Portfolio Holdings for Franklin Income Fund as of December 31, 2009

The following portfolio data for the Franklin Templeton funds is made available to the public under our Portfolio
Holdings Release Policy and is "as of" the date indicated. This portfolio data should not be relied upon as a complete
listing of a fund's holdings (or of a fund's top holdings) as information on particular holdings may be withheld if it is in the
fund's interest to do so.
Shares/
Coupon Maturity
Security Name
Market Value
Positions
Rate
Date
ABBOTT LABORATORIES
ABBOTT LABORATORIES
ABX 12.5% YES NOTES ISSUED BY
ADVANCED MICRO DEVICES INC
ADVANCED MICRO DEVICES INC
ADVANCED MICRO DEVICES INC
AES CORP
AFLAC INC
AGL RESOURCES INC
ALLIANCE ONE INTERNATIONAL INC
ALLIANCE ONE INTERNATIONAL INC
ALLIANT ENERGY CORP
ALLISON TRANSMISSION INC
ALON REFINING KROTZ SPRINGS IN
ALTEGRITY INC
ALTEGRITY INC
AMEREN CORP
AMERICAN AIRLINES INC
AMERICAN ELECTRIC POWER CO INC
AMERICAN WATER WORKS CO INC
ANGLOGOLD ASHANTI LTD
ANTERO RESOURCES FINANCE
APRIA HEALTHCARE GROUP INC
APRIA HEALTHCARE GROUP INC
ASHLAND INC
AT&T INC
BAC 10% ELN'S ISSUED BY CREDIT
BAC 11.10% ELN'S ISSUED BY CRE
BAC 8% PERQS ISSUED BY MORGAN
BALL CORPORATION
BALL CORPORATION
BANK OF AMERICA CORP
BANK OF AMERICA CORP
BANK OF AMERICA CORP
BARCLAYS PLC
BAUSCH & LOMB INC
BAUSCH & LOMB INC
BERRY PETROLEUM CO
BILL BARRETT CORP
BNY MONEY FUND NEW SERIES

(7,398)
1,739,800
5,000,000
10,000,000
65,700,000
84,550,000
61,000,000
13,200,000
3,000,000
10,600,000
22,500,000
662,257
173,180,253
30,000,000
20,600,000
107,518,797
10,000,000
67,500,000
10,000,000
1,388,400
2,884,064
92,650,000
14,000,000
32,300,000
35,000,000
16,697,000
6,310,000
8,850,000
5,685,000
14,800,000
15,400,000
100,000,000
580,000
35,386,000
15,000,000
8,315,391
34,242,000
15,300,000
15,000,000
451,667
Page 1 of 10

($221,940)
$94,888,692
$202,602,500
$9,012,500
$65,782,125
$83,493,125
$62,906,250
$15,282,286
$111,390,000
$11,183,000
$23,737,500
$20,371,025
$159,369,128
$28,275,000
$18,488,500
$96,901,315
$284,100,000
$71,043,750
$352,600,000
$31,308,420
$116,458,504
$94,966,250
$15,470,000
$35,610,750
$38,500,000
$472,859,040
$99,162,912
$141,038,025
$87,607,555
$15,336,500
$15,939,000
$96,627,000
$510,405,800
$533,267,020
$65,613,614
$7,938,604
$32,690,426
$16,715,250
$16,050,000
$361,334

N/A
N/A
N/A
6%
8.125%
5.75%
8%
8.5%
N/A
10%
10%
N/A
FLOATER
13.5%
10.5%
FLOATER
N/A
10.5%
N/A
N/A
N/A
9.375%
12.375%
11.25%
9.125%
N/A
N/A
N/A
N/A
7.375%
7.125%
8.125%
N/A
N/A
N/A
FLOATER
FLOATER
10.25%
9.875%
N/A

02/20/10
N/A
04/01/10
05/01/15
12/15/17
08/15/12
10/15/17
05/15/19
N/A
07/15/16
07/15/16
N/A
08/07/14
10/15/14
11/01/15
02/21/15
N/A
10/15/12
N/A
N/A
N/A
12/01/17
11/01/14
11/01/14
06/01/17
N/A
06/03/10
04/16/10
03/09/10
09/01/19
09/01/16
05/15/18
12/31/49
N/A
N/A
04/28/15
04/28/15
06/01/14
07/15/16
N/A

Portfolio Holdings for Franklin Income Fund as of December 31, 2009
Shares/
Positions

Market Value

15,000,000
21,506,000
100,000,000
450,000,000
188,157
2,299,688
83,625,000
100,000,000
125,000,000
25,847,400
24,000,000
201,050,000
35,000,000
15,000,000
100,000,000
72,250,000
227,347,163
80,000,000
50,000,000
6,000,000
60,000,000
75,000,000
13,684,210
11,800,000
77,878,703
113,698,684
125,000,000
2,112,650
4,084,845
11,871,333
55,000,000
158,000,000
165,000,000
182,000,000
188,065,000
220,000,000
6,200,000
16,700,000
45,000,000
635,000,000
28,700,000
116,050,000
50,000,000
145,000,000

