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      <invstOrSec>
        <name>Permian Resources Corp.</name>
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      <invstOrSec>
        <name>Tourmaline Oil Corp.</name>
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      <invstOrSec>
        <name>Ovintiv, Inc.</name>
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      <invstOrSec>
        <name>Xylem, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Antofagasta plc</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Occidental Petroleum Corp.</name>
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      <invstOrSec>
        <name>TechnipFMC plc</name>
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        <name>Cadeler A/S</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Solaris Energy Infrastructure, Inc.</name>
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        <name>Phillips 66</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Vale SA</name>
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        <fairValLevel>1</fairValLevel>
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        <name>GE Vernova, Inc.</name>
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        <title>GE Vernova, Inc.</title>
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        <name>Trican Well Service Ltd.</name>
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        <title>Trican Well Service Ltd.</title>
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        <name>Cactus, Inc.</name>
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        <name>B2Gold Corp.</name>
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        <name>Cheniere Energy, Inc.</name>
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        <name>Capstone Copper Corp.</name>
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        <title>Capstone Copper Corp.</title>
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        <name>Redwood Materials, Inc.</name>
        <lei>5493008UYCX7OTNK6D78</lei>
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        <name>Glencore plc</name>
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        <title>Glencore plc</title>
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        <name>Lindian Resources Ltd.</name>
        <lei>984500CHDBDE3657BC83</lei>
        <title>Lindian Resources Ltd.</title>
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        <name>Newmont Corp.</name>
        <lei>549300VSP3RIX7FGDZ51</lei>
        <title>Newmont Corp.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Ranger Energy Services, Inc.</name>
        <lei>549300J7RIVGVAN0RE23</lei>
        <title>Ranger Energy Services, Inc., Class A</title>
        <cusip>75282U104</cusip>
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        <name>Teck Resources Ltd.</name>
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        <title>SLB Ltd.</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>IperionX Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Aker BP ASA</name>
        <lei>549300NFTY73920OYK69</lei>
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          <isin value="NO0010345853"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>EQT Corp.</name>
        <lei>4NT01YGM4X7ZX86ISY52</lei>
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          <isin value="US26884L1098"/>
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        <curCd>USD</curCd>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Chevron Corp.</name>
        <lei>N/A</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TC Energy Corp.</name>
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        <title>TC Energy Corp.</title>
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          <isin value="CA87807B1076"/>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Halliburton Co.</name>
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          <isin value="US4062161017"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ConocoPhillips</name>
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          <isin value="US20825C1045"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Bunge Global SA</name>
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        <balance>28400.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Otovo ASA</name>
        <lei>213800GFRKV96MLT9G04</lei>
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        <cusip>N/A</cusip>
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          <isin value="NO0010809783"/>
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        <invCountry>NO</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ERO Copper Corp.</name>
        <lei>549300KL8A21SEIO8I47</lei>
        <title>ERO Copper Corp.</title>
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          <isin value="CA2960061091"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Rio Tinto plc</name>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Reliance, Inc.</name>
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        <title>Reliance, Inc.</title>
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        <name>Neo Performance Materials, Inc.</name>
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        <name>BHP Group Ltd.</name>
        <lei>WZE1WSENV6JSZFK0JC28</lei>
        <title>BHP Group Ltd.</title>
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        <name>Franklin Institutional U.S. Government Money Market Fund</name>
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        <title>Franklin Institutional U.S. Government Money Market Fund</title>
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        <assetCat>STIV</assetCat>
