Not
FDIC
Insured
May
Lose
Value
No
Bank
Guarantee
FGT-Q3PH
1
Schedules
of
Investments
(unaudited)
Franklin
Emerging
Market
Debt
Opportunities
Fund
2
Franklin
International
Growth
Fund
7
Notes
to
Schedules
of
Investments
9
Franklin
Global
Trust
Consolidated
Schedule
of
Investments
(unaudited),
April
30,
2023
Franklin
Emerging
Market
Debt
Opportunities
Fund
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
2
a
a
Country
Shares
a
Value
a
a
a
a
a
a
Common
Stocks
0.0%
Broadline
Retail
0.0%
a,b,c
K2016470219
South
Africa
Ltd.,
A
.........................
South
Africa
55,882,058
$
—
a,b,c
K2016470219
South
Africa
Ltd.,
B
.........................
South
Africa
5,561,052
—
—
Financial
Services
0.0%
a,b,c
Astana
Finance
JSC,
GDR,
144A
.........................
Kazakhstan
193,625
—
Total
Common
Stocks
(Cost
$433,378)
.........................................
—
Warrants
Warrants
4.2%
Financial
Services
4.2%
d,e
Ukraine
Government,
VRI,
GDP
Linked
Security,
Senior
Bond,
Reg
S,
8/01/41
.........................................
Ukraine
2,000,000
520,294
a,b,f
Venezuela
Government,
Oil
Value
Recovery,
4/15/20
...........
Venezuela
925,920
991,175
1,511,469
Total
Warrants
(Cost
$18,386,506)
.............................................
1,511,469
Units
Private
Limited
Partnership
Funds
0.0%
Capital
Markets
0.0%
a,b,c,f,g
Global
Distressed
Alpha
Fund
III
LP
.......................
United
States
4,424,861
—
Total
Private
Limited
Partnership
Funds
(Cost
$4,600,000)
.......................
—
Principal
Amount
*
Quasi-Sovereign
Bonds
7.2%
Financial
Services
2.1%
a
Meridiam
Eastern
Europe
Investments
SAS
,
8.85
%
,
6/10/28
.....
Turkey
750,000
EUR
772,778
a,c,e,h
Sphynx
Capital
Markets
PCC
(National
Investment
Bank
of
Ghana)
,
PTN
,
Secured
Note
,
Reg
S,
Zero
Cpn
.,
2/05/09
.............
Ghana
8,000,000
—
772,778
Municipal
Bonds
3.0%
d
Provincia
del
Chubut
Argentina
,
Senior
Secured
Bond
,
144A,
7.75
%
,
7/26/30
...........................................
Argentina
1,307,733
1,076,486
Oil,
Gas
&
Consumable
Fuels
0.6%
Ecopetrol
SA
,
Senior
Bond
,
4.625
%
,
11/02/31
................
Colombia
300,000
225,259
Transportation
Infrastructure
1.5%
d,i
PA
Autopista
Rio
Magdalena
,
Index
Linked,
Senior
Secured
Bond
,
144A,
6.05
%
,
6/15/36
.................................
Colombia
3,158,715,091
COP
558,927
Total
Quasi-Sovereign
Bonds
(Cost
$6,138,074)
.................................
2,633,450
Corporate
Bonds
14.8%
Banks
1.3%
d
Fidelity
Bank
plc
,
Senior
Note
,
144A,
7.625
%
,
10/28/26
.........
Nigeria
550,000
456,500
Broadline
Retail
0.0%
a,d,j
K2016470219
South
Africa
Ltd.
,
Senior
Secured
Note
,
144A,
PIK,
3
%
,
12/31/22
.......................................
South
Africa
4,842,864
—
a,d,j
K2016470260
South
Africa
Ltd.
,
Senior
Secured
Note
,
144A,
PIK,
25
%
,
12/31/22
......................................
South
Africa
2,133,302
—
—
Franklin
Global
Trust
Consolidated
Schedule
of
Investments
(unaudited)
Franklin
Emerging
Market
Debt
Opportunities
Fund
(continued)
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
3
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
Corporate
Bonds
(continued)
Capital
Markets
0.7%
d
Georgia
Capital
JSC
,
Senior
Note
,
144A,
6.125
%
,
3/09/24
.......
Georgia
250,000
$
245,313
Chemicals
0.9%
d
Braskem
Idesa
SAPI
,
Senior
Secured
Bond
,
144A,
6.99
%
,
2/20/32
Mexico
450,000
322,312
Construction
Materials
0.5%
d
Cemex
SAB
de
CV
,
Senior
Bond
,
144A,
3.875
%
,
7/11/31
.......
Mexico
200,000
167,584
Electric
Utilities
0.6%
d
Adani
Electricity
Mumbai
Ltd.
,
Senior
Secured
Bond
,
144A,
3.949
%
,
2/12/30
...........................................
India
300,000
219,665
Food
Products
1.0%
d
Frigorifico
Concepcion
SA
,
Senior
Secured
Note
,
144A,
7.7
%
,
7/21/28
...........................................
Paraguay
500,000
358,205
Metals
&
Mining
1.0%
d,j
Petra
Diamonds
US
Treasury
plc
,
Senior
Secured
Note
,
144A,
PIK,
10.033
%
,
3/08/26
....................................
South
Africa
377,503
360,515
Oil,
Gas
&
Consumable
Fuels
5.3%
d
Energo
-Pro
A/S
,
Senior
Note
,
144A,
8.5
%
,
2/04/27
............
Czech
Republic
350,000
336,000
d
KazMunayGas
National
Co.
JSC
,
Senior
Bond
,
144A,
5.75
%
,
4/19/47
...........................................
Kazakhstan
918,000
728,938
d
Kosmos
Energy
Ltd.
,
Senior
Note
,
144A,
7.75
%
,
5/01/27
........
Ghana
350,000
302,860
d
MC
Brazil
Downstream
Trading
SARL
,
Senior
Secured
Note
,
144A,
7.25
%
,
6/30/31
.....................................
Brazil
531,438
408,920
d
Tullow
Oil
plc
,
Senior
Secured
Note
,
144A,
10.25
%
,
5/15/26
.....
Ghana
220,000
172,026
1,948,744
Passenger
Airlines
0.8%
d
Pegasus
Hava
Tasimaciligi
A/S
,
Senior
Note
,
144A,
9.25
%
,
4/30/26
Turkey
300,000
300,654
Real
Estate
Management
&
Development
1.4%
d
Country
Garden
Holdings
Co.
