# EDGAR Filing Document

**Accession Number:** 0000038721
**File Stem:** 0002071691-25-006460
**Filing Date:** 2025-11
**Character Count:** 20911
**Document Hash:** 3f3d9deb7a2d8a460536e9a7c764c4f7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002071691-25-006460.hdr.sgml**: 20251124

**ACCESSION NUMBER**: 0002071691-25-006460

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251124

**DATE AS OF CHANGE**: 20251124

**PERIOD START**: 20250930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Franklin Custodian Funds
- **CENTRAL INDEX KEY:** 0000038721

**ORGANIZATION NAME:**
- **EIN:** 132573775
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-00537
- **FILM NUMBER:** 251511830

**BUSINESS ADDRESS:**
- **STREET 1:** ONE FRANKLIN PARKWAY
- **CITY:** SAN MATEO
- **STATE:** CA
- **ZIP:** 94403-1906
- **BUSINESS PHONE:** 650-312-2000

**MAIL ADDRESS:**
- **STREET 1:** ONE FRANKLIN PARKWAY
- **CITY:** SAN MATEO
- **STATE:** CA
- **ZIP:** 94403-1906

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FRANKLIN CUSTODIAN FUNDS
- **DATE OF NAME CHANGE:** 20080128

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FRANKLIN CUSTODIAN FUNDS INC
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### FRANKLIN UTILITIES FUND (Series ID: S000006758)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000018340 | Class A1      | FKUTX           |
| C000018342 | Class C       | FRUSX           |
| C000018343 | Advisor Class | FRUAX           |
| C000018344 | Class R       | FRURX           |
| C000128789 | Class R6      | FUFRX           |
| C000199721 | Class A       | FKUQX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Franklin Custodian Funds

- **b. Investment Company Act file number:** 811-00537

- **c. CIK number of Registrant:** 0000038721

- **d. LEI of Registrant:** 549300PYEMTLTOE2MK86

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** One Franklin Parkway

  - **City:** San Mateo

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 94403-1906

  - **Telephone number:** 650-312-2000

**Item A.2. Information about the Series.**

- **a. Name of Series:** Franklin Utilities Fund

- **b. EDGAR series identifier (if any):** S000006758

- **c. LEI of Series:** 5493004WS5Z50HMQS896

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-09-30

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $7308864954.62

**Total Liabilities:** $6656599.79

**Net Assets:** $7302208354.83

**Cash Not Reported:** $1269614.04

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000199721 | 4.23%                | -0.92%               | 4.13%                |
| Class ID C000018343 | 4.26%                | -0.90%               | 4.14%                |
| Class ID C000018344 | 4.22%                | -0.96%               | 4.13%                |
| Class ID C000128789 | 4.22%                | -0.90%               | 4.20%                |
| Class ID C000018340 | 4.23%                | -0.92%               | 4.15%                |
| Class ID C000018342 | 4.18%                | -0.92%               | 4.10%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $25264564.34             | $260702908.60                              |
| Month 2  | $18830703.68             | $-105226013.82                             |
| Month 3  | $27990494.39             | $252060256.99                              |

