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      <invstOrSec>
        <name>US TREASURY N/B</name>
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        <name>MSILF Treasury Portfolio</name>
        <lei>549300D1XR6GP7EZ0T47</lei>
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        <cusip>61747C582</cusip>
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          <isin value="US61747C5821"/>
          <ticker value="MISXX"/>
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        <assetCat>STIV</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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        <name>COMMODITY EXCHANGE, INC.</name>
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        <name>ICE FUTURES EUROPE</name>
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          <ticker value="COU5"/>
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                <issuerName>BRENT CRUDE OIL</issuerName>
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      <invstOrSec>
        <name>THE LONDON METAL EXCHANGE</name>
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        <name>NEW YORK MERCANTILE EXCHANGE, INC.</name>
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      <invstOrSec>
        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>NEW YORK MERCANTILE EXCHANGE, INC.</name>
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          <ticker value="HOQ5"/>
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      <invstOrSec>
        <name>CHICAGO MERCANTILE EXCHANGE INC.</name>
        <lei>SNZ2OJLFK8MNNCLQOF39</lei>
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          <ticker value="LCQ5"/>
          <other otherDesc="ID_BB_GLOBAL" value="BBG01LQ63ZC6"/>
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      <invstOrSec>
        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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          <ticker value="SMQ5"/>
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      <invstOrSec>
        <name>ICE FUTURES U.S., INC.</name>
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          <ticker value="SBV5"/>
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      <invstOrSec>
        <name>NEW YORK MERCANTILE EXCHANGE, INC.</name>
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        <name>BOARD OF TRADE OF THE CITY OF CHICAGO, INC.</name>
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        <name>ICE FUTURES EUROPE</name>
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        <isRestrictedSec>N</isRestrictedSec>

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                  <cusip value="000000000"/>
                  <other otherDesc="INTERNAL" value="LOWSULPHURGASOIL"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2025-08-12</expDate>
            <notionalAmt>136387671.93000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>4735828.07000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHICAGO MERCANTILE EXCHANGE INC.</name>
        <lei>SNZ2OJLFK8MNNCLQOF39</lei>
        <title>LEAN HOGS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="LHQ5"/>
          <other otherDesc="ID_BB_GLOBAL" value="BBG01MBSY0M4"/>
        </identifiers>
        <balance>330.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-654304.80000000</valUSD>
        <pctVal>-0.02739843597</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>CHICAGO MERCANTILE EXCHANGE INC.</counterpartyName>
              <counterpartyLei>SNZ2OJLFK8MNNCLQOF39</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>LEAN HOGS</issuerName>
                <issueTitle>LEAN HOGS</issueTitle>
                <identifiers>
                  <cusip value="000000000"/>
                  <other otherDesc="INTERNAL" value="LEANHOGS"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2025-08-14</expDate>
            <notionalAmt>14844304.80000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-654304.80000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>US TREASURY N/B</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond</title>
        <cusip>91282CBT7</cusip>
        <identifiers>
          <isin value="US91282CBT71"/>
          <other otherDesc="SEDOL" value="BMDNPN7"/>
        </identifiers>
        <balance>275000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>268235970.75000000</valUSD>
        <pctVal>11.23214451411</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-08-25</ncom:dateSigned>
      <ncom:nameOfApplicant>FIRST TRUST EXCHANGE-TRADED FUND VII</ncom:nameOfApplicant>
      <ncom:signature>Derek Maltbie</ncom:signature>
      <ncom:signerName>Derek Maltbie</ncom:signerName>
      <ncom:title>Treasurer, Chief Financial Officer and Chief Accounting Officer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