Ltd.
,
Senior
Secured
Note
,
Reg
S,
7.25
%
,
4/08/26
.....................................
China
980,000
509,729
Wireless
Telecommunication
Services
1.3%
d
Telecommunications
Services
of
Trinidad
&
Tobago
Ltd.
,
Senior
Secured
Note
,
144A,
8.875
%
,
10/18/29
...................
Trinidad
and
Tobago
570,000
481,049
Total
Corporate
Bonds
(Cost
$12,271,838)
......................................
5,370,270
Loan
Participations
and
Assignments
1.7%
a,c,e
Alfa
Bank
AO
Via
Alfa
Bond
Issuance
plc
,
Sub.
Bond
,
144A,
5.95%
to
4/14/25,
FRN
thereafter
,
4/15/30
.......................
Russia
1,000,000
—
Global
Distressed
Alpha
Fund
III
LP
,
a,c,f,j,k
PIK,
12%,
Perpetual
..................................
United
States
1,525,534
604,739
Total
Loan
Participations
and
Assignments
(Cost
$2,285,346)
....................
604,739
Foreign
Government
and
Agency
Securities
54.0%
d
Angola
Government
Bond
,
Senior
Bond,
144A,
8%,
11/26/29
........................
Angola
500,000
422,595
Senior
Bond,
144A,
8.75%,
4/14/32
......................
Angola
400,000
332,544
Argentina
Government
Bond
,
Senior
Note
,
1
%
,
7/09/29
.........
Argentina
150,490
35,737
d
Armenia
Government
Bond
,
Senior
Bond
,
144A,
3.95
%
,
9/26/29
..
Armenia
450,000
374,129
d
Benin
Government
Bond
,
Senior
Bond
,
144A,
4.875
%
,
1/19/32
...
Benin
600,000
EUR
495,669
Brazil
Notas
do
Tesouro
Nacional
,
10
%
,
1/01/29
..............
Brazil
6,400,000
BRL
1,182,410
d
Cameroon
Government
Bond
,
Senior
Bond
,
144A,
5.95
%
,
7/07/32
Cameroon
550,000
EUR
427,197
Colombia
Government
Bond
,
Senior
Bond,
9.85%,
6/28/27
...........................
Colombia
2,500,000,000
COP
498,899
Franklin
Global
Trust
Consolidated
Schedule
of
Investments
(unaudited)
Franklin
Emerging
Market
Debt
Opportunities
Fund
(continued)
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
4
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
Foreign
Government
and
Agency
Securities
(continued)
Colombia
Government
Bond,
(continued)
Senior
Bond,
7.5%,
2/02/34
............................
Colombia
350,000
$
336,508
d
Costa
Rica
Government
Bond
,
Senior
Bond
,
144A,
7.158
%
,
3/12/45
Costa
Rica
300,000
299,478
d
Dominican
Republic
Government
Bond
,
Senior
Bond,
144A,
13.625%,
2/03/33
....................
Dominican
Republic
45,000,000
DOP
975,925
Senior
Bond,
144A,
6.4%,
6/05/49
.......................
Dominican
Republic
300,000
252,954
d
Egypt
Government
Bond
,
Senior
Bond,
144A,
7.625%,
5/29/32
.....................
Egypt
300,000
169,216
Senior
Bond,
144A,
7.5%,
2/16/61
.......................
Egypt
300,000
151,233
d
El
Salvador
Government
Bond
,
Senior
Bond
,
Reg
S,
7.65
%
,
6/15/35
El
Salvador
900,000
458,645
d
Ethiopia
Government
Bond
,
Senior
Bond
,
144A,
6.625
%
,
12/11/24
Ethiopia
1,550,000
1,088,348
d
Gabon
Government
Bond
,
Senior
Bond,
144A,
6.625%,
2/06/31
.....................
Gabon
300,000
222,468
Senior
Bond,
144A,
7%,
11/24/31
........................
Gabon
500,000
371,300
d
Grenada
Government
Bond
,
Senior
Bond
,
144A,
7
%
,
5/12/30
....
Grenada
838,729
704,532
d
Honduras
Government
Bond
,
Senior
Bond
,
144A,
5.625
%
,
6/24/30
Honduras
450,000
357,301
d
Iraq
Government
Bond
,
Senior
Bond
,
Reg
S,
5.8
%
,
1/15/28
......
Iraq
831,250
778,341
Jamaica
Government
Bond
,
Senior
Bond
,
7.875
%
,
7/28/45
......
Jamaica
300,000
351,184
d
Jordan
Government
Bond
,
Senior
Bond,
144A,
5.85%,
7/07/30
......................
Jordan
400,000
360,732
Senior
Note,
144A,
7.5%,
1/13/29
.......................
Jordan
200,000
201,964
l
Kazakhstan
Government
Bond
,
14.5
%
,
4/28/25
...............
Kazakhstan
260,000,000
KZT
585,116
Kazakhstan
MEUKAM
,
Senior
Bond
,
5
%
,
5/15/23
.............
Kazakhstan
178,870,000
KZT
395,650
Mexican
Bonos
Desarr
Fixed
Rate
,
l
M,
7.75%,
5/29/31
...................................
Mexico
7,500,000
m
MXN
391,757
M,
8%,
11/07/47
.....................................
Mexico
17,000,000
MXN
841,299
i
Mexican
Udibonos
,
S
,
Index
Linked,
Senior
Bond
,
4
%
,
11/30/28
..
Mexico
6,613,339
n
MXN
359,785
d
Mozambique
Government
Bond
,
144A,
5%
to
9/15/23,
9%
thereafter
,
9/15/31
...........................................
Mozambique
500,000
351,700
d
North
Macedonia
Government
Bond
,
Senior
Note
,
144A,
6.96
%
,
3/13/27
...........................................
Macedonia,
the
Former
Yugoslav
Republic
of
300,000
EUR
335,946
d
Pakistan
Government
Bond
,
Senior
Bond
,
144A,
7.375
%
,
4/08/31
.
Pakistan
850,000
293,182
Peru
Bonos
de
la
Tesoreria
,
Senior
Bond
,
5.4
%
,
8/12/34
........
Peru
2,000,000
PEN
455,220
a,e
Russia
Government
Bond
,
Senior
Bond
,
7.65
%
,
4/10/30
........
