# EDGAR Filing Document

**Accession Number:** 0001655589
**File Stem:** 0001752724-25-205705
**Filing Date:** 2025-8
**Character Count:** 2756525
**Document Hash:** 15f22435340b452c15ca535a4d250768
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-205705.hdr.sgml**: 20250826

**ACCESSION NUMBER**: 0001752724-25-205705

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250826

**DATE AS OF CHANGE**: 20250826

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Franklin Templeton ETF Trust
- **CENTRAL INDEX KEY:** 0001655589

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** FL
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23124
- **FILM NUMBER:** 251256696

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

**MAIL ADDRESS:**
- **STREET 1:** ONE FRANKLIN PARKWAY
- **CITY:** SAN MATEO
- **STATE:** CA
- **ZIP:** 94403

## Series and Classes Contracts Data

### Franklin FTSE Japan Hedged ETF (Series ID: S000059496)

| Class ID   | Class Name                     | Ticker Symbol   |
|:---|:---|:---|
| C000194930 | Franklin FTSE Japan Hedged ETF | FLJH            |

## Nport-Ex

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **BrandywineGLOBAL - Dynamic US Large Cap Value ETF** | &nbsp;&nbsp;**Country** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
|  | **Common Stocks 98.9%** |  |  |  |
|  | **Aerospace & Defense 4.2%** |  |  |  |
|  | Lockheed Martin Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10463 | &nbsp;&nbsp;$4845834 |
|  | **Air Freight & Logistics 2.0%** |  |  |  |
|  | FedEx Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1066539 |
|  | United Parcel Service, Inc., Class B | &nbsp;&nbsp;United States | &nbsp;&nbsp; 12780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1290013 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2356552 |
|  | **Automobile Components 0.2%** |  |  |  |
| <sup>a</sup> | Aptiv PLC | &nbsp;&nbsp;Jersey | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256780 |
|  | **Automobiles 3.0%** |  |  |  |
|  | General Motors Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3455182 |
|  | **Banks 3.0%** |  |  |  |
|  | Columbia Banking System, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2877 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67264 |
|  | Fifth Third Bancorp | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;459916 |
|  | First Horizon Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159763 |
|  | JPMorgan Chase & Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247293 |
|  | Regions Financial Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358798 |
|  | Wells Fargo & Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2185193 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3478227 |
|  | **Beverages 2.8%** |  |  |  |
|  | Coca-Cola Consolidated, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;439789 |
|  | PepsiCo, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2841501 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3281290 |
|  | **Biotechnology 0.6%** |  |  |  |
|  | Amgen, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;730972 |
|  | **Broadline Retail 1.7%** |  |  |  |
|  | eBay, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1910048 |
|  | **Building Products 1.2%** |  |  |  |
|  | A.O. Smith Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297229 |
|  | Carlisle Cos., Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1033571 |
|  | Fortune Brands Innovations, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;661 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34028 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1364828 |
|  | **Capital Markets 1.1%** |  |  |  |
|  | Affiliated Managers Group, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;487202 |
|  | Northern Trust Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340431 |
|  | SEI Investments Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290877 |
|  | XP, Inc., Class A | &nbsp;&nbsp;Brazil | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126715 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1245225 |
|  | **Chemicals 2.6%** |  |  |  |
|  | Air Products & Chemicals, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;865642 |
|  | CF Industries Holdings, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1062600 |
|  | Eastman Chemical Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390248 |
|  | PPG Industries, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;671694 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2990184 |
|  | **Computers & Peripherals 0.5%** |  |  |  |
|  | NetApp, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;595295 |
|  | **Construction & Engineering 0.3%** |  |  |  |
|  | AECOM | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228429 |
| <sup>a</sup> | Fluor Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154374 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382803 |
|  | **Construction Materials 0.6%** |  |  |  |
|  | Martin Marietta Materials, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;716393 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Consumer Finance 0.4%** |  |  |  |
|  | SLM Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3095 | &nbsp;&nbsp; 101485 |
|  | Synchrony Financial | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5612 | &nbsp;&nbsp; 374545 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476030 |
|  | **Consumer Staples Distribution & Retail 4.2%** |  |  |  |
|  | Kroger Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 18902 | &nbsp;&nbsp; 1355841 |
|  | Sysco Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 21662 | &nbsp;&nbsp; 1640680 |
|  | Walmart, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 18735 | &nbsp;&nbsp; 1831908 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4828429 |
|  | **Containers & Packaging 0.8%** |  |  |  |
|  | Amcor PLC | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;728353 |
|  | Graphic Packaging Holding Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7452 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157014 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;885367 |
|  | **Diversified Consumer Services 0.4%** |  |  |  |
|  | ADT, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252262 |
|  | Service Corp. International | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170859 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;423121 |
|  | **Diversified Telecommunication Services 2.1%** |  |  |  |
|  | Verizon Communications, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2454404 |
|  | **Electric Utilities 1.7%** |  |  |  |
|  | Edison International | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;274925 |
|  | NRG Energy, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1649317 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1924242 |
|  | **Electronic Equipment, Instruments & Components 2.6%** |  |  |  |
| <sup>a</sup> | Flex Ltd. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;949428 |
|  | Jabil, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1731060 |
| <sup>a</sup> | Trimble, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;266918 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2947406 |
|  | **Energy Equipment & Services 0.6%** |  |  |  |
|  | Schlumberger NV | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;637468 |
|  | **Entertainment 0.6%** |  |  |  |
|  | Walt Disney Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;651300 |
|  | **Financial Services 3.9%** |  |  |  |
|  | Enact Holdings, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94472 |
|  | MGIC Investment Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;587925 |
| <sup>a</sup> | PayPal Holdings, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50877 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3781179 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4463576 |
|  | **Food Products 2.1%** |  |  |  |
|  | Bunge Global SA | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31550 |
|  | General Mills, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1569066 |
|  | Ingredion, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;407267 |
|  | Mondelez International, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283181 |
|  | Pilgrim's Pride Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156890 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2447954 |
|  | **Ground Transportation 1.1%** |  |  |  |
|  | CSX Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;503513 |
|  | Ryder System, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51834 |
|  | Union Pacific Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;758114 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1313461 |
|  | **Health Care Providers & Services 0.3%** |  |  |  |
|  | Universal Health Services, Inc., Class B | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290927 |
|  | **Hotels, Restaurants & Leisure 2.4%** |  |  |  |
|  | Boyd Gaming Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345464 |
|  | Hyatt Hotels Corp., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;289634 |
|  | Las Vegas Sands Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18509 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;805326 |
| <sup>a</sup> | MGM Resorts International | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23443 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;806205 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Vail Resorts, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 510 | &nbsp;&nbsp; 80136 |
|  | Wyndham Hotels & Resorts, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5922 | &nbsp;&nbsp; 480926 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2807691 |
|  | **Household Durables 4.1%** |  |  |  |
|  | DR Horton, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 8598 | &nbsp;&nbsp; 1108454 |
|  | Lennar Corp., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp; 6524 | &nbsp;&nbsp; 721620 |
| <sup>a</sup> | NVR, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 142 | &nbsp;&nbsp; 1048764 |
|  | PulteGroup, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10137 | &nbsp;&nbsp; 1069048 |
|  | Toll Brothers, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4617 | &nbsp;&nbsp; 526938 |
| <sup>a</sup> | TopBuild Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303344 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4778168 |
|  | **Household Products 1.8%** |  |  |  |
|  | Colgate-Palmolive Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212888 |
|  | Kimberly-Clark Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;795694 |
|  | Procter & Gamble Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1027296 |
|  | Reynolds Consumer Products, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74884 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2110762 |
|  | **Independent Power Producers & Energy Traders 0.3%** |  |  |  |
| <sup>a</sup> | Talen Energy Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;357356 |
|  | **Industrial Conglomerates 6.3%** |  |  |  |
|  | 3M Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3120768 |
|  | Honeywell International, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4133154 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7253922 |
|  | **Insurance 4.7%** |  |  |  |
|  | Aflac, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;964115 |
|  | American Financial Group, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278672 |
|  | Globe Life, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;266105 |
|  | Hartford Insurance Group, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;672792 |
|  | MetLife, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2027951 |
|  | Old Republic International Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;771298 |
|  | Primerica, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418989 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5399922 |
|  | **IT Services 5.4%** |  |  |  |
|  | International Business Machines Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6173577 |
|  | **Leisure Products 0.1%** |  |  |  |
| <sup>a</sup> | Mattel, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166082 |
|  | **Machinery 9.9%** |  |  |  |
|  | Caterpillar, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5081281 |
|  | CNH Industrial NV | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;461324 |
|  | Cummins, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476512 |
|  | Deere & Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5320331 |
|  | Snap-on, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88375 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;11427823 |
|  | **Media 5.0%** |  |  |  |
|  | Comcast Corp., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;135977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4853019 |
|  | Interpublic Group of Cos., Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;669724 |
|  | Nexstar Media Group, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192320 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5715063 |
|  | **Metals & Mining 0.2%** |  |  |  |
|  | Steel Dynamics, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280470 |
|  | **Oil, Gas & Consumable Fuels 4.3%** |  |  |  |
|  | Antero Midstream Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23786 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450745 |
|  | EOG Resources, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19747 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2361939 |
|  | Targa Resources Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371312 |
|  | Williams Cos., Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28746 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1805536 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4989532 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Pharmaceuticals 2.6%** |  |  |  |
|  | Bristol-Myers Squibb Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 13742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 636117 |
|  | Johnson & Johnson | &nbsp;&nbsp;United States | &nbsp;&nbsp; 11559 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1765637 |
|  | Merck & Co., Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 331681 |
|  | Royalty Pharma PLC, Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp; 6240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 224827 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2958262 |
|  | **Professional Services 0.5%** |  |  |  |
|  | Leidos Holdings, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 434156 |
|  | Robert Half, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 165842 |
|  | Science Applications International Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28265 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;628263 |
|  | **Specialty Retail 1.7%** |  |  |  |
| <sup>a</sup> | AutoNation, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;860552 |
|  | Best Buy Co., Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;647334 |
|  | Murphy USA, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;404766 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1912652 |
|  | **Textiles, Apparel & Luxury Goods 0.9%** |  |  |  |
|  | Ralph Lauren Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;541428 |
|  | Tapestry, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;512635 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1054063 |
|  | **Trading Companies & Distributors 0.4%** |  |  |  |
| <sup>a</sup> | Core & Main, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;374532 |
|  | WESCO International, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71302 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445834 |
|  | **Wireless Telecommunication Services 3.7%** |  |  |  |
|  | T-Mobile U.S., Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4324181 |
|  | **Total Common Stocks (Cost $103,398,043)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114136921 |
|  | **Total Investments before Short-Term Investments<br> (Cost $103,398,043)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114136921 |
|  | **Short-Term Investments 1.1%** |  |  |  |
|  | **Money Market Funds 1.1%** |  |  |  |
| <sup>b</sup> | State Street Institutional U.S. Government Money Market Fund, 4.27% | &nbsp;&nbsp;United States | &nbsp;&nbsp;1232276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1232276 |
|  | **Total Short-Term Investments (Cost $1,232,276)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1232276 |
|  | **Total Investments (Cost $104,630,319) 100.0%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115369197 |
|  | **Other Assets, less Liabilities 0.0%<sup>†</sup>** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42584 |
|  | **Net Assets 100.0%** |  |  | &nbsp;&nbsp;$115411781 |

---

---

| |
|:---|
| <sup>†</sup>Rounds to less than 0.1% of net assets. |
| <sup>a</sup>Non-income producing. |
| <sup>b</sup>The rate shown is the annualized seven-day effective yield at period end. |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **BrandywineGLOBAL - U.S. Fixed Income ETF** | &nbsp;&nbsp;**Country** | &nbsp;&nbsp;**Principal Amount\*** | &nbsp;&nbsp;**Value** |
| **Corporate Bonds & Notes 8.4%** |  |  |  |
| **Aerospace & Defense 0.6%** |  |  |  |
| Boeing Co., |  |  |  |
| 5.15%, 5/01/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 30000 | &nbsp;&nbsp;$30557 |
| 3.20%, 3/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38087 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68644 |
| **Agriculture 0.1%** |  |  |  |
| BAT Capital Corp., 3.462%, 9/06/29 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19248 |
| **Banks 3.7%** |  |  |  |
| Citigroup, Inc., Series W, 4.00% to 12/10/25, FRN thereafter, 12/31/99 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149318 |
| Citizens Financial Group, Inc., 5.841% to 1/23/29, FRN thereafter, 1/23/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31079 |
| Truist Financial Corp., Series P, 4.95% to 9/01/25, FRN thereafter, 12/31/99 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100057 |
| U.S. Bancorp, Series J, 5.30% to 4/15/27, FRN thereafter, 12/31/99 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50096 |
| Wells Fargo & Co., Series BB, 3.90% to 3/15/26, FRN thereafter, 12/31/99 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123797 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;454347 |
| **Financial Services 2.5%** |  |  |  |
| American Express Co., Series D, 3.55% to 9/15/26, FRN thereafter, 12/31/99 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14687 |
| ARES Capital Corp., |  |  |  |
| 2.875%, 6/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37705 |
| 7.00%, 1/15/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10321 |
| Blue Owl Capital Corp., 2.875%, 6/11/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37275 |
| Charles Schwab Corp., Series I, 4.00% to 6/01/26, FRN thereafter, 12/31/99 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;103000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101582 |
| Golub Capital BDC, Inc., 2.50%, 8/24/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107076 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;308646 |
| **Insurance 0.2%** |  |  |  |
| MetLife, Inc., Series G, 3.85% to 9/15/25, FRN thereafter, 12/31/99 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24934 |
| **Media 0.5%** |  |  |  |
| Charter Communications Operating LLC/Charter Communications Operating Capital, |  |  |  |
| 4.20%, 3/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19829 |
| 6.10%, 6/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41889 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61718 |
| **Oil & Gas 0.8%** |  |  |  |
| Devon Energy Corp., 7.875%, 9/30/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34558 |
| Occidental Petroleum Corp., |  |  |  |
| 6.625%, 9/01/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42322 |
| 5.20%, 8/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20079 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96959 |
| **Total Corporate Bonds & Notes (Cost $1,023,532)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1034496 |
| **U.S. Government & Agency Securities 85.8%** |  |  |  |
| Government National Mortgage Association, |  |  |  |
| 6.00%, 10/20/53 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 402061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 410362 |
| 6.00%, 11/20/53 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 271403 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 276944 |
| 6.00%, 12/20/53 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 384106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 391948 |
| 6.00%, 4/20/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 108113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 110105 |
| 6.00%, 5/20/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 328927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 334994 |
| 6.00%, 6/20/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 75171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 76536 |
| 6.00%, 7/20/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 451509 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 459361 |
| 6.00%, 8/20/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 427683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 434832 |
| 6.00%, 9/20/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 453579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 460878 |
| 6.00%, 10/20/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 113608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 115428 |
| 6.00%, 11/20/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 260566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 264663 |
| 6.00%, 12/20/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 107880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 109573 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | 6.00%, 1/20/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 452233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 459332 |
|  | 6.00%, 2/20/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 335444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 340720 |
|  | U.S. Treasury Floating Rate Notes, |  |  |  |
|  | <sup>a</sup> 3 mo. Treasury money market yield + 0.10%, 4.379%, 1/31/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 120000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 119953 |
|  | <sup>a</sup> 3 mo. Treasury money market yield + 0.15%, 4.431%, 4/30/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 440000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 440276 |
|  | <sup>a</sup> 3 mo. Treasury money market yield + 0.16%, 4.441%, 4/30/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;1800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1800194 |
|  | <sup>a</sup> 3 mo. Treasury money market yield + 0.21%, 4.486%, 10/31/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp;1360000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1361725 |
| <sup>b</sup> | U.S. Treasury Inflation-Indexed Bonds, 2.375%, 2/15/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp;1240154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1200044 |
|  | U.S. Treasury Notes, 3.875%, 8/15/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp;1400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1367352 |
|  | **Total U.S. Government & Agency Securities (Cost $10,458,091)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10535220 |
|  | **Total Investments before Short-Term Investments (Cost $11,481,623)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11569716 |
|  |  |  | &nbsp;&nbsp;**Shares** |  |
|  | **Short-Term Investments 2.8%** |  |  |  |
|  | **Money Market Funds 2.8%** |  |  |  |
| <sup>c</sup> | State Street Institutional U.S. Government Money Market Fund, 4.27% | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;346664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346664 |
|  | **Total Short-Term Investments (Cost $346,664)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346664 |
|  | **Total Investments (Cost $11,828,287) 97.0%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11916380 |
|  | **Other Assets, less Liabilities 3.0%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367990 |
|  | **Net Assets 100.0%** |  |  | &nbsp;&nbsp;$12284370 |

---

---

| |
|:---|
| \*The principal amount is stated in U.S. dollars unless otherwise indicated. |
| <sup>a</sup>Variable rate security. The rate shown represents the yield at period end. |
| <sup>b</sup>Principal amount of security, redemption price at maturity, and/or coupon payments are adjusted for inflation. |
| <sup>c</sup>The rate shown is the annualized seven-day effective yield at period end. |

---

At June 30, 2025, the Fund had the following futures contracts outstanding.

#### Futures Contracts

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Type** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Notional<br> Amount\*** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value/Unrealized<br> Appreciation<br> (Depreciation)** |
| **Interest rate contracts** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury 5 Yr. Note | &nbsp;&nbsp;Long | &nbsp;&nbsp;28 | &nbsp;&nbsp;$3052000 | &nbsp;&nbsp;9/30/25 | &nbsp;&nbsp;$32435 |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Bond Ultra | &nbsp;&nbsp;Long | &nbsp;&nbsp;19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2263375 | &nbsp;&nbsp;9/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 88562 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Futures Contracts |  |  |  |  | &nbsp;&nbsp;$120997 |

---

\*As of period end.

#### Abbreviations

---

| | |
|:---|:---|
| **Selected Portfolio** |  |
| **FRN** | Floating Rate Note |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **ClearBridge Sustainable Infrastructure ETF** | &nbsp;&nbsp;**Industry** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
|  | **Common Stocks 96.5%** |  |  |  |
|  | **Australia 3.5%** |  |  |  |
|  | Atlas Arteria Ltd. | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp; 54352 | &nbsp;&nbsp;$181304 |
|  | Transurban Group | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp; 25956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 237803 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;419107 |
|  | **Brazil 2.9%** |  |  |  |
|  | Equatorial Energia SA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp; 53534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 352718 |
|  | **Canada 4.3%** |  |  |  |
|  | Canadian National Railway Co. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184368 |
| <sup>a</sup> | Hydro One Ltd. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;333331 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;517699 |
|  | **Denmark 2.5%** |  |  |  |
| <sup>a,b</sup> | Orsted AS | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305175 |
|  | **France 9.0%** |  |  |  |
|  | Getlink SE | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;30740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;591419 |
|  | Vinci SA | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;489887 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1081306 |
|  | **Germany 3.6%** |  |  |  |
|  | E.ON SE | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp;&nbsp;&nbsp;23635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;433499 |
|  | **Italy 12.1%** |  |  |  |
| <sup>a</sup> | Enav SpA | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;103576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476847 |
|  | Enel SpA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;61355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580205 |
|  | Terna - Rete Elettrica Nazionale | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;38549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;394858 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1451910 |
|  | **Netherlands 5.0%** |  |  |  |
|  | Ferrovial SE | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;11208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;595464 |
|  | **Portugal 3.1%** |  |  |  |
|  | EDP SA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;85056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367622 |
|  | **Spain 12.3%** |  |  |  |
| <sup>a</sup> | Cellnex Telecom SA | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;12420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480385 |
|  | Iberdrola SA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;18010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;344387 |
|  | Redeia Corp. SA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;30589 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;651710 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1476482 |
|  | **United Kingdom 18.2%** |  |  |  |
|  | National Grid PLC | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp;&nbsp;&nbsp;16551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240755 |
|  | Pennon Group PLC | &nbsp;&nbsp;Water Utilities | &nbsp;&nbsp;&nbsp;&nbsp;70823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486717 |
|  | Severn Trent PLC | &nbsp;&nbsp;Water Utilities | &nbsp;&nbsp;&nbsp;&nbsp;17928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;671679 |
|  | SSE PLC | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;19002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476781 |
|  | United Utilities Group PLC | &nbsp;&nbsp;Water Utilities | &nbsp;&nbsp;&nbsp;&nbsp;19852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310536 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2186468 |
|  | **United States 20.0%** |  |  |  |
|  | American Water Works Co., Inc. | &nbsp;&nbsp;Water Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310911 |
|  | Crown Castle, Inc. | &nbsp;&nbsp;Specialized REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;401366 |
|  | CSX Corp. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235784 |
|  | Entergy Corp. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355005 |
|  | Exelon Corp. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;412186 |
|  | NextEra Energy, Inc. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;474625 |
|  | Public Service Enterprise Group, Inc. | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219626 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2409503 |
|  | **Total Common Stocks (Cost $10,157,040)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11596953 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Preferred Stock 1.6%** |  |  |  |
|  | **Brazil 1.6%** |  |  |  |
| <sup>c</sup> | Cia Paranaense de Energia - Copel, Class B, 6.188%, pfd. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp; 85733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 195724 |
|  | **Total Preferred Stocks (Cost $159,794)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195724 |
|  | **Total Investments before Short-Term Investments (Cost $10,316,834)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11792677 |
|  | **Short-Term Investments 1.6%** |  |  |  |
|  | **Money Market Funds 1.6%** |  |  |  |
|  | **United States 1.6%** |  |  |  |
| <sup>d</sup> | JPMorgan 100% U.S. Treasury Securities Money Market Fund, 3.80% | &nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;185198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 185198 |
|  | **Total Short-Term Investments (Cost $185,198)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185198 |
|  | **Total Investments (Cost $10,502,032) 99.7%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11977875 |
|  | **Other Assets, less Liabilities 0.3%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39664 |
|  | **Net Assets 100.0%** |  |  | &nbsp;&nbsp;$12017539 |

---

---

| |
|:---|
| <sup>a</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional buyers or in a public offering registered under the Securities Act of 1933. At June 30, 2025, the aggregate value of these securities was $1,595,738, representing 13.3% of net assets. |
| <sup>b</sup>Non-income producing. |
| <sup>c</sup>Variable rate security. The rate shown represents the yield at period end. |
| <sup>d</sup>The rate shown is the annualized seven-day effective yield at period end. |

---

#### Abbreviations

---

| | |
|:---|:---|
| **Selected Portfolio** |  |
| **REIT** | Real Estate Investment Trust |
| **SPA** | Standby Purchase Agreement |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Franklin Disruptive Commerce ETF** | &nbsp;&nbsp;**Country** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
|  | **Common Stocks 99.9%** |  |  |  |
|  | **Broadline Retail 18.8%** |  |  |  |
|  | Alibaba Group Holding Ltd., Class A | &nbsp;&nbsp;China | &nbsp;&nbsp;2514 | &nbsp;&nbsp;$35164 |
| <sup>a</sup> | Amazon.com, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;3140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 688885 |
| <sup>a</sup> | Coupang, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;3401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 101894 |
|  | eBay, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;1273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94787 |
| <sup>a</sup> | Etsy, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10684 |
| <sup>a</sup> | Global-e Online Ltd. | &nbsp;&nbsp;Israel | &nbsp;&nbsp;1811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60741 |
| <sup>a</sup> | MercadoLibre, Inc. | &nbsp;&nbsp;Brazil | &nbsp;&nbsp;&nbsp;&nbsp;152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;397272 |
|  | Naspers Ltd., Class N | &nbsp;&nbsp;South Africa | &nbsp;&nbsp;&nbsp;&nbsp;171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53070 |
| <sup>a</sup> | PDD Holdings, Inc., ADR | &nbsp;&nbsp;China | &nbsp;&nbsp;&nbsp;&nbsp;352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36840 |
|  | Prosus NV | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53717 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1533054 |
|  | **Capital Markets 2.0%** |  |  |  |
| <sup>a</sup> | Coinbase Global, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109703 |
| <sup>a</sup> | Robinhood Markets, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56459 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166162 |
|  | **Commercial Services & Supplies 1.6%** |  |  |  |
| <sup>a</sup> | ACV Auctions, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;1144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18556 |
| <sup>a</sup> | Copart, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;1218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59767 |
| <sup>a</sup> | Liquidity Services, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7549 |
|  | RB Global, Inc. | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;389 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41308 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127180 |
|  | **Consumer Finance 0.1%** |  |  |  |
| <sup>a</sup> | Dave, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10468 |
|  | **Consumer Staples Distribution & Retail 4.5%** |  |  |  |
|  | Costco Wholesale Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222736 |
| <sup>a</sup> | Maplebear, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;1488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67317 |
|  | Walmart, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79202 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;369255 |
|  | **Diversified Consumer Services 0.7%** |  |  |  |
| <sup>a</sup> | Duolingo, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59453 |
|  | **Entertainment 12.4%** |  |  |  |
| <sup>a</sup> | Netflix, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;342817 |
|  | Nintendo Co. Ltd., ADR | &nbsp;&nbsp;Japan | &nbsp;&nbsp;3876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93102 |
| <sup>a</sup> | ROBLOX Corp., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;1917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201668 |
| <sup>a</sup> | Sea Ltd., ADR | &nbsp;&nbsp;Singapore | &nbsp;&nbsp;1518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242789 |
| <sup>a</sup> | Spotify Technology SA | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;167 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128146 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1008522 |
|  | **Financial Services 11.0%** |  |  |  |
| <sup>a</sup> | Adyen NV, ADR | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp;5324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97482 |
| <sup>a</sup> | Affirm Holdings, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;2126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146992 |
|  | Jack Henry & Associates, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47565 |
|  | Mastercard, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181507 |
| <sup>a</sup> | PayPal Holdings, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33221 |
| <sup>a</sup> | Shift4 Payments, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66602 |
| <sup>a</sup> | Toast, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;3492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154661 |
|  | Visa, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167583 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;895613 |
|  | **Ground Transportation 3.6%** |  |  |  |
| <sup>a</sup> | Lyft, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;1042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16422 |
| <sup>a</sup> | Uber Technologies, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;2560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238848 |
| <sup>a</sup> | XPO, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35614 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290884 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Health Care Technology 1.1%** |  |  |  |
| <sup>a</sup> | Doximity, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;1495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 91703 |
|  | **Hotels, Restaurants & Leisure 14.0%** |  |  |  |
| <sup>a</sup> | Airbnb, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp; 301 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39834 |
|  | Booking Holdings, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 347355 |
| <sup>a,b</sup> | Delivery Hero SE | &nbsp;&nbsp;Germany | &nbsp;&nbsp; 259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6984 |
| <sup>a</sup> | DoorDash, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;1987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 489815 |
|  | Expedia Group, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 66460 |
| <sup>a</sup> | MakeMyTrip Ltd. | &nbsp;&nbsp;India | &nbsp;&nbsp;1609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 157714 |
| <sup>a,b</sup> | Meituan, Class B | &nbsp;&nbsp;China | &nbsp;&nbsp;2068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33009 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1141171 |
|  | **Industrial REITs 0.1%** |  |  |  |
|  | Prologis, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7358 |
|  | **Interactive Media & Services 7.1%** |  |  |  |
|  | Alphabet, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107324 |
|  | Meta Platforms, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345426 |
| <sup>b</sup> | Scout24 SE | &nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41238 |
|  | Tencent Holdings Ltd. | &nbsp;&nbsp;China | &nbsp;&nbsp;1153 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73880 |
| <sup>a,b</sup> | Trustpilot Group PLC | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;2327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7723 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575591 |
|  | **IT Services 8.2%** |  |  |  |
| <sup>a</sup> | GoDaddy, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50057 |
| <sup>a</sup> | Shopify, Inc., Class A | &nbsp;&nbsp;Canada | &nbsp;&nbsp;5029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580095 |
| <sup>a</sup> | Wix.com Ltd. | &nbsp;&nbsp;Israel | &nbsp;&nbsp;&nbsp;&nbsp;252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39932 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;670084 |
|  | **Media 0.4%** |  |  |  |
| <sup>a</sup> | Trade Desk, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35347 |
|  | **Professional Services 0.4%** |  |  |  |
|  | TransUnion | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31592 |
|  | **Software 7.5%** |  |  |  |
| <sup>a</sup> | AppLovin Corp., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;753 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263610 |
| <sup>a</sup> | Descartes Systems Group, Inc. | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69424 |
| <sup>a</sup> | Fair Isaac Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40215 |
| <sup>a</sup> | HubSpot, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47870 |
| <sup>a</sup> | Life360, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;1313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85673 |
| <sup>a</sup> | Manhattan Associates, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;396 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78198 |
| <sup>a</sup> | Samsara, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26892 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;611882 |
|  | **Specialty Retail 5.2%** |  |  |  |
| <sup>a</sup> | Carvana Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253394 |
| <sup>a</sup> | Chewy, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;3436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146442 |
|  | ZOZO, Inc. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;1900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20481 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420317 |
|  | **Trading Companies & Distributors 1.2%** |  |  |  |
|  | Fastenal Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp;1537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64554 |
|  | WW Grainger, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37448 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102002 |
|  | **Total Common Stocks (Cost $7,047,821)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8147638 |
|  | **Total Investments (Cost $7,047,821) 99.9%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8147638 |
|  | **Other Assets, less Liabilities 0.1%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10237 |
|  | **Net Assets 100.0%** |  |  | &nbsp;&nbsp;$8157875 |

---

---

| |
|:---|
| <sup>a</sup>Non-income producing. |
| <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional buyers or in a public offering registered under the Securities Act of 1933. At June 30, 2025, the aggregate value of these securities was $88,954, representing 1.1% of net assets. |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

#### Abbreviations

---

| | |
|:---|:---|
| **Selected Portfolio** |  |
| **ADR** | American Depositary Receipt |
| **REIT** | Real Estate Investment Trust |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | |
|:---|:---|:---|:---|
| | **Franklin Dynamic Municipal Bond ETF** | &nbsp;&nbsp;**Principal Amount\*** | **Value** |
|  | **Corporate Bonds & Notes 1.0%** |  |  |
|  | **Arizona 1.0%** |  |  |
|  | Grand Canyon University, 5.125%, 10/01/28 | &nbsp;&nbsp;7500000 | &nbsp;&nbsp;$7292728 |
|  | **Puerto Rico 0.0%<sup>†</sup>** |  |  |
| <sup>a,b</sup> | AES Puerto Rico LP, 12.50%, 12/15/25 | &nbsp;&nbsp;89627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89627 |
|  | **Total Corporate Bonds & Notes (Cost $7,167,534)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7382355 |
|  | **Municipal Bonds 100.4%** |  |  |
|  | **Alabama 7.4%** |  |  |
|  | Black Belt Energy Gas District, |  |  |
|  | <sup>c</sup> VRDN, Refunding, 4.00%, 6/01/51 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp; 202502 |
|  | <sup>c</sup> VRDN, Series A, 5.25%, 5/01/55 | &nbsp;&nbsp; 9815000 | &nbsp;&nbsp;&nbsp; 10212164 |
| <sup>d</sup> | County of Mobile, Gomesa Projects, 4.00%, 11/01/45 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85987 |
|  | Energy Southeast A Cooperative District, |  |  |
|  | <sup>c</sup> VRDN, Series A-1, 5.50%, 11/01/53 | &nbsp;&nbsp; 2180000 | &nbsp;&nbsp;&nbsp; 2353905 |
|  | <sup>c</sup> VRDN, Series B, 5.25%, 7/01/54 | &nbsp;&nbsp; 5205000 | &nbsp;&nbsp;&nbsp; 5571091 |
|  | <sup>c</sup> VRDN, Series B-1, 5.75%, 4/01/54 | &nbsp;&nbsp; 915000 | &nbsp;&nbsp;&nbsp; 999721 |
|  | Homewood Educational Building Authority, CHF - Horizons II LLC, 5.50%, 10/01/44 | &nbsp;&nbsp;1070000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1096787 |
|  | MidCity Improvement District, |  |  |
|  | Special Assessment Area, Series 2022, 4.25%, 11/01/32 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp; 564676 |
|  | <sup>d</sup> Special Assessment Area, Series 2024, 6.50%, 11/01/44 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; 232849 |
|  | Selma Industrial Development Board, International Paper Co, Refunding, Series A, 4.20%, 5/01/34 | &nbsp;&nbsp;2640000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2670244 |
| <sup>c</sup> | Southeast Alabama Gas Supply District, Project No.1, Refunding, VRDN, Series A, 5.00%, 8/01/54 | &nbsp;&nbsp;2930000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3082322 |
|  | Southeast Energy Authority A Cooperative District, |  |  |
|  | Refunding, Series A-1, 5.00%, 11/01/35 | &nbsp;&nbsp; 7730000 | &nbsp;&nbsp;&nbsp; 7993342 |
|  | <sup>c</sup> VRDN, Refunding, Series A-1, 5.00%, 10/01/55 | &nbsp;&nbsp; 2665000 | &nbsp;&nbsp;&nbsp; 2810232 |
|  | <sup>c</sup> VRDN, Series A, 5.00%, 1/01/56 | &nbsp;&nbsp; 5610000 | &nbsp;&nbsp;&nbsp; 5728499 |
|  | <sup>c</sup> VRDN, Series A-1, 5.50%, 1/01/53 | &nbsp;&nbsp; 845000 | &nbsp;&nbsp;&nbsp; 902029 |
|  | <sup>c</sup> VRDN, Series B, 5.25%, 3/01/55 | &nbsp;&nbsp; 8995000 | &nbsp;&nbsp;&nbsp; 9402856 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;53909206 |
|  | **Alaska 0.1%** |  |  |
|  | Northern Tobacco Securitization Corp., Refunding, Series A, 4.00%, 6/01/39 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;938800 |
|  | **Arizona 1.1%** |  |  |
| <sup>c</sup> | Chandler Industrial Development Authority, Intel Corp, AMT, VRDN, 5.00%, 9/01/42 | &nbsp;&nbsp;2145000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2183308 |
|  | Glendale Industrial Development Authority, People of Faith Inc Obligated Group, 4.00%, 5/15/31 | &nbsp;&nbsp;160000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154566 |
| <sup>c</sup> | Industrial Development Authority of the City of Phoenix Arizona, Mayo Clinic Arizona, VRDN, Series B, 3.25%, 11/15/52 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 |
| <sup>d</sup> | Maricopa County Industrial Development Authority, Grand Canyon University Obligated Group, 7.375%, 10/01/29 | &nbsp;&nbsp;2925000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3030915 |
|  | Sierra Vista Industrial Development Authority, |  |  |
|  | <sup>d</sup> American Leadership Academy Inc, 5.00%, 6/15/44 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp; 1433289 |
|  | <sup>d</sup> Georgetown Community Development Authority, 9.00%, 10/01/37 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; 241014 |
|  | Tempe Industrial Development Authority, Tempe Life Care Village Obligated Group, Refunding, 4.00%, 12/01/31 | &nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223304 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7966396 |
|  | **Arkansas 0.2%** |  |  |
|  | Arkansas Development Finance Authority, |  |  |
|  | Washington Regional Medical Center, 5.00%, 2/01/35 | &nbsp;&nbsp; 1475000 | &nbsp;&nbsp;&nbsp; 1504474 |
|  | Washington Regional Medical Center, 5.00%, 2/01/36 | &nbsp;&nbsp; 160000 | &nbsp;&nbsp;&nbsp; 162744 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1667218 |
|  | **California 7.9%** |  |  |
| <sup>c</sup> | Anaheim Housing & Public Improvements Authority, City of Anaheim CA Water System Revenue, VRDN, Series A, 3.20%, 10/01/54 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 |
|  | California Community Choice Financing Authority, |  |  |
|  | <sup>b</sup> Series B, 5.00%, 3/01/56 | &nbsp;&nbsp; 1820000 | &nbsp;&nbsp;&nbsp; 1933994 |
|  | <sup>b</sup> Series E-2, 1 day USD SOFR + 1.67%, 4.591%, 2/01/54 | &nbsp;&nbsp; 4595000 | &nbsp;&nbsp;&nbsp; 4603562 |
|  | <sup>c</sup> VRDN, 5.25%, 1/01/54 | &nbsp;&nbsp; 8775000 | &nbsp;&nbsp;&nbsp; 9199721 |
|  | <sup>c</sup> VRDN, 5.50%, 10/01/54 | &nbsp;&nbsp; 990000 | &nbsp;&nbsp;&nbsp; 1061944 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| <sup>d</sup> | California Community College Financing Authority, NCCD-Napa Valley Properties LLC, Series 2022A, 4.25%, 7/01/32 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;463159 |
|  | California Community Housing Agency, |  |  |
|  | <sup>d</sup> Arbors Apartments, Series A, 5.00%, 8/01/50 | &nbsp;&nbsp; 2185000 | &nbsp;&nbsp;&nbsp;&nbsp;2017330 |
|  | <sup>d</sup> Aster Apartments, Series A-2, 4.00%, 2/01/43 | &nbsp;&nbsp; 2630000 | &nbsp;&nbsp;&nbsp;&nbsp;2320565 |
|  | <sup>d</sup> Brio Apartments & Next on Lex Apartments, Series A, 4.00%, 8/01/47 | &nbsp;&nbsp; 1320000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;988748 |
|  | <sup>d</sup> Fountains at Emerald Park, 4.00%, 8/01/46 | &nbsp;&nbsp; 2510000 | &nbsp;&nbsp;&nbsp;&nbsp;2058498 |
|  | <sup>d</sup> K Street Flats, 4.00%, 8/01/50 | &nbsp;&nbsp; 1125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840831 |
|  | <sup>d</sup> Verdant at Green Valley Apartments, 5.00%, 8/01/49 | &nbsp;&nbsp; 1935000 | &nbsp;&nbsp;&nbsp;&nbsp;1717913 |
|  | California Health Facilities Financing Authority, Episcopal Communities & Services for Seniors Obligated Group, Series A, 3.85%, 11/15/27 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;1002148 |
| <sup>c,d</sup> | California Infrastructure & Economic Development Bank, Desertxpress Enterprises LLC, AMT, Refunding, VRDN, Series A, 9.50%, 1/01/65 | &nbsp;&nbsp;1450000 | &nbsp;&nbsp;&nbsp;&nbsp;1374894 |
|  | California Municipal Finance Authority, |  |  |
|  | Caritas Corp, Refunding, Series 2021B, 3.00%, 8/15/31 | &nbsp;&nbsp; 145000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139084 |
|  | LAX Integrated Express Solutions LLC, AMT, 3.50%, 12/31/35 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138499 |
|  | LAX Integrated Express Solutions LLC, AMT, 5.00%, 12/31/31 | &nbsp;&nbsp; 265000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271074 |
|  | LAX Integrated Express Solutions LLC, AMT, Series A-P3, 5.00%, 6/30/27 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128338 |
|  | LAX Integrated Express Solutions LLC, AMT, Series A-P3, 5.00%, 6/30/29 | &nbsp;&nbsp; 420000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;433042 |
|  | LAX Integrated Express Solutions LLC, AMT, Series A-P3, 5.00%, 12/31/43 | &nbsp;&nbsp; 190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185713 |
|  | LAX Integrated Express Solutions LLC, Series A-P3, 5.00%, 12/31/27 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103279 |
|  | Series C, 5.50%, 9/01/34 | &nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64570 |
|  | Series C, 5.75%, 9/01/37 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;428457 |
|  | Series C, 6.00%, 9/01/42 | &nbsp;&nbsp; 630000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;670922 |
|  | Series D, 6.00%, 9/01/42 | &nbsp;&nbsp; 265000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;282213 |
| <sup>a,d,e</sup> | California Pollution Control Financing Authority, CalPlant I LLC, AMT, 7.50%, 7/01/32 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 |
|  | California School Finance Authority, |  |  |
|  | <sup>d</sup> 5.00%, 6/01/27 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50705 |
|  | <sup>d</sup> Aspire Public Schools Obligated Group, Refunding, 5.00%, 8/01/36 | &nbsp;&nbsp; 1450000 | &nbsp;&nbsp;&nbsp;&nbsp;1449924 |
|  | <sup>d</sup> Classical Academy Obligated Group, Series 2020A, 3.00%, 10/01/30 | &nbsp;&nbsp; 160000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152573 |
|  | <sup>d</sup> John Adams Academies Obligated Group, Series 2022A, 4.50%, 7/01/32 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249149 |
|  | <sup>d</sup> Summit Public Schools Obligated Group, 5.00%, 6/01/27 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52010 |
| <sup>d</sup> | City & County of San Francisco Special Tax District No., Series A, 4.00%, 9/01/36 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96752 |
| <sup>d</sup> | CMFA Special Finance Agency, Solana at Grand, Series A-2, 4.00%, 8/01/45 | &nbsp;&nbsp;2685000 | &nbsp;&nbsp;&nbsp;&nbsp;2270524 |
| <sup>d</sup> | CMFA Special Finance Agency VII, The Breakwater Apartments, 4.00%, 8/01/47 | &nbsp;&nbsp;2375000 | &nbsp;&nbsp;&nbsp;&nbsp;2112172 |
| <sup>d</sup> | CMFA Special Finance Agency VIII, Junior-Elan Huntington Beach, 4.00%, 8/01/47 | &nbsp;&nbsp;2905000 | &nbsp;&nbsp;&nbsp;&nbsp;2544027 |
| <sup>d</sup> | CMFA Special Finance Agency XII, Allure Apartments, 4.375%, 8/01/49 | &nbsp;&nbsp;1625000 | &nbsp;&nbsp;&nbsp;&nbsp;1332603 |
|  | CSCDA Community Improvement Authority, |  |  |
|  | <sup>d</sup> Jefferson Anaheim Social Bonds, 2.875%, 8/01/41 | &nbsp;&nbsp; 155000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136477 |
|  | <sup>d</sup> Parallel-Anaheim, Series A, 4.00%, 8/01/56 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85706 |
|  | <sup>d</sup> Renaissance at City Center, 5.00%, 7/01/51 | &nbsp;&nbsp; 1330000 | &nbsp;&nbsp;&nbsp;&nbsp;1204841 |
|  | <sup>d</sup> Towne at Glendale Apartments, 5.00%, 9/01/37 | &nbsp;&nbsp; 900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;891058 |
|  | <sup>d</sup> Waterscape Apartments, Series B, 4.00%, 9/01/46 | &nbsp;&nbsp; 1390000 | &nbsp;&nbsp;&nbsp;&nbsp;1104764 |
| <sup>d</sup> | Elsinore Valley Municipal Water District, Community Facilities District No. 2020, Series 2021A, 4.00%, 9/01/27 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100394 |
| <sup>c</sup> | Long Beach Bond Finance Authority, VRDN, Series B, 3 mo. USD Term SOFR + 1.45%, 4.524%, 11/15/27 | &nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;3035855 |
| <sup>c</sup> | Los Angeles Department of Water & Power, Refunding, VRDN, Series A, 3.00%, 7/01/48 | &nbsp;&nbsp;3700000 | &nbsp;&nbsp;&nbsp;&nbsp;3700000 |
|  | Perris Joint Powers Authority, Refunding, Series 2017B, 5.00%, 9/01/25 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100288 |
|  | River Islands Public Financing Authority, |  |  |
|  | Community Facilities District No. 2003, 5.00%, 9/01/32 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;526124 |
|  | Series 2023-1, 5.00%, 9/01/38 | &nbsp;&nbsp; 435000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;444587 |
| <sup>c</sup> | Southern California Public Power Authority, Libor-Project No 1, VRDN, Series A, 3 mo. USD Term SOFR + 1.47%, 4.51%, 11/01/38 | &nbsp;&nbsp;1255000 | &nbsp;&nbsp;&nbsp;&nbsp;1207873 |
|  |  |  | &nbsp;&nbsp;&nbsp;57276906 |
|  | **Colorado 3.3%** |  |  |
|  | Bradburn Metropolitan District No. 2, Bradburn Metropolitan District No. 2, Refunding, Series A, 5.00%, 12/01/38 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;592283 |
|  | Colorado Educational & Cultural Facilities Authority, Golden View Classical Academy, Refunding, 4.00%, 1/01/32 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198437 |
|  | Colorado Health Facilities Authority, |  |  |
|  | BSLC II Obligated Group, 5.25%, 9/15/45 | &nbsp;&nbsp; 1575000 | &nbsp;&nbsp;&nbsp;&nbsp;1538527 |
|  | <sup>c</sup> Children's Hospital Colorado Obligated Group, Refunding, VRDN, Series A, 4.00%, 12/01/52 | &nbsp;&nbsp; 1600000 | &nbsp;&nbsp;&nbsp;&nbsp;1600000 |
|  | Christian Living Neighborhoods Obligated Group, Refunding, 4.00%, 1/01/29 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99703 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | CommonSpirit Health Obligated Group, Refunding, Series A, 4.00%, 8/01/37 | &nbsp;&nbsp; 1480000 | &nbsp;&nbsp;&nbsp;&nbsp;1424045 |
|  | CommonSpirit Health Obligated Group, Refunding, Series A, 4.00%, 8/01/39 | &nbsp;&nbsp; 1405000 | &nbsp;&nbsp;&nbsp;&nbsp;1313783 |
|  | CommonSpirit Health Obligated Group, Refunding, Series A-1, 4.00%, 8/01/38 | &nbsp;&nbsp; 685000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;651308 |
|  | CommonSpirit Health Obligated Group, Series A, Refunding, 5.00%, 8/01/39 | &nbsp;&nbsp; 1975000 | &nbsp;&nbsp;&nbsp;&nbsp;2006536 |
|  | <sup>c</sup> Intermountain Healthcare Obligated Group, VRDN, Series D, 3.85%, 5/15/64 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp;&nbsp;4000000 |
|  | Denver Health & Hospital Authority, |  |  |
|  | <sup>d</sup> Refunding, Series A, 4.00%, 12/01/36 | &nbsp;&nbsp; 105000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101616 |
|  | Refunding, Series A, 4.00%, 12/01/37 | &nbsp;&nbsp; 1060000 | &nbsp;&nbsp;&nbsp;&nbsp;1010395 |
|  | Refunding, Series A, 4.00%, 12/01/38 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;937609 |
|  | Refunding, Series A, 4.00%, 12/01/39 | &nbsp;&nbsp; 1820000 | &nbsp;&nbsp;&nbsp;&nbsp;1680375 |
|  | Series A, 5.00%, 12/01/45 | &nbsp;&nbsp; 990000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;970306 |
| <sup>c</sup> | E-470 Public Highway Authority, Refunding, Series B, VRDN, 1 day USD SOFR + 0.75%, 3.691%, 9/01/39 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;994281 |
| <sup>d</sup> | Karl's Farm Metropolitan District No. 2, Series A, 5.625%, 12/01/50 | &nbsp;&nbsp;1695000 | &nbsp;&nbsp;&nbsp;&nbsp;1752668 |
| <sup>d</sup> | Southern Ute Indian Tribe of the Southern Ute Reservation of Colorado, Series A, 5.00%, 4/01/35 | &nbsp;&nbsp;1300000 | &nbsp;&nbsp;&nbsp;&nbsp;1377509 |
|  | Southglenn Metropolitan District, Refunding, 5.00%, 12/01/30 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100001 |
|  | Southlands Metropolitan District No. 1, |  |  |
|  | Refunding, Series 2017A-1, 3.50%, 12/01/27 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98352 |
|  | Refunding, Series A-1, 5.00%, 12/01/37 | &nbsp;&nbsp; 310000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;304372 |
|  | Series A-2, 3.50%, 12/01/27 | &nbsp;&nbsp; 160000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157435 |
|  | Sterling Ranch Community Authority Board, Special Assessment, Special Improvement District N, 5.625%, 12/01/43 | &nbsp;&nbsp;1270000 | &nbsp;&nbsp;&nbsp;&nbsp;1272870 |
|  |  |  | &nbsp;&nbsp;&nbsp;24182411 |
|  | **Connecticut 0.7%** |  |  |
|  | Connecticut State Health & Educational Facilities Authority, |  |  |
|  | Masonicare Corp Obligated Group, Refunding, Series F, 5.00%, 7/01/37 | &nbsp;&nbsp; 1150000 | &nbsp;&nbsp;&nbsp;&nbsp;1131342 |
|  | Masonicare Corp Obligated Group, Refunding, Series F, 5.00%, 7/01/43 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp;&nbsp;3682560 |
|  | <sup>d</sup> McLean Affiliates Obligated Group, Series A, 5.00%, 1/01/30 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99655 |
|  | Sacred Heart University Inc, Refunding, 5.00%, 7/01/29 | &nbsp;&nbsp; 5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5170 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;4918727 |
|  | **Delaware 0.3%** |  |  |
|  | County of Kent, CHF-Dover LLC, 5.00%, 7/01/29 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101850 |
|  | Delaware State Economic Development Authority, Newark Charter School Inc, Refunding, 4.00%, 9/01/41 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;873778 |
|  | Delaware State Housing Authority, Series B, 4.65%, 7/01/40 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;1001657 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;1977285 |
|  | **District of Columbia 0.0%<sup>†</sup>** |  |  |
|  | District of Columbia, |  |  |
|  | Plenary Infrastructure DC LLC, AMT, 5.50%, 2/28/37 | &nbsp;&nbsp; 95000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104884 |
|  | Plenary Infrastructure DC LLC, AMT, Series A, 5.50%, 8/31/36 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27707 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132591 |
|  | **Florida 11.7%** |  |  |
|  | Abbott Square Community Development District, 2022 Project, Special Assessment, 5.00%, 6/15/32 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205726 |
| <sup>c</sup> | Alachua County Health Facilities Authority, Shands Teaching Hospital & Clinics Obligated Group, VRDN, Series A, 1 day USD SOFR + 0.87%, 3.811%, 12/01/37 | &nbsp;&nbsp;405000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396518 |
|  | Antillia Community Development District, Special Assessment, Series 2024, 5.00%, 5/01/31 | &nbsp;&nbsp;185000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187452 |
| <sup>d</sup> | Artisan Lakes East Community Development District, Special Assessment, Series 2021-2, 2.30%, 5/01/26 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98497 |
| <sup>d</sup> | Astonia Community Development District, Assessment Area One Project, Special Assessment, Series 2020, 3.375%, 5/01/30 | &nbsp;&nbsp;145000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142469 |
|  | Avalon Groves Community Development District, Assessment Area 3, Special Assessment, 2.375%, 5/01/26 | &nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34549 |
| <sup>d</sup> | Avalon Park West Community Development District, 2020 Project Area, Special Assessment, Refunding, 3.25%, 5/01/30 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96718 |
|  | Aventura Isles Community Development District, Special Assessment, Refunding, 5.00%, 5/01/43 | &nbsp;&nbsp;1210000 | &nbsp;&nbsp;&nbsp;&nbsp;1170175 |
|  | Babcock Ranch Community Independent Special District, |  |  |
|  | Assessment Area 2C, Special Assessment, 3.00%, 5/01/30 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48435 |
|  | Assessment Area 3B, Special Assessment, 3.00%, 5/01/30 | &nbsp;&nbsp; 145000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139776 |
|  | Assessment Area, Special Assessment, Refunding, Series 2022, 4.125%, 5/01/27 | &nbsp;&nbsp; 525000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525912 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | Belmond Reserve Community Development District, 2020 Project, Special Assessment, 3.25%, 5/01/30 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97061 |
|  | Berry Bay Community Development District, Assessment Area One, Special Assessment, 3.125%, 5/01/31 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94470 |
|  | Black Creek Community Development District, Expansion Area Project, Special Assessment, Series 2022, 5.125%, 6/15/32 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103981 |
| <sup>d</sup> | Brightwater Community Development District, Assessment Area Two, Special Assessment, 5.35%, 5/01/44 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242848 |
|  | Buena Lago Community Development District, Assessment Area One Project, Special Assessment, 5.25%, 5/01/42 | &nbsp;&nbsp;665000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;661102 |
|  | Capital Projects Finance Authority, |  |  |
|  | Florida University Project, Refunding, Series 2020A-1, 5.00%, 10/01/32 | &nbsp;&nbsp; 1555000 | &nbsp;&nbsp;&nbsp;&nbsp;1629865 |
|  | Florida University Project, Refunding, Series 2020A-1, 5.00%, 10/01/35 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;1028505 |
|  | Florida University Project, Refunding, Series A-1, 5.00%, 10/01/30 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;1059116 |
|  | Florida University Project, Refunding, Series A-1, 5.00%, 10/01/34 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;1034592 |
|  | <sup>d</sup> PRG - UnionWest Properties LLC, Series 2024A-1, 5.25%, 6/01/44 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;995969 |
|  | Capital Trust Agency, Inc., |  |  |
|  | <sup>d</sup> AcadeMir Charter School West, 3.00%, 7/01/31 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115550 |
|  | <sup>d</sup> Educational Growth Fund LLC, 3.375%, 7/01/31 | &nbsp;&nbsp; 90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85824 |
|  | Liza Jackson Preparatory School Inc, 4.00%, 8/01/30 | &nbsp;&nbsp; 245000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244922 |
|  | <sup>d</sup> South Tech Schools Obligated Group, Series A, 5.00%, 6/15/40 | &nbsp;&nbsp; 1015000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;937376 |
|  | <sup>d</sup> WFCS Holdings II LLC, Series 2021A, 3.30%, 1/01/31 | &nbsp;&nbsp; 290000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268525 |
|  | Capital Trust Authority, |  |  |
|  | <sup>d,f</sup> Gulf Coast Portfolio Obligated Group, Refunding, 3/01/29 | &nbsp;&nbsp; 855000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;706990 |
|  | <sup>d</sup> Madrone Florida Tech Student Housing I LLC, Series A, 4.75%, 7/01/40 | &nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;432031 |
|  | <sup>d</sup> Madrone Florida Tech Student Housing I LLC, Series A, 5.00%, 7/01/45 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330206 |
|  | Caymas Community Development District, Assessment Area One, Special Assessment, 4.45%, 5/01/31 | &nbsp;&nbsp;240000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241579 |
| <sup>d</sup> | Cedar Crossings Community Development District, 2025 Project, Special Assessment, 5.30%, 5/01/45 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;474742 |
|  | Celebration Community Development District, Assessment Area One Project, Special Assessment, Series 2021, 3.125%, 5/01/41 | &nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40168 |
|  | Central Parc Community Development District, Special Assessment, Series 2024, 5.70%, 5/01/44 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;972148 |
|  | Chaparral Palm Bay Community Development District, Assessment Area Two, Special Assessment, 4.50%, 5/01/31 | &nbsp;&nbsp;410000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;411527 |
|  | City of Jacksonville, Genesis Health Inc Obligated Group, Refunding, 4.00%, 11/01/40 | &nbsp;&nbsp;1565000 | &nbsp;&nbsp;&nbsp;&nbsp;1429571 |
| <sup>d</sup> | City of Venice, Refunding, Series B-2, 4.50%, 1/01/30 | &nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550870 |
|  | Coddington Community Development District, Special Assessment, Series 2022, 5.00%, 5/01/32 | &nbsp;&nbsp;270000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;282222 |
|  | Connerton East Community Development District, |  |  |
|  | Assessment Area One, Special Assessment, Series 2023, 4.25%, 6/15/30 | &nbsp;&nbsp; 165000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167035 |
|  | Assessment Area Two, Special Assessment, 5.45%, 6/15/45 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;479105 |
|  | Coral Bay Lee County Community Development District, Assessment Area One, Special Assessment, 5.50%, 5/01/42 | &nbsp;&nbsp;280000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283115 |
|  | Coral Keys Homes Community Development District, Special Assessment, Series 2020, 3.125%, 5/01/30 | &nbsp;&nbsp;165000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160171 |
|  | Cordoba Ranch Community Development District, Special Assessment, Refunding, 3.00%, 5/01/31 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96084 |
|  | Cordova Palms Community Development District, |  |  |
|  | Assessment Area 1, Special Assessment, 4.80%, 5/01/27 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50449 |
|  | Special Assessment, Series 2021, 2.80%, 5/01/31 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92413 |
|  | Creekview Community Development District, Phase 2, Special Assessment, Series 2024, 5.375%, 5/01/44 | &nbsp;&nbsp;470000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;449482 |
| <sup>d</sup> | Curiosity Creek Community Development District, Assessment Area One, Special Assessment, 4.65%, 5/01/31 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301110 |
|  | Cypress Bluff Community Development District, |  |  |
|  | Assessment Area One, Special Assessment, 5.30%, 5/01/45 | &nbsp;&nbsp; 660000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;633453 |
|  | <sup>d</sup> Special Assessment, Series 2020A, 3.125%, 5/01/30 | &nbsp;&nbsp; 55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53938 |
|  | Cypress Park Estates Community Development District, Special Assessment, Series 2022, 4.375%, 5/01/27 | &nbsp;&nbsp;55000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55124 |
|  | Cypress Ridge Community Development District, Assessment Area One Project, Special Assessment, 4.875%, 5/01/30 | &nbsp;&nbsp;370000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;376078 |
|  | Darby Community Development District, Special Assessment, Series A-2, 5.875%, 5/01/35 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;407033 |
|  | Del Webb Oak Creek Community Development District, 2023 Project, Special Assessment, 4.125%, 5/01/30 | &nbsp;&nbsp;105000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106157 |
|  | Del Webb River Reserve Community Development District, Del Webb River Reserve Community Development District, Special Assessment, 5.625%, 5/01/45 | &nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425498 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| <sup>d</sup> | Downtown Doral South Community Development District, Assessment Area 2, Special Assessment, 4.25%, 12/15/28 | &nbsp;&nbsp;215000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216123 |
| <sup>d</sup> | DW Bayview Community Development District, Special Assessment, Series 2021, 3.00%, 5/01/32 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95633 |
|  | East 547 Community Development District, Assessment Area 2, Special Assessment, 5.50%, 5/01/30 | &nbsp;&nbsp;155000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159351 |
|  | East Bonita Beach Road Community Development District, Assessment Area Two, Special Assessment, 3.00%, 5/01/32 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95458 |
|  | Edgewater East Community Development District, |  |  |
|  | Assessment Area One, Special Assessment, 3.10%, 5/01/31 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94840 |
|  | Assessment Area Two, Special Assessment, 3.00%, 5/01/27 | &nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123007 |
| <sup>d</sup> | Enbrook Community Development District, Special Assessment, Series 2020, 3.00%, 5/01/30 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94659 |
|  | Entrada Community Development District, Special Assessment, Series 2024, 5.00%, 5/01/44 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283968 |
|  | Epperson North Community Development District, |  |  |
|  | Assessment Area Four, Special Assessment, 4.50%, 5/01/31 | &nbsp;&nbsp; 135000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135801 |
|  | Assessment Area Two, Special Assessment, 3.00%, 5/01/31 | &nbsp;&nbsp; 80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74906 |
|  | Escambia County Health Facilities Authority, Baptist Hospital Inc Obligated Group, Refunding, 5.00%, 8/15/34 | &nbsp;&nbsp;2240000 | &nbsp;&nbsp;&nbsp;&nbsp;2338377 |
|  | Everlands Community Development District, Assessment Area Two, Special Assessment, 5.25%, 6/15/44 | &nbsp;&nbsp;275000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268961 |
|  | Everlands II Community Development District, Special Assessment, Series 2024, 5.20%, 6/15/44 | &nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121666 |
|  | Florida Development Finance Corp., |  |  |
|  | <sup>c,d</sup> AAF Operations Holdings LLC, AMT, Refunding, VRDN, 12.00%, 7/15/32 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;796000 |
|  | <sup>c,d</sup> Brightline Florida Holdings LLC, AMT, VRDN, Series A, 8.25%, 7/01/57 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;719478 |
|  | <sup>d</sup> Glenridge on Palmer Ranch Obligated Group, Refunding, 5.00%, 6/01/31 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204914 |
|  | <sup>d</sup> Mayflower Retirement Community, Refunding, 4.00%, 6/01/31 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96561 |
|  | Refunding, Series A, 5.00%, 2/01/39 | &nbsp;&nbsp; 2615000 | &nbsp;&nbsp;&nbsp;&nbsp;2654777 |
|  | Florida Housing Finance Corp., Series 3, 5.00%, 7/01/45 | &nbsp;&nbsp;430000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430607 |
|  | Florida Municipal Loan Council, AMT, Special Assessment, 5.15%, 5/01/44 | &nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216416 |
|  | Flow Way Community Development District, Special Assessment, Series 2024, Refunding, 5.00%, 5/01/44 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;968277 |
| <sup>d</sup> | Forest Lake Community Development District, Assessment Area 1 Project, Special Assessment, 3.25%, 5/01/30 | &nbsp;&nbsp;145000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141362 |
|  | Fox Branch Ranch Community Development District, Assessment Area One, Special Assessment, 5.20%, 5/01/45 | &nbsp;&nbsp;530000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;506667 |
|  | Gardens at Hammock Beach Community Development District, Special Assessment, Assessment Area One, 5.375%, 5/01/44 | &nbsp;&nbsp;610000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;596391 |
|  | Grand Oaks Community Development District, Assessment Area 2, Special Assessment, 4.00%, 5/01/30 | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149129 |
|  | Grande Pines Community Development District, Assessment Area Two, Special Assessment, 4.65%, 5/01/34 | &nbsp;&nbsp;430000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;433428 |
|  | Hacienda North Community Development District, Special Assessment, Series 2023, 5.50%, 5/01/33 | &nbsp;&nbsp;135000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141062 |
|  | Hammock Oaks Community Development District, Special Assessment, Assessment Area Two, 5.00%, 5/01/31 | &nbsp;&nbsp;120000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121361 |
|  | Hammock Reserve Community Development District, Assessment Area One Project, Special Assessment, 3.25%, 5/01/30 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97232 |
|  | Harmony on Lake Eloise Community Development District, Assessment Area Two, Special Assessment, 5.45%, 11/01/45 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;484071 |
|  | Harvest Ridge Community Development District, Special Assessment, Series 2024, 5.125%, 5/01/44 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;488628 |
|  | Hawkstone Community Development District, Assessment Area 4, Special Assessment, 4.375%, 5/01/30 | &nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80743 |
|  | Herons Glen Recreation District, Special Assessment, Refunding, 3.00%, 5/01/32 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96419 |
|  | Hickory Tree Community Development District, Assessment Area One, Special Assessment, 4.50%, 5/01/31 | &nbsp;&nbsp;455000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455672 |
|  | Highland Trails Community Development District, Assessment Area One, Special Assessment, 4.70%, 5/01/31 | &nbsp;&nbsp;190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191913 |
| <sup>d</sup> | Hillcrest Preserve Community Development District, Special Assessment, Series 2024, 5.00%, 5/01/44 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230562 |
|  | Hills of Minneola Community Development District, South Parcel Assessment Area, Special Assessment, 2.375%, 5/01/26 | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24656 |
|  | Holly Hill Road East Community Development District, Assessment Area 3 Project, Special Assessment, 4.00%, 11/01/25 | &nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24976 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | Hunt Club Grove Community Development District, |  |  |
|  | Assessment Area One, Special Assessment, 4.85%, 6/15/31 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226271 |
|  | Assessment Area One, Special Assessment, 5.375%, 6/15/44 | &nbsp;&nbsp; 185000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177940 |
| <sup>g</sup> | Ibis Landing Community Development District, 2025 Project Area, Special Assessment, 5.70%, 6/15/45 | &nbsp;&nbsp;535000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;537646 |
|  | Indigo Community Development District, 2021 Assessment Area, Phase A1, Special Assessment, 2.70%, 5/01/31 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93228 |
|  | Juniper Cove Community Development District, Juniper Cove Community Development District, Series 2025, Special Assessment, 5.45%, 5/01/45 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;487028 |
|  | Kelly Park Community Development District, |  |  |
|  | Assessment Area One Project, Special Assessment, 5.125%, 11/01/30 | &nbsp;&nbsp; 185000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188598 |
|  | Assessment Area Two Project, Special Assessment, 5.30%, 5/01/45 | &nbsp;&nbsp; 650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;623855 |
|  | Keys Edge Community Development District, Assessment Area One Project, Special Assessment, 5.10%, 5/01/44 | &nbsp;&nbsp;475000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450345 |
|  | Kindred Community Development District II, |  |  |
|  | Special Assessment, 5.65%, 5/01/43 | &nbsp;&nbsp; 315000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321024 |
|  | Special Assessment, Series 2020, 3.00%, 5/01/30 | &nbsp;&nbsp; 155000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150148 |
|  | Kingman Gate Community Development District, |  |  |
|  | Special Assessment, Series 2020, 3.125%, 6/15/30 | &nbsp;&nbsp; 110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107714 |
|  | Special Assessment, Series 2021, 2.50%, 6/15/26 | &nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19773 |
|  | Lakes at Bella Lago Community Development District, Special Assessment, 5.75%, 5/01/43 | &nbsp;&nbsp;165000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166157 |
|  | Lakes by the Bay South Community Development District, Special Assessment, Refunding, Series 2024, 5.00%, 5/01/34 | &nbsp;&nbsp;440000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;465269 |
|  | Lakes of Sarasota Community Development District, |  |  |
|  | Assessment Area One, Special Assessment, 3.40%, 5/01/31 | &nbsp;&nbsp; 135000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129640 |
|  | Assessment Area Two, Special Assessment, 3.00%, 5/01/26 | &nbsp;&nbsp; 80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79414 |
|  | Special Assessment, Series A, 5.30%, 5/01/44 | &nbsp;&nbsp; 425000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405159 |
|  | Lakes of Sarasota Community Development District 2, Special Assessment, Series A, 5.50%, 5/01/45 | &nbsp;&nbsp;630000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;607930 |
|  | Lakewood Ranch Stewardship District, |  |  |
|  | Azario Project, Special Assessment, Series 2020, 3.20%, 5/01/30 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169399 |
|  | <sup>d</sup> Lorraine Lakes Project, Special Assessment, Series 2020, 3.125%, 5/01/30 | &nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57781 |
|  | <sup>d</sup> Northeast Sector Project, Special Assessment, Refunding, 3.20%, 5/01/30 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96287 |
|  | Special Assessment, Series 2024, 5.25%, 5/01/44 | &nbsp;&nbsp; 580000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;569951 |
|  | Star Farms at Lakewood Ranch Proj-Phase 1/2, Special Assessment, 2.70%, 5/01/31 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92292 |
|  | Taylor Ranch Project, Special Assessment, 6.125%, 5/01/43 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;519734 |
|  | Villages Lakewood Ranch South, Special Assessment, Series 2016, 4.25%, 5/01/26 | &nbsp;&nbsp; 460000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460932 |
|  | Langley South Community Development District, Assessment Area One, Special Assessment, 5.125%, 5/01/44 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239438 |
|  | Lawson Dunes Community Development District, Special Assessment, Series 2022, 4.375%, 5/01/27 | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65264 |
|  | Lee County Industrial Development Authority, Shell Point Obligated Group, 4.375%, 11/15/29 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;1003682 |
|  | Longleaf Community Development District, |  |  |
|  | <sup>d</sup> Neighborhood 4 Assessment Area One, Special Assessment, 4.50%, 5/01/31 | &nbsp;&nbsp; 140000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141637 |
|  | Special Assessment, Series A, 4.375%, 5/01/31 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249375 |
|  | Los Cayos Community Development District, 2024 Project, Special Assessment, 4.40%, 6/15/31 | &nbsp;&nbsp;265000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;267743 |
|  | LT Ranch Community Development District, Phase IIA Assessment Area, Special Assessment, 5.00%, 5/01/27 | &nbsp;&nbsp;105000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106348 |
|  | LTC Ranch West Residential Community Development District, Assessment Area Four Project, Refunding, Special Assessment, Series AA4, 5.375%, 5/01/44 | &nbsp;&nbsp;505000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;477960 |
|  | Madeira Community Development District, Assessment Area No. 2, Special Assessment, 5.50%, 5/01/45 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;478512 |
|  | Magnolia Island Community Development District, Assessment Area One, Special Assessment, 5.55%, 5/01/45 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240427 |
| <sup>d</sup> | Magnolia Park Community Development District, Special Assessment, Refunding, 4.00%, 5/01/31 | &nbsp;&nbsp;47000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47935 |
|  | Marion Ranch Community Development District, |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Marion Ranch Community Development District, Series 2024, Special Assessment, 5.70%, 5/01/44 | &nbsp;&nbsp; 940000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;926372 |
|  | Special Assessment, 5.10%, 5/01/31 | &nbsp;&nbsp; 190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192578 |
|  | Meadow View at Twin Creeks Community Development District, Phase 4, Special Assessment, 3.00%, 5/01/31 | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65370 |
|  | Miami Health Facilities Authority, Miami Jewish Health Systems Obligated Group, Refunding, 5.00%, 7/01/28 | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148399 |
|  | Middleton Community Development District A, Special Assessment, Series 2022, 5.45%, 5/01/32 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212802 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | Mirada II Community Development District, 2021 Project Area, Special Assessment, 3.125%, 5/01/31 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92606 |
|  | Newport Isles Community Development District, Special Assessment, Series 2024, 5.00%, 5/01/44 | &nbsp;&nbsp;440000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415992 |
|  | Normandy Community Development District, |  |  |
|  | <sup>d</sup> Assessment Area One, Special Assessment, 4.625%, 5/01/31 | &nbsp;&nbsp; 435000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435848 |
|  | <sup>d</sup> Assessment Area One, Special Assessment, 5.30%, 5/01/44 | &nbsp;&nbsp; 335000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;314945 |
| <sup>d</sup> | North Powerline Road Community Development District, Special Assessment, Series 2022, 4.75%, 5/01/27 | &nbsp;&nbsp;85000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85717 |
|  | North River Ranch Improvement Stewardship District, Special Assessment, Series A, 5.70%, 5/01/29 | &nbsp;&nbsp;145000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148107 |
|  | North-1 Pasco Community Development District, Assessment Area Two, Special Assessment, Series A, 3.25%, 5/01/31 | &nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9466 |
|  | Old Hickory Community Development District, Special Assessment, Series 2020, 3.00%, 6/15/30 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96301 |
|  | Pacific Ace Community Development District, Assessment Area Two, Special Assessment, 5.20%, 5/01/44 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480973 |
|  | Palermo Community Development District, |  |  |
|  | 2023 Project, Special Assessment, 4.125%, 6/15/30 | &nbsp;&nbsp; 65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65607 |
|  | Assessment Area Two, Special Assessment, 5.35%, 6/15/45 | &nbsp;&nbsp; 745000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;733660 |
|  | Palm Beach County Health Facilities Authority, |  |  |
|  | Jupiter Medical Center Obligated Group, 5.00%, 11/01/32 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322194 |
|  | Jupiter Medical Center Obligated Group, 5.00%, 11/01/40 | &nbsp;&nbsp; 415000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420702 |
|  | Jupiter Medical Center Obligated Group, Refunding, Series A, 5.00%, 11/01/36 | &nbsp;&nbsp; 960000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;998108 |
|  | Jupiter Medical Center Obligated Group, Refunding, Series A, 5.00%, 11/01/37 | &nbsp;&nbsp; 585000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;604054 |
|  | Jupiter Medical Center Obligated Group, Series A, 5.00%, 11/01/39 | &nbsp;&nbsp; 190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193477 |
|  | Jupiter Medical Center Obligated Group, Series A, 5.00%, 11/01/42 | &nbsp;&nbsp; 145000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145057 |
|  | Lifespace Communities Inc Obligated Group, Refunding, Series C, 4.00%, 5/15/35 | &nbsp;&nbsp; 645000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;619273 |
|  | Lifespace Communities Inc Obligated Group, Refunding, Series C, 5.00%, 5/15/27 | &nbsp;&nbsp; 292000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;292097 |
|  | Lifespace Communities Inc Obligated Group, Series B, 5.00%, 5/15/37 | &nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60309 |
|  | Lifespace Communities, Inc., 5.00%, 5/15/41 | &nbsp;&nbsp; 555000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;548776 |
|  | Palm Coast Park Community Development District, |  |  |
|  | Sawmill Branch Phase 2, Special Assessment, 4.15%, 5/01/27 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200594 |
|  | Sawmill Branch Phase 7, Special Assessment, 5.00%, 5/01/44 | &nbsp;&nbsp; 270000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253455 |
|  | Palm Gate Community Development District, 2025 Project, Special Assessments, 5.30%, 6/15/45 | &nbsp;&nbsp;595000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;563704 |
|  | Parkview at Long Lake Ranch Community Development District, Special Assessment, Series 2020, 3.125%, 5/01/30 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95116 |
|  | Parrish Lakes Community Development District, |  |  |
|  | Assessment Area One Project, Special Assessment, 4.00%, 5/01/30 | &nbsp;&nbsp; 155000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155026 |
|  | Assessment Area Three, Special Assessment, 5.00%, 5/01/31 | &nbsp;&nbsp; 270000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272458 |
|  | Parrish Lakes II Community Development District, Assessment Area One, Special Assessment, 5.125%, 5/01/44 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470487 |
|  | Parrish Plantation Community Development District, |  |  |
|  | Assessment Area Four Project-S, Special Assessment, 4.75%, 5/01/31 | &nbsp;&nbsp; 80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81227 |
|  | Assessment Area One, Special Assessment, 3.125%, 5/01/31 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94719 |
|  | Assessment Area Three Project, Special Assessment, 5.80%, 5/01/44 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200983 |
|  | Pasadena Ridge Community Development District, Assessment Area One, Special Assessment, 5.05%, 5/01/44 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235296 |
|  | Peace Creek Village Community Development District, Special Assessment, Series 2024, 4.625%, 5/01/31 | &nbsp;&nbsp;325000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;328213 |
|  | Peace Crossing Community Development District, Assessment Area One, Special Assessment, 5.00%, 5/01/31 | &nbsp;&nbsp;325000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325376 |
|  | Pine Ridge Plantation Community Development District, Subordinate Lien, Special Assessment, Refunding, Series 2020A-2, 3.30%, 5/01/30 | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147083 |
|  | Pioneer Ranch Community Development District, Special Assessment, Series 2024, 5.00%, 5/01/44 | &nbsp;&nbsp;565000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525379 |
| <sup>d</sup> | Preserve at Legends Pointe Community Development District, Preserve at Legends Pointe Community Development District, Series 2025, Special Assessment, 5.625%, 5/01/45 | &nbsp;&nbsp;535000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;529046 |
|  | Preserve at South Branch Community Development District, Phase 3, Special Assessment, Series 2021, 3.00%, 5/01/31 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96696 |
|  | Reflection Bay Community Development District, Reflection Bay Community Development District, Series 2025, Special Assessment, 5.625%, 5/01/45 | &nbsp;&nbsp;210000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206929 |
|  | Regal Village Community Development District, Special Assessment Area, 5.20%, 5/01/44 | &nbsp;&nbsp;230000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222817 |
|  | Reserve at Van Oaks Community Development District, Special Assessment, Series 2023 Project, 5.125%, 5/01/43 | &nbsp;&nbsp;180000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178913 |
|  | Reunion East Community Development District, Special Assessment, Series 2021, 2.85%, 5/01/31 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92914 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| <sup>d</sup> | Reunion West Community Development District, Assessment Area Four Project, Special Assessment, 4.75%, 11/01/38 | &nbsp;&nbsp;120000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118670 |
|  | River Hall Community Development District, |  |  |
|  | <sup>d</sup> Assessment Area 5, Special Assessment, 5.35%, 5/01/44 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;574756 |
|  | Special Assessment, Series A, 6.25%, 5/01/43 | &nbsp;&nbsp; 170000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176204 |
|  | River Landing Community Development District, River Landing Community Development District, Series 2025, Special Assessment, 5.20%, 5/01/45 | &nbsp;&nbsp;640000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;612565 |
|  | Rivers Edge II Community Development District, Special Assessment, Series 2021, 3.00%, 5/01/31 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93386 |
| <sup>d</sup> | Rivers Edge III Community Development District, Special Assessment, Series 2021, 2.40%, 5/01/26 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98594 |
| <sup>d</sup> | Rolling Oaks Community Development District, 2022 Assessment Area, Special Assessment, 6.25%, 5/01/42 | &nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226525 |
| <sup>d</sup> | Rye Ranch Community Development District, Assessment Area One, Special Assessment, Refunding, 5.00%, 11/01/30 | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40681 |
|  | Saddle Creek Preserve of Polk County Community Development District, Assessment Area One, Special Assessment, 3.00%, 6/15/30 | &nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77146 |
| <sup>d</sup> | Saltmeadows Community Development District, 2025 Assessment Area Two, Special Assessment, 5.75%, 5/01/45 | &nbsp;&nbsp;230000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230356 |
|  | Sanctuary Cove Community Development District, Special Assessment, Series 2018, 2.125%, 5/01/26 | &nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68859 |
|  | Sandmine Road Community Development District, |  |  |
|  | <sup>d</sup> Assessment Area One, Special Assessment, 3.125%, 5/01/30 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98026 |
|  | Assessment Area Two, Special Assessment, 2.30%, 11/01/26 | &nbsp;&nbsp; 25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24566 |
|  | Sandridge Community Development District, Special Assessment, Series 2021A1, 2.875%, 5/01/26 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99174 |
|  | Sawgrass Village Community Development District, Assessment Area Two, Special Assessment, 6.125%, 11/01/43 | &nbsp;&nbsp;155000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159125 |
|  | Sawyers Landing Community Development District, Special Assessment, Series 2021, 3.75%, 5/01/31 | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148344 |
|  | Scenic Terrace North Community Development District, 2023 Assessment Area, Special Assessment, 5.125%, 5/01/30 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305567 |
| <sup>d</sup> | Seaton Creek Reserve Community Development District, Assessment Area One, Special Assessment, 4.625%, 6/15/30 | &nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20310 |
|  | Sebastian Isles Community Development District, Special Assessment, Series 2024, 5.00%, 5/01/44 | &nbsp;&nbsp;175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166241 |
|  | Sherwood Manor Community Development District, Assessment Area Two, Special Assessment, 4.625%, 5/01/30 | &nbsp;&nbsp;95000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96455 |
|  | Shingle Creek at Bronson Community Development District, Special Assessment, Series 2021, 3.10%, 6/15/31 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96842 |
|  | Silver Oaks Community Development District, Special Assessment, 4.70%, 5/01/31 | &nbsp;&nbsp;210000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212251 |
|  | Six Mile Creek Community Development District, |  |  |
|  | Assessment Area 2, Phase 3, Refunding, Special Assessment, 3.10%, 5/01/31 | &nbsp;&nbsp; 75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70571 |
|  | Project Area, Special Assessment, Series 2024, 5.10%, 5/01/44 | &nbsp;&nbsp; 490000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;454206 |
| <sup>d</sup> | Somerset Bay Community Development District, Special Assessment, Assessment Area One, 4.85%, 5/01/31 | &nbsp;&nbsp;305000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306316 |
|  | Sorrento Pines Community Development District, |  |  |
|  | Assessment Area One, 4.375%, 5/01/30 | &nbsp;&nbsp; 45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45619 |
|  | Assessment Area One, 5.25%, 5/01/43 | &nbsp;&nbsp; 180000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180139 |
|  | South Fork East Community Development District, Special Assessment, Refunding, Series 2005, 4.00%, 5/01/31 | &nbsp;&nbsp;1390000 | &nbsp;&nbsp;&nbsp;&nbsp;1369469 |
|  | Southern Groves Community Development District No. 5, |  |  |
|  | Special Assessment, Series 2022, 5.80%, 5/01/42 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520164 |
|  | Special Assessment, Series 2024, 5.45%, 5/01/44 | &nbsp;&nbsp; 345000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348658 |
|  | Springs at Lake Alfred Community Development District, Assessment Area One, Special Assessment, 5.25%, 5/01/44 | &nbsp;&nbsp;365000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;353230 |
|  | St. Augustine Lakes Community Development District, |  |  |
|  | 2022 Project, Special Assessment, 4.70%, 6/15/29 | &nbsp;&nbsp; 440000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445942 |
|  | 2022 Project, Special Assessment, 5.375%, 6/15/42 | &nbsp;&nbsp; 95000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95164 |
| <sup>d</sup> | Stillwater Community Development District, 2021 Project, Special Assessment, 3.00%, 6/15/31 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93155 |
|  | Stonegate Preserve Community Development District, 2025 Project Area, Special Assessment, 5.70%, 6/15/45 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;702821 |
| <sup>d</sup> | Stuart Crossing Community Development District, Assessment Area One Project, Special Assessment, 4.375%, 5/01/31 | &nbsp;&nbsp;170000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171263 |
|  | Summer Woods Community Development District, Assessment Area Three Project, Special Assessment, 3.15%, 5/01/31 | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70726 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | Summit View Community Development District, Assessment Area Two, Special Assessment, 4.75%, 5/01/31 | &nbsp;&nbsp;410000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;414521 |
|  | Sunbridge Stewardship District, Special Assessment, Series 2022, 4.50%, 5/01/27 | &nbsp;&nbsp;135000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135978 |
|  | Tamarindo Community Development District, Special Assessment, Series 2021, 3.00%, 5/01/31 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93288 |
|  | Terreno Community Development District, 2025 Assessment Area, Special Assessment, 5.40%, 5/01/45 | &nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;536958 |
|  | Timber Creek Southwest Community Development District, Special Assessment, Series 2020, 3.00%, 6/15/30 | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142109 |
|  | Tohoqua Community Development District, |  |  |
|  | Phase 2 Project, Special Assessment, 2.875%, 5/01/31 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95284 |
|  | Phase 4A/5A Project, Special Assessment, Series 2021, 2.50%, 5/01/26 | &nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59249 |
|  | Tradition Community Development District No. 9, Special Assessment, Series 2021, 2.70%, 5/01/31 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91950 |
| <sup>d</sup> | Trevesta Community Development District, Assessment Area Two, Special Assessment, 3.25%, 5/01/30 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97275 |
|  | Twisted Oaks Pointe Community Development District, Assessment Area Two Project, Special Assessment, 5.875%, 5/01/43 | &nbsp;&nbsp;170000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171879 |
| <sup>d</sup> | Two Lakes Community Development District, Special Assessment, Series 2017, 4.00%, 12/15/28 | &nbsp;&nbsp;275000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275070 |
| <sup>g</sup> | Two Ridges Community Development District, 2025 Assessment Area Two, Special Assessment, 5.75%, 5/01/45 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501489 |
|  | Two Rivers West Community Development District, |  |  |
|  | Special Assessment, Series 2, 5.25%, 5/01/28 | &nbsp;&nbsp; 245000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249319 |
|  | Special Assessment, Series 2, 5.375%, 5/01/33 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156427 |
|  | Varrea South Community Development District, |  |  |
|  | <sup>d</sup> 2025 Assessment Area, Special Assessment, 4.75%, 5/01/35 | &nbsp;&nbsp; 235000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236407 |
|  | <sup>d</sup> 2025 Assessment Area, Special Assessment, 5.625%, 5/01/45 | &nbsp;&nbsp; 585000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;580545 |
|  | V-Dana Community Development District, |  |  |
|  | Assessment Area One-2021 Project, Special Assessment, Series 2021P, 3.125%, 5/01/31 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94719 |
|  | Assessment Area Two-2025 Project, Special Assessment, 5.375%, 5/01/45 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;482020 |
|  | Venetian Parc Community Development District, Assessment Area Two, Refunding, 5.00%, 5/01/44 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;968277 |
|  | Veranda Community Development District II, |  |  |
|  | Assessment Area 5, Special Assessment, Refunding, 4.50%, 5/01/31 | &nbsp;&nbsp; 320000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;323652 |
|  | <sup>d</sup> Special Assessment, Refunding, 3.10%, 5/01/31 | &nbsp;&nbsp; 70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65625 |
|  | Verano No. 2 Community Development District, Special Assessment, Series 2024, 5.35%, 5/01/44 | &nbsp;&nbsp;565000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;542486 |
|  | Verano No. 4 Community Development District, Astor Creek Phase 2 Assessment Area, Special Assessment, 5.75%, 5/01/45 | &nbsp;&nbsp;165000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165894 |
|  | Viera Stewardship District, Village 2, Special Assessment, Series 2021, 2.80%, 5/01/31 | &nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119440 |
|  | Village Community Development District No. 13, Limited Offering, Special Assessment, Series 2019, 3.00%, 5/01/29 | &nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77450 |
|  | Village Community Development District No. 5, |  |  |
|  | Refunding, Special Assessment, 4.00%, 5/01/33 | &nbsp;&nbsp; 1065000 | &nbsp;&nbsp;&nbsp;&nbsp;1042845 |
|  | Refunding, Special Assessment, 4.00%, 5/01/34 | &nbsp;&nbsp; 1535000 | &nbsp;&nbsp;&nbsp;&nbsp;1489786 |
|  | Villamar Community Development District, |  |  |
|  | Assessment Area Five Project, Special Assessment, 5.625%, 5/01/43 | &nbsp;&nbsp; 190000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192363 |
|  | Assessment Area Six Project, Special Assessment, 4.625%, 5/01/31 | &nbsp;&nbsp; 185000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187604 |
|  | Waterford Community Development District, Assessment Area Two, Special Assessment, 5.20%, 5/01/44 | &nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;614362 |
|  | Waterset South Community Development District, |  |  |
|  | Special Assessment, Series 2022, 5.375%, 5/01/32 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103935 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Waterset South Community Development District, Series 2022, Special Assessment, 5.90%, 5/01/42 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256435 |
| <sup>d</sup> | Wellness Ridge Community Development District, Assessment Area Two, Special Assessment, 5.00%, 6/15/44 | &nbsp;&nbsp;355000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335582 |
|  | West Villages Improvement District, |  |  |
|  | Unit of Development No. 12, Assessment Area One, Special Assessment, 5.75%, 5/01/45 | &nbsp;&nbsp; 410000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416152 |
|  | Unit of Development No. 7, Special Assessment, 3.125%, 5/01/31 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93828 |
|  | Unit of Development No. 8, Special Assessment, 4.625%, 5/01/29 | &nbsp;&nbsp; 265000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268657 |
|  | Unit of Development No. 8, Special Assessment, 5.375%, 5/01/42 | &nbsp;&nbsp; 135000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136128 |
|  | Willowbrook Community Development District, Special Assessment, Assessment Area One Project, 4.95%, 5/01/31 | &nbsp;&nbsp;205000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206671 |
|  | Winding Oaks Community Development District, Assessment Area One, Special Assessment, 5.40%, 5/01/44 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480153 |
|  | Windsor Cay Community Development District, Assessment Area One Project, Special Assessment, 4.60%, 5/01/31 | &nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223846 |
|  | Windward Community Development District, Special Assessment, Series 2020A-1, 3.65%, 5/01/30 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97387 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | Wiregrass II Community Development District, Assessment Area Two, Special Assessment, 4.50%, 5/01/27 | &nbsp;&nbsp;165000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165725 |
|  | Woodcreek Community Development District, Assessment Area Two, Special Assessment, 5.35%, 5/01/45 | &nbsp;&nbsp;575000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;543477 |
| <sup>d</sup> | Woodland Preserve Community Development District, Assessment Area One, Special Assessment, 5.30%, 5/01/45 | &nbsp;&nbsp;630000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;604660 |
|  | Woodland Ranch Estates Community Development District, Woodland Ranch Estates Community Development District, Series 2025, Special Assessment, 5.55%, 5/01/45 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;484263 |
|  | Yarborough Lane Community Development District, |  |  |
|  | Special Assessment, Series 2024, 4.75%, 5/01/31 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250768 |
|  | Special Assessment, Series 2024, 5.35%, 5/01/44 | &nbsp;&nbsp; 245000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233102 |
|  |  |  | &nbsp;&nbsp;&nbsp;84612467 |
|  | **Georgia 1.7%** |  |  |
|  | DeKalb County Housing Authority, HADC Avenues LLC, Refunding, 4.125%, 12/01/34 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;1951566 |
|  | Development Authority of Rockdale County, Refunding, 5.375%, 12/01/36 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201064 |
| <sup>d</sup> | George L Smith II Congress Center Authority, Signia Hotel Management LLC, 3.625%, 1/01/31 | &nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334401 |
|  | Georgia Housing & Finance Authority, Series C, 5.05%, 12/01/45 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;2006295 |
|  | Main Street Natural Gas, Inc., |  |  |
|  | <sup>c</sup> VRDN, Series A, 5.00%, 6/01/53 | &nbsp;&nbsp; 3175000 | &nbsp;&nbsp;&nbsp;&nbsp;3329668 |
|  | <sup>c</sup> VRDN, Series B, 5.00%, 12/01/54 | &nbsp;&nbsp; 1475000 | &nbsp;&nbsp;&nbsp;&nbsp;1559629 |
|  | <sup>c</sup> VRDN, Series E, 5.00%, 12/01/53 | &nbsp;&nbsp; 1415000 | &nbsp;&nbsp;&nbsp;&nbsp;1491648 |
|  | <sup>c</sup> VRDN, Series E-2, 1 day USD SOFR + 1.70%, 4.641%, 12/01/53 | &nbsp;&nbsp; 1280000 | &nbsp;&nbsp;&nbsp;&nbsp;1286858 |
|  |  |  | &nbsp;&nbsp;&nbsp;12161129 |
|  | **Idaho 0.1%** |  |  |
|  | Idaho Housing & Finance Association, |  |  |
|  | <sup>d</sup> College of Idaho Inc, Refunding, 5.00%, 11/01/25 | &nbsp;&nbsp; 380000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380895 |
|  | White Pine Charter School Project, 5.25%, 5/01/38 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310665 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;691560 |
|  | **Illinois 11.3%** |  |  |
|  | Chicago Board of Education, |  |  |
|  | Chicago Board of Education, Refunding, Series A, 5.50%, 12/01/26 | &nbsp;&nbsp; 2390000 | &nbsp;&nbsp;&nbsp;&nbsp;2426266 |
|  | <sup>f</sup> Refunding, Series A, 12/01/25 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;491745 |
|  | Series A, 5.00%, 12/01/38 | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp;&nbsp;&nbsp;2095164 |
|  | Series A, 5.00%, 12/01/40 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp;1471275 |
|  | Series A, 5.00%, 12/01/41 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483591 |
|  | Series A, 5.50%, 12/01/31 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;2137370 |
|  | Chicago Board of Education Dedicated Capital Improvement Tax, |  |  |
|  | 5.00%, 4/01/38 | &nbsp;&nbsp; 2300000 | &nbsp;&nbsp;&nbsp;&nbsp;2384589 |
|  | 5.00%, 4/01/45 | &nbsp;&nbsp; 1220000 | &nbsp;&nbsp;&nbsp;&nbsp;1202751 |
|  | 5.25%, 4/01/34 | &nbsp;&nbsp; 950000 | &nbsp;&nbsp;&nbsp;&nbsp;1034101 |
|  | 5.25%, 4/01/37 | &nbsp;&nbsp; 650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;690739 |
|  | 5.25%, 4/01/39 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;1044965 |
|  | 5.75%, 4/01/48 | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp;&nbsp;&nbsp;7244478 |
|  | Chicago Midway International Airport, |  |  |
|  | AMT, Refunding, Series A, 5.50%, 1/01/38 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;815286 |
|  | AMT, Refunding, Series C, 5.00%, 1/01/40 | &nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40596 |
|  | AMT, Refunding, Series C, 5.00%, 1/01/41 | &nbsp;&nbsp; 1750000 | &nbsp;&nbsp;&nbsp;&nbsp;1757202 |
|  | Chicago O'Hare International Airport, |  |  |
|  | TrIPs Obligated Group, AMT, 5.50%, 7/01/39 | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp;&nbsp;&nbsp;1499624 |
|  | TrIPs Obligated Group, AMT, 5.50%, 7/01/40 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;1064511 |
|  | City of Chicago, |  |  |
|  | Refunding, Series A, 5.00%, 1/01/33 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416268 |
|  | Refunding, Series A, 5.00%, 1/01/34 | &nbsp;&nbsp; 1690000 | &nbsp;&nbsp;&nbsp;&nbsp;1749626 |
|  | Refunding, Series B, 4.00%, 1/01/37 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp;&nbsp;3699640 |
|  | Series A, 5.50%, 1/01/39 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp;&nbsp;&nbsp;1286875 |
|  | Series A, 5.50%, 1/01/40 | &nbsp;&nbsp; 8495000 | &nbsp;&nbsp;&nbsp;&nbsp;8711906 |
|  | Series C, 6.00%, 1/01/43 | &nbsp;&nbsp; 2250000 | &nbsp;&nbsp;&nbsp;&nbsp;2373752 |
|  | Series F, 6.00%, 1/01/43 | &nbsp;&nbsp; 1565000 | &nbsp;&nbsp;&nbsp;&nbsp;1653473 |
|  | Illinois Finance Authority, |  |  |
|  | <sup>d</sup> Acero Charter Schools, Inc. Obligated Group, Refunding, 4.00%, 10/01/31 | &nbsp;&nbsp; 980000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;956820 |
|  | <sup>b,d</sup> Centerpoint Joliet Terminal Railroad LLC, AMT, 4.80%, 12/01/43 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp;1519769 |
|  | Chicago School - California Inc, 5.25%, 4/01/41 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177435 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | Chicago School - California, Inc., 5.25%, 4/01/44 | &nbsp;&nbsp; 1070000 | &nbsp;&nbsp;&nbsp;&nbsp;1068656 |
|  | <sup>c</sup> Field Museum of Natural History, Refunding, VRDN, 1 day USD SOFR + 1.20%, 4.273%, 11/01/34 | &nbsp;&nbsp; 380000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;379776 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Lawndale Educational & Regional Network Charter School Obligated Group, Refunding, 4.00%, 11/01/30 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253910 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Lawndale Educational & Regional Network Charter School Obligated Group, Refunding, 4.00%, 11/01/31 | &nbsp;&nbsp; 255000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258093 |
|  | <sup>c</sup> OSF Healthcare System Obligated Group, VRDN, Refunding, 5.00%, 5/15/50 | &nbsp;&nbsp; 1055000 | &nbsp;&nbsp;&nbsp;&nbsp;1068835 |
|  | <sup>d</sup> Rosalind Franklin University of Medicine and Science, 5.25%, 8/01/35 | &nbsp;&nbsp; 2900000 | &nbsp;&nbsp;&nbsp;&nbsp;2889856 |
|  | The Chicago School, 5.00%, 4/01/35 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211588 |
|  | The Chicago School, 5.25%, 4/01/37 | &nbsp;&nbsp; 130000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137632 |
|  | The Chicago School, 5.25%, 4/01/38 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;1047380 |
|  | Westminster Village Inc Obligated Group, Series A, Refunding, 5.25%, 5/01/38 | &nbsp;&nbsp; 1185000 | &nbsp;&nbsp;&nbsp;&nbsp;1141386 |
|  | Illinois Housing Development Authority, Circle Park Preservation LP, Refunding, Series H-1, 4.00%, 1/01/42 | &nbsp;&nbsp;2560000 | &nbsp;&nbsp;&nbsp;&nbsp;2367898 |
|  | Metropolitan Pier & Exposition Authority, |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;State of Illinois McCormick Place Expansion Project Fund, Refunding, Series A, 4.00%, 12/15/42 | &nbsp;&nbsp; 390000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349451 |
|  | State of Illinois McCormick Place Expansion Project Fund, Refunding, Series B, 5.00%, 6/15/53 | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp;&nbsp;&nbsp;3394100 |
|  | <sup>f</sup> State of Illinois McCormick Place Expansion Project Fund, Series A, 12/15/30 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245589 |
|  | Northern Illinois University, |  |  |
|  | 4.25%, 4/01/44 | &nbsp;&nbsp; 1260000 | &nbsp;&nbsp;&nbsp;&nbsp;1134432 |
|  | 5.50%, 4/01/49 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;2062281 |
|  | State of Illinois, |  |  |
|  | Series 1, 6.00%, 11/01/26 | &nbsp;&nbsp; 660000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;670793 |
|  | Series A, 4.00%, 3/01/41 | &nbsp;&nbsp; 1015000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;905922 |
|  | Series A, 5.00%, 3/01/46 | &nbsp;&nbsp; 2405000 | &nbsp;&nbsp;&nbsp;&nbsp;2388666 |
|  | Series B, 5.25%, 5/01/47 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;3030398 |
|  | Series B, 5.25%, 5/01/48 | &nbsp;&nbsp; 3020000 | &nbsp;&nbsp;&nbsp;&nbsp;3044061 |
|  | Series C, 5.25%, 10/01/47 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;2008327 |
| <sup>d</sup> | Village of Lincolnwood Il, North Lincoln Redevelopment Project Area, Series A, 4.82%, 1/01/41 | &nbsp;&nbsp;1535000 | &nbsp;&nbsp;&nbsp;&nbsp;1471435 |
| <sup>b</sup> | Village of Villa Park, Garden Station Redevelopment Area, 4.50%, 12/31/38 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82520 |
|  |  |  | &nbsp;&nbsp;&nbsp;82042802 |
|  | **Indiana 1.1%** |  |  |
| <sup>d</sup> | City of Goshen, Green Oaks Of Goshen LLC, Refunding, Series A, 5.00%, 8/01/41 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;827188 |
| <sup>d</sup> | City of Jeffersonville, Vivera Senior Living of Columbus LLC, Series 2020A, 4.75%, 11/01/30 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95660 |
| <sup>d</sup> | City of Valparaiso, Green Oaks of Valparaiso LLC, 5.375%, 12/01/41 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;437246 |
|  | Indiana Finance Authority, |  |  |
|  | Indiana Masonic Home Inc Obligated Group, Series B, 5.00%, 5/01/40 | &nbsp;&nbsp; 1625000 | &nbsp;&nbsp;&nbsp;&nbsp;1613993 |
|  | Ohio Valley Electric Corp, Series 2012C, 3.00%, 11/01/30 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145922 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Retirement Living Inc Obligated Group, Marquette Project, Refunding, Series A, 5.125%, 3/01/45 | &nbsp;&nbsp; 3205000 | &nbsp;&nbsp;&nbsp;&nbsp;3133299 |
|  | University of Evansville, 7.00%, 9/01/32 | &nbsp;&nbsp; 170000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165261 |
| <sup>d</sup> | Indiana Housing & Community Development Authority, Vita of Marion LLC, Series 2021A, 5.00%, 4/01/31 | &nbsp;&nbsp;677500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;647279 |
|  | Indianapolis Local Public Improvement Bond Bank, Convention Center Hotel, 5.50%, 3/01/38 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;1056882 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;8122730 |
|  | **Iowa 1.4%** |  |  |
|  | Crawford County Memorial Hospital, Inc., 5.00%, 6/15/27 | &nbsp;&nbsp;515000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;521434 |
|  | Iowa Finance Authority, |  |  |
|  | Altru Health System Obligated Group, Refunding, Series B, 6.60%, 5/15/28 | &nbsp;&nbsp; 120000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126335 |
|  | <sup>c</sup> Iowa Fertilizer Co LLC, VRDN, Refunding, 5.00%, 12/01/50 | &nbsp;&nbsp; 2425000 | &nbsp;&nbsp;&nbsp;&nbsp;2750268 |
|  | Lifespace Communities Inc Obligated Group, Refunding, 6.75%, 5/15/33 | &nbsp;&nbsp; 770000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;864549 |
|  | Lifespace Communities Inc Obligated Group, Refunding, Series B, 7.25%, 5/15/38 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;561195 |
|  | Lifespace Communities Inc Obligated Group, Series A, 4.125%, 5/15/38 | &nbsp;&nbsp; 420000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;393269 |
|  | Lifespace Communities Inc Obligated Group, Series A, 5.00%, 5/15/32 | &nbsp;&nbsp; 590000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;593803 |
|  | Lifespace Communities Inc Obligated Group, Series A, 5.00%, 5/15/41 | &nbsp;&nbsp; 1060000 | &nbsp;&nbsp;&nbsp;&nbsp;1048113 |
|  | <sup>c</sup> Lifespace Communities Inc Obligated Group, VRDN, Series B, 1 day USD SOFR + 0.55%, 3.63%, 5/15/56 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485175 |
|  | Lifespace Communities, Inc., Series A, 5.00%, 5/15/43 | &nbsp;&nbsp; 295000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285825 |
|  | Iowa Higher Education Loan Authority, University of Dubuque Project, 5.00%, 10/01/45 | &nbsp;&nbsp;2950000 | &nbsp;&nbsp;&nbsp;&nbsp;2778377 |
|  |  |  | &nbsp;&nbsp;&nbsp;10408343 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Kansas 0.1%** |  |  |
|  | Wyandotte County-Kansas City Unified Government, Legends Apartments Garage & West Law, 4.50%, 6/01/40 | &nbsp;&nbsp;685000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;651001 |
|  | **Kentucky 0.6%** |  |  |
| <sup>c</sup> | City of Berea, Berea College, VRDN, Series A, 3.95%, 6/01/32 | &nbsp;&nbsp;645000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;645000 |
|  | Kentucky Public Energy Authority, |  |  |
|  | <sup>c</sup> Kentucky Public Energy Authority, VRDN, Series A-2, 1 day USD SOFR + 1.20%, 4.141%, 8/01/52 | &nbsp;&nbsp; 1285000 | &nbsp;&nbsp;&nbsp;&nbsp;1280970 |
|  | <sup>c</sup> Refunding, VRDN, Series B, 5.00%, 1/01/55 | &nbsp;&nbsp; 2160000 | &nbsp;&nbsp;&nbsp;&nbsp;2283460 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;4209430 |
|  | **Louisiana 0.4%** |  |  |
|  | Lakeshore Villages Master Community Development District, Special Assessment, Series 2022, 5.00%, 6/01/32 | &nbsp;&nbsp;245000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248050 |
|  | Louisiana Local Government Environmental Facilities & Community Development Authority, |  |  |
|  | <sup>d</sup> Parish of St John the Baptist LA, 3.90%, 11/01/44 | &nbsp;&nbsp; 160000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136220 |
|  | Westlake Corp, Refunding, 3.50%, 11/01/32 | &nbsp;&nbsp; 1625000 | &nbsp;&nbsp;&nbsp;&nbsp;1565141 |
|  | New Orleans Aviation Board, AMT, Refunding, Series A, 5.00%, 1/01/38 | &nbsp;&nbsp;1020000 | &nbsp;&nbsp;&nbsp;&nbsp;1060950 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;3010361 |
|  | **Maine 0.1%** |  |  |
|  | Maine State Housing Authority, Series D, 4.50%, 11/15/44 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;961382 |
|  | **Maryland 0.4%** |  |  |
|  | City of Baltimore, |  |  |
|  | <sup>d</sup> Harbor Point Special Taxing District, Refunding, 3.25%, 6/01/31 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95515 |
|  | Harbor Point Special Taxing District, Refunding, 4.25%, 6/01/26 | &nbsp;&nbsp; 135000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135012 |
|  | County of Frederick, Oakdale-Lake Linganore Development District, Refunding, 3.25%, 7/01/29 | &nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134438 |
|  | Maryland Economic Development Corp., |  |  |
|  | Purple Line Transit Partners LLC, AMT, Series B, 5.00%, 6/30/36 | &nbsp;&nbsp; 645000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;665770 |
|  | Purple Line Transit Partners LLC, AMT, Series B, 5.00%, 12/31/36 | &nbsp;&nbsp; 425000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;436829 |
|  | Purple Line Transit Partners LLC, AMT, Series B, 5.00%, 12/31/38 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253410 |
|  | Purple Line Transit Partners LLC, AMT, Series B, 5.00%, 6/30/39 | &nbsp;&nbsp; 540000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;544638 |
| <sup>d</sup> | Town of La Plata MD, Heritage Green Special Taxing District, 5.75%, 2/15/35 | &nbsp;&nbsp;680000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;673630 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;2939242 |
|  | **Massachusetts 0.7%** |  |  |
|  | Massachusetts Development Finance Agency, |  |  |
|  | <sup>d</sup> CHF Merrimack Inc, Series A, 5.00%, 7/01/44 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;951693 |
|  | Foxborough Regional Charter School, Refunding, 5.00%, 7/01/27 | &nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60504 |
|  | Lasell Village Inc, 5.25%, 7/01/45 | &nbsp;&nbsp; 1140000 | &nbsp;&nbsp;&nbsp;&nbsp;1143649 |
|  | Salem Community Corp Obligated Group, Refunding, 5.00%, 1/01/28 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203135 |
|  | Seven Hills Foundation Obligated Group, Refunding, 6.00%, 9/01/45 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;419594 |
|  | Massachusetts Educational Financing Authority, AMT, Series B, 4.25%, 7/01/44 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;491828 |
| <sup>c</sup> | Massachusetts Health & Educational Facilities Authority, Massachusetts Institute of Technology, VRDN, 2.70%, 7/01/31 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;2000000 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;5270403 |
|  | **Michigan 1.0%** |  |  |
|  | City of Detroit, Series C, 6.00%, 5/01/43 | &nbsp;&nbsp;375000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;404912 |
|  | Detroit Downtown Development Authority, Catalyst Development Area, Refunding, 5.00%, 7/01/48 | &nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;1512852 |
|  | Grand Rapids Economic Development Corp., |  |  |
|  | Michigan Christian Home Obligated Group, Refunding, 4.00%, 11/01/27 | &nbsp;&nbsp; 220000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215411 |
|  | Michigan Christian Home Obligated Group, Refunding, Series A, 4.25%, 11/01/38 | &nbsp;&nbsp; 45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38532 |
|  | Kalamazoo Economic Development Corp., |  |  |
|  | <sup>d</sup> Friendship Village of Kalamazoo Obligated Group, Refunding, 5.00%, 8/15/31 | &nbsp;&nbsp; 110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107821 |
|  | Heritage Community of Kalamazoo Obligated Group, Series A, 5.00%, 5/15/43 | &nbsp;&nbsp; 1120000 | &nbsp;&nbsp;&nbsp;&nbsp;1031548 |
|  | Michigan Finance Authority, |  |  |
|  | Lawrence Technological University Obligated Group, Refunding, 4.00%, 2/01/27 | &nbsp;&nbsp; 95000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94642 |
|  | Lawrence Technological University Obligated Group, Refunding, 4.00%, 2/01/32 | &nbsp;&nbsp; 285000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278114 |
|  | Provident Group - HFH Energy LLC, 4.125%, 2/29/44 | &nbsp;&nbsp; 1510000 | &nbsp;&nbsp;&nbsp;&nbsp;1388033 |
|  | University of Detroit Mercy Obligated Group, Refunding, 5.25%, 11/01/35 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;833620 |
|  | University of Detroit Mercy Obligated Group, Refunding, 5.25%, 11/01/39 | &nbsp;&nbsp; 590000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;597462 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | Michigan Strategic Fund, |  |  |
|  | I-75 Improvement Project, AMT, 5.00%, 12/31/33 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51080 |
|  | Improvement Project-P3, AMT, 4.125%, 6/30/35 | &nbsp;&nbsp; 670000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;666858 |
|  | State of Michigan Department of Transportation, AMT, 5.00%, 6/30/48 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96928 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;7317813 |
|  | **Minnesota 2.3%** |  |  |
|  | City of Ramsey, PACT Charter School, Refunding, Series A, 5.00%, 6/01/32 | &nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;2923210 |
| <sup>c</sup> | City of Rochester, Mayo Clinic, VRDN, Series D, 3.35%, 11/15/64 | &nbsp;&nbsp;5800000 | &nbsp;&nbsp;&nbsp;&nbsp;5800000 |
|  | Duluth Economic Development Authority, Benedictine Health System Obligated Group, Refunding, 4.00%, 7/01/31 | &nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118841 |
|  | Minneapolis-St. Paul Metropolitan Airports Commission, AMT, Series B, 5.25%, 1/01/49 | &nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;6101178 |
| <sup>c</sup> | Minnesota Municipal Gas Agency, VRDN, Series B, 1 day USD SOFR + 1.00%, 3.948%, 12/01/52 | &nbsp;&nbsp;1400000 | &nbsp;&nbsp;&nbsp;&nbsp;1398125 |
|  |  |  | &nbsp;&nbsp;&nbsp;16341354 |
|  | **Mississippi 0.2%** |  |  |
| <sup>d</sup> | Mississippi Development Bank, Magnolia Regional Health Center, Refunding, 5.00%, 10/01/31 | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154004 |
|  | Mississippi Home Corp., Series C, 4.65%, 12/01/44 | &nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;1471985 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;1625989 |
|  | **Missouri 1.7%** |  |  |
|  | Health & Educational Facilities Authority of the State of Missouri, |  |  |
|  | <sup>c</sup> SSM Health Care Obligated Group, VRDN, Series F, 3.90%, 6/01/44 | &nbsp;&nbsp;10900000 | 10900000 |
|  | <sup>c</sup> St Louis University/US, VRDN, Refunding, Series B-1, 3.85%, 10/01/35 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp;1500000 |
|  | University of Health Sciences & Pharmacy in St Louis, Refunding, Series A, 4.00%, 5/01/37 | &nbsp;&nbsp; 290000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243724 |
|  |  |  | &nbsp;&nbsp;&nbsp;12643724 |
|  | **Nevada 0.7%** |  |  |
|  | City of Las Vegas, Special Improvement District No. 815, Special Assessment, 4.75%, 12/01/40 | &nbsp;&nbsp;950000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;911676 |
|  | City of Las Vegas Special Improvement District No. 611, Special Improvement District No. 611, Special Assessment, 3.50%, 6/01/31 | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138875 |
|  | City of Las Vegas Special Improvement District No. 816, Special Assessment, 2.50%, 6/01/29 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184337 |
| <sup>d</sup> | City of North Las Vegas, NV Special Improvement District No. 66, Special Assessment, 5.00%, 6/01/28 | &nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142567 |
|  | Reno-Tahoe Airport Authority, |  |  |
|  | AMT, Series A, 5.25%, 7/01/44 | &nbsp;&nbsp; 745000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;764891 |
|  | Reno-Tahoe Airport Authority, AMT, Series A, 5.25%, 7/01/42 | &nbsp;&nbsp; 655000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;679613 |
|  | Reno-Tahoe Airport Authority, AMT, Series A, 5.25%, 7/01/43 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;1031748 |
|  | Tahoe-Douglas Visitors Authority, |  |  |
|  | 4.00%, 7/01/26 | &nbsp;&nbsp; 770000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;773936 |
|  | 5.00%, 7/01/31 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265538 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;4893181 |
|  | **New Jersey 0.8%** |  |  |
|  | New Jersey Economic Development Authority, |  |  |
|  | <sup>c</sup> American Water Co Inc, AMT, Refunding, VRDN, 2.20%, 10/01/39 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90636 |
|  | Provident Group-Kean Properties LLC, 5.00%, 7/01/32 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100491 |
|  | Provident Group-Kean Properties LLC, 5.00%, 7/01/37 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48796 |
|  | United Airlines Inc, 5.25%, 9/15/29 | &nbsp;&nbsp; 215000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215075 |
|  | New Jersey Higher Education Student Assistance Authority, |  |  |
|  | <sup>g</sup> AMT, Refunding, Series 3, 5.00%, 12/01/35 | &nbsp;&nbsp; 3100000 | &nbsp;&nbsp;&nbsp;&nbsp;3178297 |
|  | AMT, Series B, 4.00%, 12/01/44 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;931419 |
|  | New Jersey Transportation Trust Fund Authority, State of New Jersey, Refunding, Series A, 4.25%, 6/15/40 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;968268 |
|  | Passaic County Improvement Authority, Series 2024A, 5.00%, 1/01/34 | &nbsp;&nbsp;280000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286680 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;5819662 |
|  | **New Mexico 0.7%** |  |  |
|  | New Mexico Hospital Equipment Loan Council, |  |  |
|  | <sup>c</sup> Presbyterian Healthcare Services Obligated Group, Refunding, VRDN, Series B, 4.00%, 8/01/34 | &nbsp;&nbsp; 3850000 | &nbsp;&nbsp;&nbsp;&nbsp;3850000 |
|  | San Juan Regional Medical Center Inc, Refunding, 4.00%, 6/01/33 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;982399 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;4832399 |
|  | **New York 7.2%** |  |  |
|  | Build NYC Resource Corp., TrIPs Obligated Group, AMT, 5.50%, 7/01/42 | &nbsp;&nbsp;1135000 | &nbsp;&nbsp;&nbsp;&nbsp;1194530 |
|  | Metropolitan Transportation Authority, Series C, 5.00%, 11/15/50 | &nbsp;&nbsp;4460000 | &nbsp;&nbsp;&nbsp;&nbsp;4422590 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | New York City Housing Development Corp., 8 Spruce NY Owner LLC, Refunding, Series E, 4.375%, 12/15/31 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255829 |
| <sup>c</sup> | New York City Municipal Water Finance Authority, Refunding, VRDN, 3.90%, 6/15/33 | &nbsp;&nbsp;9100000 | &nbsp;&nbsp;&nbsp;&nbsp;9100000 |
|  | New York State Dormitory Authority, St Joseph's College, 5.00%, 7/01/30 | &nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65656 |
| <sup>c,d</sup> | New York State Environmental Facilities Corp., Casella Waste Systems Inc, AMT, VRDN, 5.125%, 9/01/50 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257336 |
|  | New York Transportation Development Corp., |  |  |
|  | American Airlines Inc, AMT, Refunding, 2.25%, 8/01/26 | &nbsp;&nbsp; 60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59067 |
|  | American Airlines Inc, AMT, Refunding, 3.00%, 8/01/31 | &nbsp;&nbsp; 210000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193138 |
|  | American Airlines Inc, AMT, Refunding, 5.25%, 8/01/31 | &nbsp;&nbsp; 70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71590 |
|  | Delta Air Lines Inc, AMT, 4.00%, 1/01/36 | &nbsp;&nbsp; 1490000 | &nbsp;&nbsp;&nbsp;&nbsp;1398685 |
|  | Delta Air Lines Inc, AMT, 5.00%, 10/01/40 | &nbsp;&nbsp; 7265000 | &nbsp;&nbsp;&nbsp;&nbsp;7233766 |
|  | Delta Air Lines Inc, AMT, 5.625%, 4/01/40 | &nbsp;&nbsp; 2140000 | &nbsp;&nbsp;&nbsp;&nbsp;2200561 |
|  | Delta Air Lines Inc, AMT, 6.00%, 4/01/35 | &nbsp;&nbsp; 1790000 | &nbsp;&nbsp;&nbsp;&nbsp;1948178 |
|  | JFK International Air Terminal LLC, AMT, 5.00%, 12/01/40 | &nbsp;&nbsp; 905000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;910833 |
|  | JFK International Air Terminal LLC, AMT, 5.00%, 12/01/41 | &nbsp;&nbsp; 2995000 | &nbsp;&nbsp;&nbsp;&nbsp;2988185 |
|  | JFK International Air Terminal LLC, AMT, 5.00%, 12/01/42 | &nbsp;&nbsp; 215000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211738 |
|  | JFK International Air Terminal LLC, AMT, Refunding, 5.00%, 12/01/36 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258579 |
|  | JFK International Air Terminal LLC, AMT, Refunding, 5.00%, 12/01/37 | &nbsp;&nbsp; 1030000 | &nbsp;&nbsp;&nbsp;&nbsp;1056539 |
|  | JFK International Air Terminal LLC, AMT, Refunding, 5.00%, 12/01/39 | &nbsp;&nbsp; 330000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;333444 |
|  | JFK International Air Terminal LLC, AMT, Refunding, Series A, 4.00%, 12/01/39 | &nbsp;&nbsp; 2685000 | &nbsp;&nbsp;&nbsp;&nbsp;2406226 |
|  | JFK International Air Terminal LLC, AMT, Refunding, Series A, 4.00%, 12/01/40 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442507 |
|  | JFK International Air Terminal LLC, AMT, Refunding, Series A, 4.00%, 12/01/41 | &nbsp;&nbsp; 1380000 | &nbsp;&nbsp;&nbsp;&nbsp;1209698 |
|  | JFK International Air Terminal LLC, AMT, Refunding, Series A, 5.00%, 12/01/36 | &nbsp;&nbsp; 425000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;436104 |
|  | JFK International Air Terminal LLC, AMT, Refunding, Series A, 5.00%, 12/01/37 | &nbsp;&nbsp; 610000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;621979 |
|  | JFK NTO LLC, AMT, 5.25%, 6/30/43 | &nbsp;&nbsp; 4930000 | &nbsp;&nbsp;&nbsp;&nbsp;4964798 |
|  | JFK NTO LLC, AMT, 5.50%, 6/30/38 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263651 |
|  | JFK NTO LLC, AMT, Refunding, 4.25%, 6/30/42 | &nbsp;&nbsp; 4445000 | &nbsp;&nbsp;&nbsp;&nbsp;4191529 |
|  | Oneida Indian Nation of New York, |  |  |
|  | <sup>d</sup> Oneida Indian Nation of New York, Series A, 8.00%, 9/01/40 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp;&nbsp;&nbsp;2527934 |
|  | <sup>d</sup> Series B, 6.00%, 9/01/43 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263243 |
|  | Suffolk Regional Off-Track Betting Corp., 5.75%, 12/01/44 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;1022607 |
|  |  |  | &nbsp;&nbsp;&nbsp;52510520 |
|  | **North Carolina 0.1%** |  |  |
|  | North Carolina Medical Care Commission, |  |  |
|  | Penick Village Obligated Group, Refunding, Series B, 4.75%, 9/01/29 | &nbsp;&nbsp; 405000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405065 |
|  | United Methodist Retirement Homes Inc Obligated Group, 4.25%, 10/01/28 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350205 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;755270 |
|  | **North Dakota 1.5%** |  |  |
|  | City of Grand Forks, |  |  |
|  | Altru Health System Obligated Group, Refunding, 4.00%, 12/01/38 | &nbsp;&nbsp; 2300000 | &nbsp;&nbsp;&nbsp;&nbsp;2089844 |
|  | Altru Health System Obligated Group, Refunding, 4.00%, 12/01/41 | &nbsp;&nbsp; 1875000 | &nbsp;&nbsp;&nbsp;&nbsp;1621012 |
|  | Altru Health System Obligated Group, Refunding, 5.00%, 12/01/31 | &nbsp;&nbsp; 1385000 | &nbsp;&nbsp;&nbsp;&nbsp;1464241 |
|  | Altru Health System Obligated Group, Refunding, 5.00%, 12/01/33 | &nbsp;&nbsp; 130000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135576 |
|  | City of Horace, Refunding, Series B, 4.85%, 8/01/26 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;1000450 |
|  | County of Burleigh, University of Mary, 5.10%, 4/15/36 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245686 |
|  | North Dakota Housing Finance Agency, |  |  |
|  | Series A, 4.50%, 7/01/37 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;1001783 |
|  | Series C, 4.65%, 7/01/44 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;996247 |
|  | Series D, 4.50%, 7/01/44 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;1923345 |
|  |  |  | &nbsp;&nbsp;&nbsp;10478184 |
|  | **Ohio 2.5%** |  |  |
|  | Akron Bath Copley Joint Township Hospital District, |  |  |
|  | Summa Health System Obligated Group, Refunding, 4.00%, 11/15/33 | &nbsp;&nbsp; 550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;551182 |
|  | Summa Health System Obligated Group, Refunding, 4.00%, 11/15/34 | &nbsp;&nbsp; 130000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129768 |
|  | Columbus Metropolitan Housing Authority, |  |  |
|  | 4.00%, 12/01/34 | &nbsp;&nbsp; 1910000 | &nbsp;&nbsp;&nbsp;&nbsp;1896315 |
|  | Cobblestone Manor Project, 4.625%, 8/01/42 | &nbsp;&nbsp; 2220000 | &nbsp;&nbsp;&nbsp;&nbsp;2147946 |
|  | Series A, 5.00%, 4/01/35 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp;5164828 |
|  | Waldren Woods project, 4.00%, 6/01/34 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486028 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | County of Cuyahoga, Eliza Jennings Obligated Group, Refunding, 5.00%, 5/15/32 | &nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;448328 |
|  | County of Franklin, |  |  |
|  | Ohio Living Obligated Group, Refunding, 4.00%, 7/01/33 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192528 |
|  | Ohio Living Obligated Group, Series B, 4.00%, 7/01/28 | &nbsp;&nbsp; 225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224993 |
|  | Wesley Communities Obligated Group, Refunding, 5.00%, 11/15/30 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101510 |
| <sup>c</sup> | County of Hamilton, TriHealth Obligated Group, VRDN, Refunding, Series B, 4.05%, 8/15/51 | &nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 |
|  | Franklin County Convention Facilities Authority, Hotel Project Revenue, 5.00%, 12/01/30 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102899 |
| <sup>c</sup> | Ohio Air Quality Development Authority, Duke Energy Corp, AMT, Refunding, VRDN, 4.25%, 11/01/39 | &nbsp;&nbsp;3220000 | &nbsp;&nbsp;&nbsp;&nbsp;3254840 |
|  | Ohio Higher Educational Facility Commission, Cleveland Institute of Music/The, 5.00%, 12/01/32 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315009 |
|  | Ohio Housing Finance Agency, Middletown Phase I Project, 8.00%, 8/01/34 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101935 |
|  | State of Ohio, |  |  |
|  | Premier Health Partners Obligated Group, Refunding, 4.00%, 11/15/39 | &nbsp;&nbsp; 1335000 | &nbsp;&nbsp;&nbsp;&nbsp;1217743 |
|  | Premier Health Partners Obligated Group, Refunding, 4.00%, 11/15/40 | &nbsp;&nbsp; 855000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;766152 |
|  | Premier Health Partners Obligated Group, Refunding, 5.00%, 11/15/35 | &nbsp;&nbsp; 1015000 | &nbsp;&nbsp;&nbsp;&nbsp;1049664 |
|  |  |  | &nbsp;&nbsp;&nbsp;18351668 |
|  | **Oklahoma 0.2%** |  |  |
|  | Tulsa Municipal Airport Trust Trustees, American Airlines Inc, AMT, Refunding, 6.25%, 12/01/35 | &nbsp;&nbsp;1155000 | &nbsp;&nbsp;&nbsp;&nbsp;1276884 |
|  | **Oregon 1.2%** |  |  |
|  | Oregon State Facilities Authority, |  |  |
|  | <sup>c</sup> PeaceHealth Obligated Group, VRDN, Refunding, Series A, 3.60%, 8/01/34 | &nbsp;&nbsp; 6100000 | &nbsp;&nbsp;&nbsp;&nbsp;6100000 |
|  | <sup>c</sup> PeaceHealth Obligated Group, VRDN, Refunding, Series B, 3.90%, 8/01/34 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp;&nbsp;&nbsp;2500000 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;8600000 |
|  | **Pennsylvania 3.4%** |  |  |
|  | Adams County General Authority, Brethren Home Community Obligated Group/The, Refunding, Series 2024A, 5.00%, 6/01/44 | &nbsp;&nbsp;2350000 | &nbsp;&nbsp;&nbsp;&nbsp;2289993 |
|  | Allegheny County Higher Education Building Authority, Robert Morris University, 5.00%, 10/15/26 | &nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40606 |
|  | Allentown Commercial & Industrial Development Authority, |  |  |
|  | <sup>d</sup> Executive Education Academy Charter School, Refunding, 5.00%, 7/01/40 | &nbsp;&nbsp; 2075000 | &nbsp;&nbsp;&nbsp;&nbsp;2054578 |
|  | <sup>d</sup> Executive Education Academy Charter School, Refunding, 5.00%, 7/01/45 | &nbsp;&nbsp; 490000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;461162 |
|  | Allentown Neighborhood Improvement Zone Development Authority, |  |  |
|  | <sup>d</sup> City Center Project, 5.00%, 5/01/28 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103041 |
|  | <sup>d</sup> City Center Project, 5.25%, 5/01/42 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197950 |
|  | Berks County Municipal Authority, |  |  |
|  | Series A, 8.00%, 6/30/34 | &nbsp;&nbsp; 84000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85822 |
|  | Series A-2A, 6.00%, 6/30/34 | &nbsp;&nbsp; 42000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44479 |
|  | Series A-3, 5.00%, 6/30/39 | &nbsp;&nbsp; 946000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;874128 |
|  | <sup>f</sup> Series B-1, 6/30/44 | &nbsp;&nbsp; 283000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205054 |
|  | Chester County Industrial Development Authority, Avon Grove Charter School, 5.00%, 3/01/27 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;1015007 |
|  | Franklin County Industrial Development Authority, Menno-Haven Inc Obligated Group, Refunding, 5.00%, 12/01/28 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101274 |
| <sup>c</sup> | General Authority of Southcentral Pennsylvania, WellSpan Health Obligated Group, VRDN, Refunding, Series B, 3.70%, 6/01/35 | &nbsp;&nbsp;2400000 | &nbsp;&nbsp;&nbsp;&nbsp;2400000 |
|  | Montgomery County Higher Education & Health Authority, Thomas Jefferson University Obligated Group, Refunding, Series B, 5.00%, 5/01/52 | &nbsp;&nbsp;4635000 | &nbsp;&nbsp;&nbsp;&nbsp;4506161 |
|  | Pennsylvania Economic Development Financing Authority, |  |  |
|  | Philadelphia Water Department, Refunding, 4.00%, 1/01/31 | &nbsp;&nbsp; 485000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;493268 |
|  | <sup>c</sup> Talen Energy Supply LLC, Refunding, VRDN, 5.25%, 12/01/38 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;1006860 |
|  | UPMC Obligated Group, Refunding, Series 2017A, 3.375%, 11/15/33 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146307 |
|  | Pennsylvania Economic Development Financing Authority Parking System Revenue, Refunding, 5.00%, 1/01/26 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;504377 |
|  | Pennsylvania Higher Education Assistance Agency, AMT, Series 1A, 5.00%, 6/01/34 | &nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;1558468 |
|  | Pennsylvania Housing Finance Agency, |  |  |
|  | Series 146A, 4.50%, 10/01/44 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp;1441554 |
|  | Series 148A, 4.625%, 10/01/45 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp;1455402 |
|  | <sup>g</sup> Series 149, 4.625%, 4/01/37 | &nbsp;&nbsp; 3430000 | &nbsp;&nbsp;&nbsp;&nbsp;3450204 |
| <sup>e</sup> | Philadelphia Authority for Industrial Development, Beech International LLC, Series A, 5.625%, 6/15/42 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73000 |
|  | Redevelopment Authority of the City of Philadelphia, Social Bond, Series 2021A, 2.799%, 9/01/33 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438951 |
|  |  |  | &nbsp;&nbsp;&nbsp;24947646 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Puerto Rico 1.2%** |  |  |
|  | Commonwealth of Puerto Rico, |  |  |
|  | Series 2021A1, 4.00%, 7/01/33 | &nbsp;&nbsp; 663628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;647958 |
|  | Series 2021A1, 4.00%, 7/01/35 | &nbsp;&nbsp; 1028772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;991471 |
|  | Series 2021A1, 4.00%, 7/01/37 | &nbsp;&nbsp; 552885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;527306 |
|  | Series 2021A1, 4.00%, 7/01/41 | &nbsp;&nbsp; 722607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;642898 |
|  | Series 2021A1, 5.625%, 7/01/27 | &nbsp;&nbsp; 130932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134774 |
|  | Series 2021A1, 5.625%, 7/01/29 | &nbsp;&nbsp; 744821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;785981 |
|  | Series 2021A1, 5.75%, 7/01/31 | &nbsp;&nbsp; 2289974 | &nbsp;&nbsp;&nbsp;&nbsp;2471532 |
|  | <sup>f</sup> Series A, 7/01/33 | &nbsp;&nbsp; 12391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8581 |
|  | <sup>c,f</sup> VRDN, 11/01/43 | &nbsp;&nbsp; 39833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24547 |
|  | GDB Debt Recovery Authority of Puerto Rico, 7.50%, 8/20/40 | &nbsp;&nbsp;1530997 | &nbsp;&nbsp;&nbsp;&nbsp;1467686 |
|  | Puerto Rico Electric Power Authority, |  |  |
|  | Refunding, 5.25%, 7/01/32 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174117 |
|  | Refunding, Series V, 5.25%, 7/01/27 | &nbsp;&nbsp; 170000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170696 |
|  | Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Authority, |  |  |
|  | Hospital Auxilio Mutuo Obligated Group, Refunding, 4.00%, 7/01/37 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92825 |
|  | Hospital Auxilio Mutuo Obligated Group, Refunding, 4.00%, 7/01/39 | &nbsp;&nbsp; 425000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380433 |
|  | Hospital Auxilio Mutuo Obligated Group, Refunding, 4.00%, 7/01/40 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87945 |
|  | Hospital Auxilio Mutuo Obligated Group, Refunding, 5.00%, 7/01/30 | &nbsp;&nbsp; 105000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110441 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;8719191 |
|  | **Rhode Island 0.2%** |  |  |
|  | Rhode Island Student Loan Authority, AMT, Series A, 5.00%, 12/01/44 | &nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;1470737 |
|  | **South Carolina 0.7%** |  |  |
|  | County of Dorchester, SC Summers Corner Improvement District, Special Assessment, 4.50%, 10/01/33 | &nbsp;&nbsp;415000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;408153 |
| <sup>d</sup> | County of Richland, Village at Sandhill Improvement District, Special Assessment, Refunding, 3.00%, 11/01/26 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97154 |
|  | Patriots Energy Group Financing Agency, |  |  |
|  | <sup>c</sup> VRDN, Refunding, 1 day USD SOFR + 1.90%, 4.821%, 2/01/54 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257564 |
|  | <sup>c</sup> VRDN, Series A1, 5.25%, 10/01/54 | &nbsp;&nbsp; 3830000 | &nbsp;&nbsp;&nbsp;&nbsp;4050292 |
| <sup>d</sup> | South Carolina Jobs-Economic Development Authority, FAH Pelham LLC, Series B, 7.50%, 8/01/47 | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145903 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;4959066 |
|  | **South Dakota 0.4%** |  |  |
|  | South Dakota Housing Development Authority, |  |  |
|  | Refunding, Series C, 4.50%, 11/01/44 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp;1436419 |
|  | Series C, 4.75%, 11/01/40 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp;1504331 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;2940750 |
|  | **Tennessee 2.1%** |  |  |
|  | Chattanooga Health Educational & Housing Facility Board, |  |  |
|  | CommonSpirit Health Obligated Group, Refunding, Series A, 4.00%, 8/01/38 | &nbsp;&nbsp; 1685000 | &nbsp;&nbsp;&nbsp;&nbsp;1602123 |
|  | CommonSpirit Health Obligated Group, Refunding, Series A-1, 4.00%, 8/01/37 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481550 |
|  | Cleveland Housing Authority, |  |  |
|  | <sup>d</sup> Cleveland Forward Phase One LLC, 6.25%, 4/01/41 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286531 |
|  | <sup>d</sup> Cleveland Forward Phase Two LLC, 6.25%, 4/01/41 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95510 |
| <sup>c</sup> | Tennergy Corp., VRDN, Series A, 5.50%, 10/01/53 | &nbsp;&nbsp;5470000 | &nbsp;&nbsp;&nbsp;&nbsp;5743688 |
| <sup>c</sup> | Tennessee Energy Acquisition Corp., VRDN, Series A, 5.00%, 5/01/52 | &nbsp;&nbsp;6300000 | &nbsp;&nbsp;&nbsp;&nbsp;6640585 |
|  |  |  | &nbsp;&nbsp;&nbsp;14849987 |
|  | **Texas 14.7%** |  |  |
| <sup>d</sup> | Arlington Higher Education Finance Corp., BASIS Texas Charter Schools Inc, 4.50%, 6/15/44 | &nbsp;&nbsp;830000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;748709 |
|  | Cedar Port Navigation & Improvement District, |  |  |
|  | 4.00%, 9/01/37 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;479492 |
|  | 4.00%, 9/01/38 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;940443 |
| <sup>d</sup> | City of Alvarado, Lone Oak Public Improvement District Improvement Area No. 1, Special Assessment, 5.75%, 9/01/45 | &nbsp;&nbsp;555000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;556477 |
|  | City of Anna, |  |  |
|  | <sup>d</sup> Hurricane Creek Public Improvement District Improvement Area No. 2, Special Assessment, 5.00%, 9/01/28 | &nbsp;&nbsp; 682000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;691640 |
|  | <sup>d</sup> Meadow Vista Public Improvement District Improvement Area 1, Special Assessment, 4.875%, 9/15/31 | &nbsp;&nbsp; 270000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270762 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | City of Aubrey, Jackson Ridge Public Improvement District, Refunding, Special Assessment, 5.00%, 9/01/25 | &nbsp;&nbsp;505000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;506240 |
| <sup>d</sup> | City of Austin, Whisper Valley Public Improvement District Improvement Area 2, Special Assessment, 4.75%, 11/01/29 | &nbsp;&nbsp;134000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134493 |
| <sup>d</sup> | City of Balch Springs, Public Improvement District No. 1, Special Assessment, 5.625%, 9/15/45 | &nbsp;&nbsp;714000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;717910 |
| <sup>d</sup> | City of Bastrop, Valverde Public Improvement District Improvement Area #1, Special Assessment, 5.375%, 9/01/45 | &nbsp;&nbsp;620000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;601948 |
| <sup>d</sup> | City of Blue Ridge, Blue Ridge Crossing Public Improvement District, Special Assessment, 5.625%, 9/15/45 | &nbsp;&nbsp;511000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;511131 |
|  | City of Boyd, |  |  |
|  | <sup>d</sup> Improvement Area, Special Assessment, 5.625%, 9/15/45 | &nbsp;&nbsp; 171000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171713 |
|  | <sup>d</sup> Public Improvement District No. 1 Improvement Area No. 1, Special Assessment, 4.25%, 9/15/30 | &nbsp;&nbsp; 107000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107529 |
|  | City of Celina, |  |  |
|  | <sup>d</sup> Celina Hills Public Improvement District, Special Assessment, 4.375%, 9/01/27 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49789 |
|  | <sup>d</sup> Chalk Hill Public Improvement District No. 2, Special Assessment, 5.00%, 9/01/30 | &nbsp;&nbsp; 185000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187801 |
|  | <sup>d</sup> Creeks of Legacy Public Improvement District Phase No. 3, Special Assessment, 3.625%, 9/01/30 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93684 |
|  | <sup>d</sup> Cross Creek Meadows Public Improvement District Area No. 1, Special Assessment, 4.50%, 9/01/30 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100315 |
|  | <sup>d</sup> Edgewood Creek Public Improvement District, Special Assessment, 3.75%, 9/01/31 | &nbsp;&nbsp; 180000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168928 |
|  | <sup>d</sup> Lakes at Mustang Ranch Public Improvement District Phases 8-9, Special Assessment, 5.50%, 9/01/45 | &nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;436769 |
|  | <sup>d</sup> Mosaic Public Improvement District Area No. 2, Special Assessment, 4.50%, 9/01/31 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251048 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;North Sky Public Improvement District Improvement Area No. 1, Special Assessment, 5.00%, 9/01/44 | &nbsp;&nbsp; 289000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265263 |
|  | <sup>d</sup> Pravin Public Improvement District, Special Assessment, 6.50%, 9/01/43 | &nbsp;&nbsp; 103000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100477 |
|  | <sup>d</sup> Sutton Fields II Public Improvement District, Special Assessment, 2.875%, 9/01/27 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48210 |
|  | <sup>d</sup> The Parks at Wilson Creek Public Improvement District, Special Assessment, 3.25%, 9/01/31 | &nbsp;&nbsp; 110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102002 |
|  | <sup>d</sup> Wells North Public Improvement District, Special Assessment, 3.25%, 9/01/30 | &nbsp;&nbsp; 180000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166990 |
|  | City of Corpus Christi, Whitecap Public Improvement District No. 1 Improvement Area 1, Special Assessment, 5.375%, 9/15/31 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256193 |
|  | City of Crandall, |  |  |
|  | <sup>d</sup> Cartwright Ranch Public Improvement District Major Improvement Area, Special Assessment, 4.75%, 9/15/31 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99876 |
|  | <sup>d</sup> River Ridge Public Improvement District Improvement Area 2, Special Assessment, 5.25%, 9/15/45 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;664066 |
| <sup>d</sup> | City of Decatur, Paloma Trails Public Improvement District Improvement Area No. 1, Special Assessment, 4.75%, 9/15/35 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;393571 |
|  | City of Fate, |  |  |
|  | <sup>d</sup> Monterra Public Improvement District, Special Assessment, 2.75%, 8/15/26 | &nbsp;&nbsp; 14000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13700 |
|  | <sup>d</sup> Williamsburg East Public Improvement District, Special Assessment, 3.375%, 8/15/30 | &nbsp;&nbsp; 145000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133578 |
|  | <sup>d</sup> Williamsburg Public Improvement District No. 1 Phase 3B, Special Assessment, 5.125%, 8/15/43 | &nbsp;&nbsp; 718000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710758 |
|  | City of Galveston Wharves & Terminal Revenue, |  |  |
|  | AMT, Series A, 5.00%, 8/01/32 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;1053172 |
|  | AMT, Series A, 5.00%, 8/01/33 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;1054183 |
|  | AMT, Series A, 5.00%, 8/01/34 | &nbsp;&nbsp; 965000 | &nbsp;&nbsp;&nbsp;&nbsp;1009011 |
|  | City of Horseshoe Bay, Escondido Public Improvement District, Special Assessment, Refunding, 3.00%, 10/01/30 | &nbsp;&nbsp;138000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125952 |
|  | City of Houston Airport System Revenue, |  |  |
|  | United Airlines Inc, AMT, Refunding, Series B, 5.50%, 7/15/38 | &nbsp;&nbsp; 3670000 | &nbsp;&nbsp;&nbsp;&nbsp;3777846 |
|  | United Airlines Inc, AMT, Series B, 5.50%, 7/15/37 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;519733 |
|  | United Airlines Inc, AMT, Series B, 5.50%, 7/15/39 | &nbsp;&nbsp; 4445000 | &nbsp;&nbsp;&nbsp;&nbsp;4549747 |
|  | City of Hutto, |  |  |
|  | <sup>d</sup> Cottonwood Creek Public Improvement District Improvement Area No. 2,Special Assessment, 5.125%, 9/01/45 | &nbsp;&nbsp; 702000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;657381 |
|  | <sup>d</sup> Emory Crossing Public Improvement District Improvement Area No. 2, Special Assessment, 4.50%, 9/01/30 | &nbsp;&nbsp; 270000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272401 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| <sup>d</sup> | City of Justin, Timberbrook Public Improvement District No. 2 Area No. 1, Special Assessment, 4.50%, 9/01/31 | &nbsp;&nbsp;153000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154180 |
| <sup>d</sup> | City of Kaufman, Public Improvement District No. 1, Special Assessment, 5.625%, 9/15/42 | &nbsp;&nbsp;26000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25365 |
|  | City of Kyle, |  |  |
|  | <sup>d</sup> 6 Creeks Public Improvement District Improvement Area No. 4, Special Assessment, 4.50%, 9/01/33 | &nbsp;&nbsp; 650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;644579 |
|  | <sup>d</sup> 6 Creeks Public Improvement District Improvement Area No. 5, Special Assessment, 4.50%, 9/01/35 | &nbsp;&nbsp; 366000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;356481 |
|  | <sup>d</sup> City of Kyle TX 6 Creeks Public Improvement District Improvement Area No. 4, Special Assessment, 4.375%, 9/01/28 | &nbsp;&nbsp; 325000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326234 |
|  | Kyle 57 Public Improvement District, Series 2022, 4.75%, 9/01/32 | &nbsp;&nbsp; 133000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135215 |
|  | <sup>d</sup> Limestone Creek Public Improvement District Improvement Area #1, Special Assessment, 5.50%, 9/01/44 | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp;&nbsp;&nbsp;1073225 |
|  | <sup>d</sup> Plum Creek North Public Improvement District Improvement Area No. 2, Special Assessment, 5.00%, 9/01/44 | &nbsp;&nbsp; 524000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501549 |
|  | <sup>d</sup> Plum Creek North Public Improvement District, Special Assessment, 4.375%, 9/01/32 | &nbsp;&nbsp; 215000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212108 |
|  | <sup>d</sup> Southwest Kyle Public Improvement District No. 1 Improvement Area No. 2, Special Assessment, 5.75%, 9/01/30 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103496 |
|  | City of Lago Vista, |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Tessera on Lake Travis Public Improvement District Improvement Area No. 1, Special Assessment, Refunding, 3.125%, 9/01/30 | &nbsp;&nbsp; 130000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120998 |
|  | <sup>d</sup> Tessera on Lake Travis Public Improvement District Major Improvement Area, Special Assessment, Refunding, 5.00%, 9/01/30 | &nbsp;&nbsp; 115000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109016 |
|  | City of Lavon, |  |  |
|  | <sup>d</sup> Elevon Public Improvement District Improvement Area No. 1, Special Assessment, 5.00%, 9/15/44 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481891 |
|  | <sup>d</sup> Lakepointe Public Improvement District, Special Assessment, 5.25%, 9/15/28 | &nbsp;&nbsp; 507000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516389 |
|  | <sup>d</sup> Lakepointe Public Improvement District, Special Assessment, 5.875%, 9/15/42 | &nbsp;&nbsp; 655000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;678398 |
|  | City of Leander, Oak Creek Public Improvement District, Special Assessment, Refunding, 3.25%, 9/01/32 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90596 |
| <sup>d</sup> | City of Liberty Hill, Summerlyn West Public Improvement District, Special Assessment, 3.125%, 9/01/30 | &nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70102 |
| <sup>d</sup> | City of Lowry Crossing, Simpson Road Public Improvement District, Special Assessment, 5.75%, 9/15/45 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;1003168 |
|  | City of Manor, |  |  |
|  | <sup>d</sup> EntradenGlen Public Improvement District Improvement Area No. 1, Special Assessment, 6.00%, 9/15/36 | &nbsp;&nbsp; 409000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;411726 |
|  | <sup>d</sup> Manor Heights Public Improvement District Area No. 3, Special Assessment, 5.25%, 9/15/43 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195225 |
| <sup>d</sup> | City of Marble Falls, Thunder Rock Public Improvement District Improvement Area 2A, Special Assessment, 6.375%, 9/01/44 | &nbsp;&nbsp;1004000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;940237 |
| <sup>d</sup> | City of Mclendon-Chisholm, Sonoma Public Improvement District, Special Assessment, 5.375%, 9/15/32 | &nbsp;&nbsp;155000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160585 |
|  | City of Mesquite, |  |  |
|  | <sup>d</sup> Heartland Town Center Public Improvement District Phase 2, Special Assessment, 4.00%, 9/01/30 | &nbsp;&nbsp; 109000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107409 |
|  | <sup>d</sup> Solterra Public Improvement District Improvement Area C-1, Special Assessment, 5.375%, 9/01/43 | &nbsp;&nbsp; 102000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100601 |
|  | <sup>d</sup> Solterra Public Improvement District Improvement Area C-3, Special Assessment, 5.00%, 9/01/44 | &nbsp;&nbsp; 506000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;474523 |
| <sup>d</sup> | City of Mustang Ridge, Durango Public Improvement District Improvement Area 2, Special Assessment, 5.875%, 9/01/45 | &nbsp;&nbsp;705000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;711190 |
| <sup>d</sup> | City of Oak Point, Chaparral Park Public Improvement District Improvement Area No. 1, Special Assessment Area, 4.25%, 9/15/31 | &nbsp;&nbsp;309000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303495 |
|  | City of Pilot Point, |  |  |
|  | <sup>d</sup> Creekview Public Improvement District, Special Assessment, Series 2022, 5.25%, 9/15/32 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154528 |
|  | <sup>d</sup> Creekview Public Improvement District, Special Assessment, Series 2022, 5.75%, 9/15/32 | &nbsp;&nbsp; 145000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150804 |
|  | City of Princeton, |  |  |
|  | <sup>d</sup> Eastridge Public Improvement District Improvement Area 1, Special Assessment, 5.125%, 9/01/42 | &nbsp;&nbsp; 850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;806897 |
|  | <sup>d</sup> Southbridge Public Improvement District Improvement Area 2, Special Assessment, 5.25%, 9/01/44 | &nbsp;&nbsp; 1261000 | &nbsp;&nbsp;&nbsp;&nbsp;1202336 |
|  | <sup>d</sup> Southridge Public Improvement District Area No. 3, Special Assessment, 5.75%, 9/01/45 | &nbsp;&nbsp; 854000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;853175 |
|  | <sup>d</sup> Westridge Public Improvement District Improvement Area No, Special Assessment, 5.375%, 9/01/45 | &nbsp;&nbsp; 544000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;524349 |
|  | <sup>d</sup> Winchester Crossing Public Improvement District No. 3, Special Assessment, 4.375%, 9/01/31 | &nbsp;&nbsp; 319000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315714 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | <sup>d</sup> Winchester Public Improvement District No. 2, Project, Special Assessment, 5.125%, 9/01/42 | &nbsp;&nbsp; 1011000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;960803 |
|  | <sup>d</sup> Winchester Public Improvement District, Special Assessment, 2.875%, 9/01/31 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89540 |
|  | <sup>d</sup> Winchester Public Improvement District, Special Assessment, 3.25%, 9/01/30 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92989 |
|  | <sup>d</sup> Windmore Public Improvement District Improvement Area No. 2, Special Assessment, 5.75%, 9/01/45 | &nbsp;&nbsp; 811000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;810216 |
|  | City of Royse City, |  |  |
|  | <sup>d</sup> Clearview Ranch Public Improvement District South Zone Improvement Area 1, Special Assessment, Series 2024, 5.25%, 9/15/44 | &nbsp;&nbsp; 437000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410195 |
|  | <sup>d</sup> Creekshaw Public Improvement District, Special Assessment, 3.125%, 9/15/25 | &nbsp;&nbsp; 120000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119936 |
|  | City of Sachse, |  |  |
|  | <sup>d</sup> Sachse Public Improvement District No. 1 Improvement Area No. 1, Special Assessment, 5.00%, 9/15/28 | &nbsp;&nbsp; 202000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204918 |
|  | <sup>d</sup> Sachse Public Improvement District No. 1 Improvement Area No. 1, Special Assessment, 5.625%, 9/15/42 | &nbsp;&nbsp; 460000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;466859 |
|  | <sup>d</sup> Sachse Public Improvement District No. 1, Special Assessment, 6.00%, 9/15/28 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103171 |
|  | <sup>d</sup> Sachse Public Improvement District No. 1, Special Assessment, 6.875%, 9/15/42 | &nbsp;&nbsp; 310000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;331977 |
| <sup>d,g</sup> | City of Seagoville, 5.75%, 9/15/45 | &nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650375 |
|  | City of Tomball, |  |  |
|  | <sup>d</sup> Raburn Reserve Public Improvement District Area No. 2, Special Assessment, 4.875%, 9/15/33 | &nbsp;&nbsp; 145000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145506 |
|  | <sup>d</sup> Raburn Reserve Public Improvement District, Special Assessment, 3.375%, 9/15/30 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93582 |
|  | <sup>d</sup> Winfrey Estates Public Improvement District, Special Assessment, 5.75%, 9/15/45 | &nbsp;&nbsp; 415000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;421202 |
| <sup>d</sup> | City of Uhland, Watermill Public Improvement District, Special Assessment, 5.75%, 9/01/27 | &nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140959 |
| <sup>d,g</sup> | City of Wharton, Special Assessment, 5.75%, 9/15/45 | &nbsp;&nbsp;225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225132 |
| <sup>d</sup> | Club Municipal Management District No. 1, Improvement Area No. 3, Special Assessment, 5.10%, 9/01/44 | &nbsp;&nbsp;326000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311769 |
|  | County of Bastrop, Double Eagle Ranch Public Improvement District Improvement Area 2, Special Assessment, 4.50%, 9/01/31 | &nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221839 |
|  | County of Denton, |  |  |
|  | <sup>d</sup> Green Meadows Public Improvement District Improvement Area 1, Special Assessment, 5.375%, 12/31/45 | &nbsp;&nbsp; 520000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;524564 |
|  | <sup>d</sup> Green Meadows Public Improvement District Major Improvement Area, Special Assessment, 5.875%, 12/31/45 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277140 |
|  | <sup>d</sup> Tabor Ranch Public Improvement District Improvement Area No. 1, Special Assessment, Series A, 5.25%, 12/31/44 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238009 |
|  | County of Hays, |  |  |
|  | <sup>d</sup> La Cima Public Improvement District Neighborhood Improvement Area 3, Special Assessment, 4.75%, 9/15/27 | &nbsp;&nbsp; 371000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371403 |
|  | <sup>d</sup> La Cima Public Improvement District Neighborhood Improvement Area 3, Special Assessment, 4.875%, 9/15/32 | &nbsp;&nbsp; 505000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;502651 |
|  | <sup>d</sup> La Cima Public Improvement District, Special Assessment, 3.25%, 9/15/30 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138277 |
|  | <sup>d</sup> Special Assessment Area, 5.50%, 9/15/42 | &nbsp;&nbsp; 780000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;758704 |
|  | County of Montgomery, |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Crockett Meadows Public Improvement District Improvement Area, Special Assessment, 4.50%, 9/15/32 | &nbsp;&nbsp; 660000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;658299 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Meadow Park Public Improvement District Improvement Area No. 1, Special Assessment, 5.125%, 9/15/45 | &nbsp;&nbsp; 675000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;648304 |
|  | East Montgomery County Municipal Utility District No. 5, 4.00%, 12/01/39 | &nbsp;&nbsp;1140000 | &nbsp;&nbsp;&nbsp;&nbsp;1072965 |
| <sup>g</sup> | El Paso County Hospital District, 5.50%, 2/15/50 | &nbsp;&nbsp;8000000 | &nbsp;&nbsp;&nbsp;&nbsp;8332792 |
|  | EP Cimarron Ventanas PFC, 4.125%, 12/01/39 | &nbsp;&nbsp;3300000 | &nbsp;&nbsp;&nbsp;&nbsp;3134535 |
|  | EP Essential Housing WF PFC, 4.25%, 12/01/34 | &nbsp;&nbsp;3120000 | &nbsp;&nbsp;&nbsp;&nbsp;3096504 |
|  | EP La Privada PFC, La Privada Apartments Project, 4.50%, 6/01/40 | &nbsp;&nbsp;4915000 | &nbsp;&nbsp;&nbsp;&nbsp;4761758 |
|  | EP Royal Estates PFC, 4.25%, 10/01/39 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;1895029 |
|  | Fulshear Municipal Utility District No. 3A, 4.25%, 9/01/41 | &nbsp;&nbsp;1005000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;962738 |
|  | FW Texas Street Public Facility Corp., River District Project, 5.00%, 5/01/38 | &nbsp;&nbsp;3125000 | &nbsp;&nbsp;&nbsp;&nbsp;3108310 |
|  | Harris County Municipal Utility District No. 171, |  |  |
|  | 4.75%, 12/01/40 | &nbsp;&nbsp; 1215000 | &nbsp;&nbsp;&nbsp;&nbsp;1224446 |
|  | 6.75%, 12/01/26 | &nbsp;&nbsp; 1015000 | &nbsp;&nbsp;&nbsp;&nbsp;1063753 |
|  | Series A, 4.00%, 12/01/40 | &nbsp;&nbsp; 970000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;895725 |
|  | Harris County Municipal Utility District No. 490, 4.00%, 9/01/40 | &nbsp;&nbsp;805000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;759680 |
|  | Harris County Municipal Utility District No. 502, 4.75%, 9/01/37 | &nbsp;&nbsp;1060000 | &nbsp;&nbsp;&nbsp;&nbsp;1084480 |
|  | Harris County Municipal Utility District No. 540, |  |  |
|  | 5.00%, 9/01/39 | &nbsp;&nbsp; 265000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255785 |
|  | 5.375%, 9/01/45 | &nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325183 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | Harris-Waller Counties Municipal Utility District No. 4, |  |  |
|  | 5.00%, 11/01/34 | &nbsp;&nbsp; 345000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;357095 |
|  | 5.00%, 11/01/36 | &nbsp;&nbsp; 645000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;661083 |
|  | 5.00%, 11/01/38 | &nbsp;&nbsp; 195000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197792 |
|  | 5.25%, 11/01/41 | &nbsp;&nbsp; 105000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106248 |
|  | 5.50%, 11/01/44 | &nbsp;&nbsp; 1080000 | &nbsp;&nbsp;&nbsp;&nbsp;1093181 |
|  | Lakes Fresh Water Supply District of Denton County, 4.375%, 9/01/42 | &nbsp;&nbsp;1350000 | &nbsp;&nbsp;&nbsp;&nbsp;1320813 |
|  | Matagorda County Navigation District No. 1, CenterPoint Energy Inc, Refunding, 5.125%, 11/01/28 | &nbsp;&nbsp;1115000 | &nbsp;&nbsp;&nbsp;&nbsp;1163573 |
| <sup>b</sup> | Mission Economic Development Corp., Graphic Packaging International LLC, AMT, Refunding, 5.00%, 12/01/64 | &nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;3068023 |
|  | New Hope Cultural Education Facilities Finance Corp., |  |  |
|  | CHF-Collegiate Housing College Station I LLC, 5.00%, 4/01/29 | &nbsp;&nbsp; 85000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85015 |
|  | CHF-Collegiate Housing Corpus Christi II LLC, 5.00%, 4/01/31 | &nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30395 |
|  | NCCD-College Station Properties LLC, Series A, 5.00%, 7/01/30 | &nbsp;&nbsp; 160000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158118 |
|  | NCCD-College Station Properties LLC, Series A, 5.00%, 7/01/47 | &nbsp;&nbsp; 135000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127972 |
|  | Wesleyan Homes Obligated Group, Refunding, 4.00%, 1/01/29 | &nbsp;&nbsp; 85000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82164 |
|  | North Parkway Municipal Management District No. 1, |  |  |
|  | <sup>d</sup> Legacy Hills Public Improvement District, Special Assessment, 3.625%, 9/15/31 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46923 |
|  | <sup>d</sup> Major Improvements Project, Special Assessment, 4.25%, 9/15/31 | &nbsp;&nbsp; 152000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150505 |
|  | Northlake Municipal Management District No. 1, 5.00%, 3/01/40 | &nbsp;&nbsp;925000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;938428 |
| <sup>d</sup> | Northwood Municipal Utility District No. 1, Refunding, 4.00%, 8/01/31 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;398543 |
|  | Sienna Municipal Utility District No. 6, |  |  |
|  | 4.125%, 9/01/41 | &nbsp;&nbsp; 1105000 | &nbsp;&nbsp;&nbsp;&nbsp;1034733 |
|  | 4.125%, 9/01/42 | &nbsp;&nbsp; 1030000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;953462 |
|  | South Manvel Development Authority, City of Manvel TX Tax Increment Reinvestment Zone Number 3, 5.00%, 4/01/38 | &nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;603138 |
|  | Southeast Regional Management District, Series A, 4.00%, 4/01/43 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455052 |
|  | Texas Department of Housing & Community Affairs, Series B, 4.65%, 7/01/40 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;1001680 |
|  | Texas Municipal Gas Acquisition & Supply Corp. III, Refunding, 5.00%, 12/15/32 | &nbsp;&nbsp;2495000 | &nbsp;&nbsp;&nbsp;&nbsp;2658496 |
| <sup>c</sup> | Texas Municipal Gas Acquisition & Supply Corp. IV, VRDN, Series B, 5.50%, 1/01/54 | &nbsp;&nbsp;3720000 | &nbsp;&nbsp;&nbsp;&nbsp;4083028 |
| <sup>c</sup> | Texas Municipal Gas Acquisition & Supply Corp. V, VRDN, 5.00%, 1/01/55 | &nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;2659130 |
|  | Town of Providence Village, |  |  |
|  | <sup>d</sup> Foree Ranch Public Improvement District Improvement Area 1, Special Assessment, 5.00%, 9/01/44 | &nbsp;&nbsp; 175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162551 |
|  | <sup>d</sup> Foree Ranch Public Improvement District Improvement Area 1, Special Assessment, Series C, 4.375%, 9/01/31 | &nbsp;&nbsp; 255000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253320 |
|  | <sup>d</sup> Foree Ranch Public Improvement District Improvement Area 2, Special Assessment, 5.35%, 9/01/45 | &nbsp;&nbsp; 775000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;742006 |
|  | Travis County Development Authority, Special Assessment, 5.00%, 9/01/44 | &nbsp;&nbsp;285000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269849 |
|  | Travis County Municipal Utility District No. 22, |  |  |
|  | Series A, 5.75%, 9/01/38 | &nbsp;&nbsp; 415000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;424608 |
|  | Series B, 6.00%, 9/01/42 | &nbsp;&nbsp; 455000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;463426 |
|  | Viridian Municipal Management District, |  |  |
|  | 5.00%, 12/01/25 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100619 |
|  | Special Assessment, 2.875%, 12/01/30 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91037 |
|  | Viridian Public Improvement District, Special Assessment, 2.375%, 12/01/25 | &nbsp;&nbsp; 14000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13902 |
|  | Walden Pond Fresh Water Supply District, |  |  |
|  | 6.00%, 9/01/32 | &nbsp;&nbsp; 160000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163403 |
|  | 6.25%, 9/01/47 | &nbsp;&nbsp; 370000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363545 |
|  | Westpointe Special Improvement District, 5.00%, 8/15/41 | &nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;559716 |
|  |  |  | 106651289 |
|  | **U. S. Virgin Islands 0.1%** |  |  |
|  | Matching Fund Special Purpose Securitization Corp., United States Virgin Islands Federal Excise Tax, Refunding, Series A, 5.00%, 10/01/30 | &nbsp;&nbsp;810000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;828691 |
|  | **Utah 0.7%** |  |  |
| <sup>d</sup> | Mida Mountain Village Public Infrastructure District, Military Installation Development Auth Military Recreation Fac Project Area, Series 1, 5.125%, 6/15/54 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;1870366 |
|  | Military Installation Development Authority, Series 2021A-2, 4.00%, 6/01/36 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232381 |
| <sup>d</sup> | Utah Charter School Finance Authority, Wallace Stegner Academy, Series 2022A, 5.25%, 6/15/32 | &nbsp;&nbsp;230000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232965 |
|  | Utah Infrastructure Agency, |  |  |
|  | 4.00%, 10/15/36 | &nbsp;&nbsp; 845000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;796541 |
|  | 5.00%, 10/15/32 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265037 |
|  | 5.00%, 10/15/37 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102873 |
|  | 5.25%, 10/15/39 | &nbsp;&nbsp; 565000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590330 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | Refunding, Series 2021, 4.00%, 10/15/38 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;919417 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;5009910 |
|  | **Virginia 1.0%** |  |  |
| <sup>d</sup> | Peninsula Town Center Community Development Authority, Special Assessment, Refunding, 4.50%, 9/01/28 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100586 |
|  | Virginia Beach Development Authority, Westminster-Canterbury on Chesapeake Bay Obligated Group, 5.75%, 9/01/30 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;1009593 |
| <sup>g</sup> | Virginia College Building Authority, Regent University Obligated Group, 6.00%, 6/01/50 | &nbsp;&nbsp;1900000 | &nbsp;&nbsp;&nbsp;&nbsp;2006167 |
|  | Virginia Small Business Financing Authority, National Senior Communities Inc Obligated Group, Refunding, Series A, 4.00%, 1/01/36 | &nbsp;&nbsp;4185000 | &nbsp;&nbsp;&nbsp;&nbsp;4101855 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;7218201 |
|  | **Washington 2.6%** |  |  |
|  | County of Spokane Airport Revenue, AMT, Refunding, Series B, 5.25%, 1/01/41 | &nbsp;&nbsp;1600000 | &nbsp;&nbsp;&nbsp;&nbsp;1670185 |
|  | Jefferson County Public Hospital District No. 2, Refunding, Series A, 5.75%, 12/01/33 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;502458 |
|  | King County Housing Authority, 5.50%, 5/01/38 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;1001394 |
|  | Skagit County Public Hospital District No. 1, Refunding, 5.00%, 12/01/29 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101539 |
|  | Vancouver Housing Authority, |  |  |
|  | 2200 Norris LLLP, Refunding, 4.125%, 12/01/39 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp;&nbsp;&nbsp;1176525 |
|  | Cascara Vancouver LLLP, Refunding, Series A, 5.00%, 12/01/42 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp;1439126 |
|  | Esther Cougar Rehab LLLP, Refunding, Series A, 4.50%, 10/01/42 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp;&nbsp;&nbsp;1218814 |
|  | Jens Pointe Project, 4.25%, 2/01/38 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;2911884 |
|  | Navalia and Alena Projects, 4.00%, 8/01/34 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;973519 |
|  | Series A, 4.25%, 12/01/42 | &nbsp;&nbsp; 1660000 | &nbsp;&nbsp;&nbsp;&nbsp;1534440 |
| <sup>d</sup> | Washington Health Care Facilities Authority, Fred Hutchinson Cancer Center Obligated Group, 3.00%, 12/01/34 | &nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113974 |
|  | Washington State Housing Finance Commission, |  |  |
|  | Eastside Retirement Association Obligated Group, Refunding, Series A, 5.00%, 7/01/43 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199959 |
|  | <sup>d</sup> Eliseo Obligated Group, Refunding, Series 2021A, 4.00%, 1/01/31 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94414 |
|  | Emerald Heights Project, Refunding, Series A, 5.00%, 7/01/38 | &nbsp;&nbsp; 2035000 | &nbsp;&nbsp;&nbsp;&nbsp;2090252 |
|  | <sup>d</sup> Madison at Rivers Edge Apartments LLC, 3.65%, 1/01/37 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82832 |
|  | <sup>d</sup> Presbyterian Retirement Communities Northwest Obligated Group, Series 2019A, 5.00%, 1/01/34 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101543 |
|  | <sup>d</sup> Provident Group - SH II Properties LLC, Series A, 5.00%, 7/01/45 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;998949 |
|  | <sup>d</sup> Seattle Academy of Arts & Sciences, Refunding, 5.625%, 7/01/38 | &nbsp;&nbsp; 430000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;462723 |
|  | <sup>d</sup> Spokane United Methodist Homes Obligated Group, 5.00%, 1/01/32 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101624 |
|  | Whatcom County Public Utility District No. 1, |  |  |
|  | AMT, Series A, 5.25%, 12/01/36 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;858245 |
|  | AMT, Series A, 5.25%, 12/01/39 | &nbsp;&nbsp; 1240000 | &nbsp;&nbsp;&nbsp;&nbsp;1307751 |
|  |  |  | &nbsp;&nbsp;&nbsp;18942150 |
|  | **West Virginia 0.1%** |  |  |
|  | County of Ohio, Refunding, 5.25%, 6/01/44 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;990503 |
|  | **Wisconsin 2.5%** |  |  |
|  | Public Finance Authority, |  |  |
|  | BlueHub Loan Fund Inc, Refunding, Series B, 5.25%, 7/01/44 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;1029478 |
|  | Coral Academy of Science Las Vegas, Series 2017A, 5.00%, 7/01/45 | &nbsp;&nbsp; 1805000 | &nbsp;&nbsp;&nbsp;&nbsp;1726204 |
|  | <sup>d</sup> Coral Academy of Science Reno, 5.375%, 6/01/37 | &nbsp;&nbsp; 670000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;661446 |
|  | <sup>d</sup> Dominium Holdings I LLC, Series 1, 6.81%, 4/28/36 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;508458 |
|  | <sup>d</sup> Estancia Valley Classical Academy, Refunding, 4.00%, 7/01/31 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92714 |
|  | <sup>d</sup> FAH Tree House LLC, Series B, 6.625%, 2/01/46 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232506 |
|  | <sup>d</sup> Foundation Academy Charter School A NJ Nonprofit Corp, 4.75%, 7/01/45 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp;1334764 |
|  | <sup>d</sup> Foundation Academy Charter School A NJ Nonprofit Corp, 5.00%, 7/01/35 | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;715300 |
|  | <sup>d</sup> Friends Homes Obligated Group, Refunding, 4.00%, 9/01/29 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98710 |
|  | KSU Bixby Real Estate Foundation LLC, Series 2025A, 5.25%, 6/15/45 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;507409 |
|  | KSU Bixby Real Estate Foundation LLC, Series 2025B, 5.25%, 6/15/45 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;274037 |
|  | <sup>d</sup> Masonic & Eastern Star Home of NC Inc Obligated Group, Refunding, 4.00%, 3/01/27 | &nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19811 |
|  | NC A&T Real Estate Foundation LLC, Refunding, Series B, 5.00%, 6/01/39 | &nbsp;&nbsp; 960000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;979707 |
|  | North East Carolina Preparatory School, Inc., Refunding, 4.25%, 6/15/34 | &nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;797660 |
|  | <sup>d</sup> Ocean Academy Charter School, 4.00%, 10/15/31 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94754 |
|  | <sup>d</sup> Patriot Services Group Obligated Group, Refunding, Series A-1, 4.50%, 12/01/31 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;496562 |
|  | <sup>d,f</sup> Patriot Services Group Obligated Group, Refunding, Series B, 12/01/35 | &nbsp;&nbsp; 950000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;508543 |
|  | Refunding, Series A, 5.375%, 12/01/36 | &nbsp;&nbsp; 900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;905281 |
|  | <sup>b</sup> Refunding, Series A, 6.375%, 12/01/45 | &nbsp;&nbsp; 235500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107065 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | |
|:---|:---|:---|
| <sup>d</sup> Series 2023-B, 7.125%, 7/25/34 | &nbsp;&nbsp; 430000 | &nbsp;&nbsp;&nbsp;&nbsp; 443455 |
| <sup>d</sup> Signature Preparatory, 5.00%, 6/15/31 | &nbsp;&nbsp; 110000 | &nbsp;&nbsp;&nbsp;&nbsp; 110172 |
| Triad Math & Science Academy Co, 4.00%, 6/15/30 | &nbsp;&nbsp; 335000 | &nbsp;&nbsp;&nbsp;&nbsp; 335027 |
| Triad Math & Science Academy Co, Refunding, 5.25%, 6/15/45 | &nbsp;&nbsp; 2180000 | &nbsp;&nbsp;&nbsp;&nbsp; 2135503 |
| <sup>d</sup> UMA Education Inc, Refunding, 5.00%, 10/01/29 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 620364 |
| <sup>d</sup> Whitestone-Retirement Facilities, Refunding, 5.00%, 3/01/37 | &nbsp;&nbsp; 385000 | &nbsp;&nbsp;&nbsp;&nbsp; 369880 |
| Wisconsin Health & Educational Facilities Authority, |  |  |
| Chiara Communities Inc, Project, Series C, 7.00%, 7/01/43 | &nbsp;&nbsp; 505000 | &nbsp;&nbsp;&nbsp;&nbsp; 434088 |
| St John's Communities Inc Obligated Group, Refunding, 4.00%, 9/15/41 | &nbsp;&nbsp; 1050000 | &nbsp;&nbsp;&nbsp;&nbsp; 917696 |
| St John's Communities Inc Obligated Group, Refunding, 4.00%, 9/15/45 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp;&nbsp; 618570 |
| St John's Communities Inc Obligated Group, Refunding, Series B, 4.00%, 9/15/41 | &nbsp;&nbsp; 510000 | &nbsp;&nbsp;&nbsp;&nbsp; 445738 |
| Wisconsin Masonic Home Obligated Group, 4.20%, 8/15/28 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 248934 |
| Wisconsin Masonic Home Obligated Group, 5.50%, 8/15/44 | &nbsp;&nbsp; 305000 | &nbsp;&nbsp;&nbsp;&nbsp; 310069 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18079905 |
| **Total Municipal Bonds (Cost $733,192,079)** |  | &nbsp;&nbsp;&nbsp;&nbsp;729105064 |
| **Total Investments (Cost $740,359,613) 101.4%** |  | &nbsp;&nbsp;&nbsp;&nbsp;736487419 |
| **Other Assets, less Liabilities (1.4)%** |  | &nbsp;&nbsp;&nbsp;&nbsp;(10479349) |
| **Net Assets 100.0%** |  | $726008070 |

---

---

| |
|:---|
| <sup>†</sup>Rounds to less than 0.1% of net assets. |
| \*The principal amount is stated in U.S. dollars unless otherwise indicated. |
| <sup>a</sup>Fair valued using significant unobservable inputs. See Note 5 regarding fair value measurements. |
| <sup>b</sup>Variable rate security. The rate shown represents the yield at period end. |
| <sup>c</sup>Variable rate demand notes (VRDN) are obligations which contain a floating or variable interest rate adjustment formula and an unconditional right of demand to receive payment of the principal balance plus accrued interest at specified dates. Unless otherwise noted, the coupon rate is determined based on factors including supply and demand, underlying credit, tax treatment, and current short term rates. The coupon rate shown represents the rate at period end. |
| <sup>d</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional buyers or in a public offering registered under the Securities Act of 1933. At June 30, 2025, the aggregate value of these securities was $110,039,200, representing 15.2% of net assets. |
| <sup>e</sup>Defaulted security or security for which income has been deemed uncollectible. |
| <sup>f</sup>The rate shown represents the yield at period end. |
| <sup>g</sup>Security purchased on a when-issued basis. |

---

#### Abbreviations

---

| | |
|:---|:---|
| **Selected Portfolio** |  |
| **AMT** | Alternative Minimum Tax |
| **CSCDA** | California Statewide Communities Development Authority |
| **SOFR** | Secured Overnight Financing Rate |
| **VRDN** | Variable Rate Demand Note |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Franklin Emerging Market Core Dividend Tilt Index ETF** | &nbsp;&nbsp;**Industry** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
|  | **Common Stocks 97.2%** |  |  |  |
|  | **Australia 0.0%<sup>†</sup>** |  |  |  |
| <sup>a</sup> | Yancoal Australia Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 1800 | &nbsp;&nbsp;$6776 |
|  | **Brazil 3.2%** |  |  |  |
|  | Ambev SA | &nbsp;&nbsp;Beverages | &nbsp;&nbsp; 27000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 65894 |
|  | Banco do Brasil SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 11400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 46140 |
|  | Banco Santander Brasil SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3264 |
|  | BB Seguridade Participacoes SA | &nbsp;&nbsp;Insurance | &nbsp;&nbsp; 4200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27549 |
|  | Caixa Seguridade Participacoes SA | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8075 |
|  | Cia Energetica de Minas Gerais | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6299 |
|  | Cia Paranaense de Energia - Copel | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10255 |
|  | CPFL Energia SA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8984 |
|  | CSN Mineracao SA | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3272 |
|  | Energisa SA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15936 |
|  | Engie Brasil Energia SA | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14976 |
|  | Itausa SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13217 |
|  | Klabin SA | &nbsp;&nbsp;Containers & Packaging | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20283 |
|  | Localiza Rent a Car SA | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31181 |
|  | Petroleo Brasileiro SA - Petrobras | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93691 |
|  | TIM SA | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19392 |
|  | Vale SA | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;16200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156276 |
|  | Vibra Energia SA | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23811 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;568495 |
|  | **Chile 0.5%** |  |  |  |
|  | Banco de Chile | &nbsp;&nbsp;Banks | &nbsp;&nbsp;259290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39140 |
|  | Banco Santander Chile | &nbsp;&nbsp;Banks | &nbsp;&nbsp;371394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23280 |
|  | Cia Sud Americana de Vapores SA | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp;&nbsp;&nbsp;80988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4132 |
|  | Enel Americas SA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;114000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11083 |
|  | Quinenco SA | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6405 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84040 |
|  | **China 30.0%** |  |  |  |
|  | 37 Interactive Entertainment Network Technology Group Co. Ltd., Class A | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2896 |
|  | AAC Technologies Holdings, Inc., Class H | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15554 |
|  | Agricultural Bank of China Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;62400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51222 |
|  | Agricultural Bank of China Ltd., Class H | &nbsp;&nbsp;Banks | &nbsp;&nbsp;138000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98446 |
|  | AIMA Technology Group Co. Ltd., Class A | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2881 |
|  | Alibaba Group Holding Ltd., Class A | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;29840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;417380 |
|  | Anhui Conch Cement Co. Ltd., Class A | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5395 |
|  | Anhui Conch Cement Co. Ltd., Class H | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18816 |
|  | Anhui Gujing Distillery Co. Ltd., Class A | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3718 |
|  | Anhui Gujing Distillery Co. Ltd., Class B | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8025 |
|  | Anhui Yingjia Distillery Co. Ltd., Class A | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3303 |
|  | ANTA Sports Products Ltd., Class A | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48153 |
|  | Avary Holding Shenzhen Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2683 |
|  | Bank of Beijing Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9153 |
|  | Bank of Changsha Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1665 |
|  | Bank of Chengdu Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5051 |
|  | Bank of China Ltd., Class H | &nbsp;&nbsp;Banks | &nbsp;&nbsp;312000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181238 |
|  | Bank of Communications Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10722 |
|  | Bank of Communications Co. Ltd., Class H | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;42000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39057 |
|  | Bank of Hangzhou Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7044 |
|  | Bank of Jiangsu Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13002 |
|  | Bank of Nanjing Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8760 |
|  | Bank of Shanghai Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8887 |
|  | Bank of Suzhou Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2206 |
|  | Baoshan Iron & Steel Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8832 |
|  | Beijing Enterprises Holdings Ltd., Class H | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12344 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Beijing Oriental Yuhong Waterproof Technology Co. Ltd., Class A | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp; 1200 | &nbsp;&nbsp; 1798 |
|  | BOC Hong Kong Holdings Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 21000 | &nbsp;&nbsp; 91223 |
|  | BYD Co. Ltd., Class A | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp; 100 | &nbsp;&nbsp; 4634 |
|  | BYD Co. Ltd., Class H | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp; 3432 | &nbsp;&nbsp; 53557 |
|  | BYD Electronic International Co. Ltd. | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp; 4500 | &nbsp;&nbsp; 18229 |
|  | C&D International Investment Group Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp; 4000 | &nbsp;&nbsp; 8092 |
|  | China Coal Energy Co. Ltd., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 2400 | &nbsp;&nbsp; 3665 |
|  | China Coal Energy Co. Ltd., Class H | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 12000 | &nbsp;&nbsp; 13880 |
|  | China Construction Bank Corp., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 2400 | &nbsp;&nbsp; 3163 |
|  | China Construction Bank Corp., Class H | &nbsp;&nbsp;Banks | &nbsp;&nbsp;282000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284515 |
|  | China Everbright Bank Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;22200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12862 |
|  | China Everbright Bank Co. Ltd., Class H | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8989 |
| <sup>a</sup> | China Feihe Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;24000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17457 |
|  | China Hongqiao Group Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41228 |
|  | China Life Insurance Co. Ltd., Class H | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;42000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100800 |
|  | China Longyuan Power Group Corp. Ltd., Class H | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16211 |
|  | China Medical System Holdings Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12229 |
|  | China Merchants Bank Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34640 |
|  | China Merchants Bank Co. Ltd., Class H | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;13000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90834 |
|  | China Merchants Energy Shipping Co. Ltd., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4195 |
|  | China Merchants Expressway Network & Technology Holdings Co. Ltd., Class A | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6031 |
|  | China Merchants Port Holdings Co. Ltd. | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14573 |
|  | China Merchants Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5893 |
| <sup>a</sup> | China Merchants Securities Co. Ltd., Class H | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2168 |
|  | China Minsheng Banking Corp. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;15600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10345 |
|  | China Minsheng Banking Corp. Ltd., Class H | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;39000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22108 |
|  | China Overseas Land & Investment Ltd., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;24000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41641 |
|  | China Petroleum & Chemical Corp., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;10800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8504 |
|  | China Petroleum & Chemical Corp., Class H | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;84000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43980 |
| <sup>a</sup> | China Resources Mixc Lifestyle Services Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17404 |
| <sup>a</sup> | China Resources Pharmaceutical Group Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7827 |
|  | China Resources Power Holdings Co. Ltd. | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28953 |
|  | China Resources Sanjiu Medical & Pharmaceutical Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3406 |
|  | China Shenhua Energy Co. Ltd., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13583 |
|  | China Shenhua Energy Co. Ltd., Class H | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;18300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70985 |
|  | China Tourism Group Duty Free Corp. Ltd., Class A | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5107 |
| <sup>a</sup> | China Tower Corp. Ltd., Class H | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;27000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38591 |
|  | China Yangtze Power Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10098 |
|  | China Zhenhua Group Science & Technology Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1397 |
|  | China Zheshang Bank Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4259 |
|  | China Zheshang Bank Co. Ltd., Class H | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6764 |
|  | Chongqing Brewery Co. Ltd., Class A | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1538 |
|  | Chongqing Rural Commercial Bank Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3588 |
|  | Chongqing Rural Commercial Bank Co. Ltd., Class H | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10135 |
|  | Chow Tai Fook Jewellery Group Ltd., Class A | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;10800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18463 |
|  | CITIC Ltd., Class B | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41197 |
|  | CITIC Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4627 |
|  | CITIC Securities Co. Ltd., Class H | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4529 |
|  | CNPC Capital Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1834 |
|  | COFCO Sugar Holding Co. Ltd., Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1583 |
|  | COSCO SHIPPING Holdings Co. Ltd., Class A | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12598 |
|  | COSCO SHIPPING Holdings Co. Ltd., Class H | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp;&nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31276 |
|  | CSPC Pharmaceutical Group Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;34000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33350 |
|  | Daqin Railway Co. Ltd., Class A | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8292 |

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FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

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| | | | | |
|:---|:---|:---|:---|:---|
|  | DaShenLin Pharmaceutical Group Co. Ltd., Class A | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp; 600 | &nbsp;&nbsp; 1365 |
|  | Dong-E-E-Jiao Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp; 200 | &nbsp;&nbsp; 1460 |
|  | Dongfang Electric Corp. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp; 1200 | &nbsp;&nbsp; 2804 |
|  | Dongfang Electric Corp. Ltd., Class H | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp; 1200 | &nbsp;&nbsp; 2048 |
|  | ENN Energy Holdings Ltd. | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp; 4200 | &nbsp;&nbsp; 33546 |
|  | Flat Glass Group Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 1200 | &nbsp;&nbsp; 2548 |
|  | Flat Glass Group Co. Ltd., Class H | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 2000 | &nbsp;&nbsp; 2245 |
|  | Focus Media Information Technology Co. Ltd., Class A | &nbsp;&nbsp;Media | &nbsp;&nbsp; 6600 | &nbsp;&nbsp; 6726 |
|  | Foxconn Industrial Internet Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp; 4800 | &nbsp;&nbsp; 14327 |
|  | Fujian Sunner Development Co. Ltd., Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1197 |
|  | Fuyao Glass Industry Group Co. Ltd., Class A | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4775 |
| <sup>a</sup> | Fuyao Glass Industry Group Co. Ltd., Class H | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11424 |
|  | Ganfeng Lithium Group Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2829 |
| <sup>a</sup> | Ganfeng Lithium Group Co. Ltd., Class H | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3485 |
|  | Giant Network Group Co. Ltd., Class A | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1973 |
|  | Goneo Group Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2735 |
|  | Gree Electric Appliances, Inc. of Zhuhai, Class A | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18813 |
| <sup>b</sup> | Guangdong HEC Technology Holding Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1948 |
| <sup>b</sup> | Guanghui Energy Co. Ltd., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3025 |
|  | Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd., Class A | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2208 |
|  | Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd., Class H | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4433 |
|  | Guangzhou Development Group, Inc., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1571 |
|  | Guangzhou Shiyuan Electronic Technology Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2898 |
|  | Guotai Haitong Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12839 |
| <sup>a</sup> | Guotai Haitong Securities Co. Ltd., Class H | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;10800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17335 |
|  | H World Group Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;10200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34498 |
| <sup>a</sup> | Haidilao International Holding Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18032 |
|  | Haier Smart Home Co. Ltd., Class A | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2076 |
|  | Haier Smart Home Co. Ltd., Class H | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3432 |
|  | Hangzhou First Applied Material Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2171 |
|  | Hebei Yangyuan Zhihui Beverage Co. Ltd., Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1772 |
|  | Heilongjiang Agriculture Co. Ltd., Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2416 |
|  | Henan Shenhuo Coal Industry & Electricity Power Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2788 |
|  | Henan Shuanghui Investment & Development Co. Ltd., Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6134 |
|  | Hengan International Group Co. Ltd. | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9480 |
|  | Hengdian Group DMEGC Magnetics Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2370 |
|  | Hisense Home Appliances Group Co. Ltd., Class A | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2153 |
|  | Hisense Home Appliances Group Co. Ltd., Class H | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5452 |
|  | Hisense Visual Technology Co. Ltd., Class A | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1928 |
|  | HLA Group Corp. Ltd., Class A | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2332 |
|  | Huadian Power International Corp. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1375 |
|  | Huaibei Mining Holdings Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1900 |
|  | Huatai Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7459 |
| <sup>a</sup> | Huatai Securities Co. Ltd., Class H | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12153 |
|  | Huaxia Bank Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8613 |
|  | Huaxin Cement Co. Ltd., Class A | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;992 |
|  | Huayu Automotive Systems Co. Ltd., Class A | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2957 |
|  | Hubei Jumpcan Pharmaceutical Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2205 |
|  | Humanwell Healthcare Group Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3515 |
|  | Hunan Valin Steel Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1843 |

