Templeton Global Investment Trust NPORT-P Templeton Global Balanced Fund (Mar 2021 report)

Not

FDIC

Insured

May

Lose

Value

No

Bank

Guarantee

325-Q1PH

See

Notes

to

Consolidated

Statement

of

Investments.

1

Statement

of

Investments

(unaudited)

Templeton

Global

Balanced

Fund

2

Notes

to

Financial

Statements

17

Templeton

Global

Investment

Trust

Consolidated

Statement

of

Investments

(unaudited),

March

31,

2021

Templeton

Global

Balanced

Fund

Quarterly

Consolidated

Statement

of

Investments

See

Notes

to

Consolidated

Statement

of

Investments.

2

.

a

a

Industry

Shares

a

Value

a

Common

Stocks

61.9%

Belgium

0.1%

a

Galapagos

NV

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

Biotechnology

13,879

$

1,070,875

a

China

3.3%

a

Alibaba

Group

Holding

Ltd.

.........

Internet

&

Direct

Marketing

Retail

347,400

9,870,610

a,b

Kuaishou

Technology,

144A,

Reg

S

...

Interactive

Media

&

Services

62,000

2,153,318

Tencent

Holdings

Ltd.

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

Interactive

Media

&

Services

57,400

4,580,983

a,b

Xiabuxiabu

Catering

Management

China

Holdings

Co.

Ltd.,

144A,

Reg

S

....

Hotels,

Restaurants

&

Leisure

3,194,500

6,490,470

23,095,381

Denmark

0.5%

AP

Moller

-

Maersk

A/S,

B

..........

Marine

1,643

3,814,135

France

0.6%

Dassault

Aviation

SA

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

Aerospace

&

Defense

3,726

4,143,161

Germany

5.0%

Continental

AG

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

Auto

Components

34,771

4,602,402

Deutsche

Boerse

AG

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

Capital

Markets

28,280

4,698,856

E.ON

SE

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

Multi-Utilities

381,804

4,449,154

a,b

Just

Eat

Takeaway.com

NV,

144A,

Reg

S

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

Internet

&

Direct

Marketing

Retail

153,865

14,156,813

Siemens

AG

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

Industrial

Conglomerates

44,970

7,388,462

35,295,687

Hong

Kong

1.7%

AIA

Group

Ltd.

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

Insurance

939,200

11,492,849

Value

Partners

Group

Ltd.

..........

Capital

Markets

1,091,000

745,254

12,238,103

India

1.3%

Housing

Development

Finance

Corp.

Ltd.

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

Thrifts

&

Mortgage

Finance

262,257

9,006,701

Ireland

1.0%

a

Ryanair

Holdings

plc,

ADR

.........

Airlines

63,900

7,348,500

a

Japan

5.4%

Hitachi

Ltd.

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

Electronic

Equipment,

Instruments

&

Components

220,100

9,976,777

Komatsu

Ltd.

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

Machinery

87,200

2,702,268

Nippon

Television

Holdings,

Inc.

.....

Media

176,800

2,323,573

Seria

Co.

Ltd.

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

Multiline

Retail

217,800

7,616,698

Takeda

Pharmaceutical

Co.

Ltd.

.....

Pharmaceuticals

124,900

4,552,876

TBS

Holdings,

Inc.

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

Media

261,600

5,145,393

Toyota

Industries

Corp.

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

Auto

Components

69,300

6,192,609

38,510,194

Luxembourg

1.1%

ArcelorMittal

SA

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

Metals

&

Mining

276,000

7,942,998

Netherlands

2.2%

NN

Group

NV

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

Insurance

115,313

5,624,654

NXP

Semiconductors

NV

..........

Semiconductors

&

Semiconductor

Equipment

48,290

9,722,709

15,347,363

Singapore

0.6%

a,c,d,e

Aspirational

Consumer

Lifestyle

Corp.

.

Capital

Markets

439,500

4,395,000

a

Templeton

Global

Investment

Trust

Consolidated

Statement

of

Investments

(unaudited)

Templeton

Global

Balanced

Fund

(continued)

See

Notes

to

Consolidated

Statement

of

Investments.

Quarterly

Consolidated

Statement

of

Investments

3

a

a

Industry

Shares

a

Value

a

Common

Stocks

(continued)

South

Africa

0.0%

a,c,d

K2016470219

South

Africa

Ltd.,

A

....

Multiline

Retail

32,900,733

$

—

a,c,d

K2016470219

South

Africa

Ltd.,

B

....

Multiline

Retail

4,646,498

—

—

South

Korea

1.7%

Samsung

Electronics

Co.

Ltd.

.......

Technology

Hardware,

Storage

&

Peripherals

167,820

12,183,127

Spain

0.7%

a

Amadeus

IT

Group

SA

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

IT

Services

66,300

4,722,019

a

Taiwan

1.9%

Taiwan

Semiconductor

Manufacturing

Co.

Ltd.

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

Semiconductors

&

Semiconductor

Equipment

631,300

13,328,781

United

Kingdom

6.0%

a

Compass

Group

plc

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

Hotels,

Restaurants

&

Leisure

262,704

5,306,844

Diageo

plc

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

Beverages

99,131

4,071,861

Imperial

Brands

plc

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

Tobacco

380,649

7,802,524

a

Informa

plc

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

Media

696,615

5,377,902

Persimmon

plc

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

Household

Durables

114,629

4,642,449

Prudential

plc

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

Insurance

354,588

7,552,532

a

Travis

Perkins

plc

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

Trading

Companies

&

Distributors

383,857

8,160,352

42,914,464

United

States

28.8%

American

Express

Co.

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

Consumer

Finance

44,900

6,350,656

a

Berkshire

Hathaway,

Inc.,

B

.........

Diversified

Financial

Services

54,200

13,846,474

a

Booking

Holdings,

Inc.

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

Internet

&

Direct

Marketing

Retail

3,650

8,503,916

Comcast

Corp.,

A

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

Media

216,024

11,689,059

a

Dollar

Tree,

Inc.

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

Multiline

Retail

106,000

12,132,760

a

EPAM

Systems,

Inc.

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

IT

Services

25,754

10,216,354

a

F5

Networks,

Inc.

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

Communications

Equipment

56,700

11,828,754

a

Facebook,

Inc.,

A

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

Interactive

Media

&

Services

53,500

15,757,355

a

Freeport-McMoRan,

Inc.

...........

Metals

&

Mining

190,600

6,276,458

General

Dynamics

Corp.

...........

Aerospace

&

Defense

30,000

5,446,800

H&R

Block,

Inc.

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

Diversified

Consumer

Services

110,700

2,413,260

HCA

Healthcare,

Inc.

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

Health

Care

Providers

&

Services

34,700

6,535,398

Kroger

Co.

(The)

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

Food

&

Staples

Retailing

32,100

1,155,279

a

Laboratory

Corp.

of

America

Holdings

.

Health

Care

Providers

&

Services

10,300

2,626,809

a

LivaNova

plc

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

Health

Care

Equipment

&

Supplies

97,500

7,188,675

Marathon

Petroleum

Corp.

.........

Oil,

Gas

&

Consumable

Fuels

115,100

6,156,699

Medtronic

plc

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

Health

Care

Equipment

&

Supplies

50,800

6,001,004

a

Sabre

Corp.

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

IT

Services

319,300

4,728,833

a

Southwest

Airlines

Co.

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

Airlines

117,600

7,180,656

United

Parcel

Service,

Inc.,

B

.......

Air

Freight

&

Logistics

44,200

7,513,558

UnitedHealth

Group,

Inc.

...........

Health

Care

Providers

&

Services

41,510

15,444,626

Visa,

Inc.,

A

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

IT

Services

39,100

8,278,643

a

Walt

Disney

Co.

(The)

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

Entertainment

59,300

10,942,036

Westinghouse

Air

Brake

Technologies

Corp.

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

Machinery

68,600

5,430,376

a

Zendesk,

Inc.

