First Trust Senior Floating Rate 2022 Target Term Fund (FIV)
Portfolio of Investments
August 31, 2020 (Unaudited)
Principal | Stated | ||||||
Value | Description | Rate (a) | Maturity (b) | Value | |||
SENIOR FLOATING-RATE LOAN INTERESTS (c) - 140.8% | |||||||
Aerospace & Defense - 1.1% | |||||||
$ 3,712,543 | Transdigm, Inc., Tranche G Refinancing TL, 1 Mo. LIBOR + | ||||||
2.25%, 0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 2.41% | 08/22/24 | $ | 3,520,196 | |||
Apparel Retail - 0.1% | |||||||
300,110 | Burlington Coat Factory Warehouse Corp., Term Loan B-5, 1 Mo. | ||||||
LIBOR + 1.75%, 0.00% Floor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 1.91% | 11/17/24 | 290,605 | ||||
Application Software - 16.0% | |||||||
1,513,751 | CCC Information Services, Inc. (Cypress), Term Loan B, 1 Mo. | ||||||
LIBOR + 3.00%, 1.00% Floor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 4.00% | 04/26/24 | 1,503,533 | ||||
7,522,568 | Hyland Software, Inc., Term Loan B, 1 Mo. LIBOR + 3.25%, | ||||||
0.75% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 4.00% | 07/01/24 | 7,417,778 | ||||
990,549 | Internet Brands, Inc. (WebMD/MH Sub I, LLC), 2020 June New | ||||||
Term Loan, 1 Mo. LIBOR + 3.75%, 1.00% Floor . . . . . . . . . . . . . . . . . | 4.75% | 09/15/24 | 978,792 | ||||
3,972,266 | Internet Brands, Inc. (WebMD/MH Sub I, LLC), Initial Term Loan, | ||||||
3 Mo. LIBOR + 3.50%, 0.00% Floor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 4.57% | 09/13/24 | 3,865,253 | ||||
6,103,970 | McAfee, LLC, Term Loan B, 1 Mo. LIBOR + 3.75%, 0.00% Floor . | 3.91% | 09/30/24 | 6,040,672 | |||
1,248,044 | Micro Focus International (MA Financeco, LLC), Miami Escrow TL | ||||||
B3, 1 Mo. LIBOR + 2.50%, 0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . | 2.66% | 06/21/24 | 1,188,762 | ||||
8,427,782 | Micro Focus International (MA Financeco, LLC), Seattle Spinco | ||||||
TLB, 1 Mo. LIBOR + 2.50%, 0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . | 2.66% | 06/21/24 | 8,027,462 | ||||
696,722 | Qlik Technologies (Project Alpha Intermediate Holding, Inc.), 2019 | ||||||
Incremental Term Loan B, 3 Mo. LIBOR + 4.25%, 0.00% Floor . . | 4.52% | 04/26/24 | 689,755 | ||||
6,194,229 | Qlik Technologies (Project Alpha Intermediate Holding, Inc.), Term | ||||||
Loan B, 3 Mo. LIBOR + 3.50%, 1.00% Floor . . . . . . . . . . . . . . . . . . . . . | 4.50% | 04/26/24 | 6,147,773 | ||||
16,197,469 | SolarWinds Holdings, Inc., Initial Term Loan, 1 Mo. LIBOR + | ||||||
2.75%, 0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 2.91% | 02/05/24 | 15,969,732 | ||||
660,772 | Solera Holdings, Inc., Term Loan B, 2 Mo. LIBOR + 2.75%, 0.00% | ||||||
Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 2.91% | 03/03/23 | 648,680 | ||||
379,906 | Veeam Software Holdings Limited (VS Buyer, LLC), Term Loan B, | ||||||
1 Mo. LIBOR + 3.25%, 0.00% Floor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3.41% | 02/28/27 | 373,732 | ||||
52,851,924 | |||||||
Auto Parts & Equipment - 3.0% | |||||||
3,032,851 | American Axle & Manufacturing Holdings, Inc., Term Loan B, 1 | ||||||
Mo. LIBOR + 2.25%, 0.75% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3.00% | 04/06/24 | 2,946,202 | ||||
5,816,720 | Gates Global, LLC, Initial B-2 Dollar Term Loans, 1 Mo. LIBOR + | ||||||
2.75%, 1.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3.75% | 03/31/24 | 5,741,278 | ||||
2,484,825 | Lumileds (Bright Bidco B.V.), Term Loan B, 6 Mo. LIBOR + | ||||||
3.50%, 1.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 4.57% | 06/30/24 | 1,100,777 | ||||
9,788,257 | |||||||
Broadcasting - 7.4% | |||||||
1,116,320 | Cumulus Media Holdings, Inc., Term Loan B, 6 Mo. LIBOR + | ||||||
3.75%, 1.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 4.82% | 03/31/26 | 1,055,269 | ||||
1,596,642 | Diamond Sports Group, LLC, Term Loan B, 1 Mo. LIBOR + | ||||||
3.25%, 0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3.41% | 08/23/26 | 1,347,167 | ||||
1,082,941 | E.W. Scripps Company, Term Loan B-2, 1 Mo. LIBOR + 2.50%, | ||||||
0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 2.66% | 05/01/26 | 1,053,160 | ||||
