Templeton Global Investment Trust NPORT-P Templeton Global Balanced Fund (Mar 2022 report)

Not

FDIC

Insured

May

Lose

Value

No

Bank

Guarantee

325-Q1PH

1

Schedule

of

Investments

(unaudited)

Templeton

Global

Balanced

Fund

2

Notes

to

Schedule

of

Investments

12

Templeton

Global

Investment

Trust

Schedule

of

Investments

(unaudited),

March

31,

2022

Templeton

Global

Balanced

Fund

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

2

.

a

a

Industry

Shares

a

Value

a

Common

Stocks

48.8%

China

1.6%

a

Alibaba

Group

Holding

Ltd.

.........

Internet

&

Direct

Marketing

Retail

418,800

$

5,715,280

NXP

Semiconductors

NV

..........

Semiconductors

&

Semiconductor

Equipment

14,790

2,737,333

8,452,613

France

0.8%

Dassault

Aviation

SA

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

Aerospace

&

Defense

26,270

4,149,043

Germany

1.0%

a

Continental

AG

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

Auto

Components

24,511

1,757,340

Deutsche

Boerse

AG

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

Capital

Markets

19,935

3,589,003

5,346,343

Hong

Kong

1.3%

AIA

Group

Ltd.

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

Insurance

661,800

6,910,484

India

1.1%

Housing

Development

Finance

Corp.

Ltd.

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

Thrifts

&

Mortgage

Finance

189,149

5,902,437

Ireland

0.5%

a

Ryanair

Holdings

plc,

ADR

.........

Airlines

29,900

2,604,888

Japan

3.2%

Hitachi

Ltd.

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

Industrial

Conglomerates

113,500

5,680,717

Honda

Motor

Co.

Ltd.

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

Automobiles

169,800

4,813,717

Seria

Co.

Ltd.

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

Multiline

Retail

141,600

3,215,262

Toyota

Industries

Corp.

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

Machinery

43,700

3,014,510

16,724,206

Netherlands

1.5%

NN

Group

NV

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

Insurance

70,738

3,585,401

SBM

Offshore

NV

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

Energy

Equipment

&

Services

277,370

4,397,628

7,983,029

South

Africa

0.0%

a,b,c

K2016470219

South

Africa

Ltd.,

A

....

Multiline

Retail

32,900,733

—

a,b,c

K2016470219

South

Africa

Ltd.,

B

....

Multiline

Retail

4,646,498

—

—

South

Korea

1.3%

Samsung

Electronics

Co.

Ltd.

.......

Technology

Hardware,

Storage

&

Peripherals

118,294

6,754,340

Spain

0.4%

a

Amadeus

IT

Group

SA

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

IT

Services

33,447

2,174,955

Switzerland

0.8%

Adecco

Group

AG

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

Professional

Services

92,829

4,210,868

Taiwan

1.8%

Taiwan

Semiconductor

Manufacturing

Co.

Ltd.

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

Semiconductors

&

Semiconductor

Equipment

443,300

9,099,837

United

Kingdom

5.9%

a

Allfunds

Group

plc

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

Capital

Markets

139,027

1,592,768

AstraZeneca

plc

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

Pharmaceuticals

34,123

4,525,499

Compass

Group

plc

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

Hotels,

Restaurants

&

Leisure

162,596

3,499,348

Diageo

plc

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

Beverages

100,236

5,084,816

a

Farfetch

Ltd.,

A

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

Internet

&

Direct

Marketing

Retail

59,100

893,592

Imperial

Brands

plc

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

Tobacco

140,833

2,966,837

a

Informa

plc

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

Media

454,787

3,563,536

Templeton

Global

Investment

Trust

Schedule

of

Investments

(unaudited)

Templeton

Global

Balanced

Fund

(continued)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

3

a

a

Industry

Shares

a

Value

a

Common

Stocks

(continued)

United

Kingdom

(continued)

a,d

Just

Eat

Takeaway.com

NV,

144A,

Reg

S

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

Internet

&

Direct

Marketing

Retail

134,248

$

4,503,007

Prudential

plc,

(HKD

Traded)

........

Insurance

27,150

392,393

Prudential

plc,

(GBP

Traded)

........

Insurance

251,954

3,719,949

30,741,745

United

States

27.6%

a

Alphabet,

Inc.,

A

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

Interactive

Media

&

Services

2,843

7,907,378

a

Amazon.com,

Inc.

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

Internet

&

Direct

Marketing

Retail

2,823

9,202,839

American

Express

Co.

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

Consumer

Finance

22,900

4,282,300

a

Array

Technologies,

Inc.

...........

Electrical

Equipment

233,500

2,631,545

a

Berkshire

Hathaway,

Inc.,

B

.........

Diversified

Financial

Services

18,800

6,634,708

a

Booking

Holdings,

Inc.

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

Hotels,

Restaurants

&

Leisure

2,943

6,911,488

Comcast

Corp.,

A

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

Media

152,124

7,122,446

DuPont

de

Nemours,

Inc.

..........

Chemicals

65,500

4,819,490

a

DXC

Technology

Co.

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

IT

Services

184,800

6,030,024

a

F5,

Inc.

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

Communications

Equipment

39,800

8,316,210

FedEx

Corp.

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

Air

Freight

&

Logistics

29,300

6,779,727

Freeport-McMoRan,

Inc.

...........

Metals

&

Mining

39,600

1,969,704

General

Dynamics

Corp.

...........

Aerospace

&

Defense

18,400

4,437,712

HCA

Healthcare,

Inc.