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FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

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| | | | | |
|:---|:---|:---|:---|:---|
|  | Industrial & Commercial Bank of China Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 29400 | &nbsp;&nbsp; 31152 |
|  | Industrial & Commercial Bank of China Ltd., Class H | &nbsp;&nbsp;Banks | &nbsp;&nbsp;252000 | &nbsp;&nbsp; 199674 |
|  | Industrial Bank Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 9000 | &nbsp;&nbsp; 29325 |
|  | Inner Mongolia ERDOS Resources Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 1200 | &nbsp;&nbsp; 1459 |
|  | Inner Mongolia ERDOS Resources Co. Ltd., Class B | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 3000 | &nbsp;&nbsp; 2901 |
|  | Inner Mongolia Junzheng Energy & Chemical Industry Group Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 3600 | &nbsp;&nbsp; 2774 |
|  | Inner Mongolia MengDian HuaNeng Thermal Power Corp. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp; 2400 | &nbsp;&nbsp; 1377 |
|  | Inner Mongolia Yili Industrial Group Co. Ltd., Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp; 3000 | &nbsp;&nbsp; 11676 |
|  | Inner Mongolia Yitai Coal Co. Ltd., Class B | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 6000 | &nbsp;&nbsp; 11886 |
| <sup>b</sup> | JA Solar Technology Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1672 |
|  | JD.com, Inc., Class A | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34215 |
|  | Jiangsu Financial Leasing Co. Ltd., Class A | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2030 |
|  | Jiangsu Phoenix Publishing & Media Corp. Ltd., Class A | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1871 |
|  | Jiangsu Yanghe Distillery Co. Ltd., Class A | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5407 |
|  | Jinduicheng Molybdenum Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1833 |
| <sup>b</sup> | Jinko Solar Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3591 |
| <sup>b</sup> | Jinneng Holding Shanxi Coal Industry Co. Ltd., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2047 |
|  | Jointown Pharmaceutical Group Co. Ltd., Class A | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1292 |
|  | KE Holdings, Inc., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14492 |
|  | Kingboard Holdings Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9592 |
|  | Kingnet Network Co. Ltd., Class A | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1617 |
|  | Kweichow Moutai Co. Ltd., Class A | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118064 |
|  | LB Group Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2716 |
|  | Lenovo Group Ltd. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;36500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43800 |
|  | Li Ning Co. Ltd. | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32331 |
|  | Livzon Pharmaceutical Group, Inc., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1509 |
|  | Livzon Pharmaceutical Group, Inc., Class H | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2259 |
| <sup>a</sup> | Longfor Group Holdings Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;11900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14037 |
|  | Luzhou Laojiao Co. Ltd., Class A | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9499 |
|  | Meihua Holdings Group Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1791 |
| <sup>a,b</sup> | Meituan, Class B | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86194 |
|  | Midea Group Co. Ltd., Class A | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30238 |
|  | Ming Yang Smart Energy Group Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1925 |
|  | MINISO Group Holding Ltd. | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10884 |
|  | Nanjing Iron & Steel Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1407 |
|  | NARI Technology Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11263 |
|  | NAURA Technology Group Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6173 |
|  | NetEase, Inc. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107516 |
|  | Ningbo Sanxing Medical Electric Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1878 |
|  | Ningbo Tuopu Group Co. Ltd., Class A | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3958 |
| <sup>a</sup> | Nongfu Spring Co. Ltd., Class H | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12260 |
|  | Oppein Home Group, Inc., Class A | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1576 |
|  | People's Insurance Co. Group of China Ltd., Class H | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;48000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36504 |
|  | Perfect World Co. Ltd., Class A | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1271 |
|  | PetroChina Co. Ltd., Class H | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;124000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106624 |
|  | PICC Property & Casualty Co. Ltd., Class H | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;42000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81325 |
|  | Ping An Bank Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15165 |
|  | Ping An Insurance Group Co. of China Ltd., Class A | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23236 |
|  | Ping An Insurance Group Co. of China Ltd., Class H | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139707 |
|  | Pingdingshan Tianan Coal Mining Co. Ltd., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1241 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Poly Developments & Holdings Group Co. Ltd., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp; 6000 | &nbsp;&nbsp; 6785 |
| <sup>a</sup> | Pop Mart International Group Ltd. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp; 1600 | &nbsp;&nbsp; 54339 |
|  | Postal Savings Bank of China Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 36600 | &nbsp;&nbsp; 27949 |
| <sup>a</sup> | Postal Savings Bank of China Co. Ltd., Class H | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 54000 | &nbsp;&nbsp; 37697 |
|  | Qingdao Port International Co. Ltd., Class A | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp; 1200 | &nbsp;&nbsp; 1456 |
| <sup>a</sup> | Qingdao Port International Co. Ltd., Class H | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp; 6000 | &nbsp;&nbsp; 5029 |
|  | Rockchip Electronics Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 200 | &nbsp;&nbsp; 4240 |
|  | Sailun Group Co. Ltd., Class A | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp; 1800 | &nbsp;&nbsp; 3297 |
|  | Shaanxi Coal Industry Co. Ltd., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 4800 | &nbsp;&nbsp; 12893 |
|  | Shan Xi Hua Yang Group New Energy Co. Ltd., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1674 |
| <sup>b</sup> | Shandong Hi-speed Co. Ltd., Class A | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1786 |
|  | Shandong Hualu Hengsheng Chemical Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3630 |
|  | Shandong Linglong Tyre Co. Ltd., Class A | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1229 |
|  | Shandong Nanshan Aluminum Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2887 |
|  | Shandong Weigao Group Medical Polymer Co. Ltd., Class H | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;14400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11208 |
|  | Shanghai Baosight Software Co. Ltd., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3957 |
|  | Shanghai Baosight Software Co. Ltd., Class B | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7317 |
|  | Shanghai Rural Commercial Bank Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5687 |
|  | Shanghai Yuyuan Tourist Mart Group Co. Ltd., Class A | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1395 |
|  | Shanxi Coal International Energy Group Co. Ltd., Class A | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1462 |
|  | Shanxi Coking Coal Energy Group Co. Ltd., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2144 |
|  | Shanxi Lu'an Environmental Energy Development Co. Ltd., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2651 |
|  | Shanxi Xinghuacun Fen Wine Factory Co. Ltd., Class A | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14775 |
| <sup>b</sup> | Shenergy Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2881 |
|  | Shengyi Technology Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5051 |
|  | Shennan Circuits Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4515 |
|  | Shenzhen Huaqiang Industry Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2250 |
|  | Shenzhen Transsion Holdings Co. Ltd., Class A | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4595 |
|  | Shenzhou International Group Holdings Ltd. | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38385 |
|  | Sichuan Road & Bridge Group Co. Ltd., Class A | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4975 |
|  | Sinoma International Engineering Co., Class A | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1437 |
|  | Sinopharm Group Co. Ltd., Class H | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19668 |
|  | Sinotrans Ltd., Class A | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1239 |
|  | Sinotrans Ltd., Class H | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6084 |
|  | Sinotruk Hong Kong Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8752 |
|  | SooChow Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2932 |
|  | SUPCON Technology Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2351 |
|  | Tasly Pharmaceutical Group Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2622 |
|  | TCL Zhonghuan Renewable Energy Technology Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1930 |
|  | Tencent Holdings Ltd. | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;608726 |
|  | Tianjin Pharmaceutical Da Re Tang Group Corp. Ltd., Class S | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1476 |
| <sup>b</sup> | Tianqi Lithium Corp., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2684 |
|  | Tianshan Aluminum Group Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2784 |
| <sup>b</sup> | Tongwei Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5612 |
| <sup>b</sup> | Trina Solar Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2446 |
|  | Uni-President China Holdings Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7261 |
|  | Want Want China Holdings Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;24000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16754 |
|  | Weichai Power Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6441 |
|  | Weichai Power Co. Ltd., Class H | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24367 |
|  | Western Mining Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2786 |
|  | Western Superconducting Technologies Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1738 |
|  | Wuchan Zhongda Group Co. Ltd., Class A | &nbsp;&nbsp;Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2207 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

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| | | | | |
|:---|:---|:---|:---|:---|
|  | Wuliangye Yibin Co. Ltd., Class A | &nbsp;&nbsp;Beverages | &nbsp;&nbsp; 1800 | &nbsp;&nbsp; 29878 |
|  | WUS Printed Circuit Kunshan Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp; 600 | &nbsp;&nbsp; 3567 |
|  | Xiamen C & D, Inc., Class A | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp; 1800 | &nbsp;&nbsp; 2606 |
| <sup>a,b</sup> | Xiaomi Corp., Class B | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp; 26000 | &nbsp;&nbsp; 198560 |
|  | Xinyi Solar Holdings Ltd. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 24000 | &nbsp;&nbsp; 7613 |
| <sup>a</sup> | Yadea Group Holdings Ltd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp; 7200 | &nbsp;&nbsp; 11520 |
|  | Yangzijiang Shipbuilding Holdings Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 15600 | &nbsp;&nbsp; 27191 |
|  | Yankuang Energy Group Co. Ltd., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 1850 | &nbsp;&nbsp; 3143 |
|  | Yankuang Energy Group Co. Ltd., Class H | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 24000 | &nbsp;&nbsp; 23878 |
|  | Yifeng Pharmacy Chain Co. Ltd., Class A | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2050 |
|  | Youngor Fashion Co. Ltd., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1834 |
|  | Yuexiu Property Co. Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3287 |
| <sup>b</sup> | Yunnan Energy New Material Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2453 |
|  | Yunnan Yuntianhua Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1840 |
|  | Yutong Bus Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4165 |
|  | Zangge Mining Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3574 |
|  | Zhejiang China Commodities City Group Co. Ltd., Class A | &nbsp;&nbsp;Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6929 |
|  | Zhejiang Dahua Technology Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3990 |
|  | Zhejiang Sanhua Intelligent Controls Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2210 |
|  | Zhejiang Weixing New Building Materials Co. Ltd., Class A | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;868 |
|  | Zhejiang Zheneng Electric Power Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3108 |
|  | Zhongjin Gold Corp. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4902 |
|  | Zhongsheng Group Holdings Ltd. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6166 |
| <sup>a</sup> | ZJLD Group, Inc. | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3773 |
|  | Zoomlion Heavy Industry Science & Technology Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3634 |
|  | Zoomlion Heavy Industry Science & Technology Co. Ltd., Class H | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7130 |
|  | ZTE Corp., Class A | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3629 |
|  | ZTE Corp., Class H | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3715 |
|  | ZTO Express Cayman, Inc. | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42344 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;5354091 |
|  | **Colombia 0.3%** |  |  |  |
|  | Ecopetrol SA | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;28554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12722 |
|  | Grupo Cibest SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20824 |
|  | Grupo Energia Bogota SA ESP | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp;18936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13999 |
|  | Interconexion Electrica SA ESP | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13045 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60590 |
|  | **Czech Republic 0.4%** |  |  |  |
|  | CEZ AS | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41105 |
|  | Komercni Banka AS | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21980 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63085 |
|  | **Greece 0.5%** |  |  |  |
|  | Hellenic Telecommunications Organization SA | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20689 |
|  | Motor Oil Hellas Corinth Refineries SA | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11165 |
|  | National Bank of Greece SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28222 |
|  | OPAP SA | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23591 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83667 |
|  | **Hong Kong 1.5%** |  |  |  |
|  | Beijing Enterprises Water Group Ltd., Class A | &nbsp;&nbsp;Water Utilities | &nbsp;&nbsp;&nbsp;&nbsp;24000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7246 |
|  | Bosideng International Holdings Ltd., Class A | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;24000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14186 |
|  | China Everbright Environment Group Ltd., Class B | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;24000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11679 |
|  | China Gas Holdings Ltd., Class A | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp;16800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15687 |
|  | China Mengniu Dairy Co. Ltd., Class B | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36917 |
|  | China Power International Development Ltd., Class H | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11427 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | China Resources Beer Holdings Co. Ltd., Class A | &nbsp;&nbsp;Beverages | &nbsp;&nbsp; 9000 | &nbsp;&nbsp; 28663 |
|  | China Resources Gas Group Ltd., Class A | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp; 4800 | &nbsp;&nbsp; 12260 |
|  | China Resources Land Ltd., Class H | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp; 18000 | &nbsp;&nbsp; 60994 |
|  | Far East Horizon Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp; 8000 | &nbsp;&nbsp; 6950 |
|  | Geely Automobile Holdings Ltd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp; 2000 | &nbsp;&nbsp; 4066 |
|  | Guangdong Investment Ltd. | &nbsp;&nbsp;Water Utilities | &nbsp;&nbsp; 18000 | &nbsp;&nbsp; 15042 |
|  | Kunlun Energy Co. Ltd. | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp; 24000 | &nbsp;&nbsp; 23297 |
|  | Orient Overseas International Ltd. | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp; 900 | &nbsp;&nbsp; 15294 |
|  | Xinyi Glass Holdings Ltd. | &nbsp;&nbsp;Building Products | &nbsp;&nbsp; 12000 | &nbsp;&nbsp; 11526 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275234 |
|  | **Hungary 0.2%** |  |  |  |
|  | OTP Bank Nyrt | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15759 |
|  | Richter Gedeon Nyrt | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24669 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40428 |
|  | **India 14.8%** |  |  |  |
| <sup>b</sup> | Adani Energy Solutions Ltd. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2961 |
| <sup>b</sup> | Adani Green Energy Ltd. | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14638 |
|  | Ashok Leyland Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25384 |
|  | Asian Paints Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7043 |
|  | Bajaj Finance Ltd. | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23587 |
|  | Bank of Baroda | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18728 |
|  | Bank of India | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7839 |
|  | Bharat Forge Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12538 |
|  | Bharat Petroleum Corp. Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;12306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47633 |
|  | Bharti Airtel Ltd. | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59051 |
|  | Britannia Industries Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42163 |
|  | Canara Bank | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;10830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14421 |
|  | Coal India Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;13974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63866 |
|  | Colgate-Palmolive India Ltd. | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23240 |
|  | Container Corp. of India Ltd. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14406 |
|  | CRISIL Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2962 |
|  | Cummins India Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31394 |
| <sup>c</sup> | Dixon Technologies India Ltd. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36689 |
| <sup>b</sup> | Eternal Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;16770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51653 |
|  | GAIL India Ltd. | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp;17352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38613 |
|  | Godrej Consumer Products Ltd. | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34709 |
|  | HCL Technologies Ltd. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132467 |
| <sup>a</sup> | HDFC Asset Management Co. Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30511 |
|  | HDFC Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199123 |
|  | Hero MotoCorp Ltd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;804 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39723 |
|  | Hindustan Petroleum Corp. Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30616 |
|  | Hindustan Unilever Ltd. | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41739 |
|  | ICICI Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47845 |
|  | Indian Bank | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12380 |
|  | Indian Oil Corp. Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;23670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40561 |
|  | Indian Railway Catering & Tourism Corp. Ltd. | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6233 |
| <sup>a</sup> | Indian Railway Finance Corp. Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8606 |
|  | Indraprastha Gas Ltd. | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10563 |
| <sup>b</sup> | IndusInd Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2574 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26175 |
|  | Infosys Ltd. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;13164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245873 |
|  | ITC Ltd. | &nbsp;&nbsp;Tobacco | &nbsp;&nbsp;&nbsp;&nbsp;18336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89039 |
| <sup>b</sup> | Jio Financial Services Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36988 |
|  | Larsen & Toubro Ltd. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5135 |
| <sup>a</sup> | LTIMindtree Ltd. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19716 |
|  | Mahindra & Mahindra Ltd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44096 |
|  | Maruti Suzuki India Ltd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4338 |
|  | Mazagon Dock Shipbuilders Ltd. | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9079 |
|  | Motilal Oswal Financial Services Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10287 |
|  | Mphasis Ltd. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;696 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23092 |
|  | Muthoot Finance Ltd. | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4039 |
|  | NHPC Ltd. | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;19452 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19463 |
|  | NMDC Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;19704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16083 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| NTPC Ltd. | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp; 12906 | &nbsp;&nbsp; 50399 |
| Oil & Natural Gas Corp. Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 25620 | &nbsp;&nbsp; 72955 |
| Oil India Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 2712 | &nbsp;&nbsp; 13732 |
| Oracle Financial Services Software Ltd. | &nbsp;&nbsp;Software | &nbsp;&nbsp; 132 | &nbsp;&nbsp; 13831 |
| Page Industries Ltd. | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp; 36 | &nbsp;&nbsp; 20741 |
| Patanjali Foods Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp; 576 | &nbsp;&nbsp; 11086 |
| Persistent Systems Ltd. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp; 486 | &nbsp;&nbsp; 34237 |
| Petronet LNG Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 4806 | &nbsp;&nbsp; 16918 |
| Polycab India Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp; 120 | &nbsp;&nbsp; 9167 |
| Power Finance Corp. Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37677 |
| Power Grid Corp. of India Ltd. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;27090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94733 |
| Prestige Estates Projects Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8001 |
| Punjab National Bank | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2080 |
| REC Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31869 |
| Reliance Industries Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25302 |
| Shriram Finance Ltd. | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59591 |
| Siemens Ltd. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6142 |
| State Bank of India | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29041 |
| Tata Communications Ltd. | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11828 |
| Tata Consultancy Services Ltd. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67335 |
| Tata Elxsi Ltd. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16776 |
| Tata Technologies Ltd. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8755 |
| Tech Mahindra Ltd. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77288 |
| Torrent Power Ltd. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14683 |
| UltraTech Cement Ltd. | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40611 |
| Union Bank of India Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16023 |
| Vedanta Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;10032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53909 |
| Voltas Ltd. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17009 |
| Wipro Ltd. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;18786 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58264 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;2647271 |
| **Indonesia 1.9%** |  |  |  |
| Alamtri Resources Indonesia Tbk. PT, Class B | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;81600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9198 |
| Aneka Tambang Tbk. PT | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;46800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8763 |
| Astra International Tbk. PT, Class H | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;118800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32929 |
| Bank Mandiri Persero Tbk. PT, Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;237600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71419 |
| Bank Negara Indonesia Persero Tbk. PT, Class H | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;93600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23753 |
| Bank Rakyat Indonesia Persero Tbk. PT, Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;435000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100210 |
| Golden Energy Mines Tbk. PT | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3372 |
| Indofood Sukses Makmur Tbk. PT | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;26400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13212 |
| Indosat Tbk. PT | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;25800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3321 |
| Telkom Indonesia Persero Tbk. PT, Class B | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;291600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49932 |
| Trimegah Bangun Persada Tbk. PT | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;48000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1951 |
| Unilever Indonesia Tbk. PT | &nbsp;&nbsp;Household Products | &nbsp;&nbsp;&nbsp;&nbsp;40800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3644 |
| United Tractors Tbk. PT | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;10200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13477 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335181 |
| **Kuwait 0.2%** |  |  |  |
| Kuwait Finance House KSCP | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20397 |
| Mobile Telecommunications Co. KSCP | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;15348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24245 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44642 |
| **Malaysia 2.1%** |  |  |  |
| AMMB Holdings Bhd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;14400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17442 |
| Axiata Group Bhd., Class A | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;16800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9217 |
| CIMB Group Holdings Bhd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;51600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83212 |
| KLCCP Stapled Group | &nbsp;&nbsp;Diversified REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7524 |
| Malayan Banking Bhd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;47400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109198 |
| Maxis Bhd. | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15433 |
| MISC Bhd. | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp;&nbsp;&nbsp;12600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22713 |
| Petronas Dagangan Bhd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 |
| Petronas Gas Bhd. | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5022 |
| RHB Bank Bhd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;24600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36808 |
| Sime Darby Bhd. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;18600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7289 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Telekom Malaysia Bhd. | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp; 2400 | &nbsp;&nbsp; 3733 |
|  | Tenaga Nasional Bhd. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp; 13800 | &nbsp;&nbsp; 47131 |
|  | Westports Holdings Bhd. | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp; 6600 | &nbsp;&nbsp; 8465 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382387 |
|  | **Mexico 1.3%** |  |  |  |
|  | Fibra Uno Administracion SA de CV | &nbsp;&nbsp;Diversified REITs | &nbsp;&nbsp; 16620 | &nbsp;&nbsp; 22803 |
| <sup>a</sup> | GMexico Transportes SAB de CV, Class C | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp; 3348 | &nbsp;&nbsp; 5604 |
|  | Grupo Aeroportuario del Pacifico SAB de CV, Class B | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp; 348 | &nbsp;&nbsp; 7934 |
|  | Grupo Aeroportuario del Sureste SAB de CV, Class B | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp; 1068 | &nbsp;&nbsp; 33865 |
|  | Grupo Financiero Banorte SAB de CV, Class O | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;15204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138037 |
|  | Grupo Mexico SAB de CV, Class B | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1812 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10902 |
|  | Wal-Mart de Mexico SAB de CV, Class V | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13264 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232409 |
|  | **Peru 0.5%** |  |  |  |
|  | Credicorp Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83149 |
|  | **Philippines 0.2%** |  |  |  |
|  | Aboitiz Power Corp., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5664 |
|  | Manila Electric Co. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17208 |
| <sup>a</sup> | Monde Nissin Corp. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;42600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5596 |
|  | PLDT, Inc. | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10370 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38838 |
| <sup>b,d</sup> | **Russia 0.0%** |  |  |  |
|  | Alrosa PJSC | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;54971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Gazprom PJSC | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;44709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | GMK Norilskiy Nickel PAO | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;69300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Inter RAO UES PJSC | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;811741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | LUKOIL PJSC | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Moscow Exchange MICEX-RTS PJSC | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;21224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Novolipetsk Steel PJSC | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;35119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | PhosAgro PJSC | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | PhosAgro PJSC | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| <sup>c</sup> | PhosAgro PJSC, GDR | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Polyus PJSC | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Rosneft Oil Co. PJSC | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;20055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Severstal PAO | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Surgutneftegas PAO | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;132846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Tatneft PJSC | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;29792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | United Co. RUSAL International PJSC | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;24749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | **Saudi Arabia 5.1%** |  |  |  |
|  | Ades Holding Co. | &nbsp;&nbsp;Energy Equipment & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10104 |
|  | Alinma Bank | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52903 |
|  | Arab National Bank | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31551 |
|  | Banque Saudi Fransi | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36029 |
|  | Etihad Etisalat Co. | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37662 |
|  | Jarir Marketing Co. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12960 |
|  | Nahdi Medical Co. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11236 |
|  | Riyad Bank | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72645 |
|  | SABIC Agri-Nutrients Co. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40645 |
|  | Sahara International Petrochemical Co. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11542 |
|  | SAL Saudi Logistics Services | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7211 |
| <sup>a</sup> | Saudi Arabian Oil Co. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;19308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125202 |
|  | Saudi Aramco Base Oil Co. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7848 |
|  | Saudi Awwal Bank | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58172 |
|  | Saudi Basic Industries Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82008 |
|  | Saudi Industrial Investment Group | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8773 |
|  | Saudi Investment Bank | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3966 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15354 |
|  | Saudi National Bank | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;15624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150470 |
|  | Saudi Telecom Co. | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;10416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118143 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Yanbu National Petrochemical Co. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 1536 | &nbsp;&nbsp; 12368 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;902826 |
|  | **Singapore 0.1%** |  |  |  |
| <sup>a</sup> | BOC Aviation Ltd., Class A | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp; 1200 | &nbsp;&nbsp; 9936 |
|  | **South Africa 3.1%** |  |  |  |
|  | Absa Group Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 4884 | &nbsp;&nbsp; 48369 |
|  | Bidvest Group Ltd. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp; 594 | &nbsp;&nbsp; 7805 |
|  | FirstRand Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp; 31650 | &nbsp;&nbsp; 134801 |
|  | Gold Fields Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 762 | &nbsp;&nbsp; 17828 |
|  | Kumba Iron Ore Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5485 |
|  | Mr. Price Group Ltd. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19961 |
|  | Naspers Ltd., Class N | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55864 |
|  | Nedbank Group Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39307 |
|  | Old Mutual Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;25734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17478 |
|  | Sanlam Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;10926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54516 |
|  | Standard Bank Group Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102247 |
|  | Vodacom Group Ltd. | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3396 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26123 |
|  | Woolworths Holdings Ltd. | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16497 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;546281 |
|  | **South Korea 4.6%** |  |  |  |
| <sup>b</sup> | Alteogen, Inc., Class A | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13230 |
|  | Coway Co. Ltd. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15923 |
|  | DB Insurance Co. Ltd., Class A | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21926 |
|  | Hankook Tire & Technology Co. Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12194 |
|  | Hanmi Semiconductor Co. Ltd. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11337 |
|  | Hyundai Motor Co. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80519 |
|  | Industrial Bank of Korea | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19402 |
|  | Kia Corp. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98652 |
|  | KT&G Corp. | &nbsp;&nbsp;Tobacco | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13058 |
|  | LG Uplus Corp. | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1242 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13160 |
|  | NH Investment & Securities Co. Ltd., Class C | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13508 |
|  | Samsung Card Co. Ltd. | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5271 |
|  | Samsung Electronics Co. Ltd. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284245 |
|  | Samsung Fire & Marine Insurance Co. Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9647 |
|  | Samsung Securities Co. Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19960 |
|  | SK Hynix, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109911 |
|  | SK Telecom Co. Ltd. | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25712 |
|  | Woori Financial Group, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61282 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;828937 |
|  | **Taiwan 20.8%** |  |  |  |
|  | Accton Technology Corp. | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10546 |
|  | Acer, Inc., Class H | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18670 |
|  | Advantech Co. Ltd. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19437 |
|  | Alchip Technologies Ltd. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24474 |
|  | ASE Technology Holding Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100986 |
|  | Asia Cement Corp. | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;15600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22776 |
|  | Asustek Computer, Inc. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5291 |
|  | AUO Corp., Class H | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;42200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17841 |
|  | Catcher Technology Co. Ltd. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29682 |
|  | Chailease Holding Co. Ltd., Class A | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;10240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44343 |
|  | Cheng Shin Rubber Industry Co. Ltd., Class A | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;14400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18633 |
|  | Chicony Electronics Co. Ltd. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17801 |
|  | Compal Electronics, Inc., Class H | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;27000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26804 |
|  | CTBC Financial Holding Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;75000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112197 |
|  | Delta Electronics, Inc., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21207 |
|  | E Ink Holdings, Inc. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18913 |
|  | Elite Material Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13406 |
|  | eMemory Technology, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;292 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23590 |
|  | Eva Airways Corp., Class H | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp;&nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24586 |
|  | Evergreen Marine Corp. Taiwan Ltd. | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40874 |
|  | Far Eastern New Century Corp. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6757 |
|  | Formosa Chemicals & Fibre Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;26000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20382 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| Formosa Petrochemical Corp. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 8400 | &nbsp;&nbsp; 10352 |
| Fortune Electric Co. Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp; 306 | &nbsp;&nbsp; 5898 |
| Gigabyte Technology Co. Ltd. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp; 1500 | &nbsp;&nbsp; 14532 |
| Globalwafers Co. Ltd. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 1440 | &nbsp;&nbsp; 14862 |
| Hon Hai Precision Industry Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp; 24800 | &nbsp;&nbsp; 136684 |
| Hua Nan Financial Holdings Co. Ltd., Class C | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 42000 | &nbsp;&nbsp; 39107 |
| Innolux Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp; 54000 | &nbsp;&nbsp; 21628 |
| International Games System Co. Ltd. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp; 1000 | &nbsp;&nbsp; 29371 |
| Inventec Corp. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp; 18000 | &nbsp;&nbsp; 26065 |
| Largan Precision Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45218 |
| Lite-On Technology Corp. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;13000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49175 |
| Lotes Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26896 |
| MediaTek, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221228 |
| Micro-Star International Co. Ltd. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19649 |
| momo.com, Inc. | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5277 |
| Nien Made Enterprise Co. Ltd. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15903 |
| Novatek Microelectronics Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69403 |
| Pegatron Corp. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31549 |
| Phison Electronics Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17219 |
| Powertech Technology, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18907 |
| Realtek Semiconductor Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58229 |
| Ruentex Development Co. Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12221 |
| Synnex Technology International Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18518 |
| Taiwan Mobile Co. Ltd. | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33069 |
| Taiwan Semiconductor Manufacturing Co. Ltd. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;48230 | &nbsp;&nbsp;&nbsp;&nbsp;1750096 |
| Teco Electric & Machinery Co. Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14573 |
| Tripod Technology Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25418 |
| Unimicron Technology Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35123 |
| United Microelectronics Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;78000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118020 |
| Vanguard International Semiconductor Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20597 |
| Voltronic Power Technology Corp. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16391 |
| Walsin Lihwa Corp. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;17952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13274 |
| Wistron Corp. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25161 |
| Wiwynn Corp. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53697 |
| WPG Holdings Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24031 |
| Yageo Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29055 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;3705592 |
| **Thailand 1.3%** |  |  |  |
| Advanced Info Service PCL, NVDR | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61571 |
| Bangkok Bank PCL, Class A, NVDR | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10262 |
| Central Pattana PCL, Class A, NVDR | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11950 |
| Charoen Pokphand Foods PCL, Class A, NVDR | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;19200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13584 |
| Home Product Center PCL, NVDR | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;24600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4919 |
| Kasikornbank PCL, NVDR | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25498 |
| Krung Thai Bank PCL, NVDR | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;21600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14152 |
| PTT Exploration & Production PCL, NVDR | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28294 |
| PTT PCL, NVDR | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;52200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48172 |
| TMBThanachart Bank PCL, NVDR | &nbsp;&nbsp;Banks | &nbsp;&nbsp;250800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14581 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232983 |
| **Turkey 0.6%** |  |  |  |
| Enka Insaat ve Sanayi AS | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8707 |
| Ford Otomotiv Sanayi AS | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9016 |
| Haci Omer Sabanci Holding AS | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16410 |
| KOC Holding AS | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16927 |
| Tofas Turk Otomobil Fabrikasi AS | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3698 |
| Turkcell Iletisim Hizmetleri AS | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16643 |
| Turkiye Garanti Bankasi AS | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11277 |
| Turkiye Petrol Rafinerileri AS | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5574 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19610 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102288 |
| **United Arab Emirates 4.0%** |  |  |  |
| Abu Dhabi Commercial Bank PJSC | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;17640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64742 |
| Abu Dhabi Islamic Bank PJSC | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50541 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Abu Dhabi National Oil Co. for Distribution PJSC | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp; 17616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17602 |
|  | ADNOC Drilling Co. PJSC | &nbsp;&nbsp;Energy Equipment & Services | &nbsp;&nbsp; 3180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4935 |
|  | Dubai Electricity & Water Authority PJSC | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp; 55152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42346 |
|  | Dubai Islamic Bank PJSC | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 17202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42480 |
|  | Emaar Development PJSC | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp; 5298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19473 |
|  | Emaar Properties PJSC | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp; 36900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 136635 |
|  | Emirates Integrated Telecommunications Co. PJSC | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp; 5418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14633 |
|  | Emirates NBD Bank PJSC | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 14274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 88609 |
|  | Emirates Telecommunications Group Co. PJSC | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp; 21378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 102442 |
|  | First Abu Dhabi Bank PJSC | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;23706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107143 |
|  | Pure Health Holding PJSC | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;14964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10960 |
|  | Salik Co. PJSC | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;11016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18146 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720687 |
|  | **Total Common Stocks (Cost $15,829,526)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17349813 |
|  | **Preferred Stocks 2.3%** |  |  |  |
|  | **Brazil 1.7%** |  |  |  |
| <sup>e</sup> | Cia Energetica de Minas Gerais, 16.667%, pfd. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;11400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22558 |
| <sup>e</sup> | Cia Paranaense de Energia - Copel, Class B, 6.188%, pfd. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15068 |
| <sup>e</sup> | Itau Unibanco Holding SA, 6.217%, pfd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93427 |
| <sup>e</sup> | Itausa SA, 7.489%, pfd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;38400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77041 |
| <sup>e</sup> | Petroleo Brasileiro SA - Petrobras, 10.108%, pfd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;18600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106941 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315035 |
|  | **Colombia 0.2%** |  |  |  |
| <sup>e</sup> | Grupo Cibest SA, 9.801%, pfd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30781 |
|  | **Russia 0.0%** |  |  |  |
| <sup>b,d</sup> | Surgutneftegas PAO, pfd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;162582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | **South Korea 0.4%** |  |  |  |
| <sup>e</sup> | Hyundai Motor Co., 7.93%, pfd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15542 |
| <sup>e</sup> | Hyundai Motor Co., 8.123%, pfd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9616 |
| <sup>e</sup> | Samsung Electronics Co. Ltd., 2.931%, pfd. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1098 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40272 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65430 |
|  | **Total Preferred Stocks (Cost $444,467)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;411246 |
|  | **Total Investments before Short-Term Investments (Cost $16,273,993)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17761059 |
|  | **Short-Term Investments 0.0%<sup>†</sup>** |  |  |  |
|  | **Money Market Funds 0.0%<sup>†</sup>** |  |  |  |
|  | **United States 0.0%<sup>†</sup>** |  |  |  |
| <sup>f,g</sup> | Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67 |
|  | **Total Short-Term Investments (Cost $67)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67 |
|  | **Total Investments (Cost $16,274,060) 99.5%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17761126 |
|  | **Other Assets, less Liabilities 0.5%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96112 |
|  | **Net Assets 100.0%** |  |  | &nbsp;&nbsp;$17857238 |

---

---

| |
|:---|
| <sup>†</sup>Rounds to less than 0.1% of net assets. |
| <sup>a</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional buyers or in a public offering registered under the Securities Act of 1933. At June 30, 2025, the aggregate value of these securities was $781,232, representing 4.4% of net assets. |
| <sup>b</sup>Non-income producing. |
| <sup>c</sup>Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption from registration. At June 30, 2025, the aggregate value of these securities was $36,689, representing 0.2% of net assets. |
| <sup>d</sup>Fair valued using significant unobservable inputs. See Note 5 regarding fair value measurements. |
| <sup>e</sup>Variable rate security. The rate shown represents the yield at period end. |
| <sup>f</sup>The rate shown is the annualized seven-day effective yield at period end. |
| <sup>g</sup>See Note 3 regarding investments in affiliated management investment companies. |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

At June 30, 2025, the Fund had the following futures contracts outstanding.

#### Futures Contracts

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Type** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Notional<br> Amount\*** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value/Unrealized<br> Appreciation<br> (Depreciation)** |
| **Equity Contracts** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;MSCI Emerging Markets Index | &nbsp;&nbsp;Long | &nbsp;&nbsp;2 | &nbsp;&nbsp;$123350 | &nbsp;&nbsp;9/19/25 | &nbsp;&nbsp;$2286 |

---

\*As of period end.

#### Abbreviations

---

| | |
|:---|:---|
| **Selected Portfolio** |  |
| **GDR** | Global Depositary Receipt |
| **NVDR** | Non-Voting Depositary Receipt |
| **REIT** | Real Estate Investment Trust |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Franklin Exponential Data ETF** | &nbsp;&nbsp;**Country** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
|  | **Common Stocks 97.2%** |  |  |  |
|  | **Capital Markets 3.7%** |  |  |  |
| <sup>a</sup> | Coinbase Global, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp; 157 | &nbsp;&nbsp;$55027 |
|  | FactSet Research Systems, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 21 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9393 |
|  | Moody's Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20063 |
|  | MSCI, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19609 |
|  | Tradeweb Markets, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp; 317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 46409 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150501 |
|  | **Communications Equipment 1.1%** |  |  |  |
| <sup>a</sup> | Arista Networks, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44403 |
|  | **Diversified Consumer Services 1.7%** |  |  |  |
| <sup>a</sup> | Duolingo, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69293 |
|  | **Entertainment 3.3%** |  |  |  |
| <sup>a</sup> | Netflix, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133913 |
|  | **Health Care Technology 3.7%** |  |  |  |
| <sup>a</sup> | Doximity, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40178 |
| <sup>a</sup> | Schrodinger, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33017 |
|  | Simulations Plus, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11255 |
| <sup>a</sup> | Veeva Systems, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46653 |
| <sup>a</sup> | Waystar Holding Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;503 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20557 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151660 |
|  | **Insurance 0.4%** |  |  |  |
| <sup>a</sup> | Root, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16508 |
|  | **Interactive Media & Services 14.0%** |  |  |  |
|  | Alphabet, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178345 |
|  | Meta Platforms, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312212 |
| <sup>a</sup> | Pinterest, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21408 |
| <sup>a</sup> | Reddit, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51043 |
| <sup>a</sup> | Snap, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9342 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;572350 |
|  | **IT Services 15.5%** |  |  |  |
| <sup>a</sup> | Akamai Technologies, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16829 |
| <sup>a</sup> | Cloudflare, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334869 |
| <sup>a</sup> | Gartner, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23445 |
| <sup>a</sup> | GoDaddy, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56179 |
| <sup>a</sup> | Kyndryl Holdings, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10826 |
| <sup>a</sup> | MongoDB, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31499 |
| <sup>a</sup> | Snowflake, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121507 |
| <sup>a</sup> | Wix.com Ltd. | &nbsp;&nbsp;Israel | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41833 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;636987 |
|  | **Media 0.8%** |  |  |  |
| <sup>a</sup> | Trade Desk, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35491 |
|  | **Professional Services 1.4%** |  |  |  |
|  | TransUnion | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16544 |
|  | Verisk Analytics, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40184 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56728 |
|  | **Software 47.6%** |  |  |  |
| <sup>a</sup> | AppLovin Corp., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126379 |
| <sup>a</sup> | Aurora Innovation, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27190 |
| <sup>a</sup> | Clearwater Analytics Holdings, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15461 |
| <sup>a</sup> | Confluent, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53076 |
|  | Constellation Software, Inc. | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51231 |
| <sup>a</sup> | Crowdstrike Holdings, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157377 |
| <sup>a</sup> | Datadog, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56016 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| <sup>a</sup> | Fair Isaac Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 93226 |
| <sup>a</sup> | Fortinet, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 747 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 78973 |
| <sup>a</sup> | Gitlab, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp; 740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33381 |
| <sup>a</sup> | Guidewire Software, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42852 |
| <sup>a</sup> | HubSpot, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 96 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 53437 |
| <sup>a</sup> | Life360, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 812 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52983 |
|  | Microsoft Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 240249 |
| <sup>a</sup> | Monday.com Ltd. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100948 |
| <sup>a</sup> | Nutanix, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp; 135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10319 |
| <sup>a</sup> | Palantir Technologies, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56437 |
| <sup>a</sup> | Palo Alto Networks, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144271 |
| <sup>a</sup> | Q2 Holdings, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19654 |
| <sup>a</sup> | Qualys, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12287 |
| <sup>a</sup> | Rubrik, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9945 |
|  | Salesforce, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61628 |
| <sup>a</sup> | Samsara, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25061 |
| <sup>a</sup> | SentinelOne, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24513 |
| <sup>a</sup> | ServiceNow, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233374 |
| <sup>a</sup> | ServiceTitan, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34083 |
|  | Trend Micro, Inc. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46623 |
| <sup>a</sup> | Tyler Technologies, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19564 |
| <sup>a</sup> | Vertex, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3710 |
| <sup>a</sup> | Zscaler, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66241 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1950489 |
|  | **Specialized REITs 1.9%** |  |  |  |
|  | Crown Castle, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21881 |
|  | Equinix, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35796 |
|  | SBA Communications Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22310 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79987 |
|  | **Wireless Telecommunication Services 2.1%** |  |  |  |
|  | T-Mobile U.S., Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85297 |
|  | **Total Common Stocks (Cost $3,121,503)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3983607 |
|  | **Total Investments before Short-Term Investments<br> (Cost $3,121,503)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3983607 |
|  | **Short-Term Investments 2.6%** |  |  |  |
|  | **Money Market Funds 2.6%** |  |  |  |
| <sup>b,c</sup> | Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;United States | &nbsp;&nbsp;106285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106285 |
|  | **Total Short-Term Investments (Cost $106,285)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106285 |
|  | **Total Investments (Cost $3,227,788) 99.8%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4089892 |
|  | **Other Assets, less Liabilities 0.2%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7429 |
|  | **Net Assets 100.0%** |  |  | &nbsp;&nbsp;$4097321 |

---

<sup>a</sup>Non-income producing. <br> <sup>b</sup>The rate shown is the annualized seven-day effective yield at period end. <br> <sup>c</sup>See Note 3 regarding investments in affiliated management investment companies.

#### Abbreviations

---

| | |
|:---|:---|
| **Selected Portfolio** |  |
| **REIT** | Real Estate Investment Trust |
| **SBA** | Small Business Administration |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Franklin Focused Growth ETF** | &nbsp;&nbsp;**Country** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
|  | **Common Stocks 99.8%** |  |  |  |
|  | **Aerospace & Defense 2.9%** |  |  |  |
| <sup>a</sup> | Axon Enterprise, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5272 | &nbsp;&nbsp;$4364900 |
|  | **Automobiles 3.6%** |  |  |  |
| <sup>a</sup> | Tesla, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 16702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5305557 |
|  | **Biotechnology 1.4%** |  |  |  |
| <sup>a</sup> | Argenx SE, ADR | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp; 1079 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 594766 |
| <sup>a</sup> | Natera, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 8917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1506438 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2101204 |
|  | **Broadline Retail 10.7%** |  |  |  |
| <sup>a</sup> | Amazon.com, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;59845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13129395 |
| <sup>a</sup> | MercadoLibre, Inc. | &nbsp;&nbsp;Brazil | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2872379 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16001774 |
|  | **Capital Markets 2.3%** |  |  |  |
| <sup>a</sup> | Robinhood Markets, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;13410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1255578 |
|  | Tradeweb Markets, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;14459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2116798 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3372376 |
|  | **Consumer Staples Distribution & Retail 3.8%** |  |  |  |
|  | Costco Wholesale Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5633749 |
|  | **Diversified Consumer Services 0.4%** |  |  |  |
| <sup>a</sup> | Duolingo, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625280 |
|  | **Entertainment 4.4%** |  |  |  |
| <sup>a</sup> | Netflix, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4176747 |
| <sup>a</sup> | ROBLOX Corp., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;755336 |
| <sup>a</sup> | Sea Ltd., ADR | &nbsp;&nbsp;Singapore | &nbsp;&nbsp;&nbsp;&nbsp;10413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1665455 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6597538 |
|  | **Financial Services 4.1%** |  |  |  |
|  | Mastercard, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;10914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6133013 |
|  | **Health Care Equipment & Supplies 2.5%** |  |  |  |
| <sup>a</sup> | Intuitive Surgical, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3760941 |
|  | **Health Care Technology 0.7%** |  |  |  |
| <sup>a</sup> | Doximity, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;16091 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;987022 |
|  | **Hotels, Restaurants & Leisure 1.6%** |  |  |  |
| <sup>a</sup> | DoorDash, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2398296 |
|  | **Interactive Media & Services 12.0%** |  |  |  |
|  | Alphabet, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;27428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4833636 |
|  | Meta Platforms, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;17790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13130621 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17964257 |
|  | **IT Services 3.9%** |  |  |  |
| <sup>a</sup> | Cloudflare, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;12074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2364452 |
| <sup>a</sup> | Shopify, Inc., Class A | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;29735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3429932 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5794384 |
|  | **Pharmaceuticals 2.2%** |  |  |  |
|  | Eli Lilly & Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3250640 |
|  | **Semiconductors & Semiconductor Equipment 21.5%** |  |  |  |
|  | Analog Devices, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1512141 |
|  | ASML Holding NV | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;962469 |
|  | Broadcom, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;27227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7505123 |
|  | NVIDIA Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;115495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18247055 |
|  | Taiwan Semiconductor Manufacturing Co. Ltd., ADR | &nbsp;&nbsp;Taiwan | &nbsp;&nbsp;&nbsp;&nbsp;17433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3948400 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32175188 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Software 21.8%** |  |  |  |
| <sup>a</sup> | AppLovin Corp., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp; 7549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2642754 |
| <sup>a</sup> | Cadence Design Systems, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 15640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4819466 |
|  | Constellation Software, Inc. | &nbsp;&nbsp;Canada | &nbsp;&nbsp; 507 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1855297 |
| <sup>a</sup> | HubSpot, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 662946 |
|  | Intuit, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1457903 |
|  | Microsoft Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 31070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15454529 |
| <sup>a</sup> | ServiceNow, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5736686 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32629581 |
|  | **Total Common Stocks (Cost $105,444,123)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149095700 |
|  | **Total Investments before Short-Term Investments<br> (Cost $105,444,123)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149095700 |
|  | **Short-Term Investments 0.2%** |  |  |  |
|  | **Money Market Funds 0.2%** |  |  |  |
| <sup>b,c</sup> | Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;United States | &nbsp;&nbsp;262450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262450 |
|  | **Total Short-Term Investments (Cost $262,450)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262450 |
|  | **Total Investments (Cost $105,706,573) 100.0%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149358150 |
|  | **Other Assets, less Liabilities (0.0)%<sup>†</sup>** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(37749) |
|  | **Net Assets 100.0%** |  |  | &nbsp;&nbsp;$149320401 |

---

---

| |
|:---|
| <sup>†</sup>Rounds to less than 0.1% of net assets. |
| <sup>a</sup>Non-income producing. |
| <sup>b</sup>The rate shown is the annualized seven-day effective yield at period end. |
| <sup>c</sup>See Note 3 regarding investments in affiliated management investment companies. |

---

#### Abbreviations

---

| | |
|:---|:---|
| **Selected Portfolio** |  |
| **ADR** | American Depositary Receipt |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Franklin FTSE Asia ex Japan ETF** | &nbsp;&nbsp;**Industry** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
|  | **Common Stocks 100.2%** |  |  |  |
|  | **Cambodia 0.0%<sup>†</sup>** |  |  |  |
| <sup>a</sup> | NagaCorp Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp; 6000 | &nbsp;&nbsp;$2721 |
|  | **China 33.0%** |  |  |  |
|  | 360 Security Technology, Inc., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp; 2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3417 |
|  | 37 Interactive Entertainment Network Technology Group Co. Ltd., Class A | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp; 600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1448 |
| <sup>b</sup> | 3SBio, Inc., Class A | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp; 6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18076 |
|  | AAC Technologies Holdings, Inc., Class H | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp; 2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12962 |
| <sup>a</sup> | Advanced Micro-Fabrication Equipment, Inc. China, Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6235 |
|  | AECC Aero-Engine Control Co. Ltd., Class A | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1159 |
|  | AECC Aviation Power Co. Ltd., Class A | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3766 |
|  | Agricultural Bank of China Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19701 |
|  | Agricultural Bank of China Ltd., Class H | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;114000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81325 |
|  | Aier Eye Hospital Group Co. Ltd., Class A | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4626 |
| <sup>a</sup> | Air China Ltd., Class A | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3965 |
| <sup>a</sup> | Air China Ltd., Class H | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4555 |
|  | Airtac International Group, Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16101 |
| <sup>a,b</sup> | Akeso, Inc. | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28112 |
|  | Alibaba Group Holding Ltd., Class A | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;931552 |
|  | Aluminum Corp. of China Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3538 |
|  | Aluminum Corp. of China Ltd., Class H | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10762 |
|  | An Hui Wenergy Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;586 |
| <sup>a</sup> | Angang Steel Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;583 |
|  | Anhui Conch Cement Co. Ltd., Class A | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3597 |
|  | Anhui Conch Cement Co. Ltd., Class H | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11442 |
|  | Anhui Expressway Co. Ltd., Class H | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3210 |
|  | Anhui Gujing Distillery Co. Ltd., Class A | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1859 |
|  | Anhui Gujing Distillery Co. Ltd., Class B | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8025 |
|  | Anhui Jianghuai Automobile Group Corp. Ltd., Class A | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3358 |
|  | Anjoy Foods Group Co. Ltd., Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1123 |
|  | Anker Innovations Technology Co. Ltd., Class A | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3172 |
|  | ANTA Sports Products Ltd., Class A | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57783 |
|  | Autohome, Inc., ADR | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5880 |
|  | Avary Holding Shenzhen Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2683 |
|  | AviChina Industry & Technology Co. Ltd., Class H | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6772 |
|  | Avicopter PLC, Class A | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1084 |
| <sup>a</sup> | BAIC BluePark New Energy Technology Co. Ltd., Class A | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1852 |
| <sup>a,b</sup> | BAIC Motor Corp. Ltd., Class H | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2224 |
| <sup>a</sup> | Baidu, Inc., Class A | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86108 |
|  | Bank of Beijing Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5721 |
|  | Bank of Changsha Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1665 |
|  | Bank of Chengdu Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3367 |
|  | Bank of China Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10356 |
|  | Bank of China Ltd., Class H | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;270000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156841 |
|  | Bank of Communications Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12732 |
|  | Bank of Communications Co. Ltd., Class H | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22318 |
|  | Bank of Guiyang Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1045 |
|  | Bank of Hangzhou Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4227 |
|  | Bank of Jiangsu Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9001 |
|  | Bank of Nanjing Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4867 |
|  | Bank of Ningbo Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6875 |
|  | Bank of Shanghai Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6221 |
|  | Baoshan Iron & Steel Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6072 |
|  | Beijing Capital Eco-Environment Protection Group Co. Ltd., Class A | &nbsp;&nbsp;Water Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1012 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| <sup>a</sup> | Beijing Capital International Airport Co. Ltd., Class H | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp; 8000 | &nbsp;&nbsp; 3017 |
|  | Beijing Dabeinong Technology Group Co. Ltd., Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp; 1800 | &nbsp;&nbsp; 1015 |
|  | Beijing Enlight Media Co. Ltd., Class A | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp; 1200 | &nbsp;&nbsp; 3396 |
|  | Beijing Enterprises Holdings Ltd., Class H | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp; 2000 | &nbsp;&nbsp; 8229 |
| <sup>a</sup> | Beijing Kingsoft Office Software, Inc., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp; 128 | &nbsp;&nbsp; 5004 |
|  | Beijing New Building Materials PLC, Class A | &nbsp;&nbsp;Building Products | &nbsp;&nbsp; 600 | &nbsp;&nbsp; 2218 |
|  | Beijing Originwater Technology Co. Ltd., Class A | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp; 1200 | &nbsp;&nbsp; 754 |
|  | Beijing Shiji Information Technology Co. Ltd., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp; 600 | &nbsp;&nbsp; 725 |
|  | Beijing Sinnet Technology Co. Ltd., Class A | &nbsp;&nbsp;IT Services | &nbsp;&nbsp; 600 | &nbsp;&nbsp; 1198 |
|  | Beijing Tiantan Biological Products Corp. Ltd., Class A | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1929 |
|  | Beijing Tong Ren Tang Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3020 |
| <sup>a</sup> | Beijing Ultrapower Software Co. Ltd., Class A | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;988 |
| <sup>a</sup> | Beijing Wantai Biological Pharmacy Enterprise Co. Ltd., Class A | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2580 |
|  | Beijing Yanjing Brewery Co. Ltd., Class A | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2166 |
| <sup>a</sup> | Beijing-Shanghai High Speed Railway Co. Ltd., Class A | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9151 |
| <sup>a</sup> | BeOne Medicines Ltd. | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62132 |
| <sup>a</sup> | Bilibili, Inc., Class Z | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23072 |
| <sup>b</sup> | Blue Moon Group Holdings Ltd. | &nbsp;&nbsp;Household Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1571 |
|  | Bluefocus Intelligent Communications Group Co. Ltd., Class A | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;769 |
|  | BOC Hong Kong Holdings Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58643 |
|  | BOE Technology Group Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6350 |
|  | BOE Technology Group Co. Ltd., Class B | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1197 |
|  | Brilliance China Automotive Holdings Ltd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4861 |
| <sup>b</sup> | Budweiser Brewing Co. APAC Ltd., Class H | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6533 |
|  | BYD Co. Ltd., Class A | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23168 |
|  | BYD Co. Ltd., Class H | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215725 |
|  | BYD Electronic International Co. Ltd. | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12153 |
|  | By-health Co. Ltd., Class A | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;941 |
|  | C&D International Investment Group Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6069 |
|  | Caitong Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1325 |
| <sup>a</sup> | Cambricon Technologies Corp. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12596 |
| <sup>a</sup> | CCOOP Group Co. Ltd., Class A | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1749 |
|  | CECEP Solar Energy Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;735 |
|  | CECEP Wind-Power Corp., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;726 |
|  | CGN Power Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3049 |
| <sup>b</sup> | CGN Power Co. Ltd., Class H | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12245 |
| <sup>a</sup> | Changchun High-Tech Industry Group Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1385 |
|  | Changjiang Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1741 |
|  | Changzhou Xingyu Automotive Lighting Systems Co. Ltd., Class A | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1745 |
|  | Chaozhou Three-Circle Group Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2798 |
|  | Chengdu Xingrong Environment Co. Ltd., Class A | &nbsp;&nbsp;Water Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1208 |
|  | China Baoan Group Co. Ltd., Class A | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;744 |
| <sup>a,b</sup> | China Bohai Bank Co. Ltd., Class H | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1360 |
| <sup>a</sup> | China Cinda Asset Management Co. Ltd., Class H | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6145 |
|  | China CITIC Bank Corp. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4272 |
|  | China CITIC Bank Corp. Ltd., Class H | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34303 |
| <sup>a,b</sup> | China CITIC Financial Asset Management Co. Ltd., Class H | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11740 |
|  | China Coal Energy Co. Ltd., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2749 |
|  | China Coal Energy Co. Ltd., Class H | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9253 |
|  | China Communications Services Corp. Ltd., Class H | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4331 |
|  | China Conch Venture Holdings Ltd. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6925 |
|  | China Construction Bank Corp., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3954 |

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FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

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| | | | | |
|:---|:---|:---|:---|:---|
|  | China Construction Bank Corp., Class H | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 360000 | &nbsp;&nbsp; 363210 |
|  | China CSSC Holdings Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 1200 | &nbsp;&nbsp; 5451 |
| <sup>a</sup> | China Eastern Airlines Corp. Ltd., Class A | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp; 5400 | &nbsp;&nbsp; 3038 |
| <sup>a</sup> | China Eastern Airlines Corp. Ltd., Class H | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp; 12000 | &nbsp;&nbsp; 4831 |
|  | China Energy Engineering Corp. Ltd., Class A | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp; 10200 | &nbsp;&nbsp; 3175 |
|  | China Energy Engineering Corp. Ltd., Class H | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp; 24000 | &nbsp;&nbsp; 3210 |
|  | China Everbright Bank Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 13200 | &nbsp;&nbsp; 7647 |
|  | China Everbright Bank Co. Ltd., Class H | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 12000 | &nbsp;&nbsp; 5992 |
| <sup>b</sup> | China Feihe Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp; 12000 | &nbsp;&nbsp; 8729 |
|  | China Galaxy Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4310 |
|  | China Galaxy Securities Co. Ltd., Class H | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13498 |
|  | China Great Wall Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1404 |
| <sup>a</sup> | China Greatwall Technology Group Co. Ltd., Class A | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2479 |
|  | China Hongqiao Group Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20614 |
|  | China International Capital Corp. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4443 |
| <sup>b</sup> | China International Capital Corp. Ltd., Class H | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10823 |
|  | China International Marine Containers Group Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;658 |
|  | China International Marine Containers Group Co. Ltd., Class H | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2369 |
|  | China Jinmao Holdings Group Ltd., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3638 |
|  | China Jushi Co. Ltd., Class A | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1910 |
|  | China Lesso Group Holdings Ltd. | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3203 |
|  | China Life Insurance Co. Ltd., Class H | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64800 |
| <sup>a,b</sup> | China Literature Ltd., Class A | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4563 |
|  | China Longyuan Power Group Corp. Ltd., Class H | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10808 |
|  | China Medical System Holdings Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9172 |
|  | China Merchants Bank Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38489 |
|  | China Merchants Bank Co. Ltd., Class H | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97822 |
|  | China Merchants Energy Shipping Co. Ltd., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2622 |
|  | China Merchants Expressway Network & Technology Holdings Co. Ltd., Class A | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3015 |
|  | China Merchants Port Holdings Co. Ltd. | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7979 |
|  | China Merchants Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5893 |
| <sup>b</sup> | China Merchants Securities Co. Ltd., Class H | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2168 |
|  | China Merchants Shekou Industrial Zone Holdings Co. Ltd., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2938 |
|  | China Minsheng Banking Corp. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6764 |
|  | China Minsheng Banking Corp. Ltd., Class H | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13605 |
|  | China National Building Material Co. Ltd., Class H | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6449 |
|  | China National Chemical Engineering Co. Ltd., Class A | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1927 |
|  | China National Nuclear Power Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7807 |
| <sup>a</sup> | China National Software & Service Co. Ltd., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1698 |
|  | China Northern Rare Earth Group High-Tech Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4171 |
|  | China Oilfield Services Ltd., Class A | &nbsp;&nbsp;Energy Equipment & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1153 |
|  | China Oilfield Services Ltd., Class H | &nbsp;&nbsp;Energy Equipment & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6563 |
|  | China Overseas Land & Investment Ltd., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26025 |
|  | China Pacific Insurance Group Co. Ltd., Class A | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9426 |
|  | China Pacific Insurance Group Co. Ltd., Class H | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32836 |
|  | China Petroleum & Chemical Corp., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8031 |
|  | China Petroleum & Chemical Corp., Class H | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45027 |
|  | China Railway Group Ltd., Class A | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4699 |
|  | China Railway Group Ltd., Class H | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8622 |
|  | China Railway Signal & Communication Corp. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1435 |
| <sup>b</sup> | China Railway Signal & Communication Corp. Ltd., Class H | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2469 |

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FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

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| | | | | |
|:---|:---|:---|:---|:---|
| <sup>a</sup> | China Rare Earth Resources & Technology Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 600 | &nbsp;&nbsp; 3025 |
|  | China Reinsurance Group Corp., Class H | &nbsp;&nbsp;Insurance | &nbsp;&nbsp; 24000 | &nbsp;&nbsp; 3730 |
|  | China Resources Building Materials Technology Holdings Ltd. | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp; 12000 | &nbsp;&nbsp; 2568 |
|  | China Resources Double Crane Pharmaceutical Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp; 600 | &nbsp;&nbsp; 1563 |
|  | China Resources Microelectronics Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 395 | &nbsp;&nbsp; 2601 |
| <sup>b</sup> | China Resources Mixc Lifestyle Services Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp; 2400 | &nbsp;&nbsp; 11603 |
| <sup>b</sup> | China Resources Pharmaceutical Group Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp; 6000 | &nbsp;&nbsp; 3913 |
|  | China Resources Power Holdings Co. Ltd. | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp; 7200 | &nbsp;&nbsp; 17372 |
|  | China Resources Sanjiu Medical & Pharmaceutical Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp; 468 | &nbsp;&nbsp; 2044 |
| <sup>a</sup> | China Ruyi Holdings Ltd. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15470 |
|  | China Shenhua Energy Co. Ltd., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10187 |
|  | China Shenhua Energy Co. Ltd., Class H | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46548 |
|  | China South Publishing & Media Group Co. Ltd., Class A | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1099 |
| <sup>a</sup> | China Southern Airlines Co. Ltd., Class A | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2965 |
| <sup>a</sup> | China Southern Airlines Co. Ltd., Class H | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3073 |
| <sup>a</sup> | China State Construction Engineering Corp. Ltd., Class A | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9183 |
| <sup>a</sup> | China Suntien Green Energy Corp. Ltd., Class H | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3371 |
|  | China Taiping Insurance Holdings Co. Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9355 |
|  | China Three Gorges Renewables Group Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4996 |
|  | China Tourism Group Duty Free Corp. Ltd., Class A | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5107 |
| <sup>b</sup> | China Tourism Group Duty Free Corp. Ltd., Class H | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3982 |
| <sup>b</sup> | China Tower Corp. Ltd., Class H | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25727 |
|  | China United Network Communications Ltd., Class A | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6262 |
| <sup>a</sup> | China Vanke Co. Ltd., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2689 |
| <sup>a</sup> | China Vanke Co. Ltd., Class H | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5606 |
|  | China XD Electric Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1543 |
|  | China Yangtze Power Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27770 |
|  | China Zheshang Bank Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2840 |
|  | China Zheshang Bank Co. Ltd., Class H | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4510 |
| <sup>a</sup> | Chongqing Changan Automobile Co. Ltd., Class A | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4275 |
| <sup>a</sup> | Chongqing Changan Automobile Co. Ltd., Class B | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3623 |
| <sup>a</sup> | Chongqing Qianli Technology Co. Ltd., Class A | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2133 |
|  | Chongqing Rural Commercial Bank Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2990 |
|  | Chongqing Rural Commercial Bank Co. Ltd., Class H | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5067 |
|  | Chongqing Zhifei Biological Products Co. Ltd., Class A | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1914 |
|  | Chow Tai Fook Jewellery Group Ltd., Class A | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10257 |
|  | CITIC Ltd., Class B | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24718 |
|  | Citic Pacific Special Steel Group Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2430 |
|  | CITIC Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13881 |
|  | CITIC Securities Co. Ltd., Class H | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18115 |
|  | CMOC Group Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5642 |
|  | CMOC Group Ltd., Class H | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15248 |
|  | CNGR Advanced Material Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;826 |
|  | CNOOC Energy Technology & Services Ltd., Class A | &nbsp;&nbsp;Energy Equipment & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1025 |
|  | CNPC Capital Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2446 |
|  | Contemporary Amperex Technology Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42253 |

---

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FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

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| | | | | |
|:---|:---|:---|:---|:---|
|  | COSCO SHIPPING Development Co. Ltd., Class A | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp; 3000 | &nbsp;&nbsp; 1034 |
|  | COSCO SHIPPING Development Co. Ltd., Class H | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp; 12000 | &nbsp;&nbsp; 1620 |
|  | COSCO SHIPPING Energy Transportation Co. Ltd., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 1200 | &nbsp;&nbsp; 1731 |
|  | COSCO SHIPPING Energy Transportation Co. Ltd., Class H | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 6000 | &nbsp;&nbsp; 4976 |
|  | COSCO SHIPPING Holdings Co. Ltd., Class A | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp; 4200 | &nbsp;&nbsp; 8818 |
|  | COSCO SHIPPING Holdings Co. Ltd., Class H | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp; 10500 | &nbsp;&nbsp; 18245 |
|  | Country Garden Services Holdings Co. Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp; 8000 | &nbsp;&nbsp; 6685 |
|  | CRRC Corp. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 7200 | &nbsp;&nbsp; 7076 |
|  | CRRC Corp. Ltd., Class H | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 18000 | &nbsp;&nbsp; 10869 |
|  | CSC Financial Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6043 |
| <sup>b</sup> | CSC Financial Co. Ltd., Class H | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4013 |
|  | CSG Holding Co. Ltd., Class B | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1101 |
|  | CSPC Innovation Pharmaceutical Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4330 |
|  | CSPC Pharmaceutical Group Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29427 |
|  | Daqin Railway Co. Ltd., Class A | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5528 |
| <sup>a</sup> | Daqo New Energy Corp., ADR | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2367 |
|  | Datang International Power Generation Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1062 |
|  | Datang International Power Generation Co. Ltd., Class H | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3057 |
|  | DHC Software Co. Ltd., Class A | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1608 |
|  | Dong-E-E-Jiao Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1460 |
|  | Dongfang Electric Corp. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2804 |
|  | Dongfang Electric Corp. Ltd., Class H | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2048 |
|  | Dongfeng Motor Group Co. Ltd., Class H | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3955 |
|  | Dongxing Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1868 |
| <sup>a,b</sup> | East Buy Holding Ltd. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3777 |
|  | East Money Information Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13562 |
|  | Eastroc Beverage Group Co. Ltd., Class A | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8768 |
|  | Ecovacs Robotics Co. Ltd., Class A | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1626 |
|  | Empyrean Technology Co. Ltd., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3459 |
|  | ENN Energy Holdings Ltd. | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23962 |
|  | ENN Natural Gas Co. Ltd., Class A | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3166 |
|  | Eoptolink Technology, Inc. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4965 |
| <sup>a,b,c</sup> | ESR Group Ltd., Class H | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15898 |
|  | Eve Energy Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3837 |
|  | Everbright Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3012 |
| <sup>a</sup> | Everdisplay Optronics Shanghai Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980 |
|  | Fangda Carbon New Material Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;777 |
|  | FAW Jiefang Group Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575 |
|  | Fiberhome Telecommunication Technologies Co. Ltd., Class A | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1174 |
|  | First Capital Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1186 |
|  | Flat Glass Group Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1274 |
|  | Flat Glass Group Co. Ltd., Class H | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2245 |
|  | Focus Media Information Technology Co. Ltd., Class A | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4280 |
|  | Foshan Haitian Flavouring & Food Co. Ltd., Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9778 |
|  | Fosun International Ltd. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5354 |
|  | Founder Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2650 |
|  | Foxconn Industrial Internet Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10745 |
|  | Fujian Funeng Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1615 |
|  | Fujian Sunner Development Co. Ltd., Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1197 |
|  | Full Truck Alliance Co. Ltd., ADR | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35147 |
|  | Fuyao Glass Industry Group Co. Ltd., Class A | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4775 |
| <sup>b</sup> | Fuyao Glass Industry Group Co. Ltd., Class H | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17136 |
|  | GalaxyCore, Inc., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2580 |
|  | Ganfeng Lithium Group Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2829 |

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FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

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| | | | | |
|:---|:---|:---|:---|:---|
| <sup>b</sup> | Ganfeng Lithium Group Co. Ltd., Class H | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 1800 | &nbsp;&nbsp; 5228 |
| <sup>a</sup> | GCL Technology Holdings Ltd. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 84000 | &nbsp;&nbsp; 10701 |
|  | GD Power Development Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp; 4800 | &nbsp;&nbsp; 3243 |
| <sup>a</sup> | GDS Holdings Ltd., Class A | &nbsp;&nbsp;IT Services | &nbsp;&nbsp; 3000 | &nbsp;&nbsp; 11274 |
|  | GEM Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp; 1200 | &nbsp;&nbsp; 1064 |
| <sup>a</sup> | Gemdale Corp., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp; 1200 | &nbsp;&nbsp; 635 |
| <sup>a</sup> | Genscript Biotech Corp. | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp; 4000 | &nbsp;&nbsp; 7541 |
|  | GF Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp; 1800 | &nbsp;&nbsp; 4224 |
|  | GF Securities Co. Ltd., Class H | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp; 3600 | &nbsp;&nbsp; 6044 |
| <sup>b</sup> | Giant Biogene Holding Co. Ltd. | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13231 |
|  | Giant Network Group Co. Ltd., Class A | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1973 |
| <sup>a</sup> | GigaDevice Semiconductor, Inc., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3533 |
|  | Glarun Technology Co. Ltd., Class A | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2638 |
|  | GoerTek, Inc., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3907 |
|  | Goldwind Science & Technology Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1717 |
|  | Goldwind Science & Technology Co. Ltd., Class H | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2284 |
|  | Goneo Group Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1886 |
| <sup>a</sup> | Gotion High-tech Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2719 |
| <sup>a</sup> | Great Wall Motor Co. Ltd., Class A | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3598 |
| <sup>a</sup> | Great Wall Motor Co. Ltd., Class H | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13850 |
|  | Gree Electric Appliances, Inc. of Zhuhai, Class A | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7525 |
| <sup>a</sup> | Greenland Holdings Corp. Ltd., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;683 |
|  | Greentown China Holdings Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3611 |
|  | GRG Banking Equipment Co. Ltd., Class A | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1126 |
|  | Guangdong Electric Power Development Co. Ltd., Class B | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;812 |
|  | Guangdong Haid Group Co. Ltd., Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4908 |
| <sup>a</sup> | Guangdong HEC Technology Holding Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1948 |
| <sup>a</sup> | Guanghui Energy Co. Ltd., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1513 |
|  | Guangshen Railway Co. Ltd., Class A | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;726 |
|  | Guangxi Liugong Machinery Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;805 |
|  | Guangzhou Automobile Group Co. Ltd., Class A | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1882 |
|  | Guangzhou Automobile Group Co. Ltd., Class H | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4387 |
|  | Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd., Class A | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2208 |
|  | Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd., Class H | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2217 |
|  | Guangzhou Haige Communications Group, Inc. Co., Class A | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1168 |
|  | Guangzhou Tinci Materials Technology Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1518 |
|  | Guolian Minsheng Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2601 |
|  | Guosen Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2895 |
| <sup>a</sup> | Guosheng Financial Holding, Inc., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1261 |
|  | Guotai Haitong Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11395 |
| <sup>b</sup> | Guotai Haitong Securities Co. Ltd., Class H | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10528 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16898 |
|  | Guoyuan Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1322 |
|  | H World Group Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24352 |
| <sup>b</sup> | Haidilao International Holding Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11389 |
|  | Haier Smart Home Co. Ltd., Class A | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6227 |
|  | Haier Smart Home Co. Ltd., Class H | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24023 |
| <sup>a</sup> | Hainan Airlines Holding Co. Ltd., Class A | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2245 |
| <sup>a</sup> | Hainan Airport Infrastructure Co. Ltd., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1483 |
|  | Haisco Pharmaceutical Group Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2358 |
|  | Haitian International Holdings Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5197 |
|  | Hangzhou Binjiang Real Estate Group Co. Ltd., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1633 |
|  | Hangzhou First Applied Material Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1147 |
|  | Hangzhou GreatStar Industrial Co. Ltd., Class A | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1424 |
|  | Hangzhou Robam Appliances Co. Ltd., Class A | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1592 |

---

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FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Hangzhou Silan Microelectronics Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 600 | &nbsp;&nbsp; 2079 |
|  | Hangzhou Tigermed Consulting Co. Ltd., Class A | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp; 300 | &nbsp;&nbsp; 2233 |
| <sup>b</sup> | Hangzhou Tigermed Consulting Co. Ltd., Class H | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp; 600 | &nbsp;&nbsp; 2924 |
|  | Han's Laser Technology Industry Group Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 600 | &nbsp;&nbsp; 2041 |
| <sup>b</sup> | Hansoh Pharmaceutical Group Co. Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp; 4000 | &nbsp;&nbsp; 15159 |
|  | Heilongjiang Agriculture Co. Ltd., Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp; 600 | &nbsp;&nbsp; 1208 |
|  | Henan Shenhuo Coal Industry & Electricity Power Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 600 | &nbsp;&nbsp; 1394 |
|  | Henan Shuanghui Investment & Development Co. Ltd., Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp; 1200 | &nbsp;&nbsp; 4089 |
|  | Hengan International Group Co. Ltd. | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp; 2200 | &nbsp;&nbsp; 6320 |
|  | Hengdian Group DMEGC Magnetics Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1185 |
|  | Hengli Petrochemical Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3583 |
|  | Hengtong Optic-electric Co. Ltd., Class A | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1282 |
|  | Hengyi Petrochemical Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;985 |
|  | Hesteel Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1086 |
|  | Hisense Home Appliances Group Co. Ltd., Class H | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2726 |
|  | Hithink RoyalFlush Information Network Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7623 |
|  | HLA Group Corp. Ltd., Class A | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1166 |
|  | Hongta Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1419 |
| <sup>a</sup> | Hopson Development Holdings Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1776 |
| <sup>a</sup> | Horizon Robotics | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23810 |
|  | Hoshine Silicon Industry Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1323 |
| <sup>a,b</sup> | Hua Hong Semiconductor Ltd. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8841 |
|  | Huaan Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;977 |
|  | Huadian Power International Corp. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1833 |
|  | Huadian Power International Corp. Ltd., Class H | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3180 |
|  | Huadong Medicine Co. Ltd., Class A | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3381 |
|  | Huafon Chemical Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1107 |
|  | Huagong Tech Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3938 |
|  | Huaibei Mining Holdings Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950 |
|  | Hualan Biological Engineering, Inc., Class A | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1313 |
|  | Huaneng Lancang River Hydropower, Inc., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 |
|  | Huaneng Power International, Inc., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2990 |
|  | Huaneng Power International, Inc., Class H | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10313 |
|  | Huatai Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5967 |
| <sup>b</sup> | Huatai Securities Co. Ltd., Class H | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9722 |
|  | Huaxia Bank Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5300 |
|  | Huaxin Cement Co. Ltd., Class H | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1345 |
|  | Huayu Automotive Systems Co. Ltd., Class A | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2957 |
|  | Hubei Energy Group Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1133 |
|  | Hubei Xingfa Chemicals Group Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1720 |
|  | Huizhou Desay Sv Automotive Co. Ltd., Class A | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2852 |
|  | Humanwell Healthcare Group Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1757 |
|  | Hunan Valin Steel Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1474 |
|  | Hundsun Technologies, Inc., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2809 |
| <sup>a</sup> | HUTCHMED China Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 |
| <sup>a,b</sup> | Hygeia Healthcare Holdings Co. Ltd., Class C | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2333 |
|  | Hygon Information Technology Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11835 |
|  | IEIT Systems Co. Ltd., Class A | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4262 |
|  | Iflytek Co. Ltd., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4011 |
|  | Imeik Technology Development Co. Ltd., Class A | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3417 |
|  | Industrial & Commercial Bank of China Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21616 |
|  | Industrial & Commercial Bank of China Ltd., Class H | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237707 |
|  | Industrial Bank Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19550 |

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FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

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| | | | | |
|:---|:---|:---|:---|:---|
|  | Industrial Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp; 2400 | &nbsp;&nbsp; 2074 |
|  | Inner Mongolia BaoTou Steel Union Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 12600 | &nbsp;&nbsp; 3149 |
|  | Inner Mongolia Berun Chemical Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 1200 | &nbsp;&nbsp; 802 |
|  | Inner Mongolia Dian Tou Energy Corp. Ltd., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 600 | &nbsp;&nbsp; 1657 |
|  | Inner Mongolia ERDOS Resources Co. Ltd., Class B | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 2400 | &nbsp;&nbsp; 2321 |
|  | Inner Mongolia Junzheng Energy & Chemical Industry Group Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 2400 | &nbsp;&nbsp; 1849 |
|  | Inner Mongolia MengDian HuaNeng Thermal Power Corp. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp; 1800 | &nbsp;&nbsp; 1033 |
|  | Inner Mongolia Yili Industrial Group Co. Ltd., Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp; 1800 | &nbsp;&nbsp; 7006 |
|  | Inner Mongolia Yitai Coal Co. Ltd., Class B | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 3600 | &nbsp;&nbsp; 7132 |
| <sup>a,b</sup> | Innovent Biologics, Inc., Class B | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59924 |
| <sup>a</sup> | iQIYI, Inc., ADR | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3165 |
| <sup>a</sup> | IRICO Display Devices Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1082 |
|  | Isoftstone Information Technology Group Co. Ltd., Class A | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4577 |
| <sup>a</sup> | JA Solar Technology Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1583 |
|  | Jafron Biomedical Co. Ltd., Class A | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;602 |
|  | JCET Group Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2822 |
| <sup>a,b</sup> | JD Health International, Inc. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21363 |
| <sup>a,b</sup> | JD Logistics, Inc. | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12052 |
|  | JD.com, Inc., Class A | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151525 |
| <sup>a</sup> | Jiangsu Eastern Shenghong Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2093 |
|  | Jiangsu Expressway Co. Ltd., Class A | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1285 |
|  | Jiangsu Expressway Co. Ltd., Class H | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5646 |
|  | Jiangsu Financial Leasing Co. Ltd., Class A | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1523 |
|  | Jiangsu Hengli Hydraulic Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4985 |
|  | Jiangsu Hengrui Pharmaceuticals Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13042 |
| <sup>a</sup> | Jiangsu Hoperun Software Co. Ltd., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2129 |
|  | Jiangsu King's Luck Brewery JSC Ltd., Class A | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3261 |
|  | Jiangsu Phoenix Publishing & Media Corp. Ltd., Class A | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;936 |
|  | Jiangsu Yanghe Distillery Co. Ltd., Class A | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5407 |
|  | Jiangsu Yuyue Medical Equipment & Supply Co. Ltd., Class A | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1491 |
|  | Jiangsu Zhongtian Technology Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2422 |
|  | Jiangxi Copper Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1963 |
|  | Jiangxi Copper Co. Ltd., Class H | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9707 |
|  | Jinduicheng Molybdenum Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;916 |
| <sup>a</sup> | Jinko Solar Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2608 |
| <sup>a,b</sup> | Jinxin Fertility Group Ltd. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3508 |
|  | Jizhong Energy Resources Co. Ltd., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;963 |
|  | Joincare Pharmaceutical Group Industry Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;924 |
|  | Jointown Pharmaceutical Group Co. Ltd., Class A | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1152 |
|  | JOYY, Inc., ADR | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5193 |
|  | Juneyao Airlines Co. Ltd., Class A | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1128 |
| <sup>a</sup> | J-Yuan Trust Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1235 |
| <sup>a</sup> | Kanzhun Ltd., ADR | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21408 |
|  | KE Holdings, Inc., ADR | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43853 |
|  | Keda Industrial Group Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;821 |
|  | Kingboard Holdings Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9592 |
| <sup>a</sup> | Kingdee International Software Group Co. Ltd. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21636 |
|  | Kingnet Network Co. Ltd., Class A | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1617 |
|  | Kingsoft Corp. Ltd. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18757 |
| <sup>a,b</sup> | Kuaishou Technology, Class B | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82250 |
|  | Kuang-Chi Technologies Co. Ltd., Class A | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3349 |
| <sup>a</sup> | Kunlun Tech Co. Ltd., Class A | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2817 |

---

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FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Kweichow Moutai Co. Ltd., Class A | &nbsp;&nbsp;Beverages | &nbsp;&nbsp; 330 | &nbsp;&nbsp; 64935 |
|  | Lao Feng Xiang Co. Ltd., Class B | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp; 1200 | &nbsp;&nbsp; 4475 |
|  | LB Group Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 600 | &nbsp;&nbsp; 1358 |
|  | Lee & Man Paper Manufacturing Ltd. | &nbsp;&nbsp;Paper & Forest Products | &nbsp;&nbsp; 6000 | &nbsp;&nbsp; 1735 |
| <sup>a,b</sup> | Legend Holdings Corp., Class H | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp; 2400 | &nbsp;&nbsp; 2721 |
|  | Lenovo Group Ltd. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 36000 |
|  | Lens Technology Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp; 1800 | &nbsp;&nbsp; 5604 |
|  | Leo Group Co. Ltd., Class A | &nbsp;&nbsp;Media | &nbsp;&nbsp; 1800 | &nbsp;&nbsp; 879 |
|  | Lepu Medical Technology Beijing Co. Ltd., Class A | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp; 600 | &nbsp;&nbsp; 1154 |
|  | Leyard Optoelectronic Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;511 |
| <sup>a</sup> | Li Auto, Inc., Class A | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57248 |
|  | Li Ning Co. Ltd. | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19399 |
|  | Liaoning Port Co. Ltd., Class A | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1131 |
|  | Lingyi iTech Guangdong Co., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2878 |
|  | Livzon Pharmaceutical Group, Inc., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1006 |
|  | Livzon Pharmaceutical Group, Inc., Class H | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2259 |
| <sup>b</sup> | Longfor Group Holdings Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10617 |
|  | LONGi Green Energy Technology Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5032 |
| <sup>a</sup> | Lufax Holding Ltd., ADR | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3248 |
|  | Luxi Chemical Group Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;863 |
|  | Luxshare Precision Industry Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11623 |
| <sup>a,b</sup> | Luye Pharma Group Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4104 |
|  | Luzhou Laojiao Co. Ltd., Class A | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6332 |
| <sup>a</sup> | Maanshan Iron & Steel Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;867 |
|  | Mango Excellent Media Co. Ltd., Class A | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1828 |
|  | Maxscend Microelectronics Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2590 |
|  | Meihua Holdings Group Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1791 |
|  | Meinian Onehealth Healthcare Holdings Co. Ltd., Class A | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;861 |
| <sup>a,b</sup> | Meituan, Class B | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317639 |
|  | Metallurgical Corp. of China Ltd., Class A | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1997 |
|  | Metallurgical Corp. of China Ltd., Class H | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2476 |
| <sup>a</sup> | Microport Scientific Corp. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4017 |
|  | Midea Group Co. Ltd., Class H | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22762 |
|  | Ming Yang Smart Energy Group Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;962 |
|  | MINISO Group Holding Ltd. | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5442 |
|  | Minmetals Capital Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;977 |
|  | Minth Group Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8560 |
| <sup>a</sup> | MMG Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7806 |
|  | Montage Technology Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3503 |
|  | Muyuan Foods Co. Ltd., Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9360 |
|  | Nanjing Iron & Steel Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1055 |
|  | Nanjing Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1354 |
|  | NARI Technology Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7508 |
|  | National Silicon Industry Group Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3136 |
|  | NAURA Technology Group Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12347 |
| <sup>a</sup> | NavInfo Co. Ltd., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;715 |
|  | NetEase, Inc. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185465 |
|  | New China Life Insurance Co. Ltd., Class A | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4900 |
|  | New China Life Insurance Co. Ltd., Class H | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19605 |
| <sup>a</sup> | New Hope Liuhe Co. Ltd., Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1571 |
|  | New Oriental Education & Technology Group, Inc. | &nbsp;&nbsp;Diversified Consumer Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32217 |
|  | Newland Digital Technology Co. Ltd., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2712 |
| <sup>a</sup> | Nine Dragons Paper Holdings Ltd. | &nbsp;&nbsp;Paper & Forest Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2469 |
| <sup>a</sup> | Ninestar Corp., Class A | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1921 |
|  | Ningbo Deye Technology Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1853 |
|  | Ningbo Joyson Electronic Corp., Class A | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1461 |
|  | Ningbo Orient Wires & Cables Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1444 |
|  | Ningbo Sanxing Medical Electric Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1252 |
| <sup>a</sup> | Ningbo Shanshan Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;792 |
|  | Ningbo Tuopu Group Co. Ltd., Class A | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3958 |

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------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

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| | | | | |
|:---|:---|:---|:---|:---|
|  | Ningbo Zhoushan Port Co. Ltd., Class A | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp; 1800 | &nbsp;&nbsp; 920 |
|  | Ningxia Baofeng Energy Group Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 2400 | &nbsp;&nbsp; 5408 |
| <sup>a</sup> | NIO, Inc., Class A | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp; 6120 | &nbsp;&nbsp; 21362 |
| <sup>b</sup> | Nongfu Spring Co. Ltd., Class H | &nbsp;&nbsp;Beverages | &nbsp;&nbsp; 6000 | &nbsp;&nbsp; 30650 |
|  | Northeast Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp; 600 | &nbsp;&nbsp; 639 |
|  | Offshore Oil Engineering Co. Ltd., Class A | &nbsp;&nbsp;Energy Equipment & Services | &nbsp;&nbsp; 1200 | &nbsp;&nbsp; 915 |
| <sup>a</sup> | OFILM Group Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp; 1200 | &nbsp;&nbsp; 1985 |
|  | OmniVision Integrated Circuits Group, Inc., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 600 | &nbsp;&nbsp; 10692 |
|  | Orient Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp; 2400 | &nbsp;&nbsp; 3243 |
| <sup>b</sup> | Orient Securities Co. Ltd., Class H | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1700 |
| <sup>a</sup> | Pacific Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;988 |
| <sup>a</sup> | Pangang Group Vanadium Titanium & Resources Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;858 |
| <sup>a</sup> | PDD Holdings, Inc., ADR | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297025 |
|  | People.cn Co. Ltd., Class A | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1693 |
|  | People's Insurance Co. Group of China Ltd., Class A | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3648 |
|  | People's Insurance Co. Group of China Ltd., Class H | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22815 |
|  | PetroChina Co. Ltd., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8594 |
|  | PetroChina Co. Ltd., Class H | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67070 |
| <sup>a</sup> | Pharmaron Beijing Co. Ltd., Class A | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2056 |
| <sup>a,b</sup> | Pharmaron Beijing Co. Ltd., Class H | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2534 |
|  | PICC Property & Casualty Co. Ltd., Class H | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50344 |
|  | Ping An Bank Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9099 |
| <sup>b</sup> | Ping An Healthcare & Technology Co. Ltd. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4022 |
|  | Ping An Insurance Group Co. of China Ltd., Class A | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23236 |
|  | Ping An Insurance Group Co. of China Ltd., Class H | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152408 |
|  | Pingdingshan Tianan Coal Mining Co. Ltd., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;621 |
| <sup>a</sup> | Polaris Bay Group Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;583 |
|  | Poly Developments & Holdings Group Co. Ltd., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4071 |
| <sup>d</sup> | Poly Property Services Co. Ltd., Class H | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2534 |
| <sup>b</sup> | Pop Mart International Group Ltd. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81508 |
|  | Postal Savings Bank of China Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6873 |
| <sup>b</sup> | Postal Savings Bank of China Co. Ltd., Class H | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25131 |
|  | Power Construction Corp. of China Ltd., Class A | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3263 |
|  | Qifu Technology, Inc., ADR | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;408 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17691 |
| <sup>a</sup> | Qingdao TGOOD Electric Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2008 |
| <sup>a</sup> | Qinghai Salt Lake Industry Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4292 |
|  | Range Intelligent Computing Technology Group Co. Ltd., Class A | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4149 |
| <sup>a,b</sup> | Remegen Co. Ltd., Class H | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3468 |
|  | RLX Technology, Inc., ADR | &nbsp;&nbsp;Tobacco | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5450 |
|  | Rockchip Electronics Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2120 |
|  | Rongsheng Petrochemical Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3526 |
|  | SAIC Motor Corp. Ltd., Class A | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5377 |
|  | Sailun Group Co. Ltd., Class A | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2198 |
| <sup>a</sup> | Sanan Optoelectronics Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3121 |
|  | Sany Heavy Equipment International Holdings Co. Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4299 |
|  | Sany Heavy Industry Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6014 |
|  | Satellite Chemical Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2903 |
|  | SDIC Capital Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1890 |
|  | SDIC Power Holdings Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4939 |
|  | Sealand Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1035 |
| <sup>a</sup> | Seazen Group Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3562 |
| <sup>a</sup> | Seazen Holdings Co. Ltd., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1146 |
| <sup>a,b</sup> | SenseTime Group, Inc., Class B | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18222 |
|  | Seres Group Co. Ltd., Class A | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9376 |
|  | SF Holding Co. Ltd., Class A | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10211 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | SG Micro Corp., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 253 | &nbsp;&nbsp; 2570 |
|  | Shaanxi Coal Industry Co. Ltd., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 3000 | &nbsp;&nbsp; 8058 |
|  | Shaanxi Energy Investment Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp; 600 | &nbsp;&nbsp; 729 |
|  | Shaanxi International Trust Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp; 1800 | &nbsp;&nbsp; 897 |
|  | Shan Xi Hua Yang Group New Energy Co. Ltd., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 1200 | &nbsp;&nbsp; 1116 |
|  | Shandong Gold Mining Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 1200 | &nbsp;&nbsp; 5349 |
| <sup>b</sup> | Shandong Gold Mining Co. Ltd., Class H | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 3000 | &nbsp;&nbsp; 10414 |
|  | Shandong Himile Mechanical Science & Technology Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 300 | &nbsp;&nbsp; 2480 |
| <sup>a</sup> | Shandong Hi-speed Co. Ltd., Class A | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp; 600 | &nbsp;&nbsp; 893 |
|  | Shandong Hualu Hengsheng Chemical Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1815 |
|  | Shandong Nanshan Aluminum Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1925 |
|  | Shandong Sun Paper Industry JSC Ltd., Class A | &nbsp;&nbsp;Paper & Forest Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1127 |
|  | Shandong Weigao Group Medical Polymer Co. Ltd., Class H | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7472 |
| <sup>a</sup> | Shanghai Aiko Solar Energy Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1097 |
|  | Shanghai Allist Pharmaceuticals Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2598 |
|  | Shanghai Baosight Software Co. Ltd., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2612 |
|  | Shanghai Baosight Software Co. Ltd., Class B | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3902 |
| <sup>a</sup> | Shanghai Construction Group Co. Ltd., Class A | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1001 |
| <sup>a</sup> | Shanghai Electric Group Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3714 |
| <sup>a</sup> | Shanghai Electric Group Co. Ltd., Class H | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4403 |
|  | Shanghai Electric Power Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;736 |
|  | Shanghai Fosun Pharmaceutical Group Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2102 |
|  | Shanghai Fosun Pharmaceutical Group Co. Ltd., Class H | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3225 |
| <sup>a</sup> | Shanghai Fudan Microelectronics Group Co. Ltd., Class H | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3809 |
|  | Shanghai International Airport Co. Ltd., Class A | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3992 |
|  | Shanghai International Port Group Co. Ltd., Class A | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2391 |
|  | Shanghai Jinjiang International Hotels Co. Ltd., Class B | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;862 |
|  | Shanghai Jinqiao Export Processing Zone Development Co. Ltd., Class B | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;968 |
|  | Shanghai Lingang Holdings Corp. Ltd., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;760 |
|  | Shanghai Lujiazui Finance & Trade Zone Development Co. Ltd., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;742 |
|  | Shanghai Lujiazui Finance & Trade Zone Development Co. Ltd., Class B | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2184 |
|  | Shanghai Mechanical & Electrical Industry Co. Ltd., Class B | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1322 |
|  | Shanghai Moons' Electric Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1605 |
|  | Shanghai Pharmaceuticals Holding Co. Ltd., Class A | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2995 |
|  | Shanghai Pharmaceuticals Holding Co. Ltd., Class H | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4471 |
|  | Shanghai Pudong Development Bank Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16277 |
|  | Shanghai Putailai New Energy Technology Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1573 |
|  | Shanghai RAAS Blood Products Co. Ltd., Class A | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1726 |
|  | Shanghai Rural Commercial Bank Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4062 |
| <sup>a</sup> | Shanghai Stonehill Technology Co. Ltd., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1415 |
|  | Shanghai Tunnel Engineering Co. Ltd., Class A | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1022 |
|  | Shanghai United Imaging Healthcare Co. Ltd., Class A | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3852 |
|  | Shanghai Yuyuan Tourist Mart Group Co. Ltd., Class A | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;930 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Shanghai Zhangjiang High-Tech Park Development Co. Ltd., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp; 600 | &nbsp;&nbsp; 2153 |
|  | Shanghai Zhenhua Heavy Industries Co. Ltd., Class B | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 4200 | &nbsp;&nbsp; 1117 |
|  | Shangri-La Asia Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp; 4000 | &nbsp;&nbsp; 2176 |
|  | Shanjin International Gold Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 900 | &nbsp;&nbsp; 2380 |
|  | Shanxi Coal International Energy Group Co. Ltd., Class A | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp; 600 | &nbsp;&nbsp; 731 |
|  | Shanxi Coking Coal Energy Group Co. Ltd., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 1800 | &nbsp;&nbsp; 1608 |
|  | Shanxi Lu'an Environmental Energy Development Co. Ltd., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 1200 | &nbsp;&nbsp; 1767 |
| <sup>a</sup> | Shanxi Meijin Energy Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 1200 | &nbsp;&nbsp; 724 |
|  | Shanxi Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp; 1200 | &nbsp;&nbsp; 978 |
| <sup>a</sup> | Shanxi Taigang Stainless Steel Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;902 |
|  | Shanxi Xinghuacun Fen Wine Factory Co. Ltd., Class A | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9850 |
| <sup>a</sup> | Shenergy Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1441 |
|  | Shenghe Resources Holding Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1103 |
|  | Shengyi Technology Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3367 |
|  | Shennan Circuits Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4515 |
|  | Shenwan Hongyuan Group Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4625 |
| <sup>b</sup> | Shenwan Hongyuan Group Co. Ltd., Class H | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1639 |
|  | Shenzhen Energy Group Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1069 |
| <sup>a</sup> | Shenzhen Expressway Corp. Ltd., Class H | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1745 |
|  | Shenzhen Inovance Technology Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7211 |
|  | Shenzhen International Holdings Ltd. | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5916 |
|  | Shenzhen Kaifa Technology Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1570 |
|  | Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12550 |
|  | Shenzhen MTC Co. Ltd., Class A | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1101 |
|  | Shenzhen New Industries Biomedical Engineering Co. Ltd., Class A | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2375 |
| <sup>a</sup> | Shenzhen Overseas Chinese Town Co. Ltd., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;754 |
|  | Shenzhen Salubris Pharmaceuticals Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2643 |
|  | Shenzhen SED Industry Co. Ltd., Class A | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1694 |
| <sup>a</sup> | Shenzhen Sunway Communication Co. Ltd., Class A | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1251 |
|  | Shenzhen Transsion Holdings Co. Ltd., Class A | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4161 |
|  | Shenzhen Zhongjin Lingnan Nonfemet Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;767 |
|  | Shenzhou International Group Holdings Ltd. | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21325 |
| <sup>a</sup> | Shijiazhuang Changshan BeiMing Technology Co. Ltd., Class A | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1844 |
|  | Shijiazhuang Yiling Pharmaceutical Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1220 |
| <sup>a</sup> | Siasun Robot & Automation Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1439 |
|  | Sichuan Changhong Electric Co. Ltd., Class A | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1628 |
|  | Sichuan Chuantou Energy Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4031 |
|  | Sichuan Hebang Biotechnology Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;733 |
|  | Sichuan Kelun Pharmaceutical Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3009 |
| <sup>a</sup> | Sichuan Kelun-Biotech Biopharmaceutical Co. Ltd. | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8336 |
|  | Sichuan Road & Bridge Group Co. Ltd., Class A | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2488 |
| <sup>a</sup> | Sieyuan Electric Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3054 |
|  | Silergy Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15334 |
|  | Sinolink Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1469 |
|  | Sinoma International Engineering Co., Class A | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;719 |
|  | Sinoma Science & Technology Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1633 |
|  | Sinopec Engineering Group Co. Ltd., Class H | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4571 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| <sup>a</sup> | Sinopec Shanghai Petrochemical Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 1800 | &nbsp;&nbsp; 716 |
|  | Sinopec Shanghai Petrochemical Co. Ltd., Class H | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 12000 | &nbsp;&nbsp; 1941 |
|  | Sinopharm Group Co. Ltd., Class H | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp; 4800 | &nbsp;&nbsp; 11239 |
|  | Sinotrans Ltd., Class A | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp; 1200 | &nbsp;&nbsp; 826 |
|  | Sinotrans Ltd., Class H | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp; 6000 | &nbsp;&nbsp; 3042 |
|  | Sinotruk Hong Kong Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 3000 | &nbsp;&nbsp; 8752 |
|  | SITC International Holdings Co. Ltd. | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp; 5000 | &nbsp;&nbsp; 16019 |
|  | Skshu Paint Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 196 | &nbsp;&nbsp; 1008 |
| <sup>b</sup> | Smoore International Holdings Ltd. | &nbsp;&nbsp;Tobacco | &nbsp;&nbsp; 6960 | &nbsp;&nbsp; 16172 |
|  | Songcheng Performance Development Co. Ltd., Class A | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;716 |
|  | SooChow Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1466 |
|  | Southwest Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1457 |
|  | Spring Airlines Co. Ltd., Class A | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2331 |
|  | Sun Art Retail Group Ltd. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2625 |
|  | Sungrow Power Supply Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6244 |
|  | Sunny Optical Technology Group Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21203 |
|  | Sunwoda Electronic Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1680 |
|  | SUPCON Technology Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2244 |
|  | Suzhou Dongshan Precision Manufacturing Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3164 |
|  | Suzhou TFC Optical Communication Co. Ltd., Class A | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2185 |
| <sup>a</sup> | TAL Education Group, ADR | &nbsp;&nbsp;Diversified Consumer Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15330 |
|  | TangShan Port Group Co. Ltd., Class A | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020 |
|  | TBEA Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2365 |
| <sup>a</sup> | TCL Technology Group Corp., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3264 |
|  | TCL Zhonghuan Renewable Energy Technology Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1287 |
|  | Tencent Holdings Ltd. | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23100 | &nbsp;&nbsp;&nbsp;&nbsp;1480166 |
|  | Tencent Music Entertainment Group, ADR | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36017 |
|  | Thunder Software Technology Co. Ltd., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1598 |
|  | Tian Di Science & Technology Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1003 |
| <sup>a</sup> | Tianfeng Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1652 |
| <sup>a</sup> | Tianma Microelectronics Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;714 |
| <sup>a</sup> | Tianqi Lithium Corp., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2684 |
|  | Tianshan Aluminum Group Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2088 |
|  | Tianshui Huatian Technology Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1692 |
|  | Tingyi Cayman Islands Holding Corp. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8790 |
| <sup>d</sup> | Tongcheng Travel Holdings Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11972 |
|  | TongFu Microelectronics Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2146 |
|  | Tongkun Group Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;888 |
|  | Tongling Nonferrous Metals Group Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1679 |
| <sup>a</sup> | Tongwei Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2806 |
|  | Topchoice Medical Corp., Class A | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;807 |
| <sup>b</sup> | Topsports International Holdings Ltd. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4678 |
|  | TravelSky Technology Ltd., Class H | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4013 |
| <sup>a</sup> | Trina Solar Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2434 |
|  | Trip.com Group Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136510 |
| <sup>a</sup> | Tsinghua Tongfang Co. Ltd., Class A | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1213 |
|  | Tsingtao Brewery Co. Ltd., Class A | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3879 |
|  | Tsingtao Brewery Co. Ltd., Class H | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2304 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15042 |
|  | Unigroup Guoxin Microelectronics Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2933 |
|  | Uni-President China Holdings Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6051 |
|  | Unisplendour Corp. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4019 |
|  | Victory Giant Technology Huizhou Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5628 |
|  | Vipshop Holdings Ltd., ADR | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16976 |
|  | Walvax Biotechnology Co. Ltd., Class A | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;921 |
| <sup>a</sup> | Wanda Film Holding Co. Ltd., Class A | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;957 |
|  | Wangsu Science & Technology Co. Ltd., Class A | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;898 |

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FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

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| | | | | |
|:---|:---|:---|:---|:---|
|  | Wanhua Chemical Group Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 1000 | &nbsp;&nbsp; 7575 |
|  | Want Want China Holdings Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp; 12000 | &nbsp;&nbsp; 8377 |
|  | Wanxiang Qianchao Co. Ltd., Class A | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp; 1200 | &nbsp;&nbsp; 1282 |
|  | Weibo Corp., Class A | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp; 360 | &nbsp;&nbsp; 3497 |
|  | Weichai Power Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 1800 | &nbsp;&nbsp; 3865 |
|  | Weichai Power Co. Ltd., Class H | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 7000 | &nbsp;&nbsp; 14214 |
|  | Weifu High-Technology Group Co. Ltd., Class B | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp; 600 | &nbsp;&nbsp; 916 |
|  | Wens Foodstuff Group Co. Ltd., Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp; 1800 | &nbsp;&nbsp; 4292 |
|  | Western Mining Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 600 | &nbsp;&nbsp; 1393 |
|  | Western Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1320 |
|  | Wintime Energy Group Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1122 |
|  | Wolong Electric Group Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1987 |
|  | Wuchan Zhongda Group Co. Ltd., Class A | &nbsp;&nbsp;Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1324 |
| <sup>a</sup> | Wuhan Guide Infrared Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1717 |
|  | Wuliangye Yibin Co. Ltd., Class A | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19919 |
|  | WUS Printed Circuit Kunshan Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3567 |
|  | WuXi AppTec Co. Ltd., Class A | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7768 |
| <sup>b</sup> | WuXi AppTec Co. Ltd., Class H | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12023 |
| <sup>a,b</sup> | Wuxi Biologics Cayman, Inc. | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42478 |
| <sup>a</sup> | WuXi XDC Cayman, Inc. | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7949 |
|  | XCMG Construction Machinery Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3905 |
|  | Xiamen C & D, Inc., Class A | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;869 |
|  | Xiamen Tungsten Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1752 |
| <sup>a</sup> | Xiangcai Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840 |
| <sup>a,b</sup> | Xiaomi Corp., Class B | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;494874 |
|  | Xinyi Solar Holdings Ltd. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5234 |
| <sup>a</sup> | XPeng, Inc., Class A | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48566 |
|  | Xtep International Holdings Ltd. | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4303 |
|  | Xuji Electric Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1216 |
| <sup>b</sup> | Yadea Group Holdings Ltd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6720 |
| <sup>a,c</sup> | Yango Group Co. Ltd., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Yangzijiang Shipbuilding Holdings Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16733 |
|  | Yankuang Energy Group Co. Ltd., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2650 |
|  | Yankuang Energy Group Co. Ltd., Class H | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11640 |
|  | Yantai Changyu Pioneer Wine Co. Ltd., Class B | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1255 |
|  | Yealink Network Technology Corp. Ltd., Class A | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2038 |
|  | Yifeng Pharmacy Chain Co. Ltd., Class A | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1079 |
|  | Yihai International Holding Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3541 |
|  | Yihai Kerry Arawana Holdings Co. Ltd., Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2473 |
|  | Yili Chuanning Biotechnology Co. Ltd., Class A | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1008 |
| <sup>a</sup> | Yonghui Superstores Co. Ltd., Class A | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1642 |
| <sup>a</sup> | Yonyou Network Technology Co. Ltd., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2240 |
|  | Youngor Fashion Co. Ltd., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1223 |
|  | YTO Express Group Co. Ltd., Class A | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2159 |
|  | Yuexiu Property Co. Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3287 |
|  | Yum China Holdings, Inc. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60432 |
|  | Yunnan Aluminium Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2677 |
|  | Yunnan Baiyao Group Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4673 |
|  | Yunnan Chihong Zinc&Germanium Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;886 |
|  | Yunnan Copper Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1065 |
| <sup>a</sup> | Yunnan Energy New Material Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1636 |
|  | Yunnan Tin Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1282 |
|  | Yunnan Yuntianhua Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1840 |
|  | Yutong Bus Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2082 |
| <sup>a</sup> | Zai Lab Ltd. | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12589 |
| <sup>a</sup> | ZEEKR Intelligent Technology Holding Ltd., ADR | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1989 |
|  | Zhangzhou Pientzehuang Pharmaceutical Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5584 |
|  | Zhaojin Mining Industry Co. Ltd., Class H | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15592 |
|  | Zhefu Holding Group Co. Ltd., Class A | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;774 |
|  | Zhejiang China Commodities City Group Co. Ltd., Class A | &nbsp;&nbsp;Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5197 |
|  | Zhejiang Chint Electrics Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1899 |
|  | Zhejiang Crystal-Optech Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1673 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Zhejiang Dahua Technology Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp; 1200 | &nbsp;&nbsp; 2660 |
|  | Zhejiang Expressway Co. Ltd., Class H | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp; 6000 | &nbsp;&nbsp; 5518 |
|  | Zhejiang Huahai Pharmaceutical Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp; 600 | &nbsp;&nbsp; 1560 |
|  | Zhejiang Huayou Cobalt Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp; 600 | &nbsp;&nbsp; 3101 |
|  | Zhejiang Jingsheng Mechanical & Electrical Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 600 | &nbsp;&nbsp; 2274 |
|  | Zhejiang Juhua Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 1200 | &nbsp;&nbsp; 4805 |
| <sup>a,b</sup> | Zhejiang Leapmotor Technology Co. Ltd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp; 2400 | &nbsp;&nbsp; 16724 |
|  | Zhejiang Longsheng Group Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 1200 | &nbsp;&nbsp; 1702 |
|  | Zhejiang NHU Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 1200 | &nbsp;&nbsp; 3563 |
|  | Zhejiang Sanhua Intelligent Controls Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2210 |
|  | Zhejiang Wanfeng Auto Wheel Co. Ltd., Class A | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1331 |
|  | Zhejiang Weixing New Building Materials Co. Ltd., Class A | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;868 |
|  | Zhejiang Zheneng Electric Power Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1776 |
| <sup>a</sup> | Zhengzhou Coal Mining Machinery Group Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1392 |
|  | Zheshang Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1828 |
| <sup>a,b</sup> | ZhongAn Online P&C Insurance Co. Ltd., Class H | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6978 |
|  | Zhongji Innolight Co. Ltd., Class A | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7738 |
|  | Zhongjin Gold Corp. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3676 |
|  | Zhongsheng Group Holdings Ltd. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4624 |
|  | Zhongtai Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2154 |
|  | Zhuzhou CRRC Times Electric Co. Ltd., Class H | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7246 |
|  | Zijin Mining Group Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16334 |
|  | Zijin Mining Group Co. Ltd., Class H | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56191 |
|  | Zoomlion Heavy Industry Science & Technology Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2422 |
|  | Zoomlion Heavy Industry Science & Technology Co. Ltd., Class H | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4456 |
|  | ZTE Corp., Class A | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5443 |
|  | ZTE Corp., Class H | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7429 |
|  | ZTO Express Cayman, Inc. | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26465 |
|  |  |  |  | &nbsp;&nbsp;10294324 |
|  | **Hong Kong 5.0%** |  |  |  |
|  | AIA Group Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358726 |
| <sup>a</sup> | Alibaba Health Information Technology Ltd., Class A | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10869 |
| <sup>a</sup> | Alibaba Pictures Group Ltd., Class A | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7338 |
|  | ASMPT Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8797 |
|  | Bank of East Asia Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5549 |
|  | Beijing Enterprises Water Group Ltd., Class A | &nbsp;&nbsp;Water Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3623 |
|  | Bosideng International Holdings Ltd., Class A | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9457 |
|  | Cathay Pacific Airways Ltd., Class A | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5452 |
|  | Champion REIT, Class A | &nbsp;&nbsp;Office REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1590 |
|  | China Everbright Environment Group Ltd., Class B | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5839 |
|  | China Everbright Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3710 |
|  | China Gas Holdings Ltd., Class A | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8964 |
|  | China Mengniu Dairy Co. Ltd., Class B | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24611 |
|  | China Power International Development Ltd., Class H | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4571 |
|  | China Resources Beer Holdings Co. Ltd., Class A | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19108 |
|  | China Resources Gas Group Ltd., Class A | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9195 |
|  | China Resources Land Ltd., Class H | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36935 |
|  | China State Construction International Holdings Ltd., Class A | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9050 |
| <sup>a</sup> | China Traditional Chinese Medicine Holdings Co. Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3378 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | CK Asset Holdings Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp; 6600 | &nbsp;&nbsp; 29090 |
|  | CK Infrastructure Holdings Ltd., Class A | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp; 2500 | &nbsp;&nbsp; 16545 |
|  | CLP Holdings Ltd. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp; 6000 | &nbsp;&nbsp; 50522 |
|  | COSCO SHIPPING Ports Ltd., Class B | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp; 6000 | &nbsp;&nbsp; 3975 |
|  | CTF Services Ltd. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp; 4000 | &nbsp;&nbsp; 3801 |
|  | DFI Retail Group Holdings Ltd., Class A | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp; 1200 | &nbsp;&nbsp; 3312 |
|  | Far East Horizon Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp; 6000 | &nbsp;&nbsp; 5213 |
|  | Geely Automobile Holdings Ltd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp; 22000 | &nbsp;&nbsp; 44729 |
|  | Guangdong Investment Ltd. | &nbsp;&nbsp;Water Utilities | &nbsp;&nbsp; 12000 | &nbsp;&nbsp; 10028 |
|  | Hang Lung Group Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5220 |
|  | Hang Lung Properties Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6679 |
|  | Hang Seng Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35954 |
|  | Henderson Land Development Co. Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17484 |
|  | Hong Kong & China Gas Co. Ltd. | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35259 |
|  | Hong Kong Exchanges & Clearing Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240076 |
|  | Hongkong Land Holdings Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20772 |
|  | Hutchison Port Holdings Trust | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3445 |
|  | Hysan Development Co. Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3592 |
| <sup>a</sup> | J&T Global Express Ltd. | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18656 |
|  | Jardine Matheson Holdings Ltd. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36045 |
|  | Johnson Electric Holdings Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4127 |
|  | Kerry Properties Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5159 |
|  | Kingboard Laminates Holdings Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3654 |
|  | Kunlun Energy Co. Ltd. | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13590 |
|  | Link REIT | &nbsp;&nbsp;Retail REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51241 |
|  | Man Wah Holdings Ltd. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2635 |
|  | MTR Corp. Ltd. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21554 |
| <sup>a</sup> | New World Development Co. Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4357 |
|  | Orient Overseas International Ltd. | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10196 |
|  | PCCW Ltd. | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8148 |
|  | Power Assets Holdings Ltd. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32134 |
|  | Shanghai Industrial Holdings Ltd. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3455 |
|  | Shougang Fushan Resources Group Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4372 |
|  | Sino Biopharmaceutical Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24122 |
|  | Sino Land Co. Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14147 |
|  | Sun Hung Kai Properties Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59536 |
|  | Swire Pacific Ltd., Class A | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8567 |
|  | Swire Pacific Ltd., Class B | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3541 |
|  | Swire Properties Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8989 |
|  | Techtronic Industries Co. Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60465 |
|  | United Energy Group Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1590 |
|  | VTech Holdings Ltd. | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4353 |
| <sup>b</sup> | WH Group Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28854 |
|  | Wharf Holdings Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10961 |
|  | Wharf Real Estate Investment Co. Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16968 |
|  | Xinyi Glass Holdings Ltd. | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6147 |
|  | Yue Yuen Industrial Holdings Ltd. | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4594 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;1544615 |
|  | **India 22.0%** |  |  |  |
|  | 360 ONE WAM Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;866 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12062 |
|  | 3M India Ltd. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3988 |
|  | Aarti Industries Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4461 |
|  | ABB India Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13613 |
|  | ACC Ltd. | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6438 |
| <sup>a</sup> | Adani Energy Solutions Ltd. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11166 |
|  | Adani Enterprises Ltd. | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29688 |
| <sup>a</sup> | Adani Green Energy Ltd. | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11959 |
|  | Adani Ports & Special Economic Zone Ltd. | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46469 |
| <sup>a</sup> | Adani Power Ltd. | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26637 |
|  | Adani Total Gas Ltd. | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6666 |
| <sup>a</sup> | Aditya Birla Capital Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7721 |
|  | AIA Engineering Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4400 |
|  | Ajanta Pharma Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4862 |
|  | Alkem Laboratories Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8639 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Ambuja Cements Ltd. | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp; 2970 | &nbsp;&nbsp; 19998 |
|  | Apar Industries Ltd. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp; 60 | &nbsp;&nbsp; 6102 |
|  | APL Apollo Tubes Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 660 | &nbsp;&nbsp; 13384 |
|  | Apollo Hospitals Enterprise Ltd. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp; 378 | &nbsp;&nbsp; 31920 |
|  | Ashok Leyland Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 5304 | &nbsp;&nbsp; 15518 |
|  | Asian Paints Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 1638 | &nbsp;&nbsp; 44715 |
|  | Astral Ltd. | &nbsp;&nbsp;Building Products | &nbsp;&nbsp; 462 | &nbsp;&nbsp; 8117 |
| <sup>b</sup> | AU Small Finance Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 1332 | &nbsp;&nbsp; 12697 |
| <sup>a</sup> | Aurobindo Pharma Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp; 1056 | &nbsp;&nbsp; 13973 |
| <sup>a,b</sup> | Avenue Supermarts Ltd. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27837 |
| <sup>a</sup> | AWL Agri Business Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3783 |
|  | Axis Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119305 |
|  | Bajaj Auto Ltd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24026 |
|  | Bajaj Finance Ltd. | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114442 |
|  | Bajaj Finserv Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33947 |
|  | Bajaj Holdings & Investment Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17102 |
| <sup>a</sup> | Bajaj Housing Finance Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5064 |
|  | Balkrishna Industries Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8212 |
| <sup>b</sup> | Bandhan Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3078 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6806 |
|  | Bank of Baroda | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11348 |
|  | Bank of India | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4910 |
|  | Bank of Maharashtra | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3880 |
|  | Bata India Ltd. | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3588 |
|  | Bayer CropScience Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3523 |
|  | Berger Paints India Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6302 |
| <sup>d</sup> | Bharat Dynamics Ltd. | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7885 |
|  | Bharat Electronics Ltd. | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65555 |
|  | Bharat Forge Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14551 |
|  | Bharat Heavy Electricals Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14569 |
|  | Bharat Petroleum Corp. Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28333 |
|  | Bharti Airtel Ltd. | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11236 |
|  | Bharti Airtel Ltd. | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234656 |
|  | Bharti Hexacom Ltd. | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6375 |
|  | Biocon Ltd. | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7217 |
|  | Blue Star Ltd. | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8964 |
|  | Bosch Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11432 |
|  | Britannia Industries Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29883 |
|  | BSE Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24225 |
|  | Canara Bank | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8805 |
|  | Castrol India Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4762 |
| <sup>d</sup> | Central Depository Services India Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8033 |
|  | CG Power & Industrial Solutions Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19138 |
|  | Cholamandalam Investment & Finance Co. Ltd. | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29500 |
|  | Cipla Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37507 |
|  | Coal India Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38692 |
| <sup>b</sup> | Cochin Shipyard Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7660 |
|  | Coforge Ltd. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26929 |
|  | Colgate-Palmolive India Ltd. | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13641 |
|  | Container Corp. of India Ltd. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8824 |
|  | Coromandel International Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12795 |
|  | CRISIL Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5501 |
|  | Cummins India Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20216 |
|  | Dabur India Ltd. | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12154 |
|  | Dalmia Bharat Ltd. | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7259 |
|  | Deepak Nitrite Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6256 |
|  | Divi's Laboratories Ltd. | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38589 |
| <sup>d</sup> | Dixon Technologies India Ltd. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20965 |
|  | DLF Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23094 |
| <sup>b</sup> | Dr. Lal PathLabs Ltd. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4304 |
|  | Dr. Reddy's Laboratories Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34566 |
|  | Eicher Motors Ltd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32847 |
|  | Emami Ltd. | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4759 |
|  | Embassy Office Parks REIT | &nbsp;&nbsp;Office REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14797 |
| <sup>b</sup> | Endurance Technologies Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3876 |
|  | Escorts Kubota Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3966 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| <sup>a</sup> | Eternal Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp; 16770 | &nbsp;&nbsp; 51653 |
|  | Exide Industries Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp; 1578 | &nbsp;&nbsp; 7135 |
|  | Federal Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 6750 | &nbsp;&nbsp; 16774 |
|  | Fortis Healthcare Ltd. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp; 1824 | &nbsp;&nbsp; 16898 |
| <sup>a</sup> | FSN E-Commerce Ventures Ltd. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp; 4260 | &nbsp;&nbsp; 10351 |
|  | GAIL India Ltd. | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp; 10074 | &nbsp;&nbsp; 22417 |
|  | GE Vernova T&D India Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp; 468 | &nbsp;&nbsp; 12885 |
| <sup>b</sup> | General Insurance Corp. of India | &nbsp;&nbsp;Insurance | &nbsp;&nbsp; 1158 | &nbsp;&nbsp; 5201 |
|  | GlaxoSmithKline Pharmaceuticals Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp; 162 | &nbsp;&nbsp; 6400 |
|  | Glenmark Pharmaceuticals Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11657 |
| <sup>a</sup> | GMR Airports Ltd. | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9738 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9673 |
|  | Godrej Consumer Products Ltd. | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20611 |
| <sup>a</sup> | Godrej Industries Ltd. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3139 |
| <sup>a</sup> | Godrej Properties Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14098 |
|  | Grasim Industries Ltd. | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43981 |
|  | Gujarat Fluorochemicals Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6605 |
|  | Gujarat Gas Ltd. | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3621 |
|  | Havells India Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15410 |
|  | HCL Technologies Ltd. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78851 |
| <sup>b</sup> | HDFC Asset Management Co. Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22157 |
|  | HDFC Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;493607 |
| <sup>b</sup> | HDFC Life Insurance Co. Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33442 |
|  | Hero MotoCorp Ltd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24012 |
|  | Hindalco Industries Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43869 |
| <sup>d</sup> | Hindustan Aeronautics Ltd. | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40203 |
|  | Hindustan Petroleum Corp. Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18266 |
|  | Hindustan Unilever Ltd. | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88295 |
|  | Hindustan Zinc Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7318 |
|  | Hitachi Energy India Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11198 |
|  | Honeywell Automation India Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3671 |
|  | Housing & Urban Development Corp. Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5219 |
| <sup>a</sup> | Hyundai Motor India Ltd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;528 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13666 |
|  | ICICI Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;331981 |
| <sup>b</sup> | ICICI Lombard General Insurance Co. Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21268 |
| <sup>b</sup> | ICICI Prudential Life Insurance Co. Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10448 |
|  | IDBI Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2229 |
| <sup>a</sup> | IDFC First Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11456 |
|  | Indian Bank | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;966 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7248 |
|  | Indian Hotels Co. Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28139 |
|  | Indian Oil Corp. Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24039 |
|  | Indian Railway Catering & Tourism Corp. Ltd. | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1098 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10006 |
| <sup>b</sup> | Indian Railway Finance Corp. Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10867 |
| <sup>a</sup> | Indian Renewable Energy Development Agency Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2592 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5142 |
|  | Indraprastha Gas Ltd. | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6920 |
| <sup>a</sup> | Indus Towers Ltd. | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23952 |
| <sup>a</sup> | IndusInd Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4515 |
|  | Info Edge India Ltd. | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22595 |
|  | Infosys Ltd. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245537 |
| <sup>a,b</sup> | InterGlobe Aviation Ltd. | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49340 |
|  | Ipca Laboratories Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8362 |
|  | IRB Infrastructure Developers Ltd. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4335 |
| <sup>a</sup> | ITC Hotels Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9040 |
|  | ITC Ltd. | &nbsp;&nbsp;Tobacco | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54135 |
|  | Jindal Stainless Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9175 |
|  | Jindal Steel & Power Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15219 |
| <sup>a</sup> | Jio Financial Services Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44326 |
|  | JSW Energy Ltd. | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11871 |
|  | JSW Infrastructure Ltd. | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3461 |
|  | JSW Steel Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38769 |
|  | Jubilant Foodworks Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11538 |
|  | Kalyan Jewellers India Ltd. | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9178 |
|  | Kansai Nerolac Paints Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2346 |
| <sup>a</sup> | Kaynes Technology India Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7249 |
|  | KEI Industries Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10083 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Kotak Mahindra Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 4080 | &nbsp;&nbsp; 102928 |
|  | KPIT Technologies Ltd. | &nbsp;&nbsp;Software | &nbsp;&nbsp; 552 | &nbsp;&nbsp; 8102 |
|  | L&T Finance Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp; 2982 | &nbsp;&nbsp; 7163 |
| <sup>b</sup> | L&T Technology Services Ltd. | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp; 102 | &nbsp;&nbsp; 5236 |
|  | Larsen & Toubro Ltd. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp; 2514 | &nbsp;&nbsp; 107578 |
| <sup>b</sup> | Laurus Labs Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp; 1368 | &nbsp;&nbsp; 11562 |
|  | LIC Housing Finance Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp; 1086 | &nbsp;&nbsp; 7837 |
|  | Linde India Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 84 | &nbsp;&nbsp; 6519 |
|  | Lloyds Metals & Energy Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 438 | &nbsp;&nbsp; 8115 |
| <sup>b</sup> | LTIMindtree Ltd. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21575 |
|  | Lupin Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20745 |
| <sup>b</sup> | Macrotech Developers Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16851 |
|  | Mahindra & Mahindra Financial Services Ltd. | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7271 |
|  | Mahindra & Mahindra Ltd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128946 |
|  | Mangalore Refinery & Petrochemicals Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1123 |
| <sup>a</sup> | Mankind Pharma Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11361 |
|  | Marico Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16020 |
|  | Maruti Suzuki India Ltd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71138 |
| <sup>a</sup> | Max Financial Services Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18899 |
|  | Max Healthcare Institute Ltd. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2802 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41690 |
|  | Mazagon Dock Shipbuilders Ltd. | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10895 |
|  | Metro Brands Ltd. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2575 |
|  | Motilal Oswal Financial Services Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5418 |
|  | Mphasis Ltd. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14134 |
|  | MRF Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13280 |
|  | Muthoot Finance Ltd. | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11932 |
|  | National Aluminium Co. Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7505 |
|  | Nestle India Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38290 |
| <sup>b</sup> | New India Assurance Co. Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1912 |
|  | NHPC Ltd. | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11617 |
| <sup>b</sup> | Nippon Life India Asset Management Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6325 |
|  | NLC India Ltd. | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3431 |
|  | NMDC Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10373 |
| <sup>a</sup> | NTPC Green Energy Ltd. | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4285 |
|  | NTPC Ltd. | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68604 |
|  | Oberoi Realty Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9466 |
|  | Oil & Natural Gas Corp. Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41450 |
|  | Oil India Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10117 |
| <sup>a</sup> | One 97 Communications Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12347 |
|  | Oracle Financial Services Software Ltd. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9430 |
|  | Page Industries Ltd. | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13827 |
|  | Patanjali Foods Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;408 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7853 |
| <sup>a</sup> | PB Fintech Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24628 |
|  | Persistent Systems Ltd. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27051 |
|  | Petronet LNG Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9674 |
|  | Phoenix Mills Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;696 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12674 |
|  | PI Industries Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14646 |
|  | Pidilite Industries Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20515 |
|  | Piramal Enterprises Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5524 |
|  | Polycab India Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14208 |
| <sup>a</sup> | Poonawalla Fincorp Ltd. | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5087 |
|  | Power Finance Corp. Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26912 |
|  | Power Grid Corp. of India Ltd. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59064 |
| <sup>b</sup> | Premier Energies Ltd. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4232 |
|  | Prestige Estates Projects Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11248 |
|  | Punjab National Bank | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11063 |
| <sup>d</sup> | Rail Vikas Nigam Ltd. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10017 |
| <sup>b</sup> | RBL Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4989 |
|  | REC Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21621 |
|  | Relaxo Footwears Ltd. | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1430 |
|  | Reliance Industries Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445036 |
|  | Samvardhana Motherson International Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19856 |
|  | SBI Cards & Payment Services Ltd. | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12469 |
| <sup>b</sup> | SBI Life Insurance Co. Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34082 |
|  | Schaeffler India Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7362 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

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| | | | | |
|:---|:---|:---|:---|:---|
|  | Shree Cement Ltd. | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp; 36 | &nbsp;&nbsp; 13026 |
|  | Shriram Finance Ltd. | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp; 4644 | &nbsp;&nbsp; 38277 |
|  | Siemens Ltd. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp; 336 | &nbsp;&nbsp; 12739 |
|  | SJVN Ltd. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp; 2814 | &nbsp;&nbsp; 3299 |
|  | Solar Industries India Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 90 | &nbsp;&nbsp; 18468 |
| <sup>b</sup> | Sona Blw Precision Forgings Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp; 1668 | &nbsp;&nbsp; 9362 |
|  | SRF Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 528 | &nbsp;&nbsp; 19961 |
| <sup>a</sup> | Star Health & Allied Insurance Co. Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp; 888 | &nbsp;&nbsp; 4377 |
|  | State Bank of India | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 6684 | &nbsp;&nbsp; 63937 |
|  | Steel Authority of India Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8062 |
|  | Sun Pharmaceutical Industries Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77728 |
|  | Sun TV Network Ltd. | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2303 |
|  | Sundaram Finance Ltd. | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15202 |
|  | Supreme Industries Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11368 |
| <sup>a</sup> | Suzlon Energy Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32080 |
| <sup>a</sup> | Swiggy Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6947 |
| <sup>b</sup> | Syngene International Ltd. | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5543 |
|  | Tata Communications Ltd. | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;408 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8043 |
|  | Tata Consultancy Services Ltd. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154046 |
|  | Tata Consumer Products Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31060 |
|  | Tata Elxsi Ltd. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9271 |
|  | Tata Motors Ltd., Class A | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61572 |
|  | Tata Power Co. Ltd. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29756 |
|  | Tata Steel Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57540 |
|  | Tata Technologies Ltd. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4726 |
| <sup>a</sup> | Tata Teleservices Maharashtra Ltd. | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1507 |
|  | Tech Mahindra Ltd. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45794 |
|  | Thermax Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4306 |
| <sup>a</sup> | Titan Co. Ltd. | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58864 |
|  | Torrent Pharmaceuticals Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15976 |
|  | Torrent Power Ltd. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12013 |
|  | Trent Ltd. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49154 |
|  | Tube Investments of India Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14356 |
|  | TVS Motor Co. Ltd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29602 |
|  | UltraTech Cement Ltd. | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63454 |
|  | Union Bank of India Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10349 |
|  | United Breweries Ltd. | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6143 |
|  | United Spirits Ltd. | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18084 |
|  | UNO Minda Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8499 |
|  | UPL Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16470 |
|  | Varun Beverages Ltd. | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26804 |
|  | Vedant Fashions Ltd. | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2214 |
|  | Vedanta Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32468 |
| <sup>a</sup> | Vishal Mega Mart Ltd. | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11848 |
| <sup>a</sup> | Vodafone Idea Ltd. | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8387 |
|  | Voltas Ltd. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13055 |
| <sup>a</sup> | WAAREE Energies Ltd. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10982 |
|  | Whirlpool of India Ltd. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4118 |
|  | Wipro Ltd. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32379 |
| <sup>a</sup> | Yes Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16379 |
|  | Zee Entertainment Enterprises Ltd. | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5505 |
|  | Zydus Lifesciences Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11082 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;6858234 |
|  | **Indonesia 1.3%** |  |  |  |
|  | Alamtri Resources Indonesia Tbk. PT, Class B | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3990 |
| <sup>a</sup> | Amman Mineral Internasional PT | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23422 |
|  | Astra International Tbk. PT, Class H | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21121 |
|  | Avia Avian Tbk. PT | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;999 |
|  | Bank Central Asia Tbk. PT, Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;183300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97944 |
|  | Bank Mandiri Persero Tbk. PT, Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;162000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48695 |
|  | Bank Negara Indonesia Persero Tbk. PT, Class H | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11420 |
|  | Bank Rakyat Indonesia Persero Tbk. PT, Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;246600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56808 |
|  | Bank Syariah Indonesia Tbk. PT | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1907 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| <sup>a</sup> | Barito Pacific Tbk. PT, Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 77400 | &nbsp;&nbsp; 7914 |
|  | Bukit Asam Tbk. PT, Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 12000 | &nbsp;&nbsp; 1818 |
| <sup>a</sup> | Bumi Serpong Damai Tbk. PT, Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp; 11400 | &nbsp;&nbsp; 551 |
|  | Charoen Pokphand Indonesia Tbk. PT, Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp; 28200 | &nbsp;&nbsp; 8164 |
|  | Dayamitra Telekomunikasi PT | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp; 69600 | &nbsp;&nbsp; 2379 |
|  | Elang Mahkota Teknologi Tbk. PT | &nbsp;&nbsp;Media | &nbsp;&nbsp; 60600 | &nbsp;&nbsp; 1807 |
|  | First Pacific Co. Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp; 8000 | &nbsp;&nbsp; 5666 |
| <sup>a</sup> | GoTo Gojek Tokopedia Tbk. PT | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;3231000 | &nbsp;&nbsp; 11543 |
| <sup>a</sup> | Gudang Garam Tbk. PT | &nbsp;&nbsp;Tobacco | &nbsp;&nbsp; 1800 | &nbsp;&nbsp; 1014 |
|  | Indah Kiat Pulp & Paper Tbk. PT | &nbsp;&nbsp;Paper & Forest Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3613 |
|  | Indocement Tunggal Prakarsa Tbk. PT | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1181 |
|  | Indofood CBP Sukses Makmur Tbk. PT | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5045 |
|  | Indofood Sukses Makmur Tbk. PT | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8408 |
|  | Indosat Tbk. PT | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2781 |
|  | Jasa Marga Persero Tbk. PT | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1214 |
|  | Kalbe Farma Tbk. PT | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6876 |
|  | Mayora Indah Tbk. PT | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1777 |
| <sup>a</sup> | Merdeka Copper Gold Tbk. PT | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5691 |
|  | Perusahaan Gas Negara Tbk. PT | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3044 |
|  | Petrindo Jaya Kreasi Tbk. PT | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5122 |
|  | Sarana Menara Nusantara Tbk. PT | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1296 |
|  | Semen Indonesia Persero Tbk. PT | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2187 |
|  | Sumber Alfaria Trijaya Tbk. PT | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11085 |
|  | Telkom Indonesia Persero Tbk. PT, Class B | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;162600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27843 |
|  | Tower Bersama Infrastructure Tbk. PT | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340 |
|  | Trimegah Bangun Persada Tbk. PT | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1268 |
|  | Unilever Indonesia Tbk. PT | &nbsp;&nbsp;Household Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2036 |
|  | United Tractors Tbk. PT | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7135 |
|  | Vale Indonesia Tbk. PT | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1785 |
|  | XLSMART Telecom Sejahtera Tbk. PT | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2328 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;409217 |
|  | **Italy 0.0%<sup>†</sup>** |  |  |  |
|  | PRADA SpA | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11167 |
|  | **Macau 0.2%** |  |  |  |
|  | Galaxy Entertainment Group Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35693 |
|  | MGM China Holdings Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3938 |
|  | Sands China Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14987 |
| <sup>a</sup> | SJM Holdings Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3868 |
|  | Wynn Macau Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3314 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61800 |
|  | **Malaysia 1.7%** |  |  |  |
|  | 99 Speed Mart Retail Holdings Bhd. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2680 |
|  | Alliance Bank Malaysia Bhd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3071 |
|  | AMMB Holdings Bhd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12355 |
|  | Axiata Group Bhd., Class A | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8888 |
|  | CelcomDigi Bhd. | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13441 |
|  | CIMB Group Holdings Bhd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50314 |
|  | Dialog Group Bhd., Class A | &nbsp;&nbsp;Energy Equipment & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6079 |
|  | Fraser & Neave Holdings Bhd. | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4198 |
|  | Gamuda Bhd. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21160 |
|  | Genting Bhd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5216 |
|  | Genting Malaysia Bhd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4951 |
|  | Hartalega Holdings Bhd. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2571 |
|  | Hong Leong Bank Bhd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11172 |
|  | Hong Leong Financial Group Bhd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2366 |
|  | IHH Healthcare Bhd. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18465 |
|  | IJM Corp. Bhd. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7467 |
|  | IOI Corp. Bhd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9060 |
|  | Kuala Lumpur Kepong Bhd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8849 |
|  | Malayan Banking Bhd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64966 |
|  | Maxis Bhd. | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8745 |
|  | MISC Bhd. | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12979 |
| <sup>b</sup> | Mr. DIY Group M Bhd. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5141 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Nestle Malaysia Bhd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp; 240 | &nbsp;&nbsp; 4373 |
|  | Petronas Chemicals Group Bhd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 10800 | &nbsp;&nbsp; 8952 |
|  | Petronas Dagangan Bhd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 1200 | &nbsp;&nbsp; 6133 |
|  | Petronas Gas Bhd. | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp; 3600 | &nbsp;&nbsp; 15065 |
|  | PPB Group Bhd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp; 2400 | &nbsp;&nbsp; 5860 |
|  | Press Metal Aluminium Holdings Bhd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 12600 | &nbsp;&nbsp; 15501 |
|  | Public Bank Bhd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 54600 | &nbsp;&nbsp; 55890 |
|  | QL Resources Bhd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp; 5700 | &nbsp;&nbsp; 6227 |
|  | RHB Bank Bhd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 7800 | &nbsp;&nbsp; 11671 |
|  | SD Guthrie Bhd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15208 |
|  | Sime Darby Bhd. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5878 |
|  | Sunway Bhd. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10046 |
|  | Telekom Malaysia Bhd. | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6534 |
|  | Tenaga Nasional Bhd. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57377 |
| <sup>a</sup> | Top Glove Corp. Bhd. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3440 |
|  | YTL Corp. Bhd. | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7604 |
|  | YTL Power International Bhd. | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9074 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;528967 |
|  | **Philippines 0.6%** |  |  |  |
|  | ACEN Corp. | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1628 |
|  | Ayala Corp., Class A | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11536 |
|  | Ayala Land, Inc., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12079 |
|  | Bank of the Philippine Islands, Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16238 |
|  | BDO Unibank, Inc., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23111 |
|  | Bloomberry Resorts Corp., Class H | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980 |
|  | Converge Information & Communications Technology Solutions, Inc. | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3316 |
|  | DMCI Holdings, Inc., Class A | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2670 |
|  | Globe Telecom, Inc. | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3583 |
|  | GT Capital Holdings, Inc. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3668 |
|  | International Container Terminal Services, Inc. | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29331 |
|  | JG Summit Holdings, Inc. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4044 |
|  | Jollibee Foods Corp. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6273 |
|  | LT Group, Inc. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1644 |
|  | Manila Electric Co. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8604 |
|  | Megaworld Corp. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;839 |
|  | Metropolitan Bank & Trust Co. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8649 |
| <sup>b</sup> | Monde Nissin Corp. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2286 |
|  | PLDT, Inc. | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7778 |
|  | Puregold Price Club, Inc. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2595 |
|  | Semirara Mining & Power Corp. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1757 |
|  | SM Prime Holdings, Inc. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15486 |
|  | Universal Robina Corp. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4769 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172864 |
|  | **Singapore 3.3%** |  |  |  |
| <sup>b</sup> | BOC Aviation Ltd., Class A | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4968 |
|  | CapitaLand Ascendas REIT, Class A | &nbsp;&nbsp;Industrial REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27775 |
|  | CapitaLand Ascott Trust, Class A | &nbsp;&nbsp;Hotel & Resort REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6671 |
|  | CapitaLand Integrated Commercial Trust, Class A | &nbsp;&nbsp;Retail REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36011 |
|  | CapitaLand Investment Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17477 |
|  | City Developments Ltd., Class H | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4890 |
|  | ComfortDelGro Corp. Ltd., Class H | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8757 |
|  | DBS Group Holdings Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264456 |
| <sup>d</sup> | Frasers Logistics & Commercial Trust | &nbsp;&nbsp;Industrial REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7250 |
|  | Genting Singapore Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12126 |
|  | Jardine Cycle & Carriage Ltd. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3830 |
|  | Keppel DC REIT | &nbsp;&nbsp;Specialized REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12074 |
|  | Keppel Ltd. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31459 |
|  | Keppel REIT | &nbsp;&nbsp;Office REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5837 |
|  | Mapletree Industrial Trust | &nbsp;&nbsp;Industrial REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12493 |
|  | Mapletree Logistics Trust | &nbsp;&nbsp;Industrial REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11674 |
|  | Mapletree Pan Asia Commercial Trust | &nbsp;&nbsp;Diversified REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7716 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| <sup>d</sup> | Netlink NBN Trust | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp; 11400 | &nbsp;&nbsp; 7877 |
|  | Olam Group Ltd. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp; 3000 | &nbsp;&nbsp; 2238 |
|  | Oversea-Chinese Banking Corp. Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 12000 | &nbsp;&nbsp; 153669 |
|  | SATS Ltd. | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp; 3600 | &nbsp;&nbsp; 8593 |
|  | Seatrium Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 7800 | &nbsp;&nbsp; 12309 |
|  | Sembcorp Industries Ltd. | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp; 3000 | &nbsp;&nbsp; 16135 |
|  | SIA Engineering Co. Ltd. | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp; 600 | &nbsp;&nbsp; 1484 |
|  | Singapore Airlines Ltd. | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp; 5400 | &nbsp;&nbsp; 29551 |
|  | Singapore Exchange Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp; 3000 | &nbsp;&nbsp; 35049 |
|  | Singapore Technologies Engineering Ltd. | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33028 |
|  | Singapore Telecommunications Ltd. | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79180 |
|  | StarHub Ltd. | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2186 |
|  | Suntec Real Estate Investment Trust | &nbsp;&nbsp;Diversified REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7453 |
|  | United Overseas Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130020 |
|  | UOL Group Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8734 |
|  | Venture Corp. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8958 |
|  | Wilmar International Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14872 |
|  | Yangzijiang Financial Holding Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4880 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;1031680 |
|  | **South Korea 11.2%** |  |  |  |
| <sup>a</sup> | Alteogen, Inc., Class A | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41346 |
|  | Amorepacific Corp., Class H | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10939 |
|  | Amorepacific Holdings Corp., Class A | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2258 |
|  | BGF retail Co. Ltd. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2690 |
|  | BNK Financial Group, Inc., Class H | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8635 |
| <sup>a</sup> | Celltrion Pharm, Inc., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2649 |
|  | Celltrion, Inc., Class A | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65278 |
|  | Cheil Worldwide, Inc., Class A | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4011 |
|  | CJ CheilJedang Corp., Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5535 |
|  | CJ Corp., Class A | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5708 |
|  | CJ Logistics Corp., Class A | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1943 |
| <sup>a</sup> | CosmoAM&T Co. Ltd. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2107 |
|  | Coway Co. Ltd. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14201 |
|  | DB Insurance Co. Ltd., Class A | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14800 |
|  | Dongsuh Cos., Inc., Class A | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2525 |
|  | Doosan Bobcat, Inc., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7504 |
| <sup>a</sup> | Doosan Enerbility Co. Ltd., Class H | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83321 |
| <sup>a</sup> | Ecopro BM Co. Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12970 |
|  | Ecopro Co. Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12445 |
| <sup>a</sup> | Ecopro Materials Co. Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3229 |
|  | E-MART, Inc., Class A | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4176 |
|  | F&F Co. Ltd. | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2810 |
|  | Green Cross Corp. | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2246 |
|  | GS Engineering & Construction Corp. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3782 |
|  | GS Holdings Corp. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5392 |
|  | GS Retail Co. Ltd. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1493 |
|  | Hana Financial Group, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66375 |
|  | Hanjin Kal Corp. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9459 |
|  | Hankook Tire & Technology Co. Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7599 |
|  | Hanmi Pharm Co. Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5086 |
|  | Hanmi Science Co. Ltd. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2390 |
|  | Hanmi Semiconductor Co. Ltd. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11790 |
| <sup>a</sup> | Hanon Systems | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1433 |
|  | Hanwha Aerospace Co. Ltd. | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70373 |
|  | Hanwha Corp. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7127 |
| <sup>a</sup> | Hanwha Life Insurance Co. Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2446 |
| <sup>a</sup> | Hanwha Ocean Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21886 |
|  | Hanwha Solutions Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9132 |
| <sup>a</sup> | Hanwha Vision Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4687 |
|  | HD Hyundai Co. Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14969 |
|  | HD Hyundai Electric Co. Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31556 |
|  | HD Hyundai Heavy Industries Co. Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26670 |
|  | HD Hyundai Marine Solution Co. Ltd., Class C | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7309 |
|  | HD Hyundai Mipo | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13133 |

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FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

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| | | | | |
|:---|:---|:---|:---|:---|
|  | HD Korea Shipbuilding & Offshore Engineering Co. Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 168 | &nbsp;&nbsp; 45560 |
|  | Hite Jinro Co. Ltd. | &nbsp;&nbsp;Beverages | &nbsp;&nbsp; 120 | &nbsp;&nbsp; 1832 |
|  | HL Mando Co. Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp; 126 | &nbsp;&nbsp; 3067 |
| <sup>a</sup> | HLB, Inc. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp; 444 | &nbsp;&nbsp; 16153 |
|  | HMM Co. Ltd. | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp; 1068 | &nbsp;&nbsp; 17805 |
| <sup>a</sup> | Hotel Shilla Co. Ltd. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp; 120 | &nbsp;&nbsp; 4597 |
|  | HYBE Co. Ltd. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp; 84 | &nbsp;&nbsp; 19232 |
|  | Hyundai Autoever Corp. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp; 24 | &nbsp;&nbsp; 3034 |
|  | Hyundai Engineering & Construction Co. Ltd. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp; 270 | &nbsp;&nbsp; 15705 |
|  | Hyundai Glovis Co. Ltd. | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13784 |
| <sup>a</sup> | Hyundai Marine & Fire Insurance Co. Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4468 |
|  | Hyundai Mobis Co. Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47209 |
|  | Hyundai Motor Co. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76901 |
|  | Hyundai Steel Co. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7058 |
|  | iM Financial Group Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4806 |
|  | Industrial Bank of Korea | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12583 |
|  | Kakao Corp. | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50948 |
| <sup>a</sup> | Kakao Games Corp. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2210 |
|  | KakaoBank Corp. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15605 |
| <sup>a</sup> | Kakaopay Corp. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4774 |
|  | Kangwon Land, Inc. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5614 |
|  | KB Financial Group, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111919 |
|  | KCC Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4161 |
|  | KEPCO Plant Service & Engineering Co. Ltd. | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3741 |
|  | Kia Corp. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64619 |
|  | Korea Aerospace Industries Ltd. | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17167 |
|  | Korea Electric Power Corp. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27605 |
|  | Korea Gas Corp. | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3148 |
|  | Korea Investment Holdings Co. Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15516 |
|  | Korea Zinc Co. Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10923 |
|  | Korean Air Lines Co. Ltd. | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11708 |
| <sup>a</sup> | Krafton, Inc. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27435 |
|  | KT&G Corp. | &nbsp;&nbsp;Tobacco | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36334 |
|  | Kumho Petrochemical Co. Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4493 |
| <sup>a</sup> | L&F Co. Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3507 |
|  | LG Chem Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27268 |
|  | LG Corp. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18756 |
| <sup>a</sup> | LG Display Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7170 |
|  | LG Electronics, Inc. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21654 |
| <sup>a</sup> | LG Energy Solution Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34330 |
|  | LG H&H Co. Ltd. | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8522 |
|  | LG Innotek Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5898 |
|  | LG Uplus Corp. | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8010 |
|  | Lotte Chemical Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3137 |
|  | Lotte Corp. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2101 |
|  | Lotte Shopping Co. Ltd. | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2309 |
|  | LS Corp. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9634 |
|  | LS Electric Co. Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11964 |
|  | Meritz Financial Group, Inc. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23507 |
|  | Mirae Asset Securities Co. Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11443 |
|  | Misto Holdings Corp. | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3655 |
|  | NAVER Corp. | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108532 |
|  | NCSoft Corp. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7344 |
| <sup>b</sup> | Netmarble Corp. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3859 |
|  | NH Investment & Securities Co. Ltd., Class C | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7110 |
|  | NongShim Co. Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3494 |
|  | Orion Corp. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6772 |
|  | Otoki Corp. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1752 |
|  | Pan Ocean Co. Ltd. | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2626 |
| <sup>a</sup> | Pearl Abyss Corp. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3197 |
|  | Posco DX Co. Ltd. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3545 |
| <sup>a</sup> | POSCO Future M Co. Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10115 |
|  | POSCO Holdings, Inc. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51055 |
|  | Posco International Corp. | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6408 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | S-1 Corp. | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp; 72 | &nbsp;&nbsp; 3660 |
| <sup>a,b</sup> | Samsung Biologics Co. Ltd. | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp; 66 | &nbsp;&nbsp; 48512 |
|  | Samsung C&T Corp. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp; 282 | &nbsp;&nbsp; 33725 |
|  | Samsung Card Co. Ltd. | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp; 90 | &nbsp;&nbsp; 3294 |
|  | Samsung E&A Co. Ltd. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp; 558 | &nbsp;&nbsp; 9137 |
|  | Samsung Electro-Mechanics Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp; 204 | &nbsp;&nbsp; 20361 |
|  | Samsung Electronics Co. Ltd. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp; 17454 | &nbsp;&nbsp; 773377 |
|  | Samsung Fire & Marine Insurance Co. Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp; 114 | &nbsp;&nbsp; 36660 |
| <sup>a</sup> | Samsung Heavy Industries Co. Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 2358 | &nbsp;&nbsp; 29283 |
|  | Samsung Life Insurance Co. Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27753 |
|  | Samsung SDI Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28937 |
|  | Samsung SDS Co. Ltd. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18096 |
|  | Samsung Securities Co. Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12434 |
|  | Shinhan Financial Group Co. Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74248 |
| <sup>a</sup> | SK Biopharmaceuticals Co. Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6953 |
| <sup>a</sup> | SK Bioscience Co. Ltd. | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3397 |
|  | SK Hynix, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;436183 |
| <sup>a,b</sup> | SK IE Technology Co. Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2033 |
|  | SK Innovation Co. Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21222 |
| <sup>a</sup> | SK Square Co. Ltd. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45560 |
|  | SK, Inc. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26366 |
| <sup>a</sup> | SKC Co. Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5879 |
|  | S-Oil Corp. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6924 |
|  | Woori Financial Group, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42318 |
|  | Yuhan Corp. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15750 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;3499863 |
|  | **Taiwan 20.2%** |  |  |  |
|  | Accton Technology Corp. | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45881 |
|  | Acer, Inc., Class H | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12447 |
|  | Advantech Co. Ltd. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20252 |
|  | Alchip Technologies Ltd. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31573 |
|  | ASE Technology Holding Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60592 |
|  | Asia Cement Corp. | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12615 |
|  | Asia Vital Components Co. Ltd. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31132 |
|  | ASMedia Technology, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9154 |
|  | ASPEED Technology, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17218 |
|  | Asustek Computer, Inc. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55555 |
|  | AUO Corp., Class H | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10147 |
|  | Capital Securities Corp., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4026 |
|  | Catcher Technology Co. Ltd. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15676 |
|  | Cathay Financial Holding Co. Ltd., Class A | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77393 |
|  | Chailease Holding Co. Ltd., Class A | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23887 |
|  | Chang Hwa Commercial Bank Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15855 |
|  | Cheng Shin Rubber Industry Co. Ltd., Class A | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9317 |
|  | Chicony Electronics Co. Ltd. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10058 |
|  | China Airlines Ltd., Class A | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8873 |
|  | China Motor Corp., Class A | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1684 |
|  | China Steel Corp., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27030 |
|  | Chroma ATE, Inc. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22722 |
|  | Chunghwa Telecom Co. Ltd. | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65624 |
|  | Compal Electronics, Inc., Class H | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11913 |
|  | CTBC Financial Holding Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89758 |
|  | Delta Electronics, Inc., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101228 |
|  | E Ink Holdings, Inc. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22696 |
|  | E.Sun Financial Holding Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64190 |
| <sup>a</sup> | Eclat Textile Co. Ltd., Class A | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10105 |
|  | Elite Material Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30978 |
|  | eMemory Technology, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21328 |
|  | Ennostar, Inc., Class H | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3054 |
|  | Eternal Materials Co. Ltd., Class H | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2465 |
|  | Eva Airways Corp., Class H | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16391 |
|  | Evergreen Marine Corp. Taiwan Ltd. | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27385 |
|  | Far Eastern International Bank | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2783 |
|  | Far Eastern New Century Corp. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13515 |

---

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FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

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| | | | | |
|:---|:---|:---|:---|:---|
|  | Far EasTone Telecommunications Co. Ltd. | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp; 6000 | &nbsp;&nbsp; 18403 |
|  | Feng TAY Enterprise Co. Ltd. | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp; 1800 | &nbsp;&nbsp; 7548 |
|  | First Financial Holding Co. Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 42000 | &nbsp;&nbsp; 41767 |
| <sup>a,b</sup> | FIT Hon Teng Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp; 6000 | &nbsp;&nbsp; 1796 |
|  | Formosa Chemicals & Fibre Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 12000 | &nbsp;&nbsp; 9407 |
|  | Formosa Petrochemical Corp. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 4360 | &nbsp;&nbsp; 5373 |
|  | Formosa Plastics Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 15600 | &nbsp;&nbsp; 18611 |
|  | Formosa Taffeta Co. Ltd. | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp; 6000 | &nbsp;&nbsp; 3204 |
|  | Fortune Electric Co. Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp; 500 | &nbsp;&nbsp; 9636 |
|  | Foxconn Technology Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7608 |
|  | Fubon Financial Holding Co. Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89655 |
|  | Genius Electronic Optical Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5151 |
|  | Giant Manufacturing Co. Ltd. | &nbsp;&nbsp;Leisure Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4457 |
|  | Gigabyte Technology Co. Ltd. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19763 |
|  | Global Unichip Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13402 |
|  | Globalwafers Co. Ltd. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9702 |
|  | Hiwin Technologies Corp. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8627 |
|  | Hon Hai Precision Industry Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249117 |
| <sup>a</sup> | Hotai Motor Co. Ltd. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19693 |
| <sup>a</sup> | HTC Corp. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3241 |
|  | Hua Nan Financial Holdings Co. Ltd., Class C | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31993 |
|  | Innolux Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10574 |
|  | International Games System Co. Ltd. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24320 |
|  | Inventec Corp. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14480 |
|  | Jentech Precision Industrial Co. Ltd. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15507 |
|  | KGI Financial Holding Co. Ltd., Class A | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30707 |
|  | King Slide Works Co. Ltd. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16301 |
|  | King Yuan Electronics Co. Ltd. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13967 |
|  | Largan Precision Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29493 |
|  | Lite-On Technology Corp. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27992 |
|  | Lotes Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13864 |
|  | MediaTek, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232781 |
|  | Mega Financial Holding Co. Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60791 |
|  | Micro-Star International Co. Ltd. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11790 |
|  | momo.com, Inc. | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2367 |
|  | Nan Ya Plastics Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17140 |
|  | Nan Ya Printed Circuit Board Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2991 |
| <sup>a</sup> | Nanya Technology Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6573 |
|  | Nien Made Enterprise Co. Ltd. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8370 |
|  | Novatek Microelectronics Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40299 |
| <sup>a</sup> | Oneness Biotech Co. Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3161 |
|  | Pegatron Corp. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18850 |
| <sup>a</sup> | PharmaEssentia Corp. | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;966 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18122 |
| <sup>a</sup> | Pou Chen Corp. | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6357 |
| <sup>a</sup> | Powerchip Semiconductor Manufacturing Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6326 |
|  | Powertech Technology, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10804 |
|  | President Chain Store Corp. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17561 |
|  | Quanta Computer, Inc. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92277 |
|  | Realtek Semiconductor Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34938 |
|  | Ruentex Development Co. Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6110 |
|  | Shanghai Commercial & Savings Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19061 |
|  | Shihlin Electric & Engineering Corp. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6145 |
| <sup>a</sup> | Shin Kong Financial Holding Co. Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22546 |
|  | Sino-American Silicon Products, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6751 |
|  | SinoPac Financial Holdings Co. Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30693 |
|  | Synnex Technology International Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10141 |
|  | Taishin Financial Holding Co. Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22645 |
|  | Taiwan Business Bank | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12611 |
|  | Taiwan Cooperative Financial Holding Co. Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30501 |
|  | Taiwan Fertilizer Co. Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5453 |
| <sup>a</sup> | Taiwan Glass Industry Corp. | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3286 |
|  | Taiwan High Speed Rail Corp. | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5802 |
|  | Taiwan Mobile Co. Ltd. | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23620 |
|  | Taiwan Secom Co. Ltd. | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3163 |
|  | Taiwan Semiconductor Manufacturing Co. Ltd. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90682 | &nbsp;&nbsp;&nbsp;&nbsp;3290529 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Tatung Co. Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp; 5700 | &nbsp;&nbsp; 7746 |
|  | TCC Group Holdings Co. Ltd. | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp; 24000 | &nbsp;&nbsp; 20950 |
|  | Teco Electric & Machinery Co. Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp; 6000 | &nbsp;&nbsp; 9715 |
|  | Transcend Information, Inc. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp; 1020 | &nbsp;&nbsp; 3509 |
|  | U-Ming Marine Transport Corp. | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp; 1500 | &nbsp;&nbsp; 2485 |
|  | Unimicron Technology Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp; 4920 | &nbsp;&nbsp; 19200 |
|  | Uni-President Enterprises Corp. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp; 18000 | &nbsp;&nbsp; 49911 |
|  | United Microelectronics Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 43320 | &nbsp;&nbsp; 65546 |
|  | Vanguard International Semiconductor Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 3929 | &nbsp;&nbsp; 13517 |
|  | Voltronic Power Technology Corp. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10783 |
|  | Walsin Lihwa Corp. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8277 |
|  | Walsin Technology Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3340 |
|  | Wan Hai Lines Ltd. | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10968 |
|  | Win Semiconductors Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4452 |
| <sup>a</sup> | Winbond Electronics Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8784 |
|  | Wistron Corp. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43386 |
|  | Wiwynn Corp. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31179 |
|  | WPG Holdings Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14419 |
|  | Yageo Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23775 |
|  | Yang Ming Marine Transport Corp. | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16064 |
|  | Yuanta Financial Holding Co. Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43208 |
|  | Yulon Motor Co. Ltd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2163 |
|  | Zhen Ding Technology Holding Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8394 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;6294185 |
|  | **Thailand 1.4%** |  |  |  |
|  | Advanced Info Service PCL, NVDR | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35916 |
|  | Airports of Thailand PCL, Class H, NVDR | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12841 |
|  | Asset World Corp. PCL, Class H, NVDR | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1520 |
|  | B Grimm Power PCL, Class A, NVDR | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;960 |
|  | Bangkok Bank PCL, Class A, NVDR | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10262 |
|  | Bangkok Dusit Medical Services PCL, Class A, NVDR | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28024 |
|  | Bangkok Expressway & Metro PCL, Class H, NVDR | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3264 |
|  | Banpu PCL, Class A, NVDR | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3487 |
|  | Berli Jucker PCL, Class A, NVDR | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1410 |
| <sup>a</sup> | BTS Group Holdings PCL, Class A, NVDR | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3654 |
|  | Bumrungrad Hospital PCL, NVDR | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10299 |
|  | Carabao Group PCL, Class A, NVDR | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1809 |
|  | Central Pattana PCL, Class A, NVDR | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12804 |
|  | Central Retail Corp. PCL, Class A, NVDR | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5554 |
|  | Charoen Pokphand Foods PCL, Class A, NVDR | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9764 |
|  | CP ALL PCL, Class B, NVDR | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26799 |
|  | CP Axtra PCL, NVDR | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3256 |
|  | Delta Electronics Thailand PCL, Class A, NVDR | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31893 |
|  | Digital Telecommunications Infrastructure Fund, Class F, UNIT | &nbsp;&nbsp;Telecommunications | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4695 |
|  | Electricity Generating PCL, Class A, NVDR | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1864 |
|  | Global Power Synergy PCL, NVDR | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2159 |
| <sup>a</sup> | Gulf Development PCL, NVDR | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19333 |
|  | Home Product Center PCL, NVDR | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3719 |
|  | Indorama Ventures PCL, NVDR | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4121 |
|  | Kasikornbank PCL, NVDR | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30220 |
|  | Krung Thai Bank PCL, NVDR | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14153 |
|  | Krungthai Card PCL, NVDR | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2215 |
|  | Land & Houses PCL, NVDR | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2714 |
|  | Minor International PCL, NVDR | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9848 |
|  | Muangthai Capital PCL, NVDR | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2602 |
|  | Osotspa PCL, NVDR | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2492 |
|  | PTT Exploration & Production PCL, NVDR | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16168 |
|  | PTT Global Chemical PCL, NVDR | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4775 |
|  | PTT Oil & Retail Business PCL, NVDR | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3128 |
|  | PTT PCL, NVDR | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42081 |
|  | Ratch Group PCL, NVDR | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2233 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | SCB X PCL, NVDR | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 6000 | &nbsp;&nbsp; 21686 |
|  | SCG Packaging PCL, NVDR | &nbsp;&nbsp;Containers & Packaging | &nbsp;&nbsp; 3600 | &nbsp;&nbsp; 1883 |
|  | Siam Cement PCL, NVDR | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp; 2400 | &nbsp;&nbsp; 12403 |
|  | Srisawad Corp. PCL, NVDR | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp; 2948 | &nbsp;&nbsp; 1460 |
|  | Thai Beverage PCL | &nbsp;&nbsp;Beverages | &nbsp;&nbsp; 27000 | &nbsp;&nbsp; 9752 |
|  | Thai Life Insurance PCL, NVDR | &nbsp;&nbsp;Insurance | &nbsp;&nbsp; 7200 | &nbsp;&nbsp; 2215 |
|  | Thai Oil PCL, NVDR | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 4200 | &nbsp;&nbsp; 3488 |
|  | Thai Union Group PCL, NVDR | &nbsp;&nbsp;Food Products | &nbsp;&nbsp; 10200 | &nbsp;&nbsp; 3232 |
|  | TMBThanachart Bank PCL, NVDR | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 141600 | &nbsp;&nbsp; 8232 |
| <sup>a</sup> | True Corp. PCL, NVDR | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12292 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;448679 |
|  | **United Kingdom 0.2%** |  |  |  |
|  | CK Hutchison Holdings Ltd., Class A | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61529 |
|  | **United States 0.1%** |  |  |  |
|  | Parade Technologies Ltd. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6121 |
| <sup>b</sup> | Samsonite Group SA | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10043 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16164 |
|  | **Total Common Stocks (Cost $24,636,499)** |  |  | &nbsp;&nbsp;31236009 |
|  | **Preferred Stocks 0.5%** |  |  |  |
|  | **South Korea 0.5%** |  |  |  |
| <sup>e</sup> | Amorepacific Corp., 2.536%, pfd. | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1386 |
| <sup>e</sup> | Hanwha Corp., 2.12%, pfd. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2318 |
| <sup>e</sup> | Hyundai Motor Co., 7.93%, pfd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15541 |
| <sup>e</sup> | Hyundai Motor Co., 8.123%, pfd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9616 |
| <sup>e</sup> | LG Chem Ltd., 0.984%, pfd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2372 |
| <sup>e</sup> | LG Electronics, Inc., 1.507%, pfd. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1785 |
| <sup>e</sup> | Samsung Electronics Co. Ltd., 2.931%, pfd. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111133 |
| <sup>e</sup> | Samsung Fire & Marine Insurance Co. Ltd., 5.866%, pfd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2881 |
|  | **Total Preferred Stocks (Cost $140,882)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147032 |
|  | **Warrants 0.0%<sup>†</sup>** |  |  |  |
|  | **Malaysia 0.0%<sup>†</sup>** |  |  |  |
| <sup>a,c</sup> | YTL Corp. Bhd. | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;773 |
| <sup>a,c</sup> | YTL Power International Bhd. | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;698 |
|  | **Total Warrants (Cost $0)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1471 |
|  | **Rights 0.0%<sup>†</sup>** |  |  |  |
|  | **Malaysia 0.0%<sup>†</sup>** |  |  |  |
| <sup>a</sup> | Alliance Bank Malaysia Bhd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115 |
|  | **South Korea 0.0%<sup>†</sup>** |  |  |  |
| <sup>a</sup> | Hanwha Aerospace Co. Ltd. | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;972 |
| <sup>a</sup> | POSCO Future M Co. Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;267 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1239 |
|  | **Total Rights (Cost $0)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1354 |
|  | **Total Investments before Short-Term Investments (Cost $24,777,381)** |  |  | &nbsp;&nbsp;31385866 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Short-Term Investments 0.0%<sup>†</sup>** |  |  |
|  | **Money Market Funds 0.0%<sup>†</sup>** |  |  |
|  | **United States 0.0%<sup>†</sup>** |  |  |
| <sup>f,g</sup> | Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 138 |
|  | **Total Short-Term Investments (Cost $138)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138 |
|  | **Total Investments (Cost $24,777,519) 100.7%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31386004 |
|  | **Other Assets, less Liabilities (0.7)%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(202712) |
|  | **Net Assets 100.0%** |  | &nbsp;&nbsp;$31183292 |

---

---

| |
|:---|
| <sup>†</sup>Rounds to less than 0.1% of net assets. |
| <sup>a</sup>Non-income producing. |
| <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional buyers or in a public offering registered under the Securities Act of 1933. At June 30, 2025, the aggregate value of these securities was $2,021,564, representing 6.5% of net assets. |
| <sup>c</sup>Fair valued using significant unobservable inputs. See Note 5 regarding fair value measurements. |
| <sup>d</sup>Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption from registration. At June 30, 2025, the aggregate value of these securities was $116,736, representing 0.4% of net assets. |
| <sup>e</sup>Variable rate security. The rate shown represents the yield at period end. |
| <sup>f</sup>The rate shown is the annualized seven-day effective yield at period end. |
| <sup>g</sup>See Note 3 regarding investments in affiliated management investment companies. |

---

#### Abbreviations

---

| | |
|:---|:---|
| **Selected Portfolio** |  |
| **ADR** | American Depositary Receipt |
| **NVDR** | Non-Voting Depositary Receipt |
| **REIT** | Real Estate Investment Trust |
| **SF** | Single Family |
| **SPA** | Standby Purchase Agreement |
| **SRF** | State Revolving Fund |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Franklin FTSE Australia ETF** | &nbsp;&nbsp;**Industry** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
|  | **Common Stocks 99.9%** |  |  |  |
|  | **Australia 97.1%** |  |  |  |
|  | AGL Energy Ltd. | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp; 26076 | &nbsp;&nbsp;$166275 |
|  | ALS Ltd. | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp; 20705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 232030 |
|  | AMP Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;109388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 90326 |
|  | Ampol Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 10332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 174288 |
|  | Ansell Ltd. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp; 6314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125336 |
|  | ANZ Group Holdings Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;129478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2474326 |
|  | APA Group | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp;53997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;289111 |
|  | Aristocrat Leisure Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;24149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1031384 |
|  | ASX Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386128 |
|  | Atlas Arteria Ltd. | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;44198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147433 |
|  | Aurizon Holdings Ltd. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;76793 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152489 |
|  | Bank of Queensland Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;28249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144031 |
|  | Beach Energy Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;64616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55897 |
|  | Bendigo & Adelaide Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;24477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202758 |
|  | BHP Group Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;213364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5138683 |
|  | BlueScope Steel Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;18081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273839 |
|  | Brambles Ltd. | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;59491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;913086 |
|  | CAR Group Ltd. | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;15580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382071 |
|  | Challenger Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;21894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115934 |
|  | Charter Hall Group | &nbsp;&nbsp;Diversified REITs | &nbsp;&nbsp;&nbsp;&nbsp;20418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256780 |
|  | Cleanaway Waste Management Ltd. | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;97375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173576 |
|  | Cochlear Ltd. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;556974 |
|  | Coles Group Ltd. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;58097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;793460 |
|  | Commonwealth Bank of Australia | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;72734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8806337 |
|  | Computershare Ltd. | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;23165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;605577 |
|  | CSL Ltd. | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;21033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3300987 |
|  | Deterra Royalties Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;17999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44352 |
|  | Dexus | &nbsp;&nbsp;Office REITs | &nbsp;&nbsp;&nbsp;&nbsp;45838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199766 |
|  | Domain Holdings Australia Ltd. | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18165 |
|  | Domino's Pizza Enterprises Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35726 |
|  | Downer EDI Ltd. | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;29069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120208 |
|  | Dyno Nobel Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;74251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130896 |
|  | Endeavour Group Ltd. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;62279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163666 |
|  | Evolution Mining Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;86510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;441649 |
|  | Flight Centre Travel Group Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64048 |
|  | Fortescue Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;68962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;690568 |
|  | Goodman Group | &nbsp;&nbsp;Industrial REITs | &nbsp;&nbsp;&nbsp;&nbsp;86305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1936614 |
|  | GPT Group | &nbsp;&nbsp;Diversified REITs | &nbsp;&nbsp;&nbsp;&nbsp;83394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264517 |
|  | Harvey Norman Holdings Ltd. | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;22263 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76890 |
|  | IDP Education Ltd. | &nbsp;&nbsp;Diversified Consumer Services | &nbsp;&nbsp;&nbsp;&nbsp;11275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27118 |
|  | IGO Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;29274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 |
|  | Iluka Resources Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;18532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46151 |
| <sup>a</sup> | Insignia Financial Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;22263 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52962 |
|  | Insurance Australia Group Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;98359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;582070 |
|  | JB Hi-Fi Ltd. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340979 |
|  | Lendlease Corp. Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;29889 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105382 |
|  | Lottery Corp. Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;95653 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334117 |
| <sup>a</sup> | Lynas Rare Earths Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;39237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221397 |
|  | Macquarie Group Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;14883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2230935 |
|  | Magellan Financial Group Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40480 |
|  | Medibank Pvt Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;119761 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396351 |
|  | Metcash Ltd. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;46781 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119873 |
| <sup>a</sup> | Mineral Resources Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103116 |
|  | Mirvac Group | &nbsp;&nbsp;Diversified REITs | &nbsp;&nbsp;171175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246795 |
|  | National Australia Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;133127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3433955 |
|  | Netwealth Group Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115525 |
|  | New Hope Corp. Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;19762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47919 |
| <sup>a</sup> | NEXTDC Ltd. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;27921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265321 |
|  | Northern Star Resources Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;62238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;756611 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Orica Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 21156 | &nbsp;&nbsp; 270221 |
|  | Origin Energy Ltd. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp; 74538 | &nbsp;&nbsp; 527075 |
|  | Orora Ltd. | &nbsp;&nbsp;Containers & Packaging | &nbsp;&nbsp; 52439 | &nbsp;&nbsp; 64952 |
|  | Perpetual Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp; 4797 | &nbsp;&nbsp; 56776 |
| <sup>a</sup> | Pilbara Minerals Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;123164 | &nbsp;&nbsp; 107755 |
|  | Pro Medicus Ltd. | &nbsp;&nbsp;Health Care Technology | &nbsp;&nbsp; 2296 | &nbsp;&nbsp; 428955 |
|  | Qantas Airways Ltd. | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp; 32226 | &nbsp;&nbsp; 226821 |
|  | QBE Insurance Group Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp; 65805 | &nbsp;&nbsp; 1008701 |
|  | Qube Holdings Ltd. | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp; 72775 | &nbsp;&nbsp; 204127 |
|  | Ramsay Health Care Ltd. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8077 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194210 |
|  | REA Group Ltd. | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;323091 |
|  | Reece Ltd. | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;10332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97165 |
|  | Region Group | &nbsp;&nbsp;Retail REITs | &nbsp;&nbsp;&nbsp;&nbsp;49774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71763 |
|  | Rio Tinto Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;16072 | &nbsp;&nbsp;&nbsp;&nbsp;1128377 |
|  | Santos Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;141163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;708636 |
|  | Scentre Group | &nbsp;&nbsp;Retail REITs | &nbsp;&nbsp;227837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;531554 |
|  | SEEK Ltd. | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;14842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233927 |
|  | SGH Ltd. | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;296377 |
|  | Sonic Healthcare Ltd. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;19926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349837 |
|  | South32 Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;195201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;372262 |
|  | Steadfast Group Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;45592 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179571 |
|  | Stockland | &nbsp;&nbsp;Diversified REITs | &nbsp;&nbsp;101680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;357169 |
|  | Suncorp Group Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;47109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;667163 |
|  | Technology One Ltd. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;12792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343797 |
| <sup>a</sup> | Telix Pharmaceuticals Ltd. | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;11726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187659 |
|  | Telstra Group Ltd. | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;175439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;556474 |
|  | TPG Telecom Ltd. | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;17302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60436 |
|  | Transurban Group | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;134849 | &nbsp;&nbsp;&nbsp;&nbsp;1235459 |
|  | Treasury Wine Estates Ltd. | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;34522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176693 |
|  | Vicinity Ltd. | &nbsp;&nbsp;Retail REITs | &nbsp;&nbsp;166870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270115 |
|  | Washington H Soul Pattinson & Co. Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;10250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;282195 |
|  | Wesfarmers Ltd. | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;49118 | &nbsp;&nbsp;&nbsp;&nbsp;2728059 |
|  | Westpac Banking Corp. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;148830 | &nbsp;&nbsp;&nbsp;&nbsp;3302561 |
|  | Whitehaven Coal Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;32718 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116429 |
|  | WiseTech Global Ltd. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8077 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;577124 |
|  | Woodside Energy Group Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;82410 | &nbsp;&nbsp;&nbsp;&nbsp;1276195 |
|  | Woolworths Group Ltd. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;52931 | &nbsp;&nbsp;&nbsp;&nbsp;1079154 |
|  | Worley Ltd. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;21566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184863 |
|  | Yancoal Australia Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;14473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54728 |
|  |  |  |  | &nbsp;&nbsp;61561664 |
|  | **Ireland 1.1%** |  |  |  |
| <sup>a</sup> | James Hardie Industries PLC, CDI | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;24436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;667789 |
|  | **New Zealand 1.5%** |  |  |  |
|  | a2 Milk Co. Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;30258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158835 |
| <sup>a</sup> | Xero Ltd. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;787471 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;946306 |
|  | **United States 0.2%** |  |  |  |
|  | GQG Partners, Inc., CDI | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;33661 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49855 |
|  | Sims Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69245 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119100 |
|  | **Total Common Stocks (Cost $60,536,390)** |  |  | &nbsp;&nbsp;63294859 |
|  | **Total Investments before Short-Term Investments (Cost $60,536,390)** |  |  | &nbsp;&nbsp;63294859 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Short-Term Investments 0.0%<sup>†</sup>** |  |  |
|  | **Money Market Funds 0.0%<sup>†</sup>** |  |  |
|  | **United States 0.0%<sup>†</sup>** |  |  |
| <sup>b,c</sup> | Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 322 |
|  | **Total Short-Term Investments (Cost $322)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322 |
|  | **Total Investments (Cost $60,536,712) 99.9%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63295181 |
|  | **Other Assets, less Liabilities 0.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87183 |
|  | **Net Assets 100.0%** |  | &nbsp;&nbsp;$63382364 |

---

---

| |
|:---|
| <sup>†</sup>Rounds to less than 0.1% of net assets. |
| <sup>a</sup>Non-income producing. |
| <sup>b</sup>The rate shown is the annualized seven-day effective yield at period end. |
| <sup>c</sup>See Note 3 regarding investments in affiliated management investment companies. |

---

At June 30, 2025, the Fund had the following futures contracts outstanding.

#### Futures Contracts

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Type** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Notional<br> Amount\*** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value/Unrealized<br> Appreciation<br> (Depreciation)** |
| **Index Contracts** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;SPI 200 Index | &nbsp;&nbsp;Long | &nbsp;&nbsp;1 | &nbsp;&nbsp;$139868 | &nbsp;&nbsp;9/18/25 | &nbsp;&nbsp;$719 |

---

\*As of period end.

#### Abbreviations

---

| | |
|:---|:---|
| **Selected Portfolio** |  |
| **CDI** | Clearing House Electronic Subregister System Depositary Interest |
| **REIT** | Real Estate Investment Trust |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Franklin FTSE Brazil ETF** | &nbsp;&nbsp;**Industry** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
|  | **Common Stocks 70.4%** |  |  |  |
|  | **Brazil 70.4%** |  |  |  |
|  | Allos SA | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp; 190400 | &nbsp;&nbsp;$792599 |
|  | Alupar Investimento SA, UNIT | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp; 166600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 944744 |
|  | Ambev SA | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;2451400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5982694 |
| <sup>a</sup> | Ambipar Participacoes e Empreendimentos SA | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp; 48300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1451341 |
|  | Auren Energia SA | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp; 178500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 332612 |
|  | B3 SA - Brasil Bolsa Balcao | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;2927400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7820203 |
|  | Banco Bradesco SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;821100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2182940 |
|  | Banco BTG Pactual SA | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;654500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5066578 |
|  | Banco do Brasil SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;963900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3901271 |
|  | Banco Santander Brasil SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;226100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1229955 |
|  | BB Seguridade Participacoes SA | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;368900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2419748 |
| <sup>a</sup> | Brava Energia | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;226100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720822 |
|  | BRF SA | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;416500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1536926 |
|  | Caixa Seguridade Participacoes SA | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;333200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;896820 |
|  | Centrais Eletricas Brasileiras SA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;654500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4823143 |
|  | Cia de Saneamento Basico do Estado de Sao Paulo SABESP | &nbsp;&nbsp;Water Utilities | &nbsp;&nbsp;&nbsp;&nbsp;256400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5596514 |
|  | Cia Energetica de Minas Gerais | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99947 |
|  | Cia Paranaense de Energia - Copel | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;452200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;966068 |
|  | Cia Siderurgica Nacional SA | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;345100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470431 |
| <sup>a</sup> | Cosan SA | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;666400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;837602 |
|  | CPFL Energia SA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;107100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;801800 |
|  | CSN Mineracao SA | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;238000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216290 |
|  | Embraer SA | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;389700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5498648 |
|  | Energisa SA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;166600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1474960 |
| <sup>a</sup> | Eneva SA | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;523600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1309516 |
|  | Engie Brasil Energia SA | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;142800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1188114 |
|  | Equatorial Energia SA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;571200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3763451 |
| <sup>b</sup> | GPS Participacoes e Empreendimentos SA | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;226100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;654954 |
|  | Grupo Mateus SA | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;285600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;427522 |
| <sup>a,b</sup> | Hapvida Participacoes e Investimentos SA | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;178500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1205188 |
|  | Hypera SA | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;166600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;829970 |
|  | Itau Unibanco Holding SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;273700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1654381 |
|  | Klabin SA | &nbsp;&nbsp;Containers & Packaging | &nbsp;&nbsp;&nbsp;&nbsp;511700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1729777 |
|  | Localiza Rent a Car SA | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;487900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3622252 |
|  | Lojas Renner SA | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;595000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2145460 |
|  | M Dias Branco SA | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261642 |
|  | Marfrig Global Foods SA | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;142800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;599159 |
|  | Motiva Infraestrutura de Mobilidade SA | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;666400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1683750 |
|  | Multiplan Empreendimentos Imobiliarios SA | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;178500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;889908 |
| <sup>a</sup> | Natura & Co. Holding SA | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;499800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1011898 |
|  | Neoenergia SA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;107100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501567 |
|  | Petroleo Brasileiro SA - Petrobras | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;2082500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13007398 |
|  | Porto Seguro SA | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;107100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1083196 |
| <sup>a</sup> | PRIO SA | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;440300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3420526 |
|  | Raia Drogasil SA | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;725900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2010977 |
| <sup>b</sup> | Rede D'Or Sao Luiz SA | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;559300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3629709 |
|  | Rumo SA | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;678300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2302903 |
|  | Santos Brasil Participacoes SA | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;368900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;934780 |
|  | Sao Martinho SA | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268161 |
|  | Sendas Distribuidora SA | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;761600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1571244 |
|  | SLC Agricola SA | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311702 |
|  | Smartfit Escola de Ginastica e Danca SA | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;190400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;866557 |
|  | Suzano SA | &nbsp;&nbsp;Paper & Forest Products | &nbsp;&nbsp;&nbsp;&nbsp;380800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3572976 |
|  | Telefonica Brasil SA | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;433500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2453496 |
|  | TIM SA | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;452200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1826912 |
|  | TOTVS SA | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;297500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2300810 |
|  | Transmissora Alianca de Energia Eletrica SA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;533116 |
|  | Ultrapar Participacoes SA | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;404600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1300271 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| <sup>a</sup> | Usinas Siderurgicas de Minas Gerais SA Usiminas | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 47600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36107 |
|  | Vale SA | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;2011700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19406177 |
|  | Vibra Energia SA | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp; 630700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2502993 |
|  | WEG SA | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp; 833000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6529263 |
|  | **Total Common Stocks (Cost $133,442,052)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149412439 |
|  | **Preferred Stocks 27.5%** |  |  |  |
|  | **Brazil 27.5%** |  |  |  |
| <sup>c</sup> | Banco Bradesco SA, 4.783%, pfd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;2891700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8916938 |
| <sup>c</sup> | Bradespar SA, 11.86%, pfd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 130900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 376546 |
| <sup>a</sup> | Braskem SA, pfd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;107100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177982 |
| <sup>c</sup> | Centrais Eletricas Brasileiras SA, 4.355%, pfd. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;119000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;968292 |
| <sup>c</sup> | Cia Energetica de Minas Gerais, 16.667%, pfd. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;904400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1789628 |
| <sup>c</sup> | Cia Paranaense de Energia - Copel, Class B, 6.188%, pfd. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;583100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1331188 |
| <sup>c</sup> | Gerdau SA, 4%, pfd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;737800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2162903 |
| <sup>c</sup> | Isa Energia Brasil SA, 8.658%, pfd. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;154700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;657025 |
| <sup>c</sup> | Itau Unibanco Holding SA, 6.217%, pfd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;2975000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20140944 |
| <sup>c</sup> | Itausa SA, 7.489%, pfd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;3177300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6374568 |
| <sup>c</sup> | Metalurgica Gerdau SA, 3.807%, pfd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;345100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;564644 |
| <sup>c</sup> | Petroleo Brasileiro SA - Petrobras, 10.108%, pfd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;2546600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14641719 |
| <sup>a</sup> | Usinas Siderurgicas de Minas Gerais SA Usiminas, pfd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;238000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179660 |
|  | **Total Preferred Stocks (Cost $48,390,683)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58282037 |
|  | **Total Investments before Short-Term Investments (Cost $181,832,735)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207694476 |
|  | **Short-Term Investments 0.0%<sup>†</sup>** |  |  |  |
|  | **Money Market Funds 0.0%<sup>†</sup>** |  |  |  |
|  | **United States 0.0%<sup>†</sup>** |  |  |  |
| <sup>d,e</sup> | Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60651 |
|  | **Total Short-Term Investments (Cost $60,651)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60651 |
|  | **Total Investments (Cost $181,893,386) 97.9%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207755127 |
|  | **Other Assets, less Liabilities 2.1%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4422377 |
|  | **Net Assets 100.0%** |  |  | &nbsp;&nbsp;$212177504 |

---

---

| |
|:---|
| <sup>†</sup>Rounds to less than 0.1% of net assets. |
| <sup>a</sup>Non-income producing. |
| <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional buyers or in a public offering registered under the Securities Act of 1933. At June 30, 2025, the aggregate value of these securities was $5,489,851, representing 2.6% of net assets. |
| <sup>c</sup>Variable rate security. The rate shown represents the yield at period end. |
| <sup>d</sup>The rate shown is the annualized seven-day effective yield at period end. |
| <sup>e</sup>See Note 3 regarding investments in affiliated management investment companies. |

---

At June 30, 2025, the Fund had the following futures contracts outstanding.

#### Futures Contracts

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Type** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Notional<br> Amount\*** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value/Unrealized<br> Appreciation<br> (Depreciation)** |
| **Equity Contracts** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Bovespa Index | &nbsp;&nbsp;Long | &nbsp;&nbsp;190 | &nbsp;&nbsp;$4915593 | &nbsp;&nbsp;8/13/25 | &nbsp;&nbsp;$(40939) |

---

\*As of period end.

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Franklin FTSE Canada ETF** | &nbsp;&nbsp;**Industry** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
|  | **Common Stocks 99.5%** |  |  |  |
|  | **Canada 97.2%** |  |  |  |
|  | Agnico Eagle Mines Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 103110 | &nbsp;&nbsp;$12259851 |
|  | Alimentation Couche-Tard, Inc. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp; 159600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7917423 |
|  | Bank of Montreal | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 150990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16699085 |
|  | Bank of Nova Scotia | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 257880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14231121 |
|  | Barrick Mining Corp. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 354900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7373701 |
|  | BCE, Inc. | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp; 8853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 195940 |
|  | Brookfield Asset Management Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4361462 |
|  | Brookfield Corp. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;291690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18016587 |
|  | Cameco Corp. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6645897 |
|  | Canadian Imperial Bank of Commerce, Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;194250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13760502 |
|  | Canadian National Railway Co. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;115290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11988639 |
|  | Canadian Natural Resources Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;428190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13430951 |
|  | Canadian Pacific Kansas City Ltd. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;193200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15317241 |
|  | Cenovus Energy, Inc. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;261870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3556212 |
|  | CGI, Inc., Class A | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4401920 |
|  | Constellation Software, Inc. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14974111 |
|  | Dollarama, Inc. | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7795729 |
|  | Enbridge, Inc. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;450870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20403974 |
|  | Fairfax Financial Holdings Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7845064 |
|  | Fortis, Inc. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;103320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4923317 |
|  | Franco-Nevada Corp. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6468702 |
|  | George Weston Ltd. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2185681 |
|  | Great-West Lifeco, Inc. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2144095 |
| <sup>a</sup> | Hydro One Ltd. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2363775 |
|  | Imperial Oil Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2547324 |
|  | Intact Financial Corp. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8528316 |
|  | Loblaw Cos. Ltd. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4818650 |
|  | Magna International, Inc. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2122574 |
|  | Manulife Financial Corp. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;357840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11418361 |
|  | Metro, Inc., Class A | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3210276 |
|  | National Bank of Canada | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8347784 |
|  | Nutrien Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;102480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5959537 |
|  | Pembina Pipeline Corp. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;120120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4501089 |
|  | Power Corp. of Canada | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;111510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4346806 |
|  | Restaurant Brands International, Inc. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4420841 |
|  | Royal Bank of Canada | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;292950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38531137 |
| <sup>b</sup> | Shopify, Inc., Class A | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;249690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28740426 |
|  | Sun Life Financial, Inc. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;119280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7920821 |
|  | Suncor Energy, Inc. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;257670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9632647 |
|  | TC Energy Corp. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;214620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10456532 |
|  | Teck Resources Ltd., Class B | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;102690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4144477 |
|  | TELUS Corp. | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;102690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1645900 |
|  | Thomson Reuters Corp. | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5689530 |
|  | Toronto-Dominion Bank | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;365400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26821886 |
|  | Tourmaline Oil Corp. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3538989 |
|  | Wheaton Precious Metals Corp. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8405719 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425010602 |
|  | **United States 2.3%** |  |  |  |
|  | Waste Connections, Inc. | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9865730 |
|  | **Total Common Stocks (Cost $344,894,205)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;434876332 |
|  | **Warrant 0.0%** |  |  |  |
|  | **Canada 0.0%** |  |  |  |
| <sup>b,c</sup> | Constellation Software, Inc. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | **Total Warrants (Cost $0)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | **Total Investments before Short-Term Investments (Cost $344,894,205)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;434876332 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Short-Term Investments 0.3%** |  |  |  |
|  | **Time Deposits 0.3%** |  |  |  |
|  | **Canada 0.3%** |  |  |  |
|  | Royal Bank of Canada, 2.60%, 7/02/2025 | &nbsp;&nbsp;Banks | &nbsp;&nbsp;1822000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1335288 |
|  | **Money Market Funds 0.0%<sup>†</sup>** |  |  |  |
|  | **United States 0.0%<sup>†</sup>** |  |  |  |
| <sup>d,e</sup> | Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp; 182346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 182346 |
|  | **Total Short-Term Investments (Cost $1,517,634)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1517634 |
|  | **Total Investments (Cost $346,411,839) 99.8%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;436393966 |
|  | **Other Assets, less Liabilities 0.2%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;829230 |
|  | **Net Assets 100.0%** |  |  | &nbsp;&nbsp;$437223196 |

---

---

| |
|:---|
| <sup>†</sup>Rounds to less than 0.1% of net assets. |
| <sup>a</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional buyers or in a public offering registered under the Securities Act of 1933. At June 30, 2025, the value of this security was $2,363,775, representing 0.5% of net assets. |
| <sup>b</sup>Non-income producing. |
| <sup>c</sup>Fair valued using significant unobservable inputs. See Note 5 regarding fair value measurements. |
| <sup>d</sup>The rate shown is the annualized seven-day effective yield at period end. |
| <sup>e</sup>See Note 3 regarding investments in affiliated management investment companies. |

---

At June 30, 2025, the Fund had the following futures contracts outstanding.

