NPORT-EX 2 750423FT05312025.htm EDGAR HTML
FT Vest Nasdaq-100® Conservative Buffer ETF - January (QCJA)
Portfolio of Investments
May 31, 2025 (Unaudited)
Shares
Description
Value
MONEY MARKET FUNDS — 0.9%
452,521
Dreyfus Government Cash Management Fund, Institutional Shares - 4.19% (a)
$452,521
(Cost $452,521)
Total Investments — 0.9%
452,521
(Cost $452,521)
Number of
Contracts
Description
Notional
Amount
Exercise
Price
Expiration
Date
Value
PURCHASED OPTIONS — 103.1%
Call Options Purchased — 97.2%
1,026
Invesco QQQ TrustSM, Series 1
$53,260,686
$5.21
01/16/26
52,597,592
(Cost $52,645,834)
 
 
Put Options Purchased — 5.9%
1,026
Invesco QQQ TrustSM, Series 1
53,260,686
521.73
01/16/26
3,197,396
(Cost $3,439,346)
 
 
Total Purchased Options
55,794,988
(Cost $56,085,180)
WRITTEN OPTIONS — (3.9)%
Call Options Written — (2.3)%
(1,026)
Invesco QQQ TrustSM, Series 1
(53,260,686
)
587.10
01/16/26
(1,233,816
)
(Premiums received $1,876,748)
 
 
Put Options Written — (1.6)%
(1,026)
Invesco QQQ TrustSM, Series 1
(53,260,686
)
417.38
01/16/26
(872,685
)
(Premiums received $977,592)
 
 
Total Written Options
(2,106,501
)
(Premiums received $2,854,340)
Net Other Assets and Liabilities — (0.1)%
(27,773
)
Net Assets — 100.0%
$54,113,235
(a)
Rate shown reflects yield as of May 31, 2025.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of May 31, 2025 is as follows (see Valuation Inputs in the Additional Information section):
ASSETS TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Money Market Funds
$452,521
$452,521
$
$
Purchased Options
55,794,988
55,794,988
Total
$56,247,509
$452,521
$55,794,988
$
LIABILITIES TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Written Options
$(2,106,501
)
$
$(2,106,501
)
$

FT Vest U.S. Equity Enhance & Moderate Buffer ETF - January (XJAN)
Portfolio of Investments
May 31, 2025 (Unaudited)
Shares
Description
Value
MONEY MARKET FUNDS — 1.0%
402,691
Dreyfus Government Cash Management Fund, Institutional Shares - 4.19% (a)
$402,691
(Cost $402,691)
Total Investments — 1.0%
402,691
(Cost $402,691)
Number of
Contracts
Description
Notional
Amount
Exercise
Price
Expiration
Date
Value
PURCHASED OPTIONS — 107.0%
Call Options Purchased — 101.9%
708
SPDR® S&P 500® ETF Trust
$41,728,812
$5.99
01/16/26
41,004,040
708
SPDR® S&P 500® ETF Trust
41,728,812
597.59
01/16/26
2,436,497
Total Call Options Purchased
43,440,537
(Cost $44,121,596)
Put Options Purchased — 5.1%
708
SPDR® S&P 500® ETF Trust
41,728,812
597.59
01/16/26
2,170,062
(Cost $2,510,462)
 
 
Total Purchased Options
45,610,599
(Cost $46,632,058)
WRITTEN OPTIONS — (7.9)%
Call Options Written — (6.1)%
(1,416)
SPDR® S&P 500® ETF Trust
(83,457,624
)
626.69
01/16/26
(2,602,594
)
(Premiums received $3,724,529)
 
 
Put Options Written — (1.8)%
(708)
SPDR® S&P 500® ETF Trust
(41,728,812
)
507.95
01/16/26
(757,008
)
(Premiums received $960,425)
 
 
Total Written Options
(3,359,602
)
(Premiums received $4,684,954)
Net Other Assets and Liabilities — (0.1)%
(28,749
)
Net Assets — 100.0%
$42,624,939
(a)
Rate shown reflects yield as of May 31, 2025.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of May 31, 2025 is as follows (see Valuation Inputs in the Additional Information section):
ASSETS TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Money Market Funds
$402,691
$402,691
$
$
Purchased Options
45,610,599
45,610,599
Total
$46,013,290
$402,691
$45,610,599
$

FT Vest U.S. Equity Enhance & Moderate Buffer ETF - January (XJAN)
Portfolio of Investments (Continued)
May 31, 2025 (Unaudited)
LIABILITIES TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Written Options
$(3,359,602
)
$
$(3,359,602
)
$

FT Vest Nasdaq-100® Moderate Buffer ETF - February (QMFE)
Portfolio of Investments
May 31, 2025 (Unaudited)
Shares
Description
Value
MONEY MARKET FUNDS — 1.0%
443,076
Dreyfus Government Cash Management Fund, Institutional Shares - 4.19% (a)
$443,076
(Cost $443,076)
Total Investments — 1.0%
443,076
(Cost $443,076)
Number of
Contracts
Description
Notional
Amount
Exercise
Price
Expiration
Date
Value
PURCHASED OPTIONS — 103.8%
Call Options Purchased — 97.2%
874
Invesco QQQ TrustSM, Series 1
$45,370,214
$5.25
02/20/26
44,820,677
(Cost $41,978,972)
 
 
Put Options Purchased — 6.6%
874
Invesco QQQ TrustSM, Series 1
45,370,214
526.07
02/20/26
3,016,515
(Cost $4,592,201)
 
 
Total Purchased Options
47,837,192
(Cost $46,571,173)
WRITTEN OPTIONS — (4.7)%
Call Options Written — (2.1)%
(874)
Invesco QQQ TrustSM, Series 1
(45,370,214
)
602.46
02/20/26
(940,669
)
(Premiums received $666,687)
 
 
Put Options Written — (2.6)%
(874)
Invesco QQQ TrustSM, Series 1
(45,370,214
)
447.16
02/20/26
(1,202,772
)
(Premiums received $1,902,816)
 
 
Total Written Options
(2,143,441
)
(Premiums received $2,569,503)
Net Other Assets and Liabilities — (0.1)%
(32,574
)
Net Assets — 100.0%
$46,104,253
(a)
Rate shown reflects yield as of May 31, 2025.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of May 31, 2025 is as follows (see Valuation Inputs in the Additional Information section):
ASSETS TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Money Market Funds
$443,076
$443,076
$
$
Purchased Options
47,837,192
47,837,192
Total
$48,280,268
$443,076
$47,837,192
$
LIABILITIES TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Written Options
$(2,143,441
)
$
$(2,143,441
)
$

FT Vest U.S. Equity Enhance & Moderate Buffer ETF - February (XFEB)
Portfolio of Investments
May 31, 2025 (Unaudited)
Shares
Description
Value
MONEY MARKET FUNDS — 1.0%
464,665
Dreyfus Government Cash Management Fund, Institutional Shares - 4.19% (a)
$464,665
(Cost $464,665)
Total Investments — 1.0%
464,665
(Cost $464,665)
Number of
Contracts
Description
Notional
Amount
Exercise
Price
Expiration
Date
Value
PURCHASED OPTIONS — 108.0%
Call Options Purchased — 102.5%
771
SPDR® S&P 500® ETF Trust
$45,441,969
$6.01
02/20/26
44,674,862
771
SPDR® S&P 500® ETF Trust
45,441,969
599.95
02/20/26
2,839,277
Total Call Options Purchased
47,514,139
(Cost $47,059,598)
Put Options Purchased — 5.5%
771
SPDR® S&P 500® ETF Trust
45,441,969
599.95
02/20/26
2,530,738
(Cost $3,318,207)
 
 
Total Purchased Options
50,044,877
(Cost $50,377,805)
WRITTEN OPTIONS — (8.9)%
Call Options Written — (6.9)%
(1,542)
SPDR® S&P 500® ETF Trust
(90,883,938
)
629.35
02/20/26
(3,178,031
)
(Premiums received $3,425,699)
 