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

Software

78,718

10,439,581

204,084,019

Total

Common

Stocks

(Cost

$317,501,440)

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

439,440,508

Templeton

Global

Investment

Trust

Consolidated

Statement

of

Investments

(unaudited)

Templeton

Global

Balanced

Fund

(continued)

Quarterly

Consolidated

Statement

of

Investments

See

Notes

to

Consolidated

Statement

of

Investments.

4

a

a

Industry

Principal

Amount

*

a

Value

a

a

a

a

a

a

Corporate

Bonds

0.0%

†

South

Africa

0.0%

†

b,c,f

K2016470219

South

Africa

Ltd.

,

Senior

Secured

Note,

144A,

PIK,

3%,

12/31/22

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

Multiline

Retail

2,726,666

$

—

Senior

Secured

Note,

144A,

PIK,

8%,

12/31/22

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

Multiline

Retail

2,604,160

EUR

3,817

b,c,f

K2016470260

South

Africa

Ltd.,

Senior

Secured

Note,

144A,

PIK,

25%,

12/31/22

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

Multiline

Retail

1,251,883

6,260

10,077

Total

Corporate

Bonds

(Cost

$4,285,283)

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

10,077

Foreign

Government

and

Agency

Securities

22.1%

Argentina

1.8%

g,h

Argentina

BONCER

,

Index

Linked,

1.1%,

4/17/21

.......

96,032,549

ARS

659,725

Index

Linked,

1%,

8/05/21

........

54,099,916

ARS

374,068

Index

Linked,

1.664%,

3/18/22

.....

624,791,608

ARS

4,305,477

Index

Linked,

1.3%,

9/20/22

.......

4,547,595

ARS

31,342

Index

Linked,

1.937%,

3/25/23

.....

332,221,097

ARS

2,203,718

Index

Linked,

2.075%,

3/25/24

.....

332,221,109

ARS

2,029,713

h,i

Argentina

Bonos

del

Tesoro

Nacional

en

Pesos

Badlar,

FRN,

36.119%,

(ARS

BADLAR

+

2%),

4/03/22

.........

37,519,000

ARS

247,227

h

Argentina

Government

Bond

,

18.2%,

10/03/21

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

193,279,000

ARS

1,221,165

16%,

10/17/23

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

298,989,000

ARS

1,186,199

15.5%,

10/17/26

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

243,952,000

ARS

677,595

12,936,229

Colombia

1.0%

Colombia

Government

Bond

,

Senior

Bond,

7.75%,

4/14/21

......

689,000,000

COP

188,976

Senior

Bond,

4.375%,

3/21/23

.....

52,000,000

COP

14,547

Senior

Bond,

9.85%,

6/28/27

......

83,000,000

COP

28,121

Colombia

Titulos

de

Tesoreria

,

B,

7%,

5/04/22

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

1,382,200,000

COP

395,797

B,

10%,

7/24/24

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

1,738,000,000

COP

555,247

B,

7.5%,

8/26/26

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

19,829,000,000

COP

5,856,961

7,039,649

Ecuador

0.6%

b

Ecuador

Government

Bond

,

Senior

Note,

144A,

0.5%,

7/31/30

..

2,231,000

1,310,735

Senior

Bond,

144A,

0.5%,

7/31/35

..

5,681,000

2,584,912

Senior

Bond,

144A,

0.5%,

7/31/40

..

420,000

181,654

4,077,301

El

Salvador

0.0%

†

b

El

Salvador

Government

Bond,

Senior

Bond,

144A,

7.65%,

6/15/35

.......

100,000

98,750

Ghana

1.7%

Ghana

Government

Bond

,

24.5%,

6/21/21

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

600,000

GHS

105,639

Templeton

Global

Investment

Trust

Consolidated

Statement

of

Investments

(unaudited)

Templeton

Global

Balanced

Fund

(continued)

See

Notes

to

Consolidated

Statement

of

Investments.

Quarterly

Consolidated

Statement

of

Investments

5

a

a

Industry

Principal

Amount

*

a

Value

a

a

a

a

a

a

Foreign

Government

and

Agency

Securities

(continued)

Ghana

(continued)

Ghana

Government

Bond,

(continued)

24.75%,

7/19/21

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

6,550,000

GHS

$

1,160,939

18.75%,

1/24/22

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

4,265,000

GHS

754,918

18.25%,

7/25/22

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

7,580,000

GHS

1,344,638

Senior

Note,

17.6%,

2/20/23

......

50,000

GHS

8,792

19.75%,

3/25/24

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

6,470,000

GHS

1,177,776

Senior

Note,

18.3%,

3/02/26

......

105,000

GHS

18,068

19%,

11/02/26

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

25,220,000

GHS

4,407,955

19.75%,

3/15/32

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

18,450,000

GHS

3,220,488

12,199,213

India

2.0%

India

Government

Bond

,

7.16%,

5/20/23

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

83,000,000

INR

1,193,965

Senior

Note,

5.22%,

6/15/25

......

93,000,000

INR

1,256,529

7.59%,

1/11/26

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

509,200,000

INR

7,455,486

7.27%,

4/08/26

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

280,500,000

INR

4,055,158

13,961,138

Indonesia

2.7%

Indonesia

Government

Bond

,

FR35,

Senior

Bond,

12.9%,

6/15/22

.

10,168,000,000

IDR

776,028

FR43,

10.25%,

7/15/22

..........

154,000,000

IDR

11,411

FR63,

5.625%,

5/15/23

..........

2,150,000,000

IDR

150,293

FR46,

9.5%,

7/15/23

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

73,000,000,000

IDR

5,507,553

FR39,

11.75%,

8/15/23

..........

1,616,000,000

IDR

127,380

FR70,

8.375%,

3/15/24

..........

84,648,000,000

IDR

6,282,834

FR81,

6.5%,

6/15/25

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

50,707,000,000

IDR

3,580,106

FR86,

5.5%,

4/15/26

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

43,720,000,000

IDR

2,958,813

19,394,418

Mexico

3.3%

Mexican

Bonos

Desarr

Fixed

Rate

,

M,

6.5%,

6/10/21

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

86,960,000

MXN

4,267,938

M,

Senior

Note,

7.25%,

12/09/21

...

137,070,000

MXN

6,825,643

M,

6.5%,

6/09/22

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

196,230,000

MXN

9,792,356

M,

Senior

Bond,

8%,

12/07/23

.....

32,730,000

MXN

1,708,387

M

20,

10%,

12/05/24

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

8,530,000

MXN

477,172

23,071,496

South

Korea

7.8%

Korea

Monetary

Stabilization

Bond,

1.18%,

8/02/21

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

208,000,000

KRW

184,814

Korea

Treasury

Bond

,

4.25%,

6/10/21

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

3,380,800,000

KRW

3,019,268

1.375%,

9/10/21

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

8,462,200,000

KRW

7,530,349

2%,

12/10/21

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

380,000,000

KRW

340,228

2.25%,

9/10/23

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

876,000,000

KRW

798,360

1.875%,

3/10/24

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

2,205,000,000

KRW

1,993,289

1.375%,

9/10/24

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

4,655,400,000

KRW

4,133,623

3%,

9/10/24

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

745,000,000

KRW

697,572

1.875%,

6/10/29

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

13,100,000,000

KRW

11,593,587

1.375%,

12/10/29

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

29,872,200,000

KRW

25,281,302

55,572,392

Templeton

Global

Investment

Trust

Consolidated

Statement

of

Investments

(unaudited)

Templeton

Global

Balanced

Fund

(continued)

Quarterly

Consolidated

Statement

of

Investments

See

Notes

to

Consolidated

Statement

of

Investments.

6

a

a

Industry

Principal

Amount

*

a

Value

a

a

a

a

a

a

Foreign

Government

and

Agency

Securities

(continued)

Sri

Lanka

0.2%

b

Sri

Lanka

Government

Bond

,

Senior

Note,

144A,

5.75%,

4/18/23

..

200,000

$

137,530

Senior

Note,

144A,

6.35%,

6/28/24

..

200,000

129,382

Senior

Bond,

144A,

6.85%,

11/03/25

400,000

253,304

Senior

Bond,

144A,

6.2%,

5/11/27

..

