NAV 1
$154.03
POP 2
$162.99
YTD Total Return At NAV 3
15.34%
Morningstar Overall Rating™ 4
Overall Morningstar Rating
Rating Category: Large Growth
The fund's overall Morningstar Rating measures risk-adjusted returns and is derived from a weighted average of the performance figures associated with its 3-, 5- and 10-year (if applicable) rating metrics.
Morningstar Style Box
| Large | Size | |||
|---|---|---|---|---|
| Medium | ||||
| Small | ||||
| Value | Blend | Growth | ||
| Style | ||||
Source: Morningstar®. The style box reveals a fund's investment style. For equity funds, the vertical axis shows the market capitalization of the long stocks owned, and the horizontal axis shows the investment style (value, blend, or growth). For fixed income funds, the vertical axis shows the credit quality based on credit ratings and the horizontal axis shows interest-rate sensitivity as measured by effective duration. Placement is determined by fund portfolio holding figures most recently entered into Morningstar's database and corresponding market conditions. Shaded areas show the past 3 years of quarterly data. Past performance does not guarantee future results.
Historical Morningstar Ratings
| Years | 3 |
| Ratings | |
| Number of Funds In Category | 1009 |
| Years | 5 |
| Ratings | |
| Number of Funds In Category | 943 |
| Years | 10 |
| Ratings | |
| Number of Funds In Category | 755 |
©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.
Overview
- Fund Description
- Strategy & Benefits
- Investment Philosophy, Strategy and Approach
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.
Strategy Statement
"Our investments emphasize well-established companies and household names, which we hold for the long term. This has historically resulted in very low annual turnover for the fund."
Serena Perin Vinton, CFA®
Strategy & Benefits
Strategy
We use fundamental, bottom-up research to find large, established companies that meet our criteria of:
- Growth. Our team focuses on companies with the potential to produce sustainable earnings and cash-flow growth.
- Quality. We seek high-quality companies with strong management teams and financial strength.
- Valuation. We assess whether the growth opportunity is already reflected in the stock price.
Benefits
- Tenured and experienced portfolio management team.
- Distinct research structure. Investment professionals organized into collaborative sector teams.
- Historically low portfolio turnover ratio, based on long-term investment focus ranging three to ten years.
Investment Philosophy, Strategy and Approach
Investment Philosophy
The Franklin Equity Group philosophy holds that companies with the potential for long-term sustainable growth can provide significant opportunities for investors. Market participants can have a short-term perspective and may under appreciate the potential for value created by sustainable growth. We believe that we have the potential to deliver attractive risk-adjusted returns by identifying companies with potential for sustainable growth which we believe is not reflected in current prices.
Investment Process
Within a collaborative environment, our team utilizes fundamental, bottom-up research to focus on companies that we believe have sustainable growth characteristics—meeting our criteria of Growth, Quality and Valuation.
Our analysis includes an assessment of any material Environmental, Social and Governance (ESG) factors on the long-term risk and return profile of a company.
Growth
- Focus on companies with potential to produce sustainable earnings and cash flow growth
- Evaluate the long-term market opportunity and competitive structure of the industry seeking to identify target leaders and emerging leaders
Quality
- Seek companies with strong and improving competitive positions in attractive markets
- Identify experienced and talented management teams as well as financial strength reflected in the capital structure, gross and operating margins, free cash flow generation, and returns on capital
Valuation
- Consider a range of potential outcomes based on an assessment of multiple scenarios
- Evaluate whether, in our view, security prices fully reflect the balance of the sustainable growth opportunities relative to the business and financial risks
Fund Information
Portfolio Managers
Performance
- Average Annual Total Returns
- Calendar Year Returns
- Cumulative Total Returns
- Risk Measures
Average Annual Total Returns
Average Annual Total Returns 8
2025
Chart
Month End As of 11/30/2025 | 1 Year | 3 Years | 5 Years | 10 Years | Since Inception 03/31/1948 | |
|---|---|---|---|---|---|---|
| Class A - With Sales Charge (POP) (%) | 5.51 | 15.92 | 9.44 | 12.94 | 10.54 | |
| Class A - Without Sales Charge (NAV) (%) | 11.65 | 18.13 | 10.68 | 13.58 | 10.63 | |
| S&P 500 Index (%) | 15.00 | 20.57 | 15.28 | 14.63 | — |
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.
Calendar Year Returns
Calendar Year Returns 8
Chart
Month End As of 11/30/2025 | YTD | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | Performance Inception Date | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Class A - With Sales Charge (POP) (%) | 9.50 | 11.37 | 20.64 | -29.21 | 15.10 | 23.45 | 24.90 | -8.70 | 19.53 | 2.17 | -3.93 | 03/31/1948 | |
| Class A - Without Sales Charge (NAV) (%) | 15.88 | 17.85 | 27.66 | -25.09 | 21.80 | 30.64 | 32.17 | -3.39 | 26.82 | 8.41 | 1.94 | 03/31/1948 | |
| S&P 500 Index (%) | 17.81 | 25.02 | 26.29 | -18.11 | 28.71 | 18.40 | 31.49 | -4.38 | 21.83 | 11.96 | 1.38 | — |
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.
