N-Q 1 tgit-nq1205.txt TEM. GLOBAL INVESTMENT TRUST QUARTERLY REPTS 12/31/05 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANIES Investment Company Act file number 811-08226 --------- TEMPLETON GLOBAL INVESTMENT TRUST -------------------------------------------------- (Exact name of registrant as specified in charter) 500 EAST BROWARD BLVD., SUITE 2100, FORT LAUDERDALE, FL 33394-3091 -------------------------------------------------------------------- (Address of principal executive offices) (Zip code) CRAIG S. TYLE, ONE FRANKLIN PARKWAY, SAN MATEO, CA 94403-1906 ------------------------------------------------------------------- (Name and address of agent for service) Registrant's telephone number, including area code: (954) 527-7500 -------------- Date of fiscal year end: 03/31 ----- Date of reporting period: 12/31/05 ---------- ITEM 1. SCHEDULE OF INVESTMENTS. TEMPLETON GLOBAL INVESTMENT TRUST QUARTERLY STATEMENTS OF INVESTMENTS DECEMBER 31, 2005 -------------------------------------------------------------------------------- CONTENTS Templeton International (Ex EM) Fund ....................................... 3 Templeton Income Fund ...................................................... 7 Franklin Templeton Non-U.S. Dynamic Core Equity Fund ....................... 17 Notes to Statements of Investments ......................................... 23 [LOGO](R) FRANKLIN TEMPLETON INVESTMENTS Franklin o TEMPLETON o Mutual Series Quarterly Statements of Investments | 1 This page intentionally left blank. TEMPLETON GLOBAL INVESTMENT TRUST STATEMENT OF INVESTMENTS, DECEMBER 31, 2005 (UNAUDITED)
--------------------------------------------------------------------------------------------------------- TEMPLETON INTERNATIONAL (EX EM) FUND INDUSTRY SHARES VALUE --------------------------------------------------------------------------------------------------------- COMMON STOCKS 92.5% AUSTRALIA 2.0% National Australia Bank Ltd. ....... Commercial Banks 32,795 $ 779,439 Qantas Airways Ltd. ................ Airlines 248,318 735,901 ---------- 1,515,340 ---------- BERMUDA 2.0% ACE Ltd. ........................... Insurance 15,790 843,818 XL Capital Ltd., A ................. Insurance 10,530 709,511 ---------- 1,553,329 ---------- CANADA 1.6% Barrick Gold Corp. ................. Metals & Mining 18,310 510,563 BCE Inc. ........................... Diversified Telecommunication Services 30,793 738,364 ---------- 1,248,927 ---------- DENMARK 1.1% (a)Vestas Wind Systems AS ............. Electrical Equipment 37,200 610,920 (a),(b)Vestas Wind Systems AS, 144A ....... Electrical Equipment 12,400 203,640 ---------- 814,560 ---------- FINLAND 2.3% Stora Enso OYJ, R .................. Paper & Forest Products 65,880 892,229 UPM-Kymmene OYJ .................... Paper & Forest Products 43,690 856,523 ---------- 1,748,752 ---------- FRANCE 6.0% AXA SA ............................. Insurance 32,714 1,055,738 France Telecom SA .................. Diversified Telecommunication Services 15,300 380,190 Sanofi-Aventis ..................... Pharmaceuticals 16,660 1,459,497 Suez SA ............................ Multi-Utilities 30,511 949,968 Total SA, B ........................ Oil, Gas & Consumable Fuels 2,900 728,517 ---------- 4,573,910 ---------- GERMANY 6.7% Adidas-Salomon AG .................. Textiles Apparel & Luxury Goods 2,150 408,110 BASF AG ............................ Chemicals 13,020 997,730 Bayerische Motoren Werke AG ........ Automobiles 8,550 374,511 Deutsche Post AG ................... Air Freight & Logistics 42,860 1,041,181 E.ON AG ............................ Electric Utilities 10,500 1,087,165 SAP AG ............................. Software 2,110 382,632 Siemens AG ......................... Industrial Conglomerates 9,500 813,915 ---------- 5,105,244 ---------- HONG KONG 5.4% Cheung Kong Holdings Ltd. .......... Real Estate 152,000 1,559,472 Fountain Set Holdings Ltd. ......... Textiles Apparel & Luxury Goods 860,000 396,523 Hutchison Whampoa Ltd. ............. Industrial Conglomerates 111,000 1,057,225 (a)Prosperity REIT .................... Real Estate 4,750 1,501 Swire Pacific Ltd., A .............. Real Estate 79,000 709,137 Yue Yuen Industrial Holdings Ltd. .. Textiles Apparel & Luxury Goods 133,000 371,367 ---------- 4,095,225 ----------
Quarterly Statements of Investments | 3 TEMPLETON GLOBAL INVESTMENT TRUST STATEMENT OF INVESTMENTS, DECEMBER 31, 2005 (UNAUDITED) (CONTINUED)
------------------------------------------------------------------------------------------------------------ TEMPLETON INTERNATIONAL (EX EM) FUND INDUSTRY SHARES VALUE ------------------------------------------------------------------------------------------------------------ COMMON STOCKS (CONTINUED) ITALY 3.0% Eni SpA ................................... Oil, Gas & Consumable Fuels 54,250 $1,504,765 UniCredito Italiano SpA ................... Commercial Banks 115,788 797,780 ---------- 2,302,545 ---------- JAPAN 11.6% Hitachi Ltd. .............................. Electronic Equipment & Instruments 179,000 1,205,668 Matsushita Electric Industrial Co. Ltd. ... Household Durables 42,000 809,540 NEC Corp. ................................. Computers & Peripherals 67,000 416,657 Nippon Telegraph & Telephone Corp. ........ Diversified Telecommunication Services 167 758,383 Nomura Holdings Inc. ...................... Capital Markets 41,000 785,055 Olympus Corp. ............................. Health Care Equipment & Supplies 16,337 429,083 Shinsei Bank Ltd. ......................... Commercial Banks 55,000 317,801 (b)Shinsei Bank Ltd., 144A ................... Commercial Banks 8,000 46,226 Sompo Japan Insurance Inc. ................ Insurance 68,000 918,919 SONY Corp. ................................ Household Durables 35,440 1,447,266 Sumitomo Mitsui Financial Group Inc. ...... Commercial Banks 61 646,022 Takeda Pharmaceutical Co. Ltd. ............ Pharmaceuticals 18,700 1,010,811 ---------- 8,791,431 ---------- NETHERLANDS 5.9% Akzo Nobel NV ............................. Chemicals 19,240 891,730 ING Groep NV .............................. Capital Markets 33,483 1,161,418 Koninklijke Philips Electronics NV ........ Household Durables 39,710 1,234,031 Reed Elsevier NV .......................... Media 27,900 389,747 VNU NV .................................... Media 25,619 849,517 ---------- 4,526,443 ---------- NORWAY 0.6% Norsk Hydro ASA ........................... Oil, Gas & Consumable Fuels 4,281 439,542 ---------- PORTUGAL 0.5% Portugal Telecom SGPS SA .................. Diversified Telecommunication Services 36,610 370,563 ---------- SINGAPORE 1.5% DBS Group Holdings Ltd. ................... Commercial Banks 64,000 635,016 Venture Corp. Ltd. ........................ Electronic Equipment & Instruments 60,000 497,910 ---------- 1,132,926 ---------- SPAIN 6.5% Banco Santander Central Hispano SA ........ Commercial Banks 57,842 763,510 (b)Banco Santander Central Hispano SA, 144A .. Commercial Banks 448 5,914 Endesa SA ................................. Electric Utilities 29,405 773,503 Iberdrola SA, Br. ......................... Electric Utilities 46,430 1,269,169 Repsol YPF SA ............................. Oil, Gas & Consumable Fuels 40,000 1,168,223 Telefonica SA ............................. Diversified Telecommunication Services 62,992 947,824 ---------- 4,928,143 ---------- SWEDEN 4.7% Atlas Copco AB, A ......................... Machinery 34,500 768,548 Electrolux AB, B .......................... Household Durables 17,450 453,518 ForeningsSparbanken AB, A ................. Commercial Banks 16,560 451,229
4 | Quarterly Statements of Investments TEMPLETON GLOBAL INVESTMENT TRUST STATEMENT OF INVESTMENTS, DECEMBER 31, 2005 (UNAUDITED) (CONTINUED)