1,600,000

987,344

Senior

Bond,

144A,

6.75%,

4/18/28

.

200,000

123,388

Senior

Bond,

144A,

7.85%,

3/14/29

.

200,000

123,614

1,754,562

Supranational

0.4%

j

Inter-American

Development

Bank,

Senior

Bond,

7.5%,

12/05/24

......

60,000,000

MXN

3,088,369

Turkey

0.6%

Turkey

Government

Bond

,

13.9%,

11/09/22

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

17,350,000

TRY

1,979,207

12.2%,

1/18/23

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

1,170,000

TRY

129,218

7.1%,

3/08/23

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

4,980,000

TRY

496,329

16.2%,

6/14/23

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

6,170,000

TRY

718,789

8.8%,

9/27/23

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

3,200,000

TRY

315,439

10.4%,

3/20/24

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

270,000

TRY

26,877

12.6%,

10/01/25

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

2,990,000

TRY

299,083

3,964,942

Total

Foreign

Government

and

Agency

Securities

(Cost

$202,412,263)

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

157,158,459

U.S.

Government

and

Agency

Securities

3.4%

United

States

3.4%

U.S.

Treasury

Notes

,

1.375%,

1/31/25

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

11,380,000

11,711,398

2.625%,

12/31/25

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

4,900,000

5,303,389

1.625%,

2/15/26

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

2,650,000

2,741,301

2.125%,

5/31/26

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

1,210,000

1,280,449

1.625%,

10/31/26

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

2,650,000

2,727,481

23,764,018

Total

U.S.

Government

and

Agency

Securities

(Cost

$23,399,476)

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

23,764,018

Total

Long

Term

Investments

(Cost

$547,598,462)

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

620,373,062

Number

of

Contracts

Notional

Amount

#

a

a

aa

Options

Purchased

0.3%

Calls

-

Over-the-Counter

Currency

Options

Foreign

Exchange

AUD/JPY,

Counterparty

CITI,

April

Strike

Price

81.00

JPY,

Expires

4/29/21

.......

1

2,458,000

AUD

72,796

Foreign

Exchange

AUD/JPY,

Counterparty

CITI,

June

Strike

Price

81.00

JPY,

Expires

6/21/21

.......

1

3,782,000

AUD

127,865

Foreign

Exchange

AUD/JPY,

Counterparty

CITI,

June

Strike

Price

84.15

JPY,

Expires

6/18/21

.......

1

3,910,000

AUD

53,990

Templeton

Global

Investment

Trust

Consolidated

Statement

of

Investments

(unaudited)

Templeton

Global

Balanced

Fund

(continued)

See

Notes

to

Consolidated

Statement

of

Investments.

Quarterly

Consolidated

Statement

of

Investments

7

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

AUD/JPY,

Counterparty

CITI,

June

Strike

Price

84.75

JPY,

Expires

6/24/21

.......

1

3,647,000

AUD

$

42,281

Foreign

Exchange

AUD/JPY,

Counterparty

CITI,

December

Strike

Price

86.50

JPY,

Expires

12/20/21

..

1

2,932,000

AUD

46,471

Foreign

Exchange

AUD/USD,

Counterparty

MSCO,

April

Strike

Price

$0.75,

Expires

4/16/21

...........

1

1,513,000

AUD

14,969

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

September

Strike

Price

21.57

MXN,

Expires

9/15/21

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

1

1,106,000

30,590

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

August

Strike

Price

21.65

MXN,

Expires

8/20/21

.......

1

4,883,000

111,568

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

August

Strike

Price

21.65

MXN,

Expires

8/20/21

.......

1

1,781,000

40,693

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

September

Strike

Price

22.06

MXN,

Expires

9/27/21

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

1

5,970,000

139,013

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

August

Strike

Price

22.26

MXN,

Expires

8/02/21

.......

1

2,803,000

40,190

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

December

Strike

Price

22.36

MXN,

Expires

12/28/21

.

1

4,010,000

122,836

Foreign

Exchange

USD/MXN,

Counterparty

GSCO,

June

Strike

Price

22.83

MXN,

Expires

6/09/21

.......

1

844,000

3,830

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

June

Strike

Price

24.81

MXN,

Expires

6/30/21

.......

1

4,142,000

8,892

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

December

Strike

Price

25.55

MXN,

Expires

12/22/22

.

1

3,007,000

108,765

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

December

Strike

Price

25.55

MXN,

Expires

12/22/22

.

1

3,007,000

108,765

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

October

Strike

Price

26.30

MXN,

Expires

10/19/23

.

1

1,135,000

61,212

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

October

Strike

Price

26.30

MXN,

Expires

10/19/23

.

1

1,135,000

61,212

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

October

Strike

Price

26.30

MXN,

Expires

10/19/23

.

1

2,121,000

114,388

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

August

Strike

Price

29.19

MXN,

Expires

8/29/24

..

1

2,531,000

141,645

Templeton

Global

Investment

Trust

Consolidated

Statement

of

Investments

(unaudited)

Templeton

Global

Balanced

Fund

(continued)

Quarterly

Consolidated

Statement

of

Investments

See

Notes

to

Consolidated

Statement

of

Investments.

8

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

29.71

MXN,

Expires

8/09/24

..

1

2,533,000

$

130,318

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

December

Strike

Price

29.73

MXN,

Expires

12/07/21

.

1

3,963,000

11,697

1,593,986

Puts

-

Exchange-Traded

Equity

Options

iShares

MSCI

EAFE

ETF,

May

Strike

Price

$68.00,

Expires

5/21/21

......

6,377

48,382,299

172,179

SPDR

S&P

500

ETF

Trust,

May

Strike

Price

$350.00,

Expires

5/21/21

.....

699

27,703,467

121,626

Puts

-

Over-the-Counter

Currency

Options

Foreign

Exchange

AUD/JPY,

Counterparty

CITI,

June

Strike

Price

58.95

JPY,

Expires

6/21/21

.......

1

5,042,000

AUD

200

Foreign

Exchange

AUD/JPY,

Counterparty

CITI,

June

Strike

Price

69.20

JPY,

Expires

6/24/21

.......

1

2,017,000

AUD

705

Foreign

Exchange

AUD/JPY,

Counterparty

CITI,

June

Strike

Price

69.20

JPY,

Expires

6/24/21

.......

1

4,034,000

AUD

1,410

Foreign

Exchange

AUD/JPY,

Counterparty

CITI,

April

Strike

Price

71.00

JPY,

Expires

4/29/21

.......

1

6,553,000

AUD

135

Foreign

Exchange

AUD/JPY,

Counterparty

CITI,

July

Strike

Price

71.10

JPY,

Expires

7/15/21

.......

1

815,000

AUD

808

Foreign

Exchange

AUD/JPY,

Counterparty

CITI,

June

Strike

Price

71.44

JPY,

Expires

6/21/21

.......

1

5,042,000

AUD

2,668

Foreign

Exchange

AUD/JPY,

Counterparty

CITI,

December

Strike

Price

75.00

JPY,

Expires

12/20/21

..

1

5,865,000

AUD

43,298

Foreign

Exchange

AUD/JPY,

Counterparty

CITI,

June

Strike

Price

76.20

JPY,

Expires

6/18/21

.......

1

7,819,000

AUD

12,257

Foreign

Exchange

AUD/JPY,

Counterparty

CITI,

June

Strike

Price

78.40

JPY,

Expires

6/24/21

.......

1

9,117,000

AUD

28,359

Foreign

Exchange

AUD/JPY,

Counterparty

CITI,

July

Strike

Price

78.50

JPY,

Expires

7/15/21

.......

1

3,260,000

AUD

14,681

Foreign

Exchange

AUD/USD,

Counterparty

MSCO,

April

Strike

Price

$0.67,

Expires

4/16/21

...........

1

2,944,000

AUD

27

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

June

Strike

Price

18.83

MXN,

Expires

6/21/21

.......

1

4,052,000

10,404

Templeton

Global

Investment

Trust

Consolidated

Statement

of

Investments

(unaudited)

Templeton

Global

Balanced

Fund

(continued)

See

Notes

to

Consolidated

Statement

of

Investments.

