# EDGAR Filing Document

**Accession Number:** 0001424212
**File Stem:** 0001145549-23-017796
**Filing Date:** 2023-3
**Character Count:** 53721
**Document Hash:** 40e2b84acc5034fad0f84058dcea27f6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-017796.hdr.sgml**: 20230323

**ACCESSION NUMBER**: 0001145549-23-017796

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230323

**DATE AS OF CHANGE**: 20230323

**PERIOD START**: 20231031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIRST TRUST EXCHANGE-TRADED FUND III
- **CENTRAL INDEX KEY:** 0001424212
- **IRS NUMBER:** 000000000

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22245
- **FILM NUMBER:** 23755631

**BUSINESS ADDRESS:**
- **STREET 1:** 120 EAST LIBERTY DRIVE
- **STREET 2:** SUITE 400
- **CITY:** WHEATON
- **STATE:** IL
- **ZIP:** 60187
- **BUSINESS PHONE:** 630-765-8000

**MAIL ADDRESS:**
- **STREET 1:** 120 EAST LIBERTY DRIVE
- **STREET 2:** SUITE 400
- **CITY:** WHEATON
- **STATE:** IL
- **ZIP:** 60187

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** First Trust Exchange-Traded Fund III
- **DATE OF NAME CHANGE:** 20160419

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** First Trust Exchange Traded Fund III
- **DATE OF NAME CHANGE:** 20080116

## Series and Classes Contracts Data

### First Trust Emerging Markets Local Currency Bond ETF (Series ID: S000046751)

| Class ID   | Class Name                                           | Ticker Symbol   |
|:---|:---|:---|
| C000146034 | First Trust Emerging Markets Local Currency Bond ETF | FEMB            |

## Nport-Ex

#### First Trust Emerging Markets Local Currency Bond ETF (FEMB)<br>

#### Portfolio of Investments

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value<br> (Local<br> Currency)** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value<br> (US Dollars)** |
| **FOREIGN SOVEREIGN BONDS AND NOTES – 88.2%** | **FOREIGN SOVEREIGN BONDS AND NOTES – 88.2%** | **FOREIGN SOVEREIGN BONDS AND NOTES – 88.2%** | **FOREIGN SOVEREIGN BONDS AND NOTES – 88.2%** | **FOREIGN SOVEREIGN BONDS AND NOTES – 88.2%** |
|  | **Brazil – 11.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12150000 | Brazil Notas do Tesouro Nacional, Series F (BRL)<br>| 10.00% | 01/01/25 | &nbsp;&nbsp;&nbsp;&nbsp;$2286330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34450000 | Brazil Notas do Tesouro Nacional, Series F (BRL)<br>| 10.00% | 01/01/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6237374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24200000 | Brazil Notas do Tesouro Nacional, Series F (BRL)<br>| 10.00% | 01/01/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4215442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21000000 | Brazil Notas do Tesouro Nacional, Series F (BRL)<br>| 10.00% | 01/01/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3550147 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16289293 |
|  | **Chile – 0.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;590000000 | Bonos de la Tesoreria de la Republica en Pesos (CLP)<br>| &nbsp;&nbsp;&nbsp;4.50% | 03/01/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;710233 |
| &nbsp;&nbsp;&nbsp;&nbsp;270000000 | Bonos de la Tesoreria de la Republica en Pesos (CLP) (a) (b)<br>| &nbsp;&nbsp;&nbsp;4.70% | 09/01/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;322913 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1033146 |
|  | **Colombia – 7.2%** |  |  |  |
| &nbsp;&nbsp;6062000000 | Colombian TES (COP)<br>| &nbsp;&nbsp;&nbsp;7.50% | 08/26/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1137899 |
| &nbsp;&nbsp;9770000000 | Colombian TES (COP)<br>| &nbsp;&nbsp;&nbsp;6.00% | 04/28/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1624462 |
| 37705000000 | Colombian TES (COP)<br>| &nbsp;&nbsp;&nbsp;7.75% | 09/18/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6373555 |
| &nbsp;&nbsp;8500000000 | Colombian TES (COP)<br>| &nbsp;&nbsp;&nbsp;7.00% | 06/30/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1305805 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10441721 |
|  | **Czech Republic – 2.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28050000 | Czech Republic Government Bond (CZK) (b)<br>| &nbsp;&nbsp;&nbsp;2.40% | 09/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1189907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;71920000 | Czech Republic Government Bond (CZK)<br>| &nbsp;&nbsp;&nbsp;2.00% | 10/13/33 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2579899 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3769806 |
|  | **Hungary – 4.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;603000000 | Hungary Government Bond (HUF)<br>| &nbsp;&nbsp;&nbsp;5.50% | 06/24/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1483633 |
| &nbsp;&nbsp;1565000000 | Hungary Government Bond (HUF)<br>| &nbsp;&nbsp;&nbsp;6.75% | 10/22/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3993706 |
| &nbsp;&nbsp;&nbsp;&nbsp;376500000 | Hungary Government Bond (HUF)<br>| &nbsp;&nbsp;&nbsp;3.00% | 08/21/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;764052 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6241391 |
|  | **India – 0.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000000 | India Government Bond (INR)<br>| &nbsp;&nbsp;&nbsp;6.10% | 07/12/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450029 |
|  | **Indonesia – 12.6%** |  |  |  |
| 86660000000 | Indonesia Treasury Bond (IDR)<br>| &nbsp;&nbsp;&nbsp;8.38% | 09/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6179511 |
| 69702000000 | Indonesia Treasury Bond (IDR)<br>| &nbsp;&nbsp;&nbsp;9.00% | 03/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5232812 |
| 55440000000 | Indonesia Treasury Bond (IDR)<br>| &nbsp;&nbsp;&nbsp;7.00% | 09/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3774210 |
| 31570000000 | Indonesia Treasury Bond (IDR)<br>| &nbsp;&nbsp;&nbsp;8.38% | 03/15/34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2354166 |
| &nbsp;&nbsp;8786000000 | Indonesia Treasury Bond (IDR)<br>| &nbsp;&nbsp;&nbsp;8.25% | 05/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;654208 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18194907 |
|  | **Israel – 0.5%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2400000 | Israel Government Bond - Fixed (ILS)<br>| &nbsp;&nbsp;&nbsp;6.25% | 10/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;761984 |
|  | **Malaysia – 8.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19750000 | Malaysia Government Bond (MYR)<br>| &nbsp;&nbsp;&nbsp;3.90% | 11/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4693260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19705000 | Malaysia Government Bond (MYR)<br>| &nbsp;&nbsp;&nbsp;3.89% | 08/15/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4656452 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12275000 | Malaysia Government Bond (MYR)<br>| &nbsp;&nbsp;&nbsp;2.63% | 04/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2637814 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11987526 |
|  | **Mexico – 4.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85960000 | Mexican Bonos (MXN)<br>| &nbsp;&nbsp;&nbsp;7.50% | 06/03/27 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4344129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7590000 | Mexican Bonos (MXN)<br>| &nbsp;&nbsp;&nbsp;8.50% | 05/31/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;399853 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38840000 | Mexican Bonos (MXN)<br>| &nbsp;&nbsp;&nbsp;7.75% | 05/29/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1951539 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6695521 |

