991052299.UG.FTS.B,

20.97%,

11/14/24

.

744

733

991060869.UG.FTS.B,

20.97%,

11/14/24

.

34

34

991064036.UG.FTS.B,

20.97%,

11/14/24

.

844

828

991068021.UG.FTS.B,

20.97%,

11/14/24

.

121

119

991075171.UG.FTS.B,

20.97%,

11/14/24

.

1,915

1,880

991092907.UG.FTS.B,

20.97%,

11/14/24

.

166

11

991133151.UG.FTS.B,

20.97%,

11/14/24

.

805

786

991178036.UG.FTS.B,

20.97%,

11/14/24

.

4,447

4,342

991184846.UG.FTS.B,

20.97%,

11/14/24

.

331

326

991232539.UG.FTS.B,

20.97%,

11/14/24

.

265

259

991161778.UG.FTS.B,

20.98%,

11/14/24

.

631

619

991047942.UG.FTS.B,

21.46%,

11/14/24

.

312

307

991047989.UG.FTS.B,

21.46%,

11/14/24

.

25

25

991050172.UG.FTS.B,

21.46%,

11/14/24

.

18

18

991053215.UG.FTS.B,

21.46%,

11/14/24

.

344

338

991055566.UG.FTS.B,

21.46%,

11/14/24

.

2,933

2,879

991061034.UG.FTS.B,

21.46%,

11/14/24

.

545

535

991068618.UG.FTS.B,

21.46%,

11/14/24

.

551

540

991073045.UG.FTS.B,

21.46%,

11/14/24

.

1,389

97

991119349.UG.FTS.B,

21.46%,

11/14/24

..

1,000

981

991133215.UG.FTS.B,

21.46%,

11/14/24

.

93

91

991134077.UG.FTS.B,

21.46%,

11/14/24

.

750

736

991166904.UG.FTS.B,

21.46%,

11/14/24

.

272

267

991184898.UG.FTS.B,

21.46%,

11/14/24

.

1,588

1,545

991246975.UG.FTS.B,

21.46%,

11/14/24

.

2,709

2,637

991049974.UG.FTS.B,

21.98%,

11/14/24

.

537

528

991072780.UG.FTS.B,

21.98%,

11/14/24

.

347

343

991084216.UG.FTS.B,

21.98%,

11/14/24

.

985

958

991143542.UG.FTS.B,

21.98%,

11/14/24

.

560

549

991247140.UG.FTS.B,

21.98%,

11/14/24

.

162

158

991228703.UG.FTS.B,

22.95%,

11/14/24

.

79

77

991060601.UG.FTS.B,

22.97%,

11/14/24

.

342

332

991060686.UG.FTS.B,

22.97%,

11/14/24

.

4

4

991061478.UG.FTS.B,

22.97%,

11/14/24

.

1,014

121

991082443.UG.FTS.B,

22.97%,

11/14/24

.

182

22

991091615.UG.FTS.B,

22.97%,

11/14/24

.

681

667

991100853.UG.FTS.B,

22.97%,

11/14/24

.

110

107

991108731.UG.FTS.B,

22.97%,

11/14/24

.

1,024

123

991163751.UG.FTS.B,

22.97%,

11/14/24

.

258

253

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991174074.UG.FTS.B,

22.97%,

11/14/24

.

$

253

$

0

991184091.UG.FTS.B,

22.97%,

11/14/24

.

416

408

991224639.UG.FTS.B,

22.97%,

11/14/24

.

353

343

991082370.UG.FTS.B,

23.95%,

11/14/24

.

8

8

991104491.UG.FTS.B,

23.95%,

11/14/24

.

162

33

991112977.UG.FTS.B,

23.95%,

11/14/24

..

154

33

991209618.UG.FTS.B,

23.95%,

11/14/24

.

299

290

991197608.UG.FTS.B,

24.95%,

11/14/24

.

668

646

991051831.UG.FTS.B,

25.95%,

11/14/24

.

835

816

991059615.UG.FTS.B,

25.95%,

11/14/24

.

114

111

991063011.UG.FTS.B,

25.95%,

11/14/24

.

53

16

991103828.UG.FTS.B,

25.95%,

11/14/24

.

556

543

991068096.UG.FTS.B,

26.94%,

11/14/24

.

705

687

991073730.UG.FTS.B,

26.94%,

11/14/24

.

387

377

991090855.UG.FTS.B,

26.94%,

11/14/24

.

1,805

124

991059260.UG.FTS.B,

Zero

Cpn,

11/15/24

1,744

–

991136276.UG.FTS.B,

Zero

Cpn,

11/15/24

1,533

–

991175041.UG.FTS.B,

18.8%,

11/15/24

..

119

118

991053331.UG.FTS.B,

18.97%,

11/15/24

.

897

886

991062678.UG.FTS.B,

18.97%,

11/15/24

.

487

480

991146941.UG.FTS.B,

18.97%,

11/15/24

.

166

164

991163525.UG.FTS.B,

18.97%,

11/15/24

.

252

248

991183506.UG.FTS.B,

18.97%,

11/15/24

.

329

325

991215026.UG.FTS.B,

18.97%,

11/15/24

.

822

807

991226714.UG.FTS.B,

18.97%,

11/15/24

.

1,068

1,048

991055595.UG.FTS.B,

19.21%,

11/15/24

.

722

51

991057044.UG.FTS.B,

19.21%,

11/15/24

.

216

213

991058791.UG.FTS.B,

19.21%,

11/15/24

.

178

175

991062012.UG.FTS.B,

19.21%,

11/15/24

.

193

190

991064709.UG.FTS.B,

19.21%,

11/15/24

.

99

97

991072734.UG.FTS.B,

19.21%,

11/15/24

.

2,069

2,040

991083160.UG.FTS.B,

19.21%,

11/15/24

.

86

85

991099222.UG.FTS.B,

19.21%,

11/15/24

.

9

9

991116196.UG.FTS.B,

19.21%,

11/15/24

..

1,012

998

991118519.UG.FTS.B,

19.21%,

11/15/24

..

867

853

991148899.UG.FTS.B,

19.21%,

11/15/24

.

164

162

991159422.UG.FTS.B,

19.21%,

11/15/24

.

145

143

991186388.UG.FTS.B,

19.21%,

11/15/24

.

75

74

991214523.UG.FTS.B,

19.21%,

11/15/24

.

3,291

3,225

991232676.UG.FTS.B,

19.21%,

11/15/24

.

1,644

1,611

991069121.UG.FTS.B,

19.46%,

11/15/24

.

732

719

991058435.UG.FTS.B,

19.8%,

11/15/24

..

681

671

991058615.UG.FTS.B,

19.8%,

11/15/24

..

7,578

870

991059968.UG.FTS.B,

19.8%,

11/15/24

..

564

554

991060645.UG.FTS.B,

19.8%,

11/15/24

..

370

364

991062788.UG.FTS.B,

19.8%,

11/15/24

..

939

924

991063837.UG.FTS.B,

19.8%,

11/15/24

..

250

246

991076197.UG.FTS.B,

19.8%,

11/15/24

..

23

23

991080455.UG.FTS.B,

19.8%,

11/15/24

..

167

164

991122945.UG.FTS.B,

19.8%,

11/15/24

..

532

523

991130059.UG.FTS.B,

19.8%,

11/15/24

..

135

133

991149037.UG.FTS.B,

19.8%,

11/15/24

..

139

0

991197433.UG.FTS.B,

19.8%,

11/15/24

..

6,996

6,889

991232884.UG.FTS.B,

19.8%,

11/15/24

..

228

223

991052998.UG.FTS.B,

20.46%,

11/15/24

.

593

583

991062692.UG.FTS.B,

20.46%,

11/15/24

.

479

471

991067501.UG.FTS.B,

20.46%,

11/15/24

.

222

219

991073026.UG.FTS.B,

20.46%,

11/15/24

.

2,923

2,877

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

298

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991074912.UG.FTS.B,

20.46%,

11/15/24

.

$

3,341

$

3,289

991075795.UG.FTS.B,

20.46%,

11/15/24

.

98

96

991121275.UG.FTS.B,

20.46%,

11/15/24

.

4,975

4,897

991142661.UG.FTS.B,

20.46%,

11/15/24

.

–

–

991170710.UG.FTS.B,

20.46%,

11/15/24

.

296

291

991225118.UG.FTS.B,

20.46%,

11/15/24

.

238

233

991060260.UG.FTS.B,

20.97%,

11/15/24

.

1,314

1,292

991064364.UG.FTS.B,

20.97%,

11/15/24

.

1,000

111

991071778.UG.FTS.B,

20.97%,

11/15/24

.

460

453

991124375.UG.FTS.B,

20.97%,

11/15/24

.

249

245

991137852.UG.FTS.B,

20.97%,

11/15/24

.

44

43

991185680.UG.FTS.B,

20.97%,

11/15/24

.

213

208

991075287.UG.FTS.B,

20.98%,

11/15/24

.

299

293

991052662.UG.FTS.B,

21.46%,

11/15/24

.

8

8

991058892.UG.FTS.B,

21.46%,

11/15/24

.

1,170

1,150

991059119.UG.FTS.B,

21.46%,

11/15/24

.

95

94

991059443.UG.FTS.B,

21.46%,

11/15/24

.

1,046

1,026

991061209.UG.FTS.B,

21.46%,

11/15/24

.

627

614

991067666.UG.FTS.B,

21.46%,

11/15/24

.

215

211

991067852.UG.FTS.B,

21.46%,

11/15/24

.

335

329

991081663.UG.FTS.B,

21.46%,

11/15/24

.

236

231

991082388.UG.FTS.B,

21.46%,

11/15/24

.

209

204

991084465.UG.FTS.B,

21.46%,

11/15/24

.

2,017

1,980

991085477.UG.FTS.B,

21.46%,

11/15/24

.

0

0

991092471.UG.FTS.B,

21.46%,

11/15/24

.

261

256

991093257.UG.FTS.B,

21.46%,

11/15/24

.

1,856

1,820

991099369.UG.FTS.B,

21.46%,

11/15/24

.

275

268

991103293.UG.FTS.B,

21.46%,

11/15/24

.

250

245

991104130.UG.FTS.B,

21.46%,

11/15/24

.

486

476

991106167.UG.FTS.B,

21.46%,

11/15/24

.

3

0

991117836.UG.FTS.B,

21.46%,

11/15/24

..

138

135

991121927.UG.FTS.B,

21.46%,

11/15/24

.

136

83

991149127.UG.FTS.B,

21.46%,

11/15/24

.

6,448

(73)

991153690.UG.FTS.B,

21.46%,

11/15/24

.

285

279

991160626.UG.FTS.B,

21.46%,

11/15/24

.

3,451

3,357

991170133.UG.FTS.B,

21.46%,

11/15/24

.

414

406

991177667.UG.FTS.B,

21.46%,

11/15/24

.

180

175

991196758.UG.FTS.B,

21.46%,

11/15/24

.

1,075

1,047

991197057.UG.FTS.B,

21.46%,

11/15/24

.

852

171

991198524.UG.FTS.B,

21.46%,

11/15/24

.

923

905

991218740.UG.FTS.B,

21.46%,

11/15/24

.

206

200

991232327.UG.FTS.B,

21.46%,

11/15/24

.

309

301

991148867.UG.FTS.B,

21.97%,

11/15/24

.

2,080

2,039

991069799.UG.FTS.B,

21.98%,

11/15/24

.

374

367

991074487.UG.FTS.B,

21.98%,

11/15/24

.

708

694

991082558.UG.FTS.B,

21.98%,

11/15/24

.

318

312

991088521.UG.FTS.B,

21.98%,

11/15/24

.

298

293

991100922.UG.FTS.B,

21.98%,

11/15/24

.

–

–

991102023.UG.FTS.B,

21.98%,

11/15/24

.

47

46

991113753.UG.FTS.B,

21.98%,

11/15/24

..

100

7

991115452.UG.FTS.B,

21.98%,

11/15/24

..

2,327

2,284

991119590.UG.FTS.B,

21.98%,

11/15/24

..

272

174

991119885.UG.FTS.B,

21.98%,

11/15/24

..

437

30

991122921.UG.FTS.B,

21.98%,

11/15/24

.

268

54

991125602.UG.FTS.B,

21.98%,

11/15/24

.

889

871

991137980.UG.FTS.B,

21.98%,

11/15/24

.

30

30

991148230.UG.FTS.B,

21.98%,

11/15/24

.

662

46

991180474.UG.FTS.B,

21.98%,

11/15/24

.

47

37

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991232706.UG.FTS.B,

21.98%,

11/15/24

.

$

87

$

61

991058655.UG.FTS.B,

22.95%,

11/15/24

.

719

149

991062926.UG.FTS.B,

22.97%,

11/15/24

.

331

324

991080075.UG.FTS.B,

22.97%,

11/15/24

.

210

14

991091234.UG.FTS.B,

22.97%,

11/15/24

.

1

1

991112513.UG.FTS.B,

22.97%,

11/15/24

..

517

507

991131599.UG.FTS.B,

22.97%,

11/15/24

.

93

63

991218382.UG.FTS.B,

22.97%,

11/15/24

.

249

242

991057135.UG.FTS.B,

23.95%,

11/15/24

.

24

24

991060616.UG.FTS.B,

23.95%,

11/15/24

.

949

617

991118927.UG.FTS.B,

23.95%,

11/15/24

..

318

311

991186467.UG.FTS.B,

23.95%,

11/15/24

.

1,549

1,514

991239064.UG.FTS.B,

23.95%,

11/15/24

.

582

564

991181316.UG.FTS.B,

25.94%,

11/15/24

.

7

7

991065765.UG.FTS.B,

25.95%,

11/15/24

.

66

9

991088038.UG.FTS.B,

25.95%,

11/15/24

.

90

87

991091733.UG.FTS.B,

25.95%,

11/15/24

.

534

(15)

991096705.UG.FTS.B,

25.95%,

11/15/24

.

357

(5)

991098989.UG.FTS.B,

25.95%,

11/15/24

.

40

39

991104861.UG.FTS.B,

25.95%,

11/15/24

.

92

90

991179072.UG.FTS.B,

25.95%,

11/15/24

.

101

98

991051794.UG.FTS.B,

26.94%,

11/15/24

.

405

396

991170459.UG.FTS.B,

26.94%,

11/15/24

.

1,096

136

991199097.UG.FTS.B,

26.94%,

11/15/24

.

481

465

991082286.UG.FTS.B,

Zero

Cpn,

11/16/24

3,622

–

991187363.UG.FTS.B,

18.97%,

11/16/24

.

237

233

991130301.UG.FTS.B,

19.8%,

11/16/24

..

289

285

991165568.UG.FTS.B,

19.8%,

11/16/24

..

217

212

991059475.UG.FTS.B,

19.99%,

11/16/24

.

–

–

991060668.UG.FTS.B,

19.99%,

11/16/24

.

163

108

991067149.UG.FTS.B,

19.99%,

11/16/24

.

139

138

991069716.UG.FTS.B,

19.99%,

11/16/24

.

605

600

991077083.UG.FTS.B,

19.99%,

11/16/24

.

164

165

991088947.UG.FTS.B,

19.99%,

11/16/24

.

519

520

991104748.UG.FTS.B,

19.99%,

11/16/24

.

503

505

991121485.UG.FTS.B,

19.99%,

11/16/24

.

243

240

991260609.UG.FTS.B,

19.99%,

11/16/24

.

279

281

991099968.UG.FTS.B,

20.46%,

11/16/24

.

758

747

991251494.UG.FTS.B,

20.46%,

11/16/24

.

130

128

991070212.UG.FTS.B,

20.97%,

11/16/24

.

418

412

991146739.UG.FTS.B,

20.97%,

11/16/24

.

744

735

991230512.UG.FTS.B,

20.97%,

11/16/24

.

242

17

991106630.UG.FTS.B,

21.98%,

11/16/24

.

831

816

991214390.UG.FTS.B,

21.98%,

11/16/24

.

196

14

991258611.UG.FTS.B,

21.98%,

11/16/24

.

2,553

2,489

991075585.UG.FTS.B,

22.97%,

11/16/24

.

467

458

991201913.UG.FTS.B,

22.97%,

11/16/24

.

436

424

991251176.UG.FTS.B,

22.97%,

11/16/24

.

1,188

1,156

991063435.UG.FTS.B,

23.95%,

11/16/24

.

958

(19)

991104018.UG.FTS.B,

23.95%,

11/16/24

.

208

204

991083700.UG.FTS.B,

25.94%,

11/16/24

.

900

881

991086833.UG.FTS.B,

26.94%,

11/16/24

.

1,360

1,331

991170074.UG.FTS.B,

26.94%,

11/16/24

.

195

190

991161732.UG.FTS.B,

27.99%,

11/16/24

.

153

95

991060227.UG.FTS.B,

28.98%,

11/16/24

.

1,912

1,888

991061800.UG.FTS.B,

28.98%,

11/16/24

.

135

133

991062202.UG.FTS.B,

28.98%,

11/16/24

.

121

15

991066294.UG.FTS.B,

28.98%,

11/16/24

.

233

150

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

299

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991068102.UG.FTS.B,

28.98%,

11/16/24

.

$

171

$

168

991071048.UG.FTS.B,

28.98%,

11/16/24

.

179

178

991076717.UG.FTS.B,

28.98%,

11/16/24

.

1,589

1,029

991078886.UG.FTS.B,

28.98%,

11/16/24

.

131

129

991093834.UG.FTS.B,

28.98%,

11/16/24

.

396

398

991100168.UG.FTS.B,

28.98%,

11/16/24

.

6

6

991107607.UG.FTS.B,

28.98%,

11/16/24

.

–

–

991107728.UG.FTS.B,

28.98%,

11/16/24

.

260

18

991109575.UG.FTS.B,

28.98%,

11/16/24

.

160

161

991109800.UG.FTS.B,

28.98%,

11/16/24

.

1,254

1,259

991111045.UG.FTS.B,

28.98%,

11/16/24

..

185

121

991112308.UG.FTS.B,

28.98%,

11/16/24

..

225

221

991112584.UG.FTS.B,

28.98%,

11/16/24

..

146

144

991116767.UG.FTS.B,

28.98%,

11/16/24

..

105

69

991119971.UG.FTS.B,

28.98%,

11/16/24

..

880

879

991130100.UG.FTS.B,

28.98%,

11/16/24

.

2,786

2,742

991132906.UG.FTS.B,

28.98%,

11/16/24

.

205

206

991139707.UG.FTS.B,

28.98%,

11/16/24

.

268

264

991183042.UG.FTS.B,

28.98%,

11/16/24

.

317

314

991250222.UG.FTS.B,

28.98%,

11/16/24

.

22

22

991258217.UG.FTS.B,

28.98%,

11/16/24

.

41

40

991261509.UG.FTS.B,

28.98%,

11/16/24

.

151

149

991059212.UG.FTS.B,

29.49%,

11/16/24

.

4

4

991059532.UG.FTS.B,

29.49%,

11/16/24

.

39

39

991060822.UG.FTS.B,

29.49%,

11/16/24

.

1,034

1,039

991061401.UG.FTS.B,

29.49%,

11/16/24

.

–

–

991061656.UG.FTS.B,

29.49%,

11/16/24

.

1,578

1,543

991061846.UG.FTS.B,

29.49%,

11/16/24

.

781

55

991061934.UG.FTS.B,

29.49%,

11/16/24

.

732

725

991062942.UG.FTS.B,

29.49%,

11/16/24

.

40

39

991064113.UG.FTS.B,

29.49%,

11/16/24

.

149

146

991064892.UG.FTS.B,

29.49%,

11/16/24

.

72

72

991069702.UG.FTS.B,

29.49%,

11/16/24

.

691

680

991081262.UG.FTS.B,

29.49%,

11/16/24

.

98

98

991088187.UG.FTS.B,

29.49%,

11/16/24

.

91

14

991101093.UG.FTS.B,

29.49%,

11/16/24

.

218

215

991102818.UG.FTS.B,

29.49%,

11/16/24

.

44

43

991106544.UG.FTS.B,

29.49%,

11/16/24

.

110

110

991108073.UG.FTS.B,

29.49%,

11/16/24

.

1

0

991109786.UG.FTS.B,

29.49%,

11/16/24

.

291

290

991123026.UG.FTS.B,

29.49%,

11/16/24

.

33

(1)

991132554.UG.FTS.B,

29.49%,

11/16/24

.

152

151

991133361.UG.FTS.B,

29.49%,

11/16/24

.

83

83

991137323.UG.FTS.B,

29.49%,

11/16/24

.

1,010

999

991137353.UG.FTS.B,

29.49%,

11/16/24

.

138

10

991158505.UG.FTS.B,

29.49%,

11/16/24

.

53

53

991182164.UG.FTS.B,

29.49%,

11/16/24

.

300

301

991213983.UG.FTS.B,

29.49%,

11/16/24

.

241

238

991234732.UG.FTS.B,

29.49%,

11/16/24

.

53

53

991245774.UG.FTS.B,

29.49%,

11/16/24

.

463

458

991260449.UG.FTS.B,

29.49%,

11/16/24

.

57

57

991260561.UG.FTS.B,

29.49%,

11/16/24

.

98

96

991263681.UG.FTS.B,

29.49%,

11/16/24

.

139

137

991066192.UG.FTS.B,

Zero

Cpn,

11/17/24

2,624

–

991174648.UG.FTS.B,

Zero

Cpn,

11/17/24

361

–

991177762.UG.FTS.B,

Zero

Cpn,

11/17/24

590

–

991179398.UG.FTS.B,

Zero

Cpn,

11/17/24

369

–

991064798.UG.FTS.B,

19.21%,

11/17/24

.

457

451

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991076389.UG.FTS.B,

19.21%,

11/17/24

.

$

612

$

604

991246363.UG.FTS.B,

19.21%,

11/17/24

.

2,542

2,495

991070460.UG.FTS.B,

19.8%,

11/17/24

..

517

509

991100419.UG.FTS.B,

19.8%,

11/17/24

..

143

141

991128160.UG.FTS.B,

19.8%,

11/17/24

..

166

164

991183019.UG.FTS.B,

19.8%,

11/17/24

..

3,861

3,782

991215163.UG.FTS.B,

19.8%,

11/17/24

..

825

814

991215423.UG.FTS.B,

19.8%,

11/17/24

..

1,893

0

991221853.UG.FTS.B,

19.8%,

11/17/24

..

407

404

991065873.UG.FTS.B,

19.99%,

11/17/24

.

116

117

991083501.UG.FTS.B,

19.99%,

11/17/24

.

552

542

991132871.UG.FTS.B,

19.99%,

11/17/24

.

157

158

991234093.UG.FTS.B,

19.99%,

11/17/24

.

80

80

991275120.UG.FTS.B,

19.99%,

11/17/24

.

166

165

991073785.UG.FTS.B,

20.46%,

11/17/24

.

838

98

991103988.UG.FTS.B,

20.46%,

11/17/24

.

383

377

991232167.UG.FTS.B,

20.46%,

11/17/24

.

149

145

991082799.UG.FTS.B,

20.97%,

11/17/24

.

2,694

1,706

991094726.UG.FTS.B,

20.97%,

11/17/24

.

290

20

991131881.UG.FTS.B,

20.97%,

11/17/24

.

213

210

991064064.UG.FTS.B,

21.46%,

11/17/24

.

295

290

991064783.UG.FTS.B,

21.46%,

11/17/24

.

1,128

1,109

991072601.UG.FTS.B,

21.46%,

11/17/24

.

1,234

(35)

991075412.UG.FTS.B,

21.46%,

11/17/24

.

295

20

991086389.UG.FTS.B,

21.46%,

11/17/24

.

5,078

355

991087993.UG.FTS.B,

21.46%,

11/17/24

.

170

167

991092687.UG.FTS.B,

21.46%,

11/17/24

.

229

225

991108196.UG.FTS.B,

21.46%,

11/17/24

.

2,045

2,006

991110576.UG.FTS.B,

21.46%,

11/17/24

..

240

(6)

991128305.UG.FTS.B,

21.46%,

11/17/24

.

50

49

991148682.UG.FTS.B,

21.46%,

11/17/24

.

99

98

991152161.UG.FTS.B,

21.46%,

11/17/24

.

593

583

991191992.UG.FTS.B,

21.46%,

11/17/24

.

–

–

991081575.UG.FTS.B,

21.98%,

11/17/24

.

331

325

991088067.UG.FTS.B,

21.98%,

11/17/24

.

265

261

991102607.UG.FTS.B,

21.98%,

11/17/24

.

1,441

1,416

991121813.UG.FTS.B,

21.98%,

11/17/24

.

69

68

991122048.UG.FTS.B,

21.98%,

11/17/24

.

239

235

991125598.UG.FTS.B,

21.98%,

11/17/24

.

128

125

991090075.UG.FTS.B,

22.95%,

11/17/24

.

165

161

991101885.UG.FTS.B,

22.95%,

11/17/24

.

499

36

991076633.UG.FTS.B,

22.97%,

11/17/24

.

2,667

2,620

991190627.UG.FTS.B,

22.97%,

11/17/24

.

1,665

1,631

991251530.UG.FTS.B,

22.97%,

11/17/24

.

89

87

991153954.UG.FTS.B,

23.95%,

11/17/24

.

90

88

991079431.UG.FTS.B,

25.95%,

11/17/24

.

364

355

991089872.UG.FTS.B,

25.95%,

11/17/24

.

290

284

991173942.UG.FTS.B,

25.95%,

11/17/24

.

10

9

991253889.UG.FTS.B,

25.95%,

11/17/24

.

13

13

991070668.UG.FTS.B,

26.94%,

11/17/24

.

13

13

991065007.UG.FTS.B,

27.99%,

11/17/24

.

303

300

991065027.UG.FTS.B,

27.99%,

11/17/24

.

1,326

1,326

991139363.UG.FTS.B,

27.99%,

11/17/24

.

300

297

991254668.UG.FTS.B,

27.99%,

11/17/24

.

257

255

991266169.UG.FTS.B,

27.99%,

11/17/24

.

221

218

991064290.UG.FTS.B,

28.98%,

11/17/24

.

348

350

991064775.UG.FTS.B,

28.98%,

11/17/24

.

–

–

991065223.UG.FTS.B,

28.98%,

11/17/24

.

3,272

219

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

300

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991065238.UG.FTS.B,

28.98%,

11/17/24

.

$

287

$

283

991065951.UG.FTS.B,

28.98%,

11/17/24

.

320

22

991067567.UG.FTS.B,

28.98%,

11/17/24

.

1,972

1,949

991068760.UG.FTS.B,

28.98%,

11/17/24

.

275

272

991070550.UG.FTS.B,

28.98%,

11/17/24

.

662

664

991075646.UG.FTS.B,

28.98%,

11/17/24

.

674

676

991082307.UG.FTS.B,

28.98%,

11/17/24

.

125

123

991092278.UG.FTS.B,

28.98%,

11/17/24

.

56

55

991102484.UG.FTS.B,

28.98%,

11/17/24

.

851

854

991104333.UG.FTS.B,

28.98%,

11/17/24

.

943

946

991108047.UG.FTS.B,

28.98%,

11/17/24

.

324

22

991117177.UG.FTS.B,

28.98%,

11/17/24

..

626

617

991120282.UG.FTS.B,

28.98%,

11/17/24

.

423

424

991137204.UG.FTS.B,

28.98%,

11/17/24

.

428

429

991138123.UG.FTS.B,

28.98%,

11/17/24

.

35

35

991138661.UG.FTS.B,

28.98%,

11/17/24

.

382

376

991138815.UG.FTS.B,

28.98%,

11/17/24

.

21

21

991147163.UG.FTS.B,

28.98%,

11/17/24

.

116

114

991237888.UG.FTS.B,

28.98%,

11/17/24

.

720

722

991238266.UG.FTS.B,

28.98%,

11/17/24

.

61

4

991253944.UG.FTS.B,

28.98%,

11/17/24

.

106

104

991257818.UG.FTS.B,

28.98%,

11/17/24

.

247

244

991260460.UG.FTS.B,

28.98%,

11/17/24

.

46

45

991261757.UG.FTS.B,

28.98%,

11/17/24

.

74

74

991262475.UG.FTS.B,

28.98%,

11/17/24

.

17

15

991262628.UG.FTS.B,

28.98%,

11/17/24

.

104

103

991267740.UG.FTS.B,

28.98%,

11/17/24

.

288

260

991270555.UG.FTS.B,

28.98%,

11/17/24

.

442

437

991064180.UG.FTS.B,

29.49%,

11/17/24

.

644

648

991064475.UG.FTS.B,

29.49%,

11/17/24

.

465

468

991064503.UG.FTS.B,

29.49%,

11/17/24

.

236

(8)

991064822.UG.FTS.B,

29.49%,

11/17/24

.

183

183

991064865.UG.FTS.B,

29.49%,

11/17/24

.

206

207

991065830.UG.FTS.B,

29.49%,

11/17/24

.

468

470

991066310.UG.FTS.B,

29.49%,

11/17/24

.

106

106

991066366.UG.FTS.B,

29.49%,

11/17/24

.

–

–

991066528.UG.FTS.B,

29.49%,

11/17/24

.

143

10

991066750.UG.FTS.B,

29.49%,

11/17/24

.

172

171

991067694.UG.FTS.B,

29.49%,

11/17/24

.

3,006

3,002

991067941.UG.FTS.B,

29.49%,

11/17/24

.

220

215

991068278.UG.FTS.B,

29.49%,

11/17/24

.

8

8

991069592.UG.FTS.B,

29.49%,

11/17/24

.

230

16

991070165.UG.FTS.B,

29.49%,

11/17/24

.

487

485

991071435.UG.FTS.B,

29.49%,

11/17/24

.

399

400

991076785.UG.FTS.B,

29.49%,

11/17/24

.

442

430

991077041.UG.FTS.B,

29.49%,

11/17/24

.

1,467

1,467

991077147.UG.FTS.B,

29.49%,

11/17/24

.

60

59

991077312.UG.FTS.B,

29.49%,

11/17/24

.

179

180

991080298.UG.FTS.B,

29.49%,

11/17/24

.

87

86

991081268.UG.FTS.B,

29.49%,

11/17/24

.

148

149

991081304.UG.FTS.B,

29.49%,

11/17/24

.

406

404

991082096.UG.FTS.B,

29.49%,

11/17/24

.

855

855

991083068.UG.FTS.B,

29.49%,

11/17/24

.

387

389

991085325.UG.FTS.B,

29.49%,

11/17/24

.

439

437

991088188.UG.FTS.B,

29.49%,

11/17/24

.

876

873

991088375.UG.FTS.B,

29.49%,

11/17/24

.

880

870

991088562.UG.FTS.B,

29.49%,

11/17/24

.

1,073

80

991089148.UG.FTS.B,

29.49%,

11/17/24

.

991

658

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991090724.UG.FTS.B,

29.49%,

11/17/24

.

$

1,621

$

1,628

991091518.UG.FTS.B,

29.49%,

11/17/24

.

210

211

991097511.UG.FTS.B,

29.49%,

11/17/24

.

460

459

991097714.UG.FTS.B,

29.49%,

11/17/24

.

215

212

991100990.UG.FTS.B,

29.49%,

11/17/24

.

439

430

991101031.UG.FTS.B,

29.49%,

11/17/24

.

229

226

991104529.UG.FTS.B,

29.49%,

11/17/24

.

623

626

991105286.UG.FTS.B,

29.49%,

11/17/24

.

969

969

991108596.UG.FTS.B,

29.49%,

11/17/24

.

647

430

991117313.UG.FTS.B,

29.49%,

11/17/24

..

237

234

991123383.UG.FTS.B,

29.49%,

11/17/24

.

358

360

991125316.UG.FTS.B,

29.49%,

11/17/24

.

1,242

1,248

991128494.UG.FTS.B,

29.49%,

11/17/24

.

429

431

991134880.UG.FTS.B,

29.49%,

11/17/24

.

1,298

1,274

991136525.UG.FTS.B,

29.49%,

11/17/24

.

117

115

991148118.UG.FTS.B,

29.49%,

11/17/24

..

154

(4)

991151011.UG.FTS.B,

29.49%,

11/17/24

..

548

543

991152635.UG.FTS.B,

29.49%,

11/17/24

.

712

704

991155141.UG.FTS.B,

29.49%,

11/17/24

.

310

306

991155329.UG.FTS.B,

29.49%,

11/17/24

.

261

257

991157780.UG.FTS.B,

29.49%,

11/17/24

.

149

149

991163253.UG.FTS.B,

29.49%,

11/17/24

.

5

5

991174006.UG.FTS.B,

29.49%,

11/17/24

.

663

655

991200202.UG.FTS.B,

29.49%,

11/17/24

.

453

449

991207072.UG.FTS.B,

29.49%,

11/17/24

.

107

106

991220952.UG.FTS.B,

29.49%,

11/17/24

.

138

136

991222595.UG.FTS.B,

29.49%,

11/17/24

.

39

38

991229436.UG.FTS.B,

29.49%,

11/17/24

.

408

400

991237364.UG.FTS.B,

29.49%,

11/17/24

.

186

184

991242720.UG.FTS.B,

29.49%,

11/17/24

.

205

202

991255333.UG.FTS.B,

29.49%,

11/17/24

.

182

180

991260308.UG.FTS.B,

29.49%,

11/17/24

.

149

147

991260507.UG.FTS.B,

29.49%,

11/17/24

.

390

28

991266302.UG.FTS.B,

29.49%,

11/17/24

.

316

22

991269030.UG.FTS.B,

29.49%,

11/17/24

.

259

17

991269461.UG.FTS.B,

29.49%,

11/17/24

.

925

914

991275005.UG.FTS.B,

29.49%,

11/17/24

.

925

911

991082812.UG.FTS.B,

Zero

Cpn,

11/18/24

151

–

991093261.UG.FTS.B,

Zero

Cpn,

11/18/24

500

–

991159149.UG.FTS.B,

Zero

Cpn,

11/18/24

213

–

991212805.UG.FTS.B,

Zero

Cpn,

11/18/24

2,559

–

991250367.UG.FTS.B,

Zero

Cpn,

11/18/24

64

–

991257984.UG.FTS.B,

Zero

Cpn,

11/18/24

346

–

991085150.UG.FTS.B,

18.97%,

11/18/24

.

540

532

991112590.UG.FTS.B,

18.97%,

11/18/24

..

4

4

991218211.UG.FTS.B,

18.97%,

11/18/24

.

1,506

1,479

991223029.UG.FTS.B,

18.97%,

11/18/24

.

–

–

991075410.UG.FTS.B,

19.21%,

11/18/24

.

21

21

991076070.UG.FTS.B,

19.21%,

11/18/24

.

690

680

991096721.UG.FTS.B,

19.21%,

11/18/24

.

290

286

991144974.UG.FTS.B,

19.21%,

11/18/24

.

267

264

991236091.UG.FTS.B,

19.21%,

11/18/24

.

104

103

991076327.UG.FTS.B,

19.8%,

11/18/24

..

887

875

991224037.UG.FTS.B,

19.8%,

11/18/24

..

565

554

991231361.UG.FTS.B,

19.8%,

11/18/24

..

180

176

991238529.UG.FTS.B,

19.8%,

11/18/24

..

2,045

2,002

991266262.UG.FTS.B,

19.8%,

11/18/24

..

1,305

813

991271638.UG.FTS.B,

19.8%,

11/18/24

..

131

128

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

301

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991068853.UG.FTS.B,

19.99%,

11/18/24

.

$

611

$

607

991069918.UG.FTS.B,

19.99%,

11/18/24

.

530

525

991080396.UG.FTS.B,

19.99%,

11/18/24

.

76

13

991139772.UG.FTS.B,

19.99%,

11/18/24

.

117

117

991081514.UG.FTS.B,

20.46%,

11/18/24

.

280

19

991098176.UG.FTS.B,

20.46%,

11/18/24

.

472

465

991120224.UG.FTS.B,

20.46%,

11/18/24

.

417

411

991121705.UG.FTS.B,

20.46%,

11/18/24

.

428

422

991161633.UG.FTS.B,

20.46%,

11/18/24

.

125

123

991201853.UG.FTS.B,

20.46%,

11/18/24

.

149

147

991253040.UG.FTS.B,

20.46%,

11/18/24

.

262

257

991274365.UG.FTS.B,

20.46%,

11/18/24

.

1,881

1,841

991068677.UG.FTS.B,

20.97%,

11/18/24

.

778

766

991069159.UG.FTS.B,

20.97%,

11/18/24

.

218

215

991081741.UG.FTS.B,

20.97%,

11/18/24

.

431

424

991099861.UG.FTS.B,

20.97%,

11/18/24

.

307

303

991105387.UG.FTS.B,

20.97%,

11/18/24

.

855

843

991139545.UG.FTS.B,

20.97%,

11/18/24

.

115

113

991187853.UG.FTS.B,

20.97%,

11/18/24

.

190

186

991070225.UG.FTS.B,

21.46%,

11/18/24

.

57

56

991076711.UG.FTS.B,

21.46%,

11/18/24

.

668

657

991077296.UG.FTS.B,

21.46%,

11/18/24

.

36

35

991080037.UG.FTS.B,

21.46%,

11/18/24

.

1,593

1,563

991082397.UG.FTS.B,

21.46%,

11/18/24

.

232

229

991085055.UG.FTS.B,

21.46%,

11/18/24

.

239

153

991087476.UG.FTS.B,

21.46%,

11/18/24

.

503

495

991117096.UG.FTS.B,

21.46%,

11/18/24

..

7

7

991123966.UG.FTS.B,

21.46%,

11/18/24

.

511

502

991148797.UG.FTS.B,

21.46%,

11/18/24

.

621

610

991168160.UG.FTS.B,

21.46%,

11/18/24

.

331

325

991197747.UG.FTS.B,

21.46%,

11/18/24

.

332

326

991216620.UG.FTS.B,

21.46%,

11/18/24

.

166

163

991241045.UG.FTS.B,

21.46%,

11/18/24

.

81

79

991217130.UG.FTS.B,

21.97%,

11/18/24

.

130

127

991258967.UG.FTS.B,

21.97%,

11/18/24

.

456

444

991272076.UG.FTS.B,

21.97%,

11/18/24

.

23

22

991112148.UG.FTS.B,

21.98%,

11/18/24

..

268

262

991131564.UG.FTS.B,

21.98%,

11/18/24

.

891

876

991134666.UG.FTS.B,

21.98%,

11/18/24

.

836

822

991154395.UG.FTS.B,

21.98%,

11/18/24

.

406

399

991164518.UG.FTS.B,

22.97%,

11/18/24

.

63

62

991256526.UG.FTS.B,

22.97%,

11/18/24

.

136

133

991070388.UG.FTS.B,

23.95%,

11/18/24

.

255

249

991083760.UG.FTS.B,

23.95%,

11/18/24

.

447

437

991104120.UG.FTS.B,

23.95%,

11/18/24

.

846

822

991164077.UG.FTS.B,

23.95%,

11/18/24

.

105

103

991068855.UG.FTS.B,

25.94%,

11/18/24

.

243

159

991142510.UG.FTS.B,

25.94%,

11/18/24

.

414

405

991069413.UG.FTS.B,

25.95%,

11/18/24

.

241

236

991074289.UG.FTS.B,

25.95%,

11/18/24

.

768

510

991076971.UG.FTS.B,

25.95%,

11/18/24

.

817

800

991125353.UG.FTS.B,

25.95%,

11/18/24

.

29

28

991150544.UG.FTS.B,

25.95%,

11/18/24

.

141

91

991198800.UG.FTS.B,

25.95%,

11/18/24

.

272

267

991253923.UG.FTS.B,

25.95%,

11/18/24

.

414

401

991069054.UG.FTS.B,

26.94%,

11/18/24

.

689

672

991120025.UG.FTS.B,

26.94%,

11/18/24

.

1,055

1,030

991257896.UG.FTS.B,

26.94%,

11/18/24

.

811

785

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991068866.UG.FTS.B,

27.99%,

11/18/24

.

$

3,549

$

3,514

991085894.UG.FTS.B,

27.99%,

11/18/24

.

405

407

991273366.UG.FTS.B,

27.99%,

11/18/24

.

13

13

991069515.UG.FTS.B,

28.98%,

11/18/24

.

1,184

80

991070331.UG.FTS.B,

28.98%,

11/18/24

.

220

219

991070598.UG.FTS.B,

28.98%,

11/18/24

.

1,076

1,068

991071113.UG.FTS.B,

28.98%,

11/18/24

..

32

32

991071737.UG.FTS.B,

28.98%,

11/18/24

.

499

501

991075517.UG.FTS.B,

28.98%,

11/18/24

.

305

301

991077563.UG.FTS.B,

28.98%,

11/18/24

.

42

42

991082652.UG.FTS.B,

28.98%,

11/18/24

.

628

623

991085878.UG.FTS.B,

28.98%,

11/18/24

.

244

245

991091599.UG.FTS.B,

28.98%,

11/18/24

.

180

181

991092153.UG.FTS.B,

28.98%,

11/18/24

.

149

150

991097338.UG.FTS.B,

28.98%,

11/18/24

.

105

105

991104356.UG.FTS.B,

28.98%,

11/18/24

.

40

39

991104647.UG.FTS.B,

28.98%,

11/18/24

.

632

623

991105241.UG.FTS.B,

28.98%,

11/18/24

.

639

627

991113097.UG.FTS.B,

28.98%,

11/18/24

..

211

211

991114213.UG.FTS.B,

28.98%,

11/18/24

..

159

157

991115818.UG.FTS.B,

28.98%,

11/18/24

..

121

119

991117034.UG.FTS.B,

28.98%,

11/18/24

..

610

613

991120450.UG.FTS.B,

28.98%,

11/18/24

.

2,549

2,559

991121961.UG.FTS.B,

28.98%,

11/18/24

.

61

61

991128972.UG.FTS.B,

28.98%,

11/18/24

.

119

8

991137465.UG.FTS.B,

28.98%,

11/18/24

.

120

118

991138076.UG.FTS.B,

28.98%,

11/18/24

.

599

589

991143256.UG.FTS.B,

28.98%,

11/18/24

.

1,051

1,044

991144168.UG.FTS.B,

28.98%,

11/18/24

.

144

144

991144216.UG.FTS.B,

28.98%,

11/18/24

.

43

43

991148076.UG.FTS.B,

28.98%,

11/18/24

.

209

210

991162325.UG.FTS.B,

28.98%,

11/18/24

.

56

56

991174897.UG.FTS.B,

28.98%,

11/18/24

.

733

721

991177357.UG.FTS.B,

28.98%,

11/18/24

.

463

301

991183993.UG.FTS.B,

28.98%,

11/18/24

.

1,101

1,105

991203060.UG.FTS.B,

28.98%,

11/18/24

.

303

300

991225745.UG.FTS.B,

28.98%,

11/18/24

.

183

182

991233679.UG.FTS.B,

28.98%,

11/18/24

.

359

353

991243111.UG.FTS.B,

28.98%,

11/18/24

..

54

4

991248335.UG.FTS.B,

28.98%,

11/18/24

.

162

160

991248592.UG.FTS.B,

28.98%,

11/18/24

.

253

248

991249319.UG.FTS.B,

28.98%,

11/18/24

.

77

77

991249956.UG.FTS.B,

28.98%,

11/18/24

.

0

0

991255587.UG.FTS.B,

28.98%,

11/18/24

.

517

509

991256863.UG.FTS.B,

28.98%,

11/18/24

.

162

160

991259091.UG.FTS.B,

28.98%,

11/18/24

.

389

382

991265478.UG.FTS.B,

28.98%,

11/18/24

.

305

302

991266829.UG.FTS.B,

28.98%,

11/18/24

.

2,286

2,256

991266958.UG.FTS.B,

28.98%,

11/18/24

.

251

249

991268787.UG.FTS.B,

28.98%,

11/18/24

.

920

903

991274554.UG.FTS.B,

28.98%,

11/18/24

.

650

644

991275662.UG.FTS.B,

28.98%,

11/18/24

.

866

851

991276590.UG.FTS.B,

28.98%,

11/18/24

.

185

183

991279616.UG.FTS.B,

28.98%,

11/18/24

.

47

46

991282938.UG.FTS.B,

28.98%,

11/18/24

.

8

8

991285759.UG.FTS.B,

28.98%,

11/18/24

.

503

498

991068752.UG.FTS.B,

29.49%,

11/18/24

.

136

136

991069189.UG.FTS.B,

29.49%,

11/18/24

.

1,513

104

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

302

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991070037.UG.FTS.B,

29.49%,

11/18/24

.

$

483

$

477

991070830.UG.FTS.B,

29.49%,

11/18/24

.

12

12

991070972.UG.FTS.B,

29.49%,

11/18/24

.

257

253

991071642.UG.FTS.B,

29.49%,

11/18/24

.

96

96

991071681.UG.FTS.B,

29.49%,

11/18/24

.

46

45

991074541.UG.FTS.B,

29.49%,

11/18/24

.

183

39

991077410.UG.FTS.B,

29.49%,

11/18/24

.

638

627

991078201.UG.FTS.B,

29.49%,

11/18/24

.

236

237

991078433.UG.FTS.B,

29.49%,

11/18/24

.

3,133

213

991079864.UG.FTS.B,

29.49%,

11/18/24

.

627

617

991081763.UG.FTS.B,

29.49%,

11/18/24

.

41

41

991081828.UG.FTS.B,

29.49%,

11/18/24

.

569

562

991083241.UG.FTS.B,

29.49%,

11/18/24

.

23

23

991083550.UG.FTS.B,

29.49%,

11/18/24

.

636

640

991086279.UG.FTS.B,

29.49%,

11/18/24

.

27

27

991086378.UG.FTS.B,

29.49%,

11/18/24

.

208

209

991092595.UG.FTS.B,

29.49%,

11/18/24

.

1,456

944

991092822.UG.FTS.B,

29.49%,

11/18/24

.

178

176

991092908.UG.FTS.B,

29.49%,

11/18/24

.

1,640

1,649

991094588.UG.FTS.B,

29.49%,

11/18/24

.

639

642

991094659.UG.FTS.B,

29.49%,

11/18/24

.

1,380

94

991095845.UG.FTS.B,

29.49%,

11/18/24

.

360

356

991095847.UG.FTS.B,

29.49%,

11/18/24

.

519

519

991103237.UG.FTS.B,

29.49%,

11/18/24

.

71

70

991105247.UG.FTS.B,

29.49%,

11/18/24

.

214

215

991112355.UG.FTS.B,

29.49%,

11/18/24

..

1,289

1,271

991113925.UG.FTS.B,

29.49%,

11/18/24

..

379

379

991114408.UG.FTS.B,

29.49%,

11/18/24

..

–

–

991121999.UG.FTS.B,

29.49%,

11/18/24

.

1,295

1,301

991123315.UG.FTS.B,

29.49%,

11/18/24

.

269

270

991123662.UG.FTS.B,

29.49%,

11/18/24

.

106

104

991123768.UG.FTS.B,

29.49%,

11/18/24

.

152

150

991129264.UG.FTS.B,

29.49%,

11/18/24

.

218

218

991130163.UG.FTS.B,

29.49%,

11/18/24

.

98

97

991136853.UG.FTS.B,

29.49%,

11/18/24

.

553

543

991138306.UG.FTS.B,

29.49%,

11/18/24

.

293

294

991149128.UG.FTS.B,

29.49%,

11/18/24

.

689

679

991154165.UG.FTS.B,

29.49%,

11/18/24

.

70

70

991160678.UG.FTS.B,

29.49%,

11/18/24

.

229

227

991162117.UG.FTS.B,

29.49%,

11/18/24

..

274

(4)

991162312.UG.FTS.B,

29.49%,

11/18/24

.

221

217

991174286.UG.FTS.B,

29.49%,

11/18/24

.

33

33

991175320.UG.FTS.B,

29.49%,

11/18/24

.

157

155

991175491.UG.FTS.B,

29.49%,

11/18/24

.

96

94

991178293.UG.FTS.B,

29.49%,

11/18/24

.

1,256

85

991190143.UG.FTS.B,

29.49%,

11/18/24

.

102

101

991195198.UG.FTS.B,

29.49%,

11/18/24

.

204

202

991201579.UG.FTS.B,

29.49%,

11/18/24

.

437

63

991204138.UG.FTS.B,

29.49%,

11/18/24

.

23

23

991204250.UG.FTS.B,

29.49%,

11/18/24

.

313

310

991205021.UG.FTS.B,

29.49%,

11/18/24

.

2,059

2,068

991205352.UG.FTS.B,

29.49%,

11/18/24

.

503

497

991213925.UG.FTS.B,

29.49%,

11/18/24

.

26

26

991222559.UG.FTS.B,

29.49%,

11/18/24

.

265

262

991225501.UG.FTS.B,

29.49%,

11/18/24

.

240

238

991232899.UG.FTS.B,

29.49%,

11/18/24

.

612

602

991233241.UG.FTS.B,

29.49%,

11/18/24

.

230

228

991236920.UG.FTS.B,

29.49%,

11/18/24

.

203

200

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991242160.UG.FTS.B,

29.49%,

11/18/24

.

$

459

$

453

991250623.UG.FTS.B,

29.49%,

11/18/24

.

168

166

991253050.UG.FTS.B,

29.49%,

11/18/24

.

242

236

991257738.UG.FTS.B,

29.49%,

11/18/24

.

107

14

991261895.UG.FTS.B,

29.49%,

11/18/24

.

146

144

991264341.UG.FTS.B,

29.49%,

11/18/24

.

420

414

991264366.UG.FTS.B,

29.49%,

11/18/24

.

47

3

991265141.UG.FTS.B,

29.49%,

11/18/24

.

20

20

991265966.UG.FTS.B,

29.49%,

11/18/24

.

97

97

991266602.UG.FTS.B,

29.49%,

11/18/24

.

437

30

991267458.UG.FTS.B,

29.49%,

11/18/24

.

138

18

991268612.UG.FTS.B,

29.49%,

11/18/24

.

252

248

991270692.UG.FTS.B,

29.49%,

11/18/24

.

252

248

991270942.UG.FTS.B,

29.49%,

11/18/24

.

594

76

991270949.UG.FTS.B,

29.49%,

11/18/24

.

91

91

991271385.UG.FTS.B,

29.49%,

11/18/24

.

59

4

991273989.UG.FTS.B,

29.49%,

11/18/24

.

1,272

1,259

991274008.UG.FTS.B,

29.49%,

11/18/24

.

24

24

991274620.UG.FTS.B,

29.49%,

11/18/24

.

12

12

991277439.UG.FTS.B,

29.49%,

11/18/24

.

515

345

991285349.UG.FTS.B,

29.49%,

11/18/24

.

122

118

991285965.UG.FTS.B,

29.49%,

11/18/24

.

4,600

2,980

991286551.UG.FTS.B,

29.49%,

11/18/24

.

483

475

991286648.UG.FTS.B,

29.49%,

11/18/24

.

209

206

991286703.UG.FTS.B,

29.49%,

11/18/24

.

–

–

991079220.UG.FTS.B,

Zero

Cpn,

11/19/24

154

–

991081918.UG.FTS.B,

Zero

Cpn,

11/19/24

210

–

991082635.UG.FTS.B,

Zero

Cpn,

11/19/24

80

5

991085373.UG.FTS.B,

Zero

Cpn,

11/19/24

1,727

–

991086188.UG.FTS.B,

Zero

Cpn,

11/19/24

72

–

991087191.UG.FTS.B,

Zero

Cpn,

11/19/24

3,000

–

991089924.UG.FTS.B,

Zero

Cpn,

11/19/24

421

–

991093498.UG.FTS.B,

Zero

Cpn,

11/19/24

145

–

991094671.UG.FTS.B,

Zero

Cpn,

11/19/24

202

–

991099006.UG.FTS.B,

Zero

Cpn,

11/19/24

265

–

991099402.UG.FTS.B,

Zero

Cpn,

11/19/24

307

–

991101915.UG.FTS.B,

Zero

Cpn,

11/19/24

100

–

991108652.UG.FTS.B,

Zero

Cpn,

11/19/24

277

–

991109437.UG.FTS.B,

Zero

Cpn,

11/19/24

110

–

991111274.UG.FTS.B,

Zero

Cpn,

11/19/24

783

53

991117846.UG.FTS.B,

Zero

Cpn,

11/19/24

143

–

991120216.UG.FTS.B,

Zero

Cpn,

11/19/24

129

9

991120610.UG.FTS.B,

Zero

Cpn,

11/19/24

2,000

–

991122939.UG.FTS.B,

Zero

Cpn,

11/19/24

77

–

991133009.UG.FTS.B,

Zero

Cpn,

11/19/24

246

–

991137079.UG.FTS.B,

Zero

Cpn,

11/19/24

32

–

991147295.UG.FTS.B,

Zero

Cpn,

11/19/24

209

–

991151169.UG.FTS.B,

Zero

Cpn,

11/19/24

176

–

991161137.UG.FTS.B,

Zero

Cpn,

11/19/24

191

–

991167160.UG.FTS.B,

Zero

Cpn,

11/19/24

100

–

991184717.UG.FTS.B,

Zero

Cpn,

11/19/24

872

–

991190952.UG.FTS.B,

Zero

Cpn,

11/19/24

55

–

991192789.UG.FTS.B,

Zero

Cpn,

11/19/24

164

–

991196111.UG.FTS.B,

Zero

Cpn,

11/19/24

214

–

991216525.UG.FTS.B,

Zero

Cpn,

11/19/24

150

–

991231941.UG.FTS.B,

Zero

Cpn,

11/19/24

387

26

991242920.UG.FTS.B,

Zero

Cpn,

11/19/24

361

–

991247062.UG.FTS.B,

Zero

Cpn,

11/19/24

196

–

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

303

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991249767.UG.FTS.B,

Zero

Cpn,

11/19/24

$

105

$

–

991277495.UG.FTS.B,

Zero

Cpn,

11/19/24

122

–

991281182.UG.FTS.B,

Zero

Cpn,

11/19/24

207

14

991282717.UG.FTS.B,

Zero

Cpn,

11/19/24

63

4

991293979.UG.FTS.B,

Zero

Cpn,

11/19/24

108

–

991082326.UG.FTS.B,

18.97%,

11/19/24

.

17

17

991082590.UG.FTS.B,

18.97%,

11/19/24

.

3,887

3,839

991090568.UG.FTS.B,

18.97%,

11/19/24

.

68

68

991110204.UG.FTS.B,

18.97%,

11/19/24

..

826

815

991111651.UG.FTS.B,

18.97%,

11/19/24

..

393

389

991126405.UG.FTS.B,

18.97%,

11/19/24

.

553

546

991204031.UG.FTS.B,

18.97%,

11/19/24

.

456

451

991224732.UG.FTS.B,

18.97%,

11/19/24

.

1,646

1,626

991262913.UG.FTS.B,

18.97%,

11/19/24

.

216

212

991266466.UG.FTS.B,

18.97%,

11/19/24

.

821

807

991086533.UG.FTS.B,

19.21%,

11/19/24

.

437

431

991088805.UG.FTS.B,

19.21%,

11/19/24

.

635

626

991136802.UG.FTS.B,

19.21%,

11/19/24

.

100

99

991150918.UG.FTS.B,

19.21%,

11/19/24

.

493

486

991183100.UG.FTS.B,

19.21%,

11/19/24

.

153

151

991266696.UG.FTS.B,

19.21%,

11/19/24

.

452

443

991079478.UG.FTS.B,

19.8%,

11/19/24

..

336

331

991081336.UG.FTS.B,

19.8%,

11/19/24

..

363

358

991082732.UG.FTS.B,

19.8%,

11/19/24

..

7,110

7,011

991086704.UG.FTS.B,

19.8%,

11/19/24

..

220

217

991098979.UG.FTS.B,

19.8%,

11/19/24

..

641

632

991115770.UG.FTS.B,

19.8%,

11/19/24

...

95

93

991120579.UG.FTS.B,

19.8%,

11/19/24

..

416

410

991130913.UG.FTS.B,

19.8%,

11/19/24

..

627

614

991149401.UG.FTS.B,

19.8%,

11/19/24

..

567

39

991169362.UG.FTS.B,

19.8%,

11/19/24

..

8,022

7,859

991224491.UG.FTS.B,

19.8%,

11/19/24

..

660

651

991227461.UG.FTS.B,

19.8%,

11/19/24

..

341

336

991266414.UG.FTS.B,

19.8%,

11/19/24

..

449

440

991077647.UG.FTS.B,

19.99%,

11/19/24

.

197

198

991081249.UG.FTS.B,

19.99%,

11/19/24

.

148

149

991085548.UG.FTS.B,

19.99%,

11/19/24

.

197

14

991085702.UG.FTS.B,

19.99%,

11/19/24

.

18

18

991087313.UG.FTS.B,

19.99%,

11/19/24

.

2,087

2,098

991105555.UG.FTS.B,

19.99%,

11/19/24

.

264

266

991120422.UG.FTS.B,

19.99%,

11/19/24

.

333

334

991126671.UG.FTS.B,

19.99%,

11/19/24

.

115

116

991132221.UG.FTS.B,

19.99%,

11/19/24

.

1,319

1,326

991139749.UG.FTS.B,

19.99%,

11/19/24

.

260

257

991141300.UG.FTS.B,

19.99%,

11/19/24

.

1,061

1,052

991145420.UG.FTS.B,

19.99%,

11/19/24

.

50

49

991146347.UG.FTS.B,

19.99%,

11/19/24

.

350

352

991147575.UG.FTS.B,

19.99%,

11/19/24

.

1,903

1,903

991163986.UG.FTS.B,

19.99%,

11/19/24

.

7

7

991174246.UG.FTS.B,

19.99%,

11/19/24

.

11

11

991188678.UG.FTS.B,

19.99%,

11/19/24

.

415

417

991192150.UG.FTS.B,

19.99%,

11/19/24

.

59

58

991213128.UG.FTS.B,

19.99%,

11/19/24

.

69

69

991228662.UG.FTS.B,

19.99%,

11/19/24

.

191

188

991245325.UG.FTS.B,

19.99%,

11/19/24

.

135

134

991252730.UG.FTS.B,

19.99%,

11/19/24

.

31

31

991255001.UG.FTS.B,

19.99%,

11/19/24

.

57

56

991260615.UG.FTS.B,

19.99%,

11/19/24

.

280

277

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991266050.UG.FTS.B,

19.99%,

11/19/24

.

$

131

$

130

991085469.UG.FTS.B,

20.46%,

11/19/24

.

2,556

1,604

991090200.UG.FTS.B,

20.46%,

11/19/24

.

497

489

991102726.UG.FTS.B,

20.46%,

11/19/24

.

390

384

991109524.UG.FTS.B,

20.46%,

11/19/24

.

571

562

991143891.UG.FTS.B,

20.46%,

11/19/24

.

332

23

991207328.UG.FTS.B,

20.46%,

11/19/24

.

261

257

991247033.UG.FTS.B,

20.46%,

11/19/24

.

824

806

991263847.UG.FTS.B,

20.46%,

11/19/24

.

352

345

991077809.UG.FTS.B,

20.97%,

11/19/24

.

2,378

2,339

991086163.UG.FTS.B,

20.97%,

11/19/24

.

1,421

1,399

991086523.UG.FTS.B,

20.97%,

11/19/24

.

993

118

991087156.UG.FTS.B,

20.97%,

11/19/24

.

1,424

1,403

991088620.UG.FTS.B,

20.97%,

11/19/24

.

35

2

991183459.UG.FTS.B,

20.97%,

11/19/24

.

831

818

991250748.UG.FTS.B,

20.97%,

11/19/24

.

268

262

991269259.UG.FTS.B,

20.97%,

11/19/24

.

1,156

1,130

991084979.UG.FTS.B,

21.46%,

11/19/24

.

198

195

991086287.UG.FTS.B,

21.46%,

11/19/24

.

2,607

180

991092934.UG.FTS.B,

21.46%,

11/19/24

.

643

632

991094516.UG.FTS.B,

21.46%,

11/19/24

.

–

–

991100598.UG.FTS.B,

21.46%,

11/19/24

.

76

74

991106686.UG.FTS.B,

21.46%,

11/19/24

.

121

119

991113079.UG.FTS.B,

21.46%,

11/19/24

..

765

752

991123943.UG.FTS.B,

21.46%,

11/19/24

.

165

162

991225627.UG.FTS.B,

21.46%,

11/19/24

.

249

245

991268376.UG.FTS.B,

21.46%,

11/19/24

.

386

376

991084861.UG.FTS.B,

21.97%,

11/19/24

.

71

70

991115744.UG.FTS.B,

21.97%,

11/19/24

..

211

205

991078051.UG.FTS.B,

21.98%,

11/19/24

.

361

355

991098075.UG.FTS.B,

21.98%,

11/19/24

.

428

420

991105577.UG.FTS.B,

21.98%,

11/19/24

.

170

167

991107586.UG.FTS.B,

21.98%,

11/19/24

.

194

13

991111952.UG.FTS.B,

21.98%,

11/19/24

..

326

22

991129402.UG.FTS.B,

21.98%,

11/19/24

.

586

576

991204148.UG.FTS.B,

21.98%,

11/19/24

.

127

125

991269037.UG.FTS.B,

21.98%,

11/19/24

.

142

3

991293290.UG.FTS.B,

21.98%,

11/19/24

.

26

25

991120524.UG.FTS.B,

22.95%,

11/19/24

.

1,769

217

991078117.UG.FTS.B,

22.97%,

11/19/24

.

6

6

991079026.UG.FTS.B,

22.97%,

11/19/24

.

1,061

1,043

991133751.UG.FTS.B,

22.97%,

11/19/24

.

17

17

991236066.UG.FTS.B,

22.97%,

11/19/24

.

187

183

991078332.UG.FTS.B,

25.95%,

11/19/24

.

276

175

991096749.UG.FTS.B,

27.99%,

11/19/24

.

58

58

991107639.UG.FTS.B,

27.99%,

11/19/24

.

231

16

991135675.UG.FTS.B,

27.99%,

11/19/24

.

774

774

991161692.UG.FTS.B,

27.99%,

11/19/24

.

94

6

991162755.UG.FTS.B,

27.99%,

11/19/24

.

3

3

991176871.UG.FTS.B,

27.99%,

11/19/24

.

446

291

991184596.UG.FTS.B,

27.99%,

11/19/24

.

847

851

991241992.UG.FTS.B,

27.99%,

11/19/24

.

60

59

991283925.UG.FTS.B,

27.99%,

11/19/24

.

586

579

991077878.UG.FTS.B,

28.98%,

11/19/24

.

362

1

991077910.UG.FTS.B,

28.98%,

11/19/24

.

553

555

991078286.UG.FTS.B,

28.98%,

11/19/24

.

28

27

991078717.UG.FTS.B,

28.98%,

11/19/24

.

2,332

2,330

991079074.UG.FTS.B,

28.98%,

11/19/24

.

680

683

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

304

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991079330.UG.FTS.B,

28.98%,

11/19/24

.

$

439

$

437

991079346.UG.FTS.B,

28.98%,

11/19/24

.

142

141

991079572.UG.FTS.B,

28.98%,

11/19/24

.

22

22

991079861.UG.FTS.B,

28.98%,

11/19/24

.

234

234

991080093.UG.FTS.B,

28.98%,

11/19/24

.

119

120

991080486.UG.FTS.B,

28.98%,

11/19/24

.

84

84

991080857.UG.FTS.B,

28.98%,

11/19/24

.

4,724

4,746

991081123.UG.FTS.B,

28.98%,

11/19/24

.

859

863

991081849.UG.FTS.B,

28.98%,

11/19/24

.

375

376

991082264.UG.FTS.B,

28.98%,

11/19/24

.

12

12

991082502.UG.FTS.B,

28.98%,

11/19/24

.

349

351

991082585.UG.FTS.B,

28.98%,

11/19/24

.

45

45

991083455.UG.FTS.B,

28.98%,

11/19/24

.

300

20

991084445.UG.FTS.B,

28.98%,

11/19/24

.

474

471

991085511.UG.FTS.B,

28.98%,

11/19/24

.

0

0

991085976.UG.FTS.B,

28.98%,

11/19/24

.

1

1

991086111.UG.FTS.B,

28.98%,

11/19/24

..

489

33

991086365.UG.FTS.B,

28.98%,

11/19/24

.

79

78

991086418.UG.FTS.B,

28.98%,

11/19/24

.

52

52

991086895.UG.FTS.B,

28.98%,

11/19/24

.

341

219

991086970.UG.FTS.B,

28.98%,

11/19/24

.

1,597

1,580

991087100.UG.FTS.B,

28.98%,

11/19/24

.

172

172

991087646.UG.FTS.B,

28.98%,

11/19/24

.

581

583

991088048.UG.FTS.B,

28.98%,

11/19/24

.

1,021

1,021

991089356.UG.FTS.B,

28.98%,

11/19/24

.

142

141

991089448.UG.FTS.B,

28.98%,

11/19/24

.

486

488

991090103.UG.FTS.B,

28.98%,

11/19/24

.

160

161

991091771.UG.FTS.B,

28.98%,

11/19/24

.

115

114

991092094.UG.FTS.B,

28.98%,

11/19/24

.

1,328

1,334

991092246.UG.FTS.B,

28.98%,

11/19/24

.

107

108

991092588.UG.FTS.B,

28.98%,

11/19/24

.

67

67

991092718.UG.FTS.B,

28.98%,

11/19/24

.

52

52

991093210.UG.FTS.B,

28.98%,

11/19/24

.

171

172

991094159.UG.FTS.B,

28.98%,

11/19/24

.

338

337

991094660.UG.FTS.B,

28.98%,

11/19/24

.

83

83

991095778.UG.FTS.B,

28.98%,

11/19/24

.

26

26

991096255.UG.FTS.B,

28.98%,

11/19/24

.

575

578

991096387.UG.FTS.B,

28.98%,

11/19/24

.

734

735

991096562.UG.FTS.B,

28.98%,

11/19/24

.

112

24

991096689.UG.FTS.B,

28.98%,

11/19/24

.

41

41

991096806.UG.FTS.B,

28.98%,

11/19/24

.

1,913

1,921

991097573.UG.FTS.B,

28.98%,

11/19/24

.

112

111

991097677.UG.FTS.B,

28.98%,

11/19/24

.

267

171

991097697.UG.FTS.B,

28.98%,

11/19/24

.

188

186

991097773.UG.FTS.B,

28.98%,

11/19/24

.

361

362

991097893.UG.FTS.B,

28.98%,

11/19/24

.

416

408

991098068.UG.FTS.B,

28.98%,

11/19/24

.

165

166

991098218.UG.FTS.B,

28.98%,

11/19/24

.

158

158

991098231.UG.FTS.B,

28.98%,

11/19/24

.

35

35

991098462.UG.FTS.B,

28.98%,

11/19/24

.

453

455

991099519.UG.FTS.B,

28.98%,

11/19/24

.

0

0

991101044.UG.FTS.B,

28.98%,

11/19/24

.

272

273

991101178.UG.FTS.B,

28.98%,

11/19/24

..

166

167

991102475.UG.FTS.B,

28.98%,

11/19/24

.

103

103

991102831.UG.FTS.B,

28.98%,

11/19/24

.

478

480

991103136.UG.FTS.B,

28.98%,

11/19/24

.

280

277

991103207.UG.FTS.B,

28.98%,

11/19/24

.

264

264

991103262.UG.FTS.B,

28.98%,

11/19/24

.

391

387

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991103976.UG.FTS.B,

28.98%,

11/19/24

.

$

807

$

810

991104468.UG.FTS.B,

28.98%,

11/19/24

.

3,969

3,986

991104595.UG.FTS.B,

28.98%,

11/19/24

.

92

92

991105346.UG.FTS.B,

28.98%,

11/19/24

.

335

334

991105565.UG.FTS.B,

28.98%,

11/19/24

.

295

291

991106009.UG.FTS.B,

28.98%,

11/19/24

.

18

17

991106293.UG.FTS.B,

28.98%,

11/19/24

.

285

287

991106396.UG.FTS.B,

28.98%,

11/19/24

.

142

141

991107342.UG.FTS.B,

28.98%,

11/19/24

.

270

270

991107864.UG.FTS.B,

28.98%,

11/19/24

.

195

196

991108611.UG.FTS.B,

28.98%,

11/19/24

..

180

180

991108896.UG.FTS.B,

28.98%,

11/19/24

.

383

384

991109165.UG.FTS.B,

28.98%,

11/19/24

.

202

199

991109351.UG.FTS.B,

28.98%,

11/19/24

.

70

69

991109551.UG.FTS.B,

28.98%,

11/19/24

.

1,433

1,418

991110326.UG.FTS.B,

28.98%,

11/19/24

..

1,982

1,985

991110570.UG.FTS.B,

28.98%,

11/19/24

..

150

151

991110695.UG.FTS.B,

28.98%,

11/19/24

..

682

682

991111244.UG.FTS.B,

28.98%,

11/19/24

..

40

3

991111890.UG.FTS.B,

28.98%,

11/19/24

..

113

113

991112976.UG.FTS.B,

28.98%,

11/19/24

..

144

19

991113123.UG.FTS.B,

28.98%,

11/19/24

..

106

106

991113138.UG.FTS.B,

28.98%,

11/19/24

..

82

82

991113314.UG.FTS.B,

28.98%,

11/19/24

..

271

267

991113372.UG.FTS.B,

28.98%,

11/19/24

..

430

431

991114496.UG.FTS.B,

28.98%,

11/19/24

..

144

145

991114522.UG.FTS.B,

28.98%,

11/19/24

..

502

504

991114717.UG.FTS.B,

28.98%,

11/19/24

..

150

150

991114743.UG.FTS.B,

28.98%,

11/19/24

..

94

94

991115278.UG.FTS.B,

28.98%,

11/19/24

..

712

707

991117632.UG.FTS.B,

28.98%,

11/19/24

..

1,907

1,882

991118407.UG.FTS.B,

28.98%,

11/19/24

..

632

631

991118752.UG.FTS.B,

28.98%,

11/19/24

..

815

104

991119502.UG.FTS.B,

28.98%,

11/19/24

..

854

858

991119530.UG.FTS.B,

28.98%,

11/19/24

..

581

577

991120001.UG.FTS.B,

28.98%,

11/19/24

.

427

429

991121470.UG.FTS.B,

28.98%,

11/19/24

.

111

110

991121655.UG.FTS.B,

28.98%,

11/19/24

.

8

8

991121740.UG.FTS.B,

28.98%,

11/19/24

.

157

155

991122095.UG.FTS.B,

28.98%,

11/19/24

.

423

423

991122280.UG.FTS.B,

28.98%,

11/19/24

.

143

143

991123035.UG.FTS.B,

28.98%,

11/19/24

.

57

56

991123471.UG.FTS.B,

28.98%,

11/19/24

.

199

198

991124198.UG.FTS.B,

28.98%,

11/19/24

.

408

409

991125441.UG.FTS.B,

28.98%,

11/19/24

.

912

916

991127107.UG.FTS.B,

28.98%,

11/19/24

.

256

257

991129216.UG.FTS.B,

28.98%,

11/19/24

.

30

29

991129484.UG.FTS.B,

28.98%,

11/19/24

.

69

69

991130084.UG.FTS.B,

28.98%,

11/19/24

.

107

108

991130482.UG.FTS.B,

28.98%,

11/19/24

.

480

482

991132767.UG.FTS.B,

28.98%,

11/19/24

.

207

206

991132858.UG.FTS.B,

28.98%,

11/19/24

.

90

63

991132991.UG.FTS.B,

28.98%,

11/19/24

.

218

219

991133155.UG.FTS.B,

28.98%,

11/19/24

.

17

17

991134220.UG.FTS.B,

28.98%,

11/19/24

.

171

171

991135049.UG.FTS.B,

28.98%,

11/19/24

.

123

123

991136717.UG.FTS.B,

28.98%,

11/19/24

.

1,239

1,237

991137801.UG.FTS.B,

28.98%,

11/19/24

.

18

17

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

305

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991138625.UG.FTS.B,

28.98%,

11/19/24

.

$

866

$

869

991139458.UG.FTS.B,

28.98%,

11/19/24

.

244

245

991139741.UG.FTS.B,

28.98%,

11/19/24

.

430

430

991139852.UG.FTS.B,

28.98%,

11/19/24

.

53

53

991140740.UG.FTS.B,

28.98%,

11/19/24

.

380

373

991140959.UG.FTS.B,

28.98%,

11/19/24

.

856

843

991141321.UG.FTS.B,

28.98%,

11/19/24

.

259

261

991141961.UG.FTS.B,

28.98%,

11/19/24

.

1,316

1,321

991144190.UG.FTS.B,

28.98%,

11/19/24

.

487

489

991144684.UG.FTS.B,

28.98%,

11/19/24

.

377

379

991146431.UG.FTS.B,

28.98%,

11/19/24

.

101

101

991148491.UG.FTS.B,

28.98%,

11/19/24

.

681

684

991149756.UG.FTS.B,

28.98%,

11/19/24

.

322

319

991150021.UG.FTS.B,

28.98%,

11/19/24

.

149

149

991150543.UG.FTS.B,

28.98%,

11/19/24

.

452

454

991151934.UG.FTS.B,

28.98%,

11/19/24

.

–

–

991156614.UG.FTS.B,

28.98%,

11/19/24

.

857

849

991158513.UG.FTS.B,

28.98%,

11/19/24

.

49

48

991159628.UG.FTS.B,

28.98%,

11/19/24

.

28

28

991160023.UG.FTS.B,

28.98%,

11/19/24

.

357

359

991160191.UG.FTS.B,

28.98%,

11/19/24

.

122

123

991160558.UG.FTS.B,

28.98%,

11/19/24

.

60

(2)

991161065.UG.FTS.B,

28.98%,

11/19/24

.

757

748

991161863.UG.FTS.B,

28.98%,

11/19/24

.

78

78

991162376.UG.FTS.B,

28.98%,

11/19/24

.

132

130

991162623.UG.FTS.B,

28.98%,

11/19/24

.

51

51

991164721.UG.FTS.B,

28.98%,

11/19/24

.

286

281

991165438.UG.FTS.B,

28.98%,

11/19/24

.

33

33

991165953.UG.FTS.B,

28.98%,

11/19/24

.

31

31

991166387.UG.FTS.B,

28.98%,

11/19/24

.

98

98

991166443.UG.FTS.B,

28.98%,

11/19/24

.

84

84

991169759.UG.FTS.B,

28.98%,

11/19/24

.

2,289

2,298

991170561.UG.FTS.B,

28.98%,

11/19/24

.

15

15

991170771.UG.FTS.B,

28.98%,

11/19/24

.

274

275

991171458.UG.FTS.B,

28.98%,

11/19/24

.

207

208

991173637.UG.FTS.B,

28.98%,

11/19/24

.

85

85

991175295.UG.FTS.B,

28.98%,

11/19/24

.

1,904

1,912

991176399.UG.FTS.B,

28.98%,

11/19/24

.

340

341

991177020.UG.FTS.B,

28.98%,

11/19/24

.

379

376

991178286.UG.FTS.B,

28.98%,

11/19/24

.

71

5

991180832.UG.FTS.B,

28.98%,

11/19/24

.

121

122

991181040.UG.FTS.B,

28.98%,

11/19/24

.

1,203

1,208

991183616.UG.FTS.B,

28.98%,

11/19/24

.

670

664

991183986.UG.FTS.B,

28.98%,

11/19/24

.

–

–

991185484.UG.FTS.B,

28.98%,

11/19/24

.

112

112

991187172.UG.FTS.B,

28.98%,

11/19/24

.

64

63

991188088.UG.FTS.B,

28.98%,

11/19/24

.

35

35

991188540.UG.FTS.B,

28.98%,

11/19/24

.

72

72

991190233.UG.FTS.B,

28.98%,

11/19/24

.

47

46

991193230.UG.FTS.B,

28.98%,

11/19/24

.

16

16

991195204.UG.FTS.B,

28.98%,

11/19/24

.

199

197

991196669.UG.FTS.B,

28.98%,

11/19/24

.

254

255

991200084.UG.FTS.B,

28.98%,

11/19/24

.

188

185

991209624.UG.FTS.B,

28.98%,

11/19/24

.

167

164

991211917.UG.FTS.B,

28.98%,

11/19/24

.

66

66

991212005.UG.FTS.B,

28.98%,

11/19/24

.

94

94

991213383.UG.FTS.B,

28.98%,

11/19/24

.

137

137

991213749.UG.FTS.B,

28.98%,

11/19/24

.

122

121

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991215309.UG.FTS.B,

28.98%,

11/19/24

.

$

183

$

183

991215718.UG.FTS.B,

28.98%,

11/19/24

.

70

70

991217435.UG.FTS.B,

28.98%,

11/19/24

.

338

340

991218732.UG.FTS.B,

28.98%,

11/19/24

.

164

162

991222252.UG.FTS.B,

28.98%,

11/19/24

.

186

184

991222494.UG.FTS.B,

28.98%,

11/19/24

.

167

167

991222501.UG.FTS.B,

28.98%,

11/19/24

.

97

96

991222930.UG.FTS.B,

28.98%,

11/19/24

.

295

296

991224492.UG.FTS.B,

28.98%,

11/19/24

.

1,267

1,255

991225580.UG.FTS.B,

28.98%,

11/19/24

.

88

88

991230177.UG.FTS.B,

28.98%,

11/19/24

.

64

63

991231640.UG.FTS.B,

28.98%,

11/19/24

.

424

424

991237137.UG.FTS.B,

28.98%,

11/19/24

.

39

38

991239328.UG.FTS.B,

28.98%,

11/19/24

.

364

357

991245677.UG.FTS.B,

28.98%,

11/19/24

.

110

109

991247374.UG.FTS.B,

28.98%,

11/19/24

.

1,012

1,002

991249550.UG.FTS.B,

28.98%,

11/19/24

.

10

10

991249570.UG.FTS.B,

28.98%,

11/19/24

.

134

9

991251084.UG.FTS.B,

28.98%,

11/19/24

.

152

150

991254301.UG.FTS.B,

28.98%,

11/19/24

.

60

60

991254971.UG.FTS.B,

28.98%,

11/19/24

.

16

16

991257000.UG.FTS.B,

28.98%,

11/19/24

.

17

16

991259083.UG.FTS.B,

28.98%,

11/19/24

.

149

147

991259402.UG.FTS.B,

28.98%,

11/19/24

.

110

109

991260177.UG.FTS.B,

28.98%,

11/19/24

.

125

8

991260584.UG.FTS.B,

28.98%,

11/19/24

.

1,010

1,000

991263078.UG.FTS.B,

28.98%,

11/19/24

.

40

40

991264197.UG.FTS.B,

28.98%,

11/19/24

.

132

130

991265366.UG.FTS.B,

28.98%,

11/19/24

.

76

76

991266520.UG.FTS.B,

28.98%,

11/19/24

.

141

139

991267258.UG.FTS.B,

28.98%,

11/19/24

.

731

723

991267944.UG.FTS.B,

28.98%,

11/19/24

.

73

73

991267970.UG.FTS.B,

28.98%,

11/19/24

.

252

250

991268827.UG.FTS.B,

28.98%,

11/19/24

.

420

414

991269450.UG.FTS.B,

28.98%,

11/19/24

.

202

200

991269614.UG.FTS.B,

28.98%,

11/19/24

.

504

499

991270128.UG.FTS.B,

28.98%,

11/19/24

.

111

110

991272220.UG.FTS.B,

28.98%,

11/19/24

.

229

227

991273900.UG.FTS.B,

28.98%,

11/19/24

.

168

166

991274553.UG.FTS.B,

28.98%,

11/19/24

.

182

180

991275453.UG.FTS.B,

28.98%,

11/19/24

.

417

413

991276025.UG.FTS.B,

28.98%,

11/19/24

.

77

77

991276906.UG.FTS.B,

28.98%,

11/19/24

.

315

312

991279318.UG.FTS.B,

28.98%,

11/19/24

.

306

304

991281287.UG.FTS.B,

28.98%,

11/19/24

.

19

19

991282335.UG.FTS.B,

28.98%,

11/19/24

.

678

671

991285040.UG.FTS.B,

28.98%,

11/19/24

.

130

128

991285798.UG.FTS.B,

28.98%,

11/19/24

.

420

416

991285978.UG.FTS.B,

28.98%,

11/19/24

.

349

345

991286250.UG.FTS.B,

28.98%,

11/19/24

.

98

7

991287179.UG.FTS.B,

28.98%,

11/19/24

.

39

38

991288892.UG.FTS.B,

28.98%,

11/19/24

.

135

133

991291090.UG.FTS.B,

28.98%,

11/19/24

.

162

160

991291690.UG.FTS.B,

28.98%,

11/19/24

.

12

12

991077976.UG.FTS.B,

29.49%,

11/19/24

.

389

391

991078070.UG.FTS.B,

29.49%,

11/19/24

.

143

31

991079459.UG.FTS.B,

29.49%,

11/19/24

.

966

972

991079567.UG.FTS.B,

29.49%,

11/19/24

.

135

134

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

306

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991079913.UG.FTS.B,

29.49%,

11/19/24

.

$

22

$

22

991080090.UG.FTS.B,

29.49%,

11/19/24

.

55

54

991080172.UG.FTS.B,

29.49%,

11/19/24

.

126

127

991080329.UG.FTS.B,

29.49%,

11/19/24

.

160

160

991080461.UG.FTS.B,

29.49%,

11/19/24

.

53

53

991080539.UG.FTS.B,

29.49%,

11/19/24

.

84

6

991080756.UG.FTS.B,

29.49%,

11/19/24

.

80

79

991080785.UG.FTS.B,

29.49%,

11/19/24

.

320

208

991081477.UG.FTS.B,

29.49%,

11/19/24

.

170

171

991081962.UG.FTS.B,

29.49%,

11/19/24

.

255

255

991082270.UG.FTS.B,

29.49%,

11/19/24

.

12

12

991082750.UG.FTS.B,

29.49%,

11/19/24

.

403

400

991082865.UG.FTS.B,

29.49%,

11/19/24

.

838

57

991083001.UG.FTS.B,

29.49%,

11/19/24

.

254

18

991083076.UG.FTS.B,

29.49%,

11/19/24

.

31

31

991083150.UG.FTS.B,

29.49%,

11/19/24

.

138

136

991083763.UG.FTS.B,

29.49%,

11/19/24

.

46

46

991083796.UG.FTS.B,

29.49%,

11/19/24

.

266

266

991083819.UG.FTS.B,

29.49%,

11/19/24

.

428

31

991083864.UG.FTS.B,

29.49%,

11/19/24

.

68

67

991083975.UG.FTS.B,

29.49%,

11/19/24

.

186

187

991084120.UG.FTS.B,

29.49%,

11/19/24

.

686

682

991084551.UG.FTS.B,

29.49%,

11/19/24

.

87

87

991084869.UG.FTS.B,

29.49%,

11/19/24

.

25

25

991085340.UG.FTS.B,

29.49%,

11/19/24

.

94

94

991085401.UG.FTS.B,

29.49%,

11/19/24

.

106

106

991085447.UG.FTS.B,

29.49%,

11/19/24

.

35

34

991085755.UG.FTS.B,

29.49%,

11/19/24

.

146

145

991086030.UG.FTS.B,

29.49%,

11/19/24

.

726

717

991086372.UG.FTS.B,

29.49%,

11/19/24

.

86

0

991086618.UG.FTS.B,

29.49%,

11/19/24

.

195

196

991086865.UG.FTS.B,

29.49%,

11/19/24

.

126

127

991086904.UG.FTS.B,

29.49%,

11/19/24

.

448

445

991087274.UG.FTS.B,

29.49%,

11/19/24

.

3,008

3,022

991088485.UG.FTS.B,

29.49%,

11/19/24

.

127

128

991088510.UG.FTS.B,

29.49%,

11/19/24

.

303

304

991088834.UG.FTS.B,

29.49%,

11/19/24

.

312

70

991088895.UG.FTS.B,

29.49%,

11/19/24

.

24

23

991089471.UG.FTS.B,

29.49%,

11/19/24

.

358

360

991091761.UG.FTS.B,

29.49%,

11/19/24

.

275

276

991091785.UG.FTS.B,

29.49%,

11/19/24

.

28

28

991091799.UG.FTS.B,

29.49%,

11/19/24

.

101

99

991092060.UG.FTS.B,

29.49%,

11/19/24

.

105

106

991092186.UG.FTS.B,

29.49%,

11/19/24

.

37

37

991096428.UG.FTS.B,

29.49%,

11/19/24

.

360

361

991096842.UG.FTS.B,

29.49%,

11/19/24

.

237

237

991096952.UG.FTS.B,

29.49%,

11/19/24

.

111

112

991097752.UG.FTS.B,

29.49%,

11/19/24

.

149

149

991098909.UG.FTS.B,

29.49%,

11/19/24

.

828

833

991099491.UG.FTS.B,

29.49%,

11/19/24

.

315

206

991099687.UG.FTS.B,

29.49%,

11/19/24

.

1,094

1,088

991100113.UG.FTS.B,

29.49%,

11/19/24

..

174

175

991100147.UG.FTS.B,

29.49%,

11/19/24

.

18

18

991100222.UG.FTS.B,

29.49%,

11/19/24

.

95

95

991100252.UG.FTS.B,

29.49%,

11/19/24

.

316

311

991100307.UG.FTS.B,

29.49%,

11/19/24

.

70

69

991100927.UG.FTS.B,

29.49%,

11/19/24

.

80

5

991102485.UG.FTS.B,

29.49%,

11/19/24

.

1,658

1,085

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991102829.UG.FTS.B,

29.49%,

11/19/24

.

$

187

$

185

991103399.UG.FTS.B,

29.49%,

11/19/24

.

37

36

991103770.UG.FTS.B,

29.49%,

11/19/24

.

162

161

991103901.UG.FTS.B,

29.49%,

11/19/24

.

464

466

991104021.UG.FTS.B,

29.49%,

11/19/24

.

708

698

991104178.UG.FTS.B,

29.49%,

11/19/24

.

2,024

2,033

991104280.UG.FTS.B,

29.49%,

11/19/24

.

167

166

991104410.UG.FTS.B,

29.49%,

11/19/24

.

1,112

1,100

991104642.UG.FTS.B,

29.49%,

11/19/24

.

17

17

991104664.UG.FTS.B,

29.49%,

11/19/24

.

11

11

991104747.UG.FTS.B,

29.49%,

11/19/24

.

46

46

991105424.UG.FTS.B,

29.49%,

11/19/24

.

339

334

991106337.UG.FTS.B,

29.49%,

11/19/24

.

234

235

991106684.UG.FTS.B,

29.49%,

11/19/24

.

232

233

991106913.UG.FTS.B,

29.49%,

11/19/24

.

184

13

991107545.UG.FTS.B,

29.49%,

11/19/24

.

1,335

1,342

991107903.UG.FTS.B,

29.49%,

11/19/24

.

5,066

346

991107915.UG.FTS.B,

29.49%,

11/19/24

.

91

6

991108108.UG.FTS.B,

29.49%,

11/19/24

.

118

117

991109379.UG.FTS.B,

29.49%,

11/19/24

.

411

411

991109457.UG.FTS.B,

29.49%,

11/19/24

.

390

392

991109475.UG.FTS.B,

29.49%,

11/19/24

.

198

199

991109638.UG.FTS.B,

29.49%,

11/19/24

.

199

200

991110257.UG.FTS.B,

29.49%,

11/19/24

..

11

10

991110529.UG.FTS.B,

29.49%,

11/19/24

..

288

290

991111418.UG.FTS.B,

29.49%,

11/19/24

..

651

655

991111844.UG.FTS.B,

29.49%,

11/19/24

..

48

7

991113882.UG.FTS.B,

29.49%,

11/19/24

..

324

325

991114083.UG.FTS.B,

29.49%,

11/19/24

..

121

(3)

991114314.UG.FTS.B,

29.49%,

11/19/24

..

498

500

991114749.UG.FTS.B,

29.49%,

11/19/24

..

551

552

991115396.UG.FTS.B,

29.49%,

11/19/24

..

34

34

991115531.UG.FTS.B,

29.49%,

11/19/24

..

639

44

991115976.UG.FTS.B,

29.49%,

11/19/24

..

143

10

991116328.UG.FTS.B,

29.49%,

11/19/24

..

347

24

991116419.UG.FTS.B,

29.49%,

11/19/24

..

15

15

991118486.UG.FTS.B,

29.49%,

11/19/24

..

579

40

991121861.UG.FTS.B,

29.49%,

11/19/24

.

158

159

991121974.UG.FTS.B,

29.49%,

11/19/24

.

19

17

991122169.UG.FTS.B,

29.49%,

11/19/24

.

72

72

991122950.UG.FTS.B,

29.49%,

11/19/24

.

1,791

1,788

991123267.UG.FTS.B,

29.49%,

11/19/24

.

445

438

991123520.UG.FTS.B,

29.49%,

11/19/24

.

69

69

991123545.UG.FTS.B,

29.49%,

11/19/24

.

746

745

991125371.UG.FTS.B,

29.49%,

11/19/24

.

279

281

991125628.UG.FTS.B,

29.49%,

11/19/24

.

1,167

1,175

991126605.UG.FTS.B,

29.49%,

11/19/24

.

–

–

991126799.UG.FTS.B,

29.49%,

11/19/24

.

460

61

991127004.UG.FTS.B,

29.49%,

11/19/24

.

413

409

991127774.UG.FTS.B,

29.49%,

11/19/24

.

776

772

991128207.UG.FTS.B,

29.49%,

11/19/24

.

2,139

2,154

991128304.UG.FTS.B,

29.49%,

11/19/24

.

246

247

991128682.UG.FTS.B,

29.49%,

11/19/24

.

1,022

1,020

991129529.UG.FTS.B,

29.49%,

11/19/24

.

175

23

991129538.UG.FTS.B,

29.49%,

11/19/24

.

50

49

991130441.UG.FTS.B,

29.49%,

11/19/24

.

152

153

991130981.UG.FTS.B,

29.49%,

11/19/24

.

114

114

991131704.UG.FTS.B,

29.49%,

11/19/24

.

85

83

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

307

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991133962.UG.FTS.B,

29.49%,

11/19/24

.

$

102

$

103

991134153.UG.FTS.B,

29.49%,

11/19/24

.

734

51

991137718.UG.FTS.B,

29.49%,

11/19/24

.

256

257

991138434.UG.FTS.B,

29.49%,

11/19/24

.

310

311

991138606.UG.FTS.B,

29.49%,

11/19/24

.

103

104

991139198.UG.FTS.B,

29.49%,

11/19/24

.

434

436

991139342.UG.FTS.B,

29.49%,

11/19/24

.

14

14

991139453.UG.FTS.B,

29.49%,

11/19/24

.

618

622

991139517.UG.FTS.B,

29.49%,

11/19/24

.

311

21

991140595.UG.FTS.B,

29.49%,

11/19/24

.

106

7

991141005.UG.FTS.B,

29.49%,

11/19/24

.

89

63

991145095.UG.FTS.B,

29.49%,

11/19/24

.

97

98

991145578.UG.FTS.B,

29.49%,

11/19/24

.

64

63

991146154.UG.FTS.B,

29.49%,

11/19/24

.

582

575

991146377.UG.FTS.B,

29.49%,

11/19/24

.

20

4

991148151.UG.FTS.B,

29.49%,

11/19/24

.

106

106

991148238.UG.FTS.B,

29.49%,

11/19/24

.

91

(3)

991149232.UG.FTS.B,

29.49%,

11/19/24

.

597

594

991149447.UG.FTS.B,

29.49%,

11/19/24

.

3,482

3,451

991149614.UG.FTS.B,

29.49%,

11/19/24

.

426

426

991149969.UG.FTS.B,

29.49%,

11/19/24

.

375

372

991150646.UG.FTS.B,

29.49%,

11/19/24

.

56

44

991151527.UG.FTS.B,

29.49%,

11/19/24

.

648

651

991151612.UG.FTS.B,

29.49%,

11/19/24

.

126

126

991152704.UG.FTS.B,

29.49%,

11/19/24

.

35

35

991153991.UG.FTS.B,

29.49%,

11/19/24

.

155

155

991154422.UG.FTS.B,

29.49%,

11/19/24

.

207

208

991154641.UG.FTS.B,

29.49%,

11/19/24

.

343

345

991155188.UG.FTS.B,

29.49%,

11/19/24

.

511

500

991155437.UG.FTS.B,

29.49%,

11/19/24

.

166

167

991155451.UG.FTS.B,

29.49%,

11/19/24

.

400

28

991156120.UG.FTS.B,

29.49%,

11/19/24

.

202

203

991157117.UG.FTS.B,

29.49%,

11/19/24

..

247

245

991157383.UG.FTS.B,

29.49%,

11/19/24

.

–

–

991158169.UG.FTS.B,

29.49%,

11/19/24

.

23

23

991159743.UG.FTS.B,

29.49%,

11/19/24

.

70

10

991162533.UG.FTS.B,

29.49%,

11/19/24

.

533

533

991162684.UG.FTS.B,

29.49%,

11/19/24

.

54

44

991163170.UG.FTS.B,

29.49%,

11/19/24

.

109

108

991164584.UG.FTS.B,

29.49%,

11/19/24

.

59

58

991165135.UG.FTS.B,

29.49%,

11/19/24

.

265

180

991165143.UG.FTS.B,

29.49%,

11/19/24

.

57

57

991165290.UG.FTS.B,

29.49%,

11/19/24

.

134

90

991167820.UG.FTS.B,

29.49%,

11/19/24

.

339

341

991168037.UG.FTS.B,

29.49%,

11/19/24

.

233

234

991169345.UG.FTS.B,

29.49%,

11/19/24

.

255

254

991169755.UG.FTS.B,

29.49%,

11/19/24

.

58

57

991169822.UG.FTS.B,

29.49%,

11/19/24

.

891

887

991170256.UG.FTS.B,

29.49%,

11/19/24

.

172

170

991170350.UG.FTS.B,

29.49%,

11/19/24

.

45

45

991170624.UG.FTS.B,

29.49%,

11/19/24

.

1,103

1,103

991173735.UG.FTS.B,

29.49%,

11/19/24

.

352

349

991175055.UG.FTS.B,

29.49%,

11/19/24

.

8

8

991175544.UG.FTS.B,

29.49%,

11/19/24

.

44

44

991176481.UG.FTS.B,

29.49%,

11/19/24

.

109

7

991176804.UG.FTS.B,

29.49%,

11/19/24

.

5,100

5,065

991176843.UG.FTS.B,

29.49%,

11/19/24

.

2,014

2,023

991178061.UG.FTS.B,

29.49%,

11/19/24

.

321

323

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991178097.UG.FTS.B,

29.49%,

11/19/24

.

$

37

$

6

991178640.UG.FTS.B,

29.49%,

11/19/24

.

5

5

991181294.UG.FTS.B,

29.49%,

11/19/24

.

75

74

991182291.UG.FTS.B,

29.49%,

11/19/24

.

535

537

991185200.UG.FTS.B,

29.49%,

11/19/24

.

0

0

991186425.UG.FTS.B,

29.49%,

11/19/24

.

263

261

991188417.UG.FTS.B,

29.49%,

11/19/24

.

92

91

991188709.UG.FTS.B,

29.49%,

11/19/24

.

271

272

991188840.UG.FTS.B,

29.49%,

11/19/24

.

159

105

991189063.UG.FTS.B,

29.49%,

11/19/24

.

196

197

991191696.UG.FTS.B,

29.49%,

11/19/24

.

355

356

991191984.UG.FTS.B,

29.49%,

11/19/24

.

276

278

991192286.UG.FTS.B,

29.49%,

11/19/24

.

809

796

991192507.UG.FTS.B,

29.49%,

11/19/24

.

72

72

991193402.UG.FTS.B,

29.49%,

11/19/24

.

80

80

991197470.UG.FTS.B,

29.49%,

11/19/24

.

944

64

991199250.UG.FTS.B,

29.49%,

11/19/24

.

123

124

991199808.UG.FTS.B,

29.49%,

11/19/24

.

37

37

991201543.UG.FTS.B,

29.49%,

11/19/24

.

29

29

991202249.UG.FTS.B,

29.49%,

11/19/24

.

45

45

991203023.UG.FTS.B,

29.49%,

11/19/24

.

68

68

991203206.UG.FTS.B,

29.49%,

11/19/24

.

35

30

991206154.UG.FTS.B,

29.49%,

11/19/24

.

82

82

991206586.UG.FTS.B,

29.49%,

11/19/24

.

203

150

991211016.UG.FTS.B,

29.49%,

11/19/24

.

242

243

991211138.UG.FTS.B,

29.49%,

11/19/24

..

223

224

991215779.UG.FTS.B,

29.49%,

11/19/24

.

138

136

991216662.UG.FTS.B,

29.49%,

11/19/24

.

278

21

991216948.UG.FTS.B,

29.49%,

11/19/24

.

78

78

991216952.UG.FTS.B,

29.49%,

11/19/24

.

3,906

3,906

991219562.UG.FTS.B,

29.49%,

11/19/24

.

46

46

991221999.UG.FTS.B,

29.49%,

11/19/24

.

110

110

991222273.UG.FTS.B,

29.49%,

11/19/24

.

38

6

991223456.UG.FTS.B,

29.49%,

11/19/24

.

52

51

991225026.UG.FTS.B,

29.49%,

11/19/24

.

102

101

991225720.UG.FTS.B,

29.49%,

11/19/24

.

22

22

991227036.UG.FTS.B,

29.49%,

11/19/24

.

44

43

991227057.UG.FTS.B,

29.49%,

11/19/24

.

65

65

991229419.UG.FTS.B,

29.49%,

11/19/24

.

646

639

991232872.UG.FTS.B,

29.49%,

11/19/24

.

804

794

991237193.UG.FTS.B,

29.49%,

11/19/24

.

3

3

991239313.UG.FTS.B,

29.49%,

11/19/24

.

257

254

991242660.UG.FTS.B,

29.49%,

11/19/24

.

607

610

991242783.UG.FTS.B,

29.49%,

11/19/24

.

430

426

991243377.UG.FTS.B,

29.49%,

11/19/24

.

3

3

991243866.UG.FTS.B,

29.49%,

11/19/24

.

169

167

991245370.UG.FTS.B,

29.49%,

11/19/24

.

14

14

991245459.UG.FTS.B,

29.49%,

11/19/24

.

148

10

991247353.UG.FTS.B,

29.49%,

11/19/24

.

17

17

991247672.UG.FTS.B,

29.49%,

11/19/24

.

103

102

991250064.UG.FTS.B,

29.49%,

11/19/24

.

232

16

991250108.UG.FTS.B,

29.49%,

11/19/24

.

52

52

991250747.UG.FTS.B,

29.49%,

11/19/24

.

22

20

991254871.UG.FTS.B,

29.49%,

11/19/24

.

189

187

991256783.UG.FTS.B,

29.49%,

11/19/24

.

93

93

991257388.UG.FTS.B,

29.49%,

11/19/24

.

35

35

991258723.UG.FTS.B,

29.49%,

11/19/24

.

180

177

991258924.UG.FTS.B,

29.49%,

11/19/24

.

439

435

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

308

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991259101.UG.FTS.B,

29.49%,

11/19/24

.

$

133

$

(2)

991259761.UG.FTS.B,

29.49%,

11/19/24

.

210

208

991259901.UG.FTS.B,

29.49%,

11/19/24

.

–

–

991259944.UG.FTS.B,

29.49%,

11/19/24

.

111

109

991260193.UG.FTS.B,

29.49%,

11/19/24

.

65

65

991260828.UG.FTS.B,

29.49%,

11/19/24

.

68

68

991261318.UG.FTS.B,

29.49%,

11/19/24

.

53

53

991261545.UG.FTS.B,

29.49%,

11/19/24

.

135

9

991261749.UG.FTS.B,

29.49%,

11/19/24

.

173

171

991264479.UG.FTS.B,

29.49%,

11/19/24

.

300

296

991267836.UG.FTS.B,

29.49%,

11/19/24

.

170

168

991268203.UG.FTS.B,

29.49%,

11/19/24

.

379

375

991268346.UG.FTS.B,

29.49%,

11/19/24

.

236

233

991268523.UG.FTS.B,

29.49%,

11/19/24

.

49

4

991269515.UG.FTS.B,

29.49%,

11/19/24

.

2,157

2,135

991269656.UG.FTS.B,

29.49%,

11/19/24

.

77

77

991269760.UG.FTS.B,

29.49%,

11/19/24

.

92

93

991269882.UG.FTS.B,

29.49%,

11/19/24

.

38

38

991270498.UG.FTS.B,

29.49%,

11/19/24

.

93

93

991271643.UG.FTS.B,

29.49%,

11/19/24

.

85

85

991274063.UG.FTS.B,

29.49%,

11/19/24

.

215

210

991275971.UG.FTS.B,

29.49%,

11/19/24

.

1,046

1,050

991277369.UG.FTS.B,

29.49%,

11/19/24

.

1,652

1,623

991277632.UG.FTS.B,

29.49%,

11/19/24

.

96

7

991278085.UG.FTS.B,

29.49%,

11/19/24

.

673

664

991278573.UG.FTS.B,

29.49%,

11/19/24

.

429

423

991279591.UG.FTS.B,

29.49%,

11/19/24

.

95

95

991279834.UG.FTS.B,

29.49%,

11/19/24

.

107

7

991279938.UG.FTS.B,

29.49%,

11/19/24

.

96

65

991280490.UG.FTS.B,

29.49%,

11/19/24

.

114

75

991280631.UG.FTS.B,

29.49%,

11/19/24

.

71

70

991284091.UG.FTS.B,

29.49%,

11/19/24

.

100

68

991285559.UG.FTS.B,

29.49%,

11/19/24

.

235

230

991285961.UG.FTS.B,

29.49%,

11/19/24

.

330

327

991288785.UG.FTS.B,

29.49%,

11/19/24

.

222

220

991290104.UG.FTS.B,

29.49%,

11/19/24

.

70

68

991290696.UG.FTS.B,

29.49%,

11/19/24

.

48

48

991292447.UG.FTS.B,

29.49%,

11/19/24

.

144

20

991103327.UG.FTS.B,

Zero

Cpn,

11/20/24

167

–

991107849.UG.FTS.B,

Zero

Cpn,

11/20/24

49

–

991109519.UG.FTS.B,

Zero

Cpn,

11/20/24

250

–

991111366.UG.FTS.B,

Zero

Cpn,

11/20/24

33

–

991126660.UG.FTS.B,

Zero

Cpn,

11/20/24

482

–

991138973.UG.FTS.B,

Zero

Cpn,

11/20/24

136

–

991142739.UG.FTS.B,

Zero

Cpn,

11/20/24

99

–

991148309.UG.FTS.B,

Zero

Cpn,

11/20/24

450

–

991149441.UG.FTS.B,

Zero

Cpn,

11/20/24

298

20

991156616.UG.FTS.B,

Zero

Cpn,

11/20/24

63

–

991162775.UG.FTS.B,

Zero

Cpn,

11/20/24

52

–

991209159.UG.FTS.B,

Zero

Cpn,

11/20/24

138

–

991232303.UG.FTS.B,

Zero

Cpn,

11/20/24

150

–

991276002.UG.FTS.B,

Zero

Cpn,

11/20/24

1,035

–

991084491.UG.FTS.B,

18.97%,

11/20/24

.

753

747

991085637.UG.FTS.B,

18.97%,

11/20/24

.

–

–

991086006.UG.FTS.B,

18.97%,

11/20/24

.

799

789

991091001.UG.FTS.B,

18.97%,

11/20/24

.

638

630

991109789.UG.FTS.B,

18.97%,

11/20/24

.

246

243

991131248.UG.FTS.B,

18.97%,

11/20/24

.

383

378

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991212667.UG.FTS.B,

18.97%,

11/20/24

.

$

1,707

$

1,685

991243987.UG.FTS.B,

18.97%,

11/20/24

.

5,753

5,652

991277364.UG.FTS.B,

18.97%,

11/20/24

.

2,053

2,017

991086328.UG.FTS.B,

19.21%,

11/20/24

.

–

–

991168973.UG.FTS.B,

19.21%,

11/20/24

.

334

329

991191415.UG.FTS.B,

19.21%,

11/20/24

.

–

–

991131525.UG.FTS.B,

19.8%,

11/20/24

..

–

–

991135554.UG.FTS.B,

19.8%,

11/20/24

..

370

364

991138152.UG.FTS.B,

19.8%,

11/20/24

..

444

438

991154367.UG.FTS.B,

19.8%,

11/20/24

..

108

7

991191424.UG.FTS.B,

19.8%,

11/20/24

..

120

118

991204096.UG.FTS.B,

19.8%,

11/20/24

..

664

650

991204791.UG.FTS.B,

19.8%,

11/20/24

..

153

151

991212992.UG.FTS.B,

19.8%,

11/20/24

..

67

66

991224721.UG.FTS.B,

19.8%,

11/20/24

..

476

466

991225567.UG.FTS.B,

19.8%,

11/20/24

..

249

246

991267411.UG.FTS.B,

19.8%,

11/20/24

..

268

262

991102000.UG.FTS.B,

19.99%,

11/20/24

.

459

461

991105236.UG.FTS.B,

19.99%,

11/20/24

.

34

34

991105915.UG.FTS.B,

19.99%,

11/20/24

.

208

209

991108309.UG.FTS.B,

19.99%,

11/20/24

.

322

323

991108487.UG.FTS.B,

19.99%,

11/20/24

.

389

391

991109636.UG.FTS.B,

19.99%,

11/20/24

.

151

152

991112938.UG.FTS.B,

19.99%,

11/20/24

..

241

240

991133366.UG.FTS.B,

19.99%,

11/20/24

.

254

49

991138371.UG.FTS.B,

19.99%,

11/20/24

.