$13,575,000
$76,275,115
$104,625,000
$478,125,000
$2,756,500
$3,334,547
$62,718,750
$103,500,000
$0
$722,541,741
$27,972,360
$206,327,562
$39,025,000
$17,113,740
$120,232,500
$77,307,500
$266,564,548
$82,500,000
$51,925,264
$88,140,000
$60,900,000
$71,906,250
$11,540,346
$12,168,750
$76,720,406
$95,601,605
$117,822,933
$12,570,267
$140,927,152
$409,560,988
$57,887,500
$153,260,000
$159,225,000
$179,270,000
$190,415,812
$242,550,000
$169,671,680
$17,451,500
$149,400,000
$523,081,250
$29,417,500
$120,111,750
$51,250,000
$147,175,000

Security Name
BOISE CASCADE LLC
C 17% YEELDS ISSUED BY BARCLAY
CABLEVISION SYSTEMS CORP
CABLEVISION SYSTEMS CORP
CALLON PETROLEUM CO
CALLON PETROLEUM CO
CALLON PETROLEUM CO
CALPINE CONSTRUCTION FINANCE
CALPINE CORP
CANADIAN OIL SANDS TRUST
CAPITAL ONE CAPITAL V
CASE NEW HOLLAND INC
CB RICHARD ELLIS SERVICES INC
CBS CORP
CBS CORP
CC HOLDINGS GS V LLC
CCH II LLC/CCH II CAPITAL CORP
CCO HLDGS LLC / CCO HLDGS CAP
CEMEX FINANCE LLC
CENTERPOINT ENERGY INC
CEQUEL COMMUNICATIONS HOLDINGS
CERIDIAN CORP
CEVA GROUP PLC
CEVA GROUP PLC
CEVA GROUP PLC
CEVA GROUP PLC
CEVA GROUP PLC
CHARTER COMMUNICATIONS INC
CHARTER COMMUNICATIONS INC
CHARTER COMMUNICATIONS INC
CHESAPEAKE ENERGY CORP
CHESAPEAKE ENERGY CORP
CHESAPEAKE ENERGY CORP
CHESAPEAKE ENERGY CORP
CHESAPEAKE ENERGY CORP
CHESAPEAKE ENERGY CORP
CHK 12% ELN'S ISSUED BY DEUTSC
CINEMARK USA INC
CITIGROUP INC
CLEAR CHANNEL COMMUNICATIONS I
CLEAR CHANNEL WORLDWIDE HLDGS
CLEAR CHANNEL WORLDWIDE HLDGS
CLEARWIRE COMMUNICATIONS LLC/F
CLEARWIRE CORPORATION

Page 2 of 10

Coupon Maturity
Rate
Date
7.125%
N/A
8.625%
8%
N/A
N/A
13%
8%
N/A
N/A
10.25%
7.75%
11.625%
8.2%
8.875%
7.75%
13.5%
8.75%
9.5%
N/A
8.625%
11.25%
FLOATER
11.625%
12%
FLOATER
10%
N/A
N/A
N/A
7.625%
6.875%
6.25%
6.5%
7.25%
9.5%
N/A
8.625%
N/A
FLOATER
9.25%
9.25%
12%
12%

10/15/14
03/29/10
09/15/17
04/15/12
02/01/49
N/A
09/15/16
06/01/16
N/A
N/A
08/15/39
09/01/13
06/15/17
05/15/14
05/15/19
05/01/17
11/30/16
11/15/13
12/14/16
N/A
11/15/17
11/15/15
08/01/12
10/01/16
09/01/14
08/01/12
09/01/14
11/30/14
N/A
N/A
07/15/13
11/15/20
01/15/18
08/15/17
12/15/18
02/15/15
11/04/10
06/15/19
N/A
11/13/15
12/15/17
12/15/17
12/01/15
12/01/15

Portfolio Holdings for Franklin Income Fund as of December 31, 2009
Shares/
Positions

Market Value

5,000,000
50,000,000
61,850,000
1,250,000
375,000,000
11,200,000
5,300,000
30,000,000
65,000,000
41,200,000
55,000,000
67,300,000
50,000,000
90,000,000
83,150,000
130,000,000
70,000,000
95,600,000
220,000,000
9,416,462
114,100,000
106,500,000
10,000,000
65,000,000
188,000,000
30,000,000
137,520,000
391,698,000
10,500,000
4,300,000
33,500,000
24,000,000
35,500,000
37,500,000
59,400,000
25,000,000
1,600,000
105,000,000
115,000,000
170,000,000
250,000,000
133,000,000
265,000,000
50,000,000

$89,373,000
$62,312,500
$68,229,147
$25,650,000
$389,062,500
$571,088,000
$244,489,000
$30,075,000
$65,650,000
$40,994,000
$58,850,000
$72,011,000
$50,375,000
$90,675,000
$86,891,750
$130,650,000
$17,850,000
$24,378,000
$56,100,000
$8,725,925
$35,941,500
$115,552,500
$174,326,957
$63,943,750
$197,400,000
$30,600,000
$159,523,200
$435,764,025
$414,750,000
$190,705,000
$583,570,000
$24,203,808
$33,572,014
$35,128,672
$62,379,325
$25,468,750
$97,443,200
$91,612,500
$106,375,000
$159,800,000
$238,750,000
$140,148,750
$271,956,250
$49,803,250

