Schedules of Investments (unaudited)
June 30, 2026
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 Franklin ClearBridge Enhanced Income ETF

(Percentages shown based on Fund net assets) 
Security
 
 
 
Shares
Value
Common Stocks — 98.4%
Communication Services — 9.6%
Diversified Telecommunication Services — 2.2%
Comcast Corp., Class A Shares
143,631
 $3,526,141
 
Entertainment — 0.7%
Walt Disney Co.
10,999
1,058,654
 
Interactive Media & Services — 5.1%
Alphabet Inc., Class A Shares
15,900
5,682,183
 
Meta Platforms Inc., Class A Shares
4,562
2,569,729
 
Total Interactive Media & Services
8,251,912
Wireless Telecommunication Services — 1.6%
T-Mobile US Inc.
15,696
2,632,690
 
 
Total Communication Services
15,469,397
Consumer Discretionary — 3.0%
Specialty Retail — 3.0%
Home Depot Inc.
6,210
2,190,143
 
Industria de Diseno Textil SA, ADR
171,250
2,700,612
 
 
Total Consumer Discretionary
4,890,755
Consumer Staples — 7.9%
Beverages — 1.9%
Coca-Cola Co.
38,893
3,160,834
 
Food Products — 2.9%
Nestle SA, ADR
45,224
4,644,053
 
Household Products — 0.5%
Procter & Gamble Co.
5,616
823,530
 
Personal Care Products — 2.6%
Unilever PLC, ADR
69,342
4,168,841
 
 
Total Consumer Staples
12,797,258
Energy — 8.5%
Oil, Gas & Consumable Fuels — 8.5%
Exxon Mobil Corp.
46,731
6,389,062
 
Williams Cos. Inc.
98,315
7,308,737
 
 
Total Energy
13,697,799
Financials — 17.9%
Banks — 4.1%
JPMorgan Chase & Co.
12,098
3,960,038
 
PNC Financial Services Group Inc.
10,675
2,628,399
 
Total Banks
6,588,437
Capital Markets — 1.7%
Blackstone Inc.
23,611
2,778,306
 
Consumer Finance — 1.3%
Capital One Financial Corp.
10,578
2,122,158
 
Financial Services — 4.5%
Apollo Global Management Inc.
37,040
4,382,203
 
Visa Inc., Class A Shares
8,403
2,882,985
 
Total Financial Services
7,265,188
Insurance — 6.3%
Marsh & McLennan Cos. Inc.
23,896
3,982,746
 
See Notes to Schedules of Investments.
1
ClearBridge ETFs 2026 Quarterly Report
Schedules of Investments (unaudited) (cont’d)
June 30, 2026
 Franklin ClearBridge Enhanced Income ETF
(Percentages shown based on Fund net assets)
Security
 
 
 
Shares
Value
 
Insurance — continued
MetLife Inc.
36,543
 $3,091,903
 
Travelers Cos. Inc.
9,229
3,046,678
 
Total Insurance
10,121,327
 
Total Financials
28,875,416
Health Care — 11.5%
Health Care Equipment & Supplies — 2.0%
Becton Dickinson & Co.
21,624
3,272,360
 
Health Care Providers & Services — 2.3%
CVS Health Corp.
35,480
3,670,406
 
Pharmaceuticals — 7.2%
AstraZeneca PLC
11,254
2,133,984
 
Haleon PLC, ADR
394,382
3,679,584
 
Johnson & Johnson
12,336
3,132,974
 
Roche Holding AG, ADR
52,201
2,680,521
 
Total Pharmaceuticals
11,627,063
 
Total Health Care
18,569,829
Industrials — 12.0%
Aerospace & Defense — 1.6%
Honeywell Aerospace Inc.
4,429
979,163
 *
RTX Corp.
8,298
1,574,380
 
Total Aerospace & Defense
2,553,543
Commercial Services & Supplies — 1.6%
Waste Management Inc.
11,197
2,495,587
 
