|
Principal
Value
|
Description
|
Stated
Coupon
|
Stated
Maturity
|
Value
|
|
|
CONVERTIBLE CORPORATE BONDS AND NOTES — 91.9%
|
|||||
|
|
Aerospace & Defense — 1.9%
|
|
|||
|
$640,000
|
Axon Enterprise, Inc.
|
0.50%
|
12/15/27
|
$787,520
|
|
|
640,000
|
JPMorgan Chase Financial Co., LLC
|
0.50%
|
06/15/27
|
752,320
|
|
|
|
|
|
|
|
1,539,840
|
|
|
Automobile Components — 0.6%
|
|
|||
|
443,000
|
Patrick Industries, Inc.
|
1.75%
|
12/01/28
|
504,178
|
|
|
|
Automobiles — 2.4%
|
|
|||
|
885,000
|
Ford Motor Co.
|
(a)
|
03/15/26
|
866,725
|
|
|
1,165,000
|
Rivian Automotive, Inc. (b)
|
3.63%
|
10/15/30
|
1,075,411
|
|
|
|
|
|
|
|
1,942,136
|
|
|
Banks — 2.2%
|
|
|||
|
540,000
|
Morgan Stanley Finance LLC
|
1.00%
|
11/23/27
|
612,787
|
|
|
780,000
|
Morgan Stanley Finance LLC, Medium-Term Note
|
0.13%
|
02/07/28
|
1,169,087
|
|
|
|
|
|
|
|
1,781,874
|
|
|
Biotechnology — 9.2%
|
|
|||
|
250,000
|
Alnylam Pharmaceuticals, Inc.
|
1.00%
|
09/15/27
|
241,575
|
|
|
265,000
|
Ascendis Pharma A/S
|
2.25%
|
04/01/28
|
283,550
|
|
|
392,000
|
BioMarin Pharmaceutical, Inc.
|
1.25%
|
05/15/27
|
392,235
|
|
|
416,000
|
Bridgebio Pharma, Inc.
|
2.50%
|
03/15/27
|
465,727
|
|
|
393,000
|
Cytokinetics, Inc.
|
3.50%
|
07/01/27
|
675,488
|
|
|
810,000
|
Exact Sciences Corp.
|
0.38%
|
03/01/28
|
715,878
|
|
|
366,000
|
Exact Sciences Corp. (b)
|
2.00%
|
03/01/30
|
406,077
|
|
|
650,000
|
Halozyme Therapeutics, Inc.
|
1.00%
|
08/15/28
|
591,110
|
|
|
209,000
|
Immunocore Holdings PLC (b) (c)
|
2.50%
|
02/01/30
|
225,407
|
|
|
635,000
|
Insmed, Inc.
|
0.75%
|
06/01/28
|
691,832
|
|
|
485,000
|
Ionis Pharmaceuticals, Inc.
|
(a)
|
04/01/26
|
517,253
|
|
|
248,000
|
Ironwood Pharmaceuticals, Inc.
|
1.50%
|
06/15/26
|
313,366
|
|
|
348,000
|
Mirum Pharmaceuticals, Inc. (b)
|
4.00%
|
05/01/29
|
399,156
|
|
|
309,000
|
Natera, Inc.
|
2.25%
|
05/01/27
|
554,462
|
|
|
210,000
|
Neurocrine Biosciences, Inc.
|
2.25%
|
05/15/24
|
385,350
|
|
|
486,000
|
Sarepta Therapeutics, Inc.
|
1.25%
|
09/15/27
|
549,180
|
|
|
|
|
|
|
|
7,407,646
|
|
|
Broadline Retail — 0.6%
|
|
|||
|
446,000
|
Etsy, Inc.
|
0.13%
|
10/01/26
|
467,631
|
|
|
|
Capital Markets — 0.7%
|
|
|||
|
655,000
|
Coinbase Global, Inc.