Cumulative Total Returns
Cumulative Total Returns 8
The hypothetical growth scenario of $10,000 does not reflect the deduction of brokerage commissions or taxes that investors may pay on distributions or the sale of shares. Had they been reflected hypothetical values would be lower.
1948
2025
Chart
Month End As of 11/30/2025 | YTD | 1 Year | 3 Years | 5 Years | 10 Years | 15 Years | Since Inception 03/31/1948 | |
|---|---|---|---|---|---|---|---|---|
| Class A - With Sales Charge (POP) (%) | 9.50 | 5.51 | 55.77 | 56.96 | 237.73 | 527.85 | 240,621.31 | |
| Class A - Without Sales Charge (NAV) (%) | 15.88 | 11.65 | 64.83 | 66.10 | 257.36 | 564.34 | 254,992.61 | |
| S&P 500 Index (%) | 17.81 | 15.00 | 75.28 | 103.57 | 291.75 | 667.53 | — |
Historical Cumulative Total Returns
2025
Date Selected As of 11/30/2025 | YTD | 1 Year | 3 Years | 5 Years | 10 Years | 15 Years | Since Inception 03/31/1948 | |
|---|---|---|---|---|---|---|---|---|
| Class A - With Sales Charge (POP) (%) | 9.50 | 5.51 | 55.77 | 56.96 | 237.73 | 527.85 | 240,621.31 | |
| Class A - Without Sales Charge (NAV) (%) | 15.88 | 11.65 | 64.83 | 66.10 | 257.36 | 564.34 | 254,992.61 | |
| S&P 500 Index (%) | 17.81 | 15.00 | 75.28 | 103.57 | 291.75 | 667.53 | — |
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.
If the sales charge (if applicable) had been included, the return would have been lower.
Risk Measures
Risk Measures8
| Statistics | 3 Years | 5 Years | 10 Years |
|---|---|---|---|
| Beta | 1.05 | 1.07 | 1.04 |
| Bull Bear Capture Ratio | 0.89 | 0.84 | 0.95 |
| Beta Bear | 1.08 | 1.07 | 1.03 |
| Beta Bull | 1.12 | 1.11 | 1.06 |
| Historical Tracking Error | 4.70 | 4.04 | 3.64 |
| Information Ratio | -0.78 | -1.14 | -0.29 |
| Standard Deviation (%) | 3 Years | 5 Years | 10 Years |
|---|---|---|---|
| Class A - Without Sales Charge (NAV) | 14.99 | 16.60 | 16.09 |
| S&P 500 Index | 15.24 | 15.01 | 15.08 |
| Sharpe Ratio (%) | 3 Years | 5 Years | 10 Years |
|---|---|---|---|
| Class A - Without Sales Charge (NAV) | 0.99 | 0.45 | 0.71 |
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.
Portfolio
Assets
Positions
| Fund | Benchmark | |
|---|---|---|
| Number of Issuers | 87 | 503 |
Portfolio Statistics
| Fund | Benchmark | |
|---|---|---|
| Price to Cash Flow | 27.60x | 19.92x |
| Price to Earnings (12-Month Forward) | 31.66x | 25.02x |
| Weighted Average Market Capitalization (USD) | $1,280.45 Billion | $1,441.73 Billion |
| Price to Book | 8.02x | 5.44x |
Portfolio Allocations
- Assets
- Sector
- Market Capitalization
Assets
Asset Allocation
Chart
| Fund | ||
|---|---|---|
| Equity | 99.54% | |
| Cash & Cash Equivalents | 0.46% |
Sector
Sector Allocation
Chart
| Fund | Benchmark | ||
|---|---|---|---|
| Semiconductors & Semiconductor Equipment | 16.03% | 14.13% | |
| Software & Services | 15.80% | 11.26% | |
| Capital Goods | 13.93% | 5.80% | |
| Financial Services | 9.24% | 7.79% | |
| Technology Hardware & Equipment | 8.77% | 9.18% | |
| Pharmaceuticals, Biotechnology & Life Sciences | 8.43% | 5.95% | |
| Media & Entertainment | 7.38% | 9.92% | |
| Consumer Discretionary Distribution & Retail | 5.08% | 5.64% | |
| Health Care Equipment & Services | 4.14% | 3.82% | |
| Materials | 3.34% | 1.67% | |
| Transportation | 2.06% | 1.29% | |
| Food, Beverage & Tobacco | 1.25% | 2.13% | |
| Utilities | 1.15% | 2.37% | |
| Consumer Staples Distribution & Retail | 1.10% | 1.80% | |
| Commercial & Professional Services | 1.04% | 0.94% | |
| Consumer Services | 0.78% | 1.77% | |
| Cash & Cash Equivalents | 0.46% | — |
Market Capitalization
Market Capitalization Allocation
Chart
| Fund | ||
|---|---|---|
| <2.0 Billion | 0.10% | |
| 2.0-5.0 Billion | 0.07% | |
| 10.0-25.0 Billion | 4.47% | |
| 25.0-50.0 Billion | 9.26% | |
| >50.0 Billion | 85.65% | |
| N/A | 0.46% |
Portfolio Holdings
- Holdings
- Top Ten Holdings
Holdings
Holdings
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.