#### Futures Contracts

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Type** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Notional<br> Amount\*** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value/Unrealized<br> Appreciation<br> (Depreciation)** |
| **Index Contracts** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;S&P/TSX 60 Index | &nbsp;&nbsp;Long | &nbsp;&nbsp;9 | &nbsp;&nbsp;$2110663 | &nbsp;&nbsp;9/18/25 | &nbsp;&nbsp;$23413 |

---

\*As of period end.

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Franklin FTSE China ETF** | &nbsp;&nbsp;**Industry** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
|  | **Common Stocks 99.2%** |  |  |  |
|  | **China 96.4%** |  |  |  |
|  | 360 Security Technology, Inc., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp; 36800 | &nbsp;&nbsp;$52402 |
|  | 37 Interactive Entertainment Network Technology Group Co. Ltd., Class A | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp; 9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22206 |
| <sup>a</sup> | 3SBio, Inc., Class A | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp; 115000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 346465 |
|  | Accelink Technologies Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp; 4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31672 |
| <sup>b</sup> | Addsino Co. Ltd., Class A | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp; 9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10789 |
| <sup>b</sup> | Advanced Micro-Fabrication Equipment, Inc. China, Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 2841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 72303 |
|  | AECC Aero-Engine Control Co. Ltd., Class A | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26650 |
|  | AECC Aviation Power Co. Ltd., Class A | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74248 |
|  | Agricultural Bank of China Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;437000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358719 |
|  | Agricultural Bank of China Ltd., Class H | &nbsp;&nbsp;Banks | &nbsp;&nbsp;2162000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1542318 |
|  | Aier Eye Hospital Group Co. Ltd., Class A | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88304 |
|  | AIMA Technology Group Co. Ltd., Class A | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22091 |
| <sup>b</sup> | Air China Ltd., Class A | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70935 |
| <sup>b</sup> | Air China Ltd., Class H | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69850 |
| <sup>a,b</sup> | Akeso, Inc. | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;562242 |
|  | Alibaba Group Holding Ltd., Class A | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;1265000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17693885 |
|  | All Winner Technology Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32303 |
|  | Aluminum Corp. of China Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67814 |
|  | Aluminum Corp. of China Ltd., Class H | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;276000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185641 |
| <sup>b</sup> | Amlogic Shanghai Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21274 |
| <sup>b</sup> | Angang Steel Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11919 |
| <sup>b</sup> | Angang Steel Co. Ltd., Class H | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19338 |
|  | Angel Yeast Co. Ltd., Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22585 |
| <sup>a</sup> | Angelalign Technology, Inc. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17289 |
|  | Anhui Anke Biotechnology Group Co. Ltd., Class A | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10750 |
|  | Anhui Conch Cement Co. Ltd., Class A | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68938 |
|  | Anhui Conch Cement Co. Ltd., Class H | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233926 |
|  | Anhui Expressway Co. Ltd., Class H | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44943 |
|  | Anhui Gujing Distillery Co. Ltd., Class A | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33459 |
|  | Anhui Gujing Distillery Co. Ltd., Class B | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123057 |
|  | Anhui Jianghuai Automobile Group Corp. Ltd., Class A | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77234 |
|  | Anhui Zhongding Sealing Parts Co. Ltd., Class A | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22592 |
|  | Anker Innovations Technology Co. Ltd., Class A | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72951 |
|  | ANTA Sports Products Ltd., Class A | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1056955 |
|  | Apeloa Pharmaceutical Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17981 |
|  | APT Medical, Inc., Class A | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30060 |
| <sup>b</sup> | ASR Microelectronics Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26234 |
|  | Autohome, Inc., ADR | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115075 |
|  | Avary Holding Shenzhen Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61707 |
|  | AviChina Industry & Technology Co. Ltd., Class H | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;184000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103837 |
|  | Avicopter PLC, Class A | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24923 |
| <sup>b</sup> | BAIC BluePark New Energy Technology Co. Ltd., Class A | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37863 |
| <sup>a,b</sup> | BAIC Motor Corp. Ltd., Class H | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;184000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45473 |
| <sup>b</sup> | Baidu, Inc., Class A | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;154100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1638171 |
|  | Bank of Beijing Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;105800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100879 |
|  | Bank of Changsha Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31916 |
|  | Bank of Chengdu Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64539 |
|  | Bank of China Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;225400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176842 |
|  | Bank of China Ltd., Class H | &nbsp;&nbsp;Banks | &nbsp;&nbsp;5152000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2992754 |
|  | Bank of Communications Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;197800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220908 |
|  | Bank of Communications Co. Ltd., Class H | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;506000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470548 |
|  | Bank of Guiyang Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20036 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Bank of Hangzhou Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 32200 | &nbsp;&nbsp; 75610 |
|  | Bank of Jiangsu Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 92000 | &nbsp;&nbsp; 153352 |
|  | Bank of Nanjing Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 55200 | &nbsp;&nbsp; 89545 |
|  | Bank of Ningbo Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 32200 | &nbsp;&nbsp; 122989 |
|  | Bank of Qingdao Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 27600 | &nbsp;&nbsp; 19188 |
|  | Bank of Shanghai Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 73600 | &nbsp;&nbsp; 109016 |
| <sup>b</sup> | Bank of Zhengzhou Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 36800 | &nbsp;&nbsp; 10583 |
|  | Baoshan Iron & Steel Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 110400 | &nbsp;&nbsp; 101566 |
|  | BBMG Corp., Class A | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp; 55200 | &nbsp;&nbsp; 11713 |
|  | BBMG Corp., Class H | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;184000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17345 |
|  | Beijing Capital Eco-Environment Protection Group Co. Ltd., Class A | &nbsp;&nbsp;Water Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19394 |
| <sup>b</sup> | Beijing Capital International Airport Co. Ltd., Class H | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34690 |
| <sup>b</sup> | Beijing Compass Technology Development Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51798 |
|  | Beijing Dabeinong Technology Group Co. Ltd., Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12972 |
|  | Beijing Easpring Material Technology Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28172 |
| <sup>b</sup> | Beijing E-Hualu Information Technology Co. Ltd., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13974 |
|  | Beijing Enlight Media Co. Ltd., Class A | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52068 |
|  | Beijing Enterprises Holdings Ltd., Class H | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137841 |
| <sup>b</sup> | Beijing Jetsen Technology Co. Ltd., Class A | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10615 |
|  | Beijing Jingneng Clean Energy Co. Ltd., Class H | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27659 |
| <sup>b</sup> | Beijing Kingsoft Office Software, Inc., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87145 |
|  | Beijing New Building Materials PLC, Class A | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34010 |
|  | Beijing Originwater Technology Co. Ltd., Class A | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14449 |
|  | Beijing Roborock Technology Co. Ltd., Class A | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28761 |
|  | Beijing Shiji Information Technology Co. Ltd., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16684 |
|  | Beijing Shougang Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10917 |
|  | Beijing Shunxin Agriculture Co. Ltd., Class A | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9986 |
|  | Beijing Sinnet Technology Co. Ltd., Class A | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18366 |
|  | Beijing Tiantan Biological Products Corp. Ltd., Class A | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24647 |
|  | Beijing Tong Ren Tang Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46314 |
| <sup>b</sup> | Beijing Ultrapower Software Co. Ltd., Class A | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22733 |
|  | Beijing United Information Technology Co. Ltd., Class A | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15289 |
| <sup>b</sup> | Beijing Wantai Biological Pharmacy Enterprise Co. Ltd., Class A | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39352 |
|  | Beijing Yanjing Brewery Co. Ltd., Class A | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33213 |
|  | Beijing Zhong Ke San Huan High-Tech Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7558 |
| <sup>b</sup> | Beijing-Shanghai High Speed Railway Co. Ltd., Class A | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;220800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177240 |
| <sup>b</sup> | BeOne Medicines Ltd. | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1125916 |
|  | Bestechnic Shanghai Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24290 |
|  | Bethel Automotive Safety Systems Co. Ltd., Class A | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34130 |
| <sup>b</sup> | Bilibili, Inc., Class Z | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;452042 |
| <sup>a</sup> | Blue Moon Group Holdings Ltd. | &nbsp;&nbsp;Household Products | &nbsp;&nbsp;&nbsp;&nbsp;115000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60210 |
|  | Bluefocus Intelligent Communications Group Co. Ltd., Class A | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17657 |
|  | BOC International China Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20595 |
|  | BOE Technology Group Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;202400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112740 |
|  | BOE Technology Group Co. Ltd., Class B | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18353 |
| <sup>b</sup> | Bright Dairy & Food Co. Ltd., Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10801 |
|  | Brilliance China Automotive Holdings Ltd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;184000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74538 |
|  | BTG Hotels Group Co. Ltd., Class A | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9074 |
|  | BYD Co. Ltd., Class A | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;426289 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | BYD Co. Ltd., Class H | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp; 260318 | &nbsp;&nbsp; 4062287 |
|  | BYD Electronic International Co. Ltd. | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp; 53500 | &nbsp;&nbsp; 216726 |
|  | By-health Co. Ltd., Class A | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp; 9200 | &nbsp;&nbsp; 14436 |
|  | C&D International Investment Group Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp; 46000 | &nbsp;&nbsp; 93055 |
| <sup>b</sup> | C&S Paper Co. Ltd., Class A | &nbsp;&nbsp;Household Products | &nbsp;&nbsp; 9200 | &nbsp;&nbsp; 8631 |
|  | Caida Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp; 18400 | &nbsp;&nbsp; 17519 |
|  | Caitong Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp; 27600 | &nbsp;&nbsp; 30478 |
| <sup>b</sup> | Cambricon Technologies Corp. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 2092 | &nbsp;&nbsp; 175668 |
|  | Canmax Technologies Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 4600 | &nbsp;&nbsp; 12246 |
| <sup>a,b</sup> | CanSino Biologics, Inc., Class H | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28964 |
| <sup>b</sup> | CCOOP Group Co. Ltd., Class A | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;101200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32777 |
|  | CECEP Solar Energy Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14096 |
|  | CECEP Wind-Power Corp., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16703 |
|  | Central China Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10686 |
|  | CETC Cyberspace Security Technology Co. Ltd., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11745 |
|  | CGN Power Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46750 |
| <sup>a</sup> | CGN Power Co. Ltd., Class H | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;736000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250334 |
| <sup>b</sup> | Changchun High-Tech Industry Group Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30461 |
|  | Changjiang Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31152 |
|  | Changzhou Xingyu Automotive Lighting Systems Co. Ltd., Class A | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24431 |
|  | Chaozhou Three-Circle Group Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42897 |
|  | Chengdu Kanghong Pharmaceutical Group Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18604 |
|  | Chengdu Xingrong Environment Co. Ltd., Class A | &nbsp;&nbsp;Water Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18520 |
| <sup>b</sup> | Chengxin Lithium Group Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8271 |
|  | Chifeng Jilong Gold Mining Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31955 |
|  | China Baoan Group Co. Ltd., Class A | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17108 |
| <sup>a,b</sup> | China Bohai Bank Co. Ltd., Class H | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;230000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26076 |
| <sup>b</sup> | China Cinda Asset Management Co. Ltd., Class H | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;644000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109931 |
|  | China CITIC Bank Corp. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81877 |
|  | China CITIC Bank Corp. Ltd., Class H | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;644000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;613646 |
| <sup>a,b</sup> | China CITIC Financial Asset Management Co. Ltd., Class H | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;1380000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225019 |
|  | China Coal Energy Co. Ltd., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42152 |
|  | China Coal Energy Co. Ltd., Class H | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;138000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159623 |
|  | China Communications Services Corp. Ltd., Class H | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;184000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99618 |
|  | China Conch Venture Holdings Ltd. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106181 |
|  | China Construction Bank Corp., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66684 |
|  | China Construction Bank Corp., Class H | &nbsp;&nbsp;Banks | &nbsp;&nbsp;6808000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6868708 |
|  | China CSSC Holdings Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104482 |
| <sup>b</sup> | China Eastern Airlines Corp. Ltd., Class A | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51759 |
| <sup>b</sup> | China Eastern Airlines Corp. Ltd., Class H | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37034 |
|  | China Energy Engineering Corp. Ltd., Class A | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;179400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55850 |
|  | China Energy Engineering Corp. Ltd., Class H | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;276000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36917 |
|  | China Everbright Bank Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;234600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135916 |
|  | China Everbright Bank Co. Ltd., Class H | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;230000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114853 |
| <sup>a</sup> | China Feihe Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;276000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200759 |
|  | China Galaxy Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88106 |
|  | China Galaxy Securities Co. Ltd., Class H | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;253000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284585 |
|  | China Great Wall Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21526 |
| <sup>b</sup> | China Greatwall Technology Group Co. Ltd., Class A | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38017 |
|  | China Green Electricity Investment of Tianjin Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10737 |
|  | China Hongqiao Group Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;184000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;421442 |
|  | China International Capital Corp. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68122 |
| <sup>a</sup> | China International Capital Corp. Ltd., Class H | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;110400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248927 |
|  | China International Marine Containers Group Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15143 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

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| | | | | |
|:---|:---|:---|:---|:---|
|  | China International Marine Containers Group Co. Ltd., Class H | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 50600 | &nbsp;&nbsp; 39964 |
|  | China Jinmao Holdings Group Ltd., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp; 460000 | &nbsp;&nbsp; 69732 |
|  | China Jushi Co. Ltd., Class A | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp; 23087 | &nbsp;&nbsp; 36742 |
|  | China Lesso Group Holdings Ltd. | &nbsp;&nbsp;Building Products | &nbsp;&nbsp; 92000 | &nbsp;&nbsp; 49106 |
|  | China Life Insurance Co. Ltd., Class H | &nbsp;&nbsp;Insurance | &nbsp;&nbsp; 529000 | &nbsp;&nbsp; 1269600 |
| <sup>a,b</sup> | China Literature Ltd., Class A | &nbsp;&nbsp;Media | &nbsp;&nbsp; 27600 | &nbsp;&nbsp; 104950 |
|  | China Longyuan Power Group Corp. Ltd., Class H | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp; 230000 | &nbsp;&nbsp; 207146 |
|  | China Medical System Holdings Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp; 92000 | &nbsp;&nbsp; 140637 |
|  | China Meheco Group Co. Ltd., Class A | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp; 9200 | &nbsp;&nbsp; 13280 |
|  | China Merchants Bank Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;101200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;649175 |
|  | China Merchants Bank Co. Ltd., Class H | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;267000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1865599 |
|  | China Merchants Energy Shipping Co. Ltd., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40200 |
|  | China Merchants Expressway Network & Technology Holdings Co. Ltd., Class A | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61649 |
|  | China Merchants Port Holdings Co. Ltd. | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167592 |
|  | China Merchants Property Operation & Service Co. Ltd., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7944 |
|  | China Merchants Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90367 |
| <sup>a</sup> | China Merchants Securities Co. Ltd., Class H | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66474 |
|  | China Merchants Shekou Industrial Zone Holdings Co. Ltd., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56319 |
|  | China Minsheng Banking Corp. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;179400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118963 |
|  | China Minsheng Banking Corp. Ltd., Class H | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;460000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260764 |
|  | China National Accord Medicines Corp. Ltd., Class B | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7489 |
|  | China National Building Material Co. Ltd., Class H | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;230000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109873 |
|  | China National Chemical Engineering Co. Ltd., Class A | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39404 |
|  | China National Nuclear Power Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;101200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131672 |
| <sup>b</sup> | China National Software & Service Co. Ltd., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30035 |
|  | China Northern Rare Earth Group High-Tech Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63961 |
|  | China Oilfield Services Ltd., Class A | &nbsp;&nbsp;Energy Equipment & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17673 |
|  | China Oilfield Services Ltd., Class H | &nbsp;&nbsp;Energy Equipment & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75475 |
|  | China Overseas Land & Investment Ltd., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;253000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438963 |
|  | China Pacific Insurance Group Co. Ltd., Class A | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192704 |
|  | China Pacific Insurance Group Co. Ltd., Class H | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;184000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629350 |
|  | China Petroleum & Chemical Corp., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;161000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126765 |
|  | China Petroleum & Chemical Corp., Class H | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;1656000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;867027 |
|  | China Railway Group Ltd., Class A | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;105800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82860 |
|  | China Railway Group Ltd., Class H | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;276000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132199 |
|  | China Railway Signal & Communication Corp. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28585 |
| <sup>a</sup> | China Railway Signal & Communication Corp. Ltd., Class H | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;138000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56782 |
| <sup>b</sup> | China Rare Earth Resources & Technology Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46391 |
|  | China Reinsurance Group Corp., Class H | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;506000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78639 |
|  | China Resources Building Materials Technology Holdings Ltd. | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;184000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39378 |
|  | China Resources Double Crane Pharmaceutical Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23966 |
|  | China Resources Microelectronics Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40035 |
| <sup>a</sup> | China Resources Mixc Lifestyle Services Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222382 |
| <sup>a</sup> | China Resources Pharmaceutical Group Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;138000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90008 |
|  | China Resources Power Holdings Co. Ltd. | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337783 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | China Resources Sanjiu Medical & Pharmaceutical Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp; 11905 | &nbsp;&nbsp; 51987 |
| <sup>b</sup> | China Ruyi Holdings Ltd. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp; 736000 | &nbsp;&nbsp; 237208 |
|  | China Shenhua Energy Co. Ltd., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 32200 | &nbsp;&nbsp; 182237 |
|  | China Shenhua Energy Co. Ltd., Class H | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 244248 | &nbsp;&nbsp; 947433 |
|  | China South Publishing & Media Group Co. Ltd., Class A | &nbsp;&nbsp;Media | &nbsp;&nbsp; 9200 | &nbsp;&nbsp; 16851 |
| <sup>b</sup> | China Southern Airlines Co. Ltd., Class A | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp; 69000 | &nbsp;&nbsp; 56833 |
| <sup>b</sup> | China Southern Airlines Co. Ltd., Class H | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp; 92000 | &nbsp;&nbsp; 47113 |
|  | China Southern Power Grid Energy Efficiency&Clean Energy Co. Ltd., Class A | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp; 18400 | &nbsp;&nbsp; 11790 |
| <sup>b</sup> | China State Construction Engineering Corp. Ltd., Class A | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp; 207000 | &nbsp;&nbsp; 166741 |
| <sup>b</sup> | China Suntien Green Energy Corp. Ltd., Class H | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;138000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77526 |
|  | China Taiping Insurance Holdings Co. Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;101200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197243 |
|  | China Three Gorges Renewables Group Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;142600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84806 |
|  | China Tourism Group Duty Free Corp. Ltd., Class A | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89372 |
| <sup>a</sup> | China Tourism Group Duty Free Corp. Ltd., Class H | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61060 |
| <sup>a</sup> | China Tower Corp. Ltd., Class H | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;322000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460234 |
| <sup>b</sup> | China TransInfo Technology Co. Ltd., Class A | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11944 |
|  | China United Network Communications Ltd., Class A | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;156400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116593 |
| <sup>b</sup> | China Vanke Co. Ltd., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45350 |
| <sup>b</sup> | China Vanke Co. Ltd., Class H | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;151800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94561 |
|  | China World Trade Center Co. Ltd., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13216 |
|  | China XD Electric Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27601 |
|  | China Yangtze Power Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;124200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;522590 |
|  | China Zhenhua Group Science & Technology Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32141 |
|  | China Zheshang Bank Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;110400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52247 |
|  | China Zheshang Bank Co. Ltd., Class H | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;184000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69146 |
|  | Chinalin Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9228 |
|  | Chinese Universe Publishing & Media Group Co. Ltd., Class A | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13190 |
|  | Chongqing Brewery Co. Ltd., Class A | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35384 |
| <sup>b</sup> | Chongqing Changan Automobile Co. Ltd., Class A | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81942 |
| <sup>b</sup> | Chongqing Changan Automobile Co. Ltd., Class B | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;119600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60181 |
|  | Chongqing Fuling Zhacai Group Co. Ltd., Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8213 |
| <sup>b</sup> | Chongqing Qianli Technology Co. Ltd., Class A | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27260 |
|  | Chongqing Rural Commercial Bank Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45851 |
|  | Chongqing Rural Commercial Bank Co. Ltd., Class H | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;138000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116553 |
|  | Chongqing Water Group Co. Ltd., Class A | &nbsp;&nbsp;Water Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8939 |
|  | Chongqing Zhifei Biological Products Co. Ltd., Class A | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37741 |
|  | CITIC Ltd., Class B | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;368000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;505355 |
|  | Citic Pacific Special Steel Group Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22656 |
|  | CITIC Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230580 |
|  | CITIC Securities Co. Ltd., Class H | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;115000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347197 |
|  | CMOC Group Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102735 |
|  | CMOC Group Ltd., Class H | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;276000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280571 |
|  | CMST Development Co. Ltd., Class A | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11289 |
|  | CNGR Advanced Material Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21115 |
|  | CNOOC Energy Technology & Services Ltd., Class A | &nbsp;&nbsp;Energy Equipment & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23581 |
|  | CNPC Capital Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42191 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Contemporary Amperex Technology Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp; 21700 | &nbsp;&nbsp; 764074 |
|  | COSCO SHIPPING Development Co. Ltd., Class A | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp; 73600 | &nbsp;&nbsp; 25379 |
|  | COSCO SHIPPING Development Co. Ltd., Class H | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp; 230000 | &nbsp;&nbsp; 31057 |
|  | COSCO SHIPPING Energy Transportation Co. Ltd., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 18400 | &nbsp;&nbsp; 26535 |
|  | COSCO SHIPPING Energy Transportation Co. Ltd., Class H | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 92000 | &nbsp;&nbsp; 76296 |
|  | COSCO SHIPPING Holdings Co. Ltd., Class A | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp; 64400 | &nbsp;&nbsp; 135216 |
|  | COSCO SHIPPING Holdings Co. Ltd., Class H | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp; 207000 | &nbsp;&nbsp; 359679 |
|  | Country Garden Services Holdings Co. Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp; 138000 | &nbsp;&nbsp; 115322 |
|  | CRRC Corp. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 124200 | &nbsp;&nbsp; 122065 |
|  | CRRC Corp. Ltd., Class H | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;276000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166655 |
|  | CSC Financial Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77222 |
| <sup>a</sup> | CSC Financial Co. Ltd., Class H | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61529 |
|  | CSG Holding Co. Ltd., Class A | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5934 |
|  | CSG Holding Co. Ltd., Class B | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18986 |
|  | CSPC Innovation Pharmaceutical Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33194 |
|  | CSPC Pharmaceutical Group Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;552000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;541452 |
| <sup>b</sup> | Daan Gene Co. Ltd., Class A | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7804 |
|  | Daqin Railway Co. Ltd., Class A | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;101200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93244 |
| <sup>b</sup> | Daqo New Energy Corp., ADR | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44660 |
|  | Datang International Power Generation Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24428 |
|  | Datang International Power Generation Co. Ltd., Class H | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;184000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46879 |
|  | DHC Software Co. Ltd., Class A | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36989 |
| <sup>b</sup> | Do-Fluoride New Materials Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7828 |
|  | Dong-E-E-Jiao Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33586 |
|  | Dongfang Electric Corp. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32250 |
|  | Dongfang Electric Corp. Ltd., Class H | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47113 |
|  | Dongfeng Motor Group Co. Ltd., Class H | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;184000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80866 |
|  | Dongguan Yiheda Automation Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14680 |
|  | Dongxing Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28641 |
| <sup>a,b</sup> | East Buy Holding Ltd. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34749 |
|  | East Money Information Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252510 |
|  | Eastern Air Logistics Co. Ltd., Class A | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16812 |
|  | Eastroc Beverage Group Co. Ltd., Class A | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92508 |
|  | Ecovacs Robotics Co. Ltd., Class A | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37394 |
|  | Empyrean Technology Co. Ltd., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43235 |
|  | ENN Energy Holdings Ltd. | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;404155 |
|  | ENN Natural Gas Co. Ltd., Class A | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48548 |
|  | Eoptolink Technology, Inc. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81569 |
| <sup>b</sup> | Eternal Asia Supply Chain Management Ltd., Class A | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11842 |
|  | Eve Energy Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58836 |
|  | Everbright Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57732 |
| <sup>b</sup> | Everdisplay Optronics Shanghai Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22540 |
|  | Fangda Carbon New Material Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14898 |
|  | FAW Jiefang Group Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13216 |
|  | Fiberhome Telecommunication Technologies Co. Ltd., Class A | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27010 |
| <sup>b</sup> | Financial Street Holdings Co. Ltd., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7244 |
|  | First Capital Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27280 |
|  | Flat Glass Group Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19535 |
|  | Flat Glass Group Co. Ltd., Class H | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28057 |
|  | Focus Media Information Technology Co. Ltd., Class A | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79694 |
|  | Foshan Haitian Flavouring & Food Co. Ltd., Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125332 |
|  | Fosun International Ltd. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;161000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95780 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Founder Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp; 41400 | &nbsp;&nbsp; 45716 |
|  | Foxconn Industrial Internet Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp; 59800 | &nbsp;&nbsp; 178486 |
|  | Fujian Funeng Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp; 18440 | &nbsp;&nbsp; 24816 |
|  | Fujian Sunner Development Co. Ltd., Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp; 9200 | &nbsp;&nbsp; 18353 |
|  | Full Truck Alliance Co. Ltd., ADR | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp; 56396 | &nbsp;&nbsp; 666037 |
|  | Fuyao Glass Industry Group Co. Ltd., Class A | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp; 9200 | &nbsp;&nbsp; 73221 |
| <sup>a</sup> | Fuyao Glass Industry Group Co. Ltd., Class H | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp; 43000 | &nbsp;&nbsp; 307025 |
|  | GalaxyCore, Inc., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 18400 | &nbsp;&nbsp; 39558 |
|  | Gan & Lee Pharmaceuticals Co. Ltd., Class A | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp; 4600 | &nbsp;&nbsp; 35178 |
|  | Ganfeng Lithium Group Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43373 |
| <sup>a</sup> | Ganfeng Lithium Group Co. Ltd., Class H | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80163 |
| <sup>b</sup> | GCL System Integration Technology Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13717 |
| <sup>b</sup> | GCL Technology Holdings Ltd. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;1610000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205096 |
|  | GD Power Development Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62163 |
| <sup>b</sup> | GDS Holdings Ltd., Class A | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207439 |
|  | GEM Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28545 |
| <sup>b</sup> | Gemdale Corp., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14603 |
| <sup>b</sup> | Genscript Biotech Corp. | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173452 |
|  | GF Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75565 |
|  | GF Securities Co. Ltd., Class H | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108126 |
| <sup>a</sup> | Giant Biogene Holding Co. Ltd. | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270492 |
|  | Giant Network Group Co. Ltd., Class A | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45370 |
| <sup>b</sup> | GigaDevice Semiconductor, Inc., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81254 |
|  | Ginlong Technologies Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36854 |
|  | Glarun Technology Co. Ltd., Class A | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40444 |
|  | GoerTek, Inc., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59902 |
|  | Goldwind Science & Technology Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26329 |
|  | Goldwind Science & Technology Co. Ltd., Class H | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52528 |
|  | Goneo Group Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42840 |
| <sup>b</sup> | Gotion High-tech Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41690 |
| <sup>b</sup> | Grandjoy Holdings Group Co. Ltd., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10211 |
| <sup>b</sup> | Great Wall Motor Co. Ltd., Class A | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55176 |
| <sup>b</sup> | Great Wall Motor Co. Ltd., Class H | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;161000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247755 |
|  | Gree Electric Appliances, Inc. of Zhuhai, Class A | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144233 |
| <sup>b</sup> | Greenland Holdings Corp. Ltd., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20935 |
|  | Greentown China Holdings Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83064 |
|  | GRG Banking Equipment Co. Ltd., Class A | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25893 |
|  | Guangdong Baolihua New Energy Stock Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8766 |
|  | Guangdong Electric Power Development Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8746 |
|  | Guangdong Electric Power Development Co. Ltd., Class B | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14521 |
| <sup>b</sup> | Guangdong Golden Dragon Development, Inc., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8432 |
|  | Guangdong Haid Group Co. Ltd., Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75250 |
| <sup>b</sup> | Guangdong HEC Technology Holding Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29874 |
|  | Guangdong Xinbao Electrical Appliances Holdings Co. Ltd., Class A | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9440 |
| <sup>b</sup> | Guanghui Energy Co. Ltd., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30927 |
|  | Guangshen Railway Co. Ltd., Class A | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14847 |
|  | Guangshen Railway Co. Ltd., Class H | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21916 |
|  | Guangxi Guiguan Electric Power Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8053 |
|  | Guangxi Liugong Machinery Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12343 |
|  | Guangzhou Automobile Group Co. Ltd., Class A | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28859 |
|  | Guangzhou Automobile Group Co. Ltd., Class H | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;184000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67271 |
|  | Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd., Class A | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33856 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

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| | | | | |
|:---|:---|:---|:---|:---|
|  | Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd., Class H | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp; 15600 | &nbsp;&nbsp; 34578 |
|  | Guangzhou Haige Communications Group, Inc. Co., Class A | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp; 13800 | &nbsp;&nbsp; 26856 |
|  | Guangzhou Kingmed Diagnostics Group Co. Ltd., Class A | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp; 4600 | &nbsp;&nbsp; 18341 |
|  | Guangzhou Shiyuan Electronic Technology Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp; 4600 | &nbsp;&nbsp; 22219 |
|  | Guangzhou Tinci Materials Technology Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 9200 | &nbsp;&nbsp; 23272 |
| <sup>b</sup> | Guangzhou Yuexiu Capital Holdings Group Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp; 18400 | &nbsp;&nbsp; 17621 |
|  | Guangzhou Zhujiang Brewery Co. Ltd., Class A | &nbsp;&nbsp;Beverages | &nbsp;&nbsp; 9200 | &nbsp;&nbsp; 14500 |
|  | Guolian Minsheng Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp; 27600 | &nbsp;&nbsp; 39879 |
|  | Guosen Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp; 32200 | &nbsp;&nbsp; 51785 |
| <sup>b</sup> | Guosheng Financial Holding, Inc., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28994 |
|  | Guotai Haitong Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69058 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184716 |
| <sup>a</sup> | Guotai Haitong Securities Co. Ltd., Class H | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;202400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;324871 |
|  | Guoyuan Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30401 |
|  | H World Group Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;138000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;466739 |
| <sup>a</sup> | Haidilao International Holding Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;107000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203096 |
|  | Haier Smart Home Co. Ltd., Class A | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111392 |
|  | Haier Smart Home Co. Ltd., Class H | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;165600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;473595 |
| <sup>b</sup> | Hainan Airlines Holding Co. Ltd., Class A | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp;&nbsp;&nbsp;243800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45607 |
| <sup>b</sup> | Hainan Airport Infrastructure Co. Ltd., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29553 |
|  | Haisco Pharmaceutical Group Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27113 |
|  | Haitian International Holdings Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119541 |
|  | Hangzhou Binjiang Real Estate Group Co. Ltd., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25045 |
|  | Hangzhou Chang Chuan Technology Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28840 |
|  | Hangzhou First Applied Material Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25044 |
|  | Hangzhou GreatStar Industrial Co. Ltd., Class A | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32764 |
| <sup>b</sup> | Hangzhou Iron & Steel Co., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23118 |
| <sup>b</sup> | Hangzhou Lion Microelectronics Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14963 |
|  | Hangzhou Oxygen Plant Group Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12471 |
|  | Hangzhou Robam Appliances Co. Ltd., Class A | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12208 |
|  | Hangzhou Silan Microelectronics Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31878 |
|  | Hangzhou Tigermed Consulting Co. Ltd., Class A | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34241 |
| <sup>a</sup> | Hangzhou Tigermed Consulting Co. Ltd., Class H | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44828 |
|  | Han's Laser Technology Industry Group Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31300 |
| <sup>a</sup> | Hansoh Pharmaceutical Group Co. Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305080 |
|  | Haohua Chemical Science & Technology Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17384 |
|  | Harbin Boshi Automation Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9979 |
|  | Hefei Meiya Optoelectronic Technology, Inc., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10834 |
|  | Heilongjiang Agriculture Co. Ltd., Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18520 |
|  | Henan Shenhuo Coal Industry & Electricity Power Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32057 |
|  | Henan Shuanghui Investment & Development Co. Ltd., Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62702 |
|  | Hengan International Group Co. Ltd. | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126826 |
|  | Hengdian Group DMEGC Magnetics Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18174 |
|  | Hengli Petrochemical Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54945 |
|  | Hengtong Optic-electric Co. Ltd., Class A | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29476 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

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| | | | | |
|:---|:---|:---|:---|:---|
|  | Hengyi Petrochemical Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 18400 | &nbsp;&nbsp; 15104 |
|  | Hesteel Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 64400 | &nbsp;&nbsp; 19419 |
|  | Hisense Home Appliances Group Co. Ltd., Class H | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp; 26000 | &nbsp;&nbsp; 70879 |
|  | Hisense Visual Technology Co. Ltd., Class A | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp; 9200 | &nbsp;&nbsp; 29566 |
|  | Hithink RoyalFlush Information Network Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp; 2600 | &nbsp;&nbsp; 99094 |
|  | HLA Group Corp. Ltd., Class A | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp; 32200 | &nbsp;&nbsp; 31287 |
|  | Hongyuan Green Energy Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 4600 | &nbsp;&nbsp; 9536 |
| <sup>b</sup> | Hopson Development Holdings Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp; 73600 | &nbsp;&nbsp; 31128 |
| <sup>b</sup> | Horizon Robotics | &nbsp;&nbsp;Software | &nbsp;&nbsp; 552000 | &nbsp;&nbsp; 456367 |
|  | Hoshine Silicon Industry Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30439 |
| <sup>a,b</sup> | Hua Hong Semiconductor Ltd. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203338 |
|  | Huadian Power International Corp. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31614 |
|  | Huadian Power International Corp. Ltd., Class H | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48754 |
|  | Huadong Medicine Co. Ltd., Class A | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77755 |
|  | Huafon Chemical Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21224 |
|  | Huagong Tech Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30189 |
|  | Huaibei Mining Holdings Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21847 |
|  | Hualan Biological Engineering, Inc., Class A | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20126 |
|  | Huaneng Lancang River Hydropower, Inc., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49062 |
|  | Huaneng Power International, Inc., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45851 |
|  | Huaneng Power International, Inc., Class H | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;276000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177906 |
| <sup>b</sup> | Huapont Life Sciences Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5356 |
|  | Huatai Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91497 |
| <sup>a</sup> | Huatai Securities Co. Ltd., Class H | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186344 |
|  | Huaxi Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17223 |
|  | Huaxia Bank Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91433 |
|  | Huaxin Cement Co. Ltd., Class A | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15207 |
|  | Huaxin Cement Co. Ltd., Class H | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25783 |
|  | Huayu Automotive Systems Co. Ltd., Class A | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45338 |
| <sup>b,c</sup> | Hubei Biocause Pharmaceutical Co. Ltd., Class A | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7057 |
|  | Hubei Energy Group Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26066 |
|  | Hubei Xingfa Chemicals Group Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26368 |
|  | Huizhou Desay Sv Automotive Co. Ltd., Class A | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38496 |
|  | Humanwell Healthcare Group Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26946 |
|  | Hunan Gold Corp. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29504 |
|  | Hunan Valin Steel Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22605 |
|  | Hundsun Technologies, Inc., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43077 |
| <sup>a,b</sup> | Hygeia Healthcare Holdings Co. Ltd., Class C | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53653 |
|  | Hygon Information Technology Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231803 |
| <sup>b</sup> | Hytera Communications Corp. Ltd., Class A | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15810 |
|  | IEIT Systems Co. Ltd., Class A | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65348 |
|  | Iflytek Co. Ltd., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92242 |
|  | Imeik Technology Development Co. Ltd., Class A | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37094 |
|  | Industrial & Commercial Bank of China Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;377200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;399677 |
|  | Industrial & Commercial Bank of China Ltd., Class H | &nbsp;&nbsp;Banks | &nbsp;&nbsp;5658000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4483154 |
|  | Industrial Bank Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;105800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;344733 |
|  | Industrial Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39751 |
|  | Ingenic Semiconductor Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22219 |
|  | Inner Mongolia BaoTou Steel Union Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;234600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58624 |
|  | Inner Mongolia Berun Chemical Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15380 |
|  | Inner Mongolia Dian Tou Energy Corp. Ltd., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38107 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

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| | | | | |
|:---|:---|:---|:---|:---|
|  | Inner Mongolia ERDOS Resources Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 9200 | &nbsp;&nbsp; 11187 |
|  | Inner Mongolia ERDOS Resources Co. Ltd., Class B | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 32200 | &nbsp;&nbsp; 31137 |
|  | Inner Mongolia Junzheng Energy & Chemical Industry Group Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 46000 | &nbsp;&nbsp; 35448 |
|  | Inner Mongolia MengDian HuaNeng Thermal Power Corp. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp; 32200 | &nbsp;&nbsp; 18475 |
|  | Inner Mongolia Yili Industrial Group Co. Ltd., Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp; 32200 | &nbsp;&nbsp; 125327 |
|  | Inner Mongolia Yitai Coal Co. Ltd., Class B | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 59800 | &nbsp;&nbsp; 118464 |
| <sup>a,b</sup> | Innovent Biologics, Inc., Class B | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp; 107000 | &nbsp;&nbsp; 1068637 |
|  | Intco Medical Technology Co. Ltd., Class A | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp; 4600 | &nbsp;&nbsp; 15207 |
| <sup>b</sup> | iQIYI, Inc., ADR | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp; 35650 | &nbsp;&nbsp; 63101 |
| <sup>b</sup> | IRICO Display Devices Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20742 |
|  | Isoftstone Information Technology Group Co. Ltd., Class A | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35088 |
| <sup>b</sup> | JA Solar Technology Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32173 |
|  | Jafron Biomedical Co. Ltd., Class A | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13852 |
| <sup>b</sup> | Jason Furniture Hangzhou Co. Ltd., Class A | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16388 |
|  | JCET Group Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43270 |
| <sup>a,b</sup> | JD Health International, Inc. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415758 |
| <sup>a,b</sup> | JD Logistics, Inc. | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;133400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223296 |
|  | JD.com, Inc., Class A | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;179400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2922963 |
| <sup>b</sup> | Jiangsu Eastern Shenghong Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37445 |
|  | Jiangsu Expressway Co. Ltd., Class A | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19702 |
|  | Jiangsu Expressway Co. Ltd., Class H | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129855 |
|  | Jiangsu Hengli Hydraulic Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66138 |
|  | Jiangsu Hengrui Pharmaceuticals Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233302 |
| <sup>b</sup> | Jiangsu Hoperun Software Co. Ltd., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32642 |
|  | Jiangsu King's Luck Brewery JSC Ltd., Class A | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33696 |
|  | Jiangsu Linyang Energy Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10981 |
|  | Jiangsu Nhwa Pharmaceutical Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13344 |
|  | Jiangsu Phoenix Publishing & Media Corp. Ltd., Class A | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21519 |
|  | Jiangsu Yanghe Distillery Co. Ltd., Class A | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82905 |
|  | Jiangsu Yangnong Chemical Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37246 |
|  | Jiangsu Yoke Technology Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35121 |
|  | Jiangsu Yuyue Medical Equipment & Supply Co. Ltd., Class A | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45723 |
|  | Jiangsu Zhongtian Technology Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37143 |
|  | Jiangxi Copper Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45139 |
|  | Jiangxi Copper Co. Ltd., Class H | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178609 |
| <sup>b</sup> | Jiangxi Special Electric Motor Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9324 |
|  | Jilin Aodong Pharmaceutical Group Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21770 |
|  | Jinduicheng Molybdenum Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28102 |
| <sup>b</sup> | Jinko Solar Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36595 |
| <sup>a,b</sup> | Jinxin Fertility Group Ltd. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;161000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62759 |
|  | Jizhong Energy Resources Co. Ltd., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14770 |
|  | Joincare Pharmaceutical Group Industry Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21250 |
| <sup>a</sup> | Joinn Laboratories China Co. Ltd., Class H | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20392 |
|  | Jointown Pharmaceutical Group Co. Ltd., Class A | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23105 |
| <sup>b</sup> | Jonjee Hi-Tech Industrial & Commercial Holding Co. Ltd., Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12201 |
|  | JOYY, Inc., ADR | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98358 |
|  | Juneyao Airlines Co. Ltd., Class A | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25950 |
| <sup>b</sup> | J-Yuan Trust Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22733 |
|  | Kaishan Group Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6467 |
| <sup>b</sup> | Kangmei Pharmaceutical Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20633 |
| <sup>b</sup> | Kanzhun Ltd., ADR | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;406217 |

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FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

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| | | | | |
|:---|:---|:---|:---|:---|
|  | KE Holdings, Inc., ADR | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp; 46874 | &nbsp;&nbsp; 831545 |
|  | Keda Industrial Group Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 9200 | &nbsp;&nbsp; 12587 |
|  | Kingboard Holdings Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp; 46000 | &nbsp;&nbsp; 147083 |
| <sup>b</sup> | Kingdee International Software Group Co. Ltd. | &nbsp;&nbsp;Software | &nbsp;&nbsp; 208000 | &nbsp;&nbsp; 409111 |
|  | Kingfa Sci & Tech Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 13800 | &nbsp;&nbsp; 19862 |
|  | Kingnet Network Co. Ltd., Class A | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp; 13800 | &nbsp;&nbsp; 37201 |
|  | Kingsoft Corp. Ltd. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp; 55200 | &nbsp;&nbsp; 287603 |
| <sup>a,b</sup> | Kuaishou Technology, Class B | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp; 197800 | &nbsp;&nbsp; 1594999 |
|  | Kuang-Chi Technologies Co. Ltd., Class A | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp; 13800 | &nbsp;&nbsp; 77023 |
| <sup>b</sup> | Kunlun Tech Co. Ltd., Class A | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43193 |
|  | Kweichow Moutai Co. Ltd., Class A | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1210159 |
|  | Lakala Payment Co. Ltd., Class A | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21481 |
|  | Lao Feng Xiang Co. Ltd., Class B | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68614 |
|  | LB Group Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31229 |
|  | Lee & Man Paper Manufacturing Ltd. | &nbsp;&nbsp;Paper & Forest Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26604 |
| <sup>a,b</sup> | Legend Holdings Corp., Class H | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46938 |
|  | Lens Technology Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85923 |
|  | Leo Group Co. Ltd., Class A | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24724 |
|  | Lepu Medical Technology Beijing Co. Ltd., Class A | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26548 |
|  | Levima Advanced Materials Corp., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10166 |
|  | Leyard Optoelectronic Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11752 |
| <sup>b</sup> | Li Auto, Inc., Class A | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1160807 |
|  | Li Ning Co. Ltd. | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;161000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347022 |
|  | Liaoning Port Co. Ltd., Class A | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;105800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22155 |
|  | Lingyi iTech Guangdong Co., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49647 |
|  | Livzon Pharmaceutical Group, Inc., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23144 |
|  | Livzon Pharmaceutical Group, Inc., Class H | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34632 |
| <sup>a</sup> | Longfor Group Holdings Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;138000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162787 |
|  | LONGi Green Energy Technology Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77164 |
|  | Longshine Technology Group Co. Ltd., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30182 |
| <sup>b</sup> | Loongson Technology Corp. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35065 |
| <sup>b</sup> | Lufax Holding Ltd., ADR | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61732 |
|  | Luxi Chemical Group Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13229 |
|  | Luxshare Precision Industry Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178217 |
| <sup>a,b</sup> | Luye Pharma Group Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;138000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62935 |
|  | Luzhou Laojiao Co. Ltd., Class A | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117150 |
| <sup>b</sup> | Maanshan Iron & Steel Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17724 |
|  | Mango Excellent Media Co. Ltd., Class A | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28025 |
|  | Mao Geping Cosmetics Co. Ltd. | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63462 |
|  | Maxscend Microelectronics Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24231 |
|  | Meihua Holdings Group Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27459 |
|  | Meinian Onehealth Healthcare Holdings Co. Ltd., Class A | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16504 |
| <sup>a,b</sup> | Meituan, Class B | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;377200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6020785 |
|  | Metallurgical Corp. of China Ltd., Class A | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38274 |
|  | Metallurgical Corp. of China Ltd., Class H | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;184000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37972 |
| <sup>b</sup> | Microport Scientific Corp. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76999 |
|  | Midea Group Co. Ltd., Class H | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;392641 |
|  | Ming Yang Smart Energy Group Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22136 |
|  | MINISO Group Holding Ltd. | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125167 |
|  | Minmetals Capital Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18719 |
|  | Minth Group Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145186 |
|  | Montage Technology Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63362 |
|  | Muyuan Foods Co. Ltd., Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161867 |
|  | Nanjing King-Friend Biochemical Pharmaceutical Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14321 |
|  | NARI Technology Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129520 |
|  | National Silicon Industry Group Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48687 |
|  | NAURA Technology Group Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160508 |
| <sup>b</sup> | NavInfo Co. Ltd., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16453 |
|  | NetEase, Inc. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;128800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3462013 |
|  | New China Life Insurance Co. Ltd., Class A | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75135 |

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------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

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| | | | | |
|:---|:---|:---|:---|:---|
|  | New China Life Insurance Co. Ltd., Class H | &nbsp;&nbsp;Insurance | &nbsp;&nbsp; 69000 | &nbsp;&nbsp; 375764 |
| <sup>b</sup> | New Hope Liuhe Co. Ltd., Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp; 27600 | &nbsp;&nbsp; 36142 |
|  | New Oriental Education & Technology Group, Inc. | &nbsp;&nbsp;Diversified Consumer Services | &nbsp;&nbsp; 110400 | &nbsp;&nbsp; 592785 |
|  | Newland Digital Technology Co. Ltd., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp; 4600 | &nbsp;&nbsp; 20794 |
|  | Nexchip Semiconductor Corp., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 9200 | &nbsp;&nbsp; 26034 |
| <sup>b</sup> | Nine Dragons Paper Holdings Ltd. | &nbsp;&nbsp;Paper & Forest Products | &nbsp;&nbsp; 92000 | &nbsp;&nbsp; 37855 |
| <sup>b</sup> | Ninestar Corp., Class A | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp; 9200 | &nbsp;&nbsp; 29463 |
|  | Ningbo Deye Technology Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp; 4769 | &nbsp;&nbsp; 35059 |
|  | Ningbo Joyson Electronic Corp., Class A | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp; 9200 | &nbsp;&nbsp; 22399 |
|  | Ningbo Orient Wires & Cables Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33207 |
|  | Ningbo Sanxing Medical Electric Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28795 |
| <sup>b</sup> | Ningbo Shanshan Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18225 |
|  | Ningbo Tuopu Group Co. Ltd., Class A | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60686 |
|  | Ningbo Zhoushan Port Co. Ltd., Class A | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21153 |
|  | Ningxia Baofeng Energy Group Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82918 |
| <sup>b</sup> | NIO, Inc., Class A | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;116840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;407824 |
| <sup>a</sup> | Nongfu Spring Co. Ltd., Class H | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;126000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;643643 |
| <sup>b</sup> | North Industries Group Red Arrow Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28114 |
|  | Northeast Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14699 |
| <sup>b</sup> | Offcn Education Technology Co. Ltd., Class A | &nbsp;&nbsp;Diversified Consumer Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13755 |
|  | Offshore Oil Engineering Co. Ltd., Class A | &nbsp;&nbsp;Energy Equipment & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17531 |
| <sup>b</sup> | OFILM Group Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30439 |
|  | OmniVision Integrated Circuits Group, Inc., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108704 |
|  | ORG Technology Co. Ltd., Class A | &nbsp;&nbsp;Containers & Packaging | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11463 |
|  | Orient Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49730 |
| <sup>a</sup> | Orient Securities Co. Ltd., Class H | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52129 |
| <sup>b</sup> | Oriental Energy Co. Ltd., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12407 |
|  | Oriental Pearl Group Co. Ltd., Class A | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19188 |
| <sup>b</sup> | Ourpalm Co. Ltd., Class A | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11694 |
|  | Ovctek China, Inc., Class A | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9806 |
| <sup>b</sup> | Pacific Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17666 |
| <sup>b</sup> | Pangang Group Vanadium Titanium & Resources Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18084 |
| <sup>b</sup> | PDD Holdings, Inc., ADR | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5627987 |
|  | People.cn Co. Ltd., Class A | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25957 |
|  | People's Insurance Co. Group of China Ltd., Class A | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67120 |
|  | People's Insurance Co. Group of China Ltd., Class H | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;598000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;454785 |
|  | Perfect World Co. Ltd., Class A | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19484 |
|  | PetroChina Co. Ltd., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;138000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164718 |
|  | PetroChina Co. Ltd., Class H | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;1472000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1265732 |
| <sup>b</sup> | Pharmaron Beijing Co. Ltd., Class A | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31518 |
| <sup>a,b</sup> | Pharmaron Beijing Co. Ltd., Class H | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48578 |
|  | PICC Property & Casualty Co. Ltd., Class H | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;488000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;944917 |
|  | Ping An Bank Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162772 |
| <sup>a</sup> | Ping An Healthcare & Technology Co. Ltd. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71948 |
|  | Ping An Insurance Group Co. of China Ltd., Class A | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;427535 |
|  | Ping An Insurance Group Co. of China Ltd., Class H | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;458900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2914161 |
|  | Pingdingshan Tianan Coal Mining Co. Ltd., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14276 |
|  | Piotech, Inc., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29012 |
|  | Poly Developments & Holdings Group Co. Ltd., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67621 |
| <sup>d</sup> | Poly Property Services Co. Ltd., Class H | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38851 |
| <sup>a</sup> | Pop Mart International Group Ltd. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1596204 |
|  | Postal Savings Bank of China Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;165600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126457 |
| <sup>a</sup> | Postal Savings Bank of China Co. Ltd., Class H | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;644000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;449569 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

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| | | | | |
|:---|:---|:---|:---|:---|
|  | Power Construction Corp. of China Ltd., Class A | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp; 87400 | &nbsp;&nbsp; 59421 |
|  | Qifu Technology, Inc., ADR | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp; 7682 | &nbsp;&nbsp; 333092 |
| <sup>a</sup> | Qingdao Port International Co. Ltd., Class H | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp; 46000 | &nbsp;&nbsp; 38558 |
| <sup>b</sup> | Qingdao TGOOD Electric Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp; 4600 | &nbsp;&nbsp; 15393 |
| <sup>b</sup> | Qinghai Salt Lake Industry Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 27600 | &nbsp;&nbsp; 65810 |
| <sup>b</sup> | Quzhou Xin'an Development Co. Ltd., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp; 46000 | &nbsp;&nbsp; 19008 |
|  | Range Intelligent Computing Technology Group Co. Ltd., Class A | &nbsp;&nbsp;IT Services | &nbsp;&nbsp; 9200 | &nbsp;&nbsp; 63614 |
|  | Raytron Technology Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp; 2117 | &nbsp;&nbsp; 20605 |
| <sup>a,b</sup> | Remegen Co. Ltd., Class H | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp; 11500 | &nbsp;&nbsp; 79768 |
|  | RLX Technology, Inc., ADR | &nbsp;&nbsp;Tobacco | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103287 |
|  | Rockchip Electronics Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42400 |
|  | Rongsheng Petrochemical Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58489 |
|  | SAIC Motor Corp. Ltd., Class A | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103069 |
|  | Sailun Group Co. Ltd., Class A | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33701 |
| <sup>b</sup> | Sanan Optoelectronics Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47855 |
|  | Sangfor Technologies, Inc., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28925 |
|  | Sany Heavy Equipment International Holdings Co. Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79108 |
|  | Sany Heavy Industry Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103743 |
|  | Satellite Chemical Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44516 |
|  | SDIC Capital Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33804 |
|  | SDIC Power Holdings Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75725 |
|  | Sealand Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21166 |
| <sup>b</sup> | Seazen Group Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;184000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54614 |
| <sup>b</sup> | Seazen Holdings Co. Ltd., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26355 |
| <sup>a,b</sup> | SenseTime Group, Inc., Class B | &nbsp;&nbsp;Software | &nbsp;&nbsp;1794000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340517 |
|  | Seres Group Co. Ltd., Class A | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172514 |
|  | SF Holding Co. Ltd., Class A | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156562 |
|  | SF Holding Co. Ltd., Class H | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52973 |
|  | SG Micro Corp., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3454 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35089 |
|  | Shaanxi Coal Industry Co. Ltd., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135910 |
|  | Shaanxi Energy Investment Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16761 |
|  | Shaanxi International Trust Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16048 |
|  | Shan Xi Hua Yang Group New Energy Co. Ltd., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17108 |
|  | Shandong Denghai Seeds Co. Ltd., Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6287 |
|  | Shandong Gold Mining Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82019 |
| <sup>a</sup> | Shandong Gold Mining Co. Ltd., Class H | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199602 |
|  | Shandong Himile Mechanical Science & Technology Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38030 |
| <sup>b</sup> | Shandong Hi-speed Co. Ltd., Class A | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27382 |
|  | Shandong Hualu Hengsheng Chemical Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41748 |
|  | Shandong Humon Smelting Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7578 |
|  | Shandong Linglong Tyre Co. Ltd., Class A | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18841 |
|  | Shandong Nanshan Aluminum Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34433 |
|  | Shandong Pharmaceutical Glass Co. Ltd., Class A | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14218 |
|  | Shandong Sun Paper Industry JSC Ltd., Class A | &nbsp;&nbsp;Paper & Forest Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25931 |
|  | Shandong Weigao Group Medical Polymer Co. Ltd., Class H | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;165600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128894 |
| <sup>b</sup> | Shanghai Aiko Solar Energy Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16825 |
|  | Shanghai Allist Pharmaceuticals Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51955 |
|  | Shanghai Bairun Investment Holding Group Co. Ltd., Class A | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16446 |
|  | Shanghai Baosight Software Co. Ltd., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30346 |
|  | Shanghai Baosight Software Co. Ltd., Class B | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74796 |
|  | Shanghai BOCHU Electronic Technology Corp. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25695 |
| <sup>b</sup> | Shanghai Construction Group Co. Ltd., Class A | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13813 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| <sup>b</sup> | Shanghai Electric Group Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp; 64400 | &nbsp;&nbsp; 66439 |
| <sup>b</sup> | Shanghai Electric Group Co. Ltd., Class H | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp; 184000 | &nbsp;&nbsp; 67506 |
|  | Shanghai Electric Power Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp; 18400 | &nbsp;&nbsp; 22579 |
|  | Shanghai Fosun Pharmaceutical Group Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp; 13800 | &nbsp;&nbsp; 48337 |
|  | Shanghai Fosun Pharmaceutical Group Co. Ltd., Class H | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp; 23000 | &nbsp;&nbsp; 49457 |
| <sup>b</sup> | Shanghai Fudan Microelectronics Group Co. Ltd., Class H | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 76178 |
|  | Shanghai International Airport Co. Ltd., Class A | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp; 13800 | &nbsp;&nbsp; 61206 |
|  | Shanghai International Port Group Co. Ltd., Class A | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp; 55200 | &nbsp;&nbsp; 44002 |
|  | Shanghai Jinjiang International Hotels Co. Ltd., Class A | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp; 4600 | &nbsp;&nbsp; 14410 |
|  | Shanghai Jinjiang International Hotels Co. Ltd., Class B | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19817 |
|  | Shanghai Jinqiao Export Processing Zone Development Co. Ltd., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6801 |
|  | Shanghai Jinqiao Export Processing Zone Development Co. Ltd., Class B | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14849 |
| <sup>b</sup> | Shanghai Junshi Biosciences Co. Ltd., Class A | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18980 |
| <sup>a,b</sup> | Shanghai Junshi Biosciences Co. Ltd., Class H | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24318 |
|  | Shanghai Lingang Holdings Corp. Ltd., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17474 |
|  | Shanghai Lujiazui Finance & Trade Zone Development Co. Ltd., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17069 |
|  | Shanghai Lujiazui Finance & Trade Zone Development Co. Ltd., Class B | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37674 |
|  | Shanghai Mechanical & Electrical Industry Co. Ltd., Class B | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20277 |
|  | Shanghai Moons' Electric Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36906 |
|  | Shanghai Pharmaceuticals Holding Co. Ltd., Class A | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45928 |
|  | Shanghai Pharmaceuticals Holding Co. Ltd., Class H | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95985 |
|  | Shanghai Pudong Development Bank Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;147200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285229 |
|  | Shanghai Putailai New Energy Technology Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24120 |
|  | Shanghai RAAS Blood Products Co. Ltd., Class A | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44117 |
|  | Shanghai Rural Commercial Bank Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68520 |
| <sup>b</sup> | Shanghai Stonehill Technology Co. Ltd., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25308 |
|  | Shanghai Tunnel Engineering Co. Ltd., Class A | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19586 |
|  | Shanghai United Imaging Healthcare Co. Ltd., Class A | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78465 |
|  | Shanghai Waigaoqiao Free Trade Zone Group Co. Ltd., Class B | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13929 |
|  | Shanghai Yuyuan Tourist Mart Group Co. Ltd., Class A | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17820 |
|  | Shanghai Zhangjiang High-Tech Park Development Co. Ltd., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33008 |
|  | Shanghai Zhenhua Heavy Industries Co. Ltd., Class B | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22025 |
|  | Shanjin International Gold Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36488 |
|  | Shanxi Coal International Energy Group Co. Ltd., Class A | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11212 |
|  | Shanxi Coking Coal Energy Group Co. Ltd., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28769 |
|  | Shanxi Lu'an Environmental Energy Development Co. Ltd., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27100 |
| <sup>b</sup> | Shanxi Meijin Energy Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16645 |
|  | Shanxi Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18752 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| <sup>b</sup> | Shanxi Taigang Stainless Steel Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 36800 | &nbsp;&nbsp; 18443 |
|  | Shanxi Xinghuacun Fen Wine Factory Co. Ltd., Class A | &nbsp;&nbsp;Beverages | &nbsp;&nbsp; 6220 | &nbsp;&nbsp; 153165 |
| <sup>b</sup> | Shenergy Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp; 27600 | &nbsp;&nbsp; 33136 |
|  | Shenghe Resources Holding Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 9200 | &nbsp;&nbsp; 16915 |
|  | Shengyi Technology Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp; 13800 | &nbsp;&nbsp; 58085 |
|  | Shennan Circuits Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp; 4600 | &nbsp;&nbsp; 69233 |
|  | Shenwan Hongyuan Group Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp; 115000 | &nbsp;&nbsp; 80593 |
| <sup>a</sup> | Shenwan Hongyuan Group Co. Ltd., Class H | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp; 147200 | &nbsp;&nbsp; 50254 |
|  | Shenzhen Agricultural Power Group Co. Ltd., Class A | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp; 9200 | &nbsp;&nbsp; 8207 |
|  | Shenzhen Airport Co. Ltd., Class A | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8862 |
|  | Shenzhen Capchem Technology Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22605 |
|  | Shenzhen Energy Group Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24582 |
|  | Shenzhen Everwin Precision Technology Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27485 |
| <sup>b</sup> | Shenzhen Expressway Corp. Ltd., Class H | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38395 |
|  | Shenzhen Gas Corp. Ltd., Class A | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12253 |
|  | Shenzhen Goodix Technology Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45614 |
|  | Shenzhen Huaqiang Industry Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17249 |
| <sup>b</sup> | Shenzhen Infogem Technologies Co. Ltd., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28294 |
|  | Shenzhen Inovance Technology Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124396 |
|  | Shenzhen International Holdings Ltd. | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90711 |
| <sup>b</sup> | Shenzhen Investment Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;184000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20861 |
|  | Shenzhen Kaifa Technology Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24069 |
|  | Shenzhen Kangtai Biological Products Co. Ltd., Class A | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9755 |
|  | Shenzhen Kedali Industry Co. Ltd., Class A | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28438 |
|  | Shenzhen Kingdom Sci-Tech Co. Ltd., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12182 |
|  | Shenzhen Kinwong Electronic Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26869 |
|  | Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191393 |
|  | Shenzhen MTC Co. Ltd., Class A | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19689 |
|  | Shenzhen New Industries Biomedical Engineering Co. Ltd., Class A | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36424 |
| <sup>b</sup> | Shenzhen Overseas Chinese Town Co. Ltd., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15894 |
|  | Shenzhen Salubris Pharmaceuticals Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30394 |
|  | Shenzhen SED Industry Co. Ltd., Class A | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25982 |
| <sup>b</sup> | Shenzhen Senior Technology Material Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16286 |
| <sup>b</sup> | Shenzhen Sunway Communication Co. Ltd., Class A | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14385 |
|  | Shenzhen Transsion Holdings Co. Ltd., Class A | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62553 |
|  | Shenzhen Woer Heat-Shrinkable Material Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15297 |
|  | Shenzhen Yan Tian Port Holding Co. Ltd., Class A | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11636 |
|  | Shenzhen YUTO Packaging Technology Co. Ltd., Class A | &nbsp;&nbsp;Containers & Packaging | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15040 |
|  | Shenzhen Zhongjin Lingnan Nonfemet Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14706 |
| <sup>b</sup> | Shijiazhuang Changshan BeiMing Technology Co. Ltd., Class A | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28281 |
|  | Shijiazhuang Yiling Pharmaceutical Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18109 |
| <sup>b</sup> | Siasun Robot & Automation Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22065 |
| <sup>b</sup> | Sichuan Biokin Pharmaceutical Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45473 |
|  | Sichuan Changhong Electric Co. Ltd., Class A | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37452 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

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| | | | | |
|:---|:---|:---|:---|:---|
|  | Sichuan Chuantou Energy Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp; 27600 | &nbsp;&nbsp; 61803 |
|  | Sichuan Hebang Biotechnology Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 55200 | &nbsp;&nbsp; 13486 |
|  | Sichuan Kelun Pharmaceutical Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp; 9200 | &nbsp;&nbsp; 46134 |
| <sup>b</sup> | Sichuan Kelun-Biotech Biopharmaceutical Co. Ltd. | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp; 3000 | &nbsp;&nbsp; 125045 |
|  | Sichuan New Energy Power Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp; 9200 | &nbsp;&nbsp; 12612 |
|  | Sichuan Road & Bridge Group Co. Ltd., Class A | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp; 36800 | &nbsp;&nbsp; 50860 |
|  | Sichuan Swellfun Co. Ltd., Class A | &nbsp;&nbsp;Beverages | &nbsp;&nbsp; 4600 | &nbsp;&nbsp; 27382 |
|  | Sichuan Yahua Industrial Group Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 4600 | &nbsp;&nbsp; 7321 |
| <sup>b</sup> | Sieyuan Electric Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp; 4600 | &nbsp;&nbsp; 46821 |
|  | Sinolink Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28159 |
|  | Sinoma International Engineering Co., Class A | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16530 |
|  | Sinoma Science & Technology Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25045 |
| <sup>b</sup> | Sinomine Resource Group Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20652 |
|  | Sinopec Engineering Group Co. Ltd., Class H | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70084 |
| <sup>b</sup> | Sinopec Oilfield Service Corp., Class H | &nbsp;&nbsp;Energy Equipment & Services | &nbsp;&nbsp;&nbsp;&nbsp;184000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16408 |
| <sup>b</sup> | Sinopec Shanghai Petrochemical Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14642 |
|  | Sinopec Shanghai Petrochemical Co. Ltd., Class H | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;276000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44652 |
|  | Sinopharm Group Co. Ltd., Class H | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215409 |
|  | Sinotrans Ltd., Class A | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15830 |
|  | Sinotrans Ltd., Class H | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;138000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69967 |
|  | Sinotruk Hong Kong Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134191 |
|  | Skshu Paint Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32718 |
| <sup>a</sup> | Smoore International Holdings Ltd. | &nbsp;&nbsp;Tobacco | &nbsp;&nbsp;&nbsp;&nbsp;138000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320652 |
|  | Songcheng Performance Development Co. Ltd., Class A | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16472 |
|  | SooChow Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33714 |
|  | Southwest Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25141 |
| <sup>b</sup> | SPIC Industry-Finance Holdings Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30747 |
|  | Spring Airlines Co. Ltd., Class A | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35737 |
|  | STO Express Co. Ltd., Class A | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13730 |
|  | Sun Art Retail Group Ltd. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;138000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40257 |
|  | Sungrow Power Supply Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102556 |
|  | Sunny Optical Technology Group Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;406382 |
|  | Sunresin New Materials Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32301 |
|  | Sunwoda Electronic Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25764 |
|  | SUPCON Technology Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25078 |
|  | Suzhou Dongshan Precision Manufacturing Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48510 |
|  | Suzhou TFC Optical Communication Co. Ltd., Class A | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42132 |
|  | Taiji Computer Corp. Ltd., Class A | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15040 |
| <sup>b</sup> | TAL Education Group, ADR | &nbsp;&nbsp;Diversified Consumer Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28796 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294295 |
|  | Tangshan Jidong Cement Co. Ltd., Class A | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11251 |
|  | TangShan Port Group Co. Ltd., Class A | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18251 |
|  | Tangshan Sanyou Chemical Industries Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9363 |
|  | Tasly Pharmaceutical Group Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20100 |
|  | TBEA Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45967 |
| <sup>b</sup> | TCL Technology Group Corp., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;101200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61174 |
|  | TCL Zhonghuan Renewable Energy Technology Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24660 |
|  | Tencent Holdings Ltd. | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;437550 | &nbsp;&nbsp;&nbsp;&nbsp;28036643 |
|  | Tencent Music Entertainment Group, ADR | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;683163 |
|  | Tian Di Science & Technology Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19233 |
| <sup>b</sup> | Tianfeng Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31659 |
|  | Tianjin Chase Sun Pharmaceutical Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9479 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| <sup>b</sup> | Tianma Microelectronics Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp; 18400 | &nbsp;&nbsp; 21885 |
| <sup>b</sup> | Tianqi Lithium Corp., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 9200 | &nbsp;&nbsp; 41151 |
|  | Tianshan Aluminum Group Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 23000 | &nbsp;&nbsp; 26682 |
| <sup>b</sup> | TianShan Material Co. Ltd., Class A | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp; 23000 | &nbsp;&nbsp; 14898 |
|  | Tianshui Huatian Technology Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 23000 | &nbsp;&nbsp; 32430 |
|  | Tingyi Cayman Islands Holding Corp. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp; 125000 | &nbsp;&nbsp; 183121 |
|  | Titan Wind Energy Suzhou Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp; 9200 | &nbsp;&nbsp; 9170 |
| <sup>d</sup> | Tongcheng Travel Holdings Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp; 92000 | &nbsp;&nbsp; 229473 |
|  | TongFu Microelectronics Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 9200 | &nbsp;&nbsp; 32905 |
|  | Tongkun Group Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20421 |
|  | Tongling Nonferrous Metals Group Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30028 |
| <sup>b</sup> | Tongwei Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53782 |
|  | Topchoice Medical Corp., Class A | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26970 |
| <sup>a</sup> | Topsports International Holdings Ltd. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;184000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71725 |
|  | Towngas Smart Energy Co. Ltd. | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46176 |
|  | TravelSky Technology Ltd., Class H | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80255 |
| <sup>b</sup> | Trina Solar Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25846 |
|  | Trip.com Group Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2538497 |
|  | Tsingtao Brewery Co. Ltd., Class A | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44606 |
|  | Tsingtao Brewery Co. Ltd., Class H | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290898 |
|  | Unigroup Guoxin Microelectronics Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42294 |
|  | Uni-President China Holdings Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111338 |
|  | Unisplendour Corp. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46217 |
| <sup>b</sup> | United Nova Technology Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23801 |
|  | Universal Scientific Industrial Shanghai Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18790 |
|  | Valiant Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7391 |
| <sup>b</sup> | Verisilicon Microelectronics Shanghai Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32332 |
|  | Victory Giant Technology Huizhou Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86296 |
|  | Vipshop Holdings Ltd., ADR | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320535 |
|  | Walvax Biotechnology Co. Ltd., Class A | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14128 |
| <sup>b</sup> | Wanda Film Holding Co. Ltd., Class A | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22020 |
|  | Wangsu Science & Technology Co. Ltd., Class A | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20652 |
|  | Wanhua Chemical Group Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139378 |
|  | Want Want China Holdings Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;276000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192673 |
|  | Wanxiang Qianchao Co. Ltd., Class A | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24563 |
|  | Weibo Corp., Class A | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62554 |
|  | Weichai Power Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69137 |
|  | Weichai Power Co. Ltd., Class H | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;138000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280219 |
|  | Weifu High-Technology Group Co. Ltd., Class A | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12163 |
|  | Weifu High-Technology Group Co. Ltd., Class B | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21078 |
|  | Wens Foodstuff Group Co. Ltd., Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76779 |
|  | Western Mining Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32038 |
|  | Western Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30362 |
|  | Western Superconducting Technologies Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22445 |
|  | Wingtech Technology Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43064 |
|  | Winning Health Technology Group Co. Ltd., Class A | &nbsp;&nbsp;Health Care Technology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20421 |
|  | Wintime Energy Group Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;119600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22373 |
|  | Wolong Electric Group Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30470 |
|  | Wuchan Zhongda Group Co. Ltd., Class A | &nbsp;&nbsp;Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27074 |
| <sup>b</sup> | Wuhan Guide Infrared Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46076 |
|  | Wuliangye Yibin Co. Ltd., Class A | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;333637 |
|  | WUS Printed Circuit Kunshan Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54688 |
|  | WuXi AppTec Co. Ltd., Class A | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133990 |
| <sup>a</sup> | WuXi AppTec Co. Ltd., Class H | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230439 |
| <sup>a,b</sup> | Wuxi Biologics Cayman, Inc. | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp;246015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;803858 |
| <sup>b</sup> | WuXi XDC Cayman, Inc. | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129834 |

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FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

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| | | | | |
|:---|:---|:---|:---|:---|
|  | XCMG Construction Machinery Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 59800 | &nbsp;&nbsp; 64866 |
|  | Xiamen C & D, Inc., Class A | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp; 18400 | &nbsp;&nbsp; 26637 |
|  | Xiamen ITG Group Corp. Ltd., Class A | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp; 13800 | &nbsp;&nbsp; 11655 |
|  | Xiamen Tungsten Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 9200 | &nbsp;&nbsp; 26869 |
| <sup>b</sup> | Xiangcai Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp; 17500 | &nbsp;&nbsp; 24504 |
| <sup>a,b</sup> | Xiaomi Corp., Class B | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;1223600 | &nbsp;&nbsp; 9344563 |
| <sup>b</sup> | Xinjiang Daqo New Energy Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 9200 | &nbsp;&nbsp; 27382 |
|  | Xinxing Ductile Iron Pipes Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 23000 | &nbsp;&nbsp; 11944 |
|  | Xinyi Solar Holdings Ltd. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 276000 | &nbsp;&nbsp; 87546 |
| <sup>b</sup> | XPeng, Inc., Class A | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;868785 |
|  | Xtep International Holdings Ltd. | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;115000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82478 |
|  | Xuji Electric Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27960 |
| <sup>a</sup> | Yadea Group Holdings Ltd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147200 |
|  | Yangling Metron New Material, Inc., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13055 |
| <sup>b,c</sup> | Yango Group Co. Ltd., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| <sup>a,b</sup> | Yangtze Optical Fibre & Cable Joint Stock Co. Ltd., Class H | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23064 |
|  | Yangzhou Yangjie Electronic Technology Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33329 |
|  | Yangzijiang Shipbuilding Holdings Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;174800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;304680 |
|  | Yankuang Energy Group Co. Ltd., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46892 |
|  | Yankuang Energy Group Co. Ltd., Class H | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;221650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220521 |
|  | Yantai Changyu Pioneer Wine Co. Ltd., Class B | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19244 |
|  | Yantai Eddie Precision Machinery Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11232 |
|  | Yantai Jereh Oilfield Services Group Co. Ltd., Class A | &nbsp;&nbsp;Energy Equipment & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44952 |
|  | Yealink Network Technology Corp. Ltd., Class A | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44644 |
|  | Yifan Pharmaceutical Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16684 |
|  | Yifeng Pharmacy Chain Co. Ltd., Class A | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15714 |
|  | Yihai International Holding Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58787 |
|  | Yihai Kerry Arawana Holdings Co. Ltd., Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37927 |
|  | Yili Chuanning Biotechnology Co. Ltd., Class A | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23195 |
|  | Yonfer Agricultural Technology Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17763 |
| <sup>b</sup> | Yonghui Superstores Co. Ltd., Class A | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31467 |
| <sup>b</sup> | Yonyou Network Technology Co. Ltd., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34344 |
|  | Youngor Fashion Co. Ltd., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28127 |
|  | YTO Express Group Co. Ltd., Class A | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33111 |
|  | Yuan Longping High-tech Agriculture Co. Ltd., Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12651 |
|  | Yuexiu Property Co. Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50395 |
|  | Yum China Holdings, Inc. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1132538 |
|  | Yunnan Aluminium Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41048 |
|  | Yunnan Baiyao Group Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71654 |
|  | Yunnan Botanee Bio-Technology Group Co. Ltd., Class A | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28397 |
|  | Yunnan Copper Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24505 |
| <sup>b</sup> | Yunnan Energy New Material Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18809 |
|  | Yunnan Tin Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19651 |
|  | Yunnan Yuntianhua Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28217 |
|  | Yutong Bus Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47893 |
| <sup>b</sup> | Zai Lab Ltd. | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257366 |
|  | Zangge Mining Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54803 |
| <sup>b</sup> | ZEEKR Intelligent Technology Holding Ltd., ADR | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41055 |
|  | Zhangzhou Pientzehuang Pharmaceutical Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83766 |
|  | Zhaojin Mining Industry Co. Ltd., Class H | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;115000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;298853 |
|  | Zhefu Holding Group Co. Ltd., Class A | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15823 |
|  | Zhejiang China Commodities City Group Co. Ltd., Class A | &nbsp;&nbsp;Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79681 |
|  | Zhejiang Chint Electrics Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29116 |
|  | Zhejiang Crystal-Optech Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25648 |
|  | Zhejiang Dahua Technology Co. Ltd., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40791 |

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FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

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| | | | | |
|:---|:---|:---|:---|:---|
|  | Zhejiang Daily Digital Culture Group Co. Ltd., Class A | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp; 9200 | &nbsp;&nbsp; 17775 |
|  | Zhejiang Expressway Co. Ltd., Class H | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp; 92000 | &nbsp;&nbsp; 84617 |
|  | Zhejiang Hailiang Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 9200 | &nbsp;&nbsp; 13255 |
| <sup>b</sup> | Zhejiang Hisoar Pharmaceutical Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp; 9200 | &nbsp;&nbsp; 7064 |
|  | Zhejiang Huace Film & Television Co. Ltd., Class A | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp; 13800 | &nbsp;&nbsp; 14468 |
|  | Zhejiang Huahai Pharmaceutical Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp; 9200 | &nbsp;&nbsp; 23927 |
|  | Zhejiang Huayou Cobalt Co. Ltd., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp; 9200 | &nbsp;&nbsp; 47547 |
|  | Zhejiang Jingsheng Mechanical & Electrical Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 9200 | &nbsp;&nbsp; 34870 |
|  | Zhejiang Jiuzhou Pharmaceutical Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp; 4600 | &nbsp;&nbsp; 9767 |
|  | Zhejiang Juhua Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55253 |
| <sup>a,b</sup> | Zhejiang Leapmotor Technology Co. Ltd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320535 |
|  | Zhejiang Longsheng Group Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26098 |
|  | Zhejiang Medicine Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9498 |
|  | Zhejiang NHU Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40977 |
|  | Zhejiang Sanhua Intelligent Controls Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50822 |
|  | Zhejiang Supor Co. Ltd., Class A | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33644 |
|  | Zhejiang Wanfeng Auto Wheel Co. Ltd., Class A | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30613 |
|  | Zhejiang Weiming Environment Protection Co. Ltd., Class A | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24505 |
|  | Zhejiang Weixing New Building Materials Co. Ltd., Class A | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13306 |
|  | Zhejiang Wolwo Bio-Pharmaceutical Co. Ltd., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13255 |
| <sup>b</sup> | Zhejiang Yongtai Technology Co. Ltd., Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8265 |
|  | Zhejiang Zheneng Electric Power Co. Ltd., Class A | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34035 |
| <sup>b</sup> | Zhengzhou Coal Mining Machinery Group Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21346 |
|  | Zheshang Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35031 |
| <sup>a,b</sup> | ZhongAn Online P&C Insurance Co. Ltd., Class H | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117701 |
|  | Zhongji Innolight Co. Ltd., Class A | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93668 |
|  | Zhongjin Gold Corp. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56370 |
|  | Zhongshan Public Utilities Group Co. Ltd., Class A | &nbsp;&nbsp;Water Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11277 |
|  | Zhongsheng Group Holdings Ltd. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70904 |
|  | Zhongtai Securities Co. Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33034 |
|  | Zhuhai Huafa Properties Co. Ltd., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9382 |
|  | Zhuzhou CRRC Times Electric Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24709 |
|  | Zhuzhou CRRC Times Electric Co. Ltd., Class H | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129620 |
|  | Zhuzhou Kibing Group Co. Ltd., Class A | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9652 |
|  | Zijin Mining Group Co. Ltd., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;101200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;275493 |
|  | Zijin Mining Group Co. Ltd., Class H | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;420000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1072739 |
| <sup>a</sup> | ZJLD Group, Inc. | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36155 |
|  | Zoomlion Heavy Industry Science & Technology Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41786 |
|  | Zoomlion Heavy Industry Science & Technology Co. Ltd., Class H | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;101200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75159 |
|  | ZTE Corp., Class A | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83457 |
|  | ZTE Corp., Class H | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170874 |
|  | ZTO Express Cayman, Inc. | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;568115 |
|  |  |  |  | &nbsp;&nbsp;190856305 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Hong Kong 2.8%** |  |  |  |
| <sup>b,e</sup> | Alibaba Health Information Technology Ltd., Class A | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp; 368000 | &nbsp;&nbsp; 222206 |
| <sup>b</sup> | Alibaba Pictures Group Ltd., Class A | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp; 920000 | &nbsp;&nbsp; 112509 |
|  | Beijing Enterprises Water Group Ltd., Class A | &nbsp;&nbsp;Water Utilities | &nbsp;&nbsp; 276000 | &nbsp;&nbsp; 83327 |
|  | Bosideng International Holdings Ltd., Class A | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp; 276000 | &nbsp;&nbsp; 163139 |
|  | China Everbright Environment Group Ltd., Class B | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp; 230000 | &nbsp;&nbsp; 111923 |
|  | China Everbright Ltd., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp; 92000 | &nbsp;&nbsp; 85320 |
|  | China Gas Holdings Ltd., Class A | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp; 193200 | &nbsp;&nbsp; 180402 |
|  | China Mengniu Dairy Co. Ltd., Class B | &nbsp;&nbsp;Food Products | &nbsp;&nbsp; 214000 | &nbsp;&nbsp; 438904 |
|  | China Power International Development Ltd., Class H | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;276000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105126 |
|  | China Resources Beer Holdings Co. Ltd., Class A | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;113835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362532 |
|  | China Resources Gas Group Ltd., Class A | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164487 |
|  | China Resources Land Ltd., Class H | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;207000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;701427 |
|  | China State Construction International Holdings Ltd., Class A | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;120000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180994 |
| <sup>b</sup> | China Traditional Chinese Medicine Holdings Co. Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;276000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77702 |
|  | COSCO SHIPPING Ports Ltd., Class B | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60943 |
|  | Far East Horizon Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79929 |
|  | Geely Automobile Holdings Ltd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;414000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;841712 |
|  | Guangdong Investment Ltd. | &nbsp;&nbsp;Water Utilities | &nbsp;&nbsp;&nbsp;&nbsp;184000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153763 |
| <sup>b</sup> | J&T Global Express Ltd. | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;414000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;357569 |
|  | Kingboard Laminates Holdings Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84031 |
|  | Kunlun Energy Co. Ltd. | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp;276000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;267913 |
|  | Shanghai Industrial Holdings Ltd. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79460 |
|  | Shougang Fushan Resources Group Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;184000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67037 |
|  | Sino Biopharmaceutical Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;690000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;462344 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5444699 |
|  | **Singapore 0.0%<sup>†</sup>** |  |  |  |
|  | Yangzijiang Financial Holding Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;156400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90869 |
|  | **Total Common Stocks (Cost $185,568,348)** |  |  | &nbsp;&nbsp;196391873 |
|  | **Total Investments before Short-Term Investments (Cost $185,568,348)** |  |  | &nbsp;&nbsp;196391873 |
|  | **Short-Term Investments 0.2%** |  |  |  |
|  | **Investments from Cash Collateral<br> Received for Loaned Securities 0.1%** |  |  |  |
|  | **United States 0.1%** |  |  |  |
| <sup>f,g</sup> | Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;171600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171600 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Money Market Funds 0.1%** |  |  |  |
|  | **United States 0.1%** |  |  |  |
| <sup>f,g</sup> | Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp; 250169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250169 |
|  | **Total Short-Term Investments (Cost $421,769)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;421769 |
|  | **Total Investments (Cost $185,990,117) 99.4%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196813642 |
|  | **Other Assets, less Liabilities 0.6%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1232962 |
|  | **Net Assets 100.0%** |  |  | &nbsp;&nbsp;$198046604 |

---

---

| |
|:---|
| <sup>†</sup>Rounds to less than 0.1% of net assets. |
| <sup>a</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional buyers or in a public offering registered under the Securities Act of 1933. At June 30, 2025, the aggregate value of these securities was $29,839,082, representing 15.1% of net assets. |
| <sup>b</sup>Non-income producing. |
| <sup>c</sup>Fair valued using significant unobservable inputs. See Note 5 regarding fair value measurements. |
| <sup>d</sup>Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption from registration. At June 30, 2025, the aggregate value of these securities was $268,324, representing 0.1% of net assets. |
| <sup>e</sup>A portion or all of the security is on loan at June 30, 2025. |
| <sup>f</sup>The rate shown is the annualized seven-day effective yield at period end. |
| <sup>g</sup>See Note 3 regarding investments in affiliated management investment companies. |

---

At June 30, 2025, the Fund had the following futures contracts outstanding.

#### Futures Contracts

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Type** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Notional<br> Amount\*** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value/Unrealized<br> Appreciation<br> (Depreciation)** |
| **Equity Contracts** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;MSCI China Futures | &nbsp;&nbsp;Long | &nbsp;&nbsp;48 | &nbsp;&nbsp;$1447440 | &nbsp;&nbsp;9/19/25 | &nbsp;&nbsp;$(9859) |

---

\*As of period end.

#### Abbreviations

---

| | |
|:---|:---|
| **Selected Portfolio** |  |
| **ADR** | American Depositary Receipt |
| **SF** | Single Family |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Franklin FTSE Europe ETF** | &nbsp;&nbsp;**Industry** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
|  | **Common Stocks 99.0%** |  |  |  |
|  | **Australia 0.8%** |  |  |  |
| <sup>a</sup> | Glencore PLC | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 96373 | &nbsp;&nbsp;$374536 |
|  | Rio Tinto PLC | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 9299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 540935 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;915471 |
|  | **Austria 0.4%** |  |  |  |
|  | ANDRITZ AG | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42812 |
|  | Erste Group Bank AG | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 2533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 214974 |
|  | Mondi PLC | &nbsp;&nbsp;Paper & Forest Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64566 |
|  | OMV AG | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69116 |
|  | Raiffeisen Bank International AG | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35118 |
|  | Telekom Austria AG | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6355 |
|  | Verbund AG | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45503 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;478444 |
|  | **Belgium 1.3%** |  |  |  |
|  | Ackermans & van Haaren NV | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47634 |
|  | Ageas SA | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112156 |
|  | Anheuser-Busch InBev SA | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;592724 |
|  | D'ieteren Group | &nbsp;&nbsp;Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40039 |
|  | Elia Group SA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44865 |
|  | Groupe Bruxelles Lambert NV | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60597 |
|  | KBC Group NV | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209915 |
|  | Lotus Bakeries NV | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38361 |
|  | Sofina SA | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44700 |
|  | Syensqo SA | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48347 |
|  | UCB SA | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213220 |
|  | Warehouses De Pauw CVA | &nbsp;&nbsp;Industrial REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38003 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1490561 |
|  | **Bermuda 0.0%<sup>†</sup>** |  |  |  |
|  | Hiscox Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52041 |
|  | **Chile 0.1%** |  |  |  |
|  | Antofagasta PLC | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3094 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76720 |
|  | **Denmark 3.3%** |  |  |  |
|  | AP Moller - Maersk AS, Class A | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44180 |
|  | AP Moller - Maersk AS, Class B | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70400 |
|  | Carlsberg AS, Class B | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115214 |
|  | Coloplast AS, Class B | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106201 |
|  | Danske Bank AS | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236972 |
| <sup>a</sup> | Demant AS | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31800 |
|  | DSV AS | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415235 |
| <sup>a</sup> | Genmab AS | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116070 |
|  | H Lundbeck AS | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14393 |
|  | H Lundbeck AS, Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2125 |
|  | Novo Nordisk AS, Class B | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;28713 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1985940 |
|  | Novonesis Novozymes B, Class B | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224699 |
| <sup>a,b</sup> | Orsted AS | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1309 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56019 |
|  | Pandora AS | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;697 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121946 |
|  | Rockwool AS, Class B | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33297 |
|  | Tryg AS | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70889 |
|  | Vestas Wind Systems AS | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134955 |
| <sup>a</sup> | Zealand Pharma AS | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36051 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3816386 |
|  | **Finland 1.6%** |  |  |  |
|  | Elisa OYJ | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70463 |
|  | Fortum OYJ | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70394 |
|  | Kesko OYJ, Class B | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56830 |
|  | Kone OYJ, Class B | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183993 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Metso OYJ | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 6188 | &nbsp;&nbsp; 79756 |
|  | Neste OYJ | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 3723 | &nbsp;&nbsp; 50345 |
|  | Nokia OYJ | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp; 45645 | &nbsp;&nbsp; 236075 |
|  | Nordea Bank Abp | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 29886 | &nbsp;&nbsp; 442380 |
|  | Orion OYJ, Class B | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp; 952 | &nbsp;&nbsp; 71353 |
|  | Sampo OYJ, Class A | &nbsp;&nbsp;Insurance | &nbsp;&nbsp; 21352 | &nbsp;&nbsp; 228835 |
|  | Stora Enso OYJ, Class R | &nbsp;&nbsp;Paper & Forest Products | &nbsp;&nbsp; 5338 | &nbsp;&nbsp; 57798 |
|  | UPM-Kymmene OYJ | &nbsp;&nbsp;Paper & Forest Products | &nbsp;&nbsp; 4573 | &nbsp;&nbsp; 124323 |
|  | Valmet OYJ | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 1275 | &nbsp;&nbsp; 39317 |
|  | Wartsila OYJ Abp | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95578 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1807440 |
|  | **France 15.8%** |  |  |  |
|  | Accor SA | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102616 |
|  | Aeroports de Paris SA | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44588 |
|  | Air Liquide SA | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1065974 |
|  | Airbus SE | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1093026 |
| <sup>a</sup> | Alstom SA | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72702 |
| <sup>b</sup> | Amundi SA | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41128 |
|  | Arkema SA | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;527 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38695 |
|  | AXA SA | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;15657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;765851 |
| <sup>b</sup> | Ayvens SA | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24138 |
|  | BioMerieux | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53884 |
|  | BNP Paribas SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;807190 |
|  | Bollore SE | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39567 |
|  | Bouygues SA | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75863 |
|  | Bureau Veritas SA | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100487 |
|  | Capgemini SE | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237352 |
|  | Carrefour SA | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69271 |
|  | Cie de Saint-Gobain SA | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475218 |
|  | Cie Generale des Etablissements Michelin SCA | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229729 |
|  | Covivio SA | &nbsp;&nbsp;Diversified REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30990 |
|  | Credit Agricole SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158689 |
|  | Danone SA | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;466445 |
|  | Dassault Aviation SA | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59906 |
|  | Dassault Systemes SE | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217084 |
|  | Edenred SE | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66103 |
|  | Eiffage SA | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85669 |
|  | Engie SA | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp;&nbsp;&nbsp;15878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371370 |
|  | EssilorLuxottica SA | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;711086 |
|  | Eurazeo SE | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25374 |
| <sup>b</sup> | FDJ UNITED | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34555 |
|  | Gecina SA | &nbsp;&nbsp;Office REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50270 |
|  | Getlink SE | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58545 |
|  | Hermes International SCA | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825796 |
|  | Ipsen SA | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36315 |
|  | Kering SA | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136270 |
|  | Klepierre SA | &nbsp;&nbsp;Retail REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72737 |
|  | Legrand SA | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303502 |
|  | L'Oreal SA | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;883990 |
|  | LVMH Moet Hennessy Louis Vuitton SE | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1197746 |
|  | Orange SA | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;18734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284012 |
|  | Pernod Ricard SA | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172200 |
|  | Publicis Groupe SA | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229120 |
|  | Renault SA | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76524 |
|  | Rexel SA | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60510 |
|  | Safran SA | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1013050 |
|  | Sanofi SA | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;931825 |
|  | Sartorius Stedim Biotech | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60704 |
|  | Schneider Electric SE | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4879 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1293204 |
|  | SCOR SE | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50883 |
|  | SEB SA | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20780 |
|  | Societe Generale SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;368158 |
|  | Sodexo SA | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44792 |
|  | Teleperformance SE | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45996 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Thales SA | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp; 799 | &nbsp;&nbsp; 234101 |
|  | TotalEnergies SE | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 18309 | &nbsp;&nbsp; 1119734 |
| <sup>a</sup> | Unibail-Rodamco-Westfield | &nbsp;&nbsp;Retail REITs | &nbsp;&nbsp; 867 | &nbsp;&nbsp; 82578 |
|  | Veolia Environnement SA | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp; 5423 | &nbsp;&nbsp; 192565 |
|  | Vinci SA | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp; 4488 | &nbsp;&nbsp; 659056 |
|  | Wendel SE | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp; 221 | &nbsp;&nbsp; 23244 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;18092757 |
|  | **Germany 14.8%** |  |  |  |
|  | adidas AG | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp; 1496 | &nbsp;&nbsp; 347616 |
|  | Allianz SE | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1407667 |
|  | BASF SE | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395113 |
|  | Bayer AG | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264463 |
|  | Bayerische Motoren Werke AG | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227381 |
|  | Bechtle AG | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34135 |
|  | Beiersdorf AG | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106362 |
|  | Brenntag SE | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72897 |
|  | Carl Zeiss Meditec AG | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21612 |
|  | Commerzbank AG | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7548 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237277 |
|  | Continental AG | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84286 |
| <sup>a</sup> | Covestro AG | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109683 |
|  | CTS Eventim AG & Co. KGaA | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;527 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65202 |
|  | Daimler Truck Holding AG | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211625 |
| <sup>a,b</sup> | Delivery Hero SE | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53172 |
|  | Deutsche Bank AG | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;16337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;482690 |
|  | Deutsche Boerse AG | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;541515 |
|  | Deutsche Lufthansa AG | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45706 |
|  | Deutsche Post AG | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;392791 |
|  | Deutsche Telekom AG | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;29648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1077827 |
|  | Deutsche Wohnen SE | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13466 |
| <sup>b</sup> | DWS Group GmbH & Co. KGaA | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16028 |
|  | E.ON SE | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp;&nbsp;&nbsp;19907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365122 |
|  | Evonik Industries AG | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46097 |
|  | Fielmann Group AG | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14709 |
| <sup>a</sup> | Fraport AG Frankfurt Airport Services Worldwide | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22971 |
|  | Fresenius Medical Care AG | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109704 |
|  | Fresenius SE & Co. KGaA | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185670 |
|  | FUCHS SE | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11941 |
|  | GEA Group AG | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93643 |
|  | Hannover Rueck SE | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170627 |
|  | Heidelberg Materials AG | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;266668 |
|  | Henkel AG & Co. KGaA | &nbsp;&nbsp;Household Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63817 |
|  | HOCHTIEF AG | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26708 |
|  | Infineon Technologies AG | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;11662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;494394 |
|  | KION Group AG | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34880 |
|  | Knorr-Bremse AG | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57307 |
|  | LEG Immobilien SE | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58642 |
|  | Mercedes-Benz Group AG | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396634 |
|  | Merck KGaA | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149267 |
|  | MTU Aero Engines AG | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210761 |
|  | Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;758135 |
|  | Nemetschek SE | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71181 |
|  | Puma SE | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24979 |
|  | Rational AG | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42625 |
|  | Rheinmetall AG | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;812122 |
|  | RWE AG | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248871 |
|  | SAP SE | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2807566 |
| <sup>b</sup> | Scout24 SE | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86461 |
|  | Siemens AG | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1689544 |
| <sup>a</sup> | Siemens Energy AG | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;657495 |
| <sup>b</sup> | Siemens Healthineers AG | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148378 |
|  | Symrise AG | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126297 |
|  | Talanx AG | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70179 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Traton SE | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 561 | &nbsp;&nbsp; 18123 |
|  | Volkswagen AG | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp; 255 | &nbsp;&nbsp; 27449 |
|  | Vonovia SE | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp; 6324 | &nbsp;&nbsp; 222035 |
|  | Wacker Chemie AG | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 170 | &nbsp;&nbsp; 12372 |
| <sup>a,b</sup> | Zalando SE | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp; 2108 | &nbsp;&nbsp; 69162 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;16881050 |
|  | **Ireland 0.9%** |  |  |  |
|  | AIB Group PLC | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 18258 | &nbsp;&nbsp; 149704 |
|  | Bank of Ireland Group PLC | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 8806 | &nbsp;&nbsp; 124922 |
|  | DCC PLC | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57274 |
|  | Experian PLC | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;423047 |
|  | Glanbia PLC | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24196 |
|  | Kerry Group PLC, Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164632 |
|  | Kingspan Group PLC | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116703 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1060478 |
|  | **Isle Of Man 0.1%** |  |  |  |
|  | Entain PLC | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5457 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67377 |
|  | **Italy 4.9%** |  |  |  |
|  | A2A SpA | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp;&nbsp;&nbsp;14042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37664 |
|  | Amplifon SpA | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26647 |
|  | Banca Mediolanum SpA | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32676 |
|  | Banca Monte dei Paschi di Siena SpA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7871 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66727 |
|  | Banco BPM SpA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;13328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155074 |
|  | BPER Banca SpA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8908 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80684 |
|  | Brunello Cucinelli SpA | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37069 |
|  | Buzzi SpA | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39442 |
|  | Davide Campari-Milano NV | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33842 |
|  | DiaSorin SpA | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19945 |
|  | Enel SpA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;69785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;659924 |
|  | Eni SpA | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;18496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;298751 |
|  | Ferrari NV | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;523118 |
|  | FinecoBank Banca Fineco SpA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121403 |
|  | Generali | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;308661 |
|  | Hera SpA | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33152 |
| <sup>b</sup> | Infrastrutture Wireless Italiane SpA | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34592 |
|  | Interpump Group SpA | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27504 |
|  | Intesa Sanpaolo SpA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;141253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;811058 |
|  | Italgas SpA | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43247 |
|  | Leonardo SpA | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203089 |
|  | Mediobanca Banca di Credito Finanziario SpA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118540 |
|  | Moncler SpA | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115877 |
| <sup>b</sup> | Nexi SpA | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26427 |
| <sup>b</sup> | Pirelli & C SpA | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23247 |
| <sup>b</sup> | Poste Italiane SpA | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87721 |
|  | Prysmian SpA | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182115 |
|  | Recordati Industria Chimica e Farmaceutica SpA | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60740 |
|  | Reply SpA | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35106 |
|  | Snam SpA | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp;18581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112154 |
| <sup>a</sup> | Telecom Italia SpA | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;96798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47564 |
| <sup>a</sup> | Telecom Italia SpA | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;37485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20390 |
|  | Terna - Rete Elettrica Nazionale | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;12597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129031 |
|  | UniCredit SpA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;14025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;936923 |
|  | Unipol Assicurazioni SpA | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66814 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5556918 |
|  | **Luxembourg 0.2%** |  |  |  |
|  | ArcelorMittal SA | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120646 |
| <sup>b</sup> | CVC Capital Partners PLC | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39191 |
|  | Eurofins Scientific SE | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72366 |
|  | RTL Group SA | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14086 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246289 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Mexico 0.0%<sup>†</sup>** |  |  |  |
|  | Fresnillo PLC | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 1615 | &nbsp;&nbsp; 31869 |
|  | **Netherlands 8.7%** |  |  |  |
|  | Aalberts NV | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 850 | &nbsp;&nbsp; 30691 |
| <sup>b</sup> | ABN AMRO Bank NV | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 4658 | &nbsp;&nbsp; 127071 |
| <sup>a,b</sup> | Adyen NV | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp; 238 | &nbsp;&nbsp; 435380 |
|  | Aegon Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp; 11934 | &nbsp;&nbsp; 86126 |
|  | Akzo Nobel NV | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 1530 | &nbsp;&nbsp; 106682 |
| <sup>a</sup> | Argenx SE | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp; 544 | &nbsp;&nbsp; 300002 |
|  | ASM International NV | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271095 |
|  | ASML Holding NV | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2821285 |
|  | ASR Nederland NV | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1309 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86632 |
|  | BE Semiconductor Industries NV | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93807 |
| <sup>b</sup> | CTP NV | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25276 |
| <sup>b</sup> | Euronext NV | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133195 |
|  | EXOR NV | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83701 |
|  | Ferrovial SE | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224893 |
|  | Heineken Holding NV | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75731 |
|  | Heineken NV | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217134 |
|  | IMCD NV | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;527 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70553 |
|  | ING Groep NV | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;27455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600279 |
|  | JDE Peet's NV | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39665 |
|  | Koninklijke Ahold Delhaize NV | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341458 |
|  | Koninklijke KPN NV | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;33881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164494 |
|  | Koninklijke Philips NV | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176764 |
|  | Koninklijke Vopak NV | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26961 |
|  | NN Group NV | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155372 |
|  | Prosus NV | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;11492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640364 |
|  | Randstad NV | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43806 |
|  | Shell PLC | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;53873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1885117 |
|  | Universal Music Group NV | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273091 |
|  | Wolters Kluwer NV | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;351252 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9887877 |
|  | **Nigeria 0.0%<sup>†</sup>** |  |  |  |
| <sup>b</sup> | Airtel Africa PLC | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12307 |
|  | **Norway 0.9%** |  |  |  |
|  | Aker ASA, Class A | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11003 |
|  | Aker BP ASA | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69725 |
|  | DNB Bank ASA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202184 |
|  | Equinor ASA | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164988 |
|  | Gjensidige Forsikring ASA | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41188 |
|  | Kongsberg Gruppen ASA | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143792 |
|  | Mowi ASA | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75843 |
|  | Norsk Hydro ASA | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;11509 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65440 |
|  | Orkla ASA | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64625 |
|  | Salmar ASA | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24948 |
|  | Telenor ASA | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88185 |
|  | Var Energi ASA | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21560 |
|  | Vend Marketplaces ASA, Class A | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22065 |
|  | Vend Marketplaces ASA, Class B | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27400 |
|  | Yara International ASA | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53743 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1076689 |
|  | **Poland 0.7%** |  |  |  |
| <sup>a,b</sup> | Allegro.eu SA | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58254 |
|  | Bank Polska Kasa Opieki SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80937 |
| <sup>a,b</sup> | Dino Polska SA | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61861 |
| <sup>a</sup> | InPost SA | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35734 |
| <sup>a</sup> | KGHM Polska Miedz SA | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44266 |
|  | LPP SA | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48714 |
| <sup>a</sup> | mBank SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26278 |
|  | ORLEN SA | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5304 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120500 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Powszechna Kasa Oszczednosci Bank Polski SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 7633 | &nbsp;&nbsp; 158923 |
|  | Powszechny Zaklad Ubezpieczen SA | &nbsp;&nbsp;Insurance | &nbsp;&nbsp; 5049 | &nbsp;&nbsp; 88021 |
|  | Santander Bank Polska SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 340 | &nbsp;&nbsp; 46440 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;769928 |
|  | **Portugal 0.3%** |  |  |  |
|  | Banco Comercial Portugues SA, Class R | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 82960 | &nbsp;&nbsp; 64331 |
|  | EDP SA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp; 26979 | &nbsp;&nbsp; 116606 |
|  | Galp Energia SGPS SA, Class B | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 3621 | &nbsp;&nbsp; 66181 |
|  | Jeronimo Martins SGPS SA | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp; 2465 | &nbsp;&nbsp; 62153 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309271 |
|  | **Russia 0.0%** |  |  |  |
| <sup>a,c</sup> | Evraz PLC | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;10404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | **South Africa 0.2%** |  |  |  |
|  | Anglo American PLC | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;281986 |
|  | **Spain 4.9%** |  |  |  |
|  | Acciona SA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39640 |
|  | ACS Actividades de Construccion y Servicios SA | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110579 |
| <sup>b</sup> | Aena SME SA | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167310 |
|  | Amadeus IT Group SA | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;328075 |
|  | Banco Bilbao Vizcaya Argentaria SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;50983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;781294 |
|  | Banco de Sabadell SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;48467 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153782 |
|  | Banco Santander SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;135813 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1120273 |
|  | Bankinter SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72744 |
|  | CaixaBank SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;32776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;282938 |
| <sup>a,b</sup> | Cellnex Telecom SA | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196602 |
|  | Corp. ACCIONA Energias Renovables SA | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11343 |
|  | EDP Renovaveis SA | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32332 |
|  | Endesa SA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89613 |
| <sup>a</sup> | Grifols SA | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32220 |
|  | Iberdrola SA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;56797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1086073 |
|  | Industria de Diseno Textil SA | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;515754 |
|  | Mapfre SA | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33584 |
|  | Merlin Properties Socimi SA | &nbsp;&nbsp;Diversified REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44643 |
|  | Naturgy Energy Group SA | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26940 |
|  | Redeia Corp. SA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77871 |
|  | Repsol SA | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;10319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150625 |
|  | Telefonica SA | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;36839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192779 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5547014 |
|  | **Sweden 4.8%** |  |  |  |
|  | AAK AB | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40731 |
|  | AddTech AB, Class B | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67202 |
|  | Alfa Laval AB | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102889 |
|  | Assa Abloy AB, Class B | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270129 |
|  | Atlas Copco AB, Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;22780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365349 |
|  | Atlas Copco AB, Class B | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;13481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190183 |
|  | Axfood AB | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27930 |
|  | Beijer Ref AB | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57011 |
| <sup>a</sup> | Boliden AB | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76326 |
|  | Castellum AB | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3604 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46911 |
|  | Epiroc AB, Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120541 |
|  | Epiroc AB, Class B | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64249 |
|  | EQT AB | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171301 |
|  | Essity AB, Class B | &nbsp;&nbsp;Household Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147214 |
| <sup>b</sup> | Evolution AB | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97870 |
| <sup>a</sup> | Fastighets AB Balder, Class B | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44993 |
|  | Getinge AB, Class B | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40267 |
|  | H & M Hennes & Mauritz AB, Class B | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60925 |
|  | Hexagon AB, Class B | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;18547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185190 |
|  | Holmen AB, Class B | &nbsp;&nbsp;Paper & Forest Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30117 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Industrivarden AB, Class A | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp; 1003 | &nbsp;&nbsp; 36119 |
|  | Industrivarden AB, Class C | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp; 1394 | &nbsp;&nbsp; 49980 |
|  | Indutrade AB | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 2397 | &nbsp;&nbsp; 64940 |
|  | Investment AB Latour, Class B | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp; 1258 | &nbsp;&nbsp; 32894 |
|  | Investor AB, Class A | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp; 4284 | &nbsp;&nbsp; 125818 |
|  | Investor AB, Class B | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp; 15776 | &nbsp;&nbsp; 463080 |
|  | L E Lundbergforetagen AB, Class B | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp; 646 | &nbsp;&nbsp; 31967 |
|  | Lifco AB, Class B | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp; 1972 | &nbsp;&nbsp; 79208 |
|  | Nibe Industrier AB, Class B | &nbsp;&nbsp;Building Products | &nbsp;&nbsp; 13073 | &nbsp;&nbsp; 55335 |
|  | Saab AB, Class B | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179753 |
|  | Sagax AB, Class B | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43923 |
|  | Sagax AB, Class D | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3585 |
|  | Sandvik AB | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210473 |
|  | Securitas AB, Class B | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64110 |
|  | Skandinaviska Enskilda Banken AB, Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;14127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244729 |
|  | Skandinaviska Enskilda Banken AB, Class C | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400 |
|  | Skanska AB, Class B | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67952 |
|  | SKF AB, Class B | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68544 |
|  | SSAB AB, Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11356 |
|  | SSAB AB, Class B | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32295 |
|  | Svenska Cellulosa AB SCA, Class B | &nbsp;&nbsp;Paper & Forest Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69770 |
|  | Svenska Handelsbanken AB, Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;13039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173002 |
|  | Svenska Handelsbanken AB, Class B | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6714 |
|  | Sweco AB, Class B | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31594 |
|  | Swedbank AB, Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191692 |
| <sup>a</sup> | Swedish Orphan Biovitrum AB | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49866 |
|  | Tele2 AB, Class B | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4794 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69543 |
|  | Telefonaktiebolaget LM Ericsson, Class B | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp;&nbsp;&nbsp;24616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209059 |
|  | Telia Co. AB | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;20723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73865 |
|  | Trelleborg AB, Class B | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67831 |
|  | Volvo AB, Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47413 |
|  | Volvo AB, Class B | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;14110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;392931 |
| <sup>a</sup> | Volvo Car AB, Class B | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5559 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10132 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5469201 |
|  | **Switzerland 14.1%** |  |  |  |
|  | ABB Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;14144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840644 |
|  | Adecco Group AG | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41798 |
|  | Alcon AG | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391303 |
|  | Avolta AG | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43182 |
|  | Bachem Holding AG, Class B | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19819 |
|  | Baloise Holding AG | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87956 |
|  | Banque Cantonale Vaudoise | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29296 |
|  | Barry Callebaut AG | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36905 |
|  | Belimo Holding AG | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86281 |
|  | BKW AG | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40712 |
|  | Chocoladefabriken Lindt & Spruengli AG | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;318656 |
|  | Cie Financiere Richemont SA, Class A | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;893696 |
|  | Clariant AG | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18713 |
|  | Coca-Cola HBC AG | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95707 |
|  | DKSH Holding AG | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24996 |
|  | DSM-Firmenich AG | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172913 |
|  | Emmi AG | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16936 |
|  | EMS-Chemie Holding AG | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51171 |
|  | Flughafen Zurich AG | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48266 |
|  | Galderma Group AG | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179290 |
|  | Geberit AG | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239879 |
|  | Georg Fischer AG | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;697 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56784 |
|  | Givaudan SA | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;332951 |
|  | Helvetia Holding AG | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71541 |
|  | Julius Baer Group Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126014 |
|  | Kuehne & Nagel International AG | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91647 |
|  | Logitech International SA | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120533 |
|  | Lonza Group AG | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;446464 |
|  | Nestle SA | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;22763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2254281 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Novartis AG | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp; 16830 | &nbsp;&nbsp; 2033343 |
|  | Partners Group Holding AG | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp; 194 | &nbsp;&nbsp; 252249 |
|  | PSP Swiss Property AG | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp; 408 | &nbsp;&nbsp; 74885 |
|  | Roche Holding AG | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp; 6341 | &nbsp;&nbsp; 2058435 |
|  | Roche Holding AG | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp; 255 | &nbsp;&nbsp; 88097 |
|  | Sandoz Group AG | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp; 3723 | &nbsp;&nbsp; 203081 |
|  | Schindler Holding AG, PC | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 374 | &nbsp;&nbsp; 138606 |
|  | Schindler Holding AG | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 187 | &nbsp;&nbsp; 67541 |
|  | SGS SA | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp; 1462 | &nbsp;&nbsp; 147853 |
|  | SIG Group AG | &nbsp;&nbsp;Containers & Packaging | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54478 |
|  | Sika AG | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391021 |
|  | Sonova Holding AG | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131267 |
|  | STMicroelectronics NV | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178553 |
|  | Straumann Holding AG | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128267 |
|  | Swatch Group AG | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41357 |
|  | Swatch Group AG | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15385 |
|  | Swiss Life Holding AG | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257114 |
|  | Swiss Prime Site AG | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101487 |
|  | Swiss Re AG | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456937 |
|  | Swisscom AG | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156172 |
|  | Temenos AG | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35148 |
|  | UBS Group AG | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;28696 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;967949 |
| <sup>b</sup> | VAT Group AG | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100074 |
|  | Zurich Insurance Group AG | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1292 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900180 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;16157813 |
|  | **United Kingdom 19.2%** |  |  |  |
|  | 3i Group PLC | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;478936 |
|  | Admiral Group PLC | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101316 |
|  | Ashtead Group PLC | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3859 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246905 |
|  | Associated British Foods PLC | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74312 |
|  | AstraZeneca PLC | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;13498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1871894 |
| <sup>b</sup> | Auto Trader Group PLC | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7871 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88920 |
|  | Aviva PLC | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;24310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206275 |
|  | B&M European Value Retail SA | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31044 |
|  | BAE Systems PLC | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;27064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;699649 |
|  | Barclays PLC | &nbsp;&nbsp;Banks | &nbsp;&nbsp;128316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;593101 |
|  | Barratt Redrow PLC | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;12223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76362 |
|  | Beazley PLC | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71008 |
|  | Berkeley Group Holdings PLC | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44062 |
|  | BP PLC | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;144874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;726017 |
|  | British American Tobacco PLC | &nbsp;&nbsp;Tobacco | &nbsp;&nbsp;&nbsp;&nbsp;17408 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;826100 |
|  | British Land Co. PLC | &nbsp;&nbsp;Diversified REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45772 |
|  | BT Group PLC | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;51119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135724 |
|  | Bunzl PLC | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94581 |
| <sup>a</sup> | Burberry Group PLC | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52593 |
|  | Centrica PLC | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp;&nbsp;&nbsp;45560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100861 |
|  | Coca-Cola Europacific Partners PLC | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176637 |
|  | Compass Group PLC | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;15300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;517240 |
| <sup>b</sup> | ConvaTec Group PLC | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;14688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58048 |
|  | Croda International PLC | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50407 |
|  | Diageo PLC | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;19975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500373 |
|  | Diploma PLC | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80848 |
|  | Endeavour Mining PLC | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47751 |
|  | GSK PLC | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;36380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;692961 |
|  | Haleon PLC | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;81073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415952 |
|  | Halma PLC | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149839 |
|  | Hikma Pharmaceuticals PLC | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39829 |
|  | Howden Joinery Group PLC | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57830 |
|  | HSBC Holdings PLC | &nbsp;&nbsp;Banks | &nbsp;&nbsp;158695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1917629 |
|  | IMI PLC | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65855 |
|  | Imperial Brands PLC | &nbsp;&nbsp;Tobacco | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;274122 |
|  | Informa PLC | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;11917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131591 |
|  | InterContinental Hotels Group PLC | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1309 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148956 |
|  | Intermediate Capital Group PLC | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65126 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | International Consolidated Airlines Group SA | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp; 20519 | &nbsp;&nbsp; 95939 |
|  | Intertek Group PLC | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp; 1445 | &nbsp;&nbsp; 93859 |
|  | J Sainsbury PLC | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp; 15623 | &nbsp;&nbsp; 62043 |
|  | JD Sports Fashion PLC | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp; 22831 | &nbsp;&nbsp; 27764 |
|  | Kingfisher PLC | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp; 15997 | &nbsp;&nbsp; 63748 |
|  | Land Securities Group PLC | &nbsp;&nbsp;Diversified REITs | &nbsp;&nbsp; 6681 | &nbsp;&nbsp; 57770 |
|  | Legal & General Group PLC | &nbsp;&nbsp;Insurance | &nbsp;&nbsp; 51901 | &nbsp;&nbsp; 181078 |
|  | Lloyds Banking Group PLC | &nbsp;&nbsp;Banks | &nbsp;&nbsp;541314 | &nbsp;&nbsp; 568952 |
|  | London Stock Exchange Group PLC | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp; 4539 | &nbsp;&nbsp; 661499 |
|  | M&G PLC | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;21182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74599 |
|  | Marks & Spencer Group PLC | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;18428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89496 |
|  | Melrose Industries PLC | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;11441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83220 |
|  | National Grid PLC | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp;&nbsp;&nbsp;43911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;638741 |
|  | NatWest Group PLC | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;70482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;493935 |
|  | Next PLC | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176779 |
| <sup>a,c</sup> | NMC Health PLC | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Pearson PLC | &nbsp;&nbsp;Diversified Consumer Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88114 |
|  | Persimmon PLC | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51024 |
|  | Phoenix Group Holdings PLC | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60441 |
|  | Prudential PLC | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;23426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;292961 |
|  | Reckitt Benckiser Group PLC | &nbsp;&nbsp;Household Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416707 |
|  | RELX PLC | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;16541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;892398 |
|  | Rentokil Initial PLC | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;22780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109913 |
|  | Rightmove PLC | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77159 |
|  | Rolls-Royce Holdings PLC | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;76466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1013901 |
|  | RS Group PLC | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32790 |
|  | Sage Group PLC | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148862 |
|  | Schroders PLC | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32835 |
|  | Segro PLC | &nbsp;&nbsp;Industrial REITs | &nbsp;&nbsp;&nbsp;&nbsp;12206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113673 |
|  | Severn Trent PLC | &nbsp;&nbsp;Water Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89167 |
|  | Smith & Nephew PLC | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119530 |
|  | Smiths Group PLC | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92611 |
|  | Spirax Group PLC | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54104 |
|  | SSE PLC | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249957 |
|  | St. James's Place PLC | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75852 |
|  | Standard Chartered PLC | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;17068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;282307 |
|  | Taylor Wimpey PLC | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;31909 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51925 |
|  | Tesco PLC | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;58922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;324025 |
|  | Unilever PLC | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;22151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1343191 |
|  | UNITE Group PLC | &nbsp;&nbsp;Residential REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42251 |
|  | United Utilities Group PLC | &nbsp;&nbsp;Water Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95466 |
|  | Vodafone Group PLC | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;175491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187048 |
|  | Weir Group PLC | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79469 |
|  | Whitbread PLC | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61819 |
| <sup>a</sup> | Wise PLC, Class A | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88431 |
|  | WPP PLC | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68067 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;21961846 |
|  | **United States 1.0%** |  |  |  |
| <sup>a</sup> | Amrize Ltd. | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223160 |
|  | Holcim AG, Class B | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;332089 |
| <sup>a</sup> | Qiagen NV | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90562 |
|  | Smurfit WestRock PLC | &nbsp;&nbsp;Containers & Packaging | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201288 |
|  | Stellantis NV | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;19312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192894 |
|  | Tenaris SA | &nbsp;&nbsp;Energy Equipment & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60889 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100882 |
|  | **Total Common Stocks (Cost $102,250,683)** |  |  | &nbsp;&nbsp;113148615 |
|  | **Preferred Stocks 0.4%** |  |  |  |
|  | **Germany 0.4%** |  |  |  |
| <sup>d</sup> | Bayerische Motoren Werke AG, 6.145%, pfd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42086 |
| <sup>d</sup> | FUCHS SE, 2.498%, pfd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30846 |
| <sup>d</sup> | Henkel AG & Co. KGaA, 3.06%, pfd. | &nbsp;&nbsp;Household Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114400 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| <sup>d</sup> | Volkswagen AG, 7.097%, pfd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp; 1853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 194936 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382268 |
|  | **Spain 0.0%<sup>†</sup>** |  |  |  |
| <sup>a</sup> | Grifols SA, Class B, pfd. | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp; 2380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21260 |
|  | **Total Preferred Stocks (Cost $496,634)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;403528 |
|  | **Total Investments before Short-Term Investments (Cost $102,747,317)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113552143 |
|  | **Short-Term Investments 0.0%<sup>†</sup>** |  |  |  |
|  | **Money Market Funds 0.0%<sup>†</sup>** |  |  |  |
|  | **United States 0.0%<sup>†</sup>** |  |  |  |
| <sup>e,f</sup> | Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4196 |
|  | **Total Short-Term Investments (Cost $4,196)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4196 |
|  | **Total Investments (Cost $102,751,513) 99.4%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113556339 |
|  | **Other Assets, less Liabilities 0.6%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;685636 |
|  | **Net Assets 100.0%** |  |  | &nbsp;&nbsp;$114241975 |

---

---

| |
|:---|
| <sup>†</sup>Rounds to less than 0.1% of net assets. |
| <sup>a</sup>Non-income producing. |
| <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional buyers or in a public offering registered under the Securities Act of 1933. At June 30, 2025, the aggregate value of these securities was $2,302,387, representing 2.0% of net assets. |
| <sup>c</sup>Fair valued using significant unobservable inputs. See Note 5 regarding fair value measurements. |
| <sup>d</sup>Variable rate security. The rate shown represents the yield at period end. |
| <sup>e</sup>The rate shown is the annualized seven-day effective yield at period end. |
| <sup>f</sup>See Note 3 regarding investments in affiliated management investment companies. |

---

At June 30, 2025, the Fund had the following futures contracts outstanding.

#### Futures Contracts

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Type** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Notional<br> Amount\*** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value/Unrealized<br> Appreciation<br> (Depreciation)** |
| **Index Contracts** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;EURO STOXX 50 Index | &nbsp;&nbsp;Long | &nbsp;&nbsp;7 | &nbsp;&nbsp;$437717 | &nbsp;&nbsp;9/19/25 | &nbsp;&nbsp;$(1550) |
| &nbsp;&nbsp;&nbsp;&nbsp;FTSE 100 Index | &nbsp;&nbsp;Long | &nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120447 | &nbsp;&nbsp;9/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1331) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Futures Contracts |  |  |  |  | &nbsp;&nbsp;$(2881) |

---

\*As of period end.

#### Abbreviations

---

| | |
|:---|:---|
| **Selected Portfolio** |  |
| **REIT** | Real Estate Investment Trust |
| **SPA** | Standby Purchase Agreement |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Franklin FTSE Eurozone ETF** | &nbsp;&nbsp;**Industry** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
|  | **Common Stocks 99.1%** |  |  |  |
|  | **Austria 0.7%** |  |  |  |
|  | ANDRITZ AG | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 420 | &nbsp;&nbsp;$31109 |
|  | Erste Group Bank AG | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 1806 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 153274 |
|  | OMV AG | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49709 |
|  | Raiffeisen Bank International AG | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24455 |
|  | Telekom Austria AG | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp; 483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5471 |
|  | Verbund AG | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp; 427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32656 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;296674 |
|  | **Belgium 2.5%** |  |  |  |
|  | Ackermans & van Haaren NV | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33878 |
|  | Ageas SA | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1183 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79640 |
|  | Anheuser-Busch InBev SA | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;423521 |
|  | D'ieteren Group | &nbsp;&nbsp;Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28477 |
|  | Elia Group SA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32128 |
|  | Groupe Bruxelles Lambert NV | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42774 |
|  | KBC Group NV | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149822 |
|  | Lotus Bakeries NV | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28771 |
|  | Sofina SA | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29910 |
|  | Syensqo SA | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34435 |
|  | UCB SA | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150900 |
|  | Warehouses De Pauw CVA | &nbsp;&nbsp;Industrial REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27895 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1062151 |
|  | **Finland 3.0%** |  |  |  |
|  | Elisa OYJ | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49517 |
|  | Fortum OYJ | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50660 |
|  | Kesko OYJ, Class B | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41639 |
|  | Kone OYJ, Class B | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131780 |
|  | Metso OYJ | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4452 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57381 |
|  | Neste OYJ | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35592 |
|  | Nokia OYJ | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp;&nbsp;&nbsp;32214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166610 |
|  | Nordea Bank Abp | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;21140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312920 |
|  | Orion OYJ, Class B | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50367 |
|  | Sampo OYJ, Class A | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;15211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163020 |
|  | Stora Enso OYJ, Class R | &nbsp;&nbsp;Paper & Forest Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40170 |
|  | UPM-Kymmene OYJ | &nbsp;&nbsp;Paper & Forest Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90585 |
|  | Valmet OYJ | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28062 |
|  | Wartsila OYJ Abp | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68831 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1287134 |
|  | **France 30.1%** |  |  |  |
|  | Accor SA | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73580 |
|  | Aeroports de Paris SA | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31474 |
|  | Air Liquide SA | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;761292 |
|  | Airbus SE | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3759 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;782160 |
| <sup>a</sup> | Alstom SA | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53039 |
| <sup>b</sup> | Amundi SA | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29919 |
|  | Arkema SA | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28268 |
|  | AXA SA | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;11186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;547155 |
| <sup>b</sup> | Ayvens SA | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14754 |
|  | BioMerieux | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38587 |
|  | BNP Paribas SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;576321 |
|  | Bollore SE | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27417 |
|  | Bouygues SA | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54271 |
|  | Bureau Veritas SA | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71340 |
|  | Capgemini SE | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169245 |
|  | Carrefour SA | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49867 |
|  | Cie de Saint-Gobain SA | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340594 |
|  | Cie Generale des Etablissements Michelin SCA | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164050 |
|  | Covivio SA | &nbsp;&nbsp;Diversified REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22001 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Credit Agricole SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 5964 | &nbsp;&nbsp; 112468 |
|  | Danone SA | &nbsp;&nbsp;Food Products | &nbsp;&nbsp; 4067 | &nbsp;&nbsp; 331128 |
|  | Dassault Aviation SA | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp; 113 | &nbsp;&nbsp; 39820 |
|  | Dassault Systemes SE | &nbsp;&nbsp;Software | &nbsp;&nbsp; 4277 | &nbsp;&nbsp; 154282 |
|  | Edenred SE | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp; 1540 | &nbsp;&nbsp; 47525 |
|  | Eiffage SA | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp; 441 | &nbsp;&nbsp; 61732 |
|  | Engie SA | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp; 11340 | &nbsp;&nbsp; 265231 |
|  | EssilorLuxottica SA | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp; 1855 | &nbsp;&nbsp; 507138 |
|  | Eurazeo SE | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp; 259 | &nbsp;&nbsp; 18409 |
| <sup>b</sup> | FDJ UNITED | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26268 |
|  | Gecina SA | &nbsp;&nbsp;Office REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36032 |
|  | Getlink SE | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42423 |
|  | Hermes International SCA | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;591011 |
|  | Ipsen SA | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26583 |
|  | Kering SA | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;451 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97707 |
|  | Klepierre SA | &nbsp;&nbsp;Retail REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52757 |
|  | Legrand SA | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1631 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217301 |
|  | L'Oreal SA | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;626550 |
|  | LVMH Moet Hennessy Louis Vuitton SE | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;855905 |
|  | Orange SA | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;13384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202905 |
|  | Pernod Ricard SA | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121652 |
|  | Publicis Groupe SA | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163529 |
|  | Renault SA | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54981 |
|  | Rexel SA | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44247 |
|  | Safran SA | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;723191 |
|  | Sanofi SA | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;665382 |
|  | Sartorius Stedim Biotech | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41660 |
|  | Schneider Electric SE | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;923982 |
|  | SCOR SE | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35917 |
|  | SEB SA | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15138 |
|  | Societe Generale SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262498 |
|  | Sodexo SA | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32169 |
|  | Teleperformance SE | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33145 |
|  | Thales SA | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;574 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168178 |
|  | TotalEnergies SE | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;13083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800124 |
| <sup>a</sup> | Unibail-Rodamco-Westfield | &nbsp;&nbsp;Retail REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58672 |
|  | Veolia Environnement SA | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137704 |
|  | Vinci SA | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470796 |
|  | Wendel SE | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16197 |
|  |  |  |  | &nbsp;&nbsp;12917671 |
|  | **Germany 28.0%** |  |  |  |
|  | adidas AG | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248861 |
|  | Allianz SE | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2485 | &nbsp;&nbsp;&nbsp;&nbsp;1003745 |
|  | BASF SE | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;282048 |
|  | Bayer AG | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189257 |
|  | Bayerische Motoren Werke AG | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162453 |
|  | Bechtle AG | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24515 |
|  | Beiersdorf AG | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76206 |
|  | Brenntag SE | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52183 |
|  | Carl Zeiss Meditec AG | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14988 |
|  | Commerzbank AG | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170099 |
|  | Continental AG | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60279 |
| <sup>a</sup> | Covestro AG | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77920 |
|  | CTS Eventim AG & Co. KGaA | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45902 |
|  | Daimler Truck Holding AG | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151834 |
| <sup>a,b</sup> | Delivery Hero SE | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37937 |
|  | Deutsche Bank AG | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;11676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;344977 |
|  | Deutsche Boerse AG | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1183 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;384521 |
|  | Deutsche Lufthansa AG | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32272 |
|  | Deutsche Post AG | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280302 |
|  | Deutsche Telekom AG | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;21161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;769290 |
|  | Deutsche Wohnen SE | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8713 |
| <sup>b</sup> | DWS Group GmbH & Co. KGaA | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11962 |
|  | E.ON SE | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp;&nbsp;&nbsp;14231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261016 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Evonik Industries AG | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 1617 | &nbsp;&nbsp; 33217 |
|  | Fielmann Group AG | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp; 154 | &nbsp;&nbsp; 10250 |
| <sup>a</sup> | Fraport AG Frankfurt Airport Services Worldwide | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp; 231 | &nbsp;&nbsp; 17341 |
|  | Fresenius Medical Care AG | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp; 1358 | &nbsp;&nbsp; 77552 |
|  | Fresenius SE & Co. KGaA | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp; 2660 | &nbsp;&nbsp; 133266 |
|  | FUCHS SE | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 196 | &nbsp;&nbsp; 8099 |
|  | GEA Group AG | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 945 | &nbsp;&nbsp; 65892 |
|  | Hannover Rueck SE | &nbsp;&nbsp;Insurance | &nbsp;&nbsp; 385 | &nbsp;&nbsp; 120756 |
|  | Heidelberg Materials AG | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp; 812 | &nbsp;&nbsp; 190109 |
|  | Henkel AG & Co. KGaA | &nbsp;&nbsp;Household Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44470 |
|  | HOCHTIEF AG | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19246 |
|  | Infineon Technologies AG | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;353435 |
|  | KION Group AG | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25619 |
|  | Knorr-Bremse AG | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41126 |
|  | LEG Immobilien SE | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42102 |
|  | Mercedes-Benz Group AG | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283360 |
|  | Merck KGaA | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106656 |
|  | MTU Aero Engines AG | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151872 |
|  | Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;542910 |
|  | Nemetschek SE | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52556 |
|  | Puma SE | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18095 |
|  | Rational AG | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27581 |
|  | Rheinmetall AG | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;575868 |
|  | RWE AG | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177878 |
|  | SAP SE | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6608 | &nbsp;&nbsp;&nbsp;&nbsp;2002417 |
| <sup>b</sup> | Scout24 SE | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62543 |
|  | Siemens AG | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4718 | &nbsp;&nbsp;&nbsp;&nbsp;1205394 |
| <sup>a</sup> | Siemens Energy AG | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;469754 |
| <sup>b</sup> | Siemens Healthineers AG | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105566 |
|  | Symrise AG | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;861 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90092 |
|  | Talanx AG | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49667 |
|  | Traton SE | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13116 |
|  | Volkswagen AG | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19591 |
|  | Vonovia SE | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157538 |
|  | Wacker Chemie AG | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7642 |
| <sup>a,b</sup> | Zalando SE | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1519 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49837 |
|  |  |  |  | &nbsp;&nbsp;12043693 |
|  | **Ireland 1.0%** |  |  |  |
|  | AIB Group PLC | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;13111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107502 |
|  | Bank of Ireland Group PLC | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89967 |
|  | Glanbia PLC | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16639 |
|  | Kerry Group PLC, Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116321 |
|  | Kingspan Group PLC | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83057 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;413486 |
|  | **Italy 9.2%** |  |  |  |
|  | A2A SpA | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp;&nbsp;&nbsp;10150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27225 |
|  | Amplifon SpA | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18342 |
|  | Banca Mediolanum SpA | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23906 |
|  | Banca Monte dei Paschi di Siena SpA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47652 |
|  | Banco BPM SpA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109953 |
|  | BPER Banca SpA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57632 |
|  | Brunello Cucinelli SpA | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26288 |
|  | Buzzi SpA | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;511 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28228 |
|  | Davide Campari-Milano NV | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24116 |
|  | DiaSorin SpA | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14932 |
|  | Enel SpA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;49875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;471644 |
|  | Eni SpA | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;13209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213354 |
|  | Ferrari NV | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;372679 |
|  | FinecoBank Banca Fineco SpA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86514 |
|  | Generali | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220680 |
|  | Hera SpA | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23763 |
| <sup>b</sup> | Infrastrutture Wireless Italiane SpA | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2079 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25332 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Interpump Group SpA | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 469 | &nbsp;&nbsp; 19456 |
|  | Intesa Sanpaolo SpA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;100828 | &nbsp;&nbsp; 578943 |
|  | Italgas SpA | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp; 3680 | &nbsp;&nbsp; 31102 |
|  | Leonardo SpA | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp; 2583 | &nbsp;&nbsp; 144871 |
|  | Mediobanca Banca di Credito Finanziario SpA | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 3633 | &nbsp;&nbsp; 84162 |
|  | Moncler SpA | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp; 1442 | &nbsp;&nbsp; 81909 |
| <sup>b</sup> | Nexi SpA | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp; 3178 | &nbsp;&nbsp; 18929 |
| <sup>b</sup> | Pirelli & C SpA | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp; 2457 | &nbsp;&nbsp; 16884 |
| <sup>b</sup> | Poste Italiane SpA | &nbsp;&nbsp;Insurance | &nbsp;&nbsp; 2898 | &nbsp;&nbsp; 62049 |
|  | Prysmian SpA | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129256 |
|  | Recordati Industria Chimica e Farmaceutica SpA | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43440 |
|  | Reply SpA | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25297 |
|  | Snam SpA | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp;13230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79855 |
| <sup>a</sup> | Telecom Italia SpA | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;70385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34585 |
| <sup>a</sup> | Telecom Italia SpA | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;28161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15319 |
|  | Terna - Rete Elettrica Nazionale | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91992 |
|  | UniCredit SpA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;10024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;669641 |
|  | Unipol Assicurazioni SpA | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2408 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47558 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;3967488 |
|  | **Luxembourg 0.4%** |  |  |  |
|  | ArcelorMittal SA | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85666 |
| <sup>b</sup> | CVC Capital Partners PLC | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27848 |
|  | Eurofins Scientific SE | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51153 |
|  | RTL Group SA | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10379 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175046 |
|  | **Netherlands 13.3%** |  |  |  |
|  | Aalberts NV | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22748 |
| <sup>b</sup> | ABN AMRO Bank NV | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89943 |
| <sup>a,b</sup> | Adyen NV | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312815 |
|  | Aegon Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8337 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60167 |
|  | Akzo Nobel NV | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75653 |
| <sup>a</sup> | Argenx SE | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216178 |
|  | ASM International NV | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191999 |
|  | ASML Holding NV | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2527 | &nbsp;&nbsp;&nbsp;&nbsp;2009977 |
|  | ASR Nederland NV | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62542 |
|  | BE Semiconductor Industries NV | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67858 |
| <sup>b</sup> | CTP NV | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17298 |
| <sup>b</sup> | Euronext NV | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95382 |
|  | EXOR NV | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59786 |
|  | Ferrovial SE | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161032 |
|  | Heineken Holding NV | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54051 |
|  | Heineken NV | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154487 |
|  | IMCD NV | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49669 |
|  | ING Groep NV | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;19621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;428996 |
|  | JDE Peet's NV | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28283 |
|  | Koninklijke Ahold Delhaize NV | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243863 |
|  | Koninklijke KPN NV | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;24297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117963 |
|  | Koninklijke Philips NV | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125445 |
|  | Koninklijke Vopak NV | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18040 |
|  | NN Group NV | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110337 |
|  | Prosus NV | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;457539 |
|  | Randstad NV | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32210 |
|  | Universal Music Group NV | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195318 |
|  | Wolters Kluwer NV | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250775 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;5710354 |
|  | **Poland 0.0%<sup>†</sup>** |  |  |  |
| <sup>a</sup> | InPost SA | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25026 |
|  | **Portugal 0.5%** |  |  |  |
|  | Banco Comercial Portugues SA, Class R | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;58730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45542 |
|  | EDP SA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;19173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82868 |
|  | Galp Energia SGPS SA, Class B | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47977 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Jeronimo Martins SGPS SA | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp; 1771 | &nbsp;&nbsp; 44654 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221041 |
|  | **Russia 0.0%** |  |  |  |
| <sup>a,c</sup> | Evraz PLC | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 1168 | &nbsp;&nbsp;&nbsp; — |
|  | **Spain 9.2%** |  |  |  |
|  | Acciona SA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp; 154 | &nbsp;&nbsp; 27622 |
|  | ACS Actividades de Construccion y Servicios SA | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp; 1141 | &nbsp;&nbsp; 78955 |
| <sup>b</sup> | Aena SME SA | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp; 4452 | &nbsp;&nbsp; 118421 |
|  | Amadeus IT Group SA | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp; 2800 | &nbsp;&nbsp; 234939 |
|  | Banco Bilbao Vizcaya Argentaria SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;36428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;558245 |
|  | Banco de Sabadell SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;34587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109742 |
|  | Banco Santander SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;97048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800514 |
|  | Bankinter SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52077 |
|  | CaixaBank SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;23429 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202251 |
| <sup>a,b</sup> | Cellnex Telecom SA | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139977 |
|  | Corp. ACCIONA Energias Renovables SA | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8214 |
|  | EDP Renovaveis SA | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22344 |
|  | Endesa SA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63856 |
| <sup>a</sup> | Grifols SA | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22622 |
|  | Iberdrola SA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;40544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775283 |
|  | Industria de Diseno Textil SA | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;368833 |
|  | Mapfre SA | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24093 |
|  | Merlin Properties Socimi SA | &nbsp;&nbsp;Diversified REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2408 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31460 |
|  | Naturgy Energy Group SA | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19523 |
|  | Redeia Corp. SA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55777 |
|  | Repsol SA | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107593 |
|  | Telefonica SA | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;26285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137550 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;3959891 |
|  | **Switzerland 0.6%** |  |  |  |
|  | DSM-Firmenich AG | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123858 |
|  | STMicroelectronics NV | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126372 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250230 |
|  | **United Kingdom 0.0%** |  |  |  |
| <sup>a,c</sup> | NMC Health PLC | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | **United States 0.6%** |  |  |  |
| <sup>a</sup> | Qiagen NV | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66182 |
|  | Stellantis NV | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;13804 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137878 |
|  | Tenaris SA | &nbsp;&nbsp;Energy Equipment & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43712 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247772 |
|  | **Total Common Stocks (Cost $36,865,240)** |  |  | &nbsp;&nbsp;42577657 |
|  | **Preferred Stocks 0.7%** |  |  |  |
|  | **Germany 0.7%** |  |  |  |
| <sup>d</sup> | Bayerische Motoren Werke AG, 6.145%, pfd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30038 |
| <sup>d</sup> | FUCHS SE, 2.498%, pfd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23478 |
| <sup>d</sup> | Henkel AG & Co. KGaA, 3.06%, pfd. | &nbsp;&nbsp;Household Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82709 |
| <sup>d</sup> | Volkswagen AG, 7.097%, pfd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139916 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276141 |
|  | **Spain 0.0%<sup>†</sup>** |  |  |  |
| <sup>a</sup> | Grifols SA, Class B, pfd. | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14695 |
|  | **Total Preferred Stocks (Cost $327,427)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290836 |
|  | **Total Investments before Short-Term Investments (Cost $37,192,667)** |  |  | &nbsp;&nbsp;42868493 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Short-Term Investments 0.0%<sup>†</sup>** |  |  |
|  | **Money Market Funds 0.0%<sup>†</sup>** |  |  |
|  | **United States 0.0%<sup>†</sup>** |  |  |
| <sup>e,f</sup> | Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 241 |
|  | **Total Short-Term Investments (Cost $241)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241 |
|  | **Total Investments (Cost $37,192,908) 99.8%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42868734 |
|  | **Other Assets, less Liabilities 0.2%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91139 |
|  | **Net Assets 100.0%** |  | &nbsp;&nbsp;$42959873 |

---

---

| |
|:---|
| <sup>†</sup>Rounds to less than 0.1% of net assets. |
| <sup>a</sup>Non-income producing. |
| <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional buyers or in a public offering registered under the Securities Act of 1933. At June 30, 2025, the aggregate value of these securities was $1,263,664, representing 2.9% of net assets. |
| <sup>c</sup>Fair valued using significant unobservable inputs. See Note 5 regarding fair value measurements. |
| <sup>d</sup>Variable rate security. The rate shown represents the yield at period end. |
| <sup>e</sup>The rate shown is the annualized seven-day effective yield at period end. |
| <sup>f</sup>See Note 3 regarding investments in affiliated management investment companies. |

---

At June 30, 2025, the Fund had the following futures contracts outstanding.

#### Futures Contracts

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Type** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Notional<br> Amount\*** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value/Unrealized<br> Appreciation<br> (Depreciation)** |
| **Index Contracts** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;EURO STOXX 50 Index | &nbsp;&nbsp;Long | &nbsp;&nbsp;1 | &nbsp;&nbsp;$62531 | &nbsp;&nbsp;9/19/25 | &nbsp;&nbsp;$(383) |

---

\*As of period end.

#### Abbreviations

---

| | |
|:---|:---|
| **Selected Portfolio** |  |
| **REIT** | Real Estate Investment Trust |
| **SPA** | Standby Purchase Agreement |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Franklin FTSE Germany ETF** | &nbsp;&nbsp;**Industry** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
|  | **Common Stocks 97.6%** |  |  |  |
|  | **Germany 97.0%** |  |  |  |
|  | adidas AG | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp; 5472 | &nbsp;&nbsp;$1271493 |
|  | Allianz SE | &nbsp;&nbsp;Insurance | &nbsp;&nbsp; 12654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5111224 |
|  | BASF SE | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 29222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1435891 |
|  | Bayer AG | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp; 32186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 964751 |
|  | Bayerische Motoren Werke AG | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp; 9348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 828033 |
|  | Bechtle AG | &nbsp;&nbsp;IT Services | &nbsp;&nbsp; 2698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125985 |
|  | Beiersdorf AG | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3078 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385157 |
|  | Brenntag SE | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265729 |
|  | Carl Zeiss Meditec AG | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76277 |
|  | Commerzbank AG | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;27436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;862470 |
|  | Continental AG | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;307395 |
| <sup>a</sup> | Covestro AG | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;401439 |
|  | CTS Eventim AG & Co. KGaA | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230374 |
|  | Daimler Truck Holding AG | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;16340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;770489 |
| <sup>a,b</sup> | Delivery Hero SE | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193651 |
|  | Deutsche Bank AG | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;59432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1755965 |
|  | Deutsche Boerse AG | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1951534 |
|  | Deutsche Lufthansa AG | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp;&nbsp;&nbsp;19608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165261 |
|  | Deutsche Post AG | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;31008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1427194 |
|  | Deutsche Telekom AG | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;107730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3916429 |
|  | Deutsche Wohnen SE | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44075 |
| <sup>b</sup> | DWS Group GmbH & Co. KGaA | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58220 |
|  | E.ON SE | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp;&nbsp;&nbsp;72656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1332613 |
|  | Evonik Industries AG | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167831 |
|  | Fielmann Group AG | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50584 |
| <sup>a</sup> | Fraport AG Frankfurt Airport Services Worldwide | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88430 |
|  | Fresenius Medical Care AG | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;392787 |
|  | Fresenius SE & Co. KGaA | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;13490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675848 |
|  | FUCHS SE | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40824 |
|  | GEA Group AG | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;333851 |
|  | Hannover Rueck SE | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;619777 |
|  | Heidelberg Materials AG | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;969743 |
|  | Henkel AG & Co. KGaA | &nbsp;&nbsp;Household Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227693 |
|  | HOCHTIEF AG | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97014 |
|  | Infineon Technologies AG | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;42560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1804270 |
|  | KION Group AG | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128539 |
|  | Knorr-Bremse AG | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208617 |
|  | LEG Immobilien SE | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215109 |
|  | Mercedes-Benz Group AG | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;24738 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1442932 |
|  | Merck KGaA | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;544643 |
|  | MTU Aero Engines AG | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;773972 |
|  | Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2765610 |
|  | Nemetschek SE | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268842 |
|  | Puma SE | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89956 |
|  | Rational AG | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141247 |
|  | Rheinmetall AG | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2951061 |
|  | RWE AG | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;21774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;905569 |
|  | SAP SE | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;33630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10190873 |
| <sup>b</sup> | Scout24 SE | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;318627 |
|  | Siemens AG | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;24016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6135808 |
| <sup>a</sup> | Siemens Energy AG | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;20786 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2392628 |
| <sup>b</sup> | Siemens Healthineers AG | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535289 |
|  | Symrise AG | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;453287 |
|  | Talanx AG | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254916 |
|  | Traton SE | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66289 |
|  | Volkswagen AG | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98169 |
|  | Vonovia SE | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;22952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;805841 |
|  | Wacker Chemie AG | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41484 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| <sup>a,b</sup> | Zalando SE | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp; 7638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250596 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61330205 |
|  | **Luxembourg 0.1%** |  |  |  |
|  | RTL Group SA | &nbsp;&nbsp;Media | &nbsp;&nbsp; 1216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 53028 |
|  | **United States 0.5%** |  |  |  |
| <sup>a</sup> | Qiagen NV | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp; 6954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 333742 |
|  | **Total Common Stocks (Cost $53,106,943)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61716975 |
|  | **Preferred Stocks 2.2%** |  |  |  |
|  | **Germany 2.2%** |  |  |  |
| <sup>c</sup> | Bayerische Motoren Werke AG, 6.145%, pfd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150519 |
| <sup>c</sup> | FUCHS SE, 2.498%, pfd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117004 |
| <sup>c</sup> | Henkel AG & Co. KGaA, 3.06%, pfd. | &nbsp;&nbsp;Household Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416284 |
| <sup>c</sup> | Volkswagen AG, 7.097%, pfd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;711575 |
|  | **Total Preferred Stocks (Cost $1,644,300)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1395382 |
|  | **Total Investments before Short-Term Investments (Cost $54,751,243)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63112357 |
|  | **Short-Term Investments 0.0%<sup>†</sup>** |  |  |  |
|  | **Money Market Funds 0.0%<sup>†</sup>** |  |  |  |
|  | **United States 0.0%<sup>†</sup>** |  |  |  |
| <sup>d,e</sup> | Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3575 |
|  | **Total Short-Term Investments (Cost $3,575)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3575 |
|  | **Total Investments (Cost $54,754,818) 99.8%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63115932 |
|  | **Other Assets, less Liabilities 0.2%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125312 |
|  | **Net Assets 100.0%** |  |  | &nbsp;&nbsp;$63241244 |

---

---

| |
|:---|
| <sup>†</sup>Rounds to less than 0.1% of net assets. |
| <sup>a</sup>Non-income producing. |
| <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional buyers or in a public offering registered under the Securities Act of 1933. At June 30, 2025, the aggregate value of these securities was $1,356,383, representing 2.1% of net assets. |
| <sup>c</sup>Variable rate security. The rate shown represents the yield at period end. |
| <sup>d</sup>The rate shown is the annualized seven-day effective yield at period end. |
| <sup>e</sup>See Note 3 regarding investments in affiliated management investment companies. |

---

At June 30, 2025, the Fund had the following futures contracts outstanding.

#### Futures Contracts

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Type** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Notional<br> Amount\*** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value/Unrealized<br> Appreciation<br> (Depreciation)** |
| **Index Contracts** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Micro DAX | &nbsp;&nbsp;Long | &nbsp;&nbsp;4 | &nbsp;&nbsp;$112920 | &nbsp;&nbsp;9/19/25 | &nbsp;&nbsp;$1495 |

---

\*As of period end.

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Franklin FTSE Hong Kong ETF** | &nbsp;&nbsp;**Industry** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
|  | **Short-Term Investments 0.0%<sup>†</sup>** |  |  |  |
|  | **Money Market Funds 0.0%<sup>†</sup>** |  |  |  |
|  | **United States 0.0%<sup>†</sup>** |  |  |  |
| <sup>a,b</sup> | Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;29 | &nbsp;&nbsp;$29 |
|  | **Total Short-Term Investments (Cost $29)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29 |
|  | **Total Investments (Cost $29) 0.0%<sup>†</sup>** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29 |
|  | **Other Assets, less Liabilities 100.0%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13464723 |
|  | **Net Assets 100.0%** |  |  | &nbsp;&nbsp;$13464752 |

---

---

| |
|:---|
| <sup>†</sup>Rounds to less than 0.1% of net assets. |
| <sup>a</sup>The rate shown is the annualized seven-day effective yield at period end. |
| <sup>b</sup>See Note 3 regarding investments in affiliated management investment companies. |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Franklin FTSE India ETF** | &nbsp;&nbsp;**Industry** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
|  | **Common Stocks 100.9%** |  |  |  |
|  | **India 100.9%** |  |  |  |
|  | 360 ONE WAM Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp; 306832 | &nbsp;&nbsp;$4273680 |
|  | 3M India Ltd. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp; 3624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1204338 |
|  | Aarti Industries Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 266204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1488241 |
|  | ABB India Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp; 70064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4967632 |
|  | ACC Ltd. | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp; 107512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2403475 |
| <sup>a</sup> | Adani Energy Solutions Ltd. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp; 382936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3937195 |
|  | Adani Enterprises Ltd. | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343072 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10478577 |
| <sup>a</sup> | Adani Green Energy Ltd. | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;352736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4218354 |
|  | Adani Ports & Special Economic Zone Ltd. | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;971232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16423515 |
| <sup>a</sup> | Adani Power Ltd. | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;1378328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9414128 |
|  | Adani Total Gas Ltd. | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;293544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2312994 |
| <sup>a</sup> | Aditya Birla Capital Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;834728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2692231 |
|  | AIA Engineering Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1538501 |
|  | Ajanta Pharma Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1667882 |
|  | Alkem Laboratories Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2991504 |
|  | Ambuja Cements Ltd. | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;1058208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7125259 |
|  | Apar Industries Ltd. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2334140 |
|  | APL Apollo Tubes Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4727854 |
|  | Apollo Hospitals Enterprise Ltd. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11119037 |
|  | Ashok Leyland Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;1868776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5467521 |
|  | Asian Paints Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;578632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15795655 |
|  | Astral Ltd. | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2795205 |
| <sup>b</sup> | AU Small Finance Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4594548 |
| <sup>a</sup> | Aurobindo Pharma Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4795377 |
| <sup>a,b</sup> | Avenue Supermarts Ltd. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9853990 |
| <sup>a</sup> | AWL Agri Business Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;434880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1318179 |
|  | Axis Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;3022416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42263074 |
|  | Bajaj Auto Ltd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8612747 |
|  | Bajaj Finance Ltd. | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp;&nbsp;&nbsp;3708560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40497510 |
|  | Bajaj Finserv Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;507360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12163388 |
|  | Bajaj Holdings & Investment Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5873661 |
| <sup>a</sup> | Bajaj Housing Finance Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;1243032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1766132 |
|  | Balkrishna Industries Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3065521 |
| <sup>b</sup> | Bandhan Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;1054192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2331121 |
|  | Bank of Baroda | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;1365040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3959826 |
|  | Bank of India | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;1214040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1678365 |
|  | Bank of Maharashtra | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;2057224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1369963 |
|  | Bata India Ltd. | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1204112 |
|  | Bayer CropScience Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1275634 |
|  | Berger Paints India Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;318912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2203862 |
| <sup>c</sup> | Bharat Dynamics Ltd. | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2737157 |
|  | Bharat Electronics Ltd. | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;4712408 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23160914 |
|  | Bharat Forge Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5196037 |
|  | Bharat Heavy Electricals Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;1693616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5258978 |
|  | Bharat Petroleum Corp. Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;2603240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10076324 |
|  | Bharti Airtel Ltd. | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3985819 |
|  | Bharti Airtel Ltd. | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;3526152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82627741 |
|  | Bharti Hexacom Ltd. | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2255441 |
|  | Biocon Ltd. | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;601584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2495143 |
|  | Blue Star Ltd. | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3179350 |
|  | Bosch Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11501 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4382611 |
|  | Britannia Industries Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10714098 |
|  | BSE Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8545190 |
|  | Canara Bank | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;2405128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3202724 |
|  | Castrol India Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;640240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1655322 |
| <sup>a</sup> | Central Bank of India Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;1133104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;524008 |
| <sup>c</sup> | Central Depository Services India Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135296 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2830236 |
|  | CG Power & Industrial Solutions Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;848016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6745267 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Cholamandalam Investment & Finance Co. Ltd. | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp; 550848 | &nbsp;&nbsp; 10456863 |
|  | Cipla Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp; 735672 | &nbsp;&nbsp; 12918009 |
|  | Coal India Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 3005504 | &nbsp;&nbsp; 13736092 |
| <sup>b</sup> | Cochin Shipyard Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 106304 | &nbsp;&nbsp; 2560667 |
|  | Coforge Ltd. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp; 420384 | &nbsp;&nbsp; 9433640 |
|  | Colgate-Palmolive India Ltd. | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp; 176368 | &nbsp;&nbsp; 4950273 |
|  | Container Corp. of India Ltd. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp; 363608 | &nbsp;&nbsp; 3221424 |
|  | Coromandel International Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 155832 | &nbsp;&nbsp; 4552126 |
|  | CRISIL Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp; 25368 | &nbsp;&nbsp; 1789012 |
|  | Cummins India Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7086734 |
|  | Dabur India Ltd. | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4388163 |
|  | Dalmia Bharat Ltd. | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2518765 |
|  | Deepak Nitrite Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2161921 |
|  | Divi's Laboratories Ltd. | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13332518 |
| <sup>c</sup> | Dixon Technologies India Ltd. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7597723 |
|  | DLF Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;837144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8178163 |
| <sup>b</sup> | Dr. Lal PathLabs Ltd. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1536139 |
|  | Dr. Reddy's Laboratories Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;793656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11876151 |
|  | Eicher Motors Ltd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11632761 |
|  | Emami Ltd. | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1674703 |
|  | Embassy Office Parks REIT | &nbsp;&nbsp;Office REITs | &nbsp;&nbsp;&nbsp;&nbsp;1160888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5272457 |
| <sup>b</sup> | Endurance Technologies Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1365670 |
|  | Escorts Kubota Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41072 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1597000 |
| <sup>a</sup> | Eternal Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;5966312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18376881 |
|  | Exide Industries Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2490570 |
|  | Federal Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;2390632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5940899 |
|  | Fortis Healthcare Ltd. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;647488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5998475 |
| <sup>a</sup> | FSN E-Commerce Ventures Ltd. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;1503960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3654504 |
|  | GAIL India Ltd. | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp;3537024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7870868 |
|  | GE Vernova T&D India Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4489834 |
| <sup>b</sup> | General Insurance Corp. of India | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;412341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1851832 |
|  | GlaxoSmithKline Pharmaceuticals Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2195312 |
|  | Glenmark Pharmaceuticals Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3829075 |
| <sup>a</sup> | GMR Airports Ltd. | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;3442800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3419918 |
|  | Godrej Consumer Products Ltd. | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;514608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7071060 |
| <sup>a</sup> | Godrej Industries Ltd. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1246316 |
| <sup>a</sup> | Godrej Properties Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5082691 |
|  | Grasim Industries Ltd. | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15505974 |
|  | Gujarat Fluorochemicals Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1994569 |
|  | Gujarat Gas Ltd. | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1464661 |
|  | Havells India Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5440281 |
|  | HCL Technologies Ltd. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;1387992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27976714 |
| <sup>b</sup> | HDFC Asset Management Co. Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7971253 |
|  | HDFC Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;7460608 | &nbsp;&nbsp;&nbsp;&nbsp;174118551 |
| <sup>b</sup> | HDFC Life Insurance Co. Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;1243032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11802716 |
|  | Hero MotoCorp Ltd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8474990 |
|  | Hindalco Industries Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;1906224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15400272 |
| <sup>c</sup> | Hindustan Aeronautics Ltd. | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14267787 |
|  | Hindustan Petroleum Corp. Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;1249072 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6380084 |
|  | Hindustan Unilever Ltd. | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;1169344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31287042 |
|  | Hindustan Zinc Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;490448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2578340 |
|  | Hitachi Energy India Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3663595 |
|  | Honeywell Automation India Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1303267 |
|  | Housing & Urban Development Corp. Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;655944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1817002 |
| <sup>a</sup> | Hyundai Motor India Ltd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4752477 |
|  | ICICI Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;6943584 | &nbsp;&nbsp;&nbsp;&nbsp;117059629 |
| <sup>b</sup> | ICICI Lombard General Insurance Co. Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7500590 |
| <sup>b</sup> | ICICI Prudential Life Insurance Co. Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3697558 |
|  | IDBI Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;765872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;923672 |
| <sup>a</sup> | IDFC First Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;4728112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4015808 |
|  | Indian Bank | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;356360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2673739 |
|  | Indian Hotels Co. Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;1110152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9841984 |
|  | Indian Oil Corp. Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;4996288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8561736 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Indian Railway Catering & Tourism Corp. Ltd. | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp; 398640 | &nbsp;&nbsp; 3632663 |
| <sup>b</sup> | Indian Railway Finance Corp. Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp; 2367680 | &nbsp;&nbsp; 3912635 |
| <sup>a</sup> | Indian Renewable Energy Development Agency Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp; 887880 | &nbsp;&nbsp; 1761369 |
|  | Indraprastha Gas Ltd. | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp; 928952 | &nbsp;&nbsp; 2359967 |
| <sup>a</sup> | Indus Towers Ltd. | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp; 1745560 | &nbsp;&nbsp; 8571074 |
| <sup>a</sup> | IndusInd Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 146168 | &nbsp;&nbsp; 1486394 |
|  | Info Edge India Ltd. | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp; 459040 | &nbsp;&nbsp; 7966292 |
|  | Infosys Ltd. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp; 4643552 | &nbsp;&nbsp; 86730895 |
| <sup>a,b</sup> | InterGlobe Aviation Ltd. | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp; 248848 | &nbsp;&nbsp; 17341885 |
|  | Ipca Laboratories Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2916895 |
|  | IRB Infrastructure Developers Ltd. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;2612904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1511499 |
| <sup>a</sup> | ITC Hotels Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;1275648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3307968 |
|  | ITC Ltd. | &nbsp;&nbsp;Tobacco | &nbsp;&nbsp;&nbsp;&nbsp;3974320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19299272 |
|  | Jindal Stainless Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3247735 |
|  | Jindal Steel & Power Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;489240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5372170 |
| <sup>a</sup> | Jio Financial Services Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;4128944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15731488 |
|  | JSW Energy Ltd. | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4294857 |
|  | JSW Infrastructure Ltd. | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1156929 |
|  | JSW Steel Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;1151224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13698975 |
|  | Jubilant Foodworks Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3944286 |
|  | Kalyan Jewellers India Ltd. | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;513400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3327582 |
|  | Kansai Nerolac Paints Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;274836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;808068 |
| <sup>a</sup> | Kaynes Technology India Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2489739 |
|  | KEI Industries Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3525844 |
|  | Kotak Mahindra Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;1442352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36386760 |
|  | KPIT Technologies Ltd. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195696 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2872231 |
|  | L&T Finance Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;1070288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2571012 |
| <sup>b</sup> | L&T Technology Services Ltd. | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1804471 |
|  | Larsen & Toubro Ltd. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;889088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38045419 |
| <sup>b</sup> | Laurus Labs Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4084043 |
|  | LIC Housing Finance Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2745858 |
|  | Linde India Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1968712 |
|  | Lloyds Metals & Energy Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2417144 |
| <sup>b</sup> | LTIMindtree Ltd. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7590923 |
|  | Lupin Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;318912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7206757 |
| <sup>b</sup> | Macrotech Developers Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;364816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5888273 |
|  | Mahindra & Mahindra Financial Services Ltd. | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;873803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2750503 |
|  | Mahindra & Mahindra Ltd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;1222496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45376041 |
|  | Mangalore Refinery & Petrochemicals Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269897 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;451077 |
| <sup>a</sup> | Mankind Pharma Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4051860 |
|  | Marico Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;694600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5850563 |
|  | Maruti Suzuki India Ltd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25151642 |
| <sup>a</sup> | Max Financial Services Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;344280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6612215 |
|  | Max Healthcare Institute Ltd. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14594488 |
|  | Mazagon Dock Shipbuilders Ltd. | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3838685 |
|  | Metro Brands Ltd. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;842479 |
|  | Motilal Oswal Financial Services Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1936348 |
|  | Mphasis Ltd. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4809575 |
|  | MRF Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4852125 |
|  | Muthoot Finance Ltd. | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4361255 |
|  | National Aluminium Co. Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;1181424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2654622 |
|  | Nestle India Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;473536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13612504 |
| <sup>b</sup> | New India Assurance Co. Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;298376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;669676 |
|  | NHPC Ltd. | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;3971904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3974220 |
| <sup>b</sup> | Nippon Life India Asset Management Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2084832 |
|  | NLC India Ltd. | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;451792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1213085 |
|  | NMDC Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;4591608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3747814 |
| <sup>a</sup> | NTPC Green Energy Ltd. | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;1159680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1415659 |
|  | NTPC Ltd. | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;6274352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24501871 |
|  | Oberoi Realty Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3435768 |
|  | Oil & Natural Gas Corp. Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;5109840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14550770 |
|  | Oil India Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;722384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3657827 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| <sup>a</sup> | One 97 Communications Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp; 404680 | &nbsp;&nbsp; 4360125 |
|  | Oracle Financial Services Software Ltd. | &nbsp;&nbsp;Software | &nbsp;&nbsp; 30500 | &nbsp;&nbsp; 3195814 |
|  | Page Industries Ltd. | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp; 7643 | &nbsp;&nbsp; 4403459 |
|  | Patanjali Foods Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp; 144960 | &nbsp;&nbsp; 2790007 |
| <sup>a</sup> | PB Fintech Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp; 410720 | &nbsp;&nbsp; 8734984 |
|  | Persistent Systems Ltd. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp; 136504 | &nbsp;&nbsp; 9616242 |
|  | Petronet LNG Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 995704 | &nbsp;&nbsp; 3505166 |
|  | Phoenix Mills Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp; 250571 | &nbsp;&nbsp; 4562928 |
|  | PI Industries Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 107512 | &nbsp;&nbsp; 5145808 |
|  | Pidilite Industries Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7357058 |
|  | Piramal Enterprises Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2030742 |
|  | Polycab India Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4890639 |
| <sup>a</sup> | Poonawalla Fincorp Ltd. | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343072 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1864374 |
|  | Power Finance Corp. Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;1925552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9596326 |
|  | Power Grid Corp. of India Ltd. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;5933696 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20749947 |
| <sup>b</sup> | Premier Energies Ltd. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1449807 |
|  | Prestige Estates Projects Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3992139 |
|  | Punjab National Bank | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;3036912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3912999 |
| <sup>c</sup> | Rail Vikas Nigam Ltd. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;751376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3484401 |
| <sup>b</sup> | RBL Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;584672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1694022 |
|  | REC Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;1653752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7759676 |
|  | Relaxo Footwears Ltd. | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;496257 |
|  | Reliance Industries Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;8968192 | &nbsp;&nbsp;&nbsp;&nbsp;156922445 |
|  | Samvardhana Motherson International Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;3857144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6963638 |
|  | SBI Cards & Payment Services Ltd. | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4336338 |
| <sup>b</sup> | SBI Life Insurance Co. Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;566552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12144269 |
|  | Schaeffler India Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2508420 |
|  | Shree Cement Ltd. | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4682360 |
|  | Shriram Finance Ltd. | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp;&nbsp;&nbsp;1640464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13521012 |
|  | Siemens Ltd. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4488405 |
|  | SJVN Ltd. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;933784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1094605 |
|  | Solar Industries India Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6692821 |
| <sup>b</sup> | Sona Blw Precision Forgings Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;581048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3261281 |
|  | SRF Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7078484 |
| <sup>a</sup> | Star Health & Allied Insurance Co. Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1476611 |
|  | State Bank of India | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;2355600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22532841 |
|  | Steel Authority of India Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;1913472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2944953 |
|  | Sun Pharmaceutical Industries Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;1404904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27450999 |
|  | Sun TV Network Ltd. | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;792322 |
|  | Sundaram Finance Ltd. | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5392602 |
|  | Supreme Industries Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4082527 |
| <sup>a</sup> | Suzlon Energy Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;14347416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11329373 |
| <sup>a</sup> | Swiggy Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2312385 |
| <sup>b</sup> | Syngene International Ltd. | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1772888 |
|  | Tata Communications Ltd. | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2976686 |
|  | Tata Consultancy Services Ltd. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;1346920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54373100 |
|  | Tata Consumer Products Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;855264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10959067 |
|  | Tata Elxsi Ltd. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3342843 |
|  | Tata Motors Ltd., Class A | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;2711960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21756396 |
|  | Tata Power Co. Ltd. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;2213056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10462728 |
|  | Tata Steel Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;10913072 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20329669 |
|  | Tata Technologies Ltd. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200528 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1662493 |
| <sup>a</sup> | Tata Teleservices Maharashtra Ltd. | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;688121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530293 |
|  | Tech Mahindra Ltd. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;816608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16063639 |
|  | Thermax Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1541237 |
| <sup>a</sup> | Titan Co. Ltd. | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;489240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21051696 |
|  | Torrent Pharmaceuticals Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5616853 |
|  | Torrent Power Ltd. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4299849 |
|  | Trent Ltd. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17428140 |
|  | Tube Investments of India Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5123760 |
|  | TVS Motor Co. Ltd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10522221 |
|  | UltraTech Cement Ltd. | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22144178 |
|  | Union Bank of India Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;2024608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3626164 |
|  | United Breweries Ltd. | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2088696 |
|  | United Spirits Ltd. | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6416992 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | UNO Minda Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp; 234352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3017665 |
|  | UPL Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 733256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5653749 |
|  | Varun Beverages Ltd. | &nbsp;&nbsp;Beverages | &nbsp;&nbsp; 1763680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9409652 |
|  | Vedant Fashions Ltd. | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp; 80936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 765617 |
|  | Vedanta Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 2112792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11353547 |
| <sup>a</sup> | Vishal Mega Mart Ltd. | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp; 2615320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4085828 |
| <sup>a</sup> | Vodafone Idea Ltd. | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;34338608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2974998 |
|  | Voltas Ltd. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp; 303208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4646054 |
| <sup>a</sup> | WAAREE Energies Ltd. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 103888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3803008 |
|  | Whirlpool of India Ltd. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1283092 |
|  | Wipro Ltd. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;3730304 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11569336 |
| <sup>a</sup> | Yes Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;24388312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5784262 |
|  | Zee Entertainment Enterprises Ltd. | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;1183840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2018850 |
|  | Zydus Lifesciences Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3862560 |
|  | **Total Common Stocks (Cost $2,080,748,645)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2420500793 |
|  | **Total Investments before Short-Term Investments (Cost $2,080,748,645)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2420500793 |
|  | **Short-Term Investments 0.0%<sup>†</sup>** |  |  |  |
|  | **Money Market Funds 0.0%<sup>†</sup>** |  |  |  |
|  | **United States 0.0%<sup>†</sup>** |  |  |  |
| <sup>d,e</sup> | Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26483 |
|  | **Total Short-Term Investments (Cost $26,483)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26483 |
|  | **Total Investments (Cost $2,080,775,128) 100.9%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2420527276 |
|  | **Other Assets, less Liabilities (0.9)%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20778878) |
|  | **Net Assets 100.0%** |  |  | &nbsp;&nbsp;$2399748398 |

---

---

| |
|:---|
| <sup>†</sup>Rounds to less than 0.1% of net assets. |
| <sup>a</sup>Non-income producing. |
| <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional buyers or in a public offering registered under the Securities Act of 1933. At June 30, 2025, the aggregate value of these securities was $118,765,089, representing 4.9% of net assets. |
| <sup>c</sup>Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption from registration. At June 30, 2025, the aggregate value of these securities was $30,917,304, representing 1.3% of net assets. |
| <sup>d</sup>The rate shown is the annualized seven-day effective yield at period end. |
| <sup>e</sup>See Note 3 regarding investments in affiliated management investment companies. |

---

At June 30, 2025, the Fund had the following futures contracts outstanding.

#### Futures Contracts

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Type** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Notional<br> Amount\*** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value/Unrealized<br> Appreciation<br> (Depreciation)** |
| **Index Contracts** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;IFSC Nifty 50 | &nbsp;&nbsp;Long | &nbsp;&nbsp;526 | &nbsp;&nbsp;$26932252 | &nbsp;&nbsp;7/31/25 | &nbsp;&nbsp;$284531 |

---

\*As of period end.

