# EDGAR Filing Document

**Accession Number:** 0000872625
**File Stem:** 0001655589-26-000755
**Filing Date:** 2026-5
**Character Count:** 3999
**Document Hash:** a0be8f783560b9a0a1b2562c04c267b2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001655589-26-000755.hdr.sgml**: 20260515

**ACCESSION NUMBER**: 0001655589-26-000755

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20260515

**DATE AS OF CHANGE**: 20260515

**EFFECTIVENESS DATE**: 20260515

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FRANKLIN STRATEGIC SERIES
- **CENTRAL INDEX KEY:** 0000872625

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** FL
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-39088
- **FILM NUMBER:** 26983075

**BUSINESS ADDRESS:**
- **STREET 1:** ONE FRANKLIN PARKWAY
- **CITY:** SAN MATEO
- **STATE:** CA
- **ZIP:** 94403-1906
- **BUSINESS PHONE:** 650-570-3000

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FRANKLIN CALIFORNIA 250 GROWTH FUND
- **DATE OF NAME CHANGE:** 19911216

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FRANKLIN CALIFORNIA 250 GROWTH INDEX FUND
- **DATE OF NAME CHANGE:** 19910917

## Series and Classes Contracts Data

### Franklin Templeton SMACS: Series CH (Series ID: S000065648)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000212373 | Advisor Class | FQCHX           |

#### GOF-P45 05/26

#### SUPPLEMENT DATED MAY 15, 2026

#### TO THE SUMMARY PROSPECTUS, PROSPECTUS AND

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

#### OF EACH FUND LISTED IN SCHEDULE A

#### This supplement replaces and supersedes the supplement dated April 17, 2026. <br>

#### All changes described below are effective June 30, 2026.
**1. The following replaces the reference to John Wiley in the section titled "Fund Summary – Portfolio Managers" in the Summary Prospectus and Prospectus of each fund listed in Schedule A:** 

**Daniel Workman, CFA**<br>Vice President of Advisers and portfolio manager of the Fund since June 2026.

**2. The following replaces the reference to John Wiley in the section titled "Fund Details – Management" in the Prospectus of each fund listed in Schedule A:**

#### Daniel Workman, CFA Portfolio Manager of Advisers
Mr. Workman has been a portfolio manager of the Fund since June 2026. He joined Franklin Templeton in 2003.

**3. The following replaces references to John Wiley in the table in the section titled "Management and Other Services – Portfolio managers" in the SAI of each fund listed in Schedule A:**

------

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **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)** |
| Daniel Workman\* | Registered<br>Investment<br>Companies | 10 | 20600.5 |  |  |
|  | Other Pooled<br>Investment<br>Vehicles | 2 | 238.1 |  |  |
|  | Other<br>Accounts | 3 | 6.9 |  |  |

---

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

**4. The following replaces references to John Wiley in the table in the section titled "Management and Other Services – Portfolio managers – Ownership of Fund shares" in the SAI of each fund listed in Schedule A:**

---

| | |
|:---|:---|
| **Portfolio Manager** | **Dollar Range of Fund Shares Beneficially Owned** |
| Daniel Workman\* | None |

---

\*Information is provided as of March 31, 2026.

#### SCHEDULE A

---

| | |
|:---|:---|
| **Fund**<br>| **Date of Summary Prospectus, Prospectus and SAI**<br>|
| **<u>FRANKLIN MUNICIPAL SECURITIES TRUST</u>** |  |
| Franklin California High Yield Municipal Fund | July 1, 2025 |
| **<u>FRANKLIN STRATEGIC SERIES</u>** |  |
| Franklin Templeton SMACS: Series CH | January 1, 2026 |

---

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

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