# EDGAR Filing Document

**Accession Number:** 0001424212
**File Stem:** 0001752724-25-155852
**Filing Date:** 2025-6
**Character Count:** 115931
**Document Hash:** ca42b20de1c2351be0f62d445594e056
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-155852.hdr.sgml**: 20250625

**ACCESSION NUMBER**: 0001752724-25-155852

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250625

**DATE AS OF CHANGE**: 20250625

**PERIOD START**: 20250731

**FILER**: 

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

**ORGANIZATION NAME:**
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22245
- **FILM NUMBER:** 251072773

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

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

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

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

## Series and Classes Contracts Data

### First Trust Horizon Managed Volatility Developed International ETF (Series ID: S000054959)

| Class ID   | Class Name                                                         | Ticker Symbol   |
|:---|:---|:---|
| C000172840 | First Trust Horizon Managed Volatility Developed International ETF | HDMV            |

## Nport-Ex

**First Trust Horizon Managed Volatility Domestic ETF (HUSV)**

**Portfolio of Investments**

**April 30, 2025 (Unaudited)**

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

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS — 99.8%** | **COMMON STOCKS — 99.8%** | **COMMON STOCKS — 99.8%** |
|  | **Aerospace & Defense — 1.6%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1391 | Northrop Grumman Corp. | $676721 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7414 | RTX Corp. | 935128 |
|  |  | 1611849 |
|  | **Beverages — 5.0%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34547 | Coca-Cola (The) Co. | 2506385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39802 | Keurig Dr Pepper, Inc. | 1376751 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7665 | PepsiCo, Inc. | 1039221 |
|  |  | 4922357 |
|  | **Capital Markets — 4.9%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5072 | CME Group, Inc. | 1405350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10886 | Intercontinental Exchange, Inc. | 1828522 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3268 | S&P Global, Inc. | 1634163 |
|  |  | 4868035 |
|  | **Chemicals — 3.7%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5337 | Linde PLC | 2418889 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5943 | &nbsp;&nbsp;&nbsp; LyondellBasell Industries N.V., <br> Class A | 345942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8385 | PPG Industries, Inc. | 912791 |
|  |  | 3677622 |
|  | **Commercial Services &** <br> **Supplies — 5.3%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11035 | Republic Services, Inc. | 2767026 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10131 | Veralto Corp. | 971563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6241 | Waste Management, Inc. | 1456400 |
|  |  | 5194989 |
|  | **Communications Equipment** <br> **— 4.2%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36122 | Cisco Systems, Inc. | 2085323 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4744 | Motorola Solutions, Inc. | 2089210 |
|  |  | 4174533 |
|  | **Containers & Packaging —** <br> **1.0%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5624 | Avery Dennison Corp. | 962323 |
|  | **Diversified Telecommunication** <br> **Services — 0.8%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17939 | Verizon Communications, Inc. | 790392 |
|  | **Electric Utilities — 7.2%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11235 | Duke Energy Corp. | 1370895 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34882 | Evergy, Inc. | 2410346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43034 | FirstEnergy Corp. | 1845298 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40804 | PPL Corp. | 1489346 |
|  |  | 7115885 |
|  | **Electronic Equipment,** <br> **Instruments & Components** <br>**— 3.5%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11856 | TE Connectivity PLC | 1735481 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3659 | Teledyne Technologies, Inc. (a) | 1705204 |
|  |  | 3440685 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
|  | **Financial Services — 6.3%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4139 | &nbsp;&nbsp;&nbsp; Berkshire Hathaway, Inc., <br> Class B (a) | $2207122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7397 | Jack Henry & Associates, Inc. | 1282861 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2429 | Mastercard, Inc., Class A | 1331238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3996 | Visa, Inc., Class A | 1380618 |
|  |  | 6201839 |
|  | **Gas Utilities — 2.0%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12032 | Atmos Energy Corp. | 1932700 |
|  | **Health Care Equipment &** <br> **Supplies — 4.7%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7532 | Abbott Laboratories | 984809 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4628 | Becton Dickinson & Co. | 958413 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8770 | Boston Scientific Corp. (a) | 902170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9591 | Hologic, Inc. (a) | 558196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7512 | Medtronic PLC | 636717 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1562 | Stryker Corp. | 584063 |
|  |  | 4624368 |
|  | **Health Care Providers &** <br> **Services — 2.1%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4446 | Cencora, Inc. | 1301211 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4314 | Quest Diagnostics, Inc. | 768841 |
|  |  | 2070052 |
|  | **Hotels, Restaurants & Leisure** <br> **— 3.3%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2520 | Hilton Worldwide Holdings, Inc. | 568209 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4458 | McDonald's Corp. | 1425000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8518 | Yum! Brands, Inc. | 1281448 |
|  |  | 3274657 |
|  | **Household Products — 4.6%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18421 | Colgate-Palmolive Co. | 1698232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11086 | Kimberly-Clark Corp. | 1460913 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8149 | Procter & Gamble (The) Co. | 1324783 |
|  |  | 4483928 |
|  | **Industrial Conglomerates —** <br> **0.9%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3991 | Honeywell International, Inc. | 840105 |
|  | **Insurance — 5.5%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2842 | Aon PLC, Class A | 1008313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10209 | Brown & Brown, Inc. | 1129116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10122 | Marsh & McLennan Cos., Inc. | 2282207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3251 | Willis Towers Watson PLC | 1000658 |
|  |  | 5420294 |
|  | **IT Services — 6.2%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24174 | &nbsp;&nbsp;&nbsp; Cognizant Technology Solutions <br> Corp., Class A | 1778481 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6678 | &nbsp;&nbsp;&nbsp; International Business Machines <br> Corp. | 1614874 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9749 | VeriSign, Inc. (a) | 2750388 |
|  |  | 6143743 |

---

------

**First Trust Horizon Managed Volatility Domestic ETF (HUSV)**

**Portfolio of Investments (Continued)**

**April 30, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (Continued)** | **COMMON STOCKS (Continued)** | **COMMON STOCKS (Continued)** |
|  | **Machinery — 2.8%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6779 | Illinois Tool Works, Inc. | $1626350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12228 | Otis Worldwide Corp. | 1177189 |
|  |  | 2803539 |
|  | **Media — 0.6%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18752 | News Corp., Class B | 589188 |
|  | **Multi-Utilities — 4.6%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22940 | CMS Energy Corp. | 1689531 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39663 | NiSource, Inc. | 1551220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11950 | WEC Energy Group, Inc. | 1308764 |
|  |  | 4549515 |
|  | **Oil, Gas & Consumable Fuels** <br> **— 1.6%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4550 | Chevron Corp. | 619073 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2524 | EOG Resources, Inc. | 278473 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6479 | Exxon Mobil Corp. | 684377 |
|  |  | 1581923 |
|  | **Pharmaceuticals — 1.4%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8607 | Johnson & Johnson | 1345360 |
|  | **Professional Services — 4.0%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6818 | Automatic Data Processing, Inc. | 2049491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4273 | &nbsp;&nbsp;&nbsp; Broadridge Financial Solutions, <br> Inc. | 1035775 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6102 | Paychex, Inc. | 897726 |
|  |  | 3982992 |
|  | **Retail REITs — 3.0%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8566 | Federal Realty Investment Trust | 805375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19415 | Realty Income Corp. | 1123352 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14748 | Regency Centers Corp. | 1064511 |
|  |  | 2993238 |
|  | **Software — 5.2%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4313 | Microsoft Corp. | 1704757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8960 | PTC, Inc. (a) | 1388531 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3650 | Roper Technologies, Inc. | 2044292 |
|  |  | 5137580 |
|  | **Specialized REITs — 0.9%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26570 | VICI Properties, Inc. | 850771 |
|  | **Specialty Retail — 2.9%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 149 | AutoZone, Inc. (a) | 560627 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 949 | Home Depot (The), Inc. | 342105 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 636 | O'Reilly Automotive, Inc. (a) | 900067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8482 | TJX (The) Cos., Inc. | 1091464 |
|  |  | 2894263 |
|  | **Total Common Stocks** | 98478725 |
|  | (Cost $90,144,842) |  |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **MONEY MARKET FUNDS — 0.2%** | **MONEY MARKET FUNDS — 0.2%** | **MONEY MARKET FUNDS — 0.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 163735 | &nbsp;&nbsp;&nbsp; Dreyfus Government Cash <br> Management Fund, <br> Institutional Shares - <br> 4.21% (b) | $163735 |
|  | (Cost $163,735) |  |
|  | **Total Investments — 100.0%** | 98642460 |
|  | (Cost $90,308,577) |  |
|  | **Net Other Assets and** <br> **Liabilities — 0.0%** | 118 |
|  | **Net Assets — 100.0%** | $98642578 |

---

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

&nbsp;&nbsp;&nbsp;&nbsp;(a) Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Rate shown reflects yield as of April 30, 2025.

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

Abbreviations throughout the Portfolio of Investments: <br> REITs – Real Estate Investment Trusts

------

**Valuation Inputs**

A summary of the inputs used to value the Fund's investments as of April 30, 2025 is as follows (see Valuation Inputs in the Additional Information section):

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total** <br>**Value at** <br>**4/30/2025**<br>| **Level 1** <br>**Quoted** <br>**Prices**<br>| **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| Common Stocks\* | $98478725 | $98478725 | $— | $— |
| Money Market Funds | &nbsp;&nbsp; 163735 | &nbsp;&nbsp; 163735 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Total Investments | $98642460 | $98642460 | $— | $— |

---

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

\* See Portfolio of Investments for industry breakout.

