# EDGAR Filing Document

**Accession Number:** 0001517936
**File Stem:** 0000940400-25-014247
**Filing Date:** 2025-12
**Character Count:** 262547
**Document Hash:** c7e00c7e35a49873ec5048717f902262
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-014247.hdr.sgml**: 20251223

**ACCESSION NUMBER**: 0000940400-25-014247

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251223

**DATE AS OF CHANGE**: 20251223

**PERIOD START**: 20260731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIRST TRUST EXCHANGE-TRADED FUND IV
- **CENTRAL INDEX KEY:** 0001517936

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22559
- **FILM NUMBER:** 251597867

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

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

## Series and Classes Contracts Data

### First Trust AAA CMBS ETF (Series ID: S000084026)

| Class ID   | Class Name               | Ticker Symbol   |
|:---|:---|:---|
| C000248162 | First Trust AAA CMBS ETF | CAAA            |

## Nport-Ex

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments**

**October 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal** <br>**Value**<br>| **Description** | **Stated** <br>**Coupon**<br>| **Stated** <br>**Maturity**<br>| **Value** |
| **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 35.2%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 35.2%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 35.2%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 35.2%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 35.2%** |
|  | **Collateralized Mortgage Obligations — 21.6%** | **Collateralized Mortgage Obligations — 21.6%** | **Collateralized Mortgage Obligations — 21.6%** |  |
|  | Federal Home Loan Mortgage Corporation |  |  |  |
| $2632217 | &nbsp;&nbsp;&nbsp; Series 2015-4499, Class CZ | 3.50% | 08/15/45 | $2324015 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2229057 | &nbsp;&nbsp;&nbsp; Series 2016-4639, Class HZ | 3.25% | 04/15/53 | 1867162 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 383328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-4942, Class FA, 30 Day Average SOFR + CSA + <br> 0.50% (a) | 4.80% | 01/25/50 | 375447 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3685397 | &nbsp;&nbsp;&nbsp; Series 2022-5202, Class NV | 3.00% | 01/25/37 | 3384693 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4232022 | &nbsp;&nbsp;&nbsp; Series 2022-5224, Class DZ | 4.00% | 04/25/52 | 3877241 |
| &nbsp;&nbsp;&nbsp;&nbsp; 12605000 | &nbsp;&nbsp;&nbsp; Series 2022-5224, Class HL | 4.00% | 04/25/52 | 11789604 |
| &nbsp;&nbsp;&nbsp;&nbsp; 10046350 | &nbsp;&nbsp;&nbsp; Series 2022-5259, Class FA, 30 Day Average SOFR + 0.70% (a) | 4.88% | 09/25/52 | 9950139 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4442030 | &nbsp;&nbsp;&nbsp; Series 2022-5266, Class FA, 30 Day Average SOFR + 0.82% (a) | 5.00% | 09/25/52 | 4393639 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7896594 | &nbsp;&nbsp;&nbsp; Series 2023-5351, Class EO, PO | (b) | 10/25/53 | 6891843 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5172923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-5435, Class BS, (30 Day Average SOFR) ×-2.00+ <br> 11.93% (c) | 3.56% | 07/25/54 | 4906013 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2866962 | &nbsp;&nbsp;&nbsp; Series 2024-5460, Class FN, 30 Day Average SOFR + 1.10% (a) | 5.28% | 10/25/54 | 2871554 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9402389 | &nbsp;&nbsp;&nbsp; Series 2024-5476, Class FA, 30 Day Average SOFR + 1.10% (a) | 5.28% | 11/25/54 | 9415213 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 939485 | &nbsp;&nbsp;&nbsp; Series 2024-5478, Class NF, 30 Day Average SOFR + 1.30% (a) | 5.48% | 12/25/54 | 944163 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3468353 | &nbsp;&nbsp;&nbsp; Series 2024-5487, Class ZM | 3.50% | 12/25/54 | 2882468 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4669997 | &nbsp;&nbsp;&nbsp; Series 2025-5500, Class CZ | 4.50% | 02/25/55 | 4144010 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5974209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-5502, Class FC, 30 Day Average SOFR + 2.00%, <br> 6.00% Cap (a) | 6.00% | 02/25/55 | 6048602 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8770356 | &nbsp;&nbsp;&nbsp; Series 2025-5506, Class DZ | 3.50% | 08/25/42 | 7391003 |
|  | &nbsp;&nbsp; Federal Home Loan Mortgage Corporation Seasoned Credit Risk <br> Transfer Trust |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1147387 | &nbsp;&nbsp;&nbsp; Series 2017-1, Class HA | 3.00% | 01/25/56 | 1093511 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1688656 | &nbsp;&nbsp;&nbsp; Series 2017-2, Class MA | 3.00% | 08/25/56 | 1594419 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2349704 | &nbsp;&nbsp;&nbsp; Series 2018-1, Class MA | 3.00% | 05/25/57 | 2211057 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1386219 | &nbsp;&nbsp;&nbsp; Series 2018-1, Class MT | 3.00% | 05/25/57 | 1190552 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 661387 | &nbsp;&nbsp;&nbsp; Series 2018-3, Class HA | 3.00% | 08/25/57 | 625055 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3786859 | &nbsp;&nbsp;&nbsp; Series 2018-3, Class HV | 3.00% | 08/25/57 | 3431219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 365205 | &nbsp;&nbsp;&nbsp; Series 2018-3, Class MA | 3.50% | 08/25/57 | 355033 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9367005 | &nbsp;&nbsp;&nbsp; Series 2018-4, Class MA | 3.50% | 03/25/58 | 9118615 |
| &nbsp;&nbsp;&nbsp;&nbsp; 15000000 | &nbsp;&nbsp;&nbsp; Series 2018-4, Class MB | 3.50% | 03/25/58 | 12561411 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1503806 | &nbsp;&nbsp;&nbsp; Series 2019-1, Class MA | 3.50% | 07/25/58 | 1463904 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2747447 | &nbsp;&nbsp;&nbsp; Series 2019-2, Class HV | 3.00% | 08/25/58 | 2488262 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3578924 | &nbsp;&nbsp;&nbsp; Series 2019-2, Class MA | 3.50% | 08/26/58 | 3464451 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7449582 | &nbsp;&nbsp;&nbsp; Series 2019-2, Class MV | 3.50% | 08/25/58 | 7058489 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9452510 | &nbsp;&nbsp;&nbsp; Series 2019-3, Class MA | 3.50% | 10/25/58 | 9184794 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 562436 | &nbsp;&nbsp;&nbsp; Series 2019-4, Class HA | 3.00% | 02/25/59 | 524493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 380578 | &nbsp;&nbsp;&nbsp; Series 2019-4, Class MA | 3.00% | 02/25/59 | 353110 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4775346 | &nbsp;&nbsp;&nbsp; Series 2019-4, Class MV | 3.00% | 02/25/59 | 4238291 |
|  | &nbsp;&nbsp; Federal Home Loan Mortgage Corporation Seasoned Loans <br> Structured Transaction Trust |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 232804 | &nbsp;&nbsp;&nbsp; Series 2018-2, Class A2 | 3.50% | 11/25/28 | 225181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 434977 | &nbsp;&nbsp;&nbsp; Series 2019-2, Class A1C | 2.75% | 09/25/29 | 417927 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 150597 | &nbsp;&nbsp;&nbsp; Series 2019-3, Class A1C | 2.75% | 11/25/29 | 144717 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 571212 | &nbsp;&nbsp;&nbsp; Series 2020-2, Class AC | 2.00% | 09/25/30 | 522368 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 931492 | &nbsp;&nbsp;&nbsp; Series 2024-2, Class VF, 30 Day Average SOFR + 1.25% (a) (d) | 5.43% | 10/25/34 | 937778 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7100000 | &nbsp;&nbsp;&nbsp; Series 2025-1, Class A2 | 3.00% | 05/25/35 | 6167640 |
| &nbsp;&nbsp;&nbsp;&nbsp; 15000000 | &nbsp;&nbsp;&nbsp; Series 2025-2, Class A2 | 3.00% | 10/25/35 | 12922658 |

---

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**October 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** |
|  | **Collateralized Mortgage Obligations (Continued)** | **Collateralized Mortgage Obligations (Continued)** | **Collateralized Mortgage Obligations (Continued)** |  |
|  | Federal Home Loan Mortgage Corporation STACR REMIC Trust |  |  |  |
| $5513227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-DNA2, Class A1, 30 Day Average SOFR + <br> 1.25% (a) (d) | 5.43% | 05/25/44 | $5542275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 693333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-HQA2, Class A1, 30 Day Average SOFR + <br> 1.25% (a) (d) | 5.43% | 08/25/44 | 697409 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-DNA1, Class A1, 30 Day Average SOFR + <br> 0.95% (a) (d) | 5.13% | 01/25/45 | 1251828 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1656250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-HQA1, Class A1, 30 Day Average SOFR + <br> 0.95% (a) (d) | 5.13% | 02/25/45 | 1658645 |
|  | Federal National Mortgage Association |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6056123 | &nbsp;&nbsp;&nbsp; Series 2012-118, Class VZ | 3.00% | 11/25/42 | 5601616 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3937687 | &nbsp;&nbsp;&nbsp; Series 2014-60, Class EZ | 3.00% | 10/25/44 | 3621737 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1283968 | &nbsp;&nbsp;&nbsp; Series 2015-65, Class CZ | 3.50% | 09/25/45 | 1127124 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 266954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-45, Class FT, 30 Day Average SOFR + CSA + <br> 0.30% (a) | 4.60% | 06/25/48 | 259951 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 134965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-33, Class F, 30 Day Average SOFR + CSA + <br> 0.45% (a) | 4.75% | 07/25/49 | 132488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 321073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-47, Class FA, 30 Day Average SOFR + CSA + <br> 0.40% (a) | 4.70% | 07/25/50 | 313973 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9893992 | &nbsp;&nbsp;&nbsp; Series 2022-29, Class KZ | 1.50% | 06/25/42 | 7436855 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7579413 | &nbsp;&nbsp;&nbsp; Series 2022-57, Class FB, 30 Day Average SOFR + 0.70% (a) | 4.88% | 09/25/52 | 7464468 |
| &nbsp;&nbsp;&nbsp;&nbsp; 10228278 | &nbsp;&nbsp;&nbsp; Series 2022-66, Class CF, 30 Day Average SOFR + 0.80% (a) | 4.98% | 10/25/52 | 10110995 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4238631 | &nbsp;&nbsp;&nbsp; Series 2022-69, Class FA, 30 Day Average SOFR + 0.82% (a) | 5.00% | 10/25/52 | 4192354 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4765731 | &nbsp;&nbsp;&nbsp; Series 2022-70, Class FA, 30 Day Average SOFR + 0.86% (a) | 5.04% | 10/25/52 | 4718886 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3997416 | &nbsp;&nbsp;&nbsp; Series 2024-20, Class ZQ | 4.00% | 10/25/45 | 3581421 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 976270 | &nbsp;&nbsp;&nbsp; Series 2024-39, Class AV | 3.00% | 11/25/33 | 930075 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3258040 | &nbsp;&nbsp;&nbsp; Series 2024-81, Class FE, 30 Day Average SOFR + 1.15% (a) | 5.33% | 07/25/54 | 3266193 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3391431 | &nbsp;&nbsp;&nbsp; Series 2024-84, Class FD, 30 Day Average SOFR + 1.15% (a) | 5.33% | 11/25/54 | 3400668 |
| &nbsp;&nbsp;&nbsp;&nbsp; 17741055 | &nbsp;&nbsp;&nbsp; Series 2024-98, Class FG, 30 Day Average SOFR + 1.00% (a) | 5.18% | 11/25/54 | 17754606 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2866131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-6, Class FB, 30 Day Average SOFR + 2.00%, 6.00% <br> Cap (a) | 6.00% | 02/25/55 | 2901823 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1864812 | &nbsp;&nbsp;&nbsp; Series 2025-32, Class FD, 30 Day Average SOFR + 1.75% (a) | 5.93% | 05/25/55 | 1881125 |
| &nbsp;&nbsp;&nbsp;&nbsp; 12435197 | &nbsp;&nbsp;&nbsp; Series 2025-49, Class FA, 30 Day Average SOFR + 0.80% (a) | 4.98% | 06/25/55 | 12379872 |
|  | Government National Mortgage Association |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2584263 | &nbsp;&nbsp;&nbsp; Series 2018-89, Class VZ | 3.50% | 06/20/48 | 2336390 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5075522 | &nbsp;&nbsp;&nbsp; Series 2021-105, Class DT | 5.50% | 06/20/51 | 5227799 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6782207 | &nbsp;&nbsp;&nbsp; Series 2022-9, Class AC | 5.50% | 01/20/52 | 7026506 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6669183 | &nbsp;&nbsp;&nbsp; Series 2022-9, Class GJ | 5.50% | 01/20/52 | 6909440 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4857663 | &nbsp;&nbsp;&nbsp; Series 2022-139, Class AL | 4.00% | 07/20/51 | 4458866 |
| &nbsp;&nbsp;&nbsp;&nbsp; 14995707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-79, Class VB, (30 Day Average SOFR) ×-1.50+ <br> 10.95% (c) | 4.67% | 05/20/54 | 14648743 |
| &nbsp;&nbsp;&nbsp;&nbsp; 10574207 | &nbsp;&nbsp;&nbsp; Series 2024-181, Class FQ, 30 Day Average SOFR + 1.15% (a) | 5.33% | 11/20/54 | 10604454 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4309411 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-83, Class SB, (30 Day Average SOFR) ×-2.50+ <br> 14.50% (c) | 4.04% | 05/20/55 | 4307092 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4267109 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-95, Class DC, (30 Day Average SOFR) ×-2.50+ <br> 14.63% (c) | 4.17% | 05/20/55 | 4082280 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8718245 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-98, Class SX, (30 Day Average SOFR) ×-1.80+ <br> 10.44% (c) | 2.91% | 06/20/55 | 8258267 |

---

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**October 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** |
|  | **Collateralized Mortgage Obligations (Continued)** | **Collateralized Mortgage Obligations (Continued)** | **Collateralized Mortgage Obligations (Continued)** |  |
|  | Government National Mortgage Association (Continued) |  |  |  |
| $5295943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-100, Class JS, (30 Day Average SOFR) ×-2.75+ <br> 15.95% (c) | 4.44% | 06/20/55 | $5235890 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8199284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-131, Class ST, (30 Day Average SOFR) ×-1.80+ <br> 10.89% (c) | 3.36% | 08/20/55 | 7354122 |
|  |  |  |  | 346427980 |
|  | **Commercial Mortgage-Backed Securities — 1.7%** | **Commercial Mortgage-Backed Securities — 1.7%** | **Commercial Mortgage-Backed Securities — 1.7%** |  |
|  | Federal Home Loan Mortgage Corporation Multiclass Certificates |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5795000 | &nbsp;&nbsp;&nbsp; Series 2020-RR07, Class BX, IO (e) | 2.61% | 10/27/28 | 332835 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5778199 | &nbsp;&nbsp;&nbsp; Series 2020-RR14, Class X, IO (f) | 2.13% | 03/27/34 | 766386 |
|  | &nbsp;&nbsp; Federal Home Loan Mortgage Corporation Multifamily PC REMIC <br> Trust |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 23500000 | &nbsp;&nbsp;&nbsp; Series 2019-RR01, Class X, IO (e) | 1.53% | 06/25/28 | 767014 |
|  | &nbsp;&nbsp; Federal Home Loan Mortgage Corporation Multifamily Structured <br> Pass Through Certificates |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4950000 | &nbsp;&nbsp;&nbsp; Series 2019-K094, Class XAM, IO (f) | 1.15% | 06/25/29 | 188552 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5281357 | &nbsp;&nbsp;&nbsp; Series 2019-K097, Class X1, IO (f) | 1.08% | 07/25/29 | 179155 |
| &nbsp;&nbsp;&nbsp;&nbsp; 23747730 | &nbsp;&nbsp;&nbsp; Series 2019-K101, Class X1, IO (e) | 0.83% | 10/25/29 | 679776 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 369168 | &nbsp;&nbsp;&nbsp; Series 2019-K103, Class A1 | 2.31% | 06/25/29 | 358638 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2887964 | &nbsp;&nbsp;&nbsp; Series 2019-K736, Class X1, IO (f) | 1.26% | 07/25/26 | 16079 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 217105 | &nbsp;&nbsp;&nbsp; Series 2019-K1510, Class A3 | 3.79% | 01/25/34 | 209138 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 672123 | &nbsp;&nbsp;&nbsp; Series 2019-K1510, Class X1, IO (f) | 0.48% | 01/25/34 | 19085 |
| &nbsp;&nbsp;&nbsp;&nbsp; 26548499 | &nbsp;&nbsp;&nbsp; Series 2019-K1512, Class X1, IO (f) | 0.90% | 04/25/34 | 1366573 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9942479 | &nbsp;&nbsp;&nbsp; Series 2020-K104, Class X1, IO (f) | 1.11% | 01/25/30 | 389095 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5200000 | &nbsp;&nbsp;&nbsp; Series 2020-K104, Class XAM, IO (f) | 1.38% | 01/25/30 | 273773 |
| &nbsp;&nbsp;&nbsp;&nbsp; 18868746 | &nbsp;&nbsp;&nbsp; Series 2020-K110, Class X1, IO (f) | 1.64% | 04/25/30 | 1112511 |
| &nbsp;&nbsp;&nbsp;&nbsp; 33992246 | &nbsp;&nbsp;&nbsp; Series 2020-K115, Class X1, IO (f) | 1.31% | 06/25/30 | 1738996 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7817929 | &nbsp;&nbsp;&nbsp; Series 2020-K116, Class X1, IO (f) | 1.41% | 07/25/30 | 418288 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8363336 | &nbsp;&nbsp;&nbsp; Series 2020-K118, Class X1, IO (f) | 0.95% | 09/25/30 | 321188 |
| &nbsp;&nbsp;&nbsp;&nbsp; 71883237 | &nbsp;&nbsp;&nbsp; Series 2020-K120, Class X1, IO (f) | 1.03% | 10/25/30 | 2934727 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8458710 | &nbsp;&nbsp;&nbsp; Series 2020-KG03, Class X1, IO (f) | 1.36% | 06/25/30 | 429202 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9715538 | &nbsp;&nbsp;&nbsp; Series 2020-KG04, Class X1, IO (f) | 0.84% | 11/25/30 | 332033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 399847 | &nbsp;&nbsp;&nbsp; Series 2020-K1517, Class X1, IO (f) | 1.32% | 07/25/35 | 36804 |
| &nbsp;&nbsp;&nbsp;&nbsp; 34237060 | &nbsp;&nbsp;&nbsp; Series 2021-K130, Class X1, IO (f) | 1.03% | 06/25/31 | 1630875 |
| &nbsp;&nbsp;&nbsp;&nbsp; 92063736 | &nbsp;&nbsp;&nbsp; Series 2021-K132, Class X1, IO (f) | 0.51% | 08/25/31 | 2299494 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2173231 | &nbsp;&nbsp;&nbsp; Series 2021-K743, Class X1, IO (f) | 0.91% | 05/25/28 | 44575 |
| &nbsp;&nbsp;&nbsp;&nbsp; 16678893 | &nbsp;&nbsp;&nbsp; Series 2021-KG05, Class X1, IO (f) | 0.31% | 01/25/31 | 224848 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 268894 | &nbsp;&nbsp;&nbsp; Series 2022-K142, Class A1 | 2.40% | 12/25/31 | 251378 |
| &nbsp;&nbsp; 116788000 | &nbsp;&nbsp;&nbsp; Series 2024-K164, Class XAM, IO (f) | 0.27% | 06/25/34 | 2716501 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4437000 | &nbsp;&nbsp;&nbsp; Series 2024-K165, Class XAM, IO (f) | 0.91% | 09/25/34 | 308080 |
| &nbsp;&nbsp;&nbsp;&nbsp; 22349000 | &nbsp;&nbsp;&nbsp; Series 2024-K167, Class XAM, IO (f) | 0.37% | 11/25/34 | 663271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 919000 | &nbsp;&nbsp;&nbsp; Series 2024-K757, Class XAM, IO (f) | 0.99% | 08/25/31 | 44811 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 325000 | &nbsp;&nbsp;&nbsp; Series 2024-KJ51, Class A2 | 4.70% | 01/25/32 | 331947 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp; Series 2024-KJ52, Class A2 | 4.76% | 01/25/32 | 307205 |
| &nbsp;&nbsp;&nbsp;&nbsp; 73535778 | &nbsp;&nbsp;&nbsp; Series 2025-K541, Class X1, IO (f) | 0.64% | 02/25/30 | 1845991 |
| &nbsp;&nbsp;&nbsp;&nbsp; 71872054 | &nbsp;&nbsp;&nbsp; Series 2025-K546, Class X1, IO (f) | 0.90% | 05/25/30 | 2593913 |
|  | &nbsp;&nbsp; Federal National Mortgage Association Alternative Credit <br> Enhancement Securities |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 349423 | &nbsp;&nbsp;&nbsp; Series 2024-M3, Class Z (f) | 4.55% | 04/25/53 | 296778 |

---

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**October 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** |
|  | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** |  |
|  | Government National Mortgage Association |  |  |  |
| $30324073 | &nbsp;&nbsp;&nbsp; Series 2024-32, IO (f) | 0.70% | 06/16/63 | $1535854 |
|  |  |  |  | 27965369 |
|  | **Pass-Through Securities — 11.9%** | **Pass-Through Securities — 11.9%** | **Pass-Through Securities — 11.9%** |  |
|  | Federal Home Loan Mortgage Corporation | Federal Home Loan Mortgage Corporation | Federal Home Loan Mortgage Corporation | Federal Home Loan Mortgage Corporation |
| &nbsp;&nbsp;&nbsp;&nbsp; 2004733 | &nbsp;&nbsp;&nbsp; Pool Q43173  | 3.00% | 09/01/46 | 1825559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 785752 | &nbsp;&nbsp;&nbsp; Pool RB5112  | 2.50% | 05/01/41 | 712417 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5634650 | &nbsp;&nbsp;&nbsp; Pool RB5126  | 2.50% | 09/01/41 | 5059982 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1595916 | &nbsp;&nbsp;&nbsp; Pool RE6076  | 2.00% | 12/01/50 | 1267057 |
| &nbsp;&nbsp;&nbsp;&nbsp; 15828346 | &nbsp;&nbsp;&nbsp; Pool SD5829  | 4.50% | 10/01/52 | 15551987 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3388840 | &nbsp;&nbsp;&nbsp; Pool SD7309  | 4.00% | 02/01/45 | 3300699 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 580470 | &nbsp;&nbsp;&nbsp; Pool SD7550  | 3.00% | 02/01/52 | 524994 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5246531 | &nbsp;&nbsp;&nbsp; Pool SL0847  | 3.50% | 04/01/49 | 4916611 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 635115 | &nbsp;&nbsp;&nbsp; Pool ZS9776  | 3.50% | 08/01/46 | 600294 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4043419 | &nbsp;&nbsp;&nbsp; Pool ZT0794  | 4.50% | 10/01/48 | 4014187 |
| &nbsp;&nbsp;&nbsp;&nbsp; 17144661 | &nbsp;&nbsp;&nbsp; Pool ZT2264  | 4.00% | 03/01/44 | 16770800 |
|  | Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 461464 | &nbsp;&nbsp;&nbsp; Pool 310208  | 3.00% | 03/01/48 | 411393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 450597 | &nbsp;&nbsp;&nbsp; Pool 310211  | 3.50% | 07/01/48 | 420079 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3809372 | &nbsp;&nbsp;&nbsp; Pool AL8400  | 3.00% | 08/01/43 | 3530948 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5433285 | &nbsp;&nbsp;&nbsp; Pool AL9394  | 3.00% | 11/01/46 | 4907228 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2083481 | &nbsp;&nbsp;&nbsp; Pool AS5843  | 4.00% | 09/01/45 | 2014446 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 240532 | &nbsp;&nbsp;&nbsp; Pool BF0207  | 4.50% | 04/01/47 | 239741 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4464939 | &nbsp;&nbsp;&nbsp; Pool BM6210  | 3.50% | 12/01/47 | 4145953 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9191623 | &nbsp;&nbsp;&nbsp; Pool BM6429  | 3.00% | 09/01/48 | 8195314 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1614394 | &nbsp;&nbsp;&nbsp; Pool BM7345  | 4.50% | 03/01/50 | 1549865 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 338302 | &nbsp;&nbsp;&nbsp; Pool BM7521  | 3.50% | 10/01/48 | 317551 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3697410 | &nbsp;&nbsp;&nbsp; Pool BM7687  | 3.00% | 11/01/46 | 3370007 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4694838 | &nbsp;&nbsp;&nbsp; Pool BM7699  | 3.50% | 02/01/47 | 4446517 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5045486 | &nbsp;&nbsp;&nbsp; Pool FA0606  | 3.50% | 09/01/47 | 4818822 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9605957 | &nbsp;&nbsp;&nbsp; Pool FA1024  | 2.50% | 05/01/51 | 8165657 |
| &nbsp;&nbsp;&nbsp;&nbsp; 10163988 | &nbsp;&nbsp;&nbsp; Pool FA1265  | 4.50% | 12/01/50 | 10090444 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2088914 | &nbsp;&nbsp;&nbsp; Pool FM9416  | 3.50% | 07/01/45 | 1979905 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8636143 | &nbsp;&nbsp;&nbsp; Pool FM9645  | 4.50% | 11/01/49 | 8563394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 349778 | &nbsp;&nbsp;&nbsp; Pool FM9712  | 3.50% | 11/01/50 | 329546 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2639114 | &nbsp;&nbsp;&nbsp; Pool FP0122  | 4.50% | 07/01/51 | 2607055 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5955736 | &nbsp;&nbsp;&nbsp; Pool FS0704  | 4.00% | 03/01/47 | 5767671 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4458215 | &nbsp;&nbsp;&nbsp; Pool FS1046  | 4.50% | 11/01/49 | 4431627 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4219119 | &nbsp;&nbsp;&nbsp; Pool FS6440  | 4.00% | 10/01/48 | 4084654 |
| &nbsp;&nbsp;&nbsp;&nbsp; 11738042 | &nbsp;&nbsp;&nbsp; Pool FS8780  | 3.00% | 07/01/50 | 10704194 |
| &nbsp;&nbsp;&nbsp;&nbsp; 13738626 | &nbsp;&nbsp;&nbsp; Pool FS8862  | 3.50% | 05/01/48 | 13002262 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5556428 | &nbsp;&nbsp;&nbsp; Pool FS9392  | 3.50% | 05/01/49 | 5226711 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1101694 | &nbsp;&nbsp;&nbsp; Pool MA1582  | 3.50% | 09/01/43 | 1042117 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2088595 | &nbsp;&nbsp;&nbsp; Pool MA4025  | 2.50% | 05/01/50 | 1753947 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 187000 | &nbsp;&nbsp;&nbsp; Pool TBA (g) | 2.50% | 11/15/55 | 158796 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7502000 | &nbsp;&nbsp;&nbsp; Pool TBA (g) | 4.00% | 11/15/55 | 7118962 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5186000 | &nbsp;&nbsp;&nbsp; Pool TBA (g) | 5.00% | 11/15/55 | 5160699 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2334000 | &nbsp;&nbsp;&nbsp; Pool TBA (g) | 5.50% | 11/15/55 | 2358397 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 62000 | &nbsp;&nbsp;&nbsp; Pool TBA (g) | 2.50% | 12/15/55 | 52649 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2500000 | &nbsp;&nbsp;&nbsp; Pool TBA (g) | 4.00% | 12/15/55 | 2371280 |

