FRANKLIN MUTUAL ADVISERS, LLC

CRD 111376File 801-53068

APPROVED

Retail clients

Custody

Disclosure events

Filing as of Dec 23, 2025

Feed vintage Aug 17, 2026

Regulatory AUM

$42.59B

Top 10% of cohort (national)

Discretionary AUM

$42.48B

Non-discretionary $110.8M

Clients

68 accounts

Employees

Top 10% of cohort in NJ

Identity & registration

ADV Item 1

Organization form: Limited Liability Company
Firm type: Registered
SEC region: NYRO
Registration date: Oct 10, 1996
Principal office: 101 JOHN F. KENNEDY PARKWAY, SHORT HILLS, NJ, 07078-2789
Phone: (973) 912-2000
Website: http://www.njbest.com/

Assets & accounts

ADV Item 5F

Total regulatory AUM: $42.59B
Discretionary AUM: $42.48B
Non-discretionary AUM: $110.8M
Discretionary accounts: 67
Non-discretionary accounts: 1
Total accounts: 68
AUM per client: $686.9M

Clients by type

ADV Item 5D

Client type	Clients	AUM
Other	Fewer than 5	$11.3M
Investment companies	16	$33.03B
Charitable organizations	Fewer than 5	$64.0M
Other investment advisers	Fewer than 5	$110.8M
High net worth individuals	17	$2.89B
Pooled investment vehicles	29	$6.48B

Compensation & activities

ADV Items 5E, 5G

Compensation

Performance-based fees
A percentage of assets under your management

Advisory activities

Portfolio management for investment companies
Portfolio management for pooled investment vehicles

Custody

ADV Item 9

Firm Custody Cash: Yes
Firm Custody Assets: Yes
Firm Custody Clients: Yes
Firm Custody Securities: Yes
Related Person Custody Cash: No
Related Person Custody Assets: No
Related Person Custody Clients: No
Related Person Custody Securities: Yes

Disclosure events

ADV Item 11

Q11
Q11D2
Q11D4

Filed changes

Date	Field	From	To
Aug 12, 2026	Registration	—	APPROVED

Every value above is reproduced from this firm's Form ADV filing. Fields the firm left blank are shown as “Not reported” rather than filled in from other sources.