NPORT-EX 2 FT33FT022822.htm
First Trust Energy Infrastructure Fund (FIF)
Portfolio of Investments
February 28, 2022 (Unaudited)
Shares   Description   Value
COMMON STOCKS (a) – 83.0%
    Construction & Engineering – 2.6%    
63,750  
Quanta Services, Inc.

  $6,944,925
    Electric Utilities – 22.3%    
127,200  
Alliant Energy Corp.

  7,428,480
90,000  
American Electric Power Co., Inc.

  8,158,500
26,999  
Constellation Energy Corp.

  1,241,414
3,100  
Duke Energy Corp.

  311,271
4,400  
Emera, Inc. (CAD)

  205,854
537,820  
Enel S.p.A., ADR

  3,909,952
8,400  
Eversource Energy

  687,120
81,000  
Exelon Corp.

  3,447,360
16,600  
Fortis, Inc. (CAD)

  760,653
33,944  
Iberdrola S.A., ADR

  1,535,898
57,800  
IDACORP, Inc.

  6,008,310
109,763  
NextEra Energy, Inc.

  8,591,150
5,300  
Orsted A/S, ADR

  229,808
177,900  
PPL Corp.

  4,655,643
143,700  
Southern (The) Co.

  9,307,449
46,800  
Xcel Energy, Inc.

  3,151,044
        59,629,906
    Gas Utilities – 11.2%    
306,800  
AltaGas Ltd. (CAD)

  6,758,072
62,100  
Atmos Energy Corp.

  6,819,201
40,200  
National Fuel Gas Co.

  2,502,048
82,700  
New Jersey Resources Corp.

  3,607,374
58,400  
ONE Gas, Inc.

  4,852,456
23,000  
Southwest Gas Holdings, Inc.

  1,631,620
102,444  
UGI Corp.

  3,937,947
        30,108,718
    Independent Power & Renewable Electricity Producers – 0.9%    
26,000  
AES (The) Corp.

  551,980
33,100  
Clearway Energy, Inc., Class A

  1,012,529
16,300  
EDP Renovaveis S.A. (EUR) (b)

  396,207
11,000  
Northland Power, Inc. (CAD)

  349,743
        2,310,459
    Multi-Utilities – 19.5%    
120,700  
Atco Ltd., Class I (CAD)

  3,964,293
25,000  
Black Hills Corp.

  1,749,750
14,800  
Canadian Utilities Ltd., Class A (CAD)

  412,181
290,839  
CenterPoint Energy, Inc.

  7,954,447
50,100  
CMS Energy Corp.

  3,206,901
9,000  
Dominion Energy, Inc.

  715,770
53,500  
DTE Energy Co.

  6,505,065
175,200  
Public Service Enterprise Group, Inc.

  11,358,216
93,000  
Sempra Energy

  13,412,460
32,900  
WEC Energy Group, Inc.

  2,989,952
        52,269,035
    Oil, Gas & Consumable Fuels – 26.2%    
86,278  
Cheniere Energy, Inc.

  11,466,346
88,400  
DT Midstream, Inc.

  4,694,040
149,800  
Enbridge, Inc.

  6,468,364
275,700  
Keyera Corp. (CAD)

  6,458,014

First Trust Energy Infrastructure Fund (FIF)
Portfolio of Investments (Continued)
February 28, 2022 (Unaudited)
Shares   Description   Value
COMMON STOCKS (a) (Continued)
    Oil, Gas & Consumable Fuels (Continued)    
317,675  
Kinder Morgan, Inc. (c)

  $5,527,545
106,053  
ONEOK, Inc. (c)

  6,925,261
322,055  
TC Energy Corp.

  17,297,574
361,270  
Williams (The) Cos., Inc. (c)

  11,300,526
        70,137,670
    Semiconductors & Semiconductor Equipment – 0.2%    
3,500  
Enphase Energy, Inc. (d)

  583,450
    Water Utilities – 0.1%    
2,400  
American Water Works Co., Inc.

  362,616
   
Total Common Stocks

  222,346,779
    (Cost $195,542,371)    
Units   Description   Value
MASTER LIMITED PARTNERSHIPS (a) – 38.6%
    Chemicals – 1.2%    
123,800  
Westlake Chemical Partners, L.P.

  3,257,178
    Independent Power & Renewable Electricity Producers – 6.5%    
222,858  
NextEra Energy Partners, L.P. (e)

  17,385,153
    Oil, Gas & Consumable Fuels – 30.9%    
133,889  
Cheniere Energy Partners, L.P.

  7,228,667
1,154,980  
Energy Transfer, L.P.

  11,711,497
887,556  
Enterprise Products Partners, L.P.

  21,674,118
70,000  
Hess Midstream, L.P., Class A (e)

  2,237,200
260,676  
Holly Energy Partners, L.P.

  4,332,435
410,186  
Magellan Midstream Partners, L.P.