 
Put Options Written — (2.0)%
(771)
SPDR® S&P 500® ETF Trust
(45,441,969
)
509.96
02/20/26
(940,165
)
(Premiums received $1,239,859)
 
 
Total Written Options
(4,118,196
)
(Premiums received $4,665,558)
Net Other Assets and Liabilities — (0.1)%
(32,387
)
Net Assets — 100.0%
$46,358,959
(a)
Rate shown reflects yield as of May 31, 2025.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of May 31, 2025 is as follows (see Valuation Inputs in the Additional Information section):
ASSETS TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Money Market Funds
$464,665
$464,665
$
$
Purchased Options
50,044,877
50,044,877
Total
$50,509,542
$464,665
$50,044,877
$

FT Vest U.S. Equity Enhance & Moderate Buffer ETF - February (XFEB)
Portfolio of Investments (Continued)
May 31, 2025 (Unaudited)
LIABILITIES TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Written Options
$(4,118,196
)
$
$(4,118,196
)
$

FT Vest International Equity Moderate Buffer ETF - March (YMAR)
Portfolio of Investments
May 31, 2025 (Unaudited)
Shares
Description
Value
MONEY MARKET FUNDS — 1.1%
1,417,043
Dreyfus Government Cash Management Fund, Institutional Shares - 4.19% (a)
$1,417,043
(Cost $1,417,043)
Total Investments — 1.1%
1,417,043
(Cost $1,417,043)
Number of
Contracts
Description
Notional
Amount
Exercise
Price
Expiration
Date
Value
PURCHASED OPTIONS — 102.9%
Call Options Purchased — 99.5%
15,500
iShares MSCI EAFE ETF
$137,655,500
$0.84
03/20/26
132,468,890
(Cost $125,361,150)
 
 
Put Options Purchased — 3.4%
15,500
iShares MSCI EAFE ETF
137,655,500
83.66
03/20/26
4,596,370
(Cost $7,104,053)
 
 
Total Purchased Options
137,065,260
(Cost $132,465,203)
WRITTEN OPTIONS — (3.9)%
Call Options Written — (2.1)%
(15,500)
iShares MSCI EAFE ETF
(137,655,500
)
96.54
03/20/26
(2,864,245
)
(Premiums received $1,158,152)
 
 
Put Options Written — (1.8)%
(15,500)
iShares MSCI EAFE ETF
(137,655,500
)
71.11
03/20/26
(2,369,175
)
(Premiums received $2,902,954)
 
 
Total Written Options
(5,233,420
)
(Premiums received $4,061,106)
Net Other Assets and Liabilities — (0.1)%
(89,990
)
Net Assets — 100.0%
$133,158,893
(a)
Rate shown reflects yield as of May 31, 2025.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of May 31, 2025 is as follows (see Valuation Inputs in the Additional Information section):
ASSETS TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Money Market Funds
$1,417,043
$1,417,043
$
$
Purchased Options
137,065,260
137,065,260
Total
$138,482,303
$1,417,043
$137,065,260
$
LIABILITIES TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Written Options
$(5,233,420
)
$
$(5,233,420
)
$

FT Vest Nasdaq-100® Buffer ETF - March (QMAR)
Portfolio of Investments
May 31, 2025 (Unaudited)
Shares
Description
Value
MONEY MARKET FUNDS — 1.0%
4,282,068
Dreyfus Government Cash Management Fund, Institutional Shares - 4.19% (a)
$4,282,068
(Cost $4,282,068)
Total Investments — 1.0%
4,282,068
(Cost $4,282,068)
Number of
Contracts
Description
Notional
Amount
Exercise
Price
Expiration
Date
Value
PURCHASED OPTIONS — 106.4%
Call Options Purchased — 102.1%
8,522
Invesco QQQ TrustSM, Series 1
$442,385,542
$4.80
03/20/26
437,587,315
(Cost $404,655,287)
 
 
Put Options Purchased — 4.3%
8,522
Invesco QQQ TrustSM, Series 1
442,385,542
480.83
03/20/26
18,532,623
(Cost $28,626,370)
 
 
Total Purchased Options
456,119,938
(Cost $433,281,657)
WRITTEN OPTIONS — (7.3)%
Call Options Written — (4.8)%
(8,522)
Invesco QQQ TrustSM, Series 1
(442,385,542
)
568.44
03/20/26
(20,796,322
)
(Premiums received $11,608,618)
 
 
Put Options Written — (2.5)%
(8,522)
Invesco QQQ TrustSM, Series 1
(442,385,542
)
432.75
03/20/26
(10,599,067
)
(Premiums received $15,969,822)
 
 
Total Written Options
(31,395,389
)
(Premiums received $27,578,440)
Net Other Assets and Liabilities — (0.1)%
(305,604
)
Net Assets — 100.0%
$428,701,013
(a)
Rate shown reflects yield as of May 31, 2025.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of May 31, 2025 is as follows (see Valuation Inputs in the Additional Information section):
ASSETS TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Money Market Funds
$4,282,068
$4,282,068
$
$
Purchased Options
456,119,938
456,119,938
Total
$460,402,006
$4,282,068
$456,119,938
$
LIABILITIES TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Written Options
$(31,395,389
)
$
$(31,395,389
)
$

FT Vest U.S. Equity Enhance & Moderate Buffer ETF - March (XMAR)
Portfolio of Investments
May 31, 2025 (Unaudited)
Shares
Description
Value
MONEY MARKET FUNDS — 1.0%
1,727,560
Dreyfus Government Cash Management Fund, Institutional Shares - 4.19% (a)
$1,727,560
(Cost $1,727,560)
Total Investments — 1.0%
1,727,560
(Cost $1,727,560)
Number of
Contracts
Description
Notional
Amount
Exercise
Price
Expiration
Date
Value
PURCHASED OPTIONS — 115.7%
Call Options Purchased — 111.5%
3,104
SPDR® S&P 500® ETF Trust
$182,946,656
$5.65
03/20/26
179,495,008
3,104
SPDR® S&P 500® ETF Trust
182,946,656
563.99
03/20/26
19,536,576
Total Call Options Purchased
199,031,584
(Cost $186,009,277)
Put Options Purchased — 4.2%
3,104
SPDR® S&P 500® ETF Trust
182,946,656
563.99
03/20/26
7,412,352
(Cost $10,178,797)
 
 
Total Purchased Options
206,443,936
(Cost $196,188,074)
WRITTEN OPTIONS — (16.6)%
Call Options Written — (14.9)%
(6,208)
SPDR® S&P 500® ETF Trust
(365,893,312
)
593.54
03/20/26
(26,607,488
)
(Premiums received $18,831,714)
 
 
Put Options Written — (1.7)%
(3,104)
SPDR® S&P 500® ETF Trust
(182,946,656
)
479.39
03/20/26
(2,982,944
)
(Premiums received $3,938,128)
 
 
Total Written Options
(29,590,432
)
(Premiums received $22,769,842)
Net Other Assets and Liabilities — (0.1)%
(93,566
)
Net Assets — 100.0%
$178,487,498
(a)
Rate shown reflects yield as of May 31, 2025.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of May 31, 2025 is as follows (see Valuation Inputs in the Additional Information section):
ASSETS TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Money Market Funds
$1,727,560
$1,727,560
$
$
Purchased Options
206,443,936
206,443,936
Total
$208,171,496
$1,727,560
$206,443,936
$

FT Vest U.S. Equity Enhance & Moderate Buffer ETF - March (XMAR)
Portfolio of Investments (Continued)
May 31, 2025 (Unaudited)
LIABILITIES TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Written Options
$(29,590,432
)
$
$(29,590,432
)
$

FT Vest Nasdaq-100® Conservative Buffer ETF - April (QCAP)
Portfolio of Investments
May 31, 2025 (Unaudited)
Shares
Description
Value
MONEY MARKET FUNDS — 1.0%
426,732
Dreyfus Government Cash Management Fund, Institutional Shares - 4.19% (a)
$426,732
(Cost $426,732)
Total Investments — 1.0%
426,732
(Cost $426,732)
Number of
Contracts
Description
Notional
Amount
Exercise
Price
Expiration
Date
Value
PURCHASED OPTIONS — 112.6%
Call Options Purchased — 109.3%
881
Invesco QQQ TrustSM, Series 1
$45,733,591
$4.43
04/17/26
45,213,114
(Cost $39,289,580)
 