Russia
73,425,000
RUB
45,905
d,e
Saderea
DAC
,
Senior
Secured
Bond
,
Reg
S,
12.5
%
,
11/30/26
....
Ghana
465,160
200,019
South
Africa
Government
Bond
,
Senior
Bond
,
7
%
,
2/28/31
......
South
Africa
14,077,951
ZAR
624,443
d,e
Suriname
Government
Bond
,
Senior
Note
,
144A,
12.875
%
,
12/30/23
Suriname
1,400,000
1,039,500
Tunisia
Government
Bond
,
Senior
Bond
,
4.2
%
,
3/17/31
.........
Tunisia
190,000,000
JPY
468,644
d,e
Ukraine
Government
Bond
,
Senior
Bond
,
144A,
7.375
%
,
9/25/34
.
Ukraine
2,600,000
429,000
Uruguay
Government
Bond
,
Senior
Bond
,
8.25
%
,
5/21/31
.......
Uruguay
40,000,000
UYU
935,939
d
Uzbekistan
Government
Bond
,
Senior
Note
,
144A,
14
%
,
7/19/24
..
Uzbekistan
12,320,000,000
UZS
1,063,858
Total
Foreign
Government
and
Agency
Securities
(Cost
$26,968,483)
..............
19,666,272
Supranational
7.7%
Asian
Development
Bank
,
Senior
Note,
13.6%,
4/17/24
...........................
Supranational
o
131,000,000
HUF
388,533
Senior
Note,
8.175%,
9/15/24
...........................
Supranational
o
2,050,000
PLN
496,656
d
Senior
Note,
Reg
S,
8.3%,
10/18/24
......................
Supranational
o
1,100,000
PLN
267,112
European
Bank
for
Reconstruction
&
Development
,
Senior
Note
,
6.17
%
,
3/10/25
.....................................
Supranational
o
14,500,000,000
IDR
994,640
European
Investment
Bank
,
Senior
Note
,
8.5
%
,
12/01/23
.......
Supranational
o
1,700,000
GEL
666,851
Total
Supranational
(Cost
$2,526,050)
..........................................
2,813,792
Franklin
Global
Trust
Consolidated
Schedule
of
Investments
(unaudited)
Franklin
Emerging
Market
Debt
Opportunities
Fund
(continued)
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
5
a
a
Country
Shares
a
Value
a
a
a
a
a
a
Escrows
and
Litigation
Trusts
0.0%
a,b
K2016470219
South
Africa
Ltd.,
Escrow
Account
..............
South
Africa
275,106
$
—
Total
Escrows
and
Litigation
Trusts
(Cost
$–)
...................................
—
Total
Long
Term
Investments
(Cost
$73,609,675)
................................
32,599,992
a
Short
Term
Investments
10.3%
a
a
Country
Principal
Amount
*
a
Value
a
a
a
a
a
a
Foreign
Government
and
Agency
Securities
0.1%
l,p
Kazakhstan
Treasury
Bills,
1/20/24
........................
Kazakhstan
12,882,000
KZT
25,839
Total
Foreign
Government
and
Agency
Securities
(Cost
$25,698)
.................
25,839
Shares
a
a
a
Money
Market
Funds
10.0%
q,r
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
4.483%
....
United
States
3,631,204
3,631,204
Total
Money
Market
Funds
(Cost
$3,631,204)
...................................
3,631,204
Principal
Amount
*
a
a
a
Repurchase
Agreements
0.2%
s
Joint
Repurchase
Agreement,
4.693%,
5/01/23
(Maturity
Value
$81,849)
BNP
Paribas
Securities
Corp.
(Maturity
Value
$41,275)
Deutsche
Bank
Securities,
Inc.
(Maturity
Value
$15,810)
HSBC
Securities
(USA),
Inc.
(Maturity
Value
$24,764)
Collateralized
by
U.S.
Government
and
Agency
Securities,
2%
-
5.5%,
9/6/24
-
10/15/57;
U.S.
Treasury
Bonds,
Index
Linked,
2%
-
2.38%,
1/15/25
-
1/15/26;
and
U.S.
Treasury
Notes,
0.38%,
7/31/27
(valued
at
$83,498)
............................
81,817
81,817
Total
Repurchase
Agreements
(Cost
$81,817)
...................................
81,817
Total
Short
Term
Investments
(Cost
$3,738,719
)
.................................
3,738,860
a
Total
Investments
(Cost
$77,348,394)
99.9%
....................................
$36,338,852
Other
Assets,
less
Liabilities
0.1%
.............................................
57,938
Net
Assets
100.0%
...........................................................
$36,396,790
*
The
principal
amount
is
stated
in
U.S.
dollars
unless
otherwise
indicated.
a
Fair
valued
using
significant
unobservable
inputs.
See
Note
6
regarding
fair
value
measurements.
b
Non-income
producing.
c
See
Note
3
regarding
restricted
securities.
d
Security
was
purchased
pursuant
to
Rule
144A
or
Regulation
S
under
the
Securities
Act
of
1933.
144A
securities
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.
Regulation
S
securities
cannot
be
sold
in
the
United
States
without
either
an
effective
registration
statement
filed
pursuant
to
the
Securities
Act
of
1933,
or
pursuant
to
an
exemption
from
registration.
At
April
30,
2023,
the
aggregate
value
of
these
securities
was
$19,950,865,
representing
54.8%
of
net
assets.
e
Defaulted
security
or
security
for
which
income
has
been
deemed
uncollectible.
f
The
security
is
owned
by
Alternative
Strategies
(FT)
Ltd.,
a
wholly-owned
subsidiary
of
the
Fund.
See
Note
5.
g
The
Global
Distressed
Alpha
Fund
III
LP
is
a
fund
focused
on
the
purchase
of
and
the
recovery
on
private
distressed
commercial,
sovereign
and
sovereign-related
debt
claims
around
the
world,
principally
in
Africa
and
Asia.
h
Represents
claims
that
have
been
filed
with
a
Ghanaian
court
against
National
Investment
Bank
of
Ghana.
i
Principal
amount
of
security
is
adjusted
for
inflation.
j
Income
may
be
received
in
additional
securities
and/or
cash.
k
Perpetual
security
with
no
stated
maturity
date.
Franklin
Global
Trust
Consolidated
Schedule
of
Investments
(unaudited)
Franklin
Emerging
Market
Debt
Opportunities
Fund
(continued)
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
6
At
April
30,
2023,
the
Fund
had
the
following
forward
exchange
contracts
outstanding.