---

------

#### First Trust Emerging Markets Local Currency Bond ETF (FEMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value<br> (Local<br> Currency)** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value<br> (US Dollars)** |
| **FOREIGN SOVEREIGN BONDS AND NOTES (Continued)** | **FOREIGN SOVEREIGN BONDS AND NOTES (Continued)** | **FOREIGN SOVEREIGN BONDS AND NOTES (Continued)** | **FOREIGN SOVEREIGN BONDS AND NOTES (Continued)** | **FOREIGN SOVEREIGN BONDS AND NOTES (Continued)** |
|  | **Peru – 4.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;1195000 | Peru Government Bond (PEN)<br>| &nbsp;&nbsp;&nbsp;8.20% | 08/12/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$320897 |
| &nbsp;&nbsp;17460000 | Peru Government Bond (PEN)<br>| &nbsp;&nbsp;&nbsp;6.95% | 08/12/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4262075 |
| &nbsp;&nbsp;&nbsp;5590000 | Peru Government Bond (PEN)<br>| &nbsp;&nbsp;&nbsp;6.90% | 08/12/37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1293320 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5876292 |
|  | **Philippines – 2.6%** |  |  |  |
| 226000000 | Philippine Government International Bond (PHP)<br>| &nbsp;&nbsp;&nbsp;6.25% | 01/14/36 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3788219 |
|  | **Poland – 4.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;545000 | Republic of Poland Government Bond (PLN)<br>| &nbsp;&nbsp;&nbsp;4.00% | 10/25/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124268 |
| &nbsp;&nbsp;&nbsp;1350000 | Republic of Poland Government Bond (PLN)<br>| &nbsp;&nbsp;&nbsp;2.50% | 07/25/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277828 |
| &nbsp;&nbsp;26485000 | Republic of Poland Government Bond (PLN)<br>| &nbsp;&nbsp;&nbsp;2.75% | 04/25/28 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5259220 |
| &nbsp;&nbsp;&nbsp;7840000 | Republic of Poland Government Bond (PLN)<br>| &nbsp;&nbsp;&nbsp;1.75% | 04/25/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1280876 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6942192 |
|  | **Romania – 4.4%** |  |  |  |
| &nbsp;&nbsp;&nbsp;3445000 | Romania Government Bond (RON)<br>| &nbsp;&nbsp;&nbsp;4.50% | 06/17/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;740132 |
| &nbsp;&nbsp;12680000 | Romania Government Bond (RON)<br>| &nbsp;&nbsp;&nbsp;4.75% | 02/24/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2684205 |
| &nbsp;&nbsp;14025000 | Romania Government Bond (RON)<br>| &nbsp;&nbsp;&nbsp;6.70% | 02/25/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2973408 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6397745 |
|  | **South Africa – 9.5%** |  |  |  |
| 113040000 | Republic of South Africa Government Bond (ZAR)<br>| 10.50% | 12/21/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7016048 |
| 102880000 | Republic of South Africa Government Bond (ZAR)<br>| &nbsp;&nbsp;&nbsp;8.25% | 03/31/32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5201353 |
| &nbsp;&nbsp;30270000 | Republic of South Africa Government Bond (ZAR)<br>| &nbsp;&nbsp;&nbsp;8.88% | 02/28/35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1503497 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13720898 |
|  | **Supranationals – 4.5%** |  |  |  |
| 100000000 | African Development Bank (ZAR)<br>| &nbsp;&nbsp;&nbsp;&nbsp;(c) | 04/05/46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;821264 |
| 277020000 | Asian Development Bank (INR)<br>| &nbsp;&nbsp;&nbsp;6.20% | 10/06/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3314958 |
| 116000000 | International Finance Corp. (INR)<br>| &nbsp;&nbsp;&nbsp;6.30% | 11/25/24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1396191 |
| &nbsp;&nbsp;62500000 | International Finance Corp. (MXN)<br>| &nbsp;&nbsp;&nbsp;&nbsp;(c) | 02/22/38 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;909927 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6442340 |
|  | **Thailand – 4.9%** |  |  |  |
| &nbsp;&nbsp;&nbsp;6100000 | Thailand Government Bond (THB)<br>| &nbsp;&nbsp;&nbsp;3.63% | 06/16/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186286 |
| &nbsp;&nbsp;34100000 | Thailand Government Bond (THB)<br>| &nbsp;&nbsp;&nbsp;2.13% | 12/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1039363 |
| &nbsp;&nbsp;53400000 | Thailand Government Bond (THB)<br>| &nbsp;&nbsp;&nbsp;1.60% | 12/17/29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1552129 |
| 129760000 | Thailand Government Bond (THB)<br>| &nbsp;&nbsp;&nbsp;3.65% | 06/20/31 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4295720 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7073498 |
|  | **Turkey – 0.9%** |  |  |  |
| &nbsp;&nbsp;23800000 | Turkey Government Bond (TRY)<br>| 10.60% | 02/11/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1281784 |

