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Managed Fund Since 2004
Equity
FDTRX Franklin DynaTech Fund
- Participate in trends moving markets. Invest in companies across multiple sectors, including technology, health care and global communications, that managers believe are leaders in innovation.
- Experienced portfolio management Team. Actively managed by a seasoned portfolio management team that is based in Silicon Valley and has history of investing in "Dynamic Technology" since 1968.
- Complement your portfolio. Can be used as a core US equity holding or as a satellite position in your portfolio to help increase exposure to innovation themed companies.
Popular Documents
Total Net Assets
$29.83B
As of 09/30/2026 (Updated Monthly)
Overview
Fund Facts
Fund description
The fund seeks capital appreciation by investing primarily in companies which management believes are leaders in innovation, take advantage of new technologies, have superior management, and benefit from new industry conditions in the dynamically changing global economy.
- Benchmark
- Russell 1000 Growth Index
- Additional Benchmark
- S&P 500 Index
- Fund Inception Date
- 01/01/1968
- Dividend Frequency, if any
- Annually
- Portfolio Turnover
- 30%
Sales Charges, Expenses & Fees
As of 02/01/2026- Gross Expense Ratio
- 0.44%
- Net Expense Ratio
4 - 0.44%
- Maximum Initial Charge
- —
- CDSC
- N/A
- 12b-1 Fee
- N/A
Identifiers
- Ticker
- FDTRX
- Fund Number
- 328
- CUSIP Code
- 353496656
Average Annual Total Returns As of 09/30/2026
Class R6
- 11.86%1 Year
- 26.32%3 Years
- 8.81%5 Years
- 17.74%10 Years
- 10.69%Since Inception
01/01/1968
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.
Top Sectors
As of 09/30/2026 % of Total (Updated Monthly)
Information Technology57.67% | |
Communication Services12.25% | |
Consumer Discretionary10.84% | |
Health Care10.22% | |
Industrials5.37% |
Additional Fund Info
- Share Class Inception Date
- 05/01/2013
- Investment Style
- Growth
- Lipper Classification
- Large-Cap Growth Funds
- Morningstar Category
5 - Large Growth
Manager and Commentary
About the Team
Franklin Equity understands innovation from every angle—our decades of experience investing in complex change fuels a differentiated perspective on how public and private companies accelerate growth and unlock value. Leveraging fundamental depth and quantitative precision, we identify catalysts for transformation that reshape companies and industries. Our expertise, spanning from growth to value, brings together diverse perspectives that help us spot opportunities ahead of the market.
Commentary Highlights
September 30, 2026- Markets: Robust corporate earnings helped global equities edged higher in the third quarter of 2026 (3Q26) and set several records despite a volatile backdrop: war-related trade risks sent Brent crude oil back above US$100 per barrel, more than 80% of developed market central banks raised interest rates, and Washington announced a new round of US tariffs, while US Treasury yields climbed to multidecade highs. Stock market gains were modest and narrowly driven among the 11 major equity sectors, with only energy, information technology (IT), health care and communication services finishing positive as rallying AI- and energy-related names masked declines across most industries.
- Contributors: Relative outperformance in nine out of 11 equity sectors, with consumer discretionary, health care, industrials and communication services providing most of the excess return, mostly due to strong stock selection.
- Detractors: Security selection drags in IT, especially for tech hardware, memory and semiconductor holdings, though a lighter-than-index stake in rallying software stocks also had a negative impact.
- Outlook: We remain optimistic about the global buildout of AI infrastructure. From semiconductors and memory to networking, power architecture and advanced cooling, companies are investing heavily to support the growing demand for AI compute. We believe these investments are laying the groundwork for a new era of productivity growth, much as railroads, electricity and the internet enabled prior waves of economic transformation. As AI capabilities continue to improve and adoption broadens, we expect the infrastructure supporting this ecosystem to remain an important area of innovation and investment opportunity.
