Investment objective & strategy
As of Feb. 25, 2026 · prospectusObjective. To maximize total return by emphasizing high current income and long-term capital appreciation, consistent with reasonable risk.
Strategy. The Fund normally invests at least 80% of its net assets in equity securities, including securities convertible into common stocks. The Fund generally invests primarily in common stocks, and the remainder of its assets in other equity-related instruments such as convertible securities, equity-linked notes (ELNs) and real estate investment trusts (REITs). While the Fund does not concentrate in any one industry, from time to time, based on economic conditions, it may make significant investments in certain sectors. The Fund may invest in foreign securities, but does not currently anticipate investing more than 15% of its total assets in securities of issuers domiciled outside the United States. The Funds strategy is to invest in a broadly diversified portfolio of equity securities … The Fund normally invests at least 80% of its net assets in equity securities, including securities convertible into common stocks. The Fund generally invests primarily in common stocks, and the remainder of its assets in other equity-related instruments such as convertible securities, equity-linked notes (ELNs) and real estate investment trusts (REITs). While the Fund does not concentrate in any one industry, from time to time, based on economic conditions, it may make significant investments in certain sectors. The Fund may invest in foreign securities, but does not currently anticipate investing more than 15% of its total assets in securities of issuers domiciled outside the United States. The Funds strategy is to invest in a broadly diversified portfolio of equity securities that the Funds investment manager considers to be financially strong, with a focus on "blue chip" companies. The investment manager applies a "bottom-up" approach to investing in individual securities. The investment manager will assess the market price of a company's securities relative to the investment manager's evaluation of the company's long-term earnings, cash flow potential and balance sheet strength. The investment manager also considers various financial metrics including, but not limited to, a company's price/earnings ratio, return on capital, profit margins and asset value. The Funds investment manager considers dividend yield and the opportunity for dividend growth in selecting stocks for the Fund because the investment manager believes that, over time, dividend income can contribute significantly to total return and can be a more consistent source of investment return than capital appreciation. The Fund may also invest up to 10% of its net assets in REITs.
Top holdings
As of Jan. 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| JPMORGAN CHASE and CO | — | $189.65M | 4.03% |
| MORGAN STANLEY | — | $151.72M | 3.22% |
| JOHNSON&JOHNSON | — | $138.05M | 2.93% |
| BANK OF AMERICA CORPORATION | — | $136.19M | 2.89% |
| CHEVRON CORP | — | $130.91M | 2.78% |
| ALPHABET INC CL A | — | $127.60M | 2.71% |
| PROCTER & GAMBLE | — | $99.03M | 2.10% |
| CISCO SYSTEMS INC | — | $92.81M | 1.97% |
| WALMART INC | — | $85.19M | 1.81% |
| PHILIP MORRIS INTL INC | — | $84.79M | 1.80% |
Portfolio moves
Oct 31, 2025 → Jan 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Franklin Growth and Income VIP Fund | 88% | 0.59% |
| iShares Russell Top 200 Value ETF · IWX | 39% | 0.20% |
| JNL/Invesco Diversified Dividend Fund | 39% | 0.68% |
Advisers
| Firm | Role |
|---|---|
| Franklin Advisers, Inc. | Adviser |
Footnotes
- Expense ratio as of February 25, 2026, from the fund's prospectus.
- Net assets and holdings count as of January 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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