NPORT-P
false
0000825063
XXXXXXXX
S000007864
C000021390
C000021392
C000021393
C000021394
C000128731
Franklin Mutual Series Funds
811-05387
0000825063
549300DW3N5FG4OTT022
101 John F. Kennedy Parkway
Short Hills
07078-2791
973-912-2000
Franklin Mutual Shares Fund
S000007864
QOET654RR8JMYG00F771
2025-12-31
2025-12-31
N
7025018017.47
5182349.73
7019835667.74
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
0.00000000
N
Adobe, Inc.
FU4LY2G4933NH2E1CP29
Adobe, Inc.
00724F101
385414.00000000
NS
USD
134891045.86000000
1.921569852124
Long
EC
CORP
US
N
1
N
N
N
Alphabet, Inc.
5493006MHB84DD0ZWV18
Alphabet, Inc., Class A
02079K305
799105.00000000
NS
USD
250119865.00000000
3.563044447741
Long
EC
CORP
US
N
1
N
N
N
Amazon.com, Inc.
ZXTILKJKG63JELOEG630
Amazon.com, Inc.
023135106
889735.00000000
NS
USD
205368632.70000000
2.925547582884
Long
EC
CORP
US
N
1
N
N
N
British American Tobacco plc
213800FKA5MF17RJKT63
British American Tobacco plc
N/A
2127092.00000000
NS
120586238.82000000
1.717792901821
Long
EC
CORP
GB
N
2
N
N
N
American Tower Corp.
5493006ORUSIL88JOE18
American Tower Corp.
03027X100
665999.00000000
NS
USD
116929444.43000000
1.665700594208
Long
EC
CORP
US
N
1
N
N
N
Elevance Health, Inc.
8MYN82XMYQH89CTMTH67
Elevance Health, Inc.
036752103
159336.00000000
NS
USD
55855234.80000000
0.795677241515
Long
EC
CORP
US
N
1
N
N
N
Apollo Global Management, Inc.
254900LMFT1CY9IYB476
Apollo Global Management, Inc.
03769M106
852664.00000000
NS
USD
123431640.64000000
1.758326640141
Long
EC
CORP
US
N
1
N
N
N
Bank of America Corp.
9DJT3UXIJIZJI4WXO774
Bank of America Corp.
060505104
2729124.00000000
NS
USD
150101820.00000000
2.138252618787
Long
EC
CORP
US
N
1
N
N
N
BlackRock, Inc.
529900VBK42Y5HHRMD23
BlackRock, Inc.
09290D101
124720.00000000
NS
USD
133492804.80000000
1.901651422033
Long
EC
CORP
US
N
1
N
N
N
Brixmor Property Group, Inc.
5299007UXW6Y0W2EGZ95
Brixmor Property Group, Inc.
11120U105
5080366.00000000
NS
USD
133207196.52000000
1.897582832774
Long
EC
CORP
US
N
1
N
N
N
Capital One Financial Corp.
ZUE8T73ROZOF6FLBAR73
Capital One Financial Corp.
14040H105
535230.00000000
NS
USD
129718342.80000000
1.847882898400
Long
EC
CORP
US
N
1
N
N
N
Chevron Corp.
N/A
Chevron Corp.
166764100
967849.00000000
NS
USD
147509866.09000000
2.101329334073
Long
EC
CORP
US
N
1
N
N
N
Cisco Systems, Inc.
549300LKFJ962MZ46593
Cisco Systems, Inc.
17275R102
1674747.00000000
NS
USD
129005761.41000000
1.837731928723
Long
EC
CORP
US
N
1
N
N
N
Colgate-Palmolive Co.
YMEGZFW4SBUSS5BQXF88
Colgate-Palmolive Co.
194162103
1903253.00000000
NS
USD
150395052.06000000
2.142429811443
Long
EC
CORP
US
N
1
N
N
N
Cooper Cos., Inc. (The)
QJKMVPIGLH7530PCUE20
Cooper Cos., Inc. (The)
216648501
1339046.00000000
NS
USD
109748210.16000000
1.563401414998
Long
EC
CORP
US
N
1
N
N
N
Walt Disney Co. (The)
549300GZKULIZ0WOW665
Walt Disney Co. (The)
254687106
1400106.00000000
NS
USD
159290059.62000000
2.269142287076
Long
EC
CORP
US
N
1
N
N
N
Dollar General Corp.