6

6

991140523.UG.FTS.B,

19.99%,

11/20/24

.

38

32

991158306.UG.FTS.B,

19.99%,

11/20/24

.

288

289

991171504.UG.FTS.B,

19.99%,

11/20/24

.

441

437

991175975.UG.FTS.B,

19.99%,

11/20/24

.

174

173

991181647.UG.FTS.B,

19.99%,

11/20/24

.

122

122

991188505.UG.FTS.B,

19.99%,

11/20/24

.

212

213

991210688.UG.FTS.B,

19.99%,

11/20/24

.

99

99

991218218.UG.FTS.B,

19.99%,

11/20/24

.

825

830

991223074.UG.FTS.B,

19.99%,

11/20/24

.

69

69

991235625.UG.FTS.B,

19.99%,

11/20/24

.

98

97

991237192.UG.FTS.B,

19.99%,

11/20/24

.

1,441

1,429

991263506.UG.FTS.B,

19.99%,

11/20/24

.

252

250

991263955.UG.FTS.B,

19.99%,

11/20/24

.

115

114

991273259.UG.FTS.B,

19.99%,

11/20/24

.

40

40

991084611.UG.FTS.B,

20.46%,

11/20/24

.

706

452

991085501.UG.FTS.B,

20.46%,

11/20/24

.

1,103

1,088

991100911.UG.FTS.B,

20.46%,

11/20/24

..

491

484

991102814.UG.FTS.B,

20.46%,

11/20/24

.

246

242

991112817.UG.FTS.B,

20.46%,

11/20/24

..

3,256

3,207

991125492.UG.FTS.B,

20.46%,

11/20/24

.

667

658

991152580.UG.FTS.B,

20.46%,

11/20/24

.

223

16

991160910.UG.FTS.B,

20.46%,

11/20/24

.

177

174

991166153.UG.FTS.B,

20.46%,

11/20/24

.

119

8

991172635.UG.FTS.B,

20.46%,

11/20/24

.

57

56

991204576.UG.FTS.B,

20.46%,

11/20/24

.

227

224

991231719.UG.FTS.B,

20.46%,

11/20/24

.

300

21

991101192.UG.FTS.B,

20.49%,

11/20/24

..

753

751

991086581.UG.FTS.B,

20.97%,

11/20/24

.

190

189

991086619.UG.FTS.B,

20.97%,

11/20/24

.

4,558

4,492

991124519.UG.FTS.B,

20.97%,

11/20/24

.

1,455

1,423

991171843.UG.FTS.B,

20.97%,

11/20/24

.

163

161

991293234.UG.FTS.B,

20.97%,

11/20/24

.

262

256

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

309

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991084630.UG.FTS.B,

21.46%,

11/20/24

.

$

1,185

$

1,166

991085535.UG.FTS.B,

21.46%,

11/20/24

.

394

388

991103256.UG.FTS.B,

21.46%,

11/20/24

.

279

274

991114451.UG.FTS.B,

21.46%,

11/20/24

..

1,001

984

991125041.UG.FTS.B,

21.46%,

11/20/24

.

189

186

991133819.UG.FTS.B,

21.46%,

11/20/24

.

155

153

991159228.UG.FTS.B,

21.46%,

11/20/24

.

202

197

991200919.UG.FTS.B,

21.46%,

11/20/24

.

127

124

991215411.UG.FTS.B,

21.46%,

11/20/24

.

457

449

991261262.UG.FTS.B,

21.46%,

11/20/24

.

72

71

991114162.UG.FTS.B,

21.98%,

11/20/24

..

751

737

991143724.UG.FTS.B,

21.98%,

11/20/24

.

875

858

991235930.UG.FTS.B,

21.98%,

11/20/24

.

57

56

991290759.UG.FTS.B,

21.98%,

11/20/24

.

18

18

991083736.UG.FTS.B,

22.97%,

11/20/24

.

152

150

991091718.UG.FTS.B,

22.97%,

11/20/24

.

56

55

991097795.UG.FTS.B,

22.97%,

11/20/24

.

15

15

991152530.UG.FTS.B,

22.97%,

11/20/24

.

81

79

991153663.UG.FTS.B,

22.97%,

11/20/24

.

88

11

991173310.UG.FTS.B,

22.97%,

11/20/24

.

103

101

991214628.UG.FTS.B,

22.97%,

11/20/24

.

1,606

1,577

991102134.UG.FTS.B,

23.95%,

11/20/24

.

2,524

2,477

991151893.UG.FTS.B,

23.95%,

11/20/24

.

573

572

991234997.UG.FTS.B,

23.95%,

11/20/24

.

30

30

991089655.UG.FTS.B,

25.94%,

11/20/24

.

203

198

991097600.UG.FTS.B,

25.95%,

11/20/24

.

390

27

991130568.UG.FTS.B,

25.95%,

11/20/24

.

100

97

991160596.UG.FTS.B,

25.95%,

11/20/24

.

584

75

991276293.UG.FTS.B,

25.95%,

11/20/24

.

415

403

991128669.UG.FTS.B,

26.94%,

11/20/24

.

510

501

991169845.UG.FTS.B,

26.94%,

11/20/24

.

423

414

991177149.UG.FTS.B,

26.94%,

11/20/24

.

2,287

1,462

991101004.UG.FTS.B,

27.99%,

11/20/24

.

33

33

991108689.UG.FTS.B,

27.99%,

11/20/24

.

190

191

991126391.UG.FTS.B,

27.99%,

11/20/24

.

109

108

991137301.UG.FTS.B,

27.99%,

11/20/24

.

265

263

991275480.UG.FTS.B,

27.99%,

11/20/24

.

1,556

1,541

991098774.UG.FTS.B,

28.98%,

11/20/24

.

98

98

991099607.UG.FTS.B,

28.98%,

11/20/24

.

528

530

991100214.UG.FTS.B,

28.98%,

11/20/24

.

191

192

991100425.UG.FTS.B,

28.98%,

11/20/24

.

127

(5)

991100430.UG.FTS.B,

28.98%,

11/20/24

.

158

156

991101585.UG.FTS.B,

28.98%,

11/20/24

.

324

324

991102810.UG.FTS.B,

28.98%,

11/20/24

.

325

(3)

991103258.UG.FTS.B,

28.98%,

11/20/24

.

149

150

991103289.UG.FTS.B,

28.98%,

11/20/24

.

155

156

991103833.UG.FTS.B,

28.98%,

11/20/24

.

456

448

991104390.UG.FTS.B,

28.98%,

11/20/24

.

427

419

991104460.UG.FTS.B,

28.98%,

11/20/24

.

154

154

991104968.UG.FTS.B,

28.98%,

11/20/24

.

257

(3)

991105295.UG.FTS.B,

28.98%,

11/20/24

.

810

802

991107307.UG.FTS.B,

28.98%,

11/20/24

.

114

114

991108289.UG.FTS.B,

28.98%,

11/20/24

.

2,110

2,118

991110958.UG.FTS.B,

28.98%,

11/20/24

..

171

172

991114659.UG.FTS.B,

28.98%,

11/20/24

..

561

560

991114737.UG.FTS.B,

28.98%,

11/20/24

..

170

169

991115050.UG.FTS.B,

28.98%,

11/20/24

..

269

266

991115150.UG.FTS.B,

28.98%,

11/20/24

..

239

240

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991116908.UG.FTS.B,

28.98%,

11/20/24

..

$

526

$

36

991118039.UG.FTS.B,

28.98%,

11/20/24

..

294

289

991118707.UG.FTS.B,

28.98%,

11/20/24

..

158

157

991122709.UG.FTS.B,

28.98%,

11/20/24

.

171

172

991122834.UG.FTS.B,

28.98%,

11/20/24

.

157

158

991123308.UG.FTS.B,

28.98%,

11/20/24

.

132

81

991123392.UG.FTS.B,

28.98%,

11/20/24

.

301

301

991125422.UG.FTS.B,

28.98%,

11/20/24

.

1,230

1,236

991125529.UG.FTS.B,

28.98%,

11/20/24

.

1,008

1,013

991126124.UG.FTS.B,

28.98%,

11/20/24

.

443

445

991126597.UG.FTS.B,

28.98%,

11/20/24

.

103

102

991126868.UG.FTS.B,

28.98%,

11/20/24

.

764

764

991128015.UG.FTS.B,

28.98%,

11/20/24

.

57

57

991129586.UG.FTS.B,

28.98%,

11/20/24

.

108

108

991129907.UG.FTS.B,

28.98%,

11/20/24

.

898

901

991130160.UG.FTS.B,

28.98%,

11/20/24

.

180

180

991130170.UG.FTS.B,

28.98%,

11/20/24

.

71

71

991130514.UG.FTS.B,

28.98%,

11/20/24

.

669

47

991131281.UG.FTS.B,

28.98%,

11/20/24

.

56

56

991133560.UG.FTS.B,

28.98%,

11/20/24

.

132

133

991133721.UG.FTS.B,

28.98%,

11/20/24

.

636

639

991133844.UG.FTS.B,

28.98%,

11/20/24

.

34

33

991134982.UG.FTS.B,

28.98%,

11/20/24

.

2,617

1,708

991136884.UG.FTS.B,

28.98%,

11/20/24

.

410

408

991137536.UG.FTS.B,

28.98%,

11/20/24

.

–

–

991137933.UG.FTS.B,

28.98%,

11/20/24

.

95

93

991138481.UG.FTS.B,

28.98%,

11/20/24

.

0

0

991139188.UG.FTS.B,

28.98%,

11/20/24

.

1,629

1,637

991139691.UG.FTS.B,

28.98%,

11/20/24

.

121

122

991140250.UG.FTS.B,

28.98%,

11/20/24

.

233

231

991141787.UG.FTS.B,

28.98%,

11/20/24

.

685

682

991144058.UG.FTS.B,

28.98%,

11/20/24

.

1,185

1,182

991144231.UG.FTS.B,

28.98%,

11/20/24

.

195

195

991145878.UG.FTS.B,

28.98%,

11/20/24

.

1,166

1,167

991147511.UG.FTS.B,

28.98%,

11/20/24

..

148

148

991149149.UG.FTS.B,

28.98%,

11/20/24

.

352

350

991150299.UG.FTS.B,

28.98%,

11/20/24

.

259

260

991150671.UG.FTS.B,

28.98%,

11/20/24

.

74

74

991151618.UG.FTS.B,

28.98%,

11/20/24

.

367

218

991152286.UG.FTS.B,

28.98%,

11/20/24

.

–

–

991155117.UG.FTS.B,

28.98%,

11/20/24

..

42

42

991156229.UG.FTS.B,

28.98%,

11/20/24

.

74

73

991156385.UG.FTS.B,

28.98%,

11/20/24

.

123

122

991156834.UG.FTS.B,

28.98%,

11/20/24

.

160

101

991157055.UG.FTS.B,

28.98%,

11/20/24

.

143

143

991159114.UG.FTS.B,

28.98%,

11/20/24

..

414

53

991159138.UG.FTS.B,

28.98%,

11/20/24

.

182

183

991159911.UG.FTS.B,

28.98%,

11/20/24

..

1,305

1,310

991160183.UG.FTS.B,

28.98%,

11/20/24

.

229

230

991161340.UG.FTS.B,

28.98%,

11/20/24

.

1,017

1,005

991163497.UG.FTS.B,

28.98%,

11/20/24

.

646

649

991166384.UG.FTS.B,

28.98%,

11/20/24

.

1,639

1,640

991170492.UG.FTS.B,

28.98%,

11/20/24

.

256

256

991171034.UG.FTS.B,

28.98%,

11/20/24

.

38

37

991171656.UG.FTS.B,

28.98%,

11/20/24

.

208

209

991173371.UG.FTS.B,

28.98%,

11/20/24

.

133

133

991179992.UG.FTS.B,

28.98%,

11/20/24

.

180

181

991182471.UG.FTS.B,

28.98%,

11/20/24

.

26

25

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

310

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991184545.UG.FTS.B,

28.98%,

11/20/24

.

$

340

$

341

991187570.UG.FTS.B,

28.98%,

11/20/24

.

218

219

991190395.UG.FTS.B,

28.98%,

11/20/24

.

100

100

991190989.UG.FTS.B,

28.98%,

11/20/24

.

144

144

991194988.UG.FTS.B,

28.98%,

11/20/24

.

556

559

991196328.UG.FTS.B,

28.98%,

11/20/24

.

289

290

991197523.UG.FTS.B,

28.98%,

11/20/24

.

1,098

1,103

991198786.UG.FTS.B,

28.98%,

11/20/24

.

384

380

991199806.UG.FTS.B,

28.98%,

11/20/24

.

171

171

991202534.UG.FTS.B,

28.98%,

11/20/24

.

506

501

991202664.UG.FTS.B,

28.98%,

11/20/24

.

189

(9)

991203518.UG.FTS.B,

28.98%,

11/20/24

.

79

78

991204108.UG.FTS.B,

28.98%,

11/20/24

.

32

32

991204942.UG.FTS.B,

28.98%,

11/20/24

.

184

185

991207215.UG.FTS.B,

28.98%,

11/20/24

.

7

6

991209650.UG.FTS.B,

28.98%,

11/20/24

.

11

11

991210061.UG.FTS.B,

28.98%,

11/20/24

.

13

13

991212347.UG.FTS.B,

28.98%,

11/20/24

.

167

168

991214658.UG.FTS.B,

28.98%,

11/20/24

.

2,963

2,944

991216810.UG.FTS.B,

28.98%,

11/20/24

.

144

144

991217421.UG.FTS.B,

28.98%,

11/20/24

.

857

849

991220385.UG.FTS.B,

28.98%,

11/20/24

.

48

47

991221462.UG.FTS.B,

28.98%,

11/20/24

.

16

16

991223307.UG.FTS.B,

28.98%,

11/20/24

.

183

12

991226698.UG.FTS.B,

28.98%,

11/20/24

.

187

188

991230250.UG.FTS.B,

28.98%,

11/20/24

.

21

21

991231145.UG.FTS.B,

28.98%,

11/20/24

.

2,033

2,024

991232543.UG.FTS.B,

28.98%,

11/20/24

.

232

230

991234543.UG.FTS.B,

28.98%,

11/20/24

.

7

7

991237737.UG.FTS.B,

28.98%,

11/20/24

.

2

2

991237944.UG.FTS.B,

28.98%,

11/20/24

.

3

3

991239336.UG.FTS.B,

28.98%,

11/20/24

.

338

339

991245739.UG.FTS.B,

28.98%,

11/20/24

.

–

–

991247369.UG.FTS.B,

28.98%,

11/20/24

.

1,686

1,670

991251998.UG.FTS.B,

28.98%,

11/20/24

.

5

5

991252148.UG.FTS.B,

28.98%,

11/20/24

.

–

–

991255735.UG.FTS.B,

28.98%,

11/20/24

.

103

102

991256789.UG.FTS.B,

28.98%,

11/20/24

.

545

540

991261775.UG.FTS.B,

28.98%,

11/20/24

.

551

541

991262519.UG.FTS.B,

28.98%,

11/20/24

.

140

139

991262902.UG.FTS.B,

28.98%,

11/20/24

.

22

22

991263045.UG.FTS.B,

28.98%,

11/20/24

.

653

647

991263708.UG.FTS.B,

28.98%,

11/20/24

.

90

91

991266834.UG.FTS.B,

28.98%,

11/20/24

.

43

42

991267696.UG.FTS.B,

28.98%,

11/20/24

.

816

55

991267705.UG.FTS.B,

28.98%,

11/20/24

.

253

249

991268394.UG.FTS.B,

28.98%,

11/20/24

.

438

428

991268449.UG.FTS.B,

28.98%,

11/20/24

.

47

47

991268904.UG.FTS.B,

28.98%,

11/20/24

.

2,526

2,502

991268970.UG.FTS.B,

28.98%,

11/20/24

.

673

667

991272582.UG.FTS.B,

28.98%,

11/20/24

.

22

22

991272832.UG.FTS.B,

28.98%,

11/20/24

.

400

397

991276708.UG.FTS.B,

28.98%,

11/20/24

.

252

250

991277728.UG.FTS.B,

28.98%,

11/20/24

.

1,956

132

991280031.UG.FTS.B,

28.98%,

11/20/24

.

112

111

991280072.UG.FTS.B,

28.98%,

11/20/24

.

335

331

991281497.UG.FTS.B,

28.98%,

11/20/24

.

1,115

1,104

991283003.UG.FTS.B,

28.98%,

11/20/24

.

168

166

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991290177.UG.FTS.B,

28.98%,

11/20/24

.

$

43

$

42

991297402.UG.FTS.B,

28.98%,

11/20/24

.

273

270

991298120.UG.FTS.B,

28.98%,

11/20/24

.

1,414

1,392

991098880.UG.FTS.B,

29.47%,

11/20/24

.

1,367

1,373

991103497.UG.FTS.B,

29.47%,

11/20/24

.

1,037

1,040

991098504.UG.FTS.B,

29.49%,

11/20/24

.

133

130

991098513.UG.FTS.B,

29.49%,

11/20/24

.

109

109

991098956.UG.FTS.B,

29.49%,

11/20/24

.

434

429

991099120.UG.FTS.B,

29.49%,

11/20/24

.

369

26

991099356.UG.FTS.B,

29.49%,

11/20/24

.

67

66

991100354.UG.FTS.B,

29.49%,

11/20/24

.

36

35

991100908.UG.FTS.B,

29.49%,

11/20/24

.

1,623

1,627

991101221.UG.FTS.B,

29.49%,

11/20/24

.

525

526

991106397.UG.FTS.B,

29.49%,

11/20/24

.

474

467

991106415.UG.FTS.B,

29.49%,

11/20/24

.

1,729

1,731

991107182.UG.FTS.B,

29.49%,

11/20/24

.

50

49

991107977.UG.FTS.B,

29.49%,

11/20/24

.

214

213

991108343.UG.FTS.B,

29.49%,

11/20/24

.

70

5

991108509.UG.FTS.B,

29.49%,

11/20/24

.

484

486

991108554.UG.FTS.B,

29.49%,

11/20/24

.

968

975

991108772.UG.FTS.B,

29.49%,

11/20/24

.

880

884

991109057.UG.FTS.B,

29.49%,

11/20/24

.

62

(2)

991109762.UG.FTS.B,

29.49%,

11/20/24

.

209

209

991109891.UG.FTS.B,

29.49%,

11/20/24

.

91

91

991110253.UG.FTS.B,

29.49%,

11/20/24

..

241

241

991110617.UG.FTS.B,

29.49%,

11/20/24

..

384

386

991111604.UG.FTS.B,

29.49%,

11/20/24

..

86

86

991111822.UG.FTS.B,

29.49%,

11/20/24

..

173

114

991111873.UG.FTS.B,

29.49%,

11/20/24

..

285

281

991112071.UG.FTS.B,

29.49%,

11/20/24

..

382

382

991112167.UG.FTS.B,

29.49%,

11/20/24

..

111

111

991112371.UG.FTS.B,

29.49%,

11/20/24

..

85

85

991112414.UG.FTS.B,

29.49%,

11/20/24

..

204

206

991113618.UG.FTS.B,

29.49%,

11/20/24

..

380

382

991113693.UG.FTS.B,

29.49%,

11/20/24

..

198

199

991113695.UG.FTS.B,

29.49%,

11/20/24

..

663

657

991113728.UG.FTS.B,

29.49%,

11/20/24

..

563

567

991114866.UG.FTS.B,

29.49%,

11/20/24

..

421

273

991115014.UG.FTS.B,

29.49%,

11/20/24

..

244

245

991115127.UG.FTS.B,

29.49%,

11/20/24

..

125

124

991117048.UG.FTS.B,

29.49%,

11/20/24

..

169

169

991117581.UG.FTS.B,

29.49%,

11/20/24

..

598

588

991119330.UG.FTS.B,

29.49%,

11/20/24

..

665

667

991119766.UG.FTS.B,

29.49%,

11/20/24

..

129

129

991120229.UG.FTS.B,

29.49%,

11/20/24

.

1,149

(62)

991121518.UG.FTS.B,

29.49%,

11/20/24

.

179

180

991121680.UG.FTS.B,

29.49%,

11/20/24

.

295

297

991121991.UG.FTS.B,

29.49%,

11/20/24

.

286

282

991122096.UG.FTS.B,

29.49%,

11/20/24

.

139

139

991122833.UG.FTS.B,

29.49%,

11/20/24

.

58

4

991123837.UG.FTS.B,

29.49%,

11/20/24

.

64

64

991124007.UG.FTS.B,

29.49%,

11/20/24

.

162

163

991124845.UG.FTS.B,

29.49%,

11/20/24

.

–

–

991124909.UG.FTS.B,

29.49%,

11/20/24

.

138

137

991125322.UG.FTS.B,

29.49%,

11/20/24

.

228

228

991125769.UG.FTS.B,

29.49%,

11/20/24

.

451

444

991126551.UG.FTS.B,

29.49%,

11/20/24

.

8

8

991126619.UG.FTS.B,

29.49%,

11/20/24

.

37

37

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

311

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991126630.UG.FTS.B,

29.49%,

11/20/24

.

$

38

$

37

991126766.UG.FTS.B,

29.49%,

11/20/24

.

797

54

991128142.UG.FTS.B,

29.49%,

11/20/24

.

234

31

991128884.UG.FTS.B,

29.49%,

11/20/24

.

38

38

991129659.UG.FTS.B,

29.49%,

11/20/24

.

579

577

991130120.UG.FTS.B,

29.49%,

11/20/24

.

0

0

991132140.UG.FTS.B,

29.49%,

11/20/24

.

31

31

991132175.UG.FTS.B,

29.49%,

11/20/24

.

563

562

991133485.UG.FTS.B,

29.49%,

11/20/24

.

145

144

991134209.UG.FTS.B,

29.49%,

11/20/24

.

531

523

991134396.UG.FTS.B,

29.49%,

11/20/24

.

1,256

1,236

991135949.UG.FTS.B,

29.49%,

11/20/24

.

66

65

991137387.UG.FTS.B,

29.49%,

11/20/24

.

268

269

991138102.UG.FTS.B,

29.49%,

11/20/24

.

110

111

991139068.UG.FTS.B,

29.49%,

11/20/24

.

1,311

1,319

991139357.UG.FTS.B,

29.49%,

11/20/24

.

1,237

1,245

991140790.UG.FTS.B,

29.49%,

11/20/24

.

684

688

991142389.UG.FTS.B,

29.49%,

11/20/24

.

1,022

1,021

991142756.UG.FTS.B,

29.49%,

11/20/24

.

366

229

991143333.UG.FTS.B,

29.49%,

11/20/24

.

2

2

991143518.UG.FTS.B,

29.49%,

11/20/24

.

25

25

991143761.UG.FTS.B,

29.49%,

11/20/24

.

64

64

991145294.UG.FTS.B,

29.49%,

11/20/24

.

124

125

991146210.UG.FTS.B,

29.49%,

11/20/24

.

150

100

991146448.UG.FTS.B,

29.49%,

11/20/24

.

256

256

991146775.UG.FTS.B,

29.49%,

11/20/24

.

449

447

991147214.UG.FTS.B,

29.49%,

11/20/24

.

35

35

991147650.UG.FTS.B,

29.49%,

11/20/24

.

1,773

1,776

991150600.UG.FTS.B,

29.49%,

11/20/24

.

1,215

1,203

991151418.UG.FTS.B,

29.49%,

11/20/24

.

140

140

991152603.UG.FTS.B,

29.49%,

11/20/24

.

245

246

991155461.UG.FTS.B,

29.49%,

11/20/24

.

575

566

991158327.UG.FTS.B,

29.49%,

11/20/24

.

192

190

991161030.UG.FTS.B,

29.49%,

11/20/24

.

150

151

991163206.UG.FTS.B,

29.49%,

11/20/24

.

10

9

991163815.UG.FTS.B,

29.49%,

11/20/24

.

–

–

991164406.UG.FTS.B,

29.49%,

11/20/24

.

648

649

991164426.UG.FTS.B,

29.49%,

11/20/24

.

917

62

991164453.UG.FTS.B,

29.49%,

11/20/24

.

29

2

991164566.UG.FTS.B,

29.49%,

11/20/24

.

232

228

991165138.UG.FTS.B,

29.49%,

11/20/24

.

212

212

991165963.UG.FTS.B,

29.49%,

11/20/24

.

377

(14)

991166209.UG.FTS.B,

29.49%,

11/20/24

.

82

19

991167362.UG.FTS.B,

29.49%,

11/20/24

.

511

514

991168119.UG.FTS.B,

29.49%,

11/20/24

..

1,704

1,717

991168902.UG.FTS.B,

29.49%,

11/20/24

.

475

469

991169205.UG.FTS.B,

29.49%,

11/20/24

.

2,557

2,542

991170726.UG.FTS.B,

29.49%,

11/20/24

.

383

385

991171709.UG.FTS.B,

29.49%,

11/20/24

.

810

812

991175340.UG.FTS.B,

29.49%,

11/20/24

.

101

102

991176870.UG.FTS.B,

29.49%,

11/20/24

.

2,125

2,137

991178266.UG.FTS.B,

29.49%,

11/20/24

.

146

10

991179060.UG.FTS.B,

29.49%,

11/20/24

.

16

16

991179392.UG.FTS.B,

29.49%,

11/20/24

.

40

39

991179415.UG.FTS.B,

29.49%,

11/20/24

.

785

785

991180301.UG.FTS.B,

29.49%,

11/20/24

.

6

6

991182003.UG.FTS.B,

29.49%,

11/20/24

.

5

5

991182916.UG.FTS.B,

29.49%,

11/20/24

.

100

7

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991182928.UG.FTS.B,

29.49%,

11/20/24

.

$

111

$

112

991183942.UG.FTS.B,

29.49%,

11/20/24

.

100

(7)

991185527.UG.FTS.B,

29.49%,

11/20/24

.

52

52

991185927.UG.FTS.B,

29.49%,

11/20/24

.

136

135

991187401.UG.FTS.B,

29.49%,

11/20/24

.

15

15

991187953.UG.FTS.B,

29.49%,

11/20/24

.

73

73

991188097.UG.FTS.B,

29.49%,

11/20/24

.

81

81

991192873.UG.FTS.B,

29.49%,

11/20/24

.

78

78

991195573.UG.FTS.B,

29.49%,

11/20/24

.

340

342

991198370.UG.FTS.B,

29.49%,

11/20/24

.

288

285

991198394.UG.FTS.B,

29.49%,

11/20/24

.

612

615

991199929.UG.FTS.B,

29.49%,

11/20/24

.

89

12

991200725.UG.FTS.B,

29.49%,

11/20/24

.

21

20

991201118.UG.FTS.B,

29.49%,

11/20/24

..

1,630

111

991202228.UG.FTS.B,

29.49%,

11/20/24

.

206

207

991202248.UG.FTS.B,

29.49%,

11/20/24

.

18

18

991203385.UG.FTS.B,

29.49%,

11/20/24

.

394

390

991204030.UG.FTS.B,

29.49%,

11/20/24

.

373

(14)

991204386.UG.FTS.B,

29.49%,

11/20/24

.

15

14

991204657.UG.FTS.B,

29.49%,

11/20/24

.

51

50

991205549.UG.FTS.B,

29.49%,

11/20/24

.

102

7

991207007.UG.FTS.B,

29.49%,

11/20/24

.

14

14

991209604.UG.FTS.B,

29.49%,

11/20/24

.

140

(5)

991210088.UG.FTS.B,

29.49%,

11/20/24

.

672

663

991211764.UG.FTS.B,

29.49%,

11/20/24

.

94

94

991212353.UG.FTS.B,

29.49%,

11/20/24

.

59

59

991213174.UG.FTS.B,

29.49%,

11/20/24

.

899

61

991213437.UG.FTS.B,

29.49%,

11/20/24

.

100

101

991213653.UG.FTS.B,

29.49%,

11/20/24

.

466

461

991215595.UG.FTS.B,

29.49%,

11/20/24

.

507

510

991216973.UG.FTS.B,

29.49%,

11/20/24

.

678

677

991217052.UG.FTS.B,

29.49%,

11/20/24

.

3,251

3,214

991218431.UG.FTS.B,

29.49%,

11/20/24

.

78

78

991219254.UG.FTS.B,

29.49%,

11/20/24

.

106

74

991220052.UG.FTS.B,

29.49%,

11/20/24

.

397

393

991220122.UG.FTS.B,

29.49%,

11/20/24

.

686

679

991223479.UG.FTS.B,

29.49%,

11/20/24

.

192

190

991226505.UG.FTS.B,

29.49%,

11/20/24

.

50

49

991231725.UG.FTS.B,

29.49%,

11/20/24

.

311

310

991231911.UG.FTS.B,

29.49%,

11/20/24

.

846

850

991233581.UG.FTS.B,

29.49%,

11/20/24

.

291

288

991233863.UG.FTS.B,

29.49%,

11/20/24

.

2,270

2,232

991234446.UG.FTS.B,

29.49%,

11/20/24

.

551

545

991235520.UG.FTS.B,

29.49%,

11/20/24

.

22

3

991235817.UG.FTS.B,

29.49%,

11/20/24

.

94

93

991238069.UG.FTS.B,

29.49%,

11/20/24

.

246

33

991238431.UG.FTS.B,

29.49%,

11/20/24

.

1,289

1,275

991239349.UG.FTS.B,

29.49%,

11/20/24

.

303

303

991239830.UG.FTS.B,

29.49%,

11/20/24

.

760

752

991239954.UG.FTS.B,

29.49%,

11/20/24

.

273

36

991244043.UG.FTS.B,

29.49%,

11/20/24

.

190

188

991245946.UG.FTS.B,

29.49%,

11/20/24

.

212

28

991246833.UG.FTS.B,

29.49%,

11/20/24

.

109

108

991247212.UG.FTS.B,

29.49%,

11/20/24

.

336

332

991247225.UG.FTS.B,

29.49%,

11/20/24

.

101

100

991247313.UG.FTS.B,

29.49%,

11/20/24

.

228

225

991251077.UG.FTS.B,

29.49%,

11/20/24

.

–

–

991251752.UG.FTS.B,

29.49%,

11/20/24

.

17

17

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

312

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991252193.UG.FTS.B,

29.49%,

11/20/24

.

$

147

$

146

991255332.UG.FTS.B,

29.49%,

11/20/24

.

225

15

991255946.UG.FTS.B,

29.49%,

11/20/24

.

103

102

991256472.UG.FTS.B,

29.49%,

11/20/24

.

33

33

991260893.UG.FTS.B,

29.49%,

11/20/24

.

72

72

991261022.UG.FTS.B,

29.49%,

11/20/24

.

73

71

991263054.UG.FTS.B,

29.49%,

11/20/24

.

219

215

991263434.UG.FTS.B,

29.49%,

11/20/24

.

21

19

991265047.UG.FTS.B,

29.49%,

11/20/24

.

76

5

991267259.UG.FTS.B,

29.49%,

11/20/24

.

152

150

991267347.UG.FTS.B,

29.49%,

11/20/24

.

240

238

991267485.UG.FTS.B,

29.49%,

11/20/24

.

101

100

991267709.UG.FTS.B,

29.49%,

11/20/24

.

421

417

991267756.UG.FTS.B,

29.49%,

11/20/24

.

226

16

991268249.UG.FTS.B,

29.49%,

11/20/24

.

377

246

991268338.UG.FTS.B,

29.49%,

11/20/24

.

421

417

991268841.UG.FTS.B,

29.49%,

11/20/24

.

105

104

991269003.UG.FTS.B,

29.49%,

11/20/24

.

835

824

991270194.UG.FTS.B,

29.49%,

11/20/24

.

115

114

991271173.UG.FTS.B,

29.49%,

11/20/24

.

896

886

991271865.UG.FTS.B,

29.49%,

11/20/24

.

26

26

991275404.UG.FTS.B,

29.49%,

11/20/24

.

122

8

991279273.UG.FTS.B,

29.49%,

11/20/24

.

210

137

991279325.UG.FTS.B,

29.49%,

11/20/24

.

165

163

991284731.UG.FTS.B,

29.49%,

11/20/24

.

99

97

991285992.UG.FTS.B,

29.49%,

11/20/24

.

158

155

991288118.UG.FTS.B,

29.49%,

11/20/24

.

7

7

991289896.UG.FTS.B,

29.49%,

11/20/24

.

25

24

991291853.UG.FTS.B,

29.49%,

11/20/24

.

23

22

991292471.UG.FTS.B,

29.49%,

11/20/24

.

71

5

991292783.UG.FTS.B,

29.49%,

11/20/24

.

15

15

991292995.UG.FTS.B,

29.49%,

11/20/24

.

576

569

991297014.UG.FTS.B,

29.49%,

11/20/24

.

7

7

991297615.UG.FTS.B,

29.49%,

11/20/24

.

81

81

991299845.UG.FTS.B,

29.49%,

11/20/24

.

1,260

1,246

991299902.UG.FTS.B,

29.49%,

11/20/24

.

420

416

991091472.UG.FTS.B,

Zero

Cpn,

11/21/24

3,392

–

991109123.UG.FTS.B,

Zero

Cpn,

11/21/24

258

–

991112735.UG.FTS.B,

Zero

Cpn,

11/21/24

65

–

991118728.UG.FTS.B,

Zero

Cpn,

11/21/24

334

–

991121886.UG.FTS.B,

Zero

Cpn,

11/21/24

116

–

991138336.UG.FTS.B,

Zero

Cpn,

11/21/24

431

29

991140886.UG.FTS.B,

Zero

Cpn,

11/21/24

217

–

991149879.UG.FTS.B,

Zero

Cpn,

11/21/24

33

–

991155982.UG.FTS.B,

Zero

Cpn,

11/21/24

196

–

991159523.UG.FTS.B,

Zero

Cpn,

11/21/24

209

–

991171543.UG.FTS.B,

Zero

Cpn,

11/21/24

325

–

991172101.UG.FTS.B,

Zero

Cpn,

11/21/24

72

–

991189120.UG.FTS.B,

Zero

Cpn,

11/21/24

103

–

991247135.UG.FTS.B,

Zero

Cpn,

11/21/24

122

–

991258910.UG.FTS.B,

Zero

Cpn,

11/21/24

141

–

991261882.UG.FTS.B,

Zero

Cpn,

11/21/24

349

–

991263104.UG.FTS.B,

Zero

Cpn,

11/21/24

87

–

991268383.UG.FTS.B,

Zero

Cpn,

11/21/24

500

–

991275148.UG.FTS.B,

Zero

Cpn,

11/21/24

273

–

991276944.UG.FTS.B,

Zero

Cpn,

11/21/24

1,468

–

991292959.UG.FTS.B,

Zero

Cpn,

11/21/24

107

–

991149639.UG.FTS.B,

18.21%,

11/21/24

.

566

558

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991093963.UG.FTS.B,

18.97%,

11/21/24

.

$

499

$

494

991128878.UG.FTS.B,

18.97%,

11/21/24

.

67

66

991189815.UG.FTS.B,

18.97%,

11/21/24

.

115

114

991224989.UG.FTS.B,

18.97%,

11/21/24

.

1,485

1,467

991289839.UG.FTS.B,

18.97%,

11/21/24

.

37

37

991141070.UG.FTS.B,

19.21%,

11/21/24

.

22

22

991143958.UG.FTS.B,

19.21%,

11/21/24

.

32

31

991237854.UG.FTS.B,

19.21%,

11/21/24

.

296

291

991248208.UG.FTS.B,

19.21%,

11/21/24

.

554

544

991254447.UG.FTS.B,

19.21%,

11/21/24

.

308

302

991102979.UG.FTS.B,

19.8%,

11/21/24

..

582

574

991110086.UG.FTS.B,

19.8%,

11/21/24

...

961

948

991141090.UG.FTS.B,

19.8%,

11/21/24

..

993

980

991144492.UG.FTS.B,

19.8%,

11/21/24

..

310

306

991183586.UG.FTS.B,

19.8%,

11/21/24

..

186

184

991187993.UG.FTS.B,

19.8%,

11/21/24

..

940

926

991198112.UG.FTS.B,

19.8%,

11/21/24

...

315

311

991100299.UG.FTS.B,

19.99%,

11/21/24

.

248

245

991101910.UG.FTS.B,

19.99%,

11/21/24

.

3,303

3,319

991110283.UG.FTS.B,

19.99%,

11/21/24

..

323

325

991112301.UG.FTS.B,

19.99%,

11/21/24

..

348

350

991117284.UG.FTS.B,

19.99%,

11/21/24

..

71

71

991119302.UG.FTS.B,

19.99%,

11/21/24

..

7,500

7,542

991129682.UG.FTS.B,

19.99%,

11/21/24

.

497

498

991138856.UG.FTS.B,

19.99%,

11/21/24

.

151

150

991140335.UG.FTS.B,

19.99%,

11/21/24

.

17

17

991143037.UG.FTS.B,

19.99%,

11/21/24

.

26

26

991174755.UG.FTS.B,

19.99%,

11/21/24

.

390

392

991212183.UG.FTS.B,

19.99%,

11/21/24

.

397

274

991233192.UG.FTS.B,

19.99%,

11/21/24

.

71

71

991233489.UG.FTS.B,

19.99%,

11/21/24

.

17

17

991288317.UG.FTS.B,

19.99%,

11/21/24

.

25

25

991299486.UG.FTS.B,

19.99%,

11/21/24

.

67

67

991104785.UG.FTS.B,

20.46%,

11/21/24

.

1,696

1,669

991127329.UG.FTS.B,

20.46%,

11/21/24

.

914

902

991141157.UG.FTS.B,

20.46%,

11/21/24

..

6,250

6,164

991091686.UG.FTS.B,

20.97%,

11/21/24

.

203

200

991104992.UG.FTS.B,

20.97%,

11/21/24

.

292

288

991146751.UG.FTS.B,

20.97%,

11/21/24

.

167

165

991151289.UG.FTS.B,

20.97%,

11/21/24

.

555

547

991177917.UG.FTS.B,

20.97%,

11/21/24

.

133

130

991278616.UG.FTS.B,

20.97%,

11/21/24

.

53

4

991291564.UG.FTS.B,

20.98%,

11/21/24

.

113

110

991092476.UG.FTS.B,

21.46%,

11/21/24

.

296

188

991109801.UG.FTS.B,

21.46%,

11/21/24

.

661

650

991157623.UG.FTS.B,

21.46%,

11/21/24

.

412

406

991224483.UG.FTS.B,

21.46%,

11/21/24

.

249

245

991096191.UG.FTS.B,

21.97%,

11/21/24

.

127

9

991135834.UG.FTS.B,

21.97%,

11/21/24

.

407

400

991206543.UG.FTS.B,

21.97%,

11/21/24

.

6,020

5,917

991089998.UG.FTS.B,

21.98%,

11/21/24

.

1,314

825

991097991.UG.FTS.B,

21.98%,

11/21/24

.

3,234

3,176

991109825.UG.FTS.B,

21.98%,

11/21/24

.

350

341

991114413.UG.FTS.B,

21.98%,

11/21/24

..

454

447

991122333.UG.FTS.B,

21.98%,

11/21/24

.

680

439

991205229.UG.FTS.B,

21.98%,

11/21/24

.

58

57

991207630.UG.FTS.B,

21.98%,

11/21/24

.

504

492

991235519.UG.FTS.B,

21.98%,

11/21/24

.

384

375

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

313

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991267091.UG.FTS.B,

21.98%,

11/21/24

.

$

2,982

$

2,908

991107874.UG.FTS.B,

22.95%,

11/21/24

.

165

20

991156272.UG.FTS.B,

22.95%,

11/21/24

.

292

286

991197157.UG.FTS.B,

22.95%,

11/21/24

.

607

595

991092493.UG.FTS.B,

22.97%,

11/21/24

.

476

468

991097130.UG.FTS.B,

22.97%,

11/21/24

.

85

84

991100186.UG.FTS.B,

22.97%,

11/21/24

.

1,694

1,650

991156214.UG.FTS.B,

22.97%,

11/21/24

.

125

123

991186355.UG.FTS.B,

22.97%,

11/21/24

.

136

134

991104066.UG.FTS.B,

23.95%,

11/21/24

.

425

417

991121359.UG.FTS.B,

23.95%,

11/21/24

.

255

18

991123920.UG.FTS.B,

23.95%,

11/21/24

.

1,209

1,186

991212106.UG.FTS.B,

23.95%,

11/21/24

.

48

47

991258610.UG.FTS.B,

23.95%,

11/21/24

.

91

6

991271217.UG.FTS.B,

23.95%,

11/21/24

.

308

299

991150423.UG.FTS.B,

25.94%,

11/21/24

.

403

391

991091300.UG.FTS.B,

26.94%,

11/21/24

.

330

323

991098564.UG.FTS.B,

26.94%,

11/21/24

.

232

227

991128509.UG.FTS.B,

27.99%,

11/21/24

.

284

285

991225119.UG.FTS.B,

27.99%,

11/21/24

.

1,098

1,103

991238892.UG.FTS.B,

27.99%,

11/21/24

.

41

41

991098805.UG.FTS.B,

28.98%,

11/21/24

.

87

87

991099584.UG.FTS.B,

28.98%,

11/21/24

.

122

122

991100106.UG.FTS.B,

28.98%,

11/21/24

.

75

75

991100133.UG.FTS.B,

28.98%,

11/21/24

.

160

159

991101334.UG.FTS.B,

28.98%,

11/21/24

.

2,895

612

991101503.UG.FTS.B,

28.98%,

11/21/24

.

1,270

1,275

991102693.UG.FTS.B,

28.98%,

11/21/24

.

2,019

(51)

991103359.UG.FTS.B,

28.98%,

11/21/24

.

1,176

1,180

991103415.UG.FTS.B,

28.98%,

11/21/24

.

162

160

991103484.UG.FTS.B,

28.98%,

11/21/24

.

90

89

991103505.UG.FTS.B,

28.98%,

11/21/24

.

559

561

991103666.UG.FTS.B,

28.98%,

11/21/24

.

920

924

991104830.UG.FTS.B,

28.98%,

11/21/24

.

1,677

1,659

991105102.UG.FTS.B,

28.98%,

11/21/24

.

228

159

991106305.UG.FTS.B,

28.98%,

11/21/24

.

860

860

991106632.UG.FTS.B,

28.98%,

11/21/24

.

440

441

991106860.UG.FTS.B,

28.98%,

11/21/24

.

820

824

991107084.UG.FTS.B,

28.98%,

11/21/24

.

417

418

991107547.UG.FTS.B,

28.98%,

11/21/24

.

883

883

991107910.UG.FTS.B,

28.98%,

11/21/24

.

379

376

991108391.UG.FTS.B,

28.98%,

11/21/24

.

44

43

991110664.UG.FTS.B,

28.98%,

11/21/24

..

27

27

991111615.UG.FTS.B,

28.98%,

11/21/24

..

40

39

991112083.UG.FTS.B,

28.98%,

11/21/24

..

2,027

2,037

991112673.UG.FTS.B,

28.98%,

11/21/24

..

132

132

991113130.UG.FTS.B,

28.98%,

11/21/24

..

390

26

991113938.UG.FTS.B,

28.98%,

11/21/24

..

283

284

991114058.UG.FTS.B,

28.98%,

11/21/24

..

14

13

991115757.UG.FTS.B,

28.98%,

11/21/24

..

130

129

991115893.UG.FTS.B,

28.98%,

11/21/24

..

783

53

991116704.UG.FTS.B,

28.98%,

11/21/24

..

–

–

991122560.UG.FTS.B,

28.98%,

11/21/24

.

312

313

991122572.UG.FTS.B,

28.98%,

11/21/24

.

220

16

991122614.UG.FTS.B,

28.98%,

11/21/24

.

113

114

991123406.UG.FTS.B,

28.98%,

11/21/24

.

327

324

991124996.UG.FTS.B,

28.98%,

11/21/24

.

77

76

991125216.UG.FTS.B,

28.98%,

11/21/24

.

171

172

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991125455.UG.FTS.B,

28.98%,

11/21/24

.

$

233

$

234

991125692.UG.FTS.B,

28.98%,

11/21/24

.

77

77

991127890.UG.FTS.B,

28.98%,

11/21/24

.

299

301

991128721.UG.FTS.B,

28.98%,

11/21/24

.

14

14

991129275.UG.FTS.B,

28.98%,

11/21/24

.

816

819

991130741.UG.FTS.B,

28.98%,

11/21/24

.

198

197

991131011.UG.FTS.B,

28.98%,

11/21/24

..

51

(1)

991131576.UG.FTS.B,

28.98%,

11/21/24

.

2,532

2,538

991132808.UG.FTS.B,

28.98%,

11/21/24

.

6

6

991134193.UG.FTS.B,

28.98%,

11/21/24

.

263

265

991135493.UG.FTS.B,

28.98%,

11/21/24

.

79

79

991136064.UG.FTS.B,

28.98%,

11/21/24

.

483

485

991137767.UG.FTS.B,

28.98%,

11/21/24

.

34

34

991137789.UG.FTS.B,

28.98%,

11/21/24

.

128

18

991138300.UG.FTS.B,

28.98%,

11/21/24

.

116

116

991139024.UG.FTS.B,

28.98%,

11/21/24

.

212

212

991140811.UG.FTS.B,

28.98%,

11/21/24

..

121

122

991142024.UG.FTS.B,

28.98%,

11/21/24

.

1,766

1,775

991142067.UG.FTS.B,

28.98%,

11/21/24

.

854

859

991144473.UG.FTS.B,

28.98%,

11/21/24

.

288

289

991147107.UG.FTS.B,

28.98%,

11/21/24

.

220

218

991147164.UG.FTS.B,

28.98%,

11/21/24

.

656

659

991150874.UG.FTS.B,

28.98%,

11/21/24

.

2,009

2,010

991152554.UG.FTS.B,

28.98%,

11/21/24

.

122

123

991153965.UG.FTS.B,

28.98%,

11/21/24

.

69

68

991158174.UG.FTS.B,

28.98%,

11/21/24

.

343

45

991158308.UG.FTS.B,

28.98%,

11/21/24

.

297

296

991160527.UG.FTS.B,

28.98%,

11/21/24

.

9

9

991161718.UG.FTS.B,

28.98%,

11/21/24

.

242

239

991162098.UG.FTS.B,

28.98%,

11/21/24

.

336

338

991169068.UG.FTS.B,

28.98%,

11/21/24

.

852

846

991169889.UG.FTS.B,

28.98%,

11/21/24

.

558

554

991170155.UG.FTS.B,

28.98%,

11/21/24

.

1,651

1,629

991174647.UG.FTS.B,

28.98%,

11/21/24

.

463

465

991174651.UG.FTS.B,

28.98%,

11/21/24

.

1,647

1,654

991175029.UG.FTS.B,

28.98%,

11/21/24

.

1,070

1,068

991177091.UG.FTS.B,

28.98%,

11/21/24

.

964

969

991178506.UG.FTS.B,

28.98%,

11/21/24

.

329

330

991178650.UG.FTS.B,

28.98%,

11/21/24

.

468

470

991181062.UG.FTS.B,

28.98%,

11/21/24

.

1,452

1,431

991181108.UG.FTS.B,

28.98%,

11/21/24

..

88

88

991185383.UG.FTS.B,

28.98%,

11/21/24

.

703

698

991186631.UG.FTS.B,

28.98%,

11/21/24

.

11

11

991191535.UG.FTS.B,

28.98%,

11/21/24

.

139

9

991194541.UG.FTS.B,

28.98%,

11/21/24

.

163

164

991196539.UG.FTS.B,

28.98%,

11/21/24

.

88

88

991197966.UG.FTS.B,

28.98%,

11/21/24

.

136

136

991200031.UG.FTS.B,

28.98%,

11/21/24

.

410

412

991204271.UG.FTS.B,

28.98%,

11/21/24

.

180

181

991204664.UG.FTS.B,

28.98%,

11/21/24

.

246

242

991205228.UG.FTS.B,

28.98%,

11/21/24

.

95

96

991205445.UG.FTS.B,

28.98%,

11/21/24

.

484

486

991212523.UG.FTS.B,

28.98%,

11/21/24

.

87

86

991212789.UG.FTS.B,

28.98%,

11/21/24

.

132

131

991212919.UG.FTS.B,

28.98%,

11/21/24

.

58

58

991218149.UG.FTS.B,

28.98%,

11/21/24

.

1,694

1,702

991218290.UG.FTS.B,

28.98%,

11/21/24

.

212

213

991223136.UG.FTS.B,

28.98%,

11/21/24

.

688

686

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

314

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991223157.UG.FTS.B,

28.98%,

11/21/24

.

$

135

$

134

991223685.UG.FTS.B,

28.98%,

11/21/24

.

193

191

991225496.UG.FTS.B,

28.98%,

11/21/24

.

548

547

991226400.UG.FTS.B,

28.98%,

11/21/24

.

69

69

991226633.UG.FTS.B,

28.98%,

11/21/24

.

157

155

991227250.UG.FTS.B,

28.98%,

11/21/24

.

180

181

991229010.UG.FTS.B,

28.98%,

11/21/24

.

367

363

991232002.UG.FTS.B,

28.98%,

11/21/24

.

360

361

991233789.UG.FTS.B,

28.98%,

11/21/24

.

579

573

991234615.UG.FTS.B,

28.98%,

11/21/24

.

80

80

991236612.UG.FTS.B,

28.98%,

11/21/24

.

74

74

991236869.UG.FTS.B,

28.98%,

11/21/24

.

210

133

991237119.UG.FTS.B,

28.98%,

11/21/24

.

1,377

1,383

991238366.UG.FTS.B,

28.98%,

11/21/24

.

61

47

991239600.UG.FTS.B,

28.98%,

11/21/24

.

117

115

991243049.UG.FTS.B,

28.98%,

11/21/24

.

143

142

991246232.UG.FTS.B,

28.98%,

11/21/24

.

445

437

991246684.UG.FTS.B,

28.98%,

11/21/24

.

1,689

1,674

991249892.UG.FTS.B,

28.98%,

11/21/24

.

49

49

991250096.UG.FTS.B,

28.98%,

11/21/24

.

71

70

991252096.UG.FTS.B,

28.98%,

11/21/24

.

20

20

991257871.UG.FTS.B,

28.98%,

11/21/24

.

186

184

991262752.UG.FTS.B,

28.98%,

11/21/24

.

230

227

991263810.UG.FTS.B,

28.98%,

11/21/24

.

315

312

991263992.UG.FTS.B,

28.98%,

11/21/24

.

302

300

991264140.UG.FTS.B,

28.98%,

11/21/24

.

914

905

991265850.UG.FTS.B,

28.98%,

11/21/24

.

148

146

991267292.UG.FTS.B,

28.98%,

11/21/24

.

700

47

991269555.UG.FTS.B,

28.98%,

11/21/24

.

259

257

991275113.UG.FTS.B,

28.98%,

11/21/24

.

130

129

991278995.UG.FTS.B,

28.98%,

11/21/24

.

31

31

991280623.UG.FTS.B,

28.98%,

11/21/24

.

36

36

991284800.UG.FTS.B,

28.98%,

11/21/24

.

205

202

991289977.UG.FTS.B,

28.98%,

11/21/24

.

72

72

991290510.UG.FTS.B,

28.98%,

11/21/24

.

82

80

991293661.UG.FTS.B,

28.98%,

11/21/24

.

346

342

991297297.UG.FTS.B,

28.98%,

11/21/24

.

277

275

991297865.UG.FTS.B,

28.98%,

11/21/24

.

260

258

991298057.UG.FTS.B,

28.98%,

11/21/24

.

168

166

991301788.UG.FTS.B,

28.98%,

11/21/24

.

18

17

991303333.UG.FTS.B,

28.98%,

11/21/24

.

28

28

991098822.UG.FTS.B,

29.49%,

11/21/24

.

297

299

991098918.UG.FTS.B,

29.49%,

11/21/24

.

442

444

991099684.UG.FTS.B,

29.49%,

11/21/24

.

107

108

991099793.UG.FTS.B,

29.49%,

11/21/24

.

1,802

1,765

991099795.UG.FTS.B,

29.49%,

11/21/24

.

174

175

991099825.UG.FTS.B,

29.49%,

11/21/24

.

282

279

991099891.UG.FTS.B,

29.49%,

11/21/24

.

306

308

991100418.UG.FTS.B,

29.49%,

11/21/24

.

490

492

991100471.UG.FTS.B,

29.49%,

11/21/24

.

568

380

991100855.UG.FTS.B,

29.49%,

11/21/24

.

13

13

991101118.UG.FTS.B,

29.49%,

11/21/24

..

64

63

991101168.UG.FTS.B,

29.49%,

11/21/24

..

82

81

991101214.UG.FTS.B,

29.49%,

11/21/24

.

1,884

1,898

991101244.UG.FTS.B,

29.49%,

11/21/24

.

35

34

991102334.UG.FTS.B,

29.49%,

11/21/24

.

2,566

2,582

991102923.UG.FTS.B,

29.49%,

11/21/24

.

276

20

991102962.UG.FTS.B,

29.49%,

11/21/24

.

93

94

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991103642.UG.FTS.B,

29.49%,

11/21/24

.

$

301

$

302

991103815.UG.FTS.B,

29.49%,

11/21/24

.

578

571

991104175.UG.FTS.B,

29.49%,

11/21/24

.

210

207

991104383.UG.FTS.B,

29.49%,

11/21/24

.

250

252

991104423.UG.FTS.B,

29.49%,

11/21/24

.

379

29

991104867.UG.FTS.B,

29.49%,

11/21/24

.

81

6

991105230.UG.FTS.B,

29.49%,

11/21/24

.

25

24

991105265.UG.FTS.B,

29.49%,

11/21/24

.

38

(1)

991107315.UG.FTS.B,

29.49%,

11/21/24

.

57

56

991107662.UG.FTS.B,

29.49%,

11/21/24

.

289

283

991107906.UG.FTS.B,

29.49%,

11/21/24

.

1,741

1,754

991108097.UG.FTS.B,

29.49%,

11/21/24

.

92

92

991108475.UG.FTS.B,

29.49%,

11/21/24

.

–

–

991109556.UG.FTS.B,

29.49%,

11/21/24

.

72

71

991109577.UG.FTS.B,

29.49%,

11/21/24

.

552

548

991109631.UG.FTS.B,

29.49%,

11/21/24

.

403

397

991109941.UG.FTS.B,

29.49%,

11/21/24

.

3

3

991110203.UG.FTS.B,

29.49%,

11/21/24

..

201

201

991110240.UG.FTS.B,

29.49%,

11/21/24

..

164

162

991110655.UG.FTS.B,

29.49%,

11/21/24

..

154

154

991111065.UG.FTS.B,

29.49%,

11/21/24

..

89

89

991111507.UG.FTS.B,

29.49%,

11/21/24

..

73

72

991112136.UG.FTS.B,

29.49%,

11/21/24

..

76

11

991112229.UG.FTS.B,

29.49%,

11/21/24

..

204

15

991112369.UG.FTS.B,

29.49%,

11/21/24

..

161

21

991112437.UG.FTS.B,

29.49%,

11/21/24

..

363

365

991112882.UG.FTS.B,

29.49%,

11/21/24

..

864

869

991113030.UG.FTS.B,

29.49%,

11/21/24

..

79

(3)

991113103.UG.FTS.B,

29.49%,

11/21/24

..

174

175

991113676.UG.FTS.B,

29.49%,

11/21/24

..

41

40

991113685.UG.FTS.B,

29.49%,

11/21/24

..

53

53

991114014.UG.FTS.B,

29.49%,

11/21/24

..

15

15

991114305.UG.FTS.B,

29.49%,

11/21/24

..

57

57

991114374.UG.FTS.B,

29.49%,

11/21/24

..

452

445

991115328.UG.FTS.B,

29.49%,

11/21/24

..

59

59

991115550.UG.FTS.B,

29.49%,

11/21/24

..

430

425

991115930.UG.FTS.B,

29.49%,

11/21/24

..

630

627

991116295.UG.FTS.B,

29.49%,

11/21/24

..

956

961

991116441.UG.FTS.B,

29.49%,

11/21/24

..

322

322

991116748.UG.FTS.B,

29.49%,

11/21/24

..

79

5

991117735.UG.FTS.B,

29.49%,

11/21/24

..

367

366

991118137.UG.FTS.B,

29.49%,

11/21/24

..

252

249

991118362.UG.FTS.B,

29.49%,

11/21/24

..

548

542

991120404.UG.FTS.B,

29.49%,

11/21/24

.

153

151

991121299.UG.FTS.B,

29.49%,

11/21/24

.

890

894

991122036.UG.FTS.B,

29.49%,

11/21/24

.

94

95

991122752.UG.FTS.B,

29.49%,

11/21/24

.

65

4

991123398.UG.FTS.B,

29.49%,

11/21/24

.

581

570

991123851.UG.FTS.B,

29.49%,

11/21/24

.

478

481

991124929.UG.FTS.B,

29.49%,

11/21/24

.

698

693

991124955.UG.FTS.B,

29.49%,

11/21/24

.

1,144

78

991125417.UG.FTS.B,

29.49%,

11/21/24

.

128

129

991125736.UG.FTS.B,

29.49%,

11/21/24

.

87

87

991125880.UG.FTS.B,

29.49%,

11/21/24

.

69

68

991126296.UG.FTS.B,

29.49%,

11/21/24

.

657

651

991126506.UG.FTS.B,

29.49%,

11/21/24

.

74

73

991126832.UG.FTS.B,

29.49%,

11/21/24

.

145

143

991128102.UG.FTS.B,

29.49%,

11/21/24

.

79

79

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

315

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991129183.UG.FTS.B,

29.49%,

11/21/24

.

$

481

$

483

991130355.UG.FTS.B,

29.49%,

11/21/24

.

893

893

991130606.UG.FTS.B,

29.49%,

11/21/24

.

81

20

991130674.UG.FTS.B,

29.49%,

11/21/24

.

290

290

991131027.UG.FTS.B,

29.49%,

11/21/24

.

380

51

991131102.UG.FTS.B,

29.49%,

11/21/24

..

94

64

991131801.UG.FTS.B,

29.49%,

11/21/24

.

122

122

991132346.UG.FTS.B,

29.49%,

11/21/24

.

821

821

991132792.UG.FTS.B,

29.49%,

11/21/24

.

185

186

991132948.UG.FTS.B,

29.49%,

11/21/24

.

154

155

991133364.UG.FTS.B,

29.49%,

11/21/24

.

169

167

991133817.UG.FTS.B,

29.49%,

11/21/24

.

316

317

991135860.UG.FTS.B,

29.49%,

11/21/24

.

–

–

991136618.UG.FTS.B,

29.49%,

11/21/24

.

278

280

991137083.UG.FTS.B,

29.49%,

11/21/24

.

483

484

991137564.UG.FTS.B,

29.49%,

11/21/24

.

189

187

991137836.UG.FTS.B,

29.49%,

11/21/24

.

197

197

991138376.UG.FTS.B,

29.49%,

11/21/24

.

103

103

991139313.UG.FTS.B,

29.49%,

11/21/24

.

136

137

991139966.UG.FTS.B,

29.49%,

11/21/24

.

251

250

991140808.UG.FTS.B,

29.49%,

11/21/24

.

227

222

991142550.UG.FTS.B,

29.49%,

11/21/24

.

145

142

991142705.UG.FTS.B,

29.49%,

11/21/24

.

534

537

991144598.UG.FTS.B,

29.49%,

11/21/24

.

205

204

991145155.UG.FTS.B,

29.49%,

11/21/24

.

175

176

991145319.UG.FTS.B,

29.49%,

11/21/24

.

142

143

991146396.UG.FTS.B,

29.49%,

11/21/24

.

526

(8)

991150232.UG.FTS.B,

29.49%,

11/21/24

.

196

26

991151060.UG.FTS.B,

29.49%,

11/21/24

.

517

520

991155328.UG.FTS.B,

29.49%,

11/21/24

.

248

249

991156602.UG.FTS.B,

29.49%,

11/21/24

.

98

22

991157022.UG.FTS.B,

29.49%,

11/21/24

.

965

964

991157620.UG.FTS.B,

29.49%,

11/21/24

.

40

(1)

991159418.UG.FTS.B,

29.49%,

11/21/24

.

189

190

991161667.UG.FTS.B,

29.49%,

11/21/24

.

552

541

991165372.UG.FTS.B,

29.49%,

11/21/24

.

7

7

991167389.UG.FTS.B,

29.49%,

11/21/24

.

426

428

991169136.UG.FTS.B,

29.49%,

11/21/24

.

195

13

991173134.UG.FTS.B,

29.49%,

11/21/24

.

221

215

991173427.UG.FTS.B,

29.49%,

11/21/24

.

164

165

991173569.UG.FTS.B,

29.49%,

11/21/24

.

217

213

991173935.UG.FTS.B,

29.49%,

11/21/24

.

585

52

991174398.UG.FTS.B,

29.49%,

11/21/24

.

272

266

991175723.UG.FTS.B,

29.49%,

11/21/24

.

16

16

991179251.UG.FTS.B,

29.49%,

11/21/24

.

217

215

991179856.UG.FTS.B,

29.49%,

11/21/24

.

1,089

1,097

991179953.UG.FTS.B,

29.49%,

11/21/24

.

69

69

991181222.UG.FTS.B,

29.49%,

11/21/24

.

34

34

991182059.UG.FTS.B,

29.49%,

11/21/24

.

0

0

991183104.UG.FTS.B,

29.49%,

11/21/24

.

213

214

991183376.UG.FTS.B,

29.49%,

11/21/24

.

851

855

991183845.UG.FTS.B,

29.49%,

11/21/24

.

354

350

991185127.UG.FTS.B,

29.49%,

11/21/24

.

11

11

991186254.UG.FTS.B,

29.49%,

11/21/24

.

143

10

991186629.UG.FTS.B,

29.49%,

11/21/24

.

81

6

991187695.UG.FTS.B,

29.49%,

11/21/24

.

178

179

991190365.UG.FTS.B,

29.49%,

11/21/24

.

63

63

991191726.UG.FTS.B,

29.49%,

11/21/24

.

314

309

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991195171.UG.FTS.B,

29.49%,

11/21/24

.

$

603

$

608

991195967.UG.FTS.B,

29.49%,

11/21/24

.

249

250

991197725.UG.FTS.B,

29.49%,

11/21/24

.

2,249

2,265

991198120.UG.FTS.B,

29.49%,

11/21/24

.

30

30

991200536.UG.FTS.B,

29.49%,

11/21/24

.

56

56

991201781.UG.FTS.B,

29.49%,

11/21/24

.

35

3

991202777.UG.FTS.B,

29.49%,

11/21/24

.

369

27

991203877.UG.FTS.B,

29.49%,

11/21/24

.

361

24

991205361.UG.FTS.B,

29.49%,

11/21/24

.

472

60

991206819.UG.FTS.B,

29.49%,

11/21/24

.

231

229

991206897.UG.FTS.B,

29.49%,

11/21/24

.

99

99

991207432.UG.FTS.B,

29.49%,

11/21/24

.

92

12

991207792.UG.FTS.B,

29.49%,

11/21/24

.

95

95

991210220.UG.FTS.B,

29.49%,

11/21/24

.

37

36

991211481.UG.FTS.B,

29.49%,

11/21/24

.

89

89

991211923.UG.FTS.B,

29.49%,

11/21/24

.

188

14

991212070.UG.FTS.B,

29.49%,

11/21/24

.

121

9

991213432.UG.FTS.B,

29.49%,

11/21/24

.

156

157

991218959.UG.FTS.B,

29.49%,

11/21/24

.

166

167

991219638.UG.FTS.B,

29.49%,

11/21/24

.

124

123

991221067.UG.FTS.B,

29.49%,

11/21/24

.

90

89

991221868.UG.FTS.B,

29.49%,

11/21/24

.

80

80

991222533.UG.FTS.B,

29.49%,

11/21/24

.

826

817

991225320.UG.FTS.B,

29.49%,

11/21/24

.

254

256

991232712.UG.FTS.B,

29.49%,

11/21/24

.

1,265

1,249

991237507.UG.FTS.B,

29.49%,

11/21/24

.

8

8

991243146.UG.FTS.B,

29.49%,

11/21/24

.

1,651

1,634

991244603.UG.FTS.B,

29.49%,

11/21/24

.

42

41

991248040.UG.FTS.B,

29.49%,

11/21/24

.

336

332

991248570.UG.FTS.B,

29.49%,

11/21/24

.

109

7

991250511.UG.FTS.B,

29.49%,

11/21/24

.

21

21

991255779.UG.FTS.B,

29.49%,

11/21/24

.

107

106

991259033.UG.FTS.B,

29.49%,

11/21/24

.

355

351

991263744.UG.FTS.B,

29.49%,

11/21/24

.

350

347

991264912.UG.FTS.B,

29.49%,

11/21/24

.

142

141

991265780.UG.FTS.B,

29.49%,

11/21/24

.

56

55

991266684.UG.FTS.B,

29.49%,

11/21/24

.

4,138

4,096

991268256.UG.FTS.B,

29.49%,

11/21/24

.

65

65

991269668.UG.FTS.B,

29.49%,

11/21/24

.

248

245

991270231.UG.FTS.B,

29.49%,

11/21/24

.

–

–

991272123.UG.FTS.B,

29.49%,

11/21/24

.

1,202

1,185

991273052.UG.FTS.B,

29.49%,

11/21/24

.

593

583

991275188.UG.FTS.B,

29.49%,

11/21/24

.

420

416

991275695.UG.FTS.B,

29.49%,

11/21/24

.

48

47

991278138.UG.FTS.B,

29.49%,

11/21/24

.

126

125

991279084.UG.FTS.B,

29.49%,

11/21/24

.

28

28

991280041.UG.FTS.B,

29.49%,

11/21/24

.

7

7

991280045.UG.FTS.B,

29.49%,

11/21/24

.

26

26

991280082.UG.FTS.B,

29.49%,

11/21/24

.

92

92

991281064.UG.FTS.B,

29.49%,

11/21/24

.

109

7

991284824.UG.FTS.B,

29.49%,

11/21/24

.

65

64

991284917.UG.FTS.B,

29.49%,

11/21/24

.

249

22

991285479.UG.FTS.B,

29.49%,

11/21/24

.

3,227

(123)

991285608.UG.FTS.B,

29.49%,

11/21/24

.

441

437

991286129.UG.FTS.B,

29.49%,

11/21/24

.

77

77

991290359.UG.FTS.B,

29.49%,

11/21/24

.

26

25

991294280.UG.FTS.B,

29.49%,

11/21/24

.

57

56

991294521.UG.FTS.B,

29.49%,

11/21/24

.

0

0

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

316

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991295131.UG.FTS.B,

29.49%,

11/21/24

.

$

104

$

(5)

991298237.UG.FTS.B,

29.49%,

11/21/24

.

660

45

991298339.UG.FTS.B,

29.49%,

11/21/24

.

53

52

991299649.UG.FTS.B,

29.49%,

11/21/24

.

504

499

991304314.UG.FTS.B,

29.49%,

11/21/24

.

13

2

991306488.UG.FTS.B,

29.49%,

11/21/24

.

26

(1)

991126063.UG.FTS.B,

29.99%,

11/21/24

.

40

39

991099128.UG.FTS.B,

Zero

Cpn,

11/22/24

42

–

991100292.UG.FTS.B,

Zero

Cpn,

11/22/24

468

–

991103372.UG.FTS.B,

Zero

Cpn,

11/22/24

82

–

991104648.UG.FTS.B,

Zero

Cpn,

11/22/24

187

–

991110344.UG.FTS.B,

Zero

Cpn,

11/22/24

122

–

991110649.UG.FTS.B,

Zero

Cpn,

11/22/24

65

–

991111108.UG.FTS.B,

Zero

Cpn,

11/22/24

118

–

991111223.UG.FTS.B,

Zero

Cpn,

11/22/24

111

–

991113115.UG.FTS.B,

Zero

Cpn,

11/22/24

48

–

991125788.UG.FTS.B,

Zero

Cpn,

11/22/24

2,241

–

991178696.UG.FTS.B,

Zero

Cpn,

11/22/24

140

–

991186290.UG.FTS.B,

Zero

Cpn,

11/22/24

98

–

991196628.UG.FTS.B,

Zero

Cpn,

11/22/24

300

–

991221898.UG.FTS.B,

Zero

Cpn,

11/22/24

166

–

991253539.UG.FTS.B,

Zero

Cpn,

11/22/24

367

–

991279437.UG.FTS.B,

Zero

Cpn,

11/22/24

107

–

991292508.UG.FTS.B,

Zero

Cpn,

11/22/24

123

–

991295048.UG.FTS.B,

Zero

Cpn,

11/22/24

443

–

991114211.UG.FTS.B,

18.97%,

11/22/24

..

573

566

991122742.UG.FTS.B,

18.97%,

11/22/24

.

197

195

991125689.UG.FTS.B,

18.97%,

11/22/24

.

266

263

991128573.UG.FTS.B,

18.97%,

11/22/24

.

1,521

281

991135300.UG.FTS.B,

18.97%,

11/22/24

.

1,732

1,712

991154003.UG.FTS.B,

18.97%,

11/22/24

.

956

945

991187405.UG.FTS.B,

18.97%,

11/22/24

.

–

–

991239632.UG.FTS.B,

18.97%,

11/22/24

.

4,120

4,072

991118023.UG.FTS.B,

19.21%,

11/22/24

..

214

211

991119286.UG.FTS.B,

19.21%,

11/22/24

..

830

819

991119833.UG.FTS.B,

19.21%,

11/22/24

..

993

980

991130934.UG.FTS.B,

19.21%,

11/22/24

.

6

6

991199042.UG.FTS.B,

19.21%,

11/22/24

.

760

751

991099503.UG.FTS.B,

19.8%,

11/22/24

..

1,592

1,569

991115137.UG.FTS.B,

19.8%,

11/22/24

...

174

173

991191076.UG.FTS.B,

19.8%,

11/22/24

..

1,017

121

991100157.UG.FTS.B,

19.99%,

11/22/24

.

173

174

991102712.UG.FTS.B,

19.99%,

11/22/24

.

35

34

991103401.UG.FTS.B,

19.99%,

11/22/24

.

567

570

991105077.UG.FTS.B,

19.99%,

11/22/24

.

9

9

991110230.UG.FTS.B,

19.99%,

11/22/24

..

1,260

88

991118336.UG.FTS.B,

19.99%,

11/22/24

..

169

13

991121665.UG.FTS.B,

19.99%,

11/22/24

.

119

119

991132324.UG.FTS.B,

19.99%,

11/22/24

.

248

249

991134545.UG.FTS.B,

19.99%,

11/22/24

.

1,330

1,338

991157348.UG.FTS.B,

19.99%,

11/22/24

.

474

477

991166717.UG.FTS.B,

19.99%,

11/22/24

.

286

288

991181160.UG.FTS.B,

19.99%,

11/22/24

..

782

785

991214703.UG.FTS.B,

19.99%,

11/22/24

.

1,131

1,118

991227531.UG.FTS.B,

19.99%,

11/22/24

.

865

858

991271550.UG.FTS.B,

19.99%,

11/22/24

.

926

916

991279794.UG.FTS.B,

19.99%,

11/22/24

.

508

503

991118572.UG.FTS.B,

20.46%,

11/22/24

..

863

850

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991183733.UG.FTS.B,

20.46%,

11/22/24

.

$

644

$

635

991204119.UG.FTS.B,

20.46%,

11/22/24

.

66

65

991204253.UG.FTS.B,

20.46%,

11/22/24

.

147

145

991213596.UG.FTS.B,

20.46%,

11/22/24

.

3,442

3,394

991246393.UG.FTS.B,

20.46%,

11/22/24

.

538

530

991264667.UG.FTS.B,

20.46%,

11/22/24

.

119

116

991264755.UG.FTS.B,

20.46%,

11/22/24

.

172

169

991286438.UG.FTS.B,

20.46%,

11/22/24

.

231

227

991267133.UG.FTS.B,

20.97%,

11/22/24

.

254

248

991099376.UG.FTS.B,

21.46%,

11/22/24

.

498

34

991100438.UG.FTS.B,

21.46%,

11/22/24

.

0

0

991103520.UG.FTS.B,

21.46%,

11/22/24

.

2,190

425

991103945.UG.FTS.B,

21.46%,

11/22/24

.

36

36

991104711.UG.FTS.B,

21.46%,

11/22/24

..

268

263

991110966.UG.FTS.B,

21.46%,

11/22/24

..

781

768

991113408.UG.FTS.B,

21.46%,

11/22/24

..

150

147

991113844.UG.FTS.B,

21.46%,

11/22/24

..

166

163

991118422.UG.FTS.B,

21.46%,

11/22/24

..

2,075

2,041

991131049.UG.FTS.B,

21.46%,

11/22/24

.

237

233

991153278.UG.FTS.B,

21.46%,

11/22/24

.

341

25

991173108.UG.FTS.B,

21.46%,

11/22/24

.

164

161

991215119.UG.FTS.B,

21.46%,

11/22/24

.

824

809

991216679.UG.FTS.B,

21.46%,

11/22/24

.

561

547

991230438.UG.FTS.B,

21.46%,

11/22/24

.

617

(3)

991113745.UG.FTS.B,

21.97%,

11/22/24

..

1,507

1,481

991099821.UG.FTS.B,

21.98%,

11/22/24

.

309

303

991100432.UG.FTS.B,

21.98%,

11/22/24

.

641

44

991116000.UG.FTS.B,

21.98%,

11/22/24

..

452

445

991127574.UG.FTS.B,

21.98%,

11/22/24

.

839

825

991133212.UG.FTS.B,

21.98%,

11/22/24

.

540

531

991285026.UG.FTS.B,

21.98%,

11/22/24

.

136

133

991101812.UG.FTS.B,

22.95%,

11/22/24

.

180

116

991118260.UG.FTS.B,

22.95%,

11/22/24

..

978

632

991100723.UG.FTS.B,

22.97%,

11/22/24

.

181

178

991152068.UG.FTS.B,

22.97%,

11/22/24

.

91

6

991196292.UG.FTS.B,

22.97%,

11/22/24

.

234

230

991124752.UG.FTS.B,

23.95%,

11/22/24

.

168

165

991145298.UG.FTS.B,

23.95%,

11/22/24

.

999

127

991272573.UG.FTS.B,

23.95%,

11/22/24

.

546

530

991115405.UG.FTS.B,

25.94%,

11/22/24

..

495

34

991238426.UG.FTS.B,

25.94%,

11/22/24

.

401

392

991166382.UG.FTS.B,

26.94%,

11/22/24

.

144

141

991180574.UG.FTS.B,

26.94%,

11/22/24

.

356

349

991295104.UG.FTS.B,

26.94%,

11/22/24

.

124

120

991101777.UG.FTS.B,

27.99%,

11/22/24

.

215

216

991104265.UG.FTS.B,

27.99%,

11/22/24

.

3,086

3,087

991110516.UG.FTS.B,

27.99%,

11/22/24

..

1,276

1,264

991115779.UG.FTS.B,

27.99%,

11/22/24

..

1,207

1,208

991131379.UG.FTS.B,

27.99%,

11/22/24

.

0

0

991161584.UG.FTS.B,

27.99%,

11/22/24

.

151

10

991163793.UG.FTS.B,

27.99%,

11/22/24

.

306

308

991193135.UG.FTS.B,

27.99%,

11/22/24

.

118

117

991098281.UG.FTS.B,

28.98%,

11/22/24

.

1,401

182

991098772.UG.FTS.B,

28.98%,

11/22/24

.

1,085

1,076

991098828.UG.FTS.B,

28.98%,

11/22/24

.

717

710

991098840.UG.FTS.B,

28.98%,

11/22/24

.

0

0

991099511.UG.FTS.B,

28.98%,

11/22/24

.

986

990

991099542.UG.FTS.B,

28.98%,

11/22/24

.

16

16

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

317

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991099746.UG.FTS.B,

28.98%,

11/22/24

.

$

0

$

0

991100308.UG.FTS.B,

28.98%,

11/22/24

.

28

24

991100358.UG.FTS.B,

28.98%,

11/22/24

.

438

440

991100836.UG.FTS.B,

28.98%,

11/22/24

.

633

636

991102689.UG.FTS.B,

28.98%,

11/22/24

.

95

94

991102922.UG.FTS.B,

28.98%,

11/22/24

.

523

526

991102964.UG.FTS.B,

28.98%,

11/22/24

.

193

194

991103009.UG.FTS.B,

28.98%,

11/22/24

.

313

314

991103706.UG.FTS.B,

28.98%,

11/22/24

.

1,887

1,896

991103849.UG.FTS.B,

28.98%,

11/22/24

.

460

462

991104196.UG.FTS.B,

28.98%,

11/22/24

.

348

346

991104456.UG.FTS.B,

28.98%,

11/22/24

.

1,562

1,554

991104504.UG.FTS.B,

28.98%,

11/22/24

.

343

343

991104523.UG.FTS.B,

28.98%,

11/22/24

.

206

16

991104537.UG.FTS.B,

28.98%,

11/22/24

.

155

11

991104641.UG.FTS.B,

28.98%,

11/22/24

.

140

139

991104768.UG.FTS.B,

28.98%,

11/22/24

.

122

16

991104984.UG.FTS.B,

28.98%,

11/22/24

.

52

51

991105023.UG.FTS.B,

28.98%,

11/22/24

.

3,862

3,882

991105794.UG.FTS.B,

28.98%,

11/22/24

.

1,652

1,660

991105913.UG.FTS.B,

28.98%,

11/22/24

.

57

56

991106035.UG.FTS.B,

28.98%,

11/22/24

.

181

182

991106304.UG.FTS.B,

28.98%,

11/22/24

.

339

340

991106358.UG.FTS.B,

28.98%,

11/22/24

.

359

355

991107161.UG.FTS.B,

28.98%,

11/22/24

.

111

110

991107556.UG.FTS.B,

28.98%,

11/22/24

.

883

875

991107575.UG.FTS.B,

28.98%,

11/22/24

.

379

379

991107921.UG.FTS.B,

28.98%,

11/22/24

.

2,116

2,117

991109919.UG.FTS.B,

28.98%,

11/22/24

.

27

5

991110155.UG.FTS.B,

28.98%,

11/22/24

..

225

223

991110358.UG.FTS.B,

28.98%,

11/22/24

..

202

201

991110618.UG.FTS.B,

28.98%,

11/22/24

..

101

102

991110667.UG.FTS.B,

28.98%,

11/22/24

..

42

42

991110719.UG.FTS.B,

28.98%,

11/22/24

..

183

184

991111928.UG.FTS.B,

28.98%,

11/22/24

..

1,021

661

991112731.UG.FTS.B,

28.98%,

11/22/24

..

74

73

991115061.UG.FTS.B,

28.98%,

11/22/24

..

149

149

991116602.UG.FTS.B,

28.98%,

11/22/24

..

562

565

991116973.UG.FTS.B,

28.98%,

11/22/24

..

393

394

991117549.UG.FTS.B,

28.98%,

11/22/24

..

118

118

991117683.UG.FTS.B,

28.98%,

11/22/24

..

0

0

991118128.UG.FTS.B,

28.98%,

11/22/24

..

2,679

2,651

991121376.UG.FTS.B,

28.98%,

11/22/24

.

111

109

991121466.UG.FTS.B,

28.98%,

11/22/24

.

160

161

991122119.UG.FTS.B,

28.98%,

11/22/24

..

102

103

991122717.UG.FTS.B,

28.98%,

11/22/24

.

101

102

991122763.UG.FTS.B,

28.98%,

11/22/24

.

14

14

991123827.UG.FTS.B,

28.98%,

11/22/24

.

901

892

991124659.UG.FTS.B,

28.98%,

11/22/24

.

97

95

991124865.UG.FTS.B,

28.98%,

11/22/24

.

151

97

991125590.UG.FTS.B,

28.98%,

11/22/24

.

106

106

991125680.UG.FTS.B,

28.98%,

11/22/24

.

43

43

991126345.UG.FTS.B,

28.98%,

11/22/24

.

48

48

991127203.UG.FTS.B,

28.98%,

11/22/24

.

292

21

991127224.UG.FTS.B,

28.98%,

11/22/24

.

856

860

991127481.UG.FTS.B,

28.98%,

11/22/24

.

856

851

991127588.UG.FTS.B,

28.98%,

11/22/24

.

116

116

991128896.UG.FTS.B,

28.98%,

11/22/24

.

743

489

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991128908.UG.FTS.B,

28.98%,

11/22/24

.

$

198

$

199

991129747.UG.FTS.B,

28.98%,

11/22/24

.

10

10

991130694.UG.FTS.B,

28.98%,

11/22/24

.

51

50

991131367.UG.FTS.B,

28.98%,

11/22/24

.

547

548

991131812.UG.FTS.B,

28.98%,

11/22/24

.

209

210

991132839.UG.FTS.B,

28.98%,

11/22/24

.

154

155

991132905.UG.FTS.B,

28.98%,

11/22/24

.

339

333

991133284.UG.FTS.B,

28.98%,

11/22/24

.

29

29

991134808.UG.FTS.B,

28.98%,

11/22/24

.

709

702

991135689.UG.FTS.B,

28.98%,

11/22/24

.

619

622

991136765.UG.FTS.B,

28.98%,

11/22/24

.

927

927

991137116.UG.FTS.B,

28.98%,

11/22/24

..

658

660

991137246.UG.FTS.B,

28.98%,

11/22/24

.

825

822

991139063.UG.FTS.B,

28.98%,

11/22/24

.

45

44

991139408.UG.FTS.B,

28.98%,

11/22/24

.

113

113

991140026.UG.FTS.B,

28.98%,

11/22/24

.

1,372

93

991141726.UG.FTS.B,

28.98%,

11/22/24

.

7

7

991143616.UG.FTS.B,

28.98%,

11/22/24

.

508

511

991143933.UG.FTS.B,

28.98%,

11/22/24

.

439

441

991147010.UG.FTS.B,

28.98%,

11/22/24

.

106

106

991147828.UG.FTS.B,

28.98%,

11/22/24

.

0

0

991147880.UG.FTS.B,

28.98%,

11/22/24

.

59

58

991147942.UG.FTS.B,

28.98%,

11/22/24

.

2,153

2,164

991149223.UG.FTS.B,

28.98%,

11/22/24

.

112

112

991149451.UG.FTS.B,

28.98%,

11/22/24

.

854

858

991149743.UG.FTS.B,

28.98%,

11/22/24

.

27

27

991152381.UG.FTS.B,

28.98%,

11/22/24

.

207

206

991152665.UG.FTS.B,

28.98%,

11/22/24

.

2,134

2,144

991153364.UG.FTS.B,

28.98%,

11/22/24

.

613

616

991154869.UG.FTS.B,

28.98%,

11/22/24

.

253

251

991156074.UG.FTS.B,

28.98%,

11/22/24

.

232

232

991156523.UG.FTS.B,

28.98%,

11/22/24

.

269

267

991158354.UG.FTS.B,

28.98%,

11/22/24

.

27

26

991159179.UG.FTS.B,

28.98%,

11/22/24

.

463

465

991161581.UG.FTS.B,

28.98%,

11/22/24

.

638

639

991162076.UG.FTS.B,

28.98%,

11/22/24

.

265

263

991162865.UG.FTS.B,

28.98%,

11/22/24

.

167

166

991162927.UG.FTS.B,

28.98%,

11/22/24

.

10

10

991163227.UG.FTS.B,

28.98%,

11/22/24

.

481

484

991163493.UG.FTS.B,

28.98%,

11/22/24

.

0

0

991163510.UG.FTS.B,

28.98%,

11/22/24

.

407

403

991163764.UG.FTS.B,

28.98%,

11/22/24

.

186

184

991167377.UG.FTS.B,

28.98%,

11/22/24

.

256

257

991169488.UG.FTS.B,

28.98%,

11/22/24

.

298

300

991169914.UG.FTS.B,

28.98%,

11/22/24

.

426

428

991171489.UG.FTS.B,

28.98%,

11/22/24

.

276

276

991173036.UG.FTS.B,

28.98%,

11/22/24

.

107

108

991173716.UG.FTS.B,

28.98%,

11/22/24

.

1,052

1,054

991174929.UG.FTS.B,

28.98%,

11/22/24

.

49

48

991175168.UG.FTS.B,

28.98%,

11/22/24

.

10

10

991176204.UG.FTS.B,

28.98%,

11/22/24

.

1,395

1,395

991177122.UG.FTS.B,

28.98%,

11/22/24

.

3,159

3,114

991179841.UG.FTS.B,

28.98%,

11/22/24

.

231

229

991180530.UG.FTS.B,

28.98%,

11/22/24

.

269

271

991184097.UG.FTS.B,

28.98%,

11/22/24

.

322

324

991184113.UG.FTS.B,

28.98%,

11/22/24

..

2,944

2,939

991188559.UG.FTS.B,

28.98%,

11/22/24

.

17

17

991188676.UG.FTS.B,

28.98%,

11/22/24

.

999

997

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

318

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991190899.UG.FTS.B,

28.98%,

11/22/24

.

$

210

$

(4)

991195368.UG.FTS.B,

28.98%,

11/22/24

.

113

113

991195764.UG.FTS.B,

28.98%,

11/22/24

.

121

122

991197771.UG.FTS.B,

28.98%,

11/22/24

.

194

195

991201198.UG.FTS.B,

28.98%,

11/22/24

.

33

33

991204158.UG.FTS.B,

28.98%,

11/22/24

.

299

298

991209135.UG.FTS.B,

28.98%,

11/22/24

.

1,115

1,101

991213039.UG.FTS.B,

28.98%,

11/22/24

.

64

4

991216209.UG.FTS.B,

28.98%,

11/22/24

.

830

833

991218606.UG.FTS.B,

28.98%,

11/22/24

.

543

545

991219493.UG.FTS.B,

28.98%,

11/22/24

.

190

189

991220323.UG.FTS.B,

28.98%,

11/22/24

.

157

155

991220798.UG.FTS.B,

28.98%,

11/22/24

.

136

136

991221923.UG.FTS.B,

28.98%,

11/22/24

.

222

220

991223543.UG.FTS.B,

28.98%,

11/22/24

.

148

146

991223597.UG.FTS.B,

28.98%,

11/22/24

.

252

250

991223823.UG.FTS.B,

28.98%,

11/22/24

.

105

104

991224181.UG.FTS.B,

28.98%,

11/22/24

.

1

1

991224363.UG.FTS.B,

28.98%,

11/22/24

.

381

382

991224526.UG.FTS.B,

28.98%,

11/22/24

.

279

278

991228177.UG.FTS.B,

28.98%,

11/22/24

.

157

158

991228922.UG.FTS.B,

28.98%,

11/22/24

.

163

163

991230477.UG.FTS.B,

28.98%,

11/22/24

.

330

332

991234896.UG.FTS.B,

28.98%,

11/22/24

.

572

567

991235776.UG.FTS.B,

28.98%,

11/22/24

.

83

83

991236876.UG.FTS.B,

28.98%,

11/22/24

.

5

5

991238171.UG.FTS.B,

28.98%,

11/22/24

.

194

192

991240071.UG.FTS.B,

28.98%,

11/22/24

.

245

246

991240106.UG.FTS.B,

28.98%,

11/22/24

.

258

17

991240407.UG.FTS.B,

28.98%,

11/22/24

.

677

663

991241132.UG.FTS.B,

28.98%,

11/22/24

.

9

8

991244059.UG.FTS.B,

28.98%,

11/22/24

.

664

654

991246872.UG.FTS.B,

28.98%,

11/22/24

.

843

835

991251324.UG.FTS.B,

28.98%,

11/22/24

.

123

123

991255263.UG.FTS.B,

28.98%,

11/22/24

.

173

172

991260490.UG.FTS.B,

28.98%,

11/22/24

.

564

554

991260952.UG.FTS.B,

28.98%,

11/22/24

.

105

104

991261138.UG.FTS.B,

28.98%,

11/22/24

.

0

0

991261500.UG.FTS.B,

28.98%,

11/22/24

.

183

181

991262138.UG.FTS.B,

28.98%,

11/22/24

.

171

170

991266288.UG.FTS.B,

28.98%,

11/22/24

.

506

501

991266543.UG.FTS.B,

28.98%,

11/22/24

.

93

91

991267570.UG.FTS.B,

28.98%,

11/22/24

.

83

83

991269175.UG.FTS.B,

28.98%,

11/22/24

.

116

114

991277025.UG.FTS.B,

28.98%,

11/22/24

.

253

250

991279336.UG.FTS.B,

28.98%,

11/22/24

.

72

71

991281415.UG.FTS.B,

28.98%,

11/22/24

.

29

28

991282371.UG.FTS.B,

28.98%,

11/22/24

.

46

46

991285253.UG.FTS.B,

28.98%,

11/22/24

.

439

434

991285685.UG.FTS.B,

28.98%,

11/22/24

.

842

834

991291345.UG.FTS.B,

28.98%,

11/22/24

.

159

157

991296391.UG.FTS.B,

28.98%,

11/22/24

.

56

4

991297301.UG.FTS.B,

28.98%,

11/22/24

.

207

205

991297896.UG.FTS.B,

28.98%,

11/22/24

.

4,374

4,352

991299119.UG.FTS.B,

28.98%,

11/22/24

.

82

11

991299270.UG.FTS.B,

28.98%,

11/22/24

.

841

833

991299458.UG.FTS.B,

28.98%,

11/22/24

.

630

624

991300750.UG.FTS.B,

28.98%,

11/22/24

.

66

9

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991301362.UG.FTS.B,

28.98%,

11/22/24

.

$

358

$

352

991302261.UG.FTS.B,

28.98%,

11/22/24

.

52

51

991304220.UG.FTS.B,

28.98%,

11/22/24

.

134

133

991304298.UG.FTS.B,

28.98%,

11/22/24

.

690

683

991306198.UG.FTS.B,

28.98%,

11/22/24

.

278

276

991307686.UG.FTS.B,

28.98%,

11/22/24

.

246

243

991311847.UG.FTS.B,

28.98%,

11/22/24

.

286

188

991312199.UG.FTS.B,

28.98%,

11/22/24

.

47

46

991103252.UG.FTS.B,

29.46%,

11/22/24

.

570

562

991163125.UG.FTS.B,

29.46%,

11/22/24

.

–

–

991098562.UG.FTS.B,

29.49%,

11/22/24

.

671

671

991098827.UG.FTS.B,

29.49%,

11/22/24

.

0

0

991099101.UG.FTS.B,

29.49%,

11/22/24

.

108

108

991099341.UG.FTS.B,

29.49%,

11/22/24

.

52

52

991099346.UG.FTS.B,

29.49%,

11/22/24

.

14

14

991099717.UG.FTS.B,

29.49%,

11/22/24

.

390

386

991099956.UG.FTS.B,

29.49%,

11/22/24

.

189

14

991100054.UG.FTS.B,

29.49%,

11/22/24

.

664

668

991100240.UG.FTS.B,

29.49%,

11/22/24

.

18

3

991100376.UG.FTS.B,

29.49%,

11/22/24

.

363

354

991100404.UG.FTS.B,

29.49%,

11/22/24

.

244

245

991100501.UG.FTS.B,

29.49%,

11/22/24

.

206

206

991100555.UG.FTS.B,

29.49%,

11/22/24

.

1,172

1,178

991100639.UG.FTS.B,

29.49%,

11/22/24

.

25

25

991101741.UG.FTS.B,

29.49%,

11/22/24

.

115

15

991101745.UG.FTS.B,

29.49%,

11/22/24

.

53

(2)

991101821.UG.FTS.B,

29.49%,

11/22/24

.

853

857

991101836.UG.FTS.B,

29.49%,

11/22/24

.

3

3

991102587.UG.FTS.B,

29.49%,

11/22/24

.

387

389

991102722.UG.FTS.B,

29.49%,

11/22/24

.

55

54

991102779.UG.FTS.B,

29.49%,

11/22/24

.

66

65

991102822.UG.FTS.B,

29.49%,

11/22/24

.

426

29

991102823.UG.FTS.B,

29.49%,

11/22/24

.

139

139

991103134.UG.FTS.B,

29.49%,

11/22/24

.

60

59

991103303.UG.FTS.B,

29.49%,

11/22/24

.

270

272

991103486.UG.FTS.B,

29.49%,

11/22/24

.

69

68

991103513.UG.FTS.B,

29.49%,

11/22/24

.

63

62

991103606.UG.FTS.B,

29.49%,

11/22/24

.

417

33

991103722.UG.FTS.B,

29.49%,

11/22/24

.

8

8

991103862.UG.FTS.B,

29.49%,

11/22/24

.

361

363

991103865.UG.FTS.B,

29.49%,

11/22/24

.

640

640

991104396.UG.FTS.B,

29.49%,

11/22/24

.

180

182

991104826.UG.FTS.B,

29.49%,

11/22/24

.

91

62

991104894.UG.FTS.B,

29.49%,

11/22/24

.

40

39

991105467.UG.FTS.B,

29.49%,

11/22/24

.

35

35

991105680.UG.FTS.B,

29.49%,

11/22/24

.

173

174

991106222.UG.FTS.B,

29.49%,

11/22/24

.

3,658

3,602

991106379.UG.FTS.B,

29.49%,

11/22/24

.

194

13

991106794.UG.FTS.B,

29.49%,

11/22/24

.

325

323

991107019.UG.FTS.B,

29.49%,

11/22/24

.

248

243

991107152.UG.FTS.B,

29.49%,

11/22/24

.

212

214

991107154.UG.FTS.B,

29.49%,

11/22/24

.

610

613

991107277.UG.FTS.B,

29.49%,

11/22/24

.

53

52

991107318.UG.FTS.B,

29.49%,

11/22/24

.

934

938

991107393.UG.FTS.B,

29.49%,

11/22/24

.

1,528

212

991107494.UG.FTS.B,

29.49%,

11/22/24

.

302

301

991107585.UG.FTS.B,

29.49%,

11/22/24

.

1,303

102

991107833.UG.FTS.B,

29.49%,

11/22/24

.

423

32

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

319

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991108083.UG.FTS.B,

29.49%,

11/22/24

.

$

232

$

233

991108088.UG.FTS.B,

29.49%,

11/22/24

.

555

549

991108800.UG.FTS.B,

29.49%,

11/22/24

.

311

310

991108957.UG.FTS.B,

29.49%,

11/22/24

.

118

117

991109049.UG.FTS.B,

29.49%,

11/22/24

.

634

638

991109271.UG.FTS.B,

29.49%,

11/22/24

.

252

252

991109483.UG.FTS.B,

29.49%,

11/22/24

.

450

450

991109586.UG.FTS.B,

29.49%,

11/22/24

.

545

547

991109990.UG.FTS.B,

29.49%,

11/22/24

.

391

392

991110027.UG.FTS.B,

29.49%,

11/22/24

..

65

65

991110287.UG.FTS.B,

29.49%,

11/22/24

..

21

21

991110330.UG.FTS.B,

29.49%,

11/22/24

..

443

(24)

991110632.UG.FTS.B,

29.49%,

11/22/24

..

24

24

991111182.UG.FTS.B,

29.49%,

11/22/24

..

30

29

991111833.UG.FTS.B,

29.49%,

11/22/24

..

66

10

991112073.UG.FTS.B,

29.49%,

11/22/24

..

285

286

991112419.UG.FTS.B,

29.49%,

11/22/24

..

353

77

991112519.UG.FTS.B,

29.49%,

11/22/24

..

529

530

991112533.UG.FTS.B,

29.49%,

11/22/24

..

276

20

991112757.UG.FTS.B,

29.49%,

11/22/24

..

115

114

991112758.UG.FTS.B,

29.49%,

11/22/24

..

314

314

991113516.UG.FTS.B,

29.49%,

11/22/24

..

199

198

991114226.UG.FTS.B,

29.49%,

11/22/24

..

365

57

991114614.UG.FTS.B,

29.49%,

11/22/24

..

134

132

991114905.UG.FTS.B,

29.49%,

11/22/24

..

106

7

991116006.UG.FTS.B,

29.49%,

11/22/24

..

95

7

991116156.UG.FTS.B,

29.49%,

11/22/24

..

140

139

991116743.UG.FTS.B,

29.49%,

11/22/24

..

310

306

991116852.UG.FTS.B,

29.49%,

11/22/24

..

82

82

991116896.UG.FTS.B,

29.49%,

11/22/24

..

209

210

991117593.UG.FTS.B,

29.49%,

11/22/24

..

50

50

991117611.UG.FTS.B,

29.49%,

11/22/24

..

37

37

991117809.UG.FTS.B,

29.49%,

11/22/24

..

278

280

991119993.UG.FTS.B,

29.49%,

11/22/24

..

256

258

991120831.UG.FTS.B,

29.49%,

11/22/24

.

129

130

991120837.UG.FTS.B,

29.49%,

11/22/24

.

1,264

1,272

991121290.UG.FTS.B,

29.49%,

11/22/24

.

40

40

991122279.UG.FTS.B,

29.49%,

11/22/24

.

251

247

991122355.UG.FTS.B,

29.49%,

11/22/24

.

98

7

991122380.UG.FTS.B,

29.49%,

11/22/24

.

234

236

991122835.UG.FTS.B,

29.49%,

11/22/24

.

1,784

1,788

991123695.UG.FTS.B,

29.49%,

11/22/24

.

483

485

991123820.UG.FTS.B,

29.49%,

11/22/24

.

544

547

991124015.UG.FTS.B,

29.49%,

11/22/24

.

405

406

991124721.UG.FTS.B,

29.49%,

11/22/24

.

295

297

991125303.UG.FTS.B,

29.49%,

11/22/24

.

177

178

991126049.UG.FTS.B,

29.49%,

11/22/24

.

81

81

991126056.UG.FTS.B,

29.49%,

11/22/24

.

17

17

991128623.UG.FTS.B,

29.49%,

11/22/24

.

27

27

991128630.UG.FTS.B,

29.49%,

11/22/24

.

275

277

991129931.UG.FTS.B,

29.49%,

11/22/24

.

25

25

991130950.UG.FTS.B,

29.49%,

11/22/24

.

70

69

991132446.UG.FTS.B,

29.49%,

11/22/24

.

126

124

991133333.UG.FTS.B,

29.49%,

11/22/24

.

64

64

991133526.UG.FTS.B,

29.49%,

11/22/24

.

771

771

991134505.UG.FTS.B,

29.49%,

11/22/24

.

637

638

991136391.UG.FTS.B,

29.49%,

11/22/24

.

230

228

991137652.UG.FTS.B,

29.49%,

11/22/24

.

103

69

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991138174.UG.FTS.B,

29.49%,

11/22/24

.

$

244

$

245

991138935.UG.FTS.B,

29.49%,

11/22/24

.

49

49

991139223.UG.FTS.B,

29.49%,

11/22/24

.

773

107

991139339.UG.FTS.B,

29.49%,

11/22/24

.

2,935

2,924

991139541.UG.FTS.B,

29.49%,

11/22/24

.

875

882

991140042.UG.FTS.B,

29.49%,

11/22/24

.

124

124

991140957.UG.FTS.B,

29.49%,

11/22/24

.

180

178

991141109.UG.FTS.B,

29.49%,

11/22/24

..

62

62

991141211.UG.FTS.B,

29.49%,

11/22/24

..

414

405

991141918.UG.FTS.B,

29.49%,

11/22/24

.

1,712

1,721

991144588.UG.FTS.B,

29.49%,

11/22/24

.

321

324

991145348.UG.FTS.B,

29.49%,

11/22/24

.

5

5

991146799.UG.FTS.B,

29.49%,

11/22/24

.

84

84

991147772.UG.FTS.B,

29.49%,

11/22/24

.

529

36

991148239.UG.FTS.B,

29.49%,

11/22/24

.

854

859

991149855.UG.FTS.B,

29.49%,

11/22/24

.

593

596

991150574.UG.FTS.B,

29.49%,

11/22/24

.

261

258

991150981.UG.FTS.B,

29.49%,

11/22/24

.

143

121

991151493.UG.FTS.B,

29.49%,

11/22/24

.

55

4

991151592.UG.FTS.B,

29.49%,

11/22/24

.

34

34

991151922.UG.FTS.B,

29.49%,

11/22/24

.

122

123

991153215.UG.FTS.B,

29.49%,

11/22/24

.

206

205

991153231.UG.FTS.B,

29.49%,

11/22/24

.

103

103

991153822.UG.FTS.B,

29.49%,

11/22/24

.

233

235

991155428.UG.FTS.B,

29.49%,

11/22/24

.

94

93

991155708.UG.FTS.B,

29.49%,

11/22/24

.

533

536

991156817.UG.FTS.B,

29.49%,

11/22/24

.

3,192

217

991156880.UG.FTS.B,

29.49%,

11/22/24

.

268

270

991158055.UG.FTS.B,

29.49%,

11/22/24

.

528

531

991158534.UG.FTS.B,

29.49%,

11/22/24

.

333

326

991158905.UG.FTS.B,

29.49%,

11/22/24

.

372

364

991158946.UG.FTS.B,

29.49%,

11/22/24

.

137

134

991160748.UG.FTS.B,

29.49%,

11/22/24

.

344

48

991162354.UG.FTS.B,

29.49%,

11/22/24

.

180

179

991162836.UG.FTS.B,

29.49%,

11/22/24

.

53

52

991162973.UG.FTS.B,

29.49%,

11/22/24

.

79

79

991166135.UG.FTS.B,

29.49%,

11/22/24

.

142

141

991166783.UG.FTS.B,

29.49%,

11/22/24

.

394

27

991167111.UG.FTS.B,

29.49%,

11/22/24

..

430

431

991168635.UG.FTS.B,

29.49%,

11/22/24

.

120

120

991168948.UG.FTS.B,

29.49%,

11/22/24

.

895

892

991169210.UG.FTS.B,

29.49%,

11/22/24

.

382

382

991170549.UG.FTS.B,

29.49%,

11/22/24

.

32

27

991173886.UG.FTS.B,

29.49%,

11/22/24

.

811

812

991173914.UG.FTS.B,

29.49%,

11/22/24

.

97

97

991174146.UG.FTS.B,

29.49%,

11/22/24

.

144

145

991174310.UG.FTS.B,

29.49%,

11/22/24

.

554

547

991175019.UG.FTS.B,

29.49%,

11/22/24

.

333

335

991175535.UG.FTS.B,

29.49%,

11/22/24

.

197

195

991176814.UG.FTS.B,

29.49%,

11/22/24

.

1,448

1,455

991177387.UG.FTS.B,

29.49%,

11/22/24

.

355

241

991177459.UG.FTS.B,

29.49%,

11/22/24

.

1,004

998

991178964.UG.FTS.B,

29.49%,

11/22/24

.

227

228

991179561.UG.FTS.B,

29.49%,

11/22/24

.

115

114

991180237.UG.FTS.B,

29.49%,

11/22/24

.

33

32

991181818.UG.FTS.B,

29.49%,

11/22/24

.

185

184

991181978.UG.FTS.B,

29.49%,

11/22/24

.

116

8

991182736.UG.FTS.B,

29.49%,

11/22/24

.

156

157

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

320

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991184193.UG.FTS.B,

29.49%,

11/22/24

.

$

375

$

230

991184452.UG.FTS.B,

29.49%,

11/22/24

.

647

643

991187389.UG.FTS.B,

29.49%,

11/22/24

.

176

13

991189207.UG.FTS.B,

29.49%,

11/22/24

.

271

272

991189601.UG.FTS.B,

29.49%,

11/22/24

.

221

17

991191963.UG.FTS.B,

29.49%,

11/22/24

.

450

447

991195371.UG.FTS.B,

29.49%,

11/22/24

.

373

373

991195991.UG.FTS.B,

29.49%,

11/22/24

.

170

170

991196497.UG.FTS.B,

29.49%,

11/22/24

.

97

95

991201952.UG.FTS.B,

29.49%,

11/22/24

.

309

21

991206669.UG.FTS.B,

29.49%,

11/22/24

.

153

151

991208520.UG.FTS.B,

29.49%,

11/22/24

.

145

144

991208944.UG.FTS.B,

29.49%,

11/22/24

.

7

7

991209672.UG.FTS.B,

29.49%,

11/22/24

.

168

(6)

991211943.UG.FTS.B,

29.49%,

11/22/24

.

254

55

991217210.UG.FTS.B,

29.49%,

11/22/24

.

254

256

991217394.UG.FTS.B,

29.49%,

11/22/24

.

170

171

991219101.UG.FTS.B,

29.49%,

11/22/24

.

101

100

991220143.UG.FTS.B,

29.49%,

11/22/24

.

0

0

991222931.UG.FTS.B,

29.49%,

11/22/24

.

2,017

2,015

991223979.UG.FTS.B,

29.49%,

11/22/24

.

100

100

991224493.UG.FTS.B,

29.49%,

11/22/24

.

83

20

991225553.UG.FTS.B,

29.49%,

11/22/24

.

254

256

991227864.UG.FTS.B,

29.49%,

11/22/24

.

34

33

991229296.UG.FTS.B,

29.49%,

11/22/24

.

122

120

991229961.UG.FTS.B,

29.49%,

11/22/24

.

15

15

991230562.UG.FTS.B,

29.49%,

11/22/24

.

121

8

991231823.UG.FTS.B,

29.49%,

11/22/24

.

949

(9)

991235969.UG.FTS.B,

29.49%,

11/22/24

.

292

294

991236637.UG.FTS.B,

29.49%,

11/22/24

.

94

94

991239074.UG.FTS.B,

29.49%,

11/22/24

.

111

15

991239091.UG.FTS.B,

29.49%,

11/22/24

.

916

902

991241546.UG.FTS.B,

29.49%,

11/22/24

.

320

318

991243773.UG.FTS.B,

29.49%,

11/22/24

.