  19,902,225
121,200  
MPLX, L.P.

  3,972,936
892,798  
Plains GP Holdings, L.P., Class A (e)

  10,097,545
126,300  
Shell Midstream Partners, L.P.

  1,766,937
        82,923,560
   
Total Master Limited Partnerships

  103,565,891
    (Cost $82,527,609)    
   
Total Investments – 121.6%

  325,912,670
    (Cost $278,069,980)    
    
Number of Contracts   Description   Notional Amount   Exercise Price   Expiration Date   Value
CALL OPTIONS WRITTEN – (0.3)%
(3,176)  
Kinder Morgan, Inc.

  $(5,526,240)   $18.00   03/18/22   (53,992)
(1,060)  
ONEOK, Inc.

  (6,921,800)   62.50   03/18/22   (413,400)
(3,000)  
Williams (The) Cos., Inc.

  (9,384,000)   31.00   03/18/22   (240,000)
   
Total Call Options Written

  (707,392)
    (Premiums received $332,896)                
    
Outstanding Loans – (23.4)%

(62,800,000)
 
Net Other Assets and Liabilities – 2.1%

5,685,665
 
Net Assets – 100.0%

$268,090,943

First Trust Energy Infrastructure Fund (FIF)
Portfolio of Investments (Continued)
February 28, 2022 (Unaudited)

Interest Rate Swap Agreements:
Counterparty   Rate Receivable   Expiration Date   Notional
Amount
  Rate Payable   Unrealized
Appreciation
(Depreciation)/
Value
Bank of Nova Scotia (1)   0.241% (2)   09/03/24   $36,475,000   2.367% (3)   $(782,649)
N/A (4) (5)   0.080% (6)   10/21/22   2,290,965   0.052% (7)   786
N/A (4) (5)   0.080% (6)   10/21/25   303,796   0.060% (8)   93
            $39,069,761       $(781,770)
(1) Payment frequency is monthly
(2) 1 month LIBOR
(3) Fixed Rate
(4) Centrally cleared on the Chicago Mercantile Exchange
(5) No cash payments are made by either party prior to the expiration dates shown above
(6) Federal Funds Rate
(7) SOFR + 0.00183%
(8) SOFR + 0.01036%
    
(a) All of these securities are available to serve as collateral for the outstanding loans.
(b) This investment is fair valued by the Advisor’s Pricing Committee in accordance with procedures adopted by the Fund’s Board of Trustees and in accordance with provisions of the Investment Company Act of 1940, as amended. At February 28, 2022, securities noted as such are valued at $396,207 or 0.1% of net assets. Certain of these securities are fair valued using a factor provided by a third-party pricing service due to the change in value between the foreign markets’ close and the New York Stock Exchange close exceeding a certain threshold. On days when this threshold is not exceeded, these securities are typically valued at the last sale price on the exchange on which they are principally traded.
(c) All or a portion of this security’s position represents cover for outstanding options written.
(d) Non-income producing security.
(e) This security is taxed as a “C” corporation for federal income tax purposes.
    
ADR American Depositary Receipt
CAD Canadian Dollar
EUR Euro
LIBOR London Interbank Offered Rate
SOFR Secured Overnight Financing Rate


First Trust Energy Infrastructure Fund (FIF)
Portfolio of Investments (Continued)
February 28, 2022 (Unaudited)
Valuation Inputs
The Fund is subject to fair value accounting standards that define fair value, establish the framework for measuring fair value and provide a three-level hierarchy for fair valuation based upon the inputs to the valuation as of the measurement date. The three levels of the fair value hierarchy are as follows:
Level 1 – Level 1 inputs are quoted prices in active markets for identical investments.
Level 2 – Level 2 inputs are observable inputs, either directly or indirectly. (Quoted prices for similar investments, valuations based on interest rates and yield curves, or valuations derived from observable market data.)
Level 3 – Level 3 inputs are unobservable inputs that may reflect the reporting entity’s own assumptions about the assumptions that market participants would use in pricing the investment.
The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in those investments.
A summary of the inputs used to value the Fund’s investments as of February 28, 2022 is as follows:
ASSETS TABLE
  Total
Value at
2/28/2022
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks:        
Independent Power & Renewable Electricity Producers

$2,310,459 $1,914,252 $396,207 $
Other industry categories*

220,036,320 220,036,320
Master Limited Partnerships*

103,565,891 103,565,891
Total Investments

325,912,670 325,516,463 396,207
Interest Rate Swap Agreements

879 879
Total

$325,913,549 $325,516,463 $397,086 $
 
LIABILITIES TABLE
  Total
Value at
2/28/2022
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Call Options Written

$(707,392) $(707,392) $$
Interest Rate Swap Agreement

(782,649) (782,649)
Total

$(1,490,041) $(707,392) $(782,649) $
    
* See Portfolio of Investments for industry breakout.