Franklin Mutual Global Discovery Fund
Franklin Mutual Series Funds · 5 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
Franklin Mutual Global Discovery Fund is an actively managed global equity fund.
- Asset class
- Equity
- Region
- Global
- Management
- Actively managed
- Fund type
- Open-end fund
Fund profile
As filed in the prospectus · 2026 Q2
Capital appreciation.
The fund employs fundamental value analysis to select undervalued equity securities trading below their assessed intrinsic value, examining cash flow potential, earnings multiples, book value, and ESG considerations where applicable. The portfolio is weighted toward large- and mid-cap U.S. and foreign companies, with at least 30% in foreign securities and up to 25% in emerging markets, and may also include merger arbitrage and distressed debt. Because security selection depends on the investment manager's individual analysis of fundamental value with no preset screening criteria, portfolio composition will diverge from any benchmark.
| Share class | Expense ratio |
|---|---|
| TEDIX | 1.20% |
| TEDSX | 1.95% |
| MDISX | 0.95% |
| TEDRX | 1.45% |
| FMDRX | 0.89% |
Portfolio turnover 42.28% · as of 2026 Q2
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 96.78% |
| Loans | 1.34% |
| Cash & short-term | 1.24% |
| Bonds | 0.45% |
| Derivatives | 0.03% |
Derivatives are shown at market value, not notional exposure.
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| International | 51.7% |
| Financials | 12.0% |
| Health Care | 8.4% |
| Communication Services | 6.2% |
| 7 smaller | 21.7% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Latest quarter
What changed since the fund's previous filing
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +17.42% | +43.87% | +57.21% | 12.21% | -8.00% | |
| +16.53% | +40.62% | +51.38% | 12.20% | -8.06% | |
| +17.68% | +44.92% | +59.16% | 12.21% | -7.97% | |
| +17.12% | +42.76% | +55.22% | 12.22% | -8.03% | |
| +17.77% | +45.23% | +59.76% | 12.22% | -7.98% |
These classes hold the same portfolio, so the 8.38pp spread over 5 years is the cost difference between them — roughly 1.68pp a year — not a difference in what they own.
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Floating rate | 74.9% |
| Fixed rate | 25.1% |
Share of the fund's debt value in each maturity band, shortest first.
| 1-3y | 24.3% |
| 3-5y | 13.2% |
| 5-10y | 62.5% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| MSFT | Microsoft Corp.MSFT | 2.97% | $373.02 | $267.82M | 718.0K |
| MRK | Merck & Co., Inc.MRK | 2.65% | $128.50 | $238.61M | 1.9M |
| — | BNP Paribas SA | 2.64% | $116.79 | $237.91M | 2.0M |
| — | Roche Holding AG | 2.34% | $411.09 | $210.77M | 512.7K |
| EOG | EOG Resources, Inc.EOG | 2.24% | $129.73 | $202.29M | 1.6M |
| — | British American Tobacco plc | 2.20% | $61.88 | $198.37M | 3.2M |
| BAC | Bank of America Corp.BAC | 2.20% | $56.98 | $197.99M | 3.5M |
| AJG | Arthur J Gallagher & Co.AJG | 2.10% | $229.57 | $189.62M | 826.0K |
| — | AerCap Holdings NV | 2.09% | $145.78 | $188.75M | 1.3M |
| — | Airbus SE | 2.09% | $222.49 | $188.82M | 848.6K |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
Top 10 positions are 23.53% of net assets, top 25 51.56%, across 68 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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