# EDGAR Filing Document

**Accession Number:** 0001497778
**File Stem:** 0000940400-25-013839
**Filing Date:** 2025-12
**Character Count:** 52929
**Document Hash:** 569db1abe541ced023698b763fa5a474
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-013839.hdr.sgml**: 20251219

**ACCESSION NUMBER**: 0000940400-25-013839

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251219

**DATE AS OF CHANGE**: 20251219

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIRST TRUST SERIES FUND
- **CENTRAL INDEX KEY:** 0001497778

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22452
- **FILM NUMBER:** 251587080

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

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

## Series and Classes Contracts Data

### First Trust Managed Municipal Fund (Series ID: S000074778)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000232961 | Class I      | CWAIX           |
| C000232962 | Class A      | CWAAX           |

## 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 Series Fund

- **b. Investment Company Act file number:** 811-22452

- **c. CIK number of Registrant:** 0001497778

- **d. LEI of Registrant:** 549300RL1B5O4HI4N885

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

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

  - **City:** Wheaton

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60187

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

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

- **a. Name of Series:** First Trust Managed Municipal Fund

- **b. EDGAR series identifier (if any):** S000074778

- **c. LEI of Series:** 549300B8TD0GNZDKG002

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

- **a. Date of fiscal year-end:** 2025-10-31

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $62830580.18

**Total Liabilities:** $1150144.00

**Net Assets:** $61680436.18

**Delayed Delivery Securities:** $503305.00

**Cash Not Reported:** $56262.61

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 84.01476000 | **1-Year:** 1498.63240000 | **5-Year:** 14945.07484000 | **10-Year:** 21319.44002000 | **30-Year:** 138.84426000

