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        <name>Amphenol Corp.</name>
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        <name>AMETEK, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Canva, Inc.</name>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>NVIDIA Corp.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Amazon.com, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Haemonetics Corp.</name>
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        <name>Xylem, Inc.</name>
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      <invstOrSec>
        <name>Lattice Semiconductor Corp.</name>
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        <title>Lattice Semiconductor Corp.</title>
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      <invstOrSec>
        <name>Northrop Grumman Corp.</name>
        <lei>RIMU48P07456QXSO0R61</lei>
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        <name>Eli Lilly &amp; Co.</name>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Danaher Corp.</name>
        <lei>S4BKK9OTCEWQ3YHPFM11</lei>
        <title>Danaher Corp.</title>
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          <isin value="US2358511028"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Stryker Corp.</name>
        <lei>5493002F0SC4JTBU5137</lei>
        <title>Stryker Corp.</title>
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          <isin value="US8636671013"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Alphabet, Inc.</name>
        <lei>5493006MHB84DD0ZWV18</lei>
        <title>Alphabet, Inc., Class C</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Intuit, Inc.</name>
        <lei>VI90HBPH7XSFMB9E4M29</lei>
        <title>Intuit, Inc.</title>
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        <name>BlackRock, Inc.</name>
        <lei>549300LRIF3NWCU26A80</lei>
        <title>BlackRock, Inc.</title>
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        <name>Constellation Brands, Inc.</name>
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        <name>Snowflake, Inc.</name>
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        <name>Gusto, Inc.</name>
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        <name>Republic Services, Inc.</name>
        <lei>NKNQHM6BLECKVOQP7O46</lei>
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        <name>Mettler-Toledo International, Inc.</name>
        <lei>5493000BD5GJNUDIUG10</lei>
        <title>Mettler-Toledo International, Inc.</title>
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        <name>Apple, Inc.</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
        <title>Apple, Inc.</title>
        <cusip>037833100</cusip>
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        <name>Automatic Data Processing, Inc.</name>
        <lei>HGBOLILQXWER4SAL2I23</lei>
        <title>Automatic Data Processing, Inc.</title>
        <cusip>053015103</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>NextEra Energy, Inc.</name>
        <lei>254900RHL9MEUS5NKX63</lei>
        <title>NextEra Energy, Inc.</title>
        <cusip>65339F101</cusip>
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        <valUSD>163318553.86000000</valUSD>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Sartorius AG</name>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Argenx SE</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Canvas, Inc.</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Uber Technologies, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Mastercard, Inc.</name>
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          <isin value="US57636Q1040"/>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Checkout Payments Group Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Tesla, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>PTC, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Lamb Weston Holdings, Inc.</name>
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        <name>BILL Holdings, Inc.</name>
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        <name>ASML Holding NV</name>
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        <name>Trane Technologies plc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>American Water Works Co., Inc.</name>
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        <name>Chipotle Mexican Grill, Inc.</name>
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        <name>Adobe, Inc.</name>
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        <name>Veeva Systems, Inc.</name>
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        <name>ROBLOX Corp.</name>
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        <name>Autodesk, Inc.</name>
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        <name>Deere &amp; Co.</name>
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        <name>Airbnb, Inc.</name>
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        <name>Stripe, Inc.</name>
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        <title>S&amp;P Global, Inc.</title>
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        <name>AstraZeneca plc</name>
        <lei>PY6ZZQWO2IZFZC3IOL08</lei>
        <title>AstraZeneca plc</title>
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      <invstOrSec>
