![[Serena Perin Vintons avatar]](https://franklintempletonprod.widen.net/content/cdfjskya7g/webp/Vinton_Perin_Serena_500x500.png){kind=avatar}
Managed Fund Since 2008
Equity
FGSRX Franklin Growth Fund
- Focus on capital appreciation. A portfolio of primarily U.S.-based companies with the potential for sustainable long-term growth earnings and cash flow growth.
- Quality companies. The fund’s strategy emphasizes investing in quality companies with strong management teams and sustainable growth opportunities for multiple years.
- Experienced portfolio management team. Actively managed by a seasoned portfolio management team that utilizes a distinct research structure with specialists organized into collaborative sector teams.
Popular Documents
Overview
Fund Facts
Fund description
The fund seeks long-term capital appreciation by investing substantially in the equity securities of companies that are leaders in their industries, and which the managers believe are suitable for a buy-and-hold strategy.
- Benchmark
- S&P 500 Index
- Additional Benchmark
3 - Russell 1000 Growth Index
- Fund Inception Date
- 03/31/1948
- Dividend Frequency, if any
- Annually
- Portfolio Turnover
- 7%
Identifiers
- Ticker
- FGSRX
- Fund Number
- 806
- CUSIP Code
- 353496730
Average Annual Total Returns As of 10/31/2025
Class R
- 17.51%1 Year
- 20.39%3 Years
- 12.87%5 Years
- 13.49%10 Years
- 9.73%Since Inception
03/31/1948
Performance data quoted represents past performance, which does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the figures shown.
Top Sectors
As of 10/31/2025 % of Total (Updated Monthly)
Additional Fund Info
- Share Class Inception Date
- 01/02/2002
- Investment Style
- Growth
- Lipper Classification
- Large-Cap Growth Funds
- Morningstar Category
- Large Growth
Manager and Commentary
About the Team
Franklin Equity Group
Growth equity managers with a focus on in-depth fundamental research, we offer expertise in managing global, U.S. and sector-specific strategies across the market capitalization spectrum. Our center of gravity in Silicon Valley allows us to follow companies across their private to public life cycles, developing deeper insights into future industry trends and identifying potential disruptors.
Commentary Highlights
September 30, 2025- Markets: US equities delivered strong performance over the third quarter, buoyed, in part, by easing trade tensions and optimism surrounding artificial intelligence (AI). The US Federal Reserve’s (Fed’s) interest-rate cut in September also supported market sentiment, as did generally robust corporate earnings. Both the S&P 500 Index and the NASDAQ Composite Index ended the quarter at new record highs, while returns for the Dow Jones Industrial Average were more muted. In this environment, growth investing surpassed value in the large-capitalization tier, while it was the reverse in the mid- and small-capitalization segments, with small-cap stocks overall performing better than their large- and mid cap counterparts.
- Detractors: The fund’s (Advisor Class without sales charges) return lagged the S&P 500 Index benchmark as stock selection decisions worked against us, while allocation effects were mildly supportive. Stock selection in the consumer discretionary sector weighed most on relative performance, followed by stock selection in the information technology (IT) and financials sectors and stock selection and an overweight in the health care sector.
- Contributors: Relative performance was helped by an underweight and stock selection in the consumer staples sector and, to a lesser extent, stock selection in the communication services sector and an underweight in the real estate sector.
- Outlook: While headline risks continue to influence market sentiment, we think the bigger story for investors is technological innovations, particularly in artificial intelligence (Al). Advances in AI and related technologies are transforming many industries and, in our view, are creating growth potential for long-term investors. While optimistic about these technological innovations, we are carefully watching consumer spending trends and the cumulative effect of tariffs. We are also monitoring overall equity market valuations and maintaining our focus on areas where we see greater opportunity.
Franklin Equity Group
![[Robert Rendlers avatar]](https://franklintempletonprod.widen.net/content/mugkkjkclw/webp/Rendler_Robert_500x500.png){kind=avatar}
Managed Fund Since 2016
![[Joyce Lins avatar]](https://franklintempletonprod.widen.net/content/uv3s99iass/webp/Lin_Joyce_500x500.png){kind=avatar}
Managed Fund Since 2021
Latest Insights
October 13, 2025
October 1, 2025
October 1, 2025
Performance
Risk Measures
As of 10/31/2025
Class R - Without Sales Charge (NAV)
Measured against: S&P 500 Index
Statistics
Beta
Beta Bear
Bull Bear Capture Ratio
Beta Bull
Historical Tracking Error
Information Ratio
Standard Deviation (%)
Class R
S&P 500 Index
Sharpe Ratio (%)
Class R
Performance data quoted represents past performance, which does not guarantee future results. Current performance may be lower or higher than the figures shown. Principal value and investment returns will fluctuate, and investors' shares, when redeemed, may be worth more or less than the original cost. Performance would have been lower if fees had not been waived in various periods. Total returns assume the reinvestment of all distributions and the deduction of all Fund expenses. Returns with sales charge reflect a deduction of the stated maximum sales charge. Returns without sales charge would have been lower had sales charges been reflected. An investor cannot invest directly in an index, and unmanaged index returns do not reflect any fees, expenses or sales charges. Returns for periods of less than one year are not annualized.
