| Fund | Costs of a $10,000 investment | Costs
paid as a percentage of a $10,000 investment |
| First Trust NASDAQ Technology Dividend Index Fund | $ |
|
(1) |
Annualized.
|
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
| International Business Machines Corp. | |
| Broadcom, Inc. | |
| Oracle Corp. | |
| Microsoft Corp. | |
| Texas Instruments, Inc. | |
| QUALCOMM, Inc. | |
| Taiwan Semiconductor Manufacturing Co., Ltd., ADR | |
| Analog Devices, Inc. | |
| Salesforce, Inc. | |
| AT&T, Inc. |
| Fund | Costs of a $10,000 investment | Costs
paid as a percentage of a $10,000 investment |
| Multi-Asset Diversified Income Index Fund | $ |
|
(1) |
|
|
(2) |
|
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
| First Trust Tactical High Yield ETF | |
| Mach Natural Resources, L.P. | |
| TXO Partners, L.P. | |
| Icahn Enterprises, L.P. | |
| ARMOUR Residential REIT, Inc. | |
| AGNC Investment Corp. | |
| Annaly Capital Management, Inc. | |
| Chimera Investment Corp. | |
| Kimbell Royalty Partners, L.P. | |
| Alliance Resource Partners, L.P. |
| Fund | Costs of a $10,000 investment | Costs
paid as a percentage of a $10,000 investment |
| First Trust S&P International Dividend Aristocrats ETF | $ |
|
(1) |
|
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
| TELUS Corp. | |
| Legal & General Group PLC | |
| APA Group | |
| Elisa Oyj | |
| Bank of Communications Co., Ltd., Class H | |
| Canadian Natural Resources Ltd. | |
| Schroders PLC | |
| Far East Horizon Ltd. | |
| DNB Bank ASA | |
| Pembina Pipeline Corp. |
| Fund | Costs of a $10,000 investment | Costs
paid as a percentage of a $10,000 investment |
| First Trust Rising Dividend Achievers ETF | $ |
|
(1) |
|
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
| Lam Research Corp. | |
| Applied Materials, Inc. | |
| KLA Corp. | |
| GE Vernova, Inc. | |
| Ross Stores, Inc. | |
| Baker Hughes Co. | |
| Alphabet, Inc., Class A | |
| Bank of New York Mellon (The) Corp. | |
| Mueller Industries, Inc. | |
| Chubb Ltd. |
| Fund | Costs of a $10,000 investment | Costs
paid as a percentage of a $10,000 investment |
| First Trust Dorsey Wright Focus 5 ETF | $ |
|
(1) |
|
|
(2) |
|
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
| First Trust NYSE® Arca® Biotechnology Index Fund | |
| First Trust Energy AlphaDEX® Fund | |
| First Trust Nasdaq Transportation ETF | |
| First Trust Indxx Aerospace & Defense ETF | |
| First Trust Nasdaq Semiconductor ETF | |
| Dreyfus Government Cash Management Fund, Institutional Shares |
| Fund | Costs of a $10,000 investment | Costs
paid as a percentage of a $10,000 investment |
| First Trust Dorsey Wright Momentum & Dividend ETF | $ |
|
(1) |
Annualized.
|
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
| Entergy Corp. | |
| Targa Resources Corp. | |
| Invesco Ltd. | |
| Popular, Inc. | |
| Morgan Stanley | |
| Citigroup, Inc. | |
| International Business Machines Corp. | |
| Welltower, Inc. | |
| Bank of New York Mellon (The) Corp. | |
| Northrop Grumman Corp. |
| Fund | Costs of a $10,000 investment | Costs
paid as a percentage of a $10,000 investment |
| First Trust RBA American Industrial Renaissance® ETF | $ |
|
(1) |
|
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
| Argan, Inc. | |
| MasTec, Inc. | |
| Comfort Systems USA, Inc. | |
| Sterling Infrastructure, Inc. | |
| EMCOR Group, Inc. | |
| Primoris Services Corp. | |
| Saia, Inc. | |
| BWX Technologies, Inc. | |
| SPX Technologies, Inc. | |
| Dycom Industries, Inc. |
| Fund | Costs of a $10,000 investment | Costs
paid as a percentage of a $10,000 investment |
| First Trust Dorsey Wright International Focus 5 ETF | $ |
|
(1) |
|
|
(2) |
|
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
| First Trust China AlphaDEX® Fund | |
| First Trust Europe AlphaDEX® Fund | |
| First Trust Eurozone AlphaDEX® ETF | |
| First Trust United Kingdom AlphaDEX® Fund | |
| First Trust Germany AlphaDEX® Fund | |
| Dreyfus Government Cash Management Fund, Institutional Shares |
| Fund | Costs of a $10,000 investment | Costs
paid as a percentage of a $10,000 investment |
| First Trust Dorsey Wright Dynamic Focus 5 ETF | $ |
|
(1) |
|
|
(2) |
|
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
| First Trust NYSE® Arca® Biotechnology Index Fund | |
| First Trust Energy AlphaDEX® Fund | |
| First Trust Nasdaq Transportation ETF | |
| First Trust Indxx Aerospace & Defense ETF | |
| First Trust Nasdaq Semiconductor ETF | |
| Dreyfus Government Cash Management Fund, Institutional Shares |
| Fund | Costs of a $10,000 investment | Costs
paid as a percentage of a $10,000 investment |
| First Trust SMID Cap Rising Dividend Achievers ETF | $ |
|
(1) |
Annualized.
