NPORT-EX 2 FLDIT.htm

Not

FDIC

Insured

May

Lose

Value

No

Bank

Guarantee

FTF-Q1PH

1

Schedule

of

Investments

(unaudited)

Franklin

Limited

Duration

Income

Trust

2

Notes

to

Schedule

of

Investments

112

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited),

March

31,

2022

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

2

a

a

Country

Shares

a

Value

a

a

a

a

a

a

Common

Stocks

0.3%

Hotels,

Restaurants

&

Leisure

0.0%

†

a

24

Hour

Fitness

Worldwide,

Inc.

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

United

States

24,950

$

19,773

Machinery

0.1%

a

Birch

Permian

Holdings,

Inc.

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

United

States

2,309

47,335

a

Birch

Permian

Holdings,

Inc.

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

United

States

17,998

366,709

414,044

Metals

&

Mining

0.2%

a

Petra

Diamonds

Ltd.,

DI

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

South

Africa

331,401

505,038

Oil,

Gas

&

Consumable

Fuels

0.0%

†

a

Amplify

Energy

Corp.

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

United

States

281

1,545

California

Resources

Corp.

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

United

States

42

1,879

a,b,c

Nine

Point

Energy

Holdings,

Inc.

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

United

States

2,334,763

—

a,b,c

Riviera

Resources,

Inc.

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

United

States

6,305

—

3,424

Road

&

Rail

0.0%

†

a,b

Onsite

Rental

Group

Operations

Pty.

Ltd.

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

Australia

522,133

39,647

Total

Common

Stocks

(Cost

$2,237,297)

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

981,926

Preferred

Stocks

0.0%

†

Hotels,

Restaurants

&

Leisure

0.0%

†

a

24

Hour

Fitness

Worldwide,

Inc.

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

United

States

59,089

147,722

a

Total

Preferred

Stocks

(Cost

$79,741)

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

147,722

Warrants

Warrants

0.0%

†

Oil,

Gas

&

Consumable

Fuels

0.0%

†

a,b

Battalion

Oil

Corp.,

A,

10/08/22

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

United

States

752

348

a,b

Battalion

Oil

Corp.,

B,

10/08/22

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

United

States

940

227

a,b

Battalion

Oil

Corp.,

C,

10/08/22

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

United

States

1,209

118

a

California

Resources

Corp.,

10/27/24

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

United

States

96

1,381

2,074

Paper

&

Forest

Products

0.0%

†

a

Verso

Corp.,

7/25/23

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

United

States

438

5,116

Total

Warrants

(Cost

$—)

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

7,190

Principal

Amount

*

Convertible

Bonds

0.0%

†

Wireless

Telecommunication

Services

0.0%

†

d,e,f

Digicel

Group

Holdings

Ltd.

,

Sub.

Bond

,

144A,

PIK,

7

%

,

Perpetual

Bermuda

33,729

25,865

Total

Convertible

Bonds

(Cost

$8,332)

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

25,865

Corporate

Bonds

45.3%

Aerospace

&

Defense

0.4%

f,g

TransDigm,

Inc.

,

Senior

Secured

Note

,

144A,

6.25

%

,

3/15/26

....

United

States

1,400,000

1,439,018

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

3

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Corporate

Bonds

(continued)

Airlines

0.8%

f,g

American

Airlines

Inc/AAdvantage

Loyalty

IP

Ltd.

,

Senior

Secured

Note

,

144A,

5.5

%

,

4/20/26

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

United

States

1,000,000

$

1,008,905

f,g

Mileage

Plus

Holdings

LLC

/

Mileage

Plus

Intellectual

Property

Assets

Ltd.

,

Senior

Secured

Note

,

144A,

6.5

%

,

6/20/27

.......

United

States

1,200,000

1,252,500

f

United

Airlines,

Inc.

,

Senior

Secured

Note,

144A,

4.375%,

4/15/26

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

United

States

100,000

98,500

Senior

Secured

Note,

144A,

4.625%,

4/15/29

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

United

States

300,000

285,668

2,645,573

Auto

Components

1.2%

h

Dana,

Inc.

,

Senior

Note

,

5.625

%

,

6/15/28

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

United

States

1,400,000

1,416,429

f

Dornoch

Debt

Merger

Sub,

Inc.

,

Senior

Note

,

144A,

6.625

%

,

10/15/29

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

United

States

800,000

696,576

g

Goodyear

Tire

&

Rubber

Co.

(The)

,

Senior

Note

,

9.5

%

,

5/31/25

...

United

States

1,000,000

1,060,300

f,g

Real

Hero

Merger

Sub

2,

Inc.

,

Senior

Note

,

144A,

6.25

%

,

2/01/29

.

United

States

1,000,000

913,110

4,086,415

Automobiles

0.3%

f,g

Jaguar

Land

Rover

Automotive

plc

,

Senior

Note

,

144A,

5.5

%

,

7/15/29

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

United

Kingdom

1,300,000

1,146,438

Banks

0.5%

e,g

JPMorgan

Chase

&

Co.

,

R

,

Junior

Sub.

Bond

,

6%

to

8/01/23,

FRN

thereafter

,

Perpetual

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

United

States

1,500,000

1,522,500

Beverages

0.2%

f,g

Primo

Water

Holdings,

Inc.

,

Senior

Note

,

144A,

4.375

%

,

4/30/29

..

Canada

700,000

634,476

Biotechnology

0.2%

f,g

Emergent

BioSolutions,

Inc.

,

Senior

Note

,

144A,

3.875

%

,

8/15/28

.

United

States

900,000

809,037

Building

Products

0.7%

f,g

Cornerstone

Building

Brands,

Inc.

,

Senior

Note

,

144A,

6.125

%

,

1/15/29

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

United

States

1,000,000

929,790

f

Eco

Material

Technologies,

Inc.

,

Senior

Secured

Note

,

144A,

7.875

%

,

1/31/27

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

United

States

500,000

498,005

f,g

Summit

Materials

LLC

/

Summit

Materials

Finance

Corp.

,

Senior

Note

,

144A,

5.25

%

,

1/15/29

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

United

States

800,000

790,856

2,218,651

Capital

Markets

0.1%

f

Jane

Street

Group

/

JSG

Finance,

Inc.

,

Senior

Secured

Note

,

144A,

4.5

%

,

11/15/29

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

United

States

300,000

284,641

Chemicals

2.4%

d,f

Anagram

International,

Inc.

/

Anagram

Holdings

LLC

,

Secured

Note

,

144A,

PIK,

10

%

,

8/15/26

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

United

States

143,053

147,943

f

ASP

Unifrax

Holdings,

Inc.

,

Senior

Note,

144A,

7.5%,

9/30/29

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

United

States

200,000

178,246

Senior

Secured

Note,

144A,

5.25%,

9/30/28

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

United

States

300,000

279,069

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

4

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Corporate

Bonds

(continued)

Chemicals

(continued)

f

Braskem

Idesa

SAPI

,

Senior

Secured

Bond

,

144A,

6.99

%

,

2/20/32

Mexico

300,000

$

294,384

f,g

Consolidated

Energy

Finance

SA

,

Senior

Note

,

144A,

5.625

%

,

10/15/28

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

Switzerland

600,000

556,185

f

CVR

Partners

LP

/

CVR

Nitrogen

Finance

Corp.

,

Senior

Secured

Note

,

144A,

6.125

%

,

6/15/28

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

United

States

300,000

300,405

f,g

Element

Solutions,

Inc.

,

Senior

Note

,

144A,

3.875

%

,

9/01/28

.....

United

States

700,000

654,899

f,h

GPD

Cos.,

Inc.

,

Senior

Secured

Note

,

144A,

10.125

%

,

4/01/26

...

United

States

1,500,000

1,561,703

f,g

Illuminate

Buyer

LLC

/

Illuminate

Holdings

IV,

Inc.

,

Senior

Note

,

144A,

9

%

,

7/01/28

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

United

States

1,000,000

1,013,750

f

Ingevity

Corp.

,

Senior

Note

,

144A,

3.875

%

,

11/01/28

...........

United

States

400,000

362,266

f

Kobe

US

Midco

2,

Inc.

,

Senior

Note

,

144A,

9.25

%

,

11/01/26

.....

United

States

200,000

195,051

f

LSF11

A5

HoldCo

LLC

,

Senior

Note

,

144A,

6.625

%

,

10/15/29

....

United

States

600,000

558,945

f

PMHC

II,

Inc.

,

Senior

Note

,

144A,

9

%

,

2/15/30

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

United

States

1,000,000

881,290

f,g

Rain

CII

Carbon

LLC

/

CII

Carbon

Corp.

,

Secured

Note

,

144A,

7.25

%

,

4/01/25

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

United

States

600,000

585,981

f,g

SCIH

Salt

Holdings,

Inc.

,

Senior

Secured

Note

,

144A,

4.875

%

,

5/01/28

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

United

States

300,000

283,165

7,853,282

Commercial

Services

&

Supplies

0.8%

f

APX

Group,

Inc.

,

Senior

Note

,

144A,

5.75

%

,

7/15/29

...........

United

States

800,000

731,500

f,g

Harsco

Corp.

,

Senior

Note

,

144A,

5.75

%

,

7/31/27

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

United

States

1,400,000

1,358,336

f,g

Prime

Security

Services

Borrower

LLC

/

Prime

Finance,

Inc.

,

Senior

Secured

Note

,

144A,

3.375

%

,

8/31/27

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

United

States

600,000

549,717

2,639,553

Construction

&

Engineering

0.7%

f

Arcosa,

Inc.

,

Senior

Note

,

144A,

4.375

%

,

4/15/29

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

United

States

300,000

285,007

f,g

Great

Lakes

Dredge

&

Dock

Corp.

,

Senior

Note

,

144A,

5.25

%

,

6/01/29

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

United

States

500,000

478,120

f,g

VM

Consolidated,

Inc.

,

Senior

Note

,

144A,

5.5

%

,

4/15/29

.......

United

States

800,000

752,468

f,g

Weekley

Homes

LLC

/

Weekley

Finance

Corp.

,

Senior

Note

,

144A,

4.875

%

,

9/15/28

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

United

States

800,000

738,760

2,254,355

Consumer

Finance

0.5%

f

PRA

Group,

Inc.

,

Senior

Note

,

144A,

5

%

,

10/01/29

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

United

States

300,000

284,884

f,g

PROG

Holdings,

Inc.

,

Senior

Note

,

144A,

6

%

,

11/15/29

.........

United

States

1,400,000

1,301,321

1,586,205

Containers

&

Packaging

2.7%

f,g

Ardagh

Metal

Packaging

Finance

USA

LLC

/

Ardagh

Metal

Packaging

Finance

plc

,

Senior

Note

,

144A,

4

%

,

9/01/29

.......

United

States

1,500,000

1,353,450

f

Ardagh

Packaging

Finance

plc

/

Ardagh

Holdings

USA,

Inc.

,

Senior

Note,

144A,

5.25%,

8/15/27

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

United

States

600,000

555,303

g

Senior

Secured

Note,

144A,

5.25%,

4/30/25

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

United

States

600,000

600,228

g

Crown

Americas

LLC

/

Crown

Americas

Capital

Corp.

VI

,

Senior

Note

,

4.75

%

,

2/01/26

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

United

States

500,000

506,055

f

Mauser

Packaging

Solutions

Holding

Co.

,

g

Senior

Note,

144A,

7.25%,

4/15/25

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

United

States

1,500,000

1,488,450

h

Senior

Secured

Note,

144A,

8.5%,

4/15/24

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

United

States

1,200,000

1,224,342

f

Owens-Brockway

Glass

Container,

Inc.

,

Senior

Note,

144A,

5.875%,

8/15/23

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

United

States

265,000

271,188

Senior

Note,

144A,

6.625%,

5/13/27

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

United

States

375,000

371,833

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

5

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Corporate

Bonds

(continued)

Containers

&

Packaging

(continued)

f

Pactiv

Evergreen

Group

Issuer

LLC

/

Pactiv

Evergreen

Group

Issuer,

Inc.

,

Senior

Secured

Note

,

144A,

4.375

%

,

10/15/28

..........

United

States

300,000

$

276,207

f,h

Pactiv

Evergreen

Group

Issuer,

Inc./Pactiv

Evergreen

Group

Issuer

LLC

,

Senior

Secured

Note

,

144A,

4

%

,

10/15/27

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

United

States

1,200,000

1,116,240

f,g

Sealed

Air

Corp.

,

Senior

Bond

,

144A,

5.5

%

,

9/15/25

...........

United

States

600,000

629,442

f,g

Trivium

Packaging

Finance

BV

,

Senior

Note

,

144A,

8.5

%

,

8/15/27

.

Netherlands

400,000

398,660

8,791,398

Distributors

0.1%

f

Ritchie

Bros

Holdings,

Inc.

,

Senior

Note

,

144A,

4.75

%

,

12/15/31

..

Canada

300,000

292,986

Diversified

Consumer

Services

0.4%

Grand

Canyon

University

,

5.125

%

,

10/01/28

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

United

States

1,300,000

1,273,610

Diversified

Financial

Services

0.8%

f,g

Jefferson

Capital

Holdings

LLC

,

Senior

Note

,

144A,

6

%

,

8/15/26

..

United

States

1,200,000

1,146,876

f,h

MPH

Acquisition

Holdings

LLC

,

Senior

Note

,

144A,

5.75

%

,

11/01/28

United

States

1,500,000

1,357,185

2,504,061

Diversified

Telecommunication

Services

1.3%

f

Altice

France

Holding

SA

,

Senior

Note,

144A,

6%,

2/15/28

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

Luxembourg

300,000

259,345

g

Senior

Secured

Note,

144A,

10.5%,

5/15/27

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

Luxembourg

1,700,000

1,781,090

f,g

DKT

Finance

ApS

,

Senior

Secured

Note

,

144A,

9.375

%

,

6/17/23

..

Denmark

1,500,000

1,500,815

f,g

Iliad

Holding

SASU

,

Senior

Secured

Note

,

144A,

6.5

%

,

10/15/26

..

France

800,000

803,208

4,344,458

Electric

Utilities

0.5%

f

Vistra

Operations

Co.

LLC

,

g

Senior

Note,

144A,

5.625%,

2/15/27

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

United

States

1,300,000

1,300,390

Senior

Note,

144A,

4.375%,

5/01/29

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

United

States

400,000

378,516

1,678,906

Electrical

Equipment

0.8%

f,g

Sensata

Technologies

BV

,

Senior

Note

,

144A,

4

%

,

4/15/29

......

United

States

1,500,000

1,430,565

f,g

Vertiv

Group

Corp.

,

Senior

Secured

Note

,

144A,

4.125

%

,

11/15/28

United

States

1,300,000

1,187,940

2,618,505

Electronic

Equipment,

Instruments

&

Components

0.1%

f

TTM

Technologies,

Inc.

,

Senior

Note

,

144A,

4

%

,

3/01/29

........

United

States

500,000

463,533

Energy

Equipment

&

Services

1.1%

f,g

CSI

Compressco

LP

/

CSI

Compressco

Finance,

Inc.

,

d

Secured

Note,

144A,

PIK,

10%,

4/01/26

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

United

States

1,058,831

1,022,477

Senior

Secured

Note,

144A,

7.5%,

4/01/25

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

United

States

325,000

321,298

f,g

Nabors

Industries

Ltd.

,

Senior

Note

,

144A,

7.25

%

,

1/15/26

......

United

States

1,000,000

1,001,670

f

Weatherford

International

Ltd.

,

Senior

Note,

144A,

11%,

12/01/24

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

United

States

111,000

115,030

g

Senior

Note,

144A,

8.625%,

4/30/30

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

United

States

700,000

711,561

Senior

Secured

Note,

144A,

6.5%,

9/15/28

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

United

States

400,000

414,000

3,586,036

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

6

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Corporate

Bonds

(continued)

Entertainment

0.9%

f,g

Banijay

Entertainment

SASU

,

Senior

Secured

Note

,

144A,

5.375

%

,

3/01/25

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

France

2,000,000

$

1,960,020

f,h

Netflix,

Inc.

,

Senior

Note

,

144A,

3.625

%

,

6/15/25

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

United

States

1,100,000

1,107,216

3,067,236

Equity

Real

Estate

Investment

Trusts

(REITs)

0.7%

f

American

Finance

Trust,

Inc.

/

American

Finance

Operating

Partner

LP

,

Senior

Note

,

144A,

4.5

%

,

9/30/28

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

United

States

500,000

451,028

f,g

Global

Net

Lease,

Inc.

/

Global

Net

Lease

Operating

Partnership

LP

,

Senior

Note

,

144A,

3.75

%

,

12/15/27

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

United

States

800,000

737,389

f,g

VICI

Properties

LP

/

VICI

Note

Co.,

Inc.

,

Senior

Note

,

144A,

3.75

%

,

2/15/27

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

United

States

700,000

681,905

f,g

XHR

LP

,

Senior

Secured

Note

,

144A,

4.875

%

,

6/01/29

.........

United

States

400,000

389,056

2,259,378

Food

Products

0.4%

g

B&G

Foods,

Inc.

,

Senior

Note,

5.25%,

4/01/25

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

United

States

1,000,000

979,410

Senior

Note,

5.25%,

9/15/27

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

United

States

400,000

382,786

1,362,196

Health

Care

Equipment

&

Supplies

0.3%

f

Mozart

Debt

Merger

Sub,

Inc.

,

Senior

Note,

144A,

5.25%,

10/01/29

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

United

States

500,000

465,475

Senior

Secured

Note,

144A,

3.875%,

4/01/29

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

United

States

400,000

370,510

f

Ortho-Clinical

Diagnostics,

Inc.

/

Ortho-Clinical

Diagnostics

SA

,

Senior

Note

,

144A,

7.375

%

,

6/01/25

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

United

States

180,000

185,673

1,021,658

Health

Care

Providers

&

Services

1.2%

g

Centene

Corp.

,

Senior

Note,

4.25%,

12/15/27

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

United

States

400,000

401,912

Senior

Note,

2.45%,

7/15/28

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

United

States

1,500,000

1,372,538

f

CHS/Community

Health

Systems,

Inc.

,

Secured

Note,

144A,

6.125%,

4/01/30

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

United

States

500,000

466,235

Senior

Secured

Note,

144A,

5.625%,

3/15/27

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

United

States

400,000

407,884

f,g

DaVita,

Inc.

,

Senior

Note

,

144A,

4.625

%

,

6/01/30

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

United

States

700,000

654,640

f,g

Tenet

Healthcare

Corp.

,

Senior

Secured

Note

,

144A,

4.875

%

,

1/01/26

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

United

States

500,000

504,980

3,808,189

Hotels,

Restaurants

&

Leisure

4.0%

b,f,i

24

Hour

Fitness

Worldwide,

Inc.

,

Senior

Note

,

144A,

8

%

,

6/01/22

.

United

States

1,500,000

450

f

Boyd

Gaming

Corp.

,

Senior

Note

,

144A,

8.625

%

,

6/01/25

.......

United

States

650,000

683,534

f

Boyne

USA,

Inc.

,

Senior

Note

,

144A,

4.75

%

,

5/15/29

...........

United

States

300,000

288,389

f,g

Carnival

Corp.

,

Senior

Note,

144A,

7.625%,

3/01/26

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

United

States

400,000

403,080

Senior

Note,

144A,

5.75%,

3/01/27

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

United

States

1,500,000

1,432,500

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

7

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Corporate

Bonds

(continued)

Hotels,

Restaurants

&

Leisure

(continued)

f,g

Everi

Holdings,

Inc.

,

Senior

Note

,

144A,

5

%

,

7/15/29

...........

United

States

700,000

$

664,002

f

Fertitta

Entertainment

LLC

/

Fertitta

Entertainment

Finance

Co.,

Inc.

,

Senior

Note

,

144A,

6.75

%

,

1/15/30

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

United

States

1,000,000

921,235

f

Genting

New

York

LLC

/

GENNY

Capital,

Inc.

,

Senior

Note

,

144A,

3.3

%

,

2/15/26

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

United

States

400,000

378,834

f

International

Game

Technology

plc

,

Senior

Secured

Note

,

144A,

4.125

%

,

4/15/26

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

United

States

400,000

395,686

f

Motion

Bondco

DAC

,

Senior

Note

,

144A,

6.625

%

,

11/15/27

......

United

Kingdom

200,000

188,878

f

NCL

Corp.

Ltd.

,

Senior

Note

,

144A,

5.875

%

,

3/15/26

...........

United

States

300,000

285,399

f

Papa

John's

International,

Inc.

,

Senior

Note

,

144A,

3.875

%

,

9/15/29

United

States

300,000

275,688

f

Penn

National

Gaming,

Inc.

,

Senior

Note

,

144A,

4.125

%

,

7/01/29

.

United

States

200,000

179,260

f

Premier

Entertainment

Sub

LLC

/

Premier

Entertainment

Finance

Corp.

,

Senior

Bond,

144A,

5.875%,

9/01/31

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

United

States

500,000

427,787

g

Senior

Note,

144A,

5.625%,

9/01/29

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

United

States

1,000,000

861,480

f,g

Royal

Caribbean

Cruises

Ltd.

,

Senior

Note

,

144A,

5.5

%

,

8/31/26

..

United

States

700,000

681,250

f

Station

Casinos

LLC

,

Senior

Note

,

144A,

4.5

%

,

2/15/28

........

United

States

200,000

190,042

f,g

Studio

City

Finance

Ltd.

,

Senior

Note

,

144A,

5

%

,

1/15/29

.......

Macau

1,500,000

1,144,155

f,g

Wynn

Las

Vegas

LLC

/

Wynn

Las

Vegas

Capital

Corp.

,

Senior

Bond

,

144A,

5.5

%

,

3/01/25

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

United

States

1,700,000

1,702,380

f

Wynn

Macau

Ltd.

,

Senior

Note

,

144A,

5.625

%

,

8/26/28

.........

Macau

500,000

435,315

f,g

Wynn

Resorts

Finance

LLC

/

Wynn

Resorts

Capital

Corp.

,

Senior

Note

,

144A,

7.75

%

,

4/15/25

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

United

States

1,500,000

1,559,168

13,098,512

Household

Durables

0.7%

f,g

Ashton

Woods

USA

LLC

/

Ashton

Woods

Finance

Co.

,

Senior

Note,

144A,

6.625%,

1/15/28

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

United

States

500,000

512,860

Senior

Note,

144A,

4.625%,

4/01/30

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

United

States

1,000,000

872,990

g

M/I

Homes,

Inc.

,

Senior

Note

,

3.95

%

,

2/15/30

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

United

States

600,000

529,062

f

Williams

Scotsman

International,

Inc.

,

Senior

Secured

Note

,

144A,

4.625

%

,

8/15/28

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

United

States

300,000

292,842

2,207,754

Independent

Power

and

Renewable

Electricity

Producers

1.7%

f,g

Calpine

Corp.

,

Senior

Note

,

144A,

5.125

%

,

3/15/28

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

United

States

1,500,000

1,431,623

f

Clearway

Energy

Operating

LLC

,

Senior

Bond,

144A,

3.75%,

1/15/32

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

United

States

400,000

368,780

g

Senior

Note,

144A,

4.75%,

3/15/28

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

United

States

300,000

301,813

Senior

Note,

144A,

3.75%,

2/15/31

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

United

States

200,000

187,454

f,g

InterGen

NV

,

Senior

Secured

Bond

,

144A,

7

%

,

6/30/23

.........

Netherlands

2,000,000

1,965,470

f,g

Leeward

Renewable

Energy

Operations

LLC

,

Senior

Note

,

144A,

4.25

%

,

7/01/29

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

United

States

1,000,000

939,195

g

Talen

Energy

Supply

LLC

,

Senior

Note

,

6.5

%

,

6/01/25

..........

United

States

1,600,000

405,192

5,599,527

Insurance

0.3%

f,g

Alliant

Holdings

Intermediate

LLC

/

Alliant

Holdings

Co-Issuer

,

Senior

Note

,

144A,

6.75

%

,

10/15/27

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

United

States

1,100,000

1,088,670

Internet

&

Direct

Marketing

Retail

0.0%

†

f

Match

Group

Holdings

II

LLC

,

Senior

Note

,

144A,

3.625

%

,

10/01/31

United

States

100,000

89,600

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

8

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Corporate

Bonds

(continued)

IT

Services

1.0%

f,g

Cablevision

Lightpath

LLC

,

Senior

Secured

Note

,

144A,

3.875

%

,

9/15/27

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

United

States

700,000

$

655,914

f

Cogent

Communications

Group,

Inc.

,

Senior

Secured

Note

,

144A,

3.5

%

,

5/01/26

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

United

States

500,000

475,683

f

Gartner,

Inc.

,

g

Senior

Note,

144A,

4.5%,

7/01/28

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

United

States

500,000

498,700

Senior

Note,

144A,

3.625%,

6/15/29

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

United

States

200,000

187,778

f,g

Northwest

Fiber

LLC

/

Northwest

Fiber

Finance

Sub,

Inc.

,

Senior

Note

,

144A,

6

%

,

2/15/28

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

United

States

1,100,000

967,842

f,g

Presidio

Holdings,

Inc.

,

Senior

Note

,

144A,

8.25

%

,

2/01/28

......

United

States

400,000

408,524

3,194,441

Machinery

1.3%

f,g

ATS

Automation

Tooling

Systems,

Inc.

,

Senior

Note

,

144A,

4.125

%

,

12/15/28

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

Canada

1,300,000

1,223,560

g

Hillenbrand,

Inc.

,

Senior

Note

,

5.75

%

,

6/15/25

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

United

States

800,000

821,020

f,g

Manitowoc

Co.,

Inc.

(The)

,

Secured

Note

,

144A,

9

%

,

4/01/26

....

United

States

1,000,000

1,043,845

f

Roller

Bearing

Co.

of

America,

Inc.

,

Senior

Note

,

144A,

4.375

%

,

10/15/29

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

United

States

800,000

747,000

f

TK

Elevator

Holdco

GmbH

,

Senior

Note

,

144A,

7.625

%

,

7/15/28

..

Germany

300,000

297,965

4,133,390

Media

2.5%

f,g

Clear

Channel

International

BV

,

Senior

Secured

Note

,

144A,

6.625

%

,

8/01/25

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

United

Kingdom

300,000

305,625

f

Clear

Channel

Outdoor

Holdings,

Inc.

,

Senior

Note,

144A,

7.75%,

4/15/28

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

United

States

300,000

301,909

Senior

Note,

144A,

7.5%,

6/01/29

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

United

States

200,000

199,806

Senior

Secured

Note,

144A,

5.125%,

8/15/27

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

United

States

300,000

297,300

g

CSC

Holdings

LLC

,

Senior

Bond

,

5.25

%

,

6/01/24

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

United

States

500,000

501,500

f

Diamond

Sports

Group

LLC

/

Diamond

Sports

Finance

Co.

,

Secured

Note,

144A,

5.375%,

8/15/26

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

United

States

800,000

310,992

g

Senior

Note,

144A,

6.625%,

8/15/27

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

United

States

500,000

104,225

f

Directv

Financing

LLC

/

Directv

Financing

Co-Obligor,

Inc.

,

Senior

Secured

Note

,

144A,

5.875

%

,

8/15/27

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

United

States

200,000

197,015

f,g

DISH

DBS

Corp.

,

Senior

Secured

Note

,

144A,

5.75

%

,

12/01/28

...

United

States

1,000,000

948,125

f,g

LCPR

Senior

Secured

Financing

DAC

,

Senior

Secured

Note

,

144A,

6.75

%

,

10/15/27

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

United

States

450,000

462,888

f

News

Corp.

,

Senior

Note

,

144A,

3.875

%

,

5/15/29

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

United

States

1,200,000

1,135,818

f,g

Scripps

Escrow,

Inc.

,

Senior

Note

,

144A,

5.875

%

,

7/15/27

.......

United

States

500,000

501,100

f

Sinclair

Television

Group,

Inc.

,

Senior

Bond

,

144A,

5.5

%

,

3/01/30

.

United

States

700,000

607,166

f,g

Sirius

XM

Radio,

Inc.

,

Senior

Note

,

144A,

4

%

,

7/15/28

.........

United

States

600,000

570,813

f

Univision

Communications,

Inc.

,

g

Senior

Secured

Note,

144A,

9.5%,

5/01/25

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

United

States

1,200,000

1,261,650

Senior

Secured

Note,

144A,

4.5%,

5/01/29

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

United

States

400,000

381,280

8,087,212

Metals

&

Mining

0.5%

f,g

Constellium

SE

,

Senior

Note

,

144A,

3.75

%

,

4/15/29

...........

United

States

600,000

539,619

d,f

Petra

Diamonds

US

Treasury

plc

,

Senior

Secured

Note

,

144A,

PIK,

10.5

%

,

3/08/26

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

South

Africa

692,148

711,845

f,g

SunCoke

Energy,

Inc.

,

Senior

Secured

Note

,

144A,

4.875

%

,

6/30/29

United

States

600,000

566,400

1,817,864

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

9

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Corporate

Bonds

(continued)

Mortgage

Real

Estate

Investment

Trusts

(REITs)

0.3%

f,g

Apollo

Commercial

Real

Estate

Finance,

Inc.

,

Senior

Secured

Note

,

144A,

4.625

%

,

6/15/29

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

United

States

1,000,000

$

909,445

Multiline

Retail

0.7%

f

Macy's

Retail

Holdings

LLC

,

Senior

Bond,

144A,

6.125%,

3/15/32

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

United

States

600,000

593,298

Senior

Note,

144A,

5.875%,

3/15/30

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

United

States

600,000

592,602

Nordstrom,

Inc.

,

Senior

Bond

,

4

%

,

3/15/27

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

United

States

1,000,000

965,375

2,151,275

Oil,

Gas

&

Consumable

Fuels

4.5%

f

Antero

Resources

Corp.

,

Senior

Note,

144A,

8.375%,

7/15/26

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

United

States

132,000

145,692

Senior

Note,

144A,

7.625%,

2/01/29

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

United

States

166,000

179,755

f

Calumet

Specialty

Products

Partners

LP

/

Calumet

Finance

Corp.

,

Senior

Note

,

144A,

8.125

%

,

1/15/27

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

United

States

900,000

838,053

Cheniere

Energy

Partners

LP

,

f

Senior

Bond,

144A,

3.25%,

1/31/32

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

United

States

200,000

182,179

g

Senior

Note,

4.5%,

10/01/29

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

United

States

900,000

905,566

Senior

Note,

4%,

3/01/31

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

United

States

1,000,000

970,945

g

Cheniere

Energy,

Inc.

,

Senior

Secured

Note

,

4.625

%

,

10/15/28

...

United

States

600,000

602,775

f,g

Chesapeake

Energy

Corp.

,

Senior

Note

,

144A,

5.5

%

,

2/01/26

....

United

States

500,000

512,750

f

Crestwood

Midstream

Partners

LP

/

Crestwood

Midstream

Finance

Corp.

,

h

Senior

Note,

144A,

6%,

2/01/29

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

United

States

1,500,000

1,497,495

g

Senior

Note,

144A,

8%,

4/01/29

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

United

States

500,000

534,375

f

CrownRock

LP

/

CrownRock

Finance,

Inc.

,

Senior

Note

,

144A,

5

%

,

5/01/29

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

United

States

300,000

300,638

f,g

Endeavor

Energy

Resources

LP

/

EER

Finance,

Inc.

,

Senior

Bond,

144A,

5.75%,

1/30/28

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

United

States

800,000

827,900

Senior

Note,

144A,

6.625%,

7/15/25

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

United

States

500,000

519,573

f

EQT

Corp.

,

Senior

Note

,

144A,

3.125

%

,

5/15/26

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

United

States

300,000

291,729

f

Harbour

Energy

plc

,

Senior

Note

,

144A,

5.5

%

,

10/15/26

........

United

Kingdom

500,000

494,388

f

Hilcorp

Energy

I

LP

/

Hilcorp

Finance

Co.

,

Senior

Note

,

144A,

5.75

%

,

2/01/29

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

United

States

500,000

501,300

f

Martin

Midstream

Partners

LP

/

Martin

Midstream

Finance

Corp.

,

Secured

Note,

144A,

10%,

2/29/24

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

United

States

208,912

212,377

Secured

Note,

144A,

11.5%,

2/28/25

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

United

States

1,848,728

1,894,354

d,f,i

Murray

Energy

Corp.

,

Secured

Note

,

144A,

PIK,

12

%

,

4/15/24

...

United

States

606,187

3,092

Occidental

Petroleum

Corp.

,

Senior

Note,

5.875%,

9/01/25

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

United

States

200,000

212,726

g

Senior

Note,

5.5%,

12/01/25

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

United

States

1,000,000

1,053,900

h

Senior

Note,

8.5%,

7/15/27

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

United

States

1,000,000

1,184,844

f

Venture

Global

Calcasieu

Pass

LLC

,

Senior

Secured

Bond,

144A,

4.125%,

8/15/31

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

United

States

300,000

294,843

Senior

Secured

Note,

144A,

3.875%,

8/15/29

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

United

States

300,000

292,069

f,g

Viper

Energy

Partners

LP

,

Senior

Note

,

144A,

5.375

%

,

11/01/27

..

United

States

400,000

407,972

14,861,290

Paper

&

Forest

Products

0.1%

f

Glatfelter

Corp.

,

Senior

Note

,

144A,

4.75

%

,

11/15/29

...........

United

States

400,000

339,756

Personal

Products

0.2%

f

Prestige

Brands,

Inc.

,

Senior

Bond,

144A,

3.75%,

4/01/31

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

United

States

300,000

268,341

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

10

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Corporate

Bonds

(continued)

Personal

Products

(continued)

f

Prestige

Brands,

Inc.,

(continued)

g

Senior

Note,

144A,

5.125%,

1/15/28

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

United

States

500,000

$

497,295

765,636

Pharmaceuticals

2.3%

f,g

Bausch

Health

Americas,

Inc.

,

Senior

Note

,

144A,

9.25

%

,

4/01/26

.

United

States

1,500,000

1,537,845

f

Bausch

Health

Cos.,

Inc.

,

Senior

Bond

,

144A,

6.125

%

,

4/15/25

...

United

States

244,000

246,288

f,g

Endo

Dac

/

Endo

Finance

LLC

/

Endo

Finco,

Inc.

,

Secured

Note,

144A,

9.5%,

7/31/27

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

United

States

492,000

432,222

Senior

Note,

144A,

6%,

6/30/28

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

United

States

613,000

348,644

f,g

Endo

Luxembourg

Finance

Co.

I

SARL

/

Endo

US,

Inc.

,

Senior

Secured

Note

,

144A,

6.125

%

,

4/01/29

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

United

States

500,000

456,853

f,g

Jazz

Securities

DAC

,

Senior

Secured

Note

,

144A,

4.375

%

,

1/15/29

United

States

1,300,000

1,261,123

f,h

Organon

&

Co.

/

Organon

Foreign

Debt

Co-Issuer

BV

,

Senior

Secured

Note

,

144A,

4.125

%

,

4/30/28

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

United

States

1,300,000

1,240,200

f,g

Par

Pharmaceutical,

Inc.

,

Senior

Secured

Note

,

144A,

7.5

%

,

4/01/27

United

States

203,000

189,768

Teva

Pharmaceutical

Finance

Netherlands

III

BV

,

g

Senior

Note,

7.125%,

1/31/25

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

Israel

900,000

947,875

Senior

Note,

4.75%,

5/09/27

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

Israel

900,000

865,080

7,525,898

Real

Estate

Management

&

Development

0.5%

f,g

Five

Point

Operating

Co.

LP

/

Five

Point

Capital

Corp.

,

Senior

Note

,

144A,

7.875

%

,

11/15/25

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

United

States

1,000,000

1,024,770

f,g

Forestar

Group,

Inc.

,

Senior

Note

,

144A,

3.85

%

,

5/15/26

........

United

States

500,000

466,887

1,491,657

Road

&

Rail

0.7%

f,g

First

Student

Bidco,

Inc.

/

First

Transit

Parent,

Inc.

,

Senior

Secured

Note

,

144A,

4

%

,

7/31/29

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

United

States

900,000

840,587

f,g

NESCO

Holdings

II,

Inc.

,

Secured

Note

,

144A,

5.5

%

,

4/15/29

....

United

States

500,000

491,870

b,d

Onsite

Rental

Group

Operations

Pty.

Ltd.

,

PIK,

6.1

%

,

10/26/23

...

Australia

952,561

987,060

2,319,517

Software

0.9%

f,g

Camelot

Finance

SA

,

Senior

Secured

Note

,

144A,

4.5

%

,

11/01/26

.

United

States

700,000

681,937

f

Condor

Merger

Sub,

Inc.

,

Senior

Note

,

144A,

7.375

%

,

2/15/30

...

United

States

1,300,000

1,248,812

f,g

Rocket

Software,

Inc.

,

Senior

Note

,

144A,

6.5

%

,

2/15/29

........

United

States

1,300,000

1,182,291

3,113,040

Specialty

Retail

0.9%

f

Bath

&

Body

Works,

Inc.

,

Senior

Note

,

144A,

6.625

%

,

10/01/30

...

United

States

500,000

525,588

f,g

Gap,

Inc.

(The)

,

Senior

Note

,

144A,

3.625

%

,

10/01/29

..........

United

States

700,000

625,082

f,g

Lithia

Motors,

Inc.

,

Senior

Note

,

144A,

4.625

%

,

12/15/27

........

United

States

400,000

397,518

f

Michaels

Cos.,

Inc.

(The)

,

Senior

Note,

144A,

7.875%,

5/01/29

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

United

States

600,000

514,497

Senior

Secured

Note,

144A,

5.25%,

5/01/28

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

United

States

300,000

275,814

j

Party

City

Holdings,

Inc.

,

Senior

Secured

Note

,

FRN

,

5.75

%

,

(

6-month

USD

LIBOR

+

5

%

),

7/15/25

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

United

States

239,415

216,394

f

Victoria's

Secret

&

Co.

,

Senior

Note

,

144A,

4.625

%

,

7/15/29

.....

United

States

400,000

360,750

2,915,643

Textiles,

Apparel

&

Luxury

Goods

0.3%

f,g

Hanesbrands,

Inc.

,

Senior

Note

,

144A,

4.625

%

,

5/15/24

........

United

States

1,000,000

1,016,660

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

11

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Corporate

Bonds

(continued)

Thrifts

&

Mortgage

Finance

0.8%

f

Ladder

Capital

Finance

Holdings

LLLP

/

Ladder

Capital

Finance

Corp.

,

Senior

Note

,

144A,

4.75

%

,

6/15/29

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

United

States

300,000

$

283,323

g

MGIC

Investment

Corp.

,

Senior

Note

,

5.25

%

,

8/15/28

..........

United

States

500,000

494,495

g

Radian

Group,

Inc.

,

Senior

Note

,

6.625

%

,

3/15/25

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

United

States

900,000

948,245

f

United

Wholesale

Mortgage

LLC

,

Senior

Note

,

144A,

5.5

%

,

11/15/25

United

States

900,000

874,516

2,600,579

Trading

Companies

&

Distributors

0.5%

f,h

H&E

Equipment

Services,

Inc.

,

Senior

Note

,

144A,

3.875

%

,

12/15/28

United

States

1,200,000

1,126,494

f

WESCO

Distribution,

Inc.

,

Senior

Note

,

144A,

7.125

%

,

6/15/25

...

United

States

500,000

520,705

1,647,199

Wireless

Telecommunication

Services

0.5%

g

T-Mobile

USA,

Inc.

,

Senior

Bond,

2.875%,

2/15/31

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

United

States

300,000

270,750

Senior

Note,

2.625%,

4/15/26

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

United

States

1,000,000

956,420

Senior

Note,

2.625%,

2/15/29

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

United

States

300,000

274,229

1,501,399

Total

Corporate

Bonds

(Cost

$157,583,823)

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

148,668,258

j

Senior

Floating

Rate

Interests

40.4%

Aerospace

&

Defense

1.2%

AI

Convoy

(Luxembourg)

SARL

,

USD

Term

Loan,

B

,

4.5

%

,

(

6-month

USD

LIBOR

+

3.5

%

),

1/18/27

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

Luxembourg

732,936

724,690

d

Alloy

FinCo

Ltd.

,

Term

Loan,

B

,

14

%

,

PIK,

(

3-month

USD

LIBOR

+

0.5

%

),

3/06/25

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

United

Kingdom

783,212

784,841

k,l

Cobham

Ultra

US

Co-Borrower

LLC

,

Term

Loan

,

TBD,

11/17/28

..

United

States

335,570

332,495

Dynasty

Acquisition

Co.,

Inc.

,

2020

Term

Loan,

B1,

4.506%,

(3-month

USD

LIBOR

+

3.5%),

4/06/26

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

United

States

992,040

977,571

2020

Term

Loan,

B2,

4.506%,

(3-month

USD

LIBOR

+

3.5%),

4/06/26

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

United

States

533,355

525,576

Vertex

Aerospace

Services

Corp.

,

First

Lien,

Initial

Term

Loan

,

4.75

%

,

(

1-month

USD

LIBOR

+

4

%

),

12/06/28

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

United

States

554,913

553,876

3,899,049

a

a

a

a

a

a

Air

Freight

&

Logistics

0.5%

Kenan

Advantage

Group,

Inc.

(The)

,

U.S.

Term

Loan,

B1

,

4.5

%

,

(

3-month

USD

LIBOR

+

3.75

%

),

3/24/26

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

United

States

1,626,858

1,608,052

Airlines

1.2%

AAdvantage

Loyalty

IP

Ltd.

(American

Airlines,

Inc.)

,

Initial

Term

Loan

,

5.5

%

,

(

3-month

USD

LIBOR

+

4.75

%

),

4/20/28

.........

United

States

724,129

734,991

Air

Canada

,

Term

Loan

,

4.25

%

,

(

3-month

USD

LIBOR

+

3.5

%

),

8/11/28

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

Canada

920,155

912,486

Kestrel

Bidco,

Inc.

,

Term

Loan

,

4

%

,

(

3-month

USD

LIBOR

+

3

%

),

12/11/26

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

Canada

843,410

815,122

SkyMiles

IP

Ltd.

(Delta

Air

Lines,

Inc.)

,

Initial

Term

Loan

,

4.75

%

,

(

3-month

USD

LIBOR

+

3.75

%

),

10/20/27

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

United

States

546,388

565,681

United

AirLines,

Inc.

,

Term

Loan,

B

,

4.5

%

,

(

3-month

USD

LIBOR

+

3.75

%

),

4/21/28

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

United

States

994,420

984,406

4,012,686

a

a

a

a

a

a

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

12

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

j

Senior

Floating

Rate

Interests

(continued)

Auto

Components

1.0%

Adient

US

LLC

,

Term

Loan,

B1

,

3.707

%

,

(

1-month

USD

LIBOR

+

3.25

%

),

4/10/28

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

United

States

741,881

$

731,680

DexKo

Global,

Inc.

,

First

Lien,

Closing

Date

Term

Loan,

4.717%,

(3-month

USD

LIBOR

+

3.75%),

10/04/28

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

United

States

403,846

396,611

First

Lien,

Delayed

Draw

Dollar

Term

Loan,

4.553%,

(1-month

USD

LIBOR

+

3.75%;

3-month

USD

LIBOR

+

3.75%;

3-month

USD

LIBOR

+

4.717%),

10/04/28

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

United

States

76,923

75,545

First

Brands

Group

LLC

,

First

Lien,

2021

Term

Loan

,

6

%

,

(

3-month

USD

LIBOR

+

5

%

),

3/30/27

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

United

States

1,004,589

999,567

Highline

Aftermarket

Acquisition

LLC

,

First

Lien,

Initial

Term

Loan

,

5.25

%

,

(

3-month

USD

LIBOR

+

4.5

%

),

11/09/27

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

United

States

544,275

523,184

Truck

Hero,

Inc.

,

Initial

Term

Loan

,

4

%

,

(

1-month

USD

LIBOR

+

3.25

%

),

1/31/28

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

United

States

708,354

688,212

3,414,799

a

a

a

a

a

a

Automobiles

0.5%

American

Trailer

World

Corp.

,

First

Lien,

Initial

Term

Loan

,

4.5

%

,

(

1-month

USD

LIBOR

+

3.75

%

),

3/03/28

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

United

States

1,660,281

1,597,763

Banks

0.2%

Finastra

Ltd.

,

First

Lien,

Dollar

Term

Loan

,

4.5

%

,

(

3-month

USD

LIBOR

+

3.5

%

),

6/13/24

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

United

Kingdom

783,929

775,200

Beverages

0.4%

City

Brewing

Co.

LLC

,

First

Lien,

Closing

Date

Term

Loan

,

4.25

%

,

(

3-month

USD

LIBOR

+

3.5

%

),

4/05/28

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

United

States

473,810

435,905

Triton

Water

Holdings,

Inc.

,

First

Lien,

Initial

Term

Loan

,

4.506

%

,

(

3-month

USD

LIBOR

+

3.5

%

),

3/31/28

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

United

States

873,637

853,822

1,289,727

a

a

a

a

a

a

Capital

Markets

1.1%

Deerfield

Dakota

Holding

LLC

,

First

Lien,

Initial

Dollar

Term

Loan

,

4.75

%

,

(

1-month

USD

LIBOR

+

3.75

%

),

4/09/27

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

United

States

1,015,918

1,012,215

Edelman

Financial

Engines

Center

LLC

(The)

,

First

Lien,

2021

Initial

Term

Loan

,

4.25

%

,

(

1-month

USD

LIBOR

+

3.5

%

),

4/07/28

....

United

States

991,082

981,379

Jane

Street

Group

LLC

,

Dollar

Term

Loan

,

3.207

%

,

(

1-month

USD

LIBOR

+

2.75

%

),

1/26/28

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

United

States

544,484

538,247

Russell

Investments

US

Institutional

Holdco,

Inc.

,

2025

Term

Loan

,

4.5

%

,

(

3-month

USD

LIBOR

+

3.5

%

),

5/30/25

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

United

States

1,000,000

988,540

3,520,381

a

a

a

a

a

a

Chemicals

2.3%

CPC

Acquisition

Corp.

,

First

Lien,

Initial

Term

Loan

,

4.756

%

,

(

3-month

USD

LIBOR

+

3.75

%

),

12/29/27

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

United

States

783,778

764,184

Cyanco

Intermediate

2

Corp.

,

First

Lien,

Initial

Term

Loan

,

3.957

%

,

(

1-month

USD

LIBOR

+

3.5

%

),

3/16/25

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

United

States

185,344

182,100

Hexion

Holdings

Corp.

,

First

Lien,

Initial

CME

Term

Loan,

5%,

(1-month

SOFR

+

4.5%),

3/15/29

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

United

States

1,000,000

980,000

k,l

Second

Lien,

Term

Loan,

TBD,

2/04/28

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

United

States

279,070

268,605

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

13

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

j

Senior

Floating

Rate

Interests

(continued)

Chemicals

(continued)

INEOS

Styrolution

Group

GmbH

,

2026

Dollar

Term

Loan,

B

,

3.25

%

,

(

1-month

USD

LIBOR

+

2.75

%

),

1/29/26

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

United

Kingdom

929,641

$

914,883

LSF11

A5

Holdco

LLC

,

Term

Loan

,

4

%

,

(

1-month

USD

LIBOR

+

3.5

%

),

10/15/28

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

United

States

630,769

622,963

Lummus

Technology

Holdings

V

LLC

,

2021

Refinancing

Term

Loan,

B

,

3.957

%

,

(

1-month

USD

LIBOR

+

3.5

%

),

6/30/27

..........

United

States

928,135

899,135

k,l

PMHC

II,

Inc.

,

CME

Term

Loan,

B

,

TBD,

2/02/29

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

United

States

1,200,000

1,147,998

SCIH

Salt

Holdings,

Inc.

,

First

Lien,

Incremental

Term

Loan,

B1

,

4.75

%

,

(

3-month

USD

LIBOR

+

4

%

),

3/16/27

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

United

States

1,208,459

1,190,979

Sparta

U.S.

Holdco

LLC

,

First

Lien,

Initial

Term

Loan

,

4.25

%

,

(

1-month

USD

LIBOR

+

3.5

%

),

8/02/28

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

United

States

654,609

648,063

7,618,910

a

a

a

a

a

a

Commercial

Services

&

Supplies

1.9%

Allied

Universal

Holdco

LLC

,

Initial

U.S.

Dollar

Term

Loan

,

4.25

%

,

(

1-month

USD

LIBOR

+

3.75

%

),

5/12/28

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

United

States

1,372,028

1,352,792

Amentum

Government

Services

Holdings

LLC

,

First

Lien,

CME

Term

Loan,

3

,

4.5

%

,

(

3-month

SOFR

+

4

%

),

2/15/29

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

United

States

1,971,681

1,959,358

APX

Group,

Inc.

,

Initial

Term

Loan

,

4.005

%

,

(

1-month

USD

LIBOR

+

3.5%;

3-month

USD

LIBOR

+

2.5%

),

7/10/28

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

United

States

686,745

678,408

CCI

Buyer,

Inc.

,

First

Lien,

Initial

Term

Loan

,

4.75

%

,

(

1-month

USD

LIBOR

+

4

%

),

12/17/27

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

United

States

711,064

702,770

Revint

Intermediate

II

LLC

,

Initial

Term

Loan

,

4.75

%

,

(

1-month

USD

LIBOR

+

4.25

%

),

10/15/27

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

United

States

293,837

293,195

Spin

Holdco,

Inc.

,

Initial

Term

Loan

,

4.75

%

,

(

3-month

USD

LIBOR

+

4

%

),

3/04/28

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

United

States

1,290,250

1,282,631

6,269,154

a

a

a

a

a

a

Construction

&

Engineering

0.2%

USIC

Holdings,

Inc.

,

First

Lien,

Initial

Term

Loan

,

4.25

%

,

(

1-month

USD

LIBOR

+

3.5

%

),

5/12/28

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

United

States

672,483

666,898

Containers

&

Packaging

1.0%

Charter

Next

Generation,

Inc.

,

First

Lien,

2021

Initial

Term

Loan

,

4.5

%

,

(

1-month

USD

LIBOR

+

3.75

%

),

12/01/27

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

United

States

907,999

904,167

Kleopatra

Finco

SARL

,

USD

Term

Loan,

B

,

5.554

%

,

(

6-month

USD

LIBOR

+

4.75

%

),

2/12/26

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

Luxembourg

1,622,774

1,483,832

Mauser

Packaging

Solutions

Holding

Co.

,

Initial

Term

Loan

,

3.481

%

,

(

1-month

USD

LIBOR

+

3.25

%

),

4/03/24

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

United

States

979,434

967,701

3,355,700

a

a

a

a

a

a

Diversified

Consumer

Services

0.5%

KUEHG

Corp.

,

Term

Loan,

B3

,

4.756

%

,

(

3-month

USD

LIBOR

+

3.75

%

),

2/21/25

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

United

States

296,154

292,221

Pre-Paid

Legal

Services,

Inc.

,

First

Lien,

Initial

Term

Loan

,

4.25

%

,

(

1-month

USD

LIBOR

+

3.75

%

),

12/15/28

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

United

States

705,426

697,857

Sedgwick

Claims

Management

Services,

Inc.

(Lightning

Cayman

Merger

Sub

Ltd.)

,

Initial

Term

Loan

,

3.707

%

,

(

1-month

USD

LIBOR

+

3.25

%

),

12/31/25

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

United

States

585,269

580,253

1,570,331

a

a

a

a

a

a

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

14

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

j

Senior

Floating

Rate

Interests

(continued)

Diversified

Financial

Services

1.3%

Astra

Acquisition

Corp.

,

First

Lien,

Term

Loan,

B2

,

5.75

%

,

(

1-month

USD

LIBOR

+

5.25

%

),

10/25/28

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

United

States

687,254

$

668,784

Mercury

Borrower,

Inc.

,

First

Lien,

Initial

Term

Loan

,

4.563

%

,

(

3-month

USD

LIBOR

+

3.5

%

),

8/02/28

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

United

States

841,772

836,511

MPH

Acquisition

Holdings

LLC

,

Initial

Term

Loan

,

4.758

%

,

(

3-month

USD

LIBOR

+

4.25

%

),

9/01/28

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

United

States

437,428

426,029

Red

Planet

Borrower

LLC

,

Initial

Term

Loan

,

4.756

%

,

(

3-month

USD

LIBOR

+

3.75

%

),

10/02/28

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

United

States

629,747

622,795

Verscend

Holding

Corp.

,

Term

Loan,

B1

,

4.457

%

,

(

1-month

USD

LIBOR

+

4

%

),

8/27/25

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

United

States

1,600,457

1,598,456

4,152,575

a

a

a

a

a

a

Diversified

Telecommunication

Services

0.7%

Altice

France

SA

,

USD

Incremental

Term

Loan,

B13

,

4.506

%

,

(

3-month

USD

LIBOR

+

4

%

),

8/14/26

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

France

490,475

482,097

Global

Tel*Link

Corp.

,

First

Lien,

Term

Loan

,

4.707

%

,

(

1-month

USD

LIBOR

+

4.25

%

),

11/29/25

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

United

States

1,934,809

1,844,463

Intrado

Corp.

,

Initial

Term

Loan,

B

,

5

%

,

(

3-month

USD

LIBOR

+

4

%

),

10/10/24

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

United

States

127,241

116,657

2,443,217

a

a

a

a

a

a

Electric

Utilities

0.2%

Astoria

Energy

LLC

,

2020

Advance

Term

Loan,

B

,

4.5

%

,

(

3-month

USD

LIBOR

+

3.5

%

),

12/10/27

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

United

States

562,803

556,384

Electronic

Equipment,

Instruments

&

Components

0.1%

Verifone

Systems,

Inc.

,

First

Lien,

Initial

Term

Loan

,

4.498

%

,

(

3-month

USD

LIBOR

+

4

%

),

8/20/25

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

United

States

394,898

389,962

Entertainment

0.4%

Lions

Gate

Capital

Holdings

LLC

,

2023

Term

Loan,

A

,

1.959

%

,

(

1-month

USD

LIBOR

+

1.75

%

),

3/22/23

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

United

States

1,036,805

1,032,916

William

Morris

Endeavor

Entertainment

LLC

(IMG

Worldwide

Holdings

LLC)

,

First

Lien,

Term

Loan,

B1

,

2.96

%

,

(

1-month

USD

LIBOR

+

2.75

%

),

5/18/25

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

United

States

393,597

387,613

1,420,529

a

a

a

a

a

a

Food

&

Staples

Retailing

0.1%

GNC

Holdings,

Inc.

,

Second

Lien,

Term

Loan

,

6.387

%

,

(

1-month

USD

LIBOR

+

6

%

),

10/07/26

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

United

States

109,037

102,427

Shearer's

Foods

LLC

,

First

Lien,

Refinancing

Term

Loan

,

4.25

%

,

(

1-month

USD

LIBOR

+

3.5

%

),

9/23/27

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

United

States

165,769

161,324

263,751

a

a

a

a

a

a

Food

Products

0.1%

k,l

Primary

Products

Finance

LLC

,

CME

Term

Loan,

B

,

TBD,

4/01/29

.

United

States

206,897

205,681

Health

Care

Equipment

&

Supplies

0.3%

k,l

Bausch

Health

Companies,

Inc.

,

Term

Loan,

B

,

TBD,

1/27/27

....

Canada

378,886

375,838

k,l

US

Radiology

Specialists,

Inc.

(US

Outpatient

Imaging

Services,

Inc.)

,

Closing

Date

Term

Loan

,

TBD,

12/15/27

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

United

States

589,851

588,807

964,645

a

a

a

a

a

a

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

15

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

j

Senior

Floating

Rate

Interests

(continued)

Health

Care

Providers

&

Services

3.6%

ADMI

Corp.

,

Amendment

No.

4

Refinancing

Term

Loan,

3.875%,

(1-month

USD

LIBOR

+

3.375%),

12/23/27

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

United

States

773,266

$

761,245

Amendment

No.

5

Incremental

Term

Loan,

4%,

(1-month

USD

LIBOR

+

3.5%),

12/23/27

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

United

States

208,286

206,312

Aveanna

Healthcare

LLC

,

First

Lien,

2021

Extended

Term

Loan

,

4.25

%

,

(

3-month

USD

LIBOR

+

3.75

%

),

7/17/28

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

United

States

707,093

689,681

CNT

Holdings

I

Corp.

,

First

Lien,

Initial

Term

Loan

,

4.25

%

,

(

3-month

USD

LIBOR

+

3.5

%

),

11/08/27

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

United

States

148,754

148,150

k,l

Dermatology

Intermediate

Holdings

III,

Inc.

,

CME

Term

Loan,

B

,

TBD,

3/23/29

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

United

States

199,735

197,738

eResearchTechnology,

Inc.

,

First

Lien,

Initial

Term

Loan

,

5.5

%

,

(

1-month

USD

LIBOR

+

4.5

%

),

2/04/27

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

United

States

859,212

857,334

k,l

FINThrive

Software

Intermediate

Holdings,

Inc.

,

First

Lien,

Initial

Term

Loan

,

TBD,

12/18/28

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

United

States

634,538

629,182

Global

Medical

Response,

Inc.

,

2018

New

Term

Loan

,

5.25

%

,

(

3-month

USD

LIBOR

+

4.25

%

),

3/14/25

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

United

States

833,762

830,039

Heartland

Dental

LLC

,

2021

Incremental

Term

Loan

,

4.447

%

,

(

1-month

USD

LIBOR

+

4

%

),

4/30/25

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

United

States

406,023

403,195

Medical

Solutions

Holdings,

Inc.

,

First

Lien,

Initial

Term

Loan

,

4

%

,

(

3-month

USD

LIBOR

+

3.5

%

),

11/01/28

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

United

States

323,077

320,856

National

Mentor

Holdings,

Inc.

,

First

Lien,

Initial

Term

Loan,

4.5%,

(1-month

USD

LIBOR

+

3.75%;

3-month

USD

LIBOR

+

3.75%),

3/02/28

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

United

States

1,513,570

1,468,367

First

Lien,

Initial

Term

Loan,

C,

4.76%,

(3-month

USD

LIBOR

+

3.75%),

3/02/28

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

United

States

48,018

46,584

k,l

Owens

&

Minor,

Inc.

,

CME

Term

Loan,

B1

,

TBD,

3/29/29

........

United

States

150,754

150,565

Pathway

Vet

Alliance

LLC

,

First

Lien,

2021

Replacement

Term

Loan

,

4.207

%

,

(

1-month

USD

LIBOR

+

3.75

%

),

3/31/27

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

United

States

731,609

725,668

Phoenix

Newco,

Inc.

,

First

Lien,

Initial

Term

Loan

,

4

%

,

(

1-month

USD

LIBOR

+

3.5

%

),

11/15/28

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

United

States

258,065

256,498

Pluto

Acquisition

I,

Inc.

,

First

Lien,

2021

Term

Loan

,

4.508

%

,

(

3-month

USD

LIBOR

+

4

%

),

6/22/26

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

United

States

850,408

839,778

Radiology

Partners,

Inc.

,

First

Lien,

Term

Loan,

B

,

4.706

%

,

(

1-month

USD

LIBOR

+

4.25

%

),

7/09/25

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

United

States

724,138

716,122

U.S.

Anesthesia

Partners,

Inc.

,

First

Lien,

Initial

Term

Loan

,

4.75

%

,

(

3-month

USD

LIBOR

+

4.25

%

),

10/01/28

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

United

States

349,225

347,414

U.S.

Renal

Care,

Inc.

,

Initial

Term

Loan

,

5.5

%

,

(

1-month

USD

LIBOR

+

5

%

),

6/26/26

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

United

States

595,431

549,286

Waystar

Technologies,

Inc.

,

First

Lien,

Initial

Term

Loan

,

4.457

%

,

(

1-month

USD

LIBOR

+

4

%

),

10/22/26

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

United

States

1,569,587

1,567,625

11,711,639

a

a

a

a

a

a

Health

Care

Technology

0.6%

athenahealth

Group,

Inc.

,

Initial

CME

Term

Loan

,

4

%

,

(

1-month

SOFR

+

3.5

%

),

2/15/29

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

United

States

2,137,681

2,118,977

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

16

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

j

Senior

Floating

Rate

Interests

(continued)

Hotels,

Restaurants

&

Leisure

1.4%

d

24

Hour

Fitness

Worldwide,

Inc.

,

Term

Loan

,

5.983

%

,

PIK,

(

3-month

USD

LIBOR

+

5

%

),

12/29/25

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

United

States

1,177,513

$

602,001

Bally's

Corp.

,

Term

Loan,

B

,

3.75

%

,

(

3-month

USD

LIBOR

+

3.25

%

),

10/02/28

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

United

States

798,000

794,696

Fertitta

Entertainment

LLC

,

Initial

Term

Loan,

B

,

4.5

%

,

(

1-month

PRIME

+

4

%

),

1/27/29

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

United

States

884,797

881,537

Flynn

Restaurant

Group

LP

,

First

Lien,

2021

Term

Loan

,

4.75

%

,

(

1-month

USD

LIBOR

+

4.25

%

),

11/22/28

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

United

States

619,903

613,447

Hilton

Grand

Vacations

Borrower

LLC

,

Initial

Term

Loan

,

3.5

%

,

(

1-month

USD

LIBOR

+

3

%

),

8/02/28

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

United

States

276,389

275,111

IRB

Holding

Corp.

,

2022

Replacement

CME

Term

Loan,

B

,

3.75

%

,

(

3-month

SOFR

+

3

%

),

12/15/27

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

United

States

354,478

352,927

Raptor

Acquisition

Corp.

,

First

Lien,

Term

Loan,

B

,

4.934

%

,

(

3-month

USD

LIBOR

+

4

%

),

11/01/26

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

United

States

549,470

547,583

k,l

Scientific

Games

Corp.

,

CME

Term

Loan

,

TBD,

2/04/29

.........

United

States

507,182

503,287

4,570,589

a

a

a

a

a

a

Household

Durables

0.7%

Astro

One

Acquisition

Corp.

,

First

Lien,

Term

Loan,

B

,

6.506

%

,

(

3-month

USD

LIBOR

+

5.5

%

),

9/15/28

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

United

States

698,250

680,211

k,l

Osmosis

Buyer

Ltd.

,

2022

Refinancing

Term

Loan,

B

,

TBD,

7/31/28

United

States

1,071,429

1,062,895

VC

GB

Holdings

I

Corp.

,

First

Lien,

Initial

Term

Loan

,

4.506

%

,

(

3-month

USD

LIBOR

+

3.5

%

),

7/21/28

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

United

States

636,361

616,815

2,359,921

a

a

a

a

a

a

Insurance

1.1%

Acrisure

LLC

,

First

Lien,

2020

Term

Loan,

3.957%,

(1-month

USD

LIBOR

+

3.5%),

2/15/27

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

United

States

787,940

778,421

First

Lien,

2021-1

Additional

Term

Loan,

4.25%,

(1-month

USD

LIBOR

+

3.75%),

2/15/27

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

United

States

194,674

193,580

First

Lien,

2021-2

Additional

Term

Loan,

4.75%,

(1-month

USD

LIBOR

+

4.25%),

2/15/27

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

United

States

174,388

173,953

Alliant

Holdings

Intermediate

LLC

,

2018

Initial

Term

Loan,

3.707%,

(1-month

USD

LIBOR

+

3.25%),

5/09/25

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

United

States

311,115

308,088

New

Term

Loan,

B4,

4%,

(1-month

USD

LIBOR

+

3.5%),

11/05/27

United

States

498,880

496,421

AssuredPartners,

Inc.

,

2020

Incremental

CME

Term

Loan,

4%,

(1-month

SOFR

+

3.5%),

2/12/27

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

United

States

406,250

402,315

2021

Term

Loan,

4%,

(1-month

USD

LIBOR

+

3.5%),

2/12/27

...

United

States

245,164

242,714

Asurion

LLC

,

Second

Lien,

New

Term

Loan,

B3,

5.707%,

(1-month

USD

LIBOR

+

5.25%),

1/31/28

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

United

States

32,665

32,077

Second

Lien,

New

Term

Loan,

B4,

5.707%,

(1-month

USD

LIBOR

+

5.25%),

1/20/29

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

United

States

1,085,259

1,062,539

3,690,108

a

a

a

a

a

a

Internet

&

Direct

Marketing

Retail

0.5%

MH

Sub

I

LLC

(Micro

Holding

Corp.)

,

First

Lien,

2020

June

New

Term

Loan,

4.75%,

(1-month

USD

LIBOR

+

3.75%),

9/13/24

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

United

States

922,859

914,290

First

Lien,

Amendment

No.

2

Initial

Term

Loan,

3.957%,

(1-month

USD

LIBOR

+

3.5%),

9/13/24

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

United

States

685,347

678,114

1,592,404

a

a

a

a

a

a

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

17

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

j

Senior

Floating

Rate

Interests

(continued)

IT

Services

2.9%

Aptean

Acquiror,

Inc.

,

First

Lien,

Initial

Term

Loan

,

4.707

%

,

(

1-month

USD

LIBOR

+

4.25

%

),

4/23/26

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

United

States

305,443

$

303,207

Aventiv

Technologies

LLC

,

First

Lien,

Initial

Term

Loan

,

5.506

%

,

(

3-month

USD

LIBOR

+

4.5

%

),

11/01/24

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

United

States

1,936,792

1,849,636

Barracuda

Networks,

Inc.

,

First

Lien,

2020

Term

Loan

,

4.733

%

,

(

3-month

USD

LIBOR

+

3.75

%

),

2/12/25

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

United

States

1,092,945

1,089,939

Gainwell

Acquisition

Corp.

,

First

Lien,

Term

Loan,

B

,

5.006

%

,

(

3-month

USD

LIBOR

+

4

%

),

10/01/27

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

United

States

1,752,083

1,752,083

Hunter

Holdco

3

Ltd.

,

First

Lien,

Initial

Dollar

Term

Loan

,

5.018

%

,

(

1-month

USD

LIBOR

+

4.25%;

3-month

USD

LIBOR

+

4.25%

),

8/19/28

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

United

Kingdom

709,670

707,896

Knot

Worldwide,

Inc.

(The)

,

First

Lien,

Amendment

No.

3

CME

Term

Loan

,

4.913

%

,

(

1-month

SOFR

+

4.5

%

),

12/19/25

...........

United

States

395,918

395,176

Peraton

Corp.

,

First

Lien,

Term

Loan,

B

,

4.5

%

,

(

1-month

USD

LIBOR

+

3.75

%

),

2/01/28

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

United

States

1,452,067

1,444,806

Pitney

Bowes,

Inc.

,

Refinancing

Term

Loan,

B

,

4.46

%

,

(

1-month

USD

LIBOR

+

4

%

),

3/17/28

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

United

States

1,782,000

1,755,270

Thrasio

LLC

,

Initial

Term

Loan

,

8.006

%

,

(

3-month

USD

LIBOR

+

7

%

),

12/18/26

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

United

States

347,362

342,152

9,640,165

a

a

a

a

a

a

Leisure

Products

0.3%

Hercules

Achievement,

Inc.

(Varsity

Brands

Holding

Co.,

Inc.)

,

First

Lien,

Initial

Term

Loan

,

4.5

%

,

(

1-month

USD

LIBOR

+

3.5

%

),

12/16/24

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

United

States

492,718

473,677

Motion

Acquisition

Ltd.

,

Term

Loan,

B1,

4.256%,

(3-month

USD

LIBOR

+

3.25%),

11/12/26

United

Kingdom

347,471

342,211

Term

Loan,

B2,

4.256%,

(3-month

USD

LIBOR

+

3.25%),

11/12/26

United

Kingdom

49,536

48,786

864,674

a

a

a

a

a

a

Life

Sciences

Tools

&

Services

0.2%

ICON

plc

,

Term

Loan,

2.75%,

(3-month

USD

LIBOR

+

2.25%),

7/03/28

....

Ireland

415,384

413,957

U.S.

Term

Loan,

2.75%,

(3-month

USD

LIBOR

+

2.25%),

7/03/28

Ireland

103,493

103,138

517,095

a

a

a

a

a

a

Machinery

0.5%

k,l

ASP

Blade

Holdings,

Inc.

,

Initial

Term

Loan

,

TBD,

10/13/28

......

United

States

552,933

546,782

Tiger

Acquisition

LLC

,

First

Lien,

Initial

Term

Loan

,

3.758

%

,

(

3-month

USD

LIBOR

+

3.25

%

),

6/01/28

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

United

States

541,497

521,079

TK

Elevator

Midco

GmbH

,

USD

Term

Loan,

B1

,

4.019

%

,

(

6-month

USD

LIBOR

+

3.5

%

),

7/30/27

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

Germany

711,595

706,261

1,774,122

a

a

a

a

a

a

Media

2.4%

Cengage

Learning,

Inc.

,

First

Lien,

Term

Loan,

B

,

5.75

%

,

(

3-month

USD

LIBOR

+

4.75

%

),

7/14/26

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

United

States

990,841

984,157

Clear

Channel

Outdoor

Holdings,

Inc.

,

Term

Loan,

B

,

3.799

%

,

(

3-month

USD

LIBOR

+

3.5

%

),

8/21/26

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

United

States

590,913

581,866

CSC

Holdings

LLC

,

March

2017

Refinancing

Term

Loan

,

2.647

%

,

(

1-month

USD

LIBOR

+

2.25

%

),

7/17/25

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

United

States

793,610

782,702

Diamond

Sports

Group

LLC

,

First

Lien,

CME

Term

Loan,

9%,

(1-month

SOFR

+

8%),

5/25/26

United

States

415,662

422,793

Second

Lien,

CME

Term

Loan,

3.445%,

(1-month

SOFR

+

3.25%),

8/24/26

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

United

States

903,333

313,064

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

18

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

j

Senior

Floating

Rate

Interests

(continued)

Media

(continued)

McGraw-Hill

Education,

Inc.

,

Initial

Term

Loan

,

5.554

%

,

(

3-month

USD

LIBOR

+

4.75

%

),

7/28/28

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

United

States

1,006,068

$

997,109

Radiate

Holdco

LLC

,

Amendment

No.

6

Term

Loan

,

4

%

,

(

1-month

USD

LIBOR

+

3.25

%

),

9/25/26

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

United

States

1,779,888

1,767,322

Sinclair

Television

Group,

Inc.

,

Term

Loan,

B

,

2.71

%

,

(

1-month

USD

LIBOR

+

2.25

%

),

1/03/24

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

United

States

383,106

377,934

Univision

Communications,

Inc.

,

First

Lien,

2021

Replacement

Converted

Term

Loan,

4%,

(1-month

USD

LIBOR

+

3.25%),

3/15/26

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

United

States

975,760

971,696

First

Lien,

Initial

Term

Loan,

B,

4%,

(1-month

USD

LIBOR

+

3.25%),

1/31/29

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

United

States

342,391

339,538

Virgin

Media

Bristol

LLC

,

Term

Loan,

Q

,

3.647

%

,

(

1-month

USD

LIBOR

+

3.25

%

),

1/31/29

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

United

States

262,949

261,758

7,799,939

a

a

a

a

a

a

Metals

&

Mining

0.2%

U.S.

Silica

Co.

,

Term

Loan

,

5

%

,

(

1-month

USD

LIBOR

+

4

%

),

5/01/25

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

United

States

590,766

582,274

Multiline

Retail

0.1%

Franchise

Group,

Inc.

,

First

Lien,

Initial

Term

Loan

,

5.5

%

,

(

3-month

USD

LIBOR

+

4.75

%

),

3/10/26

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

United

States

302,261

302,261

Personal

Products

0.6%

Conair

Holdings

LLC

,

First

Lien,

Initial

Term

Loan

,

4.756

%

,

(

3-month

USD

LIBOR

+

3.75

%

),

5/17/28

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

United

States

670,126

660,577

Coty,

Inc.

,

USD

Term

Loan,

B

,

2.56

%

,

(

1-month

USD

LIBOR

+

2.25

%

),

4/07/25

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

United

States

444,218

434,112

Sunshine

Luxembourg

VII

SARL

,

Term

Loan,

B3

,

4.756

%

,

(

3-month

USD

LIBOR

+

3.75

%

),

10/01/26

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

Luxembourg

844,886

840,531

1,935,220

a

a

a

a

a

a

Pharmaceuticals

0.7%

Bausch

Health

Cos.,

Inc.

,

Initial

Term

Loan

,

3.209

%

,

(

1-month

USD

LIBOR

+

3

%

),

6/02/25

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

United

States

568,729

565,174

Jazz

Pharmaceuticals

plc

,

Initial

Dollar

Term

Loan

,

4

%

,

(

1-month

USD

LIBOR

+

3.5

%

),

5/05/28

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

United

States

708,929

707,202

Organon

&

Co.

,

Dollar

Term

Loan

,

3.563

%

,

(

3-month

USD

LIBOR

+

3

%

),

6/02/28

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

United

States

768,727

765,845

PetVet

Care

Centers

LLC

,

First

Lien,

2021

First

Lien

Replacement

Term

Loan

,

4.25

%

,

(

1-month

USD

LIBOR

+

3.5

%

),

2/14/25

....

United

States

145,595

145,095

2,183,316

a

a

a

a

a

a

Professional

Services

0.4%

CCRR

Parent,

Inc.

,

First

Lien,

Initial

Term

Loan

,

4.5

%

,

(

3-month

USD

LIBOR

+

3.75

%

),

3/06/28

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

United

States

793,259

790,780

CHG

Healthcare

Services,

Inc.

,

First

Lien,

Initial

Term

Loan

,

4.998

%

,

(

3-month

USD

LIBOR

+

3.75

%

),

9/29/28

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

United

States

428,615

425,401

1,216,181

a

a

a

a

a

a

Road

&

Rail

0.2%

PECF

USS

Intermediate

Holding

III

Corp.

,

Initial

Term

Loan

,

4.758

%

,

(

3-month

USD

LIBOR

+

4.25

%

),

12/15/28

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

United

States

780,210

774,292

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

19

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

j

Senior

Floating

Rate

Interests

(continued)

Software

6.0%

Atlas

Purchaser,

Inc.

,

First

Lien,

Initial

Term

Loan

,

6

%

,

(

3-month

USD

LIBOR

+

5.25

%

),

5/08/28

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

United

States

633,182

$

616,561

Cloudera,

Inc.

,

First

Lien,

Initial

Term

Loan,

4.25%,

(1-month

USD

LIBOR

+

3.75%),

10/08/28

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

United

States

581,818

575,637

Second

Lien,

Initial

Term

Loan,

6.5%,

(1-month

USD

LIBOR

+

6%),

10/08/29

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

United

States

165,289

163,223

Cornerstone

OnDemand,

Inc.

,

First

Lien,

Initial

Term

Loan

,

4.25

%

,

(

1-month

USD

LIBOR

+

3.75

%

),

10/16/28

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

United

States

903,614

896,273

DCert

Buyer,

Inc.

,

First

Lien,

Initial

Term

Loan

,

4.457

%

,

(

1-month

USD

LIBOR

+

4

%

),

10/16/26

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

United

States

1,734,135

1,724,138

ECI

Macola/MAX

Holding

LLC

,

First

Lien,

Initial

Term

Loan

,

4.756

%

,

(

3-month

USD

LIBOR

+

3.75

%

),

11/09/27

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

United

States

626,818

620,550

Epicor

Software

Corp.

,

Term

Loan,

C

,

4

%

,

(

1-month

USD

LIBOR

+

3.25

%

),

7/30/27

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

United

States

663,939

659,520

Genesys

Cloud

Services

Holdings

I

LLC

,

2020

Initial

Dollar

Term

Loan

,

4.909

%

,

(

1-month

USD

LIBOR

+

4

%

),

12/01/27

........

United

States

773,522

773,282

GoTo

Group,

Inc.

,

First

Lien,

Initial

Term

Loan

,

5.218

%

,

(

1-month

USD

LIBOR

+

4.75

%

),

8/31/27

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

United

States

1,637,281

1,611,445

Hyland

Software,

Inc.

,

First

Lien,

2018

Refinancing

Term

Loan

,

4.25

%

,

(

1-month

USD

LIBOR

+

3.5

%

),

7/01/24

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

United

States

1,062,354

1,058,371

Idera,

Inc.

,

First

Lien,

Term

Loan,

B1

,

4.5

%

,

(

3-month

USD

LIBOR

+

3.75

%

),

3/02/28

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

United

States

1,584,417

1,559,066

IGT

Holding

IV

AB

,

Term

Loan,

B2

,

4.506

%

,

(

3-month

USD

LIBOR

+

3.5

%

),

3/31/28

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

Sweden

726,000

721,012

Ivanti

Software,

Inc.

,

First

Lien,

2021

Specified

Refinancing

Term

Loan,

5%,

(3-month

USD

LIBOR

+

4.25%),

12/01/27

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

United

States

796,000

786,547

First

Lien,

First

Amendment

Term

Loan,

4.75%,

(3-month

USD

LIBOR

+

4%),

12/01/27

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

United

States

58,335

57,460

MA

Financeco

LLC

,

Term

Loan,

B4

,

5.25

%

,

(

3-month

USD

LIBOR

+

4.25

%

),

6/05/25

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

United

States

516,627

513,184

McAfee

Corp.

,

CME

Term

Loan,

B1

,

4.5

%

,

(

1-month

SOFR

+

4

%

),

3/01/29

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

United

States

592,742

589,408

Mitchell

International,

Inc.

,

First

Lien,

Initial

Term

Loan

,

4.25

%

,

(

3-month

USD

LIBOR

+

3.75

%

),

10/15/28

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

United

States

990,000

975,546

Polaris

Newco

LLC

,

First

Lien,

Dollar

Term

Loan

,

4.5

%

,

(

3-month

USD

LIBOR

+

4

%

),

6/02/28

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

United

States

2,143,458

2,130,866

Quest

Software

US

Holdings,

Inc.

,

First

Lien,

Initial

Term

Loan

,

4.75

%

,

(

3-month

PRIME

+

4.25

%

),

2/01/29

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

United

States

1,300,000

1,282,430

Sovos

Compliance

LLC

,

First

Lien,

Initial

Term

Loan

,

5

%

,

(

1-month

USD

LIBOR

+

4.5

%

),

8/11/28

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

United

States

539,905

539,907

UKG,

Inc.

,

Second

Lien,

2021

Incremental

Term

Loan

,

5.75

%

,

(

3-month

USD

LIBOR

+

5.25

%

),

5/03/27

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

United

States

270,096

268,873

Vision

Solutions,

Inc.

(Precisely

Software,

Inc.)

,

First

Lien,

Third

Amendment

Term

Loan

,

4.75

%

,

(

3-month

USD

LIBOR

+

4

%

),

4/24/28

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

United

States

1,469,624

1,456,765

19,580,064

a

a

a

a

a

a

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

20

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

j

Senior

Floating

Rate

Interests

(continued)

Specialty

Retail

2.1%

Evergreen

AcqCo

1

LP

,

Initial

Term

Loan

,

6.25

%

,

(

3-month

USD

LIBOR

+

5.5

%

),

4/26/28

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

United

States

971,250

$

966,394

Great

Outdoors

Group

LLC

,

Term

Loan,

B2

,

4.5

%

,

(

1-month

USD

LIBOR

+

3.75

%

),

3/06/28

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

United

States

1,274,230

1,271,242

k,l

Michaels

Cos.,

Inc.

(The)

,

Term

Loan,

B

,

TBD,

4/15/28

.........

United

States

1,012,849

952,640

Park

River

Holdings,

Inc.

,

First

Lien,

Initial

Term

Loan

,

4

%

,

(

3-month

USD

LIBOR

+

3.25

%

),

12/28/27

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

United

States

657,395

643,954

PetSmart

LLC

,

Initial

Term

Loan

,

4.5

%

,

(

3-month

USD

LIBOR

+

3.75

%

),

2/11/28

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

United

States

515,536

514,570

SRS

Distribution,

Inc.

,

2021

Refinancing

Term

Loan,

4.019%,

(3-month

USD

LIBOR

+

3.5%),

6/02/28

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

United

States

529,788

524,051

Term

Loan,

4%,

(3-month

SOFR

+

3.5%),

6/02/28

...........

United

States

23,864

23,610

Staples,

Inc.

,

2019

Refinancing

New

Term

Loan,

B1

,

5.317

%

,

(

3-month

USD

LIBOR

+

5

%

),

4/16/26

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

United

States

1,252,863

1,186,824

White

Cap

Supply

Holdings

LLC

,

Initial

Closing

Date

Term

Loan

,

4.25

%

,

(

1-month

USD

LIBOR

+

3.75

%

),

10/19/27

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

United

States

395,000

391,461

Woof

Holdings,

Inc.

,

First

Lien,

Initial

Term

Loan

,

4.678

%

,

(

3-month

USD

LIBOR

+

3.75

%

),

12/21/27

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

United

States

529,464

526,155

7,000,901

a

a

a

a

a

a

Technology

Hardware,

Storage

&

Peripherals

0.3%

Electronics

for

Imaging,

Inc.

,

First

Lien,

Initial

Term

Loan

,

5.457

%

,

(

1-month

USD

LIBOR

+

5

%

),

7/23/26

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

United

States

295,602

288,546

Magenta

Buyer

LLC

,

First

Lien,

Initial

Term

Loan

,

5.75

%

,

(

3-month

USD

LIBOR

+

5

%

),

7/27/28

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

United

States

694,713

690,544

979,090

a

a

a

a

a

a

Textiles,

Apparel

&

Luxury

Goods

0.2%

Champ

Acquisition

Corp.

,

First

Lien,

Initial

Term

Loan

,

6.506

%

,

(

6-month

USD

LIBOR

+

5.5

%

),

12/19/25

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

United

States

451,160

448,791

Tory

Burch

LLC

,

Initial

Term

Loan,

B

,

3.5

%

,

(

1-month

USD

LIBOR

+

3

%

),

4/16/28

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

United

States

336,169

327,555

776,346

a

a

a

a

a

a

Transportation

Infrastructure

0.2%

First

Student

Bidco,

Inc.

,

Initial

Term

Loan,

B,

3.983%,

(3-month

USD

LIBOR

+

3%),

7/21/28

United

States

211,179

209,742

Initial

Term

Loan,

C,

3.983%,

(3-month

USD

LIBOR

+

3%),

7/21/28

United

States

78,147

77,615

LaserShip,

Inc.

,

First

Lien,

Initial

Term

Loan

,

5.25

%

,

(

3-month

USD

LIBOR

+

4.5

%

),

5/07/28

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

United

States

465,497

463,945

751,302

a

a

a

a

a

a

Total

Senior

Floating

Rate

Interests

(Cost

$134,265,599)

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

132,716,274

b

Marketplace

Loans

22.0%

Diversified

Financial

Services

22.0%

a

a

a

a

a

a

Total

Marketplace

Loans

(Cost

$73,305,230)

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

72,130,513

Asset-Backed

Securities

12.2%

Capital

Markets

0.0%

†

m

Merrill

Lynch

Mortgage

Investors

Trust

,

2003-OPT1

,

B2

,

FRN

,

4.582

%

,

(

1-month

USD

LIBOR

+

4.125

%

),

7/25/34

.

..........

United

States

33,301

19,973

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

21

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Asset-Backed

Securities

(continued)

Diversified

Financial

Services

12.2%

f,m

AMMC

CLO

22

Ltd.

,

2018-22A

,

C

,

144A,

FRN

,

2.008

%

,

(

3-month

USD

LIBOR

+

1.75

%

),

4/25/31

.

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

United

States

1,500,000

$

1,471,599

f,m

BlueMountain

CLO

XXV

Ltd.

,

2019-25A

,

CR

,

144A,

FRN

,

2.491

%

,

(

3-month

USD

LIBOR

+

2.25

%

),

7/15/36

.

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

United

States

1,500,000

1,488,750

f,m

BlueMountain

CLO

XXVI

Ltd.

,

2019-26A

,

CR

,

144A,

FRN

,

2.454

%

,

(

3-month

USD

LIBOR

+

2.2

%

),

10/20/34

.

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

United

States

2,000,000

1,974,616

f,m

BlueMountain

CLO

XXXI

Ltd.

,

2021-31A

,

D

,

144A,

FRN

,

3.248

%

,

(

3-month

USD

LIBOR

+

3

%

),

4/19/34

.

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

United

States

1,000,000

979,359

f,m

Carlyle

Global

Market

Strategies

CLO

Ltd.

,

2014-1A,

CR2,

144A,

FRN,

2.041%,

(3-month

USD

LIBOR

+

1.8%),

4/17/31

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

United

States

1,500,000

1,460,290

h

2014-1A,

DR,

144A,

FRN,

2.841%,

(3-month

USD

LIBOR

+

2.6%),

4/17/31

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

United

States

2,300,000

2,188,265

f,m

Carlyle

US

CLO

Ltd.

,

2017-4A,

C,

144A,

FRN,

3.041%,

(3-month

USD

LIBOR

+

2.8%),

1/15/30

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

United

States

1,000,000

972,206

2019-1A,

BR,

144A,

FRN,

2.454%,

(3-month

USD

LIBOR

+

2.2%),

4/20/31

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

United

States

1,500,000

1,490,719

f,n

Consumer

Loan

Underlying

Bond

Certificate

Issuer

Trust

I

,

2018-29,

PT,

144A,

FRN,

25.69%,

12/15/43

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

United

States

69,595

67,973

2019-26,

PT,

144A,

FRN,

17.996%,

8/15/44

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

United

States

211,921

207,240

2019-31,

PT,

144A,

FRN,

16.915%,

9/15/44

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

United

States

187,174

181,382

2019-37,

PT,

144A,

FRN,

19.12%,

10/17/44

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

United

States

211,464

204,276

2019-42,

PT,

144A,

FRN,

17.736%,

11/15/44

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

United

States

208,907

203,833

2019-51,

PT,

144A,

FRN,

15.33%,

1/15/45

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

United

States

262,529

256,891

2019-52,

PT,

144A,

FRN,

16.52%,

1/15/45

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

United

States

257,381

253,519

2019-S1,

PT,

144A,

FRN,

14.96%,

4/15/44

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

United

States

121,208

117,000

2019-S2,

PT,

144A,

FRN,

9.456%,

5/16/44

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

United

States

77,142

74,197

2019-S3,

PT,

144A,

FRN,

13.261%,

6/15/44

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

United

States

289,833

281,532

2019-S4,

PT,

144A,

FRN,

11.567%,

8/15/44

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

United

States

165,803

162,350

2019-S5,

PT,

144A,

FRN,

12.828%,

9/15/44

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

United

States

174,276

170,373

2019-S6,

PT,

144A,

FRN,

11.579%,

10/17/44

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

United

States

168,085

162,222

2019-S7,

PT,

144A,

FRN,

11.16%,

12/15/44

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

United

States

149,128

144,839

2019-S8,

PT,

144A,

FRN,

9.765%,

1/15/45

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

United

States

182,667

176,815

2020-2,

PT,

144A,

FRN,

15.67%,

3/15/45

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

United

States

253,602

248,467

2020-7,

PT,

144A,

FRN,

15.955%,

4/17/45

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

United

States

148,862

144,105

f,h,m

Dryden

38

Senior

Loan

Fund

,

2015-38A

,

DR

,

144A,

FRN

,

3.241

%

,

(

3-month

USD

LIBOR

+

3

%

),

7/15/30

.

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

United

States

2,500,000

2,490,016

f,m

Dryden

42

Senior

Loan

Fund

,

h

2016-42A,

CR,

144A,

FRN,

2.291%,

(3-month

USD

LIBOR

+

2.05%),

7/15/30

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

United

States

2,400,000

2,376,189

2016-42A,

DR,

144A,

FRN,

3.171%,

(3-month

USD

LIBOR

+

2.93%),

7/15/30

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

United

States

1,000,000

980,053

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

22

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Asset-Backed

Securities

(continued)

Diversified

Financial

Services

(continued)

f,h,m

Dryden

58

CLO

Ltd.

,

2018-58A

,

C

,

144A,

FRN

,

2.041

%

,

(

3-month

USD

LIBOR

+

1.8

%

),

7/17/31

.

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

United

States

3,000,000

$

2,968,974

f,m

KKR

CLO

20

Ltd.

,

20

,

C

,

144A,

FRN

,

2.191

%

,

(

3-month

USD

LIBOR

+

1.95

%

),

10/16/30

.

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

United

States

1,000,000

988,210

f,m

Madison

Park

Funding

XXXI

Ltd.

,

2018-31A

,

D

,

144A,

FRN

,

3.259

%

,

(

3-month

USD

LIBOR

+

3

%

),

1/23/31

.

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

United

States

1,250,000

1,235,346

f,m

Magnetite

XXII

Ltd.

,

2019-22A

,

DR

,

144A,

FRN

,

3.341

%

,

(

3-month

USD

LIBOR

+

3.1

%

),

4/15/31

.

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

United

States

1,000,000

989,480

m

Morgan

Stanley

ABS

Capital

I,

Inc.

Trust

,

2003-NC10

,

B1

,

FRN

,

5.407

%

,

(

1-month

USD

LIBOR

+

4.95

%

),

10/25/33

.

..........

United

States

270,002

286,440

f,m

Newark

BSL

CLO

1

Ltd.

,

2016-1A

,

CR

,

144A,

FRN

,

3.268

%

,

(

3-month

USD

LIBOR

+

3

%

),

12/21/29

.

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

United

States

1,000,000

991,558

f,m

Octagon

Investment

Partners

32

Ltd.

,

2017-1A

,

CR

,

144A,

FRN

,

2.291

%

,

(

3-month

USD

LIBOR

+

2.05

%

),

7/15/29

.

...........

United

States

1,500,000

1,479,669

f,h,m

Octagon

Investment

Partners

XXII

Ltd.

,

2014-1A

,

CRR

,

144A,

FRN

,

2.159

%

,

(

3-month

USD

LIBOR

+

1.9

%

),

1/22/30

.

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

United

States

6,050,000

5,951,702

f,n

Prosper

Pass-Thru

Trust

III

,

2020-PT1,

A,

144A,

FRN,

8.796%,

3/15/26

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

United

States

153,385

155,041

2020-PT2,

A,

144A,

FRN,

9.444%,

4/15/26

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

United

States

173,127

169,209

2020-PT3,

A,

144A,

FRN,

7.183%,

5/15/26

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

United

States

40,619

39,980

m

Structured

Asset

Investment

Loan

Trust

,

2003-BC2

,

M3

,

FRN

,

5.332

%

,

(

1-month

USD

LIBOR

+

4.875

%

),

4/25/33

.

..........

United

States

13,987

14,956

f,n

Upgrade

Master

Pass-Thru

Trust

,

2019-PT2

,

A

,

144A,

FRN

,

13.732

%

,

2/15/26

.

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

United

States

151,340

153,018

f,m

Voya

CLO

Ltd.

,

h

2014-1A,

BR2,

144A,

FRN,

2.141%,

(3-month

USD

LIBOR

+

1.9%),

4/18/31

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

United

States

1,300,000

1,280,874

2014-1A,

CR2,

144A,

FRN,

3.041%,

(3-month

USD

LIBOR

+

2.8%),

4/18/31

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

United

States

500,000

463,519

h

2016-3A,

CR,

144A,

FRN,

3.491%,

(3-month

USD

LIBOR

+

3.25%),

10/18/31

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

United

States

2,000,000

1,927,008

40,024,060

a

a

a

a

a

a

Total

Asset-Backed

Securities

(Cost

$39,773,687)

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

40,044,033

Commercial

Mortgage-Backed

Securities

0.9%

Diversified

Financial

Services

0.0%

†

n

Commercial

Mortgage

Trust

,

2006-GG7

,

AJ

,

FRN

,

5.61

%

,

7/10/38

.

United

States

194,980

158,582

Thrifts

&

Mortgage

Finance

0.9%

h

Citigroup

Commercial

Mortgage

Trust

,

2015-GC27

,

A5

,

3.137

%

,

2/10/48

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

United

States

1,520,000

1,510,647

h

JPMBB

Commercial

Mortgage

Securities

Trust

,

2015-C28

,

A4

,

3.227

%

,

10/15/48

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

United

States

1,410,000

1,401,288

2,911,935

a

a

a

a

a

a

Total

Commercial

Mortgage-Backed

Securities

(Cost

$3,164,689)

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

3,070,517

Mortgage-Backed

Securities

13.8%

Federal

Home

Loan

Mortgage

Corp.

(FHLMC)

Fixed

Rate

2.2%

g

FHLMC

Gold

Pools,

15

Year,

5%,

12/01/23

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

United

States

40,447

41,295

g

FHLMC

Gold

Pools,

20

Year,

6.5%,

8/01/27

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

United

States

87,811

94,412

g

FHLMC

Gold

Pools,

30

Year,

3.5%,

3/01/45

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

United

States

11,158

11,355

g

FHLMC

Gold

Pools,

30

Year,

3.5%,

12/01/48

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

United

States

2,084,421

2,106,168

g

FHLMC

Gold

Pools,

30

Year,

4%,

5/01/48

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

United

States

1,545,744

1,590,971

g

FHLMC

Gold

Pools,

30

Year,

6%,

7/01/28

-

11/01/36

...........

United

States

246,101

270,210

g

FHLMC

Gold

Pools,

30

Year,

6.5%,

3/01/38

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

United

States

6,451

6,961

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

23

a

a

Country

Principal

Amount

*

a

Value

a

a

a

a

a

Mortgage-Backed

Securities

(continued)

Federal

Home

Loan

Mortgage

Corp.

(FHLMC)

Fixed

Rate

(continued)

g

FHLMC

Gold

Pools,

30

Year,

7%,

9/01/27

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

United

States

28,097

$

29,492

g

FHLMC

Gold

Pools,

30

Year,

8.5%,

7/01/31

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

United

States

99,861

108,903

g

FHLMC

Pool,

15

Year,

2.5%,

9/01/35

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

United

States

3,184,646

3,153,197

7,412,964

o

Federal

National

Mortgage

Association

(FNMA)

Adjustable

Rate

0.0%

†

g

FNMA,

1.665%

-

1.803%,

(6-month

USD

LIBOR

+/-

MBS

Margin),

6/01/32

-

7/01/34

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

United

States

132,233

132,582

132,582

Federal

National

Mortgage

Association

(FNMA)

Fixed

Rate

11.2%

g

FNMA,

3.5%,

7/01/56

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

United

States

448,806

455,609

g

FNMA,

15

Year,

2%,

9/01/35

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

United

States

1,013,332

985,787

g

FNMA,

15

Year,

3%,

8/01/27

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

United

States

4,260

4,300

g

FNMA,

15

Year,

3.5%,

1/01/26

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

United

States

6,366

6,508

g

FNMA,

20

Year,

4.5%,

5/01/24

-

9/01/29

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

United

States

19,281

19,992

g

FNMA,

30

Year,

2.5%,

9/01/50

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

United

States

4,461,426

4,269,813

g

FNMA,

30

Year,

3%,

10/01/50

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

United

States

3,086,136

3,025,247

g

FNMA,

30

Year,

3.5%,

1/01/45

-

6/01/45

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

United

States

536,124

546,847

g

FNMA,

30

Year,

4%,

11/01/44

-

1/01/48

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

United

States

704,901

730,455

g

FNMA,

30

Year,

4%,

10/01/47

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

United

States

2,285,459

2,359,422

g

FNMA,

30

Year,

4.5%,

3/01/44

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

United

States

626

650

g

FNMA,

30

Year,

5%,

5/01/38

-

7/01/39

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

United

States

174,062

188,450

g

FNMA,

30

Year,

5.5%,

6/01/37

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

United

States

144,307

159,064

g

FNMA,

30

Year,

6%,

4/01/33

-

6/01/38

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

United

States

333,141

371,460

g

FNMA,

30

Year,

6.5%,

8/01/32

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

United

States

56,600

62,220

p

FNMA,

Single-family,

15

Year,

2.5%,

4/25/37

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

United

States

4,580,000

4,526,865

p

FNMA,

Single-family,

30

Year,

3%,

4/25/52

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

United

States

8,130,000

7,953,427

p

FNMA,

Single-family,

30

Year,

3.5%,

4/25/52

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

United

States

10,928,000

10,950,197

36,616,313

Government

National

Mortgage

Association

(GNMA)

Fixed

Rate

0.4%

g

GNMA

I,

Single-family,

30

Year,

6.5%,

6/15/31

-

12/15/33

........

United

States

195,239

209,537

g

GNMA

II,

Single-family,

30

Year,

3.5%,

12/20/49

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

United

States

927,263

934,556

g

GNMA

II,

Single-family,

30

Year,

7%,

1/20/24

-

1/20/29

.........

United

States

12,125

12,985

g

GNMA

II,

Single-family,

30

Year,

8%,

1/20/28

-

10/20/31

........

United

States

49,171

54,467

1,211,545

Total

Mortgage-Backed

Securities

(Cost

$46,886,626)

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

45,373,404

Residential

Mortgage-Backed

Securities

0.9%

Thrifts

&

Mortgage

Finance

0.9%

h,m

FNMA

Connecticut

Avenue

Securities

,

2017-C03,

1M2,

FRN,

3.457%,

(1-month

USD

LIBOR

+

3%),

10/25/29

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

United

States

1,507,936

1,541,045

2017-C05,

1M2,

FRN,

2.657%,

(1-month

USD

LIBOR

+

2.2%),

1/25/30

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

United

States

1,219,724

1,226,860

2,767,905

a

a

a

a

a

a

Total

Residential

Mortgage-Backed

Securities

(Cost

$2,805,678)

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

2,767,905

Total

Long

Term

Investments

(Cost

$460,110,702)

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

445,933,607

a

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

24

See

A

bbreviations

on

page

120

.

Short

Term

Investments

2.9%

a

a

Country

Shares

a

Value

a

a

Money

Market

Funds

2.9%

q,r

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

0.01%

.....

United

States

9,502,359‌

$

9,502,359

Total

Money

Market

Funds

(Cost

$9,502,359)

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

9,502,359

Total

Short

Term

Investments

(Cost

$9,502,359

)

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

9,502,359

a

Total

Investments

(Cost

$469,613,061)

138.7%

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

$455,435,966

Reverse

Repurchase

Agreements

(9.4)%

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

(31,008,432)

Credit

Facility

(25.3)%

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

(83,000,000)

Other

Assets,

less

Liabilities

(4.0)%

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

(13,125,116)

Net

Assets

100.0%

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

$328,302,418

Amount

Borrowed

Payable

s

Reverse

Repurchase

Agreements

(9.4)%

Counterparty

UBS

AG,

0.58%,

4/07/22

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

$1,319,760

$(1,321,546)

Counterparty

UBS

AG,

0.58%,

4/07/22

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

$1,425,456

$(1,427,385)

Counterparty

UBS

AG,

0.6%,

4/07/22

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

$1,340,625

$(1,342,502)

Counterparty

UBS

AG,

0.6%,

4/07/22

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

$1,185,000

$(1,186,659)

Counterparty

UBS

AG,

0.6%,

4/07/22

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

$1,126,125

$(1,127,702)

Counterparty

UBS

AG,

0.6%,

4/07/22

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

$1,074,000

$(1,075,504)

Counterparty

UBS

AG,

0.6%,

4/07/22

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

$1,000,500

$(1,001,901)

Counterparty

UBS

AG,

0.6%,

4/07/22

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

$1,080,000

$(1,081,512)

Counterparty

UBS

AG,

0.6%,

4/07/22

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

$1,383,750

$(1,385,687)

Counterparty

UBS

AG,

0.6%,

4/07/22

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

$1,006,500

$(1,007,909)

Counterparty

UBS

AG,

0.6%,

4/07/22

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

$1,265,250

$(1,267,021)

Counterparty

UBS

AG,

0.9%,

4/07/22

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

$2,035,920

$(2,040,195)

Counterparty

UBS

AG,

0.9%,

4/07/22

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

$2,378,400

$(2,383,395)

Counterparty

UBS

AG,

0.9%,

4/07/22

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

$1,088,425

$(1,090,711)

Counterparty

UBS

AG,

0.9%,

4/07/22

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

$4,815,800

$(4,825,913)

Counterparty

UBS

AG,

0.98%,

4/07/22

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

$1,326,901

$(1,329,935)

Counterparty

UBS

AG,

0.98%,

4/07/22

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

$849,492

$(851,434)

Counterparty

UBS

AG,

1.15%,

4/07/22

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

$1,531,200

$(1,535,309)

Counterparty

UBS

AG,

1.15%,

4/07/22

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

$1,722,240

$(1,726,861)

Counterparty

UBS

AG,

1.15%,

4/07/22

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

$1,994,000

$(1,999,351)

Total

Reverse

Repurchase

Agreements

(Proceeds

$30,949,344)

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

$(31,008,432)

*

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

9

regarding

fair

value

measurements.

c

See

Note

5

regarding

restricted

securities.

d

Income

may

be

received

in

additional

securities

and/or

cash.

e

Perpetual

security

with

no

stated

maturity

date.

f

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

$165,387,794,

representing

50.4%

of

net

assets.

g

A

portion

or

all

of

the

security

is

pledged

as

collateral

in

connection

with

the

Fund’s

revolving

credit

facility.

h

A

portion

or

all

of

the

security

is

designated

as

collateral

for

reverse

repurchase

agreements.

i

Defaulted

security

or

security

for

which

income

has

been

deemed

uncollectible.

j

The

coupon

rate

shown

represents

the

rate

at

period

end.

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

25

At

March

31,

2022,

the

Fund

had

the

following marketplace

loans

outstanding.

k

A

portion

or

all

of

the

security

represents

an

unsettled

loan

commitment.

The

coupon

rate

is

to-be

determined

(TBD)

at

the

time

of

the

settlement

and

will

be

based

upon

a

reference

index/floor

plus

a

spread.

l

A

portion

or

all

of

the

security

purchased

on

a

delayed

delivery

basis.

m

The

coupon

rate

shown

represents

the

rate

inclusive

of

any

caps

or

floors,

if

applicable,

in

effect

at

period

end.

n

Adjustable

rate

security

with

an

interest

rate

that

is

not

based

on

a

published

reference

index

and

spread.

The

rate

is

based

on

the

structure

of

the

agreement

and

current

market

conditions.

The

coupon

rate

shown

represents

the

rate

at

period

end.

o

Adjustable

Rate

Mortgage-Backed

Security

(ARM);

the

rate

shown

is

the

effective

rate

at

period

end.

ARM

rates

are

not

based

on

a

published

reference

rate

and

spread,

but

instead

pass-through

weighted

average

interest

income

inclusive

of

any

caps

or

floors,

if

applicable,

from

the

underlying

mortgage

loans

in

which

the

majority

of

mortgages

pay

interest

based

on

the

index

shown

at

their

designated

reset

dates

plus

a

spread,

less

the

applicable

servicing

and

guaranty

fee

(MBS

margin).

p

Security

purchased

on

a

to-be-announced

(TBA)

basis.

q

See

Note

7

regarding

investments

in

affiliated

management

investment

companies.

r

The

rate

shown

is

the

annualized

seven-day

effective

yield

at

period

end.

s

See

Note

8

regarding

reverse

repurchase

agreements.

Description

Principal

Amount

Value

Marketplace

Loans

-

22.0%

Freedom

Fina

ncial

Asset

Management

LLC

APP-10201276.FP.FTS.B,

5.99%,

8/10/23

.

$

7,779‌

$

7,867‌

APP-10151809.FP.FTS.B,

5.99%,

8/13/23

.

7,198‌

7,283‌

APP-10043511.FP.FTS.B,

5.99%,

9/28/23

.

5,418‌

5,495‌

APP-10670655.FP.FTS.B,

5.99%,

10/08/23

6,380‌

6,460‌

APP-10774277.FP.FTS.B,

5.99%,

10/09/23

6,733‌

3,742‌

APP-10767085.FP.FTS.B,

15.49%,

10/09/23

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

5,533‌

5,582‌

APP-10787443.FP.FTS.B,

5.99%,

10/11/23

7,781‌

7,881‌

APP-10157125.FP.FTS.B,

15.49%,

10/28/23

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

7,061‌

7,156‌

APP-10772251.FP.FTS.B,

14.49%,

11/12/23

2,874‌

2,881‌

APP-10670609.FP.FTS.B,

5.99%,

11/15/23

6,013‌

6,095‌

APP-10780894.FP.FTS.B,

5.99%,

11/15/23

8,820‌

8,943‌

APP-10745537.FP.FTS.B,

5.99%,

11/23/23

7,204‌

7,316‌

APP-10783446.FP.FTS.B,

19.99%,

11/30/23

8,707‌

8,806‌

APP-10823057.FP.FTS.B,

5.99%,

12/12/23

8,881‌

9,014‌

APP-11028232.FP.FTS.B,

5.99%,

12/12/23

10,117‌

10,262‌

APP-11036370.FP.FTS.B,

5.99%,

12/14/23

7,177‌

7,287‌

APP-11333293.FP.FTS.B,

5.99%,

12/14/23

8,547‌

8,674‌

APP-11544786.FP.FTS.B,

5.99%,

12/15/23

10,539‌

10,693‌

APP-11799318.FP.FTS.B,

16.49%,

12/19/23

5,355‌

5,393‌

APP-11605709.FP.FTS.B,

5.99%,

12/21/23

6,607‌

6,711‌

APP-10606104.FP.FTS.B,

5.99%,

12/23/23

6,609‌

6,715‌

APP-11694992.FP.FTS.B,

5.99%,

12/23/23

8,867‌

9,009‌

APP-11767896.FP.FTS.B,

5.99%,

12/24/23

7,577‌

7,701‌

APP-11816519.FP.FTS.B,

22.49%,

12/30/23

6,729‌

6,825‌

APP-12119879.FP.FTS.B,

5.99%,

1/22/24

.

11,040‌

11,225‌

APP-11695018.FP.FTS.B,

15.49%,

2/04/24

10,658‌

10,842‌

APP-11801234.FP.FTS.B,

5.99%,

2/05/24

.

6,914‌

7,025‌

APP-11742645.FP.FTS.B,

13.99%,

2/05/24

26,215‌

26,687‌

APP-11693930.FP.FTS.B,

15.49%,

2/05/24

8,308‌

8,453‌

APP-11442830.FP.FTS.B,

5.99%,

2/06/24

.

11,078‌

11,262‌

APP-11796839.FP.FTS.B,

23.99%,

2/11/24

8,964‌

9,082‌

APP-11799568.FP.FTS.B,

15.49%,

2/12/24

9,795‌

9,980‌

APP-11820006.FP.FTS.B,

5.99%,

2/13/24

.

8,770‌

8,922‌

APP-12543245.FP.FTS.B,

16.49%,

2/15/24

7,584‌

7,662‌

APP-12674457.FP.FTS.B,

5.99%,

2/25/24

.

11,516‌

11,721‌

APP-12675080.FP.FTS.B,

17.49%,

2/25/24

12,884‌

13,071‌

APP-12168376.FP.FTS.B,

5.99%,

3/01/24

.

9,611‌

9,767‌

APP-12544302.FP.FTS.B,

16.49%,

3/01/24

7,500‌

7,646‌

APP-12953164.FP.FTS.B,

5.99%,

3/08/24

.

10,000‌

10,173‌

APP-13032370.FP.FTS.B,

17.24%,

3/11/24

50,000‌

50,995‌

Description

Principal

Amount

Value

Freedom

Financial

Asset

Management

LLC

(continued)

APP-13337202.FP.FTS.B,

5.99%,

3/15/24

.

$

9,980‌

$

10,180‌

APP-13420504.FP.FTS.B,

5.99%,

3/16/24

.

11,999‌

12,239‌

APP-13148703.FP.FTS.B,

17.49%,

3/16/24

14,826‌

15,076‌

APP-13360065.FP.FTS.B,

19.99%,

3/27/24

10,000‌

10,200‌

APP-12439531.FP.FTS.B,

19.49%,

3/29/24

14,473‌

14,703‌

APP-12675641.FP.FTS.B,

5.99%,

3/31/24

.

7,500‌

7,645‌

APP-12873630.FP.FTS.B,

5.99%,

4/03/24

.

10,000‌

10,169‌

APP-12891333.FP.FTS.B,

5.99%,

4/03/24

.

7,500‌

7,629‌

APP-12675611.FP.FTS.B,

15.49%,

4/05/24

11,059‌

11,289‌

APP-12710901.FP.FTS.B,

15.49%,

4/08/24

9,200‌

9,367‌

APP-12608313.FP.FTS.B,

5.99%,

4/10/24

.

7,500‌

7,635‌

APP-12800126.FP.FTS.B,

5.99%,

4/10/24

.

11,999‌

12,219‌

APP-11798739.FP.FTS.B,

5.99%,

4/11/24

.

9,540‌

9,716‌

APP-12486671.FP.FTS.B,

5.99%,

4/12/24

.

11,000‌

11,201‌

APP-13011107.FP.FTS.B,

19.99%,

4/12/24

11,111‌

11,282‌

APP-13038344.FP.FTS.B,

23.99%,

4/12/24

11,500‌

11,632‌

APP-12905173.FP.FTS.B,

5.99%,

4/15/24

.

10,000‌

10,181‌

APP-12933828.FP.FTS.B,

5.99%,

4/15/24

.

9,492‌

9,665‌

APP-12933623.FP.FTS.B,

5.99%,

4/16/24

.

8,740‌

8,905‌

APP-12800813.FP.FTS.B,

15.49%,

4/16/24

13,373‌

13,661‌

APP-12800852.FP.FTS.B,

15.49%,

4/16/24

11,599‌

11,849‌

APP-13059920.FP.FTS.B,

17.99%,

4/16/24

7,500‌

7,670‌

APP-12801588.FP.FTS.B,

5.99%,

4/17/24

.

7,500‌

7,646‌

APP-12246165.FP.FTS.B,

5.99%,

4/18/24

.

8,840‌

9,005‌

APP-12933592.FP.FTS.B,

12.74%,

4/18/24

14,483‌

14,779‌

APP-12933925.FP.FTS.B,

5.99%,

4/23/24

.

8,603‌

8,775‌

APP-12934108.FP.FTS.B,

5.99%,

4/23/24

.

10,609‌

10,821‌

APP-12911251.FP.FTS.B,

5.99%,

4/24/24

.

11,999‌

12,241‌

APP-13026134.FP.FTS.B,

5.99%,

4/24/24

.

12,000‌

12,242‌

APP-13061207.FP.FTS.B,

5.99%,

4/30/24

.

7,821‌

7,983‌

APP-13432810.FP.FTS.B,

5.99%,

5/01/24

.

10,000‌

10,200‌

APP-13433208.FP.FTS.B,

5.99%,

5/01/24

.

8,014‌

8,174‌

APP-13435116.FP.FTS.B,

5.99%,

5/01/24

.

8,000‌

8,160‌

APP-13323350.FP.FTS.B,

16.49%,

5/01/24

9,799‌

9,995‌

APP-13206909.FP.FTS.B,

23.74%,

5/01/24

25,600‌

26,112‌

APP-13323276.FP.FTS.B,

5.99%,

5/05/24

.

8,150‌

8,313‌

APP-13323298.FP.FTS.B,

5.99%,

5/06/24

.

7,500‌

7,650‌

APP-13270610.FP.FTS.B,

5.99%,

5/12/24

.

11,999‌

12,239‌

APP-13337251.FP.FTS.B,

5.99%,

5/13/24

.

11,500‌

11,730‌

APP-13438285.FP.FTS.B,

5.99%,

5/14/24

.

7,500‌

7,650‌

APP-13199267.FP.FTS.B,

5.99%,

5/15/24

.

7,500‌

7,650‌

APP-13301744.FP.FTS.B,

5.99%,

5/15/24

.

8,313‌

8,479‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

26

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Freedom

Financial

Asset

Management

LLC

(continued)

APP-10156971.FP.FTS.B,

14.99%,

8/15/24

$

29,710‌

$

29,977‌

APP-10183391.FP.FTS.B,

16.49%,

8/16/24

15,142‌

15,195‌

APP-10196892.FP.FTS.B,

11.99%,

8/17/24

39,859‌

40,320‌

APP-10157170.FP.FTS.B,

17.99%,

9/17/24

8,448‌

8,447‌

APP-10013721.FP.FTS.B,

25.49%,

9/20/24

6,464‌

6,414‌

APP-10150990.FP.FTS.B,

10.49%,

9/27/24

13,980‌

14,190‌

APP-10561115.FP.FTS.B,

13.99%,

10/08/24

6,920‌

7,000‌

APP-10771919.FP.FTS.B,

10.49%,

10/09/24

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

10,536‌

10,664‌

APP-10775435.FP.FTS.B,

15.49%,

10/09/24

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

24,172‌

24,253‌

APP-10788641.FP.FTS.B,

10.49%,

10/11/24

13,881‌

14,058‌

APP-10940707.FP.FTS.B,

8.49%,

10/15/24

16,297‌

16,484‌

APP-10932376.FP.FTS.B,

19.99%,

10/22/24

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

6,813‌

6,830‌

APP-11037984.FP.FTS.B,

23.99%,

10/25/24

8,943‌

8,937‌

APP-10600138.FP.FTS.B,

10.49%,

10/29/24

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

25,636‌

26,008‌

APP-11023093.FP.FTS.B,

10.49%,

10/30/24

13,174‌

13,366‌

APP-10815186.FP.FTS.B,

13.49%,

10/30/24

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

21,971‌

22,187‌

APP-11036232.FP.FTS.B,

16.99%,

10/30/24

9,283‌

9,361‌

APP-10976531.FP.FTS.B,

19.99%,

10/30/24

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

9,381‌

9,442‌

APP-10580434.FP.FTS.B,

23.99%,

11/04/24

12,544‌

12,308‌

APP-10561394.FP.FTS.B,

12.24%,

11/05/24

11,204‌

11,355‌

APP-10459466.FP.FTS.B,

14.99%,

11/08/24

19,603‌

19,771‌

APP-10692850.FP.FTS.B,

13.24%,

11/12/24

36,381‌

36,858‌

APP-10670951.FP.FTS.B,

17.99%,

11/15/24

22,214‌

22,101‌

APP-10670964.FP.FTS.B,

10.49%,

11/20/24

14,710‌

14,937‌

APP-10385583.FP.FTS.B,

12.24%,

11/22/24

11,065‌

11,235‌

APP-10481821.FP.FTS.B,

23.49%,

11/22/24

9,056‌

9,043‌

APP-11040038.FP.FTS.B,

15.49%,

12/01/24

23,651‌

23,695‌

APP-11018721.FP.FTS.B,

23.99%,

12/01/24

16,169‌

15,907‌

APP-11036258.FP.FTS.B,

23.99%,

12/03/24

7,367‌

7,303‌

APP-10991532.FP.FTS.B,

13.99%,

12/10/24

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

9,865‌

10,016‌

APP-11039981.FP.FTS.B,

12.74%,

12/13/24

13,849‌

14,058‌

APP-11025781.FP.FTS.B,

23.99%,

12/13/24

17,443‌

17,272‌

APP-11029317.FP.FTS.B,

23.99%,

12/13/24

10,570‌

10,551‌

APP-11036112.FP.FTS.B,

16.99%,

12/14/24

6,883‌

6,986‌

APP-10692602.FP.FTS.B,

17.99%,

12/14/24

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

7,962‌

8,034‌

APP-11030753.FP.FTS.B,

23.99%,

12/14/24

14,767‌

14,698‌

APP-11798782.FP.FTS.B,

13.24%,

12/17/24

10,335‌

10,463‌

APP-11720453.FP.FTS.B,

12.24%,

12/22/24

12,079‌

12,262‌

APP-11695111.FP.FTS.B,

11.99%,

12/23/24

21,597‌

21,913‌

APP-11789211.FP.FTS.B,

6.99%,

12/29/24

28,938‌

29,425‌

APP-11821469.FP.FTS.B,

17.49%,

12/30/24

16,886‌

17,078‌

APP-12008571.FP.FTS.B,

16.74%,

1/27/25

27,621‌

27,951‌

APP-12250721.FP.FTS.B,

23.74%,

1/27/25

25,629‌

26,133‌

APP-12250024.FP.FTS.B,

23.99%,

1/27/25

9,600‌

9,709‌

APP-11694729.FP.FTS.B,

15.49%,

2/01/25

13,884‌

14,086‌

APP-11799631.FP.FTS.B,

9.74%,

2/02/25

.

20,805‌

21,166‌

APP-11681871.FP.FTS.B,

23.99%,

2/02/25

16,258‌

16,216‌

APP-11628889.FP.FTS.B,

12.99%,

2/03/25

32,222‌

32,621‌

APP-11750342.FP.FTS.B,

12.24%,

2/05/25

30,666‌

30,972‌

APP-11751212.FP.FTS.B,

13.99%,

2/05/25

19,181‌

19,487‌

Description

Principal

Amount

Value

Freedom

Financial

Asset

Management

LLC

(continued)

APP-11755781.FP.FTS.B,

16.99%,

2/05/25

$

9,135‌

$

9,286‌

APP-11693818.FP.FTS.B,

9.49%,

2/06/25

.

31,499‌

32,038‌

APP-11799362.FP.FTS.B,

9.74%,

2/10/25

.

17,236‌

17,538‌

APP-11811491.FP.FTS.B,

9.74%,

2/10/25

.

17,029‌

17,327‌

APP-11811501.FP.FTS.B,

15.24%,

2/12/25

28,985‌

29,283‌

APP-11444490.FP.FTS.B,

14.99%,

2/13/25

10,086‌

10,269‌

APP-11237904.FP.FTS.B,

11.99%,

2/18/25

17,732‌

17,976‌

APP-12795048.FP.FTS.B,

21.49%,

2/19/25

9,960‌

10,046‌

APP-12840850.FP.FTS.B,

9.49%,

2/21/25

.

21,050‌

21,381‌

APP-12413449.FP.FTS.B,

9.74%,

2/22/25

.

24,830‌

25,226‌

APP-12801527.FP.FTS.B,

11.74%,

2/22/25

19,850‌

20,156‌

APP-12738128.FP.FTS.B,

15.99%,

2/26/25

11,303‌

11,472‌

APP-12801479.FP.FTS.B,

9.49%,

2/27/25

.

32,185‌

32,742‌

APP-12674069.FP.FTS.B,

18.99%,

2/27/25

12,451‌

12,623‌

APP-12675613.FP.FTS.B,

13.49%,

2/28/25

13,132‌

13,353‌

APP-12868734.FP.FTS.B,

17.99%,

2/28/25

7,757‌

7,868‌

APP-12802296.FP.FTS.B,

25.49%,

2/28/25

10,000‌

10,414‌

APP-12780140.FP.FTS.B,

9.74%,

3/01/25

.

12,233‌

12,472‌

APP-12076585.FP.FTS.B,

11.74%,

3/01/25

23,754‌

24,136‌

APP-12882137.FP.FTS.B,

12.49%,

3/01/25

50,000‌

50,975‌

APP-13137200.FP.FTS.B,

17.49%,

3/01/25

23,610‌

24,091‌

APP-12800835.FP.FTS.B,

19.49%,

3/01/25

18,251‌

18,651‌

APP-12185237.FP.FTS.B,

19.99%,

3/01/25

9,926‌

10,015‌

APP-12871940.FP.FTS.B,

8.99%,

3/03/25

.

30,000‌

30,576‌

APP-12175554.FP.FTS.B,

11.99%,

3/03/25

14,693‌

14,940‌

APP-13023000.FP.FTS.B,

23.74%,

3/04/25

25,000‌

25,114‌

APP-13061318.FP.FTS.B,

15.49%,

3/05/25

15,000‌

15,188‌

APP-12139584.FP.FTS.B,

11.99%,

3/06/25

14,201‌

14,453‌

APP-12106191.FP.FTS.B,

7.74%,

3/07/25

.

17,904‌

18,221‌

APP-12953839.FP.FTS.B,

25.49%,

3/08/25

10,525‌

10,813‌

APP-12097231.FP.FTS.B,

9.49%,

3/11/25

.

27,834‌

28,368‌

APP-12139672.FP.FTS.B,

9.74%,

3/11/25

.

17,228‌

17,561‌

APP-12225886.FP.FTS.B,

11.74%,

3/11/25

29,422‌

29,990‌

APP-12188198.FP.FTS.B,

16.99%,

3/11/25

7,383‌

7,532‌

APP-12236101.FP.FTS.B,

20.99%,

3/11/25

14,693‌

14,753‌

APP-12245609.FP.FTS.B,

25.49%,

3/12/25

10,880‌

10,986‌

APP-12934217.FP.FTS.B,

15.99%,

3/15/25

23,479‌

23,949‌

APP-13434461.FP.FTS.B,

9.49%,

3/20/25

.

23,395‌

23,863‌

APP-13301735.FP.FTS.B,

15.49%,

3/20/25

7,500‌

7,650‌

APP-13337421.FP.FTS.B,

11.49%,

3/21/25

13,336‌

13,603‌

APP-13300513.FP.FTS.B,

17.99%,

3/24/25

7,500‌

7,650‌

APP-12776522.FP.FTS.B,

7.74%,

3/28/25

.

18,422‌

18,754‌

APP-13251266.FP.FTS.B,

7.74%,

3/28/25

.

18,000‌

18,360‌

APP-13336638.FP.FTS.B,

9.74%,

3/28/25

.

17,209‌

17,554‌

APP-13381468.FP.FTS.B,

9.49%,

3/29/25

.

40,000‌

40,800‌

APP-12793731.FP.FTS.B,

16.74%,

3/29/25

46,933‌

47,659‌

APP-12675304.FP.FTS.B,

16.99%,

3/29/25

9,300‌

9,456‌

APP-12607544.FP.FTS.B,

23.49%,

3/29/25

10,000‌

10,185‌

APP-13417584.FP.FTS.B,

12.49%,

3/30/25

47,300‌

48,246‌

APP-12798456.FP.FTS.B,

7.49%,

4/01/25

.

22,159‌

22,502‌

APP-12674971.FP.FTS.B,

10.49%,

4/01/25

48,749‌

49,507‌

APP-12675883.FP.FTS.B,

11.99%,

4/01/25

18,874‌

19,160‌

APP-12544478.FP.FTS.B,

18.99%,

4/01/25

10,200‌

10,397‌

APP-12801328.FP.FTS.B,

11.74%,

4/03/25

36,205‌

36,947‌

APP-12885018.FP.FTS.B,

18.99%,

4/03/25

10,000‌

10,217‌

APP-12877021.FP.FTS.B,

25.49%,

4/03/25

7,923‌

7,948‌

APP-12675307.FP.FTS.B,

13.49%,

4/05/25

15,500‌

15,822‌

APP-12786233.FP.FTS.B,

15.99%,

4/05/25

22,500‌

22,735‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

27

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Freedom

Financial

Asset

Management

LLC

(continued)

APP-12785793.FP.FTS.B,

11.74%,

4/06/25

$

38,731‌

$

39,344‌

APP-12675330.FP.FTS.B,

9.74%,

4/07/25

.

17,862‌

18,239‌

APP-12797301.FP.FTS.B,

19.99%,

4/07/25

11,865‌

11,987‌

APP-10692548.FP.FTS.B,

9.74%,

4/08/25

.

12,744‌

13,016‌

APP-12673950.FP.FTS.B,

9.74%,

4/08/25

.

12,740‌

13,012‌

APP-12990000.FP.FTS.B,

23.99%,

4/09/25

16,000‌

16,125‌

APP-11605986.FP.FTS.B,

7.74%,

4/10/25

.

19,501‌

19,924‌

APP-12990178.FP.FTS.B,

17.74%,

4/10/25

20,800‌

21,007‌

APP-12666916.FP.FTS.B,

18.99%,

4/10/25

9,996‌

10,236‌

APP-12774363.FP.FTS.B,

18.99%,

4/10/25

15,500‌

15,874‌

APP-12975635.FP.FTS.B,

18.99%,

4/10/25

18,000‌

18,451‌

APP-13028127.FP.FTS.B,

21.49%,

4/10/25

44,000‌

44,399‌

APP-12795850.FP.FTS.B,

23.74%,

4/10/25

20,000‌

20,512‌

APP-13021046.FP.FTS.B,

23.99%,

4/10/25

17,000‌

17,144‌

APP-08960612.FP.FTS.B,

9.74%,

4/11/25

.

15,799‌

16,115‌

APP-12779922.FP.FTS.B,

13.99%,

4/11/25

7,971‌

8,126‌

APP-12803339.FP.FTS.B,

18.74%,

4/11/25

43,382‌

44,520‌

APP-12855841.FP.FTS.B,

23.99%,

4/11/25

10,000‌

10,108‌

APP-12800907.FP.FTS.B,

9.74%,

4/12/25

.

13,789‌

14,100‌

APP-12674201.FP.FTS.B,

15.49%,

4/12/25

12,127‌

12,415‌

APP-13051006.FP.FTS.B,

15.99%,

4/12/25

19,999‌

20,250‌

APP-13048540.FP.FTS.B,

9.49%,

4/15/25

.

29,642‌

30,166‌

APP-12801587.FP.FTS.B,

13.24%,

4/15/25

11,082‌

11,312‌

APP-12800747.FP.FTS.B,

13.99%,

4/15/25

25,460‌

25,961‌

APP-12884337.FP.FTS.B,

16.99%,

4/15/25

10,000‌

10,205‌

APP-12886570.FP.FTS.B,

17.49%,

4/15/25

16,407‌

16,611‌

APP-12842698.FP.FTS.B,

17.99%,

4/15/25

15,800‌

16,063‌

APP-12869824.FP.FTS.B,

23.99%,

4/15/25

10,000‌

10,123‌

APP-13026280.FP.FTS.B,

23.99%,

4/15/25

15,000‌

15,481‌

APP-12888880.FP.FTS.B,

15.74%,

4/16/25

30,000‌

30,493‌

APP-12876367.FP.FTS.B,

16.99%,

4/16/25

10,000‌

10,210‌

APP-12887943.FP.FTS.B,

17.99%,

4/16/25

10,000‌

10,182‌

APP-12876531.FP.FTS.B,

23.99%,

4/16/25

10,000‌

10,140‌

APP-12801580.FP.FTS.B,

9.74%,

4/17/25

.

12,066‌

12,354‌

APP-13061907.FP.FTS.B,

14.49%,

4/17/25

20,000‌

20,308‌

APP-12883201.FP.FTS.B,

15.49%,

4/17/25

4,113‌

4,144‌

APP-12884862.FP.FTS.B,

15.49%,

4/17/25

7,386‌

7,542‌

APP-12767903.FP.FTS.B,

25.49%,

4/17/25

9,500‌

9,820‌

APP-13048345.FP.FTS.B,

7.74%,

4/18/25

.

15,000‌

15,330‌

APP-12934120.FP.FTS.B,

16.99%,

4/18/25

9,984‌

10,184‌

APP-13060301.FP.FTS.B,

9.49%,

4/20/25

.

21,351‌

21,756‌

APP-13044683.FP.FTS.B,

12.49%,

4/20/25

50,000‌

51,151‌

APP-13023846.FP.FTS.B,

25.49%,

4/20/25

9,400‌

9,736‌

APP-12931531.FP.FTS.B,

21.49%,

4/21/25

8,700‌

8,851‌

APP-13165810.FP.FTS.B,

11.99%,

4/25/25

15,283‌

15,598‌

APP-13161529.FP.FTS.B,

9.49%,

4/30/25

.

40,000‌

40,866‌

APP-12932780.FP.FTS.B,

9.74%,

4/30/25

.

13,794‌

14,143‌

APP-10941111.FP.FTS.B,

9.49%,

5/01/25

.

28,000‌

28,613‌

APP-13432575.FP.FTS.B,

16.99%,

5/01/25

12,240‌

12,485‌

APP-13412691.FP.FTS.B,

17.99%,

5/01/25

19,989‌

20,389‌

APP-13427697.FP.FTS.B,

18.99%,

5/01/25

14,000‌

14,280‌

APP-13432774.FP.FTS.B,

21.49%,

5/01/25

7,500‌

7,650‌

APP-13433532.FP.FTS.B,

21.49%,

5/01/25

9,000‌

9,180‌

APP-13151525.FP.FTS.B,

25.49%,

5/01/25

10,000‌

10,433‌

APP-13315909.FP.FTS.B,

25.49%,

5/01/25

8,000‌

8,160‌

APP-13431511.FP.FTS.B,

9.74%,

5/04/25

.

13,720‌

13,994‌

APP-13352228.FP.FTS.B,

25.49%,

5/04/25

10,000‌

10,200‌

APP-13416512.FP.FTS.B,

9.49%,

5/05/25

.

40,000‌

40,800‌

Description

Principal

Amount

Value

Freedom

Financial

Asset

Management

LLC

(continued)

APP-11237706.FP.FTS.B,

16.49%,

5/09/25

$

16,140‌

$

16,463‌

APP-13199149.FP.FTS.B,

9.74%,

5/10/25

.

13,699‌

13,973‌

APP-13408706.FP.FTS.B,

12.99%,

5/13/25

26,313‌

26,839‌

APP-13423519.FP.FTS.B,

23.99%,

5/13/25

15,000‌

15,300‌

APP-13389626.FP.FTS.B,

25.49%,

5/13/25

10,000‌

10,200‌

APP-13333579.FP.FTS.B,

10.49%,

5/14/25

43,664‌

44,537‌

APP-13335711.FP.FTS.B,

14.49%,

5/14/25

16,308‌

16,634‌

APP-13336703.FP.FTS.B,

14.49%,

5/14/25

14,131‌

14,413‌

APP-13337154.FP.FTS.B,

14.49%,

5/14/25

20,650‌

21,063‌

APP-13442439.FP.FTS.B,

15.99%,

5/14/25

25,000‌

25,500‌

APP-13435964.FP.FTS.B,

18.99%,

5/14/25

12,000‌

12,240‌

APP-13370970.FP.FTS.B,

23.99%,

5/14/25

9,300‌

9,486‌

APP-13432220.FP.FTS.B,

9.74%,

5/15/25

.

16,448‌

16,777‌

APP-13437525.FP.FTS.B,

19.49%,

5/15/25

16,000‌

16,320‌

APP-10141048.FP.FTS.B,

15.49%,

8/14/25

20,422‌

20,660‌

APP-10561160.FP.FTS.B,

18.99%,

9/13/25

18,885‌

18,854‌

APP-10565690.FP.FTS.B,

16.99%,

9/15/25

12,218‌

12,310‌

APP-10551332.FP.FTS.B,

17.49%,

9/18/25

8,806‌

8,913‌

APP-10551426.FP.FTS.B,

10.99%,

9/21/25

22,382‌

22,687‌

APP-10771557.FP.FTS.B,

13.24%,

10/05/25

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

13,735‌

13,894‌

APP-10682615.FP.FTS.B,

10.99%,

10/08/25

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

17,704‌

17,979‌

APP-10760780.FP.FTS.B,

12.49%,

10/08/25

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

41,363‌

41,958‌

APP-10671065.FP.FTS.B,

18.99%,

10/09/25

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

9,616‌

9,692‌

APP-10752759.FP.FTS.B,

18.99%,

10/17/25

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

24,171‌

24,324‌

APP-10524105.FP.FTS.B,

17.49%,

10/21/25

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

18,077‌

18,237‌

APP-10624823.FP.FTS.B,

17.49%,

10/26/25

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

9,992‌

10,124‌

APP-11026485.FP.FTS.B,

12.49%,

10/29/25

45,803‌

46,503‌

APP-10617769.FP.FTS.B,

17.49%,

10/30/25

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

21,615‌

21,860‌

APP-10561482.FP.FTS.B,

16.99%,

11/03/25

22,490‌

22,462‌

APP-10580212.FP.FTS.B,

18.49%,

11/03/25

15,429‌

15,609‌

APP-10578189.FP.FTS.B,

10.99%,

11/04/25

26,367‌

26,799‌

APP-10551146.FP.FTS.B,

13.74%,

11/04/25

29,113‌

29,588‌

APP-10561236.FP.FTS.B,

15.99%,

11/04/25

29,712‌

30,163‌

APP-10571038.FP.FTS.B,

10.99%,

11/07/25

13,810‌

14,028‌

APP-10282886.FP.FTS.B,

14.49%,

11/09/25

46,262‌

47,015‌

APP-10627143.FP.FTS.B,

16.99%,

11/09/25

12,144‌

12,257‌

APP-09776133.FP.FTS.B,

13.24%,

11/10/25

20,439‌

20,711‌

APP-10777722.FP.FTS.B,

16.49%,

11/15/25

6,878‌

6,901‌

APP-10671041.FP.FTS.B,

16.49%,

11/16/25

20,826‌

21,040‌

APP-10758194.FP.FTS.B,

18.99%,

11/19/25

12,101‌

12,204‌

APP-10703763.FP.FTS.B,

14.49%,

11/20/25

21,483‌

21,739‌

APP-10692756.FP.FTS.B,

19.49%,

11/20/25

14,915‌

15,051‌

APP-10727609.FP.FTS.B,

17.99%,

11/22/25

11,174‌

11,308‌

APP-10692670.FP.FTS.B,

18.49%,

11/22/25

9,324‌

9,450‌

APP-10785211.FP.FTS.B,

13.99%,

11/23/25

9,237‌

9,409‌

APP-10776590.FP.FTS.B,

18.49%,

11/23/25

18,210‌

18,439‌

APP-10745958.FP.FTS.B,

8.99%,

11/30/25

12,598‌

12,800‌

APP-11026549.FP.FTS.B,

16.99%,

12/01/25

14,840‌

14,920‌

APP-11031081.FP.FTS.B,

15.99%,

12/03/25

18,779‌

18,906‌

APP-11008674.FP.FTS.B,

10.99%,

12/05/25

19,595‌

19,889‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

28

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Freedom

Financial

Asset

Management

LLC

(continued)

APP-11041391.FP.FTS.B,

11.49%,

12/10/25

$

35,754‌

$

36,344‌

APP-10932240.FP.FTS.B,

13.99%,

12/10/25

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

9,785‌

9,965‌

APP-11039564.FP.FTS.B,

10.99%,

12/12/25

28,058‌

28,535‌

APP-11034532.FP.FTS.B,

8.99%,

12/13/25

28,715‌

29,199‌

APP-11034609.FP.FTS.B,

13.99%,

12/13/25

28,212‌

28,659‌

APP-11020942.FP.FTS.B,

16.49%,

12/13/25

29,132‌

29,460‌

APP-10941172.FP.FTS.B,

10.99%,

12/14/25

24,020‌

24,442‌

APP-10293581.FP.FTS.B,

11.49%,

12/14/25

33,721‌

34,318‌

APP-10823322.FP.FTS.B,

16.49%,

12/14/25

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

16,050‌

16,210‌

APP-10856578.FP.FTS.B,

18.49%,

12/14/25

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

9,484‌

9,602‌

APP-11701384.FP.FTS.B,

18.49%,

12/15/25

7,139‌

7,206‌

APP-11823260.FP.FTS.B,

11.99%,

12/16/25

12,399‌

12,559‌

APP-11609719.FP.FTS.B,

17.99%,

12/19/25

40,052‌

40,512‌

APP-11799274.FP.FTS.B,

16.74%,

12/22/25

29,830‌

30,166‌

APP-11694008.FP.FTS.B,

10.24%,

12/23/25

13,290‌

13,514‌

APP-11810931.FP.FTS.B,

17.99%,

12/30/25

19,412‌

19,707‌

APP-12050720.FP.FTS.B,

18.99%,

1/16/26

9,649‌

9,735‌

APP-12180264.FP.FTS.B,

10.24%,

1/26/26

13,714‌

13,958‌

APP-12231617.FP.FTS.B,

16.99%,

1/26/26

21,863‌

22,195‌

APP-12244001.FP.FTS.B,

13.24%,

1/27/26

9,673‌

9,848‌

APP-11694088.FP.FTS.B,

17.74%,

2/01/26

48,722‌

49,218‌

APP-11740763.FP.FTS.B,

13.99%,

2/04/26

21,880‌

22,149‌

APP-11798624.FP.FTS.B,

17.99%,

2/04/26

19,453‌

19,619‌

APP-11822517.FP.FTS.B,

9.99%,

2/05/26

.