244,280 | Entercom Media Corp. (CBS Radio), Term Loan B, 1 Mo. LIBOR | ||||||
+ 2.50%, 0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 2.66% | 11/17/24 | 230,112 | ||||
1,026,182 | Gray Television, Inc., Term C Loan, 1 Mo. LIBOR + 2.50%, 0.00% | ||||||
Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 2.66% | 01/02/26 | 1,004,088 | ||||
3,844,611 | iHeartCommunications, Inc., Term Loan B, 1 Mo. LIBOR + 3.00%, | ||||||
0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3.16% | 04/29/26 | 3,641,385 |
First Trust Senior Floating Rate 2022 Target Term Fund (FIV)
Portfolio of Investments (Continued)
August 31, 2020 (Unaudited)
Principal | Stated | ||||||
Value | Description | Rate (a) | Maturity (b) | Value | |||
SENIOR FLOATING-RATE LOAN INTERESTS (c) (Continued) | |||||||
Broadcasting (Continued) | |||||||
$ 6,682,609 | Nexstar Broadcasting, Inc., Incremental Term Loan B-4, 1 Mo. | ||||||
LIBOR + 2.75%, 0.00% Floor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 2.91% | 09/19/26 | $ | 6,549,892 | |||
1,985,095 | Nexstar Broadcasting, Inc., Mission Term Loan B-3, 1 Mo. LIBOR | ||||||
+ 2.25%, 0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 2.41% | 01/17/24 | 1,937,115 | ||||
7,735,971 | Nexstar Broadcasting, Inc., Nexstar Term Loan B-3, 1 Mo. LIBOR | ||||||
+ 2.25%, 0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 2.41% | 01/17/24 | 7,548,992 | ||||
24,367,180 | |||||||
Building Products - 0.6% | |||||||
1,988,158 | Quikrete Holdings, Inc., Term Loan B, 1 Mo. LIBOR + 2.50%, | ||||||
0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 2.66% | 01/31/27 | 1,934,895 | ||||
Cable & Satellite - 2.1% | |||||||
2,242,620 | Cablevision (aka CSC Holdings, LLC), March 2017 Term Loan | ||||||
B-1, 1 Mo. LIBOR + 2.25%, 0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . | 2.41% | 07/17/25 | 2,161,325 | ||||
4,772,727 | Charter Communications Operating, LLC, Term Loan B1, 1 Mo. | ||||||
LIBOR + 1.75%, 0.00% Floor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 1.91% | 04/30/25 | 4,691,782 | ||||
6,853,107 | |||||||
Casinos & Gaming - 16.0% | |||||||
6,981,400 | Aristocrat Technologies, Inc., Term B-3 Loan, 3 Mo. LIBOR + | ||||||
1.75%, 0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 2.02% | 10/19/24 | 6,810,775 | ||||
7,987,713 | Boyd Gaming Corporation, Term Loan B, 1 Mo. LIBOR + 2.25%, | ||||||
0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 2.36% | 09/15/23 | 7,749,919 | ||||
504,941 | Caesars Resort Collection, LLC, Term B-1 Loans, 1 Mo. LIBOR + | ||||||
4.50%, 0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 4.70% | 06/30/25 | 488,848 | ||||
252,470 | Caesars Resort Collection, LLC, Term B-1 Loans, 3 Mo. LIBOR + | ||||||
4.50%, 0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 4.77% | 06/30/25 | 244,424 | ||||
10,706,589 | Caesars Resort Collection, LLC, Term Loan B, 1 Mo. LIBOR + | ||||||
2.75%, 0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 2.91% | 12/22/24 | 10,044,172 | ||||
14,112,573 | CityCenter Holdings, LLC, Term Loan B, 1 Mo. LIBOR + 2.25%, | ||||||
0.75% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3.00% | 04/18/24 | 13,359,103 | ||||
2,300,747 | Golden Nugget, Inc., Term Loan B, 1 Mo. LIBOR + 2.50%, 0.75% | ||||||
Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3.25% | 10/04/23 | 2,052,565 | ||||
1,951,973 | Golden Nugget, Inc., Term Loan B, 2 Mo. LIBOR + 2.50%, 0.75% | ||||||
Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3.25% | 10/04/23 | 1,741,413 | ||||
735,357 | Scientific Games International, Inc., Term Loan B5, 1 Mo. LIBOR | ||||||
+ 2.75%, 0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 2.91% | 08/14/24 | 686,118 | ||||
9,593 | Scientific Games International, Inc., Term Loan B5, 3 Mo. LIBOR | ||||||
+ 2.75%, 0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3.06% | 08/14/24 | 8,951 | ||||
3,005,957 | Scientific Games International, Inc., Term Loan B5, 6 Mo. LIBOR | ||||||
+ 2.75%, 0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3.61% | 08/14/24 | 2,804,678 | ||||
5,134,242 | Stars Group Holdings B.V. (Amaya), Term Loan B, 3 Mo. LIBOR + | ||||||
3.50%, 0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3.81% | 07/10/25 | 5,137,579 | ||||