 
Put Options Purchased — 3.3%
881
Invesco QQQ TrustSM, Series 1
45,733,591
444.09
04/17/26
1,348,089
(Cost $3,107,109)
 
 
Total Purchased Options
46,561,203
(Cost $42,396,689)
WRITTEN OPTIONS — (13.5)%
Call Options Written — (12.4)%
(881)
Invesco QQQ TrustSM, Series 1
(45,733,591
)
509.68
04/17/26
(5,117,474
)
(Premiums received $2,298,677)
 
 
Put Options Written — (1.1)%
(881)
Invesco QQQ TrustSM, Series 1
(45,733,591
)
355.27
04/17/26
(480,224
)
(Premiums received $1,081,761)
 
 
Total Written Options
(5,597,698
)
(Premiums received $3,380,438)
Net Other Assets and Liabilities — (0.1)%
(29,925
)
Net Assets — 100.0%
$41,360,312
(a)
Rate shown reflects yield as of May 31, 2025.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of May 31, 2025 is as follows (see Valuation Inputs in the Additional Information section):
ASSETS TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Money Market Funds
$426,732
$426,732
$
$
Purchased Options
46,561,203
46,561,203
Total
$46,987,935
$426,732
$46,561,203
$
LIABILITIES TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Written Options
$(5,597,698
)
$
$(5,597,698
)
$

FT Vest U.S. Equity Enhance & Moderate Buffer ETF - April (XAPR)
Portfolio of Investments
May 31, 2025 (Unaudited)
Shares
Description
Value
MONEY MARKET FUNDS — 1.2%
223,333
Dreyfus Government Cash Management Fund, Institutional Shares - 4.19% (a)
$223,333
(Cost $223,333)
Total Investments — 1.2%
223,333
(Cost $223,333)
Number of
Contracts
Description
Notional
Amount
Exercise
Price
Expiration
Date
Value
PURCHASED OPTIONS — 125.3%
Call Options Purchased — 122.2%
345
SPDR® S&P 500® ETF Trust
$20,333,955
$5.27
04/17/26
19,975,700
345
SPDR® S&P 500® ETF Trust
20,333,955
526.42
04/17/26
3,245,453
Total Call Options Purchased
23,221,153
(Cost $20,487,298)
Put Options Purchased — 3.1%
345
SPDR® S&P 500® ETF Trust
20,333,955
526.42
04/17/26
583,202
(Cost $1,115,670)
 
 
Total Purchased Options
23,804,355
(Cost $21,602,968)
WRITTEN OPTIONS — (26.4)%
Call Options Written — (25.1)%
(690)
SPDR® S&P 500® ETF Trust
(40,667,910
)
559.53
04/17/26
(4,758,358
)
(Premiums received $2,955,560)
 
 
Put Options Written — (1.3)%
(345)
SPDR® S&P 500® ETF Trust
(20,333,955
)
447.46
04/17/26
(254,120
)
(Premiums received $495,031)
 
 
Total Written Options
(5,012,478
)
(Premiums received $3,450,591)
Net Other Assets and Liabilities — (0.1)%
(19,130
)
Net Assets — 100.0%
$18,996,080
(a)
Rate shown reflects yield as of May 31, 2025.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of May 31, 2025 is as follows (see Valuation Inputs in the Additional Information section):
ASSETS TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Money Market Funds
$223,333
$223,333
$
$
Purchased Options
23,804,355
23,804,355
Total
$24,027,688
$223,333
$23,804,355
$

FT Vest U.S. Equity Enhance & Moderate Buffer ETF - April (XAPR)
Portfolio of Investments (Continued)
May 31, 2025 (Unaudited)
LIABILITIES TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Written Options
$(5,012,478
)
$
$(5,012,478
)
$

FT Vest Nasdaq-100® Moderate Buffer ETF - May (QMMY)
Portfolio of Investments
May 31, 2025 (Unaudited)
Shares
Description
Value
MONEY MARKET FUNDS — 1.2%
772,430
Dreyfus Government Cash Management Fund, Institutional Shares - 4.19% (a)
$772,430
(Cost $772,430)
Total Investments — 1.2%
772,430
(Cost $772,430)
Number of
Contracts
Description
Notional
Amount
Exercise
Price
Expiration
Date
Value
PURCHASED OPTIONS — 105.3%
Call Options Purchased — 98.2%
1,266
Invesco QQQ TrustSM, Series 1
$65,719,326
$5.21
05/15/26
64,893,894
(Cost $65,144,466)
 
 
Put Options Purchased — 7.1%
1,266
Invesco QQQ TrustSM, Series 1
65,719,326
521.50
05/15/26
4,681,668
(Cost $4,653,572)
 
 
Total Purchased Options
69,575,562
(Cost $69,798,038)
WRITTEN OPTIONS — (6.5)%
Call Options Written — (3.4)%
(1,266)
Invesco QQQ TrustSM, Series 1
(65,719,326
)
600.77
05/15/26
(2,243,352
)
(Premiums received $1,881,666)
 
 
Put Options Written — (3.1)%
(1,266)
Invesco QQQ TrustSM, Series 1
(65,719,326
)
443.27
05/15/26
(2,033,196
)
(Premiums received $2,462,912)
 
 
Total Written Options
(4,276,548
)
(Premiums received $4,344,578)
Net Other Assets and Liabilities — (0.0)%
(31,406
)
Net Assets — 100.0%
$66,040,038
(a)
Rate shown reflects yield as of May 31, 2025.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of May 31, 2025 is as follows (see Valuation Inputs in the Additional Information section):
ASSETS TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Money Market Funds
$772,430
$772,430
$
$
Purchased Options
69,575,562
69,575,562
Total
$70,347,992
$772,430
$69,575,562
$
LIABILITIES TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Written Options
$(4,276,548
)
$
$(4,276,548
)
$

FT Vest U.S. Equity Enhance & Moderate Buffer ETF - May (XMAY)
Portfolio of Investments
May 31, 2025 (Unaudited)
Shares
Description
Value
MONEY MARKET FUNDS — 1.1%
210,883
Dreyfus Government Cash Management Fund, Institutional Shares - 4.19% (a)
$210,883
(Cost $210,883)
Total Investments — 1.1%
210,883
(Cost $210,883)
Number of
Contracts
Description
Notional
Amount
Exercise
Price
Expiration
Date
Value
PURCHASED OPTIONS — 111.6%
Call Options Purchased — 105.8%
316
SPDR® S&P 500® ETF Trust
$18,624,724
$5.95
05/15/26
18,284,714
316
SPDR® S&P 500® ETF Trust
18,624,724
594.21
05/15/26
1,520,463
Total Call Options Purchased
19,805,177
(Cost $19,985,545)
Put Options Purchased — 5.8%
316
SPDR® S&P 500® ETF Trust
18,624,724
594.21
05/15/26
1,083,109
(Cost $1,047,563)
 
 
Total Purchased Options
20,888,286
(Cost $21,033,108)
WRITTEN OPTIONS — (12.6)%
Call Options Written — (10.2)%
(632)
SPDR® S&P 500® ETF Trust
(37,249,448
)
625.05
05/15/26
(1,902,427
)
(Premiums received $2,057,962)
 
 
Put Options Written — (2.4)%
(316)
SPDR® S&P 500® ETF Trust
(18,624,724
)
505.08
05/15/26
(452,108
)
(Premiums received $417,305)
 
 
Total Written Options
(2,354,535
)
(Premiums received $2,475,267)
Net Other Assets and Liabilities — (0.1)%
(24,809
)
Net Assets — 100.0%
$18,719,825
(a)
Rate shown reflects yield as of May 31, 2025.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of May 31, 2025 is as follows (see Valuation Inputs in the Additional Information section):
ASSETS TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Money Market Funds
$210,883
$210,883
$
$
Purchased Options
20,888,286
20,888,286
Total
$21,099,169
$210,883
$20,888,286
$