Security Name
CMCSA 8% ELN'S ISSUED BY JP MO
CMS ENERGY CORP
CMS ENERGY CORP
COLONY FINANCIAL INC
COMMUNITY HEALTH SYSTEMS INC
CONOCOPHILLIPS
CONSOLIDATED EDISON INC
CRICKET COMMUNICATIONS INC
CRICKET COMMUNICATIONS INC
CROWN CASTLE INTERNATIONAL COR
CROWN CASTLE INTERNATIONAL COR
CSC HOLDINGS INC
DAVITA INC
DAVITA INC
DELTA AIR LINES INC
DELTA AIR LINES INC
DEX MEDIA INC
DEX MEDIA INC
DEX MEDIA INC
DEX MEDIA WEST
DEX MEDIA WEST
DEX MEDIA WEST
DIAGEO PLC
DIGICEL GROUP LTD
DISH DBS CORP
DOLE FOOD CO INC
DOLLAR GENERAL CORP
DOLLAR GENERAL CORP
DOMINION RESOURCES INC
DTE ENERGY COMPANY
DUKE ENERGY CORP
DUKE REALTY LP
DUKE REALTY LP
DUKE REALTY LP
DUKE REALTY LP
DUPONT FABROS TECHNOLOGY LP
DVN 10.55% YES NOTES ISSUED BY
DYNEGY HOLDINGS INC
DYNEGY HOLDINGS INC
DYNEGY HOLDINGS INC
DYNEGY HOLDINGS INC
ECHOSTAR DBS CORP
ECHOSTAR DBS CORP
EL PASO CORP

Page 3 of 10

Coupon Maturity
Rate
Date
N/A
5.5%
8.75%
N/A
8.875%
N/A
N/A
7.75%
9.375%
7.125%
9%
8.5%
6.625%
7.25%
9.5%
12.25%
9%
8%
9%
FLOATER
9.875%
8.5%
N/A
8.875%
7.875%
8%
11.875%
10.625%
N/A
N/A
N/A
6.25%
6.5%
5.95%
8.25%
8.5%
N/A
7.75%
7.5%
7.5%
8.375%
7.75%
7.125%
7.25%

12/14/10
06/15/29
06/15/19
N/A
07/15/15
N/A
N/A
05/15/16
11/01/14
11/01/19
01/15/15
04/15/14
03/15/13
03/15/15
09/15/14
03/15/15
11/15/13
11/15/13
11/15/13
10/24/14
08/15/13
08/15/10
N/A
01/15/15
09/01/19
10/01/16
07/15/17
07/15/15
N/A
N/A
N/A
05/15/13
01/15/18
02/15/17
08/15/19
12/15/17
07/21/10
06/01/19
06/01/15
06/01/15
05/01/16
05/31/15
02/01/16
06/01/18

Portfolio Holdings for Franklin Income Fund as of December 31, 2009
Shares/
Positions

Market Value

176,600,000
250,000,000
17,000,000
187,500,000
344,500,000
396,220,000
56,800,000
11,000,000
2,399,400
3,000,000
3,239,000
16,608,000
11,784,000
4,700
3,000,000
140,450,000
244,999,999
270,000,000
328,447,367
3,000,000
75,000,000
20,000,000
25,000,000
80,000,000
75,000,000
120,000,000
185,000,000
190,000,000
183,000,000
365,000,000
400,000,000
400,000,000
42,250,000
47,875,000
115,000,000
975,000
6,000,000
82,400,000
110,000,000
77,231,324
162,500,000
290,000,000
353,531,239
115,000,000

$207,946,500
$238,302,750
$17,977,500
$152,812,500
$243,733,750
$283,697,085
$56,009,912
$756,470,000
$2,183,454
$2,820,000
$5,911,175
$16,940,160
$12,726,720
$13,866,175
$31,950,000
$142,205,625
$218,723,749
$253,125,000
$290,734,712
$142,470,000
$74,156,250
$21,000,000
$25,058,825
$74,355,713
$78,750,000
$139,800,000
$186,571,575
$187,657,746
$188,961,042
$373,212,500
$404,498,800
$413,072,800
$37,919,375
$47,515,937
$120,750,000
$51,331,312
$322,200,000
$89,911,996
$120,615,110
$67,867,026
$131,625,000
$267,525,000
$365,021,004
$115,071,875