---

---

| | |
|:---|:---|
| **Total Investments – 88.2%<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;127388292 |
| (Cost $145,815,982) |  |
| **Net Other Assets and Liabilities – 11.8%<br>**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17108508 |
| **Net Assets – 100.0%<br>**  | &nbsp;&nbsp;$144496800 |

---

------

#### First Trust Emerging Markets Local Currency Bond ETF (FEMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** | **Forward Foreign Currency Contracts** |
| **Settlement<br> Date** | **Counterparty** | **Amount<br> Purchased** | **Amount<br> Purchased** | **Amount<br> Sold** | **Amount<br> Sold** | **Purchase<br> Value as of<br> 1/31/2023** | **Sale<br> Value as of<br> 1/31/2023** | **Unrealized<br> Appreciation/<br> (Depreciation)** |
| 02/22/23 | BNS | &nbsp;&nbsp;BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9300000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1805244 | $1825624 | $1805244 | $20380 |
| 02/22/23 | BNS | &nbsp;&nbsp;&nbsp;CLP | &nbsp;&nbsp;&nbsp;&nbsp;550000000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;668076 | &nbsp;&nbsp;&nbsp; 688876 | &nbsp;&nbsp;&nbsp; 668076 | &nbsp;&nbsp;&nbsp; 20800 |
| 02/22/23 | BBH | &nbsp;&nbsp;CNH | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4462380 | &nbsp;&nbsp;&nbsp; 4446342 | &nbsp;&nbsp;&nbsp; 4462380 | &nbsp;&nbsp;&nbsp; (16038) |
| 02/22/23 | BNS | &nbsp;&nbsp;COP | 20100000000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4265886 | &nbsp;&nbsp;&nbsp; 4288527 | &nbsp;&nbsp;&nbsp; 4265886 | &nbsp;&nbsp;&nbsp; 22641 |
| 02/22/23 | BBH | &nbsp;&nbsp;CZK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30000000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1350809 | &nbsp;&nbsp;&nbsp; 1370084 | &nbsp;&nbsp;&nbsp; 1350809 | &nbsp;&nbsp;&nbsp; 19275 |
| 02/22/23 | BBH | &nbsp;&nbsp;HUF | &nbsp;&nbsp;&nbsp;&nbsp;706000000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1912571 | &nbsp;&nbsp;&nbsp; 1949357 | &nbsp;&nbsp;&nbsp; 1912571 | &nbsp;&nbsp;&nbsp; 36786 |
| 02/22/23 | BNS | &nbsp;&nbsp;&nbsp;IDR | 33250000000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2226764 | &nbsp;&nbsp;&nbsp; 2217278 | &nbsp;&nbsp;&nbsp; 2226764 | &nbsp;&nbsp;&nbsp; (9486) |
| 02/22/23 | BNS | &nbsp;&nbsp;&nbsp;INR | &nbsp;&nbsp;&nbsp;&nbsp;119000000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1457797 | &nbsp;&nbsp;&nbsp; 1451068 | &nbsp;&nbsp;&nbsp; 1457797 | &nbsp;&nbsp;&nbsp; (6729) |
| 02/22/23 | BNS | &nbsp;&nbsp;KRW | &nbsp;&nbsp;&nbsp;4000000000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3241754 | &nbsp;&nbsp;&nbsp; 3249512 | &nbsp;&nbsp;&nbsp; 3241754 | &nbsp;&nbsp;&nbsp; 7758 |
| 02/22/23 | BBH | MXN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84750000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4483935 | &nbsp;&nbsp;&nbsp; 4485706 | &nbsp;&nbsp;&nbsp; 4483935 | &nbsp;&nbsp;&nbsp; 1771 |
| 02/22/23 | BNS | &nbsp;&nbsp;&nbsp;PEN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2800000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;730689 | &nbsp;&nbsp;&nbsp; 726974 | &nbsp;&nbsp;&nbsp; 730689 | &nbsp;&nbsp;&nbsp; (3715) |
| 02/22/23 | BNS | &nbsp;&nbsp;&nbsp;PHP | &nbsp;&nbsp;&nbsp;&nbsp;203450000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3717162 | &nbsp;&nbsp;&nbsp; 3723482 | &nbsp;&nbsp;&nbsp; 3717162 | &nbsp;&nbsp;&nbsp; 6320 |
| 02/22/23 | BBH | &nbsp;&nbsp;&nbsp;PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8300000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1906978 | &nbsp;&nbsp;&nbsp; 1913474 | &nbsp;&nbsp;&nbsp; 1906978 | &nbsp;&nbsp;&nbsp; 6496 |
| 02/22/23 | BBH | &nbsp;&nbsp;THB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31700000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;963233 | &nbsp;&nbsp;&nbsp; 962225 | &nbsp;&nbsp;&nbsp; 963233 | &nbsp;&nbsp;&nbsp; (1008) |
| 02/22/23 | BBH | &nbsp;&nbsp;ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41000000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2411129 | &nbsp;&nbsp;&nbsp; 2352392 | &nbsp;&nbsp;&nbsp; 2411129 | &nbsp;&nbsp;&nbsp; (58737) |
| 02/22/23 | BNS | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2197040 | &nbsp;&nbsp;IDR | 33250000000 | &nbsp;&nbsp;&nbsp; 2197040 | &nbsp;&nbsp;&nbsp; 2217279 | &nbsp;&nbsp;&nbsp; (20239) |
| 02/22/23 | BBH | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2149712 | &nbsp;&nbsp;&nbsp;ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7320000 | &nbsp;&nbsp;&nbsp; 2149712 | &nbsp;&nbsp;&nbsp; 2121781 | &nbsp;&nbsp;&nbsp; 27931 |
| 02/22/23 | BBH | &nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;965433 | THB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31700000 | &nbsp;&nbsp;&nbsp; 965433 | &nbsp;&nbsp;&nbsp; 962225 | &nbsp;&nbsp;&nbsp; 3208 |
| Net Unrealized Appreciation / (Depreciation) | Net Unrealized Appreciation / (Depreciation) | Net Unrealized Appreciation / (Depreciation) | Net Unrealized Appreciation / (Depreciation) | Net Unrealized Appreciation / (Depreciation) | Net Unrealized Appreciation / (Depreciation) | Net Unrealized Appreciation / (Depreciation) | Net Unrealized Appreciation / (Depreciation) | &nbsp;&nbsp;&nbsp;$57414 |

