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        <name>TechnipFMC plc</name>
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        <name>Hunting plc</name>
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      <invstOrSec>
        <name>Babcock International Group plc</name>
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        <name>Mueller Water Products, Inc.</name>
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        <name>McGrath RentCorp</name>
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        <name>Middleby Corp. (The)</name>
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        <name>Taylor Morrison Home Corp.</name>
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        <name>RXO, Inc.</name>
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        <name>Knight-Swift Transportation Holdings, Inc.</name>
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        <name>La-Z-Boy, Inc.</name>
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        <name>Victory Capital Holdings, Inc.</name>
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        <name>Regal Rexnord Corp.</name>
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        <name>HNI Corp.</name>
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        <name>Ashland, Inc.</name>
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        <name>Horace Mann Educators Corp.</name>
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        <name>Mattel, Inc.</name>
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        <name>Brunswick Corp.</name>
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        <name>UFP Industries, Inc.</name>
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        <name>Chart Industries, Inc.</name>
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        <name>First Commonwealth Financial Corp.</name>
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        <name>Ryerson Holding Corp.</name>
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        <title>Ryerson Holding Corp.</title>
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        <name>Seacoast Banking Corp. of Florida</name>
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        <name>Gap, Inc. (The)</name>
        <lei>T2ZG1WRWZ4BUCMQL9224</lei>
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        <name>CNO Financial Group, Inc.</name>
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      <invstOrSec>
        <name>American Woodmark Corp.</name>
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        <name>First Bancorp</name>
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        <name>SouthState Corp.</name>
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      <invstOrSec>
        <name>Black Hills Corp.</name>
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        <name>Alexander &amp; Baldwin, Inc.</name>
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        <name>Century Communities, Inc.</name>
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        <name>Hanover Insurance Group, Inc. (The)</name>
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      <invstOrSec>
        <name>Sanmina Corp.</name>
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        <name>Senior plc</name>
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      <invstOrSec>
        <name>WSFS Financial Corp.</name>
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        <title>WSFS Financial Corp.</title>
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      <invstOrSec>
        <name>Elementis plc</name>
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        <name>Commercial Metals Co.</name>
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        <name>M/I Homes, Inc.</name>
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        <name>German American Bancorp, Inc.</name>
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        <name>Dr. Martens plc</name>
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        <name>WillScot Holdings Corp.</name>
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        <title>WillScot Holdings Corp.</title>
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        <name>ACI Worldwide, Inc.</name>
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        <name>Washington Trust Bancorp, Inc.</name>
        <lei>J66MZFCNJPP3PERHZW54</lei>
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        <name>Kite Realty Group Trust</name>
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        <name>Gates Industrial Corp. plc</name>
        <lei>549300S6K4FWUSB9KM27</lei>
        <title>Gates Industrial Corp. plc</title>
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        <invCountry>GB</invCountry>

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        <fairValLevel>1</fairValLevel>
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        <name>Columbia Banking System, Inc.</name>
        <lei>N/A</lei>
        <title>Columbia Banking System, Inc.</title>
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        <invCountry>US</invCountry>
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        <name>Benchmark Electronics, Inc.</name>
        <lei>549300W18RHYZOZKOP53</lei>
        <title>Benchmark Electronics, Inc.</title>
        <cusip>08160H101</cusip>
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      <invstOrSec>
        <name>Sandy Spring Bancorp, Inc.</name>
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        <name>Hilton Grand Vacations, Inc.</name>
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        <name>Knowles Corp.</name>
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        <name>Boyd Gaming Corp.</name>
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        <name>Peoples Bancorp, Inc.</name>
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        <name>IDACORP, Inc.</name>
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        <name>First Interstate BancSystem, Inc.</name>
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        <name>Bread Financial Holdings, Inc.</name>
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        <name>STAG Industrial, Inc.</name>
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        <name>Institutional Fiduciary Trust - Money Market Portfolio</name>
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        <title>Institutional Fiduciary Trust - Money Market Portfolio</title>
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        <name>TTM Technologies, Inc.</name>
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        <name>Bath &amp; Body Works, Inc.</name>
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        <name>Atlantic Union Bankshares Corp.</name>
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        <name>Liberty Energy, Inc.</name>
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        <name>Select Water Solutions, Inc.</name>
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        <name>BRP, Inc.</name>
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        <name>Avient Corp.</name>
        <lei>SM8L9RZYIB34LNTWO040</lei>
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        <name>Cable One, Inc.</name>
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        <name>TWFG, Inc.</name>
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        <name>Envista Holdings Corp.</name>
        <lei>549300BX623VURJZ5269</lei>
        <title>Envista Holdings Corp.</title>
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        <name>Valmont Industries, Inc.</name>
        <lei>5493009ZGZJJ8F77JN08</lei>
        <title>Valmont Industries, Inc.</title>
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      <invstOrSec>
        <name>QinetiQ Group plc</name>
        <lei>213800S8OBDOZMCMUW34</lei>
        <title>QinetiQ Group plc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00B0WMWD03"/>
          <other otherDesc="Inhouse Asset ID" value="357750"/>
        </identifiers>
        <balance>5277262.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.77414360"/>
        <valUSD>26459730.77000000</valUSD>
        <pctVal>2.541278572648</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Melrose Industries plc</name>
        <lei>213800RGNXXZY2M7TR85</lei>
        <title>Melrose Industries plc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00BNGDN821"/>
          <other otherDesc="Inhouse Asset ID" value="617831"/>
        </identifiers>
        <balance>2469138.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.77414360"/>
        <valUSD>15241546.79000000</valUSD>
        <pctVal>1.463847709114</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-04-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Franklin Templeton Variable Insurance Products Trust</ncom:nameOfApplicant>
      <ncom:signature>Monica Krogh</ncom:signature>
      <ncom:signerName>Monica Krogh</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