------

**First Trust Horizon Managed Volatility Developed International ETF (HDMV)**

**Portfolio of Investments**

**April 30, 2025 (Unaudited)**

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

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (a) (b) — 99.1%** | **COMMON STOCKS (a) (b) — 99.1%** | **COMMON STOCKS (a) (b) — 99.1%** |
|  | **Australia — 7.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6158 | &nbsp;&nbsp;&nbsp; ANZ Group Holdings Ltd. <br> (AUD) | $117783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21233 | Coles Group Ltd. (AUD) | 288608 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1356 | CSL Ltd. (AUD) | 218128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 56038 | Lottery (The) Corp., Ltd. (AUD) | 187372 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 610 | Macquarie Group Ltd. (AUD) | 75588 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42009 | Medibank Pvt Ltd. (AUD) | 125126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8511 | Orica Ltd. (AUD) | 88536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48075 | Scentre Group (AUD) | 111476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 131890 | Telstra Group Ltd. (AUD) | 381014 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9028 | &nbsp;&nbsp;&nbsp; Washington H Soul Pattinson & <br> Co., Ltd. (AUD) | 215181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4530 | Westpac Banking Corp. (AUD) | 95291 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7365 | Woolworths Group Ltd. (AUD) | 148936 |
|  |  | 2053039 |
|  | **Belgium — 2.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3682 | Ageas S.A./N.V. (EUR) | 230456 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4551 | &nbsp;&nbsp;&nbsp; Groupe Bruxelles Lambert N.V. <br> (EUR) | 373781 |
|  |  | 604237 |
|  | **Cayman Islands — 0.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24692 | &nbsp;&nbsp;&nbsp; CK Hutchison Holdings Ltd. <br> (HKD) | 139449 |
|  | **Denmark — 1.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2988 | Danske Bank A/S (DKK) | 104165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1299 | Novonesis Novozymes B (DKK) | 84004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8951 | Tryg A/S (DKK) | 213553 |
|  |  | 401722 |
|  | **France — 10.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 881 | Air Liquide S.A. (EUR) | 180206 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3666 | AXA S.A. (EUR) | 172641 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4417 | Bureau Veritas S.A. (EUR) | 139506 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7593 | Credit Agricole S.A. (EUR) | 141842 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5062 | Danone S.A. (EUR) | 435591 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21271 | Engie S.A. (EUR) | 438201 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 653 | EssilorLuxottica S.A. (EUR) | 186935 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11213 | Getlink SE (EUR) | 211880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9516 | Klepierre S.A. (EUR) | 347554 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20551 | Orange S.A. (EUR) | 297650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1368 | Sanofi S.A. (EUR) | 148620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1850 | TotalEnergies SE (EUR) | 107220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4241 | &nbsp;&nbsp;&nbsp; Veolia Environnement S.A. <br> (EUR) | 154606 |
|  |  | 2962452 |
|  | **Germany — 7.0%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 868 | Allianz SE (EUR) | 358024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 979 | Beiersdorf AG (EUR) | 137523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 933 | Deutsche Boerse AG (EUR) | 299645 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7769 | Deutsche Telekom AG (EUR) | 278115 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
|  | **Germany (Continued)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8053 | E.ON SE (EUR) | $140629 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5007 | Evonik Industries AG (EUR) | 112025 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2013 | &nbsp;&nbsp;&nbsp; Fresenius SE & Co. KGaA <br> (EUR) (c) | 95322 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3470 | GEA Group AG (EUR) | 225246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 298 | Hannover Rueck SE (EUR) | 95335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1084 | Scout24 SE (EUR) (d) (e) | 128573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1479 | Symrise AG (EUR) | 170145 |
|  |  | 2040582 |
|  | **Hong Kong — 3.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34932 | &nbsp;&nbsp;&nbsp; BOC Hong Kong Holdings Ltd. <br> (HKD) | 145032 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45842 | CLP Holdings Ltd. (HKD) | 391888 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 192470 | &nbsp;&nbsp;&nbsp; Hong Kong & China Gas Co., <br> Ltd. (HKD) | 173470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20590 | &nbsp;&nbsp;&nbsp; Power Assets Holdings Ltd. <br> (HKD) | 136327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125233 | Sino Land Co., Ltd. (HKD) | 128856 |
|  |  | 975573 |
|  | **Ireland — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 813 | &nbsp;&nbsp;&nbsp; Kerry Group PLC, Class A <br> (EUR) | 85884 |
|  | **Israel — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 235 | &nbsp;&nbsp;&nbsp; Check Point Software <br> Technologies Ltd. (c) | 51597 |
|  | **Italy — 5.6%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28240 | Enel S.p.A. (EUR) | 244544 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12526 | Eni S.p.A. (EUR) | 180214 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4641 | Generali (EUR) | 168978 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15633 | &nbsp;&nbsp;&nbsp; Infrastrutture Wireless Italiane <br> S.p.A. (EUR) (d) (e) | 186662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12682 | &nbsp;&nbsp;&nbsp; Poste Italiane S.p.A. <br> (EUR) (d) (e) | 256303 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50331 | Snam S.p.A. (EUR) | 288508 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30057 | &nbsp;&nbsp;&nbsp; Terna-Rete Elettrica Nazionale <br> (EUR) | 298551 |
|  |  | 1623760 |
|  | **Japan — 9.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3300 | Aeon Co., Ltd. (JPY) | 97560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7600 | ANA Holdings, Inc. (JPY) | 145430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8300 | Astellas Pharma, Inc. (JPY) | 82866 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4400 | Central Japan Railway Co. (JPY) | 90197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1100 | &nbsp;&nbsp;&nbsp; Daito Trust Construction Co., <br> Ltd. (JPY) | 122017 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2400 | &nbsp;&nbsp;&nbsp; Daiwa House Industry Co., Ltd. <br> (JPY) | 86530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3500 | &nbsp;&nbsp;&nbsp; Hankyu Hanshin Holdings, Inc. <br> (JPY) | 99580 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6100 | Japan Airlines Co., Ltd. (JPY) | 110135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7000 | JFE Holdings, Inc. (JPY) | 81270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2000 | Kao Corp. (JPY) | 85425 |

---

------

**First Trust Horizon Managed Volatility Developed International ETF (HDMV)**

**Portfolio of Investments (Continued)**

**April 30, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (a) (b) (Continued)** | **COMMON STOCKS (a) (b) (Continued)** | **COMMON STOCKS (a) (b) (Continued)** |
|  | **Japan (Continued)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7200 | KDDI Corp. (JPY) | $127075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9700 | Kirin Holdings Co., Ltd. (JPY) | 146470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3200 | &nbsp;&nbsp;&nbsp; McDonald's Holdings Co., Japan <br> Ltd. (JPY) | 134956 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6800 | MEIJI Holdings Co., Ltd. (JPY) | 167123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 162000 | &nbsp;&nbsp;&nbsp; Nippon Telegraph & Telephone <br> Corp. (JPY) | 169161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2400 | Obic Co., Ltd. (JPY) | 83777 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9900 | &nbsp;&nbsp;&nbsp; Ono Pharmaceutical Co., Ltd. <br> (JPY) | 113693 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4400 | Otsuka Corp. (JPY) | 97583 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1300 | Otsuka Holdings Co., Ltd. (JPY) | 63254 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2500 | Secom Co., Ltd. (JPY) | 91761 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 131100 | SoftBank Corp. (JPY) | 197961 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5900 | &nbsp;&nbsp;&nbsp; Takeda Pharmaceutical Co., Ltd. <br> (JPY) | 178799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7500 | Tokyu Corp. (JPY) | 91167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4100 | Yakult Honsha Co., Ltd. (JPY) | 84090 |
|  |  | 2747880 |
|  | **Netherlands — 8.4%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2402 | ASR Nederland N.V. (EUR) | 150749 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1285 | Euronext N.V. (EUR) (d) (e) | 213990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1599 | EXOR N.V. (EUR) | 150167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2711 | Ferrovial SE (EUR) | 131691 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2655 | Heineken Holding N.V. (EUR) | 206931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1832 | Heineken N.V. (EUR) | 163332 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8396 | &nbsp;&nbsp;&nbsp; Koninklijke Ahold Delhaize <br> N.V. (EUR) | 343742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 131254 | Koninklijke KPN N.V. (EUR) | 608890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4564 | NN Group N.V. (EUR) | 278681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1168 | Wolters Kluwer N.V. (EUR) | 205686 |
|  |  | 2453859 |
|  | **New Zealand — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10352 | &nbsp;&nbsp;&nbsp; Auckland International Airport <br> Ltd. (NZD) | 46241 |
|  | **Norway — 1.1%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14885 | Orkla ASA (NOK) | 165398 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11031 | Telenor ASA (NOK) | 165623 |
|  |  | 331021 |
|  | **Singapore — 7.9%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 120600 | &nbsp;&nbsp;&nbsp; CapitaLand Ascendas REIT <br> (SGD) | 245614 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 130300 | &nbsp;&nbsp;&nbsp; CapitaLand Integrated <br> Commercial Trust (SGD) | 214490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4030 | &nbsp;&nbsp;&nbsp; DBS Group Holdings Ltd. <br> (SGD) | 130980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40400 | Keppel Ltd. (SGD) | 202913 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22200 | &nbsp;&nbsp;&nbsp; Oversea-Chinese Banking Corp., <br> Ltd. (SGD) | 274504 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 59200 | Singapore Airlines Ltd. (SGD) | 304136 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
|  | **Singapore (Continued)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17000 | Singapore Exchange Ltd. (SGD) | $186908 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45100 | &nbsp;&nbsp;&nbsp; Singapore Technologies <br> Engineering Ltd. (SGD) | 255869 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52300 | &nbsp;&nbsp;&nbsp; Singapore Telecommunications <br> Ltd. (SGD) | 151362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7500 | &nbsp;&nbsp;&nbsp; United Overseas Bank Ltd. <br> (SGD) | 198913 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60800 | Wilmar International Ltd. (SGD) | 142445 |
|  |  | 2308134 |
|  | **Spain — 5.5%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2061 | &nbsp;&nbsp;&nbsp; ACS Actividades de <br> Construccion y Servicios S.A. <br> (EUR) | 128648 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 960 | Aena SME S.A. (EUR) (d) (e) | 240780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1718 | Amadeus IT Group S.A. (EUR) | 134641 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4886 | Endesa S.A. (EUR) | 146680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14732 | Iberdrola S.A. (EUR) | 265274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10326 | Redeia Corp. S.A. (EUR) | 216409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11982 | Repsol S.A. (EUR) | 146733 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 65571 | Telefonica S.A. (EUR) | 335606 |
|  |  | 1614771 |
|  | **Sweden — 4.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1736 | Alfa Laval AB (SEK) | 71861 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3368 | Assa Abloy AB, Class B (SEK) | 101610 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5296 | Essity AB, Class B (SEK) | 152543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2657 | Holmen AB, Class B (SEK) | 105175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3194 | &nbsp;&nbsp;&nbsp; Industrivarden AB, Class A <br> (SEK) | 112024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3491 | &nbsp;&nbsp;&nbsp; Industrivarden AB, Class C <br> (SEK) | 122332 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5916 | Investor AB, Class B (SEK) | 174625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2666 | &nbsp;&nbsp;&nbsp; L E Lundbergforetagen AB, <br> Class B (SEK) | 140533 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6342 | Tele2 AB, Class B (SEK) | 93337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40221 | Telia Co., AB (SEK) | 150431 |
|  |  | 1224471 |
|  | **Switzerland — 14.7%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1491 | Alcon AG (CHF) | 143906 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1205 | &nbsp;&nbsp;&nbsp; Banque Cantonale Vaudoise <br> (CHF) | 148043 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 660 | BKW AG (CHF) | 132344 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4649 | Coca-Cola HBC AG (GBP) | 241632 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1262 | Helvetia Holding AG (CHF) | 277216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1224 | Holcim AG (CHF) | 135843 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2324 | Nestle S.A. (CHF) | 247056 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2665 | Novartis AG (CHF) | 302842 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 447 | Roche Holding AG (CHF) | 145850 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 775 | Schindler Holding AG (CHF) | 282450 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 492 | Swiss Life Holding AG (CHF) | 490003 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4417 | Swiss Prime Site AG (CHF) | 622399 |