See
Abbreviation
s
on
page
15
.
l
A
portion
or
all
of
the
security
purchased
on
a
delayed
delivery
basis.
m
Principal
amount
is
stated
in
100
Mexican
Peso
Units.
n
Principal
amount
is
stated
in
100
Unidad
de
Inversion
Units.
o
A
supranational
organization
is
an
entity
formed
by
two
or
more
central
governments
through
international
treaties.
p
The
security
was
issued
on
a
discount
basis
with
no
stated
coupon
rate.
q
See
Note
4
regarding
investments
in
affiliated
management
investment
companies.
r
The
rate
shown
is
the
annualized
seven-day
effective
yield
at
period
end.
s
Investment
is
through
participation
in
a
joint
account
with
other
funds
managed
by
the
investment
manager
or
an
affiliate
of
the
investment
manager.
At
April
28,
2023,
all
repurchase
agreements
had
been
entered
into
on
that
date.
Forward
Exchange
Contracts
Currency
Counter-
party
a
Type
Quantity
Contract
Amount
*
Settlement
Date
Unrealized
Appreciation
Unrealized
Depreciation
a
a
a
a
a
a
a
a
OTC
Forward
Exchange
Contracts
Euro
.............
CITI
Buy
160,000
171,694
6/13/23
$
5,072
$
—
Euro
.............
CITI
Sell
3,150,000
3,362,074
6/13/23
—
(118,002)
Japanese
Yen
......
RBCCM
Sell
85,000,000
631,501
6/13/23
3,522
—
Total
Forward
Exchange
Contracts
...................................................
$8,594
$(118,002)
Net
unrealized
appreciation
(depreciation)
............................................
$(109,408)
*
In
U.S.
dollars
unless
otherwise
indicated.
a
May
be
comprised
of
multiple
contracts
with
the
same
counterparty,
currency
and
settlement
date.
Franklin
Global
Trust
Schedule
of
Investments
(unaudited),
April
30,
2023
Franklin
International
Growth
Fund
See
Notes
to
Schedules
of
Investments.
Quarterly
Schedule
of
Investments
7
a
a
Country
Shares
a
Value
a
a
a
a
a
a
Common
Stocks
96.7%
Aerospace
&
Defense
3.9%
MTU
Aero
Engines
AG
.................................
Germany
235,000
$
61,709,441
Air
Freight
&
Logistics
3.7%
DSV
A/S
............................................
Denmark
310,000
58,341,007
Banks
3.3%
FinecoBank
Banca
Fineco
SpA
...........................
Italy
3,450,000
52,298,790
Biotechnology
6.7%
CSL
Ltd.
............................................
United
States
254,000
50,707,740
a
Genmab
A/S
.........................................
Denmark
137,000
56,300,501
107,008,241
Broadline
Retail
3.7%
a
MercadoLibre,
Inc.
....................................
Brazil
46,000
58,764,540
Capital
Markets
9.6%
Deutsche
Boerse
AG
...................................
Germany
270,000
51,496,006
Intermediate
Capital
Group
plc
...........................
United
Kingdom
3,106,000
51,000,097
Macquarie
Group
Ltd.
..................................
Australia
405,000
49,406,689
151,902,792
Chemicals
3.5%
Sika
AG
............................................
Switzerland
200,000
55,247,694
Containers
&
Packaging
1.0%
SIG
Group
AG
.......................................
Switzerland
600,000
16,060,284
Entertainment
3.7%
a
CTS
Eventim
AG
&
Co.
KGaA
............................
Germany
898,933
59,231,730
Financial
Services
3.6%
a,b
Adyen
NV,
144A,
Reg
S
................................
Netherlands
36,000
57,851,911
Health
Care
Equipment
&
Supplies
8.7%
Alcon,
Inc.
...........................................
Switzerland
798,000
58,110,694
Asahi
Intecc
Co.
Ltd.
...................................
Japan
1,580,000
28,594,174
Cochlear
Ltd.
........................................
Australia
310,000
50,829,968
137,534,836
Hotels,
Restaurants
&
Leisure
4.0%
a
Amadeus
IT
Group
SA
.................................
Spain
900,860
63,322,715
IT
Services
7.1%
Keywords
Studios
plc
..................................
Ireland
1,840,000
62,594,656
a
Shopify,
Inc.,
A
.......................................
Canada
1,050,000
50,872,500
113,467,156
Life
Sciences
Tools
&
Services
2.9%
a
Evotec
SE
...........................................
Germany
2,550,000
46,838,541
Media
7.4%
a
Ascential
plc
.........................................
United
Kingdom
12,538,774
40,214,682
CyberAgent,
Inc.
......................................
Japan
3,960,000
34,559,875
a
Viaplay
Group
AB,
B
...................................
Sweden
1,702,975
43,508,823
118,283,380
Pharmaceuticals
3.4%
a
DSM-Firmenich
AG
....................................
Switzerland
410,000
53,658,142
Professional
Services
3.3%
a
Clarivate
plc
.........................................
United
States
1,050,000
9,303,000
Franklin
Global
Trust
Schedule
of
Investments
(unaudited)
Franklin
International
Growth
Fund
(continued)
Quarterly
Schedule
of
Investments
See
Notes
to
Schedules
of
Investments.
8
See
A
bbreviations
o
n
page
15
.
a
a
Country
Shares
a
Value
a
a
a
a
a
a
Common
Stocks
(continued)
Professional
Services
(continued)
Experian
plc
.........................................
United
States
1,200,000
$
42,485,859
51,788,859
Semiconductors
&
Semiconductor
Equipment
3.7%
ASML
Holding
NV
.....................................
Netherlands
92,000
58,389,664
Software
11.2%
a
CyberArk
Software
Ltd.
.................................
United
States
408,813
50,938,100
a
Nice
Ltd.,
ADR
.......................................
Israel
280,000
57,122,800
SimCorp
A/S
.........................................
Denmark
650,000
70,454,912
178,515,812
Trading
Companies
&
Distributors
2.3%
RS
Group
plc
........................................
United
Kingdom
3,200,000
37,126,539
Total
Common
Stocks
(Cost
$1,265,606,674)
....................................
1,537,342,074
Short
Term
Investments
2.4%
a
a
Country
Shares
a
Value
a
a
a
Money
Market
Funds
2.4%
c,d
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
4.483%
....
United
States
37,469,303
37,469,303
Total
Money
Market
Funds
(Cost
$37,469,303)
..................................