Top Ten Holdings
Top Equity Issuers
Chart
| Fund | ||
|---|---|---|
| NVIDIA CORP | 7.95% | |
| MICROSOFT CORP | 6.97% | |
| ALPHABET INC | 5.31% | |
| AMAZON.COM INC | 4.60% | |
| AMPHENOL CORP | 3.74% | |
| APPLE INC | 3.32% | |
| BROADCOM INC | 3.14% | |
| MASTERCARD INC | 2.60% | |
| ASML HOLDING NV | 2.19% | |
| INTUITIVE SURGICAL INC | 1.74% |
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 Schedules
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
Current Year Distributions Per Share
| Record Date | Ex-Dividend Date | Reinvestment Date | Payable Date | Reinvestment Amount | Long-Term Capital Gains | Short-Term Capital Gains | Income | Total Distribution Per Share |
|---|---|---|---|---|---|---|---|---|
| 12/19/2025 | 12/22/2025 | 12/22/2025 | 12/22/2025 | — | $19.0390-$20.9430 Estimates | $0.0460-$0.0560 Estimates | — | — Estimates |
Historical Distributions Per Share
- 2024
- 2023
- 2022
- 2021
- 2020
- 2019
- 2018
- 2017
- 2016
- 2015
- 2014
- 2013
- 2012
- 2011
- 2010
- 2009
- 2008
- 2007
- 2006
- 2005
- 2004
- 2003
- 2002
- 2001
- 2000
- 1999
- 1998
- 1997
- 1996
- 1995
- 1994
- 1993
- 1992
- 1991
- 1990
- 1989
- 1988
- 1987
- 1986
- 1985
- 1984
- 1983
- 1982
- 1981
- 1980
- 1979
- 1978
- 1977
- 1976
- 1975
- 1974
- 1973
- 1972
- 1971
- 1970
- 1969
- 1968
- 1967
- 1966
- 1965
- 1964
- 1963
- 1962
- 1961
- 1960
- 1959
- 1958
- 1957
- 1956
- 1955
- 1954
- 1953
- 1952
- 1951
- 1950
- 1949
- 1948
- Since Inception
| Record Date | Ex-Dividend Date | Reinvestment Date | Payable Date | Reinvestment Amount | Long-Term Capital Gains | Short-Term Capital Gains | Income | Total Distribution Per Share |
|---|---|---|---|---|---|---|---|---|
| 12/19/2024 | 12/20/2024 | 12/20/2024 | 12/20/2024 | $135.33 | $11.0841 | — | $0.0543 | $11.1384 |
| 12/19/2023 | 12/20/2023 | 12/20/2023 | 12/20/2023 | $120.60 | $7.4541 | — | $0.2219 | $7.676 |
| 12/14/2022 | 12/15/2022 | 12/15/2022 | 12/15/2022 | $103.92 | $10.7138 | — | — | $10.7138 |
| 11/30/2021 | 12/01/2021 | 12/01/2021 | 12/01/2021 | — | $13.7618 | $0.0588 | — | $13.8206 |
| 11/30/2020 | 12/01/2020 | 12/01/2020 | 12/01/2020 | $130.62 | $10.6145 | — | $0.1833 | $10.7978 |
| 11/29/2019 | 12/02/2019 | 12/02/2019 | 12/04/2019 | $108.25 | $5.9943 | — | $0.4554 | $6.4497 |
| 11/30/2018 | 12/03/2018 | 12/03/2018 | 12/05/2018 | $100.24 | $1.0435 | — | $0.4377 | $1.4812 |
| 11/30/2017 | 12/01/2017 | 12/01/2017 | 12/05/2017 | $93.37 | $2.2538 | — | $0.3618 | $2.6156 |
| 11/30/2016 | 12/01/2016 | 12/01/2016 | 12/05/2016 | $75.47 | $2.4961 | — | $0.3928 | $2.8889 |
| 11/30/2015 | 12/01/2015 | 12/01/2015 | 12/03/2015 | $75.47 | $2.3723 | — | $0.4747 | $2.847 |
| 11/28/2014 | 12/01/2014 | 12/01/2014 | 12/03/2014 | $74.42 | — | — | $0.1859 | $0.1859 |
| 11/29/2013 | 12/02/2013 | 12/02/2013 | 12/04/2013 | $63.42 | — | — | $0.2953 | $0.2953 |
| 11/30/2012 | 12/03/2012 | 12/03/2012 | 12/05/2012 | $49.83 | — | — | $0.1412 | $0.1412 |
| 11/30/2011 | 12/01/2011 | 12/01/2011 | 12/05/2011 | $44.81 | $0.1237 | — | $0.1573 | $0.281 |
| 11/30/2010 | 12/01/2010 | 12/01/2010 | 12/03/2010 | $43.31 | — | — | $0.1768 | $0.1768 |
| 11/30/2009 | 12/01/2009 | 12/01/2009 | 12/03/2009 | $38.24 | — | — | $0.282 | $0.282 |
| 11/28/2008 | 12/01/2008 | 12/01/2008 | 12/03/2008 | $26.13 | — | — | $0.3065 | $0.3065 |
| 11/30/2007 | 12/03/2007 | 12/03/2007 | 12/05/2007 | $45.42 | — | — | $0.1302 | $0.1302 |
