Templeton Global Investment Trust NPORT-P Franklin Templeton SMACS Series EM (Nov 2023 report)

Not

FDIC

Insured

May

Lose

Value

No

Bank

Guarantee

TGIT-Q1PH

1

Schedules

of

Investments

(unaudited)

Franklin

Templeton

SMACS:

Series

EM

2

Templeton

Emerging

Markets

Small

Cap

Fund

5

Notes

to

Schedules

of

Investments

9

Templeton

Global

Investment

Trust

Schedule

of

Investments

(unaudited),

November

30,

2023

Franklin

Templeton

SMACS:

Series

EM

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

2

a

a

Industry

Shares

a

Value

a

Common

Stocks

96.5%

Brazil

1.4%

a

Hypera

SA

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

Pharmaceuticals

1,014

$

6,962

TOTVS

SA

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

Software

980

6,635

13,597

Cambodia

0.4%

a

NagaCorp

Ltd.

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

Hotels,

Restaurants

&

Leisure

8,440

4,072

China

12.8%

Beijing

Oriental

Yuhong

Waterproof

Technology

Co.

Ltd.

,

A

...........

Construction

Materials

1,701

5,135

Brilliance

China

Automotive

Holdings

Ltd.

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

Automobiles

31,802

17,071

Chervon

Holdings

Ltd.

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

Household

Durables

902

2,021

China

Merchants

Bank

Co.

Ltd.

,

H

....

Banks

6,931

24,191

China

Resources

Cement

Holdings

Ltd.

Construction

Materials

21,612

4,977

China

Resources

Land

Ltd.

.........

Real

Estate

Management

&

Development

985

3,607

COSCO

SHIPPING

Ports

Ltd.

.......

Transportation

Infrastructure

8,558

5,748

b

Greentown

Service

Group

Co.

Ltd.

,

Reg

S

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

Real

Estate

Management

&

Development

5,063

2,101

Guangzhou

Tinci

Materials

Technology

Co.

Ltd.

,

A

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

Chemicals

5,975

20,256

Haier

Smart

Home

Co.

Ltd.

,

D

.......

Household

Durables

6,074

7,515

Health

&

Happiness

H&H

International

Holdings

Ltd.

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

Food

Products

4,833

6,742

Ping

An

Bank

Co.

Ltd.

,

A

...........

Banks

5,063

6,868

Uni-President

China

Holdings

Ltd.

....

Food

Products

17,482

11,182

117,414

Hungary

2.3%

Richter

Gedeon

Nyrt.

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

Pharmaceuticals

829

20,891

India

11.3%

ACC

Ltd.

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

Construction

Materials

427

9,615

Bajaj

Holdings

&

Investment

Ltd.

.....

Financial

Services

150

13,239

Federal

Bank

Ltd.

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

Banks

7,232

12,793

HDFC

Bank

Ltd.

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

Banks

1,709

32,043

Hindalco

Industries

Ltd.

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

Metals

&

Mining

899

5,576

a

One

97

Communications

Ltd.

.......

Financial

Services

1,441

15,172

a

PB

Fintech

Ltd.

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

Insurance

493

4,933

a

Zomato

Ltd.

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

Hotels,

Restaurants

&

Leisure

6,985

9,952

103,323

Indonesia

1.4%

Astra

International

Tbk.

PT

.........

Industrial

Conglomerates

35,534

12,381

Italy

0.9%

a,b

Wizz

Air

Holdings

plc

,

144A

,

Reg

S

...

Passenger

Airlines

357

8,499

Mexico

0.4%

a,b

Nemak

SAB

de

CV

,

144A

,

Reg

S

....

Automobile

Components

15,599

3,414

Philippines

1.0%

BDO

Unibank,

Inc.

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

Banks

3,907

9,409

South

Africa

1.4%

Netcare

Ltd.

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

Health

Care

Providers

&

Services

17,201

12,610

South

Korea

39.2%

Doosan

Bobcat,

Inc.

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

Machinery

515

17,982

Fila

Holdings

Corp.