97

97

991244847.UG.FTS.B,

29.49%,

11/22/24

.

76

74

991245259.UG.FTS.B,

29.49%,

11/22/24

.

143

144

991245820.UG.FTS.B,

29.49%,

11/22/24

.

514

516

991246182.UG.FTS.B,

29.49%,

11/22/24

.

43

42

991255887.UG.FTS.B,

29.49%,

11/22/24

.

170

168

991259852.UG.FTS.B,

29.49%,

11/22/24

.

57

57

991266048.UG.FTS.B,

29.49%,

11/22/24

.

167

165

991267717.UG.FTS.B,

29.49%,

11/22/24

.

844

836

991269536.UG.FTS.B,

29.49%,

11/22/24

.

79

79

991272047.UG.FTS.B,

29.49%,

11/22/24

.

153

150

991273601.UG.FTS.B,

29.49%,

11/22/24

.

2,785

367

991274490.UG.FTS.B,

29.49%,

11/22/24

.

84

84

991277770.UG.FTS.B,

29.49%,

11/22/24

.

161

158

991278795.UG.FTS.B,

29.49%,

11/22/24

.

160

159

991279836.UG.FTS.B,

29.49%,

11/22/24

.

189

187

991281331.UG.FTS.B,

29.49%,

11/22/24

.

324

319

991286123.UG.FTS.B,

29.49%,

11/22/24

.

1,131

1,111

991288087.UG.FTS.B,

29.49%,

11/22/24

.

132

130

991290240.UG.FTS.B,

29.49%,

11/22/24

.

206

203

991291613.UG.FTS.B,

29.49%,

11/22/24

.

25

22

991291999.UG.FTS.B,

29.49%,

11/22/24

.

89

89

991293465.UG.FTS.B,

29.49%,

11/22/24

.

228

151

991293990.UG.FTS.B,

29.49%,

11/22/24

.

76

76

991298537.UG.FTS.B,

29.49%,

11/22/24

.

121

8

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991299932.UG.FTS.B,

29.49%,

11/22/24

.

$

3,240

$

3,190

991300187.UG.FTS.B,

29.49%,

11/22/24

.

627

620

991300515.UG.FTS.B,

29.49%,

11/22/24

.

140

87

991302607.UG.FTS.B,

29.49%,

11/22/24

.

12

12

991302610.UG.FTS.B,

29.49%,

11/22/24

.

649

640

991305981.UG.FTS.B,

29.49%,

11/22/24

.

82

82

991311428.UG.FTS.B,

29.49%,

11/22/24

.

138

136

991105859.UG.FTS.B,

Zero

Cpn,

11/23/24

669

–

991109401.UG.FTS.B,

Zero

Cpn,

11/23/24

402

–

991111882.UG.FTS.B,

Zero

Cpn,

11/23/24

519

–

991115161.UG.FTS.B,

Zero

Cpn,

11/23/24

292

–

991120992.UG.FTS.B,

Zero

Cpn,

11/23/24

396

–

991129485.UG.FTS.B,

Zero

Cpn,

11/23/24

41

–

991131929.UG.FTS.B,

Zero

Cpn,

11/23/24

84

–

991133101.UG.FTS.B,

Zero

Cpn,

11/23/24

182

–

991137235.UG.FTS.B,

Zero

Cpn,

11/23/24

284

–

991162229.UG.FTS.B,

Zero

Cpn,

11/23/24

216

–

991168179.UG.FTS.B,

Zero

Cpn,

11/23/24

1,128

–

991189970.UG.FTS.B,

Zero

Cpn,

11/23/24

158

–

991199628.UG.FTS.B,

Zero

Cpn,

11/23/24

365

–

991213062.UG.FTS.B,

Zero

Cpn,

11/23/24

140

–

991224235.UG.FTS.B,

Zero

Cpn,

11/23/24

2,263

–

991268327.UG.FTS.B,

Zero

Cpn,

11/23/24

137

–

991272660.UG.FTS.B,

Zero

Cpn,

11/23/24

47

3

991279015.UG.FTS.B,

Zero

Cpn,

11/23/24

115

–

991284630.UG.FTS.B,

Zero

Cpn,

11/23/24

102

–

991288480.UG.FTS.B,

Zero

Cpn,

11/23/24

1,657

–

991288633.UG.FTS.B,

Zero

Cpn,

11/23/24

117

–

991196638.UG.FTS.B,

14.98%,

11/23/24

.

817

817

991229244.UG.FTS.B,

18.97%,

11/23/24

.

832

821

991232122.UG.FTS.B,

18.97%,

11/23/24

.

75

74

991181980.UG.FTS.B,

19.21%,

11/23/24

.

565

576

991196293.UG.FTS.B,

19.21%,

11/23/24

.

643

635

991247451.UG.FTS.B,

19.21%,

11/23/24

.

412

407

991254731.UG.FTS.B,

19.21%,

11/23/24

.

34

34

991304475.UG.FTS.B,

19.21%,

11/23/24

.

18

18

991313399.UG.FTS.B,

19.21%,

11/23/24

.

284

287

991126095.UG.FTS.B,

19.46%,

11/23/24

.

233

229

991168137.UG.FTS.B,

19.8%,

11/23/24

..

405

400

991168372.UG.FTS.B,

19.8%,

11/23/24

..

2,492

2,459

991208250.UG.FTS.B,

19.8%,

11/23/24

..

56

56

991237671.UG.FTS.B,

19.8%,

11/23/24

..

183

180

991106870.UG.FTS.B,

19.99%,

11/23/24

.

35

34

991108230.UG.FTS.B,

19.99%,

11/23/24

.

113

112

991108654.UG.FTS.B,

19.99%,

11/23/24

.

148

149

991111693.UG.FTS.B,

19.99%,

11/23/24

..

373

366

991113893.UG.FTS.B,

19.99%,

11/23/24

..

33

33

991114190.UG.FTS.B,

19.99%,

11/23/24

..

79

79

991114531.UG.FTS.B,

19.99%,

11/23/24

..

181

15

991115790.UG.FTS.B,

19.99%,

11/23/24

..

142

10

991117423.UG.FTS.B,

19.99%,

11/23/24

..

217

218

991123941.UG.FTS.B,

19.99%,

11/23/24

.

1,755

1,788

991126181.UG.FTS.B,

19.99%,

11/23/24

.

519

518

991126600.UG.FTS.B,

19.99%,

11/23/24

.

2,049

2,061

991126654.UG.FTS.B,

19.99%,

11/23/24

.

307

309

991129498.UG.FTS.B,

19.99%,

11/23/24

.

636

651

991132382.UG.FTS.B,

19.99%,

11/23/24

.

143

144

991132671.UG.FTS.B,

19.99%,

11/23/24

.

189

190

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

321

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991133827.UG.FTS.B,

19.99%,

11/23/24

.

$

548

$

543

991138036.UG.FTS.B,

19.99%,

11/23/24

.

94

94

991147270.UG.FTS.B,

19.99%,

11/23/24

.

133

132

991148492.UG.FTS.B,

19.99%,

11/23/24

.

101

102

991150692.UG.FTS.B,

19.99%,

11/23/24

.

352

364

991162960.UG.FTS.B,

19.99%,

11/23/24

.

207

207

991167674.UG.FTS.B,

19.99%,

11/23/24

.

410

412

991170878.UG.FTS.B,

19.99%,

11/23/24

.

67

66

991213868.UG.FTS.B,

19.99%,

11/23/24

.

312

318

991219776.UG.FTS.B,

19.99%,

11/23/24

.

36

36

991223207.UG.FTS.B,

19.99%,

11/23/24

.

309

307

991229310.UG.FTS.B,

19.99%,

11/23/24

.

303

305

991232620.UG.FTS.B,

19.99%,

11/23/24

.

165

166

991244136.UG.FTS.B,

19.99%,

11/23/24

.

540

542

991249488.UG.FTS.B,

19.99%,

11/23/24

.

44

45

991260729.UG.FTS.B,

19.99%,

11/23/24

.

1,076

1,068

991262811.UG.FTS.B,

19.99%,

11/23/24

.

166

168

991266135.UG.FTS.B,

19.99%,

11/23/24

.

961

953

991283781.UG.FTS.B,

19.99%,

11/23/24

.

568

574

991296137.UG.FTS.B,

19.99%,

11/23/24

.

232

230

991300760.UG.FTS.B,

19.99%,

11/23/24

.

250

248

991313088.UG.FTS.B,

19.99%,

11/23/24

.

444

438

991106798.UG.FTS.B,

20.46%,

11/23/24

.

2,407

2,427

991147229.UG.FTS.B,

20.46%,

11/23/24

.

267

263

991148255.UG.FTS.B,

20.46%,

11/23/24

.

184

(1)

991159612.UG.FTS.B,

20.46%,

11/23/24

.

15

15

991275313.UG.FTS.B,

20.46%,

11/23/24

.

284

278

991181180.UG.FTS.B,

20.97%,

11/23/24

..

148

146

991184027.UG.FTS.B,

20.97%,

11/23/24

.

250

246

991246945.UG.FTS.B,

20.97%,

11/23/24

.

–

–

991282683.UG.FTS.B,

20.97%,

11/23/24

.

83

82

991285282.UG.FTS.B,

20.97%,

11/23/24

.

467

32

991105721.UG.FTS.B,

21.46%,

11/23/24

.

328

329

991113758.UG.FTS.B,

21.46%,

11/23/24

..

145

143

991114571.UG.FTS.B,

21.46%,

11/23/24

..

375

368

991119625.UG.FTS.B,

21.46%,

11/23/24

..

609

599

991125579.UG.FTS.B,

21.46%,

11/23/24

.

724

712

991135432.UG.FTS.B,

21.46%,

11/23/24

.

2,839

2,792

991140566.UG.FTS.B,

21.46%,

11/23/24

.

855

105

991147013.UG.FTS.B,

21.46%,

11/23/24

.

295

299

991148866.UG.FTS.B,

21.46%,

11/23/24

.

4,182

4,114

991151056.UG.FTS.B,

21.46%,

11/23/24

.

30

30

991155217.UG.FTS.B,

21.46%,

11/23/24

.

478

470

991187835.UG.FTS.B,

21.46%,

11/23/24

.

153

149

991117327.UG.FTS.B,

21.97%,

11/23/24

..

726

718

991106966.UG.FTS.B,

21.98%,

11/23/24

.

1,009

992

991184569.UG.FTS.B,

21.98%,

11/23/24

.

169

166

991184768.UG.FTS.B,

21.98%,

11/23/24

.

682

669

991276829.UG.FTS.B,

21.98%,

11/23/24

.

408

398

991191830.UG.FTS.B,

22.95%,

11/23/24

.

418

410

991145323.UG.FTS.B,

22.97%,

11/23/24

.

208

204

991288971.UG.FTS.B,

23.95%,

11/23/24

.

46

45

991178607.UG.FTS.B,

25.94%,

11/23/24

.

231

151

991121850.UG.FTS.B,

26.94%,

11/23/24

.

586

574

991144096.UG.FTS.B,

26.94%,

11/23/24

.

541

530

991146136.UG.FTS.B,

26.94%,

11/23/24

.

1,755

1,718

991108416.UG.FTS.B,

27.95%,

11/23/24

.

36

35

991147765.UG.FTS.B,

27.95%,

11/23/24

.

287

287

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991109616.UG.FTS.B,

27.99%,

11/23/24

.

$

709

$

713

991111208.UG.FTS.B,

27.99%,

11/23/24

..

1

1

991119177.UG.FTS.B,

27.99%,

11/23/24

..

119

118

991131246.UG.FTS.B,

27.99%,

11/23/24

.

737

735

991142996.UG.FTS.B,

27.99%,

11/23/24

.

528

539

991180765.UG.FTS.B,

27.99%,

11/23/24

.

98

97

991232344.UG.FTS.B,

27.99%,

11/23/24

.

106

106

991105091.UG.FTS.B,

28.98%,

11/23/24

.

74

74

991105483.UG.FTS.B,

28.98%,

11/23/24

.

666

666

991105842.UG.FTS.B,

28.98%,

11/23/24

.

470

470

991106197.UG.FTS.B,

28.98%,

11/23/24

.

1,487

1,495

991106233.UG.FTS.B,

28.98%,

11/23/24

.

110

110

991106264.UG.FTS.B,

28.98%,

11/23/24

.

658

657

991106362.UG.FTS.B,

28.98%,

11/23/24

.

73

72

991106442.UG.FTS.B,

28.98%,

11/23/24

.

27

27

991106501.UG.FTS.B,

28.98%,

11/23/24

.

148

148

991106668.UG.FTS.B,

28.98%,

11/23/24

.

318

319

991107127.UG.FTS.B,

28.98%,

11/23/24

.

93

92

991107573.UG.FTS.B,

28.98%,

11/23/24

.

3,204

2,136

991107806.UG.FTS.B,

28.98%,

11/23/24

.

502

66

991108029.UG.FTS.B,

28.98%,

11/23/24

.

10

10

991108041.UG.FTS.B,

28.98%,

11/23/24

.

519

351

991108103.UG.FTS.B,

28.98%,

11/23/24

.

181

41

991108190.UG.FTS.B,

28.98%,

11/23/24

.

1,494

1,498

991108227.UG.FTS.B,

28.98%,

11/23/24

.

323

324

991108350.UG.FTS.B,

28.98%,

11/23/24

.

1,456

98

991108887.UG.FTS.B,

28.98%,

11/23/24

.

139

140

991109666.UG.FTS.B,

28.98%,

11/23/24

.

177

–

991109723.UG.FTS.B,

28.98%,

11/23/24

.

589

591

991110228.UG.FTS.B,

28.98%,

11/23/24

..

1,011

139

991110526.UG.FTS.B,

28.98%,

11/23/24

..

671

674

991110800.UG.FTS.B,

28.98%,

11/23/24

..

588

602

991110924.UG.FTS.B,

28.98%,

11/23/24

..

167

174

991112737.UG.FTS.B,

28.98%,

11/23/24

..

257

257

991113140.UG.FTS.B,

28.98%,

11/23/24

..

369

365

991113254.UG.FTS.B,

28.98%,

11/23/24

..

215

45

991113313.UG.FTS.B,

28.98%,

11/23/24

..

1,442

1,496

991114478.UG.FTS.B,

28.98%,

11/23/24

..

444

445

991114640.UG.FTS.B,

28.98%,

11/23/24

..

486

33

991115207.UG.FTS.B,

28.98%,

11/23/24

..

90

88

991115378.UG.FTS.B,

28.98%,

11/23/24

..

158

159

991115753.UG.FTS.B,

28.98%,

11/23/24

..

76

78

991115795.UG.FTS.B,

28.98%,

11/23/24

..

468

482

991116614.UG.FTS.B,

28.98%,

11/23/24

..

562

356

991117626.UG.FTS.B,

28.98%,

11/23/24

..

2,260

2,235

991121613.UG.FTS.B,

28.98%,

11/23/24

.

259

261

991122196.UG.FTS.B,

28.98%,

11/23/24

.

28

27

991123355.UG.FTS.B,

28.98%,

11/23/24

.

402

402

991124417.UG.FTS.B,

28.98%,

11/23/24

.

692

681

991124798.UG.FTS.B,

28.98%,

11/23/24

.

573

575

991124910.UG.FTS.B,

28.98%,

11/23/24

.

313

314

991125415.UG.FTS.B,

28.98%,

11/23/24

.

348

226

991125837.UG.FTS.B,

28.98%,

11/23/24

.

420

434

991129801.UG.FTS.B,

28.98%,

11/23/24

.

106

7

991130272.UG.FTS.B,

28.98%,

11/23/24

.

310

307

991130795.UG.FTS.B,

28.98%,

11/23/24

.

305

21

991131479.UG.FTS.B,

28.98%,

11/23/24

.

680

683

991132085.UG.FTS.B,

28.98%,

11/23/24

.

156

154

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

322

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991132396.UG.FTS.B,

28.98%,

11/23/24

.

$

487

$

482

991132511.UG.FTS.B,

28.98%,

11/23/24

..

595

597

991132894.UG.FTS.B,

28.98%,

11/23/24

.

210

211

991133163.UG.FTS.B,

28.98%,

11/23/24

.

245

255

991133989.UG.FTS.B,

28.98%,

11/23/24

.

80

80

991134804.UG.FTS.B,

28.98%,

11/23/24

.

262

263

991136357.UG.FTS.B,

28.98%,

11/23/24

.

41

41

991137990.UG.FTS.B,

28.98%,

11/23/24

.

270

281

991138634.UG.FTS.B,

28.98%,

11/23/24

.

235

236

991139844.UG.FTS.B,

28.98%,

11/23/24

.

201

201

991140922.UG.FTS.B,

28.98%,

11/23/24

.

112

111

991141819.UG.FTS.B,

28.98%,

11/23/24

.

1,015

1,019

991142579.UG.FTS.B,

28.98%,

11/23/24

.

532

532

991144603.UG.FTS.B,

28.98%,

11/23/24

.

652

87

991147458.UG.FTS.B,

28.98%,

11/23/24

.

362

364

991147938.UG.FTS.B,

28.98%,

11/23/24

.

377

379

991148591.UG.FTS.B,

28.98%,

11/23/24

.

2,905

2,873

991148949.UG.FTS.B,

28.98%,

11/23/24

.

171

172

991150357.UG.FTS.B,

28.98%,

11/23/24

.

230

227

991151935.UG.FTS.B,

28.98%,

11/23/24

.

243

252

991152386.UG.FTS.B,

28.98%,

11/23/24

.

257

258

991153667.UG.FTS.B,

28.98%,

11/23/24

.

10

10

991155173.UG.FTS.B,

28.98%,

11/23/24

.

118

119

991156346.UG.FTS.B,

28.98%,

11/23/24

.

41

41

991157081.UG.FTS.B,

28.98%,

11/23/24

.

174

173

991158618.UG.FTS.B,

28.98%,

11/23/24

.

233

234

991158999.UG.FTS.B,

28.98%,

11/23/24

.

30

30

991162664.UG.FTS.B,

28.98%,

11/23/24

.

1,713

1,721

991166090.UG.FTS.B,

28.98%,

11/23/24

.

64

64

991167228.UG.FTS.B,

28.98%,

11/23/24

.

2,294

2,268

991169414.UG.FTS.B,

28.98%,

11/23/24

.

5,800

5,828

991170456.UG.FTS.B,

28.98%,

11/23/24

.

447

449

991170493.UG.FTS.B,

28.98%,

11/23/24

.

213

214

991171491.UG.FTS.B,

28.98%,

11/23/24

.

150

150

991173980.UG.FTS.B,

28.98%,

11/23/24

.

98

99

991178866.UG.FTS.B,

28.98%,

11/23/24

.

631

633

991181974.UG.FTS.B,

28.98%,

11/23/24

.

1,127

1,129

991183433.UG.FTS.B,

28.98%,

11/23/24

.

–

–

991185631.UG.FTS.B,

28.98%,

11/23/24

.

52

4

991187003.UG.FTS.B,

28.98%,

11/23/24

.

903

895

991187197.UG.FTS.B,

28.98%,

11/23/24

.

149

149

991187965.UG.FTS.B,

28.98%,

11/23/24

.

34

34

991188766.UG.FTS.B,

28.98%,

11/23/24

.

1,538

1,545

991189619.UG.FTS.B,

28.98%,

11/23/24

.

1

1

991189874.UG.FTS.B,

28.98%,

11/23/24

.

1,747

1,814

991193318.UG.FTS.B,

28.98%,

11/23/24

.

77

77

991194147.UG.FTS.B,

28.98%,

11/23/24

.

1,706

1,677

991196260.UG.FTS.B,

28.98%,

11/23/24

.

846

836

991199059.UG.FTS.B,

28.98%,

11/23/24

.

71

70

991204905.UG.FTS.B,

28.98%,

11/23/24

.

1,207

159

991205665.UG.FTS.B,

28.98%,

11/23/24

.

99

100

991207407.UG.FTS.B,

28.98%,

11/23/24

.

82

81

991209380.UG.FTS.B,

28.98%,

11/23/24

.

657

660

991214567.UG.FTS.B,

28.98%,

11/23/24

.

496

498

991216477.UG.FTS.B,

28.98%,

11/23/24

.

329

326

991216950.UG.FTS.B,

28.98%,

11/23/24

.

848

852

991218084.UG.FTS.B,

28.98%,

11/23/24

.

254

256

991221105.UG.FTS.B,

28.98%,

11/23/24

.

137

137

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991221838.UG.FTS.B,

28.98%,

11/23/24

.

$

176

$

176

991225329.UG.FTS.B,

28.98%,

11/23/24

.

170

170

991229773.UG.FTS.B,

28.98%,

11/23/24

.

27

26

991234421.UG.FTS.B,

28.98%,

11/23/24

.

233

231

991236888.UG.FTS.B,

28.98%,

11/23/24

.

7

7

991237162.UG.FTS.B,

28.98%,

11/23/24

.

594

594

991238561.UG.FTS.B,

28.98%,

11/23/24

.

84

84

991239647.UG.FTS.B,

28.98%,

11/23/24

.

162

162

991239983.UG.FTS.B,

28.98%,

11/23/24

.

266

265

991240082.UG.FTS.B,

28.98%,

11/23/24

.

1,270

1,275

991244320.UG.FTS.B,

28.98%,

11/23/24

.

–

–

991245554.UG.FTS.B,

28.98%,

11/23/24

.

744

738

991258067.UG.FTS.B,

28.98%,

11/23/24

.

757

774

991258826.UG.FTS.B,

28.98%,

11/23/24

.

247

242

991262345.UG.FTS.B,

28.98%,

11/23/24

.

122

26

991263923.UG.FTS.B,

28.98%,

11/23/24

.

109

110

991264563.UG.FTS.B,

28.98%,

11/23/24

.

619

633

991266187.UG.FTS.B,

28.98%,

11/23/24

.

222

219

991266191.UG.FTS.B,

28.98%,

11/23/24

.

441

435

991268038.UG.FTS.B,

28.98%,

11/23/24

.

469

460

991271407.UG.FTS.B,

28.98%,

11/23/24

.

172

170

991272128.UG.FTS.B,

28.98%,

11/23/24

.

247

17

991272708.UG.FTS.B,

28.98%,

11/23/24

.

250

250

991274816.UG.FTS.B,

28.98%,

11/23/24

.

31

32

991276414.UG.FTS.B,

28.98%,

11/23/24

.

229

226

991276737.UG.FTS.B,

28.98%,

11/23/24

.

1,445

1,420

991277238.UG.FTS.B,

28.98%,

11/23/24

.

148

145

991277293.UG.FTS.B,

28.98%,

11/23/24

.

92

93

991277474.UG.FTS.B,

28.98%,

11/23/24

.

315

310

991282136.UG.FTS.B,

28.98%,

11/23/24

.

747

740

991290272.UG.FTS.B,

28.98%,

11/23/24

.

122

122

991291709.UG.FTS.B,

28.98%,

11/23/24

.

25

25

991292173.UG.FTS.B,

28.98%,

11/23/24

.

265

(3)

991294425.UG.FTS.B,

28.98%,

11/23/24

.

45

46

991295344.UG.FTS.B,

28.98%,

11/23/24

.

22

21

991296682.UG.FTS.B,

28.98%,

11/23/24

.

2,363

2,322

991299505.UG.FTS.B,

28.98%,

11/23/24

.

589

583

991300902.UG.FTS.B,

28.98%,

11/23/24

.

130

9

991307067.UG.FTS.B,

28.98%,

11/23/24

.

56

55

991308841.UG.FTS.B,

28.98%,

11/23/24

.

84

84

991309043.UG.FTS.B,

28.98%,

11/23/24

.

917

937

991311434.UG.FTS.B,

28.98%,

11/23/24

.

86

86

991314948.UG.FTS.B,

28.98%,

11/23/24

.

59

9

991315348.UG.FTS.B,

28.98%,

11/23/24

.

196

201

991316267.UG.FTS.B,

28.98%,

11/23/24

.

63

64

991317555.UG.FTS.B,

28.98%,

11/23/24

.

22

23

991319050.UG.FTS.B,

28.98%,

11/23/24

.

214

138

991105167.UG.FTS.B,

29.49%,

11/23/24

.

78

78

991105204.UG.FTS.B,

29.49%,

11/23/24

.

149

10

991105283.UG.FTS.B,

29.49%,

11/23/24

.

214

16

991105297.UG.FTS.B,

29.49%,

11/23/24

.

326

4

991105369.UG.FTS.B,

29.49%,

11/23/24

.

1,767

1,776

991105648.UG.FTS.B,

29.49%,

11/23/24

.

117

118

991105654.UG.FTS.B,

29.49%,

11/23/24

.

907

906

991105752.UG.FTS.B,

29.49%,

11/23/24

.

93

93

991105847.UG.FTS.B,

29.49%,

11/23/24

.

664

456

991105945.UG.FTS.B,

29.49%,

11/23/24

.

337

25

991106019.UG.FTS.B,

29.49%,

11/23/24

.

191

187

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

323

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991106435.UG.FTS.B,

29.49%,

11/23/24

.

$

308

$

21

991106576.UG.FTS.B,

29.49%,

11/23/24

.

1,145

1,133

991106797.UG.FTS.B,

29.49%,

11/23/24

.

258

260

991106876.UG.FTS.B,

29.49%,

11/23/24

.

117

117

991107180.UG.FTS.B,

29.49%,

11/23/24

.

252

253

991107549.UG.FTS.B,

29.49%,

11/23/24

.

303

301

991107676.UG.FTS.B,

29.49%,

11/23/24

.

163

169

991108014.UG.FTS.B,

29.49%,

11/23/24

.

108

107

991108021.UG.FTS.B,

29.49%,

11/23/24

.

1,064

1,065

991108074.UG.FTS.B,

29.49%,

11/23/24

.

498

495

991108326.UG.FTS.B,

29.49%,

11/23/24

.

85

85

991108629.UG.FTS.B,

29.49%,

11/23/24

.

161

159

991108680.UG.FTS.B,

29.49%,

11/23/24

.

88

21

991108694.UG.FTS.B,

29.49%,

11/23/24

.

102

101

991109023.UG.FTS.B,

29.49%,

11/23/24

.

2,558

1,582

991109380.UG.FTS.B,

29.49%,

11/23/24

.

113

114

991109761.UG.FTS.B,

29.49%,

11/23/24

.

189

190

991109836.UG.FTS.B,

29.49%,

11/23/24

.

40

41

991109974.UG.FTS.B,

29.49%,

11/23/24

.

196

197

991110089.UG.FTS.B,

29.49%,

11/23/24

..

230

231

991110148.UG.FTS.B,

29.49%,

11/23/24

..

585

589

991110258.UG.FTS.B,

29.49%,

11/23/24

..

415

417

991110335.UG.FTS.B,

29.49%,

11/23/24

..

280

277

991110395.UG.FTS.B,

29.49%,

11/23/24

..

996

1,027

991110741.UG.FTS.B,

29.49%,

11/23/24

..

1,997

136

991110975.UG.FTS.B,

29.49%,

11/23/24

..

1,025

1,032

991111150.UG.FTS.B,

29.49%,

11/23/24

..

540

534

991111371.UG.FTS.B,

29.49%,

11/23/24

..

573

574

991111569.UG.FTS.B,

29.49%,

11/23/24

..

102

104

991111596.UG.FTS.B,

29.49%,

11/23/24

..

413

429

991111942.UG.FTS.B,

29.49%,

11/23/24

..

158

164

991111945.UG.FTS.B,

29.49%,

11/23/24

..

8

8

991112160.UG.FTS.B,

29.49%,

11/23/24

..

726

716

991112242.UG.FTS.B,

29.49%,

11/23/24

..

919

925

991113220.UG.FTS.B,

29.49%,

11/23/24

..

198

199

991113325.UG.FTS.B,

29.49%,

11/23/24

..

121

8

991113469.UG.FTS.B,

29.49%,

11/23/24

..

172

173

991113878.UG.FTS.B,

29.49%,

11/23/24

..

0

0

991113963.UG.FTS.B,

29.49%,

11/23/24

..

211

16

991114124.UG.FTS.B,

29.49%,

11/23/24

..

694

693

991114452.UG.FTS.B,

29.49%,

11/23/24

..

758

486

991114587.UG.FTS.B,

29.49%,

11/23/24

..

60

59

991115039.UG.FTS.B,

29.49%,

11/23/24

..

165

165

991115112.UG.FTS.B,

29.49%,

11/23/24

..

321

322

991115789.UG.FTS.B,

29.49%,

11/23/24

..

2,502

343

991115841.UG.FTS.B,

29.49%,

11/23/24

..

1,212

1,219

991115845.UG.FTS.B,

29.49%,

11/23/24

..

61

61

991116011.UG.FTS.B,

29.49%,

11/23/24

..

155

11

991116352.UG.FTS.B,

29.49%,

11/23/24

..

94

98

991116525.UG.FTS.B,

29.49%,

11/23/24

..

101

101

991116572.UG.FTS.B,

29.49%,

11/23/24

..

130

130

991116593.UG.FTS.B,

29.49%,

11/23/24

..

130

131

991116778.UG.FTS.B,

29.49%,

11/23/24

..

496

499

991116897.UG.FTS.B,

29.49%,

11/23/24

..

195

195

991117167.UG.FTS.B,

29.49%,

11/23/24

..

193

191

991117289.UG.FTS.B,

29.49%,

11/23/24

..

769

761

991117538.UG.FTS.B,

29.49%,

11/23/24

..

484

487

991117838.UG.FTS.B,

29.49%,

11/23/24

..

109

109

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991118079.UG.FTS.B,

29.49%,

11/23/24

..

$

0

$

0

991119667.UG.FTS.B,

29.49%,

11/23/24

..

53

52

991119811.UG.FTS.B,

29.49%,

11/23/24

..

420

415

991120312.UG.FTS.B,

29.49%,

11/23/24

.

2,568

2,581

991120809.UG.FTS.B,

29.49%,

11/23/24

.

393

243

991120820.UG.FTS.B,

29.49%,

11/23/24

.

859

864

991121326.UG.FTS.B,

29.49%,

11/23/24

.

858

863

991121590.UG.FTS.B,

29.49%,

11/23/24

.

143

144

991122407.UG.FTS.B,

29.49%,

11/23/24

.

108

8

991122619.UG.FTS.B,

29.49%,

11/23/24

.

159

160

991122671.UG.FTS.B,

29.49%,

11/23/24

.

52

51

991123109.UG.FTS.B,

29.49%,

11/23/24

.

872

869

991123464.UG.FTS.B,

29.49%,

11/23/24

.

64

64

991123706.UG.FTS.B,

29.49%,

11/23/24

.

265

265

991124838.UG.FTS.B,

29.49%,

11/23/24

.

1,104

1,106

991125428.UG.FTS.B,

29.49%,

11/23/24

.

211

212

991125707.UG.FTS.B,

29.49%,

11/23/24

.

526

525

991127127.UG.FTS.B,

29.49%,

11/23/24

.

222

223

991128364.UG.FTS.B,

29.49%,

11/23/24

.

331

23

991128940.UG.FTS.B,

29.49%,

11/23/24

.

43

43

991130146.UG.FTS.B,

29.49%,

11/23/24

.

54

54

991130487.UG.FTS.B,

29.49%,

11/23/24

.

871

874

991130653.UG.FTS.B,

29.49%,

11/23/24

.

48

48

991131039.UG.FTS.B,

29.49%,

11/23/24

.

65

64

991131401.UG.FTS.B,

29.49%,

11/23/24

.

68

(2)

991133607.UG.FTS.B,

29.49%,

11/23/24

.

78

5

991133996.UG.FTS.B,

29.49%,

11/23/24

.

172

170

991134257.UG.FTS.B,

29.49%,

11/23/24

.

4,290

4,314

991134333.UG.FTS.B,

29.49%,

11/23/24

.

429

431

991134773.UG.FTS.B,

29.49%,

11/23/24

.

83

82

991135109.UG.FTS.B,

29.49%,

11/23/24

.

428

431

991135586.UG.FTS.B,

29.49%,

11/23/24

.

598

602

991135760.UG.FTS.B,

29.49%,

11/23/24

.

51

50

991135970.UG.FTS.B,

29.49%,

11/23/24

.

197

13

991136186.UG.FTS.B,

29.49%,

11/23/24

.

1,775

1,758

991136347.UG.FTS.B,

29.49%,

11/23/24

.

21

21

991137340.UG.FTS.B,

29.49%,

11/23/24

.

132

131

991138608.UG.FTS.B,

29.49%,

11/23/24

.

223

224

991139033.UG.FTS.B,

29.49%,

11/23/24

.

1,033

1,038

991139133.UG.FTS.B,

29.49%,

11/23/24

.

814

55

991141096.UG.FTS.B,

29.49%,

11/23/24

.

512

110

991141149.UG.FTS.B,

29.49%,

11/23/24

..

171

172

991141906.UG.FTS.B,

29.49%,

11/23/24

.

450

452

991144041.UG.FTS.B,

29.49%,

11/23/24

.

308

310

991144784.UG.FTS.B,

29.49%,

11/23/24

.

177

178

991145148.UG.FTS.B,

29.49%,

11/23/24

.

113

113

991145858.UG.FTS.B,

29.49%,

11/23/24

.

497

499

991146058.UG.FTS.B,

29.49%,

11/23/24

.

132

133

991146628.UG.FTS.B,

29.49%,

11/23/24

.

136

137

991146849.UG.FTS.B,

29.49%,

11/23/24

.

808

839

991150084.UG.FTS.B,

29.49%,

11/23/24

.

81

80

991150699.UG.FTS.B,

29.49%,

11/23/24

.

308

21

991151065.UG.FTS.B,

29.49%,

11/23/24

.

553

551

991151181.UG.FTS.B,

29.49%,

11/23/24

..

3,013

2,998

991151559.UG.FTS.B,

29.49%,

11/23/24

.

448

295

991153760.UG.FTS.B,

29.49%,

11/23/24

.

632

630

991154151.UG.FTS.B,

29.49%,

11/23/24

.

174

175

991154156.UG.FTS.B,

29.49%,

11/23/24

.

658

680

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

324

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991154824.UG.FTS.B,

29.49%,

11/23/24

.

$

125

$

86

991154837.UG.FTS.B,

29.49%,

11/23/24

.

55

54

991155014.UG.FTS.B,

29.49%,

11/23/24

.

53

52

991155401.UG.FTS.B,

29.49%,

11/23/24

.

205

206

991156245.UG.FTS.B,

29.49%,

11/23/24

.

889

888

991156266.UG.FTS.B,

29.49%,

11/23/24

.

–

–

991157333.UG.FTS.B,

29.49%,

11/23/24

.

93

92

991158412.UG.FTS.B,

29.49%,

11/23/24

.

55

55

991159054.UG.FTS.B,

29.49%,

11/23/24

.

187

116

991159269.UG.FTS.B,

29.49%,

11/23/24

.

68

68

991159397.UG.FTS.B,

29.49%,

11/23/24

.

1,066

1,066

991159497.UG.FTS.B,

29.49%,

11/23/24

.

32

32

991159766.UG.FTS.B,

29.49%,

11/23/24

.

179

13

991159977.UG.FTS.B,

29.49%,

11/23/24

.

93

91

991160052.UG.FTS.B,

29.49%,

11/23/24

.

155

153

991160282.UG.FTS.B,

29.49%,

11/23/24

.

591

40

991163512.UG.FTS.B,

29.49%,

11/23/24

.

470

467

991165122.UG.FTS.B,

29.49%,

11/23/24

.

1,961

1,973

991167603.UG.FTS.B,

29.49%,

11/23/24

.

380

380

991168555.UG.FTS.B,

29.49%,

11/23/24

.

296

299

991168842.UG.FTS.B,

29.49%,

11/23/24

.

135

136

991170141.UG.FTS.B,

29.49%,

11/23/24

.

88

87

991171535.UG.FTS.B,

29.49%,

11/23/24

.

244

246

991172898.UG.FTS.B,

29.49%,

11/23/24

.

42

42

991173144.UG.FTS.B,

29.49%,

11/23/24

.

459

457

991173867.UG.FTS.B,

29.49%,

11/23/24

.

246

54

991174043.UG.FTS.B,

29.49%,

11/23/24

.

49

49

991174718.UG.FTS.B,

29.49%,

11/23/24

.

63

63

991175162.UG.FTS.B,

29.49%,

11/23/24

.

381

383

991179514.UG.FTS.B,

29.49%,

11/23/24

.

197

27

991180111.UG.FTS.B,

29.49%,

11/23/24

..

172

173

991180900.UG.FTS.B,

29.49%,

11/23/24

.

82

6

991182655.UG.FTS.B,

29.49%,

11/23/24

.

95

96

991183124.UG.FTS.B,

29.49%,

11/23/24

.

238

237

991184133.UG.FTS.B,

29.49%,

11/23/24

.

3,346

227

991188704.UG.FTS.B,

29.49%,

11/23/24

.

27

27

991189600.UG.FTS.B,

29.49%,

11/23/24

.

13

13

991190240.UG.FTS.B,

29.49%,

11/23/24

.

48

47

991191859.UG.FTS.B,

29.49%,

11/23/24

.

143

144

991193100.UG.FTS.B,

29.49%,

11/23/24

.

159

157

991193878.UG.FTS.B,

29.49%,

11/23/24

.

27

26

991193886.UG.FTS.B,

29.49%,

11/23/24

.

53

52

991194242.UG.FTS.B,

29.49%,

11/23/24

.

96

96

991195252.UG.FTS.B,

29.49%,

11/23/24

.

531

349

991198566.UG.FTS.B,

29.49%,

11/23/24

.

176

176

991200285.UG.FTS.B,

29.49%,

11/23/24

.

556

553

991203413.UG.FTS.B,

29.49%,

11/23/24

.

35

34

991204254.UG.FTS.B,

29.49%,

11/23/24

.

30

30

991204587.UG.FTS.B,

29.49%,

11/23/24

.

458

460

991206494.UG.FTS.B,

29.49%,

11/23/24

.

32

32

991208929.UG.FTS.B,

29.49%,

11/23/24

.

171

175

991211494.UG.FTS.B,

29.49%,

11/23/24

.

751

742

991212308.UG.FTS.B,

29.49%,

11/23/24

.

79

78

991213705.UG.FTS.B,

29.49%,

11/23/24

.

–

–

991215835.UG.FTS.B,

29.49%,

11/23/24

.

261

173

991218593.UG.FTS.B,

29.49%,

11/23/24

.

408

414

991221818.UG.FTS.B,

29.49%,

11/23/24

.

156

156

991224830.UG.FTS.B,

29.49%,

11/23/24

.

677

682

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991230430.UG.FTS.B,

29.49%,

11/23/24

.

$

452

$

454

991230703.UG.FTS.B,

29.49%,

11/23/24

.

245

162

991231664.UG.FTS.B,

29.49%,

11/23/24

.

155

153

991232475.UG.FTS.B,

29.49%,

11/23/24

.

109

107

991232879.UG.FTS.B,

29.49%,

11/23/24

.

53

53

991234158.UG.FTS.B,

29.49%,

11/23/24

.

29

29

991237095.UG.FTS.B,

29.49%,

11/23/24

.

57

57

991239388.UG.FTS.B,

29.49%,

11/23/24

.

212

212

991240088.UG.FTS.B,

29.49%,

11/23/24

.

434

435

991243902.UG.FTS.B,

29.49%,

11/23/24

.

697

699

991244025.UG.FTS.B,

29.49%,

11/23/24

.

119

121

991248642.UG.FTS.B,

29.49%,

11/23/24

.

280

276

991250406.UG.FTS.B,

29.49%,

11/23/24

.

10

10

991255487.UG.FTS.B,

29.49%,

11/23/24

.

11

11

991255614.UG.FTS.B,

29.49%,

11/23/24

.

64

64

991256878.UG.FTS.B,

29.49%,

11/23/24

.

334

332

991257001.UG.FTS.B,

29.49%,

11/23/24

.

151

149

991257574.UG.FTS.B,

29.49%,

11/23/24

.

146

145

991260637.UG.FTS.B,

29.49%,

11/23/24

.

109

108

991261922.UG.FTS.B,

29.49%,

11/23/24

.

27

0

991267903.UG.FTS.B,

29.49%,

11/23/24

.

245

242

991269535.UG.FTS.B,

29.49%,

11/23/24

.

1,398

1,378

991270894.UG.FTS.B,

29.49%,

11/23/24

.

112

111

991271521.UG.FTS.B,

29.49%,

11/23/24

.

33

33

991274815.UG.FTS.B,

29.49%,

11/23/24

.

117

118

991275384.UG.FTS.B,

29.49%,

11/23/24

.

71

5

991276557.UG.FTS.B,

29.49%,

11/23/24

.

338

334

991276581.UG.FTS.B,

29.49%,

11/23/24

.

169

167

991278544.UG.FTS.B,

29.49%,

11/23/24

.

104

102

991280169.UG.FTS.B,

29.49%,

11/23/24

.

357

351

991280746.UG.FTS.B,

29.49%,

11/23/24

.

297

298

991280901.UG.FTS.B,

29.49%,

11/23/24

.

931

926

991283471.UG.FTS.B,

29.49%,

11/23/24

.

87

62

991285673.UG.FTS.B,

29.49%,

11/23/24

.

60

60

991286593.UG.FTS.B,

29.49%,

11/23/24

.

1

1

991286904.UG.FTS.B,

29.49%,

11/23/24

.

111

114

991287640.UG.FTS.B,

29.49%,

11/23/24

.

58

57

991288512.UG.FTS.B,

29.49%,

11/23/24

.

675

668

991290316.UG.FTS.B,

29.49%,

11/23/24

.

26

26

991291469.UG.FTS.B,

29.49%,

11/23/24

.

146

144

991292172.UG.FTS.B,

29.49%,

11/23/24

.

2

2

991292477.UG.FTS.B,

29.49%,

11/23/24

.

150

148

991293746.UG.FTS.B,

29.49%,

11/23/24

.

216

213

991293772.UG.FTS.B,

29.49%,

11/23/24

.

610

604

991298763.UG.FTS.B,

29.49%,

11/23/24

.

211

208

991298999.UG.FTS.B,

29.49%,

11/23/24

.

13

13

991299031.UG.FTS.B,

29.49%,

11/23/24

.

262

256

991299847.UG.FTS.B,

29.49%,

11/23/24

.

6

6

991304104.UG.FTS.B,

29.49%,

11/23/24

.

53

53

991308017.UG.FTS.B,

29.49%,

11/23/24

.

83

83

991308684.UG.FTS.B,

29.49%,

11/23/24

.

–

–

991310336.UG.FTS.B,

29.49%,

11/23/24

.

65

65

991317078.UG.FTS.B,

29.49%,

11/23/24

.

18

18

991317468.UG.FTS.B,

29.49%,

11/23/24

.

129

132

991111721.UG.FTS.B,

Zero

Cpn,

11/24/24

520

–

991115852.UG.FTS.B,

Zero

Cpn,

11/24/24

116

–

991120036.UG.FTS.B,

Zero

Cpn,

11/24/24

1,400

–

991120708.UG.FTS.B,

Zero

Cpn,

11/24/24

4,252

–

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

325

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991127146.UG.FTS.B,

Zero

Cpn,

11/24/24

$

217

$

–

991128221.UG.FTS.B,

Zero

Cpn,

11/24/24

122

–

991129107.UG.FTS.B,

Zero

Cpn,

11/24/24

37

–

991130510.UG.FTS.B,

Zero

Cpn,

11/24/24

873

–

991138794.UG.FTS.B,

Zero

Cpn,

11/24/24

676

–

991169809.UG.FTS.B,

Zero

Cpn,

11/24/24

116

–

991169869.UG.FTS.B,

Zero

Cpn,

11/24/24

2,000

–

991182182.UG.FTS.B,

Zero

Cpn,

11/24/24

118

–

991182582.UG.FTS.B,

Zero

Cpn,

11/24/24

75

5

991183805.UG.FTS.B,

Zero

Cpn,

11/24/24

85

–

991226481.UG.FTS.B,

Zero

Cpn,

11/24/24

49

–

991323036.UG.FTS.B,

Zero

Cpn,

11/24/24

160

–

991133971.UG.FTS.B,

18.97%,

11/24/24

.

173

171

991115361.UG.FTS.B,

19.21%,

11/24/24

..

691

683

991130184.UG.FTS.B,

19.21%,

11/24/24

.

540

534

991224275.UG.FTS.B,

19.21%,

11/24/24

.

4,118

4,072

991111330.UG.FTS.B,

19.8%,

11/24/24

...

887

876

991145491.UG.FTS.B,

19.8%,

11/24/24

..

27

26

991165081.UG.FTS.B,

19.8%,

11/24/24

..

641

638

991222205.UG.FTS.B,

19.8%,

11/24/24

..

421

416

991124951.UG.FTS.B,

19.99%,

11/24/24

.

119

119

991129972.UG.FTS.B,

19.99%,

11/24/24

.

148

149

991130672.UG.FTS.B,

19.99%,

11/24/24

.

146

145

991132353.UG.FTS.B,

19.99%,

11/24/24

.

1,546

1,556

991134660.UG.FTS.B,

19.99%,

11/24/24

.

283

279

991137740.UG.FTS.B,

19.99%,

11/24/24

.

150

150

991164622.UG.FTS.B,

19.99%,

11/24/24

.

439

438

991169645.UG.FTS.B,

19.99%,

11/24/24

.

498

501

991184351.UG.FTS.B,

19.99%,

11/24/24

.

92

6

991189663.UG.FTS.B,

19.99%,

11/24/24

.

3

3

991195686.UG.FTS.B,

19.99%,

11/24/24

.

30

30

991226952.UG.FTS.B,

19.99%,

11/24/24

.

554

550

991231174.UG.FTS.B,

19.99%,

11/24/24

.

102

7

991232810.UG.FTS.B,

19.99%,

11/24/24

.

7

7

991241069.UG.FTS.B,

19.99%,

11/24/24

.

732

736

991266535.UG.FTS.B,

19.99%,

11/24/24

.

510

513

991267796.UG.FTS.B,

19.99%,

11/24/24

.

1,425

1,408

991270414.UG.FTS.B,

19.99%,

11/24/24

.

477

473

991281311.UG.FTS.B,

19.99%,

11/24/24

.

52

53

991314125.UG.FTS.B,

19.99%,

11/24/24

.

178

182

991323110.UG.FTS.B,

19.99%,

11/24/24

.

699

715

991206759.UG.FTS.B,

20.46%,

11/24/24

.

245

241

991225373.UG.FTS.B,

20.46%,

11/24/24

.

72

71

991234378.UG.FTS.B,

20.46%,

11/24/24

.

198

194

991331471.UG.FTS.B,

20.46%,

11/24/24

.

1,119

1,097

991111058.UG.FTS.B,

20.97%,

11/24/24

..

15

15

991143002.UG.FTS.B,

20.97%,

11/24/24

.

107

14

991258813.UG.FTS.B,

20.97%,

11/24/24

.

47

46

991321251.UG.FTS.B,

20.97%,

11/24/24

.

742

749

991112013.UG.FTS.B,

21.46%,

11/24/24

..

383

377

991112640.UG.FTS.B,

21.46%,

11/24/24

..

481

474

991112744.UG.FTS.B,

21.46%,

11/24/24

..

2,341

2,302

991130832.UG.FTS.B,

21.46%,

11/24/24

.

688

676

991138789.UG.FTS.B,

21.46%,

11/24/24

.

224

221

991153002.UG.FTS.B,

21.46%,

11/24/24

.

73

6

991179536.UG.FTS.B,

21.46%,

11/24/24

.

161

158

991218297.UG.FTS.B,

21.46%,

11/24/24

.

832

819

991291326.UG.FTS.B,

21.46%,

11/24/24

.

82

80

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991331734.UG.FTS.B,

21.46%,

11/24/24

.

$

1,402

$

1,369

991286331.UG.FTS.B,

21.97%,

11/24/24

.

414

404

991111830.UG.FTS.B,

21.98%,

11/24/24

..

265

269

991139914.UG.FTS.B,

21.98%,

11/24/24

.

1,045

1,028

991159326.UG.FTS.B,

21.98%,

11/24/24

.

1,100

1,083

991185001.UG.FTS.B,

21.98%,

11/24/24

.

436

426

991205617.UG.FTS.B,

21.98%,

11/24/24

.

78

5

991208843.UG.FTS.B,

21.98%,

11/24/24

.

61

60

991163034.UG.FTS.B,

22.97%,

11/24/24

.

334

327

991166214.UG.FTS.B,

22.97%,

11/24/24

.

906

888

991215359.UG.FTS.B,

22.97%,

11/24/24

.

450

442

991282626.UG.FTS.B,

25.95%,

11/24/24

.

1,112

(1)

991118924.UG.FTS.B,

26.94%,

11/24/24

..

427

418

991116696.UG.FTS.B,

27.99%,

11/24/24

..

43

43

991126327.UG.FTS.B,

27.99%,

11/24/24

.

1,765

1,775

991128575.UG.FTS.B,

27.99%,

11/24/24

.

11

11

991220698.UG.FTS.B,

27.99%,

11/24/24

.

121

120

991110984.UG.FTS.B,

28.98%,

11/24/24

..

391

393

991111228.UG.FTS.B,

28.98%,

11/24/24

..

564

559

991111495.UG.FTS.B,

28.98%,

11/24/24

..

250

251

991111603.UG.FTS.B,

28.98%,

11/24/24

..

746

750

991111840.UG.FTS.B,

28.98%,

11/24/24

..

48

47

991111855.UG.FTS.B,

28.98%,

11/24/24

..

84

87

991112268.UG.FTS.B,

28.98%,

11/24/24

..

228

226

991112755.UG.FTS.B,

28.98%,

11/24/24

..

447

449

991112802.UG.FTS.B,

28.98%,

11/24/24

..

921

957

991113709.UG.FTS.B,

28.98%,

11/24/24

..

1,000

69

991114157.UG.FTS.B,

28.98%,

11/24/24

..

142

142

991114456.UG.FTS.B,

28.98%,

11/24/24

..

112

111

991114757.UG.FTS.B,

28.98%,

11/24/24

..

41

41

991114983.UG.FTS.B,

28.98%,

11/24/24

..

275

277

991115106.UG.FTS.B,

28.98%,

11/24/24

..

223

221

991115476.UG.FTS.B,

28.98%,

11/24/24

..

199

126

991115731.UG.FTS.B,

28.98%,

11/24/24

..

637

641

991115771.UG.FTS.B,

28.98%,

11/24/24

..

141

141

991115887.UG.FTS.B,

28.98%,

11/24/24

..

202

203

991115956.UG.FTS.B,

28.98%,

11/24/24

..

1,813

1,797

991116765.UG.FTS.B,

28.98%,

11/24/24

..

170

171

991117166.UG.FTS.B,

28.98%,

11/24/24

..

70

69

991117782.UG.FTS.B,

28.98%,

11/24/24

..

50

50

991117884.UG.FTS.B,

28.98%,

11/24/24

..

52

53

991118320.UG.FTS.B,

28.98%,

11/24/24

..

593

596

991118889.UG.FTS.B,

28.98%,

11/24/24

..

74

74

991119224.UG.FTS.B,

28.98%,

11/24/24

..

0

0

991121551.UG.FTS.B,

28.98%,

11/24/24

.

29

29

991121569.UG.FTS.B,

28.98%,

11/24/24

.

132

17

991122909.UG.FTS.B,

28.98%,

11/24/24

.

94

94

991123265.UG.FTS.B,

28.98%,

11/24/24

.

171

169

991124473.UG.FTS.B,

28.98%,

11/24/24

.

42

42

991125472.UG.FTS.B,

28.98%,

11/24/24

.

232

233

991125521.UG.FTS.B,

28.98%,

11/24/24

.

69

68

991126561.UG.FTS.B,

28.98%,

11/24/24

.

103

102

991126948.UG.FTS.B,

28.98%,

11/24/24

.

1,671

1,659

991127431.UG.FTS.B,

28.98%,

11/24/24

.

373

375

991127870.UG.FTS.B,

28.98%,

11/24/24

.

171

172

991127975.UG.FTS.B,

28.98%,

11/24/24

.

564

(19)

991129010.UG.FTS.B,

28.98%,

11/24/24

.

628

82

991129331.UG.FTS.B,

28.98%,

11/24/24

.

556

559

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

326

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991129823.UG.FTS.B,

28.98%,

11/24/24

.

$

156

$

155

991131631.UG.FTS.B,

28.98%,

11/24/24

.

79

79

991132332.UG.FTS.B,

28.98%,

11/24/24

.

2,217

2,197

991132732.UG.FTS.B,

28.98%,

11/24/24

.

138

138

991133108.UG.FTS.B,

28.98%,

11/24/24

.

176

175

991135126.UG.FTS.B,

28.98%,

11/24/24

.

150

147

991136873.UG.FTS.B,

28.98%,

11/24/24

.

112

112

991138643.UG.FTS.B,

28.98%,

11/24/24

.

203

134

991138713.UG.FTS.B,

28.98%,

11/24/24

.

48

48

991139184.UG.FTS.B,

28.98%,

11/24/24

.

129

128

991141492.UG.FTS.B,

28.98%,

11/24/24

.

693

696

991142516.UG.FTS.B,

28.98%,

11/24/24

.

1,109

1,115

991143702.UG.FTS.B,

28.98%,

11/24/24

.

301

302

991144924.UG.FTS.B,

28.98%,

11/24/24

.

828

813

991146335.UG.FTS.B,

28.98%,

11/24/24

.

905

908

991146475.UG.FTS.B,

28.98%,

11/24/24

.

316

316

991146597.UG.FTS.B,

28.98%,

11/24/24

.

154

10

991146950.UG.FTS.B,

28.98%,

11/24/24

.

326

325

991151978.UG.FTS.B,

28.98%,

11/24/24

.

–

–

991153645.UG.FTS.B,

28.98%,

11/24/24

.

203

15

991153711.UG.FTS.B,

28.98%,

11/24/24

..

30

30

991154896.UG.FTS.B,

28.98%,

11/24/24

.

26

23

991155175.UG.FTS.B,

28.98%,

11/24/24

.

10

10

991156297.UG.FTS.B,

28.98%,

11/24/24

.

0

0

991159323.UG.FTS.B,

28.98%,

11/24/24

.

355

47

991161749.UG.FTS.B,

28.98%,

11/24/24

.

14

14

991162240.UG.FTS.B,

28.98%,

11/24/24

.

100

99

991163260.UG.FTS.B,

28.98%,

11/24/24

.

190

133

991165417.UG.FTS.B,

28.98%,

11/24/24

.

563

566

991166848.UG.FTS.B,

28.98%,

11/24/24

.

458

33

991167862.UG.FTS.B,

28.98%,

11/24/24

.

655

659

991169353.UG.FTS.B,

28.98%,

11/24/24

.

256

257

991170105.UG.FTS.B,

28.98%,

11/24/24

.

218

219

991174153.UG.FTS.B,

28.98%,

11/24/24

.

86

87

991180982.UG.FTS.B,

28.98%,

11/24/24

.

2,976

2,950

991182918.UG.FTS.B,

28.98%,

11/24/24

.

102

101

991183279.UG.FTS.B,

28.98%,

11/24/24

.

447

441

991187157.UG.FTS.B,

28.98%,

11/24/24

.

88

89

991192057.UG.FTS.B,

28.98%,

11/24/24

.

160

159

991192903.UG.FTS.B,

28.98%,

11/24/24

.

109

7

991193965.UG.FTS.B,

28.98%,

11/24/24

.

159

158

991195043.UG.FTS.B,

28.98%,

11/24/24

.

228

229

991200198.UG.FTS.B,

28.98%,

11/24/24

.

31

31

991201381.UG.FTS.B,

28.98%,

11/24/24

.

31

12

991202194.UG.FTS.B,

28.98%,

11/24/24

.

118

119

991203318.UG.FTS.B,

28.98%,

11/24/24

.

156

155

991204082.UG.FTS.B,

28.98%,

11/24/24

.

27

27

991205194.UG.FTS.B,

28.98%,

11/24/24

.

606

609

991205222.UG.FTS.B,

28.98%,

11/24/24

.

337

1

991210659.UG.FTS.B,

28.98%,

11/24/24

.

76

5

991211967.UG.FTS.B,

28.98%,

11/24/24

.

1,487

1,463

991216255.UG.FTS.B,

28.98%,

11/24/24

.

637

640

991217054.UG.FTS.B,

28.98%,

11/24/24

.

103

102

991222712.UG.FTS.B,

28.98%,

11/24/24

.

134

133

991223013.UG.FTS.B,

28.98%,

11/24/24

.

48

47

991225313.UG.FTS.B,

28.98%,

11/24/24

.

1,273

1,279

991231250.UG.FTS.B,

28.98%,

11/24/24

.

43

3

991232413.UG.FTS.B,

28.98%,

11/24/24

.

297

295

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991232709.UG.FTS.B,

28.98%,

11/24/24

.

$

754

$

754

991236189.UG.FTS.B,

28.98%,

11/24/24

.

147

147

991240494.UG.FTS.B,

28.98%,

11/24/24

.

410

412

991241450.UG.FTS.B,

28.98%,

11/24/24

.

35

5

991247010.UG.FTS.B,

28.98%,

11/24/24

.

1,958

1,268

991261528.UG.FTS.B,

28.98%,

11/24/24

.

58

58

991262046.UG.FTS.B,

28.98%,

11/24/24

.

53

52

991264837.UG.FTS.B,

28.98%,

11/24/24

.

23

23

991266274.UG.FTS.B,

28.98%,

11/24/24

.

169

168

991266369.UG.FTS.B,

28.98%,

11/24/24

.

2,111

2,093

991269039.UG.FTS.B,

28.98%,

11/24/24

.

1

1

991270229.UG.FTS.B,

28.98%,

11/24/24

.

169

167

991272606.UG.FTS.B,

28.98%,

11/24/24

.

204

202

991275524.UG.FTS.B,

28.98%,

11/24/24

.

77

77

991280149.UG.FTS.B,

28.98%,

11/24/24

.

522

70

991281993.UG.FTS.B,

28.98%,

11/24/24

.

616

606

991282757.UG.FTS.B,

28.98%,

11/24/24

.

39

38

991283370.UG.FTS.B,

28.98%,

11/24/24

.

154

156

991286445.UG.FTS.B,

28.98%,

11/24/24

.

271

20

991286761.UG.FTS.B,

28.98%,

11/24/24

.

52

52

991295581.UG.FTS.B,

28.98%,

11/24/24

.

1,010

995

991306063.UG.FTS.B,

28.98%,

11/24/24

.

455

451

991309886.UG.FTS.B,

28.98%,

11/24/24

.

31

31

991317004.UG.FTS.B,

28.98%,

11/24/24

.

628

642

991318215.UG.FTS.B,

28.98%,

11/24/24

.

1

1

991318932.UG.FTS.B,

28.98%,

11/24/24

.

2,119

2,157

991319670.UG.FTS.B,

28.98%,

11/24/24

.

816

835

991320497.UG.FTS.B,

28.98%,

11/24/24

.

168

172

991321225.UG.FTS.B,

28.98%,

11/24/24

.

431

436

991321731.UG.FTS.B,

28.98%,

11/24/24

.

434

440

991323064.UG.FTS.B,

28.98%,

11/24/24

.

109

110

991323210.UG.FTS.B,

28.98%,

11/24/24

.

840

858

991323300.UG.FTS.B,

28.98%,

11/24/24

.

18

18

991118786.UG.FTS.B,

29.46%,

11/24/24

..

1,690

1,727

991210059.UG.FTS.B,

29.48%,

11/24/24

.

47

46

991110698.UG.FTS.B,

29.49%,

11/24/24

..

124

17

991110746.UG.FTS.B,

29.49%,

11/24/24

..

220

219

991111741.UG.FTS.B,

29.49%,

11/24/24

..

795

109

991112012.UG.FTS.B,

29.49%,

11/24/24

..

100

101

991112681.UG.FTS.B,

29.49%,

11/24/24

..

373

374

991112797.UG.FTS.B,

29.49%,

11/24/24

..

124

81

991112804.UG.FTS.B,

29.49%,

11/24/24

..

49

48

991113016.UG.FTS.B,

29.49%,

11/24/24

..

667

472

991113047.UG.FTS.B,

29.49%,

11/24/24

..

125

125

991113347.UG.FTS.B,

29.49%,

11/24/24

..

1,272

1,277

991113830.UG.FTS.B,

29.49%,

11/24/24

..

1,172

1,179

991113866.UG.FTS.B,

29.49%,

11/24/24

..

327

328

991113910.UG.FTS.B,

29.49%,

11/24/24

..

348

(7)

991113936.UG.FTS.B,

29.49%,

11/24/24

..

353

234

991114026.UG.FTS.B,

29.49%,

11/24/24

..

45

36

991114289.UG.FTS.B,

29.49%,

11/24/24

..

97

98

991114589.UG.FTS.B,

29.49%,

11/24/24

..

300

301

991115007.UG.FTS.B,

29.49%,

11/24/24

..

390

399

991115666.UG.FTS.B,

29.49%,

11/24/24

..

602

605

991115961.UG.FTS.B,

29.49%,

11/24/24

..

31

31

991116922.UG.FTS.B,

29.49%,

11/24/24

..

31

31

991117100.UG.FTS.B,

29.49%,

11/24/24

..

394

402

991117158.UG.FTS.B,

29.49%,

11/24/24

..

169

105

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

327

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991117180.UG.FTS.B,

29.49%,

11/24/24

..

$

143

$

142

991117316.UG.FTS.B,

29.49%,

11/24/24

..

252

(9)

991117478.UG.FTS.B,

29.49%,

11/24/24

..

831

829

991117511.UG.FTS.B,

29.49%,

11/24/24

..

102

88

991117895.UG.FTS.B,

29.49%,

11/24/24

..

125

124

991118117.UG.FTS.B,

29.49%,

11/24/24

..

9

9

991118200.UG.FTS.B,

29.49%,

11/24/24

..

173

24

991118793.UG.FTS.B,

29.49%,

11/24/24

..

265

264

991119426.UG.FTS.B,

29.49%,

11/24/24

..

14

14

991122231.UG.FTS.B,

29.49%,

11/24/24

.

606

610

991122863.UG.FTS.B,

29.49%,

11/24/24

.

1,832

1,822

991123649.UG.FTS.B,

29.49%,

11/24/24

.

114

75

991123946.UG.FTS.B,

29.49%,

11/24/24

.

787

496

991124316.UG.FTS.B,

29.49%,

11/24/24

.

20

19

991124415.UG.FTS.B,

29.49%,

11/24/24

.

393

395

991124541.UG.FTS.B,

29.49%,

11/24/24

.

0

0

991124601.UG.FTS.B,

29.49%,

11/24/24

.

199

200

991124779.UG.FTS.B,

29.49%,

11/24/24

.

255

168

991124823.UG.FTS.B,

29.49%,

11/24/24

.

565

588

991124899.UG.FTS.B,

29.49%,

11/24/24

.

140

141

991125644.UG.FTS.B,

29.49%,

11/24/24

.

1,272

1,270

991127222.UG.FTS.B,

29.49%,

11/24/24

.

308

309

991127641.UG.FTS.B,

29.49%,

11/24/24

.

435

435

991128859.UG.FTS.B,

29.49%,

11/24/24

.

86

6

991129027.UG.FTS.B,

29.49%,

11/24/24

.

58

4

991129314.UG.FTS.B,

29.49%,

11/24/24

.

174

174

991131273.UG.FTS.B,

29.49%,

11/24/24

.

43

43

991132841.UG.FTS.B,

29.49%,

11/24/24

.

280

281

991133169.UG.FTS.B,

29.49%,

11/24/24

.

78

78

991133954.UG.FTS.B,

29.49%,

11/24/24

.

209

139

991135299.UG.FTS.B,

29.49%,

11/24/24

.

47

(2)

991136216.UG.FTS.B,

29.49%,

11/24/24

.

960

951

991136294.UG.FTS.B,

29.49%,

11/24/24

.

409

409

991136470.UG.FTS.B,

29.49%,

11/24/24

.

194

195

991136474.UG.FTS.B,

29.49%,

11/24/24

.

114

113

991139329.UG.FTS.B,

29.49%,

11/24/24

.

570

574

991139572.UG.FTS.B,

29.49%,

11/24/24

.

447

451

991140287.UG.FTS.B,

29.49%,

11/24/24

.

273

270

991141971.UG.FTS.B,

29.49%,

11/24/24

.

1,781

1,791

991142494.UG.FTS.B,

29.49%,

11/24/24

.

192

190

991142998.UG.FTS.B,

29.49%,

11/24/24

.

189

197

991143669.UG.FTS.B,

29.49%,

11/24/24

.

158

157

991143703.UG.FTS.B,

29.49%,

11/24/24

.

628

631

991143710.UG.FTS.B,

29.49%,

11/24/24

.

131

128

991143899.UG.FTS.B,

29.49%,

11/24/24

.

1,053

1,059

991145592.UG.FTS.B,

29.49%,

11/24/24

.

232

232

991149352.UG.FTS.B,

29.49%,

11/24/24

.

857

862

991150241.UG.FTS.B,

29.49%,

11/24/24

.

1,212

1,239

991150853.UG.FTS.B,

29.49%,

11/24/24

.

42

42

991151961.UG.FTS.B,

29.49%,

11/24/24

.

389

388

991153551.UG.FTS.B,

29.49%,

11/24/24

.

748

753

991155817.UG.FTS.B,

29.49%,

11/24/24

.

1,221

1,222

991155898.UG.FTS.B,

29.49%,

11/24/24

.

117

116

991156213.UG.FTS.B,

29.49%,

11/24/24

.

227

228

991156787.UG.FTS.B,

29.49%,

11/24/24

.

155

156

991159172.UG.FTS.B,

29.49%,

11/24/24

.

187

188

991159334.UG.FTS.B,

29.49%,

11/24/24

.

236

16

991160160.UG.FTS.B,

29.49%,

11/24/24

.

111

112

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991161452.UG.FTS.B,

29.49%,

11/24/24

.

$

487

$

484

991161637.UG.FTS.B,

29.49%,

11/24/24

.

93

93

991162073.UG.FTS.B,

29.49%,

11/24/24

.

21

21

991162548.UG.FTS.B,

29.49%,

11/24/24

.

22

21

991162807.UG.FTS.B,

29.49%,

11/24/24

.

51

51

991163344.UG.FTS.B,

29.49%,

11/24/24

.

325

328

991163940.UG.FTS.B,

29.49%,

11/24/24

.

113

15

991163976.UG.FTS.B,

29.49%,

11/24/24

.

130

130

991164259.UG.FTS.B,

29.49%,

11/24/24

.

400

401

991165060.UG.FTS.B,

29.49%,

11/24/24

.

286

298

991165244.UG.FTS.B,

29.49%,

11/24/24

.

273

269

991168963.UG.FTS.B,

29.49%,

11/24/24

.

1,624

1,638

991169918.UG.FTS.B,

29.49%,

11/24/24

.

3,474

3,452

991170242.UG.FTS.B,

29.49%,

11/24/24

.

97

97

991171187.UG.FTS.B,

29.49%,

11/24/24

..

1,109

1,110

991171380.UG.FTS.B,

29.49%,

11/24/24

.

38

38

991171871.UG.FTS.B,

29.49%,

11/24/24

.

92

13

991173049.UG.FTS.B,

29.49%,

11/24/24

.

157

157

991173828.UG.FTS.B,

29.49%,

11/24/24

.

83

83

991174050.UG.FTS.B,

29.49%,

11/24/24

.

71

71

991175443.UG.FTS.B,

29.49%,

11/24/24

.

–

–

991176160.UG.FTS.B,

29.49%,

11/24/24

.

427

430

991176533.UG.FTS.B,

29.49%,

11/24/24

.

882

880

991181233.UG.FTS.B,

29.49%,

11/24/24

.

111

112

991181375.UG.FTS.B,

29.49%,

11/24/24

.

130

130

991182698.UG.FTS.B,

29.49%,

11/24/24

.

–

–

991184176.UG.FTS.B,

29.49%,

11/24/24

.

165

165

991184455.UG.FTS.B,

29.49%,

11/24/24

.

181

179

991185378.UG.FTS.B,

29.49%,

11/24/24

.

112

113

991186127.UG.FTS.B,

29.49%,

11/24/24

.

1,234

1,278

991186396.UG.FTS.B,

29.49%,

11/24/24

.

119

117

991187559.UG.FTS.B,

29.49%,

11/24/24

.

220

220

991189052.UG.FTS.B,

29.49%,

11/24/24

.

211

212

991190403.UG.FTS.B,

29.49%,

11/24/24

.

295

290

991190711.UG.FTS.B,

29.49%,

11/24/24

..

63

62

991195363.UG.FTS.B,

29.49%,

11/24/24

.

78

5

991195977.UG.FTS.B,

29.49%,

11/24/24

.

159

165

991198663.UG.FTS.B,

29.49%,

11/24/24

.

241

242

991200663.UG.FTS.B,

29.49%,

11/24/24

.

152

153

991200717.UG.FTS.B,

29.49%,

11/24/24

.

308

70

991200737.UG.FTS.B,

29.49%,

11/24/24

.

163

165

991204095.UG.FTS.B,

29.49%,

11/24/24

.

47

38

991204547.UG.FTS.B,

29.49%,

11/24/24

.

406

408

991205325.UG.FTS.B,

29.49%,

11/24/24

.

81

6

991208833.UG.FTS.B,

29.49%,

11/24/24

.

17

17

991209298.UG.FTS.B,

29.49%,

11/24/24

.

47

47

991209384.UG.FTS.B,

29.49%,

11/24/24

.

264

36

991210110.UG.FTS.B,

29.49%,

11/24/24

.

554

554

991214129.UG.FTS.B,

29.49%,

11/24/24

.

81

81

991214440.UG.FTS.B,

29.49%,

11/24/24

.

3,361

3,348

991215523.UG.FTS.B,

29.49%,

11/24/24

.

169

170

991219396.UG.FTS.B,

29.49%,

11/24/24

.

127

125

991222437.UG.FTS.B,

29.49%,

11/24/24

.

381

383

991223372.UG.FTS.B,

29.49%,

11/24/24

.

213

213

991224192.UG.FTS.B,

29.49%,

11/24/24

.

595

592

991230228.UG.FTS.B,

29.49%,

11/24/24

.

223

228

991230554.UG.FTS.B,

29.49%,

11/24/24

.

20

20

991232914.UG.FTS.B,

29.49%,

11/24/24

.

1,292

1,293

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

328

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991233840.UG.FTS.B,

29.49%,

11/24/24

.

$

138

$

93

991235136.UG.FTS.B,

29.49%,

11/24/24

.

210

212

991235511.UG.FTS.B,

29.49%,

11/24/24

.

45

4

991236708.UG.FTS.B,

29.49%,

11/24/24

.

122

123

991238618.UG.FTS.B,

29.49%,

11/24/24

.

163

163

991240138.UG.FTS.B,

29.49%,

11/24/24

.

1,103

1,109

991245476.UG.FTS.B,

29.49%,

11/24/24

.

214

14

991245920.UG.FTS.B,

29.49%,

11/24/24

.

159

157

991248437.UG.FTS.B,

29.49%,

11/24/24

.

116

8

991250890.UG.FTS.B,

29.49%,

11/24/24

.

291

189

991253796.UG.FTS.B,

29.49%,

11/24/24

.

180

178

991258119.UG.FTS.B,

29.49%,

11/24/24

.

177

178

991268450.UG.FTS.B,

29.49%,

11/24/24

.

226

227

991268834.UG.FTS.B,

29.49%,

11/24/24

.

180

179

991269519.UG.FTS.B,

29.49%,

11/24/24

.

716

52

991270507.UG.FTS.B,

29.49%,

11/24/24

.

1,988

1,970

991271500.UG.FTS.B,

29.49%,

11/24/24

.

1

1

991275141.UG.FTS.B,

29.49%,

11/24/24

.

205

203

991277509.UG.FTS.B,

29.49%,

11/24/24

.

2,028

2,006

991277554.UG.FTS.B,

29.49%,

11/24/24

.

1,419

303

991279385.UG.FTS.B,

29.49%,

11/24/24

.

107

107

991281718.UG.FTS.B,

29.49%,

11/24/24

.

183

180

991281845.UG.FTS.B,

29.49%,

11/24/24

.

98

97

991282307.UG.FTS.B,

29.49%,

11/24/24

.

275

272

991282646.UG.FTS.B,

29.49%,

11/24/24

.

275

272

991282728.UG.FTS.B,

29.49%,

11/24/24

.

328

325

991284078.UG.FTS.B,

29.49%,

11/24/24

.

18

18

991284081.UG.FTS.B,

29.49%,

11/24/24

.

174

14

991285487.UG.FTS.B,

29.49%,

11/24/24

.

–

–

991285509.UG.FTS.B,

29.49%,

11/24/24

.

1,744

1,719

991285650.UG.FTS.B,

29.49%,

11/24/24

.

223

220

991288667.UG.FTS.B,

29.49%,

11/24/24

.

291

296

991290619.UG.FTS.B,

29.49%,

11/24/24

.

72

71

991290943.UG.FTS.B,

29.49%,

11/24/24

.

146

148

991292850.UG.FTS.B,

29.49%,

11/24/24

.

70

5

991294113.UG.FTS.B,

29.49%,

11/24/24

.

437

432

991302811.UG.FTS.B,

29.49%,

11/24/24

.

48

47

991304854.UG.FTS.B,

29.49%,

11/24/24

.

60

5

991306567.UG.FTS.B,

29.49%,

11/24/24

.

38

37

991307905.UG.FTS.B,

29.49%,

11/24/24

.

301

213

991316297.UG.FTS.B,

29.49%,

11/24/24

.

17

17

991317800.UG.FTS.B,

29.49%,

11/24/24

.

42

43

991319933.UG.FTS.B,

29.49%,

11/24/24

.

108

110

991321455.UG.FTS.B,

29.49%,

11/24/24

.

51

43

991321832.UG.FTS.B,

29.49%,

11/24/24

.

1,344

1,373

991322428.UG.FTS.B,

29.49%,

11/24/24

.

260

259

991323531.UG.FTS.B,

29.49%,

11/24/24

.

1,166

1,185

991115594.UG.FTS.B,

Zero

Cpn,

11/25/24

899

–

991121524.UG.FTS.B,

Zero

Cpn,

11/25/24

1,521

–

991121931.UG.FTS.B,

Zero

Cpn,

11/25/24

611

–

991127420.UG.FTS.B,

Zero

Cpn,

11/25/24

1,144

–

991129341.UG.FTS.B,

Zero

Cpn,

11/25/24

144

–

991138920.UG.FTS.B,

Zero

Cpn,

11/25/24

156

–

991165464.UG.FTS.B,

Zero

Cpn,

11/25/24

107

–

991197507.UG.FTS.B,

Zero

Cpn,

11/25/24

103

–

991220431.UG.FTS.B,

Zero

Cpn,

11/25/24

35

–

991234088.UG.FTS.B,

Zero

Cpn,

11/25/24

137

–

991243014.UG.FTS.B,

Zero

Cpn,

11/25/24

105

–

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991259931.UG.FTS.B,

Zero

Cpn,

11/25/24

$

95

$

–

991299167.UG.FTS.B,

Zero

Cpn,

11/25/24

132

–

991303380.UG.FTS.B,

Zero

Cpn,

11/25/24

201

–

991321188.UG.FTS.B,

Zero

Cpn,

11/25/24

128

–

991114903.UG.FTS.B,

16.99%,

11/25/24

..

7,138

7,071

991125659.UG.FTS.B,

16.99%,

11/25/24

.

2,839

2,811

991139557.UG.FTS.B,

16.99%,

11/25/24

.

264

262

991300152.UG.FTS.B,

17.99%,

11/25/24

.

137

135

991117535.UG.FTS.B,

18.97%,

11/25/24

..

245

243

991119264.UG.FTS.B,

18.97%,

11/25/24

..

1,380

1,407

991132414.UG.FTS.B,

18.97%,

11/25/24

.

413

410

991140700.UG.FTS.B,

18.97%,

11/25/24

.

418

5

991150008.UG.FTS.B,

18.97%,

11/25/24

.

190

1

991152518.UG.FTS.B,

18.97%,

11/25/24

.

226

231

991153769.UG.FTS.B,

18.97%,

11/25/24

.

242

241

991163567.UG.FTS.B,

18.97%,

11/25/24

.

3,526

3,599

991167391.UG.FTS.B,

18.97%,

11/25/24

.

1,989

22

991174170.UG.FTS.B,

18.97%,

11/25/24

.

225

226

991199620.UG.FTS.B,

18.97%,

11/25/24

.

10

10

991263852.UG.FTS.B,

18.97%,

11/25/24

.

67

68

991306855.UG.FTS.B,

18.97%,

11/25/24

.

128

130

991313299.UG.FTS.B,

18.97%,

11/25/24

.

480

486

991116937.UG.FTS.B,

19.21%,

11/25/24

..

287

284

991120921.UG.FTS.B,

19.21%,

11/25/24

.

663

677

991129799.UG.FTS.B,

19.21%,

11/25/24

.

719

733

991142006.UG.FTS.B,

19.21%,

11/25/24

.

263

264

991172772.UG.FTS.B,

19.21%,

11/25/24

.

164

163

991308038.UG.FTS.B,

19.21%,

11/25/24

.

64

65

991324986.UG.FTS.B,

19.21%,

11/25/24

.

62

61

991115849.UG.FTS.B,

19.8%,

11/25/24

...

57

57

991120829.UG.FTS.B,

19.8%,

11/25/24

..

44

44

991135355.UG.FTS.B,

19.8%,

11/25/24

..

559

568

991158798.UG.FTS.B,

19.8%,

11/25/24

..

1,804

1,781

991270419.UG.FTS.B,

19.8%,

11/25/24

..

243

248

991332273.UG.FTS.B,

19.8%,

11/25/24

..

431

422

991121784.UG.FTS.B,

19.99%,

11/25/24

.

347

29

991122293.UG.FTS.B,

19.99%,

11/25/24

.

502

522

991131530.UG.FTS.B,

19.99%,

11/25/24

.

101

101

991131747.UG.FTS.B,

19.99%,

11/25/24

.

378

391

991136349.UG.FTS.B,

19.99%,

11/25/24

.

15

15

991140060.UG.FTS.B,

19.99%,

11/25/24

.

309

321

991163175.UG.FTS.B,

19.99%,

11/25/24

.

484

62

991166982.UG.FTS.B,

19.99%,

11/25/24

.

1,167

1,206

991167881.UG.FTS.B,

19.99%,

11/25/24

.

109

0

991173005.UG.FTS.B,

19.99%,

11/25/24

.

35

35

991176181.UG.FTS.B,

19.99%,

11/25/24

.

2,038

2,119

991176482.UG.FTS.B,

19.99%,

11/25/24

.

421

436

991215203.UG.FTS.B,

19.99%,

11/25/24

.

537

558

991220607.UG.FTS.B,

19.99%,

11/25/24

.

85

64

991224252.UG.FTS.B,

19.99%,

11/25/24

.

388

391

991236723.UG.FTS.B,

19.99%,

11/25/24

.

183

186

991267063.UG.FTS.B,

19.99%,

11/25/24

.

149

154

991269432.UG.FTS.B,

19.99%,

11/25/24

.

4,955

5,149

991288791.UG.FTS.B,

19.99%,

11/25/24

.

381

388

991119847.UG.FTS.B,

20.46%,

11/25/24

..

116

118

991182494.UG.FTS.B,

20.46%,

11/25/24

.

1,090

1,076

991264715.UG.FTS.B,

20.46%,

11/25/24

.

110

108

991332373.UG.FTS.B,

20.46%,

11/25/24

.

213

208

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

329

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991239470.UG.FTS.B,

20.97%,

11/25/24

.

$

884

$

111

991246076.UG.FTS.B,

20.97%,

11/25/24

.

1,659

1,689

991121647.UG.FTS.B,

21.46%,

11/25/24

.

1,555

1,564

991125348.UG.FTS.B,

21.46%,

11/25/24

.

48

14

991142513.UG.FTS.B,

21.46%,

11/25/24

.

644

646

991164983.UG.FTS.B,

21.46%,

11/25/24

.

347

352

991286579.UG.FTS.B,

21.46%,

11/25/24

.

227

229

991306513.UG.FTS.B,

21.46%,

11/25/24

.

317

310

991115318.UG.FTS.B,

21.97%,

11/25/24

..

3,294

3,343

991148863.UG.FTS.B,

21.97%,

11/25/24

.

3,739

2,522

991115313.UG.FTS.B,

21.98%,

11/25/24

..

2,595

2,554

991116716.UG.FTS.B,

21.98%,

11/25/24

..

593

602

991120919.UG.FTS.B,

21.98%,

11/25/24

.

1,826

1,852

991255671.UG.FTS.B,

21.98%,

11/25/24

.

102

102

991120297.UG.FTS.B,

22.97%,

11/25/24

.

1,856

1,226

991124788.UG.FTS.B,

22.97%,

11/25/24

.

691

680

991150815.UG.FTS.B,

22.97%,

11/25/24

.

230

(2)

991159742.UG.FTS.B,

22.97%,

11/25/24

.

28

28

991191606.UG.FTS.B,

22.97%,

11/25/24

.

469

476

991255163.UG.FTS.B,

22.97%,

11/25/24

.

235

239

991256379.UG.FTS.B,

22.97%,

11/25/24

.

799

811

991261427.UG.FTS.B,

22.97%,

11/25/24

.

128

128

991285820.UG.FTS.B,

22.97%,

11/25/24

.

5,494

5,523

991175860.UG.FTS.B,

23.95%,

11/25/24

.

2,039

2,068

991277527.UG.FTS.B,

23.95%,

11/25/24

.

208

209

991281741.UG.FTS.B,

23.95%,

11/25/24

.

74

(1)

991227191.UG.FTS.B,

24.95%,

11/25/24

.

463

469

991117070.UG.FTS.B,

25.95%,

11/25/24

..

385

388

991123245.UG.FTS.B,

26.94%,

11/25/24

.

880

862

991189173.UG.FTS.B,

26.94%,

11/25/24

.

482

488

991240092.UG.FTS.B,

26.94%,

11/25/24

.

918

919

991127467.UG.FTS.B,

27.95%,

11/25/24

.

2,575

2,665

991124096.UG.FTS.B,

27.99%,

11/25/24

.

74

11

991133777.UG.FTS.B,

27.99%,

11/25/24

.

1,937

1,950

991159372.UG.FTS.B,

27.99%,

11/25/24

.

317

43

991294485.UG.FTS.B,

27.99%,

11/25/24

.

146

96

991114837.UG.FTS.B,

28.98%,

11/25/24

..

1,039

1,079

991115331.UG.FTS.B,

28.98%,

11/25/24

..

101

104

991115436.UG.FTS.B,

28.98%,

11/25/24

..

297

295

991115995.UG.FTS.B,

28.98%,

11/25/24

..

49

50

991116090.UG.FTS.B,

28.98%,

11/25/24

..

1,129

1,139

991116292.UG.FTS.B,

28.98%,

11/25/24

..

413

423

991116749.UG.FTS.B,

28.98%,

11/25/24

..

802

546

991117216.UG.FTS.B,

28.98%,

11/25/24

..

357

253

991117612.UG.FTS.B,

28.98%,

11/25/24

..

82

84

991118218.UG.FTS.B,

28.98%,

11/25/24

..

184

191

991118441.UG.FTS.B,

28.98%,

11/25/24

..

172

179

991119595.UG.FTS.B,

28.98%,

11/25/24

..

172

173

991121284.UG.FTS.B,

28.98%,

11/25/24

.

171

173

991122228.UG.FTS.B,

28.98%,

11/25/24

.

131

136

991122303.UG.FTS.B,

28.98%,

11/25/24

.

155

34

991122683.UG.FTS.B,

28.98%,

11/25/24

.

545

566

991122854.UG.FTS.B,

28.98%,

11/25/24

.

331

336

991124327.UG.FTS.B,

28.98%,

11/25/24

.

380

395

991124698.UG.FTS.B,

28.98%,

11/25/24

.

1,063

1,103

991124999.UG.FTS.B,

28.98%,

11/25/24

.

555

576

991125540.UG.FTS.B,

28.98%,

11/25/24

.

206

213

991125717.UG.FTS.B,

28.98%,

11/25/24

.

234

242

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991125941.UG.FTS.B,

28.98%,

11/25/24

.

$

210

$

215

991125944.UG.FTS.B,

28.98%,

11/25/24

.

122

127

991126266.UG.FTS.B,

28.98%,

11/25/24

.

2,081

2,162

991127209.UG.FTS.B,

28.98%,

11/25/24

.

212

218

991128711.UG.FTS.B,

28.98%,

11/25/24

..

61

62

991129030.UG.FTS.B,

28.98%,

11/25/24

.

521

539

991129084.UG.FTS.B,

28.98%,

11/25/24

.

540

541

991129208.UG.FTS.B,

28.98%,

11/25/24

.

1,309

1,340

991132499.UG.FTS.B,

28.98%,

11/25/24

.

1,333

11

991133237.UG.FTS.B,

28.98%,

11/25/24

.

8

8

991133589.UG.FTS.B,

28.98%,

11/25/24

.

158

165

991133885.UG.FTS.B,

28.98%,

11/25/24

.

460

315

991133888.UG.FTS.B,

28.98%,

11/25/24

.

79

80

991134829.UG.FTS.B,

28.98%,

11/25/24

.

643

661

991134858.UG.FTS.B,

28.98%,

11/25/24

.

2,139

2,223

991135656.UG.FTS.B,

28.98%,

11/25/24

.

2,115

161

991143801.UG.FTS.B,

28.98%,

11/25/24

.

138

143

991144062.UG.FTS.B,

28.98%,

11/25/24

.

147

148

991145121.UG.FTS.B,

28.98%,

11/25/24

.

142

148

991145424.UG.FTS.B,

28.98%,

11/25/24

.

551

554

991145453.UG.FTS.B,

28.98%,

11/25/24

.

267

276

991146139.UG.FTS.B,

28.98%,

11/25/24

.

275

276

991147130.UG.FTS.B,

28.98%,

11/25/24

.

190

197

991147206.UG.FTS.B,

28.98%,

11/25/24

.

288

300

991147795.UG.FTS.B,

28.98%,

11/25/24

.

357

356

991148262.UG.FTS.B,

28.98%,

11/25/24

.

427

444

991149239.UG.FTS.B,

28.98%,

11/25/24

.

764

791

991149439.UG.FTS.B,

28.98%,

11/25/24

.

1,087

1,104

991150101.UG.FTS.B,

28.98%,

11/25/24

.

10

10

991150565.UG.FTS.B,

28.98%,

11/25/24

.

446

449

991152236.UG.FTS.B,

28.98%,

11/25/24

.

666

89

991152407.UG.FTS.B,

28.98%,

11/25/24

.

6

6

991156387.UG.FTS.B,

28.98%,

11/25/24

.

1,752

1,804

991158173.UG.FTS.B,

28.98%,

11/25/24

.

52

52

991161506.UG.FTS.B,

28.98%,

11/25/24

.

2,565

2,664

991161703.UG.FTS.B,

28.98%,

11/25/24

.

136

141

991161711.UG.FTS.B,

28.98%,

11/25/24

..

497

516

991162242.UG.FTS.B,

28.98%,

11/25/24

.

564

580

991163694.UG.FTS.B,

28.98%,

11/25/24

.

313

322

991163966.UG.FTS.B,

28.98%,

11/25/24

.

155

160

991164917.UG.FTS.B,

28.98%,

11/25/24

.

215

223

991165048.UG.FTS.B,

28.98%,

11/25/24

.

269

280

991165382.UG.FTS.B,

28.98%,

11/25/24

.

415

429

991166777.UG.FTS.B,

28.98%,

11/25/24

.

–

–

991169212.UG.FTS.B,

28.98%,

11/25/24

.

336

338

991169837.UG.FTS.B,

28.98%,

11/25/24

.

281

189

991171282.UG.FTS.B,

28.98%,

11/25/24

.

242

251

991171546.UG.FTS.B,

28.98%,

11/25/24

.

664

460

991174997.UG.FTS.B,

28.98%,

11/25/24

.

519

534

991177588.UG.FTS.B,

28.98%,

11/25/24

.

2,335

2,409

991179231.UG.FTS.B,

28.98%,

11/25/24

.

123

127

991181308.UG.FTS.B,

28.98%,

11/25/24

.

–

–

991186116.UG.FTS.B,

28.98%,

11/25/24

..

387

402

991188569.UG.FTS.B,

28.98%,

11/25/24

.

32

32

991189460.UG.FTS.B,

28.98%,

11/25/24

.

372

386

991190392.UG.FTS.B,

28.98%,

11/25/24

.

369

378

991192050.UG.FTS.B,

28.98%,

11/25/24

.

302

314

991194778.UG.FTS.B,

28.98%,

11/25/24

.

159

166

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

330

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991200333.UG.FTS.B,

28.98%,

11/25/24

.

$

56

$

56

991203010.UG.FTS.B,

28.98%,

11/25/24

.

331

26

991203166.UG.FTS.B,

28.98%,

11/25/24

.

436

450

991203730.UG.FTS.B,

28.98%,

11/25/24

.

78

81

991205182.UG.FTS.B,

28.98%,

11/25/24

.

76

11

991208204.UG.FTS.B,

28.98%,

11/25/24

.

181

12

991208695.UG.FTS.B,

28.98%,

11/25/24

.

17

17

991209074.UG.FTS.B,

28.98%,

11/25/24

.

200

32

991213196.UG.FTS.B,

28.98%,

11/25/24

.

66

66

991213714.UG.FTS.B,

28.98%,

11/25/24

.

285

291

991217511.UG.FTS.B,

28.98%,

11/25/24

.

87

21

991217697.UG.FTS.B,

28.98%,

11/25/24

.

849

882

991219314.UG.FTS.B,

28.98%,

11/25/24

.

123

9

991219496.UG.FTS.B,

28.98%,

11/25/24

.

189

26

991228699.UG.FTS.B,

28.98%,

11/25/24

.

547

565

991229942.UG.FTS.B,

28.98%,

11/25/24

.

58

58

991232781.UG.FTS.B,

28.98%,

11/25/24

.

131

134

991238195.UG.FTS.B,

28.98%,

11/25/24

.

312

322

991240861.UG.FTS.B,

28.98%,

11/25/24

.

122

127

991241166.UG.FTS.B,

28.98%,

11/25/24

.

297

305

991241800.UG.FTS.B,

28.98%,

11/25/24

.

228

233

991244989.UG.FTS.B,

28.98%,

11/25/24

.

2

2

991245422.UG.FTS.B,

28.98%,

11/25/24

.

93

94

991254931.UG.FTS.B,

28.98%,

11/25/24

.

295

306

991258509.UG.FTS.B,

28.98%,

11/25/24

.

66

68

991271427.UG.FTS.B,

28.98%,

11/25/24

.

219

227

991273399.UG.FTS.B,

28.98%,

11/25/24

.

145

148

991278088.UG.FTS.B,

28.98%,

11/25/24

.

174

37

991283748.UG.FTS.B,

28.98%,

11/25/24

.

189

192

991287252.UG.FTS.B,

28.98%,

11/25/24

.

29

29

991287710.UG.FTS.B,

28.98%,

11/25/24

.

250

255

991292904.UG.FTS.B,

28.98%,

11/25/24

.

435

289

991298998.UG.FTS.B,

28.98%,

11/25/24

.

421

428

991299204.UG.FTS.B,

28.98%,

11/25/24

.

132

134

991300522.UG.FTS.B,

28.98%,

11/25/24

.

493

504

991306187.UG.FTS.B,

28.98%,

11/25/24

.

61

62

991315551.UG.FTS.B,

28.98%,

11/25/24

.

490

495

991316696.UG.FTS.B,

28.98%,

11/25/24

.

101

103

991317211.UG.FTS.B,

28.98%,

11/25/24

.

70

72

991320548.UG.FTS.B,

28.98%,

11/25/24

.

120

123

991321245.UG.FTS.B,

28.98%,

11/25/24

.

87

86

991321301.UG.FTS.B,

28.98%,

11/25/24

.

86

86

991321544.UG.FTS.B,

28.98%,

11/25/24

.

924

945

991323082.UG.FTS.B,

28.98%,

11/25/24

.

449

451

991323419.UG.FTS.B,

28.98%,

11/25/24

.

214

219

991115135.UG.FTS.B,

29.49%,

11/25/24

..

274

(14)

991115925.UG.FTS.B,

29.49%,

11/25/24

..

90

93

991115955.UG.FTS.B,

29.49%,

11/25/24

..

72

75

991116103.UG.FTS.B,

29.49%,

11/25/24

..

163

168

991116188.UG.FTS.B,

29.49%,

11/25/24

..

143

148

991116442.UG.FTS.B,

29.49%,

11/25/24

..

1,221

1,268

991116475.UG.FTS.B,

29.49%,

11/25/24

..

33

33

991116509.UG.FTS.B,

29.49%,

11/25/24

..

175

182

991116837.UG.FTS.B,

29.49%,

11/25/24

..

618

622

991117085.UG.FTS.B,

29.49%,

11/25/24

..

925

932

991117532.UG.FTS.B,

29.49%,

11/25/24

..

281

293

991117679.UG.FTS.B,

29.49%,

11/25/24

..

355

370

991118077.UG.FTS.B,

29.49%,

11/25/24

..

1,898

149

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991118106.UG.FTS.B,

29.49%,

11/25/24

..

$

55

$

56

991118346.UG.FTS.B,

29.49%,

11/25/24

..

4,301

4,424

991119119.UG.FTS.B,

29.49%,

11/25/24

..

247

254

991120109.UG.FTS.B,

29.49%,

11/25/24

.

1,034

1,070

991121686.UG.FTS.B,

29.49%,

11/25/24

.

655

649

991122076.UG.FTS.B,

29.49%,

11/25/24

.

114

114

991122540.UG.FTS.B,

29.49%,

11/25/24

.

69

71

991122800.UG.FTS.B,

29.49%,

11/25/24

.

1,658

1,694

991123011.UG.FTS.B,

29.49%,

11/25/24

..

350

362

991123332.UG.FTS.B,

29.49%,

11/25/24

.

265

276

991123599.UG.FTS.B,

29.49%,

11/25/24

.

1,480

336

991124111.UG.FTS.B,

29.49%,

11/25/24

..

135

136

991124486.UG.FTS.B,

29.49%,

11/25/24

.

198

1

991124925.UG.FTS.B,

29.49%,

11/25/24

.

263

272

991125161.UG.FTS.B,

29.49%,

11/25/24

.

507

525

991125210.UG.FTS.B,

29.49%,

11/25/24

.

87

91

991125662.UG.FTS.B,

29.49%,

11/25/24

.

504

525

991125873.UG.FTS.B,

29.49%,

11/25/24

.

167

13

991126246.UG.FTS.B,

29.49%,

11/25/24

.

825

850

991126342.UG.FTS.B,

29.49%,

11/25/24

.

60

61

991126496.UG.FTS.B,

29.49%,

11/25/24

.

303

314

991126527.UG.FTS.B,

29.49%,

11/25/24

.

115

117

991127972.UG.FTS.B,

29.49%,

11/25/24

.

3,394

3,498

991129403.UG.FTS.B,

29.49%,

11/25/24

.

224

232

991131365.UG.FTS.B,

29.49%,

11/25/24

.

1,643

1,709

991131758.UG.FTS.B,

29.49%,

11/25/24

.

193

200

991133334.UG.FTS.B,

29.49%,

11/25/24

.

656

668

991133444.UG.FTS.B,

29.49%,

11/25/24

.

52

8

991133509.UG.FTS.B,

29.49%,

11/25/24

.

308

319

991134480.UG.FTS.B,

29.49%,

11/25/24

.

258

268

991134547.UG.FTS.B,

29.49%,

11/25/24

.

227

16

991134595.UG.FTS.B,

29.49%,

11/25/24

.

687

708

991135715.UG.FTS.B,

29.49%,

11/25/24

.

64

66

991135764.UG.FTS.B,

29.49%,

11/25/24

.

164

171

991136010.UG.FTS.B,

29.49%,

11/25/24

.

18

1

991136662.UG.FTS.B,

29.49%,

11/25/24

.

175

180

991137319.UG.FTS.B,

29.49%,

11/25/24

.

222

230

991139230.UG.FTS.B,

29.49%,

11/25/24

.

253

263

991139298.UG.FTS.B,

29.49%,

11/25/24

.

20

2

991140625.UG.FTS.B,

29.49%,

11/25/24

.

338

348

991140749.UG.FTS.B,

29.49%,

11/25/24

.

7

7

991141864.UG.FTS.B,

29.49%,

11/25/24

.

262

265

991143039.UG.FTS.B,

29.49%,

11/25/24

.

392

53

991143153.UG.FTS.B,

29.49%,

11/25/24

.

245

253

991143939.UG.FTS.B,

29.49%,

11/25/24

.

360

372

991144362.UG.FTS.B,

29.49%,

11/25/24

.

476

492

991144465.UG.FTS.B,

29.49%,

11/25/24

.

107

110

991144872.UG.FTS.B,

29.49%,

11/25/24

.

1,838

1,844

991145376.UG.FTS.B,

29.49%,

11/25/24

.

90

93

991145776.UG.FTS.B,

29.49%,

11/25/24

.

65

67

991145954.UG.FTS.B,

29.49%,

11/25/24

.

161

168

991146070.UG.FTS.B,

29.49%,

11/25/24

.

365

364

991146749.UG.FTS.B,

29.49%,

11/25/24

.

36

36

991147585.UG.FTS.B,

29.49%,

11/25/24

.

718

98

991149154.UG.FTS.B,

29.49%,

11/25/24

.

–

–

991149688.UG.FTS.B,

29.49%,

11/25/24

.

14

14

991154050.UG.FTS.B,

29.49%,

11/25/24

.

281

288

991154447.UG.FTS.B,

29.49%,

11/25/24

.

118

118

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

331

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991155034.UG.FTS.B,

29.49%,

11/25/24

.

$

46

$

3

991155566.UG.FTS.B,

29.49%,

11/25/24

.

150

11

991156485.UG.FTS.B,

29.49%,

11/25/24

.

175

177

991157801.UG.FTS.B,

29.49%,

11/25/24

.

239

238

991157952.UG.FTS.B,

29.49%,

11/25/24

.

119

8

991158315.UG.FTS.B,

29.49%,

11/25/24

.

264

275

991158553.UG.FTS.B,

29.49%,

11/25/24

.

63

64

991160020.UG.FTS.B,

29.49%,

11/25/24

.

347

361

991160063.UG.FTS.B,

29.49%,

11/25/24

.

487

505

991163261.UG.FTS.B,

29.49%,

11/25/24

.

516

534

991164308.UG.FTS.B,

29.49%,

11/25/24

.

154

160

991165565.UG.FTS.B,

29.49%,

11/25/24

.

202

210

991165638.UG.FTS.B,

29.49%,

11/25/24

.

18

18

991166873.UG.FTS.B,

29.49%,

11/25/24

.

128

134

991167154.UG.FTS.B,

29.49%,

11/25/24

.

260

34

991167168.UG.FTS.B,

29.49%,

11/25/24

.

1,540

1,601

991168233.UG.FTS.B,

29.49%,

11/25/24

.

2,255

2,335

991169188.UG.FTS.B,

29.49%,

11/25/24

.

787

816

991170025.UG.FTS.B,

29.49%,

11/25/24

.

134

138

991170031.UG.FTS.B,

29.49%,

11/25/24

.

324

335

991173770.UG.FTS.B,

29.49%,

11/25/24

.

315

327

991175550.UG.FTS.B,

29.49%,

11/25/24

.

65

67

991177664.UG.FTS.B,

29.49%,

11/25/24

.

11

11

991178101.UG.FTS.B,

29.49%,

11/25/24

.

359

367

991180816.UG.FTS.B,

29.49%,

11/25/24

.

253

263

991183655.UG.FTS.B,

29.49%,

11/25/24

.

3,969

4,089

991188471.UG.FTS.B,

29.49%,

11/25/24

.

66

67

991188488.UG.FTS.B,

29.49%,

11/25/24

.

33

29

991188594.UG.FTS.B,

29.49%,

11/25/24

.

2,102

2,111

991191585.UG.FTS.B,

29.49%,

11/25/24

.

250

256

991193446.UG.FTS.B,

29.49%,

11/25/24

.

392

403

991193559.UG.FTS.B,

29.49%,

11/25/24

.

598

619

991194512.UG.FTS.B,

29.49%,

11/25/24

.

254

259

991195289.UG.FTS.B,

29.49%,

11/25/24

.

117

8

991196097.UG.FTS.B,

29.49%,

11/25/24

.

34

35

991196295.UG.FTS.B,

29.49%,

11/25/24

.

25

26

991196806.UG.FTS.B,

29.49%,

11/25/24

.

4,271

2,958

991196856.UG.FTS.B,

29.49%,

11/25/24

.

554

578

991197724.UG.FTS.B,

29.49%,

11/25/24

.

141

95

991200416.UG.FTS.B,

29.49%,

11/25/24

.

262

271

991200661.UG.FTS.B,

29.49%,

11/25/24

.

679

703

991201693.UG.FTS.B,

29.49%,

11/25/24

.

176

181

991202004.UG.FTS.B,

29.49%,

11/25/24

.

438

(13)

991202437.UG.FTS.B,

29.49%,

11/25/24

.

1,010

641

991206631.UG.FTS.B,

29.49%,

11/25/24

.

164

169

991206760.UG.FTS.B,

29.49%,

11/25/24

.

115

120

991207585.UG.FTS.B,

29.49%,

11/25/24

.

51

4

991210134.UG.FTS.B,

29.49%,

11/25/24

.

545

565

991211537.UG.FTS.B,

29.49%,

11/25/24

.

245

35

991213501.UG.FTS.B,

29.49%,

11/25/24

.

567

80

991214365.UG.FTS.B,

29.49%,

11/25/24

.

601

(19)

991216882.UG.FTS.B,

29.49%,

11/25/24

.

215

221

991221135.UG.FTS.B,

29.49%,

11/25/24

.

63

10

991222467.UG.FTS.B,

29.49%,

11/25/24

.

267

19

991222703.UG.FTS.B,

29.49%,

11/25/24

.

27

28

991223126.UG.FTS.B,

29.49%,

11/25/24

.

210

218

991224755.UG.FTS.B,

29.49%,

11/25/24

.

459

457

991224942.UG.FTS.B,

29.49%,

11/25/24

.

1,667

1,730

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991225416.UG.FTS.B,

29.49%,

11/25/24

.

$

72

$

25

991225463.UG.FTS.B,

29.49%,

11/25/24

.

133

138

991226122.UG.FTS.B,

29.49%,

11/25/24

.

140

96

991228566.UG.FTS.B,

29.49%,

11/25/24

.

193

200

991230132.UG.FTS.B,

29.49%,

11/25/24

.

1,170

1,194

991233017.UG.FTS.B,

29.49%,

11/25/24

.

255

265

991238304.UG.FTS.B,

29.49%,

11/25/24

.

54

55

991241448.UG.FTS.B,

29.49%,

11/25/24

.

138

(4)

991242301.UG.FTS.B,

29.49%,

11/25/24

.

66

68

991242359.UG.FTS.B,

29.49%,

11/25/24

.

139

20

991242467.UG.FTS.B,

29.49%,

11/25/24

.

372

378

991244179.UG.FTS.B,

29.49%,

11/25/24

.

249

34

991245747.UG.FTS.B,

29.49%,

11/25/24

.

695

718

991246604.UG.FTS.B,

29.49%,

11/25/24

.

834

852

991251055.UG.FTS.B,

29.49%,

11/25/24

.

27

27

991251362.UG.FTS.B,

29.49%,

11/25/24

.

445

461

991251748.UG.FTS.B,

29.49%,

11/25/24

.

23

23

991252608.UG.FTS.B,

29.49%,

11/25/24

.

403

412

991257385.UG.FTS.B,

29.49%,

11/25/24

.

363

370

991258039.UG.FTS.B,

29.49%,

11/25/24

.

134

134

991259287.UG.FTS.B,

29.49%,

11/25/24

.

112

15

991261151.UG.FTS.B,

29.49%,

11/25/24

.

714

729

991263083.UG.FTS.B,

29.49%,

11/25/24

.

121

126

991264692.UG.FTS.B,

29.49%,

11/25/24

.

30

30

991265007.UG.FTS.B,

29.49%,

11/25/24

.

290

(3)

991266129.UG.FTS.B,

29.49%,

11/25/24

.

195

203

991266915.UG.FTS.B,

29.49%,

11/25/24

.

140

98

991276052.UG.FTS.B,

29.49%,

11/25/24

.

151

157

991278608.UG.FTS.B,

29.49%,

11/25/24

.

275

19

991279860.UG.FTS.B,

29.49%,

11/25/24

.

172

176

991283279.UG.FTS.B,

29.49%,

11/25/24

.

356

364

991284001.UG.FTS.B,

29.49%,

11/25/24

.

363

365

991284133.UG.FTS.B,

29.49%,

11/25/24

.

98

98

991288985.UG.FTS.B,

29.49%,

11/25/24

.

96

100

991289736.UG.FTS.B,

29.49%,

11/25/24

.

78

(2)

991291423.UG.FTS.B,

29.49%,

11/25/24

.

50

51

991292764.UG.FTS.B,

29.49%,

11/25/24

.

49

50

991295029.UG.FTS.B,

29.49%,

11/25/24

.

213

218

991295909.UG.FTS.B,

29.49%,

11/25/24

.

118

120

991296598.UG.FTS.B,

29.49%,

11/25/24

.

100

103

991297898.UG.FTS.B,

29.49%,

11/25/24

.

