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Franklin Income Focus ETF Income Focus ETF Holdings

INCM was created on 2023-06-08 by Franklin. The fund's investment portfolio concentrates primarily on target outcome asset allocation. INCM actively manages a diversified portfolio of equities and debt securities. The fund seeks to maximize income over a full market cycle by utilizing income generation strategies and investing opportunistically across various assets classes, markets, and sectors.

Last Updated: 5 days, 13 hours ago

Last reported holdings - Franklin Income Focus ETF Income Focus ETF

Ticker Name Est. Value
INFXX
Franklin Instl U.S. Govt Mny Mkt Fund $68.9 million
PG
Procter & Gamble Co $25.5 million
VZ
Verizon Communications Inc $23.6 million
T 4 11.15.35
United States Treasury Notes 4% $22.0 million
XOM
Exxon Mobil Corp $21.1 million
CVX
Chevron Corp $19.0 million
PEP
PepsiCo Inc $18.7 million
DUK
Duke Energy Corp $17.3 million
T 4.75 05.15.55
United States Treasury Bonds 4.75% $16.6 million
DTE
DTE Energy Co $16.4 million
UBS 8 04.12.27 0001
Ubs Ag London Brh Pfd 835.6% $15.4 million
ALB 7.25 03.01.27
Albemarle Corp PRF PERPETUAL USD 1000 - Ser A 1/20th Pref St $14.9 million
T 3.5 02.28.31
United States Treasury Notes 3.5% $14.7 million
SHEL
Shell PLC ADR (Representing - Ordinary Shares) $14.6 million
None
Abbv 8.5% Eln 12/11/2026 $12.5 million
C 8 10.28.26 0004
CITIGROUP GLOBAL MARKETS 8 10/28/2026 $12.4 million
RHHBY
Roche Holding AG ADR $12.4 million
APD
Air Products and Chemicals Inc $11.9 million
KO
Coca-Cola Co $11.8 million
LYB
LyondellBasell Industries NV Class A $11.7 million
MS 0 03.30.27 DMhO
Morgan Stanley Fin Ii Pfd $11.6 million
SO
Southern Co $11.6 million
C 0 10.28.26 MTN7
Citigroup Global Markets Funding Luxembourg S.C.A. 0% $11.5 million
UBS 7.5 12.04.26 0000
Ubs Ag London Brh Pfd 864% $11.2 million
WFC 8 03.08.27
Wells Fargo Bank, National Association $10.7 million
JPM 0 01.07.27 000J
JPMorgan Chase Bank, National Association 1012.29% $10.5 million
CYH 9.75 01.15.34 144A
CHS/Community Health Systems Inc 9.75% $10.4 million
T 4.25 05.15.35
United States Treasury Notes 4.25% $10.0 million
NSRGY
Nestle SA ADR $9.8 million
SIE.DE
Siemens AG $9.6 million
F 6.1 08.19.32
Ford Motor Company 6.1% $9.4 million
LMT
Lockheed Martin Corp $9.3 million
None
Bnp Paribas Issuance B.V. 7.50% Eln 10/14/2026 $9.1 million
MDT
Medtronic PLC $8.8 million
TFC
Truist Financial Corp $8.8 million
BAC
Bank of America Corp $8.8 million
PM
Philip Morris International Inc $8.6 million
CYH 10.875 01.15.32 144A
CHS/Community Health Systems Inc 10.875% $8.6 million
CYH 6.125 04.01.30 144A
CHS/Community Health Systems Inc 6.125% $8.3 million
ORCL 6.5 01.15.29 D
Oracle Corp FR PRF PERPETUAL USD - DpSh 1/2000 Prf Sr D $8.0 million
None
Crm 10 Eln Bnp 03/29/27 $7.9 million
BA 6 10.15.27
Boeing Co 6% PRF CONVERT 15/10/2027 USD 50 - Dep Rep 1/20th Sr A $7.8 million
D
Dominion Energy Inc $7.7 million
G2 MB0997
Government National Mortgage Association 5.5% $7.6 million
FR RQ0103
Federal Home Loan Mortgage Corp. 5.5% $7.5 million
WFC 7.5 01.11.27
