NPORT-EX 1 FirstTrustNewOpMLPEner.htm
First Trust New Opportunities MLP & Energy Fund (FPL)
Portfolio of Investments
July 31, 2019 (Unaudited)
Shares/
Units 		  Description   Value
MASTER LIMITED PARTNERSHIPS – 78.5%
    Chemicals – 0.8%    
92,300  
Westlake Chemical Partners, L.P. (a)
  $2,169,050
    Gas Utilities – 1.0%    
99,500  
Suburban Propane Partners, L.P. (a)
  2,442,725
    Independent Power and Renewable Electricity Producers – 4.5%    
14,800  
Brookfield Renewable Partners, L.P. (CAD) (a)
  529,965
231,160  
NextEra Energy Partners, L.P. (a) (b)
  11,243,623
        11,773,588
    Oil, Gas & Consumable Fuels – 72.2%    
474,280  
Alliance Resource Partners, L.P. (a)
  8,314,128
217,441  
BP Midstream Partners, L.P. (a)
  3,483,405
1,368,960  
Energy Transfer, L.P. (a) (c)
  19,685,645
1,599,864  
Enterprise Products Partners, L.P. (a) (c)
  48,171,905
478,217  
Holly Energy Partners, L.P. (a)
  13,925,679
396,810  
Magellan Midstream Partners, L.P. (a)
  26,245,013
170,100  
MPLX, L.P. (a)
  4,992,435
109,100  
Phillips 66 Partners, L.P. (a)
  5,701,566
767,700  
Plains All American Pipeline, L.P. (a) (c)
  18,255,906
437,700  
Shell Midstream Partners, L.P. (a)
  9,449,943
339,800  
Tallgrass Energy, L.P. (a) (b)
  6,513,966
619,556  
TC PipeLines, L.P. (a)
  25,085,823
        189,825,414
   
Total Master Limited Partnerships
  206,210,777
    (Cost $182,472,792)    
COMMON STOCKS – 52.5%
    Electric Utilities – 9.1%    
24,800  
American Electric Power Co., Inc. (a) (c)
  2,177,688
1,800  
Duke Energy Corp. (a)
  156,096
7,800  
Emera, Inc. (CAD) (a)
  323,867
8,300  
Eversource Energy (c)
  629,638
260,503  
Exelon Corp. (c)
  11,738,265
17,700  
NextEra Energy, Inc. (c)
  3,666,909
178,000  
PPL Corp. (c)
  5,274,140
1,565  
Xcel Energy, Inc. (a)
  93,290
        24,059,893
    Multi-Utilities – 3.3%    
14,801  
CMS Energy Corp. (a)
  861,714
135,881  
Public Service Enterprise Group, Inc. (c)
  7,765,599
        8,627,313
    Oil, Gas & Consumable Fuels – 40.1%    
491,985  
Enbridge, Inc. (a)
  16,427,379
194,493  
Equitrans Midstream Corp.
  3,226,639
238,400  
Inter Pipeline, Ltd. (CAD) (a)
  4,011,869
84,604  
Keyera Corp. (CAD) (a)
  2,152,601
1,132,628  
Kinder Morgan, Inc. (a)
  23,354,789
242,061  
ONEOK, Inc. (c)
  16,963,635
541,871  
TC Energy Corp. (a)
  26,530,004
First Trust New Opportunities MLP & Energy Fund (FPL)
Portfolio of Investments (Continued)
July 31, 2019 (Unaudited)
Shares/
Units 		  Description   Value
COMMON STOCKS (Continued)
    Oil, Gas & Consumable Fuels (Continued)    
515,866  
Williams (The) Cos., Inc. (c)
  $12,710,938
        105,377,854
   
Total Common Stocks
  138,065,060
    (Cost $131,729,900)    
REAL ESTATE INVESTMENT TRUSTS – 0.2%
    Equity Real Estate Investment Trusts – 0.2%    
16,418  
CorEnergy Infrastructure Trust, Inc. (a)
  664,436
    (Cost $519,995)    
   