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

Textiles,

Apparel

&

Luxury

Goods

327

9,555

Templeton

Global

Investment

Trust

Schedule

of

Investments

(unaudited)

Franklin

Templeton

SMACS:

Series

EM

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

3

See

Abbreviations

on

page

12

.

a

a

Industry

Shares

a

Value

a

Common

Stocks

(continued)

South

Korea

(continued)

Hankook

Tire

&

Technology

Co.

Ltd.

..

Automobile

Components

103

$

3,577

a

LegoChem

Biosciences,

Inc.

........

Life

Sciences

Tools

&

Services

363

12,598

LG

Chem

Ltd.

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

Chemicals

11

4,222

LG

Corp.

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

Industrial

Conglomerates

729

46,846

NAVER

Corp.

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

Interactive

Media

&

Services

376

59,967

Samsung

Electronics

Co.

Ltd.

.......

Technology

Hardware,

Storage

&

Peripherals

1,817

101,656

Samsung

Life

Insurance

Co.

Ltd.

.....

Insurance

847

45,432

Samsung

SDI

Co.

Ltd.

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

Electronic

Equipment,

Instruments

&

Components

95

34,322

Soulbrain

Co.

Ltd.

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

Chemicals

99

21,070

357,227

Taiwan

19.4%

Hon

Hai

Precision

Industry

Co.

Ltd.

...

Electronic

Equipment,

Instruments

&

Components

6,503

21,026

MediaTek,

Inc.

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

Semiconductors

&

Semiconductor

Equipment

1,471

44,221

Taiwan

Semiconductor

Manufacturing

Co.

Ltd.

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

Semiconductors

&

Semiconductor

Equipment

5,503

100,203

Yageo

Corp.

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

Electronic

Equipment,

Instruments

&

Components

632

12,094

177,544

Thailand

3.8%

Kasikornbank

PCL

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

Banks

6,348

22,971

Star

Petroleum

Refining

PCL

........

Oil,

Gas

&

Consumable

Fuels

25,454

5,889

Thai

Beverage

PCL

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

Beverages

18,151

6,790

35,650

United

Arab

Emirates

0.8%

Emirates

Central

Cooling

Systems

Corp.

Water

Utilities

16,540

7,431

Total

Common

Stocks

(Cost

$

995,580

)

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

883,462

Short

Term

Investments

2.4%

a

a

Industry

Shares

a

Value

a

a

a

a

a

a

Money

Market

Funds

2.4%

United

States

2.4%

c,d

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio

,

5.036

%

.........

22,341

22,341

Total

Money

Market

Funds

(Cost

$

22,341

)

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

22,341

a

a

a

a

a

Total

Short

Term

Investments

(Cost

$

22,341

)

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

22,341

a

a

a

Total

Investments

(Cost

$

1,017,921

)

98

.9

%

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

$905,803

Other

Assets,

less

Liabilities

1

.1

%

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

9,518

Net

Assets

100.0%

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

$915,321

a

a

a

Templeton

Global

Investment

Trust

Schedule

of

Investments

(unaudited)

Franklin

Templeton

SMACS:

Series

EM

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

4

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,

2023,

the

aggregate

value

of

these

securities

was

$14,014,

representing

1.5%

of

net

assets.

c

See

Note

3

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

Schedule

of

Investments

(unaudited),

November

30,

2023

Templeton

Emerging

Markets

Small

Cap

Fund

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

5

a

a

Industry

Shares

a

Value

a

Common

Stocks

94.5%

Brazil

2.3%

Arezzo

Industria

e

Comercio

SA

.....

Textiles,

Apparel

&

Luxury

Goods

308,146

$

3,716,579

Dexco

SA

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

Paper

&

Forest

Products

1,175,178

1,734,122

Grendene

SA

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

Textiles,

Apparel

&

Luxury

Goods

532,559

713,333

a

Grupo

Mateus

SA

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

Consumer

Staples

Distribution

&

Retail

1,715,459

2,214,080

8,378,114

Cambodia

0.7%

a

NagaCorp

Ltd.