FT Vest U.S. Equity Enhance & Moderate Buffer ETF - May (XMAY)
Portfolio of Investments (Continued)
May 31, 2025 (Unaudited)
LIABILITIES TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Written Options
$(2,354,535
)
$
$(2,354,535
)
$

FT Vest International Equity Moderate Buffer ETF - June (YJUN)
Portfolio of Investments
May 31, 2025 (Unaudited)
Shares
Description
Value
MONEY MARKET FUNDS — 0.4%
545,167
Dreyfus Government Cash Management Fund, Institutional Shares - 4.19% (a)
$545,167
(Cost $545,167)
Total Investments — 0.4%
545,167
(Cost $545,167)
Number of
Contracts
Description
Notional
Amount
Exercise
Price
Expiration
Date
Value
PURCHASED OPTIONS — 99.9%
Call Options Purchased — 99.8%
16,681
iShares MSCI EAFE ETF
$148,143,961
$0.78
06/20/25
144,493,157
(Cost $125,993,614)
 
 
Put Options Purchased — 0.1%
16,681
iShares MSCI EAFE ETF
148,143,961
77.95
06/20/25
157,302
(Cost $8,091,713)
 
 
Total Purchased Options
144,650,459
(Cost $134,085,327)
WRITTEN OPTIONS — (0.2)%
Call Options Written — (0.2)%
(16,681)
iShares MSCI EAFE ETF
(148,143,961
)
90.74
06/20/25
(252,717
)
(Premiums received $1,091,883)
 
 
Put Options Written — (0.0)%
(16,681)
iShares MSCI EAFE ETF
(148,143,961
)
66.26
06/20/25
(26,189
)
(Premiums received $1,378,017)
 
 
Total Written Options
(278,906
)
(Premiums received $2,469,900)
Net Other Assets and Liabilities — (0.1)%
(112,707
)
Net Assets — 100.0%
$144,804,013
(a)
Rate shown reflects yield as of May 31, 2025.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of May 31, 2025 is as follows (see Valuation Inputs in the Additional Information section):
ASSETS TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Money Market Funds
$545,167
$545,167
$
$
Purchased Options
144,650,459
144,650,459
Total
$145,195,626
$545,167
$144,650,459
$
LIABILITIES TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Written Options
$(278,906
)
$
$(278,906
)
$

FT Vest Nasdaq-100® Buffer ETF - June (QJUN)
Portfolio of Investments
May 31, 2025 (Unaudited)
Shares
Description
Value
MONEY MARKET FUNDS — 0.4%
1,905,856
Dreyfus Government Cash Management Fund, Institutional Shares - 4.19% (a)
$1,905,856
(Cost $1,905,856)
Total Investments — 0.4%
1,905,856
(Cost $1,905,856)
Number of
Contracts
Description
Notional
Amount
Exercise
Price
Expiration
Date
Value
PURCHASED OPTIONS — 99.8%
Call Options Purchased — 99.5%
11,149
Invesco QQQ TrustSM, Series 1
$578,755,739
$4.79
06/20/25
573,455,058
(Cost $533,678,465)
 
 
Put Options Purchased — 0.3%
11,149
Invesco QQQ TrustSM, Series 1
578,755,739
480.17
06/20/25
1,862,775
(Cost $28,347,298)
 
 
Total Purchased Options
575,317,833
(Cost $562,025,763)
WRITTEN OPTIONS — (0.1)%
Call Options Written — (0.0)%
(11,149)
Invesco QQQ TrustSM, Series 1
(578,755,739
)
572.84
06/20/25
(113,497
)
(Premiums received $8,471,688)
 
 
Put Options Written — (0.1)%
(11,149)
Invesco QQQ TrustSM, Series 1
(578,755,739
)
432.15
06/20/25
(309,273
)
(Premiums received $12,921,807)
 
 
Total Written Options
(422,770
)
(Premiums received $21,393,495)
Net Other Assets and Liabilities — (0.1)%
(376,032
)
Net Assets — 100.0%
$576,424,887
(a)
Rate shown reflects yield as of May 31, 2025.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of May 31, 2025 is as follows (see Valuation Inputs in the Additional Information section):
ASSETS TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Money Market Funds
$1,905,856
$1,905,856
$
$
Purchased Options
575,317,833
575,317,833
Total
$577,223,689
$1,905,856
$575,317,833
$
LIABILITIES TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Written Options
$(422,770
)
$
$(422,770
)
$

FT Vest U.S. Equity Enhance & Moderate Buffer ETF - June (XJUN)
Portfolio of Investments
May 31, 2025 (Unaudited)
Shares
Description
Value
MONEY MARKET FUNDS — 0.4%
537,142
Dreyfus Government Cash Management Fund, Institutional Shares - 4.19% (a)
$537,142
(Cost $537,142)
Total Investments — 0.4%
537,142
(Cost $537,142)
Number of
Contracts
Description
Notional
Amount
Exercise
Price
Expiration
Date
Value
PURCHASED OPTIONS — 106.4%
Call Options Purchased — 106.2%
2,633
SPDR® S&P 500® ETF Trust
$155,186,387
$5.46
06/20/25
153,289,626
2,633
SPDR® S&P 500® ETF Trust
155,186,387
544.52
06/20/25
12,045,659
Total Call Options Purchased
165,335,285
(Cost $154,646,804)
Put Options Purchased — 0.2%
2,633
SPDR® S&P 500® ETF Trust
155,186,387
544.52
06/20/25
320,252
(Cost $7,175,152)
 
 
Total Purchased Options
165,655,537
(Cost $161,821,956)
WRITTEN OPTIONS — (6.7)%
Call Options Written — (6.7)%
(5,266)
SPDR® S&P 500® ETF Trust
(310,372,774
)
573.65
06/20/25
(10,407,406
)
(Premiums received $13,983,224)
 
 
Put Options Written — (0.0)%
(2,633)
SPDR® S&P 500® ETF Trust
(155,186,387
)
462.84
06/20/25
(37,441
)
(Premiums received $1,909,999)
 
 
Total Written Options
(10,444,847
)
(Premiums received $15,893,223)
Net Other Assets and Liabilities — (0.1)%
(110,154
)
Net Assets — 100.0%
$155,637,678
(a)
Rate shown reflects yield as of May 31, 2025.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of May 31, 2025 is as follows (see Valuation Inputs in the Additional Information section):
ASSETS TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Money Market Funds
$537,142
$537,142
$
$
Purchased Options
165,655,537
165,655,537
Total
$166,192,679
$537,142
$165,655,537
$

FT Vest U.S. Equity Enhance & Moderate Buffer ETF - June (XJUN)
Portfolio of Investments (Continued)
May 31, 2025 (Unaudited)
LIABILITIES TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Written Options
$(10,444,847
)
$
$(10,444,847
)
$

FT Vest Nasdaq-100® Conservative Buffer ETF - July (QCJL)
Portfolio of Investments
May 31, 2025 (Unaudited)
Shares
Description
Value
MONEY MARKET FUNDS — 0.4%
171,930
Dreyfus Government Cash Management Fund, Institutional Shares - 4.19% (a)
$171,930
(Cost $171,930)
Total Investments — 0.4%
171,930
(Cost $171,930)
Number of
Contracts
Description
Notional
Amount
Exercise
Price
Expiration
Date
Value
PURCHASED OPTIONS — 100.9%
Call Options Purchased — 100.1%
987
Invesco QQQ TrustSM, Series 1
$51,236,157
$4.74
07/18/25
50,718,002
(Cost $46,384,697)
 
 
Put Options Purchased — 0.8%
987
Invesco QQQ TrustSM, Series 1
51,236,157
475.23
07/18/25
422,120
(Cost $3,708,372)
 
