First Trust Energy Income and Growth Fund (FEN)
Portfolio of Investments
August 31, 2020 (Unaudited)
| Shares/ Units | Description | Value | ||
| COMMON STOCKS – 69.1% | ||||
| Construction & Engineering – 0.2% | ||||
| 9,000 | Quanta Services, Inc. | $461,250 | ||
| Electric Utilities – 18.2% | ||||
| 73,200 | Alliant Energy Corp. (a) | 3,963,780 | ||
| 35,000 | Duke Energy Corp. (b) | 2,811,900 | ||
| 39,000 | Emera, Inc. (CAD) | 1,592,172 | ||
| 68,300 | Enel S.p.A., ADR | 615,042 | ||
| 17,600 | Eversource Energy | 1,508,496 | ||
| 233,100 | Exelon Corp. (b) | 8,603,721 | ||
| 127,400 | FirstEnergy Corp. (a) | 3,642,366 | ||
| 101,500 | Fortis, Inc. (CAD) (a) | 4,059,689 | ||
| 12,500 | Iberdrola S.A., ADR | 634,375 | ||
| 9,000 | IDACORP, Inc. | 809,100 | ||
| 3,900 | NextEra Energy, Inc. | 1,088,763 | ||
| 13,000 | Orsted A/S, ADR | 609,752 | ||
| 276,100 | PPL Corp. (b) | 7,628,643 | ||
| 117,900 | Southern (The) Co. (b) | 6,152,022 | ||
| 22,000 | Xcel Energy, Inc. | 1,528,450 | ||
| 45,248,271 | ||||
| Gas Utilities – 4.4% | ||||
| 461,900 | AltaGas Ltd. (CAD) (a) | 5,974,051 | ||
| 14,700 | Atmos Energy Corp. (a) | 1,467,354 | ||
| 121,100 | New Jersey Resources Corp. | 3,649,954 | ||
| 11,091,359 | ||||
| Independent Power & Renewable Electricity Producers – 0.3% | ||||
| 38,800 | EDP Renovaveis S.A. (EUR) | 663,042 | ||
| Multi-Utilities – 17.3% | ||||
| 6,000 | CMS Energy Corp. (b) | 362,940 | ||
| 80,600 | Dominion Energy, Inc. | 6,322,264 | ||
| 53,800 | DTE Energy Co. | 6,384,446 | ||
| 288,700 | Public Service Enterprise Group, Inc. (b) | 15,081,688 | ||
| 120,900 | Sempra Energy (b) | 14,949,285 | ||
| 43,100,623 | ||||
| Oil, Gas & Consumable Fuels – 28.4% | ||||
| 194,028 | Enbridge, Inc. (a) (b) | 6,212,777 | ||
| 345,884 | Equitrans Midstream Corp. (a) | 3,555,687 | ||
| 170,060 | Keyera Corp. (CAD) (a) | 3,105,631 | ||
| 1,081,155 | Kinder Morgan, Inc. (a) (b) | 14,941,562 | ||
| 54,084 | ONEOK, Inc. (a) | 1,486,228 | ||
| 574,432 | TC Energy Corp. (a) (b) | 26,802,997 | ||
| 712,841 | Williams (The) Cos., Inc. (a) (b) | 14,798,579 | ||
| 70,903,461 | ||||
| Water Utilities – 0.3% | ||||
| 5,500 | American Water Works Co., Inc. | 777,370 | ||
Total Common Stocks | 172,245,376 | |||
| (Cost $165,147,874) | ||||
| MASTER LIMITED PARTNERSHIPS – 50.7% | ||||
| Chemicals – 3.1% | ||||
| 378,198 | Westlake Chemical Partners, L.P. (a) | 7,658,509 | ||
First Trust Energy Income and Growth Fund (FEN)
Portfolio of Investments (Continued)
August 31, 2020 (Unaudited)
| Shares/ Units | Description | Value | ||
| MASTER LIMITED PARTNERSHIPS (Continued) | ||||
| Gas Utilities – 0.6% | ||||
| 120,600 | Suburban Propane Partners, L.P. (a) | $1,537,650 | ||
| Independent Power & Renewable Electricity Producers – 2.1% | ||||
| 88,261 | NextEra Energy Partners, L.P. (c) | 5,323,904 | ||
| Oil, Gas & Consumable Fuels – 44.9% | ||||
| 430,762 | BP Midstream Partners, L.P. (a) | 5,078,684 | ||
| 130,489 | Cheniere Energy Partners, L.P. (a) | 4,722,397 | ||
| 120,767 | Energy Transfer, L.P. (a) | 775,324 | ||
| 1,512,706 | Enterprise Products Partners, L.P. (a) | 26,563,117 | ||
| 583,230 | Holly Energy Partners, L.P. (a) | 8,334,357 | ||
| 681,154 | Magellan Midstream Partners, L.P. (a) (b) | 25,890,663 | ||
| 223,800 | Phillips 66 Partners, L.P. (a) | 6,024,696 | ||
| 415,801 | Plains All American Pipeline, L.P. (a) | 2,943,871 | ||
| 618,740 | Shell Midstream Partners, L.P. (a) | 6,428,709 | ||
| 826,868 | TC PipeLines, L.P. (a) | 25,111,981 | ||
| 111,873,799 | ||||
Total Master Limited Partnerships | 126,393,862 | |||
| (Cost $81,954,365) | ||||
Total Investments – 119.8% | 298,639,238 | |||
| (Cost $247,102,239) (d) | ||||
| Number of Contracts | Description | Notional Amount | Exercise Price | Expiration Date | Value | |||||
| CALL OPTIONS WRITTEN – (0.2)% | ||||||||||
| (60) | CMS Energy Corp. | $(362,940) | $65.00 | Sep 2020 | (600) | |||||
| (350) | Duke Energy Corp. | (2,811,900) | 87.50 | Sep 2020 | (1,400) | |||||
| (900) | Enbridge, Inc. | (2,881,800) | 35.00 | Oct 2020 | (22,500) | |||||
| (1,852) | Exelon Corp. | (6,835,732) | 40.00 | Oct 2020 | (83,340) | |||||
| (479) | Exelon Corp. | (1,767,989) | 41.00 | Oct 2020 | (13,172) | |||||
| (1,900) | Kinder Morgan. Inc. | (2,625,800) | 15.00 | Oct 2020 | (43,700) | |||||
| (2,000) | Magellan Midstream Partners, L.P. | (7,602,000) | 42.50 | Oct 2020 | (86,000) | |||||
| (280) | PPL Corp. | (773,640) | 27.00 | Sep 2020 | (23,800) | |||||
| (2,211) | PPL Corp. | (6,108,993) | 28.00 | Sep 2020 | (55,275) | |||||
| (2,150) | Public Service Enterprise Group, Inc. | (11,231,600) | 55.00 | Sep 2020 | (47,300) | |||||
| (516) | Sempra Energy | (6,380,340) | 130.00 | Sep 2020 | (23,220) | |||||
| (443) | Sempra Energy | (5,477,695) | 135.00 | Oct 2020 | (31,453) | |||||
| (893) | Southern (The) Co. | (4,659,674) | 57.50 | Oct 2020 | (18,753) | |||||
| (1,570) | TC Energy Corp. | (7,325,620) | 50.00 | Sep 2020 | (23,550) | |||||
| (300) | TC Energy Corp. | (1,399,800) | 55.00 | Nov 2020 | (7,500) | |||||
| (1,160) | Williams (The) Cos., Inc. | (2,408,160) | 22.00 | Sep 2020 | (17,400) | |||||
Total Call Options Written | (498,963) | |||||||||
| (Premiums received $966,864) | ||||||||||
Outstanding Loan – (23.8)% | (59,200,000) | ||
Net Other Assets and Liabilities – 4.2% | 10,249,884 | ||
Net Assets – 100.0% | $249,190,159 |
| (a) | All or a portion of this security serves as collateral on the outstanding loan. |
| (b) | All or a portion of this security’s position represents cover for outstanding options written. |
| (c) | This security is taxed as a “C” corporation for federal income tax purposes. |
First Trust Energy Income and Growth Fund (FEN)
Portfolio of Investments (Continued)
August 31, 2020 (Unaudited)
| (d) | Aggregate cost for federal income tax purposes was $223,937,798. 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 $86,603,259 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $12,400,782. The net unrealized appreciation was $74,202,477. The amounts presented are inclusive of derivative contracts. |
| ADR | American Depositary Receipt |
| CAD | Canadian Dollar |
| EUR | Euro Dollar |
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:
| ASSETS TABLE | ||||
| Total Value at 8/31/2020 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks* | $ 172,245,376 | $ 172,245,376 | $ — | $ — |
Master Limited Partnerships* | 126,393,862 | 126,393,862 | — | — |
Total Investments | $ 298,639,238 | $ 298,639,238 | $— | $— |
LIABILITIES TABLE | ||||
| Total Value at 8/31/2020 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Call Options Written | $ (498,963) | $ (485,791) | $ (13,172) | $ — |
| * | See Portfolio of Investments for industry breakout. |