First Trust New Opportunities MLP & Energy Fund (FPL)
Portfolio of Investments
July 31, 2023 (Unaudited)
Units | Description | Value | ||
MASTER LIMITED PARTNERSHIPS – 61.6% | ||||
Chemicals – 2.7% | ||||
210,988 | Westlake Chemical Partners, L.P. (a) | $4,791,537 | ||
Energy Equipment & Services – 0.4% | ||||
31,000 | USA Compression Partners, L.P. | 617,210 | ||
Gas Utilities – 0.7% | ||||
88,500 | Suburban Propane Partners, L.P. (a) | 1,308,030 | ||
Independent Power & Renewable Electricity Producers – 1.6% | ||||
50,319 | NextEra Energy Partners, L.P. (a) (b) (c) | 2,739,870 | ||
Oil, Gas & Consumable Fuels – 56.2% | ||||
267,269 | Cheniere Energy Partners, L.P. (a) | 13,804,444 | ||
1,232,960 | Energy Transfer, L.P. (a) | 16,386,038 | ||
16,000 | EnLink Midstream, LLC (a) (b) | 185,600 | ||
692,564 | Enterprise Products Partners, L.P. (a) | 18,359,872 | ||
283,830 | Hess Midstream, L.P., Class A (a) (b) | 8,852,658 | ||
141,190 | Holly Energy Partners, L.P. (a) | 2,753,205 | ||
290,819 | Magellan Midstream Partners, L.P. (a) | 19,272,575 | ||
245,000 | MPLX, L.P. (a) | 8,699,950 | ||
531,720 | Plains All American Pipeline, L.P. (a) | 7,911,994 | ||
41,070 | TXO Partners, L.P. (a) | 903,129 | ||
35,000 | Western Midstream Partners, L.P. | 989,450 | ||
98,118,915 | ||||
Total Master Limited Partnerships | 107,575,562 | |||
(Cost $71,954,951) | ||||
Shares | Description | Value | ||
COMMON STOCKS – 60.9% | ||||
Electric Utilities – 11.3% | ||||
40,400 | Alliant Energy Corp. (c) | 2,171,096 | ||
35,270 | American Electric Power Co., Inc. | 2,988,780 | ||
33 | Constellation Energy Corp. | 3,189 | ||
4,800 | Duke Energy Corp. | 449,376 | ||
7,300 | Emera, Inc. (CAD) (a) | 296,119 | ||
247,250 | Enel S.p.A., ADR | 1,689,904 | ||
5,000 | Entergy Corp. | 513,500 | ||
23,700 | Eversource Energy (a) | 1,714,221 | ||
65,800 | Exelon Corp. | 2,754,388 | ||
4,400 | Fortis, Inc. (CAD) (a) | 187,558 | ||
6,200 | Iberdrola S.A., ADR | 309,926 | ||
10,200 | IDACORP, Inc. (a) | 1,048,764 | ||
13,480 | NextEra Energy, Inc. (c) | 988,084 | ||
6,490 | Orsted A/S, ADR | 188,210 | ||
58,520 | PPL Corp. (c) | 1,611,056 | ||
27,080 | Southern (The) Co. | 1,958,967 | ||
14,800 | Xcel Energy, Inc. | 928,404 | ||
19,801,542 | ||||
Energy Equipment & Services – 0.9% | ||||
133,800 | Archrock, Inc. (a) | 1,560,108 | ||
Gas Utilities – 6.8% | ||||
54,620 | AltaGas Ltd. (CAD) (a) | 1,078,192 | ||
17,900 | Atmos Energy Corp. (a) | 2,178,609 | ||
98,034 | National Fuel Gas Co. (a) | 5,206,586 | ||
35,670 | New Jersey Resources Corp. | 1,594,449 |
First Trust New Opportunities MLP & Energy Fund (FPL)
Portfolio of Investments (Continued)
July 31, 2023 (Unaudited)
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Gas Utilities (Continued) | ||||
19,200 | ONE Gas, Inc. | $1,519,296 | ||
12,840 | UGI Corp. | 346,552 | ||
11,923,684 | ||||
Independent Power & Renewable Electricity Producers – 1.0% | ||||
37,300 | AES (The) Corp. (c) | 806,799 | ||
33,390 | Clearway Energy, Inc., Class A (a) | 823,731 | ||
8,000 | EDP Renovaveis S.A. (EUR) | 152,787 | ||
1,783,317 | ||||
Multi-Utilities – 8.8% | ||||
60,000 | Atco Ltd., Class I (CAD) (a) | 1,712,661 | ||
7,170 | CenterPoint Energy, Inc. (a) | 215,745 | ||
16,450 | CMS Energy Corp. (a) | 1,004,602 | ||
17,380 | DTE Energy Co. (a) | 1,986,534 | ||
54,370 | Public Service Enterprise Group, Inc. (c) | 3,431,834 | ||
40,400 | Sempra (c) | 6,020,408 | ||
11,130 | WEC Energy Group, Inc. | 1,000,142 | ||
15,371,926 | ||||
Oil, Gas & Consumable Fuels – 31.7% | ||||
80,000 | BP PLC, ADR (c) | 2,984,000 | ||
9,410 | Cheniere Energy, Inc. (c) | 1,523,103 | ||
117,040 | DT Midstream, Inc. (a) | 6,263,981 | ||
103,085 | Enbridge, Inc. | 3,793,528 | ||
130,664 | Keyera Corp. (CAD) (a) | 3,270,935 | ||
363,998 | Kinder Morgan, Inc. (a) | 6,446,404 | ||
100,006 | ONEOK, Inc. (c) | 6,704,402 | ||
53,000 | Shell PLC, ADR (c) | 3,266,390 | ||
