Franklin Global Trust NPORT-P Franklin International Growth Fund (Apr 2023 report)

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.