| 11/30/2006 | 12/01/2006 | 12/01/2006 | 12/05/2006 | $41.51 | — | — | $0.1064 | $0.1064 |
| 11/30/2005 | 12/01/2005 | 12/01/2005 | 12/05/2005 | $36.73 | — | — | $0.0644 | $0.0644 |
| 11/30/2004 | 12/01/2004 | 12/01/2004 | 12/03/2004 | $33.26 | — | — | $0.0787 | $0.0787 |
| 11/28/2003 | 12/01/2003 | 12/01/2003 | 12/03/2003 | $29.17 | — | — | $0.0289 | $0.0289 |
| 11/29/2002 | 12/02/2002 | 12/02/2002 | 12/04/2002 | $25.07 | — | — | $0.0389 | $0.0389 |
| 11/30/2001 | 12/03/2001 | 12/03/2001 | 12/05/2001 | $31.06 | $0.0452 | — | $0.155 | $0.2002 |
| 11/30/2000 | 12/01/2000 | 12/01/2000 | 12/05/2000 | $34.34 | $1.5846 | $0.0828 | $0.4015 | $2.0689 |
| 11/30/1999 | 12/01/1999 | 12/01/1999 | 12/15/1999 | $33.37 | $0.2637 | — | $0.4543 | $0.718 |
| 11/30/1998 | 12/01/1998 | 12/01/1998 | 12/15/1998 | $31.00 | $0.1668 | $0.0418 | $0.4397 | $0.6483 |
| 11/28/1997 | 12/01/1997 | 12/01/1997 | 12/15/1997 | $27.17 | $0.2023 | $0.0327 | $0.466 | $0.701 |
| 11/29/1996 | 12/02/1996 | 12/02/1996 | 12/13/1996 | $23.92 | $0.202 | — | $0.227 | $0.429 |
| 11/30/1995 | 12/01/1995 | 12/01/1995 | 12/15/1995 | $20.28 | $0.153 | $0.0014 | $0.1638 | $0.3182 |
| — | 12/01/1994 | 12/06/1994 | — | $14.70 | $0.0375984 | $0.0044016 | $0.135 | $0.177 |
| — | 12/01/1993 | 12/07/1993 | — | $14.57 | $0.0709 | $0.0111 | $0.297 | $0.379 |
| — | 12/01/1992 | 12/04/1992 | — | $14.02 | $0.068 | — | $0.189 | $0.257 |
| — | 12/02/1991 | 12/09/1991 | — | $12.865 | $0.1730014 | $0.1259986 | $0.706 | $1.005 |
| — | 12/03/1990 | 12/07/1990 | — | $11.425 | — | — | $0.2675 | $0.2675 |
| — | 12/22/1989 | 12/26/1989 | — | $11.295 | — | — | $0.2055 | $0.2055 |
| — | 12/23/1988 | 12/28/1988 | — | $9.57 | — | — | $0.2205 | $0.2205 |
| — | 12/28/1987 | 12/30/1987 | — | $9.045 | — | — | $0.202 | $0.202 |
| — | 01/15/1987 | 01/22/1987 | — | $8.805 | — | — | $0.15 | $0.15 |
| — | 01/02/1986 | 01/23/1986 | — | $6.90 | — | — | $0.13 | $0.13 |
| — | 01/02/1985 | 01/23/1985 | — | $6.015 | — | — | $0.13 | $0.13 |
| — | 01/03/1984 | 01/24/1984 | — | $5.715 | — | — | $0.10 | $0.10 |
| — | 01/03/1983 | 01/20/1983 | — | $5.06 | — | — | $0.0625 | $0.0625 |
| — | 01/04/1982 | 01/26/1982 | — | $3.375 | — | — | $0.05 | $0.05 |
| — | 01/02/1981 | 01/23/1981 | — | $3.675 | — | — | $0.055 | $0.055 |
| — | 01/02/1980 | 01/24/1980 | — | $3.41 | — | — | $0.05 | $0.05 |
| — | 01/02/1979 | 01/22/1979 | — | $3.25 | — | — | $0.04 | $0.04 |
| — | 01/03/1978 | 01/18/1978 | — | $2.64 | — | — | $0.04 | $0.04 |
| — | 01/03/1977 | 01/19/1977 | — | $2.79 | — | — | $0.05 | $0.05 |
| — | 01/02/1976 | 01/21/1976 | — | $2.87 | — | — | $0.055 | $0.055 |
| — | 01/02/1975 | 01/10/1975 | — | $2.49 | — | — | $0.0375 | $0.0375 |
| — | 01/02/1974 | 01/18/1974 | — | $3.185 | — | — | $0.025 | $0.025 |
| — | 01/02/1973 | 01/15/1973 | — | $4.005 | — | — | $0.01 | $0.01 |
| — | 01/03/1972 | 01/17/1972 | — | $3.59 | — | — | $0.02 | $0.02 |
| — | 01/04/1971 | 01/15/1971 | — | $2.97 | — | — | $0.01 | $0.01 |
| — | 07/01/1970 | 07/15/1970 | — | $2.60953 | — | — | $0.009525 | $0.009525 |
| — | 04/01/1970 | 04/15/1970 | — | $3.15714 | — | — | $0.009525 | $0.009525 |
| — | 01/02/1970 | 01/10/1970 | — | $3.49047 | — | — | $0.009525 | $0.009525 |
| — | 10/01/1969 | 10/15/1969 | — | $3.60544 | — | — | $0.00907 | $0.00907 |
| — | 07/02/1969 | 07/15/1969 | — | $3.39229 | — | — | $0.00907 | $0.00907 |