---

------

**First Trust Horizon Managed Volatility Developed International ETF (HDMV)**

**Portfolio of Investments (Continued)**

**April 30, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (a) (b) (Continued)** | **COMMON STOCKS (a) (b) (Continued)** | **COMMON STOCKS (a) (b) (Continued)** |
|  | **Switzerland (Continued)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 901 | Swisscom AG (CHF) | $600412 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 757 | &nbsp;&nbsp;&nbsp; Zurich Insurance Group AG <br> (CHF) | 534170 |
|  |  | 4304166 |
|  | **United Kingdom — 10.2%** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17140 | Aviva PLC (GBP) | 127917 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3454 | Bunzl PLC (GBP) | 108173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2770 | &nbsp;&nbsp;&nbsp; Coca-Cola Europacific <br> Partners PLC | 251350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10998 | Compass Group PLC (GBP) | 369062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 58756 | Haleon PLC (GBP) | 294735 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14113 | Informa PLC (GBP) | 136887 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1077 | &nbsp;&nbsp;&nbsp; InterContinental Hotels <br> Group PLC (GBP) | 113992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2277 | &nbsp;&nbsp;&nbsp; London Stock Exchange <br> Group PLC (GBP) | 352766 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54973 | M&G PLC (GBP) | 151946 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9883 | National Grid PLC (GBP) | 142642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4373 | RELX PLC (GBP) | 237020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4366 | Shell PLC (GBP) | 142002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43726 | Tesco PLC (GBP) | 216019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5403 | Unilever PLC (GBP) | 342674 |
|  |  | 2987185 |
|  | **Total Common Stocks** | 28956023 |
|  | (Cost $25,180,169) |  |
| **MONEY MARKET FUNDS — 0.5%** | **MONEY MARKET FUNDS — 0.5%** | **MONEY MARKET FUNDS — 0.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 159845 | &nbsp;&nbsp;&nbsp; Dreyfus Government Cash <br> Management Fund, <br> Institutional Shares - <br> 4.21% (f) | 159845 |
|  | (Cost $159,845) |  |
|  | **Total Investments — 99.6%** | 29115868 |
|  | (Cost $25,340,014) |  |
|  | **Net Other Assets and** <br> **Liabilities — 0.4%** | 102722 |
|  | **Net Assets — 100.0%** | $29218590 |

---

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

&nbsp;&nbsp;&nbsp;&nbsp;(a) Portfolio securities are categorized based upon their country of incorporation. For a breakdown of the portfolio securities by sector, please see the Sector Allocation table.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Securities are issued in U.S. dollars unless otherwise indicated in the security description.

&nbsp;&nbsp;&nbsp;&nbsp;(c) Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(d) 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.

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

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

&nbsp;&nbsp;&nbsp;&nbsp;(f) Rate shown reflects yield as of April 30, 2025.

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

---

| | |
|:---|:---|
| Abbreviations throughout the Portfolio of Investments: | Abbreviations throughout the Portfolio of Investments: |
| AUD | – Australian Dollar |
| CHF | – Swiss Franc |
| DKK | – Danish Krone |
| EUR | – Euro |
| GBP | – British Pound Sterling |
| HKD | – Hong Kong Dollar |
| JPY | – Japanese Yen |
| NOK | – Norwegian Krone |
| NZD | – New Zealand Dollar |
| SEK | – Swedish Krona |
| SGD | – Singapore Dollar |
| USD | – United States Dollar |

---

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

---

| | |
|:---|:---|
| **Sector Allocation** | **% of Total** <br>**Investments**<br>|
| Financials | &nbsp;&nbsp; 25.4% |
| Consumer Staples | &nbsp;&nbsp; 14.3 |
| Communication Services | &nbsp;&nbsp; 13.8 |
| Industrials | &nbsp;&nbsp; 12.6 |
| Utilities | &nbsp;&nbsp; 10.9 |
| Health Care | &nbsp;&nbsp;&nbsp; 6.8 |
| Real Estate | &nbsp;&nbsp;&nbsp; 6.4 |
| Materials | &nbsp;&nbsp;&nbsp; 3.3 |
| Consumer Discretionary | &nbsp;&nbsp;&nbsp; 3.2 |
| All Other | &nbsp;&nbsp;&nbsp; 3.3 |
| &nbsp;&nbsp;&nbsp; Total | 100.0% |

---

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

---

| | |
|:---|:---|
| **Currency Exposure Diversification** | **% of Total** <br>**Investments**<br>|
| EUR | &nbsp;&nbsp; 39.1% |
| CHF | &nbsp;&nbsp; 14.0 |
| GBP | &nbsp;&nbsp; 10.2 |
| JPY | &nbsp;&nbsp;&nbsp; 9.4 |
| SGD | &nbsp;&nbsp;&nbsp; 7.9 |
| AUD | &nbsp;&nbsp;&nbsp; 7.1 |
| SEK | &nbsp;&nbsp;&nbsp; 4.2 |
| HKD | &nbsp;&nbsp;&nbsp; 3.8 |
| USD | &nbsp;&nbsp;&nbsp; 1.6 |
| DKK | &nbsp;&nbsp;&nbsp; 1.4 |
| NOK | &nbsp;&nbsp;&nbsp; 1.1 |
| NZD | &nbsp;&nbsp;&nbsp; 0.2 |
| &nbsp;&nbsp;&nbsp; Total | 100.0% |

---

------

**First Trust Horizon Managed Volatility Developed International ETF (HDMV)**

**Portfolio of Investments (Continued)**

**April 30, 2025 (Unaudited)**

------

**Valuation Inputs**

A summary of the inputs used to value the Fund's investments as of April 30, 2025 is as follows (see Valuation Inputs in the Additional Information section):

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total** <br>**Value at** <br>**4/30/2025**<br>| **Level 1** <br>**Quoted** <br>**Prices**<br>| **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| Common Stocks\* | $28956023 | $28956023 | $— | $— |
| Money Market Funds | &nbsp;&nbsp; 159845 | &nbsp;&nbsp; 159845 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Total Investments | $29115868 | $29115868 | $— | $— |

---

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

\* See Portfolio of Investments for country breakout.

