# EDGAR Filing Document

**Accession Number:** 0000038721
**File Stem:** 0001655589-26-000471
**Filing Date:** 2026-4
**Character Count:** 4894
**Document Hash:** 7238561c09193b65a8c4fe53e838a178
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001655589-26-000471.hdr.sgml**: 20260417

**ACCESSION NUMBER**: 0001655589-26-000471

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20260417

**DATE AS OF CHANGE**: 20260417

**EFFECTIVENESS DATE**: 20260417

**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:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 002-11346
- **FILM NUMBER:** 26869756

**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           |

#### 1107-P1 04/26

#### FRANKLIN CUSTODIAN FUNDS

#### SUPPLEMENT DATED APRIL 17, 2026

#### TO THE SUMMARY PROSPECTUS, PROSPECTUS AND

#### STATEMENT OF ADDITIONAL INFORMATION ("SAI")

#### EACH DATED FEBRUARY 1, 2026, OF

#### FRANKLIN UTILITIES FUND (THE "FUND")

**1. Effective May 1, 2026, the following changes are made to the Fund's Summary Prospectus, Prospectus and SAI:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**a. The following is added to the section titled "Fund Summary – Portfolio Managers" in the Fund's Summary Prospectus and Prospectus:** 

**Luke Lotti, CFA**<br>Portfolio Manager of Advisers and portfolio manager of the Fund since May 2026.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**b. The following is added to the section titled "Fund Details – Management" in the Fund's Prospectus:**

#### Luke Lotti, CFA Portfolio Manager of Advisers
Mr. Lotti has been a portfolio manager of the Fund since May 2026. He joined Franklin Templeton in 2019.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**c. The following replaces the fifth paragraph in the section titled "Fund Details – Management" in the Fund's Prospectus:**

The portfolio managers of the Fund are jointly and primarily responsible for the day-to-day management of the Fund's portfolio. They have equal authority over all aspects of the Fund's investment portfolio, including, but not limited to, purchases and sales of individual securities, portfolio risk

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assessment, and the management of daily cash balances in accordance with anticipated investment management requirements. The degree to which each portfolio manager may perform these functions, and the nature of these functions, may change from time to time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. **The following is added to the table in the section titled "Management and Other Services – Portfolio managers" in the Fund's SAI:**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Name** | **Type of<br>Account** | **Number of**<br>**Accounts**<br>**Managed** | **Total Assets**<br>**Managed**<br>**(x $1 million)** | **Number of Accounts** <br>**Managed for which** <br>**Advisory Fee is** <br>**Performance-Based** | **Assets Managed for which** <br>**Advisory Fee is** <br>**Performance-Based** <br>**(x $1 million)** |
| Luke Lotti\* | Registered<br>Investment<br>Companies |  |  |  |  |
|  | Other Pooled<br>Investment<br>Vehicles |  |  |  |  |
|  | Other<br>Accounts |  |  |  |  |

---

\*Information is provided as of February 28, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e. **The following is added to the table in the section titled "Management and Other Services – Portfolio managers – Ownership of Fund shares" in the Fund's SAI:**

---

| | |
|:---|:---|
| **Portfolio Manager** | **Dollar Range of Fund Shares Beneficially Owned** |
| Luke Lotti\* | $1–$10000 |
| \*Information is provided as of March 31, 2026 |  |

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2. **Effective September 30, 2026, the following supersedes any and all disclosure to the contrary in the Fund's Summary Prospectus, Prospectus and SAI:**

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#### The portfolio managers primarily responsible for the day-to-day management of the Fund are Blair Schmicker, CFA and Luke Lotti, CFA .

#### Please retain this supplement for future reference.

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