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

- **3-Month:** 0.00000000 | **1-Year:** 69.39161000 | **5-Year:** 792.72227000 | **10-Year:** 1152.92587000 | **30-Year:** 21.38418000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000232961 | 0.72%                | 2.07%                | 1.25%                |
| Class ID C000232962 | 0.75%                | 2.00%                | 1.22%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-72645.81               | $379089.18                                 |
| Month 2  | $15421.20                | $1196453.91                                |
| Month 3  | $78808.41                | $535550.79                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| SOUTH CAROLINA ST PUBLIC SVC A | South Carolina Public Service Authority                                          | CUSIP: 8371515Q8<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |    750000 | PA      | $786793.13    | 1.28%             | 2045-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF ARPTS A | City of Los Angeles Department of Airports                                       | CUSIP: 544445ET2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $253767.38    | 0.41%             | 2048-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEWARK HGR EDU FIN CORP TX EDU | Newark Higher Education Finance Corp                                             | CUSIP: 650346FN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $548580.60    | 0.89%             | 2037-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| THOMPSON CROSSING MET DIST #4  | Thompson Crossing Metropolitan District No 4                                     | CUSIP: 88477EAB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $502559.40    | 0.81%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST MUNI FIN AUTH CH | California Municipal Finance Authority                                           | CUSIP: 13048DCP1<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    250000 | PA      | $248931.18    | 0.40%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT OF PORTLAND OR ARPT REVEN | Port of Portland OR Airport Revenue                                              | CUSIP: 735240W58<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    955000 | PA      | $1041585.36   | 1.69%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSPRTN TRUST  | New Jersey Transportation Trust Fund Authority                                   | CUSIP: 6461366M8<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    500000 | PA      | $528080.25    | 0.86%             | 2039-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES | New York State Dormitory Authority                                               | CUSIP: 64985SNP4<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    500000 | PA      | $504014.65    | 0.82%             | 2050-11-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING A | California Community Choice Financing Authority                                  | CUSIP: 13013JAP1<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    835000 | PA      | $853389.96    | 1.38%             | 2052-02-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST PUBLIC SVC A | South Carolina Public Service Authority                                          | CUSIP: 837151R27<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |    545000 | PA      | $606446.13    | 0.98%             | 2040-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PHILADELPHIA PA                | City of Philadelphia PA                                                          | CUSIP: 717813ZC6<br>LEI: 549300IVFOPB4AG7UL47 | Long             | DBT              | MUN               | US        |    450000 | PA      | $446966.28    | 0.72%             | 2041-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VALPARAISO IN EXEMPT FACS REVE | City of Valparaiso IN                                                            | CUSIP: 92028RAD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $388236.23    | 0.63%             | 2034-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BEACH CMNTY DEV DIST FL CAPITA | Beach Community Development District                                             | CUSIP: 07332WAP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $417742.28    | 0.68%             | 2044-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HOMEWOOD AL EDUCTNL BLDG AUTH  | Homewood Educational Building Authority                                          | CUSIP: 437887HW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    360000 | PA      | $372646.73    | 0.60%             | 2044-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW HAMPSHIRE ST HLTH & EDU FA | New Hampshire Health and Education Facilities Authority Act                      | CUSIP: 64461XLZ6<br>LEI: 549300CNCK7OT82W5653 | Long             | DBT              | MUN               | US        |    500000 | PA      | $541332.70    | 0.88%             | 2041-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SALEM VA ECON DEV AUTH EDUCTNL | Salem Economic Development Authority                                             | CUSIP: 794565BK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $447733.25    | 0.73%             | 2050-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ARIZONA ST INDL DEV AUTH EDU R | Arizona Industrial Development Authority                                         | CUSIP: 04052BKJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $346868.90    | 0.56%             | 2029-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PHOENIX AZ INDL DEV AUTH STUDE | Industrial Development Authority of the City of Phoenix Arizona/The              | CUSIP: 71885DDZ2<br>LEI: 549300A62PWFBDWB8332 | Long             | DBT              | MUN               | US        |    270000 | PA      | $278197.36    | 0.45%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW MEXICO ST MUNI ENERGY ACQU | New Mexico Municipal Energy Acquisition Authority                                | CUSIP: 647207BL2<br>LEI: 549300KZGG2YNDKKCE92 | Long             | DBT              | MUN               | US        |    500000 | PA      | $536906.30    | 0.87%             | 2054-06-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING A | California Community Choice Financing Authority                                  | CUSIP: 13013JBJ4<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    600000 | PA      | $613598.22    | 0.99%             | 2053-05-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| SAINT LOUIS CNTY MO INDL DEV A | St Louis County Industrial Development Authority                                 | CUSIP: 791524CE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $486828.10    | 0.79%             | 2048-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST POLL CONTROL FIN | California Pollution Control Financing Authority                                 | CUSIP: 13054WAB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500463.75    | 