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

Hotels,

Restaurants

&

Leisure

5,243,898

2,529,893

Chile

0.6%

Aguas

Andinas

SA

,

A

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

Water

Utilities

6,931,382

2,122,053

China

6.5%

Asia

Cement

China

Holdings

Corp.

...

Construction

Materials

2,876,035

846,395

a,b

Baozun,

Inc.

,

ADR

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

Broadline

Retail

24,309

72,441

Chervon

Holdings

Ltd.

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

Household

Durables

930,600

2,084,971

c

China

Education

Group

Holdings

Ltd.

,

Reg

S

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

Diversified

Consumer

Services

3,097,332

1,881,292

a

Daqo

New

Energy

Corp.

,

ADR

......

Semiconductors

&

Semiconductor

Equipment

187,968

4,447,323

Health

&

Happiness

H&H

International

Holdings

Ltd.

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

Food

Products

2,707,771

3,777,494

Huaxin

Cement

Co.

Ltd.

,

H

.........

Construction

Materials

1,117,830

1,004,868

c

JNBY

Design

Ltd.

,

Reg

S

..........

Textiles,

Apparel

&

Luxury

Goods

2,171,131

2,657,714

Longshine

Technology

Group

Co.

Ltd.

,

A

Software

1,069,672

2,553,054

Noah

Holdings

Ltd.

,

ADR

..........

Capital

Markets

141,846

1,818,465

Uni-President

China

Holdings

Ltd.

....

Food

Products

3,645,351

2,331,706

23,475,723

Georgia

0.8%

a

Georgia

Capital

plc

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

Capital

Markets

224,199

2,830,288

Hong

Kong

2.1%

Luk

Fook

Holdings

International

Ltd.

..

Specialty

Retail

739,740

2,063,889

Pacific

Basin

Shipping

Ltd.

.........

Marine

Transportation

17,605,141

5,342,193

7,406,082

Hungary

2.3%

Richter

Gedeon

Nyrt.

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

Pharmaceuticals

333,773

8,410,992

India

29.6%

a

Affle

India

Ltd.

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

Media

438,477

5,875,102

Ajanta

Pharma

Ltd.

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

Pharmaceuticals

193,104

4,576,502

Bajaj

Holdings

&

Investment

Ltd.

.....

Financial

Services

227,808

20,106,302

City

Union

Bank

Ltd.

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

Banks

2,587,005

4,547,840

Coforge

Ltd.

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

IT

Services

72,478

5,018,793

Crompton

Greaves

Consumer

Electricals

Ltd.

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

Household

Durables

209,423

716,273

Dalmia

Bharat

Ltd.

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

Construction

Materials

306,292

8,143,845

EPL

Ltd.

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

Containers

&

Packaging

1,063,923

2,500,224

Federal

Bank

Ltd.

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

Banks

7,191,051

12,720,144

a

Honasa

Consumer

Ltd.

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

Personal

Care

Products

295,412

1,477,184

a

MakeMyTrip

Ltd.

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

Hotels,

Restaurants

&

Leisure

172,026

7,264,658

a

Max

Financial

Services

Ltd.

.........

Insurance

484,286

5,923,115

a

One

97

Communications

Ltd.

.......

Financial

Services

333,047

3,506,646

a

PB

Fintech

Ltd.

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

Insurance

633,468

6,338,506

Redington

Ltd.

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

Electronic

Equipment,

Instruments

&

Components

2,417,855

4,667,254

a

Restaurant

Brands

Asia

Ltd.

........

Hotels,

Restaurants

&

Leisure

2,002,427

2,794,759

Tata

Consumer

Products

Ltd.

.......

Food

Products

185,909

2,099,518

Templeton

Global

Investment

Trust

Schedule

of

Investments

(unaudited)

Templeton

Emerging

Markets

Small

Cap

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

6

a

a

Industry

Shares

a

Value

a

Common

Stocks

(continued)

India

(continued)

a

Zomato

Ltd.