        <name>ANSYS, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Abbott Laboratories</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Air Products and Chemicals, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Costco Wholesale Corp.</name>
        <lei>29DX7H14B9S6O3FD6V18</lei>
        <title>Costco Wholesale Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>BWX Technologies, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Procore Technologies, Inc.</name>
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        <name>Laboratory Corp. of America Holdings</name>
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        <name>Blackstone, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>PepsiCo, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>JB Hunt Transport Services, Inc.</name>
        <lei>549300XCD1MPI1C5GK90</lei>
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        <name>Stripe, Inc.</name>
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        <name>Canva, Inc.</name>
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        <name>Brown-Forman Corp.</name>
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        <name>OneTrust LLC</name>
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        <name>Charles Schwab Corp. (The)</name>
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        <name>Edwards Lifesciences Corp.</name>
        <lei>YA13X31F3V31L8TMPR58</lei>
        <title>Edwards Lifesciences Corp.</title>
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        <name>Verisk Analytics, Inc.</name>
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        <name>Ingersoll Rand, Inc.</name>
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        <name>West Pharmaceutical Services, Inc.</name>
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        <name>ServiceNow, Inc.</name>
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        <name>ARM Holdings plc</name>
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        <title>ARM Holdings plc</title>
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        <name>Agilent Technologies, Inc.</name>
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        <title>Agilent Technologies, Inc.</title>
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        <name>Amgen, Inc.</name>
        <lei>62QBXGPJ34PQ72Z12S66</lei>
        <title>Amgen, Inc.</title>
        <cusip>031162100</cusip>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Microsoft Corp.</name>
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        <title>Microsoft Corp.</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Prologis, Inc.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NIKE, Inc.</name>
        <lei>787RXPR0UX0O0XUXPZ81</lei>
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          <isin value="US6541061031"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TE Connectivity Ltd.</name>
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        <title>TE Connectivity Ltd.</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Canva, Inc.</name>
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        <fairValLevel>3</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Martin Marietta Materials, Inc.</name>
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        <title>Martin Marietta Materials, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>RTX Corp.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ecolab, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Intuitive Surgical, Inc.</name>
        <lei>54930052SRG011710797</lei>
        <title>Intuitive Surgical, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AbbVie, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Union Pacific Corp.</name>
        <lei>549300LMMRSZZCZ8CL11</lei>
        <title>Union Pacific Corp.</title>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Shopify, Inc.</name>
        <lei>549300HGQ43STJLLP808</lei>
        <title>Shopify, Inc., Class A</title>
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        <fairValLevel>1</fairValLevel>
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        <name>NXP Semiconductors NV</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Regeneron Pharmaceuticals, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Booking Holdings, Inc.</name>
        <lei>FXM8FAOHMYDIPD38UZ17</lei>
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        <name>Tradeweb Markets, Inc.</name>
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        <name>Tyler Technologies, Inc.</name>
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        <name>UnitedHealth Group, Inc.</name>
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        <title>UnitedHealth Group, Inc.</title>
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        <name>Thermo Fisher Scientific, Inc.</name>
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        <name>Synopsys, Inc.</name>
        <lei>QG7T915N9S0NY5UKNE63</lei>
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        <name>Dover Corp.</name>
        <lei>549300FMC2ALGA7N9E80</lei>
        <title>Dover Corp.</title>
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        <name>Visa, Inc.</name>
        <lei>549300JZ4OKEHW3DPJ59</lei>
        <title>Visa, Inc., Class A</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Illinois Tool Works, Inc.</name>
        <lei>76NA4I14SZCFAYMNSV04</lei>