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

Health

Care

Providers

&

Services

12,500

3,132,750

International

Paper

Co.

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

Containers

&

Packaging

77,600

3,581,240

Keurig

Dr

Pepper,

Inc.

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

Beverages

89,700

3,399,630

a

LivaNova

plc

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

Health

Care

Equipment

&

Supplies

21,800

1,783,894

LyondellBasell

Industries

NV,

A

......

Chemicals

51,700

5,315,794

Marathon

Petroleum

Corp.

.........

Oil,

Gas

&

Consumable

Fuels

61,900

5,292,450

Medtronic

plc

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

Health

Care

Equipment

&

Supplies

26,900

2,984,555

a

Meta

Platforms,

Inc.,

A

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

Interactive

Media

&

Services

15,022

3,340,292

Micron

Technology,

Inc.

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

Semiconductors

&

Semiconductor

Equipment

27,700

2,157,553

Paramount

Global,

B

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

Media

96,300

3,641,103

a

Sabre

Corp.

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

IT

Services

143,500

1,640,205

a

Southwest

Airlines

Co.

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

Airlines

56,900

2,606,020

a

T-Mobile

US,

Inc.

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

Wireless

Telecommunication

Services

47,600

6,109,460

UnitedHealth

Group,

Inc.

...........

Health

Care

Providers

&

Services

12,910

6,583,713

a

Walt

Disney

Co.

(The)

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

Entertainment

41,700

5,719,572

Westinghouse

Air

Brake

Technologies

Corp.

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

Machinery

52,600

5,058,542

Zimmer

Biomet

Holdings,

Inc.

.......

Health

Care

Equipment

&

Supplies

43,400

5,550,860

144,943,204

Total

Common

Stocks

(Cost

$217,905,403)

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

255,997,992

Principal

Amount

*

a

a

a

a

a

Corporate

Bonds

0.0%

South

Africa

0.0%

b,d,e

K2016470219

South

Africa

Ltd.

,

Senior

Secured

Note,

144A,

PIK,

3%,

12/31/22

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

Multiline

Retail

2,809,081

—

Senior

Secured

Note,

144A,

PIK,

8%,

12/31/22

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

Multiline

Retail

2,816,660

EUR

—

Templeton

Global

Investment

Trust

Schedule

of

Investments

(unaudited)

Templeton

Global

Balanced

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

4

a

a

Industry

Principal

Amount

*

a

Value

a

a

a

a

a

a

Corporate

Bonds

(continued)

South

Africa

(continued)

b,d,e

K2016470260

South

Africa

Ltd.

,

Senior

Secured

Note

,

144A,

PIK,

25

%

,

12/31/22

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

Multiline

Retail

1,584,414

$

—

—

Total

Corporate

Bonds

(Cost

$4,389,520)

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

—

a

a

Industry

Principal

Amount

*

a

Value

Foreign

Government

and

Agency

Securities

24.1%

Argentina

1.7%

f

Argentina

BONCER

,

Index

Linked,

1.3%,

9/20/22

.......

179,385,812

ARS

962,395

Index

Linked,

1.4%,

3/25/23

.......

626,439,365

ARS

3,373,572

Index

Linked,

1.45%,

8/13/23

......

34,751,428

ARS

188,585

Index

Linked,

1.5%,

3/25/24

.......

539,489,339

ARS

2,866,430

Argentina

Government

Bond

,

16%,

10/17/23

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

308,428,000

ARS

1,084,005

15.5%,

10/17/26

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

243,952,000

ARS

526,415

9,001,402

Brazil

1.3%

Brazil

Notas

do

Tesouro

Nacional

,

10%,

1/01/25

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

6,510,000

BRL

1,324,467

10%,

1/01/27

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

19,590,000

BRL

3,915,891

10%,

1/01/29

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

2,780,000

BRL

545,020

10%,

1/01/31

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

4,450,000

BRL

854,101

6,639,479

Colombia

1.7%

Colombia

Government

Bond

,

Senior

Bond,

4.375%,

3/21/23

.....

52,000,000

COP

13,496

Senior

Bond,

9.85%,

6/28/27

......

83,000,000

COP

23,023

Colombia

Titulos

de

Tesoreria

,

B,

7%,

5/04/22

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

1,382,200,000

COP

367,015

B,

10%,

7/24/24

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

1,738,000,000

COP

473,231

B,

6.25%,

11/26/25

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

3,538,000,000

COP

854,701

B,

7.5%,

8/26/26

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

26,717,000,000

COP

6,634,664

B,

5.75%,

11/03/27

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

2,434,000,000

COP

545,795

8,911,925

Dominican

Republic

0.5%

d

Dominican

Republic

Government

Bond

,

Senior

Bond,

144A,

5.3%,

1/21/41

..

1,240,000

1,080,362

Senior

Bond,

144A,

5.875%,

1/30/60

1,480,000

1,272,800

2,353,162

Ecuador

1.2%

d

Ecuador

Government

Bond

,

Senior

Bond,

144A,

0.5%,

7/31/35

..

6,275,000

4,110,188

Senior

Bond,

144A,

0.5%,

7/31/40

..

599,000

340,537

Senior

Note,

144A,

0.5%,

7/31/30

..