37,469,303
Total
Short
Term
Investments
(Cost
$37,469,303
)
................................
37,469,303
a
Total
Investments
(Cost
$1,303,075,977)
99.1%
..................................
$1,574,811,377
Other
Assets,
less
Liabilities
0.9%
.............................................
15,792,771
Net
Assets
100.0%
...........................................................
$1,590,604,148
a
Non-income
producing.
b
Security
was
purchased
pursuant
to
Rule
144A
or
Regulation
S
under
the
Securities
Act
of
1933.
144A
securities
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.
Regulation
S
securities
cannot
be
sold
in
the
United
States
without
either
an
effective
registration
statement
filed
pursuant
to
the
Securities
Act
of
1933,
or
pursuant
to
an
exemption
from
registration.
At
April
30,
2023,
the
value
of
this
security
was
$57,851,911,
representing
3.6%
of
net
assets.
c
See
Note
4
regarding
investments
in
affiliated
management
investment
companies.
d
The
rate
shown
is
the
annualized
seven-day
effective
yield
at
period
end.
Franklin
Global
Trust
9
Quarterly
Schedules
of
Investments
Notes
to
Schedules
of
Investments
(unaudited)
1.
Organization
Franklin
Global
Trust (Trust)
is
registered
under
the
Investment
Company
Act
of
1940
(1940
Act)
as
an
open-end
management
investment
company,
consisting
of two
separate
funds
(Funds).
The
Funds
follow
the
accounting
and
reporting
guidance
in
Financial
Accounting
Standards
Board
(FASB)
Accounting
Standards
Codification
Topic
946,
Financial
Services
-
Investment
Companies
(ASC
946)
and
apply
the
specialized
accounting
and
reporting
guidance
in
U.S.Generally
Accepted
Accounting
Principles
(U.S.GAAP),
including,
but
not
limited
to,
ASC
946.
2. Financial
Instrument
Valuation
The
Funds’
investments
in
financial
instruments
are
carried
at
fair
value
daily.
Fair
value
is
the
price
that
would
be
received
to
sell
an
asset
or
paid
to
transfer
a
liability
in
an
orderly
transaction
between
market
participants
on
the
measurement
date.
The
Funds
calculate
the
net
asset
value
(NAV)
per
share
each
business
day
as
of
4
p.m.
Eastern
time
or
the
regularly
scheduled
close
of
the
New
York
Stock
Exchange
(NYSE),
whichever
is
earlier.
Under
compliance
policies
and
procedures
approved
by
the
Trust’s
Board
of
Trustees
(the
Board),
the
Board
has
designated
the
Funds’
investment
manager
as
the
valuation
designee
and
has
responsibility
for
oversight
of
valuation.
The
investment
manager
is
assisted
by
the
Funds'
administrator
in
performing
this
responsibility,
including
leading
the
cross-functional
Valuation
Committee
(VC).
The
Funds
may
utilize
independent
pricing
services,
quotations
from
securities
and
financial
instrument
dealers,
and
other
market
sources
to
determine
fair
value.
Equity
securities
listed
on
an
exchange
or
on
the
NASDAQ
National
Market
System
are
valued
at
the
last
quoted
sale
price
or
the
official
closing
price
of
the
day,
respectively.
Foreign
equity
securities
are
valued
as
of
the
close
of
trading
on
the
foreign
stock
exchange
on
which
the
security
is
primarily
traded
or
as
of
4
p.m.
Eastern
time.
The
value
is
then
converted
into
its
U.S.
dollar
equivalent
at
the
foreign
exchange
rate
in
effect
at
4
p.m. Eastern
time
on
the
day
that
the
value
of
the
security
is
determined.
Over-the-counter
(OTC)
securities
are
valued
within
the
range
of
the
most
recent
quoted
bid
and
ask
prices.
Securities
that
trade
in
multiple
markets
or
on
multiple
exchanges
are
valued
according
to
the
broadest
and
most
representative
market.
Certain
equity
securities
are
valued
based
upon
fundamental
characteristics
or
relationships
to
similar
securities.
Debt
securities
generally
trade
in
the
OTC
market
rather
than
on
a
securities
exchange.
The
Funds’
pricing
services
use
multiple
valuation
techniques
to
determine
fair
value.
In
instances
where
sufficient
market
activity
exists,
the
pricing
services
may
utilize
a
market-based
approach
through
which
quotes
from
market
makers
are
used
to
determine
fair
value.
In
instances
where
sufficient
market
activity
may
not
exist
or
is
limited,
the
pricing
services
also
utilize
proprietary
valuation
models
which
may
consider
market
characteristics
such
as
benchmark
yield
curves,
credit
spreads,
estimated
default
rates,
anticipated
market
interest
rate
volatility,
coupon
rates,
anticipated
timing
of
principal
repayments,
underlying
collateral,
and
other
unique
security
features
in
order
to
estimate
the
relevant
cash
flows,
which
are
then
discounted
to
calculate
the
fair
value.
Securities
denominated
in
a
foreign
currency
are
converted
into
their
U.S.
dollar
equivalent
at
the
foreign
exchange
rate
in
effect
at
4
p.m.
Eastern
time
on
the
date
that
the
values
of
the
foreign
debt
securities
are
determined.
Investments
in
open-end
mutual
funds
are
valued
at
the
closing
NAV.
Certain
derivative
financial
instruments
trade
in
the
OTC
market.
The
Fund’s
pricing
services
use
various
techniques
including
industry
standard
option
pricing
models
and
proprietary
discounted
cash
flow
models
to
determine
the
fair
value
of
those
instruments.
The
Fund’s net
benefit
or
obligation
under
the
derivative
contract,
as
measured
by
the
fair
value
of
the
contract,
is
included
in
net
assets.
The
Funds
have procedures
to
determine
the
fair
value
of
financial
instruments
for
which
market
prices
are
not
reliable
or
readily
available.
Under
these
procedures,
the
Funds
primarily employ
a
market-based
approach
which
may
use
related
or
comparable
assets
or
liabilities,
recent
transactions,
market
multiples,
and
other
relevant
information
for
the
investment
to
determine
the
fair
value
of
the
investment.
An
income-based
valuation
approach
may
also
be
used
in
which
the
anticipated
Franklin
Global
Trust
Notes
to
Schedules
of
Investments
(unaudited)
10
Quarterly
Schedules
of
Investments
future
cash
flows
of
the
investment
are
discounted
to
calculate
fair
value.