1,023,639 | Station Casinos, Inc. (Red Rocks), Term Loan B, 1 Mo. LIBOR + | ||||||
2.25%, 0.25% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 2.50% | 01/31/27 | 968,189 | ||||
656,964 | Twin River Worldwide Holdings, Inc., Term Loan B, 1 Mo. LIBOR | ||||||
+ 2.75%, 0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 2.91% | 05/10/26 | 622,887 | ||||
52,719,621 | |||||||
Coal & Consumable Fuels - 1.1% | |||||||
3,914,802 | Arch Coal, Inc., Term Loan B, 1 Mo. LIBOR + 2.75%, 1.00% | ||||||
Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3.75% | 03/07/24 | 3,404,234 | ||||
282,234 | Peabody Energy Corp., Term Loan B, 1 Mo. LIBOR + 2.75%, | ||||||
0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 2.91% | 03/31/25 | 98,378 | ||||
3,502,612 |
First Trust Senior Floating Rate 2022 Target Term Fund (FIV)
Portfolio of Investments (Continued)
August 31, 2020 (Unaudited)
Principal | Stated | |||||||
Value | Description | Rate (a) | Maturity (b) | Value | ||||
SENIOR FLOATING-RATE LOAN INTERESTS (c) (Continued) | ||||||||
Communications Equipment - 0.3% | ||||||||
$ | 855,535 | Commscope, Inc., Term Loan B, 1 Mo. LIBOR + 3.25%, 0.00% | ||||||
Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3.41% | 04/06/26 | $ | 835,977 | ||||
Data Processing & Outsourced Services - 0.1% | ||||||||
475,239 | Cardtronics USA, Inc., Term Loan B, 1 Mo. LIBOR + 4.00%, | |||||||
1.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 5.00% | 06/30/27 | 473,757 | |||||
Electric Utilities - 0.5% | ||||||||
1,823,278 | PG&E Corp., Exit Term Loan, 3 Mo. LIBOR + 4.50%, 1.00% | |||||||
Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 5.50% | 06/30/25 | 1,792,519 | |||||
Environmental & Facilities Services - 1.6% | ||||||||
5,255,601 | Packers Holdings, LLC, Term Loan B, 1 Mo. LIBOR + 3.00%, | |||||||
1.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 4.00% | 12/04/24 | 5,139,557 | |||||
Food Distributors - 1.6% | ||||||||
654,224 | US Foods, Inc., Incremental B-2019 Term Loan, 6 Mo. LIBOR + | |||||||
2.00%, 0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3.07% | 08/31/26 | 624,902 | |||||
4,974,187 | US Foods, Inc., Term Loan B, 1 Mo. LIBOR + 1.75%, 0.00% | |||||||
Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 1.91% | 06/27/23 | 4,780,641 | |||||
5,405,543 | ||||||||
Health Care Facilities - 4.9% | ||||||||
10,803,073 | Acadia Healthcare Company, Inc., Term Loan B4, 1 Mo. LIBOR + | |||||||
2.50%, 0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 2.66% | 02/16/23 | 10,679,270 | |||||
1,079,290 | Gentiva Health Services, Inc. (Kindred at Home), Term Loan B, 1 | |||||||
Mo. LIBOR + 3.25%, 0.00% Floor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3.44% | 07/02/25 | 1,068,498 | |||||
4,697,055 | Select Medical Corporation, Term Loan B, 1 Mo. LIBOR + 2.50%, | |||||||
0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 2.68% | 03/06/25 | 4,560,041 | |||||
16,307,809 | ||||||||
Health Care Services - 13.9% | ||||||||
8,723,478 | Air Medical Group Holdings, Inc. (Global Medical Response), Term | |||||||
Loan B, 6 Mo. LIBOR + 3.25%, 1.00% Floor . . . . . . . . . . . . . . . . . . . . . | 4.25% | 04/28/22 | 8,633,102 | |||||
2,491,713 | Air Methods Corp. (a/k/a ASP AMC Intermediate Holdings, Inc.), | |||||||
Term Loan B, 3 Mo. LIBOR + 3.50%, 1.00% Floor . . . . . . . . . . . . . . . | 4.50% | 04/21/24 | 2,183,015 | |||||
5,382,418 | athenahealth, Inc. (VVC Holding Corp.), Term Loan B, 3 Mo. | |||||||
LIBOR + 4.50%, 0.00% Floor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 4.82% | 02/15/26 | 5,331,985 | |||||
9,326,392 | CHG Healthcare Services, Inc., Term Loan, 6 Mo. LIBOR + 3.00%, | |||||||
1.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 4.07% | 06/07/23 | 9,174,839 | |||||
3,332,796 | DuPage Medical Group (Midwest Physician Admin. Services, LLC), | |||||||
Repricing Term Loan, 1 Mo. LIBOR + 2.75%, 0.75% Floor . . . . . . . | 2.90% | 08/15/24 | 3,217,815 | |||||
3,911,173 | Envision Healthcare Corporation, Initial Term Loan, 1 Mo. LIBOR | |||||||
+ 3.75%, 0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3.91% | 10/10/25 | 2,822,694 | |||||