        <title>Illinois Tool Works, Inc.</title>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Institutional Fiduciary Trust - Money Market Portfolio</name>
        <lei>549300M4TP89K77LG374</lei>
        <title>Institutional Fiduciary Trust - Money Market Portfolio</title>
        <cusip>457756500</cusip>
        <identifiers>
          <isin value="US4577565009"/>
          <other otherDesc="Inhouse Asset ID" value="170875"/>
        </identifiers>
        <balance>129578008.64100000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>129578008.64000000</valUSD>
        <pctVal>0.685390560413</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fastenal Co.</name>
        <lei>529900PP0C7H2HHPSJ32</lei>
        <title>Fastenal Co.</title>
        <cusip>311900104</cusip>
        <identifiers>
          <isin value="US3119001044"/>
          <other otherDesc="Inhouse Asset ID" value="204754"/>
        </identifiers>
        <balance>2605313.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>200973844.82000000</valUSD>
        <pctVal>1.063032049769</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Lam Research Corp.</name>
        <lei>549300I4GMO6D34U1T02</lei>
        <title>Lam Research Corp.</title>
        <cusip>512807108</cusip>
        <identifiers>
          <isin value="US5128071082"/>
          <other otherDesc="Inhouse Asset ID" value="29968"/>
        </identifiers>
        <balance>28550.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>27738323.50000000</valUSD>
        <pctVal>0.146719225647</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Canva, Inc.</name>
        <lei>N/A</lei>
        <title>Canva, Inc., Series A</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1173083"/>
        </identifiers>
        <balance>2353.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2509853.57000000</valUSD>
        <pctVal>0.013275631898</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Lockheed Martin Corp.</name>
        <lei>DPRBOZP0K5RM2YE8UU08</lei>
        <title>Lockheed Martin Corp.</title>
        <cusip>539830109</cusip>
        <identifiers>
          <isin value="US5398301094"/>
          <other otherDesc="Inhouse Asset ID" value="31735"/>
        </identifiers>
        <balance>346455.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>157591985.85000000</valUSD>
        <pctVal>0.833567830159</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Texas Instruments, Inc.</name>
        <lei>WDJNR2L6D8RWOEB8T652</lei>
        <title>Texas Instruments, Inc.</title>
        <cusip>882508104</cusip>
        <identifiers>
          <isin value="US8825081040"/>
          <other otherDesc="Inhouse Asset ID" value="5041"/>
        </identifiers>
        <balance>1326618.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>231110121.78000000</valUSD>
        <pctVal>1.222435022320</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Salesforce, Inc.</name>
        <lei>RCGZFPDMRW58VJ54VR07</lei>
        <title>Salesforce, Inc.</title>
        <cusip>79466L302</cusip>
        <identifiers>
          <isin value="US79466L3024"/>
          <other otherDesc="Inhouse Asset ID" value="308705"/>
        </identifiers>
        <balance>534162.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>160878911.16000000</valUSD>
        <pctVal>0.850953709167</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Workday, Inc.</name>
        <lei>549300J0DYC0N31V7G13</lei>
        <title>Workday, Inc., Class A</title>
        <cusip>98138H101</cusip>
        <identifiers>
          <isin value="US98138H1014"/>
          <other otherDesc="Inhouse Asset ID" value="532814"/>
        </identifiers>
        <balance>661601.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>180451672.75000000</valUSD>
        <pctVal>0.954481971221</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Monolithic Power Systems, Inc.</name>
        <lei>529900TB7O85LSZ1XU31</lei>
        <title>Monolithic Power Systems, Inc.</title>
        <cusip>609839105</cusip>
        <identifiers>
          <isin value="US6098391054"/>
          <other otherDesc="Inhouse Asset ID" value="322260"/>
        </identifiers>
        <balance>426545.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>288950113.90000000</valUSD>
        <pctVal>1.528374162993</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Canadian Pacific Kansas City Ltd.</name>
        <lei>N/A</lei>
        <title>Canadian Pacific Kansas City Ltd.</title>
        <cusip>13646K108</cusip>
        <identifiers>
          <isin value="CA13646K1084"/>
          <other otherDesc="Inhouse Asset ID" value="217637"/>
        </identifiers>
        <balance>1346949.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>118760493.33000000</valUSD>
        <pctVal>0.628172341377</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Linde plc</name>
        <lei>5299003QR1WT0EF88V51</lei>
        <title>Linde plc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="IE000S9YS762"/>
          <other otherDesc="Inhouse Asset ID" value="1239901"/>
        </identifiers>
        <balance>664827.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>308692472.64000000</valUSD>
        <pctVal>1.632799493053</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2024-04-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Franklin Custodian Funds</ncom:nameOfApplicant>
      <ncom:signature>Monica Krogh</ncom:signature>
      <ncom:signerName>Monica Krogh</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
