Saba Capital Income & Opportunities Fund II (SABA) NPORT-P Templeton Global Income Fund (Sep 2021 report)

Not

FDIC

Insured

May

Lose

Value

No

Bank

Guarantee

TLGIM-Q3PH

1

Statement

of

Investments

(unaudited)

Templeton

Global

Income

Fund

2

Notes

to

Statement

of

Investments

13

Templeton

Global

Income

Fund

Statement

of

Investments

(unaudited),

September

30,

2021

Quarterly

Statement

of

Investments

See

Notes

to

Statement

of

Investments.

2

a

a

Industry

Principal

Amount

*

a

Value

a

a

a

a

a

a

Foreign

Government

and

Agency

Securities

73.1%

Argentina

0.7%

a

Argentina

BONCER

,

Index

Linked,

1.2%,

3/18/22

.......

271,644,009

ARS

$

1,389,561

Index

Linked,

1.4%,

3/25/23

.......

280,719,931

ARS

1,354,286

Index

Linked,

1.45%,

8/13/23

......

10,041

ARS

48

Index

Linked,

1.5%,

3/25/24

.......

301,104,608

ARS

1,337,652

Argentina

Government

Bond,

15.5%,

10/17/26

.....................

512,895,000

ARS

1,012,094

5,093,641

Brazil

5.8%

Brazil

Notas

do

Tesouro

Nacional

,

10%,

1/01/25

..................

37,140,000

BRL

6,779,570

10%,

1/01/27

..................

121,360,000

BRL

21,788,553

10%,

1/01/29

..................

9,230,000

BRL

1,627,412

10%,

1/01/31

..................

77,560,000

BRL

13,381,451

43,576,986

China

4.7%

China

Government

Bond,

2.93%,

12/10/22

.....................

228,000,000

CNY

35,592,849

Colombia

4.2%

Colombia

Government

Bond

,

Senior

Bond,

4.375%,

3/21/23

.....

149,000,000

COP

39,267

Senior

Bond,

9.85%,

6/28/27

......

237,000,000

COP

72,977

Colombia

Titulos

de

Tesoreria

,

B,

7%,

5/04/22

.................

4,020,500,000

COP

1,082,532

B,

10%,

7/24/24

................

73,279,000,000

COP

21,487,236

B,

7.5%,

8/26/26

...............

10,320,300,000

COP

2,809,435

B,

6%,

4/28/28

.................

13,320,000,000

COP

3,292,807

B,

7.75%,

9/18/30

..............

9,129,700,000

COP

2,449,199

31,233,453

Ecuador

3.2%

b

Ecuador

Government

Bond

,

Senior

Note

,

144A,

0.5%,

7/31/30

..

5,633,000

4,731,776

Senior

Bond,

144A,

0.5%,

7/31/35

..

19,496,000

12,940,665

Senior

Bond,

144A,

0.5%,

7/31/40

..

10,291,000

5,988,179

23,660,620

Ghana

3.8%

Ghana

Government

Bond

,

18.75%,

1/24/22

................

8,600,000

GHS

1,448,509

17.6%,

11/28/22

................

150,000

GHS

25,372

Senior

Note,

17.6%,

2/20/23

......

10,130,000

GHS

1,709,753

18.85%,

9/28/23

................

13,670,000

GHS

2,327,497

19.25%,

11/27/23

...............

380,000

GHS

64,950

Senior

Note,

17.7%,

3/18/24

......

47,440,000

GHS

7,884,520

19.75%,

3/25/24

................

8,520,000

GHS

1,472,005

21.7%,

3/17/25

................

12,110,000

GHS

2,177,583

19.25%,

6/23/25

................

7,340,000

GHS

1,239,907

Senior

Note,

18.3%,

3/02/26

......

11,230,000

GHS

1,826,582

19%,

11/02/26

.................

25,560,000

GHS

4,205,415

19.75%,

3/15/32

................

25,560,000

GHS

4,312,793

28,694,886

Templeton

Global

Income

Fund

Statement

of

Investments

(unaudited)

See

Notes

to

Statement

of

Investments.

Quarterly

Statement

of

Investments

3

a

a

Industry

Principal

Amount

*

a

Value

a

a

a

a

a

a

Foreign

Government

and

Agency

Securities

(continued)

India

4.4%

India

Government

Bond

,

Senior

Note,

5.22%,

6/15/25

......

117,000,000

INR

$

1,572,883

7.59%,

1/11/26

.................

1,433,000,000

INR

20,748,264

7.27%,

4/08/26

................

79,000,000

INR

1,131,797

8.33%,

7/09/26

................

624,000,000

INR

9,292,495

32,745,439

Indonesia

11.7%

Indonesia

Government

Bond

,

FR43,

10.25%,

7/15/22

..........

4,826,000,000

IDR

355,343

FR63,

5.625%,

5/15/23

..........

436,562,000,000

IDR

31,333,332

FR46,

9.5%,

7/15/23

............

11,430,000,000

IDR

873,084

FR39,

11.75%,

8/15/23

..........

2,703,000,000

IDR

214,562

FR70,

8.375%,

3/15/24

..........

104,477,000,000

IDR

7,973,101

FR44,

10%,

9/15/24

.............

1,618,000,000

IDR

129,870

FR81,

6.5%,

6/15/25

............

201,654,000,000

IDR

14,814,964

FR86,

5.5%,

4/15/26

............

424,218,000,000

IDR

29,993,880

FR59,

7%,

5/15/27

..............

32,233,000,000

IDR

2,416,490

88,104,626

Mexico

3.7%

Mexican

Bonos

Desarr

Fixed

Rate

,

M,

Senior

Note,

7.25%,

12/09/21

...

297,180,000

MXN

14,440,466

M,

6.5%,

6/09/22

...............

232,730,000

MXN

11,340,169

M,

Senior

Bond,

8%,

12/07/23

.....

44,550,000

MXN

2,233,956

28,014,591

Norway

3.7%

b

Norway

Government

Bond

,

144A,

Reg

S,

2%,

5/24/23

........

102,083,000

NOK

11,903,926

144A,

Reg

S,

3%,

3/14/24

........

85,878,000

NOK

10,274,589

144A,

Reg

S,

1.75%,

3/13/25

......

28,937,000

NOK

3,364,350

144A,

Reg

S,

1.5%,

2/19/26

.......

17,165,000

NOK

1,975,219

27,518,084

Oman

1.9%

b

Oman

Government

Bond,

Senior

Bond,

144A,

4.75%,

6/15/26

............

