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        <name>Brixmor Property Group, Inc.</name>
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      <invstOrSec>
        <name>Capital One Financial Corp.</name>
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        <name>Carlisle Cos., Inc.</name>
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        <name>Citizens Financial Group, Inc.</name>
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        <name>Colgate-Palmolive Co.</name>
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        <name>Cooper Cos., Inc. (The)</name>
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        <name>DR Horton, Inc.</name>
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        <name>Dick's Sporting Goods, Inc.</name>
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        <name>Dollar General Corp.</name>
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        <name>Dover Corp.</name>
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        <name>EOG Resources, Inc.</name>
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        <name>EastGroup Properties, Inc.</name>
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        <name>eBay, Inc.</name>
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        <name>Entergy Corp.</name>
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        <name>Envista Holdings Corp.</name>
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        <name>Evergy, Inc.</name>
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        <name>Fiserv, Inc.</name>
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        <name>Fox Corp.</name>
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        <name>Arthur J Gallagher &amp; Co.</name>
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        <title>Arthur J Gallagher &amp; Co.</title>
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        <name>Haleon plc</name>
        <lei>549300PSB3WWEODCUP19</lei>
        <title>Haleon plc</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Franklin Institutional U.S. Government Money Market Fund</name>
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        <name>International Paper Co.</name>
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        <name>iShares Russell Mid-Cap Value ETF</name>
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        <name>KBR, Inc.</name>
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        <name>Kroger Co. (The)</name>
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        <name>Lamar Advertising Co.</name>
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        <name>Estee Lauder Cos., Inc. (The)</name>
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        <name>MKS, Inc.</name>
        <lei>549300KEQATBHAGVF505</lei>
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        <name>Masco Corp.</name>
        <lei>5GCSNMQXHEYA1JO8QN11</lei>
        <title>Masco Corp.</title>
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        <name>PNC Financial Services Group, Inc. (The)</name>
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        <name>PPG Industries, Inc.</name>
        <lei>549300BKPEP01R3V6C59</lei>
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        <name>PPL Corp.</name>
        <lei>9N3UAJSNOUXFKQLF3V18</lei>
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        <name>Raymond James Financial, Inc.</name>
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        <name>Reliance, Inc.</name>
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        <name>Restaurant Brands International, Inc.</name>
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        <name>Roper Technologies, Inc.</name>
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        <name>Henry Schein, Inc.</name>
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        <name>SLB Ltd.</name>
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        <name>TD SYNNEX Corp.</name>
        <lei>5493004HI6PFLF46NS53</lei>
        <title>TD SYNNEX Corp.</title>
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        <name>Ulta Beauty, Inc.</name>
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        <name>United Rentals, Inc.</name>
        <lei>5323X5O7RN0NKFCDRY08</lei>
        <title>United Rentals, Inc.</title>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>US Foods Holding Corp.</name>
        <lei>549300UGOZSO64CFPR97</lei>
        <title>US Foods Holding Corp.</title>
        <cusip>912008109</cusip>
        <identifiers>
          <isin value="US9120081099"/>
          <other otherDesc="Inhouse Asset ID" value="634795"/>
        </identifiers>
        <balance>54893.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5521686.87000000</valUSD>
        <pctVal>0.709590845982</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Valmont Industries, Inc.</name>
        <lei>5493009ZGZJJ8F77JN08</lei>
        <title>Valmont Industries, Inc.</title>
        <cusip>920253101</cusip>
        <identifiers>
          <isin value="US9202531011"/>
          <other otherDesc="Inhouse Asset ID" value="13283"/>
        </identifiers>
        <balance>19563.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9423497.10000000</valUSD>
        <pctVal>1.211011677542</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Williams Cos., Inc. (The)</name>
        <lei>D71FAKCBLFS2O0RBPG08</lei>
        <title>Williams Cos., Inc. (The)</title>
        <cusip>969457100</cusip>
        <identifiers>
          <isin value="US9694571004"/>
          <other otherDesc="Inhouse Asset ID" value="26547"/>
        </identifiers>
        <balance>147925.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10582554.50000000</valUSD>
        <pctVal>1.359961906045</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Zimmer Biomet Holdings, Inc.</name>