|
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
| Comfort Systems USA, Inc. | |
| EnerSys | |
| Weatherford International PLC | |
| Clear Secure, Inc., Class A | |
| Primoris Services Corp. | |
| New York Times (The) Co., Class A | |
| Woodward, Inc. | |
| PriceSmart, Inc. | |
| Powell Industries, Inc. | |
| EMCOR Group, Inc. |
| Fund | Costs of a $10,000 investment | Costs
paid as a percentage of a $10,000 investment |
| First Trust Indxx Innovative Transaction & Process ETF | $ |
|
(1) |
Annualized.
|
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
| China CITIC Bank Corp., Ltd., Class H | |
| Industrial & Commercial Bank of China Ltd., Class H | |
| Morgan Stanley | |
| AT&T, Inc. | |
| JD.com, Inc., ADR | |
| Mitsubishi UFJ Financial Group, Inc., ADR | |
| Advanced Micro Devices, Inc. | |
| Zoetis, Inc. | |
| Engie S.A. | |
| PayPal Holdings, Inc. |
| Fund | Costs of a $10,000 investment | Costs
paid as a percentage of a $10,000 investment |
| First Trust Nasdaq Artificial Intelligence and Robotics ETF | $ |
|
(1) |
Annualized.
|
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
| Cloudflare, Inc., Class A | |
| Palo Alto Networks, Inc. | |
| Palantir Technologies, Inc., Class A | |
| C3.ai, Inc., Class A | |
| UiPath, Inc., Class A | |
| Dynatrace, Inc. | |
| CCC Intelligent Solutions Holdings, Inc. | |
| International Business Machines Corp. | |
| Oceaneering International, Inc. | |
| SentinelOne, Inc., Class A |
| Fund | Costs of a $10,000 investment | Costs
paid as a percentage of a $10,000 investment |
| First Trust Dorsey Wright Momentum & Low Volatility ETF | $ |
|
(1) |
|
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
| Entergy Corp. | |
| Welltower, Inc. | |
| McKesson Corp. | |
| Ross Stores, Inc. | |
| Ensign Group (The), Inc. | |
| Walmart, Inc. | |
| Bank of New York Mellon (The) Corp. | |
| Cencora, Inc. | |
| Hilton Worldwide Holdings, Inc. | |
| Cardinal Health, Inc. |
| Fund | Costs of a $10,000 investment | Costs
paid as a percentage of a $10,000 investment |
| First Trust Dorsey Wright Momentum & Value ETF | $ |
|
(1) |
|
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
| TD SYNNEX Corp. | |
| General Motors Co. | |
| Popular, Inc. | |
| Delta Air Lines, Inc. | |
| HCA Healthcare, Inc. | |
| McKesson Corp. | |
| WESCO International, Inc. | |
| Tenet Healthcare Corp. | |
| Cardinal Health, Inc. | |
| Citigroup, Inc. |
| Fund | Costs of a $10,000 investment | Costs
paid as a percentage of a $10,000 investment |
| First Trust International Developed Capital Strength® ETF | $ |
|
(1) |
Annualized.
|
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
| Imperial Oil Ltd. | |
| Rio Tinto PLC | |
| BHP Group Ltd. | |
| GSK PLC | |
| Singapore Telecommunications Ltd. | |
| Coca-Cola HBC AG | |
| Toronto-Dominion Bank (The) | |
| Singapore Exchange Ltd. | |
| Novartis AG | |
| AstraZeneca PLC |
| Fund | Costs of a $10,000 investment | Costs
paid as a percentage of a $10,000 investment |
| First Trust S&P 500 Economic Moat ETF | $ |
|
(1) |
Annualized.
|
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
| Texas Pacific Land Corp. | |
| Lockheed Martin Corp. | |
| Lam Research Corp. | |
| Applied Materials, Inc. | |
| KLA Corp. | |
| Tapestry, Inc. | |
| Jabil, Inc. | |
| Altria Group, Inc. | |
| Philip Morris International, Inc. | |
| Walmart, Inc. |
| Fund | Costs of a $10,000 investment | Costs
paid as a percentage of a $10,000 investment |
| First Trust RBA Deglobalization ETF | $ |
|
(1) |
Annualized.
|
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
| General Dynamics Corp. | |
| Union Pacific Corp. | |
| Leonardo DRS, Inc. | |
| Republic Services, Inc. | |
| EOG Resources, Inc. | |
| ConocoPhillips | |
| CSX Corp. | |
| Packaging Corp. of America | |
| Armstrong World Industries, Inc. | |
| Magnolia Oil & Gas Corp., Class A |
| Fund | Costs of a $10,000 investment | Costs
paid as a percentage of a $10,000 investment |
| First Trust International Rising Dividend Achievers ETF | $ |
|
(1) |
The
Fund commenced investment operations on February 10, 2026. Had the Fund
been in operation for a complete six months, the cost of a $10,000
investment would have been higher. |
|
(2) |
Annualized.