120

122

991298538.UG.FTS.B,

29.49%,

11/25/24

.

109

111

991298786.UG.FTS.B,

29.49%,

11/25/24

.

475

487

991298875.UG.FTS.B,

29.49%,

11/25/24

.

368

375

991299072.UG.FTS.B,

29.49%,

11/25/24

.

278

285

991299684.UG.FTS.B,

29.49%,

11/25/24

.

295

302

991301001.UG.FTS.B,

29.49%,

11/25/24

.

158

157

991301708.UG.FTS.B,

29.49%,

11/25/24

.

1,079

1,100

991303235.UG.FTS.B,

29.49%,

11/25/24

.

47

38

991306805.UG.FTS.B,

29.49%,

11/25/24

.

74

76

991311584.UG.FTS.B,

29.49%,

11/25/24

.

583

595

991312067.UG.FTS.B,

29.49%,

11/25/24

.

19

19

991315961.UG.FTS.B,

29.49%,

11/25/24

.

50

50

991317263.UG.FTS.B,

29.49%,

11/25/24

.

115

117

991320853.UG.FTS.B,

29.49%,

11/25/24

.

885

120

991321816.UG.FTS.B,

29.49%,

11/25/24

.

631

645

991321882.UG.FTS.B,

29.49%,

11/25/24

.

714

729

991322358.UG.FTS.B,

29.49%,

11/25/24

.

77

79

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

332

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991323736.UG.FTS.B,

29.49%,

11/25/24

.

$

273

$

280

991123858.UG.FTS.B,

Zero

Cpn,

11/26/24

1,683

–

991181409.UG.FTS.B,

Zero

Cpn,

11/26/24

1,203

–

991238481.UG.FTS.B,

15%,

11/26/24

....

270

268

991151613.UG.FTS.B,

15.97%,

11/26/24

.

748

741

991124907.UG.FTS.B,

16.99%,

11/26/24

.

3,116

3,070

991176783.UG.FTS.B,

16.99%,

11/26/24

.

676

670

991207377.UG.FTS.B,

16.99%,

11/26/24

.

787

776

991221696.UG.FTS.B,

16.99%,

11/26/24

.

637

631

991268051.UG.FTS.B,

17.99%,

11/26/24

.

1,227

1,209

991123365.UG.FTS.B,

18.97%,

11/26/24

.

365

362

991132812.UG.FTS.B,

18.97%,

11/26/24

.

2,000

1,979

991137584.UG.FTS.B,

18.97%,

11/26/24

.

0

0

991252958.UG.FTS.B,

18.97%,

11/26/24

.

428

423

991123371.UG.FTS.B,

19.21%,

11/26/24

.

1,331

1,314

991133507.UG.FTS.B,

19.21%,

11/26/24

.

74

74

991212146.UG.FTS.B,

19.21%,

11/26/24

.

158

155

991268806.UG.FTS.B,

19.21%,

11/26/24

.

367

363

991312912.UG.FTS.B,

19.21%,

11/26/24

.

467

32

991147923.UG.FTS.B,

19.8%,

11/26/24

..

660

407

991190181.UG.FTS.B,

19.8%,

11/26/24

..

228

225

991197636.UG.FTS.B,

19.8%,

11/26/24

..

2,033

2,006

991208065.UG.FTS.B,

19.8%,

11/26/24

..

476

467

991215785.UG.FTS.B,

19.8%,

11/26/24

..

61

61

991232410.UG.FTS.B,

19.8%,

11/26/24

..

1,447

1,429

991270877.UG.FTS.B,

19.8%,

11/26/24

..

481

475

991277503.UG.FTS.B,

19.8%,

11/26/24

..

456

447

991296143.UG.FTS.B,

19.8%,

11/26/24

..

381

374

991130155.UG.FTS.B,

19.99%,

11/26/24

.

12

12

991130530.UG.FTS.B,

19.99%,

11/26/24

.

195

192

991135293.UG.FTS.B,

19.99%,

11/26/24

.

3,114

3,128

991129303.UG.FTS.B,

20.46%,

11/26/24

.

2,304

1,707

991135690.UG.FTS.B,

20.46%,

11/26/24

.

286

282

991140034.UG.FTS.B,

20.46%,

11/26/24

.

24

24

991143662.UG.FTS.B,

20.46%,

11/26/24

.

2,086

2,060

991158812.UG.FTS.B,

20.46%,

11/26/24

.

113

111

991165225.UG.FTS.B,

20.46%,

11/26/24

.

175

109

991189950.UG.FTS.B,

20.46%,

11/26/24

.

189

187

991195046.UG.FTS.B,

20.46%,

11/26/24

.

1,726

1,692

991203124.UG.FTS.B,

20.46%,

11/26/24

.

332

327

991218256.UG.FTS.B,

20.46%,

11/26/24

.

2,918

200

991130991.UG.FTS.B,

20.97%,

11/26/24

.

1,973

1,943

991139677.UG.FTS.B,

20.97%,

11/26/24

.

45

45

991142576.UG.FTS.B,

20.97%,

11/26/24

.

384

378

991212679.UG.FTS.B,

20.97%,

11/26/24

.

291

287

991250306.UG.FTS.B,

20.97%,

11/26/24

.

56

55

991251274.UG.FTS.B,

20.97%,

11/26/24

.

711

702

991254536.UG.FTS.B,

20.97%,

11/26/24

.

607

599

991261465.UG.FTS.B,

20.97%,

11/26/24

.

622

609

991124386.UG.FTS.B,

21.46%,

11/26/24

.

299

294

991125012.UG.FTS.B,

21.46%,

11/26/24

.

697

687

991127662.UG.FTS.B,

21.46%,

11/26/24

.

6,714

6,615

991129032.UG.FTS.B,

21.46%,

11/26/24

.

3,771

3,712

991139001.UG.FTS.B,

21.46%,

11/26/24

.

2,150

2,100

991147177.UG.FTS.B,

21.46%,

11/26/24

.

102

101

991147747.UG.FTS.B,

21.46%,

11/26/24

.

808

794

991155101.UG.FTS.B,

21.46%,

11/26/24

.

55

54

991165687.UG.FTS.B,

21.46%,

11/26/24

.

1,131

1,105

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991202672.UG.FTS.B,

21.46%,

11/26/24

.

$

134

$

132

991205086.UG.FTS.B,

21.46%,

11/26/24

.

376

367

991205269.UG.FTS.B,

21.46%,

11/26/24

.

1,438

1,404

991217520.UG.FTS.B,

21.46%,

11/26/24

.

990

976

991332633.UG.FTS.B,

21.46%,

11/26/24

.

91

68

991124531.UG.FTS.B,

21.97%,

11/26/24

.

1,456

1,431

991134541.UG.FTS.B,

21.98%,

11/26/24

.

2,194

2,158

991142581.UG.FTS.B,

21.98%,

11/26/24

.

172

169

991179611.UG.FTS.B,

21.98%,

11/26/24

..

354

345

991183089.UG.FTS.B,

21.98%,

11/26/24

.

145

143

991250894.UG.FTS.B,

21.98%,

11/26/24

.

285

278

991265302.UG.FTS.B,

21.98%,

11/26/24

.

1,330

1,310

991139493.UG.FTS.B,

22.97%,

11/26/24

.

720

709

991180677.UG.FTS.B,

22.97%,

11/26/24

.

624

614

991259800.UG.FTS.B,

22.97%,

11/26/24

.

354

345

991314717.UG.FTS.B,

22.97%,

11/26/24

.

211

206

991125474.UG.FTS.B,

23.95%,

11/26/24

.

1,504

302

991133863.UG.FTS.B,

23.95%,

11/26/24

.

2,841

2,765

991154720.UG.FTS.B,

23.95%,

11/26/24

.

1,385

1,359

991275989.UG.FTS.B,

23.95%,

11/26/24

.

1,296

1,271

991139183.UG.FTS.B,

25.95%,

11/26/24

.

35

5

991172299.UG.FTS.B,

26.94%,

11/26/24

.

448

440

991321429.UG.FTS.B,

26.94%,

11/26/24

.

18

18

991132975.UG.FTS.B,

28.98%,

11/26/24

.

3,011

3,026

991146584.UG.FTS.B,

28.98%,

11/26/24

.

156

157

991147362.UG.FTS.B,

28.98%,

11/26/24

.

179

180

991132459.UG.FTS.B,

29.49%,

11/26/24

.

1,002

(62)

991132980.UG.FTS.B,

29.49%,

11/26/24

.

967

965

991138531.UG.FTS.B,

29.49%,

11/26/24

.

112

112

991139950.UG.FTS.B,

29.49%,

11/26/24

.

28

28

991143424.UG.FTS.B,

29.49%,

11/26/24

.

284

61

991143597.UG.FTS.B,

29.49%,

11/26/24

.

152

102

991144257.UG.FTS.B,

29.49%,

11/26/24

.

638

629

991144529.UG.FTS.B,

29.49%,

11/26/24

.

213

214

991145288.UG.FTS.B,

29.49%,

11/26/24

.

226

223

991146899.UG.FTS.B,

29.49%,

11/26/24

.

821

814

991155738.UG.FTS.B,

29.49%,

11/26/24

.

88

88

991157120.UG.FTS.B,

29.49%,

11/26/24

.

137

138

991134535.UG.FTS.B,

Zero

Cpn,

11/27/24

660

–

991139156.UG.FTS.B,

Zero

Cpn,

11/27/24

3,296

–

991141429.UG.FTS.B,

Zero

Cpn,

11/27/24

6,000

–

991143205.UG.FTS.B,

Zero

Cpn,

11/27/24

175

–

991143846.UG.FTS.B,

Zero

Cpn,

11/27/24

90

–

991144752.UG.FTS.B,

Zero

Cpn,

11/27/24

300

–

991153757.UG.FTS.B,

Zero

Cpn,

11/27/24

206

–

991157040.UG.FTS.B,

Zero

Cpn,

11/27/24

136

–

991222693.UG.FTS.B,

Zero

Cpn,

11/27/24

492

–

991245363.UG.FTS.B,

Zero

Cpn,

11/27/24

589

–

991345285.UG.FTS.B,

Zero

Cpn,

11/27/24

654

–

991194474.UG.FTS.B,

14.98%,

11/27/24

.

871

863

991173946.UG.FTS.B,

15%,

11/27/24

....

4

4

991326680.UG.FTS.B,

15%,

11/27/24

....

30

30

991340225.UG.FTS.B,

15%,

11/27/24

....

2,437

2,401

991153129.UG.FTS.B,

15.97%,

11/27/24

.

108

108

991197902.UG.FTS.B,

15.97%,

11/27/24

.

6,999

6,939

991199156.UG.FTS.B,

15.97%,

11/27/24

.

609

604

991229451.UG.FTS.B,

15.97%,

11/27/24

.

40

40

991248845.UG.FTS.B,

15.97%,

11/27/24

.

274

272

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

333

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991269633.UG.FTS.B,

15.97%,

11/27/24

.

$

7,358

$

7,293

991143234.UG.FTS.B,

16.99%,

11/27/24

.

2,082

2,063

991143730.UG.FTS.B,

16.99%,

11/27/24

.

91

90

991155107.UG.FTS.B,

16.99%,

11/27/24

.

1

1

991168876.UG.FTS.B,

16.99%,

11/27/24

.

1,359

1,346

991213989.UG.FTS.B,

16.99%,

11/27/24

.

1,028

1,017

991224330.UG.FTS.B,

16.99%,

11/27/24

.

411

407

991340740.UG.FTS.B,

16.99%,

11/27/24

.

2,113

2,090

991346650.UG.FTS.B,

16.99%,

11/27/24

.

4,081

4,022

991131436.UG.FTS.B,

17.99%,

11/27/24

.

262

260

991135757.UG.FTS.B,

17.99%,

11/27/24

.

2,986

2,953

991137629.UG.FTS.B,

17.99%,

11/27/24

.

542

537

991164583.UG.FTS.B,

17.99%,

11/27/24

.

314

310

991165876.UG.FTS.B,

17.99%,

11/27/24

.

1,886

1,867

991167230.UG.FTS.B,

17.99%,

11/27/24

.

1,666

1,648

991171681.UG.FTS.B,

17.99%,

11/27/24

.

188

186

991193364.UG.FTS.B,

17.99%,

11/27/24

.

16

16

991193917.UG.FTS.B,

17.99%,

11/27/24

.

398

394

991229636.UG.FTS.B,

17.99%,

11/27/24

.

315

312

991238147.UG.FTS.B,

17.99%,

11/27/24

.

94

93

991302342.UG.FTS.B,

17.99%,

11/27/24

.

277

272

991311828.UG.FTS.B,

17.99%,

11/27/24

.

440

433

991257943.UG.FTS.B,

18.21%,

11/27/24

.

47

46

991230469.UG.FTS.B,

18.8%,

11/27/24

..

33

33

991136660.UG.FTS.B,

18.97%,

11/27/24

.

1,156

1,143

991187964.UG.FTS.B,

18.97%,

11/27/24

.

249

245

991239596.UG.FTS.B,

18.97%,

11/27/24

.

516

510

991330539.UG.FTS.B,

18.97%,

11/27/24

.

211

208

991133969.UG.FTS.B,

19.21%,

11/27/24

.

1,422

1,407

991136674.UG.FTS.B,

19.21%,

11/27/24

.

1,592

1,574

991140136.UG.FTS.B,

19.21%,

11/27/24

.

690

682

991154356.UG.FTS.B,

19.21%,

11/27/24

.

330

326

991179150.UG.FTS.B,

19.21%,

11/27/24

.

146

145

991209491.UG.FTS.B,

19.21%,

11/27/24

.

774

761

991227450.UG.FTS.B,

19.21%,

11/27/24

.

386

381

991238897.UG.FTS.B,

19.21%,

11/27/24

.

1,830

1,810

991264023.UG.FTS.B,

19.21%,

11/27/24

.

19

19

991322157.UG.FTS.B,

19.21%,

11/27/24

.

1,637

1,608

991344153.UG.FTS.B,

19.21%,

11/27/24

.

32

32

991349075.UG.FTS.B,

19.21%,

11/27/24

.

200

196

991133352.UG.FTS.B,

19.8%,

11/27/24

..

22

22

991133407.UG.FTS.B,

19.8%,

11/27/24

..

326

323

991137424.UG.FTS.B,

19.8%,

11/27/24

..

1,191

1,176

991139359.UG.FTS.B,

19.8%,

11/27/24

..

1,090

75

991144831.UG.FTS.B,

19.8%,

11/27/24

..

304

0

991146767.UG.FTS.B,

19.8%,

11/27/24

..

72

71

991200628.UG.FTS.B,

19.8%,

11/27/24

..

5

5

991212046.UG.FTS.B,

19.8%,

11/27/24

..

1,589

1,570

991217757.UG.FTS.B,

19.8%,

11/27/24

..

2,903

2,868

991217849.UG.FTS.B,

19.8%,

11/27/24

..

1,051

1,042

991221997.UG.FTS.B,

19.8%,

11/27/24

..

587

580

991223353.UG.FTS.B,

19.8%,

11/27/24

..

350

346

991332506.UG.FTS.B,

19.8%,

11/27/24

..

119

117

991141384.UG.FTS.B,

19.97%,

11/27/24

.

10,044

9,901

991133458.UG.FTS.B,

19.99%,

11/27/24

.

524

528

991133653.UG.FTS.B,

19.99%,

11/27/24

.

1,047

1,054

991136764.UG.FTS.B,

19.99%,

11/27/24

.

176

35

991137535.UG.FTS.B,

19.99%,

11/27/24

.

1,153

1,161

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991138632.UG.FTS.B,

19.99%,

11/27/24

.

$

1,301

$

1,311

991140051.UG.FTS.B,

19.99%,

11/27/24

.

893

900

991156691.UG.FTS.B,

19.99%,

11/27/24

.

0

0

991138312.UG.FTS.B,

20.46%,

11/27/24

.

669

82

991140887.UG.FTS.B,

20.46%,

11/27/24

.

–

–

991180428.UG.FTS.B,

20.46%,

11/27/24

.

213

210

991257867.UG.FTS.B,

20.46%,

11/27/24

.

150

148

991279516.UG.FTS.B,

20.46%,

11/27/24

.

683

670

991333018.UG.FTS.B,

20.46%,

11/27/24

.

2,114

2,073

991134188.UG.FTS.B,

20.97%,

11/27/24

.

251

248

991141361.UG.FTS.B,

20.97%,

11/27/24

.

302

301

991142242.UG.FTS.B,

20.97%,

11/27/24

.

259

255

991147391.UG.FTS.B,

20.97%,

11/27/24

.

389

386

991150859.UG.FTS.B,

20.97%,

11/27/24

.

137

136

991159011.UG.FTS.B,

20.97%,

11/27/24

..

1

1

991176431.UG.FTS.B,

20.97%,

11/27/24

.

334

330

991216860.UG.FTS.B,

20.97%,

11/27/24

.

2,497

2,464

991299624.UG.FTS.B,

20.97%,

11/27/24

.

884

872

991137442.UG.FTS.B,

21.46%,

11/27/24

.

485

478

991142775.UG.FTS.B,

21.46%,

11/27/24

.

646

636

991144542.UG.FTS.B,

21.46%,

11/27/24

.

1,546

1,524

991150193.UG.FTS.B,

21.46%,

11/27/24

.

1,429

1,408

991159829.UG.FTS.B,

21.46%,

11/27/24

.

882

869

991165343.UG.FTS.B,

21.46%,

11/27/24

.

372

366

991179754.UG.FTS.B,

21.46%,

11/27/24

.

15

15

991188769.UG.FTS.B,

21.46%,

11/27/24

.

45

44

991195929.UG.FTS.B,

21.46%,

11/27/24

.

136

134

991217112.UG.FTS.B,

21.46%,

11/27/24

.

498

491

991222847.UG.FTS.B,

21.97%,

11/27/24

.

470

462

991135454.UG.FTS.B,

21.98%,

11/27/24

.

1,254

1,236

991136875.UG.FTS.B,

21.98%,

11/27/24

.

9

8

991150160.UG.FTS.B,

21.98%,

11/27/24

.

266

18

991158493.UG.FTS.B,

21.98%,

11/27/24

.

469

461

991211763.UG.FTS.B,

21.98%,

11/27/24

.

1,488

967

991150078.UG.FTS.B,

22.95%,

11/27/24

.

1,006

988

991136781.UG.FTS.B,

22.97%,

11/27/24

.

44

44

991139768.UG.FTS.B,

22.97%,

11/27/24

.

2,639

2,593

991144704.UG.FTS.B,

22.97%,

11/27/24

.

2,721

2,679

991151923.UG.FTS.B,

22.97%,

11/27/24

.

522

514

991156801.UG.FTS.B,

22.97%,

11/27/24

.

574

561

991157209.UG.FTS.B,

22.97%,

11/27/24

.

617

607

991358160.UG.FTS.B,

22.97%,

11/27/24

.

–

–

991225270.UG.FTS.B,

23.95%,

11/27/24

.

264

259

991342840.UG.FTS.B,

23.95%,

11/27/24

.

475

462

991145320.UG.FTS.B,

25.94%,

11/27/24

.

240

236

991136925.UG.FTS.B,

27.95%,

11/27/24

.

85

85

991134868.UG.FTS.B,

27.99%,

11/27/24

.

409

411

991131727.UG.FTS.B,

28.98%,

11/27/24

.

1,920

1,902

991133623.UG.FTS.B,

28.98%,

11/27/24

.

632

634

991136016.UG.FTS.B,

28.98%,

11/27/24

.

2,756

2,729

991136113.UG.FTS.B,

28.98%,

11/27/24

..

830

835

991136265.UG.FTS.B,

28.98%,

11/27/24

.

2,043

2,024

991136292.UG.FTS.B,

28.98%,

11/27/24

.

26

26

991136335.UG.FTS.B,

28.98%,

11/27/24

.

461

462

991136794.UG.FTS.B,

28.98%,

11/27/24

.

284

280

991137320.UG.FTS.B,

28.98%,

11/27/24

.

120

118

991137401.UG.FTS.B,

28.98%,

11/27/24

.

1,719

1,723

991137681.UG.FTS.B,

28.98%,

11/27/24

.

458

462

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

334

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991139683.UG.FTS.B,

28.98%,

11/27/24

.

$

3,470

$

3,494

991139894.UG.FTS.B,

28.98%,

11/27/24

.

291

20

991140318.UG.FTS.B,

28.98%,

11/27/24

.

46

3

991141680.UG.FTS.B,

28.98%,

11/27/24

.

2,726

2,701

991143966.UG.FTS.B,

28.98%,

11/27/24

.

141

140

991144430.UG.FTS.B,

28.98%,

11/27/24

.

–

–

991145237.UG.FTS.B,

28.98%,

11/27/24

.

381

384

991146278.UG.FTS.B,

28.98%,

11/27/24

.

121

120

991146536.UG.FTS.B,

28.98%,

11/27/24

.

2,003

2,005

991147903.UG.FTS.B,

28.98%,

11/27/24

.

1,024

217

991148645.UG.FTS.B,

28.98%,

11/27/24

.

102

102

991149767.UG.FTS.B,

28.98%,

11/27/24

.

180

181

991150916.UG.FTS.B,

28.98%,

11/27/24

.

26

26

991153018.UG.FTS.B,

28.98%,

11/27/24

.

142

143

991153254.UG.FTS.B,

28.98%,

11/27/24

.

456

(23)

991154494.UG.FTS.B,

28.98%,

11/27/24

.

252

253

991155413.UG.FTS.B,

28.98%,

11/27/24

.

1,125

1,112

991156338.UG.FTS.B,

28.98%,

11/27/24

.

51

51

991156877.UG.FTS.B,

28.98%,

11/27/24

.

1,747

1,739

991157464.UG.FTS.B,

28.98%,

11/27/24

.

621

47

991157851.UG.FTS.B,

28.98%,

11/27/24

.

242

160

991159411.UG.FTS.B,

28.98%,

11/27/24

..

61

60

991131337.UG.FTS.B,

29.49%,

11/27/24

.

338

46

991131957.UG.FTS.B,

29.49%,

11/27/24

.

–

–

991132813.UG.FTS.B,

29.49%,

11/27/24

.

295

295

991132867.UG.FTS.B,

29.49%,

11/27/24

.

21

21

991136166.UG.FTS.B,

29.49%,

11/27/24

.

853

858

991136247.UG.FTS.B,

29.49%,

11/27/24

.

274

276

991136599.UG.FTS.B,

29.49%,

11/27/24

.

1,409

(49)

991137126.UG.FTS.B,

29.49%,

11/27/24

.

599

592

991138069.UG.FTS.B,

29.49%,

11/27/24

.

9

9

991138272.UG.FTS.B,

29.49%,

11/27/24

.

819

821

991138662.UG.FTS.B,

29.49%,

11/27/24

.

81

81

991139221.UG.FTS.B,

29.49%,

11/27/24

.

2,164

2,175

991139596.UG.FTS.B,

29.49%,

11/27/24

.

208

205

991139825.UG.FTS.B,

29.49%,

11/27/24

.

266

260

991140050.UG.FTS.B,

29.49%,

11/27/24

.

172

170

991140086.UG.FTS.B,

29.49%,

11/27/24

.

433

433

991141537.UG.FTS.B,

29.49%,

11/27/24

.

796

799

991141591.UG.FTS.B,

29.49%,

11/27/24

.

4,297

4,335

991142241.UG.FTS.B,

29.49%,

11/27/24

.

506

506

991143723.UG.FTS.B,

29.49%,

11/27/24

.

115

115

991145452.UG.FTS.B,

29.49%,

11/27/24

.

74

11

991146149.UG.FTS.B,

29.49%,

11/27/24

.

102

103

991147084.UG.FTS.B,

29.49%,

11/27/24

.

646

651

991147761.UG.FTS.B,

29.49%,

11/27/24

.

125

126

991148029.UG.FTS.B,

29.49%,

11/27/24

.

19

19

991148735.UG.FTS.B,

29.49%,

11/27/24

.

257

259

991149782.UG.FTS.B,

29.49%,

11/27/24

.

441

444

991149915.UG.FTS.B,

29.49%,

11/27/24

.

105

105

991150561.UG.FTS.B,

29.49%,

11/27/24

.

–

–

991151310.UG.FTS.B,

29.49%,

11/27/24

.

110

15

991151716.UG.FTS.B,

29.49%,

11/27/24

.

128

127

991152084.UG.FTS.B,

29.49%,

11/27/24

.

42

42

991154506.UG.FTS.B,

29.49%,

11/27/24

.

96

97

991154606.UG.FTS.B,

29.49%,

11/27/24

.

103

103

991155478.UG.FTS.B,

29.49%,

11/27/24

.

68

68

991159222.UG.FTS.B,

29.49%,

11/27/24

.

636

629

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991159320.UG.FTS.B,

29.49%,

11/27/24

.

$

91

$

90

991142583.UG.FTS.B,

Zero

Cpn,

11/28/24

68

–

991146922.UG.FTS.B,

Zero

Cpn,

11/28/24

1,739

–

991156992.UG.FTS.B,

Zero

Cpn,

11/28/24

951

–

991191191.UG.FTS.B,

Zero

Cpn,

11/28/24

141

–

991214210.UG.FTS.B,

Zero

Cpn,

11/28/24

908

–

991223282.UG.FTS.B,

Zero

Cpn,

11/28/24

1,999

–

991332314.UG.FTS.B,

Zero

Cpn,

11/28/24

294

–

991148717.UG.FTS.B,

14.98%,

11/28/24

.

289

286

991194221.UG.FTS.B,

14.98%,

11/28/24

.

616

610

991232262.UG.FTS.B,

14.98%,

11/28/24

.

139

138

991164558.UG.FTS.B,

15%,

11/28/24

....

737

730

991155681.UG.FTS.B,

15.97%,

11/28/24

.

1,692

1,668

991195096.UG.FTS.B,

15.97%,

11/28/24

.

230

228

991232398.UG.FTS.B,

15.97%,

11/28/24

.

388

385

991273717.UG.FTS.B,

15.97%,

11/28/24

.

637

631

991332722.UG.FTS.B,

15.97%,

11/28/24

.

374

369

991144663.UG.FTS.B,

16.99%,

11/28/24

.

369

365

991145311.UG.FTS.B,

16.99%,

11/28/24

..

263

260

991149169.UG.FTS.B,

16.99%,

11/28/24

.

825

818

991213840.UG.FTS.B,

16.99%,

11/28/24

.

684

674

991345796.UG.FTS.B,

16.99%,

11/28/24

.

1,223

1,205

991144191.UG.FTS.B,

17.99%,

11/28/24

.

1,563

1,542

991146518.UG.FTS.B,

17.99%,

11/28/24

.

189

187

991149675.UG.FTS.B,

17.99%,

11/28/24

.

236

234

991193408.UG.FTS.B,

17.99%,

11/28/24

.

260

258

991217642.UG.FTS.B,

17.99%,

11/28/24

.

330

327

991143728.UG.FTS.B,

18.21%,

11/28/24

.

537

335

991168907.UG.FTS.B,

18.97%,

11/28/24

.

–

–

991176526.UG.FTS.B,

18.97%,

11/28/24

.

1,421

1,406

991195592.UG.FTS.B,

18.97%,

11/28/24

.

217

215

991196672.UG.FTS.B,

18.97%,

11/28/24

.

1,367

1,353

991217180.UG.FTS.B,

18.97%,

11/28/24

.

848

835

991254497.UG.FTS.B,

18.97%,

11/28/24

.

441

436

991268849.UG.FTS.B,

18.97%,

11/28/24

.

246

243

991331498.UG.FTS.B,

18.97%,

11/28/24

.

820

806

991143592.UG.FTS.B,

19.21%,

11/28/24

.

1,899

1,878

991145911.UG.FTS.B,

19.21%,

11/28/24

..

134

16

991160048.UG.FTS.B,

19.21%,

11/28/24

.

117

115

991161789.UG.FTS.B,

19.21%,

11/28/24

.

111

110

991170972.UG.FTS.B,

19.21%,

11/28/24

.

154

152

991188168.UG.FTS.B,

19.21%,

11/28/24

.

300

296

991198356.UG.FTS.B,

19.21%,

11/28/24

.

497

492

991201541.UG.FTS.B,

19.21%,

11/28/24

.

2,240

2,213

991217213.UG.FTS.B,

19.21%,

11/28/24

.

694

686

991236965.UG.FTS.B,

19.21%,

11/28/24

.

297

186

991253399.UG.FTS.B,

19.21%,

11/28/24

.

374

369

991264050.UG.FTS.B,

19.21%,

11/28/24

.

199

197

991274860.UG.FTS.B,

19.21%,

11/28/24

.

439

431

991277054.UG.FTS.B,

19.21%,

11/28/24

.

1,154

1,141

991293437.UG.FTS.B,

19.21%,

11/28/24

.

264

261

991166621.UG.FTS.B,

19.46%,

11/28/24

.

268

265

991150477.UG.FTS.B,

19.8%,

11/28/24

..

90

89

991151832.UG.FTS.B,

19.8%,

11/28/24

..

387

382

991163208.UG.FTS.B,

19.8%,

11/28/24

..

10

10

991168791.UG.FTS.B,

19.8%,

11/28/24

..

2,872

2,838

991189562.UG.FTS.B,

19.8%,

11/28/24

..

178

175

991190045.UG.FTS.B,

19.8%,

11/28/24

..

54

53

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

335

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991212968.UG.FTS.B,

19.8%,

11/28/24

..

$

1,048

$

1,035

991222744.UG.FTS.B,

19.8%,

11/28/24

..

201

198

991252549.UG.FTS.B,

19.8%,

11/28/24

..

1,131

1,117

991258450.UG.FTS.B,

19.8%,

11/28/24

..

332

326

991355941.UG.FTS.B,

19.8%,

11/28/24

..

1,329

1,304

991142872.UG.FTS.B,

19.99%,

11/28/24

.

833

838

991145907.UG.FTS.B,

19.99%,

11/28/24

.

848

842

991146497.UG.FTS.B,

19.99%,

11/28/24

.

346

349

991149638.UG.FTS.B,

19.99%,

11/28/24

.

1,584

1,596

991159150.UG.FTS.B,

19.99%,

11/28/24

.

108

109

991143956.UG.FTS.B,

20.46%,

11/28/24

.

1,200

1,183

991150251.UG.FTS.B,

20.46%,

11/28/24

.

433

427

991150540.UG.FTS.B,

20.46%,

11/28/24

.

185

183

991194986.UG.FTS.B,

20.46%,

11/28/24

.

79

78

991232626.UG.FTS.B,

20.46%,

11/28/24

.

179

12

991146514.UG.FTS.B,

20.97%,

11/28/24

.

548

547

991147331.UG.FTS.B,

20.97%,

11/28/24

.

2,240

2,210

991169829.UG.FTS.B,

20.97%,

11/28/24

.

2,528

2,492

991190759.UG.FTS.B,

20.97%,

11/28/24

.

371

366

991197495.UG.FTS.B,

20.97%,

11/28/24

.

146

146

991216129.UG.FTS.B,

20.97%,

11/28/24

.

529

522

991232280.UG.FTS.B,

20.97%,

11/28/24

.

173

171

991160992.UG.FTS.B,

21.46%,

11/28/24

.

228

224

991166781.UG.FTS.B,

21.46%,

11/28/24

.

2,093

2,063

991169727.UG.FTS.B,

21.46%,

11/28/24

.

1,675

1,650

991216538.UG.FTS.B,

21.46%,

11/28/24

.

900

62

991220521.UG.FTS.B,

21.46%,

11/28/24

.

18

18

991238659.UG.FTS.B,

21.46%,

11/28/24

.

2,497

2,461

991239355.UG.FTS.B,

21.46%,

11/28/24

.

6,341

6,195

991153356.UG.FTS.B,

21.97%,

11/28/24

.

346

341

991198294.UG.FTS.B,

21.97%,

11/28/24

.

105

103

991143292.UG.FTS.B,

21.98%,

11/28/24

.

573

564

991143507.UG.FTS.B,

21.98%,

11/28/24

.

183

180

991147630.UG.FTS.B,

21.98%,

11/28/24

.

1,554

1,528

991149576.UG.FTS.B,

21.98%,

11/28/24

.

2,036

1,989

991167020.UG.FTS.B,

21.98%,

11/28/24

.

96

21

991182716.UG.FTS.B,

21.98%,

11/28/24

.

499

488

991199446.UG.FTS.B,

21.98%,

11/28/24

.

820

808

991201558.UG.FTS.B,

21.98%,

11/28/24

.

737

726

991227683.UG.FTS.B,

21.98%,

11/28/24

.

131

128

991251155.UG.FTS.B,

21.98%,

11/28/24

.

1,383

1,362

991162903.UG.FTS.B,

22.95%,

11/28/24

.

43

43

991166937.UG.FTS.B,

22.95%,

11/28/24

.

48

48

991207457.UG.FTS.B,

22.95%,

11/28/24

.

602

586

991216169.UG.FTS.B,

22.95%,

11/28/24

.

1,266

1,242

991143170.UG.FTS.B,

22.97%,

11/28/24

.

217

(2)

991143207.UG.FTS.B,

22.97%,

11/28/24

.

427

420

991153504.UG.FTS.B,

22.97%,

11/28/24

.

266

262

991199081.UG.FTS.B,

22.97%,

11/28/24

.

256

252

991199100.UG.FTS.B,

22.97%,

11/28/24

.

9

9

991213837.UG.FTS.B,

22.97%,

11/28/24

.

74

73

991270842.UG.FTS.B,

22.97%,

11/28/24

.

428

421

991322514.UG.FTS.B,

22.97%,

11/28/24

.

1,755

1,713

991148425.UG.FTS.B,

23.95%,

11/28/24

.

2,396

2,333

991231769.UG.FTS.B,

23.95%,

11/28/24

.

4,823

4,743

991213313.UG.FTS.B,

26.94%,

11/28/24

.

487

477

991216089.UG.FTS.B,

26.94%,

11/28/24

.

2,033

1,995

991146472.UG.FTS.B,

27.99%,

11/28/24

.

865

871

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991178453.UG.FTS.B,

27.99%,

11/28/24

.

$

834

$

57

991142742.UG.FTS.B,

28.98%,

11/28/24

.

1,179

1,186

991142817.UG.FTS.B,

28.98%,

11/28/24

.

584

580

991142924.UG.FTS.B,

28.98%,

11/28/24

.

450

448

991143056.UG.FTS.B,

28.98%,

11/28/24

.

1,470

99

991143124.UG.FTS.B,

28.98%,

11/28/24

.

249

33

991143525.UG.FTS.B,

28.98%,

11/28/24

.

24

24

991144560.UG.FTS.B,

28.98%,

11/28/24

.

3

3

991145378.UG.FTS.B,

28.98%,

11/28/24

.

95

94

991145396.UG.FTS.B,

28.98%,

11/28/24

.

299

20

991146261.UG.FTS.B,

28.98%,

11/28/24

.

186

184

991146586.UG.FTS.B,

28.98%,

11/28/24

.

60

60

991146876.UG.FTS.B,

28.98%,

11/28/24

.

511

510

991147533.UG.FTS.B,

28.98%,

11/28/24

.

696

697

991147547.UG.FTS.B,

28.98%,

11/28/24

.

944

936

991147871.UG.FTS.B,

28.98%,

11/28/24

.

5

5

991148315.UG.FTS.B,

28.98%,

11/28/24

.

1,510

1,512

991149034.UG.FTS.B,

28.98%,

11/28/24

.

4,454

592

991149355.UG.FTS.B,

28.98%,

11/28/24

.

880

882

991149432.UG.FTS.B,

28.98%,

11/28/24

.

2,205

2,202

991149683.UG.FTS.B,

28.98%,

11/28/24

.

55

43

991150264.UG.FTS.B,

28.98%,

11/28/24

.

11

11

991151117.UG.FTS.B,

28.98%,

11/28/24

..

577

579

991151631.UG.FTS.B,

28.98%,

11/28/24

.

136

136

991151837.UG.FTS.B,

28.98%,

11/28/24

.

133

131

991151890.UG.FTS.B,

28.98%,

11/28/24

.

74

74

991152605.UG.FTS.B,

28.98%,

11/28/24

.

881

875

991153777.UG.FTS.B,

28.98%,

11/28/24

.

333

70

991153791.UG.FTS.B,

28.98%,

11/28/24

.

490

488

991154524.UG.FTS.B,

28.98%,

11/28/24

.

238

240

991155193.UG.FTS.B,

28.98%,

11/28/24

.

274

276

991156918.UG.FTS.B,

28.98%,

11/28/24

.

0

0

991157101.UG.FTS.B,

28.98%,

11/28/24

.

869

875

991158343.UG.FTS.B,

28.98%,

11/28/24

.

1,688

1,681

991158370.UG.FTS.B,

28.98%,

11/28/24

.

353

354

991158659.UG.FTS.B,

28.98%,

11/28/24

.

619

615

991186304.UG.FTS.B,

28.98%,

11/28/24

.

336

337

991220671.UG.FTS.B,

28.98%,

11/28/24

.

587

584

991294963.UG.FTS.B,

28.98%,

11/28/24

.

108

107

991142874.UG.FTS.B,

29.49%,

11/28/24

.

555

559

991143196.UG.FTS.B,

29.49%,

11/28/24

.

321

324

991143321.UG.FTS.B,

29.49%,

11/28/24

.

293

295

991143501.UG.FTS.B,

29.49%,

11/28/24

.

1,228

1,228

991143629.UG.FTS.B,

29.49%,

11/28/24

.

1,070

1,065

991143772.UG.FTS.B,

29.49%,

11/28/24

.

187

188

991143977.UG.FTS.B,

29.49%,

11/28/24

.

151

10

991144020.UG.FTS.B,

29.49%,

11/28/24

.

1,280

1,292

991144249.UG.FTS.B,

29.49%,

11/28/24

.

248

250

991144250.UG.FTS.B,

29.49%,

11/28/24

.

237

239

991144659.UG.FTS.B,

29.49%,

11/28/24

.

126

9

991144685.UG.FTS.B,

29.49%,

11/28/24

.

1,601

1,576

991145177.UG.FTS.B,

29.49%,

11/28/24

.

261

263

991145498.UG.FTS.B,

29.49%,

11/28/24

.

665

672

991146041.UG.FTS.B,

29.49%,

11/28/24

.

417

421

991146534.UG.FTS.B,

29.49%,

11/28/24

.

35

35

991146846.UG.FTS.B,

29.49%,

11/28/24

.

58

58

991146864.UG.FTS.B,

29.49%,

11/28/24

.

148

149

991146991.UG.FTS.B,

29.49%,

11/28/24

.

143

140

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

336

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991147668.UG.FTS.B,

29.49%,

11/28/24

.

$

24

$

24

991148558.UG.FTS.B,

29.49%,

11/28/24

.

253

254

991150866.UG.FTS.B,

29.49%,

11/28/24

.

34

33

991151597.UG.FTS.B,

29.49%,

11/28/24

.

829

836

991151731.UG.FTS.B,

29.49%,

11/28/24

.

147

148

991152923.UG.FTS.B,

29.49%,

11/28/24

.

604

602

991153180.UG.FTS.B,

29.49%,

11/28/24

.

2,113

2,129

991153263.UG.FTS.B,

29.49%,

11/28/24

.

290

287

991153896.UG.FTS.B,

29.49%,

11/28/24

.

381

375

991154246.UG.FTS.B,

29.49%,

11/28/24

.

154

155

991154357.UG.FTS.B,

29.49%,

11/28/24

.

175

176

991156140.UG.FTS.B,

29.49%,

11/28/24

.

27

26

991156207.UG.FTS.B,

29.49%,

11/28/24

.

86

85

991157674.UG.FTS.B,

29.49%,

11/28/24

.

119

120

991157722.UG.FTS.B,

29.49%,

11/28/24

.

352

238

991158156.UG.FTS.B,

29.49%,

11/28/24

.

529

533

991159070.UG.FTS.B,

29.49%,

11/28/24

.

244

246

991159214.UG.FTS.B,

29.49%,

11/28/24

.

79

58

991159392.UG.FTS.B,

29.49%,

11/28/24

.

79

79

991163551.UG.FTS.B,

29.49%,

11/28/24

.

748

744

991175476.UG.FTS.B,

29.49%,

11/28/24

.

145

144

991179397.UG.FTS.B,

29.49%,

11/28/24

.

82

7

991179981.UG.FTS.B,

29.49%,

11/28/24

.

90

90

991180197.UG.FTS.B,

29.49%,

11/28/24

.

341

342

991223836.UG.FTS.B,

29.49%,

11/28/24

.

1,606

108

991230823.UG.FTS.B,

29.49%,

11/28/24

.

80

81

991238098.UG.FTS.B,

29.49%,

11/28/24

.

58

58

991250338.UG.FTS.B,

29.49%,

11/28/24

.

1,285

1,274

991328673.UG.FTS.B,

29.49%,

11/28/24

.

144

11

991328767.UG.FTS.B,

29.49%,

11/28/24

.

99

98

991149821.UG.FTS.B,

Zero

Cpn,

11/29/24

894

–

991157098.UG.FTS.B,

Zero

Cpn,

11/29/24

119

–

991166291.UG.FTS.B,

Zero

Cpn,

11/29/24

345

–

991169617.UG.FTS.B,

Zero

Cpn,

11/29/24

160

–

991191095.UG.FTS.B,

Zero

Cpn,

11/29/24

166

–

991251395.UG.FTS.B,

Zero

Cpn,

11/29/24

369

25

991251423.UG.FTS.B,

Zero

Cpn,

11/29/24

204

–

991276108.UG.FTS.B,

Zero

Cpn,

11/29/24

750

52

991338674.UG.FTS.B,

Zero

Cpn,

11/29/24

54

–

991210665.UG.FTS.B,

14.98%,

11/29/24

.

46

46

991218283.UG.FTS.B,

14.98%,

11/29/24

.

4,297

4,257

991154256.UG.FTS.B,

15.97%,

11/29/24

.

402

28

991181007.UG.FTS.B,

15.97%,

11/29/24

.

397

31

991182908.UG.FTS.B,

15.97%,

11/29/24

.

383

380

991349508.UG.FTS.B,

15.97%,

11/29/24

.

277

274

991201692.UG.FTS.B,

16.99%,

11/29/24

.

128

126

991217625.UG.FTS.B,

16.99%,

11/29/24

.

1,235

1,224

991345544.UG.FTS.B,

16.99%,

11/29/24

.

1

1

991151298.UG.FTS.B,

17.99%,

11/29/24

.

227

16

991154797.UG.FTS.B,

17.99%,

11/29/24

.

766

758

991160168.UG.FTS.B,

17.99%,

11/29/24

.

539

534

991166679.UG.FTS.B,

17.99%,

11/29/24

.

29

29

991176311.UG.FTS.B,

17.99%,

11/29/24

..

449

34

991185541.UG.FTS.B,

17.99%,

11/29/24

.

133

132

991196824.UG.FTS.B,

17.99%,

11/29/24

.

165

164

991246744.UG.FTS.B,

17.99%,

11/29/24

.

824

816

991263262.UG.FTS.B,

17.99%,

11/29/24

.

58

57

991264889.UG.FTS.B,

17.99%,

11/29/24

.

70

69

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991299503.UG.FTS.B,

17.99%,

11/29/24

.

$

315

$

311

991299913.UG.FTS.B,

17.99%,

11/29/24

.

493

488

991217075.UG.FTS.B,

18.8%,

11/29/24

..

1,055

1,035

991156348.UG.FTS.B,

18.97%,

11/29/24

.

194

192

991181078.UG.FTS.B,

18.97%,

11/29/24

.

32

31

991196288.UG.FTS.B,

18.97%,

11/29/24

.

109

108

991197152.UG.FTS.B,

18.97%,

11/29/24

.

7,649

7,570

991258245.UG.FTS.B,

18.97%,

11/29/24

.

253

250

991331054.UG.FTS.B,

18.97%,

11/29/24

.

5,754

5,660

991332951.UG.FTS.B,

18.97%,

11/29/24

.

329

323

991152066.UG.FTS.B,

19.21%,

11/29/24

.

225

222

991159773.UG.FTS.B,

19.21%,

11/29/24

.

908

898

991177776.UG.FTS.B,

19.21%,

11/29/24

.

1,598

1,581

991190438.UG.FTS.B,

19.21%,

11/29/24

.

2,019

1,997

991207694.UG.FTS.B,

19.21%,

11/29/24

.

3,283

3,227

991289288.UG.FTS.B,

19.21%,

11/29/24

.

374

368

991158430.UG.FTS.B,

19.8%,

11/29/24

..

105

13

991174431.UG.FTS.B,

19.8%,

11/29/24

..

300

296

991189851.UG.FTS.B,

19.8%,

11/29/24

..

557

550

991217431.UG.FTS.B,

19.8%,

11/29/24

..

165

163

991266355.UG.FTS.B,

19.8%,

11/29/24

..

331

327

991285540.UG.FTS.B,

19.8%,

11/29/24

..

1,082

1,073

991295877.UG.FTS.B,

19.8%,

11/29/24

..

401

394

991348718.UG.FTS.B,

19.8%,

11/29/24

..

388

244

991151021.UG.FTS.B,

19.99%,

11/29/24

.

800

800

991153454.UG.FTS.B,

19.99%,

11/29/24

.

273

271

991155273.UG.FTS.B,

19.99%,

11/29/24

.

556

556

991161380.UG.FTS.B,

19.99%,

11/29/24

.

5,650

5,697

991170740.UG.FTS.B,

19.99%,

11/29/24

.

134

133

991179894.UG.FTS.B,

19.99%,

11/29/24

.

494

498

991185891.UG.FTS.B,

19.99%,

11/29/24

.

1,972

1,988

991319295.UG.FTS.B,

19.99%,

11/29/24

.

250

20

991365168.UG.FTS.B,

19.99%,

11/29/24

.

2

2

991162649.UG.FTS.B,

20.46%,

11/29/24

.

866

540

991178388.UG.FTS.B,

20.46%,

11/29/24

.

221

219

991194338.UG.FTS.B,

20.46%,

11/29/24

.

72

71

991215030.UG.FTS.B,

20.46%,

11/29/24

.

832

822

991218404.UG.FTS.B,

20.46%,

11/29/24

.

5,970

5,890

991222248.UG.FTS.B,

20.46%,

11/29/24

.

532

525

991264252.UG.FTS.B,

20.46%,

11/29/24

.

243

240

991345719.UG.FTS.B,

20.46%,

11/29/24

.

1,858

33

991150621.UG.FTS.B,

20.97%,

11/29/24

.

213

210

991153501.UG.FTS.B,

20.97%,

11/29/24

.

195

193

991155581.UG.FTS.B,

20.97%,

11/29/24

.

412

–

991163927.UG.FTS.B,

20.97%,

11/29/24

.

1,459

1,439

991185213.UG.FTS.B,

20.97%,

11/29/24

.

132

130

991187935.UG.FTS.B,

20.97%,

11/29/24

.

106

104

991199463.UG.FTS.B,

20.97%,

11/29/24

.

89

88

991200558.UG.FTS.B,

20.97%,

11/29/24

.

373

29

991208407.UG.FTS.B,

20.97%,

11/29/24

.

295

289

991231794.UG.FTS.B,

20.97%,

11/29/24

.

2,285

2,256

991149909.UG.FTS.B,

21.46%,

11/29/24

.

7

7

991153795.UG.FTS.B,

21.46%,

11/29/24

.

865

851

991159540.UG.FTS.B,

21.46%,

11/29/24

.

184

182

991166957.UG.FTS.B,

21.46%,

11/29/24

.

1,142

1,116

991168708.UG.FTS.B,

21.46%,

11/29/24

.

1,310

1,298

991186797.UG.FTS.B,

21.46%,

11/29/24

.

99

98

991190207.UG.FTS.B,

21.46%,

11/29/24

.

1,362

1,349

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

337

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991195336.UG.FTS.B,

21.46%,

11/29/24

.

$

310

$

305

991198258.UG.FTS.B,

21.46%,

11/29/24

.

732

721

991206316.UG.FTS.B,

21.46%,

11/29/24

.

279

275

991225793.UG.FTS.B,

21.46%,

11/29/24

.

499

492

991233067.UG.FTS.B,

21.46%,

11/29/24

.

721

56

991246596.UG.FTS.B,

21.46%,

11/29/24

.

291

286

991275791.UG.FTS.B,

21.46%,

11/29/24

.

380

373

991276814.UG.FTS.B,

21.46%,

11/29/24

.

191

188

991151426.UG.FTS.B,

21.98%,

11/29/24

.

701

89

991154077.UG.FTS.B,

21.98%,

11/29/24

.

33

33

991171708.UG.FTS.B,

21.98%,

11/29/24

.

355

350

991210617.UG.FTS.B,

21.98%,

11/29/24

.

101

99

991217988.UG.FTS.B,

21.98%,

11/29/24

.

542

42

991227865.UG.FTS.B,

21.98%,

11/29/24

.

60

0

991230066.UG.FTS.B,

21.98%,

11/29/24

.

146

144

991325090.UG.FTS.B,

21.98%,

11/29/24

.

498

486

991342123.UG.FTS.B,

21.98%,

11/29/24

.

33

33

991195338.UG.FTS.B,

22.95%,

11/29/24

.

361

355

991151698.UG.FTS.B,

22.97%,

11/29/24

.

1,114

1,097

991171646.UG.FTS.B,

22.97%,

11/29/24

.

38

32

991178511.UG.FTS.B,

22.97%,

11/29/24

..

280

276

991260944.UG.FTS.B,

22.97%,

11/29/24

.

78

76

991152627.UG.FTS.B,

23.95%,

11/29/24

.

416

410

991209436.UG.FTS.B,

23.95%,

11/29/24

.

70

69

991270857.UG.FTS.B,

25.95%,

11/29/24

.

500

491

991152322.UG.FTS.B,

26.94%,

11/29/24

.

1,394

1,367

991162953.UG.FTS.B,

26.94%,

11/29/24

.

203

200

991216328.UG.FTS.B,

26.94%,

11/29/24

.

280

275

991225936.UG.FTS.B,

26.94%,

11/29/24

.

320

313

991149684.UG.FTS.B,

28.98%,

11/29/24

.

136

135

991149810.UG.FTS.B,

28.98%,

11/29/24

.

171

173

991149912.UG.FTS.B,

28.98%,

11/29/24

.

318

317

991149945.UG.FTS.B,

28.98%,

11/29/24

.

1,231

1,240

991149988.UG.FTS.B,

28.98%,

11/29/24

.

470

473

991151094.UG.FTS.B,

28.98%,

11/29/24

.

321

323

991151137.UG.FTS.B,

28.98%,

11/29/24

..

696

699

991151351.UG.FTS.B,

28.98%,

11/29/24

.

139

138

991151364.UG.FTS.B,

28.98%,

11/29/24

.

449

451

991151477.UG.FTS.B,

28.98%,

11/29/24

.

324

326

991151728.UG.FTS.B,

28.98%,

11/29/24

.

173

174

991151942.UG.FTS.B,

28.98%,

11/29/24

.

11

11

991152087.UG.FTS.B,

28.98%,

11/29/24

.

2

2

991152201.UG.FTS.B,

28.98%,

11/29/24

.

822

815

991152254.UG.FTS.B,

28.98%,

11/29/24

.

53

53

991152280.UG.FTS.B,

28.98%,

11/29/24

.

432

29

991152326.UG.FTS.B,

28.98%,

11/29/24

.

14

14

991152328.UG.FTS.B,

28.98%,

11/29/24

.

208

209

991152419.UG.FTS.B,

28.98%,

11/29/24

.

58

58

991152492.UG.FTS.B,

28.98%,

11/29/24

.

–

–

991152566.UG.FTS.B,

28.98%,

11/29/24

.

368

79

991152664.UG.FTS.B,

28.98%,

11/29/24

.

246

247

991152924.UG.FTS.B,

28.98%,

11/29/24

.

71

71

991153004.UG.FTS.B,

28.98%,

11/29/24

.

249

247

991153156.UG.FTS.B,

28.98%,

11/29/24

.

0

0

991153250.UG.FTS.B,

28.98%,

11/29/24

.

323

322

991153608.UG.FTS.B,

28.98%,

11/29/24

.

260

35

991155172.UG.FTS.B,

28.98%,

11/29/24

.

88

87

991155365.UG.FTS.B,

28.98%,

11/29/24

.

162

162

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991155546.UG.FTS.B,

28.98%,

11/29/24

.

$

374

$

255

991155648.UG.FTS.B,

28.98%,

11/29/24

.

115

116

991157557.UG.FTS.B,

28.98%,

11/29/24

.

74

73

991157592.UG.FTS.B,

28.98%,

11/29/24

.

205

204

991157704.UG.FTS.B,

28.98%,

11/29/24

.

736

733

991157882.UG.FTS.B,

28.98%,

11/29/24

.

96

97

991158118.UG.FTS.B,

28.98%,

11/29/24

..

198

199

991158495.UG.FTS.B,

28.98%,

11/29/24

.

509

507

991158651.UG.FTS.B,

28.98%,

11/29/24

.

365

363

991162272.UG.FTS.B,

28.98%,

11/29/24

.

880

884

991162508.UG.FTS.B,

28.98%,

11/29/24

.

169

168

991163577.UG.FTS.B,

28.98%,

11/29/24

.

854

856

991165881.UG.FTS.B,

28.98%,

11/29/24

.

371

374

991188757.UG.FTS.B,

28.98%,

11/29/24

.

1,103

1,108

991202283.UG.FTS.B,

28.98%,

11/29/24

.

326

328

991203049.UG.FTS.B,

28.98%,

11/29/24

.

954

947

991204556.UG.FTS.B,

28.98%,

11/29/24

.

655

44

991209578.UG.FTS.B,

28.98%,

11/29/24

.

249

251

991234903.UG.FTS.B,

28.98%,

11/29/24

.

–

–

991241558.UG.FTS.B,

28.98%,

11/29/24

.

371

374

991249093.UG.FTS.B,

28.98%,

11/29/24

.

1,437

1,430

991280493.UG.FTS.B,

28.98%,

11/29/24

.

181

182

991352702.UG.FTS.B,

28.98%,

11/29/24

.

98

97

991368667.UG.FTS.B,

28.98%,

11/29/24

.

21

21

991155116.UG.FTS.B,

29.46%,

11/29/24

..

2,516

2,535

991149634.UG.FTS.B,

29.49%,

11/29/24

.

215

216

991149644.UG.FTS.B,

29.49%,

11/29/24

.

15

14

991149659.UG.FTS.B,

29.49%,

11/29/24

.

197

131

991149816.UG.FTS.B,

29.49%,

11/29/24

.

950

64

991149899.UG.FTS.B,

29.49%,

11/29/24

.

70

70

991150696.UG.FTS.B,

29.49%,

11/29/24

.

314

309

991151079.UG.FTS.B,

29.49%,

11/29/24

.

166

166

991151085.UG.FTS.B,

29.49%,

11/29/24

.

626

631

991151273.UG.FTS.B,

29.49%,

11/29/24

.

68

67

991151422.UG.FTS.B,

29.49%,

11/29/24

.

563

363

991151641.UG.FTS.B,

29.49%,

11/29/24

.

230

228

991151825.UG.FTS.B,

29.49%,

11/29/24

.

76

77

991151981.UG.FTS.B,

29.49%,

11/29/24

.

200

202

991152323.UG.FTS.B,

29.49%,

11/29/24

.

11

11

991152468.UG.FTS.B,

29.49%,

11/29/24

.

128

129

991152476.UG.FTS.B,

29.49%,

11/29/24

.

258

259

991152655.UG.FTS.B,

29.49%,

11/29/24

.

110

109

991152657.UG.FTS.B,

29.49%,

11/29/24

.

176

39

991152733.UG.FTS.B,

29.49%,

11/29/24

.

13

13

991153049.UG.FTS.B,

29.49%,

11/29/24

.

1,073

1,080

991153773.UG.FTS.B,

29.49%,

11/29/24

.

17

17

991153994.UG.FTS.B,

29.49%,

11/29/24

.

991

998

991154532.UG.FTS.B,

29.49%,

11/29/24

.

282

279

991154879.UG.FTS.B,

29.49%,

11/29/24

.

1,120

1,117

991155137.UG.FTS.B,

29.49%,

11/29/24

.

134

135

991155298.UG.FTS.B,

29.49%,

11/29/24

.

1,017

1,012

991155576.UG.FTS.B,

29.49%,

11/29/24

.

233

16

991157688.UG.FTS.B,

29.49%,

11/29/24

.

443

447

991157887.UG.FTS.B,

29.49%,

11/29/24

.

136

137

991159374.UG.FTS.B,

29.49%,

11/29/24

.

148

147

991159438.UG.FTS.B,

29.49%,

11/29/24

.

457

459

991159782.UG.FTS.B,

29.49%,

11/29/24

.

312

315

991161450.UG.FTS.B,

29.49%,

11/29/24

.

394

264

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

338

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991164378.UG.FTS.B,

29.49%,

11/29/24

.

$

390

$

393

991170428.UG.FTS.B,

29.49%,

11/29/24

.

414

411

991171550.UG.FTS.B,

29.49%,

11/29/24

.

881

880

991171572.UG.FTS.B,

29.49%,

11/29/24

.

106

107

991178434.UG.FTS.B,

29.49%,

11/29/24

.

95

95

991178591.UG.FTS.B,

29.49%,

11/29/24

.

227

229

991178887.UG.FTS.B,

29.49%,

11/29/24

.

320

322

991180645.UG.FTS.B,

29.49%,

11/29/24

.

763

474

991185990.UG.FTS.B,

29.49%,

11/29/24

.

477

473

991191234.UG.FTS.B,

29.49%,

11/29/24

.

1,466

100

991195692.UG.FTS.B,

29.49%,

11/29/24

.

35

34

991221367.UG.FTS.B,

29.49%,

11/29/24

.

802

804

991241808.UG.FTS.B,

29.49%,

11/29/24

.

490

493

991260050.UG.FTS.B,

29.49%,

11/29/24

.

3,122

210

991274814.UG.FTS.B,

29.49%,

11/29/24

.

31

30

991287021.UG.FTS.B,

29.49%,

11/29/24

.

15

15

991303088.UG.FTS.B,

29.49%,

11/29/24

.

50

49

991310187.UG.FTS.B,

29.49%,

11/29/24

.

1,095

1,081

991311878.UG.FTS.B,

29.49%,

11/29/24

.

25

25

991325572.UG.FTS.B,

29.49%,

11/29/24

.

109

109

991350865.UG.FTS.B,

29.49%,

11/29/24

.

89

89

991352691.UG.FTS.B,

29.49%,

11/29/24

.

131

130

991357531.UG.FTS.B,

29.49%,

11/29/24

.

178

12

991369740.UG.FTS.B,

29.49%,

11/29/24

.

28

28

991372106.UG.FTS.B,

29.49%,

11/29/24

.

110

88

991158000.UG.FTS.B,

Zero

Cpn,

11/30/24

351

–

991158885.UG.FTS.B,

Zero

Cpn,

11/30/24

380

–

991166872.UG.FTS.B,

Zero

Cpn,

11/30/24

599

–

991174357.UG.FTS.B,

Zero

Cpn,

11/30/24

108

–

991176245.UG.FTS.B,

Zero

Cpn,

11/30/24

400

–

991195857.UG.FTS.B,

Zero

Cpn,

11/30/24

58

–

991199308.UG.FTS.B,

Zero

Cpn,

11/30/24

78

–

991217183.UG.FTS.B,

Zero

Cpn,

11/30/24

496

–

991299471.UG.FTS.B,

Zero

Cpn,

11/30/24

784

–

991364444.UG.FTS.B,

18.97%,

11/30/24

.

170

4

991167597.UG.FTS.B,

19.21%,

11/30/24

.

208

206

991218266.UG.FTS.B,

19.21%,

11/30/24

.

407

403

991220359.UG.FTS.B,

19.21%,

11/30/24

.

136

0

991377384.UG.FTS.B,

19.21%,

11/30/24

.

230

233

991160154.UG.FTS.B,

19.8%,

11/30/24

..

257

252

991229289.UG.FTS.B,

19.8%,

11/30/24

..

21

21

991157062.UG.FTS.B,

19.99%,

11/30/24

.

985

993

991157632.UG.FTS.B,

19.99%,

11/30/24

.

1,592

1,605

991158131.UG.FTS.B,

19.99%,

11/30/24

.

840

845

991158195.UG.FTS.B,

19.99%,

11/30/24

.

64

64

991162077.UG.FTS.B,

19.99%,

11/30/24

.

517

521

991170544.UG.FTS.B,

19.99%,

11/30/24

.

107

7

991174157.UG.FTS.B,

19.99%,

11/30/24

.

124

125

991178486.UG.FTS.B,

19.99%,

11/30/24

.

194

196

991198832.UG.FTS.B,

19.99%,

11/30/24

.

196

196

991203768.UG.FTS.B,

19.99%,

11/30/24

.

143

144

991210693.UG.FTS.B,

19.99%,

11/30/24

.

445

447

991220098.UG.FTS.B,

19.99%,

11/30/24

.

514

509

991222899.UG.FTS.B,

19.99%,

11/30/24

.

106

107

991237106.UG.FTS.B,

19.99%,

11/30/24

.

524

521

991238133.UG.FTS.B,

19.99%,

11/30/24

.

443

442

991239767.UG.FTS.B,

19.99%,

11/30/24

.

568

570

991277017.UG.FTS.B,

19.99%,

11/30/24

.

414

417

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991291592.UG.FTS.B,

19.99%,

11/30/24

.

$

7

$

7

991294453.UG.FTS.B,

19.99%,

11/30/24

.

330

332

991302771.UG.FTS.B,

19.99%,

11/30/24

.

393

391

991303347.UG.FTS.B,

19.99%,

11/30/24

.

52

52

991370921.UG.FTS.B,

19.99%,

11/30/24

.

227

226

991374376.UG.FTS.B,

19.99%,

11/30/24

.

17

17

991375080.UG.FTS.B,

19.99%,

11/30/24

.

34

35

991375136.UG.FTS.B,

19.99%,

11/30/24

.

159

164

991155430.UG.FTS.B,

20.46%,

11/30/24

.

11

11

991170633.UG.FTS.B,

20.46%,

11/30/24

.

142

140

991197064.UG.FTS.B,

20.46%,

11/30/24

.

4,005

275

991201898.UG.FTS.B,

20.46%,

11/30/24

.

673

665

991157471.UG.FTS.B,

20.97%,

11/30/24

.

894

882

991266991.UG.FTS.B,

20.97%,

11/30/24

.

1,445

1,415

991273272.UG.FTS.B,

20.97%,

11/30/24

.

1,096

1,081

991163767.UG.FTS.B,

21.46%,

11/30/24

.

230

227

991176579.UG.FTS.B,

21.46%,

11/30/24

.

758

747

991178246.UG.FTS.B,

21.46%,

11/30/24

.

10,096

9,929

991186414.UG.FTS.B,

21.46%,

11/30/24

.

440

30

991198945.UG.FTS.B,

21.46%,

11/30/24

.

111

109

991222901.UG.FTS.B,

21.46%,

11/30/24

.

657

647

991155680.UG.FTS.B,

21.98%,

11/30/24

.

113

111

991212859.UG.FTS.B,

21.98%,

11/30/24

.

1,372

1,342

991227321.UG.FTS.B,

21.98%,

11/30/24

.

95

94

991214909.UG.FTS.B,

22.97%,

11/30/24

.

1,817

1,787

991294116.UG.FTS.B,

22.97%,

11/30/24

.

383

377

991162102.UG.FTS.B,

23.95%,

11/30/24

.

841

828

991279769.UG.FTS.B,

23.95%,

11/30/24

.

413

402

991274402.UG.FTS.B,

24.95%,

11/30/24

.

178

175

991245914.UG.FTS.B,

25.95%,

11/30/24

.

53

52

991166314.UG.FTS.B,

26.94%,

11/30/24

.

720

705

991179425.UG.FTS.B,

26.94%,

11/30/24

.

1,020

990

991157436.UG.FTS.B,

27.99%,

11/30/24

.

448

452

991170707.UG.FTS.B,

27.99%,

11/30/24

.

1,870

257

991184856.UG.FTS.B,

27.99%,

11/30/24

.

255

257

991246597.UG.FTS.B,

27.99%,

11/30/24

.

331

333

991254097.UG.FTS.B,

27.99%,

11/30/24

.

91

92

991282826.UG.FTS.B,

27.99%,

11/30/24

.

50

50

991310873.UG.FTS.B,

27.99%,

11/30/24

.

312

309

991156770.UG.FTS.B,

28.98%,

11/30/24

.

275

277

991157684.UG.FTS.B,

28.98%,

11/30/24

.

1,324

1,334

991158075.UG.FTS.B,

28.98%,

11/30/24

.

510

507

991158904.UG.FTS.B,

28.98%,

11/30/24

.

266

264

991159756.UG.FTS.B,

28.98%,

11/30/24

.

353

355

991159902.UG.FTS.B,

28.98%,

11/30/24

.

317

319

991160155.UG.FTS.B,

28.98%,

11/30/24

.

482

478

991161179.UG.FTS.B,

28.98%,

11/30/24

..

1,480

1,482

991161240.UG.FTS.B,

28.98%,

11/30/24

.

1,292

1,301

991161330.UG.FTS.B,

28.98%,

11/30/24

.

149

150

991162025.UG.FTS.B,

28.98%,

11/30/24

.

860

852

991162173.UG.FTS.B,

28.98%,

11/30/24

.

40

40

991162342.UG.FTS.B,

28.98%,

11/30/24

.

783

788

991162461.UG.FTS.B,

28.98%,

11/30/24

.

20

20

991163899.UG.FTS.B,

28.98%,

11/30/24

.

118

117

991164704.UG.FTS.B,

28.98%,

11/30/24

.

73

72

991164805.UG.FTS.B,

28.98%,

11/30/24

.

–

–

991164810.UG.FTS.B,

28.98%,

11/30/24

.

143

143

991165694.UG.FTS.B,

28.98%,

11/30/24

.

789

795

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

339

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991165829.UG.FTS.B,

28.98%,

11/30/24

.

$

2,938

$

2,900

991166703.UG.FTS.B,

28.98%,

11/30/24

.

398

279

991168731.UG.FTS.B,

28.98%,

11/30/24

.

596

601

991170595.UG.FTS.B,

28.98%,

11/30/24

.

6

6

991170960.UG.FTS.B,

28.98%,

11/30/24

.

1,403

1,398

991174311.UG.FTS.B,

28.98%,

11/30/24

..

292

294

991174605.UG.FTS.B,

28.98%,

11/30/24

.

1,247

1,256

991174788.UG.FTS.B,

28.98%,

11/30/24

.

305

304

991175329.UG.FTS.B,

28.98%,

11/30/24

.

99

100

991178342.UG.FTS.B,

28.98%,

11/30/24

.

413

415

991179639.UG.FTS.B,

28.98%,

11/30/24

.

1

1

991180572.UG.FTS.B,

28.98%,

11/30/24

.

348

350

991181728.UG.FTS.B,

28.98%,

11/30/24

.

387

387

991182068.UG.FTS.B,

28.98%,

11/30/24

.

103

102

991182116.UG.FTS.B,

28.98%,

11/30/24

..

528

532

991182228.UG.FTS.B,

28.98%,

11/30/24

.

162

162

991184808.UG.FTS.B,

28.98%,

11/30/24

.

321

323

991185437.UG.FTS.B,

28.98%,

11/30/24

.

201

202

991186519.UG.FTS.B,

28.98%,

11/30/24

.

236

238

991188630.UG.FTS.B,

28.98%,

11/30/24

.

49

49

991189750.UG.FTS.B,

28.98%,

11/30/24

.

33

33

991190495.UG.FTS.B,

28.98%,

11/30/24

.

749

745

991191079.UG.FTS.B,

28.98%,

11/30/24

.

79

78

991192583.UG.FTS.B,

28.98%,

11/30/24

.

26

26

991193180.UG.FTS.B,

28.98%,

11/30/24

.

79

11

991194174.UG.FTS.B,

28.98%,

11/30/24

.

313

315

991197730.UG.FTS.B,

28.98%,

11/30/24

.

106

107

991198187.UG.FTS.B,

28.98%,

11/30/24

.

13

13

991198309.UG.FTS.B,

28.98%,

11/30/24

.

142

11

991200683.UG.FTS.B,

28.98%,

11/30/24

.

192

192

991202129.UG.FTS.B,

28.98%,

11/30/24

.

290

292

991204352.UG.FTS.B,

28.98%,

11/30/24

.

162

160

991204588.UG.FTS.B,

28.98%,

11/30/24

.

1,801

1,802

991205011.UG.FTS.B,

28.98%,

11/30/24

.

169

167

991209031.UG.FTS.B,

28.98%,

11/30/24

.

44

43

991209315.UG.FTS.B,

28.98%,

11/30/24

.

52

52

991212998.UG.FTS.B,

28.98%,

11/30/24

.

791

796

991215870.UG.FTS.B,

28.98%,

11/30/24

.

79

79

991221769.UG.FTS.B,

28.98%,

11/30/24

.

19

4

991223413.UG.FTS.B,

28.98%,

11/30/24

.

152

153

991223544.UG.FTS.B,

28.98%,

11/30/24

.

119

120

991226444.UG.FTS.B,

28.98%,

11/30/24

.

147

148

991229725.UG.FTS.B,

28.98%,

11/30/24

.

38

38

991232621.UG.FTS.B,

28.98%,

11/30/24

.

845

851

991234297.UG.FTS.B,

28.98%,

11/30/24

.

172

100

991234377.UG.FTS.B,

28.98%,

11/30/24

.

49

49

991240094.UG.FTS.B,

28.98%,

11/30/24

.

2,426

164

991241676.UG.FTS.B,

28.98%,

11/30/24

.

305

304

991247306.UG.FTS.B,

28.98%,

11/30/24

.

2,065

1,333

991251001.UG.FTS.B,

28.98%,

11/30/24

.

949

952

991252688.UG.FTS.B,

28.98%,

11/30/24

.

37

36

991253679.UG.FTS.B,

28.98%,

11/30/24

.

349

348

991253813.UG.FTS.B,

28.98%,

11/30/24

.

94

95

991253989.UG.FTS.B,

28.98%,

11/30/24

.

674

677

991255130.UG.FTS.B,

28.98%,

11/30/24

.

240

156

991257232.UG.FTS.B,

28.98%,

11/30/24

.

344

230

991260489.UG.FTS.B,

28.98%,

11/30/24

.

110

110

991263077.UG.FTS.B,

28.98%,

11/30/24

.

454

457

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991264408.UG.FTS.B,

28.98%,

11/30/24

.

$

56

$

56

991268242.UG.FTS.B,

28.98%,

11/30/24

.

848

854

991274807.UG.FTS.B,

28.98%,

11/30/24

.

48

48

991280234.UG.FTS.B,

28.98%,

11/30/24

.

21

20

991290395.UG.FTS.B,

28.98%,

11/30/24

.

58

58

991298129.UG.FTS.B,

28.98%,

11/30/24

.

269

25

991299968.UG.FTS.B,

28.98%,

11/30/24

.

220

221

991301389.UG.FTS.B,

28.98%,

11/30/24

.

402

399

991305354.UG.FTS.B,

28.98%,

11/30/24

.

33

33

991308020.UG.FTS.B,

28.98%,

11/30/24

.

54

42

991311760.UG.FTS.B,

28.98%,

11/30/24

.

945

935

991312114.UG.FTS.B,

28.98%,

11/30/24

.

516

513

991318702.UG.FTS.B,

28.98%,

11/30/24

.

9

9

991322375.UG.FTS.B,

28.98%,

11/30/24

.

742

729

991323243.UG.FTS.B,

28.98%,

11/30/24

.

844

838

991325045.UG.FTS.B,

28.98%,

11/30/24

.

120

119

991353871.UG.FTS.B,

28.98%,

11/30/24

.

121

124

991354445.UG.FTS.B,

28.98%,

11/30/24

.

418

424

991362615.UG.FTS.B,

28.98%,

11/30/24

.

115

117

991366476.UG.FTS.B,

28.98%,

11/30/24

.

439

450

991368817.UG.FTS.B,

28.98%,

11/30/24

.

608

604

991372018.UG.FTS.B,

28.98%,

11/30/24

.

279

286

991372439.UG.FTS.B,

28.98%,

11/30/24

.

413

417

991372962.UG.FTS.B,

28.98%,

11/30/24

.

16

16

991374823.UG.FTS.B,

28.98%,

11/30/24

.

48

49

991378438.UG.FTS.B,

28.98%,

11/30/24

.

285

289

991283230.UG.FTS.B,

29.48%,

11/30/24

.

230

231

991155380.UG.FTS.B,

29.49%,

11/30/24

.

65

65

991155468.UG.FTS.B,

29.49%,

11/30/24

.

1,091

74

991155673.UG.FTS.B,

29.49%,

11/30/24

.

683

689

991155729.UG.FTS.B,

29.49%,

11/30/24

.

282

281

991155966.UG.FTS.B,

29.49%,

11/30/24

.

700

705

991156018.UG.FTS.B,

29.49%,

11/30/24

.

78

5

991156148.UG.FTS.B,

29.49%,

11/30/24

.

664

669

991156227.UG.FTS.B,

29.49%,

11/30/24

.

224

139

991156228.UG.FTS.B,

29.49%,

11/30/24

.

251

17

991156343.UG.FTS.B,

29.49%,

11/30/24

.

622

611

991156508.UG.FTS.B,

29.49%,

11/30/24

.

125

124

991156625.UG.FTS.B,

29.49%,

11/30/24

.

525

530

991156672.UG.FTS.B,

29.49%,

11/30/24

.

353

357

991157182.UG.FTS.B,

29.49%,

11/30/24

.

34

34

991157399.UG.FTS.B,

29.49%,

11/30/24

.

97

66

991157870.UG.FTS.B,

29.49%,

11/30/24

.

111

16

991158006.UG.FTS.B,

29.49%,

11/30/24

.

88

87

991158265.UG.FTS.B,

29.49%,

11/30/24

.

163

162

991158386.UG.FTS.B,

29.49%,

11/30/24

.

1,280

1,276

991158407.UG.FTS.B,

29.49%,

11/30/24

.

154

155

991158421.UG.FTS.B,

29.49%,

11/30/24

.

743

744

991158472.UG.FTS.B,

29.49%,

11/30/24

.

558

44

991158842.UG.FTS.B,

29.49%,

11/30/24

.

327

328

991158862.UG.FTS.B,

29.49%,

11/30/24

.

324

327

991158874.UG.FTS.B,

29.49%,

11/30/24

.

636

639

991159301.UG.FTS.B,

29.49%,

11/30/24

.

109

110

991159823.UG.FTS.B,

29.49%,

11/30/24

.

286

187

991160218.UG.FTS.B,

29.49%,

11/30/24

.

503

507

991160324.UG.FTS.B,

29.49%,

11/30/24

.

931

937

991161270.UG.FTS.B,

29.49%,

11/30/24

.

842

849

991161652.UG.FTS.B,

29.49%,

11/30/24

.

1,167

165

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

340

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991162121.UG.FTS.B,

29.49%,

11/30/24

.

$

326

$

326

991162222.UG.FTS.B,

29.49%,

11/30/24

.

45

44

991162412.UG.FTS.B,

29.49%,

11/30/24

.

67

67

991163964.UG.FTS.B,

29.49%,

11/30/24

.

418

420

991164196.UG.FTS.B,

29.49%,

11/30/24

.

547

375

991164670.UG.FTS.B,

29.49%,

11/30/24

.

602

607

991165371.UG.FTS.B,

29.49%,

11/30/24

.

70

70

991165500.UG.FTS.B,

29.49%,

11/30/24

.

228

15

991165772.UG.FTS.B,

29.49%,

11/30/24

.

139

19

991166597.UG.FTS.B,

29.49%,

11/30/24

.

40

40

991167245.UG.FTS.B,

29.49%,

11/30/24

.

430

429

991168245.UG.FTS.B,

29.49%,

11/30/24

.

296

299

991169195.UG.FTS.B,

29.49%,

11/30/24

.

1,020

1,029

991170244.UG.FTS.B,

29.49%,

11/30/24

.

302

303

991170572.UG.FTS.B,

29.49%,

11/30/24

.

238

237

991171895.UG.FTS.B,

29.49%,

11/30/24

.

46

46

991172465.UG.FTS.B,

29.49%,

11/30/24

.

910

917

991172522.UG.FTS.B,

29.49%,

11/30/24

.

126

126

991172785.UG.FTS.B,

29.49%,

11/30/24

.

736

729

991173687.UG.FTS.B,

29.49%,

11/30/24

.

74

74

991174513.UG.FTS.B,

29.49%,

11/30/24

.

75

74

991176563.UG.FTS.B,

29.49%,

11/30/24

.

508

511

991178582.UG.FTS.B,

29.49%,

11/30/24

.

22

22

991181054.UG.FTS.B,

29.49%,

11/30/24

.

39

39

991182361.UG.FTS.B,

29.49%,

11/30/24

.

163

165

991182724.UG.FTS.B,

29.49%,

11/30/24

.

–

–

991183630.UG.FTS.B,

29.49%,

11/30/24

.

943

940

991183810.UG.FTS.B,

29.49%,

11/30/24

.

79

80

991184149.UG.FTS.B,

29.49%,

11/30/24

.

871

874

991185246.UG.FTS.B,

29.49%,

11/30/24

.

459

463

991186053.UG.FTS.B,

29.49%,

11/30/24

.

105

106

991189744.UG.FTS.B,

29.49%,

11/30/24

.

246

34

991190401.UG.FTS.B,

29.49%,

11/30/24

.

855

863

991190990.UG.FTS.B,

29.49%,

11/30/24

.

252

254

991191513.UG.FTS.B,

29.49%,

11/30/24

.

0

0

991191690.UG.FTS.B,

29.49%,

11/30/24

.

583

385

991192752.UG.FTS.B,

29.49%,

11/30/24

.

247

248

991192788.UG.FTS.B,

29.49%,

11/30/24

.

66

66

991193473.UG.FTS.B,

29.49%,

11/30/24

.

209

211

991194009.UG.FTS.B,

29.49%,

11/30/24

.

134

133

991195243.UG.FTS.B,

29.49%,

11/30/24

.

4,302

4,340

991195456.UG.FTS.B,

29.49%,

11/30/24

.

89

90

991195820.UG.FTS.B,

29.49%,

11/30/24

.

19

19

991196358.UG.FTS.B,

29.49%,

11/30/24

.

143

10

991197536.UG.FTS.B,

29.49%,

11/30/24

.

456

31

991198311.UG.FTS.B,

29.49%,

11/30/24

..

239

241

991198791.UG.FTS.B,

29.49%,

11/30/24

.

846

854

991199597.UG.FTS.B,

29.49%,

11/30/24

.

30

26

991199650.UG.FTS.B,

29.49%,

11/30/24

.

146

10

991200627.UG.FTS.B,

29.49%,

11/30/24

.

356

360

991200667.UG.FTS.B,

29.49%,

11/30/24

.

641

641

991201454.UG.FTS.B,

29.49%,

11/30/24

.

231

233

991201470.UG.FTS.B,

29.49%,

11/30/24

.

–

–

991201949.UG.FTS.B,

29.49%,

11/30/24

.

13

12

991202894.UG.FTS.B,

29.49%,

11/30/24

.

23

23

991205442.UG.FTS.B,

29.49%,

11/30/24

.

1,431

1,421

991206111.UG.FTS.B,

29.49%,

11/30/24

..

176

178

991208491.UG.FTS.B,

29.49%,

11/30/24

.

471

470

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991208980.UG.FTS.B,

29.49%,

11/30/24

.

$

719

$

713

991209146.UG.FTS.B,

29.49%,

11/30/24

.

100

100

991209726.UG.FTS.B,

29.49%,

11/30/24

.

399

396

991211217.UG.FTS.B,

29.49%,

11/30/24

.

–

–

991215049.UG.FTS.B,

29.49%,

11/30/24

.

293

291

991218514.UG.FTS.B,

29.49%,

11/30/24

.

79

79

991218861.UG.FTS.B,

29.49%,

11/30/24

.

100

100

991219200.UG.FTS.B,

29.49%,

11/30/24

.

132

133

991220330.UG.FTS.B,

29.49%,

11/30/24

.

335

330

991220375.UG.FTS.B,

29.49%,

11/30/24

.

74

55

991220923.UG.FTS.B,

29.49%,

11/30/24

.

25

24

991221281.UG.FTS.B,

29.49%,

11/30/24

.

441

443

991221798.UG.FTS.B,

29.49%,

11/30/24

.

314

21

991221895.UG.FTS.B,

29.49%,

11/30/24

.

493

(15)

991222303.UG.FTS.B,

29.49%,

11/30/24

.

76

5

991222357.UG.FTS.B,

29.49%,

11/30/24

.

1

1

991231403.UG.FTS.B,

29.49%,

11/30/24

.

192

190

991233310.UG.FTS.B,

29.49%,

11/30/24

.

46

38

991234356.UG.FTS.B,

29.49%,

11/30/24

.

184

186

991234501.UG.FTS.B,

29.49%,

11/30/24

.

564

560

991235252.UG.FTS.B,

29.49%,

11/30/24

.

168

11

991235449.UG.FTS.B,

29.49%,

11/30/24

.

526

525

991236467.UG.FTS.B,

29.49%,

11/30/24

.

1,314

89

991237242.UG.FTS.B,

29.49%,

11/30/24

.

149

149

991242367.UG.FTS.B,

29.49%,

11/30/24

.

120

121

991244000.UG.FTS.B,

29.49%,

11/30/24

.

–

–

991245041.UG.FTS.B,

29.49%,

11/30/24

.

978

986

991245580.UG.FTS.B,

29.49%,

11/30/24

.

80

81

991246778.UG.FTS.B,

29.49%,

11/30/24

.

834

833

991249635.UG.FTS.B,

29.49%,

11/30/24

.

259

260

991250363.UG.FTS.B,

29.49%,

11/30/24

.

59

47

991250751.UG.FTS.B,

29.49%,

11/30/24

.

378

380

991250928.UG.FTS.B,

29.49%,

11/30/24

.

11

11

991251255.UG.FTS.B,

29.49%,

11/30/24

.

114

114

991251496.UG.FTS.B,

29.49%,

11/30/24

.

65

64

991252166.UG.FTS.B,

29.49%,

11/30/24

.

917

910

991256555.UG.FTS.B,

29.49%,

11/30/24

.

161

163

991258407.UG.FTS.B,

29.49%,

11/30/24

.

241

239

991259975.UG.FTS.B,

29.49%,

11/30/24

.

61

4

991260510.UG.FTS.B,

29.49%,

11/30/24

.

720

715

991262641.UG.FTS.B,

29.49%,

11/30/24

.

548

544

991267189.UG.FTS.B,

29.49%,

11/30/24

.

324

327

991269253.UG.FTS.B,

29.49%,

11/30/24

.

611

41

991273969.UG.FTS.B,

29.49%,

11/30/24

.

561

564

991276545.UG.FTS.B,

29.49%,

11/30/24

.

2,413

2,430

991277711.UG.FTS.B,

29.49%,

11/30/24

.

302

301

991278091.UG.FTS.B,

29.49%,

11/30/24

.

281

282

991278481.UG.FTS.B,

29.49%,

11/30/24

.

21

19

991281607.UG.FTS.B,

29.49%,

11/30/24

.

350

353

991282117.UG.FTS.B,

29.49%,

11/30/24

.

–

–

991282168.UG.FTS.B,

29.49%,

11/30/24

.

139

138

991282393.UG.FTS.B,

29.49%,

11/30/24

.

117

116

991282718.UG.FTS.B,

29.49%,

11/30/24

.

107

108

991287641.UG.FTS.B,

29.49%,

11/30/24

.

2,000

2,007

991289420.UG.FTS.B,

29.49%,

11/30/24

.

229

230

991289704.UG.FTS.B,

29.49%,

11/30/24

.

38

38

991292895.UG.FTS.B,

29.49%,

11/30/24

.

16

15

991295156.UG.FTS.B,

29.49%,

11/30/24

.

277

278

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

341

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991295815.UG.FTS.B,

29.49%,

11/30/24

.

$

233

$

235

991295869.UG.FTS.B,

29.49%,

11/30/24

.

2,099

2,084

991297877.UG.FTS.B,

29.49%,

11/30/24

.

351

344

991302156.UG.FTS.B,

29.49%,

11/30/24

.

324

327

991302889.UG.FTS.B,

29.49%,

11/30/24

.

29

28

991305134.UG.FTS.B,

29.49%,

11/30/24

.

46

46

991311530.UG.FTS.B,

29.49%,

11/30/24

.

73

73

991311647.UG.FTS.B,

29.49%,

11/30/24

.

57

56

991317121.UG.FTS.B,

29.49%,

11/30/24

.

189

13

991319229.UG.FTS.B,

29.49%,

11/30/24

.

1,472

1,453

991321305.UG.FTS.B,

29.49%,

11/30/24

.

344

339

991323760.UG.FTS.B,

29.49%,

11/30/24

.

9

1

991323937.UG.FTS.B,

29.49%,

11/30/24

.

92

0

991326057.UG.FTS.B,

29.49%,

11/30/24

.

120

118

991354554.UG.FTS.B,

29.49%,

11/30/24

.

142

141

991360797.UG.FTS.B,

29.49%,

11/30/24

.

298

302

991366922.UG.FTS.B,

29.49%,

11/30/24

.

96

95

991368424.UG.FTS.B,

29.49%,

11/30/24

.

249

246

991369399.UG.FTS.B,

29.49%,

11/30/24

.

129

129

991371478.UG.FTS.B,

29.49%,

11/30/24

.

90

13

991376913.UG.FTS.B,

29.49%,

11/30/24

.

67

67

991378428.UG.FTS.B,

29.49%,

11/30/24

.

7

7

991174002.UG.FTS.B,

Zero

Cpn,

12/01/24

105

7

991196925.UG.FTS.B,

Zero

Cpn,

12/01/24

223

–

991201769.UG.FTS.B,

Zero

Cpn,

12/01/24

34

–

991216832.UG.FTS.B,

Zero

Cpn,

12/01/24

60

–

991218565.UG.FTS.B,

Zero

Cpn,

12/01/24

75

–

991220561.UG.FTS.B,

Zero

Cpn,

12/01/24

67

–

991244517.UG.FTS.B,

Zero

Cpn,

12/01/24

850

–

991245959.UG.FTS.B,

Zero

Cpn,

12/01/24

50

–

991277873.UG.FTS.B,

Zero

Cpn,

12/01/24

175

–

991278603.UG.FTS.B,

Zero

Cpn,

12/01/24

66

–

991322379.UG.FTS.B,

Zero

Cpn,

12/01/24

491

–

991356728.UG.FTS.B,

Zero

Cpn,

12/01/24

170

–

991169328.UG.FTS.B,

19.21%,

12/01/24

.

1,713

1,695

991247450.UG.FTS.B,

19.21%,

12/01/24

.

851

843

991169863.UG.FTS.B,

19.8%,

12/01/24

..

1,115

1,103

991177017.UG.FTS.B,

19.8%,

12/01/24

..

872

60

991321761.UG.FTS.B,

19.8%,

12/01/24

..

9

8

991178593.UG.FTS.B,

19.97%,

12/01/24

.

109

108

991160766.UG.FTS.B,

19.99%,

12/01/24

.

1,056

1,045

991162349.UG.FTS.B,

19.99%,

12/01/24

.

977

216

991167210.UG.FTS.B,

19.99%,

12/01/24

.

3,331

3,360

991169660.UG.FTS.B,

19.99%,

12/01/24

.

493

498

991169981.UG.FTS.B,

19.99%,

12/01/24

.

3,309

3,336

991171084.UG.FTS.B,

19.99%,

12/01/24

.

56

55

991171557.UG.FTS.B,

19.99%,

12/01/24

.

143

93

991178992.UG.FTS.B,

19.99%,

12/01/24

.

2,168

2,189

991190064.UG.FTS.B,

19.99%,

12/01/24

.

890

899

991194398.UG.FTS.B,

19.99%,

12/01/24

.

1,341

1,354

991195640.UG.FTS.B,

19.99%,

12/01/24

.

55

55

991207998.UG.FTS.B,

19.99%,

12/01/24

.

837

841

991233773.UG.FTS.B,

19.99%,

12/01/24

.

384

386

991235853.UG.FTS.B,

19.99%,

12/01/24

.

118

116

991238942.UG.FTS.B,

19.99%,

12/01/24

.

289

58

991239748.UG.FTS.B,

19.99%,

12/01/24

.

2,510

2,531

991248019.UG.FTS.B,

19.99%,

12/01/24

.

1,195

1,207

991262568.UG.FTS.B,

19.99%,

12/01/24

.

117

117

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991324541.UG.FTS.B,

19.99%,

12/01/24

.

$

272

$

271

991334704.UG.FTS.B,

19.99%,

12/01/24

.

95

95

991354074.UG.FTS.B,

19.99%,

12/01/24

.

793

784

991359215.UG.FTS.B,

19.99%,

12/01/24

.

148

147

991160810.UG.FTS.B,

20.46%,

12/01/24

.

88

87

991162711.UG.FTS.B,

20.46%,

12/01/24

.

–

–

991180887.UG.FTS.B,

20.46%,

12/01/24

.

26

26

991231427.UG.FTS.B,

20.46%,

12/01/24

.

496

490

991247272.UG.FTS.B,

20.46%,

12/01/24

.

44

44

991287459.UG.FTS.B,

20.46%,

12/01/24

.

1,037

1,019

991346971.UG.FTS.B,

20.46%,

12/01/24

.

288

283

991163636.UG.FTS.B,

20.97%,

12/01/24

.

2,261

2,233

991212602.UG.FTS.B,

20.97%,

12/01/24

.

20

20

991225649.UG.FTS.B,

20.97%,

12/01/24

.

8,094

7,994

991383601.UG.FTS.B,

20.97%,

12/01/24

.

254

257

991163809.UG.FTS.B,

21.46%,

12/01/24

.

8,800

8,680

991167443.UG.FTS.B,

21.46%,

12/01/24

.

3,528

3,470

991167927.UG.FTS.B,

21.46%,

12/01/24

.

431

425

991179044.UG.FTS.B,

21.46%,

12/01/24

.

821

809

991181416.UG.FTS.B,

21.46%,

12/01/24

.

53

4

991295332.UG.FTS.B,

21.46%,

12/01/24

.

25

24

991162968.UG.FTS.B,

21.98%,

12/01/24

.

284

280

991188265.UG.FTS.B,

21.98%,

12/01/24

.

36

2

991195050.UG.FTS.B,

21.98%,

12/01/24

.

29

2

991198256.UG.FTS.B,

21.98%,

12/01/24

.

18

18

991211732.UG.FTS.B,

21.98%,

12/01/24

.

114

112

991167409.UG.FTS.B,

22.95%,

12/01/24

.

433

426

991162362.UG.FTS.B,

22.97%,

12/01/24

.

717

707

991173666.UG.FTS.B,

22.97%,

12/01/24

.

1,658

1,633

991182729.UG.FTS.B,

22.97%,

12/01/24

.

129

127

991194813.UG.FTS.B,

22.97%,

12/01/24

.

4

4

991220756.UG.FTS.B,

22.97%,

12/01/24

.

237

233

991165518.UG.FTS.B,

23.95%,

12/01/24

.

358

353

991164092.UG.FTS.B,

25.95%,

12/01/24

.

446

438

991160646.UG.FTS.B,

27.99%,

12/01/24

.

82

82

991162766.UG.FTS.B,

27.99%,

12/01/24

.

686

57

991164749.UG.FTS.B,

27.99%,

12/01/24

.

423

427

991178777.UG.FTS.B,

27.99%,

12/01/24

.

124

125

991186705.UG.FTS.B,

27.99%,

12/01/24

.

192

191

991306659.UG.FTS.B,

27.99%,

12/01/24

.

52

41

991160886.UG.FTS.B,

28.98%,

12/01/24

.

32

32

991160981.UG.FTS.B,

28.98%,

12/01/24

.

890

885

991161283.UG.FTS.B,

28.98%,

12/01/24

.

334

216

991161423.UG.FTS.B,

28.98%,

12/01/24

.

895

571

991161755.UG.FTS.B,

28.98%,

12/01/24

.

583

587

991162271.UG.FTS.B,

28.98%,

12/01/24

.

247

249

991162320.UG.FTS.B,

28.98%,

12/01/24

.

211

213

991162330.UG.FTS.B,

28.98%,

12/01/24

.

875

870

991162450.UG.FTS.B,

28.98%,

12/01/24

.

374

367

991163027.UG.FTS.B,

28.98%,

12/01/24

.

451

454

991163558.UG.FTS.B,

28.98%,

12/01/24

.

271

269

991163638.UG.FTS.B,

28.98%,

12/01/24

.

37

36

991164071.UG.FTS.B,

28.98%,

12/01/24

.

145

146

991164080.UG.FTS.B,

28.98%,

12/01/24

.

182

12

991164249.UG.FTS.B,

28.98%,

12/01/24

.

70

70

991164332.UG.FTS.B,

28.98%,

12/01/24

.

112

111

991164762.UG.FTS.B,

28.98%,

12/01/24

.

312

310

991165573.UG.FTS.B,

28.98%,

12/01/24

.

294

292

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

342

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991165874.UG.FTS.B,

28.98%,

12/01/24

.

$

162

$

163

991165954.UG.FTS.B,

28.98%,

12/01/24

.

287

289

991166604.UG.FTS.B,

28.98%,

12/01/24

.

17

17

991166802.UG.FTS.B,

28.98%,

12/01/24

.

165

(5)

991170068.UG.FTS.B,

28.98%,

12/01/24

.

2,003

440

991170216.UG.FTS.B,

28.98%,

12/01/24

.

89

90

991173050.UG.FTS.B,

28.98%,

12/01/24

.

7

7

991174550.UG.FTS.B,

28.98%,

12/01/24

.

205

207

991174881.UG.FTS.B,

28.98%,

12/01/24

.

50

50

991176007.UG.FTS.B,

28.98%,

12/01/24

.

298

298

991176947.UG.FTS.B,

28.98%,

12/01/24

.

281

284

991177599.UG.FTS.B,

28.98%,

12/01/24

.

157

158

991179835.UG.FTS.B,

28.98%,

12/01/24

.

928

927

991180336.UG.FTS.B,

28.98%,

12/01/24

.

1,307

1,319

991181086.UG.FTS.B,

28.98%,

12/01/24

.

135

136

991182500.UG.FTS.B,

28.98%,

12/01/24

.

1,435

1,425

991182789.UG.FTS.B,

28.98%,

12/01/24

.

842

828

991183951.UG.FTS.B,

28.98%,

12/01/24

.

656

662

991185047.UG.FTS.B,

28.98%,

12/01/24

.

51

50

991188463.UG.FTS.B,

28.98%,

12/01/24

.

109

110

991188495.UG.FTS.B,

28.98%,

12/01/24

.

114

(3)

991188929.UG.FTS.B,

28.98%,

12/01/24

.

683

686

991189130.UG.FTS.B,

28.98%,

12/01/24

.

–

–

991189706.UG.FTS.B,

28.98%,

12/01/24

.

331

334

991190247.UG.FTS.B,

28.98%,

12/01/24

.

981

989

991190745.UG.FTS.B,

28.98%,

12/01/24

.

118

116

991195755.UG.FTS.B,

28.98%,

12/01/24

.

47

3

991196333.UG.FTS.B,

28.98%,

12/01/24

.

241

243

991198992.UG.FTS.B,

28.98%,

12/01/24

.

171

(4)

991200338.UG.FTS.B,

28.98%,

12/01/24

.

315

318

991201982.UG.FTS.B,

28.98%,

12/01/24

.

313

311

991202328.UG.FTS.B,

28.98%,

12/01/24

.

178

179

991202722.UG.FTS.B,

28.98%,

12/01/24

.

1,067

1,056

991203281.UG.FTS.B,

28.98%,

12/01/24

.

526

531

991205166.UG.FTS.B,

28.98%,

12/01/24

.

44

36

991205776.UG.FTS.B,

28.98%,

12/01/24

.

324

326

991208622.UG.FTS.B,

28.98%,

12/01/24

.

50

50

991210628.UG.FTS.B,

28.98%,

12/01/24

.

259

257

991210769.UG.FTS.B,

28.98%,

12/01/24

.

288

290

991213420.UG.FTS.B,

28.98%,

12/01/24

.

762

757

991217237.UG.FTS.B,

28.98%,

12/01/24

.

130

131

991218984.UG.FTS.B,

28.98%,

12/01/24

.

215

14

991219825.UG.FTS.B,

28.98%,

12/01/24

.

86

87

991226847.UG.FTS.B,

28.98%,

12/01/24

.

917

924

991228476.UG.FTS.B,

28.98%,

12/01/24

.

1,443

1,455

991228529.UG.FTS.B,

28.98%,

12/01/24

.

281

62

991229899.UG.FTS.B,

28.98%,

12/01/24

.

137

138

991230359.UG.FTS.B,

28.98%,

12/01/24

.

92

89

991230587.UG.FTS.B,

28.98%,

12/01/24

.

287

289

991231326.UG.FTS.B,

28.98%,

12/01/24

.

3

3

991231739.UG.FTS.B,

28.98%,

12/01/24

.

166

167

991236126.UG.FTS.B,

28.98%,

12/01/24

.

105

104

991236470.UG.FTS.B,

28.98%,

12/01/24

.

82

82

991241439.UG.FTS.B,

28.98%,

12/01/24

.

1

1

991242460.UG.FTS.B,

28.98%,

12/01/24

.

25

25

991244164.UG.FTS.B,

28.98%,

12/01/24

.

195

197

991250144.UG.FTS.B,

28.98%,

12/01/24

.

219

221

991250633.UG.FTS.B,

28.98%,

12/01/24

.

174

175

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991251429.UG.FTS.B,

28.98%,

12/01/24

.

$

335

$

337

991267046.UG.FTS.B,

28.98%,

12/01/24

.

284

283

991267527.UG.FTS.B,

28.98%,

12/01/24

.

902

896

991273718.UG.FTS.B,

28.98%,

12/01/24

.

119

120

991275010.UG.FTS.B,

28.98%,

12/01/24

.

431

434

991275061.UG.FTS.B,

28.98%,

12/01/24

.

112

113

991278856.UG.FTS.B,

28.98%,

12/01/24

.

565

570

991283578.UG.FTS.B,

28.98%,

12/01/24

.

117

121

991285727.UG.FTS.B,

28.98%,

12/01/24

.

565

555

991293953.UG.FTS.B,

28.98%,

12/01/24

.

4

0

991298047.UG.FTS.B,

28.98%,

12/01/24

.

432

436

991305273.UG.FTS.B,

28.98%,

12/01/24

.

313

316

991319168.UG.FTS.B,

28.98%,

12/01/24

.

170

171

991321338.UG.FTS.B,

28.98%,

12/01/24

.

127

9

991322131.UG.FTS.B,

28.98%,

12/01/24

.

142

141

991322463.UG.FTS.B,

28.98%,

12/01/24

.

1,821

1,807

991323706.UG.FTS.B,

28.98%,

12/01/24

.

519

516

991325531.UG.FTS.B,

28.98%,

12/01/24

.

1,112

1,106

991328743.UG.FTS.B,

28.98%,

12/01/24

.

1,288

1,281

991332964.UG.FTS.B,

28.98%,

12/01/24

.

562

559

991338177.UG.FTS.B,

28.98%,

12/01/24

.

504

501

991339149.UG.FTS.B,

28.98%,

12/01/24

.

68

67

991340165.UG.FTS.B,

28.98%,

12/01/24

.

490

33

991343569.UG.FTS.B,

28.98%,

12/01/24

.

80

80

991346128.UG.FTS.B,

28.98%,

12/01/24

.

168

166

991352854.UG.FTS.B,

28.98%,

12/01/24

.

92

92

991354877.UG.FTS.B,

28.98%,

12/01/24

.

–

–

991358666.UG.FTS.B,

28.98%,

12/01/24

.

863

840

991358911.UG.FTS.B,

28.98%,

12/01/24

.

700

696

991365314.UG.FTS.B,

28.98%,

12/01/24

.

2,581

2,565

991366359.UG.FTS.B,

28.98%,

12/01/24

.

104

103

991367704.UG.FTS.B,

28.98%,

12/01/24

.

582

583

991368632.UG.FTS.B,

28.98%,

12/01/24

.

144

141

991369529.UG.FTS.B,

28.98%,

12/01/24

.

38

37

991372098.UG.FTS.B,

28.98%,

12/01/24

.

91

92

991378052.UG.FTS.B,

28.98%,

12/01/24

.

141

144

991161940.UG.FTS.B,

29.46%,

12/01/24

.

779

786

991169394.UG.FTS.B,

29.46%,

12/01/24

.

4,685

(140)

991281571.UG.FTS.B,

29.48%,

12/01/24

.

122

120

991160622.UG.FTS.B,

29.49%,

12/01/24

.

27

27

991160695.UG.FTS.B,

29.49%,

12/01/24

.

19

17

991161053.UG.FTS.B,

29.49%,

12/01/24

.

25

25

991161239.UG.FTS.B,

29.49%,

12/01/24

.

180

181

991161391.UG.FTS.B,

29.49%,

12/01/24

.

42

42

991161962.UG.FTS.B,

29.49%,

12/01/24

.

67

51

991162217.UG.FTS.B,

29.49%,

12/01/24

.

352

349

991162954.UG.FTS.B,

29.49%,

12/01/24

.

25

25

991163156.UG.FTS.B,

29.49%,

12/01/24

.

244

21

991163350.UG.FTS.B,

29.49%,

12/01/24

.

404

409

991163554.UG.FTS.B,

29.49%,

12/01/24

.

278

277

991164451.UG.FTS.B,

29.49%,

12/01/24

.

24

23

991165159.UG.FTS.B,

29.49%,

12/01/24

.

29

29

991165221.UG.FTS.B,

29.49%,

12/01/24

.

34

33

991165357.UG.FTS.B,

29.49%,

12/01/24

.

60

60

991165411.UG.FTS.B,

29.49%,

12/01/24

.

360

364

991165471.UG.FTS.B,

29.49%,

12/01/24

.

70

70

991165511.UG.FTS.B,

29.49%,

12/01/24

.

3

3

991166278.UG.FTS.B,

29.49%,

12/01/24

.

109

107

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

343

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991166536.UG.FTS.B,

29.49%,

12/01/24

.

$

53

$

15

991166742.UG.FTS.B,

29.49%,

12/01/24

.

342

342

991167064.UG.FTS.B,

29.49%,

12/01/24

.

881

893

991167631.UG.FTS.B,

29.49%,

12/01/24

.

–

–

991167821.UG.FTS.B,

29.49%,

12/01/24

.

474

309

991168466.UG.FTS.B,

29.49%,

12/01/24

.

800

803

991169143.UG.FTS.B,

29.49%,

12/01/24

.

55

54

991169716.UG.FTS.B,

29.49%,

12/01/24

.

132

134

991170297.UG.FTS.B,

29.49%,

12/01/24

.

6

6

991170357.UG.FTS.B,

29.49%,

12/01/24

.

4

4

991170657.UG.FTS.B,

29.49%,

12/01/24

.

40

40

991170757.UG.FTS.B,

29.49%,

12/01/24

.

83

(2)

991170942.UG.FTS.B,

29.49%,

12/01/24

.

501

492

991171218.UG.FTS.B,

29.49%,

12/01/24

.

1,576

1,590

991171251.UG.FTS.B,

29.49%,

12/01/24

.

143

145

991171281.UG.FTS.B,

29.49%,

12/01/24

.

82

82

991172207.UG.FTS.B,

29.49%,

12/01/24

.

31

31

991172237.UG.FTS.B,

29.49%,

12/01/24

.

90

91

991172597.UG.FTS.B,

29.49%,

12/01/24

.

2,281

2,248

991173027.UG.FTS.B,

29.49%,

12/01/24

.

49

49

991173870.UG.FTS.B,

29.49%,

12/01/24

.

115

114

991173899.UG.FTS.B,

29.49%,

12/01/24

.

92

7

991174137.UG.FTS.B,

29.49%,

12/01/24

.

399

394

991174516.UG.FTS.B,

29.49%,

12/01/24

.

576

582

991174973.UG.FTS.B,

29.49%,

12/01/24

.

353

356

991177081.UG.FTS.B,

29.49%,

12/01/24

.

880

865

991177654.UG.FTS.B,

29.49%,

12/01/24

.

224

222

991177853.UG.FTS.B,

29.49%,

12/01/24

.

1,025

1,034

991178641.UG.FTS.B,

29.49%,

12/01/24

.

98

98

991178859.UG.FTS.B,

29.49%,

12/01/24

.

111

112

991179950.UG.FTS.B,

29.49%,

12/01/24

.

491

487

991180599.UG.FTS.B,

29.49%,

12/01/24

.

568

391

991180715.UG.FTS.B,

29.49%,

12/01/24

.

2

2

991180960.UG.FTS.B,

29.49%,

12/01/24

.

366

366

991181158.UG.FTS.B,

29.49%,

12/01/24

.

63

62

991181219.UG.FTS.B,

29.49%,

12/01/24

.

51

51

991181242.UG.FTS.B,

29.49%,

12/01/24

.

417

267

991181371.UG.FTS.B,

29.49%,

12/01/24

.

30

2

991184518.UG.FTS.B,

29.49%,

12/01/24

.

2,460

2,488

991186231.UG.FTS.B,

29.49%,

12/01/24

.

192

195

991186361.UG.FTS.B,

29.49%,

12/01/24

.

177

12

991186676.UG.FTS.B,

29.49%,

12/01/24

.