Security Name
EL PASO CORP
EL PASO CORP
ENCORE ACQUISITION CO
ENERGY FUTURE HOLDINGS CORP
ENERGY FUTURE HOLDINGS CORP
ENERGY FUTURE HOLDINGS CORP
EXPRO FINANCE LUXEMBOURG
EXXON MOBIL CORP
FANNIE MAE
FANNIE MAE
FANNIE MAE
FEDERAL HOME LOAN MORTGAGE COR
FEDERAL NATIONAL MORTGAGE ASSO
FEDERAL NATIONAL MORTGAGE ASSO
FELCOR LODGING TRUST INC
FELCOR LODGING TRUST INC
FIRST DATA CORP
FIRST DATA CORP
FIRST DATA CORP
FIRSTENERGY CORP
FLEXTRONICS INTERNATIONAL LTD
FORD MOTOR CREDIT CO LLC
FORD MOTOR CREDIT CO LLC
FORD MOTOR CREDIT CO LLC
FORD MOTOR CREDIT CO LLC
FORD MOTOR CREDIT CO LLC
FORD MOTOR CREDIT CO LLC
FORD MOTOR CREDIT CO LLC
FORD MOTOR CREDIT CO LLC
FORD MOTOR CREDIT CO LLC
FORD MOTOR CREDIT CO LLC
FORD MOTOR CREDIT CO LLC
FOREST CITY ENTERPRISES INC
FOREST OIL CORP
FOREST OIL CORP
FPL GROUP INC
FPL GROUP INC
FREEPORT-MCMORAN COPPER & GOLD
FREEPORT-MCMORAN COPPER & GOLD
FREESCALE SEMICONDUCTOR INC
FREESCALE SEMICONDUCTOR INC
FREESCALE SEMICONDUCTOR INC
FREESCALE SEMICONDUCTOR INC
GMAC INC

Page 4 of 10

Coupon Maturity
Rate
Date
12%
7.75%
9.5%
10.875%
12%
5.55%
8.5%
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
10%
FLOATER
9.875%
FLOATER
N/A
6.25%
8.7%
7%
3.0344%
9.875%
12%
7.25%
5.5036%
9.75%
7.375%
7.5%
8%
7.625%
7.25%
8.5%
N/A
N/A
8.25%
8.375%
FLOATER
10.125%
8.875%
FLOATER
7.75%

12/12/13
01/15/32
05/01/16
11/01/17
11/01/17
11/15/14
12/15/16
N/A
N/A
N/A
05/13/11
N/A
N/A
12/31/49
12/31/49
10/01/14
09/24/14
09/24/15
09/24/14
N/A
11/15/14
10/01/14
10/01/13
01/13/12
08/10/11
05/15/15
10/25/11
06/15/11
09/15/10
02/01/11
08/01/12
06/01/14
06/01/15
06/15/19
02/15/14
06/01/12
N/A
04/01/15
04/01/17
12/01/13
12/15/16
12/15/14
12/15/14
01/19/10

Portfolio Holdings for Franklin Income Fund as of December 31, 2009
Shares/
Positions

Market Value

148,000,000
170,000,000
267,636
310,000,000
31,706,000
4,000,000
25,300,000
50,000,000
100,000,000
100,000,000
56,515,435
61,200,717
62,320,000
169,455,000
165,000,000
160,000,000
195,000,000
300,000,000
15,040,000
23,000,000
25,615,000
33,325,000
70,500,000
15,000,000
140,000,000
445,000,000
35,000,000
15,500,000
85,500,000
110,000,000
120,956,000
125,750,000
195,000,000
240,000,000
35,000,000
15,000,000
33,500,000
96,000,000
24,146,182
43,684,878
180,000,000
7,500,000
30,000,000
80,000,000

$148,000,000
$167,450,000
$176,539,396
$307,675,000
$26,355,612
$95,233,200
$25,900,875
$52,500,000
$99,718,800
$105,000,000
$54,014,627
$58,557,213
$61,696,800
$160,770,431
$172,218,750
$173,200,000
$186,225,000
$322,875,000
$13,944,530
$22,544,945
$25,767,204
$31,491,691
$69,033,258
$15,712,500
$150,150,000
$457,237,500
$37,012,500
$15,848,750
$87,316,875
$111,100,000
$114,454,615
$136,438,750
$194,512,500
$236,400,000
$399,658,608
$14,437,500
$32,913,750
$85,440,000
$12,641,540
$22,705,215
$165,271,644
$139,957,500
$31,050,000
$83,800,000

Security Name
GMAC INC
GMAC INC
GMAC INC
GMAC INC
GREENBRIER COMPANIES INC
HAL 12% ELN'S ISSUED BY CREDIT
HANESBRANDS INC
HARRAHS OPERATING CO INC
HARRAHS OPERATING CO INC
HARRAHS OPERATING ESCROW
HCA INC
HCA INC
HCA INC
HCA INC
HCA INC
HCA INC
HCA INC
HCA INC
HCP INC
HCP INC
HCP INC
HCP INC
HCP INC
HEADWATERS INC
HERTZ CORP
HERTZ CORP
HOLLY CORP
HOST HOTELS & RESORTS LP
HOST HOTELS & RESORTS LP
HOST HOTELS & RESORTS LP
HOST HOTELS & RESORTS LP
HOST HOTELS & RESORTS LP
HOST HOTELS & RESORTS LP
HOST HOTELS & RESORTS LP
HSBC HOLDINGS PLC
HUNTSMAN INTL LLC
HUNTSMAN INTL LLC
HUNTSMAN INTL LLC
IDEARC INC
IDEARC INC
INEOS GROUP HLDGS PLC
INTC 10% YES NOTES ISSUED BY G
INTELSAT JACKSON HOLDING LTD
INTERGEN NV