2,601,418 | Exam Works (Gold Merger Co., Inc.), Term B-1 Loan, 3 Mo. | |||||||
LIBOR + 3.25%, 1.00% Floor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 4.32% | 07/27/23 | 2,594,914 | |||||
4,228,235 | Surgery Centers Holdings, Inc., Term Loan B, 1 Mo. LIBOR + | |||||||
3.25%, 1.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 4.25% | 08/31/24 | 3,985,872 | |||||
2,569,035 | Team Health, Inc., Term Loan B, 1 Mo. LIBOR + 2.75%, 1.00% | |||||||
Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3.75% | 02/06/24 | 2,133,378 | |||||
5,780,105 | Verscend Technologies, Inc., Term Loan B, 1 Mo. LIBOR + 4.50%, | |||||||
0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 4.66% | 08/27/25 | 5,731,956 | |||||
45,809,570 | ||||||||
Health Care Technology - 3.8% | ||||||||
472,002 | Change Healthcare Holdings, LLC, Closing Date Term Loan, 1 Mo. | |||||||
LIBOR + 2.50%, 1.00% Floor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3.50% | 03/01/24 | 462,694 |
First Trust Senior Floating Rate 2022 Target Term Fund (FIV)
Portfolio of Investments (Continued)
August 31, 2020 (Unaudited)
Principal | Stated | |||||
Value | Description | Rate (a) | Maturity (b) | Value | ||
SENIOR FLOATING-RATE LOAN INTERESTS (c) (Continued) | ||||||
Health Care Technology (Continued) | ||||||
$ 11,511,339 | Change Healthcare Holdings, LLC, Closing Date Term Loan, 3 Mo. | |||||
LIBOR + 2.50%, 1.00% Floor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3.50% | 03/01/24 | $ 11,284,336 | |||
1,701 | Press Ganey (Azalea TopCo, Inc.), Term Loan B, 1 Mo. LIBOR + | |||||
3.50%, 0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3.66% | 07/25/26 | 1,652 | |||
673,527 | Press Ganey (Azalea TopCo, Inc.), Term Loan B, 3 Mo. LIBOR + | |||||
3.50%, 0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3.76% | 07/25/26 | 654,163 | |||
12,402,845 | ||||||
Hotels, Resorts & Cruise Lines - 1.8% | ||||||
6,158,378 | Four Seasons Holdings, Inc., Term Loan B, 1 Mo. LIBOR + 2.00%, | |||||
0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 2.16% | 11/30/23 | 5,975,536 | |||
Household Appliances - 0.3% | ||||||
1,149,026 | Traeger Grills (TGP Holdings III, LLC), 2018 Refinancing Term | |||||
Loan, 3 Mo. LIBOR + 4.25%, 1.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . | 5.25% | 09/25/24 | 1,104,858 | |||
Human Resource & Employment Services - 0.9% | ||||||
2,970,591 | Alight, Inc. (fka Tempo Acq.), Non Extended Term Loan, 1 Mo. | |||||
LIBOR + 2.75%, 0.00% Floor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 2.91% | 05/01/24 | 2,903,753 | |||
Hypermarkets & Super Centers - 1.9% | ||||||
6,174,209 | BJ's Wholesale Club, Inc., Term Loan B, 1 Mo. LIBOR + 2.00%, | |||||
0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 2.16% | 02/03/24 | 6,114,196 | |||
Independent Power Producers & Energy Traders - 0.6% | ||||||
1,968,912 | Calpine Corporation, Term Loan B5, 1 Mo. LIBOR + 2.25%, 0.00% | |||||
Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 2.41% | 01/15/24 | 1,925,163 | |||
Insurance Brokers - 6.5% | ||||||
2,083,427 | Alliant Holdings I, LLC, 2019 New Term Loan, 1 Mo. LIBOR + | |||||
3.25%, 0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3.43% | 05/10/25 | 2,029,488 | |||
3,282,155 | Alliant Holdings I, LLC, Initial Term Loan, 1 Mo. LIBOR + 2.75%, | |||||
0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 2.91% | 05/09/25 | 3,170,923 | |||
5,908,597 | Amwins Group, Inc., Term Loan B (First Lien), 1 Mo. LIBOR + | |||||
2.75%, 1.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3.75% | 01/25/24 | 5,856,896 | |||
4,257 | HUB International Limited, 2019 Incremental Term Loan B2, 1 Mo. | |||||
LIBOR + 4.00%, 1.00% Floor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 5.00% | 04/25/25 | 4,252 | |||
1,690,127 | HUB International Limited, 2019 Incremental Term Loan B2, 3 Mo. | |||||
LIBOR + 4.00%, 1.00% Floor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 5.00% | 04/25/25 | 1,688,251 | |||
17,247 | HUB International Limited, Term Loan B, 2 Mo. LIBOR + 3.00%, | |||||
0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3.22% | 04/25/25 | 16,782 | |||