------------------------------------------------------------------------------------------------------- TEMPLETON INTERNATIONAL (EX EM) FUND INDUSTRY SHARES VALUE ------------------------------------------------------------------------------------------------------- COMMON STOCKS (CONTINUED) SWEDEN (CONTINUED) Nordea Bank AB ....................... Commercial Banks 87,870 $ 912,375 Securitas AB, B ...................... Commercial Services & Supplies 59,130 982,337 ----------- 3,568,007 ----------- SWITZERLAND 5.0% Nestle SA ............................ Food Products 3,670 1,097,857 Novartis AG .......................... Pharmaceuticals 18,270 960,262 Swiss Reinsurance Co. ................ Insurance 13,120 960,719 UBS AG ............................... Capital Markets 8,450 804,639 ----------- 3,823,477 ----------- UNITED KINGDOM 26.1% Amvescap PLC ......................... Capital Markets 56,140 426,910 BAE Systems PLC ...................... Aerospace & Defense 189,372 1,243,761 BHP Billiton PLC ..................... Metals & Mining 48,709 795,694 Boots Group PLC ...................... Food & Staples Retailing 79,394 827,073 BP PLC ............................... Oil, Gas & Consumable Fuels 81,759 870,699 British Sky Broadcasting Group PLC ... Media 121,167 1,035,013 Burberry Group PLC ................... Textiles Apparel & Luxury Goods 53,050 392,232 Centrica PLC ......................... Multi-Utilities 174,080 762,966 Compass Group PLC .................... Hotels, Restaurants & Leisure 280,460 1,063,951 Electrocomponents PLC ................ Electronic Equipment & Instruments 82,870 400,632 GKN PLC .............................. Auto Components 78,958 391,229 GlaxoSmithKline PLC .................. Pharmaceuticals 62,829 1,587,903 HSBC Holdings PLC .................... Commercial Banks 43,374 696,454 Marks & Spencer Group PLC ............ Multiline Retail 84,425 733,507 Pearson PLC .......................... Media 61,215 724,057 Rentokil Initial PLC ................. Commercial Services & Supplies 252,670 710,744 (a)Rolls-Royce Group PLC ................ Aerospace & Defense 110,538 812,999 (a)Rolls-Royce Group PLC, B ............. Aerospace & Defense 3,691,969 6,511 Royal Bank of Scotland Group PLC ..... Commercial Banks 12,990 392,219 Royal Dutch Shell PLC, B ............. Oil, Gas & Consumable Fuels 29,186 932,958 Shire PLC ............................ Pharmaceuticals 70,700 904,970 Smiths Group PLC ..................... Industrial Conglomerates 44,990 809,636 Unilever PLC ......................... Food Products 84,401 837,122 Vodafone Group PLC ................... Wireless Telecommunication Services 527,560 1,139,089 William Morrison Supermarkets PLC .... Food & Staples Retailing 250,787 834,888 Yell Group PLC ....................... Media 52,380 483,479 ----------- 19,816,696 ----------- TOTAL COMMON STOCKS (COST $53,995,539) 70,355,060 -----------
Quarterly Statements of Investments | 5 TEMPLETON GLOBAL INVESTMENT TRUST STATEMENT OF INVESTMENTS, DECEMBER 31, 2005 (UNAUDITED) (CONTINUED)
--------------------------------------------------------------------------------------- PRINCIPAL TEMPLETON INTERNATIONAL (EX EM) FUND AMOUNT(c) VALUE --------------------------------------------------------------------------------------- FOREIGN GOVERNMENT AND AGENCY SECURITIES 1.3% AUSTRALIA 0.3% Queensland Treasury Corp., 6.00%, 8/14/13 ..... 330,000 AUD $ 251,478 ----------- NEW ZEALAND 0.4% Government of New Zealand, 6.50%, 4/15/13 ..... 380,000 NZD 271,851 ----------- SWEDEN 0.6% Government of Sweden, 6.50%, 5/05/08 ............................. 820,000 SEK 111,707 5.50%, 10/08/12 ............................ 2,300,000 SEK 328,811 ----------- 440,518 ----------- TOTAL FOREIGN GOVERNMENT AND AGENCY SECURITIES (COST $896,397) ............................. 963,847 ----------- SHORT TERM INVESTMENTS (COST $4,532,967) 5.9% UNITED STATES 5.9% (d)U.S. Treasury Bills, 2/02/06 - 3/30/06 ........ 4,563,000 4,534,301 ----------- TOTAL INVESTMENTS (COST $59,424,903) 99.7% .................... 75,853,208 OTHER ASSETS, LESS LIABILITIES 0.3% ........... 194,790 ----------- NET ASSETS 100.0% ............................. $76,047,998 ===========
SEE CURRENCY AND SELECTED PORTFOLIO ABBREVIATIONS ON PAGE 22. (a) Non-income producing. (b) Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional buyers or in a public offering registered under the Securities Act of 1933. These securities have been deemed liquid under guidelines approved by the Fund's Board of Trustees. At December 31, 2005, the aggregate value of these securities was $255,780, representing 0.34% of net assets. (c) The principal amount is stated in U.S. dollars unless otherwise indicated. (d) The security is traded on a discount basis with no stated coupon rate. 6 | See Notes to Statements of Investments. | Quarterly Statements of Investments TEMPLETON GLOBAL INVESTMENT TRUST STATEMENT OF INVESTMENTS, DECEMBER 31, 2005 (UNAUDITED)
-------------------------------------------------------------------------------------------------------------- TEMPLETON INCOME FUND INDUSTRY SHARES VALUE -------------------------------------------------------------------------------------------------------------- LONG TERM INVESTMENTS 93.8% COMMON STOCKS 51.2% AUSTRALIA 2.5% Alumina Ltd. .................... Metals & Mining 143,338 $ 780,181 National Australia Bank Ltd. .... Commercial Banks 43,389 1,031,227 Qantas Airways Ltd. ............. Airlines 155,297 460,229 ---------- 2,271,637 ---------- BELGIUM 0.5% Agfa Gevaert NV ................. Leisure Equipment & Products 25,610 467,207 ---------- BERMUDA 0.6% XL Capital Ltd., A .............. Insurance 8,200 552,516 ---------- CANADA 1.0% BCE Inc. ........................ Diversified Telecommunication Services 37,300 894,391 ---------- CHINA 0.8% Travelsky Technology Ltd., H .... IT Services 830,000 765,382 ---------- FINLAND 1.6% Stora Enso OYJ, R ............... Paper & Forest Products 56,100 759,776 UPM-Kymmene OYJ ................. Paper & Forest Products 37,680 738,700 ---------- 1,498,476 ---------- FRANCE 1.3% France Telecom SA ............... Diversified Telecommunication Services 9,520 236,563 Total SA, B ..................... Oil, Gas & Consumable Fuels 2,270 570,253 Valeo SA ........................ Auto Components 11,110 413,122 ---------- 1,219,938 ---------- GERMANY 2.2% BASF AG ......................... Chemicals 3,240 248,283 Deutsche Post AG ................ Air Freight & Logistics 32,260 783,680 E.ON AG ......................... Electric Utilities 5,900 610,883 Siemens AG ...................... Industrial Conglomerates 4,710 403,530 ---------- 2,046,376 ---------- HONG KONG 3.3% Bank of East Asia Ltd. .......... Commercial Banks 273,468 827,072 Cheung Kong Holdings Ltd. ....... Real Estate 8,000 82,077 Hopewell Holdings Ltd. .......... Transportation Infrastructure 250,000 627,124 Hutchison Whampoa Ltd. .......... Industrial Conglomerates 92,000 876,258 (a)Prosperity REIT ................. Real Estate 250 79 Yue Yuen Industrial Holdings Ltd. Textiles Apparel & Luxury Goods 208,500 582,181 ---------- 2,994,791 ---------- ITALY 2.7% Eni SpA ......................... Oil, Gas & Consumable Fuels 44,907 1,245,613 UniCredito Italiano SpA ......... Commercial Banks 179,836 1,239,071 ---------- 2,484,684 ----------
Quarterly Statements of Investments | 7 TEMPLETON GLOBAL INVESTMENT TRUST STATEMENT OF INVESTMENTS, DECEMBER 31, 2005 (UNAUDITED) (CONTINUED)