|
| Fund net assets | $ |
| Total number of portfolio holdings | |
| Portfolio turnover rate |
| Lasertec Corp. | |
| Sumitomo Electric Industries Ltd. | |
| Fujikura Ltd. | |
| ASML Holding N.V. | |
| Toyota Tsusho Corp. | |
| Obayashi Corp. | |
| Hanwha Aerospace Co., Ltd. | |
| Niterra Co., Ltd. | |
| Tokio Marine Holdings, Inc. | |
| Yangzijiang Shipbuilding Holdings Ltd. |
|
Semi-Annual
Financial
Statements
and
Other
Information |
|
For
the Six Months Ended
March 31,
2026 |

|
First
Trust NASDAQ Technology Dividend Index Fund
(TDIV) |
|
Multi-Asset
Diversified Income Index Fund (MDIV) |
|
First
Trust S&P International Dividend Aristocrats ETF
(FID) |
|
First
Trust Rising Dividend Achievers ETF (RDVY) |
|
First
Trust Dorsey Wright Focus 5 ETF (FV) |
|
First
Trust Dorsey Wright Momentum & Dividend ETF
(DDIV) |
|
First
Trust RBA American Industrial Renaissance® ETF
(AIRR) |
|
First
Trust Dorsey Wright International Focus 5 ETF
(IFV) |
|
First
Trust Dorsey Wright Dynamic Focus 5 ETF (FVC) |
|
First
Trust SMID Cap Rising Dividend Achievers ETF
(SDVY) |
|
First
Trust Indxx Innovative Transaction & Process ETF
(LEGR) |
|
First
Trust Nasdaq Artificial Intelligence and Robotics ETF
(ROBT) |
|
First
Trust Dorsey Wright Momentum & Low Volatility ETF
(DVOL) |
|
First
Trust Dorsey Wright Momentum & Value ETF
(DVLU) |
|
First
Trust International Developed Capital Strength® ETF
(FICS) |
|
First
Trust S&P 500 Economic Moat ETF
(EMOT) |
1 | |
|
4 | |
10 | |
|
14 | |
16 | |
|
17 | |
19 | |
|
21 | |
22 | |
|
23 | |
27 | |
|
32 | |
37 | |
|
39 | |
41 | |
|
44 | |
46 | |
|
50 | |
54 | |
|
61 | |
77 | |
|
93 |
|
Shares |
Description |
Value | |||
|
COMMON
STOCKS — 99.8% | |||||
|
|
Communications
Equipment —
5.3%
|
| |||
|
930,978 |
Cisco
Systems, Inc. |
$72,234,583 | |||
|
87,898 |
Ituran
Location and Control Ltd. |
4,307,881 | |||
|
153,394 |
Motorola
Solutions, Inc. |
66,568,394 | |||
|
2,048,908 |
Nokia
Oyj, ADR |
16,473,220 | |||
|
808,083 |
Telefonaktiebolaget
LM
Ericsson,
ADR |
9,107,095 | |||
|
23,429 |
Ubiquiti,
Inc. |
18,515,705 | |||
|
|
|
187,206,878 | |||
|
|
Diversified
Telecommunication Services
— 9.0%
|
| |||
|
2,641,041 |
AT&T,
Inc. |
76,563,778 | |||
|
76,344 |
Chunghwa
Telecom Co., Ltd.,
ADR |
3,224,771 | |||
|
2,389,391 |
Comcast
Corp., Class A |
68,599,416 | |||
|
269,533 |
Iridium
Communications, Inc. |
7,476,845 | |||
|
527,886 |
KT
Corp., ADR |
11,323,155 | |||
|
47,328 |
Shenandoah
Telecommunications
Co. |
729,798 | |||
|
247,197 |
Telefonica
Brasil S.A., ADR |
3,932,904 | |||
|
279,488 |
Telkom
Indonesia Persero Tbk
PT,
ADR |
5,220,836 | |||
|
5,383,956 |
TELUS
Corp. |
69,076,155 | |||
|
1,475,380 |
Verizon
Communications, Inc. |
74,064,076 | |||
|
|
|
320,211,734 | |||
|
|
Electronic
Equipment,
Instruments
& Components —
4.6%
|
| |||
|
321,706 |
Amphenol
Corp., Class A |
40,647,553 | |||
|
86,765 |
Avnet,
Inc. |
5,346,459 | |||
|
21,527 |
Benchmark
Electronics, Inc. |
1,206,804 | |||
|
135,192 |
CDW
Corp. |
16,360,936 | |||
|
6,789 |
Climb
Global Solutions, Inc. |
134,558 | |||
|
327,866 |
Corning,
Inc. |
44,579,940 | |||
|
8,395 |
ePlus,
Inc. |
631,724 | |||
|
179,556 |
Ingram
Micro Holding Corp. |
4,185,450 | |||
|
12,728 |
PC
Connection, Inc. |
744,079 | |||
|
47,488 |
TD
SYNNEX Corp. |
8,011,701 | |||
|
181,866 |
TE
Connectivity PLC |
38,013,631 | |||
|
135,619 |
Vishay
Intertechnology, Inc. |
2,441,142 | |||
|
|
|
162,303,977 | |||
|
|
Entertainment
— 0.1%
|
| |||
|
341,500 |
Tencent
Music Entertainment