Page 5 of 10

Coupon Maturity
Rate
Date
7.25%
6.875%
N/A
6.875%
8.375%
N/A
8%
11.25%
FLOATER
11.25%
FLOATER
FLOATER
6.75%
6.375%
7.875%
8.5%
6.5%
9.25%
5.625%
6.3%
5.625%
6%
6.7%
11.375%
10.5%
8.875%
9.875%
7%
7.125%
6.875%
2.625%
9%
6.75%
6.375%
N/A
7.375%
7.875%
5.5%
FLOATER
FLOATER
7.875%
N/A
8.5%
9%

03/02/11
08/28/12
N/A
09/15/11
05/15/15
07/22/10
12/15/16
06/01/17
10/01/16
06/01/17
11/18/13
11/19/12
07/15/13
01/15/15
02/15/20
04/15/19
02/15/16
11/15/16
05/01/17
09/15/16
02/28/13
01/30/17
01/30/18
11/01/14
01/01/16
01/01/14
06/15/17
08/15/12
11/01/13
11/01/14
04/15/27
05/15/17
06/01/16
03/15/15
N/A
01/01/15
11/15/14
06/30/16
11/17/14
11/17/13
02/15/16
06/03/10
11/01/19
06/30/17

Portfolio Holdings for Franklin Income Fund as of December 31, 2009
Shares/
Positions

Security Name
ISTAR FINANCIAL INC
ISTAR FINANCIAL INC
ISTAR FINANCIAL INC
ISTAR FINANCIAL INC
ISTAR FINANCIAL INC
JABIL CIRCUIT INC
JARDEN CORP
JARDEN CORP
JBS USA LLC
JOHNSON & JOHNSON
JOHNSONDIVERSEY HOLDINGS INC
JOHNSONDIVERSEY INC
JOHNSONDIVERSEY INC
JPMORGAN CHASE & CO
JPMORGAN CHASE & CO
KB HOME
KB HOME
KB HOME
KB HOME
KB HOME
LAMAR MEDIA CORP
LEHMAN BROTHERS HOLDINGS INC
LEHMAN BROTHERS HOLDINGS INC
LEHMAN BROTHERS HOLDINGS INC
LEHMAN BROTHERS INTO GE 7.50%
LEHMAN BROTHERS INTO TGT 7.50%
LIBERTY GLOBAL INC
LIBERTY MUTUAL GROUP
LIMITED BRANDS INC
LUCENT TECHNOLOGIES INC
MARINER ENERGY INC
MARINER ENERGY INC
MARINER ENERGY INC
MERCK & CO INC
MERCK & CO INC
MGM MIRAGE
MGM MIRAGE
MGM MIRAGE
MGM MIRAGE
MICHAELS STORES INC
MOTORS LIQUIDATION CO
MOTORS LIQUIDATION CO
NALCO CO
NALCO FINANCE HOLDINGS

6,142,000
5,213,500
67,350,000
174,100,000
250,000,000
45,400,000
34,000,000
94,675,279
144,500,000
5,000,000
49,200,000
30,000,000
40,000,000
10,000,000
865,000,000
8,346,000
49,000,000
70,500,000
75,000,000
90,000,000
30,000,000
550,000
1,000,650
286,300,000
900,000,000
400,000,000
122,750,000
100,000,000
40,000,000
180,000,000
25,800,000
36,600,000
46,500,000
(3,753)
23,000,000
25,000,000
50,000,000
70,000,000
70,000,000
48,235,000
11,000,000
510,000,000
34,650,000
380,000,000
Page 6 of 10

Market Value

Coupon Maturity
Rate
Date

$5,527,800
8%
03/15/11
$13,033,750
N/A
N/A
$59,268,000
10%
06/15/14
$113,165,000
8.625% 06/01/13
$137,825,000
0.7506% 10/01/12
$48,294,250
7.75%
07/15/16
$35,275,000
8%
05/01/16
$92,359,143 FLOATER 01/24/12
$165,813,750
11.625% 05/01/14
$324,550,000
N/A
N/A
$49,692,000
10.5%
05/15/20
$30,375,000
8.25%
11/15/19
$40,375,000 FLOATER 11/24/15
$415,300,000
N/A
N/A
$895,069,995
7.9%
04/30/18
$8,408,595
6.375% 08/15/11
$51,695,000
9.1%
09/15/17
$67,327,500
7.25%
06/15/18
$70,875,000
5.75%
02/01/14
$84,375,000
6.25%
06/15/15
$33,262,500
9.75%
04/01/14
$2,172,500
N/A
07/01/11
$3,021,963
N/A
12/31/49
$57,260,000
6.2%
09/26/14
$56,700,000
7.5%
02/20/49
$41,300,000
7.5%
02/20/49
$133,950,937
4.5%
11/15/16
$107,000,000
10.75% 06/15/2088
$43,700,000
8.5%
06/15/19
$129,825,000
6.45%
03/15/29
$28,896,000
11.75% 06/30/16
$35,319,000
8%
05/15/17
$46,500,000
7.5%
04/15/13
($150,120)
N/A
02/20/10
$852,380,000
N/A
N/A
$22,437,500
11.375% 03/01/18
$50,000,000
8.5%
09/15/10
$61,075,000
6.75%
04/01/13
$80,850,000
13%
11/15/13
$50,164,400
10%
11/01/14
$63,800,000
N/A
07/15/33
$140,250,000
8.375% 07/15/33
$36,988,875
8.25%
05/15/17
$389,500,000
9%
02/01/14

