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        <name>Amphenol Corp.</name>
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        <name>AMETEK, Inc.</name>
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      <invstOrSec>
        <name>Canva, Inc.</name>
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        <name>NVIDIA Corp.</name>
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        <name>Amazon.com, Inc.</name>
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        <name>Haemonetics Corp.</name>
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        <name>Xylem, Inc.</name>
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        <name>Lattice Semiconductor Corp.</name>
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        <name>Northrop Grumman Corp.</name>
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        <name>Curtiss-Wright Corp.</name>
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        <name>Eli Lilly &amp; Co.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Danaher Corp.</name>
        <lei>S4BKK9OTCEWQ3YHPFM11</lei>
        <title>Danaher Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Stryker Corp.</name>
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        <title>Stryker Corp.</title>
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        <name>Alphabet, Inc.</name>
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        <name>Intuit, Inc.</name>
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        <name>BlackRock, Inc.</name>
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        <name>Constellation Brands, Inc.</name>
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        <name>Gusto, Inc.</name>
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        <name>Republic Services, Inc.</name>
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        <name>Mettler-Toledo International, Inc.</name>
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        <name>Apple, Inc.</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
        <title>Apple, Inc.</title>
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        <name>Automatic Data Processing, Inc.</name>
        <lei>HGBOLILQXWER4SAL2I23</lei>
        <title>Automatic Data Processing, Inc.</title>
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        <name>NextEra Energy, Inc.</name>
        <lei>254900RHL9MEUS5NKX63</lei>
        <title>NextEra Energy, Inc.</title>
        <cusip>65339F101</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Sartorius AG</name>
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          <isin value="DE0007165631"/>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Canvas, Inc.</name>
        <lei>N/A</lei>
        <title>Canva, Inc., Series A-4</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="1173085"/>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Uber Technologies, Inc.</name>
        <lei>549300B2FTG34FILDR98</lei>
        <title>Uber Technologies, Inc.</title>
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          <isin value="US90353T1007"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Mastercard, Inc.</name>
        <lei>AR5L2ODV9HN37376R084</lei>
        <title>Mastercard, Inc., Class A</title>
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          <isin value="US57636Q1040"/>
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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>Checkout Payments Group Ltd.</name>
        <lei>213800VZSCTVSAZUJO06</lei>
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        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="1183666"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PTC, Inc.</name>
        <lei>54930050SSMU8SKDJ030</lei>
        <title>PTC, Inc.</title>
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          <isin value="US69370C1009"/>
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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>ASML Holding NV</name>
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        <cusip>N/A</cusip>
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          <isin value="USN070592100"/>
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        <curCd>USD</curCd>
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        <invCountry>NL</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Trane Technologies plc</name>
        <lei>549300BURLR9SLYY2705</lei>
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          <isin value="IE00BK9ZQ967"/>
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        <assetCat>EC</assetCat>
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        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>American Water Works Co., Inc.</name>
        <lei>549300DXHIJQMD5WFW18</lei>
        <title>American Water Works Co., Inc.</title>
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          <isin value="US0304201033"/>
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        <curCd>USD</curCd>
        <valUSD>74908537.72000000</valUSD>
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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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Chipotle Mexican Grill, Inc.</name>
        <lei>N/A</lei>
        <title>Chipotle Mexican Grill, Inc., Class A</title>
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          <isin value="US1696561059"/>
          <other otherDesc="Inhouse Asset ID" value="347244"/>
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        <balance>2460000.00000000</balance>
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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>Adobe, Inc.</name>
        <lei>FU4LY2G4933NH2E1CP29</lei>
        <title>Adobe, Inc.</title>
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          <isin value="US00724F1012"/>
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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>Veeva Systems, Inc.</name>
        <lei>549300YZEXPDB92M2F02</lei>