#### Abbreviations

---

| | |
|:---|:---|
| **Selected Portfolio** |  |
| **REIT** | Real Estate Investment Trust |
| **SRF** | State Revolving Fund |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Franklin FTSE Japan ETF** | &nbsp;&nbsp;**Industry** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
|  | **Common Stocks 99.2%** |  |  |  |
|  | **Japan 99.2%** |  |  |  |
|  | ABC-Mart, Inc. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp; 33600 | &nbsp;&nbsp;$689004 |
|  | Acom Co. Ltd. | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp; 168000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 496748 |
|  | Activia Properties, Inc. | &nbsp;&nbsp;Diversified REITs | &nbsp;&nbsp; 896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 761115 |
|  | Advance Residence Investment Corp. | &nbsp;&nbsp;Residential REITs | &nbsp;&nbsp; 1120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1159971 |
|  | Advantest Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 324800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23958905 |
|  | Aeon Co. Ltd. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp; 336000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10281560 |
|  | AEON Financial Service Co. Ltd. | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;398391 |
| <sup>a,b</sup> | Aeon Mall Co. Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;668301 |
|  | AEON REIT Investment Corp. | &nbsp;&nbsp;Retail REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;688229 |
|  | AGC, Inc. | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2294277 |
|  | Aica Kogyo Co. Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;557965 |
|  | Air Water, Inc. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1168578 |
|  | Aisin Corp. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2864260 |
|  | Ajinomoto Co., Inc. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11517674 |
|  | Alfresa Holdings Corp. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1070065 |
|  | Alps Alpine Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;722268 |
|  | Amada Co. Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1465937 |
|  | Amano Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1043043 |
|  | ANA Holdings, Inc. | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1313109 |
|  | Aozora Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;670550 |
|  | As One Corp. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386295 |
|  | Asahi Group Holdings Ltd. | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;649600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8668379 |
|  | Asahi Intecc Co. Ltd. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1416467 |
|  | Asahi Kasei Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;548800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3901953 |
|  | Asics Corp. | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;291200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7418851 |
|  | Astellas Pharma, Inc. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;795200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7798129 |
|  | Azbil Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2018318 |
|  | Bandai Namco Holdings, Inc. | &nbsp;&nbsp;Leisure Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8820897 |
|  | BayCurrent, Inc. | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2876666 |
|  | Bic Camera, Inc. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;512992 |
|  | BIPROGY, Inc. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1401735 |
|  | Bridgestone Corp. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10064454 |
|  | Brother Industries Ltd. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1738328 |
|  | Calbee, Inc. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;638527 |
|  | Canon Marketing Japan, Inc. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;820509 |
|  | Canon, Inc. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;392000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11368258 |
|  | Capcom Co. Ltd. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4972445 |
|  | Casio Computer Co. Ltd. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;682336 |
|  | Central Japan Railway Co. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8520514 |
|  | Chiba Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;291200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2690342 |
|  | Chubu Electric Power Co., Inc. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3728578 |
|  | Chugai Pharmaceutical Co. Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14586867 |
|  | Chugin Financial Group, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;812522 |
|  | Chugoku Electric Power Co., Inc. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;663417 |
|  | Coca-Cola Bottlers Japan Holdings, Inc. | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;901575 |
|  | COMSYS Holdings Corp. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1035290 |
|  | Concordia Financial Group Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3052088 |
|  | Cosmo Energy Holdings Co. Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1039157 |
|  | Cosmos Pharmaceutical Corp. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1062364 |
|  | Credit Saison Co. Ltd. | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1511994 |
|  | CyberAgent, Inc. | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2047008 |
|  | Dai Nippon Printing Co. Ltd. | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2716937 |
|  | Daicel Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;844042 |
|  | Daido Steel Co. Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;463228 |
|  | Daifuku Co. Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4040359 |
|  | Dai-ichi Life Holdings, Inc. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;1545600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11727492 |
|  | Daiichi Sankyo Co. Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;817600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19046862 |
|  | Daikin Industries Ltd. | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14403684 |
|  | Daito Trust Construction Co. Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2710366 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Daiwa House Industry Co. Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp; 257600 | &nbsp;&nbsp; 8834853 |
|  | Daiwa House REIT Investment Corp. | &nbsp;&nbsp;Diversified REITs | &nbsp;&nbsp; 896 | &nbsp;&nbsp; 1510443 |
|  | Daiwa Office Investment Corp. | &nbsp;&nbsp;Office REITs | &nbsp;&nbsp; 224 | &nbsp;&nbsp; 495469 |
|  | Daiwa Securities Group, Inc. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp; 593600 | &nbsp;&nbsp; 4210206 |
|  | Daiwa Securities Living Investments Corp. | &nbsp;&nbsp;Residential REITs | &nbsp;&nbsp; 896 | &nbsp;&nbsp; 593012 |
|  | Denka Co. Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 33600 | &nbsp;&nbsp; 460577 |
|  | Denso Corp. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp; 817600 | &nbsp;&nbsp; 11040388 |
| <sup>c</sup> | Dentsu Group, Inc. | &nbsp;&nbsp;Media | &nbsp;&nbsp; 89600 | &nbsp;&nbsp; 1982496 |
|  | Dentsu Soken, Inc. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp; 11200 | &nbsp;&nbsp; 521056 |
|  | Dexerials Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1038624 |
|  | DIC Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;674698 |
|  | Disco Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11410302 |
|  | DMG Mori Co. Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1286746 |
|  | Dowa Holdings Co. Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;724517 |
|  | East Japan Railway Co. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;459200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9880533 |
|  | Ebara Corp. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3877218 |
|  | Eisai Co. Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3537911 |
|  | Electric Power Development Co. Ltd. | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1333036 |
|  | ENEOS Holdings, Inc. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;1153600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5711097 |
|  | EXEO Group, Inc. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;996520 |
|  | Ezaki Glico Co. Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;714902 |
|  | FANUC Corp. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;414400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11303513 |
|  | Fast Retailing Co. Ltd. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26877829 |
|  | Food & Life Cos. Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2175721 |
|  | FP Corp. | &nbsp;&nbsp;Containers & Packaging | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;411573 |
|  | Frontier Real Estate Investment Corp. | &nbsp;&nbsp;Retail REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;636588 |
|  | Fuji Electric Co. Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2579695 |
|  | Fuji Media Holdings, Inc. | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516249 |
|  | Fuji Oil Co. Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438091 |
|  | FUJIFILM Holdings Corp. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;526400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11450371 |
|  | Fujikura Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6457456 |
|  | Fujitec Co. Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1441745 |
|  | Fujitsu Ltd. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;761600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18533172 |
|  | Fukuoka Financial Group, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2093453 |
|  | Furukawa Electric Co. Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1090652 |
|  | Fuyo General Lease Co. Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;604798 |
|  | GLP J-Reit | &nbsp;&nbsp;Industrial REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1709639 |
|  | GMO internet group, Inc. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;559360 |
|  | GMO Payment Gateway, Inc. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1144627 |
|  | Goldwin, Inc. | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;858650 |
|  | GS Yuasa Corp. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;836172 |
|  | Gunma Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1220179 |
|  | Hachijuni Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1452755 |
|  | Hakuhodo DY Holdings, Inc. | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;834272 |
|  | Hamamatsu Photonics KK | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1497727 |
|  | Hankyu Hanshin Holdings, Inc. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2735546 |
|  | Harmonic Drive Systems, Inc. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;434214 |
|  | Haseko Corp. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1677538 |
|  | Heiwa Corp. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325660 |
|  | Hikari Tsushin, Inc. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2265820 |
| <sup>a</sup> | Hino Motors Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278362 |
|  | Hirogin Holdings, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;935886 |
|  | Hirose Electric Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1353816 |
|  | Hisamitsu Pharmaceutical Co., Inc. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;636433 |
|  | Hitachi Construction Machinery Co. Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000242 |
|  | Hitachi Ltd. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;1948800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56732348 |
|  | Honda Motor Co. Ltd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;1848000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17840950 |
|  | Horiba Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1316830 |
|  | Hoshizaki Corp. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1798243 |
|  | House Foods Group, Inc. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;434601 |
|  | Hoya Corp. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17712601 |
|  | Hulic Co. Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2027235 |
|  | Ibiden Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2460674 |
|  | Idemitsu Kosan Co. Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2103223 |
|  | IHI Corp. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6063484 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Iida Group Holdings Co. Ltd. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp; 67200 | &nbsp;&nbsp; 945578 |
|  | Industrial & Infrastructure Fund Investment Corp. | &nbsp;&nbsp;Industrial REITs | &nbsp;&nbsp; 1008 | &nbsp;&nbsp; 847880 |
|  | INFRONEER Holdings, Inc. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp; 78400 | &nbsp;&nbsp; 657020 |
|  | Inpex Corp. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 369600 | &nbsp;&nbsp; 5181488 |
|  | Internet Initiative Japan, Inc. | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp; 56000 | &nbsp;&nbsp; 1102205 |
|  | Invincible Investment Corp. | &nbsp;&nbsp;Hotel & Resort REITs | &nbsp;&nbsp; 3248 | &nbsp;&nbsp; 1394136 |
|  | Isetan Mitsukoshi Holdings Ltd. | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp; 145600 | &nbsp;&nbsp; 2216583 |
|  | Isuzu Motors Ltd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp; 235200 | &nbsp;&nbsp; 2980606 |
|  | Ito En Ltd. | &nbsp;&nbsp;Beverages | &nbsp;&nbsp; 22400 | &nbsp;&nbsp; 506479 |
|  | ITOCHU Corp. | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;515200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26950405 |
|  | Itoham Yonekyu Holdings, Inc. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;379937 |
|  | Iwatani Corp. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;949998 |
|  | Iyogin Holdings, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1104337 |
|  | Izumi Co. Ltd. | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516249 |
|  | J Front Retailing Co. Ltd. | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1369867 |
|  | Japan Airlines Co. Ltd. | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1368471 |
|  | Japan Airport Terminal Co. Ltd. | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1071190 |
|  | Japan Exchange Group, Inc. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;459200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4643024 |
|  | Japan Hotel REIT Investment Corp. | &nbsp;&nbsp;Hotel & Resort REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1121124 |
|  | Japan Logistics Fund, Inc. | &nbsp;&nbsp;Industrial REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;724982 |
|  | Japan Metropolitan Fund Invest | &nbsp;&nbsp;Retail REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2056312 |
|  | Japan Post Bank Co. Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;795200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8560601 |
|  | Japan Post Holdings Co. Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;761600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7041551 |
|  | Japan Post Insurance Co. Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1769964 |
|  | Japan Prime Realty Investment Corp. | &nbsp;&nbsp;Office REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1148805 |
|  | Japan Real Estate Investment Corp. | &nbsp;&nbsp;Office REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2376855 |
|  | Japan Steel Works Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1923954 |
|  | Japan Tobacco, Inc. | &nbsp;&nbsp;Tobacco | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14163431 |
|  | Jeol Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;682956 |
|  | JFE Holdings, Inc. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3120756 |
|  | JGC Holdings Corp. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;871955 |
|  | JMDC, Inc. | &nbsp;&nbsp;Health Care Technology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;308912 |
|  | JTEKT Corp. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;736923 |
|  | Justsystems Corp. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286504 |
|  | Kadokawa Corp. | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1241541 |
|  | Kagome Co. Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;667720 |
|  | Kajima Corp. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4960194 |
|  | Kakaku.com, Inc. | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1038236 |
|  | Kamigumi Co. Ltd. | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;932086 |
|  | Kandenko Co. Ltd. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1033739 |
|  | Kaneka Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;617204 |
|  | Kansai Electric Power Co., Inc. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;425600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5035483 |
|  | Kansai Paint Co. Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;766659 |
|  | Kao Corp. | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9011951 |
|  | Kawasaki Heavy Industries Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5070996 |
|  | Kawasaki Kisen Kaisha Ltd. | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2377320 |
|  | KDDI Corp. | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;1276800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21921590 |
|  | KDX Realty Investment Corp. | &nbsp;&nbsp;Diversified REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1815556 |
|  | Keihan Holdings Co. Ltd. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;947206 |
|  | Keikyu Corp. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1049208 |
|  | Keio Corp. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1087395 |
|  | Keisei Electric Railway Co. Ltd. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1781478 |
|  | Kewpie Corp. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1045525 |
|  | Keyence Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33190377 |
|  | Kikkoman Corp. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;324800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3008636 |
|  | Kinden Corp. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1315357 |
|  | Kintetsu Group Holdings Co. Ltd. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1481754 |
| <sup>a,c</sup> | Kioxia Holdings Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;582234 |
|  | Kirin Holdings Co. Ltd. | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4854238 |
|  | Kobayashi Pharmaceutical Co. Ltd. | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;835580 |
|  | Kobe Bussan Co. Ltd. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1736079 |
|  | Kobe Steel Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1586586 |
|  | Koei Tecmo Holdings Co. Ltd. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;730720 |
|  | Koito Manufacturing Co. Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;936002 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Kokusai Electric Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 67200 | &nbsp;&nbsp; 1612949 |
|  | Kokuyo Co. Ltd. | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp; 134400 | &nbsp;&nbsp; 769303 |
|  | Komatsu Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 414400 | &nbsp;&nbsp; 13590036 |
|  | Konami Group Corp. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp; 42500 | &nbsp;&nbsp; 6712849 |
| <sup>a</sup> | Konica Minolta, Inc. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp; 212800 | &nbsp;&nbsp; 691237 |
|  | Kose Corp. | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp; 14680 | &nbsp;&nbsp; 575533 |
|  | Kotobuki Spirits Co. Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp; 44800 | &nbsp;&nbsp; 638139 |
|  | K's Holdings Corp. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp; 56000 | &nbsp;&nbsp; 567967 |
|  | Kubota Corp. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 436800 | &nbsp;&nbsp; 4904909 |
|  | Kuraray Co. Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1707390 |
|  | Kurita Water Industries Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1767250 |
|  | Kusuri No. Aoki Holdings Co. Ltd. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;563082 |
|  | Kyocera Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;593600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7123858 |
|  | Kyoto Financial Group, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1801832 |
|  | Kyowa Kirin Co. Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1720533 |
|  | Kyudenko Corp. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925961 |
|  | Kyushu Electric Power Co., Inc. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1697117 |
|  | Kyushu Financial Group, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;846949 |
|  | Kyushu Railway Co. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1733443 |
|  | LaSalle Logiport REIT | &nbsp;&nbsp;Industrial REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;754989 |
|  | Lasertec Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4515047 |
|  | Lion Corp. | &nbsp;&nbsp;Household Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1155319 |
|  | Lixil Corp. | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1422670 |
|  | LY Corp. | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;1176000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4318255 |
|  | M3, Inc. | &nbsp;&nbsp;Health Care Technology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2463232 |
|  | Mabuchi Motor Co. Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;660625 |
|  | Macnica Holdings, Inc. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;752508 |
|  | Makita Corp. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3452774 |
|  | Marubeni Corp. | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;649600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13100383 |
|  | Marui Group Co. Ltd. | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1426392 |
|  | Maruichi Steel Tube Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540441 |
|  | Maruwa Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;944456 |
|  | Matsui Securities Co. Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215866 |
|  | MatsukiyoCocokara & Co. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3221323 |
|  | Mazda Motor Corp. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1550469 |
|  | McDonald's Holdings Co. Japan Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1386382 |
|  | Mebuki Financial Group, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;403200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2102184 |
|  | Medipal Holdings Corp. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1449653 |
|  | MEIJI Holdings Co. Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2471141 |
| <sup>a</sup> | Mercari, Inc. | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;829348 |
|  | Minebea Mitsumi, Inc. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2461643 |
|  | MISUMI Group, Inc. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1646988 |
|  | Mitsubishi Chemical Group Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;582400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3056244 |
|  | Mitsubishi Corp. | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;1433600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28663068 |
|  | Mitsubishi Electric Corp. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;884800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19056477 |
|  | Mitsubishi Estate Co. Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;492800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9221769 |
|  | Mitsubishi Gas Chemical Co., Inc. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1202501 |
|  | Mitsubishi HC Capital, Inc. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2631335 |
|  | Mitsubishi Heavy Industries Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;1422400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35548922 |
|  | Mitsubishi Logistics Corp. | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100267 |
|  | Mitsubishi Materials Corp. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;884129 |
|  | Mitsubishi Motors Corp. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;791858 |
|  | Mitsubishi UFJ Financial Group, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;4916800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67499840 |
|  | Mitsui & Co. Ltd. | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;1120000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22850497 |
|  | Mitsui Chemicals, Inc. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1810128 |
|  | Mitsui Fudosan Co. Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;1153600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11141071 |
|  | Mitsui Fudosan Logistics Park, Inc. | &nbsp;&nbsp;Industrial REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;972329 |
|  | Mitsui Mining & Smelting Co. Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;781430 |
|  | Mitsui OSK Lines Ltd. | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4858541 |
|  | Miura Co. Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900373 |
|  | Mizuho Financial Group, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;1086400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30032159 |
| <sup>a</sup> | Money Forward, Inc. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;760649 |
|  | MonotaRO Co. Ltd. | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2205961 |
|  | Mori Hills REIT Investment Corp., Class C | &nbsp;&nbsp;Office REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;622476 |
|  | Morinaga & Co. Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;552459 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Morinaga Milk Industry Co. Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp; 33600 | &nbsp;&nbsp; 752973 |
|  | MS&AD Insurance Group Holdings, Inc. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp; 548800 | &nbsp;&nbsp; 12271965 |
|  | Murata Manufacturing Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp; 739200 | &nbsp;&nbsp; 11023135 |
|  | Nabtesco Corp. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 44800 | &nbsp;&nbsp; 800659 |
|  | Nagase & Co. Ltd. | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp; 44800 | &nbsp;&nbsp; 862069 |
|  | Nagoya Railroad Co. Ltd. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp; 89600 | &nbsp;&nbsp; 1011408 |
|  | Nankai Electric Railway Co. Ltd. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp; 44800 | &nbsp;&nbsp; 676133 |
|  | NEC Corp. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp; 548800 | &nbsp;&nbsp; 16029542 |
|  | Nexon Co. Ltd. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp; 179200 | &nbsp;&nbsp; 3610177 |
|  | NGK Insulators Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1405379 |
|  | NH Foods Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1548282 |
|  | NHK Spring Co. Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;731573 |
|  | Nichias Corp. | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;856642 |
|  | Nichirei Corp. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023116 |
|  | NIDEC Corp. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;414400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8047298 |
|  | Nifco, Inc. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;795542 |
|  | Nihon Kohden Corp. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;798333 |
|  | Nihon M&A Center Holdings, Inc. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;623826 |
|  | Nikon Corp. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1262321 |
|  | Nintendo Co. Ltd. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;446100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42866614 |
|  | Nippon Accommodations Fund, Inc. | &nbsp;&nbsp;Residential REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;821362 |
|  | Nippon Building Fund, Inc. | &nbsp;&nbsp;Office REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3194495 |
|  | Nippon Electric Glass Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;796937 |
|  | Nippon Express Holdings, Inc. | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1794233 |
|  | Nippon Kayaku Co. Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;602472 |
|  | Nippon Paint Holdings Co. Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;414400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3327938 |
|  | Nippon Prologis REIT, Inc. | &nbsp;&nbsp;Industrial REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1604730 |
|  | Nippon Sanso Holdings Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3388728 |
|  | Nippon Shinyaku Co. Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;487870 |
|  | Nippon Shokubai Co. Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;637364 |
|  | Nippon Steel Corp. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;436800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8264560 |
|  | Nippon Telegraph & Telephone Corp. | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;12230400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13039438 |
|  | Nippon Television Holdings, Inc. | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;518885 |
|  | Nippon Yusen KK | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6436288 |
|  | Nipro Corp. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;593865 |
|  | Nissan Chemical Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1706227 |
| <sup>a</sup> | Nissan Motor Co. Ltd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;884800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2145155 |
|  | Nisshin Seifun Group, Inc. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1202035 |
|  | Nissin Foods Holdings Co. Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1858125 |
|  | Niterra Co. Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2233099 |
|  | Nitori Holdings Co. Ltd. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3237994 |
|  | Nitto Denko Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5844090 |
|  | NOF Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1715454 |
|  | NOK Corp. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;494771 |
|  | Nomura Holdings, Inc. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;1288000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8488878 |
|  | Nomura Real Estate Holdings, Inc. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1308534 |
|  | Nomura Real Estate Master Fund, Inc. | &nbsp;&nbsp;Diversified REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1826179 |
|  | Nomura Research Institute Ltd. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7174451 |
|  | NS Solutions Corp. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;948602 |
|  | NSK Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;789145 |
|  | NTT Data Group Corp. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3100751 |
|  | Obayashi Corp. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;291200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4405951 |
|  | OBIC Business Consultants Co. Ltd. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;661943 |
|  | Obic Co. Ltd. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5606533 |
|  | Odakyu Electric Railway Co. Ltd. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1438023 |
|  | Oji Holdings Corp. | &nbsp;&nbsp;Paper & Forest Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1744593 |
|  | OKUMA Corp. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;569130 |
|  | Olympus Corp. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5718052 |
|  | Omron Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2415469 |
|  | Ono Pharmaceutical Co. Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1934112 |
|  | Open House Group Co. Ltd. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1515949 |
|  | Oracle Corp. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1739380 |
|  | Organo Corp. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;697843 |
|  | Oriental Land Co. Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10824948 |
|  | ORIX Corp. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;504000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11374849 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Orix JREIT, Inc. | &nbsp;&nbsp;Office REITs | &nbsp;&nbsp; 1120 | &nbsp;&nbsp; 1456167 |
|  | Osaka Gas Co. Ltd. | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp; 156800 | &nbsp;&nbsp; 4008878 |
|  | Otsuka Corp. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp; 100800 | &nbsp;&nbsp; 2049217 |
|  | Otsuka Holdings Co. Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp; 190400 | &nbsp;&nbsp; 9426082 |
|  | PALTAC Corp. | &nbsp;&nbsp;Distributors | &nbsp;&nbsp; 11200 | &nbsp;&nbsp; 313099 |
|  | Pan Pacific International Holdings Corp. | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp; 168000 | &nbsp;&nbsp; 5767676 |
|  | Panasonic Holdings Corp. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp; 996800 | &nbsp;&nbsp; 10734345 |
|  | Park24 Co. Ltd. | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp; 56000 | &nbsp;&nbsp; 717228 |
| <sup>a</sup> | PeptiDream, Inc. | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp; 44800 | &nbsp;&nbsp; 510201 |
|  | Persol Holdings Co. Ltd. | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;784000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1527890 |
|  | Pola Orbis Holdings, Inc. | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297747 |
|  | Rakus Co. Ltd. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;538851 |
| <sup>a</sup> | Rakuten Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2051660 |
| <sup>a</sup> | Rakuten Group, Inc. | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;627200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3458078 |
|  | Recruit Holdings Co. Ltd. | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;604800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35736564 |
|  | Relo Group, Inc. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;529896 |
|  | Renesas Electronics Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;716800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8877810 |
|  | Rengo Co. Ltd. | &nbsp;&nbsp;Containers & Packaging | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545295 |
|  | Resona Holdings, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;985600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9088713 |
|  | Resonac Holdings Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1817727 |
|  | Resorttrust, Inc. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;955813 |
|  | Ricoh Co. Ltd. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2329324 |
|  | Rinnai Corp. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1110036 |
|  | Rohm Co. Ltd. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1851689 |
|  | Rohto Pharmaceutical Co. Ltd. | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1268524 |
|  | Rorze Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;636743 |
|  | Ryohin Keikaku Co. Ltd. | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4832566 |
|  | Sankyo Co. Ltd. | &nbsp;&nbsp;Leisure Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1448103 |
|  | Sankyu, Inc. | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1199050 |
|  | Sanrio Co. Ltd. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3782001 |
|  | Santen Pharmaceutical Co. Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1666218 |
|  | Sanwa Holdings Corp. | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2599312 |
|  | Sapporo Holdings Ltd. | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1726697 |
|  | Sawai Group Holdings Co. Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;568510 |
|  | SBI Holdings, Inc. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4290187 |
|  | SBI Sumishin Net Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;757548 |
|  | SCREEN Holdings Co. Ltd. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3187481 |
|  | SCSK Corp. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022816 |
|  | Secom Co. Ltd. | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6430085 |
|  | Sega Sammy Holdings, Inc. | &nbsp;&nbsp;Leisure Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1607366 |
|  | Seibu Holdings, Inc. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2803935 |
|  | Seiko Epson Corp. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1631636 |
|  | Seino Holdings Co. Ltd. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;686988 |
|  | Sekisui Chemical Co. Ltd. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3037945 |
|  | Sekisui House Ltd. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5923295 |
|  | Sekisui House Reit, Inc. | &nbsp;&nbsp;Diversified REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;882772 |
|  | Seven & i Holdings Co. Ltd. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;1008000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16210904 |
|  | Seven Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;448636 |
|  | SG Holdings Co. Ltd. | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1993041 |
| <sup>a</sup> | Sharp Corp. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;543853 |
| <sup>a</sup> | SHIFT, Inc. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;813220 |
|  | Shikoku Electric Power Co., Inc. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;655391 |
|  | Shimadzu Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2769663 |
|  | Shimamura Co. Ltd. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1569372 |
|  | Shimano, Inc. | &nbsp;&nbsp;Leisure Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4944287 |
|  | Shimizu Corp. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2498280 |
|  | Shin-Etsu Chemical Co. Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;862400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28490933 |
|  | Shionogi & Co. Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;336000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6034020 |
|  | Ship Healthcare Holdings, Inc. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;451388 |
|  | Shiseido Co. Ltd. | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3192711 |
|  | Shizuoka Financial Group, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2081745 |
|  | SHO-BOND Holdings Co. Ltd. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365205 |
|  | Skylark Holdings Co. Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2105394 |
|  | SMC Corp. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8845845 |
|  | Socionext, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1506722 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | SoftBank Corp. | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;12555200 | &nbsp;&nbsp; 19383223 |
|  | SoftBank Group Corp. | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp; 432800 | &nbsp;&nbsp; 31506054 |
|  | Sohgo Security Services Co. Ltd. | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp; 145600 | &nbsp;&nbsp; 1016564 |
|  | Sojitz Corp. | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp; 89600 | &nbsp;&nbsp; 2198982 |
|  | Sompo Holdings, Inc. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp; 392000 | &nbsp;&nbsp; 11791616 |
|  | Sony Group Corp. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp; 2665600 | &nbsp;&nbsp; 68833729 |
|  | Sotetsu Holdings, Inc. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp; 33600 | &nbsp;&nbsp; 527802 |
|  | Square Enix Holdings Co. Ltd. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp; 44800 | &nbsp;&nbsp; 3348098 |
|  | Stanley Electric Co. Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp; 44800 | &nbsp;&nbsp; 885021 |
|  | Subaru Corp. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4486087 |
|  | Sugi Holdings Co. Ltd. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1021953 |
|  | SUMCO Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1232081 |
|  | Sumitomo Bakelite Co. Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;646513 |
|  | Sumitomo Chemical Co. Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;660800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1594301 |
|  | Sumitomo Corp. | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;448000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11565592 |
|  | Sumitomo Electric Industries Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;336000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7199418 |
|  | Sumitomo Forestry Co. Ltd. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2035609 |
|  | Sumitomo Heavy Industries Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1148534 |
|  | Sumitomo Metal Mining Co. Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2760359 |
|  | Sumitomo Mitsui Financial Group, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;1635200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41138958 |
|  | Sumitomo Mitsui Trust Group, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;291200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7739394 |
|  | Sumitomo Realty & Development Co. Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5611514 |
|  | Sumitomo Rubber Industries Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;890409 |
|  | Sundrug Co. Ltd. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;890906 |
|  | Suntory Beverage & Food Ltd. | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1787255 |
|  | Suzuken Co. Ltd. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;807638 |
|  | Suzuki Motor Corp. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;772800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9325282 |
|  | Sysmex Corp. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3508757 |
|  | T&D Holdings, Inc. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4670124 |
|  | Taiheiyo Cement Corp. | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1111587 |
|  | Taisei Corp. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3907923 |
|  | Taiyo Yuden Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;982796 |
|  | Takara Holdings, Inc. | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650235 |
|  | Takasago Thermal Engineering Co. Ltd. | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1099026 |
|  | Takashimaya Co. Ltd. | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;962520 |
|  | Takeda Pharmaceutical Co. Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;694400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21272595 |
|  | TBS Holdings, Inc. | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;392343 |
|  | TDK Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9859947 |
|  | TechnoPro Holdings, Inc. | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1304812 |
|  | Teijin Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;633952 |
|  | Terumo Corp. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;638400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11712140 |
|  | THK Co. Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1196259 |
|  | TIS, Inc. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3001037 |
|  | Tobu Railway Co. Ltd. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1544870 |
|  | Toda Corp. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;639085 |
|  | Toei Animation Co. Ltd. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;509426 |
|  | Toho Co. Ltd. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2639399 |
|  | Toho Gas Co. Ltd. | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;934412 |
|  | Tohoku Electric Power Co., Inc. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1547623 |
|  | Tokai Carbon Co. Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;631781 |
|  | Tokio Marine Holdings, Inc. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;817600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34590007 |
|  | Tokyo Century Corp. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;756230 |
| <sup>a</sup> | Tokyo Electric Power Co. Holdings, Inc. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;660800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2196338 |
|  | Tokyo Electron Ltd. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37588039 |
|  | Tokyo Gas Co. Ltd. | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5201880 |
|  | Tokyo Metro Co. Ltd. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1560843 |
|  | Tokyo Ohka Kogyo Co. Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1302641 |
|  | Tokyo Seimitsu Co. Ltd. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1118062 |
|  | Tokyo Tatemono Co. Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1592014 |
|  | Tokyu Corp. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2525108 |
|  | Tokyu Fudosan Holdings Corp. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1834204 |
|  | Tomy Co. Ltd. | &nbsp;&nbsp;Leisure Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;757160 |
|  | TOPPAN Holdings, Inc. | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2739036 |
|  | Toray Industries, Inc. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;649600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4442347 |
|  | Toridoll Holdings Corp. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;646668 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Tosoh Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 123200 | &nbsp;&nbsp; 1799661 |
|  | TOTO Ltd. | &nbsp;&nbsp;Building Products | &nbsp;&nbsp; 56000 | &nbsp;&nbsp; 1409644 |
|  | Toyo Seikan Group Holdings Ltd. | &nbsp;&nbsp;Containers & Packaging | &nbsp;&nbsp; 56000 | &nbsp;&nbsp; 1094451 |
|  | Toyo Suisan Kaisha Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp; 39600 | &nbsp;&nbsp; 2627754 |
|  | Toyo Tire Corp. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp; 56000 | &nbsp;&nbsp; 1184008 |
|  | Toyoda Gosei Co. Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp; 33600 | &nbsp;&nbsp; 660858 |
|  | Toyota Boshoku Corp. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp; 33600 | &nbsp;&nbsp; 457553 |
|  | Toyota Industries Corp. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 74139 | &nbsp;&nbsp; 8366269 |
|  | Toyota Motor Corp. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp; 4704000 | &nbsp;&nbsp; 81187109 |
|  | Toyota Tsusho Corp. | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6843751 |
|  | Trend Micro, Inc. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3867991 |
|  | TS Tech Co. Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;393467 |
|  | Tsumura & Co. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;808568 |
|  | Tsuruha Holdings, Inc. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1219431 |
|  | UBE Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;701565 |
|  | Ulvac, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;822835 |
|  | Unicharm Corp. | &nbsp;&nbsp;Household Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;526400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3791888 |
|  | United Urban Investment Corp. | &nbsp;&nbsp;Diversified REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1443140 |
|  | Ushio, Inc. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416845 |
|  | USS Co. Ltd. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1847541 |
|  | Welcia Holdings Co. Ltd. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;787633 |
|  | West Japan Railway Co. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4608558 |
|  | Workman Co. Ltd. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;489266 |
|  | Yakult Honsha Co. Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1892900 |
|  | Yamada Holdings Co. Ltd. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;773257 |
|  | Yamaguchi Financial Group, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;842917 |
|  | Yamaha Corp. | &nbsp;&nbsp;Leisure Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1050836 |
| <sup>c</sup> | Yamaha Motor Co. Ltd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;403200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3013288 |
|  | Yamato Holdings Co. Ltd. | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1646135 |
|  | Yamato Kogyo Co. Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;922028 |
|  | Yamazaki Baking Co. Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1251854 |
|  | Yaoko Co. Ltd. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;737233 |
|  | Yaskawa Electric Corp. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2534723 |
|  | Yokogawa Electric Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2989096 |
|  | Yokohama Rubber Co. Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1539908 |
|  | Zenkoku Hosho Co. Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1002724 |
|  | Zensho Holdings Co. Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2710114 |
|  | Zeon Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;567773 |
|  | ZOZO, Inc. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1931631 |
|  | **Total Common Stocks (Cost $1,908,687,149)** |  |  | &nbsp;&nbsp;2146878480 |
|  | **Total Investments before Short-Term Investments (Cost $1,908,687,149)** |  |  | &nbsp;&nbsp;2146878480 |
|  | **Short-Term Investments 0.2%** |  |  |  |
|  | **Investments from Cash Collateral<br> Received for Loaned Securities 0.2%** |  |  |  |
|  | **United States 0.2%** |  |  |  |
| <sup>d,e</sup> | Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;2858424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2858424 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Money Market Funds 0.0%<sup>†</sup>** |  |  |
|  | **United States 0.0%<sup>†</sup>** |  |  |
| <sup>d,e</sup> | Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 508617 |
|  | **Total Short-Term Investments (Cost $3,367,041)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3367041 |
|  | **Total Investments (Cost $1,912,054,190) 99.4%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2150245521 |
|  | **Other Assets, less Liabilities 0.6%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13541871 |
|  | **Net Assets 100.0%** |  | &nbsp;&nbsp;$2163787392 |

---

---

| |
|:---|
| <sup>†</sup>Rounds to less than 0.1% of net assets. |
| <sup>a</sup>Non-income producing. |
| <sup>b</sup>Fair valued using significant unobservable inputs. See Note 5 regarding fair value measurements. |
| <sup>c</sup>A portion or all of the security is on loan at June 30, 2025. |
| <sup>d</sup>The rate shown is the annualized seven-day effective yield at period end. |
| <sup>e</sup>See Note 3 regarding investments in affiliated management investment companies. |

---

At June 30, 2025, the Fund had the following futures contracts outstanding.

#### Futures Contracts

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Type** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Notional<br> Amount\*** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value/Unrealized<br> Appreciation<br> (Depreciation)** |
| **Index Contracts** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;TOPIX Index Future | &nbsp;&nbsp;Long | &nbsp;&nbsp;71 | &nbsp;&nbsp;$14035827 | &nbsp;&nbsp;9/11/25 | &nbsp;&nbsp;$298986 |

---

\*As of period end.

#### Abbreviations

---

| | |
|:---|:---|
| **Selected Portfolio** |  |
| **REIT** | Real Estate Investment Trust |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Franklin FTSE Japan Hedged ETF** | &nbsp;&nbsp;**Industry** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
|  | **Common Stocks 99.0%** |  |  |  |
|  | **Japan 99.0%** |  |  |  |
|  | ABC-Mart, Inc. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp; 1432 | &nbsp;&nbsp;$29365 |
|  | Acom Co. Ltd. | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp; 8100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23950 |
|  | Activia Properties, Inc. | &nbsp;&nbsp;Diversified REITs | &nbsp;&nbsp; 36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30581 |
|  | Advance Residence Investment Corp. | &nbsp;&nbsp;Residential REITs | &nbsp;&nbsp; 54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 55927 |
|  | Advantest Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 13148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 969864 |
|  | Aeon Co. Ltd. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp; 13500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 413098 |
|  | AEON Financial Service Co. Ltd. | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24010 |
| <sup>a,b</sup> | Aeon Mall Co. Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31267 |
|  | AEON REIT Investment Corp. | &nbsp;&nbsp;Retail REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23702 |
|  | AGC, Inc. | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90718 |
|  | Aica Kogyo Co. Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24436 |
|  | Air Water, Inc. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40244 |
|  | Aisin Corp. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116309 |
|  | Ajinomoto Co., Inc. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;17100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;462764 |
|  | Alfresa Holdings Corp. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36852 |
|  | Alps Alpine Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29020 |
|  | Amada Co. Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58899 |
|  | Amano Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32812 |
|  | ANA Holdings, Inc. | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52759 |
|  | Aozora Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40413 |
|  | As One Corp. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17435 |
|  | Asahi Group Holdings Ltd. | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;25800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;344280 |
|  | Asahi Intecc Co. Ltd. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53355 |
|  | Asahi Kasei Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;21600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153575 |
|  | Asics Corp. | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;11800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300627 |
|  | Astellas Pharma, Inc. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;32400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317731 |
|  | Azbil Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76825 |
|  | Bandai Namco Holdings, Inc. | &nbsp;&nbsp;Leisure Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350044 |
|  | BayCurrent, Inc. | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123851 |
|  | Bic Camera, Inc. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18321 |
|  | BIPROGY, Inc. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55903 |
|  | Bridgestone Corp. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;404089 |
|  | Brother Industries Ltd. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69050 |
|  | Calbee, Inc. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25142 |
|  | Canon Marketing Japan, Inc. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;866 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31721 |
|  | Canon, Inc. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;15506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;449684 |
|  | Capcom Co. Ltd. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212456 |
|  | Casio Computer Co. Ltd. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20561 |
|  | Central Japan Railway Co. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;15200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340105 |
|  | Chiba Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;10800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99779 |
|  | Chubu Electric Power Co., Inc. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;13500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166454 |
|  | Chugai Pharmaceutical Co. Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;11420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;594936 |
|  | Chugin Financial Group, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32646 |
|  | Chugoku Electric Power Co., Inc. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26655 |
|  | Coca-Cola Bottlers Japan Holdings, Inc. | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43469 |
|  | COMSYS Holdings Corp. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44370 |
|  | Concordia Financial Group Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;18900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122629 |
|  | Cosmo Energy Holdings Co. Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49264 |
|  | Cosmos Pharmaceutical Corp. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37860 |
|  | Credit Saison Co. Ltd. | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72900 |
|  | CyberAgent, Inc. | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92527 |
|  | Dai Nippon Printing Co. Ltd. | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122293 |
|  | Daicel Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45217 |
|  | Daido Steel Co. Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18612 |
|  | Daifuku Co. Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157595 |
|  | Dai-ichi Life Holdings, Inc. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;62100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;471194 |
|  | Daiichi Sankyo Co. Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;32900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;766441 |
|  | Daikin Industries Ltd. | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;577538 |
|  | Daito Trust Construction Co. Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109713 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Daiwa House Industry Co. Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp; 10236 | &nbsp;&nbsp; 351062 |
|  | Daiwa House REIT Investment Corp. | &nbsp;&nbsp;Diversified REITs | &nbsp;&nbsp; 38 | &nbsp;&nbsp; 64059 |
|  | Daiwa Office Investment Corp. | &nbsp;&nbsp;Office REITs | &nbsp;&nbsp; 9 | &nbsp;&nbsp; 19907 |
|  | Daiwa Securities Group, Inc. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp; 24300 | &nbsp;&nbsp; 172352 |
|  | Daiwa Securities Living Investments Corp. | &nbsp;&nbsp;Residential REITs | &nbsp;&nbsp; 27 | &nbsp;&nbsp; 17870 |
|  | Denka Co. Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 1443 | &nbsp;&nbsp; 19780 |
|  | Denso Corp. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp; 32800 | &nbsp;&nbsp; 442912 |
|  | Dentsu Group, Inc. | &nbsp;&nbsp;Media | &nbsp;&nbsp; 3532 | &nbsp;&nbsp; 78149 |
|  | Dentsu Soken, Inc. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp; 413 | &nbsp;&nbsp; 19214 |
|  | Dexerials Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41730 |
|  | DIC Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31466 |
|  | Disco Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1592 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;469846 |
|  | DMG Mori Co. Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62040 |
|  | Dowa Holdings Co. Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25390 |
|  | East Japan Railway Co. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;18900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;406668 |
|  | Ebara Corp. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155781 |
|  | Eisai Co. Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138903 |
|  | Electric Power Development Co. Ltd. | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45908 |
|  | ENEOS Holdings, Inc. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;45900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227236 |
|  | EXEO Group, Inc. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34522 |
|  | Ezaki Glico Co. Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31149 |
|  | FANUC Corp. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;16200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;441884 |
|  | Fast Retailing Co. Ltd. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3186 | &nbsp;&nbsp;&nbsp;&nbsp;1092255 |
|  | Food & Life Cos. Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99267 |
|  | FP Corp. | &nbsp;&nbsp;Containers & Packaging | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16095 |
|  | Frontier Real Estate Investment Corp. | &nbsp;&nbsp;Retail REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22735 |
|  | Fuji Electric Co. Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123457 |
|  | Fuji Media Holdings, Inc. | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23047 |
|  | Fuji Oil Co. Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17582 |
|  | FUJIFILM Holdings Corp. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;21637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470653 |
|  | Fujikura Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247658 |
|  | Fujitec Co. Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57927 |
|  | Fujitsu Ltd. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;30640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;745610 |
|  | Fukuoka Financial Group, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72096 |
|  | Furukawa Electric Co. Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56383 |
|  | Fuyo General Lease Co. Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26244 |
|  | GLP J-Reit | &nbsp;&nbsp;Industrial REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72731 |
|  | GMO internet group, Inc. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27718 |
|  | GMO Payment Gateway, Inc. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44104 |
|  | Goldwin, Inc. | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33717 |
|  | GS Yuasa Corp. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1661 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31002 |
|  | Gunma Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45254 |
|  | Hachijuni Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65666 |
|  | Hakuhodo DY Holdings, Inc. | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44693 |
|  | Hamamatsu Photonics KK | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65647 |
|  | Hankyu Hanshin Holdings, Inc. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103886 |
|  | Harmonic Drive Systems, Inc. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15256 |
|  | Haseko Corp. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66442 |
|  | Heiwa Corp. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14582 |
|  | Hikari Tsushin, Inc. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101947 |
| <sup>a</sup> | Hino Motors Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6711 |
|  | Hirogin Holdings, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45123 |
|  | Hirose Electric Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65757 |
|  | Hisamitsu Pharmaceutical Co., Inc. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30856 |
|  | Hitachi Construction Machinery Co. Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57157 |
|  | Hitachi Ltd. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;78593 | &nbsp;&nbsp;&nbsp;&nbsp;2287954 |
|  | Honda Motor Co. Ltd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;75600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;729857 |
|  | Horiba Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46751 |
|  | Hoshizaki Corp. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73687 |
|  | House Foods Group, Inc. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20682 |
|  | Hoya Corp. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;711877 |
|  | Hulic Co. Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81451 |
|  | Ibiden Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85245 |
|  | Idemitsu Kosan Co. Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;13500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81779 |
|  | IHI Corp. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243514 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

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| | | | | |
|:---|:---|:---|:---|:---|
|  | Iida Group Holdings Co. Ltd. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp; 2700 | &nbsp;&nbsp; 37992 |
|  | Industrial & Infrastructure Fund Investment Corp. | &nbsp;&nbsp;Industrial REITs | &nbsp;&nbsp; 54 | &nbsp;&nbsp; 45422 |
|  | INFRONEER Holdings, Inc. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp; 2700 | &nbsp;&nbsp; 22627 |
|  | Inpex Corp. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 14511 | &nbsp;&nbsp; 203432 |
|  | Internet Initiative Japan, Inc. | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp; 2032 | &nbsp;&nbsp; 39994 |
|  | Invincible Investment Corp. | &nbsp;&nbsp;Hotel & Resort REITs | &nbsp;&nbsp; 135 | &nbsp;&nbsp; 57946 |
|  | Isetan Mitsukoshi Holdings Ltd. | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp; 5387 | &nbsp;&nbsp; 82011 |
|  | Isuzu Motors Ltd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp; 9258 | &nbsp;&nbsp; 117323 |
|  | Ito En Ltd. | &nbsp;&nbsp;Beverages | &nbsp;&nbsp; 1083 | &nbsp;&nbsp; 24487 |
|  | ITOCHU Corp. | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;20786 | &nbsp;&nbsp;&nbsp;&nbsp;1087327 |
|  | Itoham Yonekyu Holdings, Inc. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20354 |
|  | Iwatani Corp. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28627 |
|  | Iyogin Holdings, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59161 |
|  | Izumi Co. Ltd. | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18092 |
|  | J Front Retailing Co. Ltd. | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55039 |
|  | Japan Airlines Co. Ltd. | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54983 |
|  | Japan Airport Terminal Co. Ltd. | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1301 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41477 |
|  | Japan Exchange Group, Inc. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;18900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191100 |
|  | Japan Hotel REIT Investment Corp. | &nbsp;&nbsp;Hotel & Resort REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42674 |
|  | Japan Logistics Fund, Inc. | &nbsp;&nbsp;Industrial REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27187 |
|  | Japan Metropolitan Fund Invest | &nbsp;&nbsp;Retail REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76264 |
|  | Japan Post Bank Co. Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;32400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348797 |
|  | Japan Post Holdings Co. Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;29700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;274598 |
|  | Japan Post Insurance Co. Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76194 |
|  | Japan Prime Realty Investment Corp. | &nbsp;&nbsp;Office REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38464 |
|  | Japan Real Estate Investment Corp. | &nbsp;&nbsp;Office REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97947 |
|  | Japan Steel Works Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57776 |
|  | Japan Tobacco, Inc. | &nbsp;&nbsp;Tobacco | &nbsp;&nbsp;&nbsp;&nbsp;18900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555832 |
|  | Jeol Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;794 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24208 |
|  | JFE Holdings, Inc. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;10800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125388 |
|  | JGC Holdings Corp. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23356 |
|  | JMDC, Inc. | &nbsp;&nbsp;Health Care Technology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15446 |
|  | JTEKT Corp. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22206 |
|  | Kadokawa Corp. | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53929 |
|  | Kagome Co. Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31756 |
|  | Kajima Corp. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211017 |
|  | Kakaku.com, Inc. | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35411 |
|  | Kamigumi Co. Ltd. | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45828 |
|  | Kandenko Co. Ltd. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1574 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36319 |
|  | Kaneka Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21437 |
|  | Kansai Electric Power Co., Inc. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;16200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191670 |
|  | Kansai Paint Co. Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36964 |
|  | Kao Corp. | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362087 |
|  | Kawasaki Heavy Industries Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203745 |
|  | Kawasaki Kisen Kaisha Ltd. | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6631 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93833 |
|  | KDDI Corp. | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;51300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;880778 |
|  | KDX Realty Investment Corp. | &nbsp;&nbsp;Diversified REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71325 |
|  | Keihan Holdings Co. Ltd. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1757 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37148 |
|  | Keikyu Corp. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28104 |
|  | Keio Corp. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46360 |
|  | Keisei Electric Railway Co. Ltd. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75788 |
|  | Kewpie Corp. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44575 |
|  | Keyence Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3346 | &nbsp;&nbsp;&nbsp;&nbsp;1339836 |
|  | Kikkoman Corp. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;13500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125051 |
|  | Kinden Corp. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62303 |
|  | Kintetsu Group Holdings Co. Ltd. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59497 |
| <sup>a</sup> | Kioxia Holdings Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20794 |
|  | Kirin Holdings Co. Ltd. | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;13500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188745 |
|  | Kobayashi Pharmaceutical Co. Ltd. | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41742 |
|  | Kobe Bussan Co. Ltd. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83704 |
|  | Kobe Steel Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58843 |
|  | Koei Tecmo Holdings Co. Ltd. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44039 |
|  | Koito Manufacturing Co. Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32235 |
|  | Kokusai Electric Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65694 |
|  | Kokuyo Co. Ltd. | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35374 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Komatsu Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 16236 | &nbsp;&nbsp; 532451 |
|  | Konami Group Corp. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp; 1615 | &nbsp;&nbsp; 255088 |
| <sup>a</sup> | Konica Minolta, Inc. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp; 8100 | &nbsp;&nbsp; 26311 |
|  | Kose Corp. | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp; 676 | &nbsp;&nbsp; 26503 |
|  | Kotobuki Spirits Co. Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp; 1686 | &nbsp;&nbsp; 24016 |
|  | K's Holdings Corp. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp; 2700 | &nbsp;&nbsp; 27384 |
|  | Kubota Corp. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 18900 | &nbsp;&nbsp; 212232 |
|  | Kuraray Co. Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 5400 | &nbsp;&nbsp; 68601 |
|  | Kurita Water Industries Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 1954 | &nbsp;&nbsp; 77080 |
|  | Kusuri No. Aoki Holdings Co. Ltd. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;924 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23227 |
|  | Kyocera Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;24300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;291627 |
|  | Kyoto Financial Group, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71501 |
|  | Kyowa Kirin Co. Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72559 |
|  | Kyudenko Corp. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33690 |
|  | Kyushu Electric Power Co., Inc. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72199 |
|  | Kyushu Financial Group, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40835 |
|  | Kyushu Railway Co. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69647 |
|  | LaSalle Logiport REIT | &nbsp;&nbsp;Industrial REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26001 |
|  | Lasertec Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188664 |
|  | Lion Corp. | &nbsp;&nbsp;Household Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42293 |
|  | Lixil Corp. | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62357 |
|  | LY Corp. | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;48600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178459 |
|  | M3, Inc. | &nbsp;&nbsp;Health Care Technology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111340 |
|  | Mabuchi Motor Co. Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26425 |
|  | Macnica Holdings, Inc. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36282 |
|  | Makita Corp. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133764 |
|  | Marubeni Corp. | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;26000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;524338 |
|  | Marui Group Co. Ltd. | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56207 |
|  | Maruichi Steel Tube Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25502 |
|  | Maruwa Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38637 |
|  | Matsui Securities Co. Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13010 |
|  | MatsukiyoCocokara & Co. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127107 |
|  | Mazda Motor Corp. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;10800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65004 |
|  | McDonald's Holdings Co. Japan Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1633 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67380 |
|  | Mebuki Financial Group, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;16200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84463 |
|  | Medipal Holdings Corp. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43684 |
|  | MEIJI Holdings Co. Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91520 |
| <sup>a</sup> | Mercari, Inc. | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37487 |
|  | Minebea Mitsumi, Inc. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6523 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95579 |
|  | MISUMI Group, Inc. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72189 |
|  | Mitsubishi Chemical Group Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;24300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127518 |
|  | Mitsubishi Corp. | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;57800 | &nbsp;&nbsp;&nbsp;&nbsp;1155640 |
|  | Mitsubishi Electric Corp. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;35083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;755604 |
|  | Mitsubishi Estate Co. Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;19723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;369077 |
|  | Mitsubishi Gas Chemical Co., Inc. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40799 |
|  | Mitsubishi HC Capital, Inc. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;13500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99116 |
|  | Mitsubishi Heavy Industries Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;56700 | &nbsp;&nbsp;&nbsp;&nbsp;1417058 |
|  | Mitsubishi Logistics Corp. | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44207 |
|  | Mitsubishi Materials Corp. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42628 |
|  | Mitsubishi Motors Corp. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;10800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30543 |
|  | Mitsubishi UFJ Financial Group, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;199822 | &nbsp;&nbsp;&nbsp;&nbsp;2743238 |
|  | Mitsui & Co. Ltd. | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;45289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;923997 |
|  | Mitsui Chemicals, Inc. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62339 |
|  | Mitsui Fudosan Co. Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;45900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;443286 |
|  | Mitsui Fudosan Logistics Park, Inc. | &nbsp;&nbsp;Industrial REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35449 |
|  | Mitsui Mining & Smelting Co. Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1084 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37816 |
|  | Mitsui OSK Lines Ltd. | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179092 |
|  | Miura Co. Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34327 |
|  | Mizuho Financial Group, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;43259 | &nbsp;&nbsp;&nbsp;&nbsp;1195841 |
| <sup>a</sup> | Money Forward, Inc. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26623 |
|  | MonotaRO Co. Ltd. | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86387 |
|  | Mori Hills REIT Investment Corp., Class C | &nbsp;&nbsp;Office REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25010 |
|  | Morinaga & Co. Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21276 |
|  | Morinaga Milk Industry Co. Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30993 |
|  | MS&AD Insurance Group Holdings, Inc. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;21654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;484215 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Murata Manufacturing Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp; 29700 | &nbsp;&nbsp; 442894 |
|  | Nabtesco Corp. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 2700 | &nbsp;&nbsp; 48254 |
|  | Nagase & Co. Ltd. | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp; 1798 | &nbsp;&nbsp; 34598 |
|  | Nagoya Railroad Co. Ltd. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp; 2700 | &nbsp;&nbsp; 30478 |
|  | Nankai Electric Railway Co. Ltd. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp; 2700 | &nbsp;&nbsp; 40749 |
|  | NEC Corp. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp; 21600 | &nbsp;&nbsp; 630900 |
|  | Nexon Co. Ltd. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp; 6900 | &nbsp;&nbsp; 139008 |
|  | NGK Insulators Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 5400 | &nbsp;&nbsp; 67759 |
|  | NH Foods Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp; 1612 | &nbsp;&nbsp; 55711 |
|  | NHK Spring Co. Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29394 |
|  | Nichias Corp. | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36904 |
|  | Nichirei Corp. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35652 |
|  | NIDEC Corp. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;16154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;313697 |
|  | Nifco, Inc. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34616 |
|  | Nihon Kohden Corp. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32076 |
|  | Nihon M&A Center Holdings, Inc. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27343 |
|  | Nikon Corp. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55329 |
|  | Nintendo Co. Ltd. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;17988 | &nbsp;&nbsp;&nbsp;&nbsp;1728502 |
|  | Nippon Accommodations Fund, Inc. | &nbsp;&nbsp;Residential REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26890 |
|  | Nippon Building Fund, Inc. | &nbsp;&nbsp;Office REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124210 |
|  | Nippon Electric Glass Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30905 |
|  | Nippon Express Holdings, Inc. | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3857 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77236 |
|  | Nippon Kayaku Co. Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24206 |
|  | Nippon Paint Holdings Co. Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;16200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130098 |
|  | Nippon Prologis REIT, Inc. | &nbsp;&nbsp;Industrial REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65578 |
|  | Nippon Sanso Holdings Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3304 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124959 |
|  | Nippon Shinyaku Co. Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19253 |
|  | Nippon Shokubai Co. Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30730 |
|  | Nippon Steel Corp. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;17600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;333004 |
|  | Nippon Telegraph & Telephone Corp. | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;486000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;518149 |
|  | Nippon Television Holdings, Inc. | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22354 |
|  | Nippon Yusen KK | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263881 |
|  | Nipro Corp. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23861 |
|  | Nissan Chemical Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83057 |
| <sup>a</sup> | Nissan Motor Co. Ltd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;35100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85098 |
|  | Nisshin Seifun Group, Inc. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50085 |
|  | Nissin Foods Holdings Co. Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77291 |
|  | Niterra Co. Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87596 |
|  | Nitori Holdings Co. Ltd. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131062 |
|  | Nitto Denko Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;12415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239929 |
|  | NOF Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72562 |
|  | NOK Corp. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16198 |
|  | Nomura Holdings, Inc. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;51300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338105 |
|  | Nomura Real Estate Holdings, Inc. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47318 |
|  | Nomura Real Estate Master Fund, Inc. | &nbsp;&nbsp;Diversified REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82545 |
|  | Nomura Research Institute Ltd. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;292503 |
|  | NS Solutions Corp. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33879 |
|  | NSK Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38048 |
|  | NTT Data Group Corp. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125387 |
|  | Obayashi Corp. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;10800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163408 |
|  | OBIC Business Consultants Co. Ltd. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32152 |
|  | Obic Co. Ltd. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228022 |
|  | Odakyu Electric Railway Co. Ltd. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63030 |
|  | Oji Holdings Corp. | &nbsp;&nbsp;Paper & Forest Products | &nbsp;&nbsp;&nbsp;&nbsp;13500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67834 |
|  | OKUMA Corp. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22155 |
|  | Olympus Corp. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;18900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224400 |
|  | Omron Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91982 |
|  | Ono Pharmaceutical Co. Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87424 |
|  | Open House Group Co. Ltd. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59781 |
|  | Oracle Corp. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67457 |
|  | Organo Corp. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27914 |
|  | Oriental Land Co. Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;18900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;434931 |
|  | ORIX Corp. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;20100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;453640 |
|  | Orix JREIT, Inc. | &nbsp;&nbsp;Office REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70208 |
|  | Osaka Gas Co. Ltd. | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171962 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Otsuka Corp. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp; 4006 | &nbsp;&nbsp; 81440 |
|  | Otsuka Holdings Co. Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp; 8100 | &nbsp;&nbsp; 401005 |
|  | PALTAC Corp. | &nbsp;&nbsp;Distributors | &nbsp;&nbsp; 575 | &nbsp;&nbsp; 16074 |
|  | Pan Pacific International Holdings Corp. | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp; 7027 | &nbsp;&nbsp; 241247 |
|  | Panasonic Holdings Corp. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp; 40500 | &nbsp;&nbsp; 436137 |
|  | Park24 Co. Ltd. | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp; 2700 | &nbsp;&nbsp; 34581 |
| <sup>a</sup> | PeptiDream, Inc. | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp; 1686 | &nbsp;&nbsp; 19201 |
|  | Persol Holdings Co. Ltd. | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp; 32400 | &nbsp;&nbsp; 63142 |
|  | Pola Orbis Holdings, Inc. | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp; 2700 | &nbsp;&nbsp; 23926 |
|  | Rakus Co. Ltd. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1755 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28145 |
| <sup>a</sup> | Rakuten Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70480 |
| <sup>a</sup> | Rakuten Group, Inc. | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;24300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133978 |
|  | Recruit Holdings Co. Ltd. | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;24194 | &nbsp;&nbsp;&nbsp;&nbsp;1429581 |
|  | Relo Group, Inc. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31936 |
|  | Renesas Electronics Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;28658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354939 |
|  | Rengo Co. Ltd. | &nbsp;&nbsp;Containers & Packaging | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14606 |
|  | Resona Holdings, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;40500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373471 |
|  | Resonac Holdings Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75584 |
|  | Resorttrust, Inc. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32917 |
|  | Ricoh Co. Ltd. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;10800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102097 |
|  | Rinnai Corp. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47325 |
|  | Rohm Co. Ltd. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68675 |
|  | Rohto Pharmaceutical Co. Ltd. | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47683 |
|  | Rorze Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23963 |
|  | Ryohin Keikaku Co. Ltd. | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202603 |
|  | Sankyo Co. Ltd. | &nbsp;&nbsp;Leisure Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49871 |
|  | Sankyu, Inc. | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;813 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43519 |
|  | Sanrio Co. Ltd. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144189 |
|  | Santen Pharmaceutical Co. Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61797 |
|  | Sanwa Holdings Corp. | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115610 |
|  | Sapporo Holdings Ltd. | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59150 |
|  | Sawai Group Holdings Co. Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2062 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26167 |
|  | SBI Holdings, Inc. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168160 |
|  | SBI Sumishin Net Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26616 |
|  | SCREEN Holdings Co. Ltd. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130997 |
|  | SCSK Corp. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81274 |
|  | Secom Co. Ltd. | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261940 |
|  | Sega Sammy Holdings, Inc. | &nbsp;&nbsp;Leisure Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64582 |
|  | Seibu Holdings, Inc. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111979 |
|  | Seiko Epson Corp. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71516 |
|  | Seino Holdings Co. Ltd. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41403 |
|  | Sekisui Chemical Co. Ltd. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116147 |
|  | Sekisui House Ltd. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;10816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238342 |
|  | Sekisui House Reit, Inc. | &nbsp;&nbsp;Diversified REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42562 |
|  | Seven & i Holdings Co. Ltd. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;40500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;651331 |
|  | Seven Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14748 |
|  | SG Holdings Co. Ltd. | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90087 |
| <sup>a</sup> | Sharp Corp. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26221 |
| <sup>a</sup> | SHIFT, Inc. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32674 |
|  | Shikoku Electric Power Co., Inc. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22571 |
|  | Shimadzu Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108462 |
|  | Shimamura Co. Ltd. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52966 |
|  | Shimano, Inc. | &nbsp;&nbsp;Leisure Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201314 |
|  | Shimizu Corp. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90340 |
|  | Shin-Etsu Chemical Co. Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;34682 | &nbsp;&nbsp;&nbsp;&nbsp;1145782 |
|  | Shionogi & Co. Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;13500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242438 |
|  | Ship Healthcare Holdings, Inc. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19238 |
|  | Shiseido Co. Ltd. | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122542 |
|  | Shizuoka Financial Group, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94097 |
|  | SHO-BOND Holdings Co. Ltd. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25369 |
|  | Skylark Holdings Co. Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82190 |
|  | SMC Corp. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360276 |
|  | Socionext, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51890 |
|  | SoftBank Corp. | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;507600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;783653 |
|  | SoftBank Group Corp. | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;17499 | &nbsp;&nbsp;&nbsp;&nbsp;1273855 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Sohgo Security Services Co. Ltd. | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp; 5400 | &nbsp;&nbsp; 37702 |
|  | Sojitz Corp. | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp; 3641 | &nbsp;&nbsp; 89358 |
|  | Sompo Holdings, Inc. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp; 16227 | &nbsp;&nbsp; 488119 |
|  | Sony Group Corp. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;107526 | &nbsp;&nbsp; 2776641 |
|  | Sotetsu Holdings, Inc. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp; 1303 | &nbsp;&nbsp; 20468 |
|  | Square Enix Holdings Co. Ltd. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp; 1407 | &nbsp;&nbsp; 105151 |
|  | Stanley Electric Co. Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp; 2700 | &nbsp;&nbsp; 53338 |
|  | Subaru Corp. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp; 10836 | &nbsp;&nbsp; 188708 |
|  | Sugi Holdings Co. Ltd. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp; 1598 | &nbsp;&nbsp; 36453 |
|  | SUMCO Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42431 |
|  | Sumitomo Bakelite Co. Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35068 |
|  | Sumitomo Chemical Co. Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;27000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65142 |
|  | Sumitomo Corp. | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;17758 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;458441 |
|  | Sumitomo Electric Industries Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;13500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;289262 |
|  | Sumitomo Forestry Co. Ltd. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81788 |
|  | Sumitomo Heavy Industries Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38660 |
|  | Sumitomo Metal Mining Co. Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106767 |
|  | Sumitomo Mitsui Financial Group, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;66100 | &nbsp;&nbsp;&nbsp;&nbsp;1662968 |
|  | Sumitomo Mitsui Trust Group, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;11436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303941 |
|  | Sumitomo Realty & Development Co. Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224807 |
|  | Sumitomo Rubber Industries Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30665 |
|  | Sundrug Co. Ltd. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37085 |
|  | Suntory Beverage & Food Ltd. | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2779 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88693 |
|  | Suzuken Co. Ltd. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;908 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32738 |
|  | Suzuki Motor Corp. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;30858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;372360 |
|  | Sysmex Corp. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140977 |
|  | T&D Holdings, Inc. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178531 |
|  | Taiheiyo Cement Corp. | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52403 |
|  | Taisei Corp. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158818 |
|  | Taiyo Yuden Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47385 |
|  | Takara Holdings, Inc. | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22393 |
|  | Takasago Thermal Engineering Co. Ltd. | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49603 |
|  | Takashimaya Co. Ltd. | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42188 |
|  | Takeda Pharmaceutical Co. Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;27604 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;845635 |
|  | TBS Holdings, Inc. | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20948 |
|  | TDK Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;35100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;412005 |
|  | TechnoPro Holdings, Inc. | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55979 |
|  | Teijin Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21833 |
|  | Terumo Corp. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;25400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;465991 |
|  | THK Co. Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50734 |
|  | TIS, Inc. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133171 |
|  | Tobu Railway Co. Ltd. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61605 |
|  | Toda Corp. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17118 |
|  | Toei Animation Co. Ltd. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22992 |
|  | Toho Co. Ltd. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1894 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111585 |
|  | Toho Gas Co. Ltd. | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1467 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40797 |
|  | Tohoku Electric Power Co., Inc. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58909 |
|  | Tokai Carbon Co. Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19038 |
|  | Tokio Marine Holdings, Inc. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;32936 | &nbsp;&nbsp;&nbsp;&nbsp;1393415 |
|  | Tokyo Century Corp. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30384 |
| <sup>a</sup> | Tokyo Electric Power Co. Holdings, Inc. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;27000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89741 |
|  | Tokyo Electron Ltd. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7900 | &nbsp;&nbsp;&nbsp;&nbsp;1513877 |
|  | Tokyo Gas Co. Ltd. | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220118 |
|  | Tokyo Metro Co. Ltd. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62712 |
|  | Tokyo Ohka Kogyo Co. Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55973 |
|  | Tokyo Seimitsu Co. Ltd. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43125 |
|  | Tokyo Tatemono Co. Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3443 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61175 |
|  | Tokyu Corp. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96115 |
|  | Tokyu Fudosan Holdings Corp. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;10800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76900 |
|  | Tomy Co. Ltd. | &nbsp;&nbsp;Leisure Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39120 |
|  | TOPPAN Holdings, Inc. | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106246 |
|  | Toray Industries, Inc. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;27000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184642 |
|  | Toridoll Holdings Corp. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19487 |
|  | Tosoh Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78881 |
|  | TOTO Ltd. | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67965 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Toyo Seikan Group Holdings Ltd. | &nbsp;&nbsp;Containers & Packaging | &nbsp;&nbsp; 2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52768 |
|  | Toyo Suisan Kaisha Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp; 1633 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 108362 |
|  | Toyo Tire Corp. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp; 2674 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 56536 |
|  | Toyoda Gosei Co. Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp; 1180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23209 |
|  | Toyota Boshoku Corp. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp; 1032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14053 |
|  | Toyota Industries Corp. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 3024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 341245 |
|  | Toyota Motor Corp. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;190175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3282262 |
|  | Toyota Tsusho Corp. | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp; 11779 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 266576 |
|  | Trend Micro, Inc. | &nbsp;&nbsp;Software | &nbsp;&nbsp; 2334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 161212 |
|  | TS Tech Co. Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17121 |
|  | Tsumura & Co. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26880 |
|  | Tsuruha Holdings, Inc. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;771 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60076 |
|  | UBE Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26403 |
|  | Ulvac, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31003 |
|  | Unicharm Corp. | &nbsp;&nbsp;Household Products | &nbsp;&nbsp;&nbsp;&nbsp;21600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155594 |
|  | United Urban Investment Corp. | &nbsp;&nbsp;Diversified REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57983 |
|  | Ushio, Inc. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20917 |
|  | USS Co. Ltd. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59385 |
|  | Welcia Holdings Co. Ltd. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31347 |
|  | West Japan Railway Co. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185165 |
|  | Workman Co. Ltd. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16251 |
|  | Yakult Honsha Co. Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78871 |
|  | Yamada Holdings Co. Ltd. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;10800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33893 |
|  | Yamaguchi Financial Group, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29029 |
|  | Yamaha Corp. | &nbsp;&nbsp;Leisure Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38973 |
|  | Yamaha Motor Co. Ltd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;16200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121070 |
|  | Yamato Holdings Co. Ltd. | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72152 |
|  | Yamato Kogyo Co. Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39914 |
|  | Yamazaki Baking Co. Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60357 |
|  | Yaoko Co. Ltd. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30213 |
|  | Yaskawa Electric Corp. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4583 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103720 |
|  | Yokogawa Electric Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113853 |
|  | Yokohama Rubber Co. Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74246 |
|  | Zenkoku Hosho Co. Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44809 |
|  | Zensho Holdings Co. Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1589 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96124 |
|  | Zeon Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27375 |
|  | ZOZO, Inc. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87311 |
|  | **Total Common Stocks (Cost $74,227,187)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86670372 |
|  | **Total Investments before Short-Term Investments (Cost $74,227,187)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86670372 |
|  | **Short-Term Investments 0.1%** |  |  |  |
|  | **Money Market Funds 0.1%** |  |  |  |
|  | **United States 0.1%** |  |  |  |
| <sup>c,d</sup> | Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;79305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79305 |
|  | **Total Short-Term Investments (Cost $79,305)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79305 |
|  | **Total Investments (Cost $74,306,492) 99.1%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86749677 |
|  | **Other Assets, less Liabilities 0.9%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;751108 |
|  | **Net Assets 100.0%** |  |  | &nbsp;&nbsp;$87500785 |

---

---

| |
|:---|
| <sup>a</sup>Non-income producing. |
| <sup>b</sup>Fair valued using significant unobservable inputs. See Note 5 regarding fair value measurements. |
| <sup>c</sup>The rate shown is the annualized seven-day effective yield at period end. |
| <sup>d</sup>See Note 3 regarding investments in affiliated management investment companies. |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

At June 30, 2025, the Fund had the following forward exchange contracts outstanding.

#### Forward Exchange Contracts

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Currency** | **Counterparty<sup>a</sup>** | &nbsp;&nbsp;**Type** | &nbsp;&nbsp;**Quantity** | &nbsp;&nbsp;**Contract<br> Amount** | &nbsp;&nbsp;**Settlement<br> Date** | &nbsp;&nbsp;**Unrealized<br> Appreciation** | &nbsp;&nbsp;**Unrealized<br> Depreciation** |
| **OTC Forward Exchange Contracts** | **OTC Forward Exchange Contracts** | **OTC Forward Exchange Contracts** | **OTC Forward Exchange Contracts** | **OTC Forward Exchange Contracts** | **OTC Forward Exchange Contracts** | **OTC Forward Exchange Contracts** | **OTC Forward Exchange Contracts** |
| Japanese Yen | UBSW | &nbsp;&nbsp;Buy | &nbsp;&nbsp;3100792728 | &nbsp;&nbsp;$21466736 | &nbsp;&nbsp;7/02/25 | &nbsp;&nbsp;$208 | &nbsp;&nbsp;$— |
| Japanese Yen | WFS | &nbsp;&nbsp;Buy | &nbsp;&nbsp;6201585456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42933680 | &nbsp;&nbsp;7/02/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Japanese Yen | SSBT | &nbsp;&nbsp;Buy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61240272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420090 | &nbsp;&nbsp;7/02/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Japanese Yen | UBSW | &nbsp;&nbsp;Buy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61240272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420090 | &nbsp;&nbsp;7/02/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Japanese Yen | WFS | &nbsp;&nbsp;Buy | &nbsp;&nbsp;&nbsp;&nbsp;122480544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840167 | &nbsp;&nbsp;7/02/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Japanese Yen | SSBT | &nbsp;&nbsp;Sell | &nbsp;&nbsp;3162033000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21985143 | &nbsp;&nbsp;7/02/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Japanese Yen | UBSW | &nbsp;&nbsp;Sell | &nbsp;&nbsp;3162033000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21985219 | &nbsp;&nbsp;7/02/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Japanese Yen | WFS | &nbsp;&nbsp;Sell | &nbsp;&nbsp;6324066000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43970907 | &nbsp;&nbsp;7/02/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| Japanese Yen | SSBT | &nbsp;&nbsp;Sell | &nbsp;&nbsp;3155093000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21922974 | &nbsp;&nbsp;8/04/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (693) |
| Japanese Yen | WFS | &nbsp;&nbsp;Sell | &nbsp;&nbsp;6310187000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43846686 | &nbsp;&nbsp;8/04/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (655) |
| Japanese Yen | UBSW | &nbsp;&nbsp;Sell | &nbsp;&nbsp;3155093000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21923294 | &nbsp;&nbsp;8/04/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (373) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Forward Exchange Contracts | &nbsp;&nbsp;&nbsp;&nbsp;Total Forward Exchange Contracts | &nbsp;&nbsp;&nbsp;&nbsp;Total Forward Exchange Contracts | &nbsp;&nbsp;&nbsp;&nbsp;Total Forward Exchange Contracts | &nbsp;&nbsp;&nbsp;&nbsp;Total Forward Exchange Contracts | &nbsp;&nbsp;&nbsp;&nbsp;Total Forward Exchange Contracts | &nbsp;&nbsp;$393563 | &nbsp;&nbsp;&nbsp;&nbsp;$(1721) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net unrealized appreciation (depreciation) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$391842 |

---

<sup>a</sup>May be comprised of multiple contracts with the same counterparty, currency and settlement date.

At June 30, 2025, the Fund had the following futures contracts outstanding.

#### Futures Contracts

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Type** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Notional<br> Amount\*** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value/Unrealized<br> Appreciation<br> (Depreciation)** |
| **Index Contracts** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Mini Topix Index Futures | &nbsp;&nbsp;Long | &nbsp;&nbsp;51 | &nbsp;&nbsp;$1008207 | &nbsp;&nbsp;9/11/25 | &nbsp;&nbsp;$21637 |

---

\*As of period end.

#### Abbreviations

---

| | |
|:---|:---|
| **Selected Portfolio** |  |
| **REIT** | Real Estate Investment Trust |
| **SSBT** | State Street Bank & Trust Co. |
| **UBSW** | UBS AG |
| **WFS** | Wells Fargo Bank NA |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Franklin FTSE Latin America ETF** | &nbsp;&nbsp;**Industry** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
|  | **Common Stocks 80.2%** |  |  |  |
|  | **Brazil 42.6%** |  |  |  |
|  | Allos SA | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp; 18400 | &nbsp;&nbsp;$76596 |
|  | Alupar Investimento SA, UNIT | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp; 16640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94361 |
|  | Ambev SA | &nbsp;&nbsp;Beverages | &nbsp;&nbsp; 240000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 585725 |
| <sup>a</sup> | Ambipar Participacoes e Empreendimentos SA | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp; 4800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 144233 |
|  | Auren Energia SA | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp; 16000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29814 |
|  | B3 SA - Brasil Bolsa Balcao | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp; 288000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 769358 |
|  | Banco Bradesco SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216938 |
|  | Banco BTG Pactual SA | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500852 |
|  | Banco do Brasil SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382073 |
|  | Banco Santander Brasil SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121853 |
|  | BB Seguridade Participacoes SA | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230889 |
| <sup>a</sup> | Brava Energia | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71413 |
|  | BRF SA | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153508 |
|  | Caixa Seguridade Participacoes SA | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90436 |
|  | Centrais Eletricas Brasileiras SA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;471629 |
|  | Cia de Saneamento Basico do Estado de Sao Paulo SABESP | &nbsp;&nbsp;Water Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550047 |
|  | Cia Energetica de Minas Gerais | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8959 |
|  | Cia Paranaense de Energia - Copel | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92291 |
|  | Cia Siderurgica Nacional SA | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45803 |
| <sup>a</sup> | Cosan SA | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82453 |
|  | CPFL Energia SA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71870 |
|  | CSN Mineracao SA | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21811 |
|  | Embraer SA | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540411 |
|  | Energisa SA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141653 |
| <sup>a</sup> | Eneva SA | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128050 |
|  | Engie Brasil Energia SA | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119810 |
|  | Equatorial Energia SA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;368966 |
| <sup>b</sup> | GPS Participacoes e Empreendimentos SA | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64887 |
|  | Grupo Mateus SA | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40716 |
| <sup>a,b</sup> | Hapvida Participacoes e Investimentos SA | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118831 |
|  | Hypera SA | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83196 |
|  | Itau Unibanco Holding SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164410 |
|  | Klabin SA | &nbsp;&nbsp;Containers & Packaging | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167670 |
|  | Localiza Rent a Car SA | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;356360 |
|  | Lojas Renner SA | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207695 |
|  | M Dias Branco SA | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28143 |
|  | Marfrig Global Foods SA | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60419 |
|  | Motiva Infraestrutura de Mobilidade SA | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165747 |
|  | Multiplan Empreendimentos Imobiliarios SA | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87744 |
| <sup>a</sup> | Natura & Co. Holding SA | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100420 |
|  | Neoenergia SA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52451 |
|  | Petroleo Brasileiro SA - Petrobras | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1274819 |
|  | Porto Seguro SA | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97093 |
| <sup>a</sup> | PRIO SA | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335605 |
|  | Raia Drogasil SA | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195031 |
| <sup>b</sup> | Rede D'Or Sao Luiz SA | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;353042 |
|  | Rumo SA | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228151 |
|  | Santos Brasil Participacoes SA | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89196 |
|  | Sao Martinho SA | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25754 |
|  | Sendas Distribuidora SA | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151843 |
|  | SLC Agricola SA | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31105 |
|  | Smartfit Escola de Ginastica e Danca SA | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87384 |
|  | Suzano SA | &nbsp;&nbsp;Paper & Forest Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;353732 |
|  | Telefonica Brasil SA | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241105 |
|  | TIM SA | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180994 |
|  | TOTVS SA | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228147 |
|  | Transmissora Alianca de Energia Eletrica SA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51200 |
|  | Ultrapar Participacoes SA | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128549 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| <sup>a</sup> | Usinas Siderurgicas de Minas Gerais SA Usiminas | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 4800 | &nbsp;&nbsp; 3641 |
|  | Vale SA | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 197790 | &nbsp;&nbsp; 1908012 |
|  | Vibra Energia SA | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp; 60800 | &nbsp;&nbsp; 241291 |
|  | WEG SA | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp; 82000 | &nbsp;&nbsp; 642737 |
|  |  |  |  | &nbsp;&nbsp;14658922 |
|  | **Chile 6.9%** |  |  |  |
|  | Aguas Andinas SA, Class A | &nbsp;&nbsp;Water Utilities | &nbsp;&nbsp; 142816 | &nbsp;&nbsp; 52021 |
|  | Banco de Chile | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 2457264 | &nbsp;&nbsp; 370923 |
|  | Banco de Credito e Inversiones SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 4288 | &nbsp;&nbsp; 180721 |
|  | Banco Itau Chile SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45109 |
|  | Banco Santander Chile | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;3379424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211833 |
|  | Cencosud SA | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238270 |
|  | Cencosud Shopping SA | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54325 |
|  | Cia Cervecerias Unidas SA | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45011 |
|  | Cia Sud Americana de Vapores SA | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35968 |
|  | Colbun SA | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;399104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64088 |
|  | Empresas CMPC SA | &nbsp;&nbsp;Paper & Forest Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93316 |
|  | Empresas Copec SA | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147674 |
|  | Enel Americas SA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;1049056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101992 |
|  | Enel Chile SA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;1369904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101236 |
|  | Falabella SA | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244873 |
|  | Latam Airlines Group SA | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp;11549856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233367 |
|  | Plaza SA | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79640 |
|  | Quinenco SA | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61314 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;2361681 |
|  | **Colombia 0.8%** |  |  |  |
|  | Cementos Argos SA | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77257 |
|  | Ecopetrol SA | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111554 |
|  | Interconexion Electrica SA ESP | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102885 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;291696 |
|  | **Mexico 29.6%** |  |  |  |
|  | Alfa SAB de CV, Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156706 |
|  | Alpek SAB de CV | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10828 |
| <sup>a</sup> | Alsea SAB de CV | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72492 |
|  | America Movil SAB de CV | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;865088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;768377 |
|  | Arca Continental SAB de CV | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;507436 |
| <sup>b</sup> | Banco del Bajio SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106428 |
|  | Becle SAB de CV | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31652 |
|  | Cemex SAB de CV | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;834768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;572213 |
|  | Coca-Cola Femsa SAB de CV | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278870 |
|  | Concentradora Fibra Danhos SA de CV | &nbsp;&nbsp;Diversified REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17035 |
| <sup>a</sup> | Controladora Alpek SAB de CV | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37725 |
|  | Corp. Inmobiliaria Vesta SAB de CV | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126921 |
|  | El Puerto de Liverpool SAB de CV, Class C1 | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59129 |
|  | Fibra Uno Administracion SA de CV | &nbsp;&nbsp;Diversified REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209731 |
|  | Fomento Economico Mexicano SAB de CV | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;709641 |
|  | Gentera SAB de CV | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126441 |
|  | Gruma SAB de CV, Class B | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156298 |
|  | Grupo Aeroportuario del Centro Norte SAB de CV | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196031 |
|  | Grupo Aeroportuario del Pacifico SAB de CV, Class B | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;513265 |
|  | Grupo Aeroportuario del Sureste SAB de CV, Class B | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258747 |
|  | Grupo Bimbo SAB de CV | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185680 |
|  | Grupo Carso SAB de CV | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210966 |
|  | Grupo Comercial Chedraui SA de CV | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109534 |
|  | Grupo Financiero Banorte SAB de CV, Class O | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159056 | &nbsp;&nbsp;&nbsp;&nbsp;1444066 |
|  | Grupo Financiero Inbursa SAB de CV, Class O | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251851 |
|  | Grupo Mexico SAB de CV, Class B | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;945282 |
| <sup>a</sup> | Industrias Penoles SAB de CV | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285896 |
|  | Kimberly-Clark de Mexico SAB de CV, Class A | &nbsp;&nbsp;Household Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158108 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Megacable Holdings SAB de CV | &nbsp;&nbsp;Media | &nbsp;&nbsp; 41616 | &nbsp;&nbsp; 115847 |
| <sup>c</sup> | Operadora De Sites Mexicanos SAB de CV, Class A-1 | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp; 55840 | &nbsp;&nbsp; 50632 |
|  | Orbia Advance Corp. SAB de CV | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 47472 | &nbsp;&nbsp; 32842 |
|  | Prologis Property Mexico SA de CV | &nbsp;&nbsp;Industrial REITs | &nbsp;&nbsp; 57904 | &nbsp;&nbsp; 217370 |
|  | Promotora y Operadora de Infraestructura SAB de CV | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp; 9632 | &nbsp;&nbsp; 107797 |
|  | Qualitas Controladora SAB de CV | &nbsp;&nbsp;Insurance | &nbsp;&nbsp; 11024 | &nbsp;&nbsp; 112440 |
|  | Regional SAB de CV | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 13872 | &nbsp;&nbsp; 113901 |
|  | Wal-Mart de Mexico SAB de CV, Class V | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp; 280832 | &nbsp;&nbsp; 923868 |
|  |  |  |  | &nbsp;&nbsp;10182046 |
|  | **United States 0.3%** |  |  |  |
|  | GCC SAB de CV | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86780 |
|  | **Total Common Stocks (Cost $22,571,825)** |  |  | &nbsp;&nbsp;27581125 |
|  | **Preferred Stocks 18.7%** |  |  |  |
|  | **Brazil 16.7%** |  |  |  |
| <sup>d</sup> | Banco Bradesco SA, 4.783%, pfd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;878218 |
| <sup>d</sup> | Bradespar SA, 11.86%, pfd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36820 |
| <sup>a</sup> | Braskem SA, pfd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18612 |
| <sup>d</sup> | Centrais Eletricas Brasileiras SA, 4.355%, pfd. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104152 |
| <sup>d</sup> | Cia Energetica de Minas Gerais, 16.667%, pfd. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174135 |
| <sup>d</sup> | Cia Paranaense de Energia - Copel, Class B, 6.188%, pfd. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130110 |
| <sup>d</sup> | Gerdau SA, 4%, pfd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211072 |
| <sup>d</sup> | Isa Energia Brasil SA, 8.658%, pfd. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67954 |
| <sup>d</sup> | Itau Unibanco Holding SA, 6.217%, pfd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;292800 | &nbsp;&nbsp;&nbsp;&nbsp;1982275 |
| <sup>d</sup> | Itausa SA, 7.489%, pfd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;313600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629171 |
| <sup>d</sup> | Metalurgica Gerdau SA, 3.807%, pfd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54976 |
| <sup>d</sup> | Petroleo Brasileiro SA - Petrobras, 10.108%, pfd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251200 | &nbsp;&nbsp;&nbsp;&nbsp;1444279 |
| <sup>a</sup> | Usinas Siderurgicas de Minas Gerais SA Usiminas, pfd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18117 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;5749891 |
|  | **Chile 1.1%** |  |  |  |
| <sup>d</sup> | Embotelladora Andina SA, 5.933%, pfd. | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89065 |
| <sup>d</sup> | Sociedad Quimica y Minera de Chile SA, Class B, 0.001%, pfd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277145 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366210 |
|  | **Colombia 0.9%** |  |  |  |
| <sup>d</sup> | Grupo Cibest SA, 9.801%, pfd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272463 |
| <sup>d</sup> | Grupo de Inversiones Suramericana SA, 3.79%, pfd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50661 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;323124 |
|  | **Total Preferred Stocks (Cost $5,163,077)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;6439225 |
|  | **Total Investments before Short-Term Investments (Cost $27,734,902)** |  |  | &nbsp;&nbsp;34020350 |
|  | **Short-Term Investments 0.1%** |  |  |  |
|  | **Investments from Cash Collateral<br> Received for Loaned Securities 0.1%** |  |  |  |
|  | **United States 0.1%** |  |  |  |
| <sup>e,f</sup> | Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45885 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Money Market Funds 0.0%<sup>†</sup>** |  |  |
|  | **United States 0.0%<sup>†</sup>** |  |  |
| <sup>e,f</sup> | Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7861 |
|  | **Total Short-Term Investments (Cost $53,746)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53746 |
|  | **Total Investments (Cost $27,788,648) 99.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34074096 |
|  | **Other Assets, less Liabilities 1.0%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;339243 |
|  | **Net Assets 100.0%** |  | &nbsp;&nbsp;$34413339 |

---

---

| |
|:---|
| <sup>†</sup>Rounds to less than 0.1% of net assets. |
| <sup>a</sup>Non-income producing. |
| <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional buyers or in a public offering registered under the Securities Act of 1933. At June 30, 2025, the aggregate value of these securities was $643,188, representing 1.9% of net assets. |
| <sup>c</sup>A portion or all of the security is on loan at June 30, 2025. |
| <sup>d</sup>Variable rate security. The rate shown represents the yield at period end. |
| <sup>e</sup>The rate shown is the annualized seven-day effective yield at period end. |
| <sup>f</sup>See Note 3 regarding investments in affiliated management investment companies. |

---

At June 30, 2025, the Fund had the following futures contracts outstanding.

#### Futures Contracts

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Type** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Notional<br> Amount\*** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value/Unrealized<br> Appreciation<br> (Depreciation)** |
| **Equity Contracts** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Bovespa Index | &nbsp;&nbsp;Long | &nbsp;&nbsp;10 | &nbsp;&nbsp;$258715 | &nbsp;&nbsp;8/13/25 | &nbsp;&nbsp;$(2897) |
| **Index Contracts** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Mex Bolsa Index | &nbsp;&nbsp;Long | &nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154079 | &nbsp;&nbsp;9/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (857) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Futures Contracts |  |  |  |  | &nbsp;&nbsp;$(3754) |

---

\*As of period end.

#### Abbreviations

---

| | |
|:---|:---|
| **Selected Portfolio** |  |
| **REIT** | Real Estate Investment Trust |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Franklin FTSE Mexico ETF** | &nbsp;&nbsp;**Industry** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
|  | **Common Stocks 99.9%** |  |  |  |
|  | **Mexico 98.9%** |  |  |  |
|  | Alfa SAB de CV, Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;1317802 | &nbsp;&nbsp;$966797 |
|  | Alpek SAB de CV | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 129466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70037 |
| <sup>a</sup> | Alsea SAB de CV | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp; 166478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 449240 |
|  | America Movil SAB de CV | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;4420730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3926522 |
|  | Arca Continental SAB de CV | &nbsp;&nbsp;Beverages | &nbsp;&nbsp; 235372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2470957 |
| <sup>b</sup> | Banco del Bajio SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 274626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 659236 |
|  | Becle SAB de CV | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;163476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195995 |
|  | Cemex SAB de CV | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;4408418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3021862 |
|  | Coca-Cola Femsa SAB de CV | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;176548 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1699130 |
|  | Concentradora Fibra Danhos SA de CV | &nbsp;&nbsp;Diversified REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110424 |
| <sup>a</sup> | Controladora Alpek SAB de CV | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;1424354 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233723 |
|  | Corp. Inmobiliaria Vesta SAB de CV | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;289028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;788968 |
|  | El Puerto de Liverpool SAB de CV, Class C1 | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366027 |
|  | Fibra Uno Administracion SA de CV | &nbsp;&nbsp;Diversified REITs | &nbsp;&nbsp;&nbsp;&nbsp;944186 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1295432 |
|  | Fomento Economico Mexicano SAB de CV | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;355490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3635437 |
|  | Gentera SAB de CV | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp;&nbsp;&nbsp;369018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;783079 |
|  | Gruma SAB de CV, Class B | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;968397 |
|  | Grupo Aeroportuario del Centro Norte SAB de CV | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1208309 |
|  | Grupo Aeroportuario del Pacifico SAB de CV, Class B | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;109060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2486524 |
|  | Grupo Aeroportuario del Sureste SAB de CV, Class B | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1600173 |
|  | Grupo Bimbo SAB de CV | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;415112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1150281 |
|  | Grupo Carso SAB de CV | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;183768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1301317 |
|  | Grupo Comercial Chedraui SA de CV | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;678529 |
|  | Grupo Financiero Banorte SAB de CV, Class O | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;771818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7007316 |
|  | Grupo Financiero Inbursa SAB de CV, Class O | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;606556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1555239 |
|  | Grupo Mexico SAB de CV, Class B | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;790932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4758487 |
| <sup>a</sup> | Industrias Penoles SAB de CV | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1717975 |
|  | Kimberly-Clark de Mexico SAB de CV, Class A | &nbsp;&nbsp;Household Products | &nbsp;&nbsp;&nbsp;&nbsp;537168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;976126 |
|  | Megacable Holdings SAB de CV | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;257792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;717620 |
| <sup>c</sup> | Operadora De Sites Mexicanos SAB de CV, Class A-1 | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;347434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315030 |
|  | Orbia Advance Corp. SAB de CV | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;294120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203480 |
|  | Prologis Property Mexico SA de CV | &nbsp;&nbsp;Industrial REITs | &nbsp;&nbsp;&nbsp;&nbsp;357922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1343628 |
|  | Promotora y Operadora de Infraestructura SAB de CV | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;667685 |
|  | Qualitas Controladora SAB de CV | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;696099 |
|  | Regional SAB de CV | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;706087 |
|  | Wal-Mart de Mexico SAB de CV, Class V | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;1406114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4625767 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55356935 |
|  | **United States 1.0%** |  |  |  |
|  | GCC SAB de CV | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;537818 |
|  | **Total Common Stocks (Cost $56,498,258)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55894753 |
|  | **Total Investments before Short-Term Investments (Cost $56,498,258)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55894753 |
|  | **Short-Term Investments 0.4%** |  |  |  |
|  | **Investments from Cash Collateral Received for<br> Loaned Securities 0.4%** |  |  |  |
|  | **United States 0.4%** |  |  |  |
| <sup>d,e</sup> | Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;233340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233340 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Money Market Funds 0.0%<sup>†</sup>** |  |  |
|  | **United States 0.0%<sup>†</sup>** |  |  |
| <sup>d,e</sup> | Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3088 |
|  | **Total Short-Term Investments (Cost $236,428)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236428 |
|  | **Total Investments (Cost $56,734,686) 100.3%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56131181 |
|  | **Other Assets, less Liabilities (0.3)%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(163284) |
|  | **Net Assets 100.0%** |  | &nbsp;&nbsp;$55967897 |

---

---

| |
|:---|
| <sup>†</sup>Rounds to less than 0.1% of net assets. |
| <sup>a</sup>Non-income producing. |
| <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional buyers or in a public offering registered under the Securities Act of 1933. At June 30, 2025, the value of this security was $659,236, representing 1.2% of net assets. |
| <sup>c</sup>A portion or all of the security is on loan at June 30, 2025. |
| <sup>d</sup>The rate shown is the annualized seven-day effective yield at period end. |
| <sup>e</sup>See Note 3 regarding investments in affiliated management investment companies. |

---

At June 30, 2025, the Fund had the following futures contracts outstanding.

#### Futures Contracts

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Type** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Notional<br> Amount\*** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value/Unrealized<br> Appreciation<br> (Depreciation)** |
| **Index Contracts** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Mex Bolsa Index | &nbsp;&nbsp;Long | &nbsp;&nbsp;2 | &nbsp;&nbsp;$61631 | &nbsp;&nbsp;9/19/25 | &nbsp;&nbsp;$(73) |

---

\*As of period end.

#### Abbreviations

---

| | |
|:---|:---|
| **Selected Portfolio** |  |
| **REIT** | Real Estate Investment Trust |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Franklin FTSE Russia ETF** | &nbsp;&nbsp;**Industry** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
|  | **Common Stocks 0.0%** |  |  |  |
| <sup>a,b</sup> | **Russia 0.0%** |  |  |  |
|  | Aeroflot PJSC | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp; 174496 | &nbsp;&nbsp;$— |
|  | Alrosa PJSC | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 361232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
|  | Credit Bank of Moscow PJSC | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 2127840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
|  | Federal Grid Co-Rosseti PJSC | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;80095477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
|  | Gazprom PJSC | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 981872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
|  | GMK Norilskiy Nickel PAO | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 288800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
|  | Inter RAO UES PJSC | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;6229280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | LUKOIL PJSC | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | M.Video PJSC | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Magnit PJSC | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Magnitogorsk Iron & Steel Works PJSC | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Mobile TeleSystems PJSC | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Moscow Exchange MICEX-RTS PJSC | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Mosenergo PJSC | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;1418704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Novatek PJSC | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Novolipetsk Steel PJSC | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | PhosAgro PJSC | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Polyus PJSC | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Raspadskaya OJSC | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Rosneft Oil Co. PJSC | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Rostelecom PJSC | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | RusHydro PJSC | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;20149712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Sberbank of Russia PJSC | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;959968 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Segezha Group PJSC | &nbsp;&nbsp;Paper & Forest Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;666096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Severstal PAO | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Sistema AFK PAO | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Sovcomflot PJSC | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Surgutneftegas PAO | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;634480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Tatneft PJSC | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Unipro PJSC | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;1811376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | United Co. RUSAL International PJSC | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;447600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | VTB Bank PJSC | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | **Total Common Stocks (Cost $21,363,101)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | **Preferred Stocks 0.0%** |  |  |  |
| <sup>a,b</sup> | **Russia 0.0%** |  |  |  |
|  | Bashneft PJSC, pfd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Surgutneftegas PAO, pfd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;682080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Tatneft PJSC, pfd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Transneft PJSC, pfd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | **Total Preferred Stocks (Cost $1,113,686)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | **Total Investments (Cost $22,476,787) 0.0%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | **Other Assets, less Liabilities 100.0%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4769 |
|  | **Net Assets 100.0%** |  |  | &nbsp;&nbsp;$4769 |

---

<sup>a</sup>Non-income producing. <br> <sup>b</sup>Fair valued using significant unobservable inputs. See Note 5 regarding fair value measurements.

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Franklin FTSE Saudi Arabia ETF** | &nbsp;&nbsp;**Industry** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
|  | **Common Stocks 100.0%** |  |  |  |
|  | **Saudi Arabia 100.0%** |  |  |  |
|  | Abdullah Al Othaim Markets Co. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp; 23903 | &nbsp;&nbsp;$49584 |
| <sup>a</sup> | ACWA Power Co. | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp; 11715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 799637 |
|  | Ades Holding Co. | &nbsp;&nbsp;Energy Equipment & Services | &nbsp;&nbsp; 18436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67344 |
| <sup>a</sup> | Advanced Petrochemical Co. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 6864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 56698 |
|  | Al Rajhi Bank | &nbsp;&nbsp;Banks | &nbsp;&nbsp;106260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2680228 |
| <sup>a</sup> | Al Rajhi Co. for Co-operative Insurance | &nbsp;&nbsp;Insurance | &nbsp;&nbsp; 2651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 90899 |
|  | Aldrees Petroleum & Transport Services Co. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90051 |
|  | Alinma Bank | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;66407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;474880 |
|  | Almarai Co. JSC | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;26554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358962 |
|  | Arab National Bank | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;47949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277684 |
| <sup>b</sup> | Arabian Centres Co. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;12617 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65297 |
| <sup>a</sup> | Arabian Contracting Services Co. | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28977 |
|  | Arabian Drilling Co. | &nbsp;&nbsp;Energy Equipment & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1452 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30933 |
|  | Arabian Internet & Communications Services Co. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93760 |
|  | Astra Industrial Group Co. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2013 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86306 |
|  | Bank AlBilad | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;39842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;279600 |
| <sup>a</sup> | Bank Al-Jazira | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;34034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116608 |
|  | Banque Saudi Fransi | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;65890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;313770 |
|  | BinDawood Holding Co. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;13508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21970 |
|  | Bupa Arabia for Cooperative Insurance Co. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199540 |
|  | Catrion Catering Holding Co. | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70151 |
|  | Co. for Cooperative Insurance | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3982 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167753 |
|  | Dallah Healthcare Co. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87334 |
| <sup>a</sup> | Dar Al Arkan Real Estate Development Co. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;28688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146863 |
|  | Dr. Soliman Abdel Kader Fakeeh Hospital Co. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2871 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31140 |
|  | Dr. Sulaiman Al Habib Medical Services Group Co. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;399298 |
|  | Elm Co. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1309 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349544 |
| <sup>a</sup> | Emaar Economic City | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32339 |
|  | Etihad Etisalat Co. | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;20449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;323324 |
|  | Jamjoom Pharmaceuticals Factory Co. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68578 |
|  | Jarir Marketing Co. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;31878 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106586 |
|  | Leejam Sports Co. JSC | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46373 |
|  | Mobile Telecommunications Co. Saudi Arabia | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;23870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68482 |
|  | Mouwasat Medical Services Co. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100023 |
|  | Nahdi Medical Co. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88391 |
| <sup>a</sup> | National Industrialization Co., Class C | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;17765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45472 |
|  | Power & Water Utility Co. for Jubail & Yanbu | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46858 |
|  | Qassim Cement Co. | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39378 |
| <sup>a</sup> | Rabigh Refining & Petrochemical Co. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;22649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43601 |
|  | Riyad Bank | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;79563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;609690 |
|  | Riyadh Cables Group Co. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3982 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150128 |
|  | SABIC Agri-Nutrients Co. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;12650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;361573 |
|  | Sahara International Petrochemical Co. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;19261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101787 |
|  | SAL Saudi Logistics Services | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105805 |
| <sup>a</sup> | Saudi Arabian Mining Co. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;71269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1018536 |
| <sup>b</sup> | Saudi Arabian Oil Co. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;322201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2089302 |
|  | Saudi Aramco Base Oil Co. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74037 |
|  | Saudi Awwal Bank | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;53757 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483032 |
|  | Saudi Basic Industries Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;48796 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;711026 |
|  | Saudi Cement Co. | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42836 |
|  | Saudi Electricity Co. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;42383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166119 |
|  | Saudi Ground Services Co. | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63183 |
|  | Saudi Industrial Investment Group | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;18051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80713 |
|  | Saudi Investment Bank | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;33209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128568 |
| <sup>a</sup> | Saudi Kayan Petrochemical Co. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;39842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54922 |
|  | Saudi National Bank | &nbsp;&nbsp;Banks | &nbsp;&nbsp;157916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1520844 |
| <sup>a</sup> | Saudi Real Estate Co. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38325 |
| <sup>a</sup> | Saudi Research & Media Group | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109476 |
|  | Saudi Tadawul Group Holding Co. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122617 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Saudi Telecom Co. | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;102289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1160212 |
|  | Saudia Dairy & Foodstuff Co. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp; 825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60184 |
| <sup>a</sup> | Savola Group | &nbsp;&nbsp;Food Products | &nbsp;&nbsp; 7964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 58905 |
| <sup>a</sup> | Seera Group Holding | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp; 7447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50395 |
|  | United Electronics Co. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp; 2035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47884 |
|  | Yamama Cement Co. | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp; 5379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48849 |
|  | Yanbu National Petrochemical Co. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 14938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 120285 |
|  | **Total Common Stocks (Cost $17,193,982)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18023449 |
|  | **Total Investments before Short-Term Investments (Cost $17,193,982)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18023449 |
|  | **Short-Term Investments 0.0%<sup>†</sup>** |  |  |  |
|  | **Money Market Funds 0.0%<sup>†</sup>** |  |  |  |
|  | **United States 0.0%<sup>†</sup>** |  |  |  |
| <sup>c,d</sup> | Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157 |
|  | **Total Short-Term Investments (Cost $157)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157 |
|  | **Total Investments (Cost $17,194,139) 100.0%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18023606 |
|  | **Other Assets, less Liabilities (0.0)%<sup>†</sup>** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2563) |
|  | **Net Assets 100.0%** |  |  | &nbsp;&nbsp;$18021043 |

---

---

| |
|:---|
| <sup>†</sup>Rounds to less than 0.1% of net assets. |
| <sup>a</sup>Non-income producing. |
| <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional buyers or in a public offering registered under the Securities Act of 1933. At June 30, 2025, the aggregate value of these securities was $2,154,599, representing 12.0% of net assets. |
| <sup>c</sup>The rate shown is the annualized seven-day effective yield at period end. |
| <sup>d</sup>See Note 3 regarding investments in affiliated management investment companies. |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Franklin FTSE South Korea ETF** | &nbsp;&nbsp;**Industry** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
|  | **Common Stocks 96.1%** |  |  |  |
|  | **South Korea 96.1%** |  |  |  |
| <sup>a</sup> | Alteogen, Inc., Class A | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp; 6968 | &nbsp;&nbsp;$1920640 |
|  | Amorepacific Corp., Class H | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp; 5159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 522551 |
|  | Amorepacific Holdings Corp., Class A | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp; 4154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97725 |
|  | BGF retail Co. Ltd. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp; 1474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 132153 |
|  | BNK Financial Group, Inc., Class H | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 44756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 412872 |
| <sup>a</sup> | Celltrion Pharm, Inc., Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp; 3484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 128172 |
|  | Celltrion, Inc., Class A | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;26264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3105909 |
|  | Cheil Worldwide, Inc., Class A | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;12261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182153 |
|  | CJ CheilJedang Corp., Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;259590 |
|  | CJ Corp., Class A | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278877 |
|  | CJ Logistics Corp., Class A | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104134 |
| <sup>a</sup> | CosmoAM&T Co. Ltd. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3953 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99147 |
|  | Coway Co. Ltd. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;677586 |
|  | DB Insurance Co. Ltd., Class A | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710053 |
|  | Dongsuh Cos., Inc., Class A | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114202 |
|  | Doosan Bobcat, Inc., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;364052 |
| <sup>a</sup> | Doosan Enerbility Co. Ltd., Class H | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;78457 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3976333 |
| <sup>a</sup> | Ecopro BM Co. Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;639260 |
|  | Ecopro Co. Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;17822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;596224 |
| <sup>a</sup> | Ecopro Materials Co. Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4489 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151008 |
|  | E-MART, Inc., Class A | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211981 |
|  | F&F Co. Ltd. | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141189 |
|  | Green Cross Corp. | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87781 |
|  | GS Engineering & Construction Corp. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;11658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179241 |
|  | GS Holdings Corp. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268645 |
|  | GS Retail Co. Ltd. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75539 |
|  | Hana Financial Group, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;49379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3157534 |
|  | Hanjin Kal Corp. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;463569 |
|  | Hankook Tire & Technology Co. Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;12194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;359152 |
|  | Hanmi Pharm Co. Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1072 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227173 |
|  | Hanmi Science Co. Ltd. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115651 |
|  | Hanmi Semiconductor Co. Ltd. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;562073 |
| <sup>a</sup> | Hanon Systems | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;27805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63867 |
|  | Hanwha Aerospace Co. Ltd. | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3369757 |
|  | Hanwha Corp. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337065 |
| <sup>a</sup> | Hanwha Life Insurance Co. Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;48441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118267 |
| <sup>a</sup> | Hanwha Ocean Co. Ltd., Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;17621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1036683 |
|  | Hanwha Solutions Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;18760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;439253 |
| <sup>a</sup> | Hanwha Vision Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221801 |
|  | HD Hyundai Co. Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;707184 |
|  | HD Hyundai Electric Co. Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1459841 |
|  | HD Hyundai Heavy Industries Co. Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1233811 |
|  | HD Hyundai Marine Solution Co. Ltd., Class C | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367269 |
|  | HD Hyundai Mipo | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;628497 |
|  | HD Korea Shipbuilding & Offshore Engineering Co. Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7973 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2162210 |
|  | Hite Jinro Co. Ltd. | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82837 |
|  | HL Mando Co. Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138619 |
| <sup>a</sup> | HLB, Inc. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;21172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;770262 |
|  | HMM Co. Ltd. | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp;&nbsp;&nbsp;51858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;864556 |
| <sup>a</sup> | Hotel Shilla Co. Ltd. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213029 |
|  | HYBE Co. Ltd. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;889726 |
|  | Hyundai Autoever Corp. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152448 |
|  | Hyundai Engineering & Construction Co. Ltd. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;12864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;748240 |
|  | Hyundai Glovis Co. Ltd. | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6633 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;662514 |
| <sup>a</sup> | Hyundai Marine & Fire Insurance Co. Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;10251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200903 |
|  | Hyundai Mobis Co. Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;10452 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2222676 |
|  | Hyundai Motor Co. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;24321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3667252 |
|  | Hyundai Steel Co. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;14874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;324019 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | iM Financial Group Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 25527 | &nbsp;&nbsp; 237755 |
|  | Industrial Bank of Korea | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 44421 | &nbsp;&nbsp; 601013 |
|  | Kakao Corp. | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp; 54471 | &nbsp;&nbsp; 2421651 |
| <sup>a</sup> | Kakao Games Corp. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp; 6566 | &nbsp;&nbsp; 93022 |
|  | KakaoBank Corp. | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 33500 | &nbsp;&nbsp; 744665 |
| <sup>a</sup> | Kakaopay Corp. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp; 5092 | &nbsp;&nbsp; 289387 |
|  | Kangwon Land, Inc. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp; 20368 | &nbsp;&nbsp; 276181 |
|  | KB Financial Group, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 65057 | &nbsp;&nbsp; 5345896 |
|  | KCC Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 737 | &nbsp;&nbsp; 170379 |
|  | KEPCO Plant Service & Engineering Co. Ltd. | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173050 |
|  | Kia Corp. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;42813 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3073933 |
|  | Korea Aerospace Industries Ltd. | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;12462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;829199 |
|  | Korea Electric Power Corp. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;45694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1330597 |
|  | Korea Gas Corp. | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144738 |
|  | Korea Investment Holdings Co. Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;755408 |
|  | Korea Zinc Co. Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;804 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;487905 |
|  | Korean Air Lines Co. Ltd. | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp;&nbsp;&nbsp;32696 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;554785 |
| <sup>a</sup> | Krafton, Inc. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1315525 |
|  | KT&G Corp. | &nbsp;&nbsp;Tobacco | &nbsp;&nbsp;&nbsp;&nbsp;18291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1730706 |
|  | Kumho Petrochemical Co. Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223002 |
| <sup>a</sup> | L&F Co. Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161533 |
|  | LG Chem Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1280973 |
|  | LG Corp. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;15209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;897034 |
| <sup>a</sup> | LG Display Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;51322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340727 |
|  | LG Electronics, Inc. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;18760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1025851 |
| <sup>a</sup> | LG Energy Solution Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1607136 |
|  | LG H&H Co. Ltd. | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396534 |
|  | LG Innotek Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270750 |
|  | LG Uplus Corp. | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;37453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396842 |
|  | Lotte Chemical Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140116 |
|  | Lotte Corp. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103508 |
|  | Lotte Shopping Co. Ltd. | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110508 |
|  | LS Corp. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440097 |
|  | LS Electric Co. Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;593746 |
|  | Meritz Financial Group, Inc. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;13400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1116998 |
|  | Mirae Asset Securities Co. Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;34371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;546279 |
|  | Misto Holdings Corp. | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170379 |
|  | NAVER Corp. | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;26532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5160529 |
|  | NCSoft Corp. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348553 |
| <sup>b</sup> | Netmarble Corp. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212379 |
|  | NH Investment & Securities Co. Ltd., Class C | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;23651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350314 |
|  | NongShim Co. Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156082 |
|  | Orion Corp. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;313276 |
|  | Otoki Corp. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78239 |
|  | Pan Ocean Co. Ltd. | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp;&nbsp;&nbsp;42880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118034 |
| <sup>a</sup> | Pearl Abyss Corp. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165897 |
|  | Posco DX Co. Ltd. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164147 |
| <sup>a</sup> | POSCO Future M Co. Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483834 |
|  | POSCO Holdings, Inc. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;12596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2435948 |
|  | Posco International Corp. | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301014 |
|  | S-1 Corp. | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180497 |
| <sup>a,b</sup> | Samsung Biologics Co. Ltd. | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2374890 |
|  | Samsung C&T Corp. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;13400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1602519 |
|  | Samsung Card Co. Ltd. | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152051 |
|  | Samsung E&A Co. Ltd. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;26733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;437759 |
|  | Samsung Electro-Mechanics Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;976316 |
|  | Samsung Electronics Co. Ltd. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;619214 | &nbsp;&nbsp;&nbsp;&nbsp;27437016 |
|  | Samsung Fire & Marine Insurance Co. Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1766743 |
| <sup>a</sup> | Samsung Heavy Industries Co. Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;112426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1396162 |
|  | Samsung Life Insurance Co. Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;13936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1315535 |
|  | Samsung SDI Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;10787 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1381145 |
|  | Samsung SDS Co. Ltd. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;884066 |
|  | Samsung Securities Co. Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;11055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;602881 |
|  | Shinhan Financial Group Co. Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;77653 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3532820 |
| <sup>a</sup> | SK Biopharmaceuticals Co. Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;342546 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| <sup>a</sup> | SK Bioscience Co. Ltd. | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp; 4690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 165936 |
|  | SK Hynix, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 96145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20801971 |
| <sup>a,b</sup> | SK IE Technology Co. Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp; 4824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96151 |
|  | SK Innovation Co. Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 11055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1002617 |
| <sup>a</sup> | SK Square Co. Ltd. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp; 15946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2162210 |
|  | SK, Inc. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp; 8308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1258881 |
| <sup>a</sup> | SKC Co. Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 3283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 268070 |
|  | S-Oil Corp. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 7303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 324133 |
|  | Woori Financial Group, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;120600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2006128 |
|  | Yuhan Corp. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;755249 |
|  | **Total Common Stocks (Cost $112,173,722)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157315101 |
|  | **Preferred Stocks 3.5%** |  |  |  |
|  | **South Korea 3.5%** |  |  |  |
| <sup>c</sup> | Amorepacific Corp., 2.536%, pfd. | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53080 |
| <sup>c</sup> | CJ CheilJedang Corp., 4.456%, pfd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21893 |
| <sup>c</sup> | Hanwha Corp., 2.12%, pfd. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101528 |
| <sup>c</sup> | Hyundai Motor Co., 7.93%, pfd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725741 |
| <sup>c</sup> | Hyundai Motor Co., 8.123%, pfd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;444863 |
| <sup>c</sup> | LG Chem Ltd., 0.984%, pfd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111238 |
| <sup>c</sup> | LG Electronics, Inc., 1.507%, pfd. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83353 |
| <sup>c</sup> | LG H&H Co. Ltd., 2.7%, pfd. | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39169 |
| <sup>c</sup> | Samsung Electronics Co. Ltd., 2.931%, pfd. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;107468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3941661 |
| <sup>c</sup> | Samsung Fire & Marine Insurance Co. Ltd., 5.866%, pfd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112593 |
| <sup>c</sup> | Samsung SDI Co. Ltd., 0.994%, pfd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20215 |
|  | **Total Preferred Stocks (Cost $5,225,403)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5655334 |
|  | **Rights 0.0%<sup>†</sup>** |  |  |  |
|  | **South Korea 0.0%<sup>†</sup>** |  |  |  |
| <sup>a</sup> | Hanwha Aerospace Co. Ltd. | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43746 |
| <sup>a</sup> | POSCO Future M Co. Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12849 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56595 |
|  | **Total Rights (Cost $0)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56595 |
|  | **Total Investments before Short-Term Investments (Cost $117,399,125)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163027030 |
|  | **Short-Term Investments 0.0%<sup>†</sup>** |  |  |  |
|  | **Money Market Funds 0.0%<sup>†</sup>** |  |  |  |
|  | **United States 0.0%<sup>†</sup>** |  |  |  |
| <sup>d,e</sup> | Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;715 |
|  | **Total Short-Term Investments (Cost $715)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;715 |
|  | **Total Investments (Cost $117,399,840) 99.6%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163027745 |
|  | **Other Assets, less Liabilities 0.4%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625326 |
|  | **Net Assets 100.0%** |  |  | &nbsp;&nbsp;$163653071 |

---

---

| |
|:---|
| <sup>†</sup>Rounds to less than 0.1% of net assets. |
| <sup>a</sup>Non-income producing. |
| <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional buyers or in a public offering registered under the Securities Act of 1933. At June 30, 2025, the aggregate value of these securities was $2,683,420, representing 1.6% of net assets. |
| <sup>c</sup>Variable rate security. The rate shown represents the yield at period end. |
| <sup>d</sup>The rate shown is the annualized seven-day effective yield at period end. |
| <sup>e</sup>See Note 3 regarding investments in affiliated management investment companies. |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

At June 30, 2025, the Fund had the following futures contracts outstanding.

#### Futures Contracts

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Type** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Notional<br> Amount\*** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value/Unrealized<br> Appreciation<br> (Depreciation)** |
| **Index Contracts** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Kospi 200 Mini | &nbsp;&nbsp;Long | &nbsp;&nbsp;3 | &nbsp;&nbsp;$231263 | &nbsp;&nbsp;9/11/25 | &nbsp;&nbsp;$16891 |

---

\*As of period end.

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Franklin FTSE Switzerland ETF** | &nbsp;&nbsp;**Industry** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
|  | **Common Stocks 97.9%** |  |  |  |
|  | **Switzerland 94.0%** |  |  |  |
|  | ABB Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;37856 | &nbsp;&nbsp;$2249959 |
|  | Adecco Group AG | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp; 5334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 158010 |
|  | Alcon AG | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;16394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1445802 |
|  | Avolta AG | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp; 2926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 158136 |
|  | Bachem Holding AG, Class B | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp; 1036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75487 |
|  | Baloise Holding AG | &nbsp;&nbsp;Insurance | &nbsp;&nbsp; 1358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 319369 |
|  | Banque Cantonale Vaudoise | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107764 |
|  | Barry Callebaut AG | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129166 |
|  | Belimo Holding AG | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326854 |
|  | BKW AG | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143256 |
|  | Chocoladefabriken Lindt & Spruengli AG | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1140452 |
|  | Cie Financiere Richemont SA, Class A | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;12488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2344638 |
|  | Clariant AG | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;6916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73200 |
|  | DKSH Holding AG | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;1176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91007 |
|  | Emmi AG | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69736 |
|  | EMS-Chemie Holding AG | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170068 |
|  | Flughafen Zurich AG | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178869 |
|  | Galderma Group AG | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;4536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;655327 |
|  | Geberit AG | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;1087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;852121 |
|  | Georg Fischer AG | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;2568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209215 |
|  | Givaudan SA | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1220820 |
|  | Helvetia Holding AG | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;1148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268395 |
|  | Julius Baer Group Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;6776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456614 |
|  | Kuehne & Nagel International AG | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp;&nbsp;&nbsp;1526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;329068 |
|  | Logitech International SA | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;4942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;443538 |
|  | Lonza Group AG | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp;2199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1560848 |
|  | Nestle SA | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;65898 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6526054 |
|  | Novartis AG | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;49014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5921704 |
|  | Partners Group Holding AG | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925779 |
|  | PSP Swiss Property AG | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;1512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277517 |
|  | Roche Holding AG | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;18382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5967222 |
|  | Roche Holding AG | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261181 |
|  | Sandoz Group AG | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;13678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;746104 |
|  | Schindler Holding AG, PC | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;1344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;498090 |
|  | Schindler Holding AG | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242714 |
|  | SGS SA | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;5366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;542667 |
|  | SIG Group AG | &nbsp;&nbsp;Containers & Packaging | &nbsp;&nbsp;10808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199052 |
|  | Sika AG | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;5306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1435820 |
|  | Sonova Holding AG | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;1624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;482303 |
|  | Straumann Holding AG | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;3579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;465585 |
|  | Swatch Group AG | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;924 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149860 |
|  | Swatch Group AG | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;1708 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57248 |
|  | Swiss Life Holding AG | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;945777 |
|  | Swiss Prime Site AG | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;2562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382369 |
|  | Swiss Re AG | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;9156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1577570 |
|  | Swisscom AG | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;593593 |
|  | Temenos AG | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;1848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131751 |
|  | UBS Group AG | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;88802 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2995394 |
| <sup>a</sup> | VAT Group AG | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;376748 |
|  | Zurich Insurance Group AG | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;3976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2770213 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49650034 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **United States 3.9%** |  |  |  |
| <sup>b</sup> | Amrize Ltd. | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;16506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 820738 |
|  | Holcim AG, Class B | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;16506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1221361 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2042099 |
|  | **Total Common Stocks (Cost $43,810,396)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51692133 |
|  | **Total Investments before Short-Term Investments (Cost $43,810,396)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51692133 |
|  | **Short-Term Investments 0.0%<sup>†</sup>** |  |  |  |
|  | **Money Market Funds 0.0%<sup>†</sup>** |  |  |  |
|  | **United States 0.0%<sup>†</sup>** |  |  |  |
| <sup>c,d</sup> | Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385 |
|  | **Total Short-Term Investments (Cost $385)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385 |
|  | **Total Investments (Cost $43,810,781) 97.9%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51692518 |
|  | **Other Assets, less Liabilities 2.1%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1097169 |
|  | **Net Assets 100.0%** |  |  | &nbsp;&nbsp;$52789687 |

---

---

| |
|:---|
| <sup>†</sup>Rounds to less than 0.1% of net assets. |
| <sup>a</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional buyers or in a public offering registered under the Securities Act of 1933. At June 30, 2025, the value of this security was $376,748, representing 0.7% of net assets. |
| <sup>b</sup>Non-income producing. |
| <sup>c</sup>The rate shown is the annualized seven-day effective yield at period end. |
| <sup>d</sup>See Note 3 regarding investments in affiliated management investment companies. |

---

At June 30, 2025, the Fund had the following futures contracts outstanding.

#### Futures Contracts

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Type** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Notional<br> Amount\*** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value/Unrealized<br> Appreciation<br> (Depreciation)** |
| **Equity Contracts** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Swiss Mid Cap Future Index | &nbsp;&nbsp;Long | &nbsp;&nbsp;7 | &nbsp;&nbsp;$1046570 | &nbsp;&nbsp;9/19/25 | &nbsp;&nbsp;$(12587) |

---

\*As of period end.

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Franklin FTSE Taiwan ETF** | &nbsp;&nbsp;**Industry** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
|  | **Common Stocks 99.2%** |  |  |  |
|  | **China 0.8%** |  |  |  |
|  | Airtac International Group, Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 72640 | &nbsp;&nbsp;$2165872 |
|  | Silergy Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 172670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2101334 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4267206 |
|  | **Taiwan 98.3%** |  |  |  |
|  | Accton Technology Corp. | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp; 257920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6445351 |
|  | Acer, Inc., Class H | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1555867 |
|  | Advanced Energy Solution Holding Co. Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;561714 |
|  | Advantech Co. Ltd. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;240488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2799052 |
|  | Alchip Technologies Ltd. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4332915 |
|  | ASE Technology Holding Co. Ltd., Class A | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;1707400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8621166 |
|  | Asia Cement Corp. | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;1206000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1760780 |
|  | Asia Vital Components Co. Ltd. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;168549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4287002 |
|  | ASMedia Technology, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1239028 |
|  | ASPEED Technology, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2533959 |
|  | Asustek Computer, Inc. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;354980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7825795 |
|  | AUO Corp., Class H | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;3340000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1412057 |
|  | Capital Securities Corp., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;856000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;574339 |
|  | Catcher Technology Co. Ltd. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;302760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2197218 |
|  | Cathay Financial Holding Co. Ltd., Class A | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;4873700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10477487 |
|  | Chailease Holding Co. Ltd., Class A | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;760321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3292503 |
|  | Chang Hwa Commercial Bank Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;3664000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2345502 |
|  | Cheng Shin Rubber Industry Co. Ltd., Class A | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;982000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1270697 |
|  | Chicony Electronics Co. Ltd. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;315390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1403557 |
|  | China Airlines Ltd., Class A | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp;1502000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1110612 |
|  | China Motor Corp., Class A | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;129290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272194 |
|  | China Steel Corp., Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;5891000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3791278 |
|  | Chroma ATE, Inc. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;191680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2903546 |
|  | Chunghwa Telecom Co. Ltd. | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;1986230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9179140 |
|  | Compal Electronics, Inc., Class H | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;2198000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2182048 |
|  | CTBC Financial Holding Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;8316000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12440408 |
|  | Delta Electronics, Inc., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;1005230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14211967 |
|  | E Ink Holdings, Inc. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;419200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3171409 |
|  | E.Sun Financial Holding Co. Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;7909343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8894356 |
| <sup>a</sup> | Eclat Textile Co. Ltd., Class A | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1373216 |
|  | Elite Material Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;143989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4347470 |
|  | eMemory Technology, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2941194 |
|  | Ennostar, Inc., Class H | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;310850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;376698 |
|  | Eternal Materials Co. Ltd., Class H | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;425985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349981 |
|  | Eva Airways Corp., Class H | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp;1411000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1927253 |
|  | Evergreen Marine Corp. Taiwan Ltd. | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp;&nbsp;&nbsp;566000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3855744 |
|  | Far Eastern International Bank | &nbsp;&nbsp;Banks | &nbsp;&nbsp;1248000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;551116 |
|  | Far Eastern New Century Corp. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;1575726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1774661 |
|  | Far EasTone Telecommunications Co. Ltd. | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;923500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2832589 |
|  | Feng TAY Enterprise Co. Ltd. | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;258664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1084703 |
|  | First Financial Holding Co. Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;5499450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5468952 |
|  | Formosa Chemicals & Fibre Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;1744000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1367164 |
|  | Formosa Petrochemical Corp. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;619530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;763490 |
|  | Formosa Plastics Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;2183620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2605065 |
|  | Formosa Sumco Technology Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85025 |
|  | Formosa Taffeta Co. Ltd. | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;381000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203464 |
|  | Fortune Electric Co. Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1317920 |
|  | Foxconn Technology Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;479580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1042494 |
|  | Fubon Financial Holding Co. Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;4237445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12663595 |
|  | Genius Electronic Optical Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;632180 |
|  | Giant Manufacturing Co. Ltd. | &nbsp;&nbsp;Leisure Products | &nbsp;&nbsp;&nbsp;&nbsp;164475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610897 |
|  | Gigabyte Technology Co. Ltd. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;283210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2743682 |
|  | Global Unichip Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1906662 |
|  | Globalwafers Co. Ltd. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;132970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1372397 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Hiwin Technologies Corp. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 156089 | &nbsp;&nbsp; 1122097 |
|  | Hon Hai Precision Industry Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;6348000 | &nbsp;&nbsp; 34986581 |
| <sup>a</sup> | Hotai Motor Co. Ltd. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp; 145330 | &nbsp;&nbsp; 2805906 |
| <sup>a</sup> | HTC Corp. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp; 347900 | &nbsp;&nbsp; 469829 |
|  | Hua Nan Financial Holdings Co. Ltd., Class C | &nbsp;&nbsp;Banks | &nbsp;&nbsp;4794560 | &nbsp;&nbsp; 4464331 |
|  | Innolux Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;3829080 | &nbsp;&nbsp; 1533624 |
|  | International Games System Co. Ltd. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp; 115596 | &nbsp;&nbsp; 3395227 |
|  | Inventec Corp. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;1338000 | &nbsp;&nbsp; 1937471 |
|  | Jentech Precision Industrial Co. Ltd. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 43665 | &nbsp;&nbsp; 2257091 |
|  | KGI Financial Holding Co. Ltd., Class A | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;8127000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4159203 |
|  | King Slide Works Co. Ltd. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2077634 |
|  | King Yuan Electronics Co. Ltd. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;593500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2072333 |
|  | Largan Precision Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4060633 |
|  | Lite-On Technology Corp. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;1024700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3876125 |
|  | Lotes Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2002725 |
|  | MediaTek, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;764920 | &nbsp;&nbsp;&nbsp;&nbsp;32731412 |
|  | Mega Financial Holding Co. Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;6147365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8638550 |
|  | Micro-Star International Co. Ltd. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;354900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1743398 |
|  | momo.com, Inc. | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;378296 |
|  | Nan Ya Plastics Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;2565010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2397124 |
|  | Nan Ya Printed Circuit Board Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;112200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430179 |
| <sup>a</sup> | Nanya Technology Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;590670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1035270 |
|  | Nien Made Enterprise Co. Ltd. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1213349 |
|  | Novatek Microelectronics Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;299480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5587313 |
| <sup>a</sup> | Oneness Biotech Co. Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;154275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;333773 |
|  | Pegatron Corp. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;1001889 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2634023 |
| <sup>a</sup> | PharmaEssentia Corp. | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;132655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2488530 |
| <sup>a</sup> | Pou Chen Corp. | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;1175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1244908 |
| <sup>a</sup> | Powerchip Semiconductor Manufacturing Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;1695000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;893571 |
|  | Powertech Technology, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;359200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1616966 |
|  | President Chain Store Corp. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;277160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2433642 |
|  | Quanta Computer, Inc. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;1373090 | &nbsp;&nbsp;&nbsp;&nbsp;12902684 |
|  | Realtek Semiconductor Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;252723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4905311 |
|  | Ruentex Development Co. Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;806810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;821669 |
|  | Shanghai Commercial & Savings Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;1979000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3143421 |
|  | Shihlin Electric & Engineering Corp. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;133200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;818479 |
| <sup>a</sup> | Shin Kong Financial Holding Co. Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;7856000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3038916 |
|  | Sino-American Silicon Products, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;286080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;894122 |
|  | SinoPac Financial Holdings Co. Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;5556642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4603270 |
|  | Synnex Technology International Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;637200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1404754 |
|  | Taishin Financial Holding Co. Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;6048800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3261283 |
|  | Taiwan Business Bank | &nbsp;&nbsp;Banks | &nbsp;&nbsp;3474760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1825879 |
|  | Taiwan Cooperative Financial Holding Co. Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;5288045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4480320 |
|  | Taiwan Fertilizer Co. Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;318655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;579234 |
| <sup>a</sup> | Taiwan Glass Industry Corp. | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;512000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280433 |
|  | Taiwan High Speed Rail Corp. | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;1045000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1010586 |
|  | Taiwan Mobile Co. Ltd. | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;735840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2896810 |
|  | Taiwan Secom Co. Ltd. | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;124570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;469078 |
|  | Taiwan Semiconductor Manufacturing Co. Ltd. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;3031189 | &nbsp;&nbsp;109991111 |
|  | Tatung Co. Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;624000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;848035 |
|  | TCC Group Holdings Co. Ltd. | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;3476718 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3034928 |
|  | Teco Electric & Machinery Co. Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;622000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1007141 |
|  | Transcend Information, Inc. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343452 |
|  | U-Ming Marine Transport Corp. | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp;&nbsp;&nbsp;223189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;369791 |
|  | Unimicron Technology Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;679320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2651050 |
|  | Uni-President Enterprises Corp. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;2562700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7105939 |
|  | United Microelectronics Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;6066750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9179459 |
|  | Vanguard International Semiconductor Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;540008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1857826 |
|  | Voltronic Power Technology Corp. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1535102 |
|  | Walsin Lihwa Corp. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;1566974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1158655 |
|  | Walsin Technology Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;150330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418384 |
|  | Wan Hai Lines Ltd. | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp;&nbsp;&nbsp;480430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1463723 |
|  | Win Semiconductors Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;181890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;539842 |
| <sup>a</sup> | Winbond Electronics Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;1641548 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1132315 |
|  | Wistron Corp. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;1448009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6072200 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Wiwynn Corp. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp; 54120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4687238 |
|  | WPG Holdings Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp; 812000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1951335 |
|  | Yageo Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp; 201635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3347699 |
|  | Yang Ming Marine Transport Corp. | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp; 911884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2219463 |
|  | Yuanta Financial Holding Co. Ltd. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;5506000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6436735 |
|  | Yulon Motor Co. Ltd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp; 295678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 340599 |
|  | Zhen Ding Technology Holding Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp; 342460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1178188 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530518132 |
|  | **United States 0.1%** |  |  |  |
|  | Parade Technologies Ltd. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;782663 |
|  | **Total Common Stocks (Cost $403,816,730)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535568001 |
|  | **Total Investments before Short-Term Investments (Cost $403,816,730)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535568001 |
|  | **Short-Term Investments 0.0%<sup>†</sup>** |  |  |  |
|  | **Money Market Funds 0.0%<sup>†</sup>** |  |  |  |
|  | **United States 0.0%<sup>†</sup>** |  |  |  |
| <sup>b,c</sup> | Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3340 |
|  | **Total Short-Term Investments (Cost $3,340)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3340 |
|  | **Total Investments (Cost $403,820,070) 99.2%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535571341 |
|  | **Other Assets, less Liabilities 0.8%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4404165 |
|  | **Net Assets 100.0%** |  |  | &nbsp;&nbsp;$539975506 |

---

---

| |
|:---|
| <sup>†</sup>Rounds to less than 0.1% of net assets. |
| <sup>a</sup>Non-income producing. |
| <sup>b</sup>The rate shown is the annualized seven-day effective yield at period end. |
| <sup>c</sup>See Note 3 regarding investments in affiliated management investment companies. |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Franklin FTSE United Kingdom ETF** | &nbsp;&nbsp;**Industry** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
|  | **Common Stocks 99.4%** |  |  |  |
|  | **Australia 3.5%** |  |  |  |
| <sup>a</sup> | Glencore PLC | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 2886060 | &nbsp;&nbsp;$11216125 |
|  | Rio Tinto PLC | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 278615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16207403 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27423528 |
|  | **Austria 0.2%** |  |  |  |
|  | Mondi PLC | &nbsp;&nbsp;Paper & Forest Products | &nbsp;&nbsp; 116905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1905587 |
|  | **Bermuda 0.2%** |  |  |  |
|  | Hiscox Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1558816 |
|  | **Chile 0.3%** |  |  |  |
|  | Antofagasta PLC | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2273092 |
|  | **Ireland 1.8%** |  |  |  |
|  | DCC PLC | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1735079 |
|  | Experian PLC | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12709912 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14444991 |
|  | **Isle Of Man 0.3%** |  |  |  |
|  | Entain PLC | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1983891 |
|  | **Mexico 0.1%** |  |  |  |
|  | Fresnillo PLC | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;975601 |
|  | **Netherlands 7.2%** |  |  |  |
|  | Shell PLC | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;1610920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56369098 |
|  | **Nigeria 0.0%<sup>†</sup>** |  |  |  |
| <sup>b</sup> | Airtel Africa PLC | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366460 |
|  | **Russia 0.0%** |  |  |  |
| <sup>a,c</sup> | Evraz PLC | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | **South Africa 1.1%** |  |  |  |
|  | Anglo American PLC | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8451468 |
|  | **Switzerland 0.4%** |  |  |  |
|  | Coca-Cola HBC AG | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2818826 |
|  | **United Kingdom 83.5%** |  |  |  |
|  | 3i Group PLC | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14334502 |
|  | Admiral Group PLC | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3023135 |
|  | Ashtead Group PLC | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7413868 |
|  | Associated British Foods PLC | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2236684 |
|  | AstraZeneca PLC | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;403760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55993170 |
| <sup>b</sup> | Auto Trader Group PLC | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2653025 |
|  | Aviva PLC | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;718425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6095981 |
|  | B&M European Value Retail SA | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;969168 |
|  | BAE Systems PLC | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;809580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20928969 |
|  | Barclays PLC | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;3841900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17757984 |
|  | Barratt Redrow PLC | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2284370 |
|  | Beazley PLC | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2118142 |
|  | Berkeley Group Holdings PLC | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1334817 |
|  | BP PLC | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;4294070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21519161 |
|  | British American Tobacco PLC | &nbsp;&nbsp;Tobacco | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;521180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24732698 |
|  | British Land Co. PLC | &nbsp;&nbsp;Diversified REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1346778 |
|  | BT Group PLC | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;1514615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4021381 |
|  | Bunzl PLC | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2783399 |
| <sup>a</sup> | Burberry Group PLC | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1559903 |
|  | Centrica PLC | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp;&nbsp;&nbsp;1348270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2984799 |
|  | Coca-Cola Europacific Partners PLC | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5303701 |
|  | Compass Group PLC | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15442985 |
| <sup>b</sup> | ConvaTec Group PLC | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1748344 |
|  | Croda International PLC | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1485759 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Diageo PLC | &nbsp;&nbsp;Beverages | &nbsp;&nbsp; 599460 | &nbsp;&nbsp; 15016463 |
|  | Diploma PLC | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp; 36050 | &nbsp;&nbsp; 2414725 |
|  | Endeavour Mining PLC | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 46865 | &nbsp;&nbsp; 1430853 |
|  | GSK PLC | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp; 1089225 | &nbsp;&nbsp; 20747399 |
|  | Haleon PLC | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp; 2427710 | &nbsp;&nbsp; 12455578 |
|  | Halma PLC | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp; 100425 | &nbsp;&nbsp; 4403754 |
|  | Hikma Pharmaceuticals PLC | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp; 41200 | &nbsp;&nbsp; 1122393 |
|  | Howden Joinery Group PLC | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp; 146775 | &nbsp;&nbsp; 1721699 |
|  | HSBC Holdings PLC | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 4751905 | &nbsp;&nbsp; 57420781 |
|  | IMI PLC | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1921138 |
|  | Imperial Brands PLC | &nbsp;&nbsp;Tobacco | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8202754 |
|  | Informa PLC | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;352260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3889751 |
|  | InterContinental Hotels Group PLC | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4512493 |
|  | Intermediate Capital Group PLC | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1932119 |
|  | International Consolidated Airlines Group SA | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;605640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2831749 |
|  | Intertek Group PLC | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2776482 |
|  | J Sainsbury PLC | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1855001 |
|  | JD Sports Fashion PLC | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;678770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825417 |
|  | Kingfisher PLC | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1900395 |
|  | Land Securities Group PLC | &nbsp;&nbsp;Diversified REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1732277 |
|  | Legal & General Group PLC | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;1555300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5426300 |
|  | Lloyds Banking Group PLC | &nbsp;&nbsp;Banks | &nbsp;&nbsp;16208080 | &nbsp;&nbsp;&nbsp;&nbsp;17035630 |
|  | London Stock Exchange Group PLC | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135960 | &nbsp;&nbsp;&nbsp;&nbsp;19814353 |
|  | M&G PLC | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;632935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2229069 |
|  | Marks & Spencer Group PLC | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;549505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2668681 |
|  | Melrose Industries PLC | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;339900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2472369 |
|  | National Grid PLC | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp;&nbsp;&nbsp;1316340 | &nbsp;&nbsp;&nbsp;&nbsp;19147820 |
|  | NatWest Group PLC | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;2110470 | &nbsp;&nbsp;&nbsp;&nbsp;14790102 |
|  | Next PLC | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5267568 |
| <sup>a,c</sup> | NMC Health PLC | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Pearson PLC | &nbsp;&nbsp;Diversified Consumer Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2608854 |
|  | Persimmon PLC | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1499986 |
|  | Phoenix Group Holdings PLC | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1807773 |
|  | Prudential PLC | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;701430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8771948 |
|  | Reckitt Benckiser Group PLC | &nbsp;&nbsp;Household Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183340 | &nbsp;&nbsp;&nbsp;&nbsp;12448933 |
|  | RELX PLC | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495430 | &nbsp;&nbsp;&nbsp;&nbsp;26728770 |
|  | Rentokil Initial PLC | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;676195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3262641 |
|  | Rightmove PLC | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2253981 |
|  | Rolls-Royce Holdings PLC | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;2284540 | &nbsp;&nbsp;&nbsp;&nbsp;30291856 |
|  | RS Group PLC | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;993332 |
|  | Sage Group PLC | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4474352 |
|  | Schroders PLC | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;981945 |
|  | Segro PLC | &nbsp;&nbsp;Industrial REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3376483 |
|  | Severn Trent PLC | &nbsp;&nbsp;Water Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2681957 |
|  | Smith & Nephew PLC | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3597486 |
|  | Smiths Group PLC | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2773871 |
|  | Spirax Group PLC | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1596996 |
|  | SSE PLC | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;298185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7481788 |
|  | St. James's Place PLC | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2264433 |
|  | Standard Chartered PLC | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;511395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8458532 |
|  | Taylor Wimpey PLC | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;955325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1554591 |
|  | Tesco PLC | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;1764390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9702754 |
|  | Unilever PLC | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;662805 | &nbsp;&nbsp;&nbsp;&nbsp;40191138 |
|  | UNITE Group PLC | &nbsp;&nbsp;Residential REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111755 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1297890 |
|  | United Utilities Group PLC | &nbsp;&nbsp;Water Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2867903 |
|  | Vodafone Group PLC | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;5238580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5583580 |
|  | Weir Group PLC | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2372311 |
|  | Whitbread PLC | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1832893 |
| <sup>a</sup> | Wise PLC, Class A | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2664271 |
|  | WPP PLC | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2040310 |
|  |  |  |  | &nbsp;&nbsp;656501394 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **United States 0.8%** |  |  |  |
|  | Smurfit WestRock PLC | &nbsp;&nbsp;Containers & Packaging | &nbsp;&nbsp; 140080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6031337 |
|  | **Total Common Stocks (Cost $680,214,400)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;781104089 |
|  | **Total Investments before Short-Term Investments (Cost $680,214,400)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;781104089 |
|  | **Short-Term Investments 0.0%<sup>†</sup>** |  |  |  |
|  | **Money Market Funds 0.0%<sup>†</sup>** |  |  |  |
|  | **United States 0.0%<sup>†</sup>** |  |  |  |
| <sup>d,e</sup> | Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp; 77421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 77421 |
|  | **Total Short-Term Investments (Cost $77,421)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77421 |
|  | **Total Investments (Cost $680,291,821) 99.4%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;781181510 |
|  | **Other Assets, less Liabilities 0.6%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4933823 |
|  | **Net Assets 100.0%** |  |  | &nbsp;&nbsp;$786115333 |

---

---

| |
|:---|
| <sup>†</sup>Rounds to less than 0.1% of net assets. |
| <sup>a</sup>Non-income producing. |
| <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional buyers or in a public offering registered under the Securities Act of 1933. At June 30, 2025, the aggregate value of these securities was $4,767,829, representing 0.6% of net assets. |
| <sup>c</sup>Fair valued using significant unobservable inputs. See Note 5 regarding fair value measurements. |
| <sup>d</sup>The rate shown is the annualized seven-day effective yield at period end. |
| <sup>e</sup>See Note 3 regarding investments in affiliated management investment companies. |

---

At June 30, 2025, the Fund had the following futures contracts outstanding.

#### Futures Contracts

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Type** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Notional<br> Amount\*** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value/Unrealized<br> Appreciation<br> (Depreciation)** |
| **Index Contracts** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;FTSE 100 Index | &nbsp;&nbsp;Long | &nbsp;&nbsp;38 | &nbsp;&nbsp;$4576980 | &nbsp;&nbsp;9/19/25 | &nbsp;&nbsp;$(59682) |

---

\*As of period end.

---

| | |
|:---|:---|
| **Selected Portfolio** |  |
| **REIT** | Real Estate Investment Trust |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Franklin Genomic Advancements ETF** | &nbsp;&nbsp;**Country** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
|  | **Common Stocks 94.5%** |  |  |  |
|  | **Biotechnology 47.7%** |  |  |  |
| <sup>a</sup> | Alnylam Pharmaceuticals, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1209 | &nbsp;&nbsp;$394243 |
| <sup>a</sup> | Argenx SE | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp; 189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 104229 |
| <sup>a</sup> | Bavarian Nordic AS | &nbsp;&nbsp;Denmark | &nbsp;&nbsp; 1325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35221 |
| <sup>a</sup> | Beam Therapeutics, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3781 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64315 |
| <sup>a</sup> | BioMarin Pharmaceutical, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 107136 |
| <sup>a</sup> | BioNTech SE, ADR | &nbsp;&nbsp;Germany | &nbsp;&nbsp; 2975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 316748 |
| <sup>a</sup> | Bridgebio Pharma, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;5876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253726 |
| <sup>a</sup> | CareDx, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54888 |
| <sup>a</sup> | Catalyst Pharmaceuticals, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;4631 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100493 |
| <sup>a</sup> | CRISPR Therapeutics AG | &nbsp;&nbsp;Switzerland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35848 |
| <sup>a</sup> | Dynavax Technologies Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;6886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68309 |
| <sup>a</sup> | Exact Sciences Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203367 |
| <sup>a</sup> | GRAIL, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117186 |
| <sup>a</sup> | Insmed, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367537 |
| <sup>a</sup> | Ionis Pharmaceuticals, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71987 |
| <sup>a</sup> | Krystal Biotech, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373891 |
| <sup>a</sup> | Natera, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;4229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;714447 |
| <sup>a</sup> | Neurocrine Biosciences, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128455 |
| <sup>a</sup> | Neurogene, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14995 |
| <sup>a</sup> | PTC Therapeutics, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1586 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77460 |
| <sup>a</sup> | Recursion Pharmaceuticals, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;16594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83966 |
|  | Regeneron Pharmaceuticals, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280875 |
| <sup>a</sup> | Travere Therapeutics, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37178 |
| <sup>a</sup> | Twist Bioscience Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;5175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190388 |
| <sup>a</sup> | Ultragenyx Pharmaceutical, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;5803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210997 |
| <sup>a</sup> | United Therapeutics Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;318671 |
| <sup>a</sup> | Veracyte, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93551 |
| <sup>a</sup> | Vertex Pharmaceuticals, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460782 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5280889 |
|  | **Chemicals 3.3%** |  |  |  |
|  | Corteva, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;4946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;368625 |
|  | **Health Care Equipment & Supplies 0.1%** |  |  |  |
| <sup>a</sup> | TransMedics Group, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10319 |
|  | **Health Care Providers & Services 5.6%** |  |  |  |
| <sup>a</sup> | GeneDx Holdings Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52525 |
| <sup>a</sup> | Guardant Health, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;7651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;398158 |
|  | Labcorp Holdings, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163806 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;614489 |
|  | **Health Care Technology 1.7%** |  |  |  |
| <sup>a</sup> | Doximity, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119183 |
| <sup>a</sup> | Schrodinger, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66336 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185519 |
|  | **Life Sciences Tools & Services 25.5%** |  |  |  |
| <sup>a</sup> | Adaptive Biotechnologies Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;17000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198050 |
|  | Agilent Technologies, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145152 |
| <sup>a</sup> | Azenta, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17052 |
| <sup>a</sup> | Bio-Rad Laboratories, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34026 |
|  | Bio-Techne Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;759 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39051 |
|  | Bruker Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63242 |
| <sup>a</sup> | Charles River Laboratories International, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;968 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146875 |
|  | Danaher Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208010 |
| <sup>a</sup> | Evotec SE | &nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;1213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10258 |
| <sup>a</sup> | IQVIA Holdings, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97706 |
|  | Lonza Group AG | &nbsp;&nbsp;Switzerland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177450 |
| <sup>a</sup> | Medpace Holdings, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391383 |
| <sup>a,b</sup> | OmniAb, Inc., 12.5 Earnout | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| <sup>a,b</sup> | OmniAb, Inc., 15.0 Earnout | &nbsp;&nbsp;United States | &nbsp;&nbsp; 240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| <sup>a</sup> | Qiagen NV | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 196902 |
| <sup>a</sup> | Repligen Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 131967 |
|  | Revvity, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83179 |
| <sup>a,c</sup> | Samsung Biologics Co. Ltd. | &nbsp;&nbsp;South Korea | &nbsp;&nbsp; 619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 454985 |
| <sup>a</sup> | Tempus AI, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 188396 |
|  | Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 574 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 232734 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2816418 |
|  | **Pharmaceuticals 8.3%** |  |  |  |
|  | AstraZeneca PLC, ADR | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;4418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;308730 |
|  | Bristol-Myers Squibb Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56474 |
|  | Eli Lilly & Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;357804 |
| <sup>a</sup> | Ligand Pharmaceuticals, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177909 |
| <sup>a</sup> | WaVe Life Sciences Ltd. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17888 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;918805 |
|  | **Software 2.3%** |  |  |  |
| <sup>a</sup> | Cadence Design Systems, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253607 |
|  | **Total Common Stocks (Cost $10,496,994)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10448671 |
|  | **Preferred Stock 2.4%** |  |  |  |
|  | **Life Sciences Tools & Services 2.4%** |  |  |  |
| <sup>d</sup> | Sartorius AG, 0.343%, pfd. | &nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;1067 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270540 |
|  | **Total Preferred Stocks (Cost $577,345)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270540 |
|  | **Total Investments (Cost $11,074,339) 96.9%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10719211 |
|  | **Other Assets, less Liabilities 3.1%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343358 |
|  | **Net Assets 100.0%** |  |  | &nbsp;&nbsp;$11062569 |

---

---

| |
|:---|
| <sup>a</sup>Non-income producing. |
| <sup>b</sup>Fair valued using significant unobservable inputs. See Note 5 regarding fair value measurements. |
| <sup>c</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional buyers or in a public offering registered under the Securities Act of 1933. At June 30, 2025, the value of this security was $454,985, representing 4.1% of net assets. |
| <sup>d</sup>Variable rate security. The rate shown represents the yield at period end. |

---

#### Abbreviations

---

| | |
|:---|:---|
| **Selected Portfolio** |  |
| **ADR** | American Depositary Receipt |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Franklin High Yield Corporate ETF** | &nbsp;&nbsp;**Country** | &nbsp;&nbsp;**Principal Amount\*** | &nbsp;&nbsp;**Value** |
|  | **Corporate Bonds & Notes 95.1%** |  |  |  |
|  | **Advertising 0.8%** |  |  |  |
| <sup>a</sup> | Outfront Media Capital LLC/Outfront Media Capital Corp., 4.625%, 3/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5400000 | &nbsp;&nbsp;$5161438 |
|  | **Aerospace/Defense 2.6%** |  |  |  |
|  | Boeing Co., 6.528%, 5/01/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3478987 |
|  | Bombardier, Inc., |  |  |  |
|  | <sup>a</sup> 6.75%, 6/15/33 | &nbsp;&nbsp;Canada | &nbsp;&nbsp; 2050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2126775 |
|  | <sup>a</sup> 7.00%, 6/01/32 | &nbsp;&nbsp;Canada | &nbsp;&nbsp; 2800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2919378 |
| <sup>a</sup> | Efesto Bidco SpA Efesto U.S. LLC, 7.50%, 2/15/32 | &nbsp;&nbsp;Italy | &nbsp;&nbsp;&nbsp;&nbsp;4950000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5016261 |
| <sup>a</sup> | TransDigm, Inc., 6.375%, 5/31/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3010219 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16551620 |
|  | **Airlines 0.7%** |  |  |  |
| <sup>a</sup> | OneSky Flight LLC, 8.875%, 12/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2266581 |
| <sup>a</sup> | United Airlines, Inc., 4.375%, 4/15/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1988028 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4254609 |
|  | **Apparel 0.9%** |  |  |  |
| <sup>a,b</sup> | Beach Acquisition Bidco LLC, 10.00%, 7/15/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3013143 |
| <sup>a</sup> | Hanesbrands, Inc., 9.00%, 2/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;953753 |
| <sup>a</sup> | Under Armour, Inc., 7.25%, 7/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1685000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1710621 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5677517 |
|  | **Auto Parts & Equipment 0.4%** |  |  |  |
|  | IHO Verwaltungs GmbH, |  |  |  |
|  | <sup>a</sup> 8.00%, 11/15/32 | &nbsp;&nbsp;Germany | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1228266 |
|  | <sup>a</sup> 7.75%, 11/15/30 | &nbsp;&nbsp;Germany | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1437902 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2666168 |
|  | **Automobiles & Components 1.4%** |  |  |  |
| <sup>a</sup> | Adient Global Holdings Ltd., 7.00%, 4/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;644659 |
| <sup>a</sup> | Dornoch Debt Merger Sub, Inc., 6.625%, 10/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;5350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4149652 |
| <sup>a</sup> | Jaguar Land Rover Automotive PLC, 5.50%, 7/15/29 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;1175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1170545 |
| <sup>a</sup> | ZF North America Capital, Inc., 6.875%, 4/23/32 | &nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2775093 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8739949 |
|  | **Capital Goods 0.7%** |  |  |  |
| <sup>a</sup> | ATS Corp., 4.125%, 12/15/28 | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2870841 |
| <sup>a</sup> | Cornerstone Building Brands, Inc., 6.125%, 1/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1742473 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4613314 |
|  | **Chemicals 2.7%** |  |  |  |
| <sup>a</sup> | Avient Corp., 6.25%, 11/01/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3433908 |
| <sup>a</sup> | Cerdia Finanz GmbH, 9.375%, 10/03/31 | &nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5194850 |
|  | FMC Corp., 8.45% to 8/01/30, FRN thereafter, 11/01/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1231049 |
| <sup>a</sup> | GPD Cos., Inc., 12.50%, 12/31/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3034976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2925717 |
| <sup>a</sup> | Rain Carbon, Inc., 12.25%, 9/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;4050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4348489 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17134013 |
|  | **Coal 0.5%** |  |  |  |
| <sup>a</sup> | Coronado Finance Pty. Ltd., 9.25%, 10/01/29 | &nbsp;&nbsp;Australia | &nbsp;&nbsp;&nbsp;&nbsp;4150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3097894 |
|  | **Commercial & Professional Services 1.5%** |  |  |  |
| <sup>a</sup> | Gartner, Inc., senior note, 4.50%, 7/01/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;792240 |
|  | Grand Canyon University, 5.125%, 10/01/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2722619 |
| <sup>a</sup> | Prime Security Services Borrower LLC/Prime Finance, Inc., first lien, 3.375%, 8/31/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3393123 |
| <sup>a</sup> | PROG Holdings, Inc., 6.00%, 11/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2595097 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9503079 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Commercial Services 3.1%** |  |  |  |
| <sup>a</sup> | Allied Universal Holdco LLC, 7.875%, 2/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 900000 | &nbsp;&nbsp; 941024 |
|  | EquipmentShare.com, Inc., |  |  |  |
|  | <sup>a</sup> 8.625%, 5/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp; 2553456 |
|  | <sup>a</sup> 9.00%, 5/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3173040 |
|  | Herc Holdings, Inc., |  |  |  |
|  | <sup>a</sup> 6.625%, 6/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 718801 |
|  | <sup>a</sup> 7.25%, 6/15/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 900000 | &nbsp;&nbsp; 943606 |
|  | <sup>a</sup> 7.00%, 6/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp; 1358477 |
| <sup>a</sup> | RR Donnelley & Sons Co., 9.50%, 8/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;4975000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4978756 |
| <sup>a</sup> | United Rentals North America, Inc., 6.125%, 3/15/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4125092 |
| <sup>a</sup> | Veritiv Operating Co., 10.50%, 11/30/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1219213 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;20011465 |
|  | **Construction Materials 2.6%** |  |  |  |
| <sup>a</sup> | EMRLD Borrower LP/Emerald Co-Issuer, Inc., 6.625%, 12/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2251528 |
|  | JH North America Holdings, Inc., |  |  |  |
|  | <sup>a</sup> 5.875%, 1/31/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 353275 |
|  | <sup>a</sup> 6.125%, 7/31/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 525000 | &nbsp;&nbsp; 534045 |
| <sup>a</sup> | Miter Brands Acquisition Holdco, Inc./MIWD Borrower LLC, 6.75%, 4/01/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;5400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5541930 |
|  | Quikrete Holdings, Inc., |  |  |  |
|  | <sup>a</sup> 6.75%, 3/01/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 950000 | &nbsp;&nbsp; 980829 |
|  | <sup>a</sup> 6.375%, 3/01/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1350000 | &nbsp;&nbsp; 1389076 |
| <sup>a</sup> | Smyrna Ready Mix Concrete LLC, 8.875%, 11/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2518144 |
| <sup>a</sup> | Standard Building Solutions, Inc., 6.50%, 8/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3075852 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;16644679 |
|  | **Consumer Discretionary Distribution & Retail 0.2%** |  |  |  |
| <sup>a</sup> | FirstCash, Inc., 4.625%, 9/01/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1179012 |
|  | **Consumer Durables & Apparel 0.2%** |  |  |  |
| <sup>a</sup> | Ashton Woods USA LLC/Ashton Woods Finance Co., 4.625%, 4/01/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1336699 |
|  | **Consumer Services 0.3%** |  |  |  |
| <sup>a,c,d</sup> | 24 Hour Fitness Worldwide, Inc., senior note, 8.00%, 6/01/22 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| <sup>a</sup> | Station Casinos LLC, 4.50%, 2/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2060581 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2060581 |
|  | **Distribution/Wholesale 0.4%** |  |  |  |
| <sup>a</sup> | Gates Corp., 6.875%, 7/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2183196 |
| <sup>a</sup> | RB Global Holdings, Inc., 6.75%, 3/15/28 | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;641887 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2825083 |
|  | **Diversified Financial Services 7.0%** |  |  |  |
|  | Encore Capital Group, Inc., |  |  |  |
|  | <sup>a</sup> 9.25%, 4/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1064683 |
|  | <sup>a</sup> 8.50%, 5/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1900000 | &nbsp;&nbsp; 2039498 |
|  | Freedom Mortgage Holdings LLC, |  |  |  |
|  | <sup>a</sup> 8.375%, 4/01/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 925000 | &nbsp;&nbsp; 935704 |
|  | <sup>a</sup> 9.25%, 2/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4400000 | &nbsp;&nbsp; 4573470 |
| <sup>a</sup> | GGAM Finance Ltd., 8.00%, 6/15/28 | &nbsp;&nbsp;Ireland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;317547 |
|  | Jane Street Group/JSG Finance, Inc., |  |  |  |
|  | <sup>a</sup> 4.50%, 11/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1359242 |
|  | <sup>a</sup> 6.75%, 5/01/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2700000 | &nbsp;&nbsp; 2777844 |
|  | <sup>a</sup> 6.125%, 11/01/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3350000 | &nbsp;&nbsp; 3384074 |
|  | Jefferson Capital Holdings LLC, |  |  |  |
|  | <sup>a</sup> 9.50%, 2/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp; 2222501 |
|  | <sup>a</sup> 8.25%, 5/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3200000 | &nbsp;&nbsp; 3318207 |
| <sup>a</sup> | Macquarie Airfinance Holdings Ltd., 6.50%, 3/26/31 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2118178 |
| <sup>a</sup> | Nationstar Mortgage Holdings, Inc., 5.75%, 11/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;5700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5793434 |
|  | OneMain Finance Corp., |  |  |  |
|  | 7.125%, 11/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 624681 |
|  | 5.375%, 11/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 984346 |
|  | 6.625%, 5/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1439621 |
| <sup>a</sup> | PHH Escrow Issuer LLC/PHH Corp., 9.875%, 11/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;4700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4692433 |
| <sup>a</sup> | PRA Group, Inc., 8.875%, 1/31/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1135035 |
| <sup>a,b</sup> | Stonex Escrow Issuer LLC, 6.875%, 7/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1170000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1182710 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| <sup>a</sup> | StoneX Group, Inc., 7.875%, 3/01/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4719965 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;44683173 |
|  | **Electric 1.8%** |  |  |  |
| <sup>a</sup> | California Buyer Ltd./Atlantica Sustainable Infrastructure PLC, 6.375%, 2/15/32 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp; 1600000 | &nbsp;&nbsp; 1604032 |
| <sup>a</sup> | NRG Energy, Inc., 5.75%, 7/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2300000 | &nbsp;&nbsp; 2314455 |
| <sup>a</sup> | Talen Energy Supply LLC, 8.625%, 6/01/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3100000 | &nbsp;&nbsp; 3324227 |
| <sup>a</sup> | Vistra Operations Co. LLC, 7.75%, 10/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4254214 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;11496928 |
|  | **Electrical Components & Equipment 0.6%** |  |  |  |
| <sup>a</sup> | Energizer Holdings, Inc., 4.375%, 3/31/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1136051 |
| <sup>a</sup> | WESCO Distribution, Inc., 6.375%, 3/15/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2844303 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3980354 |
|  | **Energy 3.1%** |  |  |  |
| <sup>a</sup> | Antero Resources Corp., 7.625%, 2/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1401000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1439313 |
| <sup>a</sup> | Atlantica Sustainable Infrastructure Ltd., 4.125%, 6/15/28 | &nbsp;&nbsp;Spain | &nbsp;&nbsp;&nbsp;&nbsp;2800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2678855 |
| <sup>a</sup> | Calumet Specialty Products Partners LP/Calumet Finance Corp., 8.125%, 1/15/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1890097 |
| <sup>a</sup> | DT Midstream, Inc., 4.125%, 6/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1739647 |
| <sup>a</sup> | Expand Energy Corp., 6.75%, 4/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3544086 |
|  | Kinetik Holdings LP, |  |  |  |
|  | <sup>a</sup> 6.625%, 12/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp; 1228116 |
|  | <sup>a</sup> 5.875%, 6/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3027330 |
|  | Sunoco LP/Sunoco Finance Corp., 6.00%, 4/15/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900317 |
|  | Venture Global Calcasieu Pass LLC, |  |  |  |
|  | <sup>a</sup> 3.875%, 8/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp; 1226556 |
|  | <sup>a</sup> 4.125%, 8/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2300000 | &nbsp;&nbsp; 2130529 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;19804846 |
|  | **Entertainment 4.7%** |  |  |  |
| <sup>a</sup> | Allwyn Entertainment Financing U.K. PLC, 7.875%, 4/30/29 | &nbsp;&nbsp;Czech Republic | &nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5220444 |
| <sup>a</sup> | Banijay Entertainment SAS, 8.125%, 5/01/29 | &nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;4300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4464716 |
|  | Caesars Entertainment, Inc., |  |  |  |
|  | <sup>a</sup> 7.00%, 2/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1900000 | &nbsp;&nbsp; 1968793 |
|  | <sup>a</sup> 6.50%, 2/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2053482 |
|  | <sup>a</sup> 4.625%, 10/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2850000 | &nbsp;&nbsp; 2722263 |
| <sup>a</sup> | Great Canadian Gaming Corp./Raptor LLC, 8.75%, 11/15/29 | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;2175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2130465 |
| <sup>a</sup> | Mohegan Tribal Gaming Authority/MS Digital Entertainment Holdings LLC, 8.25%, 4/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3925183 |
| <sup>a</sup> | Six Flags Entertainment Corp. /Six Flags Theme Parks, Inc./Canada's Wonderland Co., 6.625%, 5/01/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1341678 |
|  | Warnermedia Holdings, Inc., Series WI, 4.054%, 3/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2050312 |
| <sup>a</sup> | Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., 7.125%, 2/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4268344 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;30145680 |
|  | **Environmental Control 1.2%** |  |  |  |
| <sup>a</sup> | Waste Pro USA, Inc., 7.00%, 2/01/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1248742 |
| <sup>a</sup> | Wrangler Holdco Corp., 6.625%, 4/01/32 | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;6200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6459476 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7708218 |
|  | **Financial Services 5.0%** |  |  |  |
| <sup>a</sup> | Apollo Commercial Real Estate Finance, Inc., 4.625%, 6/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;4200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3995602 |
| <sup>a</sup> | Global Net Lease, Inc., 4.50%, 9/30/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775761 |
| <sup>a</sup> | Global Net Lease, Inc./Global Net Lease Operating Partnership LP, senior note, 3.75%, 12/15/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2201720 |
|  | Iron Mountain, Inc., |  |  |  |
|  | <sup>a</sup> 7.00%, 2/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2800000 | &nbsp;&nbsp; 2900425 |
|  | <sup>a</sup> 5.625%, 7/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3850000 | &nbsp;&nbsp; 3821805 |
| <sup>a</sup> | MPT Operating Partnership LP/MPT Finance Corp., 8.50%, 2/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3246819 |
| <sup>a</sup> | Pebblebrook Hotel LP/PEB Finance Corp., 6.375%, 10/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1509087 |
| <sup>a</sup> | PRA Group, Inc., 5.00%, 10/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1383849 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | RHP Hotel Properties LP/RHP Finance Corp., |  |  |  |
|  | <sup>a</sup> 6.50%, 6/15/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1050000 | &nbsp;&nbsp; 1080840 |
|  | <sup>a</sup> 7.25%, 7/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2071584 |
|  | <sup>a</sup> 6.50%, 4/01/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2300000 | &nbsp;&nbsp; 2366981 |
| <sup>a</sup> | Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc., 3.875%, 3/01/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3900000 | &nbsp;&nbsp; 3618357 |
| <sup>a</sup> | VICI Properties LP/VICI Note Co., Inc., 3.875%, 2/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp; 2323146 |
| <sup>a</sup> | XHR LP, 6.625%, 5/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 975000 | &nbsp;&nbsp; 994614 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;32290590 |
|  | **Food 1.0%** |  |  |  |
| <sup>a</sup> | Chobani Holdco II LLC, 8.75%, 10/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2175524 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2335144 |
| <sup>a</sup> | Chobani LLC/Chobani Finance Corp., Inc., 7.625%, 7/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2816943 |
| <sup>a</sup> | U.S. Foods, Inc., 5.75%, 4/15/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1101595 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6253682 |
|  | **Gas 0.9%** |  |  |  |
|  | Venture Global Plaquemines LNG LLC, |  |  |  |
|  | 6.50%, 1/15/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1065000 | &nbsp;&nbsp; 1065000 |
|  | <sup>a</sup> 7.50%, 5/01/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp; 1339397 |
|  | <sup>a</sup> 7.75%, 5/01/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp; 1408280 |
|  | 6.75%, 1/15/36 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1765000 | &nbsp;&nbsp; 1765000 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5577677 |
|  | **Hand/Machine Tools 0.4%** |  |  |  |
|  | Regal Rexnord Corp., |  |  |  |
|  | 6.30%, 2/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1047971 |
|  | 6.40%, 4/15/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1478931 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2526902 |
|  | **Health Care Equipment & Services 1.6%** |  |  |  |
|  | CHS/Community Health Systems, Inc., |  |  |  |
|  | <sup>a</sup> 6.875%, 4/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 798180 |
|  | <sup>a</sup> senior secured note, 6.00%, 1/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3465642 |
| <sup>a</sup> | DaVita, Inc., 4.625%, 6/01/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5752779 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;10016601 |
|  | **Healthcare-Products 1.7%** |  |  |  |
| <sup>a</sup> | Bausch & Lomb Corp., 8.375%, 10/01/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;4100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4284500 |
| <sup>a</sup> | Insulet Corp., 6.50%, 4/01/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;991126 |
| <sup>a</sup> | Neogen Food Safety Corp., 8.625%, 7/20/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;5400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5589983 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;10865609 |
|  | **Healthcare-Services 3.1%** |  |  |  |
| <sup>a</sup> | CHS/Community Health Systems, Inc., 10.875%, 1/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3395574 |
| <sup>a</sup> | Concentra Health Services, Inc., 6.875%, 7/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;5300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5494052 |
| <sup>a</sup> | IQVIA, Inc., 6.25%, 6/01/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3596139 |
|  | MPH Acquisition Holdings LLC, |  |  |  |
|  | <sup>a</sup> 5.75%, 12/31/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 180055 | &nbsp;&nbsp; 148471 |
|  | <sup>a</sup> 11.50%, 12/31/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 275573 | &nbsp;&nbsp; 273495 |
|  | <sup>a</sup> 6.75%, 3/31/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1544370 | &nbsp;&nbsp; 1158185 |
|  | Tenet Healthcare Corp., |  |  |  |
|  | 6.75%, 5/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1449321 |
|  | 6.125%, 10/01/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp; 1803647 |
|  | 6.125%, 6/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2300000 | &nbsp;&nbsp; 2342859 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;19661743 |
|  | **Home Builders 1.3%** |  |  |  |
| <sup>a</sup> | Dream Finders Homes, Inc., 8.25%, 8/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2295044 |
| <sup>a</sup> | Forestar Group, Inc., 6.50%, 3/15/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;4500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4537260 |
| <sup>a</sup> | LGI Homes, Inc., 8.75%, 12/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1560246 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8392550 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Hotels, Restaurants & Leisure 1.4%** |  |  |  |
| <sup>a</sup> | 1011778 BC ULC/New Red Finance, Inc., 6.125%, 6/15/29 | &nbsp;&nbsp;Canada | &nbsp;&nbsp; 3100000 | &nbsp;&nbsp; 3182178 |
|  | Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc., |  |  |  |
|  | <sup>a</sup> 4.625%, 1/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp; 1725195 |
|  | <sup>a</sup> 6.75%, 1/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4600000 | &nbsp;&nbsp; 4248590 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9155963 |
|  | **Household & Personal Products 0.5%** |  |  |  |
| <sup>a</sup> | VM Consolidated, Inc., 5.50%, 4/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3100000 | &nbsp;&nbsp; 3045599 |
|  | **Household Products 0.9%** |  |  |  |
| <sup>a</sup> | Coty, Inc./HFC Prestige Products, Inc./HFC Prestige International U.S. LLC, 6.625%, 7/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1535627 |
| <sup>a</sup> | Opal Bidco SAS, 6.50%, 3/31/32 | &nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;3925000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4008457 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5544084 |
|  | **Housewares 0.4%** |  |  |  |
|  | Newell Brands, Inc., |  |  |  |
|  | 6.375%, 5/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 292597 |
|  | 6.625%, 5/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1050000 | &nbsp;&nbsp; 1004281 |
|  | <sup>a</sup> 8.50%, 6/01/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp; 1315889 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2612767 |
|  | **Insurance 2.4%** |  |  |  |
|  | Acrisure LLC/Acrisure Finance, Inc., |  |  |  |
|  | <sup>a</sup> 7.50%, 11/06/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2067368 |
|  | <sup>a</sup> 8.50%, 6/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2900000 | &nbsp;&nbsp; 3026324 |
|  | Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer, |  |  |  |
|  | <sup>a</sup> 7.375%, 10/01/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1700000 | &nbsp;&nbsp; 1754509 |
|  | <sup>a</sup> 6.75%, 4/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1900000 | &nbsp;&nbsp; 1932737 |
|  | <sup>a</sup> 7.00%, 1/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2600000 | &nbsp;&nbsp; 2691429 |
| <sup>a</sup> | HUB International Ltd., 7.25%, 6/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1464078 |
| <sup>a</sup> | Jones Deslauriers Insurance Management, Inc., 10.50%, 12/15/30 | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;2400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2559907 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;15496352 |
|  | **Internet 1.8%** |  |  |  |
|  | Cogent Communications Group LLC/Cogent Finance, Inc., |  |  |  |
|  | <sup>a</sup> 7.00%, 6/15/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1600000 | &nbsp;&nbsp; 1604346 |
|  | <sup>a</sup> 6.50%, 7/01/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2950000 | &nbsp;&nbsp; 2908580 |
| <sup>a</sup> | Gen Digital, Inc., 6.25%, 4/01/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1286677 |
| <sup>a</sup> | Snap, Inc., 6.875%, 3/01/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2258852 |
|  | Wayfair LLC, |  |  |  |
|  | <sup>a</sup> 7.75%, 9/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1513059 |
|  | <sup>a</sup> 7.25%, 10/31/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2005896 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;11577410 |
|  | **Iron/Steel 0.9%** |  |  |  |
|  | ATI, Inc., 7.25%, 8/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1573114 |
| <sup>a</sup> | Cleveland-Cliffs, Inc., 7.00%, 3/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;4600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4341992 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5915106 |
|  | **IT Services 1.6%** |  |  |  |
| <sup>a</sup> | CACI International, Inc., 6.375%, 6/15/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2118056 |
| <sup>a</sup> | Fortress Intermediate 3, Inc., 7.50%, 6/01/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;5400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5663882 |
| <sup>a</sup> | Seagate Data Storage Technology Pte. Ltd., 5.875%, 7/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2492701 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;10274639 |
|  | **Leisure Time 3.5%** |  |  |  |
|  | Carnival Corp., |  |  |  |
|  | <sup>a</sup> senior note, 5.75%, 3/01/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4450000 | &nbsp;&nbsp; 4489524 |
|  | <sup>a</sup> 5.75%, 3/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4579042 |
|  | NCL Corp. Ltd., |  |  |  |
|  | <sup>a</sup> 5.875%, 3/15/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 358000 | &nbsp;&nbsp; 359867 |
|  | <sup>a</sup> 7.75%, 2/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1750000 | &nbsp;&nbsp; 1861839 |
|  | <sup>a</sup> 6.75%, 2/01/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2800000 | &nbsp;&nbsp; 2862310 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Royal Caribbean Cruises Ltd., |  |  |  |
|  | <sup>a</sup> 5.625%, 9/30/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1006734 |
|  | <sup>a</sup> 6.00%, 2/01/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2900000 | &nbsp;&nbsp; 2957716 |
|  | Viking Cruises Ltd., |  |  |  |
|  | <sup>a</sup> 9.125%, 7/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 800000 | &nbsp;&nbsp; 862101 |
|  | <sup>a</sup> 5.875%, 9/15/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp; 1101302 |
|  | <sup>a</sup> 7.00%, 2/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2600000 | &nbsp;&nbsp; 2624427 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;22704862 |
|  | **Machinery-Construction & Mining 0.5%** |  |  |  |
| <sup>a</sup> | Manitowoc Co., Inc., 9.25%, 10/01/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;842954 |
| <sup>a</sup> | Terex Corp., 6.25%, 10/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2205931 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3048885 |
|  | **Machinery-Diversified 0.4%** |  |  |  |
| <sup>a</sup> | Esab Corp., 6.25%, 4/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2460266 |
|  | **Materials 1.8%** |  |  |  |
|  | Arcosa, Inc., |  |  |  |
|  | <sup>a</sup> 6.875%, 8/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp; 2284579 |
|  | <sup>a</sup> 4.375%, 4/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 2904386 |
| <sup>a</sup> | Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc., senior note, 5.25%, 8/15/27 | &nbsp;&nbsp;Luxembourg | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89347 |
| <sup>a</sup> | Constellium SE, 3.75%, 4/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1880786 |
| <sup>a</sup> | Magnera Corp., 4.75%, 11/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1769281 |
| <sup>a</sup> | Novelis Corp., 4.75%, 1/30/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2684701 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;11613080 |
|  | **Media 1.6%** |  |  |  |
| <sup>a</sup> | CSC Holdings LLC, 3.375%, 2/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;867199 |
| <sup>a</sup> | Gray Media, Inc., 5.375%, 11/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;938370 |
| <sup>a</sup> | McGraw-Hill Education, Inc., 7.375%, 9/01/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;4600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4801946 |
| <sup>a</sup> | Sinclair Television Group, Inc., 8.125%, 2/15/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3437694 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;10045209 |
|  | **Media & Entertainment 2.9%** |  |  |  |
|  | CCO Holdings LLC/CCO Holdings Capital Corp., |  |  |  |
|  | <sup>a</sup> 5.375%, 6/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3700000 | &nbsp;&nbsp; 3689043 |
|  | <sup>a</sup> 4.50%, 8/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5700000 | &nbsp;&nbsp; 5437826 |
|  | Clear Channel Outdoor Holdings, Inc., |  |  |  |
|  | <sup>a</sup> 7.50%, 6/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 800000 | &nbsp;&nbsp; 740574 |
|  | <sup>a</sup> 7.875%, 4/01/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4700000 | &nbsp;&nbsp; 4855824 |
| <sup>a</sup> | Directv Financing LLC/Directv Financing Co-Obligor, Inc., 5.875%, 8/15/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2692875 |
| <sup>a</sup> | Sirius XM Radio LLC, 4.00%, 7/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1441708 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;18857850 |
|  | **Mining 0.6%** |  |  |  |
| <sup>a</sup> | Constellium SE, 6.375%, 8/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2950199 |
| <sup>a</sup> | Novelis Corp., 6.875%, 1/30/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1138012 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4088211 |
|  | **Miscellaneous Manufacturing 0.7%** |  |  |  |
|  | Axon Enterprise, Inc., |  |  |  |
|  | <sup>a</sup> 6.25%, 3/15/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp; 1135378 |
|  | <sup>a</sup> 6.125%, 3/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1350000 | &nbsp;&nbsp; 1391661 |
| <sup>a</sup> | Calderys Financing LLC, 11.25%, 6/01/28 | &nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;1700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1804355 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4331394 |
|  | **Office/Business Equipment 0.4%** |  |  |  |
| <sup>a</sup> | Zebra Technologies Corp., 6.50%, 6/01/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2366590 |
|  | **Oil & Gas 3.6%** |  |  |  |
| <sup>a</sup> | Calumet Specialty Products Partners LP/Calumet Finance Corp., 9.25%, 7/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1442000 |
| <sup>a</sup> | CITGO Petroleum Corp., 8.375%, 1/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;938384 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Crescent Energy Finance LLC, |  |  |  |
|  | <sup>a,b</sup> 8.375%, 1/15/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2570000 | &nbsp;&nbsp; 2573365 |
|  | <sup>a</sup> 7.375%, 1/15/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2900000 | &nbsp;&nbsp; 2774678 |
| <sup>a</sup> | Kraken Oil & Gas Partners LLC, 7.625%, 8/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1875000 | &nbsp;&nbsp; 1843633 |
|  | Nabors Industries, Inc., |  |  |  |
|  | <sup>a</sup> 8.875%, 8/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp; 1784635 |
|  | <sup>a</sup> 9.125%, 1/31/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1900000 | &nbsp;&nbsp; 1820758 |
|  | PBF Holding Co. LLC/PBF Finance Corp., 6.00%, 2/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 900000 | &nbsp;&nbsp; 861448 |
| <sup>a</sup> | Sunoco LP, 7.25%, 5/01/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp; 2521623 |
| <sup>a</sup> | Transocean Titan Financing Ltd., 8.375%, 2/01/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1719048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1747424 |
|  | Transocean, Inc., |  |  |  |
|  | <sup>a</sup> 8.25%, 5/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1100000 | &nbsp;&nbsp; 1017860 |
|  | 6.80%, 3/15/38 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1600000 | &nbsp;&nbsp; 1126476 |
|  | <sup>a</sup> 8.75%, 2/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2480000 | &nbsp;&nbsp; 2552314 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;23004598 |
|  | **Oil & Gas Services 1.2%** |  |  |  |
| <sup>a</sup> | Aris Water Holdings LLC, 7.25%, 4/01/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3562325 |
| <sup>a</sup> | Kodiak Gas Services LLC, 7.25%, 2/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3726184 |
|  | Oceaneering International, Inc., 6.00%, 2/01/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;504451 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7792960 |
|  | **Packaging & Containers 1.7%** |  |  |  |
| <sup>a</sup> | Clydesdale Acquisition Holdings, Inc., 6.75%, 4/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;4900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5031780 |
| <sup>a</sup> | Intelligent Packaging Ltd. Finco, Inc./Intelligent Packaging Ltd. Co-Issuer LLC, 6.00%, 9/15/28 | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;1675000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1675000 |
| <sup>a</sup> | Sealed Air Corp./Sealed Air Corp. U.S., 6.125%, 2/01/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;812229 |
| <sup>a</sup> | Toucan FinCo Ltd./Toucan FinCo Can, Inc./Toucan FinCo U.S. LLC, 9.50%, 5/15/30 | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;3650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3734234 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;11253243 |
|  | **Pharmaceuticals 1.3%** |  |  |  |
| <sup>a</sup> | Endo Finance Holdings, Inc., 8.50%, 4/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3285405 |
| <sup>a</sup> | Grifols SA, 4.75%, 10/15/28 | &nbsp;&nbsp;Spain | &nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3847808 |
| <sup>a,d</sup> | Par Pharmaceutical, Inc., 7.50%, 4/01/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Teva Pharmaceutical Finance Netherlands III BV, 8.125%, 9/15/31 | &nbsp;&nbsp;Israel | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1133610 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8266823 |
|  | **Pharmaceuticals, Biotechnology & Life Sciences 1.2%** |  |  |  |
| <sup>a</sup> | Kedrion SpA, 6.50%, 9/01/29 | &nbsp;&nbsp;Italy | &nbsp;&nbsp;&nbsp;&nbsp;6100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5858375 |
|  | Teva Pharmaceutical Finance Netherlands III BV, 4.75%, 5/09/27 | &nbsp;&nbsp;Israel | &nbsp;&nbsp;&nbsp;&nbsp;2100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2098950 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7957325 |
|  | **Pipelines 3.1%** |  |  |  |
|  | Hess Midstream Operations LP, |  |  |  |
|  | <sup>a</sup> 5.875%, 3/01/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1900000 | &nbsp;&nbsp; 1929509 |
|  | <sup>a</sup> 6.50%, 6/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3200000 | &nbsp;&nbsp; 3293053 |
| <sup>a</sup> | Martin Midstream Partners LP/Martin Midstream Finance Corp., 11.50%, 2/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3482120 |
| <sup>a</sup> | Northriver Midstream Finance LP, 6.75%, 7/15/32 | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;3300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3420031 |
|  | Venture Global LNG, Inc., |  |  |  |
|  | <sup>a</sup> 8.125%, 6/01/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1750000 | &nbsp;&nbsp; 1809796 |
|  | <sup>a</sup> 8.375%, 6/01/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp; 2182636 |
|  | <sup>a</sup> 9.50%, 2/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3300000 | &nbsp;&nbsp; 3597010 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;19714155 |
|  | **Real Estate Management & Development 0.1%** |  |  |  |
| <sup>a</sup> | Greystar Real Estate Partners LLC, 7.75%, 9/01/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;849779 |
|  | **Retail 1.4%** |  |  |  |
| <sup>a</sup> | Evergreen Acqco 1 LP/TVI, Inc., 9.75%, 4/26/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;899000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;941171 |
| <sup>a</sup> | FirstCash, Inc., 6.875%, 3/01/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;4300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4454985 |
| <sup>a</sup> | QXO Building Products, Inc., 6.75%, 4/30/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3511187 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8907343 |
|  | **Software & Services 0.1%** |  |  |  |
| <sup>a</sup> | Rocket Software, Inc., 6.50%, 2/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;582763 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Technology Hardware & Equipment 0.4%** |  |  |  |
| <sup>a</sup> | McAfee Corp., 7.375%, 2/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3100000 | &nbsp;&nbsp; 2930628 |
|  | **Telecommunication Services 2.2%** |  |  |  |
| <sup>a,c</sup> | Altice France Holding SA, senior note, 10.50%, 5/15/27 | &nbsp;&nbsp;Luxembourg | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 208971 |
| <sup>a</sup> | Altice France SA, first lien, 8.125%, 2/01/27 | &nbsp;&nbsp;France | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 900755 |
| <sup>a</sup> | CommScope LLC, 7.125%, 7/01/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1475317 |
| <sup>a</sup> | CommScope Technologies LLC, 5.00%, 3/15/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3411990 |
| <sup>a</sup> | Connect Finco SARL/Connect U.S. Finco LLC, 9.00%, 9/15/29 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp; 3800000 | &nbsp;&nbsp; 3824236 |
| <sup>a</sup> | Zegona Finance PLC, 8.625%, 7/15/29 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp; 4598828 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;14420097 |
|  | **Telecommunications 0.7%** |  |  |  |
| <sup>a</sup> | Iliad Holding SASU, 7.00%, 4/15/32 | &nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;4250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4359782 |
|  | **Transportation 1.9%** |  |  |  |
| <sup>a,b</sup> | Beacon Mobility Corp., 7.25%, 8/01/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1275000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1302823 |
| <sup>a</sup> | First Student Bidco, Inc./First Transit Parent, Inc., 4.00%, 7/31/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1317007 |
| <sup>a</sup> | Watco Cos. LLC/Watco Finance Corp., 7.125%, 8/01/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;5200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5439491 |
| <sup>a</sup> | XPO, Inc., 7.125%, 2/01/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3880456 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;11939777 |
|  | **Utilities 1.5%** |  |  |  |
| <sup>a</sup> | Leeward Renewable Energy Operations LLC, 4.25%, 7/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3643949 |
| <sup>a</sup> | TTM Technologies, Inc., 4.00%, 3/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3825409 |
| <sup>a</sup> | Vistra Operations Co. LLC, senior note, 5.50%, 9/01/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2253553 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9722911 |
|  | **Total Corporate Bonds & Notes (Cost $604,876,493)** |  |  | &nbsp;&nbsp;609702124 |
|  |  |  | &nbsp;&nbsp; **Shares** |  |
|  | **Common Stocks 0.0%<sup>†</sup>** |  |  |  |
|  | **IT Services 0.0%<sup>†</sup>** |  |  |  |
| <sup>e</sup> | DSG TopCo, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6630 |
|  | **Pharmaceuticals 0.0%<sup>†</sup>** |  |  |  |
| <sup>e</sup> | Endo, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117842 |
|  | **Total Common Stocks (Cost $102,541)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124472 |
|  |  |  | &nbsp;&nbsp;**Principal Amount\*** |  |
|  | **Municipal Bonds 0.3%** |  |  |  |
|  | **Arizona 0.3%** |  |  |  |
| <sup>a</sup> | Maricopa County Industrial Development Authority, Grand Canyon University Obligated Group, 7.375%, 10/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1545000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1600945 |
|  | **Total Municipal Bonds (Cost $1,553,660)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1600945 |
|  |  |  | &nbsp;&nbsp; **Shares** |  |
|  | **Preferred Stock 0.1%** |  |  |  |
|  | **Aerospace/Defense 0.1%** |  |  |  |
| <sup>f</sup> | Boeing Co., 6.00%, pfd., 10/15/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;748000 |
|  | **Total Preferred Stocks (Cost $550,000)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;748000 |
|  |  |  | &nbsp;&nbsp;**Principal Amount\*** |  |
| <sup>f</sup> | **Senior Floating Rate Interests 0.9%** |  |  |  |
|  | **Software 0.2%** |  |  |  |
|  | Athenahealth Group, Inc., 2022 Term Loan B, 1 mo. USD Term SOFR + 2.75%, 7.077%, 2/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1473945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1474129 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Chemicals 0.4%** |  |  |  |
|  | Hexion Holdings Corp., 2022 USD 2nd Lien Term Loan, 1 mo. USD Term SOFR + 7.44%, 11.864%, 3/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 837209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 821511 |
|  | PMHC II, Inc., 2022 Term Loan B, 3 mo. USD Term SOFR + 4.25%, 8.642%, 4/23/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1653250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1448082 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2269593 |
|  | **Media 0.0%** |  |  |  |
| <sup>d</sup> | Diamond Sports Group LLC, 2022 First Priority Term Loan, 1 mo. USD Term SOFR + 10.00%, 14.316%, 5/25/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 17268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
|  | **Hotels, Restaurants & Leisure 0.3%** |  |  |  |
|  | Fertitta Entertainment LLC, 2022 Term Loan B, 1 mo. USD Term SOFR + 3.50%, 7.827%, 1/27/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1644750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1644816 |
|  | **IT Services 0.0%<sup>†</sup>** |  |  |  |
|  | Diamond Sports Group LLC, 2025 PIK Exit Term Loan, 15.00%, 1/02/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45144 |
|  | **Total Floating Rate Loans (Cost $5,649,095)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5433682 |
|  | **Total Investments before Short-Term<br> Investments (Cost $612,731,789)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;617609223 |
|  | **Short-Term Investments 1.7%** |  |  |  |
|  | **U.S. Government & Agency Securities 1.7%** |  |  |  |
| <sup>g</sup> | Federal Home Loan Bank Discount Notes, 4.158%, 07/01/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;11000000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10998729 |
|  | **Total Short-Term Investments<br> (Cost $11,000,000)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10998729 |
|  | **Total Investments<br> (Cost $623,731,789) 98.1%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;628607952 |
|  | **Other Assets, less Liabilities 1.9%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12361039 |
|  | **Net Assets 100.0%** |  |  | &nbsp;&nbsp;$640968991 |

---

---

| |
|:---|
| <sup>†</sup>Rounds to less than 0.1% of net assets. |
| \*The principal amount is stated in U.S. dollars unless otherwise indicated. |
| <sup>a</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional buyers or in a public offering registered under the Securities Act of 1933. At June 30, 2025, the aggregate value of these securities was $578,323,481, representing 90.2% of net assets. |
| <sup>b</sup>Security purchased on a when-issued basis. |
| <sup>c</sup>Defaulted security or security for which income has been deemed uncollectible. |
| <sup>d</sup>Fair valued using significant unobservable inputs. See Note 5 regarding fair value measurements. |
| <sup>e</sup>Non-income producing. |
| <sup>f</sup>Variable rate security. The rate shown represents the yield at period end. |
| <sup>g</sup>The rate shown represents the yield at period end. |

---

#### Abbreviations

---

| | |
|:---|:---|
| **Selected Portfolio** |  |
| **FRN** | Floating Rate Note |
| **PIK** | Payment-In-Kind |
| **SOFR** | Secured Overnight Financing Rate |
| **SPA** | Standby Purchase Agreement |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | |
|:---|:---|:---|:---|
|  | **Franklin Income Equity Focus ETF** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
|  | **Common Stocks 55.4%** |  |  |
|  | **Communication Services 2.7%** |  |  |
|  | Verizon Communications, Inc. | &nbsp;&nbsp; 56932 | &nbsp;&nbsp;$2463448 |
|  | **Consumer Discretionary 4.3%** |  |  |
|  | Home Depot, Inc. | &nbsp;&nbsp; 3739 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1370867 |
|  | Lowe's Cos., Inc. | &nbsp;&nbsp; 4668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1035689 |
|  | McDonald's Corp. | &nbsp;&nbsp; 3616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1056487 |
|  | Starbucks Corp. | &nbsp;&nbsp; 5358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 490953 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3953996 |
|  | **Consumer Staples 7.2%** |  |  |
|  | Coca-Cola Co. | &nbsp;&nbsp;&nbsp;&nbsp;14350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1015263 |
|  | Nestle SA, ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481603 |
|  | PepsiCo, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2252206 |
|  | Philip Morris International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1159257 |
|  | Procter & Gamble Co. | &nbsp;&nbsp;&nbsp;&nbsp;10701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1704883 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6613212 |
|  | **Energy 6.1%** |  |  |
|  | Chevron Corp. | &nbsp;&nbsp;&nbsp;&nbsp;16340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2339725 |
|  | Exxon Mobil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;12129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1307506 |
|  | Schlumberger NV | &nbsp;&nbsp;&nbsp;&nbsp;25621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;865990 |
|  | TotalEnergies SE, ADR | &nbsp;&nbsp;&nbsp;&nbsp;17456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1071624 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5584845 |
|  | **Financials 5.4%** |  |  |
|  | Fifth Third Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;11581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476327 |
|  | JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1642050 |
|  | Morgan Stanley | &nbsp;&nbsp;&nbsp;&nbsp;10268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1446350 |
|  | PNC Financial Services Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501097 |
|  | U.S. Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;21120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;955680 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5021504 |
|  | **Health Care 5.9%** |  |  |
|  | AbbVie, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;464050 |
|  | AstraZeneca PLC, ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;508866 |
|  | Johnson & Johnson | &nbsp;&nbsp;&nbsp;&nbsp;17473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2669001 |
|  | Merck & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1838254 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5480171 |
|  | **Industrials 9.5%** |  |  |
| <sup>a</sup> | Boeing Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;304866 |
|  | Honeywell International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1029795 |
|  | Johnson Controls International PLC | &nbsp;&nbsp;&nbsp;&nbsp;20107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2123701 |
|  | Lockheed Martin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1768732 |
|  | RTX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;11105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1621552 |
|  | Union Pacific Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1283847 |
|  | United Parcel Service, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;612605 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8745098 |
|  | **Information Technology 5.4%** |  |  |
|  | Analog Devices, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1362664 |
|  | Cisco Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;17960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1246065 |
|  | International Business Machines Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1199460 |
|  | Texas Instruments, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1162672 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4970861 |
|  | **Materials 4.2%** |  |  |
|  | Air Products & Chemicals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1627204 |
|  | Albemarle Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;282516 |
|  | Freeport-McMoRan, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10931 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;473859 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | Rio Tinto PLC, ADR | &nbsp;&nbsp; 25021 | &nbsp;&nbsp; 1459475 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;3843054 |
|  | **Utilities 4.7%** |  |  |
|  | Duke Energy Corp. | &nbsp;&nbsp; 6764 | &nbsp;&nbsp; 798152 |
|  | Sempra | &nbsp;&nbsp; 11024 | &nbsp;&nbsp; 835288 |
|  | Southern Co. | &nbsp;&nbsp; 29483 | &nbsp;&nbsp; 2707424 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;4340864 |
|  | **Total Common Stocks (Cost $46,967,692)** |  | &nbsp;&nbsp;51017053 |
|  | **Preferred Stocks 4.4%** |  |  |
|  | **Industrials 1.3%** |  |  |
|  | Boeing Co., 6.00%, pfd. | &nbsp;&nbsp;&nbsp;&nbsp;17884 | &nbsp;&nbsp;&nbsp;&nbsp;1216112 |
|  | **Information Technology 0.6%** |  |  |
|  | Hewlett Packard Enterprise Co., 7.625%, pfd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9697 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;570960 |
|  | **Materials 1.1%** |  |  |
|  | Albemarle Corp., 7.25%, pfd. | &nbsp;&nbsp;&nbsp;&nbsp;29600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950160 |
|  | **Utilities 1.4%** |  |  |
|  | NextEra Energy, Inc., 7.299%, pfd. | &nbsp;&nbsp;&nbsp;&nbsp;26400 | &nbsp;&nbsp;&nbsp;&nbsp;1243176 |
|  | **Total Preferred Stocks (Cost $4,090,798)** |  | &nbsp;&nbsp;&nbsp;&nbsp;3980408 |
|  | **Equity-Linked Securities 38.8%** |  |  |
|  | **Other 38.8%** |  |  |
| <sup>b</sup> | Barclays Bank PLC into AbbVie Inc., 8.00%, 10/9/25 | &nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;1864197 |
| <sup>b</sup> | Barclays Bank PLC into Microchip Technology Inc., 10.00%, 10/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;19000 | &nbsp;&nbsp;&nbsp;&nbsp;1355088 |
| <sup>b</sup> | Barclays Bank PLC into RTX Corp., 7.50%, 10/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9405 | &nbsp;&nbsp;&nbsp;&nbsp;1193494 |
| <sup>b</sup> | BNP Paribas Issuance BV into Hewlett Packard Enterprise, 12.00%, 9/24/25 | &nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;999900 |
| <sup>b</sup> | BNP Paribas Issuance BV into Pfizer Inc., 10.50%, 7/23/25 | &nbsp;&nbsp;&nbsp;&nbsp;42000 | &nbsp;&nbsp;&nbsp;&nbsp;1024777 |
| <sup>b</sup> | BNP Paribas Issuance BV into Target Corp., 9.00%, 7/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;702779 |
| <sup>b</sup> | BNP Paribas SA into Applied Materials Inc., 10.00%, 12/10/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;595811 |
| <sup>b</sup> | Citigroup Global Markets Holdings, Inc. into Alphabet Inc., 8.50%, 8/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp;1047779 |
| <sup>b</sup> | Citigroup Global Markets Holdings, Inc. into Analog Devices Inc., 9.00%, 7/8/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8100 | &nbsp;&nbsp;&nbsp;&nbsp;1930135 |
| <sup>b</sup> | Citigroup Global Markets Holdings, Inc. into Newmont Corp., 9.50%, 2/18/26 | &nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;722748 |
| <sup>b</sup> | Citigroup Global Markets Holdings, Inc. into The Home Depot Inc., 7.50%, 7/21/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3300 | &nbsp;&nbsp;&nbsp;&nbsp;1204997 |
| <sup>b</sup> | JPMorgan Chase Bank NA into Comcast Corp., 8.50%, 9/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;38000 | &nbsp;&nbsp;&nbsp;&nbsp;1362035 |
| <sup>b</sup> | JPMorgan Chase Bank NA into CVS Health Corp., 9.00%, 11/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456860 |
| <sup>b</sup> | JPMorgan Chase Bank NA into Exxon Mobil Corp., 8.50%, 11/3/25 | &nbsp;&nbsp;&nbsp;&nbsp;11000 | &nbsp;&nbsp;&nbsp;&nbsp;1191454 |
| <sup>b</sup> | Merrill Lynch BV into Dell Technologies Inc., 12.00%, 3/9/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;855265 |
| <sup>b</sup> | Merrill Lynch BV into Microsoft Inc., 6.00%, 2/13/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;920405 |
| <sup>b</sup> | Merrill Lynch BV into Morgan Stanley, 9.00%, 7/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;18000 | &nbsp;&nbsp;&nbsp;&nbsp;1938918 |
| <sup>b</sup> | Mizuho Markets Cayman LP into NextEra Energy Inc., 8.50%, 10/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;17500 | &nbsp;&nbsp;&nbsp;&nbsp;1238678 |
| <sup>b</sup> | Mizuho Markets Cayman LP into S&P 500 Index, 8.00%, 9/23/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;&nbsp;&nbsp;1010076 |
| <sup>b</sup> | Royal Bank of Canada into Freeport-McMoRan Inc., 10.00%, 7/8/25 | &nbsp;&nbsp;&nbsp;&nbsp;35300 | &nbsp;&nbsp;&nbsp;&nbsp;1521471 |
| <sup>b</sup> | Royal Bank of Canada into Medtronic PLC, 8.00%, 8/7/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;556810 |
| <sup>b</sup> | Royal Bank of Canada into Nike Inc., Class B, 10.00%, 12/24/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;581325 |
| <sup>b</sup> | Royal Bank of Canada into Oracle Corp., 10.00%, 5/13/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130985 |
| <sup>b</sup> | Royal Bank of Canada into Texas Instruments Inc., 8.50%, 7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;11000 | &nbsp;&nbsp;&nbsp;&nbsp;2279470 |
| <sup>b</sup> | Toronto-Dominion Bank into Apple Inc., 7.00%, 4/13/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000 | &nbsp;&nbsp;&nbsp;&nbsp;1037678 |
| <sup>b</sup> | Toronto-Dominion Bank into Starbucks Corp., 9.00%, 1/12/26 | &nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;1861046 |
| <sup>b</sup> | UBS AG into Bank of America Corp., 8.00%, 1/28/26 | &nbsp;&nbsp;&nbsp;&nbsp;22000 | &nbsp;&nbsp;&nbsp;&nbsp;1038842 |
| <sup>b</sup> | UBS AG into IBM US, 8.00%, 8/27/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;1728776 |
| <sup>b</sup> | Wells Fargo Bank NA into Broadcom Inc., 9.50%, 8/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;1573208 |
| <sup>b</sup> | Wells Fargo Bank NA into Salesforce.com, inc., 9.00%, 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;672914 |
| <sup>b</sup> | Wells Fargo Bank NA into UnitedHealth Group, 7.00%, 7/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3550 | &nbsp;&nbsp;&nbsp;&nbsp;1111628 |
|  |  |  | &nbsp;&nbsp;35709549 |
|  | **Total Equity-Linked Securities (Cost $36,229,853)** |  | &nbsp;&nbsp;35709549 |
|  | **Total Investments before Short-Term Investments<br> (Cost $87,288,343)** |  | &nbsp;&nbsp;90707010 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  | &nbsp;&nbsp;**Country** | &nbsp;&nbsp;**Principal Amount\*** |  |
|  | **Short-Term Investments 1.0%** |  |  |  |
|  | **U.S. Government & Agency Securities 1.0%** |  |  |  |
| <sup>c</sup> | Federal Home Loan Bank Discount Notes, 4.158%, 7/01/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;$940000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 939891 |
|  | **Total Short-Term Investments (Cost $940,000)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;939891 |
|  | **Total Investments (Cost $88,228,343) 99.6%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91646901 |
|  | **Other Assets, less Liabilities 0.4%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;404945 |
|  | **Net Assets 100.0%** |  |  | &nbsp;&nbsp;$92051846 |

---

---

| |
|:---|
| \*The principal amount is stated in U.S. dollars unless otherwise indicated. |
| <sup>a</sup>Non-income producing. |
| <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional buyers or in a public offering registered under the Securities Act of 1933. At June 30, 2025, the aggregate value of these securities was $35,709,549, representing 38.8% of net assets. |
| <sup>c</sup>The rate shown represents the yield at period end. |