Franklin Equity
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Managed Fund Since 1968
Latest Insights
October 22, 2026
October 21, 2026
October 12, 2026
September 30, 2026
Performance
Average Annual Total Returns
As of 09/30/2026
Selected Month September 2026
Class R6 - With Sales Charge (POP) (%)
Month End
As of 09/30/2026
- 1 Year
- 11.86
- 3 Years
- 26.32
- 5 Years
- 8.81
- 10 Years
- 17.74
- Since Inception(01/01/1968)
- 10.69
Class R6 - Without Sales Charge (NAV) (%)
Month End
As of 09/30/2026
- 1 Year
- 11.86
- 3 Years
- 26.32
- 5 Years
- 8.81
- 10 Years
- 17.74
- Since Inception(01/01/1968)
- 10.69
Russell 1000 Growth Index (%)
Month End
As of 09/30/2026
- 1 Year
- 7.50
- 3 Years
- 24.26
- 5 Years
- 13.66
- 10 Years
- 18.16
- Since Inception(01/01/1968)
- —
S&P 500 Index (%)
Month End
As of 09/30/2026
- 1 Year
- 15.74
- 3 Years
- 22.88
- 5 Years
- 13.79
- 10 Years
- 15.33
- Since Inception(01/01/1968)
- 10.77
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 3
©2026 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 of09/30/2026 (Updated Monthly)
- Total Net Assets
- $29.83 Billion
Positions
As of 09/30/2026 (Updated Monthly)
Number of Issuers
- Fund
- 107
- Benchmark
- 371
Portfolio Statistics
As of 09/30/2026 (Updated Monthly)
Price to Earnings (12-Month Forward)
- Fund
- 23.85x
- Benchmark
- 25.96x
- Fund
- 29.14x
- Benchmark
- 30.33x
- Fund
- 28.70x
- Benchmark
- 32.37x
- Fund
- 11.42x
- Benchmark
- 13.52x
- Fund
- $1,915.47 Billion
- Benchmark
- $2,301.71 Billion
Asset Allocation
As of 09/30/2026 % of Total (Updated Monthly)
| Holdings | Fund |
|---|---|
Equity | 99.78% |
Cash & Cash Equivalents | 0.22% |
Holdings
As of 09/30/2026 (Updated Monthly)
NVIDIA Corp
Amazon.com Inc
Alphabet Inc
Meta Platforms Inc
Apple Inc
Broadcom Inc
Microsoft Corp
Taiwan Semiconductor Manufacturing Co Ltd
Sandisk Corp
Celestica Inc
Portfolio holdings are based on the total portfolio and are subject to change at any time. Holdings are provided for informational purposes only and should not be construed as a recommendation to purchase or sell any security.
Distributions & Tax
Federal ID Number 94-3025606
For information on tax years prior to 2008, please contact usThese amounts represent distributions paid by the fund, foreign taxes passed through (if any), and other distribution characteristics for the calendar year selected. These amounts are reported to shareholders on Form 1099-DIV.
Distributions per Share ($)
Dec 19
Supplemental Tax Information
- Foreign Source Income
- —
- Foreign Source Qualified Dividends
- —
- Direct U.S. Government Obligations
- —
- Specified Private Activity Bond Interest
- —
- Dividends Received Deduction
- —
- Section 163(j)
- —
- Indiana Resident Taxable Income
- —
- Utah Resident Taxable Income
- —
Franklin Templeton and its specialized investment managers and its employees are not in the business of providing tax or legal advice to taxpayers. These materials and any tax-related statements are not intended or written to be used, and cannot be used or relied upon, by any such taxpayer for the purpose of avoiding tax penalties or complying with any applicable tax laws or regulations. Tax-related statements, if any, may have been written in connection with the promotion or marketing of the transaction(s) or matter(s) addressed by these materials, to the extent allowed by applicable law. Each investor’s tax situation is different, and is based on an individual’s tax bracket, type of account used for investment and other factors. Any such taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax advisor.
Pricing
Documents
Fund Literature
Factsheet - Franklin DynaTech Fund
Portfolio Holdings - Franklin Dynatech Fund - 10/8/2026
Product Commentary - Franklin DynaTech Fund
Brochure - Franklin DynaTech Fund - Public
Flyer - Franklin DynaTech Investing in Innovation
Regulatory Documents
Annual Report - Franklin DynaTech Fund - Class R6
Annual Financial Statements and Other Information - Franklin Custodian Funds
Semi-Annual Report - Franklin DynaTech Fund - Class R6
Semi-Annual Financial Statements and Other Information - Franklin Custodian Funds
Prospectus - Franklin Custodian Funds
Summary Prospectus - Franklin Dynatech 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. Equity securities are subject to price fluctuation and possible loss of principal. The investment style may become out of favor, which may have a negative impact on performance. 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 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
Total Returns include change in share price, assume reinvestment of all distributions, and reflect the deduction of fund expenses and applicable fees. Total returns, distribution rate, and yields reflect any applicable expense reductions and fee waivers; without these reductions, the results would have been lower.
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.
Most funds offer multiple share classes. Share classes are subject to different fees and expenses, which will affect their performance.
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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.
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.
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.
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.
All Putnam-named funds and Franklin Retirement Advantage, Franklin Dynamic Asset Allocation, and Franklin Multi-Asset Income-named funds and Royce funds are not exchangeable for other funds distributed by Franklin Distributors, LLC.