UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-05569
(Exact name of registrant as specified in charter)
One Franklin Parkway, San Mateo, CA 94403-1906
(Address of principal executive offices) (Zip code)
Alison Baur
Franklin Templeton
One Franklin Parkway,
San Mateo, CA 94403-1906
(Name and address of agent for service)
Registrant’s telephone number, including area code: (650) 312-2000
Date of fiscal year end: August 31
Date of reporting period:
| ITEM 1. | REPORT TO STOCKHOLDERS. |
(a) The Report to Shareholders is filed herewith
(b) Not applicable
| ITEM 2. | CODE OF ETHICS. |
Not applicable.
| ITEM 3. | AUDIT COMMITTEE FINANCIAL EXPERT. |
Not applicable.
| ITEM 4. | PRINCIPAL ACCOUNTANT FEES AND SERVICES. |
Not applicable.
| ITEM 5. | AUDIT COMMITTEE OF LISTED REGISTRANTS. |
Not applicable.
| ITEM 6. | SCHEDULE OF INVESTMENTS. |
| (a) | Please see schedule of investments contained in the Financial Statements and Financial Highlights included under Item1 of this Form N-CSR. |
| (b) | Not applicable |
| ITEM 7. | FINANCIAL STATEMENTS AND FINANCIAL HIGHLIGHTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES. |
Not applicable.
| ITEM 8. | CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES. |
Not applicable.
| ITEM 9. | PROXY DISCLOSURES FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES. |
Not applicable.
| ITEM 10. | REMUNERATION PAID TO DIRECTORS, OFFICERS, AND OTHERS OF OPEN-END MANAGEMENT INVESTMENT COMPANIES. |
Not applicable.
| ITEM 11. | STATEMENT REGARDING BASIS FOR APPROVAL OF INVESTMENT ADVISORY CONTRACT. |
The information is disclosed as part of the Financial Statements included in Item 1 of this Form N-CSR, as applicable.
| ITEM 12. | DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES. |
Not applicable.
| ITEM 13. | PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES. |
Not applicable.
| ITEM 14. | Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers. |
| ITEM 15. | SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS. |
There have been no changes to the procedures by which shareholders may recommend nominees to the Registrant’s Board of Trustees that would require disclosure herein.
| ITEM 16. | CONTROLS AND PROCEDURES. |
| (a) | The Registrant’s chief executive officer and chief financial officer have concluded that the Registrant’s disclosure controls and procedures (as defined in Rule 30a- 3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the disclosure controls and procedures required by Rule 30a-3(b) under the 1940 Act and 15d-15(b) under the Securities Exchange Act of 1934. |
| (b) | There were no changes in the Registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the period covered by this report that have materially affected, or are likely to materially affect the Registrant’s internal control over financial reporting. |
| Item 17. | Disclosure of Securities Lending Activities for Closed-End Management Investment Company. |
| ITEM 18. | RECOVERY OF ERRONEOUSLY AWARDED COMPENSATION. |
| (a) | Not applicable. |
| (b) | Not applicable. |
| ITEM 19. | EXHIBITS. |
(a) (1) Not applicable.
Exhibit 99.CODE ETH
(a) (2) Certifications pursuant to section 302 of the Sarbanes-Oxley Act of 2002 attached hereto.
Exhibit 99.CERT
(b) Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 attached hereto.
Exhibit 99.906CERT
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this Report to be signed on its behalf by the undersigned, there unto duly authorized.