6,743,660 | HUB International Limited, Term Loan B, 3 Mo. LIBOR + 3.00%, | |||||
0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3.26% | 04/25/25 | 6,561,851 | |||
447,889 | Ryan Specialty Group, LLC, Term Loan B, 1 Mo. LIBOR + 3.25%, | |||||
0.75% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3.40% | 07/23/27 | 445,931 | |||
1,744,995 | USI, Inc. (fka Compass Investors, Inc.), Term Loan B, 3 Mo. | |||||
LIBOR + 3.00%, 0.00% Floor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3.31% | 05/15/24 | 1,695,193 | |||
21,469,567 | ||||||
Integrated Telecommunication Services - 0.2% | ||||||
723,534 | Numericable (Altice France SA or SFR), Term Loan B-11, 1 Mo. | |||||
LIBOR + 2.75%, 0.00% Floor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 2.91% | 07/31/25 | 691,749 | |||
Interactive Home Entertainment - 0.9% | ||||||
3,044,765 | Playtika Holding Corp., Term Loan B, 3 Mo. LIBOR + 6.00%, | |||||
1.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 7.07% | 12/10/24 | 3,066,901 |
First Trust Senior Floating Rate 2022 Target Term Fund (FIV)
Portfolio of Investments (Continued)
August 31, 2020 (Unaudited)
Principal | Stated | ||||||
Value | Description | Rate (a) | Maturity (b) | Value | |||
SENIOR FLOATING-RATE LOAN INTERESTS (c) (Continued) | |||||||
Investment Banking & Brokerage - 0.2% | |||||||
$ 833,760 | Citadel Securities L.P., Term Loan B, 1 Mo. LIBOR + 2.75%, | ||||||
0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 2.91% | 02/27/26 | $ | 826,464 | |||
Leisure Facilities - 0.9% | |||||||
3,498,695 | ClubCorp Holdings, Inc., Term Loan B, 3 Mo. LIBOR + 2.75%, | ||||||
0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3.06% | 09/18/24 | 3,032,634 | ||||
Managed Health Care - 5.7% | |||||||
15,580,031 | Multiplan, Inc. (MPH), Term Loan B, 3 Mo. LIBOR + 2.75%, | ||||||
1.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3.75% | 06/07/23 | 15,404,755 | ||||
3,387,865 | Versant Health (Wink Holdco, Inc.), Initial Term Loan, 1 Mo. | ||||||
LIBOR + 3.00%, 1.00% Floor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 4.00% | 12/02/24 | 3,308,454 | ||||
18,713,209 | |||||||
Metal & Glass Containers - 1.5% | |||||||
4,999,500 | Berry Global, Inc., Term Loan Y, 1 Mo. LIBOR + 2.00%, 0.00% | ||||||
Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 2.16% | 07/01/26 | 4,842,666 | ||||
Movies & Entertainment - 2.2% | |||||||
2,478,472 | AMC Entertainment, Inc., Term Loan B, 6 Mo. LIBOR + 3.00%, | ||||||
0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 4.08% | 04/22/26 | 1,880,541 | ||||
19,488 | AMC Entertainment, Inc., Term Loan B, Prime Rate + 3.50%, | ||||||
0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 6.75% | 04/22/26 | 14,786 | ||||
6,757,850 | Cineworld Group PLC (Crown), Term Loan B, 6 Mo. LIBOR + | ||||||
2.25%, 0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3.32% | 02/28/25 | 5,279,570 | ||||
161,823 | Live Nation Entertainment, Inc., Term Loan B, 1 Mo. LIBOR + | ||||||
1.75%, 0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 1.94% | 10/17/26 | 150,010 | ||||
7,324,907 | |||||||
Other Diversified Financial Services - 5.5% | |||||||
9,806,006 | AlixPartners, LLP, Term Loan B, 1 Mo. LIBOR + 2.50%, 0.00% | ||||||
Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 2.66% | 04/04/24 | 9,580,468 | ||||
8,670,525 | Refinitiv US Holdings, Inc., Term Loan B, 1 Mo. LIBOR + 3.25%, | ||||||
0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3.41% | 10/01/25 | 8,589,975 | ||||
18,170,443 | |||||||
Packaged Foods & Meats - 3.4% | |||||||
3,005,216 | Hostess Brands, LLC (HB Holdings), Term Loan B, 1 Mo. LIBOR | ||||||
+ 2.25%, 0.75% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3.00% | 08/03/25 | 2,948,387 | ||||
27,967 | Hostess Brands, LLC (HB Holdings), Term Loan B, 2 Mo. LIBOR | ||||||
+ 2.25%, 0.75% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3.00% | 08/03/25 | 27,438 | ||||
8,069,558 | Hostess Brands, LLC (HB Holdings), Term Loan B, 3 Mo. LIBOR | ||||||
+ 2.25%, 0.75% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3.00% | 08/03/25 | 7,916,963 | ||||
312,055 | Simply Good Foods (Atkins Nutritionals, Inc.), Term Loan B, 1 | ||||||
