# EDGAR Filing Document

**Accession Number:** 0001517936
**File Stem:** 0001752724-23-073740
**Filing Date:** 2023-3
**Character Count:** 432119
**Document Hash:** 7edd8f723a5e14530f7265c85a0235ac
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-073740.hdr.sgml**: 20230330

**ACCESSION NUMBER**: 0001752724-23-073740

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230330

**DATE AS OF CHANGE**: 20230330

**PERIOD START**: 20231031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIRST TRUST EXCHANGE-TRADED FUND IV
- **CENTRAL INDEX KEY:** 0001517936
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** MA

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22559
- **FILM NUMBER:** 23778349

**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

### FT Cboe Vest Rising Dividend Achievers Target Income ETF (Series ID: S000077479)

| Class ID   | Class Name                                               | Ticker Symbol   |
|:---|:---|:---|
| C000237940 | FT Cboe Vest Rising Dividend Achievers Target Income ETF | RDVI            |

## Nport-Ex

---

| |
|:---|
| **First Trust North American Energy Infrastructure Fund (EMLP)** |
| **Portfolio of Investments** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
|  | **Common Stocks — 54.8%** |  |
|  | ***Construction & Engineering — 3.5%*** |  |
| 605409 | Quanta Services, Inc. | $92137196 |
|  | ***Electric Utilities — 15.8%*** |  |
| 763277 | Alliant Energy Corp. | 41239856 |
| 707048 | American Electric Power Co., Inc. | 66434230 |
| 150919 | Constellation Energy Corp. | 12882446 |
| 134977 | Duke Energy Corp. | 13828394 |
| 42941 | Emera, Inc. (CAD) | 1709830 |
| 4907212 | Enel S.p.A., ADR | 28609046 |
| 210792 | Evergy, Inc. | 13206119 |
| 320770 | Eversource Energy | 26408994 |
| 419279 | Exelon Corp. | 17689381 |
| 51333 | Fortis, Inc. (CAD) | 2109184 |
| 559229 | Iberdrola S.A., ADR | 26283763 |
| 338983 | IDACORP, Inc. | 35867791 |
| 344667 | NextEra Energy, Inc. | 25722498 |
| 92882 | Orsted A/S, ADR | 2740948 |
| 1050660 | PPL Corp. | 31099536 |
| 811850 | Southern (The) Co. | 54946008 |
| 258658 | Xcel Energy, Inc. | 17787911 |
|  |  | 418565935 |
|  | ***Energy Equipment & Services — 0.2%*** |  |
| 545344 | Archrock, Inc. | 5404359 |
|  | ***Gas Utilities — 5.9%*** |  |
| 3239648 | AltaGas Ltd. (CAD) | 60578289 |
| 248960 | Atmos Energy Corp. | 29262758 |
| 12261 | Chesapeake Utilities Corp. | 1545867 |
| 460920 | National Fuel Gas Co. | 26761015 |
| 129707 | New Jersey Resources Corp. | 6474974 |
| 337929 | ONE Gas, Inc. | 27831832 |
| 100432 | UGI Corp. | 4000207 |
|  |  | 156454942 |
|  | ***Independent Power and Renewable Electricity Producers — 0.9%*** |  |
| 476096 | AES (The) Corp. | 13049791 |
| 240378 | Clearway Energy, Inc., Class A | 7704115 |
| 107396 | Northland Power, Inc. (CAD) | 2884772 |
|  |  | 23638678 |
|  | ***Multi-Utilities — 9.8%*** |  |
| 1125187 | ATCO Ltd., Class I (CAD) | 35805056 |
| 82129 | Canadian Utilities Ltd., Class A (CAD) | 2282613 |
| 382537 | CenterPoint Energy, Inc. | 11522015 |
| 303349 | CMS Energy Corp. | 19168623 |
| 277236 | DTE Energy Co. | 32261953 |
| 1121480 | Public Service Enterprise Group, Inc. | 69453256 |
| 454768 | Sempra Energy | 72912953 |

---

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Description** | **Value** |
|  | **Common Stocks (Continued)** |  |
|  | ***Multi-Utilities (Continued)*** |  |
| 179043 | WEC Energy Group, Inc. | $16828252 |
|  |  | 260234721 |
|  | ***Oil, Gas & Consumable Fuels — 18.5%*** |  |
| 451676 | Cheniere Energy, Inc. | 69011576 |
| 1509676 | DT Midstream, Inc. | 82518890 |
| 907384 | Enbridge, Inc. | 37175523 |
| 2099955 | Keyera Corp. (CAD) | 47900217 |
| 3935336 | Kinder Morgan, Inc. | 72016649 |
| 802765 | ONEOK, Inc. | 54973347 |
| 565269 | Targa Resources Corp. | 42406480 |
| 522889 | TC Energy Corp. | 22557432 |
| 1900309 | Williams (The) Cos., Inc. | 61265962 |
|  |  | 489826076 |
|  | ***Semiconductors & Semiconductor Equipment — 0.1%*** |  |
| 15023 | Enphase Energy, Inc. (a) | 3325792 |
|  | ***Water Utilities — 0.1%*** |  |
| 16788 | American Water Works Co., Inc. | 2627154 |
|  | **Total Common Stocks — 54.8%** | 1452214853 |
|  | (Cost $1,165,701,162) |  |
|  | **Master Limited Partnerships — 33.3%** |  |
|  | ***Chemicals — 0.6%*** |  |
| 624519 | Westlake Chemical Partners, L.P. | 15962706 |
|  | ***Energy Equipment & Services — 0.1%*** |  |
| 156463 | USA Compression Partners, L.P. | 3238784 |
|  | ***Independent Power and Renewable Electricity Producers — 3.6%*** |  |
| 1286335 | NextEra Energy Partners, L.P. (b) | 94288356 |
|  | ***Oil, Gas & Consumable Fuels — 29.0%*** |  |
| 709407 | Cheniere Energy Partners, L.P. | 38712340 |
| 11807138 | Energy Transfer, L.P. | 156798793 |
| 620014 | EnLink Midstream LLC (b) | 7886578 |
| 7056609 | Enterprise Products Partners, L.P. | 180649190 |
| 878830 | Hess Midstream, L.P., Class A (b) | 27138270 |
| 1752224 | Holly Energy Partners, L.P. | 33046945 |
| 2905320 | Magellan Midstream Partners, L.P. | 155144088 |
| 1598326 | MPLX, L.P. | 55813544 |
| 8062485 | Plains GP Holdings, L.P., Class A (b) | 105537929 |

---

---

| |
|:---|
| **First Trust North American Energy Infrastructure Fund (EMLP)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Description** | **Value** |
|  | **Master Limited Partnerships (Continued)** |  |
|  | ***Oil, Gas & Consumable Fuels (Continued)*** |  |
| 242876 | Western Midstream Partners, L.P. | $6562509 |
|  |  | 767290186 |
|  | **Total Master Limited Partnerships — 33.3%** | 880780032 |
|  | (Cost $616,676,466) |  |
|  | **Money Market Funds — 10.2%** |  |
| 271192430 | Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class - 4.12% (c) | 271192430 |
|  | (Cost $271,192,430) |  |
|  | **Total Investments — 98.3%** | 2604187315 |
|  | (Cost $2,053,570,058) |  |
|  | **Net Other Assets and Liabilities — 1.7%** | 45499678 |
|  | **Net Assets — 100.0%** | $2649686993 |

---

(a) Non-income producing security.

(b) This security is taxed as a "C" corporation for federal income tax purposes.

(c) Rate shown reflects yield as of January 31, 2023.

---

| | |
|:---|:---|
| ADR | American Depositary Receipt |
| Currency Abbreviations: | Currency Abbreviations: |
| CAD | Canadian Dollar |

---

---

| |
|:---|
| **First Trust North American Energy Infrastructure Fund (EMLP)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| |
|:---|
| **Valuation Inputs** |
| A summary of the inputs used to value the Fund's investments as of January 31, 2023 is as follows (see Valuation Inputs in the Additional Information section): |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> Value at<br> 1/31/2023** | **Level 1<br> Quoted<br> Prices** | **Level 2<br> Significant<br> Observable<br> Inputs** | **Level 3<br> Significant<br> Unobservable<br> Inputs** |
| Common Stocks\* | $1452214853 | $1452214853 | $— | $— |
| Master Limited Partnerships\* | 880780032 | 880780032 |  |  |
| Money Market Funds | 271192430 | 271192430 |  |  |
| Total Investments | $2604187315 | $2604187315 | $— | $— |
| \* See Portfolio of Investments for industry breakout. | \* See Portfolio of Investments for industry breakout. | \* See Portfolio of Investments for industry breakout. | \* See Portfolio of Investments for industry breakout. | \* See Portfolio of Investments for industry breakout. |

---

---

| |
|:---|
| **First Trust EIP Carbon Impact ETF (ECLN)** |
| **Portfolio of Investments** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
|  | **Common Stocks — 80.2%** |  |
|  | ***Construction & Engineering — 4.1%*** |  |
| 9550 | Quanta Services, Inc. | $1453415 |
|  | ***Electric Utilities — 27.1%*** |  |
| 18313 | Alliant Energy Corp. | 989451 |
| 11311 | American Electric Power Co., Inc. | 1062782 |
| 2100 | Constellation Energy Corp. | 179256 |
| 2413 | Duke Energy Corp. | 247212 |
| 862 | Edison International | 59392 |
| 8271 | Emera, Inc. (CAD) | 329336 |
| 76444 | Enel S.p.A., ADR | 445668 |
| 8212 | Evergy, Inc. | 514482 |
| 6740 | Eversource Energy | 554904 |
| 4052 | Fortis, Inc. (CAD) | 166490 |
| 12708 | Hydro One Ltd. (CAD) (a) (b) | 347463 |
| 10526 | Iberdrola S.A., ADR | 494722 |
| 8297 | IDACORP, Inc. | 877906 |
| 4507 | NextEra Energy, Inc. | 336357 |
| 6173 | OGE Energy Corp. | 242722 |
| 461 | Orsted A/S (DKK) (a) (b) (c) | 41053 |
| 24939 | PPL Corp. | 738194 |
| 14759 | Southern (The) Co. | 998889 |
| 12887 | Xcel Energy, Inc. | 886239 |
|  |  | 9512518 |
|  | ***Gas Utilities — 9.7%*** |  |
| 64860 | AltaGas Ltd. (CAD) | 1212820 |
| 10658 | Atmos Energy Corp. | 1252741 |
| 1984 | Chesapeake Utilities Corp. | 250143 |
| 1536 | New Jersey Resources Corp. | 76677 |
| 7523 | ONE Gas, Inc. | 619594 |
|  |  | 3411975 |
|  | ***Independent Power and Renewable Electricity Producers — 8.4%*** |  |
| 22037 | AES (The) Corp. | 604034 |
| 4556 | Brookfield Renewable Corp., Class A (CAD) | 143506 |
| 32186 | Clearway Energy, Inc., Class A | 1031561 |
| 32910 | EDP Renovaveis S.A. (EUR) (c) | 715826 |
| 7774 | Encavis AG (EUR) (c) | 150624 |
| 11340 | Northland Power, Inc. (CAD) | 304605 |
|  |  | 2950156 |
|  | ***Mortgage Real Estate Investment Trusts — 2.5%*** |  |
| 24101 | Hannon Armstrong Sustainable Infrastructure Capital, Inc. | 889568 |
|  | ***Multi-Utilities — 14.7%*** |  |
| 13682 | ATCO Ltd., Class I (CAD) | 435381 |
| 9990 | CenterPoint Energy, Inc. | 300899 |
| 7857 | CMS Energy Corp. | 496484 |
| 6893 | DTE Energy Co. | 802138 |
| 18950 | Public Service Enterprise Group, Inc. | 1173574 |
| 7803 | Sempra Energy | 1251055 |

---

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Description** | **Value** |
|  | **Common Stocks (Continued)** |  |
|  | ***Multi-Utilities (Continued)*** |  |
| 7379 | WEC Energy Group, Inc. | $693552 |
|  |  | 5153083 |
|  | ***Oil, Gas & Consumable Fuels — 12.2%*** |  |
| 6104 | Cheniere Energy, Inc. | 932630 |
| 30204 | DT Midstream, Inc. | 1650951 |
| 10671 | Targa Resources Corp. | 800538 |
| 27924 | Williams (The) Cos., Inc. | 900270 |
|  |  | 4284389 |
|  | ***Semiconductors & Semiconductor Equipment — 1.0%*** |  |
| 1627 | Enphase Energy, Inc. (d) | 360185 |
|  | ***Water Utilities — 0.5%*** |  |
| 1058 | American Water Works Co., Inc. | 165566 |
|  | **Total Common Stocks — 80.2%** | 28180855 |
|  | (Cost $26,187,665) |  |
|  | **Master Limited Partnerships — 7.9%** |  |
|  | ***Independent Power and Renewable Electricity Producers — 4.9%*** |  |
| 25185 | Brookfield Renewable Partners, L.P. (CAD) | 733470 |
| 13625 | NextEra Energy Partners, L.P. (e) | 998713 |
|  |  | 1732183 |
|  | ***Oil, Gas & Consumable Fuels — 3.0%*** |  |
| 19049 | Cheniere Energy Partners, L.P. | 1039504 |
|  | **Total Master Limited Partnerships — 7.9%** | 2771687 |
|  | (Cost $2,571,214) |  |
|  | **Money Market Funds — 12.2%** |  |
| 4298149 | Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class - 4.12% (f) | 4298149 |
|  | (Cost $4,298,149) |  |
|  | **Total Investments — 100.3%** | 35250691 |
|  | (Cost $33,057,028) |  |
|  | **Net Other Assets and Liabilities — (0.3)%** | (101213) |
|  | **Net Assets — 100.0%** | $35149478 |

---

---

| |
|:---|
| **First Trust EIP Carbon Impact ETF (ECLN)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

(a) This security is exempt from registration upon resale under Rule 144A of the Securities Act of 1933, as amended (the "1933 Act") and may be resold in transactions exempt from registration, normally to qualified institutional buyers. This security is not restricted on the foreign exchange where it trades freely without any additional registration. As such, it does not require the additional disclosure required of restricted securities.

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

(c) This security is fair valued by the Advisor's Pricing Committee in accordance with procedures approved by the Trust's Board of Trustees, and in accordance with provisions of the Investment Company Act of 1940 and rules thereunder, as amended. At January 31, 2023, securities noted as such are valued at $907,503 or 2.6% of net assets. Certain of these securities are fair valued using a factor provided by a third-party pricing service due to the change in value between the foreign markets' close and the New York Stock Exchange ("NYSE") close exceeding a certain threshold. On days when this threshold is not exceeded, these securities are typically valued at the last sale price on the exchange on which they are principally traded.

(d) Non-income producing security.

(e) This security is taxed as a "C" corporation for federal income tax purposes.

(f) Rate shown reflects yield as of January 31, 2023.

ADR - American Depositary Receipt <br>

Currency Abbreviations:

CAD - Canadian Dollar <br> DKK - Danish Krone <br> EUR - Euro

---

| |
|:---|
| **First Trust EIP Carbon Impact ETF (ECLN)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| |
|:---|
| **Valuation Inputs** |
| A summary of the inputs used to value the Fund's investments as of January 31, 2023 is as follows (see Valuation Inputs in the Additional Information section):  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> Value at<br> 1/31/2023** | **Level 1<br> Quoted<br> Prices** | **Level 2<br> Significant<br> Observable<br> Inputs** | **Level 3<br> Significant<br> Unobservable<br> Inputs** |
| Common Stocks: |  |  |  |  |
| Electric Utilities | $9512518 | $9471465 | $41053 | $— |
| Independent Power and Renewable Electricity Producers | 2950156 | 2083706 | 866450 |  |
| Other Industry Categories\* | 15718181 | 15718181 |  |  |
| Master Limited Partnerships\* | 2771687 | 2771687 |  |  |
| Money Market Funds | 4298149 | 4298149 |  |  |
| Total Investments | $35250691 | $34343188 | $907503 | $— |
| \* See Portfolio of Investments for industry breakout. | \* See Portfolio of Investments for industry breakout. | \* See Portfolio of Investments for industry breakout. | \* See Portfolio of Investments for industry breakout. | \* See Portfolio of Investments for industry breakout. |

---

---

| |
|:---|
| **FT Energy Income Partners Strategy ETF (EIPX)** |
| **Portfolio of Investments** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
|  | **Common Stocks — 71.5%** |  |
|  | ***Construction & Engineering — 2.1%*** |  |
| 14553 | Quanta Services, Inc. | $2214821 |
|  | ***Electric Utilities — 7.6%*** |  |
| 9769 | Alliant Energy Corp. | 527819 |
| 11641 | American Electric Power Co., Inc. | 1093789 |
| 234617 | Enel S.p.A., ADR | 1367817 |
| 4673 | Entergy Corp. | 505993 |
| 8417 | Evergy, Inc. | 527325 |
| 6649 | Eversource Energy | 547412 |
| 6649 | Exelon Corp. | 280521 |
| 25577 | Iberdrola S.A., ADR | 1202119 |
| 6545 | NextEra Energy, Inc. | 488453 |
| 19545 | PPL Corp. | 578532 |
| 15801 | Southern (The) Co. | 1069412 |
|  |  | 8189192 |
|  | ***Energy Equipment & Services — 5.5%*** |  |
| 136961 | Archrock, Inc. | 1357283 |
| 10081 | Cactus, Inc., Class A | 545483 |
| 28489 | Halliburton Co. | 1174317 |
| 2905 | Nabors Industries Ltd. (a) | 515754 |
| 23081 | NOV, Inc. | 564100 |
| 20065 | Schlumberger Ltd. | 1143304 |
| 16321 | Tenaris S.A., ADR | 578579 |
|  |  | 5878820 |
|  | ***Gas Utilities — 5.8%*** |  |
| 119697 | AltaGas Ltd. (CAD) | 2238218 |
| 9665 | Atmos Energy Corp. | 1136024 |
| 30777 | National Fuel Gas Co. | 1786913 |
| 12889 | ONE Gas, Inc. | 1061538 |
|  |  | 6222693 |
|  | ***Independent Power and Renewable Electricity Producers — 1.2%*** |  |
| 9552 | AES (The) Corp. | 261820 |
| 31921 | Clearway Energy, Inc., Class A | 1023068 |
|  |  | 1284888 |
|  | ***Multi-Utilities — 7.2%*** |  |
| 67697 | ATCO Ltd., Class I (CAD) | 2154215 |
| 8937 | CMS Energy Corp. | 564729 |
| 4569 | DTE Energy Co. | 531694 |
| 36913 | Public Service Enterprise Group, Inc. | 2286022 |
| 13617 | Sempra Energy | 2183214 |
|  |  | 7719874 |
|  | ***Oil, Gas & Consumable Fuels — 42.0%*** |  |
| 156825 | BP PLC, ADR | 5681770 |
| 12889 | Canadian Natural Resources Ltd. (CAD) | 791135 |
| 25265 | Cenovus Energy, Inc. (CAD) | 504711 |

---

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Description** | **Value** |
|  | **Common Stocks (Continued)** |  |
|  | ***Oil, Gas & Consumable Fuels (Continued)*** |  |
| 6929 | Cheniere Energy, Inc. | $1058682 |
| 5609 | Chevron Corp. | 976078 |
| 25265 | Coterra Energy, Inc. | 632383 |
| 4777 | Diamondback Energy, Inc. | 698015 |
| 36095 | DT Midstream, Inc. | 1972953 |
| 26617 | Enbridge, Inc. | 1090499 |
| 5609 | EOG Resources, Inc. | 741790 |
| 18505 | Exxon Mobil Corp. | 2146765 |
| 37745 | Imperial Oil Ltd. (CAD) | 2062919 |
| 97753 | Keyera Corp. (CAD) | 2229757 |
| 228377 | Kinder Morgan, Inc. | 4179299 |
| 17257 | ONEOK, Inc. | 1181759 |
| 3529 | PDC Energy, Inc. | 239019 |
| 3009 | Pioneer Natural Resources Co. | 693123 |
| 27553 | Range Resources Corp. | 689376 |
| 126225 | Shell PLC, ADR | 7423292 |
| 5609 | SM Energy Co. | 184368 |
| 114809 | Southwestern Energy Co. (a) | 633746 |
| 7481 | Targa Resources Corp. | 561225 |
| 23705 | TC Energy Corp. | 1022634 |
| 90039 | TotalEnergies SE, ADR | 5586020 |
| 13617 | Tourmaline Oil Corp. (CAD) | 634617 |
| 7793 | Vital Energy, Inc. (a) | 438590 |
| 31089 | Williams (The) Cos., Inc. | 1002309 |
|  |  | 45056834 |
|  | ***Semiconductors & Semiconductor Equipment — 0.1%*** |  |
| 721 | Enphase Energy, Inc. (a) | 159615 |
|  | **Total Common Stocks — 71.5%** | 76726737 |
|  | (Cost $75,224,496) |  |
|  | **Master Limited Partnerships — 26.7%** |  |
|  | ***Energy Equipment & Services — 0.6%*** |  |
| 28697 | USA Compression Partners, L.P. | 594028 |
|  | ***Independent Power and Renewable Electricity Producers — 0.9%*** |  |
| 13721 | NextEra Energy Partners, L.P. (b) | 1005749 |
|  | ***Oil, Gas & Consumable Fuels — 25.2%*** |  |
| 31297 | Alliance Resource Partners, L.P. | 717640 |
| 64301 | Cheniere Energy Partners, L.P. | 3508906 |
| 408609 | Energy Transfer, L.P. | 5426327 |
| 238673 | Enterprise Products Partners, L.P. | 6110029 |
| 17777 | Hess Midstream, L.P., Class A (b) | 548954 |
| 26929 | Kimbell Royalty Partners L.P. (b) | 438673 |
| 77681 | Magellan Midstream Partners, L.P. | 4148165 |
| 60313 | MPLX, L.P. | 2106130 |
| 6025 | Natural Resource Partners, L.P. | 326495 |
| 242209 | Plains GP Holdings, L.P., Class A (b) | 3170516 |

---

---

| |
|:---|
| **FT Energy Income Partners Strategy ETF (EIPX)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **Shares/Units** | **Description** | **Value** |
|  | **Master Limited Partnerships (Continued)** |  |
|  | ***Oil, Gas & Consumable Fuels (Continued)*** |  |
| 25348 | TXO Energy Partners L.P. (a) | $567795 |
|  |  | 27069630 |
|  | **Total Master Limited Partnerships — 26.7%** | 28669407 |
|  | (Cost $27,510,302) |  |
|  | **Money Market Funds — 1.6%** |  |
| 1688988 | Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class - 4.12% (c) | 1688988 |
|  | (Cost $1,688,988) |  |
|  | **Total Investments — 99.8%** | 107085132 |
|  | (Cost $104,423,786) |  |
|  | **Net Other Assets and Liabilities — 0.2%** | 206105 |
|  | **Net Assets — 100.0%** | $107291237 |

---

(a) Non-income producing security.

(b) This security is taxed as a "C" corporation for federal income tax purposes.

(c) Rate shown reflects yield as of January 31, 2023.

---

| | |
|:---|:---|
| ADR | American Depositary Receipt |
| Currency Abbreviations: | Currency Abbreviations: |
| CAD | Canadian Dollar |

---

---

| |
|:---|
| **FT Energy Income Partners Strategy ETF (EIPX)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| |
|:---|
| **Valuation Inputs** |
| A summary of the inputs used to value the Fund's investments as of January 31, 2023 is as follows (see Valuation Inputs in the Additional Information section): |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> Value at<br> 1/31/2023** | **Level 1<br> Quoted<br> Prices** | **Level 2<br> Significant<br> Observable<br> Inputs** | **Level 3<br> Significant<br> Unobservable<br> Inputs** |
| Common Stocks\* | $76726737 | $76726737 | $— | $— |
| Master Limited Partnerships\* | 28669407 | 28669407 |  |  |
| Money Market Funds | 1688988 | 1688988 |  |  |
| Total Investments | $107085132 | $107085132 | $— | $— |
| \* See Portfolio of Investments for industry breakout. | \* See Portfolio of Investments for industry breakout. | \* See Portfolio of Investments for industry breakout. | \* See Portfolio of Investments for industry breakout. | \* See Portfolio of Investments for industry breakout. |

---

**Additional Information**

**First Trust Exchange-Traded Fund IV**

**January 31, 2023 (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.

---

| |
|:---|
| **First Trust Senior Loan Fund (FTSL)** |
| **Portfolio of Investments** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Rate (a)** | **Stated<br> Maturity (b)** | **Value** |
| **SENIOR FLOATING-RATE LOAN INTERESTS — 83.0%** | **SENIOR FLOATING-RATE LOAN INTERESTS — 83.0%** | **SENIOR FLOATING-RATE LOAN INTERESTS — 83.0%** | **SENIOR FLOATING-RATE LOAN INTERESTS — 83.0%** | |
|  | **Application Software — 13.5%** |  |  |  |
| $20782973 | Applied Systems, Inc., Term Loan (First Lien), 3 Mo. LIBOR + 3.00%, 0.50% Floor | 7.73% | 09/19/24 | $20839294 |
| 1999465 | AppLovin Corp., Amendment No. 6 New Term Loan, 3 Mo. SOFR + 3.00%, 0.50% Floor | 7.69% | 10/25/28 | 1965104 |
| 830654 | CCC Intelligent Solutions, Inc., Term Loan B, 1 Mo. LIBOR + 2.25%, 0.50% Floor | 6.80% | 09/21/28 | 830031 |
| 8311474 | ConnectWise LLC, Term Loan B, 1 Mo. LIBOR + 3.50%, 0.50% Floor | 8.07% | 09/30/28 | 8030962 |
| 23169120 | Epicor Software Corp., Term Loan C (First Lien), 1 Mo. LIBOR + 3.25%, 0.75% Floor | 7.82% | 07/30/27 | 22795981 |
| 1032485 | Flexera Software LLC, 2020 Term Loan B, 1 Mo. LIBOR + 3.75%, 0.75% Floor | 8.32% | 01/26/28 | 1022991 |
| 30883266 | Gainwell Acquisition Corp. (fka Milano), Term Loan B, 3 Mo. LIBOR + 4.00%, 0.75% Floor | 8.73% | 10/01/27 | 30219276 |
| 24408033 | Greeneden U.S. Holdings II LLC (Genesys Telecommunications Laboratories, Inc.), Initial Dollar Term Loan, 1 Mo. LIBOR + 4.00%, 0.75% Floor | 8.57% | 12/01/27 | 24013966 |
| 10329814 | Hyland Software, Inc., Term Loan (Second Lien), 1 Mo. LIBOR + 6.25%, 0.75% Floor | 10.82% | 07/10/25 | 9868639 |
| 2865410 | Informatica Corp., Term Loan B, 1 Mo. LIBOR + 2.75%, 0.00% Floor | 7.38% | 10/29/28 | 2864507 |
| 23686934 | Internet Brands, Inc. (WebMD/MH Sub I LLC), 2020 June New Term Loan, 1 Mo. LIBOR + 3.75%, 1.00% Floor | 8.32% | 09/15/24 | 23479674 |
| 52559194 | Internet Brands, Inc. (WebMD/MH Sub I LLC), Initial Term Loan, 1 Mo. LIBOR + 3.75%, 0.00% Floor | 8.32% | 09/13/24 | 52070657 |
| 11578646 | Internet Brands, Inc. (WebMD/MH Sub I LLC), Term Loan (Second Lien), 3 Mo. SOFR + 6.25%, 0.00% Floor | 10.65% | 02/23/29 | 10478675 |
| 5851976 | ION Trading Technologies Ltd., Term Loan B, 3 Mo. LIBOR + 4.75%, 0.00% Floor | 9.48% | 04/01/28 | 5683001 |
| 30759408 | LogMeIn, Inc. (GoTo Group, Inc.), Term Loan B, 1 Mo. LIBOR + 4.75%, 0.00% Floor | 9.30% | 08/31/27 | 17263718 |
| 21867041 | McAfee Corp. (Condor Merger Sub, Inc.), Tranche B-1 Term Loan, 1 Mo. SOFR + 3.75%, 0.50% Floor | 8.18% | 02/28/29 | 20695186 |
| 21548535 | Open Text Corp. (GSX), Term Loan B, 1 Mo. LIBOR + 1.75%, 0.00% Floor | 6.32% | 05/30/25 | 21494664 |
| 17532302 | Open Text Corp. (GXS), New Term Loan B, 1 Mo. SOFR + 3.50%, 0.50% Floor | 8.16% | 12/31/29 | 17532302 |
| 14335603 | RealPage, Inc., Term Loan (Second Lien), 1 Mo. LIBOR + 6.50%, 0.75% Floor | 11.07% | 04/22/29 | 13887615 |
| 27759294 | RealPage, Inc., Term Loan B, 1 Mo. LIBOR + 3.00%, 0.50% Floor | 7.57% | 04/24/28 | 27129574 |
| 25751931 | SolarWinds Holdings, Inc., Extended Term Loan B, 1 Mo. SOFR + 4.00%, 0.00% Floor | 8.56% | 02/17/27 | 25814380 |
| 318750 | Solera Holdings, Inc. (Polaris Newco), Term Loan B, 3 Mo. LIBOR + 4.00%, 0.50% Floor | 8.73% | 06/04/28 | 303361 |
| 372639 | Tenable, Inc., Term Loan B, 3 Mo. LIBOR + 2.75%, 0.50% Floor | 7.58% | 07/07/28 | 368447 |
| 680012 | Ultimate Kronos Group (UKG, Inc.), 2021 Term Loan, 3 Mo. LIBOR + 3.25%, 0.50% Floor | 8.03% | 05/03/26 | 670071 |
| 3943178 | Veeam Software Holdings Ltd. (VS Buyer LLC), Term Loan B, 1 Mo. LIBOR + 3.00%, 0.00% Floor | 7.70% | 02/28/27 | 3927169 |
|  |  |  |  | 363249245 |

---

---

| |
|:---|
| **First Trust Senior Loan Fund (FTSL)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Rate (a)** | **Stated<br> Maturity (b)** | **Value** |
| **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** |
|  | **Asset Management & Custody Banks — 1.4%** |  |  |  |
| $15451614 | Edelman Financial Engines Center LLC, Term Loan (Second Lien), 1 Mo. LIBOR + 6.75%, 0.00% Floor | 11.32% | 07/20/26 | $14585706 |
| 22631489 | Edelman Financial Engines Center LLC, Term Loan B, 1 Mo. LIBOR + 3.50%, 0.75% Floor | 8.07% | 04/07/28 | 22217106 |
|  |  |  |  | 36802812 |
|  | **Auto Parts & Equipment — 0.3%** |  |  |  |
| 9186973 | Clarios Global L.P. (Power Solutions), Term Loan B, 1 Mo. LIBOR + 3.25%, 0.00% Floor | 7.82% | 04/30/26 | 9176316 |
|  | **Broadcasting — 2.9%** |  |  |  |
| 962832 | E.W. Scripps Co., Tranche B-3 Term Loan, 1 Mo. LIBOR + 2.75%, 0.75% Floor | 7.32% | 01/07/28 | 960497 |
| 13025358 | Gray Television, Inc., Term Loan B2, 1 Mo. LIBOR + 2.50%, 0.00% Floor | 6.87% - 6.88% | 02/07/24 | 13043268 |
| 7369088 | Gray Television, Inc., Term Loan C, 1 Mo. LIBOR + 2.50%, 0.00% Floor | 6.87% | 01/02/26 | 7350666 |
| 24939453 | iHeartCommunications, Inc., Second Amendment Incremental Term Loan B, 1 Mo. LIBOR + 3.25%, 0.50% Floor | 7.82% | 05/01/26 | 24682327 |
| 6502712 | iHeartCommunications, Inc., Term Loan B, 1 Mo. LIBOR + 3.00%, 0.00% Floor | 7.57% | 05/01/26 | 6421883 |
| 17030209 | Nexstar Broadcasting, Inc., Incremental Term Loan B-4, 1 Mo. LIBOR + 2.50%, 0.00% Floor | 7.07% | 09/19/26 | 17058565 |
| 9329212 | Univision Communications, Inc., 2021 Replacement New Term Loan (First Lien), 1 Mo. LIBOR + 3.25%, 0.75% Floor | 7.82% | 03/15/26 | 9248234 |
|  |  |  |  | 78765440 |
|  | **Building Products — 0.1%** |  |  |  |
| 2122105 | Hunter Douglas, Inc. (Solis), Term Loan B, 3 Mo. SOFR + 3.50%, 0.50% Floor | 7.86% | 02/28/29 | 1956984 |
| 370862 | Quikrete Holdings, Inc., Term Loan B-1, 1 Mo. LIBOR + 3.00%, 0.00% Floor | 7.57% | 03/18/29 | 370061 |
|  |  |  |  | 2327045 |
|  | **Cable & Satellite — 2.2%** |  |  |  |
| 15999886 | Cablevision (aka CSC Holdings LLC), March 2017 Term Loan B-1, 1 Mo. LIBOR + 2.25%, 0.00% Floor | 6.71% | 07/17/25 | 15479889 |
| 42797986 | Charter Communications Operating LLC, Term Loan B1, 1 Mo. LIBOR + 1.75%, 0.00% Floor | 6.32% | 04/30/25 | 42782151 |
|  |  |  |  | 58262040 |
|  | **Casinos & Gaming — 1.3%** |  |  |  |
| 9105736 | Caesars Resort Collection LLC, Term Loan B, 1 Mo. LIBOR + 2.75%, 0.00% Floor | 7.32% | 12/22/24 | 9109423 |
| 24808256 | Golden Nugget, Inc. (Fertitta Entertainment LLC), Initial Term Loan B, 1 Mo. SOFR + 4.00%, 0.50% Floor | 8.56% | 01/27/29 | 24561910 |
| 497500 | Light & Wonder (FKA Scientific Games International, Inc.), Term Loan B, 1 Mo. SOFR + 3.00%, 0.50% Floor | 7.58% | 04/07/29 | 497677 |
| 1695430 | Scientific Games Holdings L.P. (Scientific Games Lottery), Initial Dollar Term Loan, 3 Mo. SOFR + 3.50%, 0.50% Floor | 8.10% | 04/04/29 | 1670482 |
|  |  |  |  | 35839492 |

---

---

| |
|:---|
| **First Trust Senior Loan Fund (FTSL)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Rate (a)** | **Stated<br> Maturity (b)** | **Value** |
| **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** |
|  | **Communications Equipment — 0.1%** |  |  |  |
| $2590990 | Commscope, Inc., Term Loan B, 1 Mo. LIBOR + 3.25%, 0.00% Floor | 7.82% | 04/06/26 | $2544028 |
|  | **Education Services — 0.2%** |  |  |  |
| 5867674 | Ascensus Holdings, Inc. (Mercury), Term Loan (First Lien), 3 Mo. LIBOR + 3.50%, 0.50% Floor | 8.25% | 08/02/28 | 5698978 |
|  | **Electric Utilities — 2.8%** |  |  |  |
| 74365745 | PG&E Corp., Term Loan B, 1 Mo. LIBOR + 3.00%, 0.50% Floor | 7.63% | 06/23/25 | 74393632 |
|  | **Electronic Equipment & Instruments — 0.6%** |  |  |  |
| 2730819 | Chamberlain Group, Inc. (Chariot), Term Loan B, 1 Mo. LIBOR + 3.25%, 0.50% Floor | 7.82% | 11/03/28 | 2641317 |
| 14691181 | Verifone Systems, Inc., Term Loan B, 3 Mo. LIBOR + 4.00%, 0.00% Floor | 8.36% | 08/20/25 | 13856942 |
|  |  |  |  | 16498259 |
|  | **Environmental & Facilities Services — 0.9%** |  |  |  |
| 10774072 | GFL Environmental, Inc., Extended Term Loan B, 1 Mo. SOFR + 3.00%, 0.50% Floor | 7.66% | 05/31/27 | 10814475 |
| 13986093 | Packers Holdings LLC (PSSI), Term Loan B, 1 Mo. LIBOR + 3.25%, 0.75% Floor | 7.71% | 03/15/28 | 12995458 |
|  |  |  |  | 23809933 |
|  | **Food Distributors — 0.2%** |  |  |  |
| 6255505 | US Foods, Inc., 2019 Incremental Term Loan B, 1 Mo. LIBOR + 2.00%, 0.00% Floor | 6.57% | 08/31/26 | 6253378 |
|  | **Health Care Equipment — 0.0%** |  |  |  |
| 911030 | Embecta Corp., Initial Term Loan, 6 Mo. SOFR + 3.00%, 0.50% Floor | 7.79% | 03/31/29 | 896609 |
|  | **Health Care Facilities — 0.9%** |  |  |  |
| 16679817 | Ardent Health Services, Inc. (AHP Health Partners, Inc.), Term Loan B, 1 Mo. LIBOR + 3.50%, 0.50% Floor | 8.07% | 08/24/28 | 16565144 |
| 7995742 | Select Medical Corp., Term Loan B, 1 Mo. LIBOR + 2.50%, 0.00% Floor | 7.07% | 03/06/25 | 7970755 |
|  |  |  |  | 24535899 |
|  | **Health Care Services — 2.8%** |  |  |  |
| 23966821 | ADMI Corp. (Aspen Dental), 2020 Incremental Term Loan B2, 1 Mo. LIBOR + 3.38%, 0.50% Floor | 7.94% | 12/23/27 | 22151334 |
| 3213603 | ADMI Corp. (Aspen Dental), 2021 Incremental Term Loan B3, 1 Mo. LIBOR + 3.75%, 0.50% Floor | 8.32% | 12/23/27 | 2977934 |
| 7323508 | Aveanna Healthcare LLC, 2021 Term Loan B, 1 Mo. LIBOR + 3.75%, 0.50% Floor | 8.30% | 07/15/28 | 6023586 |
| 1003584 | Aveanna Healthcare LLC, Delayed Draw Term Loan, 1 Mo. LIBOR + 3.75%, 0.50% Floor | 8.30% | 07/15/28 | 825448 |
| 21149764 | CHG Healthcare Services, Inc., Term Loan B, 1 Mo. LIBOR + 3.25%, 0.50% Floor | 7.82% | 09/30/28 | 21042746 |
| 12032246 | DaVita, Inc., Term Loan B, 1 Mo. LIBOR + 1.75%, 0.00% Floor | 6.32% | 08/12/26 | 11914210 |
| 2348106 | ExamWorks Group, Inc. (Electron Bidco), Term Loan B, 1 Mo. LIBOR + 3.00%, 0.50% Floor | 7.57% | 10/29/28 | 2338032 |

---

---

| |
|:---|
| **First Trust Senior Loan Fund (FTSL)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Rate (a)** | **Stated<br> Maturity (b)** | **Value** |
| **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** |
|  | **Health Care Services (Continued)** |  |  |  |
| $10467780 | Global Medical Response, Inc. (fka Air Medical), 2018 New Term Loan, 1 Mo. LIBOR + 4.25%, 1.00% Floor | 8.82% | 03/14/25 | $7746157 |
| 1353329 | Global Medical Response, Inc. (fka Air Medical), 2021 Refinancing Term Loan, 1 Mo. LIBOR + 4.25%, 1.00% Floor | 8.65% | 10/02/25 | 1006538 |
|  |  |  |  | 76025985 |
|  | **Health Care Supplies — 1.5%** |  |  |  |
| 40655799 | Medline Borrower L.P. (Mozart), Initial Dollar Term Loan, 1 Mo. LIBOR + 3.25%, 0.50% Floor | 7.82% | 10/21/28 | 39551790 |
|  | **Health Care Technology — 9.6%** |  |  |  |
| 37356833 | athenahealth, Inc. (Minerva Merger Sub, Inc.), Term Loan B, 1 Mo. SOFR + 3.50%, 0.50% Floor | 8.01% | 02/15/29 | 35504495 |
| 17589359 | Ciox Health (Healthport/CT Technologies Intermediate Holdings, Inc.), New Term Loan B, 1 Mo. LIBOR + 4.25%, 0.75% Floor | 8.82% | 12/16/25 | 16894579 |
| 7615486 | Ensemble RCM LLC (Ensemble Health), Term Loan B, 3 Mo. SOFR + 3.75%, 0.00% Floor | 8.53% | 08/01/26 | 7625462 |
| 25859713 | Mediware (Wellsky/Project Ruby Ultimate Parent Corp.), Term Loan B, 1 Mo. LIBOR + 3.25%, 0.75% Floor | 7.82% | 03/10/28 | 25051597 |
| 20758423 | Navicure, Inc. (Waystar Technologies, Inc.), Term Loan B, 1 Mo. LIBOR + 4.00%, 0.00% Floor | 8.57% | 10/23/26 | 20667709 |
| 91023892 | Verscend Technologies, Inc. (Cotiviti), New Term Loan B-1, 1 Mo. LIBOR + 4.00%, 0.00% Floor | 8.57% | 08/27/25 | 91048013 |
| 62040223 | Zelis Payments Buyer, Inc., New Term Loan B-1, 1 Mo. LIBOR + 3.50%, 0.00% Floor | 8.07% | 09/30/26 | 61998656 |
|  |  |  |  | 258790511 |
|  | **Hotels, Resorts & Cruise Lines — 1.4%** |  |  |  |
| 1765763 | Alterra Mountain Company, Term Loan B-2, 1 Mo. LIBOR + 3.50%, 0.50% Floor | 8.07% | 08/17/28 | 1764659 |
| 7842587 | Four Seasons Holdings, Inc., New Term Loan B, 1 Mo. SOFR + 3.25%, 0.50% Floor | 7.91% | 11/30/29 | 7888192 |
| 12486347 | Hilton Worldwide Finance LLC, Refinancing Series B-2 Term Loan, 1 Mo. SOFR + 1.75%, 0.00% Floor | 6.38% | 06/21/26 | 12485723 |
| 14262041 | Wyndham Hotels & Resorts, Inc., Term Loan B, 1 Mo. LIBOR + 1.75%, 0.00% Floor | 6.32% | 05/30/25 | 14277586 |
|  |  |  |  | 36416160 |
|  | **Household Appliances — 0.2%** |  |  |  |
| 6059152 | Weber-Stephen Products LLC, Term Loan B, 1 Mo. LIBOR + 3.25%, 0.75% Floor | 7.82% | 10/31/27 | 5337355 |
|  | **Human Resource & Employment Services — 0.0%** |  |  |  |
| 895109 | Alight, Inc. (fka Tempo Acq.), Extended Term Loan 2022, 1 Mo. SOFR + 3.00%, 0.50% Floor | 7.56% | 08/31/28 | 897440 |
|  | **Industrial Machinery — 0.6%** |  |  |  |
| 9769198 | Filtration Group Corp., 2021 Incremental Term Loan B, 1 Mo. LIBOR + 3.50%, 0.50% Floor | 8.07% | 10/21/28 | 9736666 |
| 4765605 | Filtration Group Corp., Initial Term Loan, 1 Mo. LIBOR + 3.00%, 0.00% Floor | 7.57% | 03/29/25 | 4764604 |

---

---

| |
|:---|
| **First Trust Senior Loan Fund (FTSL)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Rate (a)** | **Stated<br> Maturity (b)** | **Value** |
| **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** |
|  | **Industrial Machinery (Continued)** |  |  |  |
| $58264 | Gates Global LLC, Term Loan B-3, 1 Mo. LIBOR + 2.50%, 0.75% Floor | 7.07% | 03/31/27 | $58158 |
| 517316 | TK Elevator Newco GMBH (Vertical U.S. Newco, Inc.), New Term Loan B1 (USD), 6 Mo. LIBOR + 3.50%, 0.50% Floor | 8.60% | 07/31/27 | 508982 |
|  |  |  |  | 15068410 |
|  | **Insurance Brokers — 9.8%** |  |  |  |
| 2597582 | Alliant Holdings I LLC, 2019 New Term Loan, 1 Mo. LIBOR + 3.25%, 0.00% Floor | 7.82% | 05/10/25 | 2597998 |
| 57614552 | Alliant Holdings I LLC, Initial Term Loan, 1 Mo. LIBOR + 3.25%, 0.00% Floor | 7.82% | 05/09/25 | 57638463 |
| 11582761 | Alliant Holdings I LLC, TLB-4 New Term Loan, 1 Mo. LIBOR + 3.50%, 0.50% Floor | 8.01% | 11/06/27 | 11582761 |
| 6431379 | AmWINS Group, Inc., Term Loan B, 1 Mo. LIBOR + 2.25%, 0.75% Floor | 6.82% | 02/28/28 | 6401891 |
| 12823033 | AssuredPartners, Inc., 2021 Term Loan B, 1 Mo. LIBOR + 3.50%, 0.50% Floor | 8.07% | 02/13/27 | 12698008 |
| 889598 | AssuredPartners, Inc., 2022 Incremental Term Loan B4, 1 Mo. SOFR + 4.25%, 0.50% Floor | 8.81% | 02/13/27 | 891266 |
| 13097432 | AssuredPartners, Inc., Incremental Term Loan 2022, 1 Mo. SOFR + 3.50%, 0.50% Floor | 8.06% | 02/13/27 | 12972613 |
| 43617681 | AssuredPartners, Inc., Term Loan B, 1 Mo. LIBOR + 3.50%, 0.00% Floor | 8.07% | 02/12/27 | 43226867 |
| 8958179 | BroadStreet Partners, Inc., Term Loan B, 1 Mo. LIBOR + 3.00%, 0.00% Floor | 7.57% | 01/27/27 | 8851174 |
| 1846154 | HUB International Ltd., Term Loan B4, 3 Mo. SOFR + 4.00%, 0.75% Floor | 8.22% | 11/10/29 | 1847594 |
| 95339 | HUB International Ltd., Initial Term Loan B, 2 Mo. LIBOR + 3.00%, 0.00% Floor | 7.68% | 04/25/25 | 95364 |
| 36324005 | HUB International Ltd., Initial Term Loan B, 3 Mo. LIBOR + 3.00%, 0.00% Floor | 7.82% | 04/25/25 | 36333813 |
| 118522 | HUB International Ltd., New Term Loan B-3, 2 Mo. LIBOR + 3.25%, 0.75% Floor | 7.95% | 04/25/25 | 118586 |
| 46342158 | HUB International Ltd., New Term Loan B-3, 3 Mo. LIBOR + 3.25%, 0.75% Floor | 8.06% | 04/25/25 | 46366950 |
| 7000000 | USI, Inc. (fka Compass Investors, Inc.), 2021 New Term Loans, 3 Mo. LIBOR + 3.25%, 0.00% Floor | 7.98% | 12/02/26 | 7007105 |
| 14453655 | USI, Inc. (fka Compass Investors, Inc.), 2022 New Term Loan, 3 Mo. SOFR + 3.75%, 0.50% Floor | 8.33% | 11/30/29 | 14473529 |
|  |  |  |  | 263103982 |
|  | **Integrated Telecommunication Services — 1.7%** |  |  |  |
| 11542173 | Numericable (Altice France S.A. or SFR), Term Loan B-11, 3 Mo. LIBOR + 2.75%, 0.00% Floor | 7.58% | 07/31/25 | 11454164 |
| 1933673 | Numericable (Altice France S.A. or SFR), Term Loan B-12, 3 Mo. LIBOR + 3.69%, 0.00% Floor | 8.52% | 01/31/26 | 1865995 |
| 12677704 | Numericable (Altice France S.A. or SFR), Term Loan B-13, 3 Mo. LIBOR + 4.00%, 0.00% Floor | 8.65% | 08/14/26 | 12265679 |
| 6653348 | Zayo Group Holdings, Inc., Incremental Term Loan B-2, 1 Mo. SOFR + 4.25%, 0.50% Floor | 8.81% | 03/09/27 | 5727102 |

---

---

| |
|:---|
| **First Trust Senior Loan Fund (FTSL)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Rate (a)** | **Stated<br> Maturity (b)** | **Value** |
| **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** |
|  | **Integrated Telecommunication Services (Continued)** |  |  |  |
| $17001608 | Zayo Group Holdings, Inc., Initial Dollar Term Loan, 1 Mo. LIBOR + 3.00%, 0.00% Floor | 7.57% | 03/09/27 | $14327255 |
|  |  |  |  | 45640195 |
|  | **Internet Services & Infrastructure — 0.1%** |  |  |  |
| 2000000 | Go Daddy Operating Co. LLC, Term Loan B4, 1 Mo. LIBOR + 2.00%, 0.00% Floor | 6.57% | 08/10/27 | 1999450 |
|  | **Managed Health Care — 0.4%** |  |  |  |
| 13340022 | Multiplan, Inc. (MPH), Term Loan B, 3 Mo. LIBOR + 4.25%, 0.50% Floor | 8.98% | 08/31/28 | 12035168 |
|  | **Metal & Glass Containers — 1.7%** |  |  |  |
| 46189341 | Berry Global, Inc., Term Loan Z, 1 Mo. LIBOR + 1.75%, 0.00% Floor | 6.15% | 07/01/26 | 46157932 |
|  | **Office Services & Supplies — 0.8%** |  |  |  |
| 20781883 | Dun & Bradstreet Corp., Refinancing Term Loan, 1 Mo. LIBOR + 3.25%, 0.00% Floor | 7.77% | 02/08/26 | 20772635 |
|  | **Other Diversified Financial Services — 0.0%** |  |  |  |
| 953997 | AlixPartners, LLP, Term Loan B, 1 Mo. LIBOR + 2.75%, 0.50% Floor | 7.32% | 02/04/28 | 953735 |
|  | **Packaged Foods & Meats — 0.4%** |  |  |  |
| 10404845 | Hostess Brands LLC (HB Holdings), Term Loan B, 3 Mo. LIBOR + 2.25%, 0.75% Floor | 7.08% | 08/03/25 | 10424354 |
|  | **Paper Packaging — 3.0%** |  |  |  |
| 29961758 | Graham Packaging Company L.P., Term Loan B, 1 Mo. LIBOR + 3.00%, 0.75% Floor | 7.57% | 08/04/27 | 29882659 |
| 16266968 | Pactiv LLC/Evergreen Packaging LLC (fka Reynolds Group Holdings), Term Loan B-2, 1 Mo. LIBOR + 3.25%, 0.00% Floor | 7.82% | 02/05/26 | 16264447 |
| 20796967 | Pactiv LLC/Evergreen Packaging LLC (fka Reynolds Group Holdings), Tranche B-3 U.S. Term Loan, 1 Mo. LIBOR + 3.25%, 0.50% Floor | 7.82% | 09/20/28 | 20742375 |
| 13867995 | Reynolds Consumer Products LLC, Initial Term Loan, 1 Mo. LIBOR + 1.75%, 0.00% Floor | 6.32% | 02/04/27 | 13861962 |
|  |  |  |  | 80751443 |
|  | **Pharmaceuticals — 3.6%** |  |  |  |
| 1461900 | ICON Clinical Investments LLC, Lux Term Loan B, 3 Mo. LIBOR + 2.25%, 0.50% Floor | 7.00% | 07/01/28 | 1463734 |
| 364233 | ICON Clinical Investments LLC, US Term Loan B, 3 Mo. LIBOR + 2.25%, 0.50% Floor | 7.00% | 07/01/28 | 364691 |
| 28147393 | IQVIA, Inc. (Quintiles), Term Loan B2, 1 Mo. LIBOR + 1.75%, 0.00% Floor | 6.32% | 01/18/25 | 28173851 |
| 42936893 | IQVIA, Inc. (Quintiles), Term Loan B3, 3 Mo. LIBOR + 1.75%, 0.00% Floor | 6.48% | 06/11/25 | 42970598 |
| 35564 | Mallinckrodt International Finance S.A., 2017 Replacement Term Loan, 3 Mo. LIBOR + 5.25%, 0.75% Floor (c) | 9.99% | 09/30/27 | 27387 |
| 22824661 | Parexel International Corp. (Phoenix Newco), Term Loan (First Lien), 1 Mo. LIBOR + 3.25%, 0.50% Floor | 7.82% | 11/15/28 | 22671621 |
|  |  |  |  | 95671882 |