---

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**October 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** |
|  | **Pass-Through Securities (Continued)** | **Pass-Through Securities (Continued)** | **Pass-Through Securities (Continued)** |  |
|  | Federal National Mortgage Association (Continued) | Federal National Mortgage Association (Continued) | Federal National Mortgage Association (Continued) | Federal National Mortgage Association (Continued) |
| $1729000 | &nbsp;&nbsp;&nbsp; Pool TBA (g) | 5.00% | 12/15/55 | $1719146 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1888000 | &nbsp;&nbsp;&nbsp; Pool TBA (g) | 5.50% | 12/15/55 | 1906260 |
|  |  |  |  | 191507824 |
|  | **Total U.S. Government Agency Mortgage-Backed Securities** | **Total U.S. Government Agency Mortgage-Backed Securities** | **Total U.S. Government Agency Mortgage-Backed Securities** | 565901173 |
|  | (Cost $553,710,639) | (Cost $553,710,639) | (Cost $553,710,639) |  |
| **U.S. GOVERNMENT BONDS AND NOTES — 19.5%** | **U.S. GOVERNMENT BONDS AND NOTES — 19.5%** | **U.S. GOVERNMENT BONDS AND NOTES — 19.5%** | **U.S. GOVERNMENT BONDS AND NOTES — 19.5%** | **U.S. GOVERNMENT BONDS AND NOTES — 19.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300000 | U.S. Treasury Bond  | 4.50% | 08/15/39 | 303979 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300000 | U.S. Treasury Bond  | 2.25% | 05/15/41 | 224127 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1136000 | U.S. Treasury Bond  | 3.25% | 05/15/42 | 963048 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300000 | U.S. Treasury Bond  | 4.00% | 11/15/42 | 279697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300000 | U.S. Treasury Bond  | 4.38% | 08/15/43 | 291896 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3900000 | U.S. Treasury Bond  | 4.63% | 11/15/44 | 3896496 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7000000 | U.S. Treasury Bond  | 5.00% | 05/15/45 | 7328125 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1130000 | U.S. Treasury Bond  | 2.75% | 08/15/47 | 828475 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | U.S. Treasury Bond  | 3.00% | 02/15/48 | 1527109 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4000000 | U.S. Treasury Bond  | 3.13% | 05/15/48 | 3117969 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3000000 | U.S. Treasury Bond  | 3.00% | 08/15/48 | 2280234 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 395000 | U.S. Treasury Bond  | 3.38% | 11/15/48 | 320536 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3500000 | U.S. Treasury Bond  | 3.00% | 02/15/49 | 2648516 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7000000 | U.S. Treasury Bond  | 1.38% | 08/15/50 | 3570000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300000 | U.S. Treasury Bond  | 4.00% | 11/15/52 | 268207 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6700000 | U.S. Treasury Bond  | 4.50% | 11/15/54 | 6517975 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | U.S. Treasury Bond  | 4.63% | 02/15/55 | 1985938 |
| &nbsp;&nbsp;&nbsp;&nbsp; 10000000 | U.S. Treasury Bond  | 4.75% | 05/15/55 | 10134375 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1520000 | U.S. Treasury Bond, STRIPS  | (b) | 11/15/33 | 1096717 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3750000 | U.S. Treasury Bond, STRIPS  | (b) | 02/15/34 | 2672883 |
| &nbsp;&nbsp;&nbsp;&nbsp; 12600000 | U.S. Treasury Bond, STRIPS  | (b) | 05/15/34 | 8869726 |
| &nbsp;&nbsp;&nbsp;&nbsp; 21305000 | U.S. Treasury Bond, STRIPS  | (b) | 08/15/34 | 14812213 |
| &nbsp;&nbsp;&nbsp;&nbsp; 23360000 | U.S. Treasury Bond, STRIPS  | (b) | 11/15/34 | 16033818 |
| &nbsp;&nbsp;&nbsp;&nbsp; 21100000 | U.S. Treasury Bond, STRIPS  | (b) | 02/15/35 | 14305695 |
| &nbsp;&nbsp;&nbsp;&nbsp; 21500000 | U.S. Treasury Bond, STRIPS  | (b) | 05/15/35 | 14391488 |
| &nbsp;&nbsp;&nbsp;&nbsp; 22750000 | U.S. Treasury Bond, STRIPS  | (b) | 08/15/35 | 15035752 |
| &nbsp;&nbsp;&nbsp;&nbsp; 10500000 | U.S. Treasury Bond, STRIPS  | (b) | 11/15/35 | 6850496 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4280000 | U.S. Treasury Bond, STRIPS  | (b) | 02/15/36 | 2755784 |
| &nbsp;&nbsp;&nbsp;&nbsp; 16100000 | U.S. Treasury Bond, STRIPS  | (b) | 05/15/36 | 10231286 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | U.S. Treasury Bond, STRIPS  | (b) | 08/15/36 | 627737 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1110000 | U.S. Treasury Bond, STRIPS  | (b) | 05/15/37 | 670235 |
| &nbsp;&nbsp;&nbsp;&nbsp; 11104000 | U.S. Treasury Bond, STRIPS  | (b) | 05/15/38 | 6349104 |
| &nbsp;&nbsp;&nbsp;&nbsp; 20000000 | U.S. Treasury Bond, STRIPS  | (b) | 02/15/40 | 10362364 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | U.S. Treasury Bond, STRIPS  | (b) | 02/15/41 | 489343 |
| &nbsp;&nbsp;&nbsp;&nbsp; 14600000 | U.S. Treasury Bond, STRIPS  | (b) | 11/15/41 | 6850524 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7000000 | U.S. Treasury Bond, STRIPS  | (b) | 08/15/42 | 3219619 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8000000 | U.S. Treasury Bond, STRIPS  | (b) | 11/15/42 | 3624492 |
| &nbsp;&nbsp;&nbsp;&nbsp; 11633930 | U.S. Treasury Inflation Indexed Bond (h) | 2.38% | 10/15/28 | 12063949 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7206710 | U.S. Treasury Inflation Indexed Bond (h) | 1.63% | 10/15/29 | 7328150 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7000000 | U.S. Treasury Note  | 3.75% | 06/30/27 | 7014082 |
| &nbsp;&nbsp;&nbsp;&nbsp; 10000000 | U.S. Treasury Note  | 4.00% | 12/15/27 | 10084570 |
| &nbsp;&nbsp;&nbsp;&nbsp; 11000000 | U.S. Treasury Note  | 4.25% | 01/15/28 | 11150176 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8000000 | U.S. Treasury Note  | 4.25% | 02/15/28 | 8113594 |

---

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**October 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **U.S. GOVERNMENT BONDS AND NOTES (Continued)** | **U.S. GOVERNMENT BONDS AND NOTES (Continued)** | **U.S. GOVERNMENT BONDS AND NOTES (Continued)** | **U.S. GOVERNMENT BONDS AND NOTES (Continued)** | **U.S. GOVERNMENT BONDS AND NOTES (Continued)** |
| $10000000 | U.S. Treasury Note  | 3.88% | 03/15/28 | $10066992 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4000000 | U.S. Treasury Note  | 3.75% | 04/15/28 | 4014297 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5500000 | U.S. Treasury Note  | 3.50% | 04/30/28 | 5488291 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4000000 | U.S. Treasury Note  | 4.38% | 08/31/28 | 4082188 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1500000 | U.S. Treasury Note  | 3.63% | 09/30/31 | 1486260 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | U.S. Treasury Note  | 4.38% | 01/31/32 | 2059883 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4000000 | U.S. Treasury Note  | 4.13% | 03/31/32 | 4063359 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7000000 | U.S. Treasury Note  | 4.00% | 04/30/32 | 7060020 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | U.S. Treasury Note  | 4.13% | 05/31/32 | 2030508 |
| &nbsp;&nbsp;&nbsp;&nbsp; 10000000 | U.S. Treasury Note  | 4.00% | 06/30/32 | 10079492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 510000 | U.S. Treasury Note  | 2.75% | 08/15/32 | 475914 |
| &nbsp;&nbsp;&nbsp;&nbsp; 20000000 | U.S. Treasury Note  | 4.25% | 05/15/35 | 20271875 |
|  | **Total U.S. Government Bonds and Notes** | **Total U.S. Government Bonds and Notes** | **Total U.S. Government Bonds and Notes** | 312669578 |
|  | (Cost $308,765,128) | (Cost $308,765,128) | (Cost $308,765,128) |  |
| **CORPORATE BONDS AND NOTES — 18.8%** | **CORPORATE BONDS AND NOTES — 18.8%** | **CORPORATE BONDS AND NOTES — 18.8%** | **CORPORATE BONDS AND NOTES — 18.8%** | **CORPORATE BONDS AND NOTES — 18.8%** |
|  | **Aerospace/Defense — 0.1%** | **Aerospace/Defense — 0.1%** | **Aerospace/Defense — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500000 | Boeing Co. (The) | 6.63% | 02/15/38 | 557942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500000 | Boeing Co. (The) | 3.55% | 03/01/38 | 420925 |
|  |  |  |  | 978867 |
|  | **Banks — 1.1%** | **Banks — 1.1%** | **Banks — 1.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3170000 | Bank of America Corp. (i) | 4.57% | 04/27/33 | 3165762 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1010000 | Fifth Third Bancorp (i) | 4.77% | 07/28/30 | 1020932 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | Goldman Sachs Group (The), Inc. (i) | 3.10% | 02/24/33 | 917784 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | Huntington Bancshares, Inc. (i) | 5.02% | 05/17/33 | 1008891 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2940000 | JPMorgan Chase & Co. (i) | 4.91% | 07/25/33 | 2999437 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2450000 | Morgan Stanley (i) | 6.34% | 10/18/33 | 2695209 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2750000 | Santander Holdings USA, Inc. (i) | 5.47% | 03/20/29 | 2798373 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1250000 | State Street Corp. (i) | 4.78% | 10/23/36 | 1245415 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1500000 | Wells Fargo & Co. (i) | 4.90% | 07/25/33 | 1523172 |
|  |  |  |  | 17374975 |
|  | **Beverages — 0.9%** | **Beverages — 0.9%** | **Beverages — 0.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | Constellation Brands, Inc. | 4.80% | 05/01/30 | 2030022 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2645000 | Constellation Brands, Inc. | 4.75% | 05/09/32 | 2668651 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | Constellation Brands, Inc. | 4.95% | 11/01/35 | 4924479 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 425000 | Constellation Brands, Inc. | 4.50% | 05/09/47 | 357703 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 820000 | Constellation Brands, Inc. | 5.25% | 11/15/48 | 769280 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3250000 | Keurig Dr. Pepper, Inc. | 5.15% | 05/15/35 | 3252191 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1145000 | Molson Coors Beverage Co. | 4.20% | 07/15/46 | 936726 |
|  |  |  |  | 14939052 |
|  | **Building Materials — 0.4%** | **Building Materials — 0.4%** | **Building Materials — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | Amrize Finance U.S. LLC (d) | 4.95% | 04/07/30 | 2048093 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | Amrize Finance U.S. LLC (d) | 5.40% | 04/07/35 | 2066144 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2500000 | JH North America Holdings, Inc. (d) | 6.13% | 07/31/32 | 2565825 |
|  |  |  |  | 6680062 |
|  | **Commercial Services — 1.4%** | **Commercial Services — 1.4%** | **Commercial Services — 1.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 750000 | Ashtead Capital, Inc. (d) | 4.38% | 08/15/27 | 749128 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3255000 | Ashtead Capital, Inc. (d) | 4.00% | 05/01/28 | 3231660 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2500000 | Ashtead Capital, Inc. (d) | 5.80% | 04/15/34 | 2621979 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2500000 | TR Finance LLC | 5.50% | 08/15/35 | 2601700 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2470000 | TR Finance LLC | 5.85% | 04/15/40 | 2588767 |

---

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**October 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** |
|  | **Commercial Services (Continued)** | **Commercial Services (Continued)** | **Commercial Services (Continued)** |  |
| $4765000 | United Rentals North America, Inc. (d) | 6.00% | 12/15/29 | $4894298 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | Verisk Analytics, Inc. | 5.25% | 03/15/35 | 2040017 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3250000 | Verisk Analytics, Inc. | 5.13% | 02/15/36 | 3271295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 510000 | Verisk Analytics, Inc. | 5.50% | 06/15/45 | 508445 |
|  |  |  |  | 22507289 |
|  | **Computers — 1.0%** | **Computers — 1.0%** | **Computers — 1.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4550000 | Crowdstrike Holdings, Inc. | 3.00% | 02/15/29 | 4339883 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2500000 | Dell International LLC / EMC Corp. | 5.30% | 04/01/32 | 2582816 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2500000 | Dell International LLC / EMC Corp. | 4.75% | 10/06/32 | 2493598 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1635000 | Gartner, Inc. (d) | 4.50% | 07/01/28 | 1621933 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3065000 | Gartner, Inc. (d) | 3.63% | 06/15/29 | 2943283 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1985000 | Gartner, Inc. (d) | 3.75% | 10/01/30 | 1878643 |
|  |  |  |  | 15860156 |
|  | **Distribution/Wholesale — 0.2%** | **Distribution/Wholesale — 0.2%** | **Distribution/Wholesale — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3000000 | American Builders & Contractors Supply Co., Inc. (d) | 4.00% | 01/15/28 | 2959744 |
|  | **Diversified Financial Services — 0.9%** | **Diversified Financial Services — 0.9%** | **Diversified Financial Services — 0.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4000000 | Citadel Securities Global Holdings LLC (d) | 5.50% | 06/18/30 | 4095158 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | LPL Holdings, Inc. | 5.15% | 06/15/30 | 2037265 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1500000 | Rocket Cos., Inc. (d) | 6.38% | 08/01/33 | 1564470 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3500000 | Rocket Mortgage LLC / Rocket Mortgage Co-Issuer, Inc. (d) | 3.88% | 03/01/31 | 3293019 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3000000 | Rocket Mortgage LLC / Rocket Mortgage Co-Issuer, Inc. (d) | 4.00% | 10/15/33 | 2765111 |
|  |  |  |  | 13755023 |
|  | **Electric — 1.6%** | **Electric — 1.6%** | **Electric — 1.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500000 | DTE Electric Co. | 5.85% | 05/15/55 | 527436 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2340000 | Duke Energy Carolinas LLC | 5.30% | 02/15/40 | 2392439 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | Duke Energy Progress LLC | 5.55% | 03/15/55 | 1009925 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3155000 | Florida Power & Light Co. | 5.30% | 04/01/53 | 3099228 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3000000 | Northern States Power Co. | 5.65% | 05/15/55 | 3097470 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3500000 | NRG Energy, Inc. (d) | 4.73% | 10/15/30 | 3493251 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3500000 | NRG Energy, Inc. (d) | 5.41% | 10/15/35 | 3494645 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3500000 | Virginia Electric and Power Co., Series D | 5.60% | 09/15/55 | 3508317 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1980000 | Vistra Operations Co. LLC (d) | 5.05% | 12/30/26 | 1994838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 750000 | Vistra Operations Co. LLC (d) | 4.60% | 10/15/30 | 745638 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2500000 | Vistra Operations Co. LLC (d) | 5.70% | 12/30/34 | 2570103 |
|  |  |  |  | 25933290 |
|  | **Electrical Components & Equipments — 0.3%** | **Electrical Components & Equipments — 0.3%** | **Electrical Components & Equipments — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4500000 | Molex Electronic Technologies LLC (d) | 5.25% | 04/30/32 | 4599776 |
|  | **Environmental Control — 0.1%** | **Environmental Control — 0.1%** | **Environmental Control — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | Waste Management, Inc. | 5.35% | 10/15/54 | 986899 |
|  | **Food — 1.1%** | **Food — 1.1%** | **Food — 1.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1470000 | Campbell's (The) Co. | 5.40% | 03/21/34 | 1510766 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4143000 | Conagra Brands, Inc | 5.75% | 08/01/35 | 4234479 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 970000 | Conagra Brands, Inc. | 5.30% | 11/01/38 | 933985 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2500000 | Conagra Brands, Inc. | 5.40% | 11/01/48 | 2291660 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | Kraft Heinz Foods Co. | 5.20% | 03/15/32 | 1026563 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3335000 | Kraft Heinz Foods Co. | 5.00% | 06/04/42 | 3080005 |

---

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**October 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** |
|  | **Food (Continued)** | **Food (Continued)** | **Food (Continued)** |  |
| $1000000 | Mars, Inc. (d) | 5.20% | 03/01/35 | $1026762 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3500000 | Mars, Inc. (d) | 5.70% | 05/01/55 | 3563782 |
|  |  |  |  | 17668002 |
|  | **Food Service — 0.4%** | **Food Service — 0.4%** | **Food Service — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5375000 | Sodexo, Inc. (d) | 5.80% | 08/15/35 | 5629655 |
|  | **Healthcare-Products — 1.0%** | **Healthcare-Products — 1.0%** | **Healthcare-Products — 1.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | 180 Medical, Inc. (d) | 5.30% | 10/08/35 | 4957820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 910000 | Alcon Finance Corp. (d) | 5.38% | 12/06/32 | 951133 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2265000 | Alcon Finance Corp. (d) | 5.75% | 12/06/52 | 2331968 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4555000 | Solventum Corp. | 5.60% | 03/23/34 | 4739536 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2962000 | Solventum Corp. | 5.90% | 04/30/54 | 3014547 |
|  |  |  |  | 15995004 |
|  | **Healthcare-Services — 2.3%** | **Healthcare-Services — 2.3%** | **Healthcare-Services — 2.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4350000 | Centene Corp. | 4.25% | 12/15/27 | 4290378 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2250000 | Centene Corp. | 3.00% | 10/15/30 | 2009375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 975000 | Charles River Laboratories International, Inc. (d) | 3.75% | 03/15/29 | 935522 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4000000 | Cigna Group (The) | 4.80% | 08/15/38 | 3808775 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1750000 | Cigna Group (The) | 4.80% | 07/15/46 | 1576385 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3500000 | Cigna Group (The) | 6.00% | 01/15/56 | 3617097 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1475000 | Elevance Health, Inc. | 4.65% | 01/15/43 | 1330214 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 525000 | Elevance Health, Inc. | 5.13% | 02/15/53 | 480862 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100000 | Elevance Health, Inc. | 5.70% | 02/15/55 | 98913 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3500000 | Elevance Health, Inc. | 5.70% | 09/15/55 | 3484703 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 765000 | HCA, Inc. | 5.38% | 09/01/26 | 767644 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4864000 | HCA, Inc. | 4.90% | 11/15/35 | 4808249 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1085000 | HCA, Inc. | 4.63% | 03/15/52 | 901233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 65000 | IQVIA, Inc. (d) | 5.70% | 05/15/28 | 67024 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3000000 | IQVIA, Inc. | 5.70% | 05/15/28 | 3093429 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 365000 | UnitedHealth Group, Inc. | 5.88% | 02/15/53 | 375070 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3000000 | UnitedHealth Group, Inc. | 5.95% | 06/15/55 | 3123615 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2710000 | Universal Health Services, Inc. | 2.65% | 10/15/30 | 2460315 |
|  |  |  |  | 37228803 |
|  | **Insurance — 1.6%** | **Insurance — 1.6%** | **Insurance — 1.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 395000 | Arthur J. Gallagher & Co. | 6.50% | 02/15/34 | 437607 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1330000 | Arthur J. Gallagher & Co. | 5.15% | 02/15/35 | 1343663 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 380000 | Arthur J. Gallagher & Co. | 6.75% | 02/15/54 | 428570 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3805000 | Arthur J. Gallagher & Co. | 5.55% | 02/15/55 | 3700998 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2615000 | Brown & Brown, Inc. | 4.20% | 03/17/32 | 2532085 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3245000 | Brown & Brown, Inc. | 5.65% | 06/11/34 | 3361895 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | Brown & Brown, Inc. | 4.95% | 03/17/52 | 885441 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | Brown & Brown, Inc. | 6.25% | 06/23/55 | 1053046 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | Ryan Specialty LLC (d) | 4.38% | 02/01/30 | 4894147 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7553000 | Ryan Specialty LLC (d) | 5.88% | 08/01/32 | 7685789 |
|  |  |  |  | 26323241 |
|  | **Internet — 0.2%** | **Internet — 0.2%** | **Internet — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3855000 | AppLovin Corp. | 5.38% | 12/01/31 | 3980494 |

---

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**October 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** |
|  | **Lodging — 0.2%** | **Lodging — 0.2%** | **Lodging — 0.2%** |  |
| $3250000 | Hyatt Hotels Corp. | 5.75% | 03/30/32 | $3395057 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 600000 | Marriott International, Inc. | 5.10% | 04/15/32 | 616442 |
|  |  |  |  | 4011499 |
|  | **Media — 0.7%** | **Media — 0.7%** | **Media — 0.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6500000 | &nbsp;&nbsp;&nbsp; Charter Communications Operating LLC / Charter Communications <br> Operating Capital | 5.85% | 12/01/35 | 6484876 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4850000 | FactSet Research Systems, Inc. | 3.45% | 03/01/32 | 4489848 |
|  |  |  |  | 10974724 |
|  | **Packaging & Containers — 0.3%** | **Packaging & Containers — 0.3%** | **Packaging & Containers — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | Amcor Flexibles North America, Inc. | 5.10% | 03/17/30 | 2053112 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3000000 | Amcor Flexibles North America, Inc. | 5.50% | 03/17/35 | 3105867 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45000 | Berry Global, Inc. (d) | 5.50% | 04/15/28 | 46297 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300000 | Berry Global, Inc. | 5.65% | 01/15/34 | 313695 |
|  |  |  |  | 5518971 |
|  | **Pharmaceuticals — 0.1%** | **Pharmaceuticals — 0.1%** | **Pharmaceuticals — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2525000 | Becton Dickinson & Co. | 4.69% | 12/15/44 | 2270420 |
|  | **Pipelines — 0.2%** | **Pipelines — 0.2%** | **Pipelines — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3000000 | Cheniere Energy Partners, L.P. | 4.50% | 10/01/29 | 3001746 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 205000 | Sabine Pass Liquefaction LLC | 5.88% | 06/30/26 | 205480 |
|  |  |  |  | 3207226 |
|  | **Private Equity — 0.1%** | **Private Equity — 0.1%** | **Private Equity — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2143000 | Blackstone Reg Finance Co., LLC (j) | 4.95% | 02/15/36 | 2128674 |
|  | **Real Estate — 0.1%** | **Real Estate — 0.1%** | **Real Estate — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | CoStar Group, Inc. (d) | 2.80% | 07/15/30 | 1830920 |
|  | **Real Estate Investment Trusts — 0.1%** | **Real Estate Investment Trusts — 0.1%** | **Real Estate Investment Trusts — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 175000 | Crown Castle, Inc. | 4.45% | 02/15/26 | 174901 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 278000 | VICI Properties, L.P. | 4.75% | 04/01/28 | 280786 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1295000 | VICI Properties, L.P. | 4.95% | 02/15/30 | 1309410 |
|  |  |  |  | 1765097 |
|  | **Software — 1.6%** | **Software — 1.6%** | **Software — 1.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 850000 | Atlassian Corp. | 5.50% | 05/15/34 | 874620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30000 | Fidelity National Information Services, Inc. | 5.10% | 07/15/32 | 30656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 905000 | Fidelity National Information Services, Inc. | 3.10% | 03/01/41 | 676569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 550000 | MSCI, Inc. (d) | 4.00% | 11/15/29 | 536763 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8065000 | MSCI, Inc. (d) | 3.88% | 02/15/31 | 7719487 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2667000 | MSCI, Inc. | 5.25% | 09/01/35 | 2677955 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3500000 | MSCI, Inc. (j) | 5.15% | 03/15/36 | 3464103 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400000 | Oracle Corp. | 6.25% | 11/09/32 | 428692 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 750000 | Oracle Corp. | 4.90% | 02/06/33 | 745257 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | Oracle Corp. | 5.50% | 08/03/35 | 1012036 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2500000 | Oracle Corp. | 5.20% | 09/26/35 | 2463121 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1105000 | Oracle Corp. | 6.13% | 07/08/39 | 1139437 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2500000 | Oracle Corp. | 6.00% | 08/03/55 | 2393561 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | Oracle Corp. | 5.95% | 09/26/55 | 948792 |
|  |  |  |  | 25111049 |
|  | **Telecommunications — 0.5%** | **Telecommunications — 0.5%** | **Telecommunications — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | AT&T, Inc. | 5.55% | 11/01/45 | 1963377 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 405000 | AT&T, Inc. | 4.75% | 05/15/46 | 359432 |

---

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**October 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** |
|  | **Telecommunications (Continued)** | **Telecommunications (Continued)** | **Telecommunications (Continued)** |  |
| $2000000 | AT&T, Inc. | 5.70% | 11/01/54 | $1960309 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5000 | AT&T, Inc. | 3.65% | 09/15/59 | 3390 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3000000 | T-Mobile USA, Inc. | 5.13% | 05/15/32 | 3084858 |
|  |  |  |  | 7371366 |
|  | **Water — 0.3%** | **Water — 0.3%** | **Water — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4333000 | American Water Capital Corp. | 5.70% | 09/01/55 | 4408426 |
|  | **Total Corporate Bonds and Notes** | **Total Corporate Bonds and Notes** | **Total Corporate Bonds and Notes** | 301998704 |
|  | (Cost $296,570,554) | (Cost $296,570,554) | (Cost $296,570,554) |  |
| **MORTGAGE-BACKED SECURITIES — 14.6%** | **MORTGAGE-BACKED SECURITIES — 14.6%** | **MORTGAGE-BACKED SECURITIES — 14.6%** | **MORTGAGE-BACKED SECURITIES — 14.6%** | **MORTGAGE-BACKED SECURITIES — 14.6%** |
|  | **Collateralized Mortgage Obligations — 8.6%** | **Collateralized Mortgage Obligations — 8.6%** | **Collateralized Mortgage Obligations — 8.6%** |  |
|  | Arroyo Mortgage Trust | Arroyo Mortgage Trust | Arroyo Mortgage Trust | Arroyo Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 127355 | &nbsp;&nbsp;&nbsp; Series 2020-1, Class A1A (d) | 1.66% | 03/25/55 | 123409 |
|  | BRAVO Residential Funding Trust | BRAVO Residential Funding Trust | BRAVO Residential Funding Trust | BRAVO Residential Funding Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; Series 2019-1, Class A3 (d) | 3.50% | 03/25/58 | 430042 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 163483 | &nbsp;&nbsp;&nbsp; Series 2019-2, Class A3 (d) | 3.50% | 10/25/44 | 157183 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1067964 | &nbsp;&nbsp;&nbsp; Series 2022-NQM1, Class A1 (d) | 3.63% | 09/25/61 | 1057751 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1333534 | &nbsp;&nbsp;&nbsp; Series 2025-NQM3, Class A1 (d) | 5.57% | 03/25/65 | 1344002 |
|  | Chase Home Lending Mortgage Trust | Chase Home Lending Mortgage Trust | Chase Home Lending Mortgage Trust | Chase Home Lending Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 589037 | &nbsp;&nbsp;&nbsp; Series 2019-ATR2, Class B1 (d) (f) | 3.99% | 07/25/49 | 552184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 375963 | &nbsp;&nbsp;&nbsp; Series 2019-ATR2, Class B2 (d) (f) | 3.99% | 07/25/49 | 351499 |
|  | CIM Trust | CIM Trust | CIM Trust | CIM Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 3413172 | &nbsp;&nbsp;&nbsp; Series 2019-INV3, Class B1A (d) | 4.67% | 08/25/49 | 3343916 |
|  | Citigroup Mortgage Loan Trust | Citigroup Mortgage Loan Trust | Citigroup Mortgage Loan Trust | Citigroup Mortgage Loan Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 442112 | &nbsp;&nbsp;&nbsp; Series 2014-A, Class B3 (d) (f) | 5.49% | 01/25/35 | 439232 |
|  | COLT Mortgage Loan Trust | COLT Mortgage Loan Trust | COLT Mortgage Loan Trust | COLT Mortgage Loan Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 654680 | &nbsp;&nbsp;&nbsp; Series 2021-6, Class A1 (d) | 1.91% | 12/25/66 | 604656 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1760705 | &nbsp;&nbsp;&nbsp; Series 2025-4, Class A1, steps up to 6.79% on 05/01/2029 (d) (k) | 5.79% | 04/25/70 | 1781296 |
|  | Connecticut Avenue Securities Trust | Connecticut Avenue Securities Trust | Connecticut Avenue Securities Trust | Connecticut Avenue Securities Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 2325253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-R05, Class 2A1, 30 Day Average SOFR + <br> 1.00% (a) (d) | 5.18% | 07/25/44 | 2331069 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2217207 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-R01, Class 1A1, 30 Day Average SOFR + <br> 0.95% (a) (d) | 5.13% | 01/25/45 | 2219735 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2151822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-R02, Class 1A1, 30 Day Average SOFR + <br> 1.00% (a) (d) | 5.18% | 02/25/45 | 2157022 |
|  | Credit Suisse Mortgage Trust | Credit Suisse Mortgage Trust | Credit Suisse Mortgage Trust | Credit Suisse Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 679985 | &nbsp;&nbsp;&nbsp; Series 2018-RPL9, Class A (d) | 3.85% | 09/25/57 | 658353 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 252135 | &nbsp;&nbsp;&nbsp; Series 2019-AFC1, Class A1 (d) | 3.57% | 07/25/49 | 243552 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1624449 | &nbsp;&nbsp;&nbsp; Series 2021-RPL6, Class A1 (d) | 2.00% | 10/25/60 | 1481571 |
|  | Cross Mortgage Trust | Cross Mortgage Trust | Cross Mortgage Trust | Cross Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 1808482 | &nbsp;&nbsp;&nbsp; Series 2025-H3, Class A1 (d) | 5.88% | 04/25/70 | 1831482 |
|  | CSMC Trust | CSMC Trust | CSMC Trust | CSMC Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 2591160 | &nbsp;&nbsp;&nbsp; Series 2018-J1, Class A2 (d) | 3.50% | 02/25/48 | 2355240 |
|  | Ellington Financial Mortgage Trust | Ellington Financial Mortgage Trust | Ellington Financial Mortgage Trust | Ellington Financial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 289000 | &nbsp;&nbsp;&nbsp; Series 2019-2, Class M1 (d) | 3.47% | 11/25/59 | 278763 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1782692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-INV2, Class A1, steps up to 6.04% <br> on 09/01/2028 (d) (k) | 5.04% | 10/25/69 | 1777406 |
|  | FARM Mortgage Trust | FARM Mortgage Trust | FARM Mortgage Trust | FARM Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 2739106 | &nbsp;&nbsp;&nbsp; Series 2024-1, Class A (d) (f) | 4.69% | 10/01/53 | 2680196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 319753 | &nbsp;&nbsp;&nbsp; Series 2024-2, Class A (d) (f) | 5.19% | 08/01/54 | 315891 |