---------------------------------------------------------------------------------------------------------------------------- TEMPLETON INCOME FUND INDUSTRY SHARES VALUE ---------------------------------------------------------------------------------------------------------------------------- LONG TERM INVESTMENTS (CONTINUED) COMMON STOCKS (CONTINUED) JAPAN 1.7% Nintendo Co. Ltd. ........................... Software 6,300 $ 760,612 Takeda Pharmaceutical Co. Ltd. .............. Pharmaceuticals 6,600 356,757 Tamron Co. Ltd. ............................. Leisure Equipment & Products 33,000 453,774 ---------- 1,571,143 ---------- MEXICO 0.8% Telefonos de Mexico SA de CV (Telmex), L, ADR Diversified Telecommunication Services 30,500 752,740 ---------- NETHERLANDS 3.2% Akzo Nobel NV ............................... Chemicals 16,360 758,249 ING Groep NV ................................ Capital Markets 22,630 784,962 Unilever NV ................................. Food Products 12,220 836,896 VNU NV ...................................... Media 17,120 567,693 ---------- 2,947,800 ---------- PORTUGAL 0.7% Portugal Telecom SGPS SA .................... Diversified Telecommunication Services 60,570 613,085 ---------- SINGAPORE 0.6% Venture Corp. Ltd. .......................... Electronic Equipment & Instruments 64,000 531,104 ---------- SOUTH AFRICA 1.5% Old Mutual PLC .............................. Insurance 330,420 936,556 Sappi Ltd., ADR ............................. Paper & Forest Products 35,870 406,407 ---------- 1,342,963 ---------- SOUTH KOREA 0.8% Shinhan Financial Group Co. Ltd. ............ Commercial Banks 17,590 716,694 ---------- SPAIN 0.5% Gamesa Corp. Tecnologica SA ................. Diversified Telecommunication Services 800 11,706 (b)Gamesa Corp. Tecnologica SA, 144A ........... Diversified Telecommunication Services 27,687 405,127 ---------- 416,833 ---------- SWEDEN 1.3% Electrolux AB, B ............................ Household Durables 11,880 308,756 Nordea Bank AB .............................. Commercial Banks 57,970 601,916 Securitas AB, B ............................. Commercial Services & Supplies 16,420 272,788 ---------- 1,183,460 ---------- TAIWAN 3.2% Chunghwa Telecom Co. Ltd., ADR .............. Diversified Telecommunication Services 33,148 608,266 Compal Electronics Inc. ..................... Computers & Peripherals 739,000 666,364 (b)Compal Electronics Inc., GDR, 144A .......... Computers & Peripherals 3,223 16,373 Lite-On Technology Corp. .................... Computers & Peripherals 464,960 633,846 Mega Financial Holdings Co. Ltd. ............ Commercial Banks 1,496,000 972,982 ---------- 2,897,831 ---------- THAILAND 0.8% Krung Thai Bank Public Co. Ltd., fgn. ....... Commercial Banks 2,467,100 697,583 ----------
8 | Quarterly Statements of Investments TEMPLETON GLOBAL INVESTMENT TRUST STATEMENT OF INVESTMENTS, DECEMBER 31, 2005 (UNAUDITED) (CONTINUED)
-------------------------------------------------------------------------------------------------------------------------- TEMPLETON INCOME FUND INDUSTRY SHARES VALUE -------------------------------------------------------------------------------------------------------------------------- LONG TERM INVESTMENTS (CONTINUED) COMMON STOCKS (CONTINUED) UNITED KINGDOM 12.9% Boots Group PLC ............................ Food & Staples Retailing 70,440 $ 733,796 BP PLC ..................................... Oil, Gas & Consumable Fuels 98,068 1,044,384 Cadbury Schweppes PLC ...................... Food Products 37,125 350,975 Centrica PLC ............................... Multi-Utilities 188,040 824,150 Compass Group PLC .......................... Hotels, Restaurants & Leisure 342,420 1,299,002 Electrocomponents PLC ...................... Electronic Equipment & Instruments 104,880 507,039 Game Group PLC ............................. Specialty Retail 10,716 13,182 GlaxoSmithKline PLC ........................ Pharmaceuticals 42,750 1,080,438 HSBC Holdings PLC .......................... Commercial Banks 50,862 816,689 Marks & Spencer Group PLC .................. Multiline Retail 44,960 390,625 Pearson PLC ................................ Media 57,670 682,126 (a)Rolls-Royce Group PLC ...................... Aerospace & Defense 19,720 145,039 (a)Rolls-Royce Group PLC, B ................... Aerospace & Defense 658,648 1,162 Royal Bank of Scotland Group PLC ........... Commercial Banks 29,353 886,281 Royal Dutch Shell PLC, B ................... Oil, Gas & Consumable Fuels 37,561 1,200,673 Tesco PLC .................................. Food & Staples Retailing 67,677 385,982 Vodafone Group PLC ......................... Wireless Telecommunication Services 414,720 895,449 Yule Catto & Company PLC ................... Chemicals 118,238 535,001 ----------- 11,791,993 ----------- UNITED STATES 6.7% Bank of America Corp. ...................... Commercial Banks 23,610 1,089,602 Bristol-Myers Squibb Co. ................... Pharmaceuticals 38,640 887,947 Dow Chemical Co. ........................... Chemicals 24,187 1,059,874 JPMorgan Chase & Co. ....................... Diversified Financial Services 27,916 1,107,986 Merck & Co. Inc. ........................... Pharmaceuticals 36,926 1,174,616 Pfizer Inc. ................................ Pharmaceuticals 13,112 305,772 Pier 1 Imports Inc. ........................ Specialty Retail 62,990 549,903 ----------- 6,175,700 ----------- TOTAL COMMON STOCKS (COST $45,991,929) ..... 46,834,327 ----------- PREFERRED STOCKS 1.5% BRAZIL 1.5% Cia Vale do Rio Doce, ADR, pfd., A ......... Metals & Mining 20,370 738,412 Tele Norte Leste Participacoes SA, ADR, pfd. Diversified Telecommunication Services 36,230 649,242 ----------- TOTAL PREFERRED STOCKS (COST $1,206,417) ... 1,387,654 ----------- ----------- PRINCIPAL AMOUNT(c) ----------- CORPORATE BONDS & NOTES 7.7% BERMUDA 0.1% (b)Intelsat Bermuda Ltd., senior note, 144A, 8.25%, 1/15/13 ............................ 100,000 101,500 -----------
Quarterly Statements of Investments | 9 TEMPLETON GLOBAL INVESTMENT TRUST STATEMENT OF INVESTMENTS, DECEMBER 31, 2005 (UNAUDITED) (CONTINUED)
---------------------------------------------------------------------------------------- PRINCIPAL TEMPLETON INCOME FUND AMOUNT(c) VALUE ---------------------------------------------------------------------------------------- LONG TERM INVESTMENTS (CONTINUED) CORPORATE BONDS & NOTES (CONTINUED) CANADA 0.3% Abitibi-Consolidated Co. of Canada, senior note, 8.375%, 4/01/15 ....................................... 50,000 $ 48,125 (b)Novelis Inc., senior note, 144A, 7.25%, 2/15/15 ........ 150,000 140,625 Rogers Wireless Inc., senior secured note, 7.25%, 12/15/12 ....................................... 100,000 105,625 -------- 294,375 -------- FRANCE 0.2% Legrand Holding SA, senior note, 10.50%, 2/15/13 ....... 50,000 56,750 Rhodia SA, senior note, 10.25%, 6/01/10 ................ 100,000 110,000 -------- 166,750 -------- IRISH REPUBLIC 0.1% JSG Funding PLC, senior sub. note, 7.75%, 4/01/15 ...... 100,000 83,500 -------- ITALY 0.1% (b)Wind Acquisition Fin SA, senior note, 144A, 10.75%, 12/01/15 ...................................... 100,000 103,750 -------- LUXEMBOURG 0.2% Millicom International Cellular SA, senior note, 10.00%, 12/01/13 ...................................... 100,000 103,750 (b)Nell AF Sarl, senior note, 144A, 8.375%, 8/15/15 ....... 100,000 99,500 -------- 203,250 -------- SINGAPORE 0.1% Flextronics International Ltd., senior sub. note, 6.50%, 5/15/13 ........................................ 50,000 51,063 -------- UNITED KINGDOM 0.1% Inmarsat Finance PLC, senior note, zero cpn. to 11/15/08, 10.375% thereafter, 11/15/12 .......................... 100,000 83,875 (b)Invensys PLC, senior note, 144A, 9.875%, 3/15/11 ....... 50,000 49,750 -------- 133,625 -------- UNITED STATES 6.5% Advanstar Communications Inc., senior secured note, 10.75%, 8/15/10 ....................................... 50,000 55,062 (b)Allegheny Energy Supply Co. LLC, 144A, 8.25%, 4/15/12 ........................................ 50,000 56,625 Allied Waste North America Inc., senior secured note, B, 5.75%, 2/15/11 ........................................ 150,000 142,875 AMC Entertainment Inc., senior sub. note, 9.875%, 2/01/12 ....................................... 100,000 98,500 Aquila Inc., senior note, 7.95%, 2/01/11 ............... 50,000 55,375 BCP Crystal Holdings Corp., senior sub. note, 9.625%, 6/15/14 ....................................... 100,000 111,750 Boyd Gaming Corp., senior sub. note, 6.75%, 4/15/14 ........................................ 50,000 49,875