Wells Fargo Bank, National Association $7.4 million
PFE
Pfizer Inc $7.4 million
GS V5.387 02.02.41
Goldman Sachs Group, Inc. 5.387% $7.3 million
LOW
Lowe's Companies Inc $7.3 million
MDLZ
Mondelez International Inc Class A $7.3 million
C 8.5 08.21.26 0000
CITIGROUP GLOBAL MARKETS 8.5 8/21/2026 $7.2 million
T 5 05.15.45
United States Treasury Bonds 5% $7.1 million
T 4.25 01.31.30
United States Treasury Notes 4.25% $7.1 million
NEE 7.299 06.01.27
NextEra Energy Inc 7.299% CORP UNIT 01/06/2027 $6.9 million
USB
U.S. Bancorp $6.8 million
IBM
International Business Machines Corp $6.8 million
NEE 7.234 11.01.27
NextEra Energy Inc Unit (Corporate Units 01/11/2029) $6.7 million
BWY 7.875 04.15.30 144A
Mauser Packaging Solutions Holding Co. 7.875% $6.5 million
MS
Morgan Stanley $6.5 million
ARES 6.75 10.01.27 B
Ares Management Corp 6.75% PRF PERPETUAL USD 50 - Ser B $6.4 million
MIZUHO 8 09.23.25
Mizuho Markets Cayman LP $6.2 million
UBS 10 02.24.27
UBS AG, London Branch $6.2 million
UBS 9 11.25.25
Ubs Ag London $6.2 million
BACR 8 03.15.27
Barclays Bk Pfd 1561.92% $6.1 million
None
Adi 10 Eln Rbc 11/16/26 $6.0 million
None
Venture Global Calcasieu Pass H 04/01/33 Term Loan $6.0 million
T 3.375 11.30.27
United States Treasury Notes 3.375% $6.0 million
TIBX 9 09.30.29 144A
Cloud Software Group Inc. 9% $5.9 million
T 3.75 11.30.32
United States Treasury Notes 3.75% $5.9 million
THC 4.25 06.01.29
Tenet Healthcare Corporation 4.25% $5.8 million
SO 7.125 12.15.28 A
Southern Co Unit (2025 Series A Corporate Units 15/12/2028) $5.8 million
WIT 4.625 11.15.55
United States Treasury Bonds 4.625% $5.8 million
BACR 10 02.12.27
Barclays Bk Pfd 627.9% $5.8 million
T 4.625 11.15.55
United States Treasury Bonds 4.625% $5.7 million
JPM 0 04.01.27 E12I
JPMORGAN CHASE LONDON 0 4/1/2027 $5.7 million
UBS 8 12.23.25
Ubs Ag London $5.7 million
CZR 4.625 10.15.29 144A
Caesars Entertainment Inc. 4.625% $5.6 million
COP
ConocoPhillips $5.5 million
VENLNG 9.875 02.01.32 144A
Venture Global LNG Inc. 9.875% $5.4 million
C 9.5 08.28.25 0001
Citigroup Global Mkts Hldgs In Pfd 801.61% $5.2 million
MS 0 01.08.27 EMTJ
Morgan Stanley Fin Ii Pfd $5.2 million
WFC 9 02.26.27
Wells Fargo Bank, National Association 1780.34% $5.1 million
VENLNG 8.125 06.01.28 144A
Venture Global LNG Inc. 8.125% $5.1 million
TD 9 01.27.27
Toronto Dominion Bk Pfd 821.97% $5.1 million
UBS 8 03.03.27
Ubs Ag London Brh Pfd 419.44% $5.1 million
WFC V6.125 PERP GG
Wells Fargo & Co. 6.125% $5.0 million
TROX 9.125 09.30.30 144A
Tronox Incorporated 9.125% $5.0 million
ARGID 9.5 12.01.30 144A
Ardagh Group S A 9.5% $5.0 million
BNP 0 07.01.26 000d
BNP PARIBAS 0 7/1/2026 $5.0 million
G2 MB0623
Government National Mortgage Association 5.5% $5.0 million
JBLU 9.875 09.20.31 144A
JetBlue Airways Corp. / JetBlue Loyalty LP 9.875% $4.9 million
FN MA5910
Federal National Mortgage Association 5.5% $4.9 million
MIZUHO 9 02.25.26
Mizuho Markets Cayman LP 425.7% $4.8 million
MIZUHO 7.5 07.27.26
MIZUHO MARKETS CAYMAN 7.5 7/27/2026 $4.7 million
BAC 0 03.03.27 DM8F
Merrill Lynch B V Pfd 763.92% $4.7 million
CSCO
Cisco Systems Inc $4.6 million
TD 7.5 08.19.26 MTN