---

#### Abbreviations

---

| | |
|:---|:---|
| **Selected Portfolio** |  |
| **ADR** | American Depositary Receipt |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Franklin Income Focus ETF** | &nbsp;&nbsp;**Country** | &nbsp;&nbsp;**Principal Amount\*** | &nbsp;&nbsp;**Value** |
|  | **Corporate Bonds & Notes 29.6%** |  |  |  |
|  | **Advertising 0.2%** |  |  |  |
|  | Clear Channel Outdoor Holdings, Inc., |  |  |  |
|  | <sup>a</sup> 5.125%, 8/15/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 820000 | &nbsp;&nbsp;$811184 |
|  | <sup>a</sup> 9.00%, 9/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 786381 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1597565 |
|  | **Aerospace & Defense 1.2%** |  |  |  |
|  | Boeing Co., |  |  |  |
|  | 5.15%, 5/01/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3060000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3116798 |
|  | 6.528%, 5/01/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1630775 |
| <sup>a</sup> | Bombardier, Inc., 7.25%, 7/01/31 | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630570 |
|  | TransDigm, Inc., |  |  |  |
|  | <sup>a</sup> 6.75%, 8/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 613434 |
|  | <sup>a</sup> 6.00%, 1/15/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2515197 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8506774 |
|  | **Agriculture 0.3%** |  |  |  |
|  | BAT Capital Corp., |  |  |  |
|  | 7.75%, 10/19/32 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp; 850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 984228 |
|  | 6.421%, 8/02/33 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 543273 |
|  | Philip Morris International, Inc., 5.375%, 2/15/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516561 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2044062 |
|  | **Airlines 1.5%** |  |  |  |
| <sup>a</sup> | American Airlines, Inc., 8.50%, 5/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5245795 |
| <sup>a</sup> | American Airlines, Inc./AAdvantage Loyalty IP Ltd., 5.75%, 4/20/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;999748 |
| <sup>a</sup> | Delta Air Lines, Inc./SkyMiles IP Ltd., 4.75%, 10/20/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1905299 |
| <sup>a</sup> | JetBlue Airways Corp./JetBlue Loyalty LP, 9.875%, 9/20/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;730130 |
| <sup>a</sup> | Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets Ltd., 6.50%, 6/20/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;664000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;665286 |
| <sup>a</sup> | United Airlines, Inc., 4.625%, 4/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1065000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1034493 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10580751 |
|  | **Apparel 0.4%** |  |  |  |
| <sup>a,b</sup> | Beach Acquisition Bidco LLC, 10.00%, 7/15/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2597537 |
| <sup>a</sup> | Hanesbrands, Inc., 9.00%, 2/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370904 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2968441 |
|  | **Auto Manufacturers 1.3%** |  |  |  |
|  | Ford Motor Co., |  |  |  |
|  | 3.25%, 2/12/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1476073 |
|  | 6.10%, 8/19/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2297768 |
|  | Ford Motor Credit Co. LLC, 7.35%, 3/06/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1260000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1330634 |
|  | General Motors Financial Co., Inc., |  |  |  |
|  | 6.40%, 1/09/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2105279 |
|  | 5.80%, 1/07/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 875715 |
| <sup>a</sup> | Rivian Holdings LLC/Rivian LLC/Rivian Automotive LLC, 10.00%, 1/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;983147 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9068616 |
|  | **Auto Parts & Equipment 0.2%** |  |  |  |
| <sup>a</sup> | Dornoch Debt Merger Sub, Inc., 6.625%, 10/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;969545 |
|  | **Banks 2.3%** |  |  |  |
|  | Bank of America Corp., 4.571% to 4/27/32, FRN thereafter, 4/27/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1476534 |
|  | Barclays PLC, |  |  |  |
|  | 7.437% to 11/02/32, FRN thereafter, 11/02/33 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp; 1465000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1663242 |
|  | 7.625% to 3/15/35, FRN thereafter, 12/31/99 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1006793 |
|  | Citigroup, Inc., |  |  |  |
|  | 6.27% to 11/17/32, FRN thereafter, 11/17/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 538566 |
|  | 6.174% to 5/25/33, FRN thereafter, 5/25/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 495000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 518379 |
|  | 6.02% to 1/24/35, FRN thereafter, 1/24/36 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1027445 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Goldman Sachs Group, Inc., |  |  |  |
|  | 6.561% to 10/24/33, FRN thereafter, 10/24/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 825000 | &nbsp;&nbsp; 912538 |
|  | 6.85% to 2/10/30, FRN thereafter, 12/31/99 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1034488 |
|  | JPMorgan Chase & Co., |  |  |  |
|  | 5.04% to 1/23/27, FRN thereafter, 1/23/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 980000 | &nbsp;&nbsp; 989608 |
|  | Series OO, 6.50% to 4/01/30, FRN thereafter, 12/31/99 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1035274 |
|  | KeyBank NA, 4.90%, 8/08/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 615000 | &nbsp;&nbsp; 593722 |
|  | Morgan Stanley, |  |  |  |
|  | 6.342% to 10/18/32, FRN thereafter, 10/18/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1148000 | &nbsp;&nbsp; 1246759 |
|  | 5.25% to 4/21/33, FRN thereafter, 4/21/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1424673 |
|  | PNC Financial Services Group, Inc., 5.068% to 1/24/33, FRN thereafter, 1/24/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;512741 |
|  | Truist Financial Corp., 4.916% to 7/28/32, FRN thereafter, 7/28/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;527153 |
|  | U.S. Bancorp, 5.836% to 6/10/33, FRN thereafter, 6/12/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315233 |
|  | Wells Fargo & Co., 5.389% to 4/24/33, FRN thereafter, 4/24/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1101000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1127002 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;15950150 |
|  | **Chemicals 0.8%** |  |  |  |
|  | Celanese U.S. Holdings LLC, 6.629%, 7/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2622680 |
| <sup>a</sup> | Rain Carbon, Inc., 12.25%, 9/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;536851 |
|  | SCIH Salt Holdings, Inc., |  |  |  |
|  | <sup>a</sup> 4.875%, 5/01/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1155000 | &nbsp;&nbsp; 1126026 |
|  | <sup>a</sup> senior unsecured note, 144A, 6.625%, 5/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp; 1223173 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5508730 |
|  | **Commercial Services & Supplies 0.5%** |  |  |  |
| <sup>a</sup> | Ashtead Capital, Inc., 4.25%, 11/01/29 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;538841 |
| <sup>a</sup> | Herc Holdings, Inc., 7.00%, 6/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1044982 |
| <sup>a</sup> | RR Donnelley & Sons Co., 9.50%, 8/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1501133 |
| <sup>a</sup> | United Rentals North America, Inc., 6.00%, 12/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;497093 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3582049 |
|  | **Construction Materials 0.3%** |  |  |  |
|  | Carrier Global Corp., 2.722%, 2/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;790212 |
| <sup>a</sup> | EMRLD Borrower LP/Emerald Co-Issuer, Inc., 6.625%, 12/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;511711 |
| <sup>a</sup> | Quikrete Holdings, Inc., 6.375%, 3/01/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1028945 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2330868 |
|  | **Electric 2.8%** |  |  |  |
|  | American Electric Power Co., Inc., 5.625%, 3/01/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312022 |
|  | Calpine Corp., |  |  |  |
|  | <sup>a</sup> senior note, 5.125%, 3/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1499257 |
|  | <sup>a</sup> 4.625%, 2/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 741220 |
|  | <sup>a</sup> senior secured bond, 144A, 3.75%, 3/01/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 949378 |
|  | Dominion Energy, Inc., Series C, 3.375%, 4/01/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285218 |
|  | NextEra Energy Capital Holdings, Inc., 5.25%, 3/15/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;505019 |
|  | NRG Energy, Inc., |  |  |  |
|  | <sup>a</sup> 3.625%, 2/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1320000 | &nbsp;&nbsp; 1215726 |
|  | <sup>a</sup> 7.00%, 3/15/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 823943 |
|  | <sup>a</sup> 6.25%, 11/01/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1529210 |
|  | Pacific Gas & Electric Co., 3.15%, 1/01/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1783013 |
|  | PG&E Corp., 5.25%, 7/01/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;953267 |
|  | Southern Co., |  |  |  |
|  | 5.70%, 10/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 480000 | &nbsp;&nbsp; 504673 |
|  | Series 2025, 6.375% to 12/15/34, FRN thereafter, 3/15/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1031473 |
| <sup>a</sup> | Vistra Corp., 8.00% to 10/15/26, FRN thereafter, 12/31/99 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2049746 |
|  | Vistra Operations Co. LLC, |  |  |  |
|  | <sup>a</sup> 4.375%, 5/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1462947 |
|  | <sup>a</sup> 3.70%, 1/30/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 535000 | &nbsp;&nbsp; 528156 |
|  | <sup>a</sup> 7.75%, 10/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 531777 |
|  | <sup>a</sup> 6.95%, 10/15/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 800000 | &nbsp;&nbsp; 879180 |
|  | <sup>a</sup> 6.875%, 4/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1464585 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;19049810 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Entertainment 0.8%** |  |  |  |
|  | Caesars Entertainment, Inc., |  |  |  |
|  | <sup>a</sup> 8.125%, 7/01/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 161000 | &nbsp;&nbsp; 161149 |
|  | <sup>a</sup> 4.625%, 10/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 855000 | &nbsp;&nbsp; 816679 |
|  | <sup>a</sup> 6.00%, 10/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 2944011 |
|  | Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., |  |  |  |
|  | <sup>a</sup> 7.125%, 2/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 746960 |
|  | <sup>a</sup> 6.25%, 3/15/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 800000 | &nbsp;&nbsp; 805629 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5474428 |
|  | **Financial Services 0.8%** |  |  |  |
|  | AerCap Ireland Capital DAC/AerCap Global Aviation Trust, |  |  |  |
|  | 5.75%, 6/06/28 | &nbsp;&nbsp;Ireland | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 517431 |
|  | 4.95%, 9/10/34 | &nbsp;&nbsp;Ireland | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 734049 |
|  | Capital One Financial Corp., |  |  |  |
|  | 3.75%, 7/28/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 594274 |
|  | 4.927% to 5/10/27, FRN thereafter, 5/10/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 765000 | &nbsp;&nbsp; 770896 |
|  | 5.817% to 2/01/33, FRN thereafter, 2/01/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1032029 |
|  | Charles Schwab Corp., |  |  |  |
|  | 5.853% to 5/19/33, FRN thereafter, 5/19/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 490000 | &nbsp;&nbsp; 520715 |
|  | 6.196% to 11/17/28, FRN thereafter, 11/17/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 530690 |
| <sup>a</sup> | Macquarie Airfinance Holdings Ltd., 6.40%, 3/26/29 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;522360 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5222444 |
|  | **Food 0.3%** |  |  |  |
|  | JBS USA Holding Lux SARL/JBS USA Food Co./JBS Lux Co. SARL, 5.75%, 4/01/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545129 |
|  | Pilgrim's Pride Corp., 6.25%, 7/01/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1058530 |
| <sup>a</sup> | Post Holdings, Inc., 6.25%, 2/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720254 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2323913 |
|  | **Gas 0.3%** |  |  |  |
| <sup>a</sup> | Venture Global Plaquemines LNG LLC, 7.75%, 5/01/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2166584 |
|  | **Hand/Machine Tools 0.1%** |  |  |  |
|  | Regal Rexnord Corp., 6.40%, 4/15/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;528190 |
|  | **Health Care Providers & Services 4.2%** |  |  |  |
|  | Centene Corp., 2.50%, 3/01/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2030000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1749153 |
| <sup>a</sup> | CHS/Community Health Systems, Inc., 10.875%, 1/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp;10611170 |
|  | DaVita, Inc., |  |  |  |
|  | <sup>a</sup> 4.625%, 6/01/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1520000 | &nbsp;&nbsp; 1457371 |
|  | <sup>a</sup> 6.875%, 9/01/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 518403 |
|  | <sup>a</sup> 6.75%, 7/15/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1033222 |
| <sup>a</sup> | Fresenius Medical Care U.S. Finance III, Inc., 2.375%, 2/16/31 | &nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;645000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;558174 |
|  | HCA, Inc., 5.625%, 9/01/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2935000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3022268 |
|  | Tenet Healthcare Corp., |  |  |  |
|  | 6.125%, 10/01/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3375000 | &nbsp;&nbsp; 3381837 |
|  | 6.125%, 6/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3565220 |
|  | 6.75%, 5/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2588072 |
|  | UnitedHealth Group, Inc., 5.35%, 2/15/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;515332 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;29000222 |
|  | **Healthcare-Products 0.3%** |  |  |  |
|  | GE HealthCare Technologies, Inc., 5.905%, 11/22/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;505160 |
| <sup>a</sup> | Medline Borrower LP, 3.875%, 4/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1135000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1089528 |
| <sup>a</sup> | Medline Borrower LP/Medline Co-Issuer, Inc., 6.25%, 4/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;462840 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2057528 |
|  | **Housewares 0.1%** |  |  |  |
| <sup>a</sup> | Newell Brands, Inc., 8.50%, 6/01/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;789533 |
|  | **Insurance 0.2%** |  |  |  |
|  | Brown & Brown, Inc., 2.375%, 3/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;541777 |
| <sup>a</sup> | Five Corners Funding Trust III, 5.791%, 2/15/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;490000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;509965 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1051742 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Internet 0.2%** |  |  |  |
|  | Expedia Group, Inc., 3.80%, 2/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 525000 | &nbsp;&nbsp; 517376 |
|  | Netflix, Inc., 5.875%, 11/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 945000 | &nbsp;&nbsp; 996400 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1513776 |
|  | **Iron/Steel 0.4%** |  |  |  |
|  | ArcelorMittal SA, 6.80%, 11/29/32 | &nbsp;&nbsp;Luxembourg | &nbsp;&nbsp; 485000 | &nbsp;&nbsp; 533385 |
|  | Cleveland-Cliffs, Inc., |  |  |  |
|  | <sup>a</sup> 6.75%, 4/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 968214 |
|  | <sup>a</sup> 7.00%, 3/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 943911 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2445510 |
|  | **IT Services 0.5%** |  |  |  |
|  | Dell International LLC/EMC Corp., 5.75%, 2/01/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;315331 |
|  | Hewlett Packard Enterprise Co., 5.00%, 10/15/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;727852 |
|  | HP, Inc., 5.50%, 1/15/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;765889 |
| <sup>a</sup> | McAfee Corp., 7.375%, 2/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1890727 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3699799 |
|  | **Leisure Time 0.4%** |  |  |  |
| <sup>a</sup> | Carnival Corp., 6.125%, 2/15/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2047554 |
| <sup>a</sup> | NCL Corp. Ltd., 6.75%, 2/01/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306676 |
| <sup>a</sup> | Royal Caribbean Cruises Ltd., 6.25%, 3/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;617103 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2971333 |
|  | **Lodging 0.3%** |  |  |  |
| <sup>a</sup> | Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp., 5.25%, 5/15/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;776107 |
| <sup>a</sup> | Wynn Macau Ltd., 5.50%, 1/15/26 | &nbsp;&nbsp;Macau | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;980000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;981040 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1757147 |
|  | **Media 1.0%** |  |  |  |
|  | CCO Holdings LLC/CCO Holdings Capital Corp., |  |  |  |
|  | <sup>a</sup> 5.00%, 2/01/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1350000 | &nbsp;&nbsp; 1338484 |
|  | <sup>a</sup> 4.75%, 3/01/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp; 1163457 |
|  | <sup>a</sup> 5.375%, 6/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp; 1246298 |
|  | <sup>a</sup> 5.125%, 5/01/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1994936 |
|  | Charter Communications Operating LLC/Charter Communications Operating Capital, 4.908%, 7/23/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;599966 |
| <sup>a</sup> | Univision Communications, Inc., senior note, 6.625%, 6/01/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;519060 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6862201 |
|  | **Mining 0.5%** |  |  |  |
| <sup>a</sup> | Alcoa Nederland Holding BV, 4.125%, 3/31/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;786982 |
|  | FMG Resources August 2006 Pty. Ltd., |  |  |  |
|  | <sup>a</sup> 4.375%, 4/01/31 | &nbsp;&nbsp;Australia | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 935121 |
|  | <sup>a</sup> 6.125%, 4/15/32 | &nbsp;&nbsp;Australia | &nbsp;&nbsp; 770000 | &nbsp;&nbsp; 783765 |
|  | Freeport-McMoRan, Inc., 5.40%, 11/14/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;787604 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3293472 |
|  | **Oil & Gas 0.8%** |  |  |  |
|  | Calumet Specialty Products Partners LP/Calumet Finance Corp., |  |  |  |
|  | <sup>a</sup> 8.125%, 1/15/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2625000 | &nbsp;&nbsp; 2611319 |
|  | <sup>a</sup> 9.25%, 7/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 309000 |
|  | <sup>a</sup> 9.75%, 7/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 498858 |
| <sup>a</sup> | Hilcorp Energy I LP/Hilcorp Finance Co., 7.25%, 2/15/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;489391 |
| <sup>a</sup> | Matador Resources Co., 6.50%, 4/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450531 |
|  | Occidental Petroleum Corp., 6.625%, 9/01/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1058050 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5417149 |
|  | **Oil & Gas Services 0.3%** |  |  |  |
| <sup>a</sup> | Weatherford International Ltd., 8.625%, 4/30/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2040000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2104030 |
|  | **Packaging & Containers 1.4%** |  |  |  |
| <sup>a</sup> | Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC, 4.00%, 9/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1050890 |
| <sup>a</sup> | Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc., senior note, 5.25%, 8/15/27 | &nbsp;&nbsp;Luxembourg | &nbsp;&nbsp;&nbsp;&nbsp;3135000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1400514 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| <sup>a</sup> | Clydesdale Acquisition Holdings, Inc., 6.75%, 4/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1540341 |
|  | Mauser Packaging Solutions Holding Co., |  |  |  |
|  | <sup>a</sup> 9.25%, 4/15/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 2981170 |
|  | <sup>a</sup> 7.875%, 4/15/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2544105 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9517020 |
|  | **Personal Care Products 0.3%** |  |  |  |
| <sup>a</sup> | Opal Bidco SAS, 6.50%, 3/31/32 | &nbsp;&nbsp;France | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2042526 |
|  | **Pharmaceuticals 0.4%** |  |  |  |
|  | AbbVie, Inc., 4.55%, 3/15/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 520000 | &nbsp;&nbsp; 505063 |
|  | CVS Health Corp., 5.25%, 2/21/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1007066 |
| <sup>a</sup> | Endo Finance Holdings, Inc., 8.50%, 4/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;529904 |
|  | Teva Pharmaceutical Finance Netherlands III BV, 6.75%, 3/01/28 | &nbsp;&nbsp;Israel | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;623495 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2665528 |
|  | **Pipelines 1.5%** |  |  |  |
|  | Cheniere Corpus Christi Holdings LLC, 3.70%, 11/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;771989 |
|  | Kinder Morgan, Inc., |  |  |  |
|  | 5.20%, 6/01/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 515000 | &nbsp;&nbsp; 517705 |
|  | 5.40%, 2/01/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 775000 | &nbsp;&nbsp; 785222 |
|  | Venture Global LNG, Inc., |  |  |  |
|  | <sup>a</sup> 8.125%, 6/01/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3619592 |
|  | <sup>a</sup> 9.00% to 9/30/29, FRN thereafter, 12/31/99 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 2919446 |
|  | Williams Cos., Inc., 3.50%, 11/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1513265 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;10127219 |
|  | **Real Estate Management & Development 0.4%** |  |  |  |
|  | American Tower Corp., 5.55%, 7/15/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1290001 |
|  | Crown Castle, Inc., 5.10%, 5/01/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;298938 |
|  | Healthpeak OP LLC, 5.25%, 12/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;509093 |
|  | VICI Properties LP, 5.125%, 5/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;797553 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2895585 |
|  | **Retail 0.5%** |  |  |  |
| <sup>a</sup> | Bausch & Lomb Corp., 8.375%, 10/01/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705375 |
|  | Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc., |  |  |  |
|  | <sup>a</sup> 4.625%, 1/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1315000 | &nbsp;&nbsp; 1260351 |
|  | <sup>a</sup> 6.75%, 1/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 800000 | &nbsp;&nbsp; 738885 |
|  | Lowe's Cos., Inc., 5.00%, 4/15/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1011403 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3716014 |
|  | **Semiconductors 0.3%** |  |  |  |
| <sup>a</sup> | Broadcom, Inc., 3.469%, 4/15/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1315000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1175171 |
|  | Micron Technology, Inc., 5.327%, 2/06/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358381 |
|  | NXP BV/NXP Funding LLC, 5.55%, 12/01/28 | &nbsp;&nbsp;China | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516531 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2050083 |
|  | **Software 0.4%** |  |  |  |
| <sup>a</sup> | Cloud Software Group, Inc., 6.50%, 3/31/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;908962 |
|  | Fiserv, Inc., 5.60%, 3/02/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;414938 |
|  | Oracle Corp., |  |  |  |
|  | 2.875%, 3/25/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 650000 | &nbsp;&nbsp; 593072 |
|  | 6.25%, 11/09/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 720000 | &nbsp;&nbsp; 779410 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2696382 |
|  | **Telecommunications 1.1%** |  |  |  |
|  | CommScope LLC, |  |  |  |
|  | <sup>a</sup> 8.25%, 3/01/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1600000 | &nbsp;&nbsp; 1595067 |
|  | <sup>a</sup> 9.50%, 12/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4100000 | &nbsp;&nbsp; 4296585 |
|  | Sprint LLC, 7.625%, 3/01/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;474547 |
|  | T-Mobile USA, Inc., 5.05%, 7/15/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;906475 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7272674 |
|  | **Total Corporate Bonds & Notes (Cost $199,905,704)** |  |  | &nbsp;&nbsp;203819393 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **U.S. Government & Agency Securities 12.7%** |  |  |  |
|  | Federal Home Loan Mortgage Corp., |  |  |  |
|  | 5.00%, 5/01/53 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 955399 | &nbsp;&nbsp; 938896 |
|  | 5.00%, 11/01/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4454170 | &nbsp;&nbsp; 4369293 |
|  | 5.50%, 7/01/53 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 457897 | &nbsp;&nbsp; 459085 |
|  | 5.50%, 11/01/53 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 460160 | &nbsp;&nbsp; 461345 |
|  | 5.50%, 11/01/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1872387 | &nbsp;&nbsp; 1873763 |
|  | 5.50%, 1/01/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1943603 | &nbsp;&nbsp; 1944576 |
|  | 5.50%, 2/01/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1222838 | &nbsp;&nbsp; 1223450 |
|  | 5.50%, 5/01/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4935339 | &nbsp;&nbsp; 4937810 |
|  | 6.00%, 1/01/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2320939 | &nbsp;&nbsp; 2360218 |
|  | 6.00%, 2/01/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2517848 | &nbsp;&nbsp; 2560289 |
|  | Federal National Mortgage Association, |  |  |  |
|  | 5.00%, 5/01/53 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 942917 | &nbsp;&nbsp; 927368 |
|  | 5.00%, 11/01/53 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1428518 | &nbsp;&nbsp; 1403842 |
|  | 5.50%, 11/01/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1890888 | &nbsp;&nbsp; 1892278 |
|  | Government National Mortgage Association, |  |  |  |
|  | 5.50%, 3/20/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3228332 | &nbsp;&nbsp; 3235547 |
|  | 5.50%, 5/20/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1795946 | &nbsp;&nbsp; 1799960 |
|  | 5.50%, 6/20/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1350000 | &nbsp;&nbsp; 1353017 |
|  | 6.00%, 1/20/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2438125 | &nbsp;&nbsp; 2476396 |
|  | 6.00%, 3/20/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4088986 | &nbsp;&nbsp; 4153171 |
|  | 6.00%, 5/20/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 872645 | &nbsp;&nbsp; 886542 |
|  | 6.00%, 6/20/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp; 1320703 |
|  | U.S. Treasury Bonds, |  |  |  |
|  | 4.50%, 11/15/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1906562 |
|  | 4.625%, 2/15/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp;11000000 | &nbsp;&nbsp; 10711250 |
|  | 4.75%, 2/15/45 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 6965000 |
|  | U.S. Treasury Notes, |  |  |  |
|  | 4.00%, 2/15/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 3959531 |
|  | 4.25%, 1/31/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 7139727 |
|  | 4.25%, 11/15/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4014375 |
|  | 4.25%, 5/15/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp;10000000 | &nbsp;&nbsp; 10016406 |
|  | 4.625%, 4/30/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2578711 |
|  | **Total U.S. Government & Agency Securities (Cost $87,188,405)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;87869111 |
| <sup>c</sup> | **Senior Floating Rate Interests 0.3%** |  |  |  |
|  | **Computers & Peripherals 0.3%** |  |  |  |
|  | Twitter, Inc., Term Loan, 1 mo. USD Term SOFR + 6.50%, 10.927%, 10/26/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1989796 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1946428 |
|  | **Health Care Providers & Services 0.0%<sup>†</sup>** |  |  |  |
|  | MPH Acquisition Holdings LLC, 2025 Exchange 1st Out Term Loan, 3 mo. USD Term SOFR + 3.75%, 8.03%, 12/31/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163135 |
|  | **Total Floating Rate Loans (Cost $2,098,570)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2109563 |
|  |  |  | &nbsp;&nbsp;**Shares** |  |
|  | **Common Stocks 35.4%** |  |  |  |
|  | **Aerospace & Defense 1.7%** |  |  |  |
|  | Lockheed Martin Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7124483 |
|  | RTX Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4717176 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;11841659 |
|  | **Banks 3.3%** |  |  |  |
|  | Bank of America Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3776846 |
|  | JPMorgan Chase & Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43519 | &nbsp;&nbsp;&nbsp;&nbsp;12616593 |
|  | Truist Financial Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4175318 |
|  | U.S. Bancorp | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2298338 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;22867095 |
|  | **Beverages 2.1%** |  |  |  |
|  | Coca-Cola Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81859 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5791524 |
|  | PepsiCo, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8511431 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;14302955 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Biotechnology 1.0%** |  |  |  |
| AbbVie, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 36855 | &nbsp;&nbsp; 6841025 |
| **Building Products 1.0%** |  |  |  |
| Johnson Controls International PLC | &nbsp;&nbsp;United States | &nbsp;&nbsp; 62392 | &nbsp;&nbsp; 6589843 |
| **Capital Markets 0.4%** |  |  |  |
| Morgan Stanley | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20485 | &nbsp;&nbsp; 2885517 |
| **Chemicals 0.7%** |  |  |  |
| Air Products & Chemicals, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 17536 | &nbsp;&nbsp; 4946204 |
| **Communications Equipment 0.6%** |  |  |  |
| Cisco Systems, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4292887 |
| **Computers & Peripherals 0.5%** |  |  |  |
| Hewlett Packard Enterprise Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3721798 |
| **Diversified Telecommunication Services 1.1%** |  |  |  |
| Verizon Communications, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7175854 |
| **Electric Utilities 3.0%** |  |  |  |
| Duke Energy Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8201472 |
| Edison International | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1219411 |
| NextEra Energy, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47183 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3275444 |
| Southern Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5827807 |
| Xcel Energy, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2022570 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;20546704 |
| **Food Products 0.7%** |  |  |  |
| Mondelez International, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2935124 |
| Nestle SA, ADR | &nbsp;&nbsp;Switzerland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2042019 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4977143 |
| **Ground Transportation 0.9%** |  |  |  |
| Union Pacific Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6283715 |
| **Health Care Equipment & Supplies 0.5%** |  |  |  |
| Medtronic PLC | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3658874 |
| **Household Products 1.0%** |  |  |  |
| Procter & Gamble Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42523 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6774764 |
| **Industrial Conglomerates 1.3%** |  |  |  |
| Honeywell International, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5852507 |
| Siemens AG | &nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3183226 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9035733 |
| **IT Services 1.0%** |  |  |  |
| Accenture PLC, Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3034331 |
| International Business Machines Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3950642 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6984973 |
| **Machinery 0.6%** |  |  |  |
| Illinois Tool Works, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15452 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3820507 |
| **Metals & Mining 0.7%** |  |  |  |
| Rio Tinto PLC, ADR | &nbsp;&nbsp;Australia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5016380 |
| **Multi-Utilities 1.3%** |  |  |  |
| Dominion Energy, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3647575 |
| DTE Energy Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3735637 |
| Sempra | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1665727 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9048939 |
| **Oil, Gas & Consumable Fuels 4.8%** |  |  |  |
| Chevron Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97703 | &nbsp;&nbsp;&nbsp;&nbsp;13990092 |
| ConocoPhillips | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2256243 |
| Exxon Mobil Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101915 | &nbsp;&nbsp;&nbsp;&nbsp;10986437 |
| Shell PLC, ADR | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5756722 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;32989494 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Pharmaceuticals 4.7%** |  |  |  |
|  | AstraZeneca PLC, ADR | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp; 91262 | &nbsp;&nbsp; 6377388 |
|  | Johnson & Johnson | &nbsp;&nbsp;United States | &nbsp;&nbsp; 94052 | &nbsp;&nbsp; 14366443 |
|  | Merck & Co., Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 80148 | &nbsp;&nbsp; 6344516 |
|  | Roche Holding AG, ADR | &nbsp;&nbsp;Switzerland | &nbsp;&nbsp; 132478 | &nbsp;&nbsp; 5399803 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;32488150 |
|  | **Semiconductors & Semiconductor Equipment 0.7%** |  |  |  |
|  | Analog Devices, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 9798 | &nbsp;&nbsp; 2332120 |
|  | Texas Instruments, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10738 | &nbsp;&nbsp; 2229424 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4561544 |
|  | **Specialty Retail 0.5%** |  |  |  |
|  | Lowe's Cos., Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3481140 |
|  | **Tobacco 1.3%** |  |  |  |
|  | Philip Morris International, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9127081 |
|  | **Total Common Stocks (Cost $229,022,458)** |  |  | &nbsp;&nbsp;244259978 |
|  | **Preferred Stocks 2.2%** |  |  |  |
|  | **Aerospace & Defense 0.6%** |  |  |  |
|  | Boeing Co., 6.00%, pfd. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4368048 |
|  | **Capital Markets 0.1%** |  |  |  |
|  | ARES Management Corp., 6.75%, pfd. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;681050 |
|  | **Chemicals 0.6%** |  |  |  |
|  | Albemarle Corp., 7.25%, pfd. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3781637 |
|  | **Electric Utilities 0.9%** |  |  |  |
|  | NextEra Energy, Inc., 7.299%, pfd. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3136194 |
|  | NextEra Energy, Inc., 7.234%, pfd. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3100642 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6236836 |
|  | **Total Preferred Stocks (Cost $15,099,112)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;15067571 |
|  |  |  | &nbsp;&nbsp;**Principal Amount\*** |  |
|  | **Convertible Bond 0.1%** |  |  |  |
|  | **Electric 0.1%** |  |  |  |
|  | Southern Co., 3.25%, 6/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705250 |
|  | **Total Convertible Bonds (Cost $700,000)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;705250 |
|  |  |  | &nbsp;&nbsp;**Shares** |  |
| <sup>d</sup> | **Equity-Linked Securities 15.7%** |  |  |  |
|  | **Other 15.7%** |  |  |  |
| <sup>a</sup> | Barclays Bank PLC into Amazon.com Inc., 10.00%, 3/25/26 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2115023 |
| <sup>a</sup> | Barclays Bank PLC into Home Depot (HD), 7.00%, 2/25/26 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3773950 |
| <sup>a</sup> | BNP Paribas Issuance BV into Freeport-McMoran Inc., 10.00%, 8/12/25 | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2425105 |
| <sup>a</sup> | BNP Paribas Issuance BV into Target Corp., 9.00%, 7/10/25 | &nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;851253 |
| <sup>a</sup> | BNP Paribas SA into Applied Materials Inc., 10.00%, 12/10/25 | &nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1233148 |
| <sup>a</sup> | BNP Paribas SA into Texas Instruments Inc., 9.00%, 7/1/26 | &nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5110983 |
| <sup>a</sup> | Citigroup Global Markets Holdings, Inc. into Freeport-McMoRan Inc., 12.00%, 6/9/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2066517 |
| <sup>a</sup> | Citigroup Global Markets Holdings, Inc. into Merck & Co., 9.50%, 8/28/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4805244 |
| <sup>a</sup> | Citigroup Global Markets Holdings, Inc. into Newmont Corp., 9.50%, 2/18/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1927329 |
| <sup>a</sup> | Citigroup Global Markets Holdings, Inc. into The Boeing Co., 8.50%, 12/8/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1649737 |
| <sup>a</sup> | Citigroup Global Markets Holdings, Inc. into The Home Depot Inc., 7.50%, 7/21/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1369315 |
| <sup>a</sup> | Citigroup Global Markets Holdings, Inc. into UnitedHealth Group Inc., 9.00%, 1/27/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1161652 |
| <sup>a</sup> | JPMorgan Chase Bank NA into Analog Devices Inc., 9.00%, 2/19/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3788743 |
| <sup>a</sup> | JPMorgan Chase Bank NA into Comcast Corp., 8.50%, 9/2/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1505407 |
| <sup>a</sup> | JPMorgan Chase Bank NA into CVS Health Corp., 9.00%, 11/25/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2610628 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| <sup>a</sup> | JPMorgan Chase Bank NA into Exxon Mobil Corp., 8.50%, 11/3/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 11000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1191454 |
| <sup>a</sup> | JPMorgan Chase Bank NA into The Boeing Co., 10.00%, 1/22/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 11000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2084827 |
| <sup>a</sup> | Merrill Lynch BV into Dell Technologies Inc., 12.00%, 3/9/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2443614 |
| <sup>a</sup> | Merrill Lynch BV into Microsoft Inc., 7.50%, 10/6/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1382689 |
| <sup>a</sup> | Merrill Lynch BV into Microsoft Inc., 6.00%, 2/13/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1150507 |
| <sup>a</sup> | Merrill Lynch BV into Microsoft Inc., 7.00%, 3/9/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2190468 |
| <sup>a</sup> | Merrill Lynch BV into UnitedHealth Group Inc., 10.00%, 7/1/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 11000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3427547 |
| <sup>a</sup> | Mizuho Markets Cayman LP into Amgen Inc., 10.00%, 6/15/26 | &nbsp;&nbsp;Japan | &nbsp;&nbsp; 14000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3923092 |
| <sup>a</sup> | Mizuho Markets Cayman LP into Microchip Technology Inc., 10.00%, 4/15/26 | &nbsp;&nbsp;Japan | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3136845 |
| <sup>a</sup> | Mizuho Markets Cayman LP into S&P 500 Index, 8.00%, 9/23/25 | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6121672 |
| <sup>a</sup> | Mizuho Markets Cayman LP into U.S. Bancorp, 9.00%, 2/25/26 | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4156666 |
| <sup>a</sup> | Royal Bank of Canada into Cisco Systems Inc., 8.00%, 9/17/25 | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1639501 |
| <sup>a</sup> | Royal Bank of Canada into Citigroup Inc., 8.50%, 8/27/25 | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2736723 |
| <sup>a</sup> | Royal Bank of Canada into Morgan Stanley, 8.50%, 11/26/25 | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2570433 |
| <sup>a</sup> | Royal Bank of Canada into Nike Inc., Class B, 10.00%, 12/24/25 | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1816641 |
| <sup>a</sup> | Royal Bank of Canada into Oracle Corp., 10.00%, 5/13/26 | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2357730 |
| <sup>a</sup> | Toronto-Dominion Bank into Starbucks Corp., 9.00%, 1/12/26 | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3163779 |
| <sup>a</sup> | UBS AG into Accenture PLC, Class A, 8.00%, 7/13/26 | &nbsp;&nbsp;Switzerland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2247753 |
| <sup>a</sup> | UBS AG into Bank of America Corp., 8.00%, 1/28/26 | &nbsp;&nbsp;Switzerland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2833205 |
| <sup>a</sup> | UBS AG into S&P 500 Index, 8.00%, 12/23/25 | &nbsp;&nbsp;Switzerland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5676914 |
| <sup>a</sup> | UBS AG into S&P 500 Index, 9.00%, 11/25/25 | &nbsp;&nbsp;Switzerland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6108842 |
| <sup>a</sup> | Wells Fargo Bank NA into Citigroup Inc., 8.50%, 2/25/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2541121 |
| <sup>a</sup> | Wells Fargo Bank NA into Salesforce.com, inc., 9.00%, 6/15/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2260992 |
| <sup>a</sup> | Wells Fargo Bank NA into Schlumberger N.V., 10.00%, 11/26/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1295217 |
| <sup>a</sup> | Wells Fargo Bank NA into Target Corp., 10.00%, 5/13/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3256828 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108109094 |
|  | **Total Equity-Linked Securities (Cost $106,057,920)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108109094 |
|  | **Total Investments before Short-Term Investments (Cost $640,072,169)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;661939960 |
|  | **Short-Term Investments 2.6%** |  |  |  |
|  | **Money Market Funds 2.6%** |  |  |  |
| <sup>e,f</sup> | Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;United States | &nbsp;&nbsp;18202214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18202214 |
|  | **Total Short-Term Investments (Cost $18,202,214)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18202214 |
|  | **Total Investments (Cost $658,274,383) 98.6%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;680142174 |
|  | **Other Assets, less Liabilities 1.4%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9511509 |
|  | **Net Assets 100.0%** |  |  | &nbsp;&nbsp;$689653683 |

---

---

| |
|:---|
| <sup>†</sup>Rounds to less than 0.1% of net assets. |
| \*The principal amount is stated in U.S. dollars unless otherwise indicated. |
| <sup>a</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional buyers or in a public offering registered under the Securities Act of 1933. At June 30, 2025, the aggregate value of these securities was $230,342,154, representing 33.4% of net assets. |
| <sup>b</sup>Security purchased on a when-issued basis. |
| <sup>c</sup>Variable rate security. The rate shown represents the yield at period end. |
| <sup>d</sup>The country reference within the SOI disclosure is for the underlying bank vs. the underlying equity position. |
| <sup>e</sup>The rate shown is the annualized seven-day effective yield at period end. |
| <sup>f</sup>See Note 3 regarding investments in affiliated management investment companies. |

---

#### Abbreviations

---

| | |
|:---|:---|
| **Selected Portfolio** |  |
| **ADR** | American Depositary Receipt |
| **FRN** | Floating Rate Note |
| **SOFR** | Secured Overnight Financing Rate |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Franklin International Aggregate Bond ETF** | &nbsp;&nbsp;**Principal Amount\*** | &nbsp;&nbsp;**Principal Amount\*** | &nbsp;&nbsp;**Value** |
|  | **Foreign Government and Agency Securities 92.7%** |  |  |  |
|  | **Australia 2.7%** |  |  |  |
| <sup>a</sup> | Australia Government Bonds, Series 149, 2.25%, 5/21/28 | &nbsp;&nbsp;9000000 | &nbsp;&nbsp;&nbsp;AUD | &nbsp;&nbsp;$5761289 |
| <sup>a</sup> | New South Wales Treasury Corp., Series 27, 3.00%, 5/20/27 | &nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2615621 |
| <sup>a</sup> | Queensland Treasury Corp., 3.25%, 8/21/29 | &nbsp;&nbsp;7500000 | &nbsp;&nbsp;&nbsp;AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4852311 |
| <sup>a</sup> | Western Australian Treasury Corp., Series 26, 3.00%, 10/21/26 | &nbsp;&nbsp;8000000 | &nbsp;&nbsp;&nbsp;AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5247405 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18476626 |
|  | **Austria 4.5%** |  |  |  |
|  | Republic of Austria Government Bonds, |  |  |  |
|  | <sup>a</sup> 1.20%, 10/20/25 | &nbsp;&nbsp; 16000000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp; 18806920 |
|  | <sup>a</sup> 1.50%, 2/20/47 | &nbsp;&nbsp; 15000000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp; 12388379 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31195299 |
|  | **Belgium 4.4%** |  |  |  |
| <sup>a</sup> | Kingdom of Belgium Government Bonds, Series 75, 1.00%, 6/22/31 | &nbsp;&nbsp;28000000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30086431 |
|  | **Canada 3.8%** |  |  |  |
|  | Canada Government Bonds, |  |  |  |
|  | 1.25%, 6/01/30 | &nbsp;&nbsp; 14000000 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;&nbsp;&nbsp; 9527196 |
|  | 5.00%, 6/01/37 | &nbsp;&nbsp; 16000000 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;&nbsp;&nbsp; 13627171 |
|  | 2.00%, 12/01/51 | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp;CAD | &nbsp;&nbsp;&nbsp;&nbsp; 3222530 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26376897 |
|  | **China 16.0%** |  |  |  |
|  | Agricultural Development Bank of China, Series 2008, 3.45%, 9/23/25 | &nbsp;&nbsp;13000000 | &nbsp;&nbsp;CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1824966 |
|  | China Development Bank, Series 2004, 3.43%, 1/14/27 | &nbsp;&nbsp;25000000 | &nbsp;&nbsp;CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3592122 |
|  | China Government Bonds, |  |  |  |
|  | 3.03%, 3/11/26 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp;CNY | &nbsp;&nbsp;&nbsp;&nbsp; 14147095 |
|  | 2.85%, 6/04/27 | &nbsp;&nbsp; 120000000 | &nbsp;&nbsp;CNY | &nbsp;&nbsp;&nbsp;&nbsp; 17246410 |
|  | 2.67%, 5/25/33 | &nbsp;&nbsp; 120000000 | &nbsp;&nbsp;CNY | &nbsp;&nbsp;&nbsp;&nbsp; 18003855 |
|  | 2.52%, 8/25/33 | &nbsp;&nbsp; 120000000 | &nbsp;&nbsp;CNY | &nbsp;&nbsp;&nbsp;&nbsp; 17833650 |
|  | 2.35%, 2/25/34 | &nbsp;&nbsp; 120000000 | &nbsp;&nbsp;CNY | &nbsp;&nbsp;&nbsp;&nbsp; 17650943 |
|  | Series INBK, 4.28%, 10/23/47 | &nbsp;&nbsp; 100000000 | &nbsp;&nbsp;CNY | &nbsp;&nbsp;&nbsp;&nbsp; 19965000 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;110264041 |
|  | **Cyprus 1.0%** |  |  |  |
| <sup>a</sup> | Cyprus Government International Bonds, 1.50%, 4/16/27 | &nbsp;&nbsp;6000000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7005168 |
|  | **Finland 1.8%** |  |  |  |
| <sup>a</sup> | Finland Government Bonds, 2.75%, 7/04/28 | &nbsp;&nbsp;10000000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12006138 |
|  | **France 4.3%** |  |  |  |
|  | French Republic Government Bonds OAT, |  |  |  |
|  | <sup>a,b</sup> 2.417%, 11/25/29 | &nbsp;&nbsp; 22000000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp; 23296517 |
|  | <sup>a</sup> 0.75%, 5/25/52 | &nbsp;&nbsp; 11000000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp; 6157627 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29454144 |
|  | **Ireland 1.6%** |  |  |  |
| <sup>a</sup> | Ireland Government Bonds, 1.35%, 3/18/31 | &nbsp;&nbsp;10000000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11114695 |
|  | **Italy 4.2%** |  |  |  |
|  | Italy Buoni Poliennali Del Tesoro, |  |  |  |
|  | <sup>a</sup> Series 10Y, 1.25%, 12/01/26 | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp; 11676218 |
|  | <sup>a</sup> 2.45%, 9/01/50 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp; 17448936 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29125154 |
|  | **Japan 17.2%** |  |  |  |
|  | Development Bank of Japan, Inc., 2.30%, 3/19/26 | &nbsp;&nbsp;1200000000 | &nbsp;&nbsp;&nbsp;JPY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8431846 |
|  | Japan Government Five Year Bonds, Series 161, 0.30%, 6/20/28 | &nbsp;&nbsp;4000000000 | &nbsp;&nbsp;&nbsp;JPY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27382556 |
|  | Japan Government Ten Year Bonds, Series 345, 0.10%, 12/20/26 | &nbsp;&nbsp;4000000000 | &nbsp;&nbsp;&nbsp;JPY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27559947 |
|  | Japan Government Thirty Year Bonds, Series 65, 0.40%, 12/20/49 | &nbsp;&nbsp;2750000000 | &nbsp;&nbsp;&nbsp;JPY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11574811 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Japan Government Twenty Year Bonds, |  |  |  |
|  | 1.50%, 3/20/33 | &nbsp;&nbsp;4000000000 | &nbsp;&nbsp;&nbsp;&nbsp;JPY | &nbsp;&nbsp; 28393148 |
|  | Series 179, 0.50%, 12/20/41 | &nbsp;&nbsp;2750000000 | &nbsp;&nbsp;&nbsp;&nbsp;JPY | &nbsp;&nbsp; 14749520 |
|  |  |  |  | &nbsp;&nbsp;118091828 |
|  | **Mexico 1.0%** |  |  |  |
| <sup>c</sup> | Mexico Bonos, Series M, 8.00%, 11/07/47 | &nbsp;&nbsp;150000000 | &nbsp;&nbsp;&nbsp;MXN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6640981 |
|  | **Netherlands 2.4%** |  |  |  |
| <sup>a</sup> | Netherlands Government Bonds, 0.50%, 1/15/40 | &nbsp;&nbsp;20000000 | &nbsp;&nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;16626020 |
|  | **Poland 1.9%** |  |  |  |
|  | Republic of Poland Government Bonds, Series 1029, 2.75%, 10/25/29 | &nbsp;&nbsp;50000000 | &nbsp;&nbsp;&nbsp;&nbsp;PLN | &nbsp;&nbsp;&nbsp;&nbsp;12807665 |
|  | **Romania 1.1%** |  |  |  |
| <sup>a</sup> | Romania Government International Bonds, 2.00%, 1/28/32 | &nbsp;&nbsp;7500000 | &nbsp;&nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7185352 |
|  | **South Korea 2.9%** |  |  |  |
|  | Korea Treasury Bonds, |  |  |  |
|  | Series 2703, 5.25%, 3/10/27 | &nbsp;&nbsp;8500000000 | &nbsp;&nbsp;KRW | &nbsp;&nbsp; 6589937 |
|  | Series 3012, 4.75%, 12/10/30 | &nbsp;&nbsp;8000000000 | &nbsp;&nbsp;KRW | &nbsp;&nbsp; 6550394 |
|  | Series 3212, 4.25%, 12/10/32 | &nbsp;&nbsp;8200000000 | &nbsp;&nbsp;KRW | &nbsp;&nbsp; 6686393 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;19826724 |
|  | **Spain 4.3%** |  |  |  |
| <sup>a</sup> | Spain Government Bonds, 1.25%, 10/31/30 | &nbsp;&nbsp;27000000 | &nbsp;&nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;29757242 |
|  | **Supranational 5.2%** |  |  |  |
|  | European Union, |  |  |  |
|  | <sup>a</sup> 2.75%, 2/04/33 | &nbsp;&nbsp; 20000000 | &nbsp;&nbsp;&nbsp;EUR | &nbsp;&nbsp; 23504645 |
|  | <sup>a</sup> 0.30%, 11/04/50 | &nbsp;&nbsp; 22000000 | &nbsp;&nbsp;&nbsp;EUR | &nbsp;&nbsp; 11877613 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;35382258 |
|  | **Sweden 3.3%** |  |  |  |
| <sup>a</sup> | Sweden Government Bonds, Series 1060, 0.75%, 5/12/28 | &nbsp;&nbsp;220000000 | &nbsp;&nbsp;&nbsp;&nbsp;SEK | &nbsp;&nbsp;&nbsp;&nbsp;22658309 |
|  | **United Kingdom 9.1%** |  |  |  |
|  | U.K. Gilts, |  |  |  |
|  | <sup>a</sup> 4.75%, 12/07/30 | &nbsp;&nbsp; 17000000 | &nbsp;&nbsp;&nbsp;GBP | &nbsp;&nbsp; 24309838 |
|  | <sup>a</sup> 0.875%, 7/31/33 | &nbsp;&nbsp; 17000000 | &nbsp;&nbsp;&nbsp;GBP | &nbsp;&nbsp; 17922406 |
|  | <sup>a</sup> 3.75%, 1/29/38 | &nbsp;&nbsp; 16500000 | &nbsp;&nbsp;&nbsp;GBP | &nbsp;&nbsp; 20546919 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;62779163 |
|  | **Total Foreign Government and Agency Securities (Cost $610,757,197)** |  |  | &nbsp;&nbsp;636860135 |
|  | **Corporate Bonds & Notes 2.1%** |  |  |  |
|  | **France 0.3%** |  |  |  |
| <sup>a</sup> | Orange SA, 1.375%, 3/20/28 | &nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1723568 |
|  | **Germany 0.5%** |  |  |  |
| <sup>a</sup> | Deutsche Telekom AG, 0.875%, 3/25/26 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;583929 |
|  | Kreditanstalt fuer Wiederaufbau, 2.05%, 2/16/26 | &nbsp;&nbsp;300000000 | &nbsp;&nbsp;&nbsp;&nbsp;JPY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2104709 |
| <sup>a,b</sup> | Siemens Financieringsmaatschappij NV, 1.079%, 2/20/26 | &nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;813894 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3502532 |
|  | **Supranational 0.6%** |  |  |  |
|  | Asian Development Bank, Series 339-00-1, 2.35%, 6/21/27 | &nbsp;&nbsp;240000000 | &nbsp;&nbsp;&nbsp;&nbsp;JPY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1721931 |
| <sup>a</sup> | European Investment Bank, 1.90%, 1/26/26 | &nbsp;&nbsp;330000000 | &nbsp;&nbsp;&nbsp;&nbsp;JPY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2311486 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4033417 |
|  | **United Kingdom 0.2%** |  |  |  |
| <sup>a</sup> | RELX Finance BV, 0.50%, 3/10/28 | &nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1677509 |
|  | **United States 0.5%** |  |  |  |
|  | Apple, Inc., 1.625%, 11/10/26 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1170054 |
|  | AT&T, Inc., 0.25%, 3/04/26 | &nbsp;&nbsp;1200000 | &nbsp;&nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1395239 |
| <sup>a</sup> | Schlumberger Finance France SAS, 1.00%, 2/18/26 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1168509 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3733802 |
|  | **Total Corporate Bonds & Notes (Cost $16,309,358)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;14670828 |
|  | **Total Investments before Short Term Investments ($627066555)** |  |  | &nbsp;&nbsp;651530963 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Short-Term Investments 3.5%** |  |  |
|  | **U.S. Government & Agency Securities 3.5%** |  |  |
| <sup>b</sup> | Federal Home Loan Bank Discount Notes, 4.158%, 7/01/25 | &nbsp;&nbsp;24000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23997227 |
|  | **Total Short-Term Investments (Cost $24,000,000)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23997227 |
|  | **Total Investments (Cost $651,066,555) 98.3%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675528190 |
|  | **Other Assets, less Liabilities 1.7%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11825445 |
|  | **Net Assets 100.0%** |  | &nbsp;&nbsp;$687353635 |

---

---

| |
|:---|
| \*The principal amount is stated in U.S. dollars unless otherwise indicated. |
| <sup>a</sup>Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption from registration. At June 30, 2025, the aggregate value of these securities was $351,130,894, representing 51.1% of net assets. |
| <sup>b</sup>The rate shown represents the yield at period end. |
| <sup>c</sup>Principal amount is stated in 100 Mexican Peso Units. |

---

At June 30, 2025, the Fund had the following forward exchange contracts outstanding.

#### Forward Exchange Contracts

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Currency** | **Counterparty<sup>a</sup>** | &nbsp;&nbsp;**Type** | &nbsp;&nbsp;**Quantity** | &nbsp;&nbsp;**Contract<br> Amount** | &nbsp;&nbsp;**Settlement<br> Date** | &nbsp;&nbsp;**Unrealized<br> Appreciation** | &nbsp;&nbsp;**Unrealized<br> Depreciation** |
| **OTC Forward Exchange Contracts** | **OTC Forward Exchange Contracts** | **OTC Forward Exchange Contracts** | **OTC Forward Exchange Contracts** | **OTC Forward Exchange Contracts** | **OTC Forward Exchange Contracts** | **OTC Forward Exchange Contracts** | **OTC Forward Exchange Contracts** |
| Australian Dollar | CITI | &nbsp;&nbsp;Sell | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15390000 | &nbsp;&nbsp;$9956576 | &nbsp;&nbsp;8/13/25 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$(180564) |
| Australian Dollar | BNPS | &nbsp;&nbsp;Sell | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7383300 | &nbsp;&nbsp;8/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (125693) |
| Canadian Dollar | CITI | &nbsp;&nbsp;Sell | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24420000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17797653 | &nbsp;&nbsp;8/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (172957) |
| Canadian Dollar | BNPS | &nbsp;&nbsp;Buy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109372 | &nbsp;&nbsp;8/13/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1013 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Canadian Dollar | BNPS | &nbsp;&nbsp;Sell | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8099772 | &nbsp;&nbsp;8/13/25 | &nbsp;&nbsp;&nbsp;&nbsp; 4903 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Chinese Yuan | CITI | &nbsp;&nbsp;Sell | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;862700000 | &nbsp;&nbsp;&nbsp;&nbsp;120475198 | &nbsp;&nbsp;8/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (430329) |
| Chinese Yuan | CITI | &nbsp;&nbsp;Buy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15299239 | &nbsp;&nbsp;8/13/25 | &nbsp;&nbsp;&nbsp;&nbsp; 117021 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Euro | CITI | &nbsp;&nbsp;Sell | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147300000 | &nbsp;&nbsp;&nbsp;&nbsp;168302329 | &nbsp;&nbsp;8/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5691950) |
| Euro | BNPS | &nbsp;&nbsp;Sell | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83036741 | &nbsp;&nbsp;8/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2779174) |
| Euro | BNPS | &nbsp;&nbsp;Sell | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13290310 | &nbsp;&nbsp;8/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (293765) |
| Euro | CITI | &nbsp;&nbsp;Buy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26734423 | &nbsp;&nbsp;8/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;1024339 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Great British Pound | CITI | &nbsp;&nbsp;Sell | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34091588 | &nbsp;&nbsp;8/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (918659) |
| Great British Pound | BNPS | &nbsp;&nbsp;Sell | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20189526 | &nbsp;&nbsp;8/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (542032) |
| Great British Pound | BNPS | &nbsp;&nbsp;Sell | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4059498 | &nbsp;&nbsp;8/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (59354) |
| Japanese Yen | CITI | &nbsp;&nbsp;Sell | &nbsp;&nbsp;&nbsp;&nbsp;8899000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62737451 | &nbsp;&nbsp;8/13/25 | &nbsp;&nbsp;&nbsp;&nbsp; 649898 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Japanese Yen | BNPS | &nbsp;&nbsp;Sell | &nbsp;&nbsp;&nbsp;&nbsp;9630000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67945855 | &nbsp;&nbsp;8/13/25 | &nbsp;&nbsp;&nbsp;&nbsp; 758178 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Mexican Peso | BNPS | &nbsp;&nbsp;Sell | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86288147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4350838 | &nbsp;&nbsp;8/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (227589) |
| Mexican Peso | CITI | &nbsp;&nbsp;Sell | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1264847 | &nbsp;&nbsp;8/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (66953) |
| Polish Zloty | BNPS | &nbsp;&nbsp;Sell | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9631243 | &nbsp;&nbsp;8/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (429732) |
| Polish Zloty | CITI | &nbsp;&nbsp;Sell | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2530606 | &nbsp;&nbsp;8/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (116289) |
| South Korean Won | BNPS | &nbsp;&nbsp;Sell | &nbsp;&nbsp;27600000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19964700 | &nbsp;&nbsp;8/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (539424) |
| Swedish Krona | CITI | &nbsp;&nbsp;Sell | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13946171 | &nbsp;&nbsp;8/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (203056) |
| Swedish Krona | BNPS | &nbsp;&nbsp;Sell | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6260183 | &nbsp;&nbsp;8/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (77823) |
| Swedish Krona | BNPS | &nbsp;&nbsp;Sell | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1895333 | &nbsp;&nbsp;8/13/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (12428) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Forward Exchange Contracts | &nbsp;&nbsp;&nbsp;&nbsp;Total Forward Exchange Contracts | &nbsp;&nbsp;&nbsp;&nbsp;Total Forward Exchange Contracts | &nbsp;&nbsp;&nbsp;&nbsp;Total Forward Exchange Contracts | &nbsp;&nbsp;&nbsp;&nbsp;Total Forward Exchange Contracts | &nbsp;&nbsp;&nbsp;&nbsp;Total Forward Exchange Contracts | $2555352 | &nbsp;&nbsp;$(12867771) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net unrealized appreciation (depreciation) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(10312419) |

---

<sup>a</sup>May be comprised of multiple contracts with the same counterparty, currency and settlement date.

#### Abbreviations

---

| | |
|:---|:---|
| **Selected Portfolio** |  |
| **BNPS** | BNP Paribas SA. |
| **CITI** | CITIBANK |
| **OAT** | Obligation Assumable by the Treasurer |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Franklin International Core Dividend Tilt Index ETF** | &nbsp;&nbsp;**Industry** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
|  | **Common Stocks 98.8%** |  |  |  |
|  | **Australia 9.3%** |  |  |  |
|  | ANZ Group Holdings Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 349770 | &nbsp;&nbsp;$6684108 |
|  | APA Group | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp; 328855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1760759 |
|  | ASX Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp; 47170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2156481 |
|  | Atlas Arteria Ltd. | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp; 258545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 862437 |
|  | BHP Group Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 457460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11017519 |
|  | Brambles Ltd. | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp; 29370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 450779 |
|  | Coles Group Ltd. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;307495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4199612 |
|  | Commonwealth Bank of Australia | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;125490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15193818 |
|  | CSL Ltd. | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4539583 |
|  | Dexus | &nbsp;&nbsp;Office REITs | &nbsp;&nbsp;&nbsp;&nbsp;276345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1204333 |
|  | Fortescue Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;397830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3983770 |
|  | Goodman Group | &nbsp;&nbsp;Industrial REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1547743 |
|  | GPT Group | &nbsp;&nbsp;Diversified REITs | &nbsp;&nbsp;&nbsp;&nbsp;204255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;647875 |
|  | Insurance Australia Group Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;338645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2004037 |
|  | Lottery Corp. Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;568265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1984959 |
|  | Macquarie Group Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4469215 |
|  | Medibank Pvt Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;691085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2287158 |
|  | Mirvac Group | &nbsp;&nbsp;Diversified REITs | &nbsp;&nbsp;1011485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1458329 |
|  | National Australia Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;233180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6014780 |
|  | Northern Star Resources Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;105910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1287521 |
|  | Origin Energy Ltd. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;445890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3152990 |
|  | Pro Medicus Ltd. | &nbsp;&nbsp;Health Care Technology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2660419 |
|  | REA Group Ltd. | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1823491 |
|  | Reece Ltd. | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117177 |
|  | Rio Tinto Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6029784 |
|  | Rio Tinto PLC | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;223390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12994892 |
|  | Santos Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;416965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2093157 |
|  | Scentre Group | &nbsp;&nbsp;Retail REITs | &nbsp;&nbsp;1310525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3057515 |
|  | SEEK Ltd. | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;960880 |
|  | Sonic Healthcare Ltd. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;120150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2109453 |
|  | Stockland | &nbsp;&nbsp;Diversified REITs | &nbsp;&nbsp;&nbsp;&nbsp;607425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2133687 |
|  | Suncorp Group Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;197135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2791849 |
|  | Telstra Group Ltd. | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;1012820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3212558 |
|  | TPG Telecom Ltd. | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;107690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;376163 |
|  | Transurban Group | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;635905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5826031 |
|  | Vicinity Ltd. | &nbsp;&nbsp;Retail REITs | &nbsp;&nbsp;&nbsp;&nbsp;924710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1496842 |
|  | Wesfarmers Ltd. | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;124600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6920399 |
|  | Westpac Banking Corp. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;267445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5934646 |
|  | WiseTech Global Ltd. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1176471 |
|  | Woodside Energy Group Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;469920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7277145 |
|  | Woolworths Group Ltd. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1560493 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147460858 |
|  | **Austria 0.6%** |  |  |  |
|  | ANDRITZ AG | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1249707 |
| <sup>a</sup> | BAWAG Group AG | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2491463 |
|  | Erste Group Bank AG | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2719213 |
|  | Mondi PLC | &nbsp;&nbsp;Paper & Forest Products | &nbsp;&nbsp;&nbsp;&nbsp;108580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1769887 |
|  | OMV AG | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2002186 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10232456 |
|  | **Belgium 0.7%** |  |  |  |
|  | Ageas SA | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2606304 |
|  | Anheuser-Busch InBev SA | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;912673 |
|  | Colruyt Group NV | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255519 |
|  | Groupe Bruxelles Lambert NV | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1737275 |
|  | KBC Group NV | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2701630 |
|  | UCB SA | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1220919 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Warehouses De Pauw CVA | &nbsp;&nbsp;Industrial REITs | &nbsp;&nbsp; 45835 | &nbsp;&nbsp; 1113730 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10548050 |
|  | **China 0.0%<sup>†</sup>** |  |  |  |
| <sup>a</sup> | Budweiser Brewing Co. APAC Ltd., Class H | &nbsp;&nbsp;Beverages | &nbsp;&nbsp; 400500 | &nbsp;&nbsp; 396419 |
|  | **Denmark 2.3%** |  |  |  |
|  | AP Moller - Maersk AS, Class A | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp; 656 | &nbsp;&nbsp; 1207590 |
|  | AP Moller - Maersk AS, Class B | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp; 992 | &nbsp;&nbsp; 1837818 |
|  | Carlsberg AS, Class B | &nbsp;&nbsp;Beverages | &nbsp;&nbsp; 7120 | &nbsp;&nbsp; 1005300 |
|  | Coloplast AS, Class B | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp; 37380 | &nbsp;&nbsp; 3538155 |
|  | Danske Bank AS | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;161980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6582875 |
|  | DSV AS | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2557500 |
|  | Novo Nordisk AS, Class B | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;266110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18405544 |
|  | Tryg AS | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2027432 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37162214 |
|  | **Finland 2.2%** |  |  |  |
|  | Elisa OYJ | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2041206 |
|  | Fortum OYJ | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;110868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2067962 |
|  | Kesko OYJ, Class A | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;557140 |
|  | Kesko OYJ, Class B | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1750125 |
|  | Kone OYJ, Class B | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5604412 |
|  | Metso OYJ | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;167765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2162301 |
|  | Neste OYJ | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;104930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1418942 |
|  | Nordea Bank Abp | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;776970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11478781 |
|  | Orion OYJ, Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;462918 |
|  | Orion OYJ, Class B | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1867761 |
|  | UPM-Kymmene OYJ | &nbsp;&nbsp;Paper & Forest Products | &nbsp;&nbsp;&nbsp;&nbsp;137782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3745790 |
|  | Wartsila OYJ Abp | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1559755 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34717093 |
|  | **France 9.4%** |  |  |  |
|  | Air Liquide SA | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4299873 |
|  | Airbus SE | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7314931 |
| <sup>a</sup> | Amundi SA | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1220136 |
|  | AXA SA | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;189570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9272685 |
|  | BNP Paribas SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;158420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14192561 |
|  | Bouygues SA | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2166344 |
|  | Bureau Veritas SA | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1768711 |
|  | Capgemini SE | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;909225 |
|  | Credit Agricole SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;283465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5345552 |
|  | Danone SA | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4347732 |
|  | Dassault Systemes SE | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2231258 |
|  | Engie SA | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp;&nbsp;&nbsp;447225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10460123 |
|  | EssilorLuxottica SA | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3528092 |
|  | Hermes International SCA | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4458219 |
|  | Kering SA | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1156888 |
|  | Legrand SA | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1126476 |
|  | L'Oreal SA | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6448780 |
|  | LVMH Moet Hennessy Louis Vuitton SE | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11147644 |
|  | Orange SA | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;449450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6813781 |
|  | Pernod Ricard SA | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5037878 |
|  | Safran SA | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4467719 |
|  | Sanofi SA | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;144180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13913682 |
|  | Schneider Electric SE | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12030856 |
|  | Thales SA | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1303818 |
|  | TotalEnergies SE | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;131275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8028458 |
|  | Veolia Environnement SA | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1422133 |
|  | Vinci SA | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4051552 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;148465107 |
|  | **Germany 7.7%** |  |  |  |
|  | adidas AG | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1137419 |
|  | Allianz SE | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14199864 |
|  | BASF SE | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;125490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6166245 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Bayerische Motoren Werke AG | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp; 31595 | &nbsp;&nbsp; 2798643 |
|  | Daimler Truck Holding AG | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 57405 | &nbsp;&nbsp; 2706849 |
|  | Deutsche Bank AG | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp; 35155 | &nbsp;&nbsp; 1038682 |
|  | Deutsche Post AG | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp; 150855 | &nbsp;&nbsp; 6943348 |
|  | Deutsche Telekom AG | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp; 191350 | &nbsp;&nbsp; 6956361 |
|  | E.ON SE | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp; 59185 | &nbsp;&nbsp; 1085536 |
|  | Heidelberg Materials AG | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp; 6230 | &nbsp;&nbsp; 1458594 |
|  | Infineon Technologies AG | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 83660 | &nbsp;&nbsp; 3546646 |
|  | Mercedes-Benz Group AG | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp; 173995 | &nbsp;&nbsp; 10148881 |
|  | Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4314196 |
|  | Rheinmetall AG | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8448177 |
|  | SAP SE | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25755970 |
|  | Siemens AG | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15575846 |
| <sup>b</sup> | Siemens Energy AG | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7837106 |
|  | Vonovia SE | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1999856 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;122118219 |
|  | **Hong Kong 2.4%** |  |  |  |
|  | AIA Group Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;559800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5020372 |
|  | CK Asset Holdings Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;379000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1670497 |
|  | CK Infrastructure Holdings Ltd., Class A | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;163900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1084663 |
|  | CLP Holdings Ltd. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;268500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2260873 |
|  | Hang Seng Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;169200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2534767 |
|  | Henderson Land Development Co. Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;284500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;994844 |
|  | HKT Trust & HKT Ltd. | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;890000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1328764 |
|  | Hong Kong & China Gas Co. Ltd. | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;2895000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2430325 |
|  | Hong Kong Exchanges & Clearing Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;100400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5356372 |
|  | Jardine Matheson Holdings Ltd. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1316844 |
|  | Link REIT | &nbsp;&nbsp;Retail REITs | &nbsp;&nbsp;&nbsp;&nbsp;667500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3562834 |
|  | MTR Corp. Ltd. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;164500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;590943 |
|  | Power Assets Holdings Ltd. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;322500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2072627 |
|  | Sino Land Co. Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;890000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;946688 |
|  | Sun Hung Kai Properties Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;991582 |
|  | Swire Properties Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;273600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;683129 |
|  | Techtronic Industries Co. Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;167000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1835936 |
| <sup>a</sup> | WH Group Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;2002500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1925971 |
|  | Wharf Real Estate Investment Co. Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;357020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1009662 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37617693 |
|  | **Ireland 0.3%** |  |  |  |
|  | DCC PLC | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230653 |
|  | Experian PLC | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4164141 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4394794 |
|  | **Isle Of Man 0.1%** |  |  |  |
|  | Entain PLC | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;122820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1516440 |
|  | **Israel 0.4%** |  |  |  |
|  | Bank Hapoalim BM | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;879542 |
|  | Bank Leumi Le-Israel BM | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1770840 |
|  | Israel Discount Bank Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;102795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1024439 |
|  | Mizrahi Tefahot Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1972404 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5647225 |
|  | **Italy 4.5%** |  |  |  |
|  | A2A SpA | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp;&nbsp;&nbsp;376025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1008592 |
|  | Banca Mediolanum SpA | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900302 |
|  | Banco BPM SpA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;328855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3826292 |
|  | Enel SpA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;1082685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10238445 |
|  | Eni SpA | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;514865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8316186 |
|  | Ferrari NV | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1956197 |
|  | FinecoBank Banca Fineco SpA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;114365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2528548 |
|  | Generali | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;110360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3913585 |
| <sup>a</sup> | Infrastrutture Wireless Italiane SpA | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;981405 |
|  | Intesa Sanpaolo SpA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;2670445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15333387 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Leonardo SpA | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp; 14685 | &nbsp;&nbsp; 823631 |
| <sup>c</sup> | Mediobanca Banca di Credito Finanziario SpA | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 155750 | &nbsp;&nbsp; 3608092 |
|  | Moncler SpA | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp; 5785 | &nbsp;&nbsp; 328603 |
| <sup>a</sup> | Nexi SpA | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp; 129050 | &nbsp;&nbsp; 768636 |
| <sup>a</sup> | Poste Italiane SpA | &nbsp;&nbsp;Insurance | &nbsp;&nbsp; 72090 | &nbsp;&nbsp; 1543520 |
|  | Prysmian SpA | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp; 13795 | &nbsp;&nbsp; 972243 |
|  | Recordati Industria Chimica e Farmaceutica SpA | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp; 14240 | &nbsp;&nbsp; 892614 |
|  | Snam SpA | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp; 558920 | &nbsp;&nbsp; 3373604 |
|  | Terna - Rete Elettrica Nazionale | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp; 195800 | &nbsp;&nbsp; 2005581 |
|  | UniCredit SpA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;119705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7996746 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71316209 |
|  | **Japan 22.7%** |  |  |  |
|  | Advantest Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5473370 |
|  | AGC, Inc. | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1518788 |
|  | Ajinomoto Co., Inc. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300390 |
|  | Asahi Kasei Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;356000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2531150 |
|  | Asics Corp. | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2267437 |
|  | Astellas Pharma, Inc. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;489500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4800282 |
|  | Bridgestone Corp. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;136800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5587732 |
|  | Canon, Inc. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2581059 |
|  | Capcom Co. Ltd. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1164700 |
|  | Chugai Pharmaceutical Co. Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3089290 |
|  | Concordia Financial Group Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288729 |
|  | Daifuku Co. Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1765080 |
|  | Dai-ichi Life Holdings, Inc. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337651 |
|  | Daiichi Sankyo Co. Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;117200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2730299 |
|  | Daikin Industries Ltd. | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2409631 |
|  | Daito Trust Construction Co. Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1912753 |
|  | Daiwa Securities Group, Inc. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;356000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2524989 |
|  | Denso Corp. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1201803 |
|  | Dentsu Group, Inc. | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1270036 |
|  | Disco Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5489411 |
|  | Eisai Co. Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56696 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1628128 |
|  | FANUC Corp. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2013029 |
|  | Fast Retailing Co. Ltd. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4031674 |
|  | Fuji Electric Co. Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1077852 |
|  | FUJIFILM Holdings Corp. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294525 |
|  | Fujikura Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2982380 |
|  | Hitachi Construction Machinery Co. Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;788882 |
|  | Hitachi Ltd. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;374510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10902520 |
|  | Honda Motor Co. Ltd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;267000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2577670 |
|  | Hoshizaki Corp. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;409944 |
|  | Hoya Corp. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2779099 |
|  | Hulic Co. Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;133500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1342440 |
|  | IHI Corp. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1537526 |
|  | ITOCHU Corp. | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4655641 |
|  | Japan Exchange Group, Inc. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;734067 |
|  | Japan Post Bank Co. Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;178000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1916231 |
|  | Japan Real Estate Investment Corp. | &nbsp;&nbsp;Office REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1511654 |
|  | Japan Tobacco, Inc. | &nbsp;&nbsp;Tobacco | &nbsp;&nbsp;&nbsp;&nbsp;283600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8340426 |
|  | JFE Holdings, Inc. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;106900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1241104 |
|  | Kajima Corp. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1159289 |
|  | Kansai Electric Power Co., Inc. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1053003 |
|  | Kao Corp. | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1989245 |
|  | Kawasaki Heavy Industries Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2060092 |
|  | Kawasaki Kisen Kaisha Ltd. | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1259414 |
|  | KDDI Corp. | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1146900 |
|  | Keyence Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5610013 |
|  | Kirin Holdings Co. Ltd. | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;178000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2488636 |
|  | Kobe Bussan Co. Ltd. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1150153 |
|  | Komatsu Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;178000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5837419 |
|  | Konami Group Corp. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347489 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| Kyocera Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp; 89000 | &nbsp;&nbsp; 1068099 |
| Lasertec Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 20654 | &nbsp;&nbsp; 2775410 |
| LY Corp. | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp; 133500 | &nbsp;&nbsp; 490210 |
| M3, Inc. | &nbsp;&nbsp;Health Care Technology | &nbsp;&nbsp; 57200 | &nbsp;&nbsp; 786255 |
| Makita Corp. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 66500 | &nbsp;&nbsp; 2050085 |
| Marubeni Corp. | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp; 152000 | &nbsp;&nbsp; 3065361 |
| Minebea Mitsumi, Inc. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 45600 | &nbsp;&nbsp; 668160 |
| Mitsubishi Chemical Group Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 178000 | &nbsp;&nbsp; 934086 |
| Mitsubishi Corp. | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp; 206700 | &nbsp;&nbsp; 4132712 |
| Mitsubishi Electric Corp. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;133500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2875271 |
| Mitsubishi Heavy Industries Ltd. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;274500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6860362 |
| Mitsubishi UFJ Financial Group, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;979000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13440112 |
| Mitsui & Co. Ltd. | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1815798 |
| Mitsui OSK Lines Ltd. | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2969850 |
| Mizuho Financial Group, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;229100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6333181 |
| MonotaRO Co. Ltd. | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;876475 |
| MS&AD Insurance Group Holdings, Inc. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1402063 |
| Murata Manufacturing Co. Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;222500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3317976 |
| NEC Corp. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1775868 |
| NIDEC Corp. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1413715 |
| Nintendo Co. Ltd. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8311953 |
| Nippon Building Fund, Inc. | &nbsp;&nbsp;Office REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1443595 |
| Nippon Steel Corp. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;118900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2249671 |
| Nippon Yusen KK | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp;&nbsp;&nbsp;118800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4266914 |
| Niterra Co. Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1724670 |
| Nitori Holdings Co. Ltd. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5420 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;522319 |
| Nitto Denko Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;125825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2431656 |
| Nomura Holdings, Inc. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;445000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2932881 |
| Nomura Research Institute Ltd. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;668201 |
| Obayashi Corp. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;178000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2693198 |
| Obic Co. Ltd. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;926459 |
| Omron Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1084130 |
| Ono Pharmaceutical Co. Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;115400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1245516 |
| ORIX Corp. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;119100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2687985 |
| Otsuka Corp. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1297838 |
| Otsuka Holdings Co. Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;603982 |
| Panasonic Holdings Corp. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;997191 |
| Recruit Holdings Co. Ltd. | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;121200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7161494 |
| Renesas Electronics Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;161700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2002709 |
| SBI Holdings, Inc. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2597792 |
| SCREEN Holdings Co. Ltd. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1874175 |
| SCSK Corp. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;397339 |
| Sekisui Chemical Co. Ltd. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;101600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1837234 |
| Sekisui House Ltd. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;178000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3922420 |
| Seven & i Holdings Co. Ltd. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;116100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1867149 |
| SG Holdings Co. Ltd. | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;989847 |
| Shin-Etsu Chemical Co. Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;204100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6742810 |
| Shionogi & Co. Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;332230 |
| Shiseido Co. Ltd. | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1334454 |
| SMC Corp. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;544016 |
| SoftBank Corp. | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;7075500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10923441 |
| SoftBank Group Corp. | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5525207 |
| Sompo Holdings, Inc. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;103170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3103421 |
| Sony Group Corp. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;400500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10342103 |
| Square Enix Holdings Co. Ltd. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1457319 |
| Sumitomo Corp. | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;133500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3446443 |
| Sumitomo Electric Industries Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;149100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3194742 |
| Sumitomo Mitsui Financial Group, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;311500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7836831 |
| Sumitomo Mitsui Trust Group, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1182703 |
| Suntory Beverage & Food Ltd. | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;919160 |
| Suzuki Motor Corp. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;279952 |
| Sysmex Corp. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;985097 |
| Takeda Pharmaceutical Co. Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;356000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10905881 |
| TDK Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;356000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4178739 |
| Terumo Corp. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;687978 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Toho Co. Ltd. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp; 3100 | &nbsp;&nbsp; 182637 |
|  | Tokio Marine Holdings, Inc. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp; 158100 | &nbsp;&nbsp; 6688699 |
|  | Tokyo Century Corp. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp; 44500 | &nbsp;&nbsp; 500777 |
|  | Tokyo Electron Ltd. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 59020 | &nbsp;&nbsp; 11310004 |
|  | Toray Industries, Inc. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 91200 | &nbsp;&nbsp; 623679 |
|  | Toyo Suisan Kaisha Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp; 3100 | &nbsp;&nbsp; 205708 |
|  | Toyota Industries Corp. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 4435 | &nbsp;&nbsp; 500471 |
|  | Toyota Motor Corp. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp; 992000 | &nbsp;&nbsp; 17121091 |
|  | Toyota Tsusho Corp. | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp; 44500 | &nbsp;&nbsp; 1007100 |
|  | Trend Micro, Inc. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;790866 |
|  | Unicharm Corp. | &nbsp;&nbsp;Household Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320553 |
|  | Yakult Honsha Co. Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185910 |
|  | Yamaha Motor Co. Ltd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;692040 |
|  | Yaskawa Electric Corp. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8304 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187932 |
|  | Yokogawa Electric Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;464377 |
|  | Zensho Holdings Co. Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1010243 |
|  | ZOZO, Inc. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;118910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1281753 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;358896759 |
|  | **Luxembourg 0.1%** |  |  |  |
| <sup>a</sup> | CVC Capital Partners PLC | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1724947 |
|  | **Macau 0.1%** |  |  |  |
|  | Galaxy Entertainment Group Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;252600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1121415 |
|  | **Netherlands 4.8%** |  |  |  |
| <sup>a,b</sup> | Adyen NV | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5698354 |
|  | Akzo Nobel NV | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1675532 |
| <sup>b</sup> | Argenx SE | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2415458 |
| <sup>b</sup> | Argenx SE | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38603 |
|  | ASM International NV | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4825485 |
|  | ASML Holding NV | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29378113 |
|  | Heineken NV | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347988 |
|  | ING Groep NV | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;371575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8124160 |
|  | Koninklijke KPN NV | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;977665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4746604 |
|  | Koninklijke Philips NV | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;107245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2569404 |
|  | NN Group NV | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3713437 |
|  | Prosus NV | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1884540 |
|  | Shell PLC | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;198470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6944836 |
|  | Universal Music Group NV | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2397207 |
|  | Wolters Kluwer NV | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1260540 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76020261 |
|  | **New Zealand 0.1%** |  |  |  |
|  | Fisher & Paykel Healthcare Corp. Ltd. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44055 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;964106 |
|  | **Norway 1.2%** |  |  |  |
|  | Aker BP ASA | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1904516 |
|  | DNB Bank ASA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;185120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5096439 |
|  | Equinor ASA | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1761175 |
|  | Gjensidige Forsikring ASA | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1022009 |
|  | Kongsberg Gruppen ASA | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1271845 |
|  | Norsk Hydro ASA | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;287915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1637067 |
|  | Orkla ASA | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;172215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1865150 |
|  | Salmar ASA | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;787515 |
|  | Telenor ASA | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;160200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2480641 |
|  | Var Energi ASA | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;201140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;644184 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18470541 |
|  | **Poland 0.6%** |  |  |  |
|  | Bank Polska Kasa Opieki SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2938755 |
|  | ING Bank Slaski SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;707518 |
|  | LPP SA | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1156956 |
|  | Powszechny Zaklad Ubezpieczen SA | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;147368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2569127 |
|  | Santander Bank Polska SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1458775 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8831131 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Portugal 0.2%** |  |  |  |
|  | EDP SA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp; 599860 | &nbsp;&nbsp; 2592663 |
|  | **Singapore 2.2%** |  |  |  |
|  | CapitaLand Ascendas REIT, Class A | &nbsp;&nbsp;Industrial REITs | &nbsp;&nbsp; 979000 | &nbsp;&nbsp; 2060001 |
|  | CapitaLand Integrated Commercial Trust, Class A | &nbsp;&nbsp;Retail REITs | &nbsp;&nbsp;1157000 | &nbsp;&nbsp; 1971256 |
|  | CapitaLand Investment Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp; 578500 | &nbsp;&nbsp; 1203647 |
|  | DBS Group Holdings Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 267000 | &nbsp;&nbsp; 9414651 |
|  | Genting Singapore Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;1424000 | &nbsp;&nbsp; 799403 |
|  | Jardine Cycle & Carriage Ltd. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp; 21100 | &nbsp;&nbsp; 404058 |
|  | Keppel Ltd. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;356000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2073976 |
|  | Mapletree Pan Asia Commercial Trust | &nbsp;&nbsp;Diversified REITs | &nbsp;&nbsp;&nbsp;&nbsp;578500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;572300 |
|  | Oversea-Chinese Banking Corp. Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;464100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5943133 |
|  | Singapore Airlines Ltd. | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp;&nbsp;&nbsp;356000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1948196 |
|  | Singapore Exchange Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;133500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1559675 |
|  | Singapore Telecommunications Ltd. | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;273600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;820596 |
|  | United Overseas Bank Ltd. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;171700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4853139 |
|  | Wilmar International Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;445000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1002748 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34626779 |
|  | **South Africa 0.0%<sup>†</sup>** |  |  |  |
|  | Anglo American PLC | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;629319 |
|  | **Spain 2.8%** |  |  |  |
| <sup>a</sup> | Aena SME SA | &nbsp;&nbsp;Transportation Infrastructure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2322582 |
|  | Banco Bilbao Vizcaya Argentaria SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;675065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10345104 |
|  | Banco Santander SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;588735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4856263 |
|  | CaixaBank SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;575385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4967005 |
|  | Iberdrola SA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;294590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5633152 |
|  | Industria de Diseno Textil SA | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2123176 |
|  | Naturgy Energy Group SA | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;860332 |
|  | Redeia Corp. SA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;106355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2265932 |
| <sup>c</sup> | Repsol SA | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;290140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4235121 |
|  | Telefonica SA | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;1172130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6133781 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43742448 |
|  | **Sweden 2.7%** |  |  |  |
|  | Assa Abloy AB, Class B | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;620266 |
|  | Atlas Copco AB, Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;147295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2362340 |
|  | Atlas Copco AB, Class B | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1286956 |
|  | EQT AB | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;114365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3790807 |
|  | Essity AB, Class B | &nbsp;&nbsp;Household Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;488899 |
| <sup>a</sup> | Evolution AB | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3719988 |
|  | H & M Hennes & Mauritz AB, Class B | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;126380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1762350 |
|  | Hexagon AB, Class B | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253267 |
|  | Nordnet AB publ | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1152002 |
|  | Saab AB, Class B | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1182483 |
|  | Sandvik AB | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;587403 |
|  | Skandinaviska Enskilda Banken AB, Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;177555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3075876 |
|  | Skanska AB, Class B | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380424 |
|  | SKF AB, Class B | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1692876 |
|  | SSAB AB, Class A | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222937 |
|  | SSAB AB, Class B | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;101905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;597504 |
|  | Svenska Handelsbanken AB, Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;246530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3270977 |
|  | Svenska Handelsbanken AB, Class B | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129497 |
|  | Swedbank AB, Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;262995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6912642 |
|  | Tele2 AB, Class B | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;143735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2085050 |
|  | Telefonaktiebolaget LM Ericsson, Class B | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp;&nbsp;&nbsp;348435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2959197 |
|  | Telia Co. AB | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;601640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2144476 |
|  | Volvo AB, Class A | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178048 |
|  | Volvo AB, Class B | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1264008 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42120273 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Switzerland 8.3%** |  |  |  |
| ABB Ltd. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp; 96120 | &nbsp;&nbsp; 5712861 |
| Alcon AG | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp; 1335 | &nbsp;&nbsp; 117735 |
| Cie Financiere Richemont SA, Class A | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp; 41385 | &nbsp;&nbsp; 7770086 |
| DSM-Firmenich AG | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 27590 | &nbsp;&nbsp; 2923206 |
| Galderma Group AG | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp; 12015 | &nbsp;&nbsp; 1735835 |
| Givaudan SA | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 545 | &nbsp;&nbsp; 2629830 |
| Julius Baer Group Ltd. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp; 51620 | &nbsp;&nbsp; 3478514 |
| Kuehne & Nagel International AG | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp; 12015 | &nbsp;&nbsp; 2590923 |
| Lonza Group AG | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3790327 |
| Nestle SA | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;221165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21902559 |
| Novartis AG | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;148185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17903205 |
| Partners Group Holding AG | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7369824 |
| Roche Holding AG | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19935106 |
| Roche Holding AG | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;922425 |
| SGS SA | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3645254 |
| Sika AG | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246790 |
| STMicroelectronics NV | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1029609 |
| Swiss Life Holding AG | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1527 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1539661 |
| Swiss Re AG | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7053921 |
| Swisscom AG | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1257852 |
| UBS Group AG | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;149520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5043482 |
| Zurich Insurance Group AG | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11781766 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;130380771 |
| **United Kingdom 12.7%** |  |  |  |
| 3i Group PLC | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3165622 |
| Admiral Group PLC | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2691986 |
| Ashtead Group PLC | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2249273 |
| AstraZeneca PLC | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;129940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18019993 |
| Aviva PLC | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;595410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5052174 |
| BAE Systems PLC | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;197135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5096263 |
| BP PLC | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;1308745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6558602 |
| British American Tobacco PLC | &nbsp;&nbsp;Tobacco | &nbsp;&nbsp;&nbsp;&nbsp;322625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15310232 |
| BT Group PLC | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;125935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334364 |
| Bunzl PLC | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1428896 |
| CK Hutchison Holdings Ltd., Class A | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;445000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2738025 |
| Compass Group PLC | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346010 |
| Croda International PLC | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1301642 |
| Diageo PLC | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;246085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6164425 |
| GSK PLC | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;414295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7891431 |
| Halma PLC | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;897634 |
| Hikma Pharmaceuticals PLC | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1018326 |
| HSBC Holdings PLC | &nbsp;&nbsp;Banks | &nbsp;&nbsp;1758195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21245570 |
| Imperial Brands PLC | &nbsp;&nbsp;Tobacco | &nbsp;&nbsp;&nbsp;&nbsp;157975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6228156 |
| Intermediate Capital Group PLC | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1951670 |
| Intertek Group PLC | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2196763 |
| J Sainsbury PLC | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102499 |
| Kingfisher PLC | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;325740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1298066 |
| Land Securities Group PLC | &nbsp;&nbsp;Diversified REITs | &nbsp;&nbsp;&nbsp;&nbsp;194465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1681520 |
| Legal & General Group PLC | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;1438685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5019441 |
| Lloyds Banking Group PLC | &nbsp;&nbsp;Banks | &nbsp;&nbsp;4017015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4222115 |
| London Stock Exchange Group PLC | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3372346 |
| M&G PLC | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;542010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1908849 |
| National Grid PLC | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp;&nbsp;&nbsp;470810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6848523 |
| NatWest Group PLC | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;598525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4194443 |
| Persimmon PLC | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1438360 |
| Phoenix Group Holdings PLC | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;187345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1690554 |
| Reckitt Benckiser Group PLC | &nbsp;&nbsp;Household Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4532379 |
| RELX PLC | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;104018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5611839 |
| Rentokil Initial PLC | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;459240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2215833 |
| Rolls-Royce Holdings PLC | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;551800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7316591 |
| Sage Group PLC | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1494621 |
| Schroders PLC | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;212710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1053434 |
| Segro PLC | &nbsp;&nbsp;Industrial REITs | &nbsp;&nbsp;&nbsp;&nbsp;322625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3004572 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Severn Trent PLC | &nbsp;&nbsp;Water Utilities | &nbsp;&nbsp; 68975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2584172 |
|  | Smith & Nephew PLC | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp; 15130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 230763 |
|  | Spirax Group PLC | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 17800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1452556 |
|  | Taylor Wimpey PLC | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp; 922040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1500426 |
|  | Tesco PLC | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp; 321290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1766842 |
|  | Unilever PLC | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp; 222945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13518928 |
|  | United Utilities Group PLC | &nbsp;&nbsp;Water Utilities | &nbsp;&nbsp; 179335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2805254 |
|  | Vodafone Group PLC | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;5351840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5704299 |
|  | WPP PLC | &nbsp;&nbsp;Media | &nbsp;&nbsp; 305270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2144342 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200600624 |
|  | **United States 0.4%** |  |  |  |
|  | Holcim AG, Class B | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1811027 |
|  | Stellantis NV | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;525990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5253738 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7064765 |
|  | **Total Common Stocks (Cost $1,343,305,670)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1559379579 |
|  | **Preferred Stocks 0.4%** |  |  |  |
|  | **Germany 0.4%** |  |  |  |
| <sup>d</sup> | Bayerische Motoren Werke AG, 6.145%, pfd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;514109 |
| <sup>a,d</sup> | Dr. Ing hc F Porsche AG, 5.508%, pfd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1445922 |
| <sup>d</sup> | Volkswagen AG, 7.097%, pfd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5183013 |
|  | **Total Preferred Stocks (Cost $7,666,152)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7143044 |
|  | **Total Investments before Short-Term Investments (Cost $1,350,971,822)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1566522623 |
|  | **Short-Term Investments 0.4%** |  |  |  |
|  | **Investments from Cash Collateral<br> Received for Loaned Securities 0.4%** |  |  |  |
|  | **United States 0.4%** |  |  |  |
| <sup>e,f</sup> | Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;5850350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5850350 |
|  | **Money Market Funds 0.0%<sup>†</sup>** |  |  |  |
|  | **United States 0.0%<sup>†</sup>** |  |  |  |
| <sup>e,f</sup> | Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9271 |
|  | **Total Short-Term Investments (Cost $5,859,621)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5859621 |
|  | **Total Investments (Cost $1,356,831,443) 99.6%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1572382244 |
|  | **Other Assets, less Liabilities 0.4%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6347500 |
|  | **Net Assets 100.0%** |  |  | &nbsp;&nbsp;$1578729744 |

---

---

| |
|:---|
| <sup>†</sup>Rounds to less than 0.1% of net assets. |
| <sup>a</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional buyers or in a public offering registered under the Securities Act of 1933. At June 30, 2025, the aggregate value of these securities was $24,239,343, representing 1.5% of net assets. |
| <sup>b</sup>Non-income producing. |
| <sup>c</sup>A portion or all of the security is on loan at June 30, 2025. |
| <sup>d</sup>Variable rate security. The rate shown represents the yield at period end. |
| <sup>e</sup>The rate shown is the annualized seven-day effective yield at period end. |
| <sup>f</sup>See Note 3 regarding investments in affiliated management investment companies. |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

At June 30, 2025, the Fund had the following futures contracts outstanding.

#### Futures Contracts

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Type** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Notional<br> Amount\*** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value/Unrealized<br> Appreciation<br> (Depreciation)** |
| **Equity Contracts** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;MSCI EAFE | &nbsp;&nbsp;Long | &nbsp;&nbsp;70 | &nbsp;&nbsp;$9385950 | &nbsp;&nbsp;9/19/25 | &nbsp;&nbsp;$107465 |

---

\*As of period end.

#### Abbreviations

---

| | |
|:---|:---|
| **Selected Portfolio** |  |
| **REIT** | Real Estate Investment Trust |
| **SPA** | Standby Purchase Agreement |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Franklin International Dividend Multiplier Index ETF** | &nbsp;&nbsp;**Industry** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
|  | **Common Stocks 95.7%** |  |  |  |
|  | **Australia 7.9%** |  |  |  |
|  | APA Group | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp; 84784 | &nbsp;&nbsp;$453951 |
|  | Fortescue Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 34656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 347037 |
| <sup>a</sup> | Glencore PLC | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 34336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 133440 |
|  | Rio Tinto Ltd. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 3824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 268474 |
|  | Rio Tinto PLC | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 5840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 339721 |
|  | Santos Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 52536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 263730 |
|  | Woodside Energy Group Ltd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131568 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1937921 |
|  | **Austria 1.4%** |  |  |  |
|  | OMV AG | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345199 |
|  | **Belgium 1.6%** |  |  |  |
|  | Ageas SA | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382379 |
|  | **Canada 7.4%** |  |  |  |
|  | Bank of Nova Scotia | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232660 |
|  | BCE, Inc. | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;16120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;356778 |
|  | Emera, Inc. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171528 |
|  | Enbridge, Inc. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188622 |
|  | Keyera Corp. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155115 |
|  | Magna International, Inc. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;259150 |
|  | TC Energy Corp. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132911 |
|  | TELUS Corp. | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;19960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;319916 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1816680 |
|  | **China 2.1%** |  |  |  |
|  | SITC International Holdings Co. Ltd. | &nbsp;&nbsp;Marine Transportation | &nbsp;&nbsp;157000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;503000 |
|  | **Denmark 2.0%** |  |  |  |
|  | Danske Bank AS | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348854 |
|  | Tryg AS | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147029 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495883 |
|  | **Finland 1.6%** |  |  |  |
|  | Kesko OYJ, Class B | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184648 |
|  | UPM-Kymmene OYJ | &nbsp;&nbsp;Paper & Forest Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217926 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;402574 |
|  | **France 11.1%** |  |  |  |
| <sup>b</sup> | Amundi SA | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172900 |
| <sup>b</sup> | Ayvens SA | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;46656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;517549 |
|  | BNP Paribas SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113240 |
|  | Bouygues SA | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405322 |
|  | Carrefour SA | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;39064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;548887 |
|  | Cie Generale des Etablissements Michelin SCA | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4528 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167641 |
|  | Credit Agricole SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95798 |
|  | Engie SA | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp;&nbsp;&nbsp;15208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355699 |
|  | Orange SA | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;12120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183742 |
|  | Renault SA | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162418 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2723196 |
|  | **Germany 1.7%** |  |  |  |
| <sup>b</sup> | DWS Group GmbH & Co. KGaA | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153682 |
|  | Mercedes-Benz Group AG | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257579 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;411261 |
|  | **Hong Kong 2.8%** |  |  |  |
|  | Henderson Land Development Co. Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;86000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300726 |
|  | HKT Trust & HKT Ltd. | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;107000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159750 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Sino Land Co. Ltd. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;216000 | &nbsp;&nbsp; 229758 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;690234 |
|  | **Israel 0.6%** |  |  |  |
|  | ICL Group Ltd. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 20408 | &nbsp;&nbsp; 139932 |
|  | **Italy 8.8%** |  |  |  |
|  | Banca Monte dei Paschi di Siena SpA | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 45784 | &nbsp;&nbsp; 388136 |
|  | Banco BPM SpA | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 29192 | &nbsp;&nbsp; 339655 |
|  | BPER Banca SpA | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 25792 | &nbsp;&nbsp; 233609 |
|  | Enel SpA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp; 14072 | &nbsp;&nbsp; 133072 |
|  | Eni SpA | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;10672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172376 |
|  | Mediobanca Banca di Credito Finanziario SpA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168277 |
| <sup>b</sup> | Poste Italiane SpA | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;23464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;502388 |
|  | Snam SpA | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp;37000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223330 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;2160843 |
|  | **Japan 10.0%** |  |  |  |
|  | AGC, Inc. | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;292637 |
|  | Astellas Pharma, Inc. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;36400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;356957 |
|  | Honda Motor Co. Ltd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;29600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285764 |
|  | Isuzu Motors Ltd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283867 |
|  | Japan Tobacco, Inc. | &nbsp;&nbsp;Tobacco | &nbsp;&nbsp;&nbsp;&nbsp;14500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;426432 |
|  | MS&AD Insurance Group Holdings, Inc. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169947 |
|  | Nippon Steel Corp. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121282 |
|  | Niterra Co. Ltd. | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290768 |
|  | Takeda Pharmaceutical Co. Ltd. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229759 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;2457413 |
|  | **Macau 0.1%** |  |  |  |
|  | Sands China Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20815 |
|  | **Netherlands 3.0%** |  |  |  |
|  | ASR Nederland NV | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210722 |
|  | BE Semiconductor Industries NV | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28635 |
|  | NN Group NV | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485853 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725210 |
|  | **Norway 2.0%** |  |  |  |
|  | Telenor ASA | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83865 |
|  | Var Energi ASA | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;124680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;399308 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483173 |
|  | **Portugal 1.7%** |  |  |  |
|  | EDP SA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;97376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;420870 |
|  | **Singapore 2.4%** |  |  |  |
|  | DBS Group Holdings Ltd., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165726 |
|  | Keppel Ltd. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;50400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;293619 |
|  | Wilmar International Ltd. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;56800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127991 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;587336 |
|  | **Spain 4.6%** |  |  |  |
|  | CaixaBank SA | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;15232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131490 |
|  | Endesa SA | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;10192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321709 |
|  | Mapfre SA | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;55784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227223 |
|  | Repsol SA | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;24256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354060 |
|  | Telefonica SA | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;20192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105665 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;1140147 |
|  | **Sweden 4.0%** |  |  |  |
|  | Svenska Handelsbanken AB, Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;31936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;423729 |
|  | Swedbank AB, Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;11384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299221 |
|  | Tele2 AB, Class B | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93188 |
|  | Volvo AB, Class B | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161294 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;977432 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Switzerland 2.6%** |  |  |  |
|  | Banque Cantonale Vaudoise | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 1512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 173709 |
|  | Roche Holding AG | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp; 512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 166207 |
|  | Swiss Prime Site AG | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp; 520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 77608 |
|  | Swiss Re AG | &nbsp;&nbsp;Insurance | &nbsp;&nbsp; 640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 110271 |
|  | Zurich Insurance Group AG | &nbsp;&nbsp;Insurance | &nbsp;&nbsp; 152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 105904 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;633699 |
|  | **United Kingdom 16.3%** |  |  |  |
|  | Admiral Group PLC | &nbsp;&nbsp;Insurance | &nbsp;&nbsp; 8168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 366011 |
|  | Aviva PLC | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;32768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278043 |
|  | British American Tobacco PLC | &nbsp;&nbsp;Tobacco | &nbsp;&nbsp;&nbsp;&nbsp;13088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;621094 |
|  | HSBC Holdings PLC | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104307 |
|  | Imperial Brands PLC | &nbsp;&nbsp;Tobacco | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;384157 |
|  | Legal & General Group PLC | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;119336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416352 |
|  | M&G PLC | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;138816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;488882 |
|  | Phoenix Group Holdings PLC | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;72584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;654980 |
|  | Reckitt Benckiser Group PLC | &nbsp;&nbsp;Household Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2304 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156443 |
|  | United Utilities Group PLC | &nbsp;&nbsp;Water Utilities | &nbsp;&nbsp;&nbsp;&nbsp;22784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;356400 |
|  | WPP PLC | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;23816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167293 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3993962 |
|  | **Total Common Stocks (Cost $22,114,215)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23449159 |
|  | **Preferred Stocks 3.4%** |  |  |  |
|  | **Germany 3.4%** |  |  |  |
| <sup>c</sup> | Porsche Automobil Holding SE, 5.669%, pfd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;11840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468236 |
| <sup>c</sup> | Volkswagen AG, 7.097%, pfd. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362731 |
|  | **Total Preferred Stocks (Cost $887,990)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;830967 |
|  | **Total Investments before Short-Term Investments (Cost $23,002,205)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24280126 |
|  | **Short-Term Investments 0.0%<sup>†</sup>** |  |  |  |
|  | **Money Market Funds 0.0%<sup>†</sup>** |  |  |  |
|  | **United States 0.0%<sup>†</sup>** |  |  |  |
| <sup>d,e</sup> | Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;&nbsp;&nbsp;12175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12175 |
|  | **Total Short-Term Investments (Cost $12,175)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12175 |
|  | **Total Investments (Cost $23,014,380) 99.1%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24292301 |
|  | **Other Assets, less Liabilities 0.9%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213722 |
|  | **Net Assets 100.0%** |  |  | &nbsp;&nbsp;$24506023 |

---

---

| |
|:---|
| <sup>†</sup>Rounds to less than 0.1% of net assets. |
| <sup>a</sup>Non-income producing. |
| <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional buyers or in a public offering registered under the Securities Act of 1933. At June 30, 2025, the aggregate value of these securities was $1,346,519, representing 5.5% of net assets. |
| <sup>c</sup>Variable rate security. The rate shown represents the yield at period end. |
| <sup>d</sup>The rate shown is the annualized seven-day effective yield at period end. |
| <sup>e</sup>See Note 3 regarding investments in affiliated management investment companies. |

---

At June 30, 2025, the Fund had the following futures contracts outstanding.

#### Futures Contract

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Type** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Notional<br> Amount\*** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value/Unrealized<br> Appreciation<br> (Depreciation)** |
| **Equity Contracts** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;MSCI EAFE | &nbsp;&nbsp;Long | &nbsp;&nbsp;1 | &nbsp;&nbsp;$134085 | &nbsp;&nbsp;9/19/25 | &nbsp;&nbsp;$973 |

---

\*As of period end.

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

#### Futures Contract (continued)<br>

#### Abbreviations

---

| | |
|:---|:---|
| **Selected Portfolio** |  |
| **SPA** | Standby Purchase Agreement |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Franklin Intelligent Machines ETF** | &nbsp;&nbsp;**Country** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
|  | **Common Stocks 99.3%** |  |  |  |
|  | **Aerospace & Defense 12.7%** |  |  |  |
| <sup>a</sup> | AeroVironment, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1303 | &nbsp;&nbsp;$371290 |
| <sup>a</sup> | Axon Enterprise, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2309952 |
| <sup>a</sup> | Kratos Defense & Security Solutions, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;18166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 843811 |
|  | Leonardo DRS, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 136698 |
|  | Rheinmetall AG, ADR | &nbsp;&nbsp;Germany | &nbsp;&nbsp; 796 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 336302 |
| <sup>a</sup> | Rocket Lab Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 7870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 281510 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4279563 |
|  | **Automobile Components 0.6%** |  |  |  |
| <sup>a</sup> | Hesai Group, ADR | &nbsp;&nbsp;China | &nbsp;&nbsp;&nbsp;&nbsp;8644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189736 |
|  | **Automobiles 7.0%** |  |  |  |
|  | BYD Co. Ltd., Class H | &nbsp;&nbsp;China | &nbsp;&nbsp;15378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239975 |
| <sup>a</sup> | Tesla, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;6632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2106721 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2346696 |
|  | **Communications Equipment 1.6%** |  |  |  |
| <sup>a</sup> | Arista Networks, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;5274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;539583 |
|  | **Computers & Peripherals 3.4%** |  |  |  |
|  | Apple, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;5517 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1131923 |
|  | **Construction & Engineering 2.8%** |  |  |  |
|  | Quanta Services, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;781869 |
|  | Valmont Industries, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151202 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;933071 |
|  | **Electrical Equipment 4.8%** |  |  |  |
| <sup>a</sup> | Contemporary Amperex Technology Co. Ltd., Class H | &nbsp;&nbsp;China | &nbsp;&nbsp;&nbsp;&nbsp;3698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155081 |
|  | GE Vernova, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;840290 |
| <sup>a</sup> | Siemens Energy AG | &nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;3002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345553 |
|  | Vertiv Holdings Co., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;274797 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1615721 |
|  | **Electronic Equipment, Instruments & Components 7.8%** |  |  |  |
|  | Amphenol Corp., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;6954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;686708 |
| <sup>a</sup> | Celestica, Inc. | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;8046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1256061 |
|  | Keyence Corp. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73679 |
| <sup>a</sup> | Keysight Technologies, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77178 |
|  | TE Connectivity PLC | &nbsp;&nbsp;Ireland | &nbsp;&nbsp;&nbsp;&nbsp;1444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243559 |
| <sup>a</sup> | Trimble, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;4040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306959 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2644144 |
|  | **Energy Equipment & Services 1.7%** |  |  |  |
|  | Baker Hughes Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;7026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269377 |
| <sup>a</sup> | Oceaneering International, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;5967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123636 |
|  | TechnipFMC PLC | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;4948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170409 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;563422 |
|  | **Ground Transportation 0.7%** |  |  |  |
| <sup>a</sup> | Uber Technologies, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232970 |
|  | **Health Care Equipment & Supplies 6.3%** |  |  |  |
| <sup>a</sup> | Align Technology, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26696 |
|  | Hoya Corp. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79454 |
| <sup>a</sup> | IDEXX Laboratories, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95468 |
| <sup>a</sup> | Intuitive Surgical, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1745976 |
| <sup>a</sup> | PROCEPT BioRobotics Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36058 |
|  | Stryker Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151922 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2135574 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Health Care Technology 0.7%** |  |  |  |
|  | Pro Medicus Ltd. | &nbsp;&nbsp;Australia | &nbsp;&nbsp; 1357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 253525 |
|  | **Household Durables 0.4%** |  |  |  |
|  | Garmin Ltd. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 127945 |
|  | **Machinery 0.3%** |  |  |  |
| <sup>a</sup> | Symbotic, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 99883 |
|  | **Semiconductors & Semiconductor Equipment 31.4%** |  |  |  |
| <sup>a</sup> | Advanced Micro Devices, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100181 |
|  | Analog Devices, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 162806 |
|  | Applied Materials, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1759 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322020 |
|  | ASM International NV | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360396 |
|  | ASML Holding NV | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;332577 |
|  | Broadcom, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;7604 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2096043 |
|  | Entegris, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29841 |
|  | Infineon Technologies AG | &nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;4570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193739 |
|  | KLA Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;434434 |
|  | Lam Research Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297958 |
|  | Marvell Technology, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226550 |
|  | Monolithic Power Systems, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179919 |
|  | NVIDIA Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;21218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3352232 |
|  | NXP Semiconductors NV | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133060 |
| <sup>a</sup> | SiTime Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97804 |
|  | Taiwan Semiconductor Manufacturing Co. Ltd., ADR | &nbsp;&nbsp;Taiwan | &nbsp;&nbsp;&nbsp;&nbsp;7758 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1757109 |
|  | Teradyne, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309864 |
|  | Texas Instruments, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169833 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10556366 |
|  | **Software 17.1%** |  |  |  |
| <sup>a</sup> | Aurora Innovation, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;40554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212503 |
| <sup>a</sup> | Autodesk, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;586016 |
|  | Bentley Systems, Inc., Class B | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170707 |
| <sup>a</sup> | Cadence Design Systems, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1123823 |
|  | Constellation Software, Inc. | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;676982 |
| <sup>a</sup> | Crowdstrike Holdings, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156358 |
|  | Dassault Systemes SE | &nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;3511 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126650 |
| <sup>a</sup> | Descartes Systems Group, Inc. | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;6461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;655002 |
| <sup>a,b</sup> | Lumine Group, Inc. | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23661 |
| <sup>a</sup> | Palantir Technologies, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525514 |
| <sup>a</sup> | Palo Alto Networks, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;320466 |
| <sup>a</sup> | PTC, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280742 |
| <sup>a</sup> | Samsara, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;4254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169224 |
| <sup>a</sup> | Synopsys, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;740823 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5768471 |
|  | **Total Common Stocks (Cost $21,937,224)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33418593 |
|  | **Warrant 0.0%** |  |  |  |
|  | **Software 0.0%** |  |  |  |
| <sup>a,c</sup> | Constellation Software, Inc. | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | **Total Investments (Cost $21,937,224) 99.3%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33418593 |
|  | **Other Assets, less Liabilities 0.7%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233778 |
|  | **Net Assets 100.0%** |  |  | &nbsp;&nbsp;$33652371 |

---

---

| |
|:---|
| <sup>a</sup>Non-income producing. |
| <sup>b</sup>Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption from registration. At June 30, 2025, the value of this security was $23,661, representing 0.1% of net assets. |
| <sup>c</sup>Fair valued using significant unobservable inputs. See Note 5 regarding fair value measurements. |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

#### Abbreviations

---

| | |
|:---|:---|
| **Selected Portfolio** |  |
| **ADR** | American Depositary Receipt |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Franklin Investment Grade Corporate ETF** | &nbsp;&nbsp;**Country** | &nbsp;&nbsp;**Principal Amount\*** | &nbsp;&nbsp;**Value** |
|  | **Corporate Bonds & Notes 96.8%** |  |  |  |
|  | **Aerospace & Defense 2.8%** |  |  |  |
| <sup>a</sup> | BAE Systems PLC, 5.50%, 3/26/54 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp; 1900000 | &nbsp;&nbsp;$1877469 |
|  | Boeing Co., |  |  |  |
|  | 3.65%, 3/01/47 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2236724 |
|  | 6.528%, 5/01/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2717958 |
|  | General Dynamics Corp., |  |  |  |
|  | 2.85%, 6/01/41 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 880411 |
|  | 3.60%, 11/15/42 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2005509 |
|  | Howmet Aerospace, Inc., 5.95%, 2/01/37 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3718936 |
|  | Lockheed Martin Corp., 4.07%, 12/15/42 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1177214 |
|  | Northrop Grumman Corp., 4.95%, 3/15/53 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2429152 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17043373 |
|  | **Agriculture 0.7%** |  |  |  |
|  | Philip Morris International, Inc., 5.375%, 2/15/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;4200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4339118 |
|  | **Airlines 0.5%** |  |  |  |
| <sup>a</sup> | Delta Air Lines, Inc./SkyMiles IP Ltd., first lien, 4.50%, 10/20/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;985948 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;983696 |
|  | United Airlines Pass-Through Trust, |  |  |  |
|  | Series 2016-1, Class A, 3.45%, 1/07/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1389795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1329751 |
|  | Series 2020-1, Class B, 4.875%, 7/15/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 750170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 749303 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3062750 |
|  | **Apparel 0.1%** |  |  |  |
|  | Tapestry, Inc., 5.50%, 3/11/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;617700 |
|  | **Auto Manufacturers 1.1%** |  |  |  |
|  | Hyundai Capital America, |  |  |  |
|  | <sup>a</sup> 5.35%, 3/19/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4383230 |
|  | <sup>a</sup> 4.55%, 9/26/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1982664 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6365894 |
|  | **Banks 28.8%** |  |  |  |
|  | Banco Santander SA, 2.749%, 12/03/30 | &nbsp;&nbsp;Spain | &nbsp;&nbsp;&nbsp;&nbsp;1400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1247421 |
|  | Bank of America Corp., |  |  |  |
|  | 2.592% to 4/29/30, FRN thereafter, 4/29/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3950000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3612154 |
|  | 4.571% to 4/27/32, FRN thereafter, 4/27/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 6800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6693620 |
|  | 5.202% to 4/25/28, FRN thereafter, 4/25/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7665922 |
|  | 5.511% to 1/24/35, FRN thereafter, 1/24/36 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2622918 |
|  | 5.744% to 2/12/35, FRN thereafter, 2/12/36 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1474114 |
|  | Bank of New York Mellon Corp., 3.85%, 4/28/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;5600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5585300 |
|  | Barclays PLC, 5.086% to 2/25/28, FRN thereafter, 2/25/29 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;3350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3392244 |
| <sup>a</sup> | BPCE SA, 5.936% to 5/30/34, FRN thereafter, 5/30/35 | &nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;2150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2204217 |
|  | Citibank NA, 4.914%, 5/29/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;6500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6626376 |
|  | Citigroup, Inc., |  |  |  |
|  | 3.668% to 7/24/27, FRN thereafter, 7/24/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 6600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6498152 |
|  | 3.057% to 1/25/32, FRN thereafter, 1/25/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3352547 |
| <sup>a</sup> | Credit Agricole SA, 5.134%, 3/11/27 | &nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;2975000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3020836 |
| <sup>a</sup> | Danske Bank AS, 5.427% to 3/01/27, FRN thereafter, 3/01/28 | &nbsp;&nbsp;Denmark | &nbsp;&nbsp;&nbsp;&nbsp;3050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3103666 |
|  | Deutsche Bank AG, 2.129% to 11/24/25, FRN thereafter, 11/24/26 | &nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;2475000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2450170 |
|  | Goldman Sachs Group, Inc., |  |  |  |
|  | 2.64% to 2/24/27, FRN thereafter, 2/24/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9715283 |
|  | 5.33% to 7/23/34, FRN thereafter, 7/23/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5550211 |
|  | 5.218% to 4/23/30, FRN thereafter, 4/23/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1025431 |
|  | Huntington Bancshares, Inc., 5.272% to 1/15/30, FRN thereafter, 1/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2049806 |
|  | JPMorgan Chase & Co., |  |  |  |
|  | 2.522% to 4/22/30, FRN thereafter, 4/22/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5258553 |
|  | 2.963% to 1/25/32, FRN thereafter, 1/25/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7192747 |
|  | 4.851% to 7/25/27, FRN thereafter, 7/25/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2526545 |
|  | 6.087% to 10/23/28, FRN thereafter, 10/23/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 6130000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6444019 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Mitsubishi UFJ Financial Group, Inc., 5.159% to 4/24/30, FRN thereafter, 4/24/31 | &nbsp;&nbsp;Japan | &nbsp;&nbsp; 2070000 | &nbsp;&nbsp; 2120133 |
|  | Mizuho Financial Group, Inc., 5.778% to 7/06/28, FRN thereafter, 7/06/29 | &nbsp;&nbsp;Japan | &nbsp;&nbsp; 3150000 | &nbsp;&nbsp; 3271507 |
|  | Morgan Stanley, |  |  |  |
|  | 1.794% to 2/13/31, FRN thereafter, 2/13/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 8225000 | &nbsp;&nbsp; 7039023 |
|  | 5.25% to 4/21/33, FRN thereafter, 4/21/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5088118 |
|  | 5.449% to 7/20/28, FRN thereafter, 7/20/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1850000 | &nbsp;&nbsp; 1902940 |
|  | 5.192% to 4/17/30, FRN thereafter, 4/17/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2563435 |
| <sup>a</sup> | National Australia Bank Ltd., 2.332%, 8/21/30 | &nbsp;&nbsp;Australia | &nbsp;&nbsp; 3350000 | &nbsp;&nbsp; 2969726 |
|  | NatWest Group PLC, 4.964% to 8/15/29, FRN thereafter, 8/15/30 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp; 2950000 | &nbsp;&nbsp; 2984806 |
|  | PNC Financial Services Group, Inc., |  |  |  |
|  | 6.615% to 10/20/26, FRN thereafter, 10/20/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 6700000 | &nbsp;&nbsp; 6889504 |
|  | 5.222% to 1/29/30, FRN thereafter, 1/29/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3800000 | &nbsp;&nbsp; 3900693 |
|  | Royal Bank of Canada, 4.97% to 5/02/30, FRN thereafter, 5/02/31 | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;2850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2893615 |
|  | Truist Financial Corp., 7.161% to 10/30/28, FRN thereafter, 10/30/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;4620000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4998286 |
|  | U.S. Bancorp, 5.10% to 7/23/29, FRN thereafter, 7/23/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;4420000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4512657 |
|  | UBS Group AG, |  |  |  |
|  | <sup>a</sup> 3.869% to 1/12/28, FRN thereafter, 1/12/29 | &nbsp;&nbsp;Switzerland | &nbsp;&nbsp; 5500000 | &nbsp;&nbsp; 5416331 |
|  | <sup>a</sup> 5.428% to 2/08/29, FRN thereafter, 2/08/30 | &nbsp;&nbsp;Switzerland | &nbsp;&nbsp; 3400000 | &nbsp;&nbsp; 3492622 |
|  | Wells Fargo & Co., |  |  |  |
|  | 4.808% to 7/25/27, FRN thereafter, 7/25/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 7050000 | &nbsp;&nbsp; 7110679 |
|  | 5.574% to 7/25/28, FRN thereafter, 7/25/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3050000 | &nbsp;&nbsp; 3149747 |
|  | 5.198% to 1/22/29, FRN thereafter, 1/23/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2820000 | &nbsp;&nbsp; 2889115 |
|  |  |  |  | &nbsp;&nbsp;172505189 |
|  | **Beverages 0.6%** |  |  |  |
|  | Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc., 4.90%, 2/01/46 | &nbsp;&nbsp;Belgium | &nbsp;&nbsp;&nbsp;&nbsp;2100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1926483 |
|  | Anheuser-Busch InBev Worldwide, Inc., 5.80%, 1/23/59 | &nbsp;&nbsp;Belgium | &nbsp;&nbsp;&nbsp;&nbsp;1700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1742657 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3669140 |
|  | **Biotechnology 3.0%** |  |  |  |
|  | Amgen, Inc., 5.60%, 3/02/43 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;4705000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4670325 |
|  | Bio-Rad Laboratories, Inc., 3.30%, 3/15/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3532077 |
| <sup>a</sup> | CSL Finance PLC, 4.25%, 4/27/32 | &nbsp;&nbsp;Australia | &nbsp;&nbsp;&nbsp;&nbsp;4200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4102947 |
|  | Illumina, Inc., 5.80%, 12/12/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1004375 |
|  | Regeneron Pharmaceuticals, Inc., 2.80%, 9/15/50 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2987751 |
|  | Royalty Pharma PLC, 3.35%, 9/02/51 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1816150 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;18113625 |
|  | **Chemicals 1.5%** |  |  |  |
|  | DuPont de Nemours, Inc., 5.319%, 11/15/38 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1640000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1699047 |
|  | Huntsman International LLC, 2.95%, 6/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2779401 |
| <sup>a</sup> | Syensqo Finance America LLC, 5.65%, 6/04/29 | &nbsp;&nbsp;Belgium | &nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2594819 |
|  | Westlake Corp., 3.125%, 8/15/51 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1729118 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8802385 |
|  | **Commercial Services & Supplies 0.9%** |  |  |  |
| <sup>a</sup> | Ashtead Capital, Inc., 5.80%, 4/15/34 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3071948 |
|  | Global Payments, Inc., 5.40%, 8/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2246877 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5318825 |
|  | **Construction Materials 0.4%** |  |  |  |
|  | Martin Marietta Materials, Inc., 5.15%, 12/01/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2625000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2638996 |
|  | **Diversified REITs 1.1%** |  |  |  |
|  | Essex Portfolio LP, 2.65%, 3/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3025000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2645967 |
|  | Simon Property Group LP, 3.375%, 12/01/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;4100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4027358 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6673325 |
|  | **Electric 2.7%** |  |  |  |
|  | Baltimore Gas & Electric Co., 4.55%, 6/01/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2017980 |
|  | Constellation Energy Generation LLC, 6.50%, 10/01/53 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1950000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2095339 |
|  | Consumers Energy Co., 4.05%, 5/15/48 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1208075 |
|  | DTE Electric Co., Series B, 3.65%, 3/01/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2064413 |
|  | Pacific Gas & Electric Co., 3.30%, 8/01/40 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358075 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Virginia Electric & Power Co., |  |  |  |
|  | Series D, 4.65%, 8/15/43 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3082082 |
|  | Series A, 3.50%, 3/15/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3463718 |
| <sup>a</sup> | Vistra Operations Co. LLC, 5.05%, 12/30/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2011028 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;16300710 |
|  | **Electric Utilities 3.2%** |  |  |  |
|  | Commonwealth Edison Co., 4.00%, 3/01/48 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1650000 | &nbsp;&nbsp; 1310303 |
|  | Duke Energy Progress LLC, 2.50%, 8/15/50 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5750000 | &nbsp;&nbsp; 3332038 |
| <sup>a</sup> | EDP Finance BV, 1.71%, 1/24/28 | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp; 2900000 | &nbsp;&nbsp; 2713873 |
| <sup>a</sup> | Enel Finance International NV, 3.625%, 5/25/27 | &nbsp;&nbsp;Italy | &nbsp;&nbsp;&nbsp;&nbsp;3300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3259695 |
|  | Georgia Power Co., |  |  |  |
|  | Series 2010-C, 4.75%, 9/01/40 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4700000 | &nbsp;&nbsp; 4377934 |
|  | 4.30%, 3/15/42 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1550000 | &nbsp;&nbsp; 1339186 |
|  | MidAmerican Energy Co., 4.25%, 5/01/46 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1286681 |
|  | Public Service Electric & Gas Co., 3.15%, 1/01/50 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1364615 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;18984325 |
|  | **Electronic Equipment, Instruments & Components 0.2%** |  |  |  |
|  | Flex Ltd., 3.75%, 2/01/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;993591 |
|  | **Financial Services 1.2%** |  |  |  |
|  | American Express Co., 5.016% to 4/25/30, FRN thereafter, 4/25/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1925000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1966142 |
|  | BlackRock Funding, Inc., 5.25%, 3/14/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1583931 |
|  | Capital One Financial Corp., |  |  |  |
|  | 4.985% to 7/24/25, FRN thereafter, 7/24/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1399958 |
|  | 6.183% to 1/30/35, FRN thereafter, 1/30/36 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp; 2444401 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7394432 |
|  | **Food 2.3%** |  |  |  |
|  | JBS USA Holding Lux SARL/JBS USA Food Co./JBS Lux Co. SARL, |  |  |  |
|  | 2.50%, 1/15/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1946796 |
|  | 3.625%, 1/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3685000 | &nbsp;&nbsp; 3373911 |
| <sup>a,b</sup> | JBS USA Holding Lux SARL/JBS USA Foods Group Holdings, Inc./JBS USA Food Co., 5.50%, 1/15/36 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2104400 |
|  | Kellanova, 4.50%, 4/01/46 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;445000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;381483 |
|  | Mars, Inc., |  |  |  |
|  | <sup>a</sup> 2.375%, 7/16/40 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1410000 | &nbsp;&nbsp; 989313 |
|  | <sup>a</sup> 5.70%, 5/01/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 998270 |
|  | McCormick & Co., Inc., 1.85%, 2/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2169547 |
|  | Pilgrim's Pride Corp., 3.50%, 3/01/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1802405 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;13766125 |
|  | **Gas 1.2%** |  |  |  |
|  | Piedmont Natural Gas Co., Inc., 5.05%, 5/15/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1506454 |
|  | Southern California Gas Co., 5.60%, 4/01/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2924642 |
|  | Southern Co. Gas Capital Corp., 4.95%, 9/15/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2975051 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7406147 |
|  | **Health Care Providers & Services 5.3%** |  |  |  |
|  | Ascension Health, Series B, 2.532%, 11/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;4100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3823986 |
|  | Centene Corp., 4.25%, 12/15/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3005691 |
|  | Cigna Group, 3.20%, 3/15/40 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2413774 |
|  | Elevance Health, Inc., 4.10%, 5/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1969393 |
|  | HCA, Inc., 4.50%, 2/15/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;4600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4601922 |
|  | Icon Investments Six DAC, 6.00%, 5/08/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1533804 |
|  | IQVIA, Inc., 6.25%, 2/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2405434 |
|  | Kaiser Foundation Hospitals, Series 2021, 3.002%, 6/01/51 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1297146 |
|  | Mayo Clinic, Series 2021, 3.196%, 11/15/61 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1243629 |
| <sup>a</sup> | Roche Holdings, Inc., 2.607%, 12/13/51 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2440000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1492806 |
|  | Sutter Health, 5.164%, 8/15/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2538371 |
|  | UnitedHealth Group, Inc., |  |  |  |
|  | 3.05%, 5/15/41 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5950000 | &nbsp;&nbsp; 4375794 |
|  | 5.30%, 6/15/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1155000 | &nbsp;&nbsp; 1177647 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;31879397 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Healthcare-Products 0.7%** |  |  |  |
|  | Baxter International, Inc., 2.539%, 2/01/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3150000 | &nbsp;&nbsp; 2746702 |
|  | Thermo Fisher Scientific, Inc., 5.404%, 8/10/43 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1175000 | &nbsp;&nbsp; 1164517 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3911219 |
|  | **Home Builders 0.3%** |  |  |  |
|  | DR Horton, Inc., 5.00%, 10/15/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1750000 | &nbsp;&nbsp; 1731284 |
|  | **Household Products 0.8%** |  |  |  |
|  | Haleon U.S. Capital LLC, 3.375%, 3/24/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5100000 | &nbsp;&nbsp; 5027834 |
|  | **Insurance 4.5%** |  |  |  |
|  | Arch Capital Group U.S., Inc., 5.144%, 11/01/43 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2234072 |
|  | Arthur J Gallagher & Co., |  |  |  |
|  | 5.75%, 3/02/53 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp; 1219072 |
|  | 6.50%, 2/15/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2747732 |
|  | Athene Holding Ltd., 6.625%, 5/19/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1804825 |
|  | Berkshire Hathaway Finance Corp., 3.85%, 3/15/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1858748 |
|  | Brown & Brown, Inc., 2.375%, 3/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3391616 |
| <sup>a</sup> | Empower Finance 2020 LP, 1.776%, 3/17/31 | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;3025000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2653078 |
| <sup>a</sup> | Jackson National Life Global Funding, 5.55%, 7/02/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2143618 |
|  | Marsh & McLennan Cos., Inc., 5.40%, 3/15/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1929070 |
| <sup>a</sup> | MassMutual Global Funding II, 5.05%, 12/07/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2347340 |
| <sup>a</sup> | Nippon Life Insurance Co., 6.50% to 4/30/35, FRN thereafter, 4/30/55 | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1553904 |
| <sup>a</sup> | Pricoa Global Funding I, 5.10%, 5/30/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3068951 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;26952026 |
|  | **Internet 1.8%** |  |  |  |
|  | Amazon.com, Inc., 2.875%, 5/12/41 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;5250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3920587 |
|  | Meta Platforms, Inc., 4.45%, 8/15/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3079585 |
|  | Netflix, Inc., |  |  |  |
|  | <sup>a</sup> 4.875%, 6/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp; 2456463 |
|  | 5.40%, 8/15/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1650000 | &nbsp;&nbsp; 1629614 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;11086249 |
|  | **IT Services 0.8%** |  |  |  |
|  | Apple, Inc., 2.80%, 2/08/61 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1479706 |
|  | Hewlett Packard Enterprise Co., 4.45%, 9/25/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3256134 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4735840 |
|  | **Lodging 0.4%** |  |  |  |
|  | Marriott International, Inc., |  |  |  |
|  | Series R, 3.125%, 6/15/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 988110 |
|  | Series GG, 3.50%, 10/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp; 1637195 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2625305 |
|  | **Machinery-Construction & Mining 0.5%** |  |  |  |
|  | Caterpillar, Inc., 5.20%, 5/15/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2906658 |
|  | **Machinery-Diversified 0.3%** |  |  |  |
|  | Ingersoll Rand, Inc., 5.176%, 6/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1540461 |
|  | **Media 3.1%** |  |  |  |
|  | Charter Communications Operating LLC/Charter Communications Operating Capital, |  |  |  |
|  | 2.80%, 4/01/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp; 1070452 |
|  | 5.375%, 4/01/38 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2900000 | &nbsp;&nbsp; 2734591 |
|  | 3.50%, 3/01/42 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3150000 | &nbsp;&nbsp; 2247464 |
|  | Comcast Corp., |  |  |  |
|  | 4.95%, 10/15/58 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp; 1544168 |
|  | 3.75%, 4/01/40 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 2990445 |
|  | Fox Corp., 6.50%, 10/13/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3030440 |
|  | Paramount Global, 4.95%, 1/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4863478 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;18481038 |
|  | **Mining 0.3%** |  |  |  |
|  | Newmont Corp./Newcrest Finance Pty. Ltd., 5.35%, 3/15/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1642409 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Miscellaneous Manufacturing 0.5%** |  |  |  |
| <sup>a</sup> | Siemens Funding BV, 5.80%, 5/28/55 | &nbsp;&nbsp;Germany | &nbsp;&nbsp; 2650000 | &nbsp;&nbsp; 2729051 |
|  | **Multi-Utilities 0.2%** |  |  |  |
|  | Berkshire Hathaway Energy Co., 5.15%, 11/15/43 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1410343 |
|  | **Oil & Gas 2.7%** |  |  |  |
|  | Aker BP ASA, |  |  |  |
|  | <sup>a</sup> 4.00%, 1/15/31 | &nbsp;&nbsp;Norway | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp; 1995597 |
|  | <sup>a</sup> 5.80%, 10/01/54 | &nbsp;&nbsp;Norway | &nbsp;&nbsp; 1450000 | &nbsp;&nbsp; 1323367 |
|  | BP Capital Markets America, Inc., 4.812%, 2/13/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2320000 | &nbsp;&nbsp; 2317806 |
|  | Canadian Natural Resources Ltd., 3.85%, 6/01/27 | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;2200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2179268 |
|  | Exxon Mobil Corp., 3.567%, 3/06/45 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1918948 |
|  | Hess Corp., 5.60%, 2/15/41 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1925000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1913303 |
|  | TotalEnergies Capital SA, 5.275%, 9/10/54 | &nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;2800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2623850 |
| <sup>a</sup> | Var Energi ASA, 7.50%, 1/15/28 | &nbsp;&nbsp;Norway | &nbsp;&nbsp;&nbsp;&nbsp;1650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1747875 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;16020014 |
|  | **Oil, Gas & Consumable Fuels 0.3%** |  |  |  |
|  | Sabine Pass Liquefaction LLC, 4.20%, 3/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1989884 |
|  | **Pharmaceuticals 3.5%** |  |  |  |
|  | AbbVie, Inc., 5.40%, 3/15/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3113788 |
| <sup>a</sup> | Bayer U.S. Finance II LLC, 4.375%, 12/15/28 | &nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;3150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3121439 |
|  | Bristol-Myers Squibb Co., |  |  |  |
|  | 4.125%, 6/15/39 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1335679 |
|  | 3.70%, 3/15/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1093680 |
|  | CVS Health Corp., |  |  |  |
|  | 5.30%, 12/05/43 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4600000 | &nbsp;&nbsp; 4180233 |
|  | 5.25%, 1/30/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1450000 | &nbsp;&nbsp; 1483567 |
|  | Eli Lilly & Co., 4.95%, 2/27/63 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2273327 |
|  | Novartis Capital Corp., 3.70%, 9/21/42 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2175000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1786787 |
|  | Pfizer Investment Enterprises Pte. Ltd., 5.30%, 5/19/53 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2361886 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;20750386 |
|  | **Pipelines 2.7%** |  |  |  |
| <sup>a</sup> | DT Midstream, Inc., 5.80%, 12/15/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1325041 |
|  | Eastern Gas Transmission & Storage, Inc., 3.90%, 11/15/49 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2166033 |
|  | Energy Transfer LP, |  |  |  |
|  | 5.15%, 3/15/45 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4800000 | &nbsp;&nbsp; 4234364 |
|  | 6.05%, 12/01/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3200000 | &nbsp;&nbsp; 3268392 |
|  | Targa Resources Partners LP/Targa Resources Partners Finance Corp., 4.00%, 1/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;4100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3823383 |
|  | Williams Cos., Inc., 5.30%, 9/30/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1502345 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;16319558 |
|  | **Real Estate Investment Trusts (REITs) 0.4%** |  |  |  |
|  | Alexandria Real Estate Equities, Inc., 2.95%, 3/15/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2235017 |
|  | **Real Estate Management & Development 0.4%** |  |  |  |
| <sup>a</sup> | VICI Properties LP/VICI Note Co., Inc., 4.125%, 8/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2688684 |
|  | **Retail 2.0%** |  |  |  |
| <sup>a</sup> | 7-Eleven, Inc., 1.30%, 2/10/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3240000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2989034 |
|  | Dick's Sporting Goods, Inc., 4.10%, 1/15/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1430564 |
|  | Home Depot, Inc., 3.625%, 4/15/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;4900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3570085 |
|  | Lowe's Cos., Inc., 3.00%, 10/15/50 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1970048 |
|  | McDonald's Corp., 3.625%, 9/01/49 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1742548 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;11702279 |
|  | **Semiconductors 1.4%** |  |  |  |
|  | Analog Devices, Inc., 2.80%, 10/01/41 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1529175 |
| <sup>a</sup> | Foundry JV Holdco LLC, 5.90%, 1/25/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4150440 |
|  | Marvell Technology, Inc., 5.95%, 9/15/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2852656 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8532271 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Software 3.2%** |  |  |  |
|  | Intuit, Inc., 5.50%, 9/15/53 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1350000 | &nbsp;&nbsp; 1341451 |
|  | Microsoft Corp., 2.675%, 6/01/60 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 1479651 |
|  | Oracle Corp., |  |  |  |
|  | 2.30%, 3/25/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 4272010 |
|  | 3.60%, 4/01/40 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp; 3604250 |
|  | Paychex, Inc., 5.35%, 4/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp; 2260038 |
|  | Salesforce, Inc., 2.90%, 7/15/51 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2450000 | &nbsp;&nbsp; 1569503 |
|  | ServiceNow, Inc., 1.40%, 9/01/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2167491 |
|  | Synopsys, Inc., 5.70%, 4/01/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2487413 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;19181807 |
|  | **Telecommunications 5.8%** |  |  |  |
|  | AT&T, Inc., 3.50%, 6/01/41 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;9200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7222336 |
|  | Cisco Systems, Inc., 5.30%, 2/26/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2620611 |
|  | Motorola Solutions, Inc., 5.60%, 6/01/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;4500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4691220 |
|  | Rogers Communications, Inc., 4.55%, 3/15/52 | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1630081 |
| <sup>a</sup> | Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint Spectrum Co. III LLC, 5.152%, 9/20/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2915000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2936052 |
|  | T-Mobile USA, Inc., |  |  |  |
|  | 2.875%, 2/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 6374383 |
|  | 5.30%, 5/15/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2850000 | &nbsp;&nbsp; 2886809 |
|  | Verizon Communications, Inc., 3.40%, 3/22/41 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;5700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4399113 |
|  | Vodafone Group PLC, |  |  |  |
|  | 4.25%, 9/17/50 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp; 1900000 | &nbsp;&nbsp; 1482052 |
|  | 5.75%, 6/28/54 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 479390 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;34722047 |
|  | **Transportation 1.3%** |  |  |  |
|  | Burlington Northern Santa Fe LLC, 5.75%, 5/01/40 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;5850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6131221 |
| <sup>a</sup> | FedEx Corp., 4.75%, 11/15/45 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1668293 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7799514 |
|  | **Trucking & Leasing 1.3%** |  |  |  |
|  | AerCap Ireland Capital DAC/AerCap Global Aviation Trust, 3.00%, 10/29/28 | &nbsp;&nbsp;Ireland | &nbsp;&nbsp;&nbsp;&nbsp;5400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5146121 |
| <sup>a</sup> | SMBC Aviation Capital Finance DAC, 1.90%, 10/15/26 | &nbsp;&nbsp;Ireland | &nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2898923 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8045044 |
|  | **Total Corporate Bonds & Notes (Cost $599,774,883)** |  |  | &nbsp;&nbsp;580641269 |
|  | **U.S. Government & Agency Securities 1.5%** |  |  |  |
|  | U.S. Treasury Bonds, 4.625%, 11/15/44 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1570000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1537373 |
|  | U.S. Treasury Notes, |  |  |  |
|  | 3.875%, 6/30/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1003867 |
|  | 4.25%, 5/15/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5900000 | &nbsp;&nbsp; 5909680 |
|  | 4.625%, 2/15/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 619219 |
|  | **Total U.S. Government & Agency Securities (Cost $9,019,803)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9070139 |
|  | **Total Investments before Short-Term Investments (Cost $608,794,686)** |  |  | &nbsp;&nbsp;589711408 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Short-Term Investments 1.4%** |  |  |  |
|  | **U.S. Government & Agency Securities 1.4%** |  |  |  |
| <sup>c</sup> | Federal Home Loan Bank Discount Notes, 4.158%, 07/01/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 8450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8449024 |
|  | **Total Short-Term Investments (Cost $8,450,000)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8449024 |
|  | **Total Investments (Cost $617,244,686) 99.7%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;598160432 |
|  | **Other Assets, less Liabilities 0.3%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1545045 |
|  | **Net Assets 100.0%** |  |  | &nbsp;&nbsp;$599705477 |

---

---

| |
|:---|
| \*The principal amount is stated in U.S. dollars unless otherwise indicated. |
| <sup>a</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional buyers or in a public offering registered under the Securities Act of 1933. At June 30, 2025, the aggregate value of these securities was $96,570,706, representing 16.1% of net assets. |
| <sup>b</sup>Security purchased on a when-issued basis. |
| <sup>c</sup>The rate shown represents the yield at period end. |

---

#### Abbreviations

---

| | |
|:---|:---|
| **Selected Portfolio** |  |
| **FRN** | Floating Rate Note |
| **REIT** | Real Estate Investment Trust |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | |
|:---|:---|:---|:---|
| | **Franklin Municipal Green Bond ETF** | &nbsp;&nbsp;**Principal Amount\*** | **Value** |
|  | **Municipal Bonds 97.6%** |  |  |
|  | **Alabama 0.3%** |  |  |
| <sup>a</sup> | County of Mobile, Gomesa Projects, 4.00%, 11/01/45 | &nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;$257962 |
|  | **Arizona 0.4%** |  |  |
|  | City of Phoenix Civic Improvement Corp., Water System Revenue, 5.00%, 7/01/44 | &nbsp;&nbsp;360000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;368140 |
|  | **Arkansas 0.6%** |  |  |
|  | Arkansas Development Finance Authority, |  |  |
|  | <sup>a</sup> Hybar LLC, AMT, 6.875%, 7/01/48 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; 268475 |
|  | United States Steel Corp, AMT, 5.70%, 5/01/53 | &nbsp;&nbsp; 275000 | &nbsp;&nbsp;&nbsp; 278865 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;547340 |
|  | **California 29.5%** |  |  |
|  | Alameda Community Facilities District, 5.00%, 9/01/48 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;999764 |
|  | California Community Choice Financing Authority, |  |  |
|  | <sup>b</sup> VRDN, 5.00%, 12/01/53 | &nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp; 2612186 |
|  | <sup>b</sup> VRDN, 5.00%, 2/01/54 | &nbsp;&nbsp;3500000 | &nbsp;&nbsp;&nbsp; 3685605 |
|  | <sup>b</sup> VRDN, 5.25%, 1/01/54 | &nbsp;&nbsp;3160000 | &nbsp;&nbsp;&nbsp; 3312948 |
|  | <sup>b</sup> VRDN, 5.25%, 11/01/54 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 530108 |
|  | <sup>b</sup> VRDN, 5.50%, 10/01/54 | &nbsp;&nbsp; 995000 | &nbsp;&nbsp;&nbsp; 1067307 |
|  | California Housing Finance Agency, Lakeside Drive Senior Housing LP, Series 2019, 2.35%, 12/01/35 | &nbsp;&nbsp;90767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76454 |
|  | California Infrastructure & Economic Development Bank, |  |  |
|  | California Science Center Foundation, 4.00%, 5/01/46 | &nbsp;&nbsp; 805000 | &nbsp;&nbsp;&nbsp; 707438 |
|  | California Science Center Foundation, 4.00%, 5/01/51 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp; 842252 |
|  | California State Teachers' Retirement System, 5.00%, 8/01/49 | &nbsp;&nbsp; 180000 | &nbsp;&nbsp;&nbsp; 180941 |
|  | California Municipal Finance Authority, |  |  |
|  | CHF-Davis I LLC, 5.00%, 5/15/51 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp; 951448 |
|  | CHF-Davis II LLC, 4.00%, 5/15/39 | &nbsp;&nbsp;3445000 | &nbsp;&nbsp;&nbsp; 3387212 |
|  | CHF-Riverside II LLC, 5.00%, 5/15/37 | &nbsp;&nbsp;1495000 | &nbsp;&nbsp;&nbsp; 1535181 |
| <sup>a</sup> | California School Finance Authority, River Springs Charter School Inc, 5.75%, 7/01/42 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255941 |
|  | California State Public Works Board, |  |  |
|  | California Air Resources Board, Series 2022D, 4.00%, 5/01/44 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp; 931286 |
|  | Series D, 4.00%, 5/01/47 | &nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp; 1361149 |
|  | City of Foster City, Levee Protection Planning, 4.00%, 8/01/32 | &nbsp;&nbsp;135000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136506 |
|  | City of Los Angeles Department of Airports Customer Facility Charge Revenue, Department of Airports Customer Facility Charge Revenue, 4.058%, 5/15/37 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900381 |
|  | City of San Francisco Public Utilities Commission Water Revenue, Green Bond, Refunding, Series 2020A, 4.00%, 11/01/50 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87870 |
|  | Peninsula Corridor Joint Powers Board Measure RR Sales Tax Revenue, Series A, 5.00%, 6/01/42 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;1052599 |
|  | Perris Joint Powers Authority, Refunding, Series 2017B, 5.00%, 9/01/37 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101514 |
|  | San Diego County Regional Airport Authority, AMT, Series B, 5.00%, 7/01/51 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;1983264 |
|  | San Francisco Bay Area Rapid Transit District, Green Bond, 3.00%, 8/01/36 | &nbsp;&nbsp;170000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155622 |
|  | Santa Cruz County Capital Financing Authority, Sanitation District Green Bond, 4.00%, 6/01/42 | &nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;1445835 |
|  | Three Rivers Levee Improvement Authority, |  |  |
|  | Community Facilities District No. 2006-1, Refunding, 4.00%, 9/01/27 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; 252853 |
|  | Community Facilities District No. 2006-1, Refunding, 4.00%, 9/01/29 | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; 254081 |
|  | Community Facilities District No. 2006-1, Refunding, 4.00%, 9/01/31 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp; 201452 |
|  | Community Facilities District No. 2006-1, Refunding, 4.00%, 9/01/32 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp; 99904 |
|  | Transbay Joint Powers Authority, Redevelopment Project Green Bond Senior Tax, 5.00%, 10/01/34 | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154937 |
|  |  |  | &nbsp;&nbsp;&nbsp;29264038 |
|  | **Colorado 1.7%** |  |  |
|  | Board of Water Commissioners City & County of Denver, Green Bond, Series 2017A, 5.00%, 9/15/47 | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152296 |
| <sup>b</sup> | University of Colorado, Refunding, VRDN, 2.00%, 6/01/51 | &nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;1492585 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;1644881 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **District of Columbia 4.0%** |  |  |
|  | District of Columbia, |  |  |
|  | Plenary Infrastructure DC LLC, AMT, 5.50%, 8/31/33 | &nbsp;&nbsp; 905000 | 1006645 |
|  | Plenary Infrastructure DC LLC, AMT, 5.50%, 2/28/35 | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp;222638 |
|  | Plenary Infrastructure DC LLC, AMT, 5.50%, 2/28/37 | &nbsp;&nbsp; 845000 | &nbsp;&nbsp;&nbsp;&nbsp;932914 |
|  | Plenary Infrastructure DC LLC, AMT, Series A, 5.50%, 8/31/35 | &nbsp;&nbsp; 95000 | &nbsp;&nbsp;&nbsp;&nbsp;105675 |
|  | District of Columbia Water & Sewer Authority, |  |  |
|  | Green Bond, Sub Series 2019A, 5.00%, 10/01/44 | &nbsp;&nbsp; 340000 | &nbsp;&nbsp;&nbsp;&nbsp;345996 |
|  | Sub Series 2019A, 4.00%, 10/01/49 | &nbsp;&nbsp;1565000 | 1373984 |
|  |  |  | &nbsp;&nbsp;&nbsp;3987852 |
|  | **Florida 1.5%** |  |  |
|  | Babcock Ranch Community Independent Special District, Assessment Area 3A, Special Assessment, 4.00%, 5/01/40 | &nbsp;&nbsp;840000 | &nbsp;&nbsp;&nbsp;&nbsp;766320 |
|  | City of Tampa, Lower Basis Stormwater Improvement, Special Assessment, 5.00%, 5/01/36 | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;156039 |
|  | County of Palm Beach Water & Sewer Revenue, Reclaimed Water Project, Refunding, 4.00%, 10/01/31 | &nbsp;&nbsp;105000 | &nbsp;&nbsp;&nbsp;&nbsp;109662 |
|  | Somerset Community Development District, |  |  |
|  | Special Assessment, Refunding, 4.00%, 5/01/32 | &nbsp;&nbsp; 415000 | &nbsp;&nbsp;&nbsp;&nbsp;406970 |
|  | Special Assessment, Refunding, Series 2022, 4.20%, 5/01/37 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93415 |
|  |  |  | &nbsp;&nbsp;&nbsp;1532406 |
|  | **Georgia 2.6%** |  |  |
|  | City of Atlanta Airport Passenger Facility Charge, Airport Passenger Facility Charge, AMT, 5.25%, 7/01/43 | &nbsp;&nbsp;1350000 | &nbsp;&nbsp;&nbsp;1388049 |
|  | Private Colleges & Universities Authority, Emory University, Refunding, 5.00%, 9/01/48 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;100722 |
| <sup>b</sup> | Roswell Development Authority, WellStar Health System Obligated Group, VRDN, Series A, 3.90%, 4/01/47 | &nbsp;&nbsp;1100000 | &nbsp;&nbsp;&nbsp;1100000 |
|  |  |  | &nbsp;&nbsp;&nbsp;2588771 |
|  | **Illinois 4.2%** |  |  |
|  | Illinois Finance Authority, |  |  |
|  | State of Illinois Water Revolving Fund - Clean Water Program, 4.00%, 7/01/38 | &nbsp;&nbsp; 575000 | &nbsp;&nbsp;&nbsp;&nbsp;560597 |
|  | University of Illinois, 5.25%, 10/01/53 | &nbsp;&nbsp;3000000 | 3044498 |
|  | Northern Illinois University, 5.50%, 4/01/49 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;515570 |
|  |  |  | &nbsp;&nbsp;&nbsp;4120665 |
|  | **Louisiana 3.0%** |  |  |
|  | Louisiana Local Government Environmental Facilities & Community Development Authority, |  |  |
|  | <sup>a</sup> Parish of St Bernard LA, 4.00%, 11/01/45 | &nbsp;&nbsp; 900000 | &nbsp;&nbsp;&nbsp;&nbsp;774909 |
|  | <sup>a</sup> Parish of St Charles LA, 4.50%, 11/01/47 | &nbsp;&nbsp; 900000 | &nbsp;&nbsp;&nbsp;&nbsp;838048 |
|  | <sup>a</sup> Parish of St John the Baptist LA, 3.90%, 11/01/44 | &nbsp;&nbsp; 405000 | &nbsp;&nbsp;&nbsp;&nbsp;344807 |
|  | Terrebonne Levee & Conservation District Sales Tax Revenue, |  |  |
|  | Refunding, Refunding, Series B, 4.00%, 6/01/40 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94346 |
|  | Refunding, Series B, 4.00%, 6/01/39 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;959358 |
|  |  |  | &nbsp;&nbsp;&nbsp;3011468 |
|  | **Maine 0.2%** |  |  |
|  | City of Portland General Airport Revenue, Green Bond, Refunding, 4.00%, 1/01/35 | &nbsp;&nbsp;245000 | &nbsp;&nbsp;&nbsp;&nbsp;245314 |
|  | **Maryland 3.5%** |  |  |
|  | Maryland Economic Development Corp., |  |  |
|  | Purple Line Transit Partners LLC, AMT, 5.00%, 6/30/40 | &nbsp;&nbsp;1000000 | 1000312 |
|  | Purple Line Transit Partners LLC, AMT, 5.25%, 6/30/47 | &nbsp;&nbsp;2000000 | 1990334 |
|  | Maryland Health & Higher Educational Facilities Authority, Adventist Healthcare Obligated Group, Refunding, 4.00%, 1/01/30 | &nbsp;&nbsp;365000 | &nbsp;&nbsp;&nbsp;&nbsp;370612 |
|  | Washington Suburban Sanitary Commission, Green Bond, 3.00%, 6/01/35 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93284 |
|  |  |  | &nbsp;&nbsp;&nbsp;3454542 |
|  | **Massachusetts 3.5%** |  |  |
|  | Massachusetts Development Finance Agency, |  |  |
|  | Boston Medical Center Corp. Obligated Group, 4.00%, 7/01/47 | &nbsp;&nbsp; 135000 | &nbsp;&nbsp;&nbsp;&nbsp;113332 |
|  | Springfield College, Green Bond, 5.00%, 6/01/26 | &nbsp;&nbsp; 420000 | &nbsp;&nbsp;&nbsp;&nbsp;424233 |
|  | Springfield College, Green Bond, 5.00%, 6/01/27 | &nbsp;&nbsp; 440000 | &nbsp;&nbsp;&nbsp;&nbsp;442176 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | Massachusetts Housing Finance Agency, |  |  |
|  | Series A-1, 4.90%, 12/01/59 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;985202 |
|  | Sustainability Bond, Series 2019C-1, 2.65%, 12/01/34 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84630 |
|  | Sustainability Bond, Series 2021B-1, 2.60%, 12/01/41 | &nbsp;&nbsp;2000000 | 1449378 |
|  |  |  | &nbsp;&nbsp;&nbsp;3498951 |
|  | **Minnesota 1.6%** |  |  |
|  | City of Minneapolis, Green Bond, 3.00%, 12/01/40 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82378 |
|  | Minnesota Higher Education Facilities Authority, University of St Thomas/Minneapolis, Series A, 5.00%, 10/01/52 | &nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;1499515 |
|  |  |  | &nbsp;&nbsp;&nbsp;1581893 |
|  | **Mississippi 0.4%** |  |  |
| <sup>a</sup> | Mississippi Development Bank, County of Jackson Project, 3.625%, 11/01/36 | &nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;363384 |
|  | **New Jersey 3.6%** |  |  |
|  | City of Newark Mass Transit Access Tax Revenue, Mulberry Pedestrian Bridge, 6.00%, 11/15/62 | &nbsp;&nbsp;1460000 | &nbsp;&nbsp;&nbsp;1596965 |
|  | New Jersey Educational Facilities Authority, Stevens Institute of Technology, Series A, 5.00%, 7/01/32 | &nbsp;&nbsp;645000 | &nbsp;&nbsp;&nbsp;&nbsp;690944 |
|  | Newark Board of Education, |  |  |
|  | Newark Board of Education, Refunding, 5.00%, 7/15/28 | &nbsp;&nbsp; 571000 | &nbsp;&nbsp;&nbsp;&nbsp;606773 |
|  | Refunding, 5.00%, 7/15/30 | &nbsp;&nbsp; 620000 | &nbsp;&nbsp;&nbsp;&nbsp;678692 |
|  |  |  | &nbsp;&nbsp;&nbsp;3573374 |
|  | **New Mexico 0.1%** |  |  |
|  | City of Santa Fe Wastewater Utility System Revenue, Wastewater Utility System Revenue, 4.00%, 6/01/35 | &nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;100928 |
|  | **New York 9.4%** |  |  |
|  | Metropolitan Transportation Authority, |  |  |
|  | Green Bond, Series 2020A-1, 4.00%, 11/15/41 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp;551446 |
|  | Refunding, 5.00%, 11/15/28 | &nbsp;&nbsp; 430000 | &nbsp;&nbsp;&nbsp;&nbsp;458027 |
|  | Refunding, Series E, 5.00%, 11/15/32 | &nbsp;&nbsp; 605000 | &nbsp;&nbsp;&nbsp;&nbsp;655951 |
|  | Series C, 5.00%, 11/15/50 | &nbsp;&nbsp;1510000 | 1497334 |
| <sup>b</sup> | New York City Municipal Water Finance Authority, Refunding, VRDN, 3.90%, 6/15/33 | &nbsp;&nbsp;1900000 | &nbsp;&nbsp;&nbsp;1900000 |
|  | New York Liberty Development Corp., |  |  |
|  | 7 World Trade Center II LLC, Refunding , Series 2022A1, 3.00%, 9/15/43 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;765952 |
|  | Green Bonds- 4 World Trade, Refunding, 2.50%, 11/15/36 | &nbsp;&nbsp;2000000 | 1624602 |
|  | New York State Housing Finance Agency, |  |  |
|  | Sustainability Bonds, Series 2019N, 2.60%, 11/01/34 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85486 |
|  | Sustainability Bonds, Series 2019P, 2.00%, 5/01/28 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96312 |
|  | <sup>b</sup> Sustainability Bonds, VRDN, Series 2022A, 2.50%, 11/01/60 | &nbsp;&nbsp;1410000 | 1388859 |
|  | New York Transportation Development Corp., JFK NTO LLC, AMT, 5.50%, 6/30/38 | &nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;263651 |
|  |  |  | &nbsp;&nbsp;&nbsp;9287620 |
|  | **Ohio 5.0%** |  |  |
|  | American Municipal Power, Inc., |  |  |
|  | Meldahl Hydroelectric Project, Series A, 4.00%, 2/15/41 | &nbsp;&nbsp;1415000 | 1298467 |
|  | Solar Electricity Prepayment Revenue, 5.00%, 2/15/44 | &nbsp;&nbsp;1660000 | 1675181 |
| <sup>b</sup> | County of Hamilton, TriHealth Obligated Group, VRDN, Refunding, Series B, 4.05%, 8/15/51 | &nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;500000 |
|  | Ohio State University, Series A, 4.00%, 12/01/39 | &nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;1469309 |
|  |  |  | &nbsp;&nbsp;&nbsp;4942957 |
|  | **Oregon 2.9%** |  |  |
|  | Hospital Facilities Authority of Multnomah County Oregon, Terwilliger Plaza Inc Obligated Group, Refunding, 4.00%, 12/01/51 | &nbsp;&nbsp;530000 | &nbsp;&nbsp;&nbsp;&nbsp;381844 |
|  | Port of Portland Airport Revenue, |  |  |
|  | AMT, 5.50%, 7/01/53 | &nbsp;&nbsp;2250000 | 2318027 |
|  | AMT, Series 2020-27A, 5.00%, 7/01/36 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp;155570 |
|  |  |  | &nbsp;&nbsp;&nbsp;2855441 |
|  | **Pennsylvania 2.3%** |  |  |
|  | Philadelphia Energy Authority, City of Philadelphia PA, 5.00%, 11/01/43 | &nbsp;&nbsp;1130000 | &nbsp;&nbsp;&nbsp;1165588 |
|  | School District of Philadelphia, |  |  |
|  | Green Bond, Series 2021B, 5.00%, 9/01/31 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp;109260 |
|  | Series B, 5.00%, 9/01/48 | &nbsp;&nbsp;1000000 | 1006926 |
|  |  |  | &nbsp;&nbsp;&nbsp;2281774 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | |
|:---|:---|:---|
| **Puerto Rico 0.5%** |  |  |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, Series A-1, 5.00%, 7/01/58 | &nbsp;&nbsp;525000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;494337 |
| **Rhode Island 0.1%** |  |  |
| Rhode Island Housing & Mortgage Finance Corp., Multi Family Development, Sustainability Bond, 2.75%, 10/01/34 | &nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129017 |
| **Texas 0.9%** |  |  |
| Harris County Flood Control District, Series 2022A, 4.25%, 10/01/47 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;916024 |
| **Utah 5.8%** |  |  |
| Central Valley Water Reclamation Facility, Green Bond, Series 2021C, 4.00%, 3/01/47 | &nbsp;&nbsp;3050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2742974 |
| Intermountain Power Agency, Refunding, Series 2022A, 5.00%, 7/01/43 | &nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3054207 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5797181 |
| **Vermont 3.0%** |  |  |
| Vermont Educational & Health Buildings Financing Agency, |  |  |
| University of Vermont Health Network Obligated Group, 4.00%, 12/01/42 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 905479 |
| University of Vermont Health Network Obligated Group, 5.00%, 12/01/38 | &nbsp;&nbsp;2015000 | &nbsp;&nbsp;&nbsp;&nbsp; 2019221 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2924700 |
| **Virginia 0.4%** |  |  |
| City of Hampton, |  |  |
| Green Bond, 4.00%, 9/01/31 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 105072 |
| Green Bond, 5.00%, 9/01/27 | &nbsp;&nbsp; 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 52589 |
| Series A, 3.00%, 9/01/35 | &nbsp;&nbsp; 240000 | &nbsp;&nbsp;&nbsp;&nbsp; 222398 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;380059 |
| **Washington 1.8%** |  |  |
| Central Puget Sound Regional Transit Authority, Refunding, Series S-1, 4.00%, 11/01/46 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1783587 |
| **Wisconsin 4.8%** |  |  |
| Milwaukee Metropolitan Sewerage District, |  |  |
| Green Bond, Series 2020A, 3.00%, 10/01/35 | &nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 137782 |
| Series A, 3.00%, 10/01/32 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 965579 |
| Public Finance Authority, |  |  |
| <sup>a</sup> Patriot Services Group Obligated Group, Refunding, Series A-1, 4.50%, 12/01/31 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 496562 |
| RED River Valley Alliance LLC, AMT, 4.00%, 9/30/51 | &nbsp;&nbsp;2330000 | &nbsp;&nbsp;&nbsp;&nbsp; 1842393 |
| RED River Valley Alliance LLC, AMT, 4.00%, 3/31/56 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 462052 |
| University of Wisconsin Hospitals & Clinics, Authority Obligated Group, Green Bond, Refunding, 4.00%, 4/01/46 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;896366 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4800734 |
| **Total Municipal Bonds (Cost $100,391,392)** |  | &nbsp;&nbsp;&nbsp;&nbsp;96735340 |
| **Total Investments (Cost $100,391,392) 97.6%** |  | &nbsp;&nbsp;&nbsp;&nbsp;96735340 |
| **Other Assets, less Liabilities 2.4%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2341158 |
| **Net Assets 100.0%** |  | $99076498 |

---

---

| |
|:---|
| \*The principal amount is stated in U.S. dollars unless otherwise indicated. |
| <sup>a</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional buyers or in a public offering registered under the Securities Act of 1933. At June 30, 2025, the aggregate value of these securities was $3,600,088, representing 3.6% of net assets. |
| <sup>b</sup>Variable rate demand notes (VRDN) are obligations which contain a floating or variable interest rate adjustment formula and an unconditional right of demand to receive payment of the principal balance plus accrued interest at specified dates. Unless otherwise noted, the coupon rate is determined based on factors including supply and demand, underlying credit, tax treatment, and current short term rates. The coupon rate shown represents the rate at period end. |