---

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**October 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** |
|  | **Collateralized Mortgage Obligations (Continued)** | **Collateralized Mortgage Obligations (Continued)** | **Collateralized Mortgage Obligations (Continued)** |  |
|  | Flagstar Mortgage Trust | Flagstar Mortgage Trust | Flagstar Mortgage Trust | Flagstar Mortgage Trust |
| $2112902 | &nbsp;&nbsp;&nbsp; Series 2018-2, Class B1 (d) (f) | 4.00% | 04/25/48 | $1975913 |
|  | GCAT Trust | GCAT Trust | GCAT Trust | GCAT Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 446379 | &nbsp;&nbsp;&nbsp; Series 2019-RPL1, Class A1 (d) | 2.65% | 10/25/68 | 435507 |
|  | GS Mortgage-Backed Securities Trust | GS Mortgage-Backed Securities Trust | GS Mortgage-Backed Securities Trust | GS Mortgage-Backed Securities Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 182167 | &nbsp;&nbsp;&nbsp; Series 2020-NQM1, Class A3 (d) | 2.35% | 09/27/60 | 173558 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9000000 | &nbsp;&nbsp;&nbsp; Series 2022-LTV1, Class A14 (d) | 3.00% | 06/25/52 | 6571534 |
|  | HOMES Trust | HOMES Trust | HOMES Trust | HOMES Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 6419764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-AFC1, Class A1, steps up to 6.22% <br> on 09/01/2028 (d) (k) | 5.22% | 08/25/59 | 6428513 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2778464 | &nbsp;&nbsp;&nbsp; Series 2024-AFC2, Class A1 (d) | 5.58% | 10/25/59 | 2796751 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2082106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-AFC2, Class A1A, steps up to 6.47% <br> on 06/01/2029 (d) (k) | 5.47% | 06/25/60 | 2096715 |
|  | JP Morgan Mortgage Trust | JP Morgan Mortgage Trust | JP Morgan Mortgage Trust | JP Morgan Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 691733 | &nbsp;&nbsp;&nbsp; Series 2017-6, Class A7 (d) | 3.50% | 12/25/48 | 629938 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1113176 | &nbsp;&nbsp;&nbsp; Series 2019-6, Class B1 (d) (f) | 4.26% | 12/25/49 | 1054170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 311070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-INV1, Class A11, 1 Mo. CME Term SOFR + CSA + <br> 0.95% (a) (d) | 5.06% | 09/25/49 | 302434 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1626445 | &nbsp;&nbsp;&nbsp; Series 2019-INV1, Class B1 (d) (f) | 4.92% | 09/25/49 | 1600599 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 893651 | &nbsp;&nbsp;&nbsp; Series 2019-INV3, Class A13 (d) | 3.50% | 05/25/50 | 809268 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 526530 | &nbsp;&nbsp;&nbsp; Series 2019-INV3, Class A3 (d) | 3.50% | 05/25/50 | 476812 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 480914 | &nbsp;&nbsp;&nbsp; Series 2020-LTV2, Class B1 (d) (f) | 4.01% | 11/25/50 | 441953 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5150000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-3, Class A1C, steps up to 6.64% <br> on 04/01/2029 (d) (k) | 5.64% | 09/25/55 | 5162163 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-5MPR, Class A1C, steps up to 6.82% <br> on 05/01/2029 (d) (k) | 5.82% | 11/25/55 | 5048395 |
|  | MetLife Securitization Trust | MetLife Securitization Trust | MetLife Securitization Trust | MetLife Securitization Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 330911 | &nbsp;&nbsp;&nbsp; Series 2018-1A, Class A (d) | 3.75% | 03/25/57 | 323595 |
|  | MFRA Trust | MFRA Trust | MFRA Trust | MFRA Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 1661032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-INV2, Class A1, steps up to 7.78% <br> on 09/01/2027 (d) (k) | 6.78% | 10/25/58 | 1676669 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4975769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-NQM3, Class A1, steps up to 6.72% <br> on 12/01/2028 (d) (k) | 5.72% | 12/25/69 | 5010825 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1772179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NQM1, Class A1, steps up to 6.44% <br> on 02/01/2029 (d) (k) | 5.44% | 03/25/70 | 1781011 |
|  | Morgan Stanley Residential Mortgage Loan Trust | Morgan Stanley Residential Mortgage Loan Trust | Morgan Stanley Residential Mortgage Loan Trust | Morgan Stanley Residential Mortgage Loan Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 950000 | &nbsp;&nbsp;&nbsp; Series 2025-SPL1, Class A1 (d) (e) | 4.25% | 02/25/65 | 930043 |
|  | New Residential Mortgage Loan Trust | New Residential Mortgage Loan Trust | New Residential Mortgage Loan Trust | New Residential Mortgage Loan Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 1940708 | &nbsp;&nbsp;&nbsp; Series 2016-3A, Class B1 (d) | 4.00% | 09/25/56 | 1899301 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6310634 | &nbsp;&nbsp;&nbsp; Series 2018-3A, Class A1 (d) | 4.50% | 05/25/58 | 6184316 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3160339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-4A, Class A1S, 1 Mo. CME Term SOFR + CSA + <br> 0.75% (a) (d) | 4.86% | 01/25/48 | 3107797 |
|  | OBX Trust | OBX Trust | OBX Trust | OBX Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 855897 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-EXP3, Class 2A1B, 1 Mo. CME Term SOFR + CSA <br> + 0.90% (a) (d) | 5.01% | 10/25/59 | 855382 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1856254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NQM13, Class A1, steps up to 6.44% <br> on 07/01/2029 (d) (k) | 5.44% | 05/25/65 | 1870743 |
|  | Onslow Bay Mortgage Loan Trust | Onslow Bay Mortgage Loan Trust | Onslow Bay Mortgage Loan Trust | Onslow Bay Mortgage Loan Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 274422 | &nbsp;&nbsp;&nbsp; Series 2021-NQM4, Class A1 (d) | 1.96% | 10/25/61 | 237581 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2203552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NQM6, Class A1, steps up to 6.60% <br> on 03/01/2029 (d) (k) | 5.60% | 03/25/65 | 2223942 |

---

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**October 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** |
|  | **Collateralized Mortgage Obligations (Continued)** | **Collateralized Mortgage Obligations (Continued)** | **Collateralized Mortgage Obligations (Continued)** |  |
|  | PRKCM Trust | PRKCM Trust | PRKCM Trust | PRKCM Trust |
| $3707611 | &nbsp;&nbsp;&nbsp; Series 2022-AFC2, Class A1 (d) | 5.34% | 08/25/57 | $3704809 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2114645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-HOME1, Class A1A, steps up to 6.55% <br> on 03/01/2029 (d) (k) | 5.55% | 02/25/60 | 2134324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 897939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-HOME1, Class A1B, steps up to 6.65% <br> on 03/01/2029 (d) (k) | 5.65% | 02/25/60 | 907995 |
|  | PRPM LLC | PRPM LLC | PRPM LLC | PRPM LLC |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 748996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RPL2, Class A1, steps up to 4.50% <br> on 05/25/2028 (d) (k) | 3.50% | 05/25/54 | 730196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 236774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RPL3, Class A1, steps up to 5.00% <br> on 11/25/2028 (d) (k) | 4.00% | 11/25/54 | 231868 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 545882 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RPL4, Class A1, steps up to 5.00% <br> on 12/25/2028 (d) (k) | 4.00% | 12/25/54 | 535068 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2733558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NQM2, Class A1, steps up to 6.69% <br> on 05/01/2029 (d) (k) | 5.69% | 04/25/70 | 2754559 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1443729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RCF4, Class A1, steps up to 5.50% <br> on 08/01/2029 (d) (k) | 4.50% | 08/25/55 | 1430677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 932425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RPL3, Class A1, steps up to 4.25% <br> on 04/01/2028 (d) (k) | 3.25% | 04/25/55 | 900591 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2099668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RPL4, Class A1, steps up to 4.00% <br> on 05/01/2029 (d) (k) | 3.00% | 05/25/55 | 1992996 |
|  | PRPM Trust | PRPM Trust | PRPM Trust | PRPM Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 683380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-NQM3, Class A1, steps up to 7.22% <br> on 01/01/2028 (d) (k) | 6.22% | 11/25/68 | 689259 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2381417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NQM3, Class A1, steps up to 6.61% <br> on 07/01/2029 (d) (k) | 5.61% | 05/25/70 | 2398603 |
|  | RUN Trust | RUN Trust | RUN Trust | RUN Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 3736984 | &nbsp;&nbsp;&nbsp; Series 2022-NQM1, Class A1 (d) | 4.00% | 03/25/67 | 3710023 |
|  | Santander Mortgage Asset Receivable Trust | Santander Mortgage Asset Receivable Trust | Santander Mortgage Asset Receivable Trust | Santander Mortgage Asset Receivable Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 3273640 | &nbsp;&nbsp;&nbsp; Series 2025-NQM2, Class A1 (d) | 5.73% | 02/25/65 | 3304021 |
|  | Starwood Mortgage Residential Trust | Starwood Mortgage Residential Trust | Starwood Mortgage Residential Trust | Starwood Mortgage Residential Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 1759809 | &nbsp;&nbsp;&nbsp; Series 2022-3, Class A1 (d) | 4.16% | 03/25/67 | 1754699 |
|  | Towd Point Mortgage Trust | Towd Point Mortgage Trust | Towd Point Mortgage Trust | Towd Point Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 1792966 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-HY2, Class A1, 1 Mo. CME Term SOFR + CSA + <br> 1.00% (a) (d) | 5.11% | 05/25/58 | 1833533 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1782487 | &nbsp;&nbsp;&nbsp; Series 2022-1, Class A1 (d) | 3.75% | 07/25/62 | 1715702 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 792174 | &nbsp;&nbsp;&nbsp; Series 2022-2, Class A1 (d) | 3.75% | 07/01/62 | 756463 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2677446 | &nbsp;&nbsp;&nbsp; Series 2022-3, Class A1 (d) | 3.75% | 08/01/62 | 2562734 |
|  | TRK Trust | TRK Trust | TRK Trust | TRK Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 3147029 | &nbsp;&nbsp;&nbsp; Series 2021-INV1, Class A1 (d) | 1.15% | 07/25/56 | 2866995 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2391980 | &nbsp;&nbsp;&nbsp; Series 2022-INV1, Class A1 (d) | 2.58% | 02/25/57 | 2249995 |
|  | Verus Securitization Trust | Verus Securitization Trust | Verus Securitization Trust | Verus Securitization Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 2321496 | &nbsp;&nbsp;&nbsp; Series 2022-1, Class A1, steps up to 3.72% on 01/01/2026 (d) (k) | 2.72% | 01/25/67 | 2188085 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2459416 | &nbsp;&nbsp;&nbsp; Series 2022-2, Class A1 (d) | 4.26% | 02/25/67 | 2372247 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1283134 | &nbsp;&nbsp;&nbsp; Series 2025-3, Class A1, steps up to 6.62% on 04/01/2029 (d) (k) | 5.62% | 05/25/70 | 1296506 |
|  | Vista Point Securitization Trust | Vista Point Securitization Trust | Vista Point Securitization Trust | Vista Point Securitization Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 270000 | &nbsp;&nbsp;&nbsp; Series 2020-1, Class M1 (d) | 4.15% | 03/25/65 | 267645 |
|  | Wells Fargo Mortgage Backed Securities Trust | Wells Fargo Mortgage Backed Securities Trust | Wells Fargo Mortgage Backed Securities Trust | Wells Fargo Mortgage Backed Securities Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 2259540 | &nbsp;&nbsp;&nbsp; Series 2018-1, Class B1 (d) (f) | 3.65% | 07/25/47 | 2117258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 116083 | &nbsp;&nbsp;&nbsp; Series 2019-1, Class A1 (d) | 3.92% | 11/25/48 | 110912 |
|  |  |  |  | 138138641 |

---

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**October 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** |
|  | **Commercial Mortgage-Backed Securities — 6.0%** | **Commercial Mortgage-Backed Securities — 6.0%** | **Commercial Mortgage-Backed Securities — 6.0%** |  |
|  | 2023-MIC Trust (The) | 2023-MIC Trust (The) | 2023-MIC Trust (The) | 2023-MIC Trust (The) |
| $2330000 | &nbsp;&nbsp;&nbsp; Series 2023-MIC, Class A (d) (f) | 8.44% | 12/05/38 | $2522969 |
|  | Arbor Multifamily Mortgage Securities Trust | Arbor Multifamily Mortgage Securities Trust | Arbor Multifamily Mortgage Securities Trust | Arbor Multifamily Mortgage Securities Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 9000000 | &nbsp;&nbsp;&nbsp; Series 2020-MF1, Class A4 (d) | 2.50% | 05/15/53 | 8394111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 772250 | &nbsp;&nbsp;&nbsp; Series 2020-MF1, Class A5 (d) | 2.76% | 05/15/53 | 722646 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp; Series 2020-MF1, Class AS (d) | 3.06% | 05/15/53 | 116651 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3155424 | &nbsp;&nbsp;&nbsp; Series 2020-MF1, Class XA, IO (d) (f) | 0.93% | 05/15/53 | 105123 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1860000 | &nbsp;&nbsp;&nbsp; Series 2021-MF2, Class A4 (d) | 2.25% | 06/15/54 | 1664456 |
|  | BANK | BANK | BANK | BANK |
| &nbsp;&nbsp;&nbsp;&nbsp; 28628586 | &nbsp;&nbsp;&nbsp; Series 2019-BN19, Class XA, IO (f) | 0.93% | 08/15/61 | 834772 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 325000 | &nbsp;&nbsp;&nbsp; Series 2020-BN26, Class A3 | 2.16% | 03/15/63 | 296658 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1486830 | &nbsp;&nbsp;&nbsp; Series 2020-BN29, Class A4 | 2.00% | 11/15/53 | 1302167 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6893806 | &nbsp;&nbsp;&nbsp; Series 2020-BN29, Class XA, IO (f) | 1.30% | 11/15/53 | 360589 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4796615 | &nbsp;&nbsp;&nbsp; Series 2020-BNK26, Class XA, IO (f) | 1.19% | 03/15/63 | 184425 |
| &nbsp;&nbsp;&nbsp;&nbsp; 53475668 | &nbsp;&nbsp;&nbsp; Series 2025-BNK49, Class XA, IO (f) | 0.63% | 03/15/58 | 2519030 |
|  | BBCMS Mortgage Trust | BBCMS Mortgage Trust | BBCMS Mortgage Trust | BBCMS Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 3145000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-TALL, Class A, 1 Mo. CME Term SOFR + CSA + <br> 0.87% (a) (d) | 4.95% | 03/15/37 | 2969769 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2800000 | &nbsp;&nbsp;&nbsp; Series 2020-C8, Class A5 | 2.04% | 10/15/53 | 2478962 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1392000 | &nbsp;&nbsp;&nbsp; Series 2023-C20, Class A5 | 5.58% | 07/15/56 | 1464569 |
| &nbsp;&nbsp;&nbsp;&nbsp; 51868972 | &nbsp;&nbsp;&nbsp; Series 2025-C35, Class XA, IO (f) | 0.65% | 07/15/58 | 2662351 |
|  | Benchmark Mortgage Trust | Benchmark Mortgage Trust | Benchmark Mortgage Trust | Benchmark Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 8725456 | &nbsp;&nbsp;&nbsp; Series 2020-B21, Class XA, IO (f) | 1.41% | 12/17/53 | 472999 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2700000 | &nbsp;&nbsp;&nbsp; Series 2021-B25, Class A4 | 2.27% | 04/15/54 | 2461921 |
|  | BMO Mortgage Trust | BMO Mortgage Trust | BMO Mortgage Trust | BMO Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 115000 | &nbsp;&nbsp;&nbsp; Series 2023-C6, Class ASB | 6.21% | 09/15/56 | 123602 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5824000 | &nbsp;&nbsp;&nbsp; Series 2024-5C3, Class XA, IO (f) | 1.12% | 02/15/57 | 185059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp; Series 2024-C9, Class A5 | 5.76% | 07/15/57 | 800565 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3091000 | &nbsp;&nbsp;&nbsp; Series 2025-C12, Class ASB | 5.76% | 06/15/58 | 3289115 |
| &nbsp;&nbsp;&nbsp;&nbsp; 36000000 | &nbsp;&nbsp;&nbsp; Series 2025-C13, Class XA, IO (f) | 1.22% | 10/15/58 | 2847913 |
|  | BSTN Commercial Mortgage Trust | BSTN Commercial Mortgage Trust | BSTN Commercial Mortgage Trust | BSTN Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 1700000 | &nbsp;&nbsp;&nbsp; Series 2025-1C, Class A (d) (f) | 5.37% | 06/15/44 | 1755420 |
|  | BWAY Trust | BWAY Trust | BWAY Trust | BWAY Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 2190000 | &nbsp;&nbsp;&nbsp; Series 2025-1535, Class A (d) (f) | 6.31% | 05/05/42 | 2273608 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 765000 | &nbsp;&nbsp;&nbsp; Series 2025-1535, Class B (d) (f) | 7.46% | 05/05/42 | 802696 |
|  | BX Commercial Mortgage Trust | BX Commercial Mortgage Trust | BX Commercial Mortgage Trust | BX Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 3081000 | &nbsp;&nbsp;&nbsp; Series 2020-VIV4, Class A (d) | 2.84% | 03/09/44 | 2855100 |
|  | BX Trust | BX Trust | BX Trust | BX Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 1480000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-ARIA, Class A, 1 Mo. CME Term SOFR + CSA + <br> 0.90% (a) (d) | 5.05% | 10/15/36 | 1478092 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-GW, Class A, 1 Mo. CME Term SOFR + <br> 1.60% (a) (d) | 5.63% | 07/15/42 | 2005776 |
|  | Cantor Commercial Real Estate Lending | Cantor Commercial Real Estate Lending | Cantor Commercial Real Estate Lending | Cantor Commercial Real Estate Lending |
| &nbsp;&nbsp;&nbsp;&nbsp; 1449101 | &nbsp;&nbsp;&nbsp; Series 2019-CF1, Class A2 | 3.62% | 05/15/52 | 1418825 |
|  | CFCRE Commercial Mortgage Trust | CFCRE Commercial Mortgage Trust | CFCRE Commercial Mortgage Trust | CFCRE Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 152499 | &nbsp;&nbsp;&nbsp; Series 2017-C8, Class ASB | 3.37% | 06/15/50 | 151688 |
|  | CHI Commercial Mortgage Trust | CHI Commercial Mortgage Trust | CHI Commercial Mortgage Trust | CHI Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 2230000 | &nbsp;&nbsp;&nbsp; Series 2025-SFT, Class A (d) (f) | 5.48% | 04/15/42 | 2290933 |
| &nbsp;&nbsp;&nbsp;&nbsp; 62200000 | &nbsp;&nbsp;&nbsp; Series 2025-SFT, Class XA, IO (d) (f) | 0.30% | 04/15/42 | 588536 |

---

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**October 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** |
|  | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** |  |
|  | Citigroup Commercial Mortgage Trust | Citigroup Commercial Mortgage Trust | Citigroup Commercial Mortgage Trust | Citigroup Commercial Mortgage Trust |
| $573971 | &nbsp;&nbsp;&nbsp; Series 2018-C5, Class A3 | 3.96% | 06/10/51 | $569498 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 643819 | &nbsp;&nbsp;&nbsp; Series 2019-GC43, Class AAB | 2.96% | 11/10/52 | 627159 |
|  | COMM Mortgage Trust | COMM Mortgage Trust | COMM Mortgage Trust | COMM Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 7850000 | &nbsp;&nbsp;&nbsp; Series 2024-277P, Class X, IO (d) (f) | 0.66% | 08/10/44 | 194564 |
|  | Credit Suisse Mortgage Trust | Credit Suisse Mortgage Trust | Credit Suisse Mortgage Trust | Credit Suisse Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 1300000 | &nbsp;&nbsp;&nbsp; Series 2019-UVIL, Class A (d) | 3.16% | 12/15/41 | 1224014 |
|  | Deutsche Bank Commercial Mortgage Trust | Deutsche Bank Commercial Mortgage Trust | Deutsche Bank Commercial Mortgage Trust | Deutsche Bank Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp; Series 2020-C9, Class A5 | 1.93% | 08/15/53 | 356638 |
|  | Fashion Show Mall LLC | Fashion Show Mall LLC | Fashion Show Mall LLC | Fashion Show Mall LLC |
| &nbsp;&nbsp;&nbsp;&nbsp; 1400000 | &nbsp;&nbsp;&nbsp; Series 2024-SHOW, Class A (d) (f) | 5.10% | 10/10/41 | 1421239 |
|  | FREMF Mortgage Trust | FREMF Mortgage Trust | FREMF Mortgage Trust | FREMF Mortgage Trust |
| &nbsp;&nbsp; 321212076 | &nbsp;&nbsp;&nbsp; Series 2018-K156, Class X2A, IO (d) | 0.10% | 07/25/36 | 1597870 |
|  | GS Mortgage Securities Trust | GS Mortgage Securities Trust | GS Mortgage Securities Trust | GS Mortgage Securities Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 309906 | &nbsp;&nbsp;&nbsp; Series 2017-GS5, Class AAB | 3.47% | 03/10/50 | 308326 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1756383 | &nbsp;&nbsp;&nbsp; Series 2019-GC39, Class XA, IO (f) | 1.08% | 05/10/52 | 56465 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 975000 | &nbsp;&nbsp;&nbsp; Series 2024-FAIR, Class A (d) (f) | 5.88% | 07/15/29 | 1003919 |
|  | Hilton USA Trust | Hilton USA Trust | Hilton USA Trust | Hilton USA Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 845000 | &nbsp;&nbsp;&nbsp; Series 2016-HHV, Class A (d) | 3.72% | 11/05/38 | 836945 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NVIL, Class A, 1 Mo. CME Term SOFR + <br> 1.74% (a) (d) | 5.78% | 07/15/42 | 1709253 |
|  | Houston Galleria Mall Trust | Houston Galleria Mall Trust | Houston Galleria Mall Trust | Houston Galleria Mall Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 2750000 | &nbsp;&nbsp;&nbsp; Series 2025-HGLR, Class A (d) (f) | 5.46% | 02/05/45 | 2861147 |
|  | INT Commercial Mortgage Trust | INT Commercial Mortgage Trust | INT Commercial Mortgage Trust | INT Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp; Series 2025-PLAZA, Class A (d) (f) (j) | 0.00% | 11/05/37 | 1500382 |
|  | JW Trust | JW Trust | JW Trust | JW Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 1240000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-BERY, Class A, 1 Mo. CME Term SOFR + <br> 1.59% (a) (d) | 5.63% | 11/15/39 | 1242932 |
|  | Morgan Stanley Capital I Trust | Morgan Stanley Capital I Trust | Morgan Stanley Capital I Trust | Morgan Stanley Capital I Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 5613372 | &nbsp;&nbsp;&nbsp; Series 2019-L2, Class XA, IO (f) | 0.99% | 03/15/52 | 152970 |
|  | MSWF Commercial Mortgage Trust | MSWF Commercial Mortgage Trust | MSWF Commercial Mortgage Trust | MSWF Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 40333149 | &nbsp;&nbsp;&nbsp; Series 2023-1, Class XA, IO (f) | 0.86% | 05/15/56 | 2024486 |
|  | NRTH Commercial Mortgage Trust | NRTH Commercial Mortgage Trust | NRTH Commercial Mortgage Trust | NRTH Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 1313500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-PARK, Class A, 1 Mo. CME Term SOFR + <br> 1.39% (a) (d) | 5.54% | 10/15/40 | 1315870 |
|  | NY Commercial Mortgage Trust | NY Commercial Mortgage Trust | NY Commercial Mortgage Trust | NY Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 1520000 | &nbsp;&nbsp;&nbsp; Series 2025-299P, Class A (d) (f) | 5.66% | 02/10/47 | 1599893 |
|  | NYO Commercial Mortgage Trust | NYO Commercial Mortgage Trust | NYO Commercial Mortgage Trust | NYO Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 3100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1290, Class A, 1 Mo. CME Term SOFR + CSA + <br> 1.10% (a) (d) | 5.24% | 11/15/38 | 3088967 |
|  | SFO Commercial Mortgage Trust | SFO Commercial Mortgage Trust | SFO Commercial Mortgage Trust | SFO Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 3288100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-555, Class A, 1 Mo. CME Term SOFR + CSA + <br> 1.15% (a) (d) | 5.30% | 05/15/38 | 3269049 |
|  | SKY Trust | SKY Trust | SKY Trust | SKY Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 2713533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-LINE, Class A, 1 Mo. CME Term SOFR + <br> 2.59% (a) (d) | 6.62% | 04/15/42 | 2733219 |
|  | UBS Commercial Mortgage Trust | UBS Commercial Mortgage Trust | UBS Commercial Mortgage Trust | UBS Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 22291806 | &nbsp;&nbsp;&nbsp; Series 2019-C17, Class XA, IO (f) | 1.44% | 10/15/52 | 1027507 |
|  | Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 12651271 | &nbsp;&nbsp;&nbsp; Series 2017-C41, Class XA, IO (f) | 1.15% | 11/15/50 | 220157 |

