Franklin Premier Income Trust: Sit reports 30.1 % stake

Sit Investment Associates, Inc. and Sit Fixed Income Advisors II, LLC filed Amendment No. 13 to a Schedule 13D regarding Franklin Premier Income Trust common stock.

Accepted by SEC EDGAR 07/29/2026 - 12:18 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

Sit Investment Associates, Inc. and Sit Fixed Income Advisors II, LLC filed Amendment No. 13 to a Schedule 13D regarding Franklin Premier Income Trust common stock. They report beneficial ownership of 28,756,835 Shares, representing 30.1 % of the fund’s outstanding common stock, based on 95,567,537 Shares outstanding as of January 31, 2026.

Each Sit entity has shared voting and dispositive power over all reported Shares and no sole power. The Shares are held in client accounts of SIA and SFI; those clients are entitled to dividends and sale proceeds, while no individual client holds more than 5 % of outstanding Shares and no SIA or SFI director or executive officer holds Shares directly. The reported event date is July 27, 2026, with recent client-account transactions summarized in an attached exhibit.

Key Figures

Beneficial ownership: 28,756,835 Shares Percent of class: 30.1 % Shares outstanding: 95,567,537 Shares +3 more

6 metrics

Beneficial ownership 28,756,835 Shares Aggregate Shares beneficially owned by each Sit reporting person

Percent of class 30.1 % Portion of Franklin Premier Income Trust common stock held by Sit entities

Shares outstanding 95,567,537 Shares Total Shares outstanding as of January 31, 2026 per Form N-CSRS

Shared voting power 28,756,835.00 Shares over which each Sit reporting person has shared voting power

Sole voting power 0.00 Shares over which each Sit reporting person has sole voting power

Date of event 07/27/2026 Date of event requiring the amended Schedule 13D filing

Key Terms

beneficially owned, Shared Voting Power, Shared Dispositive Power, Form N-CSRS

4 terms

beneficially owned regulatory

"aggregate number of Shares and percentages of the Shares beneficially owned by each of the Reporting Persons."

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Shared Voting Power regulatory

"Shared Voting Power 28,756,835.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

Shared Dispositive Power regulatory

"Shared Dispositive Power 28,756,835.00"

Form N-CSRS regulatory

"which is the total number of Shares outstanding as reported in the Issuer's Form N-CSRS."

Form N-CSR is a standardized, certified shareholder report that registered investment funds file with the U.S. Securities and Exchange Commission to disclose audited financial statements, portfolio holdings, results and management commentary. For investors it serves like a fund’s official report card and audited financial statement—helping verify transparency, spot shifts in strategy or risk, and compare funds when deciding where to put money.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What ownership stake in PPT did the Sit entities report?

Sit entities reported beneficial ownership of 28,756,835 Shares of Franklin Premier Income Trust, equal to 30.1 % of the outstanding common stock, based on 95,567,537 Shares outstanding as of January 31, 2026.

What voting power do the Sit entities have over PPT shares?

Each Sit entity has 0 Shares with sole voting power and 28,756,835.00 Shares with shared voting power, matching their shared dispositive power over the same number of Shares.

How are the PPT shares held by Sit Investment Associates’ clients structured?

The reported Shares are held in client accounts of SIA and SFI. Clients receive dividends and sale proceeds, no single client holds more than 5 % of outstanding Shares, and no SIA or SFI director or executive officer holds Shares directly.

What date triggered this Schedule 13D/A Amendment No. 13 for PPT?

The triggering event date is July 27, 2026. This date is used as the reference point for the ownership information disclosed in Amendment No. 13 to the Schedule 13D for Franklin Premier Income Trust.

On what share count is the 30.1 % PPT ownership calculation based?

The 30.1 % ownership figure is based on 95,567,537 Shares of Franklin Premier Income Trust outstanding as of January 31, 2026, as reported in the issuer’s Form N-CSRS regulatory filing.

Do Sit entities disclose recent trading activity in PPT?

