Schedule of Investments (unaudited)
June 30, 2026
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 Franklin Small Cap Enhanced ETF

(Percentages shown based on Fund net assets) 
Security
 
 
 
Shares
Value
Common Stocks — 96.4%
Communication Services — 2.7%
Diversified Telecommunication Services — 1.3%
Bandwidth Inc., Class A Shares
2,536
 $160,529
 *
Globalstar Inc.
1,541
125,268
 *
IDT Corp., Class B Shares
26,257
1,527,107
 
Lumen Technologies Inc.
15,061
115,668
 *
Total Diversified Telecommunication Services
1,928,572
Entertainment — 0.8%
Cinemark Holdings Inc.
5,648
179,211
 
Madison Square Garden Entertainment Corp.
2,712
219,374
 *
Playtika Holding Corp.
214,306
797,218
 
Total Entertainment
1,195,803
Interactive Media & Services — 0.4%
Cargurus Inc.
3,468
118,224
 *
Nextdoor Holdings Inc.
243,834
553,503
 *
Total Interactive Media & Services
671,727
Media — 0.2%
PubMatic Inc., Class A Shares
29,131
382,199
 *
 
Total Communication Services
4,178,301
Consumer Discretionary — 8.6%
Automobile Components — 1.1%
Dana Inc.
4,741
129,002
 
Garrett Motion Inc.
37,455
1,356,995
 
Holley Inc.
42,287
107,832
 *
Strattec Security Corp.
2,013
163,959
 *
Total Automobile Components
1,757,788
Broadline Retail — 0.8%
Kohl’s Corp.
72,701
1,288,262
 
Distributors — 0.1%
GigaCloud Technology Inc., Class A Shares
3,171
100,204
 *
Diversified Consumer Services — 0.8%
Laureate Education Inc.
4,182
151,890
 *
Perdoceo Education Corp.
34,680
1,109,760
 
Total Diversified Consumer Services
1,261,650
Hotels, Restaurants & Leisure — 2.7%
BJ’s Restaurants Inc.
24,474
1,486,428
 *
Cheesecake Factory Inc.
2,675
212,769
 
Monarch Casino & Resort Inc.
9,516
1,252,401
 
Navan Inc., Class A Shares
8,349
190,942
 *
Red Rock Resorts Inc., Class A Shares
2,279
148,272
 
Rush Street Interactive Inc.
22,393
665,968
 *
Super Group SGHC Ltd.
15,545
210,635
 
Total Hotels, Restaurants & Leisure
4,167,415
Household Durables — 1.2%
Hovnanian Enterprises Inc., Class A Shares
1,008
143,549
 *
Leggett & Platt Inc.
14,934
174,877
 
M/I Homes Inc.
5,152
828,390
 *
See Notes to Schedule of Investments.
1
Franklin Small Cap Enhanced ETF 2026 Quarterly Report
Schedule of Investments (unaudited) (cont’d)
June 30, 2026
 Franklin Small Cap Enhanced ETF
(Percentages shown based on Fund net assets)
Security
 
 
 
Shares
Value
 
Household Durables — continued
Meritage Homes Corp.
1,680
 $140,868
 
Sonos Inc.
6,540
88,486
 *
Taylor Morrison Home Corp., Class A Shares
6,441
462,078
 *
Total Household Durables
1,838,248
Leisure Products — 0.1%
Polaris Inc.
1,862
127,435
 
Specialty Retail — 1.3%
Abercrombie & Fitch Co., Class A Shares
1,982
178,400
 *
Academy Sports & Outdoors Inc.
3,000
141,390
 
American Eagle Outfitters Inc.
5,319
91,487
 
Buckle Inc.
27,363
1,154,719
 
Haverty Furniture Cos. Inc.
5,252
134,083
 
RealReal Inc.
8,918
105,143
 *
Urban Outfitters Inc.
1,885
133,571
 *
Total Specialty Retail
1,938,793
Textiles, Apparel & Luxury Goods — 0.5%
Carter’s Inc.
12,881
530,182
 