---

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**October 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** |
|  | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** |  |
|  | Wells Fargo Commercial Mortgage Trust (Continued) | Wells Fargo Commercial Mortgage Trust (Continued) | Wells Fargo Commercial Mortgage Trust (Continued) | Wells Fargo Commercial Mortgage Trust (Continued) |
| $2737274 | &nbsp;&nbsp;&nbsp; Series 2018-C47, Class AS | 4.67% | 09/15/61 | $2722777 |
| &nbsp;&nbsp;&nbsp;&nbsp; 26502472 | &nbsp;&nbsp;&nbsp; Series 2019-C49, Class XA, IO (f) | 1.24% | 03/15/52 | 799900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 436376 | &nbsp;&nbsp;&nbsp; Series 2020-C58, Class A3 | 1.81% | 07/15/53 | 394698 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2950000 | &nbsp;&nbsp;&nbsp; Series 2022-C62, Class A4 | 4.00% | 04/15/55 | 2827446 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-B33RP, Class A, 1 Mo. CME Term SOFR + <br> 1.35% (a) (d) | 5.38% | 08/15/42 | 2555229 |
|  | WHARF Commercial Mortgage Trust | WHARF Commercial Mortgage Trust | WHARF Commercial Mortgage Trust | WHARF Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 2175000 | &nbsp;&nbsp;&nbsp; Series 2025-DC, Class A (d) (f) | 5.35% | 07/15/40 | 2236622 |
|  |  |  |  | 96880237 |
|  | **Total Mortgage-Backed Securities** | **Total Mortgage-Backed Securities** | **Total Mortgage-Backed Securities** | 235018878 |
|  | (Cost $231,508,119) | (Cost $231,508,119) | (Cost $231,508,119) |  |
| **ASSET-BACKED SECURITIES — 5.2%** | **ASSET-BACKED SECURITIES — 5.2%** | **ASSET-BACKED SECURITIES — 5.2%** | **ASSET-BACKED SECURITIES — 5.2%** | **ASSET-BACKED SECURITIES — 5.2%** |
|  | American Heritage Auto Receivables Trust | American Heritage Auto Receivables Trust | American Heritage Auto Receivables Trust | American Heritage Auto Receivables Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 640000 | &nbsp;&nbsp;&nbsp; Series 2024-1A, Class A3 (d) | 4.90% | 09/17/29 | 645691 |
|  | Battalion CLO XXIV Ltd. | Battalion CLO XXIV Ltd. | Battalion CLO XXIV Ltd. | Battalion CLO XXIV Ltd. |
| &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-24A, Class AR, 3 Mo. CME Term SOFR + <br> 1.33% (a) (d) | 5.24% | 07/14/36 | 2002693 |
|  | Capital Street Master Trust | Capital Street Master Trust | Capital Street Master Trust | Capital Street Master Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; Series 2024-1, Class A, 30 Day Average SOFR + 1.35% (a) (d) | 5.55% | 10/16/28 | 251229 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2500000 | &nbsp;&nbsp;&nbsp; Series 2025-1, Class A, 30 Day Average SOFR + 1.10% (a) (d) | 5.30% | 08/16/29 | 2502445 |
|  | Cbam Ltd. | Cbam Ltd. | Cbam Ltd. | Cbam Ltd. |
| &nbsp;&nbsp;&nbsp;&nbsp; 1495000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-7A, Class B1, 3 Mo. CME Term SOFR + CSA + <br> 1.60% (a) (d) | 5.75% | 07/20/31 | 1499582 |
|  | Chase Auto Owner Trust | Chase Auto Owner Trust | Chase Auto Owner Trust | Chase Auto Owner Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 876000 | &nbsp;&nbsp;&nbsp; Series 2022-AA, Class A4 (d) | 3.99% | 03/27/28 | 875833 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95000 | &nbsp;&nbsp;&nbsp; Series 2024-1A, Class A4 (d) | 5.05% | 10/25/29 | 96831 |
|  | CIFC Funding Ltd. | CIFC Funding Ltd. | CIFC Funding Ltd. | CIFC Funding Ltd. |
| &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-4A, Class A1A2, 3 Mo. CME Term SOFR + CSA + <br> 1.07% (a) (d) | 5.22% | 04/20/34 | 2002114 |
|  | CoreVest American Finance Trust | CoreVest American Finance Trust | CoreVest American Finance Trust | CoreVest American Finance Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 435905 | &nbsp;&nbsp;&nbsp; Series 2019-3, Class A (d) | 2.71% | 10/15/52 | 434655 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 198466 | &nbsp;&nbsp;&nbsp; Series 2020-1, Class A2 (d) | 2.30% | 03/15/50 | 190571 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8957 | &nbsp;&nbsp;&nbsp; Series 2020-2, Class A (d) | 3.38% | 05/15/52 | 8927 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1010000 | &nbsp;&nbsp;&nbsp; Series 2020-2, Class B (d) | 4.24% | 05/15/52 | 1004378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 216075 | &nbsp;&nbsp;&nbsp; Series 2020-3, Class A (d) | 1.36% | 08/15/53 | 213201 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1758445 | &nbsp;&nbsp;&nbsp; Series 2021-1, Class A (d) | 1.57% | 04/15/53 | 1731756 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 739193 | &nbsp;&nbsp;&nbsp; Series 2021-2, Class A (d) | 1.41% | 07/15/54 | 714515 |
|  | Elmwood CLO X Ltd. | Elmwood CLO X Ltd. | Elmwood CLO X Ltd. | Elmwood CLO X Ltd. |
| &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-3A, Class AR2, 3 Mo. CME Term SOFR + <br> 1.30% (a) (d) | 5.18% | 07/20/38 | 2005000 |
|  | FNA VI LLC | FNA VI LLC | FNA VI LLC | FNA VI LLC |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 576256 | &nbsp;&nbsp;&nbsp; Series 2021-1A, Class A (d) | 1.35% | 01/10/32 | 540714 |
|  | Garnet CLO 2 Ltd. | Garnet CLO 2 Ltd. | Garnet CLO 2 Ltd. | Garnet CLO 2 Ltd. |
| &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-2A, Class A, 3 Mo. CME Term SOFR + <br> 1.35% (a) (d) | 5.43% | 10/20/38 | 2004434 |
|  | Generate CLO 16 Ltd. | Generate CLO 16 Ltd. | Generate CLO 16 Ltd. | Generate CLO 16 Ltd. |
| &nbsp;&nbsp;&nbsp;&nbsp; 1600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-16A, Class A1, 3 Mo. CME Term SOFR + <br> 1.54% (a) (d) | 5.42% | 07/20/37 | 1608202 |

---

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**October 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** |
|  | GLS Auto Receivables Issuer Trust | GLS Auto Receivables Issuer Trust | GLS Auto Receivables Issuer Trust | GLS Auto Receivables Issuer Trust |
| $900000 | &nbsp;&nbsp;&nbsp; Series 2024-3A, Class A3 (d) | 5.02% | 04/17/28 | $902056 |
|  | GLS Auto Select Receivables Trust | GLS Auto Select Receivables Trust | GLS Auto Select Receivables Trust | GLS Auto Select Receivables Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 1058112 | &nbsp;&nbsp;&nbsp; Series 2023-1A, Class A3 (d) | 5.96% | 10/16/28 | 1066560 |
|  | Gracie Point International Funding LLC | Gracie Point International Funding LLC | Gracie Point International Funding LLC | Gracie Point International Funding LLC |
| &nbsp;&nbsp;&nbsp;&nbsp; 1802000 | &nbsp;&nbsp;&nbsp; Series 2024-1A, Class A, 90 Day Average SOFR + 1.70% (a) (d) | 6.06% | 03/01/28 | 1805121 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3700000 | &nbsp;&nbsp;&nbsp; Series 2025-1A, Class A, 30 Day Average SOFR + 1.50% (a) (d) | 5.81% | 08/15/28 | 3701952 |
|  | Harriman Park CLO Ltd. | Harriman Park CLO Ltd. | Harriman Park CLO Ltd. | Harriman Park CLO Ltd. |
| &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-1A, Class ARR, 3 Mo. CME Term SOFR + <br> 1.30% (a) (d) | 5.18% | 07/20/38 | 2006157 |
|  | Home Partners of America Trust | Home Partners of America Trust | Home Partners of America Trust | Home Partners of America Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 955980 | &nbsp;&nbsp;&nbsp; Series 2020-2, Class A (d) | 1.53% | 01/17/41 | 874304 |
|  | HPEFS Equipment Trust | HPEFS Equipment Trust | HPEFS Equipment Trust | HPEFS Equipment Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 112066 | &nbsp;&nbsp;&nbsp; Series 2023-2A, Class A3 (d) | 5.99% | 01/21/31 | 112148 |
|  | OHA Credit Funding 15-R Ltd. | OHA Credit Funding 15-R Ltd. | OHA Credit Funding 15-R Ltd. | OHA Credit Funding 15-R Ltd. |
| &nbsp;&nbsp;&nbsp;&nbsp; 2200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-15RA, Class A, 3 Mo. CME Term SOFR + <br> 1.29% (a) (d) | 5.17% | 07/20/38 | 2207700 |
|  | Oscar US Funding XV LLC | Oscar US Funding XV LLC | Oscar US Funding XV LLC | Oscar US Funding XV LLC |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 597254 | &nbsp;&nbsp;&nbsp; Series 2023-1A, Class A3 (d) | 5.81% | 12/10/27 | 601708 |
|  | Oscar US Funding XVII LLC | Oscar US Funding XVII LLC | Oscar US Funding XVII LLC | Oscar US Funding XVII LLC |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp; Series 2024-2A, Class A3 (d) | 4.47% | 03/12/29 | 100287 |
|  | OZLM XXIV Ltd. | OZLM XXIV Ltd. | OZLM XXIV Ltd. | OZLM XXIV Ltd. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-24A, Class A1AR, 3 Mo. CME Term SOFR + CSA <br> + 1.16% (a) (d) | 5.31% | 07/20/32 | 400657 |
|  | Pagaya AI Debt Grantor Trust | Pagaya AI Debt Grantor Trust | Pagaya AI Debt Grantor Trust | Pagaya AI Debt Grantor Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 196090 | &nbsp;&nbsp;&nbsp; Series 2024-8, Class A (d) | 5.33% | 01/15/32 | 196810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 269543 | &nbsp;&nbsp;&nbsp; Series 2024-9, Class A (d) | 5.07% | 03/15/32 | 270158 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 874000 | &nbsp;&nbsp;&nbsp; Series 2024-10, Class A (d) | 5.18% | 06/15/32 | 877978 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 987696 | &nbsp;&nbsp;&nbsp; Series 2024-11, Class A (d) | 5.09% | 07/15/32 | 991579 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3364214 | &nbsp;&nbsp;&nbsp; Series 2025-1, Class A2 (d) | 5.16% | 07/15/32 | 3390439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 728303 | &nbsp;&nbsp;&nbsp; Series 2025-2, Class A (d) (e) | 4.90% | 10/15/32 | 730329 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2500000 | &nbsp;&nbsp;&nbsp; Series 2025-5, Class A2 (d) | 5.11% | 03/15/33 | 2514932 |
|  | Pagaya AI Debt Trust | Pagaya AI Debt Trust | Pagaya AI Debt Trust | Pagaya AI Debt Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; Series 2025-4, Class A2 (d) | 5.37% | 01/17/33 | 1007650 |
|  | PFS Financing Corp. | PFS Financing Corp. | PFS Financing Corp. | PFS Financing Corp. |
| &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; Series 2025-C, Class A, 30 Day Average SOFR + 0.95% (a) (d) | 5.18% | 04/15/29 | 1004202 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp; Series 2025-D, Class A (d) | 4.47% | 05/15/30 | 1512871 |
|  | Progress Residential Trust | Progress Residential Trust | Progress Residential Trust | Progress Residential Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 5484964 | &nbsp;&nbsp;&nbsp; Series 2025-SFR1, Class A (d) | 3.40% | 02/17/42 | 5259270 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2600000 | &nbsp;&nbsp;&nbsp; Series 2025-SFR3, Class A (d) | 3.39% | 07/17/42 | 2477376 |
|  | PRPM LLC | PRPM LLC | PRPM LLC | PRPM LLC |
| &nbsp;&nbsp;&nbsp;&nbsp; 1575000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RCF5, Class A1, steps up to 5.84% <br> on 10/01/2029 (d) (k) | 4.84% | 10/25/55 | 1573221 |
|  | Research-Driven Pagaya Motor Asset Trust | Research-Driven Pagaya Motor Asset Trust | Research-Driven Pagaya Motor Asset Trust | Research-Driven Pagaya Motor Asset Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 1182012 | &nbsp;&nbsp;&nbsp; Series 2023-3A, Class A (d) | 7.13% | 01/26/32 | 1183619 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1048518 | &nbsp;&nbsp;&nbsp; Series 2025-1A, Class A (d) | 5.04% | 06/27/33 | 1050730 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2200000 | &nbsp;&nbsp;&nbsp; Series 2025-3A, Class A2 (d) | 5.15% | 02/27/34 | 2206597 |
|  | Research-Driven Pagaya Motor Trust | Research-Driven Pagaya Motor Trust | Research-Driven Pagaya Motor Trust | Research-Driven Pagaya Motor Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 2250000 | &nbsp;&nbsp;&nbsp; Series 2025-5A, Class A3 (d) | 4.84% | 06/26/34 | 2246242 |
|  | Rockland Park CLO Ltd. | Rockland Park CLO Ltd. | Rockland Park CLO Ltd. | Rockland Park CLO Ltd. |
| &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A, Class A1R, 3 Mo. CME Term SOFR + <br> 1.30% (a) (d) | 5.18% | 07/20/38 | 2005083 |

---

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**October 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** |
|  | Signal Peak CLO 3 Ltd. | Signal Peak CLO 3 Ltd. | Signal Peak CLO 3 Ltd. | Signal Peak CLO 3 Ltd. |
| $490000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2016-3A, Class AR3, 3 Mo. CME Term SOFR + <br> 1.59% (a) (d) | 5.45% | 01/23/37 | $491889 |
|  | Silver Point CLO 7 Ltd. | Silver Point CLO 7 Ltd. | Silver Point CLO 7 Ltd. | Silver Point CLO 7 Ltd. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-7A, Class A1, 3 Mo. CME Term SOFR + <br> 1.36% (a) (d) | 5.26% | 01/15/38 | 500475 |
|  | Silver Point CLO 9 Ltd. | Silver Point CLO 9 Ltd. | Silver Point CLO 9 Ltd. | Silver Point CLO 9 Ltd. |
| &nbsp;&nbsp;&nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-9A, Class A1, 3 Mo. CME Term SOFR + <br> 1.52% (a) (d) | 5.81% | 03/31/38 | 1504494 |
|  | Sixth Street CLO XX Ltd. | Sixth Street CLO XX Ltd. | Sixth Street CLO XX Ltd. | Sixth Street CLO XX Ltd. |
| &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-20A, Class A1R, 3 Mo. CME Term SOFR + <br> 1.32% (a) (d) | 5.20% | 07/17/38 | 2009205 |
|  | Sound Point CLO XXVIII Ltd. | Sound Point CLO XXVIII Ltd. | Sound Point CLO XXVIII Ltd. | Sound Point CLO XXVIII Ltd. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 707951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-3A, Class A1R, 3 Mo. CME Term SOFR + <br> 1.28% (a) (d) | 5.14% | 01/25/32 | 708356 |
|  | STAR Trust | STAR Trust | STAR Trust | STAR Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 4993410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-SFR5, Class A, 1 Mo. CME Term SOFR + <br> 1.45% (a) (d) | 5.48% | 02/17/42 | 4998713 |
|  | Steele Creek CLO Ltd. | Steele Creek CLO Ltd. | Steele Creek CLO Ltd. | Steele Creek CLO Ltd. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-1A, Class B, 3 Mo. CME Term SOFR + CSA + <br> 1.48% (a) (d) | 5.65% | 04/15/31 | 250578 |
|  | Stratus Funding CLO Ltd. | Stratus Funding CLO Ltd. | Stratus Funding CLO Ltd. | Stratus Funding CLO Ltd. |
| &nbsp;&nbsp;&nbsp;&nbsp; 2250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-1A, Class A2, 3 Mo. CME Term SOFR + <br> 1.33% (a) (d) | 5.23% | 07/15/33 | 2243088 |
|  | Trinitas CLO XXVIII Ltd. | Trinitas CLO XXVIII Ltd. | Trinitas CLO XXVIII Ltd. | Trinitas CLO XXVIII Ltd. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 320000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-28A, Class A1, 3 Mo. CME Term SOFR + <br> 1.55% (a) (d) | 5.41% | 04/25/37 | 320979 |
|  | Venture 42 CLO Ltd. | Venture 42 CLO Ltd. | Venture 42 CLO Ltd. | Venture 42 CLO Ltd. |
| &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-42A, Class A1A, 3 Mo. CME Term SOFR + CSA + <br> 1.13% (a) (d) | 5.30% | 04/15/34 | 5001273 |
|  | Venture XIX CLO Ltd. | Venture XIX CLO Ltd. | Venture XIX CLO Ltd. | Venture XIX CLO Ltd. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 175349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2014-19A, Class ARR, 3 Mo. CME Term SOFR + CSA + <br> 1.26% (a) (d) | 5.43% | 01/15/32 | 175486 |
|  | **Total Asset-Backed Securities** | **Total Asset-Backed Securities** | **Total Asset-Backed Securities** | 82815043 |
|  | (Cost $82,299,140) | (Cost $82,299,140) | (Cost $82,299,140) |  |
| **FOREIGN CORPORATE BONDS AND NOTES — 3.5%** | **FOREIGN CORPORATE BONDS AND NOTES — 3.5%** | **FOREIGN CORPORATE BONDS AND NOTES — 3.5%** | **FOREIGN CORPORATE BONDS AND NOTES — 3.5%** | **FOREIGN CORPORATE BONDS AND NOTES — 3.5%** |
|  | **Apparel — 0.4%** | **Apparel — 0.4%** | **Apparel — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4000000 | Gildan Activewear, Inc. (d) | 4.70% | 10/07/30 | 3983673 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3000000 | Gildan Activewear, Inc. (d) | 5.40% | 10/07/35 | 2989433 |
|  |  |  |  | 6973106 |
|  | **Banks — 1.3%** | **Banks — 1.3%** | **Banks — 1.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | Banco Santander S.A. (j) | 5.13% | 11/06/35 | 2003019 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2330000 | Barclays PLC (i) | 4.97% | 05/16/29 | 2364852 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | BNP Paribas S.A. (d) (i) | 5.09% | 05/09/31 | 2034578 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | BNP Paribas S.A. (d) (i) | 5.89% | 12/05/34 | 2129516 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | Credit Agricole S.A. (d) (i) | 5.34% | 01/10/30 | 1029404 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5500000 | Credit Agricole S.A. (d) (i) | 4.82% | 09/25/33 | 5469857 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 345000 | Lloyds Banking Group PLC (i) | 5.68% | 01/05/35 | 362392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 800000 | Toronto-Dominion Bank (The) | 4.93% | 10/15/35 | 802031 |

---

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**October 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **FOREIGN CORPORATE BONDS AND NOTES (Continued)** | **FOREIGN CORPORATE BONDS AND NOTES (Continued)** | **FOREIGN CORPORATE BONDS AND NOTES (Continued)** | **FOREIGN CORPORATE BONDS AND NOTES (Continued)** | **FOREIGN CORPORATE BONDS AND NOTES (Continued)** |
|  | **Banks (Continued)** | **Banks (Continued)** | **Banks (Continued)** |  |
| $2710000 | UBS Group AG (d) (i) | 4.19% | 04/01/31 | $2680248 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2500000 | UBS Group AG (d) (i) | 5.58% | 05/09/36 | 2609983 |
|  |  |  |  | 21485880 |
|  | **Beverages — 0.1%** | **Beverages — 0.1%** | **Beverages — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 240000 | Bacardi Ltd. / Bacardi-Martini B.V. (d) | 5.25% | 01/15/29 | 245334 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | Bacardi-Martini B.V. (d) | 5.55% | 02/01/30 | 1034136 |
|  |  |  |  | 1279470 |
|  | **Building Materials — 0.2%** | **Building Materials — 0.2%** | **Building Materials — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3000000 | Cemex S.A.B. de C.V. (d) | 5.45% | 11/19/29 | 3046341 |
|  | **Entertainment — 0.4%** | **Entertainment — 0.4%** | **Entertainment — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1105000 | Flutter Treasury DAC (d) | 6.38% | 04/29/29 | 1145584 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4900000 | Flutter Treasury DAC (d) | 5.88% | 06/04/31 | 4964313 |
|  |  |  |  | 6109897 |
|  | **Healthcare-Services — 0.4%** | **Healthcare-Services — 0.4%** | **Healthcare-Services — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3800000 | Icon Investments Six DAC | 5.85% | 05/08/29 | 3971194 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2415000 | Icon Investments Six DAC | 6.00% | 05/08/34 | 2534823 |
|  |  |  |  | 6506017 |
|  | **Insurance — 0.1%** | **Insurance — 0.1%** | **Insurance — 0.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1530000 | Aon Global Ltd.  | 4.75% | 05/15/45 | 1384726 |
|  | **Packaging & Containers — 0.2%** | **Packaging & Containers — 0.2%** | **Packaging & Containers — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 3500000 | CCL Industries, Inc. (d) | 3.05% | 06/01/30 | 3291944 |
|  | **Software — 0.4%** | **Software — 0.4%** | **Software — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 670000 | Constellation Software, Inc. (d) | 5.46% | 02/16/34 | 679956 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4895000 | Open Text Corp. (d) | 6.90% | 12/01/27 | 5101828 |
|  |  |  |  | 5781784 |
|  | **Total Foreign Corporate Bonds and Notes** | **Total Foreign Corporate Bonds and Notes** | **Total Foreign Corporate Bonds and Notes** | 55859165 |
|  | (Cost $54,947,932) | (Cost $54,947,932) | (Cost $54,947,932) |  |
| **MUNICIPAL BONDS — 2.4%** | **MUNICIPAL BONDS — 2.4%** | **MUNICIPAL BONDS — 2.4%** | **MUNICIPAL BONDS — 2.4%** | **MUNICIPAL BONDS — 2.4%** |
|  | **New Jersey — 0.4%** | **New Jersey — 0.4%** | **New Jersey — 0.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 6000000 | NJ Transprtn Trust Fund Auth, Ser AA | 5.00% | 06/15/50 | 6270676 |
|  | **New York — 1.1%** | **New York — 1.1%** | **New York — 1.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 4000000 | City of NY, Ser G-1 | 5.25% | 02/01/50 | 4276305 |
| &nbsp;&nbsp;&nbsp;&nbsp; 9140000 | NY City Transitional Fin Auth, Ser A | 5.50% | 05/01/50 | 9999368 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3000000 | NY St Dorm Auth, Ser C | 5.50% | 03/15/53 | 3276296 |
|  |  |  |  | 17551969 |
|  | **Texas — 0.9%** | **Texas — 0.9%** | **Texas — 0.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 7000000 | Dallas Fort Worth Intl Arpts, Ser A-1, AMT | 5.25% | 11/01/46 | 7415981 |
| &nbsp;&nbsp;&nbsp;&nbsp; 6700000 | &nbsp;&nbsp;&nbsp; New Hope Cultural Edu Facs Fin Corp TX Hosp Rev Children's <br> Hlth Sys of TX, Ser A | 5.50% | 08/15/49 | 7360134 |
|  |  |  |  | 14776115 |
|  | **Total Municipal Bonds** | **Total Municipal Bonds** | **Total Municipal Bonds** | 38598760 |
|  | (Cost $37,419,786) | (Cost $37,419,786) | (Cost $37,419,786) |  |
| **U.S. GOVERNMENT AGENCY SECURITIES — 0.9%** | **U.S. GOVERNMENT AGENCY SECURITIES — 0.9%** | **U.S. GOVERNMENT AGENCY SECURITIES — 0.9%** | **U.S. GOVERNMENT AGENCY SECURITIES — 0.9%** | **U.S. GOVERNMENT AGENCY SECURITIES — 0.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp; 14121000 | Tennessee Valley Authority  | 5.25% | 02/01/55 | 14283078 |
|  | (Cost $13,961,800) |  |  |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**October 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **EXCHANGE-TRADED FUNDS — 0.0%** | **EXCHANGE-TRADED FUNDS — 0.0%** | **EXCHANGE-TRADED FUNDS — 0.0%** |
|  | **Capital Markets — 0.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20000 | First Trust AAA CMBS ETF (l) | $410202 |
|  | (Cost $407,187) |  |
| **MONEY MARKET FUNDS — 1.2%** | **MONEY MARKET FUNDS — 1.2%** | **MONEY MARKET FUNDS — 1.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp; 20140682 | Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class - 3.94% (m) | 20140682 |
|  | (Cost $20,140,682) |  |
|  | **Total Investments — 101.3%** | 1627695263 |
|  | (Cost $1,599,730,967) |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Number of** <br>**Contracts**<br>| **Description** | **Notional** <br>**Amount**<br>| **Exercise** <br>**Price**<br>| **Expiration** <br>**Date**<br>| **Value** |
| **PURCHASED OPTIONS — 0.0%** | **PURCHASED OPTIONS — 0.0%** | **PURCHASED OPTIONS — 0.0%** | **PURCHASED OPTIONS — 0.0%** | **PURCHASED OPTIONS — 0.0%** | **PURCHASED OPTIONS — 0.0%** |
|  | **Call Options Purchased — 0.0%** | **Call Options Purchased — 0.0%** | **Call Options Purchased — 0.0%** | **Call Options Purchased — 0.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44 | U.S. Treasury Long Bond Futures Call  | $44000 | $124.00 | 11/21/25 | 2063 |
|  | (Cost $2,865) |  |  |  |  |
|  | **Put Options Purchased — 0.0%** | **Put Options Purchased — 0.0%** | **Put Options Purchased — 0.0%** | **Put Options Purchased — 0.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39 | U.S. Treasury Long Bond Futures Put  | 39000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 112.00 | 11/21/25 | 1828 |
|  | (Cost $23,628) |  |  |  |  |
|  | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | 3891 |
|  | (Cost $26,493) | (Cost $26,493) | (Cost $26,493) | (Cost $26,493) |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal** <br>**Value**<br>| **Description** | **Stated** <br>**Coupon**<br>| **Stated** <br>**Maturity**<br>| **Value** |
| **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES SOLD SHORT — (1.5)%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES SOLD SHORT — (1.5)%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES SOLD SHORT — (1.5)%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES SOLD SHORT — (1.5)%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES SOLD SHORT — (1.5)%** |
|  | **Pass-Through Securities — (1.5)%** | **Pass-Through Securities — (1.5)%** | **Pass-Through Securities — (1.5)%** |  |
|  | Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |  |
| $(14999000) | &nbsp;&nbsp;&nbsp; Pool TBA (g) | 3.00% | 12/15/55 | (13290520)<br>|
| &nbsp;&nbsp;&nbsp; (2049000) | &nbsp;&nbsp;&nbsp; Pool TBA (g) | 3.50% | 12/15/55 | (1887773)<br>|
| &nbsp;&nbsp;&nbsp; (7235000) | &nbsp;&nbsp;&nbsp; Pool TBA (g) | 4.50% | 12/15/55 | (7048843)<br>|
| &nbsp;&nbsp;&nbsp; (2048000) | &nbsp;&nbsp;&nbsp; Pool TBA (g) | 3.50% | 01/15/56 | (1887331)<br>|
|  | **Total Investments Sold Short — (1.5)%** | **Total Investments Sold Short — (1.5)%** | **Total Investments Sold Short — (1.5)%** | (24114467)<br>|
|  | (Proceeds $24,072,413) | (Proceeds $24,072,413) | (Proceeds $24,072,413) |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Number of** <br>**Contracts**<br>| **Description** | **Notional** <br>**Amount**<br>| **Exercise** <br>**Price**<br>| **Expiration** <br>**Date**<br>| **Value** |
| **WRITTEN OPTIONS — (0.1)%** | **WRITTEN OPTIONS — (0.1)%** | **WRITTEN OPTIONS — (0.1)%** | **WRITTEN OPTIONS — (0.1)%** | **WRITTEN OPTIONS — (0.1)%** | **WRITTEN OPTIONS — (0.1)%** |
|  | **Call Options Written — (0.1)%** | **Call Options Written — (0.1)%** | **Call Options Written — (0.1)%** | **Call Options Written — (0.1)%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (118) | 3 Month SOFR Futures Call  | $(28557475)<br>| $97.50 | 12/10/27 | (62688)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (12) | U.S. 2-Year Treasury Futures Call  | (2498906)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 104.25 | 11/21/25 | (1875)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (20) | U.S. 5-Year Treasury Futures Call  | (2184219)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 109.00 | 11/21/25 | (8281)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (37) | U.S. 5-Year Treasury Futures Call  | (4042828)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 111.50 | 02/20/26 | (6648)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (14) | U.S. 5-Year Treasury Futures Call  | (1529719)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 112.00 | 02/20/26 | (1859)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (29) | U.S. 10-Year Treasury Futures Call  | (3267484)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 112.00 | 11/21/25 | (25375)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (27) | U.S. 10-Year Treasury Futures Call  | (3042141)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 115.00 | 11/21/25 | (844)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8) | U.S. 10-Year Treasury Futures Call  | (901375)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 116.00 | 11/21/25 | (125)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (237) | U.S. 10-Year Treasury Futures Call  | (26688422)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 115.00 | 02/20/26 | (99984)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (65) | U.S. 10-Year Treasury Futures Call  | (7319609)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 116.00 | 02/20/26 | (18281)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (131) | U.S. 10-Year Treasury Futures Call  | (14751828)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 118.00 | 02/20/26 | (16375)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (12) | U.S. 10-Year Treasury Futures Call  | (1349625)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 115.00 | 05/22/26 | (9375)<br>|