Group,
ADR |
3,169,120 | |||
|
|
Interactive
Media & Services —
0.8%
|
| |||
|
323,472 |
Autohome,
Inc., ADR |
5,618,709 | |||
|
173,333 |
JOYY,
Inc., ADR |
10,120,914 | |||
|
Shares |
Description |
Value | |||
|
| |||||
|
|
Interactive
Media & Services
(Continued)
|
| |||
|
287,095 |
Match
Group, Inc. |
$8,816,687 | |||
|
346,250 |
Weibo
Corp., ADR |
3,029,688 | |||
|
|
|
27,585,998 | |||
|
|
IT
Services — 10.0%
|
| |||
|
166,693 |
Amdocs
Ltd. |
10,878,385 | |||
|
60,316 |
CGI,
Inc. |
4,409,100 | |||
|
472,273 |
Cognizant
Technology Solutions
Corp.,
Class A |
28,973,948 | |||
|
1,231,848 |
International
Business Machines
Corp. |
298,587,637 | |||
|
47,683 |
VeriSign,
Inc. |
11,842,550 | |||
|
673,427 |
Wipro
Ltd., ADR |
1,427,665 | |||
|
|
|
356,119,285 | |||
|
|
Professional
Services — 2.6%
|
| |||
|
164,951 |
Concentrix
Corp. |
4,513,059 | |||
|
101,415 |
KBR,
Inc. |
3,738,157 | |||
|
60,371 |
Leidos
Holdings, Inc. |
9,388,898 | |||
|
32,517 |
Paycom
Software, Inc. |
3,952,116 | |||
|
109,386 |
RELX
PLC, ADR |
3,626,146 | |||
|
37,145 |
Science
Applications
International
Corp. |
3,525,803 | |||
|
171,171 |
SS&C
Technologies Holdings,
Inc. |
11,566,025 | |||
|
563,466 |
Thomson
Reuters Corp. |
50,700,671 | |||
|
|
|
91,010,875 | |||
|
|
Semiconductors
&
Semiconductor
Equipment —
34.0%
|
| |||
|
87,991 |
Amkor
Technology, Inc. |
3,962,235 | |||
|
278,811 |
Analog
Devices, Inc. |
88,700,932 | |||
|
194,689 |
Applied
Materials, Inc. |
66,542,753 | |||
|
118,202 |
ASE
Technology Holding Co.,
Ltd.,
ADR |
2,562,619 | |||
|
22,922 |
ASML
Holding N.V. |
30,276,065 | |||
|
925,996 |
Broadcom,
Inc. |
286,605,022 | |||
|
271,303 |
Himax
Technologies, Inc., ADR |
2,135,155 | |||
|
32,645 |
KLA
Corp. |
48,066,824 | |||
|
31,578 |
Kulicke
& Soffa Industries, Inc. |
2,075,306 | |||
|
677,037 |
Microchip
Technology, Inc. |
43,743,361 | |||
|
13,762 |
Monolithic
Power Systems, Inc. |
15,046,683 | |||
|
231,661 |
NXP
Semiconductors N.V. |
45,604,784 | |||
|
49,922 |
Power
Integrations, Inc. |
2,556,006 | |||
|
1,039,274 |
QUALCOMM,
Inc. |
133,837,706 | |||
|
26,599 |
Silicon
Motion Technology
Corp.,
ADR |
2,986,802 | |||
|
365,197 |
Skyworks
Solutions, Inc. |
19,556,299 | |||
|
53,973 |
STMicroelectronics
N.V. |
1,864,767 | |||
|
394,979 |
Taiwan
Semiconductor
Manufacturing
Co., Ltd., ADR |
133,483,153 | |||
|
1,395,041 |
Texas
Instruments, Inc. |
270,833,260 | |||
|
Shares |
Description |
Value | |||
|
COMMON
STOCKS (Continued) | |||||
|
|
Semiconductors
&
Semiconductor
Equipment
(Continued)
|
| |||
|
278,434 |
United
Microelectronics Corp.,
ADR |
$2,500,337 | |||
|
40,772 |
Universal
Display Corp. |
3,737,162 | |||
|
|
|
1,206,677,231 | |||
|
|
Software
— 22.0%
|
| |||
|
45,860 |
A10
Networks, Inc. |
1,060,283 | |||
|
54,089 |
Adeia,
Inc. |
1,299,759 | |||
|
114,526 |
Bentley
Systems, Inc., Class B |
4,022,153 | |||
|
52,188 |
Clear
Secure, Inc., Class A |
2,526,421 | |||
|
63,354 |
Dolby
Laboratories, Inc.,
Class
A |
3,805,041 | |||
|
688,457 |
Gen
Digital, Inc. |
12,963,645 | |||
|
19,322 |
InterDigital,
Inc. |
5,835,244 | |||
|
155,419 |
Intuit,
Inc. |
67,200,067 | |||
|
41,962 |
Karooooo
Ltd. |
2,091,386 | |||
|
753,430 |
Microsoft
Corp. |
278,897,183 | |||
|
558,053 |
Open
Text Corp. |
12,411,099 | |||
|
1,943,813 |
Oracle
Corp. |
285,954,331 | |||
|
51,117 |
Roper
Technologies, Inc. |
18,088,262 | |||
|
410,708 |
Salesforce,
Inc. |
76,666,862 | |||
|
41,757 |
SAP
SE, ADR |
7,149,216 | |||
|
|
|
779,970,952 | |||
|