TORONTO-DOMINION BANK 7.5 8/19/2026 $4.6 million
WFC 8 11.04.25
Wells Fargo Bk Natl Assn 935.19999% $4.6 million
BNP 10 08.28.26
BNP PARIBAS ISSUANCE BV 10 8/28/2026 $4.6 million
FR RQ0056
Federal Home Loan Mortgage Corp. 5.5% $4.5 million
XEL
Xcel Energy Inc $4.5 million
MIZUHO 10 07.27.26
MIZUHO MARKETS CAYMAN 10 7/27/2026 $4.5 million
BACR 10 07.29.26
Barclays Bk Pfd 208.8% $4.5 million
CZR 6 10.15.32 144A
Caesars Entertainment Inc. 6% $4.5 million
None
Hologi 01/14/33 Term Loan $4.5 million
TXN
Texas Instruments Inc $4.4 million
WFC 9.5 10.22.26
WELLS FARGO BANK NA 9.5 10/22/2026 $4.4 million
KKR 6.25 03.01.28 D
KKR & Co Inc 6.25% PRF CONVERT 01/03/2028 USD 50 - Ser D $4.4 million
MIZUHO 10 06.15.26
Mizuho Markets Cayman LP $4.3 million
MIZUHO 7.25 01.07.27
Mizuho Markets Cayman LP $4.3 million
CRM 5.55 03.15.36
Salesforce Inc. 5.55% $4.3 million
FRTITA 6.75 01.15.30 144A
Fertitta Entertainment LLC / Fertitta Entertainment Finance Co Inc. 6.75% $4.2 million
None
Meta 10.0% Eln Issued By Mizuho Markets Cayman Lp $4.2 million
NACN 0 10.22.26
National Bank of Canada 0% $4.2 million
VEGLPL 6.5 06.15.34 144A
Venture Global Plaquemines Lng LLC 6.5% $4.2 million
G2 MB0686
Government National Mortgage Association 5.5% $4.2 million
C 9 07.29.26 0001
CITIGROUP GLOBAL MARKETS 9 7/29/2026 $4.2 million
ASUCOR 8 12.31.32 144A
Asurion LLC / Asurion Co-Issuer Inc. 8% $4.2 million
FITB
Fifth Third Bancorp $4.1 million
FR SD8474
Federal Home Loan Mortgage Corp. 5% $4.1 million
SRE
Sempra $4.1 million
TDG 6.375 05.31.33 144A
TransDigm, Inc. 6.375% $4.0 million
JPM 0 02.19.26 DMTK
JPMorgan Chase Bank, National Association 1872% $4.0 million
T 4.25 11.15.34
United States Treasury Notes 4.25% $4.0 million
SKX 10 07.15.33 144a
Beach Acquisition Bidco LLC 10% $4.0 million
T 4 02.15.34
United States Treasury Notes 4% $3.9 million
MS V5.25 04.21.34 MTN
Morgan Stanley 5.25% $3.9 million
RY 10 02.12.27
Royal Bank of Canada 1517.01% $3.9 million
WFC 10 05.13.26
Wells Fargo Bank, National Association 966.45% $3.9 million
MCD
McDonald's Corp $3.9 million
RY 8.5 08.20.26
ROYAL BANK OF CANADA 8.5 8/20/2026 $3.8 million
SEE 8.25 04.15.33 144A
Sword Purchaser LLC 8.25% $3.8 million
BACR 7 02.25.26
Barclays Bank plc $3.8 million
BACR 9 02.05.26
Barclays Bk Pfd 857.25% $3.8 million
JPM 0 10.20.26 E0UH
JP MORGAN STRUCTURED PRO 0 10/20/2026 $3.8 million
TGT
Target Corp $3.8 million
WYNFIN 6.25 03.15.33 144A
Wynn Resorts Finance Llc / Wynn Resorts Capital Corp 6.25% $3.8 million
UNP
Union Pacific Corp $3.8 million
BACR 10 09.08.26
BARCLAYS BANK PLC 10 9/8/2026 $3.7 million
VENLNG 8.375 06.01.31 144A
Venture Global LNG Inc. 8.375% $3.6 million
THC 6.125 06.15.30
Tenet Healthcare Corporation 6.125% $3.5 million
SO V6 04.01.58
Southern Co. 6% $3.5 million
G2 MB0872
Government National Mortgage Association 5.5% $3.5 million
G2 MB0814
Government National Mortgage Association 5.5% $3.5 million
NRG 6 01.15.36 144A
NRG Energy, Inc. 6% $3.5 million
MS 0 04.08.27 E119
Morgan Stanley Fin Ii Pfd $3.5 million
BAC 10 07.01.26
MERRILL LYNCH BV 10 7/1/2026 $3.4 million
None
Can 8% Eln 03/15/2027 $3.4 million