Quarterly

Consolidated

Statement

of

Investments

9

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,

August

Strike

Price

19.23

MXN,

Expires

8/20/21

.......

1

1,336,000

$

11,376

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

July

Strike

Price

19.30

MXN,

Expires

7/13/21

.......

1

3,360,000

24,029

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

August

Strike

Price

19.35

MXN,

Expires

8/02/21

.......

1

981,000

8,608

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

August

Strike

Price

19.43

MXN,

Expires

8/30/21

..

1

1,898,000

21,458

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

October

Strike

Price

19.85

MXN,

Expires

10/19/23

.

1

568,000

15,538

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

October

Strike

Price

19.85

MXN,

Expires

10/19/23

.

1

1,060,000

28,998

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

October

Strike

Price

19.85

MXN,

Expires

10/19/23

.

1

568,000

15,538

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

August

Strike

Price

19.88

MXN,

Expires

8/11/21

..

1

1,899,000

31,991

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

May

Strike

Price

20.38

MXN,

Expires

5/20/21

.......

1

6,510,000

119,113

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

August

Strike

Price

21.15

MXN,

Expires

8/20/21

.......

1

1,712,000

83,668

Foreign

Exchange

USD/MXN,

Counterparty

GSCO,

June

Strike

Price

22.83

MXN,

Expires

6/09/21

.......

1

844,000

95,897

864,971

Total

Options

Purchased

(Cost

$4,374,332)

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

2,458,957

Short

Term

Investments

10.8%

a

a

Principal

Amount

*

a

Value

a

a

a

a

a

a

Foreign

Government

and

Agency

Securities

4.3%

Argentina

0.1%

g,h,k

Argentina

Letras

de

la

Nacion

Argentina

con

Ajuste

por

CER

,

Index

Linked,

5/21/21

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

57,863,184

ARS

397,722

Index

Linked,

9/13/21

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

31,928,015

ARS

221,273

Index

Linked,

2/28/22

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

14,758,577

ARS

101,874

720,869

Egypt

0.6%

k

Egypt

Treasury

Bills

,

6/22/21

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

20,000,000

EGP

1,240,919

Templeton

Global

Investment

Trust

Consolidated

Statement

of

Investments

(unaudited)

Templeton

Global

Balanced

Fund

(continued)

Quarterly

Consolidated

Statement

of

Investments

See

Notes

to

Consolidated

Statement

of

Investments.

10

Short

Term

Investments

(continued)

a

a

Principal

Amount

*

a

Value

a

a

a

a

a

a

Foreign

Government

and

Agency

Securities

(continued)

Egypt

(continued)

k

Egypt

Treasury

Bills,

(continued)

7/13/21

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

8,000,000

EGP

$

492,658

8/10/21

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

3,300,000

EGP

201,190

8/31/21

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

6,000,000

EGP

363,044

9/07/21

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

5,900,000

EGP

356,093

9/28/21

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

3,300,000

EGP

197,735

12/07/21

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

1,600,000

EGP

93,626

12/21/21

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

20,000,000

EGP

1,164,870

2/15/22

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

5,200,000

EGP

297,486

3/01/22

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

2,400,000

EGP

136,600

4,544,221

Japan

3.5%

k

Japan

Treasury

Bills

,

4/12/21

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

1,031,800,000

JPY

9,318,869

6/16/21

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

99,300,000

JPY

897,013

8/10/21

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

284,000,000

JPY

2,565,917

8/25/21

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

54,000,000

JPY

487,911

9/27/21

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

174,000,000

JPY

1,572,348

11/22/21

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

499,550,000

JPY

4,515,116

12/20/21

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

571,200,000

JPY

5,163,265

24,520,439

Mexico

0.1%

k

Mexico

Cetes

,

BI

,

1/13/22

..........

16,004,500

MXN

754,835

Total

Foreign

Government

and

Agency

Securities

(Cost

$31,897,512)

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

30,540,364

Industry

Shares

Money

Market

Funds

6.5%

United

States

6.5%

l,m

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

0.01%

..........

45,789,865

45,789,865

Total

Money

Market

Funds

(Cost

$45,789,865)

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

45,789,865

a

a

a

a

a

Total

Short

Term

Investments

(Cost

$77,687,377

)

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

76,330,229

a

a

a

a

Total

Investments

(Cost

$629,660,171)

98.5%

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

$699,162,248

Options

Written

(0.4)%

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

(2,411,884)

Other

Assets,

less

Liabilities

1.9%

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

12,872,897

Net

Assets

100.0%

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

$709,623,261

a

a

a

a

Number

of

Contracts

Notional

Amount

#

Options

Written

(0.4)%

a

Calls

-

Over-the-Counter

a

Currency

Options

Foreign

Exchange

AUD/JPY,

Counterparty

CITI,

April

Strike

Price

76.80

JPY,

Expires

4/29/21

.......

1

4,915,000

AUD

(324,998)

Templeton

Global

Investment

Trust

Consolidated

Statement

of

Investments

(unaudited)

Templeton

Global

Balanced

Fund

(continued)

See

Notes

to

Consolidated

Statement

of

Investments.

Quarterly

Consolidated

Statement

of

Investments

11

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

AUD/JPY,

Counterparty

CITI,

June

Strike

Price

78.00

JPY,

Expires

6/21/21

.......

1

3,782,000

AUD

$

(217,553)

Foreign

Exchange

AUD/JPY,

Counterparty

CITI,

June

Strike

Price

80.50

JPY,

Expires

6/18/21

.......

1

3,910,000

AUD

(145,955)

Foreign

Exchange

AUD/JPY,

Counterparty

CITI,

December

Strike

Price

81.20

JPY,

Expires

12/20/21

..

1

2,932,000

AUD

(124,712)

Foreign

Exchange

AUD/JPY,

Counterparty

CITI,

June

Strike

Price

82.45

JPY,

Expires

6/24/21

.......

1

7,293,000

AUD

(175,357)

Foreign

Exchange

AUD/USD,

Counterparty

MSCO,

April

Strike

Price

$0.72,

Expires

4/16/21

...........

1

1,008,500

AUD

(36,771)

Foreign

Exchange

AUD/USD,

Counterparty

HSBK,

May

Strike

Price

$0.78,

Expires

5/05/21

...........

1

2,518,000

AUD

(8,409)

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

August

Strike

Price

21.15

MXN,

Expires

8/20/21

.......

1

1,712,000

(51,472)

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

April

Strike

Price

21.90

MXN,

Expires

4/30/21

.......

1

1,121,000

(3,148)

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

May

Strike

Price

22.48

MXN,

Expires

5/20/21

.......

1

3,255,000

(11,292)

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

June

Strike

Price

22.53

MXN,

Expires

6/30/21

.......

1

1,380,000

(11,624)

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

December

Strike

Price

22.75

MXN,

Expires

12/22/22

.

1

902,000

(59,853)

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

December

Strike

Price

22.75

MXN,

Expires

12/22/22

.

1

902,000

(59,853)

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

August

Strike

Price

23.43

MXN,

Expires

8/20/21

.......

1

1,781,000

(16,396)

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

September

Strike

Price

23.60

MXN,

Expires

9/27/21

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

1

4,040,000

(47,119)

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

September

Strike

Price

24.20

MXN,

Expires

9/15/21

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

1

668,000

(5,450)

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

August

Strike

Price

24.62

MXN,

Expires

8/02/21

.......

1

701,000

(3,061)

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

August

Strike

Price

25.22

MXN,

Expires

8/20/21

.......

1

1,628,000

(6,792)

Templeton

Global

Investment

Trust

Consolidated

Statement

of

Investments

(unaudited)

Templeton

Global

Balanced

Fund

(continued)

Quarterly

Consolidated

Statement

of

Investments

See

Notes

to

Consolidated

Statement

of

Investments.

12

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,

December

Strike

Price

25.33

MXN,

Expires

12/28/21

.