2,460,000

2,045,515

6,496,240

Templeton

Global

Investment

Trust

Schedule

of

Investments

(unaudited)

Templeton

Global

Balanced

Fund

(continued)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

5

a

a

Industry

Principal

Amount

*

a

Value

a

a

a

a

a

a

Foreign

Government

and

Agency

Securities

(continued)

Egypt

0.7%

d

Egypt

Government

Bond

,

Senior

Bond,

144A,

7.625%,

5/29/32

400,000

$

363,408

Senior

Bond,

144A,

7.3%,

9/30/33

..

1,140,000

998,577

Senior

Bond,

144A,

8.5%,

1/31/47

..

760,000

650,135

Senior

Bond,

144A,

7.903%,

2/21/48

240,000

195,623

Senior

Bond,

144A,

8.7%,

3/01/49

..

200,000

171,554

Senior

Bond,

144A,

8.875%,

5/29/50

780,000

677,368

Senior

Bond,

144A,

8.75%,

9/30/51

.

400,000

345,757

Senior

Bond,

144A,

7.5%,

2/16/61

..

510,000

406,582

3,809,004

El

Salvador

0.0%

†

d

El

Salvador

Government

Bond,

Senior

Bond,

144A,

7.65%,

6/15/35

.......

100,000

47,560

Ghana

1.5%

Ghana

Government

Bond

,

18.25%,

7/25/22

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

8,040,000

GHS

1,080,327

20.75%,

1/16/23

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

640,000

GHS

87,817

18.85%,

9/28/23

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

1,750,000

GHS

234,305

19.25%,

12/18/23

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

580,000

GHS

77,294

19.75%,

3/25/24

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

6,470,000

GHS

858,445

19%,

11/02/26

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

25,220,000

GHS

3,161,371

19.75%,

3/15/32

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

18,450,000

GHS

2,274,562

Senior

Note,

18.5%,

1/02/23

......

390,000

GHS

52,684

Senior

Note,

17.6%,

2/20/23

......

50,000

GHS

6,710

Senior

Note,

17.25%,

7/31/23

......

1,420,000

GHS

187,579

Senior

Note,

18.3%,

3/02/26

......

105,000

GHS

13,083

8,034,177

India

3.2%

India

Government

Bond

,

7.16%,

5/20/23

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

83,000,000

INR

1,122,661

8.2%,

9/24/25

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

289,100,000

INR

4,074,102

7.59%,

1/11/26

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

369,200,000

INR

5,116,347

7.27%,

4/08/26

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

280,500,000

INR

3,850,945

Senior

Note,

5.22%,

6/15/25

......

93,000,000

INR

1,208,927

Senior

Note,

5.15%,

11/09/25

......

115,000,000

INR

1,481,279

16,854,261

Indonesia

4.3%

Indonesia

Government

Bond

,

FR46,

9.5%,

7/15/23

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

46,249,000,000

IDR

3,448,407

FR70,

8.375%,

3/15/24

..........

69,668,000,000

IDR

5,213,294

FR81,

6.5%,

6/15/25

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

50,707,000,000

IDR

3,679,813

FR86,

5.5%,

4/15/26

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

142,120,000,000

IDR

9,928,619

22,270,133

Mexico

0.3%

Mexican

Bonos

Desarr

Fixed

Rate

,

M,

Senior

Bond,

8%,

12/07/23

.....

23,070,000

MXN

1,152,746

M

20,

10%,

12/05/24

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

8,530,000

MXN

444,391

1,597,137

Templeton

Global

Investment

Trust

Schedule

of

Investments

(unaudited)

Templeton

Global

Balanced

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

6

a

a

Industry

Principal

Amount

*

a

Value

a

a

a

a

a

a

Foreign

Government

and

Agency

Securities

(continued)

Mongolia

0.2%

d

Mongolia

Government

Bond

,

144A,

4.45%,

7/07/31

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

400,000

$

361,594

Senior

Note,

144A,

5.125%,

4/07/26

.

200,000

197,851

Senior

Note,

144A,

3.5%,

7/07/27

..

400,000

363,916

923,361

South

Korea

6.0%

Korea

Monetary

Stabilization

Bond,

Senior

Note,

0.905%,

4/02/23

......

5,160,000,000

KRW

4,211,202

Korea

Treasury

Bond

,

2.25%,

9/10/23

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

876,000,000

KRW

722,732

3.375%,

9/10/23

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

643,000,000

KRW

538,899

0.875%,

12/10/23

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

12,469,000,000

KRW

10,026,988

1.875%,

3/10/24

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

2,205,000,000

KRW

1,797,598

1.375%,

9/10/24

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

5,035,400,000

KRW

4,023,429

3%,

9/10/24

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

745,000,000

KRW

618,676

Senior

Note,

1.125%,

6/10/24

......

12,125,400,000

KRW

9,688,224

31,627,748

Sri

Lanka

0.3%

d

Sri

Lanka

Government

Bond

,

Senior

Bond,

144A,

6.85%,

11/03/25

600,000

297,822

Senior

Bond,

144A,

6.2%,

5/11/27

..

1,600,000

760,000

Senior

Bond,

144A,

6.75%,

4/18/28

.

200,000

95,320

Senior

Bond,

144A,

7.85%,

3/14/29

.

200,000

97,000

Senior

Note,

144A,

5.75%,

4/18/23

..

200,000

100,088

Senior

Note,

144A,

6.35%,

6/28/24

..

400,000

200,000

1,550,230

Supranational

0.6%

g

Inter-American

Development

Bank,

Senior

Bond,

7.5%,

12/05/24

......