Portfolio Holdings for Franklin Income Fund as of December 31, 2009
Shares/
Positions

Market Value

33,300,000
12,600,000
128,000,000
3,600,000
35,150,000
55,300,000
2,900,000
40,000
40,177,777
133,541,279
75,000,000
51,850,000
1,000,000
85,000,000
129,050,000
141,000,000
35,000,000
80,840,000
95,000,000
10,200,000
4,800,000
25,000,000
110,000,000
50,000,000
80,000,000
95,500,000
2,950,000
1,000,000
33,000,000
9,400,000
55,000,000
15,000,000
36,800,000
90,000,000
150,000,000
43,800,000
87,750,000
50,201,148
55,000,000
142,000,000
209,450,000
213,100,000
501,500,000
40,000,000

$34,299,000
$12,789,000
$128,960,000
$171,324,000
$35,677,250
$39,816,000
$45,356,000
$1,400,000
$42,186,665
$122,285,619
$61,875,000
$53,794,375
$61,310,000
$89,250,000
$141,632,375
$143,115,000
$31,500,000
$79,671,688
$89,300,000
$463,080,000
$178,464,000
$24,851,100
$109,726,540
$51,625,000
$88,000,000
$97,648,750
$60,917,500
$32,980,000
$38,280,000
$390,570,000
$57,839,100
$506,250,000
$41,952,000
$94,050,000
$151,125,000
$44,895,000
$94,550,625
$46,084,654
$5,431,250
$14,022,500
$20,683,187
$21,043,625
$49,523,125
$43,000,000

Security Name
NAVISTAR INTERNATIONAL CORP
NEWFIELD EXPLORATION COMPANY
NEWFIELD EXPLORATION COMPANY
NEWMONT MINING CORP
NEWPAGE CORP
NEWPAGE CORP
NISOURCE INC
NORTEK INC
NORTEK INC
NOVELIS CORPORATION (US)
OPTI CANADA INC
OWENS-BROCKWAY GLASS CONTAINER
PEPSICO INC
PETROHAWK ENERGY CORP
PETROHAWK ENERGY CORP
PETROHAWK ENERGY CORP
PETROPLUS FINANCE LTD
PETROPLUS FINANCE LTD
PETROPLUS FINANCE LTD
PG&E CORP
PINNACLE WEST CAPITAL CORP
PIONEER NATURAL RESOURCES CO
PIONEER NATURAL RESOURCES CO
PLAINS EXPLORATION & PRODUCTIO
PLAINS EXPLORATION & PRODUCTIO
PLAINS EXPLORATION & PRODUCTIO
PORTLAND GENERAL ELECTRIC CO
PPL CORP
PRIDE INTERNATIONAL INC
PROGRESS ENERGY INC
PUBLIC SERVICE CO OF NEW MEXIC
PUBLIC SERVICE ENTERPRISE GROU
QUICKSILVER RESOURCES INC
QUICKSILVER RESOURCES INC
QUINTILES TRANSNATIONAL CORP
QVC INC
QWEST CORP
R H DONNELLEY INC
R.H. DONNELLEY CORP
R.H. DONNELLEY CORP
R.H. DONNELLEY CORP
R.H. DONNELLEY CORP
R.H. DONNELLEY CORP
RANGE RESOURCES CORP

Page 7 of 10

Coupon Maturity
Rate
Date
8.25%
7.125%
6.625%
N/A
11.375%
10%
N/A
N/A
11%
FLOATER
7.875%
7.375%
N/A
9.125%
10.5%
7.875%
7%
9.375%
6.75%
N/A
N/A
6.65%
6.875%
8.625%
10%
7.75%
N/A
N/A
8.5%
N/A
7.95%
N/A
11.75%
9.125%
9.5%
7.5%
8.375%
FLOATER
6.875%
6.875%
6.875%
8.875%
8.875%
8%

11/01/21
05/15/18
04/15/16
N/A
12/31/14
05/01/12
N/A
N/A
12/01/13
07/07/14
12/15/14
05/15/16
N/A
07/15/13
08/01/14
06/01/15
05/01/17
09/15/19
05/01/14
N/A
N/A
03/15/17
05/01/18
10/15/19
03/01/16
06/15/15
N/A
N/A
06/15/19
N/A
05/15/18
N/A
01/01/16
08/15/19
12/30/14
10/01/19
05/01/16
06/30/11
01/15/13
01/15/13
01/15/13
01/15/16
10/15/17
05/15/19

Portfolio Holdings for Franklin Income Fund as of December 31, 2009
Shares/
Positions

Market Value

Coupon Maturity
Rate
Date

97,000,000
98,206,000
173,274,000
18,000,000
40,000,000
150,000,000
175,000,000
58,000,000
30,000,000
105,000,000
280,000,000
30,170,000
300,000
59,150,000
68,925,000
106,300,000
126,745,000
100,000,000
150,000,000
35,000,000
5,900,000
117,000,000
17,000,000
12,500,000
80,200,000
65,000,000
35,000,000
55,000,000
85,000,000
108,500,000
226,950,473
36,250,000
2,000,000
61,900,000
66,675,000
81,300,000
10,000,000
30,000,000
115,000,000
250,000
300,000,000
300,000,000
446,365,000
185,000,000