------

**First Trust Horizon Managed Volatility Small/Mid ETF (HSMV)**

**Portfolio of Investments**

**April 30, 2025 (Unaudited)**

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

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS — 99.5%** | **COMMON STOCKS — 99.5%** | **COMMON STOCKS — 99.5%** |
|  | **Aerospace & Defense — 1.1%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 654 | BWX Technologies, Inc. | $71364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 212 | Curtiss-Wright Corp. | 73117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1628 | Hexcel Corp. | 78909 |
|  |  | 223390 |
|  | **Automobile Components —** <br> **1.3%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1007 | Autoliv, Inc. | 93883 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7870 | Gentex Corp. | 171408 |
|  |  | 265291 |
|  | **Banks — 0.9%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1695 | Commerce Bancshares, Inc. | 102955 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1207 | Prosperity Bancshares, Inc. | 81955 |
|  |  | 184910 |
|  | **Building Products — 0.4%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 231 | Carlisle Cos., Inc. | 87660 |
|  | **Capital Markets — 4.1%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 487 | Affiliated Managers Group, Inc. | 80662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5743 | Federated Hermes, Inc. | 233223 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2201 | Janus Henderson Group PLC | 73095 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 594 | Jefferies Financial Group, Inc. | 27758 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 647 | Morningstar, Inc. | 184214 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2740 | SEI Investments Co. | 214514 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 517 | Stifel Financial Corp. | 44302 |
|  |  | 857768 |
|  | **Chemicals — 2.2%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1290 | Ashland, Inc. | 70163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 947 | Balchem Corp. | 148253 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 715 | Innospec, Inc. | 63978 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1705 | RPM International, Inc. | 182009 |
|  |  | 464403 |
|  | **Commercial Services &** <br> **Supplies — 1.9%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2056 | ABM Industries, Inc. | 100209 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 387 | Clean Harbors, Inc. (a) | 82795 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1343 | MSA Safety, Inc. | 211415 |
|  |  | 394419 |
|  | **Construction & Engineering** <br> **— 0.7%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1549 | AECOM | 152809 |
|  | **Consumer Finance — 0.5%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 852 | FirstCash Holdings, Inc. | 114134 |
|  | **Consumer Staples Distribution** <br> **& Retail — 1.6%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 928 | &nbsp;&nbsp;&nbsp; BJ's Wholesale Club Holdings, <br> Inc. (a) | 109096 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 255 | Casey's General Stores, Inc. | 117960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1455 | Performance Food Group Co. (a) | 117360 |
|  |  | 344416 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
|  | **Containers & Packaging —** <br> **4.3%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2901 | AptarGroup, Inc. | $435005 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4965 | Graphic Packaging Holding Co. | 125664 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2181 | Silgan Holdings, Inc. | 112649 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5790 | Sonoco Products Co. | 237390 |
|  |  | 910708 |
|  | **Diversified Consumer Services** <br> **— 1.9%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 560 | &nbsp;&nbsp;&nbsp; Grand Canyon Education, <br> Inc. (a) | 99887 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1653 | H&R Block, Inc. | 99792 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2508 | Service Corp. International | 200389 |
|  |  | 400068 |
|  | **Diversified REITs — 1.2%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3739 | &nbsp;&nbsp;&nbsp; Essential Properties Realty Trust, <br> Inc. | 120284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2039 | WP Carey, Inc. | 127315 |
|  |  | 247599 |
|  | **Electric Utilities — 5.5%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2242 | IDACORP, Inc. | 264758 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6630 | OGE Energy Corp. | 300869 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7617 | Portland General Electric Co. | 320828 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5190 | TXNM Energy, Inc. | 276108 |
|  |  | 1162563 |
|  | **Electronic Equipment,** <br> **Instruments & Components** <br>**— 1.3%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 906 | Arrow Electronics, Inc. (a) | 100892 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2460 | Avnet, Inc. | 115596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 362 | Littelfuse, Inc. | 65996 |
|  |  | 282484 |
|  | **Entertainment — 1.6%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1734 | &nbsp;&nbsp;&nbsp; Madison Square Garden Sports <br> Corp. (a) | 333916 |
|  | **Financial Services — 2.0%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1893 | Essent Group Ltd. | 107768 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4403 | MGIC Investment Corp. | 109679 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 553 | Mr. Cooper Group, Inc. (a) | 65812 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2315 | NMI Holdings, Inc. (a) | 83734 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1882 | Radian Group, Inc. | 60111 |
|  |  | 427104 |
|  | **Food Products — 4.9%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16032 | Flowers Foods, Inc. | 282003 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 908 | Ingredion, Inc. | 120601 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 953 | J & J Snack Foods Corp. | 123499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 477 | Lancaster Colony Corp. | 77646 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3904 | Post Holdings, Inc. (a) | 441816 |
|  |  | 1045565 |
|  | **Gas Utilities — 3.9%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1245 | Chesapeake Utilities Corp. | 163929 |

---

------

**First Trust Horizon Managed Volatility Small/Mid ETF (HSMV)**

**Portfolio of Investments (Continued)**

**April 30, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (Continued)** | **COMMON STOCKS (Continued)** | **COMMON STOCKS (Continued)** |
|  | **Gas Utilities (Continued)**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2311 | MDU Resources Group, Inc. | $39610 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2404 | National Fuel Gas Co. | 184579 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5272 | New Jersey Resources Corp. | 258012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2211 | ONE Gas, Inc. | 173586 |
|  |  | 819716 |
|  | **Ground Transportation —** <br> **1.0%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 932 | Landstar System, Inc. | 125028 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 595 | Ryder System, Inc. | 81913 |
|  |  | 206941 |
|  | **Health Care Providers &** <br> **Services — 2.8%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 255 | Chemed Corp. | 148285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2257 | Encompass Health Corp. | 264047 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1357 | Ensign Group (The), Inc. | 175039 |
|  |  | 587371 |
|  | **Health Care REITs — 1.9%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1233 | CareTrust REIT, Inc. | 36090 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1970 | Healthcare Realty Trust, Inc. | 30594 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3980 | LTC Properties, Inc. | 142763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3776 | Omega Healthcare Investors, Inc. | 147453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1944 | Sabra Health Care REIT, Inc. | 34700 |
|  |  | 391600 |
|  | **Hotels, Restaurants & Leisure** <br> **— 1.4%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1013 | Choice Hotels International, Inc. | 127749 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1258 | Churchill Downs, Inc. | 113736 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 446 | Vail Resorts, Inc. | 62083 |
|  |  | 303568 |
|  | **Household Products — 0.5%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3790 | Energizer Holdings, Inc. | 102482 |
|  | **Independent Power and** <br> **Renewable Electricity** <br>**Producers — 0.2%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 686 | Ormat Technologies, Inc. | 49804 |
|  | **Industrial REITs — 2.0%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 685 | EastGroup Properties, Inc. | 111943 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2225 | First Industrial Realty Trust, Inc. | 105865 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6518 | LXP Industrial Trust | 51427 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 798 | Rexford Industrial Realty, Inc. | 26414 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3522 | STAG Industrial, Inc. | 116332 |
|  |  | 411981 |
|  | **Insurance — 6.7%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1369 | American Financial Group, Inc. | 173398 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 932 | Assured Guaranty Ltd. | 81764 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1350 | CNO Financial Group, Inc. | 51219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2669 | Fidelity National Financial, Inc. | 170950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2138 | First American Financial Corp. | 130012 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
|  | **Insurance (Continued)**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8112 | Old Republic International Corp. | $305011 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 672 | Primerica, Inc. | 176111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 475 | &nbsp;&nbsp;&nbsp; Reinsurance Group of America, <br> Inc. | 88972 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 265 | RenaissanceRe Holdings Ltd. | 64111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2484 | RLI Corp. | 183841 |
|  |  | 1425389 |
|  | **Machinery — 5.0%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 721 | AGCO Corp. | 61162 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3949 | Donaldson Co., Inc. | 259568 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 797 | Federal Signal Corp. | 64900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1383 | Flowserve Corp. | 62553 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1209 | Franklin Electric Co., Inc. | 102716 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3288 | Graco, Inc. | 268334 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 688 | ITT, Inc. | 94270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 475 | Lincoln Electric Holdings, Inc. | 83695 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 679 | Oshkosh Corp. | 56873 |
|  |  | 1054071 |
|  | **Marine Transportation —** <br> **0.3%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 757 | Kirby Corp. (a) | 72952 |
|  | **Media — 0.9%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3690 | &nbsp;&nbsp;&nbsp; New York Times (The) Co., <br> Class A | 192101 |
|  | **Metals & Mining — 1.1%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 329 | Reliance, Inc. | 94828 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 738 | Royal Gold, Inc. | 134840 |
|  |  | 229668 |
|  | **Mortgage REITs — 6.7%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15425 | &nbsp;&nbsp;&nbsp; Annaly Capital Management, <br> Inc. | 302330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10979 | &nbsp;&nbsp;&nbsp; ARMOUR Residential REIT, <br> Inc. | 180824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31009 | Ellington Financial, Inc. | 404047 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20125 | &nbsp;&nbsp;&nbsp; PennyMac Mortgage Investment <br> Trust | 258405 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14289 | Starwood Property Trust, Inc. | 274206 |
|  |  | 1419812 |
|  | **Multi-Utilities — 2.7%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4267 | Avista Corp. | 176953 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3127 | Black Hills Corp. | 190434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3464 | &nbsp;&nbsp;&nbsp; Northwestern Energy Group, <br> Inc. | 201709 |
|  |  | 569096 |
|  | **Office REITs — 0.7%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5559 | COPT Defense Properties | 145146 |