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        <name>Coterra Energy, Inc.</name>
        <lei>FCNMH6O7VWU7LHXMK351</lei>
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        <name>Aclara Resources, Inc.</name>
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        <name>Precision Drilling Corp.</name>
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        <title>Precision Drilling Corp.</title>
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        <name>Badger Meter, Inc.</name>
        <lei>5493002JENE20OGTUG20</lei>
        <title>Badger Meter, Inc.</title>
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        <name>T1 Energy, Inc.</name>
        <lei>529900H0645VFXNMJ693</lei>
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        <name>Valterra Platinum Ltd.</name>
        <lei>529900RORCZ0E5S5FX81</lei>
        <title>Valterra Platinum Ltd.</title>
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        <invCountry>ZA</invCountry>
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        <name>Martin Marietta Materials, Inc.</name>
        <lei>5299005MZ4WZECVATV08</lei>
        <title>Martin Marietta Materials, Inc.</title>
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      <invstOrSec>
        <name>Occidental Petroleum Corp.</name>
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      <invstOrSec>
        <name>Oceaneering International, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Marathon Petroleum Corp.</name>
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        <name>South32 Ltd.</name>
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        <name>Baker Hughes Co.</name>
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        <name>EOG Resources, Inc.</name>
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        <name>Equinox Gold Corp.</name>
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        <name>Cameco Corp.</name>
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      <invstOrSec>
        <name>Technip Energies NV</name>
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        <name>Anglo American plc</name>
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        <name>Ivanhoe Mines Ltd.</name>
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        <name>Crown Holdings, Inc.</name>
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        <name>Albemarle Corp.</name>
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        <name>Franklin Institutional U.S. Government Money Market Fund</name>
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        <name>Kinder Morgan, Inc.</name>
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        <name>Lundin Mining Corp.</name>
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        <name>Targa Resources Corp.</name>
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        <name>Select Water Solutions, Inc.</name>
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        <name>MP Materials Corp.</name>
        <lei>89450063PHPS61USMT84</lei>
        <title>MP Materials Corp.</title>
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        <name>Agnico Eagle Mines Ltd.</name>
        <lei>254900BFJ2DOHPMEXN45</lei>
        <title>Agnico Eagle Mines Ltd.</title>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Suncor Energy, Inc.</name>
        <lei>894500XO86FKXQGPYV71</lei>
        <title>Suncor Energy, Inc.</title>
        <cusip>867224107</cusip>
        <identifiers>
          <isin value="CA8672241079"/>
          <other otherDesc="Inhouse Asset ID" value="450635"/>
        </identifiers>
        <balance>129300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.36165000"/>
        <valUSD>6834150.48000000</valUSD>
        <pctVal>1.517944669591</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Packaging Corp. of America</name>
        <lei>549300XZP8MFZFY8TJ84</lei>
        <title>Packaging Corp. of America</title>
        <cusip>695156109</cusip>
        <identifiers>
          <isin value="US6951561090"/>
          <other otherDesc="Inhouse Asset ID" value="182106"/>
        </identifiers>
        <balance>10400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2314520.00000000</valUSD>
        <pctVal>0.514081934096</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>Ivanhoe Electric, Inc.</name>
        <lei>N/A</lei>
        <title>Ivanhoe Electric, Inc.</title>
        <cusip>46578C108</cusip>
        <identifiers>
          <isin value="US46578C1080"/>
          <other otherDesc="Inhouse Asset ID" value="1202551"/>
        </identifiers>
        <balance>71100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1215099.00000000</valUSD>
        <pctVal>0.269887684720</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>Brazilian Rare Earths Ltd.</name>
        <lei>9845008972A00C4E4C60</lei>
        <title>Brazilian Rare Earths Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU0000305815"/>
          <other otherDesc="Inhouse Asset ID" value="1365641"/>
        </identifiers>
        <balance>581286.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.43605945"/>
        <valUSD>1538158.32000000</valUSD>
        <pctVal>0.341642934211</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Linde plc</name>
        <lei>5299003QR1WT0EF88V51</lei>
        <title>Linde plc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="IE000S9YS762"/>
          <other otherDesc="Inhouse Asset ID" value="1239901"/>
        </identifiers>
        <balance>17400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7951278.00000000</valUSD>
        <pctVal>1.766071743936</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>
    </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>2026-03-02</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>