Movado Group Inc.
5,846
229,806
 
Total Textiles, Apparel & Luxury Goods
759,988
 
Total Consumer Discretionary
13,239,783
Consumer Staples — 1.0%
Personal Care Products — 1.0%
Herbalife Ltd.
82,965
1,090,990
 *
Nature’s Sunshine Products Inc.
22,707
495,012
 *
 
Total Consumer Staples
1,586,002
Energy — 4.9%
Energy Equipment & Services — 2.5%
Helix Energy Solutions Group Inc.
16,944
148,091
 *
Liberty Energy Inc., Class A Shares
23,880
625,417
 
Nabors Industries Ltd.
2,279
191,459
 *
National Energy Services Reunited Corp.
56,616
1,694,517
 *
Oceaneering International Inc.
4,657
188,702
 *
ProPetro Holding Corp.
11,395
163,404
 *
Ranger Energy Services Inc., Class A Shares
8,326
133,299
 
Seadrill Ltd.
2,965
112,136
 *
Select Water Solutions Inc., Class A Shares
7,223
144,316
 
TETRA Technologies Inc.
28,240
319,959
 *
Valaris Ltd.
1,422
103,237
 *
Total Energy Equipment & Services
3,824,537
Oil, Gas & Consumable Fuels — 2.4%
Centrus Energy Corp., Class A Shares
595
99,883
 *
Core Natural Resources Inc.
15,536
1,243,191
 
CVR Energy Inc.
20,261
557,988
 
Gulfport Energy Corp.
8,082
1,371,515
 *
Magnolia Oil & Gas Corp., Class A Shares
5,839
149,361
 
See Notes to Schedule of Investments.
2
Franklin Small Cap Enhanced ETF 2026 Quarterly Report
 Franklin Small Cap Enhanced ETF
(Percentages shown based on Fund net assets)
Security
 
 
 
Shares
Value
 
Oil, Gas & Consumable Fuels — continued
Par Pacific Holdings Inc.
3,140
 $176,091
 *
Total Oil, Gas & Consumable Fuels
3,598,029
 
Total Energy
7,422,566
Financials — 15.2%
Banks — 8.0%
Ameris Bancorp
17,423
1,572,600
 
Axos Financial Inc.
16,268
1,584,340
 *
Banc of California Inc.
6,296
128,627
 
Bancorp Inc.
2,287
143,258
 *
Bank of NT Butterfield & Son Ltd.
2,576
153,272
 
BankUnited Inc.
30,915
1,497,832
 
Bankwell Financial Group Inc.
2,891
169,846
 
Capitol Federal Financial Inc.
178,933
1,522,720
 
CoastalSouth Bancshares Inc.
5,266
141,392
 
Community Trust Bancorp Inc.
2,191
158,541
 
Customers Bancorp Inc.
5,549
438,926
 *
Eagle Bancorp Inc.
5,019
142,489
 
First Merchants Corp.
3,505
153,133
 
Hanmi Financial Corp.
4,459
144,472
 
Independent Bank Corp. (Michigan)
3,874
139,735
 
International Bancshares Corp.
1,864
141,571
 
Metropolitan Bank Holding Corp.
3,502
345,858
 
Northpointe Bancshares Inc.
7,999
153,421
 
Northrim BanCorp Inc.
5,254
145,746
 
OFG Bancorp
3,072
150,743
 
SmartFinancial Inc.
3,399
159,481
 
Texas Capital Bancshares Inc.
1,387
143,222
 
Valley National Bancorp
124,273
1,820,599
 
Westamerica Bancorp
19,090
1,120,010
 
Total Banks
12,271,834
Capital Markets — 2.4%
Acadian Asset Management Inc.
20,609
1,473,956
 
Artisan Partners Asset Management Inc., Class A Shares
26,858
927,407
 
Cohen & Steers Inc.
1,982
150,909
 
Donnelley Financial Solutions Inc.
2,741
114,985
 *
Marex Group PLC
3,283
200,099
 