---

#### Abbreviations

---

| | |
|:---|:---|
| **Selected Portfolio** |  |
| **AMT** | Alternative Minimum Tax |
| **VRDN** | Variable Rate Demand Note |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Franklin Senior Loan ETF** | &nbsp;&nbsp;**Country** | &nbsp;&nbsp;**Principal Amount\*** | &nbsp;&nbsp;**Value** |
|  | **Corporate Bonds & Notes 3.5%** |  |  |  |
|  | **Advertising 0.3%** |  |  |  |
| <sup>a</sup> | Clear Channel Outdoor Holdings, Inc., 7.875%, 4/01/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3200000 | &nbsp;&nbsp;$3306093 |
|  | **Aerospace & Defense 0.3%** |  |  |  |
| <sup>a</sup> | Goat Holdco LLC, 6.75%, 2/01/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2034950 |
| <sup>a</sup> | TransDigm, Inc., 6.00%, 1/15/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1710334 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3745284 |
|  | **Airlines 0.3%** |  |  |  |
| <sup>a</sup> | Air Canada, 3.875%, 8/15/26 | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;693416 |
| <sup>a</sup> | American Airlines, Inc., 8.50%, 5/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;839327 |
| <sup>a</sup> | American Airlines, Inc./AAdvantage Loyalty IP Ltd., 5.50%, 4/20/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1266667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1264552 |
| <sup>a</sup> | Delta Air Lines, Inc./SkyMiles IP Ltd., first lien, 4.50%, 10/20/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41575 |
| <sup>a</sup> | United Airlines, Inc., 4.375%, 4/15/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139162 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2978032 |
|  | **Chemicals 0.0%<sup>†</sup>** |  |  |  |
| <sup>a</sup> | SCIH Salt Holdings, Inc., 4.875%, 5/01/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;487457 |
|  | **Commercial Services & Supplies 0.2%** |  |  |  |
| <sup>a</sup> | Albion Financing 1 SARL/Aggreko Holdings, Inc., 7.00%, 5/21/30 | &nbsp;&nbsp;Luxembourg | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;587200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600722 |
| <sup>a</sup> | Allied Universal Holdco LLC, 7.875%, 2/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1045582 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1646304 |
|  | **Construction Materials 0.3%** |  |  |  |
| <sup>a</sup> | Cemex SAB de CV, 5.20%, 9/17/30 | &nbsp;&nbsp;Mexico | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;374426 |
| <sup>a</sup> | EMRLD Borrower LP/Emerald Co-Issuer, Inc., 6.625%, 12/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1432791 |
| <sup>a</sup> | Quikrete Holdings, Inc., 6.375%, 3/01/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1028945 |
| <sup>a</sup> | Smyrna Ready Mix Concrete LLC, 8.875%, 11/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;734459 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3570621 |
|  | **Electric 0.1%** |  |  |  |
| <sup>a</sup> | Calpine Corp., first lien, 4.50%, 2/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;794015 |
| <sup>a</sup> | Talen Energy Supply LLC, 8.625%, 6/01/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;428933 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1222948 |
|  | **Entertainment 0.3%** |  |  |  |
| <sup>a</sup> | Caesars Entertainment, Inc., 6.50%, 2/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1540111 |
| <sup>a</sup> | Great Canadian Gaming Corp./Raptor LLC, 8.75%, 11/15/29 | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;244881 |
| <sup>a</sup> | International Game Technology PLC, first lien, 5.25%, 1/15/29 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;1200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1189991 |
| <sup>a</sup> | Ontario Gaming GTA LP/OTG Co-Issuer, Inc., 8.00%, 8/01/30 | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;502009 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3476992 |
|  | **Environmental Control 0.1%** |  |  |  |
| <sup>a</sup> | GFL Environmental, Inc., 3.50%, 9/01/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;579174 |
|  | **Financial Services 0.4%** |  |  |  |
|  | Jane Street Group/JSG Finance, Inc., |  |  |  |
|  | <sup>a</sup> 4.50%, 11/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 291266 |
|  | <sup>a</sup> 6.125%, 11/01/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 755000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 762679 |
|  | <sup>a</sup> 6.75%, 5/01/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2674961 |
| <sup>a</sup> | Vmed O2 U.K. Financing I PLC, 4.25%, 1/31/31 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192516 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3921422 |
|  | **Health Care Providers & Services 0.1%** |  |  |  |
| <sup>a</sup> | Radiology Partners, Inc., 8.50%, 7/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1505370 |
|  | **Insurance 0.5%** |  |  |  |
| <sup>a</sup> | Acrisure LLC/Acrisure Finance, Inc., 4.25%, 2/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480221 |
|  | Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer, |  |  |  |
|  | <sup>a</sup> 6.75%, 4/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3356859 |
|  | <sup>a</sup> 7.00%, 1/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1035165 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4872245 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **IT Services 0.1%** |  |  |  |
| <sup>a</sup> | Fortress Intermediate 3, Inc., 7.50%, 6/01/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 629320 |
|  | **Machinery-Diversified 0.0%<sup>†</sup>** |  |  |  |
| <sup>a</sup> | GrafTech Finance, Inc., 4.625%, 12/23/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 276000 |
|  | **Media 0.2%** |  |  |  |
| <sup>a</sup> | Directv Financing LLC/Directv Financing Co-Obligor, Inc., 5.875%, 8/15/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 748021 |
| <sup>a</sup> | McGraw-Hill Education, Inc., 7.375%, 9/01/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1043901 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1791922 |
|  | **Oil, Gas & Consumable Fuels 0.0%<sup>†</sup>** |  |  |  |
|  | Cheniere Energy, Inc., 4.625%, 10/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149836 |
|  | **Packaging & Containers 0.1%** |  |  |  |
| <sup>a</sup> | Clydesdale Acquisition Holdings, Inc., 6.75%, 4/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164303 |
| <sup>a</sup> | Mauser Packaging Solutions Holding Co., 7.875%, 4/15/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;805000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;819202 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;983505 |
|  | **Personal Care Products 0.2%** |  |  |  |
| <sup>a</sup> | Coty, Inc., 5.00%, 4/15/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1604940 |
|  | **Pharmaceuticals 0.0%** |  |  |  |
| <sup>a,b</sup> | Endo Luxembourg Finance SARL, 6.125%, 4/01/29 | &nbsp;&nbsp;Luxembourg | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | **Retail 0.0%<sup>†</sup>** |  |  |  |
| <sup>a</sup> | Bausch & Lomb Corp., 8.375%, 10/01/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;360000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;376200 |
|  | **Telecommunications 0.0%<sup>†</sup>** |  |  |  |
| <sup>a</sup> | CommScope LLC, 4.75%, 9/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214569 |
|  | **Total Corporate Bonds & Notes (Cost $36,423,382)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37338234 |
| <sup>c</sup> | **Senior Floating Rate Interests 86.7%** |  |  |  |
|  | **Aerospace & Defense 1.1%** |  |  |  |
|  | Air Comm Corp. LLC, 2024 Term Loan, 3 mo. USD Term SOFR + 3.00%, 7.30%, 12/11/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3797491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3821225 |
|  | Dynasty Acquisition Co., Inc., |  |  |  |
|  | 2024 1st Lien Term Loan B1, 1 mo. USD Term SOFR + 2.00%, 6.327%, 10/31/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3597656 | &nbsp;&nbsp; 3603358 |
|  | 2024 1st Lien Term Loan B2, 1 mo. USD Term SOFR + 2.00%, 6.327%, 10/31/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1368433 | &nbsp;&nbsp; 1370603 |
|  | TransDigm, Inc., 2024 Term Loan, 3 mo. USD Term SOFR + 2.50%, 6.799%, 1/19/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2862009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2869550 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11664736 |
|  | **Air Freight & Logistics 2.0%** |  |  |  |
|  | First Student Bidco, Inc., |  |  |  |
|  | 2024 Term Loan B2, 3 mo. USD Term SOFR + 2.50%, 6.799%, 7/21/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3275301 | &nbsp;&nbsp; 3280410 |
|  | 2024 1st Lien Term Loan B, 3 mo. USD Term SOFR + 2.50%, 6.799%, 7/21/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2644013 | &nbsp;&nbsp; 2648560 |
|  | 2024 Term Loan C, 3 mo. USD Term SOFR + 2.50%, 6.799%, 7/21/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 810672 | &nbsp;&nbsp; 812067 |
|  | Forward Air Corp., Term Loan B, 3 mo. USD Term SOFR + 4.50%, 8.78%, 12/19/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3072000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3058714 |
|  | Kenan Advantage Group, Inc., 2024 Term Loan B4, 1 mo. USD Term SOFR + 3.25%, 7.577%, 1/25/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;5788313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5715959 |
|  | LaserShip, Inc., |  |  |  |
|  | 2024 Term Loan B, 3 mo. USD Term SOFR + 1.50%, 6.057%, 8/10/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1487132 | &nbsp;&nbsp; 872448 |
|  | 2024 PIK Third Out Term Loan D, 3 mo. USD Term SOFR + 1.50%, 6.061%, 8/10/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1082273 | &nbsp;&nbsp; 311153 |
|  | Savage Enterprises LLC, 2024 Term Loan B, 1 mo. USD Term SOFR + 2.75%, 7.066%, 9/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2131152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2140242 |
|  | Worldwide Express Operations LLC, 2024 Term Loan B, 3 mo. USD Term SOFR + 4.00%, 8.299%, 7/26/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3376336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3380624 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22220177 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Airlines 0.0%<sup>†</sup>** |  |  |  |
| American Airlines, Inc., 2025 Term Loan B, 3 mo. USD Term SOFR + 3.25%, 7.546%, 5/28/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 516129 | &nbsp;&nbsp; 520129 |
| **Automobile Components 2.4%** |  |  |  |
| Clarios Global LP, |  |  |  |
| 2024 USD Term Loan B, 1 mo. USD Term SOFR + 2.50%, 6.827%, 5/06/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1326535 | &nbsp;&nbsp; 1324466 |
| 2025 USD Term Loan B, 1 mo. USD Term SOFR + 2.75%, 7.077%, 1/28/32 | &nbsp;&nbsp;Canada | &nbsp;&nbsp; 1977661 | &nbsp;&nbsp; 1981992 |
| DexKo Global, Inc., |  |  |  |
| 2021 USD Term Loan B, 1 mo. USD Term SOFR + 3.75%, 8.191%, 10/04/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4926445 | &nbsp;&nbsp; 4726382 |
| 2023 Incremental Term Loan, 1 mo. USD Term SOFR + 4.25%, 8.577%, 10/04/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 684316 | &nbsp;&nbsp; 659653 |
| First Brands Group LLC, |  |  |  |
| 2021 Term Loan, 3 mo. USD Term SOFR + 5.00%, 9.541%, 3/30/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;11078324 | &nbsp;&nbsp; 10497100 |
| 2022 Incremental Term Loan, 3 mo. USD Term SOFR + 5.00%, 9.541%, 3/30/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2437804 | &nbsp;&nbsp; 2307284 |
| RealTruck Group, Inc., 2021 Term Loan B, 1 mo. USD Term SOFR + 3.75%, 8.191%, 1/31/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;5335264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4795735 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26292612 |
| **Automobiles 0.1%** |  |  |  |
| American Trailer World Corp., Term Loan B, 1 mo. USD Term SOFR + 3.75%, 8.177%, 3/03/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1895532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1556506 |
| **Beverages 0.8%** |  |  |  |
| Triton Water Holdings, Inc., 2025 Term Loan B, 3 mo. USD Term SOFR + 2.25%, 6.549%, 3/31/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;9019562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9062134 |
| **Chemicals 2.7%** |  |  |  |
| Hexion Holdings Corp., |  |  |  |
| 2024 Term Loan B, 1 mo. USD Term SOFR + 4.00%, 8.312%, 3/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5512904 | &nbsp;&nbsp; 5507722 |
| 2022 USD 2nd Lien Term Loan, 1 mo. USD Term SOFR + 7.44%, 11.864%, 3/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 776471 | &nbsp;&nbsp; 761912 |
| INEOS Quattro Holdings U.K. Ltd., |  |  |  |
| 2023 USD Term Loan, 1 mo. USD Term SOFR + 3.75%, 8.177%, 3/14/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1290401 | &nbsp;&nbsp; 1187169 |
| 2023 USD 1st Lien Term Loan B, 1 mo. USD Term SOFR + 4.25%, 8.677%, 4/02/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2656691 | &nbsp;&nbsp; 2480685 |
| INEOS U.S. Finance LLC, |  |  |  |
| 2024 USD 1st Lien Term Loan B, 1 mo. USD Term SOFR + 3.00%, 7.327%, 2/07/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1271373 | &nbsp;&nbsp; 1216068 |
| 2023 USD Term Loan B, 1 mo. USD Term SOFR + 3.25%, 7.577%, 2/18/30 | &nbsp;&nbsp;Luxembourg | &nbsp;&nbsp; 1464136 | &nbsp;&nbsp; 1407013 |
| Nouryon Finance BV, |  |  |  |
| 2024 USD Term Loan B1, 3 mo. USD Term SOFR + 3.25%, 7.51%, 4/03/28 | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp; 3245578 | &nbsp;&nbsp; 3264857 |
| 2024 USD Term Loan B2, 3 mo. USD Term SOFR + 3.25%, 7.55%, 4/03/28 | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp; 1697223 | &nbsp;&nbsp; 1707304 |
| PMHC II, Inc., 2022 Term Loan B, 3 mo. USD Term SOFR + 4.25%, 8.642%, 4/23/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;9304449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8149767 |
| SCIH Salt Holdings, Inc., 2021 Incremental Term Loan B, 3 mo. USD Term SOFR + 3.00%, 7.280% - 7.324%, 1/31/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3107559 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3112252 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28794749 |
| **Commercial Bank 0.8%** |  |  |  |
| AqGen Island Holdings, Inc., 2024 Term Loan B, 1 mo. USD Term SOFR + 3.00%, 7.327%, 8/02/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;8600380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8627256 |
| **Commercial Services & Supplies 7.1%** |  |  |  |
| Allied Universal Holdco LLC, 2021 USD Incremental Term Loan B, 1 mo. USD Term SOFR + 3.75%, 8.177%, 5/12/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;11177368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11243258 |
| Boost Newco Borrower LLC, 2025 USD Term Loan B, 3 mo. USD Term SOFR + 2.00%, 6.299%, 1/31/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;10696876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10736989 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | CHG Healthcare Services, Inc., 2024 Term Loan B1, 3 mo. USD Term SOFR + 3.00%, 7.299% - 7.333%, 9/29/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 6312154 | &nbsp;&nbsp; 6341158 |
|  | Ensemble RCM LLC, 2024 Term Loan B, 3 mo. USD Term SOFR + 3.00%, 7.28%, 8/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 621955 | &nbsp;&nbsp; 625083 |
|  | KUEHG Corp., 2024 Term Loan, 3 mo. USD Term SOFR + 3.25%, 7.549%, 6/12/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1995132 | &nbsp;&nbsp; 1998404 |
|  | Madison IAQ LLC, |  |  |  |
|  | Term Loan, 6 mo. USD Term SOFR + 2.50%, 6.762%, 6/21/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 7342464 | &nbsp;&nbsp; 7356231 |
|  | 2025 Term Loan B, 3 mo. USD Term SOFR + 3.25%, 7.557%, 5/06/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2007910 |
|  | Mavis Tire Express Services Corp., 2025 Repriced Term Loan, 3 mo. USD Term SOFR + 3.00%, 7.333%, 5/04/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 7438048 | &nbsp;&nbsp; 7443738 |
| <sup>d</sup> | Mavis Tire Express Services Topco Corp., 2025 Fungible Add On Term Loan, TBD, 5/04/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 752212 | &nbsp;&nbsp; 752788 |
|  | Nuvei Technologies Corp., 2024 Term Loan B1, 1 mo. USD Term SOFR + 3.00%, 7.327%, 11/17/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 8670063 | &nbsp;&nbsp; 8694426 |
|  | Prime Security Services Borrower LLC, 2024 1st Lien Term Loan B, 1 mo. USD Term SOFR + 2.00%, 6.32%, 10/13/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;4444305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4451527 |
|  | Priority Holdings LLC, 2024 Term Loan B, 1 mo. USD Term SOFR + 4.75%, 9.077%, 5/16/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;967869 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;971983 |
|  | Raven Acquisition Holdings LLC, Term Loan B, 1 mo. USD Term SOFR + 3.25%, 7.577%, 11/19/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3630900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3632262 |
|  | Spin Holdco, Inc., 2021 Term Loan, 3 mo. USD Term SOFR + 4.00%, 8.577%, 3/04/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3784481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3335074 |
|  | TTF Holdings LLC, 2024 Term Loan, 6 mo. USD Term SOFR + 3.75%, 8.002%, 7/18/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2120262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2108336 |
|  | Veritiv Corp., Term Loan B, 3 mo. USD Term SOFR + 4.00%, 8.299%, 11/30/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3266977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3282495 |
|  | Wand NewCo 3, Inc., 2025 Repriced Term Loan B, 1 mo. USD Term SOFR + 2.50%, 6.827%, 1/30/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1893091 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1886825 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76868487 |
|  | **Communications Equipment 0.7%** |  |  |  |
|  | Crown Subsea Communications Holding, Inc., 2024 Term Loan B1, 3 mo. USD Term SOFR + 4.00%, 8.33%, 1/30/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1130834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1139553 |
|  | Delta TopCo, Inc., 2025 Term Loan B, 3 mo. USD Term SOFR + 2.75%, 7.074%, 11/30/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;5678845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5644857 |
|  | Zayo Group Holdings, Inc., USD Term Loan, 1 mo. USD Term SOFR + 3.00%, 7.441%, 3/09/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;708194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675472 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7459882 |
|  | **Construction & Engineering 0.9%** |  |  |  |
|  | Brand Industrial Services, Inc., 2024 Term Loan B, 3 mo. USD Term SOFR + 4.50%, 8.776%, 8/01/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1613155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1356768 |
|  | Chromalloy Corp., 2024 Term Loan B, 3 mo. USD Term SOFR + 3.75%, 8.039%, 3/27/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3248060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3257187 |
|  | Newly Weds Foods, Inc., Term Loan B, 1 mo. USD Term SOFR + 2.25%, 6.562%, 3/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;4872340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4872340 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9486295 |
|  | **Construction Materials 2.2%** |  |  |  |
|  | Chamberlain Group, Inc., Term Loan B, 1 mo. USD Term SOFR + 3.25%, 7.677%, 11/03/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;4767871 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4781412 |
|  | Cornerstone Building Brands, Inc., |  |  |  |
|  | 2021 Term Loan B, 1 mo. USD Term SOFR + 3.25%, 7.662%, 4/12/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2335462 | &nbsp;&nbsp; 2092189 |
|  | 2024 Term Loan B, 1 mo. USD Term SOFR + 4.50%, 8.812%, 5/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2503856 | &nbsp;&nbsp; 2140797 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | EMRLD Borrower LP, 2024 Term Loan B, 1 mo. USD Term SOFR + 2.50%, 6.827%, 8/04/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5582625 | &nbsp;&nbsp; 5580642 |
|  | MI Windows & Doors LLC, 2024 Term Loan B2, 1 mo. USD Term SOFR + 3.00%, 7.327%, 3/28/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1589875 | &nbsp;&nbsp; 1595296 |
|  | Quikrete Holdings, Inc., |  |  |  |
|  | 2024 Term Loan B1, 1 mo. USD Term SOFR + 2.25%, 6.577%, 3/19/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1264200 | &nbsp;&nbsp; 1265357 |
|  | 2025 Term Loan B1, 1 mo. USD Term SOFR + 2.25%, 6.577%, 4/14/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3225041 | &nbsp;&nbsp; 3223025 |
|  | 2025 Term Loan B, 1 mo. USD Term SOFR + 2.25%, 6.577%, 2/10/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3618517 | &nbsp;&nbsp; 3618065 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24296783 |
|  | **Containers & Packaging 2.7%** |  |  |  |
|  | Berlin Packaging LLC, 2024 Term Loan B7, 1 mo. USD Term SOFR + 3.50%, 7.796% - 7.824%, 6/07/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 6658540 | &nbsp;&nbsp; 6689968 |
|  | Charter NEX U.S., Inc., 2024 Term Loan B1, 1 mo. USD Term SOFR + 2.75%, 7.061%, 11/29/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;8234858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8273479 |
|  | Clydesdale Acquisition Holdings, Inc., 2025 Term Loan B, 1 mo. USD Term SOFR + 3.25%, 7.577%, 4/01/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;6035372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6018624 |
|  | Klockner-Pentaplast of America, Inc., 2021 Term Loan B, 6 mo. USD Term SOFR + 4.73%, 9.227%, 2/12/26 | &nbsp;&nbsp;Luxembourg | &nbsp;&nbsp;&nbsp;&nbsp;2716022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2520075 |
|  | Proampac PG Borrower LLC, 2024 Term Loan, 3 mo. USD Term SOFR + 4.00%, 8.256% - 8.324%, 9/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;5326245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5353542 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28855688 |
|  | **Distributors 1.1%** |  |  |  |
|  | BCPE Empire Holdings, Inc., 2025 Term Loan B, 1 mo. USD Term SOFR + 3.25%, 7.577%, 12/11/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;7150564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7118386 |
|  | Windsor Holdings III LLC, 2025 USD Term Loan B, 1 mo. USD Term SOFR + 2.75%, 7.075%, 8/01/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;4975000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4982040 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12100426 |
|  | **Electric Utilities 0.1%** |  |  |  |
|  | Talen Energy Supply LLC, |  |  |  |
|  | 2023 Term Loan B, 3 mo. USD Term SOFR + 2.50%, 6.808%, 5/17/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 277480 | &nbsp;&nbsp; 278456 |
|  | 2024-1 Incremental Term Loan, 3 mo. USD Term SOFR + 2.50%, 6.808%, 12/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 356951 | &nbsp;&nbsp; 358512 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;636968 |
|  | **Entertainment 3.1%** |  |  |  |
|  | Bally's Corp., 2021 Term Loan B, 3 mo. USD Term SOFR + 3.25%, 7.784%, 10/02/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;6385414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5667055 |
|  | Caesars Entertainment, Inc., |  |  |  |
|  | Term Loan B, 1 mo. USD Term SOFR + 2.25%, 6.577%, 2/06/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3943458 | &nbsp;&nbsp; 3946415 |
|  | 2024 Term Loan B1, 1 mo. USD Term SOFR + 2.25%, 6.577%, 2/06/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1853658 | &nbsp;&nbsp; 1854826 |
|  | Flutter Financing BV, 2024 Term Loan B, 3 mo. USD Term SOFR + 1.75%, 6.049%, 11/30/30 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;5438707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5431908 |
|  | GVC Holdings (Gibraltar) Ltd., 2024 USD Term Loan B3, 6 mo. USD Term SOFR + 2.75%, 7.016%, 10/31/29 | &nbsp;&nbsp;Gibraltar | &nbsp;&nbsp;&nbsp;&nbsp;2851548 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2866063 |
|  | Light & Wonder International, Inc., 2024 Term Loan B2, 1 mo. USD Term SOFR + 2.25%, 6.564%, 4/14/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1283594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1286321 |
|  | Ontario Gaming GTA LP, Term Loan B, 3 mo. USD Term SOFR + 4.25%, 8.549%, 8/01/30 | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;578524 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;573734 |
|  | Scientific Games Holdings LP, 2024 USD Term Loan B, 3 mo. USD Term SOFR + 3.00%, 7.285%, 4/04/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;5019461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5020942 |
|  | UFC Holdings LLC, 2024 Term Loan B, 3 mo. USD Term SOFR + 2.25%, 6.572%, 11/21/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;7466659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7503022 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34150286 |
|  | **Financial Services 4.3%** |  |  |  |
| <sup>d</sup> | Apex Group Treasury LLC, 2025 USD Term Loan B, TBD, 2/27/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1702083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1698364 |
|  | Aretec Group, Inc., 2024 1st Lien Term Loan B, 1 mo. USD Term SOFR + 3.50%, 7.827%, 8/09/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2871527 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2879969 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Assetmark Financial Holdings, Inc., 2024 Term Loan, 3 mo. USD Term SOFR + 2.75%, 7.049%, 9/05/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3638433 | &nbsp;&nbsp; 3647784 |
|  | Citadel Securities LP, 2024 First Lien Term Loan, 1 mo. USD Term SOFR + 2.00%, 6.327%, 10/31/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4436322 | &nbsp;&nbsp; 4459347 |
|  | CPI Holdco B LLC, 2024 Incremental Term Loan B, 1 mo. USD Term SOFR + 2.25%, 6.577%, 5/17/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000945 |
|  | Deerfield Dakota Holding LLC, 2020 USD Term Loan B, 3 mo. USD Term SOFR + 3.75%, 8.049%, 4/09/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1126738 | &nbsp;&nbsp; 1097477 |
|  | Edelman Financial Center LLC, 2024 Term Loan, 1 mo. USD Term SOFR + 3.00%, 7.327%, 4/07/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 6979690 | &nbsp;&nbsp; 6995220 |
|  | First Eagle Investment Management LLC, 2024 Term Loan B2, 3 mo. USD Term SOFR + 3.00%, 7.299%, 3/05/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4048750 | &nbsp;&nbsp; 4056767 |
|  | GC Ferry Acquisition I, Inc., |  |  |  |
|  | <sup>d</sup> Term Loan, TBD, 6/04/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4195049 | &nbsp;&nbsp; 4126879 |
|  | <sup>d</sup> Delayed Draw Term Loan, TBD, 6/04/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 716228 | &nbsp;&nbsp; 704141 |
|  | Hudson River Trading LLC, 2024 Term Loan B, 1 mo. USD Term SOFR + 3.00%, 7.314%, 3/18/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79542 |
|  | Jane Street Group LLC, 2024 Term Loan B1, 3 mo. USD Term SOFR + 2.00%, 6.333%, 12/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;7902027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7901197 |
|  | Janney Montgomery Scott LLC, Term Loan, 6 mo. USD Term SOFR + 3.25%, 7.467%, 11/28/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1607236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1615706 |
| <sup>d</sup> | Orion U.S. Finco, Inc., 1st Lien Term Loan, TBD, 5/20/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1851528 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1859397 |
|  | Russell Investments U.S. Institutional Holdco, Inc., 2024 PIK Term Loan, 3 mo. USD Term SOFR + 1.50%, 1.500% - 9.28%, 5/30/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3059314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2900994 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47023729 |
|  | **Food Products 0.8%** |  |  |  |
|  | Froneri Lux Finco SARL, 2024 USD Term Loan B4, 6 mo. USD Term SOFR + 2.00%, 6.237%, 9/30/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;4887750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4845006 |
|  | Primary Products Finance LLC, 2024 1st Lien Term Loan B, 3 mo. USD Term SOFR + 3.25%, 7.535%, 4/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3744139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3730492 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8575498 |
|  | **Health Care Equipment & Supplies 1.2%** |  |  |  |
|  | Bausch & Lomb Corp., |  |  |  |
|  | <sup>d</sup> 2025 Term Loan B, TBD, 12/18/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1261765 | &nbsp;&nbsp; 1265714 |
|  | 2023 Incremental Term Loan, 1 mo. USD Term SOFR + 4.00%, 8.327%, 9/29/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1572000 | &nbsp;&nbsp; 1575278 |
|  | Term Loan, 1 mo. USD Term SOFR + 4.25%, 8.671%, 5/10/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2179514 | &nbsp;&nbsp; 2178402 |
|  | Medline Borrower LP, 2024 USD Add-on Term Loan B, 1 mo. USD Term SOFR + 2.25%, 6.577%, 10/23/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;8520192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8539576 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13558970 |
|  | **Health Care Providers & Services 5.7%** |  |  |  |
|  | ADMI Corp., |  |  |  |
|  | 2021 Term Loan B2, 1 mo. USD Term SOFR + 3.38%, 7.816%, 12/23/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 734510 | &nbsp;&nbsp; 697476 |
|  | 2021 Incremental Term Loan B3, 1 mo. USD Term SOFR + 3.75%, 8.191%, 12/23/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 8573494 | &nbsp;&nbsp; 8198404 |
|  | 2023 Term Loan B5, 1 mo. USD Term SOFR + 5.75%, 10.077%, 12/23/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 230260 | &nbsp;&nbsp; 223812 |
|  | Charlotte Buyer, Inc., 2025 Repriced Term Loan B, 1 mo. USD Term SOFR + 4.25%, 8.564%, 2/11/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;8575996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8587488 |
|  | DaVita, Inc., 2024 Extended Term Loan B1, 1 mo. USD Term SOFR + 2.00%, 6.327%, 5/09/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1985000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1997912 |
|  | Global Medical Response, Inc., 2024 PIK Term Loan, 3 mo. USD Term SOFR + 4.75%, 0.75% - 9.079%, 10/31/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0 |
|  | LifePoint Health, Inc., |  |  |  |
|  | 2024 Incremental Term Loan B1, 3 mo. USD Term SOFR + 3.50%, 7.817%, 5/19/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3435581 | &nbsp;&nbsp; 3388651 |
|  | 2024 1st Lien Term Loan B, 3 mo. USD Term SOFR + 3.75%, 8.006%, 5/19/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2822673 | &nbsp;&nbsp; 2797085 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| Medical Solutions Holdings, Inc., 2021 1st Lien Term Loan, 3 mo. USD Term SOFR + 3.50%, 7.88%, 11/01/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3406203 | &nbsp;&nbsp; 1835450 |
| MPH Acquisition Holdings LLC, |  |  |  |
| 2025 Exchange 1st Out Term Loan, 3 mo. USD Term SOFR + 3.75%, 8.03%, 12/31/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 308710 | &nbsp;&nbsp; 304697 |
| 2025 Second Out Term Loan, 3 mo. USD Term SOFR + 4.60%, 9.141%, 12/31/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2559021 | &nbsp;&nbsp; 2303119 |
| National Mentor Holdings, Inc., |  |  |  |
| 2021 Term Loan C, 3 mo. USD Term SOFR + 3.75%, 8.149%, 3/02/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 137937 | &nbsp;&nbsp; 133626 |
| 2021 Term Loan, 3 mo. USD Term SOFR + 3.75%, 8.146% - 8.177%, 3/02/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4495317 | &nbsp;&nbsp; 4354839 |
| Parexel International Corp., 2025 Term Loan B, 1 mo. USD Term SOFR + 2.50%, 6.827%, 11/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5690077 | &nbsp;&nbsp; 5698072 |
| Phoenix Guarantor, Inc., 2024 Term Loan B, 1 mo. USD Term SOFR + 2.50%, 6.827%, 2/21/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 6024615 | &nbsp;&nbsp; 6051304 |
| Radiology Partners, Inc., |  |  |  |
| <sup>d</sup> 2025 Term Loan, TBD, 7/01/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1986250 |
| 2024 Extended Term Loan B, 3 mo. USD Term SOFR + 5.00%, 1.500% - 9.591%, 1/31/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1729564 | &nbsp;&nbsp; 1731008 |
| Star Parent, Inc., Term Loan B, 3 mo. USD Term SOFR + 4.00%, 8.299%, 9/27/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1942083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1925595 |
| U.S. Anesthesia Partners, Inc., 2021 Term Loan, 1 mo. USD Term SOFR + 4.25%, 8.689%, 10/01/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;7243808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7168074 |
| U.S. Radiology Specialists, Inc., 2024 Term Loan B, 3 mo. USD Term SOFR + 4.75%, 9.049%, 12/15/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2718664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2728016 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62110878 |
| **Hotels, Restaurants & Leisure 0.8%** |  |  |  |
| Fertitta Entertainment LLC, 2022 Term Loan B, 1 mo. USD Term SOFR + 3.50%, 7.827%, 1/27/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;7397087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7397383 |
| Hilton Grand Vacations Borrower LLC, |  |  |  |
| 2021 Term Loan B, 1 mo. USD Term SOFR + 2.00%, 6.327%, 8/02/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 903683 | &nbsp;&nbsp; 904460 |
| 2024 Incremental Term Loan B, 1 mo. USD Term SOFR + 2.00%, 6.327%, 1/17/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 396000 | &nbsp;&nbsp; 396034 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8697877 |
| **Household Durables 1.9%** |  |  |  |
| AI Aqua Merger Sub, Inc., 2024 1st Lien Term Loan B, 1 mo. USD Term SOFR + 3.00%, 7.323%, 7/31/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;9246924 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9244243 |
| Hunter Douglas, Inc., 2025 USD Term Loan B, 3 mo. USD Term SOFR + 3.25%, 7.549%, 1/20/32 | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;5503756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5491152 |
| II-VI, Inc., 2024 1st Lien Term Loan B, 1 mo. USD Term SOFR + 2.00%, 6.327%, 7/02/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;5734026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5749565 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20484960 |
| **Insurance 6.9%** |  |  |  |
| Acrisure LLC, |  |  |  |
| 2024 1st Lien Term Loan B6, 1 mo. USD Term SOFR + 3.00%, 7.327%, 11/06/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;11651608 | &nbsp;&nbsp; 11637918 |
| 2025 Term Loan B, 1 mo. USD Term SOFR + 3.25%, 7.577%, 6/04/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1167883 | &nbsp;&nbsp; 1167883 |
| Alliant Holdings Intermediate LLC, 2024 Term Loan B6, 1 mo. USD Term SOFR + 2.75%, 7.075%, 9/19/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;8674160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8685957 |
| AmWINS Group, Inc., 2025 Term Loan B, 1 mo. USD Term SOFR + 2.25%, 6.577%, 1/30/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;10119700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10134576 |
| AssuredPartners, Inc., 2024 Incremental Term Loan B5, 1 mo. USD Term SOFR + 3.50%, 7.827%, 2/14/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2272441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2280701 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| Asurion LLC, |  |  |  |
| 2022 Term Loan B10, 1 mo. USD Term SOFR + 4.00%, 8.427%, 8/19/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2679474 | &nbsp;&nbsp; 2646168 |
| 2023 Term Loan B11, 1 mo. USD Term SOFR + 4.25%, 8.677%, 8/19/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1150207 | &nbsp;&nbsp; 1139625 |
| 2021 Second Lien Term Loan B4, 1 mo. USD Term SOFR + 5.25%, 9.691%, 1/20/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5297666 | &nbsp;&nbsp; 4928896 |
| Broadstreet Partners, Inc., 2024 Term Loan B4, 1 mo. USD Term SOFR + 3.00%, 7.327%, 6/13/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 8117799 | &nbsp;&nbsp; 8136673 |
| HUB International Ltd., 2025 Term Loan B, 3 mo. USD Term SOFR + 2.50%, 6.769% - 6.796%, 6/20/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 9215905 | &nbsp;&nbsp; 9253874 |
| Sedgwick Claims Management Services, Inc., 2023 Term Loan B, 1 mo. USD Term SOFR + 3.00%, 7.327%, 7/31/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;11583929 | &nbsp;&nbsp; 11638663 |
| Truist Insurance Holdings LLC, 2024 Term Loan B, 3 mo. USD Term SOFR + 2.75%, 7.049%, 5/06/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2843205 | &nbsp;&nbsp; 2847939 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74498873 |
| **IT Services 2.1%** |  |  |  |
| Barracuda Networks, Inc., 2022 Term Loan, 3 mo. USD Term SOFR + 4.50%, 8.78%, 8/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1370150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1141849 |
| CNT Holdings I Corp., 2025 Term Loan, 3 mo. USD Term SOFR + 2.50%, 6.78%, 11/08/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2394000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2402606 |
| MH Sub I LLC, |  |  |  |
| 2023 Term Loan, 1 mo. USD Term SOFR + 4.25%, 8.577%, 5/03/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5592216 | &nbsp;&nbsp; 5256684 |
| 2024 Term Loan B4, 1 mo. USD Term SOFR + 4.25%, 8.577%, 12/31/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 6301033 | &nbsp;&nbsp; 5491760 |
| Proofpoint, Inc., 2024 Term Loan, 1 mo. USD Term SOFR + 3.00%, 7.327%, 8/31/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;8386206 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8401217 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22694116 |
| **Machinery 2.5%** |  |  |  |
| CD&R Hydra Buyer, Inc., 2024 Term Loan B, 1 mo. USD Term SOFR + 4.00%, 8.427%, 3/25/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2570965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2535936 |
| CPM Holdings, Inc., 2023 Term Loan, 1 mo. USD Term SOFR + 4.50%, 8.824%, 9/28/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2966134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2909362 |
| Pro Mach Group, Inc., 2025 Term Loan B, 1 mo. USD Term SOFR + 2.75%, 7.077%, 8/31/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3279835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3290248 |
| Roper Industrial Products Investment Co. LLC, 2024 USD 1st Lien Term Loan B, 3 mo. USD Term SOFR + 2.75%, 7.049%, 11/22/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;5597010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5592813 |
| TK Elevator Midco GmbH, 2025 USD Term Loan B, 3 mo. USD Term SOFR + 3.00%, 7.237%, 4/30/30 | &nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;4744695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4762487 |
| WEC U.S. Holdings Ltd., 2024 Term Loan, 1 mo. USD Term SOFR + 2.25%, 6.574%, 1/27/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;7648714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7659231 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26750077 |
| **Media 1.9%** |  |  |  |
| Cengage Learning, Inc., 2024 1st Lien Term Loan B, 3 mo. USD Term SOFR + 3.50%, 7.822% - 7.83%, 3/24/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;5757432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5777928 |
| Charter Communications Operating LLC, 2024 Term Loan B5, 3 mo. USD Term SOFR + 2.25%, 6.548%, 12/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3239277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3247991 |
| Gray Television, Inc., 2021 Term Loan D, 1 mo. USD Term SOFR + 3.00%, 7.439%, 12/01/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2433455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2362386 |
| iHeartCommunications, Inc., 2024 Term Loan, 1 mo. USD Term SOFR + 5.78%, 10.214%, 5/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1037162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;848311 |
| McGraw-Hill Global Education Holdings LLC, 2025 Term Loan B, 1 mo. USD Term SOFR + 3.25%, 7.577%, 8/06/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1196863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1202350 |
| Neptune Bidco U.S., Inc., 2022 USD Term Loan B, 3 mo. USD Term SOFR + 5.00%, 9.33%, 4/11/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3127727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2966305 |
| Univision Communications, Inc., 2024 Term Loan B, 1 mo. USD Term SOFR + 3.50%, 7.941%, 1/31/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1683000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1653893 |
| Virgin Media Bristol LLC, 2020 USD Term Loan Q, 1 mo. USD Term SOFR + 3.25%, 7.676%, 1/31/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2470000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2451623 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20510787 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Passenger Airlines 1.5%** |  |  |  |
| American Airlines, Inc., 2023 1st Lien Term Loan, 6 mo. USD Term SOFR + 2.25%, 6.507%, 6/04/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 7156429 | &nbsp;&nbsp; 7100967 |
| United Airlines, Inc., 2024 1st Lien Term Loan B, 3 mo. USD Term SOFR + 2.00%, 6.275%, 2/22/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1546010 | &nbsp;&nbsp; 1551329 |
| WestJet Loyalty LP, Term Loan B, 3 mo. USD Term SOFR + 3.25%, 7.549%, 2/14/31 | &nbsp;&nbsp;Canada | &nbsp;&nbsp; 7099650 | &nbsp;&nbsp; 7109411 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15761707 |
| **Personal Care Products 0.7%** |  |  |  |
| Conair Holdings LLC, Term Loan B, 1 mo. USD Term SOFR + 3.75%, 8.191%, 5/17/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1999399 | &nbsp;&nbsp; 1479555 |
| Opal Bidco SAS, USD Term Loan B, 3 mo. USD Term SOFR + 3.25%, 7.575%, 4/28/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 6300000 | &nbsp;&nbsp; 6333485 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7813040 |
| **Pharmaceuticals 1.2%** |  |  |  |
| Endo Luxembourg Finance Co. I SARL, 2024 1st Lien Term Loan, 1 mo. USD Term SOFR + 4.00%, 8.327%, 4/23/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3262383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3264421 |
| Gainwell Acquisition Corp., Term Loan B, 3 mo. USD Term SOFR + 4.00%, 8.399%, 10/01/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2644852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2554266 |
| Organon & Co., 2024 USD Term Loan, 1 mo. USD Term SOFR + 2.25%, 6.573%, 5/19/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;944974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;931584 |
| Southern Veterinary Partners LLC, 2024 1st Lien Term Loan, 3 mo. USD Term SOFR + 3.25%, 7.527%, 12/04/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;6218896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6233200 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12983471 |
| **Pipelines 0.2%** |  |  |  |
| EPIC Crude Services LP, 2024 Term Loan B, 3 mo. USD Term SOFR + 3.00%, 7.256%, 10/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1933983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1942850 |
| **Real Estate Management & Development 1.4%** |  |  |  |
| CoreLogic, Inc., Term Loan, 1 mo. USD Term SOFR + 3.50%, 7.941%, 6/02/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;8425160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8350134 |
| Cushman & Wakefield U.S. Borrower LLC, |  |  |  |
| 2025 Term Loan B1, 1 mo. USD Term SOFR + 2.75%, 7.077%, 1/31/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3593756 | &nbsp;&nbsp; 3615462 |
| 2024 Tranche 2 Incremental Term Loan, 1 mo. USD Term SOFR + 3.25%, 7.577%, 1/31/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2997081 | &nbsp;&nbsp; 3017057 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14982653 |
| **Semiconductors & Semiconductor Equipment 0.2%** |  |  |  |
| MKS Instruments, Inc., 2025 USD Repriced Term Loan, 1 mo. USD Term SOFR + 2.00%, 6.325%, 8/17/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2253869 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2262603 |
| **Software 15.6%** |  |  |  |
| Ascend Learning LLC, 2025 Repriced Term Loan B, 1 mo. USD Term SOFR + 3.00%, 7.327%, 12/11/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;4805865 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4810599 |
| Athenahealth Group, Inc., 2022 Term Loan B, 1 mo. USD Term SOFR + 2.75%, 7.077%, 2/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;10674386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10675720 |
| Boxer Parent Co., Inc., 2025 USD Term Loan B, 3 mo. USD Term SOFR + 3.00%, 7.333%, 7/30/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;9775500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9725987 |
| Central Parent, Inc., 2024 Term Loan B, 3 mo. USD Term SOFR + 3.25%, 7.549%, 7/06/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;9194509 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7700861 |
| Cloud Software Group, Inc., |  |  |  |
| 2024 1st Lien Term Loan B, 3 mo. USD Term SOFR + 3.50%, 7.799%, 3/29/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2562651 | &nbsp;&nbsp; 2568327 |
| 2024 USD Term Loan, 3 mo. USD Term SOFR + 3.75%, 8.049%, 3/21/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 7081991 | &nbsp;&nbsp; 7101892 |
| Cloudera, Inc., 2021 Term Loan, 1 mo. USD Term SOFR + 3.75%, 8.177%, 10/08/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;6965126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6714382 |
| ConnectWise LLC, 2021 Term Loan B, 3 mo. USD Term SOFR + 3.50%, 8.061%, 9/29/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1624789 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1635115 |
| Cornerstone OnDemand, Inc., 2021 Term Loan, 1 mo. USD Term SOFR + 3.75%, 8.191%, 10/16/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2203498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2073359 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| Cotiviti Corp., |  |  |  |
| 2024 Term Loan, 1 mo. USD Term SOFR + 2.75%, 7.074%, 5/01/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;10289861 | &nbsp;&nbsp; 10254515 |
| 2025 2nd Amendment Term Loan, 1 mo. USD Term SOFR + 2.75%, 7.074%, 3/26/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 3985840 |
| DCert Buyer, Inc., |  |  |  |
| 2019 Term Loan B, 1 mo. USD Term SOFR + 4.00%, 8.327%, 10/16/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1804853 | &nbsp;&nbsp; 1791686 |
| 2021 2nd Lien Term Loan, 1 mo. USD Term SOFR + 7.00%, 11.327%, 2/19/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 878750 |
| Dun & Bradstreet Corp., 2024 Term Loan, 1 mo. USD Term SOFR + 2.25%, 6.575%, 1/18/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 7286638 | &nbsp;&nbsp; 7289371 |
| Epicor Software Corp., 2024 Term Loan E, 1 mo. USD Term SOFR + 2.75%, 7.077%, 5/30/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;11155838 | &nbsp;&nbsp; 11196781 |
| Flash Charm, Inc., 2024 Term Loan, 3 mo. USD Term SOFR + 3.50%, 7.776%, 3/02/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 6832021 | &nbsp;&nbsp; 6425652 |
| Flexera Software LLC, 2024 1st Lien Term Loan, 3 mo. USD Term SOFR + 3.00%, 7.31%, 3/03/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;4922231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4931904 |
| Genesys Cloud Services Holdings II LLC, 2025 USD Term Loan B, 1 mo. USD Term SOFR + 2.50%, 6.827%, 1/30/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;10734407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10744819 |
| Playtika Holding Corp., 2021 Term Loan B1, 1 mo. USD Term SOFR + 2.75%, 7.191%, 3/13/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;5427466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5348551 |
| PointClickCare Technologies, Inc., 2024 USD Term Loan B, 6 mo. USD Term SOFR + 3.25%, 7.416%, 11/03/31 | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;3980000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4002407 |
| Polaris Newco LLC, USD Term Loan B, 3 mo. USD Term SOFR + 3.75%, 8.291%, 6/02/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1959041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1911828 |
| Project Alpha Intermediate Holding, Inc., 2024 1st Lien Term Loan B, 3 mo. USD Term SOFR + 3.25%, 7.549%, 10/26/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;8551533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8601431 |
| Project Boost Purchaser LLC, 2025 Refinancing Term Loan, 3 mo. USD Term SOFR + 3.00%, 7.299%, 7/16/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;6833011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6852621 |
| Rocket Software, Inc., 2023 USD Term Loan B, 1 mo. USD Term SOFR + 4.25%, 8.577%, 11/28/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2323041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2331055 |
| Skopima Merger Sub, Inc., 2024 Repriced Term Loan, 1 mo. USD Term SOFR + 3.75%, 8.077%, 5/12/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3187242 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3149951 |
| Sovos Compliance LLC, 2025 Term Loan B, 1 mo. USD Term SOFR + 4.00%, 8.327%, 8/13/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;5548854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5582758 |
| Surf Holdings LLC, 2025 Incremental Term Loan, 1 mo. USD Term SOFR + 3.50%, 7.943%, 3/05/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;2976516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2991339 |
| UKG, Inc., 2024 Term Loan B, 1 mo. USD Term SOFR + 3.00%, 7.311%, 2/10/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;11662334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11719538 |
| VS Buyer LLC, 2024 1st Lien Term Loan B, 3 mo. USD Term SOFR + 2.75%, 7.02%, 4/12/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1850544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1862110 |
| Zelis Payments Buyer, Inc., 5th Amendment Term Loan, 1 mo. USD Term SOFR + 3.25%, 7.577%, 11/26/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;4496198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4478393 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;169337542 |
| **Specialty Retail 5.1%** |  |  |  |
| 1011778 BC Unlimited Liability Co., 2024 Term Loan B6, 1 mo. USD Term SOFR + 1.75%, 6.077%, 9/20/30 | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;4576884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4563062 |
| Flynn Restaurant Group LP, 2025 Incremental Term Loan, 1 mo. USD Term SOFR + 3.75%, 8.077%, 1/28/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3425319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3425319 |
| Foundation Building Materials Holding Co. LLC, 2024 Term Loan B2, 3 mo. USD Term SOFR + 4.00%, 8.28%, 1/29/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3246076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3186948 |
| Great Outdoors Group LLC, 2025 Term Loan B, 1 mo. USD Term SOFR + 3.25%, 7.577%, 1/23/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;5963491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5964446 |
| Harbor Freight Tools USA, Inc., 2024 Term Loan B, 1 mo. USD Term SOFR + 2.25%, 6.577%, 6/11/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1259350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1234818 |
| IRB Holding Corp., 2024 1st Lien Term Loan B, 1 mo. USD Term SOFR + 2.50%, 6.827%, 12/15/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;9137043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9146591 |
| Kodiak Building Partners, Inc., 2024 Term Loan B, 3 mo. USD Term SOFR + 3.75%, 8.035%, 12/04/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1908853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1842835 |
| Michaels Cos., Inc., 2021 Term Loan B, 3 mo. USD Term SOFR + 4.25%, 8.811%, 4/17/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1937156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1628421 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Peer Holding III BV, |  |  |  |
|  | 2025 USD Term Loan B4B, 3 mo. USD Term SOFR + 2.50%, 6.799%, 10/28/30 | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp; 397985 | &nbsp;&nbsp; 400908 |
|  | 2025 USD Term Loan B5B, 3 mo. USD Term SOFR + 2.50%, 6.799%, 7/01/31 | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp; 3501964 | &nbsp;&nbsp; 3525165 |
|  | Petco Health & Wellness Co., Inc., 2021 Term Loan B, 3 mo. USD Term SOFR + 3.25%, 7.811%, 3/03/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 6258289 | &nbsp;&nbsp; 5781658 |
|  | PetSmart, Inc., 2021 Term Loan B, 1 mo. USD Term SOFR + 3.75%, 8.177%, 2/11/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1289530 | &nbsp;&nbsp; 1279052 |
|  | QXO, Inc., Term Loan B, 3 mo. USD Term SOFR + 3.00%, 7.296%, 4/30/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 299823 | &nbsp;&nbsp; 302245 |
|  | Whatabrands LLC, 2024 1st Lien Term Loan B, 1 mo. USD Term SOFR + 2.50%, 6.827%, 8/03/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 8489202 | &nbsp;&nbsp; 8502445 |
|  | White Cap Buyer LLC, 2024 Term Loan B, 1 mo. USD Term SOFR + 3.25%, 7.577%, 10/19/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5142911 | &nbsp;&nbsp; 5122674 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55906587 |
|  | **Technology Hardware, Storage & Peripherals 4.1%** |  |  |  |
|  | Clover Holdings 2 LLC, Term Loan B, 3 mo. USD Term SOFR + 4.00%, 8.31%, 12/09/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;7443943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7464861 |
|  | Fortress Intermediate 3, Inc., Term Loan B, 1 mo. USD Term SOFR + 3.50%, 7.827%, 6/27/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;7729853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7758839 |
|  | Kaseya, Inc., 2025 1st Lien Term Loan B, 1 mo. USD Term SOFR + 3.25%, 7.577%, 3/20/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;6335691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6367876 |
|  | McAfee LLC, 2024 USD 1st Lien Term Loan B, 1 mo. USD Term SOFR + 3.00%, 7.316%, 3/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;13336990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12979959 |
|  | Nielsen Consumer, Inc., 2025 USD Term Loan, 1 mo. USD Term SOFR + 3.50%, 7.827%, 3/06/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;4927234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4938025 |
|  | Peraton Corp., Term Loan B, 1 mo. USD Term SOFR + 3.75%, 8.177%, 2/01/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;5728009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5072868 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44582428 |
|  | **Textiles, Apparel & Luxury Goods 0.8%** |  |  |  |
|  | ABG Intermediate Holdings 2 LLC, 2024 1st Lien Term Loan B, 1 mo. USD Term SOFR + 2.25%, 6.577%, 12/21/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;5133107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5136700 |
|  | Varsity Brands, Inc., 2025 Term Loan, 3 mo. USD Term SOFR + 3.50%, 7.83%, 8/26/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;3734231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3738320 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8875020 |
|  | **Total Floating Rate Loans (Cost $952,851,325)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;941946780 |
|  | **Asset-Backed Securities 0.2%** |  |  |  |
| <sup>a,e</sup> | BlueMountain CLO Ltd., Series 2018-3A, Class C, 3 mo. USD Term SOFR + 2.46%, 6.743%, 10/25/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1005543 |
| <sup>a,e</sup> | LCM XVIII LP, Series 18A, Class CR, 3 mo. USD Term SOFR + 2.11%, 6.381%, 4/20/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1004578 |
|  | **Total Asset-Backed Securities (Cost $1,996,875)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2010121 |
|  |  |  | &nbsp;&nbsp;**Shares** |  |
|  | **Common Stocks 0.0%<sup>†</sup>** |  |  |  |
|  | **Health Care Providers & Services 0.0%<sup>†</sup>** |  |  |  |
| <sup>f</sup> | Endo, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297701 |
|  | **Total Common Stocks (Cost $238,946)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297701 |
|  | **Exchange-Traded Funds 2.5%** |  |  |  |
|  | **Fixed Income Funds 2.5%** |  |  |  |
| <sup>g</sup> | Franklin High Yield Corporate ETF | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295966 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7206772 |
|  | Invesco Senior Loan ETF | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;436413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9129760 |
|  | iShares iBoxx $ High Yield Corporate Bond ETF | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5645500 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Janus Henderson AAA CLO ETF | &nbsp;&nbsp;United States | &nbsp;&nbsp; 105000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5328750 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27310782 |
|  | **Total Exchange-Traded Funds (Cost $26,944,953)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27310782 |
|  | **Total Investments before Short-Term Investments (Cost $1,018,455,481)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1008903618 |
|  |  |  | &nbsp;&nbsp;**Principal Amount\*** |  |
|  | **Short-Term Investments 7.0%** |  |  |  |
|  | **U.S. Government & Agency Securities 7.0%** |  |  |  |
| <sup>h</sup> | Federal Home Loan Bank Discount Notes, 4.158%, 07/01/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;75830000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75821237 |
|  | **Total Short-Term Investments (Cost $75,830,000)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75821237 |
|  | **Total Investments (Cost $1,094,285,481) 99.9%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1084724855 |
|  | **Other Assets, less Liabilities 0.1%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1604356 |
|  | **Net Assets 100.0%** |  |  | &nbsp;&nbsp;$1086329211 |

---

---

| |
|:---|
| <sup>†</sup>Rounds to less than 0.1% of net assets. |
| \*The principal amount is stated in U.S. dollars unless otherwise indicated. |
| <sup>a</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional buyers or in a public offering registered under the Securities Act of 1933. At June 30, 2025, the aggregate value of these securities was $39,198,519, representing 3.6% of net assets. |
| <sup>b</sup>Fair valued using significant unobservable inputs. See Note 5 regarding fair value measurements. |
| <sup>c</sup>The coupon rate shown represents the rate at period end. |
| <sup>d</sup>A portion or all of the security represents an unsettled loan commitment. The coupon rate is to-be determined (TBD) at the time of settlement and will be based upon a reference index/floor plus a spread. |
| <sup>e</sup>The coupon rate shown represents the rate inclusive of any caps or floors, if applicable, in effect at period end. |
| <sup>f</sup>Non-income producing. |
| <sup>g</sup>The fund is affiliated. See Note 3. |
| <sup>h</sup>The rate shown represents the yield at period end. |

---

#### Abbreviations

---

| | |
|:---|:---|
| **Selected Portfolio** |  |
| **CLO** | Collateralized Loan Obligation |
| **ETF** | Exchange Traded Fund |
| **PIK** | Payment-In-Kind |
| **SOFR** | Secured Overnight Financing Rate |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Franklin Sustainable International Equity ETF** | &nbsp;&nbsp;**Country** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
|  | **Common Stocks 98.9%** |  |  |  |
|  | **Automobiles 8.7%** |  |  |  |
|  | Ferrari NV | &nbsp;&nbsp;Italy | &nbsp;&nbsp; 5532 | &nbsp;&nbsp;$2702043 |
|  | **Biotechnology 3.4%** |  |  |  |
|  | CSL Ltd. | &nbsp;&nbsp;Australia | &nbsp;&nbsp; 6675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1047596 |
|  | **Broadline Retail 0.8%** |  |  |  |
|  | Alibaba Group Holding Ltd., Class A | &nbsp;&nbsp;China | &nbsp;&nbsp; 18000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 251771 |
|  | **Building Products 8.0%** |  |  |  |
|  | Assa Abloy AB, Class B | &nbsp;&nbsp;Sweden | &nbsp;&nbsp;&nbsp;&nbsp;32656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1011506 |
|  | Kingspan Group PLC | &nbsp;&nbsp;Ireland | &nbsp;&nbsp;&nbsp;&nbsp;17377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1472734 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2484240 |
|  | **Capital Markets 2.5%** |  |  |  |
|  | Partners Group Holding AG | &nbsp;&nbsp;Switzerland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;764548 |
|  | **Chemicals 5.5%** |  |  |  |
|  | Linde PLC | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3633 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1704531 |
|  | **Electrical Equipment 3.1%** |  |  |  |
|  | Schneider Electric SE | &nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;981234 |
|  | **Electronic Equipment, Instruments & Components 1.6%** |  |  |  |
|  | Hexagon AB, Class B | &nbsp;&nbsp;Sweden | &nbsp;&nbsp;&nbsp;&nbsp;49019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;489449 |
|  | **Financial Services 4.9%** |  |  |  |
| <sup>a,b</sup> | Adyen NV | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1512853 |
|  | **Health Care Equipment & Supplies 7.6%** |  |  |  |
|  | Coloplast AS, Class B | &nbsp;&nbsp;Denmark | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234457 |
|  | ResMed, Inc., CDI | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;81842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2110544 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2345001 |
|  | **Interactive Media & Services 1.4%** |  |  |  |
|  | Tencent Holdings Ltd. | &nbsp;&nbsp;China | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435720 |
|  | **Life Sciences Tools & Services 10.1%** |  |  |  |
| <sup>b</sup> | Mettler-Toledo International, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1402616 |
| <sup>b</sup> | Oxford Nanopore Technologies PLC | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;138479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;259788 |
|  | Sartorius Stedim Biotech | &nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1460477 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3122881 |
|  | **Machinery 5.5%** |  |  |  |
|  | Atlas Copco AB, Class A | &nbsp;&nbsp;Sweden | &nbsp;&nbsp;106560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1709026 |
|  | **Personal Care Products 4.7%** |  |  |  |
|  | L'Oreal SA | &nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1449590 |
|  | **Pharmaceuticals 4.2%** |  |  |  |
|  | AstraZeneca PLC | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262520 |
|  | Novo Nordisk AS, Class B | &nbsp;&nbsp;Denmark | &nbsp;&nbsp;&nbsp;&nbsp;14872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1028624 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1291144 |
|  | **Semiconductors & Semiconductor Equipment 11.8%** |  |  |  |
|  | ASML Holding NV | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1893053 |
|  | BE Semiconductor Industries NV | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1049332 |
|  | Taiwan Semiconductor Manufacturing Co. Ltd. | &nbsp;&nbsp;Taiwan | &nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725729 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3668114 |
|  | **Software 10.6%** |  |  |  |
|  | Constellation Software, Inc. | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925819 |
|  | Dassault Systemes SE | &nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;34478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1243704 |
|  | Nemetschek SE | &nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1114063 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3283586 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Textiles, Apparel & Luxury Goods 4.5%** |  |  |  |
| Moncler SpA | &nbsp;&nbsp;Italy | &nbsp;&nbsp; 24851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1411601 |
| **Total Common Stocks (Cost $28,731,195)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30654928 |
| **Total Investments (Cost $28,731,195) 98.9%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30654928 |
| **Other Assets, less Liabilities 1.1%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334438 |
| **Net Assets 100.0%** |  |  | &nbsp;&nbsp;$30989366 |

---

---

| |
|:---|
| <sup>a</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional buyers or in a public offering registered under the Securities Act of 1933. At June 30, 2025, the value of this security was $1,512,853, representing 4.9% of net assets. |
| <sup>b</sup>Non-income producing. |

---

#### Abbreviations

---

| | |
|:---|:---|
| **Selected Portfolio** |  |
| **CDI** | Clearing House Electronic Subregister System Depositary Interest |
| **SPA** | Standby Purchase Agreement |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Consolidated Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Franklin Systematic Style Premia ETF** | &nbsp;&nbsp;**Country** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
|  | **Common Stocks 68.9%** |  |  |  |
|  | **Aerospace & Defense 2.3%** |  |  |  |
|  | General Electric Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 15905 | &nbsp;&nbsp;$4093788 |
|  | L3Harris Technologies, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 909044 |
|  | RTX Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 18710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2732034 |
|  | Textron, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 181777 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7916643 |
|  | **Air Freight & Logistics 0.4%** |  |  |  |
|  | CH Robinson Worldwide, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138648 |
|  | Deutsche Post AG | &nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;591626 |
|  | Expeditors International of Washington, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181658 |
|  | FedEx Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;556000 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1467932 |
|  | **Automobile Components 0.1%** |  |  |  |
|  | Sumitomo Electric Industries Ltd. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;368542 |
|  | **Automobiles 0.7%** |  |  |  |
|  | General Motors Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1117264 |
|  | Mercedes-Benz Group AG | &nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;875979 |
|  | Subaru Corp. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142802 |
|  | Suzuki Motor Corp. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430787 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2566832 |
|  | **Banks 3.6%** |  |  |  |
|  | AIB Group PLC | &nbsp;&nbsp;Ireland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;404818 |
|  | Banco Santander SA | &nbsp;&nbsp;Spain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1843909 |
|  | Barclays PLC | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1068715 |
|  | BNP Paribas SA | &nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;812117 |
|  | BOC Hong Kong Holdings Ltd. | &nbsp;&nbsp;China | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390955 |
|  | Citigroup, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32617 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2776359 |
|  | Fifth Third Bancorp | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;511493 |
|  | ING Groep NV | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;915516 |
|  | NatWest Group PLC | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;810226 |
|  | Standard Chartered PLC | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;651284 |
|  | UniCredit SpA | &nbsp;&nbsp;Italy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1560736 |
|  | Wells Fargo & Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;569813 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12315941 |
|  | **Beverages 0.2%** |  |  |  |
|  | Asahi Group Holdings Ltd. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208169 |
|  | Coca-Cola HBC AG | &nbsp;&nbsp;Switzerland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140329 |
|  | Kirin Holdings Co. Ltd. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117441 |
|  | Molson Coors Beverage Co., Class B | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109645 |
| <sup>a</sup> | Monster Beverage Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161737 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;737321 |
|  | **Biotechnology 1.9%** |  |  |  |
|  | AbbVie, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1566447 |
| <sup>a</sup> | Biogen, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;379407 |
| <sup>a</sup> | BioMarin Pharmaceutical, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247145 |
| <sup>a</sup> | Genmab AS | &nbsp;&nbsp;Denmark | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107794 |
|  | Gilead Sciences, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3282417 |
| <sup>a</sup> | Incyte Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136132 |
| <sup>a</sup> | Neurocrine Biosciences, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168173 |
|  | Regeneron Pharmaceuticals, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;513450 |
| <sup>a</sup> | United Therapeutics Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;287925 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6688890 |
|  | **Broadline Retail 0.5%** |  |  |  |
|  | eBay, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;744377 |
| <sup>a</sup> | MercadoLibre, Inc. | &nbsp;&nbsp;Brazil | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;595908 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> CONSOLIDATED SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Next PLC | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp; 2771 | &nbsp;&nbsp; 472376 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1812661 |
|  | **Building Products 0.9%** |  |  |  |
|  | Allegion PLC | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1400 | &nbsp;&nbsp; 201768 |
| <sup>a</sup> | Builders FirstSource, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1156 | &nbsp;&nbsp; 134894 |
|  | Carlisle Cos., Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 499 | &nbsp;&nbsp; 186326 |
|  | Cie de Saint-Gobain SA | &nbsp;&nbsp;France | &nbsp;&nbsp; 5513 | &nbsp;&nbsp; 644813 |
|  | Johnson Controls International PLC | &nbsp;&nbsp;United States | &nbsp;&nbsp; 13400 | &nbsp;&nbsp; 1415308 |
|  | Lennox International, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 357 | &nbsp;&nbsp; 204647 |
|  | Masco Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2509 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161479 |
|  | Owens Corning | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132707 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3081942 |
|  | **Capital Markets 1.9%** |  |  |  |
|  | 3i Group PLC | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1277145 |
|  | Ameriprise Financial, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;559883 |
|  | Bank of New York Mellon Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1098878 |
|  | Carlyle Group, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178821 |
|  | Deutsche Bank AG | &nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;351713 |
|  | Morgan Stanley | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;503715 |
|  | Nomura Holdings, Inc. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;473874 |
|  | Northern Trust Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;604662 |
|  | Partners Group Holding AG | &nbsp;&nbsp;Switzerland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382274 |
|  | State Street Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;648355 |
|  | T. Rowe Price Group, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450076 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6529396 |
|  | **Chemicals 1.3%** |  |  |  |
|  | Asahi Kasei Corp. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121581 |
|  | CF Industries Holdings, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386768 |
|  | Corteva, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1146644 |
|  | Ecolab, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1249663 |
|  | Linde PLC | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;973 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456512 |
|  | Nitto Denko Corp. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193257 |
|  | RPM International, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335122 |
|  | Shin-Etsu Chemical Co. Ltd. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;634306 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4523853 |
|  | **Commercial Services & Supplies 0.6%** |  |  |  |
|  | Cintas Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;944969 |
| <sup>a</sup> | Copart, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;507089 |
|  | Rollins, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340213 |
|  | Veralto Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179186 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1971457 |
|  | **Communications Equipment 1.8%** |  |  |  |
|  | Cisco Systems, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3859262 |
| <sup>a</sup> | F5, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;397332 |
|  | Motorola Solutions, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1204197 |
|  | Nokia OYJ | &nbsp;&nbsp;Finland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252553 |
|  | Telefonaktiebolaget LM Ericsson, Class B | &nbsp;&nbsp;Sweden | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;558531 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6271875 |
|  | **Construction & Engineering 0.2%** |  |  |  |
|  | ACS Actividades de Construccion y Servicios SA | &nbsp;&nbsp;Spain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157426 |
|  | Bouygues SA | &nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180078 |
|  | Eiffage SA | &nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226070 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;563574 |
|  | **Construction Materials 0.5%** |  |  |  |
|  | CRH PLC | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1248480 |
|  | Heidelberg Materials AG | &nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;332925 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1581405 |

---

------

FRANKLIN TEMPLETON ETF TRUST

CONSOLIDATED SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Consumer Finance 0.2%** |  |  |  |
|  | Synchrony Financial | &nbsp;&nbsp;United States | &nbsp;&nbsp; 8909 | &nbsp;&nbsp; 594587 |
|  | **Consumer Staples Distribution & Retail 2.1%** |  |  |  |
|  | Albertsons Cos., Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp; 8953 | &nbsp;&nbsp; 192579 |
|  | Carrefour SA | &nbsp;&nbsp;France | &nbsp;&nbsp; 6675 | &nbsp;&nbsp; 93790 |
|  | George Weston Ltd. | &nbsp;&nbsp;Canada | &nbsp;&nbsp; 700 | &nbsp;&nbsp; 140108 |
|  | Koninklijke Ahold Delhaize NV | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp; 19089 | &nbsp;&nbsp; 795470 |
|  | Kroger Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 15289 | &nbsp;&nbsp; 1096680 |
|  | Loblaw Cos. Ltd. | &nbsp;&nbsp;Canada | &nbsp;&nbsp; 1100 | &nbsp;&nbsp; 181587 |
|  | Sysco Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;453304 |
|  | Target Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;431396 |
|  | Walmart, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3669977 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7054891 |
|  | **Containers & Packaging 0.3%** |  |  |  |
|  | Ball Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350955 |
|  | Crown Holdings, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295347 |
|  | Packaging Corp. of America | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;398006 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1044308 |
|  | **Diversified Telecommunication Services 1.4%** |  |  |  |
|  | AT&T, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2612182 |
|  | BT Group PLC | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;378940 |
|  | Deutsche Telekom AG | &nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1765465 |
|  | Koninklijke KPN NV | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202630 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4959217 |
|  | **Electric Utilities 1.4%** |  |  |  |
|  | CLP Holdings Ltd. | &nbsp;&nbsp;Hong Kong | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;336815 |
|  | Duke Energy Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12447 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1468746 |
|  | Endesa SA | &nbsp;&nbsp;Spain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236925 |
|  | Enel SpA | &nbsp;&nbsp;Italy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89397 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;845385 |
|  | Entergy Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;581092 |
|  | Evergy, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2263 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155989 |
|  | FirstEnergy Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202468 |
|  | Iberdrola SA | &nbsp;&nbsp;Spain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243022 |
|  | NRG Energy, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;781703 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4852145 |
|  | **Electrical Equipment 0.3%** |  |  |  |
|  | Fujikura Ltd. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309245 |
|  | Mitsubishi Electric Corp. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;740894 |
|  | Vestas Wind Systems AS | &nbsp;&nbsp;Denmark | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156079 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1206218 |
|  | **Electronic Equipment, Instruments & Components 0.7%** |  |  |  |
|  | Amphenol Corp., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;658267 |
|  | Jabil, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;548740 |
|  | TDK Corp. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;419048 |
|  | TE Connectivity PLC | &nbsp;&nbsp;Ireland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;618850 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2244905 |
|  | **Entertainment 1.4%** |  |  |  |
|  | Electronic Arts, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;843216 |
|  | Konami Group Corp. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189539 |
| <sup>a</sup> | Live Nation Entertainment, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270489 |
| <sup>a</sup> | Netflix, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2524260 |
| <sup>a</sup> | Sea Ltd., ADR | &nbsp;&nbsp;Singapore | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;943646 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4771150 |
|  | **Financial Services 1.7%** |  |  |  |
|  | Corebridge Financial, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251411 |
|  | Equitable Holdings, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;406893 |
|  | EXOR NV | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124899 |
|  | Fidelity National Information Services, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720641 |
|  | Mastercard, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2121323 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> CONSOLIDATED SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | ORIX Corp. | &nbsp;&nbsp;Japan | &nbsp;&nbsp; 24200 | &nbsp;&nbsp; 546173 |
| <sup>a</sup> | PayPal Holdings, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 21205 | &nbsp;&nbsp; 1575956 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5747296 |
|  | **Food Products 0.1%** |  |  |  |
|  | Archer-Daniels-Midland Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4313 | &nbsp;&nbsp; 227640 |
|  | **Gas Utilities 0.0%<sup>†</sup>** |  |  |  |
|  | Tokyo Gas Co. Ltd. | &nbsp;&nbsp;Japan | &nbsp;&nbsp; 5400 | &nbsp;&nbsp; 179146 |
|  | **Ground Transportation 1.4%** |  |  |  |
|  | CSX Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 23728 | &nbsp;&nbsp; 774244 |
| <sup>a</sup> | Uber Technologies, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4061629 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4835873 |
|  | **Health Care Equipment & Supplies 2.3%** |  |  |  |
| <sup>a</sup> | Boston Scientific Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17315 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1859804 |
| <sup>a</sup> | Edwards Lifesciences Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1019858 |
| <sup>a</sup> | Hologic, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185576 |
|  | Hoya Corp. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391924 |
| <sup>a</sup> | IDEXX Laboratories, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1931 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1035673 |
| <sup>a</sup> | Insulet Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;490435 |
|  | Medtronic PLC | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1874155 |
|  | Olympus Corp. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322946 |
|  | Sysmex Corp. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214076 |
|  | Terumo Corp. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;467825 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7862272 |
|  | **Health Care Providers & Services 0.7%** |  |  |  |
|  | Cardinal Health, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3738 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;627984 |
| <sup>a</sup> | Centene Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;377843 |
|  | Fresenius Medical Care AG | &nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129464 |
|  | HCA Healthcare, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;989164 |
| <sup>a</sup> | Molina Healthcare, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;196614 |
|  | Universal Health Services, Inc., Class B | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;747 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135319 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2456388 |
|  | **Health Care Technology 0.3%** |  |  |  |
| <sup>a</sup> | Veeva Systems, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;899362 |
|  | **Hotels, Restaurants & Leisure 2.2%** |  |  |  |
|  | Booking Holdings, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3942473 |
| <sup>a</sup> | Carnival Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;473091 |
|  | Domino's Pizza, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345610 |
| <sup>b</sup> | Evolution AB | &nbsp;&nbsp;Sweden | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199682 |
|  | Expedia Group, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;441773 |
|  | InterContinental Hotels Group PLC | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103552 |
|  | Las Vegas Sands Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199145 |
|  | Royal Caribbean Cruises Ltd. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2296 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;718970 |
|  | Wynn Resorts Ltd. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104348 |
|  | Yum! Brands, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6633 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;982878 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7511522 |
|  | **Household Durables 1.1%** |  |  |  |
|  | Panasonic Holdings Corp. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;548132 |
|  | PulteGroup, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189617 |
|  | Sony Group Corp. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3091011 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3828760 |
|  | **Household Products 0.7%** |  |  |  |
|  | Clorox Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362732 |
|  | Colgate-Palmolive Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;832735 |
|  | Kimberly-Clark Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;796983 |
|  | Procter & Gamble Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418693 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2411143 |
|  | **Independent Power Producers & Energy Traders 0.3%** |  |  |  |
|  | Vistra Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1114214 |

---

------

FRANKLIN TEMPLETON ETF TRUST

CONSOLIDATED SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Industrial Conglomerates 0.4%** |  |  |  |
|  | 3M Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 8926 | &nbsp;&nbsp; 1358894 |
|  | **Insurance 2.9%** |  |  |  |
|  | Aegon Ltd. | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp; 19699 | &nbsp;&nbsp; 142164 |
|  | Aflac, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 7847 | &nbsp;&nbsp; 827545 |
|  | AIA Group Ltd. | &nbsp;&nbsp;Hong Kong | &nbsp;&nbsp; 208000 | &nbsp;&nbsp; 1865376 |
|  | American International Group, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 14702 | &nbsp;&nbsp; 1258344 |
|  | Cincinnati Financial Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3271 | &nbsp;&nbsp; 487117 |
|  | Dai-ichi Life Holdings, Inc. | &nbsp;&nbsp;Japan | &nbsp;&nbsp; 66800 | &nbsp;&nbsp; 506856 |
|  | Fairfax Financial Holdings Ltd. | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900696 |
|  | Hartford Insurance Group, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4814 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610752 |
|  | Japan Post Holdings Co. Ltd. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;408661 |
|  | Loews Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;389188 |
|  | MetLife, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;916145 |
|  | MS&AD Insurance Group Holdings, Inc. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;458410 |
|  | NN Group NV | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190738 |
|  | Sompo Holdings, Inc. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499339 |
|  | Suncorp Group Ltd. | &nbsp;&nbsp;Australia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;361616 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9822947 |
|  | **Interactive Media & Services 0.7%** |  |  |  |
|  | Alphabet, Inc., Class C | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;506981 |
| <sup>b</sup> | Auto Trader Group PLC | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125568 |
|  | LY Corp. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117871 |
|  | Meta Platforms, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1347752 |
| <sup>a</sup> | Pinterest, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205191 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2303363 |
|  | **IT Services 1.2%** |  |  |  |
|  | CGI, Inc., Class A | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450673 |
|  | Cognizant Technology Solutions Corp., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;812995 |
| <sup>a</sup> | Gartner, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;576013 |
| <sup>a</sup> | GoDaddy, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;533158 |
|  | NEC Corp. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;648425 |
| <sup>a</sup> | Twilio, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;448691 |
|  | VeriSign, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;603014 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4072969 |
|  | **Leisure Products 0.1%** |  |  |  |
|  | Bandai Namco Holdings, Inc. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;522667 |
|  | **Life Sciences Tools & Services 0.5%** |  |  |  |
|  | Agilent Technologies, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;539896 |
| <sup>a</sup> | IQVIA Holdings, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396023 |
| <sup>a</sup> | Mettler-Toledo International, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500431 |
| <sup>a</sup> | Waters Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;426527 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1862877 |
|  | **Machinery 0.6%** |  |  |  |
|  | Cummins, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1794 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;587535 |
|  | Daifuku Co. Ltd. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152029 |
|  | GEA Group AG | &nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132620 |
|  | Komatsu Ltd. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170531 |
|  | Parker-Hannifin Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;592303 |
|  | Snap-on, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;579 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180173 |
|  | Techtronic Industries Co. Ltd. | &nbsp;&nbsp;Hong Kong | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362790 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2177981 |
|  | **Marine Transportation 0.0%<sup>†</sup>** |  |  |  |
|  | AP Moller - Maersk AS, Class B | &nbsp;&nbsp;Denmark | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94485 |
|  | **Media 0.3%** |  |  |  |
|  | Comcast Corp., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;786215 |
|  | Fox Corp., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268544 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1054759 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> CONSOLIDATED SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Metals & Mining 1.4%** |  |  |  |
|  | Agnico Eagle Mines Ltd. | &nbsp;&nbsp;Canada | &nbsp;&nbsp; 8200 | &nbsp;&nbsp; 974986 |
|  | ArcelorMittal SA | &nbsp;&nbsp;Luxembourg | &nbsp;&nbsp; 5404 | &nbsp;&nbsp; 170449 |
|  | Barrick Mining Corp. | &nbsp;&nbsp;Canada | &nbsp;&nbsp; 31700 | &nbsp;&nbsp; 658626 |
|  | Fortescue Ltd. | &nbsp;&nbsp;Australia | &nbsp;&nbsp; 42539 | &nbsp;&nbsp; 425975 |
|  | Kinross Gold Corp. | &nbsp;&nbsp;Canada | &nbsp;&nbsp; 29000 | &nbsp;&nbsp; 452268 |
|  | Newmont Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 24895 | &nbsp;&nbsp; 1450383 |
|  | Nippon Steel Corp. | &nbsp;&nbsp;Japan | &nbsp;&nbsp; 10300 | &nbsp;&nbsp; 194883 |
|  | Reliance, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 628 | &nbsp;&nbsp; 197129 |
|  | Steel Dynamics, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198416 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4723115 |
|  | **Multi-Utilities 0.6%** |  |  |  |
|  | Centrica PLC | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172588 |
|  | DTE Energy Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550769 |
|  | Engie SA | &nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;567603 |
|  | NiSource, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154058 |
|  | WEC Energy Group, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;787960 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2232978 |
|  | **Oil, Gas & Consumable Fuels 2.5%** |  |  |  |
|  | Cheniere Energy, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1208346 |
|  | Devon Energy Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213477 |
|  | ENEOS Holdings, Inc. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;319813 |
|  | EOG Resources, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1549189 |
|  | Imperial Oil Ltd. | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182348 |
|  | Inpex Corp. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168230 |
|  | Marathon Petroleum Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;951644 |
|  | Phillips 66 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;542815 |
|  | Suncor Energy, Inc. | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1084126 |
|  | Valero Energy Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;695489 |
|  | Williams Cos., Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1560829 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8476306 |
|  | **Personal Care Products 0.3%** |  |  |  |
|  | Beiersdorf AG | &nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;871 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108991 |
|  | Estee Lauder Cos., Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238279 |
|  | Kao Corp. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;397849 |
|  | L'Oreal SA | &nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161539 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;906658 |
|  | **Pharmaceuticals 2.7%** |  |  |  |
|  | Bristol-Myers Squibb Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1889650 |
|  | Chugai Pharmaceutical Co. Ltd. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130240 |
|  | Daiichi Sankyo Co. Ltd. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;661608 |
|  | Novartis AG | &nbsp;&nbsp;Switzerland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4073452 |
|  | Otsuka Holdings Co. Ltd. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460413 |
|  | Roche Holding AG | &nbsp;&nbsp;Switzerland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1338421 |
|  | Roche Holding AG | &nbsp;&nbsp;Switzerland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;492 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169975 |
|  | Royalty Pharma PLC, Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;287375 |
|  | Shionogi & Co. Ltd. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;319660 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9330794 |
|  | **Professional Services 1.3%** |  |  |  |
|  | Broadridge Financial Solutions, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;444988 |
|  | Jacobs Solutions, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;388829 |
|  | Leidos Holdings, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3003 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;473753 |
|  | Paycom Software, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142080 |
|  | Recruit Holdings Co. Ltd. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1217218 |
|  | RELX PLC | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24982 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1347795 |
|  | SS&C Technologies Holdings, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;413172 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4427835 |
|  | **Real Estate Management & Development 0.6%** |  |  |  |
| <sup>a</sup> | CBRE Group, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1028341 |
|  | CK Asset Holdings Ltd. | &nbsp;&nbsp;Hong Kong | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132229 |

---

------

FRANKLIN TEMPLETON ETF TRUST

CONSOLIDATED SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Daiwa House Industry Co. Ltd. | &nbsp;&nbsp;Japan | &nbsp;&nbsp; 14200 | &nbsp;&nbsp; 487014 |
|  | Sun Hung Kai Properties Ltd. | &nbsp;&nbsp;Hong Kong | &nbsp;&nbsp; 35500 | &nbsp;&nbsp; 407233 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2054817 |
|  | **Residential REITs 0.2%** |  |  |  |
|  | AvalonBay Communities, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1961 | &nbsp;&nbsp; 399063 |
|  | UDR, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3883 | &nbsp;&nbsp; 158543 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;557606 |
|  | **Retail REITs 0.3%** |  |  |  |
|  | Regency Centers Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2119 | &nbsp;&nbsp; 150936 |
|  | Simon Property Group, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;730333 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;881269 |
|  | **Semiconductors & Semiconductor Equipment 3.8%** |  |  |  |
|  | Advantest Corp. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1268760 |
|  | Applied Materials, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3438421 |
|  | KLA Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2020789 |
|  | Lam Research Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438030 |
|  | NVIDIA Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1898408 |
|  | QUALCOMM, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3931811 |
|  | Renesas Electronics Corp. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189495 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;13185714 |
|  | **Software 7.7%** |  |  |  |
| <sup>a</sup> | Adobe, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3573997 |
| <sup>a</sup> | ANSYS, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;568274 |
| <sup>a</sup> | AppLovin Corp., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1218278 |
| <sup>a</sup> | Autodesk, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1595833 |
| <sup>a</sup> | Cadence Design Systems, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;717065 |
| <sup>a</sup> | Check Point Software Technologies Ltd. | &nbsp;&nbsp;Israel | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147131 |
|  | Constellation Software, Inc. | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;731872 |
| <sup>a</sup> | Docusign, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;369822 |
| <sup>a</sup> | Dynatrace, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438423 |
| <sup>a</sup> | Fair Isaac Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;753120 |
| <sup>a</sup> | Fortinet, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1030030 |
|  | Gen Digital, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386081 |
|  | Intuit, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2065953 |
|  | Microsoft Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1737951 |
| <sup>a</sup> | Nice Ltd. | &nbsp;&nbsp;Israel | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252529 |
| <sup>a</sup> | Palantir Technologies, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23804 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3244961 |
| <sup>a</sup> | PTC, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187334 |
|  | Sage Group PLC | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175492 |
|  | Salesforce, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14947 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4075897 |
|  | SAP SE | &nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;682119 |
| <sup>a</sup> | ServiceNow, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;947 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;973592 |
| <sup>a</sup> | Tyler Technologies, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;439294 |
| <sup>a</sup> | Zoom Communications, Inc., Class A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;461018 |
| <sup>a</sup> | Zscaler, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2007 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630078 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;26456144 |
|  | **Specialized REITs 0.3%** |  |  |  |
|  | Gaming & Leisure Properties, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299406 |
|  | VICI Properties, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21802 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710745 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1010151 |
|  | **Specialty Retail 2.0%** |  |  |  |
| <sup>a</sup> | AutoZone, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1154504 |
|  | Best Buy Co., Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;318465 |
|  | Dick's Sporting Goods, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140247 |
|  | Fast Retailing Co. Ltd. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1234186 |
|  | Home Depot, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;670951 |
|  | TJX Cos., Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2352114 |
| <sup>a</sup> | Ulta Beauty, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495889 |
|  | Williams-Sonoma, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;487496 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6853852 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> CONSOLIDATED SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Technology Hardware, Storage & Peripherals 0.5%** |  |  |  |
|  | HP, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 19700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 481862 |
|  | NetApp, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4797 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 511120 |
|  | Seagate Technology Holdings PLC | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 317526 |
|  | Western Digital Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 7914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 506417 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1816925 |
|  | **Textiles, Apparel & Luxury Goods 0.4%** |  |  |  |
|  | Asics Corp. | &nbsp;&nbsp;Japan | &nbsp;&nbsp; 16400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 417820 |
| <sup>a</sup> | Lululemon Athletica, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 628636 |
|  | Pandora AS | &nbsp;&nbsp;Denmark | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1947 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340644 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1387100 |
|  | **Tobacco 0.7%** |  |  |  |
|  | Altria Group, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2334119 |
|  | **Trading Companies & Distributors 0.8%** |  |  |  |
|  | Fastenal Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;894096 |
|  | Marubeni Corp. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;544505 |
|  | Toyota Tsusho Corp. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194631 |
|  | WW Grainger, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1093 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1136982 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2770214 |
|  | **Transportation Infrastructure 0.1%** |  |  |  |
| <sup>b</sup> | Aena SME SA | &nbsp;&nbsp;Spain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;469746 |
|  | **Water Utilities 0.1%** |  |  |  |
|  | American Water Works Co., Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257771 |
|  | **Wireless Telecommunication Services 0.4%** |  |  |  |
|  | KDDI Corp. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;858458 |
|  | Vodafone Group PLC | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;473487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;504670 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1363128 |
|  | **Total Common Stocks (Cost $199,779,452)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236966485 |
|  | **Warrant 0.0%** |  |  |  |
|  | **Software 0.0%** |  |  |  |
| <sup>a,c</sup> | Constellation Software, Inc. | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | **Total Investments before Short-Term Investments<br> (Cost $199,779,452)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236966485 |
|  | **Short-Term Investments 23.8%** |  |  |  |
|  | **Money Market Funds 23.8%** |  |  |  |
| <sup>d</sup> | State Street Institutional U.S. Government Money Market Fund, 4.27% | &nbsp;&nbsp;United States | &nbsp;&nbsp;81701982 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81701982 |
|  | **Total Short-Term Investments (Cost $81,701,982)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81701982 |
|  | **Total Investments (Cost $281,481,434) 92.7%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;318668467 |
|  | **Other Assets, less Liabilities 7.3%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24959726 |
|  | **Net Assets 100.0%** |  |  | &nbsp;&nbsp;$343628193 |

---

---

| |
|:---|
| <sup>†</sup>Rounds to less than 0.1% of net assets. |
| <sup>a</sup>Non-income producing. |
| <sup>b</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional buyers or in a public offering registered under the Securities Act of 1933. At June 30, 2025, the aggregate value of these securities was $794,996, representing 0.2% of net assets. |
| <sup>c</sup>Fair valued using significant unobservable inputs. See Note 5 regarding fair value measurements. |
| <sup>d</sup>The rate shown is the annualized seven-day effective yield at period end. |

---

------

FRANKLIN TEMPLETON ETF TRUST

CONSOLIDATED SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

At June 30, 2025, the Fund had the following total return swap contracts outstanding.

#### Total Return Swaps Contracts

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Underlying Instrument** | &nbsp;&nbsp;**Financing Rate** | &nbsp;&nbsp;**Payment<br> Frequency** | &nbsp;&nbsp;**Counterparty** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Notional<br> Value<br> (000)s** | &nbsp;&nbsp;**Value/Unrealized<br> Appreciation<br> (Depreciation)<sup>a</sup>** |
| **OTC Swap Contracts** |  |  |  |  |  |  |
| **Equity Contracts - Short** |  |  |  |  |  |  |
| MSFTLSSP | &nbsp;&nbsp;0.00% | &nbsp;&nbsp;At Maturity | &nbsp;&nbsp;MSCS | &nbsp;&nbsp;July 10, 2025 | &nbsp;&nbsp;192567 | &nbsp;&nbsp;(2789582) |

---

<sup>a</sup>There were no upfront premiums paid or (received), therefore Market Value equals Unrealized Appreciation/(Depreciation).

At June 30, 2025, the Fund had the following forward exchange contracts outstanding.

#### Forward Exchange Contracts

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Currency** | **Counterparty<sup>a</sup>** | &nbsp;&nbsp;**Type** | &nbsp;&nbsp;**Quantity** | &nbsp;&nbsp;**Contract<br> Amount** | &nbsp;&nbsp;**Settlement<br> Date** | &nbsp;&nbsp;**Unrealized<br> Appreciation** | &nbsp;&nbsp;**Unrealized<br> Depreciation** |
| **OTC Forward Exchange Contracts** | **OTC Forward Exchange Contracts** | **OTC Forward Exchange Contracts** | **OTC Forward Exchange Contracts** | **OTC Forward Exchange Contracts** | **OTC Forward Exchange Contracts** | **OTC Forward Exchange Contracts** | **OTC Forward Exchange Contracts** |
| Australian Dollar | MSCO | &nbsp;&nbsp;Sell | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10948353 | &nbsp;&nbsp;$7096361 | &nbsp;&nbsp;9/18/25 | &nbsp;&nbsp;$— | &nbsp;&nbsp;$(90239) |
| Brazilian Real | MSCO | &nbsp;&nbsp;Buy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33886886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5985390 | &nbsp;&nbsp;9/18/25 | &nbsp;&nbsp;&nbsp;&nbsp; 105032 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Canadian Dollar | MSCO | &nbsp;&nbsp;Sell | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43371508 | &nbsp;&nbsp;&nbsp;&nbsp;31859728 | &nbsp;&nbsp;9/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (49779) |
| Czech Koruna | MSCO | &nbsp;&nbsp;Sell | &nbsp;&nbsp;&nbsp;&nbsp;584252911 | &nbsp;&nbsp;&nbsp;&nbsp;27203276 | &nbsp;&nbsp;9/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (608553) |
| Euro | MSCO | &nbsp;&nbsp;Sell | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25681019 | &nbsp;&nbsp;&nbsp;&nbsp;29720155 | &nbsp;&nbsp;9/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (580886) |
| Great British Pound | MSCO | &nbsp;&nbsp;Buy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25486581 | &nbsp;&nbsp;&nbsp;&nbsp;34548386 | &nbsp;&nbsp;9/18/25 | &nbsp;&nbsp;&nbsp;&nbsp; 394338 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Hungarian Forint | MSCO | &nbsp;&nbsp;Buy | &nbsp;&nbsp;2569198471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7361569 | &nbsp;&nbsp;9/18/25 | &nbsp;&nbsp;&nbsp;&nbsp; 152937 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Israeli Shekel | MSCO | &nbsp;&nbsp;Sell | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55063304 | &nbsp;&nbsp;&nbsp;&nbsp;15439784 | &nbsp;&nbsp;9/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (927540) |
| Japanese Yen | MSCO | &nbsp;&nbsp;Sell | &nbsp;&nbsp;1097735730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7690235 | &nbsp;&nbsp;9/18/25 | &nbsp;&nbsp;&nbsp;&nbsp; 23978 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Mexican Peso | MSCO | &nbsp;&nbsp;Buy | &nbsp;&nbsp;&nbsp;&nbsp;470197040 | &nbsp;&nbsp;&nbsp;&nbsp;24561630 | &nbsp;&nbsp;9/18/25 | &nbsp;&nbsp;&nbsp;&nbsp; 123869 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| New Zealand Dollar | MSCO | &nbsp;&nbsp;Sell | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37588066 | &nbsp;&nbsp;&nbsp;&nbsp;22642675 | &nbsp;&nbsp;9/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (234338) |
| Norwegian Krone | MSCO | &nbsp;&nbsp;Buy | &nbsp;&nbsp;&nbsp;&nbsp;236848092 | &nbsp;&nbsp;&nbsp;&nbsp;23572812 | &nbsp;&nbsp;9/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (156933) |
| Polish Zloty | MSCO | &nbsp;&nbsp;Buy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28438414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7659863 | &nbsp;&nbsp;9/18/25 | &nbsp;&nbsp;&nbsp;&nbsp; 195209 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| South African Rand | MSCO | &nbsp;&nbsp;Buy | &nbsp;&nbsp;&nbsp;&nbsp;613198026 | &nbsp;&nbsp;&nbsp;&nbsp;34210937 | &nbsp;&nbsp;9/18/25 | &nbsp;&nbsp;&nbsp;&nbsp; 99459 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| South Korean Won | MSCO | &nbsp;&nbsp;Sell | &nbsp;&nbsp;8317759439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6142521 | &nbsp;&nbsp;9/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (50481) |
| Swedish Krona | MSCO | &nbsp;&nbsp;Sell | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78248001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8246628 | &nbsp;&nbsp;9/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5587) |
| Swiss Franc | MSCO | &nbsp;&nbsp;Sell | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7027069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8690049 | &nbsp;&nbsp;9/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (224049) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Forward Exchange Contracts | &nbsp;&nbsp;&nbsp;&nbsp;Total Forward Exchange Contracts | &nbsp;&nbsp;&nbsp;&nbsp;Total Forward Exchange Contracts | &nbsp;&nbsp;&nbsp;&nbsp;Total Forward Exchange Contracts | &nbsp;&nbsp;&nbsp;&nbsp;Total Forward Exchange Contracts | &nbsp;&nbsp;&nbsp;&nbsp;Total Forward Exchange Contracts | $1094822 | &nbsp;&nbsp;$(2928385) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net unrealized appreciation (depreciation) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(1833563) |

---

<sup>a</sup>May be comprised of multiple contracts with the same counterparty, currency and settlement date.

At June 30, 2025, the Fund had the following futures contracts outstanding.

#### Futures Contracts

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Type** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Notional<br> Amount\*** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value/Unrealized<br> Appreciation<br> (Depreciation)** |
| **Commodity Contracts<sup>a</sup>** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Brent Crude, July | &nbsp;&nbsp; Long | &nbsp;&nbsp; 17 | &nbsp;&nbsp;$1134580 | &nbsp;&nbsp; 7/31/25 | &nbsp;&nbsp;$(12284) |
| &nbsp;&nbsp;&nbsp;&nbsp;Cocoa, September | &nbsp;&nbsp; Long | &nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 180000 | &nbsp;&nbsp; 9/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (686) |
| &nbsp;&nbsp;&nbsp;&nbsp;Coffee 'C', September | &nbsp;&nbsp; Long | &nbsp;&nbsp; 22 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2475825 | &nbsp;&nbsp; 9/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(353146) |
| &nbsp;&nbsp;&nbsp;&nbsp;Copper, September | &nbsp;&nbsp; Long | &nbsp;&nbsp; 16 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2033000 | &nbsp;&nbsp; 9/26/25 | &nbsp;&nbsp;&nbsp;&nbsp; 64960 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gasoline Rbob, July | &nbsp;&nbsp; Long | &nbsp;&nbsp; 13 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1131367 | &nbsp;&nbsp; 7/31/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (23349) |
| &nbsp;&nbsp;&nbsp;&nbsp;Gold 100 Ounce, August | &nbsp;&nbsp; Long | &nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1984620 | &nbsp;&nbsp; 8/27/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (61855) |
| &nbsp;&nbsp;&nbsp;&nbsp;Lean Hogs, July | &nbsp;&nbsp; Long | &nbsp;&nbsp; 49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2157960 | &nbsp;&nbsp; 7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp; 19493 |
| &nbsp;&nbsp;&nbsp;&nbsp;Live Cattle, August | &nbsp;&nbsp; Long | &nbsp;&nbsp; 99 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8469450 | &nbsp;&nbsp; 8/29/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(108064) |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> CONSOLIDATED SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

#### Futures Contracts (continued)<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Commodity Contracts (continued) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Low Sulphur Gasoil, July | &nbsp;&nbsp; Long | &nbsp;&nbsp; 18 | &nbsp;&nbsp;$1218600 | &nbsp;&nbsp; 7/10/25 | &nbsp;&nbsp;$131418 |
| &nbsp;&nbsp;&nbsp;&nbsp;Platinum, October | &nbsp;&nbsp; Long | &nbsp;&nbsp; 42 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2820300 | &nbsp;&nbsp;10/29/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54391 |
| &nbsp;&nbsp;&nbsp;&nbsp;Silver, September | &nbsp;&nbsp; Long | &nbsp;&nbsp; 11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1989460 | &nbsp;&nbsp; 9/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9763 |
| &nbsp;&nbsp;&nbsp;&nbsp;WTI Crude, July | &nbsp;&nbsp; Long | &nbsp;&nbsp; 19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1237090 | &nbsp;&nbsp; 7/22/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(162115) |
| &nbsp;&nbsp;&nbsp;&nbsp;Corn, September | &nbsp;&nbsp;Short | &nbsp;&nbsp; 76 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1555150 | &nbsp;&nbsp; 9/12/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31709 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cotton No. 2, December | &nbsp;&nbsp;Short | &nbsp;&nbsp;215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7323975 | &nbsp;&nbsp;12/08/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(145957) |
| &nbsp;&nbsp;&nbsp;&nbsp;Natural Gas, July | &nbsp;&nbsp;Short | &nbsp;&nbsp; 37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1278720 | &nbsp;&nbsp; 7/29/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 207539 |
| &nbsp;&nbsp;&nbsp;&nbsp;NY Harbor ULSD, July | &nbsp;&nbsp;Short | &nbsp;&nbsp; 23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2198906 | &nbsp;&nbsp; 7/31/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (16510) |
| &nbsp;&nbsp;&nbsp;&nbsp;Soybean Meal, August | &nbsp;&nbsp;Short | &nbsp;&nbsp;255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7032900 | &nbsp;&nbsp; 8/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 276095 |
| &nbsp;&nbsp;&nbsp;&nbsp;Soybean Oil, August | &nbsp;&nbsp;Short | &nbsp;&nbsp; 41 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1295190 | &nbsp;&nbsp; 8/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17589 |
| &nbsp;&nbsp;&nbsp;&nbsp;Soybean, November | &nbsp;&nbsp;Short | &nbsp;&nbsp; 44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2259400 | &nbsp;&nbsp;11/14/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38005 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sugar No. 11, September | &nbsp;&nbsp;Short | &nbsp;&nbsp;198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3592512 | &nbsp;&nbsp; 9/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50417 |
| &nbsp;&nbsp;&nbsp;&nbsp;Wheat, September | &nbsp;&nbsp;Short | &nbsp;&nbsp;233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6270613 | &nbsp;&nbsp; 9/12/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 363364 |
| **Interest rate contracts** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Australian 10 Yr. Bond | &nbsp;&nbsp;Long | &nbsp;&nbsp;407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30572107 | &nbsp;&nbsp;&nbsp;&nbsp;9/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163080 |
| &nbsp;&nbsp;&nbsp;&nbsp;Canada 10 Yr. Bond | &nbsp;&nbsp;Long | &nbsp;&nbsp;213 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19044339 | &nbsp;&nbsp;&nbsp;&nbsp;9/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107492 |
| &nbsp;&nbsp;&nbsp;&nbsp;Euro-BTP | &nbsp;&nbsp;Long | &nbsp;&nbsp;124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17612437 | &nbsp;&nbsp;&nbsp;&nbsp;9/08/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101739 |
| &nbsp;&nbsp;&nbsp;&nbsp;Euro-Bund | &nbsp;&nbsp;Long | &nbsp;&nbsp;114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17416522 | &nbsp;&nbsp;&nbsp;&nbsp;9/08/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(78944) |
| &nbsp;&nbsp;&nbsp;&nbsp;Euro-OAT | &nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6686998 | &nbsp;&nbsp;&nbsp;&nbsp;9/08/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28297 |
| &nbsp;&nbsp;&nbsp;&nbsp;Japan 10 Yr. Bond | &nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49084565 | &nbsp;&nbsp;&nbsp;&nbsp;9/12/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(75881) |
| &nbsp;&nbsp;&nbsp;&nbsp;Long Gilt | &nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;68 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8668884 | &nbsp;&nbsp;&nbsp;&nbsp;9/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(29545) |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury 10 Yr. Note | &nbsp;&nbsp;Short | &nbsp;&nbsp;369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41374125 | &nbsp;&nbsp;&nbsp;&nbsp;9/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(692421) |
| **Index Contracts** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;CAC 40 10 Euro | &nbsp;&nbsp;Long | &nbsp;&nbsp;136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12244658 | &nbsp;&nbsp;&nbsp;&nbsp;7/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(129720) |
| &nbsp;&nbsp;&nbsp;&nbsp;FTSE/JSE Africa Top40 Index | &nbsp;&nbsp;Long | &nbsp;&nbsp;404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20409772 | &nbsp;&nbsp;&nbsp;&nbsp;9/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221971 |
| &nbsp;&nbsp;&nbsp;&nbsp;Hang Seng Index | &nbsp;&nbsp;Long | &nbsp;&nbsp;108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16567338 | &nbsp;&nbsp;&nbsp;&nbsp;7/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(24163) |
| &nbsp;&nbsp;&nbsp;&nbsp;IBEX 35 Index | &nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4575458 | &nbsp;&nbsp;&nbsp;&nbsp;7/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(17389) |
| &nbsp;&nbsp;&nbsp;&nbsp;S&P/TSX 60 Index | &nbsp;&nbsp;Long | &nbsp;&nbsp;123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28845731 | &nbsp;&nbsp;&nbsp;&nbsp;9/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;376534 |
| &nbsp;&nbsp;&nbsp;&nbsp;SPI 200 Index | &nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1538549 | &nbsp;&nbsp;&nbsp;&nbsp;9/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3446) |
| &nbsp;&nbsp;&nbsp;&nbsp;DAX Index | &nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;14 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9880467 | &nbsp;&nbsp;&nbsp;&nbsp;9/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(120720) |
| &nbsp;&nbsp;&nbsp;&nbsp;EURO STOXX 50 Index | &nbsp;&nbsp;Short | &nbsp;&nbsp;293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18321571 | &nbsp;&nbsp;&nbsp;&nbsp;9/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43640 |
| &nbsp;&nbsp;&nbsp;&nbsp;FTSE 100 Index | &nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;96 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11562897 | &nbsp;&nbsp;&nbsp;&nbsp;9/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168632 |
| &nbsp;&nbsp;&nbsp;&nbsp;FTSE/MIB Index | &nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10057753 | &nbsp;&nbsp;&nbsp;&nbsp;9/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14474) |
| &nbsp;&nbsp;&nbsp;&nbsp;Nikkei 225 Mini | &nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3365433 | &nbsp;&nbsp;&nbsp;&nbsp;9/11/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(190295) |
| &nbsp;&nbsp;&nbsp;&nbsp;OMXS30 Index | &nbsp;&nbsp;Short | &nbsp;&nbsp;919 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24039568 | &nbsp;&nbsp;&nbsp;&nbsp;7/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(70707) |
| &nbsp;&nbsp;&nbsp;&nbsp;S+P500 E-Mini | &nbsp;&nbsp;Short | &nbsp;&nbsp;&nbsp;&nbsp;13 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4064938 | &nbsp;&nbsp;&nbsp;&nbsp;9/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(144001) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Futures Contracts |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$456 |

---

---

| |
|:---|
| \*As of period end. |
| <sup>a</sup>The security is owned by FLSP Holdings Corporation., a wholly-owned subsidiary of the Fund. See Note 6. |

---

**The following table represents the individual short positions and related values of the equity securities underlying the total return swap with Morgan Stanley Capital Services LLC as of June 30, 2025, maturity date 7/10/25:** 

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Country** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
| **Reference Entity – Short 100.00%** |  |  |  |
| **Automobiles & Components 4.18%** |  |  |  |
| Aptiv PLC | &nbsp;&nbsp;United States | &nbsp;&nbsp; (5921) | &nbsp;&nbsp;$(403931) |
| Bayerische Motoren Werke AG | &nbsp;&nbsp;Germany | &nbsp;&nbsp; (7505) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (664783) |
| Honda Motor Co., Ltd. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;(109800) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1060030) |
| Rivian Automotive, Inc., A | &nbsp;&nbsp;United States | &nbsp;&nbsp; (19884) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (273206) |
| Stellantis NV | &nbsp;&nbsp;United States | &nbsp;&nbsp; (52162) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (521009) |
| Tesla, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; (8028) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2550174) |
| Toyota Motor Corp. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;(123600) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2133233) |
| Volkswagen AG | &nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5366) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(564506) |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8170872) |
| **Banks 4.49%** |  |  |  |
| Australia & New Zealand Banking Group Ltd. | &nbsp;&nbsp;Australia | &nbsp;&nbsp;&nbsp;&nbsp;(77162) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1474566) |
| First Citizens BancShares Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(248) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(485205) |

---

------

FRANKLIN TEMPLETON ETF TRUST

CONSOLIDATED SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| KeyCorp | &nbsp;&nbsp;United States | &nbsp;&nbsp; (24308) | &nbsp;&nbsp; (423445) |
| National Australia Bank Ltd. | &nbsp;&nbsp;Australia | &nbsp;&nbsp; (79270) | &nbsp;&nbsp; (2044736) |
| National Bank of Canada | &nbsp;&nbsp;Canada | &nbsp;&nbsp; (10000) | &nbsp;&nbsp; (1029828) |
| Oversea-Chinese Banking Corp Ltd. | &nbsp;&nbsp;Singapore | &nbsp;&nbsp; (15000) | &nbsp;&nbsp; (192086) |
| Skandinaviska Enskilda Banken AB, A | &nbsp;&nbsp;Sweden | &nbsp;&nbsp; (40815) | &nbsp;&nbsp; (707059) |
| Sumitomo Mitsui Trust Holdings, Inc. | &nbsp;&nbsp;Japan | &nbsp;&nbsp; (16600) | &nbsp;&nbsp; (441188) |
| Westpac Banking Corp. | &nbsp;&nbsp;Australia | &nbsp;&nbsp; (88633) | &nbsp;&nbsp; (1966780) |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8764893) |
| **Capital Goods 8.65%** |  |  |  |
| Alfa Laval AB | &nbsp;&nbsp;Sweden | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7511) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(313510) |
| Alstom SA | &nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7425) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(172574) |
| Ashtead Group PLC | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;(11195) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(716274) |
| Assa Abloy AB, B | &nbsp;&nbsp;Sweden | &nbsp;&nbsp;&nbsp;&nbsp;(26319) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(815220) |
| Atlas Copco AB | &nbsp;&nbsp;Sweden | &nbsp;&nbsp;&nbsp;&nbsp;(40345) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(569167) |
| Atlas Copco AB | &nbsp;&nbsp;Sweden | &nbsp;&nbsp;&nbsp;&nbsp;(69853) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1120313) |
| Axon Enterprise, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1073) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(888380) |
| Daikin Industries Ltd. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6800) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(801482) |
| Epiroc AB, A | &nbsp;&nbsp;Sweden | &nbsp;&nbsp;&nbsp;&nbsp;(17206) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(370825) |
| Epiroc AB, B | &nbsp;&nbsp;Sweden | &nbsp;&nbsp;&nbsp;&nbsp;(10137) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(192520) |
| FANUC Corp. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;(24300) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(662827) |
| Graco, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3488) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(299863) |
| Honeywell International, Inc | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;(10908) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2540255) |
| IDEX Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1967) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(345346) |
| Melrose Industries PLC | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;(32134) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(233737) |
| Nordson Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1103) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(236450) |
| PACCAR, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;(13525) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1285687) |
| Quanta Services, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3918) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1481317) |
| Saab AB, B | &nbsp;&nbsp;Sweden | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8427) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(466516) |
| Sandvik AB | &nbsp;&nbsp;Sweden | &nbsp;&nbsp;&nbsp;&nbsp;(25959) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(590794) |
| SMC Corp. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1500) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(540413) |
| VAT Group AG | &nbsp;&nbsp;Switzerland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(704) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(296016) |
| Volvo AB | &nbsp;&nbsp;Sweden | &nbsp;&nbsp;&nbsp;&nbsp;(40987) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1141395) |
| Xylem, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6284) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(812898) |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;(16893779) |
| **Commercial & Professional Services 1.01%** |  |  |  |
| Brambles Ltd. | &nbsp;&nbsp;Australia | &nbsp;&nbsp;&nbsp;&nbsp;(35661) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(547336) |
| Element Fleet Management Corp. | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;(10400) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(259981) |
| Equifax, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3244) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(841396) |
| Rentokil Initial PLC | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;(65709) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(317046) |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1965759) |
| **Consumer Discretionary Distribution & Retail 0.63%** |  |  |  |
| Burlington Stores Inc | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1633) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(379901) |
| Genuine Parts Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3611) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(438050) |
| H & M AB, B | &nbsp;&nbsp;Sweden | &nbsp;&nbsp;&nbsp;&nbsp;(14541) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(202772) |
| Nitori Holdings Co. Ltd. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2100) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(202375) |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1223098) |
| **Consumer Durables & Apparel 1.93%** |  |  |  |
| Barratt Redrow PLC | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;(35535) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(222002) |
| DR Horton, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7264) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(936475) |
| Kering SA | &nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1889) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(409244) |
| Nike, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;(31094) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2208918) |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3776639) |
| **Consumer Services 3.30%** |  |  |  |
| Chipotle Mexican Grill, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;(36210) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2033191) |
| DraftKings, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;(11582) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(496752) |
| Lottery Corp Ltd. | &nbsp;&nbsp;Australia | &nbsp;&nbsp;&nbsp;&nbsp;(57803) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(201907) |
| Oriental Land Co. Ltd. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;(28300) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(651246) |
| Restaurant Brands International, Inc. | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8300) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(549461) |
| Starbucks Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;(27323) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2503606) |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6436163) |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> CONSOLIDATED SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Consumer Staples Distribution & Retail 0.84%** |  |  |  |
| Alimentation Couche-Tard, Inc. | &nbsp;&nbsp;Canada | &nbsp;&nbsp; (19900) | &nbsp;&nbsp; (987197) |
| Woolworths Group Ltd. | &nbsp;&nbsp;Australia | &nbsp;&nbsp; (31723) | &nbsp;&nbsp; (646767) |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1633964) |
| **Energy 7.69%** |  |  |  |
| BP PLC | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;(417212) | &nbsp;&nbsp; (2090804) |
| Cameco Corp. | &nbsp;&nbsp;Canada | &nbsp;&nbsp; (10300) | &nbsp;&nbsp; (763385) |
| ConocoPhillips | &nbsp;&nbsp;United States | &nbsp;&nbsp; (27223) | &nbsp;&nbsp; (2442992) |
| Diamondback Energy Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; (4918) | &nbsp;&nbsp; (675733) |
| Eni SpA | &nbsp;&nbsp;Italy | &nbsp;&nbsp;&nbsp;&nbsp;(56235) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(908318) |
| Exxon Mobil Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;(23156) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2496217) |
| Halliburton Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;(21915) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(446628) |
| Hess Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7518) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1041544) |
| ONEOK, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;(16372) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1336446) |
| Santos Ltd. | &nbsp;&nbsp;Australia | &nbsp;&nbsp;&nbsp;&nbsp;(84341) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(423390) |
| Schlumberger NV | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;(35123) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1187157) |
| Tourmaline Oil Corp. | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9200) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(442976) |
| Woodside Energy Group Ltd. | &nbsp;&nbsp;Australia | &nbsp;&nbsp;&nbsp;&nbsp;(49118) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(760637) |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;(15016227) |
| **Equity Real Estate Investment Trusts (REITs) 5.25%** |  |  |  |
| American Tower Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6833) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1510230) |
| Boston Properties, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3996) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(269610) |
| CapitaLand Integrated Commercial Trust REIT | &nbsp;&nbsp;Singapore | &nbsp;&nbsp;(152700) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(260165) |
| Crown Castle, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;(11320) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1162904) |
| Digital Realty Trust, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8734) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1522598) |
| Goodman Group | &nbsp;&nbsp;Australia | &nbsp;&nbsp;&nbsp;&nbsp;(52446) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1176845) |
| Iron Mountain Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7716) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(791430) |
| Realty Income Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;(22871) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1317598) |
| Scentre Group | &nbsp;&nbsp;Australia | &nbsp;&nbsp;(129505) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(302141) |
| Stockland | &nbsp;&nbsp;Australia | &nbsp;&nbsp;&nbsp;&nbsp;(62218) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(218552) |
| Sun Communities, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3302) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(417670) |
| Unibail-Rodamco-Westfield | &nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3134) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(298502) |
| Ventas, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;(11568) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(730519) |
| WP Carey, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4346) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(271103) |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;(10249867) |
| **Financial Services 12.57%** |  |  |  |
| Apollo Global Management, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;(10385) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1473320) |
| Ares Management Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5351) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(926793) |
| ASX Ltd. | &nbsp;&nbsp;Australia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5045) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(230643) |
| Blackrock, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2506) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2629420) |
| Blackstone Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;(17698) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2647267) |
| Capital One Financial Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;(12451) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2649075) |
| Coinebase Global, Inc., A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5085) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1782242) |
| Edenred SE | &nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6267) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(193403) |
| EQT AB | &nbsp;&nbsp;Sweden | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9526) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(315754) |
| FactSet Research Systems, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(639) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(285812) |
| Interactive Brokers Group, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;(11736) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(650292) |
| Intercontinental Exchange, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;(11451) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2100915) |
| Investor AB, B | &nbsp;&nbsp;Sweden | &nbsp;&nbsp;&nbsp;&nbsp;(44827) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1315826) |
| Japan Exchange Group Inc. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;(25800) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(260867) |
| Julius Baer Group Ltd. | &nbsp;&nbsp;Switzerland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5353) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(360722) |
| KKR & CO, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;(16198) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2154820) |
| London Stock Exchange Group PLC | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;(12629) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1840509) |
| LPL Financial Holdings Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2128) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(797936) |
| Macquarie Group Ltd. | &nbsp;&nbsp;Australia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9355) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1402298) |
| Toast, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;(11718) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(518990) |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;(24536904) |
| **Food, Beverage & Tobacco 1.70%** |  |  |  |
| Heineken NV | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7449) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(647232) |
| Hormel Foods Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6109) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(184797) |
| J M Smucker Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2745) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(269559) |
| Kraft Heinz Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;(23539) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(607777) |

---

------

FRANKLIN TEMPLETON ETF TRUST

CONSOLIDATED SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| McCormick & Co, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; (6488) | &nbsp;&nbsp; (491920) |
| Pernod Ricard SA | &nbsp;&nbsp;France | &nbsp;&nbsp; (5087) | &nbsp;&nbsp; (505178) |
| The Hershey Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp; (3718) | &nbsp;&nbsp; (617002) |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3323465) |
| **Health Care Equipment & Services 2.88%** |  |  |  |
| Cochlear Ltd. | &nbsp;&nbsp;Australia | &nbsp;&nbsp; (1692) | &nbsp;&nbsp; (333121) |
| Coloplast A/S | &nbsp;&nbsp;Denmark | &nbsp;&nbsp; (3248) | &nbsp;&nbsp; (307435) |
| Dexcom, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; (10319) | &nbsp;&nbsp; (900745) |
| Humana, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; (3108) | &nbsp;&nbsp; (759844) |
| Labcorp Holdings, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2162) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(567547) |
| Sonic Healthcare Ltd. | &nbsp;&nbsp;Australia | &nbsp;&nbsp;&nbsp;&nbsp;(11831) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(207715) |
| UnitedHealth Group, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8170) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2548795) |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5625202) |
| **Household & Personal Products 0.22%** |  |  |  |
| Essity AB, B | &nbsp;&nbsp;Sweden | &nbsp;&nbsp;&nbsp;&nbsp;(15799) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(434330) |
| **Insurance 2.41%** |  |  |  |
| Aon PLC | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5300) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1890828) |
| Brown & Brown, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6499) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(720544) |
| Fidelity National Financial Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6782) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(380199) |
| Insurance Australia Group Ltd. | &nbsp;&nbsp;Australia | &nbsp;&nbsp;&nbsp;&nbsp;(61424) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(363496) |
| Legal & General Group PLC | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;(151030) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(526930) |
| Willis Towers Watson PLC | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2700) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(827550) |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4709547) |
| **Materials 5.19%** |  |  |  |
| Air Products and Chemicals, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5786) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1631999) |
| Antofagasta PLC | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;(10297) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(255329) |
| Boliden AB | &nbsp;&nbsp;Sweden | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6085) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(188416) |
| Dow, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;(17790) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(471079) |
| DSM-Firmenich AG | &nbsp;&nbsp;Switzerland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4829) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(511641) |
| First Quantum Minerals Ltd. | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;(18600) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(329743) |
| Glencore PLC | &nbsp;&nbsp;Australia | &nbsp;&nbsp;(264878) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1029399) |
| International Paper Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;(12872) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(602796) |
| James Hardie Industries PLC | &nbsp;&nbsp;Australia | &nbsp;&nbsp;&nbsp;&nbsp;(11163) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(305064) |
| Martin Marietta Materials, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1147) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(629657) |
| Norsk Hydro ASA | &nbsp;&nbsp;Norway | &nbsp;&nbsp;&nbsp;&nbsp;(36496) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(207514) |
| Northern Star Resources Ltd. | &nbsp;&nbsp;Australia | &nbsp;&nbsp;&nbsp;&nbsp;(35429) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(430701) |
| Novozymes A/S | &nbsp;&nbsp;Denmark | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8622) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(616012) |
| Sika AG | &nbsp;&nbsp;Switzerland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3973) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1075106) |
| Smurfit Westrock PLC | &nbsp;&nbsp;Ireland | &nbsp;&nbsp;&nbsp;&nbsp;(13400) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(578210) |
| South32 Ltd. | &nbsp;&nbsp;Australia | &nbsp;&nbsp;(116485) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(222145) |
| Svenska Cellulosa AB | &nbsp;&nbsp;Sweden | &nbsp;&nbsp;&nbsp;&nbsp;(15759) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(203387) |
| Symrise AG | &nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3460) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(362044) |
| Teck Resources Ltd., B | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;(12100) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(488345) |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;(10138587) |
| **Media & Entertainment 1.76%** |  |  |  |
| CAR Group Ltd. | &nbsp;&nbsp;Australia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9808) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(240523) |
| News Corp., A | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9854) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(292861) |
| Omnicom Group, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5067) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(364520) |
| Snap, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;(27382) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(237950) |
| Trade Desk, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9589) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(690312) |
| Universal Music Group NV | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;(21493) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(693308) |
| Warner Bros Discovery Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;(63009) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(722083) |
| WPP PLC | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;(28956) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(203399) |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3444956) |
| **Pharmaceuticals, Biotechnology & Life Sciences 8.96%** |  |  |  |
| Argenx SE | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1286) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(709196) |
| Astellas Pharma, Inc. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;(46800) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(458944) |
| AstraZeneca PLC | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;(16392) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2273233) |
| Avantor, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;(17230) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(231916) |
| CSL Ltd. | &nbsp;&nbsp;Australia | &nbsp;&nbsp;&nbsp;&nbsp;(12536) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1967440) |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> CONSOLIDATED SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| Eli Lilly & Co. | &nbsp;&nbsp;United States | &nbsp;&nbsp; (3201) | &nbsp;&nbsp; (2495276) |
| Galderma Group AG | &nbsp;&nbsp;Switzerland | &nbsp;&nbsp; (3107) | &nbsp;&nbsp; (448876) |
| Lonza Group AG | &nbsp;&nbsp;Switzerland | &nbsp;&nbsp; (1099) | &nbsp;&nbsp; (780069) |
| Merck KGaA | &nbsp;&nbsp;Germany | &nbsp;&nbsp; (3340) | &nbsp;&nbsp; (431272) |
| Novo Nordisk AS, B | &nbsp;&nbsp;Denmark | &nbsp;&nbsp; (32860) | &nbsp;&nbsp; (2272768) |
| Pfizer, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; (79901) | &nbsp;&nbsp; (1936800) |
| Sandoz Group AG | &nbsp;&nbsp;Switzerland | &nbsp;&nbsp; (10893) | &nbsp;&nbsp; (594189) |
| Vertex Pharmaceuticals Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; (5553) | &nbsp;&nbsp; (2472196) |
| West Pharmaceutical Services, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; (1889) | &nbsp;&nbsp; (413313) |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;(17485488) |
| **Real Estate Management & Development 0.79%** |  |  |  |
| CoStar Group, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;(10917) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(877727) |
| Vonovia SE | &nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;(19178) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(673337) |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1551064) |
| **Semiconductors & Semiconductor Equipment 12.39%** |  |  |  |
| Advanced Micro Devices Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;(20352) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2887949) |
| Analog Devices, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;(10882) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2590134) |
| ASM International NV | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1133) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(722707) |
| ASML Holding NV | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3196) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2542101) |
| BE Semiconductor Industries NV | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2088) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(311399) |
| Broadcom Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;(10142) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2795642) |
| Entegris, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3659) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(295098) |
| First Solar, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2754) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(455897) |
| Infineon Technologies AG | &nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;(30987) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1313650) |
| Intel Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;(117529) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2632650) |
| Lasertec Corp. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(268753) |
| Marvell Technology, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;(22277) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1724240) |
| Microchip Technology, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;(13418) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(944225) |
| Micron Technology, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;(22328) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2751926) |
| Monolithic Power Systems, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1211) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(885701) |
| ON Semiconductor Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;(10517) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(551196) |
| STMicroelectronics NV | &nbsp;&nbsp;Switzerland | &nbsp;&nbsp;&nbsp;&nbsp;(17118) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(521137) |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;(24194405) |
| **Software & Services 3.36%** |  |  |  |
| Accenture PLC | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7800) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2331342) |
| Dassault Systemes SE | &nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;(17434) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(628886) |
| MongoDB Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2141) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(449589) |
| NTT Data Group Corp. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;(16400) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(454039) |
| Samsara, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7477) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(297435) |
| Synopsys, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3944) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2022010) |
| WiseTech Global Ltd. | &nbsp;&nbsp;Australia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5212) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(372412) |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6555713) |
| **Technology Hardware & Equipment 2.90%** |  |  |  |
| CDW Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3444) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(615064) |
| Dell Technologies Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8365) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1025549) |
| Hexagon AB | &nbsp;&nbsp;Sweden | &nbsp;&nbsp;&nbsp;&nbsp;(53835) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(537537) |
| Keyence Corp. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2002146) |
| Kyocera Corp. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;(33600) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(403237) |
| Pure Storage, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8023) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(461964) |
| Super Micro Computer, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;(12647) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(619830) |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5665327) |
| **Telecommunication Services 1.81%** |  |  |  |
| Cellnex Telecom SA | &nbsp;&nbsp;Spain | &nbsp;&nbsp;&nbsp;&nbsp;(12921) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(499763) |
| Nippon Telegraph & Telephone Corp. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;(776200) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(827545) |
| Rogers Communications, Inc. | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9400) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(278246) |
| SoftBank Group Corp. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;(23700) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1725262) |
| TELUS Corp. | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;(13000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(208362) |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3539178) |

---

------

FRANKLIN TEMPLETON ETF TRUST

CONSOLIDATED SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Transportation 1.28%** |  |  |  |
| Canadian Pacific Kansas City Ltd. | &nbsp;&nbsp;Canada | &nbsp;&nbsp; (24300) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1926547) |
| Kuehne + Nagel International AG | &nbsp;&nbsp;Switzerland | &nbsp;&nbsp; (1255) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (270629) |
| Mitsui OSK Lines Ltd. | &nbsp;&nbsp;Japan | &nbsp;&nbsp; (9000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (300322) |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2497498) |
| **Utilities 3.81%** |  |  |  |
| Constellation Energy Corp. | &nbsp;&nbsp;United States | &nbsp;&nbsp; (1557) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (502537) |
| Dominion Energy, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp; (22213) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1255479) |
| EDP - Energias de Portugal SA | &nbsp;&nbsp;Portugal | &nbsp;&nbsp; (81256) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (351198) |
| Eversource Energy | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9058) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(576270) |
| Kansai Electric Power Co. Inc. | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;(17400) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(205868) |
| National Grid PLC | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;(127947) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1861151) |
| Origin Energy Ltd. | &nbsp;&nbsp;Australia | &nbsp;&nbsp;&nbsp;&nbsp;(44720) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(316225) |
| Power Assets Holdings Ltd. | &nbsp;&nbsp;Hong Kong | &nbsp;&nbsp;&nbsp;&nbsp;(36000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(231363) |
| Sempra | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;(17292) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1310215) |
| Severn Trent PLC | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6439) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(241239) |
| Veolia Environnement SA | &nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;(16360) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(580927) |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7432472) |
| **Total Value of Reference Entity — Morgan Stanley Capital Services LLC** |  |  | &nbsp;&nbsp;$(195265397) |

---

#### Abbreviations

---

| | |
|:---|:---|
| **Selected Portfolio** |  |
| **ADR** | American Depositary Receipt |
| **CAC** | Cotation Assistée en Continu (French Index) |
| **MSCO** | Morgan Stanley |
| **MSCS** | Morgan Stanley Capital Services Inc. |
| **OAT** | Obligation Assumable by the Treasurer |
| **REIT** | Real Estate Investment Trust |
| **SPA** | Standby Purchase Agreement |
| **ULSD** | Ultra-Low Sulfur Diesel |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Franklin U.S. Core Bond ETF** | &nbsp;&nbsp;**Country** | &nbsp;&nbsp;**Principal Amount\*** | &nbsp;&nbsp;**Value** |
|  | **Corporate Bonds & Notes 28.7%** |  |  |  |
|  | **Aerospace & Defense 0.6%** |  |  |  |
|  | Boeing Co., |  |  |  |
|  | 3.60%, 5/01/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;$1763645 |
|  | 3.50%, 3/01/39 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3908439 |
|  | 6.528%, 5/01/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5435916 |
|  | Howmet Aerospace, Inc., 4.85%, 10/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4410770 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15518770 |
|  | **Agriculture 0.7%** |  |  |  |
| <sup>a</sup> | Cargill, Inc., 2.125%, 11/10/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4350614 |
| <sup>a</sup> | Imperial Brands Finance PLC, 3.50%, 7/26/26 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3953546 |
|  | Philip Morris International, Inc., |  |  |  |
|  | 5.375%, 2/15/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3719245 |
|  | 5.25%, 2/13/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5102404 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17125809 |
|  | **Airlines 0.3%** |  |  |  |
|  | American Airlines Pass-Through Trust, Series 2016-3, Class A, 3.25%, 4/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3527563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3310929 |
| <sup>a</sup> | Delta Air Lines, Inc./SkyMiles IP Ltd., first lien, 4.50%, 10/20/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1283440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1280508 |
| <sup>a</sup> | Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets Ltd., 6.50%, 6/20/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1440000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1442789 |
|  | United Airlines Pass-Through Trust, |  |  |  |
|  | Series 2020-1, Class A, 5.875%, 4/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 39750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40595 |
|  | Series 2019-2, Class A, 2.90%, 11/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 750883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 697436 |
|  | Series 2020-1, Class B, 4.875%, 7/15/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 797700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 796778 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7569035 |
|  | **Apparel 0.2%** |  |  |  |
|  | PVH Corp., 5.50%, 6/13/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3526255 |
|  | Tapestry, Inc., 5.50%, 3/11/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1807904 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5334159 |
|  | **Auto Manufacturers 0.4%** |  |  |  |
|  | General Motors Financial Co., Inc., 4.30%, 4/06/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5774321 |
|  | Hyundai Capital America, |  |  |  |
|  | <sup>a</sup> 5.30%, 1/08/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2642748 |
|  | <sup>a</sup> 5.35%, 3/19/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 885000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 902130 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9319199 |
|  | **Banks 6.4%** |  |  |  |
| <sup>a</sup> | ABN AMRO Bank NV, 6.339% to 9/18/26, FRN thereafter, 9/18/27 | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1124205 |
|  | Bank of America Corp., |  |  |  |
|  | 1.922% to 10/24/30, FRN thereafter, 10/24/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2442519 |
|  | 2.687% to 4/22/31, FRN thereafter, 4/22/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2693118 |
|  | 2.592% to 4/29/30, FRN thereafter, 4/29/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2743408 |
|  | 3.974% to 2/07/29, FRN thereafter, 2/07/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 8200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8072735 |
|  | 2.299% to 7/21/31, FRN thereafter, 7/21/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 6200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5404468 |
|  | 4.948% to 7/22/27, FRN thereafter, 7/22/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2731654 |
|  | 5.468% to 1/23/34, FRN thereafter, 1/23/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1027727 |
| <sup>a</sup> | BNP Paribas SA, 5.176% to 1/09/29, FRN thereafter, 1/09/30 | &nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4492855 |
| <sup>a</sup> | BPCE SA, 2.045% to 10/19/26, FRN thereafter, 10/19/27 | &nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3578667 |
| <sup>a,b</sup> | CaixaBank SA, 4.885% to 7/03/30, FRN thereafter, 7/03/31 | &nbsp;&nbsp;Spain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4419097 |
|  | Citigroup, Inc., |  |  |  |
|  | 4.45%, 9/29/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1501749 |
|  | 4.125%, 7/25/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2284172 |
|  | 3.057% to 1/25/32, FRN thereafter, 1/25/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1609223 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| <sup>a</sup> | Danske Bank AS, 5.705% to 3/01/29, FRN thereafter, 3/01/30 | &nbsp;&nbsp;Denmark | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 4151242 |
|  | Deutsche Bank AG, 5.371%, 9/09/27 | &nbsp;&nbsp;Germany | &nbsp;&nbsp; 3700000 | &nbsp;&nbsp; 3796015 |
|  | Fifth Third Bancorp, |  |  |  |
|  | 4.772% to 7/28/29, FRN thereafter, 7/28/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3019350 |
|  | 5.631% to 1/29/31, FRN thereafter, 1/29/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5204864 |
|  | Goldman Sachs Group, Inc., |  |  |  |
|  | 1.948% to 10/21/26, FRN thereafter, 10/21/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5200000 | &nbsp;&nbsp; 5036298 |
|  | 3.691% to 6/05/27, FRN thereafter, 6/05/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2465515 |
|  | 2.383% to 7/21/31, FRN thereafter, 7/21/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 6300000 | &nbsp;&nbsp; 5503807 |
|  | 2.64% to 2/24/27, FRN thereafter, 2/24/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5200000 | &nbsp;&nbsp; 5051947 |
|  | HSBC Holdings PLC, |  |  |  |
|  | 2.013% to 9/22/27, FRN thereafter, 9/22/28 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp; 4100000 | &nbsp;&nbsp; 3887129 |
|  | 2.357% to 8/18/30, FRN thereafter, 8/18/31 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp; 1154888 |
|  | Huntington Bancshares, Inc., 2.55%, 2/04/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4208160 |
|  | JPMorgan Chase & Co., |  |  |  |
|  | 2.956% to 5/13/30, FRN thereafter, 5/13/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 4624776 |
|  | 2.522% to 4/22/30, FRN thereafter, 4/22/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1829062 |
|  | 1.953% to 2/04/31, FRN thereafter, 2/04/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10300000 | &nbsp;&nbsp; 8935059 |
|  | 6.087% to 10/23/28, FRN thereafter, 10/23/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1550000 | &nbsp;&nbsp; 1629401 |
|  | 5.336% to 1/23/34, FRN thereafter, 1/23/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1300000 | &nbsp;&nbsp; 1331233 |
|  | Lloyds Banking Group PLC, 5.871% to 3/06/28, FRN thereafter, 3/06/29 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3101774 |
|  | Mizuho Financial Group, Inc., 5.778% to 7/06/28, FRN thereafter, 7/06/29 | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2804149 |
|  | Morgan Stanley, |  |  |  |
|  | 2.699% to 1/22/30, FRN thereafter, 1/22/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp; 2029147 |
|  | 1.794% to 2/13/31, FRN thereafter, 2/13/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 5134850 |
|  | 2.239% to 7/21/31, FRN thereafter, 7/21/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp; 8662086 |
|  | 3.622% to 4/01/30, FRN thereafter, 4/01/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4300000 | &nbsp;&nbsp; 4124536 |
|  | 5.466% to 1/18/34, FRN thereafter, 1/18/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp; 1023450 |
|  | PNC Financial Services Group, Inc., 5.676% to 1/22/34, FRN thereafter, 1/22/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1050000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1091348 |
|  | Santander U.K. Group Holdings PLC, 1.673% to 6/14/26, FRN thereafter, 6/14/27 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3108916 |
| <sup>a</sup> | Societe Generale SA, 1.792% to 6/09/26, FRN thereafter, 6/09/27 | &nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4186193 |
|  | Truist Financial Corp., |  |  |  |
|  | 1.887% to 6/07/28, FRN thereafter, 6/07/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 2792214 |
|  | 5.153% to 8/05/31, FRN thereafter, 8/05/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5098863 |
|  | UBS Group AG, |  |  |  |
|  | <sup>a</sup> 6.373% to 7/15/25, FRN thereafter, 7/15/26 | &nbsp;&nbsp;Switzerland | &nbsp;&nbsp; 550000 | &nbsp;&nbsp; 550518 |
|  | 4.55%, 4/17/26 | &nbsp;&nbsp;Switzerland | &nbsp;&nbsp; 950000 | &nbsp;&nbsp; 950303 |
|  | <sup>a</sup> 6.246% to 9/22/28, FRN thereafter, 9/22/29 | &nbsp;&nbsp;Switzerland | &nbsp;&nbsp; 3400000 | &nbsp;&nbsp; 3572452 |
|  | Wells Fargo & Co., |  |  |  |
|  | 2.879% to 10/30/29, FRN thereafter, 10/30/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10300000 | &nbsp;&nbsp; 9625960 |
|  | 3.35% to 3/02/32, FRN thereafter, 3/02/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1827056 |
|  | 5.198% to 1/22/29, FRN thereafter, 1/23/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2250000 | &nbsp;&nbsp; 2305145 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;167943303 |
|  | **Biotechnology 0.7%** |  |  |  |
|  | Amgen, Inc., 5.25%, 3/02/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3482868 |
|  | Bio-Rad Laboratories, Inc., 3.30%, 3/15/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;490566 |
|  | Regeneron Pharmaceuticals, Inc., 1.75%, 9/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6950349 |
|  | Royalty Pharma PLC, |  |  |  |
|  | 2.20%, 9/02/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 4433655 |
|  | 2.15%, 9/02/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2600000 | &nbsp;&nbsp; 2234904 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17592342 |
|  | **Building Products 0.1%** |  |  |  |
|  | NVR, Inc., 3.00%, 5/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2329617 |
|  | **Chemicals 0.1%** |  |  |  |
| <sup>a</sup> | Syensqo Finance America LLC, 5.85%, 6/04/34 | &nbsp;&nbsp;Belgium | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3110827 |
|  | **Commercial Services & Supplies 0.2%** |  |  |  |
|  | Boardwalk Pipelines LP, 4.80%, 5/03/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3950000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3995334 |
|  | **Construction Materials 0.3%** |  |  |  |
|  | Owens Corning, 5.70%, 6/15/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7274024 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Diversified REITs 0.1%** |  |  |  |
|  | Essex Portfolio LP, 2.65%, 3/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 3498800 |
|  | **Diversified Telecommunication Services 0.1%** |  |  |  |
|  | Orange SA, 9.00%, 3/01/31 | &nbsp;&nbsp;France | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3646282 |
|  | **Electric 3.0%** |  |  |  |
|  | Constellation Energy Generation LLC, |  |  |  |
|  | 5.80%, 3/01/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 9300000 | &nbsp;&nbsp; 9839827 |
|  | 6.125%, 1/15/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1050000 | &nbsp;&nbsp; 1131507 |
|  | DTE Energy Co., 4.875%, 6/01/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2800000 | &nbsp;&nbsp; 2842039 |
|  | Duke Energy Corp., |  |  |  |
|  | 2.45%, 6/01/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3900000 | &nbsp;&nbsp; 3540411 |
|  | 3.75%, 9/01/46 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 3714666 |
|  | Duke Energy Ohio, Inc., 5.25%, 4/01/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;515966 |
| <sup>a</sup> | Electricite de France SA, 5.70%, 5/23/28 | &nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;618328 |
|  | NextEra Energy Capital Holdings, Inc., |  |  |  |
|  | 5.05%, 2/28/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5043080 |
|  | 5.30%, 3/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4010000 | &nbsp;&nbsp; 4134072 |
|  | 5.45%, 3/15/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6118891 |
|  | Pacific Gas & Electric Co., 3.25%, 6/01/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4489998 |
|  | Public Service Enterprise Group, Inc., 2.45%, 11/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4393371 |
|  | Virginia Electric & Power Co., |  |  |  |
|  | Series B, 3.80%, 9/15/47 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1600000 | &nbsp;&nbsp; 1202739 |
|  | 5.00%, 4/01/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 9000000 | &nbsp;&nbsp; 9100426 |
| <sup>a</sup> | Vistra Operations Co. LLC, 4.30%, 7/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6899763 |
|  | Wisconsin Electric Power Co., 4.60%, 10/01/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2970719 |
|  | Xcel Energy, Inc., |  |  |  |
|  | 4.60%, 6/01/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp; 7339689 |
|  | 5.45%, 8/15/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3300000 | &nbsp;&nbsp; 3368347 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77263839 |
|  | **Electric Utilities 0.7%** |  |  |  |
|  | Enel Finance International NV, |  |  |  |
|  | <sup>a</sup> 3.50%, 4/06/28 | &nbsp;&nbsp;Italy | &nbsp;&nbsp; 2700000 | &nbsp;&nbsp; 2633609 |
|  | <sup>a</sup> 2.50%, 7/12/31 | &nbsp;&nbsp;Italy | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3071840 |
|  | Exelon Corp., 4.05%, 4/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4428640 |
|  | Georgia Power Co., Series 2010-C, 4.75%, 9/01/40 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1304065 |
|  | Southern Co., Series A, 3.70%, 4/30/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5805048 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17243202 |
|  | **Electronic Equipment, Instruments & Components 0.1%** |  |  |  |
|  | Flex Ltd., 4.875%, 5/12/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3014270 |
|  | **Environmental Control 0.2%** |  |  |  |
|  | Republic Services, Inc., 5.00%, 4/01/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5076817 |
|  | **Financial Services 0.7%** |  |  |  |
|  | AerCap Ireland Capital DAC/AerCap Global Aviation Trust, |  |  |  |
|  | 3.30%, 1/30/32 | &nbsp;&nbsp;Ireland | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1813102 |
|  | 3.40%, 10/29/33 | &nbsp;&nbsp;Ireland | &nbsp;&nbsp; 3500000 | &nbsp;&nbsp; 3088343 |
|  | Capital One Financial Corp., 5.463% to 7/26/29, FRN thereafter, 7/26/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9263396 |
|  | Jefferies Financial Group, Inc., 2.625%, 10/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5222951 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19387792 |
|  | **Food 1.2%** |  |  |  |
|  | JBS USA Holding Lux SARL/JBS USA Food Co./JBS Lux Co. SARL, 5.75%, 4/01/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3805616 |
| <sup>a,b</sup> | JBS USA Holding Lux SARL/JBS USA Foods Group Holdings, Inc./JBS USA Food Co., 5.50%, 1/15/36 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4860161 |
|  | Mars, Inc., |  |  |  |
|  | <sup>a</sup> 3.20%, 4/01/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3200000 | &nbsp;&nbsp; 3036461 |
|  | <sup>a</sup> 5.20%, 3/01/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 9440000 | &nbsp;&nbsp; 9557815 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | McCormick & Co., Inc., |  |  |  |
|  | 2.50%, 4/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4200000 | &nbsp;&nbsp; 3849708 |
|  | 4.70%, 10/15/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 4851981 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29961742 |
|  | **Health Care Providers & Services 1.0%** |  |  |  |
|  | Elevance Health, Inc., 2.55%, 3/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 4491226 |
|  | HCA, Inc., |  |  |  |
|  | 2.375%, 7/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp; 3482867 |
|  | 3.625%, 3/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 6500000 | &nbsp;&nbsp; 5998113 |
|  | Icon Investments Six DAC, 6.00%, 5/08/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;373226 |
|  | IQVIA, Inc., 6.25%, 2/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5438373 |
|  | UnitedHealth Group, Inc., |  |  |  |
|  | 2.00%, 5/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 2685340 |
|  | 4.50%, 4/15/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1949879 |
|  | 5.15%, 7/15/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1900000 | &nbsp;&nbsp; 1920094 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26339118 |
|  | **Healthcare-Products 0.2%** |  |  |  |
|  | Baxter International, Inc., 2.539%, 2/01/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5580602 |
|  | **Home Builders 0.2%** |  |  |  |
|  | Toll Brothers Finance Corp., 3.80%, 11/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4466379 |
|  | **Household Products 0.2%** |  |  |  |
|  | Haleon U.S. Capital LLC, 3.625%, 3/24/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6083859 |
|  | **Insurance 1.4%** |  |  |  |
| <sup>a</sup> | AIA Group Ltd., 4.95%, 4/04/33 | &nbsp;&nbsp;Hong Kong | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;609242 |
|  | Arthur J Gallagher & Co., 5.45%, 7/15/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5114700 |
| <sup>a</sup> | Athene Global Funding, 2.673%, 6/07/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5271481 |
|  | Brown & Brown, Inc., |  |  |  |
|  | 2.375%, 3/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 1761878 |
|  | 5.25%, 6/23/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 715000 | &nbsp;&nbsp; 729660 |
|  | 5.55%, 6/23/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1280000 | &nbsp;&nbsp; 1305751 |
|  | Corebridge Financial, Inc., |  |  |  |
|  | 3.90%, 4/05/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1408968 |
|  | 6.05%, 9/15/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp; 2527753 |
| <sup>a</sup> | Corebridge Global Funding, 5.90%, 9/19/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2091611 |
| <sup>a</sup> | Five Corners Funding Trust II, 2.85%, 5/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6501407 |
| <sup>a</sup> | Metropolitan Life Global Funding I, 4.30%, 8/25/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1394932 |
| <sup>a</sup> | New York Life Global Funding, 4.85%, 1/09/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1221190 |
|  | Reinsurance Group of America, Inc., 3.90%, 5/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2209731 |
| <sup>a</sup> | RGA Global Funding, 5.50%, 1/11/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2167500 |
| <sup>a</sup> | Sammons Financial Group, Inc., 6.875%, 4/15/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2682781 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36998585 |
|  | **IT Services 0.0%<sup>†</sup>** |  |  |  |
|  | Hewlett Packard Enterprise Co., 4.85%, 10/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1097641 |
|  | **Leisure Time 0.3%** |  |  |  |
| <sup>a</sup> | Royal Caribbean Cruises Ltd., 5.50%, 4/01/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6584942 |
|  | **Lodging 0.1%** |  |  |  |
|  | Marriott International, Inc., 5.30%, 5/15/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1417674 |
|  | **Machinery-Diversified 0.2%** |  |  |  |
|  | Ingersoll Rand, Inc., 5.70%, 8/14/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4400771 |
|  | Westinghouse Air Brake Technologies Corp., 4.70%, 9/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2011992 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6412763 |
|  | **Media 0.6%** |  |  |  |
|  | Charter Communications Operating LLC/Charter Communications Operating Capital, |  |  |  |
|  | 2.80%, 4/01/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 4460217 |
|  | 3.50%, 3/01/42 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp; 1070221 |
|  | 4.40%, 4/01/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2600000 | &nbsp;&nbsp; 2449042 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Paramount Global, 4.20%, 5/19/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 7000000 | &nbsp;&nbsp; 6391597 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14371077 |
|  | **Mining 0.3%** |  |  |  |
|  | Rio Tinto Finance USA PLC, 5.00%, 3/14/32 | &nbsp;&nbsp;Australia | &nbsp;&nbsp; 7750000 | &nbsp;&nbsp; 7889565 |
|  | **Multi-Utilities 0.1%** |  |  |  |
|  | Berkshire Hathaway Energy Co., 3.70%, 7/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp; 2426823 |
|  | **Oil & Gas 0.9%** |  |  |  |
| <sup>a</sup> | Aker BP ASA, 3.10%, 7/15/31 | &nbsp;&nbsp;Norway | &nbsp;&nbsp; 4700000 | &nbsp;&nbsp; 4199532 |
|  | Canadian Natural Resources Ltd., 2.95%, 7/15/30 | &nbsp;&nbsp;Canada | &nbsp;&nbsp; 6300000 | &nbsp;&nbsp; 5781058 |
|  | Hess Corp., 7.125%, 3/15/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5217781 |
|  | TotalEnergies Capital SA, 4.724%, 9/10/34 | &nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4075682 |
| <sup>a</sup> | Var Energi ASA, 8.00%, 11/15/32 | &nbsp;&nbsp;Norway | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4310809 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23584862 |
|  | **Oil, Gas & Consumable Fuels 0.3%** |  |  |  |
|  | Cheniere Energy, Inc., 5.65%, 4/15/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2766587 |
|  | Sabine Pass Liquefaction LLC, 4.20%, 3/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3979768 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6746355 |
|  | **Packaging & Containers 0.1%** |  |  |  |
|  | Amcor Flexibles North America, Inc., 2.63%, 6/19/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3177629 |
|  | **Personal Care Products 0.2%** |  |  |  |
|  | Kenvue, Inc., 4.85%, 5/22/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4860390 |
|  | **Pharmaceuticals 0.9%** |  |  |  |
|  | AbbVie, Inc., 4.50%, 5/14/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4833000 |
| <sup>a</sup> | Bayer U.S. Finance II LLC, 4.375%, 12/15/28 | &nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5450132 |
|  | CVS Health Corp., |  |  |  |
|  | 4.875%, 7/20/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1400000 | &nbsp;&nbsp; 1341600 |
|  | 1.875%, 2/28/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 5137758 |
|  | 2.125%, 9/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 2567344 |
|  | 5.30%, 6/01/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp; 2017762 |
|  | Pfizer Investment Enterprises Pte. Ltd., 4.75%, 5/19/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1695579 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23043175 |
|  | **Pipelines 1.4%** |  |  |  |
| <sup>a</sup> | DT Midstream, Inc., 5.80%, 12/15/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3669343 |
|  | Eastern Energy Gas Holdings LLC, 5.80%, 1/15/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6825000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7107563 |
|  | Energy Transfer LP, |  |  |  |
|  | 6.40%, 12/01/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5800000 | &nbsp;&nbsp; 6252962 |
|  | 5.55%, 5/15/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2300000 | &nbsp;&nbsp; 2329689 |
|  | Kinder Morgan, Inc., 2.00%, 2/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3580058 |
|  | MPLX LP, 5.40%, 4/01/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8938770 |
|  | Targa Resources Corp., 6.50%, 3/30/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5375588 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37253973 |
|  | **Real Estate Investment Trusts (REITs) 0.2%** |  |  |  |
|  | Alexandria Real Estate Equities, Inc., 1.875%, 2/01/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3199821 |
| <sup>a</sup> | Prologis Targeted U.S. Logistics Fund LP, 5.25%, 4/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1233310 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4433131 |
|  | **Real Estate Management & Development 0.6%** |  |  |  |
|  | American Tower Corp., 5.35%, 3/15/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7886905 |
|  | Simon Property Group LP, 2.20%, 2/01/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1774250 |
|  | VICI Properties LP, 4.95%, 2/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5031442 |
| <sup>a</sup> | VICI Properties LP/VICI Note Co., Inc., 3.875%, 2/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1935955 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16628552 |
|  | **Retail 0.6%** |  |  |  |
| <sup>a</sup> | 7-Eleven, Inc., 1.30%, 2/10/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5996520 |
|  | Dick's Sporting Goods, Inc., 3.15%, 1/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5829535 |
|  | Dollar Tree, Inc., 4.20%, 5/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4953963 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16780018 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Semiconductors 0.4%** |  |  |  |
|  | Foundry JV Holdco LLC, |  |  |  |
|  | <sup>a</sup> 6.25%, 1/25/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3600000 | &nbsp;&nbsp; 3785317 |
|  | <sup>a</sup> 5.90%, 1/25/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1530000 | &nbsp;&nbsp; 1587543 |
|  | Marvell Technology, Inc., 4.75%, 7/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 6000000 | &nbsp;&nbsp; 6028358 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11401218 |
|  | **Software 0.7%** |  |  |  |
|  | Fiserv, Inc., |  |  |  |
|  | 3.50%, 7/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp; 1734479 |
|  | 2.65%, 6/01/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4700000 | &nbsp;&nbsp; 4309129 |
| <sup>a</sup> | MSCI, Inc., 3.25%, 8/15/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3771160 |
|  | Oracle Corp., 2.875%, 3/25/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4562096 |
|  | Synopsys, Inc., 5.00%, 4/01/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4265000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4321919 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18698783 |
|  | **Telecommunications 1.5%** |  |  |  |
|  | AT&T, Inc., 2.55%, 12/01/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;17800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14903337 |
|  | Motorola Solutions, Inc., 5.40%, 4/15/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7142032 |
|  | Rogers Communications, Inc., 3.80%, 3/15/32 | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5577987 |
|  | T-Mobile USA, Inc., |  |  |  |
|  | 3.875%, 4/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 2914571 |
|  | 5.05%, 7/15/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp; 5035974 |
|  | Verizon Communications, Inc., 1.75%, 1/20/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4309714 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39883615 |
|  | **Trucking & Leasing 0.2%** |  |  |  |
| <sup>a</sup> | SMBC Aviation Capital Finance DAC, 5.10%, 4/01/30 | &nbsp;&nbsp;Ireland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6093538 |
|  | **Total Corporate Bonds & Notes (Cost $747,804,036)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;748459430 |
|  | **U.S. Government & Agency Securities 67.4%** |  |  |  |
|  | Federal Farm Credit Banks Funding Corp., 2.10%, 2/25/36 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3126764 |
|  | Federal Home Loan Mortgage Corp., |  |  |  |
|  | 2.00%, 4/01/37 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2266884 | &nbsp;&nbsp; 2072665 |
|  | 2.00%, 8/01/37 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4091982 | &nbsp;&nbsp; 3741364 |
|  | 2.00%, 3/01/51 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 25817850 | &nbsp;&nbsp; 20634366 |
|  | 2.00%, 5/01/51 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 9989976 | &nbsp;&nbsp; 7954647 |
|  | 2.00%, 8/01/51 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4785159 | &nbsp;&nbsp; 3809200 |
|  | 2.00%, 1/01/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2413838 | &nbsp;&nbsp; 1913386 |
|  | 2.00%, 1/01/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 702930 | &nbsp;&nbsp; 557194 |
|  | 2.00%, 4/01/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4550384 | &nbsp;&nbsp; 3614260 |
|  | 2.00%, 8/01/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 22870992 | &nbsp;&nbsp; 18158303 |
|  | 2.50%, 5/01/37 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3132615 | &nbsp;&nbsp; 2926239 |
|  | 2.50%, 3/01/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 6008275 | &nbsp;&nbsp; 4999273 |
|  | 2.50%, 4/01/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 13986579 | &nbsp;&nbsp; 11634433 |
|  | 2.50%, 7/01/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3077893 | &nbsp;&nbsp; 2555401 |
|  | 3.00%, 4/01/37 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 365846 | &nbsp;&nbsp; 349036 |
|  | 3.00%, 6/01/37 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1461652 | &nbsp;&nbsp; 1394481 |
|  | 3.00%, 8/01/37 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 417344 | &nbsp;&nbsp; 398163 |
|  | 3.00%, 9/01/37 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 561083 | &nbsp;&nbsp; 535293 |
|  | 3.00%, 3/01/50 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5264253 | &nbsp;&nbsp; 4633664 |
|  | 3.00%, 3/01/50 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4688187 | &nbsp;&nbsp; 4135304 |
|  | 3.00%, 3/01/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1018780 | &nbsp;&nbsp; 882681 |
|  | 3.00%, 9/01/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 9133806 | &nbsp;&nbsp; 7921907 |
|  | 3.50%, 2/01/47 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1218161 | &nbsp;&nbsp; 1121190 |
|  | 3.50%, 2/01/47 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2284317 | &nbsp;&nbsp; 2112943 |
|  | 3.50%, 3/01/48 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1424567 | &nbsp;&nbsp; 1307608 |
|  | 3.50%, 3/01/48 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2929137 | &nbsp;&nbsp; 2692584 |
|  | 3.50%, 4/01/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2670373 | &nbsp;&nbsp; 2406690 |
|  | 3.50%, 7/01/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4129843 | &nbsp;&nbsp; 3722272 |
|  | 3.50%, 12/01/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2820004 | &nbsp;&nbsp; 2543633 |
|  | 3.50%, 8/01/53 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 7461576 | &nbsp;&nbsp; 6727641 |
|  | 4.00%, 1/01/40 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2600724 | &nbsp;&nbsp; 2544651 |
|  | 4.00%, 11/01/45 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2024436 | &nbsp;&nbsp; 1921075 |
|  | 4.00%, 6/01/48 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4153917 | &nbsp;&nbsp; 3940529 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| 4.00%, 5/01/50 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4484685 | &nbsp;&nbsp; 4259149 |
| 4.00%, 9/01/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4127672 | &nbsp;&nbsp; 3848281 |
| 4.00%, 10/01/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3180385 | &nbsp;&nbsp; 2964783 |
| 4.00%, 1/01/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3419013 | &nbsp;&nbsp; 3185687 |
| 4.50%, 8/01/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 609454 | &nbsp;&nbsp; 584376 |
| 4.50%, 10/01/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5291895 | &nbsp;&nbsp; 5074331 |
| 4.50%, 2/01/53 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 11751900 | &nbsp;&nbsp; 11270408 |
| 5.00%, 12/01/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2599250 | &nbsp;&nbsp; 2549719 |
| 5.00%, 1/01/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 395832 | &nbsp;&nbsp; 388166 |
| 5.50%, 3/01/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5628054 | &nbsp;&nbsp; 5632188 |
| 5.50%, 11/01/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 9390021 | &nbsp;&nbsp; 9396920 |
| 6.00%, 1/01/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 13749241 | &nbsp;&nbsp; 13981932 |
| 6.00%, 2/01/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 7350415 | &nbsp;&nbsp; 7474315 |
| Federal National Mortgage Association, |  |  |  |
| 1.50%, 9/01/51 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3832360 | &nbsp;&nbsp; 2887681 |
| 2.00%, 5/01/36 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 8292589 | &nbsp;&nbsp; 7603008 |
| 2.00%, 4/01/37 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 361125 | &nbsp;&nbsp; 330184 |
| 2.00%, 7/01/51 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 19206296 | &nbsp;&nbsp; 15291163 |
| 2.00%, 8/01/51 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 12588356 | &nbsp;&nbsp; 10020901 |
| 2.00%, 10/01/51 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 17687814 | &nbsp;&nbsp; 14030964 |
| 2.00%, 2/01/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2798287 | &nbsp;&nbsp; 2218131 |
| 2.00%, 2/01/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 8516319 | &nbsp;&nbsp; 6761258 |
| 2.00%, 3/01/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5629059 | &nbsp;&nbsp; 4466559 |
| 2.50%, 7/01/37 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3336702 | &nbsp;&nbsp; 3136447 |
| 2.50%, 4/01/51 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 23186653 | &nbsp;&nbsp; 19374222 |
| 2.50%, 7/01/51 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 6150757 | &nbsp;&nbsp; 5130723 |
| 2.50%, 8/01/51 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3850923 | &nbsp;&nbsp; 3206222 |
| 2.50%, 12/01/51 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 13703989 | &nbsp;&nbsp; 11393260 |
| 2.50%, 2/01/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1403219 | &nbsp;&nbsp; 1168040 |
| 2.50%, 3/01/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10049630 | &nbsp;&nbsp; 8361949 |
| 2.50%, 4/01/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4543837 | &nbsp;&nbsp; 3780143 |
| 3.00%, 9/01/37 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 416881 | &nbsp;&nbsp; 397720 |
| 3.00%, 9/01/37 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3346931 | &nbsp;&nbsp; 3199840 |
| 3.00%, 10/01/37 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3663859 | &nbsp;&nbsp; 3495452 |
| 3.00%, 4/01/50 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4885796 | &nbsp;&nbsp; 4331557 |
| 3.00%, 9/01/50 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4107906 | &nbsp;&nbsp; 3608659 |
| 3.00%, 11/01/51 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4493047 | &nbsp;&nbsp; 3911568 |
| 3.00%, 5/01/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3729330 | &nbsp;&nbsp; 3234237 |
| 3.00%, 3/01/53 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 7835574 | &nbsp;&nbsp; 6792995 |
| 3.50%, 6/01/49 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 506877 | &nbsp;&nbsp; 464603 |
| 3.50%, 8/01/49 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 8098415 | &nbsp;&nbsp; 7434398 |
| 3.50%, 11/01/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1542726 | &nbsp;&nbsp; 1390393 |
| 3.50%, 12/01/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 12581754 | &nbsp;&nbsp; 11339390 |
| 4.00%, 2/01/49 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 327777 | &nbsp;&nbsp; 312072 |
| 4.00%, 10/01/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 8567338 | &nbsp;&nbsp; 7974176 |
| 4.00%, 6/01/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1346810 | &nbsp;&nbsp; 1253221 |
| 4.50%, 7/01/47 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4295776 | &nbsp;&nbsp; 4198841 |
| 4.50%, 5/01/48 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2135277 | &nbsp;&nbsp; 2084495 |
| 4.50%, 12/01/48 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3017471 | &nbsp;&nbsp; 2934931 |
| 4.50%, 2/01/50 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1298529 | &nbsp;&nbsp; 1265145 |
| 4.50%, 11/01/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5933646 | &nbsp;&nbsp; 5690127 |
| 5.00%, 10/01/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2910608 | &nbsp;&nbsp; 2868139 |
| 5.00%, 1/01/53 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4891585 | &nbsp;&nbsp; 4820212 |
| 5.00%, 5/01/53 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3088269 | &nbsp;&nbsp; 3037344 |
| 5.00%, 8/01/53 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4090248 | &nbsp;&nbsp; 4021078 |
| 5.00%, 10/01/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 18376210 | &nbsp;&nbsp; 18027465 |
| 5.00%, 11/01/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2599704 | &nbsp;&nbsp; 2549963 |
| 5.00%, 12/01/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2600756 | &nbsp;&nbsp; 2551196 |
| 5.00%, 1/01/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2600255 | &nbsp;&nbsp; 2550505 |
| 5.00%, 6/01/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 629762 | &nbsp;&nbsp; 617564 |
| 5.50%, 5/01/53 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 7502261 | &nbsp;&nbsp; 7518400 |
| 5.50%, 11/01/53 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 22827429 | &nbsp;&nbsp; 22864774 |
| 5.50%, 6/01/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20697051 | &nbsp;&nbsp; 20712256 |
| 5.50%, 10/01/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 6914445 | &nbsp;&nbsp; 6919526 |
| 5.50%, 12/01/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2546104 | &nbsp;&nbsp; 2547975 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| 5.50%, 5/01/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5286347 | &nbsp;&nbsp; 5288993 |
| 6.00%, 8/01/53 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 6786705 | &nbsp;&nbsp; 6912408 |
| 6.00%, 9/01/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2427607 | &nbsp;&nbsp; 2468889 |
| Government National Mortgage Association, |  |  |  |
| 2.00%, 10/20/50 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 11718825 | &nbsp;&nbsp; 9553888 |
| 2.00%, 2/20/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4447140 | &nbsp;&nbsp; 3625950 |
| 2.00%, 4/20/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2887865 | &nbsp;&nbsp; 2354248 |
| 2.00%, 5/20/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 7968313 | &nbsp;&nbsp; 6495929 |
| 2.50%, 9/20/46 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 866455 | &nbsp;&nbsp; 754262 |
| 2.50%, 1/20/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 13344435 | &nbsp;&nbsp; 11351316 |
| 2.50%, 4/20/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 7793463 | &nbsp;&nbsp; 6629399 |
| 2.50%, 6/20/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2995037 | &nbsp;&nbsp; 2547686 |
| 3.00%, 4/20/45 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 6302551 | &nbsp;&nbsp; 5672839 |
| 3.00%, 6/20/45 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4186378 | &nbsp;&nbsp; 3764200 |
| 3.00%, 2/20/51 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3511791 | &nbsp;&nbsp; 3118532 |
| 3.00%, 11/20/51 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5149332 | &nbsp;&nbsp; 4559916 |
| 3.50%, 10/20/47 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5699560 | &nbsp;&nbsp; 5268389 |
| 3.50%, 5/20/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4980858 | &nbsp;&nbsp; 4546190 |
| 3.50%, 6/20/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2210839 | &nbsp;&nbsp; 2018246 |
| 4.00%, 6/20/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 6031720 | &nbsp;&nbsp; 5638932 |
| 4.50%, 5/20/53 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5867896 | &nbsp;&nbsp; 5651467 |
| 4.50%, 9/20/53 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5895034 | &nbsp;&nbsp; 5661849 |
| 5.00%, 9/20/53 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2909124 | &nbsp;&nbsp; 2863370 |
| 5.00%, 10/20/53 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4372175 | &nbsp;&nbsp; 4316649 |
| 5.00%, 9/20/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 7280930 | &nbsp;&nbsp; 7158702 |
| 5.00%, 10/20/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 9921052 | &nbsp;&nbsp; 9754503 |
| 5.00%, 11/20/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5857505 | &nbsp;&nbsp; 5759173 |
| 5.50%, 5/20/53 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 6147831 | &nbsp;&nbsp; 6189630 |
| 5.50%, 7/20/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 7655369 | &nbsp;&nbsp; 7674279 |
| 5.50%, 8/20/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5539556 | &nbsp;&nbsp; 5555964 |
| 5.50%, 9/20/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 16614431 | &nbsp;&nbsp; 16667827 |
| 6.00%, 1/20/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 7452010 | &nbsp;&nbsp; 7568985 |
| 6.00%, 2/20/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3670152 | &nbsp;&nbsp; 3727878 |
| 6.00%, 3/20/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 13867857 | &nbsp;&nbsp; 14085542 |
| 6.00%, 5/20/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10760959 | &nbsp;&nbsp; 10932331 |
| 6.50%, 6/20/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 7180000 | &nbsp;&nbsp; 7384857 |
| U.S. Treasury Bonds, |  |  |  |
| 1.125%, 5/15/40 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 6825000 | &nbsp;&nbsp; 4245363 |
| 1.125%, 8/15/40 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 21200000 | &nbsp;&nbsp; 13048766 |
| 1.25%, 5/15/50 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 53230000 | &nbsp;&nbsp; 25591986 |
| 1.375%, 8/15/50 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 68475000 | &nbsp;&nbsp; 33782784 |
| 1.875%, 2/15/51 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp; 1180266 |
| 1.875%, 11/15/51 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4890000 | &nbsp;&nbsp; 2722355 |
| 2.00%, 11/15/41 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 39050000 | &nbsp;&nbsp; 26868231 |
| 2.00%, 2/15/50 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 21250000 | &nbsp;&nbsp; 12486035 |
| 2.00%, 8/15/51 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4900000 | &nbsp;&nbsp; 2826496 |
| 2.25%, 8/15/46 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10314000 | &nbsp;&nbsp; 6760102 |
| 2.25%, 8/15/49 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 16105000 | &nbsp;&nbsp; 10107775 |
| 2.25%, 2/15/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 8835000 | &nbsp;&nbsp; 5399358 |
| 2.75%, 8/15/42 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 19789000 | &nbsp;&nbsp; 15148634 |
| 2.75%, 11/15/42 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 12800000 | &nbsp;&nbsp; 9754500 |
| 2.75%, 11/15/47 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 9720000 | &nbsp;&nbsp; 6914869 |
| 3.00%, 11/15/44 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 64295000 | &nbsp;&nbsp; 49529754 |
| 3.00%, 2/15/49 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 40038000 | &nbsp;&nbsp; 29512385 |
| 3.625%, 2/15/53 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 18000000 | &nbsp;&nbsp; 14699531 |
| 3.625%, 5/15/53 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 9950000 | &nbsp;&nbsp; 8118578 |
| 4.125%, 8/15/53 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 14000000 | &nbsp;&nbsp; 12509766 |
| 4.25%, 2/15/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 13880000 | &nbsp;&nbsp; 12665500 |
| 4.75%, 11/15/43 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2100000 | &nbsp;&nbsp; 2098441 |
| U.S. Treasury Notes, |  |  |  |
| 0.375%, 11/30/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 27150000 | &nbsp;&nbsp; 26716576 |
| 0.375%, 1/31/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 63700000 | &nbsp;&nbsp; 62300787 |
| 0.50%, 6/30/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 34250000 | &nbsp;&nbsp; 32144829 |
| 0.875%, 6/30/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 73300000 | &nbsp;&nbsp; 71076437 |
| 1.25%, 12/31/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp;176185000 | &nbsp;&nbsp; 169626239 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | 1.25%, 5/31/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 30170000 | &nbsp;&nbsp; 28150024 |
|  | 1.375%, 12/31/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20100000 | &nbsp;&nbsp; 18572871 |
|  | 1.375%, 11/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp; 2053969 |
|  | 2.25%, 8/15/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 6800000 | &nbsp;&nbsp; 6597062 |
|  | 2.75%, 8/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 12400000 | &nbsp;&nbsp; 11441422 |
|  | 3.25%, 6/30/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;123565000 | &nbsp;&nbsp; 122474153 |
|  | 3.50%, 4/30/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 14230000 | &nbsp;&nbsp; 14154959 |
|  | 3.75%, 5/31/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 46000000 | &nbsp;&nbsp; 45905664 |
|  | 3.75%, 6/30/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 9950000 | &nbsp;&nbsp; 9926680 |
|  | 3.875%, 8/15/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 591047 |
|  | 3.875%, 8/15/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 16950000 | &nbsp;&nbsp; 16554721 |
|  | 4.00%, 10/31/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 36853000 | &nbsp;&nbsp; 37212892 |
|  | 4.125%, 7/31/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 24200000 | &nbsp;&nbsp; 24496828 |
|  | 4.125%, 8/31/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 32300000 | &nbsp;&nbsp; 32773145 |
|  | **Total U.S. Government & Agency Securities (Cost $1,818,555,151)** |  |  | &nbsp;&nbsp;1757945165 |
|  | **Municipal Bonds 0.7%** |  |  |  |
|  | **California 0.7%** |  |  |  |
|  | Golden State Tobacco Securitization Corp., Subordinate Bond, Refunding, Series 2021, 3.85%, 6/01/50 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4330000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3942220 |
|  | San Bernardino Community College District, |  |  |  |
|  | Refunding, 2.686%, 8/01/41 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 6140000 | &nbsp;&nbsp; 4510394 |
|  | Refunding, 2.856%, 8/01/49 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3575000 | &nbsp;&nbsp; 2331181 |
|  | Whittier City School District, Refunding, 3.306%, 8/01/43 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5850617 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16634412 |
|  | **Ohio 0.0%<sup>†</sup>** |  |  |  |
|  | Greenville City School District, Refunding, 3.541%, 1/01/51 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1295000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;978088 |
|  | **Total Municipal Bonds (Cost $22,726,916)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17612500 |
|  | **Asset-Backed Security 0.2%** |  |  |  |
| <sup>a</sup> | New Economy Assets - Phase 1 Sponsor LLC, Series 2021-1, Class A1, 1.91%, 10/20/61 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6660000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6289432 |
|  | **Total Asset-Backed Securities (Cost $6,629,885)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6289432 |
|  | **Commercial Mortgage-Backed Securities 1.4%** |  |  |  |
| <sup>c</sup> | Bank, Series 2022-BNK40, Class A4, 3.504%, 3/15/64 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2575996 |
| <sup>b,c</sup> | BANK5, Series 2025-5YR15, Class XA, 1.439%, 6/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;19953000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1051463 |
| <sup>c</sup> | Benchmark Mortgage Trust, Series 2022-B32, Class A5, 3.002%, 1/15/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5560000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4897278 |
| <sup>c</sup> | BMO Mortgage Trust, Series 2025-5C11, Class XA, IO, 1.11%, 7/15/58 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;58210939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2892897 |
|  | BX Commercial Mortgage Trust, |  |  |  |
|  | <sup>a,c</sup> Series 2021-VOLT, Class B, 1 mo. USD Term SOFR + 1.06%, 5.376%, 9/15/36 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3090562 | &nbsp;&nbsp; 3079267 |
|  | <sup>a,c</sup> Series 2022-LP2, Class A, 1 mo. USD Term SOFR + 1.01%, 5.325%, 2/15/39 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1695118 | &nbsp;&nbsp; 1695142 |
| <sup>a,c</sup> | BX Mortgage Trust, Series 2021-PAC, Class A, 1 mo. USD Term SOFR + 0.80%, 5.116%, 10/15/36 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3090000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3084182 |
| <sup>a,c</sup> | BX Trust, Series 2022-IND, Class A, 1 mo. USD Term SOFR + 1.49%, 5.803%, 4/15/37 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2976425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2981111 |
|  | CFCRE Commercial Mortgage Trust, Series 2016-C7, Class A3, 3.839%, 12/10/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1870000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1844198 |
|  | Citigroup Commercial Mortgage Trust, Series 2016-P4, Class A2, 2.45%, 7/10/49 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1195501 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1177097 |
|  | CSAIL Commercial Mortgage Trust, |  |  |  |
|  | Series 2015-C3, Class A4, 3.718%, 8/15/48 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2473114 | &nbsp;&nbsp; 2463502 |
|  | <sup>c</sup> Series 2015-C2, Class AS, 3.849%, 6/15/57 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1113832 | &nbsp;&nbsp; 1099795 |
|  | GS Mortgage Securities Trust, Series 2016-GS2, Class A4, 3.05%, 5/10/49 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;839081 |
|  | JPMBB Commercial Mortgage Securities Trust, |  |  |  |
|  | Series 2016-C1, Class A5, 3.576%, 3/17/49 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2773000 | &nbsp;&nbsp; 2750268 |
|  | Series 2015-C31, Class A3, 3.801%, 8/15/48 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 653371 | &nbsp;&nbsp; 651953 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C27, Class AS, 4.068%, 12/15/47 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1304000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1295387 |
|  | Wells Fargo Commercial Mortgage Trust, |  |  |  |
|  | Series 2015-C31, Class A4, 3.695%, 11/15/48 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 995915 |
|  | <sup>c</sup> Series 2016-C32, Class B, 4.858%, 1/15/59 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 1801000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1783776 |
|  | **Total Commercial Mortgage-Backed Securities (Cost $37,726,246)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37158308 |
|  | **Total Investments before Short-Term Investments (Cost $2,633,442,234)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2567464835 |
|  |  |  | &nbsp;&nbsp;**Shares** |  |
|  | **Short-Term Investments 1.0%** |  |  |  |
|  | **Money Market Funds 1.0%** |  |  |  |
| <sup>d,e</sup> | Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;24954320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24954320 |
|  | **Total Short-Term Investments (Cost $24,954,320)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24954320 |
|  | **Total Investments (Cost $2,658,396,554) 99.4%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2592419155 |
|  | **Other Assets, less Liabilities 0.6%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15966867 |
|  | **Net Assets 100.0%** |  |  | &nbsp;&nbsp;$2608386022 |

---

---

| |
|:---|
| <sup>†</sup>Rounds to less than 0.1% of net assets. |
| \*The principal amount is stated in U.S. dollars unless otherwise indicated. |
| <sup>a</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional buyers or in a public offering registered under the Securities Act of 1933. At June 30, 2025, the aggregate value of these securities was $162,123,747, representing 6.2% of net assets. |
| <sup>b</sup>Security purchased on a when-issued basis. |
| <sup>c</sup>Variable rate security. The rate shown represents the yield at period end. |
| <sup>d</sup>The rate shown is the annualized seven-day effective yield at period end. |
| <sup>e</sup>See Note 3 regarding investments in affiliated management investment companies. |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

At June 30, 2025, the Fund had the following futures contracts outstanding.

#### Futures Contracts

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Type** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Notional<br> Amount\*** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value/Unrealized<br> Appreciation<br> (Depreciation)** |
| **Interest rate contracts** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury 10 Yr. Note | &nbsp;&nbsp;Long | &nbsp;&nbsp;130 | &nbsp;&nbsp;$14576250 | &nbsp;&nbsp;9/19/25 | &nbsp;&nbsp;$156222 |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury 2 Yr. Note | &nbsp;&nbsp;Long | &nbsp;&nbsp;461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95898805 | &nbsp;&nbsp;9/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 363172 |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury 5 Yr. Note | &nbsp;&nbsp;Long | &nbsp;&nbsp;285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31065000 | &nbsp;&nbsp;9/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 284638 |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Bond Long | &nbsp;&nbsp;Long | &nbsp;&nbsp; 24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2771250 | &nbsp;&nbsp;9/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 87182 |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Bond Ultra | &nbsp;&nbsp;Long | &nbsp;&nbsp; 57 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6790125 | &nbsp;&nbsp;9/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 256411 |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Ultra 10 Yr. Note | &nbsp;&nbsp;Long | &nbsp;&nbsp;294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33594094 | &nbsp;&nbsp;9/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 464426 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Futures Contracts |  |  |  |  | &nbsp;&nbsp;$1612051 |

---

\*As of period end.

#### Abbreviations

---

| | |
|:---|:---|
| **Selected Portfolio** |  |
| **FRN** | Floating Rate Note |
| **REIT** | Real Estate Investment Trust |
| **SOFR** | Secured Overnight Financing Rate |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Franklin U.S. Core Dividend Tilt Index ETF** | &nbsp;&nbsp;**Industry** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
|  | **Common Stocks 99.8%** |  |  |  |
|  | **Brazil 0.3%** |  |  |  |
| <sup>a</sup> | MercadoLibre, Inc. | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp; 62 | &nbsp;&nbsp;$162045 |
|  | **Ireland 0.2%** |  |  |  |
|  | TE Connectivity PLC | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp; 806 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 135948 |
|  | **Netherlands 0.3%** |  |  |  |
|  | NXP Semiconductors NV | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 170423 |
|  | **Russia 0.0%** |  |  |  |
| <sup>a,b</sup> | Tatneft PJSC | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;15990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | **United States 99.0%** |  |  |  |
|  | 3M Co. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75207 |
|  | Abbott Laboratories | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;2236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;304118 |
|  | AbbVie, Inc. | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;2886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;535699 |
|  | Accenture PLC, Class A | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;287532 |
| <sup>a</sup> | Adobe, Inc. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110648 |
| <sup>a</sup> | Advanced Micro Devices, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;1170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166023 |
|  | Air Products & Chemicals, Inc. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161338 |
|  | Alexandria Real Estate Equities, Inc. | &nbsp;&nbsp;Health Care REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37768 |
|  | Alliant Energy Corp. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55028 |
|  | Allstate Corp. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52341 |
|  | Alphabet, Inc., Class A | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;6110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1076765 |
|  | Alphabet, Inc., Class C | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;5356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;950101 |
|  | Altria Group, Inc. | &nbsp;&nbsp;Tobacco | &nbsp;&nbsp;&nbsp;&nbsp;6162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;361278 |
| <sup>a</sup> | Amazon.com, Inc. | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;10244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2247431 |
|  | Amcor PLC | &nbsp;&nbsp;Containers & Packaging | &nbsp;&nbsp;&nbsp;&nbsp;8008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73594 |
|  | American Electric Power Co., Inc. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;1638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169959 |
|  | American Tower Corp. | &nbsp;&nbsp;Specialized REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132170 |
|  | Amgen, Inc. | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;1222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341195 |
|  | Amphenol Corp., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;1638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161753 |
|  | Analog Devices, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;1196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284672 |
|  | Annaly Capital Management, Inc. | &nbsp;&nbsp;Mortgage Real Estate Investment Trusts (REITs) | &nbsp;&nbsp;&nbsp;&nbsp;2158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40614 |
|  | Apollo Global Management, Inc. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136479 |
|  | Apple, Inc. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;17342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3558058 |
|  | Applied Materials, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;1066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195153 |
| <sup>a</sup> | AppLovin Corp., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118327 |
|  | Archer-Daniels-Midland Co. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;1612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85081 |
|  | ARES Management Corp., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121586 |
| <sup>a</sup> | Arista Networks, Inc. | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp;&nbsp;&nbsp;1118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114383 |
|  | AT&T, Inc. | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;13260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;383744 |
| <sup>a</sup> | Atlassian Corp., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47523 |
| <sup>a</sup> | Autodesk, Inc. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32195 |
|  | Automatic Data Processing, Inc. | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88202 |
|  | AvalonBay Communities, Inc. | &nbsp;&nbsp;Residential REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100529 |
| <sup>a</sup> | Axon Enterprise, Inc. | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115912 |
|  | Baker Hughes Co. | &nbsp;&nbsp;Energy Equipment & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19937 |
|  | Bank of America Corp. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;9048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;428151 |
|  | Bank of New York Mellon Corp. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;2392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;217935 |
|  | Baxter International, Inc. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9447 |
|  | Becton Dickinson & Co. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4479 |
|  | Bentley Systems, Inc., Class B | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26661 |
| <sup>a</sup> | Berkshire Hathaway, Inc., Class B | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;1170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;568351 |
|  | Best Buy Co., Inc. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41889 |
|  | Blackrock, Inc. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;463769 |
|  | Blackstone, Inc. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;2574 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385019 |
| <sup>a</sup> | Block, Inc. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21194 |
|  | Booking Holdings, Inc. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52103 |
|  | Bristol-Myers Squibb Co. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;7098 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;328566 |
|  | Broadcom, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;5642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1555217 |
|  | Brown-Forman Corp., Class A | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Brown-Forman Corp., Class B | &nbsp;&nbsp;Beverages | &nbsp;&nbsp; 1274 | &nbsp;&nbsp; 34283 |
| <sup>a</sup> | Cadence Design Systems, Inc. | &nbsp;&nbsp;Software | &nbsp;&nbsp; 234 | &nbsp;&nbsp; 72107 |
|  | Camden Property Trust | &nbsp;&nbsp;Residential REITs | &nbsp;&nbsp; 390 | &nbsp;&nbsp; 43949 |
|  | Campbell's Co. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp; 728 | &nbsp;&nbsp; 22313 |
|  | Capital One Financial Corp. | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp; 234 | &nbsp;&nbsp; 49786 |
|  | Carlyle Group, Inc. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp; 754 | &nbsp;&nbsp; 38756 |
|  | Carrier Global Corp. | &nbsp;&nbsp;Building Products | &nbsp;&nbsp; 1040 | &nbsp;&nbsp; 76118 |
| <sup>a</sup> | Carvana Co. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp; 234 | &nbsp;&nbsp; 78849 |
|  | CDW Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp; 182 | &nbsp;&nbsp; 32503 |
|  | Charles Schwab Corp. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;1534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139962 |
|  | Chevron Corp. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;4004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;573333 |
|  | Cincinnati Financial Corp. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81310 |
|  | Cintas Corp. | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11589 |
|  | Cisco Systems, Inc. | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp;&nbsp;&nbsp;7774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;539360 |
|  | Citigroup, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;4602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;391722 |
|  | Citizens Financial Group, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;1508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67483 |
|  | Clorox Co. | &nbsp;&nbsp;Household Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53071 |
| <sup>a</sup> | Cloudflare, Inc., Class A | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96740 |
|  | CME Group, Inc. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;1378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;379804 |
|  | Coca-Cola Co. | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;5434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;384456 |
| <sup>a</sup> | Coinbase Global, Inc., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100240 |
|  | Comcast Corp., Class A | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;6318 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225489 |
|  | Conagra Brands, Inc. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;1716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35127 |
|  | ConocoPhillips | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;1326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118995 |
|  | Constellation Brands, Inc., Class A | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8459 |
|  | Constellation Energy Corp. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58742 |
|  | Corebridge Financial, Inc. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30459 |
|  | Corning, Inc. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;2600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136734 |
|  | Costco Wholesale Corp. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;463292 |
|  | Coterra Energy, Inc., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;2522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64008 |
| <sup>a</sup> | Crowdstrike Holdings, Inc., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198631 |
|  | Crown Castle, Inc. | &nbsp;&nbsp;Specialized REITs | &nbsp;&nbsp;&nbsp;&nbsp;1482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152246 |
|  | Cummins, Inc. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153270 |
|  | CVS Health Corp. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;3640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251087 |
|  | Darden Restaurants, Inc. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90676 |
| <sup>a</sup> | Datadog, Inc., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48896 |
|  | Dell Technologies, Inc., Class C | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54189 |
|  | Devon Energy Corp. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;2002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63684 |
|  | Diamondback Energy, Inc. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85738 |
|  | Digital Realty Trust, Inc. | &nbsp;&nbsp;Specialized REITs | &nbsp;&nbsp;&nbsp;&nbsp;1092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190368 |
|  | Dominion Energy, Inc. | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp;&nbsp;&nbsp;3068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173403 |
| <sup>a</sup> | DoorDash, Inc., Class A | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115367 |
|  | Dow, Inc. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;2340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61963 |
|  | Duke Energy Corp. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88972 |
|  | DuPont de Nemours, Inc. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;1326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90950 |
|  | East West Bancorp, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47259 |
|  | Eaton Corp. PLC | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176353 |
|  | eBay, Inc. | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38719 |
|  | Edison International | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;1534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79154 |
|  | Eli Lilly & Co. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;676632 |
|  | Emerson Electric Co. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;1352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180262 |
|  | Entegris, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29357 |
|  | Entergy Corp. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49706 |
|  | EOG Resources, Inc. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108845 |
|  | Equinix, Inc. | &nbsp;&nbsp;Specialized REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210004 |
|  | Equity LifeStyle Properties, Inc. | &nbsp;&nbsp;Residential REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43292 |
|  | Equity Residential | &nbsp;&nbsp;Residential REITs | &nbsp;&nbsp;&nbsp;&nbsp;1222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82473 |
|  | Essex Property Trust, Inc. | &nbsp;&nbsp;Residential REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58947 |
|  | Estee Lauder Cos., Inc., Class A | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42016 |
|  | Evergy, Inc. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;806 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55558 |
|  | Eversource Energy | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;1222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77744 |
|  | Exelon Corp. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;3718 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161436 |
|  | Extra Space Storage, Inc. | &nbsp;&nbsp;Specialized REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107336 |
|  | Exxon Mobil Corp. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;5720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;616616 |
|  | Fastenal Co. | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;3952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165984 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | FedEx Corp. | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp; 416 | &nbsp;&nbsp; 94561 |
|  | Ferguson Enterprises, Inc. | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp; 52 | &nbsp;&nbsp; 11323 |
|  | Fidelity National Financial, Inc. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp; 910 | &nbsp;&nbsp; 51015 |
|  | Fifth Third Bancorp | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 2262 | &nbsp;&nbsp; 93036 |
|  | FirstEnergy Corp. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp; 1924 | &nbsp;&nbsp; 77460 |
|  | Ford Motor Co. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;13962 | &nbsp;&nbsp; 151488 |
| <sup>a</sup> | Fortinet, Inc. | &nbsp;&nbsp;Software | &nbsp;&nbsp; 624 | &nbsp;&nbsp; 65969 |
|  | Freeport-McMoRan, Inc. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 338 | &nbsp;&nbsp; 14652 |
|  | Garmin Ltd. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp; 520 | &nbsp;&nbsp; 108534 |
|  | GE Vernova, Inc. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165095 |
|  | Gen Digital, Inc. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;1274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37456 |
|  | General Electric Co. | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60229 |
|  | General Mills, Inc. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;1924 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99682 |
|  | Genuine Parts Co. | &nbsp;&nbsp;Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59927 |
|  | Gilead Sciences, Inc. | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;2158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239257 |
|  | Goldman Sachs Group, Inc. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;331227 |
|  | Healthpeak Properties, Inc. | &nbsp;&nbsp;Health Care REITs | &nbsp;&nbsp;&nbsp;&nbsp;2496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43705 |
|  | Hershey Co. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81979 |
|  | Hewlett Packard Enterprise Co. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;4394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89857 |
|  | Home Depot, Inc. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;1664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610089 |
|  | Honeywell International, Inc. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127152 |
|  | Hormel Foods Corp. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;1014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30674 |
|  | HP, Inc. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;3302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80767 |
|  | Hubbell, Inc., Class B | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74331 |
| <sup>a</sup> | HubSpot, Inc. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57890 |
|  | Huntington Bancshares, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;4914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82359 |
|  | Illinois Tool Works, Inc. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;1040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257140 |
| <sup>a</sup> | Insulet Corp. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8169 |
|  | Intel Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;5434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121722 |
|  | Intercontinental Exchange, Inc. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66783 |
|  | International Business Machines Corp. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;1326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390878 |
|  | International Paper Co. | &nbsp;&nbsp;Containers & Packaging | &nbsp;&nbsp;&nbsp;&nbsp;1846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86448 |
|  | Intuit, Inc. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286697 |
| <sup>a</sup> | Intuitive Surgical, Inc. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211930 |
|  | Invitation Homes, Inc. | &nbsp;&nbsp;Residential REITs | &nbsp;&nbsp;&nbsp;&nbsp;2002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65666 |
|  | Iron Mountain, Inc. | &nbsp;&nbsp;Specialized REITs | &nbsp;&nbsp;&nbsp;&nbsp;1014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104006 |
|  | J.M. Smucker Co. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35745 |
|  | Johnson & Johnson | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;3666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;559982 |
|  | Johnson Controls International PLC | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101606 |
|  | JPMorgan Chase & Co. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;3406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;987433 |
|  | Juniper Networks, Inc. | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp;&nbsp;&nbsp;1222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48794 |
|  | Kellanova | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22746 |
|  | Kenvue, Inc. | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;6682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139854 |
|  | Keurig Dr. Pepper, Inc. | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;2860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94552 |
|  | KeyCorp | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;3250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56615 |
|  | Kimberly-Clark Corp. | &nbsp;&nbsp;Household Products | &nbsp;&nbsp;&nbsp;&nbsp;1274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164244 |
|  | Kimco Realty Corp. | &nbsp;&nbsp;Retail REITs | &nbsp;&nbsp;&nbsp;&nbsp;2418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50826 |
|  | Kinder Morgan, Inc. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;7072 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207917 |
|  | KKR & Co., Inc. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127975 |
|  | KLA Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209603 |
|  | Kraft Heinz Co. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;3094 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79887 |
|  | Lam Research Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;2158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210060 |
|  | Lennox International, Inc. | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29808 |
|  | Lowe's Cos., Inc. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167290 |
|  | LyondellBasell Industries NV, Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51148 |
|  | M&T Bank Corp. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110962 |
|  | Marvell Technology, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;1222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94583 |
|  | Mastercard, Inc., Class A | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87663 |
|  | McDonald's Corp. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159525 |
|  | Medtronic PLC | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;3484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303700 |
|  | Merck & Co., Inc. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;4264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337538 |
|  | Meta Platforms, Inc., Class A | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;2246 | &nbsp;&nbsp;&nbsp;&nbsp;1657750 |
|  | MetLife, Inc. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;1508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121273 |
|  | Microchip Technology, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;1638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115266 |
|  | Micron Technology, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83317 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Microsoft Corp. | &nbsp;&nbsp;Software | &nbsp;&nbsp; 8528 | &nbsp;&nbsp; 4241912 |
| <sup>a</sup> | MicroStrategy, Inc., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp; 260 | &nbsp;&nbsp; 105100 |
|  | Mid-America Apartment Communities, Inc. | &nbsp;&nbsp;Residential REITs | &nbsp;&nbsp; 416 | &nbsp;&nbsp; 61572 |
|  | Molson Coors Beverage Co., Class B | &nbsp;&nbsp;Beverages | &nbsp;&nbsp; 494 | &nbsp;&nbsp; 23756 |
| <sup>a</sup> | MongoDB, Inc. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp; 52 | &nbsp;&nbsp; 10919 |
|  | Monolithic Power Systems, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 156 | &nbsp;&nbsp; 114095 |
|  | Morgan Stanley | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp; 3640 | &nbsp;&nbsp; 512730 |
|  | Motorola Solutions, Inc. | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp; 104 | &nbsp;&nbsp; 43728 |
|  | MSCI, Inc. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp; 260 | &nbsp;&nbsp; 149952 |
|  | Nasdaq, Inc. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;1326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118571 |
|  | NetApp, Inc. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74798 |
| <sup>a</sup> | Netflix, Inc. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;633409 |
|  | NextEra Energy, Inc. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;1274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88441 |
|  | NIKE, Inc., Class B | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;1040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73882 |
|  | NiSource, Inc. | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5244 |
|  | Norfolk Southern Corp. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;199657 |
|  | Northern Trust Corp. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85710 |
|  | NVIDIA Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;26650 | &nbsp;&nbsp;&nbsp;&nbsp;4210434 |
| <sup>a</sup> | Okta, Inc. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18195 |
|  | Omnicom Group, Inc. | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50502 |
|  | ONEOK, Inc. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;2184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178280 |
|  | Oracle Corp. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;2054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;449066 |
|  | Owens Corning | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28604 |
|  | Packaging Corp. of America | &nbsp;&nbsp;Containers & Packaging | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58796 |
| <sup>a</sup> | Palantir Technologies, Inc., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;2782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;379242 |
| <sup>a</sup> | Palo Alto Networks, Inc. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159619 |
|  | Paychex, Inc. | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;1144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166406 |
|  | Paycom Software, Inc. | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30082 |
|  | PepsiCo, Inc. | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;3458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456594 |
|  | Pfizer, Inc. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;19162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;464487 |
|  | Philip Morris International, Inc. | &nbsp;&nbsp;Tobacco | &nbsp;&nbsp;&nbsp;&nbsp;2392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435655 |
|  | Phillips 66 | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108563 |
|  | PNC Financial Services Group, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;1378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256887 |
|  | Pool Corp. | &nbsp;&nbsp;Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37892 |
|  | Principal Financial Group, Inc. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;806 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64021 |
|  | Procter & Gamble Co. | &nbsp;&nbsp;Household Products | &nbsp;&nbsp;&nbsp;&nbsp;2626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418374 |
|  | Progressive Corp. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159582 |
|  | Prologis, Inc. | &nbsp;&nbsp;Industrial REITs | &nbsp;&nbsp;&nbsp;&nbsp;3094 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325241 |
|  | Prudential Financial, Inc. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;1222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131292 |
|  | Public Service Enterprise Group, Inc. | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83170 |
|  | Public Storage | &nbsp;&nbsp;Specialized REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167836 |
|  | QUALCOMM, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;2704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430639 |
|  | Realty Income Corp. | &nbsp;&nbsp;Retail REITs | &nbsp;&nbsp;&nbsp;&nbsp;3146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181241 |
|  | Regency Centers Corp. | &nbsp;&nbsp;Retail REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40744 |
|  | Regions Financial Corp. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;2938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69102 |
|  | ResMed, Inc. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20124 |
| <sup>a</sup> | Robinhood Markets, Inc., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;1014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94941 |
| <sup>a</sup> | ROBLOX Corp., Class A | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73850 |
|  | Rockwell Automation, Inc. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129546 |
|  | Ross Stores, Inc. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26537 |
|  | Royal Caribbean Cruises Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32567 |
|  | RTX Corp. | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;1118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163250 |
|  | Salesforce, Inc. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;1014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276508 |
|  | Schlumberger NV | &nbsp;&nbsp;Energy Equipment & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28122 |
|  | Seagate Technology Holdings PLC | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93815 |
|  | Sempra | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp;&nbsp;&nbsp;1326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100471 |
| <sup>a</sup> | ServiceNow, Inc. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;267301 |
|  | Simon Property Group, Inc. | &nbsp;&nbsp;Retail REITs | &nbsp;&nbsp;&nbsp;&nbsp;1170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188089 |
|  | Smurfit WestRock PLC | &nbsp;&nbsp;Containers & Packaging | &nbsp;&nbsp;&nbsp;&nbsp;1794 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77411 |
|  | Snap-on, Inc. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56635 |
| <sup>a</sup> | Snowflake, Inc., Class A | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75634 |
|  | Southern Co. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21488 |
|  | Southern Copper Corp. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23977 |
|  | Southwest Airlines Co. | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp;&nbsp;&nbsp;1794 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58197 |
|  | Starbucks Corp. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;3016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276356 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | State Street Corp. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp; 1014 | &nbsp;&nbsp; 107829 |
|  | Stryker Corp. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp; 26 | &nbsp;&nbsp; 10286 |
|  | Sun Communities, Inc. | &nbsp;&nbsp;Residential REITs | &nbsp;&nbsp; 286 | &nbsp;&nbsp; 36176 |
| <sup>a</sup> | Super Micro Computer, Inc. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp; 598 | &nbsp;&nbsp; 29308 |
|  | Synchrony Financial | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp; 312 | &nbsp;&nbsp; 20823 |
| <sup>a</sup> | Synopsys, Inc. | &nbsp;&nbsp;Software | &nbsp;&nbsp; 26 | &nbsp;&nbsp; 13330 |
|  | Sysco Corp. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp; 1430 | &nbsp;&nbsp; 108308 |
|  | T. Rowe Price Group, Inc. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp; 780 | &nbsp;&nbsp; 75270 |
|  | Targa Resources Corp. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 390 | &nbsp;&nbsp; 67891 |
|  | Target Corp. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;1560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153894 |
|  | Teradyne, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14028 |
| <sup>a</sup> | Tesla, Inc. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;3640 | &nbsp;&nbsp;&nbsp;&nbsp;1156282 |
|  | Texas Instruments, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;2496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;518220 |
|  | TJX Cos., Inc. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57793 |
|  | Tractor Supply Co. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;1716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90553 |
| <sup>a</sup> | Trade Desk, Inc., Class A | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31820 |
|  | Trane Technologies PLC | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75672 |
|  | Truist Financial Corp. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;4498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193369 |
|  | Tyson Foods, Inc., Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55269 |
|  | U.S. Bancorp | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;5330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241183 |
| <sup>a</sup> | Uber Technologies, Inc. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;2340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218322 |
|  | UDR, Inc. | &nbsp;&nbsp;Residential REITs | &nbsp;&nbsp;&nbsp;&nbsp;1066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43525 |
|  | Union Pacific Corp. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;806 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185444 |
|  | United Parcel Service, Inc., Class B | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;2522 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254571 |
|  | UnitedHealth Group, Inc. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;1144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;356894 |
|  | Valero Energy Corp. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118827 |
|  | Ventas, Inc. | &nbsp;&nbsp;Health Care REITs | &nbsp;&nbsp;&nbsp;&nbsp;1066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67318 |
|  | Verizon Communications, Inc. | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;11908 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;515259 |
|  | Vertiv Holdings Co., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86805 |
|  | VICI Properties, Inc. | &nbsp;&nbsp;Specialized REITs | &nbsp;&nbsp;&nbsp;&nbsp;3692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120359 |
|  | Visa, Inc., Class A | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;1352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480028 |
|  | Vistra Corp. | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40312 |
|  | Walmart, Inc. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;3380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330496 |
|  | Walt Disney Co. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;572 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70934 |
|  | Watsco, Inc. | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57411 |
|  | WEC Energy Group, Inc. | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51475 |
|  | Wells Fargo & Co. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;2938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235393 |
|  | Westlake Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7897 |
|  | Weyerhaeuser Co. | &nbsp;&nbsp;Specialized REITs | &nbsp;&nbsp;&nbsp;&nbsp;2340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60115 |
|  | Williams Cos., Inc. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;4290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269455 |
| <sup>a</sup> | Workday, Inc., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24960 |
|  | WP Carey, Inc. | &nbsp;&nbsp;Diversified REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47035 |
|  | Xcel Energy, Inc. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35412 |
| <sup>a</sup> | Zscaler, Inc. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57137 |
|  |  |  |  | &nbsp;&nbsp;62024640 |
|  | **Total Common Stocks (Cost $53,699,131)** |  |  | &nbsp;&nbsp;62493056 |
|  | **Total Investments before Short-Term Investments (Cost $53,699,131)** |  |  | &nbsp;&nbsp;62493056 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Short-Term Investments 0.1%** |  |  |  |
|  | **Money Market Funds 0.1%** |  |  |  |
|  | **United States 0.1%** |  |  |  |
| <sup>c,d</sup> | Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;69963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 69963 |
|  | **Total Short-Term Investments (Cost $69,963)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69963 |
|  | **Total Investments (Cost $53,769,094) 99.9%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62563019 |
|  | **Other Assets, less Liabilities 0.1%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77976 |
|  | **Net Assets 100.0%** |  |  | &nbsp;&nbsp;$62640995 |

---

---

| |
|:---|
| <sup>a</sup>Non-income producing. |
| <sup>b</sup>Fair valued using significant unobservable inputs. See Note 5 regarding fair value measurements. |
| <sup>c</sup>The rate shown is the annualized seven-day effective yield at period end. |
| <sup>d</sup>See Note 3 regarding investments in affiliated management investment companies. |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

At June 30, 2025, the Fund had the following futures contracts outstanding.

#### Futures Contracts

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Type** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Notional<br> Amount\*** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value/Unrealized<br> Appreciation<br> (Depreciation)** |
| **Equity Contracts** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;S&P 500 E-Mini | &nbsp;&nbsp;Long | &nbsp;&nbsp;3 | &nbsp;&nbsp;$93806 | &nbsp;&nbsp;9/19/25 | &nbsp;&nbsp;$3313 |

---

\*As of period end.