|
0.50%
|
06/01/26
|
570,494
|
|
|
|
Commercial Services & Supplies — 0.6%
|
|
|||
|
480,000
|
Tetra Tech, Inc. (b)
|
2.25%
|
08/15/28
|
490,224
|
|
|
|
Communications Equipment — 0.7%
|
|
|||
|
519,000
|
Lumentum Holdings, Inc. (b)
|
1.50%
|
12/15/29
|
530,159
|
|
|
|
Construction & Engineering — 1.9%
|
|
|||
|
775,000
|
Fluor Corp. (b)
|
1.13%
|
08/15/29
|
820,144
|
|
|
615,000
|
Granite Construction, Inc. (b)
|
3.75%
|
05/15/28
|
724,285
|
|
|
|
|
|
|
|
1,544,429
|
|
|
Consumer Finance — 1.8%
|
|
|||
|
290,000
|
Bread Financial Holdings, Inc. (b)
|
4.25%
|
06/15/28
|
330,049
|
|
|
520,000
|
LendingTree, Inc.
|
0.50%
|
07/15/25
|
459,888
|
|
|
880,000
|
Upstart Holdings, Inc.
|
0.25%
|
08/15/26
|
649,528
|
|
|
|
|
|
|
|
1,439,465
|
|
Principal
Value
|
Description
|
Stated
Coupon
|
Stated
Maturity
|
Value
|
|
|
CONVERTIBLE CORPORATE BONDS AND NOTES (Continued)
|
|||||
|
|
Consumer Staples Distribution & Retail — 0.4%
|
|
|||
|
$345,000
|
Chefs’ (The) Warehouse, Inc.
|
2.38%
|
12/15/28
|
$343,724
|
|
|
|
Diversified Consumer Services — 0.4%
|
|
|||
|
268,000
|
Stride, Inc.
|
1.13%
|
09/01/27
|
344,380
|
|
|
|
Electric Utilities — 0.8%
|
|
|||
|
620,000
|
Duke Energy Corp. (b)
|
4.13%
|
04/15/26
|
619,070
|
|
|
|
Electrical Equipment — 0.5%
|
|
|||
|
471,000
|
Array Technologies, Inc.
|
1.00%
|
12/01/28
|
409,181
|
|
|
|
Electronic Equipment, Instruments & Components — 0.5%
|
|
|||
|
370,000
|
Advanced Energy Industries, Inc. (b)
|
2.50%
|
09/15/28
|
384,578
|
|
|
|
Entertainment — 2.7%
|
|
|||
|
1,201,000
|
Liberty Media Corp. (b)
|
2.38%
|
09/30/53
|
1,269,457
|
|
|
405,000
|
Liberty Media Corp.-Liberty Formula One
|
2.25%
|
08/15/27
|
428,123
|
|
|
390,000
|
Sphere Entertainment Co. (b)
|
3.50%
|
12/01/28
|
464,607
|
|
|
|
|
|
|
|
2,162,187
|
|
|
Financial Services — 2.4%
|
|
|||
|
645,000
|
Affirm Holdings, Inc.
|
(a)
|
11/15/26
|
514,001
|
|
|
576,000
|
Block, Inc.
|
0.25%
|
11/01/27
|
473,184
|
|
|
990,000
|
Shift4 Payments, Inc.
|
0.50%
|
08/01/27
|
922,581
|
|
|
|
|
|
|
|
1,909,766
|
|
|
Food Products — 1.1%
|
|
|||
|
339,000
|
Freshpet, Inc. (b)
|
3.00%
|
04/01/28
|
484,007
|
|
|
406,000
|
Post Holdings, Inc.
|
2.50%
|
08/15/27
|
423,458
|
|
|
|
|
|
|
|
907,465
|
|
|
Ground Transportation — 1.9%
|
|
|||
|
960,000
|
Uber Technologies, Inc.
|
(a)
|
12/15/25
|
997,888
|
|
|
485,000
|
Uber Technologies, Inc. (b)
|
0.88%
|
12/01/28
|
542,715
|
|
|
|
|
|
|
|
1,540,603
|
|
|
Health Care Equipment & Supplies — 6.3%
|
|
|||
|
605,000
|
Alphatec Holdings, Inc.