13,650,000

14,024,720

Russia

4.9%

Russia

Government

Bond,

7%,

8/16/23

2,700,000,000

RUB

37,034,739

South

Korea

17.1%

Korea

Monetary

Stabilization

Bond,

Senior

Note

,

0.905%,

4/02/23

......

20,280,000,000

KRW

17,006,617

Korea

Treasury

Bond

,

2.25%,

9/10/23

................

19,359,000,000

KRW

16,598,010

0.875%,

12/10/23

...............

22,561,000,000

KRW

18,782,991

Senior

Note,

1.125%,

6/10/24

......

23,510,400,000

KRW

19,602,595

1.375%,

9/10/24

................

11,135,070,000

KRW

9,328,168

3%,

9/10/24

...................

5,310,000,000

KRW

4,656,758

1.875%,

6/10/26

................

50,619,000,000

KRW

42,547,529

128,522,668

Sri

Lanka

0.4%

b

Sri

Lanka

Government

Bond

,

Senior

Note,

144A,

5.75%,

4/18/23

..

200,000

132,808

Senior

Note,

144A,

6.35%,

6/28/24

..

400,000

256,672

Templeton

Global

Income

Fund

Statement

of

Investments

(unaudited)

Quarterly

Statement

of

Investments

See

Notes

to

Statement

of

Investments.

4

a

a

Industry

Principal

Amount

*

a

Value

a

a

a

a

a

a

Foreign

Government

and

Agency

Securities

(continued)

Sri

Lanka

(continued)

b

Sri

Lanka

Government

Bond,

(continued)

Senior

Bond,

144A,

6.85%,

11/03/25

960,000

$

605,702

Senior

Bond,

144A,

6.2%,

5/11/27

..

2,720,000

1,674,378

Senior

Bond,

144A,

6.75%,

4/18/28

.

210,000

128,717

Senior

Bond,

144A,

7.85%,

3/14/29

.

299,000

184,059

2,982,336

Supranational

1.2%

c

Inter-American

Development

Bank,

Senior

Bond,

7.5%,

12/05/24

......

185,000,000

MXN

9,104,141

Turkey

1.7%

Turkey

Government

Bond

,

13.9%,

11/09/22

................

56,290,000

TRY

6,123,021

12.2%,

1/18/23

................

3,790,000

TRY

402,457

7.1%,

3/08/23

.................

16,150,000

TRY

1,587,786

16.2%,

6/14/23

................

20,020,000

TRY

2,217,113

8.8%,

9/27/23

.................

10,390,000

TRY

1,006,882

10.4%,

3/20/24

................

880,000

TRY

85,577

12.6%,

10/01/25

................

9,710,000

TRY

932,792

12,355,628

Total

Foreign

Government

and

Agency

Securities

(Cost

$599,478,078)

............

548,259,407

Number

of

Contracts

Notional

Amount

#

a

a

aa

Options

Purchased

0.5%

Calls

-

Over-the-Counter

Currency

Options

Foreign

Exchange

AUD/JPY,

Counterparty

CITI,

December

Strike

Price

86.50

JPY,

Expires

12/20/21

..

1

6,752,000

AUD

4,034

Foreign

Exchange

USD/JPY,

Counterparty

CITI,

February

Strike

Price

107.45

JPY,

Expires

2/23/22

..

1

5,966,000

226,807

Foreign

Exchange

USD/JPY,

Counterparty

CITI,

July

Strike

Price

115.55

JPY,

Expires

7/18/22

.......

1

17,616,000

135,565

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

October

Strike

Price

20.98

MXN,

Expires

10/07/21

.

1

12,159,000

28,657

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

March

Strike

Price

21.03

MXN,

Expires

3/04/22

..

1

4,707,000

143,970

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

February

Strike

Price

21.41

MXN,

Expires

2/03/22

..

1

9,213,000

179,225

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

December

Strike

Price

21.60

MXN,

Expires

12/28/21

.

1

4,485,000

52,033

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

June

Strike

Price

22.02

MXN,

Expires

6/09/22

..

1

9,298,000

258,468

Templeton

Global

Income

Fund

Statement

of

Investments

(unaudited)

See

Notes

to

Statement

of

Investments.

Quarterly

Statement

of

Investments

5

a

a

Number

of

Contracts

Notional

Amount

#

a

Value

a

a

a

a

aa

a

a

Options

Purchased

(continued)

Calls

-

Over-the-Counter

(continued)

Currency

Options

(continued)

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

August

Strike

Price

22.32

MXN,

Expires

8/29/22

..

1

3,589,000

$

120,215

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

December

Strike

Price

23.44

MXN,

Expires

12/22/22

.

1

11,158,000

355,887

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

October

Strike

Price

26.30

MXN,

Expires

10/19/23

.

1

974,000

31,765

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

October

Strike

Price

26.30

MXN,

Expires

10/19/23

.

1

2,917,000

95,132

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

October

Strike

Price

26.30

MXN,

Expires

10/19/23

.

1

2,917,000

95,132

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

August

Strike

Price

29.19

MXN,

Expires

8/29/24

..

1

5,093,000

172,430

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

August

Strike

Price

29.71

MXN,

Expires

8/09/24

..

1

5,093,000

153,585

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

December

Strike

Price

29.73

MXN,

Expires

12/07/21

.

1

6,145,000

383

2,053,288

Puts

-

Over-the-Counter

Currency

Options

Foreign

Exchange

AUD/JPY,

Counterparty

CITI,

December

Strike

Price

75.00

JPY,

Expires

12/20/21

..

1

13,504,000

AUD

29,855

Foreign

Exchange

AUD/JPY,

Counterparty

CITI,

June

Strike

Price

79.55

JPY,

Expires

6/03/22

.......

1

52,638,000

AUD

1,085,639

Foreign

Exchange

AUD/JPY,

Counterparty

CITI,

December

Strike

Price

81.61

JPY,

Expires

12/14/21

..

1

11,950,000

AUD

217,634

Foreign

Exchange

USD/JPY,

Counterparty

CITI,

July

Strike

Price

108.65

JPY,

Expires

7/18/22

......

1

26,440,000

361,461

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

June

Strike

Price

18.70

MXN,

Expires

6/09/22

..

1

5,566,000

9,724

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

October

Strike

Price

18.76

MXN,

Expires

10/27/21

.

1

6,790,000

56

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

June

Strike

Price

19.04

MXN,

Expires

6/09/22

..

1

5,566,000

15,642

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

February

Strike

Price

19.37

MXN,

Expires

2/24/22

..