60,000,000

MXN

2,907,252

Thailand

0.6%

Thailand

Government

Bond

,

0.75%,

9/17/24

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

34,730,000

THB

1,035,149

1%,

6/17/27

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

42,040,000

THB

1,224,347

Thailand

Treasury

Bond,

Senior

Note,

0.66%,

11/22/23

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

35,490,000

THB

1,063,991

3,323,487

Total

Foreign

Government

and

Agency

Securities

(Cost

$165,746,034)

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

126,346,558

Shares

Escrows

and

Litigation

Trusts

0.0%

a,b

K2016470219

South

Africa

Ltd.,

Escrow

Account

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

168,113

—

Total

Escrows

and

Litigation

Trusts

(Cost

$–)

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

—

Total

Long

Term

Investments

(Cost

$388,040,957)

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

382,344,550

Templeton

Global

Investment

Trust

Schedule

of

Investments

(unaudited)

Templeton

Global

Balanced

Fund

(continued)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

7

a

a  

Number

of

Contracts

Notional

Amount

#

a

Value

a

a

a

a

aa

a

a

Options

Purchased

0.0%

†

Calls

-

Over-the-Counter

Currency

Options

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

September

Strike

Price

21.67

MXN,

Expires

9/27/22

..

1

1,146,000

$

18,712

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

May

Strike

Price

22.69

MXN,

Expires

5/24/22

.......

1

5,561,000

4,567

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

August

Strike

Price

29.19

MXN,

Expires

8/29/24

..

1

1,405,000

31,785

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

August

Strike

Price

29.71

MXN,

Expires

8/09/24

..

1

1,406,000

28,301

83,365

Puts

-

Over-the-Counter

Currency

Options

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

May

Strike

Price

19.31

MXN,

Expires

5/26/22

.......

1

401,000

1,398

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

August

Strike

Price

19.41

MXN,

Expires

8/11/22

..

1

456,000

3,963

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

May

Strike

Price

20.17

MXN,

Expires

5/26/22

.......

1

802,000

15,270

20,631

Total

Options

Purchased

(Cost

$418,082)

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

103,996

Short

Term

Investments

24.9%

a

a

Principal

Amount

*

a

Value

a

a

a

a

a

a

Foreign

Government

and

Agency

Securities

6.4%

Argentina

0.1%

f,h

Letras

de

la

Nacion

Argentina

con

Ajuste

por

CER

,

Index

Linked,

5/23/22

....

76,885,799

ARS

411,129

Brazil

3.7%

h

Brazil

Letras

do

Tesouro

Nacional

,

1/01/24

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

11,220,000

BRL

1,929,274

7/01/24

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

52,870,000

BRL

8,663,160

1/01/25

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

57,070,000

BRL

8,880,152

19,472,586

Singapore

2.5%

h

Singapore

Treasury

Bills

,

5/13/22

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

750,000

SGD

552,805

5/20/22

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

11,430,000

SGD

8,422,975

1/24/23

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

5,300,000

SGD

3,878,642

12,854,422

Templeton

Global

Investment

Trust

Schedule

of

Investments

(unaudited)

Templeton

Global

Balanced

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

8

Short

Term

Investments

(continued)

a

a

Principal

Amount

*

a

Value

a

a

a

a

a

a

Foreign

Government

and

Agency

Securities

(continued)

Thailand

0.1%

h

Thailand

Treasury

Bills

,

6/22/22

......

20,200,000

THB

$

606,514

Total

Foreign

Government

and

Agency

Securities

(Cost

$32,723,026)

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

33,344,651

Industry

Shares

Money

Market

Funds

18.5%

United

States

18.5%

i,j

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

0.01%

..........

97,249,498

97,249,498

Total

Money

Market

Funds

(Cost

$97,249,498)

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

97,249,498

a

a

a

a

a

Total

Short

Term

Investments

(Cost

$129,972,524

)

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

130,594,149

a

a

a

a

Total

Investments

(Cost

$518,431,563)

97.8%

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

$513,042,695

Options

Written

(

0.0

)

%

†

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

(35,158)

Other

Assets,

less

Liabilities

2.2%

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

11,828,477

Net

Assets

100.0%

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

$524,836,014

a

a

a

a

a

a

Number

of

Contracts

Notional

Amount

#

a

a

a

a

a

a

a

Options

Written

(0.0)%

†

a

Calls

-

Over-the-Counter

a

Currency

Options

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

August

Strike

Price

22.06

MXN,

Expires

8/11/22

..

1

456,000

(3,787)

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

September

Strike

Price

23.09

MXN,

Expires

9/27/22

..

1

573,000

(4,181)

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

May

Strike

Price

25.65

MXN,

Expires

5/24/22

.......

1

2,185,000

(236)

(8,204)

Puts

-

Over-the-Counter

Currency

Options

Foreign

Exchange

USD/MXN,

Counterparty

CITI,

May

Strike

Price

19.84

MXN,

Expires

5/26/22

.......

1

1,203,000

(12,747)

Foreign

Exchange

USD/MXN,

Counterparty

MSCO,

August

Strike

Price

20.50

MXN,

Expires

8/11/22

..

1

456,000

(14,207)

(26,954)

Total

Options

Written

(Premiums

received

$55,546)

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

$

(35,158)

Templeton

Global

Investment

Trust

Schedule

of

Investments

(unaudited)

Templeton

Global

Balanced

Fund

(continued)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

9

At

March

31,

2022,

the

Fund

had

the

following

forward

exchange

contracts

outstanding.

See

Note

3

. 

#

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

Fair

valued

using

significant

unobservable

inputs.