Yes. The amendment states that transactions in Shares during the past 60 days by the Sit entities are listed in Exhibit A, which provides a schedule of recent trades in Franklin Premier Income Trust Shares.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 13)

Franklin Premier Income Trust

(Name of Issuer)

Common Stock

(Title of Class of Securities)

746853100

(CUSIP Number)

Paul E. Rasmussen
80 South Eighth Street, Suite 3300
Minneapolis, MN, 55402-4130
612-332-3223

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

07/27/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 746853100

1

Name of reporting person

Sit Investment Associates, Inc.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

MINNESOTA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 28,756,835.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 28,756,835.00

11

Aggregate amount beneficially owned by each reporting person

28,756,835.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

30.1 %

14

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13D

CUSIP Number(s): 746853100

1

Name of reporting person

Sit Fixed Income Advisors II, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 28,756,835.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 28,756,835.00

11

Aggregate amount beneficially owned by each reporting person

28,756,835.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

30.1 %

14

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock
(b)	Name of Issuer: Franklin Premier Income Trust
(c)	Address of Issuer's Principal Executive Offices: 100 FEDERAL STREET, BOSTON, MASSACHUSETTS , 02110.
Item 1 Comment: This Amendment No. 13 ("Amendment") amends and supplements the statement on Schedule 13D filed on October 2, 2023, and amended by Amendment No. 1 filed on January 4, 2024, Amendment No. 2 filed on April 3, 2024, Amendment 3 filed on May 7, 2024, Amendment No. 4 filed on September 9, 2024, Amendment No. 5 filed on December 12, 2024, Amendment No. 6 filed January 8, 2025, Amendment No. 7 filed on March 19, 2025, Amendment No. 8 filed on April 8, 2025, Amendment No. 9 filed on May 9, 2025, Amendment No. 10 filed on July 17, 2025, Amendment No. 11 filed on August 29, 2025, and Amendment No. 12 filed on November 21, 2025 (as amended, the "Original Schedule 13D" and, as amended by this Amendment, the "Schedule 13D"), relating to the shares of Common Stock ("Shares)" of Franklin Premier Income Trust (the "Issuer"). Except as specifically provided herein, each Item of the Original Schedule 13D remains unchanged. Capitalized terms used but not otherwise defined herein have the meanings set forth in the Original Schedule 13D.
Item 5.	Interest in Securities of the Issuer
(a)	See responses on each cover page of this Schedule 13D for the aggregate number of Shares and percentages of the Shares beneficially owned by each of the Reporting Persons. The aggregate percentage of Shares reported owned by Sit Entities herein is based upon 95,567,537 Shares outstanding as of January 31, 2026, which is the total number of Shares outstanding as reported in the Issuer's Form N-CSRS.
(b)	See responses on each cover page of this Schedule 13D for the number of Shares as to which each Reporting Person has the sole or shared power to vote or direct the vote and sole of shared power to dispose or to direct the disposition. Each of the Sit Entities may be deemed to have shared power to vote and dispose of such Shares. However, none of SIA's or SFI's client accounts own more than 5% of the shares outstanding, and none of SIA's or SFI's directors or executive officers own shares directly.
(c)	Transactions in Shares effected during the past 60 days by the Sit Entities are set forth in Exhibit A.
(d)	The clients of SIA and SFI have the right to participate in the receipt of dividends from, or proceeds from the sales of, the Shares held for their respective accounts.
(e)	Not applicable
Item 7.	Material to be Filed as Exhibits.
	Exhibit A: Schedule of Transactions in Shares by Sit Entities in the last 60 days.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Sit Investment Associates, Inc.

Signature:	/s/ Roger J. Sit
Name/Title:	Roger J. Sit, Chairman & CEO
Date:	07/29/2026

Sit Fixed Income Advisors II, LLC

Signature:	/s/ Roger J. Sit
Name/Title:	Roger J. Sit, Chairman & CEO
Date:	07/29/2026