---

---

| |
|:---|
| **First Trust Senior Loan Fund (FTSL)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Rate (a)** | **Stated<br> Maturity (b)** | **Value** |
| **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** |
|  | **Research & Consulting Services — 2.6%** |  |  |  |
| $47268679 | Clarivate Analytics PLC (Camelot), Amendment No. 2 Incremental Term Loan, 1 Mo. LIBOR + 3.00%, 1.00% Floor | 7.52% | 10/31/26 | $47290895 |
| 15954062 | Corelogic, Inc., Term Loan B, 1 Mo. LIBOR + 3.50%, 0.50% Floor | 8.13% | 06/02/28 | 13594217 |
| 9271072 | J.D. Power (Project Boost Purchaser LLC), 2021 Incremental Term Loan B, 1 Mo. LIBOR + 3.50%, 0.50% Floor | 8.07% | 05/26/26 | 9132006 |
| 421963 | Veritext Corp. (VT TopCo, Inc.), Non-Fungible Term Loan (First Lien), 1 Mo. LIBOR + 3.75%, 0.75% Floor | 8.32% | 08/10/25 | 420381 |
|  |  |  |  | 70437499 |
|  | **Restaurants — 5.5%** |  |  |  |
| 61162641 | 1011778 B.C. Unlimited Liability Co. (Restaurant Brands) (aka Burger King/Tim Horton's), Term Loan B-4, 1 Mo. LIBOR + 1.75%, 0.00% Floor | 6.32% | 11/14/26 | 60611259 |
| 17776250 | IRB Holding Corp. (Arby's/Inspire Brands), New Term Loan B 2022, 3 Mo. SOFR + 3.00%, 0.75% Floor | 7.69% | 12/15/27 | 17630218 |
| 66051063 | IRB Holding Corp. (Arby's/Inspire Brands), Term Loan B, 1 Mo. LIBOR + 2.75%, 1.00% Floor | 7.32% | 02/05/25 | 66040825 |
| 4469407 | Portillo's Holdings LLC, Term Loan B-3, Prime Rate + 4.50%, 1.00% Floor | 12.00% | 09/06/24 | 4459642 |
|  |  |  |  | 148741944 |
|  | **Security & Alarm Services — 0.0%** |  |  |  |
| 629846 | Garda World Security Corp., Term Loan B, 3 Mo. LIBOR + 4.25%, 0.00% Floor | 8.93% | 10/30/26 | 628901 |
|  | **Soft Drinks — 0.3%** |  |  |  |
| 8964851 | Tropicana (Naked Juice LLC/Bengal Debt Merger Sub LLC), Term Loan (First Lien), 3 Mo. SOFR + 3.25%, 0.50% Floor | 7.93% | 01/24/29 | 8285270 |
|  | **Specialized Consumer Services — 0.7%** |  |  |  |
| 3840089 | Aramark Services, Inc., Term Loan B-3, 1 Mo. LIBOR + 1.75%, 0.00% Floor | 6.32% | 03/11/25 | 3831679 |
| 4400030 | Asurion LLC, New B-8 Term Loan, 1 Mo. LIBOR + 3.25%, 0.00% Floor | 7.82% | 12/23/26 | 4219233 |
| 12979453 | Asurion LLC, Term Loan B-3 (Second Lien), 1 Mo. LIBOR + 5.25%, 0.00% Floor | 9.82% | 01/31/28 | 10893006 |
| 309998 | Driven Holdings LLC, 2021 Term Loan B, 3 Mo. LIBOR + 3.00%, 0.50% Floor | 7.74% | 11/30/28 | 304057 |
|  |  |  |  | 19247975 |
|  | **Specialized Finance — 0.8%** |  |  |  |
| 5612670 | Radiate Holdco LLC (Astound), Inc., Amendment No. 6 Term Loan, 1 Mo. LIBOR + 3.25%, 0.75% Floor | 7.82% | 09/25/26 | 4703782 |
| 16361527 | WCG Purchaser Corp. (WIRB-Copernicus Group), Term Loan B, 1 Mo. LIBOR + 4.00%, 1.00% Floor | 8.57% | 01/08/27 | 15809408 |
|  |  |  |  | 20513190 |
|  | **Specialty Chemicals — 0.3%** |  |  |  |
| 6953824 | Avantor, Inc., Term Loan B5, 1 Mo. LIBOR + 2.25%, 0.50% Floor | 6.82% | 11/06/27 | 6960813 |
|  | **Specialty Stores — 1.0%** |  |  |  |
| 15334538 | Petco Health and Wellness Co., Inc., Initial Term Loan B, 3 Mo. SOFR + 3.25%, 0.75% Floor | 8.09% | 03/03/28 | 15201204 |

---

---

| |
|:---|
| **First Trust Senior Loan Fund (FTSL)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Rate (a)** | **Stated<br> Maturity (b)** | **Value** |
| **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** |
|  | **Specialty Stores (Continued)** |  |  |  |
| $11511771 | Petsmart, Inc., Initial Term Loan B, 1 Mo. SOFR + 3.75%, 0.75% Floor | 8.41% | 02/12/28 | $11449434 |
|  |  |  |  | 26650638 |
|  | **Systems Software — 4.8%** |  |  |  |
| 17424154 | BMC Software Finance, Inc. (Boxer Parent), 2021 Replacement Dollar Term Loan, 1 Mo. LIBOR + 3.75%, 0.00% Floor | 8.32% | 10/02/25 | 17144322 |
| 2733668 | Idera, Inc., Initial Term Loan, 3 Mo. LIBOR + 3.75%, 0.75% Floor | 8.51% | 02/15/28 | 2649949 |
| 24211340 | Misys Financial Software Ltd. (Almonde, Inc.) (Finastra), Term Loan B, 3 Mo. LIBOR + 3.50%, 1.00% Floor | 8.33% | 06/13/24 | 22811683 |
| 10395000 | Proofpoint, Inc., Term Loan (Second Lien), 3 Mo. LIBOR + 6.25%, 0.50% Floor | 10.98% | 08/31/29 | 10076653 |
| 3380172 | Proofpoint, Inc., Term Loan B, 3 Mo. LIBOR + 3.25%, 0.50% Floor | 7.98% | 08/31/28 | 3320225 |
| 1000000 | Sophos Group PLC (Surf), Term Loan B, 3 Mo. LIBOR + 3.50%, 0.00% Floor | 8.23% | 03/05/27 | 987680 |
| 8502462 | SS&C Technologies Holdings, Inc., Term Loan B-3, 1 Mo. LIBOR + 1.75%, 0.00% Floor | 6.32% | 04/16/25 | 8497403 |
| 7402799 | SS&C Technologies Holdings, Inc., Term Loan B-4, 1 Mo. LIBOR + 1.75%, 0.00% Floor | 6.32% | 04/16/25 | 7398394 |
| 54798673 | SS&C Technologies Holdings, Inc., Term Loan B-5, 1 Mo. LIBOR + 1.75%, 0.00% Floor | 6.32% | 04/16/25 | 54757574 |
| 974684 | SUSE (Marcel Lux IV S.A.R.L.), Facility Term Loan B1 USD, SOFR + 3.25%, 0.00% Floor | 7.66% -7.69% | 03/15/26 | 972247 |
|  |  |  |  | 128616130 |
|  | **Trading Companies & Distributors — 0.7%** |  |  |  |
| 19437373 | SRS Distribution, Inc., 2021 Refinancing Term Loan, 1 Mo. LIBOR + 3.50%, 0.50% Floor | 8.07% | 06/04/28 | 18788359 |
| 834021 | SRS Distribution, Inc., 2022 Refinancing Term Loan, 1 Mo. SOFR + 3.50%, 0.50% Floor | 8.16% | 06/04/28 | 805789 |
|  |  |  |  | 19594148 |
|  | **Wireless Telecommunication Services — 1.3%** |  |  |  |
| 34787872 | SBA Senior Finance II LLC, Term Loan B, 1 Mo. LIBOR + 1.75%, 0.00% Floor | 6.32% | 04/11/25 | 34777957 |
|  | **Total Senior Floating-Rate Loan Interests** |  |  | 2233105998 |
|  | (Cost $2,267,867,450) |  |  |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **CORPORATE BONDS AND NOTES — 8.5%** | **CORPORATE BONDS AND NOTES — 8.5%** | **CORPORATE BONDS AND NOTES — 8.5%** | **CORPORATE BONDS AND NOTES — 8.5%** | **CORPORATE BONDS AND NOTES — 8.5%** |
|  | **Aerospace & Defense — 0.0%** |  |  |  |
| 1082000 | TransDigm, Inc. (d) | 6.25% | 03/15/26 | 1082841 |
|  | **Application Software — 0.1%** |  |  |  |
| 3598000 | GoTo Group, Inc. (d) | 5.50% | 09/01/27 | 1816558 |
|  | **Broadcasting — 0.7%** |  |  |  |
| 2148000 | Gray Television, Inc. (d) | 5.88% | 07/15/26 | 1970715 |
| 18561000 | Nexstar Media, Inc. (d) | 5.63% | 07/15/27 | 17706823 |
|  |  |  |  | 19677538 |

---

---

| |
|:---|
| **First Trust Senior Loan Fund (FTSL)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** | **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)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** |
|  |  | **Cable & Satellite — 3.5%** |  |  |  |  |
| $| 57771000 | CCO Holdings LLC / CCO Holdings Capital Corp. (d) | 5.13% | 05/01/27 | $| 55125666 |
|  | 53853000 | CSC Holdings LLC (d) | 7.50% | 04/01/28 |  | 39481250 |
|  |  |  |  |  |  | 94606916 |
|  |  | **Casinos & Gaming — 0.2%** |  |  |  |  |
|  | 5330000 | VICI Properties L.P. / VICI Note Co., Inc. (d) | 4.25% | 12/01/26 |  | 5037069 |
|  |  | **Health Care Facilities — 1.2%** |  |  |  |  |
|  | 3798000 | Select Medical Corp. (d) | 6.25% | 08/15/26 |  | 3714197 |
|  | 10364000 | Tenet Healthcare Corp. | 4.88% | 01/01/26 |  | 10106196 |
|  | 2015000 | Tenet Healthcare Corp. | 6.25% | 02/01/27 |  | 1977390 |
|  | 16407000 | Tenet Healthcare Corp. | 5.13% | 11/01/27 |  | 15809949 |
|  |  |  |  |  |  | 31607732 |
|  |  | **Health Care Services — 0.6%** |  |  |  |  |
|  | 24212000 | Global Medical Response, Inc. (d) | 6.50% | 10/01/25 |  | 17063044 |
|  |  | **Insurance Brokers — 1.1%** |  |  |  |  |
|  | 2265000 | AmWINS Group, Inc. (d) | 4.88% | 06/30/29 |  | 1990027 |
|  | 9728000 | AssuredPartners, Inc. (d) | 7.00% | 08/15/25 |  | 9579064 |
|  | 16858000 | HUB International Ltd. (d) | 7.00% | 05/01/26 |  | 16711757 |
|  | 465000 | USI, Inc. (d) | 6.88% | 05/01/25 |  | 463298 |
|  |  |  |  |  |  | 28744146 |
|  |  | **Integrated Telecommunication Services — 0.1%** |  |  |  |  |
|  | 2291000 | Zayo Group Holdings, Inc. (d) | 4.00% | 03/01/27 |  | 1824873 |
|  |  | **Internet Services & Infrastructure — 0.0%** |  |  |  |  |
|  | 763000 | Go Daddy Operating Co. LLC / GD Finance Co., Inc. (d) | 5.25% | 12/01/27 |  | 739378 |
|  |  | **Paper Packaging — 0.1%** |  |  |  |  |
|  | 4535000 | Pactiv Evergreen Group Issuer, Inc. / Pactiv Evergreen Group Issuer LLC (d) | 4.00% | 10/15/27 |  | 4076511 |
|  |  | **Restaurants — 0.1%** |  |  |  |  |
|  | 3185000 | IRB Holding Corp. (d) | 7.00% | 06/15/25 |  | 3200097 |
|  |  | **Specialized Finance — 0.1%** |  |  |  |  |
|  | 2882000 | Radiate Holdco LLC / Radiate Finance, Inc. (d) | 4.50% | 09/15/26 |  | 2211935 |
|  |  | **Systems Software — 0.7%** |  |  |  |  |
|  | 788000 | Oracle Corp. | 5.80% | 11/10/25 |  | 810426 |
|  | 18749000 | SS&C Technologies, Inc. (d) | 5.50% | 09/30/27 |  | 18053960 |
|  |  |  |  |  |  | 18864386 |
|  |  | **Total Corporate Bonds and Notes** |  |  |  | 230553024 |
|  |  | (Cost $260,612,573) |  |  |  |  |
| **FOREIGN CORPORATE BONDS AND NOTES — 0.8%** | **FOREIGN CORPORATE BONDS AND NOTES — 0.8%** | **FOREIGN CORPORATE BONDS AND NOTES — 0.8%** | **FOREIGN CORPORATE BONDS AND NOTES — 0.8%** | **FOREIGN CORPORATE BONDS AND NOTES — 0.8%** | **FOREIGN CORPORATE BONDS AND NOTES — 0.8%** | **FOREIGN CORPORATE BONDS AND NOTES — 0.8%** |
|  |  | **Application Software — 0.4%** |  |  |  |  |
|  | 375000 | Open Text Corp. (d) | 6.90% | 12/01/27 |  | 384309 |

---

---

| |
|:---|
| **First Trust Senior Loan Fund (FTSL)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **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)** |
|  | **Application Software (Continued)** |  |  |  |
| $12478000 | Open Text Corp. (d) | 3.88% | 02/15/28 | $10859167 |
|  |  |  |  | 11243476 |
|  | **Data Processing & Outsourced Services — 0.3%** |  |  |  |
| 10755000 | Paysafe Finance PLC / Paysafe Holdings US Corp. (d) | 4.00% | 06/15/29 | 8564959 |
|  | **Environmental & Facilities Services — 0.1%** |  |  |  |
| 1323000 | GFL Environmental, Inc. (d) | 4.00% | 08/01/28 | 1176180 |
|  | **Total Foreign Corporate Bonds and Notes** |  |  | 20984615 |
|  | (Cost $22,526,064) |  |  |  |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS — 0.1%** | **COMMON STOCKS — 0.1%** | **COMMON STOCKS — 0.1%** |
|  | **Pharmaceuticals — 0.1%** |  |
| 249316 | Akorn, Inc. (e) (f) | 1682883 |
|  | (Cost $2,858,880) |  |
| **WARRANTS — 0.0%** | **WARRANTS — 0.0%** | **WARRANTS — 0.0%** |
|  | **Movies & Entertainment — 0.0%** |  |
| 972355 | Cineworld Group PLC, expiring 11/23/25 (e) (g) (h) | 32966 |
|  | (Cost $0) |  |
| **RIGHTS — 0.0%** | **RIGHTS — 0.0%** | **RIGHTS — 0.0%** |
|  | **Electric Utilities — 0.0%** |  |
| 4887 | Vistra Energy Corp., no expiration date (e) (g) | 6067 |
|  | **Life Sciences Tools & Services — 0.0%** |  |
| 1 | New Millennium Holdco, Inc., Corporate Claim Trust, no expiration date (e) (g) (i) (j) | 0 |
| 1 | New Millennium Holdco, Inc., Lender Claim Trust, no expiration date (e) (g) (i) (j) | 0 |
|  |  | 0 |
|  | **Total Rights** | 6067 |
|  | (Cost $8,491) |  |
| **MONEY MARKET FUNDS — 8.9%** | **MONEY MARKET FUNDS — 8.9%** | **MONEY MARKET FUNDS — 8.9%** |
| 238721509 | Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class - 4.12% (k) | 238721509 |
|  | (Cost $238,721,509) |  |
|  | **Total Investments — 101.3%** | 2725087062 |
|  | (Cost $2,792,594,967) |  |
|  | **Net Other Assets and Liabilities — (1.3)%** | (35197615) |
|  | **Net Assets — 100.0%** | $2689889447 |

---

---

| |
|:---|
| **First Trust Senior Loan Fund (FTSL)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

(a) Senior Floating-Rate Loan Interests ("Senior Loans") in which the Fund invests generally pay interest at rates which are periodically predetermined by reference to a base lending rate plus a premium. These base lending rates are generally (i) the lending rate offered by one or more major European banks, such as the LIBOR, (ii) the SOFR obtained from the U.S. Department of the Treasury's Office of Financial Research, (iii) the prime rate offered by one or more United States banks or (iv) the certificate of deposit rate. Certain Senior Loans are subject to a LIBOR or SOFR floor that establishes a minimum LIBOR or SOFR rate. When a range of rates is disclosed, the Fund holds more than one contract within the same tranche with identical LIBOR or SOFR period, spread and floor, but different LIBOR or SOFR reset dates.

(b) Senior Loans generally are subject to mandatory and/or optional prepayment. As a result, the actual remaining maturity of Senior Loans may be substantially less than the stated maturities shown.

(c) On June 16, 2022, Mallinckrodt plc completed a Bankruptcy Plan of Reorganization. In connection with the Plan of Reorganization, the Fund received a new replacement term loan.

(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 (the "1933 Act"), and may be resold in transactions exempt from registration, normally to qualified institutional buyers. Pursuant to procedures adopted by the Trust's Board of Trustees, this security has been determined to be liquid by First Trust Advisors L.P. (the "Advisor"). Although market instability can result in periods of increased overall market illiquidity, liquidity for each security is determined based on security specific factors and assumptions, which require subjective judgment. At January 31, 2023, securities noted as such amounted to $222,833,678 or 8.3% of net assets.

(e) Non-income producing security.

(f) Security received in a transaction exempt from registration under the
 1933 Act. The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified
 institutional buyers (see Restricted Securities table).

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

(h) This issuer has filed for protection in bankruptcy court.

(i) This security's value was determined using significant unobservable inputs (see Valuation Inputs section).

(j) This security is fair valued by the Advisor's Pricing Committee in accordance with procedures approved by the Trust's Board of Trustees, and in accordance with provisions of the Investment Company Act of 1940 and rules thereunder, as amended. At January 31, 2023, securities noted as such are valued at $0 or 0.0% of net assets.

(k) Rate shown reflects yield as of January 31, 2023.

LIBOR - London Interbank Offered Rate <br> SOFR - Secured Overnight Financing Rate <br>

---

| |
|:---|
| **First Trust Senior Loan Fund (FTSL)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

**Valuation Inputs**

The Fund is subject to fair value accounting standards that define fair value, establish the framework for measuring fair value and provide a three-level hierarchy for fair valuation based upon the inputs to the valuation as of the measurement date. The three levels of the fair value hierarchy are as follows:

&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.

A summary of the inputs used to value the Fund's investments as of January 31, 2023 is as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Total<br> Value at<br> 1/31/2023** | **Total<br> Value at<br> 1/31/2023** | **Level 1<br> Quoted<br> Prices** | **Level 2<br> Significant<br> Observable<br> Inputs** | **Level 3<br> Significant<br> Unobservable<br> Inputs** | **Level 3<br> Significant<br> Unobservable<br> Inputs** |
| Senior Floating-Rate Loan Interests\* | $2233105998 |  | $— | $2233105998 | $— |  |
| Corporate Bonds and Notes\* | 230553024 |  |  | 230553024 |  |  |
| Foreign Corporate Bonds and Notes\* | 20984615 |  |  | 20984615 |  |  |
| Common Stocks\* | 1682883 |  |  | 1682883 |  |  |
| Warrants\* | 32966 |  |  | 32966 |  |  |
| Rights: |  |  |  |  |  |  |
| Electric Utilities | 6067 |  |  | 6067 |  |  |
| Life Sciences Tools & Services |  | \*\* |  |  |  | \*\* |
| Money Market Funds | 238721509 |  | 238721509 |  |  |  |
| Total Investments | $2725087062 |  | $238721509 | $2486365553 | $— | \*\* |

---

\* See Portfolio of Investments for industry breakout.

\*\* Investment is valued at $0.

Level 3 investments are fair valued by the Advisor's Pricing Committee and are footnoted in the Portfolio of Investments. Level 3 investments values are based on unobservable and non-quantitative inputs.

**Unfunded Loan Commitments**<br> As of January 31, 2023, the Fund had the following unfunded loan commitment:<br>

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Borrower** | **Principal<br> Value** | **Commitment<br> Amount** | **Value** | **Unrealized<br> Appreciation<br> (Depreciation)** |
| athenahealth, Inc. (Minerva Merger Sub, Inc.), Term Loan | $4577669 | $4548368 | $4350685 | $(197683) |
| Veritext Corp. (VT TopCo, Inc.), Term Loan | 28277 | 27460 | 28171 | 711 |
|  |  | $4575828 | $4378856 | $(196972) |

---

---

| |
|:---|
| **First Trust Senior Loan Fund (FTSL)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

**Restricted Securities**<br> As of January 31, 2023, the Fund held restricted securities as shown in the following table that the Advisor has deemed illiquid.<br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Security** | **Acquisition**<br> **Date** | **Shares** | **Current**<br> **Price**  | **Carrying**<br> **Cost** | **Value** | **% of Net**<br> **Assets** |
| Akorn, Inc. | 10/15/2020 | 249316 | $6.75 | $2858880 | $1682883 | 0.06% |

---

---

| |
|:---|
| **First Trust Tactical High Yield ETF (HYLS)** |
| **Portfolio of Investments** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated Coupon** | **Stated<br> Maturity** | **Value** |
| **CORPORATE BONDS AND NOTES — 71.7%** | **CORPORATE BONDS AND NOTES — 71.7%** | **CORPORATE BONDS AND NOTES — 71.7%** | **CORPORATE BONDS AND NOTES — 71.7%** | |
|  | **Aerospace & Defense — 0.2%** |  |  |  |
| $342000 | Booz Allen Hamilton, Inc. (a) | 3.88% | 09/01/28 | $309765 |
| 3412000 | TransDigm, Inc. (a) | 6.25% | 03/15/26 | 3414653 |
|  |  |  |  | 3724418 |
|  | **Agricultural Products — 0.1%** |  |  |  |
| 1877000 | Lamb Weston Holdings, Inc. (a) | 4.88% | 05/15/28 | 1817757 |
|  | **Alternative Carriers — 0.2%** |  |  |  |
| 2000000 | Level 3 Financing, Inc. (a) | 4.25% | 07/01/28 | 1587530 |
| 2000000 | Level 3 Financing, Inc. (a) | 3.63% | 01/15/29 | 1491000 |
|  |  |  |  | 3078530 |
|  | **Apparel Retail — 0.6%** |  |  |  |
| 8080000 | Nordstrom, Inc. (b) | 4.00% | 03/15/27 | 6988745 |
| 2854000 | Nordstrom, Inc. | 4.38% | 04/01/30 | 2293660 |
|  |  |  |  | 9282405 |
|  | **Application Software — 1.1%** |  |  |  |
| 13254000 | GoTo Group, Inc. (a) (b) | 5.50% | 09/01/27 | 6691679 |
| 12000000 | McAfee Corp. (a) | 7.38% | 02/15/30 | 9984568 |
|  |  |  |  | 16676247 |
|  | **Automobile Manufacturers — 0.6%** |  |  |  |
| 6631000 | Ford Motor Co. (b) | 9.63% | 04/22/30 | 7812943 |
| 500000 | Ford Motor Credit Co. LLC | 5.13% | 06/16/25 | 491947 |
| 667000 | Penske Automotive Group, Inc. | 3.50% | 09/01/25 | 632433 |
|  |  |  |  | 8937323 |
|  | **Automotive Retail — 0.0%** |  |  |  |
| 167000 | Group 1 Automotive, Inc. (a) | 4.00% | 08/15/28 | 147089 |
| 250000 | Lithia Motors, Inc. (a) | 3.88% | 06/01/29 | 212773 |
|  |  |  |  | 359862 |
|  | **Broadcasting — 10.0%** |  |  |  |
| 21673000 | Diamond Sports Group LLC / Diamond Sports Finance Co. (a) (b) | 6.63% | 08/15/27 | 460551 |
| 28294000 | Gray Television, Inc. (a) (b) | 5.88% | 07/15/26 | 25958755 |
| 12429000 | Gray Television, Inc. (a) (b) | 7.00% | 05/15/27 | 11324248 |
| 3591000 | Gray Television, Inc. (a) | 4.75% | 10/15/30 | 2653587 |
| 28936000 | iHeartCommunications, Inc. (b) | 8.38% | 05/01/27 | 25977728 |
| 40562000 | Nexstar Media, Inc. (a) (b) | 5.63% | 07/15/27 | 38695337 |
| 13255000 | Nexstar Media, Inc. (a) (b) | 4.75% | 11/01/28 | 11981924 |
| 1389000 | Scripps Escrow II, Inc. (a) | 3.88% | 01/15/29 | 1161971 |
| 8355000 | Scripps Escrow, Inc. (a) (b) | 5.88% | 07/15/27 | 7466488 |
| 15319000 | Sinclair Television Group, Inc. (a) (b) | 5.13% | 02/15/27 | 13559887 |
| 5000000 | Sinclair Television Group, Inc. (a) | 5.50% | 03/01/30 | 3994500 |
| 1000000 | Sinclair Television Group, Inc. (a) | 4.13% | 12/01/30 | 796185 |
| 5509000 | Sirius XM Radio, Inc. (a) | 3.13% | 09/01/26 | 4966613 |
| 857000 | Sirius XM Radio, Inc. (a) | 5.50% | 07/01/29 | 804260 |
| 2000000 | Sirius XM Radio, Inc. (a) | 4.13% | 07/01/30 | 1717630 |
| 5357000 | Univision Communications, Inc. (a) (b) | 5.13% | 02/15/25 | 5225459 |
|  |  |  |  | 156745123 |
|  | **Building Products — 0.5%** |  |  |  |
| 1000000 | American Builders & Contractors Supply Co., Inc. (a) | 4.00% | 01/15/28 | 912165 |

---

---

| |
|:---|
| **First Trust Tactical High Yield ETF (HYLS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated Coupon** | **Stated<br> Maturity** | **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)** |
|  | **Building Products (Continued)** |  |  |  |
| $500000 | American Builders & Contractors Supply Co., Inc. (a) | 3.88% | 11/15/29 | $426775 |
| 100000 | Beacon Roofing Supply, Inc. (a) | 4.13% | 05/15/29 | 86340 |
| 100000 | Builders FirstSource, Inc. (a) | 4.25% | 02/01/32 | 86182 |
| 1392000 | Standard Industries, Inc. (a) | 5.00% | 02/15/27 | 1320928 |
| 1426000 | Standard Industries, Inc. (a) | 4.75% | 01/15/28 | 1338108 |
| 2492000 | Standard Industries, Inc. (a) | 4.38% | 07/15/30 | 2133079 |
| 1000000 | Standard Industries, Inc. (a) | 3.38% | 01/15/31 | 795488 |
| 1000000 | TopBuild Corp. (a) | 3.63% | 03/15/29 | 853460 |
|  |  |  |  | 7952525 |
|  | **Cable & Satellite — 6.6%** |  |  |  |
| 1000000 | CCO Holdings LLC / CCO Holdings Capital Corp. (a) | 5.50% | 05/01/26 | 983770 |
| 2828000 | CCO Holdings LLC / CCO Holdings Capital Corp. (a) | 5.13% | 05/01/27 | 2698506 |
| 4738000 | CCO Holdings LLC / CCO Holdings Capital Corp. (a) | 5.00% | 02/01/28 | 4430599 |
| 23466000 | CCO Holdings LLC / CCO Holdings Capital Corp. (a) | 5.38% | 06/01/29 | 21732215 |
| 20653000 | CCO Holdings LLC / CCO Holdings Capital Corp. (a) | 4.75% | 03/01/30 | 18071375 |
| 9707000 | CCO Holdings LLC / CCO Holdings Capital Corp. (a) | 4.50% | 08/15/30 | 8305552 |
| 2445000 | CCO Holdings LLC / CCO Holdings Capital Corp. (a) | 4.25% | 02/01/31 | 2039741 |
| 3456000 | CCO Holdings LLC / CCO Holdings Capital Corp. (a) | 7.38% | 03/01/31 | 3466800 |
| 1000000 | CCO Holdings LLC / CCO Holdings Capital Corp. | 4.50% | 05/01/32 | 828770 |
| 819000 | CSC Holdings LLC (a) | 5.50% | 04/15/27 | 722358 |
| 13619000 | CSC Holdings LLC (a) | 7.50% | 04/01/28 | 9984497 |
| 42608000 | CSC Holdings LLC (a) (b) | 5.75% | 01/15/30 | 26897365 |
| 4167000 | CSC Holdings LLC (a) | 4.63% | 12/01/30 | 2468812 |
| 1000000 | CSC Holdings LLC (a) | 5.00% | 11/15/31 | 601205 |
| 357000 | Directv Financing LLC / Directv Financing Co-Obligor, Inc. (a) | 5.88% | 08/15/27 | 323899 |
|  |  |  |  | 103555464 |
|  | **Casinos & Gaming — 2.8%** |  |  |  |
| 500000 | Boyd Gaming Corp. | 4.75% | 12/01/27 | 475839 |
| 6062000 | Boyd Gaming Corp. (a) | 4.75% | 06/15/31 | 5462802 |
| 1426000 | Caesars Entertainment, Inc. (a) (b) | 8.13% | 07/01/27 | 1448937 |
| 5662000 | Caesars Entertainment, Inc. (a) | 4.63% | 10/15/29 | 4848993 |
| 173000 | Caesars Entertainment, Inc. (a) | 7.00% | 02/15/30 | 176244 |
| 179000 | CDI Escrow Issuer, Inc. (a) | 5.75% | 04/01/30 | 169843 |
| 21496000 | Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc. (a) | 6.75% | 01/15/30 | 17867905 |
| 430000 | MGM Resorts International | 6.75% | 05/01/25 | 433659 |
| 2440000 | MGM Resorts International | 5.75% | 06/15/25 | 2412070 |
| 716000 | Scientific Games Holdings L.P. / Scientific Games US FinCo, Inc. (a) | 6.63% | 03/01/30 | 638672 |
| 3903000 | Station Casinos LLC (a) | 4.50% | 02/15/28 | 3518633 |
| 5952000 | VICI Properties L.P. / VICI Note Co., Inc. (a) | 4.25% | 12/01/26 | 5624884 |
| 140000 | VICI Properties L.P. / VICI Note Co., Inc. (a) | 3.75% | 02/15/27 | 129524 |
| 100000 | VICI Properties L.P. / VICI Note Co., Inc. (a) | 3.88% | 02/15/29 | 90211 |
|  |  |  |  | 43298216 |
|  | **Communications Equipment — 0.8%** |  |  |  |
| 13734000 | CommScope Technologies LLC (a) (b) | 6.00% | 06/15/25 | 13022167 |
|  | **Construction & Engineering — 0.8%** |  |  |  |
| 500000 | Atkore, Inc. (a) | 4.25% | 06/01/31 | 439362 |
| 13490000 | Pike Corp. (a) (b) | 5.50% | 09/01/28 | 11923898 |
|  |  |  |  | 12363260 |

---

---

| |
|:---|
| **First Trust Tactical High Yield ETF (HYLS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated Coupon** | **Stated<br> Maturity** | **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)** |
|  | **Construction Materials — 0.2%** |  |  |  |
| $176000 | GYP Holdings III Corp. (a) | 4.63% | 05/01/29 | $149178 |
| 3623000 | Summit Materials LLC / Summit Materials Finance Corp. (a) | 5.25% | 01/15/29 | 3406344 |
|  |  |  |  | 3555522 |
|  | **Consumer Finance — 0.3%** |  |  |  |
| 1889000 | Black Knight InfoServ LLC (a) | 3.63% | 09/01/28 | 1681210 |
| 3000000 | FirstCash, Inc. (a) | 4.63% | 09/01/28 | 2699250 |
|  |  |  |  | 4380460 |
|  | **Data Processing & Outsourced Services — 0.0%** |  |  |  |
| 500000 | Block, Inc. | 2.75% | 06/01/26 | 455045 |
| 250000 | Block, Inc. | 3.50% | 06/01/31 | 209123 |
|  |  |  |  | 664168 |
|  | **Electric Utilities — 1.2%** |  |  |  |
| 11077000 | PG&E Corp. (b) | 5.00% | 07/01/28 | 10393549 |
| 5000000 | Vistra Operations Co. LLC (a) | 5.63% | 02/15/27 | 4834934 |
| 3189000 | Vistra Operations Co. LLC (a) | 5.00% | 07/31/27 | 3005601 |
|  |  |  |  | 18234084 |
|  | **Electrical Components & Equipment — 0.0%** |  |  |  |
| 667000 | Sensata Technologies, Inc. (a) | 3.75% | 02/15/31 | 567075 |
|  | **Fertilizers & Agricultural Chemicals — 0.1%** |  |  |  |
| 250000 | Scotts Miracle-Gro (The) Co. | 4.50% | 10/15/29 | 215949 |
| 1000000 | Scotts Miracle-Gro (The) Co. | 4.00% | 04/01/31 | 811100 |
|  |  |  |  | 1027049 |
|  | **Financial Exchanges & Data — 0.0%** |  |  |  |
| 750000 | MSCI, Inc. (a) | 4.00% | 11/15/29 | 683490 |
|  | **Food Distributors — 0.1%** |  |  |  |
| 1397000 | US Foods, Inc. (a) | 4.75% | 02/15/29 | 1279770 |
|  | **Health Care Equipment — 0.1%** |  |  |  |
| 1435000 | Embecta Corp. (a) | 5.00% | 02/15/30 | 1183860 |
| 300000 | Teleflex, Inc. (a) | 4.25% | 06/01/28 | 277079 |
|  |  |  |  | 1460939 |
|  | **Health Care Facilities — 5.7%** |  |  |  |
| 1000000 | Acadia Healthcare Co., Inc. (a) | 5.50% | 07/01/28 | 964380 |
| 1290000 | Acadia Healthcare Co., Inc. (a) | 5.00% | 04/15/29 | 1207756 |
| 3652000 | AHP Health Partners, Inc. (a) | 5.75% | 07/15/29 | 3008905 |
| 2284000 | Encompass Health Corp. | 5.75% | 09/15/25 | 2269482 |
| 1300000 | Encompass Health Corp. | 4.50% | 02/01/28 | 1215305 |
| 1362000 | Encompass Health Corp. | 4.75% | 02/01/30 | 1250248 |
| 3840000 | HCA, Inc. | 5.88% | 02/15/26 | 3910245 |
| 1324000 | HCA, Inc. | 5.38% | 09/01/26 | 1332453 |
| 3000000 | HCA, Inc. | 3.50% | 09/01/30 | 2690731 |
| 26514000 | Select Medical Corp. (a) (b) | 6.25% | 08/15/26 | 25928969 |
| 10005000 | Tenet Healthcare Corp. | 4.88% | 01/01/26 | 9756126 |
| 9689000 | Tenet Healthcare Corp. (b) | 5.13% | 11/01/27 | 9336417 |
| 2600000 | Tenet Healthcare Corp. | 4.63% | 06/15/28 | 2414620 |
| 25752000 | Tenet Healthcare Corp. (b) | 6.13% | 10/01/28 | 24109022 |
|  |  |  |  | 89394659 |

---

---

| |
|:---|
| **First Trust Tactical High Yield ETF (HYLS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated Coupon** | **Stated<br> Maturity** | **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)** |
|  | **Health Care Services — 2.8%** |  |  |  |
| $24415000 | DaVita, Inc. (a) (b) | 4.63% | 06/01/30 | $20595762 |
| 908000 | DaVita, Inc. (a) | 3.75% | 02/15/31 | 707155 |
| 25976000 | Global Medical Response, Inc. (a) (b) | 6.50% | 10/01/25 | 18306196 |
| 5022000 | Pediatrix Medical Group, Inc. (a) | 5.38% | 02/15/30 | 4450396 |
| 100000 | Service Corp. International | 3.38% | 08/15/30 | 84180 |
|  |  |  |  | 44143689 |
|  | **Health Care Supplies — 1.4%** |  |  |  |
| 200000 | 180 Medical, Inc. (a) | 3.88% | 10/15/29 | 177489 |
| 13953000 | Medline Borrower L.P. (a) | 3.88% | 04/01/29 | 11947117 |
| 10908000 | Medline Borrower L.P. (a) (b) | 5.25% | 10/01/29 | 9148596 |
| 770000 | Owens & Minor, Inc. (a) | 4.50% | 03/31/29 | 628355 |
|  |  |  |  | 21901557 |
|  | **Health Care Technology — 3.0%** |  |  |  |
| 15722000 | AthenaHealth Group, Inc. (a) | 6.50% | 02/15/30 | 13045757 |
| 4503000 | HealthEquity, Inc. (a) | 4.50% | 10/01/29 | 4037165 |
| 30258000 | Verscend Escrow Corp. (a) (b) | 9.75% | 08/15/26 | 30399834 |
|  |  |  |  | 47482756 |
|  | **Hotels, Resorts & Cruise Lines — 0.4%** |  |  |  |
| 706000 | Boyne USA, Inc. (a) | 4.75% | 05/15/29 | 640698 |
| 4898000 | Midwest Gaming Borrower LLC / Midwest Gaming Finance Corp. (a) | 4.88% | 05/01/29 | 4292665 |
| 711000 | Wyndham Hotels & Resorts, Inc. (a) | 4.38% | 08/15/28 | 656623 |
| 125000 | XHR L.P. (a) | 4.88% | 06/01/29 | 111087 |
|  |  |  |  | 5701073 |
|  | **Household Products — 0.2%** |  |  |  |
| 200000 | Central Garden & Pet Co. | 4.13% | 10/15/30 | 170263 |
| 2154000 | Energizer Holdings, Inc. (a) | 6.50% | 12/31/27 | 2103112 |
| 1350000 | Energizer Holdings, Inc. (a) | 4.38% | 03/31/29 | 1174128 |
|  |  |  |  | 3447503 |
|  | **Independent Power Producers & Energy Traders — 0.6%** |  |  |  |
| 10427000 | Calpine Corp. (a) (b) | 5.13% | 03/15/28 | 9453750 |
|  | **Industrial Machinery — 0.4%** |  |  |  |
| 5573000 | Gates Global LLC / Gates Corp. (a) | 6.25% | 01/15/26 | 5495800 |
| 250000 | Roller Bearing Co. of America, Inc. (a) | 4.38% | 10/15/29 | 225580 |
|  |  |  |  | 5721380 |
|  | **Insurance Brokers — 13.1%** |  |  |  |
| 38556000 | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer (a) | 6.75% | 10/15/27 | 36122345 |
| 1790000 | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer (a) | 5.88% | 11/01/29 | 1561775 |
| 54652000 | AmWINS Group, Inc. (a) | 4.88% | 06/30/29 | 48017199 |
| 25001000 | AssuredPartners, Inc. (a) | 7.00% | 08/15/25 | 24618235 |
| 36774000 | AssuredPartners, Inc. (a) | 5.63% | 01/15/29 | 31503918 |
| 8120000 | BroadStreet Partners, Inc. (a) (b) | 5.88% | 04/15/29 | 7184211 |
| 3761000 | GTCR AP Finance, Inc. (a) | 8.00% | 05/15/27 | 3698774 |
| 46507000 | HUB International Ltd. (a) (b) | 7.00% | 05/01/26 | 46103552 |
| 7730000 | HUB International Ltd. (a) | 5.63% | 12/01/29 | 6926597 |

---

---

| |
|:---|
| **First Trust Tactical High Yield ETF (HYLS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated Coupon** | **Stated<br> Maturity** | **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)** |
|  | **Insurance Brokers (Continued)** |  |  |  |
| $535000 | USI, Inc. (a) | 6.88% | 05/01/25 | $533042 |
|  |  |  |  | 206269648 |
|  | **Integrated Telecommunication Services — 1.3%** |  |  |  |
| 500000 | Ciena Corp. (a) | 4.00% | 01/31/30 | 438158 |
| 1910000 | Zayo Group Holdings, Inc. (a) | 4.00% | 03/01/27 | 1521391 |
| 25891000 | Zayo Group Holdings, Inc. (a) (b) | 6.13% | 03/01/28 | 17841100 |
|  |  |  |  | 19800649 |
|  | **Interactive Media & Services — 0.0%** |  |  |  |
| 500000 | Match Group Holdings II LLC (a) | 4.63% | 06/01/28 | 460445 |
|  | **Internet & Direct Marketing Retail — 1.2%** |  |  |  |
| 20909000 | Cars.com, Inc. (a) (b) | 6.38% | 11/01/28 | 19414216 |
|  | **Internet Services & Infrastructure — 0.4%** |  |  |  |
| 5500000 | Go Daddy Operating Co. LLC / GD Finance Co., Inc. (a) (b) | 5.25% | 12/01/27 | 5329720 |
| 987000 | Go Daddy Operating Co. LLC / GD Finance Co., Inc. (a) | 3.50% | 03/01/29 | 854890 |
|  |  |  |  | 6184610 |
|  | **Investment Banking & Brokerage — 0.1%** |  |  |  |
| 1455000 | LPL Holdings, Inc. (a) | 4.63% | 11/15/27 | 1386251 |
|  | **IT Consulting & Other Services — 0.0%** |  |  |  |
| 250000 | Gartner, Inc. (a) | 4.50% | 07/01/28 | 237811 |
| 250000 | Gartner, Inc. (a) | 3.75% | 10/01/30 | 221900 |
|  |  |  |  | 459711 |
|  | **Leisure Facilities — 0.1%** |  |  |  |
| 250000 | Cedar Fair L.P. | 5.25% | 07/15/29 | 229496 |
| 850000 | Cedar Fair L.P. / Canada's Wonderland Co. / Magnum Management Corp. / Millennium Op | 5.38% | 04/15/27 | 823327 |
| 717000 | SeaWorld Parks & Entertainment, Inc. (a) | 5.25% | 08/15/29 | 648991 |
|  |  |  |  | 1701814 |
|  | **Managed Health Care — 0.9%** |  |  |  |
| 3269000 | Centene Corp. | 4.25% | 12/15/27 | 3139744 |
| 1000000 | Molina Healthcare, Inc. (a) | 4.38% | 06/15/28 | 924940 |
| 100000 | Molina Healthcare, Inc. (a) | 3.88% | 11/15/30 | 86132 |
| 6523000 | MPH Acquisition Holdings LLC (a) (b) | 5.50% | 09/01/28 | 5423809 |
| 5844000 | MPH Acquisition Holdings LLC (a) (b) | 5.75% | 11/01/28 | 4252737 |
|  |  |  |  | 13827362 |
|  | **Metal & Glass Containers — 1.4%** |  |  |  |
| 697000 | Ball Corp. | 6.88% | 03/15/28 | 719743 |
| 10648000 | Ball Corp. | 2.88% | 08/15/30 | 8745147 |
| 3864000 | Berry Global, Inc. (a) | 4.50% | 02/15/26 | 3753866 |
| 981000 | Berry Global, Inc. (a) | 5.63% | 07/15/27 | 964966 |
| 175000 | Crown Americas LLC | 5.25% | 04/01/30 | 168620 |
| 6050000 | Owens-Brockway Glass Container, Inc. (a) (b) | 6.38% | 08/15/25 | 5936562 |
| 2200000 | Silgan Holdings, Inc. | 4.13% | 02/01/28 | 2056923 |
|  |  |  |  | 22345827 |
|  | **Movies & Entertainment — 0.8%** |  |  |  |
| 5494000 | Live Nation Entertainment, Inc. (a) | 5.63% | 03/15/26 | 5336707 |
| 523000 | Live Nation Entertainment, Inc. (a) | 6.50% | 05/15/27 | 526594 |

---

---

| |
|:---|
| **First Trust Tactical High Yield ETF (HYLS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated Coupon** | **Stated<br> Maturity** | **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)** |
|  | **Movies & Entertainment (Continued)** |  |  |  |
| $5895000 | Live Nation Entertainment, Inc. (a) | 4.75% | 10/15/27 | $5460244 |
| 1000000 | WMG Acquisition Corp. (a) | 3.00% | 02/15/31 | 830615 |
|  |  |  |  | 12154160 |
|  | **Packaged Foods & Meats — 0.6%** |  |  |  |
| 2190000 | B&G Foods, Inc. | 5.25% | 04/01/25 | 1998353 |
| 750000 | Performance Food Group, Inc. (a) | 5.50% | 10/15/27 | 722820 |
| 2116000 | Post Holdings, Inc. (a) | 5.75% | 03/01/27 | 2086990 |
| 4434000 | Post Holdings, Inc. (a) | 5.63% | 01/15/28 | 4273090 |
|  |  |  |  | 9081253 |
|  | **Paper Packaging — 2.7%** |  |  |  |
| 30696000 | Graham Packaging Co., Inc. (a) (b) | 7.13% | 08/15/28 | 26881706 |
| 2000000 | Graphic Packaging International LLC (a) | 3.50% | 03/15/28 | 1790346 |
| 1000000 | Graphic Packaging International LLC (a) | 3.50% | 03/01/29 | 881155 |
| 11095000 | Pactiv Evergreen Group Issuer, Inc. / Pactiv Evergreen Group Issuer LLC (a) | 4.00% | 10/15/27 | 9973295 |
| 420000 | Pactiv LLC | 7.95% | 12/15/25 | 415961 |
| 376000 | Sealed Air Corp. (a) | 5.50% | 09/15/25 | 374186 |
| 1383000 | Sealed Air Corp. (a) | 6.13% | 02/01/28 | 1396692 |
| 1434000 | Sealed Air Corp. (a) | 5.00% | 04/15/29 | 1377844 |
|  |  |  |  | 43091185 |
|  | **Personal Products — 0.1%** |  |  |  |
| 250000 | Prestige Brands, Inc. (a) | 5.13% | 01/15/28 | 239064 |
| 750000 | Prestige Brands, Inc. (a) | 3.75% | 04/01/31 | 637852 |
|  |  |  |  | 876916 |
|  | **Pharmaceuticals — 0.3%** |  |  |  |
| 500000 | Catalent Pharma Solutions, Inc. (a) | 5.00% | 07/15/27 | 473522 |
| 250000 | Catalent Pharma Solutions, Inc. (a) | 3.13% | 02/15/29 | 207189 |
| 950000 | Charles River Laboratories International, Inc. (a) | 4.25% | 05/01/28 | 880189 |
| 1000000 | Charles River Laboratories International, Inc. (a) | 3.75% | 03/15/29 | 892035 |
| 1000000 | Charles River Laboratories International, Inc. (a) | 4.00% | 03/15/31 | 883410 |
| 800000 | IQVIA, Inc. (a) | 5.00% | 10/15/26 | 781160 |
| 1278000 | IQVIA, Inc. (a) | 5.00% | 05/15/27 | 1241819 |
|  |  |  |  | 5359324 |
|  | **Real Estate Services — 0.1%** |  |  |  |
| 290000 | Tri Pointe Homes, Inc. | 5.25% | 06/01/27 | 273151 |
| 500000 | Tri Pointe Homes, Inc. | 5.70% | 06/15/28 | 469595 |
|  |  |  |  | 742746 |
|  | **Research & Consulting Services — 0.6%** |  |  |  |
| 325000 | Clarivate Science Holdings Corp. (a) | 4.88% | 07/01/29 | 286413 |
| 12324000 | CoreLogic, Inc. (a) (b) | 4.50% | 05/01/28 | 9815388 |
|  |  |  |  | 10101801 |
|  | **Restaurants — 0.6%** |  |  |  |
| 661000 | Brinker International, Inc. (a) | 5.00% | 10/01/24 | 647542 |
| 9310000 | IRB Holding Corp. (a) (b) | 7.00% | 06/15/25 | 9354129 |
|  |  |  |  | 10001671 |
|  | **Security & Alarm Services — 0.2%** |  |  |  |
| 1200000 | Brink's (The) Co. (a) | 5.50% | 07/15/25 | 1183512 |

---

---

| |
|:---|
| **First Trust Tactical High Yield ETF (HYLS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated Coupon** | **Stated<br> Maturity** | **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)** |
|  | **Security & Alarm Services (Continued)** |  |  |  |
| $2061000 | Brink's (The) Co. (a) | 4.63% | 10/15/27 | $1925288 |
|  |  |  |  | 3108800 |
|  | **Semiconductors — 0.1%** |  |  |  |
| 1000000 | Qorvo, Inc. (a) | 3.38% | 04/01/31 | 828275 |
|  | **Specialized Consumer Services — 0.4%** |  |  |  |
| 4000000 | Aramark Services, Inc. (a) | 6.38% | 05/01/25 | 4005900 |
| 1055000 | Aramark Services, Inc. (a) | 5.00% | 02/01/28 | 995814 |
| 775000 | Carriage Services, Inc. (a) | 4.25% | 05/15/29 | 638693 |
|  |  |  |  | 5640407 |
|  | **Specialized Finance — 0.4%** |  |  |  |
| 1776000 | Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer (a) | 4.88% | 05/15/29 | 1537582 |
| 2851000 | Radiate Holdco LLC / Radiate Finance, Inc. (a) | 4.50% | 09/15/26 | 2188143 |
| 6216000 | Radiate Holdco LLC / Radiate Finance, Inc. (a) | 6.50% | 09/15/28 | 3246710 |
|  |  |  |  | 6972435 |
|  | **Specialty Chemicals — 0.7%** |  |  |  |
| 10214000 | Avantor Funding, Inc. (a) | 4.63% | 07/15/28 | 9641454 |
| 500000 | Axalta Coating Systems LLC (a) | 3.38% | 02/15/29 | 430680 |
| 250000 | HB Fuller Co. | 4.25% | 10/15/28 | 221505 |
|  |  |  |  | 10293639 |
|  | **Specialty Stores — 0.0%** |  |  |  |
| 350000 | PetSmart, Inc. / PetSmart Finance Corp. (a) | 4.75% | 02/15/28 | 324250 |
|  | **Systems Software — 4.1%** |  |  |  |
| 8407000 | Boxer Parent Co., Inc. (a) (b) | 9.13% | 03/01/26 | 8004385 |
| 2500000 | Crowdstrike Holdings, Inc. | 3.00% | 02/15/29 | 2148124 |
| 7500000 | Oracle Corp. | 6.25% | 11/09/32 | 8158901 |
| 4204000 | Oracle Corp. | 6.50% | 04/15/38 | 4625496 |
| 250000 | PTC, Inc. (a) | 3.63% | 02/15/25 | 240011 |
| 41967000 | SS&C Technologies, Inc. (a) (b) | 5.50% | 09/30/27 | 40411250 |
|  |  |  |  | 63588167 |
|  | **Technology Distributors — 0.0%** |  |  |  |
| 750000 | CDW LLC / CDW Finance Corp. | 3.25% | 02/15/29 | 650553 |
|  | **Trading Companies & Distributors — 0.7%** |  |  |  |
| 2715000 | SRS Distribution, Inc. (a) | 6.13% | 07/01/29 | 2338335 |
| 9816000 | SRS Distribution, Inc. (a) (b) | 6.00% | 12/01/29 | 8399109 |
| 127000 | United Rentals North America, Inc. | 5.50% | 05/15/27 | 126365 |
|  |  |  |  | 10863809 |
|  | **Wireless Telecommunication Services — 0.0%** |  |  |  |
| 500000 | SBA Communications Corp. | 3.88% | 02/15/27 | 462510 |
|  | **Total Corporate Bonds and Notes** |  |  | 1125904655 |
|  | (Cost $1,268,244,507) |  |  |  |

---

---

| |
|:---|
| **First Trust Tactical High Yield ETF (HYLS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated Coupon** | **Stated<br> Maturity** | **Value** |
| **FOREIGN CORPORATE BONDS AND NOTES — 8.5%** | **FOREIGN CORPORATE BONDS AND NOTES — 8.5%** | **FOREIGN CORPORATE BONDS AND NOTES — 8.5%** | **FOREIGN CORPORATE BONDS AND NOTES — 8.5%** | **FOREIGN CORPORATE BONDS AND NOTES — 8.5%** |
|  | **Application Software — 1.5%** |  |  |  |
| $4318000 | ION Trading Technologies S.A.R.L. (a) | 5.75% | 05/15/28 | $3702620 |
| 436000 | Open Text Corp. (a) | 6.90% | 12/01/27 | 446824 |
| 11860000 | Open Text Corp. (a) | 3.88% | 02/15/28 | 10321343 |
| 10577000 | Open Text Corp. (a) | 3.88% | 12/01/29 | 8809901 |
|  |  |  |  | 23280688 |
|  | **Auto Parts & Equipment — 0.3%** |  |  |  |
| 4432000 | Clarios Global L.P. / Clarios US Finance Co. (a) | 8.50% | 05/15/27 | 4420507 |
|  | **Building Products — 1.2%** |  |  |  |
| 15022000 | Cemex SAB de C.V. (a) (b) | 7.38% | 06/05/27 | 15461243 |
| 1304000 | Cemex SAB de C.V. (a) | 5.45% | 11/19/29 | 1260577 |
| 2000000 | Cemex SAB de C.V. (a) | 5.20% | 09/17/30 | 1872985 |
| 1000000 | Masonite International Corp. (a) | 5.38% | 02/01/28 | 937135 |
|  |  |  |  | 19531940 |
|  | **Cable & Satellite — 0.0%** |  |  |  |
| 250000 | Virgin Media Finance PLC (a) | 5.00% | 07/15/30 | 210163 |
|  | **Casinos & Gaming — 0.0%** |  |  |  |
| 500000 | International Game Technology PLC (a) | 5.25% | 01/15/29 | 480477 |
|  | **Data Processing & Outsourced Services — 0.8%** |  |  |  |
| 15159000 | Paysafe Finance PLC / Paysafe Holdings US Corp. (a) (b) | 4.00% | 06/15/29 | 12072173 |
|  | **Electrical Components & Equipment — 0.0%** |  |  |  |
| 500000 | Sensata Technologies B.V. (a) | 4.00% | 04/15/29 | 449537 |
|  | **Environmental & Facilities Services — 0.7%** |  |  |  |
| 500000 | GFL Environmental, Inc. (a) | 5.13% | 12/15/26 | 486963 |
| 9173000 | GFL Environmental, Inc. (a) (b) | 4.00% | 08/01/28 | 8155026 |
| 1784000 | GFL Environmental, Inc. (a) | 4.75% | 06/15/29 | 1612549 |
| 1000000 | GFL Environmental, Inc. (a) | 4.38% | 08/15/29 | 888120 |
|  |  |  |  | 11142658 |
|  | **Integrated Telecommunication Services — 1.1%** |  |  |  |
| 2989000 | Altice France S.A. (a) | 5.50% | 01/15/28 | 2487655 |
| 500000 | Altice France S.A. (a) | 5.13% | 07/15/29 | 393105 |
| 17387000 | Altice France S.A. (a) | 5.50% | 10/15/29 | 13769735 |
|  |  |  |  | 16650495 |
|  | **Life Sciences Tools & Services — 0.1%** |  |  |  |
| 2604000 | Grifols Escrow Issuer S.A. (a) | 4.75% | 10/15/28 | 2268110 |
|  | **Metal & Glass Containers — 0.1%** |  |  |  |
| 1403000 | Trivium Packaging Finance B.V. (a) | 5.50% | 08/15/26 | 1348592 |
|  | **Research & Consulting Services — 0.1%** |  |  |  |
| 774000 | Camelot Finance S.A. (a) | 4.50% | 11/01/26 | 737189 |
|  | **Restaurants — 1.5%** |  |  |  |
| 28132000 | 1011778 BC ULC / New Red Finance, Inc. (a) | 4.00% | 10/15/30 | 23984077 |
|  | **Specialized Finance — 0.0%** |  |  |  |
| 710000 | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC (a) | 6.00% | 06/15/27 | 708942 |