        <lei>2P2YLDVPES3BXQ1FRB91</lei>
        <title>Zimmer Biomet Holdings, Inc.</title>
        <cusip>98956P102</cusip>
        <identifiers>
          <isin value="US98956P1021"/>
          <other otherDesc="Inhouse Asset ID" value="213402"/>
        </identifiers>
        <balance>124778.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11720397.54000000</valUSD>
        <pctVal>1.506185881500</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Allegion plc</name>
        <lei>984500560CAC2E6FB757</lei>
        <title>Allegion plc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="IE00BFRT3W74"/>
          <other otherDesc="Inhouse Asset ID" value="564915"/>
        </identifiers>
        <balance>33222.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5229142.80000000</valUSD>
        <pctVal>0.671996067610</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Amdocs Ltd.</name>
        <lei>549300HQV672RJ7RQV66</lei>
        <title>Amdocs Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB0022569080"/>
          <other otherDesc="Inhouse Asset ID" value="191836"/>
        </identifiers>
        <balance>181450.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10110394.00000000</valUSD>
        <pctVal>1.299284657131</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Everest Group Ltd.</name>
        <lei>549300N24XF2VV0B3570</lei>
        <title>Everest Group Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BMG3223R1088"/>
          <other otherDesc="Inhouse Asset ID" value="198940"/>
        </identifiers>
        <balance>30860.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11546269.00000000</valUSD>
        <pctVal>1.483808658575</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Aptiv plc</name>
        <lei>N/A</lei>
        <title>Aptiv plc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JE00BTDN8H13"/>
          <other otherDesc="Inhouse Asset ID" value="1429120"/>
        </identifiers>
        <balance>98140.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5541965.80000000</valUSD>
        <pctVal>0.712196887113</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Gates Industrial Corp. Ltd.</name>
        <lei>254900O70FFKZFX9JR40</lei>
        <title>Gates Industrial Corp. Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BMG391041073"/>
          <other otherDesc="Inhouse Asset ID" value="1635162"/>
        </identifiers>
        <balance>370304.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10361105.92000000</valUSD>
        <pctVal>1.331503594495</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Johnson Controls International plc</name>
        <lei>549300XQ6S1GYKGBL205</lei>
        <title>Johnson Controls International plc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="IE00BY7QL619"/>
          <other otherDesc="Inhouse Asset ID" value="592021"/>
        </identifiers>
        <balance>27053.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3967592.98000000</valUSD>
        <pctVal>0.509874559256</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sensata Technologies Holding plc</name>
        <lei>529900MS7KFYCY9MS037</lei>
        <title>Sensata Technologies Holding plc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00BFMBMT84"/>
          <other otherDesc="Inhouse Asset ID" value="825414"/>
        </identifiers>
        <balance>211175.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9775290.75000000</valUSD>
        <pctVal>1.256220607275</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TE Connectivity plc</name>
        <lei>6367003TB6K484NFHE54</lei>
        <title>TE Connectivity plc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="IE000IVNQZ81"/>
          <other otherDesc="Inhouse Asset ID" value="1398978"/>
        </identifiers>
        <balance>50166.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10318644.54000000</valUSD>
        <pctVal>1.326046891270</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AerCap Holdings NV</name>
        <lei>549300SZYINBBLJQU475</lei>
        <title>AerCap Holdings NV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="NL0000687663"/>
          <other otherDesc="Inhouse Asset ID" value="374643"/>
        </identifiers>
        <balance>73503.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11091602.70000000</valUSD>
        <pctVal>1.425379585712</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CNH Industrial NV</name>
        <lei>549300WGC2HZ5J67V817</lei>
        <title>CNH Industrial NV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="NL0010545661"/>
          <other otherDesc="Inhouse Asset ID" value="560968"/>
        </identifiers>
        <balance>770980.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7902545.00000000</valUSD>
        <pctVal>1.015554435444</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NXP Semiconductors NV</name>
        <lei>724500M9BY5293JDF951</lei>
        <title>NXP Semiconductors NV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="NL0009538784"/>
          <other otherDesc="Inhouse Asset ID" value="474794"/>
        </identifiers>
        <balance>25507.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5845184.12000000</valUSD>
        <pctVal>0.751163411161</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Flex Ltd.</name>
        <lei>549300EAQH74YHD07T53</lei>
        <title>Flex Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="SG9999000020"/>
          <other otherDesc="Inhouse Asset ID" value="52077"/>
        </identifiers>
        <balance>71994.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8189317.50000000</valUSD>
        <pctVal>1.052407510540</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</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>2026-08-31</ncom:dateSigned>
      <ncom:nameOfApplicant>Franklin Value Investors 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>