---

Counterparty Abbreviations <br> BBH Brown Brothers Harriman and Co. <br> BNS Bank of Nova Scotia

(a) 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, 2023, securities noted as such amounted to $322,913 or 0.2% of net assets.

(b) This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the 1933 Act.

(c) Zero coupon bond.

------

#### First Trust Emerging Markets Local Currency Bond ETF (FEMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (Unaudited)

---

| | |
|:---|:---|
| **Credit Quality †** | &nbsp;&nbsp;**% of Total<br> Investments<br> (including cash)** |
| AAA | &nbsp;&nbsp;&nbsp;&nbsp;4.5% |
| AA | &nbsp;&nbsp;&nbsp;&nbsp;2.6 |
| AA- | &nbsp;&nbsp;&nbsp;&nbsp;0.5 |
| A+ | &nbsp;&nbsp;&nbsp;&nbsp;0.7 |
| A | &nbsp;&nbsp;&nbsp;&nbsp;13.1 |
| A- | &nbsp;&nbsp;&nbsp;&nbsp;4.9 |
| BBB+ | &nbsp;&nbsp;&nbsp;&nbsp;11.4 |
| BBB | &nbsp;&nbsp;&nbsp;&nbsp;24.2 |
| BBB- | &nbsp;&nbsp;&nbsp;&nbsp;4.8 |
| BB | &nbsp;&nbsp;&nbsp;&nbsp;20.8 |
| B | &nbsp;&nbsp;&nbsp;&nbsp;0.9 |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;11.6 |
| &nbsp;&nbsp;&nbsp;Total | &nbsp;&nbsp;100.0% |

---

† The credit quality and ratings information presented above reflect the ratings assigned by one or more nationally recognized statistical rating organizations
(NRSROs), including S&P Global Ratings, Moody's Investors Service, Inc., Fitch Ratings or a comparably rated NRSRO. For situations in which a security is rated by more than one NRSRO and the ratings are not
equivalent, the highest ratings are used. Sub-investment grade ratings are those rated BB+/Ba1 or lower. Investment grade ratings are those rated BBB-/Baa3 or higher. The credit ratings shown relate to the
creditworthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. Credit ratings are subject to change.

---

| | |
|:---|:---|
| **Currency Exposure<br> Diversification** | **% of Total<br> Investments<br> (including cash)††** |
| IDR | &nbsp;&nbsp;&nbsp;12.6% |
| BRL | &nbsp;&nbsp;&nbsp;12.6 |
| ZAR | &nbsp;&nbsp;&nbsp;11.7 |
| COP | &nbsp;&nbsp;&nbsp;10.2 |
| MXN | &nbsp;&nbsp;&nbsp;&nbsp;8.4 |
| MYR | &nbsp;&nbsp;&nbsp;&nbsp;8.3 |
| PLN | &nbsp;&nbsp;&nbsp;&nbsp;6.1 |
| HUF | &nbsp;&nbsp;&nbsp;&nbsp;5.7 |
| PHP | &nbsp;&nbsp;&nbsp;&nbsp;5.2 |
| THB | &nbsp;&nbsp;&nbsp;&nbsp;4.9 |
| INR | &nbsp;&nbsp;&nbsp;&nbsp;4.6 |
| PEN | &nbsp;&nbsp;&nbsp;&nbsp;4.6 |
| RON | &nbsp;&nbsp;&nbsp;&nbsp;4.4 |
| CZK | &nbsp;&nbsp;&nbsp;&nbsp;3.6 |
| CNH | &nbsp;&nbsp;&nbsp;&nbsp;3.1 |
| KRW | &nbsp;&nbsp;&nbsp;&nbsp;2.3 |
| CLP | &nbsp;&nbsp;&nbsp;&nbsp;1.2 |
| TRY | &nbsp;&nbsp;&nbsp;&nbsp;0.9 |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp;0.0\* |
| ILS | &nbsp;&nbsp;&nbsp;(0.9) |
| USD | &nbsp;&nbsp;&nbsp;(9.5) |
| &nbsp;&nbsp;&nbsp;Total | 100.0% |

