First Trust New Opportunities MLP & Energy Fund (FPL)
Portfolio of Investments
January 31, 2023 (Unaudited)
Shares | Description | Value | ||
COMMON STOCKS – 63.0% | ||||
Construction & Engineering – 0.6% | ||||
7,400 | Quanta Services, Inc. (a) | $1,126,206 | ||
Electric Utilities – 12.1% | ||||
32,400 | Alliant Energy Corp. (a) | 1,750,572 | ||
35,270 | American Electric Power Co., Inc. | 3,313,969 | ||
13,933 | Constellation Energy Corp. (a) | 1,189,321 | ||
4,800 | Duke Energy Corp. | 491,760 | ||
7,300 | Emera, Inc. (CAD) (b) | 290,672 | ||
247,250 | Enel S.p.A., ADR | 1,441,468 | ||
20,200 | Eversource Energy (b) | 1,663,066 | ||
65,800 | Exelon Corp. (a) | 2,776,102 | ||
4,400 | Fortis, Inc. (CAD) (b) | 180,788 | ||
6,200 | Iberdrola S.A., ADR | 291,400 | ||
12,700 | IDACORP, Inc. | 1,343,787 | ||
13,480 | NextEra Energy, Inc. | 1,006,012 | ||
6,490 | Orsted A/S, ADR | 191,520 | ||
58,520 | PPL Corp. | 1,732,192 | ||
31,080 | Southern (The) Co. | 2,103,495 | ||
14,800 | Xcel Energy, Inc. | 1,017,796 | ||
20,783,920 | ||||
Energy Equipment & Services – 0.8% | ||||
133,800 | Archrock, Inc. (b) | 1,325,958 | ||
Gas Utilities – 8.2% | ||||
223,620 | AltaGas Ltd. (CAD) (b) | 4,181,478 | ||
17,900 | Atmos Energy Corp. | 2,103,966 | ||
67,400 | National Fuel Gas Co. (b) | 3,913,244 | ||
35,670 | New Jersey Resources Corp. | 1,780,647 | ||
19,200 | ONE Gas, Inc. | 1,581,312 | ||
12,840 | UGI Corp. | 511,417 | ||
14,072,064 | ||||
Independent Power & Renewable Electricity Producers – 1.3% | ||||
37,300 | AES (The) Corp. (b) | 1,022,393 | ||
33,390 | Clearway Energy, Inc., Class A (b) | 1,070,149 | ||
8,000 | EDP Renovaveis S.A. (EUR) (c) | 174,009 | ||
2,266,551 | ||||
Multi-Utilities – 7.4% | ||||
60,000 | Atco Ltd., Class I (CAD) (b) | 1,909,286 | ||
57,670 | CenterPoint Energy, Inc. (b) | 1,737,020 | ||
16,450 | CMS Energy Corp. (b) | 1,039,475 | ||
17,380 | DTE Energy Co. (b) | 2,022,511 | ||
54,370 | Public Service Enterprise Group, Inc. (a) | 3,367,134 | ||
14,400 | Sempra Energy (a) | 2,308,752 | ||
3,130 | WEC Energy Group, Inc. | 294,189 | ||
12,678,367 | ||||
Oil, Gas & Consumable Fuels – 32.2% | ||||
93,600 | BP PLC, ADR (a) | 3,391,128 | ||
9,410 | Cheniere Energy, Inc. (a) | 1,437,754 | ||
113,098 | DT Midstream, Inc. (b) | 6,181,937 | ||
103,085 | Enbridge, Inc. (a) | 4,223,392 | ||
130,664 | Keyera Corp. (CAD) (b) | 2,980,461 | ||
363,998 | Kinder Morgan, Inc. (b) | 6,661,163 | ||
100,006 | ONEOK, Inc. (a) (b) | 6,848,411 |
First Trust New Opportunities MLP & Energy Fund (FPL)
Portfolio of Investments (Continued)
January 31, 2023 (Unaudited)
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Oil, Gas & Consumable Fuels (Continued) | ||||
53,000 | Shell PLC, ADR | $3,116,930 | ||
45,500 | Targa Resources Corp. (b) | 3,413,410 | ||
75,109 | TC Energy Corp. (a) | 3,240,202 | ||
58,800 | TotalEnergies SE, ADR | 3,647,952 | ||
320,178 | Williams (The) Cos., Inc. (a) | 10,322,539 | ||
55,465,279 | ||||
Semiconductors & Semiconductor Equipment – 0.1% | ||||
800 | Enphase Energy, Inc. (d) | 177,104 | ||
Water Utilities – 0.3% | ||||
3,200 | American Water Works Co., Inc. | 500,768 | ||
Total Common Stocks | 108,396,217 | |||
(Cost $104,994,715) | ||||
Units | Description | Value | ||
MASTER LIMITED PARTNERSHIPS – 59.5% | ||||
Chemicals – 3.1% | ||||
210,988 | Westlake Chemical Partners, L.P. (b) | 5,392,853 | ||
Energy Equipment & Services – 0.4% | ||||
31,000 | USA Compression Partners, L.P. | 641,700 | ||
Gas Utilities – 0.8% | ||||
88,500 | Suburban Propane Partners, L.P. (b) | 1,396,530 | ||
Independent Power & Renewable Electricity Producers – 1.6% | ||||
37,319 | NextEra Energy Partners, L.P. (b) (e) | 2,735,483 | ||
Oil, Gas & Consumable Fuels – 53.6% | ||||
217,269 | Cheniere Energy Partners, L.P. (b) | 11,856,369 | ||
1,232,960 | Energy Transfer, L.P. (b) | 16,373,709 | ||
100,000 | EnLink Midstream, LLC (b) (e) | 1,272,000 | ||
692,564 | Enterprise Products Partners, L.P. (b) | 17,729,639 | ||
253,830 | Hess Midstream, L.P., Class A (b) (e) | 7,838,270 | ||
171,190 | Holly Energy Partners, L.P. (b) | 3,228,643 | ||