See

Note

8

regarding

fair

value

measurements.

c

See

Note

6

regarding

restricted

securities.

d

Security

was

purchased

pursuant

to

Rule

144A

or

Regulation

S

under

the

Securities

Act

of

1933.

144A

securities

may

be

sold

in

transactions

exempt

from

registration

only

to

qualified

institutional

buyers

or

in

a

public

offering

registered

under

the

Securities

Act

of

1933.

Regulation

S

securities

cannot

be

sold

in

the

United

States

without

either

an

effective

registration

statement

filed

pursuant

to

the

Securities

Act

of

1933,

or

pursuant

to

an

exemption

from

registration.

At

March

31,

2022,

the

aggregate

value

of

these

securities

was

$19,682,564,

representing

3.8%

of

net

assets.

e

Income

may

be

received

in

additional

securities

and/or

cash.

f

Redemption

price

at

maturity

is

adjusted

for

inflation.

g

A

supranational

organization

is

an

entity

formed

by

two

or

more

central

governments

through

international

treaties.

h

The

security

was

issued

on

a

discount

basis

with

no

stated

coupon

rate.

i

See

Note

7

regarding

investments

in

affiliated

management

investment

companies.

j

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

Euro

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

DBAB

Sell

653,864

6,689,000

NOK

4/01/22

$

36,506

$

—

Euro

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

JPHQ

Sell

11,741,488

120,073,113

NOK

4/01/22

650,790

—

Norwegian

Krone

...

DBAB

Sell

6,689,000

678,652

EUR

4/01/22

—

(9,080)

Norwegian

Krone

...

JPHQ

Sell

120,073,113

12,179,406

EUR

4/01/22

—

(166,277)

Russian

Ruble

.....

JPHQ

Buy

22,879,310

204,225

4/01/22

77,367

—

Russian

Ruble

.....

JPHQ

Sell

22,879,310

206,120

4/01/22

—

(75,472)

Chilean

Peso

......

JPHQ

Buy

764,851,089

884,068

4/05/22

87,880

—

Chilean

Peso

......

JPHQ

Sell

764,851,089

969,393

4/05/22

—

(2,554)

Indian

Rupee

......

JPHQ

Buy

113,941,400

1,500,809

4/07/22

—

(878)

Indian

Rupee

......

CITI

Buy

110,703,100

1,461,427

4/08/22

—

(4,360)

Indian

Rupee

......

JPHQ

Buy

147,383,500

1,942,579

4/08/22

—

(2,728)

Chilean

Peso

......

GSCO

Buy

383,191,856

474,835

4/11/22

11,645

—

Chilean

Peso

......

JPHQ

Buy

1,262,000,000

1,505,069

4/11/22

97,098

—

Indian

Rupee

......

CITI

Buy

133,442,300

1,750,293

4/12/22

4,932

—

Indian

Rupee

......

HSBK

Buy

133,568,000

1,748,959

4/12/22

7,918

—

Euro

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

JPHQ

Sell

2,085,178

21,150,000

SEK

4/13/22

—

(58,398)

Mexican

Peso

......

CITI

Buy

36,742,000

1,765,509

4/13/22

78,753

—

Mexican

Peso

......

CITI

Sell

36,742,000

1,756,310

4/13/22

—

(87,952)

Euro

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

DBAB

Sell

1,640,547

16,628,116

SEK

4/14/22

—

(47,241)

Euro

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

DBAB

Sell

1,242,835

12,471,100

SEK

4/19/22

—

(49,258)

Chilean

Peso

......

GSCO

Buy

1,180,420,130

1,450,933

5/03/22

42,376

—

Euro

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

HSBK

Sell

2,938,382

4,364,673

CAD

5/03/22

236,974

—

Euro

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

JPHQ

Sell

4,242,332

6,222,415

CAD

5/03/22

278,837

—

Indian

Rupee

......

CITI

Buy

82,812,900

1,095,119

5/10/22

—

(10,511)

Chilean

Peso

......

GSCO

Buy

681,736,936

859,498

5/11/22

1,691

—

Chinese

Yuan

......

JPHQ

Buy

29,990,050

4,685,433

5/11/22

22,388

—

Chilean

Peso

......

GSCO

Buy

487,000,000

603,582

5/16/22

11,042

—

Australian

Dollar

....

MSCO

Sell

3,379,000

2,410,606

5/17/22

—

(119,667)

Indian

Rupee

......

HSBK

Buy

133,941,730

1,741,606

5/17/22

11,143

—

Euro

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

DBAB

Sell

677,172

6,689,000

NOK

5/18/22

9,250

—

Templeton

Global

Investment

Trust

Schedule

of

Investments

(unaudited)

Templeton

Global

Balanced

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

10

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)

Euro

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

DBAB

Sell

4,049,132

41,596,330

SEK

5/18/22

$

—

$

(59,425)

Russian

Ruble

.....

MSCO

Buy

200,145,100

2,563,498

5/23/22

—

(270,757)

Russian

Ruble

.....

MSCO

Sell

200,145,100

1,461,923

5/23/22

—

(830,818)

Russian

Ruble

.....

JPHQ

Buy

23,164,615

256,203

5/25/22

8,626

—

Russian

Ruble

.....

JPHQ

Sell

23,164,615

185,317

5/25/22

—

(79,512)

Mexican

Peso

......

CITI

Buy

36,742,000

1,750,116

5/31/22

77,666

—

Mexican

Peso

......

CITI

Sell

36,917,000

1,668,110

5/31/22

—

(168,379)

Australian

Dollar

....