---

---

| |
|:---|
| **First Trust Tactical High Yield ETF (HYLS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated Coupon** | **Stated<br> Maturity** | **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)** |
|  | **Specialty Chemicals — 0.1%** |  |  |  |
| $1000000 | Axalta Coating Systems LLC / Axalta Coating Systems Dutch Holding B B.V. (a) | 4.75% | 06/15/27 | $946130 |
|  | **Trading Companies & Distributors — 1.0%** |  |  |  |
| 6779000 | VistaJet Malta Finance PLC / XO Management Holding, Inc. (a) | 7.88% | 05/01/27 | 6584138 |
| 9742000 | VistaJet Malta Finance PLC / XO Management Holding, Inc. (a) | 6.38% | 02/01/30 | 8606570 |
|  |  |  |  | 15190708 |
|  | **Total Foreign Corporate Bonds and Notes** |  |  | 133422386 |
|  | (Cost $143,175,202) |  |  |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Rate (c)** | **Stated<br> Maturity (d)** | **Value** |
| **SENIOR FLOATING-RATE LOAN INTERESTS — 12.2%** | **SENIOR FLOATING-RATE LOAN INTERESTS — 12.2%** | **SENIOR FLOATING-RATE LOAN INTERESTS — 12.2%** | **SENIOR FLOATING-RATE LOAN INTERESTS — 12.2%** | **SENIOR FLOATING-RATE LOAN INTERESTS — 12.2%** |
|  | **Application Software — 6.5%** |  |  |  |
| 3000000 | Epicor Software Corp., Term Loan (Second Lien), 1 Mo. LIBOR + 7.75%, 1.00% Floor | 12.32% | 07/30/28 | 3001245 |
| 21286112 | Gainwell Acquisition Corp. (fka Milano), Term Loan B, 3 Mo. LIBOR + 4.00%, 0.75% Floor | 8.73% | 10/01/27 | 20828461 |
| 12403842 | Greeneden U.S. Holdings II LLC (Genesys Telecommunications Laboratories, Inc.), Initial Dollar Term Loan, 1 Mo. LIBOR + 4.00%, 0.75% Floor | 8.57% | 12/01/27 | 12203582 |
| 5923857 | Hyland Software, Inc., Term Loan (Second Lien), 1 Mo. LIBOR + 6.25%, 0.75% Floor | 10.82% | 07/10/25 | 5659387 |
| 12031301 | Internet Brands, Inc. (WebMD/MH Sub I LLC), 2020 June New Term Loan, 1 Mo. LIBOR + 3.75%, 1.00% Floor | 8.32% | 09/15/24 | 11926027 |
| 14505048 | Internet Brands, Inc. (WebMD/MH Sub I LLC), Initial Term Loan, 1 Mo. LIBOR + 3.75%, 0.00% Floor | 8.32% | 09/13/24 | 14370224 |
| 19021355 | Internet Brands, Inc. (WebMD/MH Sub I LLC), Term Loan (Second Lien), 3 Mo. SOFR + 6.25%, 0.00% Floor | 10.65% | 02/23/29 | 17214326 |
| 14909505 | LogMeIn, Inc. (GoTo Group, Inc.), Term Loan B, 1 Mo. LIBOR + 4.75%, 0.00% Floor | 9.30% | 08/31/27 | 8367960 |
| 8870934 | RealPage, Inc., Term Loan (Second Lien), 1 Mo. LIBOR + 6.50%, 0.75% Floor | 11.07% | 04/22/29 | 8593717 |
|  |  |  |  | 102164929 |
|  | **Asset Management & Custody Banks — 0.4%** |  |  |  |
| 7000000 | Edelman Financial Engines Center LLC, Term Loan (Second Lien), 1 Mo. LIBOR + 6.75%, 0.00% Floor | 11.32% | 07/20/26 | 6607720 |
|  | **Education Services — 0.0%** |  |  |  |
| 357709 | Ascensus Holdings, Inc. (Mercury), Term Loan (Second Lien), 3 Mo. LIBOR + 6.50%, 0.50% Floor | 11.31% | 08/02/29 | 321044 |
|  | **Electronic Equipment & Instruments — 0.4%** |  |  |  |
| 7155950 | Verifone Systems, Inc., Term Loan B, 3 Mo. LIBOR + 4.00%, 0.00% Floor | 8.36% | 08/20/25 | 6749599 |
|  | **Health Care Technology — 2.4%** |  |  |  |
| 7025145 | Ciox Health (Healthport/CT Technologies Intermediate Holdings, Inc.), New Term Loan B, 1 Mo. LIBOR + 4.25%, 0.75% Floor | 8.82% | 12/16/25 | 6747651 |
| 2243904 | Navicure, Inc. (Waystar Technologies, Inc.), Term Loan B, 1 Mo. LIBOR + 4.00%, 0.00% Floor | 8.57% | 10/23/26 | 2234098 |

---

---

| |
|:---|
| **First Trust Tactical High Yield ETF (HYLS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Rate (c)** | **Stated<br> Maturity (d)** | **Value** |
| **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** | **SENIOR FLOATING-RATE LOAN INTERESTS (Continued)** |
|  | **Health Care Technology (Continued)** |  |  |  |
| $27966466 | Verscend Technologies, Inc. (Cotiviti), New Term Loan B-1, 1 Mo. LIBOR + 4.00%, 0.00% Floor | 8.57% | 08/27/25 | $27973877 |
|  |  |  |  | 36955626 |
|  | **Integrated Telecommunication Services — 0.3%** |  |  |  |
| 3249831 | Numericable (Altice France S.A. or SFR), Term Loan B-13, 3 Mo. LIBOR + 4.00%, 0.00% Floor | 8.65% | 08/14/26 | 3144211 |
| 1894000 | Zayo Group Holdings, Inc., Initial Dollar Term Loan, 1 Mo. LIBOR + 3.00%, 0.00% Floor | 7.57% | 03/09/27 | 1596074 |
|  |  |  |  | 4740285 |
|  | **Restaurants — 0.1%** |  |  |  |
| 1877807 | Portillo's Holdings LLC, Term Loan B-3, Prime Rate + 4.50%, 1.00% Floor | 12.00% | 09/06/24 | 1873704 |
|  | **Specialized Consumer Services — 0.9%** |  |  |  |
| 15966625 | Asurion LLC, Term Loan B-3 (Second Lien), 1 Mo. LIBOR + 5.25%, 0.00% Floor | 9.82% | 01/31/28 | 13399990 |
|  | **Specialized Finance — 0.3%** |  |  |  |
| 5575541 | WCG Purchaser Corp. (WIRB-Copernicus Group), Term Loan B, 1 Mo. LIBOR + 4.00%, 1.00% Floor | 8.57% | 01/08/27 | 5387394 |
|  | **Systems Software — 0.9%** |  |  |  |
| 5931418 | BMC Software Finance, Inc. (Boxer Parent), 2021 Replacement Dollar Term Loan, 1 Mo. LIBOR + 3.75%, 0.00% Floor | 8.32% | 10/02/25 | 5836159 |
| 9119210 | Misys Financial Software Ltd. (Almonde, Inc.) (Finastra), Term Loan B, 3 Mo. LIBOR + 3.50%, 1.00% Floor | 8.33% | 06/13/24 | 8592028 |
|  |  |  |  | 14428187 |
|  | **Total Senior Floating-Rate Loan Interests** |  |  | 192628478 |
|  | (Cost $205,684,555) |  |  |  |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS — 0.1%** | **COMMON STOCKS — 0.1%** | **COMMON STOCKS — 0.1%** |
|  | **Pharmaceuticals — 0.1%** |  |
| 259956 | Akorn, Inc. (e) (f) | 1754703 |
|  | (Cost $2,979,179) |  |
| **WARRANTS — 0.0%** | **WARRANTS — 0.0%** | **WARRANTS — 0.0%** |
|  | **Movies & Entertainment — 0.0%** |  |
| 828940 | Cineworld Group PLC, expiring 11/23/25 (e) (g) (h) | 28104 |
|  | (Cost $0) |  |
| **RIGHTS — 0.0%** | **RIGHTS — 0.0%** | **RIGHTS — 0.0%** |
|  | **Electric Utilities — 0.0%** |  |
| 1629 | Vistra Energy Corp., no expiration date (e) (g) | 2022 |
|  | (Cost $2,830) |  |

---

---

| |
|:---|
| **First Trust Tactical High Yield ETF (HYLS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **MONEY MARKET FUNDS — 4.5%** | **MONEY MARKET FUNDS — 4.5%** | **MONEY MARKET FUNDS — 4.5%** |
| 70000000 | Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class - 4.12% (i) | $70000000 |
|  | (Cost $70,000,000) |  |
|  | **Total Investments — 97.0%** | 1523740348 |
|  | (Cost $1,690,086,273) |  |
|  | **Net Other Assets and Liabilities — 3.0%** | 47008907 |
|  | **Net Assets — 100.0%** | $1570749255 |

---

(a) This security, sold within the terms of a private placement memorandum, is exempt from registration upon resale under Rule 144A of the Securities Act of 1933, as amended (the "1933 Act"), and may be resold in transactions exempt from registration, normally to qualified institutional buyers. Pursuant to procedures adopted by the Trust's Board of Trustees, this security has been determined to be liquid by First Trust Advisors L.P. ("First Trust" or 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 January 31, 2023, securities noted as such amounted to $1,104,921,875 or 70.3% of net assets.

(b) This security or a portion of this security is segregated as collateral for borrowings. At January 31, 2023, the segregated value of these securities amounts to $569,077,400.

(c) Senior Floating-Rate Loan Interests ("Senior Loans") in which the Fund invests generally pay interest at rates which are periodically predetermined by reference to a base lending rate plus a premium. These base lending rates are generally (i) the lending rate offered by one or more major European banks, such as the LIBOR, (ii) the SOFR obtained from the U.S. Department of the Treasury's Office of Financial Research, (iii) the prime rate offered by one or more United States banks or (iv) the certificate of deposit rate. Certain Senior Loans are subject to a LIBOR or SOFR floor that establishes a minimum LIBOR or SOFR rate. When a range of rates is disclosed, the Fund holds more than one contract within the same tranche with identical LIBOR or SOFR period, spread and floor, but different LIBOR or SOFR reset dates.

(d) Senior Loans generally are subject to mandatory and/or optional prepayment. As a result, the actual remaining maturity of Senior Loans may be substantially less than the stated maturities shown.

(e) Non-income producing security.

(f) Security received in a transaction exempt from registration under the 1933 Act. The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers (see Restricted Securities table).

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

(h) This issuer has filed for protection in bankruptcy court.

(i) Rate shown reflects yield as of January 31, 2023.

LIBOR - London Interbank Offered Rate <br> SOFR - Secured Overnight Financing Rate <br>

---

| |
|:---|
| **First Trust Tactical High Yield ETF (HYLS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

**Valuation Inputs**

The Fund is subject to fair value accounting standards that define fair value, establish the framework for measuring fair value and provide a three-level hierarchy for fair valuation based upon the inputs to the valuation as of the measurement date. The three levels of the fair value hierarchy are as follows:

&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.

A summary of the inputs used to value the Fund's investments as of January 31, 2023 is as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> Value at<br> 1/31/2023** | **Level 1<br> Quoted<br> Prices** | **Level 2<br> Significant<br> Observable<br> Inputs** | **Level 3<br> Significant<br> Unobservable<br> Inputs** |
| Corporate Bonds and Notes\* | $1125904655 | $— | $1125904655 | $— |
| Foreign Corporate Bonds and Notes\* | 133422386 |  | 133422386 |  |
| Senior Floating-Rate Loan Interests\* | 192628478 |  | 192628478 |  |
| Common Stocks\* | 1754703 |  | 1754703 |  |
| Warrants\* | 28104 |  | 28104 |  |
| Rights\* | 2022 |  | 2022 |  |
| Money Market Funds | 70000000 | 70000000 |  |  |
| Total Investments | $1523740348 | $70000000 | $1453740348 | $— |
| \* See Portfolio of Investments for industry breakout. | \* See Portfolio of Investments for industry breakout. | \* See Portfolio of Investments for industry breakout. | \* See Portfolio of Investments for industry breakout. | \* See Portfolio of Investments for industry breakout. |

---

---

| |
|:---|
| **Restricted Securities** |
| As of January 31, 2023, the Fund held restricted securities as shown in the following table that the Advisor has deemed illiquid. |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Security** | **Acquisition**<br> **Date** | **Shares** | **Current**<br> **Price**  | **Carrying**<br> **Cost** | **Value** | **% of Net**<br> **Assets** |
| Akorn, Inc. | 10/15/2020 | 259956 | $6.75 | $2979179 | $1754703 | 0.11% |

---

---

| |
|:---|
| **First Trust Enhanced Short Maturity ETF (FTSM)** |
| **Portfolio of Investments** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Annualized<br> Yield on<br> Date of<br> Purchase** | **Stated<br> Maturity** | **Value** |
| **COMMERCIAL PAPER — 45.3%** | **COMMERCIAL PAPER — 45.3%** | **COMMERCIAL PAPER — 45.3%** | **COMMERCIAL PAPER — 45.3%** | |
| | **Agriculture — 0.2%** | **Agriculture — 0.2%** | **Agriculture — 0.2%** | |
| $15000000 | BAT International Finance PLC | 5.41% | 07/17/23 | $14639604 |
|  | **Auto Manufacturers — 1.8%** |  |  |  |
| 10000000 | American Honda Finance Corp. | 4.81% | 02/03/23 | 9997367 |
| 10000000 | American Honda Finance Corp. | 5.05% | 04/05/23 | 9913630 |
| 18000000 | American Honda Finance Corp. | 5.08% | 04/10/23 | 17831375 |
| 10000000 | American Honda Finance Corp. | 5.02% | 04/12/23 | 9904605 |
| 10000000 | General Motors Financial Co., Inc. | 4.82% | 02/01/23 | 10000000 |
| 20000000 | Mercedes-Benz Finance North America LLC | 4.73% | 02/10/23 | 19976681 |
| 10200000 | Mercedes-Benz Finance North America LLC | 4.78% | 02/15/23 | 10181320 |
| 20000000 | VW Credit, Inc. | 4.96% | 02/22/23 | 19943095 |
| 11181000 | VW Credit, Inc. | 4.89% | 03/09/23 | 11127281 |
| 26850000 | VW Credit, Inc. | 4.96% - 4.97% | 03/14/23 | 26698611 |
|  |  |  |  | 145573965 |
|  | **Banks — 3.1%** |  |  |  |
| 10000000 | Australia & New Zealand Banking Group Ltd., SOFR + 0.43% (a) | 4.23% | 06/06/23 | 10000000 |
| 15000000 | Barclays PLC | 4.99% | 05/24/23 | 14773890 |
| 15000000 | Commonwealth Bank of Australia, SOFR + 0.66% (a) | 4.46% | 05/02/23 | 15000000 |
| 4500000 | Cooperatieve Rabobank UA, SOFR + 0.59% (a) | 3.57% | 03/29/23 | 4501651 |
| 14000000 | Cooperatieve Rabobank UA | 5.05% | 07/31/23 | 13660134 |
| 11920000 | Cooperatieve Rabobank UA | 5.16% | 10/20/23 | 11496080 |
| 10000000 | Macquarie Bank Ltd., SOFR + 0.60% (a) | 4.90% | 03/02/23 | 10000000 |
| 16000000 | Mitsubishi UFJ Trust & Banking Corp. | 5.14% | 07/28/23 | 15610600 |
| 16000000 | MUFG Bank Ltd. | 5.11% | 07/20/23 | 15630100 |
| 15000000 | Royal Bank of Canada, Fed Funds + 0.45% (a) | 3.53% | 03/24/23 | 15000000 |
| 10000000 | Royal Bank of Canada | 3.91% | 07/19/23 | 10000000 |
| 13408000 | Royal Bank of Canada, SOFR + 0.73% (a) | 5.03% | 08/08/23 | 13441069 |
| 16000000 | Skandinaviska Enskilda Banken AB, SOFR + 0.26% (a) | 4.56% | 08/25/23 | 16000000 |
| 20000000 | Svenska Handelsbanken AB, SOFR + 0.40% (a) | 4.71% | 03/01/23 | 19999160 |
| 25000000 | Svenska Handelsbanken AB | 5.05% | 07/24/23 | 24415573 |
| 10000000 | Toronto-Dominion Bank (The) SOFR + 0.50% (a) | 2.77% | 03/06/23 | 10000000 |
| 10000000 | Toronto-Dominion Bank (The) | 3.95% | 07/19/23 | 10000000 |
| 15000000 | UBS AG/London, SOFR + 0.42% (a) | 3.47% | 04/20/23 | 15000000 |
|  |  |  |  | 244528257 |
|  | **Beverages — 2.2%** |  |  |  |
| 25000000 | Brown-Forman Corp. | 4.64% | 02/03/23 | 24993640 |
| 15000000 | Brown-Forman Corp. | 4.72% | 02/06/23 | 14990317 |
| 15000000 | Brown-Forman Corp. | 4.80% | 02/10/23 | 14982264 |
| 10000000 | Brown-Forman Corp. | 4.77% | 02/13/23 | 9984344 |
| 9819000 | Brown-Forman Corp. | 4.86% | 02/22/23 | 9791634 |
| 10000000 | Constellation Brands, Inc. | 5.22% | 02/03/23 | 9997138 |
| 10000000 | Constellation Brands, Inc. | 5.12% | 02/13/23 | 9983184 |
| 21000000 | Constellation Brands, Inc. | 5.11% | 02/14/23 | 20961815 |
| 11000000 | Constellation Brands, Inc. | 5.13% | 02/23/23 | 10966092 |
| 30000000 | Constellation Brands, Inc. | 5.20% | 02/24/23 | 29902009 |
| 15000000 | Constellation Brands, Inc. | 5.22% | 02/27/23 | 14944484 |
|  |  |  |  | 171496921 |
|  | **Building Materials — 0.8%** |  |  |  |
| 31911000 | Vulcan Materials Co. | 4.78% | 02/09/23 | 31877611 |
| 15000000 | Vulcan Materials Co. | 4.78% | 02/13/23 | 14976476 |

---

---

| |
|:---|
| **First Trust Enhanced Short Maturity ETF (FTSM)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Annualized<br> Yield on<br> Date of<br> Purchase** | **Stated<br> Maturity** | **Value** |
| **COMMERCIAL PAPER (Continued)** | **COMMERCIAL PAPER (Continued)** | **COMMERCIAL PAPER (Continued)** | **COMMERCIAL PAPER (Continued)** | **COMMERCIAL PAPER (Continued)** |
|  | **Building Materials (Continued)** |  |  |  |
| $20000000 | Vulcan Materials Co. | 4.89% | 02/28/23 | $19927942 |
|  |  |  |  | 66782029 |
|  | **Chemicals — 2.6%** |  |  |  |
| 19300000 | Cabot Corp. | 4.61% | 02/01/23 | 19300000 |
| 17000000 | Cabot Corp. | 4.86% | 02/28/23 | 16939047 |
| 25000000 | Eastman Chemical Co. | 4.67% | 02/06/23 | 24984017 |
| 40000000 | FMC Corp. | 4.92% | 02/01/23 | 40000000 |
| 16000000 | International Flavors & Fragrances, Inc. | 5.45% | 02/28/23 | 15938178 |
| 10000000 | Nutrien Ltd. | 5.01% | 02/14/23 | 9982192 |
| 10000000 | Nutrien Ltd. | 4.86% | 03/01/23 | 9962865 |
| 16000000 | Nutrien Ltd. | 4.86% | 03/02/23 | 15938479 |
| 25000000 | Nutrien Ltd. | 4.89% | 03/07/23 | 24886561 |
| 16500000 | Sherwin-Williams (The) Co. | 4.67% | 02/06/23 | 16489344 |
| 15000000 | Sherwin-Williams (The) Co. | 4.78% | 02/22/23 | 14958827 |
|  |  |  |  | 209379510 |
|  | **Commercial Services — 0.2%** |  |  |  |
| 20000000 | ERAC USA Finance LLC | 4.94% | 02/21/23 | 19946024 |
|  | **Cosmetics/Personal Care — 0.7%** |  |  |  |
| 15000000 | GSK Consumer Healthcare Capital UK PLC | 4.75% | 02/02/23 | 14998049 |
| 15000000 | GSK Consumer Healthcare Capital UK PLC | 4.81% | 02/15/23 | 14972383 |
| 10000000 | Procter & Gamble (The) Co. | 4.48% | 02/17/23 | 9980418 |
| 10000000 | Procter & Gamble (The) Co. | 4.48% | 02/27/23 | 9968183 |
| 5000000 | Procter & Gamble (The) Co. | 4.48% | 03/01/23 | 4982870 |
|  |  |  |  | 54901903 |
|  | **Diversified Financial Services — 0.9%** |  |  |  |
| 10000000 | Citigroup Global Markets, Inc., SOFR + 0.52% (a) | 4.83% | 06/16/23 | 10000000 |
| 20000000 | Nasdaq, Inc. | 4.81% | 02/01/23 | 20000000 |
| 20000000 | Nasdaq, Inc. | 4.90% | 02/08/23 | 19981226 |
| 11000000 | Nasdaq, Inc. | 4.78% | 02/15/23 | 10979857 |
| 10000000 | Nasdaq, Inc. | 4.90% | 03/15/23 | 9943940 |
|  |  |  |  | 70905023 |
|  | **Electric — 8.2%** |  |  |  |
| 10000000 | American Electric Power Co., Inc. | 5.08% | 02/07/23 | 9991661 |
| 10000000 | American Electric Power Co., Inc. | 4.79% | 02/09/23 | 9989517 |
| 10000000 | American Electric Power Co., Inc. | 4.94% | 02/14/23 | 9982442 |
| 10000000 | American Electric Power Co., Inc. | 4.91% | 03/14/23 | 9945109 |
| 10000000 | American Electric Power Co., Inc. | 5.01% | 03/15/23 | 9942724 |
| 10000000 | American Electric Power Co., Inc. | 5.12% | 03/27/23 | 9924770 |
| 16000000 | Baltimore Gas and Electric Co. | 4.89% | 02/23/23 | 15953017 |
| 10000000 | CenterPoint Energy, Inc. | 4.82% | 02/09/23 | 9989437 |
| 20000000 | CenterPoint Energy, Inc. | 4.86% | 03/02/23 | 19923058 |
| 10000000 | Consolidated Edison Co. of New York, Inc. | 4.86% | 02/02/23 | 9998669 |
| 20000000 | Consolidated Edison Co. of New York, Inc. | 4.76% | 02/21/23 | 19948010 |
| 10000000 | Consolidated Edison Co. of New York, Inc. | 4.78% | 02/23/23 | 9971290 |
| 25000000 | Consolidated Edison Co. of New York, Inc. | 4.83% | 03/03/23 | 24901138 |
| 17550000 | Constellation Energy Generation LLC | 5.04% | 02/01/23 | 17550000 |
| 20000000 | Constellation Energy Generation LLC | 5.09% | 02/17/23 | 19955481 |
| 6000000 | Dominion Energy, Inc. | 4.77% | 02/03/23 | 5998433 |

---

---

| |
|:---|
| **First Trust Enhanced Short Maturity ETF (FTSM)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Annualized<br> Yield on<br> Date of<br> Purchase** | **Stated<br> Maturity** | **Value** |
| **COMMERCIAL PAPER (Continued)** | **COMMERCIAL PAPER (Continued)** | **COMMERCIAL PAPER (Continued)** | **COMMERCIAL PAPER (Continued)** | **COMMERCIAL PAPER (Continued)** |
|  | **Electric (Continued)** |  |  |  |
| $10000000 | Dominion Energy, Inc. | 4.81% | 02/06/23 | $9993418 |
| 25000000 | Dominion Energy, Inc. | 4.86% - 4.90% | 02/13/23 | 24959922 |
| 15000000 | Dominion Energy, Inc. | 4.90% | 02/14/23 | 14973857 |
| 15000000 | DTE Electric Co. | 4.72% | 02/07/23 | 14988369 |
| 20000000 | DTE Electric Co. | 4.75% | 02/21/23 | 19948050 |
| 18600000 | Duke Energy Corp. | 4.74% - 4.75% | 02/02/23 | 18597582 |
| 15000000 | Duke Energy Corp. | 4.67% | 02/08/23 | 14986577 |
| 20000000 | Duke Energy Corp. | 4.67% | 02/10/23 | 19976991 |
| 15000000 | Entergy Corp. | 4.79% | 02/14/23 | 14974452 |
| 15000000 | Entergy Corp. | 4.98% | 02/16/23 | 14969391 |
| 15000000 | Entergy Corp. | 4.98% | 02/23/23 | 14955155 |
| 12000000 | Entergy Corp. | 5.03% | 04/13/23 | 11883812 |
| 10000000 | NextEra Energy Capital Holdings, Inc. | 4.73% | 02/15/23 | 9981872 |
| 20600000 | NextEra Energy Capital Holdings, Inc. | 4.74% | 02/17/23 | 20557305 |
| 15000000 | NextEra Energy Capital Holdings, Inc. | 4.83% | 02/28/23 | 14946548 |
| 25000000 | Public Service Co. of Colorado | 4.83% | 02/08/23 | 24976846 |
| 20000000 | Public Service Co. of Colorado | 4.77% | 02/13/23 | 19968658 |
| 18000000 | Public Service Co. of Colorado | 4.73% | 02/17/23 | 17962733 |
| 17000000 | Sempra Energy | 4.67% | 02/08/23 | 16984777 |
| 23000000 | Sempra Energy | 4.67% | 02/09/23 | 22976465 |
| 32000000 | Sempra Energy | 4.78% | 02/14/23 | 31945649 |
| 34000000 | Southern California Edison Co. | 4.72% | 02/01/23 | 34000000 |
| 10000000 | Virginia Electric and Power Co. | 4.80% | 02/06/23 | 9993435 |
| 15000000 | Virginia Electric and Power Co. | 4.74% | 02/07/23 | 14988321 |
|  |  |  |  | 648454941 |
|  | **Electronics — 2.4%** |  |  |  |
| 20000000 | Arrow Electronics, Inc. | 4.98% | 02/01/23 | 20000000 |
| 15000000 | Arrow Electronics, Inc. | 5.08% | 02/08/23 | 14985415 |
| 20000000 | Arrow Electronics, Inc. | 5.24% | 02/15/23 | 19959904 |
| 28050000 | Flex Ltd. | 5.02% | 02/01/23 | 28050000 |
| 18750000 | Honeywell International, Inc. | 4.25% | 02/01/23 | 18750000 |
| 7000000 | Honeywell International, Inc. | 4.37% | 02/14/23 | 6989125 |
| 8000000 | Honeywell International, Inc. | 4.42% | 02/23/23 | 7978726 |
| 10000000 | Jabil, Inc. | 5.34% | 02/02/23 | 9998537 |
| 15000000 | Jabil, Inc. | 5.34% | 02/03/23 | 14995610 |
| 5000000 | Jabil, Inc. | 5.36% | 02/10/23 | 4993405 |
| 15000000 | Jabil, Inc. | 5.36% | 02/13/23 | 14973623 |
| 15000000 | Jabil, Inc. | 5.36% | 02/16/23 | 14967033 |
| 15000000 | Jabil, Inc. | 5.36% | 02/27/23 | 14942967 |
|  |  |  |  | 191584345 |
|  | **Environmental Control — 1.0%** |  |  |  |
| 27000000 | Republic Services, Inc. | 4.57% - 4.66% | 02/02/23 | 26996583 |
| 15000000 | Republic Services, Inc. | 5.03% | 02/21/23 | 14958768 |
| 35000000 | Waste Management, Inc. | 4.74% - 4.99% | 02/16/23 | 34930454 |
|  |  |  |  | 76885805 |
|  | **Food — 2.3%** |  |  |  |
| 10000000 | Conagra Brands, Inc. | 5.08% | 02/14/23 | 9981924 |
| 16000000 | Conagra Brands, Inc. | 5.14% | 02/21/23 | 15955061 |
| 17000000 | Conagra Brands, Inc. | 5.24% | 02/28/23 | 16934328 |

---

---

| |
|:---|
| **First Trust Enhanced Short Maturity ETF (FTSM)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Annualized<br> Yield on<br> Date of<br> Purchase** | **Stated<br> Maturity** | **Value** |
| **COMMERCIAL PAPER (Continued)** | **COMMERCIAL PAPER (Continued)** | **COMMERCIAL PAPER (Continued)** | **COMMERCIAL PAPER (Continued)** | **COMMERCIAL PAPER (Continued)** |
|  | **Food (Continued)** |  |  |  |
| $15000000 | McCormick & Co., Inc. | 4.84% | 02/02/23 | $14998010 |
| 10000000 | McCormick & Co., Inc. | 4.67% | 02/07/23 | 9992325 |
| 25000000 | McCormick & Co., Inc. | 4.76% | 02/17/23 | 24947983 |
| 20000000 | Mondelez International, Inc. | 4.70% | 02/03/23 | 19994847 |
| 38000000 | Mondelez International, Inc. | 4.68% - 4.83% | 02/07/23 | 37970315 |
| 30800000 | Sysco Corp. | 4.51% | 02/01/23 | 30800000 |
|  |  |  |  | 181574793 |
|  | **Gas — 0.5%** |  |  |  |
| 15000000 | CenterPoint Energy Resources Corp. | 4.86% | 02/16/23 | 14970108 |
| 25000000 | NiSource, Inc. | 4.72% | 02/09/23 | 24974159 |
|  |  |  |  | 39944267 |
|  | **Health Care Products — 1.1%** |  |  |  |
| 30000000 | Baxter International, Inc. | 4.88% | 02/23/23 | 29912090 |
| 15000000 | Medtronic Global Holdings SCA | 4.72% | 02/09/23 | 14984486 |
| 15000000 | Thermo Fisher Scientific, Inc. | 4.84% | 02/24/23 | 14954425 |
| 25000000 | Thermo Fisher Scientific, Inc. | 4.84% | 02/27/23 | 24914134 |
|  |  |  |  | 84765135 |
|  | **Health Care Services — 1.7%** |  |  |  |
| 69500000 | Elevance Health, Inc. | 4.56% - 4.62% | 02/01/23 | 69500000 |
| 15000000 | Humana, Inc. | 4.87% | 02/07/23 | 14987875 |
| 15000000 | Humana, Inc. | 4.94% | 02/09/23 | 14983785 |
| 12000000 | Humana, Inc. | 4.94% | 02/15/23 | 11977327 |
| 15000000 | Humana, Inc. | 4.94% | 02/16/23 | 14969626 |
| 10000000 | Humana, Inc. | 4.85% | 03/09/23 | 9952375 |
|  |  |  |  | 136370988 |
|  | **Household Products/Wares — 0.2%** |  |  |  |
| 15000000 | Reckitt Benckiser Treasury Services PLC | 4.85% | 02/28/23 | 14946357 |
|  | **Insurance — 0.3%** |  |  |  |
| 22500000 | Aon Corp. | 4.97% - 5.07% | 02/02/23 | 22496926 |
|  | **Lodging — 0.3%** |  |  |  |
| 10000000 | Marriott International, Inc. | 4.72% | 02/07/23 | 9992167 |
| 12000000 | Marriott International, Inc. | 4.75% | 02/09/23 | 11987516 |
| 5720000 | Marriott International, Inc. | 4.82% | 02/13/23 | 5710955 |
|  |  |  |  | 27690638 |
|  | **Mining — 0.6%** |  |  |  |
| 25000000 | Glencore Funding LLC | 4.87% | 02/08/23 | 24976674 |
| 10000000 | Glencore Funding LLC | 4.96% | 02/16/23 | 9979645 |
| 15000000 | Glencore Funding LLC | 4.98% | 02/28/23 | 14944935 |
|  |  |  |  | 49901254 |
|  | **Miscellaneous Manufacturing — 0.7%** |  |  |  |
| 15000000 | Parker-Hannifin Corp. | 4.92% | 02/03/23 | 14995960 |
| 10000000 | Parker-Hannifin Corp. | 4.80% | 02/09/23 | 9989487 |
| 15000000 | Parker-Hannifin Corp. | 4.82% | 02/21/23 | 14960523 |
| 15000000 | Parker-Hannifin Corp. | 5.06% | 05/01/23 | 14817350 |
|  |  |  |  | 54763320 |

---

---

| |
|:---|
| **First Trust Enhanced Short Maturity ETF (FTSM)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Annualized<br> Yield on<br> Date of<br> Purchase** | **Stated<br> Maturity** | **Value** |
| **COMMERCIAL PAPER (Continued)** | **COMMERCIAL PAPER (Continued)** | **COMMERCIAL PAPER (Continued)** | **COMMERCIAL PAPER (Continued)** | **COMMERCIAL PAPER (Continued)** |
|  | **Oil & Gas — 2.7%** |  |  |  |
| $15000000 | BP Capital Markets PLC | 4.96% | 02/21/23 | $14959305 |
| 15000000 | BP Capital Markets PLC | 4.88% | 02/22/23 | 14957972 |
| 21600000 | Canadian Natural Resources Ltd. | 5.19% | 02/16/23 | 21554003 |
| 25000000 | Canadian Natural Resources Ltd. | 5.27% | 02/23/23 | 24920850 |
| 30000000 | Canadian Natural Resources Ltd. | 5.27% | 02/24/23 | 29900702 |
| 20000000 | Suncor Energy, Inc. | 5.01% - 5.14% | 02/02/23 | 19997221 |
| 10000000 | Suncor Energy, Inc. | 5.06% | 02/06/23 | 9993076 |
| 18500000 | Suncor Energy, Inc. | 5.06% - 5.19% | 02/09/23 | 18479403 |
| 15188000 | Suncor Energy, Inc. | 4.84% | 02/17/23 | 15155873 |
| 10000000 | Suncor Energy, Inc. | 5.34% | 03/14/23 | 9937882 |
| 25000000 | Suncor Energy, Inc. | 5.01% | 03/27/23 | 24816075 |
| 10000000 | Suncor Energy, Inc. | 5.24% | 04/10/23 | 9903365 |
|  |  |  |  | 214575727 |
|  | **Pharmaceuticals — 2.1%** |  |  |  |
| 30500000 | AstraZeneca PLC | 4.78% - 4.80% | 03/13/23 | 30340766 |
| 16000000 | Becton Dickinson and Co. | 4.71% | 02/06/23 | 15989675 |
| 12000000 | Becton Dickinson and Co. | 4.79% | 02/21/23 | 11968614 |
| 20000000 | Becton Dickinson and Co. | 4.82% | 02/27/23 | 19931615 |
| 10000000 | Becton Dickinson and Co. | 4.82% | 03/03/23 | 9960547 |
| 15000000 | Cigna Corp. | 4.73% | 02/06/23 | 14990277 |
| 15000000 | Cigna Corp. | 4.74% | 02/07/23 | 14988331 |
| 15000000 | Cigna Corp. | 4.74% | 02/08/23 | 14986387 |
| 30000000 | McKesson Corp. | 4.73% | 02/03/23 | 29992231 |
|  |  |  |  | 163148443 |
|  | **Pipelines — 2.3%** |  |  |  |
| 15000000 | Enbridge US, Inc. | 4.92% | 02/22/23 | 14957652 |
| 20000000 | Enbridge US, Inc. | 5.00% | 02/24/23 | 19937218 |
| 10000000 | Enbridge US, Inc. | 4.94% | 02/28/23 | 9963566 |
| 8000000 | Energy Transfer, L.P. | 5.00% | 02/01/23 | 8000000 |
| 40000000 | Plains All American Pipeline, L.P. | 4.92% | 02/01/23 | 40000000 |
| 25000000 | Targa Resources Corp. | 5.12% | 02/01/23 | 25000000 |
| 16900000 | Targa Resources Corp. | 5.29% - 5.34% | 02/10/23 | 16877839 |
| 10000000 | TransCanada PipeLines Ltd. | 5.04% | 02/10/23 | 9987588 |
| 10000000 | TransCanada PipeLines Ltd. | 5.06% | 02/13/23 | 9983391 |
| 8846000 | TransCanada PipeLines Ltd. | 5.11% | 02/21/23 | 8821287 |
| 15000000 | TransCanada PipeLines Ltd. | 5.16% | 02/24/23 | 14951366 |
|  |  |  |  | 178479907 |
|  | **Real Estate Investment Trusts — 1.3%** |  |  |  |
| 18000000 | Alexandria Real Estate Equities, Inc. | 4.72% | 02/09/23 | 17981385 |
| 11000000 | Crown Castle, Inc. | 5.27% | 02/02/23 | 10998411 |
| 23500000 | Crown Castle, Inc. | 5.09% - 5.38% | 02/14/23 | 23455352 |
| 10000000 | Crown Castle, Inc. | 5.38% | 02/16/23 | 9977929 |
| 15000000 | Crown Castle, Inc. | 5.33% | 02/28/23 | 14941041 |
| 15000000 | Crown Castle, Inc. | 5.45% | 03/08/23 | 14921968 |
| 13000000 | Crown Castle, Inc. | 5.45% | 03/09/23 | 12930440 |
|  |  |  |  | 105206526 |
|  | **Retail — 0.9%** |  |  |  |
| 17000000 | Alimentation Couche-Tard, Inc. | 4.80% | 02/14/23 | 16970959 |
| 15000000 | Alimentation Couche-Tard, Inc. | 4.91% | 03/02/23 | 14941751 |

---

---

| |
|:---|
| **First Trust Enhanced Short Maturity ETF (FTSM)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Annualized<br> Yield on<br> Date of<br> Purchase** | **Stated<br> Maturity** | **Value** |
| **COMMERCIAL PAPER (Continued)** | **COMMERCIAL PAPER (Continued)** | **COMMERCIAL PAPER (Continued)** | **COMMERCIAL PAPER (Continued)** | **COMMERCIAL PAPER (Continued)** |
|  | **Retail (Continued)** |  |  |  |
| $30000000 | Alimentation Couche-Tard, Inc. | 4.98% | 03/16/23 | $29825086 |
| 10000000 | Alimentation Couche-Tard, Inc. | 5.06% | 03/31/23 | 9920228 |
|  |  |  |  | 71658024 |
|  | **Software — 2.6%** |  |  |  |
| 20000000 | Fidelity National Information Services, Inc. | 4.84% | 02/07/23 | 19984102 |
| 20000000 | Fidelity National Information Services, Inc. | 4.78% | 02/08/23 | 19981689 |
| 10000000 | Fidelity National Information Services, Inc. | 4.83% | 02/09/23 | 9989435 |
| 25000000 | Fidelity National Information Services, Inc. | 4.84% | 02/10/23 | 24970175 |
| 10000000 | Fidelity National Information Services, Inc. | 4.85% | 02/17/23 | 9978763 |
| 15000000 | Fiserv, Inc. | 4.78% | 02/08/23 | 14986256 |
| 26000000 | Fiserv, Inc. | 4.71% | 02/10/23 | 25969855 |
| 25000000 | Fiserv, Inc. | 4.76% - 4.78% | 02/16/23 | 24951100 |
| 10000000 | Oracle Corp. | 4.84% | 02/09/23 | 9989396 |
| 12000000 | Oracle Corp. | 4.73% | 02/10/23 | 11986016 |
| 10000000 | Oracle Corp. | 5.00% | 02/13/23 | 9983573 |
| 15000000 | Oracle Corp. | 5.01% | 02/17/23 | 14967150 |
| 10000000 | Oracle Corp. | 4.78% | 02/23/23 | 9971255 |
|  |  |  |  | 207708765 |
|  | **Telecommunications — 1.0%** |  |  |  |
| 25000000 | AT&T, Inc. | 4.78% | 02/13/23 | 24960736 |
| 10000000 | AT&T, Inc. | 4.78% | 02/14/23 | 9982997 |
| 20000000 | AT&T, Inc. | 4.82% | 02/15/23 | 19963119 |
| 10000000 | Bell Telephone Co. of Canada or Bell Canada (The) | 4.82% | 02/22/23 | 9972361 |
| 14000000 | Bell Telephone Co. of Canada or Bell Canada (The) | 4.84% | 03/03/23 | 13944576 |
|  |  |  |  | 78823789 |
|  | **Trucking & Leasing — 0.3%** |  |  |  |
| 23000000 | Penske Truck Leasing Co., L.P. | 4.78% | 02/07/23 | 22981948 |
|  | **Water — 0.3%** |  |  |  |
| 25000000 | American Water Capital Corp. | 4.47% | 02/03/23 | 24993873 |
|  | **Total Commercial Paper** |  |  | 3595109007 |
|  | (Cost $3,595,109,006) |  |  |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **CORPORATE BONDS AND NOTES — 34.4%** | **CORPORATE BONDS AND NOTES — 34.4%** | **CORPORATE BONDS AND NOTES — 34.4%** | **CORPORATE BONDS AND NOTES — 34.4%** | **CORPORATE BONDS AND NOTES — 34.4%** |
|  | **Aerospace/Defense — 1.2%** |  |  |  |
| 7001000 | Boeing (The) Co. | 1.17% | 02/04/23 | 6999827 |
| 2361000 | Boeing (The) Co. | 4.51% | 05/01/23 | 2357410 |
| 9443000 | General Dynamics Corp. | 3.38% | 05/15/23 | 9404787 |
| 30458000 | L3Harris Technologies, Inc. | 3.85% | 06/15/23 | 30325895 |
| 32443000 | Northrop Grumman Corp. | 3.25% | 08/01/23 | 32223983 |
| 14353000 | Northrop Grumman Corp. | 2.93% | 01/15/25 | 13889145 |
|  |  |  |  | 95201047 |
|  | **Auto Manufacturers — 1.7%** |  |  |  |
| 20000000 | American Honda Finance Corp., Medium-Term Note, 3 Mo. LIBOR + 0.37% (a) | 4.96% | 05/10/23 | 20009158 |
| 4000000 | BMW US Capital LLC (b) | 3.80% | 04/06/23 | 3993050 |

---

---

| |
|:---|
| **First Trust Enhanced Short Maturity ETF (FTSM)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **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)** |
|  | **Auto Manufacturers (Continued)** |  |  |  |
| $6159000 | BMW US Capital LLC, SOFR Compounded Index + 0.53% (a) (b) | 4.85% | 04/01/24 | $6141269 |
| 4000000 | Daimler Trucks Finance North America LLC (b) | 1.13% | 12/14/23 | 3867071 |
| 5000000 | Daimler Trucks Finance North America LLC, SOFR + 0.60% (a) (b) | 4.92% | 12/14/23 | 4995766 |
| 3900000 | General Motors Financial Co., Inc. | 4.15% | 06/19/23 | 3888499 |
| 15000000 | General Motors Financial Co., Inc., SOFR + 0.76% (a) | 5.03% | 03/08/24 | 14896855 |
| 12600000 | Hyundai Capital America (b) | 2.38% | 02/10/23 | 12590282 |
| 7000000 | Hyundai Capital America (b) | 1.00% | 09/17/24 | 6540325 |
| 9773000 | Mercedes-Benz Finance North America LLC (b) | 3.35% | 02/22/23 | 9766747 |
| 19610000 | Mercedes-Benz Finance North America LLC (b) | 1.75% | 03/10/23 | 19548788 |
| 3000000 | Nissan Motor Acceptance Co. LLC, 3 Mo. LIBOR + 0.64% (a) (b) | 5.37% | 03/08/24 | 2972932 |
| 10000000 | Toyota Motor Credit Corp., Series B, SOFR + 0.29% (a) | 4.58% | 09/13/24 | 9976307 |
| 1000000 | Toyota Motor Credit Corp., Medium-Term Note | 2.50% | 03/22/24 | 976362 |
| 15676000 | Volkswagen Group of America Finance LLC (b) | 3.13% | 05/12/23 | 15598435 |
|  |  |  |  | 135761846 |
|  | **Banks — 5.1%** |  |  |  |
| 25589000 | Bank of America Corp. (c) | 3.55% | 03/05/24 | 25549835 |
| 10000000 | Bank of America Corp., SOFR + 0.69% (a) | 5.01% | 04/22/25 | 9951394 |
| 1000000 | Bank of America Corp., Medium-Term Note, 3 Mo. LIBOR + 0.79% (a) | 5.56% | 03/05/24 | 1000409 |
| 15000000 | Bank of America Corp., Medium-Term Note, 3 Mo. Bloomberg Short Term Bank Yield + 0.43% (a) | 4.96% | 05/28/24 | 14920200 |
| 23004000 | Bank of America Corp., Medium-Term Note (c) | 3.86% | 07/23/24 | 22868585 |
| 4136000 | Citigroup, Inc. (c) | 1.68% | 05/15/24 | 4095387 |
| 31969000 | Citigroup, Inc. (c) | 4.04% | 06/01/24 | 31856420 |
| 4300000 | Discover Bank | 3.35% | 02/06/23 | 4299302 |
| 10588000 | Fifth Third Bancorp | 1.63% | 05/05/23 | 10500380 |
| 5341000 | Fifth Third Bancorp | 3.65% | 01/25/24 | 5276644 |
| 3000000 | Goldman Sachs Group (The), Inc. | 0.52% | 03/08/23 | 2987040 |
| 7000000 | Goldman Sachs Group (The), Inc. | 1.22% | 12/06/23 | 6785184 |
| 25000000 | Goldman Sachs Group (The), Inc. | 3.63% | 02/20/24 | 24652155 |
| 26844000 | Goldman Sachs Group (The), Inc. | 3.00% | 03/15/24 | 26316532 |
| 12500000 | Goldman Sachs Group (The), Inc., SOFR + 0.50% (a) | 4.79% | 09/10/24 | 12463879 |
| 4000000 | Goldman Sachs Group (The), Inc., SOFR + 0.49% (a) | 4.81% | 10/21/24 | 3982428 |
| 11000000 | JPMorgan Chase & Co. | 3.38% | 05/01/23 | 10962601 |
| 12000000 | JPMorgan Chase & Co., SOFR + 0.58% (a) | 4.90% | 03/16/24 | 12004280 |
| 29162000 | JPMorgan Chase & Co. (c) | 3.56% | 04/23/24 | 29055696 |
| 30157000 | JPMorgan Chase & Co. (c) | 3.80% | 07/23/24 | 29958781 |
| 10000000 | JPMorgan Chase & Co., SOFR + 0.54% (a) | 4.77% | 06/01/25 | 9918495 |
| 2000000 | Morgan Stanley (c) | 0.73% | 04/05/24 | 1982737 |
| 20762000 | Morgan Stanley (c) | 3.74% | 04/24/24 | 20689904 |
| 12000000 | Morgan Stanley, Global Medium-Term Note | 3.70% | 10/23/24 | 11798996 |
| 15000000 | Morgan Stanley, Global Medium-Term Note (c) | 0.79% | 01/22/25 | 14312518 |
| 5000000 | Morgan Stanley, Medium-Term Note | 4.10% | 05/22/23 | 4987847 |
| 9507000 | Morgan Stanley, Medium-Term Note, SOFR + 0.46% | 4.78% | 01/25/24 | 9500871 |
| 516000 | State Street Corp. (c) | 4.86% | 01/26/26 | 518020 |
| 3000000 | Truist Bank, SOFR + 0.73% (a) | 5.01% | 03/09/23 | 3001952 |
| 7645000 | Truist Bank (c) | 3.69% | 08/02/24 | 7597543 |
| 15000000 | Truist Financial Corp., Medium-Term Note | 3.75% | 12/06/23 | 14877069 |
| 12000000 | Truist Financial Corp., Medium-Term Note, SOFR + 0.40% (a) | 4.68% | 06/09/25 | 11860106 |
| 3197000 | Wells Fargo & Co., Medium-Term Note | 3.75% | 01/24/24 | 3162487 |
| 2401000 | Wells Fargo & Co., Medium-Term Note (c) | 1.65% | 06/02/24 | 2372940 |
|  |  |  |  | 406068617 |

---

---

| |
|:---|
| **First Trust Enhanced Short Maturity ETF (FTSM)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **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)** |
|  | **Beverages — 0.3%** |  |  |  |
| $5000000 | Anheuser-Busch InBev Worldwide, Inc., 3 Mo. LIBOR + 0.74% (a) | 5.55% | 01/12/24 | $5009623 |
| 5898000 | Constellation Brands, Inc. | 3.60% | 05/09/24 | 5814330 |
| 1579000 | Constellation Brands, Inc. (d) | 5.00% | 02/02/26 | 1580780 |
| 10000000 | PepsiCo, Inc. | 0.40% | 10/07/23 | 9704383 |
|  |  |  |  | 22109116 |
|  | **Biotechnology — 1.4%** |  |  |  |
| 17796000 | Amgen, Inc. | 2.25% | 08/19/23 | 17527370 |
| 33756000 | Gilead Sciences, Inc. | 2.50% | 09/01/23 | 33277906 |
| 21854000 | Gilead Sciences, Inc. | 0.75% | 09/29/23 | 21255418 |
| 6976000 | Gilead Sciences, Inc. | 3.70% | 04/01/24 | 6887836 |
| 28505000 | Illumina, Inc. | 0.55% | 03/23/23 | 28335547 |
|  |  |  |  | 107284077 |
|  | **Building Materials — 0.4%** |  |  |  |
| 35060000 | Martin Marietta Materials, Inc. | 0.65% | 07/15/23 | 34349006 |
|  | **Chemicals — 0.3%** |  |  |  |
| 6650000 | Dow Chemical (The) Co. | 7.38% | 03/01/23 | 6662270 |
| 6140000 | International Flavors & Fragrances, Inc. | 3.20% | 05/01/23 | 6111398 |
| 10730000 | Union Carbide Corp. | 7.88% | 04/01/23 | 10782168 |
| 3140000 | Westlake Chemical Corp. | 0.88% | 08/15/24 | 2940846 |
|  |  |  |  | 26496682 |
|  | **Commercial Services — 0.4%** |  |  |  |
| 13043000 | Global Payments, Inc. | 3.75% | 06/01/23 | 12975523 |
| 13820000 | Global Payments, Inc. | 4.00% | 06/01/23 | 13761611 |
| 3200000 | PayPal Holdings, Inc. | 1.35% | 06/01/23 | 3163057 |
|  |  |  |  | 29900191 |
|  | **Cosmetics/Personal Care — 0.1%** |  |  |  |
| 4000000 | Unilever Capital Corp. | 3.13% | 03/22/23 | 3992880 |
|  | **Diversified Financial Services — 0.3%** |  |  |  |
| 7280000 | American Express Co. | 3.70% | 08/03/23 | 7239160 |
| 2292000 | American Express Co., 3 Mo. LIBOR + 0.75% (a) | 5.21% | 08/03/23 | 2295882 |
| 3766000 | American Express Co. | 3.38% | 05/03/24 | 3702081 |
| 8000000 | Capital One Financial Corp., SOFR + 0.69% (a) | 4.96% | 12/06/24 | 7922386 |
|  |  |  |  | 21159509 |
|  | **Electric — 4.2%** |  |  |  |
| 20305000 | Alabama Power Co., Series 13-A | 3.55% | 12/01/23 | 20114056 |
| 7224000 | American Electric Power Co., Inc., Series A, 3 Mo. LIBOR + 0.48% (a) | 5.29% | 11/01/23 | 7196743 |
| 18860000 | Baltimore Gas and Electric Co. | 3.35% | 07/01/23 | 18713600 |
| 7070000 | CenterPoint Energy, Inc., SOFR Compounded Index + 0.65% (a) | 4.78% | 05/13/24 | 6990543 |
| 10537000 | Delmarva Power & Light Co. | 3.50% | 11/15/23 | 10427755 |
| 13573000 | Dominion Energy, Inc., Series D, 3 Mo. LIBOR + 0.53% (a) | 5.30% | 09/15/23 | 13591753 |
| 3000000 | Duke Energy Corp., SOFR + 0.25% (a) | 4.54% | 06/10/23 | 2996984 |
| 20000000 | Duke Energy Corp. | 3.75% | 04/15/24 | 19739954 |
| 26335000 | Georgia Power Co., Series A | 2.10% | 07/30/23 | 25961749 |
| 19800000 | Metropolitan Edison Co. (b) | 3.50% | 03/15/23 | 19757733 |
| 31686000 | NextEra Energy Capital Holdings, Inc. | 0.65% | 03/01/23 | 31590000 |
| 5260000 | NextEra Energy Capital Holdings, Inc., SOFR Compounded Index + 0.54% (a) | 4.78% | 03/01/23 | 5260209 |