Mo. LIBOR + 3.75%, 1.00% Floor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 4.75% | 07/07/24 | 312,642 | ||||
11,205,430 | |||||||
Paper Packaging - 3.5% | |||||||
1,470,355 | Graham Packaging Company, L.P., Initial Term Loan, 1 Mo. LIBOR | ||||||
+ 3.75%, 0.75% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 4.50% | 07/28/27 | 1,467,414 | ||||
10,108,225 | Reynolds Group Holdings, Inc., U.S. Term Loan, 1 Mo. LIBOR + | ||||||
2.75%, 0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 2.91% | 02/05/23 | 9,952,963 | ||||
11,420,377 | |||||||
Pharmaceuticals - 15.6% | |||||||
102,694 | Akorn, Inc., DIP Term Loan, 1 Mo. LIBOR + 9.50%, 1.00% | ||||||
Floor (d). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 10.50% | 11/21/20 | 103,208 |
First Trust Senior Floating Rate 2022 Target Term Fund (FIV)
Portfolio of Investments (Continued)
August 31, 2020 (Unaudited)
Principal | Stated | ||||||
Value | Description | Rate (a) | Maturity (b) | Value | |||
SENIOR FLOATING-RATE LOAN INTERESTS (c) (Continued) | |||||||
Pharmaceuticals (Continued) | |||||||
$ 2,764,519 | Akorn, Inc., Loan, 1 Mo. LIBOR + 14.50%, 1.00% Floor (d) . . . . . . . | 15.50% | 04/16/21 | $ | 2,452,129 | ||
5,826,840 | Bausch Health Companies, Inc. (Valeant), First Incremental Term | ||||||
Loan, 1 Mo. LIBOR + 2.75%, 0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . | 2.93% | 06/01/25 | 5,703,019 | ||||
7,549,892 | Bausch Health Companies, Inc. (Valeant), Term Loan B, 1 Mo. | ||||||
LIBOR + 3.00%, 0.00% Floor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3.18% | 06/01/25 | 7,420,940 | ||||
10,380,730 | Endo LLC, Term Loan B, 3 Mo. LIBOR + 4.25%, 0.75% Floor. . . . . | 5.00% | 04/29/24 | 9,989,273 | |||
2,455,333 | GoodRX, Inc., Term Loan B, 1 Mo. LIBOR + 2.75%, 0.00% Floor . | 2.91% | 10/15/25 | 2,426,188 | |||
1,365,243 | IQVIA, Inc. (Quintiles), Term Loan B3, 3 Mo. LIBOR + 1.75%, | ||||||
0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 2.06% | 06/11/25 | 1,333,679 | ||||
3,014,743 | Mallinckrodt International Finance S.A., 2017 Term Loan B, 6 Mo. | ||||||
LIBOR + 2.75%, 0.75% Floor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3.50% | 09/24/24 | 2,621,891 | ||||
567,070 | Mallinckrodt International Finance S.A., 2018 Incremental Term | ||||||
Loan, 6 Mo. LIBOR + 3.00%, 0.75% Floor . . . . . . . . . . . . . . . . . . . . . . . | 3.75% | 02/24/25 | 492,404 | ||||
3,425,795 | Parexel International Corp., Term Loan B, 1 Mo. LIBOR + 2.75%, | ||||||
0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 2.91% | 09/27/24 | 3,306,749 | ||||
15,493,866 | Pharmaceutical Product Development, Inc. (PPDI/Jaguar), Term | ||||||
Loan B, 1 Mo. LIBOR + 2.50%, 1.00% Floor . . . . . . . . . . . . . . . . . . . . . | 3.50% | 08/18/22 | 15,455,131 | ||||
51,304,611 | |||||||
Research & Consulting Services - 0.1% | |||||||
174,869 | Nielsen Finance, LLC (VNU, Inc.), Term Loan B5, 1 Mo. LIBOR + | ||||||
3.75%, 1.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 4.75% | 06/30/25 | 175,306 | ||||
Restaurants - 1.9% | |||||||
3,848,349 | 1011778 B.C. Unlimited Liability Company (Restaurant Brands) | ||||||
(aka Burger King/Tim Horton's), Term Loan B-4, 1 Mo. LIBOR + | |||||||
1.75%, 0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 1.91% | 11/14/26 | 3,699,226 | ||||
2,799,750 | IRB Holding Corp. (Arby's/Inspire Brands), Term Loan B, 1 Mo. | ||||||
LIBOR + 2.75%, 1.00% Floor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3.75% | 02/05/25 | 2,692,659 | ||||
6,391,885 | |||||||
Semiconductors - 0.9% | |||||||
582,807 | ON Semiconductor Corp., Term Loan B, 1 Mo. LIBOR + 2.00%, | ||||||
0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 2.16% | 09/19/26 | 573,704 | ||||
2,298,227 | Western Digital Corporation, U.S. Term B-4 Loan, 1 Mo. LIBOR + | ||||||
1.75%, 0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 1.91% | 04/29/23 | 2,278,117 | ||||
2,851,821 | |||||||
Specialized Consumer Services - 6.3% | |||||||
2,131,085 | Asurion, LLC, Second Lien Replacement B-2 Term Loan, 1 Mo. | ||||||
LIBOR + 6.50%, 0.00% Floor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 6.66% | 08/04/25 | 2,134,281 | ||||