1

1,794,000

4,620

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

August

Strike

Price

19.41

MXN,

Expires

8/11/22

..

1

2,102,000

11,540

Templeton

Global

Income

Fund

Statement

of

Investments

(unaudited)

Quarterly

Statement

of

Investments

See

Notes

to

Statement

of

Investments.

6

a

a

Number

of

Contracts

Notional

Amount

#

a

Value

a

a

a

a

aa

a

a

Options

Purchased

(continued)

Puts

-

Over-the-Counter

(continued)

Currency

Options

(continued)

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

October

Strike

Price

19.58

MXN,

Expires

10/07/21

.

1

6,015,000

$

13

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

October

Strike

Price

19.85

MXN,

Expires

10/19/23

.

1

1,458,000

14,840

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

October

Strike

Price

19.85

MXN,

Expires

10/19/23

.

1

488,000

4,967

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

October

Strike

Price

19.85

MXN,

Expires

10/19/23

.

1

1,458,000

14,840

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

November

Strike

Price

20.34

MXN,

Expires

11/09/21

.

1

2,875,000

15,860

1,786,691

Total

Options

Purchased

(Cost

$5,408,854)

.....................................

3,839,979

Short

Term

Investments

20.6%

a

a

Principal

Amount

*

a

Value

a

a

a

a

a

a

Foreign

Government

and

Agency

Securities

15.2%

Brazil

3.4%

d

Brazil

Letras

do

Tesouro

Nacional

,

7/01/24

......................

24,730,000

BRL

3,489,358

d

Brazil

Notas

do

Tesouro

Nacional

,

1/01/25

......................

165,550,000

BRL

22,167,551

25,656,909

Egypt

2.5%

d

Egypt

Treasury

Bills

,

10/05/21

.....................

61,200,000

EGP

3,897,103

12/14/21

.....................

206,000,000

EGP

12,818,685

2/22/22

......................

22,500,000

EGP

1,371,178

e

6/14/22

......................

12,600,000

EGP

739,966

18,826,932

Japan

4.7%

d

Japan

Treasury

Bills

,

10/25/21

.....................

94,000,000

JPY

844,664

11/22/21

.....................

1,475,950,000

JPY

13,263,783

12/20/21

.....................

1,690,550,000

JPY

15,193,762

2/10/22

......................

642,300,000

JPY

5,773,634

35,075,843

Singapore

4.6%

d

Singapore

Treasury

Bills

,

10/15/21

.....................

15,710,000

SGD

11,568,763

11/12/21

.....................

2,240,000

SGD

1,649,204

Templeton

Global

Income

Fund

Statement

of

Investments

(unaudited)

See

Notes

to

Statement

of

Investments.

Quarterly

Statement

of

Investments

7

Short

Term

Investments

(continued)

a

a

Principal

Amount

*

a

Value

a

a

a

a

a

a

Foreign

Government

and

Agency

Securities

(continued)

Singapore

(continued)

d

Singapore

Treasury

Bills,

(continued)

11/19/21

.....................

28,950,000

SGD

$

21,313,364

34,531,331

Total

Foreign

Government

and

Agency

Securities

(Cost

$118,612,484)

.............

114,091,015

Industry

Shares

Money

Market

Funds

5.4%

United

States

5.4%

f,g

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

0.01%

..........

40,262,414

40,262,414

Total

Money

Market

Funds

(Cost

$40,262,414)

..................................

40,262,414

a

a

a

a

a

Total

Short

Term

Investments

(Cost

$158,874,898

)

...............................

154,353,429

a

a

a

Total

Investments

(Cost

$763,761,830)

94.2%

...................................

$706,452,815

Options

Written

(0.3)%

.......................................................

(2,261,705)

Other

Assets,

less

Liabilities

6.1%

.............................................

46,023,131

Net

Assets

100.0%

...........................................................

$750,214,241

a

a

a

a

Number

of

Contracts

Notional

Amount

#

a

a

a

a

a

Options

Written

(0.3)%

a

Calls

-

Over-the-Counter

a

Currency

Options

Foreign

Exchange

AUD/JPY,

Counterparty

CITI,

December

Strike

Price

81.20

JPY,

Expires

12/20/21

..

1

6,752,000

AUD

(64,811)

Foreign

Exchange

AUD/JPY,

Counterparty

CITI,

March

Strike

Price

83.40

JPY,

Expires

3/03/22

.......

1

8,773,000

AUD

(62,408)

Foreign

Exchange

USD/JPY,

Counterparty

CITI,

July

Strike

Price

111.25

JPY,

Expires

7/18/22

.......

1

26,440,000

(552,442)

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

November

Strike

Price

20.34

MXN,

Expires

11/09/21

.

1

2,875,000

(73,675)

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

March

Strike

Price

20.56

MXN,

Expires

3/04/22

..

1

1,765,000

(74,108)

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

February

Strike

Price

20.86

MXN,

Expires

2/03/22

..

1

3,071,000

(90,242)

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

February

Strike

Price

21.71

MXN,

Expires

2/24/22

..

1

2,063,000

(37,945)

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

August

Strike

Price

22.06

MXN,

Expires

8/11/22

..

1

2,102,000

(74,026)

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

March

Strike

Price

22.55

MXN,

Expires

3/04/22

..

1

1,765,000

(20,081)

Templeton

Global

Income

Fund

Statement

of

Investments

(unaudited)

Quarterly

Statement

of

Investments

See

Notes

to

Statement

of

Investments.

8

a

a

a

Number

of

Contracts

Notional

Amount

#

a

Value

a

a

a

a

a

a

Options

Written

(continued)

a

Calls

-

Over-the-Counter

(continued)

a

Currency

Options

(continued)

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

October

Strike

Price

22.61

MXN,

Expires

10/07/21

.

1

6,079,000

$

(150)

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

February

Strike

Price

22.73

MXN,

Expires

2/03/22

..

1

6,142,000

(48,779)

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

December

Strike

Price

22.75

MXN,

Expires

12/22/22

.

1

2,317,000

(94,001)

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

December

Strike

Price

22.75

MXN,

Expires

12/22/22

.

1

1,031,000

(41,828)

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

December

Strike

Price

23.08

MXN,

Expires

12/28/21

.

1

1,496,000

(5,219)

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

December

Strike

Price

24.95

MXN,

Expires

12/22/22

.

1

3,347,000

(66,418)

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

June

Strike

Price

25.41

MXN,

Expires

6/09/22

..

