Morningstar

Franklin Small Cap Growth Fund Class R6 FSMLX

Morningstar Medalist Rating
Medalist Rating as of | See Franklin Templeton Investment Hub
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Morningstar’s Analysis FSMLX

Will FSMLX outperform in the future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable FSMLX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the FSMLX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of FSMLX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Second new management team in a year.

Analyst Drew Carter

Drew Carter

Analyst

Summary

Franklin Small Cap Growth will see its second leadership change in less than a year in October 2026, creating additional uncertainty after longtime lead manager Michael McCarthy retired at year-end 2025. While the incoming managers show some promise, they have much to prove. This strategy includes mutual fund and separately managed account vehicles.

by Drew Carter
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Portfolio Holdings FSMLX

More FSMLX Holdings
  • Current Portfolio Date
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  • % Assets in Top 10 Holdings 19.8
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Onto Innovation Inc

2.42 63M
Technology

SiTime Corp Ordinary Shares

2.16 56M
Technology

Lattice Semiconductor Corp

2.12 55M
Technology

Arcosa Inc

2.05 54M
Industrials

BWX Technologies Inc

2.03 53M
Industrials

AAON Inc

1.89 49M
Industrials

RBC Bearings Inc

1.83 48M
Industrials

Granite Construction Inc

1.82 48M
Industrials

Forgent Power Solutions Inc Ordinary Shares - Class A

1.81 47M
Industrials

Jazz Pharmaceuticals PLC

1.71 45M
Healthcare

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