---

---

| |
|:---|
| **First Trust Enhanced Short Maturity ETF (FTSM)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **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)** |
|  | **Electric (Continued)** |  |  |  |
| $10000000 | NextEra Energy Capital Holdings, Inc., SOFR Compounded Index + 0.40% (a) | 4.47% | 11/03/23 | $9987113 |
| 10488000 | NextEra Energy Capital Holdings, Inc. | 4.26% | 09/01/24 | 10401487 |
| 11950000 | Northern States Power Co. | 2.60% | 05/15/23 | 11870390 |
| 15000000 | Oklahoma Gas and Electric Co. | 0.55% | 05/26/23 | 14792603 |
| 10000000 | Pacific Gas and Electric Co. | 4.25% | 08/01/23 | 9956759 |
| 5000000 | Pacific Gas and Electric Co. | 3.85% | 11/15/23 | 4946061 |
| 4200000 | PPL Electric Utilities Corp., SOFR + 0.33% (a) | 4.65% | 06/24/24 | 4151294 |
| 5637000 | Public Service Electric and Gas Co., Medium-Term Note | 2.38% | 05/15/23 | 5599440 |
| 25570000 | Public Service Enterprise Group, Inc. | 0.84% | 11/08/23 | 24740421 |
| 15000000 | Southern California Edison Co., SOFR Compounded Index + 0.64% (a) | 4.96% | 04/03/23 | 15005412 |
| 4000000 | Southern California Edison Co., Series J | 0.70% | 08/01/23 | 3917992 |
| 7550000 | Southern (The) Co., Series 2021, SOFR Compounded Index + 0.37% (a) | 4.49% | 05/10/23 | 7544494 |
| 2599000 | Virginia Electric and Power Co. | 3.45% | 02/15/24 | 2556937 |
| 11723000 | Virginia Electric and Power Co., Series C | 2.75% | 03/15/23 | 11704267 |
| 17749000 | WEC Energy Group, Inc. | 0.80% | 03/15/24 | 16939802 |
|  |  |  |  | 336455551 |
|  | **Environmental Control — 0.9%** |  |  |  |
| 31182000 | Republic Services, Inc. | 4.75% | 05/15/23 | 31163479 |
| 10495000 | Republic Services, Inc. | 2.50% | 08/15/24 | 10130442 |
| 26631000 | Waste Management, Inc. | 2.40% | 05/15/23 | 26433750 |
| 4937000 | Waste Management, Inc. | 3.50% | 05/15/24 | 4853635 |
|  |  |  |  | 72581306 |
|  | **Food — 0.2%** |  |  |  |
| 10000000 | ConAgra Brands, Inc. | 0.50% | 08/11/23 | 9764806 |
| 7956000 | ConAgra Brands, Inc. | 4.30% | 05/01/24 | 7875651 |
|  |  |  |  | 17640457 |
|  | **Gas — 0.4%** |  |  |  |
| 17033000 | CenterPoint Energy Resources Corp. | 0.70% | 03/02/23 | 16980180 |
| 5864000 | CenterPoint Energy Resources Corp., 3 Mo. LIBOR + 0.50% (a) | 5.28% | 03/02/23 | 5865628 |
| 5000000 | Southern California Gas Co., 3 Mo. LIBOR + 0.35% (a) | 5.10% | 09/14/23 | 4989973 |
|  |  |  |  | 27835781 |
|  | **Health Care Products — 1.8%** |  |  |  |
| 15000000 | Abbott Laboratories | 3.40% | 11/30/23 | 14853562 |
| 15000000 | Baxter International, Inc. | 0.87% | 12/01/23 | 14502612 |
| 10000000 | Baxter International, Inc., SOFR Compounded Index + 0.26% (a) | 4.50% | 12/01/23 | 9941264 |
| 9177000 | Baxter International, Inc. | 1.32% | 11/29/24 | 8618231 |
| 10000000 | Baxter International, Inc., SOFR Compounded Index + 0.44% (a) | 4.65% | 11/29/24 | 9842488 |
| 16000000 | PerkinElmer, Inc. | 0.55% | 09/15/23 | 15516119 |
| 11962000 | Stryker Corp. | 0.60% | 12/01/23 | 11534585 |
| 7681000 | Thermo Fisher Scientific, Inc., SOFR Compounded Index + 0.35% (a) | 4.67% | 04/18/23 | 7680730 |
| 31576000 | Thermo Fisher Scientific, Inc. | 0.80% | 10/18/23 | 30684670 |
| 10000000 | Thermo Fisher Scientific, Inc., SOFR Compounded Index + 0.39% (a) | 4.71% | 10/18/23 | 9982627 |
| 13170000 | Thermo Fisher Scientific, Inc. | 1.22% | 10/18/24 | 12442533 |

---

---

| |
|:---|
| **First Trust Enhanced Short Maturity ETF (FTSM)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **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)** |
|  | **Health Care Products (Continued)** |  |  |  |
| $1000000 | Thermo Fisher Scientific, Inc., SOFR Compounded Index + 0.53% (a) | 4.85% | 10/18/24 | $997769 |
|  |  |  |  | 146597190 |
|  | **Health Care Services — 1.1%** |  |  |  |
| 34315000 | Aetna, Inc. | 2.80% | 06/15/23 | 34039855 |
| 15134000 | Elevance Health, Inc. | 0.45% | 03/15/23 | 15054602 |
| 1667000 | Elevance Health, Inc. (d) | 4.90% | 02/08/26 | 1668774 |
| 33000000 | Humana, Inc. | 0.65% | 08/03/23 | 32272428 |
| 4799000 | UnitedHealth Group, Inc. | 3.50% | 06/15/23 | 4776403 |
|  |  |  |  | 87812062 |
|  | **Insurance — 1.0%** |  |  |  |
| 15035000 | Allstate (The) Corp. | 3.15% | 06/15/23 | 14938489 |
| 5000000 | Athene Global Funding, SOFR Compounded Index + 0.70% (a) (b) | 4.90% | 05/24/24 | 4958210 |
| 3000000 | Brighthouse Financial Global Funding, SOFR + 0.76% (a) (b) | 5.08% | 04/12/24 | 2985693 |
| 11587000 | Marsh & McLennan Cos., Inc. | 4.05% | 10/15/23 | 11481508 |
| 15503000 | Marsh & McLennan Cos., Inc. | 3.88% | 03/15/24 | 15335312 |
| 7000000 | Metropolitan Life Global Funding I, SOFR + 0.30% (a) (b) | 4.62% | 09/27/24 | 6971655 |
| 5000000 | New York Life Global Funding, SOFR Compounded Index + 0.43% (a) (b) | 4.68% | 06/06/24 | 5004666 |
| 13054000 | Principal Life Global Funding II, SOFR + 0.45% (a) (b) | 4.77% | 04/12/24 | 13002518 |
| 5000000 | Principal Life Global Funding II, SOFR + 0.38% (a) (b) | 4.58% | 08/23/24 | 4946517 |
|  |  |  |  | 79624568 |
|  | **Lodging — 0.1%** |  |  |  |
| 8000000 | Hyatt Hotels Corp. | 1.30% | 10/01/23 | 7787461 |
|  | **Machinery-Diversified — 0.4%** |  |  |  |
| 3955000 | John Deere Capital Corp., Global Medium-Term Note, 3 Mo. LIBOR + 0.55% (a) | 5.27% | 06/07/23 | 3958536 |
| 9500000 | John Deere Capital Corp., Medium-Term Note | 0.40% | 10/10/23 | 9213286 |
| 15000000 | Rockwell Automation, Inc. | 0.35% | 08/15/23 | 14646006 |
|  |  |  |  | 27817828 |
|  | **Media — 0.2%** |  |  |  |
| 11612000 | Charter Communications Operating LLC / Charter Communications Operating Capital, 3 Mo. LIBOR + 1.65% (a) | 6.46% | 02/01/24 | 11699794 |
| 1295000 | Time Warner Cable Enterprises LLC | 8.38% | 03/15/23 | 1300377 |
|  |  |  |  | 13000171 |
|  | **Miscellaneous Manufacturing — 0.2%** |  |  |  |
| 7346000 | Parker-Hannifin Corp. | 3.65% | 06/15/24 | 7224259 |
| 9100000 | Teledyne Technologies, Inc. | 0.65% | 04/01/23 | 9029860 |
|  |  |  |  | 16254119 |
|  | **Oil & Gas — 0.1%** |  |  |  |
| 5000000 | Chevron Corp. | 1.14% | 05/11/23 | 4950967 |
|  | **Pharmaceuticals — 5.0%** |  |  |  |
| 34847000 | AbbVie, Inc. | 2.85% | 05/14/23 | 34641451 |
| 15000000 | AbbVie, Inc. | 3.75% | 11/14/23 | 14875440 |
| 14662000 | AbbVie, Inc. | 3.85% | 06/15/24 | 14485693 |
| 9816000 | AbbVie, Inc. | 2.60% | 11/21/24 | 9463194 |
| 29271000 | AmerisourceBergen Corp. | 0.74% | 03/15/23 | 29128994 |

---

---

| |
|:---|
| **First Trust Enhanced Short Maturity ETF (FTSM)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **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)** |
|  | **Pharmaceuticals (Continued)** |  |  |  |
| $14575000 | AmerisourceBergen Corp. | 3.40% | 05/15/24 | $14293762 |
| 19780000 | Astrazeneca Finance LLC | 0.70% | 05/28/24 | 18789883 |
| 41160000 | Bayer US Finance II LLC (b) | 3.88% | 12/15/23 | 40645702 |
| 15126000 | Bristol-Myers Squibb Co. | 3.25% | 11/01/23 | 14966819 |
| 24205000 | Cigna Corp. | 3.00% | 07/15/23 | 23991878 |
| 31381000 | Cigna Corp. | 3.75% | 07/15/23 | 31211461 |
| 5000000 | Cigna Corp. | 3.50% | 06/15/24 | 4914188 |
| 29320000 | CVS Health Corp. | 4.00% | 12/05/23 | 29105192 |
| 6000000 | CVS Health Corp. | 3.38% | 08/12/24 | 5872923 |
| 4954000 | CVS Health Corp. | 2.63% | 08/15/24 | 4799978 |
| 40964000 | Johnson & Johnson | 3.38% | 12/05/23 | 40695213 |
| 30090000 | McKesson Corp. | 3.80% | 03/15/24 | 29703153 |
| 34013000 | Zoetis, Inc. | 3.25% | 02/01/23 | 34013000 |
|  |  |  |  | 395597924 |
|  | **Pipelines — 1.7%** |  |  |  |
| 25460000 | Energy Transfer, L.P. | 3.60% | 02/01/23 | 25460000 |
| 20014000 | Energy Transfer, L.P. | 5.88% | 01/15/24 | 20104774 |
| 4423000 | Energy Transfer, L.P. / Regency Energy Finance Corp. | 4.50% | 11/01/23 | 4401053 |
| 34670000 | Enterprise Products Operating LLC | 3.35% | 03/15/23 | 34609892 |
| 5218000 | Enterprise Products Operating LLC | 3.90% | 02/15/24 | 5162461 |
| 2989000 | Kinder Morgan Energy Partners, L.P. | 3.45% | 02/15/23 | 2987301 |
| 20320000 | Kinder Morgan, Inc. (b) | 5.63% | 11/15/23 | 20364466 |
| 10958000 | Spectra Energy Partners, L.P. | 4.75% | 03/15/24 | 10916923 |
| 10601000 | Williams Cos., (The), Inc. | 4.50% | 11/15/23 | 10566029 |
|  |  |  |  | 134572899 |
|  | **Real Estate Investment Trusts — 0.4%** |  |  |  |
| 17074000 | Crown Castle, Inc. | 3.15% | 07/15/23 | 16945950 |
| 15190000 | Public Storage, SOFR + 0.47% (a) | 4.79% | 04/23/24 | 15149119 |
|  |  |  |  | 32095069 |
|  | **Retail — 0.5%** |  |  |  |
| 3000000 | AutoZone, Inc. | 3.13% | 07/15/23 | 2974064 |
| 11880000 | Lowe's Cos., Inc. | 3.88% | 09/15/23 | 11799556 |
| 22327000 | O'reilly Automotive, Inc. | 3.85% | 06/15/23 | 22267415 |
|  |  |  |  | 37041035 |
|  | **Semiconductors — 0.7%** |  |  |  |
| 9955000 | Marvell Technology, Inc. | 4.20% | 06/22/23 | 9910304 |
| 16156000 | Microchip Technology, Inc. | 4.33% | 06/01/23 | 16104691 |
| 5820000 | Microchip Technology, Inc. | 0.98% | 09/01/24 | 5452099 |
| 1727000 | Qorvo, Inc. (b) | 1.75% | 12/15/24 | 1617871 |
| 25108000 | Skyworks Solutions, Inc. | 0.90% | 06/01/23 | 24722087 |
|  |  |  |  | 57807052 |
|  | **Software — 2.9%** |  |  |  |
| 7349000 | Cadence Design Systems, Inc. | 4.38% | 10/15/24 | 7329922 |
| 31545000 | Fidelity National Information Services, Inc. | 0.38% | 03/01/23 | 31444756 |
| 32712000 | Fiserv, Inc. | 3.80% | 10/01/23 | 32452623 |
| 7000000 | Fiserv, Inc. | 2.75% | 07/01/24 | 6785013 |
| 19467000 | Infor, Inc. (b) | 1.45% | 07/15/23 | 19054769 |
| 8979000 | Microsoft Corp. | 3.63% | 12/15/23 | 8900595 |
| 33959000 | Oracle Corp. | 2.63% | 02/15/23 | 33928154 |

---

---

| |
|:---|
| **First Trust Enhanced Short Maturity ETF (FTSM)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** | **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)** | **CORPORATE BONDS AND NOTES (Continued)** | **CORPORATE BONDS AND NOTES (Continued)** |
|  |  | **Software (Continued)** |  |  |  |  |
| $| 825000 | Oracle Corp. | 3.63% | 07/15/23 | $| 820266 |
|  | 16849000 | Oracle Corp. | 2.40% | 09/15/23 |  | 16582113 |
|  | 13678000 | Oracle Corp. | 3.40% | 07/08/24 |  | 13407357 |
|  | 34542000 | Roper Technologies, Inc. | 3.65% | 09/15/23 |  | 34258515 |
|  | 996000 | Roper Technologies, Inc. | 2.35% | 09/15/24 |  | 956102 |
|  | 24287000 | VMware, Inc. | 0.60% | 08/15/23 |  | 23737902 |
|  | 3000000 | VMware, Inc. | 1.00% | 08/15/24 |  | 2821511 |
|  |  |  |  |  |  | 232479598 |
|  |  | **Telecommunications — 0.4%** |  |  |  |  |
|  | 9936000 | AT&T, Inc., SOFR Compounded Index + 0.64% (a) | 4.96% | 03/25/24 |  | 9936545 |
|  | 10000000 | AT&T, Inc., 3 Mo. LIBOR + 1.18% (a) | 5.92% | 06/12/24 |  | 10108264 |
|  | 11421000 | Verizon Communications, Inc., SOFR Compounded Index + 0.50% (a) | 4.82% | 03/22/24 |  | 11398280 |
|  |  |  |  |  |  | 31443089 |
|  |  | **Transportation — 1.0%** |  |  |  |  |
|  | 15000000 | CSX Corp. | 3.40% | 08/01/24 |  | 14711356 |
|  | 26512000 | Norfolk Southern Corp. | 2.90% | 02/15/23 |  | 26494556 |
|  | 3254000 | Union Pacific Corp. | 2.75% | 04/15/23 |  | 3239121 |
|  | 22265000 | Union Pacific Corp. | 3.50% | 06/08/23 |  | 22157890 |
|  | 12323000 | Union Pacific Corp. | 3.65% | 02/15/24 |  | 12170936 |
|  | 3000000 | United Parcel Service, Inc. | 2.50% | 04/01/23 |  | 2988439 |
|  |  |  |  |  |  | 81762298 |
|  |  | **Water — 0.0%** |  |  |  |  |
|  | 3138000 | American Water Capital Corp. | 3.85% | 03/01/24 |  | 3097876 |
|  |  | **Total Corporate Bonds and Notes** |  |  |  | 2726577272 |
|  |  | (Cost $2,738,289,871) |  |  |  |  |
| **FOREIGN CORPORATE BONDS AND NOTES — 7.4%** | **FOREIGN CORPORATE BONDS AND NOTES — 7.4%** | **FOREIGN CORPORATE BONDS AND NOTES — 7.4%** | **FOREIGN CORPORATE BONDS AND NOTES — 7.4%** | **FOREIGN CORPORATE BONDS AND NOTES — 7.4%** | **FOREIGN CORPORATE BONDS AND NOTES — 7.4%** | **FOREIGN CORPORATE BONDS AND NOTES — 7.4%** |
|  |  | **Banks — 3.8%** |  |  |  |  |
|  | 10000000 | Bank of Montreal, Medium-Term Note, SOFR Compounded Index + 0.32% (a) | 4.64% | 07/09/24 |  | 9963286 |
|  | 16043000 | Bank of Montreal, Medium-Term Note, Series E | 3.30% | 02/05/24 |  | 15788386 |
|  | 15000000 | Bank of Montreal, Medium-Term Note, Series H | 4.25% | 09/14/24 |  | 14861966 |
|  | 25000000 | Bank of Nova Scotia (The), SOFR Compounded Index + 0.45% (a) | 4.77% | 04/15/24 |  | 24971574 |
|  | 8000000 | Bank of Nova Scotia (The), SOFR + 0.38% (a) | 4.56% | 07/31/24 |  | 7971216 |
|  | 5000000 | Banque Federative du Credit Mutuel S.A., SOFR Compounded Index + 0.41% (a) (b) | 4.49% | 02/04/25 |  | 4932835 |
|  | 15623000 | Barclays PLC (c) | 4.34% | 05/16/24 |  | 15558465 |
|  | 17625000 | Canadian Imperial Bank of Commerce, SOFR + 0.80% (a) | 5.12% | 03/17/23 |  | 17636736 |
|  | 8500000 | Canadian Imperial Bank of Commerce, SOFR + 0.34% (a) | 4.66% | 06/22/23 |  | 8497683 |
|  | 18275000 | Cooperatieve Rabobank UA (b) | 3.88% | 09/26/23 |  | 18153777 |
|  | 5000000 | Credit Suisse AG/New York NY | 0.52% | 08/09/23 |  | 4838043 |
|  | 10000000 | Credit Suisse AG/New York NY, SOFR Compounded Index + 0.38% (a) | 4.50% | 08/09/23 |  | 9869950 |
|  | 5000000 | Danske Bank A/S (b) (c) | 0.98% | 09/10/25 |  | 4607049 |
|  | 4992000 | Deutsche Bank AG/New York NY | 3.95% | 02/27/23 |  | 4986692 |
|  | 10000000 | Deutsche Bank AG/New York NY, Series E, SOFR + 0.50% (a) | 4.61% | 11/08/23 |  | 9971082 |

---

---

| |
|:---|
| **First Trust Enhanced Short Maturity ETF (FTSM)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **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)** |  |  |  |
| $6200000 | Federation des Caisses Desjardins du Quebec, SOFR + 0.43% (a) (b) | 4.62% | 05/21/24 | $6175945 |
| 6000000 | ING Groep N.V., 3 Mo. LIBOR + 1.00% (a) | 5.75% | 10/02/23 | 6019670 |
| 11282000 | Lloyds Banking Group PLC | 4.05% | 08/16/23 | 11221481 |
| 5000000 | Macquarie Group Ltd., SOFR + 0.71% (a) (b) | 5.03% | 10/14/25 | 4927724 |
| 10991000 | Mitsubishi UFJ Financial Group, Inc., 3 Mo. LIBOR + 0.74% (a) | 5.52% | 03/02/23 | 10996500 |
| 3306000 | Mizuho Financial Group, Inc. (c) | 0.85% | 09/08/24 | 3211468 |
| 5000000 | National Bank of Canada, SOFR + 0.49% (a) | 4.58% | 08/06/24 | 4984898 |
| 7615000 | NatWest Group PLC (c) | 2.36% | 05/22/24 | 7533400 |
| 14885000 | NatWest Markets PLC, SOFR + 0.53% (a) (b) | 4.66% | 08/12/24 | 14763142 |
| 8000000 | Royal Bank of Canada, SOFR Compounded Index + 0.36% (a) | 4.68% | 07/29/24 | 7974445 |
| 18454000 | Royal Bank of Canada, Global Medium-Term Note, SOFR Compounded Index + 0.30% (a) | 4.62% | 01/19/24 | 18413746 |
| 10000000 | Sumitomo Mitsui Trust Bank Ltd., SOFR + 0.44% (a) (b) | 4.75% | 09/16/24 | 9962816 |
| 3000000 | Toronto-Dominion Bank (The), Medium-Term Note | 2.35% | 03/08/24 | 2923839 |
| 10000000 | Toronto-Dominion Bank (The), Medium-Term Note, SOFR + 0.91% (a) | 5.18% | 03/08/24 | 10041001 |
| 5000000 | UBS AG/London, SOFR + 0.45% (a) (b) | 4.57% | 08/09/24 | 4994952 |
| 2315000 | UBS Group AG (b) (c) | 1.01% | 07/30/24 | 2266776 |
|  |  |  |  | 299020543 |
|  | **Beverages — 0.5%** |  |  |  |
| 31632000 | Heineken N.V. (b) | 2.75% | 04/01/23 | 31500384 |
| 11000000 | JDE Peet's N.V. (b) | 0.80% | 09/24/24 | 10164579 |
|  |  |  |  | 41664963 |
|  | **Biotechnology — 0.4%** |  |  |  |
| 30000000 | Royalty Pharma PLC | 0.75% | 09/02/23 | 29245175 |
|  | **Chemicals — 0.2%** |  |  |  |
| 18939000 | Nutrien Ltd. | 1.90% | 05/13/23 | 18772368 |
|  | **Insurance — 0.1%** |  |  |  |
| 10553000 | Aon Global Ltd. | 4.00% | 11/27/23 | 10505550 |
|  | **Pharmaceuticals — 1.2%** |  |  |  |
| 12436000 | AstraZeneca PLC | 0.30% | 05/26/23 | 12261060 |
| 12000000 | AstraZeneca PLC | 3.50% | 08/17/23 | 11914376 |
| 8860000 | GlaxoSmithKline Capital PLC | 0.53% | 10/01/23 | 8609665 |
| 5275000 | Sanofi | 3.38% | 06/19/23 | 5240700 |
| 30393000 | Shire Acquisitions Investments Ireland DAC | 2.88% | 09/23/23 | 29942997 |
| 26320000 | Takeda Pharmaceutical Co., Ltd. | 4.40% | 11/26/23 | 26220582 |
|  |  |  |  | 94189380 |
|  | **Pipelines — 0.8%** |  |  |  |
| 2000000 | Enbridge, Inc., SOFR + 0.40% (a) | 4.56% | 02/17/23 | 1999935 |
| 17142000 | Enbridge, Inc. | 4.00% | 10/01/23 | 17023671 |
| 5442000 | Enbridge, Inc. | 0.55% | 10/04/23 | 5280639 |
| 3000000 | Enbridge, Inc., SOFR Compounded Index + 0.63% (a) | 4.79% | 02/16/24 | 2989972 |
| 36500000 | Transcanada Pipelines Ltd. | 3.75% | 10/16/23 | 36176678 |
|  |  |  |  | 63470895 |
|  | **Semiconductors — 0.2%** |  |  |  |
| 15055000 | Broadcom Corp. / Broadcom Cayman Finance Ltd. | 3.63% | 01/15/24 | 14845412 |
|  | **Transportation — 0.2%** |  |  |  |
| 8916000 | Canadian Pacific Railway Co. | 4.45% | 03/15/23 | 8915316 |

---

---

| |
|:---|
| **First Trust Enhanced Short Maturity ETF (FTSM)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** | **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)** | **FOREIGN CORPORATE BONDS AND NOTES (Continued)** | **FOREIGN CORPORATE BONDS AND NOTES (Continued)** |
|  |  | **Transportation (Continued)** |  |  |  |  |
| $| 5000000 | Canadian Pacific Railway Co. | 1.35% | 12/02/24 | $| 4700491 |
|  |  |  |  |  |  | 13615807 |
|  |  | **Total Foreign Corporate Bonds and Notes** |  |  |  | 585330093 |
|  |  | (Cost $588,796,695) |  |  |  |  |
| **U.S. GOVERNMENT BONDS AND NOTES — 6.1%** | **U.S. GOVERNMENT BONDS AND NOTES — 6.1%** | **U.S. GOVERNMENT BONDS AND NOTES — 6.1%** | **U.S. GOVERNMENT BONDS AND NOTES — 6.1%** | **U.S. GOVERNMENT BONDS AND NOTES — 6.1%** | **U.S. GOVERNMENT BONDS AND NOTES — 6.1%** | **U.S. GOVERNMENT BONDS AND NOTES — 6.1%** |
|  | 60000000 | U.S. Treasury Note | 2.50% | 03/31/23 |  | 59793635 |
|  | 10000000 | U.S. Treasury Note | 2.75% | 04/30/23 |  | 9951274 |
|  | 60000000 | U.S. Treasury Note | 1.75% | 05/15/23 |  | 59487557 |
|  | 85000000 | U.S. Treasury Note | 2.50% | 08/15/23 |  | 83966268 |
|  | 25000000 | U.S. Treasury Note | 2.88% | 10/31/23 |  | 24651283 |
|  | 86000000 | U.S. Treasury Note | 2.75% | 11/15/23 |  | 84672923 |
|  | 165000000 | U.S. Treasury Note | 2.50% | 01/31/24 |  | 161417774 |
|  |  | **Total U.S. Government Bonds and Notes** |  |  |  | 483940714 |
|  |  | (Cost $485,963,830) |  |  |  |  |
| **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 2.8%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 2.8%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 2.8%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 2.8%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 2.8%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 2.8%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 2.8%** |
|  |  | **Collateralized Mortgage Obligations — 0.2%** |  |  |  |  |
|  |  | Federal Home Loan Mortgage Corporation |  |  |  |  |
|  | 79092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2003-2723, Class KN | 5.00% | 12/15/23 |  | 78837 |
|  | 190253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2004-2783, Class YB | 5.00% | 04/15/24 |  | 189432 |
|  | 109907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-4387, Class DE | 2.00% | 01/15/32 |  | 109014 |
|  | 4858367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-4671, Class CA | 3.50% | 08/15/43 |  | 4767901 |
|  |  | Federal National Mortgage Association |  |  |  |  |
|  | 250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-14, Class EB | 4.50% | 03/25/24 |  | 249 |
|  | 43 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-52, Class AJ | 4.00% | 07/25/24 |  | 43 |
|  | 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2011-15, Class HT | 5.50% | 03/25/26 |  | 1 |
|  | 88314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-74, Class EL | 3.00% | 04/25/41 |  | 87903 |
|  | 2211056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-20, Class NA | 3.00% | 06/25/33 |  | 2134621 |
|  | 1878080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-28, Class GC | 2.50% | 06/25/34 |  | 1801349 |
|  | 3132613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-18, Class VB | 3.00% | 05/25/40 |  | 3083686 |
|  |  |  |  |  |  | 12253036 |
|  |  | **Commercial Mortgage-Backed Securities — 2.6%** |  |  |  |  |
|  |  | Federal Home Loan Mortgage Corporation Multifamily Structured Pass Through Certificates |  |  |  |  |
|  | 22703490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-K030, Class A2 | 3.25% | 04/25/23 |  | 22609904 |
|  | 22177906 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-K031, Class A2 | 3.30% | 04/25/23 |  | 22057688 |
|  | 40507477 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-K032, Class A2 | 3.31% | 05/25/23 |  | 40218821 |
|  | 39727511 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-K034, Class A2 | 3.53% | 07/25/23 |  | 39408416 |
|  | 27275976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-K035, Class A2 | 3.46% | 08/25/23 |  | 27040898 |
|  | 31942295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-K036, Class A2 | 3.53% | 10/25/23 |  | 31599053 |
|  | 12978869 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-K038, Class A2 | 3.39% | 03/25/24 |  | 12753029 |
|  | 5267519 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-K041, Class A1 | 2.72% | 08/25/24 |  | 5227613 |
|  | 4009609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-K046, Class A1 | 2.70% | 01/25/25 |  | 3946435 |

---

---

| |
|:---|
| **First Trust Enhanced Short Maturity ETF (FTSM)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** | **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)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES (Continued)** |
|  |  | **Commercial Mortgage-Backed Securities (Continued)** |  |  |  |  |
|  |  | Federal Home Loan Mortgage Corporation Multifamily Structured Pass Through Certificates (Continued) |  |  |  |  |
| $| 3673993 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-KJ12, Class A2 | 3.04% | 08/25/24 | $| 3632523 |
|  |  |  |  |  |  | 208494380 |
|  |  | **Pass-through Securities — 0.0%** |  |  |  |  |
|  |  | Federal Home Loan Mortgage Corporation |  |  |  |  |
|  | 1493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool G15435 | 5.00% | 11/01/24 |  | 1520 |
|  | 1550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool G15821 | 5.00% | 07/01/25 |  | 1578 |
|  | 4125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool G15874 | 5.00% | 06/01/26 |  | 4201 |
|  |  | Federal National Mortgage Association |  |  |  |  |
|  | 138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 890403 | 6.00% | 05/01/23 |  | 138 |
|  | 2139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 962078 | 4.50% | 03/01/23 |  | 2157 |
|  | 10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AE0237 | 5.50% | 11/01/23 |  | 10 |
|  | 3889 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AE0812 | 5.00% | 07/01/25 |  | 3956 |
|  | 6322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AL5764 | 5.00% | 09/01/25 |  | 6431 |
|  | 382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AL5812 | 5.50% | 05/01/25 |  | 380 |
|  | 1915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AL6212 | 4.50% | 01/01/27 |  | 1936 |
|  | 6863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AL6798 | 5.00% | 09/01/25 |  | 6982 |
|  | 12 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AL8539 | 4.50% | 01/01/27 |  | 12 |
|  | 63764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool BM1299 | 5.00% | 03/01/27 |  | 64871 |
|  |  | Government National Mortgage Association |  |  |  |  |
|  | 2693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 783524 | 5.00% | 09/15/24 |  | 2743 |
|  |  |  |  |  |  | 96915 |
|  |  | **Total U.S. Government Agency Mortgage-Backed Securities** |  |  |  | 220844331 |
|  |  | (Cost $222,055,208) |  |  |  |  |
| **ASSET-BACKED SECURITIES — 2.8%** | **ASSET-BACKED SECURITIES — 2.8%** | **ASSET-BACKED SECURITIES — 2.8%** | **ASSET-BACKED SECURITIES — 2.8%** | **ASSET-BACKED SECURITIES — 2.8%** | **ASSET-BACKED SECURITIES — 2.8%** | **ASSET-BACKED SECURITIES — 2.8%** |
|  |  | American Credit Acceptance Receivables Trust |  |  |  |  |
|  | 102395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-4, Class A (b) | 0.45% | 09/15/25 |  | 102229 |
|  | 2159053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-1, Class A (b) | 0.99% | 12/15/25 |  | 2145991 |
|  |  | Avis Budget Rental Car Funding AESOP LLC |  |  |  |  |
|  | 6518333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-2A, Class A (b) | 2.97% | 03/20/24 |  | 6504603 |
|  |  | BMW Vehicle Owner Trust |  |  |  |  |
|  | 12277495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-A, Class A2A | 2.52% | 12/26/24 |  | 12148816 |
|  |  | Chase Auto Owner Trust |  |  |  |  |
|  | 13200000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-AA, Class A2 (b) | 3.86% | 10/27/25 |  | 13104887 |
|  |  | DT Auto Owner Trust |  |  |  |  |
|  | 2812539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-4A, Class A (b) | 0.56% | 09/15/25 |  | 2776528 |
|  | 4954827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-1A, Class A (b) | 1.58% | 04/15/26 |  | 4870161 |
|  |  | Exeter Automobile Receivables Trust |  |  |  |  |
|  | 3102834 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-3A, Class C | 1.32% | 07/15/25 |  | 3072784 |
|  |  | First Investors Auto Owner Trust |  |  |  |  |
|  | 1354877 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1A, Class A (b) | 0.45% | 03/16/26 |  | 1341784 |
|  |  | Flagship Credit Auto Trust |  |  |  |  |
|  | 4717538 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-3, Class A (b) | 0.36% | 07/15/27 |  | 4577967 |
|  |  | Ford Credit Auto Owner Trust |  |  |  |  |
|  | 5043156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-B, Class A2A | 3.44% | 02/15/25 |  | 5004746 |

---

---

| |
|:---|
| **First Trust Enhanced Short Maturity ETF (FTSM)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** |
|  | Foursight Capital Automobile Receivables Trust |  |  |  |
| $1966510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-1, Class A2 (b) | 1.15% | 09/15/25 | $1936282 |
|  | GLS Auto Receivables Issuer Trust |  |  |  |
| 1632981 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-3A, Class A (b) | 0.42% | 01/15/25 | 1626331 |
| 2921899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-4A, Class A (b) | 0.84% | 07/15/25 | 2880932 |
|  | GLS Auto Receivables Trust |  |  |  |
| 2479527 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-1A, Class A (b) | 1.98% | 08/15/25 | 2448346 |
|  | GM Financial Automobile Leasing Trust |  |  |  |
| 1428778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-3, Class A2A | 4.01% | 10/21/24 | 1418564 |
|  | GM Financial Consumer Automobile Receivables Trust |  |  |  |
| 9753641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-2, Class A2 | 2.52% | 05/16/25 | 9644265 |
|  | Honda Auto Receivables Owner Trust |  |  |  |
| 14100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-2, Class A2 | 3.81% | 03/18/25 | 13974978 |
|  | Hyundai Auto Receivables Trust |  |  |  |
| 4152852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-A, Class A2A | 1.81% | 02/18/25 | 4101755 |
|  | John Deere Owner Trust |  |  |  |
| 20000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-C, Class A2 | 4.98% | 08/15/25 | 19993810 |
|  | MVW Owner Trust |  |  |  |
| 1532742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-1A, Class A (b) | 3.45% | 01/21/36 | 1493261 |
|  | OSCAR US Funding Trust IX LLC |  |  |  |
| 913064 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-2A, Class A4 (b) | 3.63% | 09/10/25 | 910656 |
|  | OSCAR US Funding Trust VIII LLC |  |  |  |
| 112027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-1A, Class A4 (b) | 3.50% | 05/12/25 | 111851 |
|  | OSCAR US Funding XIII LLC |  |  |  |
| 5303470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-2A, Class A2 (b) | 0.39% | 08/12/24 | 5256717 |
|  | OSCAR US Funding XIV LLC |  |  |  |
| 7038025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-1A, Class A2 (b) | 1.60% | 03/10/25 | 6907429 |
|  | Santander Retail Auto Lease Trust |  |  |  |
| 214191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-B, Class A2 (b) | 0.31% | 01/22/24 | 213668 |
|  | Sierra Timeshare Receivables Funding LLC |  |  |  |
| 3796333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-2A, Class A (b) | 3.50% | 06/20/35 | 3727533 |
|  | Toyota Auto Receivables Owner Trust |  |  |  |
| 7500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-C, Class A2A | 3.83% | 08/15/25 | 7434504 |
|  | Verizon Master Trust |  |  |  |
| 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-1, Class A (e) | 1.04% | 01/20/27 | 2944016 |
| 20862000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-3, Class A, steps up to 3.76% on 11/20/23 (e) | 3.01% | 05/20/27 | 20531531 |
| 14000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-5, Class A1A, steps up to 4.47% on 01/20/24 (e) | 3.72% | 07/20/27 | 13825531 |
|  | Westlake Automobile Receivables Trust |  |  |  |
| 2955629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-2A, Class A2A (b) | 0.32% | 04/15/25 | 2928904 |
| 3528816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-3A, Class A2 (b) | 0.57% | 09/16/24 | 3507432 |
| 6000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-1A, Class A3 (b) | 2.42% | 07/15/25 | 5865053 |
|  | World Omni Auto Receivables Trust |  |  |  |
| 13817642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-B, Class A2A | 2.77% | 10/15/25 | 13648443 |

---

---

| |
|:---|
| **First Trust Enhanced Short Maturity ETF (FTSM)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** | **Value** |
| **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** |
|  |  | World Omni Auto Receivables Trust (Continued) |  |  |  |  |
| $| 15000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-C, Class A2 | 3.73% | 03/16/26 | $| 14840557 |
|  |  | **Total Asset-Backed Securities** |  |  |  | 217822845 |
|  |  | (Cost $220,406,328) |  |  |  |  |
| **MORTGAGE-BACKED SECURITIES — 1.2%** | **MORTGAGE-BACKED SECURITIES — 1.2%** | **MORTGAGE-BACKED SECURITIES — 1.2%** | **MORTGAGE-BACKED SECURITIES — 1.2%** | **MORTGAGE-BACKED SECURITIES — 1.2%** | **MORTGAGE-BACKED SECURITIES — 1.2%** | **MORTGAGE-BACKED SECURITIES — 1.2%** |
|  |  | **Collateralized Mortgage Obligations — 0.6%** |  |  |  |  |
|  |  | BRAVO Residential Funding Trust |  |  |  |  |
|  | 6297764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-NQM1, Class A1 (b) | 0.94% | 02/25/49 |  | 5610293 |
|  |  | CIM Trust |  |  |  |  |
|  | 1341081 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-INV1, Class A2, 1 Mo. LIBOR + 1.00% (a) (b) | 5.39% | 02/25/49 |  | 1296115 |
|  | 677243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-INV2, Class A11, 1 Mo. LIBOR + 0.95% (a) (b) | 5.34% | 05/25/49 |  | 662696 |
|  | 4955324 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-INV3, Class A11, 1 Mo. LIBOR + 1.00% (a) (b) | 5.34% | 08/25/49 |  | 4718301 |
|  |  | COLT Mortgage Loan Trust |  |  |  |  |
|  | 3346328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-2R, Class A1 (b) | 1.33% | 10/26/65 |  | 3040958 |
|  |  | Credit Suisse Mortgage Trust |  |  |  |  |
|  | 4679004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-AFC1, Class A1, Class A1, steps up to 3.57% on 08/26/23 (b) (e) | 2.57% | 07/25/49 |  | 4413073 |
|  | 5106618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-NQM1, Class A1, steps up to 2.21% on 09/26/24 (b) (e) | 1.21% | 05/25/65 |  | 4701225 |
|  |  | GCAT Trust |  |  |  |  |
|  | 2753439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-NQM1, Class A1, steps up to 3.25% on 02/26/24 (b) (e) | 2.25% | 01/25/60 |  | 2618333 |
|  |  | JP Morgan Mortgage Trust |  |  |  |  |
|  | 3262539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-7, Class A11, 1 Mo. LIBOR + 0.90% (a) (b) | 5.29% | 02/25/50 |  | 3123294 |
|  | 202051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-8, Class A11, 1 Mo. LIBOR + 0.85% (a) (b) | 5.24% | 03/25/50 |  | 187195 |
|  | 2899284 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-INV1, Class A11, 1 Mo. LIBOR + 0.95% (a) (b) | 5.34% | 10/25/49 |  | 2818188 |
|  | 232033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-LTV2, Class A11, 1 Mo. LIBOR + 0.90% (a) (b) | 5.41% | 12/25/49 |  | 231765 |
|  | 271103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-LTV3, Class A11, 1 Mo. LIBOR + 0.85% (a) (b) | 5.24% | 03/25/50 |  | 269958 |
|  | 3785728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-2, Class A11, 1 Mo. LIBOR + 0.80% (a) (b) | 5.19% | 07/25/50 |  | 3480616 |
|  | 513889 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-LTV1, Class A11, 1 Mo. LIBOR + 1.00% (a) (b) | 5.39% | 06/25/50 |  | 507450 |
|  |  | OBX Trust |  |  |  |  |
|  | 1889597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-INV1, Class A11, 1 Mo. LIBOR + 0.90% (a) (b) | 5.29% | 12/25/49 |  | 1745454 |
|  |  | Residential Mortgage Loan Trust |  |  |  |  |
|  | 342053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-3, Class A2 (b) | 2.94% | 09/25/59 |  | 336000 |
|  |  | Starwood Mortgage Residential Trust |  |  |  |  |
|  | 1101905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-1, Class A1 (b) | 2.28% | 02/25/50 |  | 1064377 |
|  |  | Verus Securitization Trust |  |  |  |  |
|  | 1316685 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-4, Class A2, steps up to 3.85% on 10/26/23 (b) (e) | 2.85% | 11/25/59 |  | 1261985 |
|  | 798387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-INV2, Class A2, steps up to 3.95% on 08/25/23 (b) (e) | 3.12% | 07/25/59 |  | 775758 |
|  | 938088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-4, Class A2, steps up to 2.91% on 07/26/24 (b) (e) | 1.91% | 05/25/65 |  | 876115 |
|  |  |  |  |  |  | 43739149 |
|  |  | **Commercial Mortgage-Backed Securities — 0.6%** |  |  |  |  |
|  |  | COMM Mortgage Trust |  |  |  |  |
|  | 789328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-CR9, Class ASB | 3.83% | 07/10/45 |  | 787802 |
|  | 13473249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-LC13, Class A5 | 4.21% | 08/10/46 |  | 13342610 |
|  |  | FREMF Mortgage Trust |  |  |  |  |
|  | 15364000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-K29, Class B (b) (f) | 3.46% | 05/25/46 |  | 15257592 |
|  | 3495000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-K29, Class C (b) (f) | 3.46% | 05/25/46 |  | 3465369 |
|  |  | JPMBB Commercial Mortgage Securities Trust |  |  |  |  |
|  | 10195813 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-C14, Class A4 | 4.13% | 08/15/46 |  | 10127185 |

---

---

| |
|:---|
| **First Trust Enhanced Short Maturity ETF (FTSM)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **MORTGAGE-BACKED SECURITIES (Continued)** | **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)** |  |  |  |
|  |  | KNDL Mortgage Trust |  |  |  |
| $| 4100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-KNSQ, Class A, 1 Mo. LIBOR + 0.80% (a) (b) | 5.26% | 05/15/36 | $4073432 |
|  |  | Wells Fargo Commercial Mortgage Trust |  |  |  |
|  | 4436000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-LC12, Class A3FL, 1 Mo. LIBOR + 1.05% (a) (b) | 5.51% | 07/15/46 | 4432584 |
|  |  |  |  |  | 51486574 |
|  |  | **Total Mortgage-Backed Securities** |  |  | 95225723 |
|  |  | (Cost $98,389,658) |  |  |  |
| **CERTIFICATES OF DEPOSIT — 0.7%** | **CERTIFICATES OF DEPOSIT — 0.7%** | **CERTIFICATES OF DEPOSIT — 0.7%** | **CERTIFICATES OF DEPOSIT — 0.7%** | **CERTIFICATES OF DEPOSIT — 0.7%** | **CERTIFICATES OF DEPOSIT — 0.7%** |
|  |  | **Banks — 0.7%** |  |  |  |
|  | 10000000 | Bank of Montreal, SOFR + 0.52% (a) | 4.82% | 03/03/23 | 10003406 |
|  | 15000000 | Bank of Montreal, SOFR + 0.65% (a) | 4.95% | 07/03/23 | 15025074 |
|  | 15000000 | Royal Bank of Canada, SOFR + 0.50% (a) | 4.80% | 03/16/23 | 15006086 |
|  | 15000000 | Toronto-Dominion Bank (The), SOFR + 0.49% (a) | 4.79% | 02/27/23 | 15003688 |
|  |  | **Total Certificates of Deposit** |  |  | 55038254 |
|  |  | (Cost $55,000,000) |  |  |  |
|  |  | **Total Investments — 100.7%** |  |  | 7979888239 |
|  |  | (Cost $8,004,010,596) |  |  |  |
|  |  | **Net Other Assets and Liabilities — (0.7)%** |  |  | (53252173) |
|  |  | **Net Assets — 100.0%** |  |  | $7926636066 |

---

(a) Floating or variable rate security.

(b) This security, sold within the terms of a private placement memorandum, is exempt from registration upon resale under Rule 144A of the Securities Act of 1933, as amended (the "1933 Act"), and may be resold in transactions exempt from registration, normally to qualified institutional buyers. Pursuant to procedures adopted by the Trust's Board of Trustees, this security has been determined to be liquid by First Trust Advisors L.P., the Fund's advisor. Although market instability can result in periods of increased overall market illiquidity, liquidity for each security is determined based on security specific factors and assumptions, which require subjective judgment. At January 31, 2023, securities noted as such amounted to $483,981,115 or 6.1% of net assets.

(c) Fixed-to-floating or fixed-to-variable rate security. The interest rate shown reflects the fixed rate in effect at January 31, 2023. At a predetermined date, the fixed rate will change to a floating rate or a variable rate.

(d) When-issued security. The interest rate shown reflects the rate in effect at January 31, 2023. Interest will begin accruing on the security's first settlement date.

(e) Step-up security. A security where the coupon increases or steps up at a predetermined date.

(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.

LIBOR - London Interbank Offered Rate <br> SOFR - Secured Overnight Financing Rate

---

| |
|:---|
| **First Trust Enhanced Short Maturity ETF (FTSM)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| |
|:---|
| **Valuation Inputs** |
| The Fund is subject to fair value accounting standards that define fair value, establish the framework for measuring fair value and provide a three-level hierarchy for fair valuation based upon the inputs to the valuation as of the measurement date. The three levels of the fair value hierarchy are as follows:  |

---

&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.

A summary of the inputs used to value the Fund's investments as of January 31, 2023 is as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> Value at<br> 1/31/2023** | **Level 1<br> Quoted<br> Prices** | **Level 2<br> Significant<br> Observable<br> Inputs** | **Level 3<br> Significant<br> Unobservable<br> Inputs** |
| Commercial Paper\* | $3595109007 | $— | $3595109007 | $— |
| Corporate Bonds and Notes\* | 2726577272 |  | 2726577272 |  |
| Foreign Corporate Bonds and Notes\* | 585330093 |  | 585330093 |  |
| U.S. Government Bonds and Notes | 483940714 |  | 483940714 |  |
| U.S. Government Agency Mortgage-Backed Securities | 220844331 |  | 220844331 |  |
| Asset-Backed Securities | 217822845 |  | 217822845 |  |
| Mortgage-Backed Securities | 95225723 |  | 95225723 |  |
| Certificates of Deposit\* | 55038254 |  | 55038254 |  |
| Total Investments | $7979888239 | $— | $7979888239 | $— |
| \* See Portfolio of Investments for industry breakout. | \* See Portfolio of Investments for industry breakout. | \* See Portfolio of Investments for industry breakout. | \* See Portfolio of Investments for industry breakout. | \* See Portfolio of Investments for industry breakout. |

---

---

| |
|:---|
| **First Trust Low Duration Opportunities ETF (LMBS)** |
| **Portfolio of Investments** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 78.2%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 78.2%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 78.2%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 78.2%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 78.2%** |
| | **Collateralized Mortgage Obligations — 30.5%** | **Collateralized Mortgage Obligations — 30.5%** | **Collateralized Mortgage Obligations — 30.5%** | |
|  | Federal Home Loan Mortgage Corporation |  |  |  |
| $263 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 1993-1498, Class I, 1 Mo. LIBOR + 1.15% (a) | 5.61% | 04/15/23 | $263 |
| 697 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 1993-1552, Class I, 10 Yr. Constant Maturity Treasury Rate - 0.65% (a) | 2.86% | 08/15/23 | 695 |
| 6713 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 1993-1579, Class PM | 6.70% | 09/15/23 | 6706 |
| 10132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 1993-1630, Class PK | 6.00% | 11/15/23 | 10132 |
| 168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 1993-1643, Class PK | 6.50% | 12/15/23 | 167 |
| 26490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 1994-1710, Class G, 1 Mo. LIBOR + 1.50% (a) | 5.96% | 04/15/24 | 26622 |
| 916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 1998-2089, Class PJ, IO | 7.00% | 10/15/28 | 74 |
| 3472 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 1998-2102, Class Z | 6.00% | 12/15/28 | 3546 |
| 6728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2002-2405, Class BF | 7.00% | 03/25/24 | 6714 |
| 150747 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2002-2410, Class OG | 6.38% | 02/15/32 | 159373 |
| 81768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2002-2427, Class GE | 6.00% | 03/15/32 | 85430 |
| 116740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2002-2437, Class SA, IO, 1 Mo. LIBOR × -1 + 7.90% (b) | 3.44% | 01/15/29 | 6006 |
| 156137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2003-2557, Class HL | 5.30% | 01/15/33 | 159436 |
| 94870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2003-2564, Class AC | 5.50% | 02/15/33 | 96606 |
| 236132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2003-2574, Class PE | 5.50% | 02/15/33 | 243292 |
| 101354 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2003-2577, Class LI, IO | 5.50% | 02/15/33 | 12884 |
| 822000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2003-2581, Class LL | 5.25% | 03/15/33 | 845621 |
| 1331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2003-2586, Class TG | 5.50% | 03/15/23 | 1327 |
| 23701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2003-2597, Class AE | 5.50% | 04/15/33 | 23818 |
| 1113000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2003-2613, Class LL | 5.00% | 05/15/33 | 1123423 |
| 265682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2003-2626, Class ZW | 5.00% | 06/15/33 | 234821 |
| 579188 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2003-2626, Class ZX | 5.00% | 06/15/33 | 539474 |
| 375306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2004-2771, Class NL | 6.00% | 03/15/34 | 387197 |
| 274225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2004-2793, Class PE | 5.00% | 05/15/34 | 278770 |
| 753056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2004-2801, Class SE, IO, 1 Mo. LIBOR × -1 + 7.05% (b) | 2.59% | 07/15/32 | 46987 |
| 114978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2004-2835, Class QY, IO, 1 Mo. LIBOR × -1 + 7.90% (b) | 3.44% | 12/15/32 | 9957 |
| 649345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2004-2891, Class ZA | 6.50% | 11/15/34 | 741847 |
| 352667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2004-2907, Class DZ | 4.00% | 12/15/34 | 341345 |
| 989957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-233, Class 12, IO, STRIPS | 5.00% | 09/15/35 | 132671 |
| 708142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-234, Class IO, IO, STRIPS | 4.50% | 10/01/35 | 96710 |
| 785000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-2973, Class GE | 5.50% | 05/15/35 | 823663 |
| 104427 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-3031, Class BI, IO, 1 Mo. LIBOR × -1 + 6.69% (b) | 2.23% | 08/15/35 | 9801 |
| 2149642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-3054, Class ZW | 6.00% | 10/15/35 | 2188854 |
| 23086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-3074, Class ZH | 5.50% | 11/15/35 | 24701 |
| 218988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-238, Class 8, IO, STRIPS | 5.00% | 04/15/36 | 35301 |
| 184026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-243, Class 11, IO, STRIPS (c) | 7.00% | 08/15/36 | 29800 |
| 71027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-3117, Class ZU | 6.00% | 02/15/36 | 81602 |
| 21514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-3150, Class DZ | 5.50% | 05/15/36 | 22228 |
| 2898530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-3196, Class ZK | 6.50% | 04/15/32 | 3196906 |
| 28224 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2007-3274, Class B | 6.00% | 02/15/37 | 28656 |
| 178988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2007-3322, Class NF, 1 Mo. LIBOR × 2,566.67 - 16,683.33%, 0.00% Floor (a) | 0.00% | 05/15/37 | 159211 |
| 33539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2007-3340, Class PF, 1 Mo. LIBOR + 0.30% (a) | 4.76% | 07/15/37 | 33026 |
| 68291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2007-3360, Class CB | 5.50% | 08/15/37 | 69616 |
| 65669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2007-3380, Class FS, 1 Mo. LIBOR + 0.35% (a) | 4.81% | 11/15/36 | 63329 |
| 153742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2008-3406, Class B | 6.00% | 01/15/38 | 155883 |
| 96779 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2008-3413, Class B | 5.50% | 04/15/37 | 97433 |
| 170767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2008-3420, Class AZ | 5.50% | 02/15/38 | 174280 |
| 154622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2008-3448, Class SA, IO, 1 Mo. LIBOR × -1 + 6.05% (b) | 1.59% | 05/15/38 | 865 |