---

---

| | |
|:---|:---|
| †† | The weightings include the impact of currency forwards. |
| \* | Amount is less than 0.1%. |

---

---

| | |
|:---|:---|
| Currency Abbreviations | Currency Abbreviations |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BRL | &nbsp;&nbsp;Brazilian Real |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CLP | &nbsp;&nbsp;Chilean Peso |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CNH | &nbsp;&nbsp;Chinese Yuan |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;COP | &nbsp;&nbsp;Colombian Peso |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CZK | &nbsp;&nbsp;Czech Republic Koruna |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EUR | &nbsp;&nbsp;Euro |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HUF | &nbsp;&nbsp;Hungarian Forint |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IDR | &nbsp;&nbsp;Indonesian Rupiah |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ILS | &nbsp;&nbsp;Israeli Shekel |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;INR | &nbsp;&nbsp;Indian Rupee |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KRW | &nbsp;&nbsp;South Korean Won |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MXN | &nbsp;&nbsp;Mexican Peso |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MYR | &nbsp;&nbsp;Malaysian Ringgit |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PEN | &nbsp;&nbsp;Peruvian Nuevo Sol |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PHP | &nbsp;&nbsp;Philippine Peso |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PLN | &nbsp;&nbsp;Polish Zloty |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RON | &nbsp;&nbsp;Romanian New Leu |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THB | &nbsp;&nbsp;Thai Baht |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TRY | &nbsp;&nbsp;Turkish Lira |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;United States Dollar |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ZAR | &nbsp;&nbsp;South African Rand |

---

------

#### First Trust Emerging Markets Local Currency Bond ETF (FEMB)<br>

#### Portfolio of Investments (Continued)

#### January 31, 2023 (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, 2023 is as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** |
|  | **Total<br> Value at<br> 1/31/2023** | &nbsp;&nbsp;**Level 1<br> Quoted<br> Prices** | **Level 2<br> Significant<br> Observable<br> Inputs** | **Level 3<br> Significant<br> Unobservable<br> Inputs** |
| Foreign Sovereign Bonds and Notes\*<br>| $127388292 | &nbsp;&nbsp;$— | $127388292 | $— |
| Forward Foreign Currency Contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 173366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 173366 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Total<br>| $127561658 | &nbsp;&nbsp;$— | $127561658 | $— |
| **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** |
|  | **Total<br> Value at<br> 1/31/2023** | &nbsp;&nbsp;**Level 1<br> Quoted<br> Prices** | **Level 2<br> Significant<br> Observable<br> Inputs** | **Level 3<br> Significant<br> Unobservable<br> Inputs** |
| Forward Foreign Currency Contracts<br>| &nbsp;&nbsp;&nbsp;&nbsp;$(115952) | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$(115952) | $— |

---

\* See Portfolio of Investments for country breakout.

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** First Trust Exchange-Traded Fund III

- **b. Investment Company Act file number:** 811-22245

- **c. CIK number of Registrant:** 0001424212

- **d. LEI of Registrant:** 5493003Z20QMESC6XS29

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 120 East Liberty Drive, Suite 400

  - **City:** Wheaton

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60187

  - **Telephone number:** 630-765-8000

**Item A.2. Information about the Series.**

- **a. Name of Series:** First Trust Emerging Markets Local Currency Bond ETF

- **b. EDGAR series identifier (if any):** S000046751

- **c. LEI of Series:** 549300DP1S8SJV0BSG28

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2023-10-31

- **b. Date as of which information is reported:** 2023-01-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $171307262.94

**Total Liabilities:** $26803895.38

**Net Assets:** $144503367.56

**Cash Not Reported:** $18563024.88

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.000000000000 | **1-Year:** 452.839458176718 | **5-Year:** 500.370437793434 | **10-Year:** 1899.696633745209 | **30-Year:** 251.874058580003

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.000000000000 | **1-Year:** 0.000000000000 | **5-Year:** 0.000000000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000146034 | 6.96%                | 1.78%                | 4.68%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-677357.63              | $8265915.23                                |
| Month 2  | $-896181.70              | $2070447.63                                |
| Month 3  | $-428127.22              | $4647103.48                                |

**Designated Index Information**

- **Index Name:** The Fund's Designated Reference Portfolio is the Fund's Securities Portfolio.