32,586‌

33,145‌

APP-11764476.FP.FTS.B,

13.24%,

2/05/26

9,891‌

10,089‌

APP-11746987.FP.FTS.B,

18.49%,

2/05/26

20,715‌

20,862‌

APP-11753189.FP.FTS.B,

18.74%,

2/05/26

22,479‌

22,572‌

APP-11722574.FP.FTS.B,

20.49%,

2/05/26

39,143‌

39,388‌

APP-11754629.FP.FTS.B,

12.24%,

2/06/26

38,859‌

39,580‌

APP-11799299.FP.FTS.B,

16.99%,

2/11/26

16,708‌

16,938‌

APP-11817911.FP.FTS.B,

18.74%,

2/13/26

19,557‌

19,747‌

APP-12779750.FP.FTS.B,

16.74%,

2/16/26

22,803‌

23,055‌

APP-12675083.FP.FTS.B,

13.99%,

2/25/26

13,057‌

13,263‌

APP-12887499.FP.FTS.B,

19.49%,

2/25/26

9,129‌

9,263‌

APP-12780048.FP.FTS.B,

8.24%,

2/28/26

.

18,870‌

19,221‌

APP-12543851.FP.FTS.B,

12.74%,

3/01/26

28,141‌

28,497‌

APP-12934173.FP.FTS.B,

10.24%,

3/08/26

18,399‌

18,716‌

APP-12244619.FP.FTS.B,

15.74%,

3/09/26

49,474‌

50,463‌

APP-10903724.FP.FTS.B,

9.99%,

3/12/26

.

34,900‌

35,612‌

APP-12253162.FP.FTS.B,

19.99%,

3/12/26

16,892‌

17,135‌

APP-12176269.FP.FTS.B,

16.49%,

3/13/26

24,744‌

25,075‌

APP-13161478.FP.FTS.B,

18.74%,

3/17/26

22,093‌

22,535‌

APP-13385202.FP.FTS.B,

24.99%,

3/19/26

7,500‌

7,650‌

APP-12675358.FP.FTS.B,

11.99%,

3/28/26

12,651‌

12,871‌

APP-11877668.FP.FTS.B,

16.49%,

3/28/26

24,571‌

24,950‌

APP-11210641.FP.FTS.B,

15.24%,

3/29/26

33,106‌

33,661‌

APP-12787007.FP.FTS.B,

16.49%,

3/29/26

20,931‌

21,264‌

APP-12777585.FP.FTS.B,

19.49%,

3/29/26

11,824‌

12,007‌

APP-13414992.FP.FTS.B,

9.99%,

3/30/26

.

29,500‌

30,090‌

APP-13301849.FP.FTS.B,

16.74%,

3/30/26

21,685‌

22,119‌

APP-12803304.FP.FTS.B,

18.24%,

3/31/26

30,000‌

30,579‌

APP-12840855.FP.FTS.B,

18.49%,

4/01/26

18,822‌

19,032‌

APP-12779873.FP.FTS.B,

9.49%,

4/03/26

.

31,000‌

31,531‌

APP-12886380.FP.FTS.B,

9.99%,

4/03/26

.

33,000‌

33,565‌

APP-12801520.FP.FTS.B,

18.74%,

4/03/26

23,499‌

23,694‌

Description

Principal

Amount

Value

Freedom

Financial

Asset

Management

LLC

(continued)

APP-12889924.FP.FTS.B,

18.74%,

4/03/26

$

25,000‌

$

25,185‌

APP-12796721.FP.FTS.B,

14.74%,

4/08/26

41,638‌

42,373‌

APP-12299000.FP.FTS.B,

15.99%,

4/08/26

13,500‌

13,682‌

APP-12744909.FP.FTS.B,

10.24%,

4/09/26

23,034‌

23,533‌

APP-12762134.FP.FTS.B,

20.49%,

4/09/26

50,000‌

51,199‌

APP-12993588.FP.FTS.B,

20.99%,

4/09/26

9,500‌

9,621‌

APP-12675383.FP.FTS.B,

12.24%,

4/10/26

23,997‌

24,531‌

APP-12679150.FP.FTS.B,

12.99%,

4/10/26

47,000‌

48,050‌

APP-12787408.FP.FTS.B,

14.99%,

4/10/26

20,000‌

20,370‌

APP-12799632.FP.FTS.B,

15.99%,

4/10/26

27,788‌

28,217‌

APP-12786604.FP.FTS.B,

16.24%,

4/10/26

32,000‌

32,409‌

APP-12775377.FP.FTS.B,

17.49%,

4/10/26

33,774‌

34,109‌

APP-12991443.FP.FTS.B,

24.99%,

4/10/26

10,000‌

10,108‌

APP-12779696.FP.FTS.B,

10.99%,

4/11/26

49,455‌

50,557‌

APP-12795661.FP.FTS.B,

13.99%,

4/11/26

9,262‌

9,447‌

APP-12544256.FP.FTS.B,

14.74%,

4/11/26

36,015‌

36,538‌

APP-12414665.FP.FTS.B,

17.49%,

4/11/26

11,578‌

11,802‌

APP-12792270.FP.FTS.B,

17.99%,

4/11/26

20,000‌

20,487‌

APP-13059570.FP.FTS.B,

8.24%,

4/12/26

.

16,000‌

16,323‌

APP-11694989.FP.FTS.B,

9.99%,

4/12/26

.

20,886‌

21,472‌

APP-13048169.FP.FTS.B,

10.24%,

4/12/26

14,811‌

15,064‌

APP-13050999.FP.FTS.B,

16.74%,

4/12/26

32,814‌

33,250‌

APP-12771099.FP.FTS.B,

17.99%,

4/12/26

16,000‌

16,192‌

APP-13052113.FP.FTS.B,

19.99%,

4/12/26

12,000‌

12,125‌

APP-12880532.FP.FTS.B,

10.24%,

4/15/26

15,000‌

15,306‌

APP-12933660.FP.FTS.B,

12.99%,

4/15/26

20,401‌

20,783‌

APP-13021207.FP.FTS.B,

13.99%,

4/15/26

24,000‌

24,408‌

APP-12933884.FP.FTS.B,

14.99%,

4/15/26

20,983‌

21,380‌

APP-12874320.FP.FTS.B,

16.49%,

4/15/26

11,800‌

12,018‌

APP-12800863.FP.FTS.B,

17.49%,

4/15/26

15,717‌

15,952‌

APP-12744377.FP.FTS.B,

20.99%,

4/15/26

7,500‌

7,632‌

APP-12886960.FP.FTS.B,

22.49%,

4/15/26

9,200‌

9,471‌

APP-12885550.FP.FTS.B,

9.99%,

4/16/26

.

20,630‌

21,055‌

APP-12856249.FP.FTS.B,

12.49%,

4/16/26

14,841‌

15,153‌

APP-13068343.FP.FTS.B,

12.74%,

4/16/26

32,000‌

32,699‌

APP-13144758.FP.FTS.B,

16.74%,

4/16/26

23,497‌

23,842‌

APP-13155578.FP.FTS.B,

12.74%,

4/17/26

26,100‌

26,576‌

APP-12858657.FP.FTS.B,

12.99%,

4/17/26

44,506‌

45,466‌

APP-13115033.FP.FTS.B,

19.49%,

4/17/26

10,000‌

10,255‌

APP-12982603.FP.FTS.B,

12.74%,

4/18/26

26,313‌

26,885‌

APP-13017972.FP.FTS.B,

20.49%,

4/20/26

15,000‌

15,258‌

APP-12911306.FP.FTS.B,

7.99%,

4/22/26

.

40,000‌

40,818‌

APP-13014947.FP.FTS.B,

14.99%,

4/23/26

23,115‌

23,572‌

APP-13018436.FP.FTS.B,

24.99%,

4/24/26

11,500‌

11,741‌

APP-12859987.FP.FTS.B,

14.74%,

4/26/26

30,000‌

30,849‌

APP-13060307.FP.FTS.B,

16.99%,

4/28/26

17,318‌

17,699‌

APP-12949437.FP.FTS.B,

21.99%,

4/30/26

17,250‌

17,637‌

APP-13423683.FP.FTS.B,

9.99%,

5/01/26

.

27,500‌

28,050‌

APP-13441795.FP.FTS.B,

12.74%,

5/01/26

30,523‌

31,134‌

APP-13396926.FP.FTS.B,

13.74%,

5/01/26

36,500‌

37,230‌

APP-13439922.FP.FTS.B,

16.99%,

5/01/26

16,000‌

16,320‌

APP-13433785.FP.FTS.B,

18.49%,

5/01/26

10,000‌

10,200‌

APP-13439491.FP.FTS.B,

18.49%,

5/01/26

22,800‌

23,256‌

APP-13428663.FP.FTS.B,

19.49%,

5/01/26

16,600‌

16,932‌

APP-13431847.FP.FTS.B,

24.99%,

5/01/26

10,000‌

10,200‌

APP-13385444.FP.FTS.B,

19.49%,

5/02/26

14,999‌

15,299‌

APP-13431225.FP.FTS.B,

16.99%,

5/04/26

16,800‌

17,136‌

APP-13205486.FP.FTS.B,

8.99%,

5/08/26

.

45,643‌

46,556‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

29

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Freedom

Financial

Asset

Management

LLC

(continued)

APP-13429984.FP.FTS.B,

20.99%,

5/09/26

$

7,500‌

$

7,650‌

APP-13429002.FP.FTS.B,

8.24%,

5/10/26

.

17,999‌

18,359‌

APP-13386894.FP.FTS.B,

7.99%,

5/14/26

.

25,000‌

25,500‌

APP-13441691.FP.FTS.B,

17.99%,

5/14/26

20,629‌

21,042‌

APP-13431194.FP.FTS.B,

18.49%,

5/14/26

22,000‌

22,440‌

APP-13434799.FP.FTS.B,

21.74%,

5/15/26

28,500‌

29,070‌

APP-13443671.FP.FTS.B,

24.99%,

5/15/26

7,500‌

7,650‌

APP-10195758.FP.FTS.B,

25.49%,

8/10/26

9,930‌

6,217‌

APP-10179113.FP.FTS.B,

12.49%,

8/15/26

31,878‌

32,282‌

APP-10116903.FP.FTS.B,

14.24%,

8/15/26

22,881‌

23,142‌

APP-10063830.FP.FTS.B,

15.99%,

8/16/26

46,890‌

47,430‌

APP-10194215.FP.FTS.B,

14.24%,

8/17/26

10,252‌

10,285‌

APP-10196744.FP.FTS.B,

17.99%,

8/17/26

28,629‌

28,714‌

APP-10105795.FP.FTS.B,

23.49%,

8/17/26

21,190‌

21,027‌

APP-10557980.FP.FTS.B,

19.99%,

9/05/26

13,923‌

13,807‌

APP-10060652.FP.FTS.B,

11.99%,

9/12/26

12,216‌

12,359‌

APP-10571945.FP.FTS.B,

11.24%,

9/15/26

46,048‌

46,615‌

APP-10622378.FP.FTS.B,

13.24%,

9/15/26

46,093‌

46,550‌

APP-10173551.FP.FTS.B,

20.99%,

9/20/26

14,523‌

14,443‌

APP-10575217.FP.FTS.B,

18.99%,

9/21/26

46,808‌

47,031‌

APP-10198193.FP.FTS.B,

15.49%,

9/25/26

45,890‌

46,527‌

APP-10188481.FP.FTS.B,

20.49%,

9/25/26

21,794‌

21,862‌

APP-10135684.FP.FTS.B,

17.49%,

9/28/26

29,259‌

29,713‌

APP-10139262.FP.FTS.B,

18.99%,

9/28/26

19,012‌

19,144‌

APP-10190160.FP.FTS.B,

18.99%,

9/28/26

9,783‌

9,869‌

APP-10184490.FP.FTS.B,

19.99%,

9/28/26

9,152‌

9,218‌

APP-10148097.FP.FTS.B,

11.24%,

9/29/26

41,117‌

41,813‌

APP-10202521.FP.FTS.B,

21.49%,

9/30/26

14,025‌

14,052‌

APP-10762836.FP.FTS.B,

15.49%,

10/03/26

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

46,921‌

47,320‌

APP-10731731.FP.FTS.B,

17.49%,

10/06/26

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

40,000‌

4,036‌

APP-10771042.FP.FTS.B,

17.49%,

10/07/26

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

15,896‌

15,902‌

APP-10756612.FP.FTS.B,

16.99%,

10/09/26

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

17,810‌

17,982‌

APP-10770224.FP.FTS.B,

17.49%,

10/09/26

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

28,312‌

28,567‌

APP-10769538.FP.FTS.B,

17.99%,

10/09/26

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

25,782‌

25,815‌

APP-10767341.FP.FTS.B,

18.99%,

10/09/26

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

9,576‌

5,373‌

APP-10774159.FP.FTS.B,

20.49%,

10/09/26

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

17,908‌

17,785‌

APP-10926865.FP.FTS.B,

11.99%,

10/15/26

16,393‌

16,556‌

APP-11037126.FP.FTS.B,

17.99%,

10/18/26

10,128‌

10,191‌

APP-11034210.FP.FTS.B,

22.49%,

10/19/26

11,319‌

11,243‌

APP-10546509.FP.FTS.B,

14.24%,

10/21/26

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

16,441‌

16,659‌

APP-10515203.FP.FTS.B,

16.99%,

10/21/26

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

16,776‌

16,966‌

APP-10412146.FP.FTS.B,

20.49%,

10/21/26

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

23,420‌

23,440‌

APP-10579955.FP.FTS.B,

18.99%,

10/22/26

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

17,689‌

17,746‌

APP-10558616.FP.FTS.B,

20.99%,

10/23/26

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

26,499‌

26,468‌

APP-10610237.FP.FTS.B,

11.99%,

10/25/26

12,929‌

13,106‌

Description

Principal

Amount

Value

Freedom

Financial

Asset

Management

LLC

(continued)

APP-10083650.FP.FTS.B,

12.49%,

10/26/26

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

$

36,990‌

$

37,505‌

APP-10620721.FP.FTS.B,

17.99%,

10/26/26

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

9,855‌

9,946‌

APP-10583794.FP.FTS.B,

17.49%,

10/28/26

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

14,060‌

14,183‌

APP-10482503.FP.FTS.B,

17.99%,

10/28/26

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

7,605‌

7,669‌

APP-11040439.FP.FTS.B,

25.49%,

10/28/26

9,525‌

9,511‌

APP-10607213.FP.FTS.B,

16.49%,

10/29/26

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

14,648‌

14,835‌

APP-11015661.FP.FTS.B,

16.99%,

10/29/26

23,106‌

23,381‌

APP-11029842.FP.FTS.B,

11.99%,

10/30/26

29,032‌

29,462‌

APP-11019733.FP.FTS.B,

13.24%,

10/30/26

47,621‌

48,259‌

APP-11029798.FP.FTS.B,

17.49%,

10/30/26

18,885‌

19,031‌

APP-11036737.FP.FTS.B,

18.99%,

10/30/26

9,583‌

9,667‌

APP-10547265.FP.FTS.B,

22.49%,

10/31/26

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

28,735‌

28,449‌

APP-10567055.FP.FTS.B,

13.24%,

11/01/26

47,145‌

47,850‌

APP-10597275.FP.FTS.B,

14.49%,

11/01/26

10,375‌

10,494‌

APP-10213777.FP.FTS.B,

17.49%,

11/01/26

16,103‌

16,101‌

APP-10582415.FP.FTS.B,

13.24%,

11/02/26

47,164‌

47,885‌

APP-10561574.FP.FTS.B,

14.74%,

11/02/26

26,204‌

26,572‌

APP-10569042.FP.FTS.B,

19.99%,

11/03/26

14,526‌

14,424‌

APP-10539195.FP.FTS.B,

11.99%,

11/04/26

14,125‌

14,345‌

APP-10590862.FP.FTS.B,

11.99%,

11/05/26

18,177‌

18,436‌

APP-08435977.FP.FTS.B,

12.49%,

11/05/26

37,719‌

38,325‌

APP-10599539.FP.FTS.B,

13.24%,

11/05/26

43,810‌

44,440‌

APP-10551512.FP.FTS.B,

17.99%,

11/05/26

21,039‌

21,118‌

APP-10618906.FP.FTS.B,

19.49%,

11/05/26

40,830‌

13,090‌

APP-10552003.FP.FTS.B,

20.49%,

11/05/26

19,346‌

19,236‌

APP-10581805.FP.FTS.B,

21.99%,

11/05/26

9,715‌

5,751‌

APP-10625361.FP.FTS.B,

11.99%,

11/07/26

17,979‌

18,246‌

APP-10453183.FP.FTS.B,

17.49%,

11/07/26

38,014‌

38,474‌

APP-10551248.FP.FTS.B,

16.99%,

11/08/26

21,997‌

22,272‌

APP-10626687.FP.FTS.B,

20.49%,

11/08/26

21,505‌

21,466‌

APP-10623552.FP.FTS.B,

18.99%,

11/09/26

23,849‌

23,890‌

APP-10607416.FP.FTS.B,

19.99%,

11/09/26

12,902‌

12,837‌

APP-10612832.FP.FTS.B,

20.99%,

11/09/26

38,257‌

38,069‌

APP-10770659.FP.FTS.B,

21.49%,

11/10/26

20,736‌

20,569‌

APP-10781246.FP.FTS.B,

14.24%,

11/15/26

15,027‌

15,227‌

APP-10773777.FP.FTS.B,

16.99%,

11/15/26

18,921‌

19,153‌

APP-10776520.FP.FTS.B,

20.49%,

11/15/26

23,876‌

23,911‌

APP-10399972.FP.FTS.B,

11.99%,

11/16/26

27,050‌

27,457‌

APP-10692390.FP.FTS.B,

16.49%,

11/16/26

14,703‌

14,892‌

APP-10787763.FP.FTS.B,

21.99%,

11/16/26

23,596‌

23,481‌

APP-10783279.FP.FTS.B,

14.99%,

11/17/26

14,065‌

14,112‌

APP-10681978.FP.FTS.B,

23.49%,

11/19/26

47,899‌

47,875‌

APP-10694161.FP.FTS.B,

15.49%,

11/20/26

3,999‌

3,988‌

APP-10789938.FP.FTS.B,

18.99%,

11/20/26

25,697‌

25,720‌

APP-10780121.FP.FTS.B,

11.99%,

11/21/26

18,778‌

19,091‌

APP-10779675.FP.FTS.B,

21.49%,

11/21/26

16,161‌

16,169‌

APP-10684831.FP.FTS.B,

11.99%,

11/22/26

14,862‌

15,115‌

APP-10756900.FP.FTS.B,

16.99%,

11/22/26

18,990‌

19,119‌

APP-10770156.FP.FTS.B,

16.99%,

11/22/26

17,091‌

17,356‌

APP-10773902.FP.FTS.B,

18.99%,

11/22/26

8,546‌

8,621‌

APP-10769831.FP.FTS.B,

19.99%,

11/22/26

15,043‌

15,091‌

APP-10760354.FP.FTS.B,

11.99%,

11/23/26

18,819‌

19,145‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

30

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Freedom

Financial

Asset

Management

LLC

(continued)

APP-10508033.FP.FTS.B,

17.49%,

11/23/26

$

29,469‌

$

29,943‌

APP-10780937.FP.FTS.B,

16.49%,

11/24/26

7,502‌

7,636‌

APP-10683512.FP.FTS.B,

22.99%,

11/25/26

38,460‌

38,595‌

APP-11035733.FP.FTS.B,

17.49%,

12/02/26

29,255‌

29,517‌

APP-10991025.FP.FTS.B,

19.49%,

12/05/26

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

12,856‌

12,834‌

APP-11761943.FP.FTS.B,

13.99%,

12/07/26

43,095‌

43,484‌

APP-10623318.FP.FTS.B,

23.49%,

12/09/26

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

22,113‌

21,943‌

APP-10885683.FP.FTS.B,

18.99%,

12/13/26

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

17,254‌

17,345‌

APP-10997848.FP.FTS.B,

20.49%,

12/13/26

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

19,328‌

19,322‌

APP-11035422.FP.FTS.B,

20.49%,

12/13/26

17,105‌

17,100‌

APP-11035966.FP.FTS.B,

21.99%,

12/13/26

7,835‌

7,861‌

APP-11013908.FP.FTS.B,

22.49%,

12/13/26

8,773‌

8,741‌

APP-10916888.FP.FTS.B,

11.99%,

12/14/26

15,171‌

15,429‌

APP-11025771.FP.FTS.B,

11.99%,

12/14/26

24,331‌

24,744‌

APP-10156884.FP.FTS.B,

14.74%,

12/14/26

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

27,909‌

28,367‌

APP-10839290.FP.FTS.B,

16.99%,

12/14/26

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

16,841‌

16,931‌

APP-10969694.FP.FTS.B,

19.49%,

12/14/26

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

47,699‌

47,862‌

APP-10157173.FP.FTS.B,

20.49%,

12/14/26

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

16,977‌

16,982‌

APP-11007128.FP.FTS.B,

22.99%,

12/14/26

16,115‌

16,140‌

APP-11033966.FP.FTS.B,

22.99%,

12/14/26

14,557‌

14,529‌

APP-11743320.FP.FTS.B,

13.24%,

12/17/26

20,238‌

20,507‌

APP-11605894.FP.FTS.B,

11.24%,

12/21/26

16,367‌

16,619‌

APP-11737338.FP.FTS.B,

13.24%,

12/22/26

28,898‌

29,335‌

APP-11755185.FP.FTS.B,

10.99%,

12/23/26

28,846‌

29,313‌

APP-11751486.FP.FTS.B,

11.24%,

12/23/26

18,286‌

18,591‌

APP-09447197.FP.FTS.B,

13.49%,

12/23/26

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

14,644‌

14,867‌

APP-11662515.FP.FTS.B,

14.24%,

12/23/26

13,718‌

13,942‌

APP-09645128.FP.FTS.B,

15.49%,

12/23/26

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

48,322‌

49,086‌

APP-11609592.FP.FTS.B,

14.74%,

12/24/26

38,579‌

39,130‌

APP-11791488.FP.FTS.B,

10.99%,

12/29/26

38,450‌

39,098‌

APP-11788646.FP.FTS.B,

15.24%,

12/29/26

36,875‌

37,332‌

APP-11824760.FP.FTS.B,

18.24%,

12/29/26

38,679‌

39,122‌

APP-11822223.FP.FTS.B,

10.99%,

12/30/26

20,829‌

21,186‌

APP-11806677.FP.FTS.B,

11.74%,

12/30/26

40,607‌

41,303‌

APP-11807833.FP.FTS.B,

13.24%,

12/30/26

34,003‌

34,569‌

APP-11815677.FP.FTS.B,

13.74%,

12/30/26

25,893‌

26,321‌

APP-11820229.FP.FTS.B,

17.49%,

12/30/26

15,469‌

15,734‌

APP-11800117.FP.FTS.B,

19.99%,

12/30/26

14,431‌

14,582‌

APP-11810505.FP.FTS.B,

21.24%,

12/30/26

23,707‌

23,887‌

APP-11804177.FP.FTS.B,

21.99%,

12/30/26

30,246‌

30,496‌

APP-11011081.FP.FTS.B,

23.49%,

1/14/27

6,157‌

6,060‌

APP-12216140.FP.FTS.B,

11.74%,

1/25/27

48,700‌

49,526‌

APP-11753872.FP.FTS.B,

13.24%,

1/25/27

22,181‌

22,555‌

APP-12235988.FP.FTS.B,

18.24%,

1/25/27

34,894‌

35,467‌

APP-12234684.FP.FTS.B,

16.74%,

1/26/27

48,852‌

49,639‌

APP-12251446.FP.FTS.B,

13.74%,

1/27/27

11,452‌

11,654‌

APP-11694427.FP.FTS.B,

16.49%,

1/27/27

13,129‌

13,302‌

APP-12235863.FP.FTS.B,

17.49%,

1/27/27

24,743‌

25,218‌

Description

Principal

Amount

Value

Freedom

Financial

Asset

Management

LLC

(continued)

APP-12242133.FP.FTS.B,

22.99%,

1/27/27

$

14,955‌

$

15,249‌

APP-11654600.FP.FTS.B,

10.49%,

1/28/27

38,502‌

39,201‌

APP-11752574.FP.FTS.B,

18.24%,

1/28/27

48,527‌

49,148‌

APP-12243752.FP.FTS.B,

19.99%,

1/28/27

17,121‌

17,345‌

APP-11704828.FP.FTS.B,

17.49%,

1/31/27

11,741‌

11,897‌

APP-11687955.FP.FTS.B,

12.49%,

2/01/27

39,128‌

39,794‌

APP-11716631.FP.FTS.B,

15.49%,

2/02/27

46,112‌

46,894‌

APP-11762185.FP.FTS.B,

18.99%,

2/02/27

14,751‌

14,864‌

APP-11799569.FP.FTS.B,

19.99%,

2/02/27

10,641‌

10,714‌

APP-11730595.FP.FTS.B,

11.99%,

2/04/27

25,538‌

25,989‌

APP-11678946.FP.FTS.B,

14.49%,

2/04/27

15,696‌

15,947‌

APP-11689702.FP.FTS.B,

10.49%,

2/05/27

38,834‌

39,487‌

APP-11750662.FP.FTS.B,

12.99%,

2/05/27

13,143‌

13,373‌

APP-11748155.FP.FTS.B,

14.24%,

2/05/27

34,150‌

34,706‌

APP-11730402.FP.FTS.B,

15.99%,

2/05/27

11,100‌

11,287‌

APP-11693799.FP.FTS.B,

16.99%,

2/05/27

14,777‌

14,906‌

APP-11737819.FP.FTS.B,

17.49%,

2/05/27

20,668‌

20,811‌

APP-11750215.FP.FTS.B,

18.24%,

2/05/27

34,800‌

11,421‌

APP-11693943.FP.FTS.B,

10.99%,

2/06/27

36,131‌

36,782‌

APP-11673308.FP.FTS.B,

17.49%,

2/06/27

33,246‌

33,675‌

APP-11771449.FP.FTS.B,

9.74%,

2/10/27

.

48,818‌

49,694‌

APP-11799619.FP.FTS.B,

17.99%,

2/11/27

22,446‌

22,606‌

APP-11806403.FP.FTS.B,

19.99%,

2/11/27

20,702‌

20,863‌

APP-11443313.FP.FTS.B,

9.99%,

2/12/27

.

25,177‌

25,644‌

APP-11694094.FP.FTS.B,

11.24%,

2/12/27

13,902‌

14,165‌

APP-11796213.FP.FTS.B,

11.24%,

2/12/27

34,145‌

34,762‌

APP-11801268.FP.FTS.B,

11.24%,

2/12/27

24,458‌

24,900‌

APP-11816991.FP.FTS.B,

16.24%,

2/12/27

29,492‌

30,035‌

APP-11822710.FP.FTS.B,

16.49%,

2/12/27

15,062‌

15,341‌

APP-11799428.FP.FTS.B,

19.99%,

2/12/27

27,472‌

27,767‌

APP-11813343.FP.FTS.B,

11.74%,

2/13/27

48,959‌

49,912‌

APP-11804818.FP.FTS.B,

14.99%,

2/13/27

19,647‌

19,898‌

APP-11790590.FP.FTS.B,

17.74%,

2/13/27

29,503‌

29,811‌

APP-11814239.FP.FTS.B,

17.74%,

2/13/27

38,412‌

38,724‌

APP-12801776.FP.FTS.B,

18.49%,

2/15/27

25,138‌

25,328‌

APP-12796607.FP.FTS.B,

17.74%,

2/16/27

32,368‌

32,615‌

APP-12770843.FP.FTS.B,

18.24%,

2/17/27

39,319‌

39,663‌

APP-12797866.FP.FTS.B,

19.99%,

2/17/27

13,752‌

13,848‌

APP-12779435.FP.FTS.B,

10.49%,

2/18/27

30,737‌

31,185‌

APP-12543838.FP.FTS.B,

15.49%,

2/18/27

28,748‌

29,153‌

APP-12799283.FP.FTS.B,

18.99%,

2/18/27

25,963‌

26,195‌

APP-12784633.FP.FTS.B,

22.99%,

2/21/27

17,238‌

17,374‌

APP-12677509.FP.FTS.B,

8.49%,

2/22/27

.

31,090‌

31,600‌

APP-12595724.FP.FTS.B,

25.49%,

2/22/27

7,412‌

7,470‌

APP-12686049.FP.FTS.B,

19.99%,

2/23/27

14,792‌

14,955‌

APP-12792566.FP.FTS.B,

16.49%,

2/25/27

15,181‌

15,409‌

APP-12793802.FP.FTS.B,

16.74%,

2/25/27

42,000‌

42,879‌

APP-12778481.FP.FTS.B,

17.24%,

2/25/27

39,473‌

40,007‌

APP-12769457.FP.FTS.B,

17.99%,

2/25/27

19,739‌

19,981‌

APP-12709469.FP.FTS.B,

19.99%,

2/25/27

14,849‌

15,033‌

APP-12883181.FP.FTS.B,

8.99%,

2/28/27

.

34,546‌

35,191‌

APP-12819064.FP.FTS.B,

10.99%,

2/28/27

40,000‌

40,770‌

APP-12226459.FP.FTS.B,

19.99%,

2/28/27

19,595‌

19,829‌

APP-12793590.FP.FTS.B,

19.99%,

2/28/27

22,320‌

23,086‌

APP-12998431.FP.FTS.B,

19.99%,

2/28/27

16,500‌

16,769‌

APP-10482182.FP.FTS.B,

23.74%,

2/28/27

26,588‌

27,013‌

APP-13022008.FP.FTS.B,

10.99%,

3/01/27

38,000‌

38,683‌

APP-12800786.FP.FTS.B,

11.24%,

3/01/27

20,516‌

20,836‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

31

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Freedom

Financial

Asset

Management

LLC

(continued)

APP-13018059.FP.FTS.B,

12.99%,

3/01/27

$

12,000‌

$

12,213‌

APP-12814994.FP.FTS.B,

13.74%,

3/01/27

10,000‌

10,160‌

APP-12846368.FP.FTS.B,

19.99%,

3/01/27

20,000‌

20,138‌

APP-12932776.FP.FTS.B,

16.49%,

3/02/27

12,881‌

13,020‌

APP-12869957.FP.FTS.B,

25.49%,

3/02/27

10,000‌

10,220‌

APP-12859823.FP.FTS.B,

17.99%,

3/03/27

10,000‌

10,152‌

APP-12243437.FP.FTS.B,

11.24%,

3/04/27

31,655‌

32,206‌

APP-13044112.FP.FTS.B,

9.74%,

3/05/27

.

50,000‌

50,756‌

APP-12244716.FP.FTS.B,

19.99%,

3/05/27

24,691‌

24,806‌

APP-12116704.FP.FTS.B,

11.74%,

3/06/27

44,753‌

45,599‌

APP-12253592.FP.FTS.B,

15.74%,

3/07/27

10,448‌

10,652‌

APP-12234254.FP.FTS.B,

11.24%,

3/10/27

15,389‌

15,697‌

APP-12228505.FP.FTS.B,

17.99%,

3/10/27

22,594‌

22,894‌

APP-12213150.FP.FTS.B,

18.49%,

3/10/27

12,234‌

12,416‌

APP-12234998.FP.FTS.B,

18.74%,

3/10/27

48,793‌

49,527‌

APP-12231685.FP.FTS.B,

19.74%,

3/10/27

40,000‌

40,567‌

APP-12243221.FP.FTS.B,

8.49%,

3/11/27

.

29,685‌

30,257‌

APP-12233502.FP.FTS.B,

16.49%,

3/11/27

24,931‌

25,443‌

APP-13043521.FP.FTS.B,

16.74%,

3/11/27

34,500‌

34,930‌

APP-12232207.FP.FTS.B,

18.99%,

3/11/27

17,305‌

17,576‌

APP-12247713.FP.FTS.B,

10.49%,

3/12/27

31,576‌

15,594‌

APP-12249171.FP.FTS.B,

13.49%,

3/12/27

17,905‌

18,278‌

APP-12174046.FP.FTS.B,

17.49%,

3/12/27

1,502‌

1,500‌

APP-12254593.FP.FTS.B,

17.49%,

3/12/27

26,380‌

26,823‌

APP-12250129.FP.FTS.B,

17.74%,

3/12/27

31,079‌

31,522‌

APP-12042791.FP.FTS.B,

18.74%,

3/12/27

50,000‌

50,816‌

APP-12910444.FP.FTS.B,

19.99%,

3/12/27

31,399‌

31,708‌

APP-12139430.FP.FTS.B,

17.49%,

3/13/27

26,714‌

27,178‌

APP-12132131.FP.FTS.B,

19.49%,

3/13/27

20,836‌

21,077‌

APP-13060467.FP.FTS.B,

11.74%,

3/15/27

50,000‌

50,882‌

APP-13153459.FP.FTS.B,

15.49%,

3/15/27

29,000‌

29,450‌

APP-13155858.FP.FTS.B,

10.99%,

3/16/27

21,884‌

22,348‌

APP-13442368.FP.FTS.B,

11.49%,

3/16/27

16,808‌

17,144‌

APP-13061057.FP.FTS.B,

13.49%,

3/16/27

16,889‌

17,187‌

APP-13093148.FP.FTS.B,

19.74%,

3/16/27

40,000‌

40,576‌

APP-13253640.FP.FTS.B,

11.24%,

3/20/27

16,000‌

16,320‌

APP-13438480.FP.FTS.B,

15.49%,

3/21/27

14,500‌

14,790‌

APP-13416800.FP.FTS.B,

16.24%,

3/22/27

35,359‌

36,067‌

APP-13323349.FP.FTS.B,

16.49%,

3/25/27

14,580‌

14,872‌

APP-13430153.FP.FTS.B,

20.49%,

3/25/27

19,276‌

19,661‌

APP-13207096.FP.FTS.B,

19.49%,

3/26/27

18,000‌

18,360‌

APP-13345325.FP.FTS.B,

19.99%,

3/26/27

28,000‌

28,560‌

APP-12758882.FP.FTS.B,

13.24%,

3/27/27

29,608‌

30,097‌

APP-12782877.FP.FTS.B,

8.49%,

3/28/27

.

29,580‌

30,109‌

APP-12799003.FP.FTS.B,

10.99%,

3/28/27

19,734‌

20,078‌

APP-12544474.FP.FTS.B,

14.24%,

3/28/27

36,265‌

36,864‌

APP-12778979.FP.FTS.B,

16.24%,

3/28/27

29,640‌

30,083‌

APP-12781429.FP.FTS.B,

17.74%,

3/28/27

35,444‌

35,952‌

APP-12771953.FP.FTS.B,

18.49%,

3/28/27

20,265‌

20,559‌

APP-13375770.FP.FTS.B,

19.24%,

3/28/27

21,000‌

21,420‌

APP-13370208.FP.FTS.B,

19.74%,

3/28/27

30,000‌

30,600‌

APP-12776325.FP.FTS.B,

19.99%,

3/28/27

24,721‌

25,055‌

APP-12675415.FP.FTS.B,

20.24%,

3/28/27

41,909‌

42,531‌

APP-12758093.FP.FTS.B,

8.99%,

3/29/27

.

19,743‌

20,099‌

APP-12767372.FP.FTS.B,

10.99%,

3/29/27

20,195‌

20,554‌

APP-12779388.FP.FTS.B,

10.99%,

3/29/27

39,480‌

40,181‌

APP-12791753.FP.FTS.B,

10.99%,

3/29/27

26,649‌

27,122‌

APP-12784176.FP.FTS.B,

11.24%,

3/29/27

35,000‌

35,792‌

Description

Principal

Amount

Value

Freedom

Financial

Asset

Management

LLC

(continued)

APP-12798277.FP.FTS.B,

13.24%,

3/29/27

$

22,222‌

$

22,606‌

APP-12795625.FP.FTS.B,

13.49%,

3/29/27

19,557‌

19,894‌

APP-12674361.FP.FTS.B,

15.24%,

3/29/27

37,636‌

38,230‌

APP-12800135.FP.FTS.B,

15.74%,

3/29/27

42,850‌

43,651‌

APP-12732901.FP.FTS.B,

16.49%,

3/29/27

27,000‌

27,488‌

APP-12802958.FP.FTS.B,

16.49%,

3/29/27

25,000‌

25,467‌

APP-13402497.FP.FTS.B,

16.49%,

3/29/27

20,000‌

20,400‌

APP-12281515.FP.FTS.B,

17.49%,

3/29/27

15,129‌

15,363‌

APP-12802206.FP.FTS.B,

17.74%,

3/29/27

49,442‌

50,206‌

APP-13389764.FP.FTS.B,

17.74%,

3/29/27

30,000‌

30,600‌

APP-12796083.FP.FTS.B,

18.49%,

3/29/27

27,693‌

28,089‌

APP-12794031.FP.FTS.B,

18.99%,

3/29/27

16,600‌

17,084‌

APP-12801049.FP.FTS.B,

18.99%,

3/29/27

10,693‌

10,856‌

APP-12585741.FP.FTS.B,

19.99%,

3/29/27

11,873‌

12,040‌

APP-12784383.FP.FTS.B,

19.99%,

3/29/27

7,420‌

7,531‌

APP-12785988.FP.FTS.B,

19.99%,

3/29/27

25,723‌

26,097‌

APP-13251661.FP.FTS.B,

20.24%,

3/29/27

27,000‌

27,540‌

APP-12795571.FP.FTS.B,

22.49%,

3/29/27

35,639‌

36,121‌

APP-12798313.FP.FTS.B,

22.49%,

3/29/27

36,431‌

36,919‌

APP-13009028.FP.FTS.B,

10.99%,

3/30/27

24,315‌

24,801‌

APP-12577391.FP.FTS.B,

11.74%,

3/30/27

49,377‌

50,265‌

APP-13055453.FP.FTS.B,

13.24%,

3/30/27

35,000‌

35,700‌

APP-13421220.FP.FTS.B,

14.49%,

3/30/27

21,000‌

21,420‌

APP-13403231.FP.FTS.B,

16.74%,

3/30/27

32,000‌

32,640‌

APP-13418445.FP.FTS.B,

17.74%,

3/30/27

50,000‌

51,000‌

APP-13416410.FP.FTS.B,

18.49%,

3/30/27

12,000‌

12,240‌

APP-13413205.FP.FTS.B,

22.99%,

3/30/27

14,000‌

14,280‌

APP-13405408.FP.FTS.B,

23.24%,

3/30/27

20,401‌

20,809‌

APP-12674154.FP.FTS.B,

14.99%,

3/31/27

19,258‌

19,591‌

APP-12638350.FP.FTS.B,

13.24%,

4/01/27

25,000‌

25,382‌

APP-12674905.FP.FTS.B,

13.24%,

4/01/27

39,060‌

39,658‌

APP-12840175.FP.FTS.B,

15.49%,

4/01/27

12,000‌

12,131‌

APP-12761107.FP.FTS.B,

16.49%,

4/01/27

23,487‌

23,665‌

APP-12542914.FP.FTS.B,

20.49%,

4/01/27

13,420‌

13,684‌

APP-12674748.FP.FTS.B,

13.99%,

4/02/27

49,995‌

50,775‌

APP-12787387.FP.FTS.B,

16.49%,

4/02/27

15,000‌

15,222‌

APP-12880580.FP.FTS.B,

10.99%,

4/03/27

10,078‌

10,155‌

APP-12882995.FP.FTS.B,

10.99%,

4/03/27

40,000‌

40,799‌

APP-12883050.FP.FTS.B,

11.24%,

4/03/27

36,838‌

37,435‌

APP-12867499.FP.FTS.B,

13.74%,

4/03/27

10,000‌

10,167‌

APP-12872712.FP.FTS.B,

16.49%,

4/03/27

14,805‌

15,030‌

APP-12887758.FP.FTS.B,

16.49%,

4/03/27

22,000‌

22,335‌

APP-12885123.FP.FTS.B,

18.24%,

4/03/27

40,000‌

40,429‌

APP-12890485.FP.FTS.B,

18.99%,

4/03/27

14,700‌

15,020‌

APP-12888148.FP.FTS.B,

21.49%,

4/03/27

15,718‌

15,822‌

APP-12883177.FP.FTS.B,

21.99%,

4/03/27

8,400‌

8,479‌

APP-12862659.FP.FTS.B,

23.24%,

4/03/27

20,000‌

20,460‌

APP-12880695.FP.FTS.B,

25.49%,

4/03/27

10,000‌

10,229‌

APP-12889429.FP.FTS.B,

18.99%,

4/04/27

16,000‌

16,356‌

APP-12857742.FP.FTS.B,

18.74%,

4/05/27

48,425‌

48,993‌

APP-12784441.FP.FTS.B,

20.49%,

4/05/27

26,313‌

26,887‌

APP-12811031.FP.FTS.B,

20.99%,

4/05/27

19,000‌

19,148‌

APP-12802041.FP.FTS.B,

13.99%,

4/06/27

49,918‌

50,773‌

APP-11924087.FP.FTS.B,

13.49%,

4/07/27

17,688‌

17,997‌

APP-12757809.FP.FTS.B,

14.49%,

4/07/27

14,151‌

14,385‌

APP-12801750.FP.FTS.B,

18.99%,

4/07/27

16,000‌

16,359‌

APP-12984273.FP.FTS.B,

8.99%,

4/08/27

.

40,000‌

40,892‌

APP-12804826.FP.FTS.B,

19.99%,

4/08/27

7,500‌

7,591‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

32

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Freedom

Financial

Asset

Management

LLC

(continued)

APP-12762968.FP.FTS.B,

23.24%,

4/08/27

$

20,000‌

$

20,478‌

APP-12700449.FP.FTS.B,

24.99%,

4/09/27

50,000‌

50,420‌

APP-12736035.FP.FTS.B,

8.99%,

4/10/27

.

26,316‌

26,804‌

APP-12875152.FP.FTS.B,

8.99%,

4/10/27

.

40,000‌

40,833‌

APP-12758120.FP.FTS.B,

10.99%,

4/10/27

26,313‌

26,859‌

APP-13018537.FP.FTS.B,

10.99%,

4/10/27

25,000‌

25,518‌

APP-12679617.FP.FTS.B,

11.24%,

4/10/27

40,000‌

40,727‌

APP-12795960.FP.FTS.B,

13.24%,

4/10/27

25,000‌

25,462‌

APP-12905263.FP.FTS.B,

14.49%,

4/10/27

20,000‌

20,430‌

APP-12413477.FP.FTS.B,

15.49%,

4/10/27

12,000‌

12,163‌

APP-12637418.FP.FTS.B,

16.49%,

4/10/27

24,000‌

24,432‌

APP-12639393.FP.FTS.B,

16.49%,

4/10/27

25,000‌

25,450‌

APP-12779233.FP.FTS.B,

16.49%,

4/10/27

20,000‌

20,360‌

APP-12933534.FP.FTS.B,

16.99%,

4/10/27

19,824‌

20,248‌

APP-12986414.FP.FTS.B,

17.74%,

4/10/27

39,900‌

40,360‌

APP-12796424.FP.FTS.B,

17.99%,

4/10/27

15,000‌

15,145‌

APP-12976491.FP.FTS.B,

17.99%,

4/10/27

23,000‌

23,289‌

APP-13016825.FP.FTS.B,

17.99%,

4/10/27

25,900‌

26,199‌

APP-13018575.FP.FTS.B,

18.74%,

4/10/27

50,000‌

50,666‌

APP-13009349.FP.FTS.B,

19.49%,

4/10/27

11,246‌

11,287‌

APP-13017890.FP.FTS.B,

19.49%,

4/10/27

20,200‌

20,453‌

APP-12780154.FP.FTS.B,

19.99%,

4/10/27

15,000‌

15,177‌

APP-12770485.FP.FTS.B,

20.49%,

4/10/27

16,000‌

16,394‌

APP-13020600.FP.FTS.B,

21.49%,

4/10/27

15,000‌

15,399‌

APP-12794558.FP.FTS.B,

22.49%,

4/10/27

10,500‌

10,761‌

APP-12804212.FP.FTS.B,

22.49%,

4/10/27

12,000‌

12,105‌

APP-12723310.FP.FTS.B,

22.99%,

4/10/27

16,000‌

16,402‌

APP-12971734.FP.FTS.B,

25.49%,

4/10/27

10,900‌

11,192‌

APP-13009797.FP.FTS.B,

25.49%,

4/10/27

11,500‌

11,619‌

APP-12709781.FP.FTS.B,

8.99%,

4/11/27

.

24,000‌

24,450‌

APP-12801468.FP.FTS.B,

11.24%,

4/11/27

13,850‌

14,161‌

APP-12735907.FP.FTS.B,

11.74%,

4/11/27

50,000‌

50,963‌

APP-12731627.FP.FTS.B,

13.24%,

4/11/27

25,261‌

25,737‌

APP-12119588.FP.FTS.B,

13.74%,

4/11/27

11,727‌

11,995‌

APP-12782592.FP.FTS.B,

16.24%,

4/11/27

32,000‌

32,750‌

APP-12663567.FP.FTS.B,

16.49%,

4/11/27

28,000‌

28,517‌

APP-12742642.FP.FTS.B,

16.74%,

4/11/27

50,000‌

50,657‌

APP-12795067.FP.FTS.B,

16.74%,

4/11/27

50,000‌

50,925‌

APP-12800992.FP.FTS.B,

16.99%,

4/11/27

17,267‌

17,674‌

APP-09096529.FP.FTS.B,

10.49%,

4/12/27

30,265‌

30,947‌

APP-12401919.FP.FTS.B,

12.99%,

4/12/27

12,630‌

12,922‌

APP-12870868.FP.FTS.B,

13.24%,

4/12/27

30,590‌

31,183‌

APP-11872577.FP.FTS.B,

13.99%,

4/12/27

44,003‌

44,855‌

APP-12780320.FP.FTS.B,

14.99%,

4/12/27

18,287‌

18,633‌

APP-12794611.FP.FTS.B,

16.49%,

4/12/27

26,600‌

27,236‌

APP-12674210.FP.FTS.B,

18.99%,

4/12/27

15,488‌

15,875‌

APP-13058013.FP.FTS.B,

18.99%,

4/12/27

10,000‌

10,126‌

APP-12789860.FP.FTS.B,

19.74%,

4/12/27

41,900‌

42,437‌

APP-12675250.FP.FTS.B,

19.99%,

4/12/27

25,704‌

26,075‌

APP-12792096.FP.FTS.B,

19.99%,

4/12/27

20,500‌

20,726‌

APP-12793996.FP.FTS.B,

19.99%,

4/12/27

31,000‌

31,314‌

APP-12543186.FP.FTS.B,

21.49%,

4/12/27

14,247‌

14,617‌

APP-12542838.FP.FTS.B,

11.24%,

4/13/27

30,515‌

31,220‌

APP-12674073.FP.FTS.B,

17.49%,

4/13/27

29,737‌

30,193‌

APP-12119732.FP.FTS.B,

22.49%,

4/13/27

10,691‌

10,851‌

APP-12819793.FP.FTS.B,

11.24%,

4/14/27

14,000‌

14,327‌

APP-12933712.FP.FTS.B,

16.99%,

4/14/27

17,556‌

18,018‌

APP-12634752.FP.FTS.B,

8.49%,

4/15/27

.

30,000‌

30,563‌

Description

Principal

Amount

Value

Freedom

Financial

Asset

Management

LLC

(continued)

APP-12601811.FP.FTS.B,

10.49%,

4/15/27

$

31,542‌

$

32,140‌

APP-12847750.FP.FTS.B,

10.49%,

4/15/27

30,000‌

30,705‌

APP-12840779.FP.FTS.B,

10.99%,

4/15/27

40,000‌

40,945‌

APP-12880291.FP.FTS.B,

10.99%,

4/15/27

27,000‌

27,638‌

APP-12884053.FP.FTS.B,

10.99%,

4/15/27

25,000‌

25,590‌

APP-12886061.FP.FTS.B,

10.99%,

4/15/27

25,000‌

25,590‌

APP-12890839.FP.FTS.B,

12.99%,

4/15/27

12,000‌

12,293‌

APP-13049903.FP.FTS.B,

13.49%,

4/15/27

15,000‌

15,257‌

APP-12889697.FP.FTS.B,

14.49%,

4/15/27

23,200‌

23,782‌

APP-12838144.FP.FTS.B,

14.74%,

4/15/27

30,500‌

31,006‌

APP-12879648.FP.FTS.B,

14.99%,

4/15/27

19,000‌

19,383‌

APP-12872440.FP.FTS.B,

16.49%,

4/15/27

12,000‌

12,194‌

APP-12851953.FP.FTS.B,

16.74%,

4/15/27

45,000‌

45,929‌

APP-12861897.FP.FTS.B,

16.99%,

4/15/27

15,000‌

15,245‌

APP-13062300.FP.FTS.B,

17.49%,

4/15/27

16,000‌

16,228‌

APP-12870173.FP.FTS.B,

17.99%,

4/15/27

10,000‌

10,210‌

APP-12885686.FP.FTS.B,

17.99%,

4/15/27

11,000‌

11,286‌

APP-12808353.FP.FTS.B,

18.49%,

4/15/27

20,000‌

20,557‌

APP-12863760.FP.FTS.B,

18.49%,

4/15/27

13,750‌

14,133‌

APP-12888026.FP.FTS.B,

19.49%,

4/15/27

20,000‌

20,318‌

APP-12674259.FP.FTS.B,

19.99%,

4/15/27

10,070‌

10,206‌

APP-13008146.FP.FTS.B,

19.99%,

4/15/27

15,000‌

15,229‌

APP-12967750.FP.FTS.B,

21.24%,

4/15/27

25,000‌

25,336‌

APP-12745164.FP.FTS.B,

22.24%,

4/15/27

26,800‌

27,608‌

APP-12867908.FP.FTS.B,

23.24%,

4/15/27

25,900‌

26,693‌

APP-12780020.FP.FTS.B,

8.99%,

4/16/27

.

33,025‌

33,624‌

APP-12801088.FP.FTS.B,

10.99%,

4/16/27

26,600‌

27,236‌

APP-12831439.FP.FTS.B,

10.99%,

4/16/27

35,000‌

35,837‌

APP-13011697.FP.FTS.B,

10.99%,

4/16/27

12,757‌

13,032‌

APP-12540590.FP.FTS.B,

14.49%,

4/16/27

29,809‌

30,416‌

APP-12845270.FP.FTS.B,

17.74%,

4/16/27

39,600‌

40,230‌

APP-12863914.FP.FTS.B,

19.49%,

4/16/27

17,400‌

17,647‌

APP-12779738.FP.FTS.B,

19.74%,

4/16/27

39,419‌

40,070‌

APP-11924095.FP.FTS.B,

19.99%,

4/16/27

25,000‌

25,415‌

APP-12774545.FP.FTS.B,

20.49%,

4/16/27

18,945‌

19,513‌

APP-12848627.FP.FTS.B,

21.99%,

4/16/27

10,526‌

10,707‌

APP-13157103.FP.FTS.B,

9.24%,

4/17/27

.

15,000‌

15,275‌

APP-13103498.FP.FTS.B,

10.99%,

4/17/27

28,000‌

28,602‌

APP-12246184.FP.FTS.B,

11.24%,

4/17/27

13,039‌

13,313‌

APP-12889290.FP.FTS.B,

11.24%,

4/17/27

18,095‌

18,475‌

APP-12779666.FP.FTS.B,

11.49%,

4/17/27

17,999‌

18,369‌

APP-13061423.FP.FTS.B,

13.24%,

4/17/27

23,000‌

23,411‌

APP-12883157.FP.FTS.B,

13.74%,

4/17/27

11,000‌

11,241‌

APP-13153666.FP.FTS.B,

13.99%,

4/17/27

49,024‌

49,907‌

APP-13151613.FP.FTS.B,

14.99%,

4/17/27

21,050‌

21,396‌

APP-13153548.FP.FTS.B,

16.24%,

4/17/27

40,000‌

40,904‌

APP-12800972.FP.FTS.B,

17.49%,

4/17/27

23,191‌

23,616‌

APP-12861690.FP.FTS.B,

17.74%,

4/17/27

38,046‌

38,670‌

APP-13156398.FP.FTS.B,

17.74%,

4/17/27

50,000‌

50,816‌

APP-12800643.FP.FTS.B,

19.74%,

4/17/27

40,500‌

41,191‌

APP-13158258.FP.FTS.B,

19.99%,

4/17/27

12,750‌

12,940‌

APP-12931503.FP.FTS.B,

13.24%,

4/18/27

25,000‌

25,499‌

APP-13168348.FP.FTS.B,

18.99%,

4/18/27

14,900‌

15,310‌

APP-13016462.FP.FTS.B,

20.49%,

4/18/27

17,500‌

18,036‌

APP-13061405.FP.FTS.B,

22.24%,

4/18/27

28,000‌

28,367‌

APP-13058395.FP.FTS.B,

21.24%,

4/19/27

20,000‌

20,274‌

APP-12934011.FP.FTS.B,

10.99%,

4/20/27

25,056‌

25,652‌

APP-13141094.FP.FTS.B,

10.99%,

4/20/27

40,000‌

40,896‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

33

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Freedom

Financial

Asset

Management

LLC

(continued)

APP-13083128.FP.FTS.B,

11.24%,

4/20/27

$

22,000‌

$

22,506‌

APP-13002914.FP.FTS.B,

18.99%,

4/20/27

17,269‌

17,780‌

APP-12974063.FP.FTS.B,

19.99%,

4/20/27

25,900‌

26,339‌

APP-13009743.FP.FTS.B,

10.99%,

4/22/27

20,999‌

21,511‌

APP-12972758.FP.FTS.B,

11.24%,

4/22/27

24,099‌

24,667‌

APP-12674727.FP.FTS.B,

13.24%,

4/22/27

33,098‌

33,938‌

APP-13141134.FP.FTS.B,

13.24%,

4/22/27

32,735‌

33,385‌

APP-12942867.FP.FTS.B,

16.49%,

4/22/27

20,000‌

20,339‌

APP-13149908.FP.FTS.B,

17.99%,

4/22/27

24,999‌

25,450‌

APP-12969962.FP.FTS.B,

21.99%,

4/22/27

10,000‌

10,196‌

APP-13017812.FP.FTS.B,

16.49%,

4/23/27

26,000‌

26,578‌

APP-13020128.FP.FTS.B,

16.74%,

4/23/27

44,700‌

45,565‌

APP-12910819.FP.FTS.B,

17.99%,

4/23/27

7,500‌

7,670‌

APP-13018067.FP.FTS.B,

18.99%,

4/23/27

19,000‌

19,591‌

APP-13010437.FP.FTS.B,

19.74%,

4/23/27

32,000‌

32,592‌

APP-12548143.FP.FTS.B,

19.99%,

4/23/27

27,900‌

28,447‌

APP-12997870.FP.FTS.B,

19.99%,

4/23/27

24,300‌

24,776‌

APP-13018972.FP.FTS.B,

19.99%,

4/23/27

23,000‌

23,427‌

APP-13016033.FP.FTS.B,

20.24%,

4/23/27

49,900‌

51,511‌

APP-12977040.FP.FTS.B,

20.49%,

4/23/27

18,000‌

18,602‌

APP-13166600.FP.FTS.B,

21.49%,

4/23/27

14,448‌

14,937‌

APP-13028479.FP.FTS.B,

21.74%,

4/23/27

25,900‌

26,382‌

APP-12910945.FP.FTS.B,

21.99%,

4/23/27

30,816‌

31,392‌

APP-12944703.FP.FTS.B,

22.49%,

4/23/27

11,000‌

11,213‌

APP-12725825.FP.FTS.B,

18.49%,

4/24/27

28,000‌

28,521‌

APP-12981044.FP.FTS.B,

18.99%,

4/24/27

10,325‌

10,544‌

APP-13043363.FP.FTS.B,

19.74%,

4/24/27

34,001‌

34,572‌

APP-12801215.FP.FTS.B,

19.99%,

4/24/27

25,800‌

26,257‌

APP-12933688.FP.FTS.B,

19.99%,

4/24/27

22,500‌

23,237‌

APP-12911189.FP.FTS.B,

20.49%,

4/24/27

16,700‌

17,022‌

APP-11888471.FP.FTS.B,

16.49%,

4/25/27

23,088‌

23,570‌

APP-13157865.FP.FTS.B,

16.49%,

4/25/27

21,317‌

21,769‌

APP-13068321.FP.FTS.B,

18.24%,

4/25/27

46,400‌

47,307‌

APP-11022483.FP.FTS.B,

18.99%,

4/25/27

7,960‌

8,191‌

APP-13051587.FP.FTS.B,

19.99%,

4/25/27

22,000‌

22,425‌

APP-13057143.FP.FTS.B,

10.99%,

4/26/27

35,500‌

36,359‌

APP-13061655.FP.FTS.B,

13.24%,

4/26/27

35,000‌

35,739‌

APP-12933713.FP.FTS.B,

17.99%,

4/26/27

28,274‌

28,795‌

APP-13155804.FP.FTS.B,

17.99%,

4/26/27

26,062‌

26,583‌

APP-13362978.FP.FTS.B,

22.49%,

4/27/27

40,000‌

40,800‌

APP-13106287.FP.FTS.B,

11.74%,

4/28/27

45,000‌

45,999‌

APP-13060974.FP.FTS.B,

19.74%,

4/28/27

33,448‌

34,166‌

APP-12992337.FP.FTS.B,

21.49%,

4/28/27

15,900‌

16,485‌

APP-13155767.FP.FTS.B,

23.24%,

4/28/27

21,200‌

22,001‌

APP-13139319.FP.FTS.B,

11.24%,

4/30/27

25,000‌

25,653‌

APP-13060795.FP.FTS.B,

17.49%,

4/30/27

14,906‌

15,242‌

APP-13134349.FP.FTS.B,

21.24%,

4/30/27

22,000‌

22,488‌

APP-13137819.FP.FTS.B,

21.49%,

4/30/27

15,800‌

16,400‌

APP-13302130.FP.FTS.B,

10.99%,

5/01/27

27,274‌

27,819‌

APP-13421715.FP.FTS.B,

10.99%,

5/01/27

26,500‌

27,030‌

APP-13423557.FP.FTS.B,

10.99%,

5/01/27

28,498‌

29,068‌

APP-13424293.FP.FTS.B,

10.99%,

5/01/27

21,275‌

21,700‌

APP-13431042.FP.FTS.B,

10.99%,

5/01/27

20,000‌

20,400‌

APP-13131348.FP.FTS.B,

13.74%,

5/01/27

26,000‌

26,605‌

APP-13439065.FP.FTS.B,

14.24%,

5/01/27

36,621‌

37,353‌

APP-13431253.FP.FTS.B,

16.49%,

5/01/27

22,400‌

22,848‌

APP-13132268.FP.FTS.B,

16.74%,

5/01/27

32,000‌

32,728‌

APP-13162907.FP.FTS.B,

16.74%,

5/01/27

35,000‌

35,797‌

Description

Principal

Amount

Value

Freedom

Financial

Asset

Management

LLC

(continued)

APP-13408703.FP.FTS.B,

16.99%,

5/01/27

$

14,500‌

$

14,790‌

APP-13424399.FP.FTS.B,

17.49%,

5/01/27

13,683‌

13,956‌

APP-13430747.FP.FTS.B,

17.49%,

5/01/27

15,800‌

16,116‌

APP-13154672.FP.FTS.B,

18.49%,

5/01/27

21,000‌

21,716‌

APP-13422992.FP.FTS.B,

18.99%,

5/01/27

29,000‌

29,580‌

APP-13442546.FP.FTS.B,

19.74%,

5/01/27

38,000‌

38,760‌

APP-13427463.FP.FTS.B,

19.99%,

5/01/27

15,000‌

15,300‌

APP-13430284.FP.FTS.B,

19.99%,

5/01/27

12,000‌

12,240‌

APP-13430327.FP.FTS.B,

19.99%,

5/01/27

10,000‌

10,200‌

APP-13441350.FP.FTS.B,

19.99%,

5/01/27

10,000‌

10,200‌

APP-13404981.FP.FTS.B,

21.99%,

5/01/27

10,000‌

10,200‌

APP-13420080.FP.FTS.B,

21.99%,

5/01/27

33,700‌

34,374‌

APP-13438043.FP.FTS.B,

22.49%,

5/01/27

9,888‌

10,086‌

APP-13410577.FP.FTS.B,

22.99%,

5/01/27

14,600‌

14,892‌

APP-13440761.FP.FTS.B,

22.99%,

5/01/27

50,000‌

51,000‌

APP-13073067.FP.FTS.B,

20.49%,

5/02/27

10,400‌

10,608‌

APP-13342784.FP.FTS.B,

21.99%,

5/02/27

11,499‌

11,729‌

APP-13308191.FP.FTS.B,

16.99%,

5/04/27

20,000‌

20,400‌

APP-13389512.FP.FTS.B,

13.24%,

5/05/27

21,009‌

21,430‌

APP-13207134.FP.FTS.B,

18.24%,

5/05/27

34,500‌

35,190‌

APP-13430896.FP.FTS.B,

19.99%,

5/05/27

7,800‌

7,956‌

APP-12270573.FP.FTS.B,

10.99%,

5/06/27

37,000‌

37,740‌

APP-13301897.FP.FTS.B,

16.49%,

5/06/27

12,868‌

13,126‌

APP-13406162.FP.FTS.B,

21.49%,

5/06/27

18,000‌

18,360‌

APP-13301831.FP.FTS.B,

15.74%,

5/08/27

45,456‌

46,365‌

APP-13311434.FP.FTS.B,

16.49%,

5/08/27

15,000‌

15,300‌

APP-13193722.FP.FTS.B,

11.24%,

5/09/27

23,000‌

23,460‌

APP-12932857.FP.FTS.B,

18.99%,

5/10/27

9,751‌

9,946‌

APP-12775739.FP.FTS.B,

25.49%,

5/10/27

10,000‌

10,253‌

APP-12412862.FP.FTS.B,

25.49%,

5/11/27

11,391‌

11,511‌

APP-13418718.FP.FTS.B,

16.24%,

5/12/27

30,000‌

30,600‌

APP-12412882.FP.FTS.B,

17.74%,

5/12/27

31,576‌

32,207‌

APP-13208283.FP.FTS.B,

17.99%,

5/12/27

25,000‌

25,500‌

APP-13416172.FP.FTS.B,

8.99%,

5/13/27

.

24,143‌

24,626‌

APP-13031523.FP.FTS.B,

10.99%,

5/13/27

40,000‌

40,800‌

APP-13394495.FP.FTS.B,

11.49%,

5/13/27

16,700‌

17,034‌

APP-13439563.FP.FTS.B,

17.49%,

5/13/27

15,500‌

15,810‌

APP-13405061.FP.FTS.B,

17.74%,

5/13/27

30,000‌

30,600‌

APP-13357037.FP.FTS.B,

17.99%,

5/13/27

23,800‌

24,276‌

APP-13438034.FP.FTS.B,

17.99%,

5/13/27

7,500‌

7,650‌

APP-12982177.FP.FTS.B,

19.49%,

5/13/27

18,800‌

19,176‌

APP-13416776.FP.FTS.B,

19.99%,

5/13/27

14,000‌

14,280‌

APP-13423076.FP.FTS.B,

21.99%,

5/13/27

9,674‌

9,867‌

APP-13437001.FP.FTS.B,

8.49%,

5/14/27

.

30,000‌

30,600‌

APP-13437121.FP.FTS.B,

11.74%,

5/14/27

10,500‌

10,710‌

APP-13423039.FP.FTS.B,

14.24%,

5/14/27

40,000‌

40,800‌

APP-10823341.FP.FTS.B,

15.49%,

5/14/27

14,006‌

14,286‌

APP-13436426.FP.FTS.B,

16.49%,

5/14/27

20,000‌

20,400‌

APP-13199989.FP.FTS.B,

16.74%,

5/14/27

47,000‌

47,940‌

APP-13436550.FP.FTS.B,

16.99%,

5/14/27

16,842‌

17,179‌

APP-13430567.FP.FTS.B,

17.49%,

5/14/27

17,500‌

17,850‌

APP-13076587.FP.FTS.B,

17.99%,

5/14/27

23,100‌

23,562‌

APP-13302140.FP.FTS.B,

17.99%,

5/14/27

11,765‌

12,000‌

APP-13417327.FP.FTS.B,

17.99%,

5/14/27

10,000‌

10,200‌

APP-13336406.FP.FTS.B,

18.49%,

5/14/27

22,635‌

23,087‌

APP-13429921.FP.FTS.B,

18.49%,

5/14/27

23,000‌

23,460‌

APP-13434773.FP.FTS.B,

19.99%,

5/14/27

10,000‌

10,200‌

APP-13380372.FP.FTS.B,

21.99%,

5/14/27

33,008‌

33,668‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

34

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Freedom

Financial

Asset

Management

LLC

(continued)

APP-13431427.FP.FTS.B,

21.99%,

5/14/27

$

8,600‌

$

8,772‌

APP-13433077.FP.FTS.B,

21.99%,

5/14/27

10,000‌

10,200‌

APP-13318759.FP.FTS.B,

22.49%,

5/14/27

7,500‌

7,650‌

APP-13330852.FP.FTS.B,

22.49%,

5/14/27

35,500‌

36,210‌

APP-13443719.FP.FTS.B,

22.49%,

5/14/27

9,052‌

9,233‌

APP-13416305.FP.FTS.B,

8.99%,

5/15/27

.

39,000‌

39,780‌

APP-13436993.FP.FTS.B,

8.99%,

5/15/27

.

25,883‌

26,400‌

APP-13396243.FP.FTS.B,

11.24%,

5/15/27

15,788‌

16,104‌

APP-13440554.FP.FTS.B,

11.24%,

5/15/27

14,800‌

15,096‌

APP-13394315.FP.FTS.B,

13.24%,

5/15/27

40,000‌

40,800‌

APP-13435327.FP.FTS.B,

13.24%,

5/15/27

24,605‌

25,097‌

APP-13319688.FP.FTS.B,

14.49%,

5/15/27

26,500‌

27,030‌

APP-13422792.FP.FTS.B,

14.49%,

5/15/27

9,564‌

9,756‌

APP-13431354.FP.FTS.B,

17.24%,

5/15/27

40,000‌

40,800‌

APP-13441338.FP.FTS.B,

18.49%,

5/15/27

12,700‌

12,954‌

APP-13355854.FP.FTS.B,

18.99%,

5/15/27

18,000‌

18,360‌

APP-13441877.FP.FTS.B,

18.99%,

5/15/27

15,000‌

15,300‌

APP-13433669.FP.FTS.B,

19.99%,

5/15/27

15,000‌

15,300‌

APP-12863366.FP.FTS.B,

22.49%,

5/17/27

12,600‌

12,792‌

APP-13051907.FP.FTS.B,

25.49%,

5/26/27

10,525‌

10,718‌

APP-13155943.FP.FTS.B,

25.49%,

5/29/27

10,000‌

10,390‌

APP-13331280.FP.FTS.B,

22.24%,

6/15/27

29,999‌

30,599‌

APP-13429983.FP.FTS.B,

22.49%,

6/15/27

10,000‌

10,200‌

APP-13409383.FP.FTS.B,

22.99%,

6/15/27

15,900‌

16,218‌

APP-13302148.FP.FTS.B,

25.49%,

6/15/27

7,500‌

7,650‌

21,356,274‌

LendingClub

Corp.

149783879.LC.FTS.B,

20%,

5/01/22

.....

311‌

311‌

151017210.LC.FTS.B,

20%,

5/01/22

.....

690‌

690‌

151060246.LC.FTS.B,

17.19%,

5/06/22

...

336‌

336‌

151328901.LC.FTS.B,

15.57%,

5/09/22

...

1,311‌

1,312‌

151224188.LC.FTS.B,

16.4%,

5/09/22

...

2,250‌

2,247‌

151485879.LC.FTS.B,

16.4%,

5/09/22

...

346‌

346‌

151628205.LC.FTS.B,

13.9%,

5/13/22

...

6,561‌

6,492‌

151708431.LC.FTS.B,

16.4%,

5/15/22

...

1,171‌

1,171‌

151958215.LC.FTS.B,

11.71%,

5/20/22

...

978‌

979‌

151868648.LC.FTS.B,

13.9%,

5/20/22

...

563‌

566‌

152186018.LC.FTS.B,

20%,

5/22/22

.....

1,024‌

1,014‌

153454906.LC.FTS.B,

16.12%,

6/21/22

...

840‌

841‌

153807015.LC.FTS.B,

17.74%,

6/21/22

...

1,679‌

1,684‌

154889094.LC.FTS.B,

11.02%,

7/11/22

...

1,485‌

1,228‌

155609880.LC.FTS.B,

20%,

7/23/22

.....

3,062‌

3,068‌

155924795.LC.FTS.B,

17.74%,

7/26/22

...

1,187‌

1,156‌

157033221.LC.FTS.B,

20.55%,

8/15/22

...

–‌

–‌

157700317.LC.FTS.B,

15.24%,

8/27/22

...

4,275‌

4,276‌

157705574.LC.FTS.B,

13.08%,

8/28/22

...

2,485‌

2,443‌

157844711.LC.FTS.B,

16.95%,

9/04/22

...

2,036‌

2,015‌

157773871.LC.FTS.B,

14.3%,

9/05/22

...

11,171‌

10,625‌

157763243.LC.FTS.B,

15.24%,

9/05/22

...

5,884‌

2,393‌

158679883.LC.FTS.B,

14.3%,

9/13/22

...

–‌

–‌

158782398.LC.FTS.B,

15.24%,

9/16/22

...

1,698‌

1,687‌

157585720.LC.FTS.B,

16.95%,

9/16/22

...

2,001‌

1,984‌

158856810.LC.FTS.B,

5%,

9/23/22

......

13,499‌

12,580‌

159976738.LC.FTS.B,

16.95%,

10/08/22

..

1,252‌

1,231‌

159892003.LC.FTS.B,

17.74%,

10/08/22

..

5,958‌

1,072‌

160396238.LC.FTS.B,

18.62%,

10/16/22

..

240‌

239‌

160976650.LC.FTS.B,

16.12%,

10/28/22

..

8,253‌

8,139‌

Description

Principal

Amount

Value

LendingClub

Corp.

(continued)

160246637.LC.FTS.B,

17.74%,

10/28/22

..

$

4,136‌

$

4,048‌

161616706.LC.FTS.B,

18.62%,

11/08/22

..

1,089‌

1,079‌

161827879.LC.FTS.B,

11.71%,

11/14/22

..

6,841‌

6,716‌

161879338.LC.FTS.B,

17.74%,

11/14/22

..

5,957‌

2,900‌

161522977.LC.FTS.B,

17.74%,

11/29/22

..

4,334‌

4,239‌

162760525.LC.FTS.B,

17.74%,

12/04/22

..

–‌

–‌

162795354.LC.FTS.B,

16.12%,

12/09/22

..

831‌

814‌

163075434.LC.FTS.B,

16.95%,

12/09/22

..

2,991‌

2,932‌

163396590.LC.FTS.B,

14.3%,

12/16/22

...

6,197‌

6,090‌

163434480.LC.FTS.B,

14.3%,

12/16/22

...

4,006‌

3,107‌

163393891.LC.FTS.B,

23.05%,

12/16/22

..

1,967‌

1,946‌

163370085.LC.FTS.B,

16.95%,

12/18/22

..

2,286‌

2,247‌

163729270.LC.FTS.B,

16.12%,

12/23/22

..

11,716‌

11,148‌

164102295.LC.FTS.B,

18.62%,

12/30/22

..

4,366‌

4,321‌

145598914.LC.FTS.B,

11.31%,

1/02/23

...

227‌

227‌

164204504.LC.FTS.B,

17.74%,

1/02/23

...

5,014‌

4,864‌

164956625.LC.FTS.B,

13.08%,

1/16/23

...

2,035‌

1,990‌

164988293.LC.FTS.B,

18.62%,

1/16/23

...

5,205‌

5,034‌

165032843.LC.FTS.B,

12.4%,

1/21/23

...

4,532‌

4,436‌

146794870.LC.FTS.B,

10.72%,

1/25/23

...

292‌

292‌

165499100.LC.FTS.B,

18.62%,

2/03/23

...

6,022‌

5,861‌

165059096.LC.FTS.B,

20.55%,

2/04/23

...

13,038‌

12,708‌

166118185.LC.FTS.B,

20.55%,

2/04/23

...

4,273‌

548‌

165564555.LC.FTS.B,

18.62%,

2/10/23

...

2,242‌

2,191‌

166393444.LC.FTS.B,

20.55%,

2/10/23

...

4,277‌

4,142‌

166623872.LC.FTS.B,

13.08%,

2/13/23

...

3,284‌

3,201‌

166738187.LC.FTS.B,

15.24%,

2/14/23

...

3,677‌

3,596‌

165531376.LC.FTS.B,

17.74%,

2/18/23

...

7,523‌

7,297‌

147414934.LC.FTS.B,

14.47%,

2/21/23

...

1,483‌

1,442‌

167075014.LC.FTS.B,

17.74%,

2/24/23

...

8,777‌

710‌

167464307.LC.FTS.B,

17.74%,

2/27/23

...

15,371‌

5,942‌

167382438.LC.FTS.B,

23.05%,

2/27/23

...

4,655‌

4,445‌

148238006.LC.FTS.B,

16.4%,

3/01/23

...

1,599‌

1,603‌

147036408.LC.FTS.B,

20%,

3/01/23

.....

1,617‌

1,583‌

167604393.LC.FTS.B,

15.24%,

3/02/23

...

11,547‌

11,160‌

167434436.LC.FTS.B,

18.62%,

3/02/23

...

1,903‌

1,844‌

167744510.LC.FTS.B,

Zero

Cpn,

3/04/23

.

5,025‌

2,204‌

168120797.LC.FTS.B,

17.74%,

3/10/23

...

8,614‌

8,292‌

148758747.LC.FTS.B,

13.9%,

3/15/23

...

2,443‌

2,432‌

148836727.LC.FTS.B,

17.97%,

3/15/23

...

625‌

124‌

168454364.LC.FTS.B,

Zero

Cpn,

3/16/23

.

12,523‌

6,294‌

168280549.LC.FTS.B,

15.24%,

3/16/23

...

14,770‌

14,249‌

167993948.LC.FTS.B,

16.12%,

3/16/23

...

5,738‌

5,411‌

168548858.LC.FTS.B,

14.3%,

3/18/23

...

9,497‌

9,098‌

168549097.LC.FTS.B,

16.12%,

3/18/23

...

3,891‌

3,765‌

148045212.LC.FTS.B,

16.4%,

3/25/23

...

11‌

11‌

149396071.LC.FTS.B,

11.02%,

3/27/23

...

4,759‌

4,724‌

148479310.LC.FTS.B,

16.4%,

4/01/23

...

2,814‌

2,804‌

149490642.LC.FTS.B,

14.74%,

4/02/23

...

359‌

358‌

149961107.LC.FTS.B,

20%,

4/09/23

.....

109‌

109‌

150596125.LC.FTS.B,

15.57%,

4/22/23

...

5,739‌

2,588‌

149486532.LC.FTS.B,

17.97%,

4/22/23

...

223‌

225‌

150816884.LC.FTS.B,

17.19%,

4/26/23

...

1,292‌

1,296‌

142964458.LC.FTS.B,

18.94%,

11/01/23

..

5,296‌

5,160‌

141699210.LC.FTS.B,

17.97%,

11/06/23

..

5,665‌

5,560‌

143206516.LC.FTS.B,

11.8%,

11/07/23

...

4,203‌

4,072‌

143172928.LC.FTS.B,

14.47%,

11/07/23

..

8,312‌

8,050‌

143142201.LC.FTS.B,

10.47%,

11/09/23

..

10,080‌

9,776‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

35

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

LendingClub

Corp.

(continued)

143298645.LC.FTS.B,

10.72%,

11/09/23

..

$

4,729‌

$

4,591‌

143317674.LC.FTS.B,

10.72%,

11/09/23

..

18,200‌

17,554‌

144899761.LC.FTS.B,

17.97%,

12/12/23

..

11,359‌

11,169‌

145002050.LC.FTS.B,

10%,

12/19/23

....

9,135‌

8,893‌

145183134.LC.FTS.B,

11.8%,

12/19/23

...

6,274‌

6,065‌

144545992.LC.FTS.B,

12.98%,

12/19/23

..

6,378‌

6,194‌

144834703.LC.FTS.B,

12.98%,

12/19/23

..

16,804‌

16,200‌

144619608.LC.FTS.B,

16.14%,

12/19/23

..

7,062‌

6,835‌

145208498.LC.FTS.B,

18.94%,

12/19/23

..

9,200‌

8,980‌

145205316.LC.FTS.B,

10.33%,

12/20/23

..

10,742‌

10,414‌

145501891.LC.FTS.B,

10.33%,

12/28/23

..

17,283‌

16,714‌

145511024.LC.FTS.B,

10.72%,

12/28/23

..

8,240‌

7,991‌

145253027.LC.FTS.B,

11.8%,

12/28/23

...

6,483‌

6,282‌

144993526.LC.FTS.B,

12.98%,

12/28/23

..

13,247‌

12,863‌

145315111.LC.FTS.B,

17.97%,

12/28/23

..

7,451‌

7,348‌

143897911.LC.FTS.B,

10.33%,

12/31/23

..

8,539‌

8,270‌

145134172.LC.FTS.B,

10.33%,

12/31/23

..

8,599‌

7,571‌

145525007.LC.FTS.B,

10.33%,

12/31/23

..

22,323‌

19,110‌

145461394.LC.FTS.B,

11.8%,

12/31/23

...

5,233‌

5,050‌

145547722.LC.FTS.B,

11.8%,

12/31/23

...

8,784‌

8,501‌

145586016.LC.FTS.B,

11.8%,

12/31/23

...

6,098‌

5,881‌

145577468.LC.FTS.B,

13.56%,

12/31/23

..

6,688‌

6,440‌

145407490.LC.FTS.B,

10.33%,

1/02/24

...

8,196‌

7,685‌

145621023.LC.FTS.B,

10.72%,

1/02/24

...

8,427‌

8,154‌

145625511.LC.FTS.B,

10.72%,

1/02/24

...

10,056‌

9,716‌

145657415.LC.FTS.B,

11.31%,

1/03/24

...

12,128‌

11,712‌

145724796.LC.FTS.B,

11.8%,

1/03/24

....

13,084‌

12,617‌

146185159.LC.FTS.B,

11.8%,

1/14/24

....

17,445‌

16,838‌

146204474.LC.FTS.B,

11.8%,

1/15/24

....

5,234‌

5,045‌

145914653.LC.FTS.B,

16.14%,

1/15/24

...

8,190‌

7,720‌

146260552.LC.FTS.B,

16.91%,

1/15/24

...

8,395‌

8,093‌

146270708.LC.FTS.B,

18.94%,

1/15/24

...

5,840‌

5,661‌

146050977.LC.FTS.B,

15.02%,

1/17/24

...

9,243‌

8,889‌

145988002.LC.FTS.B,

10.33%,

1/24/24

...

8,207‌

7,953‌

145982563.LC.FTS.B,

11.8%,

1/24/24

....

5,233‌

5,057‌

146584267.LC.FTS.B,

14.47%,

1/25/24

...

9,492‌

9,081‌

146735125.LC.FTS.B,

11.8%,

1/28/24

....

15,605‌

15,061‌

146870476.LC.FTS.B,

12.98%,

1/28/24

...

16,817‌

16,292‌

146892745.LC.FTS.B,

18.94%,

1/28/24

...

10,004‌

9,613‌

146965410.LC.FTS.B,

12.98%,

1/29/24

...

5,317‌

5,138‌

147197560.LC.FTS.B,

15.02%,

2/05/24

...

8,327‌

7,978‌

147562203.LC.FTS.B,

12.98%,

2/12/24

...

9,218‌

8,912‌

147405696.LC.FTS.B,

16.14%,

2/12/24

...

18,848‌

6,965‌

148110315.LC.FTS.B,

17.97%,

2/29/24

...

10,795‌

10,592‌

148244873.LC.FTS.B,

14.74%,

3/01/24

...

18,414‌

17,657‌

148228998.LC.FTS.B,

15.57%,

3/01/24

...

18,201‌

16,968‌

148295277.LC.FTS.B,

17.19%,

3/06/24

...

9,824‌

9,418‌

148611207.LC.FTS.B,

14.74%,

3/11/24

...

11,738‌

11,274‌

148784147.LC.FTS.B,

14.74%,

3/13/24

...

4,917‌

4,721‌

148704726.LC.FTS.B,

20%,

3/13/24

.....

14,145‌

13,600‌

148863922.LC.FTS.B,

12.4%,

3/15/24

...

17,774‌

17,158‌

148478260.LC.FTS.B,

13.08%,

3/15/24

...

8,625‌

8,317‌

148867050.LC.FTS.B,

22.5%,

3/15/24

...

5,785‌

1,096‌

149326456.LC.FTS.B,

13.9%,

3/26/24

...

22,180‌

19,363‌

149464192.LC.FTS.B,

17.19%,

4/01/24

...

13,897‌

12,368‌

149608993.LC.FTS.B,

13.9%,

4/02/24

...

8,966‌

8,484‌

149640002.LC.FTS.B,

13.9%,

4/02/24

...

5,014‌

4,797‌

149742003.LC.FTS.B,

12.4%,

4/05/24

...

12,259‌

11,801‌

Description

Principal

Amount

Value

LendingClub

Corp.

(continued)

149860763.LC.FTS.B,

17.19%,

4/09/24

...

$

10,426‌

$

9,975‌

149970928.LC.FTS.B,

20%,

4/09/24

.....

23,982‌

22,471‌

150215503.LC.FTS.B,

14.74%,

4/15/24

...

5,381‌

5,160‌

150226350.LC.FTS.B,

14.74%,

4/16/24

...

14,182‌

13,601‌

150330237.LC.FTS.B,

14.74%,

4/17/24

...

9,095‌

8,628‌

150301304.LC.FTS.B,

17.19%,

4/17/24

...

10,457‌

10,004‌

150429035.LC.FTS.B,

14.74%,

4/18/24

...

17,126‌

16,046‌

150527722.LC.FTS.B,

15.57%,

4/23/24

...

7,673‌

7,367‌

150611409.LC.FTS.B,

15.57%,

4/23/24

...

7,533‌

7,047‌

150807250.LC.FTS.B,

14.74%,

4/26/24

...

23,712‌

21,226‌

150797540.LC.FTS.B,

13.9%,

4/29/24

...

7,014‌

6,737‌

150867060.LC.FTS.B,

15.57%,

4/29/24

...

9,718‌

9,264‌

150672283.LC.FTS.B,

20%,

4/29/24

.....

10,065‌

9,635‌

151001381.LC.FTS.B,

17.97%,

4/30/24

...

5,451‌

5,220‌

151088676.LC.FTS.B,

10.33%,

5/01/24

...

9,937‌

9,542‌

150890573.LC.FTS.B,

14.74%,

5/01/24

...

15,689‌

14,066‌

151075075.LC.FTS.B,

16.4%,

5/01/24

...

13,344‌

12,711‌

151157582.LC.FTS.B,

15.57%,

5/06/24

...

9,001‌

8,531‌

151449849.LC.FTS.B,

13.08%,

5/09/24

...

8,193‌

7,871‌

151465885.LC.FTS.B,

17.19%,

5/09/24

...

12,927‌

12,303‌

151481393.LC.FTS.B,

17.19%,

5/09/24

...

9,072‌

8,663‌

151782625.LC.FTS.B,

20%,

5/15/24

.....

8,449‌

8,127‌

152017907.LC.FTS.B,

15.57%,

5/20/24

...

13,221‌

12,614‌

151720984.LC.FTS.B,

13.08%,

5/30/24

...

9,758‌

9,357‌

153285109.LC.FTS.B,

16.12%,

6/12/24

...

15,100‌

14,440‌

153352395.LC.FTS.B,

12.4%,

6/14/24

...

9,905‌

9,429‌

154100028.LC.FTS.B,

16.12%,

6/26/24

...

8,236‌

7,904‌

154211311.LC.FTS.B,

20%,

6/26/24

.....

11,621‌

11,006‌

154685026.LC.FTS.B,

11.02%,

7/05/24

...

10,698‌

10,230‌

154645550.LC.FTS.B,

20%,

7/05/24

.....

9,594‌

1,838‌

154945152.LC.FTS.B,

14.3%,

7/11/24

....

8,668‌

8,252‌

155028979.LC.FTS.B,

16.95%,

7/11/24

...

5,708‌

5,442‌

154225612.LC.FTS.B,

17.74%,

7/11/24

...

8,616‌

1,018‌

155019513.LC.FTS.B,

20%,

7/11/24

.....

8,142‌

7,795‌

154417517.LC.FTS.B,

14.3%,

7/15/24

...

13,872‌

13,239‌

155959854.LC.FTS.B,

17.74%,

7/29/24

...

5,755‌

5,460‌

156556385.LC.FTS.B,

16.95%,

8/06/24

...

5,874‌

5,562‌

156763102.LC.FTS.B,

10.33%,

8/12/24

...

17,986‌

15,485‌

156702788.LC.FTS.B,

16.95%,

8/15/24

...

14,098‌

13,384‌

157083123.LC.FTS.B,

14.3%,

8/16/24

...

9,115‌

8,679‌

157256378.LC.FTS.B,

14.3%,

8/19/24

...

12,159‌

11,582‌

157196587.LC.FTS.B,

16.12%,

8/19/24

...

4,199‌

4,025‌

155540917.LC.FTS.B,

16.95%,

8/19/24

...

20,570‌

18,388‌

157113878.LC.FTS.B,

16.95%,

8/20/24

...

22,829‌

20,545‌

157001583.LC.FTS.B,

23.05%,

8/20/24

...

6,479‌

6,226‌

157367413.LC.FTS.B,

14.3%,

8/21/24

...

18,231‌

17,374‌

157398755.LC.FTS.B,

16.12%,

8/21/24

...

4,887‌

4,690‌

157448559.LC.FTS.B,

14.3%,

8/22/24

...

8,572‌

8,174‌

157544665.LC.FTS.B,

23.05%,

8/23/24

...

12,460‌

11,994‌

157643282.LC.FTS.B,

16.12%,

8/27/24

...

10,239‌

9,674‌

156354990.LC.FTS.B,

13.08%,

8/28/24

...

12,638‌

12,070‌

157762746.LC.FTS.B,

16.95%,

8/28/24

...

15,609‌

14,898‌

158155993.LC.FTS.B,

16.95%,

9/04/24

...

12,073‌

11,423‌

158299088.LC.FTS.B,

16.12%,

9/13/24

...

6,079‌

5,775‌

158788148.LC.FTS.B,

14.3%,

9/16/24

...

3,255‌

3,139‌

158790336.LC.FTS.B,

16.12%,

9/16/24

...

13,473‌

12,637‌

159124332.LC.FTS.B,

16.95%,

9/23/24

...

17,993‌

16,976‌

157983194.LC.FTS.B,

12.4%,

9/24/24

...

9,512‌

9,075‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

36

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

LendingClub

Corp.

(continued)

159273075.LC.FTS.B,

17.74%,

9/26/24

...

$

13,383‌

$

12,737‌

159803688.LC.FTS.B,

14.3%,

10/04/24

...

16,598‌

15,505‌

159978471.LC.FTS.B,

15.24%,

10/08/24

..

13,449‌

12,545‌

159322847.LC.FTS.B,

16.95%,

10/08/24

..

21,691‌

20,482‌

160673774.LC.FTS.B,

12.4%,

10/21/24

...

27,757‌

22,934‌

160749557.LC.FTS.B,

18.62%,

10/30/24

..

6,821‌

6,504‌

161256708.LC.FTS.B,

16.12%,

11/01/24

..

8,136‌

7,639‌

161072681.LC.FTS.B,

18.62%,

11/01/24

..

13,726‌

12,967‌

161333839.LC.FTS.B,

13.08%,

11/04/24

..

21,772‌

20,697‌

161536145.LC.FTS.B,

16.95%,

11/14/24

..

12,910‌

12,020‌

161962391.LC.FTS.B,

13.08%,

11/15/24

..

21,474‌

20,381‌

161745167.LC.FTS.B,

16.95%,

11/15/24

..

9,668‌

9,134‌

162809872.LC.FTS.B,

12.4%,

12/09/24

...

16,821‌

15,910‌

162773046.LC.FTS.B,

20.55%,

12/09/24

..

6,767‌

6,368‌

163432488.LC.FTS.B,

16.95%,

12/23/24

..

11,920‌

11,041‌

163847398.LC.FTS.B,

20.55%,

12/26/24

..

6,714‌

6,376‌

163266659.LC.FTS.B,

16.12%,

12/30/24

..

7,254‌

6,709‌

165495106.LC.FTS.B,

17.74%,

1/30/25

...

13,419‌

12,536‌

166062042.LC.FTS.B,

18.62%,

2/04/25

...

7,021‌

6,570‌

166072481.LC.FTS.B,

23.05%,

2/04/25

...

21,890‌

20,391‌

166192973.LC.FTS.B,

18.62%,

2/06/25

...

6,909‌

6,460‌

166394886.LC.FTS.B,

20.55%,

2/10/25

...

24,993‌

23,441‌

166745877.LC.FTS.B,

5%,

2/18/25

......

11,163‌

9,603‌

167221792.LC.FTS.B,

20.55%,

2/25/25

...

17,530‌

16,508‌

167718660.LC.FTS.B,

15.24%,

3/03/25

...

20,627‌

19,198‌

167773992.LC.FTS.B,

18.62%,

3/04/25

...

7,057‌

6,557‌

167777432.LC.FTS.B,

18.62%,

3/04/25

...

8,468‌

7,868‌

167809066.LC.FTS.B,

Zero

Cpn,

3/05/25

.

3,942‌

1,883‌

167823045.LC.FTS.B,

16.12%,

3/05/25

...

10,369‌

9,654‌

168015684.LC.FTS.B,

14.3%,

3/11/25

....

21,838‌

20,368‌

168191500.LC.FTS.B,

14.3%,

3/11/25

....

16,304‌

15,185‌

168199339.LC.FTS.B,

20.55%,

3/11/25

...

12,883‌

12,002‌

1,878,307‌

LendingClub

Corp.

-

LCX

154240518.LC.FTS.B,

8.81%,

7/05/22

...

4,982‌

4,973‌

161807657.LC.FTS.B,

15.24%,

11/13/22

..

–‌

–‌

161723619.LC.FTS.B,

8.19%,

11/15/22

...

3,218‌

2,694‌

162024232.LC.FTS.B,

10.33%,

11/19/22

..

5,232‌

4,913‌

162539565.LC.FTS.B,

13.08%,

11/29/22

..

5,875‌

4,923‌

163529106.LC.FTS.B,

7.56%,

12/18/22

...

3,427‌

3,295‌

163609311.LC.FTS.B,

Zero

Cpn,

12/23/22

16,815‌

6,064‌

165255790.LC.FTS.B,

11.02%,

1/24/23

...

10,300‌

10,032‌

164413184.LC.FTS.B,

8.81%,

1/27/23

...

3,207‌

3,169‌

164258220.LC.FTS.B,

8.19%,

1/28/23

...

7,266‌

7,179‌

165550279.LC.FTS.B,

20.55%,

2/03/23

...

1,927‌

1,891‌

166078251.LC.FTS.B,

6.46%,

2/04/23

...

8,871‌

8,737‌

165933119.LC.FTS.B,

8.81%,

2/04/23

....

6,766‌

6,662‌

166172788.LC.FTS.B,

8.19%,

2/07/23

...

17,709‌

6,520‌

166637074.LC.FTS.B,

20.55%,

2/13/23

...

4,470‌

4,388‌

166424306.LC.FTS.B,

17.74%,

2/14/23

...

9,081‌

8,850‌

166809451.LC.FTS.B,

10.33%,

2/25/23

...

4,099‌

3,591‌

167398120.LC.FTS.B,

25.65%,

2/26/23

...

2,449‌

2,200‌

167548521.LC.FTS.B,

8.81%,

3/09/23

...

8,248‌

7,367‌

167504224.LC.FTS.B,

10.33%,

3/13/23

...

9,485‌

8,850‌

168426128.LC.FTS.B,

18.62%,

3/19/23

...

14,905‌

13,397‌

168601344.LC.FTS.B,

14.3%,

4/14/23

...

4,374‌

4,068‌

168272231.LC.FTS.B,

25.65%,

4/14/23

...

1,368‌

1,267‌

Description

Principal

Amount

Value

LendingClub

Corp.

-

LCX

(continued)

154626156.LC.FTS.B,

12.4%,

7/03/24

...

$

6,101‌

$

5,919‌

153705323.LC.FTS.B,

16.12%,

7/03/24

...

5,740‌

5,593‌

161696884.LC.FTS.B,

20.55%,

11/12/24

..

–‌

–‌

163949520.LC.FTS.B,

16.12%,

12/30/24

..

12,411‌

11,164‌

165353359.LC.FTS.B,

10.33%,

1/22/25

...

6,618‌

6,278‌

165749950.LC.FTS.B,

15.24%,

1/28/25

...

9,487‌

8,552‌

163936207.LC.FTS.B,

8.19%,

1/31/25

...

12,634‌

12,210‌

166491719.LC.FTS.B,

16.95%,

2/10/25

...

4,893‌

4,589‌

165922400.LC.FTS.B,

15.24%,

2/11/25

...

16,183‌

14,406‌

166607803.LC.FTS.B,

14.3%,

2/12/25

...

8,006‌

7,140‌

200,881‌

LendingClub

Corp.

-

LCX

PM

171124101.LC.FTS.B,

10.81%,

10/19/23

..

1,711‌

1,637‌

171172117.LC.FTS.B,

14.71%,

10/19/23

..

5,408‌

5,216‌

171442112.LC.FTS.B,

10.81%,

10/23/23

..

17,034‌

16,185‌

171398384.LC.FTS.B,

14.71%,

10/23/23

..

8,730‌

8,242‌

171401032.LC.FTS.B,

9.56%,

10/26/23

...

2,534‌

2,384‌

171498369.LC.FTS.B,

9.56%,

10/27/23

...

4,717‌

4,406‌

171184902.LC.FTS.B,

10.19%,

10/27/23

..

12,444‌

11,821‌

171532750.LC.FTS.B,

10.19%,

10/27/23

..

3,375‌

3,163‌

171616759.LC.FTS.B,

10.81%,

11/02/23

..

2,997‌

2,891‌

171683007.LC.FTS.B,

15.4%,

11/02/23

...

1,845‌

1,747‌

172186460.LC.FTS.B,

10.19%,

11/20/23

..

14,821‌

14,299‌

172382442.LC.FTS.B,

10.81%,

11/27/23

..

4,761‌

4,561‌

172228602.LC.FTS.B,

9.02%,

11/30/23

...

16,357‌

15,679‌

171980340.LC.FTS.B,

10.19%,

11/30/23

..

2,940‌

2,771‌

172426858.LC.FTS.B,

10.19%,

11/30/23

..

11,856‌

11,479‌

173411939.LC.FTS.B,

18.24%,

1/25/24

...

14,154‌

13,688‌

174087248.LC.FTS.B,

19.99%,

1/25/24

...

1,359‌

1,332‌

174191708.LC.FTS.B,

18.44%,

2/02/24

...

1,260‌

1,227‌

185001085.LC.FTS.B,

13.44%,

1/14/25

...

8,112‌

7,808‌

184877151.LC.FTS.B,

15.99%,

1/14/25

...

4,780‌

4,631‌

184979568.LC.FTS.B,

16.49%,

1/14/25

...

5,595‌

5,573‌

184739214.LC.FTS.B,

20.99%,

1/14/25

...

29,587‌

29,793‌

185064147.LC.FTS.B,

21.99%,

1/14/25

...

20,734‌

20,563‌

185067531.LC.FTS.B,

24.99%,

1/14/25

...

7,694‌

7,628‌

185196514.LC.FTS.B,

12.49%,

1/20/25

...

19,741‌

19,013‌

184962324.LC.FTS.B,

15.19%,

1/20/25

...

4,778‌

4,765‌

185185967.LC.FTS.B,

15.99%,

1/20/25

...

5,705‌

5,496‌

185214272.LC.FTS.B,

15.99%,

1/20/25

...

6,214‌

6,198‌

185305116.LC.FTS.B,

16.19%,

1/20/25

...

9,562‌

9,448‌

185206461.LC.FTS.B,

16.49%,

1/20/25

...

17,215‌

16,930‌

185262402.LC.FTS.B,

18.19%,

1/20/25

...

3,813‌

3,792‌

185216192.LC.FTS.B,

18.99%,

1/20/25

...

19,160‌

19,053‌

185255256.LC.FTS.B,

18.99%,

1/20/25

...

2,874‌

2,858‌

185256218.LC.FTS.B,

18.99%,

1/20/25

...

2,874‌

2,858‌

185054013.LC.FTS.B,

19.95%,

1/20/25

...

8,244‌

8,197‌

185238815.LC.FTS.B,

19.99%,

1/20/25

...

9,587‌

9,532‌

185265436.LC.FTS.B,

22.49%,

1/20/25

...

4,801‌

4,769‌

185032039.LC.FTS.B,

18.99%,

1/24/25

...

4,790‌

4,766‌

185284743.LC.FTS.B,

19.99%,

1/24/25

...

20,132‌

19,937‌

185328502.LC.FTS.B,

23.99%,

1/24/25

...

5,710‌

5,674‌

185450425.LC.FTS.B,

12.19%,

1/26/25

...

22,681‌

22,491‌

185500985.LC.FTS.B,

16.19%,

1/26/25

...

23,905‌

23,862‌

185482619.LC.FTS.B,

18.19%,

1/26/25

...

28,725‌

28,601‌

185404943.LC.FTS.B,

19.95%,

1/26/25

...

24,487‌

24,368‌

185480688.LC.FTS.B,

23.99%,

1/26/25

...

9,227‌

9,177‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

37

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

LendingClub

Corp.

-

LCX

PM

(continued)

185502282.LC.FTS.B,

12.74%,

1/28/25

...

$

3,338‌

$

3,343‌

185552695.LC.FTS.B,

16.99%,

1/28/25

...

23,918‌

23,894‌

185400546.LC.FTS.B,

20.49%,

1/28/25

...

23,974‌

23,892‌

185643067.LC.FTS.B,

14.99%,

2/01/25

...

9,178‌

9,239‌

185511719.LC.FTS.B,

15.99%,

2/01/25

...

13,694‌

13,676‌

185704535.LC.FTS.B,

16.49%,

2/01/25

...

24,459‌

24,426‌

185662657.LC.FTS.B,

18.99%,

2/01/25

...

9,792‌

9,751‌

185638468.LC.FTS.B,

22.99%,

2/01/25

...

9,585‌

9,317‌

185804640.LC.FTS.B,

12.99%,

2/03/25

...

13,289‌

13,186‌

185748684.LC.FTS.B,

19.94%,

2/03/25

...

9,795‌

9,759‌

185744461.LC.FTS.B,

19.99%,

2/03/25

...

7,384‌

7,426‌

185415614.LC.FTS.B,

15.99%,

2/07/25

...

4,394‌

4,392‌

185760406.LC.FTS.B,

16.69%,

2/07/25

...

39,136‌

37,852‌

185520172.LC.FTS.B,

17.44%,

2/07/25

...

14,162‌

14,159‌

185040393.LC.FTS.B,

18.44%,

2/07/25

...

5,886‌

5,854‌

185592300.LC.FTS.B,

18.99%,

2/07/25

...

21,487‌

21,618‌

185814684.LC.FTS.B,

18.99%,

2/07/25

...

3,912‌

3,899‌

185821539.LC.FTS.B,

19.99%,

2/07/25

...

11,754‌

11,719‌

185869166.LC.FTS.B,

22.99%,

2/07/25

...

10,589‌

10,543‌

186031262.LC.FTS.B,

14.49%,

2/09/25

...

7,332‌

7,348‌

185887741.LC.FTS.B,

15.99%,

2/09/25

...

9,782‌

9,782‌

185907398.LC.FTS.B,

16.49%,

2/09/25

...

9,392‌

9,392‌

186010475.LC.FTS.B,

17.94%,

2/09/25

...

9,788‌

9,788‌

185994726.LC.FTS.B,

18.49%,

2/09/25

...

18,145‌

18,125‌

186036682.LC.FTS.B,

18.99%,

2/09/25

...

24,479‌

24,421‌

186109333.LC.FTS.B,

18.99%,

2/11/25

...

4,896‌

4,890‌

186079988.LC.FTS.B,

20.99%,

2/11/25

...

14,697‌

14,677‌

186099444.LC.FTS.B,

20.99%,

2/11/25

...

20,637‌

20,609‌

185937500.LC.FTS.B,

22.49%,

2/11/25

...

27,448‌

27,383‌

185869462.LC.FTS.B,

14.99%,

2/15/25

...

4,889‌

4,905‌

186235317.LC.FTS.B,

15.99%,

2/15/25

...

8,337‌

8,406‌

186218827.LC.FTS.B,

20.44%,

2/15/25

...

19,593‌

19,579‌

186171654.LC.FTS.B,

22.99%,

2/15/25

...

24,511‌

24,470‌

187015036.LC.FTS.B,

12.49%,

3/10/25

...

35,000‌

34,916‌

187039985.LC.FTS.B,

18.99%,

3/10/25

...

10,000‌

10,046‌

187006823.LC.FTS.B,

7.09%,

3/11/25

....

40,000‌

38,410‌

186898312.LC.FTS.B,

12.49%,

3/11/25

...

35,000‌

34,232‌

187034378.LC.FTS.B,

14.49%,

3/11/25

...

35,000‌

34,730‌

187041967.LC.FTS.B,

17.99%,

3/11/25

...

7,525‌

7,533‌

186935631.LC.FTS.B,

24.99%,

3/11/25

...

4,000‌

4,016‌

187002032.LC.FTS.B,

7.59%,

3/14/25

...

40,000‌

38,408‌

186336075.LC.FTS.B,

11.49%,

3/14/25

...

35,000‌

34,089‌

186484159.LC.FTS.B,

12.49%,

3/14/25

...

32,000‌

31,605‌

187105654.LC.FTS.B,

23.19%,

3/14/25

...

7,700‌

7,734‌

187131162.LC.FTS.B,

23.99%,

3/14/25

...

10,000‌

10,044‌

187229799.LC.FTS.B,

13.19%,

3/15/25

...

17,375‌

17,500‌

187080057.LC.FTS.B,

15.99%,

3/17/25

...

7,000‌

7,051‌

187276072.LC.FTS.B,

21.79%,

3/17/25

...

10,000‌

10,061‌

186721205.LC.FTS.B,

19.49%,

3/18/25

...

10,000‌

10,069‌

187360350.LC.FTS.B,

13.99%,

3/21/25

...

13,000‌

13,117‌

187345204.LC.FTS.B,

15.44%,

3/21/25

...

13,000‌

13,037‌

187341073.LC.FTS.B,

16.99%,

3/21/25

...

2,500‌

2,519‌

187594459.LC.FTS.B,

16.39%,

3/25/25

...

18,000‌

18,074‌

187506074.LC.FTS.B,

17.39%,

3/25/25

...

40,000‌

38,968‌

187617463.LC.FTS.B,

23.99%,

3/25/25

...

6,500‌

6,556‌

187637002.LC.FTS.B,

15.99%,

3/28/25

...

24,500‌

24,729‌

187490013.LC.FTS.B,

16.19%,

3/28/25

...

21,000‌

21,102‌

187639145.LC.FTS.B,

20.79%,

3/28/25

...

20,000‌

20,183‌

Description

Principal

Amount

Value

LendingClub

Corp.

-

LCX

PM

(continued)

187610602.LC.FTS.B,

24.79%,

3/28/25

...

$

25,000‌

$

25,224‌

187636332.LC.FTS.B,

15.19%,

3/30/25

...

3,000‌

3,000‌

187766053.LC.FTS.B,

17.44%,

3/30/25

...

30,000‌

30,000‌

171345622.LC.FTS.B,

16.08%,

10/19/25

..

11,884‌

11,238‌

172368060.LC.FTS.B,

Zero

Cpn,

11/27/25

22,662‌

11,212‌

173744601.LC.FTS.B,

18.19%,

1/25/26

...

4,200‌

4,106‌

174039720.LC.FTS.B,

21.99%,

1/25/26

...

15,359‌

14,939‌

173608489.LC.FTS.B,

17.3%,

2/02/26

...

18,353‌

17,337‌

174304247.LC.FTS.B,

20.99%,

2/02/26

...

24,994‌

24,285‌

184468285.LC.FTS.B,

16.99%,

1/14/27

...

13,699‌

13,078‌

185001765.LC.FTS.B,

16.99%,

1/14/27

...

30,130‌

29,886‌

185004873.LC.FTS.B,

18.49%,

1/14/27

...

24,483‌

23,620‌

184956364.LC.FTS.B,

18.99%,

1/14/27

...

14,710‌

14,065‌

185018593.LC.FTS.B,

18.99%,

1/14/27

...

21,552‌

20,892‌

185021412.LC.FTS.B,

21.99%,

1/14/27

...

6,869‌

6,793‌

185267317.LC.FTS.B,

16.44%,

1/20/27

...

14,672‌

14,649‌

185237685.LC.FTS.B,

18.49%,

1/20/27

...

7,040‌

6,989‌

185118480.LC.FTS.B,

19.44%,

1/20/27

...

9,799‌

9,649‌

185250357.LC.FTS.B,

19.99%,

1/20/27

...

16,663‌

16,565‌

185150236.LC.FTS.B,

14.99%,

1/24/27

...

17,591‌

17,441‌

184459999.LC.FTS.B,

15.99%,

1/24/27

...

24,447‌

24,070‌

185332547.LC.FTS.B,

17.49%,

1/24/27

...

2,936‌

2,933‌

185319960.LC.FTS.B,

19.49%,

1/24/27

...

24,497‌

24,369‌

184898062.LC.FTS.B,

21.49%,

1/24/27

...

9,785‌

9,699‌

185367638.LC.FTS.B,

21.49%,

1/24/27

...

23,544‌

23,340‌

184898702.LC.FTS.B,

21.99%,

1/24/27

...

27,475‌

27,235‌

185504181.LC.FTS.B,

16.49%,

1/26/27

...

6,260‌

6,256‌

185470088.LC.FTS.B,

19.99%,

1/26/27

...

9,963‌

9,942‌

185497213.LC.FTS.B,

20.49%,

1/26/27

...

11,765‌

11,709‌

185117236.LC.FTS.B,

20.99%,

1/26/27

...

23,537‌

23,422‌

185491610.LC.FTS.B,

23.99%,

1/26/27

...

9,959‌

9,955‌

185508604.LC.FTS.B,

23.99%,

1/26/27

...

13,706‌

13,591‌

185498696.LC.FTS.B,

26.49%,

1/26/27

...

24,588‌

24,377‌

185488281.LC.FTS.B,

28.99%,

1/26/27

...

6,893‌

6,832‌

184791777.LC.FTS.B,

13.74%,

1/28/27

...

11,718‌

11,630‌

185597588.LC.FTS.B,

16.24%,

1/28/27

...

12,714‌

12,715‌

184927006.LC.FTS.B,

16.99%,

1/28/27

...

34,246‌

34,081‌

185537726.LC.FTS.B,

17.24%,

1/28/27

...

7,786‌

7,768‌

185500402.LC.FTS.B,

17.74%,

1/28/27

...

29,367‌

28,091‌

185544780.LC.FTS.B,

18.99%,

1/28/27

...

34,720‌

34,626‌

185547681.LC.FTS.B,

19.99%,

1/28/27

...

9,557‌

9,521‌

185589460.LC.FTS.B,

24.99%,

1/28/27

...

13,237‌

13,136‌

185561456.LC.FTS.B,

27.49%,

1/28/27

...

25,000‌

25,085‌

184982732.LC.FTS.B,

16.99%,

2/01/27

...

14,840‌

14,830‌

185570839.LC.FTS.B,

19.74%,

2/01/27

...

34,134‌

33,210‌

185679797.LC.FTS.B,

23.99%,

2/01/27

...

24,781‌

24,607‌

185682815.LC.FTS.B,

23.99%,

2/01/27

...

11,325‌

11,245‌

185689957.LC.FTS.B,

23.99%,

2/01/27

...

9,912‌

9,843‌

185699989.LC.FTS.B,

23.99%,

2/01/27

...

9,912‌

9,843‌

185632534.LC.FTS.B,

24.99%,

2/01/27

...

14,966‌

15,019‌

184678406.LC.FTS.B,

17.49%,

2/03/27

...

10,884‌

10,880‌

185716515.LC.FTS.B,

17.49%,

2/03/27

...

15,831‌

15,826‌

185420752.LC.FTS.B,

20.99%,

2/03/27

...

29,713‌

29,622‌

185599708.LC.FTS.B,

21.99%,

2/03/27

...

9,412‌

9,352‌

185610897.LC.FTS.B,

23.99%,

2/03/27

...

7,700‌

7,647‌

185738415.LC.FTS.B,

24.99%,

2/03/27

...

14,377‌

14,451‌

185662157.LC.FTS.B,

16.49%,

2/07/27

...

17,805‌

17,807‌

185742276.LC.FTS.B,

19.49%,

2/07/27

...

29,701‌

29,345‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

38

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

LendingClub

Corp.

-

LCX

PM

(continued)

185835140.LC.FTS.B,

21.99%,

2/07/27

...

$

19,814‌

$

19,703‌

185237174.LC.FTS.B,

13.24%,

2/09/27

...

10,376‌

10,307‌

185942868.LC.FTS.B,

15.94%,

2/09/27

...

31,775‌

31,079‌

186027871.LC.FTS.B,

18.99%,

2/09/27

...

22,702‌

22,873‌

186031699.LC.FTS.B,

20.44%,

2/09/27

...

12,874‌

12,848‌

186007586.LC.FTS.B,

23.49%,

2/09/27

...

12,686‌

12,622‌

185994715.LC.FTS.B,

23.99%,

2/09/27

...

14,868‌

14,793‌

185970580.LC.FTS.B,

13.94%,

2/11/27

...

30,640‌

28,684‌

186099084.LC.FTS.B,

21.49%,

2/11/27

...

14,859‌

14,804‌

185846086.LC.FTS.B,

21.99%,

2/11/27

...

23,777‌

23,690‌

185889703.LC.FTS.B,

21.99%,

2/11/27

...

29,923‌

30,150‌

186241368.LC.FTS.B,

15.49%,

2/15/27

...

31,644‌

31,702‌

186058311.LC.FTS.B,

15.69%,

2/15/27

...

39,557‌

36,960‌

186203908.LC.FTS.B,

21.99%,

2/15/27

...

24,768‌

24,694‌

186522043.LC.FTS.B,

14.94%,

3/10/27

...

6,000‌

6,041‌

187037217.LC.FTS.B,

18.49%,

3/10/27

...

7,750‌

7,790‌

186943464.LC.FTS.B,

18.99%,

3/10/27

...

20,000‌

19,320‌

187047351.LC.FTS.B,

19.49%,

3/10/27

...

18,000‌

18,092‌

187016641.LC.FTS.B,

22.49%,

3/10/27

...

40,000‌

40,009‌

187054481.LC.FTS.B,

22.49%,

3/10/27

...

25,000‌

25,095‌

186904219.LC.FTS.B,

17.19%,

3/11/27

...

15,000‌

14,947‌

187071023.LC.FTS.B,

17.99%,

3/11/27

...

15,000‌

15,093‌

186901660.LC.FTS.B,

18.19%,

3/11/27

...

24,000‌

24,129‌

187032664.LC.FTS.B,

20.99%,

3/11/27

...

20,000‌

20,106‌

187074112.LC.FTS.B,

21.99%,

3/11/27

...

16,000‌

16,067‌

186654687.LC.FTS.B,

23.49%,

3/11/27

...

18,200‌

18,275‌

187106181.LC.FTS.B,

16.99%,

3/14/27

...

10,000‌

10,065‌

187083776.LC.FTS.B,

23.99%,

3/14/27

...

8,000‌

8,035‌

187126669.LC.FTS.B,

14.19%,

3/15/27

...

22,000‌

20,973‌

187035884.LC.FTS.B,

16.29%,

3/15/27

...

30,000‌

27,992‌

187202054.LC.FTS.B,

19.49%,

3/15/27

...

22,150‌

22,280‌

187178718.LC.FTS.B,

19.99%,

3/15/27

...

23,000‌

22,683‌

187214955.LC.FTS.B,

20.99%,

3/15/27

...

10,000‌

10,058‌

186624355.LC.FTS.B,

21.49%,

3/15/27

...

11,200‌

11,090‌

186652351.LC.FTS.B,

23.99%,

3/15/27

...

30,000‌

29,648‌

187235906.LC.FTS.B,

13.19%,

3/16/27

...

30,000‌

30,226‌

187248536.LC.FTS.B,

13.19%,

3/16/27

...

13,000‌

13,098‌

187147644.LC.FTS.B,

14.69%,

3/16/27

...

33,000‌

31,949‌

187028667.LC.FTS.B,

20.99%,

3/17/27

...

16,000‌

16,109‌

187080092.LC.FTS.B,

20.99%,

3/17/27

...

24,000‌

24,164‌

187252598.LC.FTS.B,

20.99%,

3/17/27

...

11,200‌

11,277‌

187274006.LC.FTS.B,

21.99%,

3/17/27

...

9,100‌

9,156‌

187131268.LC.FTS.B,

23.99%,

3/17/27

...

26,425‌

26,585‌

187306434.LC.FTS.B,

24.99%,

3/17/27

...

5,000‌

5,030‌

187282723.LC.FTS.B,

25.99%,

3/17/27

...

20,000‌

20,120‌

187359933.LC.FTS.B,

14.99%,

3/18/27

...

9,600‌

9,583‌

187192813.LC.FTS.B,

20.49%,

3/18/27

...

10,000‌

10,071‌

187318217.LC.FTS.B,

20.49%,

3/18/27

...

28,000‌

28,199‌

186635756.LC.FTS.B,

21.99%,

3/18/27

...

10,000‌

10,064‌

187318907.LC.FTS.B,

23.99%,

3/18/27

...

11,000‌

11,070‌

187345456.LC.FTS.B,

25.99%,

3/18/27

...

25,000‌

25,158‌

187350401.LC.FTS.B,

15.19%,

3/21/27

...

15,000‌

15,119‌

187159940.LC.FTS.B,

17.19%,

3/21/27

...

9,500‌

9,575‌

186875668.LC.FTS.B,

17.74%,

3/21/27

...

18,000‌

18,142‌

187352723.LC.FTS.B,

18.99%,

3/21/27

...

24,000‌

24,178‌

187352932.LC.FTS.B,

21.99%,

3/21/27

...

15,000‌

15,102‌

187402362.LC.FTS.B,

21.99%,

3/21/27

...

13,000‌

13,088‌

187316257.LC.FTS.B,

22.49%,

3/21/27

...

20,000‌

20,135‌

Description

Principal

Amount

Value

LendingClub

Corp.

-

LCX

PM

(continued)

187336721.LC.FTS.B,

22.99%,

3/21/27

...

$

26,400‌

$

26,578‌

187100244.LC.FTS.B,

24.99%,

3/21/27

...

12,000‌

12,080‌

187399946.LC.FTS.B,

25.99%,

3/21/27

...

4,200‌

4,228‌

187492389.LC.FTS.B,

18.99%,

3/25/27

...

5,600‌

5,650‌

187187665.LC.FTS.B,

20.49%,

3/25/27

...

20,000‌

20,000‌

187585267.LC.FTS.B,

20.49%,

3/25/27

...

9,000‌

9,080‌

187535555.LC.FTS.B,

20.99%,

3/25/27

...

30,000‌

29,988‌

187598322.LC.FTS.B,

21.99%,

3/25/27

...

25,000‌

25,218‌

187547364.LC.FTS.B,

23.19%,

3/25/27

...

13,000‌

13,113‌

187584837.LC.FTS.B,

23.49%,

3/25/27

...

17,000‌

17,148‌

187349433.LC.FTS.B,

23.99%,

3/25/27

...

21,000‌

21,182‌

187430105.LC.FTS.B,

25.99%,

3/25/27

...

12,000‌

12,103‌

187525270.LC.FTS.B,

25.99%,

3/25/27

...

21,600‌

21,786‌

187593197.LC.FTS.B,

13.19%,

3/28/27

...

26,000‌

26,116‌

187600393.LC.FTS.B,

13.19%,

3/28/27

...

12,000‌

12,114‌

187611207.LC.FTS.B,

18.99%,

3/28/27

...

20,000‌

19,985‌

186696299.LC.FTS.B,

19.99%,

3/28/27

...

20,600‌

20,789‌

187609544.LC.FTS.B,

19.99%,

3/28/27

...

20,000‌

20,184‌

187644231.LC.FTS.B,

19.99%,

3/28/27

...

18,000‌

18,165‌

186713472.LC.FTS.B,

20.99%,

3/28/27

...

17,500‌

17,660‌

187621983.LC.FTS.B,

20.99%,

3/28/27

...

13,000‌

13,119‌

187587561.LC.FTS.B,

23.99%,

3/28/27

...

21,600‌

21,606‌

187636626.LC.FTS.B,

23.99%,

3/28/27

...

15,400‌

15,539‌

187670705.LC.FTS.B,

17.44%,

3/29/27

...

40,000‌

40,000‌

187060479.LC.FTS.B,

20.49%,

3/29/27

...

30,000‌

30,000‌

187264368.LC.FTS.B,

20.99%,

3/29/27

...

10,000‌

10,000‌

187353272.LC.FTS.B,

21.49%,

3/29/27

...

24,000‌

24,000‌

187742500.LC.FTS.B,

21.99%,

3/29/27

...

8,500‌

8,500‌

187710171.LC.FTS.B,

22.49%,

3/29/27

...

34,325‌

34,325‌

187337224.LC.FTS.B,

23.49%,

3/29/27

...

40,000‌

40,000‌

187764055.LC.FTS.B,

24.99%,

3/29/27

...

10,000‌

10,000‌

187776036.LC.FTS.B,

13.19%,

3/30/27

...

8,000‌

8,000‌

187454041.LC.FTS.B,

16.99%,

3/30/27

...

28,800‌

28,800‌

187772972.LC.FTS.B,

18.99%,

3/30/27

...

20,000‌

20,000‌

187581793.LC.FTS.B,

19.99%,

3/30/27

...

15,000‌

15,000‌

187751574.LC.FTS.B,

20.44%,

3/30/27

...

32,400‌

32,400‌

187614352.LC.FTS.B,

20.99%,

3/30/27

...

25,000‌

25,000‌

187683423.LC.FTS.B,

20.99%,

3/30/27

...

20,000‌

20,000‌

187759921.LC.FTS.B,

20.99%,

3/30/27

...

35,000‌

35,000‌

187803201.LC.FTS.B,

20.99%,

3/30/27

...

8,500‌

8,500‌

187775878.LC.FTS.B,

21.49%,

3/30/27

...

20,000‌

20,000‌

187792928.LC.FTS.B,

23.99%,

3/30/27

...

7,500‌

7,500‌

187804219.LC.FTS.B,

25.99%,

3/30/27

...

8,000‌

8,000‌

4,292,187‌

Prosper

Funding

LLC

1608023.PS.FTS.B,

13.5%,

8/19/24

.....

7,520‌

7,308‌

1618173.PS.FTS.B,

16.8%,

8/19/24

.....

5,915‌

5,710‌

1618560.PS.FTS.B,

24.6%,

8/20/24

.....

1,716‌

1,656‌

1619001.PS.FTS.B,

13.56%,

8/23/24

....

16,629‌

16,179‌

1618176.PS.FTS.B,

15.1%,

8/23/24

.....

2,521‌

2,434‌

1619013.PS.FTS.B,

16.1%,

8/23/24

.....

2,943‌

2,840‌

1619010.PS.FTS.B,

17%,

8/23/24

.......

6,742‌

6,504‌

1612279.PS.FTS.B,

17.1%,

8/23/24

.....

2,529‌

2,442‌

1620123.PS.FTS.B,

14.09%,

8/24/24

....

6,696‌

6,516‌

1610345.PS.FTS.B,

19%,

8/24/24

.......

1,694‌

1,636‌

1613755.PS.FTS.B,

24.6%,

8/24/24

.....

1,715‌

1,660‌

1620576.PS.FTS.B,

16.6%,

8/25/24

.....

4,212‌

4,065‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

39

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Prosper

Funding

LLC

(continued)

1610381.PS.FTS.B,

19%,

8/25/24

.......

$

5,928‌

$

5,730‌

1614442.PS.FTS.B,

24.6%,

8/25/24

.....

3,860‌

3,738‌

1610672.PS.FTS.B,

24.8%,

8/25/24

.....

1,798‌

1,740‌

1614934.PS.FTS.B,

13.4%,

8/26/24

.....

2,922‌

2,846‌

1614493.PS.FTS.B,

14.89%,

8/26/24

....

2,096‌

2,025‌

1615996.PS.FTS.B,

16.8%,

8/30/24

.....

2,598‌

2,551‌

1609517.PS.FTS.B,

15.2%,

8/31/24

.....

17,310‌

16,787‌

1625623.PS.FTS.B,

13.66%,

9/16/24

....

3,869‌

3,764‌

1623869.PS.FTS.B,

14.19%,

9/21/24

....

4,304‌

4,234‌

1623890.PS.FTS.B,

15.86%,

9/21/24

....

4,215‌

4,071‌

1623875.PS.FTS.B,

16%,

9/21/24

.......

9,196‌

430‌

1634202.PS.FTS.B,

17.49%,

9/21/24

....

19,934‌

19,247‌

1623878.PS.FTS.B,

17.96%,

9/21/24

....

1,735‌

1,675‌

1633995.PS.FTS.B,

19.8%,

9/21/24

.....

9,142‌

8,817‌

1628572.PS.FTS.B,

12.9%,

9/22/24

.....

1,780‌

1,745‌

1628602.PS.FTS.B,

13%,

9/22/24

.......

4,293‌

4,183‌

1628368.PS.FTS.B,

20.57%,

9/22/24

....

17,333‌

16,724‌

1625354.PS.FTS.B,

13%,

9/23/24

.......

12,020‌

11,717‌

1635849.PS.FTS.B,

13.59%,

9/23/24

....

6,877‌

6,647‌

1625321.PS.FTS.B,

17.96%,

9/23/24

....

8,675‌

8,383‌

1612918.PS.FTS.B,

20.9%,

9/23/24

.....

9,023‌

7,521‌

1636917.PS.FTS.B,

12.02%,

9/24/24

....

5,998‌

5,848‌

1630159.PS.FTS.B,

12.3%,

9/24/24

.....

2,572‌

2,508‌

1626641.PS.FTS.B,

13%,

9/24/24

.......

10,303‌

10,046‌

1636029.PS.FTS.B,

13.7%,

9/24/24

.....

4,299‌

4,192‌

1626488.PS.FTS.B,

13.9%,

9/24/24

.....

6,022‌

5,871‌

1626389.PS.FTS.B,

14.31%,

9/24/24

....

3,444‌

3,330‌

1630138.PS.FTS.B,

14.39%,

9/24/24

....

1,996‌

1,940‌

1630150.PS.FTS.B,

15.03%,

9/24/24

....

3,449‌

3,335‌

1626380.PS.FTS.B,

17.8%,

9/24/24

.....

12,141‌

11,731‌

1626998.PS.FTS.B,

11.7%,

9/27/24

.....

2,892‌

2,824‌

1630306.PS.FTS.B,

11.7%,

9/27/24

.....

12,843‌

12,532‌

1630498.PS.FTS.B,

12.4%,

9/27/24

.....

11,148‌

10,877‌

1637430.PS.FTS.B,

14.7%,

9/27/24

.....

7,324‌

7,090‌

1627091.PS.FTS.B,

16%,

9/27/24

.......

11,233‌

10,872‌

1630435.PS.FTS.B,

16.9%,

9/27/24

.....

18,525‌

17,930‌

1628009.PS.FTS.B,

15.5%,

9/28/24

.....

4,881‌

4,739‌

1628039.PS.FTS.B,

18.41%,

9/28/24

....

2,952‌

2,858‌

1632463.PS.FTS.B,

16.5%,

9/29/24

.....

8,887‌

8,610‌

1637622.PS.FTS.B,

16.6%,

10/02/24

....

2,668‌

2,600‌

1636266.PS.FTS.B,

15.2%,

10/04/24

....

8,905‌

8,667‌

1637586.PS.FTS.B,

16%,

10/10/24

......

8,881‌

8,654‌

1648303.PS.FTS.B,

16%,

10/26/24

......

8,875‌

8,610‌

1655001.PS.FTS.B,

16%,

10/26/24

......

1,775‌

1,719‌

1655361.PS.FTS.B,

10.8%,

10/27/24

....

4,108‌

4,024‌

1645250.PS.FTS.B,

13.7%,

10/27/24

....

3,536‌

3,432‌

1655370.PS.FTS.B,

15.29%,

10/27/24

...

3,546‌

3,441‌

1648627.PS.FTS.B,

16.1%,

10/27/24

....

312‌

312‌

1649503.PS.FTS.B,

11.5%,

10/28/24

....

17,610‌

17,230‌

1649281.PS.FTS.B,

11.7%,

10/28/24

....

8,808‌

8,618‌

1646051.PS.FTS.B,

11.79%,

10/28/24

....

8,810‌

8,620‌

1649506.PS.FTS.B,

14.56%,

10/28/24

...

13,280‌

12,993‌

1656375.PS.FTS.B,

17%,

10/28/24

......

2,667‌

2,585‌

1656474.PS.FTS.B,

18.9%,

10/28/24

....

3,568‌

3,458‌

1646441.PS.FTS.B,

11.7%,

10/29/24

....

13,582‌

13,292‌

1656663.PS.FTS.B,

11.86%,

10/29/24

....

5,887‌

5,761‌

1646795.PS.FTS.B,

13.9%,

10/29/24

....

9,992‌

9,705‌

1646834.PS.FTS.B,

15.4%,

10/29/24

....

30,769‌

29,885‌

Description

Principal

Amount

Value

Prosper

Funding

LLC

(continued)

1646519.PS.FTS.B,

22.6%,

10/29/24

....

$

6,865‌

$

262‌

1648019.PS.FTS.B,

12%,

11/01/24

......

4,395‌

533‌

1651180.PS.FTS.B,

14.89%,

11/01/24

....

18,178‌

17,525‌

1647482.PS.FTS.B,

17.54%,

11/01/24

....

3,909‌

3,743‌

1648862.PS.FTS.B,

20.34%,

11/02/24

....

6,866‌

6,574‌

1649965.PS.FTS.B,

17.2%,

11/04/24

....

9,145‌

8,927‌

1650986.PS.FTS.B,

11.55%,

11/05/24

....

1,147‌

1,144‌

1654753.PS.FTS.B,

11.89%,

11/05/24

....

2,670‌

2,605‌

1650980.PS.FTS.B,

12.29%,

11/05/24

....

17,196‌

16,776‌

1654294.PS.FTS.B,

14.56%,

11/05/24

....

13,627‌

13,293‌

1650983.PS.FTS.B,

15.1%,

11/05/24

....

5,458‌

5,270‌

1654747.PS.FTS.B,

15.89%,

11/05/24

....

3,550‌

3,462‌

1660971.PS.FTS.B,

16.6%,

11/05/24

....

10,932‌

10,555‌

1647320.PS.FTS.B,

13.3%,

11/06/24

....

13,646‌

13,370‌

1651820.PS.FTS.B,

12.2%,

11/08/24

....

10,413‌

10,166‌

1658119.PS.FTS.B,

12.65%,

11/08/24

....

8,155‌

7,961‌

1658125.PS.FTS.B,

13.87%,

11/08/24

....

7,261‌

7,020‌

1651811.PS.FTS.B,

14.6%,

11/08/24

.....

4,088‌

3,953‌

1658116.PS.FTS.B,

14.6%,

11/08/24

.....

4,679‌

2,576‌

1658437.PS.FTS.B,

14.6%,

11/08/24

....

13,628‌

13,175‌

1664799.PS.FTS.B,

15.1%,

11/08/24

....

18,172‌

17,568‌

1664823.PS.FTS.B,

16%,

11/08/24

......

1,821‌

1,760‌

1664817.PS.FTS.B,

16.2%,

11/08/24

....

1,821‌

1,750‌

1664820.PS.FTS.B,

18.5%,

11/08/24

....

18,266‌

17,551‌

1658122.PS.FTS.B,

19.56%,

11/08/24

....

15,003‌

14,415‌

1652738.PS.FTS.B,

10.8%,

11/09/24

....

3,630‌

3,560‌

1652447.PS.FTS.B,

12%,

11/09/24

......

2,263‌

2,210‌

1667217.PS.FTS.B,

9.71%,

11/10/24

....

7,218‌

7,051‌

1656186.PS.FTS.B,

13.41%,

11/10/24

....

15,437‌

15,120‌

1667205.PS.FTS.B,

13.7%,

11/10/24

....

5,346‌

5,224‌

1660369.PS.FTS.B,

15.89%,

11/10/24

....

22,753‌

22,223‌

1646069.PS.FTS.B,

11.7%,

11/11/24

.....

7,184‌

7,080‌

1661251.PS.FTS.B,

16.7%,

11/12/24

....

7,745‌

7,459‌

1655423.PS.FTS.B,

15.39%,

11/15/24

....

18,190‌

17,790‌

1670433.PS.FTS.B,

16.02%,

11/16/24

....

4,551‌

4,393‌

1673226.PS.FTS.B,

18.41%,

11/22/24

....

7,762‌

7,545‌

1678333.PS.FTS.B,

12%,

12/14/24

......

6,040‌

5,928‌

1672694.PS.FTS.B,

13.36%,

12/14/24

...

4,653‌

4,567‌

1672271.PS.FTS.B,

13.59%,

12/14/24

...

8,843‌

8,610‌

1672649.PS.FTS.B,

14%,

12/14/24

......

13,969‌

13,600‌

1678330.PS.FTS.B,

14.39%,

12/14/24

...

7,919‌

7,710‌

1672679.PS.FTS.B,

15.12%,

12/14/24

...

1,865‌

1,815‌

1678708.PS.FTS.B,

16.7%,

12/14/24

....

9,338‌

9,091‌

1685598.PS.FTS.B,

16.8%,

12/14/24

....

4,670‌

4,546‌

1678318.PS.FTS.B,

19.1%,

12/14/24

....

10,296‌

9,968‌

1685604.PS.FTS.B,

19.6%,

12/14/24

....

1,802‌

1,745‌

1672946.PS.FTS.B,

13.81%,

12/15/24

...

22,625‌

22,209‌

1673333.PS.FTS.B,

13.96%,

12/15/24

...

7,450‌

7,313‌

1685970.PS.FTS.B,

14.09%,

12/15/24

...

9,313‌

9,071‌

1672937.PS.FTS.B,

15.5%,

12/15/24

....

13,990‌

13,626‌

1685919.PS.FTS.B,

16.7%,

12/15/24

....

21,478‌

20,918‌

1672931.PS.FTS.B,

16.9%,

12/15/24

....

18,680‌

18,193‌

1685940.PS.FTS.B,

17%,

12/15/24

......

1,868‌

1,810‌

1685934.PS.FTS.B,

18.41%,

12/15/24

...

3,742‌

3,644‌

1673135.PS.FTS.B,

22.6%,

12/15/24

....

1,891‌

1,838‌

1673894.PS.FTS.B,

11.79%,

12/16/24

....

6,504‌

6,386‌

1680064.PS.FTS.B,

15.8%,

12/16/24

....

3,732‌

3,636‌

1680178.PS.FTS.B,

16.95%,

12/16/24

...

14,011‌

13,651‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

40

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Prosper

Funding

LLC

(continued)

1680763.PS.FTS.B,

14%,

12/17/24

......

$

9,312‌

$

9,078‌

1687713.PS.FTS.B,

16.1%,

12/17/24

....

6,999‌

6,822‌

1680136.PS.FTS.B,

10.8%,

12/20/24

....

6,505‌

6,419‌

1674923.PS.FTS.B,

16%,

12/20/24

......

13,064‌

12,691‌

1682398.PS.FTS.B,

17.8%,

12/21/24

....

23,371‌

22,714‌

1684060.PS.FTS.B,

24.09%,

12/23/24

...

14,107‌

13,697‌

1693036.PS.FTS.B,

13%,

1/11/25

.......

23,549‌

23,192‌

1700988.PS.FTS.B,

10.8%,

1/12/25

.....

7,615‌

7,502‌

1688222.PS.FTS.B,

11.5%,

1/12/25

.....

8,789‌

8,674‌

1700688.PS.FTS.B,

13%,

1/12/25

.......

9,534‌

9,392‌

1687916.PS.FTS.B,

13.13%,

1/12/25

....

11,442‌

11,197‌

1693783.PS.FTS.B,

13.6%,

1/12/25

.....

2,861‌

2,800‌

1694200.PS.FTS.B,

13.6%,

1/12/25

.....

1,869‌

1,859‌

1693810.PS.FTS.B,

13.7%,

1/12/25

.....

8,545‌

8,361‌

1700679.PS.FTS.B,

13.8%,

1/12/25

.....

14,309‌

14,095‌

1688228.PS.FTS.B,

15.5%,

1/12/25

.....

4,106‌

4,018‌

1694194.PS.FTS.B,

24.4%,

1/12/25

.....

2,892‌

2,830‌

1688984.PS.FTS.B,

13.8%,

1/13/25

.....

17,170‌

16,918‌

1701405.PS.FTS.B,

14.94%,

1/13/25

....

9,546‌

9,345‌

1701438.PS.FTS.B,

15.07%,

1/13/25

....

19,094‌

18,813‌

1695061.PS.FTS.B,

15.7%,

1/13/25

.....

