<SEC-DOCUMENT>0001225208-12-013212.txt : 20120529
<SEC-HEADER>0001225208-12-013212.hdr.sgml : 20120528
<ACCEPTANCE-DATETIME>20120529091507
ACCESSION NUMBER:		0001225208-12-013212
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20120522
FILED AS OF DATE:		20120529
DATE AS OF CHANGE:		20120529

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Holmes Selena Lee
		CENTRAL INDEX KEY:			0001550874

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-05569
		FILM NUMBER:		12872741

	MAIL ADDRESS:	
		STREET 1:		FRANKLIN TEMPLETON INVESTMENTS
		STREET 2:		160 FOUNTAIN PARKWAY
		CITY:			ST. PETERSBURG
		STATE:			FL
		ZIP:			33716

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FRANKLIN UNIVERSAL TRUST
		CENTRAL INDEX KEY:			0000833040
		IRS NUMBER:				943077602
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0831

	BUSINESS ADDRESS:	
		STREET 1:		ONE FRANKLIN PARKWAY
		CITY:			SAN MATEO
		STATE:			CA
		ZIP:			94403-1906
		BUSINESS PHONE:		650-312-2000

	MAIL ADDRESS:	
		STREET 1:		ONE FRANKLIN PARKWAY
		CITY:			SAN MATEO
		STATE:			CA
		ZIP:			94403-1906
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>doc3.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0205</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2012-05-22</periodOfReport>

    <noSecuritiesOwned>1</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000833040</issuerCik>
        <issuerName>FRANKLIN UNIVERSAL TRUST</issuerName>
        <issuerTradingSymbol>FT</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001550874</rptOwnerCik>
            <rptOwnerName>Holmes Selena Lee</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>FRANKLIN TEMPLETON INVESTMENTS</rptOwnerStreet1>
            <rptOwnerStreet2>160 FOUNTAIN PARKWAY, 2ND FLOOR</rptOwnerStreet2>
            <rptOwnerCity>ST. PETERSBURG</rptOwnerCity>
            <rptOwnerState>FL</rptOwnerState>
            <rptOwnerZipCode>33716</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isOfficer>1</isOfficer>
            <officerTitle>VP AML Compliance</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable></nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes></footnotes>

    <ownerSignature>
        <signatureName>Lori A. Weber, Attorney-In-Fact</signatureName>
        <signatureDate>2012-05-25</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