1

2,570,000

$

(28,505)

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

August

Strike

Price

26.61

MXN,

Expires

8/30/21

..

1

1,898,000

(5,174)

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

August

Strike

Price

27.38

MXN,

Expires

8/11/21

..

1

1,899,000

(3,130)

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

December

Strike

Price

27.93

MXN,

Expires

12/07/21

.

1

1,321,000

(6,097)

Foreign

Exchange

USD/MXN,

Counterparty

GSCO,

June

Strike

Price

30.36

MXN,

Expires

6/09/21

.......

1

844,000

(63)

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

October

Strike

Price

34.95

MXN,

Expires

10/19/23

.

1

568,000

(10,300)

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

October

Strike

Price

34.95

MXN,

Expires

10/19/23

.

1

568,000

(10,300)

(1,373,384)

Puts

-

Over-the-Counter

Currency

Options

Foreign

Exchange

AUD/JPY,

Counterparty

CITI,

June

Strike

Price

64.86

JPY,

Expires

6/21/21

.......

1

7,563,000

AUD

(967)

Foreign

Exchange

AUD/JPY,

Counterparty

CITI,

April

Strike

Price

66.00

JPY,

Expires

4/29/21

.......

1

3,277,000

AUD

(12)

Foreign

Exchange

AUD/JPY,

Counterparty

CITI,

December

Strike

Price

68.40

JPY,

Expires

12/20/21

..

1

2,932,000

AUD

(9,032)

Foreign

Exchange

AUD/JPY,

Counterparty

CITI,

June

Strike

Price

71.60

JPY,

Expires

6/18/21

.......

1

7,819,000

AUD

(3,981)

Foreign

Exchange

AUD/JPY,

Counterparty

CITI,

June

Strike

Price

75.60

JPY,

Expires

6/24/21

.......

1

4,558,000

AUD

(6,949)

Foreign

Exchange

AUD/JPY,

Counterparty

CITI,

July

Strike

Price

75.90

JPY,

Expires

7/15/21

.......

1

3,260,000

AUD

(8,365)

Foreign

Exchange

USD/MXN,

Counterparty

GSCO,

June

Strike

Price

19.61

MXN,

Expires

6/09/21

.......

1

844,000

(6,353)

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

June

Strike

Price

19.79

MXN,

Expires

6/21/21

.......

1

4,052,000

(46,503)

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

August

Strike

Price

19.86

MXN,

Expires

8/20/21

.......

1

2,671,000

(45,326)

Templeton

Global

Investment

Trust

Consolidated

Statement

of

Investments

(unaudited)

Templeton

Global

Balanced

Fund

(continued)

See

Notes

to

Consolidated

Statement

of

Investments.

Quarterly

Consolidated

Statement

of

Investments

13

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,

December

Strike

Price

19.92

MXN,

Expires

12/28/21

.

1

2,250,000

$

(52,737)

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

December

Strike

Price

19.93

MXN,

Expires

12/22/22

.

1

902,000

(25,336)

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

December

Strike

Price

19.93

MXN,

Expires

12/22/22

.

1

902,000

(25,336)

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

September

Strike

Price

20.01

MXN,

Expires

9/27/21

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

1

5,600,000

(123,166)

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

September

Strike

Price

20.21

MXN,

Expires

9/15/21

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

1

334,000

(8,407)

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

August

Strike

Price

20.36

MXN,

Expires

8/20/21

.......

1

6,510,000

(175,994)

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

August

Strike

Price

20.94

MXN,

Expires

8/30/21

..

1

1,898,000

(81,545)

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

August

Strike

Price

21.43

MXN,

Expires

8/11/21

..

1

1,899,000

(110,208)

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

October

Strike

Price

22.32

MXN,

Expires

10/19/23

.

1

1,135,000

(79,686)

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

October

Strike

Price

22.32

MXN,

Expires

10/19/23

.

1

1,135,000

(79,686)

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

October

Strike

Price

22.32

MXN,

Expires

10/19/23

.

1

2,121,000

(148,911)

(1,038,500)

Total

Options

Written

(Premiums

received

$1,994,665)

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

$

(2,411,884)

#

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.

†

Rounds

to

less

than

0.1%

of

net

assets.

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

March

31,

2021,

the

aggregate

value

of

these

securities

was

$28,741,291,

representing

4.1%

of

net

assets.

c

Fair

valued

using

significant

unobservable

inputs.

See

Note

9

regarding

fair

value

measurements.

d

See

Note

6

regarding

restricted

securities.

e

A

portion

or

all

of

the

security

purchased

on

a

delayed

delivery

basis.

f

Income

may

be

received

in

additional

securities

and/or

cash.

g

Redemption

price

at

maturity

is

adjusted

for

inflation.

h

Securities

denominated

in

Argentine

Peso

have

been

designated

as

Level

3

investments.

See

Note

9

regarding

fair

value

measurements.

i

The

coupon

rate

shown

represents

the

rate

at

period

end.

Templeton

Global

Investment

Trust

Consolidated

Statement

of

Investments

(unaudited)

Templeton

Global

Balanced

Fund

(continued)

Quarterly

Consolidated

Statement

of

Investments

See

Notes

to

Consolidated

Statement

of

Investments.

14

At

March

31,

2021,

the

Fund

had

the

following

forward

exchange

contracts

outstanding.

See

Note

3. 

j

A

supranational

organization

is

an

entity

formed

by

two

or

more

central

governments

through

international

treaties.

k

The

security

was

issued

on

a

discount

basis

with

no

stated

coupon

rate.

l

See

Note

7

regarding

investments

in

affiliated

management

investment

companies.

m

The

rate

shown

is

the

annualized

seven-day

effective

yield

at

period

end.

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

Japanese

Yen

......

CITI

Buy

76,440,300

720,611

4/01/21

$

—

$

(30,249)

Japanese

Yen

......

CITI

Sell

76,440,300

720,062

4/01/21

29,700

—

Brazilian

Real

......

CITI

Buy

3,257,136

583,570

4/05/21

—

(4,935)

Brazilian

Real

......

CITI

Sell

3,257,136

588,674

4/05/21

10,040

—

Mexican

Peso

......

GSCO

Buy

52,403,000

2,541,939

4/05/21

21,746

—

Mexican

Peso

......

GSCO

Sell

52,403,000

2,323,034

4/05/21

—

(240,651)

Mexican

Peso

......

JPHQ

Buy

7,255,000

348,204

4/05/21

6,729

—

Mexican

Peso

......

JPHQ

Sell

7,255,000

364,545

4/05/21

9,613

—

Euro

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

GSCO

Sell

830,477

893,165

CHF

4/13/21

—

(28,674)

Euro

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

JPHQ

Sell

2,022,607

21,150,000

SEK

4/13/21

49,624

—

Euro

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

UBSW

Sell

528,210

568,795

CHF

4/13/21

—

(17,483)

Mexican

Peso

......

CITI

Buy

53,441,500

2,585,714

4/13/21

26,513

—

Mexican

Peso

......

CITI

Sell

53,441,500

2,533,721

4/13/21

—

(78,506)

South

Korean

Won

..

DBAB

Buy

33,248,000,000

30,736,803

4/13/21

—

(1,256,201)

South

Korean

Won

..

DBAB

Sell

33,248,000,000

28,625,054

4/13/21

—

(855,549)

Swiss

Franc

.......

GSCO

Sell

893,165

824,193

EUR

4/13/21

21,304

—

Swiss

Franc

.......

UBSW

Sell

568,795

526,019

EUR

4/13/21

14,913

—

Chinese

Yuan

......

HSBK

Buy

21,550,930

3,316,854

4/14/21

—

(36,673)

Euro

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

DBAB

Sell

1,606,255

16,628,116

SEK

4/15/21

20,111

—

Euro

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

DBAB

Sell

1,201,987

12,471,100

SEK

4/16/21

18,240

—

Euro

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

DBAB

Sell

974,550

10,071,000

NOK

4/19/21

34,297

—

Euro

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

DBAB

Sell

1,232,213

12,471,100

SEK

4/19/21

—

(17,259)

Euro

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

JPHQ

Sell

1,308,740

13,536,100

NOK

4/19/21

47,412

—

Australian

Dollar

....