---

------

**First Trust Horizon Managed Volatility Small/Mid ETF (HSMV)**

**Portfolio of Investments (Continued)**

**April 30, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
| **COMMON STOCKS (Continued)** | **COMMON STOCKS (Continued)** | **COMMON STOCKS (Continued)** |
|  | **Oil, Gas & Consumable Fuels** <br> **— 1.1%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9806 | Antero Midstream Corp. | $162290 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 721 | DT Midstream, Inc. | 70081 |
|  |  | 232371 |
|  | **Personal Care Products —** <br> **0.7%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4635 | Edgewell Personal Care Co. | 141599 |
|  | **Pharmaceuticals — 3.2%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19658 | Innoviva, Inc. (a) | 367408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 762 | Jazz Pharmaceuticals PLC (a) | 89124 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2631 | &nbsp;&nbsp;&nbsp; Prestige Consumer Healthcare, <br> Inc. (a) | 213716 |
|  |  | 670248 |
|  | **Professional Services — 3.2%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 729 | FTI Consulting, Inc. (a) | 121218 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1922 | Genpact Ltd. | 96600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1924 | KBR, Inc. | 101606 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1236 | Korn Ferry | 76261 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1492 | ManpowerGroup, Inc. | 64260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1980 | Maximus, Inc. | 132581 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 756 | &nbsp;&nbsp;&nbsp; Science Applications <br> International Corp. | 91499 |
|  |  | 684025 |
|  | **Residential REITs — 1.9%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6310 | &nbsp;&nbsp;&nbsp; American Homes 4 Rent, <br> Class A | 235931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1743 | Equity LifeStyle Properties, Inc. | 112911 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2548 | Independence Realty Trust, Inc. | 49508 |
|  |  | 398350 |
|  | **Retail REITs — 4.4%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2964 | Agree Realty Corp. | 230036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4261 | Brixmor Property Group, Inc. | 106142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4000 | Getty Realty Corp. | 111960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4806 | NNN REIT, Inc. | 197575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5236 | Phillips Edison & Co., Inc. | 181689 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6172 | Urban Edge Properties | 111528 |
|  |  | 938930 |
|  | **Software — 1.4%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1340 | &nbsp;&nbsp;&nbsp; Dolby Laboratories, Inc., <br> Class A | 102899 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 414 | InterDigital, Inc. | 83214 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1691 | Progress Software Corp. | 101392 |
|  |  | 287505 |
|  | **Specialized REITs — 5.1%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1430 | CubeSmart | 58158 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4356 | EPR Properties | 215579 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8600 | Four Corners Property Trust, Inc. | 240370 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5391 | &nbsp;&nbsp;&nbsp; Gaming and Leisure Properties, <br> Inc. | 258013 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | **Description** | **Value** |
|  | **Specialized REITs (Continued)**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1068 | Lamar Advertising Co., Class A | $121549 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 881 | National Storage Affiliates Trust | 32773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 742 | PotlatchDeltic Corp. | 28485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4878 | Rayonier, Inc. | 119316 |
|  |  | 1074243 |
|  | **Specialty Retail — 0.7%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 302 | Murphy USA, Inc. | 150568 |
|  | **Textiles, Apparel & Luxury** <br> **Goods — 0.4%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1507 | Columbia Sportswear Co. | 93690 |
|  | **Trading Companies &** <br> **Distributors — 0.9%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 778 | GATX Corp. | 113557 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1081 | &nbsp;&nbsp;&nbsp; MSC Industrial Direct Co., Inc., <br> Class A | 82675 |
|  |  | 196232 |
|  | **Water Utilities — 1.3%**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1860 | American States Water Co. | 150864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2532 | California Water Service Group | 128246 |
|  |  | 279110 |
|  | **Total Common Stocks** | 21027776 |
|  | (Cost $20,142,616) |  |
| **MONEY MARKET FUNDS — 0.5%** | **MONEY MARKET FUNDS — 0.5%** | **MONEY MARKET FUNDS — 0.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 106497 | &nbsp;&nbsp;&nbsp; Dreyfus Government Cash <br> Management Fund, <br> Institutional Shares - <br> 4.21% (b) | 106497 |
|  | (Cost $106,497) |  |
|  | **Total Investments — 100.0%** | 21134273 |
|  | (Cost $20,249,113) |  |
|  | **Net Other Assets and** <br> **Liabilities — 0.0%** | 2142 |
|  | **Net Assets — 100.0%** | $21136415 |

---

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

&nbsp;&nbsp;&nbsp;&nbsp;(a) Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Rate shown reflects yield as of April 30, 2025.

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

Abbreviations throughout the Portfolio of Investments: <br> REITs – Real Estate Investment Trusts

------

**First Trust Horizon Managed Volatility Small/Mid ETF (HSMV)**

**Portfolio of Investments (Continued)**

**April 30, 2025 (Unaudited)**

------

**Valuation Inputs**

A summary of the inputs used to value the Fund's investments as of April 30, 2025 is as follows (see Valuation Inputs in the Additional Information section):

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Total** <br>**Value at** <br>**4/30/2025**<br>| **Level 1** <br>**Quoted** <br>**Prices**<br>| **Level 2** <br>**Significant** <br>**Observable** <br>**Inputs**<br>| **Level 3** <br>**Significant** <br>**Unobservable** <br>**Inputs**<br>|
| Common Stocks\* | $21027776 | $21027776 | $— | $— |
| Money Market Funds | &nbsp;&nbsp; 106497 | &nbsp;&nbsp; 106497 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| Total Investments | $21134273 | $21134273 | $— | $— |

---

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

\* See Portfolio of Investments for industry breakout.

------

**First Trust Exchange-Traded Fund III**

**Additional Information**

**April 30, 2025 (Unaudited)**

**Valuation Inputs**

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

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 – Level 2 inputs are observable inputs, either directly or indirectly. (Quoted prices for similar investments, valuations based on interest rates and yield curves, or valuations derived from observable market data.)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – Level 3 inputs are unobservable inputs that may reflect the reporting entity's own assumptions about the assumptions that market participants would use in pricing the investment.

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

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Wheaton

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60187

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

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

- **a. Name of Series:** First Trust Horizon Managed Volatility Developed International ETF

