NPORT-P false 0000825063 XXXXXXXX S000025452 C000076164 C000128733 C000076161 C000076163 C000076162 Franklin Mutual Series Funds 811-05387 0000825063 549300DW3N5FG4OTT022 101 John F. Kennedy Parkway Short Hills 07078-2791 973-912-2000 Franklin Mutual International Fund S000025452 1GDKLNJ7SGTX4GBZM540 2019-12-31 2019-12-31 N 162263663.13 62112869 100150794.13 0 0 0 0 0 0 0 0 0 0 0 0 0 44827.45 N N/A N/A 000000000 1.00000000 NC USD 2581909.60000000 2.578022094012 N/A DFE N/A N N/A UBS AG BFM8T61CT2L1QCEMIK50 2581909.60000000 USD 3057755543.00000000 KRW 2020-01-17 -64125.52 N N N N/A N/A 000000000 1.00000000 NC USD 426561.20000000 0.425918939241 N/A DFE N/A N N/A HSBC BANK PLC MP6I5ZYZBEU3UXPYFY54 380000.00000000 EUR 421948.20000000 USD 2020-01-15 4613 N N N N/A N/A 000000000 1.00000000 NC USD 701395.16000000 0.700339089762 N/A DFE N/A N N/A UBS AG BFM8T61CT2L1QCEMIK50 701395.16000000 USD 1015896.35000000 AUD 2020-01-16 -11704.24 N N N N/A N/A 000000000 1.00000000 NC USD 113739.01000000 0.113567756489 N/A DFE N/A N N/A STATE STREET CORP 549300ZFEEJ2IP5VME73 12349401.00000000 JPY 113002.41000000 USD 2020-01-16 736.6 N N N T&D HOLDINGS INC ORD JPY1 3538008ARJ1MACEWA242 000000000 225033.00000000 NS 2888622.36000000 2.884273045554 Long EC CORP JP N 1 N N N N/A N/A 000000000 1.00000000 NC USD 229650.06000000 0.229304282601 N/A DFE N/A N N/A BANK OF AMERICA NA B4TYDEB6GKMZO031MB27 204582.65000000 EUR 225730.36000000 USD 2020-01-15 3919.7 N N N N/A N/A 000000000 1.00000000 NC USD 280632.37000000 0.280209830024 N/A DFE N/A N N/A BANK OF AMERICA NA B4TYDEB6GKMZO031MB27 250000.00000000 EUR 282095.75000000 USD 2020-01-15 -1463.38 N N N N/A N/A 000000000 1.00000000 NC USD 9056404.51000000 9.042768545843 N/A DFE N/A N N/A STATE STREET CORP 549300ZFEEJ2IP5VME73 9056404.51000000 USD 7929190.75000000 EUR 2020-01-15 155654.13 N N N LAFARGEHOLCIM LTD ORD CHF2 529900EHPFPYHV6IQO98 H4768E105 34929.00000000 NS 1938394.36000000 1.935475776142 Long EC CORP CH N 1 N N N N/A N/A 000000000 1.00000000 NC USD 178118.49000000 0.177850302184 N/A DFE N/A N N/A HSBC BANK PLC MP6I5ZYZBEU3UXPYFY54 158676.00000000 EUR 178219.81000000 USD 2020-01-15 -101.32 N N N ROYAL DUTCH SHELL PLC ORD GBP.07 B SHARES 21380068P1DRHMJ8KU70 000000000 79534.00000000 NS 2359062.54000000 2.355510568331 Long EC CORP GB N 1 N N N SAMSUNG ELECTRONICS CO LTD ORD KRW 100 9884007ER46L6N7EI764 Y74718100 74519.00000000 NS 3597055.51000000 3.591639528420 Long EC CORP KR N 1 N N N ING GROEP NV ORD EUR.01 549300NYKK9MWM7GGW15 N4578E595 252834.00000000 NS 3030482.91000000 3.025920000261 Long EC CORP NL N 1 N N N RENESAS ELECTRONICS CORP ORD JPY NPV 5299000EPC47VJQOFB81 000000000 459862.00000000 NS 3173650.79000000 3.168872316559 Long EC CORP JP N 1 N N N SARAS SPA ORD EUR NPV 5299005KJSU2AQUJUH84 T83058106 