| — | 04/02/1969 | 04/15/1969 | — | $3.60997 | — | — | $0.00907 | $0.00907 |
| — | 01/02/1969 | 01/15/1969 | — | $3.62812 | — | — | $0.00907 | $0.00907 |
| — | 10/01/1968 | 10/15/1968 | — | $4.03174 | — | — | $0.00907 | $0.00907 |
| — | 07/01/1968 | 07/15/1968 | — | $3.96825 | — | — | $0.013605 | $0.013605 |
| — | 04/01/1968 | 04/15/1968 | — | $3.5873 | — | — | $0.013605 | $0.013605 |
| — | 01/02/1968 | 01/15/1968 | — | $3.68254 | — | — | $0.015875 | $0.015875 |
| — | 10/02/1967 | 10/16/1967 | — | $3.53288 | — | — | $0.015875 | $0.015875 |
| — | 07/03/1967 | 07/17/1967 | — | $3.89115 | — | — | $0.01814 | $0.01814 |
| — | 04/03/1967 | 04/17/1967 | — | $3.74603 | — | — | $0.01814 | $0.01814 |
| — | 01/03/1967 | 01/16/1967 | — | $3.37415 | — | — | $0.01814 | $0.01814 |
| — | 10/01/1966 | 10/17/1966 | — | $2.94331 | — | — | $0.015875 | $0.015875 |
| — | 07/01/1966 | 07/15/1966 | — | $3.71882 | — | — | $0.01814 | $0.01814 |
| — | 04/01/1966 | 04/15/1966 | — | $4.00453 | — | — | $0.015875 | $0.015875 |
| — | 01/05/1966 | 01/17/1966 | — | $3.9093 | — | — | $0.01814 | $0.01814 |
| — | 10/01/1965 | 10/15/1965 | — | $3.62812 | — | — | $0.015875 | $0.015875 |
| — | 07/01/1965 | 07/15/1965 | — | $3.46032 | — | — | $0.015875 | $0.015875 |
| — | 04/01/1965 | 04/15/1965 | — | $3.67801 | — | — | $0.015875 | $0.015875 |
| — | 01/04/1965 | 01/18/1965 | — | $3.47392 | — | — | $0.01814 | $0.01814 |
| — | 10/01/1964 | 10/15/1964 | — | $3.39683 | — | — | $0.015875 | $0.015875 |
| — | 07/01/1964 | 07/15/1964 | — | $3.55102 | — | — | $0.015875 | $0.015875 |
| — | 04/01/1964 | 04/15/1964 | — | $3.48299 | — | — | $0.013605 | $0.013605 |
| — | 01/02/1964 | 01/15/1964 | — | $3.32426 | — | — | $0.01134 | $0.01134 |
| — | 10/01/1963 | 10/15/1963 | — | $3.23356 | — | — | $0.00907 | $0.00907 |
| — | 07/01/1963 | 07/15/1963 | — | $3.22903 | — | — | $0.01134 | $0.01134 |
| — | 04/01/1963 | 04/15/1963 | — | $3.15192 | — | — | $0.01134 | $0.01134 |
| — | 01/02/1963 | 01/15/1963 | — | $3.00226 | — | — | $0.01814 | $0.01814 |
| — | 10/03/1962 | 10/15/1962 | — | $2.62132 | — | — | $0.01134 | $0.01134 |
| — | 07/02/1962 | 07/16/1962 | — | $2.78458 | — | — | $0.01814 | $0.01814 |
| — | 04/02/1962 | 04/15/1962 | — | $3.36055 | — | — | $0.01814 | $0.01814 |
| — | 01/02/1962 | 01/15/1962 | — | $3.52381 | — | — | $0.01814 | $0.01814 |
| — | 10/02/1961 | 10/15/1961 | — | $3.18825 | — | — | $0.01814 | $0.01814 |
| — | 07/03/1961 | 07/14/1961 | — | $3.14739 | — | — | $0.01134 | $0.01134 |
| — | 04/03/1961 | 04/14/1961 | — | $3.50114 | — | — | $0.02041 | $0.02041 |
| — | 01/02/1961 | 01/15/1961 | — | $2.78458 | — | — | $0.02041 | $0.02041 |
| — | 10/03/1960 | 10/15/1960 | — | $2.52157 | — | — | $0.02041 | $0.02041 |
| — | 07/01/1960 | 07/15/1960 | — | $2.70295 | — | — | $0.02041 | $0.02041 |
| — | 04/01/1960 | 04/15/1960 | — | $2.57143 | — | — | $0.02041 | $0.02041 |
| — | 01/14/1960 | 01/15/1960 | — | $2.62132 | — | — | $0.02041 | $0.02041 |
| — | 10/01/1959 | 10/15/1959 | — | $2.57369 | — | — | $0.02041 | $0.02041 |
| — | 07/01/1959 | 07/14/1959 | — | $2.82313 | — | — | $0.02041 | $0.02041 |
| — | 04/01/1959 | 04/14/1959 | — | $2.73696 | — | — | $0.02041 | $0.02041 |
| — | 01/02/1959 | 01/14/1959 | — | $2.53288 | — | — | $0.02041 | $0.02041 |
| — | 10/01/1958 | 10/15/1958 | — | $2.20861 | — | — | $0.02041 | $0.02041 |