$96,515,000
$99,188,060
$175,006,740
$18,810,000
$41,100,000
$149,250,000
$172,812,500
$58,580,000
$33,037,500
$95,812,500
$234,500,000
$30,320,850
$43,354,500
$59,445,750
$61,858,464
$112,412,250
$125,160,687
$100,250,000
$148,687,500
$35,600,285
$335,592,000
$115,830,000
$572,560,000
$258,125,000
$82,205,000
$69,712,500
$36,050,000
$60,843,750
$90,950,000
$110,670,000
$226,950,473
$37,156,250
$97,400,000
$71,726,625
$80,010,000
$94,917,750
$165,300,000
$32,700,000
$123,050,000
$234,861,114
$325,500,000
$337,500,000
$449,712,737
$179,912,500

11.75%
9.5%
9.5%
8.625%
7.75%
7.625%
7.875%
10.25%
10%
7.25%
7.5%
8.625%
N/A
8.75%
3.8756%
9.875%
8%
8.125%
6.75%
7.375%
N/A
6.875%
N/A
N/A
8.375%
7.875%
9.125%
10.625%
10.25%
8%
N/A
7.75%
N/A
9.75%
10.75%
10.25%
N/A
8.875%
9.25%
N/A
9%
10%
7.375%
8%

Security Name
RBS GLOBAL & REXNORD CORP
RBS GLOBAL & REXNORD CORP
RBS GLOBAL & REXNORD CORP
REGAL CINEMAS CORP
REYNOLDS GROUP ESCROW
RRI ENERGY INC
RRI ENERGY INC
RSC EQUIP RENT/RSC HLDGS
RSC EQUIPMENT RENTAL INC
SABINE PASS LNG LP
SABINE PASS LNG LP
SANDRIDGE ENERGY INC
SANDRIDGE ENERGY INC
SANDRIDGE ENERGY INC
SANDRIDGE ENERGY INC
SANDRIDGE ENERGY INC
SANDRIDGE ENERGY INC
SANMINA-SCI CORP
SANMINA-SCI CORP
SEACOR HOLDINGS INC
SEMPRA ENERGY
SESI LLC
SOUTHERN CO
SPECTRA ENERGY CORPORATION
SPRINT NEXTEL CORP
STARWOOD HOTELS & RESORTS WORL
SUNGARD DATA SYSTEMS INC
SUNGARD DATA SYSTEMS INC
SUNGARD DATA SYSTEMS INC
SUPERVALU INC
SWEEP MONEYMARKET PORTFOLIO
TALECRIS BIOTHERAPEUTICS HOLDI
TARGET CORP
TECK RESOURCES LIMITED
TECK RESOURCES LIMITED
TECK RESOURCES LIMITED
TECO ENERGY INC
TENET HEALTHCARE CORP
TENET HEALTHCARE CORP
TENET HEALTHCARE CORP
TENET HEALTHCARE CORP
TENET HEALTHCARE CORP
TENET HEALTHCARE CORP
TEREX CORP

Page 8 of 10

08/01/16
08/01/14
08/01/14
07/15/19
10/15/16
06/15/14
06/15/17
11/15/19
07/15/17
11/30/13
11/30/16
04/01/15
12/31/49
01/15/20
04/01/14
05/15/16
06/01/18
03/01/16
03/01/13
10/01/19
N/A
06/01/14
N/A
N/A
08/15/17
10/15/14
08/15/13
05/15/15
08/15/15
05/01/16
N/A
11/15/16
N/A
05/15/14
05/15/19
05/15/16
N/A
07/01/19
02/01/15
10/01/12
05/01/15
05/01/18
02/01/13
11/15/17

Portfolio Holdings for Franklin Income Fund as of December 31, 2009
Shares/
Positions

Market Value

16,000,000
41,400,000
100,000,000
100,685,407
105,000,000
172,115,895
269,499,999
284,250,000
425,000,000
695,000,000
50,000,000
47,725,000
20,000,000
26,500,000
278,912,500
23,100,000
52,700,000
43,900,000
7,200,000
87,311,000
15,000,000
40,000,000
23,900,000
9,000,000
49,250,000
74,800,000
50,000,000
100,000,000
156,255,000
463,516
20,000,000
44,500,000
449,600,000
37,500,000
15,000,000
25,000,000
3,575,000
6,315,000
7,350,000
53,500,000
70,750,000
42,700,000
21,727,000
75,000,000

$14,960,000
$43,056,000
$92,172,060
$82,247,392
$84,525,000
$140,274,455
$218,160,249
$230,242,500
$299,625,000
$562,950,000
$50,937,500
$44,980,812
$17,437,500
$29,282,500
$245,791,640
$33,610,557
$53,490,500
$64,110,599
$7,387,560
$82,072,340
$15,825,000
$42,200,000
$25,274,250
$300,780,000
$51,835,625
$80,690,500
$51,625,000
$230,561,459
$149,223,525
$425,971,204
$536,400,000
$43,387,500
$483,320,000
$41,062,500
$13,650,000
$22,500,000
$97,815,932
$122,060,109
$143,613,855
$58,448,750
$70,219,375
$45,955,875
$20,324,630
$83,661,900