---

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**October 31, 2025 (Unaudited)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Number of**<br> **Contracts**<br>| **Description** | **Notional**<br> **Amount**<br>| **Exercise**<br> **Price**<br>| **Expiration**<br> **Date**<br>| **Value** |
| **WRITTEN OPTIONS (Continued)** | **WRITTEN OPTIONS (Continued)** | **WRITTEN OPTIONS (Continued)** | **WRITTEN OPTIONS (Continued)** | **WRITTEN OPTIONS (Continued)** | **WRITTEN OPTIONS (Continued)** |
|  | **Call Options Written (Continued)** | **Call Options Written (Continued)** | **Call Options Written (Continued)** | **Call Options Written (Continued)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (32) | U.S. Treasury Long Bond Futures Call  | $(3754000)<br>| $116.00 | 11/21/25 | $(55500)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (104) | U.S. Treasury Long Bond Futures Call  | (12200500)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 118.00 | 11/21/25 | (65000)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (165) | U.S. Treasury Long Bond Futures Call  | (19356562)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 120.00 | 11/21/25 | (30938)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (18) | U.S. Treasury Long Bond Futures Call  | (2111625)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 121.00 | 11/21/25 | (1969)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (129) | U.S. Treasury Long Bond Futures Call  | (15133313)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 122.00 | 11/21/25 | (10078)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8) | U.S. Treasury Long Bond Futures Call  | (938500)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125.00 | 11/21/25 | (250)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2) | U.S. Treasury Long Bond Futures Call  | (234625)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 126.00 | 11/21/25 | (63)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7) | U.S. Treasury Long Bond Futures Call  | (821188)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 128.00 | 11/21/25 | (0)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9) | U.S. Treasury Long Bond Futures Call  | (1053281)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 122.00 | 02/20/26 | (7313)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (69) | U.S. Treasury Long Bond Futures Call  | (8075156)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 123.00 | 02/20/26 | (45281)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (131) | U.S. Treasury Long Bond Futures Call  | (15331094)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 124.00 | 02/20/26 | (67547)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (77) | U.S. Treasury Long Bond Futures Call  | (9011406)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 126.00 | 02/20/26 | (26469)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (17) | U.S. Treasury Long Bond Futures Call  | (1984219)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 128.00 | 05/22/26 | (10359)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (32) | Ultra U.S. 10-Year Treasury Futures Call  | (3697500)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 115.00 | 11/21/25 | (27500)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6) | Ultra U.S. 10-Year Treasury Futures Call  | (693281)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 118.00 | 11/21/25 | (375)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7) | Ultra U.S. 10-Year Treasury Futures Call  | (808828)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 120.00 | 11/21/25 | (109)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (16) | Ultra U.S. Treasury Long Bond Futures Call  | (1940500)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 119.00 | 11/21/25 | (43000)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (49) | Ultra U.S. Treasury Long Bond Futures Call  | (5942781)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 124.00 | 11/21/25 | (16844)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (19) | Ultra U.S. Treasury Long Bond Futures Call  | (2304344)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125.00 | 11/21/25 | (3859)<br>|
|  | **Total Call Options Written** | **Total Call Options Written** | **Total Call Options Written** | **Total Call Options Written** | (664164)<br>|
|  | (Premiums received $1,279,351) | (Premiums received $1,279,351) | (Premiums received $1,279,351) | (Premiums received $1,279,351) |  |
|  | **Put Options Written — (0.0)%** | **Put Options Written — (0.0)%** | **Put Options Written — (0.0)%** | **Put Options Written — (0.0)%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (118) | 3 Month SOFR Futures Put  | (28557475)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95.50 | 12/10/27 | (36137)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (194) | U.S. 2-Year Treasury Futures Put  | (40398984)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 103.00 | 11/21/25 | (0)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (18) | U.S. 2-Year Treasury Futures Put  | (3748359)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 103.25 | 11/21/25 | (0)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (68) | U.S. 2-Year Treasury Futures Put  | (14160469)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 103.50 | 11/21/25 | (1063)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (47) | U.S. 2-Year Treasury Futures Put  | (9787383)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 103.88 | 11/21/25 | (3672)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (33) | U.S. 2-Year Treasury Futures Put  | (6882305)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 103.75 | 02/20/26 | (7734)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (35) | U.S. 5-Year Treasury Futures Put  | (3822383)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 106.00 | 11/21/25 | (0)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (74) | U.S. 5-Year Treasury Futures Put  | (8081609)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 106.50 | 11/21/25 | (0)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (10) | U.S. 5-Year Treasury Futures Put  | (1092656)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 107.50 | 02/20/26 | (1875)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (44) | U.S. 5-Year Treasury Futures Put  | (4808375)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 108.00 | 05/22/26 | (24062)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (30) | U.S. 10-Year Treasury Futures Put  | (3380156)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 107.00 | 11/21/25 | (0)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4) | U.S. 10-Year Treasury Futures Put  | (450688)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 107.50 | 11/21/25 | (0)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (37) | U.S. 10-Year Treasury Futures Put  | (4168859)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 108.00 | 11/21/25 | (0)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (28) | U.S. 10-Year Treasury Futures Put  | (3153063)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 109.00 | 02/20/26 | (5688)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (40) | U.S. 10-Year Treasury Futures Put  | (4504375)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 110.00 | 02/20/26 | (13750)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (40) | U.S. 10-Year Treasury Futures Put  | (4504375)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 111.00 | 02/20/26 | (23125)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (12) | U.S. Treasury Long Bond Futures Put  | (1407750)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 98.00 | 11/21/25 | (0)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (31) | U.S. Treasury Long Bond Futures Put  | (3636687)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 99.00 | 11/21/25 | (0)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (10) | U.S. Treasury Long Bond Futures Put  | (1173125)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 103.00 | 11/21/25 | (0)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8) | U.S. Treasury Long Bond Futures Put  | (938500)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 105.00 | 11/21/25 | (0)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4) | U.S. Treasury Long Bond Futures Put  | (469250)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 106.00 | 11/21/25 | (63)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (66) | U.S. Treasury Long Bond Futures Put  | (7724062)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 108.00 | 02/20/26 | (19594)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (136) | U.S. Treasury Long Bond Futures Put  | (15916250)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 110.00 | 02/20/26 | (63750)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (10) | U.S. Treasury Long Bond Futures Put  | (1170313)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 111.00 | 02/20/26 | (5938)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (72) | U.S. Treasury Long Bond Futures Put  | (8426250)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 112.00 | 02/20/26 | (55125)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9) | U.S. Treasury Long Bond Futures Put  | (1053281)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 114.00 | 02/20/26 | (11109)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (103) | U.S. Treasury Long Bond Futures Put  | (12054219)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 116.00 | 02/20/26 | (199562)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (22) | U.S. Treasury Long Bond Futures Put  | (2567813)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 114.00 | 05/22/26 | (50187)<br>|

---

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**October 31, 2025 (Unaudited)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Number of**<br> **Contracts**<br>| **Description** | **Notional**<br> **Amount**<br>| **Exercise**<br> **Price**<br>| **Expiration**<br> **Date**<br>| **Value** |
| **WRITTEN OPTIONS (Continued)** | **WRITTEN OPTIONS (Continued)** | **WRITTEN OPTIONS (Continued)** | **WRITTEN OPTIONS (Continued)** | **WRITTEN OPTIONS (Continued)** | **WRITTEN OPTIONS (Continued)** |
|  | **Put Options Written (Continued)** | **Put Options Written (Continued)** | **Put Options Written (Continued)** | **Put Options Written (Continued)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5) | Ultra U.S. 10-Year Treasury Futures Put  | $(577734)<br>| $112.00 | 11/21/25 | $(156)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (18) | Ultra U.S. Treasury Long Bond Futures Put  | (2183063)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 110.00 | 11/21/25 | (844)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3) | Ultra U.S. Treasury Long Bond Futures Put  | (363844)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 112.00 | 11/21/25 | (141)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) | Ultra U.S. Treasury Long Bond Futures Put  | (121281)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 113.00 | 11/21/25 | (47)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2) | Ultra U.S. Treasury Long Bond Futures Put  | (241938)<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 116.00 | 02/20/26 | (2656)<br>|
|  | **Total Put Options Written** | **Total Put Options Written** | **Total Put Options Written** | **Total Put Options Written** | (526278)<br>|
|  | (Premiums received $1,326,329) | (Premiums received $1,326,329) | (Premiums received $1,326,329) | (Premiums received $1,326,329) |  |
|  | **Total Written Options** | **Total Written Options** | **Total Written Options** | **Total Written Options** | (1190442)<br>|
|  | (Premiums received $2,605,680) | (Premiums received $2,605,680) | (Premiums received $2,605,680) | (Premiums received $2,605,680) |  |
|  | **Net Other Assets and Liabilities — 0.3%** | **Net Other Assets and Liabilities — 0.3%** | **Net Other Assets and Liabilities — 0.3%** | **Net Other Assets and Liabilities — 0.3%** | 4345948 |
|  | **Net Assets — 100.0%** | **Net Assets — 100.0%** | **Net Assets — 100.0%** | **Net Assets — 100.0%** | $1606740193 |

---

**Futures Contracts at October 31, 2025:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Futures Contracts Long** | **Number of** <br>**Contracts**<br>| **Expiration** <br>**Date**<br>| **Notional** <br>**Value**<br>| **Unrealized** <br>**Appreciation** <br>**(Depreciation)/** <br>**Value**<br>|
| U.S. 2-Year Treasury Notes | 1403 | Dec-2025 | &nbsp;&nbsp; $292163790 | &nbsp;&nbsp; $(193538)<br>|
| U.S. 5-Year Treasury Notes | 807 | Dec-2025 | &nbsp;&nbsp; 88133227 | &nbsp;&nbsp; (122203)<br>|
| U.S. 10-Year Treasury Notes | 532 | Dec-2025 | &nbsp;&nbsp; 59941437 | &nbsp;&nbsp; (148140)<br>|
| U.S. Treasury Long Bond Futures | 257 | Dec-2025 | &nbsp;&nbsp; 30149313 | &nbsp;&nbsp; 423811 |
| Ultra U.S. Treasury Bond Futures | 217 | Dec-2025 | &nbsp;&nbsp; 26318031 | &nbsp;&nbsp; 748704 |
|  |  |  | &nbsp;&nbsp; $496705798 | &nbsp;&nbsp; $708634 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Futures Contracts Short** |  |  |  |  |
| Ultra U.S. 10-Year Treasury Notes | 1039 | Dec-2025 | &nbsp;&nbsp; $(119988266)<br>| &nbsp;&nbsp; $(631555)<br>|
|  |  | &nbsp;&nbsp; Total | &nbsp;&nbsp; $376717532 | &nbsp;&nbsp; $77079 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Floating or variable rate security.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Zero coupon security.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Inverse floating rate security.

&nbsp;&nbsp;&nbsp;&nbsp;(d) 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, 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 October 31, 2025, securities noted as such amounted to $432,788,555
 or 26.9% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Weighted Average Coupon security. Coupon is based on the blended interest rate of
 the underlying holdings, which may have different coupons. The coupon may change in any period.

&nbsp;&nbsp;&nbsp;&nbsp;(f) Collateral Strip Rate security. Coupon is based on the weighted net interest rate of the investment's underlying collateral. The interest rate resets periodically.

&nbsp;&nbsp;&nbsp;&nbsp;(g) All or a portion of this security is part of a mortgage dollar roll agreement.

&nbsp;&nbsp;&nbsp;&nbsp;(h) Security whose principal value is adjusted in accordance with changes to the country's Consumer Price Index. Interest is calculated on the basis of the current adjusted principal value.

&nbsp;&nbsp;&nbsp;&nbsp;(i) Fixed-to-floating or fixed-to-variable rate security. The interest rate shown reflects
 the fixed rate in effect at October 31, 2025. At a predetermined date, the fixed rate will change to a floating rate or a variable
 rate.

&nbsp;&nbsp;&nbsp;&nbsp;(j) When-issued security. The interest rate shown reflects the rate in effect at October
 31, 2025. Interest will begin accruing on the security's first settlement date.

&nbsp;&nbsp;&nbsp;&nbsp;(k) Step-up security. A security where the coupon increases or steps up at a predetermined
 date.

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**October 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(l) Investment in an affiliated fund.

&nbsp;&nbsp;&nbsp;&nbsp;(m) Rate shown reflects yield as of October 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| Abbreviations throughout the Portfolio of Investments: | Abbreviations throughout the Portfolio of Investments: |
| AMT | – Alternative Minimum Tax |
| CME | – Chicago Mercantile Exchange |
| CSA | – Credit Spread Adjustment |
| IO | – Interest-Only Security - Principal amount shown represents par value on which interest payments are based |
| PO | – Principal-Only Security |
| REMIC | – Real Estate Mortgage Investment Conduit |
| SOFR | – Secured Overnight Financing Rate |
| STACR | – Structured Agency Credit Risk |
| STRIPS | – Separate Trading of Registered Interest and Principal of Securities |
| TBA | – To-Be-Announced Security |

---

------

**Valuation Inputs**

A summary of the inputs used to value the Fund's investments as of October 31, 2025 is as follows (see Valuation Inputs in the Additional Information section):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** |
|  | **Total** <br>**Value at** <br>**10/31/2025**<br>| &nbsp;&nbsp;&nbsp; **Level 1** <br>**Quoted** <br>**Prices**<br>| &nbsp;&nbsp;&nbsp; **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| &nbsp;&nbsp;&nbsp; **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| &nbsp;&nbsp; U.S. Government Agency Mortgage-Backed <br> Securities<br>| &nbsp;&nbsp; $565901173 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $565901173 | &nbsp;&nbsp;&nbsp;&nbsp; $— |
| U.S. Government Bonds and Notes | &nbsp;&nbsp; 312669578 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 312669578 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Corporate Bonds and Notes\* | &nbsp;&nbsp; 301998704 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 301998704 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Mortgage-Backed Securities | &nbsp;&nbsp; 235018878 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 235018878 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Asset-Backed Securities | &nbsp;&nbsp; 82815043 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 82815043 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Foreign Corporate Bonds and Notes\* | &nbsp;&nbsp; 55859165 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 55859165 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Municipal Bonds\*\* | &nbsp;&nbsp; 38598760 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 38598760 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| U.S. Government Agency Securities | &nbsp;&nbsp; 14283078 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 14283078 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Exchange-Traded Funds\* | &nbsp;&nbsp; 410202 | &nbsp;&nbsp;&nbsp;&nbsp; 410202 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Money Market Funds | &nbsp;&nbsp; 20140682 | &nbsp;&nbsp;&nbsp;&nbsp; 20140682 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Total Investments | &nbsp;&nbsp; 1627695263 | &nbsp;&nbsp;&nbsp;&nbsp; 20550884 | &nbsp;&nbsp;&nbsp;&nbsp; 1607144379 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Purchased Options | &nbsp;&nbsp; 3891 | &nbsp;&nbsp;&nbsp;&nbsp; 3891 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Futures Contracts | &nbsp;&nbsp; 1172515 | &nbsp;&nbsp;&nbsp;&nbsp; 1172515 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Total | &nbsp;&nbsp; $1628871669 | &nbsp;&nbsp;&nbsp;&nbsp; $21727290 | &nbsp;&nbsp;&nbsp;&nbsp; $1607144379 | &nbsp;&nbsp;&nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** |
|  | **Total** <br>**Value at** <br>**10/31/2025**<br>| &nbsp;&nbsp;&nbsp; **Level 1** <br>**Quoted** <br>**Prices**<br>| &nbsp;&nbsp;&nbsp; **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| &nbsp;&nbsp;&nbsp; **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| &nbsp;&nbsp; U.S. Government Agency Mortgage-Backed Securities <br> Sold Short<br>| &nbsp;&nbsp; $(24114467)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(24114467)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— |
| Written Options | &nbsp;&nbsp; (1190442)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1190442)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Futures Contracts | &nbsp;&nbsp; (1095436)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1095436)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Total | &nbsp;&nbsp; $(26400345)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(2285878)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(24114467)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

\* See Portfolio of Investments for industry breakout. <br> \*\* See Portfolio of Investments for state breakout.

------

**First Trust Core Investment Grade ETF (FTCB)**

**Portfolio of Investments (Continued)**

**October 31, 2025 (Unaudited)**

------

**Affiliated Transactions**

Amounts relating to investments in affiliated funds at October 31, 2025, and for the fiscal year-to-date period (August 1, 2025 to October 31, 2025) are as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Security Name | Shares at <br>10/31/2025<br>| Value at <br>7/31/2025<br>| Purchases | Sales | Change in <br>Unrealized <br>Appreciation <br>(Depreciation)<br>| Realized <br>Gain <br>(Loss)<br>| Value at <br>10/31/2025<br>| Dividend <br>Income<br>|
| First Trust AAA CMBS ETF\* | 20000 | $406700 | $— | $— | $3502 | $— | $410202 | $5400 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>\*</sup> Formerly known as First Trust Commercial Mortgage Opportunities ETF.

------

**First Trust AAA CMBS ETF (CAAA)**

**Portfolio of Investments**

**October 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal** <br>**Value**<br>| **Description** | **Stated** <br>**Coupon**<br>| **Stated** <br>**Maturity**<br>| **Value** |
| **MORTGAGE-BACKED SECURITIES — 95.2%** | **MORTGAGE-BACKED SECURITIES — 95.2%** | **MORTGAGE-BACKED SECURITIES — 95.2%** | **MORTGAGE-BACKED SECURITIES — 95.2%** | **MORTGAGE-BACKED SECURITIES — 95.2%** |
|  | **Commercial Mortgage-Backed Securities — 95.2%** | **Commercial Mortgage-Backed Securities — 95.2%** | **Commercial Mortgage-Backed Securities — 95.2%** |  |
|  | 2023-MIC Trust (The) | 2023-MIC Trust (The) | 2023-MIC Trust (The) | 2023-MIC Trust (The) |
| $530000 | &nbsp;&nbsp;&nbsp; Series 2023-MIC, Class A (a) (b) | 8.44% | 12/05/38 | $573894 |
|  | Arbor Multifamily Mortgage Securities Trust | Arbor Multifamily Mortgage Securities Trust | Arbor Multifamily Mortgage Securities Trust | Arbor Multifamily Mortgage Securities Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 390000 | &nbsp;&nbsp;&nbsp; Series 2020-MF1, Class A4 (a) | 2.50% | 05/15/53 | 363745 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp; Series 2020-MF1, Class AS (a) | 3.06% | 05/15/53 | 139981 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 390000 | &nbsp;&nbsp;&nbsp; Series 2021-MF2, Class A4 (a) | 2.25% | 06/15/54 | 348999 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3791000 | &nbsp;&nbsp;&nbsp; Series 2021-MF3, Class XB, IO (a) (b) | 0.49% | 10/15/54 | 101384 |
|  | BANK | BANK | BANK | BANK |
| &nbsp;&nbsp;&nbsp;&nbsp; 2876164 | &nbsp;&nbsp;&nbsp; Series 2018-BN10, Class XA, IO (b) | 0.68% | 02/15/61 | 36754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 274038 | &nbsp;&nbsp;&nbsp; Series 2018-BN13, Class A4 | 3.95% | 08/15/61 | 271997 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7513815 | &nbsp;&nbsp;&nbsp; Series 2019-BN19, Class XA, IO (b) | 0.93% | 08/15/61 | 219093 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3097992 | &nbsp;&nbsp;&nbsp; Series 2019-BN21, Class XA, IO (b) | 0.83% | 10/17/52 | 79721 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4104920 | &nbsp;&nbsp;&nbsp; Series 2019-BNK23, Class XA, IO (b) | 0.68% | 12/15/52 | 95480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 542000 | &nbsp;&nbsp;&nbsp; Series 2020-BN25, Class A5 | 2.65% | 01/15/63 | 502407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 325000 | &nbsp;&nbsp;&nbsp; Series 2020-BN26, Class A3 | 2.16% | 03/15/63 | 296658 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500170 | &nbsp;&nbsp;&nbsp; Series 2020-BN29, Class A4 | 2.00% | 11/15/53 | 438049 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp; Series 2020-BN30, Class A4 | 1.93% | 12/15/53 | 307672 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2395968 | &nbsp;&nbsp;&nbsp; Series 2020-BNK26, Class XA, IO (b) | 1.19% | 03/15/63 | 92123 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7500000 | &nbsp;&nbsp;&nbsp; Series 2021-BN31, Class XB, IO (b) | 0.87% | 02/15/54 | 298001 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 318750 | &nbsp;&nbsp;&nbsp; Series 2021-BN33, Class A5 | 2.56% | 05/15/64 | 287937 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8576372 | &nbsp;&nbsp;&nbsp; Series 2023-BNK46, Class XA, IO (b) | 0.62% | 08/15/56 | 293123 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5174324 | &nbsp;&nbsp;&nbsp; Series 2025-BNK49, Class XA, IO (b) | 0.63% | 03/15/58 | 243742 |
|  | BBCMS Mortgage Trust | BBCMS Mortgage Trust | BBCMS Mortgage Trust | BBCMS Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 268000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-TALL, Class A, 1 Mo. CME Term SOFR + CSA + <br> 0.87% (a) (c) | 4.95% | 03/15/37 | 253068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 550000 | &nbsp;&nbsp;&nbsp; Series 2020-C8, Class A5 | 2.04% | 10/15/53 | 486939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp; Series 2022-C16, Class A5 | 4.60% | 06/15/55 | 298431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp; Series 2022-C18, Class A5 | 5.71% | 12/15/55 | 318951 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5796533 | &nbsp;&nbsp;&nbsp; Series 2025-C35, Class XA, IO (b) | 0.65% | 07/15/58 | 297527 |
|  | Benchmark Mortgage Trust | Benchmark Mortgage Trust | Benchmark Mortgage Trust | Benchmark Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 329000 | &nbsp;&nbsp;&nbsp; Series 2020-B18, Class A5 | 1.93% | 07/15/53 | 290856 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; Series 2021-B25, Class A4 | 2.27% | 04/15/54 | 455911 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 425000 | &nbsp;&nbsp;&nbsp; Series 2023-B40, Class ASB | 6.25% | 12/15/56 | 462532 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2443398 | &nbsp;&nbsp;&nbsp; Series 2024-V6, Class XA, IO (b) | 1.34% | 03/15/57 | 97247 |
|  | BMO Mortgage Trust | BMO Mortgage Trust | BMO Mortgage Trust | BMO Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp; Series 2023-C5, Class ASB | 5.99% | 06/15/56 | 274586 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 235000 | &nbsp;&nbsp;&nbsp; Series 2023-C6, Class ASB | 6.21% | 09/15/56 | 252577 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; Series 2024-C9, Class A5 | 5.76% | 07/15/57 | 266855 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp; Series 2024-C9, Class ASB | 5.77% | 07/15/57 | 319314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp; Series 2025-C12, Class ASB | 5.76% | 06/15/58 | 372433 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3670000 | &nbsp;&nbsp;&nbsp; Series 2025-C13, Class XA, IO (b) | 1.22% | 10/15/58 | 290329 |
|  | BPR Mortgage Trust | BPR Mortgage Trust | BPR Mortgage Trust | BPR Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; Series 2023-STON, Class A (a) | 7.50% | 12/05/39 | 260713 |
|  | BPR Trust | BPR Trust | BPR Trust | BPR Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 68794 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-WILL, Class A, 1 Mo. CME Term SOFR + CSA + <br> 1.75% (a) (c) | 5.90% | 06/15/38 | 69147 |
|  | BSTN Commercial Mortgage Trust | BSTN Commercial Mortgage Trust | BSTN Commercial Mortgage Trust | BSTN Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 550000 | &nbsp;&nbsp;&nbsp; Series 2025-1C, Class A (a) (b) | 5.37% | 06/15/44 | 567930 |
|  | BWAY Trust | BWAY Trust | BWAY Trust | BWAY Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 415000 | &nbsp;&nbsp;&nbsp; Series 2025-1535, Class A (a) (b) | 6.31% | 05/05/42 | 430843 |

---

------

**First Trust AAA CMBS ETF (CAAA)**

**Portfolio of Investments (Continued)**

**October 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** |
|  | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** |  |
|  | BX Commercial Mortgage Trust | BX Commercial Mortgage Trust | BX Commercial Mortgage Trust | BX Commercial Mortgage Trust |
| $489000 | &nbsp;&nbsp;&nbsp; Series 2020-VIV4, Class A (a) | 2.84% | 03/09/44 | $453146 |
|  | BX Trust | BX Trust | BX Trust | BX Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 370000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-ARIA, Class A, 1 Mo. CME Term SOFR + CSA + <br> 0.90% (a) (c) | 5.05% | 10/15/36 | 369523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-GW, Class A, 1 Mo. CME Term SOFR + <br> 1.60% (a) (c) | 5.63% | 07/15/42 | 260751 |
|  | Cali Mortgage Trust | Cali Mortgage Trust | Cali Mortgage Trust | Cali Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 134000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-SUN, Class A, 1 Mo. CME Term SOFR + <br> 1.89% (a) (c) | 5.97% | 07/15/41 | 134375 |
|  | Cantor Commercial Real Estate Lending | Cantor Commercial Real Estate Lending | Cantor Commercial Real Estate Lending | Cantor Commercial Real Estate Lending |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 359555 | &nbsp;&nbsp;&nbsp; Series 2019-CF1, Class A2 | 3.62% | 05/15/52 | 352042 |
|  | CENT | CENT | CENT | CENT |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 550000 | &nbsp;&nbsp;&nbsp; Series 2025-CITY, Class A (a) (b) | 4.92% | 07/10/40 | 557588 |
|  | CFCRE Commercial Mortgage Trust | CFCRE Commercial Mortgage Trust | CFCRE Commercial Mortgage Trust | CFCRE Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 7533188 | &nbsp;&nbsp;&nbsp; Series 2017-C8, Class XA, IO (b) | 1.47% | 06/15/50 | 110969 |
|  | CHI Commercial Mortgage Trust | CHI Commercial Mortgage Trust | CHI Commercial Mortgage Trust | CHI Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 270000 | &nbsp;&nbsp;&nbsp; Series 2025-SFT, Class A (a) (b) | 5.48% | 04/15/42 | 277378 |
|  | Citigroup Commercial Mortgage Trust | Citigroup Commercial Mortgage Trust | Citigroup Commercial Mortgage Trust | Citigroup Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 402387 | &nbsp;&nbsp;&nbsp; Series 2019-GC43, Class AAB | 2.96% | 11/10/52 | 391974 |
|  | Credit Suisse Mortgage Trust | Credit Suisse Mortgage Trust | Credit Suisse Mortgage Trust | Credit Suisse Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 375000 | &nbsp;&nbsp;&nbsp; Series 2019-UVIL, Class A (a) | 3.16% | 12/15/41 | 353081 |
|  | CSAIL Commercial Mortgage Trust | CSAIL Commercial Mortgage Trust | CSAIL Commercial Mortgage Trust | CSAIL Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 226000 | &nbsp;&nbsp;&nbsp; Series 2015-C3, Class B (b) | 3.81% | 08/15/48 | 212235 |
|  | Deutsche Bank Commercial Mortgage Trust | Deutsche Bank Commercial Mortgage Trust | Deutsche Bank Commercial Mortgage Trust | Deutsche Bank Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp; Series 2020-C9, Class A5 | 1.93% | 08/15/53 | 267478 |
|  | GS Mortgage Securities Trust | GS Mortgage Securities Trust | GS Mortgage Securities Trust | GS Mortgage Securities Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 304877 | &nbsp;&nbsp;&nbsp; Series 2017-GS6, Class A2 | 3.16% | 05/10/50 | 299527 |
| &nbsp;&nbsp;&nbsp;&nbsp; 8463918 | &nbsp;&nbsp;&nbsp; Series 2019-GC39, Class XA, IO (b) | 1.08% | 05/10/52 | 272103 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp; Series 2024-FAIR, Class A (a) (b) | 5.88% | 07/15/29 | 308898 |
|  | Hawaii Hotel Trust | Hawaii Hotel Trust | Hawaii Hotel Trust | Hawaii Hotel Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 257500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-MAUI, Class A, 1 Mo. CME Term SOFR + <br> 1.39% (a) (c) | 5.43% | 03/15/42 | 258003 |
|  | Hilton USA Trust | Hilton USA Trust | Hilton USA Trust | Hilton USA Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NVIL, Class A, 1 Mo. CME Term SOFR + <br> 1.74% (a) (c) | 5.78% | 07/15/42 | 301633 |
|  | Houston Galleria Mall Trust | Houston Galleria Mall Trust | Houston Galleria Mall Trust | Houston Galleria Mall Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 280000 | &nbsp;&nbsp;&nbsp; Series 2025-HGLR, Class A (a) (b) | 5.46% | 02/05/45 | 291317 |
|  | ILPT Trust | ILPT Trust | ILPT Trust | ILPT Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 225000 | &nbsp;&nbsp;&nbsp; Series 2019-SURF, Class A (a) | 4.15% | 02/11/41 | 221004 |
|  | INT Commercial Mortgage Trust | INT Commercial Mortgage Trust | INT Commercial Mortgage Trust | INT Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; Series 2025-PLAZA, Class A (a) (b) (d) | 0.00% | 11/05/37 | 500127 |
|  | IRV Trust | IRV Trust | IRV Trust | IRV Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp; Series 2025-200P, Class A (a) (b) | 5.29% | 03/14/47 | 102791 |
|  | JPMorgan Chase Commercial Mortgage Securities Trust | JPMorgan Chase Commercial Mortgage Securities Trust | JPMorgan Chase Commercial Mortgage Securities Trust | JPMorgan Chase Commercial Mortgage Securities Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 7606698 | &nbsp;&nbsp;&nbsp; Series 2019-COR5, Class XA, IO (b) | 1.44% | 06/13/52 | 283994 |
|  | JW Trust | JW Trust | JW Trust | JW Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-BERY, Class A, 1 Mo. CME Term SOFR + <br> 1.59% (a) (c) | 5.63% | 11/15/39 | 260615 |

