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      <invstOrSec>
        <name>Amphenol Corp.</name>
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      <invstOrSec>
        <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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        <title>NVIDIA Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Amazon.com, Inc.</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>
        <lei>TEL51ETZWP7D0ZM4X325</lei>
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        <fairValLevel>1</fairValLevel>
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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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          <isin value="US2358511028"/>
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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>Stryker Corp.</name>
        <lei>5493002F0SC4JTBU5137</lei>
        <title>Stryker Corp.</title>
        <cusip>863667101</cusip>
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          <isin value="US8636671013"/>
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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>
        <cusip>02079K107</cusip>
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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>Gusto, Inc.</name>
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        <name>Republic Services, Inc.</name>
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        <name>Mettler-Toledo International, Inc.</name>
        <lei>5493000BD5GJNUDIUG10</lei>
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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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        <name>Sartorius AG</name>
        <lei>529900EQV2DY4FOAMU38</lei>
        <title>Sartorius AG</title>
        <cusip>N/A</cusip>
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        <balance>475000.00000000</balance>
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        <invCountry>DE</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Canvas, Inc.</name>
        <lei>N/A</lei>
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          <other otherDesc="Inhouse Asset ID" value="1173085"/>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Uber Technologies, Inc.</name>
        <lei>549300B2FTG34FILDR98</lei>
        <title>Uber Technologies, Inc.</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>Mastercard, Inc.</name>
        <lei>AR5L2ODV9HN37376R084</lei>
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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>
        <lei>213800VZSCTVSAZUJO06</lei>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PTC, Inc.</name>
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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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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Trane Technologies plc</name>
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        <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>
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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"/>
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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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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Veeva Systems, Inc.</name>
        <lei>549300YZEXPDB92M2F02</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>Autodesk, Inc.</name>
        <lei>FRKKVKAIQEF3FCSTPG55</lei>
        <title>Autodesk, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TE Connectivity plc</name>
        <lei>N/A</lei>
        <title>TE Connectivity plc</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Deere &amp; Co.</name>
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      <invstOrSec>
        <name>Airbnb, Inc.</name>
        <lei>549300HMUDNO0RY56D37</lei>
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        <name>Stripe, Inc.</name>
        <lei>549300CLHGIPTCYHQ143</lei>
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        <name>S&amp;P Global, Inc.</name>
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        <name>AstraZeneca plc</name>
        <lei>PY6ZZQWO2IZFZC3IOL08</lei>
        <title>AstraZeneca plc</title>
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        <name>Abbott Laboratories</name>
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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>
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        <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>
        <lei>549300NP85N265KWMS58</lei>
        <title>BWX Technologies, Inc.</title>
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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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        <name>Blackstone, Inc.</name>
        <lei>5299004LW4QWGZUB8Y96</lei>
        <title>Blackstone, Inc.</title>
        <cusip>09260D107</cusip>
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          <isin value="US09260D1072"/>
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        <balance>798607.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>122290689.91000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <name>PepsiCo, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Stripe, Inc.</name>
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      <invstOrSec>
        <name>Canva, Inc.</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>
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        <fairValLevel>1</fairValLevel>
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        <name>Anduril Industries, Inc.</name>
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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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        <fairValLevel>1</fairValLevel>
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        <name>ServiceNow, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>ARM Holdings plc</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Agilent Technologies, Inc.</name>
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        <name>Amgen, Inc.</name>
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        <name>Microsoft Corp.</name>
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        <name>Prologis, Inc.</name>
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        <name>NIKE, Inc.</name>
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        <name>Canva, Inc.</name>
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        <name>Martin Marietta Materials, Inc.</name>
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        <name>RTX Corp.</name>
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        <title>RTX Corp.</title>
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        <name>Old Dominion Freight Line, Inc.</name>
        <lei>5299009TWK32WE417T96</lei>
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        <name>Ecolab, Inc.</name>
        <lei>82DYEISM090VG8LTLS26</lei>
        <title>Ecolab, Inc.</title>
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        <name>Intuitive Surgical, Inc.</name>
        <lei>54930052SRG011710797</lei>
        <title>Intuitive Surgical, Inc.</title>
        <cusip>46120E602</cusip>
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        <valUSD>431452964.80000000</valUSD>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Union Pacific Corp.</name>
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        <name>Shopify, Inc.</name>
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        <name>Booking Holdings, Inc.</name>
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        <name>Tyler Technologies, Inc.</name>
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        <name>UnitedHealth Group, Inc.</name>
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        <name>Thermo Fisher Scientific, Inc.</name>
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        <name>Synopsys, Inc.</name>
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        <name>MongoDB, Inc.</name>
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        <name>Visa, Inc.</name>
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        <name>Parker-Hannifin Corp.</name>
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        <name>Illinois Tool Works, Inc.</name>
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        <name>Institutional Fiduciary Trust - Money Market Portfolio</name>
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        <title>Institutional Fiduciary Trust - Money Market Portfolio</title>
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        <name>Fastenal Co.</name>
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        <name>Lam Research Corp.</name>
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        <name>INSTITUTIONAL FIDUCIARY TRUST</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>
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        <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>546901.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>133668073.41000000</valUSD>
        <pctVal>0.689838505685</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>359745.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>332584252.50000000</valUSD>
        <pctVal>1.716411540213</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>115218017.46000000</valUSD>
        <pctVal>0.594620861698</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>317029403.22000000</valUSD>
        <pctVal>1.636135572215</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>2024-10-30</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>