877091.00000000 NS 1410502.06000000 1.408378308183 Long EC CORP IT N 1 N N N Credito Valtellinese SpA ORD EUR NPV 549300BDV4C410CYAQ76 000000000 25464429.00000000 NS 2033264.39000000 2.030202963104 Long EC CORP IT N 1 N N N N/A N/A 000000000 1.00000000 NC USD 443452.27000000 0.442784576849 N/A DFE N/A N N/A UBS AG BFM8T61CT2L1QCEMIK50 512453000.00000000 KRW 430816.40000000 USD 2020-01-17 12635.87 N N N N/A N/A 000000000 1.00000000 NC USD 155986.38000000 0.155751515856 N/A DFE N/A N N/A HSBC BANK PLC MP6I5ZYZBEU3UXPYFY54 155986.38000000 USD 181505754.00000000 KRW 2020-01-17 -1080 N N N ACCOR SA ORD EUR3 969500QZC2Q0TK11NV07 F00189120 44182.00000000 NS 2068625.00000000 2.065510331665 Long EC CORP FR N 1 N N N N/A N/A 000000000 1.00000000 NC USD 1118863.39000000 1.117178750023 N/A DFE N/A N N/A HSBC BANK PLC MP6I5ZYZBEU3UXPYFY54 1118863.39000000 USD 884893.20000000 GBP 2020-01-16 -53690.56 N N N SUN HUNG KAI & CO LTD ORD HKD.2 N/A 000000000 1839748.00000000 NS 875924.32000000 0.874605466296 Long EC CORP HK N 1 N N N N/A N/A 000000000 1.00000000 NC USD 9056444.70000000 9.042808675330 N/A DFE N/A N N/A UBS AG BFM8T61CT2L1QCEMIK50 9056444.70000000 USD 7929191.23000000 EUR 2020-01-15 155693.78 N N N N/A N/A 000000000 1.00000000 NC USD 184094.83000000 0.183817643783 N/A DFE N/A N N/A BANK OF AMERICA NA B4TYDEB6GKMZO031MB27 164000.00000000 EUR 181531.44000000 USD 2020-01-15 2563.39 N N N N/A N/A 000000000 1.00000000 NC USD 312369.62000000 0.311899294172 N/A DFE N/A N N/A THE BANK OF NEW YORK MELLON HPFHU0OQ28E4N0NFVK49 15838389.00000000 PHP 311902.11000000 USD 2020-01-16 467.51 N N N N/A N/A 000000000 1.00000000 NC USD 15757779.12000000 15.73405309152 N/A DFE N/A N N/A HSBC BANK PLC MP6I5ZYZBEU3UXPYFY54 15757779.12000000 USD 11971358.23000000 GBP 2020-01-16 -105223.82 N N N N/A N/A 000000000 1.00000000 NC USD 29780.34000000 0.029735500610 N/A DFE N/A N N/A HSBC BANK PLC MP6I5ZYZBEU3UXPYFY54 26529.67000000 EUR 29834.42000000 USD 2020-01-15 -54.08 N N N KENEDIX INC ORD JPY NPV 3538007XCHRIVYCBI985 000000000 243134.00000000 NS 1272999.73000000 1.271083011431 Long EC CORP JP N 1 N N N N/A N/A 000000000 1.00000000 NC USD 1739920.70000000 1.737300952143 N/A DFE N/A N N/A STATE STREET CORP 549300ZFEEJ2IP5VME73 1550000.00000000 EUR 1722863.75000000 USD 2020-01-15 17056.95 N N N United States Treasury Bill 01/23/2020 TBLM 254900HROIFWPRGM1V77 912796TC3 500000.00000000 PA USD 499572.71000000 0.498820517939 Long STIV UST US N 1 N N N AIB Group PLC ORD EUR.625 635400AKJBGNS5WNQL34 000000000 516975.00000000 NS 1800739.59000000 1.798028268914 Long EC CORP IE N 1 N N N N/A N/A 000000000 1.00000000 NC USD 99259.23000000 0.099109778272 N/A DFE N/A N N/A HSBC BANK PLC MP6I5ZYZBEU3UXPYFY54 88424.61000000 EUR 99829.70000000 USD 2020-01-15 -570.47 N N N SHINSEI BANK