0.81%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TROPHY CLUB TX PUBLIC IMPT DIS | Town of Trophy Club TX Public Improvement District No 1                          | CUSIP: 89706PAX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    390000 | PA      | $419362.20    | 0.68%             | 2032-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT JOHN THE BAPTIST PARISH  | Parish of St John the Baptist LA                                                 | CUSIP: 79020FAW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $503701.95    | 0.82%             | 2037-06-01      | Variable      | 4.05%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST TURNPIKE COMMI | Pennsylvania Turnpike Commission                                                 | CUSIP: 709225GE0<br>LEI: 549300J8LLBYEYEXZJ24 | Long             | DBT              | MUN               | US        |    750000 | PA      | $826896.75    | 1.34%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY TRANSITIONAL  | New York City Transitional Finance Authority Future Tax Secured Revenue          | CUSIP: 64971WH52<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $112176.66    | 0.18%             | 2039-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA ST PUBLIC FACS AUTHS | Louisiana Public Facilities Authority                                            | CUSIP: 54640TAK5<br>LEI: 549300RQIPT5S4P4M065 | Long             | DBT              | MUN               | US        |    400000 | PA      | $400000.00    | 0.65%             | 2043-10-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF ARPTS A | City of Los Angeles Department of Airports                                       | CUSIP: 544445R68<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $555398.45    | 0.90%             | 2031-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH ENVRNMNTL  | Indiana Finance Authority                                                        | CUSIP: 455054BG0<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    525000 | PA      | $529332.62    | 0.86%             | 2035-05-01      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST CMWLTH TRANSPRTN B | Virginia Commonwealth Transportation Board                                       | CUSIP: 927793ZU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $545456.00    | 0.88%             | 2041-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH             | Commonwealth of Puerto Rico                                                      | CUSIP: 74514L3K1<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    750000 | PA      | $741972.90    | 1.20%             | 2033-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAINT JOHN THE BAPTIST PARISH  | Parish of St John the Baptist LA                                                 | CUSIP: 79020FBA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $249131.85    | 0.40%             | 2037-06-01      | Variable      | 2.38%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST HGR EDU ASSISTAN | New Jersey Higher Education Student Assistance Authority                         | CUSIP: 646080SS1<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |     40000 | PA      | $40000.61     | 0.06%             | 2030-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO IL                     | City of Chicago IL                                                               | CUSIP: 167486P60<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |    750000 | PA      | $775192.20    | 1.26%             | 2040-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CLACKAMAS CNTY OR HOSP FAC AUT | Clackamas County Hospital Facility Authority                                     | CUSIP: 179027YN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $245735.45    | 0.40%             | 2055-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST AL  | Black Belt Energy Gas District                                                   | CUSIP: 09182TCG0<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    500000 | PA      | $533216.50    | 0.86%             | 2053-02-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| COLUMBUS OH REGL ARPT AUTH REV | Columbus Regional Airport Authority                                              | CUSIP: 199546CX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $539489.60    | 0.87%             | 2041-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ADAMS & ARAPAHOE CNTYS CO JT S | Adams & Arapahoe Counties Joint School District 28J Aurora                       | CUSIP: 005484DA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $702375.96    | 1.14%             | 2043-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| OHIO ST AIR QUALITY DEV AUTH   | Ohio Air Quality Development Authority                                           | CUSIP: 677525WB9<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |    500000 | PA      | $492711.05    | 0.80%             | 2029-09-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| WESTVIEW SOUTH CDD FL SPL ASSM | Westview South Community Development District                                    | CUSIP: 961566AB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    305000 | PA      | $314359.23    | 0.51%             | 2043-05-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| TEXAS ST MUNI GAS ACQUISITION& | Texas Municipal Gas Acquisition & Supply Corp IV                                 | CUSIP: 88256PAQ3<br>LEI: 549300PTUE847QDBBW22 | Long             | DBT              | MUN               | US        |    500000 | PA      | $555319.65    | 0.90%             | 2032-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| YONKERS NY                     | City of Yonkers NY                                                               | CUSIP: 986082W43<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1108235.10   | 1.80%             | 2039-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSPRTN TRUST  | New Jersey Transportation Trust Fund Authority                                   | CUSIP: 64613CCE6<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    565000 | PA      | $620575.21    | 1.01%             | 2041-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MET NASHVILLE TN ARPT AUTH ARP | Metropolitan Nashville Airport Authority/The                                     | CUSIP: 592190QW5<br>LEI: 549300IC0HNF8TDXEE63 | Long             | DBT              | MUN               | US        |    500000 | PA      | $542789.90    | 0.88%             | 2041-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SARASOTA NATIONAL FL CDD SPL A | Sarasota National Community Development District                                 | CUSIP: 80342PAG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    495000 | PA      | $499664.53    | 0.81%             | 2031-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| HAWAII ST ARPTS SYS REVENUE    | State of Hawaii Airports System Revenue                                          | CUSIP: 419794A44<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $507968.00    | 0.82%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONSOL MUNI ELEC PWR SYS WY JT | Consolidated Municipalities Electric Power Systems Joint Powers Board            | CUSIP: 210295EX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1100284.40   | 1.78%             | 2040-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| JEA FL ELEC SYS REVENUE        | JEA Electric System Revenue                                                      | CUSIP: 46613SQP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    605000 | PA      | $537095.95    | 0.87%             | 2040-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY PA INDL DEV AU | Montgomery County Industrial Development Authority/PA                            | CUSIP: 61360PCK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $707155.89    | 1.15%             | 2036-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI EDU REVENUE | Public Finance Authority                                                         | CUSIP: 74442EMF4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    400000 | PA      | $351678.40    | 0.57%             | 2049-07-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BLACK CREEK FL CDD SPL ASSMNT  | Black Creek Community Development District                                       | CUSIP: 09186FAF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $265360.75    | 0.43%             | 2032-06-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| LONG BEACH NY                  | City of Long Beach NY                                                            | CUSIP: 542519ES8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $422328.44    | 0.68%             | 2042-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PRINCETON TX SPL ASSMNT REVENU | City of Princeton TX                                                             | CUSIP: 742400BS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $501740.35    | 0.81%             | 2042-09-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| TARRANT CNTY TX CULTURAL EDU F | Tarrant County Cultural Education Facilities Finance Corp                        | CUSIP: 87638QSG5<br>LEI: 549300ROY505NVTMMI25 | Long             | DBT              | MUN               | US        |    750000 | PA      | $814608.45    | 1.32%             | 2052-11-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| SUFFOLK REGL OFF-TRACK BETTING | Suffolk Regional Off-Track Betting Corp                                          | CUSIP: 86480TAB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $762578.40    | 1.24%             | 2044-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| OREGON ST DEPT OF TRANSPRTN HI | State of Oregon Department of Transportation                                     | CUSIP: 68607DUU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    270000 | PA      | $289892.28    | 0.47%             | 2039-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TULSA OK MUNI ARPT TRUST TRUST | Tulsa Municipal Airport Trust Trustees/OK                                        | CUSIP: 899661EN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $336717.36    | 0.55%             | 2040-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| PALM BEACH CNTY FL HLTH FACS A | Palm Beach County Health Facilities Authority                                    | CUSIP: 69650MAY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     75000 | PA      | $75995.17     | 0.12%             | 2042-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HONOLULU CITY & CNTY HI BRD OF | Honolulu City & County Board of Water Supply                                     | CUSIP: 438689MS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $432003.80    | 0.70%             | 2041-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WINROCK TOWN CENTER NM TAX INC | Winrock Town Center Tax Increment Development District No 1                      | CUSIP: 97535RAG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $472355.60    | 0.77%             | 2040-05-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| MAXATAWNY TWP PA MUNI AUTH REV | Maxatawny Township Municipal Authority                                           | CUSIP: 57778PAC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $504657.00    | 0.82%             | 2041-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL GAS INC GA | Main Street Natural Gas Inc                                                      | CUSIP: 56035DEM0<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    740000 | PA      | $784909.64    | 1.27%             | 2030-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST JOBS-ECON DE | South Carolina Jobs-Economic Development Authority                               | CUSIP: 83704HAH0<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |    350000 | PA      | $374101.56    | 0.61%             | 2034-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST WTR DEV BRD           | Texas Water Development Board                                                    | CUSIP: 8828547W6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    245000 | PA      | $272973.98    | 0.44%             | 2037-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST AL  | Black Belt Energy Gas District                                                   | CUSIP: 09182TBT3<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    640000 | PA      | $676576.06    | 1.10%             | 2053-11-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW HAMPSHIRE ST BUSINESS FIN  | New Hampshire Business Finance Authority                                         | CUSIP: 644684GH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $206190.72    | 0.33%             | 2043-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BERRY BAY II CDD FL SPL ASSMNT | Berry Bay II Community Development District                                      | CUSIP: 08577DAB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $499397.90    | 0.81%             | 2044-05-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| LOUISVILLE & JEFFERSON CNTY KY | Louisville/Jefferson County Metropolitan Government                              | CUSIP: 54659LCW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $604332.30    | 0.98%             | 2038-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MIDAS MOUNTAIN VETERANS PROGRA | MIDA Mountain Veterans Program Public Infrastructure District                    | CUSIP: 59561SAB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    685000 | PA      | $676187.89    | 1.10%             | 2054-06-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY TRANSITIONAL  | New York City Transitional Finance Authority Future Tax Secured Revenue          | CUSIP: 64972JWH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $271004.83    | 0.44%             | 2046-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CALIF CITY &CNTY | San Francisco City & County Airport Comm-San Francisco International Airport     | CUSIP: 79766DMB2<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |    500000 | PA      | $506109.80    | 0.82%             | 2049-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA ST LOCAL GOVT ENVRNM | Louisiana Local Government Environmental Facilities & Community Development Auth | CUSIP: 54628CDX7<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |    490000 | PA      | $483774.80    | 0.78%             | 2032-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY                    | City of New York NY                                                              | CUSIP: 64966QK74<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    500000 | PA      | $548595.40    | 0.89%             | 2040-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUBLIC FIN AUTH WI STUDENT HSG | Public Finance Authority                                                         | CUSIP: 74439YFR7<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    375000 | PA      | $403851.19    | 0.65%             | 2039-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HLTH & EDUCTNL FA | Wisconsin Health & Educational Facilities Authority                              | CUSIP: 97712JGL1<br>LEI: 549300ISNGXS0VHGVD41 | Long             | DBT              | MUN               | US        |    500000 | PA      | $545869.90    | 0.88%             | 2038-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRL TX REGL MOBILITY AUTH R | Central Texas Regional Mobility Authority                                        | CUSIP: 155498LT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $426854.08    | 0.69%             | 2039-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                    | State of Illinois                                                                | CUSIP: 452153DB2<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    250000 | PA      | $263047.93    | 0.43%             | 2047-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BOYLE CNTY KY EDUCTNL FACS REV | County of Boyle KY                                                               | CUSIP: 10346PAT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1054938.40   | 1.71%             | 2043-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTH AL COOPE | Southeast Energy Authority A Cooperative District                                | CUSIP: 84136GAK1<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |    500000 | PA      | $533332.75    | 0.86%             | 2054-01-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST JOBS-ECON DE | South Carolina Jobs-Economic Development Authority                               | CUSIP: 837032BZ3<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |    500000 | PA      | $539680.80    | 0.87%             | 2046-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HLTH & EDUCTNL  | Connecticut State Health & Educational Facilities Authority                      | CUSIP: 20774Y6T9<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |    330000 | PA      | $333898.36    | 0.54%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER CITY & CNTY CO ARPT REV | City & County of Denver CO Airport System Revenue                                | CUSIP: 249182TB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $1039492.35   | 1.69%             | 2033-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MAINE ST FIN AUTH SOL WST DISP | Finance Authority of Maine                                                       | CUSIP: 56042CAZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $723711.31    | 1.17%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING  | Pennsylvania Economic Development Financing Authority                            | CUSIP: 70870JHR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $538841.45    | 0.87%             | 2041-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ARKANSAS DEV FIN AUTH ENVIRONM | Arkansas Development Finance Authority                                           | CUSIP: 04110FAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $251241.78    | 0.41%             | 2052-09-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| WHITING IN ENVRNMNTL FACS REVE | City of Whiting IN                                                               | CUSIP: 96634RAU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $708257.06    | 1.15%             | 2044-12-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF ARPTS A | City of Los Angeles Department of Airports                                       | CUSIP: 544445P94<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     25000 | PA      | $27422.33     | 0.04%             | 2033-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA ST MED CARE COM | North Carolina Medical Care Commission                                           | CUSIP: 65820YSV9<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    380000 | PA      | $396973.23    | 0.64%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET WASHINGTON DC ARPTS AUTH A | Metropolitan Washington Airports Authority Aviation Revenue                      | CUSIP: 592647LY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $704088.39    | 1.14%             | 2040-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BUILD NYC RESOURCE CORP NY REV | Build NYC Resource Corp                                                          | CUSIP: 12008ETX4<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    750000 | PA      | $757849.13    | 1.23%             | 2052-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST JOBS-ECON DE | South Carolina Jobs-Economic Development Authority                               | CUSIP: 83703EMW2<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |    350000 | PA      | $386815.59    | 0.63%             | 2042-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| VOLUSIA CNTY FL EDUCTNL FAC AU | Volusia County Educational Facility Authority                                    | CUSIP: 928836MZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $407042.00    | 0.66%             | 2036-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IDAHO ST HLTH FACS AUTH REVENU | Idaho Health Facilities Authority                                                | CUSIP: 451295ZT9<br>LEI: 549300X43KY1C2WW0J97 | Long             | DBT              | MUN               | US        |    505000 | PA      | $535598.71    | 0.87%             | 2034-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KENTUCKY ST PROPERTY & BLDGS C | Kentucky State Property & Building Commission                                    | CUSIP: 49151FY87<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $280071.00    | 0.45%             | 2042-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CANTON TX INDEP SCH DIST       | Canton Independent School District/TX                                            | CUSIP: 138555RD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $334125.84    | 0.54%             | 2042-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| KERN CA