MSCO

Buy

267,000

200,432

4/21/21

2,379

—

Australian

Dollar

....

MSCO

Sell

267,000

189,770

4/21/21

—

(13,040)

Euro

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

UBSW

Sell

392,930

467,707

4/23/21

6,786

—

Australian

Dollar

....

HSBK

Buy

2,004,000

1,493,255

4/27/21

28,994

—

Australian

Dollar

....

HSBK

Sell

2,004,000

1,425,950

4/27/21

—

(96,298)

Mexican

Peso

......

CITI

Buy

17,360,413

840,514

4/30/21

6,502

—

Mexican

Peso

......

CITI

Sell

76,540,900

3,419,294

4/30/21

—

(315,143)

Euro

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

HSBK

Sell

5,636,181

8,743,745

CAD

5/03/21

344,789

—

Indian

Rupee

......

JPHQ

Buy

113,619,700

1,537,167

5/04/21

7,708

—

Australian

Dollar

....

CITI

Sell

305,000

22,772,825

JPY

5/06/21

—

(25,957)

Japanese

Yen

......

CITI

Sell

24,299,889

305,000

AUD

5/06/21

12,162

—

Mexican

Peso

......

GSCO

Sell

4,378,670

213,594

5/06/21

99

—

Indian

Rupee

......

CITI

Buy

82,812,900

1,118,413

5/10/21

6,473

—

Indian

Rupee

......

HSBK

Buy

133,568,000

1,807,049

5/10/21

7,267

—

Mexican

Peso

......

CITI

Buy

40,581,000

1,962,445

5/13/21

14,577

—

Mexican

Peso

......

CITI

Sell

40,581,000

2,032,414

5/13/21

55,392

—

Australian

Dollar

....

MSCO

Sell

3,166,000

2,458,842

5/14/21

53,794

—

Euro

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

DBAB

Sell

1,353,628

13,656,214

SEK

5/17/21

—

(24,510)

Euro

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

DBAB

Sell

2,684,070

27,581,500

NOK

5/19/21

74,185

—

Chinese

Yuan

......

JPHQ

Buy

14,973,410

2,315,769

5/20/21

—

(42,979)

Mexican

Peso

......

CITI

Sell

24,486,500

1,192,538

5/20/21

586

—

Euro

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

DBAB

Sell

1,877,412

2,238,401

5/27/21

34,499

—

Mexican

Peso

......

CITI

Sell

42,325,000

2,005,591

6/02/21

—

(51,560)

Mexican

Peso

......

MSCO

Buy

45,782,000

2,169,557

6/02/21

55,617

—

Mexican

Peso

......

MSCO

Sell

45,782,000

2,286,470

6/02/21

61,295

—

Euro

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

JPHQ

Sell

6,405,813

7,719,077

6/04/21

197,917

—

Templeton

Global

Investment

Trust

Consolidated

Statement

of

Investments

(unaudited)

Templeton

Global

Balanced

Fund

(continued)

See

Notes

to

Consolidated

Statement

of

Investments.

Quarterly

Consolidated

Statement

of

Investments

15

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)

Russian

Ruble

.....

JPHQ

Buy

14,536,100

193,094

6/07/21

$

—

$

(2,221)

Russian

Ruble

.....

MSCO

Buy

200,145,100

2,650,156

6/07/21

—

(22,059)

Euro

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

UBSW

Sell

943,744

1,138,267

6/08/21

30,106

—

Indian

Rupee

......

CITI

Buy

83,985,600

1,116,904

6/08/21

18,729

—

Euro

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

UBSW

Sell

844,587

910,085

CHF

6/09/21

—

(27,006)

Indian

Rupee

......

CITI

Buy

49,456,700

657,319

6/09/21

11,332

—

Russian

Ruble

.....

JPHQ

Buy

26,883,800

360,565

6/09/21

—

(7,650)

Swiss

Franc

.......

UBSW

Sell

910,085

841,214

EUR

6/09/21

23,046

—

Chinese

Yuan

......

BOFA

Buy

19,668,730

2,992,742

6/11/21

—

(12,278)

Chinese

Yuan

......

CITI

Buy

11,788,950

1,795,645

6/11/21

—

(9,229)

Chinese

Yuan

......

JPHQ

Buy

11,668,020

1,777,689

6/11/21

—

(9,598)

Euro

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

DBAB

Sell

3,232,593

33,256,202

SEK

6/11/21

14,004

—

Indian

Rupee

......

HSBK

Buy

133,941,730

1,808,508

6/11/21

1,888

—

Chinese

Yuan

......

BOFA

Buy

23,581,730

3,591,290

6/15/21

—

(18,966)

Chinese

Yuan

......

CITI

Buy

18,614,860

2,835,772

6/15/21

—

(15,864)

Chinese

Yuan

......

JPHQ

Buy

29,990,050

4,571,940

6/15/21

—

(28,838)

Euro

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

DBAB

Sell

638,369

6,561,800

SEK

6/15/21

2,088

—

Euro

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

DBAB

Sell

656,774

7,055,400

NOK

6/15/21

53,481

—

Japanese

Yen

......

CITI

Buy

307,199,313

2,962,099

6/15/21

—

(185,912)

Japanese

Yen

......

CITI

Sell

77,000,000

722,459

6/15/21

26,604

—

Japanese

Yen

......

JPHQ

Buy

1,531,174,755

14,757,600

6/15/21

—

(920,240)

Japanese

Yen

......

JPHQ

Sell

1,531,174,755

14,394,180

6/15/21

556,820

—

Russian

Ruble

.....

DBAB

Buy

121,099,600

1,624,473

6/15/21

—

(36,039)

Chinese

Yuan

......

HSBK

Buy

21,692,020

3,306,544

6/16/21

—

(20,736)

Euro

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

DBAB

Sell

1,014,026

10,786,400

NOK

6/16/21

70,063

—

Euro

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

DBAB

Sell

3,683,359

37,500,330

SEK

6/16/21

—

(29,351)

Mexican

Peso

......

MSCO

Buy

76,000,000

3,603,632

6/16/21

84,687

—

Mexican

Peso

......

MSCO

Sell

86,211,400

3,980,354

6/16/21

—

(203,530)

Euro

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

DBAB

Sell

820,743

8,716,000

NOK

6/18/21

54,982

—

Japanese

Yen

......

BNDP

Buy

317,077,140

3,077,298

6/22/21

—

(211,633)

Mexican

Peso

......

CITI

Sell

73,484,000

3,422,914

7/08/21

—

(134,813)

Chinese

Yuan

......

CITI

Buy

19,903,590

3,049,985

7/14/21

—

(41,533)

Euro

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

HSBK

Sell

8,418,017

13,093,945

CAD

8/03/21

522,927

—

Euro

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

JPHQ

Sell

5,340,000

8,315,635

CAD

8/03/21

339,235

—

Mexican

Peso

......

CITI

Sell

46,247,000

2,148,045

8/23/21

—

(78,827)

Japanese

Yen

......

CITI

Buy

70,330,000

667,550

8/24/21

—

(31,483)

Indian

Rupee

......

JPHQ

Buy

113,941,400

1,514,795

9/07/21

7,499

—

Indian

Rupee

......

CITI

Buy

110,703,100

1,472,214

9/08/21

6,622

—

Indian

Rupee

......

JPHQ

Buy

147,383,500

1,972,161

9/08/21

—

(3,327)

Russian

Ruble

.....

JPHQ

Buy

19,160,000

252,132

9/08/21

—

(3,730)

Russian

Ruble

.....

MSCO

Buy

123,931,100

1,630,865

9/08/21

—

(24,146)

Russian

Ruble

.....

JPHQ

Buy

26,883,900

357,222

9/09/21

—

(8,731)

Russian

Ruble

.....

DBAB

Buy

190,779,900

2,532,306

9/13/21

—

(60,629)

Russian

Ruble

.....