 
Total Purchased Options
51,140,122
(Cost $50,093,069)
WRITTEN OPTIONS — (1.2)%
Call Options Written — (1.1)%
(987)
Invesco QQQ TrustSM, Series 1
(51,236,157
)
541.81
07/18/25
(558,770
)
(Premiums received $967,911)
 
 
Put Options Written — (0.1)%
(987)
Invesco QQQ TrustSM, Series 1
(51,236,157
)
380.18
07/18/25
(45,471
)
(Premiums received $747,446)
 
 
Total Written Options
(604,241
)
(Premiums received $1,715,357)
Net Other Assets and Liabilities — (0.1)%
(37,624
)
Net Assets — 100.0%
$50,670,187
(a)
Rate shown reflects yield as of May 31, 2025.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of May 31, 2025 is as follows (see Valuation Inputs in the Additional Information section):
ASSETS TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Money Market Funds
$171,930
$171,930
$
$
Purchased Options
51,140,122
51,140,122
Total
$51,312,052
$171,930
$51,140,122
$
LIABILITIES TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Written Options
$(604,241
)
$
$(604,241
)
$

FT Vest U.S. Equity Enhance & Moderate Buffer ETF - July (XJUL)
Portfolio of Investments
May 31, 2025 (Unaudited)
Shares
Description
Value
MONEY MARKET FUNDS — 0.4%
279,839
Dreyfus Government Cash Management Fund, Institutional Shares - 4.19% (a)
$279,839
(Cost $279,839)
Total Investments — 0.4%
279,839
(Cost $279,839)
Number of
Contracts
Description
Notional
Amount
Exercise
Price
Expiration
Date
Value
PURCHASED OPTIONS — 107.4%
Call Options Purchased — 106.6%
1,113
SPDR® S&P 500® ETF Trust
$65,599,107
$5.50
07/18/25
64,808,098
1,113
SPDR® S&P 500® ETF Trust
65,599,107
549.00
07/18/25
5,176,674
Total Call Options Purchased
69,984,772
(Cost $65,990,904)
Put Options Purchased — 0.8%
1,113
SPDR® S&P 500® ETF Trust
65,599,107
549.00
07/18/25
494,740
(Cost $2,439,103)
 
 
Total Purchased Options
70,479,512
(Cost $68,430,007)
WRITTEN OPTIONS — (7.7)%
Call Options Written — (7.6)%
(2,226)
SPDR® S&P 500® ETF Trust
(131,198,214
)
578.43
07/18/25
(4,974,910
)
(Premiums received $5,086,835)
 
 
Put Options Written — (0.1)%
(1,113)
SPDR® S&P 500® ETF Trust
(65,599,107
)
466.65
07/18/25
(79,880
)
(Premiums received $730,986)
 
 
Total Written Options
(5,054,790
)
(Premiums received $5,817,821)
Net Other Assets and Liabilities — (0.1)%
(46,230
)
Net Assets — 100.0%
$65,658,331
(a)
Rate shown reflects yield as of May 31, 2025.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of May 31, 2025 is as follows (see Valuation Inputs in the Additional Information section):
ASSETS TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Money Market Funds
$279,839
$279,839
$
$
Purchased Options
70,479,512
70,479,512
Total
$70,759,351
$279,839
$70,479,512
$

FT Vest U.S. Equity Enhance & Moderate Buffer ETF - July (XJUL)
Portfolio of Investments (Continued)
May 31, 2025 (Unaudited)
LIABILITIES TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Written Options
$(5,054,790
)
$
$(5,054,790
)
$

FT Vest Nasdaq-100® Moderate Buffer ETF - August (QMAG)
Portfolio of Investments
May 31, 2025 (Unaudited)
Shares
Description
Value
MONEY MARKET FUNDS — 0.4%
116,551
Dreyfus Government Cash Management Fund, Institutional Shares - 4.19% (a)
$116,551
(Cost $116,551)
Total Investments — 0.4%
116,551
(Cost $116,551)
Number of
Contracts
Description
Notional
Amount
Exercise
Price
Expiration
Date
Value
PURCHASED OPTIONS — 101.8%
Call Options Purchased — 100.4%
546
Invesco QQQ TrustSM, Series 1
$28,343,406
$4.74
08/15/25
28,061,839
(Cost $26,103,644)
 
 
Put Options Purchased — 1.4%
546
Invesco QQQ TrustSM, Series 1
28,343,406
475.02
08/15/25
389,085
(Cost $1,893,839)
 
 
Total Purchased Options
28,450,924
(Cost $27,997,483)
WRITTEN OPTIONS — (2.1)%
Call Options Written — (1.8)%
(546)
Invesco QQQ TrustSM, Series 1
(28,343,406
)
544.85
08/15/25
(502,828
)
(Premiums received $640,925)
 
 
Put Options Written — (0.3)%
(546)
Invesco QQQ TrustSM, Series 1
(28,343,406
)
403.77
08/15/25
(96,467
)
(Premiums received $550,188)
 
 
Total Written Options
(599,295
)
(Premiums received $1,191,113)
Net Other Assets and Liabilities — (0.1)%
(20,652
)
Net Assets — 100.0%
$27,947,528
(a)
Rate shown reflects yield as of May 31, 2025.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of May 31, 2025 is as follows (see Valuation Inputs in the Additional Information section):
ASSETS TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Money Market Funds
$116,551
$116,551
$
$
Purchased Options
28,450,924
28,450,924
Total
$28,567,475
$116,551
$28,450,924
$
LIABILITIES TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Written Options
$(599,295
)
$
$(599,295
)
$

FT Vest U.S. Equity Enhance & Moderate Buffer ETF - August (XAUG)
Portfolio of Investments
May 31, 2025 (Unaudited)
Shares
Description
Value
MONEY MARKET FUNDS — 0.4%
237,561
Dreyfus Government Cash Management Fund, Institutional Shares - 4.19% (a)
$237,561
(Cost $237,561)
Total Investments — 0.4%
237,561
(Cost $237,561)
Number of
Contracts
Description
Notional
Amount
Exercise
Price
Expiration
Date
Value
PURCHASED OPTIONS — 108.6%
Call Options Purchased — 107.2%
911
SPDR® S&P 500® ETF Trust
$53,693,429
$5.55
08/15/25
53,051,247
911
SPDR® S&P 500® ETF Trust
53,693,429
554.32
08/15/25
4,254,051
Total Call Options Purchased
57,305,298
(Cost $54,750,316)
Put Options Purchased — 1.4%
911
SPDR® S&P 500® ETF Trust
53,693,429
554.32
08/15/25
722,505
(Cost $2,374,540)
 
 
Total Purchased Options
58,027,803
(Cost $57,124,856)
WRITTEN OPTIONS — (8.9)%
Call Options Written — (8.6)%
(1,822)
SPDR® S&P 500® ETF Trust
(107,386,858
)
581.87
08/15/25
(4,616,037
)
(Premiums received $3,587,179)
 
 
Put Options Written — (0.3)%
(911)
SPDR® S&P 500® ETF Trust
(53,693,429
)
471.17
08/15/25
(153,057
)
(Premiums received $524,331)
 
 
Total Written Options
(4,769,094
)
(Premiums received $4,111,510)
Net Other Assets and Liabilities — (0.1)%
(41,164
)
Net Assets — 100.0%
$53,455,106
(a)
Rate shown reflects yield as of May 31, 2025.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of May 31, 2025 is as follows (see Valuation Inputs in the Additional Information section):
ASSETS TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Money Market Funds
$237,561
$237,561
$
$
Purchased Options
58,027,803
58,027,803
Total
$58,265,364
$237,561
$58,027,803
$

FT Vest U.S. Equity Enhance & Moderate Buffer ETF - August (XAUG)
Portfolio of Investments (Continued)
May 31, 2025 (Unaudited)
LIABILITIES TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Written Options
$(4,769,094
)
$
$(4,769,094
)
$