---

---

| |
|:---|
| **First Trust Low Duration Opportunities ETF (LMBS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **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)** |  |  |  |
|  | Federal Home Loan Mortgage Corporation (Continued) |  |  |  |
| $26858 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-3523, Class SD, 1 Mo. LIBOR × -2.75 + 19.66% (b) | 7.40% | 06/15/36 | $25771 |
| 1282954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-3542, Class ZP | 5.00% | 06/15/39 | 1302614 |
| 177000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-3550, Class LL | 4.50% | 07/15/39 | 179744 |
| 781257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-3563, Class ZP | 5.00% | 08/15/39 | 805440 |
| 1290037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-3572, Class JS, IO, 1 Mo. LIBOR × -1 + 6.80% (b) | 2.34% | 09/15/39 | 76539 |
| 34861 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-3585, Class QZ | 5.00% | 08/15/39 | 31975 |
| 110745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-3587, Class FX, 1 Mo. LIBOR + 0.00% (a) | 4.46% | 12/15/37 | 101751 |
| 394066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-3593, Class F, 1 Mo. LIBOR + 0.50% (a) | 3.79% | 03/15/36 | 387878 |
| 1110282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-3605, Class NC | 5.50% | 06/15/37 | 1132476 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2010-3622, Class PB | 5.00% | 01/15/40 | 510558 |
| 107000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2010-3645, Class WD | 4.50% | 02/15/40 | 108626 |
| 507491 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2010-3667, Class PL | 5.00% | 05/15/40 | 498996 |
| 54050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2010-3699, Class FD, 1 Mo. LIBOR + 0.60% (a) | 5.06% | 07/15/40 | 53884 |
| 382178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2010-3704, Class ED | 4.00% | 12/15/36 | 377046 |
| 400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2010-3714, Class PB | 4.75% | 08/15/40 | 413489 |
| 288552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2010-3735, Class IK, IO | 3.50% | 10/15/25 | 8311 |
| 63217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2010-3735, Class JI, IO | 4.50% | 10/15/30 | 6031 |
| 195665 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2010-3740, Class SC, IO, 1 Mo. LIBOR × -1 + 6.00% (b) | 1.54% | 10/15/40 | 21282 |
| 154863 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2010-3770, Class GZ | 4.50% | 10/15/40 | 145556 |
| 9027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2011-3795, Class ED | 3.00% | 10/15/39 | 8967 |
| 600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2011-3796, Class PB | 5.00% | 01/15/41 | 607762 |
| 180945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2011-3819, Class ZQ | 6.00% | 04/15/36 | 190936 |
| 300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2011-3820, Class NC | 4.50% | 03/15/41 | 303057 |
| 103547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2011-3842, Class BS, 1 Mo. LIBOR × -5 + 22.75% (b) | 0.91% | 04/15/41 | 99811 |
| 1387000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2011-3895, Class PW | 4.50% | 07/15/41 | 1406814 |
| 1899603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2011-3925, Class ZD | 4.50% | 09/15/41 | 1889637 |
| 8608443 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2011-3954, Class GS, IO, 1 Mo. LIBOR × -1 + 6.00% (b) | 1.54% | 11/15/41 | 922084 |
| 320937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-267, Class S5, IO, STRIPS, 1 Mo. LIBOR × -1 + 6.00% (b) | 1.54% | 08/15/42 | 26006 |
| 6622200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-276, Class S5, IO, STRIPS, 1 Mo. LIBOR × -1 + 6.00% (b) | 1.54% | 09/15/42 | 655020 |
| 385722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-3999, Class WA (c) | 5.55% | 08/15/40 | 394049 |
| 1878000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-4000, Class PY | 4.50% | 02/15/42 | 1735141 |
| 32297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-4012, Class GC | 3.50% | 06/15/40 | 31615 |
| 23726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-4015, Class KB | 1.75% | 05/15/41 | 21727 |
| 255501 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-4021, Class IP, IO | 3.00% | 03/15/27 | 10128 |
| 1163845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-4026, Class GZ | 4.50% | 04/15/42 | 1143782 |
| 427026 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-4030, Class IL, IO | 3.50% | 04/15/27 | 17554 |
| 822879 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-4054, Class AI, IO | 3.00% | 04/15/27 | 29209 |
| 679211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-4090, Class YZ | 4.50% | 08/15/42 | 637067 |
| 24732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-4097, Class ES, IO, 1 Mo. LIBOR × -1 + 6.10% (b) | 1.64% | 08/15/42 | 2809 |
| 2463553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-4097, Class SA, IO, 1 Mo. LIBOR × -1 + 6.05% (b) | 1.59% | 08/15/42 | 285502 |
| 2447000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-4098, Class PE | 4.00% | 08/15/42 | 2218687 |
| 232950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-4103, Class HI, IO | 3.00% | 09/15/27 | 10548 |
| 29571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-4116, Class AS, IO, 1 Mo. LIBOR × -1 + 6.15% (b) | 1.69% | 10/15/42 | 3563 |
| 868508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-4121, Class HI, IO | 3.50% | 10/15/27 | 40554 |
| 1172170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-4132, Class AI, IO | 4.00% | 10/15/42 | 192736 |

---

---

| |
|:---|
| **First Trust Low Duration Opportunities ETF (LMBS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **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)** |  |  |  |
|  | Federal Home Loan Mortgage Corporation (Continued) |  |  |  |
| $287825 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-4136, Class TU, IO, 1 Mo. LIBOR × -22.50 + 139.50%, 4.50% Cap (b) | 4.50% | 08/15/42 | $47810 |
| 296176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-4145, Class YI, IO | 3.00% | 12/15/27 | 13680 |
| 260741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-303, Class C2, IO, STRIPS | 3.50% | 01/15/28 | 13055 |
| 218356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-299, Class S1, IO, STRIPS, 1 Mo. LIBOR × -1 + 6.00% (b) | 1.54% | 01/15/43 | 25792 |
| 5159167 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-303, Class C12, IO, STRIPS | 4.00% | 12/15/32 | 518047 |
| 3034231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-304, Class C19, IO, STRIPS | 5.00% | 06/15/42 | 695973 |
| 184669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-304, Class C37, IO, STRIPS | 3.50% | 12/15/27 | 7530 |
| 795446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-304, Class C40, IO, STRIPS | 3.50% | 09/15/26 | 28915 |
| 829997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-4151, Class DI, IO | 3.50% | 11/15/31 | 29593 |
| 2357842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-4154, Class IB, IO | 3.50% | 01/15/28 | 113958 |
| 7577377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-4170, Class CO, PO | (d) | 11/15/32 | 6350654 |
| 905000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-4176, Class HE | 4.00% | 03/15/43 | 861600 |
| 732650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-4177, Class GL | 3.00% | 03/15/33 | 684171 |
| 2970012 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-4193, Class AI, IO | 3.00% | 04/15/28 | 154527 |
| 826035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-4193, Class PB | 4.00% | 04/15/43 | 776155 |
| 14019174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-4199, Class BZ | 3.50% | 05/15/43 | 12953009 |
| 1205693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-4203, Class US, 1 Mo. LIBOR × -1.50 + 6.00% (b) | 0.00% | 05/15/33 | 865352 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-4211, Class PB | 3.00% | 05/15/43 | 439707 |
| 14058279 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-4218, Class ZK | 2.50% | 02/15/43 | 11326031 |
| 5388000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-4224, Class ME | 4.00% | 07/15/43 | 5184804 |
| 11838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-4226, Class NS, 1 Mo. LIBOR × -3 + 10.50% (b) | 0.00% | 01/15/43 | 8531 |
| 1450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-4247, Class AY | 4.50% | 09/15/43 | 1468807 |
| 213690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-4265, Class IB, IO | 4.50% | 12/15/24 | 4895 |
| 9353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-4300, Class IM, IO (e) | 3.00% | 03/15/37 | 40 |
| 698693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-4314, Class CI, IO | 6.00% | 03/15/44 | 150104 |
| 2579934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-4316, Class XZ | 4.50% | 03/15/44 | 2552511 |
| 8899673 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-4329, Class VZ | 4.00% | 04/15/44 | 8609359 |
| 3655830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-4347, Class YT | 3.50% | 06/15/44 | 3488707 |
| 2539676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-4387, Class IE, IO | 2.50% | 11/15/28 | 103746 |
| 12959001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-4499, Class CZ | 3.50% | 08/15/45 | 11715344 |
| 606932 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-4503, Class MI, IO | 5.00% | 08/15/45 | 104623 |
| 473734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-4512, Class W (c) (f) | 5.38% | 05/15/38 | 480290 |
| 76983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-4520, Class AI, IO | 3.50% | 10/15/35 | 8086 |
| 154253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-4522, Class JZ | 2.00% | 01/15/45 | 150975 |
| 282236 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-4546, Class PZ | 4.00% | 12/15/45 | 240760 |
| 477755 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-4546, Class ZT | 4.00% | 01/15/46 | 406622 |
| 5823149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-4559, Class LI, IO | 2.50% | 03/15/31 | 374457 |
| 146650 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-4568, Class MZ | 4.00% | 04/15/46 | 120482 |
| 10666085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-4570, Class ST, IO, 1 Mo. LIBOR × -1 + 6.00% (b) | 1.54% | 04/15/46 | 1224910 |
| 3963120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-4572, Class LI, IO | 4.00% | 08/15/45 | 613606 |
| 19701401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-4585, Class DS, IO, 1 Mo. LIBOR × -1 + 6.00% (b) | 1.54% | 05/15/46 | 2203612 |
| 7187614 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-4587, Class ZH | 4.00% | 03/15/44 | 6842891 |
| 1199759 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-4591, Class GI, IO | 4.00% | 12/15/44 | 170736 |
| 771702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-4600, Class WT | 3.50% | 07/15/36 | 720978 |
| 136619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-4605, Class KS, 1 Mo. LIBOR × -1.57 + 4.71% (b) | 0.00% | 08/15/43 | 92714 |
| 204846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-4609, Class YI, IO | 4.00% | 04/15/54 | 10648 |
| 822646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-4615, Class GT, 1 Mo. LIBOR × -4 + 16.00%, 4.00% Cap (b) | 0.00% | 10/15/42 | 578263 |
| 1886918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-4641, Class DI, IO | 5.00% | 05/15/41 | 243036 |

---

---

| |
|:---|
| **First Trust Low Duration Opportunities ETF (LMBS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **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)** |  |  |  |
|  | Federal Home Loan Mortgage Corporation (Continued) |  |  |  |
| $11289000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-4650, Class VC | 3.50% | 07/15/37 | $10996556 |
| 10302425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-4660, Class PO, PO | (d) | 01/15/33 | 7174612 |
| 18285252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-4680, Class GZ | 3.50% | 03/15/47 | 16672627 |
| 600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-4681, Class JY | 2.50% | 05/15/47 | 503148 |
| 2845108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-4774, Class SL, IO, 1 Mo. LIBOR × -1 + 6.20% (b) | 1.74% | 04/15/48 | 347485 |
| 2420246 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-4790, Class IO, IO | 4.50% | 05/15/48 | 414206 |
| 4487211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-4826, Class ME | 3.50% | 09/15/48 | 4248335 |
| 2702888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-4833, Class PY | 4.00% | 10/15/48 | 2614935 |
| 3296362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-4872, Class BZ | 4.00% | 04/15/49 | 2983223 |
| 6443013 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-4910, Class SA, IO, 1 Mo. LIBOR × -1 + 6.05% (b) | 1.59% | 06/15/49 | 1084371 |
| 8524339 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-4938, Class BS, IO, 1 Mo. LIBOR × -1 + 6.00% (b) | 1.49% | 12/25/49 | 1018125 |
| 17111404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-4941, Class YZ | 3.00% | 12/25/49 | 15780253 |
| 9175610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-4943, Class NS, IO, 1 Mo. LIBOR × -1 + 6.00% (b) | 1.49% | 01/25/50 | 1849640 |
| 2515155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-4974, Class IA, IO | 3.50% | 12/25/49 | 668499 |
| 7711119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-5013, Class HI, IO | 5.00% | 03/25/40 | 1145803 |
| 14578351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-5034, Class IO, IO (c) | 0.00% | 10/15/45 | 634448 |
| 8815818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-5178, Class HL | 2.00% | 01/25/52 | 6156153 |
| 17921883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-5200, Class TZ | 2.50% | 11/25/49 | 12022051 |
| 11687494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-5208, Class HZ | 3.50% | 03/25/52 | 10192520 |
| 13699672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-5208, Class Z | 3.00% | 04/25/52 | 11133040 |
| 9750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-5210, Class LB | 3.00% | 08/25/50 | 7718492 |
| 12171666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-5220, Class KZ | 4.00% | 02/25/51 | 11248979 |
| 6967681 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-5221, Class VE | 3.50% | 07/25/33 | 6705178 |
| 33673000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-5221, Class YC | 4.00% | 05/25/52 | 31833814 |
| 5000312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-5222, Class BZ | 3.50% | 05/25/37 | 4675132 |
| 8010170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-5222, Class DP | 3.25% | 05/25/52 | 7605552 |
| 18800952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-5223, Class GZ | 3.00% | 08/25/51 | 13841639 |
| 13144866 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-5224, Class DZ | 4.00% | 04/25/52 | 12433582 |
| 10674332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-5225, Class HZ | 4.00% | 08/25/51 | 9669947 |
| 14212545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-5225, Class NZ | 4.00% | 05/25/52 | 12885786 |
| 8292868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-5228, Class DZ | 4.50% | 06/25/52 | 8073017 |
| 9012248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-5232, Class GO, PO | (d) | 08/25/51 | 5496696 |
| 8578541 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-5255, Class KZ | 4.00% | 09/25/52 | 7910350 |
| 7871994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-5270, Class AL | 3.00% | 11/25/48 | 6339877 |
|  | Federal National Mortgage Association |  |  |  |
| 291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 1993-39, Class Z | 7.50% | 04/25/23 | 290 |
| 15 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 1993-46, Class FH, 7 Yr. Constant Maturity Treasury Rate - 0.20% (a) | 3.56% | 04/25/23 | 15 |
| 10737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 1993-169, Class L | 6.50% | 09/25/23 | 10729 |
| 3598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 1993-171, Class SB, 10 Yr. Constant Maturity Treasury Rate × -2.17 + 21.99% (b) | 14.04% | 09/25/23 | 3607 |
| 347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 1993-214, Class 2, IO, STRIPS (e) | 7.50% | 03/25/23 | 1 |
| 19005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 1993-222, Class 2, IO, STRIPS | 7.00% | 06/25/23 | 197 |
| 2698 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 1993-230, Class FA, 1 Mo. LIBOR + 0.60% (a) | 4.99% | 12/25/23 | 2699 |
| 21519 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 1994-61, Class FG, 1 Mo. LIBOR + 1.50% (a) | 5.89% | 04/25/24 | 21604 |
| 17221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 1996-51, Class AY, IO | 7.00% | 12/18/26 | 1216 |
| 9959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 1998-37, Class VZ | 6.00% | 06/17/28 | 9960 |
| 25314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2001-34, Class SR, IO, 1 Mo. LIBOR × -1 + 8.10% (b) | 3.65% | 08/18/31 | 874 |

---

---

| |
|:---|
| **First Trust Low Duration Opportunities ETF (LMBS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **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)** | **Collateralized Mortgage Obligations (Continued)** |
|  | Federal National Mortgage Association (Continued) |  |  |  |
| $1623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2001-42, Class SB, 1 Mo. LIBOR × -16 + 128.00%, 8.50% Cap (b) | 8.50% | 09/25/31 | $1609 |
| 67088 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2001-46, Class F, 1 Mo. LIBOR + 0.40% (a) | 4.85% | 09/18/31 | 67018 |
| 5868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2002-22, Class G | 6.50% | 04/25/32 | 6201 |
| 54066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2002-30, Class Z | 6.00% | 05/25/32 | 56413 |
| 74495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2002-80, Class CZ | 4.50% | 09/25/32 | 72960 |
| 67293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2002-320, Class 2, IO, STRIPS | 7.00% | 04/25/32 | 13402 |
| 59160 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2002-323, Class 6, IO, STRIPS | 6.00% | 01/25/32 | 8329 |
| 163062 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2002-324, Class 2, IO, STRIPS | 6.50% | 07/25/32 | 22776 |
| 13740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2003-14, Class AT | 4.00% | 03/25/33 | 13423 |
| 39697 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2003-21, Class OA | 4.00% | 03/25/33 | 38978 |
| 69170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2003-32, Class UI, IO | 6.00% | 05/25/33 | 11794 |
| 303800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2003-45, Class JB | 5.50% | 06/25/33 | 312692 |
| 12015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2003-63, Class F1, 1 Mo. LIBOR + 0.30% (a) | 4.81% | 11/25/27 | 11964 |
| 355000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2003-71, Class NH | 4.29% | 08/25/33 | 352423 |
| 140694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2003-109, Class YB | 6.00% | 11/25/33 | 145257 |
| 187867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2003-343, Class 2, IO, STRIPS | 4.50% | 10/25/33 | 23520 |
| 184322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2003-345, Class 14, IO, STRIPS | 6.00% | 03/25/34 | 28846 |
| 38802 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2003-348, Class 17, IO, STRIPS | 7.50% | 12/25/33 | 5758 |
| 55178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2003-348, Class 18, IO, STRIPS (c) | 7.50% | 12/25/33 | 9007 |
| 170986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2004-10, Class ZB | 6.00% | 02/25/34 | 177181 |
| 525001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2004-18, Class EZ | 6.00% | 04/25/34 | 552813 |
| 206947 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2004-25, Class LC | 5.50% | 04/25/34 | 214381 |
| 225727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2004-25, Class UC | 5.50% | 04/25/34 | 233306 |
| 44767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2004-28, Class ZH | 5.50% | 05/25/34 | 46200 |
| 610039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2004-60, Class AC | 5.50% | 04/25/34 | 609901 |
| 1415831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-2, Class S, IO, 1 Mo. LIBOR × -1 + 6.60% (b) | 2.09% | 02/25/35 | 104755 |
| 269946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-2, Class TB, IO, 1 Mo. LIBOR × -1 + 5.90%, 0.40% Cap (b) | 0.40% | 07/25/33 | 2343 |
| 60866 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-29, Class ZT | 5.00% | 04/25/35 | 60791 |
| 65043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-40, Class SA, IO, 1 Mo. LIBOR × -1 + 6.70% (b) | 2.19% | 05/25/35 | 4948 |
| 314317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-52, Class TZ | 6.50% | 06/25/35 | 360424 |
| 1133743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-57, Class KZ | 6.00% | 07/25/35 | 1206868 |
| 8124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-67, Class SC, 1 Mo. LIBOR × -2.15 + 14.41% (b) | 4.72% | 08/25/35 | 7892 |
| 34536 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-79, Class NS, IO, 1 Mo. LIBOR × -1 + 6.09% (b) | 1.58% | 09/25/35 | 2407 |
| 3511997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-86, Class WZ | 5.50% | 10/25/35 | 3570608 |
| 12175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-87, Class SC, 1 Mo. LIBOR × -1.67 + 13.83% (b) | 6.32% | 10/25/35 | 12796 |
| 58965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-95, Class WZ | 6.00% | 11/25/35 | 67273 |
| 18817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-102, Class DS, 1 Mo. LIBOR × -2.75 + 19.80% (b) | 7.41% | 11/25/35 | 17073 |
| 95691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-359, Class 6, IO, STRIPS | 5.00% | 11/25/35 | 14342 |
| 295322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-359, Class 12, IO, STRIPS | 5.50% | 10/25/35 | 55744 |
| 83043 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-362, Class 13, IO, STRIPS | 6.00% | 08/25/35 | 14604 |
| 40183 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-5, Class 2A2 (a) | 3.53% | 02/25/35 | 39607 |
| 18142253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-5, Class N2, IO (f) | 0.00% | 02/25/35 | 11339 |
| 41446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-15, Class IS, IO, 1 Mo. LIBOR × -1 + 6.58% (b) | 2.07% | 03/25/36 | 4433 |
| 724641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-20, Class PI, IO, 1 Mo. LIBOR × -1 + 6.68% (b) | 2.17% | 11/25/30 | 16901 |
| 27250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-31, Class PZ | 6.00% | 05/25/36 | 30737 |
| 36520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-42, Class CF, 1 Mo. LIBOR + 0.45% (a) | 4.96% | 06/25/36 | 36278 |
| 1134415 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-42, Class EI, IO, 1 Mo. LIBOR × -1 + 6.55% (b) | 2.04% | 06/25/36 | 114495 |
| 300994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-59, Class SL, IO, 1 Mo. LIBOR × -1 + 6.57% (b) | 2.06% | 07/25/36 | 29617 |
| 410618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-80, Class PH | 6.00% | 08/25/36 | 434555 |
| 38610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-85, Class MZ | 6.50% | 09/25/36 | 40957 |

---

---

| |
|:---|
| **First Trust Low Duration Opportunities ETF (LMBS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **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)** |  |  |  |
|  | Federal National Mortgage Association (Continued) |  |  |  |
| $1426611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-110, Class PI, IO | 5.50% | 11/25/36 | $282809 |
| 172880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-117, Class GF, 1 Mo. LIBOR + 0.35% (a) | 4.86% | 12/25/36 | 170479 |
| 1514456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-118, Class A1, 1 Mo. LIBOR + 0.06% (a) | 4.44% | 12/25/36 | 1506130 |
| 313274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2007-7, Class KA | 5.75% | 08/25/36 | 328034 |
| 20058 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2007-25, Class FB, 1 Mo. LIBOR + 0.33% (a) | 4.84% | 04/25/37 | 19651 |
| 531058 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2007-28, Class ZA | 6.00% | 04/25/37 | 545447 |
| 875666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2007-57, Class ZG | 4.75% | 06/25/37 | 878039 |
| 569338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2007-60, Class ZS | 4.75% | 07/25/37 | 583568 |
| 505051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2007-68, Class AE | 6.50% | 07/25/37 | 538022 |
| 284610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2007-116, Class PB | 5.50% | 08/25/35 | 294091 |
| 65890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2007-117, Class MD | 5.50% | 07/25/37 | 64946 |
| 2705639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2007-W10, Class 3A (f) | 2.73% | 06/25/47 | 2701291 |
| 124035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2008-3, Class FZ, 1 Mo. LIBOR + 0.55% (a) | 5.06% | 02/25/38 | 116774 |
| 21137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2008-8, Class ZA | 5.00% | 02/25/38 | 21146 |
| 7694 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2008-17, Class IP, IO | 6.50% | 02/25/38 | 579 |
| 610197 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2008-389, Class 4, IO, STRIPS | 6.00% | 03/25/38 | 106279 |
| 838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-10, Class AB | 5.00% | 03/25/24 | 834 |
| 576247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-11, Class PI, IO | 5.50% | 03/25/36 | 94578 |
| 255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-14, Class BS, IO, 1 Mo. LIBOR × -1 + 6.25% (b) (e) | 1.74% | 03/25/24 | 1 |
| 1419344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-37, Class NZ | 5.71% | 02/25/37 | 1487868 |
| 4400000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-50, Class GX | 5.00% | 07/25/39 | 4549347 |
| 2621161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-85, Class J | 4.50% | 10/25/39 | 2632241 |
| 175982 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-91, Class HL | 5.00% | 11/25/39 | 179829 |
| 97000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-92, Class DB | 5.00% | 11/25/39 | 100709 |
| 837843 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-103, Class PZ | 6.00% | 12/25/39 | 946160 |
| 168813 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-106, Class SN, IO, 1 Mo. LIBOR × -1 + 6.25% (b) | 1.74% | 01/25/40 | 12983 |
| 281546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-109, Class PZ | 4.50% | 01/25/40 | 272920 |
| 49798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-115, Class HZ | 5.00% | 01/25/40 | 51283 |
| 65974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-398, Class C13, IO, STRIPS | 4.00% | 06/25/24 | 1032 |
| 202612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2010-3, Class DZ | 4.50% | 02/25/40 | 196189 |
| 130470 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2010-21, Class KO, PO | (d) | 03/25/40 | 111427 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2010-35, Class EP | 5.50% | 04/25/40 | 523082 |
| 294144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2010-38, Class KC | 4.50% | 04/25/40 | 294860 |
| 298980 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2010-45, Class WB | 5.00% | 05/25/40 | 299097 |
| 351435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2010-68, Class BI, IO | 5.50% | 07/25/50 | 63559 |
| 31757 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2010-75, Class MT (f) | 1.54% | 12/25/39 | 30171 |
| 28247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2010-110, Class KI, IO | 5.50% | 10/25/25 | 268 |
| 81040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2010-115, Class PO, PO | (d) | 04/25/40 | 69703 |
| 220944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2010-129, Class SM, IO, 1 Mo. LIBOR × -1 + 6.00% (b) | 1.49% | 11/25/40 | 6031 |
| 2821000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2010-142, Class DL | 4.00% | 12/25/40 | 2752490 |
| 154405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2011-9, Class AZ | 5.00% | 05/25/40 | 151890 |
| 1507000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2011-10, Class AY | 6.00% | 02/25/41 | 1678402 |
| 95851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2011-30, Class LS, IO (c) | 0.00% | 04/25/41 | 4706 |
| 135358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2011-30, Class ZB | 5.00% | 04/25/41 | 137761 |
| 308765 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2011-52, Class GB | 5.00% | 06/25/41 | 315381 |
| 930500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2011-73, Class PI, IO | 4.50% | 05/25/41 | 46104 |
| 190602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2011-74, Class TQ, IO, 1 Mo. LIBOR × -6.43 + 55.93%, 4.50% Cap (b) | 4.50% | 12/25/33 | 22503 |
| 1144349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2011-87, Class YI, IO | 5.00% | 09/25/41 | 206452 |
| 1560836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2011-101, Class EI, IO | 3.50% | 10/25/26 | 45826 |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2011-105, Class MB | 4.00% | 10/25/41 | 697177 |

---

---

| |
|:---|
| **First Trust Low Duration Opportunities ETF (LMBS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **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)** |  |  |  |
|  | Federal National Mortgage Association (Continued) |  |  |  |
| $1816606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2011-111, Class PZ | 4.50% | 11/25/41 | $1827687 |
| 4039378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2011-123, Class JS, IO, 1 Mo. LIBOR × -1 + 6.65% (b) | 2.14% | 03/25/41 | 209098 |
| 1185581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-28, Class PT | 4.00% | 03/25/42 | 1135288 |
| 776952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-39, Class PB | 4.25% | 04/25/42 | 774358 |
| 354852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-52, Class BZ | 4.00% | 05/25/42 | 313482 |
| 511547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-65, Class IO, IO | 5.50% | 07/25/40 | 85576 |
| 105571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-66, Class DI, IO | 3.50% | 06/25/27 | 4729 |
| 2366498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-101, Class AI, IO | 3.00% | 06/25/27 | 67024 |
| 2597480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-103, Class HI, IO | 3.00% | 09/25/27 | 102599 |
| 217493 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-111, Class B | 7.00% | 10/25/42 | 233052 |
| 138417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-118, Class IB, IO | 3.50% | 11/25/42 | 21984 |
| 7122135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-122, Class SD, IO, 1 Mo. LIBOR × -1 + 6.10% (b) | 1.59% | 11/25/42 | 766065 |
| 435138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-133, Class KO, PO | (d) | 12/25/42 | 220873 |
| 496314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-138, Class MA | 1.00% | 12/25/42 | 422263 |
| 1116761 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-146, Class QA | 1.00% | 01/25/43 | 952670 |
| 278962 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-409, Class 49, IO, STRIPS (c) | 3.50% | 11/25/41 | 42517 |
| 308784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-409, Class 53, IO, STRIPS (c) | 3.50% | 04/25/42 | 46978 |
| 690000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-10, Class HQ | 2.50% | 02/25/43 | 507185 |
| 322657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-13, Class IK, IO | 2.50% | 03/25/28 | 14257 |
| 6296107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-19, Class ZD | 3.50% | 03/25/43 | 5718376 |
| 51147 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-23, Class ZB | 3.00% | 03/25/43 | 38997 |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-41, Class DB | 3.00% | 05/25/43 | 628490 |
| 1084020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-43, Class IX, IO | 4.00% | 05/25/43 | 220717 |
| 344923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-51, Class PI, IO | 3.00% | 11/25/32 | 31382 |
| 338830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-52, Class MD | 1.25% | 06/25/43 | 287499 |
| 5442815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-54, Class LI, IO | 7.00% | 11/25/34 | 923357 |
| 535562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-55, Class AI, IO | 3.00% | 06/25/33 | 55472 |
| 3216680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-67, Class IL, IO | 6.50% | 07/25/43 | 547139 |
| 133261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-70, Class JZ | 3.00% | 07/25/43 | 120334 |
| 88022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-75, Class FC, 1 Mo. LIBOR + 0.25% (a) | 4.76% | 07/25/42 | 87441 |
| 11829070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-75, Class ZG | 3.25% | 07/25/43 | 10037771 |
| 379979 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-105, Class BN | 4.00% | 05/25/43 | 353750 |
| 180943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-105, Class KO, PO | (d) | 10/25/43 | 160446 |
| 195852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-106, Class KN | 3.00% | 10/25/43 | 162072 |
| 19427240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-115, Class Z | 3.00% | 11/25/33 | 18330834 |
| 46709596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-119, Class VZ | 3.00% | 10/25/33 | 44077800 |
| 37190480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-119, Class ZB | 3.00% | 12/25/33 | 34882461 |
| 1003000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-130, Class QY | 4.50% | 06/25/41 | 1002058 |
| 1658560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-417, Class C21, IO, STRIPS | 4.00% | 12/25/42 | 253969 |
| 3814163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-418, Class C1, IO, STRIPS | 3.50% | 08/25/43 | 547030 |
| 53701 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-29, Class GI, IO | 3.00% | 05/25/29 | 2562 |
| 1674117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-44, Class NI, IO | 4.50% | 08/25/29 | 46418 |
| 12754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-46, Class KA (c) | 86.31% | 08/25/44 | 92003 |
| 90395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-68, Class GI, IO | 4.50% | 10/25/43 | 7882 |
| 608049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-82, Class GZ | 4.00% | 12/25/44 | 533656 |
| 505935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-84, Class LI, IO | 3.50% | 12/25/26 | 15528 |
| 875000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-16, Class MY | 3.50% | 04/25/45 | 783785 |
| 8657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-38, Class GI, IO | 3.00% | 09/25/43 | 42 |
| 9189399 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-40, Class AI, IO | 6.00% | 05/25/37 | 1678797 |
| 335546 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-76, Class BI, IO | 4.00% | 10/25/39 | 12582 |
| 41351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-93, Class KI, IO | 3.00% | 09/25/44 | 1849 |
| 151793 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-97, Class AI, IO (e) | 4.00% | 09/25/41 | 427 |

---

---

| |
|:---|
| **First Trust Low Duration Opportunities ETF (LMBS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **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)** |  |  |  |
|  | Federal National Mortgage Association (Continued) |  |  |  |
| $4878138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-2, Class EZ | 2.50% | 02/25/46 | $4377615 |
| 8774460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-37, Class PY | 3.00% | 06/25/46 | 7355519 |
| 16712674 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-40, Class MS, IO, 1 Mo. LIBOR × -1 + 6.00% (b) | 1.49% | 07/25/46 | 2365487 |
| 11510000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-50, Class GY | 3.00% | 08/25/46 | 9433911 |
| 6933131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-62, Class SB, IO, 1 Mo. LIBOR × -1 + 6.10% (b) | 1.59% | 09/25/46 | 490789 |
| 838191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-71, Class NI, IO | 3.50% | 04/25/46 | 96547 |
| 2910951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-73, Class PI, IO | 3.00% | 08/25/46 | 509548 |
| 365219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-74, Class HI, IO | 3.50% | 10/25/46 | 60910 |
| 288225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-84, Class DF, 1 Mo. LIBOR + 0.42% (a) | 3.55% | 11/25/46 | 283123 |
| 7683642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-18, Class AS, IO, 1 Mo. LIBOR × -1 + 6.05% (b) | 1.54% | 03/25/47 | 1116908 |
| 597364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-46, Class BY | 3.00% | 06/25/47 | 478004 |
| 12354610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-50, Class BZ | 3.00% | 07/25/47 | 10545657 |
| 5447535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-65, Class SA, IO, 1 Mo. LIBOR × -1 + 5.90%, 5.00% Cap (b) | 1.39% | 09/25/47 | 573964 |
| 4096653 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-84, Class ZK | 3.50% | 10/25/57 | 3601303 |
| 3275749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-87, Class GI, IO | 4.00% | 06/25/44 | 508650 |
| 2185804 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-87, Class ZA | 4.00% | 11/25/57 | 1935368 |
| 2620939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-17, Class Z | 3.50% | 03/25/48 | 2219718 |
| 4618795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-86, Class DL | 3.50% | 12/25/48 | 4423376 |
| 2694487 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-92, Class DB | 3.50% | 01/25/49 | 2575275 |
| 6224387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-94, Class AZ | 4.00% | 01/25/49 | 6007399 |
| 7567607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-8, Class DY | 3.50% | 03/25/49 | 7229252 |
| 8382554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-17, Class GZ | 4.00% | 11/25/56 | 7728326 |
| 10149963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-26, Class GA | 3.50% | 06/25/49 | 9764175 |
| 4168094 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-27, Class HA | 3.00% | 06/25/49 | 3905096 |
| 6708371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-29, Class HT | 3.00% | 06/25/49 | 6155417 |
| 6005702 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-34, Class JA | 3.00% | 07/25/49 | 5494030 |
| 13686065 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-34, Class LA | 3.00% | 07/25/49 | 12692832 |
| 3746066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-37, Class A | 3.00% | 07/25/49 | 3428919 |
| 13198239 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-41, Class SN, IO, 1 Mo. LIBOR × -1 + 6.05% (b) | 1.54% | 08/25/49 | 1444479 |
| 10002328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-57, Class JA | 2.50% | 10/25/49 | 9025271 |
| 4074784 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-59, Class PT | 2.50% | 10/25/49 | 3658826 |
| 9615264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-66, Class C | 3.00% | 11/25/49 | 8979269 |
| 37578952 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-68, Class KP | 2.50% | 11/25/49 | 32368698 |
| 21924143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-70, Class WA, PO | (d) | 11/25/42 | 18334716 |
| 12882362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-9, Class SJ, IO, 1 Mo. LIBOR × -1 + 6.00% (b) | 1.49% | 02/25/50 | 2094417 |
| 11969763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-20, Class KI, IO | 4.00% | 03/25/50 | 3976677 |
| 14338184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-93, Class NI, IO | 3.00% | 01/25/51 | 1469090 |
| 10252831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-15, Class ZH | 3.00% | 04/25/52 | 7427169 |
| 8365520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-18, Class Z | 3.50% | 04/25/52 | 6936143 |
| 16821760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-23, Class EZ | 3.00% | 03/25/52 | 12199081 |
| 26543567 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-29, Class JZ | 1.50% | 06/25/42 | 18955895 |
|  | Federal National Mortgage Association Grantor Trust |  |  |  |
| 1870171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-T1, Class A1, 1 Mo. LIBOR + 0.40% (a) | 4.91% | 05/25/35 | 1824045 |
|  | Government National Mortgage Association |  |  |  |
| 18483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2001-60, Class PZ | 6.00% | 12/20/31 | 18432 |
| 199590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2002-72, Class ZB | 6.00% | 10/20/32 | 197969 |
| 152263 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2003-4, Class MZ | 5.50% | 01/20/33 | 151900 |
| 270135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2003-18, Class PG | 5.50% | 03/20/33 | 269224 |
| 1552341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2003-35, Class TZ | 5.75% | 04/16/33 | 1548375 |
| 131198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2003-62, Class MZ | 5.50% | 07/20/33 | 134629 |
| 166904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2003-84, Class Z | 5.50% | 10/20/33 | 169357 |

---

---

| |
|:---|
| **First Trust Low Duration Opportunities ETF (LMBS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **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)** |  |  |  |
|  | Government National Mortgage Association (Continued) |  |  |  |
| $93937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2004-37, Class B | 6.00% | 04/17/34 | $96886 |
| 533119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2004-49, Class MZ | 6.00% | 06/20/34 | 549477 |
| 37682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2004-68, Class ZC | 6.00% | 08/20/34 | 38808 |
| 44705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2004-71, Class ST, 1 Mo. LIBOR × -6.25 + 44.50%, 7.00% Cap (b) | 7.00% | 09/20/34 | 45266 |
| 79984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2004-83, Class AK, 1 Mo. LIBOR × -3 + 16.49% (b) | 3.12% | 10/16/34 | 70940 |
| 311559 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2004-88, Class SM, IO, 1 Mo. LIBOR × -1 + 6.10% (b) | 1.64% | 10/16/34 | 11775 |
| 33225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2004-92, Class AK, 1 Mo. LIBOR × -3 + 16.50% (b) | 3.12% | 11/16/34 | 30337 |
| 1260294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2004-92, Class BZ | 5.50% | 11/16/34 | 1290731 |
| 246524 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2004-105, Class JZ | 5.00% | 12/20/34 | 244115 |
| 211544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2004-105, Class KA | 5.00% | 12/16/34 | 209968 |
| 245501 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-3, Class JZ | 5.00% | 01/16/35 | 233680 |
| 245501 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-3, Class KZ | 5.00% | 01/16/35 | 240012 |
| 16333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-7, Class AJ, 1 Mo. LIBOR × -4 + 22.00% (b) | 4.16% | 02/16/35 | 15447 |
| 103233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-7, Class MA, 1 Mo. LIBOR × -2.81 + 18.95% (b) | 6.43% | 12/17/34 | 98268 |
| 119577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-33, Class AY | 5.50% | 04/16/35 | 121729 |
| 105100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-41, Class PA | 4.00% | 05/20/35 | 103875 |
| 241960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-44, Class IO, IO | 5.50% | 07/20/35 | 19190 |
| 2087852 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-78, Class ZA | 5.00% | 10/16/35 | 2111009 |
| 183903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-93, Class PO, PO | (d) | 06/20/35 | 165548 |
| 362840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-17, Class TW | 6.00% | 04/20/36 | 372939 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-38, Class OH | 6.50% | 08/20/36 | 510635 |
| 197155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-61, Class ZA | 5.00% | 11/20/36 | 195678 |
| 467561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2007-16, Class OZ | 6.00% | 04/20/37 | 488190 |
| 117568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2007-27, Class SD, IO, 1 Mo. LIBOR × -1 + 6.20% (b) | 1.71% | 05/20/37 | 4167 |
| 94842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2007-41, Class OL, PO | (d) | 07/20/37 | 85019 |
| 168884 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2007-42, Class SB, IO, 1 Mo. LIBOR × -1 + 6.75% (b) | 2.26% | 07/20/37 | 9791 |
| 515076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2007-71, Class ZD | 6.00% | 11/20/37 | 521997 |
| 153609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2007-81, Class FZ, 1 Mo. LIBOR + 0.35% (a) | 4.84% | 12/20/37 | 153126 |
| 78048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2008-33, Class XS, IO, 1 Mo. LIBOR × -1 + 7.70% (b) | 3.24% | 04/16/38 | 4948 |
| 472532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2008-47, Class ML | 5.25% | 06/16/38 | 481542 |
| 137629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2008-54, Class PE | 5.00% | 06/20/38 | 139745 |
| 373739 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2008-71, Class JI, IO | 6.00% | 04/20/38 | 25037 |
| 651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-10, Class PA | 4.50% | 12/20/38 | 649 |
| 102373 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-14, Class KI, IO | 6.50% | 03/20/39 | 12837 |
| 33591 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-14, Class KS, IO, 1 Mo. LIBOR × -1 + 6.30% (b) | 1.81% | 03/20/39 | 1020 |
| 78297 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-25, Class SE, IO, 1 Mo. LIBOR × -1 + 7.60% (b) | 3.11% | 09/20/38 | 3849 |
| 2692721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-29, Class PC | 7.00% | 05/20/39 | 2892482 |
| 423742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-32, Class SZ | 5.50% | 05/16/39 | 441360 |
| 261177 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-42, Class BI, IO | 6.00% | 06/20/39 | 28994 |
| 3732446 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-57, Class VB | 5.00% | 06/16/39 | 3767659 |
| 288718 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-61, Class PZ | 7.50% | 08/20/39 | 328339 |
| 8418599 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-61, Class WQ, IO, 1 Mo. LIBOR × -1 + 6.25% (b) | 1.79% | 11/16/35 | 655567 |
| 1001561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-69, Class ZB | 6.00% | 08/20/39 | 1002373 |
| 644901 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-72, Class SM, IO, 1 Mo. LIBOR × -1 + 6.25% (b) | 1.79% | 08/16/39 | 42265 |
| 455000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-75, Class JN | 5.50% | 09/16/39 | 472749 |
| 636028 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-78, Class KZ | 5.50% | 09/16/39 | 676140 |
| 97458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-79, Class OK, PO | (d) | 11/16/37 | 83209 |
| 149653 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-81, Class TZ | 5.50% | 09/20/39 | 156887 |
| 569647 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-87, Class EI, IO | 5.50% | 08/20/39 | 51882 |
| 69000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-94, Class AL | 5.00% | 10/20/39 | 70383 |
| 302761 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-106, Class DZ | 5.50% | 11/20/39 | 319023 |

---

---

| |
|:---|
| **First Trust Low Duration Opportunities ETF (LMBS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **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)** |  |  |  |
|  | Government National Mortgage Association (Continued) |  |  |  |
| $3595668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-106, Class SL, IO, 1 Mo. LIBOR × -1 + 6.10% (b) | 1.61% | 04/20/36 | $161181 |
| 51490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-106, Class WZ | 5.50% | 11/16/39 | 54327 |
| 732000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2009-126, Class LB | 5.00% | 12/20/39 | 752613 |
| 21128 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2010-4, Class WA | 3.00% | 01/16/40 | 20379 |
| 910319 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2010-14, Class BV, IO, 1 Mo. LIBOR × -1 + 6.25% (b) | 1.79% | 02/16/40 | 36783 |
| 50927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2010-42, Class CO, PO | (d) | 06/16/39 | 50020 |
| 954670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2010-59, Class ZD | 6.50% | 05/20/40 | 1090037 |
| 1101496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2010-85, Class SL, IO, 1 Mo. LIBOR × -1 + 6.60% (b) | 2.11% | 07/20/37 | 35672 |
| 89000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2010-116, Class BM | 4.50% | 09/16/40 | 90858 |
| 1406100 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2010-116, Class JB | 5.00% | 06/16/40 | 1437212 |
| 569655 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2010-157, Class OP, PO | (d) | 12/20/40 | 481735 |
| 34250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2010-166, Class DI, IO | 4.50% | 02/20/39 | 439 |
| 158326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2011-4, Class PZ | 5.00% | 01/20/41 | 162621 |
| 771202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2011-35, Class BP | 4.50% | 03/16/41 | 779929 |
| 183899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2011-48, Class LI, IO | 5.50% | 01/16/41 | 22436 |
| 5568619 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2011-61, Class WS, IO, 1 Mo. LIBOR × -1 + 6.47% (b) | 1.98% | 02/20/38 | 222876 |
| 41422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2011-63, Class BI, IO | 6.00% | 02/20/38 | 2608 |
| 559039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2011-71, Class ZC | 5.50% | 07/16/34 | 568768 |
| 1366033 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2011-81, Class IC, IO, 1 Mo. LIBOR × -1 + 6.72%, 0.62% Cap (b) | 0.62% | 07/20/35 | 15797 |
| 236776 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2011-112, Class IP, IO | 0.50% | 08/16/26 | 3 |
| 239265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2011-129, Class CL | 5.00% | 03/20/41 | 240653 |
| 3348 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2011-136, Class GB | 2.50% | 05/20/40 | 3325 |
| 215429 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2011-146, Class EI, IO | 5.00% | 11/16/41 | 36886 |
| 35597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2011-151, Class TB, IO, 1 Mo. LIBOR × -70 + 465.50%, 3.50% Cap (b) | 3.50% | 04/20/41 | 2823 |
| 78957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-10, Class LI, IO (e) | 3.50% | 07/20/40 | 240 |
| 1931964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-18, Class IA, IO, 1 Mo. LIBOR × -1 + 6.68%, 0.58% Cap (b) | 0.58% | 07/20/39 | 14011 |
| 972459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-48, Class MI, IO | 5.00% | 04/16/42 | 165851 |
| 7289372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-84, Class QS, IO, 1 Mo. LIBOR × -1 + 6.10% (b) | 1.64% | 07/16/42 | 410054 |
| 6711842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-84, Class SJ, 1 Mo. LIBOR × -0.57 + 2.51% (b) | 0.00% | 07/16/42 | 4303050 |
| 251623 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-108, Class KB | 2.75% | 09/16/42 | 208146 |
| 3171069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-143, Class TI, IO | 3.00% | 12/16/27 | 136803 |
| 1603215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-149, Class PC (c) | 6.32% | 12/20/42 | 1693271 |
| 12798050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-4, Class IC, IO | 4.00% | 09/20/42 | 2175841 |
| 73758 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-5, Class IA, IO | 3.50% | 10/16/42 | 9606 |
| 502347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-10, Class DI, IO | 3.50% | 09/20/42 | 38959 |
| 2223000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-20, Class QM | 2.63% | 02/16/43 | 1904078 |
| 1417172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-22, Class IO, IO | 3.00% | 02/20/43 | 164161 |
| 3321401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-23, Class IP, IO | 3.50% | 08/20/42 | 421320 |
| 1431303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-53, Class OI, IO | 3.50% | 04/20/43 | 147046 |
| 1537417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-69, Class AI, IO | 3.50% | 05/20/43 | 237886 |
| 167422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-69, Class PI, IO | 5.00% | 05/20/43 | 16783 |
| 953680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-70, Class PM | 2.50% | 05/20/43 | 789490 |
| 1956913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-91, Class PB | 3.50% | 09/20/42 | 1921778 |
| 772890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-130, Class WS, IO, 1 Mo. LIBOR × -1 + 6.10% (b) | 1.61% | 09/20/43 | 94350 |
| 2691115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-170, Class IG, IO | 5.50% | 11/16/43 | 214135 |
| 688000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-183, Class PB | 4.50% | 12/20/43 | 702219 |
| 1940368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-6, Class IJ, IO | 4.50% | 06/16/43 | 122451 |
| 1974994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-44, Class IC, IO | 3.00% | 04/20/28 | 92275 |
| 5487721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-44, Class ID, IO (c) (f) | 0.33% | 03/16/44 | 51291 |

---

---

| |
|:---|
| **First Trust Low Duration Opportunities ETF (LMBS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **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)** |  |  |  |
|  | Government National Mortgage Association (Continued) |  |  |  |
| $19539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-91, Class JI, IO | 4.50% | 01/20/40 | $1159 |
| 598769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-94, Class Z | 4.50% | 01/20/44 | 593599 |
| 2528903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-99, Class HI, IO | 4.50% | 06/20/44 | 373988 |
| 2025552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-115, Class QI, IO | 3.00% | 03/20/29 | 51728 |
| 2646230 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-116, Class SB, IO, 1 Mo. LIBOR × -1 + 5.60% (b) | 1.11% | 08/20/44 | 275266 |
| 1360904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-118, Class TV, IO, 1 Mo. LIBOR × -1 + 6.25% (b) | 1.90% | 05/20/44 | 115909 |
| 8859106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-40, Class IO, IO | 4.00% | 03/20/45 | 1454662 |
| 4738638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-66, Class LI, IO | 5.00% | 05/16/45 | 444193 |
| 30219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-95, Class IK, IO (c) | 1.67% | 05/16/37 | 588 |
| 10186946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-99, Class EI, IO | 5.50% | 07/16/45 | 1669134 |
| 3779175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-124, Class DI, IO | 3.50% | 01/20/38 | 101830 |
| 411971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-137, Class WA (c) (f) | 5.55% | 01/20/38 | 432333 |
| 328646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-138, Class MI, IO | 4.50% | 08/20/44 | 34773 |
| 71496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-151, Class KW (c) | 5.09% | 04/20/34 | 71237 |
| 19712234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-164, Class MZ | 3.00% | 09/20/45 | 16194677 |
| 3647358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-168, Class GI, IO | 5.50% | 02/16/33 | 199781 |
| 196845 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-16, Class KZ | 3.00% | 02/16/46 | 163361 |
| 6572438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-37, Class AF, 1 Mo. LIBOR + 0.47% (a) | 2.65% | 11/20/43 | 6358140 |
| 74747 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-55, Class PB (c) | 5.39% | 03/20/31 | 75027 |
| 867757 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-69, Class WI, IO | 4.50% | 05/20/46 | 210890 |
| 2616282 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-75, Class SA, IO, 1 Mo. LIBOR × -1 + 6.00% (b) | 1.51% | 05/20/40 | 182226 |
| 460184 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-78, Class UI, IO | 4.00% | 06/20/46 | 50017 |
| 2394771 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-89, Class HI, IO | 3.50% | 07/20/46 | 405086 |
| 289985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-99, Class JA (c) | 5.52% | 11/20/45 | 301811 |
| 1039907 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-109, Class ZM | 3.50% | 08/20/36 | 940760 |
| 6149350 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-111, Class PI, IO | 3.50% | 06/20/45 | 577041 |
| 651078 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-118, Class GI, IO | 4.50% | 02/16/40 | 90679 |
| 7356609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-120, Class AS, IO, 1 Mo. LIBOR × -1 + 6.10% (b) | 1.61% | 09/20/46 | 912806 |
| 464000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-141, Class PC | 5.00% | 10/20/46 | 487374 |
| 331634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-145, Class LZ | 3.00% | 10/20/46 | 262419 |
| 7527121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-156, Class ZM | 3.50% | 11/20/46 | 7061309 |
| 303000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-160, Class LE | 2.50% | 11/20/46 | 227354 |
| 192358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-167, Class KI, IO | 6.00% | 12/16/46 | 26545 |
| 2086615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-12, Class SD, IO, 1 Mo. LIBOR × -1 + 6.10% (b) | 1.61% | 01/20/47 | 252966 |
| 971008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-17, Class KZ | 4.50% | 02/20/47 | 976998 |
| 3830416 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-32, Class DI, IO | 5.50% | 05/20/35 | 599405 |
| 2309002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-32, Class IB, IO | 5.00% | 02/16/47 | 215729 |
| 6182951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-33, Class PZ | 3.00% | 02/20/47 | 5451642 |
| 4245333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-56, Class BI, IO | 6.00% | 04/16/47 | 657071 |
| 2765006 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-113, Class IE, IO | 5.50% | 07/20/47 | 383901 |
| 3596649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-123, Class IO, IO | 5.00% | 08/16/47 | 783002 |
| 4703020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-130, Class LS, IO, 1 Mo. LIBOR × -1 + 6.20% (b) | 1.74% | 08/16/47 | 382529 |
| 4363993 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-133, Class JI, IO | 7.00% | 06/20/41 | 571052 |
| 4471582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-177, Class DI, IO | 4.50% | 11/16/47 | 799255 |
| 13292309 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-179, Class IN, IO | 5.00% | 07/20/44 | 2978120 |
| 3382679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-186, Class TI, IO, 1 Mo. LIBOR × -1 + 6.50%, 0.50% Cap (b) | 0.50% | 05/20/40 | 41602 |
| 920862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-44, Class Z | 2.50% | 09/20/47 | 722188 |
| 4915481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-79, Class IO, IO | 5.00% | 06/20/48 | 624332 |
| 5836085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-131, Class IA, IO | 5.00% | 04/20/44 | 609093 |
| 10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-134, Class KB | 3.50% | 10/20/48 | 9578397 |
| 7384648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-155, Class KD | 4.00% | 11/20/48 | 7260987 |

---

---

| |
|:---|
| **First Trust Low Duration Opportunities ETF (LMBS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **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)** |  |  |  |
|  | Government National Mortgage Association (Continued) |  |  |  |
| $5520847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-160, Class GY | 4.50% | 11/20/48 | $5391362 |
| 5453812 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-78I, Class EZ | 3.00% | 04/20/48 | 5065288 |
| 3078335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-6, Class EI, IO | 5.00% | 09/20/39 | 405829 |
| 6339822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-15, Class MZ | 4.50% | 02/20/49 | 6244563 |
| 12365805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-18, Class TP | 3.50% | 02/20/49 | 11980478 |
| 1028368 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-27, Class DI, IO | 5.50% | 01/20/40 | 159147 |
| 9513840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-128, Class EF, 1 Mo. LIBOR + 0.57% (a) | 4.00% | 10/20/49 | 8927281 |
| 17255611 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-31, Class IO, IO | 6.50% | 03/20/50 | 2040236 |
| 12530231 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-62, Class IA, IO | 5.50% | 05/20/50 | 2336977 |
| 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-62, Class IC, IO | 2.50% | 01/20/50 | 690311 |
| 14014801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-62, Class WI, IO | 2.50% | 08/20/49 | 3047031 |
| 7097422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-84, Class IM, IO | 2.50% | 05/20/50 | 1688887 |
| 19759118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-84, Class IO, IO | 2.50% | 04/20/50 | 4888094 |
| 18123199 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-8, Class DI, IO | 3.50% | 01/20/51 | 1789001 |
| 47614219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-27, Class IO, IO | 2.50% | 02/20/51 | 6149462 |
| 6950679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-46, Class IL, IO | 3.00% | 03/20/51 | 890319 |
| 24454490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-91, Class IB, IO | 3.00% | 05/20/51 | 3078571 |
| 93460922 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-97, Class NI, IO | 2.50% | 08/20/49 | 8604564 |
| 35088394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-188, Class PA | 2.00% | 10/20/51 | 30018335 |
| 5663049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-60, Class CZ | 3.00% | 03/20/52 | 4013147 |
| 32603713 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-63, Class AZ | 3.00% | 08/20/51 | 27704474 |
| 16738989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-63, Class BZ | 3.50% | 11/20/46 | 14759061 |
| 19527453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-63, Class HZ | 2.50% | 11/20/51 | 14716271 |
| 11175548 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-63, Class MZ | 3.00% | 05/20/51 | 9167942 |
| 15671847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-65, Class BZ | 3.50% | 04/20/52 | 13230854 |
| 7167869 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-68, Class DZ | 3.50% | 04/20/52 | 5993872 |
| 12493215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-68, Class MZ | 3.50% | 04/20/52 | 10499896 |
| 23739174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-68, Class XA | 3.50% | 02/20/49 | 22974234 |
| 12896652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-68, Class Z | 3.50% | 04/20/52 | 11046664 |
| 17339767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-68, Class ZC | 3.50% | 04/20/52 | 14592339 |
| 12991946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-69, Class QL | 3.00% | 04/20/52 | 11393839 |
| 17188911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-76, Class PG | 4.00% | 04/20/52 | 16948515 |
| 10917513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-78, Class AM | 3.50% | 04/20/52 | 9332192 |
| 14132496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-90, Class KZ | 3.00% | 04/20/51 | 11691226 |
| 8725777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-90, Class ZG | 1.50% | 02/20/52 | 4717740 |
| 22341349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-124, Class EY | 4.00% | 07/20/52 | 20672546 |
| 9812190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-154, Class EZ | 3.50% | 09/20/52 | 8451283 |
| 10173000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-204, Class YC | 4.00% | 07/20/52 | 9700940 |
|  | Seasoned Credit Risk Transfer Trust |  |  |  |
| 6153180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-1, Class HA | 3.00% | 05/25/57 | 5793958 |
| 9377526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-2, Class MA | 3.50% | 11/25/57 | 9021848 |
| 7186002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-3, Class MA | 3.50% | 08/25/57 | 6908869 |
| 29775276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-4, Class MA | 3.50% | 03/25/58 | 28733758 |
| 21282899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-1, Class MA | 3.50% | 07/25/58 | 20440258 |
| 9628478 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-2, Class MA | 3.50% | 08/25/58 | 9260515 |
| 5460049 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-3, Class MA | 3.50% | 10/25/58 | 5244187 |
| 26660242 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-2, Class MAU | 2.50% | 11/25/59 | 24649436 |
| 15000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-1, Class MBU | 3.25% | 11/25/61 | 12082303 |
|  | Seasoned Loans Structured Transaction Trust |  |  |  |
| 18543795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-2, Class A1 | 3.50% | 11/25/28 | 17917131 |
| 3913174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-3, Class A1C | 2.75% | 11/25/29 | 3672609 |
| 10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-1, Class A2 | 3.50% | 05/25/32 | 9193381 |