Discounts
may
also
be
applied
due
to
the
nature
or
duration
of
any
restrictions
on
the
disposition
of
the
investments.
Due
to
the
inherent
uncertainty
of
valuations
of
such
investments,
the
fair
values
may
differ
significantly
from
the
values
that
would
have
been
used
had
an
active
market
existed.
Trading
in
securities
on
foreign
securities
stock
exchanges
and
OTC
markets
may
be
completed
before
4
p.m.
Eastern
time.
In
addition,
trading
in
certain
foreign
markets
may
not
take
place
on
every
Funds’ business
day.
Events
can
occur
between
the
time
at
which
trading
in
a
foreign
security
is
completed
and
4
p.m.
Eastern
time
that
might
call
into
question
the
reliability
of
the
value
of
a
portfolio
security
held
by
the
Fund.
As
a
result,
differences
may
arise
between
the
value
of
the
Funds’
portfolio
securities
as
determined
at
the
foreign
market
close
and
the
latest
indications
of
value
at
4
p.m.
Eastern
time.
In
order
to
minimize
the
potential
for
these
differences,
an
independent
pricing
service
may
be
used
to
adjust
the
value
of
the
Funds'
portfolio
securities
to
the
latest
indications
of
fair
value
at 4
p.m.
Eastern
time.
At
April
30,
2023,
certain
securities
may
have
been
fair
valued
using
these
procedures,
in
which
case
the
securities
were
categorized
as
Level
2
within
the
fair
value
hierarchy
(referred
to
as
"market
level
fair
value").
See
the
Fair
Value
Measurements
note
for
more
information.
When
the
last
day
of
the
reporting
period
is
a
non-business
day,
certain
foreign
markets
may
be
open
on
those
days
that
the
Funds’
NAV
is
not
calculated,
which
could
result
in
differences
between
the
value
of
the
Funds’
portfolio securities
on
the
last
business
day
and
the
last
calendar
day
of
the
reporting
period.
Any
security
valuation
changes
due
to
an
open
foreign
market
are
adjusted
and
reflected
by
the
Funds for
financial
reporting
purposes.
3.
Restricted
Securities
At
April
30,
2023,
investments
in
restricted
securities,
excluding
securities
exempt
from
registration
under
the
Securities
Act
of
1933,
were
as
follows:
Principal
Amount
*
/
Shares
/
Units
Issuer
Acquisition
Date
Cost
Value
Franklin
Emerging
Market
Debt
Opportunities
Fund
1,000,000
Alfa
Bank
AO
Via
Alfa
Bond
Issuance
plc,
Sub.
Bond,
144A,
5.95%
to
4/14/25,
FRN
thereafter,
4/15/30
...
11/21/19
$
1,005,945
$
—
193,625
Astana
Finance
JSC,
GDR,
144A
................
5/22/15
—
—
4,424,861
Global
Distressed
Alpha
Fund
III
LP
..............
10/11/12-1/22/16
4,600,000
—
1,525,534
Global
Distressed
Alpha
Fund
III
LP,
PIK,
12%,
Perpetual
................................
12/28/16-4/30/23
1,279,401
604,739
55,882,058
a
K2016470219
South
Africa
Ltd.,
A
...............
2/08/13-2/01/17
429,249
—
5,561,052
a
K2016470219
South
Africa
Ltd.,
B
...............
2/01/17
4,129
—
8,000,000
Sphynx
Capital
Markets
PCC
(National
Investment
Bank
of
Ghana),
PTN,
Secured
Note,
Reg
S,
Zero
Cpn.,
2/05/09
..................................
10/12/09
-10/13/11
3,100,000
—
Total
Restricted
Securities
(Value
is
1.7%
of
Net
Assets)
..............
$10,418,724
$604,739
*
In
U.S.
dollars
unless
otherwise
indicated.
a
The
Fund
also
invests
in
unrestricted
securities
of
the
same
issuer,
valued
at
$-
as
of
April
30,
2023.
2. Financial
Instrument
Valuation
(continued)
Franklin
Global
Trust
Notes
to
Schedules
of
Investments
(unaudited)
11
Quarterly
Schedules
of
Investments
4.
Investments
in
Affiliated
Management
Investment
Companies
Certain
or
all
Funds
invest
in
one
or
more
affiliated
management
investment
companies.
As
defined
in
the
1940
Act,
an
investment
is
deemed
to
be
a
“Controlled
Affiliate”
of
a
fund
when
a
fund
owns,
either
directly
or
indirectly,
25%
or
more
of
the
affiliated
fund’s
outstanding
shares
or
has
the
power
to
exercise
control
over
management
or
policies
of
such
fund.
The
Funds
do
not
invest
for
purposes
of
exercising
a
controlling
influence
over
the
management
or
policies.
During
the
period
ended
April
30,
2023,
investments
in
affiliated
management
investment
companies
were
as
follows:
5.
Investments
in
Alternative
Strategies
(FT)
Ltd.
(FT
Subsidiary)
Franklin
Emerging
Market
Debt
Opportunities
Fund
invests
in
certain
financial
instruments,
warrants
or
commodities
through
its
investment
in
the
FT
Subsidiary.
The
FT
Subsidiary
is
a
Cayman
Islands
exempted
company
with
limited
liability,
is
a
wholly-owned
subsidiary
of
the
Fund,
and
is
able
to
invest
in
certain
financial
instruments
consistent
with
the
investment
objective
of
the
Fund.
At
April
30,
2023,
the
FT
Subsidiary
investments
as
well
as
any
other
assets
and
liabilities
of
the
FT
Subsidiary
are
reflected
in
the
Fund’s
Consolidated
Schedule
of
Investments.
At
April
30,
2023,
the
net
assets
of
the
FT
Subsidiary
were
$1,602,176,
representing
4.4%
of
the
Fund’s
consolidated
net
assets.
The
Fund’s
investment
in
the
FT
Subsidiary
is
limited
to
25%
of
consolidated
assets.
6. Fair
Value
Measurements
The
Funds
follow
a
fair
value
hierarchy
that
distinguishes
between
market
data
obtained
from
independent
sources
(observable
inputs)
and
the
Funds'
own
market
assumptions
(unobservable
inputs).
These
inputs
are
used
in
determining
the
value
of
the
Funds’
financial
instruments
and
are
summarized
in
the
following
fair
value
hierarchy:
• Level
1
–
quoted
prices
in
active
markets
for
identical
financial
instruments
• Level
2
–
other
significant
observable
inputs
(including
quoted
prices
for
similar
financial
instruments,
interest
rates,
prepayment
speed,
credit
risk,
etc.)