8,118‌

7,947‌

1695040.PS.FTS.B,

16.7%,

1/13/25

.....

14,336‌

14,032‌

1695043.PS.FTS.B,

16.7%,

1/13/25

.....

19,114‌

18,610‌

1689398.PS.FTS.B,

15.4%,

1/14/25

.....

5,729‌

5,611‌

1702395.PS.FTS.B,

16.3%,

1/14/25

.....

3,344‌

3,258‌

1689236.PS.FTS.B,

17.59%,

1/14/25

....

4,781‌

4,657‌

1689656.PS.FTS.B,

23%,

1/14/25

.......

14,391‌

13,979‌

1695748.PS.FTS.B,

24.4%,

1/14/25

.....

1,920‌

1,865‌

1690268.PS.FTS.B,

11.4%,

1/18/25

.....

4,762‌

4,698‌

1690376.PS.FTS.B,

14.04%,

1/18/25

....

11,449‌

11,229‌

1703232.PS.FTS.B,

21%,

1/18/25

.......

1,917‌

1,867‌

1704948.PS.FTS.B,

13.05%,

1/19/25

....

12,395‌

12,231‌

1704135.PS.FTS.B,

15.8%,

1/19/25

.....

33,431‌

32,800‌

1704396.PS.FTS.B,

17.8%,

1/19/25

.....

1,913‌

1,868‌

1694525.PS.FTS.B,

22.03%,

1/24/25

....

6,925‌

5,906‌

1698164.PS.FTS.B,

22.7%,

1/28/25

.....

1,919‌

1,881‌

1705293.PS.FTS.B,

14.79%,

1/29/25

....

6,846‌

6,769‌

1694638.PS.FTS.B,

21.8%,

2/06/25

.....

7,581‌

7,380‌

1707662.PS.FTS.B,

13.9%,

2/14/25

.....

5,859‌

5,778‌

1720698.PS.FTS.B,

14.41%,

2/14/25

....

12,697‌

12,574‌

1720668.PS.FTS.B,

16.95%,

2/14/25

....

24,434‌

24,092‌

1720674.PS.FTS.B,

22.6%,

2/14/25

.....

1,958‌

1,918‌

1714348.PS.FTS.B,

24.4%,

2/14/25

.....

5,876‌

5,755‌

1714522.PS.FTS.B,

11.5%,

2/15/25

.....

10,734‌

10,635‌

1721094.PS.FTS.B,

12.69%,

2/15/25

....

19,524‌

19,262‌

1721649.PS.FTS.B,

13.3%,

2/15/25

.....

29,291‌

29,017‌

1721043.PS.FTS.B,

13.5%,

2/15/25

.....

9,764‌

9,673‌

1714735.PS.FTS.B,

13.6%,

2/15/25

.....

8,593‌

8,477‌

1708097.PS.FTS.B,

13.7%,

2/15/25

.....

6,347‌

6,262‌

1714504.PS.FTS.B,

14.89%,

2/15/25

....

4,884‌

4,818‌

1714807.PS.FTS.B,

15.29%,

2/15/25

....

3,419‌

3,373‌

1720839.PS.FTS.B,

15.29%,

2/15/25

....

2,931‌

2,891‌

1720845.PS.FTS.B,

15.29%,

2/15/25

....

1,954‌

1,927‌

1714516.PS.FTS.B,

15.4%,

2/15/25

.....

11,723‌

11,565‌

1721055.PS.FTS.B,

16%,

2/15/25

.......

5,863‌

5,761‌

1715005.PS.FTS.B,

16.29%,

2/15/25

....

5,813‌

5,712‌

1708859.PS.FTS.B,

17%,

2/15/25

.......

12,675‌

12,455‌

1708151.PS.FTS.B,

19.5%,

2/15/25

.....

11,737‌

11,531‌

Description

Principal

Amount

Value

Prosper

Funding

LLC

(continued)

1708856.PS.FTS.B,

21.2%,

2/15/25

.....

$

5,382‌

$

5,276‌

1721049.PS.FTS.B,

22%,

2/15/25

.......

9,787‌

9,614‌

1716298.PS.FTS.B,

11.4%,

2/16/25

.....

5,855‌

5,802‌

1709564.PS.FTS.B,

15.2%,

2/16/25

.....

3,908‌

3,856‌

1722108.PS.FTS.B,

18.09%,

2/16/25

....

5,866‌

5,767‌

1722525.PS.FTS.B,

19.5%,

2/16/25

.....

2,575‌

2,557‌

1722444.PS.FTS.B,

22.6%,

2/16/25

.....

1,958‌

1,920‌

1722105.PS.FTS.B,

25.11%,

2/16/25

....

3,918‌

3,842‌

1715815.PS.FTS.B,

25.71%,

2/16/25

....

3,881‌

3,806‌

1710242.PS.FTS.B,

13%,

2/17/25

.......

8,298‌

8,225‌

1717210.PS.FTS.B,

11.4%,

2/18/25

.....

4,879‌

4,838‌

1717363.PS.FTS.B,

17.8%,

2/18/25

.....

11,242‌

11,064‌

1718419.PS.FTS.B,

13.9%,

2/22/25

.....

4,394‌

4,347‌

1718422.PS.FTS.B,

14.09%,

2/22/25

....

10,742‌

10,626‌

1718395.PS.FTS.B,

22.6%,

2/22/25

.....

14,683‌

14,459‌

1707653.PS.FTS.B,

20.16%,

2/28/25

....

14,673‌

14,407‌

1739683.PS.FTS.B,

10.44%,

3/22/25

....

4,000‌

3,993‌

1732931.PS.FTS.B,

10.5%,

3/22/25

.....

15,000‌

14,973‌

1739638.PS.FTS.B,

10.5%,

3/22/25

.....

7,500‌

7,486‌

1733486.PS.FTS.B,

11.7%,

3/22/25

.....

15,000‌

14,973‌

1732964.PS.FTS.B,

11.86%,

3/22/25

....

10,000‌

9,982‌

1732979.PS.FTS.B,

12%,

3/22/25

.......

12,500‌

12,477‌

1743183.PS.FTS.B,

12.06%,

3/22/25

....

4,500‌

4,487‌

1740130.PS.FTS.B,

12.15%,

3/22/25

....

16,500‌

16,453‌

1732925.PS.FTS.B,

12.54%,

3/22/25

....

15,000‌

14,973‌

1740193.PS.FTS.B,

12.9%,

3/22/25

.....

10,000‌

9,982‌

1733219.PS.FTS.B,

13%,

3/22/25

.......

4,000‌

3,993‌

1733510.PS.FTS.B,

13%,

3/22/25

.......

5,000‌

4,991‌

1739665.PS.FTS.B,

13.5%,

3/22/25

.....

17,800‌

17,750‌

1732946.PS.FTS.B,

13.59%,

3/22/25

....

15,000‌

14,958‌

1739680.PS.FTS.B,

13.77%,

3/22/25

....

5,000‌

5,000‌

1733531.PS.FTS.B,

13.9%,

3/22/25

.....

8,000‌

7,977‌

1742658.PS.FTS.B,

13.9%,

3/22/25

.....

7,000‌

6,980‌

1742880.PS.FTS.B,

13.9%,

3/22/25

.....

2,000‌

1,996‌

1742685.PS.FTS.B,

14.09%,

3/22/25

....

10,000‌

9,972‌

1739662.PS.FTS.B,

14.6%,

3/22/25

.....

20,000‌

19,944‌

1740127.PS.FTS.B,

14.89%,

3/22/25

....

5,000‌

4,986‌

1743186.PS.FTS.B,

14.89%,

3/22/25

....

3,700‌

3,690‌

1742688.PS.FTS.B,

15.29%,

3/22/25

....

4,000‌

3,989‌

1743240.PS.FTS.B,

15.29%,

3/22/25

....

7,000‌

6,980‌

1733489.PS.FTS.B,

15.4%,

3/22/25

.....

2,000‌

1,994‌

1742631.PS.FTS.B,

15.4%,

3/22/25

.....

20,000‌

19,944‌

1742661.PS.FTS.B,

16%,

3/22/25

.......

6,500‌

6,482‌

1732934.PS.FTS.B,

16.39%,

3/22/25

....

3,500‌

3,494‌

1732961.PS.FTS.B,

17.7%,

3/22/25

.....

3,000‌

2,988‌

1740157.PS.FTS.B,

17.8%,

3/22/25

.....

10,000‌

9,960‌

1742655.PS.FTS.B,

17.96%,

3/22/25

....

7,000‌

6,981‌

1739644.PS.FTS.B,

18.5%,

3/22/25

.....

10,000‌

9,961‌

1732937.PS.FTS.B,

18.7%,

3/22/25

.....

18,000‌

18,000‌

1733483.PS.FTS.B,

20.4%,

3/22/25

.....

2,500‌

2,490‌

1742667.PS.FTS.B,

20.46%,

3/22/25

....

2,000‌

1,992‌

1743195.PS.FTS.B,

21%,

3/22/25

.......

2,000‌

1,991‌

1740142.PS.FTS.B,

21.2%,

3/22/25

.....

15,000‌

14,929‌

1739659.PS.FTS.B,

22.03%,

3/22/25

....

3,100‌

3,088‌

1740166.PS.FTS.B,

22.5%,

3/22/25

.....

8,500‌

8,467‌

1742646.PS.FTS.B,

22.5%,

3/22/25

.....

8,000‌

7,969‌

1740151.PS.FTS.B,

22.6%,

3/22/25

.....

2,000‌

1,991‌

1742670.PS.FTS.B,

22.6%,

3/22/25

.....

6,500‌

6,469‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

41

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Prosper

Funding

LLC

(continued)

1739668.PS.FTS.B,

24.09%,

3/22/25

....

$

2,000‌

$

1,991‌

1733501.PS.FTS.B,

24.3%,

3/22/25

.....

15,000‌

14,929‌

1743174.PS.FTS.B,

24.4%,

3/22/25

.....

5,000‌

4,976‌

1740133.PS.FTS.B,

24.51%,

3/22/25

....

4,000‌

3,981‌

1739647.PS.FTS.B,

25.11%,

3/22/25

....

10,000‌

9,953‌

1740088.PS.FTS.B,

25.4%,

3/22/25

.....

3,500‌

3,484‌

1742691.PS.FTS.B,

25.4%,

3/22/25

.....

6,000‌

5,972‌

1742673.PS.FTS.B,

25.99%,

3/22/25

....

3,000‌

2,986‌

1740421.PS.FTS.B,

10.5%,

3/23/25

.....

6,000‌

5,991‌

1743354.PS.FTS.B,

10.5%,

3/23/25

.....

6,500‌

6,490‌

1743513.PS.FTS.B,

11.4%,

3/23/25

.....

9,000‌

8,986‌

1733921.PS.FTS.B,

11.79%,

3/23/25

....

4,000‌

4,016‌

1733924.PS.FTS.B,

11.79%,

3/23/25

....

5,000‌

4,992‌

1743504.PS.FTS.B,

11.79%,

3/23/25

....

2,500‌

2,496‌

1740487.PS.FTS.B,

11.86%,

3/23/25

....

10,000‌

9,984‌

1740736.PS.FTS.B,

12%,

3/23/25

.......

4,500‌

4,493‌

1734089.PS.FTS.B,

12.54%,

3/23/25

....

13,000‌

12,980‌

1740982.PS.FTS.B,

13%,

3/23/25

.......

7,000‌

6,989‌

1733798.PS.FTS.B,

13.1%,

3/23/25

.....

16,000‌

15,975‌

1734008.PS.FTS.B,

13.36%,

3/23/25

....

2,042‌

2,039‌

1740478.PS.FTS.B,

13.8%,

3/23/25

.....

25,000‌

24,939‌

1740493.PS.FTS.B,

13.9%,

3/23/25

.....

15,000‌

14,977‌

1733819.PS.FTS.B,

14.49%,

3/23/25

....

10,000‌

9,976‌

1740502.PS.FTS.B,

14.56%,

3/23/25

....

8,000‌

7,988‌

1740799.PS.FTS.B,

14.79%,

3/23/25

....

10,000‌

9,976‌

1734275.PS.FTS.B,

15%,

3/23/25

.......

10,000‌

9,976‌

1733810.PS.FTS.B,

15.1%,

3/23/25

.....

25,000‌

24,940‌

1733825.PS.FTS.B,

15.2%,

3/23/25

.....

10,000‌

9,976‌

1740964.PS.FTS.B,

15.2%,

3/23/25

.....

6,500‌

6,484‌

1743555.PS.FTS.B,

15.2%,

3/23/25

.....

9,900‌

9,876‌

1733942.PS.FTS.B,

15.86%,

3/23/25

....

3,000‌

2,993‌

1733657.PS.FTS.B,

16%,

3/23/25

.......

10,000‌

9,976‌

1734398.PS.FTS.B,

16%,

3/23/25

.......

10,000‌

9,976‌

1740886.PS.FTS.B,

16%,

3/23/25

.......

10,000‌

9,976‌

1744086.PS.FTS.B,

16%,

3/23/25

.......

7,000‌

6,983‌

1740922.PS.FTS.B,

16.3%,

3/23/25

.....

16,000‌

15,945‌

1741156.PS.FTS.B,

16.3%,

3/23/25

.....

6,500‌

6,478‌

1733828.PS.FTS.B,

17%,

3/23/25

.......

6,000‌

5,979‌

1743576.PS.FTS.B,

17.5%,

3/23/25

.....

2,000‌

1,993‌

1740595.PS.FTS.B,

17.8%,

3/23/25

.....

5,000‌

4,983‌

1743846.PS.FTS.B,

17.8%,

3/23/25

.....

12,000‌

11,959‌

1734395.PS.FTS.B,

18.09%,

3/23/25

....

14,000‌

13,952‌

1740373.PS.FTS.B,

18.09%,

3/23/25

....

4,000‌

3,986‌

1741180.PS.FTS.B,

18.9%,

3/23/25

.....

10,000‌

9,966‌

1734401.PS.FTS.B,

19%,

3/23/25

.......

9,000‌

8,969‌

1734419.PS.FTS.B,

19.3%,

3/23/25

.....

6,500‌

6,478‌

1740703.PS.FTS.B,

19.47%,

3/23/25

....

11,500‌

11,461‌

1734161.PS.FTS.B,

19.5%,

3/23/25

.....

2,000‌

1,993‌

1740439.PS.FTS.B,

19.8%,

3/23/25

.....

3,000‌

2,990‌

1743429.PS.FTS.B,

20.01%,

3/23/25

....

10,000‌

9,966‌

1743657.PS.FTS.B,

20.34%,

3/23/25

....

3,000‌

2,990‌

1744005.PS.FTS.B,

20.4%,

3/23/25

.....

10,000‌

9,966‌

1734152.PS.FTS.B,

21.2%,

3/23/25

.....

2,500‌

2,490‌

1740553.PS.FTS.B,

21.5%,

3/23/25

.....

3,500‌

3,488‌

1740613.PS.FTS.B,

21.5%,

3/23/25

.....

3,000‌

2,990‌

1743426.PS.FTS.B,

21.5%,

3/23/25

.....

8,000‌

7,973‌

1733867.PS.FTS.B,

22.13%,

3/23/25

....

4,000‌

3,986‌

1743627.PS.FTS.B,

22.13%,

3/23/25

....

6,000‌

5,980‌

Description

Principal

Amount

Value

Prosper

Funding

LLC

(continued)

1744209.PS.FTS.B,

22.13%,

3/23/25

....

$

4,500‌

$

4,485‌

1733837.PS.FTS.B,

22.6%,

3/23/25

.....

2,000‌

1,992‌

1733912.PS.FTS.B,

22.6%,

3/23/25

.....

6,000‌

5,975‌

1740520.PS.FTS.B,

22.6%,

3/23/25

.....

8,000‌

7,967‌

1740631.PS.FTS.B,

22.6%,

3/23/25

.....

2,000‌

1,992‌

1743495.PS.FTS.B,

22.6%,

3/23/25

.....

2,000‌

1,992‌

1743570.PS.FTS.B,

22.6%,

3/23/25

.....

9,500‌

9,461‌

1743969.PS.FTS.B,

22.6%,

3/23/25

.....

3,000‌

2,988‌

1744029.PS.FTS.B,

22.6%,

3/23/25

.....

4,000‌

3,984‌

1743654.PS.FTS.B,

23.4%,

3/23/25

.....

3,000‌

2,988‌

1743645.PS.FTS.B,

24.3%,

3/23/25

.....

3,000‌

2,988‌

1744230.PS.FTS.B,

24.99%,

3/23/25

....

3,000‌

2,988‌

1734074.PS.FTS.B,

25.56%,

3/23/25

....

15,000‌

14,939‌

1734836.PS.FTS.B,

11.7%,

3/24/25

.....

10,000‌

9,987‌

1744668.PS.FTS.B,

11.79%,

3/24/25

....

6,000‌

5,992‌

1734512.PS.FTS.B,

12.15%,

3/24/25

....

12,000‌

11,975‌

1734848.PS.FTS.B,

13.3%,

3/24/25

.....

20,000‌

19,974‌

1741714.PS.FTS.B,

13.36%,

3/24/25

....

14,700‌

14,681‌

1744371.PS.FTS.B,

13.6%,

3/24/25

.....

6,000‌

5,988‌

1734572.PS.FTS.B,

14.39%,

3/24/25

....

3,000‌

2,994‌

1741633.PS.FTS.B,

15%,

3/24/25

.......

8,000‌

7,984‌

1744692.PS.FTS.B,

15.29%,

3/24/25

....

25,000‌

24,949‌

1734461.PS.FTS.B,

15.4%,

3/24/25

.....

29,000‌

28,941‌

1734542.PS.FTS.B,

15.8%,

3/24/25

.....

8,000‌

7,984‌

1734809.PS.FTS.B,

16.8%,

3/24/25

.....

6,000‌

5,988‌

1741225.PS.FTS.B,

17.59%,

3/24/25

....

25,000‌

24,950‌

1741744.PS.FTS.B,

17.93%,

3/24/25

....

2,000‌

1,994‌

1734938.PS.FTS.B,

18.5%,

3/24/25

.....

5,000‌

4,986‌

1744779.PS.FTS.B,

18.9%,

3/24/25

.....

25,000‌

24,928‌

1744236.PS.FTS.B,

19.8%,

3/24/25

.....

6,500‌

6,481‌

1734458.PS.FTS.B,

21%,

3/24/25

.......

2,000‌

1,993‌

1744674.PS.FTS.B,

21.8%,

3/24/25

.....

6,000‌

5,983‌

1734929.PS.FTS.B,

22.6%,

3/24/25

.....

2,000‌

1,993‌

1734947.PS.FTS.B,

24.5%,

3/24/25

.....

15,000‌

14,948‌

1741252.PS.FTS.B,

24.95%,

3/24/25

....

10,000‌

9,966‌

1741777.PS.FTS.B,

25.3%,

3/24/25

.....

2,000‌

1,993‌

1735697.PS.FTS.B,

13.3%,

3/25/25

.....

2,500‌

2,496‌

1742152.PS.FTS.B,

13.77%,

3/25/25

....

6,000‌

5,990‌

1745604.PS.FTS.B,

14.09%,

3/25/25

....

9,500‌

9,484‌

1742521.PS.FTS.B,

14.39%,

3/25/25

....

3,000‌

2,995‌

1735790.PS.FTS.B,

14.6%,

3/25/25

.....

3,000‌

2,995‌

1742503.PS.FTS.B,

15.12%,

3/25/25

....

2,000‌

1,997‌

1735733.PS.FTS.B,

15.29%,

3/25/25

....

25,000‌

24,959‌

1735757.PS.FTS.B,

16%,

3/25/25

.......

30,000‌

29,951‌

1742158.PS.FTS.B,

16%,

3/25/25

.......

9,000‌

8,985‌

1742509.PS.FTS.B,

16%,

3/25/25

.......

25,000‌

24,959‌

1745583.PS.FTS.B,

17.8%,

3/25/25

.....

2,000‌

1,995‌

1735376.PS.FTS.B,

19.5%,

3/25/25

.....

15,000‌

14,965‌

1745067.PS.FTS.B,

19.58%,

3/25/25

....

3,500‌

3,492‌

1735778.PS.FTS.B,

21.8%,

3/25/25

.....

7,000‌

6,984‌

1735364.PS.FTS.B,

22.6%,

3/25/25

.....

2,000‌

1,994‌

1735829.PS.FTS.B,

22.6%,

3/25/25

.....

3,000‌

2,992‌

1742473.PS.FTS.B,

22.6%,

3/25/25

.....

4,000‌

3,989‌

1735736.PS.FTS.B,

24.99%,

3/25/25

....

2,000‌

1,994‌

1735709.PS.FTS.B,

25.4%,

3/25/25

.....

4,000‌

3,989‌

1742878.PS.FTS.B,

13.13%,

3/28/25

....

7,500‌

7,496‌

1743310.PS.FTS.B,

15.1%,

3/28/25

.....

15,000‌

14,992‌

1745937.PS.FTS.B,

15.4%,

3/28/25

.....

7,500‌

7,496‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

42

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Prosper

Funding

LLC

(continued)

1743370.PS.FTS.B,

17.2%,

3/28/25

.....

$

21,000‌

$

20,983‌

1745970.PS.FTS.B,

18.5%,

3/28/25

.....

8,000‌

7,996‌

1742851.PS.FTS.B,

19.5%,

3/28/25

.....

3,850‌

3,847‌

1743232.PS.FTS.B,

19.5%,

3/28/25

.....

10,000‌

9,992‌

1745931.PS.FTS.B,

25.99%,

3/28/25

....

6,000‌

5,995‌

1737404.PS.FTS.B,

11.5%,

3/29/25

.....

4,000‌

4,000‌

1744162.PS.FTS.B,

14.39%,

3/29/25

....

35,000‌

35,000‌

1737719.PS.FTS.B,

16.2%,

3/29/25

.....

2,000‌

2,000‌

1744195.PS.FTS.B,

16.9%,

3/29/25

.....

5,000‌

5,000‌

1743577.PS.FTS.B,

18.8%,

3/29/25

.....

8,000‌

8,000‌

1744693.PS.FTS.B,

19.91%,

3/29/25

....

10,900‌

10,900‌

1613030.PS.FTS.B,

24.6%,

7/31/25

.....

1,980‌

1,128‌

1605548.PS.FTS.B,

12.3%,

8/16/26

.....

11,857‌

11,517‌

1615743.PS.FTS.B,

12.3%,

8/16/26

.....

13,225‌

12,846‌

1615734.PS.FTS.B,

14.03%,

8/16/26

....

14,651‌

14,231‌

1615752.PS.FTS.B,

14.79%,

8/16/26

....

11,007‌

10,555‌

1609009.PS.FTS.B,

15.79%,

8/16/26

....

10,111‌

9,696‌

1605551.PS.FTS.B,

18.3%,

8/16/26

.....

11,827‌

11,252‌

1615977.PS.FTS.B,

12.7%,

8/17/26

.....

22,275‌

21,642‌

1606481.PS.FTS.B,

15%,

8/17/26

.......

10,094‌

9,684‌

1606805.PS.FTS.B,

15.5%,

8/17/26

.....

13,780‌

13,219‌

1605848.PS.FTS.B,

19.6%,

8/17/26

.....

11,003‌

10,474‌

1617531.PS.FTS.B,

13.24%,

8/18/26

....

8,226‌

7,994‌

1610149.PS.FTS.B,

14.2%,

8/18/26

.....

9,160‌

8,902‌

1607264.PS.FTS.B,

16.2%,

8/18/26

.....

13,800‌

13,243‌

1618068.PS.FTS.B,

17%,

8/19/26

.......

18,449‌

17,619‌

1611160.PS.FTS.B,

17.24%,

8/19/26

.....

18,396‌

17,659‌

1618251.PS.FTS.B,

20%,

8/19/26

.......

2,318‌

2,210‌

1608413.PS.FTS.B,

17.24%,

8/20/26

....

6,454‌

6,198‌

1618512.PS.FTS.B,

18.5%,

8/20/26

.....

8,320‌

7,989‌

1610342.PS.FTS.B,

24%,

8/24/26

.......

7,007‌

6,745‌

1619655.PS.FTS.B,

24.6%,

8/24/26

.....

4,677‌

4,501‌

1610408.PS.FTS.B,

14.29%,

8/25/26

....

32,067‌

31,213‌

1615561.PS.FTS.B,

15%,

8/27/26

.......

3,137‌

3,020‌

1615746.PS.FTS.B,

21.2%,

8/27/26

.....

10,293‌

9,897‌

1615740.PS.FTS.B,

16.63%,

9/09/26

....

14,032‌

13,543‌

1605545.PS.FTS.B,

16.8%,

9/15/26

.....

32,281‌

31,295‌

1626757.PS.FTS.B,

13.93%,

9/20/26

....

14,750‌

14,374‌

1633734.PS.FTS.B,

16.63%,

9/20/26

....

3,694‌

3,557‌

1623083.PS.FTS.B,

19.23%,

9/20/26

....

10,302‌

9,843‌

1623884.PS.FTS.B,

12.6%,

9/21/26

.....

9,253‌

9,019‌

1624235.PS.FTS.B,

12.7%,

9/21/26

.....

8,329‌

8,119‌

1627891.PS.FTS.B,

15.1%,

9/21/26

.....

13,843‌

13,336‌

1627885.PS.FTS.B,

15.29%,

9/21/26

....

17,671‌

17,023‌

1627345.PS.FTS.B,

18.78%,

9/21/26

....

9,358‌

8,947‌

1628383.PS.FTS.B,

12.87%,

9/22/26

....

8,291‌

8,084‌

1635105.PS.FTS.B,

14.53%,

9/22/26

....

8,670‌

8,462‌

1635534.PS.FTS.B,

16.5%,

9/23/26

.....

13,981‌

13,478‌

1629604.PS.FTS.B,

12.3%,

9/24/26

.....

8,323‌

8,118‌

1630147.PS.FTS.B,

14.38%,

9/24/26

....

23,221‌

22,649‌

1637625.PS.FTS.B,

11.6%,

9/28/26

.....

24,842‌

24,254‌

1644863.PS.FTS.B,

9.99%,

10/26/26

....

7,473‌

7,313‌

1655043.PS.FTS.B,

10.7%,

10/26/26

....

30,394‌

29,745‌

1648306.PS.FTS.B,

25.75%,

10/26/26

...

191‌

110‌

1648951.PS.FTS.B,

10.5%,

10/27/26

....

18,542‌

18,152‌

1655727.PS.FTS.B,

10.9%,

10/27/26

....

14,033‌

13,736‌

1655355.PS.FTS.B,

12%,

10/27/26

......

32,803‌

32,110‌

1648957.PS.FTS.B,

14.29%,

10/27/26

...

9,407‌

9,114‌

Description

Principal

Amount

Value

Prosper

Funding

LLC

(continued)

1648615.PS.FTS.B,

15%,

10/27/26

......

$

18,834‌

$

18,248‌

1645616.PS.FTS.B,

16.63%,

10/27/26

...

9,335‌

9,045‌

1645247.PS.FTS.B,

17.1%,

10/27/26

....

14,171‌

13,635‌

1655340.PS.FTS.B,

18.95%,

10/27/26

...

11,367‌

11,012‌

1655334.PS.FTS.B,

25.67%,

10/27/26

...

5,734‌

5,538‌

1656210.PS.FTS.B,

9.45%,

10/28/26

....

32,662‌

31,980‌

1646315.PS.FTS.B,

10.5%,

10/28/26

....

17,763‌

17,392‌

1656198.PS.FTS.B,

10.71%,

10/28/26

...

6,546‌

6,410‌

1649518.PS.FTS.B,

12.21%,

10/28/26

...

7,500‌

7,343‌

1646063.PS.FTS.B,

12.62%,

10/28/26

...

9,382‌

9,186‌

1649497.PS.FTS.B,

12.8%,

10/28/26

....

24,587‌

24,073‌

1656189.PS.FTS.B,

13.7%,

10/28/26

....

11,278‌

10,931‌

1646324.PS.FTS.B,

14%,

10/28/26

......

10,343‌

10,025‌

1656201.PS.FTS.B,

14.68%,

10/28/26

...

3,294‌

3,225‌

1646057.PS.FTS.B,

22.98%,

10/28/26

...

4,649‌

4,503‌

1657104.PS.FTS.B,

10.4%,

10/29/26

....

23,708‌

23,218‌

1656927.PS.FTS.B,

11.89%,

10/29/26

....

18,530‌

18,147‌

1647056.PS.FTS.B,

13.7%,

10/29/26

....

5,239‌

5,080‌

1647176.PS.FTS.B,

14.79%,

10/29/26

...

9,539‌

9,249‌

1647023.PS.FTS.B,

16.33%,

10/29/26

...

23,893‌

23,165‌

1657470.PS.FTS.B,

16.33%,

10/29/26

...

17,394‌

16,864‌

1647155.PS.FTS.B,

18.48%,

10/29/26

...

23,462‌

22,596‌

1657068.PS.FTS.B,

21.9%,

10/29/26

....

14,429‌

13,958‌

1646048.PS.FTS.B,

17.29%,

10/31/26

...

5,827‌

5,831‌

1647386.PS.FTS.B,

22.5%,

11/01/26

....

5,768‌

5,496‌

1658784.PS.FTS.B,

14.49%,

11/02/26

....

19,055‌

18,378‌

1650974.PS.FTS.B,

11.1%,

11/05/26

.....

14,230‌

13,904‌

1660968.PS.FTS.B,

11.89%,

11/05/26

....

10,446‌

10,206‌

1648693.PS.FTS.B,

12.7%,

11/05/26

....

15,736‌

15,513‌

1650971.PS.FTS.B,

12.87%,

11/05/26

....

24,246‌

23,689‌

1651400.PS.FTS.B,

13.13%,

11/05/26

....

15,218‌

14,694‌

1654297.PS.FTS.B,

13.3%,

11/05/26

....

14,270‌

13,942‌

1651412.PS.FTS.B,

13.6%,

11/05/26

....

23,792‌

22,973‌

1660965.PS.FTS.B,

14.29%,

11/05/26

....

17,145‌

16,554‌

1650992.PS.FTS.B,

14.53%,

11/05/26

....

2,858‌

2,793‌

1651397.PS.FTS.B,

18.33%,

11/05/26

....

23,926‌

22,854‌

1654303.PS.FTS.B,

21.18%,

11/05/26

....

9,600‌

9,168‌

1651085.PS.FTS.B,

25.6%,

11/05/26

....

4,339‌

4,144‌

1658128.PS.FTS.B,

10.7%,

11/08/26

....

14,222‌

13,906‌

1665390.PS.FTS.B,

10.7%,

11/08/26

....

23,704‌

23,177‌

1658293.PS.FTS.B,

11.1%,

11/08/26

.....

3,320‌

3,246‌

1651808.PS.FTS.B,

11.2%,

11/08/26

.....

4,744‌

4,638‌

1664808.PS.FTS.B,

11.6%,

11/08/26

.....

11,391‌

11,138‌

1658113.PS.FTS.B,

11.99%,

11/08/26

....

5,714‌

5,609‌

1665174.PS.FTS.B,

12.5%,

11/08/26

....

38,015‌

37,167‌

1658098.PS.FTS.B,

12.62%,

11/08/26

....

19,010‌

18,587‌

1658134.PS.FTS.B,

13.6%,

11/08/26

....

4,758‌

4,599‌

1658107.PS.FTS.B,

14.2%,

11/08/26

....

19,048‌

18,411‌

1651799.PS.FTS.B,

14.23%,

11/08/26

....

30,002‌

29,331‌

1664544.PS.FTS.B,

14.74%,

11/08/26

....

5,718‌

5,527‌

1651817.PS.FTS.B,

16%,

11/08/26

......

14,317‌

13,701‌

1651829.PS.FTS.B,

16.33%,

11/08/26

....

1,854‌

1,792‌

1658239.PS.FTS.B,

21.09%,

11/08/26

....

1,962‌

521‌

1664790.PS.FTS.B,

25.67%,

11/08/26

....

8,776‌

8,396‌

1652735.PS.FTS.B,

10.8%,

11/09/26

....

6,613‌

6,468‌

1653347.PS.FTS.B,

10.8%,

11/09/26

....

9,483‌

9,274‌

1666392.PS.FTS.B,

11.2%,

11/09/26

.....

5,693‌

5,567‌

1659700.PS.FTS.B,

13.2%,

11/09/26

....

3,805‌

3,679‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

43

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Prosper

Funding

LLC

(continued)

1653428.PS.FTS.B,

17.59%,

11/09/26

....

$

5,259‌

$

5,035‌

1653461.PS.FTS.B,

21%,

11/09/26

......

7,199‌

6,896‌

1654979.PS.FTS.B,

11.1%,

11/12/26

.....

6,539‌

6,401‌

1654997.PS.FTS.B,

16%,

11/12/26

......

9,355‌

8,969‌

1670892.PS.FTS.B,

11.55%,

11/17/26

....

2,848‌

2,790‌

1646567.PS.FTS.B,

13.08%,

11/22/26

....

9,598‌

9,465‌

1685217.PS.FTS.B,

10.5%,

12/14/26

....

24,027‌

23,613‌

1685232.PS.FTS.B,

11.07%,

12/14/26

....

24,041‌

23,626‌

1678351.PS.FTS.B,

11.34%,

12/14/26

....

33,666‌

33,085‌

1685184.PS.FTS.B,

12.4%,

12/14/26

....

14,443‌

14,194‌

1672268.PS.FTS.B,

18.78%,

12/14/26

...

9,684‌

9,350‌

1678714.PS.FTS.B,

25.2%,

12/14/26

....

14,599‌

14,091‌

1685577.PS.FTS.B,

28.23%,

12/14/26

...

14,629‌

14,117‌

1679173.PS.FTS.B,

10.5%,

12/15/26

....

18,261‌

17,950‌

1685967.PS.FTS.B,

11.5%,

12/15/26

....

13,469‌

13,239‌

1685976.PS.FTS.B,

11.89%,

12/15/26

....

7,699‌

7,568‌

1686336.PS.FTS.B,

13.1%,

12/15/26

....

8,190‌

8,050‌

1685937.PS.FTS.B,

15.5%,

12/15/26

....

2,897‌

2,822‌

1679512.PS.FTS.B,

15.7%,

12/15/26

....

19,317‌

18,816‌

1686372.PS.FTS.B,

16.7%,

12/15/26

....

9,667‌

9,416‌

1685808.PS.FTS.B,

18.33%,

12/15/26

...

24,201‌

23,380‌

1685961.PS.FTS.B,

18.48%,

12/15/26

...

14,522‌

14,029‌

1686345.PS.FTS.B,

23%,

12/15/26

......

9,717‌

9,386‌

1673321.PS.FTS.B,

24.03%,

12/15/26

...

8,266‌

7,984‌

1679056.PS.FTS.B,

26.13%,

12/15/26

...

4,873‌

4,707‌

1679959.PS.FTS.B,

12.32%,

12/16/26

...

5,295‌

5,206‌

1673948.PS.FTS.B,

17.54%,

12/16/26

...

19,348‌

18,702‌

1680109.PS.FTS.B,

18.25%,

12/16/26

...

9,680‌

9,356‌

1673528.PS.FTS.B,

19%,

12/16/26

......

24,215‌

23,404‌

1674779.PS.FTS.B,

10.4%,

12/17/26

....

12,973‌

12,758‌

1674203.PS.FTS.B,

10.8%,

12/17/26

....

14,421‌

14,182‌

1674698.PS.FTS.B,

11.89%,

12/17/26

....

4,812‌

4,732‌

1680745.PS.FTS.B,

13.3%,

12/17/26

....

11,463‌

11,175‌

1687770.PS.FTS.B,

14.29%,

12/17/26

...

14,469‌

14,104‌

1687689.PS.FTS.B,

16%,

12/17/26

......

15,457‌

14,950‌

1674248.PS.FTS.B,

16.5%,

12/17/26

....

19,330‌

18,842‌

1674359.PS.FTS.B,

22.2%,

12/17/26

....

3,399‌

3,288‌

1688382.PS.FTS.B,

10.29%,

12/20/26

...

14,413‌

14,184‌

1681009.PS.FTS.B,

13.5%,

12/20/26

....

7,229‌

7,055‌

1688022.PS.FTS.B,

13.6%,

12/20/26

....

12,532‌

12,229‌

1688361.PS.FTS.B,

16.93%,

12/20/26

...

24,172‌

23,586‌

1676078.PS.FTS.B,

10.7%,

12/21/26

....

10,574‌

10,408‌

1689060.PS.FTS.B,

21.9%,

12/21/26

....

3,883‌

3,766‌

1676924.PS.FTS.B,

18.9%,

12/22/26

....

4,843‌

4,695‌

1691244.PS.FTS.B,

14.7%,

12/24/26

....

12,544‌

12,258‌

1700619.PS.FTS.B,

10.53%,

1/12/27

....

24,222‌

23,895‌

1700889.PS.FTS.B,

11.6%,

1/12/27

.....

–‌

–‌

1693768.PS.FTS.B,

11.88%,

1/12/27

....

14,621‌

14,421‌

1687871.PS.FTS.B,

12.7%,

1/12/27

.....

26,331‌

25,971‌

1693777.PS.FTS.B,

13.41%,

1/12/27

....

3,903‌

3,821‌

1688213.PS.FTS.B,

15.03%,

1/12/27

....

7,812‌

7,649‌

1693816.PS.FTS.B,

15.7%,

1/12/27

.....

7,815‌

7,651‌

1688252.PS.FTS.B,

16.33%,

1/12/27

....

3,127‌

3,062‌

1693828.PS.FTS.B,

16.63%,

1/12/27

....

2,444‌

2,392‌

1701030.PS.FTS.B,

18.25%,

1/12/27

....

24,458‌

23,768‌

1700625.PS.FTS.B,

18.7%,

1/12/27

.....

14,678‌

14,264‌

1687862.PS.FTS.B,

21.09%,

1/12/27

....

6,858‌

6,657‌

1694182.PS.FTS.B,

21.18%,

1/12/27

....

3,429‌

3,332‌

Description

Principal

Amount

Value

Prosper

Funding

LLC

(continued)

1688234.PS.FTS.B,

25.6%,

1/12/27

.....

$

3,927‌

$

3,811‌

1688999.PS.FTS.B,

10.62%,

1/13/27

....

4,868‌

4,803‌

1701660.PS.FTS.B,

11.2%,

1/13/27

.....

9,743‌

9,612‌

1701831.PS.FTS.B,

12.3%,

1/13/27

.....

9,750‌

9,619‌

1701273.PS.FTS.B,

14.68%,

1/13/27

....

19,527‌

19,263‌

1688588.PS.FTS.B,

14.85%,

1/13/27

....

19,000‌

18,902‌

1701330.PS.FTS.B,

16.1%,

1/13/27

.....

9,772‌

9,502‌

1688576.PS.FTS.B,

18.48%,

1/13/27

....

10,763‌

10,465‌

1701837.PS.FTS.B,

18.48%,

1/13/27

....

9,784‌

9,513‌

1701795.PS.FTS.B,

18.78%,

1/13/27

....

14,679‌

14,272‌

1689002.PS.FTS.B,

19.23%,

1/13/27

....

5,873‌

5,710‌

1701810.PS.FTS.B,

21.18%,

1/13/27

....

10,778‌

10,477‌

1701450.PS.FTS.B,

23.13%,

1/13/27

....

10,000‌

2,709‌

1702464.PS.FTS.B,

9.81%,

1/14/27

.....

16,549‌

16,331‌

1689590.PS.FTS.B,

11.4%,

1/14/27

.....

5,847‌

5,769‌

1695235.PS.FTS.B,

12.24%,

1/14/27

....

11,699‌

11,463‌

1689731.PS.FTS.B,

14%,

1/14/27

.......

7,808‌

7,650‌

1702224.PS.FTS.B,

14.68%,

1/14/27

....

14,544‌

14,353‌

1702485.PS.FTS.B,

14.79%,

1/14/27

....

18,552‌

18,176‌

1689428.PS.FTS.B,

16.33%,

1/14/27

....

9,773‌

9,574‌

1695712.PS.FTS.B,

27.4%,

1/14/27

.....

2,456‌

2,386‌

1703238.PS.FTS.B,

22.9%,

1/18/27

.....

3,432‌

3,344‌

1698271.PS.FTS.B,

11.5%,

1/19/27

.....

11,694‌

11,553‌

1704942.PS.FTS.B,

11.6%,

1/19/27

.....

5,847‌

5,777‌

1698235.PS.FTS.B,

11.79%,

1/19/27

....

19,493‌

19,258‌

1692950.PS.FTS.B,

9.81%,

1/20/27

.....

16,549‌

16,353‌

1692617.PS.FTS.B,

12.2%,

1/20/27

.....

11,699‌

11,560‌

1705365.PS.FTS.B,

20.9%,

1/20/27

.....

11,756‌

11,471‌

1693283.PS.FTS.B,

15.39%,

1/21/27

....

14,664‌

14,562‌

1689014.PS.FTS.B,

24.03%,

1/26/27

....

14,874‌

14,761‌

1707623.PS.FTS.B,

12.9%,

2/14/27

.....

34,552‌

34,250‌

1714342.PS.FTS.B,

13.4%,

2/14/27

.....

5,924‌

5,872‌

1714327.PS.FTS.B,

17.37%,

2/14/27

....

24,124‌

23,682‌

1721061.PS.FTS.B,

10.5%,

2/15/27

.....

4,933‌

4,891‌

1707812.PS.FTS.B,

11.2%,

2/15/27

.....

4,440‌

4,403‌

1714540.PS.FTS.B,

11.2%,

2/15/27

.....

17,761‌

17,612‌

1707833.PS.FTS.B,

11.5%,

2/15/27

.....

9,868‌

9,785‌

1720842.PS.FTS.B,

11.6%,

2/15/27

.....

9,869‌

9,785‌

1707839.PS.FTS.B,

11.79%,

2/15/27

....

19,738‌

19,571‌

1708667.PS.FTS.B,

12.3%,

2/15/27

.....

34,546‌

34,253‌

1708634.PS.FTS.B,

15%,

2/15/27

.......

17,285‌

17,060‌

1708139.PS.FTS.B,

15.2%,

2/15/27

.....

24,594‌

24,275‌

1708757.PS.FTS.B,

15.29%,

2/15/27

....

26,670‌

26,323‌

1708643.PS.FTS.B,

16.5%,

2/15/27

.....

19,761‌

19,412‌

1709063.PS.FTS.B,

16.7%,

2/15/27

.....

11,166‌

11,020‌

1715119.PS.FTS.B,

18.25%,

2/15/27

....

24,712‌

24,272‌

1714801.PS.FTS.B,

18.78%,

2/15/27

....

11,863‌

11,651‌

1714507.PS.FTS.B,

18.9%,

2/15/27

.....

9,886‌

9,710‌

1714495.PS.FTS.B,

19%,

2/15/27

.......

24,716‌

24,275‌

1714531.PS.FTS.B,

20.16%,

2/15/27

....

9,889‌

9,712‌

1709051.PS.FTS.B,

26.5%,

2/15/27

.....

14,851‌

14,562‌

1720848.PS.FTS.B,

28.23%,

2/15/27

....

9,904‌

9,709‌

1709645.PS.FTS.B,

9.27%,

2/16/27

.....

34,518‌

34,238‌

1716184.PS.FTS.B,

12.7%,

2/16/27

.....

11,846‌

11,748‌

1710641.PS.FTS.B,

13.2%,

2/18/27

.....

20,042‌

19,804‌

1714510.PS.FTS.B,

11.7%,

2/24/27

.....

14,803‌

14,678‌

1722529.PS.FTS.B,

19%,

2/28/27

.......

24,716‌

24,439‌

1733474.PS.FTS.B,

9.62%,

3/22/27

.....

20,000‌

19,968‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

44

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Prosper

Funding

LLC

(continued)

1739674.PS.FTS.B,

10.08%,

3/22/27

....

$

15,000‌

$

14,976‌

1733471.PS.FTS.B,

10.44%,

3/22/27

....

22,100‌

22,064‌

1733348.PS.FTS.B,

10.5%,

3/22/27

.....

2,000‌

1,997‌

1733468.PS.FTS.B,

10.5%,

3/22/27

.....

23,800‌

23,762‌

1732976.PS.FTS.B,

10.53%,

3/22/27

....

15,000‌

14,976‌

1740175.PS.FTS.B,

10.7%,

3/22/27

.....

6,000‌

5,990‌

1732952.PS.FTS.B,

11.2%,

3/22/27

.....

12,000‌

11,981‌

1742652.PS.FTS.B,

11.2%,

3/22/27

.....

7,000‌

6,989‌

1743180.PS.FTS.B,

11.2%,

3/22/27

.....

15,000‌

14,976‌

1732943.PS.FTS.B,

11.5%,

3/22/27

.....

7,000‌

6,989‌

1733504.PS.FTS.B,

11.6%,

3/22/27

.....

13,000‌

12,979‌

1739656.PS.FTS.B,

11.6%,

3/22/27

.....

7,000‌

6,989‌

1740124.PS.FTS.B,

11.61%,

3/22/27

....

18,000‌

17,971‌

1733513.PS.FTS.B,

11.7%,

3/22/27

.....

12,000‌

11,981‌

1739671.PS.FTS.B,

11.7%,

3/22/27

.....

17,000‌

16,973‌

1732970.PS.FTS.B,

11.79%,

3/22/27

....

10,000‌

9,984‌

1733498.PS.FTS.B,

11.79%,

3/22/27

....

15,000‌

14,976‌

1732922.PS.FTS.B,

12.9%,

3/22/27

.....

33,000‌

32,948‌

1742676.PS.FTS.B,

13.4%,

3/22/27

.....

5,000‌

4,992‌

1733459.PS.FTS.B,

13.7%,

3/22/27

.....

25,000‌

24,937‌

1742640.PS.FTS.B,

14.39%,

3/22/27

....

21,000‌

20,947‌

1740145.PS.FTS.B,

14.56%,

3/22/27

....

15,000‌

14,962‌

1739641.PS.FTS.B,

14.7%,

3/22/27

.....

15,000‌

14,962‌

1740187.PS.FTS.B,

15.1%,

3/22/27

.....

5,000‌

4,987‌

1742679.PS.FTS.B,

15.2%,

3/22/27

.....

5,000‌

4,987‌

1732916.PS.FTS.B,

16.18%,

3/22/27

....

30,000‌

29,925‌

1742682.PS.FTS.B,

16.33%,

3/22/27

....

12,500‌

12,469‌

1742649.PS.FTS.B,

16.8%,

3/22/27

.....

20,000‌

19,950‌

1743234.PS.FTS.B,

17.23%,

3/22/27

....

7,500‌

7,481‌

1739635.PS.FTS.B,

17.29%,

3/22/27

....

20,000‌

19,924‌

1740181.PS.FTS.B,

17.5%,

3/22/27

.....

5,234‌

5,214‌

1743225.PS.FTS.B,

17.8%,

3/22/27

.....

9,500‌

9,464‌

1743177.PS.FTS.B,

17.96%,

3/22/27

....

17,500‌

17,457‌

1733450.PS.FTS.B,

18.13%,

3/22/27

....

25,000‌

24,938‌

1740148.PS.FTS.B,

18.33%,

3/22/27

....

15,000‌

14,943‌

1739653.PS.FTS.B,

18.48%,

3/22/27

....

20,000‌

19,924‌

1739917.PS.FTS.B,

18.6%,

3/22/27

.....

7,000‌

6,973‌

1742664.PS.FTS.B,

18.7%,

3/22/27

.....

16,000‌

15,939‌

1732940.PS.FTS.B,

18.78%,

3/22/27

....

2,500‌

2,491‌

1740103.PS.FTS.B,

19%,

3/22/27

.......

25,000‌

24,905‌

1733495.PS.FTS.B,

21.69%,

3/22/27

....

15,000‌

14,931‌

1739848.PS.FTS.B,

21.9%,

3/22/27

.....

7,000‌

6,968‌

1733477.PS.FTS.B,

23.9%,

3/22/27

.....

15,000‌

14,931‌

1733480.PS.FTS.B,

24.03%,

3/22/27

....

15,000‌

14,931‌

1739650.PS.FTS.B,

26.43%,

3/22/27

....

9,000‌

8,959‌

1734128.PS.FTS.B,

10.08%,

3/23/27

....

10,000‌

9,986‌

1741003.PS.FTS.B,

10.08%,

3/23/27

....

8,000‌

7,989‌

1743894.PS.FTS.B,

10.29%,

3/23/27

....

40,000‌

39,944‌

1733822.PS.FTS.B,

10.5%,

3/23/27

.....

18,000‌

17,975‌

1740904.PS.FTS.B,

10.5%,

3/23/27

.....

7,000‌

6,990‌

1743546.PS.FTS.B,

10.5%,

3/23/27

.....

15,000‌

14,979‌

1744077.PS.FTS.B,

10.8%,

3/23/27

.....

10,000‌

9,986‌

1744092.PS.FTS.B,

10.8%,

3/23/27

.....

8,500‌

8,488‌

1740970.PS.FTS.B,

11.2%,

3/23/27

.....

10,000‌

9,986‌

1734281.PS.FTS.B,

11.4%,

3/23/27

.....

10,500‌

10,486‌

1740994.PS.FTS.B,

11.4%,

3/23/27

.....

20,000‌

19,973‌

1741024.PS.FTS.B,

11.5%,

3/23/27

.....

4,000‌

3,995‌

1740508.PS.FTS.B,

11.6%,

3/23/27

.....

8,000‌

7,989‌

Description

Principal

Amount

Value

Prosper

Funding

LLC

(continued)

1740943.PS.FTS.B,

11.6%,

3/23/27

.....

$

15,000‌

$

14,979‌

1743579.PS.FTS.B,

11.7%,

3/23/27

.....

10,500‌

10,486‌

1740955.PS.FTS.B,

11.79%,

3/23/27

....

25,000‌

24,966‌

1733702.PS.FTS.B,

11.89%,

3/23/27

....

5,000‌

4,993‌

1733807.PS.FTS.B,

12.32%,

3/23/27

....

12,000‌

11,984‌

1740499.PS.FTS.B,

12.32%,

3/23/27

....

35,000‌

34,952‌

1743942.PS.FTS.B,

12.7%,

3/23/27

.....

10,000‌

9,986‌

1734272.PS.FTS.B,

13.08%,

3/23/27

....

17,000‌

16,977‌

1733756.PS.FTS.B,

13.3%,

3/23/27

.....

10,000‌

9,987‌

1733873.PS.FTS.B,

13.3%,

3/23/27

.....

3,100‌

3,093‌

1741030.PS.FTS.B,

13.32%,

3/23/27

....

3,000‌

2,993‌

1743558.PS.FTS.B,

13.32%,

3/23/27

....

12,000‌

11,974‌

1743567.PS.FTS.B,

13.32%,

3/23/27

....

10,000‌

9,978‌

1743561.PS.FTS.B,

13.4%,

3/23/27

.....

20,000‌

19,973‌

1740946.PS.FTS.B,

13.48%,

3/23/27

....

10,000‌

9,987‌

1740880.PS.FTS.B,

13.5%,

3/23/27

.....

11,000‌

10,976‌

1743552.PS.FTS.B,

13.5%,

3/23/27

.....

13,000‌

12,971‌

1740517.PS.FTS.B,

13.7%,

3/23/27

.....

25,000‌

24,945‌

1733840.PS.FTS.B,

13.77%,

3/23/27

....

10,500‌

10,477‌

1740514.PS.FTS.B,

13.8%,

3/23/27

.....

15,000‌

14,967‌

1734077.PS.FTS.B,

14%,

3/23/27

.......

7,800‌

7,783‌

1740496.PS.FTS.B,

14.19%,

3/23/27

....

10,000‌

10,164‌

1733816.PS.FTS.B,

15.1%,

3/23/27

.....

20,000‌

19,957‌

1744062.PS.FTS.B,

15.18%,

3/23/27

....

13,800‌

13,782‌

1734278.PS.FTS.B,

15.2%,

3/23/27

.....

10,000‌

9,978‌

1740958.PS.FTS.B,

15.8%,

3/23/27

.....

25,000‌

24,946‌

1744227.PS.FTS.B,

16%,

3/23/27

.......

18,000‌

17,940‌

1734263.PS.FTS.B,

16.33%,

3/23/27

....

20,000‌

19,957‌

1740505.PS.FTS.B,

16.33%,

3/23/27

....

12,000‌

11,974‌

1744071.PS.FTS.B,

16.33%,

3/23/27

....

13,900‌

13,870‌

1743348.PS.FTS.B,

16.43%,

3/23/27

....

22,800‌

22,725‌

1743600.PS.FTS.B,

16.61%,

3/23/27

....

4,000‌

3,991‌

1740997.PS.FTS.B,

16.8%,

3/23/27

.....

20,000‌

19,957‌

1744065.PS.FTS.B,

16.8%,

3/23/27

.....

20,000‌

19,957‌

1734284.PS.FTS.B,

16.9%,

3/23/27

.....

2,000‌

1,993‌

1733993.PS.FTS.B,

17.2%,

3/23/27

.....

12,000‌

11,960‌

1743540.PS.FTS.B,

17.29%,

3/23/27

....

17,000‌

16,944‌

1733831.PS.FTS.B,

18.59%,

3/23/27

....

15,000‌

14,951‌

1733813.PS.FTS.B,

18.6%,

3/23/27

.....

25,000‌

24,918‌

1743573.PS.FTS.B,

18.78%,

3/23/27

....

9,500‌

9,469‌

1744056.PS.FTS.B,

18.78%,

3/23/27

....

6,000‌

5,980‌

1741168.PS.FTS.B,

18.93%,

3/23/27

....

20,000‌

19,934‌

1741006.PS.FTS.B,

19%,

3/23/27

.......

7,000‌

6,977‌

1733834.PS.FTS.B,

19.23%,

3/23/27

....

11,000‌

10,964‌

1744050.PS.FTS.B,

19.23%,

3/23/27

....

10,000‌

9,967‌

1744083.PS.FTS.B,

21%,

3/23/27

.......

4,500‌

4,482‌

1740988.PS.FTS.B,

21.18%,

3/23/27

....

25,000‌

24,919‌

1744068.PS.FTS.B,

22.5%,

3/23/27

.....

5,000‌

4,980‌

1741000.PS.FTS.B,

25.67%,

3/23/27

....

15,000‌

14,941‌

1741012.PS.FTS.B,

25.9%,

3/23/27

.....

7,000‌

6,972‌

1740316.PS.FTS.B,

28.23%,

3/23/27

....

10,000‌

9,961‌

1734857.PS.FTS.B,

10.5%,

3/24/27

.....

3,000‌

2,997‌

1741357.PS.FTS.B,

10.5%,

3/24/27

.....

7,000‌

6,992‌

1744725.PS.FTS.B,

10.5%,

3/24/27

.....

2,000‌

1,998‌

1734563.PS.FTS.B,

11.2%,

3/24/27

.....

15,500‌

15,482‌

1744293.PS.FTS.B,

12%,

3/24/27

.......

25,000‌

24,953‌

1734827.PS.FTS.B,

13.23%,

3/24/27

....

15,000‌

14,972‌

1734560.PS.FTS.B,

13.5%,

3/24/27

.....

25,000‌

24,954‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

45

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Prosper

Funding

LLC

(continued)

1744296.PS.FTS.B,

13.5%,

3/24/27

.....

$

25,000‌

$

24,954‌

1745025.PS.FTS.B,

13.8%,

3/24/27

.....

9,500‌

9,482‌

1744257.PS.FTS.B,

14%,

3/24/27

.......

4,500‌

4,492‌

1744611.PS.FTS.B,

14.38%,

3/24/27

....

25,000‌

24,972‌

1744596.PS.FTS.B,

14.49%,

3/24/27

....

11,000‌

11,183‌

1744812.PS.FTS.B,

14.7%,

3/24/27

.....

20,000‌

19,963‌

1744299.PS.FTS.B,

15%,

3/24/27

.......

9,000‌

8,984‌

1744656.PS.FTS.B,

15%,

3/24/27

.......

12,500‌

12,477‌

1745031.PS.FTS.B,

18.78%,

3/24/27

....

5,000‌

4,986‌

1741657.PS.FTS.B,

21%,

3/24/27

.......

11,000‌

10,963‌

1741336.PS.FTS.B,

25.9%,

3/24/27

.....

7,000‌

6,977‌

1741624.PS.FTS.B,

27.4%,

3/24/27

.....

14,000‌

13,954‌

1742146.PS.FTS.B,

10.7%,

3/25/27

.....

9,000‌

8,992‌

1745565.PS.FTS.B,

12.42%,

3/25/27

....

15,000‌

14,977‌

1735826.PS.FTS.B,

13.19%,

3/25/27

....

24,000‌

23,978‌

1735664.PS.FTS.B,

14%,

3/25/27

.......

25,000‌

24,963‌

1735235.PS.FTS.B,

17.1%,

3/25/27

.....

4,000‌

3,991‌

1735847.PS.FTS.B,

21.18%,

3/25/27

....

10,000‌

9,978‌

1742143.PS.FTS.B,

22.9%,

3/25/27

.....

12,000‌

11,967‌

1745982.PS.FTS.B,

12.6%,

3/28/27

.....

2,000‌

1,999‌

1743544.PS.FTS.B,

16.4%,

3/28/27

.....

35,000‌

34,985‌

1747212.PS.FTS.B,

13.48%,

3/29/27

....

25,000‌

25,000‌

1744585.PS.FTS.B,

17.29%,

3/29/27

....

6,500‌

6,500‌

1737947.PS.FTS.B,

18%,

3/29/27

.......

21,000‌

21,000‌

1736876.PS.FTS.B,

19.3%,

3/29/27

.....

10,000‌

10,000‌

1737779.PS.FTS.B,

21%,

3/29/27

.......

9,000‌

9,000‌

1747200.PS.FTS.B,

27.4%,

3/29/27

.....

12,000‌

12,000‌

7,843,731‌

UGCard

991874632.UG.FTS.B,

29.49%,

2/22/24

..

53‌

53‌

991911959.UG.FTS.B,

29.49%,

2/22/24

..

1‌

1‌

992100883.UG.FTS.B,

19.3%,

2/24/24

...

14‌

15‌

991855788.UG.FTS.B,

19.96%,

2/24/24

..

630‌

652‌

991858026.UG.FTS.B,

19.96%,

2/24/24

..

529‌

545‌

991895428.UG.FTS.B,

19.96%,

2/24/24

..

2,300‌

2,369‌

992097515.UG.FTS.B,

19.96%,

2/24/24

..

393‌

405‌

992103401.UG.FTS.B,

19.96%,

2/24/24

..

2,403‌

2,476‌

991855928.UG.FTS.B,

19.99%,

2/24/24

..

135‌

139‌

991888257.UG.FTS.B,

21.47%,

2/24/24

..

786‌

809‌

991851043.UG.FTS.B,

21.48%,

2/24/24

..

102‌

104‌

991852151.UG.FTS.B,

22.47%,

2/24/24

..

155‌

159‌

991881843.UG.FTS.B,

22.47%,

2/24/24

..

274‌

283‌

992101522.UG.FTS.B,

22.47%,

2/24/24

..

3,272‌

3,358‌

991927647.UG.FTS.B,

23.45%,

2/24/24

..

406‌

420‌

992000073.UG.FTS.B,

25.45%,

2/24/24

..

1,009‌

1,043‌

992021510.UG.FTS.B,

26.44%,

2/24/24

..

577‌

593‌

991845811.UG.FTS.B,

28.48%,

2/24/24

..

90‌

93‌

991866170.UG.FTS.B,

28.48%,

2/24/24

..

633‌

654‌

991905619.UG.FTS.B,

28.48%,

2/24/24

..

13‌

13‌

992006841.UG.FTS.B,

28.48%,

2/24/24

..

215‌

221‌

992101724.UG.FTS.B,

28.48%,

2/24/24

..

962‌

987‌

992102544.UG.FTS.B,

28.48%,

2/24/24

..

192‌

197‌

991850730.UG.FTS.B,

29.48%,

2/24/24

..

201‌

208‌

991956731.UG.FTS.B,

29.48%,

2/24/24

..

938‌

962‌

991968766.UG.FTS.B,

29.48%,

2/24/24

..

162‌

167‌

992004901.UG.FTS.B,

29.48%,

2/24/24

..

131‌

134‌

992055265.UG.FTS.B,

29.48%,

2/24/24

..

23‌

24‌

Description

Principal

Amount

Value

UGCard

(continued)

991848028.UG.FTS.B,

29.49%,

2/24/24

..

$

210‌

$

217‌

991848137.UG.FTS.B,

29.49%,

2/24/24

..

111‌

116‌

991851729.UG.FTS.B,

29.49%,

2/24/24

..

138‌

141‌

991851803.UG.FTS.B,

29.49%,

2/24/24

..

454‌

460‌

991857105.UG.FTS.B,

29.49%,

2/24/24

..

84‌

87‌

991857155.UG.FTS.B,

29.49%,

2/24/24

..

883‌

897‌

991857923.UG.FTS.B,

29.49%,

2/24/24

..

277‌

289‌

991858994.UG.FTS.B,

29.49%,

2/24/24

..

1,056‌

1,082‌

991868110.UG.FTS.B,

29.49%,

2/24/24

..

69‌

70‌

991869014.UG.FTS.B,

29.49%,

2/24/24

..

57‌

59‌

991873844.UG.FTS.B,

29.49%,

2/24/24

..

143‌

147‌

991884307.UG.FTS.B,

29.49%,

2/24/24

..

87‌

90‌

991886867.UG.FTS.B,

29.49%,

2/24/24

..

490‌

506‌

991906157.UG.FTS.B,

29.49%,

2/24/24

..

33‌

34‌

991916239.UG.FTS.B,

29.49%,

2/24/24

..

722‌

744‌

991933021.UG.FTS.B,

29.49%,

2/24/24

..

403‌

417‌

991943876.UG.FTS.B,

29.49%,

2/24/24

..

268‌

274‌

991950424.UG.FTS.B,

29.49%,

2/24/24

..

86‌

88‌

991958221.UG.FTS.B,

29.49%,

2/24/24

..

212‌

218‌

991959581.UG.FTS.B,

29.49%,

2/24/24

..

1,095‌

1,122‌

991974529.UG.FTS.B,

29.49%,

2/24/24

..

86‌

88‌

991976510.UG.FTS.B,

29.49%,

2/24/24

..

122‌

126‌

992012178.UG.FTS.B,

29.49%,

2/24/24

..

903‌

926‌

992015494.UG.FTS.B,

29.49%,

2/24/24

..

329‌

335‌

992020055.UG.FTS.B,

29.49%,

2/24/24

..

155‌

158‌

992050711.UG.FTS.B,

29.49%,

2/24/24

..

398‌

403‌

992062486.UG.FTS.B,

29.49%,

2/24/24

..

69‌

71‌

992076168.UG.FTS.B,

29.49%,

2/24/24

..

48‌

50‌

992077737.UG.FTS.B,

29.49%,

2/24/24

..

55‌

57‌

992077761.UG.FTS.B,

29.49%,

2/24/24

..

110‌

112‌

992078704.UG.FTS.B,

29.49%,

2/24/24

..

99‌

100‌

992085028.UG.FTS.B,

29.49%,

2/24/24

..

175‌

179‌

992096714.UG.FTS.B,

29.49%,

2/24/24

..

60‌

62‌

992098866.UG.FTS.B,

29.49%,

2/24/24

..

12‌

12‌

992099068.UG.FTS.B,

29.49%,

2/24/24

..

58‌

60‌

992099592.UG.FTS.B,

29.49%,

2/24/24

..

114‌

117‌

992100893.UG.FTS.B,

29.49%,

2/24/24

..

117‌

119‌

992101420.UG.FTS.B,

29.49%,

2/24/24

..

111‌

113‌

992102354.UG.FTS.B,

29.49%,

2/24/24

..

97‌

99‌

991860446.UG.FTS.B,

18.47%,

2/25/24

..

575‌

599‌

991866886.UG.FTS.B,

18.47%,

2/25/24

..

928‌

961‌

991999276.UG.FTS.B,

18.71%,

2/25/24

..

183‌

189‌

991893728.UG.FTS.B,

20.96%,

2/25/24

..

334‌

346‌

991988226.UG.FTS.B,

20.96%,

2/25/24

..

50‌

51‌

992031845.UG.FTS.B,

21.48%,

2/25/24

..

737‌

759‌

992094445.UG.FTS.B,

21.48%,

2/25/24

..

20‌

21‌

992094017.UG.FTS.B,

22.47%,

2/25/24

..

199‌

205‌

991866922.UG.FTS.B,

23.45%,

2/25/24

..

175‌

181‌

992102579.UG.FTS.B,

26.49%,

2/25/24

..

140‌

143‌

992098501.UG.FTS.B,

27.99%,

2/25/24

..

37‌

38‌

991874962.UG.FTS.B,

28.48%,

2/25/24

..

47‌

48‌

992012988.UG.FTS.B,

28.48%,

2/25/24

..

33‌

33‌

992033409.UG.FTS.B,

28.48%,

2/25/24

..

124‌

126‌

992073765.UG.FTS.B,

28.48%,

2/25/24

..

72‌

75‌

992077629.UG.FTS.B,

28.48%,

2/25/24

..

49‌

51‌

992084429.UG.FTS.B,

28.48%,

2/25/24

..

0‌

0‌

991857609.UG.FTS.B,

29.48%,

2/25/24

..

80‌

82‌

991875696.UG.FTS.B,

29.48%,

2/25/24

..

147‌

153‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

46

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

UGCard

(continued)

991879269.UG.FTS.B,

29.48%,

2/25/24

..

$

37‌

$

39‌

991982663.UG.FTS.B,

29.48%,

2/25/24

..

69‌

10‌

992004274.UG.FTS.B,

29.48%,

2/25/24

..

1,100‌

1,110‌

991858887.UG.FTS.B,

29.49%,

2/25/24

..

342‌

346‌

991860004.UG.FTS.B,

29.49%,

2/25/24

..

240‌

244‌

991867519.UG.FTS.B,

29.49%,

2/25/24

..

155‌

160‌

991878283.UG.FTS.B,

29.49%,

2/25/24

..

41‌

42‌

991878422.UG.FTS.B,

29.49%,

2/25/24

..

21‌

22‌

991878918.UG.FTS.B,

29.49%,

2/25/24

..

193‌

200‌

991888975.UG.FTS.B,

29.49%,

2/25/24

..

169‌

172‌

991893580.UG.FTS.B,

29.49%,

2/25/24

..

915‌

945‌

991905614.UG.FTS.B,

29.49%,

2/25/24

..

108‌

112‌

991915526.UG.FTS.B,

29.49%,

2/25/24

..

61‌

63‌

991930962.UG.FTS.B,

29.49%,

2/25/24

..

490‌

505‌

991933882.UG.FTS.B,

29.49%,

2/25/24

..

90‌

92‌

991946777.UG.FTS.B,

29.49%,

2/25/24

..

40‌

41‌

991954495.UG.FTS.B,

29.49%,

2/25/24

..

635‌

656‌

991959713.UG.FTS.B,

29.49%,

2/25/24

..

624‌

637‌

991973675.UG.FTS.B,

29.49%,

2/25/24

..

56‌

58‌

991981134.UG.FTS.B,

29.49%,

2/25/24

..

159‌

166‌

992005122.UG.FTS.B,

29.49%,

2/25/24

..

88‌

90‌

992008186.UG.FTS.B,

29.49%,

2/25/24

..

51‌

53‌

992017871.UG.FTS.B,

29.49%,

2/25/24

..

247‌

253‌

992033544.UG.FTS.B,

29.49%,

2/25/24

..

132‌

135‌

992059426.UG.FTS.B,

29.49%,

2/25/24

..

65‌

67‌

992075988.UG.FTS.B,

29.49%,

2/25/24

..

233‌

238‌

992087124.UG.FTS.B,

29.49%,

2/25/24

..

28‌

29‌

992088071.UG.FTS.B,

29.49%,

2/25/24

..

61‌

64‌

992093852.UG.FTS.B,

29.49%,

2/25/24

..

78‌

80‌

992095920.UG.FTS.B,

29.49%,

2/25/24

..

161‌

164‌

992097893.UG.FTS.B,

29.49%,

2/25/24

..

13‌

13‌

992099739.UG.FTS.B,

29.49%,

2/25/24

..

9‌

10‌

992101150.UG.FTS.B,

29.49%,

2/25/24

..

9‌

10‌

992101293.UG.FTS.B,

29.49%,

2/25/24

..

0‌

0‌

992101510.UG.FTS.B,

29.49%,

2/25/24

..

169‌

173‌

992102898.UG.FTS.B,

29.49%,

2/25/24

..

76‌

79‌

991882960.UG.FTS.B,

18.47%,

2/26/24

..

134‌

138‌

991898242.UG.FTS.B,

18.47%,

2/26/24

..

862‌

892‌

991925590.UG.FTS.B,

19.99%,

2/26/24

..

201‌

205‌

992015394.UG.FTS.B,

19.99%,

2/26/24

..

179‌

184‌

991876803.UG.FTS.B,

22.47%,

2/26/24

..

140‌

145‌

992054045.UG.FTS.B,

22.47%,

2/26/24

..

536‌

552‌

991875647.UG.FTS.B,

28.48%,

2/26/24

..

207‌

215‌

991905180.UG.FTS.B,

28.48%,

2/26/24

..

1,263‌

1,305‌

991866416.UG.FTS.B,

29.49%,

2/26/24

..

1,556‌

1,608‌

991881126.UG.FTS.B,

29.49%,

2/26/24

..

160‌

165‌

991889815.UG.FTS.B,

29.49%,

2/26/24

..

341‌

349‌

991894169.UG.FTS.B,

29.49%,

2/26/24

..

85‌

87‌

991895548.UG.FTS.B,

29.49%,

2/26/24

..

105‌

108‌

991913945.UG.FTS.B,

29.49%,

2/26/24

..

83‌

86‌

991922885.UG.FTS.B,

29.49%,

2/26/24

..

99‌

102‌

991925929.UG.FTS.B,

29.49%,

2/26/24

..

22‌

23‌

991926271.UG.FTS.B,

29.49%,

2/26/24

..

124‌

128‌

991942370.UG.FTS.B,

29.49%,

2/26/24

..

394‌

407‌

991945566.UG.FTS.B,

29.49%,

2/26/24

..

444‌

459‌

991957183.UG.FTS.B,

29.49%,

2/26/24

..

55‌

56‌

991989990.UG.FTS.B,

29.49%,

2/26/24

..

46‌

48‌

992007636.UG.FTS.B,

29.49%,

2/26/24

..

39‌

40‌

Description

Principal

Amount

Value

UGCard

(continued)

992061396.UG.FTS.B,

29.49%,

2/26/24

..

$

51‌

$

53‌

992086752.UG.FTS.B,

29.49%,

2/26/24

..

52‌

54‌

992095385.UG.FTS.B,

29.49%,

2/26/24

..

84‌

85‌

992096298.UG.FTS.B,

29.49%,

2/26/24

..

18‌

18‌

992096777.UG.FTS.B,

29.49%,

2/26/24

..

62‌

63‌

992097645.UG.FTS.B,

29.49%,

2/26/24

..

18‌

18‌

992098526.UG.FTS.B,

29.49%,

2/26/24

..

9‌

9‌

992099968.UG.FTS.B,

29.49%,

2/26/24

..

120‌

122‌

992102186.UG.FTS.B,

29.49%,

2/26/24

..

11‌

12‌

992103144.UG.FTS.B,

29.49%,

2/26/24

..

289‌

296‌

991884866.UG.FTS.B,

28.48%,

2/28/24

..

623‌

643‌

992081402.UG.FTS.B,

15.47%,

3/03/24

..

20‌

21‌

991929191.UG.FTS.B,

16.49%,

3/03/24

..

128‌

133‌

991974320.UG.FTS.B,

15.47%,

3/04/24

..

130‌

134‌

992090093.UG.FTS.B,

16.49%,

3/04/24

..

400‌

413‌

992120686.UG.FTS.B,

17.47%,

3/04/24

..

200‌

205‌

992143275.UG.FTS.B,

17.49%,

3/04/24

..

211‌

217‌

991935398.UG.FTS.B,

15.47%,

3/05/24

..

562‌

576‌

992024946.UG.FTS.B,

28.48%,

3/06/24

..

0‌

0‌

991980485.UG.FTS.B,

15.47%,

3/07/24

..

186‌

192‌

992202710.UG.FTS.B,

16.49%,

3/07/24

..

30‌

31‌

992024343.UG.FTS.B,

15.47%,

3/08/24

..

14‌

15‌

992108231.UG.FTS.B,

15.47%,

3/08/24

..

2,082‌

2,154‌

991939352.UG.FTS.B,

17.49%,

3/08/24

..

449‌

459‌

992130218.UG.FTS.B,

14%,

3/09/24

.....

148‌

153‌

991985141.UG.FTS.B,

15.47%,

3/09/24

..

402‌

416‌

992005925.UG.FTS.B,

15.49%,

3/09/24

..

161‌

165‌

991958571.UG.FTS.B,

16.49%,

3/09/24

..

273‌

282‌

991959643.UG.FTS.B,

17.47%,

3/09/24

..

177‌

183‌

991972268.UG.FTS.B,

17.49%,

3/09/24

..

299‌

309‌

991974781.UG.FTS.B,

17.49%,

3/09/24

..

248‌

257‌

991988243.UG.FTS.B,

19.99%,

3/09/24

..

75‌

78‌

992222150.UG.FTS.B,

19.99%,

3/09/24

..

25‌

26‌

992015582.UG.FTS.B,

25.45%,

3/09/24

..

115‌

119‌

991946573.UG.FTS.B,

28.48%,

3/09/24

..

40‌

41‌

991947784.UG.FTS.B,

28.48%,

3/09/24

..

319‌

330‌

991971995.UG.FTS.B,

28.48%,

3/09/24

..

133‌

136‌

991972065.UG.FTS.B,

28.48%,

3/09/24

..

106‌

108‌

992025146.UG.FTS.B,

28.48%,

3/09/24

..

261‌

266‌

992058189.UG.FTS.B,

28.48%,

3/09/24

..

302‌

309‌

992095679.UG.FTS.B,

28.48%,

3/09/24

..

14‌

14‌

992192911.UG.FTS.B,

29.47%,

3/09/24

..

3‌

3‌

991953422.UG.FTS.B,

29.48%,

3/09/24

..

220‌

227‌

991958748.UG.FTS.B,

29.48%,

3/09/24

..

187‌

192‌

991981257.UG.FTS.B,

29.48%,

3/09/24

..

582‌

595‌

992023316.UG.FTS.B,

29.48%,

3/09/24

..

803‌

829‌

992083320.UG.FTS.B,

29.48%,

3/09/24

..

238‌

243‌

991947664.UG.FTS.B,

29.49%,

3/09/24

..

60‌

62‌

991947688.UG.FTS.B,

29.49%,

3/09/24

..

263‌

272‌

991948104.UG.FTS.B,

29.49%,

3/09/24

..

165‌

170‌

991949509.UG.FTS.B,

29.49%,

3/09/24

..

414‌

428‌

991949781.UG.FTS.B,

29.49%,

3/09/24

..

948‌

976‌

991951372.UG.FTS.B,

29.49%,

3/09/24

..

435‌

448‌

991952909.UG.FTS.B,

29.49%,

3/09/24

..

205‌

210‌

991953930.UG.FTS.B,

29.49%,

3/09/24

..

108‌

111‌

991954992.UG.FTS.B,

29.49%,

3/09/24

..

1,912‌

1,936‌

991956849.UG.FTS.B,

29.49%,

3/09/24

..

1,295‌

1,296‌

991957564.UG.FTS.B,

29.49%,

3/09/24

..

62‌

64‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

47

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

UGCard

(continued)

991959995.UG.FTS.B,

29.49%,

3/09/24

..

$

538‌

$

555‌

991970332.UG.FTS.B,

29.49%,

3/09/24

..

86‌

88‌

991972036.UG.FTS.B,

29.49%,

3/09/24

..

14‌

14‌

991981108.UG.FTS.B,

29.49%,

3/09/24

..

111‌

115‌

991981726.UG.FTS.B,

29.49%,

3/09/24

..

411‌

418‌

991987950.UG.FTS.B,

29.49%,

3/09/24

..

67‌

69‌

991992833.UG.FTS.B,

29.49%,

3/09/24

..

173‌

175‌

992001036.UG.FTS.B,

29.49%,

3/09/24

..

298‌

307‌

992001643.UG.FTS.B,

29.49%,

3/09/24

..

202‌

205‌

992050277.UG.FTS.B,

29.49%,

3/09/24

..

130‌

132‌

992117049.UG.FTS.B,

29.49%,

3/09/24

..

130‌

131‌

992162012.UG.FTS.B,

29.49%,

3/09/24

..

119‌

121‌

992174253.UG.FTS.B,

29.49%,

3/09/24

..

123‌

123‌

992174960.UG.FTS.B,

29.49%,

3/09/24

..

29‌

30‌

992197311.UG.FTS.B,

29.49%,

3/09/24

..

85‌

88‌

992201836.UG.FTS.B,

29.49%,

3/09/24

..

215‌

219‌

992215166.UG.FTS.B,

29.49%,

3/09/24

..

77‌

80‌

992220983.UG.FTS.B,

29.49%,

3/09/24

..

32‌

33‌

992221524.UG.FTS.B,

29.49%,

3/09/24

..

32‌

33‌

992222373.UG.FTS.B,

29.49%,

3/09/24

..

20‌

21‌

992223265.UG.FTS.B,

29.49%,

3/09/24

..

61‌

63‌

992223785.UG.FTS.B,

29.49%,

3/09/24

..

5‌

5‌

992227421.UG.FTS.B,

29.49%,

3/09/24

..

1,250‌

1,287‌

992227559.UG.FTS.B,

29.49%,

3/09/24

..

550‌

559‌

992054339.UG.FTS.B,

15.47%,

3/10/24

..

315‌

327‌

992133732.UG.FTS.B,

16.49%,

3/10/24

..

223‌

231‌

991983333.UG.FTS.B,

17.49%,

3/10/24

..

56‌

58‌

992054320.UG.FTS.B,

17.49%,

3/10/24

..

454‌

470‌

991959592.UG.FTS.B,

19.99%,

3/10/24

..

690‌

705‌

991981913.UG.FTS.B,

28.48%,

3/10/24

..

1,365‌

1,410‌

991997335.UG.FTS.B,

28.48%,

3/10/24

..

199‌

203‌

992126369.UG.FTS.B,

28.48%,

3/10/24

..

703‌

718‌

992212961.UG.FTS.B,

28.48%,

3/10/24

..

281‌

287‌

992220904.UG.FTS.B,

28.48%,

3/10/24

..

60‌

62‌

992227005.UG.FTS.B,

28.48%,

3/10/24

..

122‌

125‌

991971742.UG.FTS.B,

29.48%,

3/10/24

..

171‌

176‌

991973313.UG.FTS.B,

29.48%,

3/10/24

..

604‌

616‌

991979174.UG.FTS.B,

29.48%,

3/10/24

..

1,145‌

1,183‌

991989160.UG.FTS.B,

29.48%,

3/10/24

..

242‌

250‌

991992482.UG.FTS.B,

29.48%,

3/10/24

..

343‌

354‌

992107287.UG.FTS.B,

29.48%,

3/10/24

..

83‌

85‌

992152006.UG.FTS.B,

29.48%,

3/10/24

..

36‌

37‌

992223848.UG.FTS.B,

29.48%,

3/10/24

..

230‌

235‌

992231738.UG.FTS.B,

29.48%,

3/10/24

..

7‌

7‌

991954648.UG.FTS.B,

29.49%,

3/10/24

..

194‌

200‌

991957369.UG.FTS.B,

29.49%,

3/10/24

..

212‌

218‌

991963350.UG.FTS.B,

29.49%,

3/10/24

..

825‌

852‌

991967577.UG.FTS.B,

29.49%,

3/10/24

..

61‌

63‌

991971404.UG.FTS.B,

29.49%,

3/10/24

..

145‌

148‌

991972731.UG.FTS.B,

29.49%,

3/10/24

..

299‌

309‌

991977667.UG.FTS.B,

29.49%,

3/10/24

..

239‌

246‌

991992135.UG.FTS.B,

29.49%,

3/10/24

..

272‌

278‌

991998219.UG.FTS.B,

29.49%,

3/10/24

..

486‌

495‌

991999194.UG.FTS.B,

29.49%,

3/10/24

..

26‌

26‌

992006842.UG.FTS.B,

29.49%,

3/10/24

..

57‌

57‌

992009702.UG.FTS.B,

29.49%,

3/10/24

..

78‌

81‌

992028625.UG.FTS.B,

29.49%,

3/10/24

..

387‌

392‌

992050795.UG.FTS.B,

29.49%,

3/10/24

..

64‌

66‌

Description

Principal

Amount

Value

UGCard

(continued)

992065171.UG.FTS.B,

29.49%,

3/10/24

..

$

456‌

$

462‌

992082006.UG.FTS.B,

29.49%,

3/10/24

..

118‌

120‌

992122760.UG.FTS.B,

29.49%,

3/10/24

..

840‌

863‌

992161920.UG.FTS.B,

29.49%,

3/10/24

..

188‌

192‌

992197950.UG.FTS.B,

29.49%,

3/10/24

..

172‌

175‌

992210467.UG.FTS.B,

29.49%,

3/10/24

..

241‌

244‌

992221255.UG.FTS.B,

29.49%,

3/10/24

..

50‌

52‌

992221871.UG.FTS.B,

29.49%,

3/10/24

..

85‌

88‌

992222057.UG.FTS.B,

29.49%,

3/10/24

..

134‌

136‌

992222804.UG.FTS.B,

29.49%,

3/10/24

..

32‌

33‌

992224276.UG.FTS.B,

29.49%,

3/10/24

..

113‌

115‌

992224418.UG.FTS.B,

29.49%,

3/10/24

..

169‌

171‌

992227205.UG.FTS.B,

29.49%,

3/10/24

..

114‌

114‌

992227731.UG.FTS.B,

29.49%,

3/10/24

..

707‌

721‌

992229605.UG.FTS.B,

29.49%,

3/10/24

..

110‌

112‌

992231825.UG.FTS.B,

29.49%,

3/10/24

..

97‌

99‌

992232310.UG.FTS.B,

29.49%,

3/10/24

..

139‌

141‌

992236188.UG.FTS.B,

29.49%,

3/10/24

..

41‌

42‌

991977980.UG.FTS.B,

19.99%,

3/11/24

..

82‌

84‌

992031484.UG.FTS.B,

19.99%,

3/11/24

..

34‌

35‌

992076578.UG.FTS.B,

19.99%,

3/11/24

..

80‌

82‌

992119104.UG.FTS.B,

19.99%,

3/11/24

..

481‌

498‌

992122000.UG.FTS.B,

19.99%,

3/11/24

..

144‌

148‌

992147396.UG.FTS.B,

19.99%,

3/11/24

..

22‌

23‌

992160225.UG.FTS.B,

19.99%,

3/11/24

..

1,138‌

1,176‌

992186911.UG.FTS.B,

19.99%,

3/11/24

..

900‌

919‌

992208649.UG.FTS.B,

19.99%,

3/11/24

..

481‌

495‌

992244926.UG.FTS.B,

19.99%,

3/11/24

..

13‌

14‌

992247145.UG.FTS.B,

21.48%,

3/11/24

..

300‌

307‌

991978279.UG.FTS.B,

25.44%,

3/11/24

..

448‌

462‌

992009073.UG.FTS.B,

25.44%,

3/11/24

..

128‌

132‌

992009208.UG.FTS.B,

25.44%,

3/11/24

..

2,125‌

2,197‌

992027372.UG.FTS.B,

25.44%,

3/11/24

..

71‌

73‌

991978859.UG.FTS.B,

25.45%,

3/11/24

..

10‌

11‌

991990614.UG.FTS.B,

25.45%,

3/11/24

..

71‌

18‌

992091791.UG.FTS.B,

25.45%,

3/11/24

..

600‌

621‌

992198907.UG.FTS.B,

25.45%,

3/11/24

..

66‌

68‌

991980660.UG.FTS.B,

26.44%,

3/11/24

..

244‌

252‌

991992817.UG.FTS.B,

26.44%,

3/11/24

..

65‌

67‌

991995915.UG.FTS.B,

26.44%,

3/11/24

..

230‌

238‌

992086038.UG.FTS.B,

26.44%,

3/11/24

..

18‌

19‌

992113363.UG.FTS.B,

27.95%,

3/11/24

..

34‌

36‌

992219283.UG.FTS.B,

27.95%,

3/11/24

..

500‌

510‌

992227499.UG.FTS.B,

27.95%,

3/11/24

..

45‌

46‌

991969535.UG.FTS.B,

27.99%,

3/11/24

..

777‌

803‌

991972106.UG.FTS.B,

28.48%,

3/11/24

..

36‌

37‌

991980673.UG.FTS.B,

28.48%,

3/11/24

..

294‌

301‌

991991246.UG.FTS.B,

28.48%,

3/11/24

..

68‌

69‌

991995931.UG.FTS.B,

28.48%,

3/11/24

..

44‌

45‌

991998635.UG.FTS.B,

28.48%,

3/11/24

..

26‌

27‌

991999733.UG.FTS.B,

28.48%,

3/11/24

..

233‌

241‌

992003524.UG.FTS.B,

28.48%,

3/11/24

..

600‌

620‌

992004683.UG.FTS.B,

28.48%,

3/11/24

..

183‌

190‌

992007967.UG.FTS.B,

28.48%,

3/11/24

..

44‌

45‌

992010237.UG.FTS.B,

28.48%,

3/11/24

..

112‌

115‌

992015983.UG.FTS.B,

28.48%,

3/11/24

..

61‌

17‌

992025302.UG.FTS.B,

28.48%,

3/11/24

..

295‌

305‌

992046363.UG.FTS.B,

28.48%,

3/11/24

..

651‌

672‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

48

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

UGCard

(continued)

992046813.UG.FTS.B,

28.48%,

3/11/24

..

$

817‌

$

844‌

992057368.UG.FTS.B,

28.48%,

3/11/24

..

2,000‌

2,046‌

992069996.UG.FTS.B,

28.48%,

3/11/24

..

48‌

50‌

992074328.UG.FTS.B,

28.48%,

3/11/24

..

650‌

665‌

992078937.UG.FTS.B,

28.48%,

3/11/24

..

150‌

35‌

992081909.UG.FTS.B,

28.48%,

3/11/24

..

80‌

83‌

992092446.UG.FTS.B,

28.48%,

3/11/24

..

78‌

81‌

992094602.UG.FTS.B,

28.48%,

3/11/24

..

88‌

21‌

992108714.UG.FTS.B,

28.48%,

3/11/24

..

80‌

83‌

992118963.UG.FTS.B,

28.48%,

3/11/24

..

32‌

33‌

992122493.UG.FTS.B,

28.48%,

3/11/24

..

450‌

461‌

992146186.UG.FTS.B,

28.48%,

3/11/24

..

150‌

155‌

992156171.UG.FTS.B,

28.48%,

3/11/24

..

100‌

103‌

992159674.UG.FTS.B,

28.48%,

3/11/24

..

86‌

88‌

992176013.UG.FTS.B,

28.48%,

3/11/24

..

160‌

165‌

992182219.UG.FTS.B,

28.48%,

3/11/24

..

1,900‌

1,939‌

992184956.UG.FTS.B,

28.48%,

3/11/24

..

3,000‌

3,029‌

992198861.UG.FTS.B,

28.48%,

3/11/24

..

20‌

20‌

992201771.UG.FTS.B,

28.48%,

3/11/24

..

227‌

229‌

992222674.UG.FTS.B,

28.48%,

3/11/24

..

68‌

70‌

992222974.UG.FTS.B,

28.48%,

3/11/24

..

41‌

42‌

992225742.UG.FTS.B,

28.48%,

3/11/24

..

29‌

30‌

992240990.UG.FTS.B,

28.48%,

3/11/24

..

6‌

6‌

991962422.UG.FTS.B,

29.45%,

3/11/24

..

60‌

62‌

991980282.UG.FTS.B,

29.45%,

3/11/24

..

30‌

30‌

992001356.UG.FTS.B,

29.45%,

3/11/24

..

727‌

751‌

992020175.UG.FTS.B,

29.45%,

3/11/24

..

70‌

72‌

992124536.UG.FTS.B,

29.45%,

3/11/24

..

40‌

42‌

991963803.UG.FTS.B,

29.46%,

3/11/24

..

80‌

83‌

992009326.UG.FTS.B,

29.46%,

3/11/24

..

480‌

496‌

992024303.UG.FTS.B,

29.46%,

3/11/24

..

50‌

52‌

992091528.UG.FTS.B,

29.46%,

3/11/24

..

90‌

93‌

991967970.UG.FTS.B,

29.47%,

3/11/24

..

192‌

197‌

991976338.UG.FTS.B,

29.47%,

3/11/24

..

904‌

934‌

992012412.UG.FTS.B,

29.47%,

3/11/24

..

206‌

213‌

992012694.UG.FTS.B,

29.47%,

3/11/24

..

50‌

52‌

992026600.UG.FTS.B,

29.47%,

3/11/24

..

31‌

31‌

992042505.UG.FTS.B,

29.47%,

3/11/24

..

43‌

44‌

992056001.UG.FTS.B,

29.47%,

3/11/24

..

44‌

45‌

992062874.UG.FTS.B,

29.47%,

3/11/24

..

5‌

5‌

992065461.UG.FTS.B,

29.47%,

3/11/24

..

20‌

21‌

992092631.UG.FTS.B,

29.47%,

3/11/24

..

500‌

516‌

992096451.UG.FTS.B,

29.47%,

3/11/24

..

16‌

17‌

992096495.UG.FTS.B,

29.47%,

3/11/24

..

35‌

36‌

992100276.UG.FTS.B,

29.47%,

3/11/24

..

30‌

31‌

991964858.UG.FTS.B,

29.48%,

3/11/24

..

90‌

93‌

991973637.UG.FTS.B,

29.48%,

3/11/24

..

108‌

111‌

991977266.UG.FTS.B,

29.48%,

3/11/24

..

293‌

303‌

991989904.UG.FTS.B,

29.48%,

3/11/24

..

676‌

698‌

991996534.UG.FTS.B,

29.48%,

3/11/24

..

98‌

99‌

991998539.UG.FTS.B,

29.48%,

3/11/24

..

316‌

74‌

992000949.UG.FTS.B,

29.48%,

3/11/24

..

68‌

71‌

992003825.UG.FTS.B,

29.48%,

3/11/24

..

200‌

206‌

992004232.UG.FTS.B,

29.48%,

3/11/24

..

239‌

246‌

992011088.UG.FTS.B,

29.48%,

3/11/24

..

146‌

151‌

992012066.UG.FTS.B,

29.48%,

3/11/24

..

57‌

59‌

992044505.UG.FTS.B,

29.48%,

3/11/24

..

78‌

81‌

992045825.UG.FTS.B,

29.48%,

3/11/24

..

8‌

8‌

Description

Principal

Amount

Value

UGCard

(continued)

992062783.UG.FTS.B,

29.48%,

3/11/24

..

$

108‌

$

112‌

992064547.UG.FTS.B,

29.48%,

3/11/24

..

150‌

154‌

992068921.UG.FTS.B,

29.48%,

3/11/24

..

212‌

219‌

992075618.UG.FTS.B,

29.48%,

3/11/24

..

295‌

303‌

992078333.UG.FTS.B,

29.48%,

3/11/24

..

145‌

150‌

992081960.UG.FTS.B,

29.48%,

3/11/24

..

213‌

220‌

992085180.UG.FTS.B,

29.48%,

3/11/24

..

142‌

146‌

992090036.UG.FTS.B,

29.48%,

3/11/24

..

125‌

129‌

992110796.UG.FTS.B,

29.48%,

3/11/24

..

60‌

62‌

992126882.UG.FTS.B,

29.48%,

3/11/24

..

201‌

208‌

992144821.UG.FTS.B,

29.48%,

3/11/24

..

16‌

16‌

992170007.UG.FTS.B,

29.48%,

3/11/24

..

60‌

62‌

992190424.UG.FTS.B,

29.48%,

3/11/24

..

165‌

166‌

992205927.UG.FTS.B,

29.48%,

3/11/24

..

136‌

139‌

992211041.UG.FTS.B,

29.48%,

3/11/24

..

95‌

97‌

992211077.UG.FTS.B,

29.48%,

3/11/24

..

112‌

115‌

992219279.UG.FTS.B,

29.48%,

3/11/24

..

302‌

305‌

992219602.UG.FTS.B,

29.48%,

3/11/24

..

300‌

306‌

992229844.UG.FTS.B,

29.48%,

3/11/24

..

98‌

100‌

991963105.UG.FTS.B,

29.49%,

3/11/24

..

1,462‌

1,510‌

991964225.UG.FTS.B,

29.49%,

3/11/24

..

1,200‌

1,239‌

991964603.UG.FTS.B,

29.49%,

3/11/24

..

186‌

192‌

991964859.UG.FTS.B,

29.49%,

3/11/24

..

300‌

309‌

991966512.UG.FTS.B,

29.49%,

3/11/24

..

300‌

310‌

991966824.UG.FTS.B,

29.49%,

3/11/24

..

15‌

15‌

991967449.UG.FTS.B,

29.49%,

3/11/24

..

86‌

87‌

991967468.UG.FTS.B,

29.49%,

3/11/24

..

295‌

304‌

991967902.UG.FTS.B,

29.49%,

3/11/24

..

50‌

51‌

991967978.UG.FTS.B,

29.49%,

3/11/24

..

379‌

391‌

991968169.UG.FTS.B,

29.49%,

3/11/24

..

73‌

76‌

991968274.UG.FTS.B,

29.49%,

3/11/24

..

20‌

21‌

991969299.UG.FTS.B,

29.49%,

3/11/24

..

113‌

116‌

991969632.UG.FTS.B,

29.49%,

3/11/24

..

28‌

29‌

991969680.UG.FTS.B,

29.49%,

3/11/24

..

90‌

93‌

991970269.UG.FTS.B,

29.49%,

3/11/24

..

51‌

52‌

991970801.UG.FTS.B,

29.49%,

3/11/24

..

589‌

608‌

991970831.UG.FTS.B,

29.49%,

3/11/24

..

140‌

145‌

991970872.UG.FTS.B,

29.49%,

3/11/24

..

23‌

9‌

991971719.UG.FTS.B,

29.49%,

3/11/24

..

122‌

124‌

991971759.UG.FTS.B,

29.49%,

3/11/24

..

170‌

176‌

991972297.UG.FTS.B,

29.49%,

3/11/24

..

108‌

112‌

991972580.UG.FTS.B,

29.49%,

3/11/24

..

308‌

318‌

991973120.UG.FTS.B,

29.49%,

3/11/24

..

249‌

257‌

991973597.UG.FTS.B,

29.49%,

3/11/24

..

256‌

265‌

991973615.UG.FTS.B,

29.49%,

3/11/24

..

40‌

41‌

991974108.UG.FTS.B,

29.49%,

3/11/24

..

21‌

21‌

991974206.UG.FTS.B,

29.49%,

3/11/24

..

30‌

31‌

991974368.UG.FTS.B,

29.49%,

3/11/24

..

97‌

99‌

991974386.UG.FTS.B,

29.49%,

3/11/24

..

95‌

98‌

991975594.UG.FTS.B,

29.49%,

3/11/24

..

75‌

77‌

991975944.UG.FTS.B,

29.49%,

3/11/24

..

244‌

252‌

991977148.UG.FTS.B,

29.49%,

3/11/24

..

53‌

55‌

991977272.UG.FTS.B,

29.49%,

3/11/24

..

24‌

24‌

991977340.UG.FTS.B,

29.49%,

3/11/24

..

61‌

62‌

991977900.UG.FTS.B,

29.49%,

3/11/24

..

54‌

56‌

991978167.UG.FTS.B,

29.49%,

3/11/24

..

69‌

69‌

991978192.UG.FTS.B,

29.49%,

3/11/24

..

57‌

59‌

991978339.UG.FTS.B,

29.49%,

3/11/24

..

90‌

93‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

49

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

UGCard

(continued)

991978925.UG.FTS.B,

29.49%,

3/11/24

..

$

19‌

$

20‌

991979139.UG.FTS.B,

29.49%,

3/11/24

..

34‌

35‌

991980423.UG.FTS.B,

29.49%,

3/11/24

..

27‌

28‌

991980546.UG.FTS.B,

29.49%,

3/11/24

..

33‌

34‌

991980561.UG.FTS.B,

29.49%,

3/11/24

..

342‌

352‌

991980760.UG.FTS.B,

29.49%,

3/11/24

..

82‌

85‌

991980784.UG.FTS.B,

29.49%,

3/11/24

..

384‌

397‌

991981240.UG.FTS.B,

29.49%,

3/11/24

..

43‌

44‌

991981361.UG.FTS.B,

29.49%,

3/11/24

..

200‌

205‌

991981798.UG.FTS.B,

29.49%,

3/11/24

..

484‌

499‌

991981843.UG.FTS.B,

29.49%,

3/11/24

..

237‌

245‌

991981980.UG.FTS.B,

29.49%,

3/11/24

..

235‌

238‌

991982777.UG.FTS.B,

29.49%,

3/11/24

..

1,556‌

1,606‌

991982907.UG.FTS.B,

29.49%,

3/11/24

..

432‌

439‌

991984128.UG.FTS.B,

29.49%,

3/11/24

..

406‌

419‌

991986133.UG.FTS.B,

29.49%,

3/11/24

..

2,500‌

2,578‌

991988264.UG.FTS.B,

29.49%,

3/11/24

..

319‌

328‌

991988472.UG.FTS.B,

29.49%,

3/11/24

..

150‌

154‌

991988946.UG.FTS.B,

29.49%,

3/11/24

..

9‌

9‌

991989435.UG.FTS.B,

29.49%,

3/11/24

..

42‌

43‌

991991486.UG.FTS.B,

29.49%,

3/11/24

..

52‌

53‌

991991666.UG.FTS.B,

29.49%,

3/11/24

..

1,491‌

1,538‌

991991892.UG.FTS.B,

29.49%,

3/11/24

..

73‌

75‌

991991939.UG.FTS.B,

29.49%,

3/11/24

..

2‌

2‌

991992026.UG.FTS.B,

29.49%,

3/11/24

..

521‌

538‌

991992155.UG.FTS.B,

29.49%,

3/11/24

..

22‌

23‌

991993337.UG.FTS.B,

29.49%,

3/11/24

..

31‌

32‌

991995076.UG.FTS.B,

29.49%,

3/11/24

..

42‌

44‌

991995418.UG.FTS.B,

29.49%,

3/11/24

..

49‌

51‌

991995732.UG.FTS.B,

29.49%,

3/11/24

..

134‌

138‌

991995806.UG.FTS.B,

29.49%,

3/11/24

..

10‌

11‌

991995935.UG.FTS.B,

29.49%,

3/11/24

..

160‌

165‌

991996240.UG.FTS.B,

29.49%,

3/11/24

..

28‌

29‌

991996472.UG.FTS.B,

29.49%,

3/11/24

..

30‌

30‌

991996702.UG.FTS.B,

29.49%,

3/11/24

..

83‌

86‌

991997571.UG.FTS.B,

29.49%,

3/11/24

..

434‌

448‌

991997903.UG.FTS.B,

29.49%,

3/11/24

..

62‌

64‌

991997921.UG.FTS.B,

29.49%,

3/11/24

..

8‌

8‌

991998856.UG.FTS.B,

29.49%,

3/11/24

..

62‌

64‌

992000404.UG.FTS.B,

29.49%,

3/11/24

..

113‌

117‌

992001112.UG.FTS.B,

29.49%,

3/11/24

...

255‌

263‌

992001404.UG.FTS.B,

29.49%,

3/11/24

..

72‌

75‌

992001545.UG.FTS.B,

29.49%,

3/11/24

..

184‌

189‌

992003469.UG.FTS.B,

29.49%,

3/11/24

..

45‌

15‌

992004426.UG.FTS.B,

29.49%,

3/11/24

..

130‌

134‌

992004460.UG.FTS.B,

29.49%,

3/11/24

..

100‌

103‌

992004888.UG.FTS.B,

29.49%,

3/11/24

..

200‌

207‌

992006161.UG.FTS.B,

29.49%,

3/11/24

..

172‌

178‌

992006199.UG.FTS.B,

29.49%,

3/11/24

..

41‌

42‌

992006952.UG.FTS.B,

29.49%,

3/11/24

..

50‌

51‌

992007872.UG.FTS.B,

29.49%,

3/11/24

..

37‌

38‌

992008307.UG.FTS.B,

29.49%,

3/11/24

..

50‌

51‌

992008327.UG.FTS.B,

29.49%,

3/11/24

..

132‌

134‌

992009466.UG.FTS.B,

29.49%,

3/11/24

..

164‌

169‌

992010608.UG.FTS.B,

29.49%,

3/11/24

..

63‌

65‌

992010865.UG.FTS.B,

29.49%,

3/11/24

..

288‌

297‌

992012044.UG.FTS.B,

29.49%,

3/11/24

..

220‌

227‌

992013145.UG.FTS.B,

29.49%,

3/11/24

..

621‌

641‌

Description

Principal

Amount

Value

UGCard

(continued)

992013783.UG.FTS.B,

29.49%,

3/11/24

..

$

487‌

$

501‌

992016212.UG.FTS.B,

29.49%,

3/11/24

..

69‌

71‌

992016275.UG.FTS.B,

29.49%,

3/11/24

..

30‌

31‌

992017380.UG.FTS.B,

29.49%,

3/11/24

..

43‌

45‌

992017553.UG.FTS.B,

29.49%,

3/11/24

..

390‌

396‌

992017646.UG.FTS.B,

29.49%,

3/11/24

..

146‌

150‌

992017937.UG.FTS.B,

29.49%,

3/11/24

..

77‌

79‌

992019470.UG.FTS.B,

29.49%,

3/11/24

..

192‌

198‌

992020526.UG.FTS.B,

29.49%,

3/11/24

..

60‌

62‌

992021215.UG.FTS.B,

29.49%,

3/11/24

..

147‌

151‌

992021735.UG.FTS.B,

29.49%,

3/11/24

..

6‌

6‌

992022443.UG.FTS.B,

29.49%,

3/11/24

..

26‌

26‌

992023083.UG.FTS.B,

29.49%,

3/11/24

..

6‌

6‌

992023585.UG.FTS.B,

29.49%,

3/11/24

..

478‌

493‌

992023624.UG.FTS.B,

29.49%,

3/11/24

..

275‌

279‌

992024142.UG.FTS.B,

29.49%,

3/11/24

..

275‌

284‌

992024260.UG.FTS.B,

29.49%,

3/11/24

..

390‌

403‌

992024434.UG.FTS.B,

29.49%,

3/11/24

..

129‌

131‌

992024696.UG.FTS.B,

29.49%,

3/11/24

..

64‌

65‌

992026353.UG.FTS.B,

29.49%,

3/11/24

..

209‌

216‌

992027759.UG.FTS.B,

29.49%,

3/11/24

..

66‌

67‌

992028242.UG.FTS.B,

29.49%,

3/11/24

..

65‌

67‌

992028268.UG.FTS.B,

29.49%,

3/11/24

..

23‌

24‌

992028484.UG.FTS.B,

29.49%,

3/11/24

..

40‌

41‌

992028954.UG.FTS.B,

29.49%,

3/11/24

..

65‌

66‌

992029501.UG.FTS.B,

29.49%,

3/11/24

..

92‌

95‌

992030279.UG.FTS.B,

29.49%,

3/11/24

..

84‌

87‌

992031818.UG.FTS.B,

29.49%,

3/11/24

..

40‌

42‌

992032044.UG.FTS.B,

29.49%,

3/11/24

..

112‌

116‌

992032073.UG.FTS.B,

29.49%,

3/11/24

..

137‌

141‌

992033526.UG.FTS.B,

29.49%,

3/11/24

..

110‌

113‌

992036879.UG.FTS.B,

29.49%,

3/11/24

..

95‌

98‌

992037439.UG.FTS.B,

29.49%,

3/11/24

..

348‌

353‌

992038432.UG.FTS.B,

29.49%,

3/11/24

..

291‌

300‌

992038753.UG.FTS.B,

29.49%,

3/11/24

..

368‌

376‌

992040681.UG.FTS.B,

29.49%,

3/11/24

..

165‌

170‌

992041084.UG.FTS.B,

29.49%,

3/11/24

..

76‌

78‌

992041487.UG.FTS.B,

29.49%,

3/11/24

..

28‌

29‌

992041709.UG.FTS.B,

29.49%,

3/11/24

..

59‌

61‌

992042589.UG.FTS.B,

29.49%,

3/11/24

..

50‌

52‌

992043326.UG.FTS.B,

29.49%,

3/11/24

..

227‌

234‌

992044025.UG.FTS.B,

29.49%,

3/11/24

..

42‌

43‌

992046080.UG.FTS.B,

29.49%,

3/11/24

..

110‌

114‌

992046775.UG.FTS.B,

29.49%,

3/11/24

..

435‌

448‌

992048481.UG.FTS.B,

29.49%,

3/11/24

..

118‌

122‌

992048623.UG.FTS.B,

29.49%,

3/11/24

..

200‌

206‌

992050423.UG.FTS.B,

29.49%,

3/11/24

..

26‌

26‌

992052684.UG.FTS.B,

29.49%,

3/11/24

..

261‌

269‌

992056538.UG.FTS.B,

29.49%,

3/11/24

..

87‌

89‌

992058939.UG.FTS.B,

29.49%,

3/11/24

..

191‌

197‌

992061984.UG.FTS.B,

29.49%,

3/11/24

..

88‌

91‌

992062881.UG.FTS.B,

29.49%,

3/11/24

..

593‌

612‌

992063046.UG.FTS.B,

29.49%,

3/11/24

..

575‌

594‌

992064060.UG.FTS.B,

29.49%,

3/11/24

..

10‌

10‌

992064330.UG.FTS.B,

29.49%,

3/11/24

..

74‌

76‌

992064505.UG.FTS.B,

29.49%,

3/11/24

..

252‌

260‌

992065376.UG.FTS.B,

29.49%,

3/11/24

..

85‌

86‌

992065487.UG.FTS.B,

29.49%,

3/11/24

..

137‌

141‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

50

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

UGCard

(continued)

992065723.UG.FTS.B,

29.49%,

3/11/24

..

$

17‌

$

18‌

992068411.UG.FTS.B,

29.49%,

3/11/24

..

61‌

63‌

992069413.UG.FTS.B,

29.49%,

3/11/24

..

621‌

641‌

992070602.UG.FTS.B,

29.49%,

3/11/24

..

68‌

71‌

992071220.UG.FTS.B,

29.49%,

3/11/24

..

36‌

37‌

992072610.UG.FTS.B,

29.49%,

3/11/24

..

114‌

118‌

992073541.UG.FTS.B,

29.49%,

3/11/24

..

232‌

236‌

992075019.UG.FTS.B,

29.49%,

3/11/24

..

52‌

54‌

992075123.UG.FTS.B,

29.49%,

3/11/24

..

521‌

538‌

992075979.UG.FTS.B,

29.49%,

3/11/24

..

20‌

21‌

992077683.UG.FTS.B,

29.49%,

3/11/24

..

18‌

18‌

992078657.UG.FTS.B,

29.49%,

3/11/24

..

5‌

5‌

992079817.UG.FTS.B,

29.49%,

3/11/24

..

241‌

248‌

992080367.UG.FTS.B,

29.49%,

3/11/24

..

115‌

119‌

992082784.UG.FTS.B,

29.49%,

3/11/24

..

192‌

198‌

992082907.UG.FTS.B,

29.49%,

3/11/24

..

141‌

146‌

992084199.UG.FTS.B,

29.49%,

3/11/24

..

328‌

336‌

992085348.UG.FTS.B,

29.49%,

3/11/24

..

282‌

291‌

992086933.UG.FTS.B,

29.49%,

3/11/24

..

248‌

250‌

992088550.UG.FTS.B,

29.49%,

3/11/24

..

50‌

50‌

992088919.UG.FTS.B,

29.49%,

3/11/24

..

100‌

103‌

992091878.UG.FTS.B,

29.49%,

3/11/24

..

1,000‌

1,031‌

992091949.UG.FTS.B,

29.49%,

3/11/24

..

1,289‌

1,326‌

992095090.UG.FTS.B,

29.49%,

3/11/24

..

64‌

66‌

992095656.UG.FTS.B,

29.49%,

3/11/24

..

53‌

54‌

992096631.UG.FTS.B,

29.49%,

3/11/24

..

44‌

46‌

992097447.UG.FTS.B,

29.49%,

3/11/24

..

9‌

9‌

992098093.UG.FTS.B,

29.49%,

3/11/24

..

78‌

79‌

992100022.UG.FTS.B,

29.49%,

3/11/24

..

79‌

81‌

992101184.UG.FTS.B,

29.49%,

3/11/24

..

102‌

105‌

992104947.UG.FTS.B,

29.49%,

3/11/24

..

100‌

103‌

992105257.UG.FTS.B,

29.49%,

3/11/24

..

22‌

23‌

992107139.UG.FTS.B,

29.49%,

3/11/24

..

62‌

64‌

992107721.UG.FTS.B,

29.49%,

3/11/24

..

25‌

26‌

992108065.UG.FTS.B,

29.49%,

3/11/24

..

84‌

86‌

992110531.UG.FTS.B,

29.49%,

3/11/24

..

78‌

80‌

992113053.UG.FTS.B,

29.49%,

3/11/24

..

105‌

108‌

992113578.UG.FTS.B,

29.49%,

3/11/24

..

86‌

89‌

992115212.UG.FTS.B,

29.49%,

3/11/24

..

96‌

99‌

992116082.UG.FTS.B,

29.49%,

3/11/24

..

14‌

15‌

992116364.UG.FTS.B,

29.49%,

3/11/24

..

74‌

76‌

992116545.UG.FTS.B,

29.49%,

3/11/24

..

71‌

57‌

992118667.UG.FTS.B,

29.49%,

3/11/24

..

180‌

186‌

992119262.UG.FTS.B,

29.49%,

3/11/24

..

600‌

619‌

992123247.UG.FTS.B,

29.49%,

3/11/24

..

1,000‌

1,014‌

992123631.UG.FTS.B,

29.49%,

3/11/24

..

500‌

511‌

992123633.UG.FTS.B,

29.49%,

3/11/24

..

400‌

413‌

992123938.UG.FTS.B,

29.49%,

3/11/24

..

17‌

17‌

992127188.UG.FTS.B,

29.49%,

3/11/24

..

265‌

273‌

992127206.UG.FTS.B,

29.49%,

3/11/24

..

61‌

63‌

992127771.UG.FTS.B,

29.49%,

3/11/24

..

18‌

19‌

992129585.UG.FTS.B,

29.49%,

3/11/24

..

38‌

39‌

992131003.UG.FTS.B,

29.49%,

3/11/24

..

135‌

139‌

992131523.UG.FTS.B,

29.49%,

3/11/24

..

133‌

137‌

992132207.UG.FTS.B,

29.49%,

3/11/24

..

1,117‌

1,147‌

992134290.UG.FTS.B,

29.49%,

3/11/24

..

13‌

14‌

992136233.UG.FTS.B,

29.49%,

3/11/24

..

11‌

11‌

992138705.UG.FTS.B,

29.49%,

3/11/24

..

400‌

413‌

Description

Principal

Amount

Value

UGCard

(continued)

992139676.UG.FTS.B,

29.49%,

3/11/24

..

$

73‌

$

76‌

992141229.UG.FTS.B,

29.49%,

3/11/24

..

49‌

50‌

992145134.UG.FTS.B,

29.49%,

3/11/24

..

50‌

52‌

992145666.UG.FTS.B,

29.49%,

3/11/24

..

80‌

82‌

992148557.UG.FTS.B,

29.49%,

3/11/24

..

1,112‌

1,146‌

992149062.UG.FTS.B,

29.49%,

3/11/24

..

168‌

171‌

992149476.UG.FTS.B,

29.49%,

3/11/24

..

139‌

143‌

992149734.UG.FTS.B,

29.49%,

3/11/24

..

66‌

68‌

992152643.UG.FTS.B,

29.49%,

3/11/24

..

59‌

61‌

992153056.UG.FTS.B,

29.49%,

3/11/24

..

75‌

77‌

992153419.UG.FTS.B,

29.49%,

3/11/24

..

422‌

435‌

992154283.UG.FTS.B,

29.49%,

3/11/24

..

135‌

138‌

992155445.UG.FTS.B,

29.49%,

3/11/24

..

142‌

146‌

992155747.UG.FTS.B,

29.49%,

3/11/24

..

500‌

516‌

992156484.UG.FTS.B,

29.49%,

3/11/24

..

500‌

516‌

992157297.UG.FTS.B,

29.49%,

3/11/24

..

500‌

507‌

992158173.UG.FTS.B,

29.49%,

3/11/24

..

300‌

310‌

992159869.UG.FTS.B,

29.49%,

3/11/24

..

8‌

9‌

992160244.UG.FTS.B,

29.49%,

3/11/24

..

55‌

57‌

992163210.UG.FTS.B,

29.49%,

3/11/24

..

18‌

18‌

992164780.UG.FTS.B,

29.49%,

3/11/24

..

19‌

20‌

992165322.UG.FTS.B,

29.49%,

3/11/24

..

78‌

80‌

992166067.UG.FTS.B,

29.49%,

3/11/24

..

339‌

343‌

992166895.UG.FTS.B,

29.49%,

3/11/24

..

2,941‌

2,982‌

992169000.UG.FTS.B,

29.49%,

3/11/24

..

662‌

683‌

992169089.UG.FTS.B,

29.49%,

3/11/24

..

9‌

9‌

992170730.UG.FTS.B,

29.49%,

3/11/24

..

19‌

20‌

992174667.UG.FTS.B,

29.49%,

3/11/24

..

79‌

82‌

992177545.UG.FTS.B,

29.49%,

3/11/24

..

200‌

207‌

992178012.UG.FTS.B,

29.49%,

3/11/24

..

5‌

5‌

992180069.UG.FTS.B,

29.49%,

3/11/24

..

21‌

22‌

992182624.UG.FTS.B,

29.49%,

3/11/24

..

31‌

32‌

992183149.UG.FTS.B,

29.49%,

3/11/24

..

130‌

132‌

992186675.UG.FTS.B,

29.49%,

3/11/24

..

115‌

116‌

992193276.UG.FTS.B,

29.49%,

3/11/24

..

493‌

506‌

992194603.UG.FTS.B,

29.49%,

3/11/24

..

5‌

5‌

992196597.UG.FTS.B,

29.49%,

3/11/24

..

14‌

14‌

992198774.UG.FTS.B,

29.49%,

3/11/24

..

10‌

10‌

992199339.UG.FTS.B,

29.49%,

3/11/24

..

25‌

26‌

992199688.UG.FTS.B,

29.49%,

3/11/24

..

95‌

97‌

992201602.UG.FTS.B,

29.49%,

3/11/24

..

50‌

52‌

992204477.UG.FTS.B,

29.49%,

3/11/24

..

27‌

28‌

992206644.UG.FTS.B,

29.49%,

3/11/24

..

5‌

5‌

992206791.UG.FTS.B,

29.49%,

3/11/24

..

60‌

62‌

992216140.UG.FTS.B,

29.49%,

3/11/24

..

47‌

48‌

992216404.UG.FTS.B,

29.49%,

3/11/24

..

33‌

34‌

992217346.UG.FTS.B,

29.49%,

3/11/24

..

70‌

72‌

992219945.UG.FTS.B,

29.49%,

3/11/24

..

300‌

304‌

992219983.UG.FTS.B,

29.49%,

3/11/24

..

500‌

508‌

992228039.UG.FTS.B,

29.49%,

3/11/24

..

100‌

101‌

992228794.UG.FTS.B,

29.49%,

3/11/24

..

254‌

260‌

992231918.UG.FTS.B,

29.49%,

3/11/24

..

29‌

30‌

992233205.UG.FTS.B,

29.49%,

3/11/24

..

122‌

124‌

992234774.UG.FTS.B,

29.49%,

3/11/24

..

45‌

46‌

992235445.UG.FTS.B,

29.49%,

3/11/24

..

27‌

28‌

992236288.UG.FTS.B,

29.49%,

3/11/24

..

105‌

107‌

992236325.UG.FTS.B,

29.49%,

3/11/24

..

43‌

44‌

992237544.UG.FTS.B,

29.49%,

3/11/24

..

70‌

72‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

51

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

UGCard

(continued)

992238314.UG.FTS.B,

29.49%,

3/11/24

..

$

450‌

$

458‌

992240036.UG.FTS.B,

29.49%,

3/11/24

..

18‌

18‌

992245551.UG.FTS.B,

29.49%,

3/11/24

..

32‌

33‌

992245607.UG.FTS.B,

29.49%,

3/11/24

..

10‌

10‌

992248438.UG.FTS.B,

29.49%,

3/11/24

..

100‌

102‌

992248545.UG.FTS.B,

29.49%,

3/11/24

..

500‌

507‌

991979939.UG.FTS.B,

19.99%,

3/12/24

..

592‌

609‌

992015645.UG.FTS.B,

19.99%,

3/12/24

..

328‌

339‌

992046704.UG.FTS.B,

19.99%,

3/12/24

..

108‌

111‌

992055350.UG.FTS.B,

19.99%,

3/12/24

..

189‌

193‌

992059972.UG.FTS.B,

19.99%,

3/12/24

..

332‌

343‌

992062529.UG.FTS.B,

19.99%,

3/12/24

..

38‌

39‌

992071344.UG.FTS.B,

19.99%,

3/12/24

..

33‌

34‌

992099670.UG.FTS.B,

19.99%,

3/12/24

..

562‌

581‌

992159999.UG.FTS.B,

19.99%,

3/12/24

..

59‌

61‌

992197556.UG.FTS.B,

19.99%,

3/12/24

..

32‌

34‌

992222823.UG.FTS.B,

19.99%,

3/12/24

..

236‌

241‌

992255974.UG.FTS.B,

19.99%,

3/12/24

..

299‌

305‌

992257101.UG.FTS.B,

19.99%,

3/12/24

..

190‌

194‌

991992429.UG.FTS.B,

25.44%,

3/12/24

..

695‌

718‌

991993784.UG.FTS.B,

25.44%,

3/12/24

..

1,340‌

1,386‌

992006543.UG.FTS.B,

25.44%,

3/12/24

..

218‌

225‌

992100194.UG.FTS.B,

25.44%,

3/12/24

..

55‌

57‌

991991960.UG.FTS.B,

25.45%,

3/12/24

..

236‌

242‌

992054986.UG.FTS.B,

25.45%,

3/12/24

..

62‌

64‌

992020392.UG.FTS.B,

26.44%,

3/12/24

..

433‌

448‌

992043717.UG.FTS.B,

26.44%,

3/12/24

..

66‌

68‌

992058481.UG.FTS.B,

26.44%,

3/12/24

..

240‌

248‌

992074704.UG.FTS.B,

26.44%,

3/12/24

..

894‌

925‌

992147248.UG.FTS.B,

26.44%,

3/12/24

..

219‌

226‌

992080734.UG.FTS.B,

27.95%,

3/12/24

..

136‌

141‌

992085869.UG.FTS.B,

27.95%,

3/12/24

..

198‌

201‌

992117107.UG.FTS.B,

27.95%,

3/12/24

..

226‌

232‌

992194981.UG.FTS.B,

27.95%,

3/12/24

..

13‌

13‌

992236108.UG.FTS.B,

27.95%,

3/12/24

..

600‌

612‌

991987493.UG.FTS.B,

27.99%,

3/12/24

..

66‌

68‌

992032531.UG.FTS.B,

27.99%,

3/12/24

..

273‌

278‌

992211131.UG.FTS.B,

27.99%,

3/12/24

..

225‌

229‌

991976901.UG.FTS.B,

28.48%,

3/12/24

..

48‌

50‌

991977471.UG.FTS.B,

28.48%,

3/12/24

..

486‌

497‌

991977706.UG.FTS.B,

28.48%,

3/12/24

..

47‌

49‌

991978899.UG.FTS.B,

28.48%,

3/12/24

..

528‌

542‌

991979008.UG.FTS.B,

28.48%,

3/12/24

..

73‌

76‌

991980426.UG.FTS.B,

28.48%,

3/12/24

..

87‌

90‌

991980478.UG.FTS.B,

28.48%,

3/12/24

..

550‌

568‌

991980970.UG.FTS.B,

28.48%,

3/12/24

..

100‌

103‌

991981861.UG.FTS.B,

28.48%,

3/12/24

..

294‌

304‌

991981941.UG.FTS.B,

28.48%,

3/12/24

..

9‌

9‌

991987023.UG.FTS.B,

28.48%,

3/12/24

..

33‌

34‌

991988330.UG.FTS.B,

28.48%,

3/12/24

..

48‌

50‌

991989434.UG.FTS.B,

28.48%,

3/12/24

..

58‌

60‌

991989995.UG.FTS.B,

28.48%,

3/12/24

..

44‌

45‌

991991514.UG.FTS.B,

28.48%,

3/12/24

..

267‌

275‌

991991944.UG.FTS.B,

28.48%,

3/12/24

..

383‌

396‌

991993059.UG.FTS.B,

28.48%,

3/12/24

..

617‌

637‌

991993704.UG.FTS.B,

28.48%,

3/12/24

..

130‌

131‌

991994714.UG.FTS.B,

28.48%,

3/12/24

..

375‌

387‌

991994891.UG.FTS.B,

28.48%,

3/12/24

..

81‌

84‌

Description

Principal

Amount

Value

UGCard

(continued)

991995099.UG.FTS.B,

28.48%,

3/12/24

..

$

1,000‌

$

1,033‌

991995989.UG.FTS.B,

28.48%,

3/12/24

..

70‌

73‌

992003428.UG.FTS.B,

28.48%,

3/12/24

..

1,400‌

1,432‌

992004628.UG.FTS.B,

28.48%,

3/12/24

..

39‌

40‌

992016115.UG.FTS.B,

28.48%,

3/12/24

..

205‌

212‌

992016216.UG.FTS.B,

28.48%,

3/12/24

..

142‌

144‌

992018556.UG.FTS.B,

28.48%,

3/12/24

..

78‌

80‌

992019499.UG.FTS.B,

28.48%,

3/12/24

..

18‌

19‌

992019599.UG.FTS.B,

28.48%,

3/12/24

..

171‌

176‌

992023123.UG.FTS.B,

28.48%,

3/12/24

..

34‌

35‌

992033715.UG.FTS.B,

28.48%,

3/12/24

..

11‌

11‌

992036961.UG.FTS.B,

28.48%,

3/12/24

..

495‌

512‌

992041058.UG.FTS.B,

28.48%,

3/12/24

..

303‌

313‌

992052838.UG.FTS.B,

28.48%,

3/12/24

..

589‌

605‌

992056728.UG.FTS.B,

28.48%,

3/12/24

..

120‌

28‌

992060933.UG.FTS.B,

28.48%,

3/12/24

..

444‌

459‌

992061707.UG.FTS.B,

28.48%,

3/12/24

..

305‌

315‌

992061732.UG.FTS.B,

28.48%,

3/12/24

..

0‌

0‌

992064423.UG.FTS.B,

28.48%,

3/12/24

..

218‌

225‌

992072075.UG.FTS.B,

28.48%,

3/12/24

..

37‌

38‌

992080168.UG.FTS.B,

28.48%,

3/12/24

..

129‌

133‌

992089711.UG.FTS.B,

28.48%,

3/12/24

..

350‌

358‌

992103624.UG.FTS.B,

28.48%,

3/12/24

..

26‌

26‌

992108074.UG.FTS.B,

28.48%,

3/12/24

..

583‌

595‌

992128465.UG.FTS.B,

28.48%,

3/12/24

..

119‌

123‌

992140378.UG.FTS.B,

28.48%,

3/12/24

..

1,490‌

1,525‌

992144496.UG.FTS.B,

28.48%,

3/12/24

..

47‌

48‌

992175403.UG.FTS.B,

28.48%,

3/12/24

..

33‌

34‌

992227904.UG.FTS.B,

28.48%,

3/12/24

..

260‌

266‌

992239466.UG.FTS.B,

28.48%,

3/12/24

..

500‌

505‌

992245487.UG.FTS.B,

28.48%,

3/12/24

..

143‌

146‌

992246160.UG.FTS.B,

28.48%,

3/12/24

..

53‌

54‌

991981348.UG.FTS.B,

29.45%,

3/12/24

..

157‌

162‌

991995494.UG.FTS.B,

29.45%,

3/12/24

..

700‌

723‌

992082848.UG.FTS.B,

29.45%,

3/12/24

..

300‌

310‌

991987006.UG.FTS.B,

29.46%,

3/12/24

..

540‌

558‌

991987727.UG.FTS.B,

29.46%,

3/12/24

..

645‌

667‌

991992389.UG.FTS.B,

29.46%,

3/12/24

..

495‌

511‌

991996396.UG.FTS.B,

29.46%,

3/12/24

..

41‌

42‌

992009087.UG.FTS.B,

29.46%,

3/12/24

..

280‌

289‌

992020912.UG.FTS.B,

29.46%,

3/12/24

..

232‌

240‌

992081974.UG.FTS.B,

29.46%,

3/12/24

..

112‌

116‌

992132121.UG.FTS.B,

29.46%,

3/12/24

..

200‌

207‌

992154064.UG.FTS.B,

29.46%,

3/12/24

..

120‌

123‌

991976832.UG.FTS.B,

29.47%,

3/12/24

..

474‌

490‌

991977637.UG.FTS.B,

29.47%,

3/12/24

..

590‌

607‌

991989234.UG.FTS.B,

29.47%,

3/12/24

..

654‌

675‌

991994314.UG.FTS.B,

29.47%,

3/12/24

..

300‌

310‌

991994604.UG.FTS.B,

29.47%,

3/12/24

..

500‌

516‌

992005091.UG.FTS.B,

29.47%,

3/12/24

..

195‌

202‌

992015999.UG.FTS.B,

29.47%,

3/12/24

..

211‌

218‌

992028157.UG.FTS.B,

29.47%,

3/12/24

..

887‌

914‌

992030117.UG.FTS.B,

29.47%,

3/12/24

..

65‌

67‌

992039831.UG.FTS.B,

29.47%,

3/12/24

..

29‌

30‌

992104564.UG.FTS.B,

29.47%,

3/12/24

..

673‌

695‌

991979541.UG.FTS.B,

29.48%,

3/12/24

..

67‌

69‌

991983715.UG.FTS.B,

29.48%,

3/12/24

..

165‌

39‌

991984737.UG.FTS.B,

29.48%,

3/12/24

..

90‌

93‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

52

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

UGCard

(continued)

991985582.UG.FTS.B,

29.48%,

3/12/24

..

$

374‌

$

386‌

991987652.UG.FTS.B,

29.48%,

3/12/24

..

279‌

282‌

991990427.UG.FTS.B,

29.48%,

3/12/24

..

703‌

725‌

991991716.UG.FTS.B,

29.48%,

3/12/24

..

976‌

999‌

991993848.UG.FTS.B,

29.48%,

3/12/24

..

2,000‌

2,064‌

991994214.UG.FTS.B,

29.48%,

3/12/24

..

1,000‌

1,032‌

991994388.UG.FTS.B,

29.48%,

3/12/24

..

1,000‌

1,032‌

991995482.UG.FTS.B,

29.48%,

3/12/24

..

500‌

516‌

991995559.UG.FTS.B,

29.48%,

3/12/24

..

700‌

723‌

991996189.UG.FTS.B,

29.48%,

3/12/24

..

115‌

119‌

991996938.UG.FTS.B,

29.48%,

3/12/24

..

187‌

193‌

991999000.UG.FTS.B,

29.48%,

3/12/24

..

13‌

13‌

991999035.UG.FTS.B,

29.48%,

3/12/24

..

10‌

10‌

991999159.UG.FTS.B,

29.48%,

3/12/24

..

72‌

74‌

991999348.UG.FTS.B,

29.48%,

3/12/24

..

14‌

14‌

992001263.UG.FTS.B,

29.48%,

3/12/24

..

482‌

493‌

992007739.UG.FTS.B,

29.48%,

3/12/24

..

200‌

206‌

992007923.UG.FTS.B,

29.48%,

3/12/24

..

200‌

207‌

992011064.UG.FTS.B,

29.48%,

3/12/24

..

57‌

58‌

992018309.UG.FTS.B,

29.48%,

3/12/24

..

103‌

107‌

992020199.UG.FTS.B,

29.48%,

3/12/24

..

31‌

31‌

992025153.UG.FTS.B,

29.48%,

3/12/24

..

25‌

26‌

992033875.UG.FTS.B,

29.48%,

3/12/24

..

436‌

450‌

992036981.UG.FTS.B,

29.48%,

3/12/24

..

100‌

103‌

992041049.UG.FTS.B,

29.48%,

3/12/24

..

62‌

62‌

992048219.UG.FTS.B,

29.48%,

3/12/24

..

410‌

419‌

992050910.UG.FTS.B,

29.48%,

3/12/24

..

40‌

41‌

992060552.UG.FTS.B,

29.48%,

3/12/24

..

19‌

20‌

992061894.UG.FTS.B,

29.48%,

3/12/24

..

44‌

45‌

992061952.UG.FTS.B,

29.48%,

3/12/24

..

73‌

76‌

992068922.UG.FTS.B,

29.48%,

3/12/24

..

50‌

51‌

992084622.UG.FTS.B,

29.48%,

3/12/24

..

38‌

39‌

992091748.UG.FTS.B,

29.48%,

3/12/24

..

350‌

361‌

992092709.UG.FTS.B,

29.48%,

3/12/24

..

1,000‌

1,033‌

992096720.UG.FTS.B,

29.48%,

3/12/24

..

67‌

69‌

992103724.UG.FTS.B,

29.48%,

3/12/24

..

272‌

280‌

992114207.UG.FTS.B,

29.48%,

3/12/24

..

10‌

10‌

992116109.UG.FTS.B,

29.48%,

3/12/24

..

373‌

385‌

992118789.UG.FTS.B,

29.48%,

3/12/24

..

23‌

24‌

992149388.UG.FTS.B,

29.48%,

3/12/24

..

10‌

10‌

992155636.UG.FTS.B,

29.48%,

3/12/24

..

174‌

126‌

992159021.UG.FTS.B,

29.48%,

3/12/24

..

500‌

517‌

992175762.UG.FTS.B,

29.48%,

3/12/24

..

26‌

27‌

992186587.UG.FTS.B,

29.48%,

3/12/24

..

274‌

279‌

992200375.UG.FTS.B,

29.48%,

3/12/24

..

22‌

22‌

992203015.UG.FTS.B,

29.48%,

3/12/24

..

256‌

261‌

992219600.UG.FTS.B,

29.48%,

3/12/24

..

100‌

102‌

991975407.UG.FTS.B,

29.49%,

3/12/24

..

100‌

103‌

991976677.UG.FTS.B,

29.49%,

3/12/24

..

133‌

137‌

991976697.UG.FTS.B,

29.49%,

3/12/24

..

94‌

97‌

991976932.UG.FTS.B,

29.49%,

3/12/24

..

282‌

289‌

991977110.UG.FTS.B,

29.49%,

3/12/24

..

111‌

113‌

991977223.UG.FTS.B,

29.49%,

3/12/24

..

63‌

64‌

991977541.UG.FTS.B,

29.49%,

3/12/24

..

111‌

115‌

991977601.UG.FTS.B,

29.49%,

3/12/24

..

36‌

37‌

991977618.UG.FTS.B,

29.49%,

3/12/24

..

253‌

261‌

991977888.UG.FTS.B,

29.49%,

3/12/24

..

100‌

104‌

991978144.UG.FTS.B,

29.49%,

3/12/24

..

133‌

138‌

Description

Principal

Amount

Value

UGCard

(continued)

991979307.UG.FTS.B,

29.49%,

3/12/24

..

$

45‌

$

46‌

991979632.UG.FTS.B,

29.49%,

3/12/24

..

83‌

85‌

991980310.UG.FTS.B,

29.49%,

3/12/24

..

13‌

13‌

991980627.UG.FTS.B,

29.49%,

3/12/24

..

287‌

297‌

991981018.UG.FTS.B,

29.49%,

3/12/24

..

87‌

21‌

991981526.UG.FTS.B,

29.49%,

3/12/24

..

540‌

556‌

991982216.UG.FTS.B,

29.49%,

3/12/24

..

331‌

338‌

991982618.UG.FTS.B,

29.49%,

3/12/24

..

5‌

5‌

991982957.UG.FTS.B,

29.49%,

3/12/24

..

164‌

169‌

991983238.UG.FTS.B,

29.49%,

3/12/24

..

95‌

96‌

991983851.UG.FTS.B,

29.49%,

3/12/24

..

149‌

153‌

991984776.UG.FTS.B,

29.49%,

3/12/24

..

189‌

193‌

991984816.UG.FTS.B,

29.49%,

3/12/24

..

30‌

31‌

991984936.UG.FTS.B,

29.49%,

3/12/24

..

400‌

413‌

991985169.UG.FTS.B,

29.49%,

3/12/24

..

100‌

103‌

991985530.UG.FTS.B,

29.49%,

3/12/24

..

100‌

103‌

991985629.UG.FTS.B,

29.49%,

3/12/24

..

220‌

227‌

991986766.UG.FTS.B,

29.49%,

3/12/24

..

13‌

14‌

991986842.UG.FTS.B,

29.49%,

3/12/24

..

626‌

647‌

991987304.UG.FTS.B,

29.49%,

3/12/24

..

751‌

774‌

991987390.UG.FTS.B,

29.49%,

3/12/24

..

742‌

766‌

991987451.UG.FTS.B,

29.49%,

3/12/24

..

178‌

184‌

991987536.UG.FTS.B,

29.49%,

3/12/24

..

155‌

113‌

991987678.UG.FTS.B,

29.49%,

3/12/24

..

63‌

63‌

991987707.UG.FTS.B,

29.49%,

3/12/24

..

736‌

760‌

991987814.UG.FTS.B,

29.49%,

3/12/24

..

367‌

373‌

991987875.UG.FTS.B,

29.49%,

3/12/24

..

317‌

327‌

991988022.UG.FTS.B,

29.49%,

3/12/24

..

497‌

513‌

991988245.UG.FTS.B,

29.49%,

3/12/24

..

40‌

42‌

991988526.UG.FTS.B,

29.49%,

3/12/24

..

914‌

943‌

991988530.UG.FTS.B,

29.49%,

3/12/24

..

221‌

228‌

991988815.UG.FTS.B,

29.49%,

3/12/24

..