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

Hotels,

Restaurants

&

Leisure

5,716,680

$

8,144,958

106,421,623

Indonesia

0.8%

a

GoTo

Gojek

Tokopedia

Tbk.

PT

,

A

....

Broadline

Retail

464,491,100

2,908,945

Italy

2.1%

a,c

Wizz

Air

Holdings

plc

,

144A

,

Reg

S

...

Passenger

Airlines

311,622

7,418,823

Kazakhstan

0.9%

c

Halyk

Savings

Bank

of

Kazakhstan

JSC

,

GDR

,

Reg

S

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

Banks

213,908

3,101,666

Mexico

1.9%

Bolsa

Mexicana

de

Valores

SAB

de

CV

Capital

Markets

3,323,463

6,329,968

Grupo

Aeroportuario

del

Centro

Norte

SAB

de

CV

,

B

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

Transportation

Infrastructure

51,274

465,699

6,795,667

Peru

1.3%

Intercorp

Financial

Services,

Inc.

.....

Banks

240,936

4,611,515

Philippines

4.6%

a

Bloomberry

Resorts

Corp.

..........

Hotels,

Restaurants

&

Leisure

19,513,000

3,394,636

Century

Pacific

Food,

Inc.

..........

Food

Products

7,938,442

4,350,615

International

Container

Terminal

Services,

Inc.

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

Transportation

Infrastructure

2,259,817

8,798,072

16,543,323

Saudi

Arabia

2.0%

a

Jahez

International

Co.

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

Hotels,

Restaurants

&

Leisure

232,700

1,736,798

Mouwasat

Medical

Services

Co.

.....

Health

Care

Providers

&

Services

180,811

5,426,981

7,163,779

South

Africa

1.1%

Netcare

Ltd.

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

Health

Care

Providers

&

Services

5,456,459

4,000,152

South

Korea

10.1%

Fila

Holdings

Corp.

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

Textiles,

Apparel

&

Luxury

Goods

252,050

7,365,127

Hankook

Tire

&

Technology

Co.

Ltd.

..

Automobile

Components

62,796

2,180,745

a

Hugel,

Inc.

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

Biotechnology

56,208

6,590,343

L&F

Co.

Ltd.

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

Electronic

Equipment,

Instruments

&

Components

8,071

1,089,322

LEENO

Industrial,

Inc.

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

Semiconductors

&

Semiconductor

Equipment

39,644

6,083,447

Lock&Lock

Co.

Ltd.

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

Household

Durables

309,471

1,508,555

LX

Semicon

Co.

Ltd.

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

Semiconductors

&

Semiconductor

Equipment

52,410

3,468,563

Shin

Heung

Energy

&

Electronics

Co.

Ltd.

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

Electrical

Equipment

43,843

1,448,162

Soulbrain

Co.

Ltd.

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

Chemicals

21,877

4,656,077

Vieworks

Co.

Ltd.

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

Health

Care

Equipment

&

Supplies

96,673

1,971,334

36,361,675

Taiwan

15.9%

Eclat

Textile

Co.

Ltd.

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

Textiles,

Apparel

&

Luxury

Goods

200,590

3,796,683

Kinsus

Interconnect

Technology

Corp.

.

Semiconductors

&

Semiconductor

Equipment

1,461,795

4,609,437

Merida

Industry

Co.

Ltd.

...........

Leisure

Products

857,217

5,116,527

momo.com,

Inc.

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

Broadline

Retail

277,264

4,573,325

Novatek

Microelectronics

Corp.

......

Semiconductors

&

Semiconductor

Equipment

689,000

11,203,165

Poya

International

Co.

Ltd.

.........

Broadline

Retail

437,868

7,124,320

Primax

Electronics

Ltd.

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

Electronic

Equipment,

Instruments

&

Components

1,582,444

3,250,624

Templeton

Global

Investment

Trust

Schedule

of

Investments

(unaudited)

Templeton

Emerging

Markets

Small

Cap

Fund

(continued)

See

Notes

to

Schedules

of

Investments.