Ground Transportation — 3.8%
Old Dominion Freight Line Inc.
10,303
2,231,630
 
Union Pacific Corp.
14,198
3,861,856
 
Total Ground Transportation
6,093,486
Industrial Conglomerates — 0.6%
Honeywell International Inc.
4,429
991,653
 
Machinery — 2.4%
Otis Worldwide Corp.
54,798
3,923,537
 
Professional Services — 2.0%
Automatic Data Processing Inc.
14,421
3,229,583
 
 
Total Industrials
19,287,389
Information Technology — 14.9%
Electronic Equipment, Instruments & Components — 1.3%
TE Connectivity PLC
10,241
2,064,688
 
Semiconductors & Semiconductor Equipment — 9.1%
Broadcom Inc.
9,417
3,557,272
 
NVIDIA Corp.
23,930
4,788,154
 
Taiwan Semiconductor Manufacturing Co. Ltd., ADR
5,646
2,696,360
 
Texas Instruments Inc.
12,087
3,602,772
 
Total Semiconductors & Semiconductor Equipment
14,644,558
Software — 2.6%
Microsoft Corp.
11,288
4,210,650
 
See Notes to Schedules of Investments.
2
ClearBridge ETFs 2026 Quarterly Report
 Franklin ClearBridge Enhanced Income ETF
(Percentages shown based on Fund net assets)
Security
 
 
 
Shares
Value
 
Technology Hardware, Storage & Peripherals — 1.9%
Apple Inc.
10,392
 $3,007,029
 
 
Total Information Technology
23,926,925
Materials — 6.0%
Chemicals — 4.3%
Air Products & Chemicals Inc.
15,234
4,466,304
 
Linde PLC
4,750
2,464,965
 
Total Chemicals
6,931,269
Construction Materials — 1.7%
Vulcan Materials Co.
9,196
2,712,912
 
 
Total Materials
9,644,181
Real Estate — 4.3%
Specialized REITs — 4.3%
American Tower Corp.
17,778
2,907,947
 
Public Storage
12,819
4,080,416
 
 
Total Real Estate
6,988,363
Utilities — 2.8%
Electric Utilities — 0.9%
PG&E Corp.
91,998
1,547,407
 
Multi-Utilities — 1.9%
Sempra
32,479
3,011,128
 
 
Total Utilities
4,558,535
Total Investments before Short-Term Investments (Cost — $139,757,151)
158,705,847
 
 
Rate
 
 
 
Short-Term Investments — 2.2%
JPMorgan 100% U.S. Treasury Securities Money Market Fund, Institutional Class
(Cost — $3,579,673)  
3.509%
3,579,673
 
3,579,673
 (a)
Total Investments — 100.6% (Cost — $143,336,824)
162,285,520
Liabilities in Excess of Other Assets — (0.6)%
(1,016,358
)
Total Net Assets — 100.0%
$161,269,162
 
*
Non-income producing security.
(a)
Rate shown is one-day yield as of the end of the reporting period.
 
Abbreviation(s) used in this schedule:
ADR
—
American Depositary Receipts
See Notes to Schedules of Investments.
3
ClearBridge ETFs 2026 Quarterly Report
Schedules of Investments (unaudited) (cont’d)
June 30, 2026
 Franklin ClearBridge Enhanced Income ETF
At June 30, 2026, the Fund had the following open written options contracts:
  
Exchange-Traded Written Options
Security
 
Expiration
Date
Strike
Price
Contracts
Notional
Amount
Value
S&P 500 Index, Call
7/2/26
 $7,900.000
35
 $26,247,760
 $(175)
S&P 500 Index, Call
7/10/26
7,825.000
35
26,247,760
(1,400)
S&P 500 Index, Call
7/17/26
7,800.000
36
26,997,696
(9,000)
S&P 500 Index, Call
7/24/26
7,800.000
36
26,997,696
(30,276)
S&P 500 Index, Call
7/31/26
7,690.000
36
26,997,696
(153,000)
Total Exchange-Traded Written Options (Premiums received — $396,410)
$(193,851)
This Schedule of Investments is unaudited and is intended to provide information about the Fund’s investments as of the date of the schedule. Other information regarding the Fund is available in the Fund’s most recent annual or semi-annual shareholder report.
See Notes to Schedules of Investments.
4
ClearBridge ETFs 2026 Quarterly Report
Schedules of Investments (unaudited) (cont’d)
June 30, 2026
 ClearBridge Large Cap Growth Select ETF
(Percentages shown based on Fund net assets)  
Security
 