441‌

455‌

991988825.UG.FTS.B,

29.49%,

3/12/24

..

10‌

10‌

991988840.UG.FTS.B,

29.49%,

3/12/24

..

210‌

217‌

991989207.UG.FTS.B,

29.49%,

3/12/24

..

169‌

174‌

991989211.UG.FTS.B,

29.49%,

3/12/24

..

80‌

83‌

991989353.UG.FTS.B,

29.49%,

3/12/24

..

54‌

56‌

991989421.UG.FTS.B,

29.49%,

3/12/24

..

1,000‌

1,031‌

991989660.UG.FTS.B,

29.49%,

3/12/24

..

137‌

141‌

991989797.UG.FTS.B,

29.49%,

3/12/24

..

400‌

408‌

991990176.UG.FTS.B,

29.49%,

3/12/24

..

451‌

464‌

991990964.UG.FTS.B,

29.49%,

3/12/24

..

588‌

607‌

991991285.UG.FTS.B,

29.49%,

3/12/24

..

109‌

113‌

991991358.UG.FTS.B,

29.49%,

3/12/24

..

343‌

354‌

991991432.UG.FTS.B,

29.49%,

3/12/24

..

350‌

361‌

991991487.UG.FTS.B,

29.49%,

3/12/24

..

54‌

56‌

991991678.UG.FTS.B,

29.49%,

3/12/24

..

985‌

1,016‌

991991867.UG.FTS.B,

29.49%,

3/12/24

..

827‌

853‌

991991991.UG.FTS.B,

29.49%,

3/12/24

..

72‌

73‌

991992305.UG.FTS.B,

29.49%,

3/12/24

..

1,250‌

1,289‌

991992793.UG.FTS.B,

29.49%,

3/12/24

..

1,223‌

1,261‌

991992934.UG.FTS.B,

29.49%,

3/12/24

..

97‌

100‌

991993294.UG.FTS.B,

29.49%,

3/12/24

..

94‌

97‌

991993636.UG.FTS.B,

29.49%,

3/12/24

..

204‌

211‌

991993699.UG.FTS.B,

29.49%,

3/12/24

..

249‌

257‌

991993792.UG.FTS.B,

29.49%,

3/12/24

..

300‌

309‌

991993865.UG.FTS.B,

29.49%,

3/12/24

..

1,000‌

1,031‌

991993974.UG.FTS.B,

29.49%,

3/12/24

..

1,000‌

1,031‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

53

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

UGCard

(continued)

991994060.UG.FTS.B,

29.49%,

3/12/24

..

$

1,000‌

$

1,028‌

991994248.UG.FTS.B,

29.49%,

3/12/24

..

400‌

413‌

991994259.UG.FTS.B,

29.49%,

3/12/24

..

300‌

309‌

991994286.UG.FTS.B,

29.49%,

3/12/24

..

500‌

516‌

991995266.UG.FTS.B,

29.49%,

3/12/24

..

1,000‌

1,031‌

991995353.UG.FTS.B,

29.49%,

3/12/24

..

500‌

516‌

991996593.UG.FTS.B,

29.49%,

3/12/24

..

300‌

310‌

991997329.UG.FTS.B,

29.49%,

3/12/24

..

45‌

46‌

991998323.UG.FTS.B,

29.49%,

3/12/24

..

136‌

140‌

991998381.UG.FTS.B,

29.49%,

3/12/24

..

857‌

884‌

991998416.UG.FTS.B,

29.49%,

3/12/24

..

49‌

51‌

991999068.UG.FTS.B,

29.49%,

3/12/24

..

210‌

216‌

991999303.UG.FTS.B,

29.49%,

3/12/24

..

95‌

98‌

991999407.UG.FTS.B,

29.49%,

3/12/24

..

243‌

250‌

991999409.UG.FTS.B,

29.49%,

3/12/24

..

128‌

132‌

991999572.UG.FTS.B,

29.49%,

3/12/24

..

29‌

30‌

991999778.UG.FTS.B,

29.49%,

3/12/24

..

452‌

466‌

992000212.UG.FTS.B,

29.49%,

3/12/24

..

137‌

142‌

992001461.UG.FTS.B,

29.49%,

3/12/24

..

244‌

252‌

992002327.UG.FTS.B,

29.49%,

3/12/24

..

73‌

75‌

992002449.UG.FTS.B,

29.49%,

3/12/24

..

15‌

15‌

992003453.UG.FTS.B,

29.49%,

3/12/24

..

87‌

89‌

992004438.UG.FTS.B,

29.49%,

3/12/24

..

250‌

256‌

992005501.UG.FTS.B,

29.49%,

3/12/24

..

283‌

292‌

992006478.UG.FTS.B,

29.49%,

3/12/24

..

505‌

517‌

992007612.UG.FTS.B,

29.49%,

3/12/24

..

32‌

33‌

992008665.UG.FTS.B,

29.49%,

3/12/24

..

16‌

16‌

992009155.UG.FTS.B,

29.49%,

3/12/24

..

82‌

84‌

992009421.UG.FTS.B,

29.49%,

3/12/24

..

38‌

39‌

992009596.UG.FTS.B,

29.49%,

3/12/24

..

98‌

101‌

992009843.UG.FTS.B,

29.49%,

3/12/24

..

67‌

69‌

992009995.UG.FTS.B,

29.49%,

3/12/24

..

45‌

47‌

992009997.UG.FTS.B,

29.49%,

3/12/24

..

26‌

27‌

992010317.UG.FTS.B,

29.49%,

3/12/24

..

247‌

255‌

992010776.UG.FTS.B,

29.49%,

3/12/24

..

237‌

244‌

992010969.UG.FTS.B,

29.49%,

3/12/24

..

79‌

81‌

992013997.UG.FTS.B,

29.49%,

3/12/24

..

34‌

35‌

992014057.UG.FTS.B,

29.49%,

3/12/24

..

107‌

109‌

992014682.UG.FTS.B,

29.49%,

3/12/24

..

34‌

35‌

992014781.UG.FTS.B,

29.49%,

3/12/24

..

304‌

313‌

992015161.UG.FTS.B,

29.49%,

3/12/24

..

102‌

104‌

992015322.UG.FTS.B,

29.49%,

3/12/24

..

92‌

95‌

992016479.UG.FTS.B,

29.49%,

3/12/24

..

88‌

91‌

992016930.UG.FTS.B,

29.49%,

3/12/24

..

181‌

183‌

992017411.UG.FTS.B,

29.49%,

3/12/24

..

267‌

277‌

992017784.UG.FTS.B,

29.49%,

3/12/24

..

10‌

10‌

992018659.UG.FTS.B,

29.49%,

3/12/24

..

57‌

59‌

992018774.UG.FTS.B,

29.49%,

3/12/24

..

87‌

90‌

992018907.UG.FTS.B,

29.49%,

3/12/24

..

16‌

17‌

992019620.UG.FTS.B,

29.49%,

3/12/24

..

54‌

56‌

992019910.UG.FTS.B,

29.49%,

3/12/24

..

192‌

199‌

992020710.UG.FTS.B,

29.49%,

3/12/24

..

43‌

45‌

992020735.UG.FTS.B,

29.49%,

3/12/24

..

101‌

103‌

992021468.UG.FTS.B,

29.49%,

3/12/24

..

562‌

580‌

992022851.UG.FTS.B,

29.49%,

3/12/24

..

1,320‌

1,362‌

992023917.UG.FTS.B,

29.49%,

3/12/24

..

65‌

66‌

992024943.UG.FTS.B,

29.49%,

3/12/24

..

71‌

73‌

992025160.UG.FTS.B,

29.49%,

3/12/24

..

103‌

105‌

Description

Principal

Amount

Value

UGCard

(continued)

992025362.UG.FTS.B,

29.49%,

3/12/24

..

$

103‌

$

106‌

992025664.UG.FTS.B,

29.49%,

3/12/24

..

44‌

45‌

992025911.UG.FTS.B,

29.49%,

3/12/24

..

454‌

109‌

992029135.UG.FTS.B,

29.49%,

3/12/24

..

108‌

112‌

992029987.UG.FTS.B,

29.49%,

3/12/24

..

89‌

92‌

992031381.UG.FTS.B,

29.49%,

3/12/24

..

148‌

150‌

992031505.UG.FTS.B,

29.49%,

3/12/24

..

32‌

33‌

992032670.UG.FTS.B,

29.49%,

3/12/24

..

30‌

31‌

992033278.UG.FTS.B,

29.49%,

3/12/24

..

2,239‌

2,288‌

992033997.UG.FTS.B,

29.49%,

3/12/24

..

93‌

96‌

992035853.UG.FTS.B,

29.49%,

3/12/24

..

40‌

41‌

992036235.UG.FTS.B,

29.49%,

3/12/24

..

588‌

607‌

992037572.UG.FTS.B,

29.49%,

3/12/24

..

800‌

825‌

992039178.UG.FTS.B,

29.49%,

3/12/24

..

440‌

454‌

992039465.UG.FTS.B,

29.49%,

3/12/24

..

100‌

103‌

992040952.UG.FTS.B,

29.49%,

3/12/24

..

200‌

207‌

992042625.UG.FTS.B,

29.49%,

3/12/24

..

38‌

39‌

992043515.UG.FTS.B,

29.49%,

3/12/24

..

61‌

63‌

992046325.UG.FTS.B,

29.49%,

3/12/24

..

165‌

170‌

992046656.UG.FTS.B,

29.49%,

3/12/24

..

234‌

240‌

992048873.UG.FTS.B,

29.49%,

3/12/24

..

360‌

370‌

992051119.UG.FTS.B,

29.49%,

3/12/24

..

154‌

156‌

992051345.UG.FTS.B,

29.49%,

3/12/24

..

24‌

25‌

992051888.UG.FTS.B,

29.49%,

3/12/24

..

65‌

67‌

992051938.UG.FTS.B,

29.49%,

3/12/24

..

37‌

38‌

992052800.UG.FTS.B,

29.49%,

3/12/24

..

54‌

56‌

992056072.UG.FTS.B,

29.49%,

3/12/24

..

248‌

256‌

992057625.UG.FTS.B,

29.49%,

3/12/24

..

2,000‌

2,063‌

992061169.UG.FTS.B,

29.49%,

3/12/24

..

65‌

67‌

992061339.UG.FTS.B,

29.49%,

3/12/24

..

19‌

19‌

992061490.UG.FTS.B,

29.49%,

3/12/24

..

14‌

14‌

992062582.UG.FTS.B,

29.49%,

3/12/24

..

43‌

44‌

992063067.UG.FTS.B,

29.49%,

3/12/24

..

1,211‌

1,249‌

992064377.UG.FTS.B,

29.49%,

3/12/24

..

389‌

402‌

992064942.UG.FTS.B,

29.49%,

3/12/24

..

288‌

298‌

992066453.UG.FTS.B,

29.49%,

3/12/24

..

120‌

122‌

992066751.UG.FTS.B,

29.49%,

3/12/24

..

500‌

516‌

992067880.UG.FTS.B,

29.49%,

3/12/24

..

324‌

333‌

992069103.UG.FTS.B,

29.49%,

3/12/24

..

103‌

105‌

992069159.UG.FTS.B,

29.49%,

3/12/24

..

81‌

84‌

992071213.UG.FTS.B,

29.49%,

3/12/24

..

75‌

78‌

992071436.UG.FTS.B,

29.49%,

3/12/24

..

147‌

152‌

992071935.UG.FTS.B,

29.49%,

3/12/24

..

105‌

108‌

992072600.UG.FTS.B,

29.49%,

3/12/24

..

260‌

266‌

992072777.UG.FTS.B,

29.49%,

3/12/24

..

131‌

135‌

992073192.UG.FTS.B,

29.49%,

3/12/24

..

28‌

29‌

992075247.UG.FTS.B,

29.49%,

3/12/24

..

242‌

250‌

992075273.UG.FTS.B,

29.49%,

3/12/24

..

47‌

48‌

992075453.UG.FTS.B,

29.49%,

3/12/24

..

186‌

191‌

992076101.UG.FTS.B,

29.49%,

3/12/24

..

100‌

103‌

992077071.UG.FTS.B,

29.49%,

3/12/24

..

44‌

46‌

992077887.UG.FTS.B,

29.49%,

3/12/24

..

32‌

33‌

992086276.UG.FTS.B,

29.49%,

3/12/24

..

45‌

47‌

992090345.UG.FTS.B,

29.49%,

3/12/24

..

260‌

268‌

992091504.UG.FTS.B,

29.49%,

3/12/24

..

120‌

124‌

992093253.UG.FTS.B,

29.49%,

3/12/24

..

50‌

16‌

992094005.UG.FTS.B,

29.49%,

3/12/24

..

84‌

87‌

992094278.UG.FTS.B,

29.49%,

3/12/24

..

13‌

14‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

54

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

UGCard

(continued)

992095078.UG.FTS.B,

29.49%,

3/12/24

..

$

146‌

$

148‌

992096376.UG.FTS.B,

29.49%,

3/12/24

..

287‌

296‌

992097592.UG.FTS.B,

29.49%,

3/12/24

..

1,041‌

1,070‌

992098622.UG.FTS.B,

29.49%,

3/12/24

..

84‌

85‌

992104579.UG.FTS.B,

29.49%,

3/12/24

..

11‌

6‌

992106172.UG.FTS.B,

29.49%,

3/12/24

..

40‌

42‌

992107848.UG.FTS.B,

29.49%,

3/12/24

..

26‌

27‌

992108297.UG.FTS.B,

29.49%,

3/12/24

..

19‌

9‌

992109391.UG.FTS.B,

29.49%,

3/12/24

..

1,337‌

1,362‌

992111311.UG.FTS.B,

29.49%,

3/12/24

...

45‌

46‌

992113487.UG.FTS.B,

29.49%,

3/12/24

..

715‌

731‌

992115099.UG.FTS.B,

29.49%,

3/12/24

..

79‌

81‌

992115113.UG.FTS.B,

29.49%,

3/12/24

..

18‌

19‌

992115571.UG.FTS.B,

29.49%,

3/12/24

..

33‌

34‌

992116168.UG.FTS.B,

29.49%,

3/12/24

..

56‌

58‌

992119553.UG.FTS.B,

29.49%,

3/12/24

..

198‌

205‌

992125414.UG.FTS.B,

29.49%,

3/12/24

..

213‌

220‌

992125587.UG.FTS.B,

29.49%,

3/12/24

..

231‌

239‌

992128285.UG.FTS.B,

29.49%,

3/12/24

..

98‌

101‌

992134042.UG.FTS.B,

29.49%,

3/12/24

..

760‌

178‌

992134548.UG.FTS.B,

29.49%,

3/12/24

..

103‌

106‌

992135790.UG.FTS.B,

29.49%,

3/12/24

..

41‌

42‌

992136216.UG.FTS.B,

29.49%,

3/12/24

..

123‌

127‌

992136490.UG.FTS.B,

29.49%,

3/12/24

..

58‌

60‌

992137680.UG.FTS.B,

29.49%,

3/12/24

..

177‌

183‌

992140066.UG.FTS.B,

29.49%,

3/12/24

..

8‌

8‌

992141965.UG.FTS.B,

29.49%,

3/12/24

..

50‌

52‌

992143280.UG.FTS.B,

29.49%,

3/12/24

..

31‌

32‌

992144762.UG.FTS.B,

29.49%,

3/12/24

..

243‌

248‌

992144826.UG.FTS.B,

29.49%,

3/12/24

..

125‌

129‌

992146740.UG.FTS.B,

29.49%,

3/12/24

..

65‌

67‌

992147410.UG.FTS.B,

29.49%,

3/12/24

..

69‌

71‌

992148211.UG.FTS.B,

29.49%,

3/12/24

..

133‌

137‌

992148881.UG.FTS.B,

29.49%,

3/12/24

..

65‌

67‌

992150155.UG.FTS.B,

29.49%,

3/12/24

..

249‌

254‌

992150344.UG.FTS.B,

29.49%,

3/12/24

..

127‌

131‌

992152232.UG.FTS.B,

29.49%,

3/12/24

..

33‌

34‌

992152914.UG.FTS.B,

29.49%,

3/12/24

..

146‌

151‌

992153259.UG.FTS.B,

29.49%,

3/12/24

..

6‌

7‌

992156606.UG.FTS.B,

29.49%,

3/12/24

..

38‌

39‌

992157053.UG.FTS.B,

29.49%,

3/12/24

..

500‌

516‌

992158034.UG.FTS.B,

29.49%,

3/12/24

..

300‌

307‌

992159913.UG.FTS.B,

29.49%,

3/12/24

..

241‌

249‌

992162014.UG.FTS.B,

29.49%,

3/12/24

..

53‌

54‌

992162106.UG.FTS.B,

29.49%,

3/12/24

..

103‌

104‌

992162736.UG.FTS.B,

29.49%,

3/12/24

..

190‌

193‌

992163505.UG.FTS.B,

29.49%,

3/12/24

..

7‌

7‌

992164429.UG.FTS.B,

29.49%,

3/12/24

..

99‌

102‌

992165141.UG.FTS.B,

29.49%,

3/12/24

..

114‌

116‌

992168384.UG.FTS.B,

29.49%,

3/12/24

..

40‌

41‌

992168675.UG.FTS.B,

29.49%,

3/12/24

..

10‌

10‌

992170095.UG.FTS.B,

29.49%,

3/12/24

..

24‌

25‌

992171939.UG.FTS.B,

29.49%,

3/12/24

..

2‌

2‌

992172571.UG.FTS.B,

29.49%,

3/12/24

..

8‌

8‌

992173936.UG.FTS.B,

29.49%,

3/12/24

..

312‌

322‌

992173972.UG.FTS.B,

29.49%,

3/12/24

..

529‌

546‌

992175471.UG.FTS.B,

29.49%,

3/12/24

..

587‌

604‌

992177601.UG.FTS.B,

29.49%,

3/12/24

..

25‌

26‌

Description

Principal

Amount

Value

UGCard

(continued)

992180237.UG.FTS.B,

29.49%,

3/12/24

..

$

62‌

$

64‌

992182279.UG.FTS.B,

29.49%,

3/12/24

..

55‌

57‌

992182292.UG.FTS.B,

29.49%,

3/12/24

..

5‌

5‌

992190865.UG.FTS.B,

29.49%,

3/12/24

..

100‌

101‌

992191050.UG.FTS.B,

29.49%,

3/12/24

..

20‌

21‌

992191555.UG.FTS.B,

29.49%,

3/12/24

..

17‌

17‌

992194704.UG.FTS.B,

29.49%,

3/12/24

..

91‌

93‌

992195564.UG.FTS.B,

29.49%,

3/12/24

..

43‌

45‌

992196832.UG.FTS.B,

29.49%,

3/12/24

..

935‌

949‌

992198780.UG.FTS.B,

29.49%,

3/12/24

..

113‌

115‌

992200535.UG.FTS.B,

29.49%,

3/12/24

..

15‌

15‌

992201922.UG.FTS.B,

29.49%,

3/12/24

..

122‌

124‌

992206887.UG.FTS.B,

29.49%,

3/12/24

..

15‌

15‌

992207252.UG.FTS.B,

29.49%,

3/12/24

..

29‌

30‌

992207898.UG.FTS.B,

29.49%,

3/12/24

..

92‌

93‌

992208334.UG.FTS.B,

29.49%,

3/12/24

..

49‌

51‌

992208931.UG.FTS.B,

29.49%,

3/12/24

..

150‌

152‌

992209496.UG.FTS.B,

29.49%,

3/12/24

..

122‌

126‌

992210491.UG.FTS.B,

29.49%,

3/12/24

..

33‌

34‌

992212582.UG.FTS.B,

29.49%,

3/12/24

..

70‌

72‌

992214108.UG.FTS.B,

29.49%,

3/12/24

..

99‌

101‌

992218476.UG.FTS.B,

29.49%,

3/12/24

..

200‌

203‌

992228536.UG.FTS.B,

29.49%,

3/12/24

..

285‌

289‌

992228916.UG.FTS.B,

29.49%,

3/12/24

..

600‌

611‌

992230804.UG.FTS.B,

29.49%,

3/12/24

..

174‌

177‌

992231303.UG.FTS.B,

29.49%,

3/12/24

..

80‌

82‌

992231708.UG.FTS.B,

29.49%,

3/12/24

..

130‌

132‌

992232221.UG.FTS.B,

29.49%,

3/12/24

..

56‌

58‌

992233767.UG.FTS.B,

29.49%,

3/12/24

..

79‌

82‌

992238891.UG.FTS.B,

29.49%,

3/12/24

..

150‌

153‌

992238895.UG.FTS.B,

29.49%,

3/12/24

..

300‌

306‌

992238974.UG.FTS.B,

29.49%,

3/12/24

..

142‌

147‌

992240016.UG.FTS.B,

29.49%,

3/12/24

..

18‌

19‌

992242905.UG.FTS.B,

29.49%,

3/12/24

..

100‌

101‌

992243303.UG.FTS.B,

29.49%,

3/12/24

..

36‌

36‌

992244453.UG.FTS.B,

29.49%,

3/12/24

..

95‌

96‌

992245429.UG.FTS.B,

29.49%,

3/12/24

..

450‌

457‌

992246985.UG.FTS.B,

29.49%,

3/12/24

..

489‌

498‌

992248637.UG.FTS.B,

29.49%,

3/12/24

..

201‌

204‌

992251449.UG.FTS.B,

29.49%,

3/12/24

..

121‌

125‌

992252453.UG.FTS.B,

29.49%,

3/12/24

..

12‌

12‌

992256192.UG.FTS.B,

29.49%,

3/12/24

..

214‌

217‌

992256719.UG.FTS.B,

29.49%,

3/12/24

..

200‌

203‌

991976016.UG.FTS.B,

29.99%,

3/12/24

..

220‌

227‌

992194961.UG.FTS.B,

29.99%,

3/12/24

..

68‌

70‌

992257356.UG.FTS.B,

19.99%,

3/13/24

..

86‌

89‌

992238746.UG.FTS.B,

27.99%,

3/13/24

..

250‌

255‌

992248183.UG.FTS.B,

27.99%,

3/13/24

..

105‌

107‌

992221205.UG.FTS.B,

28.48%,

3/13/24

..

49‌

51‌

992233304.UG.FTS.B,

28.48%,

3/13/24

..

49‌

50‌

992257459.UG.FTS.B,

28.48%,

3/13/24

..

1,957‌

2,003‌

992222620.UG.FTS.B,

29.48%,

3/13/24

..

85‌

88‌

992237967.UG.FTS.B,

29.48%,

3/13/24

..

350‌

357‌

992244001.UG.FTS.B,

29.48%,

3/13/24

..

291‌

297‌

992252724.UG.FTS.B,

29.48%,

3/13/24

..

23‌

24‌

992203426.UG.FTS.B,

29.49%,

3/13/24

..

5‌

5‌

992221470.UG.FTS.B,

29.49%,

3/13/24

..

11‌

11‌

992221497.UG.FTS.B,

29.49%,

3/13/24

..

1,730‌

1,764‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

55

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

UGCard

(continued)

992225158.UG.FTS.B,

29.49%,

3/13/24

..

$

72‌

$

75‌

992225162.UG.FTS.B,

29.49%,

3/13/24

..

14‌

15‌

992230107.UG.FTS.B,

29.49%,

3/13/24

..

218‌

225‌

992230676.UG.FTS.B,

29.49%,

3/13/24

..

16‌

16‌

992231773.UG.FTS.B,

29.49%,

3/13/24

..

49‌

51‌

992232544.UG.FTS.B,

29.49%,

3/13/24

..

54‌

56‌

992234849.UG.FTS.B,

29.49%,

3/13/24

..

14‌

14‌

992236245.UG.FTS.B,

29.49%,

3/13/24

..

167‌

170‌

992238039.UG.FTS.B,

29.49%,

3/13/24

..

250‌

254‌

992245168.UG.FTS.B,

29.49%,

3/13/24

..

10‌

10‌

992246132.UG.FTS.B,

29.49%,

3/13/24

..

125‌

127‌

992247253.UG.FTS.B,

29.49%,

3/13/24

..

50‌

52‌

992248532.UG.FTS.B,

29.49%,

3/13/24

..

130‌

132‌

992248601.UG.FTS.B,

29.49%,

3/13/24

..

126‌

128‌

992249635.UG.FTS.B,

29.49%,

3/13/24

..

88‌

91‌

992249827.UG.FTS.B,

29.49%,

3/13/24

..

38‌

39‌

992251337.UG.FTS.B,

29.49%,

3/13/24

..

26‌

26‌

992251901.UG.FTS.B,

29.49%,

3/13/24

..

48‌

16‌

992253312.UG.FTS.B,

29.49%,

3/13/24

..

40‌

41‌

992254024.UG.FTS.B,

29.49%,

3/13/24

..

23‌

23‌

992255142.UG.FTS.B,

29.49%,

3/13/24

..

14‌

14‌

992255744.UG.FTS.B,

29.49%,

3/13/24

..

39‌

39‌

992230360.UG.FTS.B,

19.99%,

3/14/24

..

1,268‌

1,295‌

992229986.UG.FTS.B,

28.48%,

3/14/24

..

387‌

391‌

992236718.UG.FTS.B,

28.48%,

3/14/24

..

19‌

20‌

992255705.UG.FTS.B,

28.48%,

3/14/24

..

45‌

46‌

992226697.UG.FTS.B,

29.48%,

3/14/24

..

205‌

210‌

992256645.UG.FTS.B,

29.48%,

3/14/24

..

230‌

235‌

992257410.UG.FTS.B,

29.48%,

3/14/24

..

2,000‌

2,020‌

992221114.UG.FTS.B,

29.49%,

3/14/24

..

956‌

971‌

992223457.UG.FTS.B,

29.49%,

3/14/24

..

244‌

250‌

992224349.UG.FTS.B,

29.49%,

3/14/24

..

10‌

10‌

992227885.UG.FTS.B,

29.49%,

3/14/24

..

300‌

305‌

992228449.UG.FTS.B,

29.49%,

3/14/24

..

100‌

102‌

992229543.UG.FTS.B,

29.49%,

3/14/24

..

240‌

244‌

992230189.UG.FTS.B,

29.49%,

3/14/24

..

8‌

8‌

992232418.UG.FTS.B,

29.49%,

3/14/24

..

154‌

156‌

992233606.UG.FTS.B,

29.49%,

3/14/24

..

25‌

25‌

992235823.UG.FTS.B,

29.49%,

3/14/24

..

12‌

13‌

992235871.UG.FTS.B,

29.49%,

3/14/24

..

44‌

45‌

992237399.UG.FTS.B,

29.49%,

3/14/24

..

85‌

88‌

992237932.UG.FTS.B,

29.49%,

3/14/24

..

200‌

204‌

992245035.UG.FTS.B,

29.49%,

3/14/24

..

457‌

465‌

992247003.UG.FTS.B,

29.49%,

3/14/24

..

250‌

254‌

992248778.UG.FTS.B,

29.49%,

3/14/24

..

92‌

94‌

992249113.UG.FTS.B,

29.49%,

3/14/24

..

128‌

130‌

992250284.UG.FTS.B,

29.49%,

3/14/24

..

76‌

78‌

992250892.UG.FTS.B,

29.49%,

3/14/24

..

23‌

24‌

992251050.UG.FTS.B,

29.49%,

3/14/24

..

53‌

55‌

992253009.UG.FTS.B,

29.49%,

3/14/24

..

99‌

101‌

992255810.UG.FTS.B,

29.49%,

3/14/24

..

150‌

153‌

992230745.UG.FTS.B,

15.47%,

3/15/24

..

291‌

300‌

992222159.UG.FTS.B,

19.3%,

3/15/24

...

62‌

64‌

992240971.UG.FTS.B,

19.96%,

3/15/24

..

103‌

105‌

992231888.UG.FTS.B,

20.47%,

3/15/24

..

247‌

253‌

992227146.UG.FTS.B,

21.48%,

3/15/24

..

75‌

78‌

992234871.UG.FTS.B,

21.48%,

3/15/24

..

2,482‌

2,544‌

992256853.UG.FTS.B,

21.48%,

3/15/24

..

1,750‌

1,794‌

Description

Principal

Amount

Value

UGCard

(continued)

992257016.UG.FTS.B,

21.48%,

3/15/24

..

$

300‌

$

307‌

992257213.UG.FTS.B,

22.47%,

3/15/24

..

250‌

256‌

992231728.UG.FTS.B,

23.45%,

3/15/24

..

26‌

27‌

992235610.UG.FTS.B,

28.48%,

3/15/24

..

100‌

102‌

992237269.UG.FTS.B,

28.48%,

3/15/24

..

244‌

249‌

992239348.UG.FTS.B,

28.48%,

3/15/24

..

17‌

17‌

992243511.UG.FTS.B,

28.48%,

3/15/24

..

106‌

109‌

992248857.UG.FTS.B,

28.48%,

3/15/24

..

105‌

106‌

992256624.UG.FTS.B,

28.48%,

3/15/24

..

500‌

511‌

992244370.UG.FTS.B,

29.46%,

3/15/24

..

72‌

75‌

992247130.UG.FTS.B,

29.47%,

3/15/24

..

50‌

52‌

992228817.UG.FTS.B,

29.49%,

3/15/24

..

954‌

984‌

992229492.UG.FTS.B,

29.49%,

3/15/24

..

100‌

103‌

992236571.UG.FTS.B,

29.49%,

3/15/24

..

85‌

88‌

992237964.UG.FTS.B,

29.49%,

3/15/24

..

700‌

712‌

992238035.UG.FTS.B,

29.49%,

3/15/24

..

60‌

62‌

992241085.UG.FTS.B,

29.49%,

3/15/24

..

195‌

199‌

992241471.UG.FTS.B,

29.49%,

3/15/24

..

116‌

118‌

992248520.UG.FTS.B,

29.49%,

3/15/24

..

30‌

31‌

992251172.UG.FTS.B,

29.49%,

3/15/24

..

24‌

25‌

992253240.UG.FTS.B,

29.49%,

3/15/24

..

39‌

40‌

992255343.UG.FTS.B,

29.49%,

3/15/24

..

43‌

44‌

992256440.UG.FTS.B,

29.49%,

3/15/24

..

200‌

203‌

992256594.UG.FTS.B,

29.49%,

3/15/24

..

80‌

83‌

992257450.UG.FTS.B,

29.49%,

3/15/24

..

261‌

265‌

991490669.UG.FTS.B,

29.49%,

1/01/25

..

259‌

246‌

992017615.UG.FTS.B,

29.49%,

2/17/25

..

36‌

37‌

991980947.UG.FTS.B,

19.21%,

2/19/25

..

0‌

0‌

991899782.UG.FTS.B,

21.98%,

2/19/25

..

217‌

140‌

991846734.UG.FTS.B,

16.99%,

2/23/25

..

1,445‌

1,498‌

991892750.UG.FTS.B,

16.99%,

2/23/25

..

1,559‌

1,623‌

991856820.UG.FTS.B,

17.99%,

2/23/25

..

333‌

344‌

991846514.UG.FTS.B,

18.97%,

2/23/25

..

485‌

499‌

991951462.UG.FTS.B,

18.97%,

2/23/25

..

461‌

477‌

992071158.UG.FTS.B,

18.97%,

2/23/25

..

666‌

687‌

992075280.UG.FTS.B,

18.97%,

2/23/25

..

1,029‌

1,062‌

991848979.UG.FTS.B,

19.21%,

2/23/25

..

546‌

562‌

991927049.UG.FTS.B,

19.21%,

2/23/25

..

87‌

90‌

991951293.UG.FTS.B,

19.21%,

2/23/25

..

1,733‌

1,795‌

992095856.UG.FTS.B,

19.21%,

2/23/25

..

285‌

294‌

991870310.UG.FTS.B,

19.99%,

2/23/25

..

477‌

486‌

991875395.UG.FTS.B,

19.99%,

2/23/25

..

130‌

131‌

991883816.UG.FTS.B,

19.99%,

2/23/25

..

52‌

54‌

991902754.UG.FTS.B,

19.99%,

2/23/25

..

251‌

257‌

991958243.UG.FTS.B,

19.99%,

2/23/25

..

276‌

286‌

992085994.UG.FTS.B,

19.99%,

2/23/25

..

73‌

75‌

992095669.UG.FTS.B,

19.99%,

2/23/25

..

138‌

141‌

992099081.UG.FTS.B,

19.99%,

2/23/25

..

1,611‌

1,655‌

991898820.UG.FTS.B,

20.46%,

2/23/25

..

386‌

398‌

992002122.UG.FTS.B,

20.97%,

2/23/25

..

1,653‌

1,702‌

991857987.UG.FTS.B,

21.46%,

2/23/25

..

330‌

342‌

991882774.UG.FTS.B,

21.46%,

2/23/25

..

803‌

831‌

991849042.UG.FTS.B,

21.97%,

2/23/25

..

223‌

231‌

991846794.UG.FTS.B,

21.98%,

2/23/25

..

140‌

145‌

991857592.UG.FTS.B,

21.98%,

2/23/25

..

1,203‌

1,232‌

991884675.UG.FTS.B,

21.98%,

2/23/25

..

728‌

751‌

991879827.UG.FTS.B,

22.95%,

2/23/25

..

1,412‌

1,460‌

992094743.UG.FTS.B,

22.95%,

2/23/25

..

46‌

47‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

56

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

UGCard

(continued)

991850940.UG.FTS.B,

22.97%,

2/23/25

..

$

752‌

$

778‌

991845899.UG.FTS.B,

23.95%,

2/23/25

..

2‌

2‌

992088175.UG.FTS.B,

23.95%,

2/23/25

..

19‌

20‌

991862548.UG.FTS.B,

25.95%,

2/23/25

..

135‌

139‌

991846366.UG.FTS.B,

28.98%,

2/23/25

..

2,000‌

2,040‌

991848952.UG.FTS.B,

28.98%,

2/23/25

..

38‌

39‌

991850018.UG.FTS.B,

28.98%,

2/23/25

..

278‌

288‌

991850458.UG.FTS.B,

28.98%,

2/23/25

..

1,342‌

1,389‌

991850551.UG.FTS.B,

28.98%,

2/23/25

..

132‌

137‌

991855285.UG.FTS.B,

28.98%,

2/23/25

..

276‌

285‌

991855922.UG.FTS.B,

28.98%,

2/23/25

..

723‌

748‌

991857540.UG.FTS.B,

28.98%,

2/23/25

..

480‌

497‌

991857999.UG.FTS.B,

28.98%,

2/23/25

..

144‌

149‌

991858538.UG.FTS.B,

28.98%,

2/23/25

..

767‌

794‌

991859432.UG.FTS.B,

28.98%,

2/23/25

..

25‌

26‌

991862467.UG.FTS.B,

28.98%,

2/23/25

..

262‌

272‌

991871191.UG.FTS.B,

28.98%,

2/23/25

..

824‌

858‌

991875679.UG.FTS.B,

28.98%,

2/23/25

..

345‌

357‌

991877666.UG.FTS.B,

28.98%,

2/23/25

..

1,543‌

1,555‌

991880113.UG.FTS.B,

28.98%,

2/23/25

..

86‌

89‌

991883597.UG.FTS.B,

28.98%,

2/23/25

..

499‌

517‌

991885208.UG.FTS.B,

28.98%,

2/23/25

..

599‌

607‌

991890603.UG.FTS.B,

28.98%,

2/23/25

..

145‌

148‌

991905526.UG.FTS.B,

28.98%,

2/23/25

..

138‌

144‌

991926438.UG.FTS.B,

28.98%,

2/23/25

..

374‌

389‌

991942115.UG.FTS.B,

28.98%,

2/23/25

..

211‌

219‌

991947006.UG.FTS.B,

28.98%,

2/23/25

..

835‌

858‌

991949036.UG.FTS.B,

28.98%,

2/23/25

..

121‌

124‌

991964351.UG.FTS.B,

28.98%,

2/23/25

..

984‌

1,018‌

991967238.UG.FTS.B,

28.98%,

2/23/25

..

56‌

56‌

991979851.UG.FTS.B,

28.98%,

2/23/25

..

524‌

538‌

992007944.UG.FTS.B,

28.98%,

2/23/25

..

170‌

175‌

992014951.UG.FTS.B,

28.98%,

2/23/25

..

32‌

33‌

992033819.UG.FTS.B,

28.98%,

2/23/25

..

17‌

17‌

992055020.UG.FTS.B,

28.98%,

2/23/25

..

388‌

398‌

992058874.UG.FTS.B,

28.98%,

2/23/25

..

74‌

76‌

992068595.UG.FTS.B,

28.98%,

2/23/25

..

149‌

153‌

992080455.UG.FTS.B,

28.98%,

2/23/25

..

251‌

258‌

992080795.UG.FTS.B,

28.98%,

2/23/25

..

99‌

103‌

992094309.UG.FTS.B,

28.98%,

2/23/25

..

38‌

39‌

992094388.UG.FTS.B,

28.98%,

2/23/25

..

436‌

448‌

992095459.UG.FTS.B,

28.98%,

2/23/25

..

35‌

36‌

992096689.UG.FTS.B,

28.98%,

2/23/25

..

284‌

292‌

992097053.UG.FTS.B,

28.98%,

2/23/25

..

863‌

885‌

992101060.UG.FTS.B,

28.98%,

2/23/25

..

76‌

78‌

992101172.UG.FTS.B,

28.98%,

2/23/25

..

27‌

28‌

991861609.UG.FTS.B,

29.45%,

2/23/25

..

748‌

758‌

991834666.UG.FTS.B,

29.48%,

2/23/25

..

2,096‌

2,167‌

991845930.UG.FTS.B,

29.49%,

2/23/25

..

2,170‌

2,245‌

991846030.UG.FTS.B,

29.49%,

2/23/25

..

142‌

144‌

991846424.UG.FTS.B,

29.49%,

2/23/25

..

268‌

277‌

991847993.UG.FTS.B,

29.49%,

2/23/25

..

686‌

710‌

991848183.UG.FTS.B,

29.49%,

2/23/25

..

1,147‌

1,171‌

991849568.UG.FTS.B,

29.49%,

2/23/25

..

2,098‌

2,141‌

991850624.UG.FTS.B,

29.49%,

2/23/25

..

108‌

111‌

991851118.UG.FTS.B,

29.49%,

2/23/25

..

285‌

294‌

991851951.UG.FTS.B,

29.49%,

2/23/25

..

1,579‌

1,596‌

991852042.UG.FTS.B,

29.49%,

2/23/25

..

260‌

265‌

Description

Principal

Amount

Value

UGCard

(continued)

991853154.UG.FTS.B,

29.49%,

2/23/25

..

$

193‌

$

198‌

991853508.UG.FTS.B,

29.49%,

2/23/25

..

335‌

336‌

991855270.UG.FTS.B,

29.49%,

2/23/25

..

368‌

377‌

991858389.UG.FTS.B,

29.49%,

2/23/25

..

109‌

112‌

991859061.UG.FTS.B,

29.49%,

2/23/25

..

14‌

14‌

991859523.UG.FTS.B,

29.49%,

2/23/25

..

71‌

73‌

991859751.UG.FTS.B,

29.49%,

2/23/25

..

267‌

275‌

991860330.UG.FTS.B,

29.49%,

2/23/25

..

304‌

314‌

991867890.UG.FTS.B,

29.49%,

2/23/25

..

37‌

37‌

991869365.UG.FTS.B,

29.49%,

2/23/25

..

558‌

562‌

991869643.UG.FTS.B,

29.49%,

2/23/25

..

292‌

293‌

991875704.UG.FTS.B,

29.49%,

2/23/25

..

359‌

363‌

991877149.UG.FTS.B,

29.49%,

2/23/25

..

2,875‌

2,974‌

991877739.UG.FTS.B,

29.49%,

2/23/25

..

301‌

311‌

991878007.UG.FTS.B,

29.49%,

2/23/25

..

49‌

51‌

991879861.UG.FTS.B,

29.49%,

2/23/25

..

153‌

159‌

991879938.UG.FTS.B,

29.49%,

2/23/25

..

45‌

47‌

991884025.UG.FTS.B,

29.49%,

2/23/25

..

477‌

493‌

991888889.UG.FTS.B,

29.49%,

2/23/25

..

823‌

851‌

991889020.UG.FTS.B,

29.49%,

2/23/25

..

1,503‌

1,513‌

991889880.UG.FTS.B,

29.49%,

2/23/25

..

198‌

205‌

991898313.UG.FTS.B,

29.49%,

2/23/25

..

108‌

111‌

991915018.UG.FTS.B,

29.49%,

2/23/25

..

174‌

178‌

991916300.UG.FTS.B,

29.49%,

2/23/25

..

619‌

623‌

991916358.UG.FTS.B,

29.49%,

2/23/25

..

116‌

120‌

991920038.UG.FTS.B,

29.49%,

2/23/25

..

161‌

167‌

991921996.UG.FTS.B,

29.49%,

2/23/25

..

181‌

187‌

991933958.UG.FTS.B,

29.49%,

2/23/25

..

82‌

85‌

991942743.UG.FTS.B,

29.49%,

2/23/25

..

339‌

341‌

991944768.UG.FTS.B,

29.49%,

2/23/25

..

67‌

67‌

991950190.UG.FTS.B,

29.49%,

2/23/25

..

712‌

730‌

991955703.UG.FTS.B,

29.49%,

2/23/25

..

1,987‌

2,034‌

991973632.UG.FTS.B,

29.49%,

2/23/25

..

490‌

506‌

991990365.UG.FTS.B,

29.49%,

2/23/25

..

187‌

192‌

991996086.UG.FTS.B,

29.49%,

2/23/25

..

920‌

952‌

992001915.UG.FTS.B,

29.49%,

2/23/25

..

278‌

285‌

992009378.UG.FTS.B,

29.49%,

2/23/25

..

239‌

244‌

992042688.UG.FTS.B,

29.49%,

2/23/25

..

66‌

68‌

992046179.UG.FTS.B,

29.49%,

2/23/25

..

198‌

202‌

992055313.UG.FTS.B,

29.49%,

2/23/25

..

251‌

257‌

992058730.UG.FTS.B,

29.49%,

2/23/25

..

93‌

96‌

992068077.UG.FTS.B,

29.49%,

2/23/25

..

127‌

130‌

992071864.UG.FTS.B,

29.49%,

2/23/25

..

64‌

66‌

992077860.UG.FTS.B,

29.49%,

2/23/25

..

82‌

84‌

992080050.UG.FTS.B,

29.49%,

2/23/25

..

172‌

174‌

992093460.UG.FTS.B,

29.49%,

2/23/25

..

24‌

24‌

992094037.UG.FTS.B,

29.49%,

2/23/25

..

18‌

19‌

992095286.UG.FTS.B,

29.49%,

2/23/25

..

1,352‌

1,363‌

992099678.UG.FTS.B,

29.49%,

2/23/25

..

244‌

250‌

992099973.UG.FTS.B,

29.49%,

2/23/25

..

24‌

24‌

992100429.UG.FTS.B,

29.49%,

2/23/25

..

437‌

448‌

992101807.UG.FTS.B,

29.49%,

2/23/25

..

1,366‌

1,397‌

992102471.UG.FTS.B,

29.49%,

2/23/25

..

976‌

1,001‌

992102941.UG.FTS.B,

29.49%,

2/23/25

..

3,513‌

3,603‌

992103000.UG.FTS.B,

29.49%,

2/23/25

..

293‌

300‌

992103001.UG.FTS.B,

29.49%,

2/23/25

..

460‌

468‌

992103021.UG.FTS.B,

29.49%,

2/23/25

..

976‌

1,001‌

992095631.UG.FTS.B,

15%,

2/24/25

.....

255‌

262‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

57

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

UGCard

(continued)

992098930.UG.FTS.B,

18.97%,

2/24/25

..

$

1,494‌

$

1,540‌

991855411.UG.FTS.B,

19.21%,

2/24/25

..

7‌

7‌

991875724.UG.FTS.B,

19.21%,

2/24/25

..

137‌

142‌

992041969.UG.FTS.B,

19.21%,

2/24/25

..

77‌

80‌

991921618.UG.FTS.B,

19.97%,

2/24/25

..

414‌

428‌

991857263.UG.FTS.B,

19.99%,

2/24/25

..

21‌

21‌

991858814.UG.FTS.B,

19.99%,

2/24/25

..

544‌

558‌

991860581.UG.FTS.B,

19.99%,

2/24/25

..

1,258‌

1,280‌

991868180.UG.FTS.B,

19.99%,

2/24/25

..

45‌

47‌

991880518.UG.FTS.B,

19.99%,

2/24/25

..

58‌

58‌

991918770.UG.FTS.B,

19.99%,

2/24/25

..

1,057‌

1,094‌

992022838.UG.FTS.B,

19.99%,

2/24/25

..

956‌

982‌

992103295.UG.FTS.B,

19.99%,

2/24/25

..

1,000‌

1,028‌

991917948.UG.FTS.B,

20.46%,

2/24/25

..

1,176‌

1,215‌

991976741.UG.FTS.B,

20.97%,

2/24/25

..

405‌

417‌

991859155.UG.FTS.B,

21.46%,

2/24/25

..

695‌

705‌

991861717.UG.FTS.B,

21.46%,

2/24/25

..

877‌

908‌

991870346.UG.FTS.B,

21.46%,

2/24/25

..

812‌

829‌

991971838.UG.FTS.B,

21.46%,

2/24/25

..

642‌

664‌

991952732.UG.FTS.B,

21.98%,

2/24/25

..

526‌

541‌

992094122.UG.FTS.B,

21.98%,

2/24/25

..

226‌

233‌

991898580.UG.FTS.B,

27.99%,

2/24/25

..

55‌

57‌

991857129.UG.FTS.B,

28.98%,

2/24/25

..

118‌

122‌

991858326.UG.FTS.B,

28.98%,

2/24/25

..

202‌

205‌

991858844.UG.FTS.B,

28.98%,

2/24/25

..

411‌

420‌

991859983.UG.FTS.B,

28.98%,

2/24/25

..

356‌

368‌

991860505.UG.FTS.B,

28.98%,

2/24/25

..

66‌

68‌

991861116.UG.FTS.B,

28.98%,

2/24/25

..

208‌

214‌

991881531.UG.FTS.B,

28.98%,

2/24/25

..

216‌

223‌

991887919.UG.FTS.B,

28.98%,

2/24/25

..

63‌

65‌

991892823.UG.FTS.B,

28.98%,

2/24/25

..

746‌

764‌

991941756.UG.FTS.B,

28.98%,

2/24/25

..

483‌

500‌

991950991.UG.FTS.B,

28.98%,

2/24/25

..

402‌

411‌

991953588.UG.FTS.B,

28.98%,

2/24/25

..

181‌

187‌

992001610.UG.FTS.B,

28.98%,

2/24/25

..

1,110‌

1,148‌

992010010.UG.FTS.B,

28.98%,

2/24/25

..

341‌

349‌

992070983.UG.FTS.B,

28.98%,

2/24/25

..

509‌

523‌

992095407.UG.FTS.B,

28.98%,

2/24/25

..

183‌

188‌

992095946.UG.FTS.B,

28.98%,

2/24/25

..

53‌

55‌

992096160.UG.FTS.B,

28.98%,

2/24/25

..

140‌

144‌

992100044.UG.FTS.B,

28.98%,

2/24/25

..

7‌

7‌

992100568.UG.FTS.B,

28.98%,

2/24/25

..

125‌

128‌

992101284.UG.FTS.B,

28.98%,

2/24/25

..

445‌

453‌

991855828.UG.FTS.B,

29.49%,

2/24/25

..

83‌

86‌

991856323.UG.FTS.B,

29.49%,

2/24/25

..

1,922‌

1,972‌

991857208.UG.FTS.B,

29.49%,

2/24/25

..

496‌

506‌

991857305.UG.FTS.B,

29.49%,

2/24/25

..

299‌

306‌

991857701.UG.FTS.B,

29.49%,

2/24/25

..

797‌

825‌

991864614.UG.FTS.B,

29.49%,

2/24/25

..

38‌

39‌

991864922.UG.FTS.B,

29.49%,

2/24/25

..

104‌

107‌

991865031.UG.FTS.B,

29.49%,

2/24/25

..

966‌

992‌

991889019.UG.FTS.B,

29.49%,

2/24/25

..

420‌

434‌

991940825.UG.FTS.B,

29.49%,

2/24/25

..

196‌

197‌

991962356.UG.FTS.B,

29.49%,

2/24/25

..

200‌

209‌

991982896.UG.FTS.B,

29.49%,

2/24/25

..

208‌

215‌

991990424.UG.FTS.B,

29.49%,

2/24/25

..

56‌

58‌

991996253.UG.FTS.B,

29.49%,

2/24/25

..

447‌

459‌

992001227.UG.FTS.B,

29.49%,

2/24/25

..

121‌

125‌

Description

Principal

Amount

Value

UGCard

(continued)

992004858.UG.FTS.B,

29.49%,

2/24/25

..

$

262‌

$

269‌

992008912.UG.FTS.B,

29.49%,

2/24/25

..

79‌

82‌

992008974.UG.FTS.B,

29.49%,

2/24/25

..

303‌

315‌

992017493.UG.FTS.B,

29.49%,

2/24/25

..

241‌

247‌

992033036.UG.FTS.B,

29.49%,

2/24/25

..

533‌

543‌

992041998.UG.FTS.B,

29.49%,

2/24/25

..

32‌

33‌

992051195.UG.FTS.B,

29.49%,

2/24/25

..

147‌

150‌

992062277.UG.FTS.B,

29.49%,

2/24/25

..

424‌

434‌

992064282.UG.FTS.B,

29.49%,

2/24/25

..

1,700‌

1,735‌

992076693.UG.FTS.B,

29.49%,

2/24/25

..

84‌

87‌

992078662.UG.FTS.B,

29.49%,

2/24/25

..

201‌

203‌

992082872.UG.FTS.B,

29.49%,

2/24/25

..

365‌

374‌

992084780.UG.FTS.B,

29.49%,

2/24/25

..

93‌

96‌

992088592.UG.FTS.B,

29.49%,

2/24/25

..

74‌

76‌

992095462.UG.FTS.B,

29.49%,

2/24/25

..

115‌

118‌

992095776.UG.FTS.B,

29.49%,

2/24/25

..

58‌

59‌

992096386.UG.FTS.B,

29.49%,

2/24/25

..

61‌

63‌

992099175.UG.FTS.B,

29.49%,

2/24/25

..

244‌

250‌

992101624.UG.FTS.B,

29.49%,

2/24/25

..

97‌

100‌

992102656.UG.FTS.B,

29.49%,

2/24/25

..

112‌

113‌

992103466.UG.FTS.B,

29.49%,

2/24/25

..

454‌

454‌

991961062.UG.FTS.B,

29.99%,

2/24/25

..

713‌

737‌

991986810.UG.FTS.B,

14%,

2/25/25

.....

202‌

209‌

991875428.UG.FTS.B,

18.97%,

2/25/25

..

253‌

260‌

991873289.UG.FTS.B,

19.21%,

2/25/25

..

2,068‌

2,142‌

992102508.UG.FTS.B,

19.21%,

2/25/25

..

779‌

804‌

991934046.UG.FTS.B,

19.8%,

2/25/25

...

2,174‌

2,242‌

991943144.UG.FTS.B,

19.8%,

2/25/25

...

168‌

173‌

992085534.UG.FTS.B,

19.8%,

2/25/25

...

360‌

372‌

992095472.UG.FTS.B,

19.8%,

2/25/25

...

1,347‌

1,389‌

992101988.UG.FTS.B,

19.8%,

2/25/25

...

1,952‌

2,012‌

991888311.UG.FTS.B,

20.46%,

2/25/25

..

1,135‌

1,167‌

992062353.UG.FTS.B,

20.46%,

2/25/25

..

120‌

125‌

992048065.UG.FTS.B,

22.97%,

2/25/25

..

1,663‌

1,711‌

991990267.UG.FTS.B,

27.99%,

2/25/25

..

98‌

101‌

991868043.UG.FTS.B,

28.98%,

2/25/25

..

77‌

80‌

991868821.UG.FTS.B,

28.98%,

2/25/25

..

1,346‌

1,392‌

991879489.UG.FTS.B,

28.98%,

2/25/25

..

50‌

52‌

991885747.UG.FTS.B,

28.98%,

2/25/25

..

685‌

709‌

991896497.UG.FTS.B,

28.98%,

2/25/25

..

320‌

331‌

991900712.UG.FTS.B,

28.98%,

2/25/25

..

475‌

487‌

991910181.UG.FTS.B,

28.98%,

2/25/25

..

5,028‌

5,205‌

991918949.UG.FTS.B,

28.98%,

2/25/25

..

614‌

636‌

992022832.UG.FTS.B,

28.98%,

2/25/25

..

80‌

81‌

992094199.UG.FTS.B,

28.98%,

2/25/25

..

14‌

15‌

992094919.UG.FTS.B,

28.98%,

2/25/25

..

5‌

5‌

991874651.UG.FTS.B,

29.49%,

2/25/25

..

406‌

412‌

991884399.UG.FTS.B,

29.49%,

2/25/25

..

292‌

301‌

991887971.UG.FTS.B,

29.49%,

2/25/25

..

294‌

304‌

991894823.UG.FTS.B,

29.49%,

2/25/25

..

128‌

132‌

991911373.UG.FTS.B,

29.49%,

2/25/25

..

988‌

1,007‌

991923835.UG.FTS.B,

29.49%,

2/25/25

..

2,109‌

2,178‌

991930137.UG.FTS.B,

29.49%,

2/25/25

..

282‌

289‌

991935911.UG.FTS.B,

29.49%,

2/25/25

..

359‌

370‌

991950720.UG.FTS.B,

29.49%,

2/25/25

..

27‌

28‌

991972557.UG.FTS.B,

29.49%,

2/25/25

..

290‌

299‌

992007774.UG.FTS.B,

29.49%,

2/25/25

..

211‌

216‌

992018382.UG.FTS.B,

29.49%,

2/25/25

..

228‌

236‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

58

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

UGCard

(continued)

992086866.UG.FTS.B,

29.49%,

2/25/25

..

$

198‌

$

203‌

992096552.UG.FTS.B,

29.49%,

2/25/25

..

62‌

64‌

992099082.UG.FTS.B,

29.49%,

2/25/25

..

1,433‌

1,470‌

992100841.UG.FTS.B,

29.49%,

2/25/25

..

44‌

46‌

992101569.UG.FTS.B,

29.49%,

2/25/25

..

489‌

501‌

992102475.UG.FTS.B,

29.49%,

2/25/25

..

2,443‌

2,508‌

992103027.UG.FTS.B,

29.49%,

2/25/25

..

635‌

638‌

992103278.UG.FTS.B,

29.49%,

2/25/25

..

146‌

150‌

992150531.UG.FTS.B,

17.99%,

3/02/25

..

138‌

143‌

991896054.UG.FTS.B,

15.97%,

3/03/25

..

1,095‌

1,138‌

991891348.UG.FTS.B,

17.99%,

3/03/25

..

523‌

543‌

991973953.UG.FTS.B,

29.49%,

3/03/25

..

10‌

3‌

991899143.UG.FTS.B,

15.97%,

3/04/25

..

371‌

384‌

991953301.UG.FTS.B,

16.99%,

3/04/25

..

921‌

953‌

992043043.UG.FTS.B,

16.99%,

3/04/25

..

231‌

239‌

991901307.UG.FTS.B,

17.97%,

3/04/25

..

1,065‌

1,101‌

991930597.UG.FTS.B,

17.99%,

3/04/25

..

461‌

476‌

991940362.UG.FTS.B,

17.99%,

3/04/25

..

609‌

619‌

991943782.UG.FTS.B,

17.99%,

3/04/25

..

2,621‌

2,709‌

991970524.UG.FTS.B,

17.99%,

3/04/25

..

368‌

379‌

991976394.UG.FTS.B,

17.99%,

3/04/25

..

6,841‌

7,069‌

992003521.UG.FTS.B,

17.99%,

3/04/25

..

500‌

517‌

991960819.UG.FTS.B,

14%,

3/05/25

.....

59‌

61‌

991971752.UG.FTS.B,

14.98%,

3/05/25

..

108‌

112‌

992009284.UG.FTS.B,

14.98%,

3/05/25

..

312‌

323‌

991918212.UG.FTS.B,

15.97%,

3/05/25

..

457‌

473‌

991940781.UG.FTS.B,

15.97%,

3/05/25

..

10‌

11‌

991972238.UG.FTS.B,

15.97%,

3/05/25

..

325‌

336‌

991911402.UG.FTS.B,

16.99%,

3/05/25

..

570‌

589‌

991938779.UG.FTS.B,

16.99%,

3/05/25

..

176‌

182‌

992043275.UG.FTS.B,

16.99%,

3/05/25

..

27‌

28‌

992121849.UG.FTS.B,

16.99%,

3/05/25

..

1,600‌

1,656‌

991907676.UG.FTS.B,

17.97%,

3/05/25

..

325‌

336‌

991913343.UG.FTS.B,

17.97%,

3/05/25

..

2,737‌

2,831‌

991933144.UG.FTS.B,

17.97%,

3/05/25

..

245‌

254‌

991945871.UG.FTS.B,

17.99%,

3/05/25

..

534‌

553‌

992030620.UG.FTS.B,

17.99%,

3/05/25

..

187‌

194‌

992034517.UG.FTS.B,

17.99%,

3/05/25

..

3,486‌

3,602‌

992048059.UG.FTS.B,

17.99%,

3/05/25

..

4,500‌

4,656‌

992082342.UG.FTS.B,

17.99%,

3/05/25

..

217‌

225‌

992092774.UG.FTS.B,

17.99%,

3/05/25

..

680‌

704‌

992122276.UG.FTS.B,

17.99%,

3/05/25

..

350‌

213‌

992138339.UG.FTS.B,

17.99%,

3/05/25

..

18‌

18‌

991933615.UG.FTS.B,

14%,

3/06/25

.....

456‌

472‌

991941367.UG.FTS.B,

14%,

3/06/25

.....

10‌

10‌

992176129.UG.FTS.B,

14.97%,

3/06/25

..

667‌

690‌

991956076.UG.FTS.B,

14.98%,

3/06/25

..

37‌

38‌

992155655.UG.FTS.B,

14.98%,

3/06/25

..

5,000‌

5,139‌

991934175.UG.FTS.B,

15%,

3/06/25

.....

503‌

520‌

991919420.UG.FTS.B,

15.97%,

3/06/25

..

1,779‌

1,819‌

991922719.UG.FTS.B,

15.97%,

3/06/25

..

236‌

244‌

992065500.UG.FTS.B,

15.97%,

3/06/25

..

433‌

447‌

992070493.UG.FTS.B,

15.97%,

3/06/25

..

27‌

28‌

992125810.UG.FTS.B,

15.99%,

3/06/25

..

20‌

21‌

991965195.UG.FTS.B,

16.99%,

3/06/25

..

260‌

269‌

991976215.UG.FTS.B,

16.99%,

3/06/25

..

800‌

828‌

991992407.UG.FTS.B,

16.99%,

3/06/25

..

390‌

404‌

992000706.UG.FTS.B,

16.99%,

3/06/25

..

150‌

155‌

Description

Principal

Amount

Value

UGCard

(continued)

992018233.UG.FTS.B,

16.99%,

3/06/25

..

$

1,209‌

$

1,251‌

992156997.UG.FTS.B,

16.99%,

3/06/25

..

6,500‌

6,631‌

991924063.UG.FTS.B,

17.97%,

3/06/25

..

124‌

79‌

991932344.UG.FTS.B,

17.97%,

3/06/25

..

129‌

133‌

991964363.UG.FTS.B,

17.97%,

3/06/25

..

200‌

207‌

991990537.UG.FTS.B,

17.97%,

3/06/25

..

941‌

972‌

992003351.UG.FTS.B,

17.97%,

3/06/25

..

982‌

1,015‌

992194945.UG.FTS.B,

17.97%,

3/06/25

..

214‌

220‌

992195334.UG.FTS.B,

17.97%,

3/06/25

..

16‌

16‌

991926288.UG.FTS.B,

17.99%,

3/06/25

..

1,098‌

1,136‌

991929089.UG.FTS.B,

17.99%,

3/06/25

..

42‌

43‌

991930974.UG.FTS.B,

17.99%,

3/06/25

..

1,506‌

1,557‌

991940748.UG.FTS.B,

17.99%,

3/06/25

..

12‌

13‌

991969075.UG.FTS.B,

17.99%,

3/06/25

..

514‌

532‌

992007661.UG.FTS.B,

17.99%,

3/06/25

..

990‌

1,023‌

992075216.UG.FTS.B,

17.99%,

3/06/25

..

653‌

676‌

992104600.UG.FTS.B,

17.99%,

3/06/25

..

1,051‌

1,086‌

992157228.UG.FTS.B,

17.99%,

3/06/25

..

10,000‌

10,274‌

992187270.UG.FTS.B,

17.99%,

3/06/25

..

99‌

102‌

991945378.UG.FTS.B,

15%,

3/07/25

.....

521‌

539‌

992092422.UG.FTS.B,

15.97%,

3/07/25

..

900‌

932‌

992112210.UG.FTS.B,

15.97%,

3/07/25

..

19,000‌

19,666‌

991933089.UG.FTS.B,

16.99%,

3/07/25

..

104‌

108‌

992148536.UG.FTS.B,

16.99%,

3/07/25

..

234‌

240‌

992203496.UG.FTS.B,

16.99%,

3/07/25

..

153‌

158‌

992204036.UG.FTS.B,

16.99%,

3/07/25

..

628‌

646‌

991973130.UG.FTS.B,

17.97%,

3/07/25

..

7,500‌

7,682‌

991929724.UG.FTS.B,

17.99%,

3/07/25

..

346‌

359‌

991932644.UG.FTS.B,

17.99%,

3/07/25

..

597‌

617‌

992024120.UG.FTS.B,

17.99%,

3/07/25

..

209‌

217‌

992086926.UG.FTS.B,

17.99%,

3/07/25

..

77‌

79‌

991956357.UG.FTS.B,

15.97%,

3/08/25

..

1,066‌

1,105‌

991999086.UG.FTS.B,

15.97%,

3/08/25

..

115‌

119‌

992069223.UG.FTS.B,

15.97%,

3/08/25

..

987‌

1,020‌

992132809.UG.FTS.B,

15.97%,

3/08/25

..

301‌

308‌

991943900.UG.FTS.B,

16.99%,

3/08/25

..

840‌

869‌

991945523.UG.FTS.B,

16.99%,

3/08/25

..

764‌

791‌

992067831.UG.FTS.B,

16.99%,

3/08/25

..

153‌

158‌

992167995.UG.FTS.B,

16.99%,

3/08/25

..

1,220‌

1,261‌

992204207.UG.FTS.B,

16.99%,

3/08/25

..

179‌

185‌

991942814.UG.FTS.B,

17.99%,

3/08/25

..

75‌

77‌

991944358.UG.FTS.B,

17.99%,

3/08/25

..

745‌

771‌

991949855.UG.FTS.B,

17.99%,

3/08/25

..

852‌

882‌

991956318.UG.FTS.B,

17.99%,

3/08/25

..

659‌

679‌

991960953.UG.FTS.B,

17.99%,

3/08/25

..

33‌

34‌

991961889.UG.FTS.B,

17.99%,

3/08/25

..

45‌

15‌

992023008.UG.FTS.B,

17.99%,

3/08/25

..

88‌

91‌

992040532.UG.FTS.B,

17.99%,

3/08/25

..

3,388‌

3,488‌

992054524.UG.FTS.B,

17.99%,

3/08/25

..

974‌

1,008‌

992056976.UG.FTS.B,

17.99%,

3/08/25

..

450‌

466‌

992104010.UG.FTS.B,

17.99%,

3/08/25

..

62‌

17‌

992153456.UG.FTS.B,

17.99%,

3/08/25

..

36‌

37‌

992093279.UG.FTS.B,

14.97%,

3/09/25

..

1,300‌

1,346‌

992016287.UG.FTS.B,

14.98%,

3/09/25

..

515‌

91‌

991962073.UG.FTS.B,

15.97%,

3/09/25

..

708‌

733‌

992045994.UG.FTS.B,

15.97%,

3/09/25

..

352‌

365‌

992093111.UG.FTS.B,

15.97%,

3/09/25

..

253‌

262‌

991959640.UG.FTS.B,

16.99%,

3/09/25

..

423‌

438‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

59

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

UGCard

(continued)

991951347.UG.FTS.B,

17.99%,

3/09/25

..

$

5,982‌

$

6,193‌

991958431.UG.FTS.B,

17.99%,

3/09/25

..

320‌

331‌

991985159.UG.FTS.B,

17.99%,

3/09/25

..

1,859‌

1,922‌

991997373.UG.FTS.B,

17.99%,

3/09/25

..

520‌

539‌

992088368.UG.FTS.B,

17.99%,

3/09/25

..

250‌

258‌

992158284.UG.FTS.B,

17.99%,

3/09/25

..

700‌

725‌

992185435.UG.FTS.B,

17.99%,

3/09/25

..

2,350‌

2,416‌

991951113.UG.FTS.B,

19.99%,

3/09/25

..

1,999‌

2,063‌

991960077.UG.FTS.B,

19.99%,

3/09/25

..

388‌

397‌

991973483.UG.FTS.B,

19.99%,

3/09/25

..

2‌

2‌

991987137.UG.FTS.B,

19.99%,

3/09/25

..

74‌

77‌

992214049.UG.FTS.B,

19.99%,

3/09/25

..

155‌

159‌

991969257.UG.FTS.B,

25.94%,

3/09/25

..

304‌

314‌

992061176.UG.FTS.B,

27.95%,

3/09/25

..

193‌

199‌

991950163.UG.FTS.B,

27.99%,

3/09/25

..

1,027‌

1,062‌

992005128.UG.FTS.B,

27.99%,

3/09/25

..

102‌

105‌

992221115.UG.FTS.B,

27.99%,

3/09/25

..

207‌

212‌

991946748.UG.FTS.B,

28.98%,

3/09/25

..

900‌

920‌

991946846.UG.FTS.B,

28.98%,

3/09/25

..

719‌

743‌

991946853.UG.FTS.B,

28.98%,

3/09/25

..

1,765‌

1,824‌

991947449.UG.FTS.B,

28.98%,

3/09/25

..

1,168‌

1,202‌

991947597.UG.FTS.B,

28.98%,

3/09/25

..

388‌

402‌

991948023.UG.FTS.B,

28.98%,

3/09/25

..

1,839‌

1,901‌

991948442.UG.FTS.B,

28.98%,

3/09/25

..

648‌

670‌

991950108.UG.FTS.B,

28.98%,

3/09/25

..

1,984‌

2,045‌

991951985.UG.FTS.B,

28.98%,

3/09/25

..

1,116‌

1,154‌

991952258.UG.FTS.B,

28.98%,

3/09/25

..

149‌

154‌

991952942.UG.FTS.B,

28.98%,

3/09/25

..

273‌

279‌

991953091.UG.FTS.B,

28.98%,

3/09/25

..

3,070‌

3,174‌

991953620.UG.FTS.B,

28.98%,

3/09/25

..

1,623‌

1,677‌

991953646.UG.FTS.B,

28.98%,

3/09/25

..

308‌

318‌

991953749.UG.FTS.B,

28.98%,

3/09/25

..

357‌

369‌

991956904.UG.FTS.B,

28.98%,

3/09/25

..

99‌

102‌

991958281.UG.FTS.B,

28.98%,

3/09/25

..

1,565‌

1,618‌

991958857.UG.FTS.B,

28.98%,

3/09/25

..

65‌

67‌

991961425.UG.FTS.B,

28.98%,

3/09/25

..

601‌

621‌

991968804.UG.FTS.B,

28.98%,

3/09/25

..

1,514‌

1,565‌

991971783.UG.FTS.B,

28.98%,

3/09/25

..

29‌

30‌

991973271.UG.FTS.B,

28.98%,

3/09/25

..

26‌

27‌

991978892.UG.FTS.B,

28.98%,

3/09/25

..

84‌

87‌

991982170.UG.FTS.B,

28.98%,

3/09/25

..

345‌

352‌

992009323.UG.FTS.B,

28.98%,

3/09/25

..

707‌

730‌

992010855.UG.FTS.B,

28.98%,

3/09/25

..

4,638‌

4,741‌

992017836.UG.FTS.B,

28.98%,

3/09/25

..

112‌

115‌

992061523.UG.FTS.B,

28.98%,

3/09/25

..

279‌

285‌

992062215.UG.FTS.B,

28.98%,

3/09/25

..

351‌

362‌

992085211.UG.FTS.B,

28.98%,

3/09/25

..

717‌

740‌

992146851.UG.FTS.B,

28.98%,

3/09/25

..

188‌

192‌

992179588.UG.FTS.B,

28.98%,

3/09/25

..

439‌

449‌

992182020.UG.FTS.B,

28.98%,

3/09/25

..

1,805‌

1,845‌

992191939.UG.FTS.B,

28.98%,

3/09/25

..

232‌

237‌

992199317.UG.FTS.B,

28.98%,

3/09/25

..

141‌

144‌

992211701.UG.FTS.B,

28.98%,

3/09/25

..

254‌

260‌

992221426.UG.FTS.B,

28.98%,

3/09/25

..

128‌

131‌

992222481.UG.FTS.B,

28.98%,

3/09/25

..

23‌

24‌

992006803.UG.FTS.B,

29.45%,

3/09/25

..

83‌

86‌

992020886.UG.FTS.B,

29.45%,

3/09/25

..

494‌

511‌

992137569.UG.FTS.B,

29.45%,

3/09/25

..

328‌

339‌

Description

Principal

Amount

Value

UGCard

(continued)

991955582.UG.FTS.B,

29.46%,

3/09/25

..

$

143‌

$

146‌

991991457.UG.FTS.B,

29.46%,

3/09/25

..

59‌

61‌

992001280.UG.FTS.B,

29.46%,

3/09/25

..

531‌

542‌

992006435.UG.FTS.B,

29.46%,

3/09/25

..

806‌

823‌

992016260.UG.FTS.B,

29.46%,

3/09/25

..

449‌

464‌

992221812.UG.FTS.B,

29.46%,

3/09/25

..

220‌

225‌

991949834.UG.FTS.B,

29.47%,

3/09/25

..

1,369‌

1,389‌

991953775.UG.FTS.B,

29.47%,

3/09/25

..

439‌

453‌

992058926.UG.FTS.B,

29.47%,

3/09/25

..

1,613‌

1,667‌

992138560.UG.FTS.B,

29.47%,

3/09/25

..

183‌

187‌

992017351.UG.FTS.B,

29.48%,

3/09/25

..

246‌

252‌

992197517.UG.FTS.B,

29.48%,

3/09/25

..

284‌

288‌

992226909.UG.FTS.B,

29.48%,

3/09/25

..

134‌

136‌

991947794.UG.FTS.B,

29.49%,

3/09/25

..

109‌

111‌

991948233.UG.FTS.B,

29.49%,

3/09/25

..

126‌

130‌

991949833.UG.FTS.B,

29.49%,

3/09/25

..

147‌

151‌

991949846.UG.FTS.B,

29.49%,

3/09/25

..

533‌

551‌

991951547.UG.FTS.B,

29.49%,

3/09/25

..

258‌

264‌

991952166.UG.FTS.B,

29.49%,

3/09/25

..

740‌

765‌

991952197.UG.FTS.B,

29.49%,

3/09/25

..

1,075‌

1,106‌

991952279.UG.FTS.B,

29.49%,

3/09/25

..

316‌

326‌

991953005.UG.FTS.B,

29.49%,

3/09/25

..

373‌

385‌

991954696.UG.FTS.B,

29.49%,

3/09/25

..

207‌

214‌

991955791.UG.FTS.B,

29.49%,

3/09/25

..

221‌

228‌

991956528.UG.FTS.B,

29.49%,

3/09/25

..

683‌

704‌

991959226.UG.FTS.B,

29.49%,

3/09/25

..

415‌

428‌

991959284.UG.FTS.B,

29.49%,

3/09/25

..

297‌

307‌

991959386.UG.FTS.B,

29.49%,

3/09/25

..

639‌

660‌

991960052.UG.FTS.B,

29.49%,

3/09/25

..

454‌

469‌

991971585.UG.FTS.B,

29.49%,

3/09/25

..

448‌

459‌

991971846.UG.FTS.B,

29.49%,

3/09/25

..

378‌

389‌

991972236.UG.FTS.B,

29.49%,

3/09/25

..

327‌

329‌

991980308.UG.FTS.B,

29.49%,

3/09/25

..

264‌

273‌

991980801.UG.FTS.B,

29.49%,

3/09/25

..

51‌

52‌

991983473.UG.FTS.B,

29.49%,

3/09/25

..

1,061‌

1,083‌

991990044.UG.FTS.B,

29.49%,

3/09/25

..

1,337‌

1,390‌

991998692.UG.FTS.B,

29.49%,

3/09/25

..

2,017‌

2,059‌

991999713.UG.FTS.B,

29.49%,

3/09/25

..

175‌

178‌

992001551.UG.FTS.B,

29.49%,

3/09/25

..

114‌

115‌

992012762.UG.FTS.B,

29.49%,

3/09/25

..

1,640‌

1,672‌

992014234.UG.FTS.B,

29.49%,

3/09/25

..

1,504‌

1,550‌

992018564.UG.FTS.B,

29.49%,

3/09/25

..

456‌

468‌

992105061.UG.FTS.B,

29.49%,

3/09/25

..

726‌

737‌

992125932.UG.FTS.B,

29.49%,

3/09/25

..

1,208‌

1,233‌

992138266.UG.FTS.B,

29.49%,

3/09/25

..

3,375‌

3,442‌

992140273.UG.FTS.B,

29.49%,

3/09/25

..

1,334‌

1,362‌

992203262.UG.FTS.B,

29.49%,

3/09/25

..

89‌

92‌

992206574.UG.FTS.B,

29.49%,

3/09/25

..

88‌

91‌

992211648.UG.FTS.B,

29.49%,

3/09/25

..

188‌

191‌

992212611.UG.FTS.B,

29.49%,

3/09/25

..

626‌

638‌

992222889.UG.FTS.B,

29.49%,

3/09/25

..

69‌

72‌

992225180.UG.FTS.B,

29.49%,

3/09/25

..

102‌

106‌

992225714.UG.FTS.B,

29.49%,

3/09/25

..

14‌

15‌

991995485.UG.FTS.B,

15.97%,

3/10/25

..

700‌

726‌

992136087.UG.FTS.B,

15.97%,

3/10/25

..

2,407‌

2,495‌

991954721.UG.FTS.B,

16.99%,

3/10/25

..

622‌

644‌

991956996.UG.FTS.B,

16.99%,

3/10/25

..

352‌

364‌

991986086.UG.FTS.B,

16.99%,

3/10/25

..

2,903‌

3,009‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

60

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

UGCard

(continued)

992007966.UG.FTS.B,

17.99%,

3/10/25

..

$

52‌

$

54‌

991997245.UG.FTS.B,

19.99%,

3/10/25

..

251‌

260‌

992021558.UG.FTS.B,

19.99%,

3/10/25

..

11‌

11‌

992032415.UG.FTS.B,

19.99%,

3/10/25

..

717‌

742‌

992111548.UG.FTS.B,

19.99%,

3/10/25

..

134‌

138‌

992228798.UG.FTS.B,

19.99%,

3/10/25

..

350‌

358‌

991954714.UG.FTS.B,

28.98%,

3/10/25

..

271‌

280‌

991954890.UG.FTS.B,

28.98%,

3/10/25

..

648‌

659‌

991955016.UG.FTS.B,

28.98%,

3/10/25

..

216‌

221‌

991957178.UG.FTS.B,

28.98%,

3/10/25

..

553‌

572‌

991957440.UG.FTS.B,

28.98%,

3/10/25

..

1,232‌

1,260‌

991958934.UG.FTS.B,

28.98%,

3/10/25

..

261‌

270‌

991961148.UG.FTS.B,

28.98%,

3/10/25

..

574‌

594‌

991962085.UG.FTS.B,

28.98%,

3/10/25

..

359‌

371‌

991968026.UG.FTS.B,

28.98%,

3/10/25

..

1,524‌

1,576‌

991973413.UG.FTS.B,

28.98%,

3/10/25

..

74‌

76‌

991974510.UG.FTS.B,

28.98%,

3/10/25

..

612‌

631‌

992011442.UG.FTS.B,

28.98%,

3/10/25

..

795‌

816‌

992027655.UG.FTS.B,

28.98%,

3/10/25

..

792‌

809‌

992033842.UG.FTS.B,

28.98%,

3/10/25

..

303‌

314‌

992060387.UG.FTS.B,

28.98%,

3/10/25

..

324‌

331‌

992075321.UG.FTS.B,

28.98%,

3/10/25

..

547‌

559‌

992084194.UG.FTS.B,

28.98%,

3/10/25

..

997‌

1,031‌

992143690.UG.FTS.B,

28.98%,

3/10/25

..

144‌

147‌

992184165.UG.FTS.B,

28.98%,

3/10/25

..

3,313‌

3,386‌

992198464.UG.FTS.B,

28.98%,

3/10/25

..

192‌

196‌

992216271.UG.FTS.B,

28.98%,

3/10/25

..

239‌

244‌

992226588.UG.FTS.B,

28.98%,

3/10/25

..

74‌

76‌

992229139.UG.FTS.B,

28.98%,

3/10/25

..

4,209‌

4,310‌

992234259.UG.FTS.B,

28.98%,

3/10/25

..

75‌

78‌

992234778.UG.FTS.B,

28.98%,

3/10/25

..

200‌

205‌

992237153.UG.FTS.B,

28.98%,

3/10/25

..

11‌

11‌

992061277.UG.FTS.B,

29.46%,

3/10/25

..

745‌

770‌

992227699.UG.FTS.B,

29.46%,

3/10/25

..

1,918‌

1,974‌

991959464.UG.FTS.B,

29.47%,

3/10/25

..

689‌

709‌

991991290.UG.FTS.B,

29.47%,

3/10/25

..

164‌

169‌

992061694.UG.FTS.B,

29.47%,

3/10/25

..

238‌

246‌

992139536.UG.FTS.B,

29.47%,

3/10/25

..

1,780‌

1,840‌

992205977.UG.FTS.B,

29.47%,

3/10/25

..

79‌

82‌

991954603.UG.FTS.B,

29.49%,

3/10/25

..

170‌

176‌

991954960.UG.FTS.B,

29.49%,

3/10/25

..

377‌

389‌

991957562.UG.FTS.B,

29.49%,

3/10/25

..

198‌

205‌

991958699.UG.FTS.B,

29.49%,

3/10/25

..

103‌

106‌

991960347.UG.FTS.B,

29.49%,

3/10/25

..

649‌

663‌

991960370.UG.FTS.B,

29.49%,

3/10/25

..

43‌

44‌

991962395.UG.FTS.B,

29.49%,

3/10/25

..

120‌

124‌

991968583.UG.FTS.B,

29.49%,

3/10/25

..

87‌

90‌

991970832.UG.FTS.B,

29.49%,

3/10/25

..

522‌

540‌

991972068.UG.FTS.B,

29.49%,

3/10/25

..

397‌

407‌

991972794.UG.FTS.B,

29.49%,

3/10/25

..

2,306‌

2,353‌

991985693.UG.FTS.B,

29.49%,

3/10/25

..

2,500‌

2,554‌

991986855.UG.FTS.B,

29.49%,

3/10/25

..

148‌

153‌

991986924.UG.FTS.B,

29.49%,

3/10/25

..

192‌

199‌

991987090.UG.FTS.B,

29.49%,

3/10/25

..

438‌

453‌

991991729.UG.FTS.B,

29.49%,

3/10/25

..

798‌

825‌

991992420.UG.FTS.B,

29.49%,

3/10/25

..

877‌

900‌

991992823.UG.FTS.B,

29.49%,

3/10/25

..

301‌

309‌

992000940.UG.FTS.B,

29.49%,

3/10/25

..

492‌

507‌

Description

Principal

Amount

Value

UGCard

(continued)

992001368.UG.FTS.B,

29.49%,

3/10/25

..

$

103‌

$

106‌

992019137.UG.FTS.B,

29.49%,

3/10/25

..

113‌

117‌

992021611.UG.FTS.B,

29.49%,

3/10/25

..

975‌

1,002‌

992024541.UG.FTS.B,

29.49%,

3/10/25

..

475‌

488‌

992030282.UG.FTS.B,

29.49%,

3/10/25

..

303‌

308‌

992041733.UG.FTS.B,

29.49%,

3/10/25

..

105‌

108‌

992042242.UG.FTS.B,

29.49%,

3/10/25

..

127‌

132‌

992056222.UG.FTS.B,

29.49%,

3/10/25

..

351‌

358‌

992081022.UG.FTS.B,

29.49%,

3/10/25

..

194‌

200‌

992084912.UG.FTS.B,

29.49%,

3/10/25

..

1,344‌

1,372‌

992089149.UG.FTS.B,

29.49%,

3/10/25

..

42‌

44‌

992100091.UG.FTS.B,

29.49%,

3/10/25

..

79‌

81‌

992178788.UG.FTS.B,

29.49%,

3/10/25

..

61‌

63‌

992189126.UG.FTS.B,

29.49%,

3/10/25

..

305‌

311‌

992209027.UG.FTS.B,

29.49%,

3/10/25

..

125‌

128‌

992220703.UG.FTS.B,

29.49%,

3/10/25

..

20‌

20‌

992222709.UG.FTS.B,

29.49%,

3/10/25

..

156‌

159‌

992225780.UG.FTS.B,

29.49%,

3/10/25

..

139‌

141‌

992226157.UG.FTS.B,

29.49%,

3/10/25

..

680‌

693‌

992226851.UG.FTS.B,

29.49%,

3/10/25

..

389‌

397‌

992228254.UG.FTS.B,

29.49%,

3/10/25

..

700‌

714‌

992229344.UG.FTS.B,

29.49%,

3/10/25

..

345‌

354‌

992231132.UG.FTS.B,

29.49%,

3/10/25

..

195‌

199‌

992232739.UG.FTS.B,

29.49%,

3/10/25

..

23‌

24‌

991963098.UG.FTS.B,

19.99%,

3/11/25

..

200‌

207‌

991968447.UG.FTS.B,

19.99%,

3/11/25

..

1,918‌

1,972‌

991968635.UG.FTS.B,

19.99%,

3/11/25

..

2,231‌

2,307‌

991969049.UG.FTS.B,

19.99%,

3/11/25

..

8‌

4‌

991970440.UG.FTS.B,

19.99%,

3/11/25

..

675‌

695‌

991970942.UG.FTS.B,

19.99%,

3/11/25

..

76‌

78‌

991971907.UG.FTS.B,

19.99%,

3/11/25

..

9‌

9‌

991974569.UG.FTS.B,

19.99%,

3/11/25

..

174‌

176‌

991978184.UG.FTS.B,

19.99%,

3/11/25

..

228‌

236‌

991978739.UG.FTS.B,

19.99%,

3/11/25

..

372‌

385‌

991980329.UG.FTS.B,

19.99%,

3/11/25

..

21‌

21‌

991980454.UG.FTS.B,

19.99%,

3/11/25

..

72‌

75‌

991980835.UG.FTS.B,

19.99%,

3/11/25

..

24‌

25‌

991987397.UG.FTS.B,

19.99%,

3/11/25

..

36‌

37‌

991989654.UG.FTS.B,

19.99%,

3/11/25

..

86‌

89‌

991991971.UG.FTS.B,

19.99%,

3/11/25

..

157‌

162‌

991994914.UG.FTS.B,

19.99%,

3/11/25

..

1,200‌

1,241‌

991999630.UG.FTS.B,

19.99%,

3/11/25

..

38‌

40‌

992004940.UG.FTS.B,

19.99%,

3/11/25

..

289‌

299‌

992007097.UG.FTS.B,

19.99%,

3/11/25

..

261‌

270‌

992008658.UG.FTS.B,

19.99%,

3/11/25

..

237‌

245‌

992010699.UG.FTS.B,

19.99%,

3/11/25

..

1,669‌

1,726‌

992011840.UG.FTS.B,

19.99%,

3/11/25

..

171‌

177‌

992018218.UG.FTS.B,

19.99%,

3/11/25

..

292‌

301‌

992025841.UG.FTS.B,

19.99%,

3/11/25

..

102‌

105‌

992026254.UG.FTS.B,

19.99%,

3/11/25

..

1,305‌

1,334‌

992028614.UG.FTS.B,

19.99%,

3/11/25

..

286‌

296‌

992029209.UG.FTS.B,

19.99%,

3/11/25

..

158‌

163‌

992029328.UG.FTS.B,

19.99%,

3/11/25

..

158‌

163‌

992029366.UG.FTS.B,

19.99%,

3/11/25

..

12‌

12‌

992030511.UG.FTS.B,

19.99%,

3/11/25

..

100‌

104‌

992032062.UG.FTS.B,

19.99%,

3/11/25

..

322‌

332‌

992034460.UG.FTS.B,

19.99%,

3/11/25

..

300‌

310‌

992043129.UG.FTS.B,

19.99%,

3/11/25

..

287‌

296‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

61

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

UGCard

(continued)

992048328.UG.FTS.B,

19.99%,

3/11/25

..

$

1,300‌

$

1,345‌

992049367.UG.FTS.B,

19.99%,

3/11/25

..

257‌

266‌

992050397.UG.FTS.B,

19.99%,

3/11/25

..

1,162‌

1,176‌

992051178.UG.FTS.B,

19.99%,

3/11/25

..

13‌

14‌

992054364.UG.FTS.B,

19.99%,

3/11/25

..

944‌

976‌

992060770.UG.FTS.B,

19.99%,

3/11/25

..

125‌

129‌

992067904.UG.FTS.B,

19.99%,

3/11/25

..

38‌

39‌

992070205.UG.FTS.B,

19.99%,

3/11/25

..

64‌

67‌

992072453.UG.FTS.B,

19.99%,

3/11/25

..

192‌

196‌

992083408.UG.FTS.B,

19.99%,

3/11/25

..

2,760‌

2,855‌

992088914.UG.FTS.B,

19.99%,

3/11/25

..

159‌

164‌

992098142.UG.FTS.B,

19.99%,

3/11/25

..

556‌

570‌

992105329.UG.FTS.B,

19.99%,

3/11/25

..

70‌

72‌

992119841.UG.FTS.B,

19.99%,

3/11/25

..

145‌

150‌

992120582.UG.FTS.B,

19.99%,

3/11/25

..

87‌

89‌

992131942.UG.FTS.B,

19.99%,

3/11/25

..

1,000‌

1,034‌

992134817.UG.FTS.B,

19.99%,

3/11/25

..

560‌

580‌

992156714.UG.FTS.B,

19.99%,

3/11/25

..

400‌

409‌

992159439.UG.FTS.B,

19.99%,

3/11/25

..

730‌

755‌

992168147.UG.FTS.B,

19.99%,

3/11/25

..

2,000‌

2,069‌

992169406.UG.FTS.B,

19.99%,

3/11/25

..

30‌

31‌

992170505.UG.FTS.B,

19.99%,

3/11/25

..

40‌

42‌

992172074.UG.FTS.B,

19.99%,

3/11/25

..

601‌

621‌

992180293.UG.FTS.B,

19.99%,

3/11/25

..

568‌

581‌

992186433.UG.FTS.B,

19.99%,

3/11/25

..

42‌

44‌

992187213.UG.FTS.B,

19.99%,

3/11/25

..

179‌

183‌

992200009.UG.FTS.B,

19.99%,

3/11/25

..

48‌

50‌

992208823.UG.FTS.B,

19.99%,

3/11/25

..

211‌

217‌

992219618.UG.FTS.B,

19.99%,

3/11/25

..

50‌

52‌

992227850.UG.FTS.B,

19.99%,

3/11/25

..

91‌

94‌

992236813.UG.FTS.B,

19.99%,

3/11/25

..

51‌

53‌

992238523.UG.FTS.B,

19.99%,

3/11/25

..

1,000‌

1,023‌

992239941.UG.FTS.B,

19.99%,

3/11/25

..

25‌

26‌

992240522.UG.FTS.B,

19.99%,

3/11/25

..

116‌

120‌

992244571.UG.FTS.B,

19.99%,

3/11/25

..

299‌

308‌

992246655.UG.FTS.B,

20.46%,

3/11/25

..

39‌

40‌

991964099.UG.FTS.B,

25.95%,

3/11/25

..

438‌

453‌

992002903.UG.FTS.B,

25.95%,

3/11/25

..

1,962‌

2,029‌

992229333.UG.FTS.B,

25.95%,

3/11/25

..

193‌

197‌

992015330.UG.FTS.B,

26.94%,

3/11/25

..

51‌

52‌

992021592.UG.FTS.B,

26.94%,

3/11/25

..

266‌

275‌

992061603.UG.FTS.B,

26.94%,

3/11/25

..

54‌

56‌

991969813.UG.FTS.B,

27.95%,

3/11/25

..

167‌

173‌

991970478.UG.FTS.B,

27.95%,

3/11/25

..

109‌

113‌

991977566.UG.FTS.B,

27.95%,

3/11/25

..

641‌

661‌

991981186.UG.FTS.B,

27.95%,

3/11/25

..

219‌

227‌

991993621.UG.FTS.B,

27.95%,

3/11/25

..

100‌

103‌

992012687.UG.FTS.B,

27.95%,

3/11/25

..

718‌

743‌

992026849.UG.FTS.B,

27.95%,

3/11/25

..

115‌

119‌

992032976.UG.FTS.B,

27.95%,

3/11/25

..

20‌

21‌

992117170.UG.FTS.B,

27.95%,

3/11/25

..

19‌

20‌

992148579.UG.FTS.B,

27.95%,

3/11/25

..

222‌

229‌

992247753.UG.FTS.B,

27.95%,

3/11/25

..

500‌

511‌

991967391.UG.FTS.B,

27.99%,

3/11/25

..

1,506‌

1,539‌

991971937.UG.FTS.B,

27.99%,

3/11/25

..

216‌

223‌

992004287.UG.FTS.B,

27.99%,

3/11/25

..

831‌

859‌

992026942.UG.FTS.B,

27.99%,

3/11/25

..

58‌

60‌

992027907.UG.FTS.B,

27.99%,

3/11/25

..

105‌

109‌

Description

Principal

Amount

Value

UGCard

(continued)

992048043.UG.FTS.B,

27.99%,

3/11/25

..

$

118‌

$

122‌

992073005.UG.FTS.B,

27.99%,

3/11/25

..

360‌

372‌

992112350.UG.FTS.B,

27.99%,

3/11/25

..

145‌

150‌

992145143.UG.FTS.B,

27.99%,

3/11/25

..

281‌

287‌

992210645.UG.FTS.B,

27.99%,

3/11/25

..

2,112‌

2,158‌

991962687.UG.FTS.B,

28.98%,

3/11/25

..

540‌

551‌

991963921.UG.FTS.B,

28.98%,

3/11/25

..

1,000‌

1,034‌

991964384.UG.FTS.B,

28.98%,

3/11/25

..

1,800‌

1,861‌

991964832.UG.FTS.B,

28.98%,

3/11/25

..

3,000‌

3,101‌

991965134.UG.FTS.B,

28.98%,

3/11/25

..

190‌

196‌

991967251.UG.FTS.B,

28.98%,

3/11/25

..

109‌

113‌

991968337.UG.FTS.B,

28.98%,

3/11/25

..

95‌

98‌

991968362.UG.FTS.B,

28.98%,

3/11/25

..

708‌

731‌

991968741.UG.FTS.B,

28.98%,

3/11/25

..

155‌

160‌

991969169.UG.FTS.B,

28.98%,

3/11/25

..

77‌

79‌

991969198.UG.FTS.B,

28.98%,

3/11/25

..

1,239‌

1,281‌

991969461.UG.FTS.B,

28.98%,

3/11/25

..

1,038‌

1,073‌

991969940.UG.FTS.B,

28.98%,

3/11/25

..

166‌

169‌

991970346.UG.FTS.B,

28.98%,

3/11/25

..

972‌

1,005‌

991970907.UG.FTS.B,

28.98%,

3/11/25

..

51‌

52‌

991970931.UG.FTS.B,

28.98%,

3/11/25

..

89‌

92‌

991970946.UG.FTS.B,

28.98%,

3/11/25

..

69‌

71‌

991971008.UG.FTS.B,

28.98%,

3/11/25

..

166‌

171‌

991971475.UG.FTS.B,

28.98%,

3/11/25

..

3,544‌

3,663‌

991971676.UG.FTS.B,

28.98%,

3/11/25

..

29‌

30‌

991971771.UG.FTS.B,

28.98%,

3/11/25

..

173‌

179‌

991971916.UG.FTS.B,

28.98%,

3/11/25

..

326‌

337‌

991972347.UG.FTS.B,

28.98%,

3/11/25

..

1,660‌

1,716‌

991972362.UG.FTS.B,

28.98%,

3/11/25

..

281‌

290‌

991972503.UG.FTS.B,

28.98%,

3/11/25

..

101‌

104‌

991972797.UG.FTS.B,

28.98%,

3/11/25

..

550‌

569‌

991973560.UG.FTS.B,

28.98%,

3/11/25

..

95‌

98‌

991974107.UG.FTS.B,

28.98%,

3/11/25

..

200‌

207‌

991974812.UG.FTS.B,

28.98%,

3/11/25

..

174‌

179‌

991974854.UG.FTS.B,

28.98%,

3/11/25

..

3,000‌

3,101‌

991975165.UG.FTS.B,

28.98%,

3/11/25

..

285‌

295‌

991975406.UG.FTS.B,

28.98%,

3/11/25

..

164‌

169‌

991975649.UG.FTS.B,

28.98%,

3/11/25

..

186‌

192‌

991978841.UG.FTS.B,

28.98%,

3/11/25

..

548‌

566‌

991978961.UG.FTS.B,

28.98%,

3/11/25

..

145‌

148‌

991979155.UG.FTS.B,

28.98%,

3/11/25

..

308‌

315‌

991979639.UG.FTS.B,

28.98%,

3/11/25

..

272‌

278‌

991980057.UG.FTS.B,

28.98%,

3/11/25

..

886‌

916‌

991980324.UG.FTS.B,

28.98%,

3/11/25

..

107‌

110‌

991980345.UG.FTS.B,

28.98%,

3/11/25

..

244‌

158‌

991980616.UG.FTS.B,

28.98%,

3/11/25

..

404‌

418‌

991980716.UG.FTS.B,

28.98%,

3/11/25

..

1,219‌

1,260‌

991980771.UG.FTS.B,

28.98%,

3/11/25

..

453‌

464‌

991981032.UG.FTS.B,

28.98%,

3/11/25

..

126‌

130‌

991982635.UG.FTS.B,

28.98%,

3/11/25

..

519‌

536‌

991982793.UG.FTS.B,

28.98%,

3/11/25

..

110‌

114‌

991982832.UG.FTS.B,

28.98%,

3/11/25

..

30‌

31‌

991984407.UG.FTS.B,

28.98%,

3/11/25

..

200‌

207‌

991987352.UG.FTS.B,

28.98%,

3/11/25

..

309‌

314‌

991987662.UG.FTS.B,

28.98%,

3/11/25

..

90‌

93‌

991988510.UG.FTS.B,

28.98%,

3/11/25

..

60‌

62‌

991988715.UG.FTS.B,

28.98%,

3/11/25

..

69‌

71‌

991988726.UG.FTS.B,

28.98%,

3/11/25

..

68‌

70‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

62

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

UGCard

(continued)

991988938.UG.FTS.B,

28.98%,

3/11/25

..

$

198‌

$

202‌

991989952.UG.FTS.B,

28.98%,

3/11/25

..

636‌

656‌

991990261.UG.FTS.B,

28.98%,

3/11/25

..

314‌

324‌

991990977.UG.FTS.B,

28.98%,

3/11/25

..

788‌

803‌

991991026.UG.FTS.B,

28.98%,

3/11/25

..

1,099‌

1,136‌

991991544.UG.FTS.B,

28.98%,

3/11/25

..

100‌

103‌

991991655.UG.FTS.B,

28.98%,

3/11/25

..

25‌

26‌

991992687.UG.FTS.B,

28.98%,

3/11/25

..

64‌

66‌

991993026.UG.FTS.B,

28.98%,

3/11/25

..

40‌

41‌

991994826.UG.FTS.B,

28.98%,

3/11/25

..

1,000‌

1,034‌

991995958.UG.FTS.B,

28.98%,

3/11/25

..

454‌

460‌

991996600.UG.FTS.B,

28.98%,

3/11/25

..

940‌

972‌

991997076.UG.FTS.B,

28.98%,

3/11/25

..

40‌

41‌

991997273.UG.FTS.B,

28.98%,

3/11/25

..

152‌

157‌

991997912.UG.FTS.B,

28.98%,

3/11/25

..

916‌

947‌

991999549.UG.FTS.B,

28.98%,

3/11/25

..

514‌

531‌

992000296.UG.FTS.B,

28.98%,

3/11/25

..

71‌

73‌

992000896.UG.FTS.B,

28.98%,

3/11/25

..

263‌

271‌

992001193.UG.FTS.B,

28.98%,

3/11/25

..

325‌

336‌

992001700.UG.FTS.B,

28.98%,

3/11/25

..

1,898‌

1,963‌

992001817.UG.FTS.B,

28.98%,

3/11/25

..

68‌

70‌

992001923.UG.FTS.B,

28.98%,

3/11/25

..

303‌

314‌

992002219.UG.FTS.B,

28.98%,

3/11/25

..

984‌

1,017‌

992002332.UG.FTS.B,

28.98%,

3/11/25

..

3,084‌

3,188‌

992002435.UG.FTS.B,

28.98%,

3/11/25

..

302‌

312‌

992005280.UG.FTS.B,

28.98%,

3/11/25

..

244‌

252‌

992006377.UG.FTS.B,

28.98%,

3/11/25

..

626‌

648‌

992006640.UG.FTS.B,

28.98%,

3/11/25

..

990‌

1,024‌

992009240.UG.FTS.B,

28.98%,

3/11/25

..

12‌

12‌

992009408.UG.FTS.B,

28.98%,

3/11/25

..

403‌

417‌

992010372.UG.FTS.B,

28.98%,

3/11/25

..

247‌

249‌

992010693.UG.FTS.B,

28.98%,

3/11/25

..

468‌

478‌

992011471.UG.FTS.B,

28.98%,

3/11/25

..

1,017‌

1,049‌

992011646.UG.FTS.B,

28.98%,

3/11/25

..

3,500‌

3,618‌

992011714.UG.FTS.B,

28.98%,

3/11/25

..

197‌

126‌

992012449.UG.FTS.B,

28.98%,

3/11/25

..

10‌

11‌

992012544.UG.FTS.B,

28.98%,

3/11/25

..

376‌

388‌

992014857.UG.FTS.B,

28.98%,

3/11/25

..

297‌

62‌

992016038.UG.FTS.B,

28.98%,

3/11/25

..

217‌

224‌

992016160.UG.FTS.B,

28.98%,

3/11/25

..

52‌

53‌

992016171.UG.FTS.B,

28.98%,

3/11/25

..

431‌

446‌

992016258.UG.FTS.B,

28.98%,

3/11/25

..

623‌

644‌

992016409.UG.FTS.B,

28.98%,

3/11/25

..

82‌

85‌

992017561.UG.FTS.B,

28.98%,

3/11/25

..

1,258‌

1,301‌

992017677.UG.FTS.B,

28.98%,

3/11/25

..

375‌

388‌

992020859.UG.FTS.B,

28.98%,

3/11/25

..

243‌

251‌

992023183.UG.FTS.B,

28.98%,

3/11/25

..

95‌

98‌

992023314.UG.FTS.B,

28.98%,

3/11/25

..

562‌

581‌

992023534.UG.FTS.B,

28.98%,

3/11/25

..

200‌

207‌

992024240.UG.FTS.B,

28.98%,

3/11/25

..

190‌

197‌

992024405.UG.FTS.B,

28.98%,

3/11/25

..

102‌

106‌

992024701.UG.FTS.B,

28.98%,

3/11/25

..

84‌

87‌

992025436.UG.FTS.B,

28.98%,

3/11/25

..

2,437‌

2,519‌

992025712.UG.FTS.B,

28.98%,

3/11/25

..

249‌

257‌

992025823.UG.FTS.B,

28.98%,

3/11/25

..

253‌

261‌

992025833.UG.FTS.B,

28.98%,

3/11/25

..

90‌

93‌

992025839.UG.FTS.B,

28.98%,

3/11/25

..

128‌

133‌

992025859.UG.FTS.B,

28.98%,

3/11/25

..

173‌

179‌

Description

Principal

Amount

Value

UGCard

(continued)

992026566.UG.FTS.B,

28.98%,

3/11/25

..

$

161‌

$

167‌

992027009.UG.FTS.B,

28.98%,

3/11/25

..

59‌

60‌

992030460.UG.FTS.B,

28.98%,

3/11/25

..

114‌

118‌

992030548.UG.FTS.B,

28.98%,

3/11/25

..

16‌

17‌

992031793.UG.FTS.B,

28.98%,

3/11/25

..

60‌

62‌

992032835.UG.FTS.B,

28.98%,

3/11/25

..

41‌

42‌

992034442.UG.FTS.B,

28.98%,

3/11/25

..

1,200‌

1,225‌

992035137.UG.FTS.B,

28.98%,

3/11/25

..

1,000‌

1,034‌

992037045.UG.FTS.B,

28.98%,

3/11/25

..

719‌

740‌

992037099.UG.FTS.B,

28.98%,

3/11/25

..

932‌

953‌

992037522.UG.FTS.B,

28.98%,

3/11/25

..

500‌

517‌

992038711.UG.FTS.B,

28.98%,

3/11/25

..

200‌

207‌

992040822.UG.FTS.B,

28.98%,

3/11/25

..

1,128‌

1,166‌

992041798.UG.FTS.B,

28.98%,

3/11/25

..

89‌

92‌

992043859.UG.FTS.B,

28.98%,

3/11/25

..

283‌

295‌

992046105.UG.FTS.B,

28.98%,

3/11/25

..

32‌

33‌

992046466.UG.FTS.B,

28.98%,

3/11/25

..

348‌

360‌

992046859.UG.FTS.B,

28.98%,

3/11/25

..

341‌

352‌

992047107.UG.FTS.B,

28.98%,

3/11/25

..

8‌

8‌

992047309.UG.FTS.B,

28.98%,

3/11/25

..

1,500‌

1,551‌

992047615.UG.FTS.B,

28.98%,

3/11/25

..

2,000‌

2,068‌

992047829.UG.FTS.B,

28.98%,

3/11/25

..

7,500‌

7,753‌

992047946.UG.FTS.B,

28.98%,

3/11/25

..

6,000‌

6,120‌

992048579.UG.FTS.B,

28.98%,

3/11/25

..

321‌

332‌

992048986.UG.FTS.B,

28.98%,

3/11/25

..

250‌

258‌

992051819.UG.FTS.B,

28.98%,

3/11/25

..

143‌

148‌

992052408.UG.FTS.B,

28.98%,

3/11/25

..

166‌

171‌

992053296.UG.FTS.B,

28.98%,

3/11/25

..

847‌

876‌

992053324.UG.FTS.B,

28.98%,

3/11/25

..

33‌

34‌

992053411.UG.FTS.B,

28.98%,

3/11/25

..

63‌

65‌

992053675.UG.FTS.B,

28.98%,

3/11/25

..

2,754‌

2,847‌

992053924.UG.FTS.B,

28.98%,

3/11/25

..

215‌

222‌

992054259.UG.FTS.B,

28.98%,

3/11/25

..

80‌

83‌

992056745.UG.FTS.B,

28.98%,

3/11/25

..

4,000‌

4,135‌

992058151.UG.FTS.B,

28.98%,

3/11/25

..

500‌

510‌

992058166.UG.FTS.B,

28.98%,

3/11/25

..

400‌

414‌

992058413.UG.FTS.B,

28.98%,

3/11/25

..

275‌

284‌

992059286.UG.FTS.B,

28.98%,

3/11/25

..

242‌

248‌

992059805.UG.FTS.B,

28.98%,

3/11/25

..

17‌

18‌

992059925.UG.FTS.B,

28.98%,

3/11/25

..

354‌

361‌

992063791.UG.FTS.B,

28.98%,

3/11/25

..

391‌

405‌

992066045.UG.FTS.B,

28.98%,

3/11/25

..

1,200‌

1,241‌

992066282.UG.FTS.B,

28.98%,

3/11/25

..

1,186‌

1,212‌

992070767.UG.FTS.B,

28.98%,

3/11/25

..

60‌

62‌

992074959.UG.FTS.B,

28.98%,

3/11/25

..

362‌

374‌

992076126.UG.FTS.B,

28.98%,

3/11/25

..

375‌

387‌

992076621.UG.FTS.B,

28.98%,

3/11/25

..

114‌

118‌

992078400.UG.FTS.B,

28.98%,

3/11/25

..

15‌

8‌

992081943.UG.FTS.B,

28.98%,

3/11/25

..

1,847‌

1,910‌

992083285.UG.FTS.B,

28.98%,

3/11/25

..

79‌

82‌

992087191.UG.FTS.B,

28.98%,

3/11/25

..

136‌

139‌

992089218.UG.FTS.B,

28.98%,

3/11/25

..

463‌

479‌

992089935.UG.FTS.B,

28.98%,

3/11/25

..

1,096‌

1,120‌

992092715.UG.FTS.B,

28.98%,

3/11/25

..

375‌

387‌

992093149.UG.FTS.B,

28.98%,

3/11/25

..

300‌

310‌

992093287.UG.FTS.B,

28.98%,

3/11/25

..

3,000‌

3,062‌

992095939.UG.FTS.B,

28.98%,

3/11/25

..

29‌

30‌

992097011.UG.FTS.B,

28.98%,

3/11/25

..

166‌

170‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

63

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

UGCard

(continued)

992097310.UG.FTS.B,

28.98%,

3/11/25

..

$

14‌

$

14‌

992097729.UG.FTS.B,

28.98%,

3/11/25

..

30‌

31‌

992098794.UG.FTS.B,

28.98%,

3/11/25

..

675‌

697‌

992099017.UG.FTS.B,

28.98%,

3/11/25

..

59‌

60‌

992101346.UG.FTS.B,

28.98%,

3/11/25

..

700‌

714‌

992103031.UG.FTS.B,

28.98%,

3/11/25

..

700‌

724‌

992103102.UG.FTS.B,

28.98%,

3/11/25

..

1,750‌

1,786‌

992104063.UG.FTS.B,

28.98%,

3/11/25

..

77‌

79‌

992107143.UG.FTS.B,

28.98%,

3/11/25

..

260‌

269‌

992108750.UG.FTS.B,

28.98%,

3/11/25

..

112‌

116‌

992110301.UG.FTS.B,

28.98%,

3/11/25

..

35‌

36‌

992114343.UG.FTS.B,

28.98%,

3/11/25

..

21‌

22‌

992115693.UG.FTS.B,

28.98%,

3/11/25

..

1,192‌

1,223‌

992115871.UG.FTS.B,

28.98%,

3/11/25

..

217‌

224‌

992120242.UG.FTS.B,

28.98%,

3/11/25

..

50‌

52‌

992122385.UG.FTS.B,

28.98%,

3/11/25

..

300‌

310‌

992126188.UG.FTS.B,

28.98%,

3/11/25

..

265‌

274‌

992126812.UG.FTS.B,

28.98%,

3/11/25

..

263‌

269‌

992132545.UG.FTS.B,

28.98%,

3/11/25

..

250‌

258‌

992133652.UG.FTS.B,

28.98%,

3/11/25

..

138‌

141‌

992134748.UG.FTS.B,

28.98%,

3/11/25

..

76‌

78‌

992135922.UG.FTS.B,

28.98%,

3/11/25

..

35‌

36‌

992137953.UG.FTS.B,

28.98%,

3/11/25

..

8‌

8‌

992147858.UG.FTS.B,

28.98%,

3/11/25

..

75‌

78‌

992148358.UG.FTS.B,

28.98%,

3/11/25

..

246‌

251‌

992148737.UG.FTS.B,

28.98%,

3/11/25

..

475‌

491‌

992151525.UG.FTS.B,

28.98%,

3/11/25

..

76‌

78‌

992153664.UG.FTS.B,

28.98%,

3/11/25

..

391‌

404‌

992153993.UG.FTS.B,

28.98%,

3/11/25

..

124‌

129‌

992154044.UG.FTS.B,

28.98%,

3/11/25

..

97‌

100‌

992154912.UG.FTS.B,

28.98%,

3/11/25

..

39‌

40‌

992155051.UG.FTS.B,

28.98%,

3/11/25

..

400‌

414‌

992157584.UG.FTS.B,

28.98%,

3/11/25

..

1,514‌

1,534‌

992157987.UG.FTS.B,

28.98%,

3/11/25

..

500‌

517‌

992161362.UG.FTS.B,

28.98%,

3/11/25

..

60‌

62‌

992164863.UG.FTS.B,

28.98%,

3/11/25

..

214‌

222‌

992168518.UG.FTS.B,

28.98%,

3/11/25

..

750‌

775‌

992169141.UG.FTS.B,

28.98%,

3/11/25

..

18‌

18‌

992170038.UG.FTS.B,

28.98%,

3/11/25

..

118‌

122‌

992170854.UG.FTS.B,

28.98%,

3/11/25

..

107‌

111‌

992171424.UG.FTS.B,

28.98%,

3/11/25

..

75‌

77‌

992181823.UG.FTS.B,

28.98%,

3/11/25

..

495‌

506‌

992182107.UG.FTS.B,

28.98%,

3/11/25

..

467‌

478‌

992187497.UG.FTS.B,

28.98%,

3/11/25

..

394‌

402‌

992188805.UG.FTS.B,

28.98%,

3/11/25

..

249‌

254‌

992190531.UG.FTS.B,

28.98%,

3/11/25

..

2,000‌

2,044‌

992191711.UG.FTS.B,

28.98%,

3/11/25

..

337‌

344‌

992197157.UG.FTS.B,

28.98%,

3/11/25

..

91‌

94‌

992200196.UG.FTS.B,

28.98%,

3/11/25

..

45‌

47‌

992201272.UG.FTS.B,

28.98%,

3/11/25

..

101‌

104‌

992203919.UG.FTS.B,

28.98%,

3/11/25

..

104‌

107‌

992203943.UG.FTS.B,

28.98%,

3/11/25

..

41‌

42‌

992208167.UG.FTS.B,

28.98%,

3/11/25

..

111‌

115‌

992212028.UG.FTS.B,

28.98%,

3/11/25

..

404‌

413‌

992212519.UG.FTS.B,

28.98%,

3/11/25

..

40‌

41‌

992213178.UG.FTS.B,

28.98%,

3/11/25

..

25‌

26‌

992218006.UG.FTS.B,

28.98%,

3/11/25

..

200‌

204‌

992222254.UG.FTS.B,

28.98%,

3/11/25

..

236‌

241‌

Description

Principal

Amount

Value

UGCard

(continued)

992225786.UG.FTS.B,

28.98%,

3/11/25

..

$

791‌

$

808‌

992226073.UG.FTS.B,

28.98%,

3/11/25

..

99‌

102‌

992228026.UG.FTS.B,

28.98%,

3/11/25

..

700‌

716‌

992230651.UG.FTS.B,

28.98%,

3/11/25

..

35‌

36‌

992233151.UG.FTS.B,

28.98%,

3/11/25

..

169‌

173‌

992233226.UG.FTS.B,

28.98%,

3/11/25

..

17‌

17‌

992233251.UG.FTS.B,

28.98%,

3/11/25

..

31‌

32‌

992234253.UG.FTS.B,

28.98%,

3/11/25

..

218‌

221‌

992238338.UG.FTS.B,

28.98%,

3/11/25

..

170‌

174‌

992238365.UG.FTS.B,

28.98%,

3/11/25

..

800‌

818‌

992239074.UG.FTS.B,

28.98%,

3/11/25

..

200‌

207‌

992239076.UG.FTS.B,

28.98%,

3/11/25

..

500‌

511‌

992239900.UG.FTS.B,

28.98%,

3/11/25

..

127‌

130‌

992244427.UG.FTS.B,

28.98%,

3/11/25

..

211‌

216‌

992244600.UG.FTS.B,

28.98%,

3/11/25

..

126‌

128‌

992248314.UG.FTS.B,

28.98%,

3/11/25

..

500‌

511‌

991969318.UG.FTS.B,

29.45%,

3/11/25

..

274‌

283‌

991978660.UG.FTS.B,

29.45%,

3/11/25

..

7,480‌

7,732‌

991995404.UG.FTS.B,

29.45%,

3/11/25

..

197‌

204‌

992023513.UG.FTS.B,

29.45%,

3/11/25

..

193‌

199‌

992027450.UG.FTS.B,

29.45%,

3/11/25

..

144‌

149‌

992029745.UG.FTS.B,

29.45%,

3/11/25

..

117‌

121‌

992033356.UG.FTS.B,

29.45%,

3/11/25

..

261‌

269‌

992046823.UG.FTS.B,

29.45%,

3/11/25

..

27‌

28‌

992199894.UG.FTS.B,

29.45%,

3/11/25

..

305‌

311‌

992206165.UG.FTS.B,

29.45%,

3/11/25

..

228‌

232‌

991963425.UG.FTS.B,

29.46%,

3/11/25

..

2,245‌

2,320‌

991967797.UG.FTS.B,

29.46%,

3/11/25

..

305‌

312‌

991968571.UG.FTS.B,

29.46%,

3/11/25

..

888‌

915‌

991968800.UG.FTS.B,

29.46%,

3/11/25

..

22‌

22‌

991971296.UG.FTS.B,

29.46%,

3/11/25

..

77‌

79‌

991971895.UG.FTS.B,

29.46%,

3/11/25

..

140‌

145‌

991972979.UG.FTS.B,

29.46%,

3/11/25

..

54‌

55‌

991980888.UG.FTS.B,

29.46%,

3/11/25

..

746‌

769‌

991983007.UG.FTS.B,

29.46%,

3/11/25

..

9‌

9‌

991983862.UG.FTS.B,

29.46%,

3/11/25

..

2‌

2‌

991988255.UG.FTS.B,

29.46%,

3/11/25

..

337‌

348‌

991991096.UG.FTS.B,

29.46%,

3/11/25

..

377‌

390‌

991993331.UG.FTS.B,

29.46%,

3/11/25

..

460‌

474‌

992006452.UG.FTS.B,

29.46%,

3/11/25

..

717‌

741‌

992012068.UG.FTS.B,

29.46%,

3/11/25

..

22‌

23‌

992016430.UG.FTS.B,

29.46%,

3/11/25

..

1,222‌

1,242‌

992018601.UG.FTS.B,

29.46%,

3/11/25

..

112‌

115‌

992024385.UG.FTS.B,

29.46%,

3/11/25

..

160‌

164‌

992025413.UG.FTS.B,

29.46%,

3/11/25

..

479‌

495‌

992032333.UG.FTS.B,

29.46%,

3/11/25

..

33‌

34‌

992033511.UG.FTS.B,

29.46%,

3/11/25

..

63‌

64‌

992044734.UG.FTS.B,

29.46%,

3/11/25

..

363‌

371‌

992052877.UG.FTS.B,

29.46%,

3/11/25

..

76‌

78‌

992073020.UG.FTS.B,

29.46%,

3/11/25

..

275‌

283‌

992079289.UG.FTS.B,

29.46%,

3/11/25

..

1,233‌

1,268‌

992120587.UG.FTS.B,

29.46%,

3/11/25

..

271‌

280‌

992131978.UG.FTS.B,

29.46%,

3/11/25

..

37‌

38‌

992135813.UG.FTS.B,

29.46%,

3/11/25

..

17‌

17‌

992154627.UG.FTS.B,

29.46%,

3/11/25

..

320‌

325‌

992158845.UG.FTS.B,

29.46%,

3/11/25

..

550‌

568‌

992175894.UG.FTS.B,

29.46%,

3/11/25

..

44‌

45‌

992177585.UG.FTS.B,

29.46%,

3/11/25

..

600‌

620‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

64

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

UGCard

(continued)

992201881.UG.FTS.B,

29.46%,

3/11/25

..

$

470‌

$

484‌

991967614.UG.FTS.B,

29.47%,

3/11/25

..

305‌

315‌

991971148.UG.FTS.B,

29.47%,

3/11/25

..

1,280‌

1,322‌

991971261.UG.FTS.B,

29.47%,

3/11/25

..

41‌

43‌

991974316.UG.FTS.B,

29.47%,

3/11/25

..

85‌

87‌

991974470.UG.FTS.B,

29.47%,

3/11/25

..

56‌

16‌

991984009.UG.FTS.B,

29.47%,

3/11/25

..

729‌

753‌

991990345.UG.FTS.B,

29.47%,

3/11/25

..

61‌

63‌

991991818.UG.FTS.B,

29.47%,

3/11/25

..

160‌

165‌

991993726.UG.FTS.B,

29.47%,

3/11/25

..

462‌

477‌

992011703.UG.FTS.B,

29.47%,

3/11/25

..

296‌

306‌

992013511.UG.FTS.B,

29.47%,

3/11/25

..

108‌

112‌

992014663.UG.FTS.B,

29.47%,

3/11/25

..

0‌

0‌

992017890.UG.FTS.B,

29.47%,

3/11/25

..

299‌

309‌

992023663.UG.FTS.B,

29.47%,

3/11/25

..

733‌

739‌

992024797.UG.FTS.B,

29.47%,

3/11/25

..

135‌

136‌

992030032.UG.FTS.B,

29.47%,

3/11/25

..

42‌

43‌

992052709.UG.FTS.B,

29.47%,

3/11/25

..

349‌

361‌

992053435.UG.FTS.B,

29.47%,

3/11/25

..

97‌

100‌

992055451.UG.FTS.B,

29.47%,

3/11/25

..

263‌

271‌

992100125.UG.FTS.B,

29.47%,

3/11/25

..

571‌

584‌

992109173.UG.FTS.B,

29.47%,

3/11/25

..

40‌

41‌

992126209.UG.FTS.B,

29.47%,

3/11/25

..

212‌

219‌

992144245.UG.FTS.B,

29.47%,

3/11/25

..

658‌

439‌

992150495.UG.FTS.B,

29.47%,

3/11/25

..

23‌

23‌

992173439.UG.FTS.B,

29.47%,

3/11/25

..

122‌

124‌

992175153.UG.FTS.B,

29.47%,

3/11/25

..

80‌

83‌

992206664.UG.FTS.B,

29.47%,

3/11/25

..

57‌

59‌

992214422.UG.FTS.B,

29.47%,

3/11/25

..

196‌

200‌

992216774.UG.FTS.B,

29.47%,

3/11/25

..

500‌

510‌

992219095.UG.FTS.B,

29.47%,

3/11/25

..

500‌

510‌

991964138.UG.FTS.B,

29.48%,

3/11/25

..

250‌

258‌

991967374.UG.FTS.B,

29.48%,

3/11/25

..

326‌

337‌

991974331.UG.FTS.B,

29.48%,

3/11/25

..

80‌

82‌

991980731.UG.FTS.B,

29.48%,

3/11/25

..

159‌

165‌

991983286.UG.FTS.B,

29.48%,

3/11/25

..

235‌

243‌

992001123.UG.FTS.B,

29.48%,

3/11/25

..

169‌

173‌

992029150.UG.FTS.B,

29.48%,

3/11/25

..

214‌

221‌

992031802.UG.FTS.B,

29.48%,

3/11/25

..

96‌

96‌

992035549.UG.FTS.B,

29.48%,

3/11/25

..

100‌

103‌

992053151.UG.FTS.B,

29.48%,

3/11/25

..

671‌

686‌

992063913.UG.FTS.B,

29.48%,

3/11/25

..

474‌

489‌

992070566.UG.FTS.B,

29.48%,

3/11/25

..

401‌

415‌

992072427.UG.FTS.B,

29.48%,

3/11/25

..

1,491‌

1,535‌

992096924.UG.FTS.B,

29.48%,

3/11/25

..

11‌

11‌

992103617.UG.FTS.B,

29.48%,

3/11/25

..

12‌

12‌

992106546.UG.FTS.B,

29.48%,

3/11/25

..

12‌

12‌

992110695.UG.FTS.B,

29.48%,

3/11/25

..

136‌

140‌

992120325.UG.FTS.B,

29.48%,

3/11/25

..

124‌

125‌

992161569.UG.FTS.B,

29.48%,

3/11/25

..

20‌

21‌

992184719.UG.FTS.B,

29.48%,

3/11/25

..

157‌

160‌

992190459.UG.FTS.B,

29.48%,

3/11/25

..

215‌

219‌

992190477.UG.FTS.B,

29.48%,

3/11/25

..

472‌

481‌

992211158.UG.FTS.B,

29.48%,

3/11/25

...

101‌

104‌

992221163.UG.FTS.B,

29.48%,

3/11/25

..

53‌

54‌

992247316.UG.FTS.B,

29.48%,

3/11/25

..

500‌

510‌

991963878.UG.FTS.B,

29.49%,

3/11/25

..

200‌

207‌

991964312.UG.FTS.B,

29.49%,

3/11/25

..

600‌

610‌

Description

Principal

Amount

Value

UGCard

(continued)

991964812.UG.FTS.B,

29.49%,

3/11/25

..

$

1,300‌

$

1,344‌

991965159.UG.FTS.B,

29.49%,

3/11/25

..

200‌

207‌

991965161.UG.FTS.B,

29.49%,

3/11/25

..

500‌

516‌

991965824.UG.FTS.B,

29.49%,

3/11/25

..

300‌

310‌

991965941.UG.FTS.B,

29.49%,

3/11/25

..

250‌

258‌

991966429.UG.FTS.B,

29.49%,

3/11/25

..

100‌

103‌

991966840.UG.FTS.B,

29.49%,

3/11/25

..

670‌

692‌

991966882.UG.FTS.B,

29.49%,

3/11/25

..

135‌

140‌

991967022.UG.FTS.B,

29.49%,

3/11/25

..

625‌

643‌

991967066.UG.FTS.B,

29.49%,

3/11/25

..

116‌

120‌

991967368.UG.FTS.B,

29.49%,

3/11/25

..

370‌

382‌

991967471.UG.FTS.B,

29.49%,

3/11/25

..

760‌

770‌

991967604.UG.FTS.B,

29.49%,

3/11/25

..

119‌

123‌

991967623.UG.FTS.B,

29.49%,

3/11/25

..

206‌

212‌

991967652.UG.FTS.B,

29.49%,

3/11/25

..

94‌

96‌

991967768.UG.FTS.B,

29.49%,

3/11/25

..

21‌

22‌

991967839.UG.FTS.B,

29.49%,

3/11/25

..

63‌

65‌

991967842.UG.FTS.B,

29.49%,

3/11/25

..

50‌

51‌

991968291.UG.FTS.B,

29.49%,

3/11/25

..

226‌

234‌

991969018.UG.FTS.B,

29.49%,

3/11/25

..

364‌

376‌

991969030.UG.FTS.B,

29.49%,

3/11/25

..

15‌

15‌

991969157.UG.FTS.B,

29.49%,

3/11/25

..

391‌

402‌

991969491.UG.FTS.B,

29.49%,

3/11/25

..

965‌

986‌

991969594.UG.FTS.B,

29.49%,

3/11/25

..

1,263‌

1,301‌

991969778.UG.FTS.B,

29.49%,

3/11/25

..

7‌

7‌

991969874.UG.FTS.B,

29.49%,

3/11/25

..

589‌

608‌

991970083.UG.FTS.B,

29.49%,

3/11/25

..

156‌

161‌

991970086.UG.FTS.B,

29.49%,

3/11/25

..

76‌

79‌

991970299.UG.FTS.B,

29.49%,

3/11/25

..

112‌

116‌

991970458.UG.FTS.B,

29.49%,

3/11/25

..

381‌

393‌

991970537.UG.FTS.B,

29.49%,

3/11/25

..

56‌

57‌

991970765.UG.FTS.B,

29.49%,

3/11/25

..

399‌

406‌

991971173.UG.FTS.B,

29.49%,

3/11/25

..

404‌

417‌

991971292.UG.FTS.B,

29.49%,

3/11/25

..

45‌

47‌

991972933.UG.FTS.B,

29.49%,

3/11/25

..

521‌

532‌

991973725.UG.FTS.B,

29.49%,

3/11/25

..

1,116‌

1,134‌

991974345.UG.FTS.B,

29.49%,

3/11/25

..

60‌

62‌

991974651.UG.FTS.B,

29.49%,

3/11/25

..

570‌

589‌

991975540.UG.FTS.B,

29.49%,

3/11/25

..

277‌

286‌

991976245.UG.FTS.B,

29.49%,

3/11/25

..

2,300‌

2,374‌

991976864.UG.FTS.B,

29.49%,

3/11/25

..

491‌

505‌

991978237.UG.FTS.B,

29.49%,

3/11/25

..

2,847‌

2,929‌

991978435.UG.FTS.B,

29.49%,

3/11/25

..

487‌

497‌

991978479.UG.FTS.B,

29.49%,

3/11/25

..

290‌

300‌

991979745.UG.FTS.B,

29.49%,

3/11/25

..

873‌

901‌

991980333.UG.FTS.B,

29.49%,

3/11/25

..

512‌

522‌

991980877.UG.FTS.B,

29.49%,

3/11/25

..

81‌

84‌

991981090.UG.FTS.B,

29.49%,

3/11/25

..

134‌

135‌

991981214.UG.FTS.B,

29.49%,

3/11/25

..

139‌

144‌

991981233.UG.FTS.B,

29.49%,

3/11/25

..

180‌

182‌

991981426.UG.FTS.B,

29.49%,

3/11/25

..

159‌

164‌

991982204.UG.FTS.B,

29.49%,

3/11/25

..

137‌

142‌

991982514.UG.FTS.B,

29.49%,

3/11/25

..

303‌

313‌

991983055.UG.FTS.B,

29.49%,

3/11/25

..

585‌

605‌

991983111.UG.FTS.B,

29.49%,

3/11/25

...

369‌

377‌

991983215.UG.FTS.B,

29.49%,

3/11/25

..

72‌

75‌

991983636.UG.FTS.B,

29.49%,

3/11/25

..

1,163‌

1,186‌

991983781.UG.FTS.B,

29.49%,

3/11/25

..

28‌

29‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

65

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

UGCard

(continued)

991983789.UG.FTS.B,

29.49%,

3/11/25

..

$

315‌

$

325‌

991984234.UG.FTS.B,

29.49%,

3/11/25

..

147‌

151‌

991985086.UG.FTS.B,

29.49%,

3/11/25

..

150‌

155‌

991986186.UG.FTS.B,

29.49%,

3/11/25

..

369‌

377‌

991986455.UG.FTS.B,

29.49%,

3/11/25

..

48‌

49‌

991986897.UG.FTS.B,

29.49%,

3/11/25

..

70‌

72‌

991987079.UG.FTS.B,

29.49%,

3/11/25

..

223‌

230‌

991987139.UG.FTS.B,

29.49%,

3/11/25

..

26‌

27‌

991987180.UG.FTS.B,

29.49%,

3/11/25

..

227‌

231‌

991987414.UG.FTS.B,

29.49%,

3/11/25

..

1,098‌

1,120‌

991988975.UG.FTS.B,

29.49%,

3/11/25

..

98‌

102‌

991989388.UG.FTS.B,

29.49%,

3/11/25

..

83‌

86‌

991989623.UG.FTS.B,

29.49%,

3/11/25

..

323‌

332‌

991989746.UG.FTS.B,

29.49%,

3/11/25

..

126‌

130‌

991992049.UG.FTS.B,

29.49%,

3/11/25

..

268‌

273‌

991992147.UG.FTS.B,

29.49%,

3/11/25

..

929‌

945‌

991992613.UG.FTS.B,

29.49%,

3/11/25

..

68‌

70‌

991992923.UG.FTS.B,

29.49%,

3/11/25

..

8‌

8‌

991994105.UG.FTS.B,

29.49%,

3/11/25

..

300‌

310‌

991994959.UG.FTS.B,

29.49%,

3/11/25

..

3,000‌

3,098‌

991995706.UG.FTS.B,

29.49%,

3/11/25

..

4‌

4‌

991995847.UG.FTS.B,

29.49%,

3/11/25

..

101‌

104‌

991995980.UG.FTS.B,

29.49%,

3/11/25

..

402‌

414‌

991996158.UG.FTS.B,

29.49%,

3/11/25

..

476‌

492‌

991997168.UG.FTS.B,

29.49%,

3/11/25

..

29‌

30‌

991998489.UG.FTS.B,

29.49%,

3/11/25

..

326‌

337‌

991998656.UG.FTS.B,

29.49%,

3/11/25

..

221‌

48‌

991998993.UG.FTS.B,

29.49%,

3/11/25

..

3,387‌

3,496‌

991999266.UG.FTS.B,

29.49%,

3/11/25

..

52‌

54‌

991999480.UG.FTS.B,

29.49%,

3/11/25

..

34‌

35‌

992000864.UG.FTS.B,

29.49%,

3/11/25

..

2,170‌

2,214‌

992001512.UG.FTS.B,

29.49%,

3/11/25

..

116‌

119‌

992003237.UG.FTS.B,

29.49%,

3/11/25

..

946‌

967‌

992003525.UG.FTS.B,

29.49%,

3/11/25

..

500‌

517‌

992004036.UG.FTS.B,

29.49%,

3/11/25

..

2,500‌

2,548‌

992004454.UG.FTS.B,

29.49%,

3/11/25

..

400‌

413‌

992004566.UG.FTS.B,

29.49%,

3/11/25

..

600‌

619‌

992005349.UG.FTS.B,

29.49%,

3/11/25

..

360‌

372‌

992005722.UG.FTS.B,

29.49%,

3/11/25

..

11‌

11‌

992006013.UG.FTS.B,

29.49%,

3/11/25

..

600‌

131‌

992006850.UG.FTS.B,

29.49%,

3/11/25

..

9‌

10‌

992007643.UG.FTS.B,

29.49%,

3/11/25

..

86‌

88‌

992007891.UG.FTS.B,

29.49%,

3/11/25

..

202‌

208‌

992008129.UG.FTS.B,

29.49%,

3/11/25

..

148‌

153‌

992008224.UG.FTS.B,

29.49%,

3/11/25

..

2,400‌

2,479‌

992008396.UG.FTS.B,

29.49%,

3/11/25

..

33‌

34‌

992008725.UG.FTS.B,

29.49%,

3/11/25

..

80‌

82‌

992011020.UG.FTS.B,

29.49%,

3/11/25

..

168‌

174‌

992012561.UG.FTS.B,

29.49%,

3/11/25

..

15‌

16‌

992013339.UG.FTS.B,

29.49%,

3/11/25

..

907‌

933‌

992014054.UG.FTS.B,

29.49%,

3/11/25

..

22‌

23‌

992014519.UG.FTS.B,

29.49%,

3/11/25

..

120‌

124‌

992015305.UG.FTS.B,

29.49%,

3/11/25

..

10‌

10‌

992015608.UG.FTS.B,

29.49%,

3/11/25

..

70‌

72‌

992016059.UG.FTS.B,

29.49%,

3/11/25

..

258‌

266‌

992016432.UG.FTS.B,

29.49%,

3/11/25

..

55‌

57‌

992016950.UG.FTS.B,

29.49%,

3/11/25

..

55‌

56‌

992018739.UG.FTS.B,

29.49%,

3/11/25

..

517‌

533‌

Description

Principal

Amount

Value

UGCard

(continued)

992019065.UG.FTS.B,

29.49%,

3/11/25

..

$

124‌

$

128‌

992019770.UG.FTS.B,

29.49%,

3/11/25

..

433‌

447‌

992020159.UG.FTS.B,

29.49%,

3/11/25

..

2,905‌

3,002‌

992020484.UG.FTS.B,

29.49%,

3/11/25

..

599‌

610‌

992020908.UG.FTS.B,

29.49%,

3/11/25

..

13‌

13‌

992021917.UG.FTS.B,

29.49%,

3/11/25

..

889‌

919‌

992024970.UG.FTS.B,

29.49%,

3/11/25

..

2,799‌

2,893‌

992025121.UG.FTS.B,

29.49%,

3/11/25

..

209‌

216‌

992025324.UG.FTS.B,

29.49%,

3/11/25

..

43‌

38‌

992025369.UG.FTS.B,

29.49%,

3/11/25

..

121‌

125‌

992026503.UG.FTS.B,

29.49%,

3/11/25

..

147‌

152‌

992027348.UG.FTS.B,

29.49%,

3/11/25

..

132‌

137‌

992028689.UG.FTS.B,

29.49%,

3/11/25

..

149‌

154‌

992028716.UG.FTS.B,

29.49%,

3/11/25

..

672‌

691‌

992028979.UG.FTS.B,

29.49%,

3/11/25

..

93‌

96‌

992029546.UG.FTS.B,

29.49%,

3/11/25

..

2,860‌

2,919‌

992029549.UG.FTS.B,

29.49%,

3/11/25

..

186‌

192‌

992030220.UG.FTS.B,

29.49%,

3/11/25

..

44‌

45‌

992030257.UG.FTS.B,

29.49%,

3/11/25

..

764‌

787‌

992030368.UG.FTS.B,

29.49%,

3/11/25

..

47‌

48‌

992030551.UG.FTS.B,

29.49%,

3/11/25

..

17‌

17‌

992030992.UG.FTS.B,

29.49%,

3/11/25

..

80‌

83‌

992031704.UG.FTS.B,

29.49%,

3/11/25

..

57‌

17‌

992031897.UG.FTS.B,

29.49%,

3/11/25

..

178‌

184‌

992032851.UG.FTS.B,

29.49%,

3/11/25

..

1,570‌

1,622‌

992033132.UG.FTS.B,

29.49%,

3/11/25

..

1,051‌

1,073‌

992033203.UG.FTS.B,

29.49%,

3/11/25

..

431‌

443‌

992035063.UG.FTS.B,

29.49%,

3/11/25

..

540‌

557‌

992036356.UG.FTS.B,

29.49%,

3/11/25

..

870‌

880‌

992036479.UG.FTS.B,

29.49%,

3/11/25

..

357‌

369‌

992037631.UG.FTS.B,

29.49%,

3/11/25

..

175‌

181‌

992038954.UG.FTS.B,

29.49%,

3/11/25

..

2,100‌

2,170‌

992039016.UG.FTS.B,

29.49%,

3/11/25

..

343‌

355‌

992039599.UG.FTS.B,

29.49%,

3/11/25

..

1,000‌

1,033‌

992040296.UG.FTS.B,

29.49%,

3/11/25

..

103‌

106‌

992041167.UG.FTS.B,

29.49%,

3/11/25

..

49‌

50‌

992041412.UG.FTS.B,

29.49%,

3/11/25

..