MIZUHO 10 04.15.26
Mizuho Markets Cayman LP 533.4% $3.4 million
ORCL 6.25 11.09.32
Oracle Corp. 6.25% $3.3 million
BNP 9 02.04.26
BNP PARIBAS ISSUANCE BV 9 2/4/2026 $3.3 million
VICI 5.125 05.15.32
VICI Properties LP 5.125% $3.3 million
FN MA5945
Federal National Mortgage Association 5.5% $3.3 million
BAC 0 09.03.26 U0OU
Merrill Lynch B V $3.3 million
TD 10 11.25.26
Toronto Dominion Bank New York Branch 1765.23% $3.2 million
F 7.35 03.06.30
Ford Motor Credit Company LLC 7.35% $3.2 million
JPM 0 01.11.27 EMTQ
JPMorgan Chase Bank, National Association 383% $3.2 million
PPC 6.25 07.01.33
Pilgrims Pride Corporation 6.25% $3.2 million
BA 5.15 05.01.30
Boeing Co. 5.15% $3.1 million
UBS 8 01.28.26 0001
Ubs Ag London 369.52% $3.1 million
VEGLPL 6.125 12.15.30 144A
Venture Global Plaquemines Lng LLC 6.125% $3.1 million
WFRD 6.75 10.15.33 144A
Weatherford International Ltd Bermuda 6.75% $3.1 million
HRI 7 06.15.30 144A
Herc Holdings Inc 7% $3.1 million
TDG 6.75 01.31.34 144a
TransDigm, Inc. 6.75% $3.1 million
TD 9 01.12.26
Toronto Dominion Bank Pfd 887.4% $3.0 million
VST 6.875 04.15.32 144A
Vistra Operations Co LLC 6.875% $3.0 million
HCA 5.625 09.01.28
HCA Inc. 5.625% $3.0 million
BAC 12 03.09.26
Merrill Lynch B.V. 1432.8% $3.0 million
G2 MB0813
Government National Mortgage Association 5% $3.0 million
CLF 7 03.15.32 144A
Cleveland-Cliffs Inc 7% $2.9 million
NEWARC 9.75 03.01.33 144A
Arc Falcon I Inc. / Arclin Escrow Issuer Inc. / Arclin USA LLC / New Arclin $2.9 million
WFC 10 02.25.26 0000
Wells Fargo Bk Natl Assn Pfd 717.4% $2.9 million
MCFE 7.375 02.15.30 144A
McAfee Corp 7.375% $2.9 million
TIBX 6.5 03.31.29 144A
Tibco Software Inc 6.5% $2.9 million
NOVHOL 6.75 04.15.32 144A
Clydesdale Acquisition Holdings Inc. 6.75% $2.9 million
CHTR 7.375 03.01.31 144A
CCO Holdings, LLC/ CCO Holdings Capital Corp. 7.375% $2.9 million
JPM 0 11.25.25 E0TS
JPMorgan Chase Bank, National Association 535.5% $2.8 million
BWY 9.25 04.15.30 144A
Mauser Packaging Solutions Holding Co. 9.25% $2.8 million
C V6.875 PERP GG
Citigroup Inc. 6.875% $2.8 million
GM 5.6 10.15.32
General Motors Company 5.6% $2.8 million
COF V7.624 10.30.31 .
Capital One Financial Corp. 7.624% $2.8 million
RY 8.5 08.27.25
Royal Bank of Canada 493.765% $2.7 million
CHTR 6.375 09.01.29 144A
CCO Holdings, LLC/ CCO Holdings Capital Corp. 6.375% $2.7 million
CLMT 9.75 02.15.31 144A
Calumet Specialty Products Partners LP / Calumet Finance Corp 9.75% $2.7 million
RY 8.5 11.26.25 0000
Royal Bk Cda Pfd 987.445% $2.6 million
JBSSBZ 5.75 04.01.33
Jbs Usa Lux SA/Jbs Usa Food Company/Jbs Usa Finance Inc 5.75% $2.6 million
G2 MA9905
Government National Mortgage Association 5% $2.6 million
CE 6.379 07.15.32
Celanese US Holdings Llc 7.379% $2.6 million
C 10 02.24.27 0006
Citigroup Global Mkts Hldgs In Pfd 1540% $2.6 million
USB V5.836 06.12.34
U.S. Bancorp. 5.836% $2.6 million
JBS 5.75 04.01.33
JBS NV / JBS USA Food Co Holdings Inc. / JBS USA Foods Group Holdings Inc. $2.6 million
UVN 9.375 08.01.32 144A
Univision Communications Inc. 9.375% $2.6 million
ET 5.75 02.15.33
Energy Transfer LP 5.75% $2.6 million
CVS V7 03.10.55