---

---

| |
|:---|
| **First Trust Low Duration Opportunities ETF (LMBS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **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)** |  |  |  |
|  | Vendee Mortgage Trust |  |  |  |
| $1520891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2003-2, Class Z | 5.00% | 05/15/33 | $1539333 |
| 5433222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2010-1, Class DZ | 4.25% | 04/15/40 | 5260614 |
| 8905793 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2011-1, Class DZ | 3.75% | 09/15/46 | 8288748 |
| 18079451 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2011-2, Class DZ | 3.75% | 10/15/41 | 17050832 |
|  |  |  |  | 1426467779 |
|  | **Commercial Mortgage-Backed Securities — 17.7%** |  |  |  |
|  | Federal Home Loan Mortgage Corporation Multiclass Certificates |  |  |  |
| 79276000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-RR02, Class DX, IO (c) | 1.82% | 09/27/28 | 6648648 |
| 50000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-RR06, Class BX, IO (c) | 1.84% | 05/27/33 | 6034767 |
| 37600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-RR09, Class AX, IO (c) | 2.63% | 11/27/28 | 4508240 |
| 47500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-RR09, Class BX, IO (c) | 2.20% | 02/27/29 | 5092000 |
| 96907000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-RR10, Class X, IO (c) | 2.01% | 12/27/27 | 7124913 |
| 112919000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-RR11, Class AX, IO (c) | 2.84% | 01/27/29 | 14073253 |
| 44200500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-RR11, Class BX, IO (c) | 2.44% | 12/27/28 | 3942791 |
| 38310466 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-P009, Class X, IO (f) | 1.44% | 01/25/31 | 2028712 |
| 4220392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-P011, Class X1, IO (f) | 1.79% | 09/25/45 | 539304 |
| 112345000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-RR15, Class X, IO (f) | 1.56% | 10/27/34 | 13257474 |
| 100924000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-RR18, Class X, IO (f) (g) (h) | 1.90% | 10/27/28 | 8689556 |
| 55000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-RR20, Class X, IO (f) | 1.85% | 04/25/33 | 7838199 |
|  | Federal Home Loan Mortgage Corporation Multifamily Structured Pass Through Certificates |  |  |  |
| 60835057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-K030, Class X1, IO (f) | 0.14% | 04/25/23 | 8055 |
| 72278380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-K036, Class X1, IO (f) | 0.68% | 10/25/23 | 249418 |
| 34782280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-K045, Class A2 | 3.02% | 01/25/25 | 33792783 |
| 17373000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-K052, Class A2 | 3.15% | 11/25/25 | 16865029 |
| 2004243 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-K054, Class A1 | 2.30% | 01/25/25 | 1948525 |
| 29868000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-K152, Class A2 | 3.08% | 01/25/31 | 27913713 |
| 285085645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-KIR1, Class X, IO (f) | 1.04% | 03/25/26 | 7804277 |
| 12034590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-K728, Class A2 | 3.06% | 08/25/24 | 11745952 |
| 45155000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-K156, Class A3 | 3.70% | 06/25/33 | 43155202 |
| 30175200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-K157, Class A2 | 3.99% | 05/25/33 | 29980310 |
| 1900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-K157, Class A3 | 3.99% | 08/25/33 | 1846318 |
| 8000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-K158, Class A3 | 3.90% | 10/25/33 | 7816240 |
| 8101000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-K159, Class A3 | 3.95% | 11/25/33 | 7883106 |
| 1090000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-1512, Class A2 | 2.99% | 05/25/31 | 1000876 |
| 3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-1513, Class A2 | 2.73% | 12/25/31 | 2697147 |
| 74022497 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-K097, Class X1, IO (f) | 1.09% | 07/25/29 | 4220215 |
| 57601252 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-K099, Class X1, IO (f) | 0.88% | 09/25/29 | 2698636 |
| 57790000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-K099, Class XAM, IO (f) | 1.14% | 09/25/29 | 3688489 |
| 125564934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-K100, Class X1, IO (f) | 0.65% | 09/25/29 | 4448226 |
| 69476008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-K101, Class X1, IO (c) | 0.84% | 10/25/29 | 3125767 |
| 64993000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-K102, Class XAM, IO (c) | 1.09% | 10/25/29 | 3983778 |
| 59029000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-K103, Class XAM, IO (f) | 0.90% | 11/25/29 | 3083650 |
| 28583943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-K1510, Class X1, IO (f) | 0.48% | 01/25/34 | 1075822 |
| 15826042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-K1511, Class X1, IO (f) | 0.78% | 03/25/34 | 911561 |
| 158081994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-K1512, Class X1, IO (f) | 0.91% | 04/25/34 | 10598671 |
| 56903609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-K1513, Class X1, IO (f) | 0.86% | 08/25/34 | 3652449 |
| 102571644 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-K734, Class X1, IO (f) | 0.65% | 02/25/26 | 1584660 |
| 68018000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-K734, Class XAM, IO (f) | 0.42% | 02/25/26 | 872902 |

---

---

| |
|:---|
| **First Trust Low Duration Opportunities ETF (LMBS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **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)** |  |  |  |
|  | Federal Home Loan Mortgage Corporation Multifamily Structured Pass Through Certificates (Continued) |  |  |  |
| $41996406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-K735, Class X1, IO (f) | 0.96% | 05/25/26 | $1066621 |
| 54276931 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-K736, Class X1, IO (f) | 1.29% | 07/25/26 | 1969031 |
| 7100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-K108, Class A2 | 1.52% | 03/25/30 | 6023711 |
| 8471000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-K109, Class A2 | 1.56% | 04/25/30 | 7182602 |
| 35424000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-K109, Class XAM, IO (f) | 1.80% | 04/25/30 | 3786857 |
| 108544099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-K110, Class X1, IO (f) | 1.70% | 04/25/30 | 10023559 |
| 23860000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-K110, Class XAM, IO (f) | 1.87% | 04/25/30 | 2579593 |
| 29090000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-K112, Class XAM, IO (f) | 1.67% | 05/25/30 | 2889894 |
| 82019000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-K113, Class XAM, IO (f) | 1.59% | 06/25/30 | 7818732 |
| 53100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-K114, Class XAM, IO (f) | 1.34% | 06/25/30 | 4328993 |
| 120784201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-K115, Class X1, IO (f) | 1.33% | 06/25/30 | 9311278 |
| 55537412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-K115, Class XAM, IO (f) | 1.55% | 07/25/30 | 5261109 |
| 13000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-K116, Class A2 | 1.38% | 07/25/30 | 10810951 |
| 16426753 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-K116, Class X1, IO (f) | 1.43% | 07/25/30 | 1330125 |
| 55500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-K116, Class XAM, IO (f) | 1.60% | 08/25/30 | 5471440 |
| 8000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-K117, Class A2 | 1.41% | 08/25/30 | 6650023 |
| 63500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-K117, Class XAM, IO (f) | 1.43% | 09/25/30 | 5684069 |
| 10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-K118, Class A2 | 1.49% | 09/25/30 | 8355554 |
| 77430983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-K118, Class X1, IO (f) | 0.96% | 09/25/30 | 4384336 |
| 37051661 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-K118, Class XAM, IO (f) | 1.17% | 09/25/30 | 2702763 |
| 14000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-K119, Class A2 | 1.57% | 09/25/30 | 11756388 |
| 51000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-K119, Class XAM, IO (f) | 1.13% | 10/25/30 | 3657271 |
| 7000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-K120, Class A2 | 1.50% | 10/25/30 | 5836529 |
| 75535017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-K120, Class XAM, IO (f) | 1.21% | 10/25/30 | 5758072 |
| 28218911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-K121, Class X1, IO (f) | 1.02% | 10/25/30 | 1685970 |
| 21236000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-K121, Class XAM, IO (f) | 1.19% | 11/25/30 | 1606355 |
| 78220521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-K122, Class X1, IO (f) | 0.88% | 11/25/30 | 4109151 |
| 35210000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-K122, Class XAM, IO (f) | 1.08% | 11/25/30 | 2421434 |
| 3100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-K1515, Class A2 | 1.94% | 02/25/35 | 2430092 |
| 89898661 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-K1515, Class X1, IO (f) | 1.51% | 02/25/35 | 10615189 |
| 44709347 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-K1516, Class X1, IO (f) | 1.51% | 05/25/35 | 5422797 |
| 55776778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-K1517, Class X1, IO (f) | 1.32% | 07/25/35 | 5955460 |
| 89842766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-KG04, Class X1, IO (f) | 0.85% | 11/25/30 | 4537886 |
| 75004247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-K737, Class X1, IO (c) | 0.64% | 10/25/26 | 1371513 |
| 38559000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-K738, Class XAM, IO (c) | 1.37% | 03/25/27 | 1931551 |
| 130513464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-K739, Class X1, IO (f) | 1.22% | 09/25/27 | 5554679 |
| 46072531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-K739, Class XAM, IO (f) | 1.57% | 09/25/27 | 2801205 |
| 70811000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-K740, Class XAM (f) | 1.11% | 10/25/27 | 3138336 |
| 5700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-K123, Class A2 | 1.62% | 12/25/30 | 4785799 |
| 4725000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-K124, Class A2 | 1.66% | 12/25/30 | 3973793 |
| 64367000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-K128, Class XAM, IO (f) | 0.73% | 03/25/31 | 3150172 |
| 27836000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-K129, Class XAM, IO (f) | 1.22% | 05/25/31 | 2244046 |
| 41565013 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-K130, Class XAM, IO (f) | 1.21% | 07/25/31 | 3481436 |
| 47926000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-K131, Class XAM, IO (f) | 0.94% | 07/25/31 | 3103103 |
| 78491000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-K132, Class XAM, IO (f) | 0.86% | 09/25/31 | 4650239 |
| 7675000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-K135, Class A2 | 2.15% | 10/25/31 | 6631912 |

---

---

| |
|:---|
| **First Trust Low Duration Opportunities ETF (LMBS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **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)** |  |  |  |
|  | Federal Home Loan Mortgage Corporation Multifamily Structured Pass Through Certificates (Continued) |  |  |  |
| $2900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-K1521, Class A2 | 2.18% | 08/25/36 | $2285588 |
| 9899557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-K1522, Class A1 | 1.91% | 11/25/35 | 8242978 |
| 13900000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-K1522, Class A2 | 2.36% | 10/25/36 | 11053343 |
| 143990000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-KG05, Class X1, IO (f) | 0.31% | 01/25/31 | 2950758 |
| 64459096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-KG06, Class X1, IO (f) | 0.53% | 10/25/31 | 2323738 |
| 107703000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-K741, Class XAM, IO (f) | 0.95% | 12/25/27 | 4345884 |
| 107062835 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-K744, Class X1, IO (f) | 0.86% | 07/25/28 | 4122551 |
| 15000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-K145, Class A2 | 2.58% | 05/25/32 | 13340259 |
| 200000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-K148, Class XAM, IO (f) | 0.25% | 08/25/32 | 4585820 |
|  | Federal National Mortgage Association Alternative Credit Enhancement Securities |  |  |  |
| 23966460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-M1, Class Z (f) (h) | 3.94% | 01/25/53 | 20651898 |
|  | FREMF Mortgage Trust |  |  |  |
| 3902114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-K28, Class B (f) (i) | 3.43% | 06/25/46 | 3887405 |
| 8700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-K29, Class B (f) (i) | 3.46% | 05/25/46 | 8639746 |
| 11943000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-K32, Class B (f) (i) | 3.53% | 10/25/46 | 11831592 |
| 29145000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-K35, Class B (f) (i) | 3.93% | 12/25/46 | 28865173 |
| 4505000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-K44, Class B (f) (i) | 3.72% | 01/25/48 | 4367462 |
| 8205000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-K45, Class B (f) (i) | 3.61% | 04/25/48 | 7936055 |
| 2300000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-K55, Class B (f) (i) | 4.17% | 04/25/49 | 2224084 |
|  | Government National Mortgage Association |  |  |  |
| 2961455 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2011-31, Class Z (c) | 3.53% | 09/16/52 | 2720261 |
| 19003228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-120, Class Z (c) | 2.46% | 01/16/55 | 13826378 |
| 92014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-74, Class AG (f) | 2.58% | 12/16/53 | 77734 |
| 5533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-194, Class AE (c) | 2.75% | 11/16/44 | 5203 |
| 16415145 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-30, Class DZ | 2.95% | 05/16/55 | 14597805 |
| 6681610 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-70, Class IO, IO (c) | 0.57% | 12/16/49 | 127078 |
| 4226964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-125, Class VA (c) | 2.70% | 05/16/35 | 3935737 |
| 15953113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-11, Class IO, IO (c) | 0.78% | 01/16/56 | 567374 |
| 7711112 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-26, Class IO, IO (c) | 0.64% | 02/16/58 | 194810 |
| 10748960 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-52, Class IO, IO (c) | 0.77% | 03/16/58 | 363521 |
| 3817396 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-110, Class VA | 2.10% | 01/16/38 | 3354309 |
| 9840874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-127, Class IO, IO (c) | 0.86% | 05/16/58 | 409004 |
| 3205460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-23, Class Z | 2.50% | 05/16/59 | 2197990 |
| 4170769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-35, Class Z (c) | 2.50% | 05/16/59 | 2939444 |
| 6610581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-76, Class B | 2.60% | 12/16/56 | 5308503 |
| 2315425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-106, Class AE | 2.60% | 12/16/56 | 1989131 |
| 2651137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-146, Class Z | 2.60% | 09/16/57 | 1894708 |
| 4361095 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-4, Class Z | 2.50% | 10/16/59 | 2902248 |
| 17441060 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-123, Class Z | 2.50% | 06/16/60 | 13780018 |
| 24944733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-170, Class Z | 2.50% | 11/16/60 | 19876575 |
| 18429525 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-7, Class Z | 2.50% | 01/16/61 | 13456652 |
| 1896044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-104, Class Z | 2.80% | 05/16/61 | 1245684 |
| 6700000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-161, Class B | 2.00% | 08/16/62 | 3962552 |
| 8841191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-169, Class Z | 1.83% | 06/16/62 | 3942889 |
| 22711316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-43, Class Z | 2.00% | 09/16/61 | 14321624 |
| 19365634 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-106, Class Z | 2.00% | 05/16/63 | 12720839 |
| 5418556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-109, Class Z (c) | 2.25% | 08/16/64 | 2678707 |
| 4819671 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-166, Class Z (f) | 2.50% | 04/16/65 | 2644934 |
|  |  |  |  | 826367299 |

---

---

| |
|:---|
| **First Trust Low Duration Opportunities ETF (LMBS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **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 — 30.0%** |  |  |  |
|  | Federal Home Loan Mortgage Corporation |  |  |  |
| $992249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 760043, 5 Yr. Constant Maturity Treasury Rate + 1.39% (a) | 2.94% | 12/01/48 | $996896 |
| 3832511 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 840359, 12 Mo. LIBOR + 1.65% (a) | 3.67% | 06/01/46 | 3876392 |
| 86233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool A19763 | 5.00% | 04/01/34 | 87967 |
| 339257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool A47828 | 3.50% | 08/01/35 | 327852 |
| 151187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool A47937 | 5.50% | 08/01/35 | 158217 |
| 60452 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool A48972 | 5.50% | 05/01/36 | 63414 |
| 65410 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool A54675 | 5.50% | 01/01/36 | 68798 |
| 138848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool A65324 | 5.50% | 09/01/37 | 142483 |
| 79606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool A97294 | 4.00% | 02/01/41 | 78805 |
| 690226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool B70791 | 4.00% | 06/01/39 | 683811 |
| 2803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool C01310 | 6.50% | 03/01/32 | 2931 |
| 9768 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool C03458 | 5.00% | 02/01/40 | 10059 |
| 86253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool C04269 | 3.00% | 10/01/42 | 81293 |
| 15434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool C91482 | 3.50% | 07/01/32 | 15194 |
| 9498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool E02883 | 4.00% | 04/01/26 | 9450 |
| 13254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool G01443 | 6.50% | 08/01/32 | 13852 |
| 217011 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool G02017 | 5.00% | 12/01/35 | 224257 |
| 99432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool G04814 | 5.50% | 10/01/38 | 104637 |
| 18406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool G05173 | 4.50% | 11/01/31 | 18468 |
| 215374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool G05275 | 5.50% | 02/01/39 | 226378 |
| 55440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool G05449 | 4.50% | 05/01/39 | 56424 |
| 169034 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool G06583 | 5.00% | 06/01/41 | 175209 |
| 418437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool G07100 | 5.50% | 07/01/40 | 440384 |
| 40299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool G07266 | 4.00% | 12/01/42 | 39701 |
| 312695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool G07329 | 4.00% | 01/01/43 | 309546 |
| 312376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool G07683 | 4.00% | 03/01/44 | 308457 |
| 1604 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool G08113 | 6.50% | 02/01/36 | 1687 |
| 1808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool G13625 | 5.50% | 01/01/24 | 1805 |
| 21349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool G13733 | 5.00% | 11/01/24 | 21740 |
| 20417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool G14088 | 4.00% | 02/01/26 | 20315 |
| 9195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool G14106 | 6.00% | 10/01/24 | 9166 |
| 2069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool G14167 | 5.50% | 07/01/23 | 2066 |
| 105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool G14233 | 6.00% | 01/01/24 | 105 |
| 221689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool G14348 | 4.00% | 10/01/26 | 220576 |
| 5695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool G14376 | 4.00% | 09/01/25 | 5667 |
| 4649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool G14995 | 5.50% | 12/01/24 | 4640 |
| 423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool G15821 | 5.00% | 07/01/25 | 430 |
| 47793 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool G15949 | 4.00% | 01/01/29 | 47555 |
| 1658 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool G15957 | 5.50% | 12/01/24 | 1655 |
| 12982 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool G18264 | 5.00% | 07/01/23 | 13220 |
| 33404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool G18287 | 5.50% | 12/01/23 | 33335 |
| 8846 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool G60020 | 4.50% | 12/01/43 | 8815 |
| 353461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool G60114 | 5.50% | 06/01/41 | 371511 |
| 529367 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool G60168 | 4.50% | 07/01/45 | 534397 |
| 191172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool G60194 | 3.50% | 08/01/45 | 183895 |
| 187940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool G60808 | 3.00% | 10/01/46 | 174894 |
| 2704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool H09034 | 5.50% | 05/01/37 | 2703 |
| 31686 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool J09465 | 4.00% | 04/01/24 | 31822 |
| 14171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool J09504 | 4.00% | 04/01/24 | 14232 |
| 4829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool J09798 | 4.00% | 05/01/24 | 4806 |
| 6488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool J10623 | 4.00% | 09/01/24 | 6517 |

---

---

| |
|:---|
| **First Trust Low Duration Opportunities ETF (LMBS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **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)** |  |  |  |
|  | Federal Home Loan Mortgage Corporation (Continued) |  |  |  |
| $127667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool N70075 | 5.00% | 01/01/35 | $126177 |
| 249668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool N70081 | 5.50% | 07/01/38 | 249530 |
| 49874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool Q07189 | 4.00% | 04/01/42 | 49372 |
| 17866 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool Q07479 | 3.50% | 04/01/42 | 17278 |
| 75143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool Q11791 | 3.50% | 10/01/42 | 72649 |
| 50984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool Q11836 | 3.50% | 10/01/42 | 49286 |
| 359879 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool Q14034 | 3.50% | 12/01/42 | 348292 |
| 384044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool Q54651 | 4.50% | 03/01/48 | 391240 |
| 668568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool Q55037 | 4.50% | 04/01/48 | 687604 |
| 1815916 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool Q61217 | 4.00% | 01/01/49 | 1789622 |
| 7973412 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool QK1195 | 2.50% | 11/01/41 | 7166107 |
| 13138543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool QK1203 | 2.50% | 11/01/41 | 11865451 |
| 2583675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool QO0748 | 4.50% | 08/01/37 | 2611347 |
| 2996437 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool QO0750 | 4.50% | 08/01/37 | 3029621 |
| 1057344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool QO0773 | 4.50% | 08/01/37 | 1069051 |
| 5163670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool QO0807 | 4.50% | 09/01/37 | 5220576 |
| 8300722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool SC0190 | 2.50% | 09/01/41 | 7526864 |
| 10922983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool SC0252 | 3.00% | 01/01/42 | 10180263 |
| 9133555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool SC0270 | 2.50% | 04/01/42 | 8237157 |
| 7122943 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool SC0277 | 3.00% | 05/01/42 | 6691456 |
| 11725254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool SC0298 | 6.00% | 01/01/30 | 12057927 |
| 10691353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool SD0887 | 3.50% | 09/01/49 | 10289783 |
| 16624014 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool SD0948 | 3.00% | 05/01/47 | 15517048 |
| 23759574 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool SD0949 | 3.00% | 09/01/48 | 22371450 |
| 18004841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool SD0954 | 3.00% | 02/01/47 | 16953236 |
| 11491716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool SD0961 | 3.50% | 11/01/48 | 11022997 |
| 20406897 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool SD1170 | 3.50% | 09/01/49 | 19594034 |
| 5471117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool SD1289 | 3.00% | 10/01/50 | 5085081 |
| 7685374 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool SD1361 | 3.50% | 02/01/50 | 7403066 |
| 310752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool U50165 | 4.00% | 05/01/32 | 304119 |
| 2132919 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool U59020 | 4.00% | 06/01/35 | 2087271 |
| 865461 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool U64762 | 4.50% | 10/01/45 | 874130 |
| 86868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool U80068 | 3.50% | 10/01/32 | 85338 |
| 53991 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool U80212 | 3.50% | 02/01/33 | 52642 |
| 72370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool U90245 | 3.50% | 10/01/42 | 69851 |
| 725494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool U90690 | 3.50% | 06/01/42 | 700226 |
| 10842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool U90932 | 3.00% | 02/01/43 | 10039 |
| 26262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool U92272 | 4.50% | 12/01/43 | 26502 |
| 83223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool U99045 | 3.50% | 03/01/43 | 80329 |
| 91824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool U99084 | 4.50% | 02/01/44 | 93361 |
| 43678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool U99091 | 4.50% | 03/01/44 | 44078 |
| 122262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool U99096 | 4.50% | 05/01/44 | 123375 |
| 11357448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool ZA4196 | 3.00% | 04/01/43 | 10693140 |
| 1355314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool ZS2492 | 6.50% | 04/01/35 | 1443510 |
| 50457388 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool ZT0779 | 3.00% | 09/01/47 | 46459638 |
|  | Federal National Mortgage Association |  |  |  |
| 35827 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 190371 | 6.50% | 07/01/36 | 37859 |
| 21403 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 255190 | 5.50% | 05/01/34 | 22388 |
| 8996 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 255984 | 4.50% | 11/01/25 | 9067 |
| 74578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 256181 | 5.50% | 03/01/36 | 75855 |
| 283020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 256576 | 5.50% | 01/01/37 | 288915 |
| 6535 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 256808 | 5.50% | 07/01/37 | 6425 |

---

---

| |
|:---|
| **First Trust Low Duration Opportunities ETF (LMBS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **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)** |  |  |  |
|  | Federal National Mortgage Association (Continued) |  |  |  |
| $41372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 256936 | 6.00% | 10/01/37 | $42608 |
| 44890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 545759 | 6.50% | 07/01/32 | 47406 |
| 10031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 555851 | 6.50% | 01/01/33 | 10421 |
| 146731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 683246 | 5.50% | 02/01/33 | 151481 |
| 140790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 725014 | 5.50% | 12/01/33 | 147186 |
| 291107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 735415 | 6.50% | 12/01/32 | 307163 |
| 2746 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 745875 | 6.50% | 09/01/36 | 2904 |
| 37444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 747097 | 6.00% | 10/01/29 | 37675 |
| 239762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 788149 | 5.50% | 05/01/33 | 247530 |
| 111121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 812741 | 5.50% | 02/01/35 | 113088 |
| 164892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 827948 | 5.50% | 05/01/35 | 167912 |
| 227925 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 850000 | 5.50% | 01/01/36 | 239159 |
| 33855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 871039 | 5.50% | 02/01/37 | 33996 |
| 847183 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 879015 | 4.00% | 10/01/35 | 836893 |
| 97031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 888001 | 5.50% | 10/01/36 | 101913 |
| 80699 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 888163 | 7.00% | 12/01/33 | 84902 |
| 273636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 889610 | 5.50% | 06/01/38 | 287694 |
| 8376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 890149 | 6.50% | 10/01/38 | 8938 |
| 12283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 890231 | 5.00% | 07/01/25 | 12496 |
| 983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 890378 | 6.00% | 05/01/24 | 979 |
| 688158 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 890556 | 4.50% | 10/01/43 | 691892 |
| 131821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 905917 | 5.50% | 01/01/37 | 138480 |
| 63406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 922386 | 5.50% | 01/01/37 | 62594 |
| 8857 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 930562 | 5.00% | 02/01/39 | 9171 |
| 74672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 931808 | 5.50% | 08/01/39 | 78510 |
| 87364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 953115 | 5.50% | 11/01/38 | 88876 |
| 1280 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 962556 | 5.00% | 04/01/23 | 1302 |
| 226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 973561 | 5.00% | 03/01/23 | 226 |
| 35946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 976871 | 6.50% | 08/01/36 | 37403 |
| 12792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 995097 | 6.50% | 10/01/37 | 13752 |
| 65933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 995149 | 6.50% | 10/01/38 | 69889 |
| 31764 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 995228 | 6.50% | 11/01/38 | 34261 |
| 5770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 995252 | 5.00% | 12/01/23 | 5870 |
| 2648 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 995259 | 6.50% | 11/01/23 | 2636 |
| 93302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AA3303 | 5.50% | 06/01/38 | 93569 |
| 398181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AB0460 | 5.50% | 02/01/37 | 406327 |
| 125260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AB0731 | 4.00% | 06/01/39 | 123877 |
| 33629 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AB2092 | 4.00% | 01/01/41 | 33257 |
| 9490 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AB2133 | 4.00% | 01/01/26 | 9433 |
| 849139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AB2506 | 5.00% | 03/01/41 | 873502 |
| 930392 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AB2959 | 4.50% | 07/01/40 | 910025 |
| 426506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AB8676 | 3.50% | 05/01/42 | 394394 |
| 8883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AC1232 | 5.00% | 07/01/24 | 9037 |
| 161464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AC3267 | 5.50% | 09/01/39 | 169763 |
| 16129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AD0889 | 6.00% | 09/01/24 | 16036 |
| 207508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AD4317 | 4.00% | 04/01/40 | 205213 |
| 7435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AD5222 | 4.50% | 05/01/30 | 7568 |
| 51008 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AD7137 | 5.50% | 07/01/40 | 53436 |
| 166533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AE0137 | 4.50% | 03/01/36 | 168544 |
| 54866 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AE4476 | 4.00% | 03/01/41 | 54259 |
| 75166 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AE7005 | 4.00% | 10/01/40 | 74334 |
| 2679181 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AE7733 | 5.00% | 11/01/40 | 2774382 |

---

---

| |
|:---|
| **First Trust Low Duration Opportunities ETF (LMBS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **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)** |  |  |  |
|  | Federal National Mortgage Association (Continued) |  |  |  |
| $19887 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AE9284 | 4.00% | 11/01/40 | $19667 |
| 478159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AE9959 | 5.00% | 03/01/41 | 487846 |
| 204607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AH0979 | 3.50% | 01/01/41 | 191832 |
| 139938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AH1089 | 4.00% | 11/01/40 | 138234 |
| 82480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AH1141 | 4.50% | 12/01/40 | 83900 |
| 54562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AH4404 | 4.00% | 01/01/41 | 53958 |
| 52050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AH7204 | 4.00% | 03/01/41 | 51474 |
| 123458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AI6093 | 4.50% | 06/01/31 | 125318 |
| 20515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AI6581 | 4.50% | 07/01/41 | 20869 |
| 90059 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AI8779 | 4.00% | 11/01/41 | 89063 |
| 321254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AI9114 | 4.00% | 06/01/42 | 317233 |
| 1358927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AI9124 | 4.00% | 08/01/42 | 1342199 |
| 914977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AI9158 | 6.50% | 01/01/41 | 995806 |
| 99573 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AK5555 | 4.00% | 04/01/42 | 98472 |
| 63386 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AL0212 | 5.50% | 02/01/38 | 66352 |
| 170299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AL0241 | 4.00% | 04/01/41 | 168413 |
| 1024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AL0399 | 6.00% | 08/01/24 | 1020 |
| 338 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AL0446 | 6.00% | 05/01/24 | 337 |
| 1281 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AL1195 | 6.00% | 09/01/23 | 1276 |
| 63356 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AL2142 | 6.50% | 09/01/38 | 67098 |
| 915 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AL2589 | 5.50% | 05/01/25 | 912 |
| 65120 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AL2892 | 3.50% | 12/01/42 | 62889 |
| 392409 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AL3093 | 3.50% | 02/01/43 | 378908 |
| 1510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AL4962 | 6.00% | 05/01/24 | 1503 |
| 478165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AL5890 | 4.50% | 03/01/43 | 486395 |
| 329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AL6057 | 6.00% | 08/01/24 | 328 |
| 24366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AL6948 | 5.00% | 09/01/25 | 24789 |
| 468385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AL7637 | 5.00% | 01/01/42 | 467800 |
| 1178574 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AL7905 | 4.50% | 03/01/34 | 1182883 |
| 97232 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AL9226 | 5.50% | 12/01/41 | 103140 |
| 13922334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AL9401 | 4.00% | 02/01/46 | 13828451 |
| 7132705 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AL9566 | 3.50% | 06/01/46 | 6850751 |
| 692805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AL9777 | 4.50% | 01/01/47 | 698530 |
| 183678 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AP1197 | 3.50% | 09/01/42 | 177457 |
| 110798 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AP7963 | 4.00% | 09/01/42 | 110831 |
| 1523379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AQ0411 | 3.50% | 10/01/42 | 1471825 |
| 40507 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AQ9715 | 3.00% | 01/01/43 | 37467 |
| 239274 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AQ9999 | 3.00% | 02/01/43 | 221318 |
| 2210205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AS1719 | 5.00% | 02/01/44 | 2288646 |
| 316448 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AS5236 | 4.00% | 05/01/45 | 304281 |
| 164599 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AS7211 | 3.00% | 04/01/46 | 153880 |
| 188543 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AS9990 | 4.50% | 07/01/47 | 188587 |
| 66298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AT0332 | 3.00% | 04/01/43 | 59864 |
| 62259 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AY0013 | 4.50% | 01/01/45 | 62347 |
| 243076 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool BE3631 | 4.50% | 05/01/47 | 244604 |
| 10183 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool BH9428 | 4.50% | 09/01/47 | 10196 |
| 45483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool BJ6232 | 5.00% | 04/01/48 | 46108 |
| 583660 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool BJ9100 | 4.50% | 02/01/48 | 599668 |
| 448396 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool BJ9111 | 4.50% | 03/01/48 | 459820 |
| 1005554 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool BJ9124 | 4.50% | 04/01/48 | 1033125 |
| 221428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool BK4769 | 5.00% | 08/01/48 | 226127 |
| 78649 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool BK4851 | 5.00% | 05/01/48 | 79497 |

---

---

| |
|:---|
| **First Trust Low Duration Opportunities ETF (LMBS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **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)** |  |  |  |
|  | Federal National Mortgage Association (Continued) |  |  |  |
| $12353606 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool BM3867 | 4.00% | 02/01/46 | $12270328 |
| 4479454 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool BM4785 | 4.50% | 10/01/38 | 4599252 |
| 5512740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool BM5671 | 4.50% | 01/01/49 | 5565072 |
| 414072 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool BN1027 | 5.50% | 03/01/49 | 427637 |
| 909229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool BN4059 | 4.00% | 12/01/48 | 877747 |
| 10409556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool BR1090 | 2.50% | 06/01/41 | 9464903 |
| 4603893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool BT7879 | 4.50% | 09/01/37 | 4656310 |
| 9982557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool BT9396 | 2.50% | 11/01/41 | 9015239 |
| 6293545 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool BT9397 | 2.50% | 11/01/41 | 5656288 |
| 7377824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool BV7699 | 2.50% | 04/01/42 | 6644608 |
| 3122710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool BV7979 | 4.50% | 08/01/37 | 3156833 |
| 4752886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool BV7981 | 4.50% | 08/01/37 | 4801565 |
| 2835278 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool BV7982 | 4.50% | 08/01/37 | 2865890 |
| 4433300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool BV8046 | 4.50% | 09/01/52 | 4465557 |
| 3752296 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool CA2947 | 4.00% | 12/01/48 | 3682859 |
| 7559408 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool CB2113 | 2.50% | 11/01/41 | 6854670 |
| 14040275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool CB3540 | 3.00% | 05/01/42 | 12980681 |
| 4748194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool CB4196 | 4.50% | 07/01/37 | 4811566 |
| 15874992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool CB4266 | 4.50% | 07/01/37 | 16055379 |
| 51560032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool CB4688 | 5.00% | 09/01/52 | 53270285 |
| 1776157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool FM1284 | 3.50% | 02/01/46 | 1715115 |
| 1648436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool FM1285 | 4.00% | 10/01/43 | 1630200 |
| 5145601 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool FM2450 | 3.50% | 12/01/39 | 4996916 |
| 29055168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool FM2863 | 3.50% | 09/01/48 | 27808868 |
| 83718209 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool FM2972 | 4.00% | 12/01/44 | 83042681 |
| 97515763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool FM3003 | 4.00% | 05/01/49 | 96951893 |
| 6896720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool FM8218 | 4.00% | 04/01/48 | 6837024 |
| 4831974 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool FM9408 | 4.50% | 06/01/46 | 4879562 |
| 8433456 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool FM9585 | 2.50% | 11/01/41 | 7647174 |
| 13907204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool FS0045 | 3.00% | 09/01/47 | 12949760 |
| 15212413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool FS0074 | 3.00% | 01/01/47 | 14421143 |
| 50429424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool FS0697 | 2.50% | 02/01/42 | 45483081 |
| 39172630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool FS0742 | 3.50% | 05/01/44 | 37873553 |
| 15797175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool FS1540 | 3.00% | 04/01/42 | 14683822 |
| 28798637 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool FS1541 | 3.00% | 04/01/42 | 26696359 |
| 25667426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool FS1573 | 2.50% | 11/01/41 | 23275676 |
| 39379030 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool FS1797 | 3.50% | 07/01/46 | 38046549 |
| 9736799 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool FS1884 | 4.00% | 05/01/42 | 9568459 |
| 48229371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool FS2044 | 4.50% | 07/01/44 | 49029539 |
| 38591758 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool FS2045 | 4.50% | 12/01/43 | 39139047 |
| 28395162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool FS2127 | 3.50% | 06/01/48 | 27237060 |
| 9021403 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool FS2787 | 4.00% | 10/01/48 | 8948639 |
| 17369849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool FS2796 | 3.50% | 08/01/47 | 16710286 |
| 13905355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool FS2871 | 3.50% | 07/01/42 | 13366008 |
| 13899094 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool FS2872 | 3.50% | 08/01/42 | 13321511 |
| 18550695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool FS2925 | 3.00% | 08/01/48 | 17466917 |
| 35270321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool FS2961 | 5.50% | 10/01/52 | 37108713 |
| 70615 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool MA0096 | 4.50% | 06/01/29 | 71882 |
| 1728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool MA0293 | 4.50% | 01/01/30 | 1759 |
| 28143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool MA0295 | 5.00% | 01/01/30 | 28824 |
| 23850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool MA0353 | 4.50% | 03/01/30 | 24278 |
| 2940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool MA0777 | 5.00% | 06/01/31 | 3011 |

---

---

| |
|:---|
| **First Trust Low Duration Opportunities ETF (LMBS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **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)** |  |  |  |
|  | Federal National Mortgage Association (Continued) |  |  |  |
| $27559 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool MA1222 | 4.00% | 10/01/32 | $27458 |
| 46838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool MA1228 | 3.00% | 09/01/42 | 43787 |
| 1923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool MA2509 | 3.00% | 01/01/46 | 1764 |
| 161602 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool MA3101 | 4.50% | 08/01/47 | 162937 |
| 95783 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool MA3123 | 5.00% | 08/01/47 | 97824 |
| 79000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool TBA | 3.50% | 03/15/53 | 74134906 |
| 16000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool TBA | 4.00% | 03/15/53 | 15458125 |
| 20000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool TBA (k) | 5.00% | 03/15/38 | 20285454 |
| 30000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool TBA | 2.50% | 03/15/53 | 26302435 |
| 75000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool TBA | 3.00% | 03/15/53 | 68211914 |
|  | Government National Mortgage Association |  |  |  |
| 51682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 3149 | 6.00% | 10/20/31 | 54350 |
| 32743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 3172 | 6.00% | 12/20/31 | 34893 |
| 35618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 3227 | 6.00% | 04/20/32 | 37302 |
| 7107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 3474 | 6.00% | 11/20/33 | 7510 |
| 33831 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 4251 | 5.50% | 10/20/23 | 33753 |
| 31469 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 455986 | 5.25% | 07/15/25 | 30562 |
| 68565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 487108 | 6.00% | 04/15/29 | 70804 |
| 28311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 553144 | 5.50% | 04/15/33 | 29719 |
| 93359 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 604338 | 5.00% | 05/15/33 | 96537 |
| 64331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 604897 | 5.00% | 12/15/33 | 66122 |
| 88838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 605389 | 5.00% | 04/15/34 | 91866 |
| 214777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 615403 | 4.50% | 08/15/33 | 216348 |
| 7596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 627123 | 5.50% | 03/15/34 | 7991 |
| 68584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 638704 | 5.50% | 11/15/36 | 70632 |
| 145375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 653143 | 4.90% | 04/15/36 | 149260 |
| 236140 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 658324 | 5.50% | 03/15/37 | 241624 |
| 112136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 677190 | 5.00% | 06/15/38 | 115973 |
| 14721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 687833 | 6.00% | 08/15/38 | 15499 |
| 40766 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 706840 | 4.50% | 05/15/40 | 41391 |
| 185630 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 706855 | 4.50% | 09/15/40 | 188478 |
| 229380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 711483 | 4.00% | 01/15/40 | 228093 |
| 106918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 711543 | 4.00% | 11/15/40 | 106319 |
| 721930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 711563 | 4.50% | 03/15/41 | 733009 |
| 4263568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 720225 | 4.50% | 07/15/39 | 4289497 |
| 201605 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 723216 | 4.50% | 08/15/40 | 204475 |
| 60123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 723248 | 5.00% | 10/15/39 | 62181 |
| 223414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 724230 | 5.00% | 08/15/39 | 230530 |
| 57320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 724267 | 5.00% | 09/15/39 | 59132 |
| 137732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 724340 | 4.50% | 09/15/39 | 138920 |
| 79204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 725272 | 4.50% | 11/15/39 | 80052 |
| 37116 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 726394 | 4.50% | 10/15/39 | 37578 |
| 11239 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 728921 | 4.50% | 12/15/24 | 11328 |
| 185587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 733595 | 4.50% | 04/15/40 | 187902 |
| 67105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 733733 | 5.00% | 06/15/40 | 69246 |
| 475428 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 736317 | 4.25% | 06/20/36 | 470596 |
| 96772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 736617 | 4.00% | 12/15/35 | 96111 |
| 696549 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 737673 | 4.50% | 11/15/40 | 706498 |
| 161590 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 737996 | 4.00% | 02/15/41 | 159885 |
| 236880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 739341 | 3.50% | 10/15/41 | 229912 |
| 136918 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 743673 | 4.50% | 07/15/40 | 139018 |
| 239053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 745478 | 5.00% | 08/20/40 | 246231 |

---

---

| |
|:---|
| **First Trust Low Duration Opportunities ETF (LMBS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **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)** |  |  |  |
|  | Government National Mortgage Association (Continued) |  |  |  |
| $520216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 748939 | 4.00% | 09/20/40 | $511913 |
| 72295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 754384 | 4.50% | 03/20/42 | 74897 |
| 277009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 762905 | 4.50% | 04/15/41 | 280489 |
| 928510 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 769102 | 4.50% | 07/20/41 | 931304 |
| 269871 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 781623 | 5.00% | 06/15/33 | 274904 |
| 42480 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 781697 | 6.00% | 11/15/33 | 45107 |
| 218255 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 781824 | 5.50% | 11/15/34 | 231387 |
| 8721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 781862 | 5.50% | 01/15/35 | 9024 |
| 22924 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 782070 | 7.00% | 06/15/32 | 23565 |
| 44298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 782810 | 4.50% | 11/15/39 | 44972 |
| 68185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 783091 | 5.50% | 06/15/40 | 71437 |
| 8823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 783220 | 5.50% | 09/15/24 | 8823 |
| 120756 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 783375 | 5.00% | 08/15/41 | 124362 |
| 7166285 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 783590 | 4.50% | 06/20/41 | 7320245 |
| 183417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 783760 | 5.00% | 02/15/42 | 190336 |
| 2755424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 784063 | 5.00% | 09/20/45 | 2832280 |
| 391643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 784343 | 5.00% | 02/15/41 | 406162 |
| 3651864 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 784752 | 4.00% | 03/15/45 | 3631376 |
| 1393144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool 785020 | 3.00% | 05/20/50 | 1247020 |
| 1883331 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AC0197 | 4.00% | 12/20/42 | 1876532 |
| 368622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AD0026 | 3.50% | 06/20/33 | 358822 |
| 73506 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AD0856 | 3.75% | 08/20/33 | 72838 |
| 35401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AG8899 | 4.00% | 12/20/43 | 35002 |
| 541755 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AI6317 | 4.50% | 06/20/44 | 543477 |
| 400663 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AK2389 | 4.50% | 11/20/44 | 402617 |
| 106307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AN4469 | 5.00% | 12/15/40 | 108370 |
| 200045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool AR8421 | 5.00% | 10/20/41 | 202595 |
| 863263 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool BB1216 | 4.50% | 06/20/47 | 868516 |
| 422761 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool BB4731 | 4.00% | 07/20/47 | 415740 |
| 290444 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool BB4757 | 4.00% | 08/20/47 | 288821 |
| 163892 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool BB4769 | 4.00% | 08/20/47 | 161169 |
| 287379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool BD0483 | 4.50% | 11/20/47 | 287907 |
| 394656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool BF0415 | 5.00% | 06/20/35 | 399942 |
| 271607 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool BL6909 | 5.00% | 03/20/49 | 275056 |
| 949544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool CB3161 | 5.50% | 03/20/50 | 971358 |
| 120769 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool MA1017 | 6.00% | 05/20/43 | 128699 |
| 86839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool MA1162 | 6.00% | 07/20/43 | 92551 |
| 10873 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool MA2215 | 3.50% | 09/20/44 | 10214 |
| 77826 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool MA2683 | 6.00% | 03/20/45 | 82883 |
| 79609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool MA2759 | 6.00% | 01/20/45 | 84791 |
| 36987 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool MA2897 | 6.00% | 03/20/45 | 39421 |
| 162275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool MA2966 | 6.00% | 09/20/39 | 172948 |
| 163670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool MA3249 | 6.00% | 04/20/40 | 174410 |
| 345260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool MA3459 | 6.00% | 08/20/39 | 367797 |
| 256967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool MA4076 | 7.00% | 01/20/39 | 271497 |
| 2379695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool MA5714 | 6.00% | 01/20/49 | 2534974 |
|  |  |  |  | 1405567767 |
|  | **Total U.S. Government Agency Mortgage-Backed Securities** | **Total U.S. Government Agency Mortgage-Backed Securities** |  | 3658402845 |
|  | (Cost $3,818,863,225) |  |  |  |

---

---

| |
|:---|
| **First Trust Low Duration Opportunities ETF (LMBS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **MORTGAGE-BACKED SECURITIES — 14.4%** | **MORTGAGE-BACKED SECURITIES — 14.4%** | **MORTGAGE-BACKED SECURITIES — 14.4%** | **MORTGAGE-BACKED SECURITIES — 14.4%** | |
| | **Collateralized Mortgage Obligations — 8.4%** | **Collateralized Mortgage Obligations — 8.4%** | **Collateralized Mortgage Obligations — 8.4%** | |
|  | Arroyo Mortgage Trust |  |  |  |
| $9000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-2, Class M1 (i) | 4.76% | 04/25/49 | $8200547 |
| 2593476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-3, Class A3 (i) | 3.42% | 10/25/48 | 2414947 |
| 2681294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1R, Class A2 (i) | 1.48% | 10/25/48 | 2294220 |
| 3701794 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1R, Class A3 (i) | 1.64% | 10/25/48 | 3175955 |
|  | BRAVO Residential Funding Trust |  |  |  |
| 1777157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-NQM1, Class A2 (i) | 1.26% | 02/25/49 | 1590507 |
| 4442893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-NQM1, Class A3 (i) | 1.33% | 02/25/49 | 3976940 |
| 2764801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-NQM2, Class A1 (i) | 0.97% | 03/25/60 | 2625576 |
| 10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2023-NQM1, Class A1, steps up to 6.76% on 01/01/27 (i) (j) | 5.76% | 01/25/63 | 10003766 |
|  | Chase Home Lending Mortgage Trust |  |  |  |
| 1383291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-ATR2, Class A11, 1 Mo. LIBOR + 0.90% (a) (i) | 5.29% | 07/25/49 | 1331907 |
|  | CHL Mortgage Pass-Through Trust |  |  |  |
| 29528 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2004-8, Class 2A1 | 4.50% | 06/25/19 | 29726 |
|  | CIM Trust |  |  |  |
| 1953578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-J1, Class A22 (i) | 3.50% | 03/25/48 | 1780844 |
|  | CIM Trust (Continued) |  |  |  |
| 1639633 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-INV1, Class A11 (i) | 4.00% | 02/25/49 | 1565525 |
|  | Citigroup Global Markets Mortgage Securities VII, Inc. |  |  |  |
| 233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2003-UP2, Class PO1, PO | (d) | 12/25/18 | 203 |
|  | Citigroup Mortgage Loan Trust |  |  |  |
| 5583077 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-RP2, Class A1 (i) | 2.59% | 02/25/58 | 5381595 |
|  | COLT Mortgage Loan Trust |  |  |  |
| 11460502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-5, Class A1 (i) | 4.55% | 04/25/67 | 11412015 |
|  | Connecticut Avenue Securities Trust |  |  |  |
| 7074000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-R01, Class 2B1, 1 Mo. LIBOR + 4.35% (a) (i) | 8.86% | 07/25/31 | 7352264 |
| 1784753 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-R01, Class 2M2, 1 Mo. LIBOR + 2.45% (a) (i) | 6.96% | 07/25/31 | 1787407 |
| 920504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-R02, Class 1M2, 1 Mo. LIBOR + 2.30% (a) (i) | 6.81% | 08/25/31 | 920595 |
| 197215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-R06, Class 2M2, 1 Mo. LIBOR + 2.10% (a) (i) | 6.61% | 09/25/39 | 197221 |
|  | CSMC Trust |  |  |  |
| 4214807 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-RPL9, Class A1 (a) (i) | 3.85% | 09/25/57 | 4092349 |
|  | Ellington Financial Mortgage Trust |  |  |  |
| 5912822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-2, Class A1 (i) | 4.30% | 04/25/67 | 5788084 |
|  | Federal Home Loan Mortgage Corporation STACR Debt Notes |  |  |  |
| 11363531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-HQA5, Class M2, 30 Day Average SOFR + 2.60% (a) (i) | 6.91% | 11/25/50 | 11483537 |
|  | Federal Home Loan Mortgage Corporation STACR REMIC Trust |  |  |  |
| 1090749 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-DNA1, Class M2, 1 Mo. LIBOR + 1.70% (a) (i) | 6.21% | 01/25/50 | 1088418 |
| 10474502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-HQA2, Class M2, 1 Mo. LIBOR + 3.10% (a) (i) | 7.61% | 03/25/50 | 10710665 |
| 5069336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-DNA5, Class M2, 30 Day Average SOFR + 1.65% (a) (i) | 5.96% | 01/25/34 | 5017698 |
|  | Federal Home Loan Mortgage Corporation STACR Trust |  |  |  |
| 8540000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-DNA3, Class B1, 1 Mo. LIBOR + 3.25% (a) (i) | 7.76% | 07/25/49 | 8637388 |
| 8775000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-DNA4, Class B1, 1 Mo. LIBOR + 2.70% (a) (i) | 7.21% | 10/25/49 | 8704912 |
| 8750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-HQA1, Class B1, 1 Mo. LIBOR + 4.40% (a) (i) | 8.91% | 02/25/49 | 9197129 |

---

---

| |
|:---|
| **First Trust Low Duration Opportunities ETF (LMBS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **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)** |  |  |  |
|  | Flagstar Mortgage Trust |  |  |  |
| $345867 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-2, Class A4 (i) | 3.50% | 04/25/48 | $339661 |
| 2434196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-4, Class B1 (f) (i) | 4.21% | 07/25/48 | 2223363 |
| 1579703 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-2, Class A11 (i) | 3.50% | 12/25/49 | 1440475 |
| 17089822 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-9INV, Class A1 (i) | 2.50% | 09/25/41 | 15238504 |
|  | GCAT Trust |  |  |  |
| 6752841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-NQM7, Class A1 (i) | 1.92% | 08/25/66 | 6085863 |
|  | GMACM Mortgage Loan Trust |  |  |  |
| 723 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2003-J10, Class A1 | 4.75% | 01/25/19 | 710 |
|  | GS Mortgage-Backed Securities Trust |  |  |  |
| 702677 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-PJ3, Class A1 (i) | 3.50% | 03/25/50 | 664286 |
| 7007967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-PJ5, Class A2 (c) (i) | 3.00% | 03/27/51 | 6214248 |
| 3550475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-PJ6, Class A8 (i) | 2.50% | 11/25/51 | 3155080 |
|  | Homeward Opportunities Fund Trust |  |  |  |
| 3269227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-1, Class A1, steps up to 6.08% on 06/01/26 (i) (j) | 5.08% | 07/25/67 | 3266587 |
|  | JP Morgan Mortgage Trust |  |  |  |
| 5038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2004-S2, Class 5A1 | 5.50% | 12/25/19 | 4550 |
| 1124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-IVR3, Class 2A1 (f) (i) | 2.97% | 09/25/44 | 1115 |
| 3155104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-IVR2, Class A5 (f) (i) | 5.49% | 01/25/45 | 3076209 |
| 1305306 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-5, Class A1 (i) | 3.50% | 10/25/48 | 1195756 |
| 1206993 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-5, Class A13 (i) | 3.50% | 10/25/48 | 1076666 |
| 1356935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-8, Class A7 (i) | 4.00% | 01/25/49 | 1285800 |
| 1701801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-1, Class A5 (i) | 4.00% | 05/25/49 | 1628238 |
| 683994 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-8, Class A15 (i) | 3.50% | 03/25/50 | 625458 |
| 1215638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-INV2, Class A15 (i) | 3.50% | 02/25/50 | 1121178 |
| 4038 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-LTV2, Class A11, 1 Mo. LIBOR + 0.90% (a) (i) | 5.41% | 12/25/49 | 4033 |
| 6779097 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-4, Class A3 (i) | 3.00% | 11/25/50 | 5905790 |
| 4442383 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-INV1, Class A15 (i) | 3.50% | 08/25/50 | 3885120 |
| 4983550 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-6, Class A4 (i) | 2.50% | 10/25/51 | 4428562 |
|  | JP Morgan Wealth Management |  |  |  |
| 10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-ATR1, Class A5 (i) | 3.00% | 02/25/50 | 8386512 |
|  | Mello Mortgage Capital Acceptance |  |  |  |
| 4286102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-MTG2, Class A9 (i) | 4.36% | 10/25/48 | 4121754 |
|  | MetLife Securitization Trust |  |  |  |
| 3754031 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-1A, Class A (i) | 3.75% | 03/25/57 | 3580235 |
|  | MFA Trust |  |  |  |
| 9251844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-INV1, Class A1, steps up to 4.91% on 03/25/26 (i) (j) | 3.91% | 04/25/66 | 8929058 |
|  | Mill City Mortgage Loan Trust |  |  |  |
| 1555102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-1, Class A1 (i) | 3.25% | 05/25/62 | 1505532 |
| 1204778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-2, Class A1 (f) (i) | 3.50% | 05/25/58 | 1180486 |
| 4604984 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-4, Class A1B (i) | 3.50% | 04/25/66 | 4423200 |
|  | New Residential Mortgage Loan Trust |  |  |  |
| 5281930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-2A, Class B1 (i) | 4.50% | 08/25/55 | 5019526 |
| 3986720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-1A, Class A1 (i) | 3.75% | 03/25/56 | 3713251 |
| 9543896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-3A, Class A1 (i) | 4.50% | 05/25/58 | 9087153 |
| 2353727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-4A, Class A1M, 1 Mo. LIBOR + 0.90% (a) (i) | 5.41% | 01/25/48 | 2309416 |
| 17171721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-4A, Class A1S, 1 Mo. LIBOR + 0.75% (a) (i) | 5.26% | 01/25/48 | 16852583 |
| 4782424 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-NQM5, Class A1 (i) | 2.71% | 11/25/59 | 4464517 |