        <title>Veeva Systems, Inc., Class A</title>
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          <isin value="US9224751084"/>
          <other otherDesc="Inhouse Asset ID" value="561916"/>
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        <balance>408813.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>74816867.13000000</valUSD>
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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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ROBLOX Corp.</name>
        <lei>N/A</lei>
        <title>ROBLOX Corp., Class A</title>
        <cusip>771049103</cusip>
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          <isin value="US7710491033"/>
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        <curCd>USD</curCd>
        <valUSD>54895392.06000000</valUSD>
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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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Autodesk, Inc.</name>
        <lei>FRKKVKAIQEF3FCSTPG55</lei>
        <title>Autodesk, Inc.</title>
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          <isin value="US0527691069"/>
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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>Deere &amp; Co.</name>
        <lei>PWFTNG3EI0Y73OXWDH08</lei>
        <title>Deere &amp; Co.</title>
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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>Airbnb, Inc.</name>
        <lei>549300HMUDNO0RY56D37</lei>
        <title>Airbnb, Inc., Class A</title>
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          <isin value="US0090661010"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Stripe, Inc.</name>
        <lei>549300CLHGIPTCYHQ143</lei>
        <title>Stripe, Inc., Series I</title>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>S&amp;P Global, Inc.</name>
        <lei>Y6X4K52KMJMZE7I7MY94</lei>
        <title>S&amp;P Global, Inc.</title>
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      <invstOrSec>
        <name>AstraZeneca plc</name>
        <lei>PY6ZZQWO2IZFZC3IOL08</lei>
        <title>AstraZeneca plc</title>
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        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Abbott Laboratories</name>
        <lei>HQD377W2YR662HK5JX27</lei>
        <title>Abbott Laboratories</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <name>Air Products and Chemicals, Inc.</name>
        <lei>7QEON6Y1RL5XR3R1W237</lei>
        <title>Air Products and Chemicals, Inc.</title>
        <cusip>009158106</cusip>
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        <invCountry>US</invCountry>
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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>
        <cusip>22160K105</cusip>
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          <isin value="US22160K1051"/>
          <other otherDesc="Inhouse Asset ID" value="44590"/>
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        <balance>253449.00000000</balance>
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        <curCd>USD</curCd>
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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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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BWX Technologies, Inc.</name>
        <lei>549300NP85N265KWMS58</lei>
        <title>BWX Technologies, Inc.</title>
        <cusip>05605H100</cusip>
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          <isin value="US05605H1005"/>
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        <curCd>USD</curCd>
        <valUSD>127681045.00000000</valUSD>
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        <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>
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      <invstOrSec>
        <name>Procore Technologies, Inc.</name>
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        <title>Procore Technologies, Inc.</title>
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          <isin value="US74275K1088"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Blackstone, Inc.</name>
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        <title>Blackstone, Inc.</title>
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          <isin value="US09260D1072"/>
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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>PepsiCo, Inc.</name>
        <lei>FJSUNZKFNQ5YPJ5OT455</lei>
        <title>PepsiCo, Inc.</title>
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          <isin value="US7134481081"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>JB Hunt Transport Services, Inc.</name>
        <lei>549300XCD1MPI1C5GK90</lei>
        <title>JB Hunt Transport Services, Inc.</title>
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          <isin value="US4456581077"/>
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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>Stripe, Inc.</name>
        <lei>549300CLHGIPTCYHQ143</lei>
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        <fairValLevel>3</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Canva, Inc.</name>
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        <assetCat>EP</assetCat>
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        <fairValLevel>3</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>OneTrust LLC</name>
        <lei>N/A</lei>
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          <other otherDesc="Inhouse Asset ID" value="1140236"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Charles Schwab Corp. (The)</name>
        <lei>549300VSGCJ7E698NM85</lei>
        <title>Charles Schwab Corp. (The)</title>
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          <isin value="US8085131055"/>
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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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Edwards Lifesciences Corp.</name>