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                                     | Title                              | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |     Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Philippines (Republic Of)                | REPUBLIC O 6.25% 01/14/36/PHP/     | CUSIP: 718286BM8<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |   226000000 | PA      | $3788218.85   | 2.62%             | 2036-01-14      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Peru (Republic of)                       | BONOS DE T 6.95% 08/12/31/PEN/     | CUSIP: P87324BH4<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |    17460000 | PA      | $4262074.68   | 2.95%             | 2031-08-12      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Poland (Republic of)                     | POLAND GOVERN 4% 10/25/23/PLN/     | CUSIP: X8T024HN8<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |      545000 | PA      | $124267.85    | 0.09%             | 2023-10-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Romania (Republic Of)                    | ROMANIA GOV 4.5% 06/17/24/RON/     | CUSIP: X5S007EQ6<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     3445000 | PA      | $740131.51    | 0.51%             | 2024-06-17      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Romania (Republic Of)                    | ROMANIA GOV 6.7% 02/25/32/RON/     | CUSIP: X5S007JK4<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    14025000 | PA      | $2973407.75   | 2.06%             | 2032-02-25      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| Poland (Republic of)                     | POLAND GOV 1.75% 04/25/32/PLN/     | CUSIP: X8T0245B7<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |     7840000 | PA      | $1280875.41   | 0.89%             | 2032-04-25      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Romania (Republic Of)                    | ROMANIA GO 4.75% 02/24/25/RON/     | CUSIP: X73987KU6<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    12680000 | PA      | $2684205.43   | 1.86%             | 2025-02-24      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Poland (Republic of)                     | POLAND GOVE 2.5% 07/25/26/PLN/     | CUSIP: X8T024QG3<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |     1350000 | PA      | $277828.17    | 0.19%             | 2026-07-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| South Africa (Republic of)               | REPUBLIC O 10.5% 12/21/26/ZAR/     | CUSIP: S69124FF7<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |   113040000 | PA      | $7016048.48   | 4.86%             | 2027-12-21      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| Thailand (Kingdom Of)                    | THAILAND  3.625% 06/16/23/THB/     | CUSIP: Y6065ALN7<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |     6100000 | PA      | $186286.11    | 0.13%             | 2023-06-16      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Thailand (Kingdom Of)                    | THAILAND G 3.65% 06/20/31/THB/     | CUSIP: Y6065ANG0<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |   129760000 | PA      | $4295719.70   | 2.97%             | 2031-06-20      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Mexico (United Mexican States)           | MEX BONOS  7.75% 05/29/31/MXN/     | CUSIP: P9767HEK1<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    38840000 | PA      | $1951539.58   | 1.35%             | 2031-05-29      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Colombia (Republic of)                   | TITULOS DE TE 6% 04/28/28/COP/     | CUSIP: P28714AP1<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |  9770000000 | PA      | $1624462.16   | 1.12%             | 2028-04-28      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Turkey (Republic of)                     | TURKEY GOV 10.6% 02/11/26/TRY/     | CUSIP: M8T85RLR5<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    23800000 | PA      | $1281784.23   | 0.89%             | 2026-02-11      | Fixed         | 10.60%                | No            |                  2 | On Loan: No      |
| International Finance Corporation        | INTL FINANCE ZCP 02/22/38/MXN/     | CUSIP: U4R843GQ9<br>LEI: QKL54NQY28TCDAI75F60 | Long             | DBT              | NUSS              | XX        |    62500000 | PA      | $909926.71    | 0.63%             | 2038-02-22      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Thailand (Kingdom Of)                    | THAILAND GO 1.6% 12/17/29/THB/     | CUSIP: Y6065BLK1<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |    53400000 | PA      | $1552129.38   | 1.07%             | 2029-12-17      | Fixed         | 1.60%                 | No            |                  2 | On Loan: No      |
| South Africa (Republic of)               | REPUBLIC O 8.25% 03/31/32/ZAR/     | CUSIP: S69124UU7<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |   102880000 | PA      | $5201352.64   | 3.60%             | 2032-03-31      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Asian Development Bank                   | ASIAN DEVEL 6.2% 10/06/26/INR/     | CUSIP: Y000A9HC9<br>LEI: 549300X0MVH42CY8Q105 | Long             | DBT              | NUSS              | XX        |   277020000 | PA      | $3314958.52   | 2.29%             | 2026-10-06      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| Mexico (United Mexican States)           | MEX BONOS D 7.5% 06/03/27/MXN/     | CUSIP: P4R086AF1<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    85960000 | PA      | $4344128.66   | 3.01%             | 2027-06-03      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Israel (State Of)                        | ISRAEL FIX 6.25% 10/30/26/ILS/     | CUSIP: M8489CJQ6<br>LEI: 213800T8ZHTFZIBYPE21 | Long             | DBT              | NUSS              | IL        |     2400000 | PA      | $761983.61    | 0.53%             | 2026-10-30      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Hungary (Republic Of)                    | HUNGARY GO 6.75% 10/22/28/HUF/     | CUSIP: X9379QRH5<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |  1565000000 | PA      | $3993705.94   | 2.76%             | 2028-10-22      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Malaysia (Government Of)                 | MALAYSIA GO 3.9% 11/30/26/MYR/     | CUSIP: Y55745WS1<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |    19750000 | PA      | $4693260.13   | 3.25%             | 2026-11-30      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Malaysia (Government Of)                 | MALAYSIA  3.885% 08/15/29/MYR/     | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |    19705000 | PA      | $4656452.55   | 3.22%             | 2029-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Indonesia (Republic of)                  | INDONESIA GOV 9% 03/15/29/IDR/     | CUSIP: Y39814JN2<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 69702000000 | PA      | $5232811.39   | 3.62%             | 2029-03-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Secretaria Tesouro Nacional              | NOTA DO TESO 10% 01/01/29/BRL/     | CUSIP: P8T60MZC0<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    24200000 | PA      | $4215442.35   | 2.92%             | 2029-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Secretaria Tesouro Nacional              | NOTA DO TESO 10% 01/01/25/BRL/     | CUSIP: P8T60MDK6<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    12150000 | PA      | $2286330.15   | 1.58%             | 2025-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Hungary (Republic Of)                    | HUNGARY GOVER 3% 08/21/30/HUF/     | CUSIP: X51627CE9<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |   376500000 | PA      | $764052.31    | 0.53%             | 2030-08-21      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Hungary (Republic Of)                    | HUNGARY GOV 5.5% 06/24/25/HUF/     | CUSIP: X0R83EJZ8<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |   603000000 | PA      | $1483632.46   | 1.03%             | 2025-06-24      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Secretaria Tesouro Nacional              | NOTA DO TESO 10% 01/01/31/BRL/     | CUSIP: P8T60NEH0<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    12000000 | PA      | $2028655.23   | 1.40%             | 2031-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Czech (Republic of)                      | CZECH REPUB 2.4% 09/17/25/CZK/     | CUSIP: X73311KC9<br>LEI: 3157007EFDLQABN47912 | Long             | DBT              | NUSS              | CZ        |    28050000 | PA      | $1189907.04   | 0.82%             | 2025-09-17      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| India (Republic of)                      | INDIA GOVER 6.1% 07/12/31/INR/     | CUSIP: Y2R35KCA0<br>LEI: N/A                  | Long             | DBT              | NUSS              | IN        |    40000000 | PA      | $450028.77    | 0.31%             | 2031-07-12      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| Ministerio de Hacienda y Credito Publico | TITULOS DE 7.75% 09/18/30/COP/     | CUSIP: P6S32JH78<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        | 37705000000 | PA      | $6373555.24   | 4.41%             | 2030-09-18      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Secretaria Tesouro Nacional              | NOTA DO TESO 10% 01/01/27/BRL/     | CUSIP: P8T60MXG3<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    34450000 | PA      | $6237373.62   | 4.32%             | 2027-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Colombia (Republic of)                   | TITULOS DE  7.5% 08/26/26/COP/     | CUSIP: P3107FAR6<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |  6062000000 | PA      | $1137898.38   | 0.79%             | 2026-08-26      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Chile (Republic of)                      | BONOS TESOR 4.7% 09/01/30/CLP/     | CUSIP: P9T38EAW8<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |   270000000 | PA      | $322912.80    | 0.22%             | 2030-09-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Chile (Republic of)                      | BONOS TESOR 4.5% 03/01/26/CLP/     | CUSIP: P9T38EAM0<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |   590000000 | PA      | $710233.78    | 0.49%             | 2026-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Peru (Republic of)                       | PERU BON SOB 6.9% 8/12/37 /PEN     | CUSIP: P87324BF8<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     5590000 | PA      | $1293320.56   | 0.90%             | 2037-08-12      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| Peru (Republic of)                       | BONOS DE TE 8.2% 08/12/26/PEN/     | CUSIP: P87324BD3<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     1195000 | PA      | $320897.37    | 0.22%             | 2026-08-12      | Fixed         | 8.20%                 | No            |                  2 | On Loan: No      |
| Mexico (United Mexican States)           | MEX BONOS D 8.5% 05/31/29/MXN/     | CUSIP: P9767G6N6<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     7590000 | PA      | $399852.99    | 0.28%             | 2029-05-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Ministerio de Hacienda y Credito Publico | TITULOS DE TE 7% 06/30/32/COP/     | CUSIP: P6S32JQ52<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |  8500000000 | PA      | $1305805.26   | 0.90%             | 2032-06-30      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Poland (Republic of)                     | POLAND GOV 2.75% 04/25/28/PLN/     | CUSIP: X8T024JZ9<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |    26485000 | PA      | $5259220.19   | 3.64%             | 2028-04-25      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Czech (Republic of)                      | CZECH REPUBLI 2% 10/13/33/CZK/     | CUSIP: 000000000<br>LEI: 3157007EFDLQABN47912 | Long             | DBT              | NUSS              | CZ        |    51920000 | PA      | $1862463.04   | 1.29%             | 2033-10-13      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| African Development Bank                 | AFRICAN DEVE ZCP 04/05/46/ZAR/     | CUSIP: V00001CU5<br>LEI: 549300LNCLMO3ITVCU07 | Long             | DBT              | NUSS              | XX        |   100000000 | PA      | $821264.37    | 0.57%             | 2046-04-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Malaysia (Government Of)                 | MALAYSIA  2.632% 04/15/31/MYR/     | CUSIP: 000000000<br>LEI: 254900GSIL471JOBYY43 | Long             | DBT              | NUSS              | MY        |    12275000 | PA      | $2637813.81   | 1.83%             | 2031-04-15      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| International Finance Corporation        | INTL FINANC 6.3% 11/25/24/INR/     | CUSIP: 45950VEM4<br>LEI: QKL54NQY28TCDAI75F60 | Long             | DBT              | NUSS              | XX        |   116000000 | PA      | $1396190.96   | 0.97%             | 2024-11-25      