SCHEDULE: Franklin Resources Boosts PulteGroup Stake to 6.5%

Franklin Resources, Inc. and its affiliates have reported a 6.5% beneficial ownership stake in homebuilder PulteGroup, Inc. as of September 30, 2025.

Summary

• Franklin Resources, Inc. and its affiliates collectively beneficially own 12,900,271 common shares of PulteGroup, Inc.
• This ownership represents 6.5% of PulteGroup, Inc.'s outstanding common shares.
• The filing is an Amendment No. 2 to a previous Schedule 13G statement.
• Franklin Resources, Inc. holds sole voting power over 12,527,678 shares and sole dispositive power over 12,899,986 shares.
• Shared dispositive power is held over 285 shares by The Putnam Advisory Company, LLC.
• Charles B. Johnson and Rupert H. Johnson, Jr., as principal stockholders of Franklin Resources, Inc., may be deemed beneficial owners for reporting purposes but disclaim pecuniary interest in the securities.
• The securities are held by various investment management subsidiaries of Franklin Resources, Inc. for their clients, including registered investment companies and other managed accounts.

Sentiment

Score: 5

Explanation: The filing is a routine beneficial ownership report (Schedule 13G Amendment), indicating a passive investment. It does not contain information that would inherently suggest a positive or negative sentiment towards the issuer's operational performance or future prospects, beyond the general positive signal of significant institutional ownership.

Positives

• A significant institutional investor, Franklin Resources, Inc., maintains a substantial 6.5% stake in PulteGroup, Inc., indicating continued confidence in the company.
• The diversified nature of the beneficial ownership across various investment management subsidiaries suggests a broad institutional interest.

Risks

• Attorneys-in-fact for Charles B. Johnson and Rupert H. Johnson, Jr. disclaim liability for the undersigned's responsibility to comply with Exchange Act requirements, including profit disgorgement under Section 16(b).
• The Limited Power of Attorney does not relieve the undersigned from responsibility for compliance with their obligations under the Exchange Act, including reporting requirements under Section 16.

Future Outlook

The filing does not provide any forward-looking statements or guidance regarding PulteGroup, Inc.'s future performance or operations.

Management Comments

• Franklin Resources, Inc. certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose or effect of changing or influencing control of the issuer.

Industry Context

This filing reflects a standard disclosure by a major asset manager, Franklin Resources, Inc., regarding its passive investment in a publicly traded homebuilding company. Such institutional holdings are common across the industry and provide transparency into significant investor positions.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake provides transparency and may be viewed as a vote of confidence from a major asset manager.

Key Dates

Keywords

PulteGroup, Franklin Resources, Beneficial Ownership, Schedule 13G, Institutional Investor, Common Shares, Homebuilder, Investment Management