CVS Health Corp 7% $2.6 million
None
Tgt 11.0% Eln Issued By Bnp Paribas Issuance B.V. $2.6 million
THC 6.75 05.15.31
Tenet Healthcare Corporation 6.75% $2.6 million
CVS V6.75 12.10.54
CVS Health Corp 6.75% $2.6 million
T 4.625 04.30.29
United States Treasury Notes 4.625% $2.6 million
THC 6 11.15.33 144A
Tenet Healthcare Corporation 6% $2.5 million
HILCRP 7.25 02.15.35 144A
Hilcorp Energy I L.P/Hilcorp Finance Co 7.25% $2.5 million
TDG 6 01.15.33 144A
TransDigm, Inc. 6% $2.5 million
OGN 5.125 04.30.31 144A
Organon & Co 5.125% $2.5 million
DELL
Dell Technologies Inc Ordinary Shares - Class C $2.5 million
TFC V4.916 07.28.33 MTN
Truist Financial Corp. 4.916% $2.5 million
CCL 5.75 08.01.32 144A
Carnival Corporation 5.75% $2.5 million
G2 MB0557
Government National Mortgage Association 6% $2.5 million
UAL 4.625 04.15.29 144A
United Air Lines, Inc. 4.625% $2.5 million
DVA 4.625 06.01.30 144A
Davita Inc 4.625% $2.4 million
FR RQ0050
Federal Home Loan Mortgage Corp. 6% $2.4 million
TROX 4.625 03.15.29 144A
Tronox Incorporated 4.625% $2.4 million
THC 6.125 10.01.28
Tenet Healthcare Corporation 6.125% $2.4 million
BAC 0 09.25.26 GMTK
Merrill Lynch B V Pfd $2.3 million
None
Amzn Td Bnk Eln 10/13/26 $2.3 million
C 12 06.09.26 0006
CITIGROUP GLOBAL MARKETS 12 6/9/2026 $2.3 million
VEGLPL 7.75 05.01.35 144A
Venture Global Plaquemines Lng LLC 7.75% $2.3 million
None
Ppl Corporation $2.2 million
DEXAXL 6.625 10.15.29 144A
Dexko Global Inc 6.625% $2.2 million
MSFT
Microsoft Corp $2.2 million
AMZN
Amazon.com Inc $2.2 million
JPM 0 01.22.26 DMU2
Jpmorgan Chase Bk Na Pfd 1726% $2.2 million
OXY 6.625 09.01.30
Occidental Petroleum Corp. 6.625% $2.1 million
GM 6.4 01.09.33
General Motors Financial Company Inc 6.4% $2.1 million
FN MA5793
Federal National Mortgage Association 6% $2.1 million
BACR 10 03.25.26
Barclays Bk Pfd $2.1 million
NWL 8.5 06.01.28 144A
Newell Brands Inc. 8.5% $2.1 million
JPM V6.5 PERP OO
JPMorgan Chase & Co. 6.5% $2.1 million
RY 10 05.13.26 0000
Royal Bank of Canada 1397.4% $2.1 million
RRD 9.5 08.01.29 144A
R.R. Donnelley & Sons Co. 9.5% $2.0 million
BHCCN 10 04.15.32 144A
1261229 Bc Ltd. 10% $2.0 million
G2 MB0873
Government National Mortgage Association 6% $2.0 million
VST V8 PERP 144A
Vistra Corp 8% $2.0 million
AHTLN 5.55 05.30.33 144A
Ashtead Capital Inc. 5.55% $2.0 million
NRG 6 02.01.33 144A
NRG Energy, Inc. 6% $2.0 million
CCL 6.125 02.15.33 144A
Carnival Corporation 6.125% $2.0 million
BAC 7 03.09.26 0000
Merrill Lynch B.V. $2.0 million
OPALBD 6.5 03.31.32 144A
Opal Bidco SAS 6.5% $2.0 million
BSPEED 10.5 04.03.31 144A
Connect Holding II LLC 10.5% $2.0 million
OGN 4.125 04.30.28 144a
Organon & Co 4.125% $2.0 million
ASUCOR 8.375 02.01.34 144A
Asurion LLC / Asurion Co-Issuer Inc. 8.375% $1.9 million
CRWV 9 02.01.31 144A
CoreWeave Inc. 9% $1.9 million
CYH 6.875 04.15.29 144A
CHS/Community Health Systems Inc 6.875% $1.9 million
WFC 9 08.10.26
Wells Fargo Bank, National Association 864.68% $1.9 million
T 4.5 11.15.54
United States Treasury Bonds 4.5% $1.9 million
DAL 4.75 10.20.28 144A
Skymiles IP Ltd. & Delta Air Lines Inc. 4.75% $1.7 million