---

------

**First Trust AAA CMBS ETF (CAAA)**

**Portfolio of Investments (Continued)**

**October 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** |
|  | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** |  |
|  | Manhattan West Mortgage Trust | Manhattan West Mortgage Trust | Manhattan West Mortgage Trust | Manhattan West Mortgage Trust |
| $287000 | &nbsp;&nbsp;&nbsp; Series 2020-1MW, Class A (a) | 2.13% | 09/10/39 | $274247 |
|  | Morgan Stanley Capital I Trust | Morgan Stanley Capital I Trust | Morgan Stanley Capital I Trust | Morgan Stanley Capital I Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 290000 | &nbsp;&nbsp;&nbsp; Series 2018-L1, Class A3 | 4.14% | 10/15/51 | 289399 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 310015 | &nbsp;&nbsp;&nbsp; Series 2019-L2, Class A3 | 3.81% | 03/15/52 | 302545 |
| &nbsp;&nbsp;&nbsp;&nbsp; 12254797 | &nbsp;&nbsp;&nbsp; Series 2019-L2, Class XA, IO (b) | 0.99% | 03/15/52 | 333956 |
|  | MSWF Commercial Mortgage Trust | MSWF Commercial Mortgage Trust | MSWF Commercial Mortgage Trust | MSWF Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 5346139 | &nbsp;&nbsp;&nbsp; Series 2023-1, Class XA, IO (b) | 0.86% | 05/15/56 | 268345 |
|  | NRTH Commercial Mortgage Trust | NRTH Commercial Mortgage Trust | NRTH Commercial Mortgage Trust | NRTH Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 275000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-PARK, Class A, 1 Mo. CME Term SOFR + <br> 1.39% (a) (c) | 5.54% | 10/15/40 | 275496 |
|  | NY Commercial Mortgage Trust | NY Commercial Mortgage Trust | NY Commercial Mortgage Trust | NY Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; Series 2025-299P, Class A (a) (b) | 5.66% | 02/10/47 | 526281 |
|  | NYO Commercial Mortgage Trust | NYO Commercial Mortgage Trust | NYO Commercial Mortgage Trust | NYO Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 375000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1290, Class A, 1 Mo. CME Term SOFR + CSA + <br> 1.10% (a) (c) | 5.24% | 11/15/38 | 373665 |
|  | SFO Commercial Mortgage Trust | SFO Commercial Mortgage Trust | SFO Commercial Mortgage Trust | SFO Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 319200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-555, Class A, 1 Mo. CME Term SOFR + CSA + <br> 1.15% (a) (c) | 5.30% | 05/15/38 | 317351 |
|  | SKY Trust | SKY Trust | SKY Trust | SKY Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 277646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-LINE, Class A, 1 Mo. CME Term SOFR + <br> 2.59% (a) (c) | 6.62% | 04/15/42 | 279661 |
|  | SLG Office Trust | SLG Office Trust | SLG Office Trust | SLG Office Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 323000 | &nbsp;&nbsp;&nbsp; Series 2021-OVA, Class A (a) | 2.59% | 07/15/41 | 288519 |
|  | TEXAS Commercial Mortgage Trust | TEXAS Commercial Mortgage Trust | TEXAS Commercial Mortgage Trust | TEXAS Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-TWR, Class A, 1 Mo. CME Term SOFR + <br> 1.29% (a) (c) | 5.33% | 04/15/42 | 499709 |
|  | VRTX Trust | VRTX Trust | VRTX Trust | VRTX Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; Series 2025-HQ, Class A (a) (b) | 4.93% | 08/05/42 | 504514 |
|  | Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 375000 | &nbsp;&nbsp;&nbsp; Series 2018-C47, Class A4 | 4.44% | 09/15/61 | 376321 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 76100 | &nbsp;&nbsp;&nbsp; Series 2018-C47, Class AS | 4.67% | 09/15/61 | 75697 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4107303 | &nbsp;&nbsp;&nbsp; Series 2021-C59, Class XA, IO (b) | 1.49% | 04/15/54 | 237687 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3914476 | &nbsp;&nbsp;&nbsp; Series 2021-C60, Class XA, IO (b) | 1.49% | 08/15/54 | 241704 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 380000 | &nbsp;&nbsp;&nbsp; Series 2022-C62, Class A4 | 4.00% | 04/15/55 | 364213 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-B33RP, Class A, 1 Mo. CME Term SOFR + <br> 1.35% (a) (c) | 5.38% | 08/15/42 | 350718 |
|  | WHARF Commercial Mortgage Trust | WHARF Commercial Mortgage Trust | WHARF Commercial Mortgage Trust | WHARF Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 325000 | &nbsp;&nbsp;&nbsp; Series 2025-DC, Class A (a) (b) | 5.35% | 07/15/40 | 334208 |
|  | **Total Mortgage-Backed Securities** | **Total Mortgage-Backed Securities** | **Total Mortgage-Backed Securities** | 24411737 |
|  | (Cost $24,129,177) | (Cost $24,129,177) | (Cost $24,129,177) |  |
| **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 0.8%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 0.8%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 0.8%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 0.8%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 0.8%** |
|  | **Commercial Mortgage-Backed Securities — 0.8%** | **Commercial Mortgage-Backed Securities — 0.8%** | **Commercial Mortgage-Backed Securities — 0.8%** |  |
|  | Federal Home Loan Mortgage Corporation Multiclass Certificates |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 160000 | &nbsp;&nbsp;&nbsp; Series 2020-RR05, Class X, IO | 2.01% | 01/27/29 | 8745 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp; Series 2020-RR07, Class AX, IO (e) | 2.47% | 09/27/28 | 84769 |
|  | &nbsp;&nbsp; Federal Home Loan Mortgage Corporation Multifamily Structured <br> Pass Through Certificates |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 489272 | &nbsp;&nbsp;&nbsp; Series 2016-KIR1, Class X, IO (b) (f) | 1.00% | 03/25/26 | 401 |

---

------

**First Trust AAA CMBS ETF (CAAA)**

**Portfolio of Investments (Continued)**

**October 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** |
|  | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** |  |
|  | &nbsp;&nbsp; Federal Home Loan Mortgage Corporation Multifamily Structured <br> Pass Through Certificates (Continued) |  |  |  |
| $1613748 | &nbsp;&nbsp;&nbsp; Series 2020-K122, Class X1, IO (b) | 0.87% | 11/25/30 | $58328 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1186152 | &nbsp;&nbsp;&nbsp; Series 2025-K546, Class X1, IO (b) | 0.90% | 05/25/30 | 42809 |
|  | **Total U.S. Government Agency Mortgage-Backed Securities** | **Total U.S. Government Agency Mortgage-Backed Securities** | **Total U.S. Government Agency Mortgage-Backed Securities** | 195052 |
|  | (Cost $199,677) | (Cost $199,677) | (Cost $199,677) |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **MONEY MARKET FUNDS — 3.2%** | **MONEY MARKET FUNDS — 3.2%** | **MONEY MARKET FUNDS — 3.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 834699 | Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class - 3.94% (g) | 834699 |
|  | (Cost $834,699) |  |
|  | **Total Investments — 99.2%** | 25441488 |
|  | (Cost $25,163,553) |  |
|  | **Net Other Assets and Liabilities — 0.8%** | 212716 |
|  | **Net Assets — 100.0%** | $25654204 |

---

**Futures Contracts at October 31, 2025:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Futures Contracts Long** | **Number of** <br>**Contracts**<br>| **Expiration** <br>**Date**<br>| **Notional** <br>**Value**<br>| **Unrealized** <br>**Appreciation** <br>**(Depreciation)/** <br>**Value**<br>|
| U.S. 2-Year Treasury Notes | 26 | Dec-2025 | &nbsp;&nbsp; $5414297 | &nbsp;&nbsp; $(4554)<br>|
| U.S. 10-Year Treasury Notes | 15 | Dec-2025 | &nbsp;&nbsp; 1690078 | &nbsp;&nbsp; 4787 |
| Ultra 10 Year U.S. Treasury Notes | 1 | Dec-2025 | &nbsp;&nbsp; 115485 | &nbsp;&nbsp; (31)<br>|
|  |  |  | &nbsp;&nbsp; $7219860 | &nbsp;&nbsp; $202 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Futures Contracts Short** |  |  |  |  |
| U.S. 5-Year Treasury Notes | 10 | Dec-2025 | &nbsp;&nbsp; $(1092110)<br>| &nbsp;&nbsp; $(461)<br>|
| Ultra U.S. Treasury Bond Futures | 1 | Dec-2025 | &nbsp;&nbsp; (121281)<br>| &nbsp;&nbsp; (500)<br>|
|  |  |  | &nbsp;&nbsp; $(1213391)<br>| &nbsp;&nbsp; $(961)<br>|
|  |  | &nbsp;&nbsp; Total | &nbsp;&nbsp; $6006469 | &nbsp;&nbsp; $(759)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(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, 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 "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 October 31, 2025, securities noted as such amounted to $11,784,303
 or 45.9% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Collateral Strip Rate security. Coupon is based on the weighted net interest rate of the investment's underlying collateral. The interest rate resets periodically.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Floating or variable rate security.

&nbsp;&nbsp;&nbsp;&nbsp;(d) When-issued security. The interest rate shown reflects the rate in effect at October
 31, 2025. Interest will begin accruing on the security's first settlement date.

&nbsp;&nbsp;&nbsp;&nbsp;(e) Weighted Average Coupon security. Coupon is based on the blended interest rate of
 the underlying holdings, which may have different coupons. The coupon may change in any period.

&nbsp;&nbsp;&nbsp;&nbsp;(f) Pursuant to procedures adopted by the Trust's Board of Trustees, this security has been determined to be illiquid by the Advisor.

&nbsp;&nbsp;&nbsp;&nbsp;(g) Rate shown reflects yield as of October 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

**First Trust AAA CMBS ETF (CAAA)**

**Portfolio of Investments (Continued)**

**October 31, 2025 (Unaudited)**

---

| | |
|:---|:---|
| Abbreviations throughout the Portfolio of Investments: | Abbreviations throughout the Portfolio of Investments: |
| CME | – Chicago Mercantile Exchange |
| CSA | – Credit Spread Adjustment |
| IO | – Interest-Only Security - Principal amount shown represents par value on which interest payments are based |
| SOFR | – Secured Overnight Financing Rate |

---

------

**Valuation Inputs**

A summary of the inputs used to value the Fund's investments as of October 31, 2025 is as follows (see Valuation Inputs in the Additional Information section):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** |
|  | **Total** <br>**Value at** <br>**10/31/2025**<br>| &nbsp;&nbsp;&nbsp; **Level 1** <br>**Quoted** <br>**Prices**<br>| &nbsp;&nbsp;&nbsp; **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| &nbsp;&nbsp;&nbsp; **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| Mortgage-Backed Securities | &nbsp;&nbsp; $24411737 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $24411737 | &nbsp;&nbsp;&nbsp;&nbsp; $— |
| U.S. Government Agency Mortgage-Backed Securities | &nbsp;&nbsp; 195052 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 195052 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Money Market Funds | &nbsp;&nbsp; 834699 | &nbsp;&nbsp;&nbsp;&nbsp; 834699 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Total Investments | &nbsp;&nbsp; 25441488 | &nbsp;&nbsp;&nbsp;&nbsp; 834699 | &nbsp;&nbsp;&nbsp;&nbsp; 24606789 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Futures Contracts | &nbsp;&nbsp; 4787 | &nbsp;&nbsp;&nbsp;&nbsp; 4787 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Total | &nbsp;&nbsp; $25446275 | &nbsp;&nbsp;&nbsp;&nbsp; $839486 | &nbsp;&nbsp;&nbsp;&nbsp; $24606789 | &nbsp;&nbsp;&nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** |
|  | **Total** <br>**Value at** <br>**10/31/2025**<br>| &nbsp;&nbsp;&nbsp; **Level 1** <br>**Quoted** <br>**Prices**<br>| &nbsp;&nbsp;&nbsp; **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| &nbsp;&nbsp;&nbsp; **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| Futures Contracts | &nbsp;&nbsp; $(5546)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(5546)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— |

---

------

**First Trust Structured Credit Income Opportunities ETF (SCIO)**

**Portfolio of Investments**

**October 31, 2025 (Unaudited)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal** <br>**Value**<br>| **Description** | **Stated** <br>**Coupon**<br>| **Stated** <br>**Maturity**<br>| **Value** |
| **MORTGAGE-BACKED SECURITIES — 40.6%** | **MORTGAGE-BACKED SECURITIES — 40.6%** | **MORTGAGE-BACKED SECURITIES — 40.6%** | **MORTGAGE-BACKED SECURITIES — 40.6%** | **MORTGAGE-BACKED SECURITIES — 40.6%** |
|  | **Collateralized Mortgage Obligations — 26.6%** | **Collateralized Mortgage Obligations — 26.6%** | **Collateralized Mortgage Obligations — 26.6%** |  |
|  | BRAVO | BRAVO | BRAVO | BRAVO |
| $255000 | &nbsp;&nbsp;&nbsp; Series 2024-NQM6, Class B1 (a) | 7.30% | 08/01/64 | $258806 |
|  | BRAVO Residential Funding Trust | BRAVO Residential Funding Trust | BRAVO Residential Funding Trust | BRAVO Residential Funding Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 380000 | &nbsp;&nbsp;&nbsp; Series 2024-NQM5, Class B1 (a) | 7.38% | 06/25/64 | 386396 |
|  | COLT Mortgage Loan Trust | COLT Mortgage Loan Trust | COLT Mortgage Loan Trust | COLT Mortgage Loan Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 340000 | &nbsp;&nbsp;&nbsp; Series 2021-HX1, Class B3A (a) (b) | 4.16% | 10/25/66 | 263787 |
|  | Connecticut Avenue Securities Trust | Connecticut Avenue Securities Trust | Connecticut Avenue Securities Trust | Connecticut Avenue Securities Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 475000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-R02, Class 2B2, 30 Day Average SOFR + <br> 6.20% (a) (c) | 10.38% | 11/25/41 | 496015 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 480000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-R03, Class 1B2, 30 Day Average SOFR + <br> 5.50% (a) (c) | 9.68% | 12/25/41 | 500009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 445000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-R06, Class 1B2, 30 Day Average SOFR + <br> 10.60% (a) (c) | 14.78% | 05/25/42 | 502787 |
|  | Cross Mortgage Trust | Cross Mortgage Trust | Cross Mortgage Trust | Cross Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp; Series 2025-H6, Class B1B (a) | 7.59% | 07/25/70 | 445942 |
|  | Deephaven Residential Mortgage Trust | Deephaven Residential Mortgage Trust | Deephaven Residential Mortgage Trust | Deephaven Residential Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; Series 2022-1, Class B1 (a) | 4.27% | 01/25/67 | 431510 |
|  | Easy Street Mortgage Loan Trust | Easy Street Mortgage Loan Trust | Easy Street Mortgage Loan Trust | Easy Street Mortgage Loan Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RTL2, Class A1, steps up to 7.50% <br> on 12/25/2027 (a) (d) (e) | 5.61% | 10/25/40 | 500566 |
|  | Ellington Financial Mortgage Trust | Ellington Financial Mortgage Trust | Ellington Financial Mortgage Trust | Ellington Financial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 289000 | &nbsp;&nbsp;&nbsp; Series 2019-2, Class M1 (a) | 3.47% | 11/25/59 | 278763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 258000 | &nbsp;&nbsp;&nbsp; Series 2024-INV1, Class B2 (a) (b) | 7.47% | 03/25/69 | 256406 |
|  | FARM Mortgage Trust | FARM Mortgage Trust | FARM Mortgage Trust | FARM Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 323570 | &nbsp;&nbsp;&nbsp; Series 2021-1, Class B (a) (b) | 3.23% | 07/25/51 | 252311 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 536951 | &nbsp;&nbsp;&nbsp; Series 2024-1, Class B (a) (b) | 5.09% | 10/01/53 | 474685 |
|  | Galton Funding Mortgage Trust | Galton Funding Mortgage Trust | Galton Funding Mortgage Trust | Galton Funding Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 123027 | &nbsp;&nbsp;&nbsp; Series 2018-2, Class B2 (a) | 4.56% | 10/25/58 | 119227 |
|  | GS Mortgage-Backed Securities Trust | GS Mortgage-Backed Securities Trust | GS Mortgage-Backed Securities Trust | GS Mortgage-Backed Securities Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp; Series 2022-LTV1, Class A14 (a) | 3.00% | 06/25/52 | 1095256 |
|  | JP Morgan Mortgage Trust | JP Morgan Mortgage Trust | JP Morgan Mortgage Trust | JP Morgan Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 305019 | &nbsp;&nbsp;&nbsp; Series 2020-INV1, Class A15 (a) | 3.50% | 08/25/50 | 272167 |
|  | LHOME Mortgage Trust | LHOME Mortgage Trust | LHOME Mortgage Trust | LHOME Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 445000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RTL2, Class A2, steps up to 10.40% <br> on 10/25/2026 (a) (d) | 8.90% | 03/25/29 | 449144 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 255000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RTL2, Class M, steps up to 13.08% <br> on 10/25/2026 (a) (d) | 11.58% | 03/25/29 | 258159 |
|  | MFA Trust | MFA Trust | MFA Trust | MFA Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RTL3, Class A1, steps up to 6.91% on <br> 4/25/2027 (a) (d) | 5.91% | 11/25/39 | 756571 |
|  | Mill City Mortgage Loan Trust | Mill City Mortgage Loan Trust | Mill City Mortgage Loan Trust | Mill City Mortgage Loan Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 1025000 | &nbsp;&nbsp;&nbsp; Series 2019-GS2, Class B2 (a) (b) | 3.25% | 08/25/59 | 762307 |
|  | Morgan Stanley Residential Mortgage Loan Trust | Morgan Stanley Residential Mortgage Loan Trust | Morgan Stanley Residential Mortgage Loan Trust | Morgan Stanley Residential Mortgage Loan Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 290000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-SPL1, Class B1, steps up to 5.25% on <br> 9/1/2029 (a) (d) | 4.25% | 02/25/65 | 255842 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 380000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-SPL1, Class M1, steps up to 5.25% on <br> 9/1/2029 (a) (d) | 4.25% | 02/25/65 | 354326 |
|  | New Residential Mortgage Loan Trust | New Residential Mortgage Loan Trust | New Residential Mortgage Loan Trust | New Residential Mortgage Loan Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 930000 | &nbsp;&nbsp;&nbsp; Series 2021-NQ1R, Class B2 (a) | 4.33% | 07/25/55 | 839933 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 785000 | &nbsp;&nbsp;&nbsp; Series 2024-NQM1, Class B2 (a) (b) | 7.99% | 03/25/64 | 827299 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 440000 | &nbsp;&nbsp;&nbsp; Series 2024-NQM3, Class B2 (a) (b) | 7.14% | 11/25/64 | 431730 |

---

------

**First Trust Structured Credit Income Opportunities ETF (SCIO)**

**Portfolio of Investments (Continued)**

**October 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** |
|  | **Collateralized Mortgage Obligations (Continued)** | **Collateralized Mortgage Obligations (Continued)** | **Collateralized Mortgage Obligations (Continued)** |  |
|  | PRPM LLC | PRPM LLC | PRPM LLC | PRPM LLC |
| $325000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RPL4, Class M2, steps up to 5.00% <br> on 12/25/2028 (a) (d) | 4.00% | 12/25/54 | $292988 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 229257 | &nbsp;&nbsp;&nbsp; Series 2025-2, Class A1, steps up to 9.47% on 05/01/2028 (a) (d) | 6.47% | 05/25/30 | 229970 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; Series 2025-6, Class M1 (a) | 10.56% | 08/25/28 | 999831 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 489637 | &nbsp;&nbsp;&nbsp; Series 2025-7, Class A1, steps up to 8.50% on 08/01/2028 (a) (d) | 5.50% | 08/25/30 | 490232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; Series 2025-8, Class A2, steps up to 10.19% on 10/1/2028 (a) (d) | 7.20% | 10/25/30 | 499922 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 290000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RCF4, Class M2, steps up to 5.50% on <br> 08/01/29 (a) (d) | 4.50% | 08/25/55 | 266824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RPL3, Class M1, steps up to 4.25% on <br> 4/1/2028 (a) (d) | 3.25% | 04/25/55 | 325231 |
|  | RCO X Mortgage, LLC | RCO X Mortgage, LLC | RCO X Mortgage, LLC | RCO X Mortgage, LLC |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 492958 | &nbsp;&nbsp;&nbsp; Series 2025-1, Class A1, steps up to 8.88% on 1/25/2028 (a) (d) | 5.88% | 01/25/30 | 493326 |
|  | Redwood Funding Trust | Redwood Funding Trust | Redwood Funding Trust | Redwood Funding Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 518122 | &nbsp;&nbsp;&nbsp; Series 2025-2, Class A (a) | 7.11% | 10/25/55 | 521330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 455357 | &nbsp;&nbsp;&nbsp; Series 2025-3, Class A (a) | 6.23% | 12/27/56 | 459683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 255000 | &nbsp;&nbsp;&nbsp; Series 2025-3, Class B (a) | 7.75% | 12/27/56 | 257325 |
|  | Saluda Grade Alternative Mortgage Trust | Saluda Grade Alternative Mortgage Trust | Saluda Grade Alternative Mortgage Trust | Saluda Grade Alternative Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 325000 | &nbsp;&nbsp;&nbsp; Series 2024-INV1, Class B1 (a) (b) | 7.17% | 08/25/59 | 360741 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 255000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RTL4, Class A2, steps up to 8.50% on <br> 07/01/26 (a) (d) | 7.50% | 02/25/30 | 254958 |
|  | Saluds Grade Alternative Mortgage Trust | Saluds Grade Alternative Mortgage Trust | Saluds Grade Alternative Mortgage Trust | Saluds Grade Alternative Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; Series 2025-RRTL1, Class M2 (a) | 8.42% | 10/25/40 | 493506 |
|  | Toorak Mortgage Trust | Toorak Mortgage Trust | Toorak Mortgage Trust | Toorak Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-2, Class A2, steps up to 10.15% <br> on 04/25/2027 (a) (d) | 8.65% | 10/25/31 | 757060 |
|  | Towd Point Mortgage Trust | Towd Point Mortgage Trust | Towd Point Mortgage Trust | Towd Point Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 1250000 | &nbsp;&nbsp;&nbsp; Series 2017-4, Class B4 (a) | 3.65% | 06/25/57 | 999505 |
|  | Verus Securitization Trust | Verus Securitization Trust | Verus Securitization Trust | Verus Securitization Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 367000 | &nbsp;&nbsp;&nbsp; Series 2021-5, Class B2 (a) | 3.94% | 09/25/66 | 288865 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 375000 | &nbsp;&nbsp;&nbsp; Series 2021-R2, Class B2 (a) | 4.26% | 02/25/64 | 298255 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 415000 | &nbsp;&nbsp;&nbsp; Series 2022-1, Class B1 (a) | 4.01% | 01/25/67 | 335845 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; Series 2023-INV1, Class B2 (a) (b) | 7.47% | 02/25/68 | 995909 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 248000 | &nbsp;&nbsp;&nbsp; Series 2024-6, Class B1 (a) (b) | 7.22% | 07/25/69 | 250520 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 510000 | &nbsp;&nbsp;&nbsp; Series 2024-INV2, Class B2 (a) (b) | 7.96% | 08/26/69 | 511505 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp; Series 2025-INV1, Class B1 (a) | 6.95% | 02/25/70 | 151294 |
|  |  |  |  | 22004569 |
|  | **Commercial Mortgage-Backed Securities — 14.0%** | **Commercial Mortgage-Backed Securities — 14.0%** | **Commercial Mortgage-Backed Securities — 14.0%** |  |
|  | BANK | BANK | BANK | BANK |
| &nbsp;&nbsp;&nbsp;&nbsp; 2143256 | &nbsp;&nbsp;&nbsp; Series 2019-BN16, Class XA, IO (b) | 0.93% | 02/15/52 | 50500 |
| &nbsp;&nbsp;&nbsp;&nbsp; 2811410 | &nbsp;&nbsp;&nbsp; Series 2019-BN21, Class XA, IO (b) | 0.83% | 10/17/52 | 72346 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1049257 | &nbsp;&nbsp;&nbsp; Series 2019-BN22, Class XA, IO (b) | 0.58% | 11/15/62 | 21531 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 970630 | &nbsp;&nbsp;&nbsp; Series 2019-BN24, Class XA, IO (b) | 0.63% | 11/15/62 | 22409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 478000 | &nbsp;&nbsp;&nbsp; Series 2020-BN25, Class A5 | 2.65% | 01/15/63 | 443082 |
| &nbsp;&nbsp;&nbsp;&nbsp; 7500000 | &nbsp;&nbsp;&nbsp; Series 2021-BN31, Class XB, IO (b) | 0.87% | 02/15/54 | 298001 |
| &nbsp;&nbsp;&nbsp;&nbsp; 10008927 | &nbsp;&nbsp;&nbsp; Series 2023-BNK46, Class XA, IO (b) | 0.62% | 08/15/56 | 342085 |
|  | BBCMS Mortgage Trust | BBCMS Mortgage Trust | BBCMS Mortgage Trust | BBCMS Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 368000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-TALL, Class A, 1 Mo. CME Term SOFR + CSA + <br> 0.87% (a) (c) | 4.95% | 03/15/37 | 347496 |
| &nbsp;&nbsp;&nbsp;&nbsp; 3306300 | &nbsp;&nbsp;&nbsp; Series 2020-C6, Class XA, IO (b) | 1.02% | 02/15/53 | 115019 |