CMNTY CLG DIST         | Kern Community College District                                                  | CUSIP: 492244GS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1117904.60   | 1.81%             | 2040-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING COR | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                           | CUSIP: 74529JPU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     77000 | PA      | $77020.99     | 0.12%             | 2034-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| LAKEWOOD RANCH FL STEWARDSHIP  | Lakewood Ranch Stewardship District Utility Revenue                              | CUSIP: 51265LAT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1054861.80   | 1.71%             | 2048-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PASCO CNTY FL SCH BRD COPS     | Pasco County School Board                                                        | CUSIP: 702528NB2<br>LEI: 549300NYEDMC7IDJPE68 | Long             | DBT              | MUN               | US        |    285000 | PA      | $312452.11    | 0.51%             | 2037-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY R | Massachusetts Development Finance Agency                                         | CUSIP: 57585BMP0<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |    390000 | PA      | $429711.71    | 0.70%             | 2041-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ST SMALL BUSINESS FIN | Virginia Small Business Financing Authority                                      | CUSIP: 928105CE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $556112.85    | 0.90%             | 2038-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BROWARD CNTY FL PORT FACS REVE | County of Broward FL Port Facilities Revenue                                     | CUSIP: 11506KGV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    320000 | PA      | $344554.59    | 0.56%             | 2038-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST ECON DEV CORP      | Maryland Economic Development Corp                                               | CUSIP: 574205GR5<br>LEI: 549300JJ16DDBSZWSN94 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1030333.70   | 1.67%             | 2036-10-01      | Variable      | 4.10%                 | No            |                  2 | On Loan: No      |
| FULTON CNTY GA RSDL CARE FACS  | Fulton County Residential Care Facilities for the Elderly Authority              | CUSIP: 360059AL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $503839.30    | 0.82%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JACKSONVILLE PUBLIC EDUCTNL BL | Jacksonville Public Educational Building Authority                               | CUSIP: 469480BT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $526166.45    | 0.85%             | 2044-08-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST POLL CONTROL FIN | California Pollution Control Financing Authority                                 | CUSIP: 13054WBB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $270312.35    | 0.44%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH STUDENT HS | Indiana Finance Authority                                                        | CUSIP: 45471FAX9<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    500000 | PA      | $503057.50    | 0.82%             | 2054-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                    | State of Illinois                                                                | CUSIP: 4521526L0<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    500000 | PA      | $535680.50    | 0.87%             | 2039-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING  | Pennsylvania Economic Development Financing Authority                            | CUSIP: 70868YAN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1091218.70   | 1.77%             | 2037-06-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FOREST LAKE CMNTY DEV DIST FL  | Forest Lake Community Development District                                       | CUSIP: 34585PAC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $477534.85    | 0.77%             | 2040-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHARLOTTE CNTY FL INDL DEV AUT | Charlotte County Industrial Development Authority/FL                             | CUSIP: 16080TAK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $520908.65    | 0.84%             | 2045-10-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| FIELDS ESTATES PUBLIC INFRASTR | Fields Estates Public Infrastructure District                                    | CUSIP: 31657CAA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $491855.95    | 0.80%             | 2053-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MONTGOMERY CNTY OH HLTH CARE F | County of Montgomery OH                                                          | CUSIP: 613518DH9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $516465.55    | 0.84%             | 2049-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BURKE CNTY GA DEV AUTH POLL CO | Development Authority of Burke County/The                                        | CUSIP: 121342PQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500000.00    | 0.81%             | 2052-11-01      | Variable      | 3.95%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST JOBS-ECON DE | South Carolina Jobs-Economic Development Authority                               | CUSIP: 837031WH2<br>LEI: 5493006X47I9VG3DL112 | Long             | DBT              | MUN               | US        |    205000 | PA      | $204184.41    | 0.33%             | 2027-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL GAS INC GA | Main Street Natural Gas Inc                                                      | CUSIP: 56035DDX7<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    500000 | PA      | $514171.20    | 0.83%             | 2052-09-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| IOWA ST FIN AUTH MIDWSTRN DISA | Iowa Finance Authority                                                           | CUSIP: 46246SAV7<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |    500000 | PA      | $576272.90    | 0.93%             | 2050-12-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| UNION CNTY OR HOSP FAC AUTH    | Union County Hospital Facility Authority                                         | CUSIP: 906420CF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $510134.90    | 0.83%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING  | Pennsylvania Economic Development Financing Authority                            | CUSIP: 708692BV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $499656.60    | 0.81%             | 2049-04-01      | Variable      | 3.85%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-19

**Name of Applicant:** First Trust Series Fund

**Signature:** Derek Maltbie

**Name of Signer:** Derek Maltbie

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