DBAB

Buy

122,261,200

1,624,474

9/14/21

—

(40,721)

Euro

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

DBAB

Sell

638,364

6,569,400

SEK

9/15/21

2,075

—

Euro

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

DBAB

Sell

656,768

7,070,900

NOK

9/15/21

53,645

—

Euro

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

DBAB

Sell

2,045,137

20,785,138

SEK

9/16/21

—

(23,355)

Euro

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

JPHQ

Sell

1,335,487

13,536,100

NOK

9/16/21

10,620

—

Euro

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

JPHQ

Sell

1,296,662

13,824,100

NOK

9/20/21

89,833

—

Japanese

Yen

......

MSCO

Buy

6,285,774,700

60,935,831

9/21/21

—

(4,069,370)

Japanese

Yen

......

MSCO

Sell

1,728,000,000

15,904,136

9/21/21

271,179

—

Euro

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

DBAB

Sell

3,507,563

35,502,500

NOK

9/22/21

21,570

—

Euro

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

DBAB

Sell

661,727

6,689,000

NOK

9/30/21

2,894

—

Euro

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

JPHQ

Sell

11,889,369

120,073,113

NOK

9/30/21

39,212

—

Euro

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

HSBK

Sell

2,803,568

353,684,074

JPY

10/25/21

—

(101,192)

Japanese

Yen

......

HSBK

Sell

356,839,209

2,803,568

EUR

10/25/21

72,632

—

Templeton

Global

Investment

Trust

Consolidated

Statement

of

Investments

(unaudited)

Templeton

Global

Balanced

Fund

(continued)

Quarterly

Consolidated

Statement

of

Investments

See

Notes

to

Consolidated

Statement

of

Investments.

16

See

Abbreviations

on

page

23.

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)

Russian

Ruble

.....

DBAB

Buy

182,569,600

2,405,993

12/15/21

$

—

$

(74,457)

Total

Forward

Exchange

Contracts

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

$3,669,036

$(9,593,131)

Net

unrealized

appreciation

(depreciation)

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

$(5,924,095)

*

In

U.S.

dollars

unless

otherwise

indicated.

a

May

be

comprised

of

multiple

contracts

with

the

same

counterparty,

currency

and

settlement

date.

Templeton

Global

Investment

Trust

17

Quarterly

Consolidated

Statement

of

Investments

Notes

to

Consolidated

Statement

of

Investments

(unaudited)

Templeton

Global

Balanced

Fund

1.

Organization

Templeton

Global

Investment

Trust (Trust)

is

registered

under

the

Investment

Company

Act

of

1940

(1940

Act)

as

an

open-

end

management

investment

company,

consisting

of

one

fund,

Templeton

Global

Balanced

Fund

(Fund)

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

Trust’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. 

Equity

securities

and

derivative

financial

instruments

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 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

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. 

Templeton

Global

Investment

Trust

Notes

to

Consolidated

Statement

of

Investments

(unaudited)

18

Quarterly

Consolidated

Statement

of

Investments

Templeton

Global

Balanced

Fund

(continued)

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

Fund’s

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 Fund’s

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 Fund's

portfolio

securities

to

the

latest

indications

of

fair

value

at

4

p.m.

Eastern

time.

At March

31,

2021,

certain

securities

may

have

been

fair

valued

using

these

procedures,

in

which

case

the

securities

were

categorized

as

Level

2

inputs

within

the

fair

value

hierarchy

(referred

to

as

“market

level

fair

valuation”).

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

Fund’s NAV

is

not

calculated,

which

could

result

in

differences

between

the

value

of

the

Fund’s

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

Fund

for

financial

reporting

purposes.

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.

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

or

initial

margin

requirements

are

set

by

the

broker

or

exchange

clearing

house

for

exchange

traded

and

centrally

cleared

derivatives.

Initial

margin

deposited

is

held

at

the

exchange

and

can

be

in

the

form

of

cash

and/or

securities.

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

for

OTC

derivatives,

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.

2. Financial

Instrument

Valuation

(continued)

Templeton

Global

Investment

Trust

Notes

to

Consolidated

Statement

of

Investments

(unaudited)

19

Quarterly

Consolidated

Statement

of

Investments

Templeton

Global

Balanced

Fund

(continued)

At

March

31,

2021,

the

Fund

received

$1,474,622

in

U.S.

Treasury

Bills,

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

exchange

traded

and/or

OTC

option

contracts

primarily

to

manage

and/or

gain

exposure

to

equity

price

and

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.

At

March

31,

2021,

the

Fund

had

2.0%

of

its

net

assets

denominated

in

Argentine

Pesos,

which

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. Restricted

Securities 

At

March

31,

2021,

investments

in

restricted

securities,

excluding

securities

exempt

from

registration

under

the

Securities

Act

of

1933,

were

as

follows:

Shares

Issuer

Acquisition

Date

Cost

Value

Templeton

Global

Balanced

Fund

439,500

Aspirational

Consumer

Lifestyle

Corp

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

2/01/21

$

4,395,000

$

4,395,000

32,900,733

a

K2016470219

South

Africa

Ltd.,

A

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

2/08/13-2/01/17

81,025

—

4,646,498

a

K2016470219

South

Africa

Ltd.,

B

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

2/01/17

3,450

—

Total

Restricted

Securities

(Value

is

0.62%

of

Net

Assets)

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

$4,479,475

$4,395,000

3.

Derivative

Financial

Instruments

(continued)

Templeton

Global

Investment

Trust

Notes

to

Consolidated

Statement

of

Investments

(unaudited)

20

Quarterly

Consolidated

Statement

of

Investments

Templeton

Global

Balanced

Fund

(continued)

7.

Investments

in

Affiliated

Management

Investment

Companies 

The

Fund

invests

in

one

or

more

affiliated

management

investment

companies

for

purposes

other

than

exercising

a

controlling

influence

over

the

management

or

policies.

During

the

period

ended

March

31,

2021,

the

Fund

held

investments

in

affiliated

management

investment

companies

as

follows: 

8.

Investments

in

FT

Holdings

Corporation

IV

(FT

Subsidiary) 

The

Fund

invests

in

certain

financial

instruments

through

its

investment

in

the

FT

Subsidiary.

The

FT

Subsidiary

is

a

Delaware

Corporation,

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.

Prior

to

March

31,

2021,

FT

Subsidiary's

investment,

Turtle

Bay

Resort,

liquidated

and

paid

a

final

distribution.

At

March

31,

2021,

other

assets

and

liabilities

of

FT

Subsidiary

are

reflected

in

the

Fund's

Consolidated

Statement

of

Investments.

At

March

31,

2021,

the

net

assets

of

the

FT

Subsidiary

were

$5,297,450,

representing

0.8%

of

the

Fund’s

consolidated

net

assets.

9. 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

The

Fund

also

invests

in

unrestricted

securities

of

the

issuer,

valued

at

$3,817

as

of

March

31,

2021.

    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

Balanced

Fund

Non-Controlled

Affiliates

Dividends

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

0.01%

.......

$57,777,120

$50,894,388

$(62,881,643)

$—

$—

$45,789,865

45,789,865

$382

Non-Controlled

Affiliates

Income

from

securities

loaned

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

0.01%

.......

$—

$8,762,000

$(8,762,000)

$

—

$

—

$—

—

$26

Total

Affiliated

Securities

....