#### Abbreviations

---

| | |
|:---|:---|
| **Selected Portfolio** |  |
| **REIT** | Real Estate Investment Trust |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Franklin U.S. Equity Index ETF** | &nbsp;&nbsp;**Industry** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
|  | **Common Stocks 99.9%** |  |  |  |
|  | **Brazil 0.2%** |  |  |  |
| <sup>a</sup> | MercadoLibre, Inc. | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp; 1104 | &nbsp;&nbsp;$2885448 |
|  | **Ireland 0.1%** |  |  |  |
|  | TE Connectivity PLC | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp; 6975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1176473 |
|  | **Jersey 0.0%<sup>†</sup>** |  |  |  |
| <sup>a</sup> | Aptiv PLC | &nbsp;&nbsp;Automobile Components | &nbsp;&nbsp; 5115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 348945 |
|  | **Netherlands 0.1%** |  |  |  |
|  | NXP Semiconductors NV | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1219174 |
| <sup>a,b</sup> | **Russia 0.0%** |  |  |  |
|  | Alrosa PJSC | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Gazprom PJSC | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;15428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | GMK Norilskiy Nickel PAO | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Inter RAO UES PJSC | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;53546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | LUKOIL PJSC | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Novolipetsk Steel PJSC | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | PhosAgro PJSC | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | PhosAgro PJSC | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Polyus PJSC | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Rosneft Oil Co. PJSC | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Severstal PAO | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Surgutneftegas PAO | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | Tatneft PJSC | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | United Co. RUSAL International PJSC | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | **United Kingdom 0.1%** |  |  |  |
|  | CNH Industrial NV | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;20925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271188 |
| <sup>a</sup> | Flutter Entertainment PLC | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1063027 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1334215 |
|  | **United States 99.4%** |  |  |  |
|  | 3M Co. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;12555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1911373 |
|  | Abbott Laboratories | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;40920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5565529 |
|  | AbbVie, Inc. | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;41385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7681884 |
|  | Accenture PLC, Class A | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;14415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4308499 |
| <sup>a</sup> | Adobe, Inc. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3777883 |
| <sup>a</sup> | Advanced Micro Devices, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;38130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5410647 |
|  | Aflac, Inc. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;11625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1225972 |
|  | Agilent Technologies, Inc. | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;768245 |
|  | Air Products & Chemicals, Inc. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1442737 |
| <sup>a</sup> | Airbnb, Inc., Class A | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1292300 |
| <sup>a</sup> | Akamai Technologies, Inc. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;296707 |
|  | Alexandria Real Estate Equities, Inc. | &nbsp;&nbsp;Health Care REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270184 |
| <sup>a</sup> | Align Technology, Inc. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;352154 |
|  | Allegion PLC | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268063 |
|  | Alliant Energy Corp. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365541 |
|  | Allstate Corp. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1216919 |
| <sup>a</sup> | Alnylam Pharmaceuticals, Inc. | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;909791 |
|  | Alphabet, Inc., Class A | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;136710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24092403 |
|  | Alphabet, Inc., Class C | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;119970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21281478 |
|  | Altria Group, Inc. | &nbsp;&nbsp;Tobacco | &nbsp;&nbsp;&nbsp;&nbsp;39990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2344614 |
| <sup>a</sup> | Amazon.com, Inc. | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;226920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49783979 |
|  | Amcor PLC | &nbsp;&nbsp;Containers & Packaging | &nbsp;&nbsp;&nbsp;&nbsp;53475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;491435 |
|  | Ameren Corp. | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625220 |
|  | American Electric Power Co., Inc. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;12090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1254458 |
|  | American Express Co. | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp;&nbsp;&nbsp;13020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4153120 |
|  | American International Group, Inc. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;13485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1154181 |
|  | American Tower Corp. | &nbsp;&nbsp;Specialized REITs | &nbsp;&nbsp;&nbsp;&nbsp;10695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2363809 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | American Water Works Co., Inc. | &nbsp;&nbsp;Water Utilities | &nbsp;&nbsp; 4650 | &nbsp;&nbsp; 646862 |
|  | Ameriprise Financial, Inc. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp; 2325 | &nbsp;&nbsp; 1240922 |
|  | AMETEK, Inc. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp; 5580 | &nbsp;&nbsp; 1009757 |
|  | Amgen, Inc. | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp; 12555 | &nbsp;&nbsp; 3505482 |
|  | Amphenol Corp., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp; 28365 | &nbsp;&nbsp; 2801044 |
|  | Analog Devices, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 11625 | &nbsp;&nbsp; 2766982 |
|  | Annaly Capital Management, Inc. | &nbsp;&nbsp;Mortgage Real Estate Investment Trusts (REITs) | &nbsp;&nbsp; 13950 | &nbsp;&nbsp; 262539 |
| <sup>a</sup> | ANSYS, Inc. | &nbsp;&nbsp;Software | &nbsp;&nbsp; 1860 | &nbsp;&nbsp; 653269 |
|  | Aon PLC, Class A | &nbsp;&nbsp;Insurance | &nbsp;&nbsp; 5115 | &nbsp;&nbsp; 1824827 |
|  | Apollo Global Management, Inc. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;10230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1451330 |
|  | Apple, Inc. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;351540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72125462 |
|  | Applied Materials, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;19065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3490230 |
| <sup>a</sup> | AppLovin Corp., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1953446 |
|  | Arch Capital Group Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;804427 |
|  | Archer-Daniels-Midland Co. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;10695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;564482 |
|  | ARES Management Corp., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;805380 |
| <sup>a</sup> | Arista Networks, Inc. | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp;&nbsp;&nbsp;24180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2473856 |
|  | Arthur J Gallagher & Co. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1935125 |
|  | AT&T, Inc. | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;168330 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4871470 |
| <sup>a</sup> | Atlassian Corp., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;755495 |
|  | Atmos Energy Corp. | &nbsp;&nbsp;Gas Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;573289 |
| <sup>a</sup> | Autodesk, Inc. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1583451 |
|  | Automatic Data Processing, Inc. | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3011526 |
| <sup>a</sup> | AutoZone, Inc. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1484892 |
|  | AvalonBay Communities, Inc. | &nbsp;&nbsp;Residential REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;662393 |
|  | Avery Dennison Corp. | &nbsp;&nbsp;Containers & Packaging | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326374 |
| <sup>a</sup> | Axon Enterprise, Inc. | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1539968 |
|  | Baker Hughes Co. | &nbsp;&nbsp;Energy Equipment & Services | &nbsp;&nbsp;&nbsp;&nbsp;23250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;891405 |
|  | Ball Corp. | &nbsp;&nbsp;Containers & Packaging | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;339064 |
|  | Bank of America Corp. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;159495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7547303 |
|  | Bank of New York Mellon Corp. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;16275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1482815 |
|  | Baxter International, Inc. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;12090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366085 |
|  | Becton Dickinson & Co. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1201444 |
|  | Bentley Systems, Inc., Class B | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175672 |
| <sup>a</sup> | Berkshire Hathaway, Inc., Class B | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;43245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21007124 |
|  | Best Buy Co., Inc. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;312155 |
| <sup>a</sup> | Biogen, Inc. | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;408795 |
| <sup>a</sup> | BioMarin Pharmaceutical, Inc. | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255611 |
|  | Blackrock, Inc. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3415309 |
|  | Blackstone, Inc. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;17205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2573524 |
| <sup>a</sup> | Block, Inc. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;13020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;884449 |
| <sup>a</sup> | Boeing Co. | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;17670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3702395 |
|  | Booking Holdings, Inc. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4457715 |
|  | Booz Allen Hamilton Holding Corp. | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290523 |
| <sup>a</sup> | Boston Scientific Corp. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;34410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3695978 |
|  | Bristol-Myers Squibb Co. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;47430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2195535 |
|  | Broadcom, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;107880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29737122 |
|  | Broadridge Financial Solutions, Inc. | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;678054 |
|  | Brown & Brown, Inc. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;618655 |
|  | Brown-Forman Corp., Class A | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25547 |
|  | Brown-Forman Corp., Class B | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187697 |
| <sup>a</sup> | Builders FirstSource, Inc. | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325565 |
| <sup>a</sup> | Burlington Stores, Inc. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;324533 |
| <sup>a</sup> | Cadence Design Systems, Inc. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2006056 |
|  | Camden Property Trust | &nbsp;&nbsp;Residential REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262004 |
|  | Campbell's Co. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142523 |
|  | Capital One Financial Corp. | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp;&nbsp;&nbsp;15001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3191613 |
|  | Cardinal Health, Inc. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;937440 |
|  | Carlyle Group, Inc. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262911 |
| <sup>a</sup> | Carnival Corp. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;24180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;679942 |
|  | Carrier Global Corp. | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;19065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1395367 |
| <sup>a</sup> | Carvana Co. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1096805 |
|  | Caterpillar, Inc. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;11160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4332424 |
| <sup>a</sup> | CBRE Group, Inc., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;977337 |
|  | CDW Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;581310 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Cencora, Inc. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp; 4185 | &nbsp;&nbsp; 1254872 |
| <sup>a</sup> | Centene Corp. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp; 11160 | &nbsp;&nbsp; 605765 |
|  | CenterPoint Energy, Inc. | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp; 14880 | &nbsp;&nbsp; 546691 |
|  | CF Industries Holdings, Inc. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 3720 | &nbsp;&nbsp; 342240 |
|  | Charles Schwab Corp. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp; 39990 | &nbsp;&nbsp; 3648688 |
| <sup>a</sup> | Charter Communications, Inc., Class A | &nbsp;&nbsp;Media | &nbsp;&nbsp; 2325 | &nbsp;&nbsp; 950483 |
|  | Cheniere Energy, Inc. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 5115 | &nbsp;&nbsp; 1245605 |
|  | Chevron Corp. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 37665 | &nbsp;&nbsp; 5393251 |
| <sup>a</sup> | Chipotle Mexican Grill, Inc. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp; 31620 | &nbsp;&nbsp; 1775463 |
|  | Chubb Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2559676 |
|  | Church & Dwight Co., Inc. | &nbsp;&nbsp;Household Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;536294 |
|  | Cigna Group | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1998356 |
|  | Cincinnati Financial Corp. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;553982 |
|  | Cintas Corp. | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1761787 |
|  | Cisco Systems, Inc. | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp;&nbsp;&nbsp;93000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6452340 |
|  | Citigroup, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;44175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3760176 |
|  | Citizens Financial Group, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;10695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;478601 |
|  | Clorox Co. | &nbsp;&nbsp;Household Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334995 |
| <sup>a</sup> | Cloudflare, Inc., Class A | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1365914 |
|  | CME Group, Inc. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2306939 |
|  | CMS Energy Corp. | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483228 |
|  | Coca-Cola Co. | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;91605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6481054 |
|  | Cognizant Technology Solutions Corp., Class A | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;11625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;907099 |
| <sup>a</sup> | Coinbase Global, Inc., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1629778 |
|  | Colgate-Palmolive Co. | &nbsp;&nbsp;Household Products | &nbsp;&nbsp;&nbsp;&nbsp;19065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1733008 |
|  | Comcast Corp., Class A | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;86955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3103424 |
|  | Conagra Brands, Inc. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;11160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228445 |
|  | ConocoPhillips | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;29760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2670662 |
|  | Consolidated Edison, Inc. | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;839930 |
|  | Constellation Brands, Inc., Class A | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;605170 |
|  | Constellation Energy Corp. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2401334 |
| <sup>a</sup> | Cooper Cos., Inc. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330894 |
| <sup>a</sup> | Copart, Inc. | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;19530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;958337 |
|  | Corebridge Financial, Inc. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198090 |
|  | Corning, Inc. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;18135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;953720 |
| <sup>a</sup> | Corpay, Inc. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;462889 |
|  | Corteva, Inc. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;16275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1212976 |
| <sup>a</sup> | CoStar Group, Inc. | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;747720 |
|  | Costco Wholesale Corp. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;10230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10127086 |
|  | Coterra Energy, Inc., Class A | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;17670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;448465 |
| <sup>a</sup> | Coupang, Inc. | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;27900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;835884 |
|  | CRH PLC | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;15810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1451358 |
| <sup>a</sup> | Crowdstrike Holdings, Inc., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2841950 |
|  | Crown Castle, Inc. | &nbsp;&nbsp;Specialized REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1003158 |
|  | Crown Holdings, Inc. | &nbsp;&nbsp;Containers & Packaging | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;287314 |
|  | CSX Corp. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;43710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1426257 |
|  | Cummins, Inc. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1066013 |
|  | CVS Health Corp. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;29295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2020769 |
|  | Danaher Corp. | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp;14880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2939395 |
|  | Darden Restaurants, Inc. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;608136 |
| <sup>a</sup> | Datadog, Inc., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;936952 |
| <sup>a</sup> | Deckers Outdoor Corp. | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;383420 |
|  | Deere & Co. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3073822 |
|  | Dell Technologies, Inc., Class C | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;855135 |
|  | Delta Air Lines, Inc. | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp;&nbsp;&nbsp;14880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;731798 |
|  | Devon Energy Corp. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;14415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;458541 |
| <sup>a</sup> | Dexcom, Inc. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;811797 |
|  | Diamondback Energy, Inc. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;638910 |
|  | Digital Realty Trust, Inc. | &nbsp;&nbsp;Specialized REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1297015 |
| <sup>a</sup> | Docusign, Inc. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362189 |
|  | Dollar General Corp. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;585054 |
| <sup>a</sup> | Dollar Tree, Inc. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460536 |
|  | Dominion Energy, Inc. | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp;&nbsp;&nbsp;19995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1130117 |
|  | Domino's Pizza, Inc. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;419058 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| <sup>a</sup> | DoorDash, Inc., Class A | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp; 8370 | &nbsp;&nbsp; 2063289 |
|  | Dover Corp. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp; 3255 | &nbsp;&nbsp; 596414 |
|  | Dow, Inc. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 16275 | &nbsp;&nbsp; 430962 |
|  | DR Horton, Inc. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp; 6510 | &nbsp;&nbsp; 839269 |
|  | DTE Energy Co. | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp; 4650 | &nbsp;&nbsp; 615939 |
|  | Duke Energy Corp. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp; 18135 | &nbsp;&nbsp; 2139930 |
|  | DuPont de Nemours, Inc. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 9765 | &nbsp;&nbsp; 669781 |
| <sup>a</sup> | Dynatrace, Inc. | &nbsp;&nbsp;Software | &nbsp;&nbsp; 6975 | &nbsp;&nbsp; 385090 |
|  | East West Bancorp, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp; 3255 | &nbsp;&nbsp; 328690 |
|  | Eaton Corp. PLC | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3320007 |
|  | eBay, Inc. | &nbsp;&nbsp;Broadline Retail | &nbsp;&nbsp;&nbsp;&nbsp;10695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;796350 |
|  | Ecolab, Inc. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1628765 |
|  | Edison International | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455886 |
| <sup>a</sup> | Edwards Lifesciences Corp. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;13950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1091030 |
|  | Electronic Arts, Inc. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;891126 |
|  | Elevance Health, Inc. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1989530 |
|  | Eli Lilly & Co. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;18600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14499258 |
|  | Emerson Electric Co. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;13020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1735957 |
|  | Entegris, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300018 |
|  | Entergy Corp. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;10230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850318 |
|  | EOG Resources, Inc. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;13020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1557322 |
|  | EQT Corp. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;13485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;786445 |
|  | Equifax, Inc. | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;723642 |
|  | Equinix, Inc. | &nbsp;&nbsp;Specialized REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1849468 |
|  | Equitable Holdings, Inc. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;417384 |
|  | Equity LifeStyle Properties, Inc. | &nbsp;&nbsp;Residential REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258089 |
|  | Equity Residential | &nbsp;&nbsp;Residential REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;533508 |
|  | Essex Property Trust, Inc. | &nbsp;&nbsp;Residential REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;395343 |
|  | Estee Lauder Cos., Inc., Class A | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450864 |
|  | Everest Group Ltd. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316061 |
|  | Evergy, Inc. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;384629 |
|  | Eversource Energy | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;532499 |
|  | Exelon Corp. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;23250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1009515 |
|  | Expand Energy Corp. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;598148 |
|  | Expedia Group, Inc. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470617 |
|  | Expeditors International of Washington, Inc. | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371884 |
|  | Extra Space Storage, Inc. | &nbsp;&nbsp;Specialized REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;685596 |
|  | Exxon Mobil Corp. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;101370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10927686 |
| <sup>a</sup> | F5, Inc. | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410576 |
|  | FactSet Research Systems, Inc. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415970 |
| <sup>a</sup> | Fair Isaac Corp. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1027314 |
|  | Fastenal Co. | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;26970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1132740 |
|  | FedEx Corp. | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1162691 |
|  | Ferguson Enterprises, Inc. | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1012538 |
|  | Fidelity National Financial, Inc. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;338883 |
|  | Fidelity National Information Services, Inc. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;12090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;984247 |
|  | Fifth Third Bancorp | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;15810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650265 |
|  | First Citizens BancShares, Inc., Class A | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;473466 |
| <sup>a</sup> | First Solar, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;384881 |
|  | FirstEnergy Corp. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;11625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;468023 |
| <sup>a</sup> | Fiserv, Inc. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;13020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2244778 |
| <sup>a</sup> | Flex Ltd. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;441043 |
|  | Ford Motor Co. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;92070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;998960 |
| <sup>a</sup> | Fortinet, Inc. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;15345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1622273 |
|  | Fortive Corp. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;412088 |
|  | Fox Corp., Class A | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286645 |
|  | Fox Corp., Class B | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168056 |
|  | Freeport-McMoRan, Inc. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;32550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1411042 |
|  | Garmin Ltd. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;776438 |
| <sup>a</sup> | Gartner, Inc. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;751849 |
|  | GE HealthCare Technologies, Inc. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;10695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;792179 |
|  | GE Vernova, Inc. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3444766 |
|  | Gen Digital, Inc. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;13485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396459 |
|  | General Dynamics Corp. | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1627463 |
|  | General Electric Co. | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;25110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6463063 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | General Mills, Inc. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp; 13020 | &nbsp;&nbsp; 674566 |
|  | General Motors Co. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp; 23250 | &nbsp;&nbsp; 1144133 |
|  | Genuine Parts Co. | &nbsp;&nbsp;Distributors | &nbsp;&nbsp; 3255 | &nbsp;&nbsp; 394864 |
|  | Gilead Sciences, Inc. | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp; 29295 | &nbsp;&nbsp; 3247937 |
|  | Global Payments, Inc. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp; 5580 | &nbsp;&nbsp; 446623 |
| <sup>a</sup> | GoDaddy, Inc., Class A | &nbsp;&nbsp;IT Services | &nbsp;&nbsp; 3255 | &nbsp;&nbsp; 586095 |
|  | Goldman Sachs Group, Inc. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp; 7440 | &nbsp;&nbsp; 5265660 |
|  | Halliburton Co. | &nbsp;&nbsp;Energy Equipment & Services | &nbsp;&nbsp; 20460 | &nbsp;&nbsp; 416975 |
|  | Hartford Insurance Group, Inc. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp; 6510 | &nbsp;&nbsp; 825924 |
|  | HCA Healthcare, Inc. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1603273 |
|  | Healthpeak Properties, Inc. | &nbsp;&nbsp;Health Care REITs | &nbsp;&nbsp;&nbsp;&nbsp;16740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;293117 |
|  | HEICO Corp. | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305040 |
|  | HEICO Corp., Class A | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;481275 |
|  | Hershey Co. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540167 |
|  | Hess Corp. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;901895 |
|  | Hewlett Packard Enterprise Co. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;30225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;618101 |
|  | Hilton Worldwide Holdings, Inc. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1486177 |
| <sup>a</sup> | Hologic, Inc. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;333293 |
|  | Home Depot, Inc. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;23250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8524380 |
|  | Honeywell International, Inc. | &nbsp;&nbsp;Industrial Conglomerates | &nbsp;&nbsp;&nbsp;&nbsp;14880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3465254 |
|  | Hormel Foods Corp. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210994 |
|  | Howmet Aerospace, Inc. | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1731009 |
|  | HP, Inc. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;22320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545947 |
|  | Hubbell, Inc., Class B | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;569732 |
| <sup>a</sup> | HubSpot, Inc. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;776499 |
|  | Humana, Inc. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;682099 |
|  | Huntington Bancshares, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;33480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;561125 |
|  | IDEX Corp. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326560 |
| <sup>a</sup> | IDEXX Laboratories, Inc. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;997592 |
|  | Illinois Tool Works, Inc. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1724569 |
| <sup>a</sup> | Illumina, Inc. | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354925 |
| <sup>a</sup> | Incyte Corp. | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253332 |
|  | Ingersoll Rand, Inc. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;773574 |
| <sup>a</sup> | Insulet Corp. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;584375 |
|  | Intel Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;102300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2291520 |
|  | Intercontinental Exchange, Inc. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;13485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2474093 |
|  | International Business Machines Corp. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;21855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6442417 |
|  | International Flavors & Fragrances, Inc. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;444610 |
|  | International Paper Co. | &nbsp;&nbsp;Containers & Packaging | &nbsp;&nbsp;&nbsp;&nbsp;12090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;566175 |
|  | Intuit, Inc. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5127471 |
| <sup>a</sup> | Intuitive Surgical, Inc. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4548342 |
|  | Invitation Homes, Inc. | &nbsp;&nbsp;Residential REITs | &nbsp;&nbsp;&nbsp;&nbsp;13485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;442308 |
| <sup>a</sup> | IQVIA Holdings, Inc. | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;659514 |
|  | Iron Mountain, Inc. | &nbsp;&nbsp;Specialized REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;715426 |
|  | J.M. Smucker Co. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228315 |
|  | Jack Henry & Associates, Inc. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335116 |
|  | Jacobs Solutions, Inc. | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;366746 |
|  | JB Hunt Transport Services, Inc. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;267096 |
|  | Johnson & Johnson | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;56265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8594479 |
|  | Johnson Controls International PLC | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;15345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1620739 |
|  | JPMorgan Chase & Co. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;65565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19007949 |
|  | Juniper Networks, Inc. | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297079 |
|  | Kellanova | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;517740 |
|  | Kenvue, Inc. | &nbsp;&nbsp;Personal Care Products | &nbsp;&nbsp;&nbsp;&nbsp;40455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;846723 |
|  | Keurig Dr. Pepper, Inc. | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;28365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;937747 |
|  | KeyCorp | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;22785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396915 |
| <sup>a</sup> | Keysight Technologies, Inc. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;685754 |
|  | Kimberly-Clark Corp. | &nbsp;&nbsp;Household Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1019113 |
|  | Kimco Realty Corp. | &nbsp;&nbsp;Retail REITs | &nbsp;&nbsp;&nbsp;&nbsp;15810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;332326 |
|  | Kinder Morgan, Inc. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;46500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1367100 |
|  | KKR & Co., Inc. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;15345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2041345 |
|  | KLA Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2915634 |
|  | Kraft Heinz Co. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;20460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;528277 |
|  | Kroger Co. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;14415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1033988 |
|  | L3Harris Technologies, Inc. | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1049765 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Labcorp Holdings, Inc. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp; 1860 | &nbsp;&nbsp; 488269 |
|  | Lam Research Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 30058 | &nbsp;&nbsp; 2925846 |
|  | Las Vegas Sands Corp. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp; 8835 | &nbsp;&nbsp; 384411 |
|  | Leidos Holdings, Inc. | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp; 2790 | &nbsp;&nbsp; 440150 |
|  | Lennar Corp., Class A | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp; 5115 | &nbsp;&nbsp; 565770 |
|  | Lennox International, Inc. | &nbsp;&nbsp;Building Products | &nbsp;&nbsp; 930 | &nbsp;&nbsp; 533113 |
| <sup>a</sup> | Liberty Media Corp.-Liberty Formula One, Class A | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp; 465 | &nbsp;&nbsp; 44156 |
| <sup>a</sup> | Liberty Media Corp.-Liberty Formula One, Class C | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp; 5115 | &nbsp;&nbsp; 534518 |
|  | Linde PLC | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 11160 | &nbsp;&nbsp; 5236049 |
|  | Lineage, Inc. | &nbsp;&nbsp;Industrial REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80947 |
| <sup>a</sup> | Live Nation Entertainment, Inc. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;492416 |
|  | Lockheed Martin Corp. | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2153601 |
|  | Loews Corp. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;383597 |
|  | Lowe's Cos., Inc. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;13020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2888747 |
|  | LPL Financial Holdings, Inc. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;697444 |
| <sup>a</sup> | Lululemon Athletica, Inc. | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;552374 |
|  | LyondellBasell Industries NV, Class A | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;349764 |
|  | M&T Bank Corp. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;721643 |
|  | Marathon Petroleum Corp. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1235858 |
| <sup>a</sup> | Markel Group, Inc. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;565253 |
|  | Marriott International, Inc., Class A | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1397469 |
|  | Marsh & McLennan Cos., Inc. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;11625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2541690 |
|  | Martin Marietta Materials, Inc. | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;765799 |
|  | Marvell Technology, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;19995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1547613 |
|  | Masco Corp. | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;329201 |
|  | Mastercard, Inc., Class A | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;19065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10713386 |
|  | McCormick & Co., Inc. | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;458332 |
|  | McDonald's Corp. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;16740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4890926 |
|  | McKesson Corp. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2044456 |
|  | Medtronic PLC | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;30225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2634713 |
|  | Merck & Co., Inc. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;59520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4711603 |
|  | Meta Platforms, Inc., Class A | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;51150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37753303 |
|  | MetLife, Inc. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;13485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1084464 |
| <sup>a</sup> | Mettler-Toledo International, Inc. | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;546245 |
|  | Microchip Technology, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;12555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;883495 |
|  | Micron Technology, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;26040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3209430 |
|  | Microsoft Corp. | &nbsp;&nbsp;Software | &nbsp;&nbsp;173910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86504573 |
| <sup>a</sup> | MicroStrategy, Inc., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2443570 |
|  | Mid-America Apartment Communities, Inc. | &nbsp;&nbsp;Residential REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;412948 |
| <sup>a</sup> | Moderna, Inc. | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218099 |
| <sup>a</sup> | Molina Healthcare, Inc. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;415571 |
|  | Molson Coors Beverage Co., Class B | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201257 |
|  | Mondelez International, Inc., Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;30225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2038374 |
| <sup>a</sup> | MongoDB, Inc. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390581 |
|  | Monolithic Power Systems, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;680183 |
| <sup>a</sup> | Monster Beverage Corp. | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;16275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1019466 |
|  | Moody's Corp. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1865915 |
|  | Morgan Stanley | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;29295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4126494 |
|  | Motorola Solutions, Inc. | &nbsp;&nbsp;Communications Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1564111 |
|  | MSCI, Inc. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1072736 |
|  | Nasdaq, Inc. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;790026 |
|  | NetApp, Inc. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;495458 |
| <sup>a</sup> | Netflix, Inc. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;10047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13454239 |
|  | Newmont Corp. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;26040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1517090 |
|  | News Corp., Class A | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262576 |
|  | News Corp., Class B | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79771 |
|  | NextEra Energy, Inc. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;47895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3324871 |
|  | NIKE, Inc., Class B | &nbsp;&nbsp;Textiles, Apparel & Luxury Goods | &nbsp;&nbsp;&nbsp;&nbsp;27435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1948982 |
|  | NiSource, Inc. | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp;&nbsp;&nbsp;10695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;431436 |
|  | Norfolk Southern Corp. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1309287 |
|  | Northern Trust Corp. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;589574 |
|  | Northrop Grumman Corp. | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1627435 |
|  | NRG Energy, Inc. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;746697 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Nucor Corp. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp; 5580 | &nbsp;&nbsp; 722833 |
|  | NVIDIA Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;552420 | &nbsp;&nbsp; 87276836 |
| <sup>a</sup> | NVR, Inc. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp; 66 | &nbsp;&nbsp; 487454 |
|  | Occidental Petroleum Corp. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 14880 | &nbsp;&nbsp; 625109 |
| <sup>a</sup> | Okta, Inc. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp; 3720 | &nbsp;&nbsp; 371888 |
|  | Old Dominion Freight Line, Inc. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp; 4185 | &nbsp;&nbsp; 679226 |
|  | Omnicom Group, Inc. | &nbsp;&nbsp;Media | &nbsp;&nbsp; 4650 | &nbsp;&nbsp; 334521 |
| <sup>a</sup> | ON Semiconductor Corp. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp; 9765 | &nbsp;&nbsp; 511784 |
|  | ONEOK, Inc. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp; 14415 | &nbsp;&nbsp; 1176696 |
|  | Oracle Corp. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;38130 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8336362 |
| <sup>a</sup> | O'Reilly Automotive, Inc. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;19995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1802149 |
|  | Otis Worldwide Corp. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;920886 |
|  | Owens Corning | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255787 |
|  | PACCAR, Inc. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;12090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1149275 |
|  | Packaging Corp. of America | &nbsp;&nbsp;Containers & Packaging | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350517 |
| <sup>a</sup> | Palantir Technologies, Inc., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;49755 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6782602 |
| <sup>a</sup> | Palo Alto Networks, Inc. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;15345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3140201 |
|  | Parker-Hannifin Corp. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1948731 |
|  | Paychex, Inc. | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1082222 |
|  | Paycom Software, Inc. | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322803 |
| <sup>a</sup> | PayPal Holdings, Inc. | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp;&nbsp;&nbsp;22785 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1693381 |
|  | Pentair PLC | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;381895 |
|  | PepsiCo, Inc. | &nbsp;&nbsp;Beverages | &nbsp;&nbsp;&nbsp;&nbsp;32085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4236503 |
|  | Pfizer, Inc. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;132525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3212406 |
|  | PG&E Corp. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;50685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;706549 |
|  | Philip Morris International, Inc. | &nbsp;&nbsp;Tobacco | &nbsp;&nbsp;&nbsp;&nbsp;36270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6605855 |
|  | Phillips 66 | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1164965 |
| <sup>a</sup> | Pinterest, Inc., Class A | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp;&nbsp;&nbsp;13950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500247 |
|  | PNC Financial Services Group, Inc. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1733706 |
|  | Pool Corp. | &nbsp;&nbsp;Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271076 |
|  | PPG Industries, Inc. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;581831 |
|  | PPL Corp. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;16275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;551560 |
|  | Principal Financial Group, Inc. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;406284 |
|  | Procter & Gamble Co. | &nbsp;&nbsp;Household Products | &nbsp;&nbsp;&nbsp;&nbsp;54870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8741888 |
|  | Progressive Corp. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;13485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3598607 |
|  | Prologis, Inc. | &nbsp;&nbsp;Industrial REITs | &nbsp;&nbsp;&nbsp;&nbsp;21855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2297398 |
|  | Prudential Financial, Inc. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;899273 |
| <sup>a</sup> | PTC, Inc. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480829 |
|  | Public Service Enterprise Group, Inc. | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp;&nbsp;&nbsp;11625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;978593 |
|  | Public Storage | &nbsp;&nbsp;Specialized REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1091522 |
|  | PulteGroup, Inc. | &nbsp;&nbsp;Household Durables | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;490389 |
|  | QUALCOMM, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;26040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4147130 |
|  | Quanta Services, Inc. | &nbsp;&nbsp;Construction & Engineering | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1230650 |
|  | Quest Diagnostics, Inc. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501168 |
| <sup>a</sup> | Ralliant Corp. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128595 |
|  | Raymond James Financial, Inc. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;641853 |
|  | Realty Income Corp. | &nbsp;&nbsp;Retail REITs | &nbsp;&nbsp;&nbsp;&nbsp;20925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1205489 |
|  | Regency Centers Corp. | &nbsp;&nbsp;Retail REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264976 |
|  | Regeneron Pharmaceuticals, Inc. | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1220625 |
|  | Regions Financial Corp. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;19995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;470282 |
|  | Reinsurance Group of America, Inc. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276712 |
|  | Republic Services, Inc. | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1146737 |
|  | ResMed, Inc. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;839790 |
|  | Revvity, Inc. | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269849 |
| <sup>a</sup> | Robinhood Markets, Inc., Class A | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;17205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1610904 |
| <sup>a</sup> | ROBLOX Corp., Class A | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;13950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1467540 |
|  | Rockwell Automation, Inc. | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;926754 |
|  | Rollins, Inc. | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;393530 |
|  | Roper Technologies, Inc. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1317903 |
|  | Ross Stores, Inc. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;949195 |
|  | Royal Caribbean Cruises Ltd. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1892931 |
|  | Royalty Pharma PLC, Class A | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301571 |
|  | RTX Corp. | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;31155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4549253 |
|  | S&P Global, Inc. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3677848 |
|  | Salesforce, Inc. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;21855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5959640 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | SBA Communications Corp. | &nbsp;&nbsp;Specialized REITs | &nbsp;&nbsp; 2325 | &nbsp;&nbsp; 546003 |
|  | Schlumberger NV | &nbsp;&nbsp;Energy Equipment & Services | &nbsp;&nbsp; 32085 | &nbsp;&nbsp; 1084473 |
|  | Seagate Technology Holdings PLC | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp; 4650 | &nbsp;&nbsp; 671135 |
|  | Sempra | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp; 15345 | &nbsp;&nbsp; 1162691 |
| <sup>a</sup> | ServiceNow, Inc. | &nbsp;&nbsp;Software | &nbsp;&nbsp; 4832 | &nbsp;&nbsp; 4967683 |
|  | Sherwin-Williams Co. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp; 5580 | &nbsp;&nbsp; 1915949 |
|  | Simon Property Group, Inc. | &nbsp;&nbsp;Retail REITs | &nbsp;&nbsp; 7440 | &nbsp;&nbsp; 1196054 |
|  | Smurfit WestRock PLC | &nbsp;&nbsp;Containers & Packaging | &nbsp;&nbsp; 11625 | &nbsp;&nbsp; 501619 |
| <sup>a</sup> | Snap, Inc., Class A | &nbsp;&nbsp;Interactive Media & Services | &nbsp;&nbsp; 25110 | &nbsp;&nbsp; 218206 |
|  | Snap-on, Inc. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;434096 |
| <sup>a</sup> | Snowflake, Inc., Class A | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1664849 |
|  | Southern Co. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;25575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2348552 |
|  | Southern Copper Corp. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188176 |
|  | Southwest Airlines Co. | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp;&nbsp;&nbsp;12090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;392200 |
|  | SS&C Technologies Holdings, Inc. | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;423522 |
|  | Starbucks Corp. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;26505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2428653 |
|  | State Street Corp. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;692273 |
|  | Steel Dynamics, Inc. | &nbsp;&nbsp;Metals & Mining | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;416673 |
|  | STERIS PLC | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;558512 |
|  | Stryker Corp. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3311423 |
|  | Sun Communities, Inc. | &nbsp;&nbsp;Residential REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;352907 |
| <sup>a</sup> | Super Micro Computer, Inc. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;11625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;569741 |
|  | Synchrony Financial | &nbsp;&nbsp;Consumer Finance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;589648 |
| <sup>a</sup> | Synopsys, Inc. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1907170 |
|  | Sysco Corp. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;11625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;880478 |
|  | T. Rowe Price Group, Inc. | &nbsp;&nbsp;Capital Markets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;493598 |
| <sup>a</sup> | Take-Two Interactive Software, Inc. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;903402 |
|  | Targa Resources Corp. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;890419 |
|  | Target Corp. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;&nbsp;&nbsp;10695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1055062 |
| <sup>a</sup> | Teledyne Technologies, Inc. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476448 |
|  | Teradyne, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;334502 |
| <sup>a</sup> | Tesla, Inc. | &nbsp;&nbsp;Automobiles | &nbsp;&nbsp;&nbsp;&nbsp;65565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20827378 |
|  | Texas Instruments, Inc. | &nbsp;&nbsp;Semiconductors & Semiconductor Equipment | &nbsp;&nbsp;&nbsp;&nbsp;21390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4440992 |
|  | Texas Pacific Land Corp. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;491221 |
|  | Textron, Inc. | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;336014 |
|  | Thermo Fisher Scientific, Inc. | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3582239 |
|  | TJX Cos., Inc. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;26505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3273102 |
|  | T-Mobile U.S., Inc. | &nbsp;&nbsp;Wireless Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;10695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2548191 |
|  | Tractor Supply Co. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;11625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;613451 |
| <sup>a</sup> | Trade Desk, Inc., Class A | &nbsp;&nbsp;Media | &nbsp;&nbsp;&nbsp;&nbsp;10695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;769933 |
|  | Trane Technologies PLC | &nbsp;&nbsp;Building Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2237352 |
|  | TransDigm Group, Inc. | &nbsp;&nbsp;Aerospace & Defense | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1906883 |
|  | TransUnion | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;409200 |
|  | Travelers Cos., Inc. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1368467 |
| <sup>a</sup> | Trimble, Inc. | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;423968 |
|  | Truist Financial Corp. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;30225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1299373 |
| <sup>a</sup> | Twilio, Inc., Class A | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;404792 |
| <sup>a</sup> | Tyler Technologies, Inc. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;551341 |
|  | Tyson Foods, Inc., Class A | &nbsp;&nbsp;Food Products | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;364169 |
|  | U.S. Bancorp | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;36270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1641217 |
| <sup>a</sup> | Uber Technologies, Inc. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;49290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4598757 |
|  | UDR, Inc. | &nbsp;&nbsp;Residential REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;284789 |
| <sup>a</sup> | Ulta Beauty, Inc. | &nbsp;&nbsp;Specialty Retail | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435073 |
|  | Union Pacific Corp. | &nbsp;&nbsp;Ground Transportation | &nbsp;&nbsp;&nbsp;&nbsp;13950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3209616 |
| <sup>a</sup> | United Airlines Holdings, Inc. | &nbsp;&nbsp;Passenger Airlines | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;592447 |
|  | United Parcel Service, Inc., Class B | &nbsp;&nbsp;Air Freight & Logistics | &nbsp;&nbsp;&nbsp;&nbsp;17205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1736673 |
|  | United Rentals, Inc. | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1050993 |
|  | UnitedHealth Group, Inc. | &nbsp;&nbsp;Health Care Providers & Services | &nbsp;&nbsp;&nbsp;&nbsp;21390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6673038 |
|  | Valero Energy Corp. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000085 |
| <sup>a</sup> | Veeva Systems, Inc., Class A | &nbsp;&nbsp;Health Care Technology | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1071286 |
|  | Ventas, Inc. | &nbsp;&nbsp;Health Care REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;616660 |
|  | Veralto Corp. | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;563301 |
|  | VeriSign, Inc. | &nbsp;&nbsp;IT Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;537168 |
|  | Verisk Analytics, Inc. | &nbsp;&nbsp;Professional Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1013933 |
|  | Verizon Communications, Inc. | &nbsp;&nbsp;Diversified Telecommunication Services | &nbsp;&nbsp;&nbsp;&nbsp;98115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4245436 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| <sup>a</sup> | Vertex Pharmaceuticals, Inc. | &nbsp;&nbsp;Biotechnology | &nbsp;&nbsp; 6045 | &nbsp;&nbsp; 2691234 |
|  | Vertiv Holdings Co., Class A | &nbsp;&nbsp;Electrical Equipment | &nbsp;&nbsp; 8835 | &nbsp;&nbsp; 1134502 |
|  | VICI Properties, Inc. | &nbsp;&nbsp;Specialized REITs | &nbsp;&nbsp; 24645 | &nbsp;&nbsp; 803427 |
|  | Visa, Inc., Class A | &nbsp;&nbsp;Financial Services | &nbsp;&nbsp; 40455 | &nbsp;&nbsp; 14363548 |
|  | Vistra Corp. | &nbsp;&nbsp;Independent Power Producers & Energy Traders | &nbsp;&nbsp; 7905 | &nbsp;&nbsp; 1532068 |
|  | Vulcan Materials Co. | &nbsp;&nbsp;Construction Materials | &nbsp;&nbsp; 3255 | &nbsp;&nbsp; 848969 |
|  | W.R. Berkley Corp. | &nbsp;&nbsp;Insurance | &nbsp;&nbsp; 6510 | &nbsp;&nbsp; 478290 |
|  | Walmart, Inc. | &nbsp;&nbsp;Consumer Staples Distribution & Retail | &nbsp;&nbsp;101835 | &nbsp;&nbsp; 9957426 |
|  | Walt Disney Co. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp; 42315 | &nbsp;&nbsp; 5247483 |
| <sup>a</sup> | Warner Bros Discovery, Inc. | &nbsp;&nbsp;Entertainment | &nbsp;&nbsp;&nbsp;&nbsp;52545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;602166 |
|  | Waste Management, Inc. | &nbsp;&nbsp;Commercial Services & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1915223 |
| <sup>a</sup> | Waters Corp. | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486911 |
|  | Watsco, Inc. | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;410707 |
|  | WEC Energy Group, Inc. | &nbsp;&nbsp;Multi-Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775248 |
|  | Wells Fargo & Co. | &nbsp;&nbsp;Banks | &nbsp;&nbsp;&nbsp;&nbsp;77190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6184463 |
|  | Welltower, Inc. | &nbsp;&nbsp;Health Care REITs | &nbsp;&nbsp;&nbsp;&nbsp;15345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2358987 |
|  | West Pharmaceutical Services, Inc. | &nbsp;&nbsp;Life Sciences Tools & Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;406968 |
|  | Western Digital Corp. | &nbsp;&nbsp;Technology Hardware, Storage & Peripherals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;505841 |
|  | Westinghouse Air Brake Technologies Corp. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;876130 |
|  | Westlake Corp. | &nbsp;&nbsp;Chemicals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70615 |
|  | Weyerhaeuser Co. | &nbsp;&nbsp;Specialized REITs | &nbsp;&nbsp;&nbsp;&nbsp;16275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418105 |
|  | Williams Cos., Inc. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;28365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1781606 |
|  | Willis Towers Watson PLC | &nbsp;&nbsp;Insurance | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;712613 |
| <sup>a</sup> | Workday, Inc., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1227600 |
|  | WP Carey, Inc. | &nbsp;&nbsp;Diversified REITs | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;319074 |
|  | WW Grainger, Inc. | &nbsp;&nbsp;Trading Companies & Distributors | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1107856 |
|  | Xcel Energy, Inc. | &nbsp;&nbsp;Electric Utilities | &nbsp;&nbsp;&nbsp;&nbsp;13485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;918329 |
|  | Xylem, Inc. | &nbsp;&nbsp;Machinery | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;721829 |
|  | Yum! Brands, Inc. | &nbsp;&nbsp;Hotels, Restaurants & Leisure | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;964652 |
| <sup>a</sup> | Zebra Technologies Corp., Class A | &nbsp;&nbsp;Electronic Equipment, Instruments & Components | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;430162 |
| <sup>a</sup> | Zillow Group, Inc., Class A | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95544 |
| <sup>a</sup> | Zillow Group, Inc., Class C | &nbsp;&nbsp;Real Estate Management & Development | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260586 |
|  | Zimmer Biomet Holdings, Inc. | &nbsp;&nbsp;Health Care Equipment & Supplies | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;424127 |
|  | Zoetis, Inc. | &nbsp;&nbsp;Pharmaceuticals | &nbsp;&nbsp;&nbsp;&nbsp;10695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1667885 |
| <sup>a</sup> | Zoom Communications, Inc., Class A | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;435128 |
| <sup>a</sup> | Zscaler, Inc. | &nbsp;&nbsp;Software | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;729911 |
|  |  |  |  | &nbsp;&nbsp;1254833927 |
|  | **Total Common Stocks (Cost $977,580,478)** |  |  | &nbsp;&nbsp;1261798182 |
|  | **Preferred Stock 0.0%** |  |  |  |
|  | **Russia 0.0%** |  |  |  |
| <sup>a,b</sup> | Surgutneftegas PAO, pfd. | &nbsp;&nbsp;Oil, Gas & Consumable Fuels | &nbsp;&nbsp;&nbsp;&nbsp;10688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | **Total Preferred Stocks (Cost $6,128)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
|  | **Total Investments before Short-Term Investments (Cost $977,586,606)** |  |  | &nbsp;&nbsp;1261798182 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Short-Term Investments 0.0%<sup>†</sup>** |  |  |  |
|  | **Money Market Funds 0.0%<sup>†</sup>** |  |  |  |
|  | **United States 0.0%<sup>†</sup>** |  |  |  |
| <sup>c,d</sup> | Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;Money Market Funds | &nbsp;&nbsp;876705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;876705 |
|  | **Total Short-Term Investments (Cost $876,705)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;876705 |
|  | **Total Investments (Cost $978,463,311) 99.9%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1262674887 |
|  | **Other Assets, less Liabilities 0.1%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;632276 |
|  | **Net Assets 100.0%** |  |  | &nbsp;&nbsp;$1263307163 |

---

---

| |
|:---|
| <sup>†</sup>Rounds to less than 0.1% of net assets. |
| <sup>a</sup>Non-income producing. |
| <sup>b</sup>Fair valued using significant unobservable inputs. See Note 5 regarding fair value measurements. |
| <sup>c</sup>The rate shown is the annualized seven-day effective yield at period end. |
| <sup>d</sup>See Note 3 regarding investments in affiliated management investment companies. |

---

At June 30, 2025, the Fund had the following futures contracts outstanding.

#### Futures Contracts

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Type** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Notional<br> Amount\*** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value/Unrealized<br> Appreciation<br> (Depreciation)** |
| **Equity Contracts** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;S&P 500 E-Mini | &nbsp;&nbsp;Long | &nbsp;&nbsp;3 | &nbsp;&nbsp;$938063 | &nbsp;&nbsp;9/19/25 | &nbsp;&nbsp;$33144 |

---

\*As of period end.

#### Abbreviations

---

| | |
|:---|:---|
| **Selected Portfolio** |  |
| **REIT** | Real Estate Investment Trust |
| **SBA** | Small Business Administration |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Statement of Investments, June 30, 2025 (unaudited)

---

| | | | |
|:---|:---|:---|:---|
|  | **Franklin U.S. Dividend Multiplier Index ETF** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
|  | **Common Stocks 99.3%** |  |  |
|  | **Communication Services 7.8%** |  |  |
|  | AT&T, Inc. | &nbsp;&nbsp; 25461 | &nbsp;&nbsp;$736841 |
|  | Comcast Corp., Class A | &nbsp;&nbsp; 945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33727 |
|  | Omnicom Group, Inc. | &nbsp;&nbsp; 3402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 244740 |
|  | Verizon Communications, Inc. | &nbsp;&nbsp; 38367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1660140 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2675448 |
|  | **Consumer Discretionary 8.4%** |  |  |
|  | Best Buy Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;11799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;792067 |
| <sup>a</sup> | Carvana Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209252 |
|  | Darden Restaurants, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100048 |
|  | Ford Motor Co. | &nbsp;&nbsp;148257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1608589 |
|  | Genuine Parts Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36029 |
|  | Home Depot, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34098 |
|  | Lennar Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32851 |
|  | McDonald's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31554 |
|  | PulteGroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34169 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2878657 |
|  | **Consumer Staples 10.7%** |  |  |
|  | Altria Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1649496 |
|  | Archer-Daniels-Midland Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;257936 |
|  | Brown-Forman Corp., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1242 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33422 |
|  | Clorox Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32419 |
|  | Estee Lauder Cos., Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67630 |
|  | General Mills, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32174 |
|  | Hormel Foods Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33487 |
|  | Kimberly-Clark Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34808 |
|  | Kraft Heinz Co. | &nbsp;&nbsp;&nbsp;&nbsp;41607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1074293 |
|  | PepsiCo, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32086 |
|  | Philip Morris International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358978 |
|  | Target Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34626 |
|  | Tyson Foods, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33228 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3674583 |
|  | **Energy 10.0%** |  |  |
|  | Chevron Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4077 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;583786 |
|  | ConocoPhillips | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31499 |
|  | Coterra Energy, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1296 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32892 |
|  | Devon Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156314 |
|  | EOG Resources, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206686 |
|  | Exxon Mobil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33202 |
|  | Halliburton Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96846 |
|  | Kinder Morgan, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;35289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1037497 |
|  | ONEOK, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4779 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390110 |
|  | Phillips 66 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93412 |
|  | Texas Pacific Land Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32748 |
|  | Valero Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79845 |
|  | Williams Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;654606 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3429443 |
|  | **Financials 24.8%** |  |  |
| <sup>a</sup> | Affirm Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2457 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169877 |
|  | ARES Management Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;252526 |
|  | Blackstone, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1674 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250397 |
|  | Citigroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50561 |
|  | Citizens Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;372141 |
|  | CME Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1190678 |
| <sup>a</sup> | Coinbase Global, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227118 |
|  | Fifth Third Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1755 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72183 |
|  | Huntington Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;46521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;779692 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | KeyCorp | &nbsp;&nbsp; 50652 | &nbsp;&nbsp; 882358 |
|  | M&T Bank Corp. | &nbsp;&nbsp; 216 | &nbsp;&nbsp; 41902 |
|  | Morgan Stanley | &nbsp;&nbsp; 405 | &nbsp;&nbsp; 57048 |
|  | Northern Trust Corp. | &nbsp;&nbsp; 324 | &nbsp;&nbsp; 41080 |
|  | Principal Financial Group, Inc. | &nbsp;&nbsp; 432 | &nbsp;&nbsp; 34314 |
|  | Prudential Financial, Inc. | &nbsp;&nbsp; 5670 | &nbsp;&nbsp; 609185 |
|  | Regions Financial Corp. | &nbsp;&nbsp; 27837 | &nbsp;&nbsp; 654726 |
| <sup>a</sup> | Robinhood Markets, Inc., Class A | &nbsp;&nbsp; 4077 | &nbsp;&nbsp; 381729 |
| <sup>a</sup> | SoFi Technologies, Inc. | &nbsp;&nbsp; 9774 | &nbsp;&nbsp; 177985 |
|  | T. Rowe Price Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10449 | &nbsp;&nbsp;&nbsp;&nbsp;1008328 |
|  | Truist Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;21303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;915816 |
|  | U.S. Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8451 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382408 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;8552052 |
|  | **Health Care 10.6%** |  |  |
|  | AbbVie, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35082 |
|  | Amgen, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30155 |
|  | Baxter International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107918 |
|  | Bristol-Myers Squibb Co. | &nbsp;&nbsp;&nbsp;&nbsp;19251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;891129 |
|  | Cardinal Health, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36288 |
|  | CVS Health Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486102 |
|  | Gilead Sciences, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95792 |
|  | Johnson & Johnson | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32994 |
|  | Medtronic PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32950 |
|  | Merck & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262890 |
|  | Pfizer, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;67878 | &nbsp;&nbsp;&nbsp;&nbsp;1645363 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;3656663 |
|  | **Industrials 6.8%** |  |  |
|  | Fastenal Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37422 |
|  | Jacobs Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35491 |
|  | Lockheed Martin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33346 |
|  | PACCAR, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;359327 |
|  | RTX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35483 |
|  | Southwest Airlines Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35035 |
| <sup>a</sup> | United Airlines Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;486 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38700 |
|  | United Parcel Service, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;16713 | &nbsp;&nbsp;&nbsp;&nbsp;1687010 |
|  | Vertiv Holdings Co., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79743 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;2341557 |
|  | **Information Technology 8.5%** |  |  |
| <sup>a</sup> | AppLovin Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233854 |
|  | Cisco Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37465 |
|  | Corning, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49698 |
|  | Dell Technologies, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165510 |
|  | HP, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;20331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;497296 |
|  | International Business Machines Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39795 |
|  | Microchip Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;571897 |
| <sup>a</sup> | MicroStrategy, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1091 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;441015 |
| <sup>a</sup> | Palantir Technologies, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;368064 |
|  | QUALCOMM, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34400 |
| <sup>a</sup> | Super Micro Computer, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455205 |
|  | Texas Instruments, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33634 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;2927833 |
|  | **Materials 3.7%** |  |  |
|  | Amcor PLC | &nbsp;&nbsp;&nbsp;&nbsp;14229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130765 |
|  | Dow, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;24543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;649899 |
|  | LyondellBasell Industries NV, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476477 |
|  | Newmont Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34606 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;1291747 |
|  | **Utilities 8.0%** |  |  |
|  | Dominion Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;772176 |
|  | Edison International | &nbsp;&nbsp;&nbsp;&nbsp;26217 | &nbsp;&nbsp;&nbsp;&nbsp;1352797 |
|  | Eversource Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;572008 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | FirstEnergy Corp. | &nbsp;&nbsp; 864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34785 |
|  | Vistra Corp. | &nbsp;&nbsp; 189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36630 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2768396 |
|  | **Total Common Stocks (Cost $33,175,868)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34196379 |
|  | **Total Investments before Short-Term Investments<br> (Cost $33,175,868)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34196379 |
|  | **Short-Term Investments 0.1%** |  |  |
|  | **Money Market Funds 0.1%** |  |  |
| <sup>b,c</sup> | Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp; 37987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37987 |
|  | **Total Short-Term Investments (Cost $37,987)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37987 |
|  | **Total Investments (Cost $33,213,855) 99.4%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34234366 |
|  | **Other Assets, less Liabilities 0.6%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213037 |
|  | **Net Assets 100.0%** |  | &nbsp;&nbsp;$34447403 |

---

<sup>a</sup>Non-income producing. <br> <sup>b</sup>The rate shown is the annualized seven-day effective yield at period end. <br> <sup>c</sup>See Note 3 regarding investments in affiliated management investment companies.

At June 30, 2025, the Fund had the following futures contracts outstanding.

#### Futures Contracts

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Type** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Notional<br> Amount\*** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value/Unrealized<br> Appreciation<br> (Depreciation)** |
| **Equity Contracts** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;S&P 500 E-Mini | &nbsp;&nbsp;Long | &nbsp;&nbsp;7 | &nbsp;&nbsp;$218881 | &nbsp;&nbsp;9/19/25 | &nbsp;&nbsp;$4743 |

---

\*As of period end.

#### Abbreviations

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | |
|:---|:---|:---|:---|
|  | **Franklin U.S. Large Cap Multifactor Index ETF** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
|  | **Common Stocks 99.7%** |  |  |
|  | **Communication Services 12.5%** |  |  |
|  | Alphabet, Inc., Class A | &nbsp;&nbsp; 162097 | &nbsp;&nbsp;$28566354 |
|  | Alphabet, Inc., Class C | &nbsp;&nbsp; 133237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23634912 |
|  | AT&T, Inc. | &nbsp;&nbsp; 673400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19488196 |
|  | Fox Corp., Class A | &nbsp;&nbsp; 26455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1482538 |
|  | Fox Corp., Class B | &nbsp;&nbsp; 28160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1453901 |
|  | Meta Platforms, Inc., Class A | &nbsp;&nbsp; 65897 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48637917 |
| <sup>a</sup> | Netflix, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25764861 |
| <sup>a</sup> | ROBLOX Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2580661 |
| <sup>a</sup> | Spotify Technology SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11072716 |
|  | T-Mobile U.S., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10199672 |
|  | Verizon Communications, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;393939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17045741 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189927469 |
|  | **Consumer Discretionary 11.2%** |  |  |
|  | ADT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;174122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1474813 |
| <sup>a</sup> | Amazon.com, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;217893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47803545 |
| <sup>a</sup> | AutoZone, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2691367 |
|  | Best Buy Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1453029 |
|  | Booking Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18757138 |
|  | Boyd Gaming Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1505145 |
| <sup>a</sup> | Chewy, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1373515 |
| <sup>a</sup> | Crocs, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1461470 |
|  | Darden Restaurants, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2096871 |
|  | Domino's Pizza, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1377484 |
| <sup>a</sup> | DoorDash, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5572852 |
| <sup>a</sup> | Duolingo, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1183318 |
| <sup>a</sup> | Dutch Bros, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1381211 |
|  | eBay, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3330819 |
|  | Expedia Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1541567 |
|  | Garmin Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3112224 |
|  | General Motors Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86580 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4260602 |
| <sup>a</sup> | Grand Canyon Education, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1363635 |
| <sup>a</sup> | Lululemon Athletica, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1599864 |
|  | McDonald's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8994161 |
| <sup>a</sup> | O'Reilly Automotive, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6242764 |
|  | Ralph Lauren Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1451216 |
|  | Royal Caribbean Cruises Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6614143 |
|  | Tapestry, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1900647 |
| <sup>a</sup> | Tesla, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20016074 |
|  | Texas Roadhouse, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1352163 |
|  | TJX Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;102934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12711320 |
|  | Travel & Leisure Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1539113 |
| <sup>a</sup> | Ulta Beauty, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1437611 |
|  | Williams-Sonoma, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2121686 |
|  | Yum! Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2708434 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170429801 |
|  | **Consumer Staples 6.5%** |  |  |
|  | Altria Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;203944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11957237 |
| <sup>a</sup> | BJ's Wholesale Club Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1452254 |
|  | Costco Wholesale Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24240661 |
|  | Ingredion, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1435131 |
|  | Kellanova | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1874443 |
|  | Kimberly-Clark Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3760081 |
|  | Kroger Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3553719 |
| <sup>a</sup> | Monster Beverage Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1807790 |
|  | Philip Morris International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;115921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21112692 |
|  | Pilgrim's Pride Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1319758 |
| <sup>a</sup> | Sprouts Farmers Market, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1346261 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | Walmart, Inc. | &nbsp;&nbsp; 249639 | &nbsp;&nbsp; 24409701 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98269728 |
|  | **Energy 0.7%** |  |  |
|  | Antero Midstream Corp. | &nbsp;&nbsp; 76960 | &nbsp;&nbsp; 1458392 |
|  | APA Corp. | &nbsp;&nbsp; 85137 | &nbsp;&nbsp; 1557156 |
|  | Devon Energy Corp. | &nbsp;&nbsp; 52296 | &nbsp;&nbsp; 1663536 |
|  | DT Midstream, Inc. | &nbsp;&nbsp; 13949 | &nbsp;&nbsp; 1533134 |
|  | EOG Resources, Inc. | &nbsp;&nbsp; 34632 | &nbsp;&nbsp; 4142333 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10354551 |
|  | **Financials 10.8%** |  |  |
|  | Aon PLC, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5662851 |
|  | Axis Capital Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1448185 |
|  | Bank of New York Mellon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5346517 |
| <sup>a</sup> | Berkshire Hathaway, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19860706 |
|  | Capital One Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6856617 |
|  | Citigroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;181818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15476348 |
|  | CME Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4640063 |
|  | Equitable Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1551558 |
| <sup>a</sup> | Freedom Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1264501 |
|  | Interactive Brokers Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35594 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1972264 |
|  | JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19801433 |
|  | Lincoln National Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43771 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1514477 |
|  | LPL Financial Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2164327 |
|  | Mastercard, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24866969 |
|  | MGIC Investment Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1526579 |
|  | Moody's Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7961738 |
| <sup>a</sup> | Mr. Cooper Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1650710 |
|  | Northern Trust Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1829580 |
|  | Progressive Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6289623 |
|  | Rithm Capital Corp. | &nbsp;&nbsp;&nbsp;&nbsp;129870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1466232 |
| <sup>a</sup> | Robinhood Markets, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34151 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3197558 |
|  | SEI Investments Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1512793 |
|  | SLM Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1466795 |
|  | Synchrony Financial | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2824971 |
| <sup>a</sup> | Toast, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1619065 |
|  | Unum Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18759 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1514977 |
|  | Visa, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15199335 |
|  | W.R. Berkley Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1413563 |
|  | Western Union Co. | &nbsp;&nbsp;&nbsp;&nbsp;155844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1312206 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;163212541 |
|  | **Health Care 13.0%** |  |  |
|  | Abbott Laboratories | &nbsp;&nbsp;&nbsp;&nbsp;149110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20280451 |
|  | AbbVie, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;118807 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22052955 |
|  | Amgen, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6177800 |
| <sup>a</sup> | Boston Scientific Corp. | &nbsp;&nbsp;&nbsp;&nbsp;145743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15654256 |
|  | Bristol-Myers Squibb Co. | &nbsp;&nbsp;&nbsp;&nbsp;173160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8015576 |
|  | Cardinal Health, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3070704 |
|  | Chemed Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1232907 |
| <sup>a</sup> | Corcept Therapeutics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18759 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1376911 |
| <sup>a</sup> | DaVita, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1504699 |
| <sup>a</sup> | Doximity, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27898 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1711263 |
|  | Eli Lilly & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15748065 |
|  | Encompass Health Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1533611 |
| <sup>a</sup> | Exelixis, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1526405 |
|  | Gilead Sciences, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;113997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12638847 |
| <sup>a</sup> | Halozyme Therapeutics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1351168 |
|  | HCA Healthcare, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7696 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2948338 |
| <sup>a</sup> | IDEXX Laboratories, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1805857 |
| <sup>a</sup> | Insulet Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1813447 |
| <sup>a</sup> | Intuitive Surgical, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17512474 |
|  | Johnson & Johnson | &nbsp;&nbsp;&nbsp;&nbsp;149591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22850025 |
|  | Labcorp Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1767742 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| <sup>a</sup> | Medpace Holdings, Inc. | &nbsp;&nbsp; 4810 | &nbsp;&nbsp; 1509667 |
|  | Medtronic PLC | &nbsp;&nbsp; 78884 | &nbsp;&nbsp; 6876318 |
|  | Organon & Co. | &nbsp;&nbsp; 154882 | &nbsp;&nbsp; 1499258 |
|  | Quest Diagnostics, Inc. | &nbsp;&nbsp; 10582 | &nbsp;&nbsp; 1900845 |
|  | ResMed, Inc. | &nbsp;&nbsp; 12506 | &nbsp;&nbsp; 3226548 |
|  | Royalty Pharma PLC, Class A | &nbsp;&nbsp; 44252 | &nbsp;&nbsp; 1594400 |
|  | Stryker Corp. | &nbsp;&nbsp; 30303 | &nbsp;&nbsp; 11988776 |
| <sup>a</sup> | Tenet Healthcare Corp. | &nbsp;&nbsp; 10101 | &nbsp;&nbsp; 1777776 |
| <sup>a</sup> | United Therapeutics Corp. | &nbsp;&nbsp; 4329 | &nbsp;&nbsp; 1243938 |
| <sup>a</sup> | Veeva Systems, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800739 |
| <sup>a</sup> | Waters Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1510994 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;197502760 |
|  | **Industrials 8.2%** |  |  |
|  | 3M Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7542426 |
|  | Allegion PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1455756 |
|  | Allison Transmission Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1325015 |
|  | Armstrong World Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1484539 |
|  | Automatic Data Processing, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10828849 |
|  | Broadridge Financial Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1402769 |
|  | Caterpillar, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15871966 |
|  | Cintas Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7258430 |
|  | Comfort Systems USA, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2063336 |
|  | Concentrix Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1372856 |
|  | Curtiss-Wright Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1644948 |
|  | EMCOR Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2058257 |
| <sup>a</sup> | ExlService Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1369094 |
|  | Fastenal Co. | &nbsp;&nbsp;&nbsp;&nbsp;123617 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5191914 |
|  | Genpact Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1481817 |
|  | Howmet Aerospace, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7520396 |
|  | Illinois Tool Works, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5708508 |
|  | Johnson Controls International PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2895784 |
|  | Lennox International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1930099 |
|  | Mueller Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18759 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1490778 |
|  | Parker-Hannifin Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7391210 |
|  | Paychex, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3428347 |
|  | Paycom Software, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1335641 |
|  | Republic Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4836762 |
|  | Rollins, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1546867 |
|  | Ryder System, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9620 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1529580 |
|  | Snap-on, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1347098 |
|  | SS&C Technologies Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1632899 |
|  | Trane Technologies PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3997490 |
| <sup>a</sup> | Uber Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7584264 |
| <sup>a</sup> | United Airlines Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2144914 |
|  | Valmont Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1413721 |
|  | WW Grainger, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4316996 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;124403326 |
|  | **Information Technology 33.1%** |  |  |
|  | Amdocs Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1448252 |
|  | Amphenol Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;115440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11399700 |
|  | Apple, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;427609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87732539 |
| <sup>a</sup> | Arista Networks, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9743800 |
|  | Broadcom, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;138182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38089868 |
|  | Cisco Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;325637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22592695 |
| <sup>a</sup> | Cloudflare, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2449050 |
|  | Cognizant Technology Solutions Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3603113 |
|  | Corning, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3844960 |
| <sup>a</sup> | Docusign, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1498604 |
| <sup>a</sup> | Dropbox, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1430686 |
| <sup>a</sup> | F5, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1840383 |
| <sup>a</sup> | Fortinet, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6356415 |
| <sup>a</sup> | Guidewire Software, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1698772 |
|  | Hewlett Packard Enterprise Co. | &nbsp;&nbsp;&nbsp;&nbsp;118326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2419767 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | HP, Inc. | &nbsp;&nbsp; 86099 | &nbsp;&nbsp; 2105982 |
|  | International Business Machines Corp. | &nbsp;&nbsp; 76960 | &nbsp;&nbsp; 22686269 |
|  | Intuit, Inc. | &nbsp;&nbsp; 11063 | &nbsp;&nbsp; 8713551 |
|  | KLA Corp. | &nbsp;&nbsp; 5772 | &nbsp;&nbsp; 5170211 |
|  | Lam Research Corp. | &nbsp;&nbsp; 51772 | &nbsp;&nbsp; 5039486 |
|  | Microsoft Corp. | &nbsp;&nbsp; 196729 | &nbsp;&nbsp; 97854972 |
|  | Monolithic Power Systems, Inc. | &nbsp;&nbsp; 1924 | &nbsp;&nbsp; 1407175 |
|  | NetApp, Inc. | &nbsp;&nbsp; 19721 | &nbsp;&nbsp; 2101273 |
| <sup>a</sup> | Nutanix, Inc., Class A | &nbsp;&nbsp; 18759 | &nbsp;&nbsp; 1433938 |
|  | NVIDIA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;619047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97803235 |
| <sup>a</sup> | Palantir Technologies, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;159692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21769213 |
|  | Pegasystems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1588228 |
|  | QUALCOMM, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;101972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16240061 |
|  | TD SYNNEX Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1631792 |
|  | Texas Instruments, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16677492 |
| <sup>a</sup> | Twilio, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1495429 |
| <sup>b</sup> | Ubiquiti, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1584029 |
| <sup>a</sup> | Zscaler, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1661057 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;503111997 |
|  | **Materials 1.0%** |  |  |
|  | Anglogold Ashanti PLC, NULL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1512423 |
|  | CF Industries Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1593072 |
|  | Mosaic Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1456391 |
|  | NewMarket Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1661518 |
|  | Newmont Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4483690 |
|  | Royal Gold, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1454198 |
|  | Southern Copper Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1605871 |
|  | Steel Dynamics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1662466 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15429629 |
|  | **Real Estate 1.9%** |  |  |
| <sup>b</sup> | Agree Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1405674 |
|  | Cousins Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51467 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1545554 |
|  | EPR Properties | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1513245 |
|  | Gaming & Leisure Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1408429 |
|  | Highwoods Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1510383 |
| <sup>b</sup> | Kilroy Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1534789 |
| <sup>b</sup> | Medical Properties Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;316979 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1366180 |
|  | NNN REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1495410 |
|  | Omega Healthcare Investors, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1427921 |
|  | Realty Income Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74074 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4267403 |
|  | VICI Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3151801 |
|  | Welltower, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6654972 |
|  | WP Carey, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1440229 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28721990 |
|  | **Utilities 0.8%** |  |  |
|  | Atmos Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1782282 |
|  | Entergy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3238438 |
|  | Evergy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1491990 |
|  | National Fuel Gas Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1466839 |
|  | NRG Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2703364 |
|  | UGI Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1453996 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12136909 |
|  | **Total Common Stocks (Cost $1,170,793,037)** |  | &nbsp;&nbsp;1513500701 |
|  | **Total Investments before Short-Term Investments<br> (Cost $1,170,793,037)** |  | &nbsp;&nbsp;1513500701 |
|  | **Short-Term Investments 0.9%** |  |  |
|  | **Investments from Cash Collateral Received for Loaned Securities 0.3%** |  |  |
|  | **Money Market Funds 0.3%** |  |  |
| <sup>c,d</sup> | Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;5021495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5021495 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Money Market Funds 0.6%** |  |  |
| <sup>c,d</sup> | Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;9328407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9328407 |
|  | **Total Short-Term Investments (Cost $14,349,902)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14349902 |
|  | **Total Investments (Cost $1,185,142,939) 100.6%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1527850603 |
|  | **Other Assets, less Liabilities (0.6)%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9327303) |
|  | **Net Assets 100.0%** |  | &nbsp;&nbsp;$1518523300 |

---

---

| |
|:---|
| <sup>a</sup>Non-income producing. |
| <sup>b</sup>A portion or all of the security is on loan at June 30, 2025. |
| <sup>c</sup>The rate shown is the annualized seven-day effective yield at period end. |
| <sup>d</sup>See Note 3 regarding investments in affiliated management investment companies. |

---

At June 30, 2025, the Fund had the following futures contracts outstanding.

#### Futures Contracts

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Type** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Notional<br> Amount\*** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value/Unrealized<br> Appreciation<br> (Depreciation)** |
| **Equity Contracts** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;S&P 500 E-Mini | &nbsp;&nbsp;Long | &nbsp;&nbsp;14 | &nbsp;&nbsp;$4377625 | &nbsp;&nbsp;9/19/25 | &nbsp;&nbsp;$92365 |

---

\*As of period end.

#### Abbreviations

---

| | |
|:---|:---|
| **Selected Portfolio** |  |
| **REIT** | Real Estate Investment Trust |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | |
|:---|:---|:---|:---|
|  | **Franklin U.S. Mid Cap Multifactor Index ETF** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
|  | **Common Stocks 99.7%** |  |  |
|  | **Communication Services 2.9%** |  |  |
|  | Electronic Arts, Inc. | &nbsp;&nbsp; 114576 | &nbsp;&nbsp;$18297787 |
|  | Fox Corp., Class A | &nbsp;&nbsp; 126280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7076731 |
|  | Fox Corp., Class B | &nbsp;&nbsp; 60984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3148604 |
|  | Millicom International Cellular SA | &nbsp;&nbsp; 33264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1246402 |
|  | Nexstar Media Group, Inc. | &nbsp;&nbsp; 8624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1491521 |
|  | Omnicom Group, Inc. | &nbsp;&nbsp; 141680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10192459 |
| <sup>a</sup> | Pinterest, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6781557 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48235061 |
|  | **Consumer Discretionary 18.5%** |  |  |
| <sup>a</sup> | AutoNation, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3548684 |
|  | Bath & Body Works, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4355465 |
|  | Best Buy Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11619934 |
|  | Columbia Sportswear Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1204009 |
| <sup>a</sup> | Crocs, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4055251 |
|  | Darden Restaurants, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7519093 |
| <sup>a</sup> | Deckers Outdoor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10610541 |
|  | Dick's Sporting Goods, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7920312 |
| <sup>b</sup> | Dillard's, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;772150 |
| <sup>a</sup> | Duolingo, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4546302 |
|  | eBay, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16787454 |
| <sup>a</sup> | Etsy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1637624 |
|  | Expedia Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12884453 |
|  | Gap, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2807907 |
|  | Garmin Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16971441 |
|  | Genuine Parts Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11358498 |
| <sup>a</sup> | Grand Canyon Education, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3376296 |
|  | H&R Block, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5342334 |
|  | Hasbro, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3001226 |
|  | Lear Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1521200 |
|  | LKQ Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177408 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6565870 |
| <sup>a</sup> | Lululemon Athletica, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8341909 |
|  | Macy's, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2600087 |
|  | Murphy USA, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5262365 |
| <sup>a</sup> | NVR, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1671 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12341438 |
|  | Pool Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6643412 |
|  | PulteGroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13317489 |
|  | Ralph Lauren Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8109911 |
| <sup>a</sup> | Skechers USA, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5402874 |
|  | Somnigroup International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8551435 |
|  | Tapestry, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14658650 |
|  | Texas Roadhouse, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10620899 |
|  | Tractor Supply Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17975995 |
| <sup>a</sup> | Ulta Beauty, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16426095 |
|  | Wendy's Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;112728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1287354 |
|  | Williams-Sonoma, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15900475 |
|  | Wingstop, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5808091 |
| <sup>a</sup> | YETI Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;757236 |
|  | Yum! Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16977872 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309389631 |
|  | **Consumer Staples 9.7%** |  |  |
|  | Albertsons Cos., Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;375144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8069347 |
| <sup>a</sup> | BellRing Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3354379 |
| <sup>a</sup> | BJ's Wholesale Club Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10494878 |
|  | Brown-Forman Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355352 |
|  | Casey's General Stores, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11630074 |
|  | Clorox Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9911058 |
|  | Coca-Cola Consolidated, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3713926 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | Dollar General Corp. | &nbsp;&nbsp; 135520 | &nbsp;&nbsp; 15500778 |
|  | Flowers Foods, Inc. | &nbsp;&nbsp; 152768 | &nbsp;&nbsp; 2441233 |
|  | General Mills, Inc. | &nbsp;&nbsp; 260568 | &nbsp;&nbsp; 13500028 |
|  | Hershey Co. | &nbsp;&nbsp; 93016 | &nbsp;&nbsp; 15436005 |
|  | Ingredion, Inc. | &nbsp;&nbsp; 28336 | &nbsp;&nbsp; 3842928 |
|  | Kellanova | &nbsp;&nbsp; 147840 | &nbsp;&nbsp; 11757715 |
|  | Kenvue, Inc. | &nbsp;&nbsp; 579040 | &nbsp;&nbsp; 12119307 |
|  | Kroger Co. | &nbsp;&nbsp; 241472 | &nbsp;&nbsp; 17320787 |
|  | Pilgrim's Pride Corp. | &nbsp;&nbsp; 12936 | &nbsp;&nbsp; 581861 |
| <sup>a</sup> | Sprouts Farmers Market, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5578003 |
|  | Sysco Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;226072 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17122693 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;162730352 |
|  | **Energy 4.2%** |  |  |
|  | Antero Midstream Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4961110 |
|  | APA Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4393989 |
|  | Cheniere Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16950940 |
|  | Devon Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;398552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12677939 |
|  | DT Midstream, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6364229 |
|  | Ovintiv, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6586303 |
|  | Permian Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2600875 |
|  | Texas Pacific Land Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12815067 |
|  | Viper Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2301832 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69652284 |
|  | **Financials 14.5%** |  |  |
|  | Affiliated Managers Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4121151 |
|  | Allstate Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15872891 |
|  | Ally Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6502157 |
|  | Arch Capital Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173712 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15816478 |
|  | Cincinnati Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16328780 |
|  | CNA Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;687900 |
|  | Columbia Banking System, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3038839 |
|  | Commerce Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3638188 |
|  | Everest Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11304770 |
|  | FactSet Research Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7163636 |
|  | Globe Life, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8575016 |
|  | Hartford Insurance Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16099296 |
|  | Invesco Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3448584 |
|  | Janus Henderson Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3182084 |
|  | Kinsale Capital Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8048225 |
| <sup>a</sup> | Markel Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7845630 |
|  | MGIC Investment Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6345293 |
|  | MSCI, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17053048 |
|  | Old Republic International Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5896081 |
|  | OneMain Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4072992 |
|  | Principal Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5088604 |
|  | Prosperity Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4240248 |
|  | Prudential Financial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11582032 |
|  | SEI Investments Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7528111 |
|  | Synchrony Financial | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18253657 |
|  | T. Rowe Price Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11888800 |
|  | Unum Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9153661 |
|  | W.R. Berkley Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6969658 |
| <sup>b</sup> | Western Union Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;318472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2681534 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;242427344 |
|  | **Health Care 12.4%** |  |  |
| <sup>a</sup> | Acadia Healthcare Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1425658 |
| <sup>a</sup> | Alnylam Pharmaceuticals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41272 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13458387 |
|  | Cencora, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16993099 |
|  | Chemed Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4499233 |
| <sup>a</sup> | Corcept Therapeutics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2034648 |
|  | Encompass Health Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11104392 |
| <sup>a</sup> | Exelixis, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6651799 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| <sup>a</sup> | Halozyme Therapeutics, Inc. | &nbsp;&nbsp; 42504 | &nbsp;&nbsp; 2211058 |
| <sup>a</sup> | IDEXX Laboratories, Inc. | &nbsp;&nbsp; 32032 | &nbsp;&nbsp; 17180043 |
| <sup>a</sup> | Incyte Corp. | &nbsp;&nbsp; 134904 | &nbsp;&nbsp; 9186962 |
| <sup>a</sup> | Inspire Medical Systems, Inc. | &nbsp;&nbsp; 16016 | &nbsp;&nbsp; 2078396 |
| <sup>a</sup> | Mettler-Toledo International, Inc. | &nbsp;&nbsp; 14168 | &nbsp;&nbsp; 16643433 |
| <sup>a</sup> | Molina Healthcare, Inc. | &nbsp;&nbsp; 15400 | &nbsp;&nbsp; 4587660 |
| <sup>a</sup> | Neurocrine Biosciences, Inc. | &nbsp;&nbsp; 80696 | &nbsp;&nbsp; 10142680 |
|  | Organon & Co. | &nbsp;&nbsp; 218680 | &nbsp;&nbsp; 2116822 |
|  | ResMed, Inc. | &nbsp;&nbsp; 67144 | &nbsp;&nbsp; 17323152 |
|  | Royalty Pharma PLC, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10608962 |
|  | STERIS PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7546752 |
| <sup>a</sup> | Tenet Healthcare Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12034176 |
| <sup>a</sup> | United Therapeutics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9204395 |
|  | Universal Health Services, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8592307 |
|  | Viatris, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;755216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6744079 |
| <sup>a</sup> | Waters Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15910639 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;208278732 |
|  | **Industrials 19.3%** |  |  |
|  | Allegion PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8433902 |
|  | Allison Transmission Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6553550 |
|  | Armstrong World Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3602269 |
|  | Booz Allen Hamilton Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12123231 |
| <sup>a</sup> | CACI International, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5872944 |
|  | CH Robinson Worldwide, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7860992 |
|  | Concentrix Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1465141 |
|  | Cummins, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16744420 |
|  | Delta Air Lines, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16753069 |
|  | Donaldson Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5468109 |
|  | Expeditors International of Washington, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10978968 |
|  | Fastenal Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;399168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16765056 |
|  | Ferguson Enterprises, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19717698 |
|  | Genpact Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5666023 |
|  | HEICO Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4040960 |
|  | HEICO Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5897430 |
|  | Knight-Swift Transportation Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2152409 |
|  | Leidos Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10786998 |
|  | Lennox International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13771518 |
|  | ManpowerGroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1269206 |
|  | MSC Industrial Direct Co., Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3089967 |
|  | Old Dominion Freight Line, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102872 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16696126 |
|  | Otis Worldwide Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17139966 |
|  | Paychex, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15232571 |
|  | Paycom Software, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7697290 |
|  | Robert Half, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2933269 |
|  | Rollins, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12129397 |
|  | Ryder System, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4015704 |
| <sup>a</sup> | Saia, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4219446 |
|  | Schneider National, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;833078 |
|  | Snap-on, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11309526 |
|  | Toro Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66528 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4702199 |
| <sup>a</sup> | United Airlines Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15500457 |
|  | Veralto Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15235374 |
|  | WW Grainger, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15776280 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;322434543 |
|  | **Information Technology 11.9%** |  |  |
|  | Amdocs Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6856868 |
| <sup>a</sup> | Appfolio, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2978902 |
|  | Avnet, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2583085 |
|  | CDW Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13641419 |
| <sup>a</sup> | Cirrus Logic, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3532159 |
| <sup>a</sup> | Docusign, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8396542 |
|  | Dolby Laboratories, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3202091 |
| <sup>a</sup> | Dropbox, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3188786 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| <sup>a</sup> | F5, Inc. | &nbsp;&nbsp; 40656 | &nbsp;&nbsp; 11965874 |
| <sup>a</sup> | Fair Isaac Corp. | &nbsp;&nbsp; 9555 | &nbsp;&nbsp; 17466158 |
| <sup>a</sup> | Gartner, Inc. | &nbsp;&nbsp; 37576 | &nbsp;&nbsp; 15188971 |
| <sup>a</sup> | GoDaddy, Inc., Class A | &nbsp;&nbsp; 90552 | &nbsp;&nbsp; 16304793 |
|  | HP, Inc. | &nbsp;&nbsp; 561176 | &nbsp;&nbsp; 13726365 |
|  | Ingram Micro Holding Corp. | &nbsp;&nbsp; 6160 | &nbsp;&nbsp; 128374 |
|  | Juniper Networks, Inc. | &nbsp;&nbsp; 206976 | &nbsp;&nbsp; 8264552 |
| <sup>a</sup> | Manhattan Associates, Inc. | &nbsp;&nbsp; 52976 | &nbsp;&nbsp; 10461171 |
|  | Monolithic Power Systems, Inc. | &nbsp;&nbsp; 14168 | &nbsp;&nbsp; 10362192 |
|  | NetApp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16736874 |
| <sup>a</sup> | Nutanix, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8946538 |
|  | Pegasystems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2300741 |
| <sup>a</sup> | RingCentral, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750935 |
| <sup>a</sup> | Teradata Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1181895 |
|  | Ubiquiti, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;507153 |
|  | VeriSign, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17434278 |
|  | Vontier Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000550 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;200107266 |
|  | **Materials 1.4%** |  |  |
|  | Avery Dennison Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9079520 |
|  | NewMarket Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2724061 |
|  | RPM International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77616 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8525341 |
|  | Sealed Air Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3077431 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23406353 |
|  | **Real Estate 3.5%** |  |  |
|  | American Homes 4 Rent, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3555059 |
|  | Camden Property Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7844126 |
|  | Cousins Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2700778 |
|  | EastGroup Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2573648 |
|  | Equity LifeStyle Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127512 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7863665 |
|  | Highwoods Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2547142 |
| <sup>b</sup> | Kilroy Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2599600 |
|  | Lamar Advertising Co., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5831105 |
|  | NNN REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;129976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5612364 |
|  | Omega Healthcare Investors, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5553794 |
|  | STAG Industrial, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4134469 |
|  | WP Carey, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7685216 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58500966 |
|  | **Utilities 1.4%** |  |  |
|  | AES Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2235710 |
|  | American Water Works Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16024359 |
|  | National Fuel Gas Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5009411 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23269480 |
|  | **Total Common Stocks (Cost $1,608,423,853)** |  | &nbsp;&nbsp;1668432012 |
|  | **Total Investments before Short-Term Investments<br> (Cost $1,608,423,853)** |  | &nbsp;&nbsp;1668432012 |
|  | **Short-Term Investments 0.9%** |  |  |
|  | **Investments from Cash Collateral Received for Loaned Securities 0.3%** |  |  |
|  | **Money Market Funds 0.3%** |  |  |
| <sup>c,d</sup> | Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;&nbsp;5242775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5242775 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Money Market Funds 0.6%** |  |  |
| <sup>c,d</sup> | Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;10645828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10645828 |
|  | **Total Short-Term Investments (Cost $15,888,603)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15888603 |
|  | **Total Investments (Cost $1,624,312,456) 100.6%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1684320615 |
|  | **Other Assets, less Liabilities (0.6)%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10705884) |
|  | **Net Assets 100.0%** |  | &nbsp;&nbsp;$1673614731 |

---

---

| |
|:---|
| <sup>a</sup>Non-income producing. |
| <sup>b</sup>A portion or all of the security is on loan at June 30, 2025. |
| <sup>c</sup>The rate shown is the annualized seven-day effective yield at period end. |
| <sup>d</sup>See Note 3 regarding investments in affiliated management investment companies. |

---

At June 30, 2025, the Fund had the following futures contracts outstanding.

#### Futures Contracts

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Type** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Notional<br> Amount\*** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value/Unrealized<br> Appreciation<br> (Depreciation)** |
| **Equity Contracts** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;S&P MidCap 400 E-Mini | &nbsp;&nbsp;Long | &nbsp;&nbsp;12 | &nbsp;&nbsp;$3750600 | &nbsp;&nbsp;9/19/25 | &nbsp;&nbsp;$113256 |

---

\*As of period end.

#### Abbreviations

---

| | |
|:---|:---|
| **Selected Portfolio** |  |
| **REIT** | Real Estate Investment Trust |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | |
|:---|:---|:---|:---|
|  | **Franklin U.S. Small Cap Multifactor Index ETF** | &nbsp;&nbsp;**Shares** | &nbsp;&nbsp;**Value** |
|  | **Common Stocks 99.5%** |  |  |
|  | **Communication Services 3.1%** |  |  |
| <sup>a</sup> | AMC Networks, Inc., Class A | &nbsp;&nbsp; 2250 | &nbsp;&nbsp;$14108 |
| <sup>a</sup> | Arena Group Holdings, Inc. | &nbsp;&nbsp; 437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2709 |
|  | Cable One, Inc. | &nbsp;&nbsp; 184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24989 |
| <sup>a</sup> | Cargurus, Inc. | &nbsp;&nbsp; 5566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 186294 |
|  | Cinemark Holdings, Inc. | &nbsp;&nbsp; 5612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 169370 |
| <sup>a</sup> | EverQuote, Inc., Class A | &nbsp;&nbsp; 1748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42267 |
| <sup>a</sup> | Gambling.com Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14494 |
| <sup>a</sup> | Ibotta, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26938 |
|  | IDT Corp., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83692 |
|  | John Wiley & Sons, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140406 |
| <sup>a</sup> | Playstudios, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8220 |
|  | Playtika Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11314 |
|  | Scholastic Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34743 |
|  | Shutterstock, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35076 |
|  | Spok Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23178 |
|  | TEGNA, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;192355 |
|  | Telephone & Data Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247957 |
| <sup>a</sup> | Travelzoo | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3221 |
| <sup>a</sup> | Yelp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168677 |
| <sup>a</sup> | ZipRecruiter, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26157 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1456165 |
|  | **Consumer Discretionary 15.5%** |  |  |
| <sup>a</sup> | Abercrombie & Fitch Co., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310605 |
|  | Academy Sports & Outdoors, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;209218 |
|  | Acushnet Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170836 |
| <sup>a</sup> | Adtalem Global Education, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;333597 |
|  | American Eagle Outfitters, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114170 |
| <sup>a</sup> | American Public Education, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28023 |
| <sup>a</sup> | BARK, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5583 |
|  | Bassett Furniture Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4894 |
|  | Bloomin' Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66142 |
|  | Buckle, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116822 |
|  | Build-A-Bear Workshop, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1058 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54550 |
|  | Caleres, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2507 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30636 |
|  | Carter's, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41579 |
| <sup>b</sup> | Cheesecake Factory, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278148 |
|  | Cracker Barrel Old Country Store, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120816 |
|  | Cricut, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16661 |
|  | Designer Brands, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4927 |
| <sup>a</sup> | Dorman Products, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189034 |
| <sup>a</sup> | Envela Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1689 |
|  | Ermenegildo Zegna NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17699 |
|  | Escalade, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9087 |
|  | Ethan Allen Interiors, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52525 |
| <sup>a</sup> | Figs, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46829 |
|  | Flexsteel Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9008 |
| <sup>a</sup> | Foot Locker, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132422 |
| <sup>a</sup> | Frontdoor, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310437 |
| <sup>a</sup> | Genesco, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14492 |
| <sup>a</sup> | G-III Apparel Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62339 |
|  | Group 1 Automotive, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371640 |
|  | Hamilton Beach Brands Holding Co., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8498 |
|  | Haverty Furniture Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23871 |
| <sup>a</sup> | Helen of Troy Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6981 |
|  | Installed Building Products, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286168 |
|  | J Jill, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7408 |
|  | Jack in the Box, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2619 |
|  | JAKKS Pacific, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12426 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | Kontoor Brands, Inc. | &nbsp;&nbsp; 4623 | &nbsp;&nbsp; 304979 |
| <sup>a</sup> | Laureate Education, Inc. | &nbsp;&nbsp; 4186 | &nbsp;&nbsp; 97869 |
|  | La-Z-Boy, Inc. | &nbsp;&nbsp; 3105 | &nbsp;&nbsp; 115413 |
|  | LCI Industries | &nbsp;&nbsp; 1564 | &nbsp;&nbsp; 142621 |
| <sup>a</sup> | Lincoln Educational Services Corp. | &nbsp;&nbsp; 2231 | &nbsp;&nbsp; 51425 |
| <sup>a</sup> | Lovesac Co. | &nbsp;&nbsp; 874 | &nbsp;&nbsp; 15907 |
|  | Marine Products Corp. | &nbsp;&nbsp; 552 | &nbsp;&nbsp; 4698 |
|  | Matthews International Corp., Class A | &nbsp;&nbsp; 1909 | &nbsp;&nbsp; 45644 |
| <sup>a</sup> | Mister Car Wash, Inc. | &nbsp;&nbsp; 3404 | &nbsp;&nbsp; 20458 |
|  | Monarch Casino & Resort, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89465 |
|  | Monro, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12852 |
|  | Movado Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18239 |
|  | Nathan's Famous, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22890 |
| <sup>a</sup> | ODP Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40865 |
|  | Oxford Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47213 |
|  | Papa John's International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115939 |
|  | Patrick Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184632 |
|  | Perdoceo Education Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184960 |
| <sup>a</sup> | PlayAGS, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16662 |
| <sup>a</sup> | Portillo's, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45898 |
| <sup>a</sup> | Potbelly Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22258 |
| <sup>a</sup> | RealReal, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26551 |
| <sup>a</sup> | Revolve Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62716 |
|  | Rocky Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11650 |
| <sup>a</sup> | Rush Street Interactive, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44551 |
| <sup>a</sup> | Sally Beauty Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8947 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82849 |
| <sup>a</sup> | Savers Value Village, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13607 |
|  | Shoe Carnival, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21086 |
|  | Signet Jewelers Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225047 |
| <sup>a</sup> | Sleep Number Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8856 |
|  | Smith & Wesson Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25354 |
|  | Sonic Automotive, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82728 |
| <sup>a</sup> | Sonos, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83291 |
|  | Standard Motor Products, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1633 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50166 |
|  | Steven Madden Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131818 |
|  | Strategic Education, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133143 |
| <sup>a</sup> | Stride, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;444136 |
|  | Sturm Ruger & Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38808 |
|  | Super Group SGHC Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70899 |
|  | Superior Group of Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7468 |
| <sup>a</sup> | Target Hospitality Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13756 |
| <sup>a</sup> | Tile Shop Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13604 |
| <sup>a</sup> | Torrid Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1403 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4139 |
| <sup>a</sup> | Universal Technical Institute, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103670 |
|  | Upbound Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103914 |
| <sup>a</sup> | Urban Outfitters, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155163 |
| <sup>a</sup> | Victoria's Secret & Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63042 |
|  | Weyco Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14491 |
|  | Winmark Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43425 |
|  | Wolverine World Wide, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98970 |
| <sup>a,c</sup> | XPEL, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56973 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;7309137 |
|  | **Consumer Staples 6.3%** |  |  |
|  | Cal-Maine Foods, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343724 |
| <sup>a</sup> | Central Garden & Pet Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24274 |
| <sup>a</sup> | Central Garden & Pet Co., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121624 |
| <sup>a</sup> | Chefs' Warehouse, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83655 |
|  | Edgewell Personal Care Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71611 |
|  | Energizer Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98300 |
| <sup>a</sup> | FitLife Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1797 |
|  | Fresh Del Monte Produce, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54433 |
| <sup>a</sup> | Grocery Outlet Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42278 |
| <sup>a</sup> | Herbalife Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32713 |
|  | Ingles Markets, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1058 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67056 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | Interparfums, Inc. | &nbsp;&nbsp; 1587 | &nbsp;&nbsp; 208389 |
|  | J&J Snack Foods Corp. | &nbsp;&nbsp; 966 | &nbsp;&nbsp; 109554 |
|  | John B Sanfilippo & Son, Inc. | &nbsp;&nbsp; 621 | &nbsp;&nbsp; 39272 |
|  | Lancaster Colony Corp. | &nbsp;&nbsp; 1311 | &nbsp;&nbsp; 226502 |
|  | Lifevantage Corp. | &nbsp;&nbsp; 391 | &nbsp;&nbsp; 5114 |
| <sup>a</sup> | Lifeway Foods, Inc. | &nbsp;&nbsp; 276 | &nbsp;&nbsp; 6803 |
| <sup>a</sup> | Mama's Creations, Inc. | &nbsp;&nbsp; 2024 | &nbsp;&nbsp; 16799 |
| <sup>a</sup> | Medifast, Inc. | &nbsp;&nbsp; 367 | &nbsp;&nbsp; 5156 |
| <sup>a</sup> | National Beverage Corp. | &nbsp;&nbsp; 1840 | &nbsp;&nbsp; 79562 |
|  | Natural Grocers by Vitamin Cottage, Inc., Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32499 |
| <sup>a</sup> | Nature's Sunshine Products, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15988 |
|  | Nu Skin Enterprises, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15772 |
|  | Oil-Dri Corp. of America | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37990 |
|  | PriceSmart, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205353 |
|  | SpartanNash Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78596 |
|  | Tootsie Roll Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21542 |
|  | Turning Point Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81907 |
| <sup>a</sup> | United Natural Foods, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98112 |
|  | Universal Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107162 |
| <sup>a</sup> | USANA Health Sciences, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;897 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27385 |
|  | Village Super Market, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31878 |
| <sup>a</sup> | Vita Coco Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85521 |
| <sup>a</sup> | Vital Farms, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82394 |
|  | WD-40 Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;246565 |
|  | Weis Markets, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95034 |
| <sup>b</sup> | WK Kellogg Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50594 |
| <sup>a</sup> | Zevia PBC, Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3629 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;2956537 |
|  | **Energy 3.0%** |  |  |
|  | Archrock, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9407 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233576 |
|  | Ardmore Shipping Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22963 |
| <sup>b</sup> | Atlas Energy Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52584 |
|  | California Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204830 |
|  | Evolution Petroleum Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9635 |
|  | FLEX LNG Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1058 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23255 |
|  | International Seaways, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98168 |
|  | Kodiak Gas Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92220 |
|  | Magnolia Oil & Gas Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249730 |
|  | Nordic American Tankers Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18026 |
|  | Northern Oil & Gas, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178010 |
| <sup>a</sup> | PrimeEnergy Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3367 |
|  | Riley Exploration Permian, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20328 |
|  | Scorpio Tankers, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108899 |
|  | SFL Corp. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68781 |
|  | Teekay Tankers Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60452 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;1444824 |
|  | **Financials 14.2%** |  |  |
| <sup>a</sup> | ACRES Commercial Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3714 |
|  | AG Mortgage Investment Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7120 |
|  | Apollo Commercial Real Estate Finance, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56996 |
|  | ARES Commercial Real Estate Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13714 |
|  | Artisan Partners Asset Management, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174350 |
|  | Banco Latinoamericano de Comercio Exterior SA, Class E | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76006 |
|  | Bank First Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35177 |
|  | Bank of Marin Bancorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21013 |
|  | Bank7 Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10457 |
| <sup>b</sup> | Blackstone Mortgage Trust, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;267421 |
| <sup>a</sup> | Bowhead Specialty Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25896 |
|  | Bread Financial Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1794 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102473 |
|  | Brookline Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62604 |
|  | Cass Information Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33978 |
|  | Central Pacific Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44484 |
|  | Chemung Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12117 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | Chicago Atlantic Real Estate Finance, Inc. | &nbsp;&nbsp; 1058 | &nbsp;&nbsp; 14770 |
|  | Chimera Investment Corp. | &nbsp;&nbsp; 2714 | &nbsp;&nbsp; 37643 |
|  | Citizens & Northern Corp. | &nbsp;&nbsp; 1035 | &nbsp;&nbsp; 19603 |
|  | City Holding Co. | &nbsp;&nbsp; 897 | &nbsp;&nbsp; 109811 |
|  | CNO Financial Group, Inc. | &nbsp;&nbsp; 6555 | &nbsp;&nbsp; 252892 |
| <sup>a</sup> | Consumer Portfolio Services, Inc. | &nbsp;&nbsp; 650 | &nbsp;&nbsp; 6390 |
|  | Donegal Group, Inc., Class A | &nbsp;&nbsp; 529 | &nbsp;&nbsp; 10593 |
| <sup>a</sup> | Donnelley Financial Solutions, Inc. | &nbsp;&nbsp; 1702 | &nbsp;&nbsp; 104928 |
|  | Eagle Bancorp, Inc. | &nbsp;&nbsp; 2025 | &nbsp;&nbsp; 39447 |
|  | Enact Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91426 |
| <sup>a</sup> | Enova International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189807 |
|  | ESSA Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10709 |
|  | Essent Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483289 |
|  | First Busey Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72637 |
|  | First Business Financial Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26799 |
|  | First Capital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4748 |
|  | First Community Bankshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;966 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37838 |
|  | First Interstate BancSystem, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95452 |
|  | First United Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6419 |
|  | FirstCash Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335688 |
| <sup>a</sup> | Flywire Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45209 |
|  | GCM Grosvenor, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30576 |
| <sup>a</sup> | Genworth Financial, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214191 |
|  | Goosehead Insurance, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114056 |
|  | Guaranty Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25464 |
| <sup>a</sup> | Hamilton Insurance Group Ltd., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48731 |
|  | Heritage Commerce Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35748 |
|  | Home Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22473 |
|  | Home BancShares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13018 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370492 |
| <sup>a</sup> | International Money Express, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25992 |
|  | Jackson Financial, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;455404 |
|  | Kearny Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20058 |
|  | KKR Real Estate Finance Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39465 |
|  | Lument Finance Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3812 |
|  | Medallion Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;713 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6795 |
|  | Mercury General Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1771 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119259 |
|  | Middlefield Banc Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7618 |
|  | NBT Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142392 |
| <sup>a</sup> | NerdWallet, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27973 |
|  | Nexpoint Real Estate Finance, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7584 |
|  | Nicolet Bankshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53961 |
| <sup>a</sup> | NMI Holdings, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223185 |
|  | Northeast Community Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;759 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17643 |
|  | Northwest Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99352 |
|  | OceanFirst Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60754 |
|  | Pagseguro Digital Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56760 |
| <sup>a</sup> | Palomar Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141910 |
|  | Parke Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13118 |
| <sup>a</sup> | Payoneer Global, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9683 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66329 |
|  | Penns Woods Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7681 |
|  | Peoples Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72349 |
|  | PJT Partners, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220123 |
|  | Preferred Bank | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71400 |
|  | Regional Management Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21177 |
| <sup>a</sup> | Remitly Global, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101452 |
|  | Riverview Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3669 |
|  | Selective Insurance Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;356738 |
|  | Seven Hills Realty Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9994 |
|  | Southern Missouri Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30239 |
|  | Stock Yards Bancorp, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125341 |
| <sup>a</sup> | StoneCo Ltd., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125433 |
|  | Tompkins Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;897 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56269 |
|  | TPG RE Finance Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36670 |
|  | TrustCo Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43045 |
|  | United Security Bancshares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4178 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | Value Line, Inc. | &nbsp;&nbsp; 25 | &nbsp;&nbsp; 979 |
| <sup>a</sup> | World Acceptance Corp. | &nbsp;&nbsp; 300 | &nbsp;&nbsp; 49536 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;6730986 |
|  | **Health Care 10.2%** |  |  |
| <sup>a</sup> | ACADIA Pharmaceuticals, Inc. | &nbsp;&nbsp; 9775 | &nbsp;&nbsp; 210847 |
| <sup>a</sup> | Alkermes PLC | &nbsp;&nbsp; 12995 | &nbsp;&nbsp; 371787 |
| <sup>a</sup> | Amicus Therapeutics, Inc. | &nbsp;&nbsp; 9499 | &nbsp;&nbsp; 54429 |
| <sup>a</sup> | Ardent Health, Inc. | &nbsp;&nbsp; 1081 | &nbsp;&nbsp; 14766 |
| <sup>a</sup> | Artivion, Inc. | &nbsp;&nbsp; 2461 | &nbsp;&nbsp; 76537 |
| <sup>a</sup> | AtriCure, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117153 |
| <sup>a</sup> | Axogen, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33635 |
| <sup>a</sup> | BioCryst Pharmaceuticals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72128 |
| <sup>a</sup> | Catalyst Pharmaceuticals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186663 |
| <sup>a</sup> | Collegium Pharmaceutical, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55769 |
| <sup>a</sup> | Community Health Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31045 |
|  | Concentra Group Holdings Parent, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121589 |
|  | CONMED Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114993 |
| <sup>a</sup> | CorVel Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200935 |
| <sup>a</sup> | Cross Country Healthcare, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27914 |
| <sup>a</sup> | Electromed, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6575 |
|  | Embecta Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44797 |
| <sup>a</sup> | Fennec Pharmaceuticals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12599 |
| <sup>a</sup> | Harmony Biosciences Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87216 |
|  | HealthStream, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30548 |
| <sup>a,b</sup> | Hims & Hers Health, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;407025 |
| <sup>a</sup> | Indivior PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78314 |
| <sup>a</sup> | Innoviva, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79476 |
|  | iRadimed Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39880 |
| <sup>a</sup> | Lantheus Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280534 |
|  | LeMaitre Vascular, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114609 |
| <sup>a</sup> | LENSAR, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4241 |
| <sup>a</sup> | LifeStance Health Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25209 |
| <sup>a</sup> | Merit Medical Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346156 |
| <sup>a</sup> | MiMedx Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58320 |
| <sup>a</sup> | Myriad Genetics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16488 |
|  | National HealthCare Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91066 |
|  | National Research Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20093 |
| <sup>a</sup> | Niagen Bioscience, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51703 |
| <sup>a</sup> | Option Care Health, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;318986 |
| <sup>a</sup> | Organogenesis Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19123 |
| <sup>a</sup> | Pacira BioSciences, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35730 |
| <sup>a</sup> | Pediatrix Medical Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95054 |
| <sup>a</sup> | Performant Healthcare, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22540 |
|  | Phibro Animal Health Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38770 |
| <sup>a</sup> | Prestige Consumer Healthcare, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;304867 |
| <sup>a</sup> | Pro-Dex, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3011 |
| <sup>a</sup> | Progyny, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49588 |
| <sup>a</sup> | Protagonist Therapeutics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125850 |
| <sup>a</sup> | Protalix BioTherapeutics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3472 |
| <sup>a</sup> | Puma Biotechnology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10098 |
| <sup>a</sup> | Rigel Pharmaceuticals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20603 |
| <sup>a</sup> | SANUWAVE Health, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7558 |
| <sup>a,b</sup> | Semler Scientific, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16929 |
|  | SIGA Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22644 |
| <sup>a</sup> | Sonida Senior Living, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6238 |
| <sup>a</sup> | Surmodics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24511 |
| <sup>a</sup> | Tactile Systems Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1725 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17492 |
| <sup>a</sup> | Treace Medical Concepts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18257 |
| <sup>a</sup> | TruBridge, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8080 |
| <sup>a</sup> | Vanda Pharmaceuticals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19107 |
| <sup>a</sup> | Vericel Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123395 |
| <sup>a</sup> | Viemed Healthcare, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18277 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;4815219 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Industrials 19.0%** |  |  |
|  | Acme United Corp. | &nbsp;&nbsp; 115 | &nbsp;&nbsp; 4767 |
|  | Alamo Group, Inc. | &nbsp;&nbsp; 667 | &nbsp;&nbsp; 145659 |
|  | Allient, Inc. | &nbsp;&nbsp; 1012 | &nbsp;&nbsp; 36746 |
|  | Apogee Enterprises, Inc. | &nbsp;&nbsp; 1357 | &nbsp;&nbsp; 55094 |
|  | Atmus Filtration Technologies, Inc. | &nbsp;&nbsp; 4646 | &nbsp;&nbsp; 169207 |
|  | Barrett Business Services, Inc. | &nbsp;&nbsp; 1840 | &nbsp;&nbsp; 76710 |
| <sup>a</sup> | Blue Bird Corp. | &nbsp;&nbsp; 1104 | &nbsp;&nbsp; 47649 |
| <sup>a</sup> | Bowman Consulting Group Ltd. | &nbsp;&nbsp; 775 | &nbsp;&nbsp; 22281 |
| <sup>a</sup> | BrightView Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54762 |
|  | Brink's Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3013 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269031 |
| <sup>a</sup> | Byrna Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;713 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22017 |
|  | Cadre Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31500 |
| <sup>a</sup> | Cimpress PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60536 |
|  | CompX International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3321 |
|  | Costamare, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27239 |
|  | Covenant Logistics Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31054 |
|  | CRA International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86190 |
|  | CSG Systems International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156222 |
|  | CSW Industrials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;310063 |
|  | Deluxe Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53060 |
|  | Douglas Dynamics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23046 |
| <sup>a</sup> | DXP Enterprises, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80638 |
|  | Enerpac Tool Group Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123140 |
|  | Ennis, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37550 |
|  | ESCO Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;361867 |
|  | Exponent, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276651 |
|  | Federal Signal Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;332882 |
| <sup>a</sup> | Forrester Research, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6187 |
| <sup>a</sup> | Franklin Covey Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19420 |
|  | Franklin Electric Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280707 |
|  | Global Industrial Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32925 |
| <sup>a</sup> | GMS, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335167 |
|  | Gorman-Rupp Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48140 |
|  | Griffon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144812 |
|  | Heartland Express, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33186 |
|  | Heidrick & Struggles International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76831 |
|  | Hillenbrand, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89091 |
|  | HNI Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3473 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170802 |
|  | Hub Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65356 |
| <sup>a</sup> | Huron Consulting Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155008 |
|  | Hyster-Yale, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27846 |
| <sup>a</sup> | IBEX Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18915 |
|  | ICF International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111055 |
| <sup>a</sup> | IES Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162926 |
| <sup>a</sup> | Innodata, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77752 |
|  | Insperity, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152104 |
|  | Interface, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71727 |
|  | Kadant, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248246 |
|  | Karat Packaging, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14784 |
|  | Kelly Services, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24240 |
|  | Kforce, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65273 |
|  | Korn Ferry | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;305273 |
| <sup>a</sup> | Legalzoom.com, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88735 |
| <sup>a</sup> | Liquidity Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37980 |
|  | LSI Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28951 |
|  | Luxfer Holdings PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20730 |
|  | McGrath RentCorp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186696 |
|  | MillerKnoll, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90672 |
| <sup>a</sup> | Mistras Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11606 |
|  | Moog, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337147 |
|  | Mueller Water Products, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240520 |
|  | National Presto Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34286 |
|  | NL Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4320 |
| <sup>a</sup> | NV5 Global, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98779 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | Omega Flex, Inc. | &nbsp;&nbsp; 299 | &nbsp;&nbsp; 9682 |
| <sup>a</sup> | PAMT Corp. | &nbsp;&nbsp; 475 | &nbsp;&nbsp; 6113 |
|  | Preformed Line Products Co. | &nbsp;&nbsp; 161 | &nbsp;&nbsp; 25729 |
|  | Primoris Services Corp. | &nbsp;&nbsp; 2783 | &nbsp;&nbsp; 216907 |
| <sup>a</sup> | Radiant Logistics, Inc. | &nbsp;&nbsp; 2277 | &nbsp;&nbsp; 13844 |
| <sup>a</sup> | RCM Technologies, Inc. | &nbsp;&nbsp; 184 | &nbsp;&nbsp; 4337 |
| <sup>a</sup> | Resideo Technologies, Inc. | &nbsp;&nbsp; 9177 | &nbsp;&nbsp; 202445 |
|  | Resources Connection, Inc. | &nbsp;&nbsp; 2622 | &nbsp;&nbsp; 14080 |
|  | REV Group, Inc. | &nbsp;&nbsp; 2898 | &nbsp;&nbsp; 137916 |
|  | Rush Enterprises, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3979 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204958 |
|  | Rush Enterprises, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31383 |
|  | Safe Bulkers, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14862 |
|  | Standex International Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115169 |
|  | Steelcase, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66210 |
|  | Tennant Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103358 |
|  | UniFirst Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;966 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181820 |
| <sup>a</sup> | Upwork, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107265 |
|  | Virco Mfg. Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5187 |
|  | Watts Water Technologies, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;463749 |
|  | Werner Enterprises, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5083 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139071 |
| <sup>a</sup> | WNS Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95998 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;8977160 |
|  | **Information Technology 15.4%** |  |  |
|  | A10 Networks, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121499 |
| <sup>a</sup> | ACI Worldwide, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301996 |
| <sup>a</sup> | Agilysys, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176660 |
| <sup>a</sup> | Appian Corp., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39146 |
| <sup>a</sup> | Asana, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3082 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41607 |
| <sup>a</sup> | AvePoint, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139457 |
| <sup>a</sup> | Aviat Networks, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19841 |
| <sup>a</sup> | Axcelis Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155478 |
|  | Badger Meter, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456342 |
|  | Belden, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;287647 |
| <sup>a</sup> | BK Technologies Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4336 |
| <sup>a</sup> | BlackLine, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157574 |
| <sup>a</sup> | Box, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367020 |
| <sup>a</sup> | Calix, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204303 |
|  | Clear Secure, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6463 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;179413 |
|  | Climb Global Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24589 |
| <sup>a</sup> | Commvault Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;441055 |
| <sup>a</sup> | CompoSecure, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2507 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35324 |
| <sup>a</sup> | Consensus Cloud Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30555 |
| <sup>a</sup> | Couchbase, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63924 |
| <sup>a</sup> | CPI Card Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7709 |
| <sup>a</sup> | Crexendo, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2792 |
| <sup>a</sup> | Daily Journal Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38847 |
| <sup>a</sup> | Domo, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26990 |
| <sup>a</sup> | eGain Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7331 |
| <sup>a</sup> | ePlus, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131006 |
|  | Frequency Electronics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5223 |
|  | Hackett Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47357 |
| <sup>a</sup> | Harmonic, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7751 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73402 |
|  | Immersion Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17139 |
|  | Information Services Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13440 |
|  | InterDigital, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1909 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;428055 |
| <sup>a</sup> | LiveRamp Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69913 |
| <sup>a</sup> | Mitek Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26235 |
| <sup>a</sup> | M-Tron Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3864 |
|  | Napco Security Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70336 |
|  | NVE Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25395 |
|  | OneSpan, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47216 |
| <sup>a</sup> | Ooma, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27413 |
| <sup>a</sup> | OSI Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253417 |
|  | PC Connection, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48414 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| <sup>a</sup> | Plexus Corp. | &nbsp;&nbsp; 1679 | &nbsp;&nbsp; 227186 |
|  | Progress Software Corp. | &nbsp;&nbsp; 2967 | &nbsp;&nbsp; 189413 |
| <sup>a</sup> | Qualys, Inc. | &nbsp;&nbsp; 2967 | &nbsp;&nbsp; 423895 |
| <sup>a</sup> | Rambus, Inc. | &nbsp;&nbsp; 7406 | &nbsp;&nbsp; 474134 |
| <sup>a</sup> | Rapid7, Inc. | &nbsp;&nbsp; 2162 | &nbsp;&nbsp; 50007 |
|  | Red Violet, Inc. | &nbsp;&nbsp; 391 | &nbsp;&nbsp; 19237 |
|  | Richardson Electronics Ltd. | &nbsp;&nbsp; 713 | &nbsp;&nbsp; 6880 |
| <sup>a</sup> | Rimini Street, Inc. | &nbsp;&nbsp; 4186 | &nbsp;&nbsp; 15781 |
|  | Sapiens International Corp. NV | &nbsp;&nbsp; 2175 | &nbsp;&nbsp; 63619 |
| <sup>a</sup> | SEMrush Holdings, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2507 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22688 |
| <sup>a</sup> | SoundThinking, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4204 |
| <sup>a</sup> | Sprinklr, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30938 |
| <sup>a</sup> | SPS Commerce, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;347438 |
| <sup>a</sup> | Varonis Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350175 |
| <sup>a</sup> | Viavi Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111636 |
| <sup>a</sup> | Vishay Precision Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20682 |
| <sup>a</sup> | WM Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4659 |
| <sup>a</sup> | Workiva, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3266 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223558 |
| <sup>a</sup> | Yext, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61387 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;7266777 |
|  | **Materials 2.1%** |  |  |
|  | Caledonia Mining Corp. PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20769 |
|  | Greif, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110613 |
|  | Greif, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23808 |
|  | Hawkins, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169952 |
|  | Innospec, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135385 |
|  | Myers Industries, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2599 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37659 |
|  | Ryerson Holding Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35720 |
|  | Sensient Technologies Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301373 |
|  | SunCoke Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45046 |
|  | Sylvamo Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111773 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;992098 |
|  | **Real Estate 5.3%** |  |  |
|  | American Assets Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64049 |
|  | Brandywine Realty Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44303 |
|  | Broadstone Net Lease, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13409 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215214 |
|  | CareTrust REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;392017 |
|  | Community Healthcare Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32129 |
| <sup>a</sup> | Compass, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22724 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142707 |
|  | COPT Defense Properties | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107204 |
|  | Elme Communities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82648 |
|  | Essential Properties Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;354488 |
|  | Four Corners Property Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188774 |
|  | Innovative Industrial Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109225 |
|  | LTC Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99504 |
|  | LXP Industrial Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81311 |
| <sup>a</sup> | NET Lease Office Properties | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25454 |
|  | NexPoint Diversified Real Estate Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4722 |
|  | One Liberty Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22500 |
| <sup>a</sup> | Paramount Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71974 |
|  | Peakstone Realty Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28071 |
|  | Piedmont Realty Trust, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;63715 |
|  | Postal Realty Trust, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10841 |
|  | RMR Group, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21255 |
|  | SITE Centers Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28614 |
|  | Strawberry Fields REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2667 |
|  | Tanger, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256016 |
| <sup>a</sup> | Transcontinental Realty Investors, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2940 |
|  | Universal Health Realty Income Trust | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36972 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;2489314 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
|  | **Utilities 5.4%** |  |  |
|  | American States Water Co. | &nbsp;&nbsp; 2622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 201002 |
|  | Avista Corp. | &nbsp;&nbsp; 5428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 205993 |
|  | California Water Service Group | &nbsp;&nbsp; 3956 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 179919 |
|  | H2O America | &nbsp;&nbsp; 2185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 113554 |
|  | MGE Energy, Inc. | &nbsp;&nbsp; 2277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 201378 |
|  | Northwest Natural Holding Co. | &nbsp;&nbsp; 2691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 106886 |
|  | Northwestern Energy Group, Inc. | &nbsp;&nbsp; 4393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 225361 |
|  | Portland General Electric Co. | &nbsp;&nbsp; 5336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 216802 |
|  | Southwest Gas Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;331928 |
|  | Spire, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;279187 |
|  | TXNM Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;397675 |
|  | Unitil Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52776 |
|  | York Water Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34160 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2546621 |
|  | **Total Common Stocks (Cost $43,885,060)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46984838 |
|  | **Total Investments before Short-Term Investments<br> (Cost $43,885,060)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46984838 |
|  | **Short-Term Investments 2.7%** |  |  |
|  | **Investments from Cash Collateral Received for Loaned Securities 2.1%** |  |  |
|  | **Money Market Funds 2.1%** |  |  |
| <sup>d,e</sup> | Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;1008045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1008045 |
|  | **Money Market Funds 0.6%** |  |  |
| <sup>d,e</sup> | Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;&nbsp;280595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280595 |
|  | **Total Short-Term Investments (Cost $1,288,640)** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1288640 |
|  | **Total Investments (Cost $45,173,700) 102.2%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48273478 |
|  | **Other Assets, less Liabilities (2.2)%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1059253) |
|  | **Net Assets 100.0%** |  | &nbsp;&nbsp;$47214225 |

---

---

| |
|:---|
| <sup>a</sup>Non-income producing. |
| <sup>b</sup>A portion or all of the security is on loan at June 30, 2025. |
| <sup>c</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional buyers or in a public offering registered under the Securities Act of 1933. At June 30, 2025, the value of this security was $56,973, representing 0.1% of net assets. |
| <sup>d</sup>The rate shown is the annualized seven-day effective yield at period end. |
| <sup>e</sup>See Note 3 regarding investments in affiliated management investment companies. |

---

At June 30, 2025, the Fund had the following futures contracts outstanding.

#### Futures Contracts

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Type** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Notional<br> Amount\*** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value/Unrealized<br> Appreciation<br> (Depreciation)** |
| **Index Contracts** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Micro E-Mini Russell 2000 Index Futures | &nbsp;&nbsp;Long | &nbsp;&nbsp;18 | &nbsp;&nbsp;$197253 | &nbsp;&nbsp;9/19/25 | &nbsp;&nbsp;$3565 |

---

\*As of period end.

#### Abbreviations

---

| | |
|:---|:---|
| **Selected Portfolio** |  |
| **REIT** | Real Estate Investment Trust |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | |
|:---|:---|:---|:---|
| **Franklin U.S. Treasury Bond ETF** | &nbsp;&nbsp;**Country** | &nbsp;&nbsp;**Principal Amount\*** | &nbsp;&nbsp;**Value** |
| **U.S. Government & Agency Securities 98.0%** |  |  |  |
| U.S. Treasury Bonds, |  |  |  |
| 1.75%, 8/15/41 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;$1992656 |
| 3.125%, 2/15/42 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 75610000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 61763919 |
| 3.125%, 5/15/48 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 68500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 51993106 |
| 3.875%, 5/15/43 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 14850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13268707 |
| 4.00%, 11/15/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 37000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32370664 |
| 4.125%, 8/15/53 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20630000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18434033 |
| 4.375%, 5/15/40 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 4750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4644053 |
| 4.625%, 2/15/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 15500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15093125 |
| 4.75%, 2/15/45 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7462500 |
| 5.00%, 5/15/37 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 2200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2339906 |
| U.S. Treasury Inflation-Indexed Notes, |  |  |  |
| <sup>a</sup> 1.625%, 4/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 15114600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15228089 |
| <sup>a</sup> 1.75%, 1/15/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10435000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10349361 |
| <sup>a</sup> 2.125%, 4/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5185150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5325888 |
| U.S. Treasury Notes, |  |  |  |
| 1.125%, 2/29/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 26303000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24600497 |
| 1.25%, 4/30/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;121000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 113111367 |
| 1.25%, 9/30/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7403281 |
| 1.25%, 8/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 8000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6845312 |
| 1.375%, 11/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 30630000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26213776 |
| 1.875%, 2/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 19784000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17383258 |
| 3.50%, 1/31/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 26400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26097328 |
| 3.75%, 4/30/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5200000 |
| 3.75%, 12/31/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 65000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64692774 |
| 3.75%, 8/31/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9908984 |
| 3.875%, 4/30/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 8200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8233953 |
| 4.00%, 3/31/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 18000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18171563 |
| 4.00%, 1/31/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 7500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7554785 |
| 4.125%, 10/31/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;190900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 192667316 |
| 4.125%, 8/31/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 8100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8218652 |
| 4.125%, 11/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5035547 |
| 4.25%, 6/30/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 16000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16299375 |
| 4.25%, 5/15/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 12500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12520508 |
| 4.375%, 12/15/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 14600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14711211 |
| 4.375%, 5/15/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 21100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21435457 |
| 4.50%, 11/15/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 65000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 65038364 |
| 4.625%, 2/15/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10320313 |
| U.S. Treasury STRIPS Coupon, |  |  |  |
| <sup>b</sup> 4.134%, 2/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 32100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28009974 |
| <sup>b</sup> 4.259%, 2/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 70200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 56187146 |
| **Total U.S. Government & Agency Securities (Cost $1,004,055,430)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1006126748 |
| **Total Investments before Short-Term Investments (Cost $1,004,055,430)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1006126748 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  |  |  | &nbsp;&nbsp;**Shares** |  |
|  | **Short-Term Investments 1.4%** |  |  |  |
|  | **Money Market Funds 1.4%** |  |  |  |
|  | **United States 1.4%** |  |  |  |
| <sup>c,d</sup> | Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;United States | &nbsp;&nbsp; 14843165 | &nbsp;&nbsp;$14843165 |
|  | **Total Short-Term Investments (Cost $14,843,165)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14843165 |
|  | **Total Investments (Cost $1,018,898,595) 99.4%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1020969913 |
|  | **Other Assets, less Liabilities 0.6%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5890053 |
|  | **Net Assets 100.0%** |  |  | &nbsp;&nbsp;$1026859966 |

---

---

| |
|:---|
| \*The principal amount is stated in U.S. dollars unless otherwise indicated. |
| <sup>a</sup>Principal amount of security, redemption price at maturity, and/or coupon payments are adjusted for inflation. |
| <sup>b</sup>The rate shown represents the yield at period end. |
| <sup>c</sup>The rate shown is the annualized seven-day effective yield at period end. |
| <sup>d</sup>See Note 3 regarding investments in affiliated management investment companies. |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Franklin Ultra Short Bond ETF** | &nbsp;&nbsp;**Country** | &nbsp;&nbsp;**Principal Amount\*** | &nbsp;&nbsp;**Value** |
|  | **Corporate Bonds & Notes 80.6%** |  |  |  |
|  | **Aerospace & Defense 0.9%** |  |  |  |
|  | Boeing Co., |  |  |  |
|  | 2.196%, 2/04/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 480000 | &nbsp;&nbsp;$472576 |
|  | 3.10%, 5/01/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 296089 |
|  | Howmet Aerospace, Inc., 5.90%, 2/01/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 112925 |
|  | RTX Corp., 5.00%, 2/27/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 501538 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1383128 |
|  | **Agriculture 0.9%** |  |  |  |
| <sup>a,b</sup> | Cargill, Inc., 1 day USD SOFR + 0.61%, 4.972%, 2/11/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;330000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;330870 |
|  | Philip Morris International, Inc., |  |  |  |
|  | 4.375%, 11/01/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200970 |
|  | <sup>b</sup> 1 day USD SOFR + 0.83%, 5.185%, 4/28/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 753543 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1285383 |
|  | **Auto Manufacturers 6.7%** |  |  |  |
|  | American Honda Finance Corp., |  |  |  |
|  | <sup>b</sup> 1 day USD SOFR + 0.60%, 4.968%, 8/14/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300136 |
|  | <sup>b</sup> 1 day USD SOFR + 0.72%, 5.07%, 10/22/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 925000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 925214 |
|  | <sup>b</sup> 1 day USD SOFR + 0.82%, 5.208%, 3/03/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 370000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 370744 |
|  | BMW U.S. Capital LLC, |  |  |  |
|  | <sup>a,b</sup> 1 day USD SOFR Index + 0.92%, 5.286%, 8/13/27 | &nbsp;&nbsp;Germany | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 501376 |
|  | <sup>a,b</sup> 1 day USD SOFR Index + 0.92%, 5.326%, 3/21/28 | &nbsp;&nbsp;Germany | &nbsp;&nbsp; 365000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 364123 |
|  | <sup>a</sup> 4.65%, 3/19/27 | &nbsp;&nbsp;Germany | &nbsp;&nbsp; 595000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 598615 |
|  | Daimler Truck Finance North America LLC, |  |  |  |
|  | <sup>a</sup> 5.00%, 1/15/27 | &nbsp;&nbsp;Germany | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 504977 |
|  | <sup>a,b</sup> 1 day USD SOFR + 0.84%, 5.185%, 1/13/28 | &nbsp;&nbsp;Germany | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 299034 |
|  | General Motors Financial Co., Inc., 5.40%, 4/06/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;803779 |
|  | Hyundai Capital America, |  |  |  |
|  | <sup>a</sup> 5.30%, 3/19/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 740000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 748382 |
|  | <sup>a,b</sup> 1 day USD SOFR + 1.04%, 5.449%, 6/24/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 687000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 686699 |
|  | <sup>a,b</sup> 1 day USD SOFR + 1.04%, 5.445%, 3/19/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 299690 |
|  | Mercedes-Benz Finance North America LLC, |  |  |  |
|  | <sup>a</sup> 4.75%, 8/01/27 | &nbsp;&nbsp;Germany | &nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 805615 |
|  | <sup>a</sup> 4.80%, 11/13/26 | &nbsp;&nbsp;Germany | &nbsp;&nbsp; 550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 553081 |
|  | <sup>a,b</sup> 1 day USD SOFR + 0.78%, 5.195%, 4/01/27 | &nbsp;&nbsp;Germany | &nbsp;&nbsp; 225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 224946 |
|  | <sup>a</sup> 4.75%, 3/31/28 | &nbsp;&nbsp;Germany | &nbsp;&nbsp; 225000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 226908 |
|  | Toyota Motor Credit Corp., |  |  |  |
|  | <sup>b</sup> 1 day USD SOFR + 0.77%, 5.131%, 8/07/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 440000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 441977 |
|  | <sup>b</sup> 1 day USD SOFR Index + 0.45%, 4.795%, 4/10/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250301 |
|  | Volkswagen Group of America Finance LLC, |  |  |  |
|  | <sup>a,b</sup> 1 day USD SOFR + 0.83%, 5.236%, 3/20/26 | &nbsp;&nbsp;Germany | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 600140 |
|  | <sup>a</sup> 4.90%, 8/14/26 | &nbsp;&nbsp;Germany | &nbsp;&nbsp; 490000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 491071 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9996808 |
|  | **Banks 48.0%** |  |  |  |
|  | ABN AMRO Bank NV, |  |  |  |
|  | <sup>a</sup> 6.339% to 9/18/26, FRN thereafter, 9/18/27 | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 715403 |
|  | <sup>a</sup> 6.575% to 10/13/25, FRN thereafter, 10/13/26 | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 603140 |
|  | <sup>a</sup> 4.988% to 12/03/27, FRN thereafter, 12/03/28 | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 405505 |
|  | <sup>b</sup> 1 day USD SOFR Index + 0.75%, 5.164%, 7/07/28 | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp; 310000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 310000 |
|  | Australia & New Zealand Banking Group Ltd., |  |  |  |
|  | <sup>a,b</sup> 1 day USD SOFR + 0.68%, 5.029%, 7/16/27 | &nbsp;&nbsp;Australia | &nbsp;&nbsp; 445000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 447090 |
|  | <sup>a,b</sup> 1 day USD SOFR + 0.65%, 5.074%, 9/30/27 | &nbsp;&nbsp;Australia | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1003329 |
|  | <sup>a,b</sup> 1 day USD SOFR + 0.62%, 5.033%, 6/18/28 | &nbsp;&nbsp;Australia | &nbsp;&nbsp; 310000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 310361 |
|  | Banco Bilbao Vizcaya Argentaria SA, 5.862% to 9/14/25, FRN thereafter, 9/14/26 | &nbsp;&nbsp;Spain | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1002106 |
|  | Banco Santander SA, |  |  |  |
|  | 6.527% to 11/07/26, FRN thereafter, 11/07/27 | &nbsp;&nbsp;Spain | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 616002 |
|  | 5.552% to 3/14/27, FRN thereafter, 3/14/28 | &nbsp;&nbsp;Spain | &nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 203278 |
|  | <sup>b</sup> 1 day USD SOFR + 1.12%, 5.465%, 7/15/28 | &nbsp;&nbsp;Spain | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 401206 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Bank of America Corp., |  |  |  |
|  | 5.08% to 1/20/26, FRN thereafter, 1/20/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 750000 | &nbsp;&nbsp; 752078 |
|  | <sup>b</sup> Series FRN, 1 day USD SOFR + 0.83%, 5.183%, 1/24/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 475000 | &nbsp;&nbsp; 474587 |
|  | <sup>b</sup> 1 day USD SOFR + 1.11%, 5.472%, 5/09/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 402765 |
| <sup>a</sup> | Bank of Ireland Group PLC, 6.253% to 9/16/25, FRN thereafter, 9/16/26 | &nbsp;&nbsp;Ireland | &nbsp;&nbsp; 840000 | &nbsp;&nbsp; 842760 |
|  | Bank of Montreal, |  |  |  |
|  | <sup>b</sup> 1 day USD SOFR Index + 0.88%, 5.274%, 9/10/27 | &nbsp;&nbsp;Canada | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 501590 |
|  | <sup>b</sup> 1 day USD SOFR + 0.86%, 5.215%, 1/27/29 | &nbsp;&nbsp;Canada | &nbsp;&nbsp; 850000 | &nbsp;&nbsp; 845621 |
|  | Bank of New York Mellon, 4.587% to 4/20/26, FRN thereafter, 4/20/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250615 |
|  | Bank of New York Mellon Corp., |  |  |  |
|  | <sup>b</sup> 1 day USD SOFR Index + 0.83%, 5.179%, 7/21/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 160672 |
|  | <sup>b</sup> 1 day USD SOFR Index + 0.68%, 5.072%, 6/09/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 310000 | &nbsp;&nbsp; 310425 |
|  | 4.441% to 6/09/27, FRN thereafter, 6/09/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 185000 | &nbsp;&nbsp; 186047 |
|  | Bank of Nova Scotia, |  |  |  |
|  | 4.50%, 12/16/25 | &nbsp;&nbsp;Canada | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 199884 |
|  | 5.35%, 12/07/26 | &nbsp;&nbsp;Canada | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 507278 |
|  | <sup>b</sup> 1 day USD SOFR Index + 0.78%, 5.169%, 6/04/27 | &nbsp;&nbsp;Canada | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 501375 |
|  | <sup>b</sup> 1 day USD SOFR + 0.89%, 5.258%, 2/14/29 | &nbsp;&nbsp;Canada | &nbsp;&nbsp; 675000 | &nbsp;&nbsp; 673105 |
|  | Banque Federative du Credit Mutuel SA, |  |  |  |
|  | <sup>a</sup> 5.896%, 7/13/26 | &nbsp;&nbsp;France | &nbsp;&nbsp; 940000 | &nbsp;&nbsp; 954459 |
|  | <sup>a,b</sup> 1 day USD SOFR Index + 1.07%, 5.44%, 2/16/28 | &nbsp;&nbsp;France | &nbsp;&nbsp; 550000 | &nbsp;&nbsp; 552792 |
|  | Barclays PLC, |  |  |  |
|  | 4.375%, 1/12/26 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp; 503000 | &nbsp;&nbsp; 502683 |
|  | 6.496% to 9/13/26, FRN thereafter, 9/13/27 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp; 565000 | &nbsp;&nbsp; 577663 |
|  | 5.829% to 5/09/26, FRN thereafter, 5/09/27 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 505172 |
|  | <sup>b</sup> 1 day USD SOFR + 1.49%, 5.887%, 3/12/28 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 201610 |
|  | BNP Paribas SA, |  |  |  |
|  | <sup>a</sup> 3.50%, 11/16/27 | &nbsp;&nbsp;France | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 195690 |
|  | <sup>a,b</sup> 1 day USD SOFR + 1.43%, 5.842%, 5/09/29 | &nbsp;&nbsp;France | &nbsp;&nbsp; 740000 | &nbsp;&nbsp; 747566 |
|  | BPCE SA, |  |  |  |
|  | <sup>a</sup> 1.652% to 10/06/25, FRN thereafter, 10/06/26 | &nbsp;&nbsp;France | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 694346 |
|  | <sup>a</sup> 5.975% to 1/18/26, FRN thereafter, 1/18/27 | &nbsp;&nbsp;France | &nbsp;&nbsp; 590000 | &nbsp;&nbsp; 594075 |
|  | <sup>a</sup> 3.50%, 10/23/27 | &nbsp;&nbsp;France | &nbsp;&nbsp; 350000 | &nbsp;&nbsp; 342670 |
|  | CaixaBank SA, |  |  |  |
|  | <sup>a</sup> 6.684% to 9/13/26, FRN thereafter, 9/13/27 | &nbsp;&nbsp;Spain | &nbsp;&nbsp;1000000 | &nbsp;&nbsp; 1024346 |
|  | <sup>a,c</sup> 4.634% to 7/03/28, FRN thereafter, 7/03/29 | &nbsp;&nbsp;Spain | &nbsp;&nbsp; 240000 | &nbsp;&nbsp; 240651 |
|  | Canadian Imperial Bank of Commerce, |  |  |  |
|  | 5.926%, 10/02/26 | &nbsp;&nbsp;Canada | &nbsp;&nbsp; 383000 | &nbsp;&nbsp; 390611 |
|  | <sup>b</sup> 1 day USD SOFR + 0.94%, 5.354%, 6/28/27 | &nbsp;&nbsp;Canada | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 602965 |
|  | <sup>b</sup> 1 day USD SOFR Index + 0.93%, 5.326%, 9/11/27 | &nbsp;&nbsp;Canada | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 602354 |
|  | <sup>b</sup> 1 day USD SOFR + 1.03%, 5.444%, 3/30/29 | &nbsp;&nbsp;Canada | &nbsp;&nbsp; 360000 | &nbsp;&nbsp; 360601 |
|  | Citibank NA, 4.876% to 11/19/26, FRN thereafter, 11/19/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;445000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;447828 |
|  | Citigroup, Inc., |  |  |  |
|  | <sup>b</sup> 1 day USD SOFR + 0.77%, 5.162%, 6/09/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500527 |
|  | 5.61% to 9/29/25, FRN thereafter, 9/29/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 55000 | &nbsp;&nbsp; 55126 |
|  | <sup>b</sup> 1 day USD SOFR + 0.87%, 5.261%, 3/04/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 699191 |
|  | <sup>b</sup> 1 day USD SOFR + 1.14%, 5.505%, 5/07/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 226169 |
|  | Commonwealth Bank of Australia, |  |  |  |
|  | <sup>a</sup> 4.50%, 12/09/25 | &nbsp;&nbsp;Australia | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 499103 |
|  | <sup>a,b</sup> 1 day USD SOFR + 0.46%, 4.847%, 11/27/26 | &nbsp;&nbsp;Australia | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500863 |
|  | <sup>a,b</sup> 1 day USD SOFR + 0.64%, 5.048%, 3/14/28 | &nbsp;&nbsp;Australia | &nbsp;&nbsp; 825000 | &nbsp;&nbsp; 827913 |
|  | Cooperatieve Rabobank UA, |  |  |  |
|  | <sup>a</sup> 3.649% to 4/06/27, FRN thereafter, 4/06/28 | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 246850 |
|  | 4.375%, 8/04/25 | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp; 800000 | &nbsp;&nbsp; 799629 |
|  | 4.883%, 1/21/28 | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp; 795000 | &nbsp;&nbsp; 812070 |
|  | <sup>b</sup> 1 day USD SOFR + 0.59%, 4.971%, 5/27/27 | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250532 |
|  | Credit Agricole SA, |  |  |  |
|  | <sup>a</sup> 5.589%, 7/05/26 | &nbsp;&nbsp;France | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 506081 |
|  | <sup>a,b</sup> 1 day USD SOFR + 0.87%, 5.266%, 3/11/27 | &nbsp;&nbsp;France | &nbsp;&nbsp; 356000 | &nbsp;&nbsp; 356688 |
|  | <sup>a,b</sup> 1 day USD SOFR + 1.21%, 5.606%, 9/11/28 | &nbsp;&nbsp;France | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 503039 |
|  | Danske Bank AS, |  |  |  |
|  | <sup>a</sup> 4.298% to 4/01/27, FRN thereafter, 4/01/28 | &nbsp;&nbsp;Denmark | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 398699 |
|  | <sup>a</sup> 6.259% to 9/22/25, FRN thereafter, 9/22/26 | &nbsp;&nbsp;Denmark | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 401250 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Deutsche Bank AG, |  |  |  |
|  | 2.129% to 11/24/25, FRN thereafter, 11/24/26 | &nbsp;&nbsp;Germany | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 494984 |
|  | 6.119% to 7/14/25, FRN thereafter, 7/14/26 | &nbsp;&nbsp;Germany | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 600258 |
|  | 7.146% to 7/13/26, FRN thereafter, 7/13/27 | &nbsp;&nbsp;Germany | &nbsp;&nbsp; 643000 | &nbsp;&nbsp; 659369 |
| <sup>a</sup> | DNB Bank ASA, 5.896% to 10/09/25, FRN thereafter, 10/09/26 | &nbsp;&nbsp;Norway | &nbsp;&nbsp; 945000 | &nbsp;&nbsp; 948539 |
|  | Fifth Third Bank NA, |  |  |  |
|  | 4.967% to 1/28/27, FRN thereafter, 1/28/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 251907 |
|  | <sup>b</sup> 1 day USD SOFR + 0.81%, 5.165%, 1/28/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250004 |
|  | Goldman Sachs Bank USA, |  |  |  |
|  | <sup>b</sup> 1 day USD SOFR + 0.77%, 5.175%, 3/18/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 601602 |
|  | <sup>b</sup> 1 day USD SOFR + 0.75%, 5.125%, 5/21/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 501544 |
|  | Goldman Sachs Group, Inc., |  |  |  |
|  | 5.798% to 8/10/25, FRN thereafter, 8/10/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 400566 |
|  | <sup>b</sup> 1 day USD SOFR + 1.29%, 5.642%, 4/23/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 226444 |
| <sup>b</sup> | Huntington National Bank, 1 day USD SOFR + 0.72%, 5.065%, 4/12/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;765000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;764688 |
|  | ING Groep NV, |  |  |  |
|  | <sup>b</sup> 1 day USD SOFR Index + 1.56%, 5.956%, 9/11/27 | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp;1000000 | &nbsp;&nbsp; 1012497 |
|  | <sup>b</sup> 1 day USD SOFR Index + 1.01%, 5.422%, 3/25/29 | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp; 575000 | &nbsp;&nbsp; 575597 |
| <sup>a</sup> | Intesa Sanpaolo SpA, 7.00%, 11/21/25 | &nbsp;&nbsp;Italy | &nbsp;&nbsp;&nbsp;&nbsp;505000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;509022 |
|  | JPMorgan Chase & Co., |  |  |  |
|  | <sup>b</sup> 1 day USD SOFR + 0.89%, 5.235%, 4/22/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250737 |
|  | 4.505% to 10/22/27, FRN thereafter, 10/22/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 745000 | &nbsp;&nbsp; 747372 |
|  | <sup>b</sup> 1 day USD SOFR + 0.86%, 5.21%, 10/22/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 560000 | &nbsp;&nbsp; 561939 |
|  | <sup>b</sup> 1 day USD SOFR + 0.92%, 5.27%, 4/22/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 501535 |
|  | KeyBank NA, 4.15%, 8/08/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;430000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;429691 |
|  | KeyCorp, 4.15%, 10/29/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;205000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204555 |
|  | Lloyds Banking Group PLC, |  |  |  |
|  | 4.716% to 8/11/25, FRN thereafter, 8/11/26 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp; 445000 | &nbsp;&nbsp; 444828 |
|  | 5.087% to 11/26/27, FRN thereafter, 11/26/28 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 202685 |
|  | <sup>b</sup> 1 day USD SOFR Index + 1.56%, 5.92%, 8/07/27 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;1000000 | &nbsp;&nbsp; 1007927 |
|  | <sup>b</sup> 1 day USD SOFR + 1.06%, 5.454%, 6/13/29 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200140 |
|  | 4.818% to 6/13/28, FRN thereafter, 6/13/29 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 201840 |
| <sup>a,b</sup> | Macquarie Bank Ltd., 1 day USD SOFR + 0.74%, 5.146%, 6/12/28 | &nbsp;&nbsp;Australia | &nbsp;&nbsp;&nbsp;&nbsp;490000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;490891 |
| <sup>a</sup> | Macquarie Group Ltd., 5.108% to 8/09/25, FRN thereafter, 8/09/26 | &nbsp;&nbsp;Australia | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1000382 |
|  | Mitsubishi UFJ Financial Group, Inc., 5.017% to 7/20/27, FRN thereafter, 7/20/28 | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;658556 |
| <sup>a</sup> | Mizuho Financial Group, Inc., 4.353%, 10/20/25 | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;279500 |
|  | Morgan Stanley, |  |  |  |
|  | 4.00%, 7/23/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 99907 |
|  | 6.138% to 10/16/25, FRN thereafter, 10/16/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200872 |
|  | <sup>b</sup> 1 day USD SOFR + 1.02%, 5.367%, 4/13/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 680000 | &nbsp;&nbsp; 684054 |
|  | <sup>b</sup> 1 day USD SOFR + 1.38%, 5.726%, 4/12/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 730000 | &nbsp;&nbsp; 738997 |
| <sup>b</sup> | Morgan Stanley Bank NA, 1 day USD SOFR + 0.90%, 5.245%, 1/12/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250580 |
|  | National Australia Bank Ltd., |  |  |  |
|  | <sup>a,b</sup> 1 day USD SOFR + 0.62%, 5.024%, 6/11/27 | &nbsp;&nbsp;Australia | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250929 |
|  | <sup>a,b</sup> 1 day USD SOFR + 0.60%, 4.958%, 10/26/27 | &nbsp;&nbsp;Australia | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250856 |
|  | <sup>a,b</sup> 1 day USD SOFR + 0.65%, 5.057%, 6/13/28 | &nbsp;&nbsp;Australia | &nbsp;&nbsp; 370000 | &nbsp;&nbsp; 370685 |
|  | National Bank of Canada, |  |  |  |
|  | 5.60% to 7/02/26, FRN thereafter, 7/02/27 | &nbsp;&nbsp;Canada | &nbsp;&nbsp; 650000 | &nbsp;&nbsp; 657279 |
|  | 4.702% to 3/05/26, FRN thereafter, 3/05/27 | &nbsp;&nbsp;Canada | &nbsp;&nbsp; 280000 | &nbsp;&nbsp; 280089 |
|  | NatWest Group PLC, |  |  |  |
|  | 7.472% to 11/10/25, FRN thereafter, 11/10/26 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 605970 |
|  | 5.847% to 3/02/26, FRN thereafter, 3/02/27 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp; 740000 | &nbsp;&nbsp; 746614 |
|  | 5.583% to 3/01/27, FRN thereafter, 3/01/28 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 458221 |
|  | <sup>b</sup> 1 day USD SOFR + 1.10%, 5.473%, 5/23/29 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 200151 |
| <sup>a,b</sup> | Nordea Bank Abp, 1 day USD SOFR + 0.70%, 5.102%, 3/17/28 | &nbsp;&nbsp;Finland | &nbsp;&nbsp;&nbsp;&nbsp;605000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;606182 |
|  | PNC Bank NA, 4.775% to 1/15/26, FRN thereafter, 1/15/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250434 |
|  | PNC Financial Services Group, Inc., 4.758% to 1/26/26, FRN thereafter, 1/26/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;930000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;931461 |
|  | Royal Bank of Canada, |  |  |  |
|  | <sup>b</sup> 1 day USD SOFR Index + 1.08%, 5.429%, 7/20/26 | &nbsp;&nbsp;Canada | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 504514 |
|  | <sup>b</sup> 1 day USD SOFR Index + 0.72%, 5.068%, 10/18/27 | &nbsp;&nbsp;Canada | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 600766 |
|  | <sup>b</sup> 1 day USD SOFR Index + 0.83%, 5.183%, 1/24/29 | &nbsp;&nbsp;Canada | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 599216 |
|  | <sup>b</sup> 1 day USD SOFR Index + 0.79%, 5.142%, 7/23/27 | &nbsp;&nbsp;Canada | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 301017 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Santander U.K. Group Holdings PLC, 6.833% to 11/21/25, FRN thereafter, 11/21/26 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 604956 |
|  | Skandinaviska Enskilda Banken AB, |  |  |  |
|  | <sup>a,b</sup> 1 day USD SOFR + 0.89%, 5.28%, 3/05/27 | &nbsp;&nbsp;Sweden | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 402712 |
|  | <sup>a,b</sup> 1 day USD SOFR + 0.75%, 5.137%, 6/02/28 | &nbsp;&nbsp;Sweden | &nbsp;&nbsp; 495000 | &nbsp;&nbsp; 496027 |
|  | Societe Generale SA, |  |  |  |
|  | <sup>a</sup> 4.00%, 1/12/27 | &nbsp;&nbsp;France | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 198295 |
|  | <sup>a</sup> 5.25%, 2/19/27 | &nbsp;&nbsp;France | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 202076 |
|  | State Street Corp., |  |  |  |
|  | <sup>b</sup> 1 day USD SOFR + 0.85%, 5.205%, 8/03/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 395000 | &nbsp;&nbsp; 397615 |
|  | <sup>b</sup> 1 day USD SOFR + 0.64%, 4.99%, 10/22/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 834000 | &nbsp;&nbsp; 833160 |
|  | <sup>b</sup> 1 day USD SOFR + 0.95%, 5.303%, 4/24/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 135000 | &nbsp;&nbsp; 135664 |
|  | Sumitomo Mitsui Financial Group, Inc., |  |  |  |
|  | 5.52%, 1/13/28 | &nbsp;&nbsp;Japan | &nbsp;&nbsp; 935000 | &nbsp;&nbsp; 963082 |
|  | <sup>b</sup> 1 day USD SOFR + 1.30%, 5.646%, 7/13/26 | &nbsp;&nbsp;Japan | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 504924 |
| <sup>a,b</sup> | Sumitomo Mitsui Trust Bank Ltd., 1 day USD SOFR + 0.98%, 5.377%, 9/10/27 | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;685000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;691610 |
|  | Svenska Handelsbanken AB, |  |  |  |
|  | <sup>a,b</sup> 1 day USD SOFR + 0.66%, 5.042%, 5/28/27 | &nbsp;&nbsp;Sweden | &nbsp;&nbsp; 505000 | &nbsp;&nbsp; 506354 |
|  | <sup>a,b</sup> 1 day USD SOFR + 0.74%, 5.117%, 5/23/28 | &nbsp;&nbsp;Sweden | &nbsp;&nbsp; 435000 | &nbsp;&nbsp; 436474 |
| <sup>a</sup> | Swedbank AB, 6.136%, 9/12/26 | &nbsp;&nbsp;Sweden | &nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;286081 |
|  | Toronto-Dominion Bank, |  |  |  |
|  | <sup>b</sup> 1 day USD SOFR + 0.48%, 4.867%, 8/29/25 | &nbsp;&nbsp;Canada | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250145 |
|  | <sup>b</sup> 1 day USD SOFR + 0.62%, 5.022%, 12/17/26 | &nbsp;&nbsp;Canada | &nbsp;&nbsp;1000000 | &nbsp;&nbsp; 1001640 |
|  | <sup>b</sup> 1 day USD SOFR + 0.82%, 5.179%, 1/31/28 | &nbsp;&nbsp;Canada | &nbsp;&nbsp; 670000 | &nbsp;&nbsp; 671234 |
|  | Truist Bank, 4.671% to 5/20/26, FRN thereafter, 5/20/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;620000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;621017 |
|  | Truist Financial Corp., |  |  |  |
|  | 5.90% to 10/28/25, FRN thereafter, 10/28/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 502092 |
|  | 4.26% to 7/28/25, FRN thereafter, 7/28/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 499807 |
|  | 6.047% to 6/08/26, FRN thereafter, 6/08/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 615000 | &nbsp;&nbsp; 623384 |
|  | U.S. Bancorp, 5.727% to 10/21/25, FRN thereafter, 10/21/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;845000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;847883 |
|  | U.S. Bank NA, |  |  |  |
|  | 4.507% to 10/22/26, FRN thereafter, 10/22/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500652 |
|  | 4.73% to 5/14/27, FRN thereafter, 5/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 260000 | &nbsp;&nbsp; 261393 |
|  | <sup>b</sup> 1 day USD SOFR + 0.91%, 5.279%, 5/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 325000 | &nbsp;&nbsp; 325979 |
|  | UBS AG, 4.864% to 1/10/27, FRN thereafter, 1/10/28 | &nbsp;&nbsp;Switzerland | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;504236 |
|  | UBS Group AG, |  |  |  |
|  | <sup>a</sup> 3.869% to 1/12/28, FRN thereafter, 1/12/29 | &nbsp;&nbsp;Switzerland | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 246197 |
|  | <sup>a</sup> 4.282%, 1/09/28 | &nbsp;&nbsp;Switzerland | &nbsp;&nbsp; 312000 | &nbsp;&nbsp; 310686 |
|  | <sup>a</sup> 6.442% to 8/11/27, FRN thereafter, 8/11/28 | &nbsp;&nbsp;Switzerland | &nbsp;&nbsp; 360000 | &nbsp;&nbsp; 374129 |
|  | <sup>a</sup> 6.327% to 12/22/26, FRN thereafter, 12/22/27 | &nbsp;&nbsp;Switzerland | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 205403 |
|  | Wells Fargo & Co., |  |  |  |
|  | 3.196% to 6/17/26, FRN thereafter, 6/17/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 247056 |
|  | 4.54% to 8/15/25, FRN thereafter, 8/15/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 225000 | &nbsp;&nbsp; 224957 |
|  | 5.707% to 4/22/27, FRN thereafter, 4/22/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 306616 |
|  | <sup>b</sup> 1 day USD SOFR + 0.78%, 5.133%, 1/24/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 530000 | &nbsp;&nbsp; 530489 |
|  | <sup>b</sup> 1 day USD SOFR + 1.37%, 5.722%, 4/23/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 630000 | &nbsp;&nbsp; 638190 |
|  | Westpac Banking Corp., |  |  |  |
|  | <sup>b</sup> 1 day USD SOFR + 0.46%, 4.811%, 10/20/26 | &nbsp;&nbsp;Australia | &nbsp;&nbsp;1000000 | &nbsp;&nbsp; 1001961 |
|  | <sup>b</sup> 1 day USD SOFR + 0.72%, 5.096%, 11/17/25 | &nbsp;&nbsp;Australia | &nbsp;&nbsp; 445000 | &nbsp;&nbsp; 445579 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;72116182 |
|  | **Beverages 0.1%** |  |  |  |
|  | PepsiCo, Inc., 4.40%, 2/07/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125910 |
|  | **Biotechnology 0.1%** |  |  |  |
|  | Illumina, Inc., 4.65%, 9/09/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200290 |
|  | **Chemicals 0.4%** |  |  |  |
|  | Sherwin-Williams Co., 4.25%, 8/08/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;603000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;602587 |
|  | **Commercial Services & Supplies 0.2%** |  |  |  |
| <sup>b</sup> | PayPal Holdings, Inc., 1 day USD SOFR + 0.67%, 5.061%, 3/06/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;230000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230211 |
|  | **Construction Materials 0.1%** |  |  |  |
|  | Owens Corning, 5.50%, 6/15/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102189 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Diversified REITs 0.1%** |  |  |  |
|  | Essex Portfolio LP, 3.375%, 4/15/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 79222 |
|  | **Electric 1.9%** |  |  |  |
|  | Dominion Energy, Inc., |  |  |  |
|  | 3.90%, 10/01/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 499128 |
|  | 4.60%, 5/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 161099 |
|  | Duke Energy Corp., 0.90%, 9/15/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 387000 | &nbsp;&nbsp; 383876 |
|  | NextEra Energy Capital Holdings, Inc., |  |  |  |
|  | 3.55%, 5/01/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 98656 |
|  | 5.749%, 9/01/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 600000 | &nbsp;&nbsp; 600905 |
|  | 4.85%, 2/04/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 65000 | &nbsp;&nbsp; 65924 |
|  | <sup>b</sup> 1 day USD SOFR Index + 0.80%, 5.159%, 2/04/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 560000 | &nbsp;&nbsp; 562938 |
| <sup>b</sup> | Pacific Gas & Electric Co., 1 day USD SOFR Index + 0.95%, 5.339%, 9/04/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250006 |
|  | WEC Energy Group, Inc., 5.60%, 9/12/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;220000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222958 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2845490 |
|  | **Electric Utilities 0.1%** |  |  |  |
| <sup>b</sup> | Georgia Power Co., 1 day USD SOFR Index + 0.28%, 4.679%, 9/15/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139832 |
|  | **Electronics 0.3%** |  |  |  |
|  | Amphenol Corp., 4.375%, 6/12/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;435000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;438096 |
|  | **Financial Services 5.1%** |  |  |  |
|  | AerCap Ireland Capital DAC/AerCap Global Aviation Trust, |  |  |  |
|  | 1.75%, 1/30/26 | &nbsp;&nbsp;Ireland | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 442197 |
|  | 2.45%, 10/29/26 | &nbsp;&nbsp;Ireland | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 487287 |
|  | 4.875%, 4/01/28 | &nbsp;&nbsp;Ireland | &nbsp;&nbsp; 445000 | &nbsp;&nbsp; 449598 |
|  | Air Lease Corp., |  |  |  |
|  | 2.875%, 1/15/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 605000 | &nbsp;&nbsp; 598916 |
|  | 5.30%, 6/25/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 503424 |
|  | American Express Co., |  |  |  |
|  | 3.95%, 8/01/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100000 |
|  | <sup>b</sup> 1 day USD SOFR Index + 1.00%, 5.37%, 2/16/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;1000000 | &nbsp;&nbsp; 1005101 |
|  | <sup>b</sup> 1 day USD SOFR + 1.26%, 5.614%, 4/25/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 795000 | &nbsp;&nbsp; 802551 |
|  | Capital One Financial Corp., |  |  |  |
|  | 4.985% to 7/24/25, FRN thereafter, 7/24/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 249992 |
|  | 3.75%, 3/09/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 855000 | &nbsp;&nbsp; 848122 |
|  | 4.20%, 10/29/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 475000 | &nbsp;&nbsp; 474360 |
| <sup>b</sup> | Charles Schwab Corp., 1 day USD SOFR Index + 0.52%, 4.886%, 5/13/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100031 |
|  | Jefferies Financial Group, Inc., |  |  |  |
|  | 5.00%, 2/10/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 915000 | &nbsp;&nbsp; 915107 |
|  | 5.03%, 3/16/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 450000 | &nbsp;&nbsp; 450851 |
| <sup>a,b</sup> | Mizuho Markets Cayman LP, 1 day USD SOFR + 0.50%, 4.914%, 5/01/26 | &nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;270000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270324 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7697861 |
|  | **Food 0.8%** |  |  |  |
|  | Campbell's Co., 5.30%, 3/20/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;401961 |
| <sup>a</sup> | Mars, Inc., 4.45%, 3/01/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;425000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;426656 |
|  | Mondelez International, Inc., 4.25%, 5/06/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;355000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;355634 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1184251 |
|  | **Forest Products & Paper 0.1%** |  |  |  |
| <sup>a</sup> | Georgia-Pacific LLC, 4.40%, 6/30/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110580 |
|  | **Gas 0.3%** |  |  |  |
|  | NiSource, Inc., 0.95%, 8/15/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;497702 |
|  | **Healthcare-Products 0.5%** |  |  |  |
|  | GE HealthCare Technologies, Inc., 5.60%, 11/15/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;795000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;796732 |
|  | **Home Builders 0.4%** |  |  |  |
|  | Lennar Corp., 5.25%, 6/01/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;625000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;626338 |
|  | **Insurance 3.9%** |  |  |  |
| <sup>a</sup> | AEGON Funding Co. LLC, 5.50%, 4/16/27 | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;506277 |
|  | Arthur J Gallagher & Co., 4.60%, 12/15/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;665000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;670244 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Athene Global Funding, |  |  |  |
|  | <sup>a</sup> 5.349%, 7/09/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 420000 | &nbsp;&nbsp; 426666 |
|  | <sup>a</sup> 4.86%, 8/27/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 502257 |
|  | <sup>a</sup> 4.95%, 1/07/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 561000 | &nbsp;&nbsp; 564927 |
|  | <sup>a,b</sup> 1 day USD SOFR Index + 0.95%, 5.341%, 3/06/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 400000 | &nbsp;&nbsp; 399959 |
|  | Brown & Brown, Inc., 4.60%, 12/23/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 185000 | &nbsp;&nbsp; 185931 |
| <sup>a,b</sup> | Corebridge Global Funding, 1 day USD SOFR + 1.30%, 5.712%, 9/25/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 503494 |
| <sup>a</sup> | Equitable Financial Life Global Funding, 1.40%, 7/07/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 99946 |
| <sup>b</sup> | Marsh & McLennan Cos., Inc., 1 day USD SOFR Index + 0.70%, 5.061%, 11/08/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100265 |
| <sup>a,b</sup> | MassMutual Global Funding II, 1 day USD SOFR + 0.74%, 5.085%, 4/09/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100488 |
|  | Metropolitan Life Global Funding I, |  |  |  |
|  | <sup>a</sup> 4.05%, 8/25/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 299740 |
|  | <sup>a,b</sup> 1 day USD SOFR Index + 0.70%, 5.096%, 6/11/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 280000 | &nbsp;&nbsp; 280358 |
| <sup>a,b</sup> | New York Life Global Funding, 1 day USD SOFR + 0.88%, 5.234%, 4/25/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;625000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;630693 |
|  | Protective Life Global Funding, |  |  |  |
|  | <sup>a,b</sup> 1 day USD SOFR + 0.70%, 5.045%, 4/10/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 300822 |
|  | <sup>a</sup> 4.335%, 9/13/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 210000 | &nbsp;&nbsp; 210091 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5782158 |
|  | **Internet 0.1%** |  |  |  |
|  | Meta Platforms, Inc., 3.50%, 8/15/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67363 |
|  | Netflix, Inc., 5.875%, 11/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158159 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;225522 |
|  | **IT Services 0.4%** |  |  |  |
|  | Hewlett Packard Enterprise Co., 4.90%, 10/15/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;615000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;615031 |
|  | **Lodging 0.6%** |  |  |  |
|  | Hyatt Hotels Corp., |  |  |  |
|  | 4.85%, 3/15/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 298000 | &nbsp;&nbsp; 298136 |
|  | 5.75%, 1/30/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 550000 | &nbsp;&nbsp; 561534 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;859670 |
|  | **Machinery-Construction & Mining 0.4%** |  |  |  |
| <sup>b</sup> | Caterpillar Financial Services Corp., 1 day USD SOFR + 0.56%, 4.929%, 11/15/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600211 |
|  | **Machinery-Diversified 0.9%** |  |  |  |
|  | John Deere Capital Corp., |  |  |  |
|  | 4.90%, 6/11/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 508476 |
|  | <sup>b</sup> 1 day USD SOFR + 0.50%, 4.891%, 3/06/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 820000 | &nbsp;&nbsp; 819298 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1327774 |
|  | **Mining 0.5%** |  |  |  |
|  | Glencore Funding LLC, |  |  |  |
|  | <sup>a</sup> 1.625%, 9/01/25 | &nbsp;&nbsp;Australia | &nbsp;&nbsp; 235000 | &nbsp;&nbsp; 233795 |
|  | <sup>a,b</sup> 1 day USD SOFR Index + 0.75%, 5.165%, 10/01/26 | &nbsp;&nbsp;Australia | &nbsp;&nbsp; 405000 | &nbsp;&nbsp; 405035 |
| <sup>b</sup> | Rio Tinto Finance USA PLC, 1 day USD SOFR Index + 0.84%, 5.239%, 3/14/28 | &nbsp;&nbsp;Australia | &nbsp;&nbsp;&nbsp;&nbsp;140000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140808 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;779638 |
|  | **Miscellaneous Manufacturing 0.1%** |  |  |  |
| <sup>a,b</sup> | Siemens Funding BV, 1 day USD SOFR + 0.64%, 5.02%, 5/26/28 | &nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200433 |
|  | **Oil & Gas 0.5%** |  |  |  |
| <sup>b</sup> | Chevron USA, Inc., 1 day USD SOFR Index + 0.47%, 4.849%, 2/26/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;185000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185862 |
|  | Devon Energy Corp., 5.85%, 12/15/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;601637 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;787499 |
|  | **Personal Care Products 0.1%** |  |  |  |
|  | Kenvue, Inc., 5.35%, 3/22/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201246 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Pharmaceuticals 0.6%** |  |  |  |
|  | CVS Health Corp., |  |  |  |
|  | 3.875%, 7/20/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 370000 | &nbsp;&nbsp; 369722 |
|  | 5.00%, 2/20/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 500000 | &nbsp;&nbsp; 500725 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;870447 |
|  | **Pipelines 0.8%** |  |  |  |
|  | Energy Transfer LP, 4.75%, 1/15/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 250036 |
|  | ONEOK, Inc., 5.55%, 11/01/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 300000 | &nbsp;&nbsp; 304209 |
|  | Plains All American Pipeline LP/PAA Finance Corp., 4.65%, 10/15/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 699878 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1254123 |
|  | **Real Estate Investment Trusts (REITs) 1.5%** |  |  |  |
|  | Boston Properties LP, 3.65%, 2/01/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;570000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;566392 |
|  | Camden Property Trust, 5.85%, 11/03/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;510183 |
| <sup>b</sup> | Public Storage Operating Co., 1 day USD SOFR Index + 0.70%, 5.047%, 4/16/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501930 |
|  | Realty Income Corp., |  |  |  |
|  | 0.75%, 3/15/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 243540 |
|  | 4.875%, 6/01/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 495000 | &nbsp;&nbsp; 496362 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2318407 |
|  | **Real Estate Management & Development 0.2%** |  |  |  |
|  | American Tower Corp., 3.375%, 10/15/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345653 |
|  | **Retail 0.6%** |  |  |  |
|  | Starbucks Corp., 4.75%, 2/15/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300245 |
|  | Target Corp., 4.35%, 6/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;257000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258605 |
| <sup>b</sup> | Walmart, Inc., 1 day USD SOFR Index + 0.43%, 4.785%, 4/28/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301013 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;859863 |
|  | **Savings & Loans 0.9%** |  |  |  |
|  | Nationwide Building Society, |  |  |  |
|  | <sup>a</sup> 6.557% to 10/18/26, FRN thereafter, 10/18/27 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp; 535000 | &nbsp;&nbsp; 548641 |
|  | <sup>a,b</sup> 1 day USD SOFR + 1.29%, 5.66%, 2/16/28 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp; 845000 | &nbsp;&nbsp; 849974 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1398615 |
|  | **Semiconductors 0.5%** |  |  |  |
|  | Broadcom, Inc., |  |  |  |
|  | 5.05%, 7/12/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 440000 | &nbsp;&nbsp; 446461 |
|  | 4.80%, 4/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 335000 | &nbsp;&nbsp; 339923 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;786384 |
|  | **Software 0.5%** |  |  |  |
|  | Oracle Corp., |  |  |  |
|  | 1.65%, 3/25/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 235000 | &nbsp;&nbsp; 230232 |
|  | <sup>b</sup> 1 day USD SOFR + 0.76%, 5.12%, 8/03/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 485000 | &nbsp;&nbsp; 487310 |
|  | Synopsys, Inc., 4.55%, 4/01/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65354 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;782896 |
|  | **Telecommunications 0.3%** |  |  |  |
|  | Rogers Communications, Inc., 3.625%, 12/15/25 | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;298694 |
|  | Sprint LLC, 7.625%, 3/01/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90871 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;389565 |
|  | **Trucking & Leasing 0.2%** |  |  |  |
|  | AerCap Ireland Capital DAC/AerCap Global Aviation Trust, 3.00%, 10/29/28 | &nbsp;&nbsp;Ireland | &nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142948 |
| <sup>a</sup> | Penske Truck Leasing Co. LP/PTL Finance Corp., 4.00%, 7/15/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99978 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242926 |
|  | **Total Corporate Bonds & Notes (Cost $120,760,522)** |  |  | &nbsp;&nbsp;121086853 |
|  | **Total Investments before Short-Term Investments (Cost $120,760,522)** |  |  | &nbsp;&nbsp;121086853 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Short-Term Investments 18.9%** |  |  |  |
|  | **Commercial Paper 18.5%** |  |  |  |
| <sup>a</sup> | AES Corp., 4.816%, 7/01/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 263000 | &nbsp;&nbsp; 262965 |
| <sup>a</sup> | Agree LP, 4.634%, 7/01/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 792000 | &nbsp;&nbsp; 791895 |
| <sup>a</sup> | Air Lease Corp., 5.03%, 7/07/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 250000 | &nbsp;&nbsp; 249772 |
| <sup>a</sup> | Alexandria Real Estate Equities, Inc., 4.727%, 7/11/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 501000 | &nbsp;&nbsp; 500302 |
| <sup>a</sup> | Alexandria Real Estate Equities, Inc., 4.727%, 7/18/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 416000 | &nbsp;&nbsp; 415051 |
| <sup>a</sup> | Alimentation Couche-Tard, Inc., 4.708%, 7/09/25 | &nbsp;&nbsp;Canada | &nbsp;&nbsp; 485000 | &nbsp;&nbsp; 484435 |
| <sup>a</sup> | Alimentation Couche-Tard, Inc., 4.654%, 7/18/25 | &nbsp;&nbsp;Canada | &nbsp;&nbsp; 433000 | &nbsp;&nbsp; 431985 |
| <sup>a</sup> | Alimentation Couche-Tard, Inc., 4.705%, 7/29/25 | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;308000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;306837 |
| <sup>a</sup> | AvalonBay Communities, Inc., 4.652%, 7/08/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249745 |
| <sup>a</sup> | AvalonBay Communities, Inc., 4.701%, 7/10/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;485000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;484381 |
| <sup>a</sup> | Aviation Capital Group LLC, 4.695%, 7/01/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;717000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;716910 |
| <sup>a</sup> | Bell Telephone Co. of Canada or Bell Canada, 4.623%, 7/02/25 | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;327000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326919 |
| <sup>a</sup> | Bell Telephone Co. of Canada or Bell Canada, 4.658%, 7/02/25 | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;562000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;561861 |
| <sup>a</sup> | Bell Telephone Co. of Canada or Bell Canada, 4.67%, 7/03/25 | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;377000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;376861 |
| <sup>a</sup> | Boston Properties LP, 4.814%, 7/07/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;399637 |
| <sup>a</sup> | Boston Properties LP, 4.752%, 7/02/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499872 |
| <sup>a</sup> | Broadcom, Inc., 4.745%, 7/22/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299148 |
| <sup>a</sup> | Broadcom, Inc., 4.661%, 7/24/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249226 |
| <sup>a</sup> | Charles Schwab Corp., 4.67%, 11/14/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;365000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358991 |
| <sup>a</sup> | Conagra Brands, Inc., 4.715%, 7/01/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;680000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;679912 |
| <sup>a</sup> | CRH America Finance, Inc., 4.703%, 7/14/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;465000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;464168 |
| <sup>a</sup> | Crown Castle, Inc., 5.013%, 7/01/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;265000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264964 |
| <sup>a</sup> | CVS Health Corp., 4.867%, 7/01/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;478000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;477936 |
| <sup>a</sup> | CVS Health Corp., 4.96%, 7/08/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;269000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268710 |
| <sup>a</sup> | Duke Energy Corp., 4.637%, 7/01/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;465000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;464942 |
| <sup>a</sup> | Duke Energy Corp., 4.669%, 7/22/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;482000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;480654 |
| <sup>a</sup> | Enbridge U.S., Inc., 4.645%, 7/14/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;399285 |
| <sup>a</sup> | Energy Transfer LP, 4.614%, 7/01/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;491000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;490938 |
| <sup>a</sup> | Essex Portfolio LP, 4.685%, 7/01/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249968 |
| <sup>a</sup> | Essex Portfolio LP, 4.673%, 7/02/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249937 |
| <sup>a</sup> | Essex Portfolio LP, 4.735%, 7/07/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249777 |
| <sup>a</sup> | Essex Portfolio LP, 4.642%, 7/08/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249746 |
| <sup>a</sup> | Fidelity National Information Services, Inc., 4.697%, 7/17/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;576000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;574745 |
| <sup>a</sup> | Fidelity National Information Services, Inc., 4.699%, 7/18/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;601000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;599612 |
| <sup>a</sup> | FMC Corp., 5.172%, 7/01/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;455000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;454935 |
| <sup>a</sup> | General Motors Financial Co., Inc., 4.791%, 8/06/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;497605 |
| <sup>a</sup> | Intercontinental Exchange, Inc., 4.68%, 7/09/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249713 |
|  | Intesa Sanpaolo Funding LLC, 4.845%, 8/18/25 | &nbsp;&nbsp;Italy | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;496758 |
| <sup>a</sup> | JBS USA Holding Lux SARL/JBS USA Food Co./JBS Lux Co. SARL, 4.999%, 7/01/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;327000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326956 |
| <sup>a</sup> | JBS USA Holding Lux SARL/JBS USA Food Co./JBS Lux Co. SARL, 5.044%, 7/03/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;364000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;363851 |
| <sup>a</sup> | Marriott International, Inc., 4.701%, 7/21/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;408000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;406876 |
| <sup>a</sup> | Marriott International, Inc., 4.683%, 8/05/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348392 |
| <sup>a</sup> | Marriott International, Inc., 4.663%, 8/15/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;280000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278357 |
| <sup>a</sup> | Mid-America Apartments LP, 4.697%, 7/02/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;259934 |
| <sup>a</sup> | Mid-America Apartments LP, 4.656%, 7/03/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;259000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258901 |
| <sup>a</sup> | Mid-America Apartments LP, 4.697%, 7/08/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249745 |
| <sup>a</sup> | Mid-America Apartments LP, 4.697%, 7/11/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;415000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;414417 |
| <sup>a</sup> | National Grid North America, Inc., 4.874%, 7/29/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249074 |
| <sup>a</sup> | ONEOK, Inc., 4.676%, 7/07/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;259000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;258766 |
| <sup>a</sup> | ONEOK, Inc., 4.651%, 7/10/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;360000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;359532 |
| <sup>a</sup> | ONEOK, Inc., 4.678%, 7/11/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;325000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;324534 |
| <sup>a</sup> | O'Reilly Automotive, Inc., 4.71%, 7/07/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;260000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;259766 |
| <sup>a</sup> | O'Reilly Automotive, Inc., 4.711%, 7/07/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;257000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256769 |
| <sup>a</sup> | Owens Corning, 4.63%, 7/09/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;295000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294661 |
|  | Penske Truck Leasing Co. LP, 4.694%, 7/11/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299569 |
|  | Penske Truck Leasing Co. LP, 4.695%, 7/11/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;499282 |
|  | Penske Truck Leasing Co. LP, 4.712%, 7/09/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;349000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;348592 |
|  | Penske Truck Leasing Co. LP, 4.681%, 7/14/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;353000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;352352 |
| <sup>a</sup> | Plains All American Pipeline LP, 4.648%, 7/02/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249937 |
| <sup>a</sup> | Plains All American Pipeline LP, 4.648%, 7/07/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;336000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;335701 |
| <sup>a</sup> | Protective Life Corp., 4.667%, 7/01/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;325000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;324958 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| <sup>a</sup> | RTX Corp., 4.719%, 7/15/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 434000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 433161 |
| <sup>a</sup> | RTX Corp., 4.714%, 7/18/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 327000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 326240 |
| <sup>a</sup> | Sherwin-Williams Co., 4.704%, 7/28/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 249139 |
| <sup>a</sup> | Sherwin-Williams Co., 4.706%, 7/28/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 370000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 368726 |
| <sup>a</sup> | Sherwin-Williams Co., 4.643%, 7/23/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 249292 |
| <sup>a</sup> | Targa Resources Corp., 4.594%, 7/01/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 898000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 897879 |
| <sup>a</sup> | UDR, Inc., 4.691%, 7/11/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 360000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 359495 |
| <sup>a</sup> | UDR, Inc., 4.681%, 7/23/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 725000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 722861 |
| <sup>a</sup> | Vulcan Materials Co., 4.712%, 7/10/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 481000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 480385 |
| <sup>a</sup> | Vulcan Materials Co., 4.645%, 7/15/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249520 |
| <sup>a</sup> | Vulcan Materials Co., 4.676%, 7/15/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;322000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321381 |
|  | **Total Commercial Paper (Cost $27,813,490)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27810099 |
|  |  |  | &nbsp;&nbsp;**Shares** |  |
|  | **Money Market Funds 0.0%<sup>†</sup>** |  |  |  |
|  | **United States 0.0%<sup>†</sup>** |  |  |  |
| <sup>d,e</sup> | Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 |
|  | **Certificate of Deposit 0.4%** |  |  |  |
|  | Intesa Sanpaolo SpA, 5.05%, 1/13/26 | &nbsp;&nbsp;Italy | &nbsp;&nbsp;&nbsp;&nbsp;500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500683 |
|  | **Total Short-Term Investments (Cost $28,315,511)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28312803 |
|  | **Total Investments (Cost $149,076,033) 99.5%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149399656 |
|  | **Other Assets, less Liabilities 0.5%** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;734710 |
|  | **Net Assets 100.0%** |  |  | &nbsp;&nbsp;$150134366 |

---

---

| |
|:---|
| <sup>†</sup>Rounds to less than 0.1% of net assets. |
| \*The principal amount is stated in U.S. dollars unless otherwise indicated. |
| <sup>a</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional buyers or in a public offering registered under the Securities Act of 1933. At June 30, 2025, the aggregate value of these securities was $63,997,906, representing 42.6% of net assets. |
| <sup>b</sup>Variable rate security. The rate shown represents the yield at period end. |
| <sup>c</sup>Security purchased on a when-issued basis. |
| <sup>d</sup>The rate shown is the annualized seven-day effective yield at period end. |
| <sup>e</sup>See Note 3 regarding investments in affiliated management investment companies. |

---

#### Abbreviations

---

| | |
|:---|:---|
| **Selected Portfolio** |  |
| **FRN** | Floating Rate Note |
| **SOFR** | Secured Overnight Financing Rate |
| **SPA** | Standby Purchase Agreement |

---

------

### FRANKLIN TEMPLETON ETF TRUST

### Schedule of Investments, June 30, 2025 (unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Western Asset Bond ETF** | &nbsp;&nbsp;**Country** | &nbsp;&nbsp;**Principal Amount\*** | &nbsp;&nbsp;**Value** |
|  | **Corporate Bonds & Notes 37.8%** |  |  |  |
|  | **Aerospace & Defense 1.1%** |  |  |  |
|  | Boeing Co., |  |  |  |
|  | 3.25%, 2/01/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp;$8428 |
|  | 2.70%, 2/01/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19446 |
|  | 5.15%, 5/01/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10186 |
| <sup>a</sup> | Bombardier, Inc., 6.75%, 6/15/33 | &nbsp;&nbsp;Canada | &nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10375 |
|  | General Dynamics Corp., 4.25%, 4/01/40 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8989 |
|  | L3Harris Technologies, Inc., 4.854%, 4/27/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9791 |
|  | Lockheed Martin Corp., |  |  |  |
|  | 4.50%, 5/15/36 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9629 |
|  | 4.15%, 6/15/53 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23830 |
|  | Northrop Grumman Corp., |  |  |  |
|  | 5.25%, 5/01/50 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9393 |
|  | 3.25%, 1/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19547 |
|  | RTX Corp., |  |  |  |
|  | 4.50%, 6/01/42 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17716 |
|  | 2.25%, 7/01/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18084 |
|  | 3.95%, 8/16/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9988 |
|  | 6.00%, 3/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10749 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186151 |
|  | **Agriculture 0.7%** |  |  |  |
|  | Altria Group, Inc., |  |  |  |
|  | 3.875%, 9/16/46 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7402 |
|  | 5.80%, 2/14/39 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20277 |
|  | 6.875%, 11/01/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33521 |
|  | BAT Capital Corp., |  |  |  |
|  | 3.557%, 8/15/27 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9843 |
|  | 4.54%, 8/15/47 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp; 30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24255 |
|  | Philip Morris International, Inc., 2.10%, 5/01/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18026 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113324 |
|  | **Airlines 0.8%** |  |  |  |
| <sup>a</sup> | American Airlines, Inc., 8.50%, 5/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62950 |
|  | Delta Air Lines, Inc., 7.375%, 1/15/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40587 |
| <sup>a</sup> | Delta Air Lines, Inc./SkyMiles IP Ltd., first lien, 4.50%, 10/20/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4435 |
| <sup>a</sup> | Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets Ltd., 6.50%, 6/20/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12023 |
| <sup>a</sup> | Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd., 11.00%, 3/12/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18099 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138094 |
|  | **Apparel 0.1%** |  |  |  |
|  | NIKE, Inc., |  |  |  |
|  | 2.85%, 3/27/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9425 |
|  | 2.75%, 3/27/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9788 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19213 |
|  | **Auto Manufacturers 0.3%** |  |  |  |
|  | Ford Motor Co., 3.25%, 2/12/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8435 |
|  | General Motors Co., |  |  |  |
|  | 6.125%, 10/01/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 12000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12022 |
|  | 6.25%, 10/02/43 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9817 |
| <sup>a</sup> | PM General Purchaser LLC, 9.50%, 10/01/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20833 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51107 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| **Banks 7.2%** |  |  |  |
| Bank of America Corp., |  |  |  |
| 4.083% to 3/20/50, FRN thereafter, 3/20/51 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 31792 |
| 3.97% to 3/05/28, FRN thereafter, 3/05/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 69235 |
| 5.00%, 1/21/44 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9456 |
| 4.571% to 4/27/32, FRN thereafter, 4/27/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 78748 |
| Bank of Nova Scotia, 4.588% to 2/04/32, FRN thereafter, 5/04/37 | &nbsp;&nbsp;Canada | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9469 |
| Citigroup, Inc., |  |  |  |
| 4.30%, 11/20/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 29966 |
| 3.98% to 3/20/29, FRN thereafter, 3/20/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 29411 |
| 4.412% to 3/31/30, FRN thereafter, 3/31/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 79169 |
| 4.45%, 9/29/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 30035 |
| 4.75%, 5/18/46 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 8543 |
| Goldman Sachs Group, Inc., |  |  |  |
| 2.615% to 4/22/31, FRN thereafter, 4/22/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 17782 |
| 5.15%, 5/22/45 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 17982 |
| 1.093% to 12/09/25, FRN thereafter, 12/09/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 29537 |
| 6.75%, 10/01/37 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10986 |
| 4.75%, 10/21/45 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 17797 |
| 3.691% to 6/05/27, FRN thereafter, 6/05/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 19724 |
| 2.60%, 2/07/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 18488 |
| 4.25%, 10/21/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9988 |
| HSBC Holdings PLC, 4.762% to 3/29/32, FRN thereafter, 3/29/33 | &nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195899 |
| JPMorgan Chase & Co., |  |  |  |
| 3.109% to 4/22/40, FRN thereafter, 4/22/41 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 15339 |
| 3.109% to 4/22/50, FRN thereafter, 4/22/51 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 6735 |
| 3.509% to 1/23/28, FRN thereafter, 1/23/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 48984 |
| 2.545% to 11/08/31, FRN thereafter, 11/08/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 44031 |
| 5.294% to 7/22/34, FRN thereafter, 7/22/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10180 |
| Morgan Stanley, |  |  |  |
| 2.511% to 10/20/31, FRN thereafter, 10/20/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 26279 |
| 5.32% to 7/19/34, FRN thereafter, 7/19/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 40504 |
| PNC Financial Services Group, Inc., 5.582% to 6/12/28, FRN thereafter, 6/12/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10358 |
| Royal Bank of Canada, |  |  |  |
| 3.875%, 5/04/32 | &nbsp;&nbsp;Canada | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9568 |
| 5.15%, 2/01/34 | &nbsp;&nbsp;Canada | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10248 |
| Toronto-Dominion Bank, 4.456%, 6/08/32 | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9820 |
| Truist Financial Corp., 6.047% to 6/08/26, FRN thereafter, 6/08/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20273 |
| U.S. Bancorp, |  |  |  |
| 5.775% to 6/12/28, FRN thereafter, 6/12/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10386 |
| 5.836% to 6/10/33, FRN thereafter, 6/12/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10508 |
| Wells Fargo & Co., |  |  |  |
| 5.013% to 4/04/50, FRN thereafter, 4/04/51 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 63787 |
| 4.478% to 4/04/30, FRN thereafter, 4/04/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 19910 |
| 2.393% to 6/02/27, FRN thereafter, 6/02/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 28915 |
| 3.584% to 5/22/27, FRN thereafter, 5/22/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 49250 |
| 4.75%, 12/07/46 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 17156 |
| 3.35% to 3/02/32, FRN thereafter, 3/02/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9135 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;1175373 |
| **Beverages 0.3%** |  |  |  |
| Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc., 4.90%, 2/01/46 | &nbsp;&nbsp;Belgium | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32108 |
| Anheuser-Busch InBev Worldwide, Inc., 3.50%, 6/01/30 | &nbsp;&nbsp;Belgium | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9651 |
| Constellation Brands, Inc., 4.35%, 5/09/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10007 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51766 |
| **Biotechnology 0.1%** |  |  |  |
| Amgen, Inc., 4.663%, 6/15/51 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8569 |
| Gilead Sciences, Inc., 4.75%, 3/01/46 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8960 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17529 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Chemicals 1.1%** |  |  |  |
| <sup>b</sup> | OCP SA, 3.75%, 6/23/31 | &nbsp;&nbsp;Morocco | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 179589 |
|  | **Commercial Services & Supplies 0.3%** |  |  |  |
| <sup>a</sup> | EquipmentShare.com, Inc., 8.00%, 3/15/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10485 |
|  | PayPal Holdings, Inc., 5.15%, 6/01/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10161 |
|  | United Rentals North America, Inc., |  |  |  |
|  | 3.875%, 2/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9410 |
|  | <sup>a</sup> 6.125%, 3/15/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 20626 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50682 |
|  | **Construction Materials 0.3%** |  |  |  |
| <sup>a</sup> | Amrize Finance U.S. LLC, 4.95%, 4/07/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10139 |
| <sup>a</sup> | Builders FirstSource, Inc., 6.75%, 5/15/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10309 |
| <sup>a</sup> | Quikrete Holdings, Inc., 6.375%, 3/01/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20579 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41027 |
|  | **Electric 0.7%** |  |  |  |
|  | Consolidated Edison Co. of New York, Inc., |  |  |  |
|  | Series 20B, 3.95%, 4/01/50 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 7806 |
|  | Series 20A, 3.35%, 4/01/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9616 |
|  | Exelon Corp., 5.625%, 6/15/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10291 |
|  | FirstEnergy Corp., |  |  |  |
|  | Series B, 3.90%, 7/15/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9891 |
|  | Series C, 4.85%, 7/15/47 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 8510 |
|  | Florida Power & Light Co., 5.70%, 3/15/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10128 |
|  | Oglethorpe Power Corp., 5.90%, 2/01/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9837 |
| <sup>a</sup> | Oncor Electric Delivery Co. LLC, 5.35%, 4/01/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10192 |
|  | Pacific Gas & Electric Co., |  |  |  |
|  | 3.50%, 8/01/50 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 6420 |
|  | 2.50%, 2/01/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 8686 |
|  | 2.10%, 8/01/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9474 |
|  | Progress Energy, Inc., 6.00%, 12/01/39 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10425 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111276 |
|  | **Electric Utilities 0.1%** |  |  |  |
|  | Georgia Power Co., 5.20%, 3/15/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10145 |
|  | **Electronic Equipment, Instruments & Components 0.1%** |  |  |  |
|  | Honeywell International, Inc., 5.00%, 3/01/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10069 |
|  | **Energy Equipment & Services 0.1%** |  |  |  |
| <sup>a</sup> | Schlumberger Holdings Corp., 3.90%, 5/17/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9902 |
|  | **Entertainment 0.2%** |  |  |  |
| <sup>a</sup> | Caesars Entertainment, Inc., 7.00%, 2/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31086 |
|  | Warnermedia Holdings, Inc., 3.755%, 3/15/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7716 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38802 |
|  | **Environmental Control 0.3%** |  |  |  |
|  | GFL Environmental, Inc., |  |  |  |
|  | <sup>a</sup> 4.00%, 8/01/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9707 |
|  | <sup>a</sup> 6.75%, 1/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 31430 |
|  | Waste Connections, Inc., 5.00%, 3/01/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10111 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51248 |
|  | **Financial Services 1.7%** |  |  |  |
|  | Air Lease Corp., |  |  |  |
|  | 3.375%, 7/01/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 20000 |
|  | 5.30%, 2/01/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10224 |
|  | American Express Co., |  |  |  |
|  | 4.05%, 5/03/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9998 |
|  | 5.016% to 4/25/30, FRN thereafter, 4/25/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 40855 |
|  | 4.731% to 4/25/28, FRN thereafter, 4/25/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 20231 |
|  | Charles Schwab Corp., |  |  |  |
|  | 5.875%, 8/24/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 20341 |
|  | 6.136% to 8/24/33, FRN thereafter, 8/24/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10824 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| <sup>a</sup> | CI Financial Corp., 7.50%, 5/30/29 | &nbsp;&nbsp;Canada | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 21112 |
|  | Intercontinental Exchange, Inc., 4.60%, 3/15/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9972 |
| <sup>a</sup> | Jane Street Group/JSG Finance, Inc., 7.125%, 4/30/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 84231 |
|  | Mastercard, Inc., 3.85%, 3/26/50 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 7902 |
|  | Visa, Inc., |  |  |  |
|  | 4.30%, 12/14/45 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 8699 |
|  | 2.05%, 4/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 18212 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;282601 |
|  | **Food 0.4%** |  |  |  |
|  | JBS USA Holding Lux SARL/JBS USA Food Co./JBS Lux Co. SARL, 6.50%, 12/01/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10400 |
|  | Kraft Heinz Foods Co., 5.20%, 7/15/45 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18144 |
| <sup>a</sup> | Mars, Inc., 5.00%, 3/01/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30414 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58958 |
|  | **Forest Products & Paper 0.1%** |  |  |  |
| <sup>a</sup> | Georgia-Pacific LLC, 4.95%, 6/30/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10125 |
|  | **Health Care Providers & Services 1.0%** |  |  |  |
|  | Cigna Group, |  |  |  |
|  | 4.80%, 8/15/38 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9407 |
|  | 4.375%, 10/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10014 |
|  | Elevance Health, Inc., 3.65%, 12/01/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9884 |
|  | HCA, Inc., |  |  |  |
|  | 5.875%, 2/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10381 |
|  | 3.50%, 9/01/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9459 |
|  | 5.50%, 6/15/47 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9300 |
| <sup>a</sup> | LifePoint Health, Inc., 9.875%, 8/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54148 |
|  | UnitedHealth Group, Inc., |  |  |  |
|  | 3.875%, 8/15/59 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 14106 |
|  | 4.20%, 5/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 19367 |
|  | 4.00%, 5/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9889 |
|  | 5.00%, 4/15/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10001 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165956 |
|  | **Healthcare-Products 0.8%** |  |  |  |
|  | Abbott Laboratories, 4.75%, 11/30/36 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9957 |
| <sup>a</sup> | Medline Borrower LP/Medline Co-Issuer, Inc., 6.25%, 4/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71998 |
|  | Solventum Corp., |  |  |  |
|  | 5.40%, 3/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10300 |
|  | 5.45%, 3/13/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10388 |
|  | 5.90%, 4/30/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 20009 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122652 |
|  | **Home Builders 0.1%** |  |  |  |
|  | Lennar Corp., 4.75%, 11/29/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10073 |
|  | **Insurance 0.2%** |  |  |  |
|  | Aon North America, Inc., 5.45%, 3/01/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20555 |
|  | Berkshire Hathaway Finance Corp., 4.25%, 1/15/49 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8467 |
|  | MetLife, Inc., 6.40%, 12/15/66 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10491 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39513 |
|  | **Internet 1.6%** |  |  |  |
|  | Alphabet, Inc., |  |  |  |
|  | 1.90%, 8/15/40 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 13441 |
|  | 1.10%, 8/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 8641 |
|  | 5.25%, 5/15/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9856 |
|  | Amazon.com, Inc., |  |  |  |
|  | 3.10%, 5/12/51 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 6747 |
|  | 4.95%, 12/05/44 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 19423 |
|  | 3.60%, 4/13/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 28727 |
| <sup>b</sup> | Prosus NV, 3.061%, 7/13/31 | &nbsp;&nbsp;China | &nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177230 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264065 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Iron/Steel 0.1%** |  |  |  |
|  | ArcelorMittal SA, 7.00%, 10/15/39 | &nbsp;&nbsp;Luxembourg | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 11087 |
|  | **Leisure Time 1.2%** |  |  |  |
|  | Carnival Corp., |  |  |  |
|  | <sup>a</sup> 6.125%, 2/15/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 40951 |
|  | <sup>a</sup> 5.875%, 6/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10194 |
| <sup>a</sup> | NCL Corp. Ltd., 7.75%, 2/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 53195 |
| <sup>a</sup> | Royal Caribbean Cruises Ltd., 5.625%, 9/30/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 30202 |
| <sup>a</sup> | VOC Escrow Ltd., 5.00%, 2/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 69690 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204232 |
|  | **Lodging 0.2%** |  |  |  |
|  | Hilton Domestic Operating Co., Inc., |  |  |  |
|  | <sup>a</sup> 3.625%, 2/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9065 |
|  | <sup>a</sup> 5.875%, 3/15/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10195 |
|  | Las Vegas Sands Corp., |  |  |  |
|  | 6.00%, 8/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10282 |
|  | 5.625%, 6/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10203 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39745 |
|  | **Machinery-Diversified 0.1%** |  |  |  |
|  | Deere & Co., 3.75%, 4/15/50 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15550 |
|  | **Media 2.0%** |  |  |  |
| <sup>a</sup> | CCO Holdings LLC/CCO Holdings Capital Corp., 4.50%, 6/01/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82319 |
|  | Charter Communications Operating LLC/Charter Communications Operating Capital, |  |  |  |
|  | 4.908%, 7/23/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 3000 | &nbsp;&nbsp; 3000 |
|  | 5.375%, 5/01/47 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 8685 |
|  | 5.125%, 7/01/49 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 8321 |
|  | 5.50%, 4/01/63 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 8462 |
|  | 6.55%, 6/01/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10674 |
|  | Comcast Corp., |  |  |  |
|  | 3.999%, 11/01/49 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 7607 |
|  | 4.15%, 10/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 19966 |
|  | 4.25%, 10/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 19904 |
|  | 3.90%, 3/01/38 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 17406 |
|  | 5.35%, 5/15/53 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 18545 |
|  | 3.45%, 2/01/50 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 6863 |
|  | 5.30%, 6/01/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 20494 |
| <sup>a</sup> | DISH DBS Corp., 5.75%, 12/01/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43375 |
|  | Fox Corp., 5.476%, 1/25/39 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9793 |
|  | Time Warner Cable LLC, 6.55%, 5/01/37 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41334 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;326748 |
|  | **Mining 0.5%** |  |  |  |
|  | BHP Billiton Finance USA Ltd., 5.00%, 9/30/43 | &nbsp;&nbsp;Australia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9487 |
|  | Freeport-McMoRan, Inc., 5.45%, 3/15/43 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18913 |
|  | Glencore Funding LLC, |  |  |  |
|  | <sup>a</sup> 3.875%, 10/27/27 | &nbsp;&nbsp;Australia | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9872 |
|  | <sup>a</sup> 5.673%, 4/01/35 | &nbsp;&nbsp;Australia | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 20413 |
|  | <sup>a</sup> 6.141%, 4/01/55 | &nbsp;&nbsp;Australia | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10118 |
|  | Yamana Gold, Inc., 4.625%, 12/15/27 | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9961 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78764 |
|  | **Miscellaneous Manufacturing 0.1%** |  |  |  |
|  | Eaton Corp., 4.15%, 11/02/42 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8613 |
|  | **Oil & Gas 5.1%** |  |  |  |
|  | BP Capital Markets America, Inc., |  |  |  |
|  | 2.772%, 11/10/50 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 12221 |
|  | 3.588%, 4/14/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9906 |
|  | 1.749%, 8/10/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 8790 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Chevron Corp., |  |  |  |
|  | 1.995%, 5/11/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9662 |
|  | 3.078%, 5/11/50 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 6742 |
|  | Continental Resources, Inc., |  |  |  |
|  | 4.375%, 1/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9864 |
|  | <sup>a</sup> 5.75%, 1/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 20201 |
|  | 4.90%, 6/01/44 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 7866 |
|  | <sup>a</sup> 2.268%, 11/15/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9667 |
|  | Coterra Energy, Inc., |  |  |  |
|  | 3.90%, 5/15/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 19757 |
|  | 4.375%, 3/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 19814 |
|  | Diamondback Energy, Inc., 3.50%, 12/01/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9569 |
|  | Ecopetrol SA, 8.875%, 1/13/33 | &nbsp;&nbsp;Colombia | &nbsp;&nbsp;&nbsp;&nbsp;130000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134200 |
|  | EOG Resources, Inc., 4.375%, 4/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 |
|  | EQT Corp., |  |  |  |
|  | 5.00%, 1/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10089 |
|  | 3.90%, 10/01/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 15000 | &nbsp;&nbsp; 14806 |
|  | Expand Energy Corp., |  |  |  |
|  | 5.375%, 3/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 20070 |
|  | 4.75%, 2/01/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 19461 |
|  | Exxon Mobil Corp., 3.482%, 3/19/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9723 |
| <sup>b</sup> | KazMunayGas National Co. JSC, 3.50%, 4/14/33 | &nbsp;&nbsp;Kazakhstan | &nbsp;&nbsp;&nbsp;&nbsp;200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173685 |
|  | Occidental Petroleum Corp., |  |  |  |
|  | 7.50%, 5/01/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 11013 |
|  | 3.20%, 8/15/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 19623 |
|  | 6.625%, 9/01/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 31741 |
|  | 6.45%, 9/15/36 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10238 |
|  | 4.20%, 3/15/48 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 6816 |
|  | 3.40%, 4/15/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9887 |
|  | Petrobras Global Finance BV, 6.50%, 7/03/33 | &nbsp;&nbsp;Brazil | &nbsp;&nbsp;&nbsp;&nbsp;120000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123135 |
|  | Pioneer Natural Resources Co., |  |  |  |
|  | 2.15%, 1/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 8886 |
|  | 1.125%, 1/15/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9827 |
| <sup>a</sup> | Range Resources Corp., 4.75%, 2/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19470 |
|  | Shell Finance U.S., Inc., |  |  |  |
|  | 4.375%, 5/11/45 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 8468 |
|  | 2.75%, 4/06/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9381 |
|  | 4.00%, 5/10/46 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 7958 |
|  | 3.25%, 4/06/50 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 13692 |
|  | Shell International Finance BV, 6.375%, 12/15/38 | &nbsp;&nbsp;Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11102 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;837330 |
|  | **Oil & Gas Services 0.1%** |  |  |  |
|  | Halliburton Co., 4.85%, 11/15/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9631 |
|  | **Oil, Gas & Consumable Fuels 0.1%** |  |  |  |
|  | Cheniere Energy, Inc., 4.625%, 10/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19978 |
|  | **Paper & Forest Products 0.3%** |  |  |  |
|  | Suzano Austria GmbH, 3.75%, 1/15/31 | &nbsp;&nbsp;Brazil | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56244 |
|  | **Personal Care Products 0.1%** |  |  |  |
|  | Kenvue, Inc., 4.90%, 3/22/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10153 |
|  | Procter & Gamble Co., 3.00%, 3/25/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9545 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19698 |
|  | **Pharmaceuticals 1.4%** |  |  |  |
|  | AbbVie, Inc., |  |  |  |
|  | 4.25%, 11/21/49 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 8244 |
|  | 3.20%, 11/21/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 19136 |
|  | 4.80%, 3/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10198 |
|  | 4.95%, 3/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10269 |
|  | 5.05%, 3/15/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10185 |
|  | Bristol-Myers Squibb Co., |  |  |  |
|  | 5.10%, 2/22/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10360 |
|  | 5.20%, 2/22/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 20491 |
|  | 5.65%, 2/22/64 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9718 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | CVS Health Corp., |  |  |  |
|  | 5.05%, 3/25/48 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 17286 |
|  | 4.30%, 3/25/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9961 |
|  | 3.875%, 7/20/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9992 |
|  | 2.125%, 9/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 17116 |
|  | Eli Lilly & Co., |  |  |  |
|  | 4.70%, 2/09/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9998 |
|  | 5.10%, 2/09/64 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9299 |
|  | Johnson & Johnson, 3.625%, 3/03/37 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 17907 |
|  | Merck & Co., Inc., 1.45%, 6/24/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17500 |
|  | Pfizer, Inc., |  |  |  |
|  | 1.70%, 5/28/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 17731 |
|  | 7.20%, 3/15/39 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 11886 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237277 |
|  | **Pipelines 2.7%** |  |  |  |
|  | Cameron LNG LLC, |  |  |  |
|  | <sup>a</sup> 2.902%, 7/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9088 |
|  | <sup>a</sup> 3.302%, 1/15/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 8577 |
|  | Cheniere Energy Partners LP, 3.25%, 1/31/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17939 |
|  | Energy Transfer LP, |  |  |  |
|  | 6.25%, 4/15/49 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 19750 |
|  | 3.75%, 5/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 19197 |
|  | 5.55%, 5/15/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 20258 |
|  | Enterprise Products Operating LLC, |  |  |  |
|  | 2.80%, 1/31/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 18751 |
|  | 3.70%, 1/31/51 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 28915 |
|  | Series H, 6.65%, 10/15/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 11109 |
|  | 4.15%, 10/16/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9996 |
|  | 5.375% to 2/15/28, FRN thereafter, 2/15/78 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9861 |
|  | 4.85%, 1/31/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9965 |
| <sup>a</sup> | Florida Gas Transmission Co. LLC, 5.75%, 7/15/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10237 |
|  | MPLX LP, |  |  |  |
|  | 4.50%, 4/15/38 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 8852 |
|  | 4.80%, 2/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 20200 |
|  | ONEOK, Inc., 5.80%, 11/01/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20947 |
|  | Southern Natural Gas Co. LLC, 8.00%, 3/01/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11336 |
|  | Targa Resources Corp., 4.95%, 4/15/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8353 |
|  | Targa Resources Partners LP/Targa Resources Partners Finance Corp., |  |  |  |
|  | 5.00%, 1/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10008 |
|  | 6.875%, 1/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10201 |
|  | 4.875%, 2/01/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9925 |
| <sup>a</sup> | Tennessee Gas Pipeline Co. LLC, 2.90%, 3/01/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18479 |
| <sup>a</sup> | Venture Global Calcasieu Pass LLC, 3.875%, 11/01/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;43765 |
| <sup>a</sup> | Venture Global LNG, Inc., 7.00%, 1/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10118 |
|  | Western Midstream Operating LP, 4.05%, 2/01/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38484 |
|  | Williams Cos., Inc., |  |  |  |
|  | 5.75%, 6/24/44 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9811 |
|  | 3.50%, 11/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 18916 |
|  | 5.15%, 3/15/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9983 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;443021 |
|  | **Real Estate Investment Trusts (REITs) 0.1%** |  |  |  |
|  | Service Properties Trust, 8.375%, 6/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20817 |
|  | **Retail 0.8%** |  |  |  |
|  | Costco Wholesale Corp., |  |  |  |
|  | 1.60%, 4/20/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 8926 |
|  | 1.375%, 6/20/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 19082 |
|  | Home Depot, Inc., |  |  |  |
|  | 3.90%, 6/15/47 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 15772 |
|  | 2.70%, 4/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9342 |
|  | 2.50%, 4/15/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9738 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Lowe's Cos., Inc., 4.50%, 4/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10080 |
|  | McDonald's Corp., |  |  |  |
|  | 4.20%, 4/01/50 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 7947 |
|  | 3.60%, 7/01/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9678 |
|  | 3.50%, 3/01/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9889 |
| <sup>a</sup> | QXO Building Products, Inc., 6.75%, 4/30/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10327 |
|  | Walmart, Inc., |  |  |  |
|  | 1.80%, 9/22/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 8716 |
|  | 1.50%, 9/22/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 18544 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138041 |
|  | **Semiconductors 0.6%** |  |  |  |
| <sup>a</sup> | Broadcom, Inc., 4.926%, 5/15/37 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29131 |
|  | Intel Corp., |  |  |  |
|  | 4.75%, 3/25/50 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 8166 |
|  | 5.125%, 2/10/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10229 |
|  | 1.60%, 8/12/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 18381 |
|  | Micron Technology, Inc., |  |  |  |
|  | 5.30%, 1/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10244 |
|  | 6.05%, 11/01/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10470 |
|  | QUALCOMM, Inc., 5.00%, 5/20/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10073 |
|  | Texas Instruments, Inc., 1.75%, 5/04/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8920 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;105614 |
|  | **Software 0.4%** |  |  |  |
|  | Microsoft Corp., 2.921%, 3/17/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6638 |
|  | Oracle Corp., |  |  |  |
|  | 3.60%, 4/01/50 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 7000 |
|  | 2.875%, 3/25/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 18248 |
|  | Synopsys, Inc., |  |  |  |
|  | 4.85%, 4/01/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10142 |
|  | 5.00%, 4/01/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10133 |
|  | 5.70%, 4/01/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9950 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62111 |
|  | **Telecommunications 1.8%** |  |  |  |
|  | AT&T, Inc., |  |  |  |
|  | 4.30%, 2/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9971 |
|  | 3.50%, 9/15/53 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 6774 |
|  | 2.55%, 12/01/33 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 16745 |
|  | 5.55%, 8/15/41 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9891 |
|  | 5.375%, 8/15/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 30559 |
|  | Rogers Communications, Inc., 5.30%, 2/15/34 | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10014 |
|  | T-Mobile USA, Inc., |  |  |  |
|  | 3.375%, 4/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 19258 |
|  | 3.875%, 4/15/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 70000 | &nbsp;&nbsp; 68007 |
|  | 5.15%, 4/15/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 20264 |
|  | Verizon Communications, Inc., |  |  |  |
|  | 4.862%, 8/21/46 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 17867 |
|  | 2.355%, 3/15/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 40000 | &nbsp;&nbsp; 34494 |
|  | 4.78%, 2/15/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 50000 | &nbsp;&nbsp; 48733 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;292577 |
|  | **Transportation 0.4%** |  |  |  |
|  | Burlington Northern Santa Fe LLC, 2.875%, 6/15/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6326 |
|  | Canadian Pacific Railway Co., 3.10%, 12/02/51 | &nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13160 |
|  | Union Pacific Corp., |  |  |  |
|  | 3.75%, 2/05/70 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 13563 |
|  | 3.839%, 3/20/60 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 14414 |
|  | 2.891%, 4/06/36 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 16548 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64011 |
|  | **Total Corporate Bonds & Notes (Cost $5,978,628)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;6200329 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | |
|:---|:---|:---|:---|
| **U.S. Government & Agency Securities 45.1%** |  |  |  |
| Federal Home Loan Mortgage Corp., |  |  |  |
| 2.00%, 3/01/41 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 66070 | &nbsp;&nbsp; 56955 |
| 2.00%, 8/01/41 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 371020 | &nbsp;&nbsp; 320297 |
| 2.00%, 3/01/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 97612 | &nbsp;&nbsp; 78214 |
| 3.00%, 9/01/40 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 92098 | &nbsp;&nbsp; 85946 |
| 4.50%, 10/01/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 165605 | &nbsp;&nbsp; 158796 |
| 6.00%, 8/01/53 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 250040 | &nbsp;&nbsp; 255299 |
| Federal National Mortgage Association, |  |  |  |
| 1.50%, 11/01/41 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 75939 | &nbsp;&nbsp; 62483 |
| 1.50%, 2/01/42 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 91606 | &nbsp;&nbsp; 75996 |
| 2.00%, 3/01/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 176455 | &nbsp;&nbsp; 142143 |
| 2.50%, 11/01/41 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 70696 | &nbsp;&nbsp; 63091 |
| 2.50%, 2/01/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 619468 | &nbsp;&nbsp; 521431 |
| 3.00%, 9/01/61 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 233200 | &nbsp;&nbsp; 197312 |
| 3.50%, 1/01/50 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 168576 | &nbsp;&nbsp; 154760 |
| 4.00%, 5/01/52 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 82733 | &nbsp;&nbsp; 77620 |
| 5.50%, 4/01/53 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 243401 | &nbsp;&nbsp; 244796 |
| Government National Mortgage Association, |  |  |  |
| 3.00%, 6/20/51 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 67164 | &nbsp;&nbsp; 59104 |
| 5.00%, 8/20/53 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 83539 | &nbsp;&nbsp; 82607 |
| 5.50%, 3/20/53 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 78825 | &nbsp;&nbsp; 79408 |
| 6.00%, 9/20/53 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 91326 | &nbsp;&nbsp; 93807 |
| Government National Mortgage Association, TBA, |  |  |  |
| 2.00%, 7/20/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 81467 |
| 2.50%, 7/20/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 84975 |
| 3.00%, 7/20/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 176934 |
| 3.50%, 7/20/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 181854 |
| 4.00%, 7/20/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 92993 |
| 4.50%, 7/20/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 191474 |
| 5.00%, 7/20/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 98246 |
| 5.50%, 7/20/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100163 |
| U.S. Treasury Bills, |  |  |  |
| 4.315%, 10/21/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 110000 | &nbsp;&nbsp; 108565 |
| 4.325%, 7/22/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 159612 |
| 4.39%, 8/26/25 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 330000 | &nbsp;&nbsp; 327785 |
| U.S. Treasury Bonds, |  |  |  |
| 3.375%, 11/15/48 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 150000 | &nbsp;&nbsp; 118705 |
| 4.625%, 2/15/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 80000 | &nbsp;&nbsp; 77900 |
| 4.75%, 2/15/41 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 240000 | &nbsp;&nbsp; 243197 |
| U.S. Treasury Notes, |  |  |  |
| 3.75%, 8/31/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 9909 |
| 3.875%, 5/31/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10024 |
| 3.875%, 8/15/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 29300 |
| 4.00%, 3/31/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 790000 | &nbsp;&nbsp; 797530 |
| 4.00%, 5/31/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10098 |
| 4.00%, 2/15/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 30000 | &nbsp;&nbsp; 29697 |
| 4.25%, 2/28/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 20357 |
| 4.25%, 11/15/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 20072 |
| 4.25%, 5/15/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10016 |
| 4.375%, 11/30/30 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 133387 |
| 4.625%, 4/30/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10315 |
| 4.875%, 10/31/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 10000 | &nbsp;&nbsp; 10362 |
| Uniform Mortgage-Backed Security, TBA, |  |  |  |
| 2.00%, 7/01/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 79186 |
| 2.50%, 7/01/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 82928 |
| 3.00%, 7/01/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 700000 | &nbsp;&nbsp; 605817 |
| 4.00%, 7/01/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 92996 |
| 4.50%, 7/01/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 95666 |
| 5.00%, 7/01/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 196027 |
| 5.50%, 7/01/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 99993 |
| 6.00%, 7/01/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101628 |

