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        <name>Public Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sierra Vista Industrial Development Authority</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Ohio Housing Finance Agency</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Knightsbridge Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-06-15</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Indianapolis Local Public Improvement Bond Bank</name>
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          <isin value="US45528U6Y26"/>
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        <valUSD>114184.17000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2057-03-01</maturityDt>
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        <name>Maricopa County Industrial Development Authority</name>
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        <balance>405000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-10-01</maturityDt>
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          <annualizedRt>7.37500000</annualizedRt>
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        <name>City of Princeton TX</name>
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          <isin value="US742400CX02"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-09-01</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>Louisiana Public Facilities Authority</name>
        <lei>549300RQIPT5S4P4M065</lei>
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        <balance>255000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2064-09-01</maturityDt>
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        <name>River Hall Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-05-01</maturityDt>
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        <name>Berks County Municipal Authority (The)</name>
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          <isin value="US084538JH15"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>New Hampshire Business Finance Authority</name>
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          <isin value="US63607YBJ82"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-07-01</maturityDt>
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        <name>GIR East Community Development District</name>
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          <isin value="US37611TAC36"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-05-01</maturityDt>
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        <name>California Community Housing Agency</name>
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          <isin value="US13013FAF18"/>
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        <name>County of Montgomery TX</name>
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          <maturityDt>2054-09-15</maturityDt>
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        <name>Arlington Higher Education Finance Corp.</name>
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        <name>CMFA Special Finance Agency VII</name>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
        <lei>549300ISNGXS0VHGVD41</lei>
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        <name>New York Transportation Development Corp.</name>
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        <name>New York Transportation Development Corp.</name>
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        <name>CMFA Special Finance Agency XII</name>
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        <name>MidCity Improvement District</name>
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        <name>New Hope Cultural Education Facilities Finance Corp.</name>
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        <name>Maryland Economic Development Corp.</name>
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        <name>CSCDA Community Improvement Authority</name>
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        <name>State of Illinois</name>
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        <name>City of Houston TX Airport System Revenue</name>
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        <name>Allentown Commercial and Industrial Development Authority</name>
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        <name>District of Columbia</name>
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        <name>Winding Oaks Community Development District</name>
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        <name>Iowa Higher Education Loan Authority</name>
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        <name>Grand Canyon University</name>
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        <name>Washington State Housing Finance Commission</name>
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        <name>Colorado Health Facilities Authority</name>
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        <name>EP Cimarron Ventanas PFC</name>
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        <name>Sawgrass Village Community Development District</name>
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        <name>Kindred Community Development District II</name>
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        <name>Kings Creek I Community Development District</name>
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        <name>New York City Municipal Water Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Berks County Municipal Authority (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>V-Dana Community Development District</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>California Community Housing Agency</name>
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          <isin value="US13013FAV67"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>City of Celina TX</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>6.75000000</annualizedRt>
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        <name>Delaware County Industrial Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>City of Celina TX</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CMFA Special Finance Agency</name>
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        <name>Franklin Dynamic Municipal Bond ETF</name>
        <lei>549300RTD7Q8YMBA7Q25</lei>
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        <name>Buckeye Tobacco Settlement Financing Authority</name>
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        <name>New York Transportation Development Corp.</name>
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        <name>CMFA Special Finance Agency VIII</name>
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        <name>Walden Pond Fresh Water Supply District</name>
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      <invstOrSec>
        <name>City of Kyle TX</name>
        <lei>549300K0SYODYQ0ANN48</lei>
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        <name>District of Columbia</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Seminole Palms Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Louisiana Local Government Environmental Facilities &amp; Community Development Auth</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-11-01</maturityDt>
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        <name>Hillcrest Preserve Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>City of Apple Valley MN</name>
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        <name>Arkansas Development Finance Authority</name>
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        <name>California Community Housing Agency</name>
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        <name>New York City Housing Development Corp.</name>
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      <invstOrSec>
        <name>City of Fate TX</name>
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      <invstOrSec>
        <name>Langley South Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Woodland Preserve Community Development District</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Saltmeadows Community Development District</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-05-01</maturityDt>
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      <invstOrSec>
        <name>California Infrastructure &amp; Economic Development Bank</name>
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          <isin value="US13034A6B14"/>
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        <balance>215000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>County of Denton TX</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-12-31</maturityDt>
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      <invstOrSec>
        <name>City of Tomball TX</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-09-15</maturityDt>
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      <invstOrSec>
        <name>Savanna Lakes Community Development District</name>
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          <isin value="US804713AF22"/>
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        <balance>135000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-06-15</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>Commonwealth of Puerto Rico</name>
