# Portfolio overlap — FQLAX vs FTTMX Comparing **Franklin Louisiana Tax-Free Income Fund** (2026-02-28) and **Franklin Michigan Tax-Free Income Fund** (2026-02-28). - Shared positions: 10 - Franklin Louisiana Tax-Free Income Fund covered by Franklin Michigan Tax-Free Income Fund: 0.03233031688905054819182995475 - Franklin Michigan Tax-Free Income Fund covered by Franklin Louisiana Tax-Free Income Fund: 0.03233031688905054819182995474 ## Franklin Louisiana Tax-Free Income Fund — top positions | Security | Weight | Shared | |----------|--------|--------| | Louisiana (State of) Public Facilities Authority (Louisiana Children's Medical Center), Series 2015, RB | 0.037124 | | | City of New Orleans, Series 2021 A | 0.029954 | | | State of Louisiana, Series 2024 A | 0.028083 | | | OCHSNER CLINIC FOUNDATION OBLIGATED GROUP 5.0% 05-15-42 | 0.026933 | | | Louisiana (State of) Local Government Environmental Facilities & Community Development Authority (Woman's Hospital Foundation), Series 2017 A, Ref. RB | 0.024949 | | | Louisiana (State of) Public Facilities Authority (I-10 Calcasieu River Bridge), Series 2024, RB | 0.024325 | | | Jefferson Parish Consolidated Waterworks District No. 2, Series 2022 | 0.023981 | | | SHREVEPORT LA REGD B/E AG 5.00000000 | 0.023788 | | | Louisiana Public Facilities Authority, Series 2019 A | 0.023771 | | | New Orleans Aviation Board, Series A | 0.023471 | | | Louisiana Public Facilities Authority, Series 2015 A | 0.023215 | | | Louisiana State University & Agricultural & Mechanical College, Series 2016 A | 0.021211 | | | Louisiana Local Government Environmental Facilities & Community Development Authority, Series 2024 A-2 | 0.020404 | | | Louisiana Public Facilities Authority, Series 2020 A | 0.020272 | | | SHREVEPORT WTR & SWR | 0.018129 | | | Shreveport, Louisiana, Water and Sewer Revenue Bonds, Refunding Series 2020B | 0.017145 | | | St. John the Baptist, Series 2023 | 0.016863 | | | Louisiana (State of) Local Government Environmental Facilities & Community Development Authority (Ragin Cajun Facilities, Inc.), Series 2018, RB | 0.016474 | | | PUERTO RICO SALES TAX FING COR REGD OID B/E 4.75000000 | 0.015941 | | | Louisiana Public Facilities Authority, Series 2021 | 0.015726 | | | Louisiana Public Facilities Authority, Series 2025, RB | 0.014688 | | | PORT NEW ORLEANS LA BRD OF COMMISSIONERS PORT FAC REVENUE | 0.014568 | | | Louisiana Public Facilities Authority, Series 2016 A | 0.014192 | | | St. Tammany Parish Hospital Service District No. 1, Series 2018 A | 0.014140 | | | E BATON ROUGE PARISH LA SWR CO EASUTL 02/45 FIXED 4 | 0.014028 | | | Louisiana Local Government Environmental Facilities & Community Development Authority, Series 2024 | 0.013196 | | | West Feliciana Parish Parishwide Consolidated School District No. 1, Series 2020 | 0.012646 | | | Louisiana Public Facilities Authority, Series 2021 | 0.012624 | | | Parish of Terrebonne, Series 2020 A | 0.012596 | | | LOUISIANA ST LOCAL GOVT ENVRNM REGD B/E 2.50000000 | 0.012572 | | | N ORLEANS AVIAT 5.25% 1/1/2045 @ | 0.012386 | | | State of Louisiana, Series 2016 A | 0.012163 | | | City of Lafayette, Series 2019 A | 0.011480 | | | SOUTH QUAD L3C AG 5.25% 07-01-55 | 0.011037 | | | TANGIPAHOA PSH-REF | 0.010857 | | | LOUISIANA ST PUBLIC FACS AUTH LEASE REVENUE | 0.010800 | | | LAFAYETTE SCH 4% 4/1/53 | 0.010799 | | | Jefferson Sales Tax District, Series 2017 B | 0.010746 | | | Louisiana (State of) Local Government Environmental Facilities & Community Development Authority (St. Tammany Parish Gomesa), Series 2020, RB | 0.010594 | | | Port New Orleans Board of Commissioners, Series 2020 D | 0.009539 | | | TANGIPAHOA PSH-REF | 0.009505 | | | Louisiana (State of) Public Facilities Authority (Ochsner Clinic Foundation), Series 2017, Ref. RB | 0.009399 | | | Louisiana Public Facilities Authority, Series 2021 | 0.009331 | | | Capital Trust Authority, Series 2024 | 0.009203 | ✓ | | LOUISIANA STADIUM & EXPOSITION REGD B/E 5.25000000 | 0.008550 | | | State of Louisiana, Series 2025 B | 0.008385 | | | Louisiana Local Government Environmental Facilities & Community Development Authority, Series 2022 | 0.008093 | | | LOUISIANA ST LOCAL GOVT ENVRNMNTL FACS & CMNTY DEV AUTH REVE | 0.007818 | | | LAFAYETTE SCH 5.75% 4/1/2055 | 0.007714 | | | East Ouachita Parish School District, Series 2025 | 0.007604 | | ## Franklin Michigan Tax-Free Income Fund — top positions | Security | Weight | Shared | |----------|--------|--------| | PUERTO RICO SALES TAX FING COR REGD OID B/E 5.00000000 | 0.019431 | ✓ | | MICHIGAN ST BLDG AUTH REVENUE REGD B/E 5.00000000 | 0.018627 | | | MICHIGAN ST FIN AUTH REVENUE REGD B/E 5.00000000 | 0.018428 | | | Trenton Public Schools School District, Series 2018 | 0.018016 | | | MICHIGAN ST FIN AUTH REVENUE | 0.016971 | | | LANSING MI | 0.016066 | | | MI MISMED 5 11/15/2047 | 0.015643 | | | Public Finance Authority, Series 2025 A-2 | 0.015474 | ✓ | | MICHIGAN ST BLDG AUTH REVENUE | 0.015304 | | | LANSING MI WTR 5% 7/1/2054 | 0.015121 | | | WAYNE ST UNIV-A-GEN | 0.014339 | | | MICHIGAN ST HSG DEV AUTH SINGLE FAMILY MTG REV 3.1%, DUE 12/1/2044 | 0.014168 | | | Michigan Finance Authority, Series 2018 B | 0.013033 | | | MET TRANSPRTN AUTH NY REVENUE | 0.012825 | | | KENTWOOD MI ECON DEV CORP REGD B/E 4.00000000 | 0.012524 | | | Public Finance Authority, Series 2024 A-2 | 0.012376 | | | Wayne County Airport Authority, Series 2018 A | 0.012350 | | | SOUTHFIELD PUB SCH | 0.011808 | | | Farmington Public School District, Series 2018 | 0.011380 | | | Ludington Area School District, Series 2022 II | 0.011264 | | | MUNSON HEALTHCARE OBLIGATED GROUP 3.0% 07-01-51 | 0.011146 | | | Belding Area Schools, Series 2022 | 0.010917 | | | MI FIN AU 5% 11/15/41 | 0.010853 | | | DETROIT MI CITY SCH DIST REGD N/C B/E AG Q-SB 6.00000000 | 0.010809 | | | MI STRAT FND 5% 6/30/2048 @ | 0.010751 | | | Byron Center Public Schools, Series 2017 I | 0.010431 | | | Plainwell Community Schools, Series 2022 II | 0.010139 | | | Michigan Finance Authority, Series 2018 B | 0.009694 | | | Sparta Area Schools, Series 2019 II | 0.008987 | | | UNIV OF MICHIGAN | 0.008910 | | | Woodhaven-Brownstown School District, Series 2025 III | 0.008806 | | | Comstock Park Public Schools, Series 2025 II | 0.008643 | | | Allegan Public School District, Series 2025 III | 0.008560 | | | MICHIGAN ST HOSP FIN | 0.008560 | | | GREAT LAKES WTR 5.50% 7/1/2052 | 0.008147 | | | MI ST UNIV BRD-A-REF | 0.008081 | | | University of Michigan, Series 2017 A, Ref. RB | 0.007906 | | | Trenton Public Schools School District, Series 2018, GO Bonds | 0.007816 | | | MICHIGAN ST HSG DEV AUTH SF MTGE REVENUE | 0.007787 | | | Capital Trust Authority, Series 2024 | 0.007782 | ✓ | | MICHIGAN ST HSG DEV AUTH SF MTGE REVENUE | 0.007755 | | | OAKLAND UNIV MI REVENUE REGD B/E 5.00000000 | 0.007675 | | | Capital Trust Agency, Inc., Series 2021 A-1 | 0.007429 | | | WAYNE ST UNIV-A-GEN | 0.007164 | | | Kent Hospital Finance Authority, Series 2021 A | 0.006738 | | | Gull Lake Community School District, Series 2018 I | 0.006276 | | | MACOMB MI INTERCEPT-A | 0.006251 | | | Michigan Finance Authority, Series 2024 B | 0.006081 | | | STATE OF MICHIGAN 4.0% 10-15-52 | 0.006047 | | | Wayne (County of), MI Airport Authority (Detroit Metropolitan Wayne County Airport), Series 2021 A, RB | 0.005882 | | ## Sources - N-PORT (fund A) — accession `0002071691-26-008650` (as of 2026-02-28) - N-PORT (fund B) — accession `0002071691-26-008604` (as of 2026-02-28) --- _Informational only — not investment advice. 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