Quarterly

Schedule

of

Investments

7

a

a

Industry

Shares

a

Value

a

Common

Stocks

(continued)

Taiwan

(continued)

Shin

Zu

Shing

Co.

Ltd.

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

Machinery

852,223

$

3,338,527

Synnex

Technology

International

Corp.

Electronic

Equipment,

Instruments

&

Components

4,577,676

10,026,587

Visual

Photonics

Epitaxy

Co.

Ltd.

....

Semiconductors

&

Semiconductor

Equipment

713,143

3,902,550

56,941,745

Thailand

2.5%

Dynasty

Ceramic

PCL

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

Building

Products

25,815,997

1,145,918

Major

Cineplex

Group

PCL

.........

Entertainment

5,595,578

2,405,391

Tisco

Financial

Group

PCL

.........

Banks

2,016,322

5,544,520

9,095,829

United

Arab

Emirates

0.7%

Americana

Restaurants

International

plc

Hotels,

Restaurants

&

Leisure

1,183,090

1,071,962

Emirates

Central

Cooling

Systems

Corp.

Water

Utilities

2,908,284

1,306,649

2,378,611

Vietnam

5.7%

FPT

Corp.

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

IT

Services

3,111,992

11,789,653

a

Hoa

Phat

Group

JSC

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

Metals

&

Mining

346,093

379,050

Military

Commercial

Joint

Stock

Bank

.

Banks

1,510,800

1,108,481

Mobile

World

Investment

Corp.

......

Specialty

Retail

3,507,057

5,566,481

a

Vincom

Retail

JSC

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

Real

Estate

Management

&

Development

1,675,082

1,526,183

20,369,848

Total

Common

Stocks

(Cost

$

288,980,197

)

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

339,266,346

a

Preferred

Stocks

3.2%

Brazil

1.9%

d

Bradespar

SA

,

7.54

%

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

Metals

&

Mining

1,390,881

6,897,935

Chile

1.3%

d

Embotelladora

Andina

SA

,

A

,

8.06

%

..

Beverages

1,146,416

2,235,127

d

Embotelladora

Andina

SA

,

B

,

7.18

%

..

Beverages

963,231

2,319,309

4,554,436

Total

Preferred

Stocks

(Cost

$

14,555,731

)

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

11,452,371

Total

Long

Term

Investments

(Cost

$

303,535,928

)

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

350,718,717

Short

Term

Investments

3.1%

a

a

Industry

Shares

a

Value

a

a

a

a

a

a

Money

Market

Funds

3.1%

United

States

3.1%

e,f

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio

,

5.036

%

.........

11,184,813

11,184,813

Total

Money

Market

Funds

(Cost

$

11,184,813

)

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

11,184,813

Templeton

Global

Investment

Trust

Schedule

of

Investments

(unaudited)

Templeton

Emerging

Markets

Small

Cap

Fund

(continued)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedules

of

Investments.

8

See

Abbreviations

on

page

12

.

Short

Term

Investments

(continued)

a

a

Industry

Shares

a

Value

a

a

a

a

a

a

Investments

from

Cash

Collateral

Received

for

Loaned

Securities

0.0%

†

Money

Market

Funds

0.0%

†

e,f

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio

,

5.036

%

.........

2,400

$

2,400

Total

Investments

from

Cash

Collateral

Received

for

Loaned

Securities

(Cost

$

2,400

)

2,400

a

a

a

a

a

Total

Short

Term

Investments

(Cost

$

11,187,213

)

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

11,187,213

a

a

a

Total

Investments

(Cost

$

314,723,141

)

100

.8

%

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

$361,905,930

Other

Assets,

less

Liabilities

(

0

.8

)

%

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

(3,081,462)

Net

Assets

100.0%

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

$358,824,468

a

a

a

†

Rounds

to

less

than

0.1%

of

net

assets.

a

Non-income

producing.

b

A

portion

or

all

of

the

security

is

on

loan

at

November

30,

2023.

c

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,

2023,

the

aggregate

value

of

these

securities

was

$15,059,495,

representing

4.2%

of

net

assets.

d

Variable

rate

security.