1

7,420,000

(47,331)

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

December

Strike

Price

27.93

MXN,

Expires

12/07/21

.

1

2,048,000

(266)

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

October

Strike

Price

34.95

MXN,

Expires

10/19/23

.

1

302,000

(2,388)

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

October

Strike

Price

34.95

MXN,

Expires

10/19/23

.

1

1,458,000

(11,531)

(1,367,649)

Puts

-

Over-the-Counter

Currency

Options

Foreign

Exchange

AUD/JPY,

Counterparty

CITI,

December

Strike

Price

68.40

JPY,

Expires

12/20/21

..

1

6,752,000

AUD

(1,982)

Foreign

Exchange

AUD/JPY,

Counterparty

CITI,

June

Strike

Price

73.30

JPY,

Expires

6/03/22

.......

1

26,319,000

AUD

(183,549)

Foreign

Exchange

AUD/JPY,

Counterparty

CITI,

December

Strike

Price

78.33

JPY,

Expires

12/14/21

..

1

17,943,000

AUD

(111,405)

Foreign

Exchange

USD/JPY,

Counterparty

CITI,

February

Strike

Price

95.85

JPY,

Expires

2/23/22

...

1

5,966,000

(1,067)

Foreign

Exchange

USD/JPY,

Counterparty

CITI,

January

Strike

Price

108.05

JPY,

Expires

1/18/22

..

1

8,824,000

(36,451)

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

October

Strike

Price

19.05

MXN,

Expires

10/07/21

.

1

6,015,000

—

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

October

Strike

Price

19.32

MXN,

Expires

10/07/21

.

1

10,936,000

(4)

Templeton

Global

Income

Fund

Statement

of

Investments

(unaudited)

See

Notes

to

Statement

of

Investments.

Quarterly

Statement

of

Investments

9

a

a

a

Number

of

Contracts

Notional

Amount

#

a

Value

a

a

a

a

a

a

Options

Written

(continued)

a

Puts

-

Over-the-Counter

(continued)

a

Currency

Options

(continued)

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

October

Strike

Price

19.71

MXN,

Expires

10/27/21

.

1

6,790,000

$

(2,322)

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

June

Strike

Price

19.84

MXN,

Expires

6/09/22

..

1

9,298,000

(74,133)

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

December

Strike

Price

19.93

MXN,

Expires

12/22/22

.

1

1,031,000

(10,841)

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

December

Strike

Price

19.93

MXN,

Expires

12/22/22

.

1

2,317,000

(24,364)

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

August

Strike

Price

20.50

MXN,

Expires

8/11/22

..

1

2,102,000

(35,867)

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

August

Strike

Price

21.35

MXN,

Expires

8/29/22

..

1

3,589,000

(122,982)

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

October

Strike

Price

22.32

MXN,

Expires

10/19/23

.

1

974,000

(41,359)

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

October

Strike

Price

22.32

MXN,

Expires

10/19/23

.

1

2,917,000

(123,865)

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

October

Strike

Price

22.32

MXN,

Expires

10/19/23

.

1

2,917,000

(123,865)

(894,056)

Total

Options

Written

(Premiums

received

$3,047,914)

...........................

$

(2,261,705)

#

Notional

amount

is

the

number

of

units

specified

in

the

contract,

and

can

include

currency

units,

bushels,

shares,

pounds,

barrels

or

other

units.

Currency

units

are

stated

in

U.S.

dollars

unless

otherwise

indicated.

*

The

principal

amount

is

stated

in

U.S.

dollars

unless

otherwise

indicated.

a

Redemption

price

at

maturity

is

adjusted

for

inflation.

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

September

30,

2021,

the

aggregate

value

of

these

securities

was

$68,185,760,

representing

9.1%

of

net

assets.

c

A

supranational

organization

is

an

entity

formed

by

two

or

more

central

governments

through

international

treaties.

d

The

security

was

issued

on

a

discount

basis

with

no

stated

coupon

rate.

e

A

portion

or

all

of

the

security

purchased

on

a

delayed

delivery

basis.

f

See

Note

6

regarding

investments

in

affiliated

management

investment

companies.

g

The

rate

shown

is

the

annualized

seven-day

effective

yield

at

period

end.

Templeton

Global

Income

Fund

Statement

of

Investments

(unaudited)

Quarterly

Statement

of

Investments

See

Notes

to

Statement

of

Investments.

10

At

September

30,

2021,

the

Fund

had

the

following

forward

exchange

contracts

outstanding.

See

Note

3. 

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

Mexican

Peso

......

CITI

Buy

151,635,500

7,362,734

10/01/21

$

—

$

(18,027)

Mexican

Peso

......

CITI

Sell

151,635,500

7,564,377

10/01/21

219,671

—

Chilean

Peso

......

GSCO

Buy

1,220,596,866

1,583,463

10/04/21

—

(79,524)

Chilean

Peso

......

GSCO

Sell

1,220,596,866

1,523,176

10/04/21

19,237

—

Chilean

Peso

......

JPHQ

Buy

2,054,490,000

2,785,787

10/04/21

—

(254,380)

Chilean

Peso

......

JPHQ

Sell

2,054,490,000

2,603,586

10/04/21

72,179

—

Euro

.............

DBAB

Sell

8,814,402

90,410,200

SEK

10/06/21

120,239

—

Swedish

Krona

.....

DBAB

Sell

90,410,200

8,886,314

EUR

10/06/21

—

(36,940)

Indian

Rupee

......

JPHQ

Buy

264,184,500

3,606,319

10/07/21

—

(46,197)

Indian

Rupee

......

CITI

Buy

256,676,200

3,503,753

10/08/21

—

(45,381)

Indian

Rupee

......

JPHQ

Buy

106,826,200

1,458,179

10/08/21

—

(18,837)

Indian

Rupee

......

CITI

Buy

230,576,200

3,146,295

10/12/21

—

(41,629)

Indian

Rupee

......

HSBK

Buy

96,812,500

1,288,634

10/12/21

14,928

—

Mexican

Peso

......

CITI

Buy

45,512,000

2,264,222

10/12/21

—

(62,469)

Mexican

Peso

......

CITI

Sell

45,512,000

2,254,152

10/12/21

52,398

—

Chilean

Peso

......

JPHQ

Buy

4,585,200,000

5,925,945

10/13/21

—

(280,239)

Euro

.............

DBAB

Sell

1,653,696

16,857,450

SEK

10/13/21

10,418

—

Euro

.............