CNC 2.5 03.01.31
Centene Corp. 2.5% $1.7 million
C 8.5 12.08.25
Citigroup Global Mkts Hldgs In Pfd 1225.3175% $1.7 million
FR SD8494
Federal Home Loan Mortgage Corp. 5.5% $1.7 million
FN MA5531
Federal National Mortgage Association 5.5% $1.7 million
FR SD8475
Federal Home Loan Mortgage Corp. 5.5% $1.6 million
BACR V7.437 11.02.33
Barclays PLC 7.437% $1.6 million
BA 6.528 05.01.34
Boeing Co. 6.528% $1.6 million
RY 8 09.17.25 0000
Royal Bk Cda Pfd 401.6% $1.6 million
VST 7.75 10.15.31 144A
Vistra Operations Co LLC 7.75% $1.6 million
RIVHOL 10 01.15.31 144A
Rivian Holdings Llc / Rivian Llc / Rivian Automotive Llc 10% $1.6 million
C V6.174 05.25.34
Citigroup Inc. 6.174% $1.6 million
G2 MB0366
Government National Mortgage Association 5.5% $1.6 million
CLMT 9.75 07.15.28 144A
Calumet Specialty Products Partners LP / Calumet Finance Corp 9.75% $1.6 million
GMABDC 6.25 12.15.32 144A
Genmab AS And Genmab Finance LLC 6.25% $1.6 million
CNC 4.625 12.15.29
Centene Corp. 4.625% $1.5 million
F 3.25 02.12.32
Ford Motor Company 3.25% $1.5 million
WMB 3.5 11.15.30
Williams Companies Inc. (The) 3.5% $1.5 million
NRG 6.25 11.01.34 144A
NRG Energy, Inc. 6.25% $1.5 million
MRP 6.375 08.01.30 144A
Millrose Properties Inc. 6.375% $1.5 million
UBS 8 07.13.26
UBS AG, London Branch $1.5 million
BAC V5.425 08.15.35 MTN
Bank of America Corp. 5.425% $1.5 million
None
Hologi 01/14/33 Term Loan $1.5 million
BAC V4.571 04.27.33
Bank of America Corp. 4.571% $1.5 million
RY 10 12.24.25
Royal Bk Cda Pfd 791.5% $1.5 million
VST 4.375 05.01.29 144A
Vistra Operations Co LLC 4.375% $1.5 million
BNP 0 12.10.25 000D
BNP PARIBAS 0 12/10/2025 $1.4 million
BAC 7.5 10.06.25 0000
Merrill Lynch B.V. $1.4 million
JPM 0 09.02.25 MTNH
JPMorgan Chase Bank, National Association 331.5% $1.4 million
CHTR 5 02.01.28 144A
CCO Holdings, LLC/ CCO Holdings Capital Corp. 5% $1.3 million
WFC 10 11.26.25 0000
Wells Fargo Bk Natl Assn Pfd 431.4% $1.3 million
FN FS7252
Federal National Mortgage Association 5% $1.3 million
AMT 5.55 07.15.33
American Tower Corporation 5.55% $1.3 million
JPM 0 11.03.25 DMUA
JPMorgan Chase Bank, National Association 939.25% $1.3 million
FRTITA 4.625 01.15.29 144A
Fertitta Entertainment LLC / Fertitta Entertainment Finance Co Inc. 4.625% $1.3 million
MORTON 6.625 05.01.29 144A
SCIH Salt Holdings Inc. 6.625% $1.2 million
CHTR 5.375 06.01.29 144A
CCO Holdings, LLC/ CCO Holdings Capital Corp. 5.375% $1.2 million
MS V6.342 10.18.33
Morgan Stanley 6.342% $1.2 million
G2 MB0424
Government National Mortgage Association 5.5% $1.2 million
NRG 3.625 02.15.31 144A
NRG Energy, Inc. 3.625% $1.2 million
AVGO 3.469 04.15.34
Broadcom Inc 3.469% $1.2 million
BAC 6 02.13.26
Merrill Lynch B.V. $1.2 million
MORTON 4.875 05.01.28 144A
SCIH Salt Holdings Inc. 4.875% $1.1 million
CHTR 4.75 03.01.30 144A
CCO Holdings, LLC/ CCO Holdings Capital Corp. 4.75% $1.1 million
WFC V5.389 04.24.34
Wells Fargo & Co. 5.389% $1.1 million
MEDIND 3.875 04.01.29 144A
Medline Borrower LP 3.875% $1.1 million
RRX 6.3 02.15.30 *
Regal Rexnord Corporation 6.3% $1.0 million
FR SD8506
Federal Home Loan Mortgage Corp. 5.5% $1.0 million
