Templeton Global Investment Trust NPORT-P Franklin Templeton SMACS Series EM (Nov 2021 report)

Not

FDIC

Insured

May

Lose

Value

No

Bank

Guarantee

TGIT-Q1PH

1

Statement

of

Investments

(unaudited)

Franklin

Templeton

SMACS:

Series

EM

2

Notes

to

Statement

of

Investments

4

Templeton

Global

Investment

Trust

Statement

of

Investments

(unaudited),

November

30,

2021

Franklin

Templeton

SMACS:

Series

EM

Quarterly

Statement

of

Investments

See

Notes

to

Statement

of

Investments.

2

a

a

Country

Shares

a

Value

a

a

a

a

a

a

Common

Stocks

92.5%

Auto

Components

0.7%

Hankook

Tire

&

Technology

Co.

Ltd.

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

South

Korea

93

$

3,027

a,b

Nemak

SAB

de

CV,

144A,

Reg

S

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

Mexico

15,347

4,186

7,213

Automobiles

1.7%

Astra

International

Tbk

.

PT

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

Indonesia

44,409

17,907

Banks

8.7%

BDO

Unibank

,

Inc.

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

Philippines

3,238

7,951

China

Merchants

Bank

Co.

Ltd.,

A

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

China

6,400

49,711

Kasikornbank

PCL

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

Thailand

5,412

21,061

Ping

An

Bank

Co.

Ltd.,

A

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

China

5,500

15,058

93,781

Beverages

0.6%

Thai

Beverage

PCL

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

Thailand

14,255

6,970

Capital

Markets

1.6%

B3

SA

-

Brasil

Bolsa

Balcao

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

Brazil

8,667

17,126

Chemicals

5.5%

Guangzhou

Tinci

Materials

Technology

Co.

Ltd.,

A

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

China

1,830

38,809

Soulbrain

Co.

Ltd.

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

South

Korea

96

20,786

59,595

Construction

Materials

3.6%

China

Resources

Cement

Holdings

Ltd.

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

China

25,915

18,865

Keshun

Waterproof

Technologies

Co.

Ltd.,

A

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

China

9,700

20,406

39,271

Electronic

Equipment,

Instruments

&

Components

2.3%

Hon

Hai

Precision

Industry

Co.

Ltd.

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

Taiwan

6,747

25,146

Food

&

Staples

Retailing

1.2%

a

Massmart

Holdings

Ltd.

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

South

Africa

3,255

12,469

Food

Products

2.1%

Health

&

Happiness

H&H

International

Holdings

Ltd.

...........

China

3,708

6,791

Uni

-President

China

Holdings

Ltd.

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

China

16,217

15,911

22,702

Hotels,

Restaurants

&

Leisure

0.7%

NagaCorp

Ltd.

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

Cambodia

9,964

8,027

Industrial

Conglomerates

3.9%

LG

Corp.

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

South

Korea

629

41,786

Insurance

2.7%

Samsung

Life

Insurance

Co.

Ltd.

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

South

Korea

588

29,589

Interactive

Media

&

Services

8.4%

a,b

Mail.Ru

Group

Ltd.,

GDR,

Reg

S

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

Russia

415

6,947

NAVER

Corp.

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

South

Korea

262

83,966

90,913

Internet

&

Direct

Marketing

Retail

0.9%

a

Americanas

SA

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

Brazil

1,718

9,264

Life

Sciences

Tools

&

Services

0.7%

a

LegoChem

Biosciences,

Inc.

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

South

Korea

197

8,103

Templeton

Global

Investment

Trust

Statement

of

Investments

(unaudited)

Franklin

Templeton

SMACS:

Series

EM

(continued)

See

Notes

to

Statement

of

Investments.

Quarterly

Statement

of

Investments

3

See

Abbreviations

on

page

7.

a

a

Country

Shares

a

Value

a

a

a

a

a

a

Common

Stocks

(continued)

Pharmaceuticals

1.6%

Richter

Gedeon

Nyrt

.

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

Hungary

669

$

17,768

Real

Estate

Management

&

Development

2.6%

China

Resources

Land

Ltd.

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

China

4,074

17,021

b

Greentown

Service

Group

Co.

Ltd.,

Reg

S

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

China

11,462

10,995

28,016

Semiconductors

&

Semiconductor

Equipment

17.5%

MediaTek

,

Inc.

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

Taiwan

2,149

78,358

Taiwan

Semiconductor

Manufacturing

Co.

Ltd.

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

Taiwan

5,204

111,329

189,687

Software

2.0%

Longshine

Technology

Group

Co.

Ltd.,

A

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

China

3,387

21,217

Technology

Hardware,

Storage

&

Peripherals

21.3%

Samsung

Electronics

Co.

Ltd.

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

South

Korea

3,818

230,063

Textiles,

Apparel

&

Luxury

Goods

1.5%

Fila

Holdings

Corp.

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

South

Korea

558

16,495

Transportation

Infrastructure

0.7%

COSCO

SHIPPING

Ports

Ltd.

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

China

9,554

7,508

Total

Common

Stocks

(Cost

$1,041,887)

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

1,000,616

Short

Term

Investments

7.7%

a

a

Country

Shares

a

Value

a

Money

Market

Funds

7.7%

c,d

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

0.01%

.....

United

States

83,396

83,396

Total

Money

Market

Funds

(Cost

$83,396)

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

83,396

Total

Short

Term

Investments

(Cost

$83,396

)

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

83,396

a

Total

Investments

(Cost

$1,125,283)

100.2%

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

$1,084,012

Other

Assets,

less

Liabilities

(0.2)%

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

(2,418)

Net

Assets

100.0%

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

$1,081,594

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

November

30,

2021,

the

aggregate

value

of

these

securities

was

$22,128,

representing

2.0%

of

net

assets.

c

See

Note

5

regarding

investments

in

affiliated

management

investment

companies.

d

The

rate

shown

is

the

annualized

seven-day

effective

yield

at

period

end.

