NPORT-EX 2 ftgc.htm FTGC EDGAR 3-31-23
First Trust Global Tactical Commodity Strategy Fund (FTGC)
Consolidated Portfolio of Investments
March 31, 2023 (Unaudited)
Principal
Value 		  Description   Stated
Coupon 		  Stated
Maturity 		  Value
U.S. TREASURY BILLS – 22.0%
$450,000,000  
U.S. Treasury Bill
  (a)   04/04/23   $449,942,625
200,000,000  
U.S. Treasury Bill
  (a)   04/06/23   199,923,124
   
Total U.S. Treasury Bills
  649,865,749
    (Cost $649,708,666)            
    
Shares   Description   Value
MONEY MARKET FUNDS – 51.6%
751,000,000  
Dreyfus Government Cash Management Fund, Institutional Shares - 4.71% (b)
  751,000,000
771,500,000  
Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class - 4.66% (b)
  771,500,000
   
Total Money Market Funds
  1,522,500,000
    (Cost $1,522,500,000)    
 
Total Investments – 73.6%
  2,172,365,749
  (Cost $2,172,208,666)   
 
Net Other Assets and Liabilities – 26.4%
  778,856,481
 
Net Assets – 100.0%
  $2,951,222,230
The following futures contracts of the Fund’s wholly-owned subsidiary were open at March 31, 2023:
Futures Contracts Long:   Number
of
Contracts 		  Notional
Value 		  Expiration
Date 		  Unrealized
Appreciation
(Depreciation)/
Value
Brent Crude Oil Futures   1,736   $138,689,040   Apr–23   $(4,437,423)
Cocoa Futures   571   16,747,430   May–23   764,849
Cocoa Futures   1,208   34,959,520   Jul–23   334,776
Coffee “C” Futures   47   3,005,063   May–23   (8,271)
Coffee “C” Futures   1,306   83,110,575   Jul–23   (2,199,254)
Copper Futures   95   9,724,437   May–23   (154,619)
Copper Futures   1,271   130,356,938   Jul–23   236,059
Corn Futures   2,912   96,168,800   May–23   (341,916)
Corn Futures   4,000   127,200,000   Jul–23   1,581,750
Cotton No. 2 Futures   838   34,818,900   Jul–23   586,717
Gasoline RBOB Futures   1,981   218,654,856   May–23   1,201,111
Gold 100 Oz. Futures   1,186   235,563,320   Jun–23   15,305,292
Kansas City Hard Red Winter Wheat Futures   653   28,658,537   May–23   123,670
Kansas City Hard Red Winter Wheat Futures   1,037   44,681,737   Jul–23   344,037
Lean Hogs Futures   763   27,963,950   Jun–23   418,678
Live Cattle Futures   757   49,091,450   Jun–23   1,519,871
LME Aluminum Futures   1,505   90,695,062   Jun–23   (4,383,995)
LME Lead Futures   764   40,258,025   Jun–23   (171,961)
LME Nickel Futures   570   81,495,180   Jun–23   (16,406,028)
LME Zinc Futures   793   57,983,169   Jun–23   (3,404,636)
Low Sulphur Gasoil “G” Futures   1,830   135,374,250   Jun–23   661,700
Natural Gas Futures   3,576   79,244,160   Apr–23   (15,103,978)
Natural Gas Futures   921   22,702,650   May–23   (4,548,814)
NY Harbor ULSD Futures   1,010   108,892,140   May–23   (3,022,615)
NY Harbor ULSD Futures   269   28,855,092   Jun–23   331,359
Platinum Futures   430   21,566,650   Jul–23   188,912
Silver Futures   1,289   155,685,420   May–23   11,140,758
Soybean Meal Futures   1,076   80,995,900   May–23   (738,524)
Soybean Meal Futures   1,163   54,195,800   May–23   (383,798)
Soybean Meal Futures   2,365   78,740,310   May–23   (8,506,982)
First Trust Global Tactical Commodity Strategy Fund (FTGC)
Consolidated Portfolio of Investments (Continued)
March 31, 2023 (Unaudited)
Futures Contracts Long: (Continued)   Number
of
Contracts 		  Notional
Value 		  Expiration
Date 		  Unrealized
Appreciation
(Depreciation)/
Value
Soybean Meal Futures   1,100   $36,709,200   Jul–23   $485,640
Soybean Meal Futures   2,401   177,133,775   Jul–23   3,617,851
Soybean Meal Futures   2,843   131,147,590   Jul–23   3,171,817
Sugar #11 (World) Futures   1,524   37,978,080   Apr–23   3,805,367
Sugar #11 (World) Futures   3,101   75,818,210   Jun–23   2,760,166
Wheat Futures   55   1,903,687   May–23   (198,205)
Wheat Futures   664   23,389,400   Jul–23   (222,363)
WTI Crude Futures   1,147   86,942,600   May–23   (1,236,891)
WTI Crude Futures   132   9,996,360   Jun–23   783,116
    Total   $2,897,097,263       $(16,106,777)
    
(a) Zero coupon bond.
(b) Rate shown reflects yield as of March 31, 2023.
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 March 31, 2023 is as follows:
ASSETS TABLE
  Total
Value at
3/31/2023 		Level 1
Quoted
Prices 		Level 2
Significant
Observable
Inputs 		Level 3
Significant
Unobservable
Inputs
U.S. Treasury Bills
$ 649,865,749 $ — $ 649,865,749 $ —
Money Market Funds
 1,522,500,000  1,522,500,000  —  —
Total Investments
 2,172,365,749  1,522,500,000  649,865,749  —
Futures Contracts
 51,305,665  51,305,665  —  —
Total
$ 2,223,671,414 $ 1,573,805,665 $ 649,865,749 $—
 
LIABILITIES TABLE
  Total
Value at
3/31/2023 		Level 1
Quoted
Prices 		Level 2
Significant
Observable
Inputs 		Level 3
Significant
Unobservable
Inputs
Futures Contracts
$ (67,412,442) $ (67,412,442) $ — $ —