Investment objective & strategy
As of Jan. 26, 2026 · prospectusObjective. Capital appreciation and current income.
Strategy. Under normal market conditions, the Fund invests at least 80% of its net assets in the securities of public utilities companies. These are companies that provide electricity, natural gas, water, and communications services to the public and companies that provide services to public utilities companies. The Fund concentrates (invests more than 25% of its total assets) in companies operating in the utilities industry. The Fund invests primarily in equity securities, which consist mainly of common stocks. The Fund searches for the best return opportunities available in the global utilities arena with a specific focus on the U.S. electricity and gas sector. Generally, the Fund seeks to invest in companies producing a high percentage of earnings from their regulated operations. Under normal market conditions, the Fund invests at least 80% of its net assets in the securities of public utilities companies. These are companies that provide electricity, natural gas, water, and communications services to the public and companies that provide services to public utilities companies. The Fund concentrates (invests more than 25% of its total assets) in companies operating in the utilities industry. The Fund invests primarily in equity securities, which consist mainly of common stocks. The Fund searches for the best return opportunities available in the global utilities arena with a specific focus on the U.S. electricity and gas sector. Generally, the Fund seeks to invest in companies producing a high percentage of earnings from their regulated operations.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| NEXTERA ENERGY INC | — | $770.90M | 9.95% |
| ENTERGY CORP | — | $460.68M | 5.95% |
| SEMPRA ENERGY | — | $386.53M | 4.99% |
| SOUTHERN CO | — | $386.08M | 4.98% |
| EVERGY INC | — | $339.97M | 4.39% |
| DUKE ENERGY CORP NEW | — | $333.90M | 4.31% |
| CONSTELLATION ENERGY CORP | — | $293.21M | 3.78% |
| VISTRA CORP | — | $285.63M | 3.69% |
| PG&E CORP | — | $277.61M | 3.58% |
| NISOURCE INC | — | $265.96M | 3.43% |
Portfolio moves
Dec 31, 2025 → Mar 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. |
|---|---|---|
| State Street(R) Utilities Select Sector SPDR(R) ETF · XLU | 71% | 0.08% |
| PROFUND VP UTILITIES | 70% | 1.68% |
| VANGUARD UTILITIES INDEX FUND · VUIAX, VPU | 70% | 0.09% |
Advisers
| Firm | Role |
|---|---|
| Franklin Advisers, Inc. | Adviser |
Footnotes
- Expense ratio as of January 26, 2026, from the fund's prospectus.
- Net assets and holdings count as of March 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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