| — | 07/01/1958 | 07/15/1958 | — | $2.10885 | — | — | $0.02041 | $0.02041 |
| — | 04/01/1958 | 04/15/1958 | — | $1.97279 | — | — | $0.02041 | $0.02041 |
| — | 01/02/1958 | 01/15/1958 | — | $1.89342 | — | — | $0.02041 | $0.02041 |
| — | 12/02/1957 | 12/15/1957 | — | $1.86621 | — | — | $0.03855 | $0.03855 |
| — | 10/01/1957 | 10/15/1957 | — | $1.91383 | — | — | $0.02041 | $0.02041 |
| — | 07/02/1957 | 07/15/1957 | — | $2.48073 | — | — | $0.02041 | $0.02041 |
| — | 04/01/1957 | 04/15/1957 | — | $2.30612 | — | — | $0.02041 | $0.02041 |
| — | 01/02/1957 | 01/15/1957 | — | $2.30159 | — | — | $0.02041 | $0.02041 |
| — | 10/01/1956 | 10/15/1956 | — | $2.36734 | — | — | $0.01814 | $0.01814 |
| — | 07/02/1956 | 07/15/1956 | — | $2.42857 | — | — | $0.01814 | $0.01814 |
| — | 04/02/1956 | 04/15/1956 | — | $2.36508 | — | — | $0.01814 | $0.01814 |
| — | 01/03/1956 | 01/15/1956 | — | $2.22675 | — | — | $0.01814 | $0.01814 |
| — | 10/11/1955 | 10/24/1955 | — | $2.14966 | — | — | $0.00281 | $0.00281 |
| — | 10/03/1955 | 10/15/1955 | — | $2.0907 | — | — | $0.01814 | $0.01814 |
| — | 07/01/1955 | 07/15/1955 | — | $2.31519 | — | — | $0.01814 | $0.01814 |
| — | 04/01/1955 | 04/15/1955 | — | $2.20181 | — | — | $0.01814 | $0.01814 |
| — | 01/03/1955 | 01/15/1955 | — | $2.04762 | — | — | $0.01814 | $0.01814 |
| — | 10/15/1954 | 10/23/1954 | — | $1.77778 | — | — | $0.00907 | $0.00907 |
| — | 10/01/1954 | 10/15/1954 | — | $1.75283 | — | — | $0.01814 | $0.01814 |
| — | 07/01/1954 | 07/15/1954 | — | $1.78005 | — | — | $0.01814 | $0.01814 |
| — | 04/01/1954 | 04/15/1954 | — | $1.61224 | — | — | $0.01814 | $0.01814 |
| — | 01/01/1954 | 01/15/1954 | — | $1.46712 | — | — | $0.01814 | $0.01814 |
| — | 10/01/1953 | 10/15/1953 | — | $1.36281 | — | — | $0.01814 | $0.01814 |
| — | 07/01/1953 | 07/15/1953 | — | $1.46938 | — | — | $0.01814 | $0.01814 |
| — | 04/01/1953 | 04/15/1953 | — | $1.53061 | — | — | $0.01814 | $0.01814 |
| — | 01/02/1953 | 01/15/1953 | — | $1.56916 | — | — | $0.01814 | $0.01814 |
| — | 10/15/1952 | 10/22/1952 | — | $1.44898 | — | — | $0.00612 | $0.00612 |
| — | 10/01/1952 | 10/15/1952 | — | $1.46259 | — | — | $0.01814 | $0.01814 |
| — | 07/01/1952 | 07/15/1952 | — | $1.57823 | — | — | $0.01814 | $0.01814 |
| — | 04/01/1952 | 04/15/1952 | — | $1.46485 | — | — | $0.01814 | $0.01814 |
| — | 01/02/1952 | 01/15/1952 | — | $1.45805 | — | — | $0.01814 | $0.01814 |
| — | 10/01/1951 | 10/15/1951 | — | $1.46712 | — | — | $0.01814 | $0.01814 |
| — | 09/25/1951 | 09/29/1951 | — | $1.44898 | — | — | $0.013605 | $0.013605 |
| — | 07/02/1951 | 07/15/1951 | — | $1.39229 | — | — | $0.01814 | $0.01814 |
| — | 04/02/1951 | 04/14/1951 | — | $1.43538 | — | — | $0.015875 | $0.015875 |
| — | 01/02/1951 | 01/15/1951 | — | $1.37415 | — | — | $0.015875 | $0.015875 |
| — | 10/02/1950 | 10/15/1950 | — | $1.26077 | — | — | $0.015875 | $0.015875 |
| — | 09/25/1950 | 09/29/1950 | — | $1.2653 | — | — | $0.009525 | $0.009525 |
| — | 07/03/1950 | 07/15/1950 | — | $1.11338 | — | — | $0.015875 | $0.015875 |
| — | 04/01/1950 | 04/15/1950 | — | $1.21768 | — | — | $0.015875 | $0.015875 |
| — | 01/03/1950 | 01/15/1950 | — | $1.16326 | — | — | $0.015875 | $0.015875 |
| — | 10/01/1949 | 10/15/1949 | — | $1.07709 | — | — | $0.015875 | $0.015875 |
| — | 09/26/1949 | 09/29/1949 | — | $1.06349 | — | — | $0.00839 | $0.00839 |