        <lei>YA13X31F3V31L8TMPR58</lei>
        <title>Edwards Lifesciences Corp.</title>
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          <isin value="US28176E1082"/>
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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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Verisk Analytics, Inc.</name>
        <lei>549300I1YSWNIRKBWP67</lei>
        <title>Verisk Analytics, Inc., Class A</title>
        <cusip>92345Y106</cusip>
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          <isin value="US92345Y1064"/>
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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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ingersoll Rand, Inc.</name>
        <lei>5299004C02FMZCUOIR50</lei>
        <title>Ingersoll Rand, Inc.</title>
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          <isin value="US45687V1061"/>
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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>West Pharmaceutical Services, Inc.</name>
        <lei>5493007NKRGM1RJQ1P16</lei>
        <title>West Pharmaceutical Services, Inc.</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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          <isCashCollateral>N</isCashCollateral>
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        <name>ServiceNow, Inc.</name>
        <lei>549300HJTQM36M0E1G39</lei>
        <title>ServiceNow, Inc.</title>
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          <isin value="US81762P1021"/>
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        <curCd>USD</curCd>
        <valUSD>498823513.65000000</valUSD>
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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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ARM Holdings plc</name>
        <lei>2138001E66EELTE7Y904</lei>
        <title>ARM Holdings plc</title>
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          <isin value="US0420682058"/>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Agilent Technologies, Inc.</name>
        <lei>QUIX8Y7A2WP0XRMW7G29</lei>
        <title>Agilent Technologies, Inc.</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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Amgen, Inc.</name>
        <lei>62QBXGPJ34PQ72Z12S66</lei>
        <title>Amgen, Inc.</title>
        <cusip>031162100</cusip>
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        <valUSD>159298258.20000000</valUSD>
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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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        <name>Microsoft Corp.</name>
        <lei>INR2EJN1ERAN0W5ZP974</lei>
        <title>Microsoft Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Prologis, Inc.</name>
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        <title>Prologis, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>NIKE, Inc.</name>
        <lei>787RXPR0UX0O0XUXPZ81</lei>
        <title>NIKE, Inc., Class B</title>
        <cusip>654106103</cusip>
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        <name>TE Connectivity Ltd.</name>
        <lei>894500ZRIX9K13RHXR17</lei>
        <title>TE Connectivity Ltd.</title>
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        <invCountry>CH</invCountry>

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        <fairValLevel>1</fairValLevel>
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        <name>Canva, Inc.</name>
        <lei>N/A</lei>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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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>
        <lei>5299005MZ4WZECVATV08</lei>
        <title>Martin Marietta Materials, Inc.</title>
        <cusip>573284106</cusip>
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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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>RTX Corp.</name>
        <lei>I07WOS4YJ0N7YRFE7309</lei>
        <title>RTX Corp.</title>
        <cusip>75513E101</cusip>
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        <valUSD>151097992.90000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Ecolab, Inc.</name>
        <lei>82DYEISM090VG8LTLS26</lei>
        <title>Ecolab, Inc.</title>
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        <name>Union Pacific Corp.</name>
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        <name>Dover Corp.</name>
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        <name>Institutional Fiduciary Trust - Money Market Portfolio</name>
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        <name>Fastenal Co.</name>
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        <name>Lam Research Corp.</name>
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        <name>Canva, Inc.</name>
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        <name>Lockheed Martin Corp.</name>
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        <name>Texas Instruments, Inc.</name>
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        <title>Texas Instruments, Inc.</title>
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        <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>137333050.20000000</valUSD>
        <pctVal>0.717675558401</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>147907519.56000000</valUSD>
        <pctVal>0.772935659241</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>418345.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>343745719.60000000</valUSD>
        <pctVal>1.796347644669</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>106045294.77000000</valUSD>
        <pctVal>0.554171891100</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>291732735.87000000</valUSD>
        <pctVal>1.524538003158</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>2024-07-31</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>
  <documents>XXXX</documents>
</edgarSubmission>