Miami International Holdings Inc.
3,262
121,216
 *
Moelis & Co., Class A Shares
2,105
137,709
 
Piper Sandler Cos.
1,613
116,684
 
PJT Partners Inc., Class A Shares
873
131,771
 
Virtus Investment Partners Inc.
1,188
170,478
 
Webull Corp.
26,910
175,453
 *
Total Capital Markets
3,720,667
Consumer Finance — 2.5%
Bread Financial Holdings Inc.
15,017
1,627,092
 
Dave Inc.
5,037
1,876,736
 *
Happen Inc.
6,441
133,587
 *
See Notes to Schedule of Investments.
3
Franklin Small Cap Enhanced ETF 2026 Quarterly Report
Schedule of Investments (unaudited) (cont’d)
June 30, 2026
 Franklin Small Cap Enhanced ETF
(Percentages shown based on Fund net assets)
Security
 
 
 
Shares
Value
 
Consumer Finance — continued
PROG Holdings Inc.
4,261
 $198,605
 
Total Consumer Finance
3,836,020
Financial Services — 1.5%
Essent Group Ltd.
3,358
215,852
 
Jackson Financial Inc., Class A Shares
11,701
1,198,065
 
loanDepot Inc., Class A Shares
86,496
108,120
 *
NCR Atleos Corp.
3,075
133,486
 *
NMI Holdings Inc.
3,484
143,158
 *
Pagseguro Digital Ltd., Class A Shares
12,837
116,175
 
Sezzle Inc.
1,754
301,039
 *
Total Financial Services
2,215,895
Insurance — 0.8%
CNO Financial Group Inc.
3,101
158,089
 
HCI Group Inc.
971
170,168
 
Oscar Health Inc., Class A Shares
5,875
167,555
 *
Selective Insurance Group Inc.
3,369
326,826
 
SiriusPoint Ltd.
6,436
154,464
 *
Universal Insurance Holdings Inc.
4,244
175,532
 
Total Insurance
1,152,634
 
Total Financials
23,197,050
Health Care — 16.9%
Biotechnology — 7.9%
ACADIA Pharmaceuticals Inc.
49,144
1,243,343
 *
ADMA Biologics Inc.
10,107
84,596
 *
AnaptysBio Inc.
22,412
1,512,810
 *
Arcutis Biotherapeutics Inc.
6,044
158,474
 *
Ardelyx Inc.
19,663
100,281
 *
Arrowhead Pharmaceuticals Inc.
1,865
152,016
 *
Aurinia Pharmaceuticals Inc.
8,026
136,201
 *
Bridgebio Pharma Inc.
22,242
1,656,584
 *
Corvus Pharmaceuticals Inc.
7,550
112,797
 *
Cytokinetics Inc.
1,982
168,847
 *
Enanta Pharmaceuticals Inc.
10,022
146,121
 *
Greenwich Lifesciences Inc.
5,322
124,854
 *
Ironwood Pharmaceuticals Inc.
196,977
829,273
 *
Kodiak Sciences Inc.
7,332
285,655
 *
Krystal Biotech Inc.
502
186,578
 *
Madrigal Pharmaceuticals Inc.
1,804
968,658
 *
MiMedx Group Inc.
37,189
143,178
 *
Myriad Genetics Inc.
21,741
124,141
 *
Protagonist Therapeutics Inc.
1,387
170,018
 *
PTC Therapeutics Inc.
1,843
150,334
 *
REGENXBIO Inc.
18,232
218,419
 *
Rhythm Pharmaceuticals Inc.
14,245
1,581,622
 *
Rigel Pharmaceuticals Inc.
3,666
143,414
 *
Stoke Therapeutics Inc.
4,063
132,941
 *
Xenon Pharmaceuticals Inc.
23,466
1,416,408
 *
See Notes to Schedule of Investments.
4
Franklin Small Cap Enhanced ETF 2026 Quarterly Report
 Franklin Small Cap Enhanced ETF
(Percentages shown based on Fund net assets)
Security
 