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| South Africa (Republic of)               | REPUBLIC  8.875% 02/28/35/ZAR/     | CUSIP: S69124WF8<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    30270000 | PA      | $1503496.98   | 1.04%             | 2035-02-28      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| Thailand (Kingdom Of)                    | THAILAND  2.125% 12/17/26/THB/     | CUSIP: Y6065BDX2<br>LEI: 254900PHJ6MSKT6C7026 | Long             | DBT              | NUSS              | TH        |    34100000 | PA      | $1039362.47   | 0.72%             | 2026-12-17      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| Indonesia (Republic of)                  | INDONESIA 8.375% 09/15/26/IDR/     | CUSIP: Y20721AS8<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 86660000000 | PA      | $6179511.27   | 4.28%             | 2026-09-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Indonesia (Republic of)                  | INDONESIA 8.375% 03/15/34/IDR/     | CUSIP: Y39814JF9<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 31570000000 | PA      | $2354165.84   | 1.63%             | 2034-03-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Indonesia (Republic of)                  | INDONESIA GOV 7% 09/15/30/IDR/     | CUSIP: Y6S86ZMP1<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 55440000000 | PA      | $3774210.22   | 2.61%             | 2030-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Indonesia (Republic of)                  | INDONESIA  8.25% 05/15/36/IDR/     | CUSIP: Y6S86ZCS6<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |  8786000000 | PA      | $654208.26    | 0.45%             | 2036-05-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| The Bank of Nova Scotia                  | INR/USD FWD 20230222 000002824 USD | CUSIP: 000000000<br>LEI: L3I9ZG2KFGXZ61BMYR72 | N/A              | DFE              | CORP              | N/A       |           1 | NC      | $-6728.87     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Brown Brothers Harriman & Co.            | USD/PLN FWD 20230222 000000010 USD | CUSIP: 000000000<br>LEI: 5493006KMX1VFTPYPW14 | N/A              | DFE              | CORP              | N/A       |           1 | NC      | $6496.02      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Brown Brothers Harriman & Co.            | THB/USD FWD 20230222 000000010 USD | CUSIP: 000000000<br>LEI: 5493006KMX1VFTPYPW14 | N/A              | DFE              | CORP              | N/A       |           1 | NC      | $2200.17      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| The Bank of Nova Scotia                  | BRL/USD FWD 20230222 000002824 USD | CUSIP: 000000000<br>LEI: L3I9ZG2KFGXZ61BMYR72 | N/A              | DFE              | CORP              | N/A       |           1 | NC      | $20379.97     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| The Bank of Nova Scotia                  | CLP/USD FWD 20230222 000002824 USD | CUSIP: 000000000<br>LEI: L3I9ZG2KFGXZ61BMYR72 | N/A              | DFE              | CORP              | N/A       |           1 | NC      | $20799.62     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| The Bank of Nova Scotia                  | COP/USD FWD 20230222 000002824 USD | CUSIP: 000000000<br>LEI: L3I9ZG2KFGXZ61BMYR72 | N/A              | DFE              | CORP              | N/A       |           1 | NC      | $22641.01     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Brown Brothers Harriman & Co.            | CZK/USD FWD 20230222 000000010 USD | CUSIP: 000000000<br>LEI: 5493006KMX1VFTPYPW14 | N/A              | DFE              | CORP              | N/A       |           1 | NC      | $19275.09     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Brown Brothers Harriman & Co.            | USD/CNH FWD 20230222 000000010 USD | CUSIP: 000000000<br>LEI: 5493006KMX1VFTPYPW14 | N/A              | DFE              | CORP              | N/A       |           1 | NC      | $-16038.03    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Brown Brothers Harriman & Co.            | HUF/USD FWD 20230222 000000010 USD | CUSIP: 000000000<br>LEI: 5493006KMX1VFTPYPW14 | N/A              | DFE              | CORP              | N/A       |           1 | NC      | $36785.97     | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Brown Brothers Harriman & Co.            | MXN/USD FWD 20230222 000000010 USD | CUSIP: 000000000<br>LEI: 5493006KMX1VFTPYPW14 | N/A              | DFE              | CORP              | N/A       |           1 | NC      | $1771.02      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| The Bank of Nova Scotia                  | PEN/USD FWD 20230222 000002824 USD | CUSIP: 000000000<br>LEI: L3I9ZG2KFGXZ61BMYR72 | N/A              | DFE              | CORP              | N/A       |           1 | NC      | $-3715.12     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| The Bank of Nova Scotia                  | PHP/USD FWD 20230222 000002824 USD | CUSIP: 000000000<br>LEI: L3I9ZG2KFGXZ61BMYR72 | N/A              | DFE              | CORP              | N/A       |           1 | NC      | $6320.30      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Brown Brothers Harriman & Co.            | ZAR/USD FWD 20230222 000000010 USD | CUSIP: 000000000<br>LEI: 5493006KMX1VFTPYPW14 | N/A              | DFE              | CORP              | N/A       |           1 | NC      | $-58737.21    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| The Bank of Nova Scotia                  | IDR/USD FWD 20230222 000002824 USD | CUSIP: 000000000<br>LEI: L3I9ZG2KFGXZ61BMYR72 | N/A              | DFE              | CORP              | N/A       |           1 | NC      | $-29724.79    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Brown Brothers Harriman & Co.            | ILS/USD FWD 20230222 000000010 USD | CUSIP: 000000000<br>LEI: 5493006KMX1VFTPYPW14 | N/A              | DFE              | CORP              | N/A       |           1 | NC      | $27931.21     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| The Bank of Nova Scotia                  | KRW/USD FWD 20230222 000002824 USD | CUSIP: 000000000<br>LEI: L3I9ZG2KFGXZ61BMYR72 | N/A              | DFE              | CORP              | N/A       |           1 | NC      | $7757.46      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-28

**Name of Applicant:** First Trust Exchange-Traded Fund III

**Signature:** Donald P. Swade

**Name of Signer:** First Trust Exchange-Traded Fund III

**Title:** Treasurer, Chief Financial Officer and Chief Accounting Officer