674

452

991186895.UG.FTS.B,

29.49%,

12/01/24

.

31

31

991187762.UG.FTS.B,

29.49%,

12/01/24

.

114

114

991188136.UG.FTS.B,

29.49%,

12/01/24

.

349

342

991189820.UG.FTS.B,

29.49%,

12/01/24

.

45

3

991190236.UG.FTS.B,

29.49%,

12/01/24

.

119

120

991192314.UG.FTS.B,

29.49%,

12/01/24

.

1,261

1,274

991192621.UG.FTS.B,

29.49%,

12/01/24

.

331

327

991192840.UG.FTS.B,

29.49%,

12/01/24

.

202

132

991194652.UG.FTS.B,

29.49%,

12/01/24

.

54

53

991194975.UG.FTS.B,

29.49%,

12/01/24

.

140

140

991195613.UG.FTS.B,

29.49%,

12/01/24

.

–

–

991195713.UG.FTS.B,

29.49%,

12/01/24

.

116

118

991195836.UG.FTS.B,

29.49%,

12/01/24

.

203

203

991196169.UG.FTS.B,

29.49%,

12/01/24

.

206

47

991200855.UG.FTS.B,

29.49%,

12/01/24

.

28

27

991201968.UG.FTS.B,

29.49%,

12/01/24

.

391

26

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991204551.UG.FTS.B,

29.49%,

12/01/24

.

$

512

$

507

991208326.UG.FTS.B,

29.49%,

12/01/24

.

17

1

991208827.UG.FTS.B,

29.49%,

12/01/24

.

123

125

991211949.UG.FTS.B,

29.49%,

12/01/24

.

39

38

991212552.UG.FTS.B,

29.49%,

12/01/24

.

145

10

991218540.UG.FTS.B,

29.49%,

12/01/24

.

1,582

1,600

991219679.UG.FTS.B,

29.49%,

12/01/24

.

244

247

991220031.UG.FTS.B,

29.49%,

12/01/24

.

1,253

1,264

991220499.UG.FTS.B,

29.49%,

12/01/24

.

112

8

991228302.UG.FTS.B,

29.49%,

12/01/24

.

281

283

991229412.UG.FTS.B,

29.49%,

12/01/24

.

229

229

991230298.UG.FTS.B,

29.49%,

12/01/24

.

18

18

991232611.UG.FTS.B,

29.49%,

12/01/24

.

78

78

991233016.UG.FTS.B,

29.49%,

12/01/24

.

296

298

991235705.UG.FTS.B,

29.49%,

12/01/24

.

22

22

991237724.UG.FTS.B,

29.49%,

12/01/24

.

314

316

991241447.UG.FTS.B,

29.49%,

12/01/24

.

259

261

991243035.UG.FTS.B,

29.49%,

12/01/24

.

–

–

991243097.UG.FTS.B,

29.49%,

12/01/24

.

190

192

991243560.UG.FTS.B,

29.49%,

12/01/24

.

105

104

991246447.UG.FTS.B,

29.49%,

12/01/24

.

544

123

991247481.UG.FTS.B,

29.49%,

12/01/24

.

717

724

991251845.UG.FTS.B,

29.49%,

12/01/24

.

61

61

991252187.UG.FTS.B,

29.49%,

12/01/24

.

48

48

991252529.UG.FTS.B,

29.49%,

12/01/24

.

1,014

1,023

991252877.UG.FTS.B,

29.49%,

12/01/24

.

81

82

991253430.UG.FTS.B,

29.49%,

12/01/24

.

202

200

991256494.UG.FTS.B,

29.49%,

12/01/24

.

1,239

1,228

991256813.UG.FTS.B,

29.49%,

12/01/24

.

185

42

991258121.UG.FTS.B,

29.49%,

12/01/24

.

1,805

1,821

991262312.UG.FTS.B,

29.49%,

12/01/24

.

148

146

991266823.UG.FTS.B,

29.49%,

12/01/24

.

1,705

116

991267008.UG.FTS.B,

29.49%,

12/01/24

.

336

339

991268119.UG.FTS.B,

29.49%,

12/01/24

.

301

296

991279292.UG.FTS.B,

29.49%,

12/01/24

.

378

26

991279786.UG.FTS.B,

29.49%,

12/01/24

.

98

97

991281800.UG.FTS.B,

29.49%,

12/01/24

.

29

2

991283740.UG.FTS.B,

29.49%,

12/01/24

.

113

114

991286731.UG.FTS.B,

29.49%,

12/01/24

.

923

(29)

991290149.UG.FTS.B,

29.49%,

12/01/24

.

48

48

991290418.UG.FTS.B,

29.49%,

12/01/24

.

292

296

991290834.UG.FTS.B,

29.49%,

12/01/24

.

575

571

991295578.UG.FTS.B,

29.49%,

12/01/24

.

139

137

991296855.UG.FTS.B,

29.49%,

12/01/24

.

1,126

1,116

991299824.UG.FTS.B,

29.49%,

12/01/24

.

577

581

991303746.UG.FTS.B,

29.49%,

12/01/24

.

23

23

991310117.UG.FTS.B,

29.49%,

12/01/24

.

8

8

991314063.UG.FTS.B,

29.49%,

12/01/24

.

157

156

991314226.UG.FTS.B,

29.49%,

12/01/24

.

19

19

991316266.UG.FTS.B,

29.49%,

12/01/24

.

57

4

991316347.UG.FTS.B,

29.49%,

12/01/24

.

102

103

991317052.UG.FTS.B,

29.49%,

12/01/24

.

90

91

991317463.UG.FTS.B,

29.49%,

12/01/24

.

22

22

991317904.UG.FTS.B,

29.49%,

12/01/24

.

3

3

991320615.UG.FTS.B,

29.49%,

12/01/24

.

81

81

991320943.UG.FTS.B,

29.49%,

12/01/24

.

867

861

991323578.UG.FTS.B,

29.49%,

12/01/24

.

433

431

991330889.UG.FTS.B,

29.49%,

12/01/24

.

51

51

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

344

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991335018.UG.FTS.B,

29.49%,

12/01/24

.

$

67

$

67

991336404.UG.FTS.B,

29.49%,

12/01/24

.

21

21

991339191.UG.FTS.B,

29.49%,

12/01/24

.

62

61

991340008.UG.FTS.B,

29.49%,

12/01/24

.

136

135

991341606.UG.FTS.B,

29.49%,

12/01/24

.

100

7

991341808.UG.FTS.B,

29.49%,

12/01/24

.

346

344

991344251.UG.FTS.B,

29.49%,

12/01/24

.

7

7

991344916.UG.FTS.B,

29.49%,

12/01/24

.

66

66

991345338.UG.FTS.B,

29.49%,

12/01/24

.

196

192

991355439.UG.FTS.B,

29.49%,

12/01/24

.

0

0

991359251.UG.FTS.B,

29.49%,

12/01/24

.

950

944

991359488.UG.FTS.B,

29.49%,

12/01/24

.

121

118

991359688.UG.FTS.B,

29.49%,

12/01/24

.

150

10

991365405.UG.FTS.B,

29.49%,

12/01/24

.

0

0

991369727.UG.FTS.B,

29.49%,

12/01/24

.

131

132

991379172.UG.FTS.B,

29.49%,

12/01/24

.

32

32

991379697.UG.FTS.B,

29.49%,

12/01/24

.

344

353

991380550.UG.FTS.B,

29.49%,

12/01/24

.

2,155

2,211

991381078.UG.FTS.B,

29.49%,

12/01/24

.

535

37

991383117.UG.FTS.B,

29.49%,

12/01/24

.

302

310

991383396.UG.FTS.B,

29.49%,

12/01/24

.

172

177

991337481.UG.FTS.B,

18.97%,

12/02/24

.

720

725

991347324.UG.FTS.B,

19.21%,

12/02/24

.

0

0

991331652.UG.FTS.B,

19.99%,

12/02/24

.

164

165

991358489.UG.FTS.B,

19.99%,

12/02/24

.

739

727

991364689.UG.FTS.B,

19.99%,

12/02/24

.

143

145

991378075.UG.FTS.B,

20.46%,

12/02/24

.

–

–

991331574.UG.FTS.B,

21.46%,

12/02/24

.

298

300

991346117.UG.FTS.B,

25.95%,

12/02/24

.

429

425

991334429.UG.FTS.B,

27.99%,

12/02/24

.

–

–

991326262.UG.FTS.B,

28.98%,

12/02/24

.

133

136

991330023.UG.FTS.B,

28.98%,

12/02/24

.

173

177

991333179.UG.FTS.B,

28.98%,

12/02/24

.

51

52

991337931.UG.FTS.B,

28.98%,

12/02/24

.

59

4

991338460.UG.FTS.B,

28.98%,

12/02/24

.

80

82

991345698.UG.FTS.B,

28.98%,

12/02/24

.

220

50

991346576.UG.FTS.B,

28.98%,

12/02/24

.

148

149

991346843.UG.FTS.B,

28.98%,

12/02/24

.

268

18

991347593.UG.FTS.B,

28.98%,

12/02/24

.

276

38

991347910.UG.FTS.B,

28.98%,

12/02/24

.

247

250

991356309.UG.FTS.B,

28.98%,

12/02/24

.

240

241

991357983.UG.FTS.B,

28.98%,

12/02/24

.

85

20

991358659.UG.FTS.B,

28.98%,

12/02/24

.

27

27

991358801.UG.FTS.B,

28.98%,

12/02/24

.

864

873

991364192.UG.FTS.B,

28.98%,

12/02/24

.

173

174

991375971.UG.FTS.B,

28.98%,

12/02/24

.

21

21

991377393.UG.FTS.B,

28.98%,

12/02/24

.

79

80

991330533.UG.FTS.B,

29.49%,

12/02/24

.

6

6

991332249.UG.FTS.B,

29.49%,

12/02/24

.

590

593

991339850.UG.FTS.B,

29.49%,

12/02/24

.

529

520

991340524.UG.FTS.B,

29.49%,

12/02/24

.

204

205

991346583.UG.FTS.B,

29.49%,

12/02/24

.

432

436

991348609.UG.FTS.B,

29.49%,

12/02/24

.

111

112

991348696.UG.FTS.B,

29.49%,

12/02/24

.

120

121

991353863.UG.FTS.B,

29.49%,

12/02/24

.

103

104

991354003.UG.FTS.B,

29.49%,

12/02/24

.

111

112

991354962.UG.FTS.B,

29.49%,

12/02/24

.

47

39

991355305.UG.FTS.B,

29.49%,

12/02/24

.

23

23

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991359351.UG.FTS.B,

29.49%,

12/02/24

.

$

77

$

76

991359987.UG.FTS.B,

29.49%,

12/02/24

.

14

14

991361643.UG.FTS.B,

29.49%,

12/02/24

.

88

90

991362022.UG.FTS.B,

29.49%,

12/02/24

.

111

112

991363340.UG.FTS.B,

29.49%,

12/02/24

.

46

46

991364256.UG.FTS.B,

29.49%,

12/02/24

.

71

71

991365055.UG.FTS.B,

29.49%,

12/02/24

.

16

16

991369349.UG.FTS.B,

29.49%,

12/02/24

.

219

215

991369363.UG.FTS.B,

29.49%,

12/02/24

.

88

89

991370712.UG.FTS.B,

29.49%,

12/02/24

.

157

158

991373345.UG.FTS.B,

29.49%,

12/02/24

.

124

125

991375433.UG.FTS.B,

29.49%,

12/02/24

.

80

81

991379240.UG.FTS.B,

29.49%,

12/02/24

.

782

–

991381201.UG.FTS.B,

29.49%,

12/02/24

.

31

30

991381375.UG.FTS.B,

29.49%,

12/02/24

.

265

184

991383012.UG.FTS.B,

29.49%,

12/02/24

.

3,824

267

991383439.UG.FTS.B,

29.49%,

12/02/24

.

219

221

991383559.UG.FTS.B,

29.49%,

12/02/24

.

46

–

991191338.UG.FTS.B,

19.8%,

12/05/24

..

115

113

991187412.UG.FTS.B,

19.99%,

12/05/24

.

492

489

991195736.UG.FTS.B,

27.99%,

12/05/24

.

228

226

991189231.UG.FTS.B,

28.98%,

12/05/24

.

180

175

991200264.UG.FTS.B,

28.98%,

12/05/24

.

181

178

991186409.UG.FTS.B,

29.49%,

12/05/24

.

4,892

4,858

991187382.UG.FTS.B,

29.49%,

12/05/24

.

131

130

991189246.UG.FTS.B,

29.49%,

12/05/24

.

75

73

991189701.UG.FTS.B,

29.49%,

12/05/24

.

34

33

991190483.UG.FTS.B,

29.49%,

12/05/24

.

136

135

991198784.UG.FTS.B,

29.49%,

12/05/24

.

295

18

991200707.UG.FTS.B,

29.49%,

12/05/24

.

379

375

991200418.UG.FTS.B,

Zero

Cpn,

12/06/24

2,954

–

991193714.UG.FTS.B,

14%,

12/06/24

....

2,209

156

991191497.UG.FTS.B,

14.98%,

12/06/24

.

479

487

991201575.UG.FTS.B,

15%,

12/06/24

....

847

852

991342949.UG.FTS.B,

15%,

12/06/24

....

302

305

991193410.UG.FTS.B,

15.97%,

12/06/24

.

96

98

991214247.UG.FTS.B,

15.97%,

12/06/24

.

161

164

991190915.UG.FTS.B,

16.99%,

12/06/24

.

282

285

991190999.UG.FTS.B,

16.99%,

12/06/24

.

1,264

87

991191303.UG.FTS.B,

16.99%,

12/06/24

.

2,615

2,661

991194549.UG.FTS.B,

16.99%,

12/06/24

.

135

135

991203416.UG.FTS.B,

16.99%,

12/06/24

.

990

1,007

991234426.UG.FTS.B,

16.99%,

12/06/24

.

902

917

991312754.UG.FTS.B,

16.99%,

12/06/24

.

92

93

991429687.UG.FTS.B,

16.99%,

12/06/24

.

73

74

991191183.UG.FTS.B,

17.97%,

12/06/24

.

5,928

6,001

991192927.UG.FTS.B,

17.97%,

12/06/24

.

3,646

3,708

991206793.UG.FTS.B,

17.99%,

12/06/24

.

989

995

991214877.UG.FTS.B,

19.21%,

12/06/24

.

943

957

991208432.UG.FTS.B,

19.8%,

12/06/24

..

180

44

991258598.UG.FTS.B,

19.99%,

12/06/24

.

99

99

991200958.UG.FTS.B,

20.46%,

12/06/24

.

493

483

991419325.UG.FTS.B,

27.99%,

12/06/24

.

367

77

991195313.UG.FTS.B,

28.98%,

12/06/24

.

2,227

2,287

991199727.UG.FTS.B,

28.98%,

12/06/24

.

168

165

991201139.UG.FTS.B,

28.98%,

12/06/24

.

284

279

991202979.UG.FTS.B,

28.98%,

12/06/24

.

253

247

991309246.UG.FTS.B,

28.98%,

12/06/24

.

26

26

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

345

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991347246.UG.FTS.B,

28.98%,

12/06/24

.

$

949

$

944

991378952.UG.FTS.B,

28.98%,

12/06/24

.

206

208

991202209.UG.FTS.B,

29.45%,

12/06/24

.

796

793

991201759.UG.FTS.B,

29.46%,

12/06/24

.

800

793

991203207.UG.FTS.B,

29.46%,

12/06/24

.

1,867

1,910

991198608.UG.FTS.B,

29.47%,

12/06/24

.

281

280

991190969.UG.FTS.B,

29.49%,

12/06/24

.

155

154

991193928.UG.FTS.B,

29.49%,

12/06/24

.

2,050

1,400

991196339.UG.FTS.B,

29.49%,

12/06/24

.

235

233

991196677.UG.FTS.B,

29.49%,

12/06/24

.

330

40

991198108.UG.FTS.B,

29.49%,

12/06/24

.

19

19

991199523.UG.FTS.B,

29.49%,

12/06/24

.

779

560

991201775.UG.FTS.B,

29.49%,

12/06/24

.

37

36

991206829.UG.FTS.B,

29.49%,

12/06/24

.

239

238

991219806.UG.FTS.B,

29.49%,

12/06/24

.

1,563

1,066

991223558.UG.FTS.B,

29.49%,

12/06/24

.

116

119

991260903.UG.FTS.B,

29.49%,

12/06/24

.

271

278

991279279.UG.FTS.B,

29.49%,

12/06/24

.

116

114

991344494.UG.FTS.B,

29.49%,

12/06/24

.

143

(7)

991354049.UG.FTS.B,

29.49%,

12/06/24

.

213

215

991377107.UG.FTS.B,

29.49%,

12/06/24

.

133

134

991409885.UG.FTS.B,

29.49%,

12/06/24

.

141

143

991204789.UG.FTS.B,

15.97%,

12/07/24

.

1,213

1,217

991410854.UG.FTS.B,

15.97%,

12/07/24

.

1,015

997

991199058.UG.FTS.B,

16.99%,

12/07/24

.

179

181

991205035.UG.FTS.B,

16.99%,

12/07/24

.

2,399

2,441

991202225.UG.FTS.B,

19.8%,

12/07/24

..

689

673

991202795.UG.FTS.B,

19.8%,

12/07/24

..

1,250

1,227

991199481.UG.FTS.B,

19.99%,

12/07/24

.

86

85

991203956.UG.FTS.B,

19.99%,

12/07/24

.

71

53

991313472.UG.FTS.B,

19.99%,

12/07/24

.

473

471

991201746.UG.FTS.B,

20.46%,

12/07/24

.

2,577

2,528

991199794.UG.FTS.B,

21.46%,

12/07/24

.

78

76

991200682.UG.FTS.B,

21.98%,

12/07/24

.

206

134

991284608.UG.FTS.B,

21.98%,

12/07/24

.

913

908

991207858.UG.FTS.B,

27.95%,

12/07/24

.

2,906

183

991198026.UG.FTS.B,

28.98%,

12/07/24

.

53

15

991198278.UG.FTS.B,

28.98%,

12/07/24

.

23

22

991198602.UG.FTS.B,

28.98%,

12/07/24

.

1,266

270

991199588.UG.FTS.B,

28.98%,

12/07/24

.

169

168

991200331.UG.FTS.B,

28.98%,

12/07/24

.

571

560

991201841.UG.FTS.B,

28.98%,

12/07/24

.

18

18

991203194.UG.FTS.B,

28.98%,

12/07/24

.

398

48

991203276.UG.FTS.B,

28.98%,

12/07/24

.

143

143

991204850.UG.FTS.B,

28.98%,

12/07/24

.

35

35

991207340.UG.FTS.B,

28.98%,

12/07/24

.

78

77

991218043.UG.FTS.B,

28.98%,

12/07/24

.

2,144

2,205

991221020.UG.FTS.B,

28.98%,

12/07/24

.

192

197

991307538.UG.FTS.B,

28.98%,

12/07/24

.

174

177

991397187.UG.FTS.B,

28.98%,

12/07/24

.

323

327

991433855.UG.FTS.B,

28.98%,

12/07/24

.

281

276

991198117.UG.FTS.B,

29.49%,

12/07/24

.

532

116

991198262.UG.FTS.B,

29.49%,

12/07/24

.

1,130

62

991199049.UG.FTS.B,

29.49%,

12/07/24

.

162

11

991199091.UG.FTS.B,

29.49%,

12/07/24

.

497

511

991199432.UG.FTS.B,

29.49%,

12/07/24

.

3,394

3,360

991199711.UG.FTS.B,

29.49%,

12/07/24

.

196

132

991199718.UG.FTS.B,

29.49%,

12/07/24

.

126

125

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991199938.UG.FTS.B,

29.49%,

12/07/24

.

$

9

$

9

991200072.UG.FTS.B,

29.49%,

12/07/24

.

510

506

991201830.UG.FTS.B,

29.49%,

12/07/24

.

122

118

991204107.UG.FTS.B,

29.49%,

12/07/24

.

1,261

148

991204182.UG.FTS.B,

29.49%,

12/07/24

.

1,562

1,598

991204464.UG.FTS.B,

29.49%,

12/07/24

.

99

12

991205183.UG.FTS.B,

29.49%,

12/07/24

.

567

564

991205347.UG.FTS.B,

29.49%,

12/07/24

.

61

(3)

991205366.UG.FTS.B,

29.49%,

12/07/24

.

53

52

991205733.UG.FTS.B,

29.49%,

12/07/24

.

653

649

991205792.UG.FTS.B,

29.49%,

12/07/24

.

411

408

991206725.UG.FTS.B,

29.49%,

12/07/24

.

696

692

991206968.UG.FTS.B,

29.49%,

12/07/24

.

281

274

991222972.UG.FTS.B,

29.49%,

12/07/24

.

465

471

991243302.UG.FTS.B,

29.49%,

12/07/24

.

745

45

991244474.UG.FTS.B,

29.49%,

12/07/24

.

117

117

991252149.UG.FTS.B,

29.49%,

12/07/24

.

98

23

991303288.UG.FTS.B,

29.49%,

12/07/24

.

2

2

991368859.UG.FTS.B,

29.49%,

12/07/24

.

1

1

991403269.UG.FTS.B,

29.49%,

12/07/24

.

546

535

991405592.UG.FTS.B,

29.49%,

12/07/24

.

272

263

991424738.UG.FTS.B,

29.49%,

12/07/24

.

38

37

991220358.UG.FTS.B,

Zero

Cpn,

12/08/24

167

–

991222406.UG.FTS.B,

Zero

Cpn,

12/08/24

143

–

991223256.UG.FTS.B,

Zero

Cpn,

12/08/24

337

–

991229085.UG.FTS.B,

Zero

Cpn,

12/08/24

435

–

991271473.UG.FTS.B,

Zero

Cpn,

12/08/24

300

–

991329985.UG.FTS.B,

Zero

Cpn,

12/08/24

301

–

991383507.UG.FTS.B,

Zero

Cpn,

12/08/24

100

–

991223847.UG.FTS.B,

14%,

12/08/24

....

214

218

991217779.UG.FTS.B,

14.97%,

12/08/24

.

6,762

6,888

991357997.UG.FTS.B,

14.97%,

12/08/24

.

687

695

991403049.UG.FTS.B,

14.97%,

12/08/24

.

314

316

991215872.UG.FTS.B,

14.98%,

12/08/24

.

0

0

991233425.UG.FTS.B,

14.98%,

12/08/24

.

2,301

2,341

991233663.UG.FTS.B,

14.98%,

12/08/24

.

278

283

991345394.UG.FTS.B,

14.98%,

12/08/24

.

650

662

991400268.UG.FTS.B,

14.98%,

12/08/24

.

2,638

1,645

991209407.UG.FTS.B,

15%,

12/08/24

....

2,714

2,737

991241433.UG.FTS.B,

15%,

12/08/24

....

354

354

991401636.UG.FTS.B,

15%,

12/08/24

....

323

326

991206263.UG.FTS.B,

15.97%,

12/08/24

.

172

174

991238380.UG.FTS.B,

15.97%,

12/08/24

.

336

342

991242064.UG.FTS.B,

15.97%,

12/08/24

.

310

316

991323004.UG.FTS.B,

15.97%,

12/08/24

.

473

481

991340673.UG.FTS.B,

15.97%,

12/08/24

.

842

858

991405894.UG.FTS.B,

15.97%,

12/08/24

.

2,397

2,420

991205065.UG.FTS.B,

16.99%,

12/08/24

.

66

66

991205558.UG.FTS.B,

16.99%,

12/08/24

.

490

499

991206337.UG.FTS.B,

16.99%,

12/08/24

.

574

580

991206750.UG.FTS.B,

16.99%,

12/08/24

.

2,367

2,409

991206979.UG.FTS.B,

16.99%,

12/08/24

.

5,563

5,619

991213394.UG.FTS.B,

16.99%,

12/08/24

.

775

780

991215999.UG.FTS.B,

16.99%,

12/08/24

.

5,550

5,645

991218331.UG.FTS.B,

16.99%,

12/08/24

.

2,549

2,593

991238587.UG.FTS.B,

16.99%,

12/08/24

.

397

396

991287220.UG.FTS.B,

16.99%,

12/08/24

.

379

385

991369993.UG.FTS.B,

16.99%,

12/08/24

.

1,875

1,841

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

346

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991212387.UG.FTS.B,

17.97%,

12/08/24

.

$

7,774

$

7,900

991216549.UG.FTS.B,

17.99%,

12/08/24

.

1,714

1,744

991227343.UG.FTS.B,

17.99%,

12/08/24

.

–

–

991233872.UG.FTS.B,

17.99%,

12/08/24

.

245

249

991273817.UG.FTS.B,

17.99%,

12/08/24

.

71

72

991298090.UG.FTS.B,

17.99%,

12/08/24

.

2,772

194

991323155.UG.FTS.B,

17.99%,

12/08/24

.

254

258

991360888.UG.FTS.B,

17.99%,

12/08/24

.

370

374

991362465.UG.FTS.B,

17.99%,

12/08/24

.

1,916

1,946

991386259.UG.FTS.B,

17.99%,

12/08/24

.

580

583

991239528.UG.FTS.B,

18.97%,

12/08/24

.

17,495

3,348

991446493.UG.FTS.B,

18.97%,

12/08/24

.

31

31

991299878.UG.FTS.B,

19.21%,

12/08/24

.

1,277

1,296

991373551.UG.FTS.B,

19.21%,

12/08/24

.

273

267

991213249.UG.FTS.B,

19.8%,

12/08/24

..

389

394

991215242.UG.FTS.B,

19.8%,

12/08/24

..

1,584

1,582

991262025.UG.FTS.B,

19.8%,

12/08/24

..

680

689

991273011.UG.FTS.B,

19.8%,

12/08/24

..

609

616

991290022.UG.FTS.B,

19.8%,

12/08/24

..

467

474

991290266.UG.FTS.B,

19.8%,

12/08/24

..

19

19

991319507.UG.FTS.B,

19.8%,

12/08/24

..

24

11

991207067.UG.FTS.B,

19.99%,

12/08/24

.

428

440

991208261.UG.FTS.B,

19.99%,

12/08/24

.

1,050

1,080

991210935.UG.FTS.B,

19.99%,

12/08/24

.

823

847

991211172.UG.FTS.B,

19.99%,

12/08/24

.

396

406

991214385.UG.FTS.B,

19.99%,

12/08/24

.

2,573

2,649

991214641.UG.FTS.B,

19.99%,

12/08/24

.

4,289

4,415

991216498.UG.FTS.B,

19.99%,

12/08/24

.

6,004

6,181

991275636.UG.FTS.B,

19.99%,

12/08/24

.

123

127

991302354.UG.FTS.B,

19.99%,

12/08/24

.

500

510

991341216.UG.FTS.B,

19.99%,

12/08/24

.

522

534

991359607.UG.FTS.B,

19.99%,

12/08/24

.

850

874

991361291.UG.FTS.B,

19.99%,

12/08/24

.

512

504

991412069.UG.FTS.B,

19.99%,

12/08/24

.

355

360

991213356.UG.FTS.B,

20.46%,

12/08/24

.

118

118

991297237.UG.FTS.B,

20.46%,

12/08/24

.

258

252

991358922.UG.FTS.B,

20.46%,

12/08/24

.

272

276

991363853.UG.FTS.B,

20.46%,

12/08/24

.

44

45

991259503.UG.FTS.B,

21.46%,

12/08/24

.

213

216

991265848.UG.FTS.B,

21.46%,

12/08/24

.

70

70

991268175.UG.FTS.B,

21.46%,

12/08/24

.

2,502

2,523

991316061.UG.FTS.B,

21.46%,

12/08/24

.

217

(4)

991320293.UG.FTS.B,

21.46%,

12/08/24

.

654

659

991343243.UG.FTS.B,

21.46%,

12/08/24

.

70

70

991345837.UG.FTS.B,

21.46%,

12/08/24

.

469

474

991350933.UG.FTS.B,

21.46%,

12/08/24

.

195

197

991223797.UG.FTS.B,

22.97%,

12/08/24

.

443

443

991260254.UG.FTS.B,

22.97%,

12/08/24

.

211

212

991415595.UG.FTS.B,

22.97%,

12/08/24

.

511

511

991346310.UG.FTS.B,

25.95%,

12/08/24

.

441

31

991290108.UG.FTS.B,

26.94%,

12/08/24

.

35

3

991423001.UG.FTS.B,

26.94%,

12/08/24

.

1,012

1,003

991315576.UG.FTS.B,

27.99%,

12/08/24

.

15

15

991315664.UG.FTS.B,

27.99%,

12/08/24

.

62

63

991203597.UG.FTS.B,

28.98%,

12/08/24

.

76

75

991203892.UG.FTS.B,

28.98%,

12/08/24

.

1,061

1,091

991208304.UG.FTS.B,

28.98%,

12/08/24

.

349

359

991210036.UG.FTS.B,

28.98%,

12/08/24

.

1,368

1,401

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991214712.UG.FTS.B,

28.98%,

12/08/24

.

$

2,066

$

2,126

991216630.UG.FTS.B,

28.98%,

12/08/24

.

85

20

991217143.UG.FTS.B,

28.98%,

12/08/24

.

2,048

2,072

991217853.UG.FTS.B,

28.98%,

12/08/24

.

2,637

2,714

991218074.UG.FTS.B,

28.98%,

12/08/24

.

1,193

1,220

991220074.UG.FTS.B,

28.98%,

12/08/24

.

1,021

127

991220601.UG.FTS.B,

28.98%,

12/08/24

.

307

316

991222269.UG.FTS.B,

28.98%,

12/08/24

.

111

74

991226863.UG.FTS.B,

28.98%,

12/08/24

.

295

303

991245195.UG.FTS.B,

28.98%,

12/08/24

.

51

52

991246111.UG.FTS.B,

28.98%,

12/08/24

.

167

172

991248557.UG.FTS.B,

28.98%,

12/08/24

.

112

115

991249237.UG.FTS.B,

28.98%,

12/08/24

.

78

80

991253023.UG.FTS.B,

28.98%,

12/08/24

.

64

65

991260535.UG.FTS.B,

28.98%,

12/08/24

.

196

201

991263248.UG.FTS.B,

28.98%,

12/08/24

.

412

422

991265277.UG.FTS.B,

28.98%,

12/08/24

.

196

196

991278212.UG.FTS.B,

28.98%,

12/08/24

.

982

1,009

991290590.UG.FTS.B,

28.98%,

12/08/24

.

6

6

991301682.UG.FTS.B,

28.98%,

12/08/24

.

483

58

991307338.UG.FTS.B,

28.98%,

12/08/24

.

179

180

991307693.UG.FTS.B,

28.98%,

12/08/24

.

22

22

991310600.UG.FTS.B,

28.98%,

12/08/24

.

194

192

991317659.UG.FTS.B,

28.98%,

12/08/24

.

128

131

991334924.UG.FTS.B,

28.98%,

12/08/24

.

1,334

1,365

991336471.UG.FTS.B,

28.98%,

12/08/24

.

316

315

991340573.UG.FTS.B,

28.98%,

12/08/24

.

1,728

1,775

991342598.UG.FTS.B,

28.98%,

12/08/24

.

140

142

991345802.UG.FTS.B,

28.98%,

12/08/24

.

374

385

991346915.UG.FTS.B,

28.98%,

12/08/24

.

184

124

991350123.UG.FTS.B,

28.98%,

12/08/24

.

269

276

991358361.UG.FTS.B,

28.98%,

12/08/24

.

217

223

991358554.UG.FTS.B,

28.98%,

12/08/24

.

173

178

991363714.UG.FTS.B,

28.98%,

12/08/24

.

264

267

991382013.UG.FTS.B,

28.98%,

12/08/24

.

150

148

991391880.UG.FTS.B,

28.98%,

12/08/24

.

104

105

991396086.UG.FTS.B,

28.98%,

12/08/24

.

149

150

991416236.UG.FTS.B,

28.98%,

12/08/24

.

313

315

991274456.UG.FTS.B,

29.45%,

12/08/24

.

242

241

991212452.UG.FTS.B,

29.46%,

12/08/24

.

1,916

416

991217222.UG.FTS.B,

29.46%,

12/08/24

.

875

885

991244901.UG.FTS.B,

29.46%,

12/08/24

.

587

127

991269532.UG.FTS.B,

29.46%,

12/08/24

.

149

152

991211572.UG.FTS.B,

29.47%,

12/08/24

.

1,835

1,840

991216803.UG.FTS.B,

29.47%,

12/08/24

.

5,281

5,432

991210459.UG.FTS.B,

29.48%,

12/08/24

.

1,405

1,444

991214299.UG.FTS.B,

29.48%,

12/08/24

.

2,353

150

991214958.UG.FTS.B,

29.48%,

12/08/24

.

1,292

1,326

991216602.UG.FTS.B,

29.48%,

12/08/24

.

1,037

1,066

991203718.UG.FTS.B,

29.49%,

12/08/24

.

568

584

991203729.UG.FTS.B,

29.49%,

12/08/24

.

341

351

991203818.UG.FTS.B,

29.49%,

12/08/24

.

82

81

991204243.UG.FTS.B,

29.49%,

12/08/24

.

50

16

991207112.UG.FTS.B,

29.49%,

12/08/24

.

199

203

991208035.UG.FTS.B,

29.49%,

12/08/24

.

57

57

991209636.UG.FTS.B,

29.49%,

12/08/24

.

2,786

2,858

991210195.UG.FTS.B,

29.49%,

12/08/24

.

2,365

2,430

991210818.UG.FTS.B,

29.49%,

12/08/24

.

31

2

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

347

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991211231.UG.FTS.B,

29.49%,

12/08/24

.

$

176

$

22

991213079.UG.FTS.B,

29.49%,

12/08/24

.

1,457

1,498

991213247.UG.FTS.B,

29.49%,

12/08/24

.

510

524

991213273.UG.FTS.B,

29.49%,

12/08/24

.

103

103

991213276.UG.FTS.B,

29.49%,

12/08/24

.

122

8

991213889.UG.FTS.B,

29.49%,

12/08/24

.

17

17

991214475.UG.FTS.B,

29.49%,

12/08/24

.

1,057

131

991215171.UG.FTS.B,

29.49%,

12/08/24

.

1,745

1,793

991215221.UG.FTS.B,

29.49%,

12/08/24

.

2,201

2,263

991218440.UG.FTS.B,

29.49%,

12/08/24

.

156

110

991222105.UG.FTS.B,

29.49%,

12/08/24

.

73

74

991222727.UG.FTS.B,

29.49%,

12/08/24

.

186

184

991224169.UG.FTS.B,

29.49%,

12/08/24

.

1,759

1,809

991226532.UG.FTS.B,

29.49%,

12/08/24

.

47

48

991229634.UG.FTS.B,

29.49%,

12/08/24

.

24

22

991243673.UG.FTS.B,

29.49%,

12/08/24

.

451

457

991244332.UG.FTS.B,

29.49%,

12/08/24

.

245

243

991245178.UG.FTS.B,

29.49%,

12/08/24

.

768

789

991245469.UG.FTS.B,

29.49%,

12/08/24

.

118

121

991248662.UG.FTS.B,

29.49%,

12/08/24

.

12

12

991248821.UG.FTS.B,

29.49%,

12/08/24

.

73

5

991248866.UG.FTS.B,

29.49%,

12/08/24

.

498

111

991249125.UG.FTS.B,

29.49%,

12/08/24

.

94

96

991249165.UG.FTS.B,

29.49%,

12/08/24

.

212

15

991249258.UG.FTS.B,

29.49%,

12/08/24

.

12

12

991252807.UG.FTS.B,

29.49%,

12/08/24

.

475

483

991253841.UG.FTS.B,

29.49%,

12/08/24

.

81

19

991256872.UG.FTS.B,

29.49%,

12/08/24

.

144

144

991259595.UG.FTS.B,

29.49%,

12/08/24

.

355

364

991260725.UG.FTS.B,

29.49%,

12/08/24

.

32

13

991262341.UG.FTS.B,

29.49%,

12/08/24

.

48

48

991264409.UG.FTS.B,

29.49%,

12/08/24

.

917

938

991264825.UG.FTS.B,

29.49%,

12/08/24

.

192

193

991269091.UG.FTS.B,

29.49%,

12/08/24

.

458

32

991269323.UG.FTS.B,

29.49%,

12/08/24

.

77

78

991275391.UG.FTS.B,

29.49%,

12/08/24

.

249

245

991281290.UG.FTS.B,

29.49%,

12/08/24

.

142

141

991287259.UG.FTS.B,

29.49%,

12/08/24

.

169

174

991288995.UG.FTS.B,

29.49%,

12/08/24

.

196

12

991289399.UG.FTS.B,

29.49%,

12/08/24

.

52

4

991301956.UG.FTS.B,

29.49%,

12/08/24

.

92

94

991302601.UG.FTS.B,

29.49%,

12/08/24

.

202

203

991306169.UG.FTS.B,

29.49%,

12/08/24

.

68

67

991306739.UG.FTS.B,

29.49%,

12/08/24

.

1,511

1,551

991307688.UG.FTS.B,

29.49%,

12/08/24

.

531

109

991309215.UG.FTS.B,

29.49%,

12/08/24

.

992

1,018

991317879.UG.FTS.B,

29.49%,

12/08/24

.

427

439

991318654.UG.FTS.B,

29.49%,

12/08/24

.

139

141

991319097.UG.FTS.B,

29.49%,

12/08/24

.

3

3

991319283.UG.FTS.B,

29.49%,

12/08/24

.

77

79

991330842.UG.FTS.B,

29.49%,

12/08/24

.

4,081

2,940

991330975.UG.FTS.B,

29.49%,

12/08/24

.

427

438

991332591.UG.FTS.B,

29.49%,

12/08/24

.

422

433

991338386.UG.FTS.B,

29.49%,

12/08/24

.

218

214

991339390.UG.FTS.B,

29.49%,

12/08/24

.

590

604

991342288.UG.FTS.B,

29.49%,

12/08/24

.

260

258

991342465.UG.FTS.B,

29.49%,

12/08/24

.

162

115

991345531.UG.FTS.B,

29.49%,

12/08/24

.

455

56

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991345897.UG.FTS.B,

29.49%,

12/08/24

.

$

452

$

447

991349015.UG.FTS.B,

29.49%,

12/08/24

.

943

964

991350869.UG.FTS.B,

29.49%,

12/08/24

.

363

243

991350999.UG.FTS.B,

29.49%,

12/08/24

.

87

87

991355972.UG.FTS.B,

29.49%,

12/08/24

.

554

35

991356417.UG.FTS.B,

29.49%,

12/08/24

.

259

261

991356609.UG.FTS.B,

29.49%,

12/08/24

.

160

164

991356835.UG.FTS.B,

29.49%,

12/08/24

.

13

13

991357406.UG.FTS.B,

29.49%,

12/08/24

.

71

72

991358257.UG.FTS.B,

29.49%,

12/08/24

.

174

178

991359235.UG.FTS.B,

29.49%,

12/08/24

.

139

31

991372313.UG.FTS.B,

29.49%,

12/08/24

.

141

138

991375119.UG.FTS.B,

29.49%,

12/08/24

.

130

126

991377012.UG.FTS.B,

29.49%,

12/08/24

.

1,706

1,715

991378672.UG.FTS.B,

29.49%,

12/08/24

.

68

18

991382074.UG.FTS.B,

29.49%,

12/08/24

.

80

81

991391597.UG.FTS.B,

29.49%,

12/08/24

.

433

437

991394440.UG.FTS.B,

29.49%,

12/08/24

.

9

9

991396297.UG.FTS.B,

29.49%,

12/08/24

.

127

(7)

991405209.UG.FTS.B,

29.49%,

12/08/24

.

140

10

991407604.UG.FTS.B,

29.49%,

12/08/24

.

36

14

991410096.UG.FTS.B,

29.49%,

12/08/24

.

53

54

991412185.UG.FTS.B,

29.49%,

12/08/24

.

44

45

991416240.UG.FTS.B,

29.49%,

12/08/24

.

102

102

991423640.UG.FTS.B,

29.49%,

12/08/24

.

191

193

991424598.UG.FTS.B,

29.49%,

12/08/24

.

274

206

991426546.UG.FTS.B,

29.49%,

12/08/24

.

91

90

991433950.UG.FTS.B,

29.49%,

12/08/24

.

110

107

991440743.UG.FTS.B,

29.49%,

12/08/24

.

216

212

991445457.UG.FTS.B,

29.49%,

12/08/24

.

111

109

991311660.UG.FTS.B,

14.98%,

12/09/24

.

2,764

2,727

991329494.UG.FTS.B,

15.97%,

12/09/24

.

326

321

991339753.UG.FTS.B,

15.97%,

12/09/24

.

209

207

991429379.UG.FTS.B,

15.97%,

12/09/24

.

67

66

991455537.UG.FTS.B,

15.97%,

12/09/24

.

111

109

991355729.UG.FTS.B,

16.99%,

12/09/24

.

242

239

991379877.UG.FTS.B,

16.99%,

12/09/24

.

643

635

991305751.UG.FTS.B,

17.99%,

12/09/24

.

522

515

991354689.UG.FTS.B,

17.99%,

12/09/24

.

433

427

991391034.UG.FTS.B,

17.99%,

12/09/24

.

74

73

991433523.UG.FTS.B,

17.99%,

12/09/24

.

899

882

991338916.UG.FTS.B,

18.97%,

12/09/24

.

633

620

991405926.UG.FTS.B,

18.97%,

12/09/24

.

122

120

991408506.UG.FTS.B,

18.97%,

12/09/24

.

3,128

3,064

991399488.UG.FTS.B,

19.21%,

12/09/24

.

125

54

991333702.UG.FTS.B,

19.8%,

12/09/24

..

4,283

4,181

991300625.UG.FTS.B,

20.46%,

12/09/24

.

27

27

991341287.UG.FTS.B,

20.46%,

12/09/24

.

1,278

1,255

991355570.UG.FTS.B,

20.46%,

12/09/24

.

315

310

991370075.UG.FTS.B,

20.97%,

12/09/24

.

258

252

991331235.UG.FTS.B,

21.46%,

12/09/24

.

598

586

991349195.UG.FTS.B,

21.46%,

12/09/24

.

117

115

991446107.UG.FTS.B,

21.46%,

12/09/24

.

23

23

991329266.UG.FTS.B,

23.95%,

12/09/24

.

1,919

1,872

991304554.UG.FTS.B,

27.99%,

12/09/24

.

411

404

991299355.UG.FTS.B,

28.98%,

12/09/24

.

2,281

278

991303272.UG.FTS.B,

28.98%,

12/09/24

.

100

98

991305571.UG.FTS.B,

28.98%,

12/09/24

.

8

8

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

348

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991306451.UG.FTS.B,

28.98%,

12/09/24

.

$

91

$

11

991310225.UG.FTS.B,

28.98%,

12/09/24

.

261

260

991311758.UG.FTS.B,

28.98%,

12/09/24

.

197

193

991317869.UG.FTS.B,

28.98%,

12/09/24

.

81

81

991318049.UG.FTS.B,

28.98%,

12/09/24

.

64

63

991319463.UG.FTS.B,

28.98%,

12/09/24

.

317

315

991327625.UG.FTS.B,

28.98%,

12/09/24

.

136

135

991331258.UG.FTS.B,

28.98%,

12/09/24

.

521

519

991336814.UG.FTS.B,

28.98%,

12/09/24

.

1,646

1,614

991344560.UG.FTS.B,

28.98%,

12/09/24

.

251

246

991350413.UG.FTS.B,

28.98%,

12/09/24

.

23

23

991359328.UG.FTS.B,

28.98%,

12/09/24

.

866

862

991394745.UG.FTS.B,

28.98%,

12/09/24

.

539

529

991406002.UG.FTS.B,

28.98%,

12/09/24

.

177

174

991407429.UG.FTS.B,

28.98%,

12/09/24

.

259

255

991418045.UG.FTS.B,

28.98%,

12/09/24

.

66

64

991418068.UG.FTS.B,

28.98%,

12/09/24

.

10

10

991420041.UG.FTS.B,

28.98%,

12/09/24

.

955

939

991423472.UG.FTS.B,

28.98%,

12/09/24

.

33

32

991425673.UG.FTS.B,

28.98%,

12/09/24

.

366

360

991306319.UG.FTS.B,

29.49%,

12/09/24

.

236

16

991308780.UG.FTS.B,

29.49%,

12/09/24

.

125

124

991317613.UG.FTS.B,

29.49%,

12/09/24

.

193

190

991322433.UG.FTS.B,

29.49%,

12/09/24

.

305

304

991326331.UG.FTS.B,

29.49%,

12/09/24

.

164

164

991340182.UG.FTS.B,

29.49%,

12/09/24

.

232

229

991350590.UG.FTS.B,

29.49%,

12/09/24

.

151

148

991352448.UG.FTS.B,

29.49%,

12/09/24

.

283

282

991360411.UG.FTS.B,

29.49%,

12/09/24

.

813

798

991367240.UG.FTS.B,

29.49%,

12/09/24

.

584

582

991393693.UG.FTS.B,

29.49%,

12/09/24

.

382

374

991400367.UG.FTS.B,

29.49%,

12/09/24

.

204

44

991407585.UG.FTS.B,

29.49%,

12/09/24

.

334

328

991407759.UG.FTS.B,

29.49%,

12/09/24

.

368

25

991421184.UG.FTS.B,

29.49%,

12/09/24

.

256

250

991424182.UG.FTS.B,

29.49%,

12/09/24

.

265

260

991446181.UG.FTS.B,

29.49%,

12/09/24

.

19

17

991366767.UG.FTS.B,

14.98%,

12/10/24

.

397

390

991416701.UG.FTS.B,

14.98%,

12/10/24

.

5,026

4,935

991422733.UG.FTS.B,

14.98%,

12/10/24

.

25

25

991464314.UG.FTS.B,

15%,

12/10/24

....

297

291

991326214.UG.FTS.B,

15.97%,

12/10/24

.

10

10

991354349.UG.FTS.B,

15.99%,

12/10/24

.

109

107

991301523.UG.FTS.B,

16.99%,

12/10/24

.

225

222

991345795.UG.FTS.B,

16.99%,

12/10/24

.

633

625

991441221.UG.FTS.B,

16.99%,

12/10/24

.

546

536

991339062.UG.FTS.B,

17.99%,

12/10/24

.

194

191

991372053.UG.FTS.B,

17.99%,

12/10/24

.

2,277

2,233

991402286.UG.FTS.B,

17.99%,

12/10/24

.

1,777

1,744

991437120.UG.FTS.B,

17.99%,

12/10/24

.

2,527

2,479

991323235.UG.FTS.B,

18.97%,

12/10/24

.

530

521

991398995.UG.FTS.B,

18.97%,

12/10/24

.

235

232

991330184.UG.FTS.B,

19.21%,

12/10/24

.

60

59

991338806.UG.FTS.B,

19.21%,

12/10/24

.

3,343

3,285

991368704.UG.FTS.B,

19.8%,

12/10/24

..

717

700

991418713.UG.FTS.B,

19.8%,

12/10/24

..

69

68

991323566.UG.FTS.B,

19.99%,

12/10/24

.

3,382

3,373

991391063.UG.FTS.B,

19.99%,

12/10/24

.

450

441

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991418338.UG.FTS.B,

19.99%,

12/10/24

.

$

68

$

17

991399269.UG.FTS.B,

20.46%,

12/10/24

.

425

414

991310309.UG.FTS.B,

21.46%,

12/10/24

.

366

359

991334473.UG.FTS.B,

21.46%,

12/10/24

.

419

407

991369350.UG.FTS.B,

21.46%,

12/10/24

.

136

133

991406420.UG.FTS.B,

21.46%,

12/10/24

.

174

111

991356589.UG.FTS.B,

23.95%,

12/10/24

.

214

209

991297252.UG.FTS.B,

28.98%,

12/10/24

.

360

24

991302262.UG.FTS.B,

28.98%,

12/10/24

.

572

562

991302676.UG.FTS.B,

28.98%,

12/10/24

.

1,269

1,256

991308154.UG.FTS.B,

28.98%,

12/10/24

.

214

212

991308764.UG.FTS.B,

28.98%,

12/10/24

.

962

959

991315633.UG.FTS.B,

28.98%,

12/10/24

.

13

12

991317772.UG.FTS.B,

28.98%,

12/10/24

.

253

17

991318295.UG.FTS.B,

28.98%,

12/10/24

.

252

252

991323212.UG.FTS.B,

28.98%,

12/10/24

.

871

859

991326852.UG.FTS.B,

28.98%,

12/10/24

.

334

333

991333962.UG.FTS.B,

28.98%,

12/10/24

.

126

124

991335766.UG.FTS.B,

28.98%,

12/10/24

.

162

158

991360120.UG.FTS.B,

28.98%,

12/10/24

.

928

909

991366912.UG.FTS.B,

28.98%,

12/10/24

.

1,013

1,009

991392015.UG.FTS.B,

28.98%,

12/10/24

.

64

8

991405194.UG.FTS.B,

28.98%,

12/10/24

.

72

52

991407052.UG.FTS.B,

28.98%,

12/10/24

.

619

42

991408695.UG.FTS.B,

28.98%,

12/10/24

.

587

578

991421339.UG.FTS.B,

28.98%,

12/10/24

.

173

169

991431872.UG.FTS.B,

28.98%,

12/10/24

.

55

7

991448481.UG.FTS.B,

28.98%,

12/10/24

.

388

381

991283478.UG.FTS.B,

29.49%,

12/10/24

.

–

–

991299978.UG.FTS.B,

29.49%,

12/10/24

.

154

153

991300618.UG.FTS.B,

29.49%,

12/10/24

.

391

388

991302432.UG.FTS.B,

29.49%,

12/10/24

.

178

177

991305812.UG.FTS.B,

29.49%,

12/10/24

.

50

3

991309761.UG.FTS.B,

29.49%,

12/10/24

.

96

22

991312810.UG.FTS.B,

29.49%,

12/10/24

.

591

580

991314678.UG.FTS.B,

29.49%,

12/10/24

.

95

95

991314974.UG.FTS.B,

29.49%,

12/10/24

.

118

117

991331833.UG.FTS.B,

29.49%,

12/10/24

.

1,050

1,040

991334897.UG.FTS.B,

29.49%,

12/10/24

.

84

83

991345598.UG.FTS.B,

29.49%,

12/10/24

.

93

92

991350659.UG.FTS.B,

29.49%,

12/10/24

.

387

26

991362967.UG.FTS.B,

29.49%,

12/10/24

.

184

13

991369304.UG.FTS.B,

29.49%,

12/10/24

.

97

96

991394774.UG.FTS.B,

29.49%,

12/10/24

.

64

63

991397440.UG.FTS.B,

29.49%,

12/10/24

.

50

49

991397722.UG.FTS.B,

29.49%,

12/10/24

.

154

151

991398718.UG.FTS.B,

29.49%,

12/10/24

.

1,732

1,692

991406664.UG.FTS.B,

29.49%,

12/10/24

.

58

46

991407380.UG.FTS.B,

29.49%,

12/10/24

.

241

237

991407945.UG.FTS.B,

29.49%,

12/10/24

.

866

850

991409057.UG.FTS.B,

29.49%,

12/10/24

.

61

60

991409861.UG.FTS.B,

29.49%,

12/10/24

.

24

24

991411230.UG.FTS.B,

29.49%,

12/10/24

.

28

28

991420506.UG.FTS.B,

29.49%,

12/10/24

.

6

6

991423603.UG.FTS.B,

29.49%,

12/10/24

.

159

156

991428744.UG.FTS.B,

29.49%,

12/10/24

.

106

(5)

991431700.UG.FTS.B,

29.49%,

12/10/24

.

295

63

991440606.UG.FTS.B,

29.49%,

12/10/24

.

475

466

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

349

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991453536.UG.FTS.B,

29.49%,

12/10/24

.

$

141

$

139

991418902.UG.FTS.B,

Zero

Cpn,

12/11/24

131

–

991447793.UG.FTS.B,

14.98%,

12/11/24

.

753

739

991351944.UG.FTS.B,

15.97%,

12/11/24

.

29

28

991379243.UG.FTS.B,

16.99%,

12/11/24

.

1,876

146

991383476.UG.FTS.B,

16.99%,

12/11/24

.

8,760

8,637

991415421.UG.FTS.B,

16.99%,

12/11/24

.

9

9

991421136.UG.FTS.B,

17.99%,

12/11/24

.

124

122

991453515.UG.FTS.B,

17.99%,

12/11/24

.

88

61

991322847.UG.FTS.B,

18.97%,

12/11/24

.

663

653

991309704.UG.FTS.B,

19.21%,

12/11/24

.

794

777

991313630.UG.FTS.B,

19.21%,

12/11/24

.

412

403

991359085.UG.FTS.B,

19.21%,

12/11/24

.

848

835

991407432.UG.FTS.B,

19.21%,

12/11/24

.

75

74

991299880.UG.FTS.B,

19.8%,

12/11/24

..

341

336

991332070.UG.FTS.B,

19.99%,

12/11/24

.

836

94

991358100.UG.FTS.B,

19.99%,

12/11/24

.

143

10

991386605.UG.FTS.B,

19.99%,

12/11/24

.

706

704

991412047.UG.FTS.B,

20.46%,

12/11/24

.

218

42

991300215.UG.FTS.B,

21.46%,

12/11/24

.

160

155

991317515.UG.FTS.B,

21.46%,

12/11/24

.

23

22

991302424.UG.FTS.B,

22.97%,

12/11/24

.

260

254

991331015.UG.FTS.B,

22.97%,

12/11/24

.

257

252

991231171.UG.FTS.B,

26.94%,

12/11/24

.

430

29

991314763.UG.FTS.B,

26.94%,

12/11/24

.

551

536

991299623.UG.FTS.B,

28.98%,

12/11/24

.

393

392

991300168.UG.FTS.B,

28.98%,

12/11/24

.

39

38

991305908.UG.FTS.B,

28.98%,

12/11/24

.

89

88

991308149.UG.FTS.B,

28.98%,

12/11/24

.

289

284

991330945.UG.FTS.B,

28.98%,

12/11/24

.

96

95

991336089.UG.FTS.B,

28.98%,

12/11/24

.

64

63

991342536.UG.FTS.B,

28.98%,

12/11/24

.

41

35

991343324.UG.FTS.B,

28.98%,

12/11/24

.

38

38

991365848.UG.FTS.B,

28.98%,

12/11/24

.

2,136

2,088

991393173.UG.FTS.B,

28.98%,

12/11/24

.

266

262

991400497.UG.FTS.B,

28.98%,

12/11/24

.

433

427

991403287.UG.FTS.B,

28.98%,

12/11/24

.

50

50

991420297.UG.FTS.B,

28.98%,

12/11/24

.

60

58

991425034.UG.FTS.B,

28.98%,

12/11/24

.

1,072

1,047

991443761.UG.FTS.B,

28.98%,

12/11/24

.

25

25

991299810.UG.FTS.B,

29.49%,

12/11/24

.

175

174

991300246.UG.FTS.B,

29.49%,

12/11/24

.

17

16

991302355.UG.FTS.B,

29.49%,

12/11/24

.

1,335

1,330

991304642.UG.FTS.B,

29.49%,

12/11/24

.

178

115

991309719.UG.FTS.B,

29.49%,

12/11/24

.

2

2

991315059.UG.FTS.B,

29.49%,

12/11/24

.

112

109

991324432.UG.FTS.B,

29.49%,

12/11/24

.

109

14

991338982.UG.FTS.B,

29.49%,

12/11/24

.

398

394

991350172.UG.FTS.B,

29.49%,

12/11/24

.

–

–

991386872.UG.FTS.B,

29.49%,

12/11/24

.

68

67

991389281.UG.FTS.B,

29.49%,

12/11/24

.

83

82

991393007.UG.FTS.B,

29.49%,

12/11/24

.

270

264

991399713.UG.FTS.B,

29.49%,

12/11/24

.

77

5

991409814.UG.FTS.B,

29.49%,

12/11/24

.

421

274

991423398.UG.FTS.B,

29.49%,

12/11/24

.

65

64

991424582.UG.FTS.B,

29.49%,

12/11/24

.

120

118

991426474.UG.FTS.B,

29.49%,

12/11/24

.

390

382

991427889.UG.FTS.B,

29.49%,

12/11/24

.

152

148

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991432141.UG.FTS.B,

29.49%,

12/11/24

.

$

38

$

37

991432301.UG.FTS.B,

29.49%,

12/11/24

.

34

33

991444252.UG.FTS.B,

29.49%,

12/11/24

.

146

30

991445413.UG.FTS.B,

29.49%,

12/11/24

.

678

656

991305236.UG.FTS.B,

Zero

Cpn,

12/12/24

102

–

991381959.UG.FTS.B,

15%,

12/12/24

....

4,702

4,640

991339855.UG.FTS.B,

15.97%,

12/12/24

.

513

507

991447662.UG.FTS.B,

15.97%,

12/12/24

.

1,006

990

991334534.UG.FTS.B,

16.99%,

12/12/24

.

245

241

991384624.UG.FTS.B,

16.99%,

12/12/24

.

135

133

991407635.UG.FTS.B,

16.99%,

12/12/24

.

843

832

991423157.UG.FTS.B,

16.99%,

12/12/24

.

723

710

991326016.UG.FTS.B,

17.97%,

12/12/24

.

1,794

1,767

991302143.UG.FTS.B,

17.99%,

12/12/24

.

770

759

991341778.UG.FTS.B,

17.99%,

12/12/24

.

763

753

991347694.UG.FTS.B,

17.99%,

12/12/24

.

29

29

991361911.UG.FTS.B,

17.99%,

12/12/24

.

9

9

991337675.UG.FTS.B,

18.97%,

12/12/24

.

911

62

991438550.UG.FTS.B,

18.97%,

12/12/24

.

1,312

247

991444022.UG.FTS.B,

19.21%,

12/12/24

.

670

655

991316447.UG.FTS.B,

19.46%,

12/12/24

.

1,801

1,769

991304639.UG.FTS.B,

19.8%,

12/12/24

..

155

11

991341537.UG.FTS.B,

19.8%,

12/12/24

..

1,277

1,256

991348928.UG.FTS.B,

19.8%,

12/12/24

..

3,843

3,755

991442130.UG.FTS.B,

19.8%,

12/12/24

..

164

160

991312439.UG.FTS.B,

19.99%,

12/12/24

.

276

21

991318223.UG.FTS.B,

19.99%,

12/12/24

.

173

173

991318950.UG.FTS.B,

19.99%,

12/12/24

.

341

341

991326142.UG.FTS.B,

19.99%,

12/12/24

.

271

266

991355935.UG.FTS.B,

19.99%,

12/12/24

.

54

54

991314252.UG.FTS.B,

20.46%,

12/12/24

.

875

859

991440326.UG.FTS.B,

20.46%,

12/12/24

.

1,427

161

991341745.UG.FTS.B,

20.97%,

12/12/24

.

184

182

991318925.UG.FTS.B,

21.97%,

12/12/24

.

165

162

991350986.UG.FTS.B,

21.98%,

12/12/24

.

42

3

991392018.UG.FTS.B,

21.98%,

12/12/24

.

4

4

991435822.UG.FTS.B,

22.97%,

12/12/24

.

17

3

991372402.UG.FTS.B,

23.95%,

12/12/24

.

56

55

991447468.UG.FTS.B,

23.95%,

12/12/24

.

1,280

1,239

991297454.UG.FTS.B,

28.98%,

12/12/24

.

84

83

991299959.UG.FTS.B,

28.98%,

12/12/24

.

136

135

991306531.UG.FTS.B,

28.98%,

12/12/24

.

22

22

991309891.UG.FTS.B,

28.98%,

12/12/24

.

126

125

991311852.UG.FTS.B,

28.98%,

12/12/24

.

57

56

991312161.UG.FTS.B,

28.98%,

12/12/24

.

124

121

991315274.UG.FTS.B,

28.98%,

12/12/24

.

827

819

991317397.UG.FTS.B,

28.98%,

12/12/24

.

562

561

991332248.UG.FTS.B,

28.98%,

12/12/24

.

98

97

991335451.UG.FTS.B,

28.98%,

12/12/24

.

56

55

991345529.UG.FTS.B,

28.98%,

12/12/24

.

408

399

991356211.UG.FTS.B,

28.98%,

12/12/24

.

222

221

991397130.UG.FTS.B,

28.98%,

12/12/24

.

1,511

1,476

991402304.UG.FTS.B,

28.98%,

12/12/24

.

63

4

991409310.UG.FTS.B,

28.98%,

12/12/24

.

–

–

991428424.UG.FTS.B,

28.98%,

12/12/24

.

457

450

991434684.UG.FTS.B,

28.98%,

12/12/24

.

932

916

991439324.UG.FTS.B,

28.98%,

12/12/24

.

619

131

991361115.UG.FTS.B,

29.47%,

12/12/24

.

11

10

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

350

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991406398.UG.FTS.B,

29.48%,

12/12/24

.

$

395

$

385

991300821.UG.FTS.B,

29.49%,

12/12/24

.

454

453

991300935.UG.FTS.B,

29.49%,

12/12/24

.

147

143

991304189.UG.FTS.B,

29.49%,

12/12/24

.

229

228

991304371.UG.FTS.B,

29.49%,

12/12/24

.

743

727

991305149.UG.FTS.B,

29.49%,

12/12/24

.

1,678

1,662

991305854.UG.FTS.B,

29.49%,

12/12/24

.

289

288

991307752.UG.FTS.B,

29.49%,

12/12/24

.

76

75

991309900.UG.FTS.B,

29.49%,

12/12/24

.

58

57

991312106.UG.FTS.B,

29.49%,

12/12/24

.

377

373

991313672.UG.FTS.B,

29.49%,

12/12/24

.

255

253

991319153.UG.FTS.B,

29.49%,

12/12/24

.

779

53

991324499.UG.FTS.B,

29.49%,

12/12/24

.

36

36

991324558.UG.FTS.B,

29.49%,

12/12/24

.

178

178

991327730.UG.FTS.B,

29.49%,

12/12/24

.

122

26

991330788.UG.FTS.B,

29.49%,

12/12/24

.

1,750

1,705

991332593.UG.FTS.B,

29.49%,

12/12/24

.

355

352

991335907.UG.FTS.B,

29.49%,

12/12/24

.

55

54

991345307.UG.FTS.B,

29.49%,

12/12/24

.

149

149

991353340.UG.FTS.B,

29.49%,

12/12/24

.

48

(2)

991360398.UG.FTS.B,

29.49%,

12/12/24

.

45

44

991368094.UG.FTS.B,

29.49%,

12/12/24

.

118

8

991375720.UG.FTS.B,

29.49%,

12/12/24

.

38

38

991387894.UG.FTS.B,

29.49%,

12/12/24

.

738

735

991398771.UG.FTS.B,

29.49%,

12/12/24

.

434

427

991399754.UG.FTS.B,

29.49%,

12/12/24

.

212

209

991402789.UG.FTS.B,

29.49%,

12/12/24

.

56

55

991404235.UG.FTS.B,

29.49%,

12/12/24

.

165

161

991405158.UG.FTS.B,

29.49%,

12/12/24

.

252

246

991405712.UG.FTS.B,

29.49%,

12/12/24

.

200

194

991406536.UG.FTS.B,

29.49%,

12/12/24

.

299

293

991407702.UG.FTS.B,

29.49%,

12/12/24

.

135

9

991408740.UG.FTS.B,

29.49%,

12/12/24

.

81

80

991424612.UG.FTS.B,

29.49%,

12/12/24

.

201

197

991428521.UG.FTS.B,

29.49%,

12/12/24

.

76

5

991431493.UG.FTS.B,

29.49%,

12/12/24

.

2,305

2,261

991442654.UG.FTS.B,

29.49%,

12/12/24

.

103

(5)

991444573.UG.FTS.B,

29.49%,

12/12/24

.

228

222

991455291.UG.FTS.B,

29.49%,

12/12/24

.

–

–

991413195.UG.FTS.B,

Zero

Cpn,

12/13/24

110

–

991248124.UG.FTS.B,

14.98%,

12/13/24

.

184

186

991302421.UG.FTS.B,

14.98%,

12/13/24

.

2,952

3,008

991336985.UG.FTS.B,

14.98%,

12/13/24

.

35

35

991401701.UG.FTS.B,

14.98%,

12/13/24

.

574

567

991308466.UG.FTS.B,

15%,

12/13/24

....

429

421

991349605.UG.FTS.B,

15%,

12/13/24

....

335

329

991319523.UG.FTS.B,

15.97%,

12/13/24

.

117

13

991328858.UG.FTS.B,

15.97%,

12/13/24

.

2

2

991384387.UG.FTS.B,

15.97%,

12/13/24

.

925

909

991417112.UG.FTS.B,

15.97%,

12/13/24

.

7,565

7,472

991240922.UG.FTS.B,

16.99%,

12/13/24

.

226

230

991309513.UG.FTS.B,

16.99%,

12/13/24

.

1,407

1,387

991379195.UG.FTS.B,

16.99%,

12/13/24

.

2,796

2,760

991307518.UG.FTS.B,

17.99%,

12/13/24

.

1,130

1,114

991341019.UG.FTS.B,

17.99%,

12/13/24

.

755

740

991350142.UG.FTS.B,

17.99%,

12/13/24

.

1,006

992

991383946.UG.FTS.B,

17.99%,

12/13/24

.

689

702

991385429.UG.FTS.B,

17.99%,

12/13/24

.

2

2

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991438111.UG.FTS.B,

17.99%,

12/13/24

.

$

96

$

95

991298164.UG.FTS.B,

18.97%,

12/13/24

.

2,334

2,305

991313664.UG.FTS.B,

18.97%,

12/13/24

.

477

470

991440734.UG.FTS.B,

18.97%,

12/13/24

.

232

228

991329812.UG.FTS.B,

19.21%,

12/13/24

.

956

942

991340458.UG.FTS.B,

19.21%,

12/13/24

.

1,957

1,927

991346666.UG.FTS.B,

19.21%,

12/13/24

.

255

251

991446034.UG.FTS.B,

19.21%,

12/13/24

.

46

45

991324475.UG.FTS.B,

19.8%,

12/13/24

..

128

126

991360922.UG.FTS.B,

19.8%,

12/13/24

..

75

74

991361774.UG.FTS.B,

19.8%,

12/13/24

..

98

96

991451736.UG.FTS.B,

19.8%,

12/13/24

..

1,423

1,433

991331713.UG.FTS.B,

19.99%,

12/13/24

.

256

255

991343301.UG.FTS.B,

19.99%,

12/13/24

.

816

803

991390998.UG.FTS.B,

19.99%,

12/13/24

.

255

254

991248643.UG.FTS.B,

20.46%,

12/13/24

.

2,687

2,745

991373941.UG.FTS.B,

20.46%,

12/13/24

.

487

478

991375502.UG.FTS.B,

20.46%,

12/13/24

.

289

283

991296644.UG.FTS.B,

20.97%,

12/13/24

.

1,079

1,094

991345917.UG.FTS.B,

21.46%,

12/13/24

.

1,066

1,044

991341535.UG.FTS.B,

22.95%,

12/13/24

.

434

85

991389712.UG.FTS.B,

22.95%,

12/13/24

.

114

112

991280725.UG.FTS.B,

22.97%,

12/13/24

.

494

499

991336825.UG.FTS.B,

22.97%,

12/13/24

.

31

31

991242346.UG.FTS.B,

24.95%,

12/13/24

.

482

477

991340452.UG.FTS.B,

24.95%,

12/13/24

.

168

162

991394120.UG.FTS.B,

26.94%,

12/13/24

.

391

82

991300687.UG.FTS.B,

28.98%,

12/13/24

.

56

56

991303511.UG.FTS.B,

28.98%,

12/13/24

.

95

94

991303612.UG.FTS.B,

28.98%,

12/13/24

.

350

349

991310315.UG.FTS.B,

28.98%,

12/13/24

.

11

11

991313210.UG.FTS.B,

28.98%,

12/13/24

.

352

351

991331886.UG.FTS.B,

28.98%,

12/13/24

.

2,006

1,990

991346962.UG.FTS.B,

28.98%,

12/13/24

.

174

174

991347766.UG.FTS.B,

28.98%,

12/13/24

.

216

213

991356130.UG.FTS.B,

28.98%,

12/13/24

.

323

94

991357803.UG.FTS.B,

28.98%,

12/13/24

.

368

367

991364308.UG.FTS.B,

28.98%,

12/13/24

.

308

306

991367977.UG.FTS.B,

28.98%,

12/13/24

.

293

289

991388005.UG.FTS.B,

28.98%,

12/13/24

.

112

110

991391181.UG.FTS.B,

28.98%,

12/13/24

.

240

239

991391691.UG.FTS.B,

28.98%,

12/13/24

.

1,732

1,726

991405919.UG.FTS.B,

28.98%,

12/13/24

.

414

(10)

991411685.UG.FTS.B,

28.98%,

12/13/24

.

623

613

991438351.UG.FTS.B,

28.98%,

12/13/24

.

863

849

991448530.UG.FTS.B,

28.98%,

12/13/24

.

74

73

991315971.UG.FTS.B,

29.48%,

12/13/24

.

625

81

991432440.UG.FTS.B,

29.48%,

12/13/24

.

205

200

991296594.UG.FTS.B,

29.49%,

12/13/24

.

19

9

991303322.UG.FTS.B,

29.49%,

12/13/24

.

11

11

991305808.UG.FTS.B,

29.49%,

12/13/24

.

40

39

991307672.UG.FTS.B,

29.49%,

12/13/24

.

12

12

991310090.UG.FTS.B,

29.49%,

12/13/24

.

406

405

991311719.UG.FTS.B,

29.49%,

12/13/24

.

94

92

991312918.UG.FTS.B,

29.49%,

12/13/24

.

242

241

991319761.UG.FTS.B,

29.49%,

12/13/24

.

409

407

991324789.UG.FTS.B,

29.49%,

12/13/24

.

401

394

991334231.UG.FTS.B,

29.49%,

12/13/24

.

921

908

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

351

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991334276.UG.FTS.B,

29.49%,

12/13/24

.

$

193

$

189

991335192.UG.FTS.B,

29.49%,

12/13/24

.

11

11

991337297.UG.FTS.B,

29.49%,

12/13/24

.

1,108

1,086

991347765.UG.FTS.B,

29.49%,

12/13/24

.

975

971

991353303.UG.FTS.B,

29.49%,

12/13/24

.

37

37

991358773.UG.FTS.B,

29.49%,

12/13/24

.

1,385

902

991359585.UG.FTS.B,

29.49%,

12/13/24

.

198

14

991360540.UG.FTS.B,

29.49%,

12/13/24

.

114

8

991360722.UG.FTS.B,

29.49%,

12/13/24

.

175

175

991363707.UG.FTS.B,

29.49%,

12/13/24

.

939

213

991367295.UG.FTS.B,

29.49%,

12/13/24

.

44

36

991389357.UG.FTS.B,

29.49%,

12/13/24

.

193

189

991399497.UG.FTS.B,

29.49%,

12/13/24

.

868

865

991405634.UG.FTS.B,

29.49%,

12/13/24

.

164

163

991408790.UG.FTS.B,

29.49%,

12/13/24

.

81

80

991413139.UG.FTS.B,

29.49%,

12/13/24

.

135

9

991448392.UG.FTS.B,

29.49%,

12/13/24

.

54

8

991455137.UG.FTS.B,

29.49%,

12/13/24

.

1,037

1,006

991455918.UG.FTS.B,

29.49%,

12/13/24

.

691

677

991275626.UG.FTS.B,

14.98%,

12/14/24

.

158

156

991249792.UG.FTS.B,

15.97%,

12/14/24

.

7,292

7,199

991254435.UG.FTS.B,

15.97%,

12/14/24

.

739

729

991260855.UG.FTS.B,

15.97%,

12/14/24

.

1,065

1,086

991342819.UG.FTS.B,

15.97%,

12/14/24

.

365

360

991486964.UG.FTS.B,

15.97%,

12/14/24

.

9

9

991258056.UG.FTS.B,

16.99%,

12/14/24

.

360

356

991247813.UG.FTS.B,

17.99%,

12/14/24

.

745

739

991248746.UG.FTS.B,

17.99%,

12/14/24

.

489

480

991258141.UG.FTS.B,

17.99%,

12/14/24

.

–

–

991324331.UG.FTS.B,

17.99%,

12/14/24

.

510

516

991363687.UG.FTS.B,

17.99%,

12/14/24

.

772

762

991249707.UG.FTS.B,

19.8%,

12/14/24

..

6,485

6,585

991259967.UG.FTS.B,

23.95%,

12/14/24

.

812

818

991284978.UG.FTS.B,

Zero

Cpn,

12/15/24

111

–

991285781.UG.FTS.B,

Zero

Cpn,

12/15/24

500

–

991311311.UG.FTS.B,

Zero

Cpn,

12/15/24

41

–

991267867.UG.FTS.B,

14.98%,

12/15/24

.

8,453

8,617

991305580.UG.FTS.B,

14.98%,

12/15/24

.

318

321

991375848.UG.FTS.B,

14.98%,

12/15/24

.

284

289

991392911.UG.FTS.B,

14.98%,

12/15/24

.

579

569

991254505.UG.FTS.B,

15%,

12/15/24

....

4,395

307

991302263.UG.FTS.B,

15%,

12/15/24

....

96

67

991274754.UG.FTS.B,

15.97%,

12/15/24

.

5,445

5,554

991284084.UG.FTS.B,

15.97%,

12/15/24

.

1,075

1,097

991289456.UG.FTS.B,

15.97%,

12/15/24

.

767

758

991330128.UG.FTS.B,

15.97%,

12/15/24

.

55

56

991377094.UG.FTS.B,

15.97%,

12/15/24

.

67

67

991474590.UG.FTS.B,

15.97%,

12/15/24

.

152

152

991481298.UG.FTS.B,

15.97%,

12/15/24

.

223

220

991484132.UG.FTS.B,

15.97%,

12/15/24

.

2,974

2,926

991255967.UG.FTS.B,

16.99%,

12/15/24

.

967

986

991265175.UG.FTS.B,

16.99%,

12/15/24

.

727

715

991272143.UG.FTS.B,

16.99%,

12/15/24

.

150

153

991276679.UG.FTS.B,

16.99%,

12/15/24

.

1,155

1,173

991343012.UG.FTS.B,

16.99%,

12/15/24

.

182

186

991371940.UG.FTS.B,

16.99%,

12/15/24

.

948

966

991378418.UG.FTS.B,

16.99%,

12/15/24

.

282

287

991448680.UG.FTS.B,

16.99%,

12/15/24

.

202

205

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991256520.UG.FTS.B,

17.99%,

12/15/24

.

$

377

$

384

991258859.UG.FTS.B,

17.99%,

12/15/24

.

783

777

991290002.UG.FTS.B,

17.99%,

12/15/24

.

201

204

991330365.UG.FTS.B,

17.99%,

12/15/24

.

19

19

991341386.UG.FTS.B,

17.99%,

12/15/24

.

2,121

2,161

991355135.UG.FTS.B,

17.99%,

12/15/24

.

786

801

991399127.UG.FTS.B,

17.99%,

12/15/24

.

846

862

991425011.UG.FTS.B,

17.99%,

12/15/24

.

234

237

991447470.UG.FTS.B,

17.99%,

12/15/24

.

422

427

991447659.UG.FTS.B,

17.99%,

12/15/24

.

4,219

4,269

991279058.UG.FTS.B,

18.8%,

12/15/24

..

1,077

1,094

991286797.UG.FTS.B,

18.8%,

12/15/24

..

95

96

991383149.UG.FTS.B,

18.97%,

12/15/24

.

1,047

1,065

991405120.UG.FTS.B,

18.97%,

12/15/24

.

650

661

991255584.UG.FTS.B,

19.21%,

12/15/24

.

65

65

991256556.UG.FTS.B,

19.21%,

12/15/24

.

2,783

2,726

991276150.UG.FTS.B,

19.21%,

12/15/24

.

4,734

(5)

991311986.UG.FTS.B,

19.21%,

12/15/24

.

259

264

991313442.UG.FTS.B,

19.21%,

12/15/24

.

152

155

991368030.UG.FTS.B,

19.21%,

12/15/24

.

244

243

991441309.UG.FTS.B,

19.21%,

12/15/24

.

12

12

991484626.UG.FTS.B,

19.21%,

12/15/24

.

2,447

2,463

991285230.UG.FTS.B,

19.8%,

12/15/24

..

4,831

4,755

991409003.UG.FTS.B,

19.8%,

12/15/24

..

271

275

991325674.UG.FTS.B,

20.46%,

12/15/24

.

32

32

991327950.UG.FTS.B,

20.46%,

12/15/24

.

33

33

991399222.UG.FTS.B,

20.46%,

12/15/24

.

3,405

3,456

991454535.UG.FTS.B,

20.46%,

12/15/24

.

445

448

991264730.UG.FTS.B,

20.97%,

12/15/24

.

300

301

991274850.UG.FTS.B,

20.97%,

12/15/24

.

983

69

991296368.UG.FTS.B,

20.97%,

12/15/24

.

97

98

991299292.UG.FTS.B,

20.97%,

12/15/24

.

–

–

991341925.UG.FTS.B,

20.97%,

12/15/24

.

317

321

991359143.UG.FTS.B,

20.97%,

12/15/24

.

256

260

991415618.UG.FTS.B,

20.97%,

12/15/24

.

481

487

991256653.UG.FTS.B,

21.46%,

12/15/24

.

277

280

991272818.UG.FTS.B,

21.46%,

12/15/24

.

1,214

1,207

991331221.UG.FTS.B,

21.46%,

12/15/24

.

245

248

991354178.UG.FTS.B,

21.46%,

12/15/24

.

22

22

991378826.UG.FTS.B,

21.46%,

12/15/24

.

265

31

991382200.UG.FTS.B,

21.46%,

12/15/24

.

2,623

2,571

991407709.UG.FTS.B,

21.46%,

12/15/24

.

1,406

1,399

991255531.UG.FTS.B,

21.98%,

12/15/24

.

429

421

991258541.UG.FTS.B,

21.98%,

12/15/24

.

3,980

4,015

991395285.UG.FTS.B,

21.98%,

12/15/24

.

157

160

991432369.UG.FTS.B,

22.95%,

12/15/24

.

23

23

991259405.UG.FTS.B,

22.97%,

12/15/24

.

1,550

1,506

991296657.UG.FTS.B,

23.95%,

12/15/24

.

668

665

991308871.UG.FTS.B,

23.95%,

12/15/24

.

84

85

991333904.UG.FTS.B,

23.95%,

12/15/24

.

83

82

991395863.UG.FTS.B,

23.95%,

12/15/24

.

673

141

991315745.UG.FTS.B,

25.95%,

12/15/24

.

300

302

991459249.UG.FTS.B,

25.95%,

12/15/24

.

404

402

991291093.UG.FTS.B,

26.94%,

12/15/24

.

304

305

991272449.UG.FTS.B,

14.98%,

12/16/24

.

363

359

991307103.UG.FTS.B,

14.98%,

12/16/24

.

578

571

991310091.UG.FTS.B,

14.98%,

12/16/24

.

2,644

2,609

991418120.UG.FTS.B,

14.98%,

12/16/24

.

174

108

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

352

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991478310.UG.FTS.B,

14.98%,

12/16/24

.

$

250

$

246

991261176.UG.FTS.B,

15%,

12/16/24

....

384

379

991298521.UG.FTS.B,

15%,

12/16/24

....

96

95

991299064.UG.FTS.B,

15%,

12/16/24

....

5,910

5,839

991324569.UG.FTS.B,

15%,

12/16/24

....

–

–

991375810.UG.FTS.B,

15%,

12/16/24

....

113

111

991391018.UG.FTS.B,

15%,

12/16/24

....

841

830

991433211.UG.FTS.B,

15%,

12/16/24

....

55

54

991263041.UG.FTS.B,

15.97%,

12/16/24

.

313

309

991286205.UG.FTS.B,

15.97%,

12/16/24

.

5,932

5,865

991328330.UG.FTS.B,

15.97%,

12/16/24

.

4,134

2,517

991350536.UG.FTS.B,

15.97%,

12/16/24

.

96

94

991351707.UG.FTS.B,

15.97%,

12/16/24

.

62

62

991352797.UG.FTS.B,

15.97%,

12/16/24

.

1,272

1,258

991440360.UG.FTS.B,

15.97%,

12/16/24

.

841

831

991260311.UG.FTS.B,

16.99%,

12/16/24

.

400

395

991260873.UG.FTS.B,

16.99%,

12/16/24

.

1,108

1,095

991260935.UG.FTS.B,

16.99%,

12/16/24

.

587

580

991263408.UG.FTS.B,

16.99%,

12/16/24

.

647

636

991268582.UG.FTS.B,

16.99%,

12/16/24

.

1,389

849

991277345.UG.FTS.B,

16.99%,

12/16/24

.

1,701

1,680

991293334.UG.FTS.B,

16.99%,

12/16/24

.

3,857

705

991298844.UG.FTS.B,

16.99%,

12/16/24

.

1,697

1,677

991312007.UG.FTS.B,

16.99%,

12/16/24

.

151

149

991331384.UG.FTS.B,

16.99%,

12/16/24

.

848

838

991381398.UG.FTS.B,

16.99%,

12/16/24

.

1,268

1,253

991428763.UG.FTS.B,

16.99%,

12/16/24

.

49

48

991481672.UG.FTS.B,

16.99%,

12/16/24

.

468

460

991265216.UG.FTS.B,

17.97%,

12/16/24

.

55

54

991402557.UG.FTS.B,

17.97%,

12/16/24

.

66

5

991464460.UG.FTS.B,

17.97%,

12/16/24

.

209

23

991263277.UG.FTS.B,

17.99%,

12/16/24

.

831

820

991268191.UG.FTS.B,

17.99%,

12/16/24

.

1,700

1,678

991274621.UG.FTS.B,

17.99%,

12/16/24

.

67

66

991282278.UG.FTS.B,

17.99%,

12/16/24

.

405

398

991291197.UG.FTS.B,

17.99%,

12/16/24

.

2,375

2,344

991294899.UG.FTS.B,

17.99%,

12/16/24

.

290

33

991342380.UG.FTS.B,

17.99%,

12/16/24

.

112

13

991367812.UG.FTS.B,

17.99%,

12/16/24

.

260

256

991382759.UG.FTS.B,

17.99%,

12/16/24

.

5

5

991392067.UG.FTS.B,

17.99%,

12/16/24

.

626

618

991423168.UG.FTS.B,

17.99%,

12/16/24

.

1,035

1,022

991505430.UG.FTS.B,

17.99%,

12/16/24

.

266

30

991283562.UG.FTS.B,

18.97%,

12/16/24

.

148

145

991288835.UG.FTS.B,

18.97%,

12/16/24

.

809

798

991320987.UG.FTS.B,

21.46%,

12/16/24

.

1,298

1,272

991339363.UG.FTS.B,

21.46%,

12/16/24

.

183

178

991279499.UG.FTS.B,

21.98%,

12/16/24

.

380

372

991324832.UG.FTS.B,

21.98%,

12/16/24

.

248

242

991515407.UG.FTS.B,

21.98%,

12/16/24

.

254

248

991513641.UG.FTS.B,

23.95%,

12/16/24

.

336

326

991275726.UG.FTS.B,

25.95%,

12/16/24

.

505

496

991273394.UG.FTS.B,

Zero

Cpn,

12/17/24

322

–

991276341.UG.FTS.B,

Zero

Cpn,

12/17/24

190

–

991288321.UG.FTS.B,

Zero

Cpn,

12/17/24

243

–

991300115.UG.FTS.B,

14.97%,

12/17/24

.

1,871

1,848

991270332.UG.FTS.B,

14.98%,

12/17/24

.

405

400

991398838.UG.FTS.B,

14.98%,

12/17/24

.

2,522

2,491

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991309883.UG.FTS.B,

15%,

12/17/24

....

$

291

$

286

991366785.UG.FTS.B,

15%,

12/17/24

....

97

96

991473570.UG.FTS.B,

15%,

12/17/24

....

460

452

991300360.UG.FTS.B,

15.97%,

12/17/24

.

0

0

991333878.UG.FTS.B,

15.97%,

12/17/24

.

4,069

4,020

991346434.UG.FTS.B,

15.97%,

12/17/24

.

6,518

6,445

991465779.UG.FTS.B,

15.97%,

12/17/24

.

420

413

991471407.UG.FTS.B,

15.97%,

12/17/24

.

145

143

991515245.UG.FTS.B,

15.97%,

12/17/24

.

669

658

991517884.UG.FTS.B,

15.97%,

12/17/24

.

241

237

991277408.UG.FTS.B,

16.99%,

12/17/24

.

1,701

1,681

991289176.UG.FTS.B,

16.99%,

12/17/24

.

3,664

3,603

991303485.UG.FTS.B,

16.99%,

12/17/24

.

210

208

991304516.UG.FTS.B,

16.99%,

12/17/24

.

1,558

1,539

991313589.UG.FTS.B,

16.99%,

12/17/24

.

2,050

2,026

991385756.UG.FTS.B,

16.99%,

12/17/24

.

1,254

1,239

991415822.UG.FTS.B,

16.99%,

12/17/24

.

1,092

1,079

991427457.UG.FTS.B,

16.99%,

12/17/24

.

137

135

991438848.UG.FTS.B,

16.99%,

12/17/24

.

5,392

5,326

991289039.UG.FTS.B,

17.99%,

12/17/24

.

603

596

991301102.UG.FTS.B,

17.99%,

12/17/24

.

173

171

991399977.UG.FTS.B,

17.99%,

12/17/24

.

1,412

1,392

991401151.UG.FTS.B,

17.99%,

12/17/24

.

295

291

991472819.UG.FTS.B,

17.99%,

12/17/24

.

814

800

991473499.UG.FTS.B,

17.99%,

12/17/24

.

342

24

991271752.UG.FTS.B,

18.97%,

12/17/24

.

124

123

991275357.UG.FTS.B,

18.97%,

12/17/24

.

716

706

991320351.UG.FTS.B,

18.97%,

12/17/24

.

340

335

991355050.UG.FTS.B,

18.97%,

12/17/24

.

118

117

991447451.UG.FTS.B,

18.97%,

12/17/24

.

75

74

991451584.UG.FTS.B,

18.97%,

12/17/24

.

885

868

991500213.UG.FTS.B,

18.97%,

12/17/24

.

213

15

991319714.UG.FTS.B,

19.21%,

12/17/24

.

322

316

991368537.UG.FTS.B,

19.21%,

12/17/24

.

140

138

991390886.UG.FTS.B,

19.21%,

12/17/24

.

425

419

991416998.UG.FTS.B,

19.21%,

12/17/24

.

509

502

991425383.UG.FTS.B,

19.21%,

12/17/24

.

230

226

991287274.UG.FTS.B,

19.8%,

12/17/24

..

405

399

991304857.UG.FTS.B,

19.8%,

12/17/24

..

22

22

991345459.UG.FTS.B,

19.8%,

12/17/24

..

1,707

1,681

991346528.UG.FTS.B,

19.8%,

12/17/24

..

493

34

991370788.UG.FTS.B,

19.8%,

12/17/24

..

2,658

2,616

991382959.UG.FTS.B,

19.8%,

12/17/24

..

99

97

991407951.UG.FTS.B,

19.8%,

12/17/24

..

851

837

991523409.UG.FTS.B,

19.8%,

12/17/24

..

10,132

9,914

991278450.UG.FTS.B,

20.46%,

12/17/24

.

222

219

991307115.UG.FTS.B,

20.46%,

12/17/24

.

20

20

991488102.UG.FTS.B,

20.46%,

12/17/24

.

717

701

991497562.UG.FTS.B,

20.46%,

12/17/24

.

65

64

991274898.UG.FTS.B,

20.97%,

12/17/24

.

545

535

991275980.UG.FTS.B,

20.97%,

12/17/24

.

853

837

991276358.UG.FTS.B,

20.97%,

12/17/24

.

4,276

4,203

991279256.UG.FTS.B,

20.97%,

12/17/24

.

168

165

991407610.UG.FTS.B,

20.97%,

12/17/24

.

28

27

991436506.UG.FTS.B,

20.97%,

12/17/24

.

176

12

991272065.UG.FTS.B,

21.46%,

12/17/24

.

638

625

991312825.UG.FTS.B,

21.46%,

12/17/24

.

506

316

991382185.UG.FTS.B,

21.46%,

12/17/24

.

77

75

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

353

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991437221.UG.FTS.B,

21.46%,

12/17/24

.

$

977

$

951

991480986.UG.FTS.B,

21.46%,

12/17/24

.

24

24

991500619.UG.FTS.B,

21.46%,

12/17/24

.

22

22

991523739.UG.FTS.B,

21.46%,

12/17/24

.

277

19

991284857.UG.FTS.B,

21.98%,

12/17/24

.

229

224

991285593.UG.FTS.B,

21.98%,

12/17/24

.

259

254

991342863.UG.FTS.B,

21.98%,

12/17/24

.

76

10

991406788.UG.FTS.B,

21.98%,

12/17/24

.

41

40

991426127.UG.FTS.B,

21.98%,

12/17/24

.

217

211

991499186.UG.FTS.B,

21.98%,

12/17/24

.

329

320

991369836.UG.FTS.B,

22.97%,

12/17/24

.

599

587

991477839.UG.FTS.B,

22.97%,

12/17/24

.

1,698

1,650

991309689.UG.FTS.B,

25.95%,

12/17/24

.

146

142

991440658.UG.FTS.B,

25.95%,

12/17/24

.

701

48

991470281.UG.FTS.B,

Zero

Cpn,

12/18/24

341

–

991279257.UG.FTS.B,

14%,

12/18/24

....

414

410

991358540.UG.FTS.B,

14.98%,

12/18/24

.

731

723

991471788.UG.FTS.B,

14.98%,

12/18/24

.

468

460

991525181.UG.FTS.B,

14.98%,

12/18/24

.

93

92

991309210.UG.FTS.B,

15.97%,

12/18/24

.

1,652

1,634

991375440.UG.FTS.B,

15.97%,

12/18/24

.

151

150

991449829.UG.FTS.B,

15.97%,

12/18/24

.

308

305

991459870.UG.FTS.B,

15.97%,

12/18/24

.

24

24

991284992.UG.FTS.B,

15.99%,

12/18/24

.

876

866

991298134.UG.FTS.B,

15.99%,

12/18/24

.

400

395

991303430.UG.FTS.B,

16.99%,

12/18/24

.

24

24

991374578.UG.FTS.B,

16.99%,

12/18/24

.

177

175

991440813.UG.FTS.B,

16.99%,

12/18/24

.

421

416

991507545.UG.FTS.B,

16.99%,

12/18/24

.

265

261

991515439.UG.FTS.B,

16.99%,

12/18/24

.

20

20

991278964.UG.FTS.B,

17.99%,

12/18/24

.

78

78

991280230.UG.FTS.B,

17.99%,

12/18/24

.

186

184

991284677.UG.FTS.B,

17.99%,

12/18/24

.

109

108

991284750.UG.FTS.B,

17.99%,

12/18/24

.

1,578

1,559

991287433.UG.FTS.B,

17.99%,

12/18/24

.

815

804

991288626.UG.FTS.B,

17.99%,

12/18/24

.

609

42

991322304.UG.FTS.B,

17.99%,

12/18/24

.

415

410

991329588.UG.FTS.B,

17.99%,

12/18/24

.

1,530

1,512

991333195.UG.FTS.B,

17.99%,

12/18/24

.

847

836

991343423.UG.FTS.B,

17.99%,

12/18/24

.

1,489

1,470

991345292.UG.FTS.B,

17.99%,

12/18/24

.

4,675

4,618

991383776.UG.FTS.B,

17.99%,

12/18/24

.

24

24

991478169.UG.FTS.B,

17.99%,

12/18/24

.

5,481

5,386

991493847.UG.FTS.B,

17.99%,

12/18/24

.

843

828

991517094.UG.FTS.B,

17.99%,

12/18/24

.

141

138

991279331.UG.FTS.B,

18.97%,

12/18/24

.

394

45

991283131.UG.FTS.B,

18.97%,

12/18/24

.

707

697

991341264.UG.FTS.B,

18.97%,

12/18/24

.

320

316

991362772.UG.FTS.B,

18.97%,

12/18/24

.

3,251

3,191

991381190.UG.FTS.B,

18.97%,

12/18/24

.

217

214

991290938.UG.FTS.B,

19.21%,

12/18/24

.

2,667

2,613

991292756.UG.FTS.B,

19.21%,

12/18/24

.

459

453

991340064.UG.FTS.B,

19.21%,

12/18/24

.

171

168

991353959.UG.FTS.B,

19.21%,

12/18/24

.

374

369

991362195.UG.FTS.B,

19.21%,

12/18/24

.

249

244

991382058.UG.FTS.B,

19.21%,

12/18/24

.

851

839

991408472.UG.FTS.B,

19.21%,

12/18/24

.

850

838

991289268.UG.FTS.B,

19.8%,

12/18/24

..

64

63

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991324176.UG.FTS.B,

19.8%,

12/18/24

..

$

231

$

228

991341435.UG.FTS.B,

19.8%,

12/18/24

..

470

462

991280824.UG.FTS.B,

20.46%,

12/18/24

.

260

255

991283729.UG.FTS.B,

20.46%,

12/18/24

.

188

185

991355888.UG.FTS.B,

20.46%,

12/18/24

.

3,873

3,772

991279501.UG.FTS.B,

20.97%,

12/18/24

.

982

965

991278889.UG.FTS.B,

21.46%,

12/18/24

.

1,683

(16)

991283292.UG.FTS.B,

21.46%,

12/18/24

.

730

716

991286343.UG.FTS.B,

21.46%,

12/18/24

.

2,056

2,017

991286922.UG.FTS.B,

21.46%,

12/18/24

.

925

902

991289340.UG.FTS.B,

21.46%,

12/18/24

.

312

306

991291065.UG.FTS.B,

21.46%,

12/18/24

.

258

253

991367106.UG.FTS.B,

21.46%,

12/18/24

.

756

736

991448673.UG.FTS.B,

21.46%,

12/18/24

.

2,735

2,663

991284313.UG.FTS.B,

22.97%,

12/18/24

.

221

15

991300398.UG.FTS.B,

23.95%,

12/18/24

.

539

528

991316123.UG.FTS.B,

23.95%,

12/18/24

.

585

572

991427404.UG.FTS.B,

23.95%,

12/18/24

.

783

760

991295932.UG.FTS.B,

Zero

Cpn,

12/19/24

750

–

991467666.UG.FTS.B,

Zero

Cpn,

12/19/24

166

–

991434441.UG.FTS.B,

14.97%,

12/19/24

.

71

71

991287107.UG.FTS.B,

14.98%,

12/19/24

.

410

405

991292210.UG.FTS.B,

14.98%,

12/19/24

.

21

20

991344193.UG.FTS.B,

14.98%,

12/19/24

.

62

61

991417238.UG.FTS.B,

14.98%,

12/19/24

.

6,919

6,801

991431975.UG.FTS.B,

14.98%,

12/19/24

.

457

449

991340137.UG.FTS.B,

15%,

12/19/24

....

337

333

991418698.UG.FTS.B,

15%,

12/19/24

....

221

218

991292407.UG.FTS.B,

15.97%,

12/19/24

.

171

169

991339453.UG.FTS.B,

15.97%,

12/19/24

.

298

295

991446289.UG.FTS.B,

15.97%,

12/19/24

.

628

621

991484317.UG.FTS.B,

15.97%,

12/19/24

.

–

–

991511356.UG.FTS.B,

15.97%,

12/19/24

.

781

769

991289920.UG.FTS.B,

16.99%,

12/19/24

.

433

428

991351714.UG.FTS.B,

16.99%,

12/19/24

.

1,518

1,498

991489325.UG.FTS.B,

16.99%,

12/19/24

.

140

137

991290102.UG.FTS.B,

17.99%,

12/19/24

.

1,018

70

991345403.UG.FTS.B,

17.99%,

12/19/24

.

405

29

991349861.UG.FTS.B,

17.99%,

12/19/24

.

49

49

991437838.UG.FTS.B,

17.99%,

12/19/24

.

6,344

6,266

991469894.UG.FTS.B,

17.99%,

12/19/24

.

363

357

991348742.UG.FTS.B,

18.97%,

12/19/24

.

159

157

991493639.UG.FTS.B,

18.97%,

12/19/24

.

494

485

991319900.UG.FTS.B,

19.21%,

12/19/24

.

337

332

991332205.UG.FTS.B,

19.21%,

12/19/24

.

256

253

991496455.UG.FTS.B,

19.21%,

12/19/24

.

423

414

991329516.UG.FTS.B,

19.8%,

12/19/24

..

357

352

991482107.UG.FTS.B,

19.8%,

12/19/24

..

186

182

991490644.UG.FTS.B,

19.8%,

12/19/24

..

166

163

991502273.UG.FTS.B,

19.8%,

12/19/24

..

82

81

991308753.UG.FTS.B,

20.46%,

12/19/24

.

922

907

991454147.UG.FTS.B,

20.46%,

12/19/24

.

132

129

991465738.UG.FTS.B,

20.46%,

12/19/24

.

255

251

991533128.UG.FTS.B,

20.46%,

12/19/24

.

845

827

991395795.UG.FTS.B,

20.97%,

12/19/24

.

1,130

1,103

991488666.UG.FTS.B,

20.97%,

12/19/24

.

62

8

991312216.UG.FTS.B,

21.46%,

12/19/24

.

399

392

991382866.UG.FTS.B,

21.46%,

12/19/24

.

600

589

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

354

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991414054.UG.FTS.B,

21.46%,

12/19/24

.

$

28

$

28

991533752.UG.FTS.B,

21.46%,

12/19/24

.

848

825

991294927.UG.FTS.B,

21.98%,

12/19/24

.

519

510

991307874.UG.FTS.B,

21.98%,

12/19/24

.

26

25

991454608.UG.FTS.B,

21.98%,

12/19/24

.

924

907

991300238.UG.FTS.B,

22.97%,

12/19/24

.

17

1

991323238.UG.FTS.B,

22.97%,

12/19/24

.

149

11

991376100.UG.FTS.B,

22.97%,

12/19/24

.

7

7

991465503.UG.FTS.B,

22.97%,

12/19/24

.

246

17

991295352.UG.FTS.B,

23.95%,

12/19/24

.

439

429

991407037.UG.FTS.B,

26.94%,

12/19/24

.

61

60

991494610.UG.FTS.B,

26.94%,

12/19/24

.

63

61

991305234.UG.FTS.B,

Zero

Cpn,

12/20/24

155

–

991328367.UG.FTS.B,

14.98%,

12/20/24

.

308

303

991407126.UG.FTS.B,

14.98%,

12/20/24

.

1,188

1,175

991449461.UG.FTS.B,

14.98%,

12/20/24

.

45

44

991296195.UG.FTS.B,

15%,

12/20/24

....

689

682

991308970.UG.FTS.B,

15%,

12/20/24

....

156

154

991333020.UG.FTS.B,

15%,

12/20/24

....

1,520

1,502

991380303.UG.FTS.B,

15%,

12/20/24

....

1,095

1,082

991478164.UG.FTS.B,

15%,

12/20/24

....

44

44

991295998.UG.FTS.B,

15.97%,

12/20/24

.

324

320

991305601.UG.FTS.B,

15.97%,

12/20/24

.

371

366

991313938.UG.FTS.B,

15.97%,

12/20/24

.

0

0

991313978.UG.FTS.B,

15.97%,

12/20/24

.

581

574

991323450.UG.FTS.B,

15.97%,

12/20/24

.

430

425

991348628.UG.FTS.B,

15.97%,

12/20/24

.

991

980

991365579.UG.FTS.B,

15.97%,

12/20/24

.

2,608

2,580

991375709.UG.FTS.B,

15.97%,

12/20/24

.

291

288

991408541.UG.FTS.B,

15.97%,

12/20/24

.

457

278

991457206.UG.FTS.B,

15.97%,

12/20/24

.

1,261

1,247

991463713.UG.FTS.B,

15.97%,

12/20/24

.

457

450

991504029.UG.FTS.B,

15.97%,

12/20/24

.

839

826

991303719.UG.FTS.B,

16.47%,

12/20/24

.

294

291

991303599.UG.FTS.B,

16.99%,

12/20/24

.

1,807

1,786

991310742.UG.FTS.B,

16.99%,

12/20/24

.

251

247

991318810.UG.FTS.B,

16.99%,

12/20/24

.

6

6

991350184.UG.FTS.B,

16.99%,

12/20/24

.

642

634

991371806.UG.FTS.B,

16.99%,

12/20/24

.

1,694

1,675

991380031.UG.FTS.B,

16.99%,

12/20/24

.

377

374

991423752.UG.FTS.B,

16.99%,

12/20/24

.

213

211

991440844.UG.FTS.B,

16.99%,

12/20/24

.

5,191

5,126

991458324.UG.FTS.B,

16.99%,

12/20/24

.

660

652

991521970.UG.FTS.B,

16.99%,

12/20/24

.

170

167

991298267.UG.FTS.B,

17.97%,

12/20/24

.

853

842

991330064.UG.FTS.B,

17.97%,

12/20/24

.

132

131

991304140.UG.FTS.B,

17.99%,

12/20/24

.

366

362

991310930.UG.FTS.B,

17.99%,

12/20/24

.

622

614

991317505.UG.FTS.B,

17.99%,

12/20/24

.

72

71

991346525.UG.FTS.B,

17.99%,

12/20/24

.

1,276

1,261

991349664.UG.FTS.B,

17.99%,

12/20/24

.

227

225

991455309.UG.FTS.B,

17.99%,

12/20/24

.

215

213

991490847.UG.FTS.B,

17.99%,

12/20/24

.

43

43

991512531.UG.FTS.B,

17.99%,

12/20/24

.

115

114

991515123.UG.FTS.B,

17.99%,

12/20/24

.

1,685

1,656

991311525.UG.FTS.B,

18.97%,

12/20/24

.

837

827

991320561.UG.FTS.B,

18.97%,

12/20/24

.

435

433

991327245.UG.FTS.B,

18.97%,

12/20/24

.

312

307

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991332300.UG.FTS.B,

18.97%,

12/20/24

.

$

1,053

$

1,038

991365096.UG.FTS.B,

18.97%,

12/20/24

.

170

168

991372915.UG.FTS.B,

18.97%,

12/20/24

.

49

49

991381262.UG.FTS.B,

18.97%,

12/20/24

.

135

84

991303703.UG.FTS.B,

19.21%,

12/20/24

.

620

43

991316528.UG.FTS.B,

19.21%,

12/20/24

.

678

669

991346830.UG.FTS.B,

19.21%,

12/20/24

.

987

68

991422168.UG.FTS.B,

19.21%,

12/20/24

.

5,688

3,580

991425928.UG.FTS.B,

19.46%,

12/20/24

.

181

178

991305111.UG.FTS.B,

19.8%,

12/20/24

..

1,660

1,634

991309911.UG.FTS.B,

19.8%,

12/20/24

..

1,436

1,414

991329135.UG.FTS.B,

19.8%,

12/20/24

..

8,296

8,166

991331225.UG.FTS.B,

19.8%,

12/20/24

..

370

366

991386835.UG.FTS.B,

19.8%,

12/20/24

..

18

18

991415873.UG.FTS.B,

19.8%,

12/20/24

..

1,703

1,678

991437993.UG.FTS.B,

19.8%,

12/20/24

..

4,250

4,186

991523134.UG.FTS.B,

19.8%,

12/20/24

..

8,342

8,163

991340100.UG.FTS.B,

20.46%,

12/20/24

.

8,571

8,438

991399925.UG.FTS.B,

20.46%,

12/20/24

.

427

420

991408989.UG.FTS.B,

20.46%,

12/20/24

.

5,136

(30)

991518437.UG.FTS.B,

20.46%,

12/20/24

.

309

302

991305036.UG.FTS.B,

21.46%,

12/20/24

.

300

294

991352757.UG.FTS.B,

21.46%,

12/20/24

.

254

249

991390941.UG.FTS.B,

21.46%,

12/20/24

.

2,279

1,457

991447864.UG.FTS.B,

21.46%,

12/20/24

.

219

215

991526785.UG.FTS.B,

21.46%,

12/20/24

.

421

410

991486110.UG.FTS.B,

21.98%,

12/20/24

.

97

96

991366863.UG.FTS.B,

22.95%,

12/20/24

.

38

37

991413622.UG.FTS.B,

26.94%,

12/20/24

.

340

–

991448119.UG.FTS.B,

26.94%,

12/20/24

.

155

152

991462514.UG.FTS.B,

Zero

Cpn,

12/21/24

244

–

991438242.UG.FTS.B,

15.97%,

12/21/24

.

337

333

991480124.UG.FTS.B,

15.97%,

12/21/24

.

15

15

991457248.UG.FTS.B,

16.99%,

12/21/24

.

126

125

991471096.UG.FTS.B,

16.99%,

12/21/24

.

1,260

1,254

991484651.UG.FTS.B,

16.99%,

12/21/24

.

674

663

991495192.UG.FTS.B,

16.99%,

12/21/24

.

2,105

2,070

991523565.UG.FTS.B,

16.99%,

12/21/24

.

1,738

1,709

991505343.UG.FTS.B,

17.99%,

12/21/24

.

337

332

991472171.UG.FTS.B,

18.97%,

12/21/24

.

307

304

991454428.UG.FTS.B,

19.8%,

12/21/24

..

1,519

1,494

991495748.UG.FTS.B,

19.8%,

12/21/24

..

1,234

1,208

991520646.UG.FTS.B,

19.8%,

12/21/24

..