320,819 | Magellan Midstream Partners, L.P. (b) | 17,131,735 | ||
245,000 | MPLX, L.P. (b) | 8,555,400 | ||
519,720 | Plains All American Pipeline, L.P. (b) | 6,475,711 | ||
41,070 | TXO Energy Partners, L.P. (d) | 919,968 | ||
35,000 | Western Midstream Partners, L.P. (b) | 945,700 | ||
92,327,144 | ||||
Total Master Limited Partnerships | 102,493,710 | |||
(Cost $74,492,059) | ||||
Total Investments – 122.5% | 210,889,927 | |||
(Cost $179,486,774) |
Number of Contracts | Description | Notional Amount | Exercise Price | Expiration Date | Value | |||||
CALL OPTIONS WRITTEN – (0.2)% | ||||||||||
(324) | Alliant Energy Corp. | $(1,750,572) | $57.50 | 03/17/23 | (12,960) | |||||
(936) | BP PLC, ADR | (3,391,128) | 38.00 | 02/17/23 | (24,336) | |||||
(94) | Cheniere Energy, Inc. | (1,436,226) | 165.00 | 03/17/23 | (28,952) | |||||
(139) | Constellation Energy Corp. | (1,186,504) | 90.00 | 03/17/23 | (31,275) | |||||
(1,030) | Enbridge, Inc. | (4,219,910) | 42.50 | 02/17/23 | (13,390) |
First Trust New Opportunities MLP & Energy Fund (FPL)
Portfolio of Investments (Continued)
January 31, 2023 (Unaudited)
Number of Contracts | Description | Notional Amount | Exercise Price | Expiration Date | Value | |||||
CALL OPTIONS WRITTEN (Continued) | ||||||||||
(658) | Exelon Corp. (c) | $(2,776,102) | $46.00 | 02/17/23 | $(3,290) | |||||
(830) | ONEOK, Inc. | (5,683,840) | 75.00 | 03/17/23 | (33,200) | |||||
(543) | Public Service Enterprise Group, Inc. | (3,362,799) | 65.00 | 02/17/23 | (7,059) | |||||
(74) | Quanta Services, Inc. | (1,126,206) | 150.00 | 02/17/23 | (38,480) | |||||
(144) | Sempra Energy | (2,308,752) | 170.00 | 03/17/23 | (20,880) | |||||
(751) | TC Energy Corp. | (3,239,814) | 45.00 | 03/17/23 | (45,060) | |||||
(1,600) | Williams (The) Cos., Inc. | (5,158,400) | 35.00 | 02/17/23 | (8,000) | |||||
(1,601) | Williams (The) Cos., Inc. | (5,161,624) | 34.00 | 03/17/23 | (64,040) | |||||
Total Call Options Written | (330,922) | |||||||||
(Premiums received $463,414) |
Outstanding Loan – (24.9)% | (42,900,000) | |
Net Other Assets and Liabilities – 2.6% | 4,499,668 | |
Net Assets – 100.0% | $172,158,673 |
(a) | All or a portion of this security’s position represents cover for outstanding options written. |
(b) | All or a portion of this security serves as collateral on the outstanding loan. At January 31, 2023, the segregated value of these securities amounts to $101,052,449. |
(c) | This investment is fair valued by the Advisor’s Pricing Committee in accordance with procedures approved by the Fund’s Board of Trustees and in accordance with provisions of the Investment Company Act of 1940 and rules thereunder, as amended. At January 31, 2023, securities noted as such are valued at $170,719 or 0.1% of net assets. Certain of these securities are fair valued using a factor provided by a third-party pricing service due to the change in value between the foreign markets’ close and the New York Stock Exchange close exceeding a certain threshold. On days when this threshold is not exceeded, these securities are typically valued at the last sale price on the exchange on which they are principally traded. |
(d) | Non-income producing security. |
(e) | This security is taxed as a “C” corporation for federal income tax purposes. |
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)
January 31, 2023 (Unaudited)
A summary of the inputs used to value the Fund’s investments as of January 31, 2023 is as follows:
ASSETS TABLE | ||||
Total Value at 1/31/2023 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks: | ||||
Independent Power & Renewable Electricity Producers | $ 2,266,551 | $ 2,092,542 | $ 174,009 | $ — |
Other Industry Categories* | 106,129,666 | 106,129,666 | — | — |
Master Limited Partnerships* | 102,493,710 | 102,493,710 | — | — |
Total Investments | $ 210,889,927 | $ 210,715,918 | $ 174,009 | $— |
LIABILITIES TABLE | ||||
Total Value at 1/31/2023 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Call Options Written | $ (330,922) | $ (306,752) | $ (24,170) | $ — |
* | See Portfolio of Investments for industry breakout. |