|
Technology
Hardware, Storage &
Peripherals — 5.6%
|
| |||
|
242,979 |
Dell
Technologies, Inc., Class C |
39,880,143 | |||
|
1,691,052 |
Hewlett
Packard Enterprise Co. |
40,263,948 | |||
|
2,886,733 |
HP,
Inc. |
55,454,141 | |||
|
129,981 |
Logitech
International S.A. |
11,843,869 | |||
|
212,666 |
NetApp,
Inc. |
21,774,872 | |||
|
79,564 |
Seagate
Technology
Holdings
PLC |
31,169,992 | |||
|
|
|
200,386,965 | |||
|
|
Wireless
Telecommunication Services
— 5.8%
|
| |||
|
507,623 |
America
Movil S.A.B. de C.V.,
ADR |
12,934,234 | |||
|
729,043 |
Millicom
International Cellular
S.A. |
54,634,482 | |||
|
1,324,111 |
Mobile
TeleSystems PJSC,
ADR
(a) (b) (c) (d) |
0 | |||
|
1,634,890 |
Rogers
Communications, Inc.,
Class
B |
62,861,520 | |||
|
90,471 |
SK
Telecom Co., Ltd., ADR |
2,649,896 | |||
|
340,760 |
T-Mobile
US, Inc. |
71,569,823 | |||
|
|
|
204,649,955 | |||
|
|
Total
Common Stocks |
3,539,292,970 | |||
|
|
(Cost
$2,962,030,418) |
| |||
|
Shares |
Description |
Value | |||
|
MONEY
MARKET FUNDS — 0.1% | |||||
|
2,097,981 |
Dreyfus
Government Cash
Management
Fund,
Institutional
Shares -
3.53%
(e) |
$2,097,981 | |||
|
|
(Cost
$2,097,981) |
| |||
|
| |||||
|
| |||||
|
|
Total
Investments — 99.9% |
3,541,390,951 | |||
|
|
(Cost
$2,964,128,399) |
| |||
|
|
Net
Other Assets and
Liabilities
— 0.1% |
3,454,053 | |||
|
|
Net
Assets — 100.0% |
$3,544,845,004 | |||
|
(a) |
Pursuant
to procedures adopted by the Trust’s Board of
Trustees,
this security has been determined to be illiquid by
First
Trust Advisors L.P., the Fund’s advisor. |
|
(b) |
Non-income
producing security. |
|
(c) |
This
security is fair valued by the Advisor’s Pricing
Committee
in accordance with procedures approved by the
Trust’s
Board of Trustees, and in accordance with provisions
of
the Investment Company Act of 1940 and rules
thereunder,
as amended. At March 31, 2026, securities noted
as
such are valued at $0 or 0.0% of net assets. |
|
(d) |
This
security’s value was determined using significant
unobservable
inputs (see Note
2A
- Portfolio Valuation in the
Notes
to Financial Statements). |
|
(e) |
Rate
shown reflects yield as of March 31,
2026. |
|
Abbreviations
throughout the Portfolio of Investments: | |
|
ADR |
–
American Depositary Receipt |
|
|
Total
Value at
3/31/2026 |
Level 1
Quoted
Prices |
Level 2
Significant
Observable
Inputs |
Level 3
Significant
Unobservable
Inputs |
|
Common
Stocks: |
|
|
|
|
|
Wireless
Telecommunication
Services |
$204,649,955 |
$204,649,955 |
$— |
$—
** |
|
Other
Industry
Categories* |
3,334,643,015 |
3,334,643,015 |
— |
— |
|
Money
Market
Funds |
2,097,981 |
2,097,981 |
— |
— |
|
Total
Investments |
$3,541,390,951 |
$3,541,390,951 |
$— |
$—
** |
|
* |
See
Portfolio of Investments for industry breakout. |
|
** |
Investment
is valued at $0. |
|
Shares |
Description |
Value | |||
|
EXCHANGE-TRADED
FUNDS — 20.2% | |||||
|
|
Capital
Markets — 20.2% |
| |||
|
1,971,377 |
First
Trust Tactical High Yield ETF (a) |
$79,978,765 | |||
|
|
(Cost
$91,302,838) |
| |||
|
Units |
Description |
Value | |||
|
MASTER
LIMITED PARTNERSHIPS — 20.2% | |||||
|
|
Energy
Equipment & Services — 0.9%
|
| |||
|
122,386 |
USA
Compression Partners, L.P. |
3,319,108 | |||
|
|
Industrial
Conglomerates — 1.5%
|
| |||
|
804,009 |
Icahn
Enterprises, L.P. |
6,070,268 | |||
|
|
Marine
Transportation — 0.0%
|
| |||
|
1,908 |
Navios
Maritime Partners, L.P. |
128,752 | |||
|
|
Oil,
Gas & Consumable Fuels — 17.8%
|
| |||
|
169,655 |
Alliance
Resource Partners, L.P. |