265‌

270‌

992041616.UG.FTS.B,

29.49%,

3/11/25

..

119‌

26‌

992042153.UG.FTS.B,

29.49%,

3/11/25

..

161‌

35‌

992042561.UG.FTS.B,

29.49%,

3/11/25

..

90‌

92‌

992042905.UG.FTS.B,

29.49%,

3/11/25

..

24‌

25‌

992042951.UG.FTS.B,

29.49%,

3/11/25

..

73‌

75‌

992042978.UG.FTS.B,

29.49%,

3/11/25

..

62‌

64‌

992043569.UG.FTS.B,

29.49%,

3/11/25

..

92‌

95‌

992043880.UG.FTS.B,

29.49%,

3/11/25

..

105‌

108‌

992044624.UG.FTS.B,

29.49%,

3/11/25

..

40‌

41‌

992044810.UG.FTS.B,

29.49%,

3/11/25

..

68‌

70‌

992045508.UG.FTS.B,

29.49%,

3/11/25

..

384‌

395‌

992045625.UG.FTS.B,

29.49%,

3/11/25

..

7‌

7‌

992045986.UG.FTS.B,

29.49%,

3/11/25

..

54‌

56‌

992046305.UG.FTS.B,

29.49%,

3/11/25

..

1,766‌

1,825‌

992046940.UG.FTS.B,

29.49%,

3/11/25

..

1,433‌

1,473‌

992047411.UG.FTS.B,

29.49%,

3/11/25

..

4,000‌

4,074‌

992050520.UG.FTS.B,

29.49%,

3/11/25

..

64‌

66‌

992051522.UG.FTS.B,

29.49%,

3/11/25

..

309‌

319‌

992054039.UG.FTS.B,

29.49%,

3/11/25

..

105‌

109‌

992054187.UG.FTS.B,

29.49%,

3/11/25

..

7‌

7‌

992054262.UG.FTS.B,

29.49%,

3/11/25

..

5‌

5‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

66

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

UGCard

(continued)

992054554.UG.FTS.B,

29.49%,

3/11/25

..

$

305‌

$

315‌

992055177.UG.FTS.B,

29.49%,

3/11/25

..

1,715‌

1,770‌

992055369.UG.FTS.B,

29.49%,

3/11/25

..

196‌

203‌

992055529.UG.FTS.B,

29.49%,

3/11/25

..

31‌

32‌

992055567.UG.FTS.B,

29.49%,

3/11/25

..

9‌

9‌

992055900.UG.FTS.B,

29.49%,

3/11/25

..

123‌

127‌

992056316.UG.FTS.B,

29.49%,

3/11/25

..

1,861‌

1,920‌

992057294.UG.FTS.B,

29.49%,

3/11/25

..

4,200‌

4,338‌

992057995.UG.FTS.B,

29.49%,

3/11/25

..

1,200‌

263‌

992058908.UG.FTS.B,

29.49%,

3/11/25

..

104‌

107‌

992059696.UG.FTS.B,

29.49%,

3/11/25

..

29‌

27‌

992060688.UG.FTS.B,

29.49%,

3/11/25

..

274‌

280‌

992061044.UG.FTS.B,

29.49%,

3/11/25

..

6‌

6‌

992061521.UG.FTS.B,

29.49%,

3/11/25

..

39‌

40‌

992061961.UG.FTS.B,

29.49%,

3/11/25

..

14‌

14‌

992062901.UG.FTS.B,

29.49%,

3/11/25

..

110‌

114‌

992063408.UG.FTS.B,

29.49%,

3/11/25

..

98‌

101‌

992064576.UG.FTS.B,

29.49%,

3/11/25

..

147‌

152‌

992064841.UG.FTS.B,

29.49%,

3/11/25

..

88‌

91‌

992064908.UG.FTS.B,

29.49%,

3/11/25

..

45‌

46‌

992065120.UG.FTS.B,

29.49%,

3/11/25

..

25‌

26‌

992065286.UG.FTS.B,

29.49%,

3/11/25

..

2‌

2‌

992065664.UG.FTS.B,

29.49%,

3/11/25

..

2,201‌

2,275‌

992066264.UG.FTS.B,

29.49%,

3/11/25

..

600‌

620‌

992069774.UG.FTS.B,

29.49%,

3/11/25

..

133‌

137‌

992069992.UG.FTS.B,

29.49%,

3/11/25

..

1,201‌

1,242‌

992070868.UG.FTS.B,

29.49%,

3/11/25

..

66‌

68‌

992070932.UG.FTS.B,

29.49%,

3/11/25

..

188‌

195‌

992071400.UG.FTS.B,

29.49%,

3/11/25

..

839‌

866‌

992073094.UG.FTS.B,

29.49%,

3/11/25

..

89‌

92‌

992073177.UG.FTS.B,

29.49%,

3/11/25

..

66‌

68‌

992073550.UG.FTS.B,

29.49%,

3/11/25

..

297‌

307‌

992074666.UG.FTS.B,

29.49%,

3/11/25

..

163‌

166‌

992075062.UG.FTS.B,

29.49%,

3/11/25

..

34‌

35‌

992075253.UG.FTS.B,

29.49%,

3/11/25

..

17‌

18‌

992075340.UG.FTS.B,

29.49%,

3/11/25

..

17‌

17‌

992077305.UG.FTS.B,

29.49%,

3/11/25

..

81‌

84‌

992077375.UG.FTS.B,

29.49%,

3/11/25

..

96‌

22‌

992079117.UG.FTS.B,

29.49%,

3/11/25

..

26‌

27‌

992081049.UG.FTS.B,

29.49%,

3/11/25

..

225‌

232‌

992082069.UG.FTS.B,

29.49%,

3/11/25

..

146‌

151‌

992082171.UG.FTS.B,

29.49%,

3/11/25

..

514‌

530‌

992083964.UG.FTS.B,

29.49%,

3/11/25

..

117‌

121‌

992084727.UG.FTS.B,

29.49%,

3/11/25

..

281‌

291‌

992085469.UG.FTS.B,

29.49%,

3/11/25

..

464‌

479‌

992086252.UG.FTS.B,

29.49%,

3/11/25

..

255‌

263‌

992086659.UG.FTS.B,

29.49%,

3/11/25

..

60‌

62‌

992086896.UG.FTS.B,

29.49%,

3/11/25

..

101‌

104‌

992087243.UG.FTS.B,

29.49%,

3/11/25

..

307‌

318‌

992088267.UG.FTS.B,

29.49%,

3/11/25

..

98‌

101‌

992088387.UG.FTS.B,

29.49%,

3/11/25

..

16‌

17‌

992088861.UG.FTS.B,

29.49%,

3/11/25

..

260‌

269‌

992093406.UG.FTS.B,

29.49%,

3/11/25

..

740‌

765‌

992093475.UG.FTS.B,

29.49%,

3/11/25

..

20‌

20‌

992093860.UG.FTS.B,

29.49%,

3/11/25

..

498‌

514‌

992094380.UG.FTS.B,

29.49%,

3/11/25

..

56‌

58‌

992096737.UG.FTS.B,

29.49%,

3/11/25

..

32‌

33‌

992097959.UG.FTS.B,

29.49%,

3/11/25

..

32‌

33‌

Description

Principal

Amount

Value

UGCard

(continued)

992099410.UG.FTS.B,

29.49%,

3/11/25

..

$

51‌

$

52‌

992099646.UG.FTS.B,

29.49%,

3/11/25

..

50‌

51‌

992099766.UG.FTS.B,

29.49%,

3/11/25

..

8‌

8‌

992102174.UG.FTS.B,

29.49%,

3/11/25

..

200‌

207‌

992102192.UG.FTS.B,

29.49%,

3/11/25

..

1,000‌

1,034‌

992102225.UG.FTS.B,

29.49%,

3/11/25

..

100‌

103‌

992102278.UG.FTS.B,

29.49%,

3/11/25

..

71‌

73‌

992102652.UG.FTS.B,

29.49%,

3/11/25

..

73‌

75‌

992102686.UG.FTS.B,

29.49%,

3/11/25

..

250‌

258‌

992103100.UG.FTS.B,

29.49%,

3/11/25

..

318‌

328‌

992106840.UG.FTS.B,

29.49%,

3/11/25

..

63‌

65‌

992106984.UG.FTS.B,

29.49%,

3/11/25

..

307‌

317‌

992107551.UG.FTS.B,

29.49%,

3/11/25

..

663‌

685‌

992107714.UG.FTS.B,

29.49%,

3/11/25

..

75‌

77‌

992107732.UG.FTS.B,

29.49%,

3/11/25

..

567‌

585‌

992109311.UG.FTS.B,

29.49%,

3/11/25

..

392‌

405‌

992109997.UG.FTS.B,

29.49%,

3/11/25

..

2,879‌

2,933‌

992110522.UG.FTS.B,

29.49%,

3/11/25

..

242‌

249‌

992111302.UG.FTS.B,

29.49%,

3/11/25

...

94‌

97‌

992112398.UG.FTS.B,

29.49%,

3/11/25

..

200‌

207‌

992118598.UG.FTS.B,

29.49%,

3/11/25

..

960‌

976‌

992119715.UG.FTS.B,

29.49%,

3/11/25

..

53‌

54‌

992119851.UG.FTS.B,

29.49%,

3/11/25

..

22‌

23‌

992121347.UG.FTS.B,

29.49%,

3/11/25

..

116‌

120‌

992123707.UG.FTS.B,

29.49%,

3/11/25

..

2,000‌

2,041‌

992124170.UG.FTS.B,

29.49%,

3/11/25

..

40‌

41‌

992124608.UG.FTS.B,

29.49%,

3/11/25

..

20‌

21‌

992124757.UG.FTS.B,

29.49%,

3/11/25

..

60‌

62‌

992125347.UG.FTS.B,

29.49%,

3/11/25

..

318‌

328‌

992125765.UG.FTS.B,

29.49%,

3/11/25

..

108‌

111‌

992126616.UG.FTS.B,

29.49%,

3/11/25

..

460‌

469‌

992127255.UG.FTS.B,

29.49%,

3/11/25

..

19‌

19‌

992129645.UG.FTS.B,

29.49%,

3/11/25

..

34‌

34‌

992130659.UG.FTS.B,

29.49%,

3/11/25

..

160‌

165‌

992131355.UG.FTS.B,

29.49%,

3/11/25

..

366‌

378‌

992133704.UG.FTS.B,

29.49%,

3/11/25

..

20‌

21‌

992134303.UG.FTS.B,

29.49%,

3/11/25

..

43‌

44‌

992134308.UG.FTS.B,

29.49%,

3/11/25

..

15‌

15‌

992134379.UG.FTS.B,

29.49%,

3/11/25

..

1,435‌

1,483‌

992139805.UG.FTS.B,

29.49%,

3/11/25

..

47‌

49‌

992141694.UG.FTS.B,

29.49%,

3/11/25

..

49‌

50‌

992151561.UG.FTS.B,

29.49%,

3/11/25

..

92‌

95‌

992151581.UG.FTS.B,

29.49%,

3/11/25

..

98‌

102‌

992157316.UG.FTS.B,

29.49%,

3/11/25

..

396‌

409‌

992158017.UG.FTS.B,

29.49%,

3/11/25

..

500‌

516‌

992158330.UG.FTS.B,

29.49%,

3/11/25

..

270‌

279‌

992158535.UG.FTS.B,

29.49%,

3/11/25

..

100‌

103‌

992162324.UG.FTS.B,

29.49%,

3/11/25

..

36‌

37‌

992165364.UG.FTS.B,

29.49%,

3/11/25

..

61‌

63‌

992166571.UG.FTS.B,

29.49%,

3/11/25

..

15‌

15‌

992169027.UG.FTS.B,

29.49%,

3/11/25

..

352‌

359‌

992170616.UG.FTS.B,

29.49%,

3/11/25

..

400‌

408‌

992172061.UG.FTS.B,

29.49%,

3/11/25

..

203‌

207‌

992172288.UG.FTS.B,

29.49%,

3/11/25

..

29‌

29‌

992174880.UG.FTS.B,

29.49%,

3/11/25

..

16‌

16‌

992175864.UG.FTS.B,

29.49%,

3/11/25

..

71‌

73‌

992175925.UG.FTS.B,

29.49%,

3/11/25

..

40‌

41‌

992176883.UG.FTS.B,

29.49%,

3/11/25

..

403‌

411‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

67

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

UGCard

(continued)

992179156.UG.FTS.B,

29.49%,

3/11/25

..

$

89‌

$

92‌

992179823.UG.FTS.B,

29.49%,

3/11/25

..

339‌

345‌

992184768.UG.FTS.B,

29.49%,

3/11/25

..

20‌

21‌

992186386.UG.FTS.B,

29.49%,

3/11/25

..

500‌

510‌

992186812.UG.FTS.B,

29.49%,

3/11/25

..

38‌

39‌

992188521.UG.FTS.B,

29.49%,

3/11/25

..

460‌

469‌

992192182.UG.FTS.B,

29.49%,

3/11/25

..

324‌

330‌

992195040.UG.FTS.B,

29.49%,

3/11/25

..

164‌

167‌

992196015.UG.FTS.B,

29.49%,

3/11/25

..

3,540‌

3,567‌

992202400.UG.FTS.B,

29.49%,

3/11/25

..

191‌

194‌

992203606.UG.FTS.B,

29.49%,

3/11/25

..

216‌

219‌

992208434.UG.FTS.B,

29.49%,

3/11/25

..

129‌

131‌

992217449.UG.FTS.B,

29.49%,

3/11/25

..

150‌

152‌

992217583.UG.FTS.B,

29.49%,

3/11/25

..

194‌

200‌

992217835.UG.FTS.B,

29.49%,

3/11/25

..

300‌

306‌

992217989.UG.FTS.B,

29.49%,

3/11/25

..

2,800‌

2,855‌

992225112.UG.FTS.B,

29.49%,

3/11/25

..

1,270‌

1,304‌

992225353.UG.FTS.B,

29.49%,

3/11/25

..

1,000‌

1,022‌

992228990.UG.FTS.B,

29.49%,

3/11/25

..

325‌

332‌

992231055.UG.FTS.B,

29.49%,

3/11/25

..

30‌

31‌

992231517.UG.FTS.B,

29.49%,

3/11/25

..

25‌

26‌

992234112.UG.FTS.B,

29.49%,

3/11/25

..

62‌

64‌

992234365.UG.FTS.B,

29.49%,

3/11/25

..

196‌

200‌

992235755.UG.FTS.B,

29.49%,

3/11/25

..

253‌

258‌

992235769.UG.FTS.B,

29.49%,

3/11/25

..

159‌

162‌

992237182.UG.FTS.B,

29.49%,

3/11/25

..

15‌

15‌

992237768.UG.FTS.B,

29.49%,

3/11/25

..

100‌

101‌

992237775.UG.FTS.B,

29.49%,

3/11/25

..

1,657‌

1,695‌

992238243.UG.FTS.B,

29.49%,

3/11/25

..

1,894‌

1,926‌

992242925.UG.FTS.B,

29.49%,

3/11/25

..

123‌

125‌

992243350.UG.FTS.B,

29.49%,

3/11/25

..

24‌

24‌

992244825.UG.FTS.B,

29.49%,

3/11/25

..

10‌

10‌

992245901.UG.FTS.B,

29.49%,

3/11/25

..

20‌

20‌

992246111.UG.FTS.B,

29.49%,

3/11/25

...

46‌

47‌

992247944.UG.FTS.B,

29.49%,

3/11/25

..

200‌

204‌

992248004.UG.FTS.B,

29.49%,

3/11/25

..

1,500‌

1,532‌

991985234.UG.FTS.B,

Zero

Cpn,

3/12/25

.

530‌

37‌

991974684.UG.FTS.B,

19.99%,

3/12/25

..

180‌

186‌

991975946.UG.FTS.B,

19.99%,

3/12/25

..

2,464‌

2,536‌

991977315.UG.FTS.B,

19.99%,

3/12/25

..

30‌

30‌

991978056.UG.FTS.B,

19.99%,

3/12/25

..

39‌

40‌

991979255.UG.FTS.B,

19.99%,

3/12/25

..

46‌

47‌

991980205.UG.FTS.B,

19.99%,

3/12/25

..

47‌

49‌

991980323.UG.FTS.B,

19.99%,

3/12/25

..

40‌

41‌

991982156.UG.FTS.B,

19.99%,

3/12/25

..

328‌

340‌

991984521.UG.FTS.B,

19.99%,

3/12/25

..

833‌

861‌

991986121.UG.FTS.B,

19.99%,

3/12/25

..

2,112‌

2,185‌

991986579.UG.FTS.B,

19.99%,

3/12/25

..

3,047‌

3,116‌

991987773.UG.FTS.B,

19.99%,

3/12/25

..

5,022‌

5,195‌

991988002.UG.FTS.B,

19.99%,

3/12/25

..

1,390‌

1,438‌

991990312.UG.FTS.B,

19.99%,

3/12/25

..

1,895‌

1,960‌

991990562.UG.FTS.B,

19.99%,

3/12/25

..

301‌

311‌

991991077.UG.FTS.B,

19.99%,

3/12/25

..

154‌

159‌

991991922.UG.FTS.B,

19.99%,

3/12/25

..

510‌

522‌

991992249.UG.FTS.B,

19.99%,

3/12/25

..

4,211‌

4,356‌

991993356.UG.FTS.B,

19.99%,

3/12/25

..

3,547‌

3,627‌

991993747.UG.FTS.B,

19.99%,

3/12/25

..

250‌

259‌

991996094.UG.FTS.B,

19.99%,

3/12/25

..

373‌

386‌

Description

Principal

Amount

Value

UGCard

(continued)

991998238.UG.FTS.B,

19.99%,

3/12/25

..

$

5,813‌

$

6,014‌

991999661.UG.FTS.B,

19.99%,

3/12/25

..

641‌

663‌

992003634.UG.FTS.B,

19.99%,

3/12/25

..

150‌

155‌

992005242.UG.FTS.B,

19.99%,

3/12/25

..

396‌

409‌

992005754.UG.FTS.B,

19.99%,

3/12/25

..

660‌

672‌

992005775.UG.FTS.B,

19.99%,

3/12/25

..

114‌

118‌

992005951.UG.FTS.B,

19.99%,

3/12/25

..

1,141‌

1,181‌

992016733.UG.FTS.B,

19.99%,

3/12/25

..

127‌

131‌

992017079.UG.FTS.B,

19.99%,

3/12/25

..

157‌

163‌

992018014.UG.FTS.B,

19.99%,

3/12/25

..

124‌

129‌

992023200.UG.FTS.B,

19.99%,

3/12/25

..

600‌

621‌

992023618.UG.FTS.B,

19.99%,

3/12/25

..

18‌

19‌

992027150.UG.FTS.B,

19.99%,

3/12/25

..

596‌

607‌

992027504.UG.FTS.B,

19.99%,

3/12/25

..

79‌

82‌

992043802.UG.FTS.B,

19.99%,

3/12/25

..

458‌

462‌

992050710.UG.FTS.B,

19.99%,

3/12/25

..

29‌

29‌

992052864.UG.FTS.B,

19.99%,

3/12/25

..

973‌

1,007‌

992053591.UG.FTS.B,

19.99%,

3/12/25

..

111‌

115‌

992059413.UG.FTS.B,

19.99%,

3/12/25

..

134‌

137‌

992059475.UG.FTS.B,

19.99%,

3/12/25

..

434‌

449‌

992071067.UG.FTS.B,

19.99%,

3/12/25

..

84‌

87‌

992074963.UG.FTS.B,

19.99%,

3/12/25

..

152‌

157‌

992077414.UG.FTS.B,

19.99%,

3/12/25

..

5‌

5‌

992081055.UG.FTS.B,

19.99%,

3/12/25

..

114‌

118‌

992082723.UG.FTS.B,

19.99%,

3/12/25

..

11‌

11‌

992084409.UG.FTS.B,

19.99%,

3/12/25

..

83‌

86‌

992090984.UG.FTS.B,

19.99%,

3/12/25

..

1,000‌

1,034‌

992095654.UG.FTS.B,

19.99%,

3/12/25

..

206‌

213‌

992099965.UG.FTS.B,

19.99%,

3/12/25

..

38‌

40‌

992101937.UG.FTS.B,

19.99%,

3/12/25

..

97‌

100‌

992110841.UG.FTS.B,

19.99%,

3/12/25

..

1,438‌

1,486‌

992113420.UG.FTS.B,

19.99%,

3/12/25

..

267‌

276‌

992117451.UG.FTS.B,

19.99%,

3/12/25

..

135‌

140‌

992117671.UG.FTS.B,

19.99%,

3/12/25

..

703‌

719‌

992119484.UG.FTS.B,

19.99%,

3/12/25

..

1,000‌

1,034‌

992130639.UG.FTS.B,

19.99%,

3/12/25

..

53‌

55‌

992138207.UG.FTS.B,

19.99%,

3/12/25

..

81‌

84‌

992145911.UG.FTS.B,

19.99%,

3/12/25

..

89‌

92‌

992160360.UG.FTS.B,

19.99%,

3/12/25

..

70‌

72‌

992173048.UG.FTS.B,

19.99%,

3/12/25

..

40‌

41‌

992177562.UG.FTS.B,

19.99%,

3/12/25

..

2,300‌

2,379‌

992182530.UG.FTS.B,

19.99%,

3/12/25

..

332‌

343‌

992185573.UG.FTS.B,

19.99%,

3/12/25

..

600‌

621‌

992189890.UG.FTS.B,

19.99%,

3/12/25

..

200‌

205‌

992195358.UG.FTS.B,

19.99%,

3/12/25

..

41‌

42‌

992196780.UG.FTS.B,

19.99%,

3/12/25

..

328‌

335‌

992213000.UG.FTS.B,

19.99%,

3/12/25

..

156‌

158‌

992226748.UG.FTS.B,

19.99%,

3/12/25

..

29‌

30‌

992233914.UG.FTS.B,

19.99%,

3/12/25

..

63‌

65‌

992238254.UG.FTS.B,

19.99%,

3/12/25

..

650‌

665‌

992250535.UG.FTS.B,

19.99%,

3/12/25

..

119‌

123‌

991984392.UG.FTS.B,

25.94%,

3/12/25

..

4,000‌

4,136‌

992007306.UG.FTS.B,

25.94%,

3/12/25

..

34‌

35‌

991990658.UG.FTS.B,

25.95%,

3/12/25

..

1,976‌

2,043‌

991994071.UG.FTS.B,

25.95%,

3/12/25

..

3,000‌

3,096‌

991994884.UG.FTS.B,

25.95%,

3/12/25

..

7,500‌

7,755‌

991995347.UG.FTS.B,

25.95%,

3/12/25

..

1,500‌

1,551‌

992012886.UG.FTS.B,

25.95%,

3/12/25

..

16‌

16‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

68

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

UGCard

(continued)

991987286.UG.FTS.B,

26.94%,

3/12/25

..

$

1,539‌

$

1,591‌

991991318.UG.FTS.B,

26.94%,

3/12/25

..

100‌

103‌

991991921.UG.FTS.B,

26.94%,

3/12/25

..

119‌

123‌

991993934.UG.FTS.B,

26.94%,

3/12/25

..

2,000‌

2,068‌

991995259.UG.FTS.B,

26.94%,

3/12/25

..

2,750‌

2,843‌

991995361.UG.FTS.B,

26.94%,

3/12/25

..

2,500‌

2,585‌

991995390.UG.FTS.B,

26.94%,

3/12/25

..

1,500‌

1,551‌

991995550.UG.FTS.B,

26.94%,

3/12/25

..

2,000‌

2,068‌

992031773.UG.FTS.B,

26.94%,

3/12/25

..

743‌

759‌

992069949.UG.FTS.B,

26.94%,

3/12/25

..

162‌

168‌

992162223.UG.FTS.B,

26.94%,

3/12/25

..

495‌

512‌

992166194.UG.FTS.B,

26.94%,

3/12/25

..

75‌

77‌

992178958.UG.FTS.B,

26.94%,

3/12/25

..

7‌

7‌

992203375.UG.FTS.B,

26.94%,

3/12/25

..

49‌

50‌

991990538.UG.FTS.B,

27.95%,

3/12/25

..

188‌

194‌

992053902.UG.FTS.B,

27.95%,

3/12/25

..

100‌

103‌

992077155.UG.FTS.B,

27.95%,

3/12/25

..

30‌

31‌

992216086.UG.FTS.B,

27.95%,

3/12/25

..

134‌

137‌

991993911.UG.FTS.B,

27.99%,

3/12/25

..

63‌

65‌

992136306.UG.FTS.B,

27.99%,

3/12/25

..

108‌

112‌

991976862.UG.FTS.B,

28.98%,

3/12/25

..

1,081‌

1,118‌

991977041.UG.FTS.B,

28.98%,

3/12/25

..

1,271‌

1,311‌

991977070.UG.FTS.B,

28.98%,

3/12/25

..

71‌

73‌

991977162.UG.FTS.B,

28.98%,

3/12/25

..

242‌

251‌

991977163.UG.FTS.B,

28.98%,

3/12/25

..

127‌

132‌

991977655.UG.FTS.B,

28.98%,

3/12/25

..

99‌

103‌

991977693.UG.FTS.B,

28.98%,

3/12/25

..

1,061‌

1,097‌

991977711.UG.FTS.B,

28.98%,

3/12/25

..

957‌

986‌

991977961.UG.FTS.B,

28.98%,

3/12/25

..

40‌

41‌

991978065.UG.FTS.B,

28.98%,

3/12/25

..

106‌

109‌

991978247.UG.FTS.B,

28.98%,

3/12/25

..

245‌

253‌

991978352.UG.FTS.B,

28.98%,

3/12/25

..

94‌

97‌

991978502.UG.FTS.B,

28.98%,

3/12/25

..

442‌

457‌

991978896.UG.FTS.B,

28.98%,

3/12/25

..

1,264‌

1,306‌

991979022.UG.FTS.B,

28.98%,

3/12/25

..

418‌

422‌

991979164.UG.FTS.B,

28.98%,

3/12/25

..

836‌

865‌

991979861.UG.FTS.B,

28.98%,

3/12/25

..

132‌

137‌

991979961.UG.FTS.B,

28.98%,

3/12/25

..

187‌

194‌

991980319.UG.FTS.B,

28.98%,

3/12/25

..

20‌

20‌

991980708.UG.FTS.B,

28.98%,

3/12/25

..

809‌

827‌

991980960.UG.FTS.B,

28.98%,

3/12/25

..

6‌

6‌

991981222.UG.FTS.B,

28.98%,

3/12/25

..

1,789‌

1,850‌

991981613.UG.FTS.B,

28.98%,

3/12/25

..

352‌

360‌

991982221.UG.FTS.B,

28.98%,

3/12/25

..

625‌

647‌

991982496.UG.FTS.B,

28.98%,

3/12/25

..

289‌

299‌

991982730.UG.FTS.B,

28.98%,

3/12/25

..

14‌

14‌

991983377.UG.FTS.B,

28.98%,

3/12/25

..

823‌

851‌

991983957.UG.FTS.B,

28.98%,

3/12/25

..

40‌

41‌

991984189.UG.FTS.B,

28.98%,

3/12/25

..

347‌

358‌

991985750.UG.FTS.B,

28.98%,

3/12/25

..

1,485‌

1,535‌

991986090.UG.FTS.B,

28.98%,

3/12/25

..

1,295‌

1,339‌

991986548.UG.FTS.B,

28.98%,

3/12/25

..

12‌

12‌

991986556.UG.FTS.B,

28.98%,

3/12/25

..

660‌

682‌

991986963.UG.FTS.B,

28.98%,

3/12/25

..

2,588‌

2,675‌

991986986.UG.FTS.B,

28.98%,

3/12/25

..

5,021‌

5,176‌

991987046.UG.FTS.B,

28.98%,

3/12/25

..

279‌

288‌

991987070.UG.FTS.B,

28.98%,

3/12/25

..

1,051‌

1,086‌

991987374.UG.FTS.B,

28.98%,

3/12/25

..

82‌

84‌

Description

Principal

Amount

Value

UGCard

(continued)

991987508.UG.FTS.B,

28.98%,

3/12/25

..

$

265‌

$

272‌

991987684.UG.FTS.B,

28.98%,

3/12/25

..

8,499‌

8,786‌

991987883.UG.FTS.B,

28.98%,

3/12/25

..

446‌

457‌

991987890.UG.FTS.B,

28.98%,

3/12/25

..

275‌

284‌

991988065.UG.FTS.B,

28.98%,

3/12/25

..

566‌

586‌

991988114.UG.FTS.B,

28.98%,

3/12/25

..

3,725‌

3,809‌

991988116.UG.FTS.B,

28.98%,

3/12/25

..

125‌

129‌

991988142.UG.FTS.B,

28.98%,

3/12/25

..

20‌

21‌

991988242.UG.FTS.B,

28.98%,

3/12/25

..

1,355‌

1,398‌

991988368.UG.FTS.B,

28.98%,

3/12/25

..

84‌

87‌

991988614.UG.FTS.B,

28.98%,

3/12/25

..

126‌

130‌

991988716.UG.FTS.B,

28.98%,

3/12/25

..

162‌

167‌

991989012.UG.FTS.B,

28.98%,

3/12/25

..

1,029‌

1,064‌

991989204.UG.FTS.B,

28.98%,

3/12/25

..

174‌

180‌

991989725.UG.FTS.B,

28.98%,

3/12/25

..

571‌

583‌

991990452.UG.FTS.B,

28.98%,

3/12/25

..

25‌

26‌

991990882.UG.FTS.B,

28.98%,

3/12/25

..

1,275‌

1,301‌

991990987.UG.FTS.B,

28.98%,

3/12/25

..

1,437‌

1,485‌

991991221.UG.FTS.B,

28.98%,

3/12/25

..

325‌

336‌

991991251.UG.FTS.B,

28.98%,

3/12/25

..

232‌

240‌

991991626.UG.FTS.B,

28.98%,

3/12/25

..

2,248‌

2,324‌

991991706.UG.FTS.B,

28.98%,

3/12/25

..

823‌

850‌

991991798.UG.FTS.B,

28.98%,

3/12/25

..

738‌

763‌

991992424.UG.FTS.B,

28.98%,

3/12/25

..

416‌

429‌

991992465.UG.FTS.B,

28.98%,

3/12/25

..

1,029‌

1,063‌

991992864.UG.FTS.B,

28.98%,

3/12/25

..

656‌

670‌

991992907.UG.FTS.B,

28.98%,

3/12/25

..

1,852‌

1,915‌

991992926.UG.FTS.B,

28.98%,

3/12/25

..

500‌

517‌

991992965.UG.FTS.B,

28.98%,

3/12/25

..

928‌

960‌

991992992.UG.FTS.B,

28.98%,

3/12/25

..

448‌

453‌

991993120.UG.FTS.B,

28.98%,

3/12/25

..

126‌

131‌

991993141.UG.FTS.B,

28.98%,

3/12/25

..

1,155‌

1,194‌

991993410.UG.FTS.B,

28.98%,

3/12/25

..

1,149‌

1,188‌

991993425.UG.FTS.B,

28.98%,

3/12/25

..

1,722‌

1,780‌

991993594.UG.FTS.B,

28.98%,

3/12/25

..

44‌

45‌

991993801.UG.FTS.B,

28.98%,

3/12/25

..

111‌

113‌

991993852.UG.FTS.B,

28.98%,

3/12/25

..

10,000‌

10,338‌

991993983.UG.FTS.B,

28.98%,

3/12/25

..

2,000‌

2,067‌

991994024.UG.FTS.B,

28.98%,

3/12/25

..

5,500‌

5,686‌

991994272.UG.FTS.B,

28.98%,

3/12/25

..

1,500‌

1,551‌

991994281.UG.FTS.B,

28.98%,

3/12/25

..

2,355‌

2,434‌

991994329.UG.FTS.B,

28.98%,

3/12/25

..

1,642‌

1,692‌

991994349.UG.FTS.B,

28.98%,

3/12/25

..

130‌

27‌

991994702.UG.FTS.B,

28.98%,

3/12/25

..

1,000‌

1,034‌

991994726.UG.FTS.B,

28.98%,

3/12/25

..

1,100‌

1,137‌

991994810.UG.FTS.B,

28.98%,

3/12/25

..

2,100‌

2,171‌

991994833.UG.FTS.B,

28.98%,

3/12/25

..

5,000‌

5,169‌

991994842.UG.FTS.B,

28.98%,

3/12/25

..

3,750‌

3,877‌

991994997.UG.FTS.B,

28.98%,

3/12/25

..

2,152‌

2,225‌

991995038.UG.FTS.B,

28.98%,

3/12/25

..

2,000‌

2,068‌

991995066.UG.FTS.B,

28.98%,

3/12/25

..

3,000‌

3,101‌

991995089.UG.FTS.B,

28.98%,

3/12/25

..

2,500‌

2,584‌

991995177.UG.FTS.B,

28.98%,

3/12/25

..

3,000‌

3,101‌

991995235.UG.FTS.B,

28.98%,

3/12/25

..

840‌

868‌

991996150.UG.FTS.B,

28.98%,

3/12/25

..

882‌

912‌

991996974.UG.FTS.B,

28.98%,

3/12/25

..

265‌

274‌

991997062.UG.FTS.B,

28.98%,

3/12/25

..

101‌

104‌

991997092.UG.FTS.B,

28.98%,

3/12/25

..

1,830‌

1,892‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

69

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

UGCard

(continued)

991997877.UG.FTS.B,

28.98%,

3/12/25

..

$

51‌

$

53‌

991998105.UG.FTS.B,

28.98%,

3/12/25

..

300‌

310‌

991998617.UG.FTS.B,

28.98%,

3/12/25

..

41‌

43‌

991998887.UG.FTS.B,

28.98%,

3/12/25

..

728‌

742‌

991999636.UG.FTS.B,

28.98%,

3/12/25

..

90‌

93‌

991999905.UG.FTS.B,

28.98%,

3/12/25

..

368‌

77‌

991999929.UG.FTS.B,

28.98%,

3/12/25

..

449‌

463‌

992001162.UG.FTS.B,

28.98%,

3/12/25

..

1,153‌

1,192‌

992002963.UG.FTS.B,

28.98%,

3/12/25

..

1,500‌

1,551‌

992002976.UG.FTS.B,

28.98%,

3/12/25

..

500‌

517‌

992004292.UG.FTS.B,

28.98%,

3/12/25

..

6,000‌

6,203‌

992007915.UG.FTS.B,

28.98%,

3/12/25

..

160‌

165‌

992008069.UG.FTS.B,

28.98%,

3/12/25

..

34‌

35‌

992009447.UG.FTS.B,

28.98%,

3/12/25

..

338‌

349‌

992009962.UG.FTS.B,

28.98%,

3/12/25

..

520‌

538‌

992010418.UG.FTS.B,

28.98%,

3/12/25

..

9‌

9‌

992010449.UG.FTS.B,

28.98%,

3/12/25

..

354‌

366‌

992010746.UG.FTS.B,

28.98%,

3/12/25

..

83‌

20‌

992010868.UG.FTS.B,

28.98%,

3/12/25

..

127‌

131‌

992010964.UG.FTS.B,

28.98%,

3/12/25

..

515‌

532‌

992011295.UG.FTS.B,

28.98%,

3/12/25

..

164‌

168‌

992011988.UG.FTS.B,

28.98%,

3/12/25

..

81‌

84‌

992012254.UG.FTS.B,

28.98%,

3/12/25

..

522‌

526‌

992012310.UG.FTS.B,

28.98%,

3/12/25

..

542‌

556‌

992013872.UG.FTS.B,

28.98%,

3/12/25

..

110‌

114‌

992014018.UG.FTS.B,

28.98%,

3/12/25

..

146‌

150‌

992014247.UG.FTS.B,

28.98%,

3/12/25

..

138‌

142‌

992014356.UG.FTS.B,

28.98%,

3/12/25

..

1,220‌

1,261‌

992014653.UG.FTS.B,

28.98%,

3/12/25

..

261‌

270‌

992015010.UG.FTS.B,

28.98%,

3/12/25

..

530‌

548‌

992015058.UG.FTS.B,

28.98%,

3/12/25

..

402‌

411‌

992015249.UG.FTS.B,

28.98%,

3/12/25

..

70‌

72‌

992015656.UG.FTS.B,

28.98%,

3/12/25

..

9‌

9‌

992016117.UG.FTS.B,

28.98%,

3/12/25

..

346‌

357‌

992018102.UG.FTS.B,

28.98%,

3/12/25

..

273‌

282‌

992018880.UG.FTS.B,

28.98%,

3/12/25

..

8‌

4‌

992021489.UG.FTS.B,

28.98%,

3/12/25

..

206‌

213‌

992021973.UG.FTS.B,

28.98%,

3/12/25

..

4,639‌

4,796‌

992024002.UG.FTS.B,

28.98%,

3/12/25

..

60‌

62‌

992024306.UG.FTS.B,

28.98%,

3/12/25

..

452‌

467‌

992024617.UG.FTS.B,

28.98%,

3/12/25

..

76‌

78‌

992028613.UG.FTS.B,

28.98%,

3/12/25

..

234‌

49‌

992030321.UG.FTS.B,

28.98%,

3/12/25

..

62‌

64‌

992030698.UG.FTS.B,

28.98%,

3/12/25

..

3,248‌

3,358‌

992030812.UG.FTS.B,

28.98%,

3/12/25

..

79‌

80‌

992030827.UG.FTS.B,

28.98%,

3/12/25

..

25‌

26‌

992033191.UG.FTS.B,

28.98%,

3/12/25

..

438‌

453‌

992034556.UG.FTS.B,

28.98%,

3/12/25

..

728‌

753‌

992037362.UG.FTS.B,

28.98%,

3/12/25

..

125‌

127‌

992038832.UG.FTS.B,

28.98%,

3/12/25

..

1,200‌

1,241‌

992038877.UG.FTS.B,

28.98%,

3/12/25

..

2,000‌

2,068‌

992039233.UG.FTS.B,

28.98%,

3/12/25

..

400‌

414‌

992039680.UG.FTS.B,

28.98%,

3/12/25

..

138‌

143‌

992040671.UG.FTS.B,

28.98%,

3/12/25

..

348‌

359‌

992041306.UG.FTS.B,

28.98%,

3/12/25

..

46‌

48‌

992044157.UG.FTS.B,

28.98%,

3/12/25

..

597‌

617‌

992044261.UG.FTS.B,

28.98%,

3/12/25

..

125‌

129‌

992044384.UG.FTS.B,

28.98%,

3/12/25

..

46‌

48‌

Description

Principal

Amount

Value

UGCard

(continued)

992044480.UG.FTS.B,

28.98%,

3/12/25

..

$

518‌

$

536‌

992044551.UG.FTS.B,

28.98%,

3/12/25

..

725‌

740‌

992044814.UG.FTS.B,

28.98%,

3/12/25

..

1,251‌

1,290‌

992045450.UG.FTS.B,

28.98%,

3/12/25

..

423‌

438‌

992045487.UG.FTS.B,

28.98%,

3/12/25

..

584‌

603‌

992047191.UG.FTS.B,

28.98%,

3/12/25

..

1,900‌

1,964‌

992048204.UG.FTS.B,

28.98%,

3/12/25

..

209‌

216‌

992048689.UG.FTS.B,

28.98%,

3/12/25

..

700‌

724‌

992050136.UG.FTS.B,

28.98%,

3/12/25

..

136‌

141‌

992051674.UG.FTS.B,

28.98%,

3/12/25

..

50‌

51‌

992051684.UG.FTS.B,

28.98%,

3/12/25

..

370‌

382‌

992053369.UG.FTS.B,

28.98%,

3/12/25

..

241‌

249‌

992054522.UG.FTS.B,

28.98%,

3/12/25

..

623‌

645‌

992054695.UG.FTS.B,

28.98%,

3/12/25

..

113‌

117‌

992055181.UG.FTS.B,

28.98%,

3/12/25

..

162‌

167‌

992055434.UG.FTS.B,

28.98%,

3/12/25

..

886‌

916‌

992055703.UG.FTS.B,

28.98%,

3/12/25

..

176‌

179‌

992056835.UG.FTS.B,

28.98%,

3/12/25

..

499‌

516‌

992060145.UG.FTS.B,

28.98%,

3/12/25

..

218‌

225‌

992061487.UG.FTS.B,

28.98%,

3/12/25

..

75‌

77‌

992061641.UG.FTS.B,

28.98%,

3/12/25

..

142‌

147‌

992061787.UG.FTS.B,

28.98%,

3/12/25

..

173‌

179‌

992064058.UG.FTS.B,

28.98%,

3/12/25

..

111‌

114‌

992065606.UG.FTS.B,

28.98%,

3/12/25

..

69‌

71‌

992066909.UG.FTS.B,

28.98%,

3/12/25

..

450‌

459‌

992069346.UG.FTS.B,

28.98%,

3/12/25

..

145‌

150‌

992071635.UG.FTS.B,

28.98%,

3/12/25

..

414‌

423‌

992071679.UG.FTS.B,

28.98%,

3/12/25

..

407‌

421‌

992072262.UG.FTS.B,

28.98%,

3/12/25

..

2,542‌

2,598‌

992072402.UG.FTS.B,

28.98%,

3/12/25

..

53‌

54‌

992072527.UG.FTS.B,

28.98%,

3/12/25

..

116‌

120‌

992072825.UG.FTS.B,

28.98%,

3/12/25

..

135‌

140‌

992073366.UG.FTS.B,

28.98%,

3/12/25

..

196‌

202‌

992074304.UG.FTS.B,

28.98%,

3/12/25

..

126‌

130‌

992074861.UG.FTS.B,

28.98%,

3/12/25

..

41‌

42‌

992079466.UG.FTS.B,

28.98%,

3/12/25

..

411‌

420‌

992079621.UG.FTS.B,

28.98%,

3/12/25

..

337‌

348‌

992080046.UG.FTS.B,

28.98%,

3/12/25

..

605‌

621‌

992082052.UG.FTS.B,

28.98%,

3/12/25

..

82‌

85‌

992083442.UG.FTS.B,

28.98%,

3/12/25

..

110‌

112‌

992085451.UG.FTS.B,

28.98%,

3/12/25

..

34‌

35‌

992086185.UG.FTS.B,

28.98%,

3/12/25

..

107‌

110‌

992087850.UG.FTS.B,

28.98%,

3/12/25

..

263‌

272‌

992087976.UG.FTS.B,

28.98%,

3/12/25

..

93‌

96‌

992088786.UG.FTS.B,

28.98%,

3/12/25

..

185‌

192‌

992089048.UG.FTS.B,

28.98%,

3/12/25

..

236‌

244‌

992090336.UG.FTS.B,

28.98%,

3/12/25

..

400‌

408‌

992090588.UG.FTS.B,

28.98%,

3/12/25

..

1,000‌

1,034‌

992091160.UG.FTS.B,

28.98%,

3/12/25

..

390‌

403‌

992093436.UG.FTS.B,

28.98%,

3/12/25

..

700‌

724‌

992094412.UG.FTS.B,

28.98%,

3/12/25

..

99‌

102‌

992094662.UG.FTS.B,

28.98%,

3/12/25

..

103‌

106‌

992094777.UG.FTS.B,

28.98%,

3/12/25

..

75‌

77‌

992097817.UG.FTS.B,

28.98%,

3/12/25

..

225‌

232‌

992099219.UG.FTS.B,

28.98%,

3/12/25

..

142‌

147‌

992099317.UG.FTS.B,

28.98%,

3/12/25

..

40‌

41‌

992100185.UG.FTS.B,

28.98%,

3/12/25

..

2,934‌

3,026‌

992100442.UG.FTS.B,

28.98%,

3/12/25

..

178‌

184‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

70

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

UGCard

(continued)

992107445.UG.FTS.B,

28.98%,

3/12/25

..

$

95‌

$

96‌

992108150.UG.FTS.B,

28.98%,

3/12/25

..

34‌

35‌

992109431.UG.FTS.B,

28.98%,

3/12/25

..

79‌

19‌

992110250.UG.FTS.B,

28.98%,

3/12/25

..

300‌

310‌

992110407.UG.FTS.B,

28.98%,

3/12/25

..

874‌

904‌

992111486.UG.FTS.B,

28.98%,

3/12/25

..

13‌

13‌

992112480.UG.FTS.B,

28.98%,

3/12/25

..

600‌

620‌

992112701.UG.FTS.B,

28.98%,

3/12/25

..

100‌

103‌

992112886.UG.FTS.B,

28.98%,

3/12/25

..

258‌

267‌

992113271.UG.FTS.B,

28.98%,

3/12/25

..

750‌

775‌

992114017.UG.FTS.B,

28.98%,

3/12/25

..

52‌

54‌

992115134.UG.FTS.B,

28.98%,

3/12/25

..

20‌

21‌

992116816.UG.FTS.B,

28.98%,

3/12/25

..

44‌

45‌

992117403.UG.FTS.B,

28.98%,

3/12/25

..

5‌

5‌

992117475.UG.FTS.B,

28.98%,

3/12/25

..

79‌

82‌

992119489.UG.FTS.B,

28.98%,

3/12/25

..

456‌

471‌

992120153.UG.FTS.B,

28.98%,

3/12/25

..

1,877‌

1,919‌

992120363.UG.FTS.B,

28.98%,

3/12/25

..

19‌

19‌

992122661.UG.FTS.B,

28.98%,

3/12/25

..

1,000‌

1,034‌

992125121.UG.FTS.B,

28.98%,

3/12/25

..

50‌

50‌

992127605.UG.FTS.B,

28.98%,

3/12/25

..

115‌

119‌

992127800.UG.FTS.B,

28.98%,

3/12/25

..

236‌

243‌

992128185.UG.FTS.B,

28.98%,

3/12/25

..

898‌

929‌

992130880.UG.FTS.B,

28.98%,

3/12/25

..

1,177‌

1,217‌

992133542.UG.FTS.B,

28.98%,

3/12/25

..

534‌

545‌

992134637.UG.FTS.B,

28.98%,

3/12/25

..

128‌

132‌

992134827.UG.FTS.B,

28.98%,

3/12/25

..

178‌

184‌

992135526.UG.FTS.B,

28.98%,

3/12/25

..

1,950‌

1,994‌

992139292.UG.FTS.B,

28.98%,

3/12/25

..

6‌

6‌

992140158.UG.FTS.B,

28.98%,

3/12/25

..

49‌

15‌

992140611.UG.FTS.B,

28.98%,

3/12/25

..

127‌

131‌

992140679.UG.FTS.B,

28.98%,

3/12/25

..

609‌

629‌

992140683.UG.FTS.B,

28.98%,

3/12/25

..

1,369‌

1,409‌

992144339.UG.FTS.B,

28.98%,

3/12/25

..

13‌

13‌

992145400.UG.FTS.B,

28.98%,

3/12/25

..

169‌

175‌

992148985.UG.FTS.B,

28.98%,

3/12/25

..

17‌

17‌

992151456.UG.FTS.B,

28.98%,

3/12/25

..

110‌

113‌

992151766.UG.FTS.B,

28.98%,

3/12/25

..

92‌

94‌

992155285.UG.FTS.B,

28.98%,

3/12/25

..

1,500‌

1,551‌

992157350.UG.FTS.B,

28.98%,

3/12/25

..

300‌

301‌

992162018.UG.FTS.B,

28.98%,

3/12/25

..

117‌

121‌

992166477.UG.FTS.B,

28.98%,

3/12/25

..

600‌

620‌

992166770.UG.FTS.B,

28.98%,

3/12/25

..

500‌

515‌

992167133.UG.FTS.B,

28.98%,

3/12/25

..

1,753‌

1,792‌

992169826.UG.FTS.B,

28.98%,

3/12/25

..

130‌

27‌

992172027.UG.FTS.B,

28.98%,

3/12/25

..

191‌

198‌

992172337.UG.FTS.B,

28.98%,

3/12/25

..

58‌

60‌

992172709.UG.FTS.B,

28.98%,

3/12/25

..

143‌

148‌

992176434.UG.FTS.B,

28.98%,

3/12/25

..

5,000‌

5,170‌

992177142.UG.FTS.B,

28.98%,

3/12/25

..

64‌

67‌

992177356.UG.FTS.B,

28.98%,

3/12/25

..

1,500‌

1,551‌

992178183.UG.FTS.B,

28.98%,

3/12/25

..

109‌

110‌

992189172.UG.FTS.B,

28.98%,

3/12/25

..

2,000‌

2,016‌

992191070.UG.FTS.B,

28.98%,

3/12/25

..

130‌

134‌

992195970.UG.FTS.B,

28.98%,

3/12/25

..

100‌

100‌

992196736.UG.FTS.B,

28.98%,

3/12/25

..

69‌

72‌

992197128.UG.FTS.B,

28.98%,

3/12/25

..

644‌

658‌

992199250.UG.FTS.B,

28.98%,

3/12/25

..

102‌

105‌

Description

Principal

Amount

Value

UGCard

(continued)

992199846.UG.FTS.B,

28.98%,

3/12/25

..

$

11‌

$

11‌

992202133.UG.FTS.B,

28.98%,

3/12/25

..

1,503‌

1,536‌

992202812.UG.FTS.B,

28.98%,

3/12/25

..

106‌

109‌

992204705.UG.FTS.B,

28.98%,

3/12/25

..

340‌

343‌

992211112.UG.FTS.B,

28.98%,

3/12/25

...

15‌

15‌

992214528.UG.FTS.B,

28.98%,

3/12/25

..

39‌

41‌

992217988.UG.FTS.B,

28.98%,

3/12/25

..

1,000‌

1,022‌

992225514.UG.FTS.B,

28.98%,

3/12/25

..

50‌

52‌

992228774.UG.FTS.B,

28.98%,

3/12/25

..

171‌

172‌

992229520.UG.FTS.B,

28.98%,

3/12/25

..

850‌

869‌

992231342.UG.FTS.B,

28.98%,

3/12/25

..

193‌

198‌

992233643.UG.FTS.B,

28.98%,

3/12/25

..

7‌

7‌

992233858.UG.FTS.B,

28.98%,

3/12/25

..

163‌

166‌

992234558.UG.FTS.B,

28.98%,

3/12/25

..

28‌

29‌

992236649.UG.FTS.B,

28.98%,

3/12/25

..

50‌

52‌

992238828.UG.FTS.B,

28.98%,

3/12/25

..

100‌

103‌

992241229.UG.FTS.B,

28.98%,

3/12/25

..

427‌

437‌

992241645.UG.FTS.B,

28.98%,

3/12/25

..

45‌

47‌

992243599.UG.FTS.B,

28.98%,

3/12/25

..

307‌

313‌

992245457.UG.FTS.B,

28.98%,

3/12/25

..

15‌

15‌

992246993.UG.FTS.B,

28.98%,

3/12/25

..

240‌

245‌

992247166.UG.FTS.B,

28.98%,

3/12/25

..

200‌

205‌

992247241.UG.FTS.B,

28.98%,

3/12/25

..

325‌

332‌

992248735.UG.FTS.B,

28.98%,

3/12/25

..

17‌

18‌

992253113.UG.FTS.B,

28.98%,

3/12/25

..

297‌

304‌

992254464.UG.FTS.B,

28.98%,

3/12/25

..

3,000‌

3,027‌

992255823.UG.FTS.B,

28.98%,

3/12/25

..

63‌

65‌

992257331.UG.FTS.B,

28.98%,

3/12/25

..

290‌

296‌

992257542.UG.FTS.B,

28.98%,

3/12/25

..

100‌

103‌

991988026.UG.FTS.B,

29.45%,

3/12/25

..

2,809‌

2,869‌

991989548.UG.FTS.B,

29.45%,

3/12/25

..

926‌

957‌

991990731.UG.FTS.B,

29.45%,

3/12/25

..

4,984‌

5,152‌

991991384.UG.FTS.B,

29.45%,

3/12/25

..

1,634‌

1,689‌

991993130.UG.FTS.B,

29.45%,

3/12/25

..

2,348‌

2,426‌

991993171.UG.FTS.B,

29.45%,

3/12/25

..

83‌

86‌

991993551.UG.FTS.B,

29.45%,

3/12/25

..

1,661‌

1,717‌

991995594.UG.FTS.B,

29.45%,

3/12/25

..

3,100‌

3,204‌

992002877.UG.FTS.B,

29.45%,

3/12/25

..

150‌

155‌

992019426.UG.FTS.B,

29.45%,

3/12/25

..

239‌

246‌

992030038.UG.FTS.B,

29.45%,

3/12/25

..

285‌

295‌

992118524.UG.FTS.B,

29.45%,

3/12/25

..

26‌

26‌

992242239.UG.FTS.B,

29.45%,

3/12/25

..

64‌

66‌

992257231.UG.FTS.B,

29.45%,

3/12/25

..

900‌

920‌

991983091.UG.FTS.B,

29.46%,

3/12/25

..

60‌

62‌

991986129.UG.FTS.B,

29.46%,

3/12/25

..

750‌

775‌

991987939.UG.FTS.B,

29.46%,

3/12/25

..

267‌

276‌

991988804.UG.FTS.B,

29.46%,

3/12/25

..

799‌

825‌

991988951.UG.FTS.B,

29.46%,

3/12/25

..

1,245‌

1,287‌

991989181.UG.FTS.B,

29.46%,

3/12/25

..

96‌

99‌

991989267.UG.FTS.B,

29.46%,

3/12/25

..

2,062‌

2,105‌

991989440.UG.FTS.B,

29.46%,

3/12/25

..

140‌

145‌

991989663.UG.FTS.B,

29.46%,

3/12/25

..

774‌

800‌

991991741.UG.FTS.B,

29.46%,

3/12/25

..

1,554‌

1,605‌

991992238.UG.FTS.B,

29.46%,

3/12/25

..

2,970‌

3,070‌

991992690.UG.FTS.B,

29.46%,

3/12/25

..

922‌

952‌

991994035.UG.FTS.B,

29.46%,

3/12/25

..

2,000‌

2,067‌

991994313.UG.FTS.B,

29.46%,

3/12/25

..

5,000‌

5,166‌

991994335.UG.FTS.B,

29.46%,

3/12/25

..

610‌

630‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

71

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

UGCard

(continued)

991994387.UG.FTS.B,

29.46%,

3/12/25

..

$

2,500‌

$

2,583‌

991994629.UG.FTS.B,

29.46%,

3/12/25

..

2,500‌

2,583‌

991994722.UG.FTS.B,

29.46%,

3/12/25

..

3,900‌

4,030‌

991994954.UG.FTS.B,

29.46%,

3/12/25

..

900‌

930‌

991995113.UG.FTS.B,

29.46%,

3/12/25

..

2,000‌

2,067‌

991995240.UG.FTS.B,

29.46%,

3/12/25

..

1,000‌

1,033‌

991995269.UG.FTS.B,

29.46%,

3/12/25

..

2,000‌

2,067‌

991995313.UG.FTS.B,

29.46%,

3/12/25

..

1,461‌

1,510‌

991995497.UG.FTS.B,

29.46%,

3/12/25

..

1,302‌

1,329‌

992006408.UG.FTS.B,

29.46%,

3/12/25

..

952‌

969‌

992007099.UG.FTS.B,

29.46%,

3/12/25

..

572‌

591‌

992009488.UG.FTS.B,

29.46%,

3/12/25

..

1,501‌

1,551‌

992010675.UG.FTS.B,

29.46%,

3/12/25

..

499‌

516‌

992020783.UG.FTS.B,

29.46%,

3/12/25

..

670‌

682‌

992021547.UG.FTS.B,

29.46%,

3/12/25

..

8‌

8‌

992036017.UG.FTS.B,

29.46%,

3/12/25

..

4,400‌

4,547‌

992040635.UG.FTS.B,

29.46%,

3/12/25

..

365‌

377‌

992089198.UG.FTS.B,

29.46%,

3/12/25

..

128‌

133‌

992089233.UG.FTS.B,

29.46%,

3/12/25

..

1,500‌

1,550‌

992143389.UG.FTS.B,

29.46%,

3/12/25

..

370‌

383‌

992146016.UG.FTS.B,

29.46%,

3/12/25

..

143‌

147‌

992227472.UG.FTS.B,

29.46%,

3/12/25

..

75‌

78‌

992229481.UG.FTS.B,

29.46%,

3/12/25

..

3,661‌

3,752‌

991978424.UG.FTS.B,

29.47%,

3/12/25

..

10‌

10‌

991983296.UG.FTS.B,

29.47%,

3/12/25

..

51‌

52‌

991986763.UG.FTS.B,

29.47%,

3/12/25

..

142‌

145‌

991986997.UG.FTS.B,

29.47%,

3/12/25

..

286‌

288‌

991987051.UG.FTS.B,

29.47%,

3/12/25

..

385‌

398‌

991987054.UG.FTS.B,

29.47%,

3/12/25

..

724‌

748‌

991987096.UG.FTS.B,

29.47%,

3/12/25

..

4,455‌

4,602‌

991987163.UG.FTS.B,

29.47%,

3/12/25

..

1,660‌

1,714‌

991988145.UG.FTS.B,

29.47%,

3/12/25

..

695‌

718‌

991989007.UG.FTS.B,

29.47%,

3/12/25

..

1,724‌

1,782‌

991989928.UG.FTS.B,

29.47%,

3/12/25

..

69‌

72‌

991991654.UG.FTS.B,

29.47%,

3/12/25

..

3,500‌

3,615‌

991993876.UG.FTS.B,

29.47%,

3/12/25

..

5,000‌

5,165‌

991994040.UG.FTS.B,

29.47%,

3/12/25

..

700‌

723‌

991994628.UG.FTS.B,

29.47%,

3/12/25

..

5,000‌

5,165‌

991994798.UG.FTS.B,

29.47%,

3/12/25

..

2,365‌

2,438‌

991995053.UG.FTS.B,

29.47%,

3/12/25

..

648‌

673‌

991995419.UG.FTS.B,

29.47%,

3/12/25

..

200‌

207‌

991995495.UG.FTS.B,

29.47%,

3/12/25

..

919‌

937‌

992025113.UG.FTS.B,

29.47%,

3/12/25

..

421‌

435‌

992042287.UG.FTS.B,

29.47%,

3/12/25

..

259‌

267‌

992055586.UG.FTS.B,

29.47%,

3/12/25

..

90‌

93‌

992059055.UG.FTS.B,

29.47%,

3/12/25

..

723‌

727‌

992066355.UG.FTS.B,

29.47%,

3/12/25

..

259‌

268‌

992072863.UG.FTS.B,

29.47%,

3/12/25

..

70‌

72‌

992147259.UG.FTS.B,

29.47%,

3/12/25

..

58‌

59‌

992173952.UG.FTS.B,

29.47%,

3/12/25

..

967‌

996‌

992175148.UG.FTS.B,

29.47%,

3/12/25

..

45‌

47‌

992197782.UG.FTS.B,

29.47%,

3/12/25

..

55‌

57‌

992209832.UG.FTS.B,

29.47%,

3/12/25

..

61‌

63‌

992231393.UG.FTS.B,

29.47%,

3/12/25

..

103‌

105‌

991987387.UG.FTS.B,

29.48%,

3/12/25

..

2,048‌

2,117‌

991987820.UG.FTS.B,

29.48%,

3/12/25

..

2,432‌

2,512‌

991987928.UG.FTS.B,

29.48%,

3/12/25

..

2,672‌

2,760‌

991990060.UG.FTS.B,

29.48%,

3/12/25

..

1,442‌

1,489‌

Description

Principal

Amount

Value

UGCard

(continued)

991990173.UG.FTS.B,

29.48%,

3/12/25

..

$

1,384‌

$

1,429‌

991990611.UG.FTS.B,

29.48%,

3/12/25

..

1,669‌

1,724‌

991990797.UG.FTS.B,

29.48%,

3/12/25

..

890‌

900‌

991991417.UG.FTS.B,

29.48%,

3/12/25

..

250‌

251‌

991991882.UG.FTS.B,

29.48%,

3/12/25

..

2,088‌

2,157‌

991992437.UG.FTS.B,

29.48%,

3/12/25

..

371‌

383‌

991993286.UG.FTS.B,

29.48%,

3/12/25

..

73‌

75‌

991993671.UG.FTS.B,

29.48%,

3/12/25

..

1,989‌

2,054‌

991993705.UG.FTS.B,

29.48%,

3/12/25

..

69‌

71‌

991993840.UG.FTS.B,

29.48%,

3/12/25

..

1,500‌

1,549‌

991994203.UG.FTS.B,

29.48%,

3/12/25

..

2,894‌

2,990‌

991994403.UG.FTS.B,

29.48%,

3/12/25

..

700‌

723‌

991994783.UG.FTS.B,

29.48%,

3/12/25

..

2,500‌

2,582‌

991994796.UG.FTS.B,

29.48%,

3/12/25

..

454‌

469‌

991994940.UG.FTS.B,

29.48%,

3/12/25

..

1,000‌

1,033‌

991994980.UG.FTS.B,

29.48%,

3/12/25

..

3,141‌

3,244‌

991995247.UG.FTS.B,

29.48%,

3/12/25

..

2,000‌

2,066‌

992060534.UG.FTS.B,

29.48%,

3/12/25

..

582‌

602‌

992060916.UG.FTS.B,

29.48%,

3/12/25

..

72‌

19‌

992100757.UG.FTS.B,

29.48%,

3/12/25

..

392‌

405‌

992133983.UG.FTS.B,

29.48%,

3/12/25

..

392‌

405‌

992148264.UG.FTS.B,

29.48%,

3/12/25

..

41‌

42‌

992184788.UG.FTS.B,

29.48%,

3/12/25

..

1,400‌

1,427‌

991976010.UG.FTS.B,

29.49%,

3/12/25

..

148‌

153‌

991976240.UG.FTS.B,

29.49%,

3/12/25

..

167‌

172‌

991976662.UG.FTS.B,

29.49%,

3/12/25

..

66‌

69‌

991977203.UG.FTS.B,

29.49%,

3/12/25

..

518‌

531‌

991977207.UG.FTS.B,

29.49%,

3/12/25

..

149‌

154‌

991977216.UG.FTS.B,

29.49%,

3/12/25

..

24‌

25‌

991977320.UG.FTS.B,

29.49%,

3/12/25

..

534‌

551‌

991977569.UG.FTS.B,

29.49%,

3/12/25

..

157‌

162‌

991977874.UG.FTS.B,

29.49%,

3/12/25

..

77‌

79‌

991978077.UG.FTS.B,

29.49%,

3/12/25

..

330‌

341‌

991978162.UG.FTS.B,

29.49%,

3/12/25

..

45‌

46‌

991978930.UG.FTS.B,

29.49%,

3/12/25

..

157‌

162‌

991979054.UG.FTS.B,

29.49%,

3/12/25

..

30‌

31‌

991979583.UG.FTS.B,

29.49%,

3/12/25

..

10‌

10‌

991979769.UG.FTS.B,

29.49%,

3/12/25

..

102‌

106‌

991979850.UG.FTS.B,

29.49%,

3/12/25

..

59‌

61‌

991980369.UG.FTS.B,

29.49%,

3/12/25

..

668‌

687‌

991980382.UG.FTS.B,

29.49%,

3/12/25

..

102‌

105‌

991980473.UG.FTS.B,

29.49%,

3/12/25

..

38‌

39‌

991980527.UG.FTS.B,

29.49%,

3/12/25

..

2,154‌

2,225‌

991980595.UG.FTS.B,

29.49%,

3/12/25

..

63‌

65‌

991981036.UG.FTS.B,

29.49%,

3/12/25

..

215‌

222‌

991981213.UG.FTS.B,

29.49%,

3/12/25

..

431‌

445‌

991981590.UG.FTS.B,

29.49%,

3/12/25

..

91‌

94‌

991981751.UG.FTS.B,

29.49%,

3/12/25

..

123‌

127‌

991982540.UG.FTS.B,

29.49%,

3/12/25

..

49‌

50‌

991983424.UG.FTS.B,

29.49%,

3/12/25

..

115‌

118‌

991983427.UG.FTS.B,

29.49%,

3/12/25

..

207‌

213‌

991983750.UG.FTS.B,

29.49%,

3/12/25

..

582‌

602‌

991984461.UG.FTS.B,

29.49%,

3/12/25

..

400‌

413‌

991984558.UG.FTS.B,

29.49%,

3/12/25

..

350‌

362‌

991984892.UG.FTS.B,

29.49%,

3/12/25

..

300‌

310‌

991985846.UG.FTS.B,

29.49%,

3/12/25

..

150‌

32‌

991986150.UG.FTS.B,

29.49%,

3/12/25

..

800‌

826‌

991986491.UG.FTS.B,

29.49%,

3/12/25

..

55‌

57‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

72

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

UGCard

(continued)

991986564.UG.FTS.B,

29.49%,

3/12/25

..

$

286‌

$

295‌

991986875.UG.FTS.B,

29.49%,

3/12/25

..

52‌

53‌

991987141.UG.FTS.B,

29.49%,

3/12/25

..

3,291‌

3,396‌

991987238.UG.FTS.B,

29.49%,

3/12/25

..

138‌

140‌

991987586.UG.FTS.B,

29.49%,

3/12/25

..

96‌

99‌

991987674.UG.FTS.B,

29.49%,

3/12/25

..

1,346‌

1,389‌

991987725.UG.FTS.B,

29.49%,

3/12/25

..

1,520‌

1,569‌

991988086.UG.FTS.B,

29.49%,

3/12/25

..

2,056‌

2,122‌

991988097.UG.FTS.B,

29.49%,

3/12/25

..

47‌

49‌

991988171.UG.FTS.B,

29.49%,

3/12/25

..

1,400‌

1,447‌

991988493.UG.FTS.B,

29.49%,

3/12/25

..

63‌

18‌

991988529.UG.FTS.B,

29.49%,

3/12/25

..

369‌

382‌

991988787.UG.FTS.B,

29.49%,

3/12/25

..

893‌

922‌

991989254.UG.FTS.B,

29.49%,

3/12/25

..

404‌

417‌

991989453.UG.FTS.B,

29.49%,

3/12/25

..

2,018‌

2,084‌

991990366.UG.FTS.B,

29.49%,

3/12/25

..

816‌

839‌

991990855.UG.FTS.B,

29.49%,

3/12/25

..

1,377‌

1,424‌

991990868.UG.FTS.B,

29.49%,

3/12/25

..

2,930‌

3,024‌

991990923.UG.FTS.B,

29.49%,

3/12/25

..

1,024‌

1,058‌

991990989.UG.FTS.B,

29.49%,

3/12/25

..

2,673‌

2,759‌

991991523.UG.FTS.B,

29.49%,

3/12/25

..

1,459‌

1,508‌

991991622.UG.FTS.B,

29.49%,

3/12/25

..

137‌

142‌

991991629.UG.FTS.B,

29.49%,

3/12/25

..

957‌

988‌

991991745.UG.FTS.B,

29.49%,

3/12/25

..

3,790‌

3,911‌

991991876.UG.FTS.B,

29.49%,

3/12/25

..

78‌

80‌

991991963.UG.FTS.B,

29.49%,

3/12/25

..

2,922‌

3,015‌

991991965.UG.FTS.B,

29.49%,

3/12/25

..

397‌

411‌

991992023.UG.FTS.B,

29.49%,

3/12/25

..

712‌

726‌

991992118.UG.FTS.B,

29.49%,

3/12/25

..

432‌

446‌

991992372.UG.FTS.B,

29.49%,

3/12/25

..

5,000‌

5,164‌

991992394.UG.FTS.B,

29.49%,

3/12/25

..

653‌

674‌

991992642.UG.FTS.B,

29.49%,

3/12/25

..

3,822‌

3,944‌

991993104.UG.FTS.B,

29.49%,

3/12/25

..

35‌

36‌

991993288.UG.FTS.B,

29.49%,

3/12/25

..

4,507‌

4,651‌

991993361.UG.FTS.B,

29.49%,

3/12/25

..

3,752‌

3,873‌

991993930.UG.FTS.B,

29.49%,

3/12/25

..

44‌

46‌

991993951.UG.FTS.B,

29.49%,

3/12/25

..

328‌

339‌

991994015.UG.FTS.B,

29.49%,

3/12/25

..

3,500‌

3,612‌

991994026.UG.FTS.B,

29.49%,

3/12/25

..

3,000‌

3,101‌

991994236.UG.FTS.B,

29.49%,

3/12/25

..

1,500‌

1,548‌

991994263.UG.FTS.B,

29.49%,

3/12/25

..

500‌

516‌

991994319.UG.FTS.B,

29.49%,

3/12/25

..

1,775‌

1,832‌

991994330.UG.FTS.B,

29.49%,

3/12/25

..

1,450‌

1,497‌

991994543.UG.FTS.B,

29.49%,

3/12/25

..

3,000‌

3,096‌

991994565.UG.FTS.B,

29.49%,

3/12/25

..

200‌

43‌

991994647.UG.FTS.B,

29.49%,

3/12/25

..

3,500‌

3,612‌

991994648.UG.FTS.B,

29.49%,

3/12/25

..

456‌

471‌

991994814.UG.FTS.B,

29.49%,

3/12/25

..

6,000‌

6,200‌

991994935.UG.FTS.B,

29.49%,

3/12/25

..

630‌

650‌

991995051.UG.FTS.B,

29.49%,

3/12/25

..

2,500‌

2,584‌

991995090.UG.FTS.B,

29.49%,

3/12/25

..

900‌

929‌

991995510.UG.FTS.B,

29.49%,

3/12/25

..

2,000‌

2,064‌

991995575.UG.FTS.B,

29.49%,

3/12/25

..

5,000‌

5,168‌

991995665.UG.FTS.B,

29.49%,

3/12/25

..

427‌

441‌

991996130.UG.FTS.B,

29.49%,

3/12/25

..

28‌

29‌

991996658.UG.FTS.B,

29.49%,

3/12/25

..

1,101‌

1,122‌

991996679.UG.FTS.B,

29.49%,

3/12/25

..

155‌

160‌

991996746.UG.FTS.B,

29.49%,

3/12/25

..

342‌

353‌

Description

Principal

Amount

Value

UGCard

(continued)

991997096.UG.FTS.B,

29.49%,

3/12/25

..

$

86‌

$

88‌

991997278.UG.FTS.B,

29.49%,

3/12/25

..

265‌

273‌

991997361.UG.FTS.B,

29.49%,

3/12/25

..

101‌

105‌

991997363.UG.FTS.B,

29.49%,

3/12/25

..

39‌

40‌

991997503.UG.FTS.B,

29.49%,

3/12/25

..

86‌

89‌

991997790.UG.FTS.B,

29.49%,

3/12/25

..

740‌

762‌

991997988.UG.FTS.B,

29.49%,

3/12/25

..

40‌

41‌

991998113.UG.FTS.B,

29.49%,

3/12/25

..

403‌

416‌

991998853.UG.FTS.B,

29.49%,

3/12/25

..

84‌

87‌

991999326.UG.FTS.B,

29.49%,

3/12/25

..

488‌

499‌

991999938.UG.FTS.B,

29.49%,

3/12/25

..

45‌

46‌

992000377.UG.FTS.B,

29.49%,

3/12/25

..

637‌

658‌

992000397.UG.FTS.B,

29.49%,

3/12/25

..

227‌

234‌

992000795.UG.FTS.B,

29.49%,

3/12/25

..

2,571‌

2,654‌

992001473.UG.FTS.B,

29.49%,

3/12/25

..

32‌

33‌

992001811.UG.FTS.B,

29.49%,

3/12/25

..

173‌

178‌

992002282.UG.FTS.B,

29.49%,

3/12/25

..

87‌

90‌

992002659.UG.FTS.B,

29.49%,

3/12/25

..

1,000‌

1,033‌

992003071.UG.FTS.B,

29.49%,

3/12/25

..

112‌

114‌

992003937.UG.FTS.B,

29.49%,

3/12/25

..

275‌

284‌

992004355.UG.FTS.B,

29.49%,

3/12/25

..

1,500‌

1,548‌

992004995.UG.FTS.B,

29.49%,

3/12/25

..

120‌

124‌

992005240.UG.FTS.B,

29.49%,

3/12/25

..

19‌

20‌

992005877.UG.FTS.B,

29.49%,

3/12/25

..

235‌

236‌

992006770.UG.FTS.B,

29.49%,

3/12/25

..

70‌

72‌

992006831.UG.FTS.B,

29.49%,

3/12/25

..

9‌

9‌

992007355.UG.FTS.B,

29.49%,

3/12/25

..

103‌

106‌

992007425.UG.FTS.B,

29.49%,

3/12/25

..

470‌

479‌

992007757.UG.FTS.B,

29.49%,

3/12/25

..

5,000‌

5,161‌

992007935.UG.FTS.B,

29.49%,

3/12/25

..

193‌

200‌

992008357.UG.FTS.B,

29.49%,

3/12/25

..

168‌

174‌

992008615.UG.FTS.B,

29.49%,

3/12/25

..

11‌

11‌

992008784.UG.FTS.B,

29.49%,

3/12/25

..

574‌

583‌

992008926.UG.FTS.B,

29.49%,

3/12/25

..

821‌

848‌

992009164.UG.FTS.B,

29.49%,

3/12/25

..

2,701‌

2,783‌

992009637.UG.FTS.B,

29.49%,

3/12/25

..

162‌

168‌

992009950.UG.FTS.B,

29.49%,

3/12/25

..

130‌

134‌

992010263.UG.FTS.B,

29.49%,

3/12/25

..

1,433‌

1,455‌

992010439.UG.FTS.B,

29.49%,

3/12/25

..

321‌

332‌

992010952.UG.FTS.B,

29.49%,

3/12/25

..

112‌

116‌

992011206.UG.FTS.B,

29.49%,

3/12/25

..

286‌

296‌

992011292.UG.FTS.B,

29.49%,

3/12/25

..

45‌

46‌

992011375.UG.FTS.B,

29.49%,

3/12/25

..

240‌

247‌

992011579.UG.FTS.B,

29.49%,

3/12/25

..

863‌

882‌

992011909.UG.FTS.B,

29.49%,

3/12/25

..

480‌

490‌

992012279.UG.FTS.B,

29.49%,

3/12/25

..

44‌

45‌

992013075.UG.FTS.B,

29.49%,

3/12/25

..

75‌

77‌

992013223.UG.FTS.B,

29.49%,

3/12/25

..

1,059‌

1,091‌

992013349.UG.FTS.B,

29.49%,

3/12/25

..

72‌

74‌

992013359.UG.FTS.B,

29.49%,

3/12/25

..

908‌

925‌

992013801.UG.FTS.B,

29.49%,

3/12/25

..

423‌

431‌

992015548.UG.FTS.B,

29.49%,

3/12/25

..

51‌

53‌

992016270.UG.FTS.B,

29.49%,

3/12/25

..

15‌

15‌

992018172.UG.FTS.B,

29.49%,

3/12/25

..

1,135‌

1,159‌

992018253.UG.FTS.B,

29.49%,

3/12/25

..

1,651‌

1,707‌

992018709.UG.FTS.B,

29.49%,

3/12/25

..

480‌

495‌

992018718.UG.FTS.B,

29.49%,

3/12/25

..

349‌

355‌

992019142.UG.FTS.B,

29.49%,

3/12/25

..

84‌

87‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

73

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

UGCard

(continued)

992019716.UG.FTS.B,

29.49%,

3/12/25

..

$

119‌

$

123‌

992019809.UG.FTS.B,

29.49%,

3/12/25

..

45‌

46‌

992020114.UG.FTS.B,

29.49%,

3/12/25

..

135‌

139‌

992020255.UG.FTS.B,

29.49%,

3/12/25

..

30‌

31‌

992021257.UG.FTS.B,

29.49%,

3/12/25

..

835‌

862‌

992021690.UG.FTS.B,

29.49%,

3/12/25

..

469‌

485‌

992021807.UG.FTS.B,

29.49%,

3/12/25

..

15‌

15‌

992022552.UG.FTS.B,

29.49%,

3/12/25

..

165‌

171‌

992022997.UG.FTS.B,

29.49%,

3/12/25

..

113‌

116‌

992024088.UG.FTS.B,

29.49%,

3/12/25

..

645‌

659‌

992024253.UG.FTS.B,

29.49%,

3/12/25

..

547‌

116‌

992025016.UG.FTS.B,

29.49%,

3/12/25

..

891‌

903‌

992025053.UG.FTS.B,

29.49%,

3/12/25

..

133‌

137‌

992025078.UG.FTS.B,

29.49%,

3/12/25

..

62‌

64‌

992025128.UG.FTS.B,

29.49%,

3/12/25

..

540‌

558‌

992025755.UG.FTS.B,

29.49%,

3/12/25

..

195‌

202‌

992025987.UG.FTS.B,

29.49%,

3/12/25

..

191‌

197‌

992028081.UG.FTS.B,

29.49%,

3/12/25

..

30‌

31‌

992028970.UG.FTS.B,

29.49%,

3/12/25

..

396‌

408‌

992029034.UG.FTS.B,

29.49%,

3/12/25

..

95‌

98‌

992029691.UG.FTS.B,

29.49%,

3/12/25

..

36‌

37‌

992029765.UG.FTS.B,

29.49%,

3/12/25

..

11‌

12‌

992030536.UG.FTS.B,

29.49%,

3/12/25

..

25‌

26‌

992030670.UG.FTS.B,

29.49%,

3/12/25

..

24‌

25‌

992031894.UG.FTS.B,

29.49%,

3/12/25

..

853‌

880‌

992032191.UG.FTS.B,

29.49%,

3/12/25

..

265‌

274‌

992032963.UG.FTS.B,

29.49%,

3/12/25

..

114‌

118‌

992033131.UG.FTS.B,

29.49%,

3/12/25

..

196‌

202‌

992033980.UG.FTS.B,

29.49%,

3/12/25

..

46‌

48‌

992034628.UG.FTS.B,

29.49%,

3/12/25

..

1,000‌

1,033‌

992035459.UG.FTS.B,

29.49%,

3/12/25

..

622‌

635‌

992035645.UG.FTS.B,

29.49%,

3/12/25

..

175‌

181‌

992035786.UG.FTS.B,

29.49%,

3/12/25

..

3,000‌

3,096‌

992035947.UG.FTS.B,

29.49%,

3/12/25

..

130‌

134‌

992036734.UG.FTS.B,

29.49%,

3/12/25

..

3,500‌

3,617‌

992036984.UG.FTS.B,

29.49%,

3/12/25

..

235‌

243‌

992038154.UG.FTS.B,

29.49%,

3/12/25

..

1,496‌

1,545‌

992039343.UG.FTS.B,

29.49%,

3/12/25

..

780‌

806‌

992040849.UG.FTS.B,

29.49%,

3/12/25

..

86‌

89‌

992041923.UG.FTS.B,

29.49%,

3/12/25

..

24‌

24‌

992042515.UG.FTS.B,

29.49%,

3/12/25

..

432‌

447‌

992042525.UG.FTS.B,

29.49%,

3/12/25

..

58‌

60‌

992042578.UG.FTS.B,

29.49%,

3/12/25

..

764‌

789‌

992043118.UG.FTS.B,

29.49%,

3/12/25

..

25‌

25‌

992044948.UG.FTS.B,

29.49%,

3/12/25

..

226‌

233‌

992045594.UG.FTS.B,

29.49%,

3/12/25

..

155‌

160‌

992045738.UG.FTS.B,

29.49%,

3/12/25

..

68‌

70‌

992046648.UG.FTS.B,

29.49%,

3/12/25

..

342‌

353‌

992046811.UG.FTS.B,

29.49%,

3/12/25

..

51‌

53‌

992047536.UG.FTS.B,

29.49%,

3/12/25

..

389‌

402‌

992051815.UG.FTS.B,

29.49%,

3/12/25

..

135‌

140‌

992052748.UG.FTS.B,

29.49%,

3/12/25

..

40‌

41‌

992052775.UG.FTS.B,

29.49%,

3/12/25

..

43‌

44‌

992054429.UG.FTS.B,

29.49%,

3/12/25

..

543‌

560‌

992054690.UG.FTS.B,

29.49%,

3/12/25

..

10‌

11‌

992054745.UG.FTS.B,

29.49%,

3/12/25

..

55‌

57‌

992054780.UG.FTS.B,

29.49%,

3/12/25

..

276‌

285‌

992056202.UG.FTS.B,

29.49%,

3/12/25

..

222‌

230‌

Description

Principal

Amount

Value

UGCard

(continued)

992056225.UG.FTS.B,

29.49%,

3/12/25

..

$

60‌

$

60‌

992057759.UG.FTS.B,

29.49%,

3/12/25

..

267‌

276‌

992058250.UG.FTS.B,

29.49%,

3/12/25

..

1,000‌

1,033‌

992059078.UG.FTS.B,

29.49%,

3/12/25

..

29‌

30‌

992059724.UG.FTS.B,

29.49%,

3/12/25

..

117‌

121‌

992059917.UG.FTS.B,

29.49%,

3/12/25

..

2,367‌

2,414‌

992062387.UG.FTS.B,

29.49%,

3/12/25

..

1,716‌

1,772‌

992062759.UG.FTS.B,

29.49%,

3/12/25

..

373‌

384‌

992063028.UG.FTS.B,

29.49%,

3/12/25

..

570‌

588‌

992063162.UG.FTS.B,

29.49%,

3/12/25

..

45‌

46‌

992063465.UG.FTS.B,

29.49%,

3/12/25

..

66‌

68‌

992064759.UG.FTS.B,

29.49%,

3/12/25

..

134‌

139‌

992065238.UG.FTS.B,

29.49%,

3/12/25

..

1,503‌

1,553‌

992066033.UG.FTS.B,

29.49%,

3/12/25

..

118‌

122‌

992067597.UG.FTS.B,

29.49%,

3/12/25

..

100‌

103‌

992070590.UG.FTS.B,

29.49%,

3/12/25

..

376‌

388‌

992072462.UG.FTS.B,

29.49%,

3/12/25

..

102‌

106‌

992072542.UG.FTS.B,

29.49%,

3/12/25

..

124‌

128‌

992073351.UG.FTS.B,

29.49%,

3/12/25

..

104‌

107‌

992073384.UG.FTS.B,

29.49%,

3/12/25

..

54‌

55‌

992073838.UG.FTS.B,

29.49%,

3/12/25

..

87‌

90‌

992077273.UG.FTS.B,

29.49%,

3/12/25

..

301‌

310‌

992077869.UG.FTS.B,

29.49%,

3/12/25

..

528‌

545‌

992079967.UG.FTS.B,

29.49%,

3/12/25

..

83‌

86‌

992080741.UG.FTS.B,

29.49%,

3/12/25

..

33‌

34‌

992081420.UG.FTS.B,

29.49%,

3/12/25

..

275‌

284‌

992081543.UG.FTS.B,

29.49%,

3/12/25

..

226‌

234‌

992083319.UG.FTS.B,

29.49%,

3/12/25

..

110‌

113‌

992084855.UG.FTS.B,

29.49%,

3/12/25

..

104‌

107‌

992085476.UG.FTS.B,

29.49%,

3/12/25

..

12‌

12‌

992086097.UG.FTS.B,

29.49%,

3/12/25

..

12‌

12‌

992086397.UG.FTS.B,

29.49%,

3/12/25

..

18‌

19‌

992087520.UG.FTS.B,

29.49%,

3/12/25

..

343‌

354‌

992088547.UG.FTS.B,

29.49%,

3/12/25

..

95‌

99‌

992088572.UG.FTS.B,

29.49%,

3/12/25

..

325‌

336‌

992088656.UG.FTS.B,

29.49%,

3/12/25

..

702‌

716‌

992089447.UG.FTS.B,

29.49%,

3/12/25

..

100‌

103‌

992091472.UG.FTS.B,

29.49%,

3/12/25

..

145‌

150‌

992091550.UG.FTS.B,

29.49%,

3/12/25

..

200‌

206‌

992092159.UG.FTS.B,

29.49%,

3/12/25

..

2,000‌

2,064‌

992093151.UG.FTS.B,

29.49%,

3/12/25

..

337‌

348‌

992094159.UG.FTS.B,

29.49%,

3/12/25

..

142‌

146‌

992094301.UG.FTS.B,

29.49%,

3/12/25

..

13‌

13‌

992094390.UG.FTS.B,

29.49%,

3/12/25

..

520‌

531‌

992094543.UG.FTS.B,

29.49%,

3/12/25

..

236‌

244‌

992095056.UG.FTS.B,

29.49%,

3/12/25

..

188‌

194‌

992098219.UG.FTS.B,

29.49%,

3/12/25

..

979‌

1,010‌

992098441.UG.FTS.B,

29.49%,

3/12/25

..

1,517‌

1,545‌

992098804.UG.FTS.B,

29.49%,

3/12/25

..

30‌

31‌

992099500.UG.FTS.B,

29.49%,

3/12/25

..

1,061‌

1,097‌

992099689.UG.FTS.B,

29.49%,

3/12/25

..

64‌

66‌

992100478.UG.FTS.B,

29.49%,

3/12/25

..

314‌

325‌

992100561.UG.FTS.B,

29.49%,

3/12/25

..

383‌

396‌

992103984.UG.FTS.B,

29.49%,

3/12/25

..

764‌

790‌

992104144.UG.FTS.B,

29.49%,

3/12/25

..

9‌

9‌

992105063.UG.FTS.B,

29.49%,

3/12/25

..

51‌

53‌

992105219.UG.FTS.B,

29.49%,

3/12/25

..

282‌

283‌

992107335.UG.FTS.B,

29.49%,

3/12/25

..

98‌

101‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

74

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

UGCard

(continued)

992107466.UG.FTS.B,

29.49%,

3/12/25

..

$

48‌

$

50‌

992108295.UG.FTS.B,

29.49%,

3/12/25

..

93‌

96‌

992109359.UG.FTS.B,

29.49%,

3/12/25

..

756‌

780‌

992110271.UG.FTS.B,

29.49%,

3/12/25

..

165‌

168‌

992110922.UG.FTS.B,

29.49%,

3/12/25

..

63‌

65‌

992111365.UG.FTS.B,

29.49%,

3/12/25

..

267‌

276‌

992112301.UG.FTS.B,

29.49%,

3/12/25

..

400‌

413‌

992112504.UG.FTS.B,

29.49%,

3/12/25

..

3,832‌

3,927‌

992112852.UG.FTS.B,

29.49%,

3/12/25

..

300‌

310‌

992113302.UG.FTS.B,

29.49%,

3/12/25

..

496‌

512‌

992114113.UG.FTS.B,

29.49%,

3/12/25

..

8‌

8‌

992114816.UG.FTS.B,

29.49%,

3/12/25

..

79‌

81‌

992117674.UG.FTS.B,

29.49%,

3/12/25

..

332‌

341‌

992118520.UG.FTS.B,

29.49%,

3/12/25

..

34‌

35‌

992119672.UG.FTS.B,

29.49%,

3/12/25

..

150‌

155‌

992122564.UG.FTS.B,

29.49%,

3/12/25

..

3,800‌

3,926‌

992122747.UG.FTS.B,

29.49%,

3/12/25

..

100‌

103‌

992123471.UG.FTS.B,

29.49%,

3/12/25

..

500‌

517‌

992126893.UG.FTS.B,

29.49%,

3/12/25

..

392‌

406‌

992127724.UG.FTS.B,

29.49%,

3/12/25

..

8‌

8‌

992127952.UG.FTS.B,

29.49%,

3/12/25

..

25‌

11‌

992128388.UG.FTS.B,

29.49%,

3/12/25

..

30‌

30‌

992130738.UG.FTS.B,

29.49%,

3/12/25

..

140‌

145‌

992132005.UG.FTS.B,

29.49%,

3/12/25

..

300‌

310‌

992132486.UG.FTS.B,

29.49%,

3/12/25

..

195‌

201‌

992132824.UG.FTS.B,

29.49%,

3/12/25

..

100‌

103‌

992133383.UG.FTS.B,

29.49%,

3/12/25

..

271‌

280‌

992133407.UG.FTS.B,

29.49%,

3/12/25

..

456‌

465‌

992133462.UG.FTS.B,

29.49%,

3/12/25

..

224‌

231‌

992133631.UG.FTS.B,

29.49%,

3/12/25

..

49‌

51‌

992134255.UG.FTS.B,

29.49%,

3/12/25

..

184‌

190‌

992134472.UG.FTS.B,

29.49%,

3/12/25

..

60‌

62‌

992135434.UG.FTS.B,

29.49%,

3/12/25

..

111‌

114‌

992137600.UG.FTS.B,

29.49%,

3/12/25

..

1,038‌

1,073‌

992142151.UG.FTS.B,

29.49%,

3/12/25

..

37‌

38‌

992143879.UG.FTS.B,

29.49%,

3/12/25

..

381‌

394‌

992144369.UG.FTS.B,

29.49%,

3/12/25

..

960‌

988‌

992145724.UG.FTS.B,

29.49%,

3/12/25

..

25‌

26‌

992146627.UG.FTS.B,

29.49%,

3/12/25

..

673‌

694‌

992147169.UG.FTS.B,

29.49%,

3/12/25

..

188‌

194‌

992147231.UG.FTS.B,

29.49%,

3/12/25

..

2,981‌

3,080‌

992147400.UG.FTS.B,

29.49%,

3/12/25

..

114‌

118‌

992148604.UG.FTS.B,

29.49%,

3/12/25

..

74‌

76‌

992149570.UG.FTS.B,

29.49%,

3/12/25

..

508‌

523‌

992150315.UG.FTS.B,

29.49%,

3/12/25

..

118‌

121‌

992151786.UG.FTS.B,

29.49%,

3/12/25

..

64‌

66‌

992152740.UG.FTS.B,

29.49%,

3/12/25

..

7‌

7‌

992154641.UG.FTS.B,

29.49%,

3/12/25

..

229‌

233‌

992154894.UG.FTS.B,

29.49%,

3/12/25

..

259‌

264‌

992156373.UG.FTS.B,

29.49%,

3/12/25

..

500‌

516‌

992156451.UG.FTS.B,

29.49%,

3/12/25

..

700‌

723‌

992156587.UG.FTS.B,

29.49%,

3/12/25

..

220‌

47‌

992156936.UG.FTS.B,

29.49%,

3/12/25

..

145‌

150‌

992156960.UG.FTS.B,

29.49%,

3/12/25

..

500‌

517‌

992157039.UG.FTS.B,

29.49%,

3/12/25

..

550‌

568‌

992157569.UG.FTS.B,

29.49%,

3/12/25

..

400‌

413‌

992157900.UG.FTS.B,

29.49%,

3/12/25

..

584‌

603‌

992158058.UG.FTS.B,

29.49%,

3/12/25

..

1,250‌

1,291‌

Description

Principal

Amount

Value

UGCard

(continued)

992159029.UG.FTS.B,

29.49%,

3/12/25

..

$

400‌

$

413‌

992159120.UG.FTS.B,

29.49%,

3/12/25

..

1,262‌

1,282‌

992162561.UG.FTS.B,

29.49%,

3/12/25

..

45‌

47‌

992162694.UG.FTS.B,

29.49%,

3/12/25

..

50‌

52‌

992162823.UG.FTS.B,

29.49%,

3/12/25

..

161‌

165‌

992163474.UG.FTS.B,

29.49%,

3/12/25

..

25‌

26‌

992163923.UG.FTS.B,

29.49%,

3/12/25

..

146‌

151‌

992165608.UG.FTS.B,

29.49%,

3/12/25

..

168‌

174‌

992165772.UG.FTS.B,

29.49%,

3/12/25

..

263‌

268‌

992166426.UG.FTS.B,

29.49%,

3/12/25

..

30‌

31‌

992166442.UG.FTS.B,

29.49%,

3/12/25

..

6‌

6‌

992166865.UG.FTS.B,

29.49%,

3/12/25

..

166‌

172‌

992167238.UG.FTS.B,

29.49%,

3/12/25

..

400‌

413‌

992167273.UG.FTS.B,

29.49%,

3/12/25

..

200‌

207‌

992167277.UG.FTS.B,

29.49%,

3/12/25

..

1,300‌

1,344‌

992167738.UG.FTS.B,

29.49%,

3/12/25

..

900‌

930‌

992167986.UG.FTS.B,

29.49%,

3/12/25

..

100‌

103‌

992170180.UG.FTS.B,

29.49%,

3/12/25

..

1,528‌

1,578‌

992170818.UG.FTS.B,

29.49%,

3/12/25

..

92‌

95‌

992170895.UG.FTS.B,

29.49%,

3/12/25

..

82‌

85‌

992171416.UG.FTS.B,

29.49%,

3/12/25

..

231‌

237‌

992172294.UG.FTS.B,

29.49%,

3/12/25

..

400‌

413‌

992175112.UG.FTS.B,

29.49%,

3/12/25

..

97‌

101‌

992175145.UG.FTS.B,

29.49%,

3/12/25

..

135‌

140‌

992176896.UG.FTS.B,

29.49%,

3/12/25

..

150‌

155‌

992177334.UG.FTS.B,

29.49%,

3/12/25

..

286‌

288‌

992177339.UG.FTS.B,

29.49%,

3/12/25

..

300‌

310‌

992177696.UG.FTS.B,

29.49%,

3/12/25

..

1,000‌

1,033‌

992178177.UG.FTS.B,

29.49%,

3/12/25

..

49‌

51‌

992178667.UG.FTS.B,

29.49%,

3/12/25

..

128‌

131‌

992179249.UG.FTS.B,

29.49%,

3/12/25

..

72‌

74‌

992180210.UG.FTS.B,

29.49%,

3/12/25

..

40‌

42‌

992180363.UG.FTS.B,

29.49%,

3/12/25

..

45‌

46‌

992180885.UG.FTS.B,

29.49%,

3/12/25

..

14‌

14‌

992181548.UG.FTS.B,

29.49%,

3/12/25

..

403‌

417‌

992186326.UG.FTS.B,

29.49%,

3/12/25

..

200‌

206‌

992187440.UG.FTS.B,

29.49%,

3/12/25

..

89‌

92‌

992189183.UG.FTS.B,

29.49%,

3/12/25

..

2,800‌

2,860‌

992189290.UG.FTS.B,

29.49%,

3/12/25

..

350‌

361‌

992191241.UG.FTS.B,

29.49%,

3/12/25

..

7‌

7‌

992195496.UG.FTS.B,

29.49%,

3/12/25

..

15‌

15‌

992196076.UG.FTS.B,

29.49%,

3/12/25

..

67‌

67‌

992196450.UG.FTS.B,

29.49%,

3/12/25

..

783‌

798‌

992200227.UG.FTS.B,

29.49%,

3/12/25

..

128‌

130‌

992200764.UG.FTS.B,

29.49%,

3/12/25

..

171‌

174‌

992202701.UG.FTS.B,

29.49%,

3/12/25

..

100‌

101‌

992203702.UG.FTS.B,

29.49%,

3/12/25

..

1,371‌

1,398‌

992204874.UG.FTS.B,

29.49%,

3/12/25

..

80‌

83‌

992204979.UG.FTS.B,

29.49%,

3/12/25

..

519‌

530‌

992205759.UG.FTS.B,

29.49%,

3/12/25

..

82‌

85‌

992206946.UG.FTS.B,

29.49%,

3/12/25

..

18‌

18‌

992219178.UG.FTS.B,

29.49%,

3/12/25

..

600‌

610‌

992220222.UG.FTS.B,

29.49%,

3/12/25

..

500‌

510‌

992220821.UG.FTS.B,

29.49%,

3/12/25

..

71‌

73‌

992224226.UG.FTS.B,

29.49%,

3/12/25

..

59‌

61‌

992227802.UG.FTS.B,

29.49%,

3/12/25

..

26‌

27‌

992228441.UG.FTS.B,

29.49%,

3/12/25

..

1,200‌

1,223‌

992229512.UG.FTS.B,

29.49%,

3/12/25

..

272‌

274‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

75

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

UGCard

(continued)

992229714.UG.FTS.B,

29.49%,

3/12/25

..

$

777‌

$

792‌

992229918.UG.FTS.B,

29.49%,

3/12/25

..

32‌

33‌

992230278.UG.FTS.B,

29.49%,

3/12/25

..

229‌

233‌

992230372.UG.FTS.B,

29.49%,

3/12/25

..

422‌

431‌

992230666.UG.FTS.B,

29.49%,

3/12/25

..

56‌

58‌

992230969.UG.FTS.B,

29.49%,

3/12/25

..

206‌

213‌

992231261.UG.FTS.B,

29.49%,

3/12/25

..

185‌

191‌

992232596.UG.FTS.B,

29.49%,

3/12/25

..

351‌

357‌

992233672.UG.FTS.B,

29.49%,

3/12/25

..

80‌

83‌

992234352.UG.FTS.B,

29.49%,

3/12/25

..

96‌

99‌

992235558.UG.FTS.B,

29.49%,

3/12/25

..

793‌

809‌

992236730.UG.FTS.B,

29.49%,

3/12/25

..

238‌

242‌

992237645.UG.FTS.B,

29.49%,

3/12/25

..

1,600‌

1,627‌

992239605.UG.FTS.B,

29.49%,

3/12/25

..

17‌

18‌

992240381.UG.FTS.B,

29.49%,

3/12/25

..

77‌

80‌

992242470.UG.FTS.B,

29.49%,

3/12/25

..

11‌

11‌

992244110.UG.FTS.B,

29.49%,

3/12/25

..

1,625‌

1,661‌

992247751.UG.FTS.B,

29.49%,

3/12/25

..

150‌

153‌

992249098.UG.FTS.B,

29.49%,

3/12/25

..

22‌

22‌

992249924.UG.FTS.B,

29.49%,

3/12/25

..

43‌

43‌

992250137.UG.FTS.B,

29.49%,

3/12/25

..

16‌

16‌

992253395.UG.FTS.B,

29.49%,

3/12/25

..

123‌

126‌

992253956.UG.FTS.B,

29.49%,

3/12/25

..

24‌

25‌

992254876.UG.FTS.B,

29.49%,

3/12/25

..

183‌

190‌

992255934.UG.FTS.B,

29.49%,

3/12/25

..

10‌

10‌

992257397.UG.FTS.B,

29.49%,

3/12/25

..

700‌

714‌

992005851.UG.FTS.B,

29.99%,

3/12/25

..

77‌

79‌

992221252.UG.FTS.B,

19.99%,

3/13/25

..

69‌

71‌

992228343.UG.FTS.B,

19.99%,

3/13/25

..

350‌

358‌

992254001.UG.FTS.B,

19.99%,

3/13/25

..

182‌

186‌

992243460.UG.FTS.B,

27.99%,

3/13/25

..

200‌

204‌

992221575.UG.FTS.B,

28.98%,

3/13/25

..

376‌

385‌

992223214.UG.FTS.B,

28.98%,

3/13/25

..

86‌

89‌

992223627.UG.FTS.B,

28.98%,

3/13/25

..

622‌

636‌

992228277.UG.FTS.B,

28.98%,

3/13/25

..

3,500‌

3,579‌

992232222.UG.FTS.B,

28.98%,

3/13/25

..

145‌

148‌

992234580.UG.FTS.B,

28.98%,

3/13/25

..

648‌

662‌

992235193.UG.FTS.B,

28.98%,

3/13/25

..

14‌

15‌

992240186.UG.FTS.B,

28.98%,

3/13/25

..

440‌

450‌

992240769.UG.FTS.B,

28.98%,

3/13/25

..

111‌

115‌

992242389.UG.FTS.B,

28.98%,

3/13/25

..

128‌

129‌

992243738.UG.FTS.B,

28.98%,

3/13/25

..

63‌

65‌

992244210.UG.FTS.B,

28.98%,

3/13/25

..

6‌

6‌

992252799.UG.FTS.B,

28.98%,

3/13/25

..

401‌

410‌

992253378.UG.FTS.B,

28.98%,

3/13/25

..

96‌

100‌

992256231.UG.FTS.B,

28.98%,

3/13/25

..

169‌

173‌

992257420.UG.FTS.B,

28.98%,

3/13/25

..

400‌

409‌

992257494.UG.FTS.B,

28.98%,

3/13/25

..

1,200‌

1,227‌

992240086.UG.FTS.B,

29.46%,

3/13/25

..

670‌

684‌

992216241.UG.FTS.B,

29.49%,

3/13/25

..

10‌

10‌

992223485.UG.FTS.B,

29.49%,

3/13/25

..

142‌

145‌

992223722.UG.FTS.B,

29.49%,

3/13/25

..

529‌

538‌

992224180.UG.FTS.B,

29.49%,

3/13/25

..

212‌

216‌

992224496.UG.FTS.B,

29.49%,

3/13/25

..

41‌

42‌

992225859.UG.FTS.B,

29.49%,

3/13/25

..

28‌

28‌

992228032.UG.FTS.B,

29.49%,

3/13/25

..

124‌

127‌

992228275.UG.FTS.B,

29.49%,

3/13/25

..

207‌

211‌

992229336.UG.FTS.B,

29.49%,

3/13/25

..

500‌

511‌

Description

Principal

Amount

Value

UGCard

(continued)

992230170.UG.FTS.B,

29.49%,

3/13/25

..

$

136‌

$

139‌

992236810.UG.FTS.B,

29.49%,

3/13/25

..

545‌

554‌

992238871.UG.FTS.B,

29.49%,

3/13/25

..

80‌

83‌

992239376.UG.FTS.B,

29.49%,

3/13/25

..

310‌

316‌

992239651.UG.FTS.B,

29.49%,

3/13/25

..

8‌

8‌

992240691.UG.FTS.B,

29.49%,

3/13/25

..

142‌

145‌

992241503.UG.FTS.B,

29.49%,

3/13/25

..

80‌

82‌

992242417.UG.FTS.B,

29.49%,

3/13/25

..

20‌

21‌

992243779.UG.FTS.B,

29.49%,

3/13/25

..

22‌

23‌

992245089.UG.FTS.B,

29.49%,

3/13/25

..

79‌

81‌

992247163.UG.FTS.B,

29.49%,

3/13/25

..

1,000‌

1,022‌

992247512.UG.FTS.B,

29.49%,

3/13/25

..

160‌

164‌

992247992.UG.FTS.B,

29.49%,

3/13/25

..

500‌

510‌

992248104.UG.FTS.B,

29.49%,

3/13/25

..

3,000‌

3,050‌

992249490.UG.FTS.B,

29.49%,

3/13/25

..

170‌

177‌

992252149.UG.FTS.B,

29.49%,

3/13/25

..

44‌

45‌

992253061.UG.FTS.B,

29.49%,

3/13/25

..

206‌

211‌

992253925.UG.FTS.B,

29.49%,

3/13/25

..

269‌

274‌

992255733.UG.FTS.B,

29.49%,

3/13/25

..

330‌

336‌

992255865.UG.FTS.B,

29.49%,

3/13/25

..

3,000‌

3,025‌

992237185.UG.FTS.B,

19.21%,

3/14/25

..

65‌

67‌

992233445.UG.FTS.B,

19.99%,

3/14/25

..

53‌

55‌

992223650.UG.FTS.B,

28.98%,

3/14/25

..

125‌

129‌

992231938.UG.FTS.B,

28.98%,

3/14/25

..

51‌

53‌

992233948.UG.FTS.B,

28.98%,

3/14/25

..

7‌

8‌

992234540.UG.FTS.B,

28.98%,

3/14/25

..

20‌

21‌

992236233.UG.FTS.B,

28.98%,

3/14/25

..

14‌

14‌

992239888.UG.FTS.B,

28.98%,

3/14/25

..

11‌

11‌

992240211.UG.FTS.B,

28.98%,

3/14/25

..

34‌

35‌

992240305.UG.FTS.B,

28.98%,

3/14/25

..

35‌

36‌

992241205.UG.FTS.B,

28.98%,

3/14/25

..

115‌

119‌

992242619.UG.FTS.B,

28.98%,

3/14/25

..

51‌

53‌

992243808.UG.FTS.B,

28.98%,

3/14/25

..

341‌

349‌

992246618.UG.FTS.B,

28.98%,

3/14/25

..

143‌

146‌

992249792.UG.FTS.B,

28.98%,

3/14/25

..

198‌

202‌

992251985.UG.FTS.B,

28.98%,

3/14/25

..

32‌

33‌

992253578.UG.FTS.B,

28.98%,

3/14/25

..

14‌

14‌

992255964.UG.FTS.B,

28.98%,

3/14/25

..

1,600‌

1,636‌

992256226.UG.FTS.B,

28.98%,

3/14/25

..

1,000‌

1,023‌

992256536.UG.FTS.B,

28.98%,

3/14/25

..

270‌

276‌

992233582.UG.FTS.B,

29.47%,

3/14/25

..

34‌

35‌

992215417.UG.FTS.B,

29.49%,

3/14/25

..

24‌

11‌

992222734.UG.FTS.B,

29.49%,

3/14/25

..

270‌

276‌

992225679.UG.FTS.B,

29.49%,

3/14/25

..

160‌

164‌

992229143.UG.FTS.B,

29.49%,

3/14/25

..

2,615‌

2,656‌

992229305.UG.FTS.B,

29.49%,

3/14/25

..

330‌

337‌

992230754.UG.FTS.B,

29.49%,

3/14/25

..

81‌

83‌

992231124.UG.FTS.B,

29.49%,

3/14/25

..

13‌

13‌

992236796.UG.FTS.B,

29.49%,

3/14/25

..

136‌

139‌

992236869.UG.FTS.B,

29.49%,

3/14/25

..

1,200‌

1,225‌

992240415.UG.FTS.B,

29.49%,

3/14/25

..

3,215‌

3,284‌

992240511.UG.FTS.B,

29.49%,

3/14/25

..

299‌

306‌

992241093.UG.FTS.B,

29.49%,

3/14/25

..

28‌

29‌

992242615.UG.FTS.B,

29.49%,

3/14/25

..

7‌

7‌

992243863.UG.FTS.B,

29.49%,

3/14/25

..

51‌

53‌

992245315.UG.FTS.B,

29.49%,

3/14/25

..

40‌

41‌

992245569.UG.FTS.B,

29.49%,

3/14/25

..

78‌

81‌

992247445.UG.FTS.B,

29.49%,

3/14/25

..

3,000‌

3,066‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

76

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

UGCard

(continued)

992247571.UG.FTS.B,

29.49%,

3/14/25

..

$

450‌

$

460‌

992249104.UG.FTS.B,

29.49%,

3/14/25

..

129‌

131‌

992249273.UG.FTS.B,

29.49%,

3/14/25

..

43‌

44‌

992250031.UG.FTS.B,

29.49%,

3/14/25

..

64‌

66‌

992255191.UG.FTS.B,

29.49%,

3/14/25

..

310‌

316‌

992255301.UG.FTS.B,

29.49%,

3/14/25

..

231‌

235‌

992232955.UG.FTS.B,

15.97%,

3/15/25

..

11,185‌

11,572‌

992225885.UG.FTS.B,

17.99%,

3/15/25

..

50‌

52‌

992224609.UG.FTS.B,

18.21%,

3/15/25

..

45‌

46‌

992220612.UG.FTS.B,

19.21%,

3/15/25

..

2,500‌

2,571‌

992254491.UG.FTS.B,

19.8%,

3/15/25

...

4,966‌

5,103‌

992222295.UG.FTS.B,

19.99%,

3/15/25

..

42‌

43‌

992228652.UG.FTS.B,

19.99%,

3/15/25

..

500‌

512‌

992233439.UG.FTS.B,

19.99%,

3/15/25

..

37‌

38‌

992241532.UG.FTS.B,

19.99%,

3/15/25

..

149‌

152‌

992244964.UG.FTS.B,

19.99%,

3/15/25

..

3,602‌

3,685‌

992253303.UG.FTS.B,

19.99%,

3/15/25

..

10‌

10‌

992229133.UG.FTS.B,

20.97%,

3/15/25

..

2,000‌

2,053‌

992238765.UG.FTS.B,

20.97%,

3/15/25

..

470‌

483‌

992229362.UG.FTS.B,

21.46%,

3/15/25

..

280‌

287‌

992256512.UG.FTS.B,

22.97%,

3/15/25

..

1,900‌

1,947‌

992232913.UG.FTS.B,

23.95%,

3/15/25

..

242‌

249‌

992229709.UG.FTS.B,

25.95%,

3/15/25

..

500‌

511‌

992235062.UG.FTS.B,

27.95%,

3/15/25

..

339‌

346‌

992221080.UG.FTS.B,

28.98%,

3/15/25

..

54‌

56‌

992227732.UG.FTS.B,

28.98%,

3/15/25

..

2,079‌

2,122‌

992228342.UG.FTS.B,

28.98%,

3/15/25

..

3,964‌

4,097‌

992235376.UG.FTS.B,

28.98%,

3/15/25

..

200‌

205‌

992238434.UG.FTS.B,

28.98%,

3/15/25

..

800‌

818‌

992238565.UG.FTS.B,

28.98%,

3/15/25

..

1,800‌

1,816‌

992242893.UG.FTS.B,

28.98%,

3/15/25

..

323‌

331‌

992243835.UG.FTS.B,

28.98%,

3/15/25

..

64‌

66‌

992246857.UG.FTS.B,

28.98%,

3/15/25

..

836‌

855‌

992249106.UG.FTS.B,

28.98%,

3/15/25

..

513‌

525‌

992256826.UG.FTS.B,

28.98%,

3/15/25

..

800‌

818‌

992224077.UG.FTS.B,

29.45%,

3/15/25

..

13‌

13‌

992236983.UG.FTS.B,

29.46%,

3/15/25

..

27‌

28‌

992237920.UG.FTS.B,

29.46%,

3/15/25

..

1,000‌

1,040‌

992256568.UG.FTS.B,

29.46%,

3/15/25

..

300‌

306‌

992227992.UG.FTS.B,

29.47%,

3/15/25

..

70‌

72‌

992232539.UG.FTS.B,

29.47%,

3/15/25

..

256‌

261‌

992232683.UG.FTS.B,

29.47%,

3/15/25

..

65‌

67‌

992246432.UG.FTS.B,

29.47%,

3/15/25

..

200‌

204‌

992228150.UG.FTS.B,

29.48%,

3/15/25

..

200‌

204‌

992237499.UG.FTS.B,

29.48%,

3/15/25

..

1,600‌

1,631‌

992221265.UG.FTS.B,

29.49%,

3/15/25

..

565‌

575‌

992224325.UG.FTS.B,

29.49%,

3/15/25

..

20‌

21‌

992225292.UG.FTS.B,

29.49%,

3/15/25

..

119‌

122‌

992226433.UG.FTS.B,

29.49%,

3/15/25

..

188‌

191‌

992226480.UG.FTS.B,

29.49%,

3/15/25

..

48‌

49‌

992227704.UG.FTS.B,

29.49%,

3/15/25

..

79‌

81‌

992227837.UG.FTS.B,

29.49%,

3/15/25

..

79‌

82‌

992228003.UG.FTS.B,

29.49%,

3/15/25

..

2,300‌

2,338‌

992228621.UG.FTS.B,

29.49%,

3/15/25

..

500‌

508‌

992230655.UG.FTS.B,

29.49%,

3/15/25

..

1,024‌

1,029‌

992231491.UG.FTS.B,

29.49%,

3/15/25

..

20‌

20‌

992234833.UG.FTS.B,

29.49%,

3/15/25

..

600‌

613‌

992236749.UG.FTS.B,

29.49%,

3/15/25

..

94‌

97‌

Description

Principal

Amount

Value

UGCard

(continued)

992237766.UG.FTS.B,

29.49%,

3/15/25

..

$

3,000‌

$

3,061‌

992238323.UG.FTS.B,

29.49%,

3/15/25

..

219‌

223‌

992239305.UG.FTS.B,

29.49%,

3/15/25

..

200‌

204‌

992239425.UG.FTS.B,

29.49%,

3/15/25

..

700‌

714‌

992245098.UG.FTS.B,

29.49%,

3/15/25

..

159‌

162‌

992245657.UG.FTS.B,

29.49%,

3/15/25

..

49‌

51‌

992246476.UG.FTS.B,

29.49%,

3/15/25

..

1,045‌

1,079‌

992247585.UG.FTS.B,

29.49%,

3/15/25

..

400‌

408‌

992247914.UG.FTS.B,

29.49%,

3/15/25

..

2,000‌

2,043‌

992249386.UG.FTS.B,

29.49%,

3/15/25

..

194‌

198‌

992255094.UG.FTS.B,

29.49%,

3/15/25

..

9‌

9‌

992256796.UG.FTS.B,

29.49%,

3/15/25

..

175‌

179‌

992257031.UG.FTS.B,

29.49%,

3/15/25

..

137‌

140‌

992257114.UG.FTS.B,

29.49%,

3/15/25

..

175‌

179‌

992257192.UG.FTS.B,

29.49%,

3/15/25

..

103‌

107‌

992257274.UG.FTS.B,

29.49%,

3/15/25

..

136‌

138‌

992074090.UG.FTS.B,

22.36%,

3/11/27

..

2,690‌

2,784‌

992076610.UG.FTS.B,

22.36%,

3/11/27

..

3,418‌

3,538‌

991980740.UG.FTS.B,

22.36%,

3/12/27

..

741‌

767‌

992225456.UG.FTS.B,

22.36%,

3/12/27

..

835‌

856‌

991992169.UG.FTS.B,

17.99%,

4/03/27

..

0‌

0‌

992227854.UG.FTS.B,

29.49%,

4/06/27

..

3‌

3‌

991982573.UG.FTS.B,

19.99%,

4/08/27

..

0‌

0‌

992072585.UG.FTS.B,

27.95%,

4/08/27

..

31‌

32‌

991993452.UG.FTS.B,

27.99%,

4/08/27

..

4‌

4‌

991993596.UG.FTS.B,

28.48%,

4/08/27

..

0‌

0‌

992064920.UG.FTS.B,

28.48%,

4/08/27

..

2‌

2‌

991980026.UG.FTS.B,

28.98%,

4/08/27

..

0‌

0‌

992008506.UG.FTS.B,

28.98%,

4/08/27

..

3‌

3‌

992010037.UG.FTS.B,

28.98%,

4/08/27

..

0‌

0‌

992054089.UG.FTS.B,

28.98%,

4/08/27

..

2‌

2‌

992065832.UG.FTS.B,

28.98%,

4/08/27

..

2‌

2‌

992130061.UG.FTS.B,

28.98%,

4/08/27

..

4‌

4‌

992165539.UG.FTS.B,

28.98%,

4/08/27

..

4‌

4‌

991980981.UG.FTS.B,

29.46%,

4/08/27

..

5‌

5‌

992075601.UG.FTS.B,

29.46%,

4/08/27

..

1‌

1‌

992049345.UG.FTS.B,

29.48%,

4/08/27

..

0‌

0‌

992098453.UG.FTS.B,

29.48%,

4/08/27

..

2‌

2‌

991989457.UG.FTS.B,

29.49%,

4/08/27

..

6‌

6‌

992032123.UG.FTS.B,

29.49%,

4/08/27

..

1‌

1‌

992050039.UG.FTS.B,

29.49%,

4/08/27

..

0‌

0‌

992078124.UG.FTS.B,

29.49%,

4/08/27

..

7‌

8‌

992108560.UG.FTS.B,

29.49%,

4/08/27

..

4‌

4‌

992110657.UG.FTS.B,

29.49%,

4/08/27

..

0‌

0‌

992117190.UG.FTS.B,

29.49%,

4/08/27

..

5‌

5‌

992126831.UG.FTS.B,

29.49%,

4/08/27

..

4‌

4‌

992137369.UG.FTS.B,

29.49%,

4/08/27

..

5‌

5‌

992198270.UG.FTS.B,

29.49%,

4/08/27

..

1‌

1‌

992244551.UG.FTS.B,

29.49%,

4/08/27

..

1‌

1‌

992127307.UG.FTS.B,

28.48%,

4/09/27

..

0‌

0‌

991977186.UG.FTS.B,

28.98%,

4/09/27

..

4‌

4‌

991980872.UG.FTS.B,

28.98%,

4/09/27

..

0‌

0‌

992009312.UG.FTS.B,

28.98%,

4/09/27

..

1‌

0‌

992046782.UG.FTS.B,

28.98%,

4/09/27

..

4‌

4‌

992072808.UG.FTS.B,

28.98%,

4/09/27

..

0‌

0‌

992170901.UG.FTS.B,

28.98%,

4/09/27

..

0‌

0‌

991986580.UG.FTS.B,

29.46%,

4/09/27

..

0‌

0‌

992008917.UG.FTS.B,

29.47%,

4/09/27

..

3‌

3‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

77

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

UGCard

(continued)

991992796.UG.FTS.B,

29.48%,

4/09/27

..

$

0‌

$

0‌

992017944.UG.FTS.B,

29.48%,

4/09/27

..

4‌

4‌

992107226.UG.FTS.B,

29.48%,

4/09/27

..

2‌

2‌

991994948.UG.FTS.B,

29.49%,

4/09/27

..

2‌

2‌

992007348.UG.FTS.B,

29.49%,

4/09/27

..

0‌

0‌

992018933.UG.FTS.B,

29.49%,

4/09/27

..

4‌

5‌

992027212.UG.FTS.B,

29.49%,

4/09/27

..

4‌

4‌

992027529.UG.FTS.B,

29.49%,

4/09/27

..

2‌

2‌

992029297.UG.FTS.B,

29.49%,

4/09/27

..

4‌

4‌

992071039.UG.FTS.B,

29.49%,

4/09/27

..

0‌

0‌

992095302.UG.FTS.B,

29.49%,

4/09/27

..

2‌

2‌

992115581.UG.FTS.B,

29.49%,

4/09/27

..

0‌

0‌

992130730.UG.FTS.B,

29.49%,

4/09/27

..

2‌

2‌

992145345.UG.FTS.B,

29.49%,

4/09/27

..

2‌

2‌

992193128.UG.FTS.B,

29.49%,

4/09/27

..

1‌

1‌

992201472.UG.FTS.B,

29.49%,

4/09/27

..

3‌

3‌

992235605.UG.FTS.B,

29.49%,

4/09/27

..

5‌

5‌

992165607.UG.FTS.B,

19.99%,

4/10/27

..

0‌

0‌

992248960.UG.FTS.B,

29.49%,

4/10/27

..

3‌

3‌

992254932.UG.FTS.B,

29.49%,

4/10/27

..

4‌

4‌

992162839.UG.FTS.B,

29.49%,

4/11/27

..

0‌

0‌

992222566.UG.FTS.B,

29.49%,

4/11/27

..

1‌

1‌

992106705.UG.FTS.B,

20.46%,

4/12/27

..

0‌

0‌

991850380.UG.FTS.B,

29.49%,

4/23/27

..

1‌

1‌

992094423.UG.FTS.B,

21.46%,

4/24/27

..

9‌

9‌

992097901.UG.FTS.B,

28.48%,

4/25/27

..

0‌

0‌

1,839,781‌

Upgrade,

Inc.

24428460.UG.FTS.B,

25.26%,

11/18/22

..

2,501‌

2,517‌

24586260.UG.FTS.B,

25.26%,

11/21/22

..

3,546‌

3,585‌

24976313.UG.FTS.B,

24.29%,

12/04/22

..

1,605‌

1,615‌

25050419.UG.FTS.B,

25.26%,

12/09/22

..

1,101‌

1,110‌

25394975.UG.FTS.B,

25.26%,

12/19/22

..

1,296‌

1,313‌

25621947.UG.FTS.B,

25.26%,

12/30/22

..

427‌

429‌

24684808.UG.FTS.B,

28.71%,

12/03/24

..

10,897‌

11,260‌

24931814.UG.FTS.B,

29.69%,

12/17/24

..

18,532‌

19,319‌

25501737.UG.FTS.B,

25.82%,

1/03/25

...

14,845‌

1,807‌

42,955‌

Upstart

Network,

Inc.

L1720742.UP.FTS.B,

7.25%,

9/16/24

....

3,052‌

3,033‌

L1711624.UP.FTS.B,

7.44%,

9/16/24

.....

38,645‌

37,398‌

FW1721052.UP.FTS.B,

11.93%,

9/16/24

..

7,281‌

7,231‌

L1720797.UP.FTS.B,

13.29%,

9/16/24

....

2,484‌

2,465‌

L1721566.UP.FTS.B,

14.24%,

9/16/24

....

6,887‌

6,815‌

L1714038.UP.FTS.B,

16.16%,

9/16/24

....

1,383‌

1,369‌

L1721498.UP.FTS.B,

16.34%,

9/16/24

....

4,300‌

4,254‌

L1721654.UP.FTS.B,

16.43%,

9/16/24

....

2,162‌

2,139‌

L1721462.UP.FTS.B,

19.22%,

9/16/24

....

8,697‌

8,578‌

L1722689.UP.FTS.B,

21.13%,

9/16/24

....

8,952‌

8,452‌

L1720892.UP.FTS.B,

21.47%,

9/16/24

....

874‌

865‌

L1721851.UP.FTS.B,

22.85%,

9/16/24

....

691‌

678‌

L1720941.UP.FTS.B,

22.86%,

9/16/24

....

3,504‌

3,456‌

L1720552.UP.FTS.B,

23.67%,

9/16/24

....

4,035‌

3,980‌

L1721525.UP.FTS.B,

24.83%,

9/16/24

....

5,187‌

5,117‌

FW1721123.UP.FTS.B,

26.58%,

9/16/24

..

1,323‌

1,305‌

L1722286.UP.FTS.B,

26.68%,

9/16/24

....

2,558‌

2,524‌

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW1721072.UP.FTS.B,

27.91%,

9/16/24

..

$

4,421‌

$

4,361‌

FW1720347.UP.FTS.B,

28.7%,

9/16/24

...

1,331‌

1,313‌

FW1722168.UP.FTS.B,

28.72%,

9/16/24

..

4,435‌

4,375‌

FW1720921.UP.FTS.B,

29.11%,

9/16/24

..

2,038‌

2,011‌

L1893014.UP.FTS.B,

5.85%,

10/21/24

....

2,178‌

2,166‌

L1894225.UP.FTS.B,

6.03%,

10/21/24

....

30,503‌

30,342‌

FW1880019.UP.FTS.B,

6.18%,

10/21/24

..

852‌

847‌

L1894457.UP.FTS.B,

10.23%,

10/21/24

...

3,338‌

3,320‌

L1890908.UP.FTS.B,

11.38%,

10/21/24

...

13,204‌

13,130‌

L1895825.UP.FTS.B,

11.61%,

10/21/24

...

6,165‌

6,130‌

L1895754.UP.FTS.B,

11.97%,

10/21/24

...

2,644‌

2,629‌

L1894309.UP.FTS.B,

13.29%,

10/21/24

...

3,092‌

3,075‌

L1895049.UP.FTS.B,

13.93%,

10/21/24

...

4,422‌

4,383‌

L1891692.UP.FTS.B,

14.71%,

10/21/24

...

2,526‌

2,498‌

L1878535.UP.FTS.B,

15.12%,

10/21/24

...

4,427‌

4,387‌

L1890791.UP.FTS.B,

16.66%,

10/21/24

...

4,443‌

4,404‌

L1893536.UP.FTS.B,

16.96%,

10/21/24

...

4,441‌

4,402‌

L1893727.UP.FTS.B,

17.94%,

10/21/24

...

1,514‌

1,501‌

FW1892688.UP.FTS.B,

18.33%,

10/21/24

.

14,189‌

14,063‌

FW1895268.UP.FTS.B,

18.48%,

10/21/24

.

4,456‌

4,418‌

FW1894732.UP.FTS.B,

18.56%,

10/21/24

.

3,566‌

3,535‌

L1893435.UP.FTS.B,

18.88%,

10/21/24

...

2,676‌

2,653‌

FW1892653.UP.FTS.B,

19.01%,

10/21/24

.

2,855‌

2,830‌

L1892162.UP.FTS.B,

19.36%,

10/21/24

...

7,037‌

6,973‌

FW1885925.UP.FTS.B,

19.58%,

10/21/24

.

7,143‌

7,082‌

L1892628.UP.FTS.B,

19.64%,

10/21/24

...

4,019‌

3,984‌

FW1891505.UP.FTS.B,

21.84%,

10/21/24

.

2,975‌

2,945‌

FW1892835.UP.FTS.B,

22.74%,

10/21/24

.

1,330‌

1,315‌

FW1892240.UP.FTS.B,

22.75%,

10/21/24

.

3,589‌

3,549‌

FW1892377.UP.FTS.B,

22.87%,

10/21/24

.

1,795‌

1,775‌

L1891064.UP.FTS.B,

22.99%,

10/21/24

...

3,861‌

3,818‌

L1895185.UP.FTS.B,

23.97%,

10/21/24

...

4,407‌

4,358‌

FW1892967.UP.FTS.B,

24.12%,

10/21/24

.

2,817‌

429‌

FW1891670.UP.FTS.B,

25.4%,

10/21/24

..

3,131‌

3,095‌

FW1894367.UP.FTS.B,

26.84%,

10/21/24

.

6,800‌

482‌

FW1893365.UP.FTS.B,

26.97%,

10/21/24

.

9,543‌

2,826‌

FW1878892.UP.FTS.B,

27.8%,

10/21/24

..

1,071‌

1,058‌

FW1894403.UP.FTS.B,

28.39%,

10/21/24

.

1,086‌

1,075‌

FW1895865.UP.FTS.B,

29.13%,

10/21/24

.

904‌

894‌

FW1893899.UP.FTS.B,

29.21%,

10/21/24

.

8,521‌

8,429‌

FW1893137.UP.FTS.B,

29.93%,

10/21/24

.

4,696‌

4,456‌

FW1890927.UP.FTS.B,

30.31%,

10/21/24

.

10,895‌

10,778‌

L2016917.UP.FTS.B,

6.51%,

11/10/24

....

7,633‌

7,591‌

L2018233.UP.FTS.B,

7.02%,

11/10/24

....

6,740‌

6,703‌

FW2016268.UP.FTS.B,

7.76%,

11/10/24

..

10,346‌

10,279‌

L2015136.UP.FTS.B,

8.39%,

11/10/24

....

33,409‌

33,194‌

L2017173.UP.FTS.B,

8.57%,

11/10/24

....

991‌

984‌

L2017051.UP.FTS.B,

8.87%,

11/10/24

....

6,292‌

6,252‌

L2016733.UP.FTS.B,

9.09%,

11/10/24

....

8,689‌

8,628‌

L2017667.UP.FTS.B,

9.13%,

11/10/24

....

1,533‌

1,523‌

L2016728.UP.FTS.B,

9.29%,

11/10/24

....

6,312‌

6,272‌

L2018451.UP.FTS.B,

9.36%,

11/10/24

....

9,009‌

8,951‌

FW2018222.UP.FTS.B,

9.41%,

11/10/24

..

4,509‌

4,481‌

L2015856.UP.FTS.B,

10.58%,

11/10/24

...

6,775‌

6,733‌

L2016577.UP.FTS.B,

10.96%,

11/10/24

...

1,808‌

1,796‌

L2016991.UP.FTS.B,

11.7%,

11/10/24

....

6,102‌

1,590‌

L2016209.UP.FTS.B,

12.12%,

11/10/24

...

2,716‌

2,697‌

L2015678.UP.FTS.B,

12.54%,

11/10/24

...

9,061‌

8,997‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

78

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L1985791.UP.FTS.B,

12.67%,

11/10/24

...

$

2,173‌

$

2,156‌

FW2016328.UP.FTS.B,

12.86%,

11/10/24

.

2,719‌

2,700‌

L2017358.UP.FTS.B,

13.33%,

11/10/24

...

2,086‌

2,071‌

L2017782.UP.FTS.B,

13.67%,

11/10/24

...

2,893‌

2,871‌

L2018443.UP.FTS.B,

13.86%,

11/10/24

...

1,544‌

1,534‌

L2018339.UP.FTS.B,

13.97%,

11/10/24

...

4,993‌

4,958‌

FW2018062.UP.FTS.B,

14.37%,

11/10/24

.

3,185‌

3,150‌

L2017406.UP.FTS.B,

14.45%,

11/10/24

...

5,904‌

5,863‌

FW2018454.UP.FTS.B,

14.63%,

11/10/24

.

1,090‌

1,083‌

L2018006.UP.FTS.B,

14.87%,

11/10/24

...

1,818‌

1,797‌

FW2001495.UP.FTS.B,

15.25%,

11/10/24

.

1,314‌

1,304‌

L2015837.UP.FTS.B,

15.63%,

11/10/24

...

14,739‌

14,573‌

L2017093.UP.FTS.B,

16.12%,

11/10/24

...

1,093‌

1,080‌

L2016139.UP.FTS.B,

16.33%,

11/10/24

...

18,214‌

18,009‌

FW2007066.UP.FTS.B,

17.61%,

11/10/24

.

1,368‌

1,353‌

L2017957.UP.FTS.B,

18.16%,

11/10/24

...

913‌

907‌

L2008662.UP.FTS.B,

19.85%,

11/10/24

...

2,562‌

2,519‌

L2016784.UP.FTS.B,

21.44%,

11/10/24

...

1,834‌

1,813‌

L2016939.UP.FTS.B,

21.52%,

11/10/24

...

3,000‌

157‌

L2018393.UP.FTS.B,

21.57%,

11/10/24

...

5,502‌

5,423‌

FW2016840.UP.FTS.B,

22.02%,

11/10/24

.

1,651‌

1,628‌

L2016819.UP.FTS.B,

23.01%,

11/10/24

...

1,837‌

1,817‌

L2016119.UP.FTS.B,

23.12%,

11/10/24

...

2,940‌

2,898‌

L2016919.UP.FTS.B,

23.32%,

11/10/24

...

1,280‌

1,262‌

L2017801.UP.FTS.B,

23.42%,

11/10/24

...

1,129‌

678‌

FW2017274.UP.FTS.B,

23.62%,

11/10/24

.

2,298‌

2,266‌

FW2018301.UP.FTS.B,

24.87%,

11/10/24

.

4,392‌

4,324‌

FW2017356.UP.FTS.B,

25.92%,

11/10/24

.

9,219‌

9,089‌

FW2018024.UP.FTS.B,

26.15%,

11/10/24

.

2,766‌

2,727‌

FW2015791.UP.FTS.B,

26.34%,

11/10/24

.

922‌

909‌

FW2017551.UP.FTS.B,

26.35%,

11/10/24

.

6,435‌

6,340‌

FW2017022.UP.FTS.B,

26.79%,

11/10/24

.

916‌

903‌

FW2016322.UP.FTS.B,

27.44%,

11/10/24

.

1,847‌

1,821‌

FW2017278.UP.FTS.B,

27.94%,

11/10/24

.

2,773‌

2,734‌

FW2015174.UP.FTS.B,

28.27%,

11/10/24

.

999‌

984‌

FW2015810.UP.FTS.B,

28.92%,

11/10/24

.

1,293‌

1,275‌

FW2016457.UP.FTS.B,

29.16%,

11/10/24

.

2,591‌

2,555‌

FW2010781.UP.FTS.B,

29.79%,

11/10/24

.

3,797‌

3,744‌

FW2016361.UP.FTS.B,

30.75%,

11/10/24

.

15,535‌

15,342‌

L2112089.UP.FTS.B,

5.82%,

11/24/24

....

22,426‌

22,329‌

L2111723.UP.FTS.B,

6.93%,

11/24/24

....

3,594‌

3,579‌

L2110121.UP.FTS.B,

7.71%,

11/24/24

....

17,988‌

17,905‌

FW2112318.UP.FTS.B,

7.86%,

11/24/24

..

1,703‌

1,692‌

L2111193.UP.FTS.B,

8.01%,

11/24/24

....

13,500‌

13,438‌

L2111318.UP.FTS.B,

8.45%,

11/24/24

....

8,061‌

8,023‌

L2095319.UP.FTS.B,

10.08%,

11/24/24

...

7,841‌

7,802‌

L2111794.UP.FTS.B,

11.5%,

11/24/24

....

8,971‌

8,930‌

L2050999.UP.FTS.B,

11.63%,

11/24/24

...

2,074‌

2,062‌

L2111648.UP.FTS.B,

14.96%,

11/24/24

...

2,000‌

1,986‌

L2111810.UP.FTS.B,

15.22%,

11/24/24

...

1,715‌

1,699‌

L2112331.UP.FTS.B,

15.71%,

11/24/24

...

1,820‌

1,807‌

L2110559.UP.FTS.B,

17.14%,

11/24/24

...

4,056‌

4,026‌

FW2112100.UP.FTS.B,

17.32%,

11/24/24

.

7,295‌

7,244‌

L2110856.UP.FTS.B,

17.62%,

11/24/24

...

5,948‌

5,922‌

L2111033.UP.FTS.B,

18.33%,

11/24/24

...

1,826‌

1,814‌

FW2110153.UP.FTS.B,

19.9%,

11/24/24

..

1,830‌

1,818‌

FW2111612.UP.FTS.B,

21.02%,

11/24/24

.

6,414‌

6,371‌

L2110444.UP.FTS.B,

21.83%,

11/24/24

...

2,880‌

847‌

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L2111135.UP.FTS.B,

21.95%,

11/24/24

...

$

3,670‌

$

3,645‌

L2110276.UP.FTS.B,

22.36%,

11/24/24

...

1,377‌

1,365‌

L2109126.UP.FTS.B,

22.97%,

11/24/24

...

2,646‌

2,613‌

FW2112179.UP.FTS.B,

25.07%,

11/24/24

.

2,763‌

2,745‌

FW2109663.UP.FTS.B,

25.71%,

11/24/24

.

2,396‌

2,376‌

FW2112118.UP.FTS.B,

25.96%,

11/24/24

.

1,741‌

1,724‌

FW2111253.UP.FTS.B,

27.22%,

11/24/24

.

1,847‌

1,831‌

FW2109436.UP.FTS.B,

27.52%,

11/24/24

.

1,138‌

1,084‌

FW2111730.UP.FTS.B,

27.96%,

11/24/24

.

3,003‌

2,855‌

FW2111505.UP.FTS.B,

28.14%,

11/24/24

.

2,510‌

2,396‌

FW2110774.UP.FTS.B,

28.89%,

11/24/24

.

9,251‌

9,175‌

FW2110344.UP.FTS.B,

29.09%,

11/24/24

.

5,023‌

4,966‌

FW2110571.UP.FTS.B,

29.18%,

11/24/24

.

4,257‌

4,222‌

FW2111422.UP.FTS.B,

31.12%,

11/24/24

.

4,441‌

1,335‌

L2261401.UP.FTS.B,

6.66%,

12/16/24

....

9,224‌

9,184‌

L2261540.UP.FTS.B,

8.28%,

12/16/24

....

6,016‌

5,986‌

L2216224.UP.FTS.B,

8.42%,

12/16/24

....

4,906‌

4,882‌

L2265364.UP.FTS.B,

8.65%,

12/16/24

....

4,630‌

4,607‌

FW2265959.UP.FTS.B,

8.89%,

12/16/24

..

1,389‌

1,382‌

L2229763.UP.FTS.B,

9.3%,

12/16/24

....