HSBK

Sell

252,375

300,048

10/13/21

7,668

—

Chilean

Peso

......

GSCO

Buy

1,357,150,000

1,821,556

10/14/21

—

(150,639)

Euro

.............

DBAB

Sell

1,245,994

12,643,100

SEK

10/18/21

1,089

—

Euro

.............

DBAB

Sell

1,245,613

12,643,100

SEK

10/19/21

1,511

—

Euro

.............

JPHQ

Sell

6,370,447

64,197,700

NOK

10/19/21

—

(37,687)

Norwegian

Krone

...

JPHQ

Sell

64,197,700

6,378,850

EUR

10/19/21

47,424

—

Singapore

Dollar

....

MSCO

Buy

2,010,000

1,505,793

10/21/21

—

(25,561)

Euro

.............

HSBK

Sell

7,080,070

893,186,201

JPY

10/25/21

—

(177,885)

Singapore

Dollar

....

CITI

Buy

1,600,000

1,204,366

10/26/21

—

(26,083)

Euro

.............

JPHQ

Sell

33,330

39,499

10/27/21

874

—

Chilean

Peso

......

JPHQ

Buy

4,430,680,000

5,607,625

10/29/21

—

(158,832)

Mexican

Peso

......

CITI

Sell

151,635,500

7,532,063

11/01/21

218,756

—

Euro

.............

HSBK

Sell

12,307,723

18,320,445

CAD

11/03/21

195,829

—

Euro

.............

JPHQ

Sell

702,861

1,043,246

CAD

11/03/21

8,827

—

Chilean

Peso

......

GSCO

Buy

1,952,776,866

2,523,218

11/04/21

—

(122,831)

Chilean

Peso

......

GSCO

Buy

1,761,394,822

2,266,801

11/05/21

—

(101,842)

Indian

Rupee

......

CITI

Buy

192,009,900

2,520,807

11/10/21

53,341

—

Australian

Dollar

....

CITI

Sell

7,142,000

5,264,761

11/15/21

102,673

—

Australian

Dollar

....

MSCO

Sell

5,158,000

3,787,468

11/16/21

59,359

—

Australian

Dollar

....

HSBK

Sell

7,134,989

5,519,271

11/17/21

362,210

—

Euro

.............

DBAB

Sell

19,217,155

195,678,681

SEK

11/17/21

85,951

—

Euro

.............

HSBK

Sell

5,480,000

6,646,034

11/17/21

292,787

—

Euro

.............

JPHQ

Sell

14,358,818

145,630,000

SEK

11/17/21

—

(1,917)

Swedish

Krona

.....

DBAB

Sell

29,390,000

2,887,257

EUR

11/17/21

—

(11,828)

Australian

Dollar

....

JPHQ

Sell

7,190,000

5,553,793

11/18/21

356,951

—

Euro

.............

CITI

Sell

5,480,000

6,641,130

11/18/21

287,755

—

Euro

.............

JPHQ

Sell

17,151,764

25,310,000

CAD

11/22/21

90,294

—

Euro

.............

JPHQ

Sell

2,107,379

2,580,317

11/24/21

136,779

—

Chilean

Peso

......

GSCO

Buy

3,128,440,047

3,977,623

11/30/21

—

(140,269)

Mexican

Peso

......

CITI

Sell

151,635,500

7,297,185

12/01/21

17,379

—

Chinese

Yuan

......

CITI

Buy

135,663,370

20,852,681

12/10/21

72,929

—

Chinese

Yuan

......

BOFA

Buy

105,222,910

16,167,992

12/13/21

58,281

—

Euro

.............

DBAB

Sell

3,343,435

33,714,869

SEK

12/13/21

—

(23,817)

Chilean

Peso

......

GSCO

Buy

4,229,800,151

5,415,184

12/15/21

—

(233,882)

Chinese

Yuan

......

HSBK

Buy

16,868,120

2,606,766

12/15/21

—

(5,985)

Euro

.............

DBAB

Sell

2,482,239

25,292,300

SEK

12/15/21

12,193

—

Templeton

Global

Income

Fund

Statement

of

Investments

(unaudited)

See

Notes

to

Statement

of

Investments.

Quarterly

Statement

of

Investments

11

Forward

Exchange

Contracts

(continued)

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

(continued)

Indian

Rupee

......

HSBK

Buy

97,083,330

1,316,027

12/15/21

$

—

$

(19,297)

Mexican

Peso

......

MSCO

Sell

52,702,500

2,588,188

12/15/21

62,686

—

Euro

.............

DBAB

Sell

8,443,090

85,425,497

SEK

12/16/21

—

(27,633)

Euro

.............

JPHQ

Sell

1,076,576

10,890,000

SEK

12/17/21

—

(3,828)

Indian

Rupee

......

JPHQ

Buy

1,604,400,000

21,373,761

12/20/21

44,329

—

New

Zealand

Dollar

.

JPHQ

Buy

12,160,000

8,674,470

12/20/21

—

(287,566)

New

Zealand

Dollar

.

BOFA

Buy

3,690,000

2,604,955

12/21/21

—

(59,944)

New

Zealand

Dollar

.

CITI

Buy

4,340,000

3,075,541

12/21/21

—

(82,221)

New

Zealand

Dollar

.

JPHQ

Buy

4,340,000

3,068,341

12/21/21

—

(75,021)

Chilean

Peso

......

GSCO

Buy

2,473,070,000

3,342,443

12/23/21

—

(315,277)

Chilean

Peso

......

GSCO

Buy

615,040,000

772,741

12/28/21

—

(20,246)

Euro

.............

SCNY

Sell

1,325,806

1,580,830

1/07/22

41,678

—

Chinese

Yuan

......

CITI

Buy

44,380,340

6,761,173

1/12/22

66,095

—

Chilean

Peso

......

JPHQ

Buy

3,782,900,000

4,764,358

1/13/22

—

(142,607)

Chilean

Peso

......

GSCO

Buy

1,220,596,866

1,510,640

1/14/22

—

(19,508)

Euro

.............

DBAB

Sell

1,035,848

10,535,921

SEK

1/18/22

2,538

—

Euro

.............

JPHQ

Sell

10,967,977

111,598,400

NOK

1/21/22

16,581

—

Norwegian

Krone

...

JPHQ

Sell

82,400,000

8,162,457

EUR

1/21/22

62,217

—

Euro

.............

UBSW

Sell

513,907

607,232

1/24/22

10,422

—

Singapore

Dollar

....

MSCO

Buy

1,590,000

1,170,426

1/24/22

264

—

Indian

Rupee

......