 
 
Shares
Value
Common Stocks — 98.5%
Communication Services — 12.3%
Entertainment — 2.9%
Netflix Inc.
179,821
 $12,839,219
 *
Interactive Media & Services — 9.4%
Alphabet Inc., Class A Shares
38,386
13,718,005
 
Meta Platforms Inc., Class A Shares
48,339
27,228,875
 
Total Interactive Media & Services
40,946,880
 
Total Communication Services
53,786,099
Consumer Discretionary — 16.7%
Automobiles — 4.7%
Tesla Inc.
49,188
20,688,473
 *
Broadline Retail — 7.4%
Amazon.com Inc.
134,854
32,141,102
 *
Hotels, Restaurants & Leisure — 4.6%
Airbnb Inc., Class A Shares
91,114
13,038,414
 *
Chipotle Mexican Grill Inc.
208,874
7,101,716
 *
Total Hotels, Restaurants & Leisure
20,140,130
 
Total Consumer Discretionary
72,969,705
Consumer Staples — 2.2%
Beverages — 2.2%
Monster Beverage Corp.
101,133
9,720,904
 *
 
Financials — 6.3%
Capital Markets — 1.9%
Blackstone Inc.
71,114
8,367,984
 
Financial Services — 4.4%
Visa Inc., Class A Shares
55,983
19,207,208
 
 
Total Financials
27,575,192
Health Care — 6.1%
Biotechnology — 2.3%
Vertex Pharmaceuticals Inc.
20,106
9,987,253
 *
Health Care Equipment & Supplies — 2.1%
Intuitive Surgical Inc.
23,718
9,432,174
 *
Life Sciences Tools & Services — 1.7%
Thermo Fisher Scientific Inc.
14,499
7,269,219
 
 
Total Health Care
26,688,646
Industrials — 4.7%
Electrical Equipment — 3.0%
Eaton Corp. PLC
30,804
13,126,200
 
Machinery — 1.7%
Parker-Hannifin Corp.
7,763
7,593,146
 
 
Total Industrials
20,719,346
Information Technology — 47.4%
Communications Equipment — 1.8%
Arista Networks Inc.
47,079
7,997,780
 *
Semiconductors & Semiconductor Equipment — 23.2%
ASML Holding NV, Registered Shares
8,889
17,684,132
 
NVIDIA Corp.
340,837
68,198,075
 
See Notes to Schedules of Investments.
5
ClearBridge ETFs 2026 Quarterly Report
Schedules of Investments (unaudited) (cont’d)
June 30, 2026
 ClearBridge Large Cap Growth Select ETF
(Percentages shown based on Fund net assets)
Security
 
 
 
Shares
Value
 
Semiconductors & Semiconductor Equipment — continued
Taiwan Semiconductor Manufacturing Co. Ltd., ADR
33,133
 $15,823,327
 
Total Semiconductors & Semiconductor Equipment
101,705,534
Software — 14.1%
Datadog Inc., Class A Shares
31,175
8,116,723
 *
Intuit Inc.
16,936
4,420,296
 
Oracle Corp.
69,281
10,153,131
 
Palo Alto Networks Inc.
77,202
26,327,426
 *
ServiceNow Inc.
50,314
4,995,174
 *
Synopsys Inc.
17,773
7,928,002
 *
Total Software
61,940,752
Technology Hardware, Storage & Peripherals — 8.3%
Apple Inc.
124,841
36,123,992
 
 
Total Information Technology
207,768,058
Materials — 2.8%
Chemicals — 2.8%
Linde PLC
7,772
4,033,202
 