FT Vest International Equity Moderate Buffer ETF - September (YSEP)
Portfolio of Investments
May 31, 2025 (Unaudited)
Shares
Description
Value
MONEY MARKET FUNDS — 0.6%
631,688
Dreyfus Government Cash Management Fund, Institutional Shares - 4.19% (a)
$631,688
(Cost $631,688)
Total Investments — 0.6%
631,688
(Cost $631,688)
Number of
Contracts
Description
Notional
Amount
Exercise
Price
Expiration
Date
Value
PURCHASED OPTIONS — 100.9%
Call Options Purchased — 99.6%
12,101
iShares MSCI EAFE ETF
$107,468,981
$0.82
09/19/25
104,721,086
(Cost $96,005,910)
 
 
Put Options Purchased — 1.3%
12,101
iShares MSCI EAFE ETF
107,468,981
82.26
09/19/25
1,396,455
(Cost $5,330,910)
 
 
Total Purchased Options
106,117,541
(Cost $101,336,820)
WRITTEN OPTIONS — (1.4)%
Call Options Written — (1.0)%
(12,101)
iShares MSCI EAFE ETF
(107,468,981
)
93.34
09/19/25
(1,074,811
)
(Premiums received $743,548)
 
 
Put Options Written — (0.4)%
(12,101)
iShares MSCI EAFE ETF
(107,468,981
)
69.92
09/19/25
(412,160
)
(Premiums received $1,233,755)
 
 
Total Written Options
(1,486,971
)
(Premiums received $1,977,303)
Net Other Assets and Liabilities — (0.1)%
(77,280
)
Net Assets — 100.0%
$105,184,978
(a)
Rate shown reflects yield as of May 31, 2025.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of May 31, 2025 is as follows (see Valuation Inputs in the Additional Information section):
ASSETS TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Money Market Funds
$631,688
$631,688
$
$
Purchased Options
106,117,541
106,117,541
Total
$106,749,229
$631,688
$106,117,541
$
LIABILITIES TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Written Options
$(1,486,971
)
$
$(1,486,971
)
$

FT Vest Nasdaq-100® Buffer ETF - September (QSPT)
Portfolio of Investments
May 31, 2025 (Unaudited)
Shares
Description
Value
MONEY MARKET FUNDS — 0.5%
2,127,641
Dreyfus Government Cash Management Fund, Institutional Shares - 4.19% (a)
$2,127,641
(Cost $2,127,641)
Total Investments — 0.5%
2,127,641
(Cost $2,127,641)
Number of
Contracts
Description
Notional
Amount
Exercise
Price
Expiration
Date
Value
PURCHASED OPTIONS — 101.9%
Call Options Purchased — 99.7%
7,572
Invesco QQQ TrustSM, Series 1
$393,070,092
$4.81
09/19/25
389,201,860
(Cost $361,302,152)
 
 
Put Options Purchased — 2.2%
7,572
Invesco QQQ TrustSM, Series 1
393,070,092
482.43
09/19/25
8,717,720
(Cost $25,542,017)
 
 
Total Purchased Options
397,919,580
(Cost $386,844,169)
WRITTEN OPTIONS — (2.3)%
Call Options Written — (1.3)%
(7,572)
Invesco QQQ TrustSM, Series 1
(393,070,092
)
566.09
09/19/25
(5,319,860
)
(Premiums received $8,095,959)
 
 
Put Options Written — (1.0)%
(7,572)
Invesco QQQ TrustSM, Series 1
(393,070,092
)
434.19
09/19/25
(3,878,076
)
(Premiums received $12,632,115)
 
 
Total Written Options
(9,197,936
)
(Premiums received $20,728,074)
Net Other Assets and Liabilities — (0.1)%
(285,816
)
Net Assets — 100.0%
$390,563,469
(a)
Rate shown reflects yield as of May 31, 2025.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of May 31, 2025 is as follows (see Valuation Inputs in the Additional Information section):
ASSETS TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Money Market Funds
$2,127,641
$2,127,641
$
$
Purchased Options
397,919,580
397,919,580
Total
$400,047,221
$2,127,641
$397,919,580
$
LIABILITIES TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Written Options
$(9,197,936
)
$
$(9,197,936
)
$

FT Vest U.S. Equity Enhance & Moderate Buffer ETF - September (XSEP)
Portfolio of Investments
May 31, 2025 (Unaudited)
Shares
Description
Value
MONEY MARKET FUNDS — 0.6%
687,349
Dreyfus Government Cash Management Fund, Institutional Shares - 4.19% (a)
$687,349
(Cost $687,349)
Total Investments — 0.6%
687,349
(Cost $687,349)
Number of
Contracts
Description
Notional
Amount
Exercise
Price
Expiration
Date
Value
PURCHASED OPTIONS — 107.4%
Call Options Purchased — 105.0%
2,120
SPDR® S&P 500® ETF Trust
$124,950,680
$5.69
09/19/25
123,106,979
2,120
SPDR® S&P 500® ETF Trust
124,950,680
568.26
09/19/25
8,486,551
Total Call Options Purchased
131,593,530
(Cost $126,971,602)
Put Options Purchased — 2.4%
2,120
SPDR® S&P 500® ETF Trust
124,950,680
568.26
09/19/25
3,010,485
(Cost $6,237,560)
 
 
Total Purchased Options
134,604,015
(Cost $133,209,162)
WRITTEN OPTIONS — (7.9)%
Call Options Written — (7.3)%
(4,240)
SPDR® S&P 500® ETF Trust
(249,901,360
)
595.02
09/19/25
(9,134,910
)
(Premiums received $10,165,860)
 
 
Put Options Written — (0.6)%
(2,120)
SPDR® S&P 500® ETF Trust
(124,950,680
)
483.02
09/19/25
(759,363
)
(Premiums received $1,412,372)
 
 
Total Written Options
(9,894,273
)
(Premiums received $11,578,232)
Net Other Assets and Liabilities — (0.1)%
(90,770
)
Net Assets — 100.0%
$125,306,321
(a)
Rate shown reflects yield as of May 31, 2025.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of May 31, 2025 is as follows (see Valuation Inputs in the Additional Information section):
ASSETS TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Money Market Funds
$687,349
$687,349
$
$
Purchased Options
134,604,015
134,604,015
Total
$135,291,364
$687,349
$134,604,015
$

FT Vest U.S. Equity Enhance & Moderate Buffer ETF - September (XSEP)
Portfolio of Investments (Continued)
May 31, 2025 (Unaudited)
LIABILITIES TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Written Options
$(9,894,273
)
$
$(9,894,273
)
$

FT Vest Nasdaq-100® Conservative Buffer ETF - October (QCOC)
Portfolio of Investments
May 31, 2025 (Unaudited)
Shares
Description
Value
MONEY MARKET FUNDS — 0.6%
223,699
Dreyfus Government Cash Management Fund, Institutional Shares - 4.19% (a)
$223,699
(Cost $223,699)
Total Investments — 0.6%
223,699
(Cost $223,699)
Number of
Contracts
Description
Notional
Amount
Exercise
Price
Expiration
Date
Value
PURCHASED OPTIONS — 102.8%
Call Options Purchased — 99.6%
720
Invesco QQQ TrustSM, Series 1
$37,375,920
$4.93
10/17/25
36,955,411
(Cost $35,505,714)
 
 
Put Options Purchased — 3.2%
720
Invesco QQQ TrustSM, Series 1
37,375,920
494.46
10/17/25
1,194,135
(Cost $2,342,035)
 
 
Total Purchased Options
38,149,546
(Cost $37,847,749)
WRITTEN OPTIONS — (3.3)%
Call Options Written — (2.6)%
(720)
Invesco QQQ TrustSM, Series 1
(37,375,920
)
556.27
10/17/25
(947,174
)
(Premiums received $1,345,167)
 
 
Put Options Written — (0.7)%
(720)
Invesco QQQ TrustSM, Series 1
(37,375,920
)
395.57
10/17/25
(265,126
)
(Premiums received $602,129)
 