| — | 06/30/1949 | 07/15/1949 | — | $1.00453 | — | — | $0.01814 | $0.01814 |
| — | 04/01/1949 | 04/15/1949 | — | $1.03174 | — | — | $0.015875 | $0.015875 |
| — | 12/31/1948 | 01/15/1949 | — | $1.06349 | — | — | $0.015875 | $0.015875 |
| — | 09/30/1948 | 10/15/1948 | — | $1.14966 | — | — | $0.015875 | $0.015875 |
| — | 09/26/1948 | 09/29/1948 | — | $1.12018 | — | — | $0.012065 | $0.012065 |
| — | 06/30/1948 | 07/15/1948 | — | $1.21542 | — | — | $0.015875 | $0.015875 |
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 Chart
- 1 Month
- 3 Months
- 6 Months
- YTD
- 1 Year
- 3 Years
- 5 Years
- Since Inception
December 2025
| SuSunday | MoMonday | TuTuesday | WeWednesday | ThThursday | FrFriday | SaSaturday |
|---|---|---|---|---|---|---|
December 2025
| SuSunday | MoMonday | TuTuesday | WeWednesday | ThThursday | FrFriday | SaSaturday |
|---|---|---|---|---|---|---|
Chart
Daily Fund Prices and Breakpoints
52-Week Range
POP and Sales Charge at Breakpoints
Investment | Sales Charge | POP |
|---|---|---|
| Less than $25,000 | 5.50% | $162.99 |
| $25,000 - $49,999 | 5.25% | $162.56 |
| $50,000 - $99,999 | 4.50% | $161.29 |
| $100,000 - $249,999 | 3.50% | $159.62 |
| $250,000 - $499,999 | 2.50% | $157.98 |
| $500,000 - $749,999 | 2.00% | $157.17 |
| $750,000 - $999,999 | 1.50% | $156.38 |
POP and Sales Charge at Breakpoints
Historical Data - Daily Fund Prices
- 1 Month
- 3 Months
- 6 Months
- YTD
- 1 Year
- 3 Years
- 5 Years
- Since Inception
December 2025
| SuSunday | MoMonday | TuTuesday | WeWednesday | ThThursday | FrFriday | SaSaturday |
|---|---|---|---|---|---|---|
December 2025
| SuSunday | MoMonday | TuTuesday | WeWednesday | ThThursday | FrFriday | SaSaturday |
|---|---|---|---|---|---|---|
Historical Pricing Results From 11/10/2025 To 12/09/2025
| Date | NAV | POP | NAV Change | NAV Change (%) |
|---|---|---|---|---|
| 12/09/2025 | $154.03 | $162.99 | $-0.44 | -0.28% |
| 12/08/2025 | $154.47 | $163.46 | $-0.35 | — |
| 12/05/2025 | $154.82 | $163.83 | $0.14 | 0.09% |
| 12/04/2025 | $154.68 | $163.68 | $-0.06 | -0.04% |
| 12/03/2025 | $154.74 | $163.75 | $0.23 | 0.15% |
| 12/02/2025 | $154.51 | $163.50 | $0.69 | 0.45% |
| 12/01/2025 | $153.82 | $162.77 | $-0.92 | -0.59% |
| 11/28/2025 | $154.74 | $163.75 | $0.71 | 0.46% |
| 11/27/2025 | $154.03 | $162.99 | $0.66 | 0.00% |
| 11/26/2025 | $154.03 | $162.99 | $0.66 | 0.43% |
| 11/25/2025 | $153.37 | $162.30 | $1.40 | 0.92% |
| 11/24/2025 | $151.97 | $160.81 | $2.18 | 1.46% |
| 11/21/2025 | $149.79 | $158.51 | $1.43 | 0.96% |
| 11/20/2025 | $148.36 | $156.99 | $-2.61 | -1.73% |
| 11/19/2025 | $150.97 | $159.76 | $1.09 | 0.73% |
| 11/18/2025 | $149.88 | $158.60 | $-1.44 | — |
| 11/17/2025 | $151.32 | $160.13 | $-1.35 | -0.88% |
| 11/14/2025 | $152.67 | $161.56 | $-0.29 | -0.19% |
| 11/13/2025 | $152.96 | $161.86 | $-3.00 | -1.92% |
| 11/12/2025 | $155.96 | $165.04 | $0.04 | 0.03% |
| 11/11/2025 | $155.92 | $164.99 | $0.07 | 0.04% |
| 11/10/2025 | $155.85 | $164.92 | $2.55 | 1.66% |
Documents
- Product Literature
- Regulatory Documents
Product Literature
Factsheet - Franklin Growth Fund
Regulatory Documents
Semi-Annual Report - Franklin Growth Fund - Class A
Annual Report - Franklin Growth Fund - Class A
Prospectus - Franklin Custodian Funds
Summary Prospectus - Franklin Growth Fund
Statement of Additional Information - Franklin Custodian Funds
Mailed hardcopies unavailable.