CITI

Sell

6,151,000

4,598,112

6/07/22

10,588

(20,566)

Japanese

Yen

......

CITI

Buy

519,174,000

4,598,621

6/07/22

—

(326,815)

Japanese

Yen

......

CITI

Sell

519,174,000

4,387,228

6/07/22

115,422

—

Thai

Baht

.........

DBAB

Buy

130,900,000

4,027,383

6/07/22

—

(89,277)

Chinese

Yuan

......

BOFA

Buy

23,581,730

3,650,694

6/08/22

45,402

—

Chinese

Yuan

......

BOFA

Buy

19,668,730

3,092,470

6/09/22

—

(9,824)

Chinese

Yuan

......

CITI

Buy

30,403,810

4,706,982

6/09/22

58,154

—

Chinese

Yuan

......

JPHQ

Buy

11,668,020

1,807,168

6/10/22

21,455

—

Russian

Ruble

.....

DBAB

Buy

313,041,100

3,988,199

6/10/22

—

(340,106)

Russian

Ruble

.....

DBAB

Sell

313,041,100

2,213,250

6/10/22

—

(1,434,842)

Mexican

Peso

......

MSCO

Sell

16,561,000

789,392

6/13/22

—

(32,543)

Chilean

Peso

......

GSCO

Buy

3,071,765,074

3,740,723

6/15/22

114,240

—

Chinese

Yuan

......

HSBK

Buy

21,692,020

3,408,551

6/15/22

—

(9,747)

Euro

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

DBAB

Sell

648,944

6,561,800

SEK

6/15/22

—

(20,989)

Euro

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

DBAB

Sell

1,059,287

10,786,400

NOK

6/16/22

49,488

—

Chilean

Peso

......

JPHQ

Buy

1,449,610,000

1,755,826

6/17/22

62,688

—

New

Zealand

Dollar

.

BOFA

Buy

1,200,000

804,480

6/17/22

26,039

—

Euro

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

DBAB

Sell

851,288

8,716,000

NOK

6/20/22

44,994

—

Euro

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

DBAB

Sell

3,438,599

35,502,500

NOK

6/22/22

215,001

—

Euro

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

JPHQ

Sell

669,000

765,822

6/22/22

23,292

—

Euro

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

JPHQ

Sell

1,931,482

2,771,600

CAD

6/22/22

72,786

—

Australian

Dollar

....

CITI

Sell

2,121,000

1,584,747

6/27/22

—

(4,924)

Chilean

Peso

......

JPHQ

Buy

764,851,089

954,394

6/29/22

2,886

—

Euro

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

DBAB

Sell

1,006,479

10,392,000

SEK

7/06/22

—

(10,042)

Chinese

Yuan

......

CITI

Buy

19,903,590

3,088,318

7/12/22

26,617

—

Chinese

Yuan

......

HSBK

Buy

21,550,930

3,352,300

7/18/22

19,697

—

Euro

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

DBAB

Sell

1,020,706

10,071,000

NOK

7/19/22

9,193

—

Euro

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

DBAB

Sell

1,240,535

12,471,100

SEK

7/19/22

—

(48,764)

Euro

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

JPHQ

Sell

1,373,039

13,536,100

NOK

7/19/22

11,088

—

Australian

Dollar

....

DBAB

Sell

3,330,000

2,394,464

7/25/22

—

(102,769)

Euro

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

DBAB

Sell

1,877,000

2,146,198

7/27/22

58,811

—

Indian

Rupee

......

JPHQ

Buy

113,619,700

1,492,051

7/27/22

—

(16,416)

Euro

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

HSBK

Sell

12,106,495

17,473,018

CAD

8/03/22

503,078

—

Euro

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

JPHQ

Sell

1,918,773

2,771,610

CAD

8/03/22

81,565

—

Chilean

Peso

......

GSCO

Buy

712,184,411

848,546

8/08/22

36,344

—

Chinese

Yuan

......

JPHQ

Buy

14,973,410

2,341,725

8/22/22

—

(1,926)

Russian

Ruble

.....

JPHQ

Buy

41,419,900

518,427

8/24/22

—

(19,356)

Russian

Ruble

.....

JPHQ

Sell

41,419,900

274,304

8/24/22

—

(224,768)

Russian

Ruble

.....

MSCO

Buy

123,931,100

1,433,558

8/24/22

59,698

—

Russian

Ruble

.....

MSCO

Sell

123,931,100

821,552

8/24/22

—

(671,704)

Mexican

Peso

......

MSCO

Sell

14,156,000

675,623

8/31/22

—

(16,539)

South

Korean

Won

..

HSBK

Buy

11,700,000,000

9,520,710

9/14/22

117,259

—

Euro

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

DBAB

Sell

715,005

7,070,900

NOK

9/15/22

5,870

—

Russian

Ruble

.....

DBAB

Buy

182,569,600

2,273,311

9/15/22

—

(125,292)

Russian

Ruble

.....

DBAB

Sell

182,569,600

1,337,891

9/15/22

—

(810,127)

Euro

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

DBAB

Sell

4,134,032

43,650,000

SEK

9/19/22

54,612

—

Euro

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

JPHQ

Sell

12,646,141

125,772,700

NOK

9/19/22

181,705

—

Australian

Dollar

....

CITI

Sell

1,464,000

1,071,929

9/21/22

—

(27,227)

New

Zealand

Dollar

.

CITI

Buy

1,410,000

959,494

9/21/22

14,282

—

New

Zealand

Dollar

.