• Level
3
–
significant
unobservable
inputs
(including
the
Funds'
own
assumptions
in
determining
the
fair
value
of
financial
instruments)
aa
Value
at
Beginning
of
Period
Purchases
Sales
Realized
Gain
(Loss)
Net
Change
in
Unrealized
Appreciation
(Depreciation)
Value
at
End
of
Period
Number
of
Shares
Held
at
End
of
Period
Investment
Income
a
a
a
a
a
a
a
a
Franklin
Emerging
Market
Debt
Opportunities
Fund
Non-Controlled
Affiliates
Dividends
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
4.483%
$
1,426,619
$
30,795,209
$
(28,590,624)
$
—
$
—
$
3,631,204
3,631,204
$
41,989
Total
Affiliated
Securities
...
$1,426,619
$30,795,209
$(28,590,624)
$—
$—
$3,631,204
$41,989
Franklin
International
Growth
Fund
Non-Controlled
Affiliates
Dividends
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio,
4.483%
$32,721,821
$366,068,351
$(361,320,869)
$—
$—
$37,469,303
37,469,303
$1,034,690
Total
Affiliated
Securities
...
$32,721,821
$366,068,351
$(361,320,869)
$—
$—
$37,469,303
$1,034,690
Franklin
Global
Trust
Notes
to
Schedules
of
Investments
(unaudited)
12
Quarterly
Schedules
of
Investments
The
input
levels
are
not
necessarily
an
indication
of
the
risk
or
liquidity
associated
with
financial
instruments
at
that
level.
A
summary
of
inputs
used
as
of
April
30,
2023,
in
valuing
the
Funds’
assets
and
liabilities carried
at
fair
value,
is
as
follows:
Level
1
Level
2
Level
3
Total
Franklin
Emerging
Market
Debt
Opportunities
Fund
Assets:
Investments
in
Securities:
Common
Stocks
.........................
$
—
$
—
$
—
a
$
—
Warrants
:
Financial
Services
......................
—
520,294
991,175
1,511,469
Private
Limited
Partnership
Funds
............
—
—
—
a
—
Quasi-Sovereign
Bonds
...................
—
1,860,672
772,778
a
2,633,450
Corporate
Bonds
:
Banks
...............................
—
456,500
—
456,500
Broadline
Retail
.......................
—
—
—
a
—
Capital
Markets
........................
—
245,313
—
245,313
Chemicals
...........................
—
322,312
—
322,312
Construction
Materials
..................
—
167,584
—
167,584
Electric
Utilities
........................
—
219,665
—
219,665
Food
Products
........................
—
358,205
—
358,205
Metals
&
Mining
.......................
—
360,515
—
360,515
Oil,
Gas
&
Consumable
Fuels
.............
—
1,948,744
—
1,948,744
Passenger
Airlines
.....................
—
300,654
—
300,654
Real
Estate
Management
&
Development
....
—
509,729
—
509,729
Wireless
Telecommunication
Services
.......
—
481,049
—
481,049
Loan
Participations
and
Assignments
.........
—
—
604,739
b
604,739
Foreign
Government
and
Agency
Securities
....
—
19,620,367
45,905
19,666,272
Supranational
...........................
—
2,813,792
—
2,813,792
Escrows
and
Litigation
Trusts
...............
—
—
—
a
—
Short
Term
Investments
...................
3,631,204
107,656
—
3,738,860
Total
Investments
in
Securities
...........
$3,631,204
$30,293,051
$2,414,597
$36,338,852
Other
Financial
Instruments:
Forward
exchange
contracts
...............
$
—
$
8,594
$
—
$
8,594
Total
Other
Financial
Instruments
.........
$—
$8,594
$—
$8,594
Liabilities:
Other
Financial
Instruments:
Forward
exchange
contracts
................
$
—
$
118,002
$
—
$
118,002
Total
Other
Financial
Instruments
.........
$—
$118,002
$—
$118,002
Franklin
International
Growth
Fund
Assets:
Investments
in
Securities:
Common
Stocks
:
Aerospace
&
Defense
...................
—
61,709,441
—
61,709,441
Air
Freight
&
Logistics
...................
—
58,341,007
—
58,341,007
Banks
...............................
—
52,298,790
—
52,298,790
Biotechnology
.........................
—
107,008,241
—
107,008,241
Broadline
Retail
.......................
58,764,540
—
—
58,764,540
Capital
Markets
........................
—
151,902,792
—
151,902,792
Chemicals
...........................
—
55,247,694
—
55,247,694
Containers
&
Packaging
.................
—
16,060,284
—
16,060,284
Entertainment
.........................
—
59,231,730
—
59,231,730
Financial
Services
......................
—
57,851,911
—
57,851,911
Health
Care
Equipment
&
Supplies
.........
—
137,534,836
—
137,534,836
Hotels,
Restaurants
&
Leisure
.............
—
63,322,715
—
63,322,715
IT
Services
...........................
50,872,500
62,594,656
—
113,467,156
6. Fair
Value
Measurements
(continued)
Franklin
Global
Trust
Notes
to
Schedules
of
Investments
(unaudited)
13
Quarterly
Schedules
of
Investments
A
reconciliation
in
which
Level
3
inputs
are
used
in
determining
fair
value
is
presented
when
there
are
significant
Level
3
assets
and/or
liabilities
at
the
beginning
and/or
end
of
the
period.
At
April
30,
2023,
the
reconciliation
is
as
follows:
Level
1
Level
2
Level
3
Total
Franklin
International
Growth
Fund
(continued)
Assets:
(continued)
Investments
in
Securities:
Common
Stocks:
Life
Sciences
Tools
&
Services
............
$
—
$
46,838,541
$
—
$
46,838,541
Media
...............................
40,214,682
78,068,698
—
118,283,380
Pharmaceuticals
.......................
53,658,142
—
—
53,658,142
Professional
Services
...................
9,303,000
42,485,859
—
51,788,859
Semiconductors
&
Semiconductor
Equipment
.
—
58,389,664
—
58,389,664
Software
.............................
108,060,900
70,454,912
—
178,515,812
Trading
Companies
&
Distributors
..........
—
37,126,539
—
37,126,539
Short
Term
Investments
...................
37,469,303
—
—
37,469,303
Total
Investments
in
Securities
...........