- **b. EDGAR series identifier (if any):** S000054959

- **c. LEI of Series:** 549300DWE4QDWTZJV984

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

- **a. Date of fiscal year-end:** 2025-07-31

- **b. Date as of which information is reported:** 2025-04-30

**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:** $29352828.18

**Total Liabilities:** $134238.18

**Net Assets:** $29218590.00

**Cash Not Reported:** $6512.36

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000172840 | 3.95%                | 3.98%                | 6.67%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $468016.55               | $746724.81                                 |
| Month 2  | $224456.57               | $903719.03                                 |
| Month 3  | $1014751.80              | $683612.24                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Orkla ASA                          | Orkla ASA                                      | CUSIP: 000000000<br>LEI: 549300PZS8G8RG6RVZ52 | Long             | EC               | CORP              | NO        |     14885 | NS      | $165398.43    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| GEA Group AG                       | GEA Group AG                                   | CUSIP: 000000000<br>LEI: 549300PHUU0ZZWO8EO07 | Long             | EC               | CORP              | DE        |      3470 | NS      | $225245.55    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Woolworths Group Ltd               | Woolworths Group Ltd                           | CUSIP: 000000000<br>LEI: QNWEWQBS7HP85QHXQL92 | Long             | EC               | CORP              | AU        |      7365 | NS      | $148936.08    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| RELX PLC                           | RELX PLC                                       | CUSIP: 000000000<br>LEI: 549300WSX3VBUFFJOO66 | Long             | EC               | CORP              | GB        |      4373 | NS      | $237019.44    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Daito Trust Cons                   | Daito Trust Construction Co Ltd                | CUSIP: 000000000<br>LEI: 353800QQ4DRI3KXS3038 | Long             | EC               | CORP              | JP        |      1100 | NS      | $122017.07    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG                        | Novartis AG                                    | CUSIP: 000000000<br>LEI: 5493007HIVTX6SY6XD66 | Long             | EC               | CORP              | CH        |      2665 | NS      | $302841.64    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| JFE Holdings Inc                   | JFE Holdings Inc                               | CUSIP: 000000000<br>LEI: 3538002Y11Y03NA9B530 | Long             | EC               | CORP              | JP        |      7000 | NS      | $81270.11     | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Industrivarden AB                  | Industrivarden AB                              | CUSIP: 000000000<br>LEI: 549300TM1DLIQI3B3T37 | Long             | EC               | CORP              | SE        |      3491 | NS      | $122332.18    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Liquide SA                     | Air Liquide SA                                 | CUSIP: 000000000<br>LEI: 969500MMPQVHK671GT54 | Long             | EC               | CORP              | FR        |       881 | NS      | $180206.13    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| E.ON SE                            | E.ON SE                                        | CUSIP: 000000000<br>LEI: Q9MAIUP40P25UFBFG033 | Long             | EC               | CORP              | DE        |      8053 | NS      | $140628.50    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Helvetia Holding AG                | Helvetia Holding AG                            | CUSIP: 000000000<br>LEI: 529900SUJBXTORH0LT80 | Long             | EC               | CORP              | CH        |      1262 | NS      | $277216.45    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| London Stock Exchange Group PL     | London Stock Exchange Group PLC                | CUSIP: 000000000<br>LEI: 213800QAUUUP6I445N30 | Long             | EC               | CORP              | GB        |      2277 | NS      | $352765.67    | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| M&G PLC                            | M&G PLC                                        | CUSIP: 000000000<br>LEI: 254900TWUJUQ44TQJY84 | Long             | EC               | CORP              | GB        |     54973 | NS      | $151945.73    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Iberdrola SA                       | Iberdrola SA                                   | CUSIP: 000000000<br>LEI: 5QK37QC7NWOJ8D7WVQ45 | Long             | EC               | CORP              | ES        |     14732 | NS      | $265273.80    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Beiersdorf AG                      | Beiersdorf AG                                  | CUSIP: 000000000<br>LEI: L47NHHI0Z9X22DV46U41 | Long             | EC               | CORP              | DE        |       979 | NS      | $137523.37    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Alcon AG                           | Alcon AG                                       | CUSIP: 000000000<br>LEI: 549300LDT5AP8S0NBM78 | Long             | EC               | CORP              | CH        |      1491 | NS      | $143906.29    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Hannover Rueck SE                  | Hannover Rueck SE                              | CUSIP: 000000000<br>LEI: 529900KIN5BE45V5KB18 | Long             | EC               | CORP              | DE        |       298 | NS      | $95335.15     | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Fresenius SE & Co KGaA             | Fresenius SE & Co KGaA                         | CUSIP: 000000000<br>LEI: XDFJ0CYCOO1FXRFTQS51 | Long             | EC               | CORP              | DE        |      2013 | NS      | $95321.79     | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Endesa SA                          | Endesa SA                                      | CUSIP: 000000000<br>LEI: 549300LHK07F2CHV4X31 | Long             | EC               | CORP              | ES        |      4886 | NS      | $146680.19    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| ANA Holdings Inc                   | ANA Holdings Inc                               | CUSIP: 000000000<br>LEI: 5493008IRKIY0G3TE305 | Long             | EC               | CORP              | JP        |      7600 | NS      | $145430.13    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Otsuka Corp                        | Otsuka Corp                                    | CUSIP: 000000000<br>LEI: 529900RG9DJ58J3UIE72 | Long             | EC               | CORP              | JP        |      4400 | NS      | $97582.88     | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Telia Co AB                        | Telia Co AB                                    | CUSIP: 000000000<br>LEI: 213800FSR9RNDUOTXO25 | Long             | EC               | CORP              | SE        |     40221 | NS      | $150430.83    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Medibank Pvt Ltd                   | Medibank Pvt Ltd                               | CUSIP: 000000000<br>LEI: BDYVSUPTML83OLINBJ17 | Long             | EC               | CORP              | AU        |     42009 | NS      | $125126.09    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Yakult Honsha Co Ltd               | Yakult Honsha Co Ltd                           | CUSIP: 000000000<br>LEI: 353800YJPSPGG7KI0S71 | Long             | EC               | CORP              | JP        |      4100 | NS      | $84090.43     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Aeon Co Ltd                        | Aeon Co Ltd                                    | CUSIP: 000000000<br>LEI: 5299009MXFL34SA71416 | Long             | EC               | CORP              | JP        |      3300 | NS      | $97559.80     | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| CapitaLand Ascendas REIT           | CapitaLand Ascendas REIT                       | CUSIP: 000000000<br>LEI: 549300ILIBAEMQZK3L20 | Long             | EC               | CORP              | SG        |    120600 | NS      | $245613.66    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Obic Co Ltd                        | Obic Co Ltd                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      2400 | NS      | $83776.75     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| EssilorLuxottica SA                | EssilorLuxottica SA                            | CUSIP: 000000000<br>LEI: 549300M3VH1A3ER1TB49 | Long             | EC               | CORP              | FR        |       653 | NS      | $186934.96    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| AXA SA                             | AXA SA                                         | CUSIP: 000000000<br>LEI: F5WCUMTUM4RKZ1MAIE39 | Long             | EC               | CORP              | FR        |      3666 | NS      | $172641.26    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Kerry Group PLC                    | Kerry Group PLC                                | CUSIP: 000000000<br>LEI: 635400TLVVBNXLFHWC59 | Long             | EC               | CORP              | IE        |       813 | NS      | $85883.85     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| ANZ Group Holdings Ltd             | ANZ Group Holdings Ltd                         | CUSIP: 000000000<br>LEI: 9845005D9C6BAA10BK72 | Long             | EC               | CORP              | AU        |      6158 | NS      | $117782.85    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| L E Lundbergforetagen AB           | L E Lundbergforetagen AB                       | CUSIP: 000000000<br>LEI: 529900BPSFZS6O3A9R04 | Long             | EC               | CORP              | SE        |      2666 | NS      | $140533.55    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Generali                           | Generali                                       | CUSIP: 000000000<br>LEI: 549300X5UKJVE386ZB61 | Long             | EC               | CORP              | IT        |      4641 | NS      | $168977.76    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Swisscom AG                        | Swisscom AG                                    | CUSIP: 000000000<br>LEI: 5493005SL9HHOXS3B739 | Long             | EC               | CORP              | CH        |       901 | NS      | $600411.95    | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| ST Engineering                     | Singapore Technologies Engineering Ltd         | CUSIP: 000000000<br>LEI: 254900OEXGGWCR24DG90 | Long             | EC               | CORP              | SG        |     45100 | NS      | $255869.38    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Singapore Airlines Ltd             | Singapore Airlines Ltd                         | CUSIP: 000000000<br>LEI: 549300ZG62N2599PWR15 | Long             | EC               | CORP              | SG        |     59200 | NS      | $304135.98    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Orica Ltd                          | Orica Ltd                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |      8511 | NS      | $88535.86     | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Koninklijke Ahold Delhaize NV      | Koninklijke Ahold Delhaize NV                  | CUSIP: 000000000<br>LEI: 724500C9GNBV20UYRX36 | Long             | EC               | CORP              | NL        |      8396 | NS      | $343742.07    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Tokyu Corp                         | Tokyu Corp                                     | CUSIP: 000000000<br>LEI: 3538005PGNIBTZYXAE45 | Long             | EC               | CORP              | JP        |      7500 | NS      | $91166.60     | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| United Overseas Bank Ltd           | United Overseas Bank Ltd                       | CUSIP: 000000000<br>LEI: IO66REGK3RCBAMA8HR66 | Long             | EC               | CORP              | SG        |      7500 | NS      | $198912.79    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Boerse AG                 | Deutsche Boerse AG                             | CUSIP: 000000000<br>LEI: 529900G3SW56SHYNPR95 | Long             | EC               | CORP              | DE        |       933 | NS      | $299644.85    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Washington H Soul Pattinson &      | Washington H Soul Pattinson & Co Ltd           | CUSIP: 000000000<br>LEI: 549300G2Q3P6ZVNC1465 | Long             | EC               | CORP              | AU        |      9028 | NS      | $215180.94    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Ageas SA/NV                        | Ageas SA/NV                                    | CUSIP: 000000000<br>LEI: 5493005DJBML6LY3RV36 | Long             | EC               | CORP              | BE        |      3682 | NS      | $230456.09    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Wolters Kluwer NV                  | Wolters Kluwer NV                              | CUSIP: 000000000<br>LEI: 724500TEM53I0U077B74 | Long             | EC               | CORP              | NL        |      1168 | NS      | $205686.45    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Ferrovial SE                       | Ferrovial SE                                   | CUSIP: 000000000<br>LEI: 72450022R2ZFL41Y6I04 | Long             | EC               | CORP              | NL        |      2711 | NS      | $131691.09    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Kao Corp                           | Kao Corp                                       | CUSIP: 000000000<br>LEI: 353800HM38HFCB8RGL63 | Long             | EC               | CORP              | JP        |      2000 | NS      | $85424.53     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Heineken Holding NV                | Heineken Holding NV                            | CUSIP: 000000000<br>LEI: 724500M1WJLFM9TYBS04 | Long             | EC               | CORP              | NL        |      2655 | NS      | $206930.77    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Coles Group Ltd                    | Coles Group Ltd                                | CUSIP: 000000000<br>LEI: 549300OHQRG2HN8LZ793 | Long             | EC               | CORP              | AU        |     21233 | NS      | $288608.64    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Auckland International Airport     | Auckland International Airport Ltd             | CUSIP: 000000000<br>LEI: 549300HFZIZDJWB7AK60 | Long             | EC               | CORP              | NZ        |     10352 | NS      | $46241.19     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Euronext NV                        | Euronext NV                                    | CUSIP: 000000000<br>LEI: 724500QJ4QSZ3H9QU415 | Long             | EC               | CORP              | NL        |      1285 | NS      | $213989.56    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Europacific Partners     | Coca-Cola Europacific Partners PLC             | CUSIP: 000000000<br>LEI: 549300LTH67W4GWMRF57 | Long             | EC               | CORP              | GB        |      2770 | NS      | $251349.80    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Check Point Software Technolog     | Check Point Software Technologies Ltd          | CUSIP: 000000000<br>LEI: 2549003ZVBH73EPNS513 | Long             | EC               | CORP              | IL        |       235 | NS      | $51596.60     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Ono Pharmaceutical Co Ltd          | Ono Pharmaceutical Co Ltd                      | CUSIP: 000000000<br>LEI: 529900G26L4NG4GFJZ86 | Long             | EC               | CORP              | JP        |      9900 | NS      | $113692.82    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Shell PLC                          | Shell PLC                                      | CUSIP: 000000000<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |      4366 | NS      | $142001.48    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| BKW AG                             | BKW AG                                         | CUSIP: 000000000<br>LEI: 549300IE30SKTUO98Q38 | Long             | EC               | CORP              | CH        |       660 | NS      | $132343.85    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Alfa Laval AB                      | Alfa Laval AB                                  | CUSIP: 000000000<br>LEI: 549300UCKT2UK88AG251 | Long             | EC               | CORP              | SE        |      1736 | NS      | $71861.11     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Haleon PLC                         | Haleon PLC                                     | CUSIP: 000000000<br>LEI: 549300PSB3WWEODCUP19 | Long             | EC               | CORP              | GB        |     58756 | NS      | $294735.30    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Danske Bank A/S                    | Danske Bank A/S                                | CUSIP: 000000000<br>LEI: MAES062Z21O4RZ2U7M96 | Long             | EC               | CORP              | DK        |      2988 | NS      | $104165.06    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Banque Cantonale Vaudoise          | Banque Cantonale Vaudoise                      | CUSIP: 000000000<br>LEI: K1MOBB3OPSBBQO554R76 | Long             | EC               | CORP              | CH        |      1205 | NS      | $148042.65    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Swiss Prime Site AG                | Swiss Prime Site AG                            | CUSIP: 000000000<br>LEI: 506700XI9H64OPR34158 | Long             | EC               | CORP              | CH        |      4417 | NS      | $622399.10    | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Lottery Corp Ltd/The               | Lottery Corp Ltd/The                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |     56038 | NS      | $187372.44    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Orange SA                          | Orange SA                                      | CUSIP: 000000000<br>LEI: 969500MCOONR8990S771 | Long             | EC               | CORP              | FR        |     20551 | NS      | $297649.95    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CapitaLand Integrated Commerci     | CapitaLand Integrated Commercial Trust         | CUSIP: 000000000<br>LEI: 54930031292WUTXF0L29 | Long             | EC               | CORP              | SG        |    130300 | NS      | $214489.70    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Getlink SE                         | Getlink SE                                     | CUSIP: 000000000<br>LEI: 9695007ZEQ7M0OE74G82 | Long             | EC               | CORP              | FR        |     11213 | NS      | $211880.01    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Eni SpA                            | Eni SpA                                        | CUSIP: 000000000<br>LEI: BUCRF72VH5RBN7X3VL35 | Long             | EC               | CORP              | IT        |     12526 | NS      | $180213.88    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Holcim AG                          | Holcim AG                                      | CUSIP: 000000000<br>LEI: 529900EHPFPYHV6IQO98 | Long             | EC               | CORP              | CH        |      1224 | NS      | $135843.46    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Airlines Co Ltd              | Japan Airlines Co Ltd                          | CUSIP: 000000000<br>LEI: 3538002MH5L1QZZ93477 | Long             | EC               | CORP              | JP        |      6100 | NS      | $110135.33    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Wilmar International Ltd           | Wilmar International Ltd                       | CUSIP: 000000000<br>LEI: 549300H2EAI4YRLWBB20 | Long             | EC               | CORP              | SG        |     60800 | NS      | $142445.45    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| MEIJI Holdings Co Ltd              | MEIJI Holdings Co Ltd                          | CUSIP: 000000000<br>LEI: 5299002D52YIP6DWMV49 | Long             | EC               | CORP              | JP        |      6800 | NS      | $167122.67    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Westpac Banking Corp               | Westpac Banking Corp                           | CUSIP: 000000000<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | EC               | CORP              | AU        |      4530 | NS      | $95291.45     | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| SoftBank Corp                      | SoftBank Corp                                  | CUSIP: 000000000<br>LEI: 353800M1YCTS9JRBJ535 | Long             | EC               | CORP              | JP        |    131100 | NS      | $197961.18    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Terna - Rete Elettrica Naziona     | Terna - Rete Elettrica Nazionale               | CUSIP: 000000000<br>LEI: 8156009E94ED54DE7C31 | Long             | EC               | CORP              | IT        |     30057 | NS      | $298550.84    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Industrivarden AB                  | Industrivarden AB                              | CUSIP: 000000000<br>LEI: 549300TM1DLIQI3B3T37 | Long             | EC               | CORP              | SE        |      3194 | NS      | $112023.80    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Bureau Veritas SA                  | Bureau Veritas SA                              | CUSIP: 000000000<br>LEI: 969500TPU5T3HA5D1F11 | Long             | EC               | CORP              | FR        |      4417 | NS      | $139505.81    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Keppel Ltd                         | Keppel Ltd                                     | CUSIP: 000000000<br>LEI: 254900SQ7IPDOY6IDW33 | Long             | EC               | CORP              | SG        |     40400 | NS      | $202912.49    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| InterContinental Hotels Group      | InterContinental Hotels Group PLC              | CUSIP: 000000000<br>LEI: 2138007ZFQYRUSLU3J98 | Long             | EC               | CORP              | GB        |      1077 | NS      | $113992.40    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Kirin Holdings Co Ltd              | Kirin Holdings Co Ltd                          | CUSIP: 497350108<br>LEI: 353800GBVL72LLMTYM96 | Long             | EC               | CORP              | JP        |      9700 | NS      | $146470.14    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Klepierre SA                       | Klepierre SA                                   | CUSIP: 000000000<br>LEI: 969500PB4U31KEFHZ621 | Long             | EC               | CORP              | FR        |      9516 | NS      | $347553.43    | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Oversea-Chinese Banking Corp L     | Oversea-Chinese Banking Corp Ltd               | CUSIP: 000000000<br>LEI: 5493007O3QFXCPOGWK22 | Long             | EC               | CORP              | SG        |     22200 | NS      | $274504.25    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Holmen AB                          | Holmen AB                                      | CUSIP: 000000000<br>LEI: 52990080SH3454F0QE68 | Long             | EC               | CORP              | SE        |      2657 | NS      | $105174.92    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Power Assets Holdings Ltd          | Power Assets Holdings Ltd                      | CUSIP: 000000000<br>LEI: 254900JOWYUW1ZX4DF47 | Long             | EC               | CORP              | HK        |     20590 | NS      | $136326.85    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Singapore Exchange Ltd             | Singapore Exchange Ltd                         | CUSIP: 000000000<br>LEI: 549300IQ650PPXM76X03 | Long             | EC               | CORP              | SG        |     17000 | NS      | $186907.59    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Investor AB                        | Investor AB                                    | CUSIP: 000000000<br>LEI: 549300VEBQPHRZBKUX38 | Long             | EC               | CORP              | SE        |      5916 | NS      | $174624.68    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Telekom AG                | Deutsche Telekom AG                            | CUSIP: 000000000<br>LEI: 549300V9QSIG4WX4GJ96 | Long             | EC               | CORP              | DE        |      7769 | NS      | $278114.94    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Daiwa House Industry Co Ltd        | Daiwa House Industry Co Ltd                    | CUSIP: 000000000<br>LEI: 353800K9WXR9XRZJZI46 | Long             | EC               | CORP              | JP        |      2400 | NS      | $86529.58     | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| CSL Ltd                            | CSL Ltd                                        | CUSIP: 000000000<br>LEI: 529900ECSECK5ZDQTE14 | Long             | EC               | CORP              | AU        |      1356 | NS      | $218127.73    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Snam SpA                           | Snam SpA                                       | CUSIP: 000000000<br>LEI: 8156002278562044AF79 | Long             | EC               | CORP              | IT        |     50331 | NS      | $288508.22    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Groupe Bruxelles Lambert NV        | Groupe Bruxelles Lambert NV                    | CUSIP: 000000000<br>LEI: 549300KV0ZEHT2KVU152 | Long             | EC               | CORP              | BE        |      4551 | NS      | $373780.77    | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Zurich Insurance Group AG          | Zurich Insurance Group AG                      | CUSIP: 000000000<br>LEI: 529900QVNRBND50TXP03 | Long             | EC               | CORP              | CH        |       757 | NS      | $534169.50    | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Assa Abloy AB                      | Assa Abloy AB                                  | CUSIP: 000000000<br>LEI: 549300YECS8HKCIMMB67 | Long             | EC               | CORP              | SE        |      3368 | NS      | $101609.73    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Credit Agricole SA                 | Credit Agricole SA                             | CUSIP: 000000000<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | EC               | CORP              | FR        |      7593 | NS      | $141842.43    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Aena SME SA                        | Aena SME SA                                    | CUSIP: 000000000<br>LEI: 959800R7QMXKF0NFMT29 | Long             | EC               | CORP              | ES        |       960 | NS      | $240780.31    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| CLP Holdings Ltd                   | CLP Holdings Ltd                               | CUSIP: 000000000<br>LEI: 25490002BUTSMP94GO68 | Long             | EC               | CORP              | HK        |     45842 | NS      | $391887.75    | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Danone SA                          | Danone SA                                      | CUSIP: 000000000<br>LEI: 969500KMUQ2B6CBAF162 | Long             | EC               | CORP              | FR        |      5062 | NS      | $435591.31    | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| ASR Nederland NV                   | ASR Nederland NV                               | CUSIP: 000000000<br>LEI: 7245000G0HS48PZWUD53 | Long             | EC               | CORP              | NL        |      2402 | NS      | $150749.15    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanofi SA                          | Sanofi SA                                      | CUSIP: 000000000<br>LEI: 549300E9PC51EN656011 | Long             | EC               | CORP              | FR        |      1368 | NS      | $148619.85    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Informa PLC                        | Informa PLC                                    | CUSIP: 000000000<br>LEI: 5493006VM2LKUPSEDU20 | Long             | EC               | CORP              | GB        |     14113 | NS      | $136886.84    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Symrise AG                         | Symrise AG                                     | CUSIP: 000000000<br>LEI: 529900D82I6R9601CF26 | Long             | EC               | CORP              | DE        |      1479 | NS      | $170145.40    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Tele2 AB                           | Tele2 AB                                       | CUSIP: 000000000<br>LEI: 213800EKD193RVI9HL76 | Long             | EC               | CORP              | SE        |      6342 | NS      | $93337.08     | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Compass Group PLC                  | Compass Group PLC                              | CUSIP: 000000000<br>LEI: 2138008M6MH9OZ6U2T68 | Long             | EC               | CORP              | GB        |     10998 | NS      | $369062.37    | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Unilever PLC                       | Unilever PLC                                   | CUSIP: 000000000<br>LEI: 549300MKFYEKVRWML317 | Long             | EC               | CORP              | GB        |      5403 | NS      | $342673.88    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Redeia Corp SA                     | Redeia Corp SA                                 | CUSIP: 000000000<br>LEI: 5493009HMD0C90GUV498 | Long             | EC               | CORP              | ES        |     10326 | NS      | $216409.32    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| NTT                                | Nippon Telegraph & Telephone Corp              | CUSIP: 000000000<br>LEI: 353800VHQU5VIXVUA841 | Long             | EC               | CORP              | JP        |    162000 | NS      | $169160.72    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| TotalEnergies SE                   | TotalEnergies SE                               | CUSIP: 000000000<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |      1850 | NS      | $107219.65    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Schindler Holding AG               | Schindler Holding AG                           | CUSIP: 000000000<br>LEI: 5299007DRLI319H7Q933 | Long             | EC               | CORP              | CH        |       775 | NS      | $282449.87    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Macquarie Group Ltd                | Macquarie Group Ltd                            | CUSIP: 000000000<br>LEI: ACMHD8HWFMFUIQQ8Y590 | Long             | EC               | CORP              | AU        |       610 | NS      | $75587.70     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Koninklijke KPN NV                 | Koninklijke KPN NV                             | CUSIP: 000000000<br>LEI: 549300YO0JZHAL7FVP81 | Long             | EC               | CORP              | NL        |    131254 | NS      | $608889.62    | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesco PLC                          | Tesco PLC                                      | CUSIP: 000000000<br>LEI: 2138002P5RNKC5W2JZ46 | Long             | EC               | CORP              | GB        |     43726 | NS      | $216019.35    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Hong Kong & China Gas Co Ltd       | Hong Kong & China Gas Co Ltd                   | CUSIP: 000000000<br>LEI: 254900P7BETXGC7YU827 | Long             | EC               | CORP              | HK        |    192470 | NS      | $173470.18    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Engie SA                           | Engie SA                                       | CUSIP: 000000000<br>LEI: LAXUQCHT4FH58LRZDY46 | Long             | EC               | CORP              | FR        |     21271 | NS      | $438200.97    | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| NN Group NV                        | NN Group NV                                    | CUSIP: 000000000<br>LEI: 724500OHYNDT9OY6Q215 | Long             | EC               | CORP              | NL        |      4564 | NS      | $278680.46    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| EXOR NV                            | EXOR NV                                        | CUSIP: 000000000<br>LEI: 5493002ENHZ6NYET7405 | Long             | EC               | CORP              | NL        |      1599 | NS      | $150167.21    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Hankyu Hanshin Holdings Inc        | Hankyu Hanshin Holdings Inc                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      3500 | NS      | $99580.36     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Infrastrutture Wireless Italia     | Infrastrutture Wireless Italiane SpA           | CUSIP: 000000000<br>LEI: 81560066183FE361C071 | Long             | EC               | CORP              | IT        |     15633 | NS      | $186661.63    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Telenor ASA                        | Telenor ASA                                    | CUSIP: 000000000<br>LEI: 549300IM1QSBY4SLPM26 | Long             | EC               | CORP              | NO        |     11031 | NS      | $165622.99    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Astellas Pharma Inc                | Astellas Pharma Inc                            | CUSIP: 000000000<br>LEI: 529900IB708DY2HBBB35 | Long             | EC               | CORP              | JP        |      8300 | NS      | $82866.48     | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Otsuka Holdings Co Ltd             | Otsuka Holdings Co Ltd                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      1300 | NS      | $63254.30     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Aviva PLC                          | Aviva PLC                                      | CUSIP: 000000000<br>LEI: YF0Y5B0IB8SM0ZFG9G81 | Long             | EC               | CORP              | GB        |     17140 | NS      | $127917.27    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Dreyfus Government Cash Management | Dreyfus Government Cash Management             | CUSIP: 262006208<br>LEI: 5493000Q69I5Q3QZIA91 | Long             | STIV             | RF                | US        |    159845 | NS      | $159845.47    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| DBS Group Holdings Ltd             | DBS Group Holdings Ltd                         | CUSIP: 000000000<br>LEI: 5493007FKT78NKPM5V55 | Long             | EC               | CORP              | SG        |      4030 | NS      | $130980.40    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Secom Co Ltd                       | Secom Co Ltd                                   | CUSIP: 000000000<br>LEI: 529900TYCL9N3E9PGE47 | Long             | EC               | CORP              | JP        |      2500 | NS      | $91761.09     | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Telstra Group Ltd                  | Telstra Group Ltd                              | CUSIP: 000000000<br>LEI: 894500WRW54CVN62K416 | Long             | EC               | CORP              | AU        |    131890 | NS      | $381014.05    | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Allianz SE                         | Allianz SE                                     | CUSIP: 000000000<br>LEI: 529900K9B0N5BT694847 | Long             | EC               | CORP              | DE        |       868 | NS      | $358024.31    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Scentre Group                      | Scentre Group                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |     48075 | NS      | $111475.76    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Nestle SA                          | Nestle SA                                      | CUSIP: 000000000<br>LEI: KY37LUS27QQX7BB93L28 | Long             | EC               | CORP              | CH        |      2324 | NS      | $247056.11    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola HBC AG                   | Coca-Cola HBC AG                               | CUSIP: 000000000<br>LEI: 549300EFP3TNG7JGVE49 | Long             | EC               | CORP              | CH        |      4649 | NS      | $241632.02    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Telefonica SA                      | Telefonica SA                                  | CUSIP: 879382109<br>LEI: 549300EEJH4FEPDBBR25 | Long             | EC               | CORP              | ES        |     65571 | NS      | $335606.33    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Essity AB                          | Essity AB                                      | CUSIP: 000000000<br>LEI: 549300G8E6YUVJ1DA153 | Long             | EC               | CORP              | SE        |      5296 | NS      | $152543.21    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Tryg A/S                           | Tryg A/S                                       | CUSIP: 000000000<br>LEI: 213800ZRS8AC4LSTCE39 | Long             | EC               | CORP              | DK        |      8951 | NS      | $213552.47    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Poste Italiane SpA                 | Poste Italiane SpA                             | CUSIP: 000000000<br>LEI: 815600354DEDBD0BA991 | Long             | EC               | CORP              | IT        |     12682 | NS      | $256303.60    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Roche Holding AG                   | Roche Holding AG                               | CUSIP: 000000000<br>LEI: 549300U41AUUVOAAOB37 | Long             | EC               | CORP              | CH        |       447 | NS      | $145849.76    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Scout24 SE                         | Scout24 SE                                     | CUSIP: 000000000<br>LEI: 5493007EIKM2ENQS7U66 | Long             | EC               | CORP              | DE        |      1084 | NS      | $128572.50    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Central Japan Railway Co           | Central Japan Railway Co                       | CUSIP: 000000000<br>LEI: 353800YAR3OVUITHTG64 | Long             | EC               | CORP              | JP        |      4400 | NS      | $90197.23     | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| SingTel                            | Singapore Telecommunications Ltd               | CUSIP: 000000000<br>LEI: 2549003XJKIQO8YDYD89 | Long             | EC               | CORP              | SG        |     52300 | NS      | $151362.07    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Takeda Pharmaceutical Co Ltd       | Takeda Pharmaceutical Co Ltd                   | CUSIP: 000000000<br>LEI: 549300ZLMVP4X0OGR454 | Long             | EC               | CORP              | JP        |      5900 | NS      | $178799.13    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Swiss Life Holding AG              | Swiss Life Holding AG                          | CUSIP: 000000000<br>LEI: 5493000KUC3Z24U77V93 | Long             | EC               | CORP              | CH        |       492 | NS      | $490003.03    | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| CK Hutchison Holdings Ltd          | CK Hutchison Holdings Ltd                      | CUSIP: 000000000<br>LEI: 254900Z8HM1VEPOQ2G79 | Long             | EC               | CORP              | HK        |     24692 | NS      | $139448.86    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| McDonald's Japan                   | McDonald's Holdings Co Japan Ltd               | CUSIP: 000000000<br>LEI: 529900FY9FV0AYNRC729 | Long             | EC               | CORP              | JP        |      3200 | NS      | $134955.94    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Heineken NV                        | Heineken NV                                    | CUSIP: 000000000<br>LEI: 724500K5PTPSST86UQ23 | Long             | EC               | CORP              | NL        |      1832 | NS      | $163332.39    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Repsol SA                          | Repsol SA                                      | CUSIP: 000000000<br>LEI: BSYCX13Y0NOTV14V9N85 | Long             | EC               | CORP              | ES        |     11982 | NS      | $146732.77    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| KDDI Corp                          | KDDI Corp                                      | CUSIP: 000000000<br>LEI: 5299003FU7V4I45FU310 | Long             | EC               | CORP              | JP        |      7200 | NS      | $127075.12    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Sino Land Co Ltd                   | Sino Land Co Ltd                               | CUSIP: 000000000<br>LEI: 529900G5P51053HJVZ92 | Long             | EC               | CORP              | HK        |    125233 | NS      | $128856.48    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Veolia Environnement SA            | Veolia Environnement SA                        | CUSIP: 000000000<br>LEI: 969500LENY69X51OOT31 | Long             | EC               | CORP              | FR        |      4241 | NS      | $154606.03    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Enel SpA                           | Enel SpA                                       | CUSIP: 000000000<br>LEI: WOCMU6HCI0OJWNPRZS33 | Long             | EC               | CORP              | IT        |     28240 | NS      | $244544.27    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Novonesis Novozymes B              | Novonesis Novozymes B                          | CUSIP: 000000000<br>LEI: 529900T6WNZXD2R3JW38 | Long             | EC               | CORP              | DK        |      1299 | NS      | $84004.23     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Evonik Industries AG               | Evonik Industries AG                           | CUSIP: 000000000<br>LEI: 41GUOJQTALQHLF39XJ34 | Long             | EC               | CORP              | DE        |      5007 | NS      | $112025.48    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Bunzl PLC                          | Bunzl PLC                                      | CUSIP: 000000000<br>LEI: 213800Q1Q9DV4L78UM09 | Long             | EC               | CORP              | GB        |      3454 | NS      | $108173.41    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| ACS Actividades de Construccio     | ACS Actividades de Construccion y Servicios SA | CUSIP: 000000000<br>LEI: 95980020140005558665 | Long             | EC               | CORP              | ES        |      2061 | NS      | $128647.60    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| BOC Hong Kong Holdings Ltd         | BOC Hong Kong Holdings Ltd                     | CUSIP: 000000000<br>LEI: 254900JB98W77JDJMW15 | Long             | EC               | CORP              | HK        |     34932 | NS      | $145032.03    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Amadeus IT Group SA                | Amadeus IT Group SA                            | CUSIP: 000000000<br>LEI: 9598004A3FTY3TEHHN09 | Long             | EC               | CORP              | ES        |      1718 | NS      | $134640.54    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| National Grid PLC                  | National Grid PLC                              | CUSIP: 000000000<br>LEI: 8R95QZMKZLJX5Q2XR704 | Long             | EC               | CORP              | GB        |      9883 | NS      | $142642.05    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-24

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

**Signature:** Derek Maltbie

**Name of Signer:** Derek Maltbie

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