### Schedule of Portfolio Investments

| Name                                                     | Title                                                    | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| OGE Energy Corp.                                         | OGE Energy Corp.                                         | CUSIP: 670837103<br>LEI: CE5OG6JPOZMDSA0LAQ19 | Long             | EC               | CORP              | US        |   1600000 | NS      | $74032000.00  | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| PG&E Corp.                                               | PG&E Corp.                                               | CUSIP: 69331C108<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | EC               | CORP              | US        |  15800000 | NS      | $238264000.00 | 3.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Drax Group plc                                           | Drax Group plc                                           | CUSIP: N/A<br>LEI: 549300YPSNTXR4ZHSR98       | Long             | EC               | CORP              | GB        |  12000000 | NS      | $113172952.56 | 1.55%             |  |  |  | No            |                  2 | On Loan: No      |
| NextEra Energy, Inc.                                     | NextEra Energy, Inc.                                     | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |   8300000 | NS      | $626567000.00 | 8.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Cheniere Energy, Inc.                                    | Cheniere Energy, Inc.                                    | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |    200000 | NS      | $46996000.00  | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Edison International                                     | Edison International                                     | CUSIP: 281020107<br>LEI: 549300I7ROF15MAEVP56 | Long             | EC               | CORP              | US        |   2850000 | NS      | $157548000.00 | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| DTE Energy Co.                                           | DTE Energy Co.                                           | CUSIP: 233331107<br>LEI: 549300IX8SD6XXD71I78 | Long             | EC               | CORP              | US        |   1300000 | NS      | $183859000.00 | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Talen Energy Corp.                                       | Talen Energy Corp.                                       | CUSIP: 87422Q109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    150000 | NS      | $63807000.00  | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams Cos., Inc. (The)                                | Williams Cos., Inc. (The)                                | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |   1200000 | NS      | $76020000.00  | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Northwestern Energy Group, Inc.                          | Northwestern Energy Group, Inc.                          | CUSIP: 668074305<br>LEI: 254900N1WG46G1VMDM34 | Long             | EC               | CORP              | US        |   1300000 | NS      | $76193000.00  | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Co. (The)                                       | Southern Co. (The)                                       | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |   4000000 | NS      | $379080000.00 | 5.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Eversource Energy                                        | Eversource Energy                                        | CUSIP: 30040W108<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | EC               | CORP              | US        |   1000000 | NS      | $71140000.00  | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Hawaiian Electric Industries, Inc.                       | Hawaiian Electric Industries, Inc.                       | CUSIP: 419870100<br>LEI: JJ8FWOCWCV22X7GUPJ23 | Long             | EC               | CORP              | US        |   2702702 | NS      | $29837830.08  | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Xcel Energy, Inc.                                        | Xcel Energy, Inc.                                        | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               | CORP              | US        |   2500000 | NS      | $201625000.00 | 2.76%             |  |  |  | No            |                  1 | On Loan: No      |
| United Utilities Group plc                               | United Utilities Group plc                               | CUSIP: N/A<br>LEI: 2138002IEYQAOC88ZJ59       | Long             | EC               | CORP              | GB        |   3500000 | NS      | $54070498.66  | 0.74%             |  |  |  | No            |                  2 | On Loan: No      |
| Public Service Enterprise Group, Inc.                    | Public Service Enterprise Group, Inc.                    | CUSIP: 744573106<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | EC               | CORP              | US        |   2000000 | NS      | $166920000.00 | 2.29%             |  |  |  | No            |                  1 | On Loan: No      |
| PPL Corp.                                                | PPL Corp.                                                | CUSIP: 69351T106<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EC               | CORP              | US        |   7000000 | NS      | $260120000.00 | 3.56%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstEnergy Corp.                                        | FirstEnergy Corp.                                        | CUSIP: 337932107<br>LEI: 549300SVYJS666PQJH88 | Long             | EC               | CORP              | US        |   3200000 | NS      | $146624000.00 | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| NiSource, Inc.                                           | NiSource, Inc.                                           | CUSIP: 65473P105<br>LEI: 549300D8GOWWH0SJB189 | Long             | EC               | CORP              | US        |   6000000 | NS      | $259800000.00 | 3.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Energy Corp.                               | Constellation Energy Corp.                               | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |    800000 | NS      | $263256000.00 | 3.61%             |  |  |  | No            |                  1 | On Loan: No      |
| National Grid plc                                        | National Grid plc                                        | CUSIP: N/A<br>LEI: 8R95QZMKZLJX5Q2XR704       | Long             | EC               | CORP              | GB        |   7000000 | NS      | $100580693.73 | 1.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Exelon Corp.                                             | Exelon Corp.                                             | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |   5100000 | NS      | $229551000.00 | 3.14%             |  |  |  | No            |                  1 | On Loan: No      |