OPX52SQVOZI8IVSWYU66
Dollar General Corp.
256677105
1223978.00000000
NS
USD
162507559.06000000
2.314976685377
Long
EC
CORP
US
N
1
N
N
N
Dover Corp.
549300FMC2ALGA7N9E80
Dover Corp.
260003108
851790.00000000
NS
USD
166303479.60000000
2.369050893374
Long
EC
CORP
US
N
1
N
N
N
EOG Resources, Inc.
XWTZDRYZPBUHIQBKDB46
EOG Resources, Inc.
26875P101
1228342.00000000
NS
USD
128988193.42000000
1.837481666597
Long
EC
CORP
US
N
1
N
N
N
Entergy Corp.
4XM3TW50JULSLG8BNC79
Entergy Corp.
29364G103
1274134.00000000
NS
USD
117768205.62000000
1.677649039011
Long
EC
CORP
US
N
1
N
N
N
Ferguson Enterprises, Inc.
2138003JYQMRP3SLX189
Ferguson Enterprises, Inc.
31488V107
656113.00000000
NS
USD
146070437.19000000
2.080824168880
Long
EC
CORP
US
N
1
N
N
N
Fiserv, Inc.
GI7UBEJLXYLGR2C7GV83
Fiserv, Inc.
337738108
1120020.00000000
NS
USD
75231743.40000000
1.071702344055
Long
EC
CORP
US
N
1
N
N
N
General Motors Co.
54930070NSV60J38I987
General Motors Co.
37045V100
1613850.00000000
NS
USD
131238282.00000000
1.869534960812
Long
EC
CORP
US
N
1
N
N
N
Hartford Insurance Group, Inc. (The)
IU7C3FTM7Y3BQM112U94
Hartford Insurance Group, Inc. (The)
416515104
1233537.00000000
NS
USD
169981398.60000000
2.421444128402
Long
EC
CORP
US
N
1
N
N
N
Franklin Institutional U.S. Government Money Market Fund
549300M4TP89K77LG374
Franklin Institutional U.S. Government Money Market Fund
457756500
18780288.27000000
NS
USD
18780288.27000000
0.267531736623
Long
STIV
RF
US
N
1
N
N
N
International Paper Co.
824LMFJDH41EY779Q875
International Paper Co.
460146103
2956746.00000000
NS
USD
116466224.94000000
1.659101871504
Long
EC
CORP
US
N
1
N
N
N
JPMorgan Chase & Co.
8I5DZWZKVSZI1NUHU748
JPMorgan Chase & Co.
46625H100
497507.00000000
NS
USD
160306705.54000000
2.283624761711
Long
EC
CORP
US
N
1
N
N
N
KBR, Inc.
254900OFQDXZRKRCV808
KBR, Inc.
48242W106
1737133.00000000
NS
USD
69832746.60000000
0.994791757318
Long
EC
CORP
US
N
1
N
N
N
Estee Lauder Cos., Inc. (The)
549300VFZ8XJ9NUPU221
Estee Lauder Cos., Inc. (The), Class A
518439104
1286788.00000000
NS
USD
134752439.36000000
1.919595354336
Long
EC
CORP
US
N
1
N
N
N
Michaels Cos., Inc. (The)
549300H9LWMBP7HYLR98
Michaels Cos., Inc. (The)
55916AAB0
27532000.00000000
PA
USD
25452119.84000000
0.362574297244
Long
DBT
CORP
US
N
2
2029-05-01
Fixed
7.87500000
N
N
N
N
N
N
Merck & Co., Inc.
4YV9Y5M8S0BRK1RP0397
Merck & Co., Inc.
58933Y105
1061677.00000000
NS
USD
111752121.02000000
1.591947821991
Long
EC
CORP
US
N
1
N
N
N
Neptune Bidco US, Inc.
549300VG15T3VCYZ4531
Neptune Bidco US, Inc.