9,130,787 | Asurion, LLC, Term Loan B4, 1 Mo. LIBOR + 3.00%, 0.00% | ||||||
Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3.16% | 08/04/22 | 9,024,231 | ||||
9,947,023 | Asurion, LLC, Term Loan B6, 1 Mo. LIBOR + 3.00%, 0.00% | ||||||
Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3.16% | 11/03/23 | 9,764,694 | ||||
20,923,206 | |||||||
Specialty Chemicals - 1.0% | |||||||
3,253,580 | H.B. Fuller Company, Term Loan B, 1 Mo. LIBOR + 2.00%, 0.00% | ||||||
Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 2.16% | 10/20/24 | 3,168,532 | ||||
Systems Software - 4.4% | |||||||
853,975 | Applied Systems, Inc., 1st Lien Term Loan, 3 Mo. LIBOR + 3.25%, | ||||||
1.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 4.25% | 09/19/24 | 849,509 | ||||
1,253,790 | Misys Financial Software Ltd. (Almonde, Inc.) (Finastra), Term | ||||||
Loan B, 3 Mo. LIBOR + 3.50%, 1.00% Floor . . . . . . . . . . . . . . . . . . . . . | 4.50% | 06/13/24 | 1,178,801 |
First Trust Senior Floating Rate 2022 Target Term Fund (FIV)
Portfolio of Investments (Continued)
August 31, 2020 (Unaudited)
Principal | Stated | ||||||||||
Value | Description | Rate (a) | Maturity (b) | Value | |||||||
SENIOR FLOATING-RATE LOAN INTERESTS (c) (Continued) | |||||||||||
Systems Software (Continued) | |||||||||||
$ | 10,019 | Riverbed Technology, Inc., Term Loan B, 2 Mo. LIBOR + 3.25%, | |||||||||
1.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 4.25% | 04/24/22 | $ | 8,847 | |||||||
3,787,293 | Riverbed Technology, Inc., Term Loan B, 3 Mo. LIBOR + 3.25%, | ||||||||||
1.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 4.25% | 04/24/22 | 3,344,180 | ||||||||
1,967,058 | SS&C European Holdings, S.a.r.l, Term Loan B-3, 1 Mo. LIBOR + | ||||||||||
1.75%, 0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 1.91% | 04/16/25 | 1,907,377 | ||||||||
1,381,995 | SS&C European Holdings, S.a.r.l, Term Loan B-4, 1 Mo. LIBOR + | ||||||||||
1.75%, 0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 1.91% | 04/16/25 | 1,340,065 | ||||||||
2,095,467 | SS&C European Holdings, S.a.r.l, Term Loan B-5, 1 Mo. LIBOR + | ||||||||||
1.75%, 0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 1.91% | 04/16/25 | 2,033,798 | ||||||||
1,270,744 | SUSE (Marcel Lux IV SARL), Facility B1 USD, 1 Mo. LIBOR + | ||||||||||
3.25%, 0.00% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 3.41% | 03/15/26 | 1,234,744 | ||||||||
2,592,297 | Vertafore, Inc., Term Loan B, 1 Mo. LIBOR + 3.25%, 0.00% Floor . | 3.41% | 07/02/25 | 2,590,015 | |||||||
14,487,336 | |||||||||||
Technology Hardware, Storage & Peripherals - 0.5% | |||||||||||
1,786,924 | Dell International, LLC, Refinancing Term B-1 Loan, 1 Mo. LIBOR | ||||||||||
+ 2.00%, 0.75% Floor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 2.75% | 09/16/25 | 1,773,522 | ||||||||
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Total Senior Floating-RateLoan Interests . . . . . . . . . . . . . . . . . . . . . . . . . | 463,860,046 | ||||||||||
Principal | (Cost $477,241,730) | Stated | Stated | ||||||||
Value | Description | Coupon | Maturity | Value | |||||||
CORPORATE BONDS AND NOTES (c) - 0.4% | |||||||||||
Paper Packaging - 0.4% | |||||||||||
1,119,000 | Reynolds Group Issuer, Inc./Reynolds Group Issuer, LLC/Reynolds | ||||||||||
Group Issuer Lu. (e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 7.00% | 07/15/24 | 1,149,068 | ||||||||
(Cost $1,136,061) | |||||||||||
Shares | Description | Value | |||||||||
MONEY MARKET FUNDS (c) - 3.0% | |||||||||||
10,000,000 | Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class - 0.01% (f) . . . | 10,000,000 | |||||||||
(Cost $10,000,000) | |||||||||||
Total Investments - 144.2% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 475,009,114 | ||||||||||
(Cost $488,377,791) (g) | |||||||||||
Outstanding Loans - (40.1)% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | (132,000,000) | ||||||||||
Net Other Assets and Liabilities - (4.1)%. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | (13,644,905) | ||||||||||
Net Assets - 100.0% . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 329,364,209