927‌

922‌

L2266512.UP.FTS.B,

9.35%,

12/16/24

....

25,112‌

24,988‌

L2265007.UP.FTS.B,

9.44%,

12/16/24

....

1,390‌

1,383‌

L2265915.UP.FTS.B,

9.6%,

12/16/24

....

2,781‌

2,767‌

FW2264785.UP.FTS.B,

11.52%,

12/16/24

.

2,269‌

2,257‌

L2260646.UP.FTS.B,

11.94%,

12/16/24

...

5,083‌

5,055‌

L2259209.UP.FTS.B,

12.08%,

12/16/24

...

4,647‌

4,622‌

FW2263098.UP.FTS.B,

12.52%,

12/16/24

.

2,505‌

2,491‌

L2262060.UP.FTS.B,

13.31%,

12/16/24

...

3,257‌

3,240‌

L2262614.UP.FTS.B,

13.43%,

12/16/24

...

9,307‌

9,257‌

FW2266861.UP.FTS.B,

13.94%,

12/16/24

.

955‌

906‌

L2211679.UP.FTS.B,

14.71%,

12/16/24

...

27,958‌

27,710‌

L2261359.UP.FTS.B,

15.03%,

12/16/24

...

3,656‌

3,635‌

L2262178.UP.FTS.B,

15.67%,

12/16/24

...

6,530‌

6,472‌

L2261881.UP.FTS.B,

15.86%,

12/16/24

...

5,598‌

5,569‌

L2264299.UP.FTS.B,

16.22%,

12/16/24

...

3,920‌

3,886‌

L2262597.UP.FTS.B,

16.24%,

12/16/24

...

4,107‌

4,071‌

L2259776.UP.FTS.B,

16.46%,

12/16/24

...

6,519‌

6,461‌

L2261806.UP.FTS.B,

16.6%,

12/16/24

....

2,801‌

2,777‌

L2261925.UP.FTS.B,

16.82%,

12/16/24

...

2,045‌

2,027‌

L2266042.UP.FTS.B,

17.15%,

12/16/24

...

8,163‌

8,100‌

FW2264850.UP.FTS.B,

18.52%,

12/16/24

.

2,807‌

2,782‌

L2265306.UP.FTS.B,

18.91%,

12/16/24

...

4,679‌

4,639‌

L2262131.UP.FTS.B,

19.12%,

12/16/24

...

5,616‌

5,568‌

FW2265840.UP.FTS.B,

19.67%,

12/16/24

.

3,746‌

3,714‌

L2265667.UP.FTS.B,

19.73%,

12/16/24

...

18,732‌

18,571‌

L2261606.UP.FTS.B,

19.86%,

12/16/24

...

5,620‌

5,572‌

L2265833.UP.FTS.B,

20.21%,

12/16/24

...

1,406‌

1,394‌

FW2261706.UP.FTS.B,

20.22%,

12/16/24

.

4,685‌

4,633‌

L2261569.UP.FTS.B,

20.96%,

12/16/24

...

2,341‌

2,321‌

FW2264136.UP.FTS.B,

21.01%,

12/16/24

.

938‌

930‌

FW2266070.UP.FTS.B,

21.07%,

12/16/24

.

2,345‌

2,325‌

L2262523.UP.FTS.B,

21.5%,

12/16/24

....

1,313‌

1,302‌

FW2261259.UP.FTS.B,

22.38%,

12/16/24

.

3,542‌

3,502‌

L2264181.UP.FTS.B,

23.38%,

12/16/24

...

1,222‌

1,208‌

L2250028.UP.FTS.B,

23.42%,

12/16/24

...

4,323‌

4,287‌

L2261960.UP.FTS.B,

23.46%,

12/16/24

...

3,196‌

3,161‌

L2265891.UP.FTS.B,

23.63%,

12/16/24

...

3,574‌

3,535‌

FW2264809.UP.FTS.B,

24.15%,

12/16/24

.

941‌

930‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

79

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

FW2261943.UP.FTS.B,

24.37%,

12/16/24

.

$

3,198‌

$

3,164‌

FW2267015.UP.FTS.B,

24.4%,

12/16/24

..

2,153‌

2,127‌

FW2263709.UP.FTS.B,

25.03%,

12/16/24

.

3,765‌

3,724‌

FW2266287.UP.FTS.B,

26.84%,

12/16/24

.

1,509‌

1,493‌

FW2264410.UP.FTS.B,

26.85%,

12/16/24

.

1,886‌

1,865‌

FW2262407.UP.FTS.B,

27.23%,

12/16/24

.

1,700‌

287‌

FW2262386.UP.FTS.B,

27.26%,

12/16/24

.

943‌

933‌

FW2262628.UP.FTS.B,

27.26%,

12/16/24

.

3,096‌

3,058‌

FW2266872.UP.FTS.B,

27.8%,

12/16/24

..

4,718‌

4,668‌

FW2266398.UP.FTS.B,

28.01%,

12/16/24

.

14,000‌

13,843‌

FW2261223.UP.FTS.B,

28.07%,

12/16/24

.

1,227‌

1,214‌

FW2250584.UP.FTS.B,

28.09%,

12/16/24

.

649‌

641‌

FW2263788.UP.FTS.B,

28.41%,

12/16/24

.

3,444‌

3,400‌

FW2262409.UP.FTS.B,

28.42%,

12/16/24

.

4,724‌

4,674‌

FW2264787.UP.FTS.B,

28.42%,

12/16/24

.

9,440‌

9,340‌

FW2261375.UP.FTS.B,

28.5%,

12/16/24

..

944‌

934‌

FW2266624.UP.FTS.B,

28.53%,

12/16/24

.

1,226‌

1,213‌

FW2263769.UP.FTS.B,

28.64%,

12/16/24

.

5,189‌

5,134‌

FW2263191.UP.FTS.B,

28.73%,

12/16/24

.

7,083‌

7,008‌

FW2266557.UP.FTS.B,

28.78%,

12/16/24

.

1,417‌

1,402‌

FW2166539.UP.FTS.B,

28.95%,

12/16/24

.

14,168‌

14,019‌

FW2262149.UP.FTS.B,

29.41%,

12/16/24

.

681‌

673‌

L2269890.UP.FTS.B,

5.16%,

12/17/24

....

1,138‌

1,131‌

L2270141.UP.FTS.B,

5.94%,

12/17/24

....

4,616‌

4,596‌

L2268724.UP.FTS.B,

5.97%,

12/17/24

....

5,906‌

5,881‌

FW2270915.UP.FTS.B,

7.16%,

12/17/24

..

9,649‌

9,608‌

L2268969.UP.FTS.B,

7.2%,

12/17/24

....

3,243‌

3,232‌

L2270374.UP.FTS.B,

7.34%,

12/17/24

....

3,698‌

3,683‌

L2267343.UP.FTS.B,

7.39%,

12/17/24

....

1,387‌

1,380‌

L2271135.UP.FTS.B,

7.67%,

12/17/24

....

1,850‌

1,841‌

L2269599.UP.FTS.B,

7.84%,

12/17/24

....

2,498‌

2,485‌

L2269231.UP.FTS.B,

7.89%,

12/17/24

....

18,503‌

18,412‌

L2267347.UP.FTS.B,

8.86%,

12/17/24

....

1,852‌

1,843‌

L2267672.UP.FTS.B,

9.07%,

12/17/24

....

901‌

895‌

L2269156.UP.FTS.B,

9.26%,

12/17/24

....

1,853‌

1,844‌

L2268227.UP.FTS.B,

9.32%,

12/17/24

....

7,702‌

7,662‌

L2271183.UP.FTS.B,

9.8%,

12/17/24

.....

2,318‌

2,307‌

L2269100.UP.FTS.B,

10.48%,

12/17/24

...

5,567‌

5,537‌

FW2269087.UP.FTS.B,

11.05%,

12/17/24

.

16,710‌

16,622‌

FW2268625.UP.FTS.B,

11.72%,

12/17/24

.

1,500‌

225‌

L2269221.UP.FTS.B,

11.91%,

12/17/24

...

1,394‌

1,386‌

L2269792.UP.FTS.B,

12.02%,

12/17/24

...

6,505‌

6,471‌

FW2268004.UP.FTS.B,

12.87%,

12/17/24

.

1,674‌

1,666‌

L2269551.UP.FTS.B,

13.05%,

12/17/24

...

2,326‌

2,314‌

L2270701.UP.FTS.B,

13.05%,

12/17/24

...

2,326‌

2,314‌

L2268022.UP.FTS.B,

13.34%,

12/17/24

...

1,861‌

1,852‌

L2270387.UP.FTS.B,

13.84%,

12/17/24

...

4,155‌

4,118‌

FW2270867.UP.FTS.B,

14%,

12/17/24

...

2,794‌

2,780‌

FW2268019.UP.FTS.B,

14.1%,

12/17/24

..

2,767‌

2,752‌

L2268204.UP.FTS.B,

14.83%,

12/17/24

...

931‌

926‌

FW2267398.UP.FTS.B,

15.02%,

12/17/24

.

6,059‌

6,008‌

FW2268289.UP.FTS.B,

15.32%,

12/17/24

.

1,865‌

1,849‌

L2167897.UP.FTS.B,

15.66%,

12/17/24

...

2,799‌

2,775‌

FW2269010.UP.FTS.B,

16.43%,

12/17/24

.

7,469‌

7,405‌

FW2269098.UP.FTS.B,

17.2%,

12/17/24

..

934‌

926‌

L2269238.UP.FTS.B,

17.64%,

12/17/24

...

798‌

789‌

L2270546.UP.FTS.B,

18.98%,

12/17/24

...

4,680‌

4,641‌

FW2270407.UP.FTS.B,

19.41%,

12/17/24

.

4,234‌

4,204‌

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L2270930.UP.FTS.B,

20.12%,

12/17/24

...

$

6,289‌

$

6,231‌

L2268053.UP.FTS.B,

20.24%,

12/17/24

...

7,744‌

7,660‌

FW2268218.UP.FTS.B,

21.52%,

12/17/24

.

4,691‌

4,641‌

L2268185.UP.FTS.B,

21.7%,

12/17/24

....

3,627‌

1,053‌

L2268276.UP.FTS.B,

21.79%,

12/17/24

...

4,692‌

4,643‌

L2267793.UP.FTS.B,

22.13%,

12/17/24

...

5,539‌

5,480‌

FW2266634.UP.FTS.B,

22.58%,

12/17/24

.

2,244‌

2,220‌

FW2267972.UP.FTS.B,

23.15%,

12/17/24

.

940‌

930‌

FW2270368.UP.FTS.B,

26.16%,

12/17/24

.

7,538‌

7,460‌

FW2269877.UP.FTS.B,

26.2%,

12/17/24

..

2,827‌

2,798‌

FW2271067.UP.FTS.B,

26.83%,

12/17/24

.

3,771‌

3,732‌

FW2269631.UP.FTS.B,

28.28%,

12/17/24

.

6,314‌

6,249‌

FW2271085.UP.FTS.B,

28.41%,

12/17/24

.

2,948‌

868‌

FW2267456.UP.FTS.B,

28.59%,

12/17/24

.

6,610‌

6,542‌

FW2270326.UP.FTS.B,

28.75%,

12/17/24

.

1,430‌

1,418‌

FW2268833.UP.FTS.B,

28.95%,

12/17/24

.

3,873‌

3,833‌

FW2265384.UP.FTS.B,

29.1%,

12/17/24

..

1,417‌

1,403‌

FW2271142.UP.FTS.B,

29.18%,

12/17/24

.

945‌

935‌

FW2270214.UP.FTS.B,

29.19%,

12/17/24

.

5,672‌

5,628‌

FW2270219.UP.FTS.B,

29.85%,

12/17/24

.

8,035‌

7,973‌

L2473622.UP.FTS.B,

7.13%,

1/20/25

....

12,534‌

12,496‌

L2473725.UP.FTS.B,

7.25%,

1/20/25

....

2,746‌

2,737‌

L2472694.UP.FTS.B,

7.39%,

1/20/25

....

15,290‌

15,236‌

L2474338.UP.FTS.B,

7.49%,

1/20/25

....

5,699‌

5,682‌

FW2474019.UP.FTS.B,

7.98%,

1/20/25

...

4,750‌

4,734‌

L2471304.UP.FTS.B,

8.33%,

1/20/25

....

950‌

947‌

L2473962.UP.FTS.B,

9.13%,

1/20/25

....

7,132‌

7,107‌

L2475664.UP.FTS.B,

9.31%,

1/20/25

....

4,755‌

4,739‌

FW2473618.UP.FTS.B,

10.51%,

1/20/25

..

4,759‌

4,743‌

L2473054.UP.FTS.B,

10.94%,

1/20/25

....

20,859‌

20,777‌

L2473468.UP.FTS.B,

13.72%,

1/20/25

....

28,616‌

28,512‌

L2470533.UP.FTS.B,

13.91%,

1/20/25

....

1,815‌

1,811‌

L2474001.UP.FTS.B,

17.2%,

1/20/25

....

33,143‌

32,924‌

FW2471736.UP.FTS.B,

17.65%,

1/20/25

..

3,344‌

3,323‌

L2471359.UP.FTS.B,

19.95%,

1/20/25

....

3,678‌

3,651‌

FW2473705.UP.FTS.B,

21.94%,

1/20/25

..

955‌

948‌

FW2474339.UP.FTS.B,

22.4%,

1/20/25

...

959‌

952‌

L2475291.UP.FTS.B,

22.47%,

1/20/25

....

1,912‌

1,897‌

L2475619.UP.FTS.B,

23.11%,

1/20/25

....

4,606‌

4,571‌

L2474731.UP.FTS.B,

23.19%,

1/20/25

....

4,030‌

4,000‌

FW2475578.UP.FTS.B,

23.88%,

1/20/25

..

1,920‌

1,905‌

FW2471424.UP.FTS.B,

26.66%,

1/20/25

..

2,884‌

2,863‌

FW2473893.UP.FTS.B,

26.7%,

1/20/25

...

1,058‌

1,050‌

FW2473351.UP.FTS.B,

27.4%,

1/20/25

...

3,078‌

3,055‌

FW2474510.UP.FTS.B,

28.36%,

1/20/25

..

1,925‌

1,911‌

FW2472771.UP.FTS.B,

28.59%,

1/20/25

..

2,021‌

2,006‌

FW2472534.UP.FTS.B,

28.71%,

1/20/25

..

2,803‌

2,789‌

FW2475465.UP.FTS.B,

29.13%,

1/20/25

..

1,156‌

1,147‌

FW2475051.UP.FTS.B,

29.14%,

1/20/25

..

2,696‌

2,676‌

L2477325.UP.FTS.B,

5.03%,

1/21/25

....

42,632‌

42,503‌

L2477596.UP.FTS.B,

5.15%,

1/21/25

....

47,273‌

47,128‌

L2478162.UP.FTS.B,

5.21%,

1/21/25

....

7,591‌

7,577‌

FW2481417.UP.FTS.B,

5.45%,

1/21/25

...

20,847‌

20,785‌

L2480101.UP.FTS.B,

5.52%,

1/21/25

....

3,319‌

3,310‌

L2477182.UP.FTS.B,

5.56%,

1/21/25

....

1,423‌

1,418‌

L2481166.UP.FTS.B,

5.6%,

1/21/25

......

12,569‌

11,899‌

L2479581.UP.FTS.B,

5.69%,

1/21/25

....

9,964‌

9,926‌

L2481090.UP.FTS.B,

5.98%,

1/21/25

....

3,795‌

3,784‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

80

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2481805.UP.FTS.B,

6.04%,

1/21/25

....

$

1,717‌

$

1,711‌

L2479087.UP.FTS.B,

6.05%,

1/21/25

....

4,744‌

4,730‌

L2478352.UP.FTS.B,

6.09%,

1/21/25

....

5,693‌

5,676‌

L2480415.UP.FTS.B,

6.21%,

1/21/25

....

3,796‌

3,784‌

FW2476655.UP.FTS.B,

6.3%,

1/21/25

....

11,387‌

11,354‌

L2455913.UP.FTS.B,

6.4%,

1/21/25

.....

9,492‌

9,464‌

L2480188.UP.FTS.B,

6.93%,

1/21/25

....

949‌

947‌

FW2476371.UP.FTS.B,

6.96%,

1/21/25

...

1,424‌

1,420‌

L2480190.UP.FTS.B,

6.98%,

1/21/25

....

5,696‌

5,680‌

L2480122.UP.FTS.B,

7.02%,

1/21/25

....

1,833‌

1,828‌

L2478511.UP.FTS.B,

7.09%,

1/21/25

.....

5,222‌

5,207‌

FW2478250.UP.FTS.B,

7.15%,

1/21/25

...

9,495‌

9,468‌

L2477884.UP.FTS.B,

7.18%,

1/21/25

....

950‌

947‌

FW2480938.UP.FTS.B,

7.33%,

1/21/25

...

4,748‌

4,735‌

L2479650.UP.FTS.B,

7.87%,

1/21/25

....

3,800‌

3,788‌

L2477335.UP.FTS.B,

9.18%,

1/21/25

....

14,264‌

14,216‌

L2481282.UP.FTS.B,

9.2%,

1/21/25

.....

951‌

948‌

FW2478471.UP.FTS.B,

9.25%,

1/21/25

...

3,804‌

3,791‌

L2480424.UP.FTS.B,

9.27%,

1/21/25

....

14,264‌

14,217‌

L2475861.UP.FTS.B,

9.49%,

1/21/25

....

9,503‌

9,472‌

L2480293.UP.FTS.B,

9.59%,

1/21/25

....

4,562‌

4,547‌

L2475946.UP.FTS.B,

9.84%,

1/21/25

....

7,611‌

7,586‌

L2476979.UP.FTS.B,

9.95%,

1/21/25

....

5,709‌

5,690‌

L2480634.UP.FTS.B,

10.14%,

1/21/25

....

9,515‌

9,485‌

L2474828.UP.FTS.B,

10.25%,

1/21/25

....

4,477‌

4,458‌

L2480429.UP.FTS.B,

10.33%,

1/21/25

....

3,139‌

2,979‌

L2477601.UP.FTS.B,

10.36%,

1/21/25

....

952‌

949‌

L2480719.UP.FTS.B,

10.39%,

1/21/25

....

9,517‌

9,486‌

L2478125.UP.FTS.B,

10.56%,

1/21/25

....

952‌

949‌

L2479062.UP.FTS.B,

10.79%,

1/21/25

....

1,904‌

1,898‌

FW2481731.UP.FTS.B,

11.13%,

1/21/25

..

3,220‌

3,209‌

FW2479385.UP.FTS.B,

11.38%,

1/21/25

..

9,524‌

9,490‌

FW2481101.UP.FTS.B,

11.5%,

1/21/25

...

1,905‌

1,898‌

L2432810.UP.FTS.B,

11.73%,

1/21/25

....

3,334‌

3,324‌

L2474988.UP.FTS.B,

11.93%,

1/21/25

....

13,719‌

13,671‌

L2478189.UP.FTS.B,

12.26%,

1/21/25

....

2,382‌

2,374‌

L2478459.UP.FTS.B,

12.7%,

1/21/25

....

3,527‌

3,515‌

L2476209.UP.FTS.B,

13.15%,

1/21/25

....

910‌

906‌

L2478954.UP.FTS.B,

13.18%,

1/21/25

....

3,051‌

3,041‌

L2479789.UP.FTS.B,

13.9%,

1/21/25

....

9,349‌

9,317‌

L2476233.UP.FTS.B,

14.14%,

1/21/25

....

751‌

745‌

L2479684.UP.FTS.B,

14.96%,

1/21/25

....

9,546‌

9,489‌

L2474275.UP.FTS.B,

16.61%,

1/21/25

....

2,294‌

2,280‌

L2478515.UP.FTS.B,

17.23%,

1/21/25

....

15,266‌

15,175‌

L2473348.UP.FTS.B,

17.39%,

1/21/25

....

16,732‌

16,635‌

L2480344.UP.FTS.B,

18.48%,

1/21/25

....

7,654‌

7,610‌

FW2475769.UP.FTS.B,

19.11%,

1/21/25

..

5,264‌

5,234‌

FW2476285.UP.FTS.B,

20.95%,

1/21/25

..

2,875‌

2,854‌

L2481290.UP.FTS.B,

21.16%,

1/21/25

....

2,396‌

2,382‌

FW2477321.UP.FTS.B,

21.33%,

1/21/25

..

1,913‌

1,899‌

L2476432.UP.FTS.B,

21.91%,

1/21/25

....

7,582‌

7,523‌

FW2478818.UP.FTS.B,

22.45%,

1/21/25

..

9,491‌

9,420‌

FW2480050.UP.FTS.B,

22.48%,

1/21/25

..

1,535‌

1,524‌

L2475641.UP.FTS.B,

23.24%,

1/21/25

....

960‌

953‌

L2478720.UP.FTS.B,

23.41%,

1/21/25

....

4,606‌

4,573‌

FW2481202.UP.FTS.B,

23.65%,

1/21/25

..

12,444‌

12,353‌

FW2476942.UP.FTS.B,

24.18%,

1/21/25

..

3,840‌

3,813‌

FW2481245.UP.FTS.B,

25.29%,

1/21/25

..

2,882‌

2,862‌

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW2480555.UP.FTS.B,

26.74%,

1/21/25

..

$

14,422‌

$

14,322‌

FW2476192.UP.FTS.B,

26.96%,

1/21/25

..

1,000‌

314‌

FW2476817.UP.FTS.B,

28.11%,

1/21/25

..

3,300‌

1,039‌

FW2475936.UP.FTS.B,

29.09%,

1/21/25

..

5,518‌

5,476‌

FW2477087.UP.FTS.B,

29.12%,

1/21/25

..

1,062‌

1,057‌

FW2476860.UP.FTS.B,

29.15%,

1/21/25

..

2,214‌

2,199‌

FW2478334.UP.FTS.B,

30.94%,

1/21/25

..

3,096‌

2,959‌

L2655442.UP.FTS.B,

6.28%,

2/18/25

....

1,461‌

1,459‌

L2653951.UP.FTS.B,

6.48%,

2/18/25

....

6,719‌

6,707‌

FW2654818.UP.FTS.B,

6.88%,

2/18/25

...

3,703‌

3,696‌

FW2654167.UP.FTS.B,

7.25%,

2/18/25

...

4,572‌

4,562‌

FW2655218.UP.FTS.B,

7.75%,

2/18/25

...

5,361‌

5,348‌

L2655641.UP.FTS.B,

8.17%,

2/18/25

....

9,746‌

9,724‌

L2654890.UP.FTS.B,

9.03%,

2/18/25

....

6,338‌

6,324‌

L2653470.UP.FTS.B,

9.9%,

2/18/25

.....

1,463‌

1,460‌

L2653301.UP.FTS.B,

10.24%,

2/18/25

....

2,634‌

2,628‌

L2657582.UP.FTS.B,

11.71%,

2/18/25

....

5,840‌

5,828‌

L2656552.UP.FTS.B,

11.92%,

2/18/25

....

3,754‌

3,741‌

FW2653772.UP.FTS.B,

12.73%,

2/18/25

..

4,881‌

4,868‌

L2655802.UP.FTS.B,

13.7%,

2/18/25

....

41,793‌

41,688‌

L2653391.UP.FTS.B,

13.94%,

2/18/25

....

4,883‌

4,870‌

L2657793.UP.FTS.B,

13.98%,

2/18/25

....

7,519‌

7,501‌

FW2657387.UP.FTS.B,

15.36%,

2/18/25

..

5,862‌

5,835‌

L2617545.UP.FTS.B,

16.16%,

2/18/25

....

12,605‌

12,545‌

FW2655306.UP.FTS.B,

16.76%,

2/18/25

..

977‌

973‌

L2653186.UP.FTS.B,

16.89%,

2/18/25

....

6,541‌

6,503‌

L2655104.UP.FTS.B,

17.75%,

2/18/25

....

4,888‌

4,877‌

L2657566.UP.FTS.B,

18.69%,

2/18/25

....

8,874‌

8,813‌

L2655817.UP.FTS.B,

19.32%,

2/18/25

....

3,912‌

3,895‌

L2656721.UP.FTS.B,

19.78%,

2/18/25

....

1,463‌

1,456‌

FW2657575.UP.FTS.B,

20.06%,

2/18/25

..

1,761‌

1,753‌

L2657454.UP.FTS.B,

20.2%,

2/18/25

....

4,402‌

4,384‌

FW2653011.UP.FTS.B,

20.27%,

2/18/25

..

3,129‌

3,115‌

L2655839.UP.FTS.B,

20.67%,

2/18/25

....

4,892‌

4,871‌

FW2655495.UP.FTS.B,

20.76%,

2/18/25

..

6,946‌

6,918‌

L2656549.UP.FTS.B,

21.62%,

2/18/25

....

8,318‌

8,284‌

FW2655578.UP.FTS.B,

21.77%,

2/18/25

..

2,936‌

2,924‌

FW2657732.UP.FTS.B,

23.41%,

2/18/25

..

10,671‌

10,614‌

FW2653083.UP.FTS.B,

23.65%,

2/18/25

..

4,700‌

4,674‌

FW2657763.UP.FTS.B,

25.51%,

2/18/25

..

1,959‌

1,949‌

FW2655547.UP.FTS.B,

26.23%,

2/18/25

..

16,600‌

16,497‌

FW2651300.UP.FTS.B,

26.41%,

2/18/25

..

9,667‌

9,610‌

L2655816.UP.FTS.B,

26.47%,

2/18/25

....

12,791‌

12,761‌

FW2654511.UP.FTS.B,

27.31%,

2/18/25

..

13,200‌

12,747‌

FW2653018.UP.FTS.B,

28.19%,

2/18/25

..

5,783‌

5,754‌

FW2655008.UP.FTS.B,

28.32%,

2/18/25

..

3,921‌

3,901‌

FW2656373.UP.FTS.B,

28.99%,

2/18/25

..

2,668‌

2,663‌

FW2656467.UP.FTS.B,

30.63%,

2/18/25

..

3,838‌

3,830‌

L2789474.UP.FTS.B,

5.35%,

3/14/25

....

50,000‌

50,072‌

L2789842.UP.FTS.B,

5.91%,

3/14/25

....

1,500‌

1,502‌

L2783988.UP.FTS.B,

5.98%,

3/14/25

....

5,300‌

5,294‌

L2780157.UP.FTS.B,

6.21%,

3/14/25

....

20,000‌

20,030‌

FW2782638.UP.FTS.B,

6.35%,

3/14/25

...

3,000‌

3,004‌

L2783169.UP.FTS.B,

6.72%,

3/14/25

....

24,200‌

24,175‌

L2789162.UP.FTS.B,

6.79%,

3/14/25

....

5,500‌

5,494‌

L2786745.UP.FTS.B,

6.82%,

3/14/25

....

15,000‌

14,985‌

L2781429.UP.FTS.B,

7.28%,

3/14/25

....

5,000‌

5,008‌

L2790004.UP.FTS.B,

7.29%,

3/14/25

....

1,100‌

1,102‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

81

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

FW2780242.UP.FTS.B,

7.32%,

3/14/25

...

$

6,000‌

$

6,009‌

L2782324.UP.FTS.B,

7.51%,

3/14/25

....

2,200‌

2,203‌

L2788273.UP.FTS.B,

7.87%,

3/14/25

....

12,000‌

11,989‌

L2780817.UP.FTS.B,

8.23%,

3/14/25

....

15,000‌

14,975‌

L2779758.UP.FTS.B,

8.44%,

3/14/25

....

10,700‌

10,723‌

L2708925.UP.FTS.B,

8.54%,

3/14/25

....

16,000‌

15,974‌

L2783157.UP.FTS.B,

8.64%,

3/14/25

....

3,500‌

3,506‌

L2782839.UP.FTS.B,

8.65%,

3/14/25

....

19,100‌

19,142‌

L2785968.UP.FTS.B,

8.8%,

3/14/25

.....

1,900‌

1,904‌

L2790033.UP.FTS.B,

8.96%,

3/14/25

....

7,400‌

7,416‌

L2788652.UP.FTS.B,

9.29%,

3/14/25

....

35,000‌

35,077‌

FW2780431.UP.FTS.B,

9.37%,

3/14/25

...

2,000‌

1,997‌

L2786390.UP.FTS.B,

9.45%,

3/14/25

....

9,714‌

9,695‌

L2787312.UP.FTS.B,

9.5%,

3/14/25

.....

5,300‌

5,312‌

FW2789186.UP.FTS.B,

9.55%,

3/14/25

...

5,000‌

5,011‌

L2785304.UP.FTS.B,

9.7%,

3/14/25

.....

1,700‌

1,697‌

L2785539.UP.FTS.B,

9.79%,

3/14/25

....

1,200‌

1,203‌

L2782831.UP.FTS.B,

9.91%,

3/14/25

....

40,000‌

40,089‌

FW2781202.UP.FTS.B,

9.95%,

3/14/25

...

8,600‌

8,587‌

L2787472.UP.FTS.B,

9.97%,

3/14/25

....

9,200‌

9,186‌

L2787034.UP.FTS.B,

10%,

3/14/25

......

16,200‌

16,175‌

L2784267.UP.FTS.B,

10.12%,

3/14/25

....

2,100‌

2,097‌

L2784498.UP.FTS.B,

10.44%,

3/14/25

....

50,000‌

50,113‌

L2783322.UP.FTS.B,

10.63%,

3/14/25

....

5,100‌

5,112‌

L2787630.UP.FTS.B,

10.63%,

3/14/25

....

1,700‌

1,697‌

L2785259.UP.FTS.B,

10.84%,

3/14/25

....

1,000‌

1,002‌

L2786487.UP.FTS.B,

10.88%,

3/14/25

....

7,500‌

7,517‌

L2785595.UP.FTS.B,

11.03%,

3/14/25

....

13,000‌

12,981‌

L2789559.UP.FTS.B,

11.03%,

3/14/25

....

1,000‌

1,002‌

FW2790618.UP.FTS.B,

11.07%,

3/14/25

..

3,000‌

3,009‌

L2782966.UP.FTS.B,

11.1%,

3/14/25

.....

1,500‌

1,498‌

L2784868.UP.FTS.B,

11.13%,

3/14/25

....

5,400‌

5,412‌

L2785211.UP.FTS.B,

11.19%,

3/14/25

....

2,200‌

2,205‌

L2783479.UP.FTS.B,

11.22%,

3/14/25

....

10,438‌

10,420‌

L2782573.UP.FTS.B,

11.29%,

3/14/25

....

8,000‌

8,025‌

L2781507.UP.FTS.B,

11.44%,

3/14/25

....

5,400‌

5,392‌

FW2785947.UP.FTS.B,

11.48%,

3/14/25

..

4,300‌

4,294‌

L2785788.UP.FTS.B,

11.62%,

3/14/25

....

44,000‌

44,140‌

FW2782834.UP.FTS.B,

11.66%,

3/14/25

..

11,000‌

11,035‌

L2788361.UP.FTS.B,

11.71%,

3/14/25

....

7,700‌

7,725‌

L2780551.UP.FTS.B,

11.74%,

3/14/25

....

2,800‌

2,806‌

FW2789650.UP.FTS.B,

11.79%,

3/14/25

..

1,000‌

1,002‌

L2782511.UP.FTS.B,

12.01%,

3/14/25

....

3,300‌

3,292‌

L2783638.UP.FTS.B,

12.12%,

3/14/25

....

8,000‌

8,026‌

L2779357.UP.FTS.B,

12.15%,

3/14/25

....

5,000‌

5,016‌

FW2784198.UP.FTS.B,

12.17%,

3/14/25

..

983‌

980‌

L2781981.UP.FTS.B,

12.17%,

3/14/25

....

1,000‌

997‌

L2782243.UP.FTS.B,

12.19%,

3/14/25

....

3,800‌

3,797‌

FW2790770.UP.FTS.B,

12.38%,

3/14/25

..

8,500‌

8,488‌

L2785153.UP.FTS.B,

12.45%,

3/14/25

....

6,600‌

6,621‌

L2785167.UP.FTS.B,

12.55%,

3/14/25

....

10,000‌

10,032‌

FW2786116.UP.FTS.B,

12.62%,

3/14/25

..

2,800‌

2,809‌

FW2783254.UP.FTS.B,

12.63%,

3/14/25

..

6,000‌

6,014‌

L2789368.UP.FTS.B,

12.79%,

3/14/25

....

5,500‌

5,518‌

L2783321.UP.FTS.B,

13.02%,

3/14/25

....

1,000‌

1,003‌

L2784984.UP.FTS.B,

13.04%,

3/14/25

....

581‌

578‌

L2788344.UP.FTS.B,

13.05%,

3/14/25

....

8,000‌

8,026‌

L2779841.UP.FTS.B,

13.12%,

3/14/25

....

10,000‌

10,032‌

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW2788740.UP.FTS.B,

13.18%,

3/14/25

..

$

9,600‌

$

9,623‌

L2783727.UP.FTS.B,

13.21%,

3/14/25

....

13,500‌

13,532‌

L2786541.UP.FTS.B,

13.29%,

3/14/25

....

12,000‌

11,971‌

FW2788515.UP.FTS.B,

13.37%,

3/14/25

..

2,510‌

2,496‌

L2785544.UP.FTS.B,

13.44%,

3/14/25

....

4,000‌

3,990‌

L2782596.UP.FTS.B,

13.62%,

3/14/25

....

3,500‌

3,511‌

L2781476.UP.FTS.B,

13.87%,

3/14/25

....

30,000‌

30,138‌

L2785233.UP.FTS.B,

13.96%,

3/14/25

....

3,000‌

2,993‌

L2785794.UP.FTS.B,

14%,

3/14/25

......

2,500‌

2,508‌

L2782270.UP.FTS.B,

14.18%,

3/14/25

....

1,500‌

1,496‌

L2783992.UP.FTS.B,

14.35%,

3/14/25

....

5,000‌

5,016‌

L2783494.UP.FTS.B,

14.52%,

3/14/25

....

13,900‌

13,946‌

L2789819.UP.FTS.B,

14.63%,

3/14/25

....

13,000‌

12,948‌

L2789562.UP.FTS.B,

14.72%,

3/14/25

....

6,000‌

6,028‌

FW2782628.UP.FTS.B,

14.81%,

3/14/25

..

8,700‌

8,665‌

FW2784953.UP.FTS.B,

14.86%,

3/14/25

..

15,300‌

15,371‌

FW2785548.UP.FTS.B,

14.88%,

3/14/25

..

4,300‌

4,295‌

L2781813.UP.FTS.B,

14.88%,

3/14/25

....

8,200‌

8,238‌

L2781432.UP.FTS.B,

14.97%,

3/14/25

....

10,000‌

10,033‌

L2786094.UP.FTS.B,

14.97%,

3/14/25

....

3,800‌

3,813‌

L2781532.UP.FTS.B,

15.01%,

3/14/25

....

6,000‌

5,986‌

FW2788311.UP.FTS.B,

15.07%,

3/14/25

..

7,200‌

7,171‌

L2782136.UP.FTS.B,

15.09%,

3/14/25

....

2,000‌

2,007‌

L2778950.UP.FTS.B,

15.29%,

3/14/25

....

9,200‌

9,243‌

L2785708.UP.FTS.B,

15.57%,

3/14/25

....

10,900‌

10,857‌

FW2783963.UP.FTS.B,

15.58%,

3/14/25

..

21,800‌

21,901‌

L2789802.UP.FTS.B,

15.69%,

3/14/25

....

2,500‌

2,512‌

FW2788419.UP.FTS.B,

15.73%,

3/14/25

..

23,000‌

22,910‌

L2784175.UP.FTS.B,

15.73%,

3/14/25

....

18,800‌

18,778‌

L2782299.UP.FTS.B,

15.8%,

3/14/25

....

1,100‌

1,105‌

FW2784025.UP.FTS.B,

15.87%,

3/14/25

..

13,100‌

13,161‌

L2784998.UP.FTS.B,

16.04%,

3/14/25

....

3,000‌

3,014‌

L2785503.UP.FTS.B,

16.11%,

3/14/25

....

2,200‌

2,191‌

L2783447.UP.FTS.B,

16.16%,

3/14/25

....

15,000‌

15,050‌

L2784731.UP.FTS.B,

16.18%,

3/14/25

....

21,300‌

21,372‌

FW2788810.UP.FTS.B,

16.29%,

3/14/25

..

2,500‌

2,512‌

L2789486.UP.FTS.B,

16.29%,

3/14/25

....

2,500‌

2,494‌

L2788498.UP.FTS.B,

16.38%,

3/14/25

....

4,400‌

4,421‌

FW2785887.UP.FTS.B,

16.41%,

3/14/25

..

3,100‌

3,115‌

L2785408.UP.FTS.B,

16.48%,

3/14/25

....

7,700‌

7,736‌

L2782850.UP.FTS.B,

16.52%,

3/14/25

....

10,000‌

9,961‌

FW2783979.UP.FTS.B,

16.68%,

3/14/25

..

9,000‌

9,042‌

L2784318.UP.FTS.B,

16.69%,

3/14/25

....

6,000‌

6,015‌

L2784821.UP.FTS.B,

16.79%,

3/14/25

....

12,500‌

12,452‌

L2783908.UP.FTS.B,

16.9%,

3/14/25

....

5,500‌

5,526‌

FW2784509.UP.FTS.B,

16.95%,

3/14/25

..

7,000‌

7,033‌

FW2782202.UP.FTS.B,

17.05%,

3/14/25

..

1,000‌

996‌

FW2789714.UP.FTS.B,

17.13%,

3/14/25

..

6,500‌

6,531‌

L2783618.UP.FTS.B,

17.2%,

3/14/25

....

6,000‌

6,028‌

L2786224.UP.FTS.B,

17.23%,

3/14/25

....

10,900‌

10,858‌

FW2787467.UP.FTS.B,

17.25%,

3/14/25

..

1,700‌

1,708‌

L2786989.UP.FTS.B,

17.31%,

3/14/25

....

8,500‌

8,467‌

FW2779702.UP.FTS.B,

17.41%,

3/14/25

..

6,600‌

6,575‌

L2786076.UP.FTS.B,

17.41%,

3/14/25

....

9,000‌

9,043‌

L2781269.UP.FTS.B,

17.46%,

3/14/25

....

5,000‌

5,024‌

L2781160.UP.FTS.B,

17.47%,

3/14/25

....

4,900‌

4,881‌

L2788162.UP.FTS.B,

17.53%,

3/14/25

....

5,500‌

5,479‌

L2779966.UP.FTS.B,

17.65%,

3/14/25

....

10,900‌

10,858‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

82

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2786520.UP.FTS.B,

17.67%,

3/14/25

....

$

6,800‌

$

6,832‌

L2780503.UP.FTS.B,

17.92%,

3/14/25

....

2,000‌

2,009‌

L2786774.UP.FTS.B,

18.02%,

3/14/25

....

3,574‌

3,556‌

FW2789882.UP.FTS.B,

18.22%,

3/14/25

..

3,000‌

2,989‌

L2766917.UP.FTS.B,

18.31%,

3/14/25

....

1,100‌

1,096‌

FW2789731.UP.FTS.B,

18.32%,

3/14/25

..

5,000‌

4,981‌

L2786748.UP.FTS.B,

18.37%,

3/14/25

....

10,700‌

10,660‌

FW2780590.UP.FTS.B,

18.65%,

3/14/25

..

2,000‌

1,992‌

L2783174.UP.FTS.B,

18.69%,

3/14/25

....

2,500‌

2,491‌

L2785530.UP.FTS.B,

18.7%,

3/14/25

....

5,000‌

5,024‌

L2785856.UP.FTS.B,

18.71%,

3/14/25

....

8,000‌

8,038‌

L2788322.UP.FTS.B,

18.8%,

3/14/25

....

2,300‌

2,291‌

L2779959.UP.FTS.B,

18.94%,

3/14/25

....

1,100‌

1,096‌

FW2784761.UP.FTS.B,

18.96%,

3/14/25

..

20,000‌

20,096‌

L2782041.UP.FTS.B,

18.96%,

3/14/25

....

8,000‌

7,970‌

FW2790469.UP.FTS.B,

19.06%,

3/14/25

..

1,500‌

1,494‌

FW2780647.UP.FTS.B,

19.08%,

3/14/25

..

10,000‌

10,048‌

L2787982.UP.FTS.B,

19.09%,

3/14/25

....

4,300‌

4,284‌

L2783772.UP.FTS.B,

19.16%,

3/14/25

....

10,000‌

9,963‌

FW2786850.UP.FTS.B,

19.26%,

3/14/25

..

1,700‌

1,694‌

FW2778977.UP.FTS.B,

19.75%,

3/14/25

..

2,200‌

2,211‌

L2787240.UP.FTS.B,

19.8%,

3/14/25

....

3,000‌

3,014‌

L2785622.UP.FTS.B,

19.86%,

3/14/25

....

6,500‌

6,476‌

L2784153.UP.FTS.B,

19.87%,

3/14/25

....

7,600‌

7,637‌

L2780057.UP.FTS.B,

19.94%,

3/14/25

....

5,000‌

5,024‌

FW2782744.UP.FTS.B,

20.04%,

3/14/25

..

1,700‌

1,694‌

L2787194.UP.FTS.B,

20.08%,

3/14/25

....

1,100‌

1,105‌

L2782253.UP.FTS.B,

20.12%,

3/14/25

....

10,000‌

9,963‌

FW2785768.UP.FTS.B,

20.17%,

3/14/25

..

1,000‌

1,005‌

L2786753.UP.FTS.B,

20.23%,

3/14/25

....

5,400‌

5,380‌

L2780437.UP.FTS.B,

20.28%,

3/14/25

....

3,300‌

3,316‌

L2785203.UP.FTS.B,

20.46%,

3/14/25

....

5,500‌

5,527‌

L2780756.UP.FTS.B,

20.48%,

3/14/25

....

1,100‌

1,096‌

L2789915.UP.FTS.B,

20.54%,

3/14/25

....

2,500‌

2,491‌

L2785534.UP.FTS.B,

20.67%,

3/14/25

....

2,200‌

2,192‌

L2784274.UP.FTS.B,

20.74%,

3/14/25

....

50,000‌

50,242‌

L2781043.UP.FTS.B,

20.76%,

3/14/25

....

13,000‌

12,953‌

FW2783539.UP.FTS.B,

20.82%,

3/14/25

..

8,718‌

8,667‌

L2780491.UP.FTS.B,

20.92%,

3/14/25

....

21,800‌

21,906‌

L2786126.UP.FTS.B,

20.92%,

3/14/25

....

8,000‌

8,039‌

FW2782841.UP.FTS.B,

20.97%,

3/14/25

..

15,000‌

15,091‌

L2780795.UP.FTS.B,

20.98%,

3/14/25

....

3,700‌

3,681‌

FW2783839.UP.FTS.B,

21.06%,

3/14/25

..

1,000‌

995‌

L2785016.UP.FTS.B,

21.17%,

3/14/25

....

2,000‌

1,990‌

FW2781273.UP.FTS.B,

21.18%,

3/14/25

..

7,500‌

7,461‌

L2781598.UP.FTS.B,

21.22%,

3/14/25

....

1,700‌

1,694‌

L2782241.UP.FTS.B,

21.23%,

3/14/25

....

3,400‌

3,417‌

FW2784134.UP.FTS.B,

21.24%,

3/14/25

..

2,200‌

2,189‌

L2785725.UP.FTS.B,

21.29%,

3/14/25

....

1,500‌

1,495‌

L2787109.UP.FTS.B,

21.35%,

3/14/25

....

6,764‌

6,723‌

L2782350.UP.FTS.B,

21.46%,

3/14/25

....

1,500‌

1,492‌

L2781274.UP.FTS.B,

21.7%,

3/14/25

....

2,200‌

2,189‌

L2787578.UP.FTS.B,

21.76%,

3/14/25

....

6,000‌

5,969‌

L2764146.UP.FTS.B,

21.8%,

3/14/25

....

6,000‌

6,029‌

L2784966.UP.FTS.B,

21.92%,

3/14/25

....

1,100‌

1,096‌

FW2782777.UP.FTS.B,

21.93%,

3/14/25

..

2,600‌

2,613‌

L2781446.UP.FTS.B,

21.97%,

3/14/25

....

9,000‌

8,954‌

L2789525.UP.FTS.B,

21.99%,

3/14/25

....

1,300‌

1,306‌

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L2782964.UP.FTS.B,

22.07%,

3/14/25

....

$

2,000‌

$

2,012‌

L2781760.UP.FTS.B,

22.09%,

3/14/25

....

13,000‌

13,079‌

FW2781316.UP.FTS.B,

22.36%,

3/14/25

..

20,000‌

19,899‌

FW2789435.UP.FTS.B,

22.36%,

3/14/25

..

29,200‌

29,096‌

L2782582.UP.FTS.B,

22.37%,

3/14/25

....

5,500‌

5,534‌

L2784782.UP.FTS.B,

22.37%,

3/14/25

....

8,000‌

7,959‌

L2783098.UP.FTS.B,

22.41%,

3/14/25

....

2,500‌

2,487‌

L2782645.UP.FTS.B,

22.52%,

3/14/25

....

15,000‌

15,092‌

FW2785697.UP.FTS.B,

22.53%,

3/14/25

..

4,800‌

4,829‌

FW2787008.UP.FTS.B,

22.54%,

3/14/25

..

4,400‌

4,378‌

FW2784790.UP.FTS.B,

22.6%,

3/14/25

...

50,000‌

50,306‌

FW2787563.UP.FTS.B,

22.68%,

3/14/25

..

3,000‌

2,985‌

L2782764.UP.FTS.B,

22.75%,

3/14/25

....

11,600‌

11,671‌

L2779839.UP.FTS.B,

22.77%,

3/14/25

....

7,500‌

7,546‌

FW2785249.UP.FTS.B,

22.94%,

3/14/25

..

7,000‌

6,965‌

FW2780300.UP.FTS.B,

22.97%,

3/14/25

..

10,000‌

10,061‌

FW2780584.UP.FTS.B,

23.25%,

3/14/25

..

3,000‌

3,018‌

L2783469.UP.FTS.B,

23.3%,

3/14/25

....

8,000‌

8,049‌

L2783145.UP.FTS.B,

23.33%,

3/14/25

....

6,000‌

5,970‌

FW2787943.UP.FTS.B,

23.37%,

3/14/25

..

9,000‌

8,955‌

L2789538.UP.FTS.B,

23.38%,

3/14/25

....

25,000‌

24,913‌

L2785409.UP.FTS.B,

23.39%,

3/14/25

....

2,300‌

2,314‌

L2780571.UP.FTS.B,

23.44%,

3/14/25

....

4,300‌

4,278‌

L2784074.UP.FTS.B,

23.45%,

3/14/25

....

4,100‌

4,125‌

FW2781159.UP.FTS.B,

23.58%,

3/14/25

..

11,000‌

11,068‌

L2782524.UP.FTS.B,

23.58%,

3/14/25

....

5,500‌

5,481‌

FW2785805.UP.FTS.B,

23.86%,

3/14/25

..

5,000‌

4,975‌

L2783113.UP.FTS.B,

24.07%,

3/14/25

....

5,400‌

5,373‌

L2785522.UP.FTS.B,

24.27%,

3/14/25

....

9,700‌

9,667‌

FW2782623.UP.FTS.B,

24.39%,

3/14/25

..

1,100‌

1,105‌

FW2786582.UP.FTS.B,

24.5%,

3/14/25

...

8,600‌

8,653‌

FW2787195.UP.FTS.B,

24.53%,

3/14/25

..

10,900‌

10,967‌

FW2780513.UP.FTS.B,

24.57%,

3/14/25

..

30,000‌

30,185‌

FW2785447.UP.FTS.B,

24.58%,

3/14/25

..

3,300‌

3,284‌

FW2783940.UP.FTS.B,

24.74%,

3/14/25

..

1,000‌

1,005‌

FW2787085.UP.FTS.B,

24.9%,

3/14/25

...

3,000‌

3,019‌

FW2788926.UP.FTS.B,

24.92%,

3/14/25

..

10,900‌

10,967‌

FW2790447.UP.FTS.B,

25.02%,

3/14/25

..

3,300‌

3,284‌

FW2783385.UP.FTS.B,

25.17%,

3/14/25

..

3,300‌

3,320‌

L2783518.UP.FTS.B,

25.17%,

3/14/25

....

6,800‌

6,842‌

L2783225.UP.FTS.B,

25.22%,

3/14/25

....

16,000‌

16,099‌

FW2788009.UP.FTS.B,

25.24%,

3/14/25

..

29,500‌

29,355‌

FW2784542.UP.FTS.B,

25.52%,

3/14/25

..

3,800‌

3,824‌

FW2784178.UP.FTS.B,

25.84%,

3/14/25

..

5,300‌

5,274‌

FW2789028.UP.FTS.B,

25.9%,

3/14/25

...

5,000‌

5,031‌

FW2785977.UP.FTS.B,

25.94%,

3/14/25

..

10,900‌

10,968‌

FW2784372.UP.FTS.B,

26.05%,

3/14/25

..

7,000‌

7,043‌

FW2781035.UP.FTS.B,

26.41%,

3/14/25

..

1,000‌

995‌

FW2788636.UP.FTS.B,

26.45%,

3/14/25

..

6,600‌

6,641‌

FW2789498.UP.FTS.B,

26.58%,

3/14/25

..

2,000‌

2,012‌

FW2786035.UP.FTS.B,

26.63%,

3/14/25

..

5,500‌

5,534‌

FW2779777.UP.FTS.B,

26.66%,

3/14/25

..

4,500‌

4,478‌

FW2784566.UP.FTS.B,

26.76%,

3/14/25

..

10,000‌

9,952‌

FW2785381.UP.FTS.B,

26.83%,

3/14/25

..

1,700‌

1,692‌

FW2785390.UP.FTS.B,

26.83%,

3/14/25

..

4,200‌

4,226‌

L2780006.UP.FTS.B,

27.11%,

3/14/25

....

7,500‌

7,547‌

FW2790114.UP.FTS.B,

27.17%,

3/14/25

..

10,800‌

10,748‌

FW2782084.UP.FTS.B,

27.29%,

3/14/25

..

7,600‌

7,564‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

83

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

FW2783896.UP.FTS.B,

27.54%,

3/14/25

..

$

5,000‌

$

5,031‌

FW2779916.UP.FTS.B,

27.77%,

3/14/25

..

2,800‌

2,818‌

FW2789387.UP.FTS.B,

27.95%,

3/14/25

..

2,200‌

2,190‌

L2781349.UP.FTS.B,

28.09%,

3/14/25

....

6,000‌

6,038‌

FW2787819.UP.FTS.B,

28.48%,

3/14/25

..

1,100‌

1,095‌

FW2782934.UP.FTS.B,

28.68%,

3/14/25

..

4,600‌

4,578‌

FW2780423.UP.FTS.B,

28.69%,

3/14/25

..

1,500‌

1,493‌

FW2780476.UP.FTS.B,

28.97%,

3/14/25

..

7,100‌

7,145‌

FW2788507.UP.FTS.B,

29.01%,

3/14/25

..

5,900‌

5,937‌

FW2783040.UP.FTS.B,

29.02%,

3/14/25

..

2,000‌

2,013‌

FW2784820.UP.FTS.B,

29.05%,

3/14/25

..

3,000‌

2,986‌

FW2786944.UP.FTS.B,

29.17%,

3/14/25

..

4,400‌

4,428‌

FW2779949.UP.FTS.B,

29.18%,

3/14/25

..

6,000‌

6,038‌

FW2788202.UP.FTS.B,

29.19%,

3/14/25

..

7,500‌

7,465‌

FW2786097.UP.FTS.B,

29.2%,

3/14/25

...

3,600‌

3,623‌

FW2783344.UP.FTS.B,

32.05%,

3/14/25

..

1,700‌

1,692‌

FW2783771.UP.FTS.B,

32.99%,

3/14/25

..

2,200‌

2,214‌

FW2789039.UP.FTS.B,

33.98%,

3/14/25

..

6,700‌

6,670‌

L1695146.UP.FTS.B,

9.05%,

9/16/26

....

14,684‌

14,615‌

L1722215.UP.FTS.B,

9.39%,

9/16/26

....

4,577‌

4,555‌

L1721236.UP.FTS.B,

9.48%,

9/16/26

....

11,034‌

10,983‌

FW1721203.UP.FTS.B,

9.61%,

9/16/26

...

7,354‌

7,319‌

FW1720766.UP.FTS.B,

10.27%,

9/16/26

..

13,815‌

13,716‌

L1721509.UP.FTS.B,

11.2%,

9/16/26

.....

18,455‌

18,323‌

FW1720612.UP.FTS.B,

11.37%,

9/16/26

..

11,077‌

10,998‌

L1722234.UP.FTS.B,

12.18%,

9/16/26

....

9,245‌

9,180‌

FW1721436.UP.FTS.B,

14.47%,

9/16/26

..

25,295‌

25,007‌

L1720338.UP.FTS.B,

15.39%,

9/16/26

....

13,953‌

13,804‌

FW1716737.UP.FTS.B,

16.3%,

9/16/26

...

2,795‌

2,766‌

L1721497.UP.FTS.B,

16.37%,

9/16/26

....

7,455‌

7,376‌

FW1720748.UP.FTS.B,

16.61%,

9/16/26

..

4,661‌

4,612‌

L1721580.UP.FTS.B,

17.18%,

9/16/26

....

1,400‌

1,385‌

L1721613.UP.FTS.B,

17.32%,

9/16/26

....

7,001‌

6,927‌

L1722493.UP.FTS.B,

18.38%,

9/16/26

....

13,093‌

12,955‌

FW1721771.UP.FTS.B,

20.18%,

9/16/26

..

5,628‌

5,584‌

L1710192.UP.FTS.B,

20.32%,

9/16/26

....

9,382‌

9,308‌

L1721230.UP.FTS.B,

20.43%,

9/16/26

....

5,631‌

5,586‌

L1721277.UP.FTS.B,

20.7%,

9/16/26

....

23,471‌

23,164‌

L1722523.UP.FTS.B,

21.72%,

9/16/26

....

3,291‌

3,265‌

FW1722389.UP.FTS.B,

21.83%,

9/16/26

..

23,576‌

23,385‌

L1720169.UP.FTS.B,

22.01%,

9/16/26

....

42,627‌

42,293‌

L1720140.UP.FTS.B,

22.6%,

9/16/26

....

16,952‌

16,819‌

L1721376.UP.FTS.B,

23.35%,

9/16/26

....

2,000‌

144‌

L1722117.UP.FTS.B,

23.46%,

9/16/26

....

9,430‌

9,356‌

L1721053.UP.FTS.B,

24.81%,

9/16/26

....

9,449‌

9,376‌

FW1720353.UP.FTS.B,

25.01%,

9/16/26

..

3,781‌

3,751‌

L1719755.UP.FTS.B,

25.09%,

9/16/26

....

3,112‌

3,071‌

FW1717780.UP.FTS.B,

25.12%,

9/16/26

..

8,814‌

8,744‌

L1720842.UP.FTS.B,

25.22%,

9/16/26

....

1,543‌

1,528‌

L1720447.UP.FTS.B,

25.28%,

9/16/26

....

13,635‌

13,526‌

L1701794.UP.FTS.B,

25.32%,

9/16/26

....

25,991‌

25,788‌

L1712934.UP.FTS.B,

25.32%,

9/16/26

....

7,773‌

7,701‌

L1722528.UP.FTS.B,

25.34%,

9/16/26

....

3,665‌

3,636‌

FW1720537.UP.FTS.B,

25.44%,

9/16/26

..

4,774‌

4,739‌

L1721003.UP.FTS.B,

25.67%,

9/16/26

....

7,947‌

7,886‌

FW1720056.UP.FTS.B,

25.74%,

9/16/26

..

9,462‌

9,389‌

L1722725.UP.FTS.B,

25.76%,

9/16/26

....

1,420‌

1,409‌

FW1720865.UP.FTS.B,

26.03%,

9/16/26

..

2,272‌

2,254‌

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L1701780.UP.FTS.B,

26.48%,

9/16/26

....

$

9,124‌

$

9,043‌

L1716847.UP.FTS.B,

26.49%,

9/16/26

....

6,048‌

6,000‌

FW1712932.UP.FTS.B,

26.56%,

9/16/26

..

5,502‌

5,451‌

L1722547.UP.FTS.B,

26.6%,

9/16/26

....

3,152‌

3,123‌

FW1721612.UP.FTS.B,

26.87%,

9/16/26

..

4,870‌

4,822‌

FW1722067.UP.FTS.B,

26.89%,

9/16/26

..

7,511‌

7,448‌

FW1721156.UP.FTS.B,

26.95%,

9/16/26

..

20,853‌

20,692‌

FW1720620.UP.FTS.B,

27.29%,

9/16/26

..

7,587‌

7,528‌

FW1720421.UP.FTS.B,

27.95%,

9/16/26

..

5,695‌

5,651‌

FW1722591.UP.FTS.B,

28.03%,

9/16/26

..

4,748‌

4,711‌

FW1722580.UP.FTS.B,

28.29%,

9/16/26

..

2,905‌

2,759‌

FW1722328.UP.FTS.B,

28.64%,

9/16/26

..

12,896‌

463‌

FW1722554.UP.FTS.B,

28.88%,

9/16/26

..

1,598‌

1,584‌

FW1720962.UP.FTS.B,

28.99%,

9/16/26

..

8,719‌

2,558‌

FW1722218.UP.FTS.B,

29.06%,

9/16/26

..

4,764‌

4,728‌

FW1720737.UP.FTS.B,

29.83%,

9/16/26

..

2,928‌

2,904‌

FW1720488.UP.FTS.B,

29.98%,

9/16/26

..

1,033‌

1,024‌

FW1722039.UP.FTS.B,

30.1%,

9/16/26

...

7,442‌

520‌

FW1700325.UP.FTS.B,

30.13%,

9/16/26

..

1,142‌

1,133‌

FW1720986.UP.FTS.B,

30.57%,

9/16/26

..

917‌

908‌

FW1721453.UP.FTS.B,

30.57%,

9/16/26

..

9,775‌

1,457‌

FW1718876.UP.FTS.B,

30.65%,

9/16/26

..

2,200‌

380‌

FW1720294.UP.FTS.B,

30.66%,

9/16/26

..

2,382‌

2,364‌

FW1722610.UP.FTS.B,

30.76%,

9/16/26

..

2,432‌

2,310‌

FW1721073.UP.FTS.B,

30.77%,

9/16/26

..

5,000‌

354‌

FW1719851.UP.FTS.B,

30.98%,

9/16/26

..

8,482‌

8,418‌

FW1718739.UP.FTS.B,

31.08%,

9/16/26

..

3,176‌

52‌

FW1722651.UP.FTS.B,

31.1%,

9/16/26

...

2,857‌

2,835‌

FW1721917.UP.FTS.B,

31.13%,

9/16/26

..

5,000‌

348‌

FW1722663.UP.FTS.B,

31.38%,

9/16/26

..

1,670‌

116‌

FW1716789.UP.FTS.B,

31.43%,

9/16/26

..

9,521‌

9,448‌

FW1720288.UP.FTS.B,

31.89%,

9/16/26

..

14,326‌

14,188‌

FW1720530.UP.FTS.B,

31.99%,

9/16/26

..

4,566‌

317‌

L1891523.UP.FTS.B,

6.93%,

10/21/26

....

14,864‌

14,805‌

L1859672.UP.FTS.B,

7.74%,

10/21/26

....

13,956‌

13,901‌

L1892737.UP.FTS.B,

13.13%,

10/21/26

...

413‌

410‌

FW1893306.UP.FTS.B,

13.33%,

10/21/26

.

11,271‌

11,206‌

L1892951.UP.FTS.B,

14.33%,

10/21/26

...

4,613‌

4,585‌

L1893967.UP.FTS.B,

14.49%,

10/21/26

...

1,851‌

1,840‌

FW1892411.UP.FTS.B,

14.52%,

10/21/26

.

23,526‌

23,392‌

L1894153.UP.FTS.B,

14.72%,

10/21/26

...

13,649‌

13,572‌

L1894414.UP.FTS.B,

14.79%,

10/21/26

...

6,778‌

6,740‌

L1894936.UP.FTS.B,

16.25%,

10/21/26

...

5,661‌

5,611‌

FW1895480.UP.FTS.B,

16.41%,

10/21/26

.

12,269‌

12,133‌

L1888076.UP.FTS.B,

16.55%,

10/21/26

...

31,151‌

30,877‌

L1890982.UP.FTS.B,

16.75%,

10/21/26

...

6,610‌

6,552‌

FW1890892.UP.FTS.B,

16.8%,

10/21/26

..

8,849‌

8,769‌

L1893975.UP.FTS.B,

17.21%,

10/21/26

...

10,205‌

10,115‌

FW1894387.UP.FTS.B,

17.87%,

10/21/26

.

5,674‌

5,611‌

L1891449.UP.FTS.B,

18.06%,

10/21/26

...

15,515‌

15,345‌

FW1894844.UP.FTS.B,

18.47%,

10/21/26

.

21,806‌

21,581‌

FW1896078.UP.FTS.B,

18.57%,

10/21/26

.

5,870‌

5,838‌

L1894129.UP.FTS.B,

19.51%,

10/21/26

...

3,090‌

3,062‌

L1892072.UP.FTS.B,

19.65%,

10/21/26

...

5,215‌

5,158‌

L1891212.UP.FTS.B,

19.72%,

10/21/26

...

11,329‌

10,711‌

L1889041.UP.FTS.B,

19.76%,

10/21/26

...

1,423‌

1,407‌

L1895096.UP.FTS.B,

19.8%,

10/21/26

....

9,604‌

9,080‌

FW1894672.UP.FTS.B,

20.2%,

10/21/26

..

5,694‌

5,632‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

84

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L1892098.UP.FTS.B,

20.43%,

10/21/26

...

$

10,269‌

$

10,207‌

L1895590.UP.FTS.B,

20.46%,

10/21/26

...

10,062‌

10,002‌

L1890567.UP.FTS.B,

20.83%,

10/21/26

...

5,698‌

5,664‌

L1890899.UP.FTS.B,

20.85%,

10/21/26

...

9,498‌

9,441‌

L1895456.UP.FTS.B,

21.95%,

10/21/26

...

4,757‌

4,729‌

L1895507.UP.FTS.B,

22.08%,

10/21/26

...

12,250‌

12,173‌

L1892599.UP.FTS.B,

22.22%,

10/21/26

...

2,855‌

2,838‌

L1894090.UP.FTS.B,

22.26%,

10/21/26

...

16,771‌

16,147‌

L1892391.UP.FTS.B,

22.31%,

10/21/26

...

948‌

937‌

L1894604.UP.FTS.B,

22.32%,

10/21/26

...

5,973‌

185‌

L1890666.UP.FTS.B,

22.49%,

10/21/26

...

4,683‌

4,651‌

FW1891693.UP.FTS.B,

22.94%,

10/21/26

.

5,258‌

5,228‌

FW1892319.UP.FTS.B,

22.95%,

10/21/26

.

2,854‌

2,837‌

L1892172.UP.FTS.B,

23.12%,

10/21/26

...

3,144‌

3,126‌

L1891077.UP.FTS.B,

23.49%,

10/21/26

...

19,035‌

18,922‌

L1892907.UP.FTS.B,

23.54%,

10/21/26

...

8,289‌

8,240‌

FW1895679.UP.FTS.B,

24.08%,

10/21/26

.

2,480‌

2,466‌

L1895099.UP.FTS.B,

24.25%,

10/21/26

...

4,579‌

4,542‌

L1891401.UP.FTS.B,

24.38%,

10/21/26

...

2,922‌

859‌

L1893140.UP.FTS.B,

24.95%,

10/21/26

...

1,910‌

1,899‌

L1891976.UP.FTS.B,

25.03%,

10/21/26

...

4,160‌

638‌

L1891061.UP.FTS.B,

25.18%,

10/21/26

...

2,242‌

660‌

L1893569.UP.FTS.B,

25.34%,

10/21/26

...

6,950‌

6,900‌

L1895533.UP.FTS.B,

25.35%,

10/21/26

...

4,776‌

1,407‌

L1890870.UP.FTS.B,

25.37%,

10/21/26

...

4,968‌

4,939‌

L1890702.UP.FTS.B,

25.43%,

10/21/26

...

5,637‌

5,605‌

L1894449.UP.FTS.B,

25.43%,

10/21/26

...

32,922‌

32,717‌

L1896072.UP.FTS.B,

25.44%,

10/21/26

...

3,344‌

3,325‌

L1890828.UP.FTS.B,

25.46%,

10/21/26

...

4,109‌

4,085‌

L1891901.UP.FTS.B,

25.47%,

10/21/26

...

2,222‌

2,103‌

L1891145.UP.FTS.B,

25.49%,

10/21/26

...

8,217‌

8,170‌

L1896094.UP.FTS.B,

25.49%,

10/21/26

...

7,321‌

7,277‌

L1896010.UP.FTS.B,

25.54%,

10/21/26

...

2,198‌

2,185‌

L1891794.UP.FTS.B,

25.77%,

10/21/26

...

4,589‌

4,563‌

FW1891547.UP.FTS.B,

26.16%,

10/21/26

.

6,133‌

6,092‌

FW1892106.UP.FTS.B,

26.33%,

10/21/26

.

4,783‌

4,755‌

FW1894097.UP.FTS.B,

26.45%,

10/21/26

.

5,586‌

5,545‌

FW1889799.UP.FTS.B,

26.61%,

10/21/26

.

9,598‌

9,546‌

FW1893730.UP.FTS.B,

26.84%,

10/21/26

.

7,741‌

7,365‌

FW1892525.UP.FTS.B,

26.98%,

10/21/26

.

13,069‌

12,449‌

FW1893402.UP.FTS.B,

27.14%,

10/21/26

.

5,745‌

5,712‌

L1892234.UP.FTS.B,

27.37%,

10/21/26

...

11,492‌

11,428‌

FW1890965.UP.FTS.B,

27.74%,

10/21/26

.

47,697‌

47,415‌

FW1895968.UP.FTS.B,

27.89%,

10/21/26

.

9,568‌

9,513‌

FW1891777.UP.FTS.B,

27.96%,

10/21/26

.

39,705‌

317‌

FW1893388.UP.FTS.B,

28.06%,

10/21/26

.

9,844‌

1,505‌

FW1894575.UP.FTS.B,

28.17%,

10/21/26

.

4,768‌

4,740‌

FW1891795.UP.FTS.B,

28.39%,

10/21/26

.

9,588‌

9,535‌

FW1892283.UP.FTS.B,

28.56%,

10/21/26

.

19,180‌

19,073‌

FW1892884.UP.FTS.B,

28.78%,

10/21/26

.

2,292‌

2,278‌

FW1893982.UP.FTS.B,

28.82%,

10/21/26

.

4,027‌

4,005‌

FW1891993.UP.FTS.B,

28.9%,

10/21/26

..

5,757‌

5,725‌

FW1892210.UP.FTS.B,

28.91%,

10/21/26

.

6,126‌

6,084‌

FW1891950.UP.FTS.B,

29.07%,

10/21/26

.

46,549‌

46,229‌

FW1892016.UP.FTS.B,

29.55%,

10/21/26

.

1,440‌

1,432‌

FW1889324.UP.FTS.B,

29.6%,

10/21/26

..

9,121‌

9,071‌

FW1894326.UP.FTS.B,

29.68%,

10/21/26

.

10,196‌

10,124‌

FW1891489.UP.FTS.B,

29.94%,

10/21/26

.

2,181‌

2,167‌

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW1893434.UP.FTS.B,

29.94%,

10/21/26

.

$

1,070‌

$

318‌

FW1893145.UP.FTS.B,

30.26%,

10/21/26

.

9,609‌

9,556‌

FW1890831.UP.FTS.B,

30.45%,

10/21/26

.

5,766‌

5,735‌

FW1890635.UP.FTS.B,

30.62%,

10/21/26

.

1,177‌

1,122‌

FW1894061.UP.FTS.B,

30.74%,

10/21/26

.

4,807‌

4,781‌

FW1891617.UP.FTS.B,

30.83%,

10/21/26

.

2,862‌

2,845‌

FW1894937.UP.FTS.B,

30.9%,

10/21/26

..

14,423‌

14,344‌

FW1893394.UP.FTS.B,

30.91%,

10/21/26

.

3,173‌

3,156‌

FW1890284.UP.FTS.B,

30.97%,

10/21/26

.

1,876‌

1,863‌

FW1890712.UP.FTS.B,

31.02%,

10/21/26

.

1,731‌

1,722‌

FW1891199.UP.FTS.B,

31.09%,

10/21/26

.

1,190‌

(5‌)

FW1895177.UP.FTS.B,

31.14%,

10/21/26

.

2,980‌

(9‌)

FW1894842.UP.FTS.B,

31.16%,

10/21/26

.

4,077‌

4,051‌

FW1892275.UP.FTS.B,

31.17%,

10/21/26

.

21,921‌

21,792‌

FW1892541.UP.FTS.B,

31.18%,

10/21/26

.

1,636‌

1,627‌

FW1850949.UP.FTS.B,

31.21%,

10/21/26

.

37,006‌

35,246‌

FW1893968.UP.FTS.B,

31.22%,

10/21/26

.

9,138‌

9,089‌

FW1889834.UP.FTS.B,

31.36%,

10/21/26

.

972‌

925‌

FW1892685.UP.FTS.B,

31.39%,

10/21/26

.

2,486‌

2,472‌

FW1890555.UP.FTS.B,

31.62%,

10/21/26

.

4,812‌

4,787‌

L2015861.UP.FTS.B,

9.46%,

11/10/26

....

8,992‌

8,955‌

FW2016581.UP.FTS.B,

9.85%,

11/10/26

..

1,421‌

1,415‌

L2016805.UP.FTS.B,

10.63%,

11/10/26

...

8,533‌

8,474‌

L2018288.UP.FTS.B,

10.67%,

11/10/26

...

14,297‌

14,210‌

L2016181.UP.FTS.B,

10.7%,

11/10/26

....

4,732‌

4,699‌

L2015997.UP.FTS.B,

10.83%,

11/10/26

...

6,606‌

6,560‌

L2010485.UP.FTS.B,

11.01%,

11/10/26

...

9,485‌

9,421‌

FW2016902.UP.FTS.B,

11.15%,

11/10/26

.

6,641‌

6,596‌

L2000658.UP.FTS.B,

11.67%,

11/10/26

...

17,233‌

17,112‌

L2018385.UP.FTS.B,

12.32%,

11/10/26

...

20,911‌

20,770‌

L2016434.UP.FTS.B,

12.5%,

11/10/26

....

5,702‌

5,664‌

FW2017263.UP.FTS.B,

13.09%,

11/10/26

.

23,711‌

23,551‌

L2016863.UP.FTS.B,

13.15%,

11/10/26

...

4,756‌

4,724‌

L2017795.UP.FTS.B,

13.15%,

11/10/26

...

4,756‌

4,724‌

FW2015303.UP.FTS.B,

13.44%,

11/10/26

.

47,670‌

47,387‌

L2016861.UP.FTS.B,

14.32%,

11/10/26

...

15,717‌

15,614‌

L2016549.UP.FTS.B,

14.78%,

11/10/26

...

5,694‌

5,656‌

L2017320.UP.FTS.B,

14.79%,

11/10/26

...

4,194‌

4,166‌

L2017584.UP.FTS.B,

14.88%,

11/10/26

...

8,579‌

8,488‌

L2016090.UP.FTS.B,

15.07%,

11/10/26

...

12,394‌

12,264‌

L2016450.UP.FTS.B,

15.84%,

11/10/26

...

7,348‌

7,271‌

FW2017922.UP.FTS.B,

16.45%,

11/10/26

.

14,304‌

14,212‌

FW2016602.UP.FTS.B,

16.55%,

11/10/26

.

11,461‌

11,342‌

FW2011916.UP.FTS.B,

16.6%,

11/10/26

..

2,860‌

2,842‌

FW2018016.UP.FTS.B,

16.76%,

11/10/26

.

19,039‌

18,839‌

L2017432.UP.FTS.B,

16.76%,

11/10/26

...

3,439‌

3,403‌

L2018079.UP.FTS.B,

16.83%,

11/10/26

...

14,752‌

3,949‌

L2016538.UP.FTS.B,

16.85%,

11/10/26

...

4,204‌

4,177‌

FW2016897.UP.FTS.B,

16.86%,

11/10/26

.

9,554‌

9,455‌

L2017487.UP.FTS.B,

16.92%,

11/10/26

...

2,856‌

2,826‌

L2015584.UP.FTS.B,

17.41%,

11/10/26

...

37,764‌

37,271‌

FW2018257.UP.FTS.B,

17.6%,

11/10/26

..

5,737‌

5,678‌

L2017404.UP.FTS.B,

17.67%,

11/10/26

...

15,493‌

15,333‌

L2016124.UP.FTS.B,

17.83%,

11/10/26

...

6,696‌

6,608‌

L2017330.UP.FTS.B,

18.21%,

11/10/26

...

4,785‌

4,735‌

L2015667.UP.FTS.B,

18.25%,

11/10/26

...

1,963‌

527‌

L2015741.UP.FTS.B,

18.37%,

11/10/26

...

7,657‌

7,578‌

L2016727.UP.FTS.B,

18.9%,

11/10/26

....

9,292‌

2,496‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

85

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2015870.UP.FTS.B,

19.02%,

11/10/26

...

$

1,406‌

$

1,387‌

L2017365.UP.FTS.B,

19.49%,

11/10/26

...

28,748‌

28,377‌

FW2018022.UP.FTS.B,

19.66%,

11/10/26

.

47,924‌

47,305‌

L2018057.UP.FTS.B,

20.23%,

11/10/26

...

19,088‌

18,906‌

L2012751.UP.FTS.B,

20.27%,

11/10/26

...

11,182‌

11,029‌

L2015880.UP.FTS.B,

20.5%,

11/10/26

....

42,211‌

41,823‌

L2018362.UP.FTS.B,

20.61%,

11/10/26

...

2,878‌

2,841‌

L2016429.UP.FTS.B,

20.87%,

11/10/26

...

23,963‌

23,654‌

L2016091.UP.FTS.B,

20.97%,

11/10/26

...

4,799‌

4,738‌

FW2017939.UP.FTS.B,

21.1%,

11/10/26

..

6,720‌

6,652‌

L2017153.UP.FTS.B,

21.1%,

11/10/26

....

7,184‌

1,052‌

FW2017309.UP.FTS.B,

21.14%,

11/10/26

.

10,560‌

10,497‌

FW2016567.UP.FTS.B,

21.23%,

11/10/26

.

4,800‌

4,739‌

L2011682.UP.FTS.B,

21.35%,

11/10/26

...

5,761‌

5,708‌

L2017334.UP.FTS.B,

21.37%,

11/10/26

...

13,443‌

13,320‌

L2015455.UP.FTS.B,

21.53%,

11/10/26

...

1,150‌

1,139‌

FW2015645.UP.FTS.B,

21.59%,

11/10/26

.

5,654‌

5,579‌

L2018168.UP.FTS.B,

21.66%,

11/10/26

...

11,526‌

11,379‌

L2016823.UP.FTS.B,

21.79%,

11/10/26

...

3,844‌

3,809‌

FW2017462.UP.FTS.B,

21.87%,

11/10/26

.

3,000‌

63‌

L2017770.UP.FTS.B,

21.95%,

11/10/26

...

4,000‌

86‌

L2018199.UP.FTS.B,

22.27%,

11/10/26

...

9,611‌

9,524‌

L2016472.UP.FTS.B,

22.49%,

11/10/26

...

11,055‌

10,915‌

FW2017415.UP.FTS.B,

22.56%,

11/10/26

.

9,170‌

9,091‌

L2016591.UP.FTS.B,

22.73%,

11/10/26

...

4,808‌

4,747‌

FW2015265.UP.FTS.B,

22.74%,

11/10/26

.

5,289‌

5,241‌

L2016525.UP.FTS.B,

22.77%,

11/10/26

...

6,690‌

6,626‌

L2017314.UP.FTS.B,

22.8%,

11/10/26

....

19,233‌

18,989‌

L2015725.UP.FTS.B,

22.82%,

11/10/26

...

1,529‌

1,515‌

L2016796.UP.FTS.B,

23.07%,

11/10/26

...

3,015‌

2,986‌

L2017658.UP.FTS.B,

23.16%,

11/10/26

...

3,175‌

3,146‌

FW2007819.UP.FTS.B,

23.25%,

11/10/26

.

9,567‌

9,477‌

L2018147.UP.FTS.B,

23.34%,

11/10/26

...

15,163‌

14,999‌

L2018074.UP.FTS.B,

23.36%,

11/10/26

...

5,773‌

5,721‌

L2017555.UP.FTS.B,

23.63%,

11/10/26

...

6,737‌

6,676‌

L2018236.UP.FTS.B,

23.72%,

11/10/26

...

3,993‌

2,381‌

FW2018046.UP.FTS.B,

23.73%,

11/10/26

.

3,465‌

3,434‌

L2018486.UP.FTS.B,

23.79%,

11/10/26

...

19,252‌

19,062‌

L2017826.UP.FTS.B,

23.88%,

11/10/26

...

6,801‌

6,746‌

L2016835.UP.FTS.B,

23.96%,

11/10/26

...

11,553‌

11,449‌

L2015796.UP.FTS.B,

24.12%,

11/10/26

...

6,259‌

6,203‌

FW2017808.UP.FTS.B,

24.16%,

11/10/26

.

19,247‌

19,073‌

L2010804.UP.FTS.B,

24.21%,

11/10/26

...

14,445‌

14,315‌

L2016377.UP.FTS.B,

24.27%,

11/10/26

...

7,791‌

4,649‌

FW2015624.UP.FTS.B,

24.49%,

11/10/26

.

5,772‌

5,720‌

L2017277.UP.FTS.B,

24.63%,

11/10/26

...

1,927‌

1,910‌

L2016414.UP.FTS.B,

24.87%,

11/10/26

...

964‌

955‌

L2018248.UP.FTS.B,

24.88%,

11/10/26

...

2,726‌

2,704‌

L2016590.UP.FTS.B,

24.9%,

11/10/26

....

2,313‌

2,292‌

L2018138.UP.FTS.B,

24.93%,

11/10/26

...

2,217‌

2,195‌

L2017241.UP.FTS.B,

24.96%,

11/10/26

...

1,446‌

1,433‌

L2017556.UP.FTS.B,

25.05%,

11/10/26

...

3,759‌

3,725‌

L2016218.UP.FTS.B,

25.12%,

11/10/26

...

4,355‌

4,290‌

L2016122.UP.FTS.B,

25.2%,

11/10/26

....

3,856‌

3,807‌

FW2018111.UP.FTS.B,

25.21%,

11/10/26

.

1,928‌

1,911‌

L2017313.UP.FTS.B,

25.23%,

11/10/26

...

4,241‌

4,204‌

L2017772.UP.FTS.B,

25.23%,

11/10/26

...

6,042‌

3,609‌

L2018241.UP.FTS.B,

25.23%,

11/10/26

...

2,142‌

2,125‌

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L2016934.UP.FTS.B,

25.28%,

11/10/26

...

$

1,052‌

$

1,041‌

L2016288.UP.FTS.B,

25.3%,

11/10/26

....

8,676‌

8,599‌

L2017361.UP.FTS.B,

25.31%,

11/10/26

...

3,374‌

3,344‌

L2018203.UP.FTS.B,

25.33%,

11/10/26

...

1,487‌

219‌

L1996396.UP.FTS.B,

25.34%,

11/10/26

...

2,239‌

2,221‌

L1992755.UP.FTS.B,

25.36%,

11/10/26

...

1,543‌

1,529‌

L2016701.UP.FTS.B,

25.37%,

11/10/26

...

2,892‌

2,856‌

L2018497.UP.FTS.B,

25.37%,

11/10/26

...

11,697‌

1,710‌

L2016960.UP.FTS.B,

25.39%,

11/10/26

...

1,061‌

1,051‌

L2017112.UP.FTS.B,

25.4%,

11/10/26

....

3,865‌

3,813‌

FW2017636.UP.FTS.B,

25.43%,

11/10/26

.

15,908‌

15,767‌

L2010871.UP.FTS.B,

25.45%,

11/10/26

...

866‌

854‌

L2015858.UP.FTS.B,

25.48%,

11/10/26

...

6,267‌

6,212‌

L2016381.UP.FTS.B,

25.48%,

11/10/26

...

2,700‌

2,676‌

L2017166.UP.FTS.B,

25.5%,

11/10/26

....

5,336‌

5,275‌

L2011550.UP.FTS.B,

25.55%,

11/10/26

...

6,075‌

6,021‌

L2018078.UP.FTS.B,

25.62%,

11/10/26

...

3,857‌

3,823‌

L2008161.UP.FTS.B,

25.72%,

11/10/26

...

7,137‌

7,073‌

L2018213.UP.FTS.B,

25.8%,

11/10/26

....

17,361‌

17,206‌

FW2017120.UP.FTS.B,

25.88%,

11/10/26

.

6,945‌

6,883‌

FW2017685.UP.FTS.B,

26.05%,

11/10/26

.

9,686‌

9,605‌

FW2017724.UP.FTS.B,

26.2%,

11/10/26

..

3,838‌

3,803‌

FW2015254.UP.FTS.B,

26.34%,

11/10/26

.

24,896‌

24,676‌

L2017215.UP.FTS.B,

26.46%,

11/10/26

...

5,791‌

5,739‌

FW2018468.UP.FTS.B,

26.52%,

11/10/26

.

19,443‌

19,285‌

L2017612.UP.FTS.B,

26.77%,

11/10/26

...

5,607‌

1,627‌

FW2017665.UP.FTS.B,

26.79%,

11/10/26

.

11,584‌

11,482‌

FW2017752.UP.FTS.B,

26.85%,

11/10/26

.

28,861‌

28,602‌

FW2017315.UP.FTS.B,

26.97%,

11/10/26

.

4,828‌

4,785‌

FW2017448.UP.FTS.B,

26.97%,

11/10/26

.

1,931‌

1,914‌

FW2017400.UP.FTS.B,

27.03%,

11/10/26

.

9,536‌

9,445‌

FW2015596.UP.FTS.B,

27.05%,

11/10/26

.

39,430‌

23,619‌

FW2017995.UP.FTS.B,

27.09%,

11/10/26

.

5,794‌

5,743‌

FW2017395.UP.FTS.B,

27.53%,

11/10/26

.

5,786‌

5,735‌

FW2018112.UP.FTS.B,

27.81%,

11/10/26

.

11,127‌

11,008‌

FW2015111.UP.FTS.B,

27.96%,

11/10/26

.

2,319‌

2,299‌

FW2018013.UP.FTS.B,

28.12%,

11/10/26

.

39,153‌

38,879‌

FW2018097.UP.FTS.B,

28.2%,

11/10/26

..

1,727‌

1,710‌

FW2017468.UP.FTS.B,

28.36%,

11/10/26

.

1,934‌

1,917‌

FW2017359.UP.FTS.B,

28.74%,

11/10/26

.

3,282‌

3,249‌

FW2017627.UP.FTS.B,

28.75%,

11/10/26

.

6,814‌

6,760‌

FW2016997.UP.FTS.B,

28.76%,

11/10/26

.

3,909‌

2,342‌

FW2016710.UP.FTS.B,

28.83%,

11/10/26

.

12,993‌

12,865‌

FW2018119.UP.FTS.B,

28.89%,

11/10/26

.

693‌

683‌

FW2018328.UP.FTS.B,

28.94%,

11/10/26

.

1,161‌

1,151‌

FW2016891.UP.FTS.B,

29.13%,

11/10/26

.

16,811‌

10,077‌

FW2015677.UP.FTS.B,

29.14%,

11/10/26

.

3,870‌

3,836‌

FW2017940.UP.FTS.B,

29.24%,

11/10/26

.

2,709‌

2,686‌

FW2017283.UP.FTS.B,

29.28%,

11/10/26

.

4,838‌

4,796‌

FW2017821.UP.FTS.B,

29.34%,

11/10/26

.

4,838‌

4,796‌

FW2016668.UP.FTS.B,

29.41%,

11/10/26

.

6,774‌

6,716‌

FW2016853.UP.FTS.B,

29.43%,

11/10/26

.

5,422‌

5,368‌

FW2015356.UP.FTS.B,

29.53%,

11/10/26

.

937‌

928‌

FW2017367.UP.FTS.B,

29.54%,

11/10/26

.

46,491‌

46,092‌

FW2016021.UP.FTS.B,

29.96%,

11/10/26

.

14,523‌

14,399‌

FW2017996.UP.FTS.B,

29.99%,

11/10/26

.

3,391‌

3,362‌

FW2017063.UP.FTS.B,

30.06%,

11/10/26

.

928‌

918‌

FW2017531.UP.FTS.B,

30.14%,

11/10/26

.

7,262‌

7,199‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

86

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

FW2017578.UP.FTS.B,

30.27%,

11/10/26

.

$

7,720‌

$

2,245‌

FW2015923.UP.FTS.B,

30.28%,

11/10/26

.

7,747‌

7,680‌

FW2016098.UP.FTS.B,

30.28%,

11/10/26

.

1,549‌

1,536‌

FW2016481.UP.FTS.B,

30.38%,

11/10/26

.

1,380‌

401‌

FW2017756.UP.FTS.B,

30.55%,

11/10/26

.

12,398‌

12,292‌

FW2015746.UP.FTS.B,

30.57%,

11/10/26

.

2,809‌

2,785‌

FW2016959.UP.FTS.B,

30.64%,

11/10/26

.

3,100‌

3,073‌

FW2017442.UP.FTS.B,

30.64%,

11/10/26

.

3,875‌

3,841‌

FW2018064.UP.FTS.B,

30.66%,

11/10/26

.

4,009‌

1,163‌

FW2015849.UP.FTS.B,

30.69%,

11/10/26

.

13,299‌

13,172‌

FW2017177.UP.FTS.B,

30.73%,

11/10/26

.

2,809‌

2,785‌

FW2017805.UP.FTS.B,

30.78%,

11/10/26

.

2,740‌

2,721‌

FW2018051.UP.FTS.B,

30.78%,

11/10/26

.

3,778‌

3,746‌

FW2017369.UP.FTS.B,

30.83%,

11/10/26

.

2,906‌

2,882‌

FW2015852.UP.FTS.B,

30.89%,

11/10/26

.

830‌

817‌

FW2017102.UP.FTS.B,

30.96%,

11/10/26

.

1,938‌

1,922‌

FW2016238.UP.FTS.B,

30.97%,

11/10/26

.

2,137‌

2,120‌

FW2017411.UP.FTS.B,

30.98%,

11/10/26

.

2,680‌

388‌

FW2014044.UP.FTS.B,

31.01%,

11/10/26

.

3,953‌

1,155‌

FW2016392.UP.FTS.B,

31.01%,

11/10/26

.

1,128‌

1,113‌

FW2015895.UP.FTS.B,

31.02%,

11/10/26

.

2,210‌

2,190‌

FW2017426.UP.FTS.B,

31.02%,

11/10/26

.

2,600‌

808‌

FW2015792.UP.FTS.B,

31.07%,

11/10/26

.

4,984‌

723‌

FW2017509.UP.FTS.B,

31.09%,

11/10/26

.

2,464‌

717‌

FW2017963.UP.FTS.B,

31.1%,

11/10/26

..

9,109‌

9,031‌

FW2018342.UP.FTS.B,

31.12%,

11/10/26

.

3,474‌

503‌

FW2015165.UP.FTS.B,

31.13%,

11/10/26

.

1,744‌

1,729‌

FW2017125.UP.FTS.B,

31.13%,

11/10/26

.

1,886‌

275‌

FW2017504.UP.FTS.B,

31.13%,

11/10/26

.

2,726‌

2,697‌

FW2017813.UP.FTS.B,

31.14%,

11/10/26

.

1,444‌

1,431‌

FW2018365.UP.FTS.B,

31.14%,

11/10/26

.

1,417‌

1,402‌

FW2018421.UP.FTS.B,

31.14%,

11/10/26

.

4,070‌

4,035‌

FW2016440.UP.FTS.B,

31.16%,

11/10/26

.

4,111‌

4,083‌

FW2017000.UP.FTS.B,

31.19%,

11/10/26

.

11,792‌

11,694‌

FW2016099.UP.FTS.B,

31.2%,

11/10/26

..

1,800‌

(21‌)

FW2018137.UP.FTS.B,

31.23%,

11/10/26

.

19,480‌

19,314‌

FW2015784.UP.FTS.B,

31.24%,

11/10/26

.

2,229‌

2,210‌

FW2016681.UP.FTS.B,

31.25%,

11/10/26

.

5,330‌

5,285‌

FW2017549.UP.FTS.B,

31.31%,

11/10/26

.

7,269‌

7,207‌

FW2018082.UP.FTS.B,

31.51%,

11/10/26

.

3,820‌

2,295‌

FW2017946.UP.FTS.B,

31.9%,

11/10/26

..

2,329‌

2,305‌

FW2017831.UP.FTS.B,

32.03%,

11/10/26

.

6,824‌

6,771‌

FW2018216.UP.FTS.B,

32.18%,

11/10/26

.

3,583‌

3,552‌

L2111539.UP.FTS.B,

8.17%,

11/24/26

....

7,559‌

7,536‌

L2112207.UP.FTS.B,

9.52%,

11/24/26

....

12,296‌

11,610‌

L2111293.UP.FTS.B,

9.98%,

11/24/26

....

12,138‌

12,109‌

FW2112522.UP.FTS.B,

10.63%,

11/24/26

.

1,255‌

1,250‌

L2111876.UP.FTS.B,

10.7%,

11/24/26

....

14,222‌

14,154‌

L2112534.UP.FTS.B,

11.65%,

11/24/26

...

26,771‌

26,645‌

FW2111563.UP.FTS.B,

11.69%,

11/24/26

.

11,392‌

11,339‌

L2110925.UP.FTS.B,

12.01%,

11/24/26

...

28,493‌

28,360‌

L2112036.UP.FTS.B,

13.1%,

11/24/26

....

1,427‌

1,420‌

L2111515.UP.FTS.B,

13.17%,

11/24/26

...

5,685‌

5,658‌

L2111347.UP.FTS.B,

14.3%,

11/24/26

....

2,858‌

2,845‌

L2109723.UP.FTS.B,

14.71%,

11/24/26

...

42,504‌

42,316‌

L2110897.UP.FTS.B,

15%,

11/24/26

.....

33,366‌

33,128‌

L2112445.UP.FTS.B,

15.34%,

11/24/26

...

2,861‌

2,841‌

L2112051.UP.FTS.B,

15.48%,

11/24/26

...

14,308‌

14,206‌

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L2107550.UP.FTS.B,

15.75%,

11/24/26

...

$

2,589‌

$

2,574‌

L2111566.UP.FTS.B,

15.86%,

11/24/26

...

4,771‌

4,738‌

L2111428.UP.FTS.B,

15.89%,

11/24/26

...

4,772‌

4,738‌

FW2111859.UP.FTS.B,

16.21%,

11/24/26

.

8,115‌

8,058‌

FW2112290.UP.FTS.B,

16.35%,

11/24/26

.

3,894‌

3,690‌

FW2103748.UP.FTS.B,

16.46%,

11/24/26

.

4,775‌

4,755‌

L2111758.UP.FTS.B,

16.63%,

11/24/26

...

38,281‌

38,146‌

FW2111175.UP.FTS.B,

16.64%,

11/24/26

.

6,680‌

6,633‌

L2109486.UP.FTS.B,

16.75%,

11/24/26

...

11,741‌

3,051‌

L2111907.UP.FTS.B,

16.75%,

11/24/26

...

2,866‌

2,846‌

L2111647.UP.FTS.B,

16.92%,

11/24/26

...

10,219‌

10,148‌

L2110744.UP.FTS.B,

17.28%,

11/24/26

...

2,868‌

2,856‌

FW2111473.UP.FTS.B,

17.42%,

11/24/26

.

3,715‌

3,689‌

L2111497.UP.FTS.B,

17.5%,

11/24/26

....

14,342‌

14,243‌

FW2112554.UP.FTS.B,

17.97%,

11/24/26

.

28,700‌

28,502‌

FW2103098.UP.FTS.B,

18.1%,

11/24/26

..

3,827‌

3,793‌

L2112204.UP.FTS.B,

18.12%,

11/24/26

...

5,262‌

5,226‌

L2110989.UP.FTS.B,

18.58%,

11/24/26

...

6,701‌

6,642‌

L2111067.UP.FTS.B,

18.81%,

11/24/26

...

1,210‌

1,198‌

L2111999.UP.FTS.B,

18.81%,

11/24/26

...

10,976‌

10,856‌

L2101761.UP.FTS.B,

19.04%,

11/24/26

...

3,352‌

3,323‌

FW2111909.UP.FTS.B,

19.23%,

11/24/26

.

3,257‌

3,229‌

L2110967.UP.FTS.B,

19.28%,

11/24/26

...

8,959‌

8,869‌

L2112384.UP.FTS.B,

19.48%,

11/24/26

...

2,940‌

860‌

L2111433.UP.FTS.B,

19.56%,

11/24/26

...

4,792‌

4,750‌

L2110053.UP.FTS.B,

19.71%,

11/24/26

...

7,189‌

7,126‌

FW2111564.UP.FTS.B,

19.87%,

11/24/26

.

4,602‌

4,562‌

L2110920.UP.FTS.B,

20%,

11/24/26

.....

12,835‌

12,718‌

FW2112482.UP.FTS.B,

20.06%,

11/24/26

.

2,919‌

2,767‌

L2110840.UP.FTS.B,

20.27%,

11/24/26

...

4,795‌

4,774‌

FW2112337.UP.FTS.B,

20.38%,

11/24/26

.

9,539‌

9,495‌

L2112050.UP.FTS.B,

20.55%,

11/24/26

...

5,757‌

5,733‌

L2110708.UP.FTS.B,

20.56%,

11/24/26

...

5,948‌

5,897‌

FW2103854.UP.FTS.B,

20.73%,

11/24/26

.

19,031‌

18,898‌

L2111070.UP.FTS.B,

20.97%,

11/24/26

...

3,359‌

3,345‌

FW2110854.UP.FTS.B,

21.25%,

11/24/26

.

5,761‌

5,711‌

L2111871.UP.FTS.B,

21.35%,

11/24/26

...

3,800‌

122‌

FW2112190.UP.FTS.B,

21.47%,

11/24/26

.

5,762‌

5,712‌

FW2110697.UP.FTS.B,

21.79%,

11/24/26

.

12,496‌

12,445‌

L2111001.UP.FTS.B,

22.12%,

11/24/26

...

1,865‌

1,855‌

L2109591.UP.FTS.B,

22.25%,

11/24/26

...

19,222‌

19,143‌

L2111227.UP.FTS.B,

22.37%,

11/24/26

...

2,723‌

2,595‌

L2112213.UP.FTS.B,

22.37%,

11/24/26

...

6,729‌

6,701‌

L2110974.UP.FTS.B,

22.6%,

11/24/26

....

4,807‌

4,788‌

FW2111879.UP.FTS.B,

22.64%,

11/24/26

.

14,422‌

14,364‌

L2111255.UP.FTS.B,

22.67%,

11/24/26

...

6,731‌

6,703‌

L2111918.UP.FTS.B,

22.67%,

11/24/26

...

19,125‌

19,040‌

FW2112065.UP.FTS.B,

22.71%,

11/24/26

.

42,885‌

42,711‌

L2111808.UP.FTS.B,

23.39%,

11/24/26

...

3,029‌

3,014‌

L2111770.UP.FTS.B,

23.69%,

11/24/26

...

9,625‌

9,563‌

FW2111737.UP.FTS.B,

24.4%,

11/24/26

..

2,800‌

48‌

FW2111629.UP.FTS.B,

24.53%,

11/24/26

.

21,069‌

20,857‌

FW2104440.UP.FTS.B,

24.64%,

11/24/26

.

5,796‌

5,776‌

FW2111536.UP.FTS.B,

24.67%,

11/24/26

.

9,606‌

9,524‌

L2112103.UP.FTS.B,

24.86%,

11/24/26

...

5,397‌

5,352‌

L2110705.UP.FTS.B,

24.88%,

11/24/26

...

13,298‌

13,246‌

L2111688.UP.FTS.B,

25.07%,

11/24/26

...

2,410‌

2,400‌

L2111342.UP.FTS.B,

25.1%,

11/24/26

....

1,539‌

1,533‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

87

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2110767.UP.FTS.B,

25.12%,

11/24/26

...

$

18,188‌

$

18,031‌

L2110949.UP.FTS.B,

25.25%,

11/24/26

...

2,699‌

2,689‌

L2112278.UP.FTS.B,

25.28%,

11/24/26

...

5,702‌

1,691‌

L2110396.UP.FTS.B,

25.33%,

11/24/26

...

4,394‌

4,374‌

FW2111387.UP.FTS.B,

25.36%,

11/24/26

.

6,523‌

6,496‌

L2112349.UP.FTS.B,

25.4%,

11/24/26

....

9,641‌

9,604‌

L2111404.UP.FTS.B,

25.42%,

11/24/26

...

4,822‌

4,803‌

L2111176.UP.FTS.B,

25.44%,

11/24/26

...

3,757‌

3,743‌

L2111206.UP.FTS.B,

25.46%,

11/24/26

...

1,928‌

1,921‌

L2110495.UP.FTS.B,

25.48%,

11/24/26

...

1,085‌

168‌

L2112057.UP.FTS.B,

25.5%,

11/24/26

....

3,649‌

3,634‌

L2112241.UP.FTS.B,

25.52%,

11/24/26

...

4,821‌

4,803‌

L2111177.UP.FTS.B,

25.59%,

11/24/26

...

7,156‌

7,132‌

FW2111514.UP.FTS.B,

25.71%,

11/24/26

.

7,000‌

124‌

L2111583.UP.FTS.B,

25.78%,

11/24/26

...

4,759‌

737‌

L2111103.UP.FTS.B,

25.8%,

11/24/26

....

2,497‌

2,486‌

FW2110882.UP.FTS.B,

25.83%,

11/24/26

.

7,717‌

7,688‌

L2110654.UP.FTS.B,

25.99%,

11/24/26

...

2,701‌

2,691‌

FW2109623.UP.FTS.B,

26.48%,

11/24/26

.

27,630‌

26,365‌

FW2111679.UP.FTS.B,

26.7%,

11/24/26

..

9,653‌

9,574‌

FW2108311.UP.FTS.B,

26.95%,

11/24/26

.

3,862‌

3,848‌

FW2111955.UP.FTS.B,

27.38%,

11/24/26

.

2,962‌

458‌

FW2112039.UP.FTS.B,

27.75%,

11/24/26

.

4,936‌

4,911‌

FW2110829.UP.FTS.B,

27.91%,

11/24/26

.

14,764‌

14,108‌

FW2111654.UP.FTS.B,

28.15%,

11/24/26

.

14,536‌

14,489‌

FW2111301.UP.FTS.B,

28.21%,

11/24/26

.

4,833‌

4,816‌

FW2109993.UP.FTS.B,

28.34%,

11/24/26

.

4,834‌

4,816‌

FW2110973.UP.FTS.B,

28.48%,

11/24/26

.

2,901‌

2,890‌

FW2111445.UP.FTS.B,

28.69%,

11/24/26

.

6,891‌

6,861‌

FW2112020.UP.FTS.B,

28.92%,

11/24/26

.

2,902‌

2,891‌

FW2111392.UP.FTS.B,

29.36%,

11/24/26

.

5,807‌

5,786‌

FW2111483.UP.FTS.B,

29.68%,

11/24/26

.

1,300‌

7‌

FW2110876.UP.FTS.B,

29.84%,

11/24/26

.

20,000‌

78‌

FW2109377.UP.FTS.B,

30.03%,

11/24/26

.

4,842‌

4,825‌

FW2112225.UP.FTS.B,

30.05%,

11/24/26

.

1,840‌

1,833‌

FW2111978.UP.FTS.B,

30.35%,

11/24/26

.

3,463‌

3,311‌

FW2112276.UP.FTS.B,

30.64%,

11/24/26

.

1,522‌

1,515‌

FW2109608.UP.FTS.B,

30.73%,

11/24/26

.

1,938‌

1,931‌

FW2112451.UP.FTS.B,

30.73%,

11/24/26

.

1,744‌

1,738‌

FW2111816.UP.FTS.B,

30.78%,

11/24/26

.

2,228‌

2,220‌

FW2111972.UP.FTS.B,

30.79%,

11/24/26

.

3,264‌

3,251‌

FW2111589.UP.FTS.B,

30.84%,

11/24/26

.

2,713‌

2,703‌

FW2111418.UP.FTS.B,

30.88%,

11/24/26

.

15,015‌

14,963‌

FW2111195.UP.FTS.B,

30.9%,

11/24/26

..

2,284‌

2,273‌

FW2110808.UP.FTS.B,

30.94%,

11/24/26

.

1,478‌

1,413‌

FW2111356.UP.FTS.B,

30.95%,

11/24/26

.

1,000‌

0‌

FW2112419.UP.FTS.B,

30.97%,

11/24/26

.

2,466‌

2,358‌

FW2108397.UP.FTS.B,

31.01%,

11/24/26

.

2,200‌

664‌

FW2111709.UP.FTS.B,

31.03%,

11/24/26

.

7,267‌

7,242‌

FW2111351.UP.FTS.B,

31.07%,

11/24/26

.

1,676‌

1,602‌

FW2110860.UP.FTS.B,

31.09%,

11/24/26

.

4,554‌

4,539‌

FW2110828.UP.FTS.B,

31.1%,

11/24/26

..

1,750‌

1,669‌

FW2111832.UP.FTS.B,

31.16%,

11/24/26

.

12,047‌

11,988‌

FW2111028.UP.FTS.B,

31.18%,

11/24/26

.

2,169‌

651‌

FW2112076.UP.FTS.B,

31.2%,

11/24/26

..

5,323‌

1,599‌

FW2111511.UP.FTS.B,

31.22%,

11/24/26

.

12,686‌

12,641‌

FW2112302.UP.FTS.B,

31.22%,

11/24/26

.

2,481‌

385‌

FW2104466.UP.FTS.B,

31.47%,

11/24/26

.

4,071‌

4,057‌

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW2111588.UP.FTS.B,

31.7%,

11/24/26

..

$

2,133‌

$

2,126‌

FW2112102.UP.FTS.B,

31.76%,

11/24/26

.

7,800‌

7,770‌

FW2110871.UP.FTS.B,

31.83%,

11/24/26

.

3,878‌

3,865‌

L2262825.UP.FTS.B,

7.69%,

12/16/26

....

14,375‌

14,327‌

FW2264096.UP.FTS.B,

8.01%,

12/16/26

..

8,628‌

8,599‌

L2266515.UP.FTS.B,

8.1%,

12/16/26

....

7,191‌

7,167‌

L2264632.UP.FTS.B,

8.24%,

12/16/26

....

19,222‌

19,173‌

L2260039.UP.FTS.B,

8.53%,

12/16/26

....

7,640‌

7,601‌

L2264794.UP.FTS.B,

9.82%,

12/16/26

....

14,406‌

14,361‌

L2233679.UP.FTS.B,

10.15%,

12/16/26

...

6,245‌

6,225‌

L2262464.UP.FTS.B,

10.33%,

12/16/26

...

6,713‌

6,677‌

L2256936.UP.FTS.B,

11.09%,

12/16/26

...

19,233‌

19,130‌

L2261890.UP.FTS.B,

11.17%,

12/16/26

...

14,426‌

14,349‌

L2265566.UP.FTS.B,

11.83%,

12/16/26

...

14,435‌

14,359‌

L2265755.UP.FTS.B,

11.99%,

12/16/26

...

7,700‌

7,659‌

FW2263431.UP.FTS.B,

12.09%,

12/16/26

.

6,738‌

6,703‌

FW2266242.UP.FTS.B,

12.21%,

12/16/26

.

7,918‌

7,881‌

L2264084.UP.FTS.B,

12.97%,

12/16/26

...

2,125‌

2,116‌

L2262690.UP.FTS.B,

13.04%,

12/16/26

...

8,190‌

8,147‌

L2190467.UP.FTS.B,

13.35%,

12/16/26

...

5,301‌

5,273‌

L2260554.UP.FTS.B,

13.52%,

12/16/26

...

6,584‌

6,547‌

L2267070.UP.FTS.B,

13.82%,

12/16/26

...

4,892‌

4,624‌

L2261612.UP.FTS.B,

13.93%,

12/16/26

...

1,929‌

1,919‌

FW2266148.UP.FTS.B,

14.03%,

12/16/26

.

4,822‌

4,797‌

FW2263216.UP.FTS.B,

14.33%,

12/16/26

.

965‌

960‌

FW2263771.UP.FTS.B,

14.5%,

12/16/26

..

7,236‌

7,199‌

L2257039.UP.FTS.B,

14.56%,

12/16/26

...

3,859‌

3,840‌

FW2262525.UP.FTS.B,

14.73%,

12/16/26

.

28,949‌

28,803‌

L2266678.UP.FTS.B,

14.84%,

12/16/26

...

12,546‌

12,483‌

L2266887.UP.FTS.B,

15.02%,

12/16/26

...

6,757‌

6,701‌

FW2266772.UP.FTS.B,

15.05%,

12/16/26

.

7,702‌

7,638‌

L2262094.UP.FTS.B,

15.17%,

12/16/26

...

4,827‌

4,803‌

L2261820.UP.FTS.B,

15.32%,

12/16/26

...

48,227‌

47,984‌

FW2265961.UP.FTS.B,

16.27%,

12/16/26

.

5,798‌

5,751‌

L2265506.UP.FTS.B,

16.32%,

12/16/26

...

13,100‌

13,049‌

L2261177.UP.FTS.B,

16.49%,

12/16/26

...

6,288‌

6,247‌

L2261462.UP.FTS.B,

16.62%,

12/16/26

...

3,190‌

3,164‌

L2266091.UP.FTS.B,

16.62%,

12/16/26

...

9,666‌

9,588‌

L2262249.UP.FTS.B,

16.91%,

12/16/26

...

6,927‌

1,875‌

L2262180.UP.FTS.B,

17.1%,

12/16/26

....

4,835‌

4,796‌

L2262304.UP.FTS.B,

17.3%,

12/16/26

....

12,573‌

12,472‌

L2261255.UP.FTS.B,

17.42%,

12/16/26

...

38,692‌

38,381‌

FW2265856.UP.FTS.B,

17.99%,

12/16/26

.

8,651‌

8,579‌

L2265595.UP.FTS.B,

17.99%,

12/16/26

...

985‌

933‌

L2260722.UP.FTS.B,

18.02%,

12/16/26

...

2,905‌

2,875‌

L2262203.UP.FTS.B,

18.36%,

12/16/26

...

10,121‌

10,016‌

L2262594.UP.FTS.B,

18.44%,

12/16/26

...

968‌

960‌

L2265320.UP.FTS.B,

18.67%,

12/16/26

...

968‌

961‌

FW2266130.UP.FTS.B,

18.7%,

12/16/26

..

9,974‌

9,895‌

FW2261915.UP.FTS.B,

18.74%,

12/16/26

.

1,646‌

1,633‌

L2261867.UP.FTS.B,

18.76%,

12/16/26

...

2,420‌

2,401‌

L2265066.UP.FTS.B,

18.81%,

12/16/26

...

4,842‌

4,793‌

L2264467.UP.FTS.B,

18.83%,

12/16/26

...

21,073‌

19,981‌

L2263455.UP.FTS.B,

18.85%,

12/16/26

...

10,670‌

10,582‌

FW2261853.UP.FTS.B,

18.96%,

12/16/26

.

1,453‌

1,441‌

L2261873.UP.FTS.B,

19.04%,

12/16/26

...

2,713‌

2,691‌

L2262038.UP.FTS.B,

19.07%,

12/16/26

...

6,780‌

6,727‌

L2265870.UP.FTS.B,

19.27%,

12/16/26

...

9,688‌

9,611‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

88

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2262520.UP.FTS.B,

19.39%,

12/16/26

...

$

5,086‌

$

5,031‌

L2261512.UP.FTS.B,

19.6%,

12/16/26

....

9,691‌

9,614‌

L2261469.UP.FTS.B,

19.7%,

12/16/26

....

3,101‌

3,070‌

L2260922.UP.FTS.B,

19.74%,

12/16/26

...

6,784‌

6,737‌

L2265533.UP.FTS.B,

19.85%,

12/16/26

...

9,693‌

9,595‌

L2261927.UP.FTS.B,

19.86%,

12/16/26

...

976‌

968‌

L2262271.UP.FTS.B,

20.02%,

12/16/26

...

9,683‌

9,585‌

L2238848.UP.FTS.B,

20.03%,

12/16/26

...

24,235‌

24,067‌

FW2262822.UP.FTS.B,

20.38%,

12/16/26

.

2,909‌

2,889‌

FW2266143.UP.FTS.B,

20.49%,

12/16/26

.

12,592‌

12,504‌

L2262115.UP.FTS.B,

20.57%,

12/16/26

...

2,522‌

2,496‌

L2262532.UP.FTS.B,

20.65%,

12/16/26

...

12,540‌

12,449‌

L2264912.UP.FTS.B,

20.76%,

12/16/26

...

3,880‌

3,841‌

FW2267215.UP.FTS.B,

20.8%,

12/16/26

..

9,700‌

9,633‌

FW2262699.UP.FTS.B,

20.92%,

12/16/26

.

4,838‌

4,790‌

L2265409.UP.FTS.B,

21.36%,

12/16/26

...

4,852‌

4,804‌

L2266258.UP.FTS.B,

21.36%,

12/16/26

...

5,337‌

5,301‌

L2263510.UP.FTS.B,

21.37%,

12/16/26

...

2,717‌

2,690‌

FW2263533.UP.FTS.B,

21.45%,

12/16/26

.

4,887‌

4,858‌

FW2265163.UP.FTS.B,

21.6%,

12/16/26

..

5,824‌

5,766‌

FW2266413.UP.FTS.B,

21.62%,

12/16/26

.

14,560‌

14,447‌

L2266172.UP.FTS.B,

21.62%,

12/16/26

...

3,397‌

3,374‌

FW2265342.UP.FTS.B,

21.77%,

12/16/26

.

3,492‌

3,468‌

FW2261298.UP.FTS.B,

21.8%,

12/16/26

..

26,240‌

26,028‌

L2264438.UP.FTS.B,

21.8%,

12/16/26

....

4,735‌

4,696‌

FW2242546.UP.FTS.B,

21.96%,

12/16/26

.

10,583‌

10,478‌

L2264897.UP.FTS.B,

22.07%,

12/16/26

...

9,213‌

9,122‌

FW2265692.UP.FTS.B,

22.08%,

12/16/26

.

7,275‌

7,203‌

FW2264842.UP.FTS.B,

22.29%,

12/16/26

.

12,722‌

12,648‌

FW2265852.UP.FTS.B,

22.69%,

12/16/26

.

1,958‌

1,947‌

L2262618.UP.FTS.B,

22.7%,

12/16/26

....

494‌

490‌

FW2264001.UP.FTS.B,

22.79%,

12/16/26

.

948‌

940‌

L2251494.UP.FTS.B,

22.87%,

12/16/26

...

2,697‌

2,677‌

L2261403.UP.FTS.B,

22.96%,

12/16/26

...

23,319‌

23,161‌

L2250660.UP.FTS.B,

23.02%,

12/16/26

...

4,373‌

4,343‌

FW2264831.UP.FTS.B,

23.07%,

12/16/26

.

3,790‌

3,764‌

L2262495.UP.FTS.B,

23.13%,

12/16/26

...

2,721‌

2,703‌

L2262151.UP.FTS.B,

23.18%,

12/16/26

...

20,995‌

20,844‌

L2262515.UP.FTS.B,

23.26%,

12/16/26

...

43,345‌

43,052‌

L2263677.UP.FTS.B,

23.33%,

12/16/26

...

14,569‌

14,470‌

L2230175.UP.FTS.B,

23.37%,

12/16/26

...

3,272‌

955‌

L2264522.UP.FTS.B,

23.4%,

12/16/26

....

24,786‌

7,213‌

L2265697.UP.FTS.B,

23.5%,

12/16/26

....

2,912‌

2,892‌

L2266895.UP.FTS.B,

23.57%,

12/16/26

...

3,888‌

3,862‌

FW2261947.UP.FTS.B,

23.67%,

12/16/26

.

2,457‌

2,338‌

L2266458.UP.FTS.B,

23.68%,

12/16/26

...

1,264‌

1,255‌

FW2262997.UP.FTS.B,

23.89%,

12/16/26

.

6,417‌

6,374‌

FW2260888.UP.FTS.B,

23.94%,

12/16/26

.

1,748‌

1,736‌

L2264675.UP.FTS.B,

23.95%,

12/16/26

...

19,447‌

19,316‌

FW2265336.UP.FTS.B,

24.03%,

12/16/26

.

972‌

966‌

L2262668.UP.FTS.B,

24.03%,

12/16/26

...

3,209‌

3,187‌

L2265254.UP.FTS.B,

24.22%,

12/16/26

...

5,246‌

5,210‌

L2160603.UP.FTS.B,

24.28%,

12/16/26

...

3,112‌

3,091‌

L2261243.UP.FTS.B,

24.3%,

12/16/26

....

9,136‌

9,067‌

FW2262173.UP.FTS.B,

24.42%,

12/16/26

.

19,454‌

19,324‌

L2263485.UP.FTS.B,

24.71%,

12/16/26

...

1,946‌

1,933‌

FW2263757.UP.FTS.B,

24.74%,

12/16/26

.

7,297‌

7,248‌

FW2263559.UP.FTS.B,

24.81%,

12/16/26

.

7,297‌

7,249‌

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW2266843.UP.FTS.B,

24.86%,

12/16/26

.

$

2,919‌

$

2,891‌

FW2261342.UP.FTS.B,

24.89%,

12/16/26

.

3,892‌

3,866‌

FW2262902.UP.FTS.B,

25.1%,

12/16/26

..

19,838‌

5,791‌

L2267064.UP.FTS.B,

25.29%,

12/16/26

...

1,071‌

1,064‌

L2266381.UP.FTS.B,

25.31%,

12/16/26

...

1,922‌

1,908‌

L2262190.UP.FTS.B,

25.35%,

12/16/26

...

3,991‌

3,964‌

L2264771.UP.FTS.B,

25.35%,

12/16/26

...

1,849‌

1,837‌

L2265942.UP.FTS.B,

25.35%,

12/16/26

...

5,349‌

5,313‌

L2265116.UP.FTS.B,

25.37%,

12/16/26

...

1,557‌

1,547‌

L2262592.UP.FTS.B,

25.43%,

12/16/26

...

1,166‌

1,158‌

L2261145.UP.FTS.B,

25.49%,

12/16/26

...

2,075‌

2,058‌

L2266028.UP.FTS.B,

25.49%,

12/16/26

...

14,856‌

14,136‌

L2236916.UP.FTS.B,

25.5%,

12/16/26

....

3,894‌

3,868‌

L2266958.UP.FTS.B,

25.5%,

12/16/26

....

1,071‌

1,064‌

FW2261893.UP.FTS.B,

25.52%,

12/16/26

.

3,894‌

3,868‌

FW2265341.UP.FTS.B,

25.64%,

12/16/26

.

9,735‌

9,671‌

FW2259738.UP.FTS.B,

26.14%,

12/16/26

.

3,116‌

3,096‌

FW2262758.UP.FTS.B,

26.24%,

12/16/26

.

4,873‌

4,842‌

FW2263939.UP.FTS.B,

26.78%,

12/16/26

.

3,897‌

3,872‌

FW2266313.UP.FTS.B,

26.81%,

12/16/26

.

1,949‌

1,936‌

FW2262224.UP.FTS.B,

26.85%,

12/16/26

.

2,533‌

2,517‌

FW2265141.UP.FTS.B,

26.9%,

12/16/26

..

17,865‌

17,736‌

FW2262376.UP.FTS.B,

27.09%,

12/16/26

.

1,949‌

1,936‌

FW2263659.UP.FTS.B,

27.12%,

12/16/26

.

15,593‌

15,491‌

FW2262861.UP.FTS.B,

27.14%,

12/16/26

.

19,491‌

19,305‌

FW2263683.UP.FTS.B,

27.15%,

12/16/26

.

4,431‌

4,217‌

FW2266529.UP.FTS.B,

27.38%,

12/16/26

.

7,409‌

7,361‌

L2267104.UP.FTS.B,

27.38%,

12/16/26

...

4,679‌

4,648‌

FW2266619.UP.FTS.B,

27.46%,

12/16/26

.

3,607‌

3,583‌

FW2265289.UP.FTS.B,

27.87%,

12/16/26

.

3,510‌

3,487‌

FW2262621.UP.FTS.B,

27.92%,

12/16/26

.

7,313‌

7,266‌

FW2263271.UP.FTS.B,

28.01%,

12/16/26

.

993‌

291‌

FW2265288.UP.FTS.B,

28.09%,

12/16/26

.

3,900‌

3,875‌

FW2264546.UP.FTS.B,

28.23%,

12/16/26

.

2,926‌

2,907‌

FW2262341.UP.FTS.B,

28.41%,

12/16/26

.

30,799‌

29,375‌

FW2260718.UP.FTS.B,

28.56%,

12/16/26

.

1,951‌

1,938‌

FW2263509.UP.FTS.B,

28.65%,

12/16/26

.

10,343‌

10,300‌

FW2265850.UP.FTS.B,

28.76%,

12/16/26

.

5,905‌

5,875‌

FW2266879.UP.FTS.B,

28.84%,

12/16/26

.

4,851‌

4,818‌

FW2177600.UP.FTS.B,

28.89%,

12/16/26

.

2,147‌

2,133‌

FW2264712.UP.FTS.B,

28.97%,

12/16/26

.

2,439‌

2,424‌

FW2265353.UP.FTS.B,

29.01%,

12/16/26

.

13,455‌

13,358‌

FW2266411.UP.FTS.B,

29.03%,

12/16/26

.

6,831‌

6,787‌

FW2263704.UP.FTS.B,

29.07%,

12/16/26

.

15,000‌

4,415‌

FW2264681.UP.FTS.B,

29.13%,

12/16/26

.

3,903‌

3,878‌

FW2262852.UP.FTS.B,

29.23%,

12/16/26

.

976‌

970‌

FW2262937.UP.FTS.B,

29.28%,

12/16/26

.

4,648‌

4,616‌

FW2263571.UP.FTS.B,

29.51%,

12/16/26

.

3,987‌

3,956‌

FW2261035.UP.FTS.B,

29.7%,

12/16/26

..

1,708‌

1,695‌

FW2256091.UP.FTS.B,

29.72%,

12/16/26

.

3,435‌

3,417‌

FW2261136.UP.FTS.B,

29.72%,

12/16/26

.

5,857‌

5,820‌

FW2266831.UP.FTS.B,

29.8%,

12/16/26

..

3,850‌

3,821‌

FW2261815.UP.FTS.B,

29.81%,

12/16/26

.

24,267‌

24,103‌

FW2263763.UP.FTS.B,

30.01%,

12/16/26

.

7,310‌

7,263‌

FW2263141.UP.FTS.B,

30.02%,

12/16/26

.

19,040‌

18,919‌

FW2262711.UP.FTS.B,

30.17%,

12/16/26

.

1,074‌

1,067‌

FW2267112.UP.FTS.B,

30.21%,

12/16/26

.

955‌

948‌

FW2266827.UP.FTS.B,

30.28%,

12/16/26

.

7,530‌

7,487‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

89

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

FW2258081.UP.FTS.B,

30.3%,

12/16/26

..

$

4,832‌

$

4,797‌

FW2266883.UP.FTS.B,

30.32%,

12/16/26

.

14,649‌

14,556‌

FW2263169.UP.FTS.B,

30.33%,

12/16/26

.

1,660‌

1,650‌

FW2265218.UP.FTS.B,

30.39%,

12/16/26

.

1,430‌

1,419‌

FW2263430.UP.FTS.B,

30.41%,

12/16/26

.

2,442‌

2,419‌

FW2262301.UP.FTS.B,

30.52%,

12/16/26

.

4,884‌

4,853‌

FW2265725.UP.FTS.B,

30.59%,

12/16/26

.

2,907‌

2,886‌

FW2266526.UP.FTS.B,

30.61%,

12/16/26

.

3,907‌

3,882‌

FW2260220.UP.FTS.B,

30.63%,

12/16/26

.

1,168‌

1,157‌

FW2261708.UP.FTS.B,

30.67%,

12/16/26

.

2,930‌

2,912‌

FW2260393.UP.FTS.B,

30.86%,

12/16/26

.

14,166‌

14,076‌

FW2262425.UP.FTS.B,

30.86%,

12/16/26

.

1,368‌

1,359‌

FW2262919.UP.FTS.B,

30.86%,

12/16/26

.

3,036‌

3,019‌

FW2265545.UP.FTS.B,

30.86%,

12/16/26

.

2,123‌

2,107‌

FW2266558.UP.FTS.B,

30.86%,

12/16/26

.

1,954‌

1,942‌

FW2265419.UP.FTS.B,

30.91%,

12/16/26

.

2,052‌

2,039‌

FW2263294.UP.FTS.B,

30.92%,

12/16/26

.

1,200‌

203‌

FW2265302.UP.FTS.B,

30.93%,

12/16/26

.

2,345‌

2,330‌

FW2264612.UP.FTS.B,

30.94%,

12/16/26

.

3,419‌

3,398‌

FW2262897.UP.FTS.B,

30.96%,

12/16/26

.

4,148‌

4,132‌

FW2265508.UP.FTS.B,

30.96%,

12/16/26

.

3,029‌

3,010‌

FW2250121.UP.FTS.B,

30.97%,

12/16/26

.

1,490‌

439‌

FW2266459.UP.FTS.B,

30.98%,

12/16/26

.

1,143‌

1,135‌

FW2260770.UP.FTS.B,

31.08%,

12/16/26

.

1,466‌

1,456‌

FW2266146.UP.FTS.B,

31.1%,

12/16/26

..

1,466‌

1,457‌

FW2264148.UP.FTS.B,

31.14%,

12/16/26

.

45,534‌

45,248‌

FW2264279.UP.FTS.B,

31.14%,

12/16/26

.

1,857‌

1,845‌

FW2265722.UP.FTS.B,

31.16%,

12/16/26

.

6,840‌

6,797‌

FW2266925.UP.FTS.B,

31.22%,

12/16/26

.

17,882‌

17,770‌

FW2266682.UP.FTS.B,

31.23%,

12/16/26

.

4,475‌

4,445‌

FW2266978.UP.FTS.B,

31.24%,

12/16/26

.

2,638‌

2,622‌

FW2267010.UP.FTS.B,

31.33%,

12/16/26

.

2,834‌

2,816‌

FW2265797.UP.FTS.B,

31.5%,

12/16/26

..

7,451‌

7,109‌

FW2262129.UP.FTS.B,

31.54%,

12/16/26

.

7,078‌

7,023‌

FW2264175.UP.FTS.B,

31.56%,

12/16/26

.

2,037‌

2,024‌

FW2266885.UP.FTS.B,

31.56%,

12/16/26

.

7,006‌

6,672‌

FW2264530.UP.FTS.B,

31.65%,

12/16/26

.

18,000‌

2,682‌

FW2263240.UP.FTS.B,

32.21%,

12/16/26

.

3,618‌

3,595‌

FW2263862.UP.FTS.B,

32.71%,

12/16/26

.

4,303‌

4,277‌

FW2270153.UP.FTS.B,

7.21%,

12/17/26

..

4,310‌

4,296‌

FW2269719.UP.FTS.B,

7.26%,

12/17/26

..

11,183‌

10,551‌

L2269403.UP.FTS.B,

7.47%,

12/17/26

....

14,330‌

14,282‌

L2269259.UP.FTS.B,

8.25%,

12/17/26

....

2,877‌

2,867‌

L2268096.UP.FTS.B,

8.29%,

12/17/26

....

23,014‌

22,941‌

L2268631.UP.FTS.B,

8.37%,

12/17/26

....

6,713‌

6,692‌

L2267269.UP.FTS.B,

8.51%,

12/17/26

....

14,387‌

14,342‌

L2269424.UP.FTS.B,

8.98%,

12/17/26

....

10,556‌

10,523‌

L2269008.UP.FTS.B,

9%,

12/17/26

......

13,904‌

13,860‌

L2268916.UP.FTS.B,

9.12%,

12/17/26

....

6,718‌

6,697‌

L2270906.UP.FTS.B,

9.12%,

12/17/26

....

5,301‌

5,280‌

L2271105.UP.FTS.B,

9.17%,

12/17/26

....

32,633‌

32,531‌

L2270069.UP.FTS.B,

9.27%,

12/17/26

....

6,239‌

6,220‌

FW2267252.UP.FTS.B,

9.41%,

12/17/26

..

7,572‌

7,547‌

FW2268408.UP.FTS.B,

9.55%,

12/17/26

..

8,642‌

8,615‌

L2268700.UP.FTS.B,

9.56%,

12/17/26

....

3,844‌

3,835‌

FW2269726.UP.FTS.B,

9.71%,

12/17/26

..

14,405‌

14,361‌

FW2266232.UP.FTS.B,

10.16%,

12/17/26

.

4,804‌

4,789‌

FW2269466.UP.FTS.B,

10.59%,

12/17/26

.

3,859‌

3,843‌

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L2266480.UP.FTS.B,

10.61%,

12/17/26

...

$

3,364‌

$

3,347‌

L2269577.UP.FTS.B,

10.94%,

12/17/26

...

807‌

804‌

FW2269561.UP.FTS.B,

11.28%,

12/17/26

.

6,156‌

6,124‌

L2263798.UP.FTS.B,

11.32%,

12/17/26

...

25,866‌

25,732‌

L2269986.UP.FTS.B,

11.35%,

12/17/26

...

8,168‌

8,126‌

L2268167.UP.FTS.B,

11.62%,

12/17/26

...

3,351‌

3,329‌

L2270002.UP.FTS.B,

11.76%,

12/17/26

...

4,330‌

4,308‌

L2265322.UP.FTS.B,

11.78%,

12/17/26

...

3,957‌

3,935‌

L2269004.UP.FTS.B,

11.83%,

12/17/26

...

12,511‌

12,446‌

L2270705.UP.FTS.B,

12.61%,

12/17/26

...

9,631‌

9,582‌

L2270469.UP.FTS.B,

12.65%,

12/17/26

...

3,371‌

3,353‌

L2269154.UP.FTS.B,

12.96%,

12/17/26

...

19,270‌

19,172‌

L2267510.UP.FTS.B,

13.34%,

12/17/26

...

10,408‌

10,356‌

L2267025.UP.FTS.B,

13.36%,

12/17/26

...

5,205‌

5,179‌

FW2269825.UP.FTS.B,

13.55%,

12/17/26

.

4,795‌

4,770‌

L2264006.UP.FTS.B,

13.57%,

12/17/26

...

9,666‌

9,628‌

L2269188.UP.FTS.B,

14.18%,

12/17/26

...

5,208‌

5,182‌

FW2259052.UP.FTS.B,

14.44%,

12/17/26

.

6,753‌

6,720‌

FW2270034.UP.FTS.B,

14.45%,

12/17/26

.

34,345‌

34,175‌

L2270155.UP.FTS.B,

14.46%,

12/17/26

...

48,238‌

48,000‌

L2269061.UP.FTS.B,

14.52%,

12/17/26

...

4,342‌

4,320‌

L2268637.UP.FTS.B,

14.78%,

12/17/26

...

5,364‌

5,326‌

L2269180.UP.FTS.B,

15.1%,

12/17/26

....

4,344‌

4,323‌

L2267803.UP.FTS.B,

15.27%,

12/17/26

...

5,213‌

5,188‌

L2267899.UP.FTS.B,

15.39%,

12/17/26

...

9,656‌

9,609‌

FW2269286.UP.FTS.B,

15.6%,

12/17/26

..

28,680‌

28,533‌

L2269989.UP.FTS.B,

15.72%,

12/17/26

...

28,975‌

28,746‌

L2269665.UP.FTS.B,

16.5%,

12/17/26

....

15,727‌

15,603‌

L2267902.UP.FTS.B,

16.76%,

12/17/26

...

12,276‌

12,218‌

FW2269695.UP.FTS.B,

16.79%,

12/17/26

.

7,251‌

7,194‌

L2269419.UP.FTS.B,

17%,

12/17/26

.....

9,469‌

9,371‌

L2267913.UP.FTS.B,

17.09%,

12/17/26

...

4,835‌

4,812‌

FW2270884.UP.FTS.B,

17.41%,

12/17/26

.

15,477‌

15,356‌

L2267939.UP.FTS.B,

17.47%,

12/17/26

...

2,612‌

2,591‌

FW2269381.UP.FTS.B,

17.48%,

12/17/26

.

22,055‌

21,884‌

L2270105.UP.FTS.B,

17.48%,

12/17/26

...

1,935‌

1,920‌

FW2268458.UP.FTS.B,

17.71%,

12/17/26

.

9,675‌

9,580‌

L2270782.UP.FTS.B,

17.78%,

12/17/26

...

3,166‌

3,141‌

L2270652.UP.FTS.B,

17.8%,

12/17/26

....

2,709‌

2,688‌

FW2267256.UP.FTS.B,

17.83%,

12/17/26

.

9,665‌

9,569‌

FW2270802.UP.FTS.B,

17.83%,

12/17/26

.

968‌

960‌

L2268164.UP.FTS.B,

18.3%,

12/17/26

....

5,808‌

5,751‌

L2270265.UP.FTS.B,

18.3%,

12/17/26

....

1,936‌

1,921‌

L2267799.UP.FTS.B,

18.33%,

12/17/26

...

6,776‌

6,724‌

L2268221.UP.FTS.B,

18.86%,

12/17/26

...

2,324‌

2,306‌

FW2267424.UP.FTS.B,

18.94%,

12/17/26

.

4,842‌

4,795‌

L2267275.UP.FTS.B,

19%,

12/17/26

.....

1,588‌

1,573‌

L2267967.UP.FTS.B,

19.43%,

12/17/26

...

14,534‌

14,438‌

FW2268753.UP.FTS.B,

19.71%,

12/17/26

.

4,865‌

4,836‌

L2268708.UP.FTS.B,

19.88%,

12/17/26

...

4,846‌

4,799‌

L2251159.UP.FTS.B,

19.93%,

12/17/26

...

3,005‌

2,976‌

FW2270380.UP.FTS.B,

20.17%,

12/17/26

.

16,482‌

16,322‌

FW2267947.UP.FTS.B,

20.33%,

12/17/26

.

5,818‌

5,780‌

L2267364.UP.FTS.B,

20.36%,

12/17/26

...

2,133‌

2,113‌

L2268745.UP.FTS.B,

20.6%,

12/17/26

....

4,282‌

4,249‌

L2268926.UP.FTS.B,

20.65%,

12/17/26

...

26,187‌

25,934‌

L2268079.UP.FTS.B,

20.72%,

12/17/26

...

3,880‌

3,854‌

L2256028.UP.FTS.B,

20.74%,

12/17/26

...

5,816‌

5,759‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

90

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2270132.UP.FTS.B,

20.75%,

12/17/26

...

$

1,455‌

$

1,448‌

L2244360.UP.FTS.B,

20.77%,

12/17/26

...

1,455‌

1,441‌

FW2268177.UP.FTS.B,

20.82%,

12/17/26

.

3,395‌

3,373‌

L2270631.UP.FTS.B,

21.07%,

12/17/26

...

11,449‌

11,338‌

L2269703.UP.FTS.B,

21.08%,

12/17/26

...

3,396‌

3,374‌

L2268702.UP.FTS.B,

21.51%,

12/17/26

...

6,406‌

6,364‌

L2268043.UP.FTS.B,

21.67%,

12/17/26

...

48,533‌

48,067‌

FW2269279.UP.FTS.B,

21.88%,

12/17/26

.

14,562‌

14,468‌

FW2268457.UP.FTS.B,

22.16%,

12/17/26

.

11,167‌

11,095‌

FW2268655.UP.FTS.B,

22.38%,

12/17/26

.

24,280‌

24,048‌

FW2263842.UP.FTS.B,

22.41%,

12/17/26

.

14,568‌

14,474‌

L2214006.UP.FTS.B,

22.76%,

12/17/26

...

1,457‌

1,448‌

FW2268533.UP.FTS.B,

22.89%,

12/17/26

.

2,915‌

2,893‌

L2269383.UP.FTS.B,

23.1%,

12/17/26

....

3,845‌

3,817‌

FW2267880.UP.FTS.B,

23.11%,

12/17/26

.

9,717‌

9,625‌

FW2271155.UP.FTS.B,

23.14%,

12/17/26

.

11,661‌

11,586‌

FW2270621.UP.FTS.B,

23.29%,

12/17/26

.

4,859‌

4,828‌

L2267371.UP.FTS.B,

23.36%,

12/17/26

...

1,263‌

1,255‌

FW2268970.UP.FTS.B,

23.96%,

12/17/26

.

9,724‌

9,662‌

FW2270716.UP.FTS.B,

24.09%,

12/17/26

.

4,862‌

4,831‌

L2266509.UP.FTS.B,

24.1%,

12/17/26

....

1,848‌

1,836‌

L2269612.UP.FTS.B,

24.24%,

12/17/26

...

3,404‌

3,382‌

FW2268352.UP.FTS.B,

24.36%,

12/17/26

.

5,836‌

5,799‌

L2267445.UP.FTS.B,

24.36%,

12/17/26

...

11,672‌

11,598‌

L2269673.UP.FTS.B,

24.46%,

12/17/26

...

973‌

967‌

L2269803.UP.FTS.B,

24.56%,

12/17/26

...

13,607‌

13,520‌

L2269335.UP.FTS.B,

24.65%,

12/17/26

...

2,335‌

2,320‌

L2267833.UP.FTS.B,

24.72%,

12/17/26

...

1,362‌

1,349‌

L2267796.UP.FTS.B,

24.73%,

12/17/26

...

3,372‌

956‌

L2270986.UP.FTS.B,

24.74%,

12/17/26

...

973‌

964‌

L2269672.UP.FTS.B,

24.89%,

12/17/26

...

6,033‌

5,995‌

L2267867.UP.FTS.B,

24.95%,

12/17/26

...

9,764‌

9,711‌

FW2269543.UP.FTS.B,

24.98%,

12/17/26

.

11,191‌

11,120‌

FW2268690.UP.FTS.B,

25.01%,

12/17/26

.

9,882‌

9,413‌

L2270388.UP.FTS.B,

25.02%,

12/17/26

...

1,460‌

1,450‌

L2267853.UP.FTS.B,

25.14%,

12/17/26

...

2,531‌

2,515‌

L2268401.UP.FTS.B,

25.14%,

12/17/26

...