4,690,961 | |||
|
249,226 |
Black
Stone Minerals, L.P. |
3,768,297 | |||
|
39,188 |
Cheniere
Energy Partners, L.P. |
2,532,720 | |||
|
190,006 |
CrossAmerica
Partners, L.P. |
3,948,325 | |||
|
71,006 |
Delek
Logistics Partners, L.P. |
3,533,258 | |||
|
173,031 |
Dorchester
Minerals, L.P. |
4,689,140 | |||
|
155,763 |
Energy
Transfer, L.P. |
3,006,226 | |||
|
74,658 |
Enterprise
Products Partners, L.P. |
2,825,059 | |||
|
55,496 |
Global
Partners, L.P. |
2,336,382 | |||
|
87,114 |
Hess
Midstream, L.P., Class A (b) |
3,386,121 | |||
|
342,067 |
Kimbell
Royalty Partners, L.P. (b) |
4,949,709 | |||
|
497,719 |
Mach
Natural Resources, L.P. |
6,968,066 | |||
|
49,312 |
MPLX,
L.P. |
2,814,236 | |||
|
8,991 |
Natural
Resource Partners, L.P. |
1,087,911 | |||
|
159,399 |
Plains
All American Pipeline, L.P. |
3,559,380 | |||
|
138,919 |
Plains
GP Holdings, L.P., Class A (b) |
3,372,953 | |||
|
40,501 |
Sunoco,
L.P. |
2,631,350 | |||
|
517,597 |
TXO
Partners, L.P. |
6,511,370 | |||
|
86,081 |
Western
Midstream Partners, L.P. |
3,543,955 | |||
|
|
|
70,155,419 | |||
|
|
Total
Master Limited Partnerships |
79,673,547 | |||
|
|
(Cost
$56,012,825) |
| |||
|
Shares |
Description |
Value | |||
|
COMMON
STOCKS — 20.1% | |||||
|
|
Automobiles
— 0.4%
|
| |||
|
129,799 |
Ford
Motor Co. |
1,497,881 | |||
|
|
Banks
— 4.8%
|
| |||
|
16,726 |
Bank
of Hawaii Corp. |
1,241,906 | |||
|
27,206 |
Bank
OZK |
1,248,483 | |||
|
71,438 |
CVB
Financial Corp. |
1,385,183 | |||
|
54,684 |
First
Busey Corp. |
1,381,865 | |||
|
53,545 |
First
Hawaiian, Inc. |
1,319,349 | |||
|
140,508 |
Hope
Bancorp, Inc. |
1,569,474 | |||
|
Shares |
Description |
Value | |||
|
COMMON
STOCKS (Continued) | |||||
|
|
Banks
(Continued)
|
| |||
|
62,183 |
KeyCorp |
$1,246,769 | |||
|
168,855 |
Northwest
Bancshares, Inc. |
2,142,770 | |||
|
79,960 |
OceanFirst
Financial Corp. |
1,442,478 | |||
|
52,570 |
Peoples
Bancorp, Inc.
|
1,727,976 | |||
|
69,751 |
Provident
Financial Services, Inc. |
1,475,931 | |||
|
27,765 |
Truist
Financial Corp. |
1,276,357 | |||
|
40,981 |
WesBanco,
Inc. |
1,413,435 | |||
|
|
|
18,871,976 | |||
|
|
Beverages
— 0.3%
|
| |||
|
27,037 |
Molson
Coors Beverage Co., Class B |
1,164,213 | |||
|
|
Capital
Markets — 1.3%
|
| |||
|
59,075 |
Artisan
Partners Asset Management, Inc., Class A |
2,149,739 | |||
|
61,801 |
Franklin
Resources, Inc. |
1,459,740 | |||
|
17,193 |
T.
Rowe Price Group, Inc. |
1,549,777 | |||
|
|
|
5,159,256 | |||
|
|
Containers
& Packaging — 0.4%
|
| |||
|
26,347 |
Sonoco
Products Co. |
1,425,109 | |||
|
|
Diversified
Consumer Services — 0.4%
|
| |||
|
44,551 |
H&R
Block, Inc. |
1,414,049 | |||
|
|
Diversified
Telecommunication Services — 1.2%
|
| |||
|
51,173 |
AT&T,
Inc. |
1,483,505 | |||
|
48,506 |
Comcast
Corp., Class A |
1,392,607 | |||
|
41,469 |
Verizon
Communications, Inc. |
2,081,744 | |||
|
|
|
4,957,856 | |||
|
|
Electric
Utilities — 1.8%
|
| |||
|
24,431 |
Edison
International |
1,787,861 | |||
|
19,336 |
Eversource
Energy |
1,339,598 | |||
|
26,687 |
OGE
Energy Corp. |
1,279,908 | |||
|
12,965 |
Pinnacle
West Capital Corp. |
1,306,224 | |||
|
25,901 |
Portland
General Electric Co. |
1,366,796 | |||
|
|
|
7,080,387 | |||
|
|
Financial
Services — 0.8%
|
| |||
|
352,589 |
Western
Union (The) Co. |
3,078,102 | |||
|
|
Food
Products — 2.1%
|
| |||
|
70,021 |
Campbell’s
(The) Company |
1,559,368 | |||
|
132,983 |
Conagra
Brands, Inc. |
2,090,493 | |||
|
39,309 |
General
Mills, Inc. |
1,463,081 | |||
|
12,137 |
J.M.