|
0.75%
|
08/01/26
|
663,080
|
|
|
566,000
|
CONMED Corp.
|
2.25%
|
06/15/27
|
540,530
|
|
|
1,150,000
|
Dexcom, Inc.
|
0.25%
|
11/15/25
|
1,194,275
|
|
|
404,000
|
Envista Holdings Corp. (b)
|
1.75%
|
08/15/28
|
368,044
|
|
|
550,000
|
Insulet Corp.
|
0.38%
|
09/01/26
|
588,500
|
|
|
430,000
|
Integer Holdings Corp. (b)
|
2.13%
|
02/15/28
|
560,720
|
|
|
446,000
|
Lantheus Holdings, Inc.
|
2.63%
|
12/15/27
|
463,840
|
|
|
402,000
|
Shockwave Medical, Inc. (b)
|
1.00%
|
08/15/28
|
423,306
|
|
|
240,000
|
TransMedics Group, Inc. (b)
|
1.50%
|
06/01/28
|
285,600
|
|
|
|
|
|
|
|
5,087,895
|
|
|
Health Care REITs — 1.3%
|
|
|||
|
590,000
|
Ventas Realty, L.P. (b)
|
3.75%
|
06/01/26
|
607,995
|
|
|
421,000
|
Welltower OP LLC (b)
|
2.75%
|
05/15/28
|
455,985
|
|
|
|
|
|
|
|
1,063,980
|
|
|
Health Care Technology — 0.5%
|
|
|||
|
378,000
|
Evolent Health, Inc. (b)
|
3.50%
|
12/01/29
|
414,666
|
|
|
Principal
Value
|
Description
|
Stated
Coupon
|
Stated
Maturity
|
Value
|
|
|
CONVERTIBLE CORPORATE BONDS AND NOTES (Continued)
|
|||||
|
|
Hotel & Resort REITs — 1.2%
|
|
|||
|
$512,000
|
Pebblebrook Hotel Trust
|
1.75%
|
12/15/26
|
$457,933
|
|
|
575,000
|
Summit Hotel Properties, Inc.
|
1.50%
|
02/15/26
|
509,162
|
|
|
|
|
|
|
|
967,095
|
|
|
Hotels, Restaurants & Leisure — 6.6%
|
|
|||
|
380,000
|
Booking Holdings, Inc.
|
0.75%
|
05/01/25
|
712,728
|
|
|
649,000
|
Carnival Corp.
|
5.75%
|
12/01/27
|
989,400
|
|
|
485,000
|
Cheesecake (The) Factory, Inc.
|
0.38%
|
06/15/26
|
418,943
|
|
|
660,000
|
DraftKings Holdings, Inc.
|
(a)
|
03/15/28
|
557,700
|
|
|
273,000
|
MakeMyTrip Ltd.
|
(a)
|
02/15/28
|
399,809
|
|
|
755,000
|
NCL Corp. Ltd.
|
1.13%
|
02/15/27
|
673,385
|
|
|
372,000
|
Penn Entertainment, Inc.
|
2.75%
|
05/15/26
|
440,597
|
|
|
420,000
|
Royal Caribbean Cruises Ltd.
|
6.00%
|
08/15/25
|
1,098,523
|
|
|
|
|
|
|
|
5,291,085
|
|
|
Independent Power and Renewable Electricity Producers — 0.6%
|
|
|||
|
854,000
|
Sunnova Energy International, Inc.
|
2.63%
|
02/15/28
|
446,215
|
|
|
|
Interactive Media & Services — 3.7%
|
|
|||
|
930,000
|
Liberty TripAdvisor Holdings, Inc. (b)
|
0.50%
|
06/30/51
|
846,858
|
|
|
510,000
|
Match Group Financeco 3, Inc. (b)
|
2.00%
|
01/15/30
|
455,481
|
|
|
498,000
|
Snap, Inc.