Sherwin-Williams Co.
24,331
8,377,650
 
 
Total Materials
12,410,852
Total Investments before Short-Term Investments (Cost — $311,211,104)
431,638,802
 
 
Rate
 
 
 
Short-Term Investments — 1.5%
JPMorgan 100% U.S. Treasury Securities Money Market Fund, Institutional Class
(Cost — $6,448,613)  
3.509%
6,448,613
 
6,448,613
 (a)
Total Investments — 100.0% (Cost — $317,659,717)
438,087,415
Liabilities in Excess of Other Assets — (0.0)%††
(107,680
)
Total Net Assets — 100.0%
$437,979,735
 
††
Represents less than 0.1%.
*
Non-income producing security.
(a)
Rate shown is one-day yield as of the end of the reporting period.
 
Abbreviation(s) used in this schedule:
ADR
—
American Depositary Receipts
This Schedule of Investments is unaudited and is intended to provide information about the Fund’s investments as of the date of the schedule. Other information regarding the Fund is available in the Fund’s most recent annual or semi-annual shareholder report.
See Notes to Schedules of Investments.
6
ClearBridge ETFs 2026 Quarterly Report
Notes to Schedules of Investments (unaudited)
1. Organization and significant accounting policies
Franklin ClearBridge Enhanced Income ETF (“Enhanced Income ETF’’) and ClearBridge Large Cap Growth Select ETF (“Large Cap Growth Select ETF”) (formerly ClearBridge Large Cap Growth ESG ETF) (the “Funds”) are separate investment series of Legg Mason ETF Investment Trust (the “Trust”). Enhanced Income ETF is a separate diversified investment series of the Trust. Large Cap Growth Select ETF is a separate non-diversified investment series of the Trust. The Trust, a Maryland statutory trust, is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company.       
The Funds are actively managed exchange-traded funds (“ETFs”). ETFs are funds that trade like other publicly-traded securities. Unlike shares of a mutual fund, which can be bought from and redeemed by the issuing fund by all shareholders at a price based on net asset value (“NAV”), shares of the Funds may be directly purchased from and redeemed by the Funds at NAV solely by certain large institutional investors who have entered into agreements with the Funds’ distributor (“Authorized Participants”). Also unlike shares of a mutual fund, shares of the Funds are listed on a national securities exchange and trade in the secondary market at market prices that change throughout the day.
Shares of the Funds are listed and traded at market prices on NASDAQ. The market price for a Fund’s shares may be different from a Fund’s NAV. The Funds issue and redeem shares at NAV only in blocks of a specified number of shares or multiples thereof (“Creation Units”). Only Authorized Participants may purchase or redeem Creation Units directly with the Funds at NAV. Creation Units are created and redeemed principally in-kind (although under some circumstances its shares are created and redeemed partially for cash). Except when aggregated in Creation Units, shares of the Funds are not redeemable securities. Shareholders who are not Authorized Participants may not redeem shares directly from the Funds at NAV.
The Funds follow the accounting and reporting guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 946, Financial Services – Investment Companies (“ASC 946”). The following are significant accounting policies consistently followed by the Funds and are in conformity with U.S. generally accepted accounting principles (“GAAP”), including, but not limited to, ASC 946.
(a) Investment valuation. Equity securities for which market quotations are available are valued at the last reported sales price or official closing price on the primary market or exchange on which they trade. The valuations for fixed income securities (which may include, but are not limited to, corporate, government, municipal, mortgage-backed, collateralized mortgage obligations and asset-backed securities) and certain derivative instruments are typically the prices supplied by independent third party pricing services, which may use market prices or broker/dealer quotations or a variety of valuation techniques and methodologies. The independent third party pricing services typically use inputs that are observable such as issuer details, interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar securities. Investments in open-end funds are valued at the closing net asset value per share of each fund on the day of valuation. When the Funds hold securities or other assets that are denominated in a foreign currency, the Funds will use the currency exchange rates, generally determined as of 4:00 p.m. (London Time). If independent third party pricing services are unable to supply prices for a portfolio investment, or if the prices supplied are deemed by the manager to be unreliable, the market price may be determined by the manager using quotations from one or more broker/dealers or at the transaction price if the security has recently been purchased and no value has yet been obtained from a pricing service or pricing broker. When reliable prices are not readily available, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, but before each Fund calculate its net asset value, the Funds value these securities as determined in accordance with procedures approved by the Funds’ Board of Trustees (the “Board”).  
