Franklin Convertible Securities Fund
Franklin Investors Securities Trust · 4 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
Franklin Convertible Securities Fund is an actively managed U.S. bond fund. 0% of FISCX’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 100% of the fund’s equity).
- Asset class
- Bonds
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Credit quality
- High yield
- Rate sensitivity
- Short duration
Fund profile
As filed in the prospectus · 2026 Q1
To maximize total return, consistent with reasonable risk, by seeking to optimize capital appreciation and high current income under varying market conditions.
The fund invests at least 80% of its net assets in convertible securities—debt or preferred stock convertible into common equity—seeking to balance equity upside participation with fixed-income stability and reduced volatility. The manager emphasizes equity characteristics while evaluating issuers' long-term earnings, asset value, and cash flow, and may hold enhanced convertible structures that trade conversion premiums for improved yield or downside protection. Convertible securities typically carry below-investment-grade ratings, so the fund may hold up to 100% in non-investment-grade debt. Because security selection depends on the manager's assessment of individual issuers and equity features, performance will diverge from any benchmark.
| Share class | Gross | Net |
|---|---|---|
| FISCX | 0.83% | 0.82% |
| FROTX | 1.58% | 1.57% |
| FCSZX | 0.58% | 0.57% |
| FCSKX | 0.52% | 0.51% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 30.12% · as of 2026 Q1
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 73.88% |
| Stocks | 21.70% |
| Cash & short-term | 3.96% |
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Information Technology | 20.1% |
| Health Care | 13.3% |
| Other | 10.0% |
| Utilities | 9.8% |
| 10 smaller | 46.9% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Portfolio growth profile
How much of the fund’s stock holdings are in fast-growing companies · as of 2026 Q1
Share of the fund’s equity (by value) in companies whose trailing five-year revenue — or net-income — growth ranks in the top 25% of U.S. public companies. Foreign and newly-listed holdings are excluded, so the figure covers only part of the book. From SEC filings — not investment advice. How we measure this.
Latest quarter
What changed since the fund's previous filing
New: Bridgebio Pharma, Inc., Integer Holdings Corp., Oracle Corp., PPL Corp., Indivior Pharmaceuticals, Inc., Alkami Technology, Inc.
Exited: Bridgebio Pharma, Inc., Integer Holdings Corp., Liberty Broadband Corp., Viavi Solutions, Inc., Oil States International, Inc., Haemonetics Corp., Alkami Technology, Inc., WOLF
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +21.21% | +47.06% | +30.23% | 7.44% | -8.38% | |
| +20.33% | +43.79% | +25.41% | 7.45% | -8.56% | |
| +21.52% | +48.16% | +31.84% | 7.46% | -8.32% | |
| +21.64% | +48.42% | +32.34% | 7.47% | -8.32% |
These classes hold the same portfolio, so the 6.93pp spread over 5 years is the cost difference between them — roughly 1.39pp a year — not a difference in what they own.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-04-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 80.6% |
| Zero-coupon or unclassified | 19.4% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 11.6% |
| 1-3y | 27.7% |
| 3-5y | 49.0% |
| 5-10y | 9.7% |
| 10y+ | 1.9% |
These three overlap — one holding can be in arrears and paying in kind at once — so they are shown separately and never summed.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
More of this fund’s sensitivity sits in credit spreads than in interest rates — a rate rally that comes with a credit selloff works against it.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Credit spreads | 60% |
| Interest rates | 40% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| High yield | +1.25 yr |
| Investment grade | +0.21 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.01 yr | 1% |
| 1 yr | 0.34 yr | 34% |
| 5 yr | 0.62 yr | 63% |
| 10 yr | 0.02 yr | 2% |
| 30 yr | 0.00 yr | 0% |
| 3 mo | 0.03 yr | 2% |
| 1 yr | 0.47 yr | 32% |
| 5 yr | 0.94 yr | 64% |
| 10 yr | 0.03 yr | 2% |
30 yr is NEGATIVE (-0.00 yr) — a deliberate hedge at that point on the curve, so it is not part of the band above.
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.01 | +0.02 | +0.01 | $4.7k | $2.8k |
| 1 yr | +0.34 | +0.06 | +0.41 | $16.3k | $122.0k |
| 5 yr | +0.62 | +0.14 | +0.80 | $41.7k | $236.0k |
| 10 yr | +0.02 | +0.00 | +0.03 | $187 | $8.7k |
| 30 yr | +0.00 | +0.00 | -0.00 | $0 | -$256 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| INFXX | Franklin Institutional U.S. Government Money Market FundINFXX | 3.96% | — | $117.20M | — |
| — | Albemarle Corp. | 2.80% | $77.94 | $82.87M | 1.1M |
| — | Welltower OP LLC3.13% · due 2029-07-15 | 2.76% | — | $81.45M | — |
| — | MACOM Technology Solutions Holdings, Inc.0.00% · due 2029-12-15 | 2.71% | — | $80.00M | — |
| — | MKS, Inc.1.25% · due 2030-06-01 | 2.67% | — | $78.78M | — |
| — | Hewlett Packard Enterprise Co. | 2.64% | $76.62 | $78.15M | 1.0M |
| — | Bridgebio Pharma, Inc.1.75% · due 2031-03-01 | 2.58% | — | $76.32M | — |
| — | Burlington Stores, Inc.1.25% · due 2027-12-15 | 2.33% | — | $68.99M | — |
| — | CenterPoint Energy, Inc.4.25% · due 2026-08-15 | 2.09% | — | $61.74M | — |
| — | NextEra Energy, Inc. | 2.08% | $59.04 | $61.40M | 1.0M |
Reported price is the fund's own reported value divided by its own reported shares at 2026-04-30 — not a live quote, and not what the fund paid.
Top 10 positions are 26.62% of net assets, top 25 53.18%, across 66 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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