640695AC6
17392800.00000000
PA
USD
17843464.84000000
0.254186361113
Long
DBT
CORP
US
N
2
2031-05-15
Fixed
10.37500000
N
N
N
N
N
N
Michaels Cos., Inc. (The)
549300H9LWMBP7HYLR98
Michaels Cos., Inc. (The), First Lien, CME Term Loan, B
59408UAB3
40220900.62610000
PA
USD
38987727.81000000
0.555393739331
Long
LON
CORP
US
N
2
2028-04-17
Variable
8.18355000
N
N
N
N
N
N
CoreLogic, Inc.
54930086CD8K2UIL0516
CoreLogic, Inc., First Lien, Initial CME Term Loan
21870FBA6
30607127.28750000
PA
USD
30676605.47000000
0.436998911683
Long
LON
CORP
US
N
2
2028-06-02
Variable
7.33058000
N
N
N
N
N
N
Gen Digital, Inc.
YF6ZV0M6AU4FY94MK914
Gen Digital, Inc.
668771108
3914948.00000000
NS
USD
106447436.12000000
1.516380741064
Long
EC
CORP
US
N
1
N
N
N
Novartis AG
5493007HIVTX6SY6XD66
Novartis AG
66987V109
1101492.00000000
NS
USD
151862702.04000000
2.163336995734
Long
EC
CORP
CH
N
1
N
N
N
PNC Financial Services Group, Inc. (The)
CFGNEKW0P8842LEUIA51
PNC Financial Services Group, Inc. (The)
693475105
670802.00000000
NS
USD
140016501.46000000
1.994583749352
Long
EC
CORP
US
N
1
N
N
N
PPG Industries, Inc.
549300BKPEP01R3V6C59
PPG Industries, Inc.
693506107
1147600.00000000
NS
USD
117583096.00000000
1.675012088108
Long
EC
CORP
US
N
1
N
N
N
PPL Corp.
9N3UAJSNOUXFKQLF3V18
PPL Corp.
69351T106
3969907.00000000
NS
USD
139026143.14000000
1.980475750720
Long
EC
CORP
US
N
1
N
N
N
Roche Holding AG
549300U41AUUVOAAOB37
Roche Holding AG
N/A
366441.00000000
NS
151329241.30000000
2.155737662000
Long
EC
CORP
CH
N
2
N
N
N
Nestle SA
KY37LUS27QQX7BB93L28
Nestle SA
N/A
1139721.00000000
NS
113127704.78000000
1.611543490966
Long
EC
CORP
CH
N
2
N
N
N
Neptune Bidco US, Inc.
N/A
Neptune Bidco US, Inc., First Lien, Dollar CME Term Loan, B
64069JAC6
28628999.11260000
PA
USD
28374916.75000000
0.404210555531
Long
LON
CORP
US
N
2
2029-04-11
Variable
9.01150000
N
N
N
N
N
N
Progressive Corp. (The)
529900TACNVLY9DCR586
Progressive Corp. (The)
743315103
675573.00000000
NS
USD
153841483.56000000
2.191525426542
Long
EC
CORP
US
N
1
N
N
N
Reliance, Inc.
549300E287ZOFT3C5Z56
Reliance, Inc.
759509102
482258.00000000
NS
USD
139309868.46000000
1.984517516559
Long
EC
CORP
US
N
1
N
N
N
Neptune Bidco US, Inc.
549300VG15T3VCYZ4531
Neptune Bidco US, Inc., First Lien, CME Term Loan, A
64069JAF9
37326071.23050000
PA
USD
36921083.36000000
0.525953670534
Long
LON
CORP
US
N
2
2028-10-11
Variable
8.76150000
N
N
N
N
N
N
SS&C Technologies Holdings, Inc.
529900POY8H7NPPNKK71
SS&C Technologies Holdings, Inc.
78467J100
1195369.00000000
NS
USD
104499157.98000000
1.488626841511
Long
EC
CORP
US
N
1
N
N
N
SLB Ltd.
213800ZUA17OK3QLGM62
SLB Ltd.
806857108
2846080.00000000
NS
USD
109232550.40000000
1.556055662413
Long
EC
CORP
CW
N
1
N
N
N
Thermo Fisher Scientific, Inc.
HCHV7422L5HDJZCRFL38
Thermo Fisher Scientific, Inc.