LTD ORD JPY NPV 549300PZYOQ2NW83V760 000000000 162827.00000000 NS 2509640.90000000 2.505862206886 Long EC CORP JP N 1 N N N Cie Generale des Etablissements Michelin SCA ORD EUR2 549300SOSI58J6VIW052 F61824144 12904.00000000 NS 1578806.93000000 1.576429766448 Long EC CORP FR N 1 N N N CHINA PACIFIC INSURANCE GROUP CO LTD ORD HKD1 CL H 529900BA5ILEL308WX03 000000000 608045.00000000 NS 2395567.61000000 2.391960673712 Long EC CORP CN N 1 N N N DEUTSCHE BANK AG ORD EUR NPV *REGISTERED* 7LTWFZYICNSX8D621K86 D18190898 254188.00000000 NS 1971754.03000000 1.968785217459 Long EC CORP DE N 1 N N N N/A N/A 000000000 1.00000000 NC USD 13906.06000000 0.013885122051 N/A DFE N/A N N/A UBS AG BFM8T61CT2L1QCEMIK50 13906.06000000 USD 13603.60000000 CHF 2020-01-13 -165.64 N N N N/A N/A 000000000 -118.00000000 NC USD -159750.02000000 -0.15950948905 N/A DFE US N 1 MORGAN STANLEY 9R7GPTSO7KV3UQJZQ078 JP MORGAN SECURITIES LLC ZBUT11V806EZRVTWT807 Short EUR/USD Mar 20 Future EUR/USD Mar 20 Future 2020-03-16 -16481200 USD -160041.48 N N N GLAXOSMITHKLINE PLC ORD GBP.25 5493000HZTVUYLO1D793 000000000 138343.00000000 NS 3259632.95000000 3.254725015728 Long EC CORP GB N 1 N N N BAE SYSTEMS PLC ORD GBP.025 8SVCSVKSGDWMW2QHOH83 000000000 229000.00000000 NS 1713033.01000000 1.710453746154 Long EC CORP GB N 1 N N N BASF SE ORD EUR NPV***REGISTERED SHARES*** 529900PM64WH8AF1E917 000000000 34111.00000000 NS 2576392.17000000 2.572512971445 Long EC CORP DE N 1 N N N N/A N/A 000000000 1.00000000 NC USD 880287.62000000 0.878962196602 N/A DFE N/A N N/A HSBC BANK PLC MP6I5ZYZBEU3UXPYFY54 784200.00000000 EUR 886483.21000000 USD 2020-01-15 -6195.59 N N N CANADIAN NATURAL RESOURCES LTD ORD NPV 549300T15RIMIKZC5Q38 136385101 84900.00000000 NS 2745880.18000000 2.741745788291 Long EC CORP CA N 1 N N N N/A N/A 000000000 1.00000000 NC USD 28992.12000000 0.028948467410 N/A DFE N/A N N/A BANK OF AMERICA NA B4TYDEB6GKMZO031MB27 25827.49000000 EUR 28975.63000000 USD 2020-01-15 16.49 N N N VOLKSWAGEN AG PRF EUR NPV 529900NNUPAGGOMPXZ31 D94523103 8416.00000000 NS 1663374.84000000 1.660870345012 Long EP CORP DE N 1 N N N N/A N/A 000000000 1.00000000 NC USD 173798.99000000 0.173537305929 N/A DFE N/A N N/A BANK OF AMERICA NA B4TYDEB6GKMZO031MB27 154828.00000000 EUR 175296.88000000 USD 2020-01-15 -1497.89 N N N BRITISH AMERICAN TOBACCO PLC ORD GBP.25 213800FKA5MF17RJKT63 000000000 78471.00000000 NS 3358527.50000000 3.353470663088 Long EC CORP GB N 1 N N N United States Treasury Bill 01/02/2020 TBLM 254900HROIFWPRGM1V77 912796RT8 400000.00000000 PA USD 400000.00000000 0.399397731665 Long STIV UST US N 1 N N N N/A N/A 000000000 -66.00000000 NC USD -37856.24000000 -0.03779924096 N/A DFE US N 1 JP MORGAN SECURITIES LLC ZBUT11V806EZRVTWT807 Short GBP/USD Mar 20 Future GBP/USD Mar 20 Future 2020-03-16 -5445093.76 USD -38019.26 N N N VODAFONE GROUP PLC ORD GBP.2095 213800TB53ELEUKM7Q61 G93882192 1324860.00000000 NS 2575213.58000000 2.571336156014 Long EC CORP GB N 1 N N N CAIRN HOMES PLC ORD EUR.001 635400DPX6WP2KKDOA83 G1858L107 1397177.00000000 NS 1980516.30000000 1.977534294365 Long EC CORP IE N 1 N N N NOVARTIS AG ORD CHF.5 5493007HIVTX6SY6XD66 H5820Q150 31288.00000000 NS 2971495.07000000 2.967020976531 Long EC CORP CH N 1 N N N N/A N/A 000000000 1.00000000 NC USD 27637.80000000 0.027596186570 N/A DFE N/A N N/A HSBC BANK PLC MP6I5ZYZBEU3UXPYFY54 24621.00000000 EUR 27881.31000000 USD 2020-01-15 -243.51 N N N N/A N/A 000000000 1.00000000 NC USD 15891.65000000 0.015867722406 N/A DFE N/A N N/A HSBC BANK PLC MP6I5ZYZBEU3UXPYFY54 14157.00000000 EUR 15863.34000000 USD 2020-01-15 28.31 N N N JXTG Holdings Inc ORD JPY NPV 3538001KQ5SAOZSQTT44 J29699105 693300.00000000 NS 3176388.96000000 3.171606363776 Long EC CORP JP N 1 N N N N/A N/A 000000000 1.00000000 NC USD 10057808.47000000 10.04266472110 N/A DFE N/A N N/A STATE STREET CORP 549300ZFEEJ2IP5VME73 10057808.47000000 USD 1094420313.00000000 JPY 2020-01-16 -21893.56 N N N N/A N/A 000000000 1.00000000 NC USD 44901.18000000 0.044833573602 N/A DFE N/A N N/A BANK OF AMERICA NA B4TYDEB6GKMZO031MB27 40000.00000000 EUR 44352.68000000 USD 2020-01-15 548.5 N N N N/A N/A 000000000 1.00000000 NC USD 1694741.80000000 1.692190076695 N/A DFE N/A N N/A UBS AG BFM8T61CT2L1QCEMIK50 1694741.80000000 USD 1665177.03000000 CHF 2020-01-13 -27733.72 N N N SANDS CHINA LTD ORD HKD.01 549300EVO6UZDGY05787 G7800X107 312200.00000000 NS 1668715.27000000 1.666202734083 Long EC CORP KY N 1 N N N METRO PACIFIC INVESTMENTS CORP ORD PHP1 N/A 000000000 33698700.00000000 NS 2313959.67000000 2.310475608407 Long EC CORP PH N 1 N N N NN GROUP NV ORD EUR NPV 724500OHYNDT9OY6Q215 N64038107 86936.00000000 NS 3297259.86000000 3.292295271987 Long EC CORP NL N 1 N N N CALTEX AUSTRALIA LTD ORD AUD1 5493009TD1CGVRZ27U11 000000000 30065.00000000 NS 716178.89000000 0.715100560331 Long EC CORP AU N 1 N N N DUFRY AG ORD CHF5 549300X53WDBVW7TIF57 H2082J107 17401.00000000 NS 1726702.86000000 1.724103013859 Long EC CORP CH N 1 N N N N/A N/A 000000000 1.00000000 NC USD 334545.35000000 0.334041634822 N/A DFE N/A N N/A BANK OF AMERICA NA B4TYDEB6GKMZO031MB27 298028.12000000 EUR 337513.87000000 USD 2020-01-15 -2968.52 N N N RSA INSURANCE GROUP PLC ORD GBP1 549300HOGQ7E0TY86138 G7705H157 425931.00000000 NS 3190687.07000000 3.185882945529 Long EC CORP GB N 1 N N N N/A N/A 000000000 1.00000000 NC USD 66147.10000000 0.066047504240 N/A DFE N/A N N/A HSBC BANK PLC MP6I5ZYZBEU3UXPYFY54 58926.83000000 EUR 66657.44000000 USD 2020-01-15 -510.34 N N N CRESCENT POINT ENERGY CORP ORD CAD NPV 549300FTKUHZK8OC7N74 22576C101 585600.00000000 NS 2610984.14000000 