$57,777,120

$59,656,388

$(71,643,643)

$—

$—

$45,789,865

$408

6. Restricted

Securities 

(continued)

Templeton

Global

Investment

Trust

Notes

to

Consolidated

Statement

of

Investments

(unaudited)

21

Quarterly

Consolidated

Statement

of

Investments

Templeton

Global

Balanced

Fund

(continued)

A

summary

of

inputs

used

as

of

March

31,

2021,

in

valuing

the

Fund's

assets

and

liabilities

carried

at

fair

value,

is

as

follows:

Level

1

Level

2

Level

3

Total

Templeton

Global

Balanced

Fund

Assets:

Investments

in

Securities:

Common

Stocks

:

Belgium

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

$

—

$

1,070,875

$

—

$

1,070,875

China

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

2,153,318

20,942,063

—

23,095,381

Denmark

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

—

3,814,135

—

3,814,135

France

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

—

4,143,161

—

4,143,161

Germany

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

—

35,295,687

—

35,295,687

Hong

Kong

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

—

12,238,103

—

12,238,103

India

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

—

9,006,701

—

9,006,701

Ireland

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

7,348,500

—

—

7,348,500

Japan

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

—

38,510,194

—

38,510,194

Luxembourg

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

—

7,942,998

—

7,942,998

Netherlands

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

9,722,709

5,624,654

—

15,347,363

Singapore

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

—

—

4,395,000

4,395,000

South

Africa

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

—

—

—

a

—

South

Korea

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

—

12,183,127

—

12,183,127

Spain

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

—

4,722,019

—

4,722,019

Taiwan

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

—

13,328,781

—

13,328,781

United

Kingdom

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

—

42,914,464

—

42,914,464

United

States

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

204,084,019

—

—

204,084,019

Corporate

Bonds

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

—

—

10,077

a

10,077

Foreign

Government

and

Agency

Securities

:

Argentina

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

—

—

12,936,229

12,936,229

Colombia

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

—

7,039,649

—

7,039,649

Ecuador

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

—

4,077,301

—

4,077,301

El

Salvador

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

—

98,750

—

98,750

Ghana

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

—

12,199,213

—

12,199,213

India

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

—

13,961,138

—

13,961,138

Indonesia

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

—

19,394,418

—

19,394,418

Mexico

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

—

23,071,496

—

23,071,496

South

Korea

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

—

55,572,392

—

55,572,392

Sri

Lanka

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

—

1,754,562

—

1,754,562

Supranational

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

—

3,088,369

—

3,088,369

Turkey

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

—

3,964,942

—

3,964,942

U.S.

Government

and

Agency

Securities

.......

—

23,764,018

—

23,764,018

Options

purchased

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

293,805

2,165,152

—

2,458,957

Short

Term

Investments

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

45,789,865

29,819,495

720,869

76,330,229

Total

Investments

in

Securities

...........

$269,392,216

$411,707,857

b

$18,062,175

$699,162,248

Other

Financial

Instruments:

Forward

exchange

contracts

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

$

—

$

3,669,036

$

—

$

3,669,036

Restricted

Currency

(ARS)

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

—

—

166,901

166,901

Total

Other

Financial

Instruments

.........

$—

$3,669,036

$166,901

$3,835,937

Receivables:

Interest

(ARS)

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

$—

$—

$416,022

$416,022

Liabilities:

Other

Financial

Instruments:

Options

written

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

$

—

$

2,411,884

$

—

$

2,411,884

Forward

exchange

contracts

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

—

9,593,131

—

9,593,131

Total

Other

Financial

Instruments

.........

$—

$12,005,015

$—

$12,005,015

Payables:

Deferred

Tax

(ARS)

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

$—

$—

$515

$515

9. Fair

Value

Measurements 

(continued)

Templeton

Global

Investment

Trust

Notes

to

Consolidated

Statement

of

Investments

(unaudited)

22

Quarterly

Consolidated

Statement

of

Investments

Templeton

Global

Balanced

Fund

(continued)

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

March

31,

2021,

the

reconciliation

is

as

follows:

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

March

31,

2021,

are

as

follows:

a

Includes

securities

determined

to

have

no

value

at

March

31,

2021.

b

Includes

foreign

securities

valued

at

$211,736,962,

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

Sales

Transfer

Into

Level

3

Transfer

Out

of

Level

3

Cost

Basis

Adjust-

ments

a

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

Balanced

Fund

Assets:

Investments

in

Securities:

Common

Stocks

:

Singapore

.........

$

—

$

4,395,000

$

—

$

—

$

—

$

—

$

—

$

—

$

4,395,000

$

—

South

Africa

.......

—

b

—

—

—

—

—

—

—

—

b

—

Corporate

Bonds

:

South

Africa

.......

8,631

b

849

—

—

—

155,538

—

(154,941)

10,077

b

(154,941)

Foreign

Government

and

Agency

Securities

:

Argentina

.........

11,467,470

1,025,193

—

—

—

253,926

—

189,640

12,936,229

189,640

Short

Term

Investments

.

761,069

180,647

(193,675)

—

—

7,632

2,971

(37,775)

720,869

(30,901)

Total

Investments

in

Securities

.

$12,237,170

$5,601,689

$(193,675)

$—

$—

$417,096

$2,971

$(3,076)

$18,062,175

$3,798

Other

Financial

Instruments:

Restricted

Currency

(ARS)

$800

$1,598,847

$(1,430,269)

$—

$—

$—

$(2,782)

$305

$166,901

$295

Receivables:

Interest

(ARS)

......

$234,213

$1,357,929

$(1,176,822)

$—

$—

$—

$(808)

$1,510

$416,022

$9,752

Liabilities:

Payables:

Investment

Securities

Purchased

(ARS)

....

$118,056

$—

$(119,044)

$—

$—

$—

$988

$—

$—

$—

Deferred

Tax

(ARS)

....

$524

$—

$—

$—

$—

$—

$—

$(9)

$515

$(9)

a

May

include

accretion,

amortization,

partnership

adjustments,

and/or

other

cost

basis

adjustments.

b

Includes

securities

determined

to

have

no

value.

9. Fair

Value

Measurements 

(continued)

Templeton

Global

Investment

Trust

Notes

to

Consolidated

Statement

of

Investments

(unaudited)

23

Quarterly

Consolidated

Statement

of

Investments

Templeton

Global

Balanced

Fund

(continued)

Description

Fair

Value

at

End

of

Period

Valuation

Technique

Unobservable

Inputs

Amount

Impact

to

Fair

Value

if

Input

Increases

a

Templeton

Global

Balanced

Fund

Assets:

Investments

in

Securities:

Common

Stocks:

Singapore

..........

$4,395,000

Market

comparables

Discount

rate

2.6%

Decrease

Foreign

Government

and

Agency

Securities:

Argentina

...........

12,936,229

Market

comparables

Implied

foreign

exchange

rate

146.2

ARS/USD

Decrease

b

Short

Term

Investments:

Argentina

...........

720,869

Market

comparables

Implied

foreign

exchange

rate

146.2

ARS/USD

Decrease

c

All

Other

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

593,000

d,e

Liabilities:

All

Other

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

515

e

Total

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

$18,644,583

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

impacts,

if

any,

to

fair

value

and/or

net

assets

have

been

indicated.

b

Represents

a

significant

impact

to

fair

value

and

net

assets.

c

Represents

a

significant

impact

to

fair

value

but

not

net

assets.

d

Includes

securities

determined

to

have

no

value

at

March

31,

2021.

e

Includes

fair

value

of

immaterial

assets

and/or

liabilities

developed

using

various

valuation

techniques

and

unobservable

inputs.

May

also

include

values

derived

using

private

transaction

prices

or

non-public

third

party

pricing

information

which

is

unobservable.

9. Fair

Value

Measurements 

(continued)

Templeton

Global

Investment

Trust

Notes

to

Consolidated

Statement

of

Investments

(unaudited)

24

Quarterly

Consolidated

Statement

of

Investments

Templeton

Global

Balanced

Fund

(continued)

10.

Subsequent

Events

The Fund

has

evaluated

subsequent

events

through

the

issuance

of

the

Consolidated

Statement

of

Investments

and

determined

that

no

events

have

occurred

that

require

disclosure. 

Abbreviations

Counterparty

BNDP

BNP

Paribas

SA

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

UBSW

UBS

AG

Selected

Portfolio

ADR

American

Depositary

Receipt

BADLAR

Argentina

Deposit

Rates

Badlar

Private

Banks

ARS

CER

Reference

Stabilization

Coefficient

ETF

Exchange-Traded

Fund

FRN

Floating

Rate

Note

PIK

Payment-In-Kind

Currency

ARS

Argentine

Peso

AUD

Australian

Dollar

CAD

Canadian

Dollar

CHF

Swiss

Franc

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

SEK

Swedish

Krona

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.