Templeton

Global

Investment

Trust

Notes

to

Statement

of

Investments

(unaudited)

4

Quarterly

Statement

of

Investments

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 three

separate

funds,

one

of

which

is

included

in

this

report

(Fund)

and

applies

the

specialized

accounting

and

reporting

guidance

in

U.S.

Generally

Accepted

Accounting

Principles

(U.S.

GAAP).

Effective

October

20,

2021,

the

Trust

began

offering

shares

of

Franklin

Templeton

SMACS:

Series

EM.

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

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. 

Investments

in

open-end

mutual

funds

are

valued

at

the

closing

NAV.

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. 

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

November

30,

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

value").

See

the

Fair

Value

Measurements

note

for

more

information.

Templeton

Global

Investment

Trust

Notes

to

Statement

of

Investments

(unaudited)

5

Quarterly

Statement

of

Investments

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.

Concentration

of

Risk 

Investing

in

foreign

securities

may

include

certain

risks

and

considerations

not

typically

associated

with

investing

in

U.S.

securities,

such

as

fluctuating

currency

values

and

changing

local,

regional

and

global

economic,

political

and

social

conditions,

which

may

result

in

greater

market

volatility.

Political

and

financial

uncertainty

in

many

foreign

regions

may

increase

market

volatility

and

the

economic

risk

of

investing

in

foreign

securities.

In

addition,

certain

foreign

securities

may

not

be

as

liquid

as

U.S.

securities.

Investing

in

China

A

shares

may

include

certain

risks

and

considerations

not

typically

associated

with

investing

in

U.S.

securities.

In

general,

A

shares

are

issued

by

companies

incorporated

in

the

People’s

Republic

of

China

(PRC)

and

listed

on

the

Shanghai

and

Shenzhen

Stock

Exchanges

and

available

for

investment

by

domestic

(Chinese)

investors

and

holders

of

a

Qualified

Foreign

Institutional

Investor

(QFII)

license

and,

in

the

case

of

certain

eligible

A

shares,

through

the

Shanghai

and

Shenzhen

Stock

Connect

programs.

The

Shanghai

and

Shenzhen

Stock

Exchanges

are,

however,

substantially

smaller,

less

liquid

and

more

volatile

than

the

major

securities

markets

in

the

United

States.

4.

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.

5.

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

November

30,

2021,

the

Fund

held

investments

in

affiliated

management

investment

companies

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  

Franklin

Templeton

SMACS

Series

EM

Non-Controlled

Affiliates

Dividends

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

0.01%

.

$—

$308,646

$(225,250)

$—

$—

$83,396

83,396

$1

Total

Affiliated

Securities

...

$—

$308,646

$(225,250)

$—

$—

$83,396

$1

2. Financial

Instrument

Valuation

(continued)

Templeton

Global

Investment

Trust

Notes

to

Statement

of

Investments

(unaudited)

6

Quarterly

Statement

of

Investments

6. 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

November

30,

2021,

in

valuing

the Fund's

assets

carried

at

fair

value,

is

as

follows:  

7.

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.

Level

1

Level

2

Level

3

Total

Franklin

Templeton

SMACS

Series

EM

Assets:

Investments

in

Securities:

Common

Stocks

:

Auto

Components

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

$

4,186

$

3,027

$

—

$

7,213

Automobiles

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

—

17,907

—

17,907

Banks

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

—

93,781

—

93,781

Beverages

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

—

6,970

—

6,970

Capital

Markets

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

17,126

—

—

17,126

Chemicals

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

—

59,595

—

59,595

Construction

Materials

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

—

39,271

—

39,271

Electronic

Equipment,

Instruments

&

Components

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

—

25,146

—

25,146

Food

&

Staples

Retailing

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

12,469

—

—

12,469

Food

Products

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

6,791

15,911

—

22,702

Hotels,

Restaurants

&

Leisure

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

—

8,027

—

8,027

Industrial

Conglomerates

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

—

41,786

—

41,786

Insurance

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

—

29,589

—

29,589

Interactive

Media

&

Services

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

—

90,913

—

90,913

Internet

&

Direct

Marketing

Retail

..........

9,264

—

—

9,264

Life

Sciences

Tools

&

Services

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

—

8,103

—

8,103

Pharmaceuticals

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

17,768

—

—

17,768

Real

Estate

Management

&

Development

....

10,995

17,021

—

28,016

Semiconductors

&

Semiconductor

Equipment

.

—

189,687

—

189,687

Software

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

—

21,217

—

21,217

Technology

Hardware,

Storage

&

Peripherals

.

—

230,063

—

230,063

Textiles,

Apparel

&

Luxury

Goods

..........

—

16,495

—

16,495

Transportation

Infrastructure

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

—

7,508

—

7,508

Short

Term

Investments

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

83,396

—

—

83,396

Total

Investments

in

Securities

...........

$161,995

$922,017

a

$—

$1,084,012

a

Includes

foreign

securities

valued

at

$922,017,

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.

Templeton

Global

Investment

Trust

Notes

to

Statement

of

Investments

(unaudited)

7

Quarterly

Statement

of

Investments

Abbreviations

Selected

Portfolio

GDR

Global

Depositary

Receipt

For

add

itional

information

on

the

Fund

'

s

significant

accounting

pol

icies,

please

refer

to

the Fund

'

s

most

recent

semiannual

or

annual

shareholder

report.