Franklin Universal Trust
| By: | /s/ Christopher Kings | |
| Christopher Kings | ||
| Chief Executive Officer – Finance and Administration | ||
| Date: | April 30, 2026 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
| By: | /s/ Christopher Kings | |
| Christopher Kings | ||
| Chief Executive Officer – Finance and Administration | ||
| Date: | April 30, 2026 | |
| By: | /s/ Jeffrey White | |
| Jeffrey White | ||
| Chief Financial Officer, Chief Accounting Officer and Treasurer | ||
| Date: | April 30, 2026 |
CERTIFICATIONS PURSUANT TO SECTION 302
EX-99.CERT
CERTIFICATIONS
I, Christopher Kings, certify that:
| 1. | I have reviewed this report on Form N-CSR of Franklin Universal Trust; |
| 2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
| 3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; |
| 4. | The registrant’s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: |
| a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
| b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
| c) | Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and |
| d) | Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and |
| 5. | The registrant’s other certifying officers and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions): |
| a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and |
| b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting. |
| Date: | April 30, 2026 | |
| /s/ Christopher Kings | ||
| Christopher Kings | ||
| Chief Executive Officer – Finance and Administration |
CERTIFICATIONS
I, Jeffrey White, certify that:
| 1. | I have reviewed this report on Form N-CSR of Franklin Universal Trust; |
| 2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
| 3. | Based on my knowledge, the financial information included in this report, and the financial statements on which the financial information is based, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; |
| 4. | The registrant’s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: |
| a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
| b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and
| d) | Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and |
| 5. | The registrant’s other certifying officers and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions): |
| a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and |
| b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting. |
| Date: | April 30, 2026 |
| /s/ Jeffrey White | |
| Jeffrey White | |
| Chief Financial Officer, Chief Accounting Officer and Treasurer |
CERTIFICATIONS PURSUANT TO SECTION 906
EX-99.906CERT
CERTIFICATION
Christopher Kings, Chief Executive Officer – Finance and Administration, and Jeffrey White, Chief Financial Officer, Chief Accounting Officer and Treasurer, of Franklin Universal Trust (the “Registrant”), each certify to the best of their knowledge that:
1. The Registrant’s periodic report on Form N-CSR for the period ended February 28, 2026 (the “Form N-CSR”) fully complies with the requirements of Section 13(a) or 15(d), as applicable, of the Securities Exchange Act of 1934, as amended; and
2. The information contained in the Form N-CSR fairly presents, in all material respects, the financial condition and results of operations of the Registrant.
| Chief Executive Officer – Finance and Administration |
Chief Financial Officer, Chief Accounting Officer and Treasurer | |
| Franklin Universal Trust | Franklin Universal Trust | |
| /s/ Christopher Kings | /s/ Jeffrey White | |
| Christopher Kings | Jeffrey White | |
| Date: April 30, 2026 | Date: April 30, 2026 |
This certification is being furnished to the Securities and Exchange Commission solely pursuant to 18 U.S.C. § 1350 and is not being filed as part of the Form N-CSR with the Commission.
|
Distribution Per Share |
Net Investment Income |
Net Realized Short-Term Capital Gains |
Net Realized Long-Term Capital Gains |
Return of Capital |
|
$0.0425 |
$0.0366 (86%) |
$0.00 (0%) |
$0.00 (0%) |
$0.0059 (14%) |
|
Distribution Per Share |
Net Investment Income |
Net Realized Short-Term Capital Gains |
Net Realized Long-Term Capital Gains |
Return of Capital |
|
$0.5100 |