10 | Quarterly Statements of Investments TEMPLETON GLOBAL INVESTMENT TRUST STATEMENT OF INVESTMENTS, DECEMBER 31, 2005 (UNAUDITED) (CONTINUED)
---------------------------------------------------------------------------------------- PRINCIPAL TEMPLETON INCOME FUND AMOUNT(c) VALUE ---------------------------------------------------------------------------------------- LONG TERM INVESTMENTS (CONTINUED) CORPORATE BONDS & NOTES (CONTINUED) UNITED STATES (CONTINUED) Cablevision Systems Corp., senior note, B, 8.00%, 4/15/12 ........................................ 50,000 $ 47,000 (b)Calpine Corp., senior secured note, 144A, 8.50%, 7/15/10 ........................................ 100,000 82,500 Case New Holland Inc., senior note, 9.25%, 8/01/11 ........................................ 100,000 107,500 CCH II LLC, senior note, 10.25%, 9/15/10 ............... 150,000 150,000 Chesapeake Energy Corp., senior note, 6.25%, 1/15/18 ........................................ 150,000 147,750 (b)Commercial Vehicle Group Inc., senior note, 144A, 8.00%, 7/01/13 ........................................ 50,000 49,625 (b)Crown Americas Inc., senior note, 144A, 7.75%, 11/15/15 ....................................... 100,000 104,000 CSC Holdings Inc., senior deb., 7.625%, 7/15/18 ........ 50,000 47,750 D.R. Horton Inc., senior note, 7.875%, 8/15/11 ......... 150,000 164,132 DaVita Inc., senior sub. note, 7.25%, 3/15/15 .......... 50,000 50,875 Dex Media West LLC, senior sub. note, 9.875%, 8/15/13 ....................................... 100,000 111,500 DIRECTV Holdings LLC, senior note, 6.375%, 6/15/15 ..... 100,000 98,250 Dobson Cellular Systems Inc., senior secured note, 9.875%, 11/01/12 ...................................... 50,000 55,375 (b)Dynegy Holdings Inc., senior secured note, 144A, 10.125%, 7/15/13 ...................................... 100,000 113,500 EchoStar DBS Corp., senior note, 6.375%, 10/01/11 ...... 100,000 96,750 El Paso Corp., senior note, 7.875%, 6/15/12 ............ 150,000 155,250 El Paso Natural Gas Co., senior note, A, 7.625%, 8/01/10 ....................................... 50,000 52,829 Emmis Operating Co., senior sub. note, 6.875%, 5/15/12 ....................................... 50,000 49,938 Forest City Enterprises Inc., senior note, 7.625%, 6/01/15 ....................................... 50,000 53,250 Fresenius Medical Care Capital Trust, 7.875%, 6/15/11 ....................................... 50,000 53,500 General Motors Acceptance Corp., 6.875%, 8/28/12 ..................................... 200,000 180,499 6.875%, 9/15/11 ..................................... 50,000 45,649 (b)Grant Prideco Inc., senior note, 144A, 6.125%, 8/15/15 ....................................... 50,000 50,125 Graphic Packaging International Corp., 8.50%, 8/15/11 ........................................ 50,000 50,375 (b)GSC Holdings Corp., senior note, 144A, 8.00%, 10/01/12 ....................................... 100,000 94,500 HCA Inc., senior note, 8.75%, 9/01/10 .................. 75,000 83,325 (b)Hertz Corp., senior note, 144A, 8.875%, 1/01/14 ........ 75,000 76,781
Quarterly Statements of Investments | 11 TEMPLETON GLOBAL INVESTMENT TRUST STATEMENT OF INVESTMENTS, DECEMBER 31, 2005 (UNAUDITED) (CONTINUED)
--------------------------------------------------------------------------------------- PRINCIPAL TEMPLETON INCOME FUND AMOUNT(c) VALUE --------------------------------------------------------------------------------------- LONG TERM INVESTMENTS (CONTINUED) CORPORATE BONDS & NOTES (CONTINUED) UNITED STATES (CONTINUED) Host Marriott LP, senior note, M, 7.00%, 8/15/12 ....... 150,000 $154,500 JohnsonDiversey Inc., senior sub. note, B, 9.625%, 5/15/12 ....................................... 100,000 101,000 L-3 Communications Corp., (b)senior sub. note, 144A, 6.375%, 10/15/15 ............... 100,000 100,250 senior sub. note, 5.875%, 1/15/15 ................... 50,000 48,750 Lamar Media Corp., senior sub. note, 6.625%, 8/15/15 ....................................... 50,000 50,438 Liberty Media Corp., senior note, 5.70%, 5/15/13 ....... 150,000 140,514 LIN Television Corp., senior sub. note, 6.50%, 5/15/13 ........................................ 100,000 96,375 (b)Markwest Energy Partners LP, senior note, 144A, 6.875%, 11/01/14 ...................................... 50,000 46,250 (b)Massey Energy Co., senior note, 144A, 6.875%, 12/15/13 ...................................... 100,000 101,375 MCI Inc., senior note, 6.688%, 5/01/09 ................. 50,000 51,750 MGM MIRAGE Inc., 6.625%, 7/15/15 ....................... 150,000 150,375 Midwest Generation LLC, senior secured note, 8.75%, 5/01/34 ........................................ 50,000 55,312 (b)Mirant North America LLC, senior note, 144A, 7.375%, 12/31/13 ...................................... 100,000 101,625 Nalco Co., senior sub. note, 8.875%, 11/15/13 .......... 100,000 105,250 Nortek Inc., senior sub. note, 8.50%, 9/01/14 .......... 100,000 97,000 Owens-Brockway Glass Container Inc., senior note, 6.75%, 12/01/14 ....................................... 100,000 97,500 Peabody Energy Corp., senior note, B, 6.875%, 3/15/13 ....................................... 50,000 52,250 Pinnacle Entertainment Inc., senior sub. note, 8.75%, 10/01/13 ....................................... 100,000 107,000 Plains Exploration & Production Co., senior note, 7.125%, 6/15/14 ....................................... 50,000 52,000 (b)Pogo Producing Co., senior sub. note, 144A, 6.875%, 10/01/17 ...................................... 50,000 49,000 (d)Qwest Communications International Inc., senior note, FRN, 7.50%, 2/15/14 ...................... 100,000 103,250 Rite Aid Corp., senior note, 9.25%, 6/01/13 ............ 50,000 46,938 Royal Caribbean Cruises Ltd., senior deb., 7.25%, 3/15/18 ........................................ 100,000 106,875 Simmons Co., senior sub. note, 7.875%, 1/15/14 ......... 50,000 46,500 Smithfield Foods Inc., senior note, 7.00%, 8/01/11 ..... 100,000 102,500 Spectrum Brands Inc., senior sub. note, 7.375%, 2/01/15 ....................................... 100,000 84,000 Station Casinos Inc., senior sub. note, 6.875%, 3/01/16 ....................................... 100,000 102,750 (b)SunGard Data Systems Inc., senior note, 144A, 9.125%, 8/15/13 ....................................... 100,000 104,000
12 | Quarterly Statements of Investments TEMPLETON GLOBAL INVESTMENT TRUST STATEMENT OF INVESTMENTS, DECEMBER 31, 2005 (UNAUDITED) (CONTINUED)
--------------------------------------------------------------------------------------------------- PRINCIPAL TEMPLETON INCOME FUND AMOUNT(c) VALUE --------------------------------------------------------------------------------------------------- LONG TERM INVESTMENTS (CONTINUED) CORPORATE BONDS & NOTES (CONTINUED) UNITED STATES (CONTINUED) Tenet Healthcare Corp., senior note, 6.375%, 12/01/11 .................................. 50,000 $ 45,875 (b)Texas Genco LLC, senior note, 144A, 6.875%, 12/15/14 .................................. 50,000 54,375 TRW Automotive Inc., senior note, 9.375%, 2/15/13 ................................... 50,000 54,375 TXU Corp., senior note, 5.55%, 11/15/14 ............. 150,000 143,225 UGS Corp., senior sub. note, 10.00%, 6/01/12 ........ 50,000 54,750 Vanguard Health Holding Co. II LLC, senior sub. note, 9.00%, 10/01/14 ................................... 50,000 53,375 William Lyon Homes Inc., senior note, 7.625%, 12/15/12 .......................................... 50,000 44,375 Xerox Corp., senior note, 7.125%, 6/15/10 ........... 50,000 52,312 ---------- 5,900,579 ---------- TOTAL CORPORATE BONDS & NOTES (COST $7,056,286) ................................. 7,038,392 ---------- FOREIGN GOVERNMENT AND AGENCY SECURITIES 33.4% ARGENTINA 3.0% (d),(e)Government of Argentina, FRN, 4.005%, 8/03/12 ....... 