---

---

| |
|:---|
| **First Trust Low Duration Opportunities ETF (LMBS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **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)** |  |  |  |
|  | OBX Trust |  |  |  |
| $1347187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-EXP1, Class 1A3 (i) | 4.00% | 04/25/48 | $1261703 |
| 1078666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-EXP1, Class 2A1, 1 Mo. LIBOR + 0.85% (a) (i) | 5.36% | 04/25/48 | 1068365 |
|  | PRKCM Trust |  |  |  |
| 8183215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-AFC1, Class A1 (i) | 1.51% | 08/25/56 | 6742805 |
|  | Provident Funding Mortgage Trust |  |  |  |
| 1306089 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-1, Class A5 (i) | 3.00% | 12/25/49 | 1102037 |
| 2024441 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-1, Class A5 (i) | 3.00% | 02/25/50 | 1724057 |
|  | PSMC Trust |  |  |  |
| 3143796 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-3, Class A1 (i) | 3.00% | 11/25/50 | 2784878 |
|  | RUN Trust |  |  |  |
| 9448425 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-NQM1, Class A1 (i) | 4.00% | 03/25/67 | 9028845 |
|  | Seasoned Credit Risk Transfer Trust |  |  |  |
| 7227736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-2, Class M1 (i) | 4.00% | 08/25/56 | 7063479 |
|  | Sequoia Mortgage Trust |  |  |  |
| 1758552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-2, Class A19 (i) | 3.50% | 02/25/47 | 1582796 |
| 463889 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-CH1, Class A13 (i) | 4.00% | 08/25/47 | 442558 |
| 5287496 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-CH1, Class B1B (i) | 4.45% | 03/25/48 | 4789489 |
| 3497025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-1, Class A19 (i) | 3.50% | 02/25/50 | 3077263 |
| 10257938 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-1, Class A7 (i) | 3.50% | 02/25/50 | 9284737 |
|  | Starwood Mortgage Residential Trust 2022-3 |  |  |  |
| 8343214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-3, Class A1 (i) | 4.16% | 03/25/67 | 8178842 |
|  | TIAA Bank Mortgage Loan Trust |  |  |  |
| 762739 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-3, Class A1 (i) | 4.00% | 11/25/48 | 723874 |
|  | Towd Point Mortgage Trust |  |  |  |
| 17228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-3, Class A4B (i) | 3.50% | 03/25/54 | 17154 |
| 3244438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-2, Class A1 (i) | 3.25% | 03/25/58 | 3130214 |
| 11964988 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-3, Class A1 (i) | 3.75% | 05/25/58 | 11512073 |
| 2377129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-5, Class A1A (i) | 3.25% | 07/25/58 | 2293208 |
| 12796485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-1, Class A1 (i) | 3.73% | 03/25/58 | 12373042 |
| 1949276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-4, Class A1 (i) | 2.90% | 10/25/59 | 1825983 |
|  | Verus Securitization Trust |  |  |  |
| 2553096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-INV3, Class A2 (i) | 2.95% | 11/25/59 | 2442136 |
| 6255000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-INV1, Class A3, steps up to 4.89% on 05/26/24 (i) (j) | 3.89% | 03/25/60 | 5966071 |
| 6593561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-3, Class A1 (i) | 1.05% | 06/25/66 | 5644332 |
| 11523377 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-5, Class A1, steps up to 4.80% on 06/25/26 (i) (j) | 3.80% | 04/25/67 | 10971195 |
|  | Vista Point Securitization Trust |  |  |  |
| 5743000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-1, Class M1 (i) | 4.15% | 03/25/65 | 5294816 |
|  | Wells Fargo Mortgage Backed Securities Trust |  |  |  |
| 346235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-1, Class A1 (i) | 3.94% | 11/25/48 | 334042 |
|  | WinWater Mortgage Loan Trust |  |  |  |
| 1168682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-1, Class 1A18 (i) | 3.50% | 01/20/46 | 1066930 |
| 503346 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-1, Class 2A3 (i) | 3.00% | 12/20/30 | 473091 |
| 3711900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-1, Class B1 (f) (i) | 3.77% | 01/20/46 | 3379311 |
|  |  |  |  | 392781741 |
|  | **Commercial Mortgage-Backed Securities — 6.0%** |  |  |  |
|  | Austin Fairmont Hotel Trust |  |  |  |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-FAIR, Class A, 1 Mo. LIBOR + 1.05% (a) (i) | 5.51% | 09/15/32 | 4934575 |
|  | Aventura Mall Trust |  |  |  |
| 10830000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-AVM, Class A (f) (i) | 4.11% | 07/05/40 | 10204309 |

---

---

| |
|:---|
| **First Trust Low Duration Opportunities ETF (LMBS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **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)** |  |  |  |
|  | BAMLL Commercial Mortgage Securities Trust |  |  |  |
| $8000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-WBRK, Class A (f) (i) | 3.53% | 03/10/37 | $7324025 |
|  | BANK |  |  |  |
| 6070000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-BN16, Class ASB | 3.90% | 02/15/52 | 5881559 |
|  | BBCMS Mortgage Trust |  |  |  |
| 12000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-DELC, Class A, 1 Mo. LIBOR + 0.98% (a) (i) | 5.43% | 08/15/36 | 11894154 |
| 9394000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-TALL, Class A, 1 Mo. LIBOR + 0.72% (a) (i) | 5.18% | 03/15/37 | 8744374 |
|  | BPR Trust |  |  |  |
| 4762581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-WILL, Class A, 1 Mo. LIBOR + 1.75% (a) (i) | 6.21% | 06/15/38 | 4635432 |
| 10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-OANA, Class A, 1 Mo. CME Term SOFR + 1.90% (a) (i) | 6.38% | 04/15/37 | 9870108 |
|  | BX Commercial Mortgage Trust |  |  |  |
| 10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-IMC, Class A, 1 Mo. LIBOR + 1.00% (a) (i) | 5.46% | 04/15/34 | 9781575 |
|  | BXP Trust |  |  |  |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-GM, Class A (i) | 3.38% | 06/13/39 | 4617466 |
|  | Citigroup Commercial Mortgage Trust |  |  |  |
| 2915000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-GC23, Class B | 4.18% | 07/10/47 | 2786947 |
| 88671672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-P4, Class XA (f) | 1.89% | 07/10/49 | 4244207 |
| 9302763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-P7, Class A3 | 3.44% | 04/14/50 | 8831567 |
|  | COMM Mortgage Trust |  |  |  |
| 3887830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2012-CR3, Class AM (i) | 3.42% | 10/15/45 | 3514704 |
| 10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-CR13, Class AM | 4.45% | 11/10/46 | 9825993 |
| 11475000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-CR15, Class AM | 4.43% | 02/10/47 | 11255320 |
| 6850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-CR21, Class AM | 3.99% | 12/10/47 | 6585796 |
| 4160430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-PC1, Class A4 | 3.62% | 07/10/50 | 4040289 |
|  | DBWF Mortgage Trust |  |  |  |
| 10844968 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-GLKS, Class A, 1 Mo. LIBOR + 1.03% (a) (i) | 5.60% | 12/19/30 | 10641370 |
|  | Fontainebleau Miami Beach Trust |  |  |  |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-FBLU, Class C (i) | 3.75% | 12/10/36 | 4713675 |
|  | GS Mortgage Securities Trust |  |  |  |
| 3826645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-GC18, Class A3 | 3.80% | 01/10/47 | 3772244 |
|  | Hawaii Hotel Trust |  |  |  |
| 9290000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-MAUI, Class A, 1 Mo. LIBOR + 1.15% (a) (i) | 5.61% | 05/15/38 | 9139771 |
|  | JP Morgan Chase Commercial Mortgage Securities Trust |  |  |  |
| 4060488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-JP5, Class A4 | 3.46% | 03/15/50 | 3910172 |
| 10466125 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-PHH, Class A, 1 Mo. LIBOR + 1.21%, 2.71% Floor (a) (i) | 5.67% | 06/15/35 | 9648146 |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-ACE, Class A (i) | 3.29% | 01/10/37 | 4700731 |
|  | MHC Commercial Mortgage Trust |  |  |  |
| 6335000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-MHC, Class A, 1 Mo. LIBOR + 0.80% (a) (i) | 5.26% | 04/15/38 | 6229493 |
|  | Morgan Stanley Bank of America Merrill Lynch Trust |  |  |  |
| 8015000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-C15, Class AS | 4.26% | 04/15/47 | 7822190 |
| 6504860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-C31, Class A4 | 2.84% | 11/15/49 | 6057040 |
|  | Morgan Stanley Capital I Trust |  |  |  |
| 10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-BNK2, Class A3 | 2.79% | 11/15/49 | 9293515 |
| 7527000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-MP, Class A (f) (i) | 4.28% | 07/11/40 | 6780424 |
| 4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-H7, Class ASB | 3.17% | 07/15/52 | 3747167 |
|  | RBS Commercial Funding, Inc. Trust |  |  |  |
| 7045000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-GSP, Class A (f) (i) | 3.83% | 01/15/32 | 6806213 |
|  | Ready Capital Mortgage Financing LLC |  |  |  |
| 8651144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-FL6, Class A, 1 Mo. LIBOR + 0.95% (a) (i) | 5.46% | 07/25/36 | 8353966 |

---

---

| |
|:---|
| **First Trust Low Duration Opportunities ETF (LMBS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** | **Value** |
| **MORTGAGE-BACKED SECURITIES (Continued)** | **MORTGAGE-BACKED SECURITIES (Continued)** | **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)** |  |  |  |  |
|  |  | RIAL 2022-FL8 Issuer Ltd |  |  |  |  |
| $| 4428000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-FL8, Class A, 1 Mo. CME Term SOFR + 2.25% (a) (i) | 6.73% | 01/19/37 | $| 4372694 |
|  |  | UBS Commercial Mortgage Trust |  |  |  |  |
|  | 10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2017-C3, Class A3 | 3.17% | 08/15/50 |  | 9393051 |
|  |  | VMC Finance LLC |  |  |  |  |
|  | 2983500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-HT1, Class A, 1 Mo. LIBOR + 1.65% (a) (i) | 6.12% | 01/18/37 |  | 2897177 |
|  |  | Wells Fargo Commercial Mortgage Trust |  |  |  |  |
|  | 12708385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-LC12, Class A3FL, 1 Mo. LIBOR + 1.05% (a) (i) | 5.51% | 07/15/46 |  | 12698601 |
|  | 3425757 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-LC22, Class ASB | 3.57% | 09/15/58 |  | 3342116 |
|  | 7500000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-NXS2, Class B (f) | 4.28% | 07/15/58 |  | 7035835 |
|  | 66202837 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2016-C37, Class XA (f) | 0.81% | 12/15/49 |  | 1478846 |
|  | 5450000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-SDAL, Class C, 1 Mo. LIBOR + 1.74% (a) (i) | 6.20% | 02/15/37 |  | 5217390 |
|  |  | WFRBS Commercial Mortgage Trust |  |  |  |  |
|  | 3495311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-C18, Class A4 | 3.90% | 12/15/46 |  | 3442384 |
|  | 3233900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-C19, Class A4 | 3.83% | 03/15/47 |  | 3179593 |
|  |  |  |  |  |  | 283646204 |
|  |  | **Total Mortgage-Backed Securities** |  |  |  | 676427945 |
|  |  | (Cost $705,189,937) |  |  |  |  |
| **U.S. GOVERNMENT BONDS AND NOTES — 4.8%** | **U.S. GOVERNMENT BONDS AND NOTES — 4.8%** | **U.S. GOVERNMENT BONDS AND NOTES — 4.8%** | **U.S. GOVERNMENT BONDS AND NOTES — 4.8%** | **U.S. GOVERNMENT BONDS AND NOTES — 4.8%** | **U.S. GOVERNMENT BONDS AND NOTES — 4.8%** | **U.S. GOVERNMENT BONDS AND NOTES — 4.8%** |
|  | 20000000 | U.S. Treasury Note | 2.75% | 08/31/23 |  | 19770086 |
|  | 60000000 | U.S. Treasury Note | 2.75% | 11/15/23 |  | 59074132 |
|  | 70000000 | U.S. Treasury Note | 2.88% | 11/30/23 |  | 68930898 |
|  | 50000000 | U.S. Treasury Note | 2.63% | 12/31/23 |  | 49047095 |
|  | 25000000 | U.S. Treasury Note | 4.25% | 10/15/25 |  | 25192871 |
|  |  | **Total U.S. Government Bonds and Notes** |  |  |  | 222015082 |
|  |  | (Cost $222,128,422) |  |  |  |  |
| **ASSET-BACKED SECURITIES — 4.3%** | **ASSET-BACKED SECURITIES — 4.3%** | **ASSET-BACKED SECURITIES — 4.3%** | **ASSET-BACKED SECURITIES — 4.3%** | **ASSET-BACKED SECURITIES — 4.3%** | **ASSET-BACKED SECURITIES — 4.3%** | **ASSET-BACKED SECURITIES — 4.3%** |
|  |  | American Credit Acceptance Receivables Trust |  |  |  |  |
|  | 2698816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-1, Class A (i) | 0.99% | 12/15/25 |  | 2682489 |
|  | 9000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-1, Class B (i) | 1.68% | 09/14/26 |  | 8810453 |
|  | 2471957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-2, Class A (i) | 2.66% | 02/13/26 |  | 2456200 |
|  |  | AMSR Trust |  |  |  |  |
|  | 3800000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-SFR5, Class A (i) | 1.38% | 11/17/37 |  | 3458641 |
|  |  | CFMT LLC |  |  |  |  |
|  | 4052000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-EBO1, Class M1 (i) | 1.65% | 11/25/50 |  | 3661156 |
|  |  | CIG Auto Receivables Trust |  |  |  |  |
|  | 2609375 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1A, Class A (i) | 0.69% | 04/14/25 |  | 2570414 |
|  |  | Corevest American Finance Trust |  |  |  |  |
|  | 6183920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-1, Class A1 (i) | 1.83% | 03/15/50 |  | 5804636 |
|  | 10755901 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-3, Class A (i) | 1.36% | 08/15/53 |  | 9613646 |
|  | 5959508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-4, Class A (i) | 1.17% | 12/15/52 |  | 5342184 |
|  |  | CWABS, Inc. Asset-Backed Certificates Trust |  |  |  |  |
|  | 2186917 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2004-5, Class M1, 1 Mo. LIBOR + 0.86% (a) | 5.36% | 08/25/34 |  | 2159631 |
|  |  | Diamond Resorts Owner Trust |  |  |  |  |
|  | 4796099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1A, Class A (i) | 1.51% | 11/21/33 |  | 4453276 |

---

---

| |
|:---|
| **First Trust Low Duration Opportunities ETF (LMBS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** | **ASSET-BACKED SECURITIES (Continued)** |
|  | DT Auto Owner Trust |  |  |  |
| $2353349 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-4A, Class A (i) | 0.56% | 09/15/25 | $2323217 |
|  | FCI Funding LLC |  |  |  |
| 1230727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-1A, Class A (i) | 3.63% | 02/18/31 | 1229261 |
|  | Flagship Credit Auto Trust |  |  |  |
| 12601716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-4, Class A (i) | 0.81% | 07/17/26 | 12242189 |
| 8537146 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-1, Class A (i) | 1.79% | 10/15/26 | 8302009 |
| 9692505 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-3, Class A2 (i) | 4.06% | 10/15/25 | 9623920 |
|  | FNA VI LLC |  |  |  |
| 7270970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-1A, Class A (i) | 1.35% | 01/10/32 | 6615224 |
|  | Foursight Capital Automobile Receivables Trust |  |  |  |
| 7561667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-1, Class A2 (i) | 1.15% | 09/15/25 | 7445434 |
|  | GLS Auto Receivables Issuer Trust |  |  |  |
| 8765696 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-4A, Class A (i) | 0.84% | 07/15/25 | 8642795 |
|  | GSAMP Trust |  |  |  |
| 4793886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2006-SEA1, Class M2, 1 Mo. LIBOR + 1.65% (a) (i) | 6.16% | 05/25/36 | 5163349 |
|  | M360 Ltd. |  |  |  |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-CRE3, Class A, 1 Mo. LIBOR + 1.50% (a) (i) | 6.01% | 11/22/38 | 4937500 |
|  | OSCAR US Funding XIV LLC |  |  |  |
| 7038025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-1A, Class A2 (i) | 1.60% | 03/10/25 | 6907429 |
|  | Santander Drive Auto Receivables Trust |  |  |  |
| 2672169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-4, Class A3 | 0.51% | 08/15/25 | 2665366 |
| 16250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-1, Class A3 | 1.94% | 11/17/25 | 16045110 |
| 8796919 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-5, Class A2 | 3.98% | 01/15/25 | 8764596 |
| 4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-5, Class A3 | 4.11% | 08/17/26 | 3957221 |
|  | Sierra Timeshare Receivables Funding LLC |  |  |  |
| 1743438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-1A, Class A (i) | 3.20% | 01/20/36 | 1689936 |
| 3866860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-2A, Class A (i) | 1.33% | 07/20/37 | 3657021 |
|  | Tricon American Homes |  |  |  |
| 9361881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-SFR1, Class A (i) | 1.50% | 07/17/38 | 8403518 |
|  | United Auto Credit Securitization Trust |  |  |  |
| 1095730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-1, Class A (i) | 1.11% | 07/10/24 | 1092868 |
|  | Verizon Master Trust |  |  |  |
| 10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-7, Class A1A, steps up to 5.98% on 11/20/24 (j) | 5.23% | 11/22/27 | 10087084 |
|  | Westlake Automobile Receivables Trust |  |  |  |
| 10750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-3A, Class A3 (i) | 0.95% | 06/16/25 | 10485192 |
| 10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2022-1A, Class A3 (i) | 2.42% | 07/15/25 | 9775088 |
|  | **Total Asset-Backed Securities** |  |  | 201068053 |
|  | (Cost $205,964,915) |  |  |  |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **EXCHANGE-TRADED FUNDS — 0.0%** | **EXCHANGE-TRADED FUNDS — 0.0%** | **EXCHANGE-TRADED FUNDS — 0.0%** |
|  | **Capital Markets — 0.0%** |  |
| 24359 | First Trust Long Duration Opportunities ETF (l) | 551731 |
|  | (Cost $662,348) |  |
|  | **Total Investments — 101.7%** | 4758465656 |
|  | (Cost $4,952,808,847) |  |

---

---

| |
|:---|
| **First Trust Low Duration Opportunities ETF (LMBS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Number of<br> Contracts** | **Description** | **Notional<br> Amount** | **Exercise<br> Price** | **Expiration<br> Date** | **Value** |
| **PUT OPTIONS PURCHASED — 0.0%** | **PUT OPTIONS PURCHASED — 0.0%** | **PUT OPTIONS PURCHASED — 0.0%** | **PUT OPTIONS PURCHASED — 0.0%** | **PUT OPTIONS PURCHASED — 0.0%** | **PUT OPTIONS PURCHASED — 0.0%** |
| 100 | U.S. 10-Year Treasury Futures Put | $11451562 | $113.00 | 02/24/23 | $25000 |
|  | (Cost $126,822) |  |  |  |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES SOLD SHORT — (7.2)%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES SOLD SHORT — (7.2)%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES SOLD SHORT — (7.2)%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES SOLD SHORT — (7.2)%** | |
|  | Federal National Mortgage Association |  |  |  |
| $(152500000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool TBA (k) | 2.50% | 03/15/38 | (142580087) |
| (10000000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool TBA | 4.50% | 02/15/53 | (9878125) |
| (10000000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool TBA | 5.00% | 02/15/53 | (10039844) |
| (102000000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool TBA (k) | 4.50% | 03/15/53 | (100748906) |
| (30000000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool TBA | 5.00% | 03/15/53 | (30107812) |
| (32000000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool TBA | 5.50% | 03/15/53 | (32505000) |
| (10000000) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool TBA | 5.00% | 04/15/53 | (10030468) |
|  | **Total U.S. Government Agency Mortgage-Backed Securities Sold Short** | **Total U.S. Government Agency Mortgage-Backed Securities Sold Short** | **Total U.S. Government Agency Mortgage-Backed Securities Sold Short** | (335890242) |
|  | (Proceeds $336,195,547) |  |  |  |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Number of<br> Contracts** | **Description** | **Notional<br> Amount** | **Exercise<br> Price** | **Expiration<br> Date** | **Value** |
| **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)%** | **CALL OPTIONS WRITTEN — (0.1)%** | **CALL OPTIONS WRITTEN — (0.1)%** |
| (203) | U.S. 2-Year Treasury Futures Call | $(20873315) | $103.00 | 02/24/23 | (60266) |
| (200) | U.S. 5-Year Treasury Futures Call | (21848244) | 107.00 | 02/24/23 | (453125) |
| (150) | U.S. 5-Year Treasury Futures Call | (16386183) | 111.00 | 02/24/23 | (9375) |
| (175) | U.S. 5-Year Treasury Futures Call | (19203520) | 111.50 | 03/24/23 | (34180) |
| (275) | U.S. 5-Year Treasury Futures Call | (30176960) | 112.00 | 05/26/23 | (92383) |
| (100) | U.S. 10-Year Treasury Futures Call | (11451562) | 113.00 | 02/24/23 | (176562) |
| (100) | U.S. 10-Year Treasury Futures Call | (11451562) | 116.00 | 02/24/23 | (25000) |
| (128) | U.S. Treasury Long Bond Futures Call | (16624000) | 125.00 | 02/24/23 | (648000) |
| (585) | U.S. Treasury Long Bond Futures Call | (75976875) | 128.00 | 02/24/23 | (1544766) |
| (50) | U.S. Treasury Long Bond Futures Call | (6493750) | 135.00 | 02/24/23 | (9375) |
| (150) | U.S. Treasury Long Bond Futures Call | (19481250) | 136.00 | 02/24/23 | (18750) |
| (15) | U.S. Treasury Long Bond Futures Call | (2126250) | 138.00 | 02/24/23 | (70078) |
| (15) | U.S. Treasury Long Bond Futures Call | (2126250) | 145.00 | 02/24/23 | (16172) |
| (350) | U.S. Treasury Long Bond Futures Call | (45981250) | 136.00 | 03/24/23 | (262500) |
| (75) | U.S. Treasury Long Bond Futures Call | (9853125) | 136.00 | 05/26/23 | (127734) |
| (25) | U.S. Treasury Long Bond Futures Call | (3284375) | 137.00 | 05/26/23 | (35938) |
|  | **Total Call Options Written** |  |  |  | (3584204) |
|  | (Premiums received $3,785,277) |  |  |  |  |
| **PUT OPTIONS WRITTEN — 0.0%** | **PUT OPTIONS WRITTEN — 0.0%** | **PUT OPTIONS WRITTEN — 0.0%** | **PUT OPTIONS WRITTEN — 0.0%** | **PUT OPTIONS WRITTEN — 0.0%** | **PUT OPTIONS WRITTEN — 0.0%** |
| (100) | U.S. 2-Year Treasury Futures Put | (10282421) | 102.50 | 02/24/23 | (20313) |
| (200) | U.S. 5-Year Treasury Futures Put | (21848436) | 105.00 | 02/24/23 | 0 |
| (375) | U.S. 5-Year Treasury Futures Put | (40965818) | 108.00 | 02/24/23 | (49805) |
| (75) | U.S. 5-Year Treasury Futures Put | (8193164) | 109.00 | 02/24/23 | (31641) |

---

---

| |
|:---|
| **First Trust Low Duration Opportunities ETF (LMBS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Number of<br> Contracts** | **Description** | **Notional<br> Amount** | **Notional<br> Amount** | **Exercise<br> Price** | **Expiration<br> Date** | **Value** |
| **WRITTEN OPTIONS (Continued)** | **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)** | **PUT OPTIONS WRITTEN (Continued)** | **PUT OPTIONS WRITTEN (Continued)** | **PUT OPTIONS WRITTEN (Continued)** |
| (675) | U.S. 5-Year Treasury Futures Put | $| (74070720) | $108.00 | 03/24/23 | $(142383) |
| (75) | U.S. 5-Year Treasury Futures Put |  | (8230080) | 107.00 | 05/26/23 | (20508) |
| (150) | U.S. 5-Year Treasury Futures Put |  | (16460160) | 108.00 | 05/26/23 | (70312) |
| (50) | U.S. 10-Year Treasury Futures Put |  | (5753905) | 112.00 | 05/26/23 | (29687) |
| (50) | U.S. Treasury Long Bond Futures Put |  | (6493750) | 118.00 | 02/24/23 | (781) |
| (475) | U.S. Treasury Long Bond Futures Put |  | (61690625) | 128.00 | 02/24/23 | (363672) |
| (20) | U.S. Treasury Long Bond Futures Put |  | (2835000) | 136.00 | 02/24/23 | (10625) |
| (60) | U.S. Treasury Long Bond Futures Put |  | (8505000) | 138.00 | 02/24/23 | (56250) |
| (50) | U.S. Treasury Long Bond Futures Put |  | (6568750) | 125.00 | 03/24/23 | (24219) |
| (50) | U.S. Treasury Long Bond Futures Put |  | (6568750) | 127.00 | 03/24/23 | (40625) |
| (100) | U.S. Treasury Long Bond Futures Put |  | (13137500) | 125.00 | 05/26/23 | (126563) |
| (250) | U.S. Treasury Long Bond Futures Put |  | (32843750) | 128.00 | 05/26/23 | (519531) |
| (350) | Ultra 10-Year U.S. Treasury Futures Put |  | (42421092) | 118.00 | 02/24/23 | (60156) |
|  | **Total Put Options Written** |  |  |  |  | (1567071) |
|  | (Premiums received $2,583,662) |  |  |  |  |  |
|  | **Total Written Options** |  |  |  |  | (5151275) |
|  | (Premiums received $6,368,939) |  |  |  |  |  |
|  | **Net Other Assets and Liabilities — 5.6%** | **Net Other Assets and Liabilities — 5.6%** | **Net Other Assets and Liabilities — 5.6%** |  |  | 262199557 |
|  | **Net Assets — 100.0%** |  |  |  |  | $4679648696 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures Contracts at January 31, 2023:** | **Futures Contracts at January 31, 2023:** | **Futures Contracts at January 31, 2023:** | **Futures Contracts at January 31, 2023:** | **Futures Contracts at January 31, 2023:** | **Futures Contracts at January 31, 2023:** |
| **Futures Contracts** | **Position** | **Number of Contracts** | **Expiration Date** | **Notional<br> Value** | **Unrealized<br> Appreciation<br> (Depreciation)/<br> Value** |
| U.S. 2-Year Treasury Notes | Long | 325 | Mar-2023 | $66835742 | $(66625) |
| U.S. 5-Year Treasury Notes | Long | 935 | Mar-2023 | 102141446 | (17218) |
| U.S. 10-Year Short Bond Futures | Long | 350 | Mar-2023 | 40080469 | (59086) |
| U.S. Treasury Long Bond Futures | Short | 2280 | Mar-2023 | (296115000) | (5137011) |
| Ultra 10-Year U.S. Treasury Notes | Short | 6823 | Mar-2023 | (826968922) | (15099639) |
| Ultra U.S. Treasury Bond Futures | Short | 1405 | Mar-2023 | (199158750) | (2420154) |
|  |  |  |  | $(1113185015) | $(22799733) |

---

(a) Floating or variable rate security.

(b) Inverse floating rate security.

(c) 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.

(d) Zero coupon security.

(e) Pursuant to procedures adopted by the Trust's Board of Trustees, this security has been determined to be illiquid by First Trust Advisors L.P. (the "Advisor").

---

| |
|:---|
| **First Trust Low Duration Opportunities ETF (LMBS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

(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.

(g) This security's value was determined using significant unobservable inputs (see Valuation Inputs section).

(h) This security is fair valued by the Advisor's Pricing Committee in accordance with procedures adopted by the Trust's Board of Trustees, and in accordance with provisions of the Investment Company Act of 1940, as amended. At January 31, 2023, securities noted as such are valued at $29,341,454 or 0.6% of net assets.

(i) 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 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 January 31, 2023, securities noted as such amounted to $785,607,487 or 16.8% of net assets.

(j) Step-up security. A security where the coupon increases or steps up at a predetermined date.

(k) All or a portion of this security is part of a mortgage dollar roll agreement.

(l) Investment in an affiliated fund.

---

| | |
|:---|:---|
| IO | Interest-Only Security - Principal amount shown represents par value on which interest payments are based |
| LIBOR | London Interbank Offered Rate |
| PO | Principal-Only Security |
| REMIC | Real Estate Mortgage Investment Conduit |
| SOFR | Secured Overnight Financing Rate |
| STRIPS | Separate Trading of Registered Interest and Principal of Securities |
| TBA | To-Be-Announced Security |

---

---

| |
|:---|
| **First Trust Low Duration Opportunities ETF (LMBS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

**Valuation Inputs**

The Fund is subject to fair value accounting standards that define fair value, establish the framework for measuring fair value and provide a three-level hierarchy for fair valuation based upon the inputs to the valuation as of the measurement date. The three levels of the fair value hierarchy are as follows:

&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 <br> 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 <br> assumptions that market participants would use in pricing
the investment.

The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in those investments.

A summary of the inputs used to value the Fund's investments as of January 31, 2023 is as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** |
|  | **Total<br> Value at<br> 1/31/2023** | **Level 1<br> Quoted<br> Prices** | **Level 2<br> Significant<br> Observable<br> Inputs** | **Level 3<br> Significant<br> Unobservable<br> Inputs** |
| U.S. Government Agency Mortgage-Backed Securities | $3658402844 | $— | $3649713288 | $8689556 |
| Mortgage-Backed Securities | 676427945 |  | 676427945 |  |
| U.S. Government Bonds and Notes | 222015082 |  | 222015082 |  |
| Asset-Backed Securities | 201068053 |  | 201068053 |  |
| Exchange-Traded Funds\* | 551731 | 551731 |  |  |
| Total Investments | 4758465655 | 551731 | 4749224368 | 8689556 |
| Put Options Purchased | 25000 | 25000 |  |  |
| Total | $4758490655 | $576731 | $4749224368 | $8689556 |
| **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** |
|  | **Total<br> Value at<br> 1/31/2023** | **Level 1<br> Quoted<br> Prices** | **Level 2<br> Significant<br> Observable<br> Inputs** | **Level 3<br> Significant<br> Unobservable<br> Inputs** |
| U.S. Government Agency Mortgage-Backed Securities Sold Short | $(335890242) | $— | $(335890242) | $— |
| Call Options Written | (3584204) | (3584204) |  |  |
| Put Options Written | (1567071) | (1567071) |  |  |
| Futures Contracts | (22799732) | (22799732) |  |  |
| Total | $(363841249) | $(27951007) | $(335890242) | $— |

---

\* See Portfolio of Investments for industry breakout.

Level 3 investments are fair valued by the Advisor's Pricing Committee and are footnoted in the Portfolio of Investments.

Level 3 investments values are based on unobservable and non-quantitative inputs.

---

| |
|:---|
| **First Trust Low Duration Opportunities ETF (LMBS)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

**Affiliated Transactions**

Amounts relating to investments in affiliated funds at January 31, 2023 and for the fiscal year-to-date period (November 1, 2022 to January 31, 2023) are as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**Security Name** | <br>**Shares at 1/31/2023** | <br>**Value at 10/31/2022** | <br>**Purchases** | **Change in<br> Unrealized <br> Appreciation <br> (Depreciation)** | <br>**Realized Gain (Loss)** | <br>**Value at 1/31/2023** | <br>**Dividend Income** |
| First Trust Long Duration Opportunities ETF | 24359 | $523731 | $– $– $| 28000 | $– $| 551731 | $3654 |

---

---

| |
|:---|
| **First Trust Long Duration Opportunities ETF (LGOV)** |
| **Portfolio of Investments** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** | **Value** |
| **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 49.7%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 49.7%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 49.7%** | **U.S. GOVERNMENT AGENCY MORTGAGE-BACKED SECURITIES — 49.7%** | | |
| | **Collateralized Mortgage Obligations — 16.2%** | **Collateralized Mortgage Obligations — 16.2%** | **Collateralized Mortgage Obligations — 16.2%** | | |
|  | Federal Home Loan Mortgage Corporation |  |  |  |  |
| $1911056 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-5179, Class GZ | 2.00% | 01/25/52 | $| 1138934 |
|  | Federal National Mortgage Association |  |  |  |  |
| 957194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2005-74, Class NZ | 6.00% | 09/25/35 |  | 1082519 |
| 1414220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2013-19, Class ZD | 3.50% | 03/25/43 |  | 1284451 |
|  | Government National Mortgage Association |  |  |  |  |
| 1292000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2010-61, Class KE | 5.00% | 05/16/40 |  | 1350606 |
| 1239529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-164, Class MZ | 3.00% | 09/20/45 |  | 1018341 |
| 391934 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2015-168, Class GI, IO | 5.50% | 02/16/33 |  | 21468 |
|  |  |  |  |  | 5896319 |
|  | **Commercial Mortgage-Backed Securities — 30.9%** |  |  |  |  |
|  | Federal Home Loan Mortgage Corporation Multifamily Structured Pass Through Certificates |  |  |  |  |
| 7227838 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2014-K036, Class X1, IO (a) | 0.68% | 10/25/23 |  | 24942 |
| 1620000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-K154, Class A3 | 3.46% | 11/25/32 |  | 1542667 |
| 650000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-K155, Class A2 | 3.75% | 11/25/32 |  | 636732 |
| 570000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-K157, Class A3 | 3.99% | 08/25/33 |  | 553895 |
| 298000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-K159, Class A2 | 3.95% | 11/25/30 |  | 291970 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2018-K159, Class A3 | 3.95% | 11/25/33 |  | 973103 |
| 17408646 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-K1511, Class X1, IO (a) | 0.78% | 03/25/34 |  | 1002717 |
| 485000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-K1512, Class A3 | 3.06% | 04/25/34 |  | 434524 |
| 1936000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2019-K095, Class XAM, IO (a) | 1.24% | 06/25/29 |  | 129773 |
| 9553897 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-K111, Class XAM, IO (a) | 1.80% | 05/25/30 |  | 1024721 |
| 6850000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-K120, Class XAM, IO (a) | 1.21% | 10/25/30 |  | 522179 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-K1515, Class A2 | 1.94% | 02/25/35 |  | 783901 |
| 1990340 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-K1515, Class X1, IO (a) | 1.51% | 02/25/35 |  | 235018 |
| 1600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-K1521, Class A2 | 2.18% | 08/25/36 |  | 1261014 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-K1522, Class A2 | 2.36% | 10/25/36 |  | 795205 |
|  | Government National Mortgage Association |  |  |  |  |
| 878406 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-159, Class Z (b) | 2.50% | 10/16/62 |  | 406157 |
| 485578 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2020-197, Class Z (a) | 2.25% | 10/16/62 |  | 198660 |
| 210482 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-4, Class Z (a) | 2.00% | 09/16/62 |  | 75137 |
| 905436 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series 2021-28, Class Z (a) | 2.00% | 10/16/62 |  | 351780 |
|  |  |  |  |  | 11244095 |
|  | **Pass-through Securities — 2.6%** |  |  |  |  |
|  | Federal National Mortgage Association |  |  |  |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool TBA | 3.50% | 02/15/53 |  | 938065 |
|  | **Total U.S. Government Agency Mortgage-Backed Securities** | **Total U.S. Government Agency Mortgage-Backed Securities** | **Total U.S. Government Agency Mortgage-Backed Securities** |  | 18078479 |
|  | (Cost $19,937,534) |  |  |  |  |
| **U.S. GOVERNMENT BONDS AND NOTES — 18.9%** | **U.S. GOVERNMENT BONDS AND NOTES — 18.9%** | **U.S. GOVERNMENT BONDS AND NOTES — 18.9%** | **U.S. GOVERNMENT BONDS AND NOTES — 18.9%** | **U.S. GOVERNMENT BONDS AND NOTES — 18.9%** | **U.S. GOVERNMENT BONDS AND NOTES — 18.9%** |
| 2000000 | U.S. Treasury Bond | 3.25% | 05/15/42 |  | 1856250 |
| 2000000 | U.S. Treasury Bond | 3.38% | 08/15/42 |  | 1891406 |
| 2000000 | U.S. Treasury Bond | 4.00% | 11/15/42 |  | 2067188 |
| 1000000 | U.S. Treasury Bond | 4.00% | 11/15/52 |  | 1069531 |
|  | **Total U.S. Government Bonds and Notes** |  |  |  | 6884375 |
|  | (Cost $6,820,737) |  |  |  |  |

---

---

| |
|:---|
| **First Trust Long Duration Opportunities ETF (LGOV)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **MONEY MARKET FUNDS — 35.6%** | **MONEY MARKET FUNDS — 35.6%** | **MONEY MARKET FUNDS — 35.6%** |
| 12973530 | Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class - 4.12% (c) | $12973530 |
|  | (Cost $12,973,530) |  |
|  | **Total Investments — 104.2%** | 37936384 |
|  | (Cost $39,731,801) |  |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Number of<br> Contracts** | **Description** | **Notional<br> Amount** | **Exercise<br> Price** | **Expiration<br> Date** | **Value** |
| **PURCHASED OPTIONS — 0.3%** | **PURCHASED OPTIONS — 0.3%** | **PURCHASED OPTIONS — 0.3%** | **PURCHASED OPTIONS — 0.3%** | **PURCHASED OPTIONS — 0.3%** | |
| **CALL OPTIONS PURCHASED — 0.1%** | **CALL OPTIONS PURCHASED — 0.1%** | **CALL OPTIONS PURCHASED — 0.1%** | **CALL OPTIONS PURCHASED — 0.1%** | **CALL OPTIONS PURCHASED — 0.1%** | **CALL OPTIONS PURCHASED — 0.1%** |
| 10 | CME 3 Month SOFR Futures Call | $2381500 | $94.50 | 09/15/23 | 19250 |
| 10 | CME 3 Month SOFR Futures Call | 2381500 | 95.50 | 09/15/23 | 3500 |
| 15 | U.S. 2-Year Treasury Futures Call | 1542363 | 103.00 | 02/24/23 | 4453 |
| 10 | U.S. 5-Year Treasury Futures Call | 1097344 | 109.25 | 05/26/23 | 13672 |
|  | **Total Call Options Purchased** |  |  |  | 40875 |
|  | (Cost $43,821) |  |  |  |  |
| **PUT OPTIONS PURCHASED — 0.2%** | **PUT OPTIONS PURCHASED — 0.2%** | **PUT OPTIONS PURCHASED — 0.2%** | **PUT OPTIONS PURCHASED — 0.2%** | **PUT OPTIONS PURCHASED — 0.2%** | **PUT OPTIONS PURCHASED — 0.2%** |
| 5 | U.S. 5-Year Treasury Futures Put | 546211 | 109.25 | 02/24/23 | 2696 |
| 15 | U.S. 5-Year Treasury Futures Put | 1646016 | 109.25 | 03/24/23 | 8320 |
| 10 | U.S. 10-Year Treasury Futures Put | 1145156 | 113.50 | 02/24/23 | 3906 |
| 10 | U.S. 10-Year Treasury Futures Put | 1150781 | 114.00 | 03/24/23 | 6875 |
| 10 | U.S. 10-Year Treasury Futures Put | 1150781 | 114.50 | 05/26/23 | 13750 |
| 10 | U.S. Treasury Long Bond Futures Put | 1298750 | 122.00 | 02/24/23 | 469 |
| 8 | U.S. Treasury Long Bond Futures Put | 1039000 | 125.00 | 02/24/23 | 1625 |
| 5 | U.S. Treasury Long Bond Futures Put | 649375 | 127.00 | 02/24/23 | 2578 |
| 5 | U.S. Treasury Long Bond Futures Put | 649375 | 129.00 | 02/24/23 | 5625 |
| 5 | U.S. Treasury Long Bond Futures Put | 656875 | 131.00 | 03/24/23 | 10780 |
| 5 | U.S. Treasury Long Bond Futures Put | 656875 | 129.00 | 05/26/23 | 12110 |
|  | **Total Put Options Purchased** |  |  |  | 68734 |
|  | (Cost $115,548) |  |  |  |  |
|  | **Total Purchased Options** |  |  |  | 109609 |
|  | (Cost $159,369) |  |  |  |  |
| **CALL OPTIONS WRITTEN — (0.1)%** | **CALL OPTIONS WRITTEN — (0.1)%** | **CALL OPTIONS WRITTEN — (0.1)%** | **CALL OPTIONS WRITTEN — (0.1)%** | **CALL OPTIONS WRITTEN — (0.1)%** | **CALL OPTIONS WRITTEN — (0.1)%** |
| (20) | CME 3 Month SOFR Futures Call | (4763000) | 95.00 | 09/15/23 | (17625) |
|  | (Premiums received $21,697) |  |  |  |  |
|  | **Net Other Assets and Liabilities — (4.4)%** | **Net Other Assets and Liabilities — (4.4)%** |  |  | (1613657) |
|  | **Net Assets — 100.0%** |  |  |  | $36414711 |

---

---

| |
|:---|
| **First Trust Long Duration Opportunities ETF (LGOV)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures Contracts at January 31, 2023:** | **Futures Contracts at January 31, 2023:** | **Futures Contracts at January 31, 2023:** | **Futures Contracts at January 31, 2023:** | **Futures Contracts at January 31, 2023:** | **Futures Contracts at January 31, 2023:** |
| <br>**Futures Contracts** | **Position** | **Number of Contracts** | **Expiration Date** | **Notional<br> Value** | **Unrealized<br> Appreciation<br> (Depreciation)/<br> Value** |
| U.S. 10-Year Treasury Notes | Long | 7 | Mar-2023 | $801609 | $(674) |
| U.S. Treasury Long Bond Futures | Long | 18 | Mar-2023 | 2337750 | (3422) |
| Ultra U.S. Treasury Bond Futures | Long | 44 | Mar-2023 | 6237000 | (1992) |
| Ultra 10-Year U.S. Treasury Notes | Short | 18 | Mar-2023 | (2181656) | 112 |
|  |  |  |  | $7194703 | $(5976) |

---

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

(b) 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.

(c) Rate shown reflects yield as of January 31, 2023.

---

| | |
|:---|:---|
| IO | Interest-Only Security - Principal amount shown represents par value on which interest payments are based |
| SOFR | Secured Overnight Financing Rate |
| TBA | To-Be-Announced Security |

---

---

| |
|:---|
| **First Trust Long Duration Opportunities ETF (LGOV)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

**Valuation Inputs**

The Fund is subject to fair value accounting standards that define fair value, establish the framework for measuring fair value and provide a three-level hierarchy for fair valuation based upon the inputs to the valuation as of the measurement date. The three levels of the fair value hierarchy are as follows:

&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<br>
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.

A summary of the inputs used to value the Fund's investments as of January 31, 2023 is as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** |
|  | **Total<br> Value at<br> 1/31/2023** | **Level 1<br> Quoted<br> Prices** | **Level 2<br> Significant<br> Observable<br> Inputs** | **Level 3<br> Significant<br> Unobservable<br> Inputs** |
| U.S. Government Agency Mortgage-Backed Securities | $18078479 | $— | $18078479 | $— |
| U.S. Government Bonds and Notes | 6884375 |  | 6884375 |  |
| Money Market Funds | 12973530 | 12973530 |  |  |
| Total Investments | 37936384 | 12973530 | 24962854 |  |
| Call Options Purchased | 40875 | 40875 |  |  |
| Put Options Purchased | 68734 | 68734 |  |  |
| Futures Contracts | 112 | 112 |  |  |
| Total | $38046105 | $13083251 | $24962854 | $— |
| **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** |
|  | **Total<br> Value at<br> 1/31/2023** | **Level 1<br> Quoted<br> Prices** | **Level 2<br> Significant<br> Observable<br> Inputs** | **Level 3<br> Significant<br> Unobservable<br> Inputs** |
| Call Options Written | $(17625) | $(17625) | $— | $— |
| Futures Contracts | (6088) | (6088) |  |  |
| Total | $(23713) | $(23713) | $— | $— |

---

---

| |
|:---|
| **FT Cboe Vest S&P 500<sup>®</sup> Dividend Aristocrats Target Income ETF<sup>®</sup> (KNG)** |
| **Portfolio of Investments** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS — 99.6%** | **COMMON STOCKS — 99.6%** | **COMMON STOCKS — 99.6%** |
|  | **Aerospace & Defense — 1.5%** |  |
| 36506 | General Dynamics Corp. (a) | $8508088 |
|  | **Air Freight & Logistics — 3.0%** |  |
| 86742 | C.H. Robinson Worldwide, Inc. | 8688946 |
| 79329 | Expeditors International of Washington, Inc. (a) | 8579431 |
|  |  | 17268377 |
|  | **Beverages — 4.4%** |  |
| 127982 | Brown-Forman Corp., Class B | 8521042 |
| 141953 | Coca-Cola (The) Co. (a) | 8704558 |
| 50356 | PepsiCo, Inc. (a) | 8611883 |
|  |  | 25837483 |
|  | **Biotechnology — 1.5%** |  |
| 58198 | AbbVie, Inc. (a) | 8598754 |
|  | **Building Products — 1.6%** |  |
| 141673 | A.O. Smith Corp. (a) | 9591262 |
|  | **Capital Markets — 4.5%** |  |
| 287180 | Franklin Resources, Inc. (a) | 8960016 |
| 23375 | S&P Global, Inc. (a) | 8764222 |
| 73163 | T. Rowe Price Group, Inc. (a) | 8521295 |
|  |  | 26245533 |
|  | **Chemicals — 8.9%** |  |
| 27431 | Air Products and Chemicals, Inc. (a) | 8791910 |
| 32486 | Albemarle Corp. (a) | 9143185 |
| 55934 | Ecolab, Inc. (a) | 8660261 |
| 26155 | Linde PLC (a) | 8655736 |
| 65628 | PPG Industries, Inc. (a) | 8553953 |
| 34470 | Sherwin-Williams (The) Co. (a) | 8155257 |
|  |  | 51960302 |
|  | **Commercial Services & Supplies — 1.5%** |  |
| 19524 | Cintas Corp. (a) | 8663580 |
|  | **Containers & Packaging — 1.5%** |  |
| 732135 | Amcor PLC (a) | 8829548 |
|  | **Distributors — 1.5%** |  |
| 51954 | Genuine Parts Co. (a) | 8718920 |
|  | **Electric Utilities — 1.3%** |  |
| 102447 | NextEra Energy, Inc. (a) | 7645620 |
|  | **Electrical Equipment — 1.5%** |  |
| 96058 | Emerson Electric Co. (a) | 8666353 |
|  | **Equity Real Estate Investment Trusts — 4.5%** |  |
| 39326 | Essex Property Trust, Inc. (a) | 8890429 |
| 77941 | Federal Realty Investment Trust (a) | 8692760 |

---

---

| |
|:---|
| **FT Cboe Vest S&P 500<sup>®</sup> Dividend Aristocrats Target Income ETF<sup>®</sup> (KNG)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (Continued)** | **COMMON STOCKS (Continued)** | **COMMON STOCKS (Continued)** |
|  | **Equity Real Estate Investment Trusts (Continued)** |  |
| 128096 | Realty Income Corp. (a) | $8688751 |
|  |  | 26271940 |
|  | **Food & Staples Retailing — 4.5%** |  |
| 110041 | Sysco Corp. (a) | 8523776 |
| 239423 | Walgreens Boots Alliance, Inc. (a) | 8825132 |
| 60098 | Walmart, Inc. (a) | 8646299 |
|  |  | 25995207 |
|  | **Food Products — 5.8%** |  |
| 100213 | Archer-Daniels-Midland Co. (a) | 8302647 |
| 192719 | Hormel Foods Corp. (a) | 8732098 |
| 57455 | J.M. Smucker (The) Co. | 8779124 |
| 109355 | McCormick & Co., Inc. (a) | 8214748 |
|  |  | 34028617 |
|  | **Gas Utilities — 1.5%** |  |
| 74839 | Atmos Energy Corp. (a) | 8796576 |
|  | **Health Care Equipment & Supplies — 4.5%** |  |
| 76382 | Abbott Laboratories (a) | 8444030 |
| 34976 | Becton, Dickinson and Co. (a) | 8821647 |
| 106377 | Medtronic PLC (a) | 8902691 |
|  |  | 26168368 |
|  | **Health Care Providers & Services — 1.5%** |  |
| 114833 | Cardinal Health, Inc. (a) | 8870849 |
|  | **Hotels, Restaurants & Leisure — 1.5%** |  |
| 31886 | McDonald's Corp. (a) | 8526316 |
|  | **Household Products — 7.3%** |  |
| 103908 | Church & Dwight Co., Inc. (a) | 8402001 |
| 60968 | Clorox (The) Co. (a) | 8821460 |
| 113185 | Colgate-Palmolive Co. (a) | 8435678 |
| 63843 | Kimberly-Clark Corp. (a) | 8300228 |
| 60607 | Procter & Gamble (The) Co. (a) | 8629225 |
|  |  | 42588592 |
|  | **Industrial Conglomerates — 1.5%** |  |
| 74741 | 3M Co. (a) | 8601194 |
|  | **Insurance — 6.0%** |  |
| 118067 | Aflac, Inc. (a) | 8677925 |
| 146402 | Brown & Brown, Inc. (a) | 8573301 |
| 37641 | Chubb Ltd. (a) | 8562951 |
| 81472 | Cincinnati Financial Corp. (a) | 9218557 |
|  |  | 35032734 |
|  | **IT Services — 2.8%** |  |
| 35941 | Automatic Data Processing, Inc. (a) | 8115837 |
| 60748 | International Business Machines Corp. (a) | 8184578 |
|  |  | 16300415 |

---

---

| |
|:---|
| **FT Cboe Vest S&P 500<sup>®</sup> Dividend Aristocrats Target Income ETF<sup>®</sup> (KNG)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | |
|:---|:---|:---|:---|
| **Shares** | **Description** | **Value** | **Value** |
| **COMMON STOCKS (Continued)** | **COMMON STOCKS (Continued)** | **COMMON STOCKS (Continued)** | **COMMON STOCKS (Continued)** |
|  | **Life Sciences Tools & Services — 1.5%** |  |  |
| 33272 | West Pharmaceutical Services, Inc. (a) | $| 8837043 |
|  | **Machinery — 9.1%** |  |  |
| 33366 | Caterpillar, Inc. (a) |  | 8417908 |
| 60019 | Dover Corp. (a) |  | 9112685 |
| 37476 | Illinois Tool Works, Inc. (a) |  | 8845835 |
| 35452 | Nordson Corp. |  | 8625472 |
| 170609 | Pentair PLC (a) |  | 9448326 |
| 98086 | Stanley Black & Decker, Inc. (a) |  | 8760061 |
|  |  |  | 53210287 |
|  | **Metals & Mining — 1.6%** |  |  |
| 55803 | Nucor Corp. (a) |  | 9431823 |
|  | **Multiline Retail — 1.6%** |  |  |
| 52554 | Target Corp. (a) |  | 9046646 |
|  | **Multi-Utilities — 1.5%** |  |  |
| 91391 | Consolidated Edison, Inc. (a) |  | 8710476 |
|  | **Oil, Gas & Consumable Fuels — 2.9%** |  |  |
| 47533 | Chevron Corp. (a) |  | 8271693 |
| 75523 | Exxon Mobil Corp. (a) |  | 8761423 |
|  |  |  | 17033116 |
|  | **Pharmaceuticals — 1.4%** |  |  |
| 51069 | Johnson & Johnson (a) |  | 8345696 |
|  | **Software — 1.4%** |  |  |
| 19264 | Roper Technologies, Inc. (a) |  | 8220912 |
|  | **Specialty Retail — 1.5%** |  |  |
| 41642 | Lowe's Cos., Inc. (a) |  | 8671947 |
|  | **Textiles, Apparel & Luxury Goods — 1.5%** |  |  |
| 284047 | VF Corp. (a) |  | 8788414 |
|  | **Trading Companies & Distributors — 1.5%** |  |  |
| 15058 | W.W. Grainger, Inc. (a) |  | 8876390 |
|  | **Total Common Stocks** |  | 580887378 |
|  | (Cost $557,600,181) |  |  |
| **MONEY MARKET FUNDS — 0.6%** | **MONEY MARKET FUNDS — 0.6%** | **MONEY MARKET FUNDS — 0.6%** | **MONEY MARKET FUNDS — 0.6%** |
| 3256068 | Dreyfus Government Cash Management Fund, Institutional Shares - 4.23% (b) |  | 3256068 |
|  | (Cost $3,256,068) |  |  |
|  | **Total Investments — 100.2%** |  | 584143446 |
|  | (Cost $560,856,249) |  |  |