|
0.75%
|
08/01/26
|
522,527
|
|
|
1,475,000
|
Snap, Inc.
|
0.13%
|
03/01/28
|
1,174,100
|
|
|
|
|
|
|
|
2,998,966
|
|
|
IT Services — 4.0%
|
|
|||
|
1,165,000
|
Akamai Technologies, Inc.
|
0.13%
|
05/01/25
|
1,538,965
|
|
|
630,000
|
DigitalOcean Holdings, Inc.
|
(a)
|
12/01/26
|
519,372
|
|
|
605,000
|
MongoDB, Inc.
|
0.25%
|
01/15/26
|
1,171,583
|
|
|
|
|
|
|
|
3,229,920
|
|
|
Leisure Products — 0.5%
|
|
|||
|
504,000
|
Peloton Interactive, Inc.
|
(a)
|
02/15/26
|
403,178
|
|
|
|
Media — 0.3%
|
|
|||
|
200,000
|
DISH Network Corp.
|
2.38%
|
03/15/24
|
196,130
|
|
|
|
Metals & Mining — 1.8%
|
|
|||
|
165,000
|
ATI, Inc.
|
3.50%
|
06/15/25
|
440,963
|
|
|
323,000
|
Ivanhoe Mines Ltd. (b)
|
2.50%
|
04/15/26
|
482,671
|
|
|
625,000
|
MP Materials Corp. (b)
|
0.25%
|
04/01/26
|
539,437
|
|
|
|
|
|
|
|
1,463,071
|
|
|
Mortgage REITs — 0.3%
|
|
|||
|
271,000
|
Two Harbors Investment Corp.
|
6.25%
|
01/15/26
|
256,095
|
|
|
|
Multi-Utilities — 0.5%
|
|
|||
|
410,000
|
CenterPoint Energy, Inc. (b)
|
4.25%
|
08/15/26
|
411,025
|
|
|
|
Oil, Gas & Consumable Fuels — 1.1%
|
|
|||
|
98,000
|
Permian Resources Operating LLC
|
3.25%
|
04/01/28
|
227,301
|
|
|
265,000
|
Pioneer Natural Resources Co.
|
0.25%
|
05/15/25
|
658,525
|
|
|
|
|
|
|
|
885,826
|
|
|
Passenger Airlines — 1.3%
|
|
|||
|
438,000
|
American Airlines Group, Inc.
|
6.50%
|
07/01/25
|
494,940
|
|
|
646,000
|
JetBlue Airways Corp.
|
0.50%
|
04/01/26
|
524,892
|
|
|
|
|
|
|
|
1,019,832
|
|
Principal
Value
|
Description
|
Stated
Coupon
|
Stated
Maturity
|
Value
|
|
|
CONVERTIBLE CORPORATE BONDS AND NOTES (Continued)
|
|||||
|
|
Personal Care Products — 0.6%
|
|
|||
|
$640,000
|
Beauty Health (The) Co. (b)
|
1.25%
|
10/01/26
|
$480,000
|
|
|
|
Pharmaceuticals — 1.8%
|
|
|||
|
735,000
|
Amphastar Pharmaceuticals, Inc. (b)
|
2.00%
|
03/15/29
|
821,804
|
|
|
345,000
|
Jazz Investments I Ltd.
|
2.00%
|
06/15/26
|
348,105
|
|
|
433,000
|
Revance Therapeutics, Inc.
|
1.75%
|
02/15/27
|
300,664
|
|
|
|
|
|
|
|
1,470,573
|
|
|
Professional Services — 0.8%
|
|
|||
|
415,000
|
Parsons Corp.
|
0.25%
|
08/15/25
|
616,068
|
|
|
|
Real Estate Management & Development — 1.4%
|
|
|||
|
704,000
|
Redfin Corp.
|
0.50%
|
04/01/27
|
437,373
|
|
|
647,000
|
Zillow Group, Inc.