---

------

**First Trust Structured Credit Income Opportunities ETF (SCIO)**

**Portfolio of Investments (Continued)**

**October 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** |
|  | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** |  |
|  | BBCMS Mortgage Trust (Continued) | BBCMS Mortgage Trust (Continued) | BBCMS Mortgage Trust (Continued) | BBCMS Mortgage Trust (Continued) |
| $1246307 | &nbsp;&nbsp;&nbsp; Series 2020-C7, Class XA, IO (b) | 1.59% | 04/15/53 | $56094 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4999178 | &nbsp;&nbsp;&nbsp; Series 2024-5C25, Class XA, IO (b) | 1.19% | 03/15/57 | 178148 |
|  | Benchmark Mortgage Trust | Benchmark Mortgage Trust | Benchmark Mortgage Trust | Benchmark Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 4941527 | &nbsp;&nbsp;&nbsp; Series 2019-B13, Class XA, IO (b) | 1.08% | 08/15/57 | 160034 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1304406 | &nbsp;&nbsp;&nbsp; Series 2020-B20, Class XA, IO (b) | 1.52% | 10/15/53 | 66438 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4262401 | &nbsp;&nbsp;&nbsp; Series 2021-B29, Class XA, IO (b) | 1.01% | 09/15/54 | 153071 |
| &nbsp;&nbsp;&nbsp;&nbsp; 4438009 | &nbsp;&nbsp;&nbsp; Series 2024-V6, Class XA, IO (b) | 1.34% | 03/15/57 | 176633 |
|  | BMO Mortgage Trust | BMO Mortgage Trust | BMO Mortgage Trust | BMO Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 9500000 | &nbsp;&nbsp;&nbsp; Series 2025-C13, Class XA, IO (b) | 1.22% | 10/15/58 | 751533 |
|  | BWAY Trust | BWAY Trust | BWAY Trust | BWAY Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 415000 | &nbsp;&nbsp;&nbsp; Series 2025-1535, Class A (a) (b) | 6.31% | 05/05/42 | 430843 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 155000 | &nbsp;&nbsp;&nbsp; Series 2025-1535, Class B (a) (b) | 7.46% | 05/05/42 | 162638 |
|  | CALI | CALI | CALI | CALI |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-SUN, Class D, 1 Mo. CME Term SOFR + <br> 3.63% (a) (c) | 7.71% | 07/15/41 | 301584 |
|  | CFCRE Commercial Mortgage Trust | CFCRE Commercial Mortgage Trust | CFCRE Commercial Mortgage Trust | CFCRE Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 7533188 | &nbsp;&nbsp;&nbsp; Series 2017-C8, Class XA, IO (b) | 1.47% | 06/15/50 | 110969 |
|  | COMM Mortgage Trust | COMM Mortgage Trust | COMM Mortgage Trust | COMM Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp; Series 2024-CBM, Class G (a) (b) | 7.93% | 12/10/41 | 538449 |
|  | CSAIL Commercial Mortgage Trust | CSAIL Commercial Mortgage Trust | CSAIL Commercial Mortgage Trust | CSAIL Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 285000 | &nbsp;&nbsp;&nbsp; Series 2015-C3, Class B (b) | 3.81% | 08/15/48 | 267642 |
|  | GS Mortgage Securities Trust | GS Mortgage Securities Trust | GS Mortgage Securities Trust | GS Mortgage Securities Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 926078 | &nbsp;&nbsp;&nbsp; Series 2020-GC45, Class XA, IO (b) | 0.61% | 02/13/53 | 19341 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1645185 | &nbsp;&nbsp;&nbsp; Series 2020-GC47, Class XA, IO (b) | 1.12% | 05/12/53 | 66778 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1250000 | &nbsp;&nbsp;&nbsp; Series 2024-FAIR, Class E (a) (b) | 9.15% | 07/15/29 | 1265667 |
|  | JPMorgan Chase Commercial Mortgage Securities Trust | JPMorgan Chase Commercial Mortgage Securities Trust | JPMorgan Chase Commercial Mortgage Securities Trust | JPMorgan Chase Commercial Mortgage Securities Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 4216909 | &nbsp;&nbsp;&nbsp; Series 2019-COR5, Class XA, IO (b) | 1.44% | 06/13/52 | 157437 |
|  | MCR Mortgage Trust | MCR Mortgage Trust | MCR Mortgage Trust | MCR Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp; Series 2024-TWA, Class E (a) | 8.73% | 06/12/39 | 305047 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 115000 | &nbsp;&nbsp;&nbsp; Series 2024-TWA, Class F (a) | 10.38% | 06/12/39 | 118087 |
|  | Morgan Stanley Capital I Trust | Morgan Stanley Capital I Trust | Morgan Stanley Capital I Trust | Morgan Stanley Capital I Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; Series 2019-L2, Class C (b) | 4.97% | 03/15/52 | 877262 |
| &nbsp;&nbsp;&nbsp;&nbsp; 11242933 | &nbsp;&nbsp;&nbsp; Series 2019-L2, Class XA, IO (b) | 0.99% | 03/15/52 | 306381 |
| &nbsp;&nbsp;&nbsp;&nbsp; 5631475 | &nbsp;&nbsp;&nbsp; Series 2019-L3, Class XA, IO (b) | 0.60% | 11/15/52 | 116685 |
|  | NRTH Commercial Mortgage Trust | NRTH Commercial Mortgage Trust | NRTH Commercial Mortgage Trust | NRTH Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-PARK, Class A, 1 Mo. CME Term SOFR + <br> 1.39% (a) (c) | 5.54% | 10/15/40 | 400722 |
|  | NYO Commercial Mortgage Trust | NYO Commercial Mortgage Trust | NYO Commercial Mortgage Trust | NYO Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 320000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1290, Class D, 1 Mo. CME Term SOFR + CSA + <br> 2.54% (a) (c) | 6.69% | 11/15/38 | 313566 |
|  | SFO Commercial Mortgage Trust | SFO Commercial Mortgage Trust | SFO Commercial Mortgage Trust | SFO Commercial Mortgage Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-555, Class A, 1 Mo. CME Term SOFR + CSA + <br> 1.15% (a) (c) | 5.30% | 05/15/38 | 497103 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-555, Class D, 1 Mo. CME Term SOFR + CSA + <br> 2.40% (a) (c) | 6.55% | 05/15/38 | 989353 |
|  | SHR Trust | SHR Trust | SHR Trust | SHR Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-LXRY, Class E, 1 Mo. CME Term SOFR + <br> 4.45% (a) (c) | 8.48% | 10/15/41 | 252724 |

---

------

**First Trust Structured Credit Income Opportunities ETF (SCIO)**

**Portfolio of Investments (Continued)**

**October 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** |
|  | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** |  |
|  | Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust | Wells Fargo Commercial Mortgage Trust |
| $3377716 | &nbsp;&nbsp;&nbsp; Series 2021-C59, Class XA, IO (b) | 1.49% | 04/15/54 | $195466 |
| &nbsp;&nbsp;&nbsp;&nbsp; 10889535 | &nbsp;&nbsp;&nbsp; Series 2021-C60, Class XA, IO (b) | 1.49% | 08/15/54 | 672389 |
|  |  |  |  | 11620553 |
|  | **Total Mortgage-Backed Securities** | **Total Mortgage-Backed Securities** | **Total Mortgage-Backed Securities** | 33625122 |
|  | (Cost $33,320,720) | (Cost $33,320,720) | (Cost $33,320,720) |  |
| **ASSET-BACKED SECURITIES — 30.3%** | **ASSET-BACKED SECURITIES — 30.3%** | **ASSET-BACKED SECURITIES — 30.3%** | **ASSET-BACKED SECURITIES — 30.3%** | **ASSET-BACKED SECURITIES — 30.3%** |
|  | AGL CLO 19 Ltd. | AGL CLO 19 Ltd. | AGL CLO 19 Ltd. | AGL CLO 19 Ltd. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 415000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2022-19A, Class ER, 3 Mo. CME Term SOFR + <br> 5.50% (a) (c) | 9.37% | 07/21/38 | 415004 |
|  | Apidos CLO XXIX | Apidos CLO XXIX | Apidos CLO XXIX | Apidos CLO XXIX |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-29A, Class D2R, 3 Mo. CME Term SOFR + <br> 4.65% (a) (c) | 8.51% | 07/25/38 | 261378 |
|  | CIFC Funding Ltd. | CIFC Funding Ltd. | CIFC Funding Ltd. | CIFC Funding Ltd. |
| &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-1A, Class D1R, 3 Mo. CME Term SOFR + <br> 2.80% (a) (c) | 6.68% | 01/18/38 | 1004250 |
|  | CoreVest American Finance Trust | CoreVest American Finance Trust | CoreVest American Finance Trust | CoreVest American Finance Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 302819 | &nbsp;&nbsp;&nbsp; Series 2021-1, Class A (a) | 1.57% | 04/15/53 | 298222 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 498572 | &nbsp;&nbsp;&nbsp; Series 2021-2, Class A (a) | 1.41% | 07/15/54 | 481927 |
|  | Diameter Capital CLO 5 Ltd. | Diameter Capital CLO 5 Ltd. | Diameter Capital CLO 5 Ltd. | Diameter Capital CLO 5 Ltd. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-5A, Class C2R, 3 Mo. CME Term SOFR + <br> 3.60% (a) (c) | 7.47% | 01/15/39 | 250536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-5A, Class DR, 3 Mo. CME Term SOFR + <br> 4.85% (a) (c) | 8.72% | 01/15/39 | 501196 |
|  | Exeter Automobile Receivables Trust | Exeter Automobile Receivables Trust | Exeter Automobile Receivables Trust | Exeter Automobile Receivables Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; Series 2024-1A, Class E (a) | 7.89% | 08/15/31 | 259598 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp; Series 2025-2A, Class E (a) | 7.81% | 10/15/32 | 767715 |
|  | Exeter Select Automobile Receivables Trust | Exeter Select Automobile Receivables Trust | Exeter Select Automobile Receivables Trust | Exeter Select Automobile Receivables Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp; Series 2025-1, Class D | 6.14% | 09/15/31 | 773183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 337000 | &nbsp;&nbsp;&nbsp; Series 2025-1, Class E (a) | 8.44% | 12/15/32 | 350999 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; Series 2025-3, Class C | 5.00% | 03/15/32 | 499245 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; Series 2025-3, Class D | 5.54% | 05/17/32 | 499675 |
|  | FNA VI LLC | FNA VI LLC | FNA VI LLC | FNA VI LLC |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34134 | &nbsp;&nbsp;&nbsp; Series 2021-1A, Class A (a) | 1.35% | 01/10/32 | 32028 |
|  | GLS Auto Receivables Issuer Trust | GLS Auto Receivables Issuer Trust | GLS Auto Receivables Issuer Trust | GLS Auto Receivables Issuer Trust |
| &nbsp;&nbsp;&nbsp;&nbsp; 1005000 | &nbsp;&nbsp;&nbsp; Series 2024-4A, Class E (a) | 7.51% | 08/15/31 | 1035371 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 155453 | &nbsp;&nbsp;&nbsp; Series 2025-3A, Class A1 (a) | 4.49% | 07/15/26 | 155484 |
|  | GLS Auto Select Receivables Issuer Trust | GLS Auto Select Receivables Issuer Trust | GLS Auto Select Receivables Issuer Trust | GLS Auto Select Receivables Issuer Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; Series 2025-4A, Class C (a) | 5.14% | 12/15/31 | 501816 |
|  | Gracie Point International Funding LLC | Gracie Point International Funding LLC | Gracie Point International Funding LLC | Gracie Point International Funding LLC |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; Series 2025-1A, Class A, 30 Day Average SOFR + 1.50% (a) (c) | 5.81% | 08/15/28 | 500264 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1200000 | &nbsp;&nbsp;&nbsp; Series 2025-1A, Class D, 30 Day Average SOFR + 4.50% (a) (c) | 8.81% | 08/15/28 | 1199412 |
|  | Hartwick Park CLO Ltd. | Hartwick Park CLO Ltd. | Hartwick Park CLO Ltd. | Hartwick Park CLO Ltd. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 310000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-1A, Class DR, 3 Mo. CME Term SOFR + <br> 2.70% (a) (c) | 6.58% | 01/20/37 | 311456 |
|  | Island Finance Trust | Island Finance Trust | Island Finance Trust | Island Finance Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 650000 | &nbsp;&nbsp;&nbsp; Series 2025-1A, Class B (a) | 7.95% | 03/19/35 | 660563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp; Series 2025-1A, Class C (a) | 10.00% | 03/19/35 | 306170 |

---

------

**First Trust Structured Credit Income Opportunities ETF (SCIO)**

**Portfolio of Investments (Continued)**

**October 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** |
|  | LHOME Mortgage Trust | LHOME Mortgage Trust | LHOME Mortgage Trust | LHOME Mortgage Trust |
| $275000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-RTL3, Class M, steps up to 12.23% <br> on 12/25/2026 (a) (d) | 10.73% | 05/25/29 | $277728 |
|  | Lmrk Issuer Co. 2 LLC | Lmrk Issuer Co. 2 LLC | Lmrk Issuer Co. 2 LLC | Lmrk Issuer Co. 2 LLC |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; Series 2025-1A, Class C (a) | 8.12% | 09/15/55 | 504015 |
|  | Magnetite XXVII Ltd. | Magnetite XXVII Ltd. | Magnetite XXVII Ltd. | Magnetite XXVII Ltd. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-27A, Class FRR, 3 Mo. CME Term SOFR + <br> 6.84% (a) (c) | 10.77% | 10/20/38 | 259796 |
|  | Neuberger Berman Loan Advisers CLO Ltd. | Neuberger Berman Loan Advisers CLO Ltd. | Neuberger Berman Loan Advisers CLO Ltd. | Neuberger Berman Loan Advisers CLO Ltd. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-39A, Class ER, 3 Mo. CME Term SOFR + <br> 7.20% (a) (c) | 11.08% | 04/20/38 | 250532 |
|  | NYMT Loan Trust | NYMT Loan Trust | NYMT Loan Trust | NYMT Loan Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 270368 | &nbsp;&nbsp;&nbsp; Series 2025-R1, Class A, steps up to 9.38% on 3/25/2028 (a) (d) | 6.38% | 02/25/30 | 271213 |
|  | OHA Credit Funding 15-R Ltd. | OHA Credit Funding 15-R Ltd. | OHA Credit Funding 15-R Ltd. | OHA Credit Funding 15-R Ltd. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2023-15RA, Class A, 3 Mo. CME Term SOFR + <br> 1.29% (a) (c) | 5.17% | 07/20/38 | 301050 |
|  | Pagaya AI Debt Grantor Trust | Pagaya AI Debt Grantor Trust | Pagaya AI Debt Grantor Trust | Pagaya AI Debt Grantor Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 209886 | &nbsp;&nbsp;&nbsp; Series 2024-8, Class D (a) | 6.53% | 01/15/32 | 211115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 266306 | &nbsp;&nbsp;&nbsp; Series 2024-10, Class E (a) | 10.41% | 06/15/32 | 273922 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp; Series 2025-5, Class C (a) | 5.64% | 03/15/33 | 402662 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp; Series 2025-7, Class E (a) | 8.89% | 05/15/33 | 1498395 |
|  | Pagaya AI Debt Trust | Pagaya AI Debt Trust | Pagaya AI Debt Trust | Pagaya AI Debt Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 126332 | &nbsp;&nbsp;&nbsp; Series 2024-2, Class C (a) | 7.57% | 08/15/31 | 127362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 157898 | &nbsp;&nbsp;&nbsp; Series 2024-3, Class D (a) | 9.00% | 10/15/31 | 159071 |
|  | PRET LLC | PRET LLC | PRET LLC | PRET LLC |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 700815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NPL6, Class A1, steps up to 8.74% on <br> 6/25/2028 (a) (d) | 5.74% | 06/25/55 | 704139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NPL6, Class A2, steps up to 12.72% on <br> 06/25/29 (a) (d) | 8.72% | 06/25/55 | 302642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 293088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NPL7, Class A1, steps up to 8.65% on <br> 7/25/2028 (a) (d) | 5.66% | 07/25/55 | 293924 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NPL9, Class A2, steps up to 11.51% on <br> 08/25/29 (a) (d) | 7.51% | 08/25/55 | 500579 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 375000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NPL11, Class A2, steps up to 11.02% on <br> 9/25/2029 (a) (d) | 7.02% | 10/25/55 | 374509 |
|  | PRPM LLC | PRPM LLC | PRPM LLC | PRPM LLC |
| &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-RCF5, Class A3, steps up to 6.46% on <br> 10/1/2029 (a) (d) | 5.46% | 10/25/55 | 1000461 |
|  | RCO IX Mortgage, LLC | RCO IX Mortgage, LLC | RCO IX Mortgage, LLC | RCO IX Mortgage, LLC |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp; Series 2025-4, Class A1, steps up to 8.30% on 10/25/2028 (a) (d) | 5.31% | 10/25/30 | 600083 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-4, Class A2, steps up to 10.90% <br> on 10/25/2028 (a) (d) | 6.90% | 10/25/30 | 399935 |
|  | Research-Driven Pagaya Motor Asset Trust | Research-Driven Pagaya Motor Asset Trust | Research-Driven Pagaya Motor Asset Trust | Research-Driven Pagaya Motor Asset Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 437940 | &nbsp;&nbsp;&nbsp; Series 2025-1A, Class A (a) | 5.04% | 06/27/33 | 438864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 275000 | &nbsp;&nbsp;&nbsp; Series 2025-3A, Class A2 (a) | 5.15% | 02/27/34 | 275825 |
|  | Research-Driven Pagaya Motor Trust | Research-Driven Pagaya Motor Trust | Research-Driven Pagaya Motor Trust | Research-Driven Pagaya Motor Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; Series 2025-5A, Class C (a) | 5.47% | 06/26/34 | 249366 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; Series 2025-5A, Class D (a) | 6.01% | 06/26/34 | 249189 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp; Series 2025-5A, Class E (a) | 9.22% | 06/26/34 | 754898 |
|  | Rockland Park CLO Ltd. | Rockland Park CLO Ltd. | Rockland Park CLO Ltd. | Rockland Park CLO Ltd. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-1A, Class FR, 3 Mo. CME Term SOFR + <br> 7.82% (a) (c) | 11.70% | 07/20/38 | 260001 |

---

------

**First Trust Structured Credit Income Opportunities ETF (SCIO)**

**Portfolio of Investments (Continued)**

**October 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** |
|  | Saluda Grade Alternative Mortgage Trust | Saluda Grade Alternative Mortgage Trust | Saluda Grade Alternative Mortgage Trust | Saluda Grade Alternative Mortgage Trust |
| $485052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NPL1, Class A1, steps up to 10.12% <br> on 12/01/2027 (a) (d) | 7.12% | 01/25/30 | $487163 |
|  | Silver Point CLO 11 Ltd. | Silver Point CLO 11 Ltd. | Silver Point CLO 11 Ltd. | Silver Point CLO 11 Ltd. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 275000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-11A, Class F, 3 Mo. CME Term SOFR + <br> 6.93% (a) (c) | 11.21% | 07/15/38 | 269480 |
|  | Silver Point CLO 7 Ltd. | Silver Point CLO 7 Ltd. | Silver Point CLO 7 Ltd. | Silver Point CLO 7 Ltd. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-7A, Class A1, 3 Mo. CME Term SOFR + <br> 1.36% (a) (c) | 5.26% | 01/15/38 | 250238 |
|  | Sixth Street CLO XVIII Ltd. | Sixth Street CLO XVIII Ltd. | Sixth Street CLO XVIII Ltd. | Sixth Street CLO XVIII Ltd. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-18A, Class FR, 3 Mo. CME Term SOFR + <br> 8.02% (a) (c) | 11.90% | 10/17/38 | 402421 |
|  | VCAT LLC | VCAT LLC | VCAT LLC | VCAT LLC |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 575013 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-NPL1, Class A1, steps up to 8.88% on <br> 01/25/28 (a) (d) | 5.88% | 01/25/55 | 576268 |
|  | VERTICAL BRIDGE CC LLC | VERTICAL BRIDGE CC LLC | VERTICAL BRIDGE CC LLC | VERTICAL BRIDGE CC LLC |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 550000 | &nbsp;&nbsp;&nbsp; Series 2025-1A, Class C (a) | 7.45% | 08/16/55 | 560115 |
|  | Whitebox CLO Ltd. | Whitebox CLO Ltd. | Whitebox CLO Ltd. | Whitebox CLO Ltd. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-5A, Class D2, 3 Mo. CME Term SOFR + <br> 4.10% (a) (c) | 8.35% | 07/20/38 | 503164 |
|  | **Total Asset-Backed Securities** | **Total Asset-Backed Securities** | **Total Asset-Backed Securities** | 25055617 |
|  | (Cost $24,949,139) | (Cost $24,949,139) | (Cost $24,949,139) |  |
| **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 14.4%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 14.4%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 14.4%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 14.4%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 14.4%** |
|  | **Collateralized Mortgage Obligations — 13.2%** | **Collateralized Mortgage Obligations — 13.2%** | **Collateralized Mortgage Obligations — 13.2%** |  |
|  | Federal Home Loan Mortgage Corporation |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1373749 | &nbsp;&nbsp;&nbsp; Series 2022-5266, Class FA, 30 Day Average SOFR + 0.82% (c) | 5.00% | 09/25/52 | 1358783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 797997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-5435, Class BS, (30 Day Average SOFR) ×-2.00+ <br> 11.93% (f) | 3.56% | 07/25/54 | 756822 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 333793 | &nbsp;&nbsp;&nbsp; Series 2024-5460, Class FN, 30 Day Average SOFR + 1.10% (c) | 5.28% | 10/25/54 | 334328 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1728800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-5502, Class FC, 30 Day Average SOFR + 2.00%, <br> 6.00% Cap (c) | 6.00% | 02/25/55 | 1750328 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1558109 | &nbsp;&nbsp;&nbsp; Series 2025-5502, Class FD, 30 Day Average SOFR + 1.60% (c) | 5.96% | 02/25/55 | 1570926 |
|  | Federal National Mortgage Association |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82831 | &nbsp;&nbsp;&nbsp; Series 2016-63, Class AF, 30 Day Average SOFR + 0.61% (c) | 4.80% | 09/25/46 | 81600 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1136631 | &nbsp;&nbsp;&nbsp; Series 2023-51, PO | (g) | 11/25/53 | 999331 |
| &nbsp;&nbsp;&nbsp;&nbsp; 1014049 | &nbsp;&nbsp;&nbsp; Series 2025-49, Class FA, 30 Day Average SOFR + 0.80% (c) | 4.98% | 06/25/55 | 1009538 |
|  | Government National Mortgage Association |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1314961 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2024-79, Class VB, (30 Day Average SOFR) ×-1.50+ <br> 10.95% (f) | 4.67% | 05/20/54 | 1284536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 788567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025-100, Class JS, (30 Day Average SOFR) ×-2.75+ <br> 15.95% (f) | 4.44% | 06/20/55 | 779625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 964590 | &nbsp;&nbsp;&nbsp; Series 2025-4, Class FY, 30 Day Average SOFR + 1.60% (c) | 5.78% | 01/20/55 | 971188 |
|  |  |  |  | 10897005 |
|  | **Commercial Mortgage-Backed Securities — 0.5%** | **Commercial Mortgage-Backed Securities — 0.5%** | **Commercial Mortgage-Backed Securities — 0.5%** |  |
|  | Federal Home Loan Mortgage Corporation Multiclass Certificates |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp; Series 2020-RR07, Class AX, IO (h) | 2.47% | 09/27/28 | 84769 |
|  | &nbsp;&nbsp; Federal Home Loan Mortgage Corporation Multifamily Structured <br> Pass-Through Certificates |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 940000 | &nbsp;&nbsp;&nbsp; Series K755, Class X3, IO (b) | 5.64% | 02/25/31 | 234938 |

---

------

**First Trust Structured Credit Income Opportunities ETF (SCIO)**

**Portfolio of Investments (Continued)**

**October 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal**<br> **Value**<br>| **Description** | **Stated**<br> **Coupon**<br>| **Stated**<br> **Maturity**<br>| **Value** |
| **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** |
|  | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** | **Commercial Mortgage-Backed Securities (Continued)** |  |
|  | Government National Mortgage Association |  |  |  |
| $1905904 | &nbsp;&nbsp;&nbsp; Series 2024-32, IO (b) | 0.70% | 06/16/63 | $96530 |
|  |  |  |  | 416237 |
|  | **Pass-Through Securities — 0.7%** | **Pass-Through Securities — 0.7%** | **Pass-Through Securities — 0.7%** |  |
|  | Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 754429 | &nbsp;&nbsp;&nbsp; Pool MA4271  | 1.50% | 02/01/51 | 569778 |
|  |  |  |  | 569778 |
|  | **Total U.S. Government Agency Mortgage-Backed Securities** | **Total U.S. Government Agency Mortgage-Backed Securities** | **Total U.S. Government Agency Mortgage-Backed Securities** | 11883020 |
|  | (Cost $11,792,901) | (Cost $11,792,901) | (Cost $11,792,901) |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **MONEY MARKET FUNDS — 15.9%** | **MONEY MARKET FUNDS — 15.9%** | **MONEY MARKET FUNDS — 15.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp; 13192647 | Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class - 3.94% (i) | 13192647 |
|  | (Cost $13,192,647) |  |
|  | **Total Investments — 101.2%** | 83756406 |
|  | (Cost $83,255,407) |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Number of** <br>**Contracts**<br>| **Description** | **Notional** <br>**Amount**<br>| **Exercise** <br>**Price**<br>| **Expiration** <br>**Date**<br>| **Value** |
| **PURCHASED OPTIONS — 0.0%** | **PURCHASED OPTIONS — 0.0%** | **PURCHASED OPTIONS — 0.0%** | **PURCHASED OPTIONS — 0.0%** | **PURCHASED OPTIONS — 0.0%** | **PURCHASED OPTIONS — 0.0%** |
|  | **Call Options Purchased — 0.0%** | **Call Options Purchased — 0.0%** | **Call Options Purchased — 0.0%** | **Call Options Purchased — 0.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | 3 Month SOFR Futures Call  | $242200 | $96.75 | 12/11/26 | 912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 | U.S. 5-Year Treasury Futures Call  | 437500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 109.00 | 02/20/26 | 3656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | U.S. 5-Year Treasury Futures Call  | 218750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 109.25 | 02/20/26 | 1562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | U.S. 5-Year Treasury Futures Call  | 218750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 109.75 | 02/20/26 | 1141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 | U.S. 10-Year Treasury Futures Call  | 450625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 114.00 | 11/21/25 | 375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | U.S. 10-Year Treasury Futures Call  | 225313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 114.50 | 11/21/25 | 94 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 | U.S. 10-Year Treasury Futures Call  | 450625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 116.00 | 11/21/25 | 63 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | U.S. 10-Year Treasury Futures Call  | 225188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 112.50 | 02/20/26 | 2500 |
|  | **Total Call Options Purchased** | **Total Call Options Purchased** | **Total Call Options Purchased** | **Total Call Options Purchased** | 10303 |
|  | (Cost $15,955) | (Cost $15,955) | (Cost $15,955) | (Cost $15,955) |  |
|  | **Put Options Purchased — 0.0%** | **Put Options Purchased — 0.0%** | **Put Options Purchased — 0.0%** | **Put Options Purchased — 0.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | 3 Month SOFR Futures Put  | 242200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96.75 | 12/11/26 | 594 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 | U.S. 5-Year Treasury Futures Put  | 437500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 109.00 | 02/20/26 | 2594 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | U.S. 5-Year Treasury Futures Put  | 218750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 109.25 | 02/20/26 | 1531 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | U.S. 5-Year Treasury Futures Put  | 218750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 109.75 | 02/20/26 | 2109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 | U.S. 10-Year Treasury Futures Put  | 450625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 107.00 | 11/21/25 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | U.S. 10-Year Treasury Futures Put  | 225313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 107.50 | 11/21/25 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 | U.S. 10-Year Treasury Futures Put  | 450625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 109.00 | 11/21/25 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2 | U.S. 10-Year Treasury Futures Put  | 225188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 112.50 | 02/20/26 | 2281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 | U.S. Treasury Long Bond Futures Put  | 469250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95.00 | 11/21/25 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22 | U.S. Treasury Long Bond Futures Put  | 2574688 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 105.00 | 02/20/26 | 3438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 | U.S. Treasury Long Bond Futures Put  | 468125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 110.00 | 02/20/26 | 1875 |
|  | **Total Put Options Purchased** | **Total Put Options Purchased** | **Total Put Options Purchased** | **Total Put Options Purchased** | 14422 |
|  | (Cost $29,287) | (Cost $29,287) | (Cost $29,287) | (Cost $29,287) |  |
|  | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | **Total Purchased Options** | 24725 |
|  | (Cost $45,242) | (Cost $45,242) | (Cost $45,242) | (Cost $45,242) |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

**First Trust Structured Credit Income Opportunities ETF (SCIO)**

**Portfolio of Investments (Continued)**

**October 31, 2025 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal** <br>**Value**<br>| **Description** | **Stated** <br>**Coupon**<br>| **Stated** <br>**Maturity**<br>| **Value** |
| **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES SOLD SHORT — (2.2)%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES SOLD SHORT — (2.2)%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES SOLD SHORT — (2.2)%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES SOLD SHORT — (2.2)%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES SOLD SHORT — (2.2)%** |
|  | **Pass-Through Securities — (2.2)%** | **Pass-Through Securities — (2.2)%** | **Pass-Through Securities — (2.2)%** |  |
|  | Federal National Mortgage Association | Federal National Mortgage Association | Federal National Mortgage Association |  |
| $(710000) | &nbsp;&nbsp;&nbsp; Pool TBA (j) | 3.00% | 12/15/55 | $(629127)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (395000) | &nbsp;&nbsp;&nbsp; Pool TBA (j) | 3.50% | 12/15/55 | (363919)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (580000) | &nbsp;&nbsp;&nbsp; Pool TBA (j) | 4.50% | 12/15/55 | (565077)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (316000) | &nbsp;&nbsp;&nbsp; Pool TBA (j) | 3.50% | 01/15/56 | (291209)<br>|
|  | **Total Investments Sold Short — (2.2)%** | **Total Investments Sold Short — (2.2)%** | **Total Investments Sold Short — (2.2)%** | (1849332)<br>|
|  | (Proceeds $1,848,306) | (Proceeds $1,848,306) | (Proceeds $1,848,306) |  |
|  | **Net Other Assets and Liabilities — 1.0%** | **Net Other Assets and Liabilities — 1.0%** | **Net Other Assets and Liabilities — 1.0%** | 862593 |
|  | **Net Assets — 100.0%** | **Net Assets — 100.0%** | **Net Assets — 100.0%** | $82794392 |

---

**Futures Contracts at October 31, 2025:**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Futures Contracts Long** | **Number of** <br>**Contracts**<br>| **Expiration** <br>**Date**<br>| **Notional** <br>**Value**<br>| **Unrealized** <br>**Appreciation** <br>**(Depreciation)/** <br>**Value**<br>|
| U.S. 2-Year Treasury Notes | 67 | Dec-2025 | &nbsp;&nbsp; $13952227 | &nbsp;&nbsp; $(12484)<br>|
| U.S. 5-Year Treasury Notes | 93 | Dec-2025 | &nbsp;&nbsp; 10156617 | &nbsp;&nbsp; (12184)<br>|
| U.S. 10-Year Treasury Notes | 77 | Dec-2025 | &nbsp;&nbsp; 8675734 | &nbsp;&nbsp; 18448 |
| Ultra 10 Year U.S. Treasury Notes | 12 | Dec-2025 | &nbsp;&nbsp; 1385813 | &nbsp;&nbsp; (2047)<br>|
|  |  |  | &nbsp;&nbsp; $34170391 | &nbsp;&nbsp; $(8267)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Futures Contracts Short** |  |  |  |  |
| U.S. Treasury Long Bond Futures | 49 | Dec-2025 | &nbsp;&nbsp; $(5748312)<br>| &nbsp;&nbsp; $(93282)<br>|
| Ultra U.S. Treasury Bond Futures | 6 | Dec-2025 | &nbsp;&nbsp; (727688)<br>| &nbsp;&nbsp; (25207)<br>|
|  |  |  | &nbsp;&nbsp; $(6476000)<br>| &nbsp;&nbsp; $(118489)<br>|
|  |  | &nbsp;&nbsp; Total | &nbsp;&nbsp; $27694391 | &nbsp;&nbsp; $(126756)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(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, 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 October 31, 2025, securities noted as such amounted to $51,211,362
 or 61.9% of net assets.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Collateral Strip Rate security. Coupon is based on the weighted net interest rate of the investment's underlying collateral. The interest rate resets periodically.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Floating or variable rate security.