Ratings 7
©2025 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
Portfolio
Assets
As of10/31/2025 (Updated Monthly)
- Total Net Assets
- $18.58 Billion
Positions
As of 10/31/2025 (Updated Monthly)
Number of Issuers
- Fund
- 89
- Benchmark
- 503
Portfolio Statistics
As of 10/31/2025 (Updated Monthly)
Price to Cash Flow
- Fund
- 26.97x
- Benchmark
- 19.89x
- Fund
- 32.19x
- Benchmark
- 25.23x
- Fund
- $1,327.46 Billion
- Benchmark
- $1,496.88 Billion
- Fund
- 8.09x
- Benchmark
- 5.49x
Asset Allocation
As of 10/31/2025 % of Total (Updated Monthly)
| Holdings | Fund |
|---|---|
Equity | 99.83% |
Cash & Cash Equivalents | 0.17% |
Holdings
As of 09/30/2025 (Updated Monthly)
NVIDIA Corp COM USD.001
Microsoft Corp COM USD0.001
Amazon.com Inc COM USD.01
Amphenol Corp COM USD.001 CL A
Apple Inc COM USD.00001
Mastercard Inc COM USD.0001 CL A
Broadcom Inc COM USD 1
Alphabet Inc COM USD.001 CL C
ASML Holding NV NY REGD USD.09
TE Connectivity PLC ORD USD 1
Portfolio holdings are based on the total portfolio and are subject to change at any time. Holdings are provided for informational purposes only and should not be construed as a recommendation to purchase or sell any security.
Distributions & Tax
- Distribution Frequency
- AnnuallyThis fund is an ex-Dividend fund
- Capital Gain Distributions
- December
Final composition of the current year’s distribution—income, capital gains and/or return of capital—are based on US tax rules and will be determined by February of the following year. For tax characterization of a distribution, such as return of capital and tax-exempt income, click on the “Tax Information” tab above.
Distributions Per Share
12/19/2025
Annually, a fund must distribute all realized capital gains net of realized losses, so the fund will not be subject to an entity level income tax. A fund’s capital gain distribution in a particular year may be a result of the disposition of holdings that appreciated in value during prior years. Thus, while the fund may gain or lose value over the course of a year, a capital gain distribution paid by the fund may not be indicative of current performance of the fund.
The distributable amount of net capital gains are paid on a per-share basis to all investors who hold shares of the fund on the record date of the distribution and are recognized by the shareholder for tax purposes as of the ex-date of the distribution, regardless of when the gains or losses arose in the fund. Net gains on holdings held long term by the fund would be distributed to shareholders as a long-term capital gain distribution no matter how long the shareholder has owned shares in the fund.
Refer to the fund’s annual report or statement of additional information for specific information regarding distributions.
Pricing
Pricing History
As of 11/13/2025 (Updated Daily)
Documents
Fund Literature
| Name | Download | Add to Cart | |
|---|---|---|---|
| Factsheet - Franklin Growth Fund | |||
| Product Commentary - Franklin Growth Fund | |||
| Investor Guide - Franklin Growth Fund - Advisor Class |
Regulatory Documents
| Name | Download | Add to Cart | |
|---|---|---|---|
| Annual Report - Franklin Growth Fund - Class R | |||
| Annual Financial Statements and Other Information - Franklin Custodian Funds | |||
| Semi-Annual Report - Franklin Growth Fund - Class R | |||
| Semi-Annual Financial Statements and Other Information - Franklin Custodian Funds | |||
| Prospectus - Franklin Custodian Funds | |||
| Summary Prospectus - Franklin Growth Fund | |||
| Statement of Additional Information - Franklin Custodian Funds | |||
| Fiscal Q1 Holdings - Franklin Custodian Funds | |||
| Fiscal Q3 Holdings - Franklin Custodian Funds |
Risks
All investments involve risks, including possible loss of principal. To the extent the portfolio invests in a concentration of certain securities, regions or industries, it is subject to increased volatility. Small- and mid-cap stocks involve greater risks and volatility than large-cap stocks. The investment style may become out of favor, which may have a negative impact on performance. International investments are subject to special risks, including currency fluctuations and social, economic and political uncertainties, which could increase volatility. These risks are magnified in emerging markets. The manager may consider environmental, social and governance (ESG) criteria in the research or investment process; however, ESG considerations may not be a determinative factor in security selection. In addition, the manager may not assess every investment for ESG criteria, and not every ESG factor may be identified or evaluated. These and other risks are discussed in the fund’s prospectus.
Important Information
Most funds offer multiple share classes. Share classes are subject to different fees and expenses, which will affect their performance.
Certain share classes are only offered to eligible investors as stated in the prospectus. Different minimums may apply to clients of certain service agents. All classes of shares are not available through all distribution channels. See the Fund's prospectus for additional information.
Franklin Distributors, LLC. Member FINRA, SIPC. All entities mentioned are Franklin Templeton affiliated companies. Investment Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE.
Reports and other information about the funds are available on the EDGAR Database on the SEC's Internet site at www.sec.gov.
You need Adobe Acrobat Reader to view and print PDF documents. Download a free version from Adobe's website.
Important data provider notices and terms available at www.franklintempletondatasources.com.
Performance data quoted represents past performance, which does not guarantee future results.
CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute.
Indexes are unmanaged and one cannot invest directly in an index. They do not reflect any fees, expenses or sales charges.
The Russell 1000 Growth Index measures the performance of the large-cap growth segment of the U.S. equity universe.
Source: FTSE.
The S&P 500 Index features 500 leading U.S. publicly traded companies, with a primary emphasis on market capitalization.
Source: © S&P Dow Jones Indices LLC. All rights reserved.
Investors should carefully consider a fund's investment goals, risks, sales charges and expenses before investing. The prospectus contains this and other information. Please read the prospectus carefully before investing or sending money.