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          <isin value="US74514L3N58"/>
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        <balance>223382.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>191531.17000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-07-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Denver Health &amp; Hospital Authority</name>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>229171.93000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-12-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Lee County Industrial Development Authority/FL</name>
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        <balance>270000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-11-15</maturityDt>
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        <name>Stamford Housing Authority</name>
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        <balance>100000.00000000</balance>
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        <valUSD>98511.72000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-10-01</maturityDt>
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          <annualizedRt>6.50000000</annualizedRt>
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        <name>MidCity Improvement District</name>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>126656.96000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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          <isin value="US74529JPX71"/>
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        <balance>1255000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2058-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
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          <isin value="US130483GD67"/>
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        <balance>150000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-09-01</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>North AR-1 Pasco Community Development District</name>
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          <isin value="US65725AAL89"/>
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        <balance>70000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2054-05-01</maturityDt>
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          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>Public Finance Authority</name>
        <lei>5493004S6D3NA627K012</lei>
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          <isin value="US74444VAM28"/>
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        <balance>125000.00000000</balance>
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        <valUSD>112485.63000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Fox Branch Ranch Community Development District</name>
        <lei>N/A</lei>
        <title>Fox Branch Ranch Community Development District, Series 2025</title>
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          <isin value="US351322AD45"/>
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        <balance>100000.00000000</balance>
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        <valUSD>93773.28000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.40000000</annualizedRt>
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      <invstOrSec>
        <name>Regal Village Community Development District</name>
        <lei>N/A</lei>
        <title>Regal Village Community Development District, Series 2024</title>
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          <isin value="US75884SAC52"/>
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        <balance>145000.00000000</balance>
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        <name>Epperson North Community Development District</name>
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        <name>Lakeshore Villages Master Community Development District</name>
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        <name>California Community Housing Agency</name>
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        <name>Gas Worx Community Development District</name>
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        <name>Henderson Local Improvement Districts</name>
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        <name>New York Transportation Development Corp.</name>
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        <name>Stonegate Preserve Community Development District</name>
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      <invstOrSec>
        <name>Town of La Plata MD</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Harris County Municipal Utility District No. 540</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-09-01</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>New Hope Cultural Education Facilities Finance Corp.</name>
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          <isin value="US64542PEU57"/>
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        <balance>85000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Avenir Community Development District</name>
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          <isin value="US05357JAW62"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-05-01</maturityDt>
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          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>Berks County Municipal Authority (The)</name>
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          <isin value="US084538JK44"/>
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        <balance>59000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-06-30</maturityDt>
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      <invstOrSec>
        <name>Seaton Creek Reserve Community Development District</name>
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        <valUSD>99137.72000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-06-15</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>Marion Ranch Community Development District</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-05-01</maturityDt>
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      <invstOrSec>
        <name>Iowa Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-12-01</maturityDt>
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        <name>Tulsa Municipal Airport Trust Trustees</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-12-01</maturityDt>
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        <name>Babcock Ranch Community Independent Special District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Pacific Ace Community Development District</name>
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        <name>Public Finance Authority</name>
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        <name>Sierra Vista Industrial Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2056-10-01</maturityDt>
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      <invstOrSec>
        <name>California Community Choice Financing Authority</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Wellness Ridge Community Development District</name>
        <lei>N/A</lei>
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          <isin value="US95004CAF68"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-06-15</maturityDt>
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      <invstOrSec>
        <name>Commonwealth of Puerto Rico</name>
        <lei>549300X44HXPLJU48U63</lei>
        <title>Commonwealth of Puerto Rico, Series 2022 A-1</title>
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        <identifiers>
          <isin value="US74514L3P07"/>
          <other otherDesc="Inhouse Asset ID" value="1192433"/>
        </identifiers>
        <balance>515826.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>424259.66000000</valUSD>
        <pctVal>1.741084784651</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Parker Pointe Community Development District</name>
        <lei>N/A</lei>
        <title>Parker Pointe Community Development District, Series 2024</title>
        <cusip>70111TAB1</cusip>
        <identifiers>
          <isin value="US70111TAB17"/>
          <other otherDesc="Inhouse Asset ID" value="1363713"/>
        </identifiers>
        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>96744.96000000</valUSD>
        <pctVal>0.397023789270</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Twisted Oaks Pointe Community Development District</name>
        <lei>N/A</lei>
        <title>Twisted Oaks Pointe Community Development District, Series 2023</title>
        <cusip>90184FAB1</cusip>
        <identifiers>
          <isin value="US90184FAB13"/>
          <other otherDesc="Inhouse Asset ID" value="1262356"/>
        </identifiers>
        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>98280.12000000</valUSD>
        <pctVal>0.403323807796</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <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>2025-06-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Franklin Strategic Series</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>