The

rate

shown

represents

the

yield

at

period

end.

e

See

Note

3

regarding

investments

in

affiliated

management

investment

companies.

f

The

rate

shown

is

the

annualized

seven-day

effective

yield

at

period

end.

Templeton

Global

Investment

Trust

9

Quarterly

Schedules

of

Investments

Notes

to

Schedules

of

Investments

(unaudited)

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, two

of

which

are

included

in

this

report

(Funds).

The

Funds follow

the

accounting

and

reporting

guidance

in

Financial

Accounting

Standards

Board

(FASB)

Accounting

Standards

Codification

Topic

946,

Financial

Services

–

Investment

Companies

(ASC

946)

and apply

the

specialized

accounting

and

reporting

guidance

in

U.S.

Generally

Accepted

Accounting

Principles

(U.S.

GAAP),

including,

but

not

limited

to,

ASC

946.

2. Financial

Instrument

Valuation

The

Funds’

investments

in

financial

instruments

are

carried

at

fair

value

daily.

Fair

value

is

the

price

that

would

be

received

to

sell

an

asset

or

paid

to

transfer

a

liability

in

an

orderly

transaction

between

market

participants

on

the

measurement

date.

The

Funds

calculate

the

net

asset

value

(NAV)

per

share

each

business

day

as

of

4

p.m.

Eastern

time

or

the

regularly

scheduled

close

of

the

New

York

Stock

Exchange

(NYSE),

whichever

is

earlier.

Under

compliance

policies

and

procedures

approved

by

the

Trust’s

Board

of

Trustees

(the

Board),

the

Board

has

designated

the

Funds'

investment

manager

as

the

valuation

designee

and

has

responsibility

for

oversight

of

valuation.

The

investment

manager

is

assisted

by

the

Funds'

administrator

in

performing

this

responsibility,

including

leading

the

cross-functional

Valuation

Committee

(VC).

The

Funds

may

utilize

independent

pricing

services,

quotations

from

securities

and

financial

instrument

dealers,

and

other

market

sources

to

determine

fair

value. 

Equity

securities

listed

on

an

exchange

or

on

the

NASDAQ

National

Market

System

are

valued

at

the

last

quoted

sale

price

or

the

official

closing

price

of

the

day,

respectively.

Foreign

equity

securities

are

valued

as

of

the

close

of

trading

on

the

foreign

stock

exchange

on

which

the

security

is

primarily

traded

or

as

of

4

p.m.

Eastern

time.

The

value

is

then

converted

into

its

U.S.

dollar

equivalent

at

the

foreign

exchange

rate

in

effect

at

4

p.m. Eastern

time

on

the

day

that

the

value

of

the

security

is

determined.

Over-the-counter

(OTC)

securities

are

valued

within

the

range

of

the

most

recent

quoted

bid

and

ask

prices.

Securities

that

trade

in

multiple

markets

or

on

multiple

exchanges

are

valued

according

to

the

broadest

and

most

representative

market.

Certain

equity

securities

are

valued

based

upon

fundamental

characteristics

or

relationships

to

similar

securities.

Investments

in

open-end

mutual

funds

are

valued

at

the

closing

NAV.

The

Funds

have procedures

to

determine

the

fair

value

of

financial

instruments

for

which

market

prices

are

not

reliable

or

readily

available.

Under

these

procedures,

the

Funds

primarily employ

a

market-based

approach

which

may

use

related

or

comparable

assets

or

liabilities,

recent

transactions,

market

multiples,

and

other

relevant

information

for

the

investment

to

determine

the

fair

value

of

the

investment.

An

income-based

valuation

approach

may

also

be

used

in

which

the

anticipated

future

cash

flows

of

the

investment

are

discounted

to

calculate

fair

value.

Discounts

may

also

be

applied

due

to

the

nature

or

duration

of

any

restrictions

on

the

disposition

of

the

investments.