883556102
298605.00000000
NS
USD
173026667.25000000
2.464825039212
Long
EC
CORP
US
N
1
N
N
N
iHeartCommunications, Inc.
N/A
iHeartCommunications, Inc., First Lien, Refinanced CME Term Loan, B
45174UAJ7
0.00480000
PA
USD
0.00000000
0.000000
Long
LON
CORP
US
N
2
2029-05-01
Variable
9.60558000
N
N
N
N
N
N
Ulta Beauty, Inc.
529900CIV6HN8M28YM82
Ulta Beauty, Inc.
90384S303
233211.00000000
NS
USD
141094987.11000000
2.009947152444
Long
EC
CORP
US
N
1
N
N
N
Union Pacific Corp.
549300LMMRSZZCZ8CL11
Union Pacific Corp.
907818108
467173.00000000
NS
USD
108066458.36000000
1.539444275834
Long
EC
CORP
US
N
1
N
N
N
Wells Fargo & Co.
PBLD0EJDB5FWOLXP3B76
Wells Fargo & Co.
949746101
1563209.00000000
NS
USD
145691078.80000000
2.075420076705
Long
EC
CORP
US
N
1
N
N
N
Zimmer Biomet Holdings, Inc.
2P2YLDVPES3BXQ1FRB91
Zimmer Biomet Holdings, Inc.
98956P102
721121.00000000
NS
USD
64843200.32000000
0.923713935612
Long
EC
CORP
US
N
1
N
N
N
Walter Energy, Inc.
N/A
Walter Energy, Inc., Litigation Trust, Contingent Distribution
N/A
20046000.00000000
NS
USD
0.00000000
0.000000
Long
EC
CORP
US
N
3
N
N
N
Bosgen Liquidating Trust c/o Verdolino and Lowey P.C., Contingent Distribution
724500SEMY2K987RV910
Bosgen Liquidating Trust c/o Verdolino and Lowey P.C., Contingent Distribution
N/A
555154.19000000
NS
USD
0.00000000
0.000000
Long
EC
CORP
NL
N
3
N
N
N
Haleon plc
549300PSB3WWEODCUP19
Haleon plc
N/A
35943104.00000000
NS
181634203.82000000
2.587442390634
Long
EC
CORP
GB
N
2
N
N
N
Johnson Controls International plc
549300XQ6S1GYKGBL205
Johnson Controls International plc
N/A
1357590.00000000
NS
USD
162571402.50000000
2.315886157379
Long
EC
CORP
IE
N
1
N
N
N
Medtronic plc
549300GX3ZBSQWUXY261
Medtronic plc
N/A
1218190.00000000
NS
USD
117019331.40000000
1.666981065351
Long
EC
CORP
IE
N
1
N
N
N
AerCap Holdings NV
549300SZYINBBLJQU475
AerCap Holdings NV
N/A
758572.00000000
NS
USD
109052310.72000000
1.553488085499
Long
EC
CORP
NL
N
1
N
N
N
NXP Semiconductors NV
724500M9BY5293JDF951
NXP Semiconductors NV
N/A
500783.00000000
NS
USD
108699957.98000000
1.548468698199
Long
EC
CORP
NL
N
1
N
N
N
Uniti Group, Inc.
549300V3NU625PJUVA84
Uniti Group, Inc.
N/A
437045.00000000
NS
USD
2640630.26000000
0.037616696244
Long
CORP
US
Y
3
N
N
N
Uniti Group, Inc.
549300V3NU625PJUVA84
Uniti Group, Inc.
N/A
14312.28000000
NS
USD
14116549.12000000
0.201095150772
Long
EC
CORP
US
Y
3
N
N
N
Uniti Group, Inc.
549300V3NU625PJUVA84
Uniti Group, Inc.
N/A
2243497.00000000
NS
USD
15335634.63000000
0.218461447758
Long
EC
CORP
US
Y
3
N
N
N
Flex Ltd.
549300EAQH74YHD07T53
Flex Ltd.
N/A
1199663.00000000
NS
USD
72483638.46000000
1.032554633623
Long
EC
CORP
SG
N
1
N
N
N
2026-01-30
Franklin Mutual Series Funds
Monica Krogh
Monica Krogh
Assistant Treasurer