SO V6.375 03.15.55 2025
Southern Co. 6.375% $1.0 million
COF V5.817 02.01.34
Capital One Financial Corp. 5.817% $1.0 million
BACR V7.625 PERP
Barclays PLC 7.625% $1.0 million
C V6.02 01.24.36
Citigroup Inc. 6.02% $1.0 million
DVA 6.75 07.15.33 144A
Davita Inc 6.75% $1.0 million
QUIKHO 6.375 03.01.32 144A
Quikrete Holdings Inc 6.375% $1.0 million
GS V6.85 PERP
Goldman Sachs Group, Inc. 6.85% $1.0 million
CVS 5.25 02.21.33
CVS Health Corp 5.25% $1.0 million
LOW 5 04.15.33
Lowes Companies, Inc. 5% $1.0 million
AAL 5.75 04.20.29 144A
AAdvantage Loyalty IP Ltd/ American Airlines Inc 5.75% $993627
PCG 5.25 07.01.30
PG&E Corporation 5.25% $991899
JPM V5.04 01.23.28
JPMorgan Chase & Co. 5.04% $985002
NFLX 5.875 11.15.28
Netflix, Inc. 5.875% $982798
WYNMAC 5.5 01.15.26 144A
Wynn Macau Ltd. 5.5% $980000
CLF 6.75 04.15.30 144A
Cleveland-Cliffs Inc 6.75% $979269
BATSLN 7.75 10.19.32
B.A.T. Capital Corporation 7.75% $977676
ORCL 5.7 02.04.36
Oracle Corp. 5.7% $967239
FMGAU 4.375 04.01.31 144A
FMG Resources (August 2006) Pty Ltd. 4.375% $950942
TMUS 5.05 07.15.33
T-Mobile USA, Inc. 5.05% $908372
GS V6.561 10.24.34
Goldman Sachs Group, Inc. 6.561% $899655
FR SD8323
Federal Home Loan Mortgage Corp. 5% $878214
GM 5.8 01.07.29
General Motors Financial Company Inc 5.8% $875595
VST 6.95 10.15.33 144A
Vistra Operations Co LLC 6.95% $869254
FN MA5009
Federal Home Loan Mortgage Corp. 5% $865520
NRG 7 03.15.33 144A
NRG Energy, Inc. 7% $812938
AA 4.125 03.31.29 144A
Alcoa Nederland Holding B.V. 4.125% $802561
CARR 2.722 02.15.30
Carrier Global Corporation 2.722% $796330
KMI 5.4 02.01.34
Kinder Morgan, Inc. 5.4% $794646
FMGAU 6.125 04.15.32 144A
FMG Resources (August 2006) Pty Ltd. 6.125% $790116
FCX 5.4 11.14.34
Freeport-McMoRan Inc. 5.4% $785031
CHCOCH 3.7 11.15.29
Cheniere Corpus Christi Holdings, LLC 3.7% $779074
WYNNLV 5.25 05.15.27 144A
Wynn Las Vegas, LLC/Wynn Las Vegas Capital Corp. 5.25% $774087
COF V4.927 05.10.28
Capital One Financial Corp. 4.927% $768184
WFRD 8.625 04.30.30 144A
Weatherford International Ltd Bermuda 8.625% $767439
QNTELE 6.25 08.15.33 144A
Qnity Electronics Inc. 6.25% $762019
HPQ 5.5 01.15.33
HP Inc 5.5% $761903
QNTELE 5.75 08.15.32 144A
Qnity Electronics Inc. 5.75% $755978
WYNFIN 7.125 02.15.31 144A
Wynn Resorts Finance Llc / Wynn Resorts Capital Corp 7.125% $735461
AER 4.95 09.10.34
AerCap Ireland Capital Designated Activity Co. / AerCap Global Aviation Tru $732673
HPE 5 10.15.34
Hewlett Packard Enterprise Co. 5% $729918
POST 6.25 02.15.32 144A
Post Holdings Inc. 6.25% $711511
BLCOCN 8.375 10.01.28 144A
Bausch Plus Lomb Corp. 8.375% $696938
BBDBCN 7.25 07.01.31 144A
Bombardier Inc. 7.25% $632437
AMPBEV 4 09.01.29 144A
Ardagh Metal Packaging Finance PLC / Ardagh Metal Packaging Finance USA LLC $625379
TEVA 6.75 03.01.28
Teva Pharmaceutical Finance Netherlands III B.V. 6.75% $615719
CHTR 5.125 05.01.27 144A
CCO Holdings, LLC/ CCO Holdings Capital Corp. 5.125% $615488
RCL 6.25 03.15.32 144A
Royal Caribbean Group 6.25% $613951
TDG 6.75 08.15.28 144A
TransDigm, Inc. 6.75% $609186
KEY 4.9 08.08.32 BKNT
KeyBank National Association 4.9% $602926
COF 3.75 07.28.26
