NPORT-EX 2 658537FT013124.htm EDGAR HTML
First Trust SSI Strategic Convertible Securities ETF (FCVT)
Portfolio of Investments
January 31, 2024 (Unaudited)
 
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
First Trust SSI Strategic Convertible Securities ETF (FCVT)
Portfolio of Investments (Continued)
January 31, 2024 (Unaudited)
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
First Trust SSI Strategic Convertible Securities ETF (FCVT)
Portfolio of Investments (Continued)
January 31, 2024 (Unaudited)
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
First Trust SSI Strategic Convertible Securities ETF (FCVT)
Portfolio of Investments (Continued)
January 31, 2024 (Unaudited)
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
First Trust SSI Strategic Convertible Securities ETF (FCVT)
Portfolio of Investments (Continued)
January 31, 2024 (Unaudited)
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.
First Trust SSI Strategic Convertible Securities ETF (FCVT)
Portfolio of Investments (Continued)
January 31, 2024 (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 January 31, 2024 is as follows:
 
 
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.