Smucker (The) Co. |
1,170,492 | |||
|
92,689 |
Kraft
Heinz (The) Co. |
2,084,575 | |||
|
|
|
8,368,009 | |||
|
|
Gas
Utilities — 1.3%
|
| |||
|
23,330 |
New
Jersey Resources Corp. |
1,281,283 | |||
|
26,931 |
Northwest
Natural Holding Co. |
1,433,268 | |||
|
13,906 |
Spire,
Inc. |
1,259,049 | |||
|
33,835 |
UGI
Corp. |
1,232,271 | |||
|
|
|
5,205,871 | |||
|
Shares |
Description |
Value | |||
|
COMMON
STOCKS (Continued) | |||||
|
|
Household
Products — 0.6%
|
| |||
|
11,657 |
Clorox
(The) Co. |
$1,208,015 | |||
|
54,167 |
Reynolds
Consumer Products, Inc. |
1,147,257 | |||
|
|
|
2,355,272 | |||
|
|
Insurance
— 1.1%
|
| |||
|
27,098 |
CNA
Financial Corp. |
1,244,340 | |||
|
16,721 |
Prudential
Financial, Inc. |
1,633,475 | |||
|
20,166 |
Safety
Insurance Group, Inc. |
1,464,858 | |||
|
|
|
4,342,673 | |||
|
|
Media
— 0.3%
|
| |||
|
14,937 |
Omnicom
Group, Inc. |
1,124,906 | |||
|
|
Multi-Utilities
— 0.8%
|
| |||
|
39,553 |
Avista
Corp. |
1,587,657 | |||
|
23,786 |
Dominion
Energy, Inc. |
1,470,451 | |||
|
|
|
3,058,108 | |||
|
|
Oil,
Gas & Consumable Fuels — 1.1%
|
| |||
|
21,274 |
ONEOK,
Inc. |
1,922,957 | |||
|
48,684 |
Viper
Energy, Inc., Class A |
2,287,661 | |||
|
|
|
4,210,618 | |||
|
|
Pharmaceuticals
— 0.9%
|
| |||
|
24,546 |
Bristol-Myers
Squibb Co. |
1,488,715 | |||
|
79,630 |
Pfizer,
Inc. |
2,236,010 | |||
|
|
|
3,724,725 | |||
|
|
Tobacco
— 0.5%
|
| |||
|
32,899 |
Altria
Group, Inc. |
2,171,005 | |||
|
|
Total
Common Stocks |
79,210,016 | |||
|
|
(Cost
$78,683,871) |
| |||
|
Shares |
Description |
Stated
Rate |
Stated
Maturity |
Value | |
|
$25
PAR PREFERRED SECURITIES — 20.0% | |||||
|
|
Banks
— 0.8%
|
| |||
|
126,329 |
Fifth
Third Bancorp, Series I (c) |
7.97% |
(d) |
3,179,701 | |
|
|
Capital
Markets — 3.4%
|
| |||
|
112,804 |
Affiliated
Managers Group, Inc. |
6.75% |
03/30/64 |
2,526,810 | |
|
111,035 |
Morgan
Stanley, Series E |
7.13% |
(d) |
2,794,751 | |
|
108,881 |
Morgan
Stanley, Series F |
6.88% |
(d) |
2,727,469 | |
|
101,082 |
Morgan
Stanley, Series I |
6.38% |
(d) |
2,482,574 | |
|
112,733 |
TPG
Operating Group II, L.P. |
6.95% |
03/15/64 |
2,816,070 | |
|
|
|
|
|
|
13,347,674 |
|
|
Consumer
Finance — 0.8%
|
| |||
|
121,699 |
Synchrony
Financial, Series B (c) |
8.25% |
(d) |
3,064,381 | |
|
|
Financial
Services — 1.6%
|
| |||
|
112,756 |
Apollo
Global Management, Inc. (c) |
7.63% |
09/15/53 |
2,867,385 | |
|
123,045 |
Citigroup
Capital XIII, 3 Mo. CME Term SOFR +
CSA +
6.37%
(e) |
10.30% |
10/30/40 |
3,611,371 | |
|
|
|
|
|
|
6,478,756 |
|
Shares |
Description |
Stated
Rate |
Stated
Maturity |
Value | |
|
$25
PAR PREFERRED SECURITIES (Continued) | |||||
|
|
Food
Products — 1.5%
|
| |||
|
115,546 |
CHS,
Inc., Series 1 |
7.88% |
(d) |
$2,972,998 | |
|
113,585 |
CHS,
Inc., Series 4 |
7.50% |
(d) |
2,869,157 | |
|
|
|
|
|
|
5,842,155 |
|
|
Hotel
& Resort REITs — 0.7%
|
| |||
|
120,408 |
RLJ
Lodging Trust, Series A |
1.95% |
(d) |
2,901,833 | |
|
|
Insurance
— 3.7%
|
| |||
|
112,850 |
Allstate
(The) Corp., 3 Mo. CME Term SOFR +
CSA +
3.17% (e) |
7.11% |
01/15/53 |
2,907,016 | |
|
114,375 |
Athene
Holding Ltd. (c) |
7.25% |
03/30/64 |
2,708,400 | |
|
122,632 |
F&G
Annuities & Life, Inc. |
7.95% |
12/15/53 |
3,054,763 | |
|
127,192 |
Lincoln
National Corp., Series D |
9.00% |
(d) |
3,324,799 | |
|
109,472 |
Reinsurance
Group of America, Inc. (c) |
7.13% |
10/15/52 |
2,781,683 | |
|
|
|
|
|
|
14,776,661 |
|
|
Mortgage
REITs — 6.6%
|
| |||
|
149,027 |
AGNC
Investment Corp., Series C, 3 Mo. CME Term SOFR +
CSA
+
5.11% (e) |
9.05% |
(d) |
3,751,009 | |
|
148,702 |
AGNC
Investment Corp., Series E, 3 Mo. CME Term SOFR +
CSA
+
4.99% (e) |
8.94% |
(d) |
3,711,602 | |
|
141,501 |
Annaly
Capital Management, Inc., Series F, 3 Mo. CME Term
SOFR
+
CSA +
4.99% (e) |
8.94% |