Pursuant to policies adopted by the Board, the Funds’ manager has been designated as the valuation designee and is responsible for the oversight of the daily valuation process. The Funds’ manager is assisted by the Global Fund Valuation Committee (the “Valuation Committee”). The Valuation Committee is responsible for making fair value determinations, evaluating the effectiveness of the Funds’ pricing policies, and reporting to the Funds’ manager and the Board. When determining the reliability of third party pricing information for investments owned by the Funds, the Valuation Committee, among other things, conducts due diligence reviews of pricing vendors, monitors the daily change in prices and reviews transactions among market participants.
The Valuation Committee will consider pricing methodologies it deems relevant and appropriate when making fair value determinations. Examples of possible methodologies include, but are not limited to, multiple of earnings; discount from market of a similar freely traded security; discounted cash-flow analysis; book value or a multiple thereof; risk premium/yield analysis; yield to maturity; and/or fundamental investment analysis. The Valuation Committee will also consider factors it deems relevant and appropriate in light of the facts and circumstances. Examples of possible factors include, but are not limited to, the type of security; the issuer’s financial statements; the purchase price of the security; the discount from
7
ClearBridge ETFs 2026 Quarterly Report
Notes to Schedules of Investments (unaudited) (cont’d)
market value of unrestricted securities of the same class at the time of purchase; analysts’ research and observations from financial institutions; information regarding any transactions or offers with respect to the security; the existence of merger proposals or tender offers affecting the security; the price and extent of public trading in similar securities of the issuer or comparable companies; and the existence of a shelf registration for restricted securities.
For each portfolio security that has been fair valued pursuant to the policies adopted by the Board, the fair value price is compared against the last available and next available market quotations. The Valuation Committee reviews the results of such back testing monthly and fair valuation occurrences are reported to the Board quarterly.
The Funds use valuation techniques to measure fair value that are consistent with the market approach and/or income approach, depending on the type of security and the particular circumstance. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable securities. The income approach uses valuation techniques to discount estimated future cash flows to present value.
GAAP establishes a disclosure hierarchy that categorizes the inputs to valuation techniques used to value assets and liabilities at measurement date. These inputs are summarized in the three broad levels listed below:
•
Level 1 — unadjusted quoted prices in active markets for identical investments
•
Level 2 — other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Funds’ own assumptions in determining the fair value of investments)
The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.
The following is a summary of the inputs used in valuing the Funds’ assets carried at fair value:
Enhanced Income ETF
 
ASSETS
Description
Quoted Prices
(Level 1)
Other Significant
Observable Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Total
Common Stocks†
 $158,705,847
—
—
 $158,705,847
Short-Term Investments†
3,579,673
—
—
3,579,673
Total Investments
$162,285,520
—
—
$162,285,520
LIABILITIES
Description
Quoted Prices
(Level 1)
Other Significant
Observable Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Total
Other Financial Instruments:
Written Options:
 $193,851
—
—
 $193,851
 
†
See Schedules of Investments for additional detailed categorizations.
Large Cap Growth Select ETF
 
ASSETS
Description
Quoted Prices
(Level 1)
Other Significant
Observable Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Total
Common Stocks†
 $431,638,802
—
—
 $431,638,802
Short-Term Investments†
6,448,613
—
—
6,448,613
Total Investments
$438,087,415
—
—
$438,087,415
 
†
See Schedules of Investments for additional detailed categorizations.
8
ClearBridge ETFs 2026 Quarterly Report