 
 
Shares
Value
 
Biotechnology — continued
Zymeworks Inc.
4,657
 $121,734
 *
Total Biotechnology
12,069,297
Health Care Equipment & Supplies — 1.2%
Axogen Inc.
3,779
174,552
 *
Cerus Corp.
58,526
170,896
 *
Haemonetics Corp.
1,777
133,275
 *
iRhythm Holdings Inc.
6,143
730,710
 *
LivaNova PLC
1,770
145,547
 *
Merit Medical Systems Inc.
1,622
112,469
 *
Novocure Ltd.
19,322
292,728
 *
Varex Imaging Corp.
14,178
147,877
 *
Total Health Care Equipment & Supplies
1,908,054
Health Care Providers & Services — 3.8%
agilon health Inc.
1,676
179,634
 *
Alignment Healthcare Inc.
8,540
203,337
 *
Aveanna Healthcare Holdings Inc.
17,741
152,040
 *
GeneDx Holdings Corp.
34,315
2,355,725
 *
Guardant Health Inc.
15,919
2,388,327
 *
HealthEquity Inc.
1,387
125,274
 *
LifeStance Health Group Inc.
17,901
191,720
 *
Progyny Inc.
7,630
219,973
 *
Total Health Care Providers & Services
5,816,030
Life Sciences Tools & Services — 1.9%
10X Genomics Inc., Class A Shares
66,555
2,551,719
 *
Adaptive Biotechnologies Corp.
7,388
158,472
 *
Cytek Biosciences Inc.
30,521
135,208
 *
Fortrea Holdings Inc.
8,224
143,098
 *
Total Life Sciences Tools & Services
2,988,497
Pharmaceuticals — 2.1%
Amneal Pharmaceuticals Inc.
9,959
172,390
 *
Arvinas Inc.
10,655
88,543
 *
Avadel Pharmaceuticals PLC
34,399
22,016
 *(a)(b)
Axsome Therapeutics Inc.
6,280
1,537,156
 *
Esperion Therapeutics Inc.
33,293
105,206
 *
Fulcrum Therapeutics Inc.
11,294
41,336
 *
Indivior Pharmaceuticals Inc.
21,204
870,000
 *
Maze Therapeutics Inc.
2,973
88,714
 *
Tarsus Pharmaceuticals Inc.
1,783
112,222
 *
Theravance Biopharma Inc.
6,738
114,546
 *
Total Pharmaceuticals
3,152,129
 
Total Health Care
25,934,007
Industrials — 18.7%
Aerospace & Defense — 1.9%
Astronics Corp.
17,851
1,450,572
 *
Astronics Corp., Class B Shares
2,922
222,072
 *
Kratos Defense & Security Solutions Inc.
16,787
837,000
 *
Moog Inc., Class A Shares
460
194,966
 
See Notes to Schedule of Investments.
5
Franklin Small Cap Enhanced ETF 2026 Quarterly Report
Schedule of Investments (unaudited) (cont’d)
June 30, 2026
 Franklin Small Cap Enhanced ETF
(Percentages shown based on Fund net assets)
Security
 
 
 
Shares
Value
 
Aerospace & Defense — continued
V2X Inc.
1,959
 $146,063
 *
Total Aerospace & Defense
2,850,673
Building Products — 1.4%
Modine Manufacturing Co.
416
111,080
 *
Resideo Technologies Inc.
20,657
642,433
 *
UFP Industries Inc.
14,640
1,328,434
 
Total Building Products
2,081,947
Commercial Services & Supplies — 0.5%
Cimpress PLC
1,798
182,857
 *
CoreCivic Inc.
6,738
204,701
 *
Interface Inc.
4,261
152,714
 
