printmgr file - Templeton
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STATEMENT OF INVESTMENTS As at December 31, 2012<br />
<strong>Templeton</strong> International Stock Fund<br />
Average<br />
Cost<br />
Fair<br />
Value<br />
Shares<br />
(000s) (000s)<br />
LONG-TERM INVESTMENTS: 98.82%<br />
COMMON STOCKS: 95.22%<br />
United Kingdom: 17.77%<br />
Aviva PLC ......................... 1,941,210 $ 8,553 $ 11,933<br />
BAE Systems PLC ................... 2,460,107 17,798 13,588<br />
BHP Billiton PLC .................... 391,100 11,943 13,709<br />
BPPLC........................... 1,065,306 10,626 7,359<br />
Compass Group PLC ................. 881,820 5,336 10,404<br />
HSBC Holdings PLC .................. 1,283,063 26,834 13,344<br />
Kingfisher PLC ...................... 2,663,279 12,386 12,356<br />
Persimmon PLC .................... 914,181 9,401 11,945<br />
Rolls–Royce Holdings PLC . . ........... 543,195 2,324 7,737<br />
Royal Dutch Shell PLC, B . ............. 297,049 11,636 10,526<br />
Tesco PLC . . . ..................... 2,052,960 13,363 11,240<br />
Vodafone Group PLC ................. 4,947,685 15,119 12,373<br />
145,319 136,514<br />
Japan: 10.84%<br />
East Japan Railway Co. . . ............. 210,600 12,941 13,508<br />
Itochu Corp. ....................... 1,072,900 8,272 11,248<br />
Konica Minolta Holdings Inc. ........... 1,648,000 18,241 11,763<br />
Nintendo Co. Ltd. ................... 108,480 25,664 11,489<br />
Olympus Corp. ..................... 886,600 20,636 17,061<br />
Sony Corp. . . . ..................... 860,200 42,112 9,569<br />
Trend Micro Inc. .................... 288,500 7,801 8,646<br />
135,667 83,284<br />
Switzerland: 9.73%<br />
Adecco SA . . . ..................... 308,079 16,687 15,879<br />
Credit Suisse Group AG . . ............. 593,000 20,029 14,292<br />
Nestle SA ......................... 203,810 7,576 13,181<br />
Novartis AG . . . ..................... 270,460 16,759 16,860<br />
Roche Holding AG ................... 72,970 11,383 14,569<br />
72,434 74,781<br />
China: 8.48%<br />
China Coal Energy Co. Ltd., H ........... 10,006,000 7,976 10,733<br />
China Life Insurance Co. Ltd., H ......... 3,492,000 8,499 11,345<br />
China Mobile Ltd. ................... 1,241,500 6,186 14,359<br />
China Telecom Corp. Ltd., H . ........... 52,030,000 23,412 28,673<br />
46,073 65,110<br />
France: 6.94%<br />
AXASA........................... 579,536 15,860 10,409<br />
Cie Generale des Etablissements<br />
Michelin, B ...................... 111,060 7,707 10,567<br />
Sanofi . . .......................... 189,437 17,226 17,840<br />
Total SA, B . . . ..................... 280,620 22,923 14,499<br />
63,716 53,315<br />
Netherlands: 6.81%<br />
Akzo Nobel NV ..................... 232,830 9,650 15,304<br />
ING Groep NV ...................... 1,391,381 21,671 13,123<br />
Average<br />
Cost<br />
Fair<br />
Value<br />
Shares<br />
(000s) (000s)<br />
Netherlands: 6.81% (Continued)<br />
Koninklijke Philips Electronics NV ......... 304,616 $ 8,837 $ 8,010<br />
Randstad Holding NV .................. 431,435 10,739 15,901<br />
50,897 52,338<br />
Germany: 6.56%<br />
Bayer AG .......................... 158,265 9,942 14,987<br />
Deutsche Lufthansa AG ................ 538,720 8,873 10,113<br />
Merck KGaA ........................ 117,670 14,077 15,399<br />
Siemens AG ........................ 91,160 8,712 9,898<br />
41,604 50,397<br />
Hong Kong: 4.60%<br />
Cheung Kong (Holdings) Ltd. ............ 671,000 11,098 10,190<br />
Hang Lung Group Ltd. ................. 2,579,300 6,895 14,478<br />
Hutchison Whampoa Ltd. .............. 1,025,700 7,670 10,628<br />
25,663 35,296<br />
Norway: 4.28%<br />
Aker Solutions ASA ................... 722,050 6,049 14,846<br />
Telenor ASA ........................ 893,121 10,019 18,056<br />
16,068 32,902<br />
Singapore: 4.03%<br />
DBS Group Holdings Ltd. .............. 912,000 10,357 11,122<br />
Singapore Telecommunications Ltd. ....... 3,094,000 6,915 8,363<br />
United Overseas Bank Ltd. ............. 706,000 9,760 11,505<br />
27,032 30,990<br />
Italy: 3.85%<br />
EniSpA............................ 421,942 8,049 10,264<br />
Intesa Sanpaolo SpA .................. 5,605,998 7,354 9,627<br />
Unicredit SpA ....................... 1,983,865 7,154 9,701<br />
22,557 29,592<br />
Australia: 2.61%<br />
Brambles Ltd. ....................... 1,020,356 4,512 8,044<br />
Qantas Airways Ltd. .................. 7,718,793 12,600 12,016<br />
17,112 20,060<br />
Spain: 2.44%<br />
Repsol SA .......................... 376,475 7,834 7,631<br />
Repsol SA, Rights, 1/10/13 .............. 376,475 — 228<br />
Telefonica SA, American Depositary<br />
Receipt .......................... 812,184 18,210 10,890<br />
26,044 18,749<br />
Russia: 2.24%<br />
Gazprom, American Depositary Receipt ..... 1,780,400 37,361 17,206<br />
South Korea: 1.47%<br />
KB Financial Group Inc. ............... 318,926 12,981 11,287<br />
South Africa: 1.44%<br />
Sasol Ltd. .......................... 257,590 11,275 11,064<br />
The accompanying notes are an integral part of these financial statements.<br />
58 Franklin <strong>Templeton</strong> Investments Funds
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