(d) |
3,557,335 | |
|
138,529 |
Annaly
Capital Management, Inc., Series G, 3 Mo. CME Term
SOFR
+
CSA +
4.17% (e) |
8.12% |
(d) |
3,380,108 | |
|
146,658 |
Annaly
Capital Management, Inc., Series I, 3 Mo. CME Term
SOFR
+
CSA +
4.99% (e) |
8.93% |
(d) |
3,634,185 | |
|
184,571 |
Chimera
Investment Corp., Series B, 3 Mo. CME Term SOFR +
CSA
+
5.79% (e) |
9.75% |
(d) |
4,031,031 | |
|
162,233 |
Rithm
Capital Corp., Series B, 3 Mo. CME Term SOFR +
CSA +
5.64%
(e) |
9.58% |
(d) |
3,932,528 | |
|
|
|
|
|
|
25,997,798 |
|
|
Multi-Utilities
— 0.9%
|
| |||
|
129,473 |
Algonquin
Power & Utilities Corp., Series 19-A, 3 Mo. CME Term
SOFR
+
CSA +
4.01% (e) |
8.86% |
07/01/79 |
3,376,656 | |
|
|
Total
$25 Par Preferred Securities |
78,965,615 | |||
|
|
(Cost
$82,415,980) |
| |||
|
Shares |
Description |
Value | |||
|
REAL
ESTATE INVESTMENT TRUSTS — 19.0% | |||||
|
|
Diversified
REITs — 0.8%
|
|
|
|
|
|
178,052 |
American
Assets Trust, Inc. |
3,277,937 | |||
|
|
Health
Care REITs — 1.2%
|
|
|
|
|
|
24,334 |
National
Health Investors, Inc. |
1,967,647 | |||
|
58,398 |
Omega
Healthcare Investors, Inc. |
2,559,001 | |||
|
|
|
|
|
|
4,526,648 |
|
|
Hotel
& Resort REITs — 1.5%
|
|
|
|
|
|
310,479 |
Apple
Hospitality REIT, Inc. |
3,573,614 | |||
|
22,949 |
Ryman
Hospitality Properties, Inc. |
2,117,504 | |||
|
|
|
|
|
|
5,691,118 |
|
|
Mortgage
REITs — 7.5%
|
|
|
|
|
|
520,063 |
AGNC
Investment Corp. |
5,216,232 | |||
|
Shares |
Description |
Value | |||
|
REAL
ESTATE INVESTMENT TRUSTS (Continued) | |||||
|
|
Mortgage
REITs (Continued)
|
|
|
|
|
|
241,663 |
Annaly
Capital Management, Inc. |
$5,111,173 | |||
|
402,784 |
Apollo
Commercial Real Estate Finance, Inc. |
4,253,399 | |||
|
361,021 |
ARMOUR
Residential REIT, Inc. |
6,021,830 | |||
|
406,388 |
Chimera
Investment Corp. |
5,100,169 | |||
|
419,780 |
Rithm
Capital Corp. |
3,979,514 | |||
|
|
|
|
|
|
29,682,317 |
|
|
Retail
REITs — 3.3%
|
|
|
|
|
|
66,590 |
Brixmor
Property Group, Inc. |
1,917,792 | |||
|
18,708 |
Federal
Realty Investment Trust |
1,986,977 | |||
|
89,244 |
Getty
Realty Corp. |
2,837,959 | |||
|
93,900 |
Kimco
Realty Corp. |
2,109,933 | |||
|
58,166 |
NNN
REIT, Inc. |
2,444,717 | |||
|
10,118 |
Simon
Property Group, Inc. |
1,887,310 | |||
|
|
|
|
|
|
13,184,688 |
|
|
Specialized
REITs — 4.7%
|
|
|
|
|
|
62,475 |
CubeSmart |
2,289,709 | |||
|
50,560 |
EPR
Properties |
2,525,978 | |||
|
14,353 |
Extra
Space Storage, Inc. |
1,882,109 | |||
|
105,026 |
Four
Corners Property Trust, Inc. |
2,483,865 | |||
|
65,369 |
Gaming
and Leisure Properties, Inc. |
2,900,422 | |||
|
16,191 |
Lamar
Advertising Co., Class A |
2,050,752 | |||
|
6,531 |
Public
Storage |
1,769,117 | |||
|
96,030 |
VICI
Properties, Inc. |
2,623,540 | |||
|
|
|
|
|
|
18,525,492 |
|
|
Total
Real Estate Investment Trusts |
74,888,200 | |||
|
|
(Cost
$74,285,178) |
| |||
|
MONEY
MARKET FUNDS — 0.1% | |||||
|
514,337 |
Dreyfus
Government Cash Management Fund, Institutional Shares - 3.53%
(f) |
514,337 | |||
|
|
(Cost
$514,337) |
| |||
|
| |||||
|
| |||||
|
|
Total
Investments — 99.6% |
393,230,480 | |||
|
|
(Cost
$383,215,029) |
| |||
|
|
Net
Other Assets and Liabilities — 0.4% |
1,430,716 | |||
|
|
Net
Assets — 100.0% |
$394,661,196 | |||
|
(a) |
Investment
in an affiliated fund. |
|
(b) |
This
security is taxed as a “C” corporation for federal income tax
purposes. |
|
(c) |
Fixed-to-floating
or fixed-to-variable rate security. The interest rate shown reflects the
fixed rate in effect at March 31, 2026. At a
predetermined
date, the fixed rate will change to a floating rate or a variable
rate. |
|
(d) |
Perpetual
maturity. |
|
(e) |
Floating
or variable rate security. |
|
(f) |
Rate
shown reflects yield as of March 31,
2026. |
|
Abbreviations
throughout the Portfolio of