111

110

991459030.UG.FTS.B,

21.46%,

12/21/24

.

1,558

1,529

991520568.UG.FTS.B,

21.98%,

12/21/24

.

171

166

991039478.UG.FTS.B,

16.99%,

1/09/25

..

1,233

790

991031280.UG.FTS.B,

28.98%,

1/09/25

..

149

153

991087041.UG.FTS.B,

Zero

Cpn,

1/17/25

.

173

12

991163092.UG.FTS.B,

Zero

Cpn,

1/21/25

.

122

–

991210095.UG.FTS.B,

29.49%,

1/22/25

..

22

22

991338381.UG.FTS.B,

16.99%,

2/09/25

..

401

245

991020944.UG.FTS.B,

15.99%,

11/08/26

.

3,670

3,647

991034634.UG.FTS.B,

16.99%,

11/08/26

.

1,499

1,490

991036341.UG.FTS.B,

21.99%,

11/11/26

.

1,558

294

991074802.UG.FTS.B,

22.36%,

11/11/26

.

8,082

8,201

991130326.UG.FTS.B,

22.36%,

11/11/26

..

627

640

991215907.UG.FTS.B,

16.99%,

11/12/26

.

1,815

1,791

991108685.UG.FTS.B,

18.98%,

11/13/26

.

1,131

1,125

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

355

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991115683.UG.FTS.B,

18.98%,

11/13/26

..

$

2,720

$

2,706

991164893.UG.FTS.B,

19.99%,

11/15/26

.

588

578

991087378.UG.FTS.B,

21.36%,

11/15/26

.

740

735

991415270.UG.FTS.B,

16.99%,

12/06/26

.

524

534

991226691.UG.FTS.B,

15.99%,

12/09/26

.

308

316

991249712.UG.FTS.B,

15.99%,

12/09/26

.

3,848

3,922

991213502.UG.FTS.B,

16.99%,

12/09/26

.

1,883

1,937

991381018.UG.FTS.B,

16.99%,

12/09/26

.

4,607

4,573

991060406.UG.FTS.B,

21.98%,

12/09/26

.

–

–

991051478.UG.FTS.B,

29.49%,

12/09/26

.

–

–

991063796.UG.FTS.B,

29.49%,

12/09/26

.

–

–

991185045.UG.FTS.B,

29.49%,

12/09/26

.

–

–

991356469.UG.FTS.B,

16.99%,

12/10/26

.

363

358

991037654.UG.FTS.B,

21.48%,

12/10/26

.

–

–

991265247.UG.FTS.B,

16.99%,

12/12/26

.

510

520

991243878.UG.FTS.B,

21.99%,

12/12/26

.

2,368

448

991359359.UG.FTS.B,

15.99%,

12/14/26

.

862

883

991467528.UG.FTS.B,

15.99%,

12/14/26

.

516

524

991258909.UG.FTS.B,

16.99%,

12/14/26

.

1,102

1,126

991280209.UG.FTS.B,

16.99%,

12/14/26

.

2,538

2,609

991292205.UG.FTS.B,

18.98%,

12/14/26

.

1,003

1,022

991376120.UG.FTS.B,

16.99%,

12/15/26

.

1,001

987

991469109.UG.FTS.B,

18.98%,

12/15/26

.

821

809

991252665.UG.FTS.B,

20.47%,

12/15/26

.

–

–

991489034.UG.FTS.B,

21.99%,

12/15/26

.

301

166

991263485.UG.FTS.B,

16.99%,

12/16/26

.

199

198

991295536.UG.FTS.B,

22.67%,

12/16/26

.

9,622

666

991200765.UG.FTS.B,

15%,

12/17/26

....

–

–

991329891.UG.FTS.B,

16.99%,

12/17/26

.

1,010

993

991208263.UG.FTS.B,

29.49%,

12/17/26

.

–

–

991281352.UG.FTS.B,

22.36%,

12/18/26

.

2,392

2,370

991075433.UG.FTS.B,

28.48%,

12/18/26

.

–

–

991171033.UG.FTS.B,

29.49%,

12/18/26

.

–

–

991295802.UG.FTS.B,

20.46%,

12/19/26

.

–

–

991326633.UG.FTS.B,

21.99%,

12/19/26

.

832

825

991389147.UG.FTS.B,

22.36%,

12/19/26

.

227

221

991110003.UG.FTS.B,

28.98%,

12/19/26

.

–

–

991297918.UG.FTS.B,

Zero

Cpn,

12/20/26

350

–

991311624.UG.FTS.B,

Zero

Cpn,

12/20/26

76

–

991436725.UG.FTS.B,

21.99%,

12/20/26

.

176

175

991306654.UG.FTS.B,

22.36%,

12/20/26

.

15,762

15,655

991110134.UG.FTS.B,

28.98%,

12/20/26

.

–

–

991129017.UG.FTS.B,

28.98%,

12/20/26

.

–

–

991131676.UG.FTS.B,

29.48%,

12/20/26

.

–

–

991104740.UG.FTS.B,

29.49%,

12/20/26

.

–

–

991284279.UG.FTS.B,

29.49%,

12/20/26

.

–

–

991339202.UG.FTS.B,

18.71%,

12/23/26

.

–

–

991205757.UG.FTS.B,

29.49%,

12/23/26

.

–

–

991132986.UG.FTS.B,

28.98%,

12/25/26

.

–

–

991149860.UG.FTS.B,

28.98%,

12/26/26

.

–

–

991318113.UG.FTS.B,

28.98%,

12/29/26

.

–

–

991275870.UG.FTS.B,

21.98%,

1/05/27

..

–

–

991129376.UG.FTS.B,

19.99%,

1/09/27

..

–

–

991036582.UG.FTS.B,

29.49%,

1/09/27

..

–

–

991042183.UG.FTS.B,

29.49%,

1/09/27

..

–

–

991290746.UG.FTS.B,

28.48%,

1/10/27

..

–

–

991110688.UG.FTS.B,

18.97%,

1/11/27

...

–

–

991064255.UG.FTS.B,

21.48%,

1/12/27

..

–

–

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991054346.UG.FTS.B,

29.49%,

1/13/27

..

$

–

$

–

991231240.UG.FTS.B,

25.95%,

1/14/27

..

–

–

991199685.UG.FTS.B,

24.45%,

1/15/27

..

6

0

991228157.UG.FTS.B,

19.99%,

1/17/27

..

–

–

991079269.UG.FTS.B,

24.45%,

1/17/27

..

5

0

991099758.UG.FTS.B,

28.98%,

1/17/27

..

–

–

991113714.UG.FTS.B,

29.49%,

1/17/27

..

–

–

991240839.UG.FTS.B,

29.49%,

1/17/27

..

–

–

991156091.UG.FTS.B,

19.99%,

1/19/27

..

6

0

990914409.UG.FTS.B,

28.48%,

1/19/27

..

–

–

991210794.UG.FTS.B,

Zero

Cpn,

1/20/27

.

9

–

991249325.UG.FTS.B,

28.48%,

1/20/27

..

–

–

991146311.UG.FTS.B,

29.49%,

1/20/27

..

9

1

991153021.UG.FTS.B,

29.49%,

1/20/27

..

–

–

991252604.UG.FTS.B,

29.49%,

1/20/27

..

–

–

991279052.UG.FTS.B,

29.49%,

1/20/27

..

–

–

991122766.UG.FTS.B,

23.95%,

1/21/27

..

9

1

991227564.UG.FTS.B,

28.98%,

1/21/27

..

–

–

991159799.UG.FTS.B,

29.49%,

1/28/27

..

–

–

991297838.UG.FTS.B,

29.49%,

1/28/27

..

–

–

991295173.UG.FTS.B,

Zero

Cpn,

2/07/27

.

8

–

991037098.UG.FTS.B,

Zero

Cpn,

2/09/27

.

12

–

991212275.UG.FTS.B,

17.99%,

2/09/27

..

–

–

991397147.UG.FTS.B,

29.48%,

2/09/27

..

–

–

991124281.UG.FTS.B,

29.49%,

2/09/27

..

–

–

991113929.UG.FTS.B,

22.47%,

2/10/27

..

–

–

991348739.UG.FTS.B,

19.96%,

2/17/27

..

–

–

991164854.UG.FTS.B,

19.99%,

2/17/27

..

–

–

991080527.UG.FTS.B,

20.46%,

2/17/27

..

–

–

991106534.UG.FTS.B,

28.98%,

2/17/27

..

–

–

991264300.UG.FTS.B,

29.49%,

2/17/27

..

–

–

991100369.UG.FTS.B,

Zero

Cpn,

2/18/27

.

10

–

990946503.UG.FTS.B,

28.48%,

2/19/27

..

–

–

991146255.UG.FTS.B,

28.98%,

2/19/27

..

–

–

991238451.UG.FTS.B,

29.49%,

2/19/27

..

–

–

991295552.UG.FTS.B,

29.49%,

2/19/27

..

–

–

991140844.UG.FTS.B,

Zero

Cpn,

2/20/27

.

11

–

991198399.UG.FTS.B,

28.98%,

2/20/27

..

–

–

991140129.UG.FTS.B,

Zero

Cpn,

2/21/27

.

10

–

991243089.UG.FTS.B,

28.98%,

2/21/27

..

–

–

991118537.UG.FTS.B,

28.98%,

2/22/27

..

325

42

991187895.UG.FTS.B,

29.49%,

2/22/27

..

1

0

991369096.UG.FTS.B,

23.95%,

2/27/27

..

–

–

991157000.UG.FTS.B,

Zero

Cpn,

2/28/27

.

12

–

991291809.UG.FTS.B,

Zero

Cpn,

2/28/27

.

14

–

991273234.UG.FTS.B,

18.97%,

2/28/27

..

–

–

991162560.UG.FTS.B,

29.49%,

2/28/27

..

10

1

991194140.UG.FTS.B,

19.21%,

3/03/27

..

–

–

991310654.UG.FTS.B,

Zero

Cpn,

3/05/27

.

8

–

991444299.UG.FTS.B,

29.49%,

3/06/27

..

0

0

991413389.UG.FTS.B,

Zero

Cpn,

3/07/27

.

10

1

991404117.UG.FTS.B,

22.47%,

3/07/27

..

–

–

991029801.UG.FTS.B,

20.96%,

3/09/27

..

–

–

991079814.UG.FTS.B,

28.98%,

3/09/27

..

–

–

991051328.UG.FTS.B,

20.97%,

3/10/27

..

–

–

991280397.UG.FTS.B,

19.8%,

3/12/27

...

–

–

991241987.UG.FTS.B,

18.97%,

3/13/27

..

–

–

991157103.UG.FTS.B,

26.44%,

3/14/27

..

0

–

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

356

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991162735.UG.FTS.B,

Zero

Cpn,

3/17/27

.

$

10

$

–

991112337.UG.FTS.B,

28.48%,

3/17/27

..

2

0

991194730.UG.FTS.B,

28.98%,

3/17/27

..

1

0

991185545.UG.FTS.B,

29.49%,

3/17/27

..

–

–

991206665.UG.FTS.B,

29.49%,

3/17/27

..

–

–

991238898.UG.FTS.B,

29.49%,

3/17/27

..

–

–

991100109.UG.FTS.B,

29.49%,

3/18/27

..

0

–

991193820.UG.FTS.B,

29.49%,

3/18/27

..

–

–

991159760.UG.FTS.B,

28.98%,

3/19/27

..

16

0

991241700.UG.FTS.B,

29.48%,

3/19/27

..

–

–

991251968.UG.FTS.B,

29.49%,

3/19/27

..

7

0

991144107.UG.FTS.B,

28.98%,

3/20/27

..

–

–

991106408.UG.FTS.B,

29.49%,

3/20/27

..

–

–

991140924.UG.FTS.B,

Zero

Cpn,

3/21/27

.

14

–

991204875.UG.FTS.B,

Zero

Cpn,

3/21/27

.

14

–

991221257.UG.FTS.B,

Zero

Cpn,

3/21/27

.

16

–

991105239.UG.FTS.B,

29.49%,

3/21/27

..

5

0

991264659.UG.FTS.B,

29.49%,

3/21/27

..

9

1

991264073.UG.FTS.B,

Zero

Cpn,

3/22/27

.

15

–

991122314.UG.FTS.B,

29.49%,

3/22/27

..

–

–

991270158.UG.FTS.B,

29.49%,

3/22/27

..

–

–

991122769.UG.FTS.B,

29.49%,

3/23/27

..

0

–

991136287.UG.FTS.B,

29.49%,

3/23/27

..

–

–

991188783.UG.FTS.B,

29.49%,

3/23/27

..

3

0

991206084.UG.FTS.B,

29.49%,

3/23/27

..

8

1

991162086.UG.FTS.B,

21.98%,

3/25/27

..

–

–

991182694.UG.FTS.B,

Zero

Cpn,

3/28/27

.

12

–

991158025.UG.FTS.B,

29.48%,

3/28/27

..

9

1

991292538.UG.FTS.B,

Zero

Cpn,

3/29/27

.

17

–

991336574.UG.FTS.B,

29.49%,

3/29/27

..

10

10

991200811.UG.FTS.B,

29.49%,

4/04/27

..

–

–

991212156.UG.FTS.B,

16.99%,

4/05/27

..

9

9

991250127.UG.FTS.B,

29.49%,

4/05/27

..

0

0

991273015.UG.FTS.B,

29.49%,

4/05/27

..

0

0

991423507.UG.FTS.B,

29.49%,

4/06/27

..

–

–

991357694.UG.FTS.B,

28.98%,

4/07/27

..

–

–

991193635.UG.FTS.B,

29.49%,

4/07/27

..

–

–

991220177.UG.FTS.B,

22.47%,

4/08/27

..

9

1

991388415.UG.FTS.B,

29.49%,

4/08/27

..

3

0

991103120.UG.FTS.B,

Zero

Cpn,

4/09/27

.

16

–

991189768.UG.FTS.B,

Zero

Cpn,

4/09/27

.

15

–

991114547.UG.FTS.B,

29.49%,

4/09/27

..

10

10

991189831.UG.FTS.B,

29.49%,

4/09/27

..

–

–

991237705.UG.FTS.B,

29.49%,

4/15/27

..

5

0

991086123.UG.FTS.B,

Zero

Cpn,

4/17/27

.

9

–

991130828.UG.FTS.B,

Zero

Cpn,

4/18/27

.

20

–

991110515.UG.FTS.B,

29.49%,

4/18/27

..

1

0

991112281.UG.FTS.B,

29.49%,

4/18/27

..

–

–

991126739.UG.FTS.B,

28.98%,

4/19/27

..

2

0

991114995.UG.FTS.B,

29.49%,

4/19/27

..

–

–

991116204.UG.FTS.B,

29.49%,

4/19/27

..

12

6

991114529.UG.FTS.B,

Zero

Cpn,

4/20/27

.

19

–

991146474.UG.FTS.B,

28.48%,

4/21/27

..

0

0

991164254.UG.FTS.B,

29.48%,

4/21/27

..

5

0

991265434.UG.FTS.B,

29.49%,

4/21/27

..

–

–

991185197.UG.FTS.B,

Zero

Cpn,

4/22/27

.

19

–

991199098.UG.FTS.B,

Zero

Cpn,

4/22/27

.

20

–

991164897.UG.FTS.B,

19.99%,

4/22/27

..

7

6

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991211080.UG.FTS.B,

28.98%,

4/22/27

..

$

0

$

–

991152456.UG.FTS.B,

Zero

Cpn,

4/23/27

.

17

–

991161069.UG.FTS.B,

21.46%,

4/24/27

..

–

–

991348813.UG.FTS.B,

Zero

Cpn,

4/26/27

.

16

–

991326218.UG.FTS.B,

29.48%,

4/29/27

..

–

–

991212778.UG.FTS.B,

29.49%,

4/29/27

..

4

2

991334416.UG.FTS.B,

29.49%,

4/29/27

..

17

17

991349059.UG.FTS.B,

28.98%,

4/30/27

..

5

0

991307217.UG.FTS.B,

Zero

Cpn,

5/05/27

.

20

–

991315280.UG.FTS.B,

Zero

Cpn,

5/06/27

.

22

–

991301115.UG.FTS.B,

29.49%,

5/06/27

..

4

4

991026276.UG.FTS.B,

Zero

Cpn,

5/09/27

.

23

2

991193941.UG.FTS.B,

19.99%,

5/09/27

..

0

0

991043586.UG.FTS.B,

20.96%,

5/09/27

..

–

–

991079451.UG.FTS.B,

29.49%,

5/09/27

..

–

–

991138640.UG.FTS.B,

29.49%,

5/09/27

..

0

0

991180511.UG.FTS.B,

29.49%,

5/09/27

..

0

0

991180732.UG.FTS.B,

29.49%,

5/09/27

..

7

0

991322006.UG.FTS.B,

29.49%,

5/09/27

..

3

0

991356235.UG.FTS.B,

29.49%,

5/09/27

..

–

–

991188185.UG.FTS.B,

Zero

Cpn,

5/10/27

.

24

–

991125708.UG.FTS.B,

17.99%,

5/10/27

..

27

2

991375698.UG.FTS.B,

14.98%,

5/13/27

..

0

0

991259848.UG.FTS.B,

29.49%,

5/14/27

..

–

–

991088330.UG.FTS.B,

20.46%,

5/16/27

..

11

1

991265347.UG.FTS.B,

29.49%,

5/16/27

..

–

–

991097666.UG.FTS.B,

Zero

Cpn,

5/17/27

.

25

–

991164965.UG.FTS.B,

Zero

Cpn,

5/18/27

.

24

–

991112958.UG.FTS.B,

Zero

Cpn,

5/19/27

.

23

–

991223160.UG.FTS.B,

28.98%,

5/19/27

..

0

0

991122469.UG.FTS.B,

29.48%,

5/19/27

..

16

1

991104450.UG.FTS.B,

29.49%,

5/19/27

..

1

1

991233521.UG.FTS.B,

29.48%,

5/20/27

..

0

0

991113439.UG.FTS.B,

29.49%,

5/20/27

..

0

0

991201041.UG.FTS.B,

29.49%,

5/20/27

..

5

5

991130086.UG.FTS.B,

28.98%,

5/21/27

..

–

–

991131671.UG.FTS.B,

29.49%,

5/21/27

..

103

100

991221607.UG.FTS.B,

29.49%,

5/21/27

..

0

0

991284802.UG.FTS.B,

29.49%,

5/21/27

..

4

0

991252759.UG.FTS.B,

28.98%,

5/22/27

..

–

–

991174596.UG.FTS.B,

29.49%,

5/23/27

..

16

3

991146583.UG.FTS.B,

29.49%,

5/26/27

..

–

–

991154557.UG.FTS.B,

29.49%,

5/26/27

..

7

1

991165182.UG.FTS.B,

17.99%,

5/27/27

..

0

0

991158685.UG.FTS.B,

29.49%,

5/27/27

..

–

–

991157839.UG.FTS.B,

19.99%,

5/28/27

..

–

–

991160192.UG.FTS.B,

28.98%,

5/28/27

..

12

6

991222835.UG.FTS.B,

29.49%,

5/28/27

..

–

–

991314237.UG.FTS.B,

29.49%,

5/28/27

..

17

1

991210933.UG.FTS.B,

19.99%,

5/29/27

..

0

0

991164017.UG.FTS.B,

28.98%,

5/29/27

..

–

–

991160674.UG.FTS.B,

29.49%,

5/29/27

..

26

22

991177709.UG.FTS.B,

29.49%,

5/29/27

..

0

0

991178623.UG.FTS.B,

29.49%,

5/29/27

..

0

0

991412052.UG.FTS.B,

28.98%,

6/06/27

..

18

1

991196456.UG.FTS.B,

Zero

Cpn,

6/07/27

.

27

–

991211205.UG.FTS.B,

28.98%,

6/07/27

..

0

0

991039909.UG.FTS.B,

29.49%,

6/07/27

..

9

1

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

357

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991393383.UG.FTS.B,

29.49%,

6/07/27

..

$

0

$

0

991198357.UG.FTS.B,

Zero

Cpn,

6/08/27

.

33

–

991320074.UG.FTS.B,

16.99%,

6/08/27

..

–

–

991423236.UG.FTS.B,

28.98%,

6/08/27

..

16

1

991033616.UG.FTS.B,

28.98%,

6/09/27

..

3

3

991068569.UG.FTS.B,

29.49%,

6/09/27

..

31

2

991429195.UG.FTS.B,

16.99%,

6/10/27

..

–

–

991115154.UG.FTS.B,

21.48%,

6/10/27

..

–

–

991423500.UG.FTS.B,

28.98%,

6/10/27

..

0

0

991079521.UG.FTS.B,

18.71%,

6/11/27

..

19

1

991114120.UG.FTS.B,

19.97%,

6/11/27

...

7

0

991476383.UG.FTS.B,

15%,

6/12/27

.....

17

16

991274683.UG.FTS.B,

29.48%,

6/15/27

..

9

9

991092517.UG.FTS.B,

Zero

Cpn,

6/17/27

.

26

2

991392128.UG.FTS.B,

18.47%,

6/17/27

..

4

4

991275114.UG.FTS.B,

28.48%,

6/17/27

..

0

0

991097859.UG.FTS.B,

29.49%,

6/17/27

..

8

1

991110912.UG.FTS.B,

29.49%,

6/17/27

..

0

–

991152553.UG.FTS.B,

29.49%,

6/17/27

..

11

0

991223700.UG.FTS.B,

29.49%,

6/17/27

..

0

0

991124570.UG.FTS.B,

19.99%,

6/18/27

..

–

–

991288522.UG.FTS.B,

29.49%,

6/18/27

..

9

1

991161741.UG.FTS.B,

28.98%,

6/19/27

..

0

0

991221075.UG.FTS.B,

28.98%,

6/19/27

..

–

–

991290289.UG.FTS.B,

28.98%,

6/19/27

..

–

–

991156732.UG.FTS.B,

29.49%,

6/20/27

..

29

2

991125165.UG.FTS.B,

28.98%,

6/21/27

..

0

0

991289357.UG.FTS.B,

28.98%,

6/21/27

..

0

0

991187184.UG.FTS.B,

29.49%,

6/21/27

..

11

1

991213807.UG.FTS.B,

29.49%,

6/21/27

..

–

–

991306928.UG.FTS.B,

29.49%,

6/21/27

..

–

–

991208508.UG.FTS.B,

26.44%,

6/22/27

..

19

17

991309074.UG.FTS.B,

29.49%,

6/22/27

..

6

0

991140948.UG.FTS.B,

Zero

Cpn,

6/23/27

.

24

–

991143588.UG.FTS.B,

19.99%,

6/23/27

..

18

17

991135909.UG.FTS.B,

28.98%,

6/23/27

..

–

–

991292552.UG.FTS.B,

29.48%,

6/23/27

..

14

1

991150923.UG.FTS.B,

29.49%,

6/23/27

..

0

0

991265128.UG.FTS.B,

29.49%,

6/23/27

..

19

1

991289179.UG.FTS.B,

19.96%,

6/24/27

..

0

0

991152706.UG.FTS.B,

22.47%,

6/25/27

..

13

0

991156160.UG.FTS.B,

28.98%,

6/25/27

..

0

0

991153613.UG.FTS.B,

20.46%,

6/26/27

..

3

1

991145382.UG.FTS.B,

28.98%,

6/26/27

..

0

0

991269340.UG.FTS.B,

19.99%,

6/28/27

..

11

0

991155976.UG.FTS.B,

28.98%,

6/28/27

..

–

–

991218876.UG.FTS.B,

29.49%,

6/28/27

..

12

11

991227665.UG.FTS.B,

29.49%,

6/29/27

..

28

0

991348343.UG.FTS.B,

29.49%,

6/29/27

..

–

–

991360875.UG.FTS.B,

Zero

Cpn,

6/30/27

.

29

2

991208277.UG.FTS.B,

29.49%,

7/06/27

..

0

0

991212021.UG.FTS.B,

28.98%,

7/07/27

..

0

0

991314784.UG.FTS.B,

29.49%,

7/07/27

..

0

0

991400565.UG.FTS.B,

19.99%,

7/09/27

..

13

1

991201399.UG.FTS.B,

28.98%,

7/09/27

..

0

0

991046321.UG.FTS.B,

29.49%,

7/09/27

..

14

1

991054479.UG.FTS.B,

29.49%,

7/09/27

..

2

2

991082149.UG.FTS.B,

29.49%,

7/09/27

..

1

0

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991139513.UG.FTS.B,

29.49%,

7/09/27

..

$

30

$

28

991181634.UG.FTS.B,

29.49%,

7/09/27

..

5

0

991088022.UG.FTS.B,

20.47%,

7/11/27

..

0

0

991280441.UG.FTS.B,

19.21%,

7/12/27

..

–

–

991260540.UG.FTS.B,

29.49%,

7/14/27

..

17

(1)

991290370.UG.FTS.B,

22.47%,

7/15/27

..

2

2

991270867.UG.FTS.B,

28.98%,

7/15/27

..

23

2

991255158.UG.FTS.B,

29.49%,

7/15/27

..

0

0

991096851.UG.FTS.B,

22.47%,

7/16/27

..

10

1

991202599.UG.FTS.B,

29.49%,

7/16/27

..

3

3

991131393.UG.FTS.B,

18.97%,

7/17/27

..

0

0

991086321.UG.FTS.B,

29.49%,

7/17/27

..

2

1

991088339.UG.FTS.B,

29.49%,

7/17/27

..

0

0

991088978.UG.FTS.B,

29.49%,

7/17/27

..

23

2

991218439.UG.FTS.B,

29.49%,

7/17/27

..

1

1

991104086.UG.FTS.B,

Zero

Cpn,

7/18/27

.

28

–

991106072.UG.FTS.B,

Zero

Cpn,

7/18/27

.

32

–

991145480.UG.FTS.B,

26.49%,

7/18/27

..

4

4

991259791.UG.FTS.B,

27.99%,

7/18/27

..

10

9

991256921.UG.FTS.B,

19.99%,

7/19/27

..

0

0

991175390.UG.FTS.B,

28.98%,

7/19/27

..

–

–

991189165.UG.FTS.B,

28.98%,

7/19/27

..

0

0

991152760.UG.FTS.B,

29.49%,

7/19/27

..

0

0

991100620.UG.FTS.B,

20.97%,

7/20/27

..

0

0

991113142.UG.FTS.B,

28.48%,

7/20/27

..

4

4

991101832.UG.FTS.B,

29.49%,

7/20/27

..

16

16

991113309.UG.FTS.B,

29.49%,

7/20/27

..

4

4

991288033.UG.FTS.B,

29.49%,

7/20/27

..

0

0

991294259.UG.FTS.B,

28.48%,

7/21/27

..

8

1

991263167.UG.FTS.B,

Zero

Cpn,

7/22/27

.

32

2

991116148.UG.FTS.B,

29.48%,

7/22/27

..

0

0

991132939.UG.FTS.B,

29.49%,

7/22/27

..

24

10

991137989.UG.FTS.B,

29.49%,

7/25/27

..

29

(1)

991155276.UG.FTS.B,

20.47%,

7/26/27

..

–

–

991144516.UG.FTS.B,

29.49%,

7/26/27

..

8

8

991174323.UG.FTS.B,

23.45%,

7/28/27

..

15

15

991158455.UG.FTS.B,

29.49%,

7/28/27

..

2

2

991160693.UG.FTS.B,

19.21%,

7/29/27

..

2

2

991278295.UG.FTS.B,

25.45%,

7/29/27

..

25

25

991343730.UG.FTS.B,

28.98%,

7/29/27

..

0

0

991166333.UG.FTS.B,

29.49%,

7/29/27

..

2

2

991189484.UG.FTS.B,

29.49%,

7/29/27

..

10

1

991220924.UG.FTS.B,

29.49%,

7/29/27

..

2

2

991320165.UG.FTS.B,

29.49%,

7/29/27

..

4

4

991374347.UG.FTS.B,

29.49%,

7/30/27

..

4

4

991388714.UG.FTS.B,

17.99%,

8/05/27

..

3

3

991319059.UG.FTS.B,

28.98%,

8/05/27

..

19

18

991442281.UG.FTS.B,

29.49%,

8/05/27

..

1

1

991423881.UG.FTS.B,

28.98%,

8/06/27

..

3

3

991307830.UG.FTS.B,

29.49%,

8/06/27

..

2

2

991309300.UG.FTS.B,

16.99%,

8/07/27

..

0

0

991103452.UG.FTS.B,

18.71%,

8/07/27

..

5

5

991306003.UG.FTS.B,

29.49%,

8/07/27

..

15

7

991409872.UG.FTS.B,

29.49%,

8/07/27

..

19

17

991154324.UG.FTS.B,

19.21%,

8/08/27

..

2

2

991446589.UG.FTS.B,

21.98%,

8/08/27

..

3

3

991154238.UG.FTS.B,

28.48%,

8/09/27

..

1

1

991032819.UG.FTS.B,

29.49%,

8/09/27

..

0

0

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

358

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upgrade,

Inc.

-

Card

(continued)

991034319.UG.FTS.B,

29.49%,

8/09/27

..

$

3

$

3

991058249.UG.FTS.B,

29.49%,

8/09/27

..

4

4

991160361.UG.FTS.B,

29.49%,

8/09/27

..

1

1

991202562.UG.FTS.B,

29.49%,

8/09/27

..

7

4

991057662.UG.FTS.B,

22.97%,

8/10/27

..

6

3

991316650.UG.FTS.B,

29.49%,

8/10/27

..

–

–

991360982.UG.FTS.B,

29.49%,

8/10/27

..

1

1

991307286.UG.FTS.B,

16.99%,

8/11/27

..

23

2

991122558.UG.FTS.B,

18.71%,

8/12/27

..

3

3

991066208.UG.FTS.B,

20.96%,

8/13/27

..

5

5

991304513.UG.FTS.B,

23.45%,

8/14/27

..

10

2

991317833.UG.FTS.B,

16.49%,

8/15/27

..

1

1

991100083.UG.FTS.B,

25.45%,

8/15/27

..

3

2

991224114.UG.FTS.B,

29.49%,

8/15/27

..

3

3

991271033.UG.FTS.B,

29.49%,

8/15/27

..

12

11

991425901.UG.FTS.B,

17.99%,

8/16/27

..

2

2

991202211.UG.FTS.B,

19.21%,

8/16/27

..

2

2

991081785.UG.FTS.B,

19.3%,

8/16/27

...

4

4

991182467.UG.FTS.B,

21.46%,

8/17/27

..

1

1

991165626.UG.FTS.B,

25.45%,

8/17/27

..

7

7

991090440.UG.FTS.B,

28.48%,

8/17/27

..

0

0

991090605.UG.FTS.B,

29.49%,

8/17/27

..

4

4

991104809.UG.FTS.B,

29.49%,

8/17/27

..

2

2

991118063.UG.FTS.B,

29.49%,

8/17/27

..

20

18

991136543.UG.FTS.B,

29.49%,

8/17/27

..

11

10

991139840.UG.FTS.B,

29.49%,

8/17/27

..

19

(1)

991140282.UG.FTS.B,

29.49%,

8/17/27

..

3

3

991147489.UG.FTS.B,

29.49%,

8/17/27

..

8

8

991170626.UG.FTS.B,

29.49%,

8/17/27

..

3

3

991241911.UG.FTS.B,

29.49%,

8/17/27

..

4

4

991269944.UG.FTS.B,

29.49%,

8/17/27

..

31

2

991275772.UG.FTS.B,

22.47%,

8/18/27

..

4

4

991104574.UG.FTS.B,

28.48%,

8/18/27

..

29

2

991111389.UG.FTS.B,

28.48%,

8/18/27

...

23

4

991108247.UG.FTS.B,

29.49%,

8/18/27

..

0

0

991112214.UG.FTS.B,

29.49%,

8/18/27

..

22

21

991116301.UG.FTS.B,

29.49%,

8/18/27

..

3

3

991137119.UG.FTS.B,

29.49%,

8/18/27

..

8

8

991267236.UG.FTS.B,

29.49%,

8/18/27

..

5

5

991281302.UG.FTS.B,

29.49%,

8/18/27

..

3

3

991263337.UG.FTS.B,

28.98%,

8/19/27

..

5

5

991109805.UG.FTS.B,

29.49%,

8/19/27

..

15

15

991192338.UG.FTS.B,

29.49%,

8/19/27

..

9

9

991242465.UG.FTS.B,

29.49%,

8/19/27

..

4

4

991113909.UG.FTS.B,

29.49%,

8/20/27

..

15

1

991177923.UG.FTS.B,

29.49%,

8/20/27

..

5

5

991208021.UG.FTS.B,

29.49%,

8/20/27

..

4

4

991230463.UG.FTS.B,

29.49%,

8/20/27

..

1

1

991237591.UG.FTS.B,

29.49%,

8/20/27

..

1

1

991261837.UG.FTS.B,

18.71%,

8/21/27

..

4

4

991106406.UG.FTS.B,

28.98%,

8/21/27

..

3

3

991185886.UG.FTS.B,

28.98%,

8/21/27

..

37

3

991279969.UG.FTS.B,

28.98%,

8/21/27

..

5

5

991114448.UG.FTS.B,

29.49%,

8/21/27

..

25

2

991116522.UG.FTS.B,

29.49%,

8/21/27

..

3

3

991157093.UG.FTS.B,

29.49%,

8/21/27

..

2

2

991186791.UG.FTS.B,

29.49%,

8/21/27

..

1

1

991195437.UG.FTS.B,

29.49%,

8/21/27

..

16

1

Description

Principal

Amount

Value

Upgrade,

Inc.

-

Card

(continued)

991271740.UG.FTS.B,

29.49%,

8/21/27

..

$

11

$

2

991288870.UG.FTS.B,

29.49%,

8/21/27

..

15

3

991326167.UG.FTS.B,

19.21%,

8/22/27

..

2

2

991280372.UG.FTS.B,

27.99%,

8/22/27

..

0

0

991220666.UG.FTS.B,

28.98%,

8/22/27

..

9

9

991222264.UG.FTS.B,

28.98%,

8/22/27

..

1

1

991195707.UG.FTS.B,

29.49%,

8/22/27

..

8

8

991208043.UG.FTS.B,

29.49%,

8/22/27

..

3

3

991227199.UG.FTS.B,

29.49%,

8/22/27

..

0

0

991242927.UG.FTS.B,

29.49%,

8/22/27

..

14

2

991271720.UG.FTS.B,

29.49%,

8/22/27

..

25

2

991297269.UG.FTS.B,

29.49%,

8/22/27

..

5

5

991212790.UG.FTS.B,

19.99%,

8/23/27

..

5

5

991144609.UG.FTS.B,

29.48%,

8/23/27

..

5

5

991126008.UG.FTS.B,

29.49%,

8/23/27

..

16

1

991144627.UG.FTS.B,

29.49%,

8/23/27

..

25

10

991308573.UG.FTS.B,

29.49%,

8/23/27

..

0

0

991310138.UG.FTS.B,

29.49%,

8/23/27

..

14

2

991146308.UG.FTS.B,

22.47%,

8/25/27

..

3

3

991138205.UG.FTS.B,

28.48%,

8/25/27

..

2

2

991138750.UG.FTS.B,

29.49%,

8/25/27

..

27

2

991342087.UG.FTS.B,

19.96%,

8/26/27

..

0

0

991145367.UG.FTS.B,

28.48%,

8/26/27

..

1

1

991146082.UG.FTS.B,

28.48%,

8/26/27

..

4

4

991369636.UG.FTS.B,

19.3%,

8/27/27

...

4

4

991350587.UG.FTS.B,

28.98%,

8/27/27

..

0

0

991151979.UG.FTS.B,

29.49%,

8/27/27

..

3

3

4,342,167

Upstart

Network,

Inc.

L1410764.UP.FTS.B,

15.3%,

7/09/24

....

2,148

2,125

FW1410940.UP.FTS.B,

21.18%,

7/09/24

..

2,202

2,169

L1410857.UP.FTS.B,

23.47%,

7/09/24

....

3,852

3,793

L1410939.UP.FTS.B,

23.67%,

7/09/24

....

3,325

3,281

FW1410302.UP.FTS.B,

27.74%,

7/09/24

..

5,589

5,506

FW1612116.UP.FTS.B,

7.74%,

8/23/24

...

3,982

3,950

L1612441.UP.FTS.B,

8.61%,

8/23/24

....

3,606

3,578

L1612016.UP.FTS.B,

8.95%,

8/23/24

....

2,221

2,205

FW1611668.UP.FTS.B,

11.38%,

8/23/24

..

10,213

10,142

L1612835.UP.FTS.B,

11.9%,

8/23/24

.....

3,019

2,998

FW1611989.UP.FTS.B,

12.35%,

8/23/24

..

2,197

2,183

FW1612094.UP.FTS.B,

15.12%,

8/23/24

..

659

653

L1612289.UP.FTS.B,

15.71%,

8/23/24

....

13,816

13,684

L1606592.UP.FTS.B,

16.34%,

8/23/24

....

26,043

25,891

FW1612750.UP.FTS.B,

17.01%,

8/23/24

..

4,473

325

L1611926.UP.FTS.B,

17.14%,

8/23/24

....

746

742

L1612153.UP.FTS.B,

17.45%,

8/23/24

....

2,040

2,016

L1612011.UP.FTS.B,

17.65%,

8/23/24

....

1,781

1,768

L1612903.UP.FTS.B,

17.72%,

8/23/24

....

3,740

3,719

L1613038.UP.FTS.B,

18.06%,

8/23/24

....

2,996

2,979

L1612812.UP.FTS.B,

18.75%,

8/23/24

....

7,510

7,467

L1612795.UP.FTS.B,

19.34%,

8/23/24

....

6,032

5,993

FW1611869.UP.FTS.B,

19.81%,

8/23/24

..

1,498

1,489

L1612705.UP.FTS.B,

21.91%,

8/23/24

....

3,800

3,763

L1612853.UP.FTS.B,

22.27%,

8/23/24

....

2,446

716

L1612495.UP.FTS.B,

22.7%,

8/23/24

....

2,044

2,021

L1612081.UP.FTS.B,

22.91%,

8/23/24

....

2,593

2,569

L1612257.UP.FTS.B,

22.94%,

8/23/24

....

15,257

15,112

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

359

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

FW1612843.UP.FTS.B,

23.35%,

8/23/24

..

$

4,053

$

1,186

FW1611914.UP.FTS.B,

24.09%,

8/23/24

..

1,280

199

FW1613175.UP.FTS.B,

24.35%,

8/23/24

..

4,217

4,176

FW1612879.UP.FTS.B,

24.86%,

8/23/24

..

2,512

389

FW1611995.UP.FTS.B,

26.04%,

8/23/24

..

4,628

4,584

FW1611997.UP.FTS.B,

26.88%,

8/23/24

..

4,641

4,597

FW1606291.UP.FTS.B,

27.01%,

8/23/24

..

3,096

3,066

FW1611967.UP.FTS.B,

27.5%,

8/23/24

...

4,045

3,995

FW1604455.UP.FTS.B,

27.65%,

8/23/24

..

3,878

3,841

FW1612200.UP.FTS.B,

28.42%,

8/23/24

..

5,494

391

FW1611972.UP.FTS.B,

28.72%,

8/23/24

..

934

925

FW1613240.UP.FTS.B,

28.79%,

8/23/24

..

1,168

1,157

FW1593496.UP.FTS.B,

29.19%,

8/23/24

..

1,316

1,297

FW1613150.UP.FTS.B,

30.32%,

8/23/24

..

2,274

2,243

FW1611405.UP.FTS.B,

30.92%,

8/23/24

..

5,568

5,515

FW1612529.UP.FTS.B,

31.07%,

8/23/24

..

2,444

2,413

FW1612870.UP.FTS.B,

32.37%,

8/23/24

..

3,940

3,903

L1616941.UP.FTS.B,

6.69%,

8/24/24

....

2,861

2,839

FW1618227.UP.FTS.B,

7.62%,

8/24/24

...

11,481

11,392

L1615041.UP.FTS.B,

7.72%,

8/24/24

....

4,311

4,278

L1615714.UP.FTS.B,

8.06%,

8/24/24

....

3,238

3,213

L1617026.UP.FTS.B,

9.07%,

8/24/24

....

2,168

2,153

L1614367.UP.FTS.B,

9.22%,

8/24/24

....

1,085

1,077

L1615478.UP.FTS.B,

9.75%,

8/24/24

....

2,174

2,159

L1617167.UP.FTS.B,

9.97%,

8/24/24

....

1,451

1,441

L1613537.UP.FTS.B,

10.76%,

8/24/24

....

6,549

6,504

L1616794.UP.FTS.B,

12.02%,

8/24/24

....

11,252

3,043

L1617960.UP.FTS.B,

12.89%,

8/24/24

....

2,936

2,918

FW1616172.UP.FTS.B,

14.22%,

8/24/24

..

2,805

2,786

L1614073.UP.FTS.B,

15.77%,

8/24/24

....

7,633

7,576

L1618007.UP.FTS.B,

15.83%,

8/24/24

....

1,440

1,421

L1618000.UP.FTS.B,

16.11%,

8/24/24

....

7,441

7,389

L1616524.UP.FTS.B,

16.36%,

8/24/24

....

3,721

3,699

L1617307.UP.FTS.B,

16.47%,

8/24/24

....

1,042

1,037

L1616819.UP.FTS.B,

16.55%,

8/24/24

....

13,338

974

FW1617392.UP.FTS.B,

16.64%,

8/24/24

..

4,470

4,445

FW1618059.UP.FTS.B,

16.81%,

8/24/24

..

3,852

3,816

FW1618205.UP.FTS.B,

17.17%,

8/24/24

..

9,704

9,651

L1614277.UP.FTS.B,

17.35%,

8/24/24

....

866

62

FW1612144.UP.FTS.B,

17.97%,

8/24/24

..

2,241

2,228

L1616998.UP.FTS.B,

18.36%,

8/24/24

....

2,625

2,610

L1613583.UP.FTS.B,

18.67%,

8/24/24

....

4,505

4,480

FW1616441.UP.FTS.B,

18.68%,

8/24/24

..

1,864

1,853

L1613531.UP.FTS.B,

19.04%,

8/24/24

....

2,256

2,243

L1615117.UP.FTS.B,

19.17%,

8/24/24

....

1,558

1,544

L1615656.UP.FTS.B,

19.47%,

8/24/24

....

4,674

4,625

L1614540.UP.FTS.B,

20.1%,

8/24/24

....

4,907

4,862

L1616206.UP.FTS.B,

20.31%,

8/24/24

....

1,889

1,878

L1613927.UP.FTS.B,

20.62%,

8/24/24

....

3,784

3,742

L1617323.UP.FTS.B,

20.76%,

8/24/24

....

4,263

156

L1614717.UP.FTS.B,

20.99%,

8/24/24

....

2,272

2,251

L1618034.UP.FTS.B,

21.14%,

8/24/24

....

2,228

2,210

L1616789.UP.FTS.B,

21.29%,

8/24/24

....

1,435

1,419

L1618119.UP.FTS.B,

21.46%,

8/24/24

....

5,292

5,243

FW1614729.UP.FTS.B,

21.59%,

8/24/24

..

2,655

411

L1597410.UP.FTS.B,

22.34%,

8/24/24

....

1,703

45

FW1614692.UP.FTS.B,

22.37%,

8/24/24

..

8,337

8,259

L1613701.UP.FTS.B,

22.48%,

8/24/24

....

6,854

6,791

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L1613954.UP.FTS.B,

22.51%,

8/24/24

....

$

6,094

$

6,039

L1612815.UP.FTS.B,

22.77%,

8/24/24

....

2,751

809

L1614621.UP.FTS.B,

22.87%,

8/24/24

....

6,817

6,753

L1614292.UP.FTS.B,

22.91%,

8/24/24

....

763

756

L1617429.UP.FTS.B,

23.23%,

8/24/24

....

11,507

11,338

L1616343.UP.FTS.B,

23.46%,

8/24/24

....

3,583

76

L1615531.UP.FTS.B,

23.83%,

8/24/24

....

2,372

2,351

L1616824.UP.FTS.B,

23.86%,

8/24/24

....

1,352

1,336

L1612236.UP.FTS.B,

24.57%,

8/24/24

....

2,944

457

L1614295.UP.FTS.B,

24.71%,

8/24/24

....

2,034

599

FW1615676.UP.FTS.B,

25.32%,

8/24/24

..

1,252

1,237

FW1616265.UP.FTS.B,

25.8%,

8/24/24

...

5,173

5,124

L1606405.UP.FTS.B,

26.01%,

8/24/24

....

1,909

1,885

FW1615059.UP.FTS.B,

26.12%,

8/24/24

..

4,581

4,537

FW1616690.UP.FTS.B,

26.45%,

8/24/24

..

335

330

FW1613406.UP.FTS.B,

26.85%,

8/24/24

..

5,738

5,666

FW1614554.UP.FTS.B,

27.01%,

8/24/24

..

1,671

50

FW1603917.UP.FTS.B,

27.16%,

8/24/24

..

3,097

3,069

FW1614960.UP.FTS.B,

27.28%,

8/24/24

..

2,686

2,661

FW1618121.UP.FTS.B,

27.49%,

8/24/24

..

6,762

6,675

FW1615203.UP.FTS.B,

28.26%,

8/24/24

..

2,329

2,308

FW1608456.UP.FTS.B,

28.41%,

8/24/24

..

465

458

FW1617127.UP.FTS.B,

28.63%,

8/24/24

..

2,335

2,313

FW1614679.UP.FTS.B,

28.88%,

8/24/24

..

3,759

3,718

FW1617697.UP.FTS.B,

29%,

8/24/24

....

1,770

1,748

FW1615843.UP.FTS.B,

29.08%,

8/24/24

..

884

873

FW1617880.UP.FTS.B,

29.1%,

8/24/24

...

1,559

1,545

FW1617191.UP.FTS.B,

30.37%,

8/24/24

..

1,173

1,162

L1619786.UP.FTS.B,

7.29%,

8/25/24

....

3,586

3,560

L1620896.UP.FTS.B,

7.97%,

8/25/24

....

2,793

2,772

L1620409.UP.FTS.B,

9.92%,

8/25/24

....

1,450

1,441

L1609249.UP.FTS.B,

10.93%,

8/25/24

....

3,641

3,621

L1618433.UP.FTS.B,

12.74%,

8/25/24

....

11,004

10,944

L1618817.UP.FTS.B,

13.07%,

8/25/24

....

2,643

2,629

L1618890.UP.FTS.B,

13.2%,

8/25/24

....

2,797

2,780

L1619755.UP.FTS.B,

13.74%,

8/25/24

....

4,125

4,103

L1620684.UP.FTS.B,

15.61%,

8/25/24

....

4,326

4,301

L1618618.UP.FTS.B,

15.72%,

8/25/24

....

742

739

L1595806.UP.FTS.B,

16.33%,

8/25/24

....

2,530

2,518

L1619235.UP.FTS.B,

18.04%,

8/25/24

....

1,871

1,862

FW1618611.UP.FTS.B,

19.46%,

8/25/24

..

3,146

3,131

L1619833.UP.FTS.B,

19.96%,

8/25/24

....

7,808

292

L1620021.UP.FTS.B,

20.47%,

8/25/24

....

1,512

1,505

L1617738.UP.FTS.B,

20.93%,

8/25/24

....

5,842

5,779

L1619582.UP.FTS.B,

21.11%,

8/25/24

....

5,304

5,262

L1620353.UP.FTS.B,

21.57%,

8/25/24

....

1,822

132

L1621220.UP.FTS.B,

21.82%,

8/25/24

....

2,321

2,301

L1620934.UP.FTS.B,

22.56%,

8/25/24

....

2,895

2,872

L1618207.UP.FTS.B,

22.64%,

8/25/24

....

3,048

3,024

FW1618357.UP.FTS.B,

25.15%,

8/25/24

..

2,860

846

FW1619379.UP.FTS.B,

25.68%,

8/25/24

..

841

834

FW1621090.UP.FTS.B,

25.79%,

8/25/24

..

1,542

1,530

FW1618882.UP.FTS.B,

25.91%,

8/25/24

..

4,041

3,999

FW1620098.UP.FTS.B,

26.52%,

8/25/24

..

2,631

2,607

FW1618797.UP.FTS.B,

27.03%,

8/25/24

..

3,858

3,809

FW1601279.UP.FTS.B,

28.41%,

8/25/24

..

1,542

1,526

FW1618716.UP.FTS.B,

29.11%,

8/25/24

..

1,015

159

FW1619402.UP.FTS.B,

29.13%,

8/25/24

..

1,650

1,633

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

360

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

FW1618720.UP.FTS.B,

30.08%,

8/25/24

..

$

5,631

$

5,588

L1706751.UP.FTS.B,

6.12%,

9/13/24

....

7,177

7,114

L1707041.UP.FTS.B,

6.68%,

9/13/24

....

20,028

19,854

L1705897.UP.FTS.B,

6.84%,

9/13/24

....

18,556

18,394

L1705350.UP.FTS.B,

7.7%,

9/13/24

.....

2,983

2,955

L1705902.UP.FTS.B,

7.87%,

9/13/24

....

7,452

7,387

L1706157.UP.FTS.B,

9.34%,

9/13/24

....

3,372

3,343

L1704876.UP.FTS.B,

9.87%,

9/13/24

....

1,706

106

L1693379.UP.FTS.B,

10.32%,

9/13/24

....

3,760

3,728

L1706496.UP.FTS.B,

12.56%,

9/13/24

....

11,967

11,294

L1706478.UP.FTS.B,

12.65%,

9/13/24

....

3,703

973

L1704842.UP.FTS.B,

13.48%,

9/13/24

....

3,125

2,949

L1706753.UP.FTS.B,

13.61%,

9/13/24

....

5,709

5,660

L1706804.UP.FTS.B,

14.15%,

9/13/24

....

12,327

12,184

FW1703114.UP.FTS.B,

14.49%,

9/13/24

..

2,673

2,646

L1705059.UP.FTS.B,

15.08%,

9/13/24

....

5,053

733

L1706939.UP.FTS.B,

15.26%,

9/13/24

....

1,467

1,451

L1706922.UP.FTS.B,

15.62%,

9/13/24

....

30,668

30,359

L1704236.UP.FTS.B,

15.99%,

9/13/24

....

6,884

6,814

L1706754.UP.FTS.B,

16.23%,

9/13/24

....

15,367

15,213

L1706268.UP.FTS.B,

16.68%,

9/13/24

....

1,489

1,472

L1705462.UP.FTS.B,

16.72%,

9/13/24

....

19,849

19,642

L1704947.UP.FTS.B,

17.56%,

9/13/24

....

986

968

L1702670.UP.FTS.B,

17.62%,

9/13/24

....

2,162

2,140

L1706278.UP.FTS.B,

17.82%,

9/13/24

....

7,344

7,270

L1706603.UP.FTS.B,

17.88%,

9/13/24

....

1,866

1,844

FW1704884.UP.FTS.B,

18%,

9/13/24

....

1,105

1,093

L1706690.UP.FTS.B,

18.37%,

9/13/24

....

2,514

698

FW1706245.UP.FTS.B,

18.38%,

9/13/24

..

4,645

4,598

L1706486.UP.FTS.B,

18.45%,

9/13/24

....

3,871

3,832

FW1706133.UP.FTS.B,

18.48%,

9/13/24

..

4,393

4,341

L1701616.UP.FTS.B,

19.62%,

9/13/24

....

1,465

1,441

L1704877.UP.FTS.B,

19.78%,

9/13/24

....

3,111

3,080

FW1705480.UP.FTS.B,

22.14%,

9/13/24

..

1,176

1,164

L1706370.UP.FTS.B,

22.24%,

9/13/24

....

2,352

2,318

FW1706246.UP.FTS.B,

22.25%,

9/13/24

..

1,280

191

L1706636.UP.FTS.B,

22.54%,

9/13/24

....

5,844

5,747

FW1699123.UP.FTS.B,

22.68%,

9/13/24

..

3,141

3,095

L1707019.UP.FTS.B,

22.94%,

9/13/24

....

8,170

7,689

L1706515.UP.FTS.B,

23%,

9/13/24

......

1,544

1,521

L1706982.UP.FTS.B,

23.01%,

9/13/24

....

436

427

FW1690887.UP.FTS.B,

23.14%,

9/13/24

..

3,146

3,100

L1705867.UP.FTS.B,

23.21%,

9/13/24

....

3,935

3,896

L1705591.UP.FTS.B,

23.35%,

9/13/24

....

4,570

4,497

L1706082.UP.FTS.B,

23.36%,

9/13/24

....

3,935

3,878

FW1706171.UP.FTS.B,

23.72%,

9/13/24

..

788

777

L1707040.UP.FTS.B,

24.58%,

9/13/24

....

9,780

9,632

FW1704838.UP.FTS.B,

25.19%,

9/13/24

..

6,034

5,911

L1705310.UP.FTS.B,

25.76%,

9/13/24

....

1,190

1,172

FW1704787.UP.FTS.B,

26.17%,

9/13/24

..

3,626

3,507

FW1705725.UP.FTS.B,

26.51%,

9/13/24

..

1,205

1,186

FW1706468.UP.FTS.B,

26.54%,

9/13/24

..

1,374

1,349

FW1706423.UP.FTS.B,

27.55%,

9/13/24

..

3,282

3,091

FW1706959.UP.FTS.B,

28.41%,

9/13/24

..

1,599

1,576

FW1706385.UP.FTS.B,

28.43%,

9/13/24

..

2,765

121

FW1704857.UP.FTS.B,

28.91%,

9/13/24

..

3,457

3,400

FW1702989.UP.FTS.B,

28.98%,

9/13/24

..

2,717

2,559

FW1705344.UP.FTS.B,

29.85%,

9/13/24

..

3,973

3,912

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW1706150.UP.FTS.B,

31.15%,

9/13/24

..

$

7,525

$

533

L1880417.UP.FTS.B,

5.63%,

10/19/24

....

2,622

2,601

L1876780.UP.FTS.B,

7.17%,

10/19/24

....

3,848

3,817

L1880453.UP.FTS.B,

8.07%,

10/19/24

....

3,474

3,447

L1880928.UP.FTS.B,

8.42%,

10/19/24

....

6,261

6,211

L1880480.UP.FTS.B,

8.79%,

10/19/24

....

7,739

7,677

L1877544.UP.FTS.B,

9.08%,

10/19/24

....

836

829

L1828554.UP.FTS.B,

9.21%,

10/19/24

....

1,163

1,153

L1880929.UP.FTS.B,

9.86%,

10/19/24

....

3,884

3,853

L1843265.UP.FTS.B,

9.92%,

10/19/24

....

9,323

9,249

L1877810.UP.FTS.B,

10.5%,

10/19/24

....

1,713

1,699

FW1880015.UP.FTS.B,

10.71%,

10/19/24

.

13,243

13,141

FW1880412.UP.FTS.B,

11.4%,

10/19/24

..

7,808

7,748

FW1881446.UP.FTS.B,

11.54%,

10/19/24

.

781

775

L1879230.UP.FTS.B,

12.91%,

10/19/24

...

5,022

4,984

L1879927.UP.FTS.B,

13.42%,

10/19/24

...

4,323

4,283

L1881269.UP.FTS.B,

13.94%,

10/19/24

...

1,968

1,950

L1878015.UP.FTS.B,

14.68%,

10/19/24

...

789

782

L1877989.UP.FTS.B,

14.75%,

10/19/24

...

8,960

656

L1876508.UP.FTS.B,

15.29%,

10/19/24

...

1,977

1,958

FW1878235.UP.FTS.B,

16.59%,

10/19/24

.

794

787

L1880312.UP.FTS.B,

16.77%,

10/19/24

...

2,048

1,933

L1876177.UP.FTS.B,

16.95%,

10/19/24

...

795

788

FW1878279.UP.FTS.B,

18.26%,

10/19/24

.

797

790

FW1880539.UP.FTS.B,

18.7%,

10/19/24

..

2,797

2,771

L1880426.UP.FTS.B,

18.73%,

10/19/24

...

2,238

2,217

L1879219.UP.FTS.B,

18.95%,

10/19/24

...

3,999

3,962

L1877399.UP.FTS.B,

18.99%,

10/19/24

...

800

793

L1877157.UP.FTS.B,

19.36%,

10/19/24

...

4,405

4,364

FW1880021.UP.FTS.B,

19.73%,

10/19/24

.

5,607

5,534

L1877812.UP.FTS.B,

19.98%,

10/19/24

...

963

954

FW1877508.UP.FTS.B,

20.09%,

10/19/24

.

4,168

3,933

FW1879790.UP.FTS.B,

20.32%,

10/19/24

.

770

762

FW1880944.UP.FTS.B,

20.45%,

10/19/24

.

5,568

5,514

FW1876805.UP.FTS.B,

20.67%,

10/19/24

.

804

797

L1877424.UP.FTS.B,

20.68%,

10/19/24

...

3,416

3,366

L1881280.UP.FTS.B,

20.85%,

10/19/24

...

4,827

4,782

L1876344.UP.FTS.B,

21.57%,

10/19/24

...

2,583

2,546

FW1878630.UP.FTS.B,

21.75%,

10/19/24

.

2,420

2,388

L1870989.UP.FTS.B,

21.8%,

10/19/24

....

807

796

L1880976.UP.FTS.B,

21.84%,

10/19/24

...

3,997

3,959

L1881360.UP.FTS.B,

22.2%,

10/19/24

....

4,154

3,921

FW1880292.UP.FTS.B,

22.54%,

10/19/24

.

2,426

2,403

L1880669.UP.FTS.B,

22.94%,

10/19/24

...

4,047

3,995

L1878043.UP.FTS.B,

23%,

10/19/24

.....

32,386

31,965

L1878741.UP.FTS.B,

23.21%,

10/19/24

...

2,754

2,729

L1880437.UP.FTS.B,

23.31%,

10/19/24

...

8,060

7,953

L1880362.UP.FTS.B,

23.34%,

10/19/24

...

810

800

FW1879449.UP.FTS.B,

23.4%,

10/19/24

..

1,129

82

L1876918.UP.FTS.B,

23.43%,

10/19/24

...

1,135

1,120

FW1877656.UP.FTS.B,

23.66%,

10/19/24

.

1,676

1,651

FW1877532.UP.FTS.B,

24.41%,

10/19/24

.

2,498

2,465

FW1864993.UP.FTS.B,

24.55%,

10/19/24

.

6,484

6,399

FW1881583.UP.FTS.B,

25.39%,

10/19/24

.

4,076

4,023

FW1877169.UP.FTS.B,

26.6%,

10/19/24

..

1,418

1,398

FW1879233.UP.FTS.B,

26.7%,

10/19/24

..

818

811

FW1880779.UP.FTS.B,

27.13%,

10/19/24

.

4,096

4,043

FW1877272.UP.FTS.B,

27.59%,

10/19/24

.

2,051

2,024

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

361

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

FW1880807.UP.FTS.B,

27.59%,

10/19/24

.

$

4,101

$

4,048

FW1880823.UP.FTS.B,

27.61%,

10/19/24

.

2,871

2,834

FW1873483.UP.FTS.B,

27.95%,

10/19/24

.

1,150

1,135

FW1877315.UP.FTS.B,

28.16%,

10/19/24

.

822

811

FW1880670.UP.FTS.B,

28.35%,

10/19/24

.

1,233

1,217

FW1881404.UP.FTS.B,

28.73%,

10/19/24

.

2,880

2,843

FW1880562.UP.FTS.B,

28.77%,

10/19/24

.

2,469

2,437

FW1875773.UP.FTS.B,

28.85%,

10/19/24

.

5,620

5,545

FW1877809.UP.FTS.B,

28.9%,

10/19/24

..

4,034

3,982

FW1877220.UP.FTS.B,

29.16%,

10/19/24

.

1,319

1,302

FW1874803.UP.FTS.B,

29.23%,

10/19/24

.

2,235

2,203

FW1880340.UP.FTS.B,

29.4%,

10/19/24

..

2,745

2,590

FW1991266.UP.FTS.B,

5.75%,

11/08/24

..

4,757

4,715

L1996492.UP.FTS.B,

5.82%,

11/08/24

....

1,981

1,964

L1994177.UP.FTS.B,

6.01%,

11/08/24

....

6,343

6,287

FW1997734.UP.FTS.B,

6.36%,

11/08/24

..

6,580

6,523

L1989270.UP.FTS.B,

6.75%,

11/08/24

....

5,165

5,120

L1995781.UP.FTS.B,

7.12%,

11/08/24

....

34,713

34,388

L1991938.UP.FTS.B,

7.13%,

11/08/24

....

7,829

7,760

L1997129.UP.FTS.B,

7.49%,

11/08/24

....

5,575

5,523

L1995628.UP.FTS.B,

8.15%,

11/08/24

....

2,347

2,324

L1996179.UP.FTS.B,

8.33%,

11/08/24

....

710

702

FW1989730.UP.FTS.B,

9.3%,

11/08/24

...

12,012

11,901

L1989289.UP.FTS.B,

9.6%,

11/08/24

.....

3,071

3,040

FW1988815.UP.FTS.B,

10.61%,

11/08/24

.

1,206

1,195

L1990488.UP.FTS.B,

10.69%,

11/08/24

...

11,258

11,148

L1990483.UP.FTS.B,

10.71%,

11/08/24

...

802

795

L1989128.UP.FTS.B,

11.31%,

11/08/24

...

2,014

1,994

L1997576.UP.FTS.B,

11.59%,

11/08/24

...

806

798

L1991664.UP.FTS.B,

13.31%,

11/08/24

...

5,212

5,137

L1996568.UP.FTS.B,

13.69%,

11/08/24

...

3,656

3,618

L1996783.UP.FTS.B,

13.88%,

11/08/24

...

1,623

1,607

L1989930.UP.FTS.B,

13.94%,

11/08/24

...

1,983

1,963

L1990855.UP.FTS.B,

13.97%,

11/08/24

...

1,380

1,367

L1998240.UP.FTS.B,

14.07%,

11/08/24

...

14,617

14,426

L1991934.UP.FTS.B,

14.49%,

11/08/24

...

3,659

3,623

L1999740.UP.FTS.B,

14.54%,

11/08/24

...

6,481

6,395

FW1989018.UP.FTS.B,

14.66%,

11/08/24

.

7,321

7,225

L1996950.UP.FTS.B,

14.91%,

11/08/24

...

4,079

4,037

FW1999553.UP.FTS.B,

14.97%,

11/08/24

.

814

806

L1990825.UP.FTS.B,

15.23%,

11/08/24

...

3,259

3,216

FW1991866.UP.FTS.B,

15.28%,

11/08/24

.

6,111

6,032

L1999541.UP.FTS.B,

15.36%,

11/08/24

...

815

804

L1989094.UP.FTS.B,

15.37%,

11/08/24

...

978

965

L1999521.UP.FTS.B,

15.41%,

11/08/24

...

3,683

3,630

L1992799.UP.FTS.B,

15.97%,

11/08/24

...

4,082

4,029

FW1997339.UP.FTS.B,

15.98%,

11/08/24

.

4,490

4,432

L1997806.UP.FTS.B,

16.06%,

11/08/24

...

3,851

282

L1994442.UP.FTS.B,

16.18%,

11/08/24

...

1,634

1,613

L1969331.UP.FTS.B,

16.28%,

11/08/24

...

817

807

L1993658.UP.FTS.B,

16.43%,

11/08/24

...

7,757

7,643

FW1993326.UP.FTS.B,

16.87%,

11/08/24

.

942

69

L1991018.UP.FTS.B,

17.05%,

11/08/24

...

2,047

2,021

FW1988077.UP.FTS.B,

17.51%,

11/08/24

.

2,471

2,435

FW1990414.UP.FTS.B,

17.64%,

11/08/24

.

5,624

408

L1987185.UP.FTS.B,

17.72%,

11/08/24

...

1,551

1,535

L1993345.UP.FTS.B,

18.18%,

11/08/24

...

993

979

FW1984213.UP.FTS.B,

18.47%,

11/08/24

.

2,466

2,434

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW1991976.UP.FTS.B,

18.69%,

11/08/24

.

$

3,455

$

3,410

L1998424.UP.FTS.B,

19%,

11/08/24

.....

4,198

4,144

L1990206.UP.FTS.B,

19.65%,

11/08/24

...

3,085

3,035

L1995937.UP.FTS.B,

19.73%,

11/08/24

...

10,675

10,534

L1989611.UP.FTS.B,

20.18%,

11/08/24

...

895

128

FW1998538.UP.FTS.B,

20.31%,

11/08/24

.

4,098

4,025

L1991260.UP.FTS.B,

20.4%,

11/08/24

....

13,633

13,377

L1997353.UP.FTS.B,

20.62%,

11/08/24

...

827

816

L2000015.UP.FTS.B,

20.73%,

11/08/24

...

827

816

FW1996652.UP.FTS.B,

20.84%,

11/08/24

.

1,241

1,225

L1999186.UP.FTS.B,

20.9%,

11/08/24

....

2,890

2,839

L1996884.UP.FTS.B,

21.44%,

11/08/24

...

9,943

9,813

L1991768.UP.FTS.B,

21.66%,

11/08/24

...

2,570

2,525

L1992210.UP.FTS.B,

21.73%,

11/08/24

...

2,248

2,210

L1999124.UP.FTS.B,

21.96%,

11/08/24

...

1,642

1,613

L1993163.UP.FTS.B,

22.06%,

11/08/24

...

3,306

3,247

L1990534.UP.FTS.B,

22.07%,

11/08/24

...

8,299

8,154

L1994167.UP.FTS.B,

22.19%,

11/08/24

...

2,733

2,685

FW1997760.UP.FTS.B,

22.3%,

11/08/24

..

6,626

6,509

FW1989573.UP.FTS.B,

22.36%,

11/08/24

.

1,246

1,224

L1994045.UP.FTS.B,

22.76%,

11/08/24

...

2,245

2,206

L1990650.UP.FTS.B,

23.08%,

11/08/24

...

1,886

137

FW1991109.UP.FTS.B,

23.32%,

11/08/24

.

4,163

4,090

L1994247.UP.FTS.B,

23.34%,

11/08/24

...

1,718

1,683

L1992601.UP.FTS.B,

23.37%,

11/08/24

...

1,025

1,005

L1992157.UP.FTS.B,

23.42%,

11/08/24

...

5,167

1,424

L1995328.UP.FTS.B,

23.72%,

11/08/24

...

4,171

4,098

FW1992676.UP.FTS.B,

24.35%,

11/08/24

.

2,446

2,402

FW1998906.UP.FTS.B,

25.05%,

11/08/24

.

3,163

3,102

FW1990565.UP.FTS.B,

26.42%,

11/08/24

.

2,266

2,226

FW1999321.UP.FTS.B,

26.61%,

11/08/24

.

3,779

3,713

FW1993106.UP.FTS.B,

27.22%,

11/08/24

.

2,576

1,557

FW1995096.UP.FTS.B,

27.27%,

11/08/24

.

3,275

235

FW1990425.UP.FTS.B,

27.28%,

11/08/24

.

4,204

4,131

FW1998626.UP.FTS.B,

27.42%,

11/08/24

.

2,518

2,474

FW1990874.UP.FTS.B,

27.43%,

11/08/24

.

2,176

2,137

FW1997204.UP.FTS.B,

28.06%,

11/08/24

.

4,190

4,116

FW1999593.UP.FTS.B,

28.28%,

11/08/24

.

1,686

1,656

FW1998388.UP.FTS.B,

28.53%,

11/08/24

.

1,189

1,165

FW1999260.UP.FTS.B,

28.83%,

11/08/24

.

8,558

8,406

FW1996177.UP.FTS.B,

29.18%,

11/08/24

.

2,112

2,075

FW1994083.UP.FTS.B,

29.21%,

11/08/24

.

9,124

8,965

FW1992698.UP.FTS.B,

29.42%,

11/08/24

.

1,876

1,838

L2074995.UP.FTS.B,

6.25%,

11/18/24

....

3,989

3,760

L2075196.UP.FTS.B,

6.5%,

11/18/24

.....

1,191

1,182

L2071075.UP.FTS.B,

6.65%,

11/18/24

....

7,635

7,574

L2067255.UP.FTS.B,

7.27%,

11/18/24

....

10,340

10,258

L2074894.UP.FTS.B,

7.38%,

11/18/24

....

10,351

10,271

L2070744.UP.FTS.B,

7.92%,

11/18/24

....

9,570

9,495

FW2060208.UP.FTS.B,

8.38%,

11/18/24

..

4,790

4,753

L2069743.UP.FTS.B,

8.95%,

11/18/24

....

6,400

6,350

L2074717.UP.FTS.B,

9.11%,

11/18/24

....

6,403

6,353

L2074300.UP.FTS.B,

9.14%,

11/18/24

....

16,720

16,588

L2074442.UP.FTS.B,

9.61%,

11/18/24

....

3,206

3,181

L2071958.UP.FTS.B,

10.19%,

11/18/24

...

3,613

3,585

L2073503.UP.FTS.B,

10.22%,

11/18/24

...

2,409

2,390

L2042230.UP.FTS.B,

10.36%,

11/18/24

...

964

957

L2069761.UP.FTS.B,

11.37%,

11/18/24

...

1,155

1,145

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

362

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2073296.UP.FTS.B,

11.88%,

11/18/24

...

$

7,424

$

7,368

L2074825.UP.FTS.B,

11.88%,

11/18/24

...

1,452

1,442

L2069517.UP.FTS.B,

12.06%,

11/18/24

...

8,074

8,013

L2070468.UP.FTS.B,

13.05%,

11/18/24

...

4,858

4,822

L2069667.UP.FTS.B,

13.87%,

11/18/24

...

864

229

L2071334.UP.FTS.B,

13.96%,

11/18/24

...

2,435

2,417

L2072070.UP.FTS.B,

14.5%,

11/18/24

....

2,851

2,820

FW2074290.UP.FTS.B,

14.55%,

11/18/24

.

1,209

1,199

L2074624.UP.FTS.B,

14.71%,

11/18/24

...

2,441

2,417

L2071744.UP.FTS.B,

15.58%,

11/18/24

...

7,747

7,672

L2071211.UP.FTS.B,

15.75%,

11/18/24

...

4,488

4,444

L2070735.UP.FTS.B,

15.91%,

11/18/24

...

8,978

8,890

L2069907.UP.FTS.B,

16.18%,

11/18/24

...

3,594

3,559

L2070764.UP.FTS.B,

16.31%,

11/18/24

...

2,043

2,023

L2070361.UP.FTS.B,

16.86%,

11/18/24

...

6,548

6,484

L2071251.UP.FTS.B,

17.57%,

11/18/24

...

820

812

L2043746.UP.FTS.B,

18%,

11/18/24

.....

4,926

4,878

L2073793.UP.FTS.B,

18.13%,

11/18/24

...

4,928

4,880

L2075163.UP.FTS.B,

19.13%,

11/18/24

...

4,523

4,479

L2070689.UP.FTS.B,

19.39%,

11/18/24

...

8,241

8,162

FW2072221.UP.FTS.B,

19.4%,

11/18/24

..

5,768

5,713

L2072986.UP.FTS.B,

19.5%,

11/18/24

....

7,600

7,518

L2075012.UP.FTS.B,

19.96%,

11/18/24

...

5,777

5,701

L2074218.UP.FTS.B,

20.01%,

11/18/24

...

1,549

1,464

L2074866.UP.FTS.B,

20.36%,

11/18/24

...

909

902

L2074744.UP.FTS.B,

20.69%,

11/18/24

...

4,962

4,914

L2070078.UP.FTS.B,

21.01%,

11/18/24

...

1,986

1,960

FW2070210.UP.FTS.B,

21.14%,

11/18/24

.

12,419

12,256

L2069989.UP.FTS.B,

21.94%,

11/18/24

...

7,052

6,959

FW2074575.UP.FTS.B,

21.98%,

11/18/24

.

4,149

4,094

L2075360.UP.FTS.B,

22.53%,

11/18/24

...

831

823

L2075201.UP.FTS.B,

22.55%,

11/18/24

...

2,908

2,881

L2075154.UP.FTS.B,

22.63%,

11/18/24

...

5,580

402

L2074324.UP.FTS.B,

22.74%,

11/18/24

...

1,663

1,641

FW2074886.UP.FTS.B,

23.12%,

11/18/24

.

2,497

2,464

L1959123.UP.FTS.B,

23.14%,

11/18/24

...

3,662

3,627

L2071339.UP.FTS.B,

23.22%,

11/18/24

...

8,157

8,051

L2074321.UP.FTS.B,

23.4%,

11/18/24

....

917

904

FW2074809.UP.FTS.B,

24.23%,

11/18/24

.

4,971

4,904

FW2071617.UP.FTS.B,

24.28%,

11/18/24

.

8,548

8,072

FW2074738.UP.FTS.B,

25.07%,

11/18/24

.

3,345

3,302

FW2071396.UP.FTS.B,

25.74%,

11/18/24

.

902

137

FW2073266.UP.FTS.B,

25.94%,

11/18/24

.

6,283

6,202

FW2072771.UP.FTS.B,

26.31%,

11/18/24

.

836

825

FW2073854.UP.FTS.B,

26.37%,

11/18/24

.

5,165

4,877

FW2074885.UP.FTS.B,

26.84%,

11/18/24

.

2,520

2,487

FW2073544.UP.FTS.B,

26.86%,

11/18/24

.

1,680

1,658

FW2074174.UP.FTS.B,

27.6%,

11/18/24

..

1,010

997

FW2072495.UP.FTS.B,

28.04%,

11/18/24

.

2,419

2,284

FW2074893.UP.FTS.B,

28.12%,

11/18/24

.

1,095

1,081

FW2074718.UP.FTS.B,

28.91%,

11/18/24

.

1,266

1,250

FW2074605.UP.FTS.B,

29%,

11/18/24

...

3,645

3,595

FW2071181.UP.FTS.B,

29.1%,

11/18/24

..

3,291

3,108

FW2074651.UP.FTS.B,

29.17%,

11/18/24

.

5,307

5,238

L2215514.UP.FTS.B,

6.51%,

12/09/24

....

5,660

5,614

L2218454.UP.FTS.B,

6.62%,

12/09/24

....

2,626

2,605

L2198786.UP.FTS.B,

7.35%,

12/09/24

....

5,745

5,699

L2218367.UP.FTS.B,

9.23%,

12/09/24

....

826

819

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L2214089.UP.FTS.B,

9.59%,

12/09/24

....

$

4,951

$

4,908

L2216870.UP.FTS.B,

10.32%,

12/09/24

...

3,729

3,697

FW2216772.UP.FTS.B,

10.45%,

12/09/24

.

2,072

2,054

FW2214645.UP.FTS.B,

11.71%,

12/09/24

.

4,158

4,120

L2215668.UP.FTS.B,

11.82%,

12/09/24

...

9,147

9,062

L2218473.UP.FTS.B,

11.83%,

12/09/24

...

6,490

3,632

L2218057.UP.FTS.B,

12.68%,

12/09/24

...

3,668

3,635

L2218119.UP.FTS.B,

12.83%,

12/09/24

...

1,251

1,240

FW2217503.UP.FTS.B,

13.59%,

12/09/24

.

1,671

1,656

L2217057.UP.FTS.B,

13.87%,

12/09/24

...

837

829

L2216186.UP.FTS.B,

14.13%,

12/09/24

...

2,466

2,434

L2214428.UP.FTS.B,

14.33%,

12/09/24

...

3,225

3,180

L2215847.UP.FTS.B,

15.81%,

12/09/24

...

10,082

9,953

L2216051.UP.FTS.B,

16.31%,

12/09/24

...

5,042

4,977

FW2215766.UP.FTS.B,

16.39%,

12/09/24

.

3,215

2,163

L2216899.UP.FTS.B,

16.51%,

12/09/24

...

2,514

2,481

L2215377.UP.FTS.B,

17.32%,

12/09/24

...

843

833

L2217408.UP.FTS.B,

17.74%,

12/09/24

...

1,266

1,250

L2215765.UP.FTS.B,

17.77%,

12/09/24

...

1,857

1,834

L2218636.UP.FTS.B,

17.88%,

12/09/24

...

4,698

231

L2215619.UP.FTS.B,

17.97%,

12/09/24

...

1,736

1,006

FW2215617.UP.FTS.B,

17.98%,

12/09/24

.

2,534

2,502

L2217273.UP.FTS.B,

18.07%,

12/09/24

...

1,699

1,676

FW2217838.UP.FTS.B,

18.43%,

12/09/24

.

16,878

16,662

L2216494.UP.FTS.B,

18.54%,

12/09/24

...

12,263

12,108

L2215156.UP.FTS.B,

18.88%,

12/09/24

...

6,010

5,934

FW2216954.UP.FTS.B,

19.2%,

12/09/24

..

5,241

3,045

FW2214152.UP.FTS.B,

19.21%,

12/09/24

.

2,975

2,934

FW2214394.UP.FTS.B,

19.36%,

12/09/24

.

839

828

L2215113.UP.FTS.B,

19.57%,

12/09/24

...

3,886

3,836

FW2218062.UP.FTS.B,

20.6%,

12/09/24

..

2,550

2,518

L2215879.UP.FTS.B,

21.14%,

12/09/24

...

3,690

3,624

FW2217383.UP.FTS.B,

21.29%,

12/09/24

.

4,264

199

L2214850.UP.FTS.B,

21.36%,

12/09/24

...

2,308

2,263

L2214773.UP.FTS.B,

21.94%,

12/09/24

...

2,813

2,766

L2214203.UP.FTS.B,

22.16%,

12/09/24

...

6,823

6,709

L2215694.UP.FTS.B,

22.23%,

12/09/24

...

5,118

5,033

L2214186.UP.FTS.B,

22.58%,

12/09/24

...

2,903

2,855

L2217794.UP.FTS.B,

22.85%,

12/09/24

...

1,708

1,687

L2217826.UP.FTS.B,

23.12%,

12/09/24

...

3,419

3,362

L2217187.UP.FTS.B,

23.26%,

12/09/24

...

2,993

2,943

FW2194665.UP.FTS.B,

23.32%,

12/09/24

.

1,026

1,009

L2214629.UP.FTS.B,

23.78%,

12/09/24

...

5,127

5,042

L2215391.UP.FTS.B,

24.53%,

12/09/24

...

11,166

10,978

FW2214437.UP.FTS.B,

24.67%,

12/09/24

.

3,000

217

L2217957.UP.FTS.B,

24.82%,

12/09/24

...

3,639

2,191

FW2214145.UP.FTS.B,

25.06%,

12/09/24

.

4,504

1,294

FW2214522.UP.FTS.B,

26.52%,

12/09/24

.

5,188

5,100

FW2204545.UP.FTS.B,

27.62%,

12/09/24

.

1,709

1,680

FW2214870.UP.FTS.B,

29.08%,

12/09/24

.

2,290

668

FW2200741.UP.FTS.B,

29.11%,

12/09/24

.

4,534

(21)

FW2214711.UP.FTS.B,

30.81%,

12/09/24

.

4,485

1,297

L2219730.UP.FTS.B,

6.81%,

12/10/24

....

8,210

8,144

L2218938.UP.FTS.B,

7.83%,

12/10/24

....

6,174

6,121

L2221277.UP.FTS.B,

9.11%,

12/10/24

....

8,261

8,189

L2220268.UP.FTS.B,

10.33%,

12/10/24

...

4,143

4,108

L2220173.UP.FTS.B,

10.59%,

12/10/24

...

1,648

1,634

L2220491.UP.FTS.B,

10.62%,

12/10/24

...

829

822

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

363

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2221024.UP.FTS.B,

11.5%,

12/10/24

....

$

3,574

$

3,542

FW2222089.UP.FTS.B,

11.88%,

12/10/24

.

4,160

4,123

L2220175.UP.FTS.B,

12.44%,

12/10/24

...

3,333

3,303

FW2221592.UP.FTS.B,

12.68%,

12/10/24

.

4,008

3,970

L2218889.UP.FTS.B,

13.59%,

12/10/24

...

5,047

5,001

FW2221945.UP.FTS.B,

13.84%,

12/10/24

.

1,254

1,243

L2219468.UP.FTS.B,

14.29%,

12/10/24

...

4,325

625

FW2219110.UP.FTS.B,

14.72%,

12/10/24

.

6,285

6,229

FW2219902.UP.FTS.B,

15.07%,

12/10/24

.

12,580

12,423

FW2220289.UP.FTS.B,

15.19%,

12/10/24

.

6,976

6,884

L2219054.UP.FTS.B,

16.23%,

12/10/24

...

4,626

4,568

L2221405.UP.FTS.B,

16.42%,

12/10/24

...

4,940

4,874

FW2222423.UP.FTS.B,

16.87%,

12/10/24

.

13,478

13,310

FW2220767.UP.FTS.B,

16.93%,

12/10/24

.

2,949

2,912

L2219716.UP.FTS.B,

17.42%,

12/10/24

...

5,050

4,986

FW2222355.UP.FTS.B,

17.64%,

12/10/24

.

7,596

7,501

L2222176.UP.FTS.B,

17.82%,

12/10/24

...

2,533

2,501

L2211402.UP.FTS.B,

18.17%,

12/10/24

...

2,535

2,504

L2220914.UP.FTS.B,

18.55%,

12/10/24

...

1,218

1,202

FW2219362.UP.FTS.B,

18.87%,

12/10/24

.

3,809

3,762

L2221644.UP.FTS.B,

19.1%,

12/10/24

....

4,234

4,182

FW2218182.UP.FTS.B,

19.24%,

12/10/24

.

374

368

L2220492.UP.FTS.B,

19.4%,

12/10/24

....

4,421

2,572

L2220530.UP.FTS.B,

19.78%,

12/10/24

...

2,564

2,521

L2222285.UP.FTS.B,

19.82%,

12/10/24

...

815

804

L2217930.UP.FTS.B,

20.56%,

12/10/24

...

2,549

2,518

L2222110.UP.FTS.B,

20.56%,

12/10/24

...

2,549

2,518

L2219790.UP.FTS.B,

20.59%,

12/10/24

...

4,249

4,197

FW2218657.UP.FTS.B,

21.6%,

12/10/24

..

4,436

4,372

FW2220220.UP.FTS.B,

21.76%,

12/10/24

.

2,982

2,934

L2221774.UP.FTS.B,

21.93%,

12/10/24

...

8,530

8,425

FW2219561.UP.FTS.B,

22.18%,

12/10/24

.

2,132

2,106

L2221302.UP.FTS.B,

22.2%,

12/10/24

....

6,021

5,944

FW2220602.UP.FTS.B,

22.35%,

12/10/24

.

4,437

4,365

FW2221895.UP.FTS.B,

22.51%,

12/10/24

.

5,282

3,176

L2221286.UP.FTS.B,

22.62%,

12/10/24

...

5,123

5,039

L2219681.UP.FTS.B,

23.2%,

12/10/24

....

950

935

FW2221373.UP.FTS.B,

23.4%,

12/10/24

..

2,858

81

L2219861.UP.FTS.B,

23.85%,

12/10/24

...

4,794

4,716

L2222560.UP.FTS.B,

24.11%,

12/10/24

...

2,752

1,725

L2219041.UP.FTS.B,

24.61%,

12/10/24

...

8,576

8,437

FW2221624.UP.FTS.B,

24.89%,

12/10/24

.

865

848

FW2215089.UP.FTS.B,

25.18%,

12/10/24

.

12,880

12,672

FW2220957.UP.FTS.B,

25.57%,

12/10/24

.

22,617

3,351

FW2219263.UP.FTS.B,

25.61%,

12/10/24

.

5,157

5,073

FW2220132.UP.FTS.B,

25.62%,

12/10/24

.

2,643

1,586

FW2221043.UP.FTS.B,

26.33%,

12/10/24

.

5,152

5,068

FW2222066.UP.FTS.B,

26.8%,

12/10/24

..

1,508

7

FW2219297.UP.FTS.B,

29.16%,

12/10/24

.

2,508

2,468

FW1617954.UP.FTS.B,

30.19%,

1/24/25

..

1,813

1,789

L1617985.UP.FTS.B,

24.68%,

1/25/25

....

2,796

820

L1705649.UP.FTS.B,

12.52%,

2/13/25

....

4,702

4,659

L1706431.UP.FTS.B,

14.35%,

2/13/25

....

2,818

2,653

FW1705430.UP.FTS.B,

26.41%,

2/13/25

..

2,713

2,665

FW1706392.UP.FTS.B,

28.7%,

2/13/25

...

6,620

6,508

FW1876639.UP.FTS.B,

25.42%,

3/19/25

..

1,321

1,308

FW1878061.UP.FTS.B,

25.84%,

3/19/25

..

6,756

6,360

L1989183.UP.FTS.B,

20.95%,

4/08/25

....

11,911

11,759

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L1992850.UP.FTS.B,

21.32%,

4/08/25

....

$

8,806

$

8,656

FW1999367.UP.FTS.B,

26.01%,

4/08/25

..

1,763

1,730

FW1988830.UP.FTS.B,

27.97%,

4/08/25

..

4,437

632

FW2074154.UP.FTS.B,

28.72%,

4/18/25

..

953

939

L2218347.UP.FTS.B,

8.96%,

5/09/25

....

4,507

4,479

L2220009.UP.FTS.B,

18.38%,

5/10/25

....

2,286

2,261

FW2219260.UP.FTS.B,

28.47%,

5/10/25

..

3,179

3,131

L1991908.UP.FTS.B,

22.22%,

9/08/25

....

6,084

5,974

L1410769.UP.FTS.B,

17.3%,

7/09/26

....

3,912

3,851

L1410682.UP.FTS.B,

18.43%,

7/09/26

....

7,825

7,703

L1410871.UP.FTS.B,

19.36%,

7/09/26

....

3,475

3,421

L1406959.UP.FTS.B,

19.7%,

7/09/26

....

2,263

2,228

L1410905.UP.FTS.B,

21.33%,

7/09/26

....

22,192

13,130

L1410134.UP.FTS.B,

22.14%,

7/09/26

....

4,952

1,416

L1410812.UP.FTS.B,

23.09%,

7/09/26

....

8,359

8,281

L1410647.UP.FTS.B,

25.18%,

7/09/26

....

4,430

4,394

L1410835.UP.FTS.B,

25.62%,

7/09/26

....

3,632

1,045

FW1410806.UP.FTS.B,

26.55%,

7/09/26

..

1,939

1,925

FW1410803.UP.FTS.B,

28.82%,

7/09/26

..

5,737

5,691

FW1410862.UP.FTS.B,

30.65%,

7/09/26

..

1,891

1,876

L1612483.UP.FTS.B,

6.75%,

8/23/26

....

8,409

8,375

L1612245.UP.FTS.B,

7.13%,

8/23/26

....

4,035

4,019

L1612759.UP.FTS.B,

7.7%,

8/23/26

.....

4,643

4,616

L1613034.UP.FTS.B,

10.28%,

8/23/26

....

25,378

25,186

L1613031.UP.FTS.B,

10.95%,

8/23/26

....

16,469

16,338

L1613160.UP.FTS.B,

11.35%,

8/23/26

....

26,180

25,980

L1612342.UP.FTS.B,

11.46%,

8/23/26

....

42,824

42,511

L1612472.UP.FTS.B,

11.46%,

8/23/26

....

9,122

9,018

L1612983.UP.FTS.B,

11.8%,

8/23/26

.....

44,564

11,423

L1612198.UP.FTS.B,

11.94%,

8/23/26

....

11,139

11,057

FW1612119.UP.FTS.B,

13.33%,

8/23/26

..

17,606

17,474

L1606587.UP.FTS.B,

14.39%,

8/23/26

....

43,261

42,948

FW1608509.UP.FTS.B,

14.45%,

8/23/26

..

402

398

L1612751.UP.FTS.B,

14.6%,

8/23/26

....

12,995

12,866

FW1612446.UP.FTS.B,

14.89%,

8/23/26

..

3,199

3,175

L1612460.UP.FTS.B,

14.95%,

8/23/26

....

13,011

12,882

L1611811.UP.FTS.B,

15.17%,

8/23/26

....

17,528

17,345

L1611804.UP.FTS.B,

15.57%,

8/23/26

....

3,751

248

FW1611006.UP.FTS.B,

15.64%,

8/23/26

..

18,257

18,120

L1611958.UP.FTS.B,

16.45%,

8/23/26

....

10,059

9,948

L1613087.UP.FTS.B,

17.25%,

8/23/26

....

6,990

6,906

L1613097.UP.FTS.B,

17.66%,

8/23/26

....

814

804

L1613141.UP.FTS.B,

18.36%,

8/23/26

....

5,265

5,202

L1612462.UP.FTS.B,

18.65%,

8/23/26

....

8,670

8,560

L1611722.UP.FTS.B,

19.13%,

8/23/26

....

7,038

6,953

FW1613143.UP.FTS.B,

19.39%,

8/23/26

..

17,609

17,397

L1612696.UP.FTS.B,

19.76%,

8/23/26

....

9,697

9,660

L1612946.UP.FTS.B,

20.18%,

8/23/26

....

30,893

30,776

L1611808.UP.FTS.B,

20.24%,

8/23/26

....

8,828

8,795

L1611110.UP.FTS.B,

20.52%,

8/23/26

....

15,905

15,845

L1612910.UP.FTS.B,

20.88%,

8/23/26

....

6,116

441

L1611787.UP.FTS.B,

20.92%,

8/23/26

....

13,271

13,221

FW1613287.UP.FTS.B,

21.05%,

8/23/26

..

2,655

2,645

L1611961.UP.FTS.B,

21.45%,

8/23/26

....

4,874

4,856

L1611980.UP.FTS.B,

21.62%,

8/23/26

....

3,547

3,534

L1611864.UP.FTS.B,

21.84%,

8/23/26

....

6,442

995

L1612389.UP.FTS.B,

21.85%,

8/23/26

....

5,667

5,598

L1612410.UP.FTS.B,

21.86%,

8/23/26

....

4,271

4,215

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

364

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L1606808.UP.FTS.B,

22.21%,

8/23/26

....

$

14,216

$

14,163

L1611337.UP.FTS.B,

22.25%,

8/23/26

....

16,701

16,637

FW1607221.UP.FTS.B,

22.53%,

8/23/26

..

21,829

21,728

FW1612398.UP.FTS.B,

22.84%,

8/23/26

..

9,093

9,043

L1612489.UP.FTS.B,

23.23%,

8/23/26

....

3,659

3,639

FW1613265.UP.FTS.B,

23.28%,

8/23/26

..

5,347

5,327

L1612356.UP.FTS.B,

23.75%,

8/23/26

....

35,396

35,222

L1612268.UP.FTS.B,

24.09%,

8/23/26

....

2,217

2,186

FW1612756.UP.FTS.B,

24.22%,

8/23/26

..

6,150

6,121

L1612307.UP.FTS.B,

24.25%,

8/23/26

....

9,537

678

L1612158.UP.FTS.B,

24.51%,

8/23/26

....

15,653

15,593

L1612902.UP.FTS.B,

24.91%,

8/23/26

....

13,322

13,263

L1605896.UP.FTS.B,

25.03%,

8/23/26

....

27,390

27,237

L1612867.UP.FTS.B,

25.04%,

8/23/26

....

1,612

1,606

L1611991.UP.FTS.B,

25.15%,

8/23/26

....

2,379

2,364

L1613022.UP.FTS.B,

25.17%,

8/23/26

....

5,371

5,350

L1612115.UP.FTS.B,

25.2%,

8/23/26

.....

1,075

1,071

L1612430.UP.FTS.B,

25.3%,

8/23/26

....

986

982

L1610778.UP.FTS.B,

25.4%,

8/23/26

....

3,798

3,780

L1613013.UP.FTS.B,

25.41%,

8/23/26

....

1,792

1,786

L1612935.UP.FTS.B,

25.45%,

8/23/26

....

1,524

1,519

L1612908.UP.FTS.B,

25.56%,

8/23/26

....

1,420

38

L1612475.UP.FTS.B,

25.7%,

8/23/26

....

1,206

1,199

L1612818.UP.FTS.B,

26.11%,

8/23/26

....

828

817

L1613041.UP.FTS.B,

26.53%,

8/23/26

....

5,514

5,482

FW1612104.UP.FTS.B,

26.59%,

8/23/26

..

10,348

737

FW1612224.UP.FTS.B,

26.73%,

8/23/26

..

1,952

105

L1612612.UP.FTS.B,

26.83%,

8/23/26

....

1,953

302

L1613033.UP.FTS.B,

26.95%,

8/23/26

....

4,294

1,285

FW1612781.UP.FTS.B,

27.12%,

8/23/26

..

9,002

8,967

FW1612416.UP.FTS.B,

27.52%,

8/23/26

..

8,953

8,914

FW1612108.UP.FTS.B,

27.61%,

8/23/26

..

3,052

3,021

FW1612304.UP.FTS.B,

28.02%,

8/23/26

..

5,446

5,416

FW1612359.UP.FTS.B,

28.35%,

8/23/26

..

17,453

17,358

FW1613295.UP.FTS.B,

28.65%,

8/23/26

..

9,420

320

FW1611792.UP.FTS.B,

28.67%,

8/23/26

..

6,337

6,305

FW1613232.UP.FTS.B,

29.47%,

8/23/26

..

1,110

331

FW1612593.UP.FTS.B,

29.96%,

8/23/26

..

23,601

23,509

FW1613053.UP.FTS.B,

30.42%,

8/23/26

..

807

798

FW1612948.UP.FTS.B,

30.7%,

8/23/26

...

9,095

9,060

FW1598463.UP.FTS.B,

30.71%,

8/23/26

..

13,642

13,589

FW1612884.UP.FTS.B,

30.9%,

8/23/26

...

2,760

2,745

FW1610809.UP.FTS.B,

31.14%,

8/23/26

..

2,640

2,630

FW1613237.UP.FTS.B,

31.25%,

8/23/26

..

11,626

1,803

FW1611776.UP.FTS.B,

31.69%,

8/23/26

..

5,870

5,833

FW1611607.UP.FTS.B,

31.84%,

8/23/26

..

2,854

2,839

FW1612126.UP.FTS.B,

32.02%,

8/23/26

..

4,388

4,363

FW1612221.UP.FTS.B,

33.09%,

8/23/26

..

7,685

7,655

L1613929.UP.FTS.B,

6.38%,

8/24/26

....

12,594

12,544

L1616813.UP.FTS.B,

7.47%,

8/24/26

....

4,216

4,200

L1614711.UP.FTS.B,

8.06%,

8/24/26

.....

4,226

4,203

L1613779.UP.FTS.B,

8.38%,

8/24/26

....

11,853

11,786

L1617369.UP.FTS.B,

8.58%,

8/24/26

....

13,769

13,692

L1614080.UP.FTS.B,

9.53%,

8/24/26

....

2,585

2,571

FW1618242.UP.FTS.B,

10.05%,

8/24/26

..

12,778

12,708

L1616604.UP.FTS.B,

10.09%,

8/24/26

....

12,355

12,266

L1613335.UP.FTS.B,

10.66%,

8/24/26

....

1,281

1,274

L1618136.UP.FTS.B,

10.88%,

8/24/26

....

4,273

4,243

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L1616625.UP.FTS.B,

11.18%,

8/24/26

....

$

11,979

$

11,893

L1615613.UP.FTS.B,

11.71%,

8/24/26

....

5,487

5,447

L1614345.UP.FTS.B,

12.28%,

8/24/26

....

3,425

3,400

L1614068.UP.FTS.B,

12.29%,

8/24/26

....

12,045

11,946

L1617085.UP.FTS.B,

12.5%,

8/24/26

....

11,017

10,935

L1613877.UP.FTS.B,

13.09%,

8/24/26

....

12,925

12,833

L1613838.UP.FTS.B,

13.27%,

8/24/26

....

859

853

L1615725.UP.FTS.B,

13.27%,

8/24/26

....

4,656

4,623

L1617795.UP.FTS.B,

13.57%,

8/24/26

....

21,579

21,426

L1614941.UP.FTS.B,

13.72%,

8/24/26

....

8,528

8,466

L1616432.UP.FTS.B,

13.96%,

8/24/26

....

15,404

15,289

L1614273.UP.FTS.B,

14.09%,

8/24/26

....

9,515

9,445

FW1615867.UP.FTS.B,

14.28%,

8/24/26

..

7,765

7,709

FW1614076.UP.FTS.B,

14.66%,

8/24/26

..

8,633

8,571

L1615205.UP.FTS.B,

15.01%,

8/24/26

....

477

472

L1615692.UP.FTS.B,

15.67%,

8/24/26

....

6,063

6,020

L1617268.UP.FTS.B,

15.74%,

8/24/26

....

2,173

2,158

L1617016.UP.FTS.B,

15.82%,

8/24/26

....

15,139

14,992

L1618223.UP.FTS.B,

16.48%,

8/24/26

....

9,716

9,617

L1616977.UP.FTS.B,

16.49%,

8/24/26

....

2,580

2,554

L1614363.UP.FTS.B,

16.55%,

8/24/26

....

6,337

930

L1616510.UP.FTS.B,

16.59%,

8/24/26

....

5,743

417

L1617004.UP.FTS.B,

16.62%,

8/24/26

....

5,235

5,184

L1613683.UP.FTS.B,

16.65%,

8/24/26

....

5,636

5,580

FW1613769.UP.FTS.B,

16.69%,

8/24/26

..

4,363

4,311

L1614266.UP.FTS.B,

16.7%,

8/24/26

....

2,705

2,679

L1616581.UP.FTS.B,

16.94%,

8/24/26

....

2,609

2,583

L1614751.UP.FTS.B,

17.63%,

8/24/26

....

13,131

12,977

L1618185.UP.FTS.B,

18.18%,

8/24/26

....

10,524

10,422

FW1615973.UP.FTS.B,

18.52%,

8/24/26

..

19,585

19,334

L1614375.UP.FTS.B,

18.88%,

8/24/26

....

7,032

6,949

L1616929.UP.FTS.B,

19.05%,

8/24/26

....

8,795

8,692

L1617080.UP.FTS.B,

19.1%,

8/24/26

....

6,157

6,098

L1613574.UP.FTS.B,

19.14%,

8/24/26

....

2,639

2,608

L1617202.UP.FTS.B,

19.24%,

8/24/26

....

2,640

2,615

L1618259.UP.FTS.B,

19.27%,

8/24/26

....

7,041

7,017

L1613957.UP.FTS.B,

19.33%,

8/24/26

....

9,683

9,569

L1617047.UP.FTS.B,

19.37%,

8/24/26

....

3,169

3,159

L1616477.UP.FTS.B,

19.45%,

8/24/26

....

5,284

5,222

L1597028.UP.FTS.B,

19.71%,

8/24/26

....

4,532

4,476

L1614886.UP.FTS.B,

19.82%,

8/24/26

....

9,874

9,779

L1617537.UP.FTS.B,

20.26%,

8/24/26

....

3,267

3,228

L1613565.UP.FTS.B,

20.3%,

8/24/26

....

913

18

L1616760.UP.FTS.B,

20.32%,

8/24/26

....

7,506

7,481

L1600527.UP.FTS.B,

20.35%,

8/24/26

....

8,516

8,407

L1613477.UP.FTS.B,

20.77%,

8/24/26

....

3,530

3,488

FW1613781.UP.FTS.B,

20.91%,

8/24/26

..

17,839

17,752

FW1617124.UP.FTS.B,

21.09%,

8/24/26

..

25,770

25,629

L1613128.UP.FTS.B,

21.09%,

8/24/26

....

44,260

43,740

L1614925.UP.FTS.B,

21.15%,

8/24/26

....

853

849

FW1617037.UP.FTS.B,

21.16%,

8/24/26

..

8,835

8,804

L1617008.UP.FTS.B,

21.28%,

8/24/26

....

2,835

2,825

FW1617548.UP.FTS.B,

21.5%,

8/24/26

...

4,254

4,240

L1615113.UP.FTS.B,

21.5%,

8/24/26

.....

2,939

2,925

FW1616680.UP.FTS.B,

21.59%,

8/24/26

..

10,639

10,514

FW1615331.UP.FTS.B,

21.76%,

8/24/26

..

21,354

21,245

FW1616224.UP.FTS.B,

21.78%,

8/24/26

..

1,331

1,326

L1616494.UP.FTS.B,

21.88%,

8/24/26

....

8,919

8,870

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

365

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

FW1614688.UP.FTS.B,

21.95%,

8/24/26

..

$

10,354

$

743

L1615740.UP.FTS.B,

22.58%,

8/24/26

....

3,557

3,545

L1617797.UP.FTS.B,

22.65%,

8/24/26

....

29,351

29,249

L1614645.UP.FTS.B,

22.79%,

8/24/26

....

2,847

2,838

L1613261.UP.FTS.B,

22.8%,

8/24/26

....

3,026

3,015

L1615061.UP.FTS.B,

22.82%,

8/24/26

....

2,742

807

L1617314.UP.FTS.B,

23.08%,

8/24/26

....

2,213

2,205

FW1614723.UP.FTS.B,

23.32%,

8/24/26

..

13,368

13,322

FW1614111.UP.FTS.B,

23.36%,

8/24/26

..

10,695

10,658

L1617338.UP.FTS.B,

23.46%,

8/24/26

....

2,229

2,221

L1617363.UP.FTS.B,

23.46%,

8/24/26

....

7,077

7,006

FW1616273.UP.FTS.B,

23.5%,

8/24/26

...

874

870

FW1617458.UP.FTS.B,

23.54%,

8/24/26

..

9,810

9,776

FW1616445.UP.FTS.B,

23.57%,

8/24/26

..

4,459

4,417

L1615756.UP.FTS.B,

23.61%,

8/24/26

....

8,920

8,889

L1607649.UP.FTS.B,

23.71%,

8/24/26

....

1,338

1,323

FW1616613.UP.FTS.B,

23.91%,

8/24/26

..

15,625

15,571

L1615616.UP.FTS.B,

23.96%,

8/24/26

....

6,541

6,492

L1616072.UP.FTS.B,

24%,

8/24/26

......

5,589

5,560

L1614419.UP.FTS.B,

24.11%,

8/24/26

....

889

885

L1615372.UP.FTS.B,

24.2%,

8/24/26

....

11,616

11,576

L1617018.UP.FTS.B,

24.39%,

8/24/26

....

4,724

739

L1614191.UP.FTS.B,

24.4%,

8/24/26

....

3,741

3,727

L1599086.UP.FTS.B,

24.44%,

8/24/26

....

7,107

7,079

L1617370.UP.FTS.B,

24.47%,

8/24/26

....

9,755

9,716

L1616231.UP.FTS.B,

24.63%,

8/24/26

....

9,518

1,492

FW1618156.UP.FTS.B,

24.82%,

8/24/26

..

44,171

43,988

L1614289.UP.FTS.B,

24.87%,

8/24/26

....

2,775

2,766

FW1613731.UP.FTS.B,

24.96%,

8/24/26

..

17,014

16,955

L1616949.UP.FTS.B,

24.98%,

8/24/26

....

14,343

1,008

FW1615802.UP.FTS.B,

24.99%,

8/24/26

..

2,857

2,847

L1617884.UP.FTS.B,

24.99%,

8/24/26

....

1,075

1,071

FW1616803.UP.FTS.B,

25.11%,

8/24/26

..

4,479

4,464

L1617253.UP.FTS.B,

25.15%,

8/24/26

....

12,544

12,500

FW1613802.UP.FTS.B,

25.17%,

8/24/26

..

2,688

2,679

FW1591289.UP.FTS.B,

25.18%,

8/24/26

..

3,047

3,036

L1613599.UP.FTS.B,

25.21%,

8/24/26

....

2,240

2,232

L1613633.UP.FTS.B,

25.23%,

8/24/26

....

6,702

6,622

L1616132.UP.FTS.B,

25.25%,

8/24/26

....

1,075

1,072

L1614745.UP.FTS.B,

25.32%,

8/24/26

....

6,276

6,255

L1614834.UP.FTS.B,

25.32%,

8/24/26

....

5,161

5,134

FW1603076.UP.FTS.B,

25.34%,

8/24/26

..

28,937

28,801

L1614231.UP.FTS.B,

25.4%,

8/24/26

....

1,704

1,698

L1616175.UP.FTS.B,

25.43%,

8/24/26

....

3,856

3,842

L1616607.UP.FTS.B,

25.48%,

8/24/26

....

4,177

4,160

L1614943.UP.FTS.B,

25.57%,

8/24/26

....

6,879

6,842

L1613168.UP.FTS.B,

25.62%,

8/24/26

....

6,462

6,432

FW1613460.UP.FTS.B,

25.66%,

8/24/26

..

5,559

5,539

FW1616899.UP.FTS.B,

25.66%,

8/24/26

..

2,542

2,526

FW1618114.UP.FTS.B,

25.78%,

8/24/26

..

2,872

2,862

FW1618301.UP.FTS.B,

25.83%,

8/24/26

..

23,691

1,674

FW1615292.UP.FTS.B,

25.84%,

8/24/26

..

9,278

9,230

L1613360.UP.FTS.B,

25.85%,

8/24/26

....

4,650

1,390

L1617870.UP.FTS.B,

25.85%,

8/24/26

....

18,911

18,826

FW1615373.UP.FTS.B,

25.87%,

8/24/26

..

14,360

1,025

FW1615728.UP.FTS.B,

25.9%,

8/24/26

...

4,542

4,516

L1615232.UP.FTS.B,

25.93%,

8/24/26

....

3,861

3,848

FW1613979.UP.FTS.B,

26.13%,

8/24/26

..

866

862

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L1616336.UP.FTS.B,

26.22%,

8/24/26

....

$

5,445

$

5,424

FW1614557.UP.FTS.B,

26.33%,

8/24/26

..

10,787

10,750

L1597917.UP.FTS.B,

26.39%,

8/24/26

....