---

------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | 6.50%, 7/01/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103263 |
|  | **Total U.S. Government & Agency Securities (Cost $7,265,907)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;7402506 |
|  | **Foreign Government and Agency Securities<br> 1.2%** |  |  |  |
|  | Mexico Government International Bonds, 4.875%, 5/19/33 | &nbsp;&nbsp;Mexico | &nbsp;&nbsp; 200000 | &nbsp;&nbsp; 189140 |
|  | **Total Foreign Government and Agency Securities (Cost $186,882)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189140 |
| <sup>c</sup> | **Senior Floating Rate Interests 0.3%** |  |  |  |
|  | **Financial Services 0.1%** |  |  |  |
|  | Jane Street Group LLC, 2024 Term Loan B1, 3 mo. USD Term SOFR + 2.00%, 6.333%, 12/15/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 19948 | &nbsp;&nbsp; 19946 |
|  | **Health Care Equipment & Supplies 0.2%** |  |  |  |
|  | Medline Borrower LP, 2024 USD Add-on Term Loan B, 1 mo. USD Term SOFR + 2.25%, 6.577%, 10/23/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13833 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13864 |
|  | Sotera Health Holdings LLC, 2024 Term Loan B, 3 mo. USD Term SOFR + 3.25%, 7.549%, 5/30/31 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13911 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27775 |
|  | **Insurance 0.0%<sup>†</sup>** |  |  |  |
|  | AmWINS Group, Inc., 2025 Term Loan B, 1 mo. USD Term SOFR + 2.25%, 6.577%, 1/30/32 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9989 |
|  | **Total Floating Rate Loans (Cost $57,320)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57710 |
|  | **Asset-Backed Securities 12.9%** |  |  |  |
| <sup>c</sup> | Accredited Mortgage Loan Trust, Series 2004-4, Class A2D, 1 mo. USD Term SOFR + 0.81%, 4.979%, 1/25/35 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83866 |
| <sup>a,c</sup> | ARES XLIV CLO Ltd., Series 2017-44A, Class A1R, 3 mo. USD Term SOFR + 1.34%, 5.598%, 4/15/34 | &nbsp;&nbsp;Cayman Islands | &nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100161 |
| <sup>a,c</sup> | Bayview Opportunity Master Fund VII LLC, Series 2024-EDU1, Class A, 30 day USD SOFR Average + 1.45%, 5.755%, 6/25/47 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68198 |
|  | Capital One Prime Auto Receivables Trust, Series 2022-2, Class A3, ABS, 3.66%, 5/17/27 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38463 |
| <sup>a</sup> | College Avenue Student Loans LLC, Series 2023-A, Class C, 6.06%, 5/25/55 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93633 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95792 |
| <sup>a,c</sup> | Dryden 87 CLO Ltd., Series 2021-87A, Class A1, 3 mo. USD Term SOFR + 1.36%, 5.684%, 5/20/34 | &nbsp;&nbsp;Cayman Islands | &nbsp;&nbsp;&nbsp;&nbsp;350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;350575 |
| <sup>a</sup> | Ent Auto Receivables Trust, Series 2023-1A, Class A4, 6.26%, 11/15/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102816 |
|  | Enterprise Fleet Financing LLC, |  |  |  |
|  | <sup>a</sup> Series 2023-1, Class A2, 5.51%, 1/22/29 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 36995 | &nbsp;&nbsp; 37115 |
|  | <sup>a</sup> Series 2025-2, Class A2, 4.51%, 2/22/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100178 |
|  | Fifth Third Auto Trust, Series 2023-1, Class A3, 5.53%, 8/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74292 |
| <sup>a</sup> | Ford Credit Floorplan Master Owner Trust A, Series 2023-1, Class A1, 4.92%, 5/15/28 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80373 |
| <sup>a</sup> | Gilead Aviation LLC, Series 2025-1A, Class A, 5.789%, 3/15/50 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100798 |
| <sup>a,c</sup> | Nelnet Student Loan Trust, Series 2021-CA, Class AFL, 1 mo. USD Term SOFR + 0.85%, 5.172%, 4/20/62 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90491 |
| <sup>c</sup> | New Century Home Equity Loan Trust, Series 2004-2, Class M2, 1 mo. USD Term SOFR + 1.04%, 5.364%, 8/25/34 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69429 |
| <sup>a,c</sup> | Palmer Square CLO Ltd., Series 2021-1A, Class A1AR, 3 mo. USD Term SOFR + 1.15%, 5.419%, 4/20/38 | &nbsp;&nbsp;Cayman Islands | &nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100068 |
|  | PFS Financing Corp., |  |  |  |
|  | <sup>a</sup> Series 2023-A, Class A, 5.80%, 3/15/28 | &nbsp;&nbsp;Cayman Islands | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100917 |
|  | <sup>a</sup> Series 2023-B, Class B, 5.71%, 5/15/28 | &nbsp;&nbsp;Cayman Islands | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100540 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
| <sup>a,c</sup> | Point Au Roche Park CLO Ltd., Series 2021-1A, Class A, 3 mo. USD Term SOFR + 1.34%, 5.611%, 7/20/34 | &nbsp;&nbsp;Cayman Islands | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 100170 |
| <sup>a</sup> | Sapphire Aviation Finance II Ltd., Series 2020-1A, Class A, 3.228%, 3/15/40 | &nbsp;&nbsp;Cayman Islands | &nbsp;&nbsp; 127220 | &nbsp;&nbsp; 121612 |
| <sup>a,c</sup> | Sycamore Tree CLO Ltd., Series 2025-6A, Class A1, 3 mo. USD Term SOFR + 1.20%, 5.482%, 4/20/38 | &nbsp;&nbsp;Cayman Islands | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 99965 |
| <sup>a,c</sup> | Voya CLO Ltd., Series 2018-2A, Class A1, 3 mo. USD Term SOFR + 1.26%, 5.518%, 7/15/31 | &nbsp;&nbsp;Cayman Islands | &nbsp;&nbsp; 106763 | &nbsp;&nbsp; 106950 |
|  | **Total Asset-Backed Securities (Cost $2,093,850)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;2122769 |
|  |  |  | &nbsp;&nbsp;**Shares** |  |
|  | **Common Stocks 0.0%<sup>†</sup>** |  |  |  |
|  | **Passenger Airlines 0.0%<sup>†</sup>** |  |  |  |
| <sup>d</sup> | Spirit Aviation Holdings, Inc. | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1752 |
|  | **Total Common Stocks (Cost $5,792)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1752 |
|  |  |  | &nbsp;&nbsp;**Principal Amount\*** |  |
|  | **Mortgage-Backed Securities 0.6%** |  |  |  |
|  | Federal Home Loan Mortgage Corp. REMICS, Series 5274, Class IO, CMO, IO, 2.50%, 1/25/51 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;594704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101268 |
|  | **Total Mortgage-Backed Securities (Cost $95,524)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101268 |
|  | **Residential Mortgage-Backed Securities 1.9%** |  |  |  |
|  | Federal Home Loan Mortgage Corp. STACR REMICS Trust, |  |  |  |
|  | <sup>a,c</sup> Series 2022-DNA1, Class M1B, 30 day USD SOFR Average + 1.85%, 6.155%, 1/25/42 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 101059 |
|  | <sup>a,c</sup> Series 2022-DNA4, Class M1B, 30 day USD SOFR Average + 3.35%, 7.655%, 5/25/42 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103992 |
|  | <sup>a,c</sup> Series 2022-DNA2, Class M2, 30 day USD SOFR Average + 3.75%, 8.055%, 2/25/42 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 103924 |
|  | **Total Residential Mortgage-Backed Securities (Cost $304,156)** |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;308975 |
|  | **Commercial Mortgage-Backed Securities<br> 11.0%** |  |  |  |
| <sup>a,c</sup> | Angel Oak Mortgage Trust, Series 2022-3, Class A3, 4.128%, 1/25/67 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85011 |
|  | Bank, Series 2017-BNK7, Class A5, 3.435%, 9/15/60 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97800 |
|  | Benchmark Mortgage Trust, Series 2023-B39, Class A5, 5.754%, 7/15/56 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158267 |
| <sup>a,c</sup> | BX Commercial Mortgage Trust, Series 2021-VOLT, Class A, 1 mo. USD Term SOFR + 0.81%, 5.126%, 9/15/36 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;106571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106272 |
|  | BX Trust, |  |  |  |
|  | <sup>a</sup> Series 2019-OC11, Class A, 3.202%, 12/09/41 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 130000 | &nbsp;&nbsp; 121354 |
|  | <sup>a,c</sup> Series 2021-BXMF, Class A, 1 mo. USD Term SOFR + 0.75%, 5.062%, 10/15/26 | &nbsp;&nbsp;United States | &nbsp;&nbsp; 88883 | &nbsp;&nbsp; 88796 |
| <sup>a</sup> | Deephaven Residential Mortgage Trust, Series 2024-1, Class A1, 5.735%, 7/25/69 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;100593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101206 |
| <sup>a,c</sup> | FS Commercial Mortgage Trust, Series 2023-4SZN, Class B, 7.795%, 11/10/39 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102685 |
| <sup>a,c</sup> | GCAT Trust, Series 2024-INV1, Class 1A2, 5.50%, 1/25/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81636 |
| <sup>c</sup> | GS Mortgage Securities Trust, Series 2018-GS10, Class A5, 4.155%, 7/10/51 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107664 |
| <sup>a,c</sup> | MIC Trust, Series 2023-MIC, Class A, 8.732%, 12/05/38 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109196 |
| <sup>a,c</sup> | Morgan Stanley Residential Mortgage Loan Trust, Series 2024-INV2, Class A1, 6.50%, 2/25/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61578 |
| <sup>a,c</sup> | PFP Ltd., Series 2024-11, Class A, 1 mo. USD Term SOFR + 1.83%, 6.144%, 9/17/39 | &nbsp;&nbsp;Bermuda | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88421 |
| <sup>a,c</sup> | RCKT Mortgage Trust, Series 2024-INV1, Class A1, 6.50%, 6/25/54 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86966 |
|  | UBS Commercial Mortgage Trust, Series 2017-C4, Class A3, 3.301%, 10/15/50 | &nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;118434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116107 |

---

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FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | Verus Securitization Trust, |  |  |  |  |  |
|  | <sup>a</sup> Series 2023-4, Class A1, 5.811%, 5/25/68 | &nbsp;&nbsp;United States |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 59661 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 59754 |
|  | <sup>a,c</sup> Series 2022-7, Class A3, 5.35%, 7/25/67 | &nbsp;&nbsp;United States |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 86022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 86658 |
|  | <sup>a</sup> Series 2024-4, Class A3, 6.674%, 6/25/69 | &nbsp;&nbsp;United States |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 77242 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 78273 |
|  | <sup>a</sup> Series 2024-3, Class A3, 6.845%, 4/25/69 | &nbsp;&nbsp;United States |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 67881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 68830 |
|  | **Total Commercial Mortgage-Backed Securities (Cost $1,744,368)** |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1806474 |
|  |  |  | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Contracts** | &nbsp;&nbsp;**Notional<br> Amount** |  |
|  | **Purchased Options 0.1%** |  |  |  |  |  |
|  | 3 Month SOFR 96.25 Put |  | &nbsp;&nbsp;12/12/25 | &nbsp;&nbsp;4 | &nbsp;&nbsp;$963300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1700 |
|  | 3 Month SOFR 96.375 Call |  | &nbsp;&nbsp;12/12/25 | &nbsp;&nbsp;4 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;963300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1975 |
|  | 3 Month SOFR 96.75 Call |  | &nbsp;&nbsp;&nbsp;&nbsp;6/12/26 | &nbsp;&nbsp;16 | &nbsp;&nbsp;&nbsp;&nbsp;3862800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16100 |
|  | U.S. Treasury 5 Yr. Note 106.20 Put |  | &nbsp;&nbsp;&nbsp;&nbsp;7/25/25 | &nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31 |
|  | U.S. Treasury 5 Yr. Note 109.00 Call |  | &nbsp;&nbsp;&nbsp;&nbsp;7/25/25 | &nbsp;&nbsp;6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;654000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2719 |
|  | **Total Purchased Option (Cost $22,549)** |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22525 |
|  | **Total Investments before Short-Term Investments (Cost $17,754,976)** |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18213448 |
|  |  | &nbsp;&nbsp;**Country** |  |  | &nbsp;&nbsp;**Shares** |  |
|  | **Short-Term Investments 2.5%** |  |  |  |  |  |
|  | **Money Market Funds 2.5%** |  |  |  |  |  |
| <sup>e</sup> | Invesco Government & Agency Portfolio, 3.71% | &nbsp;&nbsp;United States |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;408626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;408626 |
|  | **Total Short-Term Investments (Cost $408,626)** |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;408626 |
|  | **Total Investments (Cost $18,163,602) 113.4%** |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18622074 |
|  | **Other Assets, less Liabilities (13.4)%** |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2201756) |
|  | **Net Assets 100.0%** |  |  |  |  | &nbsp;&nbsp;$16420318 |

---

---

| |
|:---|
| <sup>†</sup>Rounds to less than 0.1% of net assets. |
| \*The principal amount is stated in U.S. dollars unless otherwise indicated. |
| <sup>a</sup>Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional buyers or in a public offering registered under the Securities Act of 1933. At June 30, 2025, the aggregate value of these securities was $4,636,177, representing 28.2% of net assets. |
| <sup>b</sup>Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption from registration. At June 30, 2025, the aggregate value of these securities was $530,504, representing 3.2% of net assets. |
| <sup>c</sup>Variable rate security. The rate shown represents the yield at period end. |
| <sup>d</sup>Non-income producing. |
| <sup>e</sup>The rate shown is the annualized seven-day effective yield at period end. |

---

At June 30, 2025, the Fund had the following centrally cleared credit default swap contracts outstanding.

#### Centrally Cleared Credit Default Swap Contracts

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Reference<br> Entity** | &nbsp;&nbsp;**Periodic<br> Payment<br> Rate<br> Received<br> (Paid)** | &nbsp;&nbsp;**Payment<br> Frequency** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Notional<br> Amount<sup>a</sup>** | &nbsp;&nbsp;**Value** | &nbsp;&nbsp;**Unamortized<br> Upfront<br> Payments<br> (Receipts)** | &nbsp;&nbsp;**Unrealized<br> Appreciation<br> (Depreciation)** |
| **Contracts to Sell<br> Protection<sup>b,c</sup>** |  |  |  |  |  |  |  |  |
| Intercontinental Exchange, Inc. | CDX.NA.IG.S44 | &nbsp;&nbsp;1.000% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;6/20/30 | $1514000 | &nbsp;&nbsp;$33750 | &nbsp;&nbsp;$28390 | &nbsp;&nbsp;$5360 |
| Intercontinental Exchange, Inc. | CDX.NA.HY.S44 | &nbsp;&nbsp;(5.000)% | &nbsp;&nbsp;Quarterly | &nbsp;&nbsp;6/20/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6816) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5310) | &nbsp;&nbsp;&nbsp;&nbsp;(1506) |
|  |  |  |  |  |  |  |  | &nbsp;&nbsp;$3854 |

---

------

FRANKLIN TEMPLETON ETF TRUST

SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

---

| |
|:---|
| <sup>a</sup>In U.S. dollars unless otherwise indicated. For contracts to sell protection, the notional amount is equal to the maximum potential amount of the future payments and no recourse provisions have been entered into in association with the contracts. |
| <sup>b</sup>Performance triggers for settlement of contract include default, bankruptcy or restructuring for single name swaps, and failure to pay or bankruptcy of the underlying securities for traded inex swaps. |
| <sup>c</sup>The fund enters contracts to sell protection to create a long credit position. |

---

At June 30, 2025, the Fund had the following centrally cleared interest rate swap contracts outstanding.

#### Centrally Cleared Interest Rate Swap Contracts

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Description** | **Payments<br> Made by<br> the Fund** | &nbsp;&nbsp;**Payments<br> Received by<br> the Fund** | &nbsp;&nbsp;**Maturity<br> Date** | &nbsp;&nbsp;**Notional<br> Amount** | &nbsp;&nbsp;**Value** | &nbsp;&nbsp;**Unamortized<br> Upfront<br> Payments<br> (Receipts)** | &nbsp;&nbsp;**Unrealized<br> Appreciation<br> (Depreciation)** |
| **Interest rate contracts** |  |  |  |  |  |  |  |
| Chicago Mercantile Exchange | Daily SOFR<br> Compound annually | &nbsp;&nbsp;3.770% annually | &nbsp;&nbsp;11/15/53 | &nbsp;&nbsp;$110000 | &nbsp;&nbsp;$3006 | &nbsp;&nbsp;$498 | &nbsp;&nbsp;$2508 |
| Chicago Mercantile Exchange | Daily SOFR<br> Compound annually | &nbsp;&nbsp;3.730% annually | &nbsp;&nbsp;1/31/32 | &nbsp;&nbsp;&nbsp;&nbsp;1895000 | &nbsp;&nbsp;&nbsp;&nbsp;(23829) | &nbsp;&nbsp;&nbsp;&nbsp;(8419) | &nbsp;&nbsp;&nbsp;&nbsp;(15410) |
| Chicago Mercantile Exchange | Daily SOFR<br> Compound annually | &nbsp;&nbsp;3.850% annually | &nbsp;&nbsp;4/28/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;463000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5393) | &nbsp;&nbsp;&nbsp;&nbsp;(1145) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4248) |
| Chicago Mercantile Exchange | 3.300% annually | &nbsp;&nbsp;Daily SOFR<br> Compound annually | &nbsp;&nbsp;4/28/28 | &nbsp;&nbsp;&nbsp;&nbsp;1973000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(41) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4870 |
|  |  |  |  |  |  |  | &nbsp;&nbsp;$(12280) |

---

At June 30, 2025, the Fund had the following futures contracts outstanding.

#### Futures Contracts

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | &nbsp;&nbsp;**Type** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Notional<br> Amount\*** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value/Unrealized<br> Appreciation<br> (Depreciation)** |
| **Interest rate contracts** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3-Month CME Term SOFR | &nbsp;&nbsp; Long | &nbsp;&nbsp; 3 | &nbsp;&nbsp;$727275 | &nbsp;&nbsp;3/16/27 | &nbsp;&nbsp;$3210 |
| &nbsp;&nbsp;&nbsp;&nbsp;3-Month CME Term SOFR | &nbsp;&nbsp; Long | &nbsp;&nbsp; 7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1685775 | &nbsp;&nbsp;3/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 531 |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury 5 Yr. Note | &nbsp;&nbsp; Long | &nbsp;&nbsp;46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5014000 | &nbsp;&nbsp;9/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 51625 |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Bond Long | &nbsp;&nbsp; Long | &nbsp;&nbsp;13 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1501094 | &nbsp;&nbsp;9/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44815 |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Bond Ultra | &nbsp;&nbsp; Long | &nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 238250 | &nbsp;&nbsp;9/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7936 |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury 10 Yr. Note | &nbsp;&nbsp;Short | &nbsp;&nbsp;14 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1569750 | &nbsp;&nbsp;9/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(23126) |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury 2 Yr. Note | &nbsp;&nbsp;Short | &nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2080235 | &nbsp;&nbsp;9/30/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7896) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Futures Contracts |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;$77095 |

---

\*As of period end.

At June 30, 2025, the Fund had the following written options contracts.

#### Options Written

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description** | **Expiration<br> Date** | **Strike<br> Price** | **Contracts** | **Notional<br> Amount<sup>\*</sup>** | **Value** |
| **Call Options Written (Exchange Traded)** |  |  |  |  |  |
| &nbsp;&nbsp;3 Month SOFR 96.87 Call | 12/12/25 | $96.88 | 4 | $963300 | $875 |
| &nbsp;&nbsp;U.S. Treasury 5 Yr. Note 109.50 Call | &nbsp;&nbsp;7/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;109.50 | 5 | &nbsp;&nbsp;&nbsp;&nbsp;545000 | &nbsp;&nbsp;&nbsp;&nbsp;1289 |
| &nbsp;&nbsp;&nbsp;&nbsp;(Premiums received—$3,150) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total** |  |  |  |  | &nbsp;&nbsp;$2164 |

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------

FRANKLIN TEMPLETON ETF TRUST<br> SCHEDULE OF INVESTMENTS, June 30, 2025 (unaudited) (continued)

#### Options Written (continued)<br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Put Options Written (Exchange Traded)** |  |  |  |  |  |
| &nbsp;&nbsp;1 Year Mid-Curve SOFR 96.25 Put | 12/12/25 | 96.25 | 4 | 969700 | &nbsp;&nbsp;&nbsp; 550 |
| &nbsp;&nbsp;&nbsp;&nbsp;(Premiums received—$2,992) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total** |  |  |  |  | &nbsp;&nbsp;$550 |
| **Total Options Written (Premiums received—$6,142)** |  |  |  |  | **$2714** |

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<sup>\*</sup>Notional amount denominated in U.S. dollars, unless otherwise noted.

#### Abbreviations

---

| | |
|:---|:---|
| **Selected Portfolio** |  |
| **CLO** | Collateralized Loan Obligation |
| **FRN** | Floating Rate Note |
| **SOFR** | Secured Overnight Financing Rate |

---

------

Franklin Templeton ETF Trust<br>

Notes to Schedules of Investments (unaudited)

1. ORGANIZATION

Franklin Templeton ETF Trust (Trust) is registered under the Investment Company Act of 1940 (1940 Act) as an open-end management investment company, consisting of fifty-one separate funds (Funds). The Funds follow the accounting and reporting guidance in Financial Accounting Standards Board (FASB) Accounting Standard Codification Topic 946, Financial Services – Investment Companies (ASC 946) and apply the specialized accounting and reporting guidance in U.S. Generally Accepted Accounting Principles (U.S. GAAP), including, but not limited to, ASC 946. Franklin Systematic Style Premia ETF's Schedule of Investments have been consolidated and include the accounts of the Fund, Franklin Systematic Style Premia ETF, and the FLSP Holdings Corporation (Cayman Blocker). All intercompany transactions and Franklin Systematic Style Premia ETF's investments in their FLSP Holdings Corporation (Cayman Blocker) are limited to 25% of consolidated assets. Each of the Funds are an exchange traded fund (ETF). The Funds seek to provide the investment results that closely correspond, before fees and expenses, to the performance of each Fund's corresponding underlying index, with the exception of BrandywineGLOBAL - Dynamic US Large Cap Value ETF, BrandywineGLOBAL - U.S. Fixed Income ETF, ClearBridge Sustainable Infrastructure ETF, Western Asset Bond ETF, Franklin High Yield Corporate ETF, Franklin Dynamic Municipal Bond ETF, Franklin International Aggregate Bond ETF, Franklin Investment Grade Corporate ETF, Franklin Municipal Green Bond ETF, Franklin Senior Loan ETF, Franklin Sustainable International Equity ETF, Franklin Systematic Style Premia ETF, Franklin U.S. Core Bond ETF, Franklin Income Equity Focus ETF, Franklin U.S. Treasury Bond ETF, Franklin Disruptive Commerce ETF, Franklin Exponential Data ETF, Franklin Focused Growth ETF, Franklin Genomic Advancements ETF, Franklin Intelligent Machines ETF, Franklin Ultra Short Bond ETF and Franklin Income Focus ETF, which are actively managed, thus they are not designed to track an index.

Effective June 30, 2025 Martin Currie Sustainable International Equity ETF changed its name to Franklin Sustainable International Equity ETF

2. FINANCIAL INSTRUMENT VALUATION

The Funds' investments in financial instruments are carried at fair value daily. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants on the measurement date. The Funds calculate the net asset value (NAV) per share as of 4 p.m. Eastern time each day the New York Stock Exchange (NYSE) is open for trading. Under compliance policies and procedures approved by the Trust's Board of Trustees (the Board), the Funds' administrator has responsibility for oversight of valuation, including leading the cross-functional Valuation Committee (VC).

The Funds may utilize independent pricing services, quotations from securities and financial instrument dealers, and other market sources to determine fair value.

Equity securities, exchange traded funds and derivative financial instruments listed on an exchange or on the NASDAQ National Market System are valued at the last quoted sale price or the official closing price of the day, respectively. Foreign equity securities are valued as of the close of trading on the foreign stock exchange on which the security is primarily traded or as of 4 p.m. Eastern time. The value is then converted into its U.S. dollar equivalent at the foreign exchange rate in effect at 4 p.m. London time on the day that the value of the security is determined. Over-the-counter (OTC) securities are valued within the range of the most recent quoted bid and ask prices. Securities that trade in multiple markets or on multiple exchanges are valued according to the broadest and most representative market. Certain equity securities are valued based upon fundamental characteristics or relationships to similar securities.

Debt securities generally trade in the OTC market rather than on a securities exchange. The Funds' pricing services use multiple valuation techniques to determine fair value. In instances where sufficient market activity exists, the pricing services may utilize a market-based approach through which quotes from market makers are used to determine fair value. In instances where sufficient market activity may not exist or is limited, the pricing services also utilize proprietary valuation models which may consider market

------

characteristics such as benchmark yield curves, credit spreads, estimated default rates, anticipated market interest rate volatility, coupon rates, anticipated timing of principal repayments, underlying collateral, and other unique security features in order to estimate the relevant cash flows, which are then discounted to calculate the fair value. Securities denominated in a foreign currency are converted into their U.S. dollar equivalent at the foreign exchange rate in effect at 4 p.m. London time on the date that the values of the foreign debt securities are determined, for all funds except the Franklin High Yield Corporate ETF, Franklin International Aggregate Bond ETF, Franklin Investment Grade Corporate ETF , Franklin Senior Loan ETF and Franklin U.S. Treasury Bond ETF which uses the foreign exchange rate in effect at 4 p.m. Eastern time.

Investments in open-end mutual funds are valued at the closing NAV.

Certain derivative financial instruments are centrally cleared or trade in the OTC market. The Funds' pricing services use various techniques including industry standard option pricing models and proprietary discounted cash flow models to determine the fair value of those instruments. The Funds' net benefit or obligation under the derivative contract, as measured by the fair value of the contract, is included in net assets.

The Funds have procedures to determine the fair value of financial instruments for which market prices are not reliable or readily available. Under these procedures, the Funds primarily employ a market-based approach which may use related or comparable assets or liabilities, recent transactions, market multiples, book values and other relevant information for the investment to determine the fair value of the investment. An income-based valuation approach may also be used in which the anticipated future cash flows of the investment are discounted to calculate fair value. Discounts may also be applied due to the nature or duration of any restrictions on the disposition of the investments. Due to the inherent uncertainty of valuations of such investments, the fair values may differ significantly from the values that would have been used had an active market existed.

Trading in securities on foreign securities stock exchanges and OTC markets may be completed before 4 p.m. Eastern time. In addition, trading in certain foreign markets may not take place on every Funds' business day. Occasionally, events occur between the time at which trading in a foreign security is completed and 4 p.m. Eastern time that might call into question the reliability of the value of a portfolio security held by the Fund. As a result, differences may arise between the value of the Funds' portfolio securities as determined at the foreign market close and the latest indications of value at 4 p.m. Eastern time. The VC monitors price movements for significant events following the close of trading in foreign stock markets through a series of country specific market proxies (such as baskets of American Depositary Receipts, futures contracts and exchange traded funds). These price movements are measured against established trigger thresholds for each specific market proxy to assist in determining if an event has occurred that may call into question the reliability of the values of the foreign securities held by the Funds. If such an event occurs, the securities may be valued using fair value procedures, which may include the use of independent pricing services.

When the last day of the reporting period is a non-business day, certain foreign markets may be open on those days that the Funds' NAV is not calculated, which could result in differences between the value of the Funds' portfolio securities on the last business day and the last calendar day of the reporting period. Any significant security valuation changes due to an open foreign market are adjusted and reflected by the Funds for financial reporting purposes.

3. INVESTMENTS IN AFFILIATED MANAGEMENT INVESTMENT COMPANIES

Certain or all Funds invest in one or more affiliated management investment companies. As defined in the 1940 Act, an investment is deemed to be a "Controlled Affiliate" of a fund when a fund owns, either directly or indirectly, 25% or more of the affiliated fund's outstanding shares or has the power to exercise control over management or policies of such fund. The Funds do not invest for purposes of exercising a controlling influence over the management or policies. During the period ended June 30, 2025, investments in affiliated management investment companies were as follows:

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Value at<br> Beginning<br> of Period** | **Purchases** | **Sales** | **Realized<br> Gain (Loss)** | **Net Change in<br> Unrealized<br> Appreciation<br> (Depreciation)** | **Value at<br> End of<br> Period** | **Number<br> of Shares<br> Held at<br> End of<br> Period** | **Investment<br> Income** |
| **Franklin Emerging Market Core<br> Dividend Tilt Index ETF<br> Non-Controlled Affiliates** |  |  |  |  |  |  |  | **Dividend<br> Income** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $158930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(158870) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $67 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $73 |
| **Franklin Exponential Data ETF<br> Non-Controlled Affiliates** |  |  |  |  |  |  |  | **Dividend<br> Income** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $56007 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $133165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(82887) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $106285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106285 | &nbsp;&nbsp;&nbsp;&nbsp;$1196 |
| **Franklin Focused Growth ETF<br> Non-Controlled Affiliates** |  |  |  |  |  |  |  | **Dividend<br> Income** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;$3386667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$918723 | &nbsp;&nbsp;&nbsp;&nbsp;$(4042940) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$262450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262450 | &nbsp;&nbsp;&nbsp;$(1504) |
| **Franklin FTSE Asia ex Japan ETF<br> Non-Controlled Affiliates** |  |  |  |  |  |  |  | **Dividend<br> Income** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$230853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(230754) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$181 |
|  |  |  |  |  |  |  |  | **Income<br> from<br> Securities<br> loaned** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6400 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(6400) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Affiliated Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$237253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(237154) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$181 |
| **Franklin FTSE Australia ETF<br> Non-Controlled Affiliates** |  |  |  |  |  |  |  | **Dividend<br> Income** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$40578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$892850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(933106) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$241 |
| **Franklin FTSE Brazil ETF<br> Non-Controlled Affiliates** |  |  |  |  |  |  |  | **Dividend<br> Income** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$48735 | &nbsp;&nbsp;&nbsp;$10351116 | &nbsp;&nbsp;&nbsp;$(10339200) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$60651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60651 | &nbsp;&nbsp;&nbsp;&nbsp;$4751 |

---

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Value at<br> Beginning<br> of Period** | **Purchases** | **Sales** | **Realized<br> Gain (Loss)** | **Net Change in<br> Unrealized<br> Appreciation<br> (Depreciation)** | **Value at<br> End of<br> Period** | **Number<br> of Shares<br> Held at<br> End of<br> Period** | **Investment<br> Income** |
| **Franklin FTSE Canada ETF<br> Non-Controlled Affiliates** |  |  |  |  |  |  |  | **Dividend<br> Income** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $78873 | &nbsp;&nbsp;&nbsp;&nbsp; $3915686 | &nbsp;&nbsp;&nbsp;&nbsp; $(3812213) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $182346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182346 | &nbsp;&nbsp;&nbsp;&nbsp;$2828 |
| **Franklin FTSE China ETF<br> Non-Controlled Affiliates** |  |  |  |  |  |  |  | **Dividend<br> Income** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $22311 | &nbsp;&nbsp;&nbsp;&nbsp; $3026095 | &nbsp;&nbsp;&nbsp;&nbsp; $(2798237) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $250169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250169 | &nbsp;&nbsp;&nbsp;&nbsp;$1442 |
|  |  |  |  |  |  |  |  | **Income<br> from<br> Securities<br> loaned** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$29700 | &nbsp;&nbsp;&nbsp;&nbsp;$1146524 | &nbsp;&nbsp;&nbsp;&nbsp;$(1004624) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$171600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171600 | &nbsp;&nbsp;&nbsp;&nbsp;$1080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Affiliated Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$52011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4172619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(3802861) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$421769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;421769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2522 |
| **Franklin FTSE Europe ETF<br> Non-Controlled Affiliates** |  |  |  |  |  |  |  | **Dividend<br> Income** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$46800 | &nbsp;&nbsp;&nbsp;&nbsp;$2313305 | &nbsp;&nbsp;&nbsp;&nbsp;$(2355909) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4196 | &nbsp;&nbsp;&nbsp;&nbsp;$1499 |
| **Franklin FTSE Eurozone ETF<br> Non-Controlled Affiliates** |  |  |  |  |  |  |  | **Dividend<br> Income** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$582742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(584426) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$329 |
| **Franklin FTSE Germany ETF<br> Non-Controlled Affiliates** |  |  |  |  |  |  |  | **Dividend<br> Income** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$1005447 | &nbsp;&nbsp;&nbsp;&nbsp;$(1001872) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$460 |
| **Franklin FTSE Hong Kong ETF<br> Non-Controlled Affiliates** |  |  |  |  |  |  |  | **Dividend<br> Income** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$17904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(17876) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$54 |

---

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Value at<br> Beginning<br> of Period** | **Purchases** | **Sales** | **Realized<br> Gain (Loss)** | **Net Change in<br> Unrealized<br> Appreciation<br> (Depreciation)** | **Value at<br> End of<br> Period** | **Number<br> of Shares<br> Held at<br> End of<br> Period** | **Investment<br> Income** |
| **Franklin FTSE India ETF<br> Non-Controlled Affiliates** |  |  |  |  |  |  |  | **Dividend<br> Income** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;$14580819 | &nbsp;&nbsp;&nbsp;$159767863 | &nbsp;&nbsp;&nbsp;$(174322199) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $26483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26483 | &nbsp;&nbsp;&nbsp;$99618 |
| **Franklin FTSE Japan ETF<br> Non-Controlled Affiliates** |  |  |  |  |  |  |  | **Dividend<br> Income** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;&nbsp; $144665 | &nbsp;&nbsp;&nbsp; $20193653 | &nbsp;&nbsp;&nbsp; $(19829701) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $508617 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;508617 | &nbsp;&nbsp;&nbsp;$10502 |
|  |  |  |  |  |  |  |  | **Income<br> from<br> Securities<br> loaned** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;$1489374 | &nbsp;&nbsp;&nbsp;&nbsp;$7575100 | &nbsp;&nbsp;&nbsp;&nbsp;$(6206050) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;$2858424 | &nbsp;&nbsp;&nbsp;&nbsp;2858424 | &nbsp;&nbsp;&nbsp;&nbsp;$1175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Affiliated Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1634039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$27768753 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(26035751) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3367041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3367041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11677 |
| **Franklin FTSE Japan Hedged ETF<br> Non-Controlled Affiliates** |  |  |  |  |  |  |  | **Dividend<br> Income** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;&nbsp;$438852 | &nbsp;&nbsp;&nbsp;&nbsp;$2202088 | &nbsp;&nbsp;&nbsp;&nbsp;$(2561635) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$79305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79305 | &nbsp;&nbsp;&nbsp;&nbsp;$1663 |
| **Franklin FTSE Latin America ETF<br> Non-Controlled Affiliates** |  |  |  |  |  |  |  | **Dividend<br> Income** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$18048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$896322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(906509) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7861 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7861 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$428 |
|  |  |  |  |  |  |  |  | **Income<br> from<br> Securities<br> loaned** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$34414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$282193 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(270722) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$45885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45885 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$283 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Affiliated Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$52462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1178515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(1177231) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$53746 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53746 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$711 |

---

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Value at<br> Beginning<br> of Period** | **Purchases** | **Sales** | **Realized<br> Gain (Loss)** | **Net Change in<br> Unrealized<br> Appreciation<br> (Depreciation)** | **Value at<br> End of<br> Period** | **Number<br> of Shares<br> Held at<br> End of<br> Period** | **Investment<br> Income** |
| **Franklin FTSE Mexico ETF<br> Non-Controlled Affiliates** |  |  |  |  |  |  |  | **Dividend<br> Income** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $1 | &nbsp;&nbsp;&nbsp;&nbsp; $1036687 | &nbsp;&nbsp;&nbsp;&nbsp; $(1033600) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $3088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $374 |
|  |  |  |  |  |  |  |  | **Income<br> from<br> Securities<br> loaned** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;&nbsp; $175005 | &nbsp;&nbsp;&nbsp;&nbsp; $1435041 | &nbsp;&nbsp;&nbsp;&nbsp; $(1376706) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $233340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233340 | &nbsp;&nbsp;&nbsp;&nbsp;$1439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Affiliated Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$175006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2471728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(2410306) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$236428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1813 |
| **Franklin FTSE Saudi Arabia ETF<br> Non-Controlled Affiliates** |  |  |  |  |  |  |  | **Dividend<br> Income** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$449423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(449267) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$157 |
| **Franklin FTSE South Korea ETF<br> Non-Controlled Affiliates** |  |  |  |  |  |  |  | **Dividend<br> Income** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$37 | &nbsp;&nbsp;&nbsp;&nbsp;$4502648 | &nbsp;&nbsp;&nbsp;&nbsp;$(4501970) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;715 | &nbsp;&nbsp;&nbsp;&nbsp;$1987 |
| **Franklin FTSE Switzerland ETF<br> Non-Controlled Affiliates** |  |  |  |  |  |  |  | **Dividend<br> Income** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2258 | &nbsp;&nbsp;&nbsp;&nbsp;$1104375 | &nbsp;&nbsp;&nbsp;&nbsp;$(1106248) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$395 |
| **Franklin FTSE Taiwan ETF<br> Non-Controlled Affiliates** |  |  |  |  |  |  |  | **Dividend<br> Income** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;&nbsp;$224256 | &nbsp;&nbsp;&nbsp;&nbsp;$1617359 | &nbsp;&nbsp;&nbsp;&nbsp;$(1838275) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3340 | &nbsp;&nbsp;&nbsp;&nbsp;$1341 |
| **Franklin FTSE United Kingdom ETF<br> Non-Controlled Affiliates** |  |  |  |  |  |  |  | **Dividend<br> Income** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;&nbsp;$489625 | &nbsp;&nbsp;&nbsp;$15542478 | &nbsp;&nbsp;&nbsp;$(15954682) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$77421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77421 | &nbsp;&nbsp;&nbsp;&nbsp;$4966 |

---

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Value at<br> Beginning<br> of Period** | **Purchases** | **Sales** | **Realized<br> Gain (Loss)** | **Net Change in<br> Unrealized<br> Appreciation<br> (Depreciation)** | **Value at<br> End of<br> Period** | **Number<br> of Shares<br> Held at<br> End of<br> Period** | **Investment<br> Income** |
| **Franklin Income Focus ETF<br> Non-Controlled Affiliates** |  |  |  |  |  |  |  | **Dividend<br> Income** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;$16115318 | &nbsp;&nbsp;&nbsp; $68278310 | &nbsp;&nbsp;&nbsp; $(66191414) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;$18202214 | &nbsp;&nbsp;&nbsp;18202214 | &nbsp;&nbsp;&nbsp;$184786 |
| **Franklin International Core<br> Dividend Tilt Index ETF<br> Non-Controlled Affiliates** |  |  |  |  |  |  |  | **Dividend<br> Income** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;&nbsp; $441748 | &nbsp;&nbsp;&nbsp; $23609388 | &nbsp;&nbsp;&nbsp; $(24041865) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $9271 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9271 | &nbsp;&nbsp;&nbsp;$16928 |
|  |  |  |  |  |  |  |  | **Income<br> from<br> Securities<br> loaned** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;$3560250 | &nbsp;&nbsp;&nbsp;$45364340 | &nbsp;&nbsp;&nbsp;$(43074240) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;$5850350 | &nbsp;&nbsp;&nbsp;&nbsp;5850350 | &nbsp;&nbsp;&nbsp;&nbsp;$9299 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Affiliated Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4001998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$68973728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(67116105) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5859621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5859621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$26227 |
| **Franklin International Dividend<br> Multiplier Index ETF<br> Non-Controlled Affiliates** |  |  |  |  |  |  |  | **Dividend<br> Income** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$13 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$145667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(133505) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$127 |
| **Franklin Senior Loan ETF<br> Non-Controlled Affiliates** |  |  |  |  |  |  |  | **Dividend<br> Income** |
| Franklin High Yield Corporate ETF | &nbsp;&nbsp;&nbsp;$7052870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;$153902 | &nbsp;&nbsp;&nbsp;$7206772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295966 | &nbsp;&nbsp;&nbsp;$123123 |
| **Franklin U.S. Core Bond ETF<br> Non-Controlled Affiliates** |  |  |  |  |  |  |  | **Dividend<br> Income** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;$26518552 | &nbsp;&nbsp;&nbsp;$122545411 | &nbsp;&nbsp;&nbsp;$(124109643) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;$24954320 | &nbsp;&nbsp;&nbsp;24954320 | &nbsp;&nbsp;&nbsp;$296757 |
| **Franklin U.S. Core Dividend<br> Tilt Index ETF<br> Non-Controlled Affiliates** |  |  |  |  |  |  |  | **Dividend<br> Income** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$34773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$439280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(404090) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$69963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$672 |

---

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Value at<br> Beginning<br> of Period** | **Purchases** | **Sales** | **Realized<br> Gain (Loss)** | **Net Change in<br> Unrealized<br> Appreciation<br> (Depreciation)** | **Value at<br> End of<br> Period** | **Number<br> of Shares<br> Held at<br> End of<br> Period** | **Investment<br> Income** |
| **Franklin U.S. Equity Index ETF<br> Non-Controlled Affiliates** |  |  |  |  |  |  |  | **Dividend<br> Income** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp; $1318013 | &nbsp;&nbsp;&nbsp;&nbsp; $5288012 | &nbsp;&nbsp;&nbsp;&nbsp; $(5729320) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $876705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;876705 | &nbsp;&nbsp;&nbsp;$14633 |
|  |  |  |  |  |  |  |  | **Income<br> from<br> Securities<br> loaned** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $385000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(385000) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Affiliated Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1318013 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5673012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(6114320) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$876705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;876705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$14633 |
| **Franklin U.S. Dividend<br> Multiplier Index ETF<br> Non-Controlled Affiliates** |  |  |  |  |  |  |  | **Dividend<br> Income** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2958 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$88863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(53834) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$37987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$296 |
| **Franklin U.S. Large Cap<br> Multifactor Index ETF<br> Non-Controlled Affiliates** |  |  |  |  |  |  |  | **Dividend<br> Income** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;&nbsp;$401882 | &nbsp;&nbsp;&nbsp;$12901544 | &nbsp;&nbsp;&nbsp;&nbsp;$(3975019) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;$9328407 | &nbsp;&nbsp;&nbsp;&nbsp;9328407 | &nbsp;&nbsp;&nbsp;$33367 |
|  |  |  |  |  |  |  |  | **Income<br> from<br> Securities<br> loaned** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;&nbsp;$796250 | &nbsp;&nbsp;&nbsp;$12959654 | &nbsp;&nbsp;&nbsp;&nbsp;$(8734409) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;$5021495 | &nbsp;&nbsp;&nbsp;&nbsp;5021495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Affiliated Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1198132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$25861198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(12709428) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$14349902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14349902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$34218 |

---

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Value at<br> Beginning<br> of Period** | **Purchases** | **Sales** | **Realized<br> Gain (Loss)** | **Net Change in<br> Unrealized<br> Appreciation<br> (Depreciation)** | **Value at<br> End of<br> Period** | **Number<br> of Shares<br> Held at<br> End of<br> Period** | **Investment<br> Income** |
| **Franklin U.S. Mid Cap<br> Multifactor Index ETF<br> Non-Controlled Affiliates** |  |  |  |  |  |  |  | **Dividend<br> Income** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp; $1731422 | &nbsp;&nbsp;&nbsp; $13550580 | &nbsp;&nbsp;&nbsp;&nbsp; $(4636174) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;$10645828 | &nbsp;&nbsp;&nbsp;10645828 | &nbsp;&nbsp;&nbsp;$35156 |
|  |  |  |  |  |  |  |  | **Income<br> from<br> Securities<br> loaned** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;&nbsp; $490875 | &nbsp;&nbsp;&nbsp; $28534495 | &nbsp;&nbsp;&nbsp; $(23782595) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $5242775 | &nbsp;&nbsp;&nbsp;&nbsp;5242775 | &nbsp;&nbsp;&nbsp;&nbsp;$3993 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Affiliated Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2222297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$42085075 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(28418769) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$15888603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15888603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$39149 |
| **Franklin U.S. Small Cap<br> Multifactor Index ETF<br> Non-Controlled Affiliates** |  |  |  |  |  |  |  | **Dividend<br> Income** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$473541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(193104) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$280595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280595 | &nbsp;&nbsp;&nbsp;&nbsp;$1005 |
|  |  |  |  |  |  |  |  | **Income<br> from<br> Securities<br> loaned** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7400 | &nbsp;&nbsp;&nbsp;&nbsp;$2814228 | &nbsp;&nbsp;&nbsp;&nbsp;$(1813583) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;$1008045 | &nbsp;&nbsp;&nbsp;&nbsp;1008045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Affiliated Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3287769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(2006687) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1288640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1288640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1300 |
| **Franklin U.S. Treasury Bond ETF<br> Non-Controlled Affiliates** |  |  |  |  |  |  |  | **Dividend<br> Income** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;$15120922 | &nbsp;&nbsp;&nbsp;$46082146 | &nbsp;&nbsp;&nbsp;$(46359903) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;$14843165 | &nbsp;&nbsp;&nbsp;14843165 | &nbsp;&nbsp;&nbsp;$150268 |
| **Franklin Ultra Short Bond ETF<br> Non-Controlled Affiliates** |  |  |  |  |  |  |  | **Dividend<br> Income** |
| Institutional Fiduciary Trust - Money Market Portfolio, 4.33% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1259 | &nbsp;&nbsp;&nbsp;$30319480 | &nbsp;&nbsp;&nbsp;$(30318718) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | &nbsp;&nbsp;&nbsp;&nbsp;$6368 |

---

4. Securities Purchased on a Forward Commitment Basis

Certain or all Funds may purchase securities on a forward commitment basis, with payment and delivery scheduled for a future date. These transactions are subject to market fluctuations and are subject to the risk that the value at delivery may be more or less than the trade date purchase price. Although the Funds will generally purchase these securities with the intention of holding the securities, they may sell the securities

------

before the settlement date. These types of securities may be considered unfunded and the Fund may be obligated to perform on such agreements at a future date.

At June 30, 2025, unfunded commitments were as follows:

---

| | |
|:---|:---|
| **Borrower** | &nbsp;&nbsp;&nbsp;&nbsp;**Unfunded<br> Commitment** |
| **Franklin Senior Loan ETF** | **Franklin Senior Loan ETF** |
| Air Comm Corp. LLC, 1.000%, due 12/11/2031 | &nbsp;&nbsp;&nbsp;&nbsp;$319594 |
| Clydesdale Acquisition Holdings, Inc., 7.577%, due 4/01/2032 | &nbsp;&nbsp;&nbsp;&nbsp;$105221 |
| Janney Montgomery Scott LLC, 3.250%, due 11/28/2031 | &nbsp;&nbsp;&nbsp;&nbsp;$269959 |
| Raven Acquisition Holdings LLC, 3.250%, due 11/19/2031 | &nbsp;&nbsp;&nbsp;&nbsp;$260097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | &nbsp;&nbsp;&nbsp;&nbsp;$954871 |

---

5. FAIR VALUE MEASUREMENTS

The Funds follow a fair value hierarchy that distinguishes between market data obtained from independent sources (observable inputs) and the Funds' own market assumptions (unobservable inputs). These inputs are used in determining the value of the Funds' financial instruments and are summarized in the following fair value hierarchy:

• Level 1 – quoted prices in active markets for identical financial instruments

• Level 2 – other significant observable inputs (including quoted prices for similar financial instruments, interest rates, prepayment speed, credit risk, etc.)

• Level 3 – significant unobservable inputs (including the Funds' own assumptions in determining the fair value of financial instruments)

The input levels are not necessarily an indication of the risk or liquidity associated with financial instruments at that level.

A summary of inputs used as of June 30, 2025, in valuing the Funds' assets and liabilities carried at fair value, is as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;&nbsp;&nbsp;**Level 1** | &nbsp;&nbsp;&nbsp;&nbsp;**Level 2** | &nbsp;&nbsp;&nbsp;&nbsp;**Level 3** | &nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| **BrandywineGLOBAL - Dynamic US Large Cap Value ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;$114136921 | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$114136921 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1232276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1232276 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$115369197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$115369197 |
| **BrandywineGLOBAL - U.S. Fixed Income ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate Bonds & Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1034496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1034496 |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Government & Agency Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10535220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10535220 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346664 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$346664 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11569716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11916380 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$120997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$120997 |
| **ClearBridge Sustainable Infrastructure ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11792677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11792677 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185198 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11977875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$11977875 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;&nbsp;&nbsp;**Level 1** | &nbsp;&nbsp;&nbsp;&nbsp;**Level 2** | &nbsp;&nbsp;&nbsp;&nbsp;**Level 3** | &nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| **Franklin Disruptive Commerce ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;$8147638 | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$8147638 |
| **Franklin Dynamic Municipal Bond ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate Bonds & Notes | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$7292728 | &nbsp;&nbsp;&nbsp;&nbsp;$89627 | &nbsp;&nbsp;&nbsp;&nbsp;$7382355 |
| &nbsp;&nbsp;&nbsp;&nbsp;Municipal Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;729105062 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;729105064 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$736397790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$89629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$736487419 |
| **Franklin Emerging Market Core Dividend Tilt Index ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$17761059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$—<sup>c</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$17761059 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$17761126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$17761126 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2286 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2286 |
| **Franklin Exponential Data ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3983607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3983607 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106285 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4089892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4089892 |
| **Franklin Focused Growth ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;$149095700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$149095700 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262450 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$149358150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$149358150 |
| **Franklin FTSE Asia ex Japan ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$31368497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$17369<sup>c</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$31385866 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$31368635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$17369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$31386004 |
| **Franklin FTSE Australia ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$63294859 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$63294859 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$63295181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$63295181 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$719 |
| **Franklin FTSE Brazil ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;$207694476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$207694476 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60651 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$207755127 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$207755127 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$40939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$40939 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;&nbsp;&nbsp;**Level 1** | &nbsp;&nbsp;&nbsp;&nbsp;**Level 2** | &nbsp;&nbsp;&nbsp;&nbsp;**Level 3** | &nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| **Franklin FTSE Canada ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;$434876332 | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$—<sup>c</sup> | &nbsp;&nbsp;&nbsp;&nbsp;$434876332 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 182346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1335288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1517634 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$435058678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1335288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$436393966 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;$23413 | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$23413 |
| **Franklin FTSE China ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;$196384816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$7057<sup>c</sup> | &nbsp;&nbsp;&nbsp;&nbsp;$196391873 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;421769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;421769 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$196806585 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$196813642 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9859 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9859 |
| **Franklin FTSE Europe ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;$113552143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$—<sup>c</sup> | &nbsp;&nbsp;&nbsp;&nbsp;$113552143 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4196 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$113556339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$113556339 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2881 |
| **Franklin FTSE Eurozone ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$42868493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$—<sup>c</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$42868493 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$42868734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$42868734 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$383 |
| **Franklin FTSE Germany ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$63112357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$63112357 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3575 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$63115932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$63115932 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1495 |
| **Franklin FTSE Hong Kong ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$29 |
| **Franklin FTSE India ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;$2420500793 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$2420500793 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26483 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;$2420527276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$2420527276 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;&nbsp;&nbsp;**Level 1** | &nbsp;&nbsp;&nbsp;&nbsp;**Level 2** | &nbsp;&nbsp;&nbsp;&nbsp;**Level 3** | &nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| **Franklin FTSE India ETF (continued)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;$284531 | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$284531 |
| **Franklin FTSE Japan ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;$2146210179 | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$668301 | &nbsp;&nbsp;&nbsp;&nbsp;$2146878480 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3367041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3367041 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;$2149577220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$668301 | &nbsp;&nbsp;&nbsp;&nbsp;$2150245521 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$298986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$298986 |
| **Franklin FTSE Japan Hedged ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$86639105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$31267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$86670372 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79305 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79305 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$86718410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$31267 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$86749677 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Forward Exchange Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$393563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$393563 |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21637 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Other Financial Instruments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$21637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$393563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$415200 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Forward Exchange Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1721 |
| **Franklin FTSE Latin America ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$34020350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$34020350 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53746 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53746 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$34074096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$34074096 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3754 |
| **Franklin FTSE Mexico ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$55894753 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$55894753 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236428 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$56131181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$56131181 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$73 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$73 |
| **Franklin FTSE Russia ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$—<sup>c</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— |
| **Franklin FTSE Saudi Arabia ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$18023449 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$18023449 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$18023606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$18023606 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;&nbsp;&nbsp;**Level 1** | &nbsp;&nbsp;&nbsp;&nbsp;**Level 2** | &nbsp;&nbsp;&nbsp;&nbsp;**Level 3** | &nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| **Franklin FTSE South Korea ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;$163027030 | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$163027030 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 715 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$163027745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$163027745 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;$16891 | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$16891 |
| **Franklin FTSE Switzerland ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$51692133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$51692133 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;385 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$51692518 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$51692518 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12587 |
| **Franklin FTSE Taiwan ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;$535568001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$535568001 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3340 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$535571341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$535571341 |
| **Franklin FTSE United Kingdom ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;$781104089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$—<sup>c</sup> | &nbsp;&nbsp;&nbsp;&nbsp;$781104089 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77421 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77421 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$781181510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$781181510 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$59682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$59682 |
| **Franklin Genomic Advancements ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10719211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$—<sup>c</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$10719211 |
| **Franklin High Yield Corporate ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate Bonds & Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$609702124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$—<sup>c</sup> | &nbsp;&nbsp;&nbsp;&nbsp;$609702124 |
| &nbsp;&nbsp;&nbsp;&nbsp;Senior Floating Rate Interests | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5433682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; —<sup>c</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5433682 |
| &nbsp;&nbsp;&nbsp;&nbsp;Municipal Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1600945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1600945 |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;872472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;872472 |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Government & Agency Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10998729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10998729 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$872472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$627735480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$628607952 |
| **Franklin Income Equity Focus ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity-Linked Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$35709549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$35709549 |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54997461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54997461 |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Government & Agency Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;939891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;939891 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$54997461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$36649440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$91646901 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;&nbsp;&nbsp;**Level 1** | &nbsp;&nbsp;&nbsp;&nbsp;**Level 2** | &nbsp;&nbsp;&nbsp;&nbsp;**Level 3** | &nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| **Franklin Income Focus ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate Bonds & Notes | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$203819393 | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$203819393 |
| &nbsp;&nbsp;&nbsp;&nbsp;Senior Floating Rate Interests | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2109563 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2109563 |
| &nbsp;&nbsp;&nbsp;&nbsp;Convertible Bond | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 705250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 705250 |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity-Linked Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 108109094 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 108109094 |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 259327549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 259327549 |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Government & Agency Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87869111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87869111 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18202214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18202214 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$277529763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$402612411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$680142174 |
| **Franklin International Aggregate Bond ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Foreign Government and Agency Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$636860135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$636860135 |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate Bonds & Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14670828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14670828 |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Government & Agency Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23997227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23997227 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$675528190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$675528190 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Forward Exchange Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2555352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2555352 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Forward Exchange Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12867771 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12867771 |
| **Franklin International Core Dividend Tilt Index ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;$1566522623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$1566522623 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5859621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5859621 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;$1572382244 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$1572382244 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$107465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$107465 |
| **Franklin International Dividend Multiplier Index ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$24280126 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$24280126 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12175 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$24292301 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$24292301 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$973 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$973 |
| **Franklin Intelligent Machines ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$33418593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$—<sup>c</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$33418593 |
| **Franklin Investment Grade Corporate ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate Bonds & Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$580641269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$580641269 |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Government & Agency Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17519163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17519163 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$598160432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$598160432 |
| **Franklin Municipal Green Bond ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Municipal Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$96735340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$96735340 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;&nbsp;&nbsp;**Level 1** | &nbsp;&nbsp;&nbsp;&nbsp;**Level 2** | &nbsp;&nbsp;&nbsp;&nbsp;**Level 3** | &nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| **Franklin Senior Loan ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate Bonds & Notes | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$37338234 | &nbsp;&nbsp;&nbsp;&nbsp;$—<sup>c</sup> | &nbsp;&nbsp;&nbsp;&nbsp;$37338234 |
| &nbsp;&nbsp;&nbsp;&nbsp;Senior Floating Rate Interests | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 941946780 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 941946780 |
| &nbsp;&nbsp;&nbsp;&nbsp;Asset-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2010121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2010121 |
| &nbsp;&nbsp;&nbsp;&nbsp;Exchange-Traded Funds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27310782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27310782 |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 297701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 297701 |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Government & Agency Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75821237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75821237 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$27608483 | &nbsp;&nbsp;&nbsp;&nbsp;$1057116372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$1084724855 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Unfunded Loan Commitments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3116 |
| **Franklin Sustainable International Equity ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$30654928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$30654928 |
| **Franklin Systematic Style Premia ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;$236966485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$—<sup>c</sup> | &nbsp;&nbsp;&nbsp;&nbsp;$236966485 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81701982 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81701982 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$318668467 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$318668467 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Forward Exchange Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1094822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1094822 |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2476128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2476128 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Other Financial Instruments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2476128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1094822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3570950 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Forward Exchange Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2928385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2928385 |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2475672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2475672 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Return Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2789582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2789582 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Other Financial Instruments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2475672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5717967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8193639 |
| **Franklin U.S. Core Bond ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate Bonds & Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$748459430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$748459430 |
| &nbsp;&nbsp;&nbsp;&nbsp;Municipal Bonds | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17612500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17612500 |
| &nbsp;&nbsp;&nbsp;&nbsp;Asset-Backed Security | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6289432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6289432 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37158308 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37158308 |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Government & Agency Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1757945165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1757945165 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24954320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24954320 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$24954320 | &nbsp;&nbsp;&nbsp;&nbsp;$2567464835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$2592419155 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1612051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1612051 |
| **Franklin U.S. Core Dividend Tilt Index ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$62493056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$—<sup>c</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$62493056 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69963 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$62563019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$62563019 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3313 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;&nbsp;&nbsp;**Level 1** | &nbsp;&nbsp;&nbsp;&nbsp;**Level 2** | &nbsp;&nbsp;&nbsp;&nbsp;**Level 3** | &nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| **Franklin U.S. Equity Index ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;$1261798182 | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$—<sup>c</sup> | &nbsp;&nbsp;&nbsp;&nbsp;$1261798182 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 876705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 876705 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;$1262674887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$1262674887 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;$33144 | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$33144 |
| **Franklin U.S. Dividend Multiplier Index ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$34196379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$34196379 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37987 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$34234366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$34234366 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$4743 |
| **Franklin U.S. Large Cap Multifactor Index ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;$1513500701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$1513500701 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14349902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14349902 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;$1527850603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$1527850603 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$92365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$92365 |
| **Franklin U.S. Mid Cap Multifactor Index ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;$1668432012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$1668432012 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15888603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15888603 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;$1684320615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$1684320615 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$113256 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$113256 |
| **Franklin U.S. Small Cap Multifactor Index ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$46984838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$46984838 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1288640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1288640 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$48273478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$48273478 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$3565 |
| **Franklin U.S. Treasury Bond ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Government & Agency Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$1006126748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$1006126748 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14843165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14843165 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$14843165 | &nbsp;&nbsp;&nbsp;&nbsp;$1006126748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$1020969913 |
| **Franklin Ultra Short Bond ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate Bonds & Notes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$121086853 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$121086853 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28310782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28312803 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$149397635 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$149399656 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;&nbsp;&nbsp;**Level 1** | &nbsp;&nbsp;&nbsp;&nbsp;**Level 2** | &nbsp;&nbsp;&nbsp;&nbsp;**Level 3** | &nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| **Western Asset Bond ETF** |  |  |  |  |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments in Securities:<sup>a</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate Bonds & Notes | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$6200329 | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$6200329 |
| &nbsp;&nbsp;&nbsp;&nbsp;Senior Floating Rate Interests | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57710 |
| &nbsp;&nbsp;&nbsp;&nbsp;Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 101268 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 101268 |
| &nbsp;&nbsp;&nbsp;&nbsp;Foreign Government and Agency Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 189140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 189140 |
| &nbsp;&nbsp;&nbsp;&nbsp;Asset-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2122769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2122769 |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;308975 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;308975 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial Mortgage-Backed Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1806474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1806474 |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity Investments<sup>b</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1752 |
| &nbsp;&nbsp;&nbsp;&nbsp;Call Options Purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20794 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20794 |
| &nbsp;&nbsp;&nbsp;&nbsp;Put Options Purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1731 |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Government & Agency Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7402506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7402506 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;408626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;408626 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Investments in Securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$432903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$18189171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$18622074 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$108117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$108117 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest Rate Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7378 |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit Default Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5360 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Other Financial Instruments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$108117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$12738 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$120855 |
| **Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$31022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$31022 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest Rate Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19658 |
| &nbsp;&nbsp;&nbsp;&nbsp;Call Options Written (Exchange Traded) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2164 |
| &nbsp;&nbsp;&nbsp;&nbsp;Put Options Written (Exchange Traded) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;550 |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit Default Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1506 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Other Financial Instruments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$33736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$21164 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$54900 |

---

<sup>a</sup>For detailed categories, see the accompanying Schedules of Investments. <br> <sup>b</sup>Includes common and preferred stocks, warrants, as well as other equity investments. <br> <sup>c</sup>Includes securities determined to have no value at June 30, 2025.

6. INVESTMENTS IN FLSP HOLDINGS CORPORATION

Franklin Systematic Style Premia ETF, (the "Fund"), invests in certain financial instruments and commodities/or commodity-linked derivative investments. The FLSP Holdings Corporation is a Cayman Islands exempted company with limited liability, is a wholly-owned subsidiary of the Fund, and is able to invest in certain financial instruments and/or commodity-linked derivative investments consistent with the investment objective of the Fund. At June 30, 2025, the Franklin Systematic Style Premia ETF investment(s) FLSP Holdings Corporation is reflected in the Fund's Consolidated Statement of Investments. At June 30, 2025, the net assets of the FLSP Holdings Corporation were $8,134,482 representing 2.37% of the Fund's consolidated net assets. The Fund's investment(s) in the FLSP Holdings Corporation is limited to 25% of consolidated assets.

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Franklin Templeton ETF Trust

- **b. Investment Company Act file number:** 811-23124

- **c. CIK number of Registrant:** 0001655589

- **d. LEI of Registrant:** 549300UHXVPT5S43XV04

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** ONE FRANKLIN PARKWAY

  - **City:** SAN MATEO

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 94403

  - **Telephone number:** 650-312-2000

**Item A.2. Information about the Series.**

- **a. Name of Series:** Franklin FTSE Japan Hedged ETF

- **b. EDGAR series identifier (if any):** S000059496

- **c. LEI of Series:** 5493000IM51UNM0ZOH37

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $87508115.99

**Total Liabilities:** $6382.96

**Net Assets:** $87501733.03

**Cash Not Reported:** $952604.45

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000194930 | 0.56%                | 5.38%                | 2.32%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-39414.13               | $4390755.05                                |
| Month 2  | $313047.21               | $2729300.23                                |
| Month 3  | $-109826.02              | $1630604.89                                |

**Designated Index Information**

- **Index Name:** FTFTCRJPNUSDHDG

- **Index Identifier:** FTFTCRJPNUSDHDG

### Schedule of Portfolio Investments

| Name                                                   | Title                                                  | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Nagoya Railroad Co Ltd                                 | Nagoya Railroad Co Ltd                                 | CUSIP: 000000000<br>LEI: 353800P62OOYUY3I8T51 | Long             | EC               | CORP              | JP        |      2700 | NS      | $30477.69     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Fujitec Co Ltd                                         | Fujitec Co Ltd                                         | CUSIP: 000000000<br>LEI: 353800YTI2P5MIZAV086 | Long             | EC               | CORP              | JP        |      1350 | NS      | $57927.24     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokyu Corp                                             | Tokyu Corp                                             | CUSIP: 000000000<br>LEI: 3538005PGNIBTZYXAE45 | Long             | EC               | CORP              | JP        |      8100 | NS      | $96115.48     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Nankai Electric Railway Co Ltd                         | Nankai Electric Railway Co Ltd                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      2700 | NS      | $40749.07     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Cosmo Energy Holdings Co Ltd                           | Cosmo Energy Holdings Co Ltd                           | CUSIP: 000000000<br>LEI: 353800Y4GZ7KR5X7L150 | Long             | EC               | CORP              | JP        |      1152 | NS      | $49263.76     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Konica Minolta Inc                                     | Konica Minolta Inc                                     | CUSIP: 000000000<br>LEI: 549300SVK6KRUOL1A740 | Long             | EC               | CORP              | JP        |      8100 | NS      | $26311.19     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| EXEO Group Inc                                         | EXEO Group Inc                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      2716 | NS      | $34522.32     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Fuyo General Lease Co Ltd                              | Fuyo General Lease Co Ltd                              | CUSIP: 000000000<br>LEI: 353800IE82QJT7UQJK58 | Long             | EC               | CORP              | JP        |       972 | NS      | $26243.90     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Kusuri no Aoki Holdings Co Ltd                         | Kusuri no Aoki Holdings Co Ltd                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       924 | NS      | $23227.14     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ZOZO Inc                                               | ZOZO Inc                                               | CUSIP: 000000000<br>LEI: 549300GC7XPQMZA0OW13 | Long             | EC               | CORP              | JP        |      8100 | NS      | $87311.43     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Square Enix Holdings Co Ltd                            | Square Enix Holdings Co Ltd                            | CUSIP: 000000000<br>LEI: 529900KCRNRDF8DIA489 | Long             | EC               | CORP              | JP        |      1407 | NS      | $105151.20    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Nagase & Co Ltd                                        | Nagase & Co Ltd                                        | CUSIP: 000000000<br>LEI: 353800VMIQIB0LSK1Q36 | Long             | EC               | CORP              | JP        |      1798 | NS      | $34598.23     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Mazda Motor Corp                                       | Mazda Motor Corp                                       | CUSIP: 000000000<br>LEI: 52990044YZJLICDQKK92 | Long             | EC               | CORP              | JP        |     10800 | NS      | $65004.12     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Daiwa Securities Living Investments Corp               | Daiwa Securities Living Investments Corp               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | JP        |        27 | NS      | $17869.78     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Amano Corp                                             | Amano Corp                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1057 | NS      | $32812.41     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Aozora Bank Ltd                                        | Aozora Bank Ltd                                        | CUSIP: 000000000<br>LEI: X0XUGKC9FD2CYUQNC010 | Long             | EC               | CORP              | JP        |      2700 | NS      | $40412.61     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Takashimaya Co Ltd                                     | Takashimaya Co Ltd                                     | CUSIP: 000000000<br>LEI: 353800IFO566STDN4V78 | Long             | EC               | CORP              | JP        |      5400 | NS      | $42188.38     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Sankyu Inc                                             | Sankyu Inc                                             | CUSIP: 000000000<br>LEI: 529900QWTXZZEM1T5G75 | Long             | EC               | CORP              | JP        |       813 | NS      | $43519.10     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Seiko Epson Corp                                       | Seiko Epson Corp                                       | CUSIP: 000000000<br>LEI: 549300NIOFQDR749W206 | Long             | EC               | CORP              | JP        |      5400 | NS      | $71516.49     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| ITOCHU Corp                                            | ITOCHU Corp                                            | CUSIP: 000000000<br>LEI: J48DJYXDTLHM30UMYI18 | Long             | EC               | CORP              | JP        |     20786 | NS      | $1087327.47   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| SoftBank Corp                                          | SoftBank Corp                                          | CUSIP: 000000000<br>LEI: 353800M1YCTS9JRBJ535 | Long             | EC               | CORP              | JP        |    499500 | NS      | $771148.19    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Kandenko Co Ltd                                        | Kandenko Co Ltd                                        | CUSIP: 000000000<br>LEI: 35380080NSN7GCYZ3X14 | Long             | EC               | CORP              | JP        |      1574 | NS      | $36319.30     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi Materials Corp                              | Mitsubishi Materials Corp                              | CUSIP: 000000000<br>LEI: 35380076QOBOSOUBRT89 | Long             | EC               | CORP              | JP        |      2700 | NS      | $42627.64     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| AEON REIT Investment Corp                              | AEON REIT Investment Corp                              | CUSIP: 000000000<br>LEI: 353800P59F8MJB4FE788 | Long             | EC               |  | JP        |        27 | NS      | $23701.75     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| SMC Corp                                               | SMC Corp                                               | CUSIP: 000000000<br>LEI: 353800O40V08DOZ70X62 | Long             | EC               | CORP              | JP        |       940 | NS      | $338659.01    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Orix JREIT Inc                                         | Orix JREIT Inc                                         | CUSIP: 000000000<br>LEI: 353800WVNTBIU65TA247 | Long             | EC               |  | JP        |        54 | NS      | $70208.04     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Rubber Industries Ltd                         | Sumitomo Rubber Industries Ltd                         | CUSIP: 000000000<br>LEI: 353800JD4V72SJ3EOX37 | Long             | EC               | CORP              | JP        |      2700 | NS      | $30664.61     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| MS&AD Insurance Group Holdings Inc                     | MS&AD Insurance Group Holdings Inc                     | CUSIP: 000000000<br>LEI: 529900CXROT5S2HMMP26 | Long             | EC               | CORP              | JP        |     21654 | NS      | $484214.89    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Kyushu Railway Co                                      | Kyushu Railway Co                                      | CUSIP: 000000000<br>LEI: 5299002CCI6HLWAN3K50 | Long             | EC               | CORP              | JP        |      2700 | NS      | $69647.27     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Yakult Honsha Co Ltd                                   | Yakult Honsha Co Ltd                                   | CUSIP: 000000000<br>LEI: 353800YJPSPGG7KI0S71 | Long             | EC               | CORP              | JP        |      4200 | NS      | $78870.85     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokyo Metro Co Ltd                                     | Tokyo Metro Co Ltd                                     | CUSIP: 000000000<br>LEI: 35380049N9IQPZ74JY58 | Long             | EC               | CORP              | JP        |      5400 | NS      | $62712.45     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Yokohama Rubber Co Ltd/The                             | Yokohama Rubber Co Ltd/The                             | CUSIP: 000000000<br>LEI: 52990036XNWY2FMYWB76 | Long             | EC               | CORP              | JP        |      2700 | NS      | $74245.56     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Hirogin Holdings Inc                                   | Hirogin Holdings Inc                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      5400 | NS      | $45123.06     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Chugai Pharmaceutical Co Ltd                           | Chugai Pharmaceutical Co Ltd                           | CUSIP: 000000000<br>LEI: 529900T9LAII161DCN95 | Long             | EC               | CORP              | JP        |     11320 | NS      | $589726.19    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Azbil Corp                                             | Azbil Corp                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      8100 | NS      | $76825.09     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Sotetsu Holdings Inc                                   | Sotetsu Holdings Inc                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1303 | NS      | $20468.05     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiyo Yuden Co Ltd                                     | Taiyo Yuden Co Ltd                                     | CUSIP: 000000000<br>LEI: 353800V9G3X5PLB9AD43 | Long             | EC               | CORP              | JP        |      2700 | NS      | $47384.82     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Yamaha Motor Co Ltd                                    | Yamaha Motor Co Ltd                                    | CUSIP: 000000000<br>LEI: 3538004LR5NXILJDHY88 | Long             | EC               | CORP              | JP        |     16200 | NS      | $121069.61    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| NHK Spring Co Ltd                                      | NHK Spring Co Ltd                                      | CUSIP: 000000000<br>LEI: 35380033IJ3XRDV8VH57 | Long             | EC               | CORP              | JP        |      2700 | NS      | $29393.54     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Rakuten Bank Ltd                                       | Rakuten Bank Ltd                                       | CUSIP: 000000000<br>LEI: 3538007HFAF2NOCBUE44 | Long             | EC               | CORP              | JP        |      1539 | NS      | $70480.01     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Sankyo Co Ltd                                          | Sankyo Co Ltd                                          | CUSIP: 000000000<br>LEI: 3538009H2R9ZBZAOAK48 | Long             | EC               | CORP              | JP        |      2700 | NS      | $49870.89     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo Bank NA                                    | PURCHASED USD / SOLD JPY                               | CUSIP: 000000000<br>LEI: KB1H1DSPRFMYMCUFXT09 | N/A              | DFE              |  | US        |         1 | NC      | $189079.93    | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Marubeni Corp                                          | Marubeni Corp                                          | CUSIP: 000000000<br>LEI: 4P4N3ORD02UGQT1T1W12 | Long             | EC               | CORP              | JP        |     26000 | NS      | $524337.98    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Haseko Corp                                            | Haseko Corp                                            | CUSIP: 000000000<br>LEI: 529900EH7TSG348O4045 | Long             | EC               | CORP              | JP        |      4436 | NS      | $66442.49     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Suzuken Co Ltd/Aichi Japan                             | Suzuken Co Ltd/Aichi Japan                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       908 | NS      | $32738.16     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Lion Corp                                              | Lion Corp                                              | CUSIP: 000000000<br>LEI: 529900MPGS2GM7VPG855 | Long             | EC               | CORP              | JP        |      4100 | NS      | $42292.91     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsui Chemicals Inc                                   | Mitsui Chemicals Inc                                   | CUSIP: 000000000<br>LEI: 353800H2UB5ZEZRZQC02 | Long             | EC               | CORP              | JP        |      2700 | NS      | $62338.61     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Keisei Electric Railway Co Ltd                         | Keisei Electric Railway Co Ltd                         | CUSIP: 000000000<br>LEI: 529900VNP95IIHXPCY17 | Long             | EC               | CORP              | JP        |      8100 | NS      | $75787.67     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Maruichi Steel Tube Ltd                                | Maruichi Steel Tube Ltd                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1057 | NS      | $25502.06     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Aisin Corp                                             | Aisin Corp                                             | CUSIP: 000000000<br>LEI: 3538004IOK08PDY6I723 | Long             | EC               | CORP              | JP        |      9096 | NS      | $116309.40    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Ricoh Co Ltd                                           | Ricoh Co Ltd                                           | CUSIP: 000000000<br>LEI: 549300HFIB2GRUMDID72 | Long             | EC               | CORP              | JP        |     10800 | NS      | $102096.99    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| TOPPAN Holdings Inc                                    | TOPPAN Holdings Inc                                    | CUSIP: 000000000<br>LEI: 3538003H9W4KIDODQY20 | Long             | EC               | CORP              | JP        |      3910 | NS      | $106246.32    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Izumi Co Ltd                                           | Izumi Co Ltd                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       785 | NS      | $18091.77     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Nomura Real Estate Master Fund Inc                     | Nomura Real Estate Master Fund Inc                     | CUSIP: 000000000<br>LEI: 353800TNNZOQ1CPZE086 | Long             | EC               |  | JP        |        81 | NS      | $82544.91     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| NSK Ltd                                                | NSK Ltd                                                | CUSIP: 000000000<br>LEI: 353800FVQK6SULSPBC69 | Long             | EC               | CORP              | JP        |      5400 | NS      | $25365.36     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| LaSalle Logiport REIT                                  | LaSalle Logiport REIT                                  | CUSIP: 000000000<br>LEI: 353800II3DI1RPKBB314 | Long             | EC               |  | JP        |        27 | NS      | $26000.90     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi UFJ Financial Group Inc                     | Mitsubishi UFJ Financial Group Inc                     | CUSIP: 000000000<br>LEI: 353800V2V8PUY9TK3E06 | Long             | EC               | CORP              | JP        |    197122 | NS      | $2706171.39   | 3.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Skylark Holdings Co Ltd                                | Skylark Holdings Co Ltd                                | CUSIP: 000000000<br>LEI: 353800P64XSC0Q9CEB70 | Long             | EC               | CORP              | JP        |      3935 | NS      | $82189.73     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Takara Holdings Inc                                    | Takara Holdings Inc                                    | CUSIP: 000000000<br>LEI: 3538001CXSU150WNEY98 | Long             | EC               | CORP              | JP        |      2700 | NS      | $22393.30     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Aica Kogyo Co Ltd                                      | Aica Kogyo Co Ltd                                      | CUSIP: 000000000<br>LEI: 353800I589BKZAOJD116 | Long             | EC               | CORP              | JP        |       981 | NS      | $24435.86     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Rohto Pharmaceutical Co Ltd                            | Rohto Pharmaceutical Co Ltd                            | CUSIP: 000000000<br>LEI: 353800Q1CW5OS81OUM12 | Long             | EC               | CORP              | JP        |      3368 | NS      | $47682.92     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Ship Healthcare Holdings Inc                           | Ship Healthcare Holdings Inc                           | CUSIP: 000000000<br>LEI: 353800BIFUE1L527TH13 | Long             | EC               | CORP              | JP        |      1432 | NS      | $19237.74     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Otsuka Corp                                            | Otsuka Corp                                            | CUSIP: 000000000<br>LEI: 529900RG9DJ58J3UIE72 | Long             | EC               | CORP              | JP        |      4006 | NS      | $81440.13     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Furukawa Electric Co Ltd                               | Furukawa Electric Co Ltd                               | CUSIP: 000000000<br>LEI: 353800TJR1DQ3P1QR918 | Long             | EC               | CORP              | JP        |      1158 | NS      | $56382.80     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Kakaku.com Inc                                         | Kakaku.com Inc                                         | CUSIP: 000000000<br>LEI: 353800KA15Y0DCPWYY65 | Long             | EC               | CORP              | JP        |      1910 | NS      | $35411.26     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Asahi Group Holdings Ltd                               | Asahi Group Holdings Ltd                               | CUSIP: 000000000<br>LEI: 353800KAJ02XNHLCJW79 | Long             | EC               | CORP              | JP        |     25800 | NS      | $344279.83    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Kyushu Financial Group Inc                             | Kyushu Financial Group Inc                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      5400 | NS      | $27223.37     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokyo Century Corp                                     | Tokyo Century Corp                                     | CUSIP: 000000000<br>LEI: 35380096ZLHOF84DXR74 | Long             | EC               | CORP              | JP        |      2700 | NS      | $30384.23     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Toyoda Gosei Co Ltd                                    | Toyoda Gosei Co Ltd                                    | CUSIP: 000000000<br>LEI: 353800ZV4HXVM4DWPO50 | Long             | EC               | CORP              | JP        |      1180 | NS      | $23208.70     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Hakuhodo DY Holdings Inc                               | Hakuhodo DY Holdings Inc                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      2700 | NS      | $22346.57     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Post Insurance Co Ltd                            | Japan Post Insurance Co Ltd                            | CUSIP: 000000000<br>LEI: 54930042SK2Z708BA841 | Long             | EC               | CORP              | JP        |      3375 | NS      | $76194.23     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Disco Corp                                             | Disco Corp                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1592 | NS      | $469846.38    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Daiwa House REIT Investment Corp                       | Daiwa House REIT Investment Corp                       | CUSIP: 000000000<br>LEI: 3538001FWU534P8JMO05 | Long             | EC               |  | JP        |        38 | NS      | $64058.98     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Calbee Inc                                             | Calbee Inc                                             | CUSIP: 000000000<br>LEI: 529900CIHZID6O8LJH81 | Long             | EC               | CORP              | JP        |      1323 | NS      | $25141.99     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Nihon Kohden Corp                                      | Nihon Kohden Corp                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      2700 | NS      | $32075.88     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Nichirei Corp                                          | Nichirei Corp                                          | CUSIP: 000000000<br>LEI: 529900MX3GPXXKO0MT06 | Long             | EC               | CORP              | JP        |      2732 | NS      | $35652.46     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokyo Tatemono Co Ltd                                  | Tokyo Tatemono Co Ltd                                  | CUSIP: 000000000<br>LEI: 529900RQA4JTW1869J86 | Long             | EC               | CORP              | JP        |      3443 | NS      | $61175.25     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Olympus Corp                                           | Olympus Corp                                           | CUSIP: 000000000<br>LEI: 5299000Y52IFDI1I2A21 | Long             | EC               | CORP              | JP        |     18900 | NS      | $224400.29    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanwa Holdings Corp                                    | Sanwa Holdings Corp                                    | CUSIP: 000000000<br>LEI: 5299003X6BCA4ROO5A70 | Long             | EC               | CORP              | JP        |      3487 | NS      | $115609.70    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Advantest Corp                                         | Advantest Corp                                         | CUSIP: 000000000<br>LEI: 353800EMK32PDKS9XR54 | Long             | EC               | CORP              | JP        |     12948 | NS      | $955110.53    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Metal Mining Co Ltd                           | Sumitomo Metal Mining Co Ltd                           | CUSIP: 000000000<br>LEI: 353800CF81IXL9974H84 | Long             | EC               | CORP              | JP        |      4332 | NS      | $106766.73    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Daiwa House Industry Co Ltd                            | Daiwa House Industry Co Ltd                            | CUSIP: 000000000<br>LEI: 353800K9WXR9XRZJZI46 | Long             | EC               | CORP              | JP        |     10236 | NS      | $351061.95    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| INFRONEER Holdings Inc                                 | INFRONEER Holdings Inc                                 | CUSIP: 000000000<br>LEI: 353800G6TWA2W0MY9K16 | Long             | EC               | CORP              | JP        |      2700 | NS      | $22626.95     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Toyota Tsusho Corp                                     | Toyota Tsusho Corp                                     | CUSIP: 000000000<br>LEI: 549300CEE2ENIUJNXB84 | Long             | EC               | CORP              | JP        |     11779 | NS      | $266575.87    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Ezaki Glico Co Ltd                                     | Ezaki Glico Co Ltd                                     | CUSIP: 000000000<br>LEI: 3538001RG4BHKDFV6G61 | Long             | EC               | CORP              | JP        |       976 | NS      | $31149.30     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Sony Group Corp                                        | Sony Group Corp                                        | CUSIP: 000000000<br>LEI: 529900R5WX9N2OI2N910 | Long             | EC               | CORP              | JP        |    106226 | NS      | $2743071.62   | 3.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Kioxia Holdings Corp                                   | Kioxia Holdings Corp                                   | CUSIP: 000000000<br>LEI: 35380080RTKRARNH4R73 | Long             | EC               | CORP              | JP        |      1200 | NS      | $20794.07     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi Heavy Industries Ltd                        | Mitsubishi Heavy Industries Ltd                        | CUSIP: 000000000<br>LEI: 353800TJ98PCAZROVE69 | Long             | EC               | CORP              | JP        |     56700 | NS      | $1417058.40   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Ito En Ltd                                             | Ito En Ltd                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1083 | NS      | $24487.37     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Sohgo Security Services Co Ltd                         | Sohgo Security Services Co Ltd                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      5400 | NS      | $37702.24     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| KDX Realty Investment Corp                             | KDX Realty Investment Corp                             | CUSIP: 000000000<br>LEI: 353800FFT483NCIHFY42 | Long             | EC               |  | JP        |        54 | NS      | $58357.16     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| MISUMI Group Inc                                       | MISUMI Group Inc                                       | CUSIP: 000000000<br>LEI: 353800SJWGE5BEK2V032 | Long             | EC               | CORP              | JP        |      5400 | NS      | $72189.41     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| ABC-Mart Inc                                           | ABC-Mart Inc                                           | CUSIP: 000000000<br>LEI: 353800AXWW4CMTSJWL33 | Long             | EC               | CORP              | JP        |      1432 | NS      | $29364.70     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Lixil Corp                                             | Lixil Corp                                             | CUSIP: 000000000<br>LEI: 353800KB8G4F9WUJJ886 | Long             | EC               | CORP              | JP        |      5400 | NS      | $62357.30     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Renesas Electronics Corp                               | Renesas Electronics Corp                               | CUSIP: 000000000<br>LEI: 5299000EPC47VJQOFB81 | Long             | EC               | CORP              | JP        |     28658 | NS      | $354938.99    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Hisamitsu Pharmaceutical Co Inc                        | Hisamitsu Pharmaceutical Co Inc                        | CUSIP: 000000000<br>LEI: 5299006QL3IBQ4CN7E12 | Long             | EC               | CORP              | JP        |      1086 | NS      | $30855.65     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Daifuku Co Ltd                                         | Daifuku Co Ltd                                         | CUSIP: 000000000<br>LEI: 3538006FG1W4X3MYHL36 | Long             | EC               | CORP              | JP        |      6116 | NS      | $157594.60    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsui Fudosan Co Ltd                                  | Mitsui Fudosan Co Ltd                                  | CUSIP: 000000000<br>LEI: 353800ND4ZKNZDYKMF33 | Long             | EC               | CORP              | JP        |     45900 | NS      | $443286.37    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Kokuyo Co Ltd                                          | Kokuyo Co Ltd                                          | CUSIP: 000000000<br>LEI: 3538001EN1YX65H42410 | Long             | EC               | CORP              | JP        |      6180 | NS      | $35374.18     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Capcom Co Ltd                                          | Capcom Co Ltd                                          | CUSIP: 000000000<br>LEI: 529900JJWQKXS3TC8744 | Long             | EC               | CORP              | JP        |      6221 | NS      | $212455.90    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Park24 Co Ltd                                          | Park24 Co Ltd                                          | CUSIP: 000000000<br>LEI: 549300LFG2WZWCWM4M68 | Long             | EC               | CORP              | JP        |      2700 | NS      | $34580.64     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Cosmos Pharmaceutical Corp                             | Cosmos Pharmaceutical Corp                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       598 | NS      | $37860.15     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Heavy Industries Ltd                          | Sumitomo Heavy Industries Ltd                          | CUSIP: 000000000<br>LEI: 353800VSTEIRMBC3S374 | Long             | EC               | CORP              | JP        |      1885 | NS      | $38660.48     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokyo Electric Power Co Holdings Inc                   | Tokyo Electric Power Co Holdings Inc                   | CUSIP: 000000000<br>LEI: 5299004EMJ3R4RVR5Y75 | Long             | EC               | CORP              | JP        |     24300 | NS      | $80767.28     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Kawasaki Kisen Kaisha Ltd                              | Kawasaki Kisen Kaisha Ltd                              | CUSIP: 000000000<br>LEI: 353800FL04R73DS5P870 | Long             | EC               | CORP              | JP        |      6631 | NS      | $93833.39     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Fujitsu Ltd                                            | Fujitsu Ltd                                            | CUSIP: 000000000<br>LEI: 3538000246DHJLRTUZ24 | Long             | EC               | CORP              | JP        |     30140 | NS      | $733442.49    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Kikkoman Corp                                          | Kikkoman Corp                                          | CUSIP: 000000000<br>LEI: 529900T9K5UH9HXOND47 | Long             | EC               | CORP              | JP        |     12900 | NS      | $119493.23    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Institutional Fiduciary Trust - Money Market Portfolio | Institutional Fiduciary Trust - Money Market Portfolio | CUSIP: 457756500<br>LEI: 549300M4TP89K77LG374 | Long             | EC               | RF                | US        |     77418 | NS      | $77417.79     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| United Urban Investment Corp                           | United Urban Investment Corp                           | CUSIP: 000000000<br>LEI: 353800GYZWBD7BDCN841 | Long             | EC               |  | JP        |        54 | NS      | $57983.32     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Toray Industries Inc                                   | Toray Industries Inc                                   | CUSIP: 000000000<br>LEI: 35380099TCYR5FHT0A11 | Long             | EC               | CORP              | JP        |     24300 | NS      | $166177.71    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercari Inc                                            | Mercari Inc                                            | CUSIP: 000000000<br>LEI: 3538009SK4V5AXSTUJ26 | Long             | EC               | CORP              | JP        |      2025 | NS      | $37487.28     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Nomura Real Estate Holdings Inc                        | Nomura Real Estate Holdings Inc                        | CUSIP: 000000000<br>LEI: 353800UZ91CT24OL9P59 | Long             | EC               | CORP              | JP        |      8100 | NS      | $47317.53     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| UBE Corp                                               | UBE Corp                                               | CUSIP: 000000000<br>LEI: 529900XMRZ2VNF3ZPS69 | Long             | EC               | CORP              | JP        |      1686 | NS      | $26402.66     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Toyo Tire Corp                                         | Toyo Tire Corp                                         | CUSIP: 000000000<br>LEI: 529900Y41RD7VQM9RF75 | Long             | EC               | CORP              | JP        |      2674 | NS      | $56536.37     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| As One Corp                                            | As One Corp                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1011 | NS      | $17435.02     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| USS Co Ltd                                             | USS Co Ltd                                             | CUSIP: 000000000<br>LEI: 5299000RRQD6UZXG4W72 | Long             | EC               | CORP              | JP        |      5400 | NS      | $59385.23     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Welcia Holdings Co Ltd                                 | Welcia Holdings Co Ltd                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1783 | NS      | $31347.08     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| PALTAC Corp                                            | PALTAC Corp                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       575 | NS      | $16074.28     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Jeol Ltd                                               | Jeol Ltd                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       794 | NS      | $24208.36     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Hitachi Ltd                                            | Hitachi Ltd                                            | CUSIP: 000000000<br>LEI: 549300T6IPOCDWLKC615 | Long             | EC               | CORP              | JP        |     77693 | NS      | $2261754.06   | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Alps Alpine Co Ltd                                     | Alps Alpine Co Ltd                                     | CUSIP: 000000000<br>LEI: 529900PWNU4ASLY9VI90 | Long             | EC               | CORP              | JP        |      2700 | NS      | $29019.70     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Aeon Co Ltd                                            | Aeon Co Ltd                                            | CUSIP: 000000000<br>LEI: 5299009MXFL34SA71416 | Long             | EC               | CORP              | JP        |     13500 | NS      | $413098.41    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Nichias Corp                                           | Nichias Corp                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       965 | NS      | $36904.43     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Kyudenko Corp                                          | Kyudenko Corp                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       815 | NS      | $33690.09     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| House Foods Group Inc                                  | House Foods Group Inc                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1066 | NS      | $20682.37     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Hamamatsu Photonics KK                                 | Hamamatsu Photonics KK                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      5400 | NS      | $65647.13     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| T&D Holdings Inc                                       | T&D Holdings Inc                                       | CUSIP: 000000000<br>LEI: 3538008ARJ1MACEWA242 | Long             | EC               | CORP              | JP        |      8135 | NS      | $178531.27    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Dai Nippon Printing Co Ltd                             | Dai Nippon Printing Co Ltd                             | CUSIP: 000000000<br>LEI: 529900S7NFNQ4FT6OP83 | Long             | EC               | CORP              | JP        |      8066 | NS      | $122292.50    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS AG                                                 | PURCHASED USD / SOLD JPY                               | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | US        |         1 | NC      | $94306.08     | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Japan Hotel REIT Investment Corp                       | Japan Hotel REIT Investment Corp                       | CUSIP: 000000000<br>LEI: 353800L8KG849FP1JI68 | Long             | EC               |  | JP        |        81 | NS      | $42674.37     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokyo Electron Ltd                                     | Tokyo Electron Ltd                                     | CUSIP: 000000000<br>LEI: 549300H5LSF8DP3RIJ34 | Long             | EC               | CORP              | JP        |      7894 | NS      | $1512727.47   | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Shimizu Corp                                           | Shimizu Corp                                           | CUSIP: 000000000<br>LEI: 353800BRAE0QFP3ZLY22 | Long             | EC               | CORP              | JP        |      8100 | NS      | $90339.58     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Nippon Television Holdings Inc                         | Nippon Television Holdings Inc                         | CUSIP: 000000000<br>LEI: 353800QI43C3H97E4W63 | Long             | EC               | CORP              | JP        |       965 | NS      | $22353.77     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Nexon Co Ltd                                           | Nexon Co Ltd                                           | CUSIP: 000000000<br>LEI: 5299005SFO0GAJFLKN43 | Long             | EC               | CORP              | JP        |      6900 | NS      | $139007.93    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Santen Pharmaceutical Co Ltd                           | Santen Pharmaceutical Co Ltd                           | CUSIP: 000000000<br>LEI: 529900TPT3I7C17MIM03 | Long             | EC               | CORP              | JP        |      5400 | NS      | $61796.53     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Heiwa Corp                                             | Heiwa Corp                                             | CUSIP: 000000000<br>LEI: 529900N1BTC5X6TU7W19 | Long             | EC               | CORP              | JP        |      1003 | NS      | $14582.02     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Daito Trust Construction Co Ltd                        | Daito Trust Construction Co Ltd                        | CUSIP: 000000000<br>LEI: 353800QQ4DRI3KXS3038 | Long             | EC               | CORP              | JP        |      1011 | NS      | $109712.52    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Gunma Bank Ltd/The                                     | Gunma Bank Ltd/The                                     | CUSIP: 000000000<br>LEI: 54930054A69VC4I5BP89 | Long             | EC               | CORP              | JP        |      5400 | NS      | $45253.90     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi Logistics Corp                              | Mitsubishi Logistics Corp                              | CUSIP: 000000000<br>LEI: 529900GJKGNRLQBJUH32 | Long             | EC               | CORP              | JP        |      5400 | NS      | $44207.14     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| TechnoPro Holdings Inc                                 | TechnoPro Holdings Inc                                 | CUSIP: 000000000<br>LEI: 3538001DJ8I5PJQNHU53 | Long             | EC               | CORP              | JP        |      1922 | NS      | $55978.77     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Kubota Corp                                            | Kubota Corp                                            | CUSIP: 000000000<br>LEI: 549300CSY4INHEHQQT13 | Long             | EC               | CORP              | JP        |     16200 | NS      | $181912.84    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Aeon Mall Co Ltd                                       | Aeon Mall Co Ltd                                       | CUSIP: 000000000<br>LEI: 353800IDE3ULLSB2R846 | Long             | EC               | CORP              | JP        |      1572 | NS      | $31266.96     | 0.04%             |  |  |  | No            |                  3 | On Loan: No      |
| Oji Holdings Corp                                      | Oji Holdings Corp                                      | CUSIP: 000000000<br>LEI: 529900LVC9GIIYUGE243 | Long             | EC               | CORP              | JP        |     13500 | NS      | $67834.12     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Ibiden Co Ltd                                          | Ibiden Co Ltd                                          | CUSIP: 000000000<br>LEI: 52990051DBFIQEY37C91 | Long             | EC               | CORP              | JP        |      1940 | NS      | $85244.76     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Kamigumi Co Ltd                                        | Kamigumi Co Ltd                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1652 | NS      | $45827.57     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Canon Inc                                              | Canon Inc                                              | CUSIP: 000000000<br>LEI: 529900JH1GSC035SSP77 | Long             | EC               | CORP              | JP        |     15506 | NS      | $449684.20    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Resonac Holdings Corp                                  | Resonac Holdings Corp                                  | CUSIP: 000000000<br>LEI: 5493006AIPA1V92YPP18 | Long             | EC               | CORP              | JP        |      3260 | NS      | $75584.06     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| NOK Corp                                               | NOK Corp                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1100 | NS      | $16197.86     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Otsuka Holdings Co Ltd                                 | Otsuka Holdings Co Ltd                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      8100 | NS      | $401004.53    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Tobu Railway Co Ltd                                    | Tobu Railway Co Ltd                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      3573 | NS      | $61605.15     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Daikin Industries Ltd                                  | Daikin Industries Ltd                                  | CUSIP: 000000000<br>LEI: 549300Y7FWSTSHMW5Y57 | Long             | EC               | CORP              | JP        |      4900 | NS      | $577538.16    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokyo Gas Co Ltd                                       | Tokyo Gas Co Ltd                                       | CUSIP: 000000000<br>LEI: 353800678EIJLOQSWZ83 | Long             | EC               | CORP              | JP        |      6635 | NS      | $220117.83    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Ushio Inc                                              | Ushio Inc                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1686 | NS      | $20916.69     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Nippon Telegraph & Telephone Corp                      | Nippon Telegraph & Telephone Corp                      | CUSIP: 000000000<br>LEI: 353800VHQU5VIXVUA841 | Long             | EC               | CORP              | JP        |    486000 | NS      | $518148.78    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Dentsu Soken Inc                                       | Dentsu Soken Inc                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       413 | NS      | $19213.96     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Realty & Development Co Ltd                   | Sumitomo Realty & Development Co Ltd                   | CUSIP: 000000000<br>LEI: 353800SO2DCLOI3LNZ64 | Long             | EC               | CORP              | JP        |      5833 | NS      | $224807.44    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Hikari Tsushin Inc                                     | Hikari Tsushin Inc                                     | CUSIP: 000000000<br>LEI: 3538001SOIIV8U3OXH94 | Long             | EC               | CORP              | JP        |       346 | NS      | $101947.18    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Bakelite Co Ltd                               | Sumitomo Bakelite Co Ltd                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1215 | NS      | $35067.57     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS AG                                                 | PURCHASED JPY / SOLD USD                               | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | JP        |         1 | NC      | $3879.96      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Tomy Co Ltd                                            | Tomy Co Ltd                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1736 | NS      | $39119.94     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| BIPROGY Inc                                            | BIPROGY Inc                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1340 | NS      | $55902.52     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Yaoko Co Ltd                                           | Yaoko Co Ltd                                           | CUSIP: 000000000<br>LEI: 353800Y2SZOLTECIV233 | Long             | EC               | CORP              | JP        |       459 | NS      | $30213.38     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Daiichi Sankyo Co Ltd                                  | Daiichi Sankyo Co Ltd                                  | CUSIP: 000000000<br>LEI: 353800XGIU2IHQGC9504 | Long             | EC               | CORP              | JP        |     32600 | NS      | $759451.69    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Bank & Trust Co.                          | PURCHASED USD / SOLD JPY                               | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |         1 | NC      | $94229.65     | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Oriental Land Co Ltd/Japan                             | Oriental Land Co Ltd/Japan                             | CUSIP: 000000000<br>LEI: 353800PIFKBZ6KTU5994 | Long             | EC               | CORP              | JP        |     18900 | NS      | $434930.94    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| LY Corp                                                | LY Corp                                                | CUSIP: 000000000<br>LEI: 52990078MD2OL792YM35 | Long             | EC               | CORP              | JP        |     45900 | NS      | $168544.15    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Kao Corp                                               | Kao Corp                                               | CUSIP: 000000000<br>LEI: 353800HM38HFCB8RGL63 | Long             | EC               | CORP              | JP        |      8100 | NS      | $362087.30    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Mabuchi Motor Co Ltd                                   | Mabuchi Motor Co Ltd                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1792 | NS      | $26425.01     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| MINEBEA MITSUMI Inc                                    | MINEBEA MITSUMI Inc                                    | CUSIP: 000000000<br>LEI: 353800CCB0CZ75YZ4010 | Long             | EC               | CORP              | JP        |      6523 | NS      | $95579.14     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Fujikura Ltd                                           | Fujikura Ltd                                           | CUSIP: 000000000<br>LEI: 353800PSDZ8VRCKVPL51 | Long             | EC               | CORP              | JP        |      4725 | NS      | $247658.11    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokyo Ohka Kogyo Co Ltd                                | Tokyo Ohka Kogyo Co Ltd                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1925 | NS      | $55972.86     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Nomura Holdings Inc                                    | Nomura Holdings Inc                                    | CUSIP: 000000000<br>LEI: 549300B3CEAHYG7K8164 | Long             | EC               | CORP              | JP        |     51300 | NS      | $338105.16    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Bic Camera Inc                                         | Bic Camera Inc                                         | CUSIP: 000000000<br>LEI: 353800MQU1LJXY6N8N97 | Long             | EC               | CORP              | JP        |      1600 | NS      | $18321.16     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Post Bank Co Ltd                                 | Japan Post Bank Co Ltd                                 | CUSIP: 000000000<br>LEI: 5493006JVO6N2HC2XZ76 | Long             | EC               | CORP              | JP        |     32400 | NS      | $348797.12    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Yamaguchi Financial Group Inc                          | Yamaguchi Financial Group Inc                          | CUSIP: 000000000<br>LEI: 353800898JPV95YSY548 | Long             | EC               | CORP              | JP        |      2700 | NS      | $29029.04     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Advance Residence Investment Corp                      | Advance Residence Investment Corp                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | JP        |        54 | NS      | $55927.17     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Dai-ichi Life Holdings Inc                             | Dai-ichi Life Holdings Inc                             | CUSIP: 000000000<br>LEI: 549300ZUFXI7JXZVTZ25 | Long             | EC               | CORP              | JP        |     62100 | NS      | $471193.88    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Rinnai Corp                                            | Rinnai Corp                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1910 | NS      | $47325.21     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Daiwa Securities Group Inc                             | Daiwa Securities Group Inc                             | CUSIP: 000000000<br>LEI: 353800WRC7Y23PWFJG38 | Long             | EC               | CORP              | JP        |     24300 | NS      | $172351.76    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Kuraray Co Ltd                                         | Kuraray Co Ltd                                         | CUSIP: 000000000<br>LEI: 549300W9JPTOE739QZ31 | Long             | EC               | CORP              | JP        |      5400 | NS      | $68600.51     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| M3 Inc                                                 | M3 Inc                                                 | CUSIP: 000000000<br>LEI: 3538001UOKRWIODYM055 | Long             | EC               | CORP              | JP        |      8100 | NS      | $111340.30    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Electric Power Development Co Ltd                      | Electric Power Development Co Ltd                      | CUSIP: 000000000<br>LEI: 549300KMHPUAQI8VEH90 | Long             | EC               | CORP              | JP        |      2700 | NS      | $45908.13     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| OKUMA Corp                                             | OKUMA Corp                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       872 | NS      | $22155.42     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Harmonic Drive Systems Inc                             | Harmonic Drive Systems Inc                             | CUSIP: 000000000<br>LEI: 353800XFIX2EUARGOE85 | Long             | EC               | CORP              | JP        |       787 | NS      | $15255.63     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Ebara Corp                                             | Ebara Corp                                             | CUSIP: 000000000<br>LEI: 353800UV8U3SOMCDTI49 | Long             | EC               | CORP              | JP        |      8100 | NS      | $155781.09    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Dentsu Group Inc                                       | Dentsu Group Inc                                       | CUSIP: 000000000<br>LEI: 5299007PBBE83ZLJZG91 | Long             | EC               | CORP              | JP        |      3532 | NS      | $78149.27     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Shimadzu Corp                                          | Shimadzu Corp                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      4386 | NS      | $108461.99    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldwin Inc                                            | Goldwin Inc                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       600 | NS      | $33716.64     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Mitsui Trust Group Inc                        | Sumitomo Mitsui Trust Group Inc                        | CUSIP: 000000000<br>LEI: 353800P843RLCDBLNT17 | Long             | EC               | CORP              | JP        |     11436 | NS      | $303941.32    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| SBI Holdings Inc                                       | SBI Holdings Inc                                       | CUSIP: 000000000<br>LEI: 353800L6LMHYIPSMRQ17 | Long             | EC               | CORP              | JP        |      4829 | NS      | $168159.99    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Kokusai Electric Corp                                  | Kokusai Electric Corp                                  | CUSIP: 000000000<br>LEI: 549300CDY6N3WKYK2I96 | Long             | EC               | CORP              | JP        |      2737 | NS      | $65694.06     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| NIPPON EXPRESS HOLDINGS INC                            | NIPPON EXPRESS HOLDINGS INC                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      3857 | NS      | $77236.13     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Tsuruha Holdings Inc                                   | Tsuruha Holdings Inc                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       771 | NS      | $60075.50     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Seven Bank Ltd                                         | Seven Bank Ltd                                         | CUSIP: 000000000<br>LEI: 353800WMG1NLGHB7B594 | Long             | EC               | CORP              | JP        |      8100 | NS      | $14748.17     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Daicel Corp                                            | Daicel Corp                                            | CUSIP: 000000000<br>LEI: 353800ZG4XF6D7NZGS72 | Long             | EC               | CORP              | JP        |      2700 | NS      | $22608.26     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Amada Co Ltd                                           | Amada Co Ltd                                           | CUSIP: 000000000<br>LEI: 529900QF5O6TQGCPDX85 | Long             | EC               | CORP              | JP        |      5400 | NS      | $58899.24     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Keio Corp                                              | Keio Corp                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1910 | NS      | $46359.93     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Socionext Inc                                          | Socionext Inc                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      2700 | NS      | $51889.65     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Open House Group Co Ltd                                | Open House Group Co Ltd                                | CUSIP: 000000000<br>LEI: 529900WQOGPBIJEHW865 | Long             | EC               | CORP              | JP        |      1325 | NS      | $59780.71     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| THK Co Ltd                                             | THK Co Ltd                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1900 | NS      | $50734.19     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsui Mining & Smelting Co Ltd                        | Mitsui Mining & Smelting Co Ltd                        | CUSIP: 000000000<br>LEI: 35380021EYAHSQM25559 | Long             | EC               | CORP              | JP        |      1084 | NS      | $37815.61     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Shimamura Co Ltd                                       | Shimamura Co Ltd                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       756 | NS      | $52966.32     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Sawai Group Holdings Co Ltd                            | Sawai Group Holdings Co Ltd                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      2062 | NS      | $26166.68     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokyu Fudosan Holdings Corp                            | Tokyu Fudosan Holdings Corp                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     10800 | NS      | $76899.86     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| IHI Corp                                               | IHI Corp                                               | CUSIP: 000000000<br>LEI: 549300ETQIESIUQ2OE26 | Long             | EC               | CORP              | JP        |      2249 | NS      | $243513.86    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| GLP J-Reit                                             | GLP J-Reit                                             | CUSIP: 000000000<br>LEI: 353800E27V9KA51K2I90 | Long             | EC               |  | JP        |        81 | NS      | $72731.49     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Resorttrust Inc                                        | Resorttrust Inc                                        | CUSIP: 000000000<br>LEI: 353800FM9MYWH105SE11 | Long             | EC               | CORP              | JP        |      2700 | NS      | $32917.03     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Nippon Accommodations Fund Inc                         | Nippon Accommodations Fund Inc                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | JP        |        31 | NS      | $25260.13     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Suntory Beverage & Food Ltd                            | Suntory Beverage & Food Ltd                            | CUSIP: 000000000<br>LEI: 549300FONLMVK7YYYH41 | Long             | EC               | CORP              | JP        |      1979 | NS      | $63160.30     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Subaru Corp                                            | Subaru Corp                                            | CUSIP: 000000000<br>LEI: 549300N244BVAEE6HH86 | Long             | EC               | CORP              | JP        |     10836 | NS      | $188708.21    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsui & Co Ltd                                        | Mitsui & Co Ltd                                        | CUSIP: 000000000<br>LEI: 2NRSB4GOU9DD6CNW5R48 | Long             | EC               | CORP              | JP        |     44689 | NS      | $911755.22    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| SCSK Corp                                              | SCSK Corp                                              | CUSIP: 000000000<br>LEI: 529900SNGFXMSUBB7864 | Long             | EC               | CORP              | JP        |      2700 | NS      | $81273.84     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Macnica Holdings Inc                                   | Macnica Holdings Inc                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      2700 | NS      | $36281.63     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| SHO-BOND Holdings Co Ltd                               | SHO-BOND Holdings Co Ltd                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       778 | NS      | $25368.69     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Astellas Pharma Inc                                    | Astellas Pharma Inc                                    | CUSIP: 000000000<br>LEI: 529900IB708DY2HBBB35 | Long             | EC               | CORP              | JP        |     32400 | NS      | $317730.62    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Acom Co Ltd                                            | Acom Co Ltd                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      5400 | NS      | $15966.91     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Eisai Co Ltd                                           | Eisai Co Ltd                                           | CUSIP: 000000000<br>LEI: 353800HDEE0ZYEX4QV91 | Long             | EC               | CORP              | JP        |      4837 | NS      | $138903.22    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Zensho Holdings Co Ltd                                 | Zensho Holdings Co Ltd                                 | CUSIP: 000000000<br>LEI: 353800DYF3UDM49ITT03 | Long             | EC               | CORP              | JP        |      1589 | NS      | $96124.35     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Fukuoka Financial Group Inc                            | Fukuoka Financial Group Inc                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      2700 | NS      | $72095.95     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiheiyo Cement Corp                                   | Taiheiyo Cement Corp                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      2112 | NS      | $52403.39     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Airlines Co Ltd                                  | Japan Airlines Co Ltd                                  | CUSIP: 000000000<br>LEI: 3538002MH5L1QZZ93477 | Long             | EC               | CORP              | JP        |      2700 | NS      | $54983.21     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| NGK Insulators Ltd                                     | NGK Insulators Ltd                                     | CUSIP: 000000000<br>LEI: 353800701BNCL25VYY16 | Long             | EC               | CORP              | JP        |      5400 | NS      | $67759.35     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Central Japan Railway Co                               | Central Japan Railway Co                               | CUSIP: 000000000<br>LEI: 353800YAR3OVUITHTG64 | Long             | EC               | CORP              | JP        |     15200 | NS      | $340104.54    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| JMDC Inc                                               | JMDC Inc                                               | CUSIP: 000000000<br>LEI: 3538002M2SQV6WJ6MQ67 | Long             | EC               | CORP              | JP        |       560 | NS      | $15445.60     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanrio Co Ltd                                          | Sanrio Co Ltd                                          | CUSIP: 000000000<br>LEI: 3538002Q5JQLOMSPH125 | Long             | EC               | CORP              | JP        |      2989 | NS      | $144188.81    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Morinaga & Co Ltd/Japan                                | Morinaga & Co Ltd/Japan                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1294 | NS      | $21276.26     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Sekisui Chemical Co Ltd                                | Sekisui Chemical Co Ltd                                | CUSIP: 000000000<br>LEI: 529900KQIVT7NWFNMI70 | Long             | EC               | CORP              | JP        |      6423 | NS      | $116147.16    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Canon Marketing Japan Inc                              | Canon Marketing Japan Inc                              | CUSIP: 000000000<br>LEI: 529900WMTZBIIROD5K97 | Long             | EC               | CORP              | JP        |       866 | NS      | $31721.46     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Concordia Financial Group Ltd                          | Concordia Financial Group Ltd                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     18900 | NS      | $122628.54    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| NH Foods Ltd                                           | NH Foods Ltd                                           | CUSIP: 000000000<br>LEI: 353800NLDBIOUQILWU82 | Long             | EC               | CORP              | JP        |      1612 | NS      | $55710.51     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Yamada Holdings Co Ltd                                 | Yamada Holdings Co Ltd                                 | CUSIP: 000000000<br>LEI: 353800MDZ4K1DQKLO464 | Long             | EC               | CORP              | JP        |      8100 | NS      | $25419.57     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Keyence Corp                                           | Keyence Corp                                           | CUSIP: 000000000<br>LEI: 529900M7PQBS7A89DZ11 | Long             | EC               | CORP              | JP        |      3286 | NS      | $1315810.45   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| COMSYS Holdings Corp                                   | COMSYS Holdings Corp                                   | CUSIP: 000000000<br>LEI: 529900BXEDA1UA6QX260 | Long             | EC               | CORP              | JP        |      1920 | NS      | $44369.55     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Osaka Gas Co Ltd                                       | Osaka Gas Co Ltd                                       | CUSIP: 000000000<br>LEI: 353800024KMNOPQRWZ02 | Long             | EC               | CORP              | JP        |      6726 | NS      | $171962.46    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Bank & Trust Co.                          | PURCHASED JPY / SOLD USD                               | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | JP        |         1 | NC      | $3879.67      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Internet Initiative Japan Inc                          | Internet Initiative Japan Inc                          | CUSIP: 000000000<br>LEI: 529900EOCJNAPUHDFR78 | Long             | EC               | CORP              | JP        |      2032 | NS      | $39994.30     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Pan Pacific International Holdings Corp                | Pan Pacific International Holdings Corp                | CUSIP: 000000000<br>LEI: 529900QLHJM2E18A5763 | Long             | EC               | CORP              | JP        |      7027 | NS      | $241246.79    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| DMG Mori Co Ltd                                        | DMG Mori Co Ltd                                        | CUSIP: 000000000<br>LEI: 353800P4I3FIXTQV2E13 | Long             | EC               | CORP              | JP        |      2700 | NS      | $62039.53     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Sega Sammy Holdings Inc                                | Sega Sammy Holdings Inc                                | CUSIP: 000000000<br>LEI: 5493006B6WMKNQ8QNP51 | Long             | EC               | CORP              | JP        |      2700 | NS      | $64581.67     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Trend Micro Inc/Japan                                  | Trend Micro Inc/Japan                                  | CUSIP: 000000000<br>LEI: 3538005O5UJ5RNAGVE16 | Long             | EC               | CORP              | JP        |      2334 | NS      | $161212.35    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Denka Co Ltd                                           | Denka Co Ltd                                           | CUSIP: 000000000<br>LEI: 353800Y94EKQEH8MVD43 | Long             | EC               | CORP              | JP        |      1443 | NS      | $19780.12     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| J Front Retailing Co Ltd                               | J Front Retailing Co Ltd                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      4050 | NS      | $55039.29     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Persol Holdings Co Ltd                                 | Persol Holdings Co Ltd                                 | CUSIP: 000000000<br>LEI: 3538000H6OI725NB2008 | Long             | EC               | CORP              | JP        |     32400 | NS      | $63142.37     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Isetan Mitsukoshi Holdings Ltd                         | Isetan Mitsukoshi Holdings Ltd                         | CUSIP: 000000000<br>LEI: 529900SY5RZO92EFG035 | Long             | EC               | CORP              | JP        |      5387 | NS      | $82010.54     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Nisshin Seifun Group Inc                               | Nisshin Seifun Group Inc                               | CUSIP: 000000000<br>LEI: 529900N4QFZS1P6PYX29 | Long             | EC               | CORP              | JP        |      4200 | NS      | $50084.81     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| JFE Holdings Inc                                       | JFE Holdings Inc                                       | CUSIP: 000000000<br>LEI: 3538002Y11Y03NA9B530 | Long             | EC               | CORP              | JP        |     10800 | NS      | $125387.52    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| McDonald's Holdings Co Japan Ltd                       | McDonald's Holdings Co Japan Ltd                       | CUSIP: 000000000<br>LEI: 529900FY9FV0AYNRC729 | Long             | EC               | CORP              | JP        |      1633 | NS      | $67379.83     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Secom Co Ltd                                           | Secom Co Ltd                                           | CUSIP: 000000000<br>LEI: 529900TYCL9N3E9PGE47 | Long             | EC               | CORP              | JP        |      7200 | NS      | $258351.62    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Asahi Kasei Corp                                       | Asahi Kasei Corp                                       | CUSIP: 000000000<br>LEI: 353800GPI4Z3MGDGN142 | Long             | EC               | CORP              | JP        |     21600 | NS      | $153575.41    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Murata Manufacturing Co Ltd                            | Murata Manufacturing Co Ltd                            | CUSIP: 000000000<br>LEI: 529900QZG6DL8ZRI7140 | Long             | EC               | CORP              | JP        |     29700 | NS      | $442893.84    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Toyo Seikan Group Holdings Ltd                         | Toyo Seikan Group Holdings Ltd                         | CUSIP: 000000000<br>LEI: 5299004VWXGQPXR05T33 | Long             | EC               | CORP              | JP        |      2700 | NS      | $52768.18     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Nitto Denko Corp                                       | Nitto Denko Corp                                       | CUSIP: 000000000<br>LEI: 3538009GX5P09USH2J25 | Long             | EC               | CORP              | JP        |     12115 | NS      | $234130.79    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Nomura Research Institute Ltd                          | Nomura Research Institute Ltd                          | CUSIP: 000000000<br>LEI: 5299005F1HCVF4M4QN79 | Long             | EC               | CORP              | JP        |      7306 | NS      | $292503.01    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Resona Holdings Inc                                    | Resona Holdings Inc                                    | CUSIP: 000000000<br>LEI: 52990067JE75XZCYYT81 | Long             | EC               | CORP              | JP        |     40500 | NS      | $373470.87    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Nissin Foods Holdings Co Ltd                           | Nissin Foods Holdings Co Ltd                           | CUSIP: 000000000<br>LEI: 529900YMZMNSHC1W6V41 | Long             | EC               | CORP              | JP        |      3727 | NS      | $77290.52     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Recruit Holdings Co Ltd                                | Recruit Holdings Co Ltd                                | CUSIP: 000000000<br>LEI: 353800R2LRSMVVC4I806 | Long             | EC               | CORP              | JP        |     23894 | NS      | $1411854.27   | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Kurita Water Industries Ltd                            | Kurita Water Industries Ltd                            | CUSIP: 000000000<br>LEI: 52990086GS2ON69UMX34 | Long             | EC               | CORP              | JP        |      1954 | NS      | $77080.49     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| East Japan Railway Co                                  | East Japan Railway Co                                  | CUSIP: 000000000<br>LEI: 353800SENYJ2DSM6PS44 | Long             | EC               | CORP              | JP        |     18900 | NS      | $406668.28    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| DIC Corp                                               | DIC Corp                                               | CUSIP: 000000000<br>LEI: 549300F1YB9ARLPUKB67 | Long             | EC               | CORP              | JP        |      1567 | NS      | $31465.84     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Yamato Kogyo Co Ltd                                    | Yamato Kogyo Co Ltd                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       658 | NS      | $39914.13     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| OBIC Business Consultants Co Ltd                       | OBIC Business Consultants Co Ltd                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       544 | NS      | $32151.53     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Real Estate Investment Corp                      | Japan Real Estate Investment Corp                      | CUSIP: 000000000<br>LEI: 3538003YAIR3CBGJJ928 | Long             | EC               |  | JP        |       115 | NS      | $93866.18     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| ORIX Corp                                              | ORIX Corp                                              | CUSIP: 000000000<br>LEI: 35380016EMHNBOVYE123 | Long             | EC               | CORP              | JP        |     20100 | NS      | $453639.79    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Hirose Electric Co Ltd                                 | Hirose Electric Co Ltd                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       544 | NS      | $65756.79     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Dexerials Corp                                         | Dexerials Corp                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      2700 | NS      | $41730.42     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| FANUC Corp                                             | FANUC Corp                                             | CUSIP: 000000000<br>LEI: 529900QTSW745LOKW705 | Long             | EC               | CORP              | JP        |     16200 | NS      | $441884.45    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| GS Yuasa Corp                                          | GS Yuasa Corp                                          | CUSIP: 000000000<br>LEI: 353800MW7O6PQQHLDR79 | Long             | EC               | CORP              | JP        |      1661 | NS      | $31001.81     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo Bank NA                                    | PURCHASED JPY / SOLD USD                               | CUSIP: 000000000<br>LEI: KB1H1DSPRFMYMCUFXT09 | N/A              | DFE              |  | JP        |         1 | NC      | $7772.03      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| GMO internet group Inc                                 | GMO internet group Inc                                 | CUSIP: 000000000<br>LEI: 529900BFZEY3BESHBW90 | Long             | EC               | CORP              | JP        |      1110 | NS      | $27718.30     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| FUJI OIL CO LTD /Osaka                                 | FUJI OIL CO LTD /Osaka                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       899 | NS      | $17582.30     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Toho Gas Co Ltd                                        | Toho Gas Co Ltd                                        | CUSIP: 000000000<br>LEI: 353800BCVTE4F8012906 | Long             | EC               | CORP              | JP        |      1467 | NS      | $40797.11     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Shin-Etsu Chemical Co Ltd                              | Shin-Etsu Chemical Co Ltd                              | CUSIP: 000000000<br>LEI: 353800PX8Q64N86H5W41 | Long             | EC               | CORP              | JP        |     34282 | NS      | $1132567.44   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Metropolitan Fund Invest                         | Japan Metropolitan Fund Invest                         | CUSIP: 000000000<br>LEI: 353800QDHNIP60E1LQ93 | Long             | EC               |  | JP        |       108 | NS      | $76264.32     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Hachijuni Bank Ltd/The                                 | Hachijuni Bank Ltd/The                                 | CUSIP: 000000000<br>LEI: FE70I3MHDCWOZWK19W48 | Long             | EC               | CORP              | JP        |      8100 | NS      | $65665.82     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| NTT Data Group Corp                                    | NTT Data Group Corp                                    | CUSIP: 000000000<br>LEI: 353800SZGJGSLJRRWB43 | Long             | EC               | CORP              | JP        |      4529 | NS      | $125386.62    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Post Holdings Co Ltd                             | Japan Post Holdings Co Ltd                             | CUSIP: 000000000<br>LEI: 5299003D9N4JBS256X18 | Long             | EC               | CORP              | JP        |     29700 | NS      | $274598.29    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Fuji Electric Co Ltd                                   | Fuji Electric Co Ltd                                   | CUSIP: 000000000<br>LEI: 5299000HVNGZZTYYM906 | Long             | EC               | CORP              | JP        |      2680 | NS      | $123456.82    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| JGC Holdings Corp                                      | JGC Holdings Corp                                      | CUSIP: 000000000<br>LEI: 5493003WMGG79YLARU68 | Long             | EC               | CORP              | JP        |      2700 | NS      | $23355.95     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Water Inc                                          | Air Water Inc                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      2700 | NS      | $40244.38     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Iwatani Corp                                           | Iwatani Corp                                           | CUSIP: 000000000<br>LEI: 353800TSKIDNENNV2L96 | Long             | EC               | CORP              | JP        |      2700 | NS      | $28627.16     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Nitori Holdings Co Ltd                                 | Nitori Holdings Co Ltd                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1360 | NS      | $131061.65    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Toyota Motor Corp                                      | Toyota Motor Corp                                      | CUSIP: 000000000<br>LEI: 5493006W3QUS5LMH6R84 | Long             | EC               | CORP              | JP        |    188375 | NS      | $3251195.09   | 3.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Nippon Paint Holdings Co Ltd                           | Nippon Paint Holdings Co Ltd                           | CUSIP: 000000000<br>LEI: 529900RYRJUN78A7PL87 | Long             | EC               | CORP              | JP        |     16200 | NS      | $130097.96    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Kyoto Financial Group Inc                              | Kyoto Financial Group Inc                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      4000 | NS      | $71501.26     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| TDK Corp                                               | TDK Corp                                               | CUSIP: 000000000<br>LEI: 3538005O8WNU39U8NX03 | Long             | EC               | CORP              | JP        |     32400 | NS      | $380312.23    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Shizuoka Financial Group Inc                           | Shizuoka Financial Group Inc                           | CUSIP: 000000000<br>LEI: 353800MNO5C8V2SHGA81 | Long             | EC               | CORP              | JP        |      8100 | NS      | $94096.72     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Nikon Corp                                             | Nikon Corp                                             | CUSIP: 000000000<br>LEI: 549300X7LIS9RFELXJ98 | Long             | EC               | CORP              | JP        |      5400 | NS      | $55329.02     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Organo Corp                                            | Organo Corp                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       448 | NS      | $27913.74     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Nippon Building Fund Inc                               | Nippon Building Fund Inc                               | CUSIP: 000000000<br>LEI: 52990053R8NL2MB32172 | Long             | EC               |  | JP        |       135 | NS      | $124209.91    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Sapporo Holdings Ltd                                   | Sapporo Holdings Ltd                                   | CUSIP: 000000000<br>LEI: 353800ITDYV3AD2X5M34 | Long             | EC               | CORP              | JP        |      1151 | NS      | $59149.66     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Nippon Prologis REIT Inc                               | Nippon Prologis REIT Inc                               | CUSIP: 000000000<br>LEI: 353800PHBMSDLAFURY41 | Long             | EC               |  | JP        |       112 | NS      | $61720.38     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Inpex Corp                                             | Inpex Corp                                             | CUSIP: 000000000<br>LEI: 353800VHYYADPR6MXQ47 | Long             | EC               | CORP              | JP        |     14511 | NS      | $203432.28    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Tobacco Inc                                      | Japan Tobacco Inc                                      | CUSIP: 000000000<br>LEI: 353800Z0ENYBQO0XRJ31 | Long             | EC               | CORP              | JP        |     18900 | NS      | $555832.32    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Kansai Paint Co Ltd                                    | Kansai Paint Co Ltd                                    | CUSIP: 000000000<br>LEI: 549300ERRV6FTKH9NN70 | Long             | EC               | CORP              | JP        |      2700 | NS      | $36963.90     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsui OSK Lines Ltd                                   | Mitsui OSK Lines Ltd                                   | CUSIP: 000000000<br>LEI: 353800P8O843TMAZ6S09 | Long             | EC               | CORP              | JP        |      5367 | NS      | $179091.97    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Ono Pharmaceutical Co Ltd                              | Ono Pharmaceutical Co Ltd                              | CUSIP: 000000000<br>LEI: 529900G26L4NG4GFJZ86 | Long             | EC               | CORP              | JP        |      5400 | NS      | $58282.39     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryohin Keikaku Co Ltd                                  | Ryohin Keikaku Co Ltd                                  | CUSIP: 000000000<br>LEI: 549300PMNF56J66BY371 | Long             | EC               | CORP              | JP        |      4226 | NS      | $202603.41    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Seino Holdings Co Ltd                                  | Seino Holdings Co Ltd                                  | CUSIP: 000000000<br>LEI: 3538001D12EPCPYTTF24 | Long             | EC               | CORP              | JP        |      2700 | NS      | $41403.30     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| TS Tech Co Ltd                                         | TS Tech Co Ltd                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1462 | NS      | $17120.52     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Seibu Holdings Inc                                     | Seibu Holdings Inc                                     | CUSIP: 000000000<br>LEI: 353800JY9TYV9WTCN620 | Long             | EC               | CORP              | JP        |      3131 | NS      | $111978.58    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Honda Motor Co Ltd                                     | Honda Motor Co Ltd                                     | CUSIP: 000000000<br>LEI: 549300P7ZYCQJ36CCS16 | Long             | EC               | CORP              | JP        |     72900 | NS      | $703790.72    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Exchange Group Inc                               | Japan Exchange Group Inc                               | CUSIP: 000000000<br>LEI: 353800578ADEGIJTVW07 | Long             | EC               | CORP              | JP        |     18900 | NS      | $191100.07    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Bottlers Japan Holdings Inc                  | Coca-Cola Bottlers Japan Holdings Inc                  | CUSIP: 000000000<br>LEI: 353800XN1G90665VTQ16 | Long             | EC               | CORP              | JP        |      2700 | NS      | $43468.79     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Odakyu Electric Railway Co Ltd                         | Odakyu Electric Railway Co Ltd                         | CUSIP: 000000000<br>LEI: 353800LA6BC6E1MK6U35 | Long             | EC               | CORP              | JP        |      5400 | NS      | $63030.22     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| NOF Corp                                               | NOF Corp                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      3790 | NS      | $72562.19     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Bandai Namco Holdings Inc                              | Bandai Namco Holdings Inc                              | CUSIP: 000000000<br>LEI: 3538008EFEM34VRJDQ95 | Long             | EC               | CORP              | JP        |      9778 | NS      | $350043.53    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Tohoku Electric Power Co Inc                           | Tohoku Electric Power Co Inc                           | CUSIP: 000000000<br>LEI: 353800KTF7EYIIYHY088 | Long             | EC               | CORP              | JP        |      8100 | NS      | $58908.58     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Industrial & Infrastructure Fund Investment Corp       | Industrial & Infrastructure Fund Investment Corp       | CUSIP: 000000000<br>LEI: 353800WCHFY04YKYCI19 | Long             | EC               |  | JP        |        54 | NS      | $45422.13     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Rengo Co Ltd                                           | Rengo Co Ltd                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      2700 | NS      | $14606.11     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| SUMCO Corp                                             | SUMCO Corp                                             | CUSIP: 000000000<br>LEI: 353800SUSRUOM0V6KU92 | Long             | EC               | CORP              | JP        |      5400 | NS      | $42431.38     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Kajima Corp                                            | Kajima Corp                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      8100 | NS      | $211016.65    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| West Japan Railway Co                                  | West Japan Railway Co                                  | CUSIP: 000000000<br>LEI: 353800QGUXHZ7EBCR121 | Long             | EC               | CORP              | JP        |      8100 | NS      | $185165.29    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Nabtesco Corp                                          | Nabtesco Corp                                          | CUSIP: 000000000<br>LEI: 529900DVHQXYRTGW7739 | Long             | EC               | CORP              | JP        |      2700 | NS      | $48254.01     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokai Carbon Co Ltd                                    | Tokai Carbon Co Ltd                                    | CUSIP: 000000000<br>LEI: 5299002HKWA5B57KLT43 | Long             | EC               | CORP              | JP        |      2700 | NS      | $19038.04     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Teijin Ltd                                             | Teijin Ltd                                             | CUSIP: 000000000<br>LEI: 3538000RF6UCIMPKCO54 | Long             | EC               | CORP              | JP        |      2700 | NS      | $21832.53     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Toho Co Ltd/Tokyo                                      | Toho Co Ltd/Tokyo                                      | CUSIP: 000000000<br>LEI: 529900IYHHYWU4O3H185 | Long             | EC               | CORP              | JP        |      1894 | NS      | $111585.31    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsui Fudosan Logistics Park Inc                      | Mitsui Fudosan Logistics Park Inc                      | CUSIP: 000000000<br>LEI: 353800DN63EIYS760S59 | Long             | EC               |  | JP        |        47 | NS      | $34002.56     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| PeptiDream Inc                                         | PeptiDream Inc                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1686 | NS      | $19200.87     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Airport Terminal Co Ltd                          | Japan Airport Terminal Co Ltd                          | CUSIP: 000000000<br>LEI: 353800W9WEQSGUY2EO26 | Long             | EC               | CORP              | JP        |      1301 | NS      | $41476.72     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| TBS Holdings Inc                                       | TBS Holdings Inc                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       598 | NS      | $20948.32     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Credit Saison Co Ltd                                   | Credit Saison Co Ltd                                   | CUSIP: 000000000<br>LEI: 529900SV58ZWTGRH3A66 | Long             | EC               | CORP              | JP        |      2700 | NS      | $72899.72     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| NIDEC CORP                                             | NIDEC CORP                                             | CUSIP: 000000000<br>LEI: 353800IF171MZTNL6Y31 | Long             | EC               | CORP              | JP        |     16154 | NS      | $313697.05    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Kobe Steel Ltd                                         | Kobe Steel Ltd                                         | CUSIP: 000000000<br>LEI: 549300ZDCYYUPHEE5K87 | Long             | EC               | CORP              | JP        |      5400 | NS      | $58843.16     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Asahi Intecc Co Ltd                                    | Asahi Intecc Co Ltd                                    | CUSIP: 000000000<br>LEI: 353800J3AV2SCNIO8L39 | Long             | EC               | CORP              | JP        |      3375 | NS      | $53354.65     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Mebuki Financial Group Inc                             | Mebuki Financial Group Inc                             | CUSIP: 000000000<br>LEI: 353800K1RXV3E3JAE812 | Long             | EC               | CORP              | JP        |     16200 | NS      | $84462.74     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Sekisui House Ltd                                      | Sekisui House Ltd                                      | CUSIP: 000000000<br>LEI: 529900GMNDOYQSAJAE76 | Long             | EC               | CORP              | JP        |     10816 | NS      | $238342.12    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| FP Corp                                                | FP Corp                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       876 | NS      | $16095.43     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi Chemical Group Corp                         | Mitsubishi Chemical Group Corp                         | CUSIP: 000000000<br>LEI: 353800YNKX4RQUGAR072 | Long             | EC               | CORP              | JP        |     24300 | NS      | $127518.43    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi Estate Co Ltd                               | Mitsubishi Estate Co Ltd                               | CUSIP: 000000000<br>LEI: 353800KOFMRGOXSJ5Z65 | Long             | EC               | CORP              | JP        |     19723 | NS      | $369076.60    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Niterra Co Ltd                                         | Niterra Co Ltd                                         | CUSIP: 000000000<br>LEI: 549300RG3XQGTFM4HH31 | Long             | EC               | CORP              | JP        |      2636 | NS      | $87595.97     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| JTEKT Corp                                             | JTEKT Corp                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      2700 | NS      | $22206.38     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| FUJIFILM Holdings Corp                                 | FUJIFILM Holdings Corp                                 | CUSIP: 000000000<br>LEI: 529900UBKMFM0ST6H474 | Long             | EC               | CORP              | JP        |     20337 | NS      | $442374.98    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Mitsui Financial Group Inc                    | Sumitomo Mitsui Financial Group Inc                    | CUSIP: 000000000<br>LEI: 35380028MYWPB6AUO129 | Long             | EC               | CORP              | JP        |     65300 | NS      | $1642841.22   | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Kose Corp                                              | Kose Corp                                              | CUSIP: 000000000<br>LEI: 353800NX4GGAVDHHY664 | Long             | EC               | CORP              | JP        |       676 | NS      | $26502.74     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Nihon M&A Center Holdings Inc                          | Nihon M&A Center Holdings Inc                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      5400 | NS      | $27343.00     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Komatsu Ltd                                            | Komatsu Ltd                                            | CUSIP: 000000000<br>LEI: 5493004LQ0B4T7QPQV17 | Long             | EC               | CORP              | JP        |     16236 | NS      | $532451.33    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Sojitz Corp                                            | Sojitz Corp                                            | CUSIP: 000000000<br>LEI: 5493004SE33MRLPB1W98 | Long             | EC               | CORP              | JP        |      3641 | NS      | $89358.20     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Suzuki Motor Corp                                      | Suzuki Motor Corp                                      | CUSIP: 000000000<br>LEI: 353800D83H0V3ZV1SV24 | Long             | EC               | CORP              | JP        |     30858 | NS      | $372359.68    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Money Forward Inc                                      | Money Forward Inc                                      | CUSIP: 000000000<br>LEI: 35380017JS3GIGP6WN95 | Long             | EC               | CORP              | JP        |       784 | NS      | $26622.73     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Chubu Electric Power Co Inc                            | Chubu Electric Power Co Inc                            | CUSIP: 000000000<br>LEI: 529900A76GOP0PGNHT63 | Long             | EC               | CORP              | JP        |     13500 | NS      | $166454.36    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Hoya Corp                                              | Hoya Corp                                              | CUSIP: 000000000<br>LEI: 353800X4VR3BHEUCJB42 | Long             | EC               | CORP              | JP        |      5994 | NS      | $711876.98    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corp Japan                                      | Oracle Corp Japan                                      | CUSIP: 000000000<br>LEI: 529900MIMKY9RU60Z323 | Long             | EC               | CORP              | JP        |       567 | NS      | $67457.48     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Horiba Ltd                                             | Horiba Ltd                                             | CUSIP: 000000000<br>LEI: 529900OOTWPYSNW0EC84 | Long             | EC               | CORP              | JP        |       600 | NS      | $46751.36     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| SG Holdings Co Ltd                                     | SG Holdings Co Ltd                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      8100 | NS      | $90087.23     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Kadokawa Corp                                          | Kadokawa Corp                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1946 | NS      | $53929.44     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Kobayashi Pharmaceutical Co Ltd                        | Kobayashi Pharmaceutical Co Ltd                        | CUSIP: 000000000<br>LEI: 529900WBSL04KD6TKP95 | Long             | EC               | CORP              | JP        |      1118 | NS      | $41741.66     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Toei Animation Co Ltd                                  | Toei Animation Co Ltd                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1011 | NS      | $22992.38     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Daiwa Office Investment Corp                           | Daiwa Office Investment Corp                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | JP        |         8 | NS      | $17695.32     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Tosoh Corp                                             | Tosoh Corp                                             | CUSIP: 000000000<br>LEI: 529900YSLFVJF2MDBX02 | Long             | EC               | CORP              | JP        |      5400 | NS      | $78881.24     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Yaskawa Electric Corp                                  | Yaskawa Electric Corp                                  | CUSIP: 000000000<br>LEI: 3538003K39GR98R0CK58 | Long             | EC               | CORP              | JP        |      4583 | NS      | $103719.94    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Rohm Co Ltd                                            | Rohm Co Ltd                                            | CUSIP: 000000000<br>LEI: 5493009V2FGDEP7JFE59 | Long             | EC               | CORP              | JP        |      5400 | NS      | $68675.27     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Lasertec Corp                                          | Lasertec Corp                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1404 | NS      | $188664.47    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Makita Corp                                            | Makita Corp                                            | CUSIP: 000000000<br>LEI: 529900CDR9E94BCM6294 | Long             | EC               | CORP              | JP        |      4339 | NS      | $133764.18    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Keikyu Corp                                            | Keikyu Corp                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      2700 | NS      | $28103.78     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Nifco Inc/Japan                                        | Nifco Inc/Japan                                        | CUSIP: 000000000<br>LEI: 353800JMDOH68J9I5140 | Long             | EC               | CORP              | JP        |      1462 | NS      | $34615.53     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Sugi Holdings Co Ltd                                   | Sugi Holdings Co Ltd                                   | CUSIP: 000000000<br>LEI: 529900N86BFWB1FADG87 | Long             | EC               | CORP              | JP        |      1598 | NS      | $36452.70     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Toridoll Holdings Corp                                 | Toridoll Holdings Corp                                 | CUSIP: 000000000<br>LEI: 3538002L9PBNUQXICM82 | Long             | EC               | CORP              | JP        |       675 | NS      | $19486.66     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Nissan Chemical Corp                                   | Nissan Chemical Corp                                   | CUSIP: 000000000<br>LEI: 3538002E4L1CUGJFFU25 | Long             | EC               | CORP              | JP        |      2726 | NS      | $83056.71     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Nippon Steel Corp                                      | Nippon Steel Corp                                      | CUSIP: 000000000<br>LEI: 35380065QWQ4U2V3PA33 | Long             | EC               | CORP              | JP        |     17600 | NS      | $333004.26    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| MonotaRO Co Ltd                                        | MonotaRO Co Ltd                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      4386 | NS      | $86387.00     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Daido Steel Co Ltd                                     | Daido Steel Co Ltd                                     | CUSIP: 000000000<br>LEI: 353800WZKGRNG0T2FR92 | Long             | EC               | CORP              | JP        |      2700 | NS      | $18611.86     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| ANA Holdings Inc                                       | ANA Holdings Inc                                       | CUSIP: 000000000<br>LEI: 5493008IRKIY0G3TE305 | Long             | EC               | CORP              | JP        |      2700 | NS      | $52758.84     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Nippon Shokubai Co Ltd                                 | Nippon Shokubai Co Ltd                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      2700 | NS      | $30730.04     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Food & Life Cos Ltd                                    | Food & Life Cos Ltd                                    | CUSIP: 000000000<br>LEI: 529900CWF7GCVZKS5M87 | Long             | EC               | CORP              | JP        |      2044 | NS      | $99267.26     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Chugoku Electric Power Co Inc/The                      | Chugoku Electric Power Co Inc/The                      | CUSIP: 000000000<br>LEI: 353800MV866ELME96Q46 | Long             | EC               | CORP              | JP        |      5400 | NS      | $26655.13     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Konami Group Corp                                      | Konami Group Corp                                      | CUSIP: 000000000<br>LEI: 353800FC4A5QCMIZFV94 | Long             | EC               | CORP              | JP        |      1615 | NS      | $255088.27    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Bridgestone Corp                                       | Bridgestone Corp                                       | CUSIP: 000000000<br>LEI: 549300DHPOF90OYYD780 | Long             | EC               | CORP              | JP        |      9893 | NS      | $404089.45    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| SoftBank Group Corp                                    | SoftBank Group Corp                                    | CUSIP: 000000000<br>LEI: 5493003BZYYYCDIO0R13 | Long             | EC               | CORP              | JP        |     17299 | NS      | $1259295.82   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Sompo Holdings Inc                                     | Sompo Holdings Inc                                     | CUSIP: 000000000<br>LEI: 353800CWW4SRGEYEB512 | Long             | EC               | CORP              | JP        |     16227 | NS      | $488118.76    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| AEON Financial Service Co Ltd                          | AEON Financial Service Co Ltd                          | CUSIP: 000000000<br>LEI: 35380044PRFENBU7WT74 | Long             | EC               | CORP              | JP        |      2700 | NS      | $24010.18     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Isuzu Motors Ltd                                       | Isuzu Motors Ltd                                       | CUSIP: 000000000<br>LEI: 529900C0QSXVCC7AR494 | Long             | EC               | CORP              | JP        |      9258 | NS      | $117323.33    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi Electric Corp                               | Mitsubishi Electric Corp                               | CUSIP: 000000000<br>LEI: 549300TRXM9Y6561AX39 | Long             | EC               | CORP              | JP        |     35083 | NS      | $755603.95    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Nippon Shinyaku Co Ltd                                 | Nippon Shinyaku Co Ltd                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       884 | NS      | $19253.45     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| ENEOS Holdings Inc                                     | ENEOS Holdings Inc                                     | CUSIP: 000000000<br>LEI: 3538001KQ5SAOZSQTT44 | Long             | EC               | CORP              | JP        |     45900 | NS      | $227235.90    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Kyushu Electric Power Co Inc                           | Kyushu Electric Power Co Inc                           | CUSIP: 000000000<br>LEI: 549300BYNZPLKQVQH430 | Long             | EC               | CORP              | JP        |      8100 | NS      | $72198.76     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| TOTO Ltd                                               | TOTO Ltd                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      2700 | NS      | $67964.97     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Omron Corp                                             | Omron Corp                                             | CUSIP: 000000000<br>LEI: 549300ZHW0TR2QZ0NY83 | Long             | EC               | CORP              | JP        |      3412 | NS      | $91981.92     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Logistics Fund Inc                               | Japan Logistics Fund Inc                               | CUSIP: 000000000<br>LEI: 3538004KZWISCQO70151 | Long             | EC               |  | JP        |        40 | NS      | $25892.21     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| SCREEN Holdings Co Ltd                                 | SCREEN Holdings Co Ltd                                 | CUSIP: 000000000<br>LEI: 353800ND89FTQ9XQ0R07 | Long             | EC               | CORP              | JP        |      1409 | NS      | $114713.84    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Toyota Industries Corp                                 | Toyota Industries Corp                                 | CUSIP: 000000000<br>LEI: 35380000WKGEAHEMW830 | Long             | EC               | CORP              | JP        |      3024 | NS      | $341245.46    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Corp                                          | Sumitomo Corp                                          | CUSIP: 000000000<br>LEI: V82KK8NH1P0JS71FJC05 | Long             | EC               | CORP              | JP        |     17758 | NS      | $458441.50    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Shiseido Co Ltd                                        | Shiseido Co Ltd                                        | CUSIP: 000000000<br>LEI: 5299008QCD0YDT5OF506 | Long             | EC               | CORP              | JP        |      6878 | NS      | $122541.68    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Fuji Media Holdings Inc                                | Fuji Media Holdings Inc                                | CUSIP: 000000000<br>LEI: 353800TG2T8DSPV7H313 | Long             | EC               | CORP              | JP        |      1000 | NS      | $23046.83     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Unicharm Corp                                          | Unicharm Corp                                          | CUSIP: 000000000<br>LEI: 353800UQ4BZIJTAQEG85 | Long             | EC               | CORP              | JP        |     21600 | NS      | $155594.17    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Steel Works Ltd/The                              | Japan Steel Works Ltd/The                              | CUSIP: 000000000<br>LEI: 529900AWFTILIHHO0936 | Long             | EC               | CORP              | JP        |      1009 | NS      | $57775.89     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Chiba Bank Ltd/The                                     | Chiba Bank Ltd/The                                     | CUSIP: 000000000<br>LEI: FGJPAKKCTZVSKZXNBS63 | Long             | EC               | CORP              | JP        |     10800 | NS      | $99779.15     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Stanley Electric Co Ltd                                | Stanley Electric Co Ltd                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      2700 | NS      | $53338.29     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| AGC Inc                                                | AGC Inc                                                | CUSIP: 000000000<br>LEI: JE4WFFEELMVPFZ0G1E77 | Long             | EC               | CORP              | JP        |      3100 | NS      | $90717.57     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Medipal Holdings Corp                                  | Medipal Holdings Corp                                  | CUSIP: 000000000<br>LEI: 353800PJDODZEA4NP730 | Long             | EC               | CORP              | JP        |      2700 | NS      | $43683.76     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Casio Computer Co Ltd                                  | Casio Computer Co Ltd                                  | CUSIP: 000000000<br>LEI: 353800JRMIABSXKHV344 | Long             | EC               | CORP              | JP        |      2700 | NS      | $20561.46     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Kaneka Corp                                            | Kaneka Corp                                            | CUSIP: 000000000<br>LEI: 529900FWWCF6RY313R16 | Long             | EC               | CORP              | JP        |       778 | NS      | $21436.81     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Nissan Motor Co Ltd                                    | Nissan Motor Co Ltd                                    | CUSIP: 000000000<br>LEI: 353800DRBDH1LUTNAY26 | Long             | EC               | CORP              | JP        |     35100 | NS      | $85098.27     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Nipro Corp                                             | Nipro Corp                                             | CUSIP: 000000000<br>LEI: 353800AKDDNW0E810O26 | Long             | EC               | CORP              | JP        |      2700 | NS      | $23860.64     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Koei Tecmo Holdings Co Ltd                             | Koei Tecmo Holdings Co Ltd                             | CUSIP: 000000000<br>LEI: 353800RQ25FIYLPYXP11 | Long             | EC               | CORP              | JP        |      2700 | NS      | $44038.91     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Nippon Kayaku Co Ltd                                   | Nippon Kayaku Co Ltd                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      2700 | NS      | $24206.45     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Kagome Co Ltd                                          | Kagome Co Ltd                                          | CUSIP: 000000000<br>LEI: 549300QC5KRGKXSZKO90 | Long             | EC               | CORP              | JP        |      1598 | NS      | $31756.44     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Yamazaki Baking Co Ltd                                 | Yamazaki Baking Co Ltd                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      2700 | NS      | $60357.23     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Sysmex Corp                                            | Sysmex Corp                                            | CUSIP: 000000000<br>LEI: 5299001ZO4CKWACMZI55 | Long             | EC               | CORP              | JP        |      8100 | NS      | $140976.84    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Osaka Exchange                                         | MINI TPX IDX FUT SEP25                                 | CUSIP: 000000000<br>LEI: 3538001249AILNPRUX57 | N/A              | DE               |  | JP        |        54 | NC      | $22898.69     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Iida Group Holdings Co Ltd                             | Iida Group Holdings Co Ltd                             | CUSIP: 000000000<br>LEI: 35380051BV8PV1I4S949 | Long             | EC               | CORP              | JP        |      2700 | NS      | $37991.97     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| SBI Sumishin Net Bank Ltd                              | SBI Sumishin Net Bank Ltd                              | CUSIP: 000000000<br>LEI: 353800P95LC9U3FF6963 | Long             | EC               | CORP              | JP        |       787 | NS      | $26615.63     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Asics Corp                                             | Asics Corp                                             | CUSIP: 000000000<br>LEI: 3538002LJMRZ83SU0B85 | Long             | EC               | CORP              | JP        |     11800 | NS      | $300626.54    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Activia Properties Inc                                 | Activia Properties Inc                                 | CUSIP: 000000000<br>LEI: 353800RPGYN3ML8CXV54 | Long             | EC               |  | JP        |        36 | NS      | $30580.50     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Toyo Suisan Kaisha Ltd                                 | Toyo Suisan Kaisha Ltd                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1633 | NS      | $108361.69    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Panasonic Holdings Corp                                | Panasonic Holdings Corp                                | CUSIP: 000000000<br>LEI: 254900GE1G59KGWPHX32 | Long             | EC               | CORP              | JP        |     40500 | NS      | $436136.59    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Kotobuki Spirits Co Ltd                                | Kotobuki Spirits Co Ltd                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1686 | NS      | $24015.68     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Yamaha Corp                                            | Yamaha Corp                                            | CUSIP: 000000000<br>LEI: 529900S5TENP3IJS7S02 | Long             | EC               | CORP              | JP        |      5400 | NS      | $38973.31     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Hulic Co Ltd                                           | Hulic Co Ltd                                           | CUSIP: 000000000<br>LEI: 3538002E12E7IHAKTB10 | Long             | EC               | CORP              | JP        |      8100 | NS      | $81451.42     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi HC Capital Inc                              | Mitsubishi HC Capital Inc                              | CUSIP: 000000000<br>LEI: 353800MZ3QX9RLMH7B09 | Long             | EC               | CORP              | JP        |     13500 | NS      | $99115.58     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Terumo Corp                                            | Terumo Corp                                            | CUSIP: 000000000<br>LEI: 353800JX1R4582QVK932 | Long             | EC               | CORP              | JP        |     25400 | NS      | $465990.52    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Morinaga Milk Industry Co Ltd                          | Morinaga Milk Industry Co Ltd                          | CUSIP: 000000000<br>LEI: 529900FB91P7MVO08949 | Long             | EC               | CORP              | JP        |      1383 | NS      | $30992.91     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| CyberAgent Inc                                         | CyberAgent Inc                                         | CUSIP: 000000000<br>LEI: 3538006T5KZABPGS8Q08 | Long             | EC               | CORP              | JP        |      8100 | NS      | $92526.57     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Sundrug Co Ltd                                         | Sundrug Co Ltd                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1188 | NS      | $37084.65     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Ajinomoto Co Inc                                       | Ajinomoto Co Inc                                       | CUSIP: 000000000<br>LEI: 353800UT0TLROREPIC92 | Long             | EC               | CORP              | JP        |     17100 | NS      | $462763.68    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Takeda Pharmaceutical Co Ltd                           | Takeda Pharmaceutical Co Ltd                           | CUSIP: 000000000<br>LEI: 549300ZLMVP4X0OGR454 | Long             | EC               | CORP              | JP        |     27604 | NS      | $845634.67    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Shimano Inc                                            | Shimano Inc                                            | CUSIP: 000000000<br>LEI: 529900L32YT3P9DECR10 | Long             | EC               | CORP              | JP        |      1391 | NS      | $201314.38    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Idemitsu Kosan Co Ltd                                  | Idemitsu Kosan Co Ltd                                  | CUSIP: 000000000<br>LEI: 549300P0R46FF6DUA630 | Long             | EC               | CORP              | JP        |     13500 | NS      | $81778.53     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Maruwa Co Ltd/Aichi                                    | Maruwa Co Ltd/Aichi                                    | CUSIP: 000000000<br>LEI: 3538009BXGIG8PFXNI29 | Long             | EC               | CORP              | JP        |       135 | NS      | $38636.85     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Koito Manufacturing Co Ltd                             | Koito Manufacturing Co Ltd                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      2700 | NS      | $32234.76     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Brother Industries Ltd                                 | Brother Industries Ltd                                 | CUSIP: 000000000<br>LEI: 549300O5FACQ67KI6R92 | Long             | EC               | CORP              | JP        |      4004 | NS      | $69050.25     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| TIS Inc                                                | TIS Inc                                                | CUSIP: 000000000<br>LEI: 35380064HYEZXBQHDF07 | Long             | EC               | CORP              | JP        |      3976 | NS      | $133171.02    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Hoshizaki Corp                                         | Hoshizaki Corp                                         | CUSIP: 000000000<br>LEI: 5299001QAMLGU3SRBG20 | Long             | EC               | CORP              | JP        |      2139 | NS      | $73686.62     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Mizuho Financial Group Inc                             | Mizuho Financial Group Inc                             | CUSIP: 000000000<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | EC               | CORP              | JP        |     43159 | NS      | $1193076.17   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Rakuten Group Inc                                      | Rakuten Group Inc                                      | CUSIP: 000000000<br>LEI: 529900IMXUCQKUL1H943 | Long             | EC               | CORP              | JP        |     24300 | NS      | $133978.47    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Nintendo Co Ltd                                        | Nintendo Co Ltd                                        | CUSIP: 000000000<br>LEI: 353800FEEXU6I9M0ZF27 | Long             | EC               | CORP              | JP        |     17788 | NS      | $1709283.40   | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Marui Group Co Ltd                                     | Marui Group Co Ltd                                     | CUSIP: 000000000<br>LEI: 52990081ZYFHQZEEMU57 | Long             | EC               | CORP              | JP        |      2648 | NS      | $56206.64     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| MatsukiyoCocokara & Co                                 | MatsukiyoCocokara & Co                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      6187 | NS      | $127106.67    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Nippon Electric Glass Co Ltd                           | Nippon Electric Glass Co Ltd                           | CUSIP: 000000000<br>LEI: 529900NCIGSAX4V03234 | Long             | EC               | CORP              | JP        |      1303 | NS      | $30905.04     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| KDDI Corp                                              | KDDI Corp                                              | CUSIP: 000000000<br>LEI: 5299003FU7V4I45FU310 | Long             | EC               | CORP              | JP        |     50800 | NS      | $872193.57    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Zenkoku Hosho Co Ltd                                   | Zenkoku Hosho Co Ltd                                   | CUSIP: 000000000<br>LEI: 353800VOQEKTSCSL9O03 | Long             | EC               | CORP              | JP        |      2002 | NS      | $44809.21     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Toyota Boshoku Corp                                    | Toyota Boshoku Corp                                    | CUSIP: 000000000<br>LEI: 529900KS87U6EY7PWG26 | Long             | EC               | CORP              | JP        |      1032 | NS      | $14053.40     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Seven & i Holdings Co Ltd                              | Seven & i Holdings Co Ltd                              | CUSIP: 000000000<br>LEI: 52990037G8JRM3TWGY86 | Long             | EC               | CORP              | JP        |     40500 | NS      | $651330.96    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Frontier Real Estate Investment Corp                   | Frontier Real Estate Investment Corp                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | JP        |        38 | NS      | $21598.53     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Shionogi & Co Ltd                                      | Shionogi & Co Ltd                                      | CUSIP: 000000000<br>LEI: 35380049VXDTHZI3DY35 | Long             | EC               | CORP              | JP        |     13100 | NS      | $235254.94    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Sekisui House Reit Inc                                 | Sekisui House Reit Inc                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | JP        |        81 | NS      | $42562.22     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| NS Solutions Corp                                      | NS Solutions Corp                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1200 | NS      | $33878.64     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Kyocera Corp                                           | Kyocera Corp                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     24300 | NS      | $291626.92    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Yokogawa Electric Corp                                 | Yokogawa Electric Corp                                 | CUSIP: 000000000<br>LEI: 529900MV0U7C9WWF4L22 | Long             | EC               | CORP              | JP        |      4266 | NS      | $113852.54    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Workman Co Ltd                                         | Workman Co Ltd                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       372 | NS      | $16250.61     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinden Corp                                            | Kinden Corp                                            | CUSIP: 000000000<br>LEI: 35380008T6JUN5TU9T34 | Long             | EC               | CORP              | JP        |      2122 | NS      | $62303.31     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Invincible Investment Corp                             | Invincible Investment Corp                             | CUSIP: 000000000<br>LEI: 353800JY6M2692VAV685 | Long             | EC               |  | JP        |       135 | NS      | $57945.93     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Forestry Co Ltd                               | Sumitomo Forestry Co Ltd                               | CUSIP: 000000000<br>LEI: 549300FIIRGO6D5FWR19 | Long             | EC               | CORP              | JP        |      8100 | NS      | $81787.88     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Chemical Co Ltd                               | Sumitomo Chemical Co Ltd                               | CUSIP: 000000000<br>LEI: 353800RSAU9BD8U4DM91 | Long             | EC               | CORP              | JP        |     24300 | NS      | $58628.20     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| K's Holdings Corp                                      | K's Holdings Corp                                      | CUSIP: 000000000<br>LEI: 3538003LJ09YLR6NHG27 | Long             | EC               | CORP              | JP        |      2700 | NS      | $27384.13     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Zeon Corp                                              | Zeon Corp                                              | CUSIP: 000000000<br>LEI: 529900UEFURDYZ4F4U10 | Long             | EC               | CORP              | JP        |      2700 | NS      | $27374.78     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Kintetsu Group Holdings Co Ltd                         | Kintetsu Group Holdings Co Ltd                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      3148 | NS      | $59496.97     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumitomo Electric Industries Ltd                       | Sumitomo Electric Industries Ltd                       | CUSIP: 000000000<br>LEI: 5493005SP87FL5TOS202 | Long             | EC               | CORP              | JP        |     13500 | NS      | $289262.35    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| NEC Corp                                               | NEC Corp                                               | CUSIP: 000000000<br>LEI: 5493000QYMPFRTEY4K28 | Long             | EC               | CORP              | JP        |     21600 | NS      | $630900.34    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| BayCurrent Inc                                         | BayCurrent Inc                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      2411 | NS      | $123850.74    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi Gas Chemical Co Inc                         | Mitsubishi Gas Chemical Co Inc                         | CUSIP: 000000000<br>LEI: 529900G5O4J27ZPLJJ89 | Long             | EC               | CORP              | JP        |      2660 | NS      | $40799.13     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Alfresa Holdings Corp                                  | Alfresa Holdings Corp                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      2700 | NS      | $36851.74     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Hitachi Construction Machinery Co Ltd                  | Hitachi Construction Machinery Co Ltd                  | CUSIP: 000000000<br>LEI: 5493009B7C53PDH8W826 | Long             | EC               | CORP              | JP        |      1920 | NS      | $57156.70     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Taisei Corp                                            | Taisei Corp                                            | CUSIP: 000000000<br>LEI: 529900TF7XJKIOWMLQ79 | Long             | EC               | CORP              | JP        |      2731 | NS      | $158817.54    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Rakus Co Ltd                                           | Rakus Co Ltd                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1755 | NS      | $28145.37     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Yamato Holdings Co Ltd                                 | Yamato Holdings Co Ltd                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      5400 | NS      | $72152.03     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Itoham Yonekyu Holdings Inc                            | Itoham Yonekyu Holdings Inc                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       600 | NS      | $20353.77     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Shikoku Electric Power Co Inc                          | Shikoku Electric Power Co Inc                          | CUSIP: 000000000<br>LEI: 353800KWK6U7ZCIWXS64 | Long             | EC               | CORP              | JP        |      2700 | NS      | $22570.87     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Kyowa Kirin Co Ltd                                     | Kyowa Kirin Co Ltd                                     | CUSIP: 000000000<br>LEI: 529900TBXKVTQGYA3582 | Long             | EC               | CORP              | JP        |      4251 | NS      | $72559.39     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Miura Co Ltd                                           | Miura Co Ltd                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1708 | NS      | $34326.73     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Chugin Financial Group Inc                             | Chugin Financial Group Inc                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      2700 | NS      | $32645.99     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Kawasaki Heavy Industries Ltd                          | Kawasaki Heavy Industries Ltd                          | CUSIP: 000000000<br>LEI: 5493008FFSI8SQ74AT93 | Long             | EC               | CORP              | JP        |      2700 | NS      | $203745.37    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Hankyu Hanshin Holdings Inc                            | Hankyu Hanshin Holdings Inc                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      3828 | NS      | $103885.63    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Hino Motors Ltd                                        | Hino Motors Ltd                                        | CUSIP: 000000000<br>LEI: 3538009ZU0PHKNHJM202 | Long             | EC               | CORP              | JP        |      2700 | NS      | $6710.51      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| MEIJI Holdings Co Ltd                                  | MEIJI Holdings Co Ltd                                  | CUSIP: 000000000<br>LEI: 5299002D52YIP6DWMV49 | Long             | EC               | CORP              | JP        |      4148 | NS      | $91520.48     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Kobe Bussan Co Ltd                                     | Kobe Bussan Co Ltd                                     | CUSIP: 000000000<br>LEI: 353800CJIFNHN2DXRD59 | Long             | EC               | CORP              | JP        |      2700 | NS      | $83703.83     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokyo Seimitsu Co Ltd                                  | Tokyo Seimitsu Co Ltd                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       648 | NS      | $43125.23     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Rorze Corp                                             | Rorze Corp                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1686 | NS      | $23963.16     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Kansai Electric Power Co Inc/The                       | Kansai Electric Power Co Inc/The                       | CUSIP: 000000000<br>LEI: 353800PFUKP5ONPJNZ86 | Long             | EC               | CORP              | JP        |     16200 | NS      | $191670.19    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Relo Group Inc                                         | Relo Group Inc                                         | CUSIP: 000000000<br>LEI: 353800T595XRZDA8IB59 | Long             | EC               | CORP              | JP        |      2700 | NS      | $31935.68     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokio Marine Holdings Inc                              | Tokio Marine Holdings Inc                              | CUSIP: 000000000<br>LEI: 5299009QN2NZ191KLS29 | Long             | EC               | CORP              | JP        |     32536 | NS      | $1376492.76   | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Obic Co Ltd                                            | Obic Co Ltd                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      5870 | NS      | $228021.53    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| GMO Payment Gateway Inc                                | GMO Payment Gateway Inc                                | CUSIP: 000000000<br>LEI: 353800Q6U21E2PM83F86 | Long             | EC               | CORP              | JP        |       682 | NS      | $44103.72     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Iyogin Holdings Inc                                    | Iyogin Holdings Inc                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      5400 | NS      | $59160.93     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Prime Realty Investment Corp                     | Japan Prime Realty Investment Corp                     | CUSIP: 000000000<br>LEI: 353800NJOQJAY1ODEX72 | Long             | EC               |  | JP        |        60 | NS      | $38464.47     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Toda Corp                                              | Toda Corp                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      2700 | NS      | $17118.35     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Obayashi Corp                                          | Obayashi Corp                                          | CUSIP: 000000000<br>LEI: 529900YT4O5S0LCXWD54 | Long             | EC               | CORP              | JP        |     10800 | NS      | $163407.53    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Nippon Yusen KK                                        | Nippon Yusen KK                                        | CUSIP: 000000000<br>LEI: 353800YPW4XM0ZN5I149 | Long             | EC               | CORP              | JP        |      7347 | NS      | $263880.62    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Tsumura & Co                                           | Tsumura & Co                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1117 | NS      | $26880.07     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Fast Retailing Co Ltd                                  | Fast Retailing Co Ltd                                  | CUSIP: 000000000<br>LEI: 353800ZCXKHDPY0N5218 | Long             | EC               | CORP              | JP        |      3186 | NS      | $1092254.63   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Denso Corp                                             | Denso Corp                                             | CUSIP: 000000000<br>LEI: 549300RYPA10CQM3QK38 | Long             | EC               | CORP              | JP        |     32800 | NS      | $442911.83    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| SHIFT Inc                                              | SHIFT Inc                                              | CUSIP: 000000000<br>LEI: 353800HJXMOPLJ7BO262 | Long             | EC               | CORP              | JP        |      2700 | NS      | $32674.03     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi Motors Corp                                 | Mitsubishi Motors Corp                                 | CUSIP: 000000000<br>LEI: 5299006ZTN6MO1N5BR16 | Long             | EC               | CORP              | JP        |     10800 | NS      | $30543.11     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Sharp Corp/Japan                                       | Sharp Corp/Japan                                       | CUSIP: 000000000<br>LEI: 353800YEPK9PD7QO3449 | Long             | EC               | CORP              | JP        |      5400 | NS      | $26221.47     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Mori Hills REIT Investment Corp                        | Mori Hills REIT Investment Corp                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | JP        |        27 | NS      | $25010.21     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Ulvac Inc                                              | Ulvac Inc                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       844 | NS      | $31003.25     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Keihan Holdings Co Ltd                                 | Keihan Holdings Co Ltd                                 | CUSIP: 000000000<br>LEI: 353800ADZSZ9AD39RL13 | Long             | EC               | CORP              | JP        |      1757 | NS      | $37148.24     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Takasago Thermal Engineering Co Ltd                    | Takasago Thermal Engineering Co Ltd                    | CUSIP: 000000000<br>LEI: 353800VL9UEB0RUJLC67 | Long             | EC               | CORP              | JP        |      1011 | NS      | $49603.36     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Dowa Holdings Co Ltd                                   | Dowa Holdings Co Ltd                                   | CUSIP: 000000000<br>LEI: 353800ZSQZKFE140A689 | Long             | EC               | CORP              | JP        |       785 | NS      | $25390.43     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Kirin Holdings Co Ltd                                  | Kirin Holdings Co Ltd                                  | CUSIP: 000000000<br>LEI: 353800GBVL72LLMTYM96 | Long             | EC               | CORP              | JP        |     13500 | NS      | $188744.85    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi Corp                                        | Mitsubishi Corp                                        | CUSIP: 000000000<br>LEI: KVIPTY4PULAPGC1VVD26 | Long             | EC               | CORP              | JP        |     56700 | NS      | $1133646.72   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Kewpie Corp                                            | Kewpie Corp                                            | CUSIP: 000000000<br>LEI: 529900LQQ53U4P4VZN24 | Long             | EC               | CORP              | JP        |      1910 | NS      | $44574.82     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Nippon Sanso Holdings Corp                             | Nippon Sanso Holdings Corp                             | CUSIP: 000000000<br>LEI: 353800F1K6653B4VPY57 | Long             | EC               | CORP              | JP        |      3304 | NS      | $124959.34    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-28

**Name of Applicant:** Franklin Templeton ETF Trust

**Signature:** Vivek Pai

**Name of Signer:** Vivek Pai

**Title:** Chief Financial Officer, Chief  Accounting Officer and Treasurer