3,620,000 2,793,512 ---------- AUSTRALIA 1.7% New South Wales Treasury Corp., 6.50%, 5/01/06 ................................... 90,000 AUD 66,231 8.00%, 3/01/08 ................................... 845,000 AUD 651,760 Queensland Treasury Corp., 6.00%, 8/14/13 ................................... 350,000 AUD 266,720 6.00%, 10/14/15 .................................. 745,000 AUD 569,409 ---------- 1,554,120 ---------- AUSTRIA 2.8% Government of Austria, 9.00%, 9/15/06 ................................... 157,000,000 ISK 2,489,182 5.00%, 7/15/12 ................................... 5,000 EUR 6,554 4.65%, 1/15/18 ................................... 55,000 EUR 73,319 ---------- 2,569,055 ---------- BRAZIL 0.1% (d)Government of Brazil, FRN, 5.25%, 4/15/12 ........... 137,650 136,273 ---------- CANADA 3.7% Government of Canada, 7.00%, 12/01/06 .................................. 250,000 CAD 221,087 6.00%, 6/01/08 ................................... 315,000 CAD 284,221 10.00%, 6/01/08 .................................. 2,250,000 CAD 2,206,018 Province of Ontario, 7.75%, 7/24/06 ................. 760,000 CAD 668,163 ---------- 3,379,489 ----------
Quarterly Statements of Investments | 13 TEMPLETON GLOBAL INVESTMENT TRUST STATEMENT OF INVESTMENTS, DECEMBER 31, 2005 (UNAUDITED) (CONTINUED)
----------------------------------------------------------------------------------------------- PRINCIPAL TEMPLETON INCOME FUND AMOUNT(c) VALUE ----------------------------------------------------------------------------------------------- LONG TERM INVESTMENTS (CONTINUED) FOREIGN GOVERNMENT AND AGENCY SECURITIES (CONTINUED) FINLAND 0.0%(f) Government of Finland, 5.375%, 7/04/13 ................ 10,000 EUR $ 13,609 ---------- FRANCE 0.2% Government of France, 4.25%, 04/25/19 .................................... 25,000 EUR 32,191 6.00%, 10/25/25 .................................... 70,000 EUR 111,538 ---------- 143,729 ---------- GERMANY 0.0%(f) Government of Germany, 3.75%, 7/04/13 .............. 15,000 EUR 18,394 ---------- GREECE 0.0%(f) Government of the Hellenic Republic, 4.60%, 5/20/13 ..................................... 5,000 EUR 6,392 5.90%, 10/22/22 .................................... 5,000 EUR 7,493 ---------- 13,885 ---------- ICELAND 0.5% Inter-American Development Bank, 9.00%, 1/04/07 ....... 28,500,000 ISK 452,603 ---------- INDONESIA 3.9% Government of Indonesia, 13.15%, 3/15/10 .................................... 500,000,000 IDR 50,648 15.425%, 9/15/10 ................................... 1,550,000,000 IDR 169,440 10.00%, 10/15/11 ................................... 3,375,000,000 IDR 297,366 13.15%, 1/15/12 .................................... 2,700,000,000 IDR 272,060 11.00%, 12/15/12 ................................... 100,000,000 IDR 9,051 14.25%, 6/15/13 .................................... 10,805,000,000 IDR 1,138,889 14.275%, 12/15/13 .................................. 2,615,000,000 IDR 276,616 11.00%, 10/15/14 ................................... 980,000,000 IDR 86,477 9.50%, 6/15/15 ..................................... 4,937,000,000 IDR 395,010 10.75%, 5/15/16 .................................... 3,050,000,000 IDR 258,809 10.00%, 7/15/17 .................................... 4,156,000,000 IDR 329,871 11.00%, 11/15/20 ................................... 3,800,000,000 IDR 314,186 ---------- 3,598,423 ---------- IRELAND 0.0%(f) Government of Ireland, 5.00%, 4/18/13 ..................................... 5,000 EUR 6,613 4.60%, 4/18/16 ..................................... 5,000 EUR 6,566 ---------- 13,179 ---------- MALAYSIA 1.1% Government of Malaysia, 8.60%, 12/01/07 .................................... 1,200,000 MYR 347,744 6.45%, 7/01/08 ..................................... 2,075,000 MYR 587,720 4.305%, 2/27/09 .................................... 285,000 MYR 76,979 ---------- 1,012,443 ----------
14 | Quarterly Statements of Investments TEMPLETON GLOBAL INVESTMENT TRUST STATEMENT OF INVESTMENTS, DECEMBER 31, 2005 (UNAUDITED) (CONTINUED)
----------------------------------------------------------------------------------------------- PRINCIPAL TEMPLETON INCOME FUND AMOUNT(c) VALUE ----------------------------------------------------------------------------------------------- LONG TERM INVESTMENTS (CONTINUED) FOREIGN GOVERNMENT AND AGENCY SECURITIES (CONTINUED) MEXICO 0.1% (b)Government of Mexico, 144A, 7.50%, 3/08/10 ......... 45,000 EUR $ 60,729 ---------- NETHERLANDS 0.0%(f) Government of the Netherlands, 4.25%, 7/15/13 ...... 5,000 EUR 6,330 ---------- NEW ZEALAND 0.6% Government of New Zealand, 6.00%, 4/15/15 .......... 830,000 NZD 579,164 ---------- NORWAY 2.4% Government of Norway, 6.75%, 1/15/07 ............... 14,310,000 NOK 2,203,926 ---------- PERU 2.0% Government of Peru, Series 7, 8.60%, 8/12/17 ........................ 4,830,000 PEN 1,443,659 7.84%, 8/12/20 .................................. 1,315,000 PEN 368,189 ---------- 1,811,848 ---------- PHILIPPINES 0.3% Government of the Philippines, 9.00%, 2/15/13 .................................. 20,000 22,225 8.875%, 3/17/15 ................................. 205,000 226,658 ---------- 248,883 ---------- POLAND 4.1% Government of Poland, 8.50%, 11/12/06 ................................. 660,000 PLN 209,967 8.50%, 5/12/07 .................................. 3,605,000 PLN 1,166,864 6.00%, 5/24/09 .................................. 2,265,000 PLN 722,032 6.25%, 10/24/15 ................................. 855,000 PLN 286,241 5.75%, 9/23/22 .................................. 4,075,000 PLN 1,338,722 ---------- 3,723,826 ---------- SINGAPORE 0.6% Government of Singapore, 4.00%, 3/01/07 ............ 850,000 SGD 520,775 ---------- SLOVAK REPUBLIC 0.9% Government of Slovakia, 8.50%, 8/17/10 .................................. 10,000,000 SKK 378,009 4.90%, 2/11/14 .................................. 3,500,000 SKK 119,173 5.30%, 5/12/19 .................................. 9,200,000 SKK 330,349 ---------- 827,531 ---------- SOUTH KOREA 3.4% Government of Korea, 4.75%, 3/03/07 .................................. 2,100,000,000 KRW 2,083,263 4.75%, 3/12/08 .................................. 1,025,000,000 KRW 1,011,301 ---------- 3,094,564 ----------
Quarterly Statements of Investments | 15 TEMPLETON GLOBAL INVESTMENT TRUST STATEMENT OF INVESTMENTS, DECEMBER 31, 2005 (UNAUDITED) (CONTINUED)
---------------------------------------------------------------------------------------------- SHARES/PRINCIPAL TEMPLETON INCOME FUND AMOUNT(c) VALUE ----------------------------------------------------------------------------------------------- LONG TERM INVESTMENTS (CONTINUED) FOREIGN GOVERNMENT AND AGENCY SECURITIES (CONTINUED) SPAIN 0.3% Government of Spain, 7.35%, 3/31/07 ................ 210,000 EUR $ 262,098 ------------- SWEDEN 0.7% Government of Sweden, 8.00%, 8/15/07 .................................. 4,790,000 SEK 654,160 Strip, 9/20/06 .................................. 120,000 SEK 14,861 ------------- 669,021 ------------- THAILAND 1.0% Government of Thailand, 8.00%, 12/08/06 ............ 35,000,000 THB 884,790 ------------- TOTAL FOREIGN GOVERNMENT AND AGENCY SECURITIES (COST $30,952,660) ................................ 30,592,199 ------------- TOTAL LONG TERM INVESTMENTS (COST $85,207,292) ................................ 85,852,572 ------------- SHORT TERM INVESTMENTS 7.4% UNITED STATES 4.9% (g)Franklin Institutional Fiduciary Trust Money Market Portfolio ................................... 4,506,369 4,506,369 ------------- EGYPT 2.5% (h)Egypt Treasury Bills, 5/30/06 - 12/05/06 ........... 13,400,000 EGP 2,223,143 ------------- TOTAL SHORT TERM INVESTMENTS (COST $6,716,663) ................................. 6,729,512 ------------- TOTAL INVESTMENTS (COST $91,923,955) 101.2% ........................ 92,582,084 NET UNREALIZED GAIN ON FORWARD EXCHANGE CONTRACTS 0.1% ........................... 81,470 OTHER ASSETS, LESS LIABILITIES (1.3)% .............. (1,091,785) ------------- NET ASSETS 100.0% .................................. $ 91,571,769 =============