|
2.75%
|
05/15/25
|
709,306
|
|
|
|
|
|
|
|
1,146,679
|
|
|
Semiconductors & Semiconductor Equipment — 5.0%
|
|
|||
|
147,000
|
Camtek Ltd. (b)
|
(a)
|
12/01/26
|
209,769
|
|
|
399,000
|
Impinj, Inc.
|
1.13%
|
05/15/27
|
457,852
|
|
|
460,000
|
MACOM Technology Solutions Holdings, Inc.
|
0.25%
|
03/15/26
|
543,490
|
|
|
1,250,000
|
ON Semiconductor Corp. (b)
|
0.50%
|
03/01/29
|
1,218,125
|
|
|
600,000
|
SK Hynix, Inc. (d)
|
1.75%
|
04/11/30
|
794,100
|
|
|
1,286,000
|
Wolfspeed, Inc.
|
1.88%
|
12/01/29
|
742,665
|
|
|
|
|
|
|
|
3,966,001
|
|
|
Software — 14.2%
|
|
|||
|
374,000
|
Barclays Bank PLC
|
(a)
|
02/04/25
|
784,486
|
|
|
615,000
|
Bentley Systems, Inc.
|
0.13%
|
01/15/26
|
605,406
|
|
|
565,000
|
CyberArk Software Ltd.
|
(a)
|
11/15/24
|
852,585
|
|
|
485,000
|
Datadog, Inc.
|
0.13%
|
06/15/25
|
688,942
|
|
|
595,000
|
Dropbox, Inc.
|
(a)
|
03/01/28
|
624,750
|
|
|
381,000
|
HubSpot, Inc.
|
0.38%
|
06/01/25
|
831,532
|
|
|
208,000
|
InterDigital, Inc.
|
3.50%
|
06/01/27
|
297,440
|
|
|
230,000
|
MicroStrategy, Inc.
|
0.75%
|
12/15/25
|
325,887
|
|
|
528,000
|
MicroStrategy, Inc.
|
(a)
|
02/15/27
|
427,680
|
|
|
345,000
|
Nutanix, Inc.
|
0.25%
|
10/01/27
|
395,680
|
|
|
752,000
|
Palo Alto Networks, Inc.
|
0.38%
|
06/01/25
|
2,560,613
|
|
|
373,000
|
Rapid7, Inc. (b)
|
1.25%
|
03/15/29
|
408,211
|
|
|
375,000
|
Tyler Technologies, Inc.
|
0.25%
|
03/15/26
|
378,938
|
|
|
450,000
|
Unity Software, Inc.
|
(a)
|
11/15/26
|
376,200
|
|
|
211,000
|
Varonis Systems, Inc.
|
1.25%
|
08/15/25
|
320,615
|
|
|
700,000
|
Workiva, Inc. (b)
|
1.25%
|
08/15/28
|
676,200
|
|
|
516,000
|
Zscaler, Inc.
|
0.13%
|
07/01/25
|
827,406
|
|
|
|
|
|
|
|
11,382,571
|
|
|
Specialty Retail — 2.2%
|
|
|||
|
476,000
|
Burlington Stores, Inc. (b)
|
1.25%
|
12/15/27
|
543,592
|
|
|
980,000
|
Wayfair, Inc.
|
1.00%
|
08/15/26
|
847,700
|
|
|
366,000
|
Wayfair, Inc.