3,309‌

3,288‌

L2270209.UP.FTS.B,

25.15%,

12/17/26

...

2,044‌

2,031‌

L2268486.UP.FTS.B,

25.17%,

12/17/26

...

1,752‌

1,735‌

L2269834.UP.FTS.B,

25.17%,

12/17/26

...

1,389‌

406‌

L2268106.UP.FTS.B,

25.26%,

12/17/26

...

21,994‌

21,856‌

L2267192.UP.FTS.B,

25.29%,

12/17/26

...

2,044‌

2,031‌

L2269322.UP.FTS.B,

25.3%,

12/17/26

....

2,823‌

2,805‌

L2268468.UP.FTS.B,

25.32%,

12/17/26

...

3,407‌

3,385‌

L2269795.UP.FTS.B,

25.35%,

12/17/26

...

3,799‌

3,775‌

L2267659.UP.FTS.B,

25.42%,

12/17/26

...

2,066‌

1,967‌

L2269566.UP.FTS.B,

25.42%,

12/17/26

...

5,553‌

5,513‌

L2267258.UP.FTS.B,

25.45%,

12/17/26

...

4,478‌

4,450‌

FW2271097.UP.FTS.B,

25.52%,

12/17/26

.

3,444‌

3,278‌

FW2267291.UP.FTS.B,

25.54%,

12/17/26

.

1,000‌

150‌

FW2271160.UP.FTS.B,

25.56%,

12/17/26

.

16,549‌

16,446‌

L2268244.UP.FTS.B,

25.64%,

12/17/26

...

8,080‌

8,030‌

L2270962.UP.FTS.B,

25.74%,

12/17/26

...

3,400‌

3,378‌

FW2268057.UP.FTS.B,

25.81%,

12/17/26

.

1,947‌

1,935‌

L2270498.UP.FTS.B,

25.87%,

12/17/26

...

10,999‌

10,930‌

L2262513.UP.FTS.B,

25.9%,

12/17/26

....

6,816‌

6,774‌

FW2267132.UP.FTS.B,

25.96%,

12/17/26

.

10,711‌

10,645‌

L2265919.UP.FTS.B,

26.09%,

12/17/26

...

2,435‌

2,419‌

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW2271111.UP.FTS.B,

26.4%,

12/17/26

..

$

5,845‌

$

5,808‌

FW2268918.UP.FTS.B,

26.51%,

12/17/26

.

2,432‌

2,417‌

FW2267544.UP.FTS.B,

26.57%,

12/17/26

.

9,742‌

9,682‌

L2267802.UP.FTS.B,

26.75%,

12/17/26

...

4,774‌

4,745‌

FW2266279.UP.FTS.B,

26.77%,

12/17/26

.

1,968‌

576‌

FW2268433.UP.FTS.B,

26.8%,

12/17/26

..

3,897‌

3,873‌

FW2269440.UP.FTS.B,

26.99%,

12/17/26

.

844‌

835‌

FW2268673.UP.FTS.B,

27.06%,

12/17/26

.

24,363‌

24,213‌

FW2265199.UP.FTS.B,

27.31%,

12/17/26

.

5,292‌

5,255‌

FW2270087.UP.FTS.B,

27.31%,

12/17/26

.

14,807‌

14,100‌

L2267539.UP.FTS.B,

27.34%,

12/17/26

...

5,221‌

5,186‌

FW2265165.UP.FTS.B,

27.41%,

12/17/26

.

1,100‌

165‌

FW2270167.UP.FTS.B,

27.42%,

12/17/26

.

14,623‌

14,534‌

FW2267207.UP.FTS.B,

27.44%,

12/17/26

.

39,240‌

39,040‌

FW2258741.UP.FTS.B,

27.63%,

12/17/26

.

2,632‌

2,616‌

FW2267900.UP.FTS.B,

27.72%,

12/17/26

.

2,437‌

2,422‌

FW2260873.UP.FTS.B,

27.95%,

12/17/26

.

1,860‌

1,844‌

FW2267234.UP.FTS.B,

28.03%,

12/17/26

.

1,142‌

1,134‌

FW2270882.UP.FTS.B,

28.04%,

12/17/26

.

9,752‌

9,692‌

FW2271010.UP.FTS.B,

28.2%,

12/17/26

..

2,926‌

2,908‌

FW2267678.UP.FTS.B,

28.34%,

12/17/26

.

2,731‌

2,714‌

FW2268404.UP.FTS.B,

28.34%,

12/17/26

.

942‌

935‌

FW2270459.UP.FTS.B,

28.48%,

12/17/26

.

14,503‌

14,409‌

FW2267548.UP.FTS.B,

28.61%,

12/17/26

.

4,487‌

4,460‌

FW2269324.UP.FTS.B,

28.61%,

12/17/26

.

14,781‌

14,076‌

FW2269474.UP.FTS.B,

28.66%,

12/17/26

.

10,757‌

10,701‌

FW2266293.UP.FTS.B,

28.87%,

12/17/26

.

2,732‌

2,715‌

FW2269702.UP.FTS.B,

29.06%,

12/17/26

.

3,978‌

3,796‌

FW2269400.UP.FTS.B,

29.19%,

12/17/26

.

5,855‌

5,820‌

FW2270215.UP.FTS.B,

29.36%,

12/17/26

.

12,200‌

12,127‌

FW2267743.UP.FTS.B,

29.41%,

12/17/26

.

3,904‌

3,881‌

FW2271113.UP.FTS.B,

29.49%,

12/17/26

.

3,417‌

3,396‌

FW2269705.UP.FTS.B,

29.7%,

12/17/26

..

5,076‌

5,046‌

FW2269252.UP.FTS.B,

29.77%,

12/17/26

.

4,851‌

4,820‌

FW2269827.UP.FTS.B,

29.81%,

12/17/26

.

19,526‌

19,409‌

FW2268163.UP.FTS.B,

29.95%,

12/17/26

.

4,882‌

4,853‌

FW2268908.UP.FTS.B,

29.95%,

12/17/26

.

31,245‌

31,057‌

FW2260471.UP.FTS.B,

30.04%,

12/17/26

.

7,811‌

7,765‌

FW2270337.UP.FTS.B,

30.28%,

12/17/26

.

1,046‌

1,033‌

FW2270592.UP.FTS.B,

30.29%,

12/17/26

.

1,270‌

1,262‌

FW2271092.UP.FTS.B,

30.29%,

12/17/26

.

977‌

971‌

FW2260486.UP.FTS.B,

30.33%,

12/17/26

.

14,649‌

14,562‌

FW2269736.UP.FTS.B,

30.38%,

12/17/26

.

2,832‌

2,815‌

FW2266749.UP.FTS.B,

30.39%,

12/17/26

.

1,270‌

1,262‌

FW2268059.UP.FTS.B,

30.46%,

12/17/26

.

1,100‌

187‌

FW2270022.UP.FTS.B,

30.5%,

12/17/26

..

9,767‌

9,709‌

FW2267249.UP.FTS.B,

30.71%,

12/17/26

.

17,584‌

17,479‌

FW2268849.UP.FTS.B,

30.8%,

12/17/26

..

4,669‌

1,379‌

FW2267325.UP.FTS.B,

30.83%,

12/17/26

.

2,345‌

2,331‌

FW2270615.UP.FTS.B,

30.87%,

12/17/26

.

1,563‌

1,554‌

FW2267221.UP.FTS.B,

30.92%,

12/17/26

.

5,000‌

4,825‌

FW2269601.UP.FTS.B,

30.92%,

12/17/26

.

1,759‌

1,748‌

FW2266113.UP.FTS.B,

30.93%,

12/17/26

.

1,604‌

1,592‌

FW2267768.UP.FTS.B,

30.94%,

12/17/26

.

17,363‌

16,539‌

FW2269462.UP.FTS.B,

30.96%,

12/17/26

.

9,600‌

9,167‌

FW2269865.UP.FTS.B,

30.96%,

12/17/26

.

1,368‌

1,360‌

FW2267501.UP.FTS.B,

31.02%,

12/17/26

.

3,343‌

3,327‌

FW2269782.UP.FTS.B,

31.05%,

12/17/26

.

7,914‌

7,867‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

91

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

FW2270320.UP.FTS.B,

31.1%,

12/17/26

..

$

1,759‌

$

1,748‌

FW2269241.UP.FTS.B,

31.11%,

12/17/26

.

1,000‌

955‌

FW2267089.UP.FTS.B,

31.13%,

12/17/26

.

2,443‌

2,428‌

FW2267969.UP.FTS.B,

31.13%,

12/17/26

.

4,006‌

3,982‌

FW2269179.UP.FTS.B,

31.16%,

12/17/26

.

12,703‌

12,627‌

FW2270883.UP.FTS.B,

31.21%,

12/17/26

.

5,500‌

1,630‌

FW2269656.UP.FTS.B,

31.22%,

12/17/26

.

1,563‌

1,554‌

FW2268923.UP.FTS.B,

31.23%,

12/17/26

.

9,967‌

9,908‌

FW2269622.UP.FTS.B,

31.24%,

12/17/26

.

1,075‌

1,069‌

FW2266605.UP.FTS.B,

31.38%,

12/17/26

.

2,345‌

2,332‌

FW2267887.UP.FTS.B,

31.51%,

12/17/26

.

4,769‌

1,410‌

FW2267444.UP.FTS.B,

31.58%,

12/17/26

.

5,134‌

5,116‌

FW2268010.UP.FTS.B,

31.72%,

12/17/26

.

2,265‌

2,248‌

FW2475907.UP.FTS.B,

4.84%,

1/20/27

...

40,650‌

40,605‌

L2474579.UP.FTS.B,

4.95%,

1/20/27

....

24,540‌

24,512‌

L2474331.UP.FTS.B,

5.25%,

1/20/27

....

9,697‌

9,687‌

L2473861.UP.FTS.B,

5.46%,

1/20/27

....

2,912‌

2,909‌

L2471525.UP.FTS.B,

5.57%,

1/20/27

....

38,827‌

38,786‌

L2475396.UP.FTS.B,

5.61%,

1/20/27

....

48,535‌

48,484‌

L2474959.UP.FTS.B,

5.82%,

1/20/27

....

7,767‌

7,759‌

L2475014.UP.FTS.B,

5.92%,

1/20/27

....

1,165‌

1,164‌

L2472984.UP.FTS.B,

6.81%,

1/20/27

....

3,791‌

3,787‌

FW2475429.UP.FTS.B,

7.27%,

1/20/27

...

8,608‌

8,593‌

FW2473269.UP.FTS.B,

7.61%,

1/20/27

...

3,888‌

3,879‌

L2473931.UP.FTS.B,

7.74%,

1/20/27

....

16,519‌

16,481‌

L2452101.UP.FTS.B,

7.79%,

1/20/27

....

11,666‌

11,655‌

L2475724.UP.FTS.B,

7.86%,

1/20/27

....

9,681‌

9,658‌

L2473325.UP.FTS.B,

8.62%,

1/20/27

....

2,371‌

2,365‌

L2473450.UP.FTS.B,

8.65%,

1/20/27

....

24,318‌

24,264‌

FW2473955.UP.FTS.B,

8.68%,

1/20/27

...

3,792‌

3,783‌

L2475523.UP.FTS.B,

8.93%,

1/20/27

....

9,729‌

9,708‌

FW2473331.UP.FTS.B,

9.04%,

1/20/27

...

17,399‌

17,360‌

L2473688.UP.FTS.B,

9.31%,

1/20/27

....

9,731‌

9,710‌

L2474865.UP.FTS.B,

9.49%,

1/20/27

....

4,380‌

4,370‌

L2474080.UP.FTS.B,

9.61%,

1/20/27

....

9,206‌

9,186‌

L2472065.UP.FTS.B,

9.95%,

1/20/27

....

7,302‌

7,286‌

FW2475501.UP.FTS.B,

9.96%,

1/20/27

...

24,339‌

24,287‌

L2474958.UP.FTS.B,

10.36%,

1/20/27

....

4,000‌

1,038‌

FW2473429.UP.FTS.B,

10.42%,

1/20/27

..

4,869‌

4,859‌

FW2472711.UP.FTS.B,

10.61%,

1/20/27

..

4,837‌

4,808‌

L2473817.UP.FTS.B,

10.77%,

1/20/27

....

15,739‌

14,881‌

FW2472488.UP.FTS.B,

10.89%,

1/20/27

..

4,871‌

4,852‌

FW2475584.UP.FTS.B,

10.93%,

1/20/27

..

4,871‌

4,853‌

L2473418.UP.FTS.B,

10.96%,

1/20/27

....

17,535‌

17,470‌

L2474933.UP.FTS.B,

11.24%,

1/20/27

....

28,256‌

28,151‌

L2473427.UP.FTS.B,

11.29%,

1/20/27

....

19,475‌

19,402‌

L2473231.UP.FTS.B,

11.36%,

1/20/27

....

6,236‌

6,213‌

L2473112.UP.FTS.B,

11.72%,

1/20/27

....

4,873‌

4,855‌

L2471911.UP.FTS.B,

11.83%,

1/20/27

....

12,671‌

12,625‌

L2475887.UP.FTS.B,

12.32%,

1/20/27

....

9,746‌

9,711‌

L2471859.UP.FTS.B,

12.54%,

1/20/27

....

14,627‌

14,574‌

L2471923.UP.FTS.B,

12.71%,

1/20/27

....

48,761‌

48,585‌

L2474658.UP.FTS.B,

12.78%,

1/20/27

....

4,876‌

4,859‌

L2471497.UP.FTS.B,

12.88%,

1/20/27

....

7,315‌

7,289‌

L2471480.UP.FTS.B,

13.4%,

1/20/27

....

2,950‌

2,937‌

L2475656.UP.FTS.B,

13.51%,

1/20/27

....

2,927‌

2,917‌

L2474789.UP.FTS.B,

13.64%,

1/20/27

....

24,394‌

24,307‌

FW2474683.UP.FTS.B,

13.75%,

1/20/27

..

3,415‌

3,403‌

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L2474173.UP.FTS.B,

13.96%,

1/20/27

....

$

3,878‌

$

3,863‌

L2473476.UP.FTS.B,

14%,

1/20/27

......

6,494‌

6,467‌

L2471439.UP.FTS.B,

14.4%,

1/20/27

....

1,074‌

1,070‌

L2472468.UP.FTS.B,

14.46%,

1/20/27

....

5,857‌

5,837‌

L2474447.UP.FTS.B,

14.59%,

1/20/27

....

4,296‌

4,281‌

L2475352.UP.FTS.B,

14.64%,

1/20/27

....

17,769‌

17,707‌

L2475028.UP.FTS.B,

14.75%,

1/20/27

....

4,882‌

4,865‌

FW2470981.UP.FTS.B,

15.29%,

1/20/27

..

48,815‌

48,648‌

FW2471019.UP.FTS.B,

15.35%,

1/20/27

..

1,070‌

1,066‌

L2474491.UP.FTS.B,

15.9%,

1/20/27

....

4,297‌

4,273‌

L2471752.UP.FTS.B,

16.14%,

1/20/27

....

5,863‌

5,830‌

L2471789.UP.FTS.B,

16.78%,

1/20/27

....

29,242‌

29,141‌

L2471603.UP.FTS.B,

17.27%,

1/20/27

....

6,160‌

6,126‌

L2475804.UP.FTS.B,

18.1%,

1/20/27

....

2,360‌

2,341‌

L2471460.UP.FTS.B,

18.18%,

1/20/27

....

39,130‌

38,915‌

L2473506.UP.FTS.B,

18.22%,

1/20/27

....

9,798‌

9,752‌

L2475868.UP.FTS.B,

18.54%,

1/20/27

....

3,327‌

3,303‌

FW2472357.UP.FTS.B,

18.64%,

1/20/27

..

19,570‌

19,432‌

FW2472703.UP.FTS.B,

18.76%,

1/20/27

..

6,850‌

6,802‌

L2475296.UP.FTS.B,

18.87%,

1/20/27

....

1,947‌

1,936‌

L2474435.UP.FTS.B,

18.97%,

1/20/27

....

4,893‌

4,859‌

L2472163.UP.FTS.B,

19.55%,

1/20/27

....

4,298‌

4,268‌

L2471471.UP.FTS.B,

19.65%,

1/20/27

....

6,853‌

6,805‌

L2474729.UP.FTS.B,

20.39%,

1/20/27

....

9,794‌

9,748‌

FW2472361.UP.FTS.B,

20.41%,

1/20/27

..

10,382‌

10,333‌

L2472392.UP.FTS.B,

21.16%,

1/20/27

....

3,894‌

3,875‌

L2473064.UP.FTS.B,

21.2%,

1/20/27

....

1,274‌

1,265‌

FW2472901.UP.FTS.B,

21.26%,

1/20/27

..

9,798‌

9,752‌

FW2471738.UP.FTS.B,

21.32%,

1/20/27

..

6,859‌

6,812‌

L2473306.UP.FTS.B,

21.55%,

1/20/27

....

5,880‌

5,839‌

FW2471250.UP.FTS.B,

21.95%,

1/20/27

..

3,921‌

3,902‌

L2474203.UP.FTS.B,

22.33%,

1/20/27

....

14,677‌

14,607‌

L2471355.UP.FTS.B,

22.37%,

1/20/27

....

5,882‌

5,851‌

FW2470992.UP.FTS.B,

22.85%,

1/20/27

..

1,971‌

1,965‌

L2474696.UP.FTS.B,

23.07%,

1/20/27

....

3,106‌

3,090‌

FW2475846.UP.FTS.B,

23.25%,

1/20/27

..

4,413‌

4,393‌

L2471971.UP.FTS.B,

23.61%,

1/20/27

....

5,101‌

5,078‌

FW2474184.UP.FTS.B,

23.79%,

1/20/27

..

4,513‌

4,492‌

L2472806.UP.FTS.B,

24.05%,

1/20/27

....

11,662‌

11,603‌

FW2473402.UP.FTS.B,

24.11%,

1/20/27

..

17,661‌

17,581‌

FW2471587.UP.FTS.B,

24.31%,

1/20/27

..

1,962‌

1,954‌

L2473421.UP.FTS.B,

24.31%,

1/20/27

....

18,962‌

18,865‌

FW2475492.UP.FTS.B,

24.4%,

1/20/27

...

2,944‌

2,931‌

L2475345.UP.FTS.B,

24.61%,

1/20/27

....

4,907‌

4,874‌

L2474208.UP.FTS.B,

24.67%,

1/20/27

....

1,469‌

1,462‌

L2472023.UP.FTS.B,

24.83%,

1/20/27

....

2,650‌

2,638‌

L2473063.UP.FTS.B,

25.05%,

1/20/27

....

988‌

985‌

L2475329.UP.FTS.B,

25.09%,

1/20/27

....

4,908‌

4,886‌

L2470742.UP.FTS.B,

25.25%,

1/20/27

....

2,552‌

2,541‌

L2470870.UP.FTS.B,

25.27%,

1/20/27

....

4,516‌

4,496‌

L2471521.UP.FTS.B,

25.28%,

1/20/27

....

1,146‌

1,136‌

L2474417.UP.FTS.B,

25.31%,

1/20/27

....

2,913‌

2,895‌

L2471728.UP.FTS.B,

25.34%,

1/20/27

....

10,156‌

10,107‌

L2471667.UP.FTS.B,

25.39%,

1/20/27

....

7,657‌

7,623‌

L2474715.UP.FTS.B,

25.42%,

1/20/27

....

2,678‌

2,556‌

L2474965.UP.FTS.B,

25.47%,

1/20/27

....

1,669‌

1,662‌

L2474671.UP.FTS.B,

25.48%,

1/20/27

....

5,891‌

5,864‌

L2472226.UP.FTS.B,

25.56%,

1/20/27

....

3,240‌

3,226‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

92

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2475761.UP.FTS.B,

25.56%,

1/20/27

....

$

5,986‌

$

5,695‌

FW2472063.UP.FTS.B,

25.58%,

1/20/27

..

1,080‌

1,075‌

FW2472820.UP.FTS.B,

25.64%,

1/20/27

..

2,946‌

2,932‌

FW2472256.UP.FTS.B,

25.92%,

1/20/27

..

1,984‌

1,894‌

FW2471896.UP.FTS.B,

26.06%,

1/20/27

..

2,454‌

2,443‌

FW2473823.UP.FTS.B,

26.1%,

1/20/27

...

2,400‌

708‌

L2471756.UP.FTS.B,

26.47%,

1/20/27

....

1,079‌

1,074‌

FW2471391.UP.FTS.B,

26.65%,

1/20/27

..

2,456‌

2,445‌

L2474425.UP.FTS.B,

26.68%,

1/20/27

....

4,911‌

4,890‌

FW2472110.UP.FTS.B,

27.03%,

1/20/27

..

12,772‌

12,716‌

FW2474738.UP.FTS.B,

27.15%,

1/20/27

..

2,751‌

2,739‌

FW2473799.UP.FTS.B,

27.38%,

1/20/27

..

21,420‌

21,327‌

FW2475280.UP.FTS.B,

27.6%,

1/20/27

...

12,283‌

12,230‌

L2475015.UP.FTS.B,

27.6%,

1/20/27

....

5,896‌

5,870‌

FW2473516.UP.FTS.B,

27.87%,

1/20/27

..

4,400‌

1,378‌

FW2473211.UP.FTS.B,

27.91%,

1/20/27

..

5,995‌

5,969‌

L2473038.UP.FTS.B,

28.44%,

1/20/27

....

3,244‌

3,230‌

FW2475609.UP.FTS.B,

28.57%,

1/20/27

..

5,709‌

5,677‌

FW2475241.UP.FTS.B,

28.86%,

1/20/27

..

1,573‌

1,566‌

FW2472537.UP.FTS.B,

29.07%,

1/20/27

..

3,933‌

3,916‌

FW2474456.UP.FTS.B,

29.17%,

1/20/27

..

1,100‌

326‌

FW2471955.UP.FTS.B,

29.47%,

1/20/27

..

6,392‌

6,365‌

FW2472883.UP.FTS.B,

29.5%,

1/20/27

...

9,834‌

9,793‌

FW2472042.UP.FTS.B,

29.53%,

1/20/27

..

3,731‌

3,715‌

FW2468507.UP.FTS.B,

29.73%,

1/20/27

..

11,802‌

11,752‌

FW2471704.UP.FTS.B,

29.74%,

1/20/27

..

9,931‌

9,482‌

FW2475643.UP.FTS.B,

29.93%,

1/20/27

..

1,500‌

1,448‌

FW2473392.UP.FTS.B,

30.03%,

1/20/27

..

3,246‌

3,232‌

FW2475302.UP.FTS.B,

30.28%,

1/20/27

..

4,722‌

4,702‌

FW2473605.UP.FTS.B,

30.38%,

1/20/27

..

1,377‌

1,372‌

FW2474444.UP.FTS.B,

30.39%,

1/20/27

..

4,541‌

4,528‌

FW2471876.UP.FTS.B,

30.6%,

1/20/27

...

1,673‌

1,666‌

FW2473364.UP.FTS.B,

30.68%,

1/20/27

..

1,200‌

379‌

FW2474460.UP.FTS.B,

30.75%,

1/20/27

..

2,061‌

2,045‌

FW2473795.UP.FTS.B,

30.76%,

1/20/27

..

1,451‌

1,443‌

FW2473987.UP.FTS.B,

30.82%,

1/20/27

..

5,904‌

5,879‌

FW2471934.UP.FTS.B,

30.86%,

1/20/27

..

2,362‌

2,352‌

FW2473631.UP.FTS.B,

30.87%,

1/20/27

..

1,176‌

1,170‌

FW2473454.UP.FTS.B,

30.96%,

1/20/27

..

8,659‌

8,623‌

FW2475760.UP.FTS.B,

30.97%,

1/20/27

..

17,712‌

17,638‌

FW2474925.UP.FTS.B,

31.01%,

1/20/27

..

1,673‌

1,666‌

FW2425853.UP.FTS.B,

31.04%,

1/20/27

..

3,346‌

3,332‌

FW2472669.UP.FTS.B,

31.04%,

1/20/27

..

1,488‌

1,418‌

FW2471357.UP.FTS.B,

31.05%,

1/20/27

..

1,378‌

1,372‌

FW2470766.UP.FTS.B,

31.08%,

1/20/27

..

1,279‌

1,274‌

FW2475230.UP.FTS.B,

31.1%,

1/20/27

...

1,476‌

1,470‌

FW2472231.UP.FTS.B,

31.13%,

1/20/27

..

1,464‌

1,457‌

FW2473409.UP.FTS.B,

31.13%,

1/20/27

..

1,852‌

1,843‌

FW2474487.UP.FTS.B,

31.14%,

1/20/27

..

22,056‌

21,958‌

FW2471006.UP.FTS.B,

31.15%,

1/20/27

..

1,673‌

1,666‌

FW2471302.UP.FTS.B,

31.15%,

1/20/27

..

1,962‌

1,947‌

FW2475753.UP.FTS.B,

31.17%,

1/20/27

..

4,232‌

4,214‌

FW2470630.UP.FTS.B,

31.2%,

1/20/27

...

1,771‌

1,764‌

FW2417723.UP.FTS.B,

31.22%,

1/20/27

..

7,085‌

7,056‌

FW2473522.UP.FTS.B,

31.22%,

1/20/27

..

2,952‌

2,940‌

FW2475257.UP.FTS.B,

31.23%,

1/20/27

..

7,578‌

7,546‌

FW2473580.UP.FTS.B,

31.24%,

1/20/27

..

1,575‌

1,568‌

FW2473144.UP.FTS.B,

31.25%,

1/20/27

..

1,951‌

1,941‌

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW2471867.UP.FTS.B,

31.46%,

1/20/27

..

$

4,518‌

$

4,490‌

FW2473891.UP.FTS.B,

31.57%,

1/20/27

..

7,463‌

7,423‌

FW2473130.UP.FTS.B,

31.62%,

1/20/27

..

7,382‌

7,351‌

FW2473201.UP.FTS.B,

31.68%,

1/20/27

..

14,471‌

14,411‌

FW2475548.UP.FTS.B,

31.69%,

1/20/27

..

4,200‌

4,056‌

FW2471457.UP.FTS.B,

31.71%,

1/20/27

..

2,038‌

2,028‌

FW2472191.UP.FTS.B,

31.72%,

1/20/27

..

2,285‌

2,182‌

FW2475312.UP.FTS.B,

31.98%,

1/20/27

..

950‌

945‌

L2481582.UP.FTS.B,

4.62%,

1/21/27

....

38,796‌

38,754‌

L2478241.UP.FTS.B,

4.87%,

1/21/27

....

20,374‌

20,352‌

L2477575.UP.FTS.B,

4.96%,

1/21/27

....

11,240‌

11,226‌

L2478449.UP.FTS.B,

5.07%,

1/21/27

....

47,566‌

47,537‌

FW2478227.UP.FTS.B,

5.11%,

1/21/27

...

10,674‌

10,663‌

L2478495.UP.FTS.B,

5.12%,

1/21/27

....

9,704‌

9,694‌

L2446259.UP.FTS.B,

5.18%,

1/21/27

....

9,696‌

9,686‌

L2478632.UP.FTS.B,

5.24%,

1/21/27

....

19,409‌

19,389‌

L2477767.UP.FTS.B,

5.31%,

1/21/27

....

14,557‌

14,543‌

L2478466.UP.FTS.B,

5.39%,

1/21/27

....

10,666‌

10,655‌

L2478450.UP.FTS.B,

5.42%,

1/21/27

....

5,823‌

5,817‌

L2480061.UP.FTS.B,

5.73%,

1/21/27

....

11,552‌

11,541‌

L2459372.UP.FTS.B,

5.76%,

1/21/27

....

14,562‌

14,548‌

L2477090.UP.FTS.B,

5.84%,

1/21/27

....

5,825‌

5,819‌

L2477803.UP.FTS.B,

6.01%,

1/21/27

....

40,656‌

40,614‌

L2477744.UP.FTS.B,

6.17%,

1/21/27

....

35,930‌

35,895‌

L2476427.UP.FTS.B,

6.24%,

1/21/27

....

9,711‌

9,702‌

FW2476186.UP.FTS.B,

6.33%,

1/21/27

...

24,280‌

24,257‌

L2477424.UP.FTS.B,

6.43%,

1/21/27

....

19,425‌

19,407‌

L2480644.UP.FTS.B,

6.59%,

1/21/27

....

24,284‌

24,261‌

L2480479.UP.FTS.B,

6.6%,

1/21/27

.....

6,217‌

6,211‌

L2480622.UP.FTS.B,

6.63%,

1/21/27

....

31,085‌

31,055‌

L2479361.UP.FTS.B,

6.78%,

1/21/27

....

20,401‌

20,382‌

L2478485.UP.FTS.B,

6.81%,

1/21/27

....

14,573‌

14,559‌

L2478510.UP.FTS.B,

7.06%,

1/21/27

....

1,458‌

1,456‌

FW2480731.UP.FTS.B,

7.27%,

1/21/27

...

12,051‌

12,040‌

L2461602.UP.FTS.B,

7.51%,

1/21/27

....

48,599‌

48,492‌

L2478233.UP.FTS.B,

7.75%,

1/21/27

....

3,889‌

3,880‌

FW2480389.UP.FTS.B,

7.87%,

1/21/27

...

7,292‌

7,276‌

FW2478111.UP.FTS.B,

7.92%,

1/21/27

...

1,944‌

1,940‌

L2476700.UP.FTS.B,

8.05%,

1/21/27

....

4,360‌

4,346‌

L2482145.UP.FTS.B,

8.06%,

1/21/27

....

18,491‌

18,467‌

FW2479918.UP.FTS.B,

8.11%,

1/21/27

...

1,942‌

1,938‌

L2441819.UP.FTS.B,

8.4%,

1/21/27

.....

9,910‌

9,368‌

L2477326.UP.FTS.B,

8.52%,

1/21/27

....

24,316‌

24,264‌

L2480346.UP.FTS.B,

8.56%,

1/21/27

....

2,430‌

2,425‌

L2476447.UP.FTS.B,

8.62%,

1/21/27

....

9,720‌

9,699‌

L2479074.UP.FTS.B,

8.74%,

1/21/27

....

4,086‌

4,077‌

L2481499.UP.FTS.B,

9.01%,

1/21/27

....

3,591‌

3,583‌

L2477347.UP.FTS.B,

9.48%,

1/21/27

....

1,655‌

1,651‌

FW2478172.UP.FTS.B,

9.55%,

1/21/27

...

5,840‌

5,828‌

L2477329.UP.FTS.B,

9.62%,

1/21/27

....

8,760‌

8,742‌

L2477858.UP.FTS.B,

9.8%,

1/21/27

.....

23,850‌

23,801‌

L2450265.UP.FTS.B,

9.85%,

1/21/27

....

3,894‌

3,886‌

L2480599.UP.FTS.B,

9.99%,

1/21/27

....

22,590‌

21,395‌

FW2479183.UP.FTS.B,

10.05%,

1/21/27

..

8,276‌

8,245‌

FW2477988.UP.FTS.B,

10.11%,

1/21/27

..

3,895‌

3,880‌

FW2479731.UP.FTS.B,

10.13%,

1/21/27

..

15,189‌

15,158‌

L2477998.UP.FTS.B,

10.21%,

1/21/27

....

19,451‌

19,380‌

L2480405.UP.FTS.B,

10.65%,

1/21/27

....

5,844‌

5,823‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

93

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

FW2478301.UP.FTS.B,

10.7%,

1/21/27

...

$

7,208‌

$

7,193‌

FW2480560.UP.FTS.B,

10.78%,

1/21/27

..

5,357‌

5,338‌

L2476472.UP.FTS.B,

10.79%,

1/21/27

....

4,870‌

4,853‌

FW2480584.UP.FTS.B,

10.82%,

1/21/27

..

5,825‌

5,803‌

L2476061.UP.FTS.B,

10.91%,

1/21/27

....

22,990‌

22,944‌

L2476577.UP.FTS.B,

11.24%,

1/21/27

....

3,897‌

3,883‌

FW2480576.UP.FTS.B,

11.26%,

1/21/27

..

22,995‌

22,913‌

FW2480948.UP.FTS.B,

11.69%,

1/21/27

..

24,365‌

24,279‌

FW2480972.UP.FTS.B,

11.69%,

1/21/27

..

4,873‌

4,856‌

L2477410.UP.FTS.B,

11.79%,

1/21/27

....

14,501‌

14,447‌

FW2477060.UP.FTS.B,

11.89%,

1/21/27

..

29,308‌

29,244‌

FW2478362.UP.FTS.B,

11.97%,

1/21/27

..

4,848‌

4,830‌

L2453936.UP.FTS.B,

12.38%,

1/21/27

....

1,312‌

1,305‌

L2481328.UP.FTS.B,

12.51%,

1/21/27

....

4,875‌

4,859‌

L2479402.UP.FTS.B,

12.63%,

1/21/27

....

7,314‌

7,288‌

FW2481147.UP.FTS.B,

12.81%,

1/21/27

..

9,753‌

9,719‌

FW2480666.UP.FTS.B,

12.82%,

1/21/27

..

19,506‌

19,438‌

FW2476907.UP.FTS.B,

12.84%,

1/21/27

..

4,390‌

4,375‌

L2480627.UP.FTS.B,

13.09%,

1/21/27

....

6,243‌

6,221‌

L2479108.UP.FTS.B,

13.57%,

1/21/27

....

23,373‌

23,292‌

FW2476623.UP.FTS.B,

13.66%,

1/21/27

..

7,321‌

7,296‌

L2480452.UP.FTS.B,

14.24%,

1/21/27

....

4,881‌

4,864‌

L2480894.UP.FTS.B,

14.25%,

1/21/27

....

11,518‌

11,479‌

L2478328.UP.FTS.B,

14.36%,

1/21/27

....

24,405‌

24,322‌

L2481349.UP.FTS.B,

14.92%,

1/21/27

....

7,421‌

7,397‌

FW2476598.UP.FTS.B,

14.99%,

1/21/27

..

9,753‌

9,721‌

FW2479747.UP.FTS.B,

15%,

1/21/27

....

4,883‌

4,866‌

FW2476545.UP.FTS.B,

15.04%,

1/21/27

..

9,766‌

9,733‌

FW2476940.UP.FTS.B,

15.14%,

1/21/27

..

3,125‌

3,115‌

L2472995.UP.FTS.B,

15.34%,

1/21/27

....

2,930‌

2,914‌

L2476780.UP.FTS.B,

15.94%,

1/21/27

....

4,885‌

4,859‌

L2478232.UP.FTS.B,

15.98%,

1/21/27

....

9,802‌

9,768‌

FW2477987.UP.FTS.B,

16%,

1/21/27

....

6,840‌

6,803‌

FW2476886.UP.FTS.B,

16.02%,

1/21/27

..

4,828‌

4,801‌

L2478528.UP.FTS.B,

16.29%,

1/21/27

....

4,977‌

4,797‌

L2481261.UP.FTS.B,

16.32%,

1/21/27

....

29,318‌

29,160‌

L2480206.UP.FTS.B,

16.56%,

1/21/27

....

34,209‌

34,099‌

L2480635.UP.FTS.B,

16.62%,

1/21/27

....

4,887‌

4,861‌

L2481665.UP.FTS.B,

17.36%,

1/21/27

....

3,911‌

3,890‌

FW2476814.UP.FTS.B,

17.49%,

1/21/27

..

4,907‌

4,886‌

L2477405.UP.FTS.B,

17.76%,

1/21/27

....

21,257‌

21,141‌

L2479920.UP.FTS.B,

17.89%,

1/21/27

....

21,453‌

21,337‌

L2479195.UP.FTS.B,

17.9%,

1/21/27

....

5,860‌

5,820‌

FW2480097.UP.FTS.B,

18.93%,

1/21/27

..

3,132‌

3,115‌

L2482226.UP.FTS.B,

19.47%,

1/21/27

....

15,663‌

15,558‌

FW2477756.UP.FTS.B,

19.8%,

1/21/27

...

2,937‌

2,918‌

L2482112.UP.FTS.B,

19.84%,

1/21/27

....

4,313‌

4,294‌

FW2470384.UP.FTS.B,

19.99%,

1/21/27

..

5,875‌

5,836‌

FW2479611.UP.FTS.B,

20.18%,

1/21/27

..

9,793‌

9,750‌

FW2478138.UP.FTS.B,

20.35%,

1/21/27

..

19,463‌

19,370‌

L2481444.UP.FTS.B,

20.35%,

1/21/27

....

7,835‌

7,801‌

FW2478527.UP.FTS.B,

20.76%,

1/21/27

..

22,026‌

21,961‌

L2441362.UP.FTS.B,

20.97%,

1/21/27

....

4,910‌

4,890‌

FW2479867.UP.FTS.B,

21.17%,

1/21/27

..

3,135‌

3,122‌

L2481056.UP.FTS.B,

21.36%,

1/21/27

....

1,960‌

1,951‌

L2475998.UP.FTS.B,

21.42%,

1/21/27

....

8,787‌

8,727‌

FW2478245.UP.FTS.B,

22.19%,

1/21/27

..

4,867‌

4,844‌

FW2477649.UP.FTS.B,

22.43%,

1/21/27

..

20,000‌

19,100‌

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L2478209.UP.FTS.B,

22.48%,

1/21/27

....

$

5,882‌

$

5,857‌

L2476636.UP.FTS.B,

22.64%,

1/21/27

....

930‌

924‌

L2476441.UP.FTS.B,

22.74%,

1/21/27

....

5,393‌

5,370‌

L2481616.UP.FTS.B,

22.8%,

1/21/27

....

3,117‌

3,103‌

L2481541.UP.FTS.B,

22.92%,

1/21/27

....

7,001‌

6,946‌

L2481298.UP.FTS.B,

23.1%,

1/21/27

....

9,671‌

9,624‌

L2475307.UP.FTS.B,

23.31%,

1/21/27

....

2,158‌

2,149‌

FW2477001.UP.FTS.B,

23.4%,

1/21/27

...

40,000‌

37,954‌

FW2477308.UP.FTS.B,

23.41%,

1/21/27

..

8,551‌

8,492‌

FW2479645.UP.FTS.B,

23.45%,

1/21/27

..

3,923‌

3,907‌

L2476876.UP.FTS.B,

23.51%,

1/21/27

....

4,708‌

4,688‌

L2477364.UP.FTS.B,

23.94%,

1/21/27

....

5,839‌

5,812‌

FW2476171.UP.FTS.B,

24.01%,

1/21/27

..

3,532‌

3,517‌

L2476196.UP.FTS.B,

24.05%,

1/21/27

....

2,071‌

2,059‌

FW2477100.UP.FTS.B,

24.23%,

1/21/27

..

7,487‌

7,151‌

L2480692.UP.FTS.B,

24.23%,

1/21/27

....

1,079‌

1,075‌

L2480153.UP.FTS.B,

24.26%,

1/21/27

....

1,388‌

1,325‌

FW2476307.UP.FTS.B,

24.31%,

1/21/27

..

1,570‌

1,563‌

FW2481631.UP.FTS.B,

24.65%,

1/21/27

..

5,300‌

5,278‌

L2438024.UP.FTS.B,

24.89%,

1/21/27

....

2,061‌

2,053‌

L2481353.UP.FTS.B,

24.94%,

1/21/27

....

8,343‌

8,309‌

L2476929.UP.FTS.B,

25.01%,

1/21/27

....

4,703‌

4,675‌

L2477192.UP.FTS.B,

25.1%,

1/21/27

....

6,577‌

6,550‌

L2477602.UP.FTS.B,

25.12%,

1/21/27

....

3,926‌

3,901‌

FW2482147.UP.FTS.B,

25.15%,

1/21/27

..

5,399‌

5,377‌

FW2477086.UP.FTS.B,

25.18%,

1/21/27

..

9,816‌

9,776‌

L2477332.UP.FTS.B,

25.22%,

1/21/27

....

2,160‌

2,151‌

L2450581.UP.FTS.B,

25.25%,

1/21/27

....

4,516‌

4,497‌

L2478464.UP.FTS.B,

25.27%,

1/21/27

....

3,436‌

3,422‌

L2477866.UP.FTS.B,

25.29%,

1/21/27

....

7,690‌

7,668‌

L2480444.UP.FTS.B,

25.32%,

1/21/27

....

1,963‌

1,951‌

L2477167.UP.FTS.B,

25.34%,

1/21/27

....

4,810‌

4,791‌

L2476431.UP.FTS.B,

25.35%,

1/21/27

....

1,468‌

1,462‌

L2476905.UP.FTS.B,

25.37%,

1/21/27

....

19,296‌

19,238‌

L2480361.UP.FTS.B,

25.41%,

1/21/27

....

13,961‌

13,896‌

L2476949.UP.FTS.B,

25.42%,

1/21/27

....

2,190‌

2,091‌

L2480238.UP.FTS.B,

25.42%,

1/21/27

....

1,080‌

1,073‌

L2476482.UP.FTS.B,

25.43%,

1/21/27

....

1,080‌

1,075‌

L2477171.UP.FTS.B,

25.43%,

1/21/27

....

3,927‌

3,911‌

L2480918.UP.FTS.B,

25.48%,

1/21/27

....

1,374‌

1,369‌

L2480345.UP.FTS.B,

25.5%,

1/21/27

....

11,780‌

11,731‌

L2449100.UP.FTS.B,

25.52%,

1/21/27

....

3,274‌

3,126‌

L2477959.UP.FTS.B,

25.85%,

1/21/27

....

9,819‌

9,779‌

FW2475730.UP.FTS.B,

25.91%,

1/21/27

..

17,086‌

17,016‌

L2478675.UP.FTS.B,

25.98%,

1/21/27

....

18,962‌

18,865‌

L2482239.UP.FTS.B,

26.18%,

1/21/27

....

4,910‌

4,890‌

FW2477396.UP.FTS.B,

26.27%,

1/21/27

..

3,436‌

3,422‌

FW2479519.UP.FTS.B,

26.72%,

1/21/27

..

21,414‌

21,328‌

FW2478637.UP.FTS.B,

26.86%,

1/21/27

..

7,859‌

7,827‌

L2476870.UP.FTS.B,

26.94%,

1/21/27

....

2,947‌

2,929‌

FW2476597.UP.FTS.B,

26.97%,

1/21/27

..

5,872‌

5,847‌

FW2477799.UP.FTS.B,

27%,

1/21/27

....

29,473‌

29,354‌

FW2480047.UP.FTS.B,

27.03%,

1/21/27

..

4,923‌

4,909‌

FW2480713.UP.FTS.B,

27.03%,

1/21/27

..

2,947‌

2,935‌

FW2481491.UP.FTS.B,

27.24%,

1/21/27

..

4,900‌

1,456‌

FW2477621.UP.FTS.B,

27.45%,

1/21/27

..

6,289‌

6,264‌

FW2480920.UP.FTS.B,

27.54%,

1/21/27

..

4,534‌

4,521‌

FW2481710.UP.FTS.B,

27.63%,

1/21/27

..

1,176‌

1,172‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

94

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

FW2480795.UP.FTS.B,

27.7%,

1/21/27

...

$

2,752‌

$

2,741‌

FW2476474.UP.FTS.B,

28.03%,

1/21/27

..

2,457‌

2,447‌

FW2476973.UP.FTS.B,

28.09%,

1/21/27

..

1,966‌

1,958‌

FW2476707.UP.FTS.B,

28.1%,

1/21/27

...

7,800‌

7,765‌

FW2477133.UP.FTS.B,

28.1%,

1/21/27

...

8,354‌

8,321‌

FW2479206.UP.FTS.B,

28.15%,

1/21/27

..

8,530‌

8,495‌

FW2481757.UP.FTS.B,

28.3%,

1/21/27

...

7,372‌

7,343‌

FW2480026.UP.FTS.B,

28.39%,

1/21/27

..

4,481‌

4,281‌

FW2476585.UP.FTS.B,

28.45%,

1/21/27

..

5,308‌

5,287‌

FW2476276.UP.FTS.B,

28.48%,

1/21/27

..

5,407‌

5,385‌

FW2477763.UP.FTS.B,

28.51%,

1/21/27

..

7,864‌

7,833‌

FW2479900.UP.FTS.B,

28.61%,

1/21/27

..

7,865‌

7,816‌

FW2478384.UP.FTS.B,

28.67%,

1/21/27

..

1,962‌

1,954‌

FW2479323.UP.FTS.B,

28.7%,

1/21/27

...

1,475‌

1,469‌

FW2473316.UP.FTS.B,

28.74%,

1/21/27

..

19,708‌

19,653‌

FW2480203.UP.FTS.B,

28.89%,

1/21/27

..

9,691‌

9,643‌

FW2479380.UP.FTS.B,

28.96%,

1/21/27

..

18,192‌

18,121‌

FW2476695.UP.FTS.B,

29.04%,

1/21/27

..

5,381‌

5,358‌

FW2480041.UP.FTS.B,

29.19%,

1/21/27

..

967‌

962‌

FW2480886.UP.FTS.B,

29.21%,

1/21/27

..

26,809‌

25,607‌

FW2481406.UP.FTS.B,

29.25%,

1/21/27

..

3,500‌

1,108‌

FW2476839.UP.FTS.B,

29.48%,

1/21/27

..

7,376‌

7,347‌

FW2481763.UP.FTS.B,

29.55%,

1/21/27

..

4,917‌

4,898‌

FW2478881.UP.FTS.B,

29.78%,

1/21/27

..

17,999‌

17,929‌

FW2475995.UP.FTS.B,

29.91%,

1/21/27

..

2,979‌

2,846‌

FW2479769.UP.FTS.B,

29.92%,

1/21/27

..

19,672‌

19,596‌

FW2480439.UP.FTS.B,

29.92%,

1/21/27

..

3,443‌

3,434‌

FW2480801.UP.FTS.B,

30.1%,

1/21/27

...

4,918‌

4,899‌

FW2477825.UP.FTS.B,

30.12%,

1/21/27

..

1,476‌

1,470‌

FW2481836.UP.FTS.B,

30.13%,

1/21/27

..

1,192‌

1,138‌

FW2481337.UP.FTS.B,

30.2%,

1/21/27

...

999‌

955‌

FW2480521.UP.FTS.B,

30.21%,

1/21/27

..

1,967‌

1,960‌

FW2476060.UP.FTS.B,

30.53%,

1/21/27

..

5,903‌

5,880‌

FW2481818.UP.FTS.B,

30.54%,

1/21/27

..

16,000‌

15,293‌

FW2481370.UP.FTS.B,

30.57%,

1/21/27

..

1,279‌

1,274‌

FW2477616.UP.FTS.B,

30.74%,

1/21/27

..

1,278‌

1,273‌

FW2476388.UP.FTS.B,

30.81%,

1/21/27

..

8,484‌

8,462‌

FW2480390.UP.FTS.B,

30.84%,

1/21/27

..

2,905‌

2,891‌

FW2476651.UP.FTS.B,

30.87%,

1/21/27

..

1,322‌

1,314‌

FW2479214.UP.FTS.B,

30.9%,

1/21/27

...

10,627‌

10,586‌

FW2481906.UP.FTS.B,

30.96%,

1/21/27

..

1,082‌

1,078‌

FW2476575.UP.FTS.B,

30.97%,

1/21/27

..

1,181‌

1,176‌

FW2476052.UP.FTS.B,

31.01%,

1/21/27

..

2,600‌

775‌

FW2478647.UP.FTS.B,

31.06%,

1/21/27

..

4,625‌

4,607‌

FW2480600.UP.FTS.B,

31.1%,

1/21/27

...

3,543‌

3,529‌

FW2475866.UP.FTS.B,

31.11%,

1/21/27

..

1,490‌

1,424‌

FW2476779.UP.FTS.B,

31.12%,

1/21/27

..

1,082‌

1,078‌

FW2479381.UP.FTS.B,

31.12%,

1/21/27

..

7,393‌

7,373‌

FW2481657.UP.FTS.B,

31.12%,

1/21/27

..

2,127‌

2,116‌

FW2478988.UP.FTS.B,

31.13%,

1/21/27

..

24,602‌

24,508‌

FW2477204.UP.FTS.B,

31.15%,

1/21/27

..

26,729‌

25,494‌

FW2477761.UP.FTS.B,

31.16%,

1/21/27

..

2,257‌

2,248‌

FW2478252.UP.FTS.B,

31.16%,

1/21/27

..

1,156‌

1,150‌

FW2481372.UP.FTS.B,

31.16%,

1/21/27

..

1,378‌

1,372‌

FW2482179.UP.FTS.B,

31.16%,

1/21/27

..

1,771‌

1,765‌

FW2478875.UP.FTS.B,

31.18%,

1/21/27

..

4,661‌

4,617‌

FW2480803.UP.FTS.B,

31.18%,

1/21/27

..

1,181‌

1,176‌

FW2477853.UP.FTS.B,

31.19%,

1/21/27

..

13,187‌

13,137‌

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW2482160.UP.FTS.B,

31.2%,

1/21/27

...

$

2,362‌

$

2,353‌

FW2478503.UP.FTS.B,

31.21%,

1/21/27

..

2,963‌

2,956‌

FW2482218.UP.FTS.B,

31.21%,

1/21/27

..

2,568‌

2,561‌

FW2479301.UP.FTS.B,

31.22%,

1/21/27

..

1,077‌

1,072‌

FW2480515.UP.FTS.B,

31.22%,

1/21/27

..

1,771‌

1,765‌

FW2477499.UP.FTS.B,

31.39%,

1/21/27

..

3,248‌

3,235‌

FW2479880.UP.FTS.B,

31.51%,

1/21/27

..

3,642‌

3,628‌

FW2477324.UP.FTS.B,

31.89%,

1/21/27

..

3,248‌

3,236‌

FW2476930.UP.FTS.B,

32.05%,

1/21/27

..

994‌

949‌

FW2482047.UP.FTS.B,

32.18%,

1/21/27

..

14,275‌

14,221‌

FW2476788.UP.FTS.B,

32.36%,

1/21/27

..

4,923‌

4,904‌

FW2478961.UP.FTS.B,

33.21%,

1/21/27

..

1,773‌

1,766‌

L2656149.UP.FTS.B,

4.9%,

2/18/27

.....

41,170‌

41,144‌

L2656376.UP.FTS.B,

5.08%,

2/18/27

....

18,663‌

18,649‌

L2654934.UP.FTS.B,

6.41%,

2/18/27

....

12,810‌

12,804‌

FW2657802.UP.FTS.B,

7.01%,

2/18/27

...

5,913‌

5,911‌

L2657504.UP.FTS.B,

7.74%,

2/18/27

....

8,379‌

8,368‌

L2653557.UP.FTS.B,

8.97%,

2/18/27

....

11,747‌

11,743‌

L2653066.UP.FTS.B,

9.34%,

2/18/27

....

1,159‌

1,158‌

FW2653627.UP.FTS.B,

9.99%,

2/18/27

...

5,208‌

5,201‌

FW2657543.UP.FTS.B,

10.25%,

2/18/27

..

1,973‌

1,971‌

FW2657532.UP.FTS.B,

10.48%,

2/18/27

..

20,521‌

20,495‌

FW2657539.UP.FTS.B,

10.96%,

2/18/27

..

10,830‌

10,804‌

FW2653836.UP.FTS.B,

10.99%,

2/18/27

..

3,230‌

3,219‌

L2656455.UP.FTS.B,

11.03%,

2/18/27

....

17,761‌

17,719‌

L2655850.UP.FTS.B,

11.44%,

2/18/27

....

26,644‌

26,582‌

FW2655412.UP.FTS.B,

11.77%,

2/18/27

..

13,817‌

13,785‌

L2657392.UP.FTS.B,

12.09%,

2/18/27

....

13,719‌

13,688‌

FW2654161.UP.FTS.B,

12.29%,

2/18/27

..

1,479‌

1,477‌

FW2654483.UP.FTS.B,

12.32%,

2/18/27

..

7,403‌

7,386‌

L2655901.UP.FTS.B,

12.32%,

2/18/27

....

6,909‌

6,894‌

L2654898.UP.FTS.B,

12.38%,

2/18/27

....

25,663‌

25,605‌

L2653887.UP.FTS.B,

12.55%,

2/18/27

....

3,652‌

3,644‌

FW2653749.UP.FTS.B,

12.56%,

2/18/27

..

4,936‌

4,924‌

L2654736.UP.FTS.B,

12.58%,

2/18/27

....

10,638‌

10,611‌

FW2654132.UP.FTS.B,

12.73%,

2/18/27

..

20,928‌

20,881‌

FW2653495.UP.FTS.B,

12.88%,

2/18/27

..

7,892‌

7,874‌

L2653291.UP.FTS.B,

12.9%,

2/18/27

....

3,949‌

3,940‌

FW2654033.UP.FTS.B,

13.1%,

2/18/27

...

7,500‌

7,103‌

FW2655119.UP.FTS.B,

13.31%,

2/18/27

..

11,830‌

11,804‌

FW2653830.UP.FTS.B,

13.35%,

2/18/27

..

14,908‌

14,876‌

L2654894.UP.FTS.B,

13.54%,

2/18/27

....

21,722‌

21,674‌

L2657674.UP.FTS.B,

13.58%,

2/18/27

....

24,619‌

24,563‌

FW2656357.UP.FTS.B,

13.79%,

2/18/27

..

10,565‌

10,543‌

L2657722.UP.FTS.B,

13.79%,

2/18/27

....

5,931‌

5,928‌

L2656469.UP.FTS.B,

13.95%,

2/18/27

....

7,234‌

7,216‌

FW2657507.UP.FTS.B,

13.96%,

2/18/27

..

3,160‌

3,153‌

L2655146.UP.FTS.B,

14.16%,

2/18/27

....

7,357‌

7,340‌

FW2657754.UP.FTS.B,

14.34%,

2/18/27

..

2,765‌

2,759‌

FW2657544.UP.FTS.B,

14.38%,

2/18/27

..

19,060‌

19,020‌

FW2656039.UP.FTS.B,

14.43%,

2/18/27

..

2,271‌

2,267‌

FW2655411.UP.FTS.B,

14.47%,

2/18/27

..

2,655‌

2,649‌

L2655911.UP.FTS.B,

14.57%,

2/18/27

....

14,814‌

14,783‌

FW2653497.UP.FTS.B,

14.59%,

2/18/27

..

15,802‌

15,769‌

L2653926.UP.FTS.B,

14.76%,

2/18/27

....

15,901‌

15,868‌

FW2655361.UP.FTS.B,

14.81%,

2/18/27

..

6,420‌

6,406‌

L2656634.UP.FTS.B,

15.1%,

2/18/27

....

10,788‌

10,763‌

FW2656874.UP.FTS.B,

15.48%,

2/18/27

..

3,260‌

3,248‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

95

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2654780.UP.FTS.B,

15.57%,

2/18/27

....

$

7,409‌

$

7,394‌

L2657406.UP.FTS.B,

15.83%,

2/18/27

....

15,807‌

15,748‌

L2656610.UP.FTS.B,

15.94%,

2/18/27

....

14,819‌

14,790‌

FW2655700.UP.FTS.B,

16.18%,

2/18/27

..

9,682‌

9,663‌

FW2657294.UP.FTS.B,

16.22%,

2/18/27

..

21,420‌

21,377‌

FW2652611.UP.FTS.B,

16.26%,

2/18/27

..

2,174‌

2,166‌

FW2655943.UP.FTS.B,

16.38%,

2/18/27

..

1,087‌

1,085‌

FW2655801.UP.FTS.B,

16.39%,

2/18/27

..

5,335‌

5,316‌

L2655952.UP.FTS.B,

16.47%,

2/18/27

....

11,857‌

11,813‌

L2657168.UP.FTS.B,

16.47%,

2/18/27

....

1,976‌

1,969‌

L2653161.UP.FTS.B,

16.51%,

2/18/27

....

9,881‌

9,844‌

L2655199.UP.FTS.B,

16.63%,

2/18/27

....

11,280‌

11,277‌

FW2656762.UP.FTS.B,

16.73%,

2/18/27

..

24,703‌

24,613‌

FW2654911.UP.FTS.B,

16.77%,

2/18/27

..

2,408‌

2,398‌

L2656088.UP.FTS.B,

16.82%,

2/18/27

....

4,941‌

4,923‌

L2656733.UP.FTS.B,

17.08%,

2/18/27

....

5,000‌

4,750‌

L2654909.UP.FTS.B,

17.1%,

2/18/27

....

5,435‌

5,425‌

L2657493.UP.FTS.B,

17.25%,

2/18/27

....

24,706‌

24,617‌

FW2655755.UP.FTS.B,

17.36%,

2/18/27

..

8,426‌

8,407‌

L2656274.UP.FTS.B,

17.4%,

2/18/27

....

1,977‌

1,967‌

FW2656859.UP.FTS.B,

17.55%,

2/18/27

..

7,412‌

7,386‌

L2648053.UP.FTS.B,

17.58%,

2/18/27

....

6,415‌

6,391‌

FW2655219.UP.FTS.B,

17.61%,

2/18/27

..

26,601‌

26,497‌

FW2654968.UP.FTS.B,

17.64%,

2/18/27

..

3,855‌

3,836‌

L2655372.UP.FTS.B,

17.8%,

2/18/27

....

7,413‌

7,378‌

FW2657700.UP.FTS.B,

17.81%,

2/18/27

..

12,651‌

12,591‌

L2656742.UP.FTS.B,

17.82%,

2/18/27

....

5,436‌

5,410‌

FW2653332.UP.FTS.B,

17.84%,

2/18/27

..

14,332‌

14,305‌

FW2655696.UP.FTS.B,

17.99%,

2/18/27

..

5,335‌

5,309‌

L2653109.UP.FTS.B,

18.03%,

2/18/27

....

1,483‌

1,476‌

L2653689.UP.FTS.B,

18.18%,

2/18/27

....

3,477‌

3,471‌

FW2656568.UP.FTS.B,

18.19%,

2/18/27

..

6,425‌

6,413‌

L2653164.UP.FTS.B,

18.21%,

2/18/27

....

10,873‌

10,834‌

FW2655873.UP.FTS.B,

18.24%,

2/18/27

..

1,087‌

1,083‌

FW2654520.UP.FTS.B,

18.49%,

2/18/27

..

3,262‌

3,247‌

L2657353.UP.FTS.B,

18.73%,

2/18/27

....

14,829‌

14,802‌

FW2654489.UP.FTS.B,

18.88%,

2/18/27

..

8,107‌

8,078‌

L2655430.UP.FTS.B,

19%,

2/18/27

......

29,659‌

29,521‌

L2654519.UP.FTS.B,

19.08%,

2/18/27

....

1,177‌

1,169‌

L2654244.UP.FTS.B,

19.24%,

2/18/27

....

9,590‌

9,546‌

L2657386.UP.FTS.B,

19.29%,

2/18/27

....

9,887‌

9,841‌

L2647332.UP.FTS.B,

19.32%,

2/18/27

....

3,955‌

3,941‌

L2654570.UP.FTS.B,

19.68%,

2/18/27

....

1,088‌

1,084‌

FW2656424.UP.FTS.B,

19.82%,

2/18/27

..

3,263‌

3,248‌

L2655217.UP.FTS.B,

20.04%,

2/18/27

....

12,262‌

12,220‌

L2656336.UP.FTS.B,

20.22%,

2/18/27

....

1,681‌

1,673‌

L2657227.UP.FTS.B,

20.27%,

2/18/27

....

3,066‌

3,052‌

FW2654532.UP.FTS.B,

20.37%,

2/18/27

..

8,910‌

8,880‌

FW2657187.UP.FTS.B,

20.48%,

2/18/27

..

20,175‌

20,083‌

FW2657677.UP.FTS.B,

20.65%,

2/18/27

..

5,439‌

5,415‌

L2655606.UP.FTS.B,

20.79%,

2/18/27

....

4,945‌

4,928‌

L2656206.UP.FTS.B,

20.82%,

2/18/27

....

19,780‌

19,691‌

FW2654620.UP.FTS.B,

20.83%,

2/18/27

..

5,389‌

5,366‌

L2656191.UP.FTS.B,

20.98%,

2/18/27

....

4,922‌

4,902‌

L2656992.UP.FTS.B,

21.03%,

2/18/27

....

2,077‌

2,068‌

L2657661.UP.FTS.B,

21.21%,

2/18/27

....

39,451‌

39,300‌

FW2652869.UP.FTS.B,

21.62%,

2/18/27

..

9,892‌

9,859‌

FW2657310.UP.FTS.B,

21.81%,

2/18/27

..

3,462‌

3,450‌

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L2656138.UP.FTS.B,

21.85%,

2/18/27

....

$

38,580‌

$

38,408‌

L2655942.UP.FTS.B,

21.87%,

2/18/27

....

11,871‌

11,832‌

L2623349.UP.FTS.B,

22.05%,

2/18/27

....

4,452‌

4,432‌

L2655022.UP.FTS.B,

22.08%,

2/18/27

....

5,342‌

5,318‌

L2654644.UP.FTS.B,

22.15%,

2/18/27

....

6,430‌

6,409‌

FW2657679.UP.FTS.B,

22.17%,

2/18/27

..

7,420‌

7,393‌

L2657136.UP.FTS.B,

22.31%,

2/18/27

....

1,072‌

1,067‌

FW2652896.UP.FTS.B,

22.36%,

2/18/27

..

12,861‌

12,815‌

L2654476.UP.FTS.B,

22.41%,

2/18/27

....

10,883‌

10,843‌

FW2653768.UP.FTS.B,

22.47%,

2/18/27

..

29,681‌

29,573‌

L2656298.UP.FTS.B,

22.6%,

2/18/27

....

3,265‌

3,253‌

FW2653494.UP.FTS.B,

22.62%,

2/18/27

..

9,597‌

9,566‌

FW2652640.UP.FTS.B,

22.63%,

2/18/27

..

17,413‌

17,350‌

L2656980.UP.FTS.B,

22.68%,

2/18/27

....

7,915‌

7,887‌

L2657169.UP.FTS.B,

22.71%,

2/18/27

....

14,832‌

14,778‌

L2656560.UP.FTS.B,

22.9%,

2/18/27

....

14,841‌

14,788‌

FW2657631.UP.FTS.B,

23.06%,

2/18/27

..

14,842‌

14,777‌

L2656205.UP.FTS.B,

23.2%,

2/18/27

....

11,874‌

11,822‌

L2655993.UP.FTS.B,

23.24%,

2/18/27

....

1,286‌

1,282‌

FW2657375.UP.FTS.B,

23.29%,

2/18/27

..

2,771‌

2,761‌

L2657188.UP.FTS.B,

23.47%,

2/18/27

....

1,682‌

1,676‌

L2657051.UP.FTS.B,

23.78%,

2/18/27

....

1,679‌

1,673‌

FW2657769.UP.FTS.B,

24.23%,

2/18/27

..

11,730‌

11,686‌

FW2653982.UP.FTS.B,

24.33%,

2/18/27

..

10,689‌

10,651‌

L2655559.UP.FTS.B,

24.41%,

2/18/27

....

1,584‌

1,578‌

L2654164.UP.FTS.B,

24.66%,

2/18/27

....

15,737‌

15,683‌

L2657363.UP.FTS.B,

24.67%,

2/18/27

....

5,840‌

5,819‌

FW2656663.UP.FTS.B,

24.74%,

2/18/27

..

21,577‌

21,502‌

FW2656497.UP.FTS.B,

24.83%,

2/18/27

..

3,167‌

3,156‌

L2656199.UP.FTS.B,

25.05%,

2/18/27

....

3,266‌

3,255‌

L2653710.UP.FTS.B,

25.07%,

2/18/27

....

13,206‌

13,158‌

L2654424.UP.FTS.B,

25.15%,

2/18/27

....

1,287‌

1,281‌

L2656850.UP.FTS.B,

25.16%,

2/18/27

....

982‌

978‌

L2654529.UP.FTS.B,

25.17%,

2/18/27

....

1,976‌

1,968‌

L2656202.UP.FTS.B,

25.17%,

2/18/27

....

1,287‌

1,281‌

L2653782.UP.FTS.B,

25.31%,

2/18/27

....

16,029‌

15,960‌

FW2656918.UP.FTS.B,

25.32%,

2/18/27

..

5,939‌

5,919‌

L2653474.UP.FTS.B,

25.32%,

2/18/27

....

33,260‌

33,120‌

L2657540.UP.FTS.B,

25.32%,

2/18/27

....

1,683‌

1,677‌

L2655238.UP.FTS.B,

25.36%,

2/18/27

....

3,267‌

3,255‌

L2657584.UP.FTS.B,

25.37%,

2/18/27

....

7,919‌

7,892‌

L2654896.UP.FTS.B,

25.41%,

2/18/27

....

2,376‌

2,368‌

FW2654047.UP.FTS.B,

25.42%,

2/18/27

..

7,424‌

7,393‌

L2654135.UP.FTS.B,

25.48%,

2/18/27

....

26,758‌

26,648‌

L2655788.UP.FTS.B,

25.63%,

2/18/27

....

3,762‌

3,749‌

FW2654552.UP.FTS.B,

25.75%,

2/18/27

..

5,346‌

5,328‌

FW2656585.UP.FTS.B,

25.76%,

2/18/27

..

5,456‌

5,446‌

FW2656323.UP.FTS.B,

25.93%,

2/18/27

..

2,170‌

2,162‌

L2656092.UP.FTS.B,

25.95%,

2/18/27

....

5,615‌

5,594‌

FW2654356.UP.FTS.B,

26.11%,

2/18/27

..

6,511‌

6,487‌

FW2654205.UP.FTS.B,

26.46%,

2/18/27

..

8,119‌

8,091‌

FW2653266.UP.FTS.B,

26.59%,

2/18/27

..

6,931‌

6,908‌

FW2656738.UP.FTS.B,

26.73%,

2/18/27

..

10,792‌

10,756‌

L2655918.UP.FTS.B,

26.79%,

2/18/27

....

1,093‌

1,091‌

L2655310.UP.FTS.B,

26.89%,

2/18/27

....

9,902‌

9,869‌

FW2657625.UP.FTS.B,

26.98%,

2/18/27

..

7,393‌

7,367‌

FW2653312.UP.FTS.B,

27.24%,

2/18/27

..

2,178‌

2,171‌

FW2653485.UP.FTS.B,

27.32%,

2/18/27

..

9,902‌

9,870‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

96

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

FW2656567.UP.FTS.B,

27.44%,

2/18/27

..

$

3,268‌

$

3,257‌

L2655961.UP.FTS.B,

27.71%,

2/18/27

....

1,759‌

1,752‌

FW2655208.UP.FTS.B,

28.11%,

2/18/27

..

43,081‌

42,941‌

L2656270.UP.FTS.B,

28.21%,

2/18/27

....

7,923‌

7,897‌

FW2656127.UP.FTS.B,

28.24%,

2/18/27

..

2,575‌

2,567‌

FW2657401.UP.FTS.B,

28.27%,

2/18/27

..

9,904‌

9,872‌

FW2653273.UP.FTS.B,

28.29%,

2/18/27

..

24,760‌

24,680‌

FW2653857.UP.FTS.B,

28.32%,

2/18/27

..

21,402‌

21,322‌

FW2657275.UP.FTS.B,

28.44%,

2/18/27

..

4,348‌

4,333‌

FW2657124.UP.FTS.B,

28.84%,

2/18/27

..

9,821‌

9,786‌

FW2654272.UP.FTS.B,

29.23%,

2/18/27

..

8,321‌

8,294‌

FW2654274.UP.FTS.B,

29.24%,

2/18/27

..

16,205‌

16,151‌

FW2657590.UP.FTS.B,

29.26%,

2/18/27

..

5,145‌

5,120‌

FW2656870.UP.FTS.B,

29.33%,

2/18/27

..

8,937‌

8,923‌

FW2653868.UP.FTS.B,

29.69%,

2/18/27

..

6,934‌

6,913‌

FW2654804.UP.FTS.B,

29.69%,

2/18/27

..

6,929‌

6,906‌

FW2655382.UP.FTS.B,

29.8%,

2/18/27

...

6,934‌

6,913‌

FW2656448.UP.FTS.B,

29.81%,

2/18/27

..

5,151‌

5,135‌

FW2655553.UP.FTS.B,

30.03%,

2/18/27

..

10,501‌

10,468‌

FW2654690.UP.FTS.B,

30.25%,

2/18/27

..

1,100‌

1,050‌

FW2652797.UP.FTS.B,

30.47%,

2/18/27

..

1,684‌

1,679‌

FW2655034.UP.FTS.B,

30.5%,

2/18/27

...

3,861‌

3,848‌

FW2656345.UP.FTS.B,

30.5%,

2/18/27

...

3,369‌

3,358‌

FW2657689.UP.FTS.B,

30.56%,

2/18/27

..

13,870‌

13,828‌

FW2654309.UP.FTS.B,

30.59%,

2/18/27

..

1,387‌

1,383‌

FW2655125.UP.FTS.B,

30.64%,

2/18/27

..

6,000‌

5,790‌

FW2655193.UP.FTS.B,

30.68%,

2/18/27

..

10,106‌

10,075‌

FW2656342.UP.FTS.B,

30.71%,

2/18/27

..

1,054‌

1,049‌

FW2657586.UP.FTS.B,

30.8%,

2/18/27

...

3,171‌

3,161‌

FW2657094.UP.FTS.B,

30.81%,

2/18/27

..

5,548‌

5,531‌

FW2657660.UP.FTS.B,

30.81%,

2/18/27

..

1,100‌

1,051‌

FW2653954.UP.FTS.B,

30.9%,

2/18/27

...

2,180‌

2,173‌

FW2655259.UP.FTS.B,

30.9%,

2/18/27

...

4,954‌

4,939‌

FW2655652.UP.FTS.B,

30.92%,

2/18/27

..

31,507‌

31,388‌

FW2653746.UP.FTS.B,

30.93%,

2/18/27

..

2,081‌

2,074‌

FW2655450.UP.FTS.B,

30.94%,

2/18/27

..

2,279‌

2,272‌

FW2654606.UP.FTS.B,

30.98%,

2/18/27

..

1,000‌

955‌

FW2654029.UP.FTS.B,

30.99%,

2/18/27

..

1,982‌

1,976‌

FW2657179.UP.FTS.B,

30.99%,

2/18/27

..

6,539‌

6,519‌

FW2641769.UP.FTS.B,

31.01%,

2/18/27

..

2,477‌

2,469‌

FW2655057.UP.FTS.B,

31.04%,

2/18/27

..

2,972‌

2,963‌

FW2654823.UP.FTS.B,

31.05%,

2/18/27

..

2,773‌

2,760‌

FW2654181.UP.FTS.B,

31.06%,

2/18/27

..

994‌

993‌

FW2656038.UP.FTS.B,

31.06%,

2/18/27

..

1,387‌

1,383‌

FW2652957.UP.FTS.B,

31.1%,

2/18/27

...

1,174‌

1,169‌

FW2655513.UP.FTS.B,

31.12%,

2/18/27

..

12,286‌

12,249‌

FW2656050.UP.FTS.B,

31.14%,

2/18/27

..

2,279‌

2,272‌

FW2657278.UP.FTS.B,

31.15%,

2/18/27

..

1,228‌

1,221‌

FW2653051.UP.FTS.B,

31.18%,

2/18/27

..

1,189‌

1,185‌

FW2656456.UP.FTS.B,

31.18%,

2/18/27

..

1,619‌

1,611‌

FW2657778.UP.FTS.B,

31.18%,

2/18/27

..

4,558‌

4,544‌

FW2653443.UP.FTS.B,

31.19%,

2/18/27

..

15,435‌

15,382‌

FW2657050.UP.FTS.B,

31.21%,

2/18/27

..

4,059‌

4,046‌

FW2657281.UP.FTS.B,

31.21%,

2/18/27

..

2,279‌

2,272‌

FW2653784.UP.FTS.B,

31.22%,

2/18/27

..

6,595‌

6,572‌

FW2653299.UP.FTS.B,

31.23%,

2/18/27

..

4,261‌

4,248‌

FW2620309.UP.FTS.B,

31.31%,

2/18/27

..

17,142‌

17,090‌

FW2656784.UP.FTS.B,

31.34%,

2/18/27

..

3,369‌

3,359‌

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW2657233.UP.FTS.B,

31.44%,

2/18/27

..

$

2,874‌

$

2,865‌

FW2652650.UP.FTS.B,

31.46%,

2/18/27

..

4,954‌

4,939‌

FW2656739.UP.FTS.B,

31.47%,

2/18/27

..

2,576‌

2,568‌

FW2655423.UP.FTS.B,

31.75%,

2/18/27

..

7,927‌

7,904‌

FW2655134.UP.FTS.B,

34.51%,

2/18/27

..

2,521‌

2,498‌

L2782778.UP.FTS.B,

5.38%,

3/14/27

....

20,000‌

20,018‌

FW2779815.UP.FTS.B,

5.52%,

3/14/27

...

7,925‌

7,921‌

FW2785873.UP.FTS.B,

5.67%,

3/14/27

...

26,900‌

26,889‌

L2786047.UP.FTS.B,

5.71%,

3/14/27

....

5,000‌

4,998‌

FW2785225.UP.FTS.B,

5.78%,

3/14/27

...

19,500‌

19,492‌

L2785472.UP.FTS.B,

5.82%,

3/14/27

....

8,000‌

8,007‌

L2785533.UP.FTS.B,

5.87%,

3/14/27

....

11,700‌

11,711‌

FW2725624.UP.FTS.B,

5.92%,

3/14/27

...

50,000‌

49,980‌

L2782378.UP.FTS.B,

5.98%,

3/14/27

....

50,000‌

49,980‌

L2785586.UP.FTS.B,

6.13%,

3/14/27

....

50,000‌

50,047‌

L2785761.UP.FTS.B,

6.14%,

3/14/27

....

40,000‌

39,985‌

L2788888.UP.FTS.B,

6.14%,

3/14/27

....

10,000‌

9,996‌

L2781494.UP.FTS.B,

6.32%,

3/14/27

....

11,800‌

11,811‌

L2783749.UP.FTS.B,

6.39%,

3/14/27

....

8,000‌

7,997‌

L2785809.UP.FTS.B,

6.41%,

3/14/27

....

6,400‌

6,398‌

L2784317.UP.FTS.B,

6.43%,

3/14/27

....

6,500‌

6,506‌

L2786287.UP.FTS.B,

6.48%,

3/14/27

....

2,800‌

2,799‌

L2780792.UP.FTS.B,

6.49%,

3/14/27

....

29,000‌

28,990‌

L2789358.UP.FTS.B,

6.49%,

3/14/27

....

50,000‌

49,982‌

L2779720.UP.FTS.B,

6.5%,

3/14/27

.....

28,000‌

28,027‌

L2784003.UP.FTS.B,

6.62%,

3/14/27

....

16,500‌

16,494‌

L2789856.UP.FTS.B,

6.67%,

3/14/27

....

9,100‌

9,097‌

L2786197.UP.FTS.B,

6.8%,

3/14/27

.....

6,500‌

6,506‌

L2776276.UP.FTS.B,

6.89%,

3/14/27

....

25,000‌

24,992‌

L2785513.UP.FTS.B,

6.9%,

3/14/27

.....

16,100‌

16,116‌

L2781885.UP.FTS.B,

7.11%,

3/14/27

.....

19,100‌

19,119‌

L2783455.UP.FTS.B,

7.28%,

3/14/27

....

40,700‌

40,740‌

L2784258.UP.FTS.B,

7.29%,

3/14/27

....

10,000‌

9,997‌

L2789414.UP.FTS.B,

7.29%,

3/14/27

....

12,800‌

12,813‌

L2788274.UP.FTS.B,

7.36%,

3/14/27

....

5,500‌

5,498‌

L2781599.UP.FTS.B,

7.38%,

3/14/27

....

5,400‌

5,398‌

L2784013.UP.FTS.B,

7.38%,

3/14/27

....

20,021‌

19,998‌

FW2784023.UP.FTS.B,

7.45%,

3/14/27

...

37,700‌

37,738‌

L2781125.UP.FTS.B,

7.45%,

3/14/27

.....

7,500‌

7,498‌

L2783926.UP.FTS.B,

7.49%,

3/14/27

....

18,300‌

18,318‌

FW2782750.UP.FTS.B,

7.59%,

3/14/27

...

15,000‌

14,996‌

L2781938.UP.FTS.B,

7.6%,

3/14/27

.....

50,000‌

50,050‌

FW2780236.UP.FTS.B,

7.69%,

3/14/27

...

35,000‌

35,054‌

FW2788438.UP.FTS.B,

7.69%,

3/14/27

...

2,200‌

2,202‌

L2780758.UP.FTS.B,

7.69%,

3/14/27

....

2,000‌

2,002‌

L2788290.UP.FTS.B,

7.73%,

3/14/27

....

9,500‌

9,491‌

L2781769.UP.FTS.B,

7.86%,

3/14/27

....

21,400‌

21,433‌

L2784113.UP.FTS.B,

7.9%,

3/14/27

......

11,000‌

10,990‌

L2769930.UP.FTS.B,

7.96%,

3/14/27

....

31,000‌

30,971‌

L2783088.UP.FTS.B,

8.03%,

3/14/27

....

9,800‌

9,789‌

FW2784974.UP.FTS.B,

8.13%,

3/14/27

...

46,600‌

46,558‌

FW2788677.UP.FTS.B,

8.13%,

3/14/27

...

19,100‌

19,130‌

L2780083.UP.FTS.B,

8.23%,

3/14/27

....

45,000‌

45,070‌

FW2781791.UP.FTS.B,

8.25%,

3/14/27

...

30,800‌

30,772‌

L2789155.UP.FTS.B,

8.26%,

3/14/27

....

25,000‌

25,039‌

L2780176.UP.FTS.B,

8.31%,

3/14/27

....

50,000‌

49,955‌

L2764977.UP.FTS.B,

8.36%,

3/14/27

....

10,800‌

10,817‌

L2779428.UP.FTS.B,

8.36%,

3/14/27

....

10,500‌

10,516‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

97

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2784617.UP.FTS.B,

8.41%,

3/14/27

....

$

21,300‌

$

21,333‌

L2782254.UP.FTS.B,

8.42%,

3/14/27

....

8,000‌

8,008‌

L2782003.UP.FTS.B,

8.5%,

3/14/27

.....

23,000‌

22,980‌

L2787246.UP.FTS.B,

8.5%,

3/14/27

.....

2,500‌

2,498‌

FW2783606.UP.FTS.B,

8.52%,

3/14/27

...

14,800‌

14,787‌

L2784591.UP.FTS.B,

8.72%,

3/14/27

....

50,000‌

50,079‌

FW2780109.UP.FTS.B,

8.73%,

3/14/27

...

15,000‌

15,024‌

L2789064.UP.FTS.B,

8.75%,

3/14/27

....

19,800‌

19,783‌

L2789316.UP.FTS.B,

8.8%,

3/14/27

.....

50,000‌

49,957‌

L2786540.UP.FTS.B,

8.81%,

3/14/27

....

5,400‌

5,395‌

FW2782565.UP.FTS.B,

8.84%,

3/14/27

...

15,000‌

15,024‌

L2780281.UP.FTS.B,

8.85%,

3/14/27

....

3,000‌

2,997‌

L2788641.UP.FTS.B,

8.88%,

3/14/27

....

10,700‌

10,717‌

L2789324.UP.FTS.B,

8.92%,

3/14/27

....

10,600‌

10,598‌

L2783739.UP.FTS.B,

8.99%,

3/14/27

....

8,451‌

8,443‌

L2785284.UP.FTS.B,

9.11%,

3/14/27

.....

5,400‌

5,395‌

L2785081.UP.FTS.B,

9.13%,

3/14/27

....

17,600‌

17,585‌

L2786222.UP.FTS.B,

9.23%,

3/14/27

....

20,000‌

20,032‌

L2780310.UP.FTS.B,

9.24%,

3/14/27

....

18,000‌

17,985‌

L2782105.UP.FTS.B,

9.39%,

3/14/27

....

50,000‌

50,081‌

L2780047.UP.FTS.B,

9.4%,

3/14/27

.....

26,700‌

26,678‌

L2780296.UP.FTS.B,

9.41%,

3/14/27

....

32,200‌

32,173‌

L2786749.UP.FTS.B,

9.46%,

3/14/27

....

10,700‌

10,717‌

L2782273.UP.FTS.B,

9.48%,

3/14/27

....

50,000‌

49,959‌

L2783357.UP.FTS.B,

9.56%,

3/14/27

....

25,000‌

25,040‌

FW2782447.UP.FTS.B,

9.67%,

3/14/27

...

22,000‌

22,036‌

L2784348.UP.FTS.B,

9.7%,

3/14/27

.....

8,400‌

8,414‌

FW2783021.UP.FTS.B,

9.72%,

3/14/27

...

12,900‌

12,921‌

L2779827.UP.FTS.B,

9.72%,

3/14/27

....

12,500‌

12,490‌

FW2782625.UP.FTS.B,

9.76%,

3/14/27

...

3,800‌

3,797‌

L2780798.UP.FTS.B,

9.77%,

3/14/27

....

9,000‌

8,993‌

L2784962.UP.FTS.B,

9.82%,

3/14/27

....

30,000‌

29,976‌

L2786875.UP.FTS.B,

9.85%,

3/14/27

....

27,800‌

27,778‌

L2788004.UP.FTS.B,

9.9%,

3/14/27

.....

20,000‌

20,033‌

FW2780201.UP.FTS.B,

9.94%,

3/14/27

...

37,700‌

37,762‌

L2787965.UP.FTS.B,

9.96%,

3/14/27

....

8,600‌

8,614‌

FW2781336.UP.FTS.B,

9.97%,

3/14/27

...

13,000‌

12,998‌

FW2783844.UP.FTS.B,

10%,

3/14/27

....

5,000‌

4,996‌

L2784700.UP.FTS.B,

10.03%,

3/14/27

....

30,000‌

30,049‌

L2781395.UP.FTS.B,

10.07%,

3/14/27

....

27,100‌

27,166‌

FW2780207.UP.FTS.B,

10.09%,

3/14/27

..

9,000‌

9,022‌

L2784335.UP.FTS.B,

10.17%,

3/14/27

....

3,000‌

3,005‌

L2789352.UP.FTS.B,

10.18%,

3/14/27

....

13,000‌

12,977‌

L2785217.UP.FTS.B,

10.21%,

3/14/27

....

28,200‌

28,268‌

FW2779711.UP.FTS.B,

10.28%,

3/14/27

..

34,700‌

34,784‌

FW2780436.UP.FTS.B,

10.28%,

3/14/27

..

5,900‌

5,910‌

L2784387.UP.FTS.B,

10.32%,

3/14/27

....

26,400‌

26,354‌

L2785592.UP.FTS.B,

10.32%,

3/14/27

....

17,000‌

17,041‌

L2782038.UP.FTS.B,

10.33%,

3/14/27

....

50,000‌

49,962‌

L2787115.UP.FTS.B,

10.53%,

3/14/27

....

22,300‌

22,283‌

FW2781353.UP.FTS.B,

10.54%,

3/14/27

..

32,000‌

32,053‌

L2788929.UP.FTS.B,

10.57%,

3/14/27

....

50,000‌

49,914‌

L2785171.UP.FTS.B,

10.59%,

3/14/27

....

6,400‌

6,411‌

FW2781880.UP.FTS.B,

10.6%,

3/14/27

...

21,000‌

21,051‌

L2781419.UP.FTS.B,

10.69%,

3/14/27

....

5,000‌

5,012‌

L2780112.UP.FTS.B,

10.7%,

3/14/27

.....

10,000‌

9,983‌

L2784328.UP.FTS.B,

10.71%,

3/14/27

....

43,300‌

43,226‌

L2786415.UP.FTS.B,

10.79%,

3/14/27

....

14,700‌

14,736‌

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW2780382.UP.FTS.B,

10.8%,

3/14/27

...

$

5,400‌

$

5,413‌

FW2784241.UP.FTS.B,

10.82%,

3/14/27

..

10,600‌

10,582‌

FW2783122.UP.FTS.B,

10.84%,

3/14/27

..

4,000‌

3,993‌

L2780654.UP.FTS.B,

10.86%,

3/14/27

....

3,300‌

3,298‌

L2790773.UP.FTS.B,

10.86%,

3/14/27

....

50,000‌

50,084‌

L2785568.UP.FTS.B,

10.89%,

3/14/27

....

10,700‌

10,682‌

L2785551.UP.FTS.B,

10.91%,

3/14/27

....

11,700‌

11,729‌

FW2781725.UP.FTS.B,

11.04%,

3/14/27

..

12,000‌

11,980‌

FW2781831.UP.FTS.B,

11.07%,

3/14/27

..

2,200‌

2,204‌

FW2786689.UP.FTS.B,

11.07%,

3/14/27

..

3,300‌

3,308‌

L2780428.UP.FTS.B,

11.08%,

3/14/27

....

4,800‌

4,792‌

L2787329.UP.FTS.B,

11.09%,

3/14/27

....

3,500‌

3,494‌

L2786414.UP.FTS.B,

11.1%,

3/14/27

.....

6,500‌

6,516‌

L2785769.UP.FTS.B,

11.11%,

3/14/27

....

16,000‌

15,973‌

FW2788732.UP.FTS.B,

11.12%,

3/14/27

..

11,200‌

11,228‌

L2780313.UP.FTS.B,

11.15%,

3/14/27

....

50,000‌

50,123‌

L2784551.UP.FTS.B,

11.17%,

3/14/27

....

50,000‌

49,964‌

FW2790608.UP.FTS.B,

11.2%,

3/14/27

...

7,500‌

7,487‌

L2782637.UP.FTS.B,

11.23%,

3/14/27

....

10,000‌

9,993‌

L2786841.UP.FTS.B,

11.25%,

3/14/27

....

10,000‌

9,983‌

FW2784513.UP.FTS.B,

11.29%,

3/14/27

..

43,100‌

43,027‌

FW2783670.UP.FTS.B,

11.3%,

3/14/27

...

10,000‌

9,983‌

FW2787754.UP.FTS.B,

11.35%,

3/14/27

..

21,000‌

20,965‌

L2780596.UP.FTS.B,

11.42%,

3/14/27

....

12,600‌

12,579‌

L2783876.UP.FTS.B,

11.45%,

3/14/27

....

23,400‌

23,458‌

L2785637.UP.FTS.B,

11.46%,

3/14/27

....

7,000‌

6,988‌

L2785144.UP.FTS.B,

11.47%,

3/14/27

....

10,000‌

9,983‌

L2786029.UP.FTS.B,

11.5%,

3/14/27

.....

4,000‌

4,010‌

FW2783898.UP.FTS.B,

11.53%,

3/14/27

..

5,400‌

5,391‌

L2784105.UP.FTS.B,

11.55%,

3/14/27

....

15,000‌

14,975‌

L2781415.UP.FTS.B,

11.61%,

3/14/27

....

10,000‌

10,017‌

FW2782127.UP.FTS.B,

11.62%,

3/14/27

..

11,500‌

11,529‌

L2782114.UP.FTS.B,

11.62%,

3/14/27

....

7,000‌

7,017‌

L2783581.UP.FTS.B,

11.64%,

3/14/27

....

15,000‌

15,037‌

L2787996.UP.FTS.B,

11.64%,

3/14/27

....

15,500‌

15,489‌

L2784589.UP.FTS.B,

11.65%,

3/14/27

....

50,000‌

49,917‌

L2785056.UP.FTS.B,

11.66%,

3/14/27

....

10,000‌

10,025‌

L2789734.UP.FTS.B,

11.68%,

3/14/27

....

19,000‌

18,968‌

L2789438.UP.FTS.B,

11.71%,

3/14/27

....

50,000‌

50,085‌

L2785328.UP.FTS.B,

11.77%,

3/14/27

....

6,800‌

6,789‌

L2779976.UP.FTS.B,

11.78%,

3/14/27

....

6,400‌

6,411‌

L2782264.UP.FTS.B,

11.8%,

3/14/27

.....

6,500‌

6,516‌

L2781320.UP.FTS.B,

11.83%,

3/14/27

....

30,200‌

30,275‌

L2782425.UP.FTS.B,

11.95%,

3/14/27

....

7,500‌

7,488‌

L2786075.UP.FTS.B,

11.95%,

3/14/27

....

19,300‌

19,348‌

FW2779771.UP.FTS.B,

12.03%,

3/14/27

..

10,000‌

9,993‌

L2784459.UP.FTS.B,

12.04%,

3/14/27

....

7,400‌

7,388‌

L2784249.UP.FTS.B,

12.05%,

3/14/27

....

35,000‌

34,943‌

L2779695.UP.FTS.B,

12.07%,

3/14/27

....

24,000‌

23,961‌

L2785156.UP.FTS.B,

12.07%,

3/14/27

....

32,700‌

32,782‌

L2786241.UP.FTS.B,

12.07%,

3/14/27

....

25,000‌

24,959‌

L2785391.UP.FTS.B,

12.1%,

3/14/27

....

4,400‌

4,408‌

L2781389.UP.FTS.B,

12.12%,

3/14/27

....

20,000‌

19,967‌

L2785480.UP.FTS.B,

12.19%,

3/14/27

....

18,000‌

18,045‌

L2783293.UP.FTS.B,

12.24%,

3/14/27

....

15,000‌

14,976‌

L2787613.UP.FTS.B,

12.25%,

3/14/27

....

8,600‌

8,615‌

L2781089.UP.FTS.B,

12.27%,

3/14/27

....

5,300‌

5,291‌

L2755118.UP.FTS.B,

12.3%,

3/14/27

.....

12,000‌

12,030‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

98

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2781183.UP.FTS.B,

12.35%,

3/14/27

....

$

36,000‌

$

36,091‌

FW2699067.UP.FTS.B,

12.38%,

3/14/27

..

15,000‌

15,038‌

FW2781045.UP.FTS.B,

12.41%,

3/14/27

..

7,400‌

7,419‌

L2789411.UP.FTS.B,

12.41%,

3/14/27

....

7,500‌

7,519‌

L2789736.UP.FTS.B,

12.41%,

3/14/27

....

8,000‌

8,020‌

L2785022.UP.FTS.B,

12.43%,

3/14/27

....

20,000‌

19,987‌

L2789283.UP.FTS.B,

12.43%,

3/14/27

....

20,500‌

20,467‌

L2783693.UP.FTS.B,

12.45%,

3/14/27

....

6,400‌

6,416‌

L2784664.UP.FTS.B,

12.45%,

3/14/27

....

10,800‌

10,827‌

L2785612.UP.FTS.B,

12.47%,

3/14/27

....

6,581‌

6,569‌

L2782955.UP.FTS.B,

12.51%,

3/14/27

....

16,000‌

16,040‌

L2784478.UP.FTS.B,

12.55%,

3/14/27

....

5,400‌

5,414‌

L2781845.UP.FTS.B,

12.57%,

3/14/27

....

19,300‌

19,349‌

FW2785689.UP.FTS.B,

12.59%,

3/14/27

..

2,200‌

2,196‌

L2785511.UP.FTS.B,

12.59%,

3/14/27

....

2,700‌

2,696‌

L2784205.UP.FTS.B,

12.6%,

3/14/27

....

12,000‌

12,030‌

FW2784584.UP.FTS.B,

12.62%,

3/14/27

..

37,200‌

37,140‌

L2782900.UP.FTS.B,

12.63%,

3/14/27

....

11,900‌

11,881‌

L2785749.UP.FTS.B,

12.65%,

3/14/27

....

15,000‌

14,976‌

L2780464.UP.FTS.B,

12.66%,

3/14/27

....

32,300‌

32,382‌

FW2785256.UP.FTS.B,

12.69%,

3/14/27

..

50,000‌

50,126‌

FW2786124.UP.FTS.B,

12.69%,

3/14/27

..

9,500‌

9,524‌

L2784017.UP.FTS.B,

12.7%,

3/14/27

....

2,400‌

2,396‌

L2783427.UP.FTS.B,

12.77%,

3/14/27

....

7,000‌

6,989‌

FW2788838.UP.FTS.B,

12.8%,

3/14/27

...

3,200‌

3,208‌

L2779872.UP.FTS.B,

12.82%,

3/14/27

....

2,000‌

2,005‌

L2780197.UP.FTS.B,

12.84%,

3/14/27

....

15,000‌

14,976‌

FW2784121.UP.FTS.B,

12.85%,

3/14/27

..

21,800‌

21,855‌

FW2784701.UP.FTS.B,

12.85%,

3/14/27

..

21,300‌

21,354‌

L2780893.UP.FTS.B,

12.86%,

3/14/27

....

1,000‌

1,003‌

FW2784873.UP.FTS.B,

12.88%,

3/14/27

..

16,000‌

16,041‌

FW2780429.UP.FTS.B,

12.96%,

3/14/27

..

6,400‌

6,416‌

L2757291.UP.FTS.B,

12.97%,

3/14/27

....

4,300‌

4,311‌

L2781348.UP.FTS.B,

12.98%,

3/14/27

....

15,400‌

15,376‌

L2787912.UP.FTS.B,

12.99%,

3/14/27

....

6,400‌

6,390‌

L2789648.UP.FTS.B,

12.99%,

3/14/27

....

6,000‌

5,991‌

L2759372.UP.FTS.B,

13%,

3/14/27

......

50,000‌

50,127‌

L2782861.UP.FTS.B,

13%,

3/14/27

......

2,700‌

2,707‌

L2785427.UP.FTS.B,

13.01%,

3/14/27

....

2,500‌

2,506‌

L2786071.UP.FTS.B,

13.02%,

3/14/27

....

6,500‌

6,490‌

FW2779969.UP.FTS.B,

13.03%,

3/14/27

..

10,000‌

9,984‌

L2785265.UP.FTS.B,

13.07%,

3/14/27

....

4,300‌

4,311‌

L2790092.UP.FTS.B,

13.11%,

3/14/27

....

4,300‌

4,308‌

L2785621.UP.FTS.B,

13.13%,

3/14/27

....

50,000‌

49,922‌

L2789482.UP.FTS.B,

13.14%,

3/14/27

....

19,000‌

19,048‌

L2763346.UP.FTS.B,

13.17%,

3/14/27

....

3,300‌

3,308‌

L2786729.UP.FTS.B,

13.17%,

3/14/27

....

20,000‌

20,051‌

L2781033.UP.FTS.B,

13.19%,

3/14/27

....

15,000‌

14,977‌

L2789300.UP.FTS.B,

13.2%,

3/14/27

....

13,000‌

12,980‌

L2783463.UP.FTS.B,

13.21%,

3/14/27

....

10,700‌

10,719‌

L2785549.UP.FTS.B,

13.25%,

3/14/27

....

6,800‌

6,789‌

L2785339.UP.FTS.B,

13.26%,

3/14/27

....

13,000‌

12,980‌

FW2787932.UP.FTS.B,

13.27%,

3/14/27

..

3,300‌

3,308‌

FW2775855.UP.FTS.B,

13.32%,

3/14/27

..

50,000‌

49,922‌

L2789460.UP.FTS.B,

13.33%,

3/14/27

....

18,000‌

17,972‌

FW2780715.UP.FTS.B,

13.35%,

3/14/27

..

10,000‌

10,026‌

L2762745.UP.FTS.B,

13.39%,

3/14/27

....

17,900‌

17,946‌

L2778828.UP.FTS.B,

13.39%,

3/14/27

....

31,700‌

31,781‌

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW2785848.UP.FTS.B,

13.4%,

3/14/27

...

$

12,600‌

$

12,580‌

L2785931.UP.FTS.B,

13.45%,

3/14/27

....

8,500‌

8,522‌

FW2787165.UP.FTS.B,

13.47%,

3/14/27

..

10,000‌

9,985‌

L2782603.UP.FTS.B,

13.49%,

3/14/27

....

15,000‌

14,977‌

FW2789036.UP.FTS.B,

13.51%,

3/14/27

..

25,500‌

25,461‌

L2780870.UP.FTS.B,

13.52%,

3/14/27

....

4,200‌

4,211‌

L2785005.UP.FTS.B,

13.54%,

3/14/27

....

15,000‌

14,977‌

L2778983.UP.FTS.B,

13.58%,

3/14/27

....

9,600‌

9,585‌

FW2785775.UP.FTS.B,

13.59%,

3/14/27

..

23,800‌

23,763‌

L2785594.UP.FTS.B,

13.62%,

3/14/27

....

3,800‌

3,794‌

L2790624.UP.FTS.B,

13.63%,

3/14/27

....

12,500‌

12,532‌

L2778942.UP.FTS.B,

13.72%,

3/14/27

....

6,500‌

6,517‌

FW2789945.UP.FTS.B,

13.77%,

3/14/27

..

8,500‌

8,487‌

L2784118.UP.FTS.B,

13.78%,

3/14/27

....

24,500‌

24,463‌

L2785893.UP.FTS.B,

13.78%,

3/14/27

....

2,200‌

2,197‌

L2779846.UP.FTS.B,

13.81%,

3/14/27

....

3,500‌

3,509‌

L2785148.UP.FTS.B,

13.82%,

3/14/27

....

15,000‌

14,977‌

L2785890.UP.FTS.B,

13.83%,

3/14/27

....

12,900‌

12,880‌

L2782918.UP.FTS.B,

13.85%,

3/14/27

....

4,600‌

4,593‌

L2784569.UP.FTS.B,

13.85%,

3/14/27

....

17,000‌

17,044‌

L2785818.UP.FTS.B,

13.87%,

3/14/27

....

6,900‌

6,918‌

FW2783338.UP.FTS.B,

13.88%,

3/14/27

..

16,000‌

15,976‌

L2780785.UP.FTS.B,

13.88%,

3/14/27

....

15,900‌

15,876‌

L2776854.UP.FTS.B,

13.89%,

3/14/27

....

25,000‌

24,962‌

L2780968.UP.FTS.B,

13.89%,

3/14/27

....

7,500‌

7,519‌

L2787639.UP.FTS.B,

13.93%,

3/14/27

....

6,500‌

6,490‌

FW2781533.UP.FTS.B,

13.96%,

3/14/27

..

25,500‌

25,461‌

L2784724.UP.FTS.B,

14.06%,

3/14/27

....

26,900‌

26,859‌

L2785675.UP.FTS.B,

14.06%,

3/14/27

....

7,000‌

7,018‌

L2780920.UP.FTS.B,

14.07%,

3/14/27

....

6,900‌

6,890‌

FW2783613.UP.FTS.B,

14.08%,

3/14/27

..

30,100‌

30,178‌

L2780420.UP.FTS.B,

14.17%,

3/14/27

....

12,000‌

12,031‌

FW2784641.UP.FTS.B,

14.18%,

3/14/27

..

16,000‌

15,976‌

L2782193.UP.FTS.B,

14.18%,

3/14/27

....

32,300‌

32,384‌

FW2789366.UP.FTS.B,

14.19%,

3/14/27

..

50,000‌

49,925‌

L2779894.UP.FTS.B,

14.2%,

3/14/27

....

10,800‌

10,828‌

L2781015.UP.FTS.B,

14.2%,

3/14/27

....

20,000‌

19,970‌

L2783211.UP.FTS.B,

14.21%,

3/14/27

....

30,000‌

30,078‌

L2787992.UP.FTS.B,

14.22%,

3/14/27

....

6,500‌

6,490‌

L2785053.UP.FTS.B,

14.24%,

3/14/27

....

10,000‌

10,026‌

FW2788869.UP.FTS.B,

14.25%,

3/14/27

..

7,400‌

7,419‌

L2787570.UP.FTS.B,

14.25%,

3/14/27

....

4,000‌

4,010‌

L2757062.UP.FTS.B,

14.27%,

3/14/27

....

6,000‌

6,016‌

FW2789260.UP.FTS.B,

14.31%,

3/14/27

..

21,300‌

21,355‌

L2783095.UP.FTS.B,

14.33%,

3/14/27

....

2,700‌

2,696‌

FW2785433.UP.FTS.B,

14.35%,

3/14/27

..

6,500‌

6,490‌

L2782210.UP.FTS.B,

14.35%,

3/14/27

....

5,000‌

5,013‌

L2788746.UP.FTS.B,

14.35%,

3/14/27

....

10,600‌

10,627‌

L2786259.UP.FTS.B,

14.36%,

3/14/27

....

4,206‌

4,198‌

FW2785109.UP.FTS.B,

14.4%,

3/14/27

...

12,500‌

12,532‌

FW2787191.UP.FTS.B,

14.4%,

3/14/27

...

30,000‌

29,955‌

FW2783492.UP.FTS.B,

14.41%,

3/14/27

..

15,000‌

15,039‌

FW2790249.UP.FTS.B,

14.41%,

3/14/27

..

7,500‌

7,519‌

FW2784749.UP.FTS.B,

14.42%,

3/14/27

..

12,900‌

12,881‌

L2782049.UP.FTS.B,

14.43%,

3/14/27

....

14,100‌

14,137‌

L2783057.UP.FTS.B,

14.44%,

3/14/27

....

27,200‌

27,271‌

L2782438.UP.FTS.B,

14.45%,

3/14/27

....

1,100‌

1,103‌

FW2783150.UP.FTS.B,

14.46%,

3/14/27

..

16,200‌

16,242‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

99

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2780531.UP.FTS.B,

14.47%,

3/14/27

....

$

50,000‌

$

49,926‌

L2784886.UP.FTS.B,

14.47%,

3/14/27

....

11,000‌

11,029‌

L2782739.UP.FTS.B,

14.49%,

3/14/27

....

21,800‌

21,857‌

L2790181.UP.FTS.B,

14.49%,

3/14/27

....

27,600‌

27,559‌

L2779895.UP.FTS.B,

14.52%,

3/14/27

....

14,000‌

14,036‌

L2785771.UP.FTS.B,

14.55%,

3/14/27

....

9,500‌

9,525‌

L2780675.UP.FTS.B,

14.56%,

3/14/27

....

1,100‌

1,098‌

FW2780644.UP.FTS.B,

14.57%,

3/14/27

..

2,500‌

2,496‌

L2780671.UP.FTS.B,

14.57%,

3/14/27

....

24,300‌

24,363‌

L2787542.UP.FTS.B,

14.57%,

3/14/27

....

10,600‌

10,628‌

FW2783925.UP.FTS.B,

14.6%,

3/14/27

...

11,500‌

11,530‌

L2781074.UP.FTS.B,

14.63%,

3/14/27

....

6,000‌

5,991‌

L2785260.UP.FTS.B,

14.63%,

3/14/27

....

26,400‌

26,361‌

L2779917.UP.FTS.B,

14.65%,

3/14/27

....

10,500‌

10,485‌

FW2790537.UP.FTS.B,

14.66%,

3/14/27

..

25,000‌

24,963‌

L2779718.UP.FTS.B,

14.69%,

3/14/27

....

20,000‌

20,052‌

FW2787310.UP.FTS.B,

14.7%,

3/14/27

...

1,000‌

1,003‌

L2783815.UP.FTS.B,

14.7%,

3/14/27

....

16,200‌

16,242‌

L2785114.UP.FTS.B,

14.72%,

3/14/27

....

12,000‌

11,982‌

L2783384.UP.FTS.B,

14.73%,

3/14/27

....

7,000‌

6,990‌

L2785570.UP.FTS.B,

14.73%,

3/14/27

....

40,000‌

39,941‌

FW2785300.UP.FTS.B,

14.74%,

3/14/27

..

50,000‌

49,927‌

L2784692.UP.FTS.B,

14.74%,

3/14/27

....

7,000‌

6,990‌

FW2785680.UP.FTS.B,

14.76%,

3/14/27

..

3,000‌

3,008‌

L2783467.UP.FTS.B,

14.77%,

3/14/27

....

10,700‌

10,728‌

FW2787112.UP.FTS.B,

14.78%,

3/14/27

..

45,000‌

45,117‌

L2781163.UP.FTS.B,

14.78%,

3/14/27

....

8,100‌

8,121‌

L2780444.UP.FTS.B,

14.82%,

3/14/27

....

26,800‌

26,761‌

L2783852.UP.FTS.B,

14.83%,

3/14/27

....

6,000‌

5,991‌

L2785733.UP.FTS.B,

14.86%,

3/14/27

....

4,300‌

4,294‌

L2788260.UP.FTS.B,

14.88%,

3/14/27

....

4,300‌

4,294‌

L2783640.UP.FTS.B,

14.89%,

3/14/27

....

19,200‌

19,250‌

L2788586.UP.FTS.B,

14.9%,

3/14/27

....

2,500‌

2,507‌

L2784500.UP.FTS.B,

14.95%,

3/14/27

....

5,400‌

5,392‌

L2790437.UP.FTS.B,

14.98%,

3/14/27

....

25,000‌

24,964‌

FW2783542.UP.FTS.B,

14.99%,

3/14/27

..

33,000‌

33,086‌

L2786162.UP.FTS.B,

15.01%,

3/14/27

....

30,000‌

30,079‌

L2789724.UP.FTS.B,

15.01%,

3/14/27

....

4,300‌

4,294‌

L2785803.UP.FTS.B,

15.06%,

3/14/27

....

7,000‌

6,990‌

L2786605.UP.FTS.B,

15.07%,

3/14/27

....

20,000‌

19,971‌

L2787981.UP.FTS.B,

15.07%,

3/14/27

....

2,200‌

2,197‌

L2790024.UP.FTS.B,

15.07%,

3/14/27

....

2,000‌

2,005‌

L2788608.UP.FTS.B,

15.09%,

3/14/27

....

5,400‌

5,392‌

FW2781024.UP.FTS.B,

15.1%,

3/14/27

...

5,800‌

5,792‌

L2785270.UP.FTS.B,

15.11%,

3/14/27

....

6,400‌

6,391‌

FW2781451.UP.FTS.B,

15.12%,

3/14/27

..

6,400‌

6,417‌

L2789351.UP.FTS.B,

15.12%,

3/14/27

....

15,000‌

14,978‌

L2787243.UP.FTS.B,

15.13%,

3/14/27

....

42,500‌

42,439‌

FW2779319.UP.FTS.B,

15.17%,

3/14/27

..

1,900‌

1,907‌

FW2783642.UP.FTS.B,

15.18%,

3/14/27

..

3,300‌

3,295‌

L2779837.UP.FTS.B,

15.19%,

3/14/27

....

50,000‌

49,852‌

L2785487.UP.FTS.B,

15.19%,

3/14/27

....

40,000‌

40,105‌

L2781288.UP.FTS.B,

15.2%,

3/14/27

....

3,000‌

3,008‌

L2787335.UP.FTS.B,

15.22%,

3/14/27

....

3,200‌

3,208‌

L2782134.UP.FTS.B,

15.23%,

3/14/27

....

11,800‌

11,845‌

FW2780397.UP.FTS.B,

15.25%,

3/14/27

..

10,524‌

10,508‌

L2782167.UP.FTS.B,

15.28%,

3/14/27

....

32,500‌

32,585‌

L2782707.UP.FTS.B,

15.34%,

3/14/27

....

43,530‌

43,451‌

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L2786073.UP.FTS.B,

15.34%,

3/14/27

....

$

42,500‌

$

42,612‌

L2782112.UP.FTS.B,

15.35%,

3/14/27

....

997‌

996‌

L2785263.UP.FTS.B,

15.35%,

3/14/27

....

9,000‌

8,987‌

FW2788688.UP.FTS.B,

15.38%,

3/14/27

..

10,800‌

10,828‌

L2788995.UP.FTS.B,

15.39%,

3/14/27

....

3,300‌

3,290‌

L2781912.UP.FTS.B,

15.44%,

3/14/27

....

8,500‌

8,522‌

FW2785183.UP.FTS.B,

15.45%,

3/14/27

..

20,000‌

19,972‌

FW2783726.UP.FTS.B,

15.47%,

3/14/27

..

8,600‌

8,575‌

L2782475.UP.FTS.B,

15.49%,

3/14/27

....

10,900‌

10,942‌

L2787379.UP.FTS.B,

15.51%,

3/14/27

....

16,100‌

16,162‌

L2780102.UP.FTS.B,

15.53%,

3/14/27

....

13,800‌

13,836‌

L2752868.UP.FTS.B,

15.54%,

3/14/27

....

22,000‌

22,058‌

L2785752.UP.FTS.B,

15.55%,

3/14/27

....

12,500‌

12,463‌

L2789168.UP.FTS.B,

15.56%,

3/14/27

....

5,000‌

5,019‌

FW2783396.UP.FTS.B,

15.6%,

3/14/27

...

21,500‌

21,470‌

FW2785292.UP.FTS.B,

15.63%,

3/14/27

..

4,100‌

4,088‌

L2785384.UP.FTS.B,

15.63%,

3/14/27

....

22,500‌

22,587‌

FW2781102.UP.FTS.B,

15.67%,

3/14/27

..

26,800‌

26,721‌

L2779187.UP.FTS.B,

15.67%,

3/14/27

....

31,900‌

32,023‌

L2781003.UP.FTS.B,

15.67%,

3/14/27

....

20,868‌

20,833‌

L2785074.UP.FTS.B,

15.67%,

3/14/27

....

21,232‌

21,195‌

FW2780435.UP.FTS.B,

15.71%,

3/14/27

..

5,400‌

5,392‌

L2782787.UP.FTS.B,

15.71%,

3/14/27

....

22,800‌

22,768‌

L2787103.UP.FTS.B,

15.71%,

3/14/27

....

37,400‌

37,347‌

FW2780573.UP.FTS.B,

15.72%,

3/14/27

..

8,300‌

8,322‌

FW2785320.UP.FTS.B,

15.73%,

3/14/27

..

4,000‌

3,994‌

L2788269.UP.FTS.B,

15.76%,

3/14/27

....

5,300‌

5,293‌

L2785537.UP.FTS.B,

15.78%,

3/14/27

....

3,400‌

3,413‌

L2780255.UP.FTS.B,

15.79%,

3/14/27

....

43,200‌

43,314‌

L2781597.UP.FTS.B,

15.79%,

3/14/27

....

26,900‌

26,971‌

L2788017.UP.FTS.B,

15.83%,

3/14/27

....

5,700‌

5,722‌

L2787854.UP.FTS.B,

15.85%,

3/14/27

....

3,300‌

3,290‌

L2786790.UP.FTS.B,

15.86%,

3/14/27

....

5,400‌

5,392‌

L2785504.UP.FTS.B,

15.88%,

3/14/27

....

2,500‌

2,510‌

FW2720638.UP.FTS.B,

15.89%,

3/14/27

..

20,000‌

20,077‌

FW2782452.UP.FTS.B,

15.89%,

3/14/27

..

10,000‌

9,986‌

L2786102.UP.FTS.B,

15.92%,

3/14/27

....

8,000‌

8,021‌

L2779778.UP.FTS.B,

15.94%,

3/14/27

....

17,000‌

17,066‌

L2782963.UP.FTS.B,

15.98%,

3/14/27

....

8,000‌

8,031‌

L2789937.UP.FTS.B,

15.99%,

3/14/27

....

5,400‌

5,393‌

L2790390.UP.FTS.B,

15.99%,

3/14/27

....

4,000‌

3,994‌

L2755556.UP.FTS.B,

16.01%,

3/14/27

....

10,600‌

10,569‌

L2787218.UP.FTS.B,

16.02%,

3/14/27

....

22,600‌

22,569‌

L2780035.UP.FTS.B,

16.03%,

3/14/27

....

5,500‌

5,484‌

FW2789245.UP.FTS.B,

16.05%,

3/14/27

..

8,700‌

8,675‌

L2790175.UP.FTS.B,

16.05%,

3/14/27

....

4,000‌

3,994‌

L2781166.UP.FTS.B,

16.07%,

3/14/27

....

10,700‌

10,669‌

L2782280.UP.FTS.B,

16.08%,

3/14/27

....

13,500‌

13,536‌

FW2789710.UP.FTS.B,

16.11%,

3/14/27

..

4,600‌

4,612‌

FW2781445.UP.FTS.B,

16.12%,

3/14/27

..

11,000‌

10,985‌

L2783674.UP.FTS.B,

16.19%,

3/14/27

....

5,400‌

5,414‌

L2785889.UP.FTS.B,

16.2%,

3/14/27

....

5,500‌

5,484‌

L2779954.UP.FTS.B,

16.22%,

3/14/27

....

10,500‌

10,541‌

L2784950.UP.FTS.B,

16.27%,

3/14/27

....

18,500‌

18,549‌

FW2789690.UP.FTS.B,

16.28%,

3/14/27

..

25,000‌

24,927‌

L2780955.UP.FTS.B,

16.29%,

3/14/27

....

5,400‌

5,414‌

L2779021.UP.FTS.B,

16.32%,

3/14/27

....

7,000‌

6,980‌

L2783945.UP.FTS.B,

16.32%,

3/14/27

....

10,000‌

10,027‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

100

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2784177.UP.FTS.B,

16.34%,

3/14/27

....

$

6,400‌

$

6,381‌

FW2781186.UP.FTS.B,

16.35%,

3/14/27

..

5,000‌

4,986‌

L2781334.UP.FTS.B,

16.44%,

3/14/27

....

10,000‌

9,971‌

FW2783831.UP.FTS.B,

16.46%,

3/14/27

..

5,300‌

5,293‌

L2785542.UP.FTS.B,

16.46%,

3/14/27

....

5,400‌

5,384‌

FW2787232.UP.FTS.B,

16.47%,

3/14/27

..

3,500‌

3,490‌

L2788530.UP.FTS.B,

16.48%,

3/14/27

....

25,000‌

25,097‌

L2781937.UP.FTS.B,

16.51%,

3/14/27

....

12,000‌

12,032‌

L2785787.UP.FTS.B,

16.51%,

3/14/27

....

4,900‌

4,913‌

L2779779.UP.FTS.B,

16.53%,

3/14/27

....

25,000‌

25,097‌

L2781470.UP.FTS.B,

16.53%,

3/14/27

....

11,700‌

11,731‌

FW2790130.UP.FTS.B,

16.54%,

3/14/27

..

12,000‌

11,965‌

L2782699.UP.FTS.B,

16.54%,

3/14/27

....

28,000‌

27,990‌

FW2779874.UP.FTS.B,

16.55%,

3/14/27

..

10,000‌

10,039‌

L2780268.UP.FTS.B,

16.56%,

3/14/27

....

4,300‌

4,311‌

L2788921.UP.FTS.B,

16.56%,

3/14/27

....

8,400‌

8,389‌

L2783496.UP.FTS.B,

16.57%,

3/14/27

....

11,300‌

11,285‌

L2788911.UP.FTS.B,

16.58%,

3/14/27

....

317‌

315‌

L2784909.UP.FTS.B,

16.61%,

3/14/27

....

4,400‌

4,387‌

L2787113.UP.FTS.B,

16.63%,

3/14/27

....

33,600‌

33,555‌

L2781123.UP.FTS.B,

16.65%,

3/14/27

....

10,000‌

9,987‌

FW2786140.UP.FTS.B,

16.66%,

3/14/27

..

3,800‌

3,789‌

FW2788768.UP.FTS.B,

16.66%,

3/14/27

..

20,500‌

20,472‌

L2781826.UP.FTS.B,

16.66%,

3/14/27

....

2,400‌

2,406‌

L2785121.UP.FTS.B,

16.67%,

3/14/27

....

27,000‌

26,922‌

L2783524.UP.FTS.B,

16.68%,

3/14/27

....

10,700‌

10,742‌

L2786003.UP.FTS.B,

16.71%,

3/14/27

....

3,300‌

3,291‌

L2782816.UP.FTS.B,

16.73%,

3/14/27

....

6,500‌

6,481‌

FW2785133.UP.FTS.B,

16.75%,

3/14/27

..

20,500‌

20,472‌

L2786728.UP.FTS.B,

16.78%,

3/14/27

....

10,000‌

9,971‌

FW2782269.UP.FTS.B,

16.79%,

3/14/27

..

4,300‌

4,312‌

L2783630.UP.FTS.B,

16.79%,

3/14/27

....

27,500‌

27,607‌

L2790588.UP.FTS.B,

16.81%,

3/14/27

....

4,000‌

3,995‌

FW2780507.UP.FTS.B,

16.82%,

3/14/27

..

16,000‌

16,043‌

FW2790218.UP.FTS.B,

16.82%,

3/14/27

..

3,500‌

3,495‌

FW2783290.UP.FTS.B,

16.83%,

3/14/27

..

7,600‌

7,620‌

FW2787453.UP.FTS.B,

16.84%,

3/14/27

..

6,400‌

6,417‌

L2781471.UP.FTS.B,

16.84%,

3/14/27

....

1,100‌

1,103‌

L2790374.UP.FTS.B,

16.87%,

3/14/27

....

7,900‌

7,931‌

FW2783637.UP.FTS.B,

16.93%,

3/14/27

..

8,000‌

7,977‌

L2782584.UP.FTS.B,

16.94%,

3/14/27

....

17,000‌

16,951‌

L2780924.UP.FTS.B,

16.96%,

3/14/27

....

7,000‌

7,027‌

L2783856.UP.FTS.B,

16.96%,

3/14/27

....

3,900‌

3,915‌

L2743727.UP.FTS.B,

16.97%,

3/14/27

....

5,000‌

5,020‌

L2783224.UP.FTS.B,

16.97%,

3/14/27

....

4,400‌

4,417‌

L2781842.UP.FTS.B,

17.01%,

3/14/27

....

7,500‌

7,529‌

FW2779871.UP.FTS.B,

17.03%,

3/14/27

..

16,000‌

15,954‌

FW2781271.UP.FTS.B,

17.06%,

3/14/27

..

7,600‌

7,630‌

L2787213.UP.FTS.B,

17.06%,

3/14/27

....

45,900‌

45,839‌

L2782031.UP.FTS.B,

17.07%,

3/14/27

....

15,000‌

14,957‌

L2780352.UP.FTS.B,

17.09%,

3/14/27

....

10,000‌

9,971‌

L2780173.UP.FTS.B,

17.14%,

3/14/27

....

3,300‌

3,291‌

FW2784298.UP.FTS.B,

17.15%,

3/14/27

..

25,000‌

25,116‌

L2789704.UP.FTS.B,

17.16%,

3/14/27

....

25,000‌

25,098‌

FW2780002.UP.FTS.B,

17.17%,

3/14/27

..

3,000‌

3,012‌

L2788261.UP.FTS.B,

17.17%,

3/14/27

....

1,300‌

1,298‌

L2780146.UP.FTS.B,

17.18%,

3/14/27

....

3,700‌

3,689‌

FW2779719.UP.FTS.B,

17.2%,

3/14/27

...

6,500‌

6,525‌

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L2786112.UP.FTS.B,

17.23%,

3/14/27

....

$

2,800‌

$

2,811‌

L2785657.UP.FTS.B,

17.24%,

3/14/27

....

4,400‌

4,417‌

FW2785239.UP.FTS.B,

17.27%,

3/14/27

..

3,000‌

2,991‌

FW2782814.UP.FTS.B,

17.3%,

3/14/27

...

6,400‌

6,382‌

L2785928.UP.FTS.B,

17.3%,

3/14/27

....

50,000‌

50,196‌

FW2780342.UP.FTS.B,

17.34%,

3/14/27

..

10,900‌

10,869‌

L2781008.UP.FTS.B,

17.34%,

3/14/27

....

7,400‌

7,420‌

L2783179.UP.FTS.B,

17.39%,

3/14/27

....

9,000‌

9,042‌

L2783901.UP.FTS.B,

17.4%,

3/14/27

....

15,800‌

15,741‌

FW2779789.UP.FTS.B,

17.41%,

3/14/27

..

5,000‌

4,986‌

L2780286.UP.FTS.B,

17.43%,

3/14/27

....

19,000‌

19,075‌

L2785227.UP.FTS.B,

17.43%,

3/14/27

....

29,100‌

29,214‌

L2785862.UP.FTS.B,

17.44%,

3/14/27

....

40,000‌

39,948‌

L2790752.UP.FTS.B,

17.44%,

3/14/27

....

4,400‌

4,388‌

FW2781874.UP.FTS.B,

17.45%,

3/14/27

..

1,000‌

1,004‌

L2780752.UP.FTS.B,

17.46%,

3/14/27

....

35,000‌

34,901‌

L2786485.UP.FTS.B,

17.46%,

3/14/27

....

15,900‌

15,855‌

FW2779934.UP.FTS.B,

17.49%,

3/14/27

..

10,000‌

9,972‌

FW2780478.UP.FTS.B,

17.53%,

3/14/27

..

1,000‌

997‌

L2786475.UP.FTS.B,

17.53%,

3/14/27

....

1,600‌

1,606‌

L2785327.UP.FTS.B,

17.54%,

3/14/27

....

6,500‌

6,482‌

L2780295.UP.FTS.B,

17.55%,

3/14/27

....

5,400‌

5,421‌

L2789286.UP.FTS.B,

17.58%,

3/14/27

....

9,000‌

8,975‌

FW2780850.UP.FTS.B,

17.6%,

3/14/27

...

15,000‌

15,059‌

FW2783200.UP.FTS.B,

17.6%,

3/14/27

...

14,100‌

14,060‌

FW2785880.UP.FTS.B,

17.62%,

3/14/27

..

9,000‌

8,975‌

L2785321.UP.FTS.B,

17.62%,

3/14/27

....

7,000‌

7,028‌

FW2789628.UP.FTS.B,

17.63%,

3/14/27

..

48,600‌

48,463‌

L2784632.UP.FTS.B,

17.63%,

3/14/27

....

7,500‌

7,520‌

L2783865.UP.FTS.B,

17.67%,

3/14/27

....

5,500‌

5,480‌

FW2785197.UP.FTS.B,

17.69%,

3/14/27

..

10,900‌

10,951‌

L2784502.UP.FTS.B,

17.69%,

3/14/27

....

30,000‌

30,118‌

L2780580.UP.FTS.B,

17.7%,

3/14/27

....

3,500‌

3,490‌

L2782772.UP.FTS.B,

17.7%,

3/14/27

....

14,700‌

14,645‌

L2785162.UP.FTS.B,

17.72%,

3/14/27

....

20,000‌

19,926‌

FW2785310.UP.FTS.B,

17.73%,

3/14/27

..

9,000‌

9,035‌

L2789365.UP.FTS.B,

17.74%,

3/14/27

....

40,000‌

39,887‌

L2789037.UP.FTS.B,

17.75%,

3/14/27

....

18,700‌

18,647‌

L2780144.UP.FTS.B,

17.8%,

3/14/27

....

17,000‌

16,952‌

L2782152.UP.FTS.B,

17.81%,

3/14/27

....

2,600‌

2,593‌

FW2784943.UP.FTS.B,

17.86%,

3/14/27

..

10,900‌

10,860‌

L2786127.UP.FTS.B,

17.86%,

3/14/27

....

4,500‌

4,487‌

FW2783998.UP.FTS.B,

17.89%,

3/14/27

..

2,000‌

1,994‌

FW2784396.UP.FTS.B,

17.89%,

3/14/27

..

3,900‌

3,918‌

L2768222.UP.FTS.B,

17.92%,

3/14/27

....

24,100‌

24,195‌

FW2779862.UP.FTS.B,

17.93%,

3/14/27

..

1,000‌

997‌

L2785495.UP.FTS.B,

17.96%,

3/14/27

....

3,700‌

3,715‌

L2785895.UP.FTS.B,

17.97%,

3/14/27

....

22,000‌

22,103‌

L2783820.UP.FTS.B,

17.99%,

3/14/27

....

38,087‌

37,972‌

L2784843.UP.FTS.B,

18.02%,

3/14/27

....

12,000‌

12,033‌

FW2781007.UP.FTS.B,

18.03%,

3/14/27

..

10,000‌

10,039‌

FW2780686.UP.FTS.B,

18.04%,

3/14/27

..

1,100‌

1,099‌

L2780829.UP.FTS.B,

18.05%,

3/14/27

....

9,600‌

9,573‌

FW2781770.UP.FTS.B,

18.09%,

3/14/27

..

3,300‌

3,296‌

L2785717.UP.FTS.B,

18.12%,

3/14/27

....

16,000‌

16,075‌

FW2786571.UP.FTS.B,

18.14%,

3/14/27

..

21,500‌

21,585‌

FW2771881.UP.FTS.B,

18.18%,

3/14/27

..

5,000‌

4,982‌

FW2780394.UP.FTS.B,

18.18%,

3/14/27

..

9,500‌

9,465‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

101

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

FW2784120.UP.FTS.B,

18.18%,

3/14/27

..

$

3,500‌

$

3,514‌

L2781185.UP.FTS.B,

18.2%,

3/14/27

.....

3,900‌

3,886‌

L2762731.UP.FTS.B,

18.21%,

3/14/27

....

6,500‌

6,518‌

L2785773.UP.FTS.B,

18.25%,

3/14/27

....

13,500‌

13,462‌

FW2779997.UP.FTS.B,

18.26%,

3/14/27

..

2,191‌

2,188‌

L2786738.UP.FTS.B,

18.29%,

3/14/27

....

2,200‌

2,210‌

L2784355.UP.FTS.B,

18.3%,

3/14/27

....

3,100‌

3,112‌

L2781131.UP.FTS.B,

18.34%,

3/14/27

....

10,500‌

10,487‌

L2783242.UP.FTS.B,

18.38%,

3/14/27

....

6,500‌

6,518‌

L2781333.UP.FTS.B,

18.4%,

3/14/27

....

17,300‌

17,236‌

L2782423.UP.FTS.B,

18.4%,

3/14/27

....

13,100‌

13,152‌

L2789502.UP.FTS.B,

18.42%,

3/14/27

....

40,000‌

40,109‌

L2781963.UP.FTS.B,

18.43%,

3/14/27

....

10,900‌

10,951‌

L2789078.UP.FTS.B,

18.45%,

3/14/27

....

3,900‌

3,886‌

FW2786891.UP.FTS.B,

18.46%,

3/14/27

..

16,200‌

16,276‌

FW2783747.UP.FTS.B,

18.48%,

3/14/27

..

5,000‌

5,023‌

FW2788462.UP.FTS.B,

18.48%,

3/14/27

..

10,000‌

9,963‌

FW2780658.UP.FTS.B,

18.49%,

3/14/27

..

15,540‌

15,490‌

L2761321.UP.FTS.B,

18.5%,

3/14/27

....

2,800‌

2,813‌

L2779732.UP.FTS.B,

18.53%,

3/14/27

....

10,300‌

10,262‌

FW2788100.UP.FTS.B,

18.55%,

3/14/27

..

22,600‌

22,538‌

L2788795.UP.FTS.B,

18.58%,

3/14/27

....

10,000‌

10,054‌

L2785399.UP.FTS.B,

18.59%,

3/14/27

....

17,400‌

17,482‌

L2789629.UP.FTS.B,

18.6%,

3/14/27

....

5,500‌

5,480‌

FW2780445.UP.FTS.B,

18.66%,

3/14/27

..

17,500‌

17,436‌

L2780206.UP.FTS.B,

18.66%,

3/14/27

....

10,000‌

10,047‌

L2789624.UP.FTS.B,

18.67%,

3/14/27

....

16,000‌

16,063‌

FW2780229.UP.FTS.B,

18.68%,

3/14/27

..

2,500‌

2,512‌

L2782895.UP.FTS.B,

18.68%,

3/14/27

....

10,900‌

10,870‌

L2781142.UP.FTS.B,

18.71%,

3/14/27

....

5,900‌

5,923‌

FW2782751.UP.FTS.B,

18.72%,

3/14/27

..

10,000‌

10,047‌

FW2786391.UP.FTS.B,

18.72%,

3/14/27

..

8,000‌

7,978‌

L2783944.UP.FTS.B,

18.73%,

3/14/27

....

9,800‌

9,846‌

FW2779991.UP.FTS.B,

18.74%,

3/14/27

..

11,600‌

11,632‌

FW2784433.UP.FTS.B,

18.76%,

3/14/27

..

7,000‌

7,028‌

L2783654.UP.FTS.B,

18.81%,

3/14/27

....

12,900‌

12,961‌

L2784627.UP.FTS.B,

18.83%,

3/14/27

....

10,700‌

10,743‌

L2779919.UP.FTS.B,

18.85%,

3/14/27

....

50,000‌

50,137‌

L2782107.UP.FTS.B,

18.88%,

3/14/27

....

11,000‌

11,052‌

L2781571.UP.FTS.B,

18.92%,

3/14/27

....

10,900‌

10,860‌

L2782929.UP.FTS.B,

18.95%,

3/14/27

....

2,600‌

2,593‌

FW2787024.UP.FTS.B,

19%,

3/14/27

....

50,000‌

49,818‌

L2783159.UP.FTS.B,

19.01%,

3/14/27

....

4,000‌

4,016‌

FW2782318.UP.FTS.B,

19.02%,

3/14/27

..

12,000‌

11,956‌

FW2790605.UP.FTS.B,

19.02%,

3/14/27

..

31,900‌

31,988‌

L2781200.UP.FTS.B,

19.02%,

3/14/27

....

10,000‌

10,047‌

FW2784575.UP.FTS.B,

19.03%,

3/14/27

..

15,000‌

15,071‌

L2784145.UP.FTS.B,

19.03%,

3/14/27

....

5,500‌

5,480‌

L2779673.UP.FTS.B,

19.08%,

3/14/27

....

6,500‌

6,476‌

L2789238.UP.FTS.B,

19.09%,

3/14/27

....

9,000‌

8,967‌

L2785730.UP.FTS.B,

19.13%,

3/14/27

....

25,000‌

24,970‌

FW2754559.UP.FTS.B,

19.14%,

3/14/27

..

25,000‌

25,100‌

FW2787713.UP.FTS.B,

19.15%,

3/14/27

..

9,300‌

9,337‌

FW2780787.UP.FTS.B,

19.16%,

3/14/27

..

14,000‌

14,066‌

FW2785207.UP.FTS.B,

19.16%,

3/14/27

..

24,900‌

25,017‌

FW2785562.UP.FTS.B,

19.19%,

3/14/27

..

21,300‌

21,275‌

L2781882.UP.FTS.B,

19.22%,

3/14/27

....

9,600‌

9,638‌

L2783530.UP.FTS.B,

19.22%,

3/14/27

....

5,000‌

5,024‌

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L2787505.UP.FTS.B,

19.22%,

3/14/27

....

$

2,800‌

$

2,813‌

FW2779984.UP.FTS.B,

19.29%,

3/14/27

..

8,100‌

8,138‌

L2780224.UP.FTS.B,

19.3%,

3/14/27

....

16,700‌

16,767‌

L2780510.UP.FTS.B,

19.3%,

3/14/27

....

24,600‌

24,698‌

L2779286.UP.FTS.B,

19.31%,

3/14/27

....

6,000‌

6,028‌

L2780702.UP.FTS.B,

19.32%,

3/14/27

....

21,800‌

21,721‌

FW2785535.UP.FTS.B,

19.34%,

3/14/27

..

25,000‌

25,100‌

L2785478.UP.FTS.B,

19.34%,

3/14/27

....

50,000‌

50,236‌

FW2784356.UP.FTS.B,

19.36%,

3/14/27

..

12,400‌

12,434‌

L2772898.UP.FTS.B,

19.36%,

3/14/27

....

40,000‌

40,219‌

L2788944.UP.FTS.B,

19.36%,

3/14/27

....

50,000‌

49,864‌

L2781072.UP.FTS.B,

19.38%,

3/14/27

....

4,400‌

4,388‌

L2786225.UP.FTS.B,

19.38%,

3/14/27

....

13,700‌

13,650‌

L2787510.UP.FTS.B,

19.38%,

3/14/27

....

21,700‌

21,621‌

L2780753.UP.FTS.B,

19.39%,

3/14/27

....

23,000‌

22,917‌

L2784108.UP.FTS.B,

19.4%,

3/14/27

....

21,400‌

21,485‌

FW2779751.UP.FTS.B,

19.43%,

3/14/27

..

4,000‌

3,986‌

L2783953.UP.FTS.B,

19.43%,

3/14/27

....

2,500‌

2,493‌

L2785370.UP.FTS.B,

19.45%,

3/14/27

....

21,800‌

21,721‌

FW2785518.UP.FTS.B,

19.46%,

3/14/27

..

16,400‌

16,341‌

L2780125.UP.FTS.B,

19.47%,

3/14/27

....

22,000‌

21,940‌

L2790127.UP.FTS.B,

19.48%,

3/14/27

....

10,700‌

10,671‌

L2784624.UP.FTS.B,

19.51%,

3/14/27

....

10,900‌

10,952‌

L2781083.UP.FTS.B,

19.56%,

3/14/27

....

3,921‌

3,909‌

FW2785941.UP.FTS.B,

19.58%,

3/14/27

..

18,000‌

17,951‌

L2780974.UP.FTS.B,

19.58%,

3/14/27

....

8,100‌

8,132‌

L2784181.UP.FTS.B,

19.58%,

3/14/27

....

25,000‌

24,910‌

L2782824.UP.FTS.B,

19.61%,

3/14/27

....

10,900‌

10,952‌

L2780683.UP.FTS.B,

19.62%,

3/14/27

....

8,600‌

8,634‌

L2780902.UP.FTS.B,

19.63%,

3/14/27

....

7,100‌

7,074‌

L2785354.UP.FTS.B,

19.65%,

3/14/27

....

4,100‌

4,089‌

FW2780425.UP.FTS.B,

19.66%,

3/14/27

..

15,000‌

14,960‌

FW2783399.UP.FTS.B,

19.68%,

3/14/27

..

5,500‌

5,526‌

L2780913.UP.FTS.B,

19.68%,

3/14/27

....

6,400‌

6,426‌

FW2782056.UP.FTS.B,

19.7%,

3/14/27

...

7,948‌

7,924‌

L2787013.UP.FTS.B,

19.7%,

3/14/27

....

8,600‌

8,569‌

L2789596.UP.FTS.B,

19.71%,

3/14/27

....

5,600‌

5,585‌

L2790185.UP.FTS.B,

19.71%,

3/14/27

....

12,100‌

12,148‌

L2782557.UP.FTS.B,

19.73%,

3/14/27

....

10,900‌

10,944‌

L2789528.UP.FTS.B,

19.75%,

3/14/27

....

5,500‌

5,526‌

L2776323.UP.FTS.B,

19.76%,

3/14/27

....

16,100‌

16,042‌

FW2779945.UP.FTS.B,

19.77%,

3/14/27

..

5,500‌

5,480‌

L2781903.UP.FTS.B,

19.77%,

3/14/27

....

15,000‌

15,042‌

L2789061.UP.FTS.B,

19.78%,

3/14/27

....

1,600‌

1,594‌

FW2786060.UP.FTS.B,

19.8%,

3/14/27

...

4,000‌

4,016‌

L2783367.UP.FTS.B,

19.81%,

3/14/27

....

21,800‌

21,887‌

L2784343.UP.FTS.B,

19.81%,

3/14/27

....

5,000‌

5,024‌

L2785329.UP.FTS.B,

19.82%,

3/14/27

....

7,700‌

7,736‌

L2780611.UP.FTS.B,

19.83%,

3/14/27

....