$0.3313 (65%) |
$0.0119 (2%) |
$0.00 (0%) |
$0.1668 (33%) |
|
Average
Annual Total Return (in relation to the change in net asset value (NAV) for
the 5-year period ended on 8/31/2025)1 |
Annualized
Distribution Rate (as a percentage of NAV for the current fiscal period
through 8/31/2025)2 |
Cumulative
Total Return (in relation to the change in NAV for the fiscal period through 8/31/2025)3 |
Cumulative
Fiscal Year-To-Date Distribution Rate (as a percentage of NAV as of 8/31/2025)4 |
|
7.41% |
6.03% |
9.71% |
6.03% |
|
Distribution Per Share |
Net Investment Income |
Net Realized Short-Term Capital Gains |
Net Realized Long-Term Capital Gains |
Return of Capital |
|
$0.0425 |
$0.0260 (61%) |
$0.0018 (4%) |
$0.00 (0%) |
$0.0147 (35%) |
|
Distribution Per Share |
Net Investment Income |
Net Realized Short-Term Capital Gains |
Net Realized Long-Term Capital Gains |
Return of Capital |
|
$0.0425 |
$0.0260 (61%) |
$0.0018 (4%) |
$0.00 (0%) |
$0.0147 (35%) |
|
Average
Annual Total Return (in relation to the change in net asset value (NAV) for
the 5-year period ended on 9/30/2025)1 |
Annualized
Distribution Rate (as a percentage of NAV for the current fiscal period
through 9/30/2025)2 |
Cumulative
Total Return (in relation to the change in NAV for the fiscal period through 9/30/2025)3 |
Cumulative
Fiscal Year-To-Date Distribution Rate (as a percentage of NAV as of 9/30/2025)4 |
|
8.06% |
5.92% |
2.39% |
0.49% |
|
Distribution Per Share |
Net Investment Income |
Net Realized Short-Term Capital Gains |
Net Realized Long-Term Capital Gains |
Return of Capital |
|
$0.0425 |
$0.0268 (63%) |
$0.0009 (2%) |
$0.00 (0%) |
$0.0148 (35%) |
|
Distribution Per Share |
Net Investment Income |
Net Realized Short-Term Capital Gains |
Net Realized Long-Term Capital Gains |
Return of Capital |
|
$0.0850 |
$0.0528 (62%) |
$0.0027 (3%) |
$0.00 (0%) |
$0.0295 (35%) |
|
Average
Annual Total Return (in relation to the change in net asset value (NAV) for
the 5-year period ended on 10/31/2025)1 |
Annualized
Distribution Rate (as a percentage of NAV for the current fiscal period
through 10/31/2025)2 |
Cumulative
Total Return (in relation to the change in NAV for the fiscal period through 10/31/2025)3 |
Cumulative
Fiscal Year-To-Date Distribution Rate (as a percentage of NAV as of 10/31/2025)4 |
|
7.68% |
5.91% |
3.02% |
0.98% |
|
Distribution Per Share |
Net Investment Income |
Net Realized Short-Term Capital Gains |
Net Realized Long-Term Capital Gains |
Return of Capital |
|
$0.0425 |
$0.0358 (84%) |
$0.0004 (1%) |
$0.00 (0%) |
$0.0061 (15%) |
|
Distribution Per Share |
Net Investment Income |
Net Realized Short-Term Capital Gains |
Net Realized Long-Term Capital Gains |
Return of Capital |
|
$0.1275 |
$0.0886 (70%) |
$0.0031 (2%) |
$0.00 (0%) |
$0.0358 (28%) |
|
Average
Annual Total Return (in relation to the change in net asset value (NAV) for
the 5-year period ended on 11/30/2025)1 |
Annualized
Distribution Rate (as a percentage of NAV for the current fiscal period
through 11/30/2025)2 |
Cumulative
Total Return (in relation to the change in NAV for the fiscal period through 11/30/2025)3 |
Cumulative
Fiscal Year-To-Date Distribution Rate (as a percentage of NAV as of 11/30/2025)4 |
|
7.31% |
5.84% |
4.84% |
1.46% |
|
January
2026 Distributions |
||||||
|
|
|
|
Estimated
sources of distributions |
|||
|
Fund |
Ticker |
Per
Share Distribution |
Net
Investment Income |
Net
realized short-term capital gains |
Net
realized long-term capital gains |
Return
of Capital |
|
Franklin
Universal Trust |
FT |
$0.0425 |
$0.0259 |
- |
- |
$0.0166 |
|
February
2026 Distributions |
||||||
|
|
|
|
Estimated
sources of distributions |
|||
|
Fund |
Ticker |
Per
Share Distribution |
Net
Investment Income |
Net
realized short-term capital gains |
Net
realized long-term capital gains |
Return
of Capital |
|
Franklin
Universal Trust |
FT |
$0.0425 |
$0.0223 |
- |
- |
$0.0202 |
N-2 |
6 Months Ended |
|---|---|
Feb. 28, 2026 | |
| Cover [Abstract] | |
| Entity Central Index Key | 0000833040 |
| Amendment Flag | false |
| Document Type | N-CSR |
| Entity Registrant Name | Franklin Universal Trust |
| Document Period End Date | Feb. 28, 2026 |