2.607052857325 Long EC CORP CA N 1 N N N STANDARD CHARTERED PLC ORD USD.50 U4LOSYZ7YG4W3S5F2G91 G84228157 198100.00000000 NS 1869149.11000000 1.866334786695 Long EC CORP GB N 1 N N N BAIDU INC ADR CLASS A 254900AL64IANZYI1E02 056752108 16131.00000000 NS USD 2038958.40000000 2.035888399799 Long EC CORP KY N 1 N N N N/A N/A 000000000 1.00000000 NC USD 178680.88000000 0.178411845409 N/A DFE N/A N N/A STATE STREET CORP 549300ZFEEJ2IP5VME73 159177.00000000 EUR 178778.06000000 USD 2020-01-15 -97.18 N N N N/A N/A 000000000 1.00000000 NC USD 194671.74000000 0.194378628438 N/A DFE N/A N N/A HSBC BANK PLC MP6I5ZYZBEU3UXPYFY54 146913.24000000 GBP 196637.50000000 USD 2020-01-16 -1965.76 N N N N/A N/A 000000000 1.00000000 NC USD 179604.72000000 0.179334294410 N/A DFE N/A N N/A BANK OF AMERICA NA B4TYDEB6GKMZO031MB27 160000.00000000 EUR 176813.12000000 USD 2020-01-15 2791.6 N N N CREDIT SUISSE GROUP AG ORD CHF 0.04 549300506SI9CRFV9Z86 H3698D419 129527.00000000 NS 1754199.70000000 1.751558452669 Long EC CORP CH N 1 N N N DIRECT LINE INSURANCE GROUP PLC ORD GBP.109091 213800FF2R23ALJQOP04 000000000 668514.00000000 NS 2766916.74000000 2.762750674156 Long EC CORP GB N 1 N N N REXEL SA ORD EUR5 969500N6AVPA51648T62 F7782J366 101939.00000000 NS 1354114.39000000 1.352075539453 Long EC CORP FR N 1 N N N BP PLC ORD GBP.25 213800LH1BZH3DI6G760 000000000 495900.00000000 NS 3097444.02000000 3.092780288870 Long EC CORP GB N 1 N N N N/A N/A 000000000 1.00000000 NC USD 292877.34000000 0.292436363130 N/A DFE N/A N N/A UBS AG BFM8T61CT2L1QCEMIK50 292877.34000000 USD 256222.19000000 EUR 2020-01-15 5260.38 N N N KONINKLIJKE KPN NV ORD EUR.04 549300YO0JZHAL7FVP81 N4297B146 555623.00000000 NS 1639385.09000000 1.636916715679 Long EC CORP NL N 1 N N N N/A N/A 000000000 1.00000000 NC USD 1193882.00000000 1.192084406690 N/A DFE N/A N N/A HSBC BANK PLC MP6I5ZYZBEU3UXPYFY54 1193882.00000000 USD 1413914457.00000000 KRW 2020-01-17 -29651.82 N N N N/A N/A 000000000 1.00000000 NC USD 139360.52000000 0.139150688929 N/A DFE N/A N N/A THE BANK OF NEW YORK MELLON HPFHU0OQ28E4N0NFVK49 139360.52000000 USD 7076727.00000000 PHP 2020-01-16 -208.88 N N N N/A N/A 000000000 1.00000000 NC USD 1076858.41000000 1.075237015696 N/A DFE N/A N N/A HSBC BANK PLC MP6I5ZYZBEU3UXPYFY54 959314.15000000 EUR 1067063.36000000 USD 2020-01-15 9795.05 N N N ASR NEDERLAND NV ORD EUR.16 7245000G0HS48PZWUD53 N0709G103 51344.00000000 NS 1920859.77000000 1.917967587462 Long EC CORP NL N 1 N N N N/A N/A 000000000 1.00000000 NC USD 2424557.54000000 2.420906954419 N/A DFE N/A N N/A THE BANK OF NEW YORK MELLON HPFHU0OQ28E4N0NFVK49 2424557.54000000 USD 123337242.00000000 PHP 2020-01-16 -7937.77 N N N 2020-01-29 Robert Kubilis Robert Kubilis Robert Kubilis Chief Financial Officer, Chief Accounting Officer and Treasurer