---

---

| |
|:---|
| **FT Cboe Vest S&P 500<sup>®</sup> Dividend Aristocrats Target Income ETF<sup>®</sup> (KNG)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Number of<br> Contracts** | **Description** | **Notional<br> Amount** | **Exercise<br> Price** | **Expiration<br> Date** | **Value** |
| **CALL OPTIONS WRITTEN — (0.3)%** | **CALL OPTIONS WRITTEN — (0.3)%** | **CALL OPTIONS WRITTEN — (0.3)%** | **CALL OPTIONS WRITTEN — (0.3)%** | **CALL OPTIONS WRITTEN — (0.3)%** | **CALL OPTIONS WRITTEN — (0.3)%** |
| (39) | 3M Co. | $(448812) | $120.00 | 02/17/23 | $(2418) |
| (163) | A.O. Smith Corp. | (1103510) | 60.00 | 02/17/23 | (111655) |
| (79) | Abbott Laboratories | (873345) | 115.00 | 02/17/23 | (3634) |
| (37) | AbbVie, Inc. | (546675) | 150.00 | 02/17/23 | (10064) |
| (77) | Aflac, Inc. | (565950) | 70.00 | 02/17/23 | (29106) |
| (16) | Air Products and Chemicals, Inc. | (512816) | 300.00 | 02/17/23 | (36800) |
| (11) | Albemarle Corp. | (309595) | 250.00 | 02/17/23 | (38060) |
| (1035) | Amcor PLC | (1248210) | 12.00 | 02/17/23 | (26910) |
| (58) | Archer-Daniels-Midland Co. | (480530) | 85.00 | 02/17/23 | (4640) |
| (157) | Atmos Energy Corp. | (1845378) | 115.00 | 02/17/23 | (41605) |
| (26) | Automatic Data Processing, Inc. | (587106) | 240.00 | 02/17/23 | (1690) |
| (20) | Becton, Dickinson and Co. | (504440) | 250.00 | 02/17/23 | (15000) |
| (64) | Brown & Brown, Inc. | (374784) | 60.00 | 02/17/23 | (2368) |
| (51) | Cardinal Health, Inc. | (393975) | 75.00 | 02/17/23 | (16830) |
| (22) | Caterpillar, Inc. | (555038) | 250.00 | 02/17/23 | (17160) |
| (27) | Chevron Corp. | (469854) | 180.00 | 02/17/23 | (3969) |
| (29) | Chubb Ltd. | (659721) | 220.00 | 02/17/23 | (29435) |
| (127) | Church & Dwight Co., Inc. | (1026922) | 85.00 | 02/17/23 | (6731) |
| (31) | Cincinnati Financial Corp. | (350765) | 100.00 | 02/17/23 | (42780) |
| (18) | Cintas Corp. | (798732) | 440.00 | 02/17/23 | (19800) |
| (27) | Clorox (The) Co. | (390663) | 140.00 | 02/17/23 | (20115) |
| (112) | Coca-Cola (The) Co. | (686784) | 60.00 | 02/17/23 | (22624) |
| (79) | Colgate-Palmolive Co. | (588787) | 75.00 | 02/17/23 | (7110) |
| (71) | Consolidated Edison, Inc. | (676701) | 92.50 | 02/17/23 | (20945) |
| (44) | Dover Corp. | (668052) | 140.00 | 02/17/23 | (53636) |
| (25) | Ecolab, Inc. | (387075) | 150.00 | 02/17/23 | (14000) |
| (58) | Emerson Electric Co. | (523276) | 87.50 | 02/17/23 | (23780) |
| (41) | Essex Property Trust, Inc. | (926887) | 220.00 | 02/17/23 | (32390) |
| (41) | Expeditors International of Washington, Inc. | (443415) | 105.00 | 02/17/23 | (18860) |
| (65) | Exxon Mobil Corp. | (754065) | 115.00 | 02/17/23 | (20150) |
| (81) | Federal Realty Investment Trust | (903393) | 105.00 | 02/17/23 | (59535) |
| (177) | Franklin Resources, Inc. | (552240) | 30.00 | 02/17/23 | (29205) |
| (18) | General Dynamics Corp. | (419508) | 230.00 | 02/17/23 | (9540) |
| (27) | Genuine Parts Co. | (453114) | 160.00 | 02/17/23 | (24840) |
| (121) | Hormel Foods Corp. | (548251) | 44.00 | 02/17/23 | (20570) |
| (40) | Illinois Tool Works, Inc. | (944160) | 230.00 | 02/17/23 | (38600) |
| (33) | International Business Machines Corp. | (444609) | 140.00 | 02/17/23 | (1023) |
| (55) | Johnson & Johnson | (898810) | 170.00 | 02/17/23 | (1815) |
| (48) | Kimberly-Clark Corp. | (624048) | 135.00 | 02/17/23 | (1824) |
| (21) | Linde PLC | (694974) | 330.00 | 02/17/23 | (16422) |
| (19) | Lowe's Cos., Inc. | (395675) | 200.00 | 02/17/23 | (18240) |
| (41) | McCormick & Co., Inc. | (307992) | 75.00 | 02/17/23 | (5740) |
| (30) | McDonald's Corp. | (802200) | 270.00 | 02/17/23 | (9900) |
| (54) | Medtronic PLC | (451926) | 80.00 | 02/17/23 | (21600) |
| (73) | NextEra Energy, Inc. | (544799) | 82.50 | 02/17/23 | (657) |

---

---

| |
|:---|
| **FT Cboe Vest S&P 500<sup>®</sup> Dividend Aristocrats Target Income ETF<sup>®</sup> (KNG)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Number of<br> Contracts** | **Description** | **Notional<br> Amount** | **Notional<br> Amount** | **Exercise<br> Price** | **Expiration<br> Date** | **Value** |
| **CALL OPTIONS WRITTEN (Continued)** | **CALL OPTIONS WRITTEN (Continued)** | **CALL OPTIONS WRITTEN (Continued)** | **CALL OPTIONS WRITTEN (Continued)** | **CALL OPTIONS WRITTEN (Continued)** | **CALL OPTIONS WRITTEN (Continued)** | **CALL OPTIONS WRITTEN (Continued)** |
| (30) | Nucor Corp. | $| (507060) | $155.00 | 02/17/23 | $(41940) |
| (142) | Pentair PLC |  | (786396) | 50.00 | 02/17/23 | (66030) |
| (37) | PepsiCo, Inc. |  | (632774) | 170.00 | 02/17/23 | (14060) |
| (38) | PPG Industries, Inc. |  | (495292) | 130.00 | 02/17/23 | (13110) |
| (82) | Procter & Gamble (The) Co. |  | (1167516) | 145.00 | 02/17/23 | (8938) |
| (87) | Realty Income Corp. |  | (590121) | 65.00 | 02/17/23 | (27927) |
| (13) | Roper Technologies, Inc. |  | (554775) | 440.00 | 02/17/23 | (3458) |
| (18) | S&P Global, Inc. |  | (674892) | 370.00 | 02/17/23 | (24210) |
| (14) | Sherwin-Williams (The) Co. |  | (331226) | 240.00 | 02/17/23 | (6720) |
| (38) | Stanley Black & Decker, Inc. |  | (339378) | 85.00 | 02/17/23 | (22800) |
| (108) | Sysco Corp. |  | (836568) | 80.00 | 02/17/23 | (6048) |
| (46) | T. Rowe Price Group, Inc. |  | (535762) | 120.00 | 02/17/23 | (8050) |
| (25) | Target Corp. |  | (430350) | 160.00 | 02/17/23 | (32475) |
| (129) | VF Corp. |  | (399126) | 30.00 | 02/17/23 | (25155) |
| (9) | W.W. Grainger, Inc. |  | (530532) | 560.00 | 02/17/23 | (31050) |
| (105) | Walgreens Boots Alliance, Inc. |  | (387030) | 35.00 | 02/17/23 | (19425) |
| (48) | Walmart, Inc. |  | (690576) | 140.00 | 02/17/23 | (24480) |
| (17) | West Pharmaceutical Services, Inc. |  | (451520) | 260.00 | 02/17/23 | (21896) |
|  | **Total Call Options Written** |  |  |  |  | (1351548) |
|  | (Premiums received $1,039,465) |  |  |  |  |  |
|  | **Net Other Assets and Liabilities — 0.1%** | **Net Other Assets and Liabilities — 0.1%** | **Net Other Assets and Liabilities — 0.1%** |  |  | 347173 |
|  | **Net Assets — 100.0%** |  |  |  |  | $583139071 |

---

(a) All or a portion of this security is held as collateral for the options
 written. At January 31, 2023, the value of these securities amounts to $39,028,456.

(b) Rate shown reflects yield as of January 31, 2023.

---

| |
|:---|
| **FT Cboe Vest S&P 500<sup>®</sup> Dividend Aristocrats Target Income ETF<sup>®</sup> (KNG)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

**Valuation Inputs**

The Fund is subject to fair value accounting standards that define fair value, establish the framework for measuring fair value and provide a three-level hierarchy for fair valuation based upon the inputs to the valuation as of the measurement date. The three levels of the fair value hierarchy are as follows:

&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.

A summary of the inputs used to value the Fund's investments as of January 31, 2023 is as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** |
|  | **Total<br> Value at<br> 1/31/2023** | **Level 1<br> Quoted<br> Prices** | **Level 2<br> Significant<br> Observable<br> Inputs** | **Level 3<br> Significant<br> Unobservable<br> Inputs** |
| Common Stocks\* | $580887378 | $580887378 | $— | $— |
| Money Market Funds | 3256068 | 3256068 |  |  |
| Total Investments | $584143446 | $584143446 | $— | $— |
| **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** |
|  | **Total<br> Value at<br> 1/31/2023** | **Level 1<br> Quoted<br> Prices** | **Level 2<br> Significant<br> Observable<br> Inputs** | **Level 3<br> Significant<br> Unobservable<br> Inputs** |
| Call Options Written | $(1351548) | $(1351548) | $— | $— |

---

\* See Portfolio of Investments for industry breakout.

---

| |
|:---|
| **First Trust Limited Duration Investment Grade Corporate ETF (FSIG)** |
| **Portfolio of Investments** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **CORPORATE BONDS AND NOTES — 67.6%** | **CORPORATE BONDS AND NOTES — 67.6%** | **CORPORATE BONDS AND NOTES — 67.6%** | **CORPORATE BONDS AND NOTES — 67.6%** | |
| | **Aerospace/Defense — 2.4%** | **Aerospace/Defense — 2.4%** | **Aerospace/Defense — 2.4%** | |
| $50000 | L3Harris Technologies, Inc. | 3.85% | 06/15/23 | $49783 |
| 40000 | L3Harris Technologies, Inc. | 3.85% | 12/15/26 | 38929 |
| 2250000 | Lockheed Martin Corp. | 4.95% | 10/15/25 | 2285984 |
| 1300000 | Lockheed Martin Corp. | 5.10% | 11/15/27 | 1349984 |
| 5800000 | Northrop Grumman Corp. | 2.93% | 01/15/25 | 5612558 |
|  |  |  |  | 9337238 |
|  | **Banking — 16.3%** |  |  |  |
| 6750000 | Bank of America Corp. (a) | 5.08% | 01/20/27 | 6777458 |
| 145000 | Bank of America Corp., Medium-Term Note | 4.13% | 01/22/24 | 144040 |
| 2750000 | Bank of America Corp., Medium-Term Note | 3.88% | 08/01/25 | 2710640 |
| 5250000 | Bank of America Corp., Medium-Term Note | 3.50% | 04/19/26 | 5110699 |
| 5150000 | Bank of New York Mellon (The) Corp. (a) | 4.41% | 07/24/26 | 5115946 |
| 125000 | Bank of New York Mellon (The) Corp., Medium-Term Note (a) | 3.43% | 06/13/25 | 122904 |
| 3000000 | Goldman Sachs Group (The), Inc. | 5.70% | 11/01/24 | 3045049 |
| 3400000 | Goldman Sachs Group (The), Inc. | 3.00% | 03/15/24 | 3333192 |
| 7800000 | JPMorgan Chase & Co. | 3.90% | 07/15/25 | 7681424 |
| 5750000 | JPMorgan Chase & Co. | 3.30% | 04/01/26 | 5550801 |
| 2000000 | Morgan Stanley (a) | 5.05% | 01/28/27 | 2007742 |
| 5250000 | Morgan Stanley, Medium-Term Note | 4.00% | 07/23/25 | 5169220 |
| 2750000 | PNC Financial Services Group (The), Inc. (a) | 4.76% | 01/26/27 | 2755511 |
| 484000 | State Street Corp. (a) | 4.86% | 01/26/26 | 485895 |
| 4000000 | Truist Financial Corp., Medium-Term Note (a) | 4.87% | 01/26/29 | 4024457 |
| 3000000 | US Bancorp (a) | 5.73% | 10/21/26 | 3083474 |
| 3000000 | US Bancorp (a) | 4.65% | 02/01/29 | 2999833 |
| 2750000 | Wells Fargo & Co., Medium-Term Note | 3.55% | 09/29/25 | 2672983 |
| 1250000 | Wells Fargo & Co., Medium-Term Note (a) | 2.41% | 10/30/25 | 1193764 |
|  |  |  |  | 63985032 |
|  | **Cable Satellite — 3.0%** |  |  |  |
| 150000 | Comcast Corp. | 3.95% | 10/15/25 | 147923 |
| 10000000 | Comcast Corp. | 5.25% | 11/07/25 | 10219567 |
| 1250000 | Comcast Corp. | 5.35% | 11/15/27 | 1303009 |
|  |  |  |  | 11670499 |
|  | **Construction Machinery — 2.1%** |  |  |  |
| 4000000 | Caterpillar Financial Services Corp. | 4.80% | 01/06/26 | 4054775 |
| 100000 | John Deere Capital Corp., Medium-Term Note | 4.05% | 09/08/25 | 99141 |
| 4000000 | John Deere Capital Corp., Medium-Term Note | 4.80% | 01/09/26 | 4053366 |
|  |  |  |  | 8207282 |
|  | **Consumer Cyclical Services — 0.1%** |  |  |  |
| 300000 | Expedia Group, Inc. (b) | 6.25% | 05/01/25 | 304919 |
|  | **Diversified Manufacturing — 0.7%** |  |  |  |
| 3000000 | Roper Technologies, Inc. | 3.80% | 12/15/26 | 2913207 |
|  | **Electric — 1.9%** |  |  |  |
| 3800000 | AEP Transmission Co. LLC | 3.10% | 12/01/26 | 3608841 |
| 100000 | Duke Energy Carolinas LLC | 2.95% | 12/01/26 | 95541 |
| 425000 | FirstEnergy Transmission LLC (b) | 4.35% | 01/15/25 | 416489 |
| 125000 | Pacific Gas and Electric Co. | 3.25% | 02/16/24 | 122717 |
| 25000 | Pacific Gas and Electric Co. | 4.95% | 06/08/25 | 24761 |
| 25000 | Pacific Gas and Electric Co. | 5.45% | 06/15/27 | 25116 |
| 1550000 | Virginia Electric and Power Co., Series A | 3.10% | 05/15/25 | 1497185 |

---

---

| |
|:---|
| **First Trust Limited Duration Investment Grade Corporate ETF (FSIG)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **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)** |
|  | **Electric (Continued)** |  |  |  |
| $1550000 | Virginia Electric and Power Co., Series B | 3.75% | 05/15/27 | $1512195 |
| 150000 | WEC Energy Group, Inc. | 5.00% | 09/27/25 | 150859 |
|  |  |  |  | 7453704 |
|  | **Environmental — 3.8%** |  |  |  |
| 5250000 | Republic Services, Inc. | 3.20% | 03/15/25 | 5073011 |
| 1550000 | Republic Services, Inc. | 2.90% | 07/01/26 | 1467710 |
| 4937000 | Waste Management, Inc. | 3.50% | 05/15/24 | 4853636 |
| 3621000 | Waste Management, Inc. | 3.13% | 03/01/25 | 3511863 |
|  |  |  |  | 14906220 |
|  | **Food and Beverage — 4.5%** |  |  |  |
| 7000000 | Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide, Inc. | 3.65% | 02/01/26 | 6843803 |
| 3000000 | Conagra Brands, Inc. | 4.30% | 05/01/24 | 2969703 |
| 6500000 | Constellation Brands, Inc. | 4.75% | 12/01/25 | 6502644 |
| 421000 | Constellation Brands, Inc. | 5.00% | 02/02/26 | 421475 |
| 1000000 | Constellation Brands, Inc. | 4.35% | 05/09/27 | 989067 |
|  |  |  |  | 17726692 |
|  | **Gaming — 0.0%** |  |  |  |
| 100000 | VICI Properties, L.P. / VICI Note Co., Inc. (b) | 3.50% | 02/15/25 | 95278 |
| 50000 | VICI Properties, L.P. / VICI Note Co., Inc. (b) | 4.63% | 06/15/25 | 48448 |
| 75000 | VICI Properties, L.P. / VICI Note Co., Inc. (b) | 4.25% | 12/01/26 | 70878 |
|  |  |  |  | 214604 |
|  | **Health Insurance — 5.9%** |  |  |  |
| 3549000 | Aetna, Inc. | 3.50% | 11/15/24 | 3470711 |
| 325000 | Centene Corp. | 4.25% | 12/15/27 | 312149 |
| 3550000 | Elevance Health, Inc. | 3.35% | 12/01/24 | 3469052 |
| 5000000 | Elevance Health, Inc. | 5.35% | 10/15/25 | 5082589 |
| 333000 | Elevance Health, Inc. | 4.90% | 02/08/26 | 333354 |
| 4500000 | Humana, Inc. | 4.50% | 04/01/25 | 4486601 |
| 625000 | UnitedHealth Group, Inc. | 5.00% | 10/15/24 | 631513 |
| 3750000 | UnitedHealth Group, Inc. | 3.75% | 07/15/25 | 3700415 |
| 1550000 | UnitedHealth Group, Inc. | 5.25% | 02/15/28 | 1616562 |
|  |  |  |  | 23102946 |
|  | **Healthcare — 6.6%** |  |  |  |
| 125000 | Abbott Laboratories | 3.75% | 11/30/26 | 123467 |
| 2250000 | Alcon Finance Corp. (b) | 2.75% | 09/23/26 | 2093191 |
| 100000 | AmerisourceBergen Corp. | 3.40% | 05/15/24 | 98070 |
| 1550000 | Baxter International, Inc. | 1.32% | 11/29/24 | 1455624 |
| 3500000 | Becton Dickinson and Co. | 3.73% | 12/15/24 | 3438791 |
| 5250000 | Cigna Corp. | 4.13% | 11/15/25 | 5193600 |
| 1550000 | CVS Health Corp. | 3.88% | 07/20/25 | 1519268 |
| 4835000 | Danaher Corp. | 3.35% | 09/15/25 | 4709626 |
| 200000 | HCA, Inc. | 5.88% | 02/15/26 | 203658 |
| 1550000 | McKesson Corp. | 3.80% | 03/15/24 | 1530073 |
| 800000 | Stryker Corp. | 3.38% | 11/01/25 | 775405 |
| 1550000 | Thermo Fisher Scientific, Inc. | 4.80% | 11/21/27 | 1592343 |
| 3400000 | Zimmer Biomet Holdings, Inc. | 1.45% | 11/22/24 | 3207390 |
|  |  |  |  | 25940506 |

---

---

| |
|:---|
| **First Trust Limited Duration Investment Grade Corporate ETF (FSIG)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **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 — 0.1%** |  |  |  |
| $50000 | Hilton Domestic Operating Co., Inc. (b) | 5.38% | 05/01/25 | $49779 |
| 435000 | Hyatt Hotels Corp. | 5.63% | 04/23/25 | 439252 |
|  |  |  |  | 489031 |
|  | **Midstream — 0.3%** |  |  |  |
| 50000 | Energy Transfer, L.P. | 5.88% | 01/15/24 | 50227 |
| 75000 | Energy Transfer, L.P. | 2.90% | 05/15/25 | 71587 |
| 1250000 | Enterprise Products Operating LLC | 5.05% | 01/10/26 | 1268614 |
|  |  |  |  | 1390428 |
|  | **Other Utility — 0.3%** |  |  |  |
| 1200000 | American Water Capital Corp. | 3.85% | 03/01/24 | 1184656 |
|  | **Pharmaceuticals — 5.0%** |  |  |  |
| 2700000 | AbbVie, Inc. | 2.60% | 11/21/24 | 2602957 |
| 1550000 | AbbVie, Inc. | 3.20% | 05/14/26 | 1488911 |
| 3000000 | Amgen, Inc. | 3.63% | 05/22/24 | 2953069 |
| 1500000 | Bayer US Finance II LLC (b) | 3.88% | 12/15/23 | 1481257 |
| 2650000 | Gilead Sciences, Inc. | 3.70% | 04/01/24 | 2616509 |
| 5750000 | Merck & Co., Inc. | 2.75% | 02/10/25 | 5572141 |
| 2250000 | Roche Holdings, Inc. (b) | 2.63% | 05/15/26 | 2131014 |
| 300000 | Zoetis, Inc. | 4.50% | 11/13/25 | 299314 |
| 600000 | Zoetis, Inc. | 5.40% | 11/14/25 | 613694 |
|  |  |  |  | 19758866 |
|  | **Property & Casualty Insurance — 2.7%** |  |  |  |
| 1900000 | Brown & Brown, Inc. | 4.20% | 09/15/24 | 1873904 |
| 7185000 | Marsh & McLennan Cos., Inc. | 3.88% | 03/15/24 | 7107284 |
| 1650000 | Marsh & McLennan Cos., Inc. | 3.75% | 03/14/26 | 1618931 |
|  |  |  |  | 10600119 |
|  | **Retailers — 0.0%** |  |  |  |
| 109000 | Nordstrom, Inc. | 2.30% | 04/08/24 | 103576 |
|  | **Technology — 7.1%** |  |  |  |
| 5000000 | Autodesk, Inc. | 4.38% | 06/15/25 | 4968617 |
| 500000 | Cadence Design Systems, Inc. | 4.38% | 10/15/24 | 498702 |
| 1550000 | Fidelity National Information Services, Inc. | 4.50% | 07/15/25 | 1534823 |
| 50000 | Global Payments, Inc. | 4.00% | 06/01/23 | 49789 |
| 1550000 | Global Payments, Inc. | 1.50% | 11/15/24 | 1453432 |
| 1550000 | Infor, Inc. (b) | 1.75% | 07/15/25 | 1412378 |
| 8250000 | Microsoft Corp. | 2.70% | 02/12/25 | 8018919 |
| 6000000 | Oracle Corp. | 5.80% | 11/10/25 | 6170756 |
| 775000 | Oracle Corp. | 3.25% | 11/15/27 | 729912 |
| 1550000 | VMware, Inc. | 4.50% | 05/15/25 | 1530087 |
| 1550000 | Workday, Inc. | 3.50% | 04/01/27 | 1484191 |
|  |  |  |  | 27851606 |
|  | **Wireless — 4.0%** |  |  |  |
| 8410000 | Crown Castle, Inc. | 3.15% | 07/15/23 | 8346927 |
| 5750000 | T-Mobile USA, Inc. | 3.50% | 04/15/25 | 5585897 |
| 200000 | T-Mobile USA, Inc. | 5.38% | 04/15/27 | 200840 |
| 1500000 | T-Mobile USA, Inc. | 4.75% | 02/01/28 | 1487543 |
|  |  |  |  | 15621207 |

---

---

| |
|:---|
| **First Trust Limited Duration Investment Grade Corporate ETF (FSIG)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **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)** |
|  | **Wirelines — 0.8%** |  |  |  |
| $1550000 | Verizon Communications, Inc. | 3.50% | 11/01/24 | $1519522 |
| 1550000 | Verizon Communications, Inc. | 4.13% | 03/16/27 | 1531646 |
|  |  |  |  | 3051168 |
|  | **Total Corporate Bonds and Notes** |  |  | 265813506 |
|  | (Cost $264,251,843) |  |  |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Annualized<br> Yield on<br> Date<br> of Purchase** | **Stated<br> Maturity** | **Value** |
| **COMMERCIAL PAPER — 17.6%** | **COMMERCIAL PAPER — 17.6%** | **COMMERCIAL PAPER — 17.6%** | **COMMERCIAL PAPER — 17.6%** | **COMMERCIAL PAPER — 17.6%** |
|  | **Chemicals — 4.1%** |  |  |  |
| 8000000 | Cabot Corp. | 4.61% | 02/01/23 | 8000000 |
| 8000000 | FMC Corp. | 4.92% | 02/01/23 | 8000000 |
|  |  |  |  | 16000000 |
|  | **Electric — 8.7%** |  |  |  |
| 8000000 | CenterPoint Energy, Inc. | 4.56% | 02/01/23 | 8000000 |
| 8000000 | DTE Energy Co. | 4.51% | 02/01/23 | 8000000 |
| 8000000 | Duke Energy Corp. | 4.54% | 02/01/23 | 8000000 |
| 2000000 | Northern States Power Co. | 4.56% | 02/01/23 | 2000000 |
| 8000000 | Southern California Edison Co. | 4.72% | 02/01/23 | 8000000 |
|  |  |  |  | 34000000 |
|  | **Health Insurance — 0.8%** |  |  |  |
| 3000000 | Elevance Health, Inc. | 4.56% | 02/01/23 | 3000000 |
|  | **Midstream — 2.5%** |  |  |  |
| 2000000 | Energy Transfer, L.P. | 5.00% | 02/01/23 | 2000000 |
| 8000000 | Plains All American Pipeline, L.P. | 4.92% | 02/01/23 | 8000000 |
|  |  |  |  | 10000000 |
|  | **Technology — 1.5%** |  |  |  |
| 6000000 | Flex Ltd. | 5.02% | 02/01/23 | 6000000 |
|  | **Total Commercial Paper** |  |  | 69000000 |
|  | (Cost $69,000,000) |  |  |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **Value** |
| **FOREIGN CORPORATE BONDS AND NOTES — 7.9%** | **FOREIGN CORPORATE BONDS AND NOTES — 7.9%** | **FOREIGN CORPORATE BONDS AND NOTES — 7.9%** | **FOREIGN CORPORATE BONDS AND NOTES — 7.9%** | **FOREIGN CORPORATE BONDS AND NOTES — 7.9%** |
|  | **Banking — 4.2%** |  |  |  |
| 4500000 | Bank of Montreal | 5.20% | 12/12/24 | 4531533 |
| 755000 | Royal Bank of Canada | 3.38% | 04/14/25 | 736362 |
| 5500000 | Royal Bank of Canada, Medium-Term Note | 4.88% | 01/12/26 | 5536298 |
| 4500000 | Toronto-Dominion Bank (The) | 3.77% | 06/06/25 | 4407297 |
| 1550000 | Toronto-Dominion Bank (The), Medium-Term Note | 4.29% | 09/13/24 | 1537774 |
|  |  |  |  | 16749264 |
|  | **Healthcare — 0.7%** |  |  |  |
| 2900000 | DH Europe Finance II Sarl | 2.20% | 11/15/24 | 2785362 |

---

---

| |
|:---|
| **First Trust Limited Duration Investment Grade Corporate ETF (FSIG)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Stated<br> Coupon** | **Stated<br> Maturity** | **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)** |
|  | **Pharmaceuticals — 2.3%** |  |  |  |
| $5250000 | AstraZeneca PLC | 3.38% | 11/16/25 | $5127556 |
| 3881000 | CSL Finance PLC (b) | 3.85% | 04/27/27 | 3771716 |
|  |  |  |  | 8899272 |
|  | **Railroads — 0.7%** |  |  |  |
| 2900000 | Canadian Pacific Railway Co. | 1.35% | 12/02/24 | 2726285 |
|  | **Total Foreign Corporate Bonds and Notes** |  |  | 31160183 |
|  | (Cost $30,967,956) |  |  |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Value** | **Description** | **Rate (c)** | **Stated<br> Maturity (d)** | **Value** |
| **SENIOR FLOATING-RATE LOAN INTERESTS — 4.1%** | **SENIOR FLOATING-RATE LOAN INTERESTS — 4.1%** | **SENIOR FLOATING-RATE LOAN INTERESTS — 4.1%** | **SENIOR FLOATING-RATE LOAN INTERESTS — 4.1%** | **SENIOR FLOATING-RATE LOAN INTERESTS — 4.1%** |
|  | **Cable Satellite — 1.1%** |  |  |  |
| 4530095 | Charter Communications Operating LLC, Term Loan B1, 1 Mo. LIBOR + 1.75%, 0.00% Floor | 6.32% | 04/30/25 | 4528419 |
|  | **Healthcare — 1.3%** |  |  |  |
| 5146796 | IQVIA, Inc. (Quintiles), Term Loan B3, 3 Mo. LIBOR + 1.75%, 0.00% Floor | 6.48% | 06/11/25 | 5150836 |
|  | **Technology — 0.7%** |  |  |  |
| 85128 | SS&C Technologies Holdings, Inc., Term Loan B-3, 1 Mo. LIBOR + 1.75%, 0.00% Floor | 6.32% | 04/16/25 | 85077 |
| 69105 | SS&C Technologies Holdings, Inc., Term Loan B-4, 1 Mo. LIBOR + 1.75%, 0.00% Floor | 6.32% | 04/16/25 | 69064 |
| 2439867 | SS&C Technologies Holdings, Inc., Term Loan B-5, 1 Mo. LIBOR + 1.75%, 0.00% Floor | 6.32% | 04/16/25 | 2438037 |
|  |  |  |  | 2592178 |
|  | **Wireless — 1.0%** |  |  |  |
| 3748042 | SBA Senior Finance II LLC, Term Loan B, 1 Mo. LIBOR + 1.75%, 0.00% Floor | 6.32% | 04/11/25 | 3746974 |
|  | **Total Senior Floating-Rate Loan Interests** |  |  | 16018407 |
|  | (Cost $15,959,422) |  |  |  |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **MONEY MARKET FUNDS — 5.6%** | **MONEY MARKET FUNDS — 5.6%** | **MONEY MARKET FUNDS — 5.6%** |
| 22190243 | Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class - 4.12% (e) | 22190243 |
|  | (Cost $22,190,243) |  |
|  | **Total Investments — 102.8%** | 404182339 |
|  | (Cost $402,369,464) |  |
|  | **Net Other Assets and Liabilities — (2.8)%** | (11156234) |
|  | **Net Assets — 100.0%** | $393026105 |

---

---

| |
|:---|
| **First Trust Limited Duration Investment Grade Corporate ETF (FSIG)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

(a) Fixed-to-floating or fixed-to-variable rate security. The interest rate shown reflects the fixed rate in effect at January 31, 2023. At a predetermined date, the fixed rate will change to a floating rate or a variable rate.

(b) 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 January 31, 2023, securities noted as such amounted to $11,875,347 or 3.0% of net assets.

(c) Senior Floating-Rate Loan Interests ("Senior Loans") in which the Fund invests generally pay interest at rates which are periodically predetermined by reference to a base lending rate plus a premium. These base lending rates are generally (i) the lending rate offered by one or more major European banks, such as the LIBOR, (ii) the SOFR obtained from the U.S. Department of the Treasury's Office of Financial Research, (iii) the prime rate offered by one or more United States banks or (iv) the certificate of deposit rate. Certain Senior Loans are subject to a LIBOR or SOFR floor that establishes a minimum LIBOR or SOFR rate. When a range of rates is disclosed, the Fund holds more than one contract within the same tranche with identical LIBOR or SOFR period, spread and floor, but different LIBOR or SOFR reset dates.

(d) Senior Loans generally are subject to mandatory and/or optional prepayment. As a result, the actual remaining maturity of Senior Loans may be substantially less than the stated maturities shown.

(e) Rate shown reflects yield as of January 31, 2023.

LIBOR - London Interbank Offered Rate <br> SOFR - Secured Overnight Financing Rate

---

| |
|:---|
| **First Trust Limited Duration Investment Grade Corporate ETF (FSIG)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

**Valuation Inputs**

The Fund is subject to fair value accounting standards that define fair value, establish the framework for measuring fair value and provide a three-level hierarchy for fair valuation based upon the inputs to the valuation as of the measurement date. The three levels of the fair value hierarchy are as follows:

&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.

A summary of the inputs used to value the Fund's investments as of January 31, 2023 is as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> Value at<br> 1/31/2023** | **Level 1<br> Quoted<br> Prices** | **Level 2<br> Significant<br> Observable<br> Inputs** | **Level 3<br> Significant<br> Unobservable<br> Inputs** |
| Corporate Bonds and Notes\* | $265813506 | $— | $265813506 | $— |
| Commercial Paper\* | 69000000 |  | 69000000 |  |
| Foreign Corporate Bonds and Notes\* | 31160183 |  | 31160183 |  |
| Senior Floating-Rate Loan Interests\* | 16018407 |  | 16018407 |  |
| Money Market Funds | 22190243 | 22190243 |  |  |
| Total Investments | $404182339 | $22190243 | $381992096 | $— |
| \* See Portfolio of Investments for industry breakout. | \* See Portfolio of Investments for industry breakout. | \* See Portfolio of Investments for industry breakout. | \* See Portfolio of Investments for industry breakout. | \* See Portfolio of Investments for industry breakout. |

---

---

| |
|:---|
| **First Trust High Income Strategic Focus ETF (HISF)** |
| **Portfolio of Investments** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
|  | **Exchange-Traded Funds (a) — 99.9%** |  |
|  | ***Capital Markets — 99.9%*** |  |
| 62852 | First Trust Enhanced Short Maturity ETF | $3738437 |
| 104769 | First Trust Institutional Preferred Securities and Income ETF | 1952894 |
| 349346 | First Trust Limited Duration Investment Grade Corporate ETF | 6579932 |
| 137908 | First Trust Low Duration Opportunities ETF | 6625224 |
| 144246 | First Trust Tactical High Yield ETF | 5832587 |
| 297712 | First Trust TCW Opportunistic Fixed Income ETF | 13537977 |
|  | **Total Investments — 99.9%** | 38267051 |
|  | (Cost $40,309,363) |  |
|  | **Net Other Assets and Liabilities — 0.1%** | 39770 |
|  | **Net Assets — 100.0%** | $38306821 |

---

(a) Represents investments in affiliated funds.

**Valuation Inputs**

The Fund is subject to fair value accounting standards that define fair value, establish the framework for measuring fair value and provide a three-level hierarchy for fair valuation based upon the inputs to the valuation as of the measurement date. The three levels of the fair value hierarchy are as follows:

&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.

A summary of the inputs used to value the Fund's investments as of January 31, 2023 is as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total<br> Value at<br> 1/31/2023** | **Level 1<br> Quoted<br> Prices** | **Level 2<br> Significant<br> Observable<br> Inputs** | **Level 3<br> Significant<br> Unobservable<br> Inputs** |
| Exchange-Traded Funds\* | $38267051 | $38267051 | $— | $— |
| \* See Portfolio of Investments for industry breakout. | \* See Portfolio of Investments for industry breakout. | \* See Portfolio of Investments for industry breakout. | \* See Portfolio of Investments for industry breakout. | \* See Portfolio of Investments for industry breakout. |

---

---

| |
|:---|
| **First Trust High Income Strategic Focus ETF (HISF)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

**Affiliated Transactions**

Amounts relating to investments in affiliated funds at January 31, 2023, and for the fiscal year-to-date period (November 1, 2022 to January 31, 2023) are as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Name** | **Shares at 1/31/2023** | **Value at 10/31/2022** | **Purchases** | **Sales** | **Change in**<br> **Unrealized**<br> **Appreciation**<br> **(Depreciation)** | **Realized** <br> **Gain (Loss)** | **Value at 1/31/2023** | **Dividend Income** |
| First Trust Enhanced Short Maturity ETF | 62852 | $3934721 | $10402 | $(219045) | $12248 | $111 | $3738437 | $35861 |
| First Trust Institutional Preferred Securities and Income ETF | 104769 | 1975072 |  | (167486) | 168137 | (22829) | 1952894 | 26991 |
| First Trust Limited Duration Investment Grade Corporate ETF | 349346 |  | 6539757 |  | 40175 |  | 6579932 | 20961 |
| First Trust Low Duration Opportunities ETF | 137908 | 9708679 |  | (3284481) | 418981 | (217955) | 6625224 | 70425 |
| First Trust Tactical High Yield ETF | 144246 | 8077865 |  | (2359248) | 470268 | (356298) | 5832587 | 117311 |
| First Trust TCW Opportunistic Fixed Income ETF | 297712 | 10532263 | 2844344 | (600323) | 762104 | (411) | 13537977 | 127306 |
| Total Investments in Affiliates |  | $34228600 | $9394503 | $(6630583) | $1871913 | $(597382) | $38267051 | $398855 |

---

---

| |
|:---|
| **FT Cboe Vest Rising Dividend Achievers Target Income ETF (RDVI)** |
| **Portfolio of Investments** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS — 100.1%** | **COMMON STOCKS — 100.1%** | **COMMON STOCKS — 100.1%** |
|  | **Banks — 12.5%** |  |
| 17896 | Bank of America Corp. (a) | $634950 |
| 14800 | Citizens Financial Group, Inc. (a) | 641136 |
| 4388 | JPMorgan Chase & Co. (a) | 614144 |
| 34130 | KeyCorp (a) | 654955 |
| 27566 | Regions Financial Corp. (a) | 648904 |
| 13458 | U.S. Bancorp (a) | 670208 |
|  |  | 3864297 |
|  | **Capital Markets — 6.1%** |  |
| 1639 | Goldman Sachs Group (The), Inc. (a) | 599562 |
| 16864 | Jefferies Financial Group, Inc. (a) | 662418 |
| 6530 | Morgan Stanley (a) | 635565 |
|  |  | 1897545 |
|  | **Chemicals — 4.1%** |  |
| 9490 | Corteva, Inc. (a) | 611631 |
| 20880 | Huntsman Corp. (a) | 661687 |
|  |  | 1273318 |
|  | **Communications Equipment — 1.9%** |  |
| 11865 | Cisco Systems, Inc. (a) | 577470 |
|  | **Consumer Finance — 8.8%** |  |
| 3878 | American Express Co. (a) | 678378 |
| 6298 | Capital One Financial Corp. (a) | 749462 |
| 5855 | Discover Financial Services (a) | 683454 |
| 17083 | Synchrony Financial (a) | 627459 |
|  |  | 2738753 |
|  | **Food Products — 1.6%** |  |
| 6145 | Archer-Daniels-Midland Co. (a) | 509113 |
|  | **Health Care Providers & Services — 5.4%** |  |
| 1130 | Elevance Health, Inc. (a) | 564989 |
| 1127 | Humana, Inc. (a) | 576686 |
| 1082 | UnitedHealth Group, Inc. (a) | 540123 |
|  |  | 1681798 |
|  | **Household Durables — 2.2%** |  |
| 12253 | PulteGroup, Inc. (a) | 697073 |
|  | **Insurance — 9.9%** |  |
| 8218 | Aflac, Inc. (a) | 604023 |
| 4323 | Allstate (The) Corp. (a) | 555376 |
| 5550 | Cincinnati Financial Corp. (a) | 627983 |
| 15375 | Fidelity National Financial, Inc. (a) | 676961 |
| 5795 | Prudential Financial, Inc. (a) | 608127 |
|  |  | 3072470 |

---

---

| |
|:---|
| **FT Cboe Vest Rising Dividend Achievers Target Income ETF (RDVI)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (Continued)** | **COMMON STOCKS (Continued)** | **COMMON STOCKS (Continued)** |
|  | **IT Services — 6.2%** |  |
| 10210 | Cognizant Technology Solutions Corp., Class A (a) | $681517 |
| 1641 | Mastercard, Inc., Class A (a) | 608155 |
| 2743 | Visa, Inc., Class A (a) | 631466 |
|  |  | 1921138 |
|  | **Machinery — 3.9%** |  |
| 2406 | Cummins, Inc. (a) | 600393 |
| 2512 | Snap-on, Inc. (a) | 624810 |
|  |  | 1225203 |
|  | **Media — 4.1%** |  |
| 17475 | Interpublic Group of (The) Cos., Inc. (a) | 637139 |
| 7355 | Omnicom Group, Inc. (a) | 632456 |
|  |  | 1269595 |
|  | **Metals & Mining — 2.1%** |  |
| 14790 | Freeport-McMoRan, Inc. (a) | 659930 |
|  | **Oil, Gas & Consumable Fuels — 3.8%** |  |
| 4510 | EOG Resources, Inc. (a) | 596447 |
| 2590 | Pioneer Natural Resources Co. (a) | 596607 |
|  |  | 1193054 |
|  | **Paper & Forest Products — 2.0%** |  |
| 9172 | Louisiana-Pacific Corp. (a) | 624521 |
|  | **Pharmaceuticals — 3.3%** |  |
| 3229 | Johnson & Johnson (a) | 527683 |
| 11035 | Pfizer, Inc. (a) | 487306 |
|  |  | 1014989 |
|  | **Semiconductors & Semiconductor Equipment — 14.0%** |  |
| 5416 | Applied Materials, Inc. (a) | 603830 |
| 21074 | Intel Corp. (a) | 595551 |
| 1473 | KLA Corp. (a) | 578123 |
| 1278 | Lam Research Corp. (a) | 639128 |
| 3423 | NVIDIA Corp. (a) | 668752 |
| 4954 | QUALCOMM, Inc. (a) | 659922 |
| 3345 | Texas Instruments, Inc. (a) | 592767 |
|  |  | 4338073 |
|  | **Software — 1.9%** |  |
| 2318 | Microsoft Corp. (a) | 574424 |
|  | **Specialty Retail — 4.3%** |  |
| 7138 | Best Buy Co., Inc. (a) | 633283 |

---

---

| |
|:---|
| **FT Cboe Vest Rising Dividend Achievers Target Income ETF (RDVI)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (Continued)** | **COMMON STOCKS (Continued)** | **COMMON STOCKS (Continued)** |
|  | **Specialty Retail (Continued)** |  |
| 5077 | Williams-Sonoma, Inc. (a) | $685091 |
|  |  | 1318374 |
|  | **Technology Hardware, Storage & Peripherals — 2.0%** |  |
| 4216 | Apple, Inc. (a) | 608327 |
|  | **Total Investments — 100.1%** | 31059465 |
|  | (Cost $29,413,244) |  |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Number of<br> Contracts** | **Description** | **Notional<br> Amount** | **Exercise<br> Price** | **Expiration<br> Date** | **Value** |
| **CALL OPTIONS WRITTEN — (0.1)%** | **CALL OPTIONS WRITTEN — (0.1)%** | **CALL OPTIONS WRITTEN — (0.1)%** | **CALL OPTIONS WRITTEN — (0.1)%** | **CALL OPTIONS WRITTEN — (0.1)%** | |
| (10) | S&P 500 Weeklys | $(4076600) | $4080.00 | 02/03/23 | (38900) |
|  | (Premiums received $44,771) |  |  |  |  |
|  | **Net Other Assets and Liabilities — (0.0)%** | **Net Other Assets and Liabilities — (0.0)%** |  |  | (14123) |
|  | **Net Assets — 100.0%** |  |  |  | $31006442 |

---

(a) All or a portion of this security is pledged as collateral for the options written. At January 31, 2023, the value of these securities amounts to $1,162,984.

---

| |
|:---|
| **FT Cboe Vest Rising Dividend Achievers Target Income ETF (RDVI)** |
| **Portfolio of Investments (Continued)** |
| **January 31, 2023 (Unaudited)** |

---

**Valuation Inputs**

The Fund is subject to fair value accounting standards that define fair value, establish the framework for measuring fair value and provide a three-level hierarchy for fair valuation based upon the inputs to the valuation as of the measurement date. The three levels of the fair value hierarchy are as follows:

&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.

A summary of the inputs used to value the Fund's investments as of January 31, 2023 is as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** | **ASSETS TABLE** |
|  | **Total<br> Value at<br> 1/31/2023** | **Level 1<br> Quoted<br> Prices** | **Level 2<br> Significant<br> Observable<br> Inputs** | **Level 3<br> Significant<br> Unobservable<br> Inputs** |
| Common Stocks\* | $31059465 | $31059465 | $— | $— |
| **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** | **LIABILITIES TABLE** |
|  | **Total<br> Value at<br> 1/31/2023** | **Level 1<br> Quoted<br> Prices** | **Level 2<br> Significant<br> Observable<br> Inputs** | **Level 3<br> Significant<br> Unobservable<br> Inputs** |
| Call Options Written | $(38900) | $(38900) | $— | $— |

---

\* See Portfolio of Investments for industry breakout.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** First Trust Exchange-Traded Fund 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:** FT Cboe Vest Rising Dividend Achievers Target Income ETF

- **b. EDGAR series identifier (if any):** S000077479

- **c. LEI of Series:** 549300TMD9HIN9ZLU862

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $31085652.22

**Total Liabilities:** $79209.75

**Net Assets:** $31006442.47

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000237940 | 7.47%                | -5.34%               | 8.82%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1517.75                | $362145.72                                 |
| Month 2  | $96132.87                | $-789723.87                                |
| Month 3  | $-1365.84                | $2006612.24                                |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Goldman Sachs Group Inc/The    | Goldman Sachs Group Inc/The         | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |      1639 | NS      | $599562.59    | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc         | UnitedHealth Group Inc              | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |      1082 | NS      | $540123.58    | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Instruments Inc          | Texas Instruments Inc               | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |      3345 | NS      | $592767.45    | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntsman Corp                  | Huntsman Corp                       | CUSIP: 447011107<br>LEI: 5299000V56320A7RIQ67 | Long             | EC               | CORP              | US        |     20880 | NS      | $661687.20    | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Louisiana-Pacific Corp         | Louisiana-Pacific Corp              | CUSIP: 546347105<br>LEI: 549300C7E2UAO5BVRR75 | Long             | EC               | CORP              | US        |      9172 | NS      | $624521.48    | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials Inc          | Applied Materials Inc               | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |      5416 | NS      | $603829.84    | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Omnicom Group Inc              | Omnicom Group Inc                   | CUSIP: 681919106<br>LEI: HKUPACFHSSASQK8HLS17 | Long             | EC               | CORP              | US        |      7355 | NS      | $632456.45    | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Freeport-McMoRan Inc           | Freeport-McMoRan Inc                | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |     14790 | NS      | $659929.80    | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Pioneer Natural Resources Co   | Pioneer Natural Resources Co        | CUSIP: 723787107<br>LEI: FY8JBF7CCL2VE4F1B628 | Long             | EC               | CORP              | US        |      2590 | NS      | $596606.50    | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Snap-on Inc                    | Snap-on Inc                         | CUSIP: 833034101<br>LEI: HHWAT5TDOYZMM26KKQ73 | Long             | EC               | CORP              | US        |      2512 | NS      | $624809.76    | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Cognizant Technology Solutions | Cognizant Technology Solutions Corp | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |     10210 | NS      | $681517.50    | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG Resources Inc              | EOG Resources Inc                   | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |      4510 | NS      | $596447.50    | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard Inc                 | Mastercard Inc                      | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      1641 | NS      | $608154.60    | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Aflac Inc                      | Aflac Inc                           | CUSIP: 001055102<br>LEI: 549300N0B7DOGLXWPP39 | Long             | EC               | CORP              | US        |      8218 | NS      | $604023.00    | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Archer-Daniels-Midland Co      | Archer-Daniels-Midland Co           | CUSIP: 039483102<br>LEI: 549300LO13MQ9HYSTR83 | Long             | EC               | CORP              | US        |      6145 | NS      | $509113.25    | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co            | JPMorgan Chase & Co                 | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      4388 | NS      | $614144.48    | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                    | NVIDIA Corp                         | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |      3423 | NS      | $668751.51    | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Discover Financial Services    | Discover Financial Services         | CUSIP: 254709108<br>LEI: Z1YLO2USPORE63VVUL20 | Long             | EC               | CORP              | US        |      5855 | NS      | $683454.15    | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| KeyCorp                        | KeyCorp                             | CUSIP: 493267108<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | EC               | CORP              | US        |     34130 | NS      | $654954.70    | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity National Financial In | Fidelity National Financial Inc     | CUSIP: 31620R303<br>LEI: 549300CAZYIH39SYQ287 | Long             | EC               | CORP              | US        |     15375 | NS      | $676961.25    | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Interpublic Group of Cos Inc/T | Interpublic Group of Cos Inc/The    | CUSIP: 460690100<br>LEI: 5493008IUOJ5VWTRC333 | Long             | EC               | CORP              | US        |     17475 | NS      | $637138.50    | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Intel Corp                     | Intel Corp                          | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |     21074 | NS      | $595551.24    | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc                      | Apple Inc                           | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |      4216 | NS      | $608326.64    | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Prudential Financial Inc       | Prudential Financial Inc            | CUSIP: 744320102<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | EC               | CORP              | US        |      5795 | NS      | $608127.30    | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson              | Johnson & Johnson                   | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |      3229 | NS      | $527683.18    | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Allstate Corp/The              | Allstate Corp/The                   | CUSIP: 020002101<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EC               | CORP              | US        |      4323 | NS      | $555375.81    | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| CBOE GLOBAL MARKETS, INC.      | S&P 500 INDEX                       | CUSIP: 000000000<br>LEI: 529900RLNSGA90UPEH54 | N/A              | DE               | CORP              | US        |       -10 | NC      | $-38900.00    | -0.13%            |  |  |  | No            |                  1 | On Loan: No      |
| Capital One Financial Corp     | Capital One Financial Corp          | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               | CORP              | US        |      6298 | NS      | $749462.00    | 2.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Jefferies Financial Group Inc  | Jefferies Financial Group Inc       | CUSIP: 47233W109<br>LEI: 549300HOF34RGOJ5YL07 | Long             | EC               | CORP              | US        |     16864 | NS      | $662417.92    | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Humana Inc                     | Humana Inc                          | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |      1127 | NS      | $576685.90    | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Best Buy Co Inc                | Best Buy Co Inc                     | CUSIP: 086516101<br>LEI: HL5XPTVRV0O8TUN5LL90 | Long             | EC               | CORP              | US        |      7138 | NS      | $633283.36    | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| PulteGroup Inc                 | PulteGroup Inc                      | CUSIP: 745867101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12253 | NS      | $697073.17    | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Cummins Inc                    | Cummins Inc                         | CUSIP: 231021106<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | EC               | CORP              | US        |      2406 | NS      | $600393.24    | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| American Express Co            | American Express Co                 | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |      3878 | NS      | $678378.54    | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Corteva Inc                    | Corteva Inc                         | CUSIP: 22052L104<br>LEI: 549300WZN9I2QKLS0O94 | Long             | EC               | CORP              | US        |      9490 | NS      | $611630.50    | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Pfizer Inc                     | Pfizer Inc                          | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |     11035 | NS      | $487305.60    | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems Inc              | Cisco Systems Inc                   | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |     11865 | NS      | $577469.55    | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corp              | Lam Research Corp                   | CUSIP: 512807108<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |      1278 | NS      | $639127.80    | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                 | Morgan Stanley                      | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |      6530 | NS      | $635564.90    | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| US Bancorp                     | US Bancorp                          | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |     13458 | NS      | $670208.40    | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Regions Financial Corp         | Regions Financial Corp              | CUSIP: 7591EP100<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EC               | CORP              | US        |     27566 | NS      | $648903.64    | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc                   | QUALCOMM Inc                        | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |      4954 | NS      | $659922.34    | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams-Sonoma Inc            | Williams-Sonoma Inc                 | CUSIP: 969904101<br>LEI: 549300IARG6YWVTZ1I92 | Long             | EC               | CORP              | US        |      5077 | NS      | $685090.38    | 2.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Cincinnati Financial Corp      | Cincinnati Financial Corp           | CUSIP: 172062101<br>LEI: 254900Q4WEDMZBOZ0002 | Long             | EC               | CORP              | US        |      5550 | NS      | $627982.50    | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp           | Bank of America Corp                | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |     17896 | NS      | $634950.08    | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA Corp                       | KLA Corp                            | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |      1473 | NS      | $578123.04    | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Synchrony Financial            | Synchrony Financial                 | CUSIP: 87165B103<br>LEI: 549300RS7EWPM9MA6C78 | Long             | EC               | CORP              | US        |     17083 | NS      | $627458.59    | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                       | Visa Inc                            | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      2743 | NS      | $631466.03    | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                 | Microsoft Corp                      | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      2318 | NS      | $574423.58    | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Elevance Health Inc            | Elevance Health Inc                 | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |      1130 | NS      | $564988.70    | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Citizens Financial Group Inc   | Citizens Financial Group Inc        | CUSIP: 174610105<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EC               | CORP              | US        |     14800 | NS      | $641136.00    | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-22

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

**Signature:** Donald P. Swade

**Name of Signer:** Donald P. Swade

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