SEE CURRENCY AND SELECTED PORTFOLIO ABBREVIATIONS ON PAGE 22. (a) Non-income producing. (b) Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional buyers or in a public offering registered under the Securities Act of 1933. These securities have been deemed liquid under guidelines approved by the Fund's Board of Directors. At December 31, 2005, the aggregate value of these securities was $2,161,885, representing 2.36% of net assets. (c) The principal amount is stated in U.S. dollars unless otherwise indicated. (d) The coupon shown represents the rate at period end. (e) The principal amount is stated in original face, and scheduled paydowns are reflected in the market price on ex-date. (f) Rounds to less than 0.05% of net assets. (g) The Franklin Institutional Fiduciary Trust Money Market Portfolio is managed by an affiliate of the Fund's investment manager. (h) The security is traded on a discount basis with no stated coupon rate. 16 | See Notes to Statements of Investments. | Quarterly Statements of Investments TEMPLETON GLOBAL INVESTMENT TRUST STATEMENT OF INVESTMENTS, DECEMBER 31, 2005 (UNAUDITED)
----------------------------------------------------------------------------------------------------------------------------------- FRANKLIN TEMPLETON NON-U.S. DYNAMIC CORE EQUITY FUND INDUSTRY SHARES VALUE ----------------------------------------------------------------------------------------------------------------------------------- COMMON STOCKS 108.0% AUSTRALIA 5.7% Aristocrat Leisure Ltd. ............................ Hotels, Restaurants & Leisure 2,000 $ 18,075 CSL Ltd. ........................................... Biotechnology 600 18,705 Macquarie Bank Ltd. ................................ Capital Markets 600 29,995 Qantas Airways Ltd. ................................ Airlines 5,615 16,640 QBE Insurance Group Ltd. ........................... Insurance 1,200 17,253 Sonic Healthcare Ltd. .............................. Health Care Providers & Services 3,000 32,570 St. George Bank Ltd. ............................... Commercial Banks 1,500 32,636 -------- 165,874 -------- AUSTRIA 1.1% Erste Bank der Oester Sparkassen AG ................ Commercial Banks 600 33,420 -------- BERMUDA 0.5% ACE Ltd. ........................................... Insurance 260 13,894 -------- BRAZIL 0.7% Companhia Siderurgica Nacional SA, ADR ............. Metals & Mining 900 19,260 -------- CANADA 4.4% Alcan Inc. ......................................... Metals & Mining 280 11,506 BCE Inc. ........................................... Diversified Telecommunication Services 920 22,060 Cameco Corp. ....................................... Oil, Gas & Consumable Fuels 600 38,092 (a)Cognos Inc. ........................................ Software 800 27,910 Encana Corp. ....................................... Oil, Gas & Consumable Fuels 200 9,044 Talisman Energy Inc. ............................... Oil, Gas & Consumable Fuels 350 18,549 -------- 127,161 -------- CHINA 1.7% China Mobile (Hong Kong) Ltd., fgn. ................ Wireless Telecommunication Services 7,500 35,499 Huaneng Power International Inc., H ................ Independent Power Producers & Energy Traders 20,000 13,155 -------- 48,654 -------- DENMARK 0.7% TDC AS ............................................. Diversified Telecommunication Services 170 10,183 (a)Vestas Wind Systems AS ............................. Electrical Equipment 430 7,062 (a),(b)Vestas Wind Systems AS, 144A ....................... Electrical Equipment 136 2,233 -------- 19,478 -------- FINLAND 1.1% Stora Enso OYJ, R .................................. Paper & Forest Products 2,470 33,452 -------- FRANCE 5.7% Accor SA ........................................... Hotels, Restaurants & Leisure 154 8,470 AXA SA ............................................. Insurance 683 22,042 Essilor International SA ........................... Health Care Equipment & Supplies 200 16,148 France Telecom SA .................................. Diversified Telecommunication Services 840 20,873 Michelin SA, B ..................................... Auto Components 496 27,880 Sanofi-Aventis ..................................... Pharmaceuticals 377 33,027 Suez SA ............................................ Multi-Utilities 1,272 39,604 -------- 168,044 --------
Quarterly Statements of Investments | 17 TEMPLETON GLOBAL INVESTMENT TRUST STATEMENT OF INVESTMENTS, DECEMBER 31, 2005 (UNAUDITED) (CONTINUED)
------------------------------------------------------------------------------------------------------------------------------ FRANKLIN TEMPLETON NON-U.S. DYNAMIC CORE EQUITY FUND INDUSTRY SHARES VALUE ------------------------------------------------------------------------------------------------------------------------------ COMMON STOCKS (CONTINUED) GERMANY 8.5% BASF AG ............................................ Chemicals 88 $ 6,743 Bayer AG, Br. ...................................... Chemicals 186 7,757 Bayerische Motoren Werke AG ........................ Automobiles 512 22,427 Celesio AG ......................................... Health Care Providers & Services 665 57,061 Deutsche Post AG ................................... Air Freight & Logistics 2,008 48,779 E.ON AG ............................................ Electric Utilities 291 30,130 Puma AG Rudolf Dassler Sport ....................... Textiles Apparel & Luxury Goods 100 29,206 SAP AG ............................................. Software 150 27,201 Siemens AG ......................................... Industrial Conglomerates 220 18,849 -------- 248,153 -------- GREECE 1.2% National Bank of Greece SA ......................... Commercial Banks 800 34,095 -------- HONG KONG 4.5% Esprit Holdings Ltd. ............................... Specialty Retail 6,000 42,638 Noble Group Ltd. ................................... Trading Companies & Distributors 10,000 7,697 Sun Hung Kai Properties Ltd. ....................... Real Estate 3,500 34,081 Swire Pacific Ltd., A .............................. Real Estate 3,414 30,645 Television Broadcasts Ltd. ......................... Media 3,000 15,941 -------- 131,002 -------- IRELAND 1.3% Anglo Irish Bank Corp. PLC ......................... Commercial Banks 2,500 37,972 -------- ISRAEL 2.2% (a)Check Point Software Technologies Ltd. ............. Software 1,240 24,924 Teva Pharmaceutical Industries Ltd., ADR ........... Pharmaceuticals 900 38,709 -------- 63,633 -------- ITALY 3.1% Eni SpA ............................................ Oil, Gas & Consumable Fuels 653 18,113 Luxottica Group SpA, ADR ........................... Textiles Apparel & Luxury Goods 900 22,779 Saipem SpA ......................................... Energy Equipment & Services 2,500 41,020 UniCredito Italiano SpA ............................ Commercial Banks 1,395 9,612 -------- 91,524 -------- JAPAN 11.3% Aiful Corp. ........................................ Consumer Finance 600 50,072 Asahi Glass Co. Ltd. ............................... Building Products 3,500 45,162 Fast Retailing Co. Ltd. ............................ Specialty Retail 400 39,075 Mabuchi Motor Co. Ltd. ............................. Electronic Equipment & Instruments 200 11,099 Mitsui Fudosan Co. Ltd. ............................ Real Estate 3,600 73,049 Nintendo Co. Ltd. .................................. Software 200 24,147 Nippon Telegraph & Telephone Corp. ................. Diversified Telecommunication Services 8 36,330 Seiko Epson Corp. .................................. Computers & Peripherals 300 7,536 Sompo Japan Insurance Inc. ......................... Insurance 2,000 27,027 Takeda Pharmaceutical Co. Ltd. ..................... Pharmaceuticals 300 16,216 -------- 329,713 --------