$358,343,067
$1,216,468,310
c
$—
$1,574,811,377
a
Includes
financial
instruments
determined
to
have
no
value
at
April
30,
2023.
b
The
Valuation
Committee
determined
that
based
on
their
analysis
of
the
market
and
access
to
market
participants,
the
Russian
financial
instruments
held
by
the
Fund
had
little
or
no
value
at
April
30,
2023.
c
Includes
foreign
securities
valued
at
$1,216,468,310,
which
were
categorized
as
Level
2
as
a
result
of
the
application
of
market
level
fair
value
procedures.
See
the
Financial
Instrument
Valuation
note
for
more
information.
Balance
at
Beginning
of
Period
Purchases
a
Sales
b
Transfer
Into
Level
3
c
Transfer
Out
of
Level
3
Net
Accretion
(Amortiza-
tion)
Net
Realized
Gain
(Loss)
Net
Unr
ealized
Appreciatio
n
(
Depreciation
)
Balance
at
End
of
Period
Net
Change
in
Unrealized
Appreciation
(Depreciation)
on
Assets
Held
at
Period
End
a
a
a
a
a
a
a
a
a
a
a
Franklin
Emerging
Market
Debt
Opportunities
Fund
Assets:
Investments
in
Securities:
Common
Stocks
:
Broadline
Retail
.....
$
—
d
$
—
$
—
$
—
$
—
$
—
$
—
$
—
$
—
d
$
—
Financial
Services
...
—
d
—
—
—
—
—
—
—
—
d
—
Warrants
:
Financial
Services
...
911,318
—
—
—
—
—
—
79,857
991,175
79,857
Private
Limited
Partnership
Funds
:
Capital
Markets
.....
—
d
—
—
—
—
—
—
—
—
d
—
Quasi-Sovereign
Bonds
:
1,745,112
d
—
(1,049,765)
—
—
—
(298,385)
375,816
772,778
d
78,699
Corporate
Bonds
:
Broadline
Retail
.....
—
d
—
—
—
—
—
—
—
—
d
—
Loan
Participations
and
Assignments
:
464,984
d
306,308
(95,698)
—
—
67
—
(70,922)
604,739
d
(128,911)
Foreign
Government
and
Agency
Securities
:
—
—
(192,857)
446,170
—
—
(449,517)
242,109
45,905
242,109
Escrows
and
Litigation
Trusts
:
—
d
—
—
—
—
—
—
—
—
d
—
Total
Investments
in
Securities
............
$3,121,414
$306,308
$(1,338,320)
$446,170
$—
$67
$(747,902)
$626,860
$2,414,597
$271,754
Other
Financial
Instruments:
a
Purchases
include
all
purchases
of
securities
and
securities
received
in
corporate
actions.
b
Sales
include
all
sales
of
securities,
maturities,
paydowns
and
securities
tendered
in
corporate
actions.
6. Fair
Value
Measurements
(continued)
Franklin
Global
Trust
Notes
to
Schedules
of
Investments
(unaudited)
14
Quarterly
Schedules
of
Investments
Significant
unobservable
valuation
inputs
for
material
Level
3
assets
and/or
liabilities
and
impact
to
fair
value
as
a
result
of
changes
in
unobservable
valuation
inputs
as
of
April
30,
2023,
are
as
follows:
c
Tansferred
into
level
3
as
a
result
of
the
unavailability
of
a
quoted
market
price
in
an
active
market
for
identical
securities
or
as
a
result
of
the
unreliability
of
the
foreign
exchange
rate
and
other
significant
observable
valuation
inputs.
May
include
amounts
related
to
a
corporate
action.
d
Includes
financial
instruments
determined
to
have
no
value.
Description
Fair
Value
at
End
of
Period
Valuation
Technique
Unobservable
Inputs
Amount
Impact
to
Fair
Value
if
Input
Increases
a
Franklin
Emerging
Market
Debt
Opportunities
Fund
Assets:
Investments
in
Securities:
Loan
Participations
and
Assignments
........
$604,739
Recovery
value
Discount
for
lack
of
marketability
30.0%
Decrease
PIK
Note
Coverage
56.6%
Increase
Warrants:
Diversified
Financial
Services
...........
991,175
Recovery
value
Implied
recovery
6.5%
Increase
All
other
............
818,683
b,c
Total
...............
$2,414,597
a
Represents
the
directional
change
in
the
fair
value
of
the
Level
3
financial
instruments
that
would
result
from
a
significant
and
reasonable
increase
in
the
corresponding
input.
A
significant
and
reasonable
decrease
in
the
input
would
have
the
opposite
effect.
Significant
increases
and
decreases
in
these
inputs
in
isolation
could
result
in
significantly
higher
or
lower
fair
value
measurements.
b
Includes
fair
value
of
immaterial
assets
and/or
liabilities
developed
using
various
valuation
techniques
and
unobservable
inputs.
May
also
include
values
derived
using
recent
transactions,
private
transaction
prices
or
non-public
third-party
pricing
information
which
is
unobservable.
c
Includes
financial
instruments
determined
to
have
no
value
at
April
30,
2023.
6. Fair
Value
Measurements
(continued)
Franklin
Global
Trust
Notes
to
Schedules
of
Investments
(unaudited)
15
Quarterly
Schedules
of
Investments
Abbreviations
Counterparty
CITI
Citibank
NA
RBCCM
Royal
Bank
of
Canada
Selected
Portfolio
ADR
American
Depositary
Receipt
FRN
Floating
Rate
Note
GDP
Gross
Domestic
Product
GDR
Global
Depositary
Receipt
PIK
Payment-In-Kind
PTN
Pass-through
Note
VRI
Value
Recovery
Instrument
Cu
r
rency
BRL
Brazilian
Real
COP
Colombian
Peso
DOP
Dominican
Peso
EUR
Euro
GEL
Georgian
Lari
HUF
Hungarian
Forint
IDR
Indonesian
Rupiah
JPY
Japanese
Yen
KZT
Kazakhstani
Tenge
MXN
Mexican
Peso
PEN
Peruvian
Nuevo
Sol
PLN
Polish
Zloty
RUB
Russian
Ruble
UYU
Uruguayan
Peso
UZS
Uzbekistani
Som
ZAR
South
African
Rand
For
additional
information
on
the
Funds'
significant
accounting
policies,
please
refer
to
the Funds'
most
recent
semiannual
or
annual
shareholder
report.