Quad/Graphics Inc.
18,994
160,119
 
Total Commercial Services & Supplies
700,391
Construction & Engineering — 3.2%
Dycom Industries Inc.
297
150,160
 *
IES Holdings Inc.
1,922
1,412,017
 *
Legence Corp., Class A Shares
18,350
1,563,971
 *
NWPX Infrastructure Inc.
1,893
283,836
 *
Orion Group Holdings Inc.
9,106
153,163
 *
Primoris Services Corp.
8,236
816,352
 
Tutor Perini Corp.
6,725
557,973
 
Total Construction & Engineering
4,937,472
Electrical Equipment — 4.5%
Atkore Inc.
1,985
150,939
 
Bloom Energy Corp., Class A Shares
11,448
3,465,310
 *
EnerSys
788
184,250
 
Fluence Energy Inc.
5,252
104,410
 *
Hyliion Holdings Corp.
58,874
306,734
 *
Power Solutions International Inc.
12,635
491,375
 *
Preformed Line Products Co.
505
207,333
 
Shoals Technologies Group Inc., Class A Shares
12,995
128,650
 *
Vicor Corp.
4,885
1,855,225
 *
Total Electrical Equipment
6,894,226
Ground Transportation — 0.2%
Covenant Logistics Group Inc.
4,495
198,589
 
Werner Enterprises Inc.
3,831
167,070
 
Total Ground Transportation
365,659
Machinery — 2.6%
Astec Industries Inc.
4,624
282,943
 
Atmus Filtration Technologies Inc.
26,067
1,329,156
 
Hyster-Yale Inc.
3,400
119,204
 
Kennametal Inc.
4,459
156,288
 
Manitowoc Co. Inc.
9,368
130,121
 *
Mueller Water Products Inc., Class A Shares
5,370
138,707
 
Proto Labs Inc.
19,803
1,614,143
 *
Wabash National Corp.
16,944
228,744
 
Total Machinery
3,999,306
See Notes to Schedule of Investments.
6
Franklin Small Cap Enhanced ETF 2026 Quarterly Report
 Franklin Small Cap Enhanced ETF
(Percentages shown based on Fund net assets)
Security
 
 
 
Shares
Value
 
Passenger Airlines — 1.6%
Allegiant Travel Co.
6,734
 $791,919
 *
SkyWest Inc.
17,040
1,692,583
 *
Total Passenger Airlines
2,484,502
Professional Services — 1.8%
Exponent Inc.
19,025
1,117,909
 
IBEX Holdings Ltd.
4,477
135,967
 *
Kforce Inc.
4,162
195,281
 
Korn Ferry
19,133
1,273,875
 
Total Professional Services
2,723,032
Trading Companies & Distributors — 1.0%
Boise Cascade Co.
16,809
1,304,883
 
Rush Enterprises Inc., Class B Shares
3,369
257,728
 
Total Trading Companies & Distributors
1,562,611
 
Total Industrials
28,599,819
Information Technology — 16.8%
Communications Equipment — 0.5%
Applied Optoelectronics Inc.
596
88,303
 *
BK Technologies Corp.
1,593
136,966
 *
Harmonic Inc.
10,923
178,373
 *
NETGEAR Inc.
4,657
108,741
 *
NetScout Systems Inc.
4,687
204,119
 *
Ribbon Communications Inc.
42,904
100,395
 *
Total Communications Equipment
816,897
Electronic Equipment, Instruments & Components — 4.2%
Advanced Energy Industries Inc.
417
155,487
 
Bel Fuse Inc., Class A Shares
611
177,942
 
Daktronics Inc.
5,980
116,969
 *
Fabrinet
243
136,586
 *
Insight Enterprises Inc.
1,556
189,521
 *
Itron Inc.
1,298
112,316
 *
nLight Inc.
19,860
1,382,653
 *
Plexus Corp.
4,515
1,357,525
 *
Sanmina Corp.
1,814
459,087
 *
TTM Technologies Inc.
1,064
198,989
 *
Vishay Intertechnology Inc.
40,230
2,163,569
 
