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Managed Fund Since 2007
Equity
FRAAX Franklin Growth Opportunities Fund
- Tenured and experienced portfolio management team.
- Distinct research structure. Investment professionals organized into collaborative sector teams.
- Multi-cap strategy leads to a broadly diversified portfolio of fast-growing businesses.
Popular Documents
Overview
Fund Facts
Fund description
The fund seeks capital appreciation by investing predominantly in equity securities of companies demonstrating accelerating growth, increasing profitability, or above average growth or growth potential as compared with the overall economy.
- Benchmark
- Russell 3000 Growth Index
- Additional Benchmark
- S&P 500 Index
- Fund Inception Date
- 06/23/1999
- Dividend Frequency, if any
- Annually
- Portfolio Turnover
- 28%
Identifiers
- Ticker
- FRAAX
- Fund Number
- 662
- CUSIP Code
- 354713729
Average Annual Total Returns As of 10/31/2025
Advisor Class
- 14.68%1 Year
- 23.92%3 Years
- 10.89%5 Years
- 13.37%10 Years
- 10.68%Since Inception
06/23/1999
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
- 06/23/1999
- Investment Style
- Growth
- Lipper Classification
- Multi-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 of 2025, buoyed, in part, by easing trade tensions and optimism surrounding artificial intelligence (AI). The US Federal Reserve’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: Stock selection and an overweight in the industrials sector; stock selection in the communication services sector; and stock selection and an underweight in the information technology (IT) sector were the top detractors from performance relative to the Russell 3000 Growth Index benchmark.
- Contributors: Stock selection in the real estate sector offered a small relative contribution along with leading relative contributors at the stock level.
- Outlook: While headline risks continue to influence market sentiment, we think the bigger story for investors is technological innovations, particularly in artificial intelligence (AI). Advances in AI and related technologies are transforming industries and, in our view, creating growth potential for long-term investors. Innovative companies in sectors and industries across the economy are harnessing AI in their efforts to expand profit margins and drive revenue growth. We are seeing this in industries that deliver health care, manage logistics and more.
Franklin Equity Group
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Managed Fund Since 2016
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Managed Fund Since 2024
Latest Insights
October 13, 2025
October 1, 2025
October 1, 2025
Performance
Average Annual Total Returns
As of 10/31/2025
Selected Month October 2025
Advisor Class - With Sales Charge (POP) (%)
Month End
As of 10/31/2025
Advisor Class - Without Sales Charge (NAV) (%)
Month End
As of 10/31/2025
Russell 3000 Growth Index (%)
Month End
As of 10/31/2025
S&P 500 Index (%)
Month End
As of 10/31/2025
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 6
©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
- $4.78 Billion
Positions
As of 10/31/2025 (Updated Monthly)
Number of Issuers
- Fund
- 82
- Benchmark
- 1,486
Portfolio Statistics
As of 10/31/2025 (Updated Monthly)
Weighted Average Market Capitalization (USD)
- Fund
- $1,662.36 Billion
- Benchmark
- $1,994.49 Billion
- Fund
- 38.54x
- Benchmark
- 34.37x
- Fund
- 12.04x
- Benchmark
- 13.76x
- Fund
- 31.30x
- Benchmark
- 31.72x
Market Capitalization Allocation
As of 10/31/2025 % of Equity (Updated Monthly)
| Market Capitalization | Fund |
|---|---|
| <2.0 Billion | 0.23% |
| 2.0-5.0 Billion | 0.80% |
| 5.0-10.0 Billion | 1.44% |
| 10.0-25.0 Billion | 3.45% |
| 25.0-50.0 Billion | 5.99% |
| >50.0 Billion | 84.70% |
| N/A | 3.40% |
Holdings
As of 09/30/2025 (Updated Monthly)
NVIDIA Corp COM USD.001
Meta Platforms Inc COM USD NPV CL A
Microsoft Corp COM USD0.001
Broadcom Inc COM USD 1
Apple Inc COM USD.00001
Amazon.com Inc COM USD.01
Mastercard Inc COM USD.0001 CL A
Alphabet Inc COM USD.001 CL C
Netflix Inc COM USD.001
AXON ENTERPRISE INC COM USD.00001
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
Documents
Fund Literature
| Name | Download | Add to Cart | |
|---|---|---|---|
| Factsheet - Franklin Growth Opportunities Fund | |||
| Product Commentary - Franklin Growth Opportunities Fund |
Regulatory Documents
| Name | Download | Add to Cart | |
|---|---|---|---|
| Annual Report - Franklin Growth Opportunities Fund Advisor Class | |||
| Annual Financial Statements and Other Information - Franklin Strategic Series | |||
| Semi-Annual Report - Franklin Growth Opportunities Fund - Advisor Class | |||
| Semi-Annual Financial Statements and Other Information - Franklin Strategic Series 1 | |||
| Prospectus - Franklin Strategic Series 1 | |||
| Summary Prospectus - Franklin Growth Opportunities Fund | |||
| Statement of Additional Information - Franklin Strategic Series 1 | |||
| Fiscal Q1 Holdings - Franklin Strategic Series | |||
| Fiscal Q3 Holdings - Franklin Strategic Series |
Risks
All investments involve risks, including 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
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.
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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 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.
The Russell 3000 Growth Index measures the performance of those Russell 3000 Index companies with higher price-to-book ratios and higher forecasted growth values.
Source: FTSE.
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.