Security Name
TESORO CORPORATION
TESORO CORPORATION
TESORO CORPORATION
TEXAS COMPETITIVE ELECTRIC HOL
TEXAS COMPETITIVE ELECTRIC HOL
TEXAS COMPETITIVE ELECTRIC HOL
TEXAS COMPETITIVE ELECTRIC HOL
TEXAS COMPETITIVE ELECTRIC HOL
TEXAS COMPETITIVE ELECTRIC HOL
TEXAS COMPETITIVE ELECTRIC HOL
TRANSDIGM INC
UNITED RENTALS NORTH AMERICA I
UNIVISION COMMUNICATIONS INC
UNIVISION COMMUNICATIONS INC
UNIVISION COMMUNICATIONS INC
UPC GERMANY GMBH
UPC GERMANY GMBH
UPC GERMANY GMBH
UPC HOLDING BV
US ONCOLOGY HOLDINGS INC
US ONCOLOGY INC
US ONCOLOGY INC
VANGUARD HEALTH HOLDING CO I L
VERIZON COMMUNICATIONS INC
VIASAT INC
VIRGIN MEDIA FINANCE PLC
VISANT HOLDING CORP
VODAFONE GROUP PLC
W&T OFFSHORE INC
WELLS FARGO & CO
WELLS FARGO & CO
WELLS FARGO CAPITAL XIII
WELLS FARGO CAPITAL XV
WENDY'S/ARBY'S RESTAURANT LLC
WESTERN REFINING INC
WESTERN REFINING INC
WFC 10% NOTES ISSUED BY JP MOR
WFT 11% ELN'S ISSUED BY CREDIT
WFT 12% YEELDS ISSUED BY BARCL
WIND ACQUISITION FIN SA
WINDSTREAM CORP
WMG ACQUISITION CORP (WARNER M
WYNDHAM WORLDWIDE CORP
WYNDHAM WORLDWIDE CORP

Page 9 of 10

Coupon Maturity
Rate
Date
6.5%
9.75%
7.5%
FLOATER
FLOATER
FLOATER
FLOATER
10.25%
11.25%
10.25%
7.75%
7.75%
FLOATER
12%
10.5%
9.625%
8.125%
8.125%
9.875%
6.4275%
10.75%
9.125%
11.25%
N/A
8.875%
9.5%
8.75%
N/A
8.25%
N/A
N/A
7.7%
9.75%
10%
11.25%
7.7536%
N/A
N/A
N/A
11.75%
7.875%
9.5%
6%
9.875%

06/01/17
06/01/19
07/17/12
10/10/14
10/10/14
10/10/14
10/10/14
11/01/15
11/01/16
11/01/15
07/15/14
11/15/13
09/29/14
07/01/14
03/15/15
12/01/19
12/01/17
12/01/17
04/15/18
03/15/12
08/15/14
08/15/17
10/01/15
N/A
09/15/16
08/15/16
12/01/13
N/A
06/15/14
12/31/49
N/A
03/26/13
09/26/13
07/15/16
06/15/17
06/15/14
03/16/10
09/03/10
11/05/10
07/15/17
11/01/17
06/15/16
12/01/16
05/01/14

Portfolio Holdings for Franklin Income Fund as of December 31, 2009
Security Name
XCEL ENERGY INC
XRX 12% ELN'S ISSUED BY GOLDMA
XTO 9% YES NOTES ISSUED BY GOL

Shares/
Positions

Market Value

19,000,000
13,400,000
3,600,000

$407,550,000
$114,476,200
$161,326,800

Coupon Maturity
Rate
Date
N/A
N/A
N/A

N/A
11/19/10
08/20/10

Important Legal Information
• Portfolio holdings are subject to change without notice and may not represent current or future portfolio
composition. The portfolio data is “as of” the date indicated and we disclaim any responsibility to update the
information.
• Unlike the fund’s regulatory filings, the portfolio data and its presentation in this document are not required to
conform to Generally Accepted Accounting Principles (GAAP) and Securities and Exchange Commission (SEC)
presentation requirements. Therefore, it differs from that in the complete statement of investments in the annual and
semiannual report to shareholders filed with the SEC on Form N-CSR, and the complete statement of investments
provided in the first and third quarter SEC Form N-Q filings for each fiscal year.
• The portfolio data is for information only. It does not constitute a recommendation or an offer for a particular security
or fund, nor should it be taken as a solicitation or a recommendation to buy or sell securities or other
investments.
• Investors should carefully consider a fund's investment goals, risks, charges and expenses before
investing. To obtain a prospectus, which contains this and other information, talk to your financial advisor,
call us at 1-800/DIAL BEN (1-800/342-5236) or visit our website at franklintempleton.com. Please read the
prospectus carefully before investing. Franklin Templeton Distributors Inc., One Franklin Parkway, San
Copyright © 2004. Franklin Templeton Investments ©. All rights reserved.

Page 10 of 10

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