Total Electronic Equipment, Instruments & Components
6,450,644
IT Services — 0.8%
Applied Digital Corp.
3,435
128,126
 *
DigitalOcean Holdings Inc.
7,149
1,122,607
 *
Total IT Services
1,250,733
Semiconductors & Semiconductor Equipment — 6.3%
ACM Research Inc., Class A Shares
2,016
255,810
 *
Alpha & Omega Semiconductor Ltd.
5,839
276,360
 *
Axcelis Technologies Inc.
869
164,632
 *
Credo Technology Group Holding Ltd.
7,055
1,918,607
 *
FormFactor Inc.
11,430
1,828,000
 *
Ichor Holdings Ltd.
8,949
1,004,794
 *
See Notes to Schedule of Investments.
7
Franklin Small Cap Enhanced ETF 2026 Quarterly Report
Schedule of Investments (unaudited) (cont’d)
June 30, 2026
 Franklin Small Cap Enhanced ETF
(Percentages shown based on Fund net assets)
Security
 
 
 
Shares
Value
 
Semiconductors & Semiconductor Equipment — continued
Kulicke & Soffa Industries Inc.
15,336
 $2,051,343
 
MaxLinear Inc.
1,483
189,869
 *
Photronics Inc.
2,669
86,823
 *
Silicon Laboratories Inc.
658
143,812
 *
SiTime Corp.
2,202
1,641,723
 *
Total Semiconductors & Semiconductor Equipment
9,561,773
Software — 4.2%
8x8 Inc.
181,397
310,189
 *
A10 Networks Inc.
7,035
262,828
 
Appian Corp., Class A Shares
15,358
351,698
 *
Arteris Inc.
7,134
346,641
 *
Blackbaud Inc.
3,765
111,519
 *
Box Inc., Class A Shares
60,755
1,612,438
 *
Clear Secure Inc., Class A Shares
26,932
1,500,920
 
Commvault Systems Inc.
1,090
154,486
 *
InterDigital Inc.
396
112,119
 
PagerDuty Inc.
48,570
468,701
 *
Qualys Inc.
7,035
967,242
 *
Telos Corp.
22,790
104,834
 *
Workiva Inc.
2,891
140,242
 *
Total Software
6,443,857
Technology Hardware, Storage & Peripherals — 0.8%
Diebold Nixdorf Inc.
12,042
1,023,811
 *
Eastman Kodak Co.
14,169
131,063
 *
Total Technology Hardware, Storage & Peripherals
1,154,874
 
Total Information Technology
25,678,778
Materials — 4.9%
Chemicals — 2.4%
Aspen Aerogels Inc.
35,077
222,388
 *
Avient Corp.
40,320
1,490,227
 
Cabot Corp.
1,982
180,006
 
Innospec Inc.
3,831
311,805
 
LSB Industries Inc.
9,466
102,328
 *
Orion SA
140,421
930,991
 
Stepan Co.
7,796
434,393
 
Total Chemicals
3,672,138
Containers & Packaging — 0.0%††
O-I Glass Inc.
8,307
79,996
 *
Metals & Mining — 2.5%
Century Aluminum Co.
19,041
876,077
 *
Commercial Metals Co.
15,113
948,341
 
Constellium SE
42,166
1,343,831
 *
Critical Metals Corp.
11,893
121,903
 *
Hecla Mining Co.
5,438
83,908
 
Kaiser Aluminum Corp.
2,180
426,473
 
Total Metals & Mining
3,800,533
 
Total Materials
7,552,667
See Notes to Schedule of Investments.
8
Franklin Small Cap Enhanced ETF 2026 Quarterly Report
 Franklin Small Cap Enhanced ETF
(Percentages shown based on Fund net assets)
Security
 
 
 
Shares
Value
 
Real Estate — 5.0%
Health Care REITs — 0.2%
CareTrust REIT Inc.
3,369
 $135,939
 
National Health Investors Inc.
1,491
113,704
 
Total Health Care REITs
249,643
Hotel & Resort REITs — 1.7%
Chatham Lodging Trust
19,124
253,011
 