3,004

473

FW1615022.UP.FTS.B,

26.47%,

8/24/26

..

5,396

5,377

L1617509.UP.FTS.B,

26.53%,

8/24/26

....

5,497

5,468

FW1614430.UP.FTS.B,

26.68%,

8/24/26

..

9,208

1,443

FW1616218.UP.FTS.B,

26.77%,

8/24/26

..

2,790

2,752

FW1615207.UP.FTS.B,

26.92%,

8/24/26

..

2,252

2,242

FW1614643.UP.FTS.B,

27.02%,

8/24/26

..

9,252

2,752

FW1614996.UP.FTS.B,

27.38%,

8/24/26

..

13,677

13,611

FW1616600.UP.FTS.B,

27.4%,

8/24/26

...

6,699

6,671

FW1617924.UP.FTS.B,

27.4%,

8/24/26

...

7,213

7,188

FW1617995.UP.FTS.B,

27.41%,

8/24/26

..

5,212

5,192

FW1614841.UP.FTS.B,

27.56%,

8/24/26

..

2,616

2,607

FW1613197.UP.FTS.B,

28.07%,

8/24/26

..

32,787

32,672

FW1583303.UP.FTS.B,

28.11%,

8/24/26

..

16,668

16,573

FW1611723.UP.FTS.B,

28.21%,

8/24/26

..

7,229

7,204

FW1613690.UP.FTS.B,

28.43%,

8/24/26

..

4,518

4,502

FW1615415.UP.FTS.B,

28.87%,

8/24/26

..

9,463

86

FW1617241.UP.FTS.B,

28.98%,

8/24/26

..

4,527

4,511

FW1613956.UP.FTS.B,

28.99%,

8/24/26

..

1,853

1,842

FW1616140.UP.FTS.B,

29.44%,

8/24/26

..

9,707

105

FW1616326.UP.FTS.B,

29.5%,

8/24/26

...

1,430

100

FW1618115.UP.FTS.B,

29.51%,

8/24/26

..

10,920

10,863

FW1614066.UP.FTS.B,

29.58%,

8/24/26

..

5,026

5,005

FW1617403.UP.FTS.B,

29.66%,

8/24/26

..

7,066

7,028

FW1617836.UP.FTS.B,

29.73%,

8/24/26

..

3,629

3,616

FW1614632.UP.FTS.B,

29.76%,

8/24/26

..

1,342

1,332

FW1613466.UP.FTS.B,

30.19%,

8/24/26

..

1,361

1,356

FW1616426.UP.FTS.B,

30.21%,

8/24/26

..

1,668

500

FW1614078.UP.FTS.B,

30.3%,

8/24/26

...

1,726

1,720

FW1613869.UP.FTS.B,

30.42%,

8/24/26

..

1,182

1,177

FW1616263.UP.FTS.B,

30.46%,

8/24/26

..

3,344

232

FW1615160.UP.FTS.B,

30.49%,

8/24/26

..

6,691

80

FW1614135.UP.FTS.B,

30.54%,

8/24/26

..

13,636

13,588

FW1615250.UP.FTS.B,

30.57%,

8/24/26

..

1,818

1,811

FW1614395.UP.FTS.B,

30.78%,

8/24/26

..

3,213

2

FW1618160.UP.FTS.B,

30.92%,

8/24/26

..

2,103

146

FW1615073.UP.FTS.B,

30.97%,

8/24/26

..

2,730

2,721

FW1617694.UP.FTS.B,

31%,

8/24/26

....

1,766

1,755

FW1612909.UP.FTS.B,

31.01%,

8/24/26

..

1,151

1,145

FW1617590.UP.FTS.B,

31.04%,

8/24/26

..

2,276

2,268

FW1617603.UP.FTS.B,

31.1%,

8/24/26

...

2,300

2,288

FW1615354.UP.FTS.B,

31.17%,

8/24/26

..

11,746

11,705

FW1616948.UP.FTS.B,

31.18%,

8/24/26

..

6,373

6,338

FW1616577.UP.FTS.B,

31.21%,

8/24/26

..

1,891

(7)

FW1616220.UP.FTS.B,

31.24%,

8/24/26

..

4,427

4,409

FW1614673.UP.FTS.B,

31.31%,

8/24/26

..

1,002

998

FW1617796.UP.FTS.B,

31.5%,

8/24/26

...

3,190

3,178

FW1616936.UP.FTS.B,

31.7%,

8/24/26

...

7,932

7,904

FW1615534.UP.FTS.B,

31.81%,

8/24/26

..

4,099

4,080

FW1613923.UP.FTS.B,

31.84%,

8/24/26

..

4,795

331

FW1614110.UP.FTS.B,

32.03%,

8/24/26

..

3,924

3,910

FW1616102.UP.FTS.B,

32.95%,

8/24/26

..

4,207

4,192

L1621070.UP.FTS.B,

8.8%,

8/25/26

.....

25,433

25,304

L1619126.UP.FTS.B,

9.43%,

8/25/26

....

8,499

8,456

L1618202.UP.FTS.B,

10.07%,

8/25/26

....

4,260

4,232

L1619514.UP.FTS.B,

10.85%,

8/25/26

....

4,253

4,225

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

366

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L1619565.UP.FTS.B,

11.35%,

8/25/26

....

$

6,935

$

6,890

L1619757.UP.FTS.B,

12.57%,

8/25/26

....

6,877

6,833

L1617914.UP.FTS.B,

12.61%,

8/25/26

....

4,301

4,273

L1572047.UP.FTS.B,

12.99%,

8/25/26

....

5,685

5,648

L1620282.UP.FTS.B,

13.89%,

8/25/26

....

10,343

10,277

L1617383.UP.FTS.B,

14.86%,

8/25/26

....

6,859

335

L1620912.UP.FTS.B,

14.91%,

8/25/26

....

4,337

4,309

L1620125.UP.FTS.B,

15.38%,

8/25/26

....

869

861

L1619050.UP.FTS.B,

15.55%,

8/25/26

....

3,481

3,449

FW1619311.UP.FTS.B,

16.02%,

8/25/26

..

5,225

5,179

L1618177.UP.FTS.B,

16.15%,

8/25/26

....

3,203

137

L1620917.UP.FTS.B,

16.21%,

8/25/26

....

8,712

8,636

L1619343.UP.FTS.B,

16.69%,

8/25/26

....

9,567

9,483

L1619826.UP.FTS.B,

16.95%,

8/25/26

....

13,957

13,807

FW1619065.UP.FTS.B,

16.98%,

8/25/26

..

21,838

21,649

L1619610.UP.FTS.B,

17.18%,

8/25/26

....

4,358

4,311

L1618810.UP.FTS.B,

17.27%,

8/25/26

....

15,214

15,052

L1617912.UP.FTS.B,

17.57%,

8/25/26

....

5,366

1,513

L1620043.UP.FTS.B,

17.72%,

8/25/26

....

2,763

2,745

L1618708.UP.FTS.B,

19.03%,

8/25/26

....

17,601

17,492

L1619285.UP.FTS.B,

19.51%,

8/25/26

....

22,490

22,237

FW1618685.UP.FTS.B,

19.7%,

8/25/26

...

8,822

8,768

L1619055.UP.FTS.B,

19.81%,

8/25/26

....

2,645

2,639

FW1618558.UP.FTS.B,

20.33%,

8/25/26

..

4,857

4,806

L1618902.UP.FTS.B,

21.03%,

8/25/26

....

4,939

4,923

L1618616.UP.FTS.B,

21.44%,

8/25/26

....

8,862

8,843

L1615763.UP.FTS.B,

22.54%,

8/25/26

....

2,701

2,693

L1618701.UP.FTS.B,

22.67%,

8/25/26

....

2,669

2,664

FW1620348.UP.FTS.B,

22.68%,

8/25/26

..

3,424

3,384

FW1619947.UP.FTS.B,

22.69%,

8/25/26

..

1,803

1,778

L1620763.UP.FTS.B,

23.08%,

8/25/26

....

4,809

4,799

L1620526.UP.FTS.B,

23.25%,

8/25/26

....

1,782

1,778

L1619382.UP.FTS.B,

24.38%,

8/25/26

....

14,194

1,000

L1618855.UP.FTS.B,

24.48%,

8/25/26

....

2,461

734

L1619423.UP.FTS.B,

24.53%,

8/25/26

....

3,148

3,136

L1619251.UP.FTS.B,

24.92%,

8/25/26

....

1,970

1,966

L1619746.UP.FTS.B,

25.05%,

8/25/26

....

5,733

5,721

L1621031.UP.FTS.B,

25.07%,

8/25/26

....

5,375

5,364

L1620511.UP.FTS.B,

25.13%,

8/25/26

....

1,523

1,520

L1616129.UP.FTS.B,

25.18%,

8/25/26

....

1,370

1,365

L1618437.UP.FTS.B,

25.3%,

8/25/26

....

9,363

9,326

L1619585.UP.FTS.B,

25.33%,

8/25/26

....

6,544

6,531

L1603724.UP.FTS.B,

25.36%,

8/25/26

....

1,255

1,253

L1601875.UP.FTS.B,

25.4%,

8/25/26

....

7,391

7,362

L1618792.UP.FTS.B,

25.43%,

8/25/26

....

3,049

3,043

L1619028.UP.FTS.B,

25.43%,

8/25/26

....

7,084

7,070

FW1620759.UP.FTS.B,

25.44%,

8/25/26

..

3,587

3,580

L1621068.UP.FTS.B,

25.46%,

8/25/26

....

3,766

3,759

FW1617532.UP.FTS.B,

25.68%,

8/25/26

..

2,692

2,687

L1619128.UP.FTS.B,

25.91%,

8/25/26

....

8,965

2,669

L1620151.UP.FTS.B,

26.66%,

8/25/26

....

14,311

14,259

FW1619681.UP.FTS.B,

27.38%,

8/25/26

..

8,592

8,572

FW1620817.UP.FTS.B,

28.14%,

8/25/26

..

2,751

821

FW1587758.UP.FTS.B,

28.29%,

8/25/26

..

937

147

FW1620588.UP.FTS.B,

28.29%,

8/25/26

..

3,808

266

FW1615921.UP.FTS.B,

28.4%,

8/25/26

...

16,453

16,423

FW1618334.UP.FTS.B,

28.78%,

8/25/26

..

15,682

2,485

FW1618777.UP.FTS.B,

29.12%,

8/25/26

..

14,279

14,193

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW1619445.UP.FTS.B,

29.19%,

8/25/26

..

$

9,342

$

1,463

FW1620982.UP.FTS.B,

29.78%,

8/25/26

..

27,999

27,899

FW1618819.UP.FTS.B,

30.18%,

8/25/26

..

2,433

2,427

FW1618172.UP.FTS.B,

31.12%,

8/25/26

..

7,375

7,362

FW1618300.UP.FTS.B,

31.51%,

8/25/26

..

5,685

5,671

L1705668.UP.FTS.B,

7.09%,

9/13/26

....

42,834

42,554

L1706439.UP.FTS.B,

8.12%,

9/13/26

....

8,281

8,224

L1699091.UP.FTS.B,

8.91%,

9/13/26

....

43,116

42,836

L1706771.UP.FTS.B,

9.86%,

9/13/26

....

15,573

15,435

FW1703655.UP.FTS.B,

10.14%,

9/13/26

..

3,897

3,862

L1706528.UP.FTS.B,

10.16%,

9/13/26

....

6,063

6,009

FW1705224.UP.FTS.B,

10.49%,

9/13/26

..

21,677

21,484

L1704959.UP.FTS.B,

10.56%,

9/13/26

....

6,076

6,021

L1694396.UP.FTS.B,

11.41%,

9/13/26

....

8,674

8,597

L1706158.UP.FTS.B,

11.42%,

9/13/26

....

3,479

3,448

L1699795.UP.FTS.B,

11.82%,

9/13/26

....

7,839

7,769

L1706793.UP.FTS.B,

12.07%,

9/13/26

....

12,200

12,092

L1706436.UP.FTS.B,

12.13%,

9/13/26

....

3,052

3,025

L1706444.UP.FTS.B,

12.27%,

9/13/26

....

5,234

5,187

L1704834.UP.FTS.B,

12.73%,

9/13/26

....

7,863

7,793

L1705316.UP.FTS.B,

12.75%,

9/13/26

....

5,067

5,022

FW1705178.UP.FTS.B,

12.84%,

9/13/26

..

43,671

43,282

FW1704880.UP.FTS.B,

13.22%,

9/13/26

..

7,106

6,680

FW1704921.UP.FTS.B,

13.23%,

9/13/26

..

1,648

1,632

L1706652.UP.FTS.B,

13.34%,

9/13/26

....

18,924

18,750

L1706518.UP.FTS.B,

13.48%,

9/13/26

....

876

868

FW1704941.UP.FTS.B,

14.48%,

9/13/26

..

13,032

12,864

L1705580.UP.FTS.B,

14.66%,

9/13/26

....

16,264

16,060

L1706707.UP.FTS.B,

14.84%,

9/13/26

....

17,592

17,436

L1705884.UP.FTS.B,

14.95%,

9/13/26

....

7,919

7,820

L1705631.UP.FTS.B,

14.99%,

9/13/26

....

14,961

14,773

L1706863.UP.FTS.B,

15.07%,

9/13/26

....

4,589

657

L1706806.UP.FTS.B,

15.22%,

9/13/26

....

6,869

6,809

L1705731.UP.FTS.B,

15.3%,

9/13/26

....

14,155

13,974

L1704776.UP.FTS.B,

15.5%,

9/13/26

....

6,170

6,093

FW1705595.UP.FTS.B,

15.51%,

9/13/26

..

13,195

13,028

FW1701565.UP.FTS.B,

15.8%,

9/13/26

...

22,175

21,860

L1706683.UP.FTS.B,

16.01%,

9/13/26

....

2,119

2,100

L1705287.UP.FTS.B,

16.2%,

9/13/26

....

10,159

10,031

L1705917.UP.FTS.B,

16.39%,

9/13/26

....

4,420

4,364

L1705607.UP.FTS.B,

16.78%,

9/13/26

....

26,548

26,213

L1707055.UP.FTS.B,

16.78%,

9/13/26

....

4,332

4,275

FW1707042.UP.FTS.B,

16.94%,

9/13/26

..

12,146

11,985

L1705598.UP.FTS.B,

17.01%,

9/13/26

....

2,568

2,536

L1706718.UP.FTS.B,

17.25%,

9/13/26

....

4,551

1,225

FW1706882.UP.FTS.B,

17.33%,

9/13/26

..

4,103

4,051

L1699552.UP.FTS.B,

17.37%,

9/13/26

....

3,723

3,666

FW1705124.UP.FTS.B,

18.03%,

9/13/26

..

45,610

12,646

L1706107.UP.FTS.B,

18.07%,

9/13/26

....

11,549

11,372

L1706066.UP.FTS.B,

18.08%,

9/13/26

....

5,970

5,863

FW1706809.UP.FTS.B,

18.19%,

9/13/26

..

15,463

15,268

L1705021.UP.FTS.B,

18.29%,

9/13/26

....

7,144

7,032

FW1706139.UP.FTS.B,

18.73%,

9/13/26

..

9,357

331

FW1701942.UP.FTS.B,

19.32%,

9/13/26

..

13,375

13,169

L1706117.UP.FTS.B,

19.33%,

9/13/26

....

3,567

3,512

L1705225.UP.FTS.B,

19.41%,

9/13/26

....

4,311

4,241

FW1705472.UP.FTS.B,

19.5%,

9/13/26

...

7,100

7,009

L1705864.UP.FTS.B,

19.54%,

9/13/26

....

27,674

27,452

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

367

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L1700079.UP.FTS.B,

19.55%,

9/13/26

....

$

19,263

$

1,376

L1704972.UP.FTS.B,

19.67%,

9/13/26

....

40,163

39,839

L1705068.UP.FTS.B,

19.72%,

9/13/26

....

1,785

1,758

FW1703178.UP.FTS.B,

19.77%,

9/13/26

..

5,767

5,676

L1705495.UP.FTS.B,

19.78%,

9/13/26

....

2,678

2,657

L1705415.UP.FTS.B,

19.86%,

9/13/26

....

8,481

8,351

L1699219.UP.FTS.B,

19.88%,

9/13/26

....

12,451

12,347

L1706913.UP.FTS.B,

20.18%,

9/13/26

....

6,591

6,536

L1705062.UP.FTS.B,

20.27%,

9/13/26

....

1,788

1,774

L1705666.UP.FTS.B,

20.28%,

9/13/26

....

2,030

1,994

L1705855.UP.FTS.B,

20.56%,

9/13/26

....

6,264

6,167

L1706223.UP.FTS.B,

20.97%,

9/13/26

....

13,825

13,087

L1706832.UP.FTS.B,

21.04%,

9/13/26

....

5,328

5,281

L1706003.UP.FTS.B,

21.07%,

9/13/26

....

6,273

6,176

L1706013.UP.FTS.B,

21.25%,

9/13/26

....

8,069

7,944

L1705507.UP.FTS.B,

21.58%,

9/13/26

....

4,452

4,413

FW1705757.UP.FTS.B,

21.7%,

9/13/26

...

3,232

3,205

L1706836.UP.FTS.B,

21.71%,

9/13/26

....

6,066

5,967

FW1706388.UP.FTS.B,

21.83%,

9/13/26

..

5,388

5,344

L1706178.UP.FTS.B,

22.1%,

9/13/26

....

3,145

3,120

L1702725.UP.FTS.B,

22.11%,

9/13/26

....

2,247

2,228

L1706343.UP.FTS.B,

22.18%,

9/13/26

....

19,052

1,369

L1705625.UP.FTS.B,

22.24%,

9/13/26

....

5,240

376

L1706147.UP.FTS.B,

23.21%,

9/13/26

....

4,543

4,504

L1706970.UP.FTS.B,

23.23%,

9/13/26

....

1,803

1,788

L1706347.UP.FTS.B,

23.37%,

9/13/26

....

8,182

8,111

L1706443.UP.FTS.B,

23.44%,

9/13/26

....

2,719

2,695

L1705489.UP.FTS.B,

23.58%,

9/13/26

....

9,233

2,666

L1706155.UP.FTS.B,

23.63%,

9/13/26

....

3,609

3,580

L1706495.UP.FTS.B,

23.71%,

9/13/26

....

8,209

8,139

L1706931.UP.FTS.B,

24.04%,

9/13/26

....

1,084

1,075

L1705820.UP.FTS.B,

24.05%,

9/13/26

....

2,804

417

L1706676.UP.FTS.B,

24.2%,

9/13/26

....

13,884

13,768

L1706350.UP.FTS.B,

24.39%,

9/13/26

....

18,082

17,934

L1705248.UP.FTS.B,

24.44%,

9/13/26

....

4,283

308

L1706467.UP.FTS.B,

24.5%,

9/13/26

....

1,176

1,161

L1704980.UP.FTS.B,

24.51%,

9/13/26

....

4,522

4,485

L1705774.UP.FTS.B,

24.52%,

9/13/26

....

7,295

7,231

L1705551.UP.FTS.B,

24.8%,

9/13/26

....

13,718

13,599

L1699725.UP.FTS.B,

24.98%,

9/13/26

....

1,812

1,741

L1705130.UP.FTS.B,

24.98%,

9/13/26

....

2,717

2,694

L1705055.UP.FTS.B,

24.99%,

9/13/26

....

1,754

1,738

FW1694399.UP.FTS.B,

25.04%,

9/13/26

..

2,717

2,695

L1704899.UP.FTS.B,

25.19%,

9/13/26

....

5,689

5,613

L1706179.UP.FTS.B,

25.28%,

9/13/26

....

1,178

1,160

L1705964.UP.FTS.B,

25.31%,

9/13/26

....

4,623

4,585

L1690396.UP.FTS.B,

25.48%,

9/13/26

....

34,373

2,466

L1705061.UP.FTS.B,

25.48%,

9/13/26

....

2,568

2,433

L1671620.UP.FTS.B,

25.49%,

9/13/26

....

2,884

2,855

L1705789.UP.FTS.B,

25.49%,

9/13/26

....

5,297

5,016

L1707003.UP.FTS.B,

25.5%,

9/13/26

....

1,541

1,529

L1705915.UP.FTS.B,

25.54%,

9/13/26

....

26,098

1,853

L1707020.UP.FTS.B,

25.62%,

9/13/26

....

1,076

1,067

FW1705539.UP.FTS.B,

25.63%,

9/13/26

..

4,535

4,498

L1705404.UP.FTS.B,

25.63%,

9/13/26

....

9,028

8,950

L1704905.UP.FTS.B,

25.69%,

9/13/26

....

1,294

14

FW1705801.UP.FTS.B,

25.74%,

9/13/26

..

18,543

5,400

L1706791.UP.FTS.B,

26.15%,

9/13/26

....

2,792

(3)

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW1705410.UP.FTS.B,

26.37%,

9/13/26

..

$

17,716

$

17,553

L1704856.UP.FTS.B,

26.37%,

9/13/26

....

13,631

13,518

FW1705619.UP.FTS.B,

26.39%,

9/13/26

..

2,272

2,253

L1706481.UP.FTS.B,

26.52%,

9/13/26

....

8,851

8,380

L1706658.UP.FTS.B,

26.61%,

9/13/26

....

6,471

6,412

L1704906.UP.FTS.B,

26.62%,

9/13/26

....

6,808

6,751

FW1704944.UP.FTS.B,

26.63%,

9/13/26

..

6,050

5,727

L1706122.UP.FTS.B,

26.74%,

9/13/26

....

7,640

7,577

L1703843.UP.FTS.B,

26.77%,

9/13/26

....

13,099

3,804

FW1706840.UP.FTS.B,

26.82%,

9/13/26

..

32,811

32,509

FW1705300.UP.FTS.B,

26.94%,

9/13/26

..

2,002

1,985

FW1704992.UP.FTS.B,

27.2%,

9/13/26

...

1,822

1,806

FW1706600.UP.FTS.B,

28.17%,

9/13/26

..

7,301

7,241

FW1704833.UP.FTS.B,

28.32%,

9/13/26

..

1,670

1,582

FW1706404.UP.FTS.B,

28.75%,

9/13/26

..

6,729

472

FW1705464.UP.FTS.B,

28.92%,

9/13/26

..

6,858

6,800

FW1705970.UP.FTS.B,

29.06%,

9/13/26

..

3,674

3,636

FW1705119.UP.FTS.B,

29.09%,

9/13/26

..

18,687

5,449

FW1705009.UP.FTS.B,

29.1%,

9/13/26

...

4,259

632

FW1704923.UP.FTS.B,

29.37%,

9/13/26

..

2,434

2,408

FW1705494.UP.FTS.B,

29.37%,

9/13/26

..

9,153

9,076

FW1705554.UP.FTS.B,

29.43%,

9/13/26

..

1,373

1,362

FW1706656.UP.FTS.B,

29.5%,

9/13/26

...

1,831

1,816

FW1706055.UP.FTS.B,

29.52%,

9/13/26

..

1,631

1,616

FW1706519.UP.FTS.B,

29.52%,

9/13/26

..

6,438

6,380

FW1694619.UP.FTS.B,

29.89%,

9/13/26

..

38,752

2,708

FW1705213.UP.FTS.B,

29.91%,

9/13/26

..

5,499

5,453

FW1706018.UP.FTS.B,

29.95%,

9/13/26

..

1,398

(31)

FW1704840.UP.FTS.B,

30.21%,

9/13/26

..

2,785

2,758

FW1706229.UP.FTS.B,

30.24%,

9/13/26

..

4,121

4,086

FW1705990.UP.FTS.B,

30.28%,

9/13/26

..

2,965

2,809

FW1705888.UP.FTS.B,

30.31%,

9/13/26

..

2,717

2,692

FW1706453.UP.FTS.B,

30.32%,

9/13/26

..

903

873

FW1705816.UP.FTS.B,

30.33%,

9/13/26

..

3,669

3,638

FW1705791.UP.FTS.B,

30.47%,

9/13/26

..

4,561

4,521

FW1706578.UP.FTS.B,

30.5%,

9/13/26

...

8,860

8,562

FW1705071.UP.FTS.B,

30.65%,

9/13/26

..

9,180

9,103

FW1705531.UP.FTS.B,

30.66%,

9/13/26

..

1,102

1,092

FW1705686.UP.FTS.B,

30.68%,

9/13/26

..

3,672

3,641

FW1706595.UP.FTS.B,

30.73%,

9/13/26

..

4,592

4,553

FW1705881.UP.FTS.B,

30.81%,

9/13/26

..

4,592

4,554

FW1705876.UP.FTS.B,

30.83%,

9/13/26

..

1,561

1,548

FW1706907.UP.FTS.B,

30.87%,

9/13/26

..

1,653

1,639

FW1705418.UP.FTS.B,

30.88%,

9/13/26

..

6,138

6,074

FW1706713.UP.FTS.B,

30.93%,

9/13/26

..

5,329

5,284

FW1706040.UP.FTS.B,

30.94%,

9/13/26

..

5,513

5,466

FW1706756.UP.FTS.B,

30.97%,

9/13/26

..

550

540

FW1705167.UP.FTS.B,

31%,

9/13/26

....

1,378

1,366

FW1705946.UP.FTS.B,

31.02%,

9/13/26

..

1,194

1,184

FW1706308.UP.FTS.B,

31.09%,

9/13/26

..

6,795

6,731

FW1704990.UP.FTS.B,

31.11%,

9/13/26

..

1,233

1,220

FW1706597.UP.FTS.B,

31.11%,

9/13/26

..

1,746

1,731

FW1706216.UP.FTS.B,

31.13%,

9/13/26

..

28,604

(268)

FW1706019.UP.FTS.B,

31.21%,

9/13/26

..

3,671

3,613

FW1706293.UP.FTS.B,

31.37%,

9/13/26

..

2,304

2,283

FW1706400.UP.FTS.B,

31.38%,

9/13/26

..

3,591

3,557

FW1697654.UP.FTS.B,

31.43%,

9/13/26

..

1,656

1,642

FW1703542.UP.FTS.B,

31.45%,

9/13/26

..

22,486

22,279

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

368

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

FW1706938.UP.FTS.B,

31.73%,

9/13/26

..

$

1,477

$

1,461

FW1706244.UP.FTS.B,

31.81%,

9/13/26

..

1,104

1,095

FW1706582.UP.FTS.B,

31.84%,

9/13/26

..

2,474

2,453

FW1705307.UP.FTS.B,

31.85%,

9/13/26

..

5,246

5,202

FW1705979.UP.FTS.B,

32.01%,

9/13/26

..

5,680

838

FW1704764.UP.FTS.B,

32.03%,

9/13/26

..

2,908

2,878

FW1706420.UP.FTS.B,

32.09%,

9/13/26

..

4,513

4,474

FW1705262.UP.FTS.B,

32.4%,

9/13/26

...

5,990

5,939

FW1705022.UP.FTS.B,

32.46%,

9/13/26

..

7,082

7,015

FW1705847.UP.FTS.B,

32.5%,

9/13/26

...

2,284

2,252

FW1705954.UP.FTS.B,

33.77%,

9/13/26

..

9,383

647

L1878152.UP.FTS.B,

7.43%,

10/19/26

....

2,181

2,168

L1877184.UP.FTS.B,

9.06%,

10/19/26

....

7,959

7,913

L1851771.UP.FTS.B,

9.22%,

10/19/26

....

3,071

3,054

L1878256.UP.FTS.B,

9.69%,

10/19/26

....

8,788

8,718

L1880630.UP.FTS.B,

9.76%,

10/19/26

....

1,049

1,043

L1880702.UP.FTS.B,

9.87%,

10/19/26

....

15,300

15,212

L1875318.UP.FTS.B,

10.07%,

10/19/26

...

5,265

5,223

FW1879016.UP.FTS.B,

10.84%,

10/19/26

.

22,049

21,875

L1881256.UP.FTS.B,

11.03%,

10/19/26

...

10,523

10,438

L1878336.UP.FTS.B,

11.06%,

10/19/26

...

2,208

2,190

L1879834.UP.FTS.B,

11.35%,

10/19/26

...

22,024

21,849

L1879823.UP.FTS.B,

11.68%,

10/19/26

...

18,127

17,984

FW1878337.UP.FTS.B,

12.57%,

10/19/26

.

7,361

1,882

L1880360.UP.FTS.B,

12.99%,

10/19/26

...

26,630

26,421

FW1879031.UP.FTS.B,

13.13%,

10/19/26

.

6,217

6,168

FW1878185.UP.FTS.B,

13.38%,

10/19/26

.

35,549

35,270

L1879789.UP.FTS.B,

13.49%,

10/19/26

...

20,321

20,135

L1881217.UP.FTS.B,

14.02%,

10/19/26

...

5,572

5,511

L1878258.UP.FTS.B,

14.16%,

10/19/26

...

7,126

7,070

L1880791.UP.FTS.B,

14.17%,

10/19/26

...

2,670

2,649

L1880631.UP.FTS.B,

14.27%,

10/19/26

...

6,237

6,188

L1877450.UP.FTS.B,

14.9%,

10/19/26

....

3,464

3,436

L1879966.UP.FTS.B,

14.94%,

10/19/26

...

8,928

8,828

L1879160.UP.FTS.B,

15.75%,

10/19/26

...

6,276

6,205

L1880586.UP.FTS.B,

15.78%,

10/19/26

...

6,735

6,659

L1877560.UP.FTS.B,

16.13%,

10/19/26

...

33,042

32,671

L1864741.UP.FTS.B,

16.15%,

10/19/26

...

5,375

5,315

L1881295.UP.FTS.B,

16.28%,

10/19/26

...

6,273

6,203

L1878278.UP.FTS.B,

16.38%,

10/19/26

...

8,964

8,864

L1877933.UP.FTS.B,

16.4%,

10/19/26

....

2,687

2,594

L1877538.UP.FTS.B,

16.57%,

10/19/26

...

6,432

1,744

L1832966.UP.FTS.B,

16.66%,

10/19/26

...

17,885

17,685

L1860514.UP.FTS.B,

16.68%,

10/19/26

...

9,688

9,557

L1878027.UP.FTS.B,

16.7%,

10/19/26

....

8,900

8,798

L1877381.UP.FTS.B,

17.14%,

10/19/26

...

7,186

7,130

L1881555.UP.FTS.B,

17.31%,

10/19/26

...

5,841

5,762

FW1876338.UP.FTS.B,

17.58%,

10/19/26

.

3,237

3,201

L1877355.UP.FTS.B,

17.66%,

10/19/26

...

1,823

1,716

FW1881188.UP.FTS.B,

17.77%,

10/19/26

.

2,531

2,509

L1880376.UP.FTS.B,

17.81%,

10/19/26

...

9,898

9,764

L1879412.UP.FTS.B,

17.84%,

10/19/26

...

4,893

4,828

L1880095.UP.FTS.B,

17.84%,

10/19/26

...

13,499

13,394

L1879540.UP.FTS.B,

17.97%,

10/19/26

...

4,501

4,440

L1880587.UP.FTS.B,

18.12%,

10/19/26

...

3,602

3,562

L1876765.UP.FTS.B,

18.15%,

10/19/26

...

2,253

2,228

L1871080.UP.FTS.B,

18.23%,

10/19/26

...

5,406

5,332

L1881325.UP.FTS.B,

18.34%,

10/19/26

...

5,413

5,330

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW1881398.UP.FTS.B,

18.35%,

10/19/26

.

$

3,154

$

3,119

L1880031.UP.FTS.B,

18.37%,

10/19/26

...

5,360

5,286

L1876524.UP.FTS.B,

18.4%,

10/19/26

....

4,957

4,890

L1877030.UP.FTS.B,

18.47%,

10/19/26

...

13,522

13,338

L1879537.UP.FTS.B,

18.64%,

10/19/26

...

9,781

700

L1881390.UP.FTS.B,

19.15%,

10/19/26

...

517

173

FW1877226.UP.FTS.B,

19.27%,

10/19/26

.

11,683

11,604

L1879662.UP.FTS.B,

19.3%,

10/19/26

....

18,068

17,952

L1879198.UP.FTS.B,

19.39%,

10/19/26

...

11,919

11,749

L1877239.UP.FTS.B,

19.55%,

10/19/26

...

4,427

4,394

L1876835.UP.FTS.B,

19.58%,

10/19/26

...

904

892

L1879903.UP.FTS.B,

19.68%,

10/19/26

...

6,314

6,227

L1879248.UP.FTS.B,

19.71%,

10/19/26

...

5,391

5,316

L1879737.UP.FTS.B,

19.73%,

10/19/26

...

4,884

4,817

L1877523.UP.FTS.B,

19.9%,

10/19/26

....

5,338

5,266

L1871750.UP.FTS.B,

19.96%,

10/19/26

...

5,430

5,395

L1874758.UP.FTS.B,

20.02%,

10/19/26

...

10,913

10,764

FW1880709.UP.FTS.B,

20.07%,

10/19/26

.

6,337

6,266

L1876035.UP.FTS.B,

20.11%,

10/19/26

...

3,621

3,598

L1875492.UP.FTS.B,

20.47%,

10/19/26

...

31

30

L1877722.UP.FTS.B,

20.57%,

10/19/26

...

14,675

13,810

FW1880186.UP.FTS.B,

20.64%,

10/19/26

.

5,077

5,044

L1879731.UP.FTS.B,

20.78%,

10/19/26

...

4,534

4,473

FW1877068.UP.FTS.B,

20.9%,

10/19/26

..

11,744

11,666

FW1876616.UP.FTS.B,

20.92%,

10/19/26

.

1,089

1,074

FW1878875.UP.FTS.B,

20.95%,

10/19/26

.

4,333

4,268

FW1877987.UP.FTS.B,

20.97%,

10/19/26

.

3,589

3,538

L1881502.UP.FTS.B,

21.09%,

10/19/26

...

7,278

7,225

L1878636.UP.FTS.B,

21.12%,

10/19/26

...

13,528

13,436

L1877922.UP.FTS.B,

21.18%,

10/19/26

...

3,612

3,588

L1876777.UP.FTS.B,

21.6%,

10/19/26

....

7,798

7,743

L1881182.UP.FTS.B,

21.66%,

10/19/26

...

5,061

4,764

FW1879625.UP.FTS.B,

21.71%,

10/19/26

.

1,882

287

FW1880712.UP.FTS.B,

21.75%,

10/19/26

.

3,636

3,613

L1881025.UP.FTS.B,

21.78%,

10/19/26

...

36,000

35,492

L1877982.UP.FTS.B,

21.8%,

10/19/26

....

4,659

4,419

L1876819.UP.FTS.B,

22.33%,

10/19/26

...

15,805

15,678

FW1878006.UP.FTS.B,

22.44%,

10/19/26

.

10,927

10,857

L1870902.UP.FTS.B,

22.62%,

10/19/26

...

1,981

1,967

L1876562.UP.FTS.B,

22.64%,

10/19/26

...

7,582

7,476

L1862143.UP.FTS.B,

22.66%,

10/19/26

...

3,100

3,077

FW1875013.UP.FTS.B,

22.78%,

10/19/26

.

8,202

8,149

L1876648.UP.FTS.B,

22.83%,

10/19/26

...

9,844

9,780

L1877299.UP.FTS.B,

22.84%,

10/19/26

...

10,938

10,867

FW1866351.UP.FTS.B,

22.85%,

10/19/26

.

2,279

2,264

FW1879854.UP.FTS.B,

22.85%,

10/19/26

.

9,467

9,406

FW1880160.UP.FTS.B,

22.89%,

10/19/26

.

4,795

4,757

L1880353.UP.FTS.B,

22.93%,

10/19/26

...

3,173

3,155

L1876513.UP.FTS.B,

22.94%,

10/19/26

...

3,999

3,973

L1878106.UP.FTS.B,

22.97%,

10/19/26

...

15,587

15,477

L1879681.UP.FTS.B,

23%,

10/19/26

.....

18,241

18,123

L1881018.UP.FTS.B,

23.05%,

10/19/26

...

8,573

1,306

L1880865.UP.FTS.B,

23.12%,

10/19/26

...

7

1

FW1880551.UP.FTS.B,

23.22%,

10/19/26

.

5,881

5,839

L1879610.UP.FTS.B,

23.28%,

10/19/26

...

6,433

6,388

FW1880088.UP.FTS.B,

23.43%,

10/19/26

.

8,397

8,343

L1876336.UP.FTS.B,

23.54%,

10/19/26

...

1,887

288

FW1876728.UP.FTS.B,

23.57%,

10/19/26

.

13,493

13,392

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

369

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L1879667.UP.FTS.B,

23.62%,

10/19/26

...

$

3,197

$

3,177

L1880795.UP.FTS.B,

23.65%,

10/19/26

...

2,671

2,650

L1881161.UP.FTS.B,

23.76%,

10/19/26

...

932

885

L1880716.UP.FTS.B,

23.94%,

10/19/26

...

5,026

4,994

L1877561.UP.FTS.B,

23.97%,

10/19/26

...

5,751

410

L1879363.UP.FTS.B,

23.97%,

10/19/26

...

6,398

6,356

L1880563.UP.FTS.B,

24.05%,

10/19/26

...

2,547

2,529

L1879063.UP.FTS.B,

24.07%,

10/19/26

...

925

878

FW1877179.UP.FTS.B,

24.14%,

10/19/26

.

18,203

18,080

L1876901.UP.FTS.B,

24.3%,

10/19/26

....

5,067

5,032

L1879183.UP.FTS.B,

24.36%,

10/19/26

...

11,893

11,816

L1881294.UP.FTS.B,

24.41%,

10/19/26

...

4,656

4,418

L1877178.UP.FTS.B,

24.58%,

10/19/26

...

5,583

5,547

L1878749.UP.FTS.B,

24.6%,

10/19/26

....

3,669

3,642

L1876483.UP.FTS.B,

24.7%,

10/19/26

....

4,444

677

L1881431.UP.FTS.B,

24.79%,

10/19/26

...

1,465

1,456

L1880678.UP.FTS.B,

24.94%,

10/19/26

...

20,153

20,022

L1877594.UP.FTS.B,

24.95%,

10/19/26

...

3,206

3,185

L1878845.UP.FTS.B,

24.96%,

10/19/26

...

13,689

13,598

L1873426.UP.FTS.B,

24.98%,

10/19/26

...

1,374

1,365

L1880129.UP.FTS.B,

24.99%,

10/19/26

...

3,093

3,068

L1879203.UP.FTS.B,

25.01%,

10/19/26

...

1,135

173

L1877167.UP.FTS.B,

25.04%,

10/19/26

...

5,039

5,007

L1877074.UP.FTS.B,

25.09%,

10/19/26

...

28,353

26,916

L1880227.UP.FTS.B,

25.15%,

10/19/26

...

1,833

1,821

L1878309.UP.FTS.B,

25.22%,

10/19/26

...

1,779

522

L1878816.UP.FTS.B,

25.23%,

10/19/26

...

7,083

7,032

L1879131.UP.FTS.B,

25.24%,

10/19/26

...

4,678

329

L1879796.UP.FTS.B,

25.24%,

10/19/26

...

2,567

2,550

L1880423.UP.FTS.B,

25.24%,

10/19/26

...

6,452

6,407

L1880089.UP.FTS.B,

25.26%,

10/19/26

...

7,045

6,687

L1878824.UP.FTS.B,

25.27%,

10/19/26

...

4,201

4,173

FW1875831.UP.FTS.B,

25.28%,

10/19/26

.

2,948

211

FW1879782.UP.FTS.B,

25.28%,

10/19/26

.

13,182

12,977

L1877100.UP.FTS.B,

25.32%,

10/19/26

...

1,742

1,731

L1880162.UP.FTS.B,

25.34%,

10/19/26

...

2,934

2,894

FW1881461.UP.FTS.B,

25.38%,

10/19/26

.

5,502

5,466

L1876477.UP.FTS.B,

25.39%,

10/19/26

...

3,209

3,189

FW1879017.UP.FTS.B,

25.45%,

10/19/26

.

18,697

17,753

L1876700.UP.FTS.B,

25.46%,

10/19/26

...

2,935

2,916

L1878758.UP.FTS.B,

25.46%,

10/19/26

...

6,220

6,178

L1876404.UP.FTS.B,

25.47%,

10/19/26

...

1,834

1,822

L1879422.UP.FTS.B,

25.49%,

10/19/26

...

1,890

1,860

L1878742.UP.FTS.B,

25.52%,

10/19/26

...

4,586

4,557

L1873948.UP.FTS.B,

25.57%,

10/19/26

...

9,174

9,114

L1880045.UP.FTS.B,

25.59%,

10/19/26

...

2,202

2,188

L1880122.UP.FTS.B,

25.62%,

10/19/26

...

12,752

12,670

L1880707.UP.FTS.B,

25.7%,

10/19/26

....

2,156

2,136

L1879612.UP.FTS.B,

25.74%,

10/19/26

...

8,199

8,131

FW1881063.UP.FTS.B,

25.77%,

10/19/26

.

7,344

7,296

L1877620.UP.FTS.B,

25.77%,

10/19/26

...

5,473

5,427

FW1879167.UP.FTS.B,

25.8%,

10/19/26

..

921

915

L1879783.UP.FTS.B,

25.86%,

10/19/26

...

3,063

2,907

L1878517.UP.FTS.B,

25.91%,

10/19/26

...

8,997

8,939

FW1878125.UP.FTS.B,

25.92%,

10/19/26

.

2,020

2,007

L1878925.UP.FTS.B,

26.03%,

10/19/26

...

7,651

7,597

L1876834.UP.FTS.B,

26.05%,

10/19/26

...

14,620

14,513

FW1877802.UP.FTS.B,

26.08%,

10/19/26

.

6,918

6,869

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW1880930.UP.FTS.B,

26.15%,

10/19/26

.

$

9,134

$

9,072

FW1877902.UP.FTS.B,

26.21%,

10/19/26

.

17,815

17,699

L1877448.UP.FTS.B,

26.35%,

10/19/26

...

11,942

11,860

L1877874.UP.FTS.B,

26.52%,

10/19/26

...

4,137

4,110

FW1876257.UP.FTS.B,

26.65%,

10/19/26

.

4,742

723

FW1878248.UP.FTS.B,

26.84%,

10/19/26

.

3,837

587

FW1877751.UP.FTS.B,

26.95%,

10/19/26

.

3,686

3,659

FW1876668.UP.FTS.B,

27%,

10/19/26

...

26,873

26,699

FW1878640.UP.FTS.B,

27.06%,

10/19/26

.

3,387

239

FW1880734.UP.FTS.B,

27.23%,

10/19/26

.

18,670

17,717

FW1876658.UP.FTS.B,

27.58%,

10/19/26

.

3,225

3,204

FW1878828.UP.FTS.B,

27.6%,

10/19/26

..

9,217

9,157

FW1862190.UP.FTS.B,

27.8%,

10/19/26

..

17,978

17,861

FW1877173.UP.FTS.B,

27.96%,

10/19/26

.

9,227

9,168

FW1878010.UP.FTS.B,

28.01%,

10/19/26

.

9,224

9,164

FW1880682.UP.FTS.B,

28.5%,

10/19/26

..

1,336

204

FW1875628.UP.FTS.B,

28.54%,

10/19/26

.

1,260

88

FW1877218.UP.FTS.B,

28.56%,

10/19/26

.

9,236

9,176

FW1881184.UP.FTS.B,

28.63%,

10/19/26

.

4,709

1,391

FW1878560.UP.FTS.B,

28.77%,

10/19/26

.

4,587

4,555

FW1878565.UP.FTS.B,

29.05%,

10/19/26

.

2,887

857

FW1880094.UP.FTS.B,

29.13%,

10/19/26

.

6,377

6,052

FW1872454.UP.FTS.B,

29.14%,

10/19/26

.

1,010

975

FW1880297.UP.FTS.B,

29.3%,

10/19/26

..

2,149

2,039

FW1876796.UP.FTS.B,

29.31%,

10/19/26

.

19,004

18,045

FW1876795.UP.FTS.B,

29.56%,

10/19/26

.

2,961

2,942

FW1880308.UP.FTS.B,

29.56%,

10/19/26

.

1,198

1,189

FW1878356.UP.FTS.B,

29.67%,

10/19/26

.

3,517

3,494

FW1872886.UP.FTS.B,

29.7%,

10/19/26

..

3,881

271

FW1881190.UP.FTS.B,

29.8%,

10/19/26

..

1,389

1,380

FW1876731.UP.FTS.B,

30.12%,

10/19/26

.

2,778

2,745

FW1879914.UP.FTS.B,

30.16%,

10/19/26

.

1,755

1,744

FW1876979.UP.FTS.B,

30.26%,

10/19/26

.

2,780

2,762

FW1878432.UP.FTS.B,

30.26%,

10/19/26

.

19,828

5,874

FW1880787.UP.FTS.B,

30.56%,

10/19/26

.

1,239

(12)

FW1879145.UP.FTS.B,

30.61%,

10/19/26

.

1,565

110

FW1876491.UP.FTS.B,

30.62%,

10/19/26

.

6,030

5,990

FW1877034.UP.FTS.B,

30.62%,

10/19/26

.

7,364

2,177

FW1871822.UP.FTS.B,

30.64%,

10/19/26

.

9,259

9,197

FW1876680.UP.FTS.B,

30.74%,

10/19/26

.

2,975

2,954

FW1880833.UP.FTS.B,

30.74%,

10/19/26

.

4,986

(27)

FW1877099.UP.FTS.B,

30.81%,

10/19/26

.

1,484

1,475

FW1880449.UP.FTS.B,

30.82%,

10/19/26

.

2,710

191

FW1878098.UP.FTS.B,

30.84%,

10/19/26

.

1,113

1,106

FW1878626.UP.FTS.B,

30.84%,

10/19/26

.

4,664

4,632

FW1880438.UP.FTS.B,

30.87%,

10/19/26

.

2,501

2,485

FW1878489.UP.FTS.B,

30.93%,

10/19/26

.

1,421

1,349

FW1881475.UP.FTS.B,

30.95%,

10/19/26

.

2,624

2,491

FW1878108.UP.FTS.B,

31%,

10/19/26

...

2,784

2,765

FW1880033.UP.FTS.B,

31%,

10/19/26

...

4,079

20

FW1881512.UP.FTS.B,

31%,

10/19/26

...

7,409

514

FW1878804.UP.FTS.B,

31.02%,

10/19/26

.

2,675

2,653

FW1879752.UP.FTS.B,

31.05%,

10/19/26

.

1,728

1,714

FW1880218.UP.FTS.B,

31.05%,

10/19/26

.

2,213

2,191

FW1880229.UP.FTS.B,

31.05%,

10/19/26

.

1,300

1,291

FW1881168.UP.FTS.B,

31.09%,

10/19/26

.

1,858

1,846

FW1881345.UP.FTS.B,

31.13%,

10/19/26

.

14,370

2,192

FW1881200.UP.FTS.B,

31.14%,

10/19/26

.

3,621

3,597

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

370

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

FW1880325.UP.FTS.B,

31.15%,

10/19/26

.

$

1,393

$

1,384

FW1876195.UP.FTS.B,

31.18%,

10/19/26

.

2,322

2,307

FW1876886.UP.FTS.B,

31.18%,

10/19/26

.

2,648

786

FW1877644.UP.FTS.B,

31.18%,

10/19/26

.

3,078

920

FW1880085.UP.FTS.B,

31.18%,

10/19/26

.

11,330

11,256

FW1875989.UP.FTS.B,

31.19%,

10/19/26

.

5,830

404

FW1880852.UP.FTS.B,

31.2%,

10/19/26

..

2,732

2,594

FW1878085.UP.FTS.B,

31.21%,

10/19/26

.

3,915

276

FW1877253.UP.FTS.B,

31.23%,

10/19/26

.

1,103

1,095

FW1876515.UP.FTS.B,

31.37%,

10/19/26

.

2,972

2,953

FW1878691.UP.FTS.B,

31.38%,

10/19/26

.

13,654

13,565

FW1876497.UP.FTS.B,

31.41%,

10/19/26

.

3,158

3,138

FW1879978.UP.FTS.B,

31.48%,

10/19/26

.

26,941

26,765

FW1880576.UP.FTS.B,

31.56%,

10/19/26

.

2,709

2,690

FW1877716.UP.FTS.B,

31.6%,

10/19/26

..

3,717

3,693

FW1876495.UP.FTS.B,

31.7%,

10/19/26

..

5,948

5,909

FW1880381.UP.FTS.B,

31.84%,

10/19/26

.

7,501

(58)

FW1880017.UP.FTS.B,

32.16%,

10/19/26

.

6,979

6,933

FW1876692.UP.FTS.B,

32.21%,

10/19/26

.

8,652

8,596

FW1879659.UP.FTS.B,

32.23%,

10/19/26

.

3,256

3,235

FW1879021.UP.FTS.B,

32.25%,

10/19/26

.

5,608

5,568

L1990756.UP.FTS.B,

7.18%,

11/08/26

....

10,634

10,565

L1990115.UP.FTS.B,

8.12%,

11/08/26

....

4,443

4,414

L1995369.UP.FTS.B,

8.19%,

11/08/26

....

7,110

7,064

L1999933.UP.FTS.B,

8.2%,

11/08/26

.....

21,732

21,588

L1991806.UP.FTS.B,

8.35%,

11/08/26

....

2,219

2,204

FW1995576.UP.FTS.B,

8.64%,

11/08/26

..

14,537

14,441

L1994718.UP.FTS.B,

8.83%,

11/08/26

....

16,917

16,809

L1991230.UP.FTS.B,

9.13%,

11/08/26

....

22,854

22,707

L1996991.UP.FTS.B,

9.23%,

11/08/26

....

24,758

24,599

L1988974.UP.FTS.B,

9.55%,

11/08/26

....

8,709

8,651

L1994652.UP.FTS.B,

9.68%,

11/08/26

....

16,064

15,962

L1994371.UP.FTS.B,

9.71%,

11/08/26

....

5,376

5,327

L1993873.UP.FTS.B,

9.76%,

11/08/26

....

8,913

8,856

L1993451.UP.FTS.B,

9.84%,

11/08/26

....

11,136

11,064

L1997701.UP.FTS.B,

10.05%,

11/08/26

...

3,679

893

L1993369.UP.FTS.B,

10.08%,

11/08/26

...

893

888

L1998549.UP.FTS.B,

10.13%,

11/08/26

...

5,004

4,958

L1992632.UP.FTS.B,

10.14%,

11/08/26

...

4,826

4,781

L1996044.UP.FTS.B,

10.24%,

11/08/26

...

17,278

17,110

L1996355.UP.FTS.B,

10.29%,

11/08/26

...

11,622

11,515

L1992891.UP.FTS.B,

10.76%,

11/08/26

...

7,161

7,095

FW1995006.UP.FTS.B,

10.93%,

11/08/26

.

11,642

11,535

L1988958.UP.FTS.B,

10.98%,

11/08/26

...

1,344

1,331

L1991593.UP.FTS.B,

11.07%,

11/08/26

...

44,907

44,497

L1994793.UP.FTS.B,

11.1%,

11/08/26

....

13,439

13,316

FW1989633.UP.FTS.B,

11.19%,

11/08/26

.

5,395

5,345

L1991421.UP.FTS.B,

11.28%,

11/08/26

...

1,793

1,776

L1998866.UP.FTS.B,

11.49%,

11/08/26

...

15,241

15,101

L1993850.UP.FTS.B,

11.61%,

11/08/26

...

9,869

9,778

L1996448.UP.FTS.B,

11.66%,

11/08/26

...

35,891

35,562

FW1993483.UP.FTS.B,

11.78%,

11/08/26

.

17,642

17,475

L1994627.UP.FTS.B,

11.81%,

11/08/26

...

5,386

5,352

L1999369.UP.FTS.B,

11.96%,

11/08/26

...

1,796

1,780

L2000077.UP.FTS.B,

12.06%,

11/08/26

...

13,487

13,364

L1995371.UP.FTS.B,

12.23%,

11/08/26

...

3,595

3,562

L1995435.UP.FTS.B,

12.23%,

11/08/26

...

1,528

1,514

L1999575.UP.FTS.B,

12.84%,

11/08/26

...

990

981

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L1989008.UP.FTS.B,

12.93%,

11/08/26

...

$

1,531

$

1,517

L1989940.UP.FTS.B,

12.93%,

11/08/26

...

2,521

2,498

L1988972.UP.FTS.B,

13.14%,

11/08/26

...

5,666

5,610

L1988372.UP.FTS.B,

13.34%,

11/08/26

...

5,404

5,355

L1998298.UP.FTS.B,

13.53%,

11/08/26

...

3,968

3,931

L1996493.UP.FTS.B,

13.68%,

11/08/26

...

17,933

17,768

L1988558.UP.FTS.B,

14.04%,

11/08/26

...

1,354

1,342

L1995820.UP.FTS.B,

14.08%,

11/08/26

...

8,493

8,414

L1993366.UP.FTS.B,

14.1%,

11/08/26

....

1,806

1,790

L1994789.UP.FTS.B,

14.19%,

11/08/26

...

6,323

6,265

L1996580.UP.FTS.B,

14.28%,

11/08/26

...

7,679

7,609

FW1997293.UP.FTS.B,

14.33%,

11/08/26

.

4,518

4,477

L1995404.UP.FTS.B,

14.33%,

11/08/26

...

7,228

7,131

L1992592.UP.FTS.B,

14.54%,

11/08/26

...

1,808

1,792

L1988359.UP.FTS.B,

14.56%,

11/08/26

...

4,520

4,479

FW1992670.UP.FTS.B,

14.58%,

11/08/26

.

28,932

28,669

L1974259.UP.FTS.B,

14.58%,

11/08/26

...

8,813

8,689

L1993869.UP.FTS.B,

14.59%,

11/08/26

...

6,669

6,595

L1993214.UP.FTS.B,

14.6%,

11/08/26

....

9,042

8,960

L1993448.UP.FTS.B,

14.68%,

11/08/26

...

3,162

3,133

FW1997612.UP.FTS.B,

14.81%,

11/08/26

.

4,071

4,034

L1998726.UP.FTS.B,

14.84%,

11/08/26

...

22,508

22,301

L1993049.UP.FTS.B,

14.87%,

11/08/26

...

18,098

17,934

L1991804.UP.FTS.B,

14.89%,

11/08/26

...

7,239

7,174

L1995379.UP.FTS.B,

15.15%,

11/08/26

...

6,338

6,280

FW1998913.UP.FTS.B,

15.22%,

11/08/26

.

4,056

4,002

FW1991878.UP.FTS.B,

15.23%,

11/08/26

.

4,528

4,487

L1994098.UP.FTS.B,

15.34%,

11/08/26

...

13,587

13,464

L1989003.UP.FTS.B,

15.35%,

11/08/26

...

22,679

22,474

L1991554.UP.FTS.B,

15.42%,

11/08/26

...

13,590

13,467

L1989812.UP.FTS.B,

15.46%,

11/08/26

...

21,747

21,550

L1995487.UP.FTS.B,

15.52%,

11/08/26

...

4,531

4,470

L1992261.UP.FTS.B,

15.59%,

11/08/26

...

2,538

2,515

L1989271.UP.FTS.B,

15.62%,

11/08/26

...

10,878

10,779

L1997630.UP.FTS.B,

15.64%,

11/08/26

...

5,093

1,294

L1992471.UP.FTS.B,

15.65%,

11/08/26

...

22,734

22,530

L1993474.UP.FTS.B,

15.71%,

11/08/26

...

3,627

3,578

L1998083.UP.FTS.B,

15.73%,

11/08/26

...

3,817

148

FW1998360.UP.FTS.B,

15.76%,

11/08/26

.

7,254

7,157

FW1991255.UP.FTS.B,

15.82%,

11/08/26

.

10,430

10,335

FW1994230.UP.FTS.B,

15.86%,

11/08/26

.

3,628

3,580

L1992010.UP.FTS.B,

15.9%,

11/08/26

....

3,628

3,596

L1992540.UP.FTS.B,

16%,

11/08/26

.....

15,368

15,227

L1991691.UP.FTS.B,

16.02%,

11/08/26

...

5,898

5,819

L1992970.UP.FTS.B,

16.04%,

11/08/26

...

13,561

13,377

L1989989.UP.FTS.B,

16.18%,

11/08/26

...

9,713

9,582

L1992622.UP.FTS.B,

16.26%,

11/08/26

...

5,518

5,458

L1988932.UP.FTS.B,

16.37%,

11/08/26

...

3,621

3,572

L1993244.UP.FTS.B,

16.45%,

11/08/26

...

5,430

5,357

L1993881.UP.FTS.B,

16.54%,

11/08/26

...

18,624

9,797

FW1992743.UP.FTS.B,

16.8%,

11/08/26

..

3,637

3,588

L1990356.UP.FTS.B,

16.87%,

11/08/26

...

2,771

96

L1989606.UP.FTS.B,

16.9%,

11/08/26

....

3,637

3,589

L1993463.UP.FTS.B,

16.94%,

11/08/26

...

8,639

8,523

L1989805.UP.FTS.B,

17.05%,

11/08/26

...

13,744

13,562

L1997469.UP.FTS.B,

17.09%,

11/08/26

...

8,369

8,232

L1998067.UP.FTS.B,

17.15%,

11/08/26

...

39,433

38,882

FW1999118.UP.FTS.B,

17.22%,

11/08/26

.

5,460

5,387

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

371

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L1993764.UP.FTS.B,

17.26%,

11/08/26

...

$

1,365

$

1,353

FW1998398.UP.FTS.B,

17.48%,

11/08/26

.

4,552

4,491

L1996453.UP.FTS.B,

17.48%,

11/08/26

...

14,005

3,746

L1991180.UP.FTS.B,

17.58%,

11/08/26

...

3,173

3,130

FW1998119.UP.FTS.B,

17.6%,

11/08/26

..

5,722

183

L1990886.UP.FTS.B,

17.65%,

11/08/26

...

5,921

5,842

L1991140.UP.FTS.B,

17.85%,

11/08/26

...

4,557

4,482

FW1995939.UP.FTS.B,

17.87%,

11/08/26

.

14,583

14,387

L1997638.UP.FTS.B,

17.88%,

11/08/26

...

1,823

1,793

L1999227.UP.FTS.B,

17.88%,

11/08/26

...

15,661

15,401

FW1999870.UP.FTS.B,

17.9%,

11/08/26

..

911

899

L1995433.UP.FTS.B,

17.92%,

11/08/26

...

3,646

3,586

L1995974.UP.FTS.B,

18.08%,

11/08/26

...

8,626

8,509

L1997808.UP.FTS.B,

18.09%,

11/08/26

...

19,584

1,420

L1988482.UP.FTS.B,

18.26%,

11/08/26

...

7,116

6,999

FW1989355.UP.FTS.B,

18.43%,

11/08/26

.

17,332

17,100

L1993950.UP.FTS.B,

18.43%,

11/08/26

...

4,020

3,954

L1996438.UP.FTS.B,

18.51%,

11/08/26

...

5,477

5,403

L1989301.UP.FTS.B,

18.62%,

11/08/26

...

6,334

449

FW1997639.UP.FTS.B,

18.71%,

11/08/26

.

9,157

9,076

L1992806.UP.FTS.B,

18.72%,

11/08/26

...

13,698

13,515

L1990465.UP.FTS.B,

18.74%,

11/08/26

...

5,480

5,406

L1995842.UP.FTS.B,

18.87%,

11/08/26

...

3,197

3,169

L1993142.UP.FTS.B,

18.96%,

11/08/26

...

3,192

3,139

FW1999686.UP.FTS.B,

18.97%,

11/08/26

.

15,534

15,326

L1997527.UP.FTS.B,

19%,

11/08/26

.....

10,052

9,887

L1990253.UP.FTS.B,

19.05%,

11/08/26

...

4,113

4,058

L1988413.UP.FTS.B,

19.1%,

11/08/26

....

1,648

1,629

L1995168.UP.FTS.B,

19.1%,

11/08/26

....

9,140

9,018

L1994058.UP.FTS.B,

19.2%,

11/08/26

....

2,743

2,706

L1989102.UP.FTS.B,

19.31%,

11/08/26

...

9,145

8,995

L1990580.UP.FTS.B,

19.47%,

11/08/26

...

22,956

22,651

L1998235.UP.FTS.B,

19.5%,

11/08/26

....

2,765

2,721

L1996217.UP.FTS.B,

19.54%,

11/08/26

...

4,189

4,120

L1997947.UP.FTS.B,

19.54%,

11/08/26

...

85

84

FW1993731.UP.FTS.B,

19.61%,

11/08/26

.

2,288

2,250

L1992388.UP.FTS.B,

19.63%,

11/08/26

...

5,821

419

L1990151.UP.FTS.B,

19.66%,

11/08/26

...

27,456

27,005

FW1993113.UP.FTS.B,

19.77%,

11/08/26

.

37,932

5,432

FW1990125.UP.FTS.B,

20.11%,

11/08/26

.

7,951

7,815

FW1992267.UP.FTS.B,

20.22%,

11/08/26

.

45,817

45,340

FW1994680.UP.FTS.B,

20.27%,

11/08/26

.

2,751

2,705

L1991181.UP.FTS.B,

20.28%,

11/08/26

...

9,857

9,749

L1992552.UP.FTS.B,

20.32%,

11/08/26

...

15,956

15,690

L1998611.UP.FTS.B,

20.35%,

11/08/26

...

22,719

22,343

L1996204.UP.FTS.B,

20.65%,

11/08/26

...

24,765

24,358

L1992903.UP.FTS.B,

20.68%,

11/08/26

...

9,170

9,074

L1996185.UP.FTS.B,

20.69%,

11/08/26

...

4,587

4,525

L1996508.UP.FTS.B,

20.76%,

11/08/26

...

9,376

5,203

L1988462.UP.FTS.B,

20.81%,

11/08/26

...

5,922

5,841

L1991281.UP.FTS.B,

20.82%,

11/08/26

...

2,019

1,986

L1991645.UP.FTS.B,

20.87%,

11/08/26

...

13,770

13,544

L1997930.UP.FTS.B,

20.97%,

11/08/26

...

4,039

3,972

L1992016.UP.FTS.B,

21%,

11/08/26

.....

29,374

29,069

L1994689.UP.FTS.B,

21.04%,

11/08/26

...

3,672

3,612

L1997831.UP.FTS.B,

21.12%,

11/08/26

...

9,174

9,078

L1993906.UP.FTS.B,

21.28%,

11/08/26

...

5,052

4,999

L1989334.UP.FTS.B,

21.32%,

11/08/26

...

18,371

18,180

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L1991956.UP.FTS.B,

21.37%,

11/08/26

...

$

1,838

$

1,813

L2000050.UP.FTS.B,

21.53%,

11/08/26

...

4,853

4,770

L1996174.UP.FTS.B,

21.54%,

11/08/26

...

10,780

10,590

L1996314.UP.FTS.B,

21.56%,

11/08/26

...

12,182

880

L1999276.UP.FTS.B,

21.67%,

11/08/26

...

919

904

L1995448.UP.FTS.B,

21.72%,

11/08/26

...

1,954

1,917

FW1991047.UP.FTS.B,

21.84%,

11/08/26

.

3,219

3,185

L1989095.UP.FTS.B,

21.91%,

11/08/26

...

8,481

8,335

L1991663.UP.FTS.B,

21.95%,

11/08/26

...

9,517

9,415

L1995141.UP.FTS.B,

22.04%,

11/08/26

...

27,600

27,313

L1996051.UP.FTS.B,

22.14%,

11/08/26

...

7,328

7,229

FW1993533.UP.FTS.B,

22.18%,

11/08/26

.

3,221

3,188

L1996946.UP.FTS.B,

22.18%,

11/08/26

...

4,616

4,565

FW1990423.UP.FTS.B,

22.23%,

11/08/26

.

9,197

9,101

FW1989899.UP.FTS.B,

22.28%,

11/08/26

.

2,566

2,539

L1991475.UP.FTS.B,

22.35%,

11/08/26

...

1,841

1,822

FW1998543.UP.FTS.B,

22.52%,

11/08/26

.

13,446

13,306

FW1998089.UP.FTS.B,

22.65%,

11/08/26

.

8,291

8,155

FW1990668.UP.FTS.B,

22.76%,

11/08/26

.

6,450

6,383

L1994202.UP.FTS.B,

22.77%,

11/08/26

...

46,245

45,492

FW1997075.UP.FTS.B,

22.84%,

11/08/26

.

1,431

1,411

L1999322.UP.FTS.B,

22.85%,

11/08/26

...

9,489

5,641

L1971121.UP.FTS.B,

22.87%,

11/08/26

...

3,226

3,192

L1989194.UP.FTS.B,

22.95%,

11/08/26

...

4,609

4,561

FW1995331.UP.FTS.B,

23.11%,

11/08/26

.

6,916

6,844

FW1994811.UP.FTS.B,

23.15%,

11/08/26

.

9,645

9,485

L1997437.UP.FTS.B,

23.17%,

11/08/26

...

5,080

5,024

L1996768.UP.FTS.B,

23.2%,

11/08/26

....

9,174

9,076

L1998723.UP.FTS.B,

23.2%,

11/08/26

....

2,767

2,738

FW1998471.UP.FTS.B,

23.26%,

11/08/26

.

9,224

9,128

FW1999985.UP.FTS.B,

23.27%,

11/08/26

.

9,195

9,043

L1999817.UP.FTS.B,

23.27%,

11/08/26

...

5,535

5,477

L1996138.UP.FTS.B,

23.54%,

11/08/26

...

6,461

6,394

FW1997494.UP.FTS.B,

23.73%,

11/08/26

.

14,689

14,531

FW1998286.UP.FTS.B,

23.78%,

11/08/26

.

13,258

13,027

L1997541.UP.FTS.B,

23.86%,

11/08/26

...

6,927

6,835

L1970963.UP.FTS.B,

23.87%,

11/08/26

...

4,987

4,935

L1995338.UP.FTS.B,

23.87%,

11/08/26

...

12,770

922

L1989785.UP.FTS.B,

23.91%,

11/08/26

...

12,558

12,412

FW1995090.UP.FTS.B,

23.92%,

11/08/26

.

4,618

4,570

L1991822.UP.FTS.B,

23.93%,

11/08/26

...

8,004

7,918

L1996074.UP.FTS.B,

24%,

11/08/26

.....

12,010

11,885

FW1993349.UP.FTS.B,

24.02%,

11/08/26

.

6,929

6,857

L1988349.UP.FTS.B,

24.02%,

11/08/26

...

3,141

3,108

L1996843.UP.FTS.B,

24.19%,

11/08/26

...

9,242

9,146

FW1994028.UP.FTS.B,

24.21%,

11/08/26

.

6,470

6,402

L1997113.UP.FTS.B,

24.31%,

11/08/26

...

4,419

4,372

L1995969.UP.FTS.B,

24.32%,

11/08/26

...

3,156

3,121

L1995911.UP.FTS.B,

24.36%,

11/08/26

...

7,567

540

L1989394.UP.FTS.B,

24.46%,

11/08/26

...

1,017

1,000

L1997965.UP.FTS.B,

24.59%,

11/08/26

...

6,859

6,783

FW1991474.UP.FTS.B,

24.66%,

11/08/26

.

5,550

5,493

L1989848.UP.FTS.B,

24.75%,

11/08/26

...

7,357

7,272

L1999649.UP.FTS.B,

24.86%,

11/08/26

...

3,780

1,089

L1990332.UP.FTS.B,

24.87%,

11/08/26

...

10,160

10,052

FW1991387.UP.FTS.B,

24.97%,

11/08/26

.

3,904

3,861

L1991759.UP.FTS.B,

24.98%,

11/08/26

...

4,675

4,625

FW1991256.UP.FTS.B,

25.07%,

11/08/26

.

20,369

20,157

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

372

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L1991253.UP.FTS.B,

25.18%,

11/08/26

...

$

2,068

$

2,032

L1998877.UP.FTS.B,

25.23%,

11/08/26

...

955

139

L1991265.UP.FTS.B,

25.27%,

11/08/26

...

2,519

2,492

L1919784.UP.FTS.B,

25.31%,

11/08/26

...

10,375

10,267

L1996800.UP.FTS.B,

25.32%,

11/08/26

...

22,547

22,164

L1998526.UP.FTS.B,

25.32%,

11/08/26

...

1,205

1,193

L1991444.UP.FTS.B,

25.36%,

11/08/26

...

2,949

212

L1995398.UP.FTS.B,

25.36%,

11/08/26

...

2,409

2,384

L1991993.UP.FTS.B,

25.38%,

11/08/26

...

1,365

45

L1988232.UP.FTS.B,

25.43%,

11/08/26

...

3,165

3,108

L1973901.UP.FTS.B,

25.44%,

11/08/26

...

7,134

7,060

L1992549.UP.FTS.B,

25.44%,

11/08/26

...

9,265

9,169

L1994841.UP.FTS.B,

25.44%,

11/08/26

...

31,756

31,404

L1989064.UP.FTS.B,

25.45%,

11/08/26

...

2,327

2,299

L1989244.UP.FTS.B,

25.47%,

11/08/26

...

2,965

2,934

L1995340.UP.FTS.B,

25.48%,

11/08/26

...

1,483

1,467

L1994062.UP.FTS.B,

25.49%,

11/08/26

...

1,772

1,738

L1967532.UP.FTS.B,

25.5%,

11/08/26

....

3,985

3,943

L1990371.UP.FTS.B,

25.5%,

11/08/26

....

27,194

26,891

FW1994341.UP.FTS.B,

25.59%,

11/08/26

.

11,122

11,006

FW1990135.UP.FTS.B,

25.6%,

11/08/26

..

4,634

4,586

L1971199.UP.FTS.B,

25.65%,

11/08/26

...

15,240

1,088

L1963222.UP.FTS.B,

25.7%,

11/08/26

....

4,621

182

L1985518.UP.FTS.B,

25.71%,

11/08/26

...

3,702

3,663

L1990900.UP.FTS.B,

25.72%,

11/08/26

...

703

690

L1998016.UP.FTS.B,

25.76%,

11/08/26

...

5,101

5,048

L1991151.UP.FTS.B,

25.79%,

11/08/26

...

1,851

1,832

L1993496.UP.FTS.B,

25.83%,

11/08/26

...

1,855

1,835

L1998643.UP.FTS.B,

25.85%,

11/08/26

...

5,612

1,611

L1991330.UP.FTS.B,

25.89%,

11/08/26

...

6,955

6,883

L1996839.UP.FTS.B,

25.95%,

11/08/26

...

5,851

5,787

L1996816.UP.FTS.B,

26.05%,

11/08/26

...

14,564

14,413

L1995984.UP.FTS.B,

26.08%,

11/08/26

...

2,134

2,112

L1992732.UP.FTS.B,

26.2%,

11/08/26

....

4,176

4,132

FW1998248.UP.FTS.B,

26.38%,

11/08/26

.

9,283

9,186

L1989817.UP.FTS.B,

26.39%,

11/08/26

...

3,249

3,215

L1989312.UP.FTS.B,

26.43%,

11/08/26

...

3,528

3,491

FW1998563.UP.FTS.B,

26.46%,

11/08/26

.

2,311

2,286

FW1995329.UP.FTS.B,

26.52%,

11/08/26

.

6,500

6,432

FW1991443.UP.FTS.B,

26.55%,

11/08/26

.

33,218

19,799

FW1995623.UP.FTS.B,

26.55%,

11/08/26

.

4,271

4,227

FW1994300.UP.FTS.B,

26.6%,

11/08/26

..

11,209

11,088

FW1990464.UP.FTS.B,

26.65%,

11/08/26

.

5,851

5,790

FW1998048.UP.FTS.B,

26.92%,

11/08/26

.

2,323

2,299

FW1994284.UP.FTS.B,

26.94%,

11/08/26

.

10,491

1,523

L1990551.UP.FTS.B,

26.95%,

11/08/26

...

11,458

11,338

FW1997243.UP.FTS.B,

26.96%,

11/08/26

.

4,503

4,449

FW1996643.UP.FTS.B,

27.31%,

11/08/26

.

3,444

246

FW1990199.UP.FTS.B,

27.43%,

11/08/26

.

13,606

13,451

FW1996041.UP.FTS.B,

27.48%,

11/08/26

.

11,163

11,047

FW1992001.UP.FTS.B,

27.49%,

11/08/26

.

1,692

1,668

FW1994909.UP.FTS.B,

27.53%,

11/08/26

.

15,345

15,166

FW1990667.UP.FTS.B,

27.83%,

11/08/26

.

4,169

4,124

FW1991732.UP.FTS.B,

27.87%,

11/08/26

.

4,630

4,580

FW1996955.UP.FTS.B,

27.91%,

11/08/26

.

1,397

1,382

FW1994443.UP.FTS.B,

27.95%,

11/08/26

.

9,311

9,214

FW1994756.UP.FTS.B,

28%,

11/08/26

...

3,258

3,224

FW1999057.UP.FTS.B,

28%,

11/08/26

...

23,278

23,036

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW1996342.UP.FTS.B,

28.14%,

11/08/26

.

$

6,520

$

6,452

FW1993779.UP.FTS.B,

28.2%,

11/08/26

..

13,972

13,827

FW1997971.UP.FTS.B,

28.52%,

11/08/26

.

24,182

3,517

FW1996228.UP.FTS.B,

28.64%,

11/08/26

.

12,079

11,951

FW1992858.UP.FTS.B,

28.68%,

11/08/26

.

2,443

172

FW1998379.UP.FTS.B,

28.74%,

11/08/26

.

4,476

4,429

FW1992877.UP.FTS.B,

28.84%,

11/08/26

.

1,218

1,199

FW1995188.UP.FTS.B,

28.89%,

11/08/26

.

3,772

3,731

FW1991794.UP.FTS.B,

28.92%,

11/08/26

.

997

978

FW1991433.UP.FTS.B,

29.04%,

11/08/26

.

1,399

1,385

FW1993525.UP.FTS.B,

29.04%,

11/08/26

.

38,384

5,558

FW1995167.UP.FTS.B,

29.32%,

11/08/26

.

3,267

3,233

FW1992839.UP.FTS.B,

29.33%,

11/08/26

.

4,667

4,619

FW1991541.UP.FTS.B,

29.36%,

11/08/26

.

5,601

5,543

FW1999851.UP.FTS.B,

29.4%,

11/08/26

..

4,669

4,620

FW1995866.UP.FTS.B,

29.41%,

11/08/26

.

3,075

3,043

FW1995850.UP.FTS.B,

29.69%,

11/08/26

.

1,022

1,011

FW1996092.UP.FTS.B,

29.72%,

11/08/26

.

2,751

2,720

FW1999443.UP.FTS.B,

29.76%,

11/08/26

.

7,469

7,391

FW1992347.UP.FTS.B,

29.82%,

11/08/26

.

28,029

27,737

FW1995066.UP.FTS.B,

29.83%,

11/08/26

.

5,110

5,055

FW1998032.UP.FTS.B,

29.86%,

11/08/26

.

4,486

4,431

FW1995067.UP.FTS.B,

30.03%,

11/08/26

.

5,608

5,549

FW1992949.UP.FTS.B,

30.07%,

11/08/26

.

1,971

138

FW1988879.UP.FTS.B,

30.15%,

11/08/26

.

5,911

414

FW1994293.UP.FTS.B,

30.31%,

11/08/26

.

1,322

790

FW1997312.UP.FTS.B,

30.32%,

11/08/26

.

935

926

FW1999097.UP.FTS.B,

30.46%,

11/08/26

.

2,806

2,777

FW1989533.UP.FTS.B,

30.48%,

11/08/26

.

1,668

1,643

FW1991525.UP.FTS.B,

30.5%,

11/08/26

..

10,571

1,526

FW1996257.UP.FTS.B,

30.52%,

11/08/26

.

2,022

1,990

FW1999242.UP.FTS.B,

30.52%,

11/08/26

.

37,419

37,029

FW1998458.UP.FTS.B,

30.59%,

11/08/26

.

3,956

3,914

FW1991024.UP.FTS.B,

30.67%,

11/08/26

.

1,029

1,019

FW1996943.UP.FTS.B,

30.67%,

11/08/26

.

5,086

5,013

FW1998636.UP.FTS.B,

30.67%,

11/08/26

.

1,084

77

FW1991447.UP.FTS.B,

30.68%,

11/08/26

.

2,792

2,763

FW1992674.UP.FTS.B,

30.71%,

11/08/26

.

1,778

1,759

FW1991126.UP.FTS.B,

30.85%,

11/08/26

.

1,217

1,204

FW1994569.UP.FTS.B,

30.87%,

11/08/26

.

5,429

5,372

FW1988366.UP.FTS.B,

30.88%,

11/08/26

.

4,681

4,633

FW1988425.UP.FTS.B,

30.92%,

11/08/26

.

1,217

1,204

FW1992613.UP.FTS.B,

30.95%,

11/08/26

.

23,404

23,160

FW1988491.UP.FTS.B,

30.97%,

11/08/26

.

1,746

(19)

FW1998245.UP.FTS.B,

30.99%,

11/08/26

.

8,332

8,245

FW1986945.UP.FTS.B,

31.01%,

11/08/26

.

11,625

3,366

FW1991582.UP.FTS.B,

31.04%,

11/08/26

.

8,614

8,524

FW1997618.UP.FTS.B,

31.04%,

11/08/26

.

3,539

247

FW1996197.UP.FTS.B,

31.07%,

11/08/26

.

3,933

3,892

FW1996489.UP.FTS.B,

31.09%,

11/08/26

.

3,261

3,226

FW1995019.UP.FTS.B,

31.1%,

11/08/26

..

1,583

1,566

FW1990513.UP.FTS.B,

31.11%,

11/08/26

.

4,368

4,320

FW1994376.UP.FTS.B,

31.11%,

11/08/26

.

1,498

1,483

FW1996797.UP.FTS.B,

31.11%,

11/08/26

.

3,309

1,978

FW1989182.UP.FTS.B,

31.12%,

11/08/26

.

5,096

750

FW1991890.UP.FTS.B,

31.12%,

11/08/26

.

2,810

2,781

FW1996841.UP.FTS.B,

31.12%,

11/08/26

.

27,643

8,005

FW1999015.UP.FTS.B,

31.12%,

11/08/26

.

1,539

222

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

373

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

FW1994027.UP.FTS.B,

31.13%,

11/08/26

.

$

2,529

$

2,502

FW1991332.UP.FTS.B,

31.15%,

11/08/26

.

3,840

3,800

FW1997810.UP.FTS.B,

31.15%,

11/08/26

.

1,973

1,951

FW1989608.UP.FTS.B,

31.17%,

11/08/26

.

1,731

250

FW1988381.UP.FTS.B,

31.18%,

11/08/26

.

4,690

4,622

FW1988399.UP.FTS.B,

31.18%,

11/08/26

.

1,733

1,712

FW1995078.UP.FTS.B,

31.18%,

11/08/26

.

1,510

902

FW1999282.UP.FTS.B,

31.18%,

11/08/26

.

8,409

8,320

FW1996853.UP.FTS.B,

31.2%,

11/08/26

..

2,907

(39)

FW1995099.UP.FTS.B,

31.21%,

11/08/26

.

3,368

3,332

FW1989153.UP.FTS.B,

31.22%,

11/08/26

.

12,747

12,612

FW1996902.UP.FTS.B,

31.33%,

11/08/26

.

8,883

8,789

FW1999590.UP.FTS.B,

31.42%,

11/08/26

.

4,685

4,636

FW1999025.UP.FTS.B,

31.46%,

11/08/26

.

9,969

705

FW1992892.UP.FTS.B,

31.61%,

11/08/26

.

8,389

8,298

FW1995496.UP.FTS.B,

31.66%,

11/08/26

.

7,505

1,087

FW1998216.UP.FTS.B,

32.38%,

11/08/26

.

10,380

3,040

L2073684.UP.FTS.B,

7.58%,

11/18/26

....

8,854

8,806

L2071601.UP.FTS.B,

7.69%,

11/18/26

....

2,662

2,648

L2070708.UP.FTS.B,

7.71%,

11/18/26

....

17,741

17,646

L2074361.UP.FTS.B,

7.81%,

11/18/26

....

11,835

2,913

L2070082.UP.FTS.B,

8.09%,

11/18/26

....

17,770

17,674

L2070214.UP.FTS.B,

8.6%,

11/18/26

.....

2,226

2,214

L2041907.UP.FTS.B,

9.16%,

11/18/26

....

3,565

3,546

L2073150.UP.FTS.B,

9.42%,

11/18/26

....

14,639

14,560

L2073479.UP.FTS.B,

9.88%,

11/18/26

....

12,440

12,374

L2071865.UP.FTS.B,

10.09%,

11/18/26

...

6,701

6,651

L2075029.UP.FTS.B,

10.15%,

11/18/26

...

9,830

9,756

L2074643.UP.FTS.B,

10.22%,

11/18/26

...

17,698

17,565

L2072338.UP.FTS.B,

10.5%,

11/18/26

....

6,709

6,674

L2073169.UP.FTS.B,

10.97%,

11/18/26

...

19,704

19,557

L2075077.UP.FTS.B,

11.07%,

11/18/26

...

2,688

2,668

L2074489.UP.FTS.B,

11.11%,

11/18/26

...

20,428

20,276

FW2074336.UP.FTS.B,

11.25%,

11/18/26

.

6,274

6,227

L2075040.UP.FTS.B,

11.45%,

11/18/26

...

12,541

12,448

FW2073066.UP.FTS.B,

11.7%,

11/18/26

..

4,449

4,416

L2074791.UP.FTS.B,

11.72%,

11/18/26

...

13,379

13,276

L2074193.UP.FTS.B,

12.02%,

11/18/26

...

8,517

8,453

L2075044.UP.FTS.B,

12.3%,

11/18/26

....

3,595

3,569

L2073290.UP.FTS.B,

12.34%,

11/18/26

...

9,250

2,358

L2074536.UP.FTS.B,

12.35%,

11/18/26

...

5,394

5,354

L2071456.UP.FTS.B,

12.81%,

11/18/26

...

33,301

33,056

L2071639.UP.FTS.B,

12.89%,

11/18/26

...

7,094

7,040

L2070126.UP.FTS.B,

12.98%,

11/18/26

...

6,303

6,257

FW2071985.UP.FTS.B,

13.1%,

11/18/26

..

9,761

709

FW2070599.UP.FTS.B,

13.28%,

11/18/26

.

4,686

4,652

L2073228.UP.FTS.B,

13.71%,

11/18/26

...

9,202

9,134

L2069740.UP.FTS.B,

13.83%,

11/18/26

...

14,529

14,423

L2073949.UP.FTS.B,

13.85%,

11/18/26

...

4,512

4,479

FW2073808.UP.FTS.B,

13.9%,

11/18/26

..

2,708

2,688

L2070988.UP.FTS.B,

13.92%,

11/18/26

...

7,221

7,168

FW2074163.UP.FTS.B,

13.98%,

11/18/26

.

2,817

723

L2071487.UP.FTS.B,

14%,

11/18/26

.....

6,939

6,884

L2074491.UP.FTS.B,

14.11%,

11/18/26

...

7,692

7,243

L2070587.UP.FTS.B,

14.32%,

11/18/26

...

7,228

7,151

L2073985.UP.FTS.B,

14.6%,

11/18/26

....

4,521

4,488

L2074701.UP.FTS.B,

14.63%,

11/18/26

...

5,787

5,725

L2074516.UP.FTS.B,

14.71%,

11/18/26

...

8,592

8,529

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L2073258.UP.FTS.B,

14.73%,

11/18/26

...

$

904

$

898

L2075086.UP.FTS.B,

14.83%,

11/18/26

...

6,327

6,281

FW2061676.UP.FTS.B,

14.9%,

11/18/26

..

18,097

17,966

FW2075148.UP.FTS.B,

14.93%,

11/18/26

.

3,620

3,581

FW2072385.UP.FTS.B,

15%,

11/18/26

...

6,336

6,268

L2074195.UP.FTS.B,

15.15%,

11/18/26

...

9,054

8,989

FW2072823.UP.FTS.B,

15.21%,

11/18/26

.

2,244

2,228

L2074544.UP.FTS.B,

15.5%,

11/18/26

....

4,554

4,522

L2073878.UP.FTS.B,

15.54%,

11/18/26

...

4,078

4,049

L2070387.UP.FTS.B,

15.7%,

11/18/26

....

14,703

13,852

L2074846.UP.FTS.B,

15.74%,

11/18/26

...

13,601

13,456

L2073728.UP.FTS.B,

15.85%,

11/18/26

...

6,176

6,115

FW2075407.UP.FTS.B,

16.01%,

11/18/26

.

14,336

14,184

L2074857.UP.FTS.B,

16.11%,

11/18/26

...

18,161

18,031

FW2073202.UP.FTS.B,

16.18%,

11/18/26

.

13,616

13,471

L2073860.UP.FTS.B,

16.19%,

11/18/26

...

2,723

2,694

L2039587.UP.FTS.B,

16.24%,

11/18/26

...

9,316

2,522

L2075589.UP.FTS.B,

16.26%,

11/18/26

...

6,331

6,284

L2071348.UP.FTS.B,

16.45%,

11/18/26

...

12,717

12,626

L2071149.UP.FTS.B,

16.73%,

11/18/26

...

23,230

22,978

L2071590.UP.FTS.B,

16.75%,

11/18/26

...

6,353

6,285

FW2074069.UP.FTS.B,

16.79%,

11/18/26

.

9,091

8,994

FW2074777.UP.FTS.B,

16.81%,

11/18/26

.

9,295

675

L2071747.UP.FTS.B,

16.81%,

11/18/26

...

5,454

5,396

L2074108.UP.FTS.B,

16.87%,

11/18/26

...

2,719

2,690

FW2074457.UP.FTS.B,

16.98%,

11/18/26

.

22,737

22,439

FW2074630.UP.FTS.B,

17.03%,

11/18/26

.

38,003

37,725

FW2075122.UP.FTS.B,

17.19%,

11/18/26

.

3,640

3,601

L2071817.UP.FTS.B,

17.19%,

11/18/26

...

9,084

8,987

L2074833.UP.FTS.B,

17.19%,

11/18/26

...

12,739

12,604

L2074769.UP.FTS.B,

17.24%,

11/18/26

...

5,460

5,402

FW2075303.UP.FTS.B,

17.27%,

11/18/26

.

2,263

2,239

FW2075446.UP.FTS.B,

17.4%,

11/18/26

..

3,608

3,568

L2044841.UP.FTS.B,

17.43%,

11/18/26

...

9,105

9,008

L2070593.UP.FTS.B,

17.59%,

11/18/26

...

18,251

18,123

FW2075299.UP.FTS.B,

17.67%,

11/18/26

.

3,644

3,605

L2069831.UP.FTS.B,

17.74%,

11/18/26

...

26,476

3,830

FW2071651.UP.FTS.B,

17.93%,

11/18/26

.

5,886

5,822

L2069944.UP.FTS.B,

18.01%,

11/18/26

...

9,122

9,026

L2063418.UP.FTS.B,

18.03%,

11/18/26

...

3,647

3,609

L2074570.UP.FTS.B,

18.15%,

11/18/26

...

14,592

14,439

L2074700.UP.FTS.B,

18.17%,

11/18/26

...

5,929

5,867

L2073937.UP.FTS.B,

18.46%,

11/18/26

...

10,896

10,780

L2074877.UP.FTS.B,

18.54%,

11/18/26

...

4,880

4,812

FW2070090.UP.FTS.B,

18.57%,

11/18/26

.

1,807

1,787

L2070094.UP.FTS.B,

18.61%,

11/18/26

...

18,161

17,969

FW2072266.UP.FTS.B,

18.67%,

11/18/26

.

2,362

2,331

L2069767.UP.FTS.B,

18.84%,

11/18/26

...

4,519

4,457

FW2074803.UP.FTS.B,

18.88%,

11/18/26

.

11,419

11,299

L2071288.UP.FTS.B,

18.9%,

11/18/26

....

4,037

3,993

FW2070966.UP.FTS.B,

18.96%,

11/18/26

.

5,482

5,411

L2071754.UP.FTS.B,

19.22%,

11/18/26

...

4,309

4,246

L2075248.UP.FTS.B,

19.24%,

11/18/26

...

1,091

1,079

FW2072147.UP.FTS.B,

19.3%,

11/18/26

..

12,166

11,465

FW2074495.UP.FTS.B,

19.61%,

11/18/26

.

8,236

8,129

FW2075164.UP.FTS.B,

19.63%,

11/18/26

.

4,540

4,479

L2069559.UP.FTS.B,

19.65%,

11/18/26

...

15,649

15,446

L2074954.UP.FTS.B,

19.66%,

11/18/26

...

4,943

4,878

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

374

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2069479.UP.FTS.B,

19.68%,

11/18/26

...

$

1,830

$

1,807

L2067851.UP.FTS.B,

19.79%,

11/18/26

...

13,404

13,220

L2039193.UP.FTS.B,

19.81%,

11/18/26

...

15,192

1,099

L2060606.UP.FTS.B,

19.84%,

11/18/26

...

34,700

34,337

L2075530.UP.FTS.B,

19.87%,

11/18/26

...

3,571

3,525

FW2071863.UP.FTS.B,

19.94%,

11/18/26

.

41,209

40,673

L2073597.UP.FTS.B,

19.97%,

11/18/26

...

1,623

1,597

L2074383.UP.FTS.B,

19.98%,

11/18/26

...

4,315

138

L2073933.UP.FTS.B,

20.06%,

11/18/26

...

5,317

5,243

FW2070506.UP.FTS.B,

20.1%,

11/18/26

..

4,031

3,979

L2069760.UP.FTS.B,

20.2%,

11/18/26

....

21,538

20,296

L2072694.UP.FTS.B,

20.25%,

11/18/26

...

3,024

2,985

L2071378.UP.FTS.B,

20.26%,

11/18/26

...

6,958

6,553

L2074576.UP.FTS.B,

20.39%,

11/18/26

...

8,869

8,769

FW2070300.UP.FTS.B,

20.46%,

11/18/26

.

9,170

9,111

L2070073.UP.FTS.B,

20.5%,

11/18/26

....

8,290

8,183

L2074554.UP.FTS.B,

20.64%,

11/18/26

...

20,179

19,917

L2073562.UP.FTS.B,

20.66%,

11/18/26

...

4,606

4,559

L2073048.UP.FTS.B,

20.74%,

11/18/26

...

4,587

4,528

L2069140.UP.FTS.B,

20.85%,

11/18/26

...

9,176

9,058

L2074379.UP.FTS.B,

20.93%,

11/18/26

...

16,866

16,746

L2073994.UP.FTS.B,

21.04%,

11/18/26

...

4,590

4,531

FW2073919.UP.FTS.B,

21.16%,

11/18/26

.

2,755

2,737

L2074931.UP.FTS.B,

21.33%,

11/18/26

...

5,498

5,463

L2072150.UP.FTS.B,

21.62%,

11/18/26

...

27,355

27,061

L2074856.UP.FTS.B,

21.95%,

11/18/26

...

10,427

10,354

L2073022.UP.FTS.B,

21.98%,

11/18/26

...

4,018

3,855

L2070410.UP.FTS.B,

21.99%,

11/18/26

...

3,763

3,547

FW2075442.UP.FTS.B,

22.23%,

11/18/26

.

6,422

6,338

L2073879.UP.FTS.B,

22.29%,

11/18/26

...

1,864

1,769

L2069833.UP.FTS.B,

22.47%,

11/18/26

...

2,947

2,928

L2074792.UP.FTS.B,

22.51%,

11/18/26

...

4,605

4,576

L2072786.UP.FTS.B,

22.57%,

11/18/26

...

12,891

12,809

FW2072669.UP.FTS.B,

22.61%,

11/18/26

.

17,705

1,352

L2074611.UP.FTS.B,

22.62%,

11/18/26

...

23,171

23,015

L2074520.UP.FTS.B,

22.63%,

11/18/26

...

576

567

L2073235.UP.FTS.B,

22.81%,

11/18/26

...

6,409

6,325

L2074658.UP.FTS.B,

22.83%,

11/18/26

...

9,216

9,158

L2074869.UP.FTS.B,

22.9%,

11/18/26

....

4,377

4,318

L2073707.UP.FTS.B,

22.91%,

11/18/26

...

2,581

2,565

L2073624.UP.FTS.B,

22.92%,

11/18/26

...

970

29

L2074779.UP.FTS.B,

22.95%,

11/18/26

...

9,222

9,164

L2073694.UP.FTS.B,

22.99%,

11/18/26

...

5,449

5,409

FW2074890.UP.FTS.B,

23.06%,

11/18/26

.

3,205

3,183

L2075061.UP.FTS.B,

23.07%,

11/18/26

...

8,656

8,595

FW2073821.UP.FTS.B,

23.18%,

11/18/26

.

6,485

6,441

L2073355.UP.FTS.B,

23.21%,

11/18/26

...

4,611

4,582

L2074657.UP.FTS.B,

23.23%,

11/18/26

...

3,505

3,483

L2075024.UP.FTS.B,

23.38%,

11/18/26

...

4,441

4,406

L2070496.UP.FTS.B,

23.39%,

11/18/26

...

9,226

9,168

L2074815.UP.FTS.B,

23.53%,

11/18/26

...

5,374

5,333

FW2075107.UP.FTS.B,

23.56%,

11/18/26

.

7,531

7,151

L2069953.UP.FTS.B,

23.63%,

11/18/26

...

2,550

2,516

FW2072043.UP.FTS.B,

23.69%,

11/18/26

.

4,668

4,433

L2074932.UP.FTS.B,

23.75%,

11/18/26

...

8,687

2,550

L2073535.UP.FTS.B,

24.04%,

11/18/26

...

924

912

L2074997.UP.FTS.B,

24.24%,

11/18/26

...

3,882

3,858

L2073790.UP.FTS.B,

24.3%,

11/18/26

....

2,834

2,725

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L2074804.UP.FTS.B,

24.45%,

11/18/26

...

$

963

$

42

FW2074736.UP.FTS.B,

24.49%,

11/18/26

.

6,546

6,217

L2070695.UP.FTS.B,

24.74%,

11/18/26

...

4,511

4,453

FW2074090.UP.FTS.B,

24.77%,

11/18/26

.

2,647

2,514

L2074747.UP.FTS.B,

24.82%,

11/18/26

...

2,837

2,695

L2073148.UP.FTS.B,

24.83%,

11/18/26

...

1,388

1,370

L2069647.UP.FTS.B,

24.91%,

11/18/26

...

4,676

4,633

FW2070116.UP.FTS.B,

24.93%,

11/18/26

.

5,897

423

L2069706.UP.FTS.B,

24.96%,

11/18/26

...

1,574

1,564

L2072240.UP.FTS.B,

24.96%,

11/18/26

...

4,499

4,465

L2075043.UP.FTS.B,

25%,

11/18/26

.....

2,174

637

FW2074975.UP.FTS.B,

25.07%,

11/18/26

.

5,765

878

L2074275.UP.FTS.B,

25.13%,

11/18/26

...

1,563

1,544

FW2073759.UP.FTS.B,

25.15%,

11/18/26

.

1,110

1,103

L2075027.UP.FTS.B,

25.16%,

11/18/26

...

5,556

5,521

L2070719.UP.FTS.B,

25.21%,

11/18/26

...

6,140

6,098

L2073657.UP.FTS.B,

25.23%,

11/18/26

...

1,784

275

L2073411.UP.FTS.B,

25.27%,

11/18/26

...

3,534

253

L2075204.UP.FTS.B,

25.29%,

11/18/26

...

4,539

4,510

L2073552.UP.FTS.B,

25.3%,

11/18/26

....

1,853

1,841

L2070829.UP.FTS.B,

25.31%,

11/18/26

...

926

914

FW2074782.UP.FTS.B,

25.34%,

11/18/26

.

2,491

2,475

L2075129.UP.FTS.B,

25.35%,

11/18/26

...

946

67

L2073997.UP.FTS.B,

25.36%,

11/18/26

...

2,536

2,408

L2068374.UP.FTS.B,

25.37%,

11/18/26

...

4,632

4,603

L2074787.UP.FTS.B,

25.38%,

11/18/26

...

5,156

5,114

L2070733.UP.FTS.B,

25.4%,

11/18/26

....

2,779

2,762

L2071257.UP.FTS.B,

25.4%,

11/18/26

....

896

889

L2075018.UP.FTS.B,

25.44%,

11/18/26

...

9,388

9,324

L2072594.UP.FTS.B,

25.45%,

11/18/26

...

1,146

174

L2072907.UP.FTS.B,

25.45%,

11/18/26

...

3,867

1,140

L2075194.UP.FTS.B,

25.45%,

11/18/26

...

3,706

3,683

L2071446.UP.FTS.B,

25.46%,

11/18/26

...

2,102

319

L2075025.UP.FTS.B,

25.46%,

11/18/26

...

762

751

L2071821.UP.FTS.B,

25.5%,

11/18/26

....

4,590

4,359

L2071644.UP.FTS.B,

25.54%,

11/18/26

...

6,116

6,078

L2045168.UP.FTS.B,

25.61%,

11/18/26

...

8,712

8,658

L2074677.UP.FTS.B,

25.72%,

11/18/26

...

12,397

11,776

L2075006.UP.FTS.B,

25.72%,

11/18/26

...

17,943

17,717

FW2068660.UP.FTS.B,

25.77%,

11/18/26

.

4,636

4,607

FW2070278.UP.FTS.B,

25.78%,

11/18/26

.

5,651

854

FW2071761.UP.FTS.B,

25.95%,

11/18/26

.

7,034

6,680

L2074775.UP.FTS.B,

25.97%,

11/18/26

...

6,930

490

FW2071971.UP.FTS.B,

26.02%,

11/18/26

.

3,711

3,687

FW2072010.UP.FTS.B,

26.11%,

11/18/26

.

7,652

2,252

L2070118.UP.FTS.B,

26.13%,

11/18/26

...

2,412

2,397

L2073139.UP.FTS.B,

26.23%,

11/18/26

...

5,568

5,534

FW2075060.UP.FTS.B,

26.35%,

11/18/26

.

4,609

4,578

FW2074827.UP.FTS.B,

26.53%,

11/18/26

.

1,877

1,782

FW2074724.UP.FTS.B,

26.71%,

11/18/26

.

5,685

1,672

L2071196.UP.FTS.B,

26.88%,

11/18/26

...

14,411

2,189

FW2074345.UP.FTS.B,

26.9%,

11/18/26

..

911

901

FW2070047.UP.FTS.B,

27.3%,

11/18/26

..

1,245

189

FW2062142.UP.FTS.B,

27.35%,

11/18/26

.

18,710

18,588

FW2072098.UP.FTS.B,

27.42%,

11/18/26

.

15,537

15,442

FW2074102.UP.FTS.B,

27.44%,

11/18/26

.

2,414

2,399

FW2073976.UP.FTS.B,

27.83%,

11/18/26

.

1,788

1,774

FW2074661.UP.FTS.B,

27.99%,

11/18/26

.

1,863

1,851

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

375

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

FW2072877.UP.FTS.B,

28.24%,

11/18/26

.

$

2,900

$

14

FW2074553.UP.FTS.B,

28.4%,

11/18/26

..

932

926

FW2059197.UP.FTS.B,

28.55%,

11/18/26

.

9,321

9,264

FW2074755.UP.FTS.B,

28.62%,

11/18/26

.

1,865

1,854

FW2075255.UP.FTS.B,

28.94%,

11/18/26

.

7,462

7,417

FW2072277.UP.FTS.B,

28.95%,

11/18/26

.

4,225

4,013

FW2075115.UP.FTS.B,

29.25%,

11/18/26

.

5,613

5,576

FW2074160.UP.FTS.B,

29.41%,

11/18/26

.

2,601

2,584

FW2073891.UP.FTS.B,

29.48%,

11/18/26

.

10,084

10,023

FW2072335.UP.FTS.B,

29.54%,

11/18/26

.

1,121

1,114

FW2074435.UP.FTS.B,

29.62%,

11/18/26

.

7,068

7,023

FW2074265.UP.FTS.B,

29.67%,

11/18/26

.

7,939

7,891

FW2067233.UP.FTS.B,

29.68%,

11/18/26

.

1,681

1,671

FW2074064.UP.FTS.B,

29.92%,

11/18/26

.

1,682

1,672

FW2073951.UP.FTS.B,

29.99%,

11/18/26

.

9,347

9,290

FW2073658.UP.FTS.B,

30.11%,

11/18/26

.

12,375

3,663

FW2071058.UP.FTS.B,

30.15%,

11/18/26

.

2,244

2,230

FW2069880.UP.FTS.B,

30.4%,

11/18/26

..

5,612

5,578

FW2073506.UP.FTS.B,

30.43%,

11/18/26

.

919

913

FW2072059.UP.FTS.B,

30.46%,

11/18/26

.

4,209

4,184

FW2072695.UP.FTS.B,

30.47%,

11/18/26

.

936

930

FW2071922.UP.FTS.B,

30.48%,

11/18/26

.

2,256

2,241

FW2074969.UP.FTS.B,

30.51%,

11/18/26

.

1,429

423

FW2072528.UP.FTS.B,

30.61%,

11/18/26

.

1,895

1,870

FW2074740.UP.FTS.B,

30.66%,

11/18/26

.

30,036

29,853

FW2075547.UP.FTS.B,

30.66%,

11/18/26

.

1,123

1,116

FW2074496.UP.FTS.B,

30.71%,

11/18/26

.

2,902

2,885

FW2043410.UP.FTS.B,

30.75%,

11/18/26

.

1,489

33

FW2071291.UP.FTS.B,

30.75%,

11/18/26

.

2,995

2,977

FW2072339.UP.FTS.B,

30.87%,

11/18/26

.

2,153

2,140

FW2070652.UP.FTS.B,

30.89%,

11/18/26

.

1,566

6

FW2072758.UP.FTS.B,

30.89%,

11/18/26

.

1,429

1,358

FW2067875.UP.FTS.B,

30.93%,

11/18/26

.

1,311

1,303

FW2074443.UP.FTS.B,

30.94%,

11/18/26

.

18,750

18,625

FW2069888.UP.FTS.B,

30.95%,

11/18/26

.

5,243

5,211

FW2074679.UP.FTS.B,

30.95%,

11/18/26

.

973

68

FW2073859.UP.FTS.B,

30.99%,

11/18/26

.

1,966

1,954

FW2070830.UP.FTS.B,

31%,

11/18/26

...

3,651

3,629

FW2073526.UP.FTS.B,

31.02%,

11/18/26

.

1,779

1,768

FW2074592.UP.FTS.B,

31.05%,

11/18/26

.

936

931

FW2072552.UP.FTS.B,

31.11%,

11/18/26

.

7,880

7,828

FW2056277.UP.FTS.B,

31.13%,

11/18/26

.

8,135

8,080

FW2072505.UP.FTS.B,

31.14%,

11/18/26

.

2,267

2,154

FW2072451.UP.FTS.B,

31.15%,

11/18/26

.

1,027

1,020

FW2072386.UP.FTS.B,

31.16%,

11/18/26

.

6,649

6,609

FW2058162.UP.FTS.B,

31.17%,

11/18/26

.

937

931

FW2070865.UP.FTS.B,

31.17%,

11/18/26

.

1,499

1,490

FW2069864.UP.FTS.B,

31.2%,

11/18/26

..

3,373

3,352

FW2071894.UP.FTS.B,

31.21%,

11/18/26

.

7,680

7,634

FW2070287.UP.FTS.B,

31.24%,

11/18/26

.

3,466

3,445

FW2074713.UP.FTS.B,

31.25%,

11/18/26

.

6,560

6,521

FW2075045.UP.FTS.B,

31.38%,

11/18/26

.

7,047

496

FW2070592.UP.FTS.B,

31.39%,

11/18/26

.

3,972

3,929

FW2073462.UP.FTS.B,

31.41%,

11/18/26

.

2,436

2,421

FW2075149.UP.FTS.B,

31.58%,

11/18/26

.

2,289

680

FW2075141.UP.FTS.B,

31.72%,

11/18/26

.

3,187

3,168

FW2070994.UP.FTS.B,

31.74%,

11/18/26

.

11,164

(144)

FW2075135.UP.FTS.B,

32.07%,

11/18/26

.

2,810

2,793

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW2063602.UP.FTS.B,

32.22%,

11/18/26

.

$

3,550

$

249

FW2074829.UP.FTS.B,

32.37%,

11/18/26

.

5,251

1,561

L2213943.UP.FTS.B,

8.37%,

12/09/26

....

8,858

8,805

L2216952.UP.FTS.B,

8.42%,

12/09/26

....

16,238

16,143

L2217859.UP.FTS.B,

8.75%,

12/09/26

....

18,086

17,982

FW2218197.UP.FTS.B,

9.08%,

12/09/26

..

45,278

45,025

L2215533.UP.FTS.B,

9.49%,

12/09/26

....

4,527

4,501

L2214523.UP.FTS.B,

9.75%,

12/09/26

....

22,725

22,600

L2214639.UP.FTS.B,

9.77%,

12/09/26

....

7,706

7,662

L2217330.UP.FTS.B,

10.1%,

12/09/26

....

4,525

4,499

L2218472.UP.FTS.B,

10.62%,

12/09/26

...

1,937

1,914

L2215023.UP.FTS.B,

10.75%,

12/09/26

...

8,212

8,144

L2217133.UP.FTS.B,

11.03%,

12/09/26

...

22,669

22,475

L2214144.UP.FTS.B,

11.27%,

12/09/26

...

7,733

7,668

L2163677.UP.FTS.B,

11.56%,

12/09/26

...

29,048

28,800

FW2216190.UP.FTS.B,

12.02%,

12/09/26

.

4,557

4,519

L2214721.UP.FTS.B,

12.86%,

12/09/26

...