JPHQ

Buy

5,360,000

3,654,823

9/21/22

46,905

—

Templeton

Global

Investment

Trust

Schedule

of

Investments

(unaudited)

Templeton

Global

Balanced

Fund

(continued)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

11

At

March

31,

2022,

the

Fund

had

the

following

interest

rate

swap

contracts

outstanding.

See

Note

3. 

See

Abbreviations

on

page

17

.

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)

Chilean

Peso

......

JPHQ

Buy

764,848,911

922,839

10/26/22

$

14,269

$

—

Mexican

Peso

......

MSCO

Sell

11,089,000

507,622

12/27/22

—

(21,908)

Chilean

Peso

......

GSCO

Buy

523,350,000

619,642

3/07/23

8,014

—

Mexican

Peso

......

CITI

Sell

6,638,000

288,992

10/23/23

—

(11,834)

Total

Forward

Exchange

Contracts

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

$3,864,324

$(6,441,572)

Net

unrealized

appreciation

(depreciation)

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

$(2,577,248)

*

In

U.S.

dollars

unless

otherwise

indicated.

a

May

be

comprised

of

multiple

contracts

with

the

same

counterparty,

currency

and

settlement

date.

Interest

Rate

Swap

Contracts

Description

Payment

Frequency

Counter-

party

Maturity

Date

Notional

Amount

Value

Unamortized

Upfront

Payments

(Receipts)

Unrealized

Appreciation

(Depreciation)

aa

aa

aa

aa

Centrally

Cleared

Swap

Contracts

Receive

Floating

1-day

SOFR

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

Annual

Pay

Fixed

1.762%

...

Annual

3/15/27

3,000,000

$

65,493

$

—

$

65,493

Receive

Floating

1-day

SOFR

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

Annual

Pay

Fixed

1.811%

...

Annual

3/15/32

1,600,000

42,309

—

42,309

Receive

Floating

1-day

SOFR

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

Annual

Pay

Fixed

2.176%

...

Annual

3/28/32

890,000

(2,546)

—

(2,546)

Receive

Floating

1-day

SOFR

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

Annual

Pay

Fixed

2.257%

...

Annual

3/30/32

890,000

(11,609)

—

(11,609)

Receive

Floating

1-day

SOFR

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

Annual

Pay

Fixed

2.253%

...

Annual

3/31/32

890,000

(8,620)

—

(8,620)

Total

Interest

Rate

Swap

Contracts

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

$85,027

$

—

$85,027

Templeton

Global

Investment

Trust

Notes

to

Schedule

of

Investments

(unaudited)

Templeton

Global

Balanced

Fund

12

Quarterly

Schedule

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). 

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.

Investments

in

repurchase

agreements

are

valued

at

cost,

which

approximates

fair

value.

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

Schedule

of

Investments

(unaudited)

13

Quarterly

Schedule

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,

2022,

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.

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

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

Schedule

of

Investments

(unaudited)

14

Quarterly

Schedule

of

Investments

Templeton

Global

Balanced

Fund

(continued)

The

Fund

entered

into

exchange

traded

futures

contracts

primarily

to

manage

and/or

gain

exposure

to

equity

price

risk.

A

futures

contract

is

an

agreement

between

the

Fund

and

a

counterparty

to

buy

or

sell

an

asset

at

a

specified

price

on

a

future

date.

Required

initial

margins

are

pledged

by

the

Fund,

and

the

daily

change

in

fair

value

is

accounted

for

as

a

variation

margin

payable

or

receivable.

The

Fund

did

not

hold

any

futures

contracts

at

period

end.

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.

The

Fund entered

into

interest

rate

swap

contracts

primarily

to

manage

interest

rate

risk.

An

interest

rate

swap

is

an

agreement

between

the

Fund

and

a

counterparty

to

exchange

cash

flows

based

on

the

difference

between

two

interest

rates,

applied

to

a

notional

amount.

These

agreements

may

be

privately

negotiated

in

the

over-the-counter

market

(OTC

interest

rate

swaps)

or

may

be

executed

on

a

registered

exchange

(centrally

cleared

interest

rate

swaps).

For

centrally

cleared

interest

rate

swaps,

required

initial

margins

are

pledged

by

the

Fund,

and

the

daily

change

in

fair

value

is

accounted

for

as

a

variation

margin

payable

or

receivable.

Over

the

term

of

the

contract,

contractually

required

payments

to

be

paid

and

to

be

received

are

accrued

daily

and

recorded

as

unrealized

depreciation

and

appreciation

until

the

payments

are

made,

at

which

time

they

are

realized.

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,

2022,

the

Fund

had

1.8%

of

its

net

assets

denominated

in

Argentine

Pesos.

Argentina

has

restricted

currency

repatriation

since

September

2019,

and

had

restructured

certain

issues

of

its

debt.

Political

and

economic

conditions

in

Argentina

could

continue

to

affect

the

value

of

the

Fund's

holdings. 

5.

Novel

Coronavirus

Pandemic 

The

global

outbreak

of

the

novel

coronavirus

disease,

known

as

COVID-19, has

caused

adverse

effects

on

many

companies,

sectors,

nations,

regions

and

the

markets

in

general, and

may

continue for

an unpredictable duration.

The

effects

of

this

pandemic

may

materially

impact

the

value

and

performance

of

the Fund, its ability

to

buy

and

sell

fund

investments

at

appropriate

valuations

and its ability

to

achieve its investment

objectives.

3.