DiamondRock Hospitality Co.
40,919
498,393
 
Pebblebrook Hotel Trust
11,494
223,099
 
Sunstone Hotel Investors Inc.
129,681
1,484,847
 
Xenia Hotels & Resorts Inc.
8,825
179,677
 
Total Hotel & Resort REITs
2,639,027
Industrial REITs — 0.7%
LXP Industrial Trust
20,015
1,078,408
 
Office REITs — 0.1%
COPT Defense Properties
4,261
155,058
 
Real Estate Management & Development — 1.4%
AGNT Inc.
17,751
96,033
 
Cushman & Wakefield Ltd.
11,001
147,303
 *
Marcus & Millichap Inc.
4,833
150,645
 
Newmark Group Inc., Class A Shares
73,201
1,106,067
 
Real Brokerage Inc.
49,809
90,652
 *
St Joe Co.
9,407
589,161
 
Total Real Estate Management & Development
2,179,861
Retail REITs — 0.5%
Alexander’s Inc.
568
156,518
 
CBL & Associates Properties Inc.
3,542
188,045
 
Phillips Edison & Co. Inc.
3,734
155,409
 
SITE Centers Corp.
19,988
79,352
 
Tanger Inc.
3,783
149,315
 
Total Retail REITs
728,639
Specialized REITs — 0.4%
Outfront Media Inc.
20,103
658,574
 
 
Total Real Estate
7,689,210
Utilities — 1.7%
Electric Utilities — 0.1%
Portland General Electric Co.
2,576
133,514
 
Gas Utilities — 0.2%
ONE Gas Inc.
2,343
180,575
 
Southwest Gas Holdings Inc.
1,585
140,558
 
Total Gas Utilities
321,133
Independent Power and Renewable Electricity Producers — 0.3%
Hallador Energy Co.
24,372
423,829
 *
Multi-Utilities — 0.1%
Avista Corp.
3,274
133,939
 
Water Utilities — 1.0%
American States Water Co.
17,142
1,416,444
 
See Notes to Schedule of Investments.
9
Franklin Small Cap Enhanced ETF 2026 Quarterly Report
Schedule of Investments (unaudited) (cont’d)
June 30, 2026
 Franklin Small Cap Enhanced ETF
(Percentages shown based on Fund net assets)
Security
 
 
 
Shares
Value
 
Water Utilities — continued
Consolidated Water Co. Ltd.
4,726
 $139,417
 
Total Water Utilities
1,555,861
 
Total Utilities
2,568,276
Total Investments before Short-Term Investments (Cost — $135,169,770)
147,646,459
 
 
Rate
 
 
 
Short-Term Investments — 0.3%
Franklin Institutional U.S. Government Money Market Fund, Class A Shares
(Cost — $460,171)  
3.545%
460,171
 
460,171
 (c)(d)
Total Investments — 96.7% (Cost — $135,629,941)
148,106,630
Other Assets in Excess of Liabilities — 3.3%
5,024,167
Total Net Assets — 100.0%
$153,130,797
 
††
Represents less than 0.1%.
*
Non-income producing security.
(a)
Security is fair valued in accordance with procedures approved by the Board of Trustees (Note 1).
(b)
Security is valued using significant unobservable inputs (Note 1).
(c)
Rate shown is one-day yield as of the end of the reporting period.
(d)
In this instance, as defined in the Investment Company Act of 1940, as amended (the “1940 Act”), an “Affiliated Company” represents Fund ownership of at
least 5% of the outstanding voting securities of an issuer, or a company which is under common ownership or control with the Fund. At June 30, 2026, the
total market value of investments in Affiliated Companies was $460,171 and the cost was $460,171 (Note 2).
 