18 | Quarterly Statements of Investments TEMPLETON GLOBAL INVESTMENT TRUST STATEMENT OF INVESTMENTS, DECEMBER 31, 2005 (UNAUDITED) (CONTINUED)
-------------------------------------------------------------------------------------------------------------------------------- FRANKLIN TEMPLETON NON-U.S. DYNAMIC CORE EQUITY FUND INDUSTRY SHARES VALUE -------------------------------------------------------------------------------------------------------------------------------- COMMON STOCKS (CONTINUED) MEXICO 1.8% America Movil SA de CV, L, ADR ..................... Wireless Telecommunication Services 1,100 $ 32,186 Grupo Financiero Banorte SA de CV, O ............... Commercial Banks 10,000 20,720 -------- 52,906 -------- NETHERLANDS 6.9% Akzo Nobel NV ...................................... Chemicals 733 33,973 ING Groep NV ....................................... Capital Markets 1,291 44,781 Koninklijke Philips Electronics NV ................. Household Durables 957 29,740 SBM Offshore NV .................................... Energy Equipment & Services 1,170 94,533 -------- 203,027 -------- NORWAY 2.7% Norske Skogindustrier ASA .......................... Paper & Forest Products 1,880 29,873 Telenor ASA ........................................ Diversified Telecommunication Services 5,120 50,255 -------- 80,128 -------- PORTUGAL 0.9% Portugal Telecom SGPS SA ........................... Diversified Telecommunication Services 2,608 26,398 -------- RUSSIA 0.8% Lukoil Holdings, ADR ............................... Oil, Gas & Consumable Fuels 400 23,760 -------- SINGAPORE 0.6% DBS Group Holdings Ltd. ............................ Commercial Banks 1,800 17,860 -------- SOUTH AFRICA 0.3% Sappi Ltd. ......................................... Paper & Forest Products 871 9,981 -------- SOUTH KOREA 2.5% (a)Kookmin Bank, ADR .................................. Commercial Banks 300 22,413 KT Corp., ADR ...................................... Diversified Telecommunication Services 420 9,051 (b)Samsung Electronics Co. Ltd., GDR, 144A ............ Semiconductors & Semiconductor Equipment 126 41,485 -------- 72,949 -------- SPAIN 2.9% Banco Bilbao Vizcaya Argentaria SA ................. Commercial Banks 1,000 17,852 Banco Santander Central Hispano SA ................. Commercial Banks 1,485 19,602 Telefonica Moviles SA .............................. Wireless Telecommunication Services 1,500 15,751 Telefonica SA ...................................... Diversified Telecommunication Services 2,053 30,891 -------- 84,096 -------- SWEDEN 4.4% Atlas Copco AB, A .................................. Machinery 2,950 65,716 Getinge AB, B ...................................... Health Care Equipment & Supplies 1,200 16,538 Nordea Bank AB, FDR ................................ Commercial Banks 2,420 25,297 Securitas AB, B .................................... Commercial Services & Supplies 650 10,799 Volvo AB, B ........................................ Machinery 210 9,898 -------- 128,248 --------
Quarterly Statements of Investments | 19 TEMPLETON GLOBAL INVESTMENT TRUST STATEMENT OF INVESTMENTS, DECEMBER 31, 2005 (UNAUDITED) (CONTINUED)
-------------------------------------------------------------------------------------------------------------------------------- FRANKLIN TEMPLETON NON-U.S. DYNAMIC CORE EQUITY FUND INDUSTRY SHARES VALUE -------------------------------------------------------------------------------------------------------------------------------- COMMON STOCKS (CONTINUED) SWITZERLAND 7.8% Credit Suisse Group ................................ Capital Markets 600 $ 30,599 Lonza Group AG ..................................... Chemicals 239 14,627 Roche Holding AG ................................... Pharmaceuticals 350 52,563 Swiss Reinsurance Co. .............................. Insurance 394 28,851 Syngenta AG ........................................ Chemicals 400 49,781 Synthes Inc. ....................................... Health Care Equipment & Supplies 120 13,482 UBS AG ............................................. Capital Markets 400 38,090 -------- 227,993 -------- TAIWAN 1.5% Chunghwa Telecom Co. Ltd., ADR ..................... Diversified Telecommunication Services 370 6,790 (b)Compal Electronics Inc., GDR, 144A ................. Computers & Peripherals 792 4,023 Compal Electronics Inc., GDR, Reg S ................ Computers & Peripherals 649 3,297 Taiwan Semiconductor Manufacturing Co. Ltd., ADR ... Semiconductors & Semiconductor Equipment 2,999 29,720 -------- 43,830 -------- UNITED KINGDOM 21.2% BAE Systems PLC .................................... Aerospace & Defense 5,619 36,905 BG Group PLC ....................................... Oil, Gas & Consumable Fuels 1,800 17,791 BP PLC ............................................. Oil, Gas & Consumable Fuels 1,762 18,765 British Sky Broadcasting Group PLC ................. Media 1,090 9,311 Cadbury Schweppes PLC .............................. Food Products 2,803 26,499 Compass Group PLC .................................. Hotels, Restaurants & Leisure 3,856 14,628 GlaxoSmithKline PLC ................................ Pharmaceuticals 810 20,471 HBOS PLC ........................................... Commercial Banks 1,000 17,076 HSBC Holdings PLC .................................. Commercial Banks 1,200 19,268 Man Group PLC ...................................... Capital Markets 800 26,289 National Grid PLC .................................. Electric Utilities 1,791 17,533 Next PLC ........................................... Multiline Retail 1,800 47,536 Pearson PLC ........................................ Media 947 11,201 Reckitt Benckiser PLC .............................. Household Products 1,200 39,639 Rentokil Initial PLC ............................... Commercial Services & Supplies 2,838 7,983 Royal Bank of Scotland Group PLC ................... Commercial Banks 760 22,947 Royal Dutch Shell PLC, B ........................... Oil, Gas & Consumable Fuels 892 28,514 Shire PLC .......................................... Pharmaceuticals 2,856 36,557 Smith & Nephew PLC ................................. Health Care Equipment & Supplies 3,000 27,639 Smiths Group PLC ................................... Industrial Conglomerates 983 17,690 Standard Chartered PLC ............................. Commercial Banks 1,873 41,730 Tesco PLC .......................................... Food & Staples Retailing 10,000 57,033 Sage Group PLC ..................................... Software 5,000 22,194 Vodafone Group PLC ................................. Wireless Telecommunication Services 9,671 20,881 Yell Group PLC ..................................... Media 1,555 14,353 -------- 620,433 --------
20 | Quarterly Statements of Investments TEMPLETON GLOBAL INVESTMENT TRUST STATEMENT OF INVESTMENTS, DECEMBER 31, 2005 (UNAUDITED) (CONTINUED) ------------------------------------------------------------------------------ FRANKLIN TEMPLETON NON-U.S. DYNAMIC CORE EQUITY FUND VALUE ------------------------------------------------------------------------------ TOTAL INVESTMENTS (COST $2,242,668) 108.0% ................................. $ 3,156,938 OTHER ASSETS, LESS LIABILITIES (8.0)% ...................... (233,029) ------------ NET ASSETS 100.0% .......................................... $ 2,923,909 ============ SEE SELECTED PORTFOLIO ABBREVIATIONS ON PAGE 22. (a) Non-income producing. (b) Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional buyers or in a public offering registered under the Securities Act of 1933. These securities have been deemed liquid under guidelines approved by the Fund's Board of Trustees. At December 31, 2005, the aggregate value of these securities was $47,741, representing 1.63% of net assets. Quarterly Statements of Investments | See Notes to Statements of Investments. | 21 TEMPLETON GLOBAL INVESTMENT TRUST STATEMENT OF INVESTMENTS, DECEMBER 31, 2005 (UNAUDITED) GLOSSARY OF TERMS CURRENCY ABBREVIATIONS SELECTED PORTFOLIO ABBREVIATIONS AUD - Australian Dollar ADR - American Depository Receipt CAD - Canadian Dollar FRN - Floating Rate Note EGP - Egyptian Pound GDR - Global Depository Receipt EUR - Euro M - Multi-Issuers IDR - Indonesian Rupiah REIT - Real Estate Investment Trust ISK - Iceland Krona KRW - Korean Won MYR - Malaysian Ringgit NOK - Norwegian Krone NZD - New Zealand Dollar PEN - Peru Nuevo Sol PLN - Polish Zloty SEK - Swedish Krona SGD - Singapore Dollar SKK - Slovak Koruna THB - Thai Baht 22 | See Notes to Statements of Investments. | Quarterly Statements of Investments TEMPLETON GLOBAL INVESTMENT TRUST NOTES TO STATEMENTS OF INVESTMENTS (UNAUDITED) Templeton Global Investment Trust is registered under the Investment Company Act of 1940 as an open-end investment company, consisting of three separate diversifed series, (the Funds). 1. INCOME TAXES At December 31, 2005, the cost of investments and net unrealized appreciation (depreciation) for income tax purposes were as follows:
----------------------------------------------- FRANKLIN TEMPLETON TEMPLETON INTERNATIONAL TEMPLETON NON-U.S. (EX EM) INCOME DYNAMIC CORE FUND FUND EQUITY FUND ----------------------------------------------- Cost of investments ...................... $ 59,465,854 $92,093,632 $ 2,244,211 =============================================== Unrealized appreciation .................. $ 18,638,545 $ 2,779,656 $ 925,527 Unrealized depreciation .................. (2,251,191) (2,291,204) (12,800) ----------------------------------------------- Net unrealized appreciation (depreciation) $ 16,387,354 $ 488,452 $ 912,727 ===============================================
2. FORWARD EXCHANGE CONTRACTS At December 31, 2005, Templeton Income Fund had the following forward exchange contracts outstanding:
--------------------------------------------------------------------------------------------------------------- CONTRACT SETTLEMENT UNREALIZED CONTRACTS TO BUY AMOUNT(a) DATE GAIN (LOSS) --------------------------------------------------------------------------------------------------------------- 526,500,000 Korean Won ...................... 500,024 1/12/06 $ 22,624 305,000 Canadian Dollar ................. 247,907 4/05/06 15,207 500,000 Singapore Dollar ................ 299,509 4/05/06 2,189 8,250,000 Thailand Bhat ................... 199,952 4/05/06 1,114 550,000,000 Korean Won ...................... 533,463 4/06/06 13,046 260,000,000 Korean Won ...................... 257,732 5/08/06 691 21,000,000 Thailand Bhat ................... 510,949 5/08/06 812 244,000,000 Korean Won ...................... 240,988 5/11/06 1,539 210,000 Canadian Dollar ................. 175,234 5/18/06 6,103 300,000 Canadian Dollar ................. 249,688 5/25/06 9,404 250,000,000 Korean Won ...................... 244,141 5/25/06 4,380 1,400,000 Singapore Dollar ................ 834,078 6/01/06 12,926 1,200,000 Singapore Dollar ................ 718,477 7/17/06 9,081 735,000,000 Korean Won ...................... 702,341 7/18/06 28,655 1,250,000,000 Indonesian Rupiah ............... 105,932 9/01/06 12,397 8,500,000 Thailand Bhat ................... 298,959 NZD 11/30/06 7,635 215,000,000 Korean Won ...................... 301,011 NZD 12/06/06 13,626 8,500,000 Thailand Bhat ................... 297,906 NZD 12/06/06 8,392 -------- Unrealized gain on forward exchange contracts $169,821 --------
Quarterly Statements of Investments | 23 TEMPLETON GLOBAL INVESTMENT TRUST NOTES TO STATEMENTS OF INVESTMENTS (UNAUDITED) (CONTINUED) 2. FORWARD EXCHANGE CONTRACTS (CONTINUED)
------------------------------------------------------------------------------------------------------------ CONTRACT SETTLEMENT UNREALIZED CONTRACTS TO BUY AMOUNT(a) DATE GAIN (LOSS) ------------------------------------------------------------------------------------------------------------ 1,700,000 Norwegian Krone .................. 261,800 4/05/06 $ (8,562) 1,480,000 Swedish Krona .................... 190,085 4/05/06 (2,520) 1,600,000 Norwegian Krone .................. 254,915 5/08/06 (16,133) 415,000 Singapore Dollar ................. 255,071 5/08/06 (4,276) 950,000 Swedish Krona .................... 128,342 5/08/06 (7,670) 3,950,000 Slovakian Koruna ................. 127,761 5/09/06 (3,452) 1,526,000 Norwegian Krone .................. 241,192 5/11/06 (13,416) 392,000 Singapore Dollar ................. 240,771 5/11/06 (3,843) 1,350,000 Swedish Krona .................... 180,723 5/19/06 (9,112) 1,600,000 Norwegian Krone .................. 247,162 5/24/06 (8,166) 400,000 Singapore Dollar ................. 243,531 5/25/06 (1,609) 11,000,000 Norwegian Krone .................. 1,647,693 6/01/06 (3,860) 450,000 Singapore Dollar ................. 278,931 8/15/06 (5,732) --------- Unrealized loss on forward exchange contracts (88,351) --------- Net unrealized gain (loss) on forward exchange contracts $ 81,470 =========
(a) In U.S. Dollar unless otherwise indicated. CURRENCY ABBREVIATIONS NZD - New Zealand Dollar For information on the Funds' policy regarding valuation of investments and other significant accounting policies, please refer to the Funds' most recent semiannual or annual shareholder report. 24 | Quarterly Statements of Investments ITEM 2. CONTROLS AND PROCEDURES. (a) EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES. The Registrant maintains disclosure controls and procedures that are designed to ensure that information required to be disclosed in the Registrant's filings under the Securities Exchange Act of 1934 and the Investment Company Act of 1940 is recorded, processed, summarized and reported within the periods specified in the rules and forms of the Securities and Exchange Commission. Such information is accumulated and communicated to the Registrant's management, including its principal executive officer and principal financial officer, as appropriate, to allow timely decisions regarding required disclosure. The Registrant's management, including the principal executive officer and the principal financial officer, recognizes that any set of controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives. Within 90 days prior to the filing date of this Quarterly Schedule of Portfolio Holdings on Form N-Q, the Registrant had carried out an evaluation, under the supervision and with the participation of the Registrant's management, including the Registrant's principal executive officer and the Registrant's principal financial officer, of the effectiveness of the design and operation of the Registrant's disclosure controls and procedures. Based on such evaluation, the Registrant's principal executive officer and principal financial officer concluded that the Registrant's disclosure controls and procedures are effective. (b) CHANGES IN INTERNAL CONTROLS. There have been no significant changes in the Registrant's internal controls or in other factors that could significantly affect the internal controls subsequent to the date of their evaluation in connection with the preparation of this Quarterly Schedule of Portfolio Holdings on Form N-Q. ITEM 3. EXHIBITS. (a) Certifications pursuant to Section 30a-2 of the Investment Company Act of 1940 of Jimmy D. Gambill, Chief Executive Officer - Finance and Administration, and Galen G. Vetter, Chief Financial Officer. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. TEMPLETON GLOBAL INVESTMENT TRUST By /s/JIMMY D. GAMBILL ----------------------- Jimmy D. Gambill Chief Executive Officer - Finance and Administration Date February 21, 2006 Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. By /s/JIMMY D. GAMBILL ----------------------- Jimmy D. Gambill Chief Executive Officer - Finance and Administration Date February 21, 2006 By /s/GALEN G. VETTER ------------------------------ Galen G. Vetter Chief Financial Officer Date February 21, 2006