8,700‌

8,741‌

L2782244.UP.FTS.B,

19.84%,

3/14/27

....

5,500‌

5,485‌

L2785103.UP.FTS.B,

19.85%,

3/14/27

....

4,400‌

4,388‌

L2780515.UP.FTS.B,

19.86%,

3/14/27

....

6,500‌

6,526‌

L2782116.UP.FTS.B,

19.9%,

3/14/27

.....

17,200‌

17,138‌

FW2784189.UP.FTS.B,

19.91%,

3/14/27

..

10,800‌

10,830‌

L2771055.UP.FTS.B,

19.91%,

3/14/27

....

7,000‌

6,968‌

L2781737.UP.FTS.B,

19.91%,

3/14/27

....

5,000‌

4,987‌

L2782045.UP.FTS.B,

19.92%,

3/14/27

....

15,503‌

15,456‌

FW2781890.UP.FTS.B,

19.93%,

3/14/27

..

10,800‌

10,761‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

102

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2782730.UP.FTS.B,

19.94%,

3/14/27

....

$

10,000‌

$

10,047‌

L2784726.UP.FTS.B,

19.97%,

3/14/27

....

16,400‌

16,490‌

L2785429.UP.FTS.B,

20%,

3/14/27

......

4,400‌

4,421‌

L2784927.UP.FTS.B,

20.04%,

3/14/27

....

16,300‌

16,242‌

FW2785877.UP.FTS.B,

20.08%,

3/14/27

..

5,300‌

5,321‌

FW2787084.UP.FTS.B,

20.12%,

3/14/27

..

6,500‌

6,477‌

L2788756.UP.FTS.B,

20.13%,

3/14/27

....

16,400‌

16,490‌

L2783601.UP.FTS.B,

20.15%,

3/14/27

....

8,000‌

8,044‌

L2780471.UP.FTS.B,

20.16%,

3/14/27

....

6,000‌

6,028‌

L2783587.UP.FTS.B,

20.2%,

3/14/27

....

32,700‌

32,583‌

L2785428.UP.FTS.B,

20.21%,

3/14/27

....

4,000‌

4,016‌

L2779074.UP.FTS.B,

20.27%,

3/14/27

....

5,707‌

5,680‌

L2782817.UP.FTS.B,

20.32%,

3/14/27

....

21,800‌

21,701‌

L2782852.UP.FTS.B,

20.32%,

3/14/27

....

1,100‌

1,095‌

L2780204.UP.FTS.B,

20.34%,

3/14/27

....

10,000‌

9,964‌

L2789071.UP.FTS.B,

20.34%,

3/14/27

....

15,000‌

15,071‌

L2785975.UP.FTS.B,

20.35%,

3/14/27

....

10,900‌

10,952‌

FW2780713.UP.FTS.B,

20.36%,

3/14/27

..

17,400‌

17,338‌

L2790430.UP.FTS.B,

20.37%,

3/14/27

....

20,000‌

19,947‌

L2783368.UP.FTS.B,

20.38%,

3/14/27

....

8,000‌

7,964‌

L2786836.UP.FTS.B,

20.39%,

3/14/27

....

6,700‌

6,682‌

L2788404.UP.FTS.B,

20.4%,

3/14/27

....

50,000‌

50,238‌

L2781217.UP.FTS.B,

20.42%,

3/14/27

....

13,100‌

13,041‌

L2782188.UP.FTS.B,

20.46%,

3/14/27

....

15,000‌

14,932‌

L2789118.UP.FTS.B,

20.49%,

3/14/27

....

14,716‌

14,673‌

L2783485.UP.FTS.B,

20.5%,

3/14/27

....

15,000‌

15,060‌

FW2783065.UP.FTS.B,

20.52%,

3/14/27

..

4,400‌

4,424‌

L2779878.UP.FTS.B,

20.54%,

3/14/27

....

14,000‌

14,039‌

L2788741.UP.FTS.B,

20.54%,

3/14/27

....

5,600‌

5,580‌

FW2784389.UP.FTS.B,

20.56%,

3/14/27

..

3,300‌

3,318‌

FW2788480.UP.FTS.B,

20.56%,

3/14/27

..

6,400‌

6,435‌

L2781714.UP.FTS.B,

20.56%,

3/14/27

....

24,800‌

24,918‌

L2782942.UP.FTS.B,

20.56%,

3/14/27

....

10,600‌

10,562‌

FW2789665.UP.FTS.B,

20.58%,

3/14/27

..

4,400‌

4,380‌

L2785210.UP.FTS.B,

20.6%,

3/14/27

....

7,149‌

7,128‌

L2784645.UP.FTS.B,

20.66%,

3/14/27

....

2,145‌

2,136‌

FW2785996.UP.FTS.B,

20.67%,

3/14/27

..

5,400‌

5,381‌

FW2782809.UP.FTS.B,

20.69%,

3/14/27

..

5,500‌

5,526‌

FW2782886.UP.FTS.B,

20.69%,

3/14/27

..

29,500‌

29,395‌

L2781794.UP.FTS.B,

20.69%,

3/14/27

....

14,200‌

14,268‌

FW2786190.UP.FTS.B,

20.74%,

3/14/27

..

5,400‌

5,386‌

FW2781564.UP.FTS.B,

20.75%,

3/14/27

..

3,300‌

3,316‌

FW2785244.UP.FTS.B,

20.75%,

3/14/27

..

7,600‌

7,636‌

L2785821.UP.FTS.B,

20.75%,

3/14/27

....

4,400‌

4,421‌

FW2785451.UP.FTS.B,

20.8%,

3/14/27

...

27,100‌

27,229‌

FW2787933.UP.FTS.B,

20.81%,

3/14/27

..

20,000‌

19,929‌

FW2780653.UP.FTS.B,

20.84%,

3/14/27

..

11,000‌

10,961‌

L2786023.UP.FTS.B,

20.84%,

3/14/27

....

7,000‌

7,039‌

FW2786123.UP.FTS.B,

20.87%,

3/14/27

..

3,000‌

3,017‌

L2783973.UP.FTS.B,

20.89%,

3/14/27

....

10,900‌

10,944‌

L2786517.UP.FTS.B,

20.9%,

3/14/27

....

17,000‌

16,940‌

L2783671.UP.FTS.B,

20.91%,

3/14/27

....

10,700‌

10,672‌

L2785557.UP.FTS.B,

20.92%,

3/14/27

....

1,100‌

1,096‌

L2790205.UP.FTS.B,

20.92%,

3/14/27

....

1,700‌

1,708‌

FW2780991.UP.FTS.B,

20.95%,

3/14/27

..

8,700‌

8,742‌

L2784917.UP.FTS.B,

20.96%,

3/14/27

....

35,000‌

35,167‌

FW2789132.UP.FTS.B,

21%,

3/14/27

....

8,600‌

8,570‌

L2780447.UP.FTS.B,

21.03%,

3/14/27

....

3,800‌

3,790‌

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW2783376.UP.FTS.B,

21.04%,

3/14/27

..

$

4,400‌

$

4,421‌

L2784285.UP.FTS.B,

21.04%,

3/14/27

....

3,000‌

2,987‌

L2785009.UP.FTS.B,

21.06%,

3/14/27

....

17,300‌

17,239‌

FW2783063.UP.FTS.B,

21.08%,

3/14/27

..

10,000‌

10,048‌

L2785764.UP.FTS.B,

21.12%,

3/14/27

....

8,400‌

8,378‌

L2762778.UP.FTS.B,

21.15%,

3/14/27

....

6,000‌

5,979‌

L2779534.UP.FTS.B,

21.16%,

3/14/27

....

10,000‌

10,028‌

L2783728.UP.FTS.B,

21.18%,

3/14/27

....

3,300‌

3,316‌

L2778435.UP.FTS.B,

21.2%,

3/14/27

....

2,200‌

2,211‌

FW2784043.UP.FTS.B,

21.22%,

3/14/27

..

3,300‌

3,285‌

FW2783359.UP.FTS.B,

21.23%,

3/14/27

..

17,000‌

17,081‌

L2780075.UP.FTS.B,

21.23%,

3/14/27

....

23,300‌

23,396‌

FW2781956.UP.FTS.B,

21.26%,

3/14/27

..

5,000‌

4,982‌

FW2779425.UP.FTS.B,

21.27%,

3/14/27

..

10,900‌

10,952‌

FW2780777.UP.FTS.B,

21.29%,

3/14/27

..

3,300‌

3,316‌

L2780757.UP.FTS.B,

21.34%,

3/14/27

....

1,700‌

1,709‌

FW2788633.UP.FTS.B,

21.36%,

3/14/27

..

3,800‌

3,818‌

L2785878.UP.FTS.B,

21.36%,

3/14/27

....

1,500‌

1,508‌

FW2781849.UP.FTS.B,

21.39%,

3/14/27

..

10,000‌

10,048‌

FW2781871.UP.FTS.B,

21.39%,

3/14/27

..

10,800‌

10,852‌

FW2783027.UP.FTS.B,

21.39%,

3/14/27

..

21,700‌

21,603‌

L2783471.UP.FTS.B,

21.41%,

3/14/27

....

10,000‌

9,965‌

FW2789740.UP.FTS.B,

21.46%,

3/14/27

..

15,000‌

15,061‌

L2787046.UP.FTS.B,

21.46%,

3/14/27

....

2,200‌

2,192‌

L2784388.UP.FTS.B,

21.47%,

3/14/27

....

5,000‌

5,024‌

L2784444.UP.FTS.B,

21.47%,

3/14/27

....

4,400‌

4,421‌

L2785139.UP.FTS.B,

21.47%,

3/14/27

....

9,800‌

9,854‌

L2789869.UP.FTS.B,

21.53%,

3/14/27

....

7,700‌

7,743‌

FW2789765.UP.FTS.B,

21.55%,

3/14/27

..

20,000‌

20,111‌

L2779350.UP.FTS.B,

21.55%,

3/14/27

....

6,500‌

6,531‌

L2789337.UP.FTS.B,

21.56%,

3/14/27

....

40,800‌

40,695‌

FW2786256.UP.FTS.B,

21.58%,

3/14/27

..

8,500‌

8,535‌

L2782008.UP.FTS.B,

21.58%,

3/14/27

....

1,700‌

1,692‌

L2773530.UP.FTS.B,

21.6%,

3/14/27

....

9,000‌

8,969‌

L2786557.UP.FTS.B,

21.6%,

3/14/27

....

14,100‌

14,168‌

L2780344.UP.FTS.B,

21.61%,

3/14/27

....

3,231‌

3,214‌

L2790163.UP.FTS.B,

21.62%,

3/14/27

....

3,300‌

3,316‌

L2785432.UP.FTS.B,

21.63%,

3/14/27

....

8,000‌

8,023‌

L2758459.UP.FTS.B,

21.67%,

3/14/27

....

9,500‌

9,546‌

L2784140.UP.FTS.B,

21.67%,

3/14/27

....

12,000‌

11,946‌

L2785864.UP.FTS.B,

21.67%,

3/14/27

....

4,400‌

4,380‌

L2782992.UP.FTS.B,

21.68%,

3/14/27

....

20,000‌

20,096‌

FW2786747.UP.FTS.B,

21.7%,

3/14/27

...

4,300‌

4,317‌

FW2785547.UP.FTS.B,

21.71%,

3/14/27

..

7,800‌

7,822‌

FW2783166.UP.FTS.B,

21.74%,

3/14/27

..

1,100‌

1,095‌

L2788222.UP.FTS.B,

21.74%,

3/14/27

....

12,000‌

11,947‌

FW2780669.UP.FTS.B,

21.77%,

3/14/27

..

3,400‌

3,385‌

L2784304.UP.FTS.B,

21.78%,

3/14/27

....

3,000‌

3,017‌

L2790540.UP.FTS.B,

21.79%,

3/14/27

....

12,000‌

12,067‌

FW2784824.UP.FTS.B,

21.8%,

3/14/27

...

2,800‌

2,816‌

L2785736.UP.FTS.B,

21.81%,

3/14/27

....

13,400‌

13,474‌

L2782941.UP.FTS.B,

21.84%,

3/14/27

....

3,000‌

3,017‌

L2785656.UP.FTS.B,

21.86%,

3/14/27

....

9,800‌

9,756‌

FW2789308.UP.FTS.B,

21.87%,

3/14/27

..

4,800‌

4,823‌

L2784758.UP.FTS.B,

21.87%,

3/14/27

....

1,100‌

1,096‌

FW2785231.UP.FTS.B,

21.88%,

3/14/27

..

9,000‌

8,960‌

FW2784365.UP.FTS.B,

21.9%,

3/14/27

...

1,100‌

1,095‌

L2781510.UP.FTS.B,

21.9%,

3/14/27

....

5,000‌

4,983‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

103

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

FW2782801.UP.FTS.B,

21.92%,

3/14/27

..

$

5,400‌

$

5,376‌

L2782578.UP.FTS.B,

21.93%,

3/14/27

....

10,000‌

9,965‌

L2787728.UP.FTS.B,

21.93%,

3/14/27

....

21,800‌

21,703‌

L2786180.UP.FTS.B,

21.96%,

3/14/27

....

12,500‌

12,560‌

FW2780135.UP.FTS.B,

21.97%,

3/14/27

..

10,900‌

10,961‌

FW2789174.UP.FTS.B,

21.99%,

3/14/27

..

10,000‌

10,048‌

FW2785285.UP.FTS.B,

22%,

3/14/27

....

10,000‌

9,974‌

L2784561.UP.FTS.B,

22.05%,

3/14/27

....

9,553‌

9,500‌

L2785737.UP.FTS.B,

22.05%,

3/14/27

....

13,000‌

13,072‌

FW2784161.UP.FTS.B,

22.07%,

3/14/27

..

5,900‌

5,885‌

FW2782553.UP.FTS.B,

22.13%,

3/14/27

..

10,000‌

10,048‌

FW2785552.UP.FTS.B,

22.13%,

3/14/27

..

9,200‌

9,168‌

L2782667.UP.FTS.B,

22.16%,

3/14/27

....

5,400‌

5,430‌

FW2781801.UP.FTS.B,

22.17%,

3/14/27

..

5,400‌

5,381‌

L2785673.UP.FTS.B,

22.18%,

3/14/27

....

3,000‌

3,017‌

L2780945.UP.FTS.B,

22.19%,

3/14/27

....

3,800‌

3,821‌

L2783252.UP.FTS.B,

22.19%,

3/14/27

....

4,400‌

4,380‌

L2782604.UP.FTS.B,

22.2%,

3/14/27

....

6,500‌

6,531‌

L2785618.UP.FTS.B,

22.23%,

3/14/27

....

22,800‌

22,699‌

L2779978.UP.FTS.B,

22.26%,

3/14/27

....

5,000‌

4,983‌

L2783657.UP.FTS.B,

22.26%,

3/14/27

....

10,900‌

10,862‌

L2786434.UP.FTS.B,

22.26%,

3/14/27

....

32,100‌

31,989‌

L2785258.UP.FTS.B,

22.27%,

3/14/27

....

28,100‌

27,976‌

L2780882.UP.FTS.B,

22.29%,

3/14/27

....

9,200‌

9,251‌

L2785489.UP.FTS.B,

22.3%,

3/14/27

....

6,500‌

6,536‌

L2784609.UP.FTS.B,

22.31%,

3/14/27

....

6,400‌

6,426‌

L2780535.UP.FTS.B,

22.33%,

3/14/27

....

1,020‌

1,015‌

L2780097.UP.FTS.B,

22.4%,

3/14/27

....

5,800‌

5,832‌

L2781968.UP.FTS.B,

22.4%,

3/14/27

....

10,000‌

9,956‌

L2780470.UP.FTS.B,

22.46%,

3/14/27

....

5,000‌

5,028‌

L2784446.UP.FTS.B,

22.46%,

3/14/27

....

4,400‌

4,389‌

L2780797.UP.FTS.B,

22.54%,

3/14/27

....

6,000‌

5,974‌

L2786010.UP.FTS.B,

22.55%,

3/14/27

....

22,000‌

22,063‌

FW2790759.UP.FTS.B,

22.58%,

3/14/27

..

9,700‌

9,754‌

L2787644.UP.FTS.B,

22.58%,

3/14/27

....

22,000‌

22,090‌

L2783196.UP.FTS.B,

22.61%,

3/14/27

....

50,000‌

50,279‌

FW2784227.UP.FTS.B,

22.62%,

3/14/27

..

3,800‌

3,821‌

FW2781920.UP.FTS.B,

22.63%,

3/14/27

..

4,300‌

4,324‌

L2784421.UP.FTS.B,

22.65%,

3/14/27

....

23,000‌

23,111‌

FW2786125.UP.FTS.B,

22.66%,

3/14/27

..

21,600‌

21,505‌

FW2784685.UP.FTS.B,

22.67%,

3/14/27

..

2,800‌

2,816‌

FW2784073.UP.FTS.B,

22.68%,

3/14/27

..

20,000‌

20,096‌

L2783023.UP.FTS.B,

22.68%,

3/14/27

....

8,200‌

8,246‌

FW2784182.UP.FTS.B,

22.7%,

3/14/27

...

7,500‌

7,542‌

L2782562.UP.FTS.B,

22.7%,

3/14/27

....

12,000‌

11,947‌

L2782657.UP.FTS.B,

22.74%,

3/14/27

....

1,700‌

1,708‌

FW2783265.UP.FTS.B,

22.77%,

3/14/27

..

6,400‌

6,431‌

FW2788584.UP.FTS.B,

22.8%,

3/14/27

...

13,100‌

13,173‌

FW2777044.UP.FTS.B,

22.81%,

3/14/27

..

5,000‌

4,978‌

L2787540.UP.FTS.B,

22.81%,

3/14/27

....

7,600‌

7,567‌

FW2753534.UP.FTS.B,

22.82%,

3/14/27

..

10,000‌

10,041‌

FW2784654.UP.FTS.B,

22.82%,

3/14/27

..

2,200‌

2,212‌

L2781656.UP.FTS.B,

22.82%,

3/14/27

....

5,400‌

5,382‌

L2780837.UP.FTS.B,

22.86%,

3/14/27

....

10,000‌

10,048‌

FW2786104.UP.FTS.B,

22.87%,

3/14/27

..

3,800‌

3,821‌

FW2781557.UP.FTS.B,

22.9%,

3/14/27

...

50,000‌

49,780‌

FW2781822.UP.FTS.B,

22.9%,

3/14/27

...

3,900‌

3,883‌

FW2784959.UP.FTS.B,

22.93%,

3/14/27

..

10,700‌

10,760‌

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L2785473.UP.FTS.B,

22.94%,

3/14/27

....

$

10,000‌

$

10,056‌

FW2782255.UP.FTS.B,

22.97%,

3/14/27

..

10,000‌

10,056‌

FW2787840.UP.FTS.B,

22.97%,

3/14/27

..

2,500‌

2,512‌

FW2780072.UP.FTS.B,

22.99%,

3/14/27

..

5,000‌

4,978‌

L2785540.UP.FTS.B,

22.99%,

3/14/27

....

4,400‌

4,425‌

FW2784934.UP.FTS.B,

23%,

3/14/27

....

21,200‌

21,107‌

L2779888.UP.FTS.B,

23%,

3/14/27

......

10,700‌

10,653‌

L2787316.UP.FTS.B,

23.04%,

3/14/27

....

17,300‌

17,397‌

L2780183.UP.FTS.B,

23.06%,

3/14/27

....

8,100‌

8,064‌

L2784944.UP.FTS.B,

23.08%,

3/14/27

....

21,800‌

21,726‌

L2784662.UP.FTS.B,

23.09%,

3/14/27

....

4,900‌

4,927‌

L2781807.UP.FTS.B,

23.11%,

3/14/27

....

2,200‌

2,190‌

FW2784618.UP.FTS.B,

23.12%,

3/14/27

..

23,000‌

23,111‌

FW2786356.UP.FTS.B,

23.15%,

3/14/27

..

13,100‌

13,043‌

FW2786995.UP.FTS.B,

23.16%,

3/14/27

..

2,400‌

2,413‌

FW2780202.UP.FTS.B,

23.19%,

3/14/27

..

5,400‌

5,382‌

L2761841.UP.FTS.B,

23.22%,

3/14/27

....

10,000‌

9,975‌

L2785554.UP.FTS.B,

23.22%,

3/14/27

....

13,000‌

13,063‌

L2784336.UP.FTS.B,

23.23%,

3/14/27

....

12,000‌

11,948‌

L2785264.UP.FTS.B,

23.25%,

3/14/27

....

1,100‌

1,096‌

L2784879.UP.FTS.B,

23.27%,

3/14/27

....

28,200‌

28,077‌

L2788591.UP.FTS.B,

23.29%,

3/14/27

....

16,400‌

16,328‌

L2760019.UP.FTS.B,

23.32%,

3/14/27

....

2,500‌

2,492‌

L2783934.UP.FTS.B,

23.32%,

3/14/27

....

11,500‌

11,450‌

FW2781188.UP.FTS.B,

23.33%,

3/14/27

..

5,500‌

5,531‌

FW2781643.UP.FTS.B,

23.35%,

3/14/27

..

8,700‌

8,749‌

L2780190.UP.FTS.B,

23.37%,

3/14/27

....

15,000‌

15,062‌

L2782223.UP.FTS.B,

23.37%,

3/14/27

....

7,500‌

7,475‌

FW2784660.UP.FTS.B,

23.39%,

3/14/27

..

12,700‌

12,771‌

L2780091.UP.FTS.B,

23.39%,

3/14/27

....

6,500‌

6,478‌

L2782075.UP.FTS.B,

23.42%,

3/14/27

....

7,500‌

7,467‌

L2783070.UP.FTS.B,

23.43%,

3/14/27

....

27,100‌

26,982‌

FW2788561.UP.FTS.B,

23.46%,

3/14/27

..

8,100‌

8,065‌

FW2782011.UP.FTS.B,

23.47%,

3/14/27

..

6,000‌

5,974‌

L2761176.UP.FTS.B,

23.49%,

3/14/27

....

5,900‌

5,885‌

L2782909.UP.FTS.B,

23.52%,

3/14/27

....

4,400‌

4,425‌

L2786831.UP.FTS.B,

23.53%,

3/14/27

....

2,800‌

2,816‌

FW2783910.UP.FTS.B,

23.55%,

3/14/27

..

8,700‌

8,749‌

L2785861.UP.FTS.B,

23.55%,

3/14/27

....

1,800‌

1,809‌

L2781260.UP.FTS.B,

23.57%,

3/14/27

....

3,800‌

3,821‌

L2782859.UP.FTS.B,

23.57%,

3/14/27

....

20,000‌

19,913‌

FW2784430.UP.FTS.B,

23.6%,

3/14/27

...

7,600‌

7,574‌

L2785160.UP.FTS.B,

23.61%,

3/14/27

....

4,400‌

4,385‌

L2782694.UP.FTS.B,

23.62%,

3/14/27

....

10,000‌

9,956‌

FW2780693.UP.FTS.B,

23.64%,

3/14/27

..

1,700‌

1,710‌

FW2788638.UP.FTS.B,

23.68%,

3/14/27

..

3,300‌

3,319‌

L2773207.UP.FTS.B,

23.68%,

3/14/27

....

22,500‌

22,626‌

L2786303.UP.FTS.B,

23.68%,

3/14/27

....

4,400‌

4,381‌

FW2783416.UP.FTS.B,

23.69%,

3/14/27

..

1,700‌

1,708‌

L2785417.UP.FTS.B,

23.7%,

3/14/27

....

4,800‌

4,779‌

FW2778811.UP.FTS.B,

23.71%,

3/14/27

..

7,000‌

6,970‌

FW2782070.UP.FTS.B,

23.71%,

3/14/27

..

16,400‌

16,480‌

L2782881.UP.FTS.B,

23.71%,

3/14/27

....

2,200‌

2,190‌

L2780981.UP.FTS.B,

23.73%,

3/14/27

....

2,500‌

2,489‌

FW2782598.UP.FTS.B,

23.76%,

3/14/27

..

4,400‌

4,381‌

FW2779943.UP.FTS.B,

23.77%,

3/14/27

..

5,039‌

5,013‌

FW2789256.UP.FTS.B,

23.77%,

3/14/27

..

42,300‌

42,505‌

L2786981.UP.FTS.B,

23.77%,

3/14/27

....

2,300‌

2,311‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

104

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2777367.UP.FTS.B,

23.84%,

3/14/27

....

$

8,700‌

$

8,749‌

L2785703.UP.FTS.B,

23.84%,

3/14/27

....

50,000‌

50,280‌

L2787821.UP.FTS.B,

23.85%,

3/14/27

....

5,200‌

5,221‌

FW2781390.UP.FTS.B,

23.87%,

3/14/27

..

3,300‌

3,319‌

L2782820.UP.FTS.B,

23.87%,

3/14/27

....

1,400‌

1,394‌

L2780834.UP.FTS.B,

23.88%,

3/14/27

....

4,400‌

4,425‌

L2755133.UP.FTS.B,

23.9%,

3/14/27

....

10,900‌

10,853‌

L2779812.UP.FTS.B,

23.92%,

3/14/27

....

7,100‌

7,076‌

FW2788696.UP.FTS.B,

23.94%,

3/14/27

..

13,000‌

12,956‌

L2782516.UP.FTS.B,

23.94%,

3/14/27

....

7,500‌

7,475‌

FW2782245.UP.FTS.B,

23.97%,

3/14/27

..

3,800‌

3,821‌

L2784400.UP.FTS.B,

23.97%,

3/14/27

....

10,800‌

10,861‌

L2785033.UP.FTS.B,

23.98%,

3/14/27

....

3,000‌

3,017‌

L2782059.UP.FTS.B,

23.99%,

3/14/27

....

8,000‌

7,965‌

L2782866.UP.FTS.B,

24.04%,

3/14/27

....

10,000‌

10,056‌

L2785483.UP.FTS.B,

24.04%,

3/14/27

....

25,000‌

25,140‌

FW2783257.UP.FTS.B,

24.06%,

3/14/27

..

3,500‌

3,485‌

FW2788985.UP.FTS.B,

24.06%,

3/14/27

..

7,000‌

6,970‌

FW2781228.UP.FTS.B,

24.08%,

3/14/27

..

19,400‌

19,509‌

FW2783835.UP.FTS.B,

24.08%,

3/14/27

..

6,000‌

5,974‌

L2785874.UP.FTS.B,

24.08%,

3/14/27

....

8,915‌

8,874‌

FW2783316.UP.FTS.B,

24.1%,

3/14/27

...

50,000‌

49,784‌

FW2789306.UP.FTS.B,

24.13%,

3/14/27

..

30,000‌

29,870‌

L2785916.UP.FTS.B,

24.17%,

3/14/27

....

10,800‌

10,753‌

FW2783759.UP.FTS.B,

24.2%,

3/14/27

...

2,200‌

2,191‌

L2784313.UP.FTS.B,

24.21%,

3/14/27

....

2,800‌

2,812‌

FW2789810.UP.FTS.B,

24.24%,

3/14/27

..

2,000‌

2,011‌

L2777858.UP.FTS.B,

24.24%,

3/14/27

....

3,500‌

3,488‌

FW2779683.UP.FTS.B,

24.26%,

3/14/27

..

36,500‌

36,342‌

L2785772.UP.FTS.B,

24.26%,

3/14/27

....

6,600‌

6,572‌

FW2786063.UP.FTS.B,

24.27%,

3/14/27

..

15,000‌

15,084‌

FW2787432.UP.FTS.B,

24.27%,

3/14/27

..

20,000‌

20,112‌

FW2779891.UP.FTS.B,

24.29%,

3/14/27

..

9,800‌

9,855‌

FW2782192.UP.FTS.B,

24.29%,

3/14/27

..

35,000‌

35,197‌

L2780844.UP.FTS.B,

24.29%,

3/14/27

....

1,500‌

1,494‌

L2790667.UP.FTS.B,

24.29%,

3/14/27

....

30,000‌

30,169‌

FW2780840.UP.FTS.B,

24.31%,

3/14/27

..

31,600‌

31,778‌

L2782609.UP.FTS.B,

24.32%,

3/14/27

....

1,100‌

1,095‌

L2781049.UP.FTS.B,

24.35%,

3/14/27

....

30,000‌

30,169‌

FW2785302.UP.FTS.B,

24.36%,

3/14/27

..

7,800‌

7,766‌

L2782467.UP.FTS.B,

24.36%,

3/14/27

....

18,000‌

18,101‌

L2786696.UP.FTS.B,

24.36%,

3/14/27

....

1,000‌

996‌

FW2780321.UP.FTS.B,

24.37%,

3/14/27

..

6,000‌

6,034‌

FW2785584.UP.FTS.B,

24.37%,

3/14/27

..

4,794‌

4,767‌

L2784096.UP.FTS.B,

24.39%,

3/14/27

....

12,500‌

12,446‌

L2786186.UP.FTS.B,

24.4%,

3/14/27

....

15,000‌

14,950‌

FW2784019.UP.FTS.B,

24.41%,

3/14/27

..

3,300‌

3,319‌

L2787675.UP.FTS.B,

24.41%,

3/14/27

....

3,300‌

3,289‌

L2779691.UP.FTS.B,

24.42%,

3/14/27

....

15,000‌

15,084‌

L2780368.UP.FTS.B,

24.46%,

3/14/27

....

2,000‌

2,011‌

FW2781651.UP.FTS.B,

24.5%,

3/14/27

...

4,000‌

4,019‌

L2789467.UP.FTS.B,

24.5%,

3/14/27

....

7,900‌

7,944‌

L2785189.UP.FTS.B,

24.51%,

3/14/27

....

34,400‌

34,252‌

FW2786034.UP.FTS.B,

24.53%,

3/14/27

..

5,400‌

5,430‌

L2780976.UP.FTS.B,

24.53%,

3/14/27

....

4,000‌

3,983‌

L2783176.UP.FTS.B,

24.55%,

3/14/27

....

5,000‌

5,028‌

L2780408.UP.FTS.B,

24.56%,

3/14/27

....

34,600‌

34,451‌

L2784521.UP.FTS.B,

24.56%,

3/14/27

....

1,000‌

996‌

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW2789662.UP.FTS.B,

24.58%,

3/14/27

..

$

20,000‌

$

19,914‌

FW2784794.UP.FTS.B,

24.59%,

3/14/27

..

4,000‌

3,983‌

L2789217.UP.FTS.B,

24.59%,

3/14/27

....

6,000‌

5,974‌

FW2787277.UP.FTS.B,

24.63%,

3/14/27

..

10,000‌

10,056‌

L2785580.UP.FTS.B,

24.64%,

3/14/27

....

971‌

967‌

FW2786154.UP.FTS.B,

24.69%,

3/14/27

..

4,400‌

4,421‌

L2763963.UP.FTS.B,

24.69%,

3/14/27

....

18,500‌

18,421‌

L2788945.UP.FTS.B,

24.69%,

3/14/27

....

1,400‌

1,395‌

FW2784504.UP.FTS.B,

24.71%,

3/14/27

..

4,400‌

4,425‌

L2790168.UP.FTS.B,

24.71%,

3/14/27

....

5,000‌

5,028‌

L2763354.UP.FTS.B,

24.72%,

3/14/27

....

10,000‌

10,056‌

L2781314.UP.FTS.B,

24.73%,

3/14/27

....

10,000‌

10,056‌

L2780767.UP.FTS.B,

24.74%,

3/14/27

....

3,800‌

3,784‌

FW2789200.UP.FTS.B,

24.76%,

3/14/27

..

10,000‌

10,056‌

L2785834.UP.FTS.B,

24.76%,

3/14/27

....

25,000‌

24,893‌

L2788091.UP.FTS.B,

24.76%,

3/14/27

....

3,000‌

3,017‌

FW2783832.UP.FTS.B,

24.77%,

3/14/27

..

7,600‌

7,643‌

FW2784538.UP.FTS.B,

24.77%,

3/14/27

..

4,709‌

4,685‌

L2782914.UP.FTS.B,

24.81%,

3/14/27

....

5,500‌

5,531‌

FW2785616.UP.FTS.B,

24.82%,

3/14/27

..

4,800‌

4,827‌

L2781646.UP.FTS.B,

24.82%,

3/14/27

....

1,500‌

1,495‌

L2785436.UP.FTS.B,

24.82%,

3/14/27

....

1,400‌

1,394‌

FW2785575.UP.FTS.B,

24.85%,

3/14/27

..

10,900‌

10,864‌

FW2773993.UP.FTS.B,

24.86%,

3/14/27

..

12,000‌

12,059‌

L2782406.UP.FTS.B,

24.86%,

3/14/27

....

1,500‌

1,494‌

FW2785579.UP.FTS.B,

24.87%,

3/14/27

..

1,700‌

1,693‌

L2780171.UP.FTS.B,

24.87%,

3/14/27

....

1,100‌

1,105‌

L2780108.UP.FTS.B,

24.9%,

3/14/27

....

1,200‌

1,207‌

L2780668.UP.FTS.B,

24.9%,

3/14/27

....

1,100‌

1,106‌

L2786424.UP.FTS.B,

24.9%,

3/14/27

....

3,000‌

3,017‌

FW2789519.UP.FTS.B,

24.91%,

3/14/27

..

3,300‌

3,319‌

FW2787364.UP.FTS.B,

24.92%,

3/14/27

..

5,500‌

5,531‌

L2784041.UP.FTS.B,

24.92%,

3/14/27

....

5,700‌

5,676‌

FW2786639.UP.FTS.B,

24.93%,

3/14/27

..

32,000‌

32,156‌

L2783320.UP.FTS.B,

24.93%,

3/14/27

....

2,000‌

2,011‌

L2789092.UP.FTS.B,

24.93%,

3/14/27

....

49,000‌

48,790‌

FW2781259.UP.FTS.B,

24.94%,

3/14/27

..

2,200‌

2,212‌

L2787716.UP.FTS.B,

24.94%,

3/14/27

....

1,600‌

1,593‌

L2782622.UP.FTS.B,

24.95%,

3/14/27

....

3,300‌

3,319‌

FW2786578.UP.FTS.B,

24.96%,

3/14/27

..

4,400‌

4,425‌

L2781584.UP.FTS.B,

24.97%,

3/14/27

....

1,800‌

1,810‌

L2785800.UP.FTS.B,

24.97%,

3/14/27

....

1,108‌

1,104‌

L2788648.UP.FTS.B,

24.97%,

3/14/27

....

3,699‌

3,679‌

FW2789180.UP.FTS.B,

24.98%,

3/14/27

..

4,400‌

4,425‌

L2782113.UP.FTS.B,

24.98%,

3/14/27

....

1,800‌

1,810‌

L2782951.UP.FTS.B,

24.98%,

3/14/27

....

5,900‌

5,881‌

L2780392.UP.FTS.B,

24.99%,

3/14/27

....

5,000‌

5,028‌

L2785666.UP.FTS.B,

24.99%,

3/14/27

....

8,200‌

8,165‌

FW2780263.UP.FTS.B,

25%,

3/14/27

....

4,400‌

4,425‌

FW2785281.UP.FTS.B,

25%,

3/14/27

....

2,300‌

2,290‌

L2782686.UP.FTS.B,

25%,

3/14/27

......

16,000‌

15,932‌

L2788674.UP.FTS.B,

25.02%,

3/14/27

....

1,100‌

1,095‌

FW2780348.UP.FTS.B,

25.03%,

3/14/27

..

5,400‌

5,430‌

L2762758.UP.FTS.B,

25.04%,

3/14/27

....

3,200‌

3,218‌

L2762807.UP.FTS.B,

25.04%,

3/14/27

....

1,400‌

1,408‌

L2782815.UP.FTS.B,

25.05%,

3/14/27

....

1,000‌

1,006‌

L2783787.UP.FTS.B,

25.07%,

3/14/27

....

1,200‌

1,207‌

L2788073.UP.FTS.B,

25.08%,

3/14/27

....

1,100‌

1,095‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

105

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2782211.UP.FTS.B,

25.12%,

3/14/27

....

$

4,100‌

$

4,083‌

L2788622.UP.FTS.B,

25.12%,

3/14/27

....

8,800‌

8,762‌

L2789388.UP.FTS.B,

25.13%,

3/14/27

....

1,200‌

1,195‌

FW2780849.UP.FTS.B,

25.14%,

3/14/27

..

8,700‌

8,663‌

FW2786218.UP.FTS.B,

25.14%,

3/14/27

..

8,100‌

8,065‌

L2781286.UP.FTS.B,

25.14%,

3/14/27

....

3,500‌

3,485‌

L2784225.UP.FTS.B,

25.14%,

3/14/27

....

1,000‌

1,006‌

L2771517.UP.FTS.B,

25.15%,

3/14/27

....

1,100‌

1,096‌

L2779851.UP.FTS.B,

25.15%,

3/14/27

....

1,100‌

1,105‌

L2782036.UP.FTS.B,

25.15%,

3/14/27

....

1,000‌

996‌

L2785611.UP.FTS.B,

25.15%,

3/14/27

....

1,100‌

1,105‌

FW2779775.UP.FTS.B,

25.16%,

3/14/27

..

3,500‌

3,485‌

FW2780910.UP.FTS.B,

25.16%,

3/14/27

..

7,500‌

7,542‌

FW2786251.UP.FTS.B,

25.16%,

3/14/27

..

30,000‌

29,872‌

L2780203.UP.FTS.B,

25.16%,

3/14/27

....

1,300‌

1,294‌

L2783233.UP.FTS.B,

25.16%,

3/14/27

....

890‌

883‌

FW2784065.UP.FTS.B,

25.17%,

3/14/27

..

13,200‌

13,265‌

L2782121.UP.FTS.B,

25.17%,

3/14/27

....

8,700‌

8,663‌

L2785652.UP.FTS.B,

25.17%,

3/14/27

....

8,900‌

8,950‌

FW2783634.UP.FTS.B,

25.18%,

3/14/27

..

8,000‌

7,966‌

FW2784381.UP.FTS.B,

25.18%,

3/14/27

..

2,200‌

2,191‌

FW2782493.UP.FTS.B,

25.19%,

3/14/27

..

2,200‌

2,191‌

L2783148.UP.FTS.B,

25.19%,

3/14/27

....

5,200‌

5,196‌

L2783409.UP.FTS.B,

25.19%,

3/14/27

....

5,700‌

5,676‌

L2784278.UP.FTS.B,

25.19%,

3/14/27

....

1,300‌

1,307‌

FW2785903.UP.FTS.B,

25.2%,

3/14/27

...

8,700‌

8,749‌

L2783822.UP.FTS.B,

25.2%,

3/14/27

....

1,700‌

1,693‌

L2786161.UP.FTS.B,

25.2%,

3/14/27

....

4,400‌

4,386‌

L2756043.UP.FTS.B,

25.21%,

3/14/27

....

7,500‌

7,468‌

L2785715.UP.FTS.B,

25.22%,

3/14/27

....

1,500‌

1,508‌

FW2781139.UP.FTS.B,

25.23%,

3/14/27

..

9,300‌

9,353‌

L2780085.UP.FTS.B,

25.23%,

3/14/27

....

1,600‌

1,595‌

L2780703.UP.FTS.B,

25.23%,

3/14/27

....

27,400‌

27,310‌

L2785508.UP.FTS.B,

25.24%,

3/14/27

....

2,800‌

2,816‌

L2790763.UP.FTS.B,

25.24%,

3/14/27

....

50,000‌

50,282‌

L2783094.UP.FTS.B,

25.25%,

3/14/27

....

7,900‌

7,866‌

L2776228.UP.FTS.B,

25.26%,

3/14/27

....

3,000‌

2,987‌

L2785846.UP.FTS.B,

25.26%,

3/14/27

....

13,500‌

13,576‌

L2786152.UP.FTS.B,

25.26%,

3/14/27

....

1,800‌

1,794‌

L2788841.UP.FTS.B,

25.26%,

3/14/27

....

1,000‌

1,005‌

L2782384.UP.FTS.B,

25.27%,

3/14/27

....

1,200‌

1,207‌

L2787770.UP.FTS.B,

25.27%,

3/14/27

....

1,100‌

1,106‌

L2784711.UP.FTS.B,

25.28%,

3/14/27

....

2,500‌

2,489‌

L2780354.UP.FTS.B,

25.29%,

3/14/27

....

14,700‌

14,783‌

L2781929.UP.FTS.B,

25.3%,

3/14/27

....

1,700‌

1,693‌

L2785136.UP.FTS.B,

25.3%,

3/14/27

....

3,200‌

3,186‌

L2785498.UP.FTS.B,

25.3%,

3/14/27

....

1,000‌

996‌

L2785844.UP.FTS.B,

25.3%,

3/14/27

....

2,400‌

2,390‌

L2786640.UP.FTS.B,

25.3%,

3/14/27

....

5,100‌

5,129‌

FW2781846.UP.FTS.B,

25.31%,

3/14/27

..

12,600‌

12,671‌

FW2788742.UP.FTS.B,

25.31%,

3/14/27

..

2,800‌

2,816‌

L2762586.UP.FTS.B,

25.31%,

3/14/27

....

13,300‌

13,375‌

L2780766.UP.FTS.B,

25.31%,

3/14/27

....

19,600‌

19,696‌

L2785356.UP.FTS.B,

25.31%,

3/14/27

....

3,600‌

3,620‌

L2781289.UP.FTS.B,

25.32%,

3/14/27

....

12,000‌

12,068‌

L2781668.UP.FTS.B,

25.32%,

3/14/27

....

1,362‌

1,350‌

L2782763.UP.FTS.B,

25.32%,

3/14/27

....

1,800‌

1,809‌

L2786994.UP.FTS.B,

25.32%,

3/14/27

....

4,700‌

4,680‌

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L2788135.UP.FTS.B,

25.32%,

3/14/27

....

$

4,400‌

$

4,386‌

L2789685.UP.FTS.B,

25.32%,

3/14/27

....

2,500‌

2,489‌

L2786111.UP.FTS.B,

25.33%,

3/14/27

....

1,100‌

1,095‌

L2782339.UP.FTS.B,

25.34%,

3/14/27

....

1,600‌

1,609‌

L2783030.UP.FTS.B,

25.34%,

3/14/27

....

12,600‌

12,671‌

L2785122.UP.FTS.B,

25.34%,

3/14/27

....

1,700‌

1,710‌

L2779712.UP.FTS.B,

25.35%,

3/14/27

....

2,400‌

2,390‌

L2783282.UP.FTS.B,

25.35%,

3/14/27

....

1,600‌

1,593‌

L2784058.UP.FTS.B,

25.35%,

3/14/27

....

8,400‌

8,441‌

L2784505.UP.FTS.B,

25.35%,

3/14/27

....

3,300‌

3,292‌

L2785055.UP.FTS.B,

25.35%,

3/14/27

....

2,200‌

2,191‌

FW2784870.UP.FTS.B,

25.36%,

3/14/27

..

7,700‌

7,744‌

L2758245.UP.FTS.B,

25.36%,

3/14/27

....

6,935‌

6,908‌

L2783459.UP.FTS.B,

25.36%,

3/14/27

....

4,600‌

4,626‌

L2785851.UP.FTS.B,

25.36%,

3/14/27

....

1,100‌

1,095‌

L2789222.UP.FTS.B,

25.36%,

3/14/27

....

1,600‌

1,609‌

L2766318.UP.FTS.B,

25.37%,

3/14/27

....

11,200‌

11,152‌

L2777115.UP.FTS.B,

25.37%,

3/14/27

....

4,300‌

4,321‌

L2782042.UP.FTS.B,

25.37%,

3/14/27

....

1,500‌

1,508‌

L2782190.UP.FTS.B,

25.37%,

3/14/27

....

1,200‌

1,206‌

L2788621.UP.FTS.B,

25.37%,

3/14/27

....

6,200‌

6,235‌

L2779717.UP.FTS.B,

25.38%,

3/14/27

....

1,600‌

1,593‌

L2785405.UP.FTS.B,

25.38%,

3/14/27

....

25,000‌

24,894‌

L2786469.UP.FTS.B,

25.38%,

3/14/27

....

2,800‌

2,788‌

L2786791.UP.FTS.B,

25.38%,

3/14/27

....

1,200‌

1,195‌

L2787407.UP.FTS.B,

25.38%,

3/14/27

....

3,600‌

3,620‌

FW2786988.UP.FTS.B,

25.39%,

3/14/27

..

1,100‌

1,095‌

L2780613.UP.FTS.B,

25.39%,

3/14/27

....

6,600‌

6,572‌

L2781090.UP.FTS.B,

25.39%,

3/14/27

....

1,700‌

1,693‌

L2781639.UP.FTS.B,

25.39%,

3/14/27

....

2,000‌

2,011‌

L2781787.UP.FTS.B,

25.4%,

3/14/27

....

8,000‌

–‌

L2782789.UP.FTS.B,

25.4%,

3/14/27

....

3,700‌

3,684‌

L2786099.UP.FTS.B,

25.4%,

3/14/27

....

7,900‌

7,866‌

FW2788007.UP.FTS.B,

25.41%,

3/14/27

..

7,400‌

7,376‌

L2780553.UP.FTS.B,

25.41%,

3/14/27

....

1,500‌

1,494‌

L2784514.UP.FTS.B,

25.41%,

3/14/27

....

1,400‌

1,394‌

L2788160.UP.FTS.B,

25.41%,

3/14/27

....

3,600‌

3,620‌

FW2781561.UP.FTS.B,

25.42%,

3/14/27

..

6,200‌

6,174‌

FW2783702.UP.FTS.B,

25.42%,

3/14/27

..

11,200‌

11,163‌

FW2786974.UP.FTS.B,

25.42%,

3/14/27

..

3,300‌

3,319‌

L2780048.UP.FTS.B,

25.42%,

3/14/27

....

8,100‌

8,146‌

L2780699.UP.FTS.B,

25.42%,

3/14/27

....

4,100‌

4,083‌

L2781498.UP.FTS.B,

25.42%,

3/14/27

....

9,600‌

9,559‌

L2783648.UP.FTS.B,

25.42%,

3/14/27

....

8,000‌

8,039‌

L2789382.UP.FTS.B,

25.42%,

3/14/27

....

1,800‌

1,810‌

FW2779865.UP.FTS.B,

25.43%,

3/14/27

..

27,200‌

27,354‌

FW2784695.UP.FTS.B,

25.44%,

3/14/27

..

5,500‌

5,531‌

L2782753.UP.FTS.B,

25.44%,

3/14/27

....

1,800‌

1,792‌

L2782792.UP.FTS.B,

25.44%,

3/14/27

....

5,700‌

5,676‌

L2783659.UP.FTS.B,

25.44%,

3/14/27

....

2,800‌

2,788‌

L2785196.UP.FTS.B,

25.44%,

3/14/27

....

2,700‌

2,689‌

L2786472.UP.FTS.B,

25.44%,

3/14/27

....

3,100‌

3,118‌

L2789341.UP.FTS.B,

25.44%,

3/14/27

....

1,000‌

998‌

L2790313.UP.FTS.B,

25.44%,

3/14/27

....

1,600‌

1,595‌

FW2781250.UP.FTS.B,

25.45%,

3/14/27

..

2,500‌

2,514‌

L2782387.UP.FTS.B,

25.45%,

3/14/27

....

5,800‌

5,833‌

L2782674.UP.FTS.B,

25.45%,

3/14/27

....

5,300‌

5,283‌

L2789729.UP.FTS.B,

25.45%,

3/14/27

....

1,200‌

1,195‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

106

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2738355.UP.FTS.B,

25.46%,

3/14/27

....

$

9,800‌

$

9,758‌

L2762162.UP.FTS.B,

25.46%,

3/14/27

....

1,100‌

1,106‌

L2775042.UP.FTS.B,

25.46%,

3/14/27

....

1,400‌

1,408‌

L2780947.UP.FTS.B,

25.46%,

3/14/27

....

13,500‌

13,576‌

L2781236.UP.FTS.B,

25.46%,

3/14/27

....

1,800‌

1,792‌

L2789403.UP.FTS.B,

25.46%,

3/14/27

....

1,000‌

1,006‌

L2779831.UP.FTS.B,

25.47%,

3/14/27

....

1,000‌

998‌

L2779922.UP.FTS.B,

25.47%,

3/14/27

....

1,700‌

1,708‌

L2781004.UP.FTS.B,

25.47%,

3/14/27

....

3,800‌

3,784‌

L2781384.UP.FTS.B,

25.47%,

3/14/27

....

2,000‌

1,992‌

L2781942.UP.FTS.B,

25.47%,

3/14/27

....

2,700‌

2,715‌

L2783845.UP.FTS.B,

25.47%,

3/14/27

....

6,800‌

6,771‌

FW2783798.UP.FTS.B,

25.48%,

3/14/27

..

5,400‌

5,431‌

FW2785945.UP.FTS.B,

25.48%,

3/14/27

..

2,700‌

2,715‌

L2780106.UP.FTS.B,

25.48%,

3/14/27

....

20,600‌

20,716‌

L2780799.UP.FTS.B,

25.48%,

3/14/27

....

21,500‌

21,430‌

L2784721.UP.FTS.B,

25.48%,

3/14/27

....

2,300‌

2,290‌

L2784786.UP.FTS.B,

25.48%,

3/14/27

....

29,000‌

28,877‌

L2785894.UP.FTS.B,

25.48%,

3/14/27

....

2,100‌

2,112‌

L2789644.UP.FTS.B,

25.48%,

3/14/27

....

8,300‌

8,347‌

L2771933.UP.FTS.B,

25.49%,

3/14/27

....

1,700‌

1,694‌

L2781099.UP.FTS.B,

25.49%,

3/14/27

....

2,000‌

1,992‌

L2783331.UP.FTS.B,

25.49%,

3/14/27

....

15,200‌

15,150‌

L2785973.UP.FTS.B,

25.49%,

3/14/27

....

3,700‌

3,688‌

L2789126.UP.FTS.B,

25.49%,

3/14/27

....

4,100‌

4,123‌

L2781097.UP.FTS.B,

25.5%,

3/14/27

....

2,100‌

2,112‌

L2781634.UP.FTS.B,

25.5%,

3/14/27

....

11,200‌

11,152‌

L2782100.UP.FTS.B,

25.5%,

3/14/27

....

2,300‌

2,290‌

L2782416.UP.FTS.B,

25.5%,

3/14/27

....

6,800‌

6,838‌

L2783689.UP.FTS.B,

25.5%,

3/14/27

....

10,000‌

10,057‌

L2784183.UP.FTS.B,

25.5%,

3/14/27

....

3,700‌

3,684‌

L2785003.UP.FTS.B,

25.5%,

3/14/27

....

9,100‌

9,151‌

L2787414.UP.FTS.B,

25.5%,

3/14/27

....

1,600‌

1,609‌

L2780940.UP.FTS.B,

25.51%,

3/14/27

....

11,300‌

11,252‌

L2782131.UP.FTS.B,

25.51%,

3/14/27

....

17,600‌

17,700‌

L2783650.UP.FTS.B,

25.51%,

3/14/27

....

3,300‌

3,286‌

L2785441.UP.FTS.B,

25.51%,

3/14/27

....

3,800‌

3,821‌

L2785664.UP.FTS.B,

25.51%,

3/14/27

....

3,400‌

3,419‌

L2788040.UP.FTS.B,

25.51%,

3/14/27

....

2,400‌

2,390‌

FW2785898.UP.FTS.B,

25.52%,

3/14/27

..

3,300‌

3,286‌

FW2786678.UP.FTS.B,

25.53%,

3/14/27

..

3,900‌

3,883‌

L2783105.UP.FTS.B,

25.53%,

3/14/27

....

3,600‌

3,585‌

L2783570.UP.FTS.B,

25.53%,

3/14/27

....

3,900‌

3,883‌

L2784004.UP.FTS.B,

25.53%,

3/14/27

....

3,300‌

3,319‌

L2782017.UP.FTS.B,

25.54%,

3/14/27

....

2,100‌

2,093‌

FW2779787.UP.FTS.B,

25.55%,

3/14/27

..

13,000‌

12,945‌

FW2783441.UP.FTS.B,

25.55%,

3/14/27

..

6,600‌

6,637‌

L2785828.UP.FTS.B,

25.55%,

3/14/27

....

5,500‌

5,531‌

L2788882.UP.FTS.B,

25.56%,

3/14/27

....

6,162‌

6,130‌

L2789121.UP.FTS.B,

25.56%,

3/14/27

....

3,300‌

3,286‌

FW2784612.UP.FTS.B,

25.59%,

3/14/27

..

42,800‌

43,042‌

FW2787136.UP.FTS.B,

25.59%,

3/14/27

..

21,300‌

21,420‌

FW2779971.UP.FTS.B,

25.6%,

3/14/27

...

22,700‌

22,604‌

FW2780711.UP.FTS.B,

25.6%,

3/14/27

...

8,600‌

8,642‌

FW2785182.UP.FTS.B,

25.6%,

3/14/27

...

34,600‌

34,453‌

FW2788301.UP.FTS.B,

25.6%,

3/14/27

...

5,500‌

5,531‌

L2779594.UP.FTS.B,

25.6%,

3/14/27

....

3,600‌

3,585‌

L2783555.UP.FTS.B,

25.63%,

3/14/27

....

3,400‌

3,386‌

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L2787005.UP.FTS.B,

25.63%,

3/14/27

....

$

15,000‌

$

14,936‌

L2781773.UP.FTS.B,

25.64%,

3/14/27

....

5,500‌

5,477‌

L2782139.UP.FTS.B,

25.66%,

3/14/27

....

21,000‌

21,103‌

L2784850.UP.FTS.B,

25.66%,

3/14/27

....

4,300‌

4,282‌

L2789273.UP.FTS.B,

25.66%,

3/14/27

....

3,400‌

3,417‌

L2779605.UP.FTS.B,

25.67%,

3/14/27

....

1,700‌

1,693‌

FW2783690.UP.FTS.B,

25.69%,

3/14/27

..

10,900‌

10,854‌

FW2787434.UP.FTS.B,

25.69%,

3/14/27

..

4,000‌

3,983‌

FW2783763.UP.FTS.B,

25.71%,

3/14/27

..

5,000‌

4,979‌

FW2785711.UP.FTS.B,

25.72%,

3/14/27

..

36,600‌

36,752‌

FW2779444.UP.FTS.B,

25.73%,

3/14/27

..

5,000‌

4,979‌

L2780672.UP.FTS.B,

25.73%,

3/14/27

....

12,700‌

12,772‌

FW2780350.UP.FTS.B,

25.74%,

3/14/27

..

1,100‌

1,106‌

FW2780847.UP.FTS.B,

25.74%,

3/14/27

..

4,500‌

4,525‌

FW2780856.UP.FTS.B,

25.75%,

3/14/27

..

20,500‌

20,616‌

FW2787230.UP.FTS.B,

25.75%,

3/14/27

..

7,500‌

7,542‌

FW2782144.UP.FTS.B,

25.77%,

3/14/27

..

2,700‌

2,715‌

FW2784068.UP.FTS.B,

25.78%,

3/14/27

..

1,500‌

1,495‌

L2783948.UP.FTS.B,

25.78%,

3/14/27

....

6,400‌

6,373‌

L2784093.UP.FTS.B,

25.79%,

3/14/27

....

9,000‌

8,971‌

FW2785241.UP.FTS.B,

25.8%,

3/14/27

...

15,300‌

15,235‌

FW2789673.UP.FTS.B,

25.81%,

3/14/27

..

4,400‌

4,381‌

FW2782693.UP.FTS.B,

25.83%,

3/14/27

..

21,800‌

21,708‌

FW2785161.UP.FTS.B,

25.83%,

3/14/27

..

10,000‌

10,057‌

FW2780258.UP.FTS.B,

25.85%,

3/14/27

..

50,000‌

50,283‌

FW2782682.UP.FTS.B,

25.85%,

3/14/27

..

13,000‌

12,945‌

L2782068.UP.FTS.B,

25.85%,

3/14/27

....

22,500‌

22,405‌

FW2779937.UP.FTS.B,

25.86%,

3/14/27

..

15,800‌

15,889‌

FW2785698.UP.FTS.B,

25.86%,

3/14/27

..

12,000‌

11,949‌

FW2782456.UP.FTS.B,

25.87%,

3/14/27

..

25,000‌

24,894‌

L2780008.UP.FTS.B,

25.87%,

3/14/27

....

6,300‌

6,336‌

L2781526.UP.FTS.B,

25.87%,

3/14/27

....

5,400‌

5,377‌

L2780080.UP.FTS.B,

25.88%,

3/14/27

....

9,500‌

9,460‌

FW2786039.UP.FTS.B,

25.89%,

3/14/27

..

4,800‌

4,827‌

FW2789463.UP.FTS.B,

25.89%,

3/14/27

..

8,700‌

8,749‌

FW2780770.UP.FTS.B,

25.9%,

3/14/27

...

10,900‌

10,962‌

L2783927.UP.FTS.B,

25.9%,

3/14/27

....

12,000‌

11,949‌

L2790291.UP.FTS.B,

25.9%,

3/14/27

....

3,600‌

3,620‌

FW2789383.UP.FTS.B,

25.92%,

3/14/27

..

2,200‌

2,212‌

FW2790136.UP.FTS.B,

25.92%,

3/14/27

..

35,900‌

35,784‌

L2779415.UP.FTS.B,

25.96%,

3/14/27

....

4,600‌

4,623‌

L2781244.UP.FTS.B,

25.96%,

3/14/27

....

7,300‌

7,269‌

L2786958.UP.FTS.B,

25.96%,

3/14/27

....

6,100‌

6,135‌

L2787560.UP.FTS.B,

25.96%,

3/14/27

....

3,600‌

3,585‌

FW2790410.UP.FTS.B,

25.97%,

3/14/27

..

2,500‌

2,489‌

L2780995.UP.FTS.B,

25.98%,

3/14/27

....

13,800‌

13,742‌

L2788615.UP.FTS.B,

25.98%,

3/14/27

....

4,500‌

4,526‌

L2783013.UP.FTS.B,

25.99%,

3/14/27

....

2,100‌

2,109‌

L2785293.UP.FTS.B,

26%,

3/14/27

......

6,800‌

6,771‌

FW2789493.UP.FTS.B,

26.02%,

3/14/27

..

13,690‌

13,622‌

FW2785920.UP.FTS.B,

26.05%,

3/14/27

..

10,800‌

10,754‌

L2782923.UP.FTS.B,

26.05%,

3/14/27

....

2,600‌

2,589‌

L2787985.UP.FTS.B,

26.07%,

3/14/27

....

2,300‌

2,290‌

FW2789885.UP.FTS.B,

26.1%,

3/14/27

...

8,700‌

8,663‌

L2782453.UP.FTS.B,

26.12%,

3/14/27

....

9,400‌

9,360‌

FW2790587.UP.FTS.B,

26.13%,

3/14/27

..

11,300‌

11,364‌

L2761628.UP.FTS.B,

26.13%,

3/14/27

....

8,000‌

7,966‌

L2787983.UP.FTS.B,

26.14%,

3/14/27

....

3,700‌

3,688‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

107

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

L2767489.UP.FTS.B,

26.15%,

3/14/27

....

$

9,700‌

$

9,659‌

FW2783121.UP.FTS.B,

26.17%,

3/14/27

..

4,900‌

4,879‌

L2789391.UP.FTS.B,

26.18%,

3/14/27

....

2,600‌

2,615‌

FW2781418.UP.FTS.B,

26.19%,

3/14/27

..

1,100‌

1,095‌

FW2782503.UP.FTS.B,

26.19%,

3/14/27

..

5,500‌

5,531‌

L2790694.UP.FTS.B,

26.19%,

3/14/27

....

2,000‌

1,995‌

FW2786542.UP.FTS.B,

26.24%,

3/14/27

..

21,800‌

21,924‌

L2788594.UP.FTS.B,

26.26%,

3/14/27

....

8,300‌

8,347‌

FW2781434.UP.FTS.B,

26.27%,

3/14/27

..

40,000‌

40,197‌

FW2780132.UP.FTS.B,

26.28%,

3/14/27

..

2,500‌

2,489‌

FW2781283.UP.FTS.B,

26.28%,

3/14/27

..

11,000‌

10,965‌

FW2784157.UP.FTS.B,

26.28%,

3/14/27

..

44,600‌

44,853‌

FW2785999.UP.FTS.B,

26.29%,

3/14/27

..

9,600‌

9,560‌

L2787642.UP.FTS.B,

26.29%,

3/14/27

....

2,700‌

2,715‌

FW2786626.UP.FTS.B,

26.35%,

3/14/27

..

2,200‌

2,191‌

FW2786872.UP.FTS.B,

26.36%,

3/14/27

..

1,900‌

1,892‌

FW2780916.UP.FTS.B,

26.37%,

3/14/27

..

4,600‌

4,626‌

FW2786839.UP.FTS.B,

26.39%,

3/14/27

..

13,000‌

12,945‌

FW2781613.UP.FTS.B,

26.4%,

3/14/27

...

3,400‌

3,386‌

FW2785430.UP.FTS.B,

26.4%,

3/14/27

...

13,000‌

13,074‌

L2783551.UP.FTS.B,

26.4%,

3/14/27

....

8,500‌

8,548‌

FW2782469.UP.FTS.B,

26.41%,

3/14/27

..

12,000‌

11,950‌

L2780989.UP.FTS.B,

26.41%,

3/14/27

....

23,600‌

23,699‌

FW2740721.UP.FTS.B,

26.47%,

3/14/27

..

3,200‌

3,218‌

L2779936.UP.FTS.B,

26.49%,

3/14/27

....

3,700‌

3,684‌

FW2774639.UP.FTS.B,

26.5%,

3/14/27

...

7,500‌

7,469‌

FW2783423.UP.FTS.B,

26.53%,

3/14/27

..

10,000‌

9,958‌

L2783137.UP.FTS.B,

26.54%,

3/14/27

....

8,500‌

8,464‌

FW2782876.UP.FTS.B,

26.56%,

3/14/27

..

10,000‌

10,057‌

FW2785883.UP.FTS.B,

26.57%,

3/14/27

..

6,500‌

6,537‌

FW2784999.UP.FTS.B,

26.58%,

3/14/27

..

5,500‌

5,477‌

FW2788390.UP.FTS.B,

26.61%,

3/14/27

..

3,000‌

2,987‌

FW2780039.UP.FTS.B,

26.66%,

3/14/27

..

2,200‌

2,213‌

L2781275.UP.FTS.B,

26.69%,

3/14/27

....

7,400‌

7,369‌

FW2786185.UP.FTS.B,

26.7%,

3/14/27

...

5,000‌

5,028‌

FW2788205.UP.FTS.B,

26.7%,

3/14/27

...

10,300‌

10,359‌

FW2781116.UP.FTS.B,

26.73%,

3/14/27

..

8,500‌

8,548‌

FW2782433.UP.FTS.B,

26.73%,

3/14/27

..

5,400‌

5,431‌

FW2784337.UP.FTS.B,

26.73%,

3/14/27

..

6,500‌

6,537‌

FW2785076.UP.FTS.B,

26.73%,

3/14/27

..

3,000‌

2,987‌

FW2782583.UP.FTS.B,

26.76%,

3/14/27

..

5,000‌

4,979‌

FW2785556.UP.FTS.B,

26.76%,

3/14/27

..

7,000‌

6,971‌

FW2783959.UP.FTS.B,

26.81%,

3/14/27

..

11,800‌

11,751‌

FW2785914.UP.FTS.B,

26.81%,

3/14/27

..

3,300‌

3,319‌

FW2781640.UP.FTS.B,

26.82%,

3/14/27

..

21,500‌

21,410‌

FW2781134.UP.FTS.B,

26.83%,

3/14/27

..

6,000‌

5,975‌

FW2777326.UP.FTS.B,

26.85%,

3/14/27

..

4,900‌

4,880‌

FW2783028.UP.FTS.B,

26.85%,

3/14/27

..

10,500‌

10,456‌

FW2790522.UP.FTS.B,

26.85%,

3/14/27

..

9,200‌

9,252‌

FW2783352.UP.FTS.B,

26.87%,

3/14/27

..

7,900‌

7,867‌

L2781645.UP.FTS.B,

26.87%,

3/14/27

....

8,800‌

8,850‌

FW2784070.UP.FTS.B,

26.88%,

3/14/27

..

16,300‌

16,232‌

FW2781537.UP.FTS.B,

26.89%,

3/14/27

..

4,094‌

4,078‌

L2779692.UP.FTS.B,

26.94%,

3/14/27

....

1,300‌

1,295‌

FW2783215.UP.FTS.B,

26.96%,

3/14/27

..

10,000‌

10,057‌

FW2785739.UP.FTS.B,

26.98%,

3/14/27

..

3,300‌

3,319‌

FW2784428.UP.FTS.B,

27.03%,

3/14/27

..

5,700‌

5,732‌

FW2779756.UP.FTS.B,

27.04%,

3/14/27

..

5,400‌

5,431‌

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW2781267.UP.FTS.B,

27.05%,

3/14/27

..

$

5,000‌

$

4,979‌

FW2789531.UP.FTS.B,

27.05%,

3/14/27

..

15,000‌

14,938‌

FW2787704.UP.FTS.B,

27.06%,

3/14/27

..

2,000‌

2,011‌

FW2787336.UP.FTS.B,

27.09%,

3/14/27

..

8,000‌

8,046‌

FW2784913.UP.FTS.B,

27.1%,

3/14/27

...

13,000‌

13,074‌

FW2785449.UP.FTS.B,

27.1%,

3/14/27

...

10,000‌

10,057‌

FW2789171.UP.FTS.B,

27.1%,

3/14/27

...

5,400‌

5,431‌

FW2781100.UP.FTS.B,

27.11%,

3/14/27

..

3,500‌

3,485‌

FW2784781.UP.FTS.B,

27.14%,

3/14/27

..

7,600‌

7,643‌

FW2785546.UP.FTS.B,

27.15%,

3/14/27

..

4,900‌

4,880‌

FW2788735.UP.FTS.B,

27.15%,

3/14/27

..

5,000‌

4,979‌

FW2790487.UP.FTS.B,

27.19%,

3/14/27

..

3,500‌

3,485‌

L2784086.UP.FTS.B,

27.19%,

3/14/27

....

4,400‌

4,418‌

FW2780366.UP.FTS.B,

27.22%,

3/14/27

..

3,300‌

3,319‌

FW2781861.UP.FTS.B,

27.22%,

3/14/27

..

1,800‌

1,810‌

FW2782171.UP.FTS.B,

27.22%,

3/14/27

..

7,000‌

6,971‌

FW2789041.UP.FTS.B,

27.27%,

3/14/27

..

5,400‌

5,431‌

FW2784994.UP.FTS.B,

27.31%,

3/14/27

..

5,500‌

5,477‌

FW2785253.UP.FTS.B,

27.32%,

3/14/27

..

5,000‌

5,029‌

FW2782365.UP.FTS.B,

27.34%,

3/14/27

..

5,000‌

4,979‌

FW2788518.UP.FTS.B,

27.34%,

3/14/27

..

5,100‌

5,129‌

FW2780191.UP.FTS.B,

27.35%,

3/14/27

..

4,400‌

4,425‌

L2782849.UP.FTS.B,

27.38%,

3/14/27

....

4,800‌

4,827‌

FW2779746.UP.FTS.B,

27.4%,

3/14/27

...

10,000‌

10,057‌

FW2781187.UP.FTS.B,

27.42%,

3/14/27

..

2,800‌

2,816‌

FW2787946.UP.FTS.B,

27.42%,

3/14/27

..

19,000‌

19,108‌

L2785536.UP.FTS.B,

27.43%,

3/14/27

....

14,700‌

14,784‌

FW2781328.UP.FTS.B,

27.46%,

3/14/27

..

45,000‌

44,814‌

FW2781329.UP.FTS.B,

27.46%,

3/14/27

..

2,500‌

2,490‌

FW2782057.UP.FTS.B,

27.48%,

3/14/27

..

10,900‌

10,855‌

FW2783862.UP.FTS.B,

27.48%,

3/14/27

..

6,863‌

6,831‌

FW2780427.UP.FTS.B,

27.49%,

3/14/27

..

3,000‌

3,017‌

FW2780043.UP.FTS.B,

27.53%,

3/14/27

..

2,200‌

2,213‌

L2780772.UP.FTS.B,

27.53%,

3/14/27

....

6,000‌

6,034‌

FW2788769.UP.FTS.B,

27.54%,

3/14/27

..

21,400‌

21,312‌

L2783614.UP.FTS.B,

27.63%,

3/14/27

....

8,600‌

8,564‌

FW2780514.UP.FTS.B,

27.64%,

3/14/27

..

5,500‌

5,477‌

FW2779452.UP.FTS.B,

27.68%,

3/14/27

..

3,500‌

3,520‌

FW2780278.UP.FTS.B,

27.7%,

3/14/27

...

43,500‌

43,321‌

FW2783812.UP.FTS.B,

27.72%,

3/14/27

..

5,400‌

5,378‌

FW2781744.UP.FTS.B,

27.73%,

3/14/27

..

15,000‌

15,086‌

FW2789146.UP.FTS.B,

27.73%,

3/14/27

..

3,900‌

3,884‌

FW2781921.UP.FTS.B,

27.75%,

3/14/27

..

3,500‌

3,486‌

FW2784987.UP.FTS.B,

27.75%,

3/14/27

..

16,200‌

16,133‌

FW2787204.UP.FTS.B,

27.75%,

3/14/27

..

38,100‌

38,318‌

FW2784204.UP.FTS.B,

27.77%,

3/14/27

..

3,300‌

3,319‌

FW2781368.UP.FTS.B,

27.78%,

3/14/27

..

2,800‌

2,816‌

FW2780839.UP.FTS.B,

27.8%,

3/14/27

...

8,500‌

8,465‌

FW2786682.UP.FTS.B,

27.8%,

3/14/27

...

38,100‌

37,943‌

FW2782441.UP.FTS.B,

27.81%,

3/14/27

..

21,400‌

21,522‌

FW2780370.UP.FTS.B,

27.85%,

3/14/27

..

21,800‌

21,925‌

FW2782891.UP.FTS.B,

27.85%,

3/14/27

..

9,400‌

9,454‌

FW2783291.UP.FTS.B,

27.85%,

3/14/27

..

3,800‌

3,784‌

FW2783303.UP.FTS.B,

27.89%,

3/14/27

..

10,000‌

10,057‌

FW2786495.UP.FTS.B,

27.9%,

3/14/27

...

5,500‌

5,477‌

FW2783389.UP.FTS.B,

27.94%,

3/14/27

..

10,900‌

10,855‌

L2786220.UP.FTS.B,

27.96%,

3/14/27

....

3,100‌

3,115‌

L2786514.UP.FTS.B,

27.96%,

3/14/27

....

2,200‌

2,213‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

108

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

FW2785839.UP.FTS.B,

27.97%,

3/14/27

..

$

35,000‌

$

34,856‌

FW2786087.UP.FTS.B,

27.98%,

3/14/27

..

3,715‌

3,696‌

FW2784087.UP.FTS.B,

27.99%,

3/14/27

..

3,000‌

3,017‌

FW2783828.UP.FTS.B,

28%,

3/14/27

....

8,000‌

8,046‌

FW2786129.UP.FTS.B,

28%,

3/14/27

....

5,000‌

4,979‌

FW2789959.UP.FTS.B,

28.01%,

3/14/27

..

3,300‌

3,286‌

FW2788420.UP.FTS.B,

28.03%,

3/14/27

..

6,500‌

6,537‌

FW2781052.UP.FTS.B,

28.05%,

3/14/27

..

7,600‌

7,638‌

FW2785385.UP.FTS.B,

28.06%,

3/14/27

..

7,700‌

7,744‌

FW2780490.UP.FTS.B,

28.1%,

3/14/27

...

3,300‌

3,319‌

FW2780403.UP.FTS.B,

28.18%,

3/14/27

..

4,800‌

4,780‌

FW2785555.UP.FTS.B,

28.23%,

3/14/27

..

1,100‌

1,106‌

FW2784340.UP.FTS.B,

28.27%,

3/14/27

..

3,300‌

3,319‌

FW2782572.UP.FTS.B,

28.31%,

3/14/27

..

1,582‌

1,575‌

FW2781578.UP.FTS.B,

28.33%,

3/14/27

..

14,200‌

14,281‌

FW2789642.UP.FTS.B,

28.34%,

3/14/27

..

10,000‌

9,959‌

FW2781808.UP.FTS.B,

28.36%,

3/14/27

..

11,000‌

10,955‌

L2784704.UP.FTS.B,

28.4%,

3/14/27

....

4,600‌

4,626‌

FW2781950.UP.FTS.B,

28.45%,

3/14/27

..

7,000‌

7,040‌

FW2784111.UP.FTS.B,

28.45%,

3/14/27

..

6,000‌

5,975‌

FW2781108.UP.FTS.B,

28.46%,

3/14/27

..

3,800‌

3,784‌

L2780004.UP.FTS.B,

28.5%,

3/14/27

....

3,800‌

3,822‌

FW2781674.UP.FTS.B,

28.51%,

3/14/27

..

6,500‌

6,473‌

L2785465.UP.FTS.B,

28.54%,

3/14/27

....

4,700‌

4,727‌

FW2785248.UP.FTS.B,

28.55%,

3/14/27

..

2,200‌

2,213‌

FW2786004.UP.FTS.B,

28.57%,

3/14/27

..

11,400‌

11,354‌

FW2789834.UP.FTS.B,

28.57%,

3/14/27

..

1,100‌

1,096‌

FW2781987.UP.FTS.B,

28.61%,

3/14/27

..

22,000‌

22,126‌

FW2786144.UP.FTS.B,

28.61%,

3/14/27

..

2,100‌

2,112‌

FW2790351.UP.FTS.B,

28.63%,

3/14/27

..

5,000‌

5,029‌

FW2788124.UP.FTS.B,

28.64%,

3/14/27

..

9,800‌

9,760‌

L2788699.UP.FTS.B,

28.65%,

3/14/27

....

6,600‌

6,638‌

FW2786168.UP.FTS.B,

28.7%,

3/14/27

...

10,000‌

10,057‌

FW2749985.UP.FTS.B,

28.71%,

3/14/27

..

2,200‌

2,213‌

FW2780226.UP.FTS.B,

28.72%,

3/14/27

..

7,500‌

7,469‌

FW2788496.UP.FTS.B,

28.72%,

3/14/27

..

7,600‌

7,644‌

FW2787016.UP.FTS.B,

28.75%,

3/14/27

..

15,000‌

15,086‌

FW2786938.UP.FTS.B,

28.76%,

3/14/27

..

2,800‌

2,789‌

FW2787789.UP.FTS.B,

28.76%,

3/14/27

..

1,500‌

1,509‌

L2753124.UP.FTS.B,

28.79%,

3/14/27

....

8,400‌

8,448‌

FW2785517.UP.FTS.B,

28.82%,

3/14/27

..

21,700‌

21,612‌

FW2780172.UP.FTS.B,

28.83%,

3/14/27

..

2,000‌

2,011‌

FW2784235.UP.FTS.B,

28.84%,

3/14/27

..

5,000‌

4,980‌

FW2784893.UP.FTS.B,

28.85%,

3/14/27

..

10,900‌

10,962‌

FW2783497.UP.FTS.B,

28.87%,

3/14/27

..

3,800‌

3,785‌

FW2788575.UP.FTS.B,

28.88%,

3/14/27

..

20,000‌

19,919‌

FW2784865.UP.FTS.B,

28.89%,

3/14/27

..

1,100‌

1,106‌

FW2785593.UP.FTS.B,

28.9%,

3/14/27

...

8,400‌

8,366‌

FW2789750.UP.FTS.B,

28.92%,

3/14/27

..

4,000‌

4,023‌

L2781157.UP.FTS.B,

28.92%,

3/14/27

....

18,800‌

18,893‌

FW2787416.UP.FTS.B,

28.94%,

3/14/27

..

1,300‌

1,295‌

FW2784104.UP.FTS.B,

28.97%,

3/14/27

..

5,500‌

5,478‌

FW2783990.UP.FTS.B,

28.98%,

3/14/27

..

3,500‌

3,517‌

L2789066.UP.FTS.B,

28.98%,

3/14/27

....

4,201‌

4,163‌

FW2785435.UP.FTS.B,

28.99%,

3/14/27

..

17,500‌

17,587‌

FW2789827.UP.FTS.B,

29.03%,

3/14/27

..

3,500‌

3,520‌

FW2789128.UP.FTS.B,

29.06%,

3/14/27

..

11,900‌

11,968‌

FW2781279.UP.FTS.B,

29.08%,

3/14/27

..

3,300‌

3,319‌

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW2784282.UP.FTS.B,

29.08%,

3/14/27

..

$

7,500‌

$

7,470‌

FW2780789.UP.FTS.B,

29.09%,

3/14/27

..

1,500‌

1,494‌

FW2781080.UP.FTS.B,

29.1%,

3/14/27

...

1,700‌

1,710‌

FW2783840.UP.FTS.B,

29.11%,

3/14/27

..

19,000‌

18,923‌

FW2782994.UP.FTS.B,

29.14%,

3/14/27

..

4,000‌

4,023‌

FW2783889.UP.FTS.B,

29.18%,

3/14/27

..

4,400‌

4,425‌

FW2786022.UP.FTS.B,

29.2%,

3/14/27

...

5,500‌

5,478‌

FW2779355.UP.FTS.B,

29.22%,

3/14/27

..

5,800‌

5,777‌

FW2781786.UP.FTS.B,

29.22%,

3/14/27

..

1,900‌

1,911‌

FW2789307.UP.FTS.B,

29.22%,

3/14/27

..

2,423‌

2,410‌

FW2784027.UP.FTS.B,

29.23%,

3/14/27

..

15,300‌

15,238‌

FW2790629.UP.FTS.B,

29.24%,

3/14/27

..

1,600‌

1,609‌

FW2781563.UP.FTS.B,

29.25%,

3/14/27

..

1,000‌

1,006‌

FW2783263.UP.FTS.B,

29.25%,

3/14/27

..

9,300‌

9,353‌

FW2779918.UP.FTS.B,

29.26%,

3/14/27

..

7,000‌

6,972‌

FW2780483.UP.FTS.B,

29.28%,

3/14/27

..

5,000‌

5,029‌

FW2785470.UP.FTS.B,

29.28%,

3/14/27

..

9,200‌

9,253‌

FW2781164.UP.FTS.B,

29.32%,

3/14/27

..

15,000‌

15,086‌

FW2781011.UP.FTS.B,

29.33%,

3/14/27

..

10,300‌

10,359‌

FW2787118.UP.FTS.B,

29.41%,

3/14/27

..

2,900‌

2,917‌

FW2785953.UP.FTS.B,

29.44%,

3/14/27

..

10,514‌

10,458‌

FW2779974.UP.FTS.B,

29.47%,

3/14/27

..

3,900‌

3,884‌

FW2787970.UP.FTS.B,

29.51%,

3/14/27

..

5,400‌

5,431‌

FW2781629.UP.FTS.B,

29.52%,

3/14/27

..

10,000‌

10,057‌

FW2788427.UP.FTS.B,

29.53%,

3/14/27

..

7,000‌

6,972‌

FW2779230.UP.FTS.B,

29.54%,

3/14/27

..

10,000‌

9,960‌

FW2785583.UP.FTS.B,

29.56%,

3/14/27

..

2,000‌

1,992‌

FW2781467.UP.FTS.B,

29.58%,

3/14/27

..

6,600‌

6,638‌

FW2785701.UP.FTS.B,

29.6%,

3/14/27

...

2,100‌

2,092‌

FW2780605.UP.FTS.B,

29.61%,

3/14/27

..

1,000‌

996‌

FW2786457.UP.FTS.B,

29.64%,

3/14/27

..

5,000‌

4,980‌

FW2788463.UP.FTS.B,

29.68%,

3/14/27

..

3,300‌

3,319‌

FW2788443.UP.FTS.B,

29.76%,

3/14/27

..

2,000‌

1,992‌

FW2784031.UP.FTS.B,

29.77%,

3/14/27

..

9,200‌

9,253‌

FW2773545.UP.FTS.B,

29.8%,

3/14/27

...

2,334‌

2,322‌

FW2785457.UP.FTS.B,

29.81%,

3/14/27

..

4,200‌

4,224‌

FW2782660.UP.FTS.B,

29.88%,

3/14/27

..

1,100‌

1,096‌

FW2783287.UP.FTS.B,

29.91%,

3/14/27

..

5,000‌

5,029‌

FW2784527.UP.FTS.B,

29.93%,

3/14/27

..

10,000‌

10,058‌

FW2782094.UP.FTS.B,

29.97%,

3/14/27

..

10,000‌

9,960‌

FW2783229.UP.FTS.B,

29.98%,

3/14/27

..

12,000‌

12,069‌

FW2784677.UP.FTS.B,

29.98%,

3/14/27

..

1,000‌

1,006‌

FW2786432.UP.FTS.B,

29.98%,

3/14/27

..

6,000‌

5,976‌

FW2789655.UP.FTS.B,

29.98%,

3/14/27

..

15,000‌

15,086‌

FW2781346.UP.FTS.B,

30.01%,

3/14/27

..

17,000‌

16,932‌

FW2782160.UP.FTS.B,

30.01%,

3/14/27

..

1,100‌

1,106‌

FW2783917.UP.FTS.B,

30.04%,

3/14/27

..

2,200‌

2,211‌

FW2788528.UP.FTS.B,

30.04%,

3/14/27

..

20,000‌

19,920‌

FW2784122.UP.FTS.B,

30.05%,

3/14/27

..

5,100‌

5,129‌

FW2789631.UP.FTS.B,

30.08%,

3/14/27

..

4,600‌

4,582‌

FW2788067.UP.FTS.B,

30.09%,

3/14/27

..

6,200‌

6,236‌

FW2779755.UP.FTS.B,

30.1%,

3/14/27

...

1,000‌

996‌

FW2779811.UP.FTS.B,

30.11%,

3/14/27

..

2,000‌

2,012‌

FW2784330.UP.FTS.B,

30.11%,

3/14/27

..

1,000‌

1,006‌

FW2787874.UP.FTS.B,

30.13%,

3/14/27

..

1,100‌

1,096‌

FW2788950.UP.FTS.B,

30.14%,

3/14/27

..

11,900‌

11,853‌

FW2781683.UP.FTS.B,

30.16%,

3/14/27

..

4,400‌

4,382‌

FW2787766.UP.FTS.B,

30.16%,

3/14/27

..

5,500‌

5,478‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

109

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

FW2784092.UP.FTS.B,

30.18%,

3/14/27

..

$

2,500‌

$

2,514‌

FW2780369.UP.FTS.B,

30.19%,

3/14/27

..

2,000‌

1,992‌

FW2788570.UP.FTS.B,

30.2%,

3/14/27

...

8,300‌

8,267‌

FW2784272.UP.FTS.B,

30.21%,

3/14/27

..

45,300‌

45,119‌

FW2782050.UP.FTS.B,

30.24%,

3/14/27

..

25,000‌

25,144‌

FW2781612.UP.FTS.B,

30.26%,

3/14/27

..

1,100‌

1,106‌

FW2785476.UP.FTS.B,

30.26%,

3/14/27

..

6,500‌

6,474‌

FW2750613.UP.FTS.B,

30.29%,

3/14/27

..

1,000‌

1,006‌

FW2789447.UP.FTS.B,

30.29%,

3/14/27

..

3,300‌

3,287‌

FW2786136.UP.FTS.B,

30.3%,

3/14/27

...

4,500‌

4,526‌

FW2786929.UP.FTS.B,

30.3%,

3/14/27

...

10,000‌

10,058‌

FW2781150.UP.FTS.B,

30.31%,

3/14/27

..

3,100‌

3,088‌

FW2782935.UP.FTS.B,

30.31%,

3/14/27

..

8,000‌

7,968‌

FW2785389.UP.FTS.B,

30.36%,

3/14/27

..

4,500‌

4,482‌

FW2790079.UP.FTS.B,

30.37%,

3/14/27

..

6,000‌

6,035‌

FW2785341.UP.FTS.B,

30.39%,

3/14/27

..

1,100‌

1,106‌

FW2782539.UP.FTS.B,

30.4%,

3/14/27

...

25,000‌

24,901‌

FW2783523.UP.FTS.B,

30.41%,

3/14/27

..

5,200‌

5,230‌

FW2781702.UP.FTS.B,

30.46%,

3/14/27

..

5,900‌

5,934‌

FW2790017.UP.FTS.B,

30.46%,

3/14/27

..

1,800‌

1,793‌

FW2781023.UP.FTS.B,

30.48%,

3/14/27

..

10,500‌

10,458‌

FW2790314.UP.FTS.B,

30.48%,

3/14/27

..

10,600‌

10,558‌

FW2788285.UP.FTS.B,

30.5%,

3/14/27

...

2,700‌

2,716‌

FW2780158.UP.FTS.B,

30.52%,

3/14/27

..

1,800‌

1,810‌

FW2781177.UP.FTS.B,

30.53%,

3/14/27

..

6,000‌

6,035‌

FW2780987.UP.FTS.B,

30.55%,

3/14/27

..

1,100‌

1,106‌

FW2781915.UP.FTS.B,

30.55%,

3/14/27

..

1,000‌

1,006‌

FW2782697.UP.FTS.B,

30.56%,

3/14/27

..

12,800‌

12,874‌

FW2782768.UP.FTS.B,

30.56%,

3/14/27

..

35,000‌

34,928‌

FW2786530.UP.FTS.B,

30.56%,

3/14/27

..

3,000‌

3,017‌

FW2780499.UP.FTS.B,

30.57%,

3/14/27

..

1,700‌

1,693‌

FW2789619.UP.FTS.B,

30.58%,

3/14/27

..

1,600‌

1,594‌

FW2781411.UP.FTS.B,

30.59%,

3/14/27

..

1,000‌

996‌

FW2786059.UP.FTS.B,

30.59%,

3/14/27

..

1,300‌

1,308‌

FW2789370.UP.FTS.B,

30.6%,

3/14/27

...

4,500‌

4,526‌

FW2781547.UP.FTS.B,

30.61%,

3/14/27

..

1,000‌

996‌

FW2785934.UP.FTS.B,

30.61%,

3/14/27

..

18,300‌

18,227‌

FW2781544.UP.FTS.B,

30.63%,

3/14/27

..

7,000‌

7,040‌

FW2781204.UP.FTS.B,

30.65%,

3/14/27

..

5,000‌

4,980‌

FW2789252.UP.FTS.B,

30.65%,

3/14/27

..

20,000‌

19,921‌

FW2785351.UP.FTS.B,

30.67%,

3/14/27

..

1,600‌

1,594‌

FW2780044.UP.FTS.B,

30.68%,

3/14/27

..

1,000‌

1,006‌

FW2780952.UP.FTS.B,

30.68%,

3/14/27

..

1,000‌

1,006‌

FW2783503.UP.FTS.B,

30.68%,

3/14/27

..

1,300‌

1,308‌

FW2785651.UP.FTS.B,

30.68%,

3/14/27

..

1,900‌

1,892‌

FW2787603.UP.FTS.B,

30.68%,

3/14/27

..

1,100‌

1,096‌

FW2781585.UP.FTS.B,

30.69%,

3/14/27

..

1,200‌

1,195‌

FW2784325.UP.FTS.B,

30.69%,

3/14/27

..

1,300‌

1,308‌

FW2785631.UP.FTS.B,

30.69%,

3/14/27

..

2,000‌

1,992‌

FW2788282.UP.FTS.B,

30.69%,

3/14/27

..

8,600‌

8,566‌

FW2781758.UP.FTS.B,

30.71%,

3/14/27

..

4,100‌

4,084‌

FW2787729.UP.FTS.B,

30.71%,

3/14/27

..

4,000‌

4,023‌

FW2790266.UP.FTS.B,

30.72%,

3/14/27

..

1,000‌

996‌

FW2783504.UP.FTS.B,

30.73%,

3/14/27

..

3,400‌

3,420‌

FW2783723.UP.FTS.B,

30.73%,

3/14/27

..

5,400‌

5,379‌

FW2785448.UP.FTS.B,

30.73%,

3/14/27

..

3,800‌

3,785‌

FW2786209.UP.FTS.B,

30.73%,

3/14/27

..

1,400‌

1,408‌

FW2782687.UP.FTS.B,

30.74%,

3/14/27

..

2,000‌

1,992‌

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW2790096.UP.FTS.B,

30.76%,

3/14/27

..

$

1,800‌

$

1,793‌

FW2782610.UP.FTS.B,

30.77%,

3/14/27

..

1,000‌

996‌

FW2785573.UP.FTS.B,

30.77%,

3/14/27

..

1,500‌

1,509‌

FW2779142.UP.FTS.B,

30.78%,

3/14/27

..

4,600‌

4,582‌

FW2783660.UP.FTS.B,

30.79%,

3/14/27

..

2,600‌

2,590‌

FW2789302.UP.FTS.B,

30.79%,

3/14/27

..

6,000‌

6,035‌

FW2784402.UP.FTS.B,

30.8%,

3/14/27

...

4,100‌

4,084‌

FW2780019.UP.FTS.B,

30.81%,

3/14/27

..

1,400‌

1,394‌

FW2780875.UP.FTS.B,

30.81%,

3/14/27

..

2,700‌

2,716‌

FW2781304.UP.FTS.B,

30.82%,

3/14/27

..

1,100‌

1,096‌

FW2785523.UP.FTS.B,

30.83%,

3/14/27

..

3,800‌

3,785‌

FW2785601.UP.FTS.B,

30.83%,

3/14/27

..

2,200‌

2,213‌

FW2779868.UP.FTS.B,

30.84%,

3/14/27

..

1,500‌

1,496‌

FW2784190.UP.FTS.B,

30.84%,

3/14/27

..

1,700‌

1,693‌

FW2782723.UP.FTS.B,

30.86%,

3/14/27

..

1,000‌

996‌

FW2780405.UP.FTS.B,

30.87%,

3/14/27

..

1,600‌

1,594‌

FW2781128.UP.FTS.B,

30.87%,

3/14/27

..

2,200‌

2,191‌

FW2781941.UP.FTS.B,

30.87%,

3/14/27

..

1,800‌

1,810‌

FW2786761.UP.FTS.B,

30.87%,

3/14/27

..

2,300‌

2,291‌

FW2779806.UP.FTS.B,

30.88%,

3/14/27

..

1,100‌

1,096‌

FW2783995.UP.FTS.B,

30.88%,

3/14/27

..

3,500‌

3,486‌

FW2782574.UP.FTS.B,

30.89%,

3/14/27

..

10,000‌

9,961‌

FW2789947.UP.FTS.B,

30.89%,

3/14/27

..

4,300‌

4,325‌

FW2783449.UP.FTS.B,

30.9%,

3/14/27

...

1,300‌

1,308‌

FW2790078.UP.FTS.B,

30.9%,

3/14/27

...

2,800‌

2,789‌

FW2777774.UP.FTS.B,

30.91%,

3/14/27

..

1,300‌

1,307‌

FW2785606.UP.FTS.B,

30.91%,

3/14/27

..

3,700‌

3,685‌

FW2788878.UP.FTS.B,

30.91%,

3/14/27

..

3,000‌

3,017‌

FW2783182.UP.FTS.B,

30.92%,

3/14/27

..

1,200‌

1,195‌

FW2784494.UP.FTS.B,

30.92%,

3/14/27

..

1,700‌

1,693‌

FW2776819.UP.FTS.B,

30.93%,

3/14/27

..

1,600‌

1,594‌

FW2779765.UP.FTS.B,

30.93%,

3/14/27

..

1,700‌

1,693‌

FW2781984.UP.FTS.B,

30.93%,

3/14/27

..

4,800‌

4,781‌

FW2783458.UP.FTS.B,

30.93%,

3/14/27

..

1,100‌

1,096‌

FW2785617.UP.FTS.B,

30.93%,

3/14/27

..

10,800‌

10,862‌

FW2790293.UP.FTS.B,

30.94%,

3/14/27

..

2,700‌

2,716‌

FW2783246.UP.FTS.B,

30.95%,

3/14/27

..

1,500‌

1,494‌

FW2784380.UP.FTS.B,

30.95%,

3/14/27

..

1,100‌

1,096‌

FW2784743.UP.FTS.B,

30.95%,

3/14/27

..

2,200‌

2,191‌

FW2782215.UP.FTS.B,

30.96%,

3/14/27

..

1,400‌

1,408‌

FW2788830.UP.FTS.B,

30.96%,

3/14/27

..

1,200‌

1,207‌

FW2789203.UP.FTS.B,

30.96%,

3/14/27

..

3,300‌

3,287‌

FW2782248.UP.FTS.B,

30.97%,

3/14/27

..

2,800‌

2,816‌

FW2782268.UP.FTS.B,

30.97%,

3/14/27

..

1,300‌

1,295‌

FW2785963.UP.FTS.B,

30.97%,

3/14/27

..

11,500‌

11,566‌

FW2786330.UP.FTS.B,

30.97%,

3/14/27

..

19,200‌

19,124‌

FW2783531.UP.FTS.B,

30.98%,

3/14/27

..

10,300‌

10,359‌

FW2783734.UP.FTS.B,

30.98%,

3/14/27

..

2,200‌

2,191‌

FW2784675.UP.FTS.B,

30.98%,

3/14/27

..

2,100‌

2,112‌

FW2785442.UP.FTS.B,

30.98%,

3/14/27

..

1,200‌

1,195‌

FW2786195.UP.FTS.B,

30.98%,

3/14/27

..

1,200‌

1,195‌

FW2782332.UP.FTS.B,

30.99%,

3/14/27

..

1,700‌

1,693‌

FW2783682.UP.FTS.B,

30.99%,

3/14/27

..

2,500‌

2,514‌

FW2784273.UP.FTS.B,

30.99%,

3/14/27

..

1,500‌

1,494‌

FW2786399.UP.FTS.B,

30.99%,

3/14/27

..

6,000‌

6,035‌

FW2786754.UP.FTS.B,

30.99%,

3/14/27

..

1,700‌

1,693‌

FW2779939.UP.FTS.B,

31%,

3/14/27

....

1,100‌

1,096‌

FW2786816.UP.FTS.B,

31.01%,

3/14/27

..

1,300‌

1,295‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

Quarterly

Schedule

of

Investments

See

Notes

to

Schedule

of

Investments.

110

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

FW2782698.UP.FTS.B,

31.02%,

3/14/27

..

$

3,700‌

$

3,685‌

FW2782277.UP.FTS.B,

31.03%,

3/14/27

..

3,600‌

3,621‌

FW2783509.UP.FTS.B,

31.03%,

3/14/27

..

6,000‌

5,976‌

FW2784679.UP.FTS.B,

31.03%,

3/14/27

..

2,400‌

2,391‌

FW2779835.UP.FTS.B,

31.04%,

3/14/27

..

6,700‌

6,739‌

FW2782641.UP.FTS.B,

31.04%,

3/14/27

..

2,100‌

2,112‌

FW2782870.UP.FTS.B,

31.04%,

3/14/27

..

1,400‌

1,408‌

FW2787185.UP.FTS.B,

31.04%,

3/14/27

..

2,600‌

2,590‌

FW2787376.UP.FTS.B,

31.04%,

3/14/27

..

2,700‌

2,689‌

FW2783607.UP.FTS.B,

31.05%,

3/14/27

..

9,400‌

9,454‌

FW2787448.UP.FTS.B,

31.05%,

3/14/27

..

1,300‌

1,308‌

FW2784370.UP.FTS.B,

31.06%,

3/14/27

..

9,400‌

9,363‌

FW2786202.UP.FTS.B,

31.06%,

3/14/27

..

6,000‌

5,976‌

FW2789056.UP.FTS.B,

31.06%,

3/14/27

..

1,000‌

996‌

FW2779985.UP.FTS.B,

31.07%,

3/14/27

..

1,500‌

1,509‌

FW2784196.UP.FTS.B,

31.07%,

3/14/27

..

5,400‌

5,379‌

FW2786026.UP.FTS.B,

31.07%,

3/14/27

..

14,000‌

14,081‌

FW2790081.UP.FTS.B,

31.07%,

3/14/27

..

1,300‌

1,295‌

FW2782355.UP.FTS.B,

31.08%,

3/14/27

..

2,000‌

1,992‌

FW2784742.UP.FTS.B,

31.08%,

3/14/27

..

1,800‌

1,793‌

FW2785866.UP.FTS.B,

31.08%,

3/14/27

..

1,200‌

1,207‌

FW2787208.UP.FTS.B,

31.08%,

3/14/27

..

1,071‌

1,066‌

FW2788599.UP.FTS.B,

31.08%,

3/14/27

..

2,500‌

2,490‌

FW2787532.UP.FTS.B,

31.09%,

3/14/27

..

1,100‌

1,096‌

FW2787582.UP.FTS.B,

31.09%,

3/14/27

..

1,700‌

1,693‌

FW2787940.UP.FTS.B,

31.09%,

3/14/27

..

8,000‌

7,968‌

FW2788471.UP.FTS.B,

31.09%,

3/14/27

..

2,700‌

2,716‌

FW2788577.UP.FTS.B,

31.09%,

3/14/27

..

2,200‌

2,213‌

FW2780732.UP.FTS.B,

31.1%,

3/14/27

...

2,900‌

2,889‌

FW2781625.UP.FTS.B,

31.1%,

3/14/27

...

2,400‌

2,391‌

FW2788870.UP.FTS.B,

31.1%,

3/14/27

...

6,000‌

5,976‌

FW2785064.UP.FTS.B,

31.11%,

3/14/27

..

1,200‌

1,195‌

FW2785188.UP.FTS.B,

31.11%,

3/14/27

..

6,012‌

5,980‌

FW2781136.UP.FTS.B,

31.12%,

3/14/27

..

3,800‌

3,785‌

FW2786131.UP.FTS.B,

31.12%,

3/14/27

..

2,300‌

2,313‌

FW2789294.UP.FTS.B,

31.12%,

3/14/27

..

4,600‌

4,627‌

FW2784127.UP.FTS.B,

31.13%,

3/14/27

..

3,500‌

3,486‌

FW2781681.UP.FTS.B,

31.14%,

3/14/27

..

1,300‌

1,295‌

FW2781707.UP.FTS.B,

31.14%,

3/14/27

..

8,100‌

8,147‌

FW2786543.UP.FTS.B,

31.14%,

3/14/27

..

1,400‌

1,394‌

FW2787239.UP.FTS.B,

31.14%,

3/14/27

..

4,600‌

4,627‌

FW2788705.UP.FTS.B,

31.14%,

3/14/27

..

4,400‌

4,425‌

FW2780167.UP.FTS.B,

31.15%,

3/14/27

..

4,600‌

4,582‌

FW2781895.UP.FTS.B,

31.15%,

3/14/27

..

1,900‌

1,911‌

FW2782102.UP.FTS.B,

31.15%,

3/14/27

..

1,300‌

1,308‌

FW2782284.UP.FTS.B,

31.15%,

3/14/27

..

4,500‌

4,526‌

FW2784762.UP.FTS.B,

31.15%,

3/14/27

..

2,100‌

2,112‌

FW2786173.UP.FTS.B,

31.15%,

3/14/27

..

10,600‌

10,661‌

FW2787162.UP.FTS.B,

31.15%,

3/14/27

..

3,400‌

3,387‌

FW2780763.UP.FTS.B,

31.16%,

3/14/27

..

1,800‌

1,793‌

FW2782887.UP.FTS.B,

31.16%,

3/14/27

..

7,000‌

6,972‌

FW2786834.UP.FTS.B,

31.16%,

3/14/27

..

4,900‌

4,881‌

FW2787568.UP.FTS.B,

31.16%,

3/14/27

..

1,000‌

996‌

FW2789262.UP.FTS.B,

31.16%,

3/14/27

..

2,400‌

2,414‌

FW2780136.UP.FTS.B,

31.17%,

3/14/27

..

1,800‌

1,810‌

FW2781751.UP.FTS.B,

31.17%,

3/14/27

..

1,500‌

1,494‌

FW2782287.UP.FTS.B,

31.17%,

3/14/27

..

2,200‌

2,213‌

FW2784788.UP.FTS.B,

31.17%,

3/14/27

..

7,300‌

7,271‌

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

FW2789715.UP.FTS.B,

31.18%,

3/14/27

..

$

2,100‌

$

2,092‌

FW2782023.UP.FTS.B,

31.19%,

3/14/27

..

2,300‌

2,291‌

FW2782700.UP.FTS.B,

31.19%,

3/14/27

..

5,700‌

5,678‌

FW2784015.UP.FTS.B,

31.19%,

3/14/27

..

2,200‌

2,213‌

FW2787099.UP.FTS.B,

31.19%,

3/14/27

..

1,300‌

1,308‌

FW2784384.UP.FTS.B,

31.2%,

3/14/27

...

2,200‌

2,191‌

FW2788027.UP.FTS.B,

31.2%,

3/14/27

...

6,500‌

6,538‌

FW2788159.UP.FTS.B,

31.2%,

3/14/27

...

1,000‌

1,006‌

FW2778535.UP.FTS.B,

31.21%,

3/14/27

..

14,200‌

14,144‌

FW2781520.UP.FTS.B,

31.21%,

3/14/27

..

13,800‌

13,880‌

FW2785357.UP.FTS.B,

31.21%,

3/14/27

..

3,200‌

3,187‌

FW2787102.UP.FTS.B,

31.21%,

3/14/27

..

4,800‌

4,828‌

FW2788875.UP.FTS.B,

31.21%,

3/14/27

..

12,600‌

12,550‌

FW2781077.UP.FTS.B,

31.22%,

3/14/27

..

1,100‌

1,096‌

FW2783800.UP.FTS.B,

31.22%,

3/14/27

..

6,200‌

6,176‌

FW2785998.UP.FTS.B,

31.22%,

3/14/27

..

2,700‌

2,689‌

FW2786205.UP.FTS.B,

31.22%,

3/14/27

..

12,100‌

12,052‌

FW2774568.UP.FTS.B,

31.23%,

3/14/27

..

1,000‌

996‌

FW2783270.UP.FTS.B,

31.23%,

3/14/27

..

19,900‌

20,015‌

FW2783557.UP.FTS.B,

31.23%,

3/14/27

..

3,800‌

3,785‌

FW2781391.UP.FTS.B,

31.24%,

3/14/27

..

8,700‌

8,750‌

FW2782281.UP.FTS.B,

31.24%,

3/14/27

..

3,300‌

3,319‌

FW2789907.UP.FTS.B,

31.24%,

3/14/27

..

1,600‌

1,609‌

FW2783300.UP.FTS.B,

31.25%,

3/14/27

..

2,500‌

2,490‌

FW2785509.UP.FTS.B,

31.25%,

3/14/27

..

3,500‌

3,520‌

FW2785558.UP.FTS.B,

31.27%,

3/14/27

..

4,200‌

4,183‌

FW2780726.UP.FTS.B,

31.3%,

3/14/27

...

3,400‌

3,387‌

FW2787027.UP.FTS.B,

31.3%,

3/14/27

...

8,800‌

8,765‌

FW2780853.UP.FTS.B,

31.33%,

3/14/27

..

4,500‌

4,526‌

FW2784357.UP.FTS.B,

31.34%,

3/14/27

..

5,100‌

5,080‌

FW2786526.UP.FTS.B,

31.34%,

3/14/27

..

6,400‌

6,375‌

FW2779996.UP.FTS.B,

31.38%,

3/14/27

..

3,500‌

3,520‌

FW2783347.UP.FTS.B,

31.39%,

3/14/27

..

5,400‌

5,431‌

FW2785600.UP.FTS.B,

31.41%,

3/14/27

..

1,800‌

1,810‌

FW2781778.UP.FTS.B,

31.45%,

3/14/27

..

3,800‌

3,785‌

FW2784473.UP.FTS.B,

31.45%,

3/14/27

..

2,700‌

2,716‌

FW2781466.UP.FTS.B,

31.46%,

3/14/27

..

1,700‌

1,693‌

FW2787620.UP.FTS.B,

31.48%,

3/14/27

..

17,100‌

17,033‌

FW2781450.UP.FTS.B,

31.49%,

3/14/27

..

23,400‌

23,517‌

FW2785379.UP.FTS.B,

31.49%,

3/14/27

..

28,200‌

28,363‌

FW2784706.UP.FTS.B,

31.51%,

3/14/27

..

4,900‌

4,928‌

FW2780027.UP.FTS.B,

31.52%,

3/14/27

..

3,000‌

3,017‌

FW2789405.UP.FTS.B,

31.54%,

3/14/27

..

4,800‌

4,781‌

FW2786404.UP.FTS.B,

31.55%,

3/14/27

..

14,700‌

14,785‌

FW2789305.UP.FTS.B,

31.55%,

3/14/27

..

5,100‌

5,130‌

FW2788279.UP.FTS.B,

31.69%,

3/14/27

..

5,000‌

4,980‌

FW2780410.UP.FTS.B,

31.7%,

3/14/27

...

6,100‌

6,076‌

FW2780093.UP.FTS.B,

31.72%,

3/14/27

..

2,600‌

2,615‌

FW2778405.UP.FTS.B,

31.73%,

3/14/27

..

6,700‌

6,739‌

FW2781284.UP.FTS.B,

31.75%,

3/14/27

..

3,400‌

3,420‌

FW2789976.UP.FTS.B,

31.77%,

3/14/27

..

45,300‌

45,494‌

FW2781775.UP.FTS.B,

31.79%,

3/14/27

..

5,700‌

5,678‌

FW2788640.UP.FTS.B,

31.79%,

3/14/27

..

8,500‌

8,549‌

FW2785751.UP.FTS.B,

31.86%,

3/14/27

..

2,000‌

1,992‌

FW2780155.UP.FTS.B,

31.91%,

3/14/27

..

2,500‌

2,514‌

FW2789903.UP.FTS.B,

31.92%,

3/14/27

..

4,900‌

4,928‌

FW2783916.UP.FTS.B,

31.93%,

3/14/27

..

3,400‌

3,387‌

FW2784840.UP.FTS.B,

31.93%,

3/14/27

..

2,900‌

2,917‌

Franklin

Limited

Duration

Income

Trust

Schedule

of

Investments

(unaudited)

See

Notes

to

Schedule

of

Investments.

Quarterly

Schedule

of

Investments

111

Description

Principal

Amount

Value

Marketplace

Loans

(continued)

Upstart

Network,

Inc.

(continued)

FW2779306.UP.FTS.B,

31.94%,

3/14/27

..

$

8,000‌

$

8,046‌

FW2781517.UP.FTS.B,

32.03%,

3/14/27

..

8,500‌

8,467‌

FW2784397.UP.FTS.B,

32.06%,

3/14/27

..

3,500‌

3,486‌

FW2784038.UP.FTS.B,

32.17%,

3/14/27

..

28,200‌

28,363‌

FW2781715.UP.FTS.B,

32.21%,

3/14/27

..

5,800‌

5,778‌

FW2790669.UP.FTS.B,

32.4%,

3/14/27

...

5,300‌

5,331‌

FW2781161.UP.FTS.B,

32.42%,

3/14/27

..

6,700‌

6,674‌

FW2783372.UP.FTS.B,

32.46%,

3/14/27

..

6,800‌

6,839‌

FW2785590.UP.FTS.B,

32.55%,

3/14/27

..

8,800‌

8,766‌

FW2783748.UP.FTS.B,

32.56%,

3/14/27

..

1,200‌

1,207‌

FW2784418.UP.FTS.B,

32.72%,

3/14/27

..

6,000‌

5,977‌

FW2784631.UP.FTS.B,

32.84%,

3/14/27

..

1,500‌

1,494‌

FW2782812.UP.FTS.B,

32.88%,

3/14/27

..

11,700‌

11,768‌

FW2788557.UP.FTS.B,

32.99%,

3/14/27

..

1,200‌

1,207‌

FW2780086.UP.FTS.B,

33.32%,

3/14/27

..

2,700‌

2,690‌

FW2783388.UP.FTS.B,

33.44%,

3/14/27

..

1,700‌

1,710‌

FW2781428.UP.FTS.B,

33.63%,

3/14/27

..

2,000‌

2,012‌

FW2780379.UP.FTS.B,

33.82%,

3/14/27

..

3,000‌

2,989‌

FW2783160.UP.FTS.B,

34.17%,

3/14/27

..

5,700‌

5,733‌

FW2779857.UP.FTS.B,

34.2%,

3/14/27

...

3,600‌

3,586‌

FW2780930.UP.FTS.B,

34.36%,

3/14/27

..

5,500‌

5,532‌

FW2789784.UP.FTS.B,

34.38%,

3/14/27

..

5,900‌

5,878‌

FW2789113.UP.FTS.B,

34.45%,

3/14/27

..

13,000‌

13,076‌

FW2783774.UP.FTS.B,

34.74%,

3/14/27

..

16,400‌

16,496‌

FW2780347.UP.FTS.B,

34.98%,

3/14/27

..

34,400‌

34,601‌

L1720314.UP.FTS.B,

21.63%,

9/16/28

....

22,041‌

21,891‌

L1720283.UP.FTS.B,

27.69%,

9/16/28

....

7,789‌

7,736‌

L2016976.UP.FTS.B,

17.93%,

11/10/28

...

3,411‌

3,398‌

L2018384.UP.FTS.B,

24.86%,

11/10/28

...

6,816‌

6,769‌

L2264962.UP.FTS.B,

22.17%,

12/16/28

...

3,247‌

3,239‌

L2471413.UP.FTS.B,

14.77%,

1/20/29

....

24,637‌

24,611‌

L2472212.UP.FTS.B,

16.52%,

1/20/29

....

11,343‌

11,332‌

L2474231.UP.FTS.B,

18.07%,

1/20/29

....

9,870‌

9,852‌

L2472122.UP.FTS.B,

18.59%,

1/20/29

....

4,245‌

4,238‌

L2475358.UP.FTS.B,

19.49%,

1/20/29

....

5,926‌

5,916‌

L2470272.UP.FTS.B,

21.01%,

1/20/29

....

5,929‌

5,920‌

L2471993.UP.FTS.B,

21.29%,

1/20/29

....

7,314‌

7,302‌

L2471758.UP.FTS.B,

22.48%,

1/20/29

....

4,935‌

4,917‌

L2473174.UP.FTS.B,

22.65%,

1/20/29

....

8,900‌

8,869‌

L2472655.UP.FTS.B,

23.1%,

1/20/29

....

6,923‌

6,913‌

L2472888.UP.FTS.B,

23.34%,

1/20/29

....

3,066‌

3,062‌

L2473102.UP.FTS.B,

23.59%,

1/20/29

....

5,935‌

5,909‌

L2475929.UP.FTS.B,

25.01%,

1/20/29

....

7,918‌

7,884‌

L2472044.UP.FTS.B,

25.12%,

1/20/29

....

8,023‌

7,988‌

L2474341.UP.FTS.B,

25.18%,

1/20/29

....

1,089‌

1,085‌

L2472903.UP.FTS.B,

25.78%,

1/20/29

....

1,188‌

1,183‌

L2475105.UP.FTS.B,

26.03%,

1/20/29

....

2,191‌

2,083‌

L2475341.UP.FTS.B,

26.12%,

1/20/29

....

4,257‌

4,239‌

L2474226.UP.FTS.B,

26.57%,

1/20/29

....

2,673‌

2,592‌

L2474062.UP.FTS.B,

27.02%,

1/20/29

....

8,220‌

8,185‌

L2473315.UP.FTS.B,

27.03%,

1/20/29

....

8,121‌

8,095‌

L2477875.UP.FTS.B,

11.39%,

1/21/29

....

9,837‌

9,834‌

L2480052.UP.FTS.B,

11.51%,

1/21/29

....

2,164‌

2,164‌

L2476569.UP.FTS.B,

12.1%,

1/21/29

....

10,312‌

10,308‌

L2476444.UP.FTS.B,

13.64%,

1/21/29

....

6,204‌

6,198‌

L2481459.UP.FTS.B,

19.4%,

1/21/29

....

19,720‌

19,688‌

L2478078.UP.FTS.B,

21.42%,

1/21/29

....

5,911‌

5,891‌

L2479722.UP.FTS.B,

22.71%,

1/21/29

....

5,538‌

5,530‌

Description

Principal

Amount

Value

Upstart

Network,

Inc.

(continued)

L2481336.UP.FTS.B,

23.87%,

1/21/29

....

$

2,177‌

$

2,170‌

L2478021.UP.FTS.B,

24.55%,

1/21/29

....

9,896‌

9,855‌

L2476341.UP.FTS.B,

24.59%,

1/21/29

....

4,255‌

4,242‌

L2481996.UP.FTS.B,

25.8%,

1/21/29

....

1,485‌

1,483‌

L2478711.UP.FTS.B,

26.03%,

1/21/29

....

4,554‌

4,536‌

L2476521.UP.FTS.B,

26.04%,

1/21/29

....

988‌

984‌

L2477148.UP.FTS.B,

26.32%,

1/21/29

....

3,465‌

3,455‌

L2482022.UP.FTS.B,

26.34%,

1/21/29

....

3,664‌

3,653‌

L2476272.UP.FTS.B,

26.5%,

1/21/29

....

2,391‌

2,273‌

L2478671.UP.FTS.B,

26.52%,

1/21/29

....

4,060‌

4,044‌

L2477377.UP.FTS.B,

26.53%,

1/21/29

....

4,732‌

4,712‌

L2476782.UP.FTS.B,

26.59%,

1/21/29

....

2,476‌

2,468‌

L2481172.UP.FTS.B,

26.93%,

1/21/29

....

2,575‌

2,565‌

L2481405.UP.FTS.B,

27.17%,

1/21/29

....

5,455‌

5,439‌

L2478383.UP.FTS.B,

27.48%,

1/21/29

....

2,575‌

2,568‌

L2780235.UP.FTS.B,

24.51%,

3/14/29

....

15,000‌

14,959‌

L2782783.UP.FTS.B,

25.4%,

3/14/29

....

2,500‌

2,495‌

L2781690.UP.FTS.B,

25.59%,

3/14/29

....

8,700‌

8,677‌

L2784369.UP.FTS.B,

25.66%,

3/14/29

....

1,800‌

1,799‌

L2783362.UP.FTS.B,

25.93%,

3/14/29

....

1,600‌

1,597‌

L2781012.UP.FTS.B,

26.33%,

3/14/29

....

7,700‌

7,680‌

L2781565.UP.FTS.B,

27%,

3/14/29

......

2,600‌

2,613‌

34,676,397‌

Total

Marketplace

Loans

(Cost

$73,305,230)

....

$72,130,513‌

Franklin

Limited

Duration

Income

Trust

Notes

to

Schedule

of

Investments

(unaudited)

112

Quarterly

Schedule

of

Investments

1.

Organization

Franklin

Limited

Duration

Income

Trust (Fund)

is

registered

under

the

Investment

Company

Act

of

1940

(1940

Act)

as

a

closed-end

management

investment

company

and

applies

the

specialized

accounting

and

reporting

guidance

in

U.S.

Generally

Accepted

Accounting

Principles

(U.S.

GAAP). 

2. Financial

Instrument

Valuation

The

Fund's investments

in

financial

instruments

are

carried

at

fair

value

daily.

Fair

value

is

the

price

that

would

be

received

to

sell

an

asset

or

paid

to

transfer

a

liability

in

an

orderly

transaction

between

market

participants

on

the

measurement

date.

The

Fund

calculates the

net

asset

value

(NAV)

per

share

each

business

day

as

of

4

p.m.

Eastern

time

or

the

regularly

scheduled

close

of

the

New

York

Stock

Exchange

(NYSE),

whichever

is

earlier. Under

compliance

policies

and

procedures

approved

by

the

Fund’s

Board

of

Trustees

(the

Board),

the

Fund’s

administrator

has

responsibility

for

oversight

of

valuation,

including

leading

the

cross-functional

Valuation

Committee

(VC).

The

Fund

may

utilize

independent

pricing

services,

quotations

from

securities

and

financial

instrument

dealers,

and

other

market

sources

to

determine

fair

value. 

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.

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.

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

Franklin

Limited

Duration

Income

Trust

Notes

to

Schedule

of

Investments

(unaudited)

113

Quarterly

Schedule

of

Investments

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.

Mortgage

Dollar

Rolls 

The

Fund

enters

into

mortgage

dollar

rolls,

typically

on

a

to-be-announced

basis.

Mortgage

dollar

rolls

are

agreements

between

the

Fund

and

a

financial

institution

where

the

Fund

sells

(or

buys)

mortgage-backed

securities

for

delivery

on

a

specified

date

and

simultaneously

contracts

to

repurchase

(or

sell)

substantially

similar

(same

type,

coupon,

and

maturity)

securities

at

a

future

date

and

at

a

predetermined

price.

Gains

or

losses

are

realized

on

the

initial

sale,

and

the

difference

between

the

repurchase

price

and

the

sale

price

is

recorded

as

an

unrealized

gain

or

loss

to

the

Fund

upon

entering

into

the

mortgage

dollar

roll.

In

addition,

the

Fund

may

invest

the

cash

proceeds

that

are

received

from

the

initial

sale.

During

the

period

between

the

sale

and

repurchase,

the

Fund

is

not

entitled

to

principal

and

interest

paid

on

the

mortgage

backed

securities.

Transactions

in

mortgage

dollar

rolls

are

accounted

for

as

purchases

and

sales

and

may

result

in

an

increase

to

the

Fund’s

portfolio

turnover

rate.

The

risks

of

mortgage

dollar

roll

transactions

include

the

potential

inability

of

the

counterparty

to

fulfill

its

obligations.

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. Restricted

Securities 

At

March

31,

2022,

investments

in

restricted

securities,

excluding

securities

exempt

from

registration

under

the

Securities

Act

of

1933,

were

as

follows:

6.

Unfunded

Loan

Commitments  

The

Fund

enters

into

certain

credit

agreements,

all

or

a

portion

of

which

may

be

unfunded.

The

Fund

is

obligated

to

fund

these

loan

commitments

at

the

borrowers’

discretion.

Unfunded

loan

commitments

and

funded

portions

of

credit

agreements

are

marked

to

market

daily.

Funded

portions

of

credit

agreements

are

presented

in

the

Schedule

of

Investments.

Shares

Issuer

Acquisition

Date

Cost

Value

Franklin

Limited

Duration

Income

Trust

2,334,763

Nine

Point

Energy

Holdings,

Inc.

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

7/15/14

-

1/22/21

$

1,208,234

$

—

6,305

Riviera

Resources,

Inc

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

8/08/18

93,944

—

Total

Restricted

Securities

(Value

is

—%

of

Net

Assets)

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

$1,302,178

$—

2. Financial

Instrument

Valuation

(continued)

Franklin

Limited

Duration

Income

Trust

Notes

to

Schedule

of

Investments

(unaudited)

114

Quarterly

Schedule

of

Investments

At

March

31,

2022,

unfunded

commitments

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. Reverse

Repurchase

Agreements 

The

Fund

enters

into

reverse

repurchase

agreements,

under

which

the

Fund

sells

securities

in

exchange

for

cash

to

counterparties,

with

a

simultaneous

agreement

to

repurchase

the

same

or

substantially

the

same

security

at

a

mutually

agreed-upon

date

and

price.

Such

a

transaction

is

accounted

for

as

a

secured

borrowing

by

the

Fund,

collateralized

by

securities

for

which

the

Fund

retains

possession.

Reverse

repurchase

agreements

are

subject

to

the

terms

of

Master

Repurchase

Agreements

(MRAs)

with

approved

counterparties

(buyers).

The

MRAs

contain

various

provisions,

including

but

not

limited

to

events

of

default

and

maintenance

of

collateral

for

reverse

repurchase

agreements.

In

the

event

of

default

by

either

the

buyer

or

the

Fund,

certain

MRAs

may

permit

the

non-defaulting

party

to

net

and

close-out

all

transactions,

if

any,

traded

under

such

agreements.

The

buyer

may

sell

securities

the

Fund

pledged

as

collateral

and

apply

the

proceeds

towards

the

reverse

repurchase

price

and

any

other

amounts

owed

by

the

Fund

in

the

event

of

default

by

the

Fund.

This

could

involve

costs

or

delays

in

addition

to

a

loss

on

the

securities

if

their

value

falls

below

the

reverse

repurchase

price

owed

by

the

Fund.

The

Fund

monitors

collateral

fair

value

for

the

reverse

repurchase

agreement,

including

accrued

interest,

over

the

life

of

the

agreement,

and

when

necessary,

delivers

or

receives

cash

or

securities

in

order

to

manage

credit

exposure

and

liquidity.

Borrower

Unfunded

Commitment

Franklin

Limited

Duration

Income

Trust

athenahealth

Group

Inc.

$

359,149

Aveanna

Healthcare

LLC

161,197

Dermatology

Intermediate

Holdings

III,

Inc.

36,960

Medical

Solutions

Holdings,

Inc.

61,115

Sovos

Compliance

LLC

93,471

Thrasio

LLC

344,750

$

1,056,642

    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

Limited

Duration

Income

Trust

Non-Controlled

Affiliates

Dividends

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

0.01%

.

$

8,882,237

$

96,644,618

$

(96,024,496)

$

—

$

—

$

9,502,359

9,502,359

$

370

Non-Controlled

Affiliates

Income

from

securities

loaned

Institutional

Fiduciary

Trust

-

Money

Market

Portfolio,

0.01%

.

$—

$149,000

$(149,000)

$—

$—

$—

—

$—

Total

Affiliated

Securities

...

$8,882,237

$96,793,618

$(96,173,496)

$—

$—

$9,502,359

$370

6.

Unfunded

Loan

Commitments  

(continued)

Franklin

Limited

Duration

Income

Trust

Notes

to

Schedule

of

Investments

(unaudited)

115

Quarterly

Schedule

of

Investments

The

remaining

contractual

maturity

of

the

repurchase

agreements

totaling

$31,012,654

are

up

to

30

days.

The

Fund

pledged

corporate

bonds,

asset-backed

securities,

commercial

mortgage-backed

securities

and

residential

mortgage-backed

securities

as

the

collateral

valued

at

$37,460,562

which

has

been

identified

on

the

Schedule

of

Investments.

For

the period

ended

March

31,

2022,

the

average

borrowings

and

the

average

interest

rate

were

$30,949,344

and

0.8%,

respectively.

9. Fair

Value

Measurements 

The

Fund

follows

a

fair

value

hierarchy

that

distinguishes

between

market

data

obtained

from

independent

sources

(observable

inputs)

and

the

Fund's

own

market

assumptions

(unobservable

inputs).

These

inputs

are

used

in

determining

the

value

of

the

Fund's

financial

instruments

and

are

summarized

in

the

following

fair

value

hierarchy:

•

Level

1

–

quoted

prices

in

active

markets

for

identical

financial

instruments

•

Level 2

–

other

significant

observable

inputs

(including

quoted

prices

for

similar

financial

instruments,

interest

rates,

prepayment

speed,

credit

risk,

etc.)

•

Level 3

–

significant

unobservable

inputs

(including

the

Fund's own

assumptions

in

determining

the

fair

value

of

financial

instruments)

The

input

levels

are

not

necessarily

an

indication

of

the

risk

or

liquidity

associated

with

financial

instruments

at

that

level.

A

summary

of

inputs

used

as

of

March

31,

2022,

in

valuing

the

Fund's

assets

and

liabilities

carried

at

fair

value,

is

as

follows:

8. Reverse

Repurchase

Agreements 

(continued)

Franklin

Limited

Duration

Income

Trust

Notes

to

Schedule

of

Investments

(unaudited)

116

Quarterly

Schedule

of

Investments

Level

1

Level

2

Level

3

Total

Franklin

Limited

Duration

Income

Trust

Assets:

Investments

in

Securities:

Common

Stocks

:

Hotels,

Restaurants

&

Leisure

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

$

—

$

19,773

$

—

$

19,773

Machinery

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

—

414,044

—

414,044

Metals

&

Mining

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

505,038

—

—

505,038

Oil,

Gas

&

Consumable

Fuels

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

3,424

—

—

a

3,424

Road

&

Rail

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

—

—

39,647

39,647

Preferred

Stocks

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

—

147,722

—

147,722

Warrants

:

Oil,

Gas

&

Consumable

Fuels

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

1,381

—

693

2,074

Paper

&

Forest

Products

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

—

5,116

—

5,116

Convertible

Bonds

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

—

25,865

—

25,865

Corporate

Bonds

:

Aerospace

&

Defense

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

—

1,439,018

—

1,439,018

Airlines

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

—

2,645,573

—

2,645,573

Auto

Components

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

—

4,086,415

—

4,086,415

Automobiles

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

—

1,146,438

—

1,146,438

Banks

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

—

1,522,500

—

1,522,500

Beverages

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

—

634,476

—

634,476

Biotechnology

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

—

809,037

—

809,037

Building

Products

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

—

2,218,651

—

2,218,651

Capital

Markets

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

—

284,641

—

284,641

Chemicals

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

—

7,853,282

—

7,853,282

Commercial

Services

&

Supplies

...........

—

2,639,553

—

2,639,553

Construction

&

Engineering

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

—

2,254,355

—

2,254,355

Consumer

Finance

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

—

1,586,205

—

1,586,205

Containers

&

Packaging

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

—

8,791,398

—

8,791,398

Distributors

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

—

292,986

—

292,986

Diversified

Consumer

Services

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

—

1,273,610

—

1,273,610

Diversified

Financial

Services

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

—

2,504,061

—

2,504,061

Diversified

Telecommunication

Services

.....

—

4,344,458

—

4,344,458

Electric

Utilities

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

—

1,678,906

—

1,678,906

Electrical

Equipment

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

—

2,618,505

—

2,618,505

Electronic

Equipment,

Instruments

&

Components

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

—

463,533

—

463,533

Energy

Equipment

&

Services

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

—

3,586,036

—

3,586,036

Entertainment

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

—

3,067,236

—

3,067,236

Equity

Real

Estate

Investment

Trusts

(REITs)

.

—

2,259,378

—

2,259,378

Food

Products

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

—

1,362,196

—

1,362,196

Health

Care

Equipment

&

Supplies

.........

—

1,021,658

—

1,021,658

Health

Care

Providers

&

Services

..........

—

3,808,189

—

3,808,189

Hotels,

Restaurants

&

Leisure

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

—

13,098,062

450

13,098,512

Household

Durables

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

—

2,207,754

—

2,207,754

Independent

Power

and

Renewable

Electricity

Producers

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

—

5,599,527

—

5,599,527

Insurance

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

—

1,088,670

—

1,088,670

Internet

&

Direct

Marketing

Retail

..........

—

89,600

—

89,600

IT

Services

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

—

3,194,441

—

3,194,441

Machinery

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

—

4,133,390

—

4,133,390

Media

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

—

8,087,212

—

8,087,212

Metals

&

Mining

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

—

1,817,864

—

1,817,864

Mortgage

Real

Estate

Investment

Trusts

(REITs)

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

—

909,445

—

909,445

Multiline

Retail

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

—

2,151,275

—

2,151,275

Oil,

Gas

&

Consumable

Fuels

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

—

14,861,290

—

14,861,290

Paper

&

Forest

Products

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

—

339,756

—

339,756

9. Fair

Value

Measurements 

(continued)

Franklin

Limited

Duration

Income

Trust

Notes

to

Schedule

of

Investments

(unaudited)

117

Quarterly

Schedule

of

Investments

Level

1

Level

2

Level

3

Total

Franklin

Limited

Duration

Income

Trust

(continued)

Assets:

(continued)

Investments

in

Securities:

Corporate

Bonds:

Personal

Products

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

$

—

$

765,636

$

—

$

765,636

Pharmaceuticals

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

—

7,525,898

—

7,525,898

Real

Estate

Management

&

Development

....

—

1,491,657

—

1,491,657

Road

&

Rail

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

—

1,332,457

987,060

2,319,517

Software

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

—

3,113,040

—

3,113,040

Specialty

Retail

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

—

2,915,643

—

2,915,643

Textiles,

Apparel

&

Luxury

Goods

..........

—

1,016,660

—

1,016,660

Thrifts

&

Mortgage

Finance

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

—

2,600,579

—

2,600,579

Trading

Companies

&

Distributors

..........

—

1,647,199

—

1,647,199

Wireless

Telecommunication

Services

.......

—

1,501,399

—

1,501,399

Senior

Floating

Rate

Interests

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

—

132,716,274

—

132,716,274

Marketplace

Loans

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

—

—

72,130,513

72,130,513

Asset-Backed

Securities

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

—

40,044,033

—

40,044,033

Commercial

Mortgage-Backed

Securities

......

—

3,070,517

—

3,070,517

Mortgage-Backed

Securities

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

—

45,373,404

—

45,373,404

Residential

Mortgage-Backed

Securities

......

—

2,767,905

—

2,767,905

Short

Term

Investments

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

9,502,359

—

—

9,502,359

Total

Investments

in

Securities

...........

$10,012,202

$372,265,401

$73,158,363

$455,435,966

Liabilities:

Other

Financial

Instruments:

Reverse

Repurchase

Agreements

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

$

—

$

31,008,432

$

—

$

31,008,432

Unfunded

Loan

Commitments

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

$

—

$

10,512

$

—

$

10,512

Total

Other

Financial

Instruments

.........

$—

$31,018,944

$—

$31,018,944

a

Includes

securities

determined

to

have

no

value

at

March

31,

2022.

9. Fair

Value

Measurements 

(continued)

Franklin

Limited

Duration

Income

Trust

Notes

to

Schedule

of

Investments

(unaudited)

118

Quarterly

Schedule

of

Investments

A

reconciliation

in

which

Level

3

inputs

are

used

in

determining

fair

value

is

presented

when

there

are

significant

Level

3

assets

and/or

liabilities

at

the

beginning

and/or

end

of

the

period.

At March

31,

2022,

the

reconciliation

is

as

follows:

Significant

unobservable

valuation

inputs

for

material

Level

3

assets

and/or

liabilities

and

impact

to

fair

value

as

a

result

of

changes

in

unobservable

valuation

inputs

as

of

March

31,

2022,

are

as

follows:

Balance

at

Beginning

of

Period

Purchases

a

Sales

b

Transfer

Into

Level

3

c

Transfer

Out

of

Level

3

Net

Accretion

(

Amortiza

-

tion

)

Net

Realized

Gain

(Loss)

Net

Unr

ealized

Appreciatio

n

(

Depreciation

)

Balance

at

End

of

Period

Net

Change

in

Unrealized

Appreciation

(Depreciation)

on

Assets

Held

at

Period

End

a

a

a

a

a

a

a

a

a

a

a

Franklin

Limited

Duration

Income

Trust

Assets:

Investments

in

Securities:

Common

Stocks

:

Oil,

Gas

&

Consumable

Fuels

..........

$

—

d

$

—

$

—

$

—

$

—

$

—

$

—

$

—

$

—

d

$

—

Road

&

Rail

.......

44,245

—

—

—

—

—

—

(4,598)

39,647

(4,598)

Warrants

:

Oil,

Gas

&

Consumable

Fuels

..........

2

—

—

—

—

—

—

691

693

691

Corporate

Bonds

:

Hotels,

Restaurants

&

Leisure

.........

—

—

—

450

—

—

—

—

450

—

Road

&

Rail

.......

992,593

—

—

—

—

22,185

—

(27,718)

987,060

(27,718)

Marketplace

Loans

:

Diversified

Financial

Services

........

22,972,188

53,054,473

(3,122,031)

—

—

—

(48,886)

(725,231)

72,130,513

(178,562)

Total

Investments

in

Securities

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

$24,009,028

$53,054,473

$(3,122,031)

$450

$—

$22,185

$(48,886)

$(756,856)

$73,158,363

$(210,187)

a

Purchases

include

all

purchases

of

securities

and

securities

received

in

corporate

actions.

b

Sales

include

all

sales

of

securities,

maturities,

paydowns

and

securities

tendered

in

corporate

actions.

c

Transferred

into

level

3

as

a

result

of

the

unavailability

of

a

quoted

market

price

in

an

active

market

for

identical

securities

or

as

a

result

of

the

unreliability

of

the

foreign

exchange

rate

and

other

significant

observable

valuation

inputs.

May

include

amounts

related

to

a

corporate

action.

d

Includes

securities

determined

to

have

no

value.

9. Fair

Value

Measurements 

(continued)

Franklin

Limited

Duration

Income

Trust

Notes

to

Schedule

of

Investments

(unaudited)

119

Quarterly

Schedule

of

Investments

10.

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.

Description

Fair

Value

at

End

of

Period

Valuation

Technique

Unobservable

Inputs

Amount

(Weighted

Average)

a

Impact

to

Fair

Value

if

Input

Increases

b

Franklin

Limited

Duration

Income

Trust

Assets:

Investments

in

Securities:

Corporate

Bonds:

Road

&

Rail

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

$987,060

Discounted

cash

flow

Discount

rate

15.1%

Decrease

Free

cash

flow

$1.0

mil

Increase

Marketplace

Loans:

Diversified

Financial

Services

.

71,886,677

Discounted

cash

flow

Loss-adjusted

discount

rate

2.2%

-

10.9%

(8.3%)

Decrease

c

Projected

loss

rate

13.5%

-

20.9%

(15.8%)

Decrease

c

All

Other

Investments

..........

284,626

d,e

Total

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

$73,158,363

a

Weighted

based

on

the

relative

fair

value

of

the

financial

instruments.

b

Represents

the

directional

change

in

the

fair

value

of

the

Level

3

financial

instruments

that

would

result

from

a

significant

and

reasonable

increase

in

the

corresponding

input.

A

significant

and

reasonable

decrease

in

the

input

would

have

the

opposite

effect.

Significant

impacts,

if

any,

to

fair

value

and/or

net

assets

have

been

indicated.

c

Represents

a

significant

impact

to

fair

value

and

net

assets.

d

Includes

securities

determined

to

have

no

value

at

March

31,

2022.

e

Includes

financial

instruments

with

values

derived

using

private

transaction

prices

or

non-public

third

party

pricing

information

which

is

unobservable.

May

also

include

fair

value

of

immaterial

financial

instruments

and

developed

using

various

valuation

techniques

and

unobservable

inputs.

9. Fair

Value

Measurements 

(continued)

Franklin

Limited

Duration

Income

Trust

Notes

to

Schedule

of

Investments

(unaudited)

120

Quarterly

Schedule

of

Investments

Abbreviations

Selected

Portfolio

CLO

Collateralized

Loan

Obligation

FHLMC

Federal

Home

Loan

Mortgage

Corp.

FNMA

Federal

National

Mortgage

Association

FRN

Floating

Rate

Note

GNMA

Government

National

Mortgage

Association

LIBOR

London

Inter-Bank

Offered

Rate

MBS

Mortgage-Backed

Security

PIK

Payment-In-Kind

SOFR

Secured

Overnight

Financing

Rate

TBA

To-Be-Announced

TBD

To

Be

Determined

For

additional

information

on

the

Fund's

significant

accounting

policies,

please

refer

to

the Fund's

most

recent

semiannual

or

annual

shareholder

report.