9,771

9,690

L2216322.UP.FTS.B,

12.95%,

12/09/26

...

9,864

9,782

L2215565.UP.FTS.B,

13.14%,

12/09/26

...

5,483

5,437

L2216898.UP.FTS.B,

13.16%,

12/09/26

...

9,595

9,515

L2214318.UP.FTS.B,

13.19%,

12/09/26

...

2,167

2,147

FW2214435.UP.FTS.B,

13.25%,

12/09/26

.

22,850

22,660

L2218652.UP.FTS.B,

13.28%,

12/09/26

...

9,689

9,608

L2214819.UP.FTS.B,

13.75%,

12/09/26

...

5,476

5,430

L2215433.UP.FTS.B,

14.02%,

12/09/26

...

1,831

1,816

L2218351.UP.FTS.B,

14.35%,

12/09/26

...

905

897

L2216941.UP.FTS.B,

14.73%,

12/09/26

...

2,751

2,729

L2212982.UP.FTS.B,

14.94%,

12/09/26

...

6,422

6,369

L2217202.UP.FTS.B,

15.56%,

12/09/26

...

3,858

3,827

L2215625.UP.FTS.B,

15.65%,

12/09/26

...

10,108

9,981

FW2214828.UP.FTS.B,

15.83%,

12/09/26

.

10,112

9,985

FW2217553.UP.FTS.B,

16.03%,

12/09/26

.

5,507

5,462

L2216039.UP.FTS.B,

16.11%,

12/09/26

...

4,599

4,542

FW2215838.UP.FTS.B,

16.38%,

12/09/26

.

7,355

7,263

FW2214018.UP.FTS.B,

16.4%,

12/09/26

..

18,407

18,178

L2215859.UP.FTS.B,

16.43%,

12/09/26

...

3,958

3,908

L2217862.UP.FTS.B,

16.51%,

12/09/26

...

10,126

10,000

L2215442.UP.FTS.B,

16.68%,

12/09/26

...

2,579

2,547

L2217548.UP.FTS.B,

17.23%,

12/09/26

...

13,829

13,658

L2216987.UP.FTS.B,

17.24%,

12/09/26

...

9,179

9,035

L2218677.UP.FTS.B,

17.27%,

12/09/26

...

5,532

5,464

L2216029.UP.FTS.B,

17.52%,

12/09/26

...

6,461

6,381

L2217491.UP.FTS.B,

17.56%,

12/09/26

...

2,860

2,825

L2214231.UP.FTS.B,

17.61%,

12/09/26

...

3,414

3,372

L2215266.UP.FTS.B,

17.71%,

12/09/26

...

7,383

7,292

L2217603.UP.FTS.B,

17.91%,

12/09/26

...

6,026

5,953

FW2217099.UP.FTS.B,

17.98%,

12/09/26

.

2,903

97

FW2216465.UP.FTS.B,

18.28%,

12/09/26

.

1,849

1,827

L2215903.UP.FTS.B,

18.3%,

12/09/26

....

3,678

3,632

L2190045.UP.FTS.B,

18.31%,

12/09/26

...

4,990

4,928

L2214500.UP.FTS.B,

18.31%,

12/09/26

...

30,300

16,840

FW2213955.UP.FTS.B,

18.45%,

12/09/26

.

8,319

8,216

L2217227.UP.FTS.B,

18.97%,

12/09/26

...

10,178

10,022

L2214101.UP.FTS.B,

19.31%,

12/09/26

...

5,926

5,835

L2215706.UP.FTS.B,

19.38%,

12/09/26

...

2,315

2,287

L2217348.UP.FTS.B,

19.38%,

12/09/26

...

6,532

6,435

L1356992.UP.FTS.B,

19.62%,

12/09/26

...

18,240

17,948

L2213701.UP.FTS.B,

19.91%,

12/09/26

...

2,688

2,647

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

376

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2215303.UP.FTS.B,

20.05%,

12/09/26

...

$

6,491

$

6,427

L2215734.UP.FTS.B,

20.13%,

12/09/26

...

30,991

4,353

L2216965.UP.FTS.B,

20.16%,

12/09/26

...

32,461

32,064

L2217514.UP.FTS.B,

20.23%,

12/09/26

...

4,848

135

L2215373.UP.FTS.B,

20.25%,

12/09/26

...

928

916

FW2216994.UP.FTS.B,

20.27%,

12/09/26

.

19,929

5,526

FW2217873.UP.FTS.B,

20.4%,

12/09/26

..

5,029

4,954

L2214363.UP.FTS.B,

20.5%,

12/09/26

....

15,093

8,380

FW2214210.UP.FTS.B,

20.55%,

12/09/26

.

4,641

4,570

L2217490.UP.FTS.B,

20.86%,

12/09/26

...

23,218

22,992

FW2213572.UP.FTS.B,

21.18%,

12/09/26

.

2,323

2,301

FW2215092.UP.FTS.B,

21.19%,

12/09/26

.

9,293

9,203

FW2215010.UP.FTS.B,

21.32%,

12/09/26

.

1,857

1,834

L2214734.UP.FTS.B,

21.37%,

12/09/26

...

10,077

9,921

L2216862.UP.FTS.B,

21.41%,

12/09/26

...

1,859

1,831

FW2215319.UP.FTS.B,

21.51%,

12/09/26

.

3,720

3,683

L2216377.UP.FTS.B,

21.52%,

12/09/26

...

14,879

14,734

L2215585.UP.FTS.B,

21.73%,

12/09/26

...

46,515

45,949

L2216265.UP.FTS.B,

21.78%,

12/09/26

...

4,652

4,607

L2217016.UP.FTS.B,

21.8%,

12/09/26

....

4,319

4,270

L2214771.UP.FTS.B,

21.93%,

12/09/26

...

2,233

2,212

L2217244.UP.FTS.B,

21.96%,

12/09/26

...

4,654

4,583

FW2217920.UP.FTS.B,

22.05%,

12/09/26

.

3,723

3,687

FW2218437.UP.FTS.B,

22.08%,

12/09/26

.

2,326

2,303

FW2217042.UP.FTS.B,

22.14%,

12/09/26

.

4,628

4,581

L2213576.UP.FTS.B,

22.2%,

12/09/26

....

3,240

3,188

L2216013.UP.FTS.B,

22.2%,

12/09/26

....

3,445

3,412

FW2217488.UP.FTS.B,

22.29%,

12/09/26

.

931

917

L2217604.UP.FTS.B,

22.37%,

12/09/26

...

3,260

3,211

L2217530.UP.FTS.B,

22.65%,

12/09/26

...

4,194

4,153

L2214498.UP.FTS.B,

22.72%,

12/09/26

...

1,943

36

L2216810.UP.FTS.B,

22.84%,

12/09/26

...

17,869

17,696

L2199212.UP.FTS.B,

23.01%,

12/09/26

...

14,912

14,767

FW2215013.UP.FTS.B,

23.03%,

12/09/26

.

13,989

13,853

FW2209695.UP.FTS.B,

23.37%,

12/09/26

.

4,641

4,594

L2214174.UP.FTS.B,

23.38%,

12/09/26

...

989

973

L2218623.UP.FTS.B,

23.41%,

12/09/26

...

4,106

4,067

FW2215830.UP.FTS.B,

23.46%,

12/09/26

.

1,027

1,017

L2216373.UP.FTS.B,

23.47%,

12/09/26

...

1,975

141

FW2216012.UP.FTS.B,

23.5%,

12/09/26

..

14,000

13,865

L2217598.UP.FTS.B,

23.52%,

12/09/26

...

8,961

8,874

L2216754.UP.FTS.B,

23.73%,

12/09/26

...

12,620

12,493

FW2216167.UP.FTS.B,

23.76%,

12/09/26

.

5,603

5,549

L2218003.UP.FTS.B,

23.87%,

12/09/26

...

2,335

2,313

L2214776.UP.FTS.B,

24.04%,

12/09/26

...

10,298

6,129

FW2215962.UP.FTS.B,

24.1%,

12/09/26

..

4,672

4,627

FW2218127.UP.FTS.B,

24.14%,

12/09/26

.

9,345

9,255

L2198465.UP.FTS.B,

24.17%,

12/09/26

...

4,654

4,608

L2216720.UP.FTS.B,

24.17%,

12/09/26

...

48,180

13,892

L2216002.UP.FTS.B,

24.2%,

12/09/26

....

4,392

4,350

FW2214164.UP.FTS.B,

24.23%,

12/09/26

.

32,899

32,402

L2217220.UP.FTS.B,

24.27%,

12/09/26

...

4,656

4,611

L2215396.UP.FTS.B,

24.34%,

12/09/26

...

4,013

3,974

FW2214689.UP.FTS.B,

24.38%,

12/09/26

.

8,490

8,408

L2216646.UP.FTS.B,

24.42%,

12/09/26

...

9,471

9,379

L2218752.UP.FTS.B,

24.44%,

12/09/26

...

1,578

1,562

L2216938.UP.FTS.B,

24.5%,

12/09/26

....

8,283

1,225

FW2217399.UP.FTS.B,

24.73%,

12/09/26

.

6,704

6,637

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L2217818.UP.FTS.B,

24.73%,

12/09/26

...

$

1,684

$

1,668

L2217516.UP.FTS.B,

24.76%,

12/09/26

...

1,395

1,381

FW2214209.UP.FTS.B,

24.78%,

12/09/26

.

3,742

3,706

L2218428.UP.FTS.B,

25.03%,

12/09/26

...

1,404

1,390

L2215888.UP.FTS.B,

25.06%,

12/09/26

...

946

564

L2216782.UP.FTS.B,

25.06%,

12/09/26

...

3,271

3,221

FW2216919.UP.FTS.B,

25.11%,

12/09/26

.

2,159

37

L2215729.UP.FTS.B,

25.13%,

12/09/26

...

14,042

13,907

L2215091.UP.FTS.B,

25.15%,

12/09/26

...

2,997

2,968

L2214317.UP.FTS.B,

25.17%,

12/09/26

...

4,607

4,554

L2215559.UP.FTS.B,

25.19%,

12/09/26

...

1,397

1,376

FW2217651.UP.FTS.B,

25.2%,

12/09/26

..

3,745

3,709

L2218678.UP.FTS.B,

25.2%,

12/09/26

....

1,973

1,953

L2215589.UP.FTS.B,

25.25%,

12/09/26

...

2,075

2,042

L2216050.UP.FTS.B,

25.25%,

12/09/26

...

4,672

44

L2217252.UP.FTS.B,

25.25%,

12/09/26

...

1,870

1,842

L2215557.UP.FTS.B,

25.29%,

12/09/26

...

2,154

2,133

L2217781.UP.FTS.B,

25.34%,

12/09/26

...

2,360

172

FW2217958.UP.FTS.B,

25.35%,

12/09/26

.

4,215

4,175

L2215431.UP.FTS.B,

25.39%,

12/09/26

...

2,154

2,128

L2213659.UP.FTS.B,

25.4%,

12/09/26

....

3,559

3,525

L2217765.UP.FTS.B,

25.4%,

12/09/26

....

1,030

1,020

L2215136.UP.FTS.B,

25.42%,

12/09/26

...

4,589

4,520

L2216524.UP.FTS.B,

25.42%,

12/09/26

...

9,256

9,167

L2214897.UP.FTS.B,

25.44%,

12/09/26

...

15,360

15,213

L2214140.UP.FTS.B,

25.45%,

12/09/26

...

3,347

3,314

L2217964.UP.FTS.B,

25.45%,

12/09/26

...

5,994

5,937

L2213733.UP.FTS.B,

25.47%,

12/09/26

...

1,370

1,346

L2214064.UP.FTS.B,

25.48%,

12/09/26

...

4,590

4,546

L2216607.UP.FTS.B,

25.48%,

12/09/26

...

2,810

2,783

L2216927.UP.FTS.B,

25.5%,

12/09/26

....

1,311

1,299

L2214552.UP.FTS.B,

25.53%,

12/09/26

...

4,684

4,639

FW2216203.UP.FTS.B,

25.54%,

12/09/26

.

6,378

6,311

L2215412.UP.FTS.B,

25.55%,

12/09/26

...

3,671

264

L2215071.UP.FTS.B,

25.57%,

12/09/26

...

4,216

4,173

L2214345.UP.FTS.B,

25.65%,

12/09/26

...

2,811

2,785

L2214388.UP.FTS.B,

25.7%,

12/09/26

....

3,474

3,439

L2218260.UP.FTS.B,

25.7%,

12/09/26

....

6,184

6,125

L2213909.UP.FTS.B,

25.76%,

12/09/26

...

5,052

5,003

FW2217031.UP.FTS.B,

25.82%,

12/09/26

.

5,664

5,609

L2218303.UP.FTS.B,

25.88%,

12/09/26

...

5,999

5,942

L2214062.UP.FTS.B,

25.9%,

12/09/26

....

3,656

3,622

L2216795.UP.FTS.B,

26.15%,

12/09/26

...

12,660

12,539

L2216827.UP.FTS.B,

26.18%,

12/09/26

...

3,896

23

L2217875.UP.FTS.B,

26.21%,

12/09/26

...

7,535

7,461

FW2214935.UP.FTS.B,

26.5%,

12/09/26

..

717

704

FW2214103.UP.FTS.B,

26.54%,

12/09/26

.

28,152

27,884

FW2216892.UP.FTS.B,

26.56%,

12/09/26

.

1,461

209

L2218511.UP.FTS.B,

26.56%,

12/09/26

...

6,844

6,778

FW2214150.UP.FTS.B,

26.84%,

12/09/26

.

2,066

2,046

FW2214024.UP.FTS.B,

26.86%,

12/09/26

.

5,324

5,273

FW2215535.UP.FTS.B,

27.65%,

12/09/26

.

9,009

5,377

FW2215384.UP.FTS.B,

27.87%,

12/09/26

.

9,405

9,316

FW2214874.UP.FTS.B,

27.9%,

12/09/26

..

4,703

4,658

FW2214657.UP.FTS.B,

27.98%,

12/09/26

.

941

932

FW2215725.UP.FTS.B,

28.05%,

12/09/26

.

7,585

7,512

FW2217484.UP.FTS.B,

28.11%,

12/09/26

.

8,468

8,387

FW2218670.UP.FTS.B,

28.43%,

12/09/26

.

2,978

210

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

377

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

FW2216921.UP.FTS.B,

28.44%,

12/09/26

.

$

16,191

$

16,038

FW2215661.UP.FTS.B,

28.62%,

12/09/26

.

11,300

11,193

FW2216936.UP.FTS.B,

28.81%,

12/09/26

.

4,635

4,589

FW2217297.UP.FTS.B,

28.83%,

12/09/26

.

2,826

2,799

FW2215767.UP.FTS.B,

28.86%,

12/09/26

.

18,961

18,779

FW2214086.UP.FTS.B,

28.88%,

12/09/26

.

6,807

(47)

FW2216459.UP.FTS.B,

29.02%,

12/09/26

.

13,951

13,809

FW2216442.UP.FTS.B,

29.14%,

12/09/26

.

8,532

8,450

FW2214740.UP.FTS.B,

29.52%,

12/09/26

.

7,017

6,947

FW2215387.UP.FTS.B,

29.86%,

12/09/26

.

952

570

FW2216717.UP.FTS.B,

29.9%,

12/09/26

..

1,227

1,215

FW2216931.UP.FTS.B,

29.9%,

12/09/26

..

7,488

7,414

FW2218562.UP.FTS.B,

29.96%,

12/09/26

.

944

935

FW2218668.UP.FTS.B,

30.04%,

12/09/26

.

1,888

1,870

FW2216920.UP.FTS.B,

30.07%,

12/09/26

.

951

569

FW2216935.UP.FTS.B,

30.07%,

12/09/26

.

1,247

1,229

FW2216312.UP.FTS.B,

30.43%,

12/09/26

.

16,697

16,461

FW2215268.UP.FTS.B,

30.49%,

12/09/26

.

1,042

1,029

FW2217960.UP.FTS.B,

30.51%,

12/09/26

.

4,723

4,678

FW2217757.UP.FTS.B,

30.55%,

12/09/26

.

2,862

2,834

FW2216336.UP.FTS.B,

30.57%,

12/09/26

.

15,586

15,440

FW2215575.UP.FTS.B,

30.72%,

12/09/26

.

3,419

3,386

FW2218331.UP.FTS.B,

30.75%,

12/09/26

.

5,680

5,625

FW2214286.UP.FTS.B,

30.83%,

12/09/26

.

19,927

19,743

FW2216633.UP.FTS.B,

30.84%,

12/09/26

.

945

936

FW2216308.UP.FTS.B,

30.91%,

12/09/26

.

3,115

3,086

FW2218159.UP.FTS.B,

30.95%,

12/09/26

.

15,809

15,630

FW2213785.UP.FTS.B,

30.97%,

12/09/26

.

2,962

2,934

FW2214513.UP.FTS.B,

31.01%,

12/09/26

.

2,909

426

FW2218340.UP.FTS.B,

31.07%,

12/09/26

.

7,587

7,514

FW2216676.UP.FTS.B,

31.08%,

12/09/26

.

1,192

84

FW2216975.UP.FTS.B,

31.08%,

12/09/26

.

3,036

1,818

FW2205180.UP.FTS.B,

31.15%,

12/09/26

.

26,945

26,693

FW2216383.UP.FTS.B,

31.17%,

12/09/26

.

6,240

6,148

FW2216908.UP.FTS.B,

31.2%,

12/09/26

..

3,208

3,177

FW2214022.UP.FTS.B,

31.21%,

12/09/26

.

4,538

4,496

FW2214573.UP.FTS.B,

31.21%,

12/09/26

.

1,291

91

FW2217115.UP.FTS.B,

31.21%,

12/09/26

.

2,116

615

FW2217843.UP.FTS.B,

31.21%,

12/09/26

.

1,224

1,212

FW2213968.UP.FTS.B,

31.23%,

12/09/26

.

25,226

3,660

FW2218521.UP.FTS.B,

31.24%,

12/09/26

.

3,078

899

FW2216011.UP.FTS.B,

31.3%,

12/09/26

..

2,080

2,061

FW2215916.UP.FTS.B,

31.42%,

12/09/26

.

1,608

1,593

FW2214674.UP.FTS.B,

31.47%,

12/09/26

.

2,460

2,437

FW2217430.UP.FTS.B,

31.5%,

12/09/26

..

4,044

4,005

FW2215821.UP.FTS.B,

31.64%,

12/09/26

.

7,569

7,498

FW2218689.UP.FTS.B,

31.74%,

12/09/26

.

8,870

627

FW2216725.UP.FTS.B,

31.78%,

12/09/26

.

5,420

5,368

FW2216867.UP.FTS.B,

31.83%,

12/09/26

.

5,019

3,006

FW2217876.UP.FTS.B,

31.85%,

12/09/26

.

3,875

274

FW2215587.UP.FTS.B,

32.03%,

12/09/26

.

7,164

4,296

FW2217138.UP.FTS.B,

32.58%,

12/09/26

.

7,011

6,946

FW2219336.UP.FTS.B,

7.29%,

12/10/26

..

9,010

8,957

L2221765.UP.FTS.B,

7.56%,

12/10/26

....

9,025

8,974

FW2218855.UP.FTS.B,

7.72%,

12/10/26

..

6,664

6,637

L2220935.UP.FTS.B,

8.04%,

12/10/26

....

9,930

9,873

L2220551.UP.FTS.B,

8.19%,

12/10/26

....

1,987

1,975

L2222014.UP.FTS.B,

9.11%,

12/10/26

....

22,628

22,499

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L2220654.UP.FTS.B,

9.13%,

12/10/26

....

$

22,572

$

22,443

L2220216.UP.FTS.B,

9.67%,

12/10/26

....

19,000

18,876

L2221664.UP.FTS.B,

9.98%,

12/10/26

....

8,427

8,347

FW2219804.UP.FTS.B,

10.44%,

12/10/26

.

9,080

9,004

L2219088.UP.FTS.B,

10.44%,

12/10/26

...

19,503

19,339

FW2222412.UP.FTS.B,

10.49%,

12/10/26

.

908

903

L2220336.UP.FTS.B,

11.03%,

12/10/26

...

5,192

5,145

L2221448.UP.FTS.B,

11.13%,

12/10/26

...

2,963

217

L2220236.UP.FTS.B,

11.73%,

12/10/26

...

19,585

19,423

L2221415.UP.FTS.B,

11.88%,

12/10/26

...

5,272

5,228

L2222334.UP.FTS.B,

11.99%,

12/10/26

...

13,082

3,299

L2222184.UP.FTS.B,

12.02%,

12/10/26

...

7,656

7,593

L2220985.UP.FTS.B,

12.19%,

12/10/26

...

1,821

1,806

L2220260.UP.FTS.B,

12.23%,

12/10/26

...

45,594

45,217

L2219210.UP.FTS.B,

12.38%,

12/10/26

...

4,154

2,177

L2222593.UP.FTS.B,

12.51%,

12/10/26

...

5,929

432

L2218865.UP.FTS.B,

12.56%,

12/10/26

...

2,741

2,719

L2205063.UP.FTS.B,

12.6%,

12/10/26

....

4,239

4,202

L2220963.UP.FTS.B,

12.62%,

12/10/26

...

19,524

1,415

L2211511.UP.FTS.B,

12.64%,

12/10/26

...

46,783

24,592

L2221618.UP.FTS.B,

12.8%,

12/10/26

....

5,156

5,108

L2221708.UP.FTS.B,

13%,

12/10/26

.....

4,465

4,423

FW2220027.UP.FTS.B,

13.09%,

12/10/26

.

9,137

9,062

FW2220942.UP.FTS.B,

13.11%,

12/10/26

.

4,112

4,078

L2221352.UP.FTS.B,

13.11%,

12/10/26

...

914

906

L2221255.UP.FTS.B,

13.17%,

12/10/26

...

6,854

6,798

L2220245.UP.FTS.B,

13.24%,

12/10/26

...

24,312

24,113

L2220618.UP.FTS.B,

13.32%,

12/10/26

...

39,126

38,806

L2221709.UP.FTS.B,

13.43%,

12/10/26

...

14,538

14,419

L2218875.UP.FTS.B,

13.44%,

12/10/26

...

10,973

10,883

L2221936.UP.FTS.B,

13.59%,

12/10/26

...

5,854

5,806

L2220922.UP.FTS.B,

13.6%,

12/10/26

....

6,403

6,351

L2222570.UP.FTS.B,

13.7%,

12/10/26

....

4,584

4,547

L2219610.UP.FTS.B,

13.72%,

12/10/26

...

2,821

715

L2194347.UP.FTS.B,

13.85%,

12/10/26

...

5,470

5,425

L2211103.UP.FTS.B,

13.86%,

12/10/26

...

11,935

11,840

FW2219474.UP.FTS.B,

13.95%,

12/10/26

.

9,398

2,392

L2222515.UP.FTS.B,

14.14%,

12/10/26

...

6,411

6,359

L2221071.UP.FTS.B,

14.15%,

12/10/26

...

7,785

7,721

L2221648.UP.FTS.B,

14.47%,

12/10/26

...

11,046

10,959

FW2219337.UP.FTS.B,

14.64%,

12/10/26

.

5,501

5,456

L2219179.UP.FTS.B,

14.67%,

12/10/26

...

3,626

3,596

L2221548.UP.FTS.B,

14.74%,

12/10/26

...

917

910

L2220695.UP.FTS.B,

14.81%,

12/10/26

...

4,588

4,552

FW2222326.UP.FTS.B,

14.82%,

12/10/26

.

16,051

15,921

L2221125.UP.FTS.B,

15.5%,

12/10/26

....

1,837

1,822

L2219252.UP.FTS.B,

15.58%,

12/10/26

...

5,045

4,974

L2218671.UP.FTS.B,

15.6%,

12/10/26

....

4,594

4,538

L2219311.UP.FTS.B,

15.7%,

12/10/26

....

18,012

17,791

L2194261.UP.FTS.B,

15.71%,

12/10/26

...

11,054

10,920

FW2219230.UP.FTS.B,

15.75%,

12/10/26

.

10,184

10,063

L2220760.UP.FTS.B,

15.79%,

12/10/26

...

3,033

2,996

L2219293.UP.FTS.B,

15.87%,

12/10/26

...

13,790

13,679

L2220004.UP.FTS.B,

15.97%,

12/10/26

...

4,781

4,743

L2222083.UP.FTS.B,

16.07%,

12/10/26

...

1,380

1,369

L2219654.UP.FTS.B,

16.29%,

12/10/26

...

2,852

2,817

FW2221540.UP.FTS.B,

16.4%,

12/10/26

..

1,103

1,085

FW2221673.UP.FTS.B,

16.43%,

12/10/26

.

4,777

649

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

378

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2219994.UP.FTS.B,

16.63%,

12/10/26

...

$

6,446

$

6,394

FW2221359.UP.FTS.B,

17.28%,

12/10/26

.

3,135

3,097

L2219369.UP.FTS.B,

17.34%,

12/10/26

...

9,222

9,149

FW2221538.UP.FTS.B,

17.36%,

12/10/26

.

14,755

14,576

L2219356.UP.FTS.B,

17.56%,

12/10/26

...

9,872

9,752

L2183750.UP.FTS.B,

17.62%,

12/10/26

...

7,382

7,292

L2220037.UP.FTS.B,

17.77%,

12/10/26

...

2,954

2,918

L2220747.UP.FTS.B,

18.08%,

12/10/26

...

9,256

9,145

L2219692.UP.FTS.B,

18.1%,

12/10/26

....

2,970

2,935

L2222111.UP.FTS.B,

18.1%,

12/10/26

....

5,080

5,018

FW2217304.UP.FTS.B,

18.29%,

12/10/26

.

924

910

L2219741.UP.FTS.B,

18.33%,

12/10/26

...

4,990

4,915

FW2219267.UP.FTS.B,

18.39%,

12/10/26

.

7,394

7,283

L2218279.UP.FTS.B,

18.41%,

12/10/26

...

4,611

4,542

L2220278.UP.FTS.B,

18.47%,

12/10/26

...

5,546

5,479

L2221746.UP.FTS.B,

18.66%,

12/10/26

...

4,854

1,351

L2221646.UP.FTS.B,

18.79%,

12/10/26

...

9,327

9,192

L2211401.UP.FTS.B,

18.86%,

12/10/26

...

27,940

27,532

L2206502.UP.FTS.B,

18.87%,

12/10/26

...

1,665

1,645

L2219245.UP.FTS.B,

18.95%,

12/10/26

...

926

919

L2210120.UP.FTS.B,

18.97%,

12/10/26

...

3,146

3,099

FW2218896.UP.FTS.B,

19.03%,

12/10/26

.

7,403

7,292

FW2219505.UP.FTS.B,

19.04%,

12/10/26

.

21,284

20,964

L2221598.UP.FTS.B,

19.31%,

12/10/26

...

33,170

9,196

L2219936.UP.FTS.B,

19.32%,

12/10/26

...

10,833

10,703

FW2219062.UP.FTS.B,

19.4%,

12/10/26

..

5,541

5,457

L2221797.UP.FTS.B,

19.44%,

12/10/26

...

15,712

15,475

L2221701.UP.FTS.B,

19.55%,

12/10/26

...

6,516

6,439

L2221919.UP.FTS.B,

19.66%,

12/10/26

...

5,189

5,111

L2220257.UP.FTS.B,

19.73%,

12/10/26

...

4,633

4,578

L2221739.UP.FTS.B,

19.78%,

12/10/26

...

8,341

8,262

L2221097.UP.FTS.B,

19.86%,

12/10/26

...

2,243

2,207

L2222299.UP.FTS.B,

20.17%,

12/10/26

...

5,565

5,498

L2220633.UP.FTS.B,

20.25%,

12/10/26

...

12,245

12,130

L2220113.UP.FTS.B,

20.52%,

12/10/26

...

4,640

4,597

L2219823.UP.FTS.B,

20.59%,

12/10/26

...

5,286

5,223

L2221612.UP.FTS.B,

20.59%,

12/10/26

...

11,139

11,034

FW2220424.UP.FTS.B,

20.74%,

12/10/26

.

30,223

2,185

FW2219339.UP.FTS.B,

20.87%,

12/10/26

.

1,917

276

L2219928.UP.FTS.B,

20.9%,

12/10/26

....

4,571

4,492

L2222005.UP.FTS.B,

20.98%,

12/10/26

...

13,535

13,365

L2219971.UP.FTS.B,

21.13%,

12/10/26

...

7,367

7,276

L2221600.UP.FTS.B,

21.39%,

12/10/26

...

8,925

8,818

FW2219568.UP.FTS.B,

21.42%,

12/10/26

.

1,792

1,769

L2220292.UP.FTS.B,

21.61%,

12/10/26

...

9,334

9,242

L2222012.UP.FTS.B,

21.64%,

12/10/26

...

3,267

3,235

FW2219145.UP.FTS.B,

21.86%,

12/10/26

.

15,633

15,487

L2221488.UP.FTS.B,

22.09%,

12/10/26

...

1,408

1,394

FW2220653.UP.FTS.B,

22.15%,

12/10/26

.

5,620

5,566

FW2220221.UP.FTS.B,

22.46%,

12/10/26

.

6,521

6,460

L2218789.UP.FTS.B,

22.64%,

12/10/26

...

5,591

5,539

L2217989.UP.FTS.B,

22.68%,

12/10/26

...

4,101

4,040

L2219015.UP.FTS.B,

22.73%,

12/10/26

...

6,524

6,463

L2219813.UP.FTS.B,

22.77%,

12/10/26

...

1,590

1,564

L2210114.UP.FTS.B,

22.83%,

12/10/26

...

1,171

26

FW2220294.UP.FTS.B,

22.87%,

12/10/26

.

18,646

18,472

L2219342.UP.FTS.B,

22.94%,

12/10/26

...

2,828

1,682

L2222328.UP.FTS.B,

22.95%,

12/10/26

...

18,648

18,475

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L2221731.UP.FTS.B,

23.05%,

12/10/26

...

$

5,596

$

5,544

L2219249.UP.FTS.B,

23.16%,

12/10/26

...

5,577

5,524

FW2212786.UP.FTS.B,

23.27%,

12/10/26

.

1,809

1,790

L2221493.UP.FTS.B,

23.3%,

12/10/26

....

3,704

3,668

L2219995.UP.FTS.B,

23.54%,

12/10/26

...

3,517

3,475

L2190121.UP.FTS.B,

23.59%,

12/10/26

...

5,357

383

L2221153.UP.FTS.B,

23.7%,

12/10/26

....

5,111

360

L2220687.UP.FTS.B,

23.72%,

12/10/26

...

2,796

2,769

FW2220079.UP.FTS.B,

23.76%,

12/10/26

.

3,548

3,516

FW2221047.UP.FTS.B,

23.77%,

12/10/26

.

4,296

4,256

L2222165.UP.FTS.B,

23.77%,

12/10/26

...

6,114

6,056

L2222062.UP.FTS.B,

23.82%,

12/10/26

...

11,675

11,502

L2222173.UP.FTS.B,

23.88%,

12/10/26

...

13,096

12,968

L2220670.UP.FTS.B,

23.96%,

12/10/26

...

3,038

2,998

FW2214196.UP.FTS.B,

23.98%,

12/10/26

.

5,627

5,573

L2222118.UP.FTS.B,

24.15%,

12/10/26

...

2,803

2,777

FW2220544.UP.FTS.B,

24.21%,

12/10/26

.

9,137

9,026

FW2220266.UP.FTS.B,

24.3%,

12/10/26

..

3,435

994

L2219719.UP.FTS.B,

24.34%,

12/10/26

...

1,402

1,389

FW2220794.UP.FTS.B,

24.46%,

12/10/26

.

4,905

4,860

L2219944.UP.FTS.B,

24.47%,

12/10/26

...

2,736

2,707

FW2220709.UP.FTS.B,

24.66%,

12/10/26

.

2,170

2,144

L2222302.UP.FTS.B,

24.68%,

12/10/26

...

4,718

4,675

L2221940.UP.FTS.B,

24.71%,

12/10/26

...

5,145

5,097

L2220990.UP.FTS.B,

24.8%,

12/10/26

....

4,702

4,657

L2218904.UP.FTS.B,

24.83%,

12/10/26

...

18,712

18,539

L2213331.UP.FTS.B,

24.88%,

12/10/26

...

2,459

173

L2219046.UP.FTS.B,

24.89%,

12/10/26

...

5,614

5,562

L2220582.UP.FTS.B,

24.94%,

12/10/26

...

7,908

7,832

FW2222025.UP.FTS.B,

24.95%,

12/10/26

.

9,359

9,273

L2221318.UP.FTS.B,

24.95%,

12/10/26

...

2,246

2,225

FW2221001.UP.FTS.B,

24.99%,

12/10/26

.

4,679

4,636

L2221560.UP.FTS.B,

25.03%,

12/10/26

...

2,240

2,219

FW2221927.UP.FTS.B,

25.04%,

12/10/26

.

22,550

22,304

L2213266.UP.FTS.B,

25.07%,

12/10/26

...

1,028

291

L2219295.UP.FTS.B,

25.08%,

12/10/26

...

8,213

2,371

L2220844.UP.FTS.B,

25.09%,

12/10/26

...

2,434

2,411

L2222466.UP.FTS.B,

25.12%,

12/10/26

...

9,829

9,738

FW2219598.UP.FTS.B,

25.14%,

12/10/26

.

1,868

1,850

L2222197.UP.FTS.B,

25.16%,

12/10/26

...

2,443

2,420

FW2220337.UP.FTS.B,

25.2%,

12/10/26

..

3,769

3,734

FW2219626.UP.FTS.B,

25.21%,

12/10/26

.

5,056

5,009

L2222138.UP.FTS.B,

25.24%,

12/10/26

...

20,439

205

L2219105.UP.FTS.B,

25.3%,

12/10/26

....

10,394

10,298

L2209708.UP.FTS.B,

25.32%,

12/10/26

...

1,405

1,392

L2219458.UP.FTS.B,

25.35%,

12/10/26

...

1,967

1,938

L2221412.UP.FTS.B,

25.35%,

12/10/26

...

1,460

423

L2218915.UP.FTS.B,

25.37%,

12/10/26

...

8,990

8,885

L2222460.UP.FTS.B,

25.39%,

12/10/26

...

3,065

3,031

FW2218886.UP.FTS.B,

25.43%,

12/10/26

.

7,787

2,266

FW2220401.UP.FTS.B,

25.43%,

12/10/26

.

2,810

2,784

L2221428.UP.FTS.B,

25.43%,

12/10/26

...

8,804

8,723

L2219496.UP.FTS.B,

25.44%,

12/10/26

...

1,124

1,114

L2221819.UP.FTS.B,

25.44%,

12/10/26

...

13,820

3,991

L2219737.UP.FTS.B,

25.45%,

12/10/26

...

2,154

2,134

L2218573.UP.FTS.B,

25.46%,

12/10/26

...

4,537

4,495

L2222516.UP.FTS.B,

25.46%,

12/10/26

...

1,026

1,012

L2218665.UP.FTS.B,

25.47%,

12/10/26

...

2,239

2,217

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

379

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2181395.UP.FTS.B,

25.48%,

12/10/26

...

$

4,496

$

4,455

L2222196.UP.FTS.B,

25.5%,

12/10/26

....

2,248

2,227

L2222524.UP.FTS.B,

25.5%,

12/10/26

....

2,529

2,506

L2219005.UP.FTS.B,

25.75%,

12/10/26

...

3,374

3,343

L2219909.UP.FTS.B,

25.83%,

12/10/26

...

2,812

2,786

L2218850.UP.FTS.B,

25.86%,

12/10/26

...

8,979

8,895

L2215001.UP.FTS.B,

25.92%,

12/10/26

...

3,902

3,846

FW2221223.UP.FTS.B,

26.01%,

12/10/26

.

2,976

213

FW2221345.UP.FTS.B,

26.17%,

12/10/26

.

2,705

2,676

FW2217975.UP.FTS.B,

26.18%,

12/10/26

.

34,700

34,381

FW2219135.UP.FTS.B,

26.36%,

12/10/26

.

3,969

284

FW2221416.UP.FTS.B,

26.49%,

12/10/26

.

3,753

3,719

L2220148.UP.FTS.B,

26.68%,

12/10/26

...

5,162

5,087

FW2222082.UP.FTS.B,

26.8%,

12/10/26

..

21,822

6,347

FW2216682.UP.FTS.B,

26.9%,

12/10/26

..

5,634

5,582

FW2221698.UP.FTS.B,

26.97%,

12/10/26

.

7,545

7,474

FW2220970.UP.FTS.B,

26.98%,

12/10/26

.

934

925

FW2220451.UP.FTS.B,

27.06%,

12/10/26

.

29,822

29,533

FW2219378.UP.FTS.B,

27.07%,

12/10/26

.

11,271

11,168

FW2221051.UP.FTS.B,

27.18%,

12/10/26

.

10,333

10,239

FW2221990.UP.FTS.B,

27.25%,

12/10/26

.

5,316

780

FW2219807.UP.FTS.B,

27.31%,

12/10/26

.

5,571

5,517

FW2221994.UP.FTS.B,

27.39%,

12/10/26

.

2,443

2,421

FW2220411.UP.FTS.B,

27.41%,

12/10/26

.

5,639

5,587

FW2220729.UP.FTS.B,

27.41%,

12/10/26

.

8,270

8,195

FW2220416.UP.FTS.B,

27.46%,

12/10/26

.

2,820

2,794

FW2218817.UP.FTS.B,

27.5%,

12/10/26

..

5,139

5,091

FW2221398.UP.FTS.B,

27.53%,

12/10/26

.

4,931

4,886

L2219250.UP.FTS.B,

27.55%,

12/10/26

...

23,312

23,099

FW2221651.UP.FTS.B,

27.6%,

12/10/26

..

9,401

9,315

FW2220064.UP.FTS.B,

27.61%,

12/10/26

.

2,244

2,222

FW2215355.UP.FTS.B,

27.68%,

12/10/26

.

1,054

305

FW2215062.UP.FTS.B,

27.89%,

12/10/26

.

2,434

2,411

FW2218990.UP.FTS.B,

27.91%,

12/10/26

.

1,770

263

FW2219635.UP.FTS.B,

27.99%,

12/10/26

.

8,954

8,855

FW2219847.UP.FTS.B,

28.03%,

12/10/26

.

5,560

5,503

FW2220128.UP.FTS.B,

28.06%,

12/10/26

.

4,704

4,661

FW2220187.UP.FTS.B,

28.24%,

12/10/26

.

4,926

1,441

FW2219943.UP.FTS.B,

28.3%,

12/10/26

..

10,164

10,072

FW2217890.UP.FTS.B,

28.41%,

12/10/26

.

1,694

1,679

FW2219819.UP.FTS.B,

28.69%,

12/10/26

.

17,939

17,769

FW2221547.UP.FTS.B,

28.78%,

12/10/26

.

3,297

3,267

FW2221253.UP.FTS.B,

28.97%,

12/10/26

.

6,595

6,535

FW2220333.UP.FTS.B,

29.02%,

12/10/26

.

5,366

788

FW2221942.UP.FTS.B,

29.08%,

12/10/26

.

17,175

17,020

FW2222054.UP.FTS.B,

29.08%,

12/10/26

.

7,539

7,471

FW2221264.UP.FTS.B,

29.23%,

12/10/26

.

5,423

1,579

FW2219596.UP.FTS.B,

29.28%,

12/10/26

.

4,902

4,857

FW2219042.UP.FTS.B,

29.37%,

12/10/26

.

7,116

7,048

FW2218160.UP.FTS.B,

29.47%,

12/10/26

.

4,526

4,485

FW2219414.UP.FTS.B,

29.72%,

12/10/26

.

5,632

5,579

FW2218780.UP.FTS.B,

29.8%,

12/10/26

..

5,121

3,066

FW2220353.UP.FTS.B,

29.92%,

12/10/26

.

2,838

2,812

FW2218450.UP.FTS.B,

29.93%,

12/10/26

.

1,538

447

FW2222345.UP.FTS.B,

30.23%,

12/10/26

.

6,682

6,622

FW2218792.UP.FTS.B,

30.24%,

12/10/26

.

1,953

(16)

FW2221075.UP.FTS.B,

30.26%,

12/10/26

.

3,304

3,275

FW2221564.UP.FTS.B,

30.28%,

12/10/26

.

3,588

3,555

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW2217065.UP.FTS.B,

30.33%,

12/10/26

.

$

4,249

$

4,211

FW2221531.UP.FTS.B,

30.36%,

12/10/26

.

3,305

3,275

FW2220084.UP.FTS.B,

30.41%,

12/10/26

.

1,889

1,872

FW2221439.UP.FTS.B,

30.5%,

12/10/26

..

2,078

2,059

FW2221749.UP.FTS.B,

30.5%,

12/10/26

..

1,087

1,075

FW2221679.UP.FTS.B,

30.52%,

12/10/26

.

2,981

2,941

FW2218883.UP.FTS.B,

30.53%,

12/10/26

.

7,626

7,559

FW2219455.UP.FTS.B,

30.53%,

12/10/26

.

1,414

1,401

FW2219854.UP.FTS.B,

30.55%,

12/10/26

.

3,306

3,276

FW2220470.UP.FTS.B,

30.6%,

12/10/26

..

3,684

3,651

FW2219637.UP.FTS.B,

30.65%,

12/10/26

.

2,809

2,782

FW2219219.UP.FTS.B,

30.68%,

12/10/26

.

3,307

3,259

FW2219236.UP.FTS.B,

30.82%,

12/10/26

.

2,160

2,140

FW2221500.UP.FTS.B,

30.88%,

12/10/26

.

1,530

1,516

FW2222124.UP.FTS.B,

30.9%,

12/10/26

..

806

792

FW2215534.UP.FTS.B,

30.92%,

12/10/26

.

945

937

FW2221902.UP.FTS.B,

30.92%,

12/10/26

.

1,592

953

FW2220263.UP.FTS.B,

30.95%,

12/10/26

.

19,928

1,390

FW2219745.UP.FTS.B,

31.03%,

12/10/26

.

2,174

2,154

FW2220907.UP.FTS.B,

31.08%,

12/10/26

.

8,674

2,529

FW2218787.UP.FTS.B,

31.1%,

12/10/26

..

7,885

2,297

FW2219211.UP.FTS.B,

31.11%,

12/10/26

.

4,263

4,223

FW2220020.UP.FTS.B,

31.12%,

12/10/26

.

1,040

1,031

FW2218821.UP.FTS.B,

31.13%,

12/10/26

.

2,269

2,248

FW2221543.UP.FTS.B,

31.13%,

12/10/26

.

4,579

4,539

FW2219559.UP.FTS.B,

31.14%,

12/10/26

.

2,676

1,595

FW2218737.UP.FTS.B,

31.19%,

12/10/26

.

1,765

(16)

FW2215261.UP.FTS.B,

31.21%,

12/10/26

.

1,698

1,682

FW2216231.UP.FTS.B,

31.22%,

12/10/26

.

3,309

3,280

FW2219100.UP.FTS.B,

31.23%,

12/10/26

.

1,466

(18)

FW2221322.UP.FTS.B,

31.23%,

12/10/26

.

2,931

2,905

FW2219222.UP.FTS.B,

31.25%,

12/10/26

.

3,520

3,485

FW2218939.UP.FTS.B,

31.36%,

12/10/26

.

3,783

3,749

FW2219989.UP.FTS.B,

31.38%,

12/10/26

.

3,759

3,723

FW2220034.UP.FTS.B,

31.4%,

12/10/26

..

3,064

1,839

FW2221748.UP.FTS.B,

31.55%,

12/10/26

.

4,631

4,590

FW2219361.UP.FTS.B,

31.69%,

12/10/26

.

13,909

13,785

FW2222019.UP.FTS.B,

31.71%,

12/10/26

.

6,624

6,564

FW2220308.UP.FTS.B,

31.92%,

12/10/26

.

3,412

20

FW2219266.UP.FTS.B,

31.97%,

12/10/26

.

33,037

32,741

FW2220480.UP.FTS.B,

32.04%,

12/10/26

.

5,398

3,245

FW2219137.UP.FTS.B,

32.32%,

12/10/26

.

6,829

6,762

FW2220958.UP.FTS.B,

32.58%,

12/10/26

.

7,109

7,046

L1612765.UP.FTS.B,

17.19%,

1/23/27

....

13,829

13,656

FW1613225.UP.FTS.B,

28.66%,

1/23/27

..

48,019

7,391

FW1612668.UP.FTS.B,

29.21%,

1/23/27

..

9,324

9,264

FW1612976.UP.FTS.B,

31.2%,

1/23/27

...

18,734

5,579

L1599969.UP.FTS.B,

14.68%,

1/24/27

....

6,523

6,473

L1617302.UP.FTS.B,

20.41%,

1/24/27

....

6,858

6,812

L1616828.UP.FTS.B,

23.14%,

1/24/27

....

6,548

6,515

L1616362.UP.FTS.B,

23.47%,

1/24/27

....

5,524

5,498

L1613119.UP.FTS.B,

24.86%,

1/24/27

....

11,394

11,290

FW1614982.UP.FTS.B,

25.4%,

1/24/27

...

8,399

8,355

L1617677.UP.FTS.B,

25.4%,

1/24/27

....

2,318

164

FW1613124.UP.FTS.B,

26.6%,

1/24/27

...

14,171

14,081

FW1605600.UP.FTS.B,

29.46%,

1/24/27

..

6,852

6,826

L1620110.UP.FTS.B,

16.48%,

1/25/27

....

14,362

14,203

L1618519.UP.FTS.B,

22.51%,

1/25/27

....

27,967

27,831

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

380

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L1618555.UP.FTS.B,

25.87%,

1/25/27

....

$

9,613

$

9,568

L1704821.UP.FTS.B,

15.71%,

2/13/27

....

4,484

4,213

FW1706011.UP.FTS.B,

20.18%,

2/13/27

..

6,268

5,935

L1705353.UP.FTS.B,

25.94%,

2/13/27

....

3,089

3,059

L1706613.UP.FTS.B,

27.15%,

2/13/27

....

6,353

6,296

FW1705189.UP.FTS.B,

30.48%,

2/13/27

..

8,318

(363)

L1877458.UP.FTS.B,

20.58%,

3/19/27

....

6,498

6,158

FW1880786.UP.FTS.B,

24.67%,

3/19/27

..

5,163

5,121

L1878619.UP.FTS.B,

25.7%,

3/19/27

....

11,598

11,513

FW1878284.UP.FTS.B,

25.91%,

3/19/27

..

14,207

13,484

FW1876421.UP.FTS.B,

26.08%,

3/19/27

..

5,207

5,169

FW1878650.UP.FTS.B,

27.3%,

3/19/27

...

4,823

4,784

FW1880356.UP.FTS.B,

28.86%,

3/19/27

..

2,283

2,265

FW1878756.UP.FTS.B,

30.15%,

3/19/27

..

14,436

4,246

FW1879069.UP.FTS.B,

31.2%,

3/19/27

...

9,113

9,037

FW1880191.UP.FTS.B,

31.2%,

3/19/27

...

2,308

2,234

FW1880615.UP.FTS.B,

31.56%,

3/19/27

..

5,773

5,721

FW1877469.UP.FTS.B,

31.71%,

3/19/27

..

5,764

5,733

FW1874930.UP.FTS.B,

31.86%,

3/19/27

..

6,513

6,184

FW1995179.UP.FTS.B,

16.42%,

4/08/27

..

1,397

1,379

L1993514.UP.FTS.B,

16.68%,

4/08/27

....

2,913

2,877

L1990660.UP.FTS.B,

20.07%,

4/08/27

....

9,336

9,186

FW1995784.UP.FTS.B,

21.66%,

4/08/27

..

14,883

14,723

FW1995724.UP.FTS.B,

22.43%,

4/08/27

..

11,535

6,603

L1999670.UP.FTS.B,

24.18%,

4/08/27

....

2,363

2,336

FW1995970.UP.FTS.B,

26.64%,

4/08/27

..

2,152

2,127

FW1993453.UP.FTS.B,

28.76%,

4/08/27

..

11,423

11,293

FW1993671.UP.FTS.B,

30.7%,

4/08/27

...

1,046

1,034

FW1995947.UP.FTS.B,

31.02%,

4/08/27

..

3,522

3,482

L2072625.UP.FTS.B,

18.48%,

4/18/27

....

20,344

19,163

L2074593.UP.FTS.B,

18.9%,

4/18/27

....

1,429

1,411

L2074730.UP.FTS.B,

20.02%,

4/18/27

....

4,249

4,198

L2074432.UP.FTS.B,

21.97%,

4/18/27

....

2,372

2,355

FW2071024.UP.FTS.B,

22.22%,

4/18/27

..

18,621

18,490

FW2073884.UP.FTS.B,

24.56%,

4/18/27

..

2,191

2,174

FW2074811.UP.FTS.B,

25.21%,

4/18/27

..

5,285

5,021

L2072180.UP.FTS.B,

25.94%,

4/18/27

....

17,621

17,512

FW2075168.UP.FTS.B,

30.19%,

4/18/27

..

4,138

4,108

L2218540.UP.FTS.B,

15.26%,

5/09/27

....

5,717

5,676

L1410942.UP.FTS.B,

18.88%,

5/09/27

....

8,600

8,511

L2218508.UP.FTS.B,

20.09%,

5/09/27

....

5,108

5,060

L2217932.UP.FTS.B,

21.91%,

5/09/27

....

12,236

12,051

L2216364.UP.FTS.B,

26.06%,

5/09/27

....

6,822

1,959

FW2215801.UP.FTS.B,

28.45%,

5/09/27

..

7,160

7,090

FW2215497.UP.FTS.B,

28.74%,

5/09/27

..

21,157

20,958

FW2214667.UP.FTS.B,

30.92%,

5/09/27

..

4,865

4,814

FW2217014.UP.FTS.B,

31.19%,

5/09/27

..

2,982

1,787

L2221609.UP.FTS.B,

22.8%,

5/10/27

....

7,777

7,705

L2199916.UP.FTS.B,

24.99%,

5/10/27

....

2,527

2,503

FW2222378.UP.FTS.B,

26.49%,

5/10/27

..

5,871

5,820

FW2216510.UP.FTS.B,

30.91%,

5/10/27

..

6,236

1,812

FW2218934.UP.FTS.B,

31.41%,

5/10/27

..

7,330

7,263

L1617729.UP.FTS.B,

24.84%,

6/24/27

....

2,378

2,373

FW1616657.UP.FTS.B,

30.74%,

6/24/27

..

1,936

(76)

FW1620587.UP.FTS.B,

20.68%,

6/25/27

..

45,069

44,523

FW1705037.UP.FTS.B,

26.99%,

7/13/27

..

1,673

1,655

FW1880689.UP.FTS.B,

25.33%,

8/19/27

..

10,450

9,921

FW1876930.UP.FTS.B,

28.99%,

8/19/27

..

11,502

11,417

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW1989679.UP.FTS.B,

31.11%,

9/08/27

..

$

10,343

$

10,225

FW2218106.UP.FTS.B,

26.79%,

10/09/27

.

6,047

6,182

FW2217284.UP.FTS.B,

26.82%,

10/09/27

.

4,347

4,448

FW2220547.UP.FTS.B,

20.94%,

10/10/27

.

1,425

1,453

L1700175.UP.FTS.B,

15.87%,

9/13/28

....

13,947

13,882

L1702113.UP.FTS.B,

24.96%,

9/13/28

....

3,497

248

L1703901.UP.FTS.B,

26.94%,

9/13/28

....

9,098

9,031

L2074618.UP.FTS.B,

27.13%,

11/18/28

...

3,400

3,375

L2219895.UP.FTS.B,

26.7%,

12/10/28

....

3,710

3,680

15,286,675

Total

Marketplace

Loans

(Cost

$114,268,725)

...

$106,418,130

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited),

July

31,

2022

Franklin

Total

Return

Fund

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

381

At

July

31,

2022,

the

Fund

had

the

following futures

contracts

outstanding.

At

July

31,

2022,

the

Fund

had

the

following

forward

exchange

contracts

outstanding.

Futures

Contracts

Description

Type

Number

of

Contracts

Notional

Amount

*

Expiration

Date

Value/

Unrealized

Appreciation

(Depreciation)

Interest

rate

contracts

30-day

Federal

Funds

.........................

Short

930

$

375,556,292

6/30/23

$

175,198

U.S.

Treasury

10

Year

Notes

....................

Long

200

24,228,125

9/21/22

496,601

U.S.

Treasury

10

Year

Ultra

Notes

................

Long

65

8,531,250

9/21/22

252,802

U.S.

Treasury

2

Year

Notes

.....................

Long

470

98,916,641

9/30/22

(485,536)

U.S.

Treasury

5

Year

Notes

.....................

Long

2,506

284,998,767

9/30/22

915,912

U.S.

Treasury

Long

Bonds

.....................

Long

260

37,440,000

9/21/22

1,353,818

U.S.

Treasury

Ultra

Bonds

......................

Long

975

154,354,688

9/21/22

547,004

Total

Futures

Contracts

......................................................................

$3,255,799

*

As

of

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

Euro

.............

JPHQ

Sell

63,070,336

69,568,157

9/16/22

$

4,894,419

$

—

Euro

.............

JPHQ

Sell

68,932,425

74,875,283

12/06/22

3,734,197

—

Total

Forward

Exchange

Contracts

...................................................

$8,628,616

—

Net

unrealized

appreciation

(depreciation)

............................................

$8,628,616

*

In

U.S.

dollars

unless

otherwise

indicated.

a

May

be

comprised

of

multiple

contracts

with

the

same

counterparty,

currency

and

settlement

date.

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

382

At

July

31,

2022,

the

Fund

had

the

following credit

default

swap

contracts outstanding.

Credit

Default

Swap

Contracts

Description

Periodic

Payment

Rate

Received

(Paid)

Payment

Frequency

Counter-

party

Maturity

Date

Notional

Amount

(a)

Value

Unamortized

Upfront

Payments

(Receipts)

Unrealized

Appreciation

(Depreciation)

Rating

(b)

Centrally

Cleared

Swap

Contracts

Contracts

to

Buy

Protection

(c)

Traded

Index

CDX.NA.EM.37

.

(1.00)%

Quarterly

6/20/27

38,875,000

$

3,620,365

$

3,605,616

$

14,749

CDX.NA.HY.38

.

(5.00)%

Quarterly

6/20/27

80,600,000

(1,349,895)

624,749

(1,974,644)

Total

Centrally

Cleared

Swap

Contracts

.....................................

$2,270,470

$4,230,365

$(1,959,895)

OTC

Swap

Contracts

Contracts

to

Buy

Protection

(c)

Single

Name

Avon

Products,

Inc.

.......

(5.00)%

Quarterly

CITI

3/20/23

8,800,000

(281,670)

(162,146)

(119,524)

Contracts

to

Sell

Protection

(c)(d)

Single

Name

Air

France-KLM

.

5.00%

Quarterly

BOFA

6/20/26

1,170,000

EUR

(88,743)

18,579

(107,322)

NR

Air

France-KLM

.

5.00%

Quarterly

JPHQ

6/20/26

2,780,000

EUR

(210,861)

38,555

(249,416)

NR

Carnival

Corp.

..

1.00%

Quarterly

CITI

6/20/27

12,580,000

(3,829,656)

(2,227,857)

(1,601,799)

B-

Nabors

Industries,

Inc.

.......

1.00%

Quarterly

CITI

12/20/23

10,225,000

(505,310)

(424,324)

(80,986)

CCC

Traded

Index

(e)

BNP

Paribas

Bespoke

Haverhill

Index,

Mezzanine

Tranche

5-10%

4.10%

Quarterly

BNDP

12/20/23

4,250,000

EUR

(305,377)

—

(305,377)

Non-

Investment

Grade

CDX.NA.HY.31

.

5.00%

Quarterly

CITI

12/20/23

40,000,000

357,037

(1,553,767)

1,910,804

(e)

Citibank

Bespoke

Kenai

Index,

Equity

Tranche

0-5%

—%

Quarterly

CITI

12/20/23

28,800,000

(14,846,997)

(6,128,265)

(8,718,732)

Non-

Investment

Grade

(e)

Citibank

Bespoke

Kona

Index,

Equity

Tranche

0-5%

—%

Quarterly

CITI

12/20/22

12,600,000

(1,914,316)

(672,778)

(1,241,538)

Non-

Investment

Grade

(e)

Citibank

Bespoke

Kona

Index,

Mezzanine

Tranche

5-10%

2.42%

Quarterly

CITI

12/20/22

10,500,000

(42,311)

—

(42,311)

Non-

Investment

Grade

(e)

Citibank

Bespoke

Palm

Beach

Index,

Mezzanine

Tranche

5-10%

1.97%

Quarterly

CITI

12/20/22

14,000,000

(31,758)

—

(31,758)

Non-

Investment

Grade

(e)

Citibank

Bespoke

Rotorua

Index,

Mezzanine

Tranche

5-10%

3.60%

Quarterly

CITI

12/20/23

8,300,000

(634,563)

—

(634,563)

Non-

Investment

Grade

Franklin

Investors

Securities

Trust

Schedule

of

Investments

(unaudited)

Franklin

Total

Return

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

383

At

July

31,

2022,

the

Fund

had

the

following interest

rate swap

contracts

outstanding.

See

A

bbreviations

on

page

399

.

Credit

Default

Swap

Contracts

(continued)

Description

Periodic

Payment

Rate

Received

(Paid)

Payment

Frequency

Counter-

party

Maturity

Date

Notional

Amount

(a)

Value

Unamortized

Upfront

Payments

(Receipts)

Unrealized

Appreciation

(Depreciation)

Rating

(b)

OTC

Swap

Contracts

(continued)

Contracts

to

Sell

Protection

(c)(d)

(continued)

Traded

Index

(continued)

MCDX.

NA.MAIN.31

.

1.00%

Quarterly

CITI

12/20/23

2,325,000

$

17,698

$

6,526

$

11,172

Investment

Grade

Total

OTC

Swap

Contracts

..............................................

$(22,316,827)

$(11,105,477)

$(11,211,350)

Total

Credit

Default

Swap

Contracts

....................................

$(20,046,357)

$

(6,875,112)

$(13,171,245)

(a)

In

U.S.

dollars

unless

otherwise

indicated.

For

contracts

to

sell

protection,

the

notional

amount

is

equal

to

the

maximum

potential

amount

of

the

future

payments

and

no

recourse

provisions

have

been

entered

into

in

association

with

the

contracts.

(b)

Based

on

Standard

and

Poor's

(S&P)

Rating

for

single

name

swaps

and

internal

ratings

for

index

swaps.

Internal

ratings

based

on

mapping

into

equivalent

ratings

from

external

vendors.

(c)

Performance

triggers

for

settlement

of

contract

include

default,

bankruptcy

or

restructuring

for

single

name

swaps,

and

failure

to

pay

or

bankruptcy

of

the

underlying

securities

for

traded

index

swaps.

(d)

The

fund

enters

contracts

to

sell

protection

to

create

a

long

credit

position.

(e)

Represents

a

custom

index

comprised

of

a

basket

of

underlying

instruments.

Interest

Rate

Swap

Contracts

Description

Payment

Frequency

Counter-

party

Maturity

Date

Notional

Amount

*

Value

Unamortized

Upfront

Payments

(Receipts)

Unrealized

Appreciation

(Depreciation)

aa

aa

aa

aa

Centrally

Cleared

Swap

Contracts

Receive

Floating

1-day

SOFR

............

Annual

Pay

Fixed

1.924%

...

Annual

8/12/27

34,300,000

$

842,063

$

2,825

$

839,238

Total

Interest

Rate

Swap

Contracts

...............................

$842,063

$

2,825

$839,238

*

In

U.S.

dollars

unless

otherwise

indicated.

Franklin

Investors

Securities

Trust

Notes

to

Schedules

of

Investments

(unaudited)

384

Quarterly

Schedules

of

Investments

1.

Organization

Franklin

Investors

Securities

Trust (Trust)

is

registered

under

the

Investment

Company

Act

of

1940

(1940

Act)

as

an

open-end

management

investment

company,

consisting

of seven

separate

funds,

and

applies

the

specialized

accounting

and

reporting

guidance

in

U.S.

Generally

Accepted

Accounting

Principles

(U.S.

GAAP). 

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

Funds’

administrator

has

responsibility

for

oversight

of

valuation,

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,

exchange

traded

funds,

and

derivative

financial

instruments

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.

Investments

in

repurchase

agreements

are

valued

at

cost,

which

approximates

fair

value.

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,

book

values,

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. 

Franklin

Investors

Securities

Trust

Notes

to

Schedules

of

Investments

(unaudited)

385

Quarterly

Schedules

of

Investments

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.

At

July

31,

2022,

certain

securities

may

have

been

fair

valued

using

these

procedures,

in

which

case

the

securities

were

categorized

as

Level

2

inputs

within

the

fair

value

hierarchy

(referred

to

as

"market

level

fair

value").

See

the

Fair

Value

Measurements

note

for

more

information.

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

July

31,

2022,

investments

in

restricted

securities,

excluding

securities

exempt

from

registration

under

the

Securities

Act

of

1933,

were

as

follows:

Shares

Issuer

Acquisition

Date

Cost

Value

Franklin

Low

Duration

Total

Return

Fund

12,326,925

a

K2016470219

South

Africa

Ltd.,

A

...............

4/15/13

-

2/01/17

$

92,077

$

—

1,226,701

a

K2016470219

South

Africa

Ltd.,

B

...............

2/01/17

911

—

2,835

Riviera

Resources,

Inc.

.......................

8/08/18

42,242

—

Total

Restricted

Securities

(Value

is

—%

of

Net

Assets)

..............

$135,230

$—

Shares

Issuer

Acquisition

Date

Cost

Value

Franklin

Total

Return

Fund

28,762,824

a

K2016470219

South

Africa

Ltd.,

A

...............

4/15/13

-

2/01/17

$

221,469

$

—

2,862,311

a

K2016470219

South

Africa

Ltd.,

B

...............

2/01/17

2,125

—

12,605

Riviera

Resources,

Inc.

.......................

8/08/18

187,815

—

Total

Restricted

Securities

(Value

is

—%

of

Net

Assets)

..............

$411,409

$—

a

The

Fund

also

invests

in

unrestricted

securities

of

the

issuer,

valued

at

$

0

as

of

July

31,

2022

.

2. Financial

Instrument

Valuation

(continued)

Franklin

Investors

Securities

Trust

Notes

to

Schedules

of

Investments

(unaudited)

386

Quarterly

Schedules

of

Investments

4.

Unfunded

Loan

Commitments  

Certain

or

all

Funds

enter

into

certain

credit

agreements,

all

or

a

portion

of

which

may

be

unfunded.

The

Funds

are

obligated

to

fund

these

loan

commitments

at

the

borrowers’

discretion.

Unfunded

loan

commitments

and

funded

portions

of

credit

agreements

are

marked

to

market

daily.

Funded

portions

of

credit

agreements

are

presented

in

the

Statements

of

Investments.

At

July

31,

2022,

unfunded

commitments

were

as

follows:

5.

Holding

of

5%

Voting

Securities

of

Portfolio

Companies 

The

1940

Act

defines

"affiliated

companies"

to

include

investments

in

portfolio

companies

in

which

a

fund

owns

5%

or

more

of

the

outstanding

voting

securities.

Additionally,

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

companies’

outstanding

shares

or

has

the

power

to

exercise

control

over

management

or

policies

of

such

company.

During

the

period

ended

July

31,

2022,

investments

in

“affiliated

companies”

were

as

follows: 

Borrower

Unfunded

Commitment

Franklin

Floating

Rate

Daily

Access

Fund

athenahealth

Group,

Inc.

$

2,028,986

Aveanna

Healthcare,

LLC

1,216,612

Dermatology

Intermediate

Holdings

III,

Inc.

320,637

Medical

Solutions

Holdings,

Inc.

996,431

Osmosis

Buyer

Ltd.

404,040

Thrasio,

LLC

2,500,000

$

7,466,706

Value

at

Beginning

of

Period

Purchases

Sales

Realized

Gain

(Loss)

Net

Change

in

Unrealized

Appreciation

(Depreciation)

Value

at

End

of

Period

Number

of

Shares/Principal

Amount

Held

at

End

of

Period

Investment

Income

Franklin

Floating

Rate

Daily

Access

Fund

Non-Controlled

Affiliates

Dividends

Appvion

Operations,

Inc.

$

31,283,822

$

—

$

(37,326,232)

a

$

24,534,466

$

(18,492,056)

$

—

b

—

$

—

Quarternorth

Energy

Holding

Inc

.......

38,698,545

—

—

—

2,175,635

40,874,180

370,321

1,794,514

Quarternorth

Energy

Holding,

Inc.,

2/01/49

15,858,083

—

(4,406,820)

(420,651)

605,672

11,636,284

105,425

—

Interest

Quarternorth

Energy

Holding,

Inc.,

Second

Lien,

Initial

New

Term

Loan,

9%,

(3-month

USD

LIBOR

+

8%),

8/27/26

..........

13,818,047

—

—

—

(141,491)

13,676,556

13,723,697

946,257

Total

Affiliated

Securities

(Value

is

4.3%

of

Net

Assets)

..........

$99,658,497

$—

$(41,733,052)

$

24,113,815

$

(15,852,240)

$66,187,020

$2,740,771

a

May

include

accretion,

amortization,

partnership

adjustments,

and/or

corporate

actions.

b

As

of

July

31,

2022,

no

longer

held

by

the

fund.

Franklin

Investors

Securities

Trust

Notes

to

Schedules

of

Investments

(unaudited)

387

Quarterly

Schedules

of

Investments

6.

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

July

31,

2022,

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  

Franklin

Adjustable

U.S.

Government

Securities

Fund

Non-Controlled

Affiliates

Dividends

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

1.445%

$

14,899,131

$

103,566,113

$

(89,689,461)

$

—

$

—

$

28,775,783

28,775,783

$

53,527

Total

Affiliated

Securities

...

$14,899,131

$103,566,113

$(89,689,461)

$—

$—

$28,775,783

$53,527

Franklin

Convertible

Securities

Fund

Non-Controlled

Affiliates

Dividends

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

1.445%

$

207,020,838

$

739,524,975

$

(893,668,365)

$

—

$

—

$

52,877,448

52,877,448

$

139,165

Non-Controlled

Affiliates

Income

from

securities

loaned

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

1.445%

$5,838,000

$132,011,000

$(133,929,000)

$—

$—

$3,920,000

3,920,000

$9,054

Total

Affiliated

Securities

...

$212,858,838

$871,535,975

$(1,027,597,365)

$—

$—

$56,797,448

$148,219

Franklin

Equity

Income

Fund

Non-Controlled

Affiliates

Dividends

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

1.445%

$

73,775,321

$

534,619,373

$

(489,586,107)

$

—

$

—

$

118,808,587

118,808,587

$

191,230

Non-Controlled

Affiliates

Income

from

securities

loaned

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

1.445%

$7,746,000

$140,891,000

$(148,637,000)

$—

$—

$—

—

$17,843

Total

Affiliated

Securities

...

$81,521,321

$675,510,373

$(638,223,107)

$—

$—

$118,808,587

$209,073

Franklin

Investors

Securities

Trust

Notes

to

Schedules

of

Investments

(unaudited)

388

Quarterly

Schedules

of

Investments

    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  

Franklin

Floating

Rate

Daily

Access

Fund

Non-Controlled

Affiliates

Dividends

Franklin

Floating

Rate

Income

Fund

..................

$

37,735,428

$

—

$

—

$

—

$

(2,222,455)

$

35,512,973

4,630,114

$

1,357,148

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

1.445%

68,461,270

109,156,901

(119,282,565)

—

—

58,335,606

58,335,606

100,788

Total

Non-Controlled

Affiliates

$106,196,698

$109,156,901

$(119,282,565)

$

—

$

(2,222,455)

$93,848,579

$

1,457,936

Non-Controlled

Affiliates

Income

from

securities

loaned

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

1.445%

$—

$52,606,000

$(52,606,000)

$—

$—

$—

—

$3,876

Total

Affiliated

Securities

...

$106,196,698

$161,762,901

$(171,888,565)

$—

$(2,222,455)

$93,848,579

$1,461,812

Franklin

Low

Duration

Total

Return

Fund

Non-Controlled

Affiliates

Dividends

Franklin

Floating

Rate

Income

Fund

..................

$

120,909,895

$

27,700,000

$

—

$

—

$

(8,656,172)

$

139,953,723

18,246,900

$

4,866,796

Franklin

Liberty

High

Yield

Corporate

ETF

...........

6,801,288

—

(5,979,392)

(933,040)

111,144

—

—

199,647

a

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

1.445%

56,135,533

13,095,599

(14,918,992)

—

—

54,312,140

54,312,140

99,921

Total

Non-Controlled

Affiliates

$183,846,716

$40,795,599

$(20,898,384)

$

(933,040)

$

(8,545,028)

$194,265,863

$

5,166,364

Non-Controlled

Affiliates

Income

from

securities

loaned

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

1.445%

$—

$71,258,000

$(71,258,000)

$—

$—

$—

—

$1,745

Total

Affiliated

Securities

...

$183,846,716

$112,053,599

$(92,156,384)

$(933,040)

$(8,545,028)

$194,265,863

$5,168,109

Franklin

Managed

Income

Fund

Controlled

Affiliates

Dividends

Franklin

Liberty

Systematic

Style

Premia

ETF

.............

$

24,348,115

$

—

$

—

$

—

$

667,635

$

25,015,750

1,175,000

$

23,111

Franklin

Liberty

U.S.

Low

Volatility

ETF

.............

42,197,018

—

—

—

(1,713,292)

40,483,726

860,000

472,883

Total

Controlled

Affiliates

...

$66,545,133

$—

$—

$

—

$

(1,045,657)

$65,499,476

$

495,994

6.

Investments

in

Affiliated

Management

Investment

Companies 

(continued)

Franklin

Investors

Securities

Trust

Notes

to

Schedules

of

Investments

(unaudited)

389

Quarterly

Schedules

of

Investments

    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

Franklin

Managed

Income

Fund

(continued)

Non-Controlled

Affiliates

Dividends

Franklin

FTSE

Japan

ETF

....

$

21,021,000

$

—

$

—

$

—

$

(3,654,000)

$

17,367,000

700,000

$

396,689

Franklin

FTSE

United

Kingdom

ETF

...................

31,950,000

—

—

—

(3,050,000)

28,900,000

1,250,000

1,006,455

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

1.445%

117,838,554

1,060,967,981

(1,122,932,198)

—

—

55,874,337

55,874,337

102,685

Western

Asset

Diversified

Income

Fund

.............

—

3,884,937

—

—

(314,937)

3,570,000

250,000

89,250

Total

Non-Controlled

Affiliates

$170,809,554

$1,064,852,918

$(1,122,932,198)

$

—

$

(7,018,937)

$105,711,337

$

1,595,079

Non-Controlled

Affiliates

Income

from

securities

loaned

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

1.445%

$—

$224,484,000

$(221,658,000)

$—

$—

$2,826,000

2,826,000

$16,713

Total

Affiliated

Securities

...

$237,354,687

$1,289,336,918

$(1,344,590,198)

$—

$(8,064,594)

$174,036,813

$2,107,786

Franklin

Total

Return

Fund

Controlled

Affiliates

Dividends

Franklin

Floating

Rate

Income

Fund

..................

$

196,547,305

$

44,000,000

$

(32,385,500)

$

(3,035,281)

$

(10,730,735)

$

194,395,789

25,344,953

$

7,758,586

Franklin

Liberty

Investment

Grade

Corporate

ETF

.......

475,884,925

—

(50,100,039)

(4,661,523)

(61,379,363)

359,744,000

16,060,000

9,819,855

a

Total

Controlled

Affiliates

...

$672,432,230

$44,000,000

$(82,485,539)

$

(7,696,804)

$

(72,110,098)

$554,139,789

$

17,578,441

Non-Controlled

Affiliates

Dividends

Franklin

Liberty

High

Yield

Corporate

ETF

...........

$

123,183,240

$

—

$

(111,983,564)

$

(10,001,686)

$

(1,197,990)

$

—

—

$

3,026,687

a

Franklin

Liberty

Senior

Loan

ETF

43,391,565

—

—

—

(2,328,116)

41,063,449

1,737,400

1,085,197

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

1.445%

130,579,435

902,221,929

(900,996,733)

—

—

131,804,631

131,804,631

127,798

Total

Non-Controlled

Affiliates

$297,154,240

$902,221,929

$(1,012,980,297)

$

(10,001,686)

$

(3,526,106)

$172,868,080

$

4,239,682

Non-Controlled

Affiliates

Income

from

securities

loaned

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

1.445%

$5,174,000

$171,368,000

$(176,542,000)

$—

$—

$—

—

$588

Total

Affiliated

Securities

...

$974,760,470

$1,117,589,929

$(1,272,007,836)

$(17,698,490)

$(75,636,204)

$727,007,869

$21,818,711

6.

Investments

in

Affiliated

Management

Investment

Companies 

(continued)

Franklin

Investors

Securities

Trust

Notes

to

Schedules

of

Investments

(unaudited)

390

Quarterly

Schedules

of

Investments

7. 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

July

31,

2022,

in

valuing

the

Funds’

assets

and

liabilities carried

at

fair

value,

is

as

follows:  

a

Dividend

income

includes

any

capital

gain

distributions

received

from

underlying

funds.

Level

1

Level

2

Level

3

Total

Franklin

Adjustable

U.S.

Government

Securities

Fund

Assets:

Investments

in

Securities:

a

Commercial

Mortgage-Backed

Securities

......

$

—

$

116,403,373

$

—

$

116,403,373

Mortgage-Backed

Securities

................

—

445,494,240

—

445,494,240

Short

Term

Investments

...................

28,775,783

—

—

28,775,783

Total

Investments

in

Securities

...........

$28,775,783

$561,897,613

$—

$590,673,396

Franklin

Convertible

Securities

Fund

Assets:

Investments

in

Securities:

Common

Stocks

........................

46,080,207

—

—

46,080,207

Convertible

Preferred

Stocks

:

Auto

Components

......................

64,273,100

—

—

64,273,100

Capital

Markets

........................

67,200,000

—

—

67,200,000

Electric

Utilities

........................

166,397,900

—

—

166,397,900

Life

Sciences

Tools

&

Services

............

21,374,383

—

—

21,374,383

Machinery

............................

29,092,500

—

—

29,092,500

Multi-Utilities

..........................

94,251,000

—

—

94,251,000

Semiconductors

&

Semiconductor

Equipment

.

77,346,580

—

—

77,346,580

Wireless

Telecommunication

Services

.......

—

57,664,320

—

57,664,320

Convertible

Bonds

.......................

—

2,735,056,151

—

2,735,056,151

Short

Term

Investments

...................

56,797,448

1,004,998

—

57,802,446

Total

Investments

in

Securities

...........

$622,813,118

$2,793,725,469

$—

$3,416,538,587

Franklin

Equity

Income

Fund

Assets:

Investments

in

Securities:

Common

Stocks

:

Aerospace

&

Defense

...................

124,357,372

—

—

124,357,372

Air

Freight

&

Logistics

...................

97,737,335

—

—

97,737,335

Banks

...............................

217,704,970

—

—

217,704,970

Beverages

...........................

147,112,290

—

—

147,112,290

Capital

Markets

........................

237,638,020

—

—

237,638,020

Chemicals

...........................

52,349,400

24,734,908

—

77,084,308

6.

Investments

in

Affiliated

Management

Investment

Companies 

(continued)

Franklin

Investors

Securities

Trust

Notes

to

Schedules

of

Investments

(unaudited)

391

Quarterly

Schedules

of

Investments

Level

1

Level

2

Level

3

Total

Franklin

Equity

Income

Fund

(continued)

Assets:

(continued)

Investments

in

Securities:

Common

Stocks:

Commercial

Services

&

Supplies

...........

$

56,989,260

$

—

$

—

$

56,989,260

Communications

Equipment

..............

59,139,795

—

—

59,139,795

Consumer

Finance

.....................

15,093,960

—

—

15,093,960

Diversified

Financial

Services

.............

65,665,000

—

—

65,665,000

Diversified

Telecommunication

Services

.....

14,596,111

—

—

14,596,111

Electric

Utilities

........................

260,451,705

—

—

260,451,705

Electrical

Equipment

....................

76,707,425

—

—

76,707,425

Equity

Real

Estate

Investment

Trusts

(REITs)

.

78,755,880

—

—

78,755,880

Food

&

Staples

Retailing

.................

39,681,025

—

—

39,681,025

Food

Products

........................

32,180,100

—

—

32,180,100

Health

Care

Equipment

&

Supplies

.........

92,057,400

—

—

92,057,400

Health

Care

Providers

&

Services

..........

125,484,810

—

—

125,484,810

Hotels,

Restaurants

&

Leisure

.............

60,575,100

—

—

60,575,100

Household

Products

....................

98,626,100

—

—

98,626,100

Insurance

............................

20,404,860

—

—

20,404,860

Life

Sciences

Tools

&

Services

............

49,668,030

—

—

49,668,030

Machinery

............................

17,347,960

—

—

17,347,960

Media

...............................

20,073,200

—

—

20,073,200

Multiline

Retail

........................

81,690,000

—

—

81,690,000

Oil,

Gas

&

Consumable

Fuels

.............

295,381,960

—

—

295,381,960

Pharmaceuticals

.......................

198,209,050

—

—

198,209,050

Road

&

Rail

..........................

29,010,135

—

—

29,010,135

Semiconductors

&

Semiconductor

Equipment

.

61,754,730

—

—

61,754,730

Software

.............................

76,136,550

—

—

76,136,550

Specialty

Retail

........................

73,712,240

—

—

73,712,240

Water

Utilities

.........................

33,308,810

—

—

33,308,810

Equity-Linked

Securities

...................

—

328,830,799

—

328,830,799

Convertible

Preferred

Stocks

...............

270,133,075

—

—

270,133,075

Short

Term

Investments

...................

118,808,587

—

—

118,808,587

Total

Investments

in

Securities

...........

$3,298,542,245

$353,565,707

b

$—

$3,652,107,952

Franklin

Floating

Rate

Daily

Access

Fund

Assets:

Investments

in

Securities:

Common

Stocks

:

Hotels,

Restaurants

&

Leisure

.............

—

150,103

—

150,103

Machinery

............................

—

17,901,790

—

17,901,790

Oil,

Gas

&

Consumable

Fuels

.............

—

40,874,181

—

40,874,181

Road

&

Rail

..........................

—

—

—

c

—

Management

Investment

Companies

:

Capital

Markets

........................

5,880,323

35,512,973

—

41,393,296

Preferred

Stocks

........................

—

766,896

—

766,896

Warrants

:

Machinery

............................

—

—

7,635

7,635

Oil,

Gas

&

Consumable

Fuels

.............

—

11,636,284

—

11,636,284

Corporate

Bonds

:

Airlines

..............................

—

14,030,985

—

14,030,985

Capital

Markets

........................

—

1,478,304

—

1,478,304

Chemicals

...........................

—

5,026,147

—

5,026,147

Commercial

Services

&

Supplies

...........

—

2,085,537

—

2,085,537

Communications

Equipment

..............

—

1,760,510

—

1,760,510

Construction

Materials

..................

—

3,495,986

—

3,495,986

Containers

&

Packaging

.................

—

6,576,363

—

6,576,363

7. Fair

Value

Measurements 

(continued)

Franklin

Investors

Securities

Trust

Notes

to

Schedules

of

Investments

(unaudited)

392

Quarterly

Schedules

of

Investments

Level

1

Level

2

Level

3

Total

Franklin

Floating

Rate

Daily

Access

Fund

(continued)

Assets:

(continued)

Investments

in

Securities:

Corporate

Bonds:

Diversified

Consumer

Services

............

$

—

$

2,563,628

$

—

$

2,563,628

Diversified

Financial

Services

.............

—

1,243,795

—

1,243,795

Diversified

Telecommunication

Services

.....

—

4,927,003

—

4,927,003

Energy

Equipment

&

Services

.............

—

680,892

—

680,892

Hotels,

Restaurants

&

Leisure

.............

—

2,224,307

—

2,224,307

Independent

Power

and

Renewable

Electricity

Producers

..........................

—

3,400,250

—

3,400,250

Insurance

............................

—

1,302,338

—

1,302,338

Media

...............................

—

6,700,642

—

6,700,642

Oil,

Gas

&

Consumable

Fuels

.............

—

2,339,880

—

2,339,880

Road

&

Rail

..........................

—

442,287

18,992,610

19,434,897

Specialty

Retail

........................

—

1,693,613

—

1,693,613

Wireless

Telecommunication

Services

.......

—

1,255,676

—

1,255,676

Senior

Floating

Rate

Interests

...............

—

1,262,333,188

4,793,963

1,267,127,151

Asset-Backed

Securities

..................

—

8,962,140

—

8,962,140

Escrows

and

Litigation

Trusts

...............

—

—

—

c

—

Short

Term

Investments

...................

58,335,606

—

—

58,335,606

Total

Investments

in

Securities

...........

$64,215,929

$1,441,365,698

$23,794,208

$1,529,375,835

Liabilities:

Other

Financial

Instruments:

Unfunded

Loan

Commitments

...............

$

—

$

485,906

$

—

$

485,906

Total

Other

Financial

Instruments

.........

$—

$485,906

$—

$485,906

Franklin

Low

Duration

Total

Return

Fund

Assets:

Investments

in

Securities:

Common

Stocks

........................

—

—

—

c

—

Management

Investment

Companies

:

Capital

Markets

........................

11,905,600

139,953,723

—

151,859,323

Warrants

..............................

—

—

2

c

2

Corporate

Bonds

:

Aerospace

&

Defense

...................

—

15,210,664

—

15,210,664

Air

Freight

&

Logistics

...................

—

1,592,642

—

1,592,642

Airlines

..............................

—

10,366,767

—

10,366,767

Banks

...............................

—

161,484,234

—

161,484,234

Beverages

...........................

—

12,039,793

—

12,039,793

Biotechnology

.........................

—

1,901,057

—

1,901,057

Capital

Markets

........................

—

60,998,812

—

60,998,812

Chemicals

...........................

—

6,754,099

—

6,754,099

Communications

Equipment

..............

—

1,389,210

—

1,389,210

Consumer

Finance

.....................

—

3,682,777

—

3,682,777

Containers

&

Packaging

.................

—

663,812

—

663,812

Diversified

Consumer

Services

............

—

1,819,820

—

1,819,820

Diversified

Financial

Services

.............

—

6,880,027

—

6,880,027

Diversified

Telecommunication

Services

.....

—

17,123,698

—

17,123,698

Electric

Utilities

........................

—

31,208,800

—

31,208,800

Entertainment

.........................

—

19,848,446

—

19,848,446

Equity

Real

Estate

Investment

Trusts

(REITs)

.

—

9,490,011

—

9,490,011

Food

&

Staples

Retailing

.................

—

2,798,500

—

2,798,500

Food

Products

........................

—

3,293,000

—

3,293,000

Health

Care

Equipment

&

Supplies

.........

—

303,538

—

303,538

Health

Care

Providers

&

Services

..........

—

14,373,170

—

14,373,170

7. Fair

Value

Measurements 

(continued)

Franklin

Investors

Securities

Trust

Notes

to

Schedules

of

Investments

(unaudited)

393

Quarterly

Schedules

of

Investments

Level

1

Level

2

Level

3

Total

Franklin

Low

Duration

Total

Return

Fund

(continued)

Assets:

(continued)

Investments

in

Securities:

Corporate

Bonds:

Hotels,

Restaurants

&

Leisure

.............

$

—

$

12,893,968

$

—

$

12,893,968

Independent

Power

and

Renewable

Electricity

Producers

..........................

—

2,500,162

—

2,500,162

Insurance

............................

—

15,047,197

—

15,047,197

Interactive

Media

&

Services

..............

—

18,543,885

—

18,543,885

Internet

&

Direct

Marketing

Retail

..........

—

2,541,827

—

2,541,827

IT

Services

...........................

—

4,774,504

—

4,774,504

Life

Sciences

Tools

&

Services

............

—

865,630

—

865,630

Machinery

............................

—

5,819,217

—

5,819,217

Media

...............................

—

19,234,903

—

19,234,903

Metals

&

Mining

.......................

—

932,155

—

932,155

Multiline

Retail

........................

—

—

—

c

—

Multi-Utilities

..........................

—

1,252,044

—

1,252,044

Oil,

Gas

&

Consumable

Fuels

.............

—

49,805,325

—

49,805,325

Personal

Products

.....................

—

4,002,181

—

4,002,181

Pharmaceuticals

.......................

—

21,410,948

—

21,410,948

Real

Estate

Management

&

Development

....

—

2,168,259

—

2,168,259

Semiconductors

&

Semiconductor

Equipment

.

—

9,703,402

—

9,703,402

Specialty

Retail

........................

—

345,640

—

345,640

Thrifts

&

Mortgage

Finance

...............

—

6,686,561

—

6,686,561

Tobacco

.............................

—

8,350,015

—

8,350,015

Wireless

Telecommunication

Services

.......

—

3,260,369

—

3,260,369

Senior

Floating

Rate

Interests

...............

—

16,314,054

—

16,314,054

Marketplace

Loans

......................

—

—

75,607,191

75,607,191

Foreign

Government

and

Agency

Securities

....

—

82,688,879

—

82,688,879

U.S.

Government

and

Agency

Securities

.......

—

798,156,453

—

798,156,453

Asset-Backed

Securities

..................

—

434,759,691

—

434,759,691

Commercial

Mortgage-Backed

Securities

......

—

62,477,824

—

62,477,824

Mortgage-Backed

Securities

................

—

7,573,733

—

7,573,733

Municipal

Bonds

.........................

—

46,996,364

—

46,996,364

Residential

Mortgage-Backed

Securities

......

—

148,761,363

—

148,761,363

Escrows

and

Litigation

Trusts

...............

—

40,375

—

c

40,375

Options

purchased

.......................

—

8,689

—

8,689

Short

Term

Investments

...................

54,312,140

345,768,064

—

400,080,204

Total

Investments

in

Securities

...........

$66,217,740

$2,656,860,281

$75,607,193

$2,798,685,214

Other

Financial

Instruments:

Forward

exchange

contracts

...............

$

—

$

4,297,993

$

—

$

4,297,993

Swap

contracts

.........................

—

1,677,174

—

1,677,174

Total

Other

Financial

Instruments

.........

$—

$5,975,167

$—

$5,975,167

Liabilities:

Other

Financial

Instruments:

Forward

exchange

contracts

................

$

—

$

634,138

$

—

$

634,138

Futures

contracts

........................

4,850,950

—

—

4,850,950

Swap

contracts

..........................

—

6,361,392

—

6,361,392

Total

Other

Financial

Instruments

.........

$4,850,950

$6,995,530

$—

$11,846,480

Franklin

Managed

Income

Fund

Assets:

Investments

in

Securities:

Common

Stocks

:

Aerospace

&

Defense

...................

107,506,560

—

—

107,506,560

Air

Freight

&

Logistics

...................

34,105,750

—

—

34,105,750

7. Fair

Value

Measurements 

(continued)

Franklin

Investors

Securities

Trust

Notes

to

Schedules

of

Investments

(unaudited)

394

Quarterly

Schedules

of

Investments

Level

1

Level

2

Level

3

Total

Franklin

Managed

Income

Fund

(continued)

Assets:

(continued)

Investments

in

Securities:

Common

Stocks:

Banks

...............................

$

174,996,000

$

—

$

—

$

174,996,000

Beverages

...........................

75,825,000

—

—

75,825,000

Biotechnology

.........................

9,328,150

—

—

9,328,150

Capital

Markets

........................

37,935,000

—

—

37,935,000

Chemicals

...........................

22,650,000

33,425,551

—

56,075,551

Diversified

Telecommunication

Services

.....

55,070,212

22,799,904

—

77,870,116

Electric

Utilities

........................

66,971,600

—

—

66,971,600

Health

Care

Equipment

&

Supplies

.........

18,504,000

—

—

18,504,000

Health

Care

Providers

&

Services

..........

40,971,000

—

—

40,971,000

Household

Products

....................

20,836,500

—

—

20,836,500

Industrial

Conglomerates

................

57,738,000

—

—

57,738,000

Insurance

............................

15,870,000

—

—

15,870,000

Metals

&

Mining

.......................

24,412,000

—

—

24,412,000

Multiline

Retail

........................

16,338,000

—

—

16,338,000

Multi-Utilities

..........................

87,775,000

—

—

87,775,000

Oil,

Gas

&

Consumable

Fuels

.............

142,590,000

—

—

142,590,000

Pharmaceuticals

.......................

153,376,000

—

—

153,376,000

Road

&

Rail

..........................

22,730,000

—

—

22,730,000

Semiconductors

&

Semiconductor

Equipment

.

92,550,709

—

—

92,550,709

Specialty

Retail

........................

45,141,000

—

—

45,141,000

Management

Investment

Companies

.........

118,253,976

—

—

118,253,976

Equity-Linked

Securities

...................

—

384,673,288

—

384,673,288

Convertible

Preferred

Stocks

...............

311,347,750

—

—

311,347,750

Corporate

Bonds

........................

—

1,353,992,194

—

1,353,992,194

U.S.

Government

and

Agency

Securities

.......

—

255,204,883

—

255,204,883

Asset-Backed

Securities

..................

—

17,349,511

—

17,349,511

Mortgage-Backed

Securities

................

—

1,203,841

—

1,203,841

Short

Term

Investments

...................

58,700,337

707,674

—

59,408,011

Total

Investments

in

Securities

...........

$1,811,522,544

$2,069,356,846

d

$—

$3,880,879,390

Franklin

Total

Return

Fund

Assets:

Investments

in

Securities:

Common

Stocks

:

Energy

Equipment

&

Services

.............

911,106

—

—

911,106

Multiline

Retail

........................

—

—

—

c

—

Oil,

Gas

&

Consumable

Fuels

.............

—

—

—

c

—

Management

Investment

Companies

:

Capital

Markets

........................

400,807,449

194,395,789

—

595,203,238

Preferred

Stocks

........................

2,541,690

—

—

2,541,690

Warrants

..............................

—

—

5

c

5

Corporate

Bonds

:

Aerospace

&

Defense

...................

—

17,500,272

—

17,500,272

Air

Freight

&

Logistics

...................

—

4,850,895

—

4,850,895

Airlines

..............................

—

24,043,214

—

24,043,214

Banks

...............................

—

82,964,442

—

82,964,442

Beverages

...........................

—

5,285,455

—

5,285,455

Biotechnology

.........................

—

3,204,629

—

3,204,629

Capital

Markets

........................

—

25,450,354

—

25,450,354

Chemicals

...........................

—

15,565,653

—

15,565,653

Communications

Equipment

..............

—

1,649,600

—

1,649,600

Consumer

Finance

.....................

—

12,063,284

—

12,063,284

Containers

&

Packaging

.................

—

6,156,951

—

6,156,951

7. Fair

Value

Measurements 

(continued)

Franklin

Investors

Securities

Trust

Notes

to

Schedules

of

Investments

(unaudited)

395

Quarterly

Schedules

of

Investments

Level

1

Level

2

Level

3

Total

Franklin

Total

Return

Fund

(continued)

Assets:

(continued)

Investments

in

Securities:

Corporate

Bonds:

Diversified

Financial

Services

.............

$

—

$

1,709,431

$

—

$

1,709,431

Electric

Utilities

........................

—

47,544,967

—

47,544,967

Electronic

Equipment,

Instruments

&

Components

........................

—

7,328,963

—

7,328,963

Equity

Real

Estate

Investment

Trusts

(REITs)

.

—

1,208,340

—

1,208,340

Food

Products

........................

—

13,234,379

—

13,234,379

Health

Care

Equipment

&

Supplies

.........

—

2,105,817

—

2,105,817

Health

Care

Providers

&

Services

..........

—

30,573,746

—

30,573,746

Hotels,

Restaurants

&

Leisure

.............

—

20,116,946

—

20,116,946

Household

Durables

....................

—

5,972,752

—

5,972,752

Independent

Power

and

Renewable

Electricity

Producers

..........................

—

8,992,082

—

8,992,082

Interactive

Media

&

Services

..............

—

8,496,972

—

8,496,972

IT

Services

...........................

—

8,019,719

—

8,019,719

Life

Sciences

Tools

&

Services

............

—

1,484,278

—

1,484,278

Media

...............................

—

25,693,301

—

25,693,301

Multiline

Retail

........................

—

9,316,287

—

c

9,316,287

Multi-Utilities

..........................

—

7,255,675

—

7,255,675

Oil,

Gas

&

Consumable

Fuels

.............

—

61,740,597

—

61,740,597

Paper

&

Forest

Products

.................

—

1,872,234

—

1,872,234

Personal

Products

.....................

—

1,583,400

—

1,583,400

Pharmaceuticals

.......................

—

11,602,994

—

11,602,994

Real

Estate

Management

&

Development

....

—

6,351,037

—

6,351,037

Road

&

Rail

..........................

—

4,850,919

—

4,850,919

Semiconductors

&

Semiconductor

Equipment

.

—

16,277,325

—

16,277,325

Technology

Hardware,

Storage

&

Peripherals

.

—

2,363,062

—

2,363,062

Thrifts

&

Mortgage

Finance

...............

—

1,960,740

—

1,960,740

Tobacco

.............................

—

19,191,217

—

19,191,217

Wireless

Telecommunication

Services

.......

—

27,925,804

—

27,925,804

Senior

Floating

Rate

Interests

...............

—

3,405,178

—

3,405,178

Marketplace

Loans

......................

—

—

106,418,130

106,418,130

Foreign

Government

and

Agency

Securities

....

—

133,361,044

—

133,361,044

U.S.

Government

and

Agency

Securities

.......

—

1,075,729,307

—

1,075,729,307

Asset-Backed

Securities

..................

—

572,261,743

—

572,261,743

Commercial

Mortgage-Backed

Securities

:

Diversified

Financial

Services

.............

—

47,140,560

—

47,140,560

Thrifts

&

Mortgage

Finance

...............

—

377,058

3,455

380,513

Mortgage-Backed

Securities

................

—

549,469,870

—

549,469,870

Municipal

Bonds

.........................

—

233,591,328

—

233,591,328

Residential

Mortgage-Backed

Securities

......

—

180,336,568

—

180,336,568

Escrows

and

Litigation

Trusts

...............

—

63,750

—

c

63,750

Options

purchased

.......................

—

2,116,580

—

2,116,580

Short

Term

Investments

...................

131,804,631

—

—

131,804,631

Total

Investments

in

Securities

...........

$536,064,876

$3,545,756,508

$106,421,590

$4,188,242,974

Other

Financial

Instruments:

Forward

exchange

contracts

...............

$

—

$

8,628,616

$

—

$

8,628,616

Futures

contracts

........................

3,741,335

—

—

3,741,335

Swap

contracts

.........................

—

2,775,963

—

2,775,963

Total

Other

Financial

Instruments

.........

$3,741,335

$11,404,579

$—

$15,145,914

Liabilities:

Other

Financial

Instruments:

Options

written

..........................

$—

$209,351

$—

$209,351

7. Fair

Value

Measurements 

(continued)

Franklin

Investors

Securities

Trust

Notes

to

Schedules

of

Investments

(unaudited)

396

Quarterly

Schedules

of

Investments

A

reconciliation

of

assets

in

which

Level

3

inputs

are

used

in

determining

fair

value

is

presented

when

there

are

significant

Level

3

financial

instruments

at

the

beginning

and/or

end

of

the

period.

The

reconciliation

for

the

nine

months

ended

July

31,

2022,

is

as

follows:

Level

1

Level

2

Level

3

Total

Franklin

Total

Return

Fund

(continued)

Liabilities:

Other

Financial

Instruments:

Futures

contracts

........................

$

485,536

$

—

$

—

$

485,536

Swap

contracts

..........................

—

15,107,97

0

—

15,107,97

0

Total

Other

Financial

Instruments

.........

$485,536

$15,317,321

$—

$15,802,857

a

For

detailed

categories,

see

the

accompanying

Schedule

of

Investments.

b

Includes

foreign

securities

valued

at

$24,734,908,

which

were

categorized

as

Level

2

as

a

result

of

the

application

of

market

level

fair

value

procedures.

See

the

Financial

Instrument

Valuation

note

for

more

information.

c

Includes

securities

determined

to

have

no

value

at

July

31,

2022.

d

Includes

foreign

securities

valued

at

$56,225,455,

which

were

categorized

as

Level

2

as

a

result

of

the

application

of

market

level

fair

value

procedures.

See

the

Financial

Instrument

Valuation

note

for

more

information.

Balance

at

Beginning

of

Period

Purchases

a

Sales

b

Transfer

Into

Level

3

Transfer

Out

of

Level

3

Net

Accretion

(Amortiza-

tion)

Net

Realized

Gain

(Loss)

Net

Unr

ealized

Appreciatio

n

(

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

Franklin

Floating

Rate

Daily

Access

Fund

Assets:

Investments

in

Securities:

Common

Stocks

:

Paper

&

Forest

Products

$

31,283,822

$

—

$

(37,326,232)

$

—

$

—

$

—

$

24,534,466

$

(18,492,056)

$

—

$

—

Road

&

Rail

.......

1,380,592

—

—

—

—

—

—

(1,380,592)

—

(1,380,592)

Warrants

:

Machinery

.........

1,351

—

—

—

—

—

—

6,284

7,635

6,284

Corporate

Bonds

:

Road

&

Rail

.......

21,606,300

—

—

—

—

1,567,939

—

(4,181,629)

18,992,610

(4,181,629)

Senior

Floating

Rate

Interests

:

Household

Products

..

5,172,303

—

—

—

—

—

—

(378,340)

4,793,963

(378,340)

Escrows

and

Litigation

Trusts

...........

—

c

—

(11,398)

—

—

—

11,398

—

—

c

—

Total

Investments

in

Securities

............

$59,444,368

$—

$(37,337,630)

$—

$—

$1,567,939

$24,545,864

$(24,426,333)

$23,794,208

$(5,934,277)

Franklin

Low

Duration

Total

Return

Fund

Assets:

Investments

in

Securities:

Common

Stocks

:

Multiline

Retail

......

—

c

—

—

—

—

—

—

—

—

c

—

Oil,

Gas

&

Consumable

Fuels

..........

733

—

—

—

—

—

—

(733)

—

c

(733)

Warrants

:

Oil,

Gas

&

Consumable

Fuels

..........

—

c

—

—

—

—

—

—

2

2

c

2

Corporate

Bonds

:

Multiline

Retail

......

—

c

—

c

—

—

—

—

—

—

—

c

—

7. Fair

Value

Measurements 

(continued)

Franklin

Investors

Securities

Trust

Notes

to

Schedules

of

Investments

(unaudited)

397

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

July

31,

2022,

are

as

follows:

Balance

at

Beginning

of

Period

Purchases

a

Sales

b

Transfer

Into

Level

3

Transfer

Out

of

Level

3

Net

Accretion

(Amortiza-

tion)

Net

Realized

Gain

(Loss)

Net

Unrealized

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

Franklin

Low

Duration

Total

Return

Fund

(continued)

Assets:

Investments

in

Securities:

Marketplace

Loans

:

Diversified

Financial

Services

........

$

37,897,592

$

141,004,954

$

(100,134,241)

$

—

$

—

$

—

$

(222,047)

$

(2,939,067)

$

75,607,191

$

(3,348,302)

Escrows

and

Litigation

Trusts

...........

—

c

—

—

—

—

—

—

—

—

c

—

Total

Investments

in

Securities

............

$37,898,325

$141,004,954

$(100,134,241)

$—

$—

$—

$(222,047)

$(2,939,798)

$75,607,193

$(3,349,033)

Franklin

Total

Return

Fund

Assets:

Investments

in

Securities:

Common

Stocks

:

Multiline

Retail

......

—

c

—

—

—

—

—

—

—

—

c

—

Oil,

Gas

&

Consumable

Fuels

..........

3,256

—

—

—

—

—

—

(3,256)

—

c

(3,256)

Warrants

:

Oil,

Gas

&

Consumable

Fuels

..........

1

c

—

—

—

—

—

—

4

5

c

4

Corporate

Bonds

:

Multiline

Retail

......

—

c

—

c

—

—

—

—

—

—

—

c

—

Marketplace

Loans

:

Diversified

Financial

Services

........

57,211,330

181,640,338

(123,707,763)

—

—

—

(1,804,661)

(6,921,114)

106,418,130

(6,607,916)

Commercial

Mortgage-

Backed

Securities

:

Thrifts

&

Mortgage

Finance

........

5,379

—

(1,924)

—

—

—

87

(87)

3,455

—

Escrows

and

Litigation

Trusts

...........

—

c

—

—

—

—

—

—

—

—

c

—

Total

Investments

in

Securities

............

$57,219,966

$181,640,338

$(123,709,687)

$—

$—

$—

$(1,804,574)

$(6,924,453)

$106,421,590

$(6,611,168)

a

Purchases

include

all

purchases

of

securities

and

securities

received

in

corporate

actions.

b

Sales

include

all

sales

of

securities,

maturities,

paydowns

and

securities

tendered

in

corporate

actions.

c

Includes

securities

determined

to

have

no

value.

7. Fair

Value

Measurements 

(continued)

Franklin

Investors

Securities

Trust

Notes

to

Schedules

of

Investments

(unaudited)

398

Quarterly

Schedules

of

Investments

Description

Fair

Value

at

End

of

Period

Valuation

Technique

Unobservable

Inputs

Amount

/

Range

(Weighted

Average)

a

Impact

to

Fair

Value

if

Input

Increases

b

Franklin

Floating

Rate

Daily

Access

Fund

Assets:

Investments

in

Securities:

Corporate

Bonds:

Road

&

Rail

.............

$18,992,610

Discounted

cash

flow

Discount

rate

15.9%

Decrease

Free

cash

flow

$19.0

mil

Increase

Senior

Floating

Rate

Interests:

Household

Products

........

4,793,963

Recovery

value

Asset

value

estimate

$10.8

mil

Increase

c

All

other

Investments

..........

7,635

d,e

Total

.......................

$23,794,208

Franklin

Low

Duration

Total

Return

Fund

Assets:

Investments

in

Securities:

Marketplace

Loans:

Diversified

Financial

Services

$72,016,575

Discounted

cash

flow

Loss-adjusted

discount

rate

2.0%

-

10.7%

(8.4%)

Decrease

c

Projected

loss

rate

8.5%

-

20.7%

(15.3%)

Decrease

c

All

other

investments

..........

3,590,618

d,e

Total

.......................

$75,607,193

Franklin

Total

Return

Fund

Assets:

Investments

in

Securities:

Marketplace

Loans:

Diversified

Financial

Services

$104,868,261

Discounted

cash

flow

Loss-adjusted

discount

rate

2.9%

-

12.8%

(9.2%)

Decrease

c

Projected

loss

rate

5.0%

-

27.9%

(15.0%)

Decrease

c

All

other

investments

..........

1,553,329

d,e

Total

.......................

$106,421,590

a

Weighted

based

on

the

relative

fair

value

of

the

financial

instruments.

b

Represents

the

directional

change

in

the

fair

value

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

impacts,

if

any,

to

fair

value

and/or

net

assets

have

been

indicated.

c

Represents

a

significant

impact

to

fair

value

and

net

assets.

d

Includes

fair

value

of

immaterial

assets

and/or

liabilities

developed

using

various

valuation

techniques

and

unobservable

inputs.

May

also

include

values

derived

using

private

transaction

prices

or

non-public

third

party

pricing

information

which

is

unobservable.

e

Includes

securities

determined

to

have

no

value

at

July

31,

2022.

7. Fair

Value

Measurements 

(continued)

Franklin

Investors

Securities

Trust

Notes

to

Schedules

of

Investments

(unaudited)

399

Quarterly

Schedules

of

Investments

Abbreviations

Counterparty

BNDP

BNP

Paribas

SA

BOFA

Bank

of

America

NA

CITI

Citibank

NA

DBAB

Deutsche

Bank

AG

GSCO

Goldman

Sachs

Group,

Inc.

JPHQ

JPMorgan

Chase

Bank

NA

Currency

BRL

Brazilian

Real

DOP

Dominican

Peso

EUR

Euro

NOK

Norwegian

Krone

USD

United

States

Dollar

Index

CDX.NA.EM.

Series

number

CDX

North

America

High

Yield

Index

MCDX.NA.

Series

number

MCDX

North

America

Index

Selected

Portfolio

ADR

American

Depositary

Receipt

AGMC

Assured

Guaranty

Municipal

Corp.

BZDIOVRA

Brazil

Inter-Bank

Deposit

Rate

CME

Chicago

Mercantile

Exchange

CMT

Constant

Monthly

U.S.

Treasury

Securities

Yield

Curve

Rate

Index

COFI

Cost

of

Funds

Index

ETF

Exchange-Traded

Fund

EURIBOR

Euro

Inter-Bank

Offer

Rate

FHLMC

Federal

Home

Loan

Mortgage

Corp.

FNMA

Federal

National

Mortgage

Association

FRN

Floating

Rate

Note

GNMA

Government

National

Mortgage

Association

GO

General

Obligation

H15BDI

U.S.

Treasury

Bill

Auction

High

Discount

Rate

LIBOR

London

Inter-Bank

Offered

Rate

MBS

Mortgage-Backed

Security

PIK

Payment-In-Kind

REIT

Real

Estate

Investment

Trust

SOFR

Secured

Overnight

Financing

Rate

TBA

To-Be-Announced

TBD

To

Be

Determined

T-Note

Treasury

Note

For

additional

information

on

the

Funds'

significant

accounting

policies,

please

refer

to

the Funds'

most

recent

semiannual

or

annual

shareholder

report.