Due

to

the

inherent

uncertainty

of

valuations

of

such

investments,

the

fair

values

may

differ

significantly

from

the

values

that

would

have

been

used

had

an

active

market

existed. 

Trading

in

securities

on

foreign

securities

stock

exchanges

and

OTC

markets

may

be

completed

before

4

p.m.

Eastern

time.

In

addition,

trading

in

certain

foreign

markets

may

not

take

place

on

every

Funds’ business

day.

Events

can

occur

between

the

time

at

which

trading

in

a

foreign

security

is

completed

and

4

p.m.

Eastern

time

that

might

call

into

question

the

reliability

of

the

value

of

a

portfolio

security

held

by

the

Fund.

As

a

result,

differences

may

arise

between

the

value

of

the

Funds’

portfolio

securities

as

determined

at

the

foreign

market

close

and

the

latest

indications

of

value

at

4

p.m.

Eastern

time.

In

order

to

minimize

the

potential

for

these

differences,

an

independent

pricing

service

may

be

used

to

adjust

the

value

of

the

Funds'

portfolio

securities

to

the

latest

indications

of

fair

value

at 4

p.m.

Eastern

time.

At

November

30,

2023,

certain

securities

may

have

been

fair

valued

using

these

procedures,

in

which

case

the

securities

were

categorized

as

Level

2

within

the

fair

value

hierarchy

(referred

to

as

"market

level

fair

value").

See

the

Fair

Value

Measurements

note

for

more

information.

Templeton

Global

Investment

Trust

Notes

to

Schedules

of

Investments

(unaudited)

10

Quarterly

Schedules

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

Funds’

NAV

is

not

calculated,

which

could

result

in

differences

between

the

value

of

the

Funds’

portfolio securities

on

the

last

business

day

and

the

last

calendar

day

of

the

reporting

period.

Any

security

valuation

changes

due

to

an

open

foreign

market

are

adjusted

and

reflected

by

the

Funds for

financial

reporting

purposes.

3.

Investments

in

Affiliated

Management

Investment

Companies 

Certain

or

all

Funds

invest

in

one

or

more

affiliated

management

investment

companies.

As

defined

in

the

1940

Act,

an

investment

is

deemed

to

be

a

“Controlled

Affiliate”

of

a

fund

when

a

fund

owns,

either

directly

or

indirectly,

25%

or

more

of

the

affiliated

fund’s

outstanding

shares

or

has

the

power

to

exercise

control

over

management

or

policies

of

such

fund.

The

Funds

do

not

invest

for

purposes

of

exercising

a

controlling

influence

over

the

management

or

policies.

During

the

period

ended

November

30,

2023,

investments

in

affiliated

management

investment

companies

were

as

follows: 

4. Fair

Value

Measurements 

The

Funds

follow

a

fair

value

hierarchy

that

distinguishes

between

market

data

obtained

from

independent

sources

(observable

inputs)

and

the

Funds'

own

market

assumptions

(unobservable

inputs).

These

inputs

are

used

in

determining

the

value

of

the

Funds’

financial

instruments

and

are

summarized

in

the

following

fair

value

hierarchy:

Level

1

–

quoted

prices

in

active

markets

for

identical

financial

instruments

Level

2

–

other

significant

observable

inputs

(including

quoted

prices

for

similar

financial

instruments,

interest

rates,

prepayment

speed,

credit

risk,

etc.)

    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,

5.036%

$33,791

$71,587

$(83,037)

$—

$—

$22,341

22,341

$344

Total

Affiliated

Securities

...

$33,791

$71,587

$(83,037)

$—

$—

$22,341

$344

Templeton

Emerging

Markets

Small

Cap

Fund

Non-Controlled

Affiliates

Dividends

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

5.036%

$13,955,515

$20,762,825

$(23,533,527)

$—

$—

$11,184,813

11,184,813

$124,395

Non-Controlled

Affiliates

Income

from

securities

loaned

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

5.036%

$—

$481,742

$(479,342)

$—

$—

$2,400

2,400

$212

Total

Affiliated

Securities

...