| TXNM Energy, Inc.                                        | TXNM Energy, Inc.                                        | CUSIP: 69349H107<br>LEI: 5493003JOBJGLZSDDQ28 | Long             | EC               | CORP              | US        |   1300000 | NS      | $73515000.00  | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| American Electric Power Co., Inc.                        | American Electric Power Co., Inc.                        | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               | CORP              | US        |    600000 | NS      | $67500000.00  | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| E.ON SE                                                  | E.ON SE                                                  | CUSIP: N/A<br>LEI: Q9MAIUP40P25UFBFG033       | Long             | EC               | CORP              | DE        |   5000000 | NS      | $94177326.91  | 1.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Vistra Corp.                                             | Vistra Corp.                                             | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |   2000000 | NS      | $391840000.00 | 5.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameren Corp.                                             | Ameren Corp.                                             | CUSIP: 023608102<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | EC               | CORP              | US        |   2119148 | NS      | $221196668.24 | 3.03%             |  |  |  | No            |                  1 | On Loan: No      |
| CMS Energy Corp.                                         | CMS Energy Corp.                                         | CUSIP: 125896100<br>LEI: 549300IA9XFBAGNIBW29 | Long             | EC               | CORP              | US        |   1500000 | NS      | $109890000.00 | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Clearway Energy, Inc.                                    | Clearway Energy, Inc., Class C                           | CUSIP: 18539C204<br>LEI: 549300LHAZ9HA9G3XC48 | Long             | EC               | CORP              | US        |   1400000 | NS      | $39550000.00  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Evergy, Inc.                                             | Evergy, Inc.                                             | CUSIP: 30034W106<br>LEI: 549300PGTHDQY6PSUI61 | Long             | EC               | CORP              | US        |   4150000 | NS      | $315483000.00 | 4.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinnacle West Capital Corp.                              | Pinnacle West Capital Corp.                              | CUSIP: 723484101<br>LEI: TWSEY0NEDUDCKS27AH81 | Long             | EC               | CORP              | US        |    850000 | NS      | $76211000.00  | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Alliant Energy Corp.                                     | Alliant Energy Corp.                                     | CUSIP: 018802108<br>LEI: 5493009ML300G373MZ12 | Long             | EC               | CORP              | US        |   3500000 | NS      | $235935000.00 | 3.23%             |  |  |  | No            |                  1 | On Loan: No      |
| WEC Energy Group, Inc.                                   | WEC Energy Group, Inc.                                   | CUSIP: 92939U106<br>LEI: 549300IGLYTZUK3PVP70 | Long             | EC               | CORP              | US        |    850000 | NS      | $97401500.00  | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Sempra, Inc.                                             | Sempra, Inc.                                             | CUSIP: 816851109<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EC               | CORP              | US        |   3650000 | NS      | $328427000.00 | 4.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Corp.                                        | Duke Energy Corp.                                        | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |   2550000 | NS      | $315562500.00 | 4.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Essential Utilities, Inc.                                | Essential Utilities, Inc.                                | CUSIP: 29670G102<br>LEI: 549300ILTEOF3E3QY357 | Long             | EC               | CORP              | US        |   1050000 | NS      | $41895000.00  | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin Institutional U.S. Government Money Market Fund | Franklin Institutional U.S. Government Money Market Fund | CUSIP: 457756500<br>LEI: 549300M4TP89K77LG374 | Long             | STIV             | RF                | US        |  19949202 | NS      | $19949201.82  | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| ONE Gas, Inc.                                            | ONE Gas, Inc.                                            | CUSIP: 68235P108<br>LEI: 549300HXDWI0LATTX840 | Long             | EC               | CORP              | US        |    700000 | NS      | $56658000.00  | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| DT Midstream, Inc.                                       | DT Midstream, Inc.                                       | CUSIP: 23345M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    750000 | NS      | $84795000.00  | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Targa Resources Corp.                                    | Targa Resources Corp.                                    | CUSIP: 87612G101<br>LEI: 5493003QENHHS261UR94 | Long             | EC               | CORP              | US        |    400000 | NS      | $67016000.00  | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Dominion Energy, Inc.                                    | Dominion Energy, Inc.                                    | CUSIP: 25746U109<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | EC               | CORP              | US        |   1800000 | NS      | $110106000.00 | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Entergy Corp.                                            | Entergy Corp.                                            | CUSIP: 29364G103<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | EC               | CORP              | US        |   4350000 | NS      | $405376500.00 | 5.55%             |  |  |  | No            |                  1 | On Loan: No      |
| NRG Energy, Inc.                                         | NRG Energy, Inc.                                         | CUSIP: 629377508<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | EC               | CORP              | US        |    800000 | NS      | $129560000.00 | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| CenterPoint Energy, Inc.                                 | CenterPoint Energy, Inc.                                 | CUSIP: 15189T107<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | EC               | CORP              | US        |   4800000 | NS      | $186240000.00 | 2.55%             |  |  |  | No            |                  1 | On Loan: No      |
| SSE plc                                                  | SSE plc                                                  | CUSIP: N/A<br>LEI: 549300KI75VYLLMSK856       | Long             | EC               | CORP              | GB        |    465698 | NS      | $10923275.41  | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-30

**Name of Applicant:** Franklin Custodian Funds

**Signature:** Monica Krogh

**Name of Signer:** Monica Krogh

**Title:** Assistant Treasurer