Total Investments – 131.2%
  344,940,273
    (Cost $314,722,687) (d)    
    
Number of Contracts   Description   Notional Amount   Exercise Price   Expiration Date   Value
CALL OPTIONS WRITTEN – (0.4)%
225  
American Electric Power Co., Inc.
  $1,975,725   $92.50   Sep 2019   (10,125)
2,500  
Energy Transfer, L.P.
  3,595,000   15.00   Aug 2019   (15,000)
1,689  
Energy Transfer, L.P.
  2,428,782   15.00   Sep 2019   (33,780)
6,000  
Energy Transfer, L.P.
  8,628,000   16.00   Oct 2019   (84,000)
3,100  
Enterprise Products Partners, L.P.
  9,334,100   31.00   Dec 2019   (263,500)
78  
Eversource Energy
  591,708   80.00   Aug 2019   (780)
750  
Exelon Corp.
  3,379,500   49.00   Aug 2019   (7,500)
1,741  
Exelon Corp.
  7,844,946   55.00   Jan 2020   (26,115)
69  
NextEra Energy, Inc.
  1,429,473   210.00   Sep 2019   (23,460)
867  
ONEOK, Inc.
  6,075,936   70.00   Aug 2019   (69,360)
1,553  
ONEOK, Inc.
  10,883,424   70.00   Sep 2019   (264,010)
2,177  
Plains All American Pipeline, L.P.
  5,176,906   25.00   Sep 2019   (87,080)
1,500  
Plains All American Pipeline, L.P.
  3,567,000   26.00   Nov 2019   (52,500)
55  
PPL Corp. (e)
  162,965   33.00   Aug 2019   (275)
1,725  
PPL Corp.
  5,111,175   31.00   Sep 2019   (36,225)
1,299  
Public Service Enterprise Group, Inc. (e)
  7,423,785   65.00   Sep 2019   (6,495)
3,300  
Williams (The) Cos., Inc. (e)
  8,131,200   29.00   Aug 2019   (6,600)
   
Total Call Options Written
  (986,805)
    (Premiums received $1,177,658)                
    
 
Outstanding Loans – (33.9)%
(89,000,000)
 
Net Other Assets and Liabilities – 3.1%
7,892,244
 
Net Assets – 100.0%
$262,845,712
    
(a) All or a portion of this security serves as collateral on the outstanding loans.
(b) This security is taxed as a “C” corporation for federal income tax purposes.
(c) All or a portion of this security’s position represents cover for outstanding options written.
(d) Aggregate cost for federal income tax purposes was $284,711,047. As of July 31, 2019, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $68,788,296 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $9,545,875. The net unrealized appreciation was $59,242,421. The amounts presented are inclusive of derivative contracts.
(e) 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 the provisions of the Investment Company Act of 1940, as amended. At July 31, 2019, investments noted as such are valued at $(13,370) or (0.0)% of net assets.
    
CAD Canadian Dollar - Security is denominated in Canadian Dollars and is translated into U.S. Dollars based upon the current exchange rate.
First Trust New Opportunities MLP & Energy Fund (FPL)
Portfolio of Investments (Continued)
July 31, 2019 (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 July 31, 2019 is as follows:
ASSETS TABLE
  Total
Value at
7/31/2019 		Level 1
Quoted
Prices 		Level 2
Significant
Observable
Inputs 		Level 3
Significant
Unobservable
Inputs
Master Limited Partnerships*
$ 206,210,777 $ 206,210,777 $ — $ —
Common Stocks*
 138,065,060  138,065,060  —  —
Real Estate Investment Trusts*
 664,436  664,436  —  —
Total Investments
$ 344,940,273 $ 344,940,273 $— $—
LIABILITIES TABLE
  Total
Value at
7/31/2019 		Level 1
Quoted
Prices 		Level 2
Significant
Observable
Inputs 		Level 3
Significant
Unobservable
Inputs
Call Options Written
$ (986,805) $ (894,820) $ (91,985) $ —
    
* See Portfolio of Investments for industry breakout.