 
Total Written Options
(1,212,300
)
(Premiums received $1,947,296)
Net Other Assets and Liabilities — (0.1)%
(29,202
)
Net Assets — 100.0%
$37,131,743
(a)
Rate shown reflects yield as of May 31, 2025.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of May 31, 2025 is as follows (see Valuation Inputs in the Additional Information section):
ASSETS TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Money Market Funds
$223,699
$223,699
$
$
Purchased Options
38,149,546
38,149,546
Total
$38,373,245
$223,699
$38,149,546
$
LIABILITIES TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Written Options
$(1,212,300
)
$
$(1,212,300
)
$

FT Vest U.S. Equity Enhance & Moderate Buffer ETF - October (XOCT)
Portfolio of Investments
May 31, 2025 (Unaudited)
Shares
Description
Value
MONEY MARKET FUNDS — 0.6%
586,900
Dreyfus Government Cash Management Fund, Institutional Shares - 4.19% (a)
$586,900
(Cost $586,900)
Total Investments — 0.6%
586,900
(Cost $586,900)
Number of
Contracts
Description
Notional
Amount
Exercise
Price
Expiration
Date
Value
PURCHASED OPTIONS — 105.6%
Call Options Purchased — 102.1%
1,554
SPDR® S&P 500® ETF Trust
$91,591,206
$5.86
10/17/25
90,216,739
1,554
SPDR® S&P 500® ETF Trust
91,591,206
584.60
10/17/25
5,049,350
Total Call Options Purchased
95,266,089
(Cost $94,034,311)
Put Options Purchased — 3.5%
1,554
SPDR® S&P 500® ETF Trust
91,591,206
584.60
10/17/25
3,240,199
(Cost $4,779,084)
 
 
Total Purchased Options
98,506,288
(Cost $98,813,395)
WRITTEN OPTIONS — (6.1)%
Call Options Written — (5.2)%
(3,108)
SPDR® S&P 500® ETF Trust
(183,182,412
)
612.89
10/17/25
(4,860,974
)
(Premiums received $6,838,965)
 
 
Put Options Written — (0.9)%
(1,554)
SPDR® S&P 500® ETF Trust
(91,591,206
)
496.91
10/17/25
(889,416
)
(Premiums received $1,692,176)
 
 
Total Written Options
(5,750,390
)
(Premiums received $8,531,141)
Net Other Assets and Liabilities — (0.1)%
(64,507
)
Net Assets — 100.0%
$93,278,291
(a)
Rate shown reflects yield as of May 31, 2025.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of May 31, 2025 is as follows (see Valuation Inputs in the Additional Information section):
ASSETS TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Money Market Funds
$586,900
$586,900
$
$
Purchased Options
98,506,288
98,506,288
Total
$99,093,188
$586,900
$98,506,288
$

FT Vest U.S. Equity Enhance & Moderate Buffer ETF - October (XOCT)
Portfolio of Investments (Continued)
May 31, 2025 (Unaudited)
LIABILITIES TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Written Options
$(5,750,390
)
$
$(5,750,390
)
$

FT Vest Nasdaq-100® Moderate Buffer ETF - November (QMNV)
Portfolio of Investments
May 31, 2025 (Unaudited)
Shares
Description
Value
MONEY MARKET FUNDS — 0.7%
292,092
Dreyfus Government Cash Management Fund, Institutional Shares - 4.19% (a)
$292,092
(Cost $292,092)
Total Investments — 0.7%
292,092
(Cost $292,092)
Number of
Contracts
Description
Notional
Amount
Exercise
Price
Expiration
Date
Value
PURCHASED OPTIONS — 103.1%
Call Options Purchased — 99.3%
820
Invesco QQQ TrustSM, Series 1
$42,567,020
$4.96
11/21/25
42,101,121
(Cost $41,559,170)
 
 
Put Options Purchased — 3.8%
820
Invesco QQQ TrustSM, Series 1
42,567,020
496.56
11/21/25
1,624,141
(Cost $2,572,203)
 
 
Total Purchased Options
43,725,262
(Cost $44,131,373)
WRITTEN OPTIONS — (3.7)%
Call Options Written — (2.3)%
(820)
Invesco QQQ TrustSM, Series 1
(42,567,020
)
571.49
11/21/25
(978,555
)
(Premiums received $1,197,996)
 
 
Put Options Written — (1.4)%
(820)
Invesco QQQ TrustSM, Series 1
(42,567,020
)
422.07
11/21/25
(577,477
)
(Premiums received $851,997)
 
 
Total Written Options
(1,556,032
)
(Premiums received $2,049,993)
Net Other Assets and Liabilities — (0.1)%
(33,221
)
Net Assets — 100.0%
$42,428,101
(a)
Rate shown reflects yield as of May 31, 2025.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of May 31, 2025 is as follows (see Valuation Inputs in the Additional Information section):
ASSETS TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Money Market Funds
$292,092
$292,092
$
$
Purchased Options
43,725,262
43,725,262
Total
$44,017,354
$292,092
$43,725,262
$
LIABILITIES TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Written Options
$(1,556,032
)
$
$(1,556,032
)
$

FT Vest U.S. Equity Enhance & Moderate Buffer ETF - November (XNOV)
Portfolio of Investments
May 31, 2025 (Unaudited)
Shares
Description
Value
MONEY MARKET FUNDS — 0.7%
176,361
Dreyfus Government Cash Management Fund, Institutional Shares - 4.19% (a)
$176,361
(Cost $176,361)
Total Investments — 0.7%
176,361
(Cost $176,361)
Number of
Contracts
Description
Notional
Amount
Exercise
Price
Expiration
Date
Value
PURCHASED OPTIONS — 106.9%
Call Options Purchased — 103.0%
434
SPDR® S&P 500® ETF Trust
$25,579,526
$5.87
11/21/25
25,203,305
434
SPDR® S&P 500® ETF Trust
25,579,526
585.76
11/21/25
1,580,250
Total Call Options Purchased
26,783,555
(Cost $26,555,471)
Put Options Purchased — 3.9%
434
SPDR® S&P 500® ETF Trust
25,579,526
585.76
11/21/25
1,014,614
(Cost $1,491,306)
 
 
Total Purchased Options
27,798,169
(Cost $28,046,777)
WRITTEN OPTIONS — (7.5)%
Call Options Written — (6.3)%
(868)
SPDR® S&P 500® ETF Trust
(51,159,052
)
615.28
11/21/25
(1,626,962
)
(Premiums received $2,237,898)
 
 
Put Options Written — (1.2)%
(434)
SPDR® S&P 500® ETF Trust
(25,579,526
)
497.90
11/21/25
(314,437
)
(Premiums received $568,345)
 
 
Total Written Options
(1,941,399
)
(Premiums received $2,806,243)
Net Other Assets and Liabilities — (0.1)%
(17,713
)
Net Assets — 100.0%
$26,015,418
(a)
Rate shown reflects yield as of May 31, 2025.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of May 31, 2025 is as follows (see Valuation Inputs in the Additional Information section):
ASSETS TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Money Market Funds
$176,361
$176,361
$
$
Purchased Options
27,798,169
27,798,169
Total
$27,974,530
$176,361
$27,798,169
$

FT Vest U.S. Equity Enhance & Moderate Buffer ETF - November (XNOV)
Portfolio of Investments (Continued)
May 31, 2025 (Unaudited)
LIABILITIES TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Written Options
$(1,941,399
)
$
$(1,941,399
)
$

FT Vest International Equity Moderate Buffer ETF - December (YDEC)
Portfolio of Investments
May 31, 2025 (Unaudited)
Shares
Description
Value
MONEY MARKET FUNDS — 0.8%
665,248
Dreyfus Government Cash Management Fund, Institutional Shares - 4.19% (a)
$665,248
(Cost $665,248)
Total Investments — 0.8%
665,248
(Cost $665,248)
Number of
Contracts
Description
Notional
Amount
Exercise
Price
Expiration
Date
Value
PURCHASED OPTIONS — 105.1%
Call Options Purchased — 103.7%
10,031
iShares MSCI EAFE ETF
$89,085,311
$0.75
12/19/25
85,843,192
(Cost $73,852,937)
 
 
Put Options Purchased — 1.4%
10,031
iShares MSCI EAFE ETF
89,085,311
75.10
12/19/25
1,203,720
(Cost $3,981,773)
 