&nbsp;&nbsp;&nbsp;&nbsp;(d) Step-up security. A security where the coupon increases or steps up at a predetermined
 date.

&nbsp;&nbsp;&nbsp;&nbsp;(e) When-issued security. The interest rate shown reflects the rate in effect at October
 31, 2025. Interest will begin accruing on the security's first settlement date.

&nbsp;&nbsp;&nbsp;&nbsp;(f) Inverse floating rate security.

&nbsp;&nbsp;&nbsp;&nbsp;(g) Zero coupon security.

&nbsp;&nbsp;&nbsp;&nbsp;(h) Weighted Average Coupon security. Coupon is based on the blended interest rate of
 the underlying holdings, which may have different coupons. The coupon may change in any period.

&nbsp;&nbsp;&nbsp;&nbsp;(i) Rate shown reflects yield as of October 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;(j) All or a portion of this security is part of a mortgage dollar roll agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

------

**First Trust Structured Credit Income Opportunities ETF (SCIO)**

**Portfolio of Investments (Continued)**

**October 31, 2025 (Unaudited)**

---

| | |
|:---|:---|
| Abbreviations throughout the Portfolio of Investments: | Abbreviations throughout the Portfolio of Investments: |
| CME | – Chicago Mercantile Exchange |
| CSA | – Credit Spread Adjustment |
| IO | – Interest-Only Security - Principal amount shown represents par value on which interest payments are based |
| PO | – Principal-Only Security |
| SOFR | – Secured Overnight Financing Rate |
| TBA | – To-Be-Announced Security |

---

------

**Valuation Inputs**

A summary of the inputs used to value the Fund's investments as of October 31, 2025 is as follows (see Valuation Inputs in the Additional Information section):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** |
|  | **Total** <br>**Value at** <br>**10/31/2025**<br>| &nbsp;&nbsp;&nbsp; **Level 1** <br>**Quoted** <br>**Prices**<br>| &nbsp;&nbsp;&nbsp; **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| &nbsp;&nbsp;&nbsp; **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| Mortgage-Backed Securities | &nbsp;&nbsp; $33625122 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $33625122 | &nbsp;&nbsp;&nbsp;&nbsp; $— |
| Asset-Backed Securities | &nbsp;&nbsp; 25055617 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 25055617 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| U.S. Government Agency Mortgage-Backed Securities | &nbsp;&nbsp; 11883020 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 11883020 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Money Market Funds | &nbsp;&nbsp; 13192647 | &nbsp;&nbsp;&nbsp;&nbsp; 13192647 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Total Investments | &nbsp;&nbsp; 83756406 | &nbsp;&nbsp;&nbsp;&nbsp; 13192647 | &nbsp;&nbsp;&nbsp;&nbsp; 70563759 | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Purchased Options | &nbsp;&nbsp; 24725 | &nbsp;&nbsp;&nbsp;&nbsp; 24725 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Futures Contracts | &nbsp;&nbsp; 18448 | &nbsp;&nbsp;&nbsp;&nbsp; 18448 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Total | &nbsp;&nbsp; $83799579 | &nbsp;&nbsp;&nbsp;&nbsp; $13235820 | &nbsp;&nbsp;&nbsp;&nbsp; $70563759 | &nbsp;&nbsp;&nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** |
|  | **Total** <br>**Value at** <br>**10/31/2025**<br>| &nbsp;&nbsp;&nbsp; **Level 1** <br>**Quoted** <br>**Prices**<br>| &nbsp;&nbsp;&nbsp; **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| &nbsp;&nbsp;&nbsp; **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| &nbsp;&nbsp; U.S. Government Agency Mortgage-Backed Securities Sold <br> Short<br>| &nbsp;&nbsp; $(1849332)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(1849332)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— |
| Futures Contracts | &nbsp;&nbsp; (145204)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (145204)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
| Total | &nbsp;&nbsp; $(1994536)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(145204)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(1849332)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— |

---

------

**First Trust Exchange-Traded Fund IV**

**Additional Information**

**October 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 – Level 1 inputs are quoted prices in active markets for identical investments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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.)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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.

------

## 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 IV

- **b. Investment Company Act file number:** 811-22559

- **c. CIK number of Registrant:** 0001517936

- **d. LEI of Registrant:** 5493006CBTW7P2B31B80

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

  - **Street Address 1:** 120 East Liberty Drive

  - **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 AAA CMBS ETF

- **b. EDGAR series identifier (if any):** S000084026

- **c. LEI of Series:** 254900TMRGSMLWIAPA66

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

- **a. Date of fiscal year-end:** 2026-07-31

- **b. Date as of which information is reported:** 2025-10-31

**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:** $26175744.51

**Total Liabilities:** $510738.70

**Net Assets:** $25665005.81

**Delayed Delivery Securities:** $500271.05

**Cash Not Reported:** $562880.21

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 27.62398000 | **1-Year:** 2071.23083000 | **5-Year:** 5724.37480000 | **10-Year:** 459.98568000 | **30-Year:** 0.00000000

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

- **3-Month:** 0.00000000 | **1-Year:** 152.00726000 | **5-Year:** 357.30913000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000248162 | 1.53%                | 0.39%                | 0.44%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $249.84                  | $173578.24                                 |
| Month 2  | $9452.57                 | $-15163.88                                 |
| Month 3  | $49203.60                | $-53012.89                                 |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | US ULTRA BOND CBT                                            | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        -1 | NC      | $-500.00      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| THE 2023-MIC Trust                          | 2023-MIC Trust/THE                                           | CUSIP: 87256GAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    530000 | PA      | $573894.23    | 2.24%             | 2038-12-05      | Variable      | 8.44%                 | No            |                  2 | On Loan: No      |
| SLG Office Trust                            | SLG Office Trust 2021-OVA                                    | CUSIP: 78449RAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    323000 | PA      | $288518.91    | 1.12%             | 2041-07-15      | Fixed         | 2.59%                 | No            |                  2 | On Loan: No      |
| BPR Trust                                   | BPR 2023-STON Mortgage Trust                                 | CUSIP: 05593GAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $260713.43    | 1.02%             | 2039-12-05      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                | GS Mortgage Securities Trust 2017-GS6                        | CUSIP: 36253PAB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    304877 | PA      | $299527.32    | 1.17%             | 2050-05-10      | Fixed         | 3.16%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Trust 2025-GW                                             | CUSIP: 12433GAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    260000 | PA      | $260750.88    | 1.02%             | 2042-07-15      | Floating      | 5.63%                 | No            |                  2 | On Loan: No      |
| CENT Trust                                  | CENT 2025-CITY                                               | CUSIP: 12517TAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    550000 | PA      | $557588.35    | 2.17%             | 2040-07-10      | Variable      | 4.92%                 | No            |                  2 | On Loan: No      |
| Bank                                        | BANK 2018-BNK10                                              | CUSIP: 065404BF1<br>LEI: 549300GL0Y86051URC66 | Long             | ABS-MBS          | CORP              | US        |   2876164 | PA      | $36754.21     | 0.14%             | 2061-02-15      | Variable      | 0.68%                 | No            |                  2 | On Loan: No      |
| Cantor Commercial Real Estate               | Cantor Commercial Real Estate Lending 2019-CF1               | CUSIP: 12529MAB4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    359555 | PA      | $352042.35    | 1.37%             | 2052-05-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Bank                                        | BANK 2025-BNK49                                              | CUSIP: 05494FBY3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5174324 | PA      | $243742.24    | 0.95%             | 2058-03-15      | Variable      | 0.63%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust              | Morgan Stanley Capital I Trust 2018-L1                       | CUSIP: 61691QAD0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    290000 | PA      | $289399.24    | 1.13%             | 2051-10-15      | Fixed         | 4.14%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | US 10YR ULTRA                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |         1 | NC      | $-31.25       | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| FHLMC Multifamily Structured P              | Freddie Mac Multifamily Structured Pass Through Certificates | CUSIP: 3137BP7A1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    489272 | PA      | $401.20       | 0.00%             | 2026-03-25      | Variable      | 1.00%                 | No            |                  2 | On Loan: No      |
| Bank                                        | BANK 2020-BNK26                                              | CUSIP: 06540JBB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    325000 | PA      | $296657.76    | 1.16%             | 2063-03-15      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| Arbor Multifamily Mortgage Sec              | Arbor Multifamily Mortgage Securities Trust 2020-MF1         | CUSIP: 03881BAJ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    150000 | PA      | $139981.34    | 0.55%             | 2053-05-15      | Variable      | 3.06%                 | No            |                  2 | On Loan: No      |
| Bank                                        | BANK 2020-BNK25                                              | CUSIP: 06539WBB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    542000 | PA      | $502406.85    | 1.96%             | 2063-01-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| CALI Mortgage Trust                         | Cali 2024-Sun                                                | CUSIP: 12988DAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    134000 | PA      | $134375.28    | 0.52%             | 2041-07-15      | Floating      | 5.97%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P              | Freddie Mac Multifamily Structured Pass Through Certificates | CUSIP: 3137F82T9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1613748 | PA      | $58327.63     | 0.23%             | 2030-11-25      | Variable      | 0.87%                 | No            |                  2 | On Loan: No      |
| Freddie Mac Multiclass Certifi              | Freddie Mac Multiclass Certificates Series 2020-RR07         | CUSIP: 3137FRVC2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1500000 | PA      | $84768.90     | 0.33%             | 2028-09-27      | Variable      | 2.47%                 | No            |                  2 | On Loan: No      |
| Bank                                        | BANK 2020-BNK30                                              | CUSIP: 06541UBW5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    350000 | PA      | $307672.05    | 1.20%             | 2053-12-15      | Fixed         | 1.93%                 | No            |                  2 | On Loan: No      |
| Bank                                        | Bank 2019-BNK19                                              | CUSIP: 06540WBH5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7513815 | PA      | $219093.08    | 0.85%             | 2061-08-15      | Variable      | 0.93%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust              | Morgan Stanley Capital I Trust 2019-L2                       | CUSIP: 61768HAV8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    310015 | PA      | $302545.31    | 1.18%             | 2052-03-15      | Fixed         | 3.81%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | US 10YR NOTE (CBT)                                           | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        15 | NC      | $4787.29      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Barclays Commercial Mortgage S              | BBCMS 2018-TALL Mortgage Trust                               | CUSIP: 05548WAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    268000 | PA      | $253067.79    | 0.99%             | 2037-03-15      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                    | Benchmark 2023-B40 Mortgage Trust                            | CUSIP: 08163WAD7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    425000 | PA      | $462531.50    | 1.80%             | 2056-12-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| arbor multifamily mortgage sec              | Arbor Multifamily Mortgage Securities Trust 2021-MF3         | CUSIP: 03882KAQ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3791000 | PA      | $101383.47    | 0.40%             | 2054-10-15      | Variable      | 0.49%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag              | Wells Fargo Commercial Mortgage Trust 2021-C60               | CUSIP: 95003DBP2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3914476 | PA      | $241704.40    | 0.94%             | 2054-08-15      | Variable      | 1.49%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag              | Wells Fargo Commercial Mortgage Trust 2018-C47               | CUSIP: 95002DBG3<br>LEI: 549300VHRKFNCWVN9Y77 | Long             | ABS-MBS          | CORP              | US        |    375000 | PA      | $376320.53    | 1.47%             | 2061-09-15      | Fixed         | 4.44%                 | No            |                  2 | On Loan: No      |
| NRTH PARK Mortgage Trust                    | NRTH Commercial Mortgage Trust 2025-PARK                     | CUSIP: 669985AA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    275000 | PA      | $275496.27    | 1.07%             | 2040-10-15      | Floating      | 5.54%                 | No            |                  2 | On Loan: No      |
| Bank                                        | BANK 2021-BNK31                                              | CUSIP: 06541ABN9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7500000 | PA      | $298001.10    | 1.16%             | 2054-02-15      | Variable      | 0.87%                 | No            |                  2 | On Loan: No      |
| CHI Commercial Mortgage Trust               | CHI Commercial Mortgage Trust 2025-SFT                       | CUSIP: 16706GAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    270000 | PA      | $277377.59    | 1.08%             | 2042-04-15      | Variable      | 5.48%                 | No            |                  2 | On Loan: No      |
| Bank                                        | BANK 2021-BNK33                                              | CUSIP: 06541CBL9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    318750 | PA      | $287936.53    | 1.12%             | 2064-05-15      | Fixed         | 2.56%                 | No            |                  2 | On Loan: No      |
| NY Commercial Mortgage Trust                | NY Commercial Mortgage Trust 2025-299P                       | CUSIP: 62957FAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $526280.70    | 2.05%             | 2047-02-10      | Variable      | 5.66%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | US 2YR NOTE (CBT)                                            | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        26 | NC      | $-4553.91     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Commercial Mortgage               | Citigroup Commercial Mortgage Trust 2019-GC43                | CUSIP: 17328HBE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    402387 | PA      | $391974.33    | 1.53%             | 2052-11-10      | Fixed         | 2.96%                 | No            |                  2 | On Loan: No      |
| BMO Mortgage Trust                          | BMO 2024-C9 Mortgage Trust                                   | CUSIP: 05593MAD5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    250000 | PA      | $266855.00    | 1.04%             | 2057-07-15      | Fixed         | 5.76%                 | No            |                  2 | On Loan: No      |
| WHARF Commercial Mortgage Trus              | WHARF Commercial Mortgage Trust 2025-DC                      | CUSIP: 92987LAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    325000 | PA      | $334207.84    | 1.30%             | 2040-07-15      | Variable      | 5.35%                 | No            |                  2 | On Loan: No      |
| Bank                                        | BANK 2019-BNK23                                              | CUSIP: 06541RBC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4104920 | PA      | $95480.43     | 0.37%             | 2052-12-15      | Variable      | 0.68%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Trust 2021-ARIA                                           | CUSIP: 05608RAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    370000 | PA      | $369522.89    | 1.44%             | 2036-10-15      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| Freddie Mac Multiclass Certifi              | Freddie Mac Multiclass Certificates Series 2020-RR05         | CUSIP: 3137FRV24<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    160000 | PA      | $8745.33      | 0.03%             | 2029-01-27      | Fixed         | 2.01%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P              | Freddie Mac Multifamily Structured Pass Through Certificates | CUSIP: 3137HN4T2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1186152 | PA      | $42809.05     | 0.17%             | 2030-05-25      | Variable      | 0.90%                 | No            |                  2 | On Loan: No      |
| BWAY Mortgage Trust                         | BWAY Trust 2025-1535                                         | CUSIP: 12430BAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    415000 | PA      | $430843.46    | 1.68%             | 2042-05-05      | Variable      | 6.31%                 | No            |                  2 | On Loan: No      |
| SFO Commerical Mortgage Trust               | SFO Commercial Mortgage Trust 2021-555                       | CUSIP: 78432WAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    319200 | PA      | $317350.62    | 1.24%             | 2038-05-15      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mor              | JPMCC Commercial Mortgage Securities Trust 2019-COR5         | CUSIP: 46591EAY3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7606698 | PA      | $283993.79    | 1.11%             | 2052-06-13      | Variable      | 1.44%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | US 5YR NOTE (CBT)                                            | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       -10 | NC      | $-460.94      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| HOUSTON GALLERIA MALL TRUST                 | Houston Galleria Mall Trust 2025-HGLR                        | CUSIP: 44216XAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    280000 | PA      | $291316.76    | 1.14%             | 2045-02-05      | Variable      | 5.46%                 | No            |                  2 | On Loan: No      |
| BMO Mortgage Trust                          | BMO 2023-C6 MORTGAGE TRUST                                   | CUSIP: 055985AF2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    235000 | PA      | $252577.20    | 0.98%             | 2056-09-15      | Fixed         | 6.21%                 | No            |                  2 | On Loan: No      |
| MSILF Treasury Portfolio                    | MSILF Treasury Portfolio                                     | CUSIP: 61747C582<br>LEI: 549300D1XR6GP7EZ0T47 | Long             | STIV             | RF                | US        |    834699 | NS      | $834698.89    | 3.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilton USA Trust                            | Hilton USA Trust                                             | CUSIP: 432826AA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $301632.81    | 1.18%             | 2042-07-15      | Floating      | 5.78%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                | GS Mortgage Securities Trust 2019-GC39                       | CUSIP: 36260JAF4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8463918 | PA      | $272103.12    | 1.06%             | 2052-05-10      | Variable      | 1.08%                 | No            |                  2 | On Loan: No      |
| BMO Mortgage Trust                          | BMO 2025-C12 Mortgage Trust                                  | CUSIP: 05615DAD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    350000 | PA      | $372432.90    | 1.45%             | 2058-06-15      | Fixed         | 5.76%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                | CSMC Series 2019-UVIL                                        | CUSIP: 12656DAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    375000 | PA      | $353080.80    | 1.38%             | 2041-12-15      | Fixed         | 3.16%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag              | Wells Fargo Commercial Mortgage Trust 2022-C62               | CUSIP: 95003MBS6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    380000 | PA      | $364213.32    | 1.42%             | 2055-04-15      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| BSTN Commercial Mortgage Trust              | BSTN Commercial Mortgage Trust 2025-1C                       | CUSIP: 05615EAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    550000 | PA      | $567929.89    | 2.21%             | 2044-06-15      | Variable      | 5.37%                 | No            |                  2 | On Loan: No      |
| BMO Mortgage Trust                          | BMO 2025-C13 Mortgage Trust                                  | CUSIP: 05592YAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3670000 | PA      | $290328.93    | 1.13%             | 2058-10-15      | Variable      | 1.22%                 | No            |                  2 | On Loan: No      |
| SKY1 Trust                                  | SKY Trust 2025-LINE                                          | CUSIP: 830941AA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    277646 | PA      | $279660.64    | 1.09%             | 2042-04-15      | Floating      | 6.62%                 | No            |                  2 | On Loan: No      |
| Arbor Multifamily Mortgage Sec              | Arbor Multifamily Mortgage Securities Trust 2020-MF1         | CUSIP: 03881BAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    390000 | PA      | $363744.81    | 1.42%             | 2053-05-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| IRV Trust                                   | IRV Trust 2025-200P                                          | CUSIP: 45006HAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $102790.47    | 0.40%             | 2047-03-14      | Variable      | 5.29%                 | No            |                  2 | On Loan: No      |
| INT Commercial Mortgage Trust               | INT Commercial Mortgage Trust 2025-PLAZA                     | CUSIP: 44989YAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $500127.35    | 1.95%             | 2037-11-05      | Variable      | 4.88%                 | No            |                  2 | On Loan: No      |
| Bank                                        | BANK 2023-BNK46                                              | CUSIP: 06541DCD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8576372 | PA      | $293123.25    | 1.14%             | 2056-08-15      | Variable      | 0.62%                 | No            |                  2 | On Loan: No      |
| BMO Mortgage Trust                          | BMO 2024-C9 Mortgage Trust                                   | CUSIP: 05593MAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $319314.39    | 1.24%             | 2057-07-15      | Fixed         | 5.77%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage S              | BBCMS Mortgage Trust 2025-C35                                | CUSIP: 07337DAH3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5796533 | PA      | $297526.74    | 1.16%             | 2058-07-15      | Variable      | 0.65%                 | No            |                  2 | On Loan: No      |
| BPR Trust                                   | BPR Trust 2021-WILL                                          | CUSIP: 05591VAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     68794 | PA      | $69147.07     | 0.27%             | 2038-06-15      | Floating      | 5.90%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust              | Morgan Stanley Capital I Trust 2019-L2                       | CUSIP: 61768HAX4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  12254797 | PA      | $333955.47    | 1.30%             | 2052-03-15      | Variable      | 0.99%                 | No            |                  2 | On Loan: No      |
| Bank                                        | BANK 2020-BNK29                                              | CUSIP: 06541TBF5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500170 | PA      | $438049.34    | 1.71%             | 2053-11-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| BMO Mortgage Trust                          | BMO 2023-C5 Mortgage Trust                                   | CUSIP: 055988AE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    260000 | PA      | $274585.74    | 1.07%             | 2056-06-15      | Fixed         | 5.99%                 | No            |                  2 | On Loan: No      |
| NYO Commercial Mortgage Trust               | NYO Commercial Mortgage Trust 2021-1290                      | CUSIP: 62955HAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    375000 | PA      | $373665.34    | 1.46%             | 2038-11-15      | Floating      | 5.24%                 | No            |                  2 | On Loan: No      |
| CFCRE Commercial Mortgage Trus              | CFCRE Commercial Mortgage Trust 2017-C8                      | CUSIP: 12532CBE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7533188 | PA      | $110969.13    | 0.43%             | 2050-06-15      | Variable      | 1.47%                 | No            |                  2 | On Loan: No      |
| MSWF Commercial Mortgage Trust              | MSWF Commercial Mortgage Trust 2023-1                        | CUSIP: 55376CAP8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5346139 | PA      | $268344.63    | 1.05%             | 2056-05-15      | Variable      | 0.86%                 | No            |                  2 | On Loan: No      |
| ILPT Commercial Mortgage Trust              | ILPT Trust 2019-SURF                                         | CUSIP: 44965LAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    225000 | PA      | $221003.51    | 0.86%             | 2041-02-11      | Fixed         | 4.14%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                    | Benchmark 2021-B25 Mortgage Trust                            | CUSIP: 08163DAD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $455911.35    | 1.78%             | 2054-04-15      | Fixed         | 2.27%                 | No            |                  2 | On Loan: No      |
| BX Trust                                    | BX Commercial Mortgage Trust 2020-VIV4                       | CUSIP: 05608MAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    489000 | PA      | $453146.37    | 1.77%             | 2044-03-09      | Fixed         | 2.84%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag              | Wells Fargo Commercial Mortgage Trust 2021-C59               | CUSIP: 95003CBU3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4107303 | PA      | $237686.72    | 0.93%             | 2054-04-15      | Variable      | 1.49%                 | No            |                  2 | On Loan: No      |
| Hawaii Hotel Trust                          | Hawaii Hotel Trust 2025-MAUI                                 | CUSIP: 419909AA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    257500 | PA      | $258002.90    | 1.01%             | 2042-03-15      | Floating      | 5.43%                 | No            |                  2 | On Loan: No      |
| Bank                                        | BANK 2020-BNK26                                              | CUSIP: 06540JBM3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2395968 | PA      | $92122.56     | 0.36%             | 2063-03-15      | Variable      | 1.19%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag              | Wells Fargo Commercial Mortgage Trust 2025-B33RP             | CUSIP: 95004RAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    350000 | PA      | $350717.71    | 1.37%             | 2042-08-15      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| JW Commercial Mortgage Trust 2              | JW Trust 2024-BERY                                           | CUSIP: 46676AAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    260000 | PA      | $260614.85    | 1.02%             | 2039-11-15      | Floating      | 5.63%                 | No            |                  2 | On Loan: No      |
| Bank                                        | BANK 2019-BNK21                                              | CUSIP: 06540BBE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3097992 | PA      | $79720.94     | 0.31%             | 2052-10-17      | Variable      | 0.83%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                | GSMS Trust 2024-Fair                                         | CUSIP: 36270JAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $308898.06    | 1.20%             | 2029-07-15      | Variable      | 5.88%                 | No            |                  2 | On Loan: No      |
| Bank                                        | BANK 2018-BNK13                                              | CUSIP: 06539LBA7<br>LEI: 549300664283JRAXM588 | Long             | ABS-MBS          | CORP              | US        |    274038 | PA      | $271997.10    | 1.06%             | 2061-08-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                    | Benchmark 2020-B18 Mortgage Trust                            | CUSIP: 08163AAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    329000 | PA      | $290855.90    | 1.13%             | 2053-07-15      | Fixed         | 1.93%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage S              | BBCMS Mortgage Trust 2022-C18                                | CUSIP: 054975AE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $318951.42    | 1.24%             | 2055-12-15      | Variable      | 5.71%                 | No            |                  2 | On Loan: No      |
| VRTX Trust                                  | VRTX Trust 2025-HQ                                           | CUSIP: 91835XAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $504513.60    | 1.97%             | 2042-08-05      | Variable      | 4.93%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage S              | BBCMS Mortgage Trust 2020-C8                                 | CUSIP: 05552ABC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    550000 | PA      | $486938.98    | 1.90%             | 2053-10-15      | Fixed         | 2.04%                 | No            |                  2 | On Loan: No      |
| arbor multifamily mortgage sec              | Arbor Multifamily Mortgage Securities Trust 2021-MF2         | CUSIP: 03881VAG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    390000 | PA      | $348998.75    | 1.36%             | 2054-06-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag              | Wells Fargo Commercial Mortgage Trust 2018-C47               | CUSIP: 95002DBR9<br>LEI: 549300VHRKFNCWVN9Y77 | Long             | ABS-MBS          | CORP              | US        |     76100 | PA      | $75696.96     | 0.29%             | 2061-09-15      | Variable      | 4.67%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank Commercial Mortg              | DBJPM 20-C9 Mortgage Trust                                   | CUSIP: 233063AT3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $267478.11    | 1.04%             | 2053-08-15      | Fixed         | 1.93%                 | No            |                  2 | On Loan: No      |
| Manhattan West                              | Manhattan West 2020-1MW Mortgage Trust                       | CUSIP: 563136AA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    287000 | PA      | $274247.33    | 1.07%             | 2039-09-10      | Fixed         | 2.13%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                    | Benchmark 2024-V6 Mortgage Trust                             | CUSIP: 081927AC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2443398 | PA      | $97247.25     | 0.38%             | 2057-03-15      | Variable      | 1.34%                 | No            |                  2 | On Loan: No      |
| CSAIL Commercial Mortgage Trus              | CSAIL 2015-C3 Commercial Mortgage Trust                      | CUSIP: 12635FAY0<br>LEI: 549300ZAGI6FKGY8O078 | Long             | ABS-MBS          | CORP              | US        |    226000 | PA      | $212235.22    | 0.83%             | 2048-08-15      | Variable      | 3.81%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage S              | BBCMS Mortgage Trust 2022-C16                                | CUSIP: 05552YAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    300000 | PA      | $298431.15    | 1.16%             | 2055-06-15      | Variable      | 4.60%                 | No            |                  2 | On Loan: No      |
| TEXAS Commercial Mortgage Trus              | TEXAS Commercial Mortgage Trust 2025-TWR                     | CUSIP: 88231WAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $499708.85    | 1.95%             | 2042-04-15      | Floating      | 5.33%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-22

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

**Signature:** Derek Maltbie

**Name of Signer:** Derek Maltbie

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