JPHQ

Buy

263,438,700

3,412,860

1/27/22

87,325

—

Euro

.............

HSBK

Sell

4,550,000

5,389,252

1/31/22

104,497

—

Euro

.............

CITI

Sell

7,220,457

10,739,310

CAD

2/03/22

90,310

—

Euro

.............

HSBK

Sell

4,942,339

7,326,573

CAD

2/03/22

42,564

—

Euro

.............

JPHQ

Sell

701,417

1,043,246

CAD

2/03/22

8,770

—

Euro

.............

CITI

Sell

10,419,412

1,350,022,368

JPY

2/07/22

42,630

—

Chilean

Peso

......

GSCO

Buy

2,394,434,956

3,032,466

2/11/22

—

(114,509)

Euro

.............

CITI

Sell

2,300,000

2,710,762

2/16/22

38,478

—

Euro

.............

JPHQ

Sell

2,101,396

21,921,200

NOK

2/16/22

62,500

—

Indian

Rupee

......

SCNY

Buy

1,470,000,000

19,352,367

2/18/22

121,725

—

South

Korean

Won

..

CITI

Buy

51,670,000,000

44,879,701

2/18/22

—

(1,328,350)

South

Korean

Won

..

CITI

Sell

17,618,000,000

15,304,031

2/18/22

454,259

—

Chinese

Yuan

......

JPHQ

Buy

150,960,000

22,968,429

2/22/22

180,481

—

Euro

.............

CITI

Sell

3,539,153

454,855,431

JPY

2/24/22

—

(19,700)

Euro

.............

MSCO

Sell

1,215,000

1,433,657

2/28/22

21,650

—

Chinese

Yuan

......

BOFA

Buy

87,762,900

13,418,993

3/09/22

23,222

—

Japanese

Yen

......

HSBK

Buy

244,569,190

2,231,735

3/09/22

—

(30,763)

Euro

.............

DBAB

Sell

2,609,308

26,731,500

NOK

3/15/22

18,852

—

Euro

.............

DBAB

Sell

1,035,122

10,535,883

SEK

3/16/22

2,445

—

Euro

.............

JPHQ

Sell

6,267,654

64,197,700

NOK

3/16/22

43,606

—

Russian

Ruble

.....

MSCO

Buy

146,000,000

1,923,330

3/21/22

22,114

—

Euro

.............

CITI

Sell

11,903,968

1,554,289,253

JPY

3/31/22

147,350

—

Euro

.............

HSBK

Sell

4,932,433

7,326,636

CAD

5/03/22

41,734

—

Euro

.............

JPHQ

Sell

700,204

1,043,550

CAD

5/03/22

8,660

—

Chilean

Peso

......

GSCO

Buy

2,292,067,510

2,889,719

5/11/22

—

(118,869)

Euro

.............

JPHQ

Sell

21,977,541

230,351,000

NOK

5/19/22

681,417

—

Euro

.............

DBAB

Sell

2,498,422

25,262,800

SEK

6/15/22

—

(17,136)

Euro

.............

DBAB

Sell

2,619,465

26,672,700

NOK

6/15/22

—

(11,633)

Euro

.............

DBAB

Sell

4,004,606

40,777,700

NOK

6/16/22

—

(17,899)

Euro

.............

DBAB

Sell

3,490,223

35,735,000

NOK

6/20/22

5,912

—

Euro

.............

CITI

Sell

3,111,992

32,042,000

NOK

6/21/22

25,570

—

Total

Forward

Exchange

Contracts

...................................................

$5,562,811

$(4,814,688)

Net

unrealized

appreciation

(depreciation)

............................................

$748,123

Templeton

Global

Income

Fund

Statement

of

Investments

(unaudited)

Quarterly

Statement

of

Investments

See

Notes

to

Statement

of

Investments.

12

See

A

bbreviations

on

page

18

.

*

In

U.S.

dollars

unless

otherwise

indicated.

a

May

be

comprised

of

multiple

contracts

with

the

same

counterparty,

currency

and

settlement

date.

Templeton

Global

Income

Fund

13

Quarterly

Statement

of

Investments

Notes

to

Statement

of

Investments

(unaudited)

1.

Organization

Templeton

Global

Income

Fund (Fund)

is

registered

under

the

Investment

Company

Act

of

1940

(1940

Act)

as

a

closed-end

management

investment

company

and

applies

the

specialized

accounting

and

reporting

guidance

in

U.S.

Generally

Accepted

Accounting

Principles

(U.S.

GAAP). 

2. Financial

Instrument

Valuation

The

Fund's 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

Fund

calculates 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

Fund’s

Board

of

Trustees

(the

Board),

the

Fund’s

administrator

has

responsibility

for

oversight

of

valuation,

including

leading

the

cross-functional

Valuation

Committee

(VC).

The

Fund

may

utilize

independent

pricing

services,

quotations

from

securities

and

financial

instrument

dealers,

and

other

market

sources

to

determine

fair

value. 

Debt

securities

generally

trade

in

the

over-the-counter

(OTC)

market

rather

than

on

a

securities

exchange.

The Fund's

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

are

centrally

cleared

or

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

Fund

has procedures

to

determine

the

fair

value

of

financial

instruments

for

which

market

prices

are

not

reliable

or

readily

available.

Under

these

procedures,

the

Fund

primarily employs

a

market-based

approach

which

may

use

related

or

comparable

assets

or

liabilities,

recent

transactions,

market

multiples,

book

values,

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

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. 

3.

Derivative

Financial

Instruments

The

Fund

invested

in

derivative

financial

instruments

in

order

to

manage

risk

or

gain

exposure

to

various

other

investments

or

markets.

Derivatives

are

financial

contracts

based

on

an

underlying

or

notional

amount,

require

no

initial

investment

or

an

initial

net

investment

that

is

smaller

than

would

normally

be

required

to

have

a

similar

response

to

changes

in

market

factors,

and

require

or

permit

net

settlement.

Derivatives

contain

various

risks

including

the

potential

inability

of

the

counterparty

to

fulfill

their

obligations

under

the

terms

of

the

contract,

the

potential

for

an

illiquid

secondary

market,

and/or

the

potential

for

market

movements.

Templeton

Global

Income

Fund

Notes

to

Statement

of

Investments

(unaudited)

14

Quarterly

Statement

of

Investments

Derivative

counterparty

credit

risk

is

managed

through

a

formal

evaluation

of

the

creditworthiness

of

all

potential

counterparties. The

Fund

attempts

to

reduce

its

exposure

to

counterparty

credit

risk

on

OTC

derivatives,

whenever

possible,

by

entering

into

International

Swaps

and

Derivatives

Association

(ISDA)

master

agreements

with

certain

counterparties.