$13,955,515

$21,244,567

$(24,012,869)

$—

$—

$11,187,213

$124,607

2. Financial

Instrument

Valuation

(continued)

Templeton

Global

Investment

Trust

Notes

to

Schedules

of

Investments

(unaudited)

11

Quarterly

Schedules

of

Investments

Level

3

–

significant

unobservable

inputs

(including

the

Funds'

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,

2023,

in

valuing

the

Funds’

assets

carried

at

fair

value,

is

as

follows:  

Level

1

Level

2

Level

3

Total

Franklin

Templeton

SMACS:

Series

EM

Assets:

Investments

in

Securities:

Common

Stocks

:

Brazil

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

$

13,597

$

—

$

—

$

13,597

Cambodia

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

—

4,072

—

4,072

China

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

9,536

107,878

—

117,414

Hungary

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

20,891

—

—

20,891

India

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

—

103,323

—

103,323

Indonesia

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

—

12,381

—

12,381

Italy

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

—

8,499

—

8,499

Mexico

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

3,414

—

—

3,414

Philippines

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

—

9,409

—

9,409

South

Africa

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

12,610

—

—

12,610

South

Korea

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

—

357,227

—

357,227

Taiwan

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

—

177,544

—

177,544

Thailand

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

—

35,650

—

35,650

United

Arab

Emirates

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

7,431

—

—

7,431

Short

Term

Investments

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

22,341

—

—

22,341

Total

Investments

in

Securities

...........

$89,820

$815,983

a

$—

$905,803

Templeton

Emerging

Markets

Small

Cap

Fund

Assets:

Investments

in

Securities:

Common

Stocks

:

Brazil

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

8,378,114

—

—

8,378,114

Cambodia

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

—

2,529,893

—

2,529,893

Chile

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

2,122,053

—

—

2,122,053

China

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

8,423,200

15,052,523

—

23,475,723

Georgia

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

2,830,288

—

—

2,830,288

Hong

Kong

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

—

7,406,082

—

7,406,082

Hungary

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

8,410,992

—

—

8,410,992

India

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

11,841,160

94,580,463

—

106,421,623

Indonesia

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

—

2,908,945

—

2,908,945

Italy

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

—

7,418,823

—

7,418,823

Kazakhstan

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

3,101,666

—

—

3,101,666

Mexico

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

6,795,667

—

—

6,795,667

Peru

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

4,611,515

—

—

4,611,515

Philippines

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

7,745,251

8,798,072

—

16,543,323

Saudi

Arabia

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

7,163,779

—

—

7,163,779

South

Africa

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

4,000,152

—

—

4,000,152

South

Korea

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

—

36,361,675

—

36,361,675

Taiwan

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

—

56,941,745

—

56,941,745

Thailand

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

1,145,918

7,949,911

—

9,095,829

United

Arab

Emirates

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

1,306,649

1,071,962

—

2,378,611

Vietnam

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

—

20,369,848

—

20,369,848

Preferred

Stocks

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

11,452,371

—

—

11,452,371

Short

Term

Investments

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

11,187,213

—

—

11,187,213

Total

Investments

in

Securities

...........

$100,515,988

$261,389,942

b

$—

$361,905,930

4. Fair

Value

Measurements 

(continued)

Templeton

Global

Investment

Trust

Notes

to

Schedules

of

Investments

(unaudited)

12

Quarterly

Schedules

of

Investments

Abbreviations

a

Includes

foreign

securities

valued

at

$815,983,

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.

b

Includes

foreign

securities

valued

at

$259,912,758,

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.

Selected

Portfolio

ADR

American

Depositary

Receipt

GDR

Global

Depositary

Receipt

4. Fair

Value

Measurements 

(continued)

For

additional

information

on

the

Funds'

significant

accounting

policies,

please

refer

to

the Funds'

most

recent

semiannual

or

annual

shareholder

report.