|
3.25%
|
09/15/27
|
402,380
|
|
|
|
|
|
|
|
1,793,672
|
|
|
Technology Hardware, Storage & Peripherals — 2.1%
|
|
|||
|
790,000
|
Seagate HDD Cayman (b)
|
3.50%
|
06/01/28
|
953,530
|
|
|
540,000
|
Western Digital Corp. (b)
|
3.00%
|
11/15/28
|
701,730
|
|
|
|
|
|
|
|
1,655,260
|
|
Principal
Value
|
Description
|
Stated
Coupon
|
Stated
Maturity
|
Value
|
|
|
CONVERTIBLE CORPORATE BONDS AND NOTES (Continued)
|
|||||
|
|
Water Utilities — 0.5%
|
|
|||
|
$420,000
|
American Water Capital Corp. (b)
|
3.63%
|
06/15/26
|
$414,960
|
|
|
|
Total Convertible Corporate Bonds and Notes
|
73,899,793
|
|||
|
|
(Cost $66,314,466)
|
|
|||
|
Shares
|
Description
|
|
Stated
Coupon
|
Stated
Maturity
|
Value
|
|
CONVERTIBLE PREFERRED SECURITIES — 7.2%
|
|||||
|
|
Banks — 3.5%
|
|
|||
|
1,095
|
Bank of America Corp., Series L
|
7.25%
|
(e)
|
1,333,546
|
|
|
1,255
|
Wells Fargo & Co., Series L
|
7.50%
|
(e)
|
1,518,550
|
|
|
|
|
|
|
|
2,852,096
|
|
|
Electric Utilities — 1.1%
|
|
|||
|
22,900
|
NextEra Energy, Inc.
|
6.93%
|
09/01/25
|
852,109
|
|
|
|
Financial Services — 1.2%
|
|
|||
|
17,000
|
Apollo Global Management, Inc.
|
6.75%
|
07/31/26
|
993,140
|
|
|
|
Machinery — 1.4%
|
|
|||
|
7,475
|
Chart Industries, Inc., Series B
|
6.75%
|
12/15/25
|
372,404
|
|
|
5,945
|
RBC Bearings, Inc., Series A
|
5.00%
|
10/15/24
|
731,354
|
|
|
|
|
|
|
|
1,103,758
|
|
|
Total Convertible Preferred Securities
|
5,801,103
|
|||
|
|
(Cost $5,745,136)
|
|
|||
|
Shares
|
Description
|
Value
|
|||
|
MONEY MARKET FUNDS — 0.5%
|
|||||
|
394,738
|
Dreyfus Government Cash Management Fund, Institutional Shares - 5.22% (f)
|
394,738
|
|||
|
|
(Cost $394,738)
|
|
|||
|
|
|||||
|
|
|||||
|
|
Total Investments — 99.6%
|
80,095,634
|
|||
|
|
(Cost $72,454,340)
|
|
|||
|
|
Net Other Assets and Liabilities — 0.4%
|
318,293
|
|||
|
|
Net Assets — 100.0%
|
$80,413,927
|
|||
|
(a)
|
Zero coupon security.
|
|
(b)
|
This security, sold within the terms of a private placement memorandum, is exempt from registration upon resale under
Rule 144A of the Securities Act of 1933, as amended (the “1933 Act”), and may be resold in transactions exempt from
registration, normally to qualified institutional buyers. Pursuant to procedures adopted by the Trust’s Board of Trustees, this
security has been determined to be liquid by First Trust Advisors L.P., the Fund’s advisor. Although market instability can result
in periods of increased overall market illiquidity, liquidity for each security is determined based on security specific factors
and
assumptions, which require subjective judgment. At January 31, 2024, securities noted as such amounted to $21,045,055 or 26.2%
of net assets.
|
|
(c)
|
When-issued security. The interest rate shown reflects the rate in effect at January 31, 2024. Interest will begin accruing
on the
security’s first settlement date.
|
|
(d)
|
This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the 1933
Act.
|
|
(e)
|
Perpetual maturity.
|
|
(f)
|
Rate shown reflects yield as of January 31, 2024.
|
|
|
Total
Value at
1/31/2024
|
Level 1
Quoted
Prices
|
Level 2
Significant
Observable
Inputs
|
Level 3
Significant
Unobservable
Inputs
|
|
Convertible Corporate Bonds and Notes*
|
$73,899,793
|
$—
|
$73,899,793
|
$—
|
|
Convertible Preferred Securities*
|
5,801,103
|
5,801,103
|
—
|
—
|
|
Money Market Funds
|
394,738
|
394,738
|
—
|
—
|
|
Total Investments
|
$80,095,634
|
$6,195,841
|
$73,899,793
|
$—
|
|
*
|
See Portfolio of Investments for industry breakout.
|