Fiscal Q1 Holdings - Franklin Custodian Funds
Mailed hardcopies unavailable.
Fiscal Q3 Holdings - Franklin Custodian Funds
Mailed hardcopies unavailable.
Risks
What Are the 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
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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.
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 for periods of less than one year are not annualized. All classes of shares may not be available to all investors or through all distribution channels. For current month-end performance, please call Franklin Templeton at (800) DIAL BEN/(800) 342-5236 or visit www.franklintempleton.com.
Investors should carefully consider the 529 plan’s investment goals, risks, charges and expenses before investing. To obtain the Program Description, which contains this and other information, talk to your financial professional or call Franklin Distributors, LLC, the manager and underwriter for the 529 plan at (800) DIAL BEN/342-5236 or visit franklintempleton.com. You should read the Program Description carefully before investing and consider whether your, or the beneficiary’s, home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in its qualified tuition program.
Franklin Templeton's 529 College Savings Plan is offered and administered by the New Jersey Higher Education Student Assistance Authority (HESAA); managed and distributed by Franklin Distributors, LLC, which is a Franklin Templeton company.
Investments in Franklin Templeton’s 529 College Savings Plan are not insured by the FDIC or any other government agency and are not deposits or other obligations of any depository institution. Investments are not guaranteed by the State of New Jersey, Franklin Templeton, or its affiliates and are subject to risks, including loss of principal amount invested. Investing in the plan does not guarantee admission to any particular primary, secondary school or college, or sufficient funds for primary, secondary school or college.
This material is being provided for general informational and should not be considered or relied upon as legal, tax or investment advice or an investment recommendation, or as a substitute for legal or tax counsel and provided for educational and informational purposes only. Franklin Templeton does not provide legal or tax advice. Federal and state laws and regulations are complex and subject to change, which can materially impact your results. Franklin Templeton cannot guarantee that such information is accurate, complete or timely; and disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information.
Most 529 portfolios offer multiple share class options. 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 Program Description. Different minimums may apply to clients of certain service agents. All classes of shares are not available through all distribution channels. See the Program Description for additional information.
Effective November 18, 2024, there were investment-related enhancements. Please see Program Description for detailed information.
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.
FINANCIAL ADVISORS: Please note that not all share classes may be available for sale at your firm. Please call Franklin Templeton at (800) DIAL BEN/342-5236 for more information.
Footnotes
Net Asset Value - the amount per share you would receive if you sold shares that day. NAV Change indicates a change in the Net Asset Value from the previous business day.
Public Offering Price – the purchase price for each share of the fund on a given day. It includes the maximum initial sales charge, if any.
Figures are aggregate total return figures, have not been annualized and represent the change in value of an investment over the period indicated.
The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products with at least a three-year history, and subject to change monthly. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total return, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total return. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Ratings do not take into account the effects of sales charges and loads. Morningstar Rating is for the specified share class(es) only; other classes may have different performance characteristics.
Gross Expense Ratio reflects the total annual operating expenses for the share class shown, prior to the deduction of any waiver or reimbursement. Actual expenses may be higher and may impact portfolio returns. Net Expense Ratio reflects total expenses after any fee waivers, implemented expense caps or reimbursements. If a fund has contractual fee waivers, expense caps and/or reimbursements, the expiration date can be found by clicking on the information button next to the net expense ratio. Additional amounts may be voluntarily waived and/or reimbursed and may be modified or discontinued at any time without notice. Expense ratios are as of the most recent prospectus or annual report.
Net Expense Ratio represents the expense ratio applicable to investors.
For net asset value (NAV) purchases, a 1% contingent deferred sales charge (CDSC) may apply to shares redeemed within 18 months.
Prior to 9/10/18, these shares were offered at a higher initial sales charge of 5.75%; thus actual returns would have differed. Total returns with sales charges have been restated to reflect the current maximum initial sales charge of 5.50%.