 
Total Purchased Options
87,046,912
(Cost $77,834,710)
WRITTEN OPTIONS — (5.8)%
Call Options Written — (5.1)%
(10,031)
iShares MSCI EAFE ETF
(89,085,311
)
87.73
12/19/25
(4,210,613
)
(Premiums received $1,032,924)
 
 
Put Options Written — (0.7)%
(10,031)
iShares MSCI EAFE ETF
(89,085,311
)
63.84
12/19/25
(626,436
)
(Premiums received $1,549,622)
 
 
Total Written Options
(4,837,049
)
(Premiums received $2,582,546)
Net Other Assets and Liabilities — (0.1)%
(58,724
)
Net Assets — 100.0%
$82,816,387
(a)
Rate shown reflects yield as of May 31, 2025.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of May 31, 2025 is as follows (see Valuation Inputs in the Additional Information section):
ASSETS TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Money Market Funds
$665,248
$665,248
$
$
Purchased Options
87,046,912
87,046,912
Total
$87,712,160
$665,248
$87,046,912
$
LIABILITIES TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Written Options
$(4,837,049
)
$
$(4,837,049
)
$

FT Vest Nasdaq-100® Buffer ETF - December (QDEC)
Portfolio of Investments
May 31, 2025 (Unaudited)
Shares
Description
Value
MONEY MARKET FUNDS — 0.8%
4,204,823
Dreyfus Government Cash Management Fund, Institutional Shares - 4.19% (a)
$4,204,823
(Cost $4,204,823)
Total Investments — 0.8%
4,204,823
(Cost $4,204,823)
Number of
Contracts
Description
Notional
Amount
Exercise
Price
Expiration
Date
Value
PURCHASED OPTIONS — 103.0%
Call Options Purchased — 97.5%
9,850
Invesco QQQ TrustSM, Series 1
$511,323,350
$5.18
12/19/25
505,403,500
(Cost $506,641,233)
 
 
Put Options Purchased — 5.5%
9,850
Invesco QQQ TrustSM, Series 1
511,323,350
518.65
12/19/25
28,299,050
(Cost $33,957,885)
 
 
Total Purchased Options
533,702,550
(Cost $540,599,118)
WRITTEN OPTIONS — (3.7)%
Call Options Written — (0.9)%
(9,850)
Invesco QQQ TrustSM, Series 1
(511,323,350
)
612.94
12/19/25
(4,925,000
)
(Premiums received $12,657,708)
 
 
Put Options Written — (2.8)%
(9,850)
Invesco QQQ TrustSM, Series 1
(511,323,350
)
466.78
12/19/25
(14,568,150
)
(Premiums received $18,346,560)
 
 
Total Written Options
(19,493,150
)
(Premiums received $31,004,268)
Net Other Assets and Liabilities — (0.1)%
(374,977
)
Net Assets — 100.0%
$518,039,246
(a)
Rate shown reflects yield as of May 31, 2025.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of May 31, 2025 is as follows (see Valuation Inputs in the Additional Information section):
ASSETS TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Money Market Funds
$4,204,823
$4,204,823
$
$
Purchased Options
533,702,550
533,702,550
Total
$537,907,373
$4,204,823
$533,702,550
$
LIABILITIES TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Written Options
$(19,493,150
)
$
$(19,493,150
)
$

FT Vest U.S. Equity Enhance & Moderate Buffer ETF - December (XDEC)
Portfolio of Investments
May 31, 2025 (Unaudited)
Shares
Description
Value
MONEY MARKET FUNDS — 0.9%
1,607,082
Dreyfus Government Cash Management Fund, Institutional Shares - 4.19% (a)
$1,607,082
(Cost $1,607,082)
Total Investments — 0.9%
1,607,082
(Cost $1,607,082)
Number of
Contracts
Description
Notional
Amount
Exercise
Price
Expiration
Date
Value
PURCHASED OPTIONS — 106.8%
Call Options Purchased — 102.2%
3,202
SPDR® S&P 500® ETF Trust
$188,722,678
$5.92
12/19/25
185,382,032
3,202
SPDR® S&P 500® ETF Trust
188,722,678
591.16
12/19/25
11,301,875
Total Call Options Purchased
196,683,907
(Cost $202,481,137)
Put Options Purchased — 4.6%
3,202
SPDR® S&P 500® ETF Trust
188,722,678
591.16
12/19/25
8,778,315
(Cost $9,397,159)
 
 
Total Purchased Options
205,462,222
(Cost $211,878,296)
WRITTEN OPTIONS — (7.6)%
Call Options Written — (6.1)%
(6,404)
SPDR® S&P 500® ETF Trust
(377,445,356
)
621.19
12/19/25
(11,644,522
)
(Premiums received $20,158,854)
 
 
Put Options Written — (1.5)%
(3,202)
SPDR® S&P 500® ETF Trust
(188,722,678
)
502.49
12/19/25
(2,917,278
)
(Premiums received $3,780,117)
 
 
Total Written Options
(14,561,800
)
(Premiums received $23,938,971)
Net Other Assets and Liabilities — (0.1)%
(128,863
)
Net Assets — 100.0%
$192,378,641
(a)
Rate shown reflects yield as of May 31, 2025.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of May 31, 2025 is as follows (see Valuation Inputs in the Additional Information section):
ASSETS TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Money Market Funds
$1,607,082
$1,607,082
$
$
Purchased Options
205,462,222
205,462,222
Total
$207,069,304
$1,607,082
$205,462,222
$

FT Vest U.S. Equity Enhance & Moderate Buffer ETF - December (XDEC)
Portfolio of Investments (Continued)
May 31, 2025 (Unaudited)
LIABILITIES TABLE
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Written Options
$(14,561,800
)
$
$(14,561,800
)
$

FT Vest Laddered International Moderate Buffer ETF (BUFY)
Portfolio of Investments
May 31, 2025 (Unaudited)
Shares
Description
Value
EXCHANGE-TRADED FUNDS — 100.0%
Capital Markets (a) — 100.0%
259,000
FT Vest International Equity
Moderate Buffer ETF -
March (b)
$6,513,850
273,150
FT Vest International Equity
Moderate Buffer ETF -
June (b)
6,649,673
274,700
FT Vest International Equity
Moderate Buffer ETF -
September (b)
6,584,532
253,125
FT Vest International Equity
Moderate Buffer ETF -
December (b)
6,262,312
Total Investments — 100.0%
26,010,367
(Cost $24,810,148)
Net Other Assets and
Liabilities — (0.0)%
(4,387
)
Net Assets — 100.0%
$26,005,980
(a)
Represents investments in affiliated funds.
(b)
Non-income producing security.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of May 31, 2025 is as follows (see Valuation Inputs in the Additional Information section):
 
Total
Value at
5/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Exchange-Traded
Funds*
$26,010,367
$26,010,367
$
$
*
See Portfolio of Investments for industry breakout.

Affiliated Transactions
Amounts relating to investments in affiliated funds at May 31, 2025, and for the fiscal year-to-date period (September 25, 2024 (commencement of investment operations) to May 31, 2025) are as follows:
Security Name
Shares at
5/31/2025
Value at
9/25/2024
Purchases
Sales
Change in
Unrealized
Appreciation
(Depreciation)
Realized
Gain
(Loss)
Value at
5/31/2025
Dividend
Income
FT Vest International Equity Moderate
Buffer ETF - March
259,000
$
$6,221,874
$
$291,976
$
$6,513,850
$
FT Vest International Equity Moderate
Buffer ETF - June
273,150
6,237,495
412,178
6,649,673
FT Vest International Equity Moderate
Buffer ETF - September
274,700
6,255,462
329,070
6,584,532
FT Vest International Equity Moderate
Buffer ETF - December
253,125
6,095,317
166,995
6,262,312
 
$
$24,810,148
$
$1,200,219
$
$26,010,367
$

First Trust Exchange-Traded Fund VIII
Additional Information
May 31, 2025 (Unaudited)
Valuation Inputs
The Funds are 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.