- Senior Floating-Rate Loan Interests ("Senior Loans") in which the Fund invests pay interest at rates which are periodically predetermined by reference to a base lending rate plus a premium. These base lending rates are generally (i) the lending rate offered by one or more major European banks, such as the LIBOR, (ii) the prime rate offered by one or more United States banks or (iii) the certificate of deposit rate. Certain Senior Loans are subject to a LIBOR floor that establishes a minimum LIBOR rate. When a range of rates is disclosed, the Fund holds more than one contract within the same tranche with identical LIBOR period, spread and floor, but different LIBOR reset dates.
- Senior Loans generally are subject to mandatory and/or optional prepayment. As a result, the actual remaining maturity of Senior Loans may be substantially less than the stated maturities shown.
- All of these securities are available to serve as collateral for the outstanding loans.
- This issuer has filed for protection in bankruptcy court.
First Trust Senior Floating Rate 2022 Target Term Fund (FIV)
Portfolio of Investments (Continued)
August 31, 2020 (Unaudited)
-
This security, sold within the terms of a private placement memorandum, is exempt from registration upon resale under
Rule 144A under the Securities Act of 1933, as amended, and may be resold in transactions exempt from registration, normally to qualified institutional buyers. Pursuant to procedures adopted by the Fund's Board of Trustees, this security has been determined to be liquid by First Trust Advisors L.P. (the "Advisor"). Although market instability can result in periods of increased overall market illiquidity, liquidity for each security is determined based on security specific factors and assumptions, which require subjective judgment. At August 31, 2020, securities noted as such amounted to $1,149,068 or 0.3% of net assets. - Rate shown reflects yield as of August 31, 2020.
- Aggregate cost for financial reporting purposes approximates the aggregate cost for federal income tax purposes. As of August 31, 2020, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $1,110,800 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $14,479,477. The net unrealized depreciation was $13,368,677.
LIBOR London Interbank Offered Rate
Valuation Inputs
The Fund is subject to fair value accounting standards that define fair value, establish the framework for measuring fair value and provide a three-level hierarchy for fair valuation based upon the inputs to the valuation as of the measurement date. The three levels of the fair value hierarchy are as follows:
- Level 1 - Level 1 inputs are quoted prices in active markets for identical investments.
- Level 2 - Level 2 inputs are observable inputs, either directly or indirectly. (Quoted prices for similar investments, valuations based on interest rates and yield curves, or valuations derived from observable market data.)
- Level 3 - Level 3 inputs are unobservable inputs that may reflect the reporting entity's own assumptions about the assumptions that market participants would use in pricing the investment.
The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in those investments.
A summary of the inputs used to value the Fund's investments as of August 31, 2020 is as follows:
Level 2 | Level 3 | ||||
Total | Level 1 | Significant | Significant | ||
Value at | Quoted | Observable | Unobservable | ||
8/31/2020 | Prices | Inputs | Inputs | ||
Senior Floating-Rate Loan Interests* . . . . . . . . . . . . . . . . . . . . . | $ 463,860,046 | $ | - | $ 463,860,046 | $ - |
Corporate Bonds and Notes* . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 1,149,068 | - | 1,149,068 | - | |
Money Market Funds. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 10,000,000 | 10,000,000 | - | - | |
Total Investments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | $ 475,009,114 | $ | 10,000,000 | $ 465,009,114 | $ - |
* See Portfolio of Investments for industry breakout.
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First Trust Senior Floating Rate 2022 Target Term Fund published this content on 15 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 October 2020 21:14:04 UTC