Derivative

Financial

Instruments

(continued)

Templeton

Global

Investment

Trust

Notes

to

Schedule

of

Investments

(unaudited)

15

Quarterly

Schedule

of

Investments

Templeton

Global

Balanced

Fund

(continued)

6. Restricted

Securities 

At

March

31,

2022,

investments

in

restricted

securities,

excluding

securities

exempt

from

registration

under

the

Securities

Act

of

1933,

were

as

follows:

7.

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

March

31,

2022,

the

Fund

held

investments

in

affiliated

management

investment

companies

as

follows: 

8. 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.)

Shares

Issuer

Acquisition

Date

Cost

Value

Templeton

Global

Balanced

Fund

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

—%

of

Net

Assets)

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

$84,475

$—

a

The

Fund

also

invests

in

unrestricted

securities

of

the

issuer,

valued

at

$0

as

of

March

31,

2022.

    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%

.

$

73,639,085

$

76,064,994

$

(52,454,581)

$

—

$

—

$

97,249,498

97,249,498

$

1,610

Non-Controlled

Affiliates

Income

from

securities

loaned

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

0.01%

.

$—

$1,130,000

$(1,130,000)

$—

$—

$—

—

$2

Total

Affiliated

Securities

...

$73,639,085

$77,194,994

$(53,584,581)

$—

$—

$97,249,498

$1,612

Templeton

Global

Investment

Trust

Notes

to

Schedule

of

Investments

(unaudited)

16

Quarterly

Schedule

of

Investments

Templeton

Global

Balanced

Fund

(continued)

•

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

March

31,

2022,

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

:

China

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

$

2,737,333

$

5,715,280

$

—

$

8,452,613

France

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

—

4,149,043

—

4,149,043

Germany

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

—

5,346,343

—

5,346,343

Hong

Kong

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

—

6,910,484

—

6,910,484

India

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

—

5,902,437

—

5,902,437

Ireland

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

2,604,888

—

—

2,604,888

Japan

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

—

16,724,206

—

16,724,206

Netherlands

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

—

7,983,029

—

7,983,029

South

Africa

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

—

—

—

a

—

South

Korea

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

—

6,754,340

—

6,754,340

Spain

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

—

2,174,955

—

2,174,955

Switzerland

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

—

4,210,868

—

4,210,868

Taiwan

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

—

9,099,837

—

9,099,837

United

Kingdom

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

893,592

29,848,153

—

30,741,745

United

States

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

144,943,204

—

—

144,943,204

Corporate

Bonds

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

—

—

—

a

—

Foreign

Government

and

Agency

Securities

....

—

126,346,558

—

126,346,558

Escrows

and

Litigation

Trusts

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

—

—

—

a

—

Options

purchased

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

—

103,996

—

103,996

Short

Term

Investments

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

97,249,498

33,344,651

—

130,594,149

Total

Investments

in

Securities

...........

$248,428,515

$264,614,180

b

$—

$513,042,695

Other

Financial

Instruments:

Forward

exchange

contracts

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

$

—

$

3,864,324

$

—

$

3,864,324

Restricted

Currency

(ARS)

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

—

53,360

—

53,360

Swap

contracts

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

—

107,802

—

107,802

Total

Other

Financial

Instruments

.........

$—

$4,025,486

$—

$4,025,486

Receivables:

Interest

(ARS)

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

$—

$211,850

$—

$211,850

Liabilities:

Other

Financial

Instruments:

Options

written

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

$

—

$

35,158

$

—

$

35,158

Forward

exchange

contracts

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

$

—

$

6,441,572

$

—

$

6,441,572

Swap

contracts

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

—

22,775

—

22,775

Total

Other

Financial

Instruments

.........

$—

$6,499,505

$—

$6,499,505

Payables:

Deferred

Tax

(ARS)

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

$—

$394

$—

$394

a

Includes

securities

determined

to

have

no

value

at

March

31,

2022.

b

Includes

foreign

securities

valued

at

$104,818,975,

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.

8. Fair

Value

Measurements 

(continued)

Templeton

Global

Investment

Trust

Notes

to

Schedule

of

Investments

(unaudited)

17

Quarterly

Schedule

of

Investments

Templeton

Global

Balanced

Fund

(continued)

9.

Subsequent

Events

The Fund

has

evaluated

subsequent

events

through

the

issuance

of

the

Schedule

of

Investments

and

determined

that

no

events

have

occurred

that

require

disclosure.

Abbreviations

Counterparty

BOFA

Bank

of

America

Corp.

CITI

Citibank

NA

DBAB

Deutsche

Bank

AG

GSCO

Goldman

Sachs

Group,

Inc.

HSBK

HSBC

Bank

plc

JPHQ

JPMorgan

Chase

Bank

NA

MSCO

Morgan

Stanley

Selected

Portfolio

ADR

American

Depositary

Receipt

CER

Reference

Stabilization

Coefficient

PIK

Payment-In-Kind

SOFR

Secured

Overnight

Financing

Rate

Currency

ARS

Argentine

Peso

BRL

Brazilian

Real

COP

Colombian

Peso

EUR

Euro

GBP

British

Pound

GHS

Ghanaian

Cedi

HKD

Hong

Kong

Dollar

IDR

Indonesian

Rupiah

INR

Indian

Rupee

JPY

Japanese

Yen

KRW

South

Korean

Won

MXN

Mexican

Peso

NOK

Norwegian

Krone

SEK

Swedish

Krona

SGD

Singapore

Dollar

THB

Thai

Baht

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.