These

agreements

contain

various

provisions,

including

but

not

limited

to

collateral

requirements,

events

of

default,

or

early

termination.

Termination

events

applicable

to

the

counterparty

include

certain

deteriorations

in

the

credit

quality

of

the

counterparty.

Termination

events

applicable

to

the

Fund

include

failure

of

the

Fund

to

maintain

certain

net

asset

levels

and/

or

limit

the

decline

in

net

assets

over

various

periods

of

time.

In

the

event

of

default

or

early

termination,

the

ISDA

master

agreement

gives

the

non-defaulting

party

the

right

to

net

and

close-out

all

transactions

traded,

whether

or

not

arising

under

the

ISDA

agreement,

to

one

net

amount

payable

by

one

counterparty

to

the

other.

Early

termination

by

the

counterparty

may

result

in

an

immediate

payment

by

the

Fund

of

any

net

liability

owed

to

that

counterparty

under

the

ISDA

agreement. 

Collateral

requirements

differ

by

type

of

derivative.

Collateral

terms

are

contract

specific

for

OTC

derivatives.

For

OTC

derivatives

traded

under

an

ISDA

master

agreement,

posting

of

collateral

is

required

by

either

the

Fund

or

the

applicable

counterparty

if

the

total

net

exposure

of

all

OTC

derivatives

with

the

applicable

counterparty

exceeds

the

minimum

transfer

amount,

which

typically

ranges

from

$100,000

to

$250,000,

and

can

vary

depending

on

the

counterparty

and

the

type

of

the

agreement.

Generally,

collateral

is

determined

at

the

close

of

Fund

business

each

day

and

any

additional

collateral

required

due

to

changes

in

derivative

values

may

be

delivered

by

the

Fund

or

the

counterparty

the

next

business

day,

or

within

a

few

business

days.

Collateral

pledged

and/or

received

by

the

Fund,

if

any,

is

held

in

segregated

accounts

with

the

Fund’s

custodian/counterparty

broker

and

can

be

in

the

form

of

cash

and/or

securities.

Unrestricted

cash

may

be

invested

according

to

the

Fund’s

investment

objectives.

To

the

extent

that

the

amounts

due

to

the

Fund

from

its

counterparties

are

not

subject

to

collateralization

or

are

not

fully

collateralized,

the

Fund

bears

the

risk

of

loss

from

counterparty

non-performance.

At

September

30,

2021, the

Fund

received

$199,581

in

United

Kingdom

Inflation-Linked

Gilt

and

U.S.

Treasury

Bonds

and

Notes

as

collateral

for

derivatives.

The

Fund entered

into

OTC

forward

exchange

contracts

primarily

to

manage

and/or

gain

exposure

to

certain

foreign

currencies.

A

forward

exchange

contract

is

an

agreement

between

the

Fund

and

a

counterparty

to

buy

or

sell

a

foreign

currency at

a

specific

exchange

rate

on

a

future

date. 

The

Fund

purchased

or

wrote

OTC

option

contracts

primarily

to

manage

and/or

gain

exposure

to

foreign

exchange

rate

risk.

An

option

is

a

contract

entitling

the

holder

to

purchase

or

sell

a

specific

amount

of

shares

or

units

of

an

asset

or

notional

amount

of

a

swap

(swaption),

at

a

specified

price.

When

an

option

is

purchased

or

written,

an

amount

equal

to

the

premium

paid

or

received

is

recorded

as

an

asset

or

liability,

respectively.

Upon

exercise

of

an

option,

the

acquisition

cost

or

sales

proceeds

of

the

underlying

investment

is

adjusted

by

any

premium

received

or

paid.

Upon

expiration

of

an

option,

any

premium

received

or

paid

is

recorded

as

a

realized

gain

or

loss.

Upon

closing

an

option

other

than

through

expiration

or

exercise,

the

difference

between

the

premium

received

or

paid

and

the

cost

to

close

the

position

is

recorded

as

a

realized

gain

or

loss. 

4.

Concentration

of

Risk 

Investments

in

issuers

domiciled

or

with

significant

operations

in

developing

or

emerging

market

countries

may

be

subject

to

higher

risks

than

investments

in

developed

countries.

These

risks

include

fluctuating

currency

values,

underdeveloped

legal

or

business

systems,

and

changing

local

and

regional

economic,

political

and

social

conditions,

which

may

result

in

greater

market

volatility.

In

addition,

certain

foreign

securities

may

not

be

as

liquid

as

U.S.

securities.

Currencies

of

developing

or

emerging

market

countries

may

be

subject

to

significantly

greater

risks

than

currencies

of

developed

countries,

including

the

potential

inability

to

repatriate

those

currencies

into

U.S.

dollars.

3.

Derivative

Financial

Instruments

(continued)

Templeton

Global

Income

Fund

Notes

to

Statement

of

Investments

(unaudited)

15

Quarterly

Statement

of

Investments

At

September

30,

2021,

the

Fund

had

1.2%

of

its

net

assets

denominated

in

Argentine

Pesos.

Argentina

has

restricted

currency

repatriation

since

September

2019,

and

had

restructured

certain

issues

of

its

debt.

Political

and

economic

conditions

in

Argentina

could

continue

to

affect

the

value

of

the

Fund's

holdings.

5.

Novel

Coronavirus

Pandemic 

The

global

outbreak

of

the

novel

coronavirus

disease,

known

as

COVID-19, has

caused

adverse

effects

on

many

companies,

sectors,

nations,

regions

and

the

markets

in

general, and

may

continue for

an unpredictable duration.

The

effects

of

this

pandemic

may

materially

impact

the

value

and

performance

of

the Fund, its ability

to

buy

and

sell

fund

investments

at

appropriate

valuations

and its ability

to

achieve its investment

objectives.

6.

Investments

in

Affiliated

Management

Investment

Companies 

The

Fund

invests

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

Fund

does

not

invest  for

purposes

of

exercising

a

controlling

influence

over

the

management

or

policies.

During

the

period

ended

September

30,

2021,

the

Fund

held

investments

in

affiliated

management

investment

companies

as

follows: 

7. Fair

Value

Measurements 

The

Fund

follows

a

fair

value

hierarchy

that

distinguishes

between

market

data

obtained

from

independent

sources

(observable

inputs)

and

the

Fund's

own

market

assumptions

(unobservable

inputs).