Capital One Financial Corp. 3.75% $599112
ORCL 2.875 03.25.31
Oracle Corp. 2.875% $579742
FMEGR 2.375 02.16.31 144A
Fresenius Medical Care US Finance III Inc 2.375% $573225
PANW
Palo Alto Networks Inc $560571
BATSLN 6.421 08.02.33
B.A.T. Capital Corporation 6.421% $544148
BRO 2.375 03.15.31
Brown & Brown Inc 2.375% $544060
AHTLN 4.25 11.01.29 144A
Ashtead Capital Inc. 4.25% $539055
C V6.27 11.17.33
Citigroup Inc. 6.27% $536353
MTNA 6.8 11.29.32
ArcelorMittal S.A. 6.8% $535329
VST 3.7 01.30.27 144A
Vistra Operations Co LLC 3.7% $531881
RRX 6.4 04.15.33
Regal Rexnord Corporation 6.4% $529983
ENDP 8.5 04.15.31 144A
Endo Finance Holdings Inc. 8.5% $527405
GMABDC 7.25 12.15.33 144A
Genmab AS And Genmab Finance LLC 7.25% $527403
KMI 5.2 06.01.33
Kinder Morgan, Inc. 5.2% $524636
SCHW V6.196 11.17.29
The Charles Schwab Corporation 6.196% $522213
EXPE 3.8 02.15.28
Expedia Group Inc 3.8% $518888
MCAIRH 6.4 03.26.29 144A
Macquarie Airfinance Holdings Ltd 6.4% $518594
SNPS
Synopsys Inc $517270
SCHW V5.853 05.19.34
The Charles Schwab Corporation 5.853% $516522
UNH 5.35 02.15.33
UnitedHealth Group Inc. 5.35% $516079
RCOLIN 12.25 09.01.29 144A
Rain Carbon Inc 12.25% $515840
PM 5.375 02.15.33
Philip Morris International Inc. 5.375% $514846
PNC V5.068 01.24.34
PNC Financial Services Group Inc. 5.068% $512950
AER 5.75 06.06.28
AerCap Ireland Capital Designated Activity Co. / AerCap Global Aviation Tru $512838
DVA 6.875 09.01.32 144A
Davita Inc 6.875% $512245
NXPI 5.55 12.01.28
NXP BV/NXP Funding LLC 5.55% $512197
EMECLI 6.625 12.15.30 144A
EMRLD Borrower LP / Emerald Co-Issuer Inc. 6.625% $510768
PRU 5.791 02.15.33
Five Corners Funding Trust III 5.791% $508937
NEE 5.25 03.15.34
NextEra Energy Capital Holdings Inc 5.25% $508203
ABBV 4.55 03.15.35
AbbVie Inc. 4.55% $508149
DOC 5.25 12.15.32
Healthpeak Properties Inc 5.25% $505561
SO 5.7 10.15.32
Southern Co. 5.7% $503794
GEHC 5.905 11.22.32
GE Healthcare Technologies Inc. 5.905% $502911
URI 6 12.15.29 144A
United Rentals (North America), Inc. 6% $494139
MEDIND 6.25 04.01.29 144A
Medline Borrower LLP / Medline Co-Issuer Inc. 6.25% $459724
MTDR 6.5 04.15.32 144A
Matador Resources Company 6.5% $459284
None
Cash $431213
FR SD8342
Federal Home Loan Mortgage Corp. 5.5% $412216
FI 5.6 03.02.33
Fiserv Inc. 5.6% $411670
FR SD8372
Federal Home Loan Mortgage Corp. 5.5% $409888
FISV 5.6 03.02.33
Fiserv Inc. 5.6% $405805
G2 MB0485
Government National Mortgage Association 5.5% $339012
DELL 5.75 02.01.33
Dell International LLC / EMC Corp. 5.75% $313304
AEP 5.625 03.01.33
American Electric Power Co, Inc. 5.625% $311561
CLMT 9.25 07.15.29 144A
Calumet Specialty Products Partners LP / Calumet Finance Corp 9.25% $304500
CCI 5.1 05.01.33
Crown Castle Inc. 5.1% $298165
NCLH 6.75 02.01.32 144A
NCL Corporation Ltd. 6.75% $297277
D 3.375 04.01.30 C
Dominion Energy Inc 3.375% $286914
None
Mph Acquisition Hldg 12/31/30 T 12/31/30 Term Loan $163918
None
Euro $63063
JPM
JPMorgan Chase & Co $38662
HD
The Home Depot Inc $35065
ABT
Abbott Laboratories $21995
UPS
United Parcel Service Inc Class B $11123

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