Abbreviation(s) used in this schedule:
REIT
—
Real Estate Investment Trust
At June 30, 2026, the Fund had the following open futures contracts:  
 
 
 
Number of
Contracts
 
Expiration
Date
 
Notional
Amount
 
Market
Value
 
Unrealized
Appreciation
Contracts to Buy:
E-mini Russell 2000 Index
33
9/26
 $5,007,641
 $5,025,240
 $17,599
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 Schedule of Investments.
10
Franklin Small Cap Enhanced ETF 2026 Quarterly Report
Notes to Schedule of Investments (unaudited)
1. Organization and significant accounting policies
Franklin Small Cap Enhanced ETF (the “Fund”) is a separate diversified investment series of Franklin Templeton ETF Trust (the “Trust”). The Trust, a Delaware statutory trust, is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company.
The Fund is an actively managed exchange-traded fund (“ETF”). 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 Fund may be directly purchased from and redeemed by the Fund at NAV solely by certain large institutional investors who have entered into agreements with the Fund’s distributor (“Authorized Participants”). Also unlike shares of a mutual fund, shares of the Fund are listed on a national securities exchange and trade in the secondary market at market prices that change throughout the day.
Shares of the Fund are listed and traded at market prices on NYSE Arca, Inc. The market price for the Fund’s shares may be different from the Fund’s NAV. The Fund issues and redeems 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 Fund 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 Fund are not redeemable securities. Shareholders who are not Authorized Participants may not redeem shares directly from the Fund at NAV.
The Fund follows 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 Fund 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. Futures contracts are valued daily at the settlement price established by the board of trade or exchange on which they are traded. When the Fund holds securities or other assets that are denominated in a foreign currency, the Fund will use the currency exchange rates, generally determined as of 4:00 p.m. (Eastern 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 the Fund calculates its net asset value, the Fund values these securities as determined in accordance with procedures approved by the Fund’s Board of Trustees (the “Board”).  
Pursuant to policies adopted by the Board, the Fund’s manager has been designated as the valuation designee and is responsible for the oversight of the daily valuation process. The Fund’s 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 Fund’s pricing policies, and reporting to the Fund’s manager and the Board. When determining the reliability of third party pricing information for investments owned by the Fund, 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 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
11
Franklin Small Cap Enhanced ETF 2026 Quarterly Report
Notes to Schedule of Investments (unaudited) (cont’d)
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 Fund uses 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 Fund’s 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 Fund’s assets carried at fair value:
 
ASSETS
Description
Quoted Prices
(Level 1)
Other Significant
Observable Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Total
Long-Term Investments†:
Common Stocks:
Health Care
 $25,911,991
—
 $22,016
 $25,934,007
Other Common Stocks
121,712,452
—
—
121,712,452
Total Long-Term Investments
147,624,443
—
22,016
147,646,459
Short-Term Investments†
460,171
—
—
460,171
Total Investments
$148,084,614
—
$22,016
$148,106,630
Other Financial Instruments:
Futures Contracts††
 $17,599
—
—
 $17,599
Total
$148,102,213
—
$22,016
$148,124,229
 
†
See Schedule of Investments for additional detailed categorizations.
††
Reflects the unrealized appreciation (depreciation) of the instruments.
2. Transactions with affiliated company
As defined by the 1940 Act, an affiliated company is one in which the Fund owns 5% or more of the outstanding voting securities, or a company which is under common ownership or control with the Fund. The following Underlying Funds were considered affiliated companies for all or some portion of the period ended June 30, 2026. The following transactions were effected in such Underlying Funds for the period ended June 30, 2026.
 
 
Affiliate
Value at

March 31,
2026
Purchased
Sold
Cost
Shares
Proceeds
Shares
Franklin Institutional U.S.
Government Money
Market Fund, Class A
Shares
 $946,010
 $14,558,520
14,558,520
 $15,044,359
15,044,359
12
Franklin Small Cap Enhanced ETF 2026 Quarterly Report

 
(cont’d)
Realized
Gain (Loss)
Dividend
Income
Net Increase
(Decrease) in
Unrealized
Appreciation
(Depreciation)
Affiliate
Value at
June 30,
2026
Franklin Institutional U.S.
Government Money Market
Fund, Class A Shares
—
 $11,656
—
 $460,171
13
Franklin Small Cap Enhanced ETF 2026 Quarterly Report