These

inputs

are

used

in

determining

the

value

of

the

Fund's

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

Fund's own

assumptions

in

determining

the

fair

value

of

financial

instruments)

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

September

30,

2021,

in

valuing

the

Fund's

assets

and

liabilities

carried

at

fair

value,

is

as

follows:

    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  

Templeton

Global

Income

Fund

Non-Controlled

Affiliates

Dividends

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

0.01%

.

$62,199,567

$432,069,553

$(454,006,706)

$—

$—

$40,262,414

40,262,414

$2,417

Total

Affiliated

Securities

...

$62,199,567

$432,069,553

$(454,006,706)

$—

$—

$40,262,414

$2,417

4.

Concentration

of

Risk 

(continued)

Templeton

Global

Income

Fund

Notes

to

Statement

of

Investments

(unaudited)

16

Quarterly

Statement

of

Investments

A

reconciliation

of

assets

in

which

Level

3

inputs

are

used

in

determining

fair

value

is

presented

when

there

are

significant

Level

3

financial

instruments

at

the

beginning

and/or

end

of

the

period.

The

reconciliation

of

assets

and

liabilities

for

the

nine

months

ended

September

30,

2021,

is

as

follows:

Level

1

Level

2

Level

3

Total

Templeton

Global

Income

Fund

Assets:

Investments

in

Securities:

Foreign

Government

and

Agency

Securities

....

$

—

$

548,259,407

$

—

$

548,259,407

Options

purchased

.......................

—

3,839,979

—

3,839,979

Short

Term

Investments

...................

40,262,414

114,091,015

—

154,353,429

Total

Investments

in

Securities

...........

$40,262,414

$666,190,401

$—

$706,452,815

Other

Financial

Instruments:

Forward

exchange

contracts

...............

$

—

$

5,562,811

$

—

$

5,562,811

Restricted

Currency

(ARS)

.................

—

150,780

—

150,780

Total

Other

Financial

Instruments

.........

$—

$5,713,591

$—

$5,713,591

Receivables:

Investment

Securities

Sold

(ARS)

............

$—

$3,572,524

$—

$3,572,524

Interest

(ARS)

...........................

$—

$189,279

$—

$189,279

Liabilities:

Other

Financial

Instruments:

Options

written

..........................

$

—

$

2,261,705

$

—

$

2,261,705

Forward

exchange

contracts

................

$

—

$

4,814,688

$

—

$

4,814,688

Total

Other

Financial

Instruments

.........

$—

$7,076,393

$—

$7,076,393

Payables:

Investment

Securities

Purchased

(ARS)

.......

$—

$52

$—

$52

Deferred

Tax

(ARS)

.......................

$—

$577

$—

$577

Balance

at

Beginning

of

Period

Purchases

a

Sales

b

Transfer

Into

Level

3

Transfer

Out

of

Level

3

c

Net

Accretion

(

Amortiza

-

tion

)

Net

Realized

Gain

(Loss)

Net

Unr

ealized

Appreciation

(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

Templeton

Global

Income

Fund

Assets:

Investments

in

Securities:

Foreign

Government

and

Agency

Securities

:

Argentina

....

$

13,615,735

$

—

$

—

$

—

$

(13,615,735)

$

—

$

—

$

—

$

—

$

—

Short

Term

Investments

..

868,631

—

—

—

(868,631)

—

—

—

—

—

Total

Investments

in

Securities

.......

$14,484,366

$—

$—

$—

$(14,484,366)

$—

$—

$—

$—

$—

7. Fair

Value

Measurements 

(continued)

Templeton

Global

Income

Fund

Notes

to

Statement

of

Investments

(unaudited)

17

Quarterly

Statement

of

Investments

Balance

at

Beginning

of

Period

Purchases

a

Sales

b

Transfer

Into

Level

3

Transfer

Out

of

Level

3

c

Net

Accretion

(Amortiza-

tion)

Net

Realized

Gain

(Loss)

Net

Unrealized

Appreciation

(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

Templeton

Global

Income

Fund

(continued)

Assets:

(continued)

Other

Financial

Instruments:

Restricted

Currency

(ARS)

......

$2,838

$—

$—

$—

$(2,838)

$—

$—

$—

$—

$—

Receivables:

Interest

(ARS)

.

$304,677

$—

$—

$—

$(304,677)

$—

$—

$—

$—

$—

Liabilities:

Payables:

Investment

Securities

Purchased

(ARS)

$129,991

$—

$—

$—

$(129,991)

$—

$—

$—

$—

$—

Deferred

Tax

(ARS)

$779

$—

$—

$—

$(779)

$—

$—

$—

$—

$—

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.

c

Transfers

out

of

level

3

were

as

a

result

of

changes

in

the

levels

of

observable

liquidity

and

the

improved

reliability

of

a

significant

input.

7. Fair

Value

Measurements 

(continued)

Templeton

Global

Income

Fund

Notes

to

Statement

of

Investments

(unaudited)

18

Quarterly

Statement

of

Investments

8.

Subsequent

Events

The Fund

has

evaluated

subsequent

events

through

the

issuance

of

the

Statement

of

Investments

and

determined

that

no

events

have

occurred

that

require

disclosure. 

Abbreviations

Counterparty

BOFA

Bank

of

America

Corp.

CITI

Citibank

NA

DBAB

Deutsche

Bank

AG

GSCO

Goldman

Sachs

Group,

Inc.

HSBK

HSBC

Bank

plc

JPHQ

JPMorgan

Chase

Bank

NA

MSCO

Morgan

Stanley

SCNY

Standard

Chartered

Bank

UBSW

UBS

AG

Currency

ARS

Argentine

Peso

AUD

Australian

Dollar

BRL

Brazilian

Real

CAD

Canadian

Dollar

CNY

Chinese

Yuan

COP

Colombian

Peso

EGP

Egyptian

Pound

EUR

Euro

GHS

Ghanaian

Cedi

IDR

Indonesian

Rupiah

INR

Indian

Rupee

JPY

Japanese

Yen

KRW

South

Korean

Won

MXN

Mexican

Peso

NOK

Norwegian

Krone

RUB

Russian

Ruble

SEK

Swedish

Krona

SGD

Singapore

Dollar

TRY

Turkish

Lira

USD

United

States

Dollar

For

additional

information

on

the

Fund's

significant

accounting

policies,

please

refer

to

the Fund's

most

recent

semiannual

or

annual

shareholder

report.