45,500 | Targa Resources Corp. | 3,730,545 | ||
75,109 | TC Energy Corp. (c) | 2,694,160 | ||
58,800 | TotalEnergies SE, ADR (c) | 3,577,980 | ||
320,178 | Williams (The) Cos., Inc. (c) | 11,030,132 | ||
55,285,560 | ||||
Semiconductors & Semiconductor Equipment – 0.1% | ||||
1,300 | Enphase Energy, Inc. (d) | 197,379 | ||
Water Utilities – 0.3% | ||||
3,200 | American Water Works Co., Inc. | 471,776 | ||
Total Common Stocks | 106,395,292 | |||
(Cost $105,494,169) | ||||
MONEY MARKET FUNDS – 3.4% | ||||
5,861,275 | Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class - 5.13% (e) | 5,861,275 | ||
(Cost $5,861,275) | ||||
Total Investments – 125.9% | 219,832,129 | |||
(Cost $183,310,395) |
Number of Contracts | Description | Notional Amount | Exercise Price | Expiration Date | Value | |||||
CALL OPTIONS WRITTEN – (0.3)% | ||||||||||
(373) | AES (The) Corp. | $(806,799) | $23.00 | 09/15/23 | (13,055) | |||||
(404) | Alliant Energy Corp. | (2,171,096) | 57.50 | 09/15/23 | (12,120) | |||||
(800) | BP PLC, ADR | (2,984,000) | 39.00 | 08/18/23 | (18,400) |
First Trust New Opportunities MLP & Energy Fund (FPL)
Portfolio of Investments (Continued)
July 31, 2023 (Unaudited)
Number of Contracts | Description | Notional Amount | Exercise Price | Expiration Date | Value | |||||
CALL OPTIONS WRITTEN (Continued) | ||||||||||
(94) | Cheniere Energy, Inc. | $(1,521,484) | $175.00 | 09/15/23 | $(14,100) | |||||
(253) | NextEra Energy Partners, L.P. | (1,377,585) | 60.00 | 09/15/23 | (12,650) | |||||
(134) | NextEra Energy, Inc. | (982,220) | 75.00 | 08/18/23 | (10,720) | |||||
(1,000) | ONEOK, Inc. | (6,704,000) | 70.00 | 09/15/23 | (100,000) | |||||
(585) | PPL Corp. | (1,610,505) | 27.00 | 08/18/23 | (46,800) | |||||
(543) | Public Service Enterprise Group, Inc. | (3,427,416) | 65.00 | 08/18/23 | (16,290) | |||||
(404) | Sempra | (6,020,408) | 150.00 | 08/18/23 | (94,940) | |||||
(530) | Shell PLC, ADR | (3,266,390) | 62.50 | 08/18/23 | (26,500) | |||||
(751) | TC Energy Corp. | (2,693,837) | 40.00 | 08/18/23 | (3,755) | |||||
(588) | TotalEnergies SE, ADR | (3,577,980) | 62.50 | 08/18/23 | (27,048) | |||||
(1,600) | Williams (The) Cos., Inc. | (5,512,000) | 34.00 | 08/18/23 | (156,800) | |||||
(1,601) | Williams (The) Cos., Inc. | (5,515,445) | 35.50 | 08/18/23 | (48,030) | |||||
Total Call Options Written | (601,208) | |||||||||
(Premiums received $547,997) |
Outstanding Loan – (25.7)% | (44,900,000) | |
Net Other Assets and Liabilities – 0.1% | 283,340 | |
Net Assets – 100.0% | $174,614,261 |
(a) | All or a portion of this security serves as collateral on the outstanding loan. At July 31, 2023, the segregated value of these securities amounts to $103,607,746. |
(b) | This security is taxed as a “C” corporation for federal income tax purposes. |
(c) | All or a portion of this security’s position represents cover for outstanding options written. |
(d) | Non-income producing security. |
(e) | Rate shown reflects yield as of July 31, 2023. |
Abbreviations throughout the Portfolio of Investments: | |
ADR | American Depositary Receipt |
CAD | Canadian Dollar |
EUR | Euro |
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.
First Trust New Opportunities MLP & Energy Fund (FPL)
Portfolio of Investments (Continued)
July 31, 2023 (Unaudited)
A summary of the inputs used to value the Fund’s investments as of July 31, 2023 is as follows:
ASSETS TABLE | ||||
Total Value at 7/31/2023 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Master Limited Partnerships* | $ 107,575,562 | $ 107,575,562 | $ — | $ — |
Common Stocks* | 106,395,292 | 106,395,292 | — | — |
Money Market Funds | 5,861,275 | 5,861,275 | — | — |
Total Investments | $ 219,832,129 | $ 219,832,129 | $— | $— |
LIABILITIES TABLE | ||||
Total Value at 7/31/2023 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Call Options Written | $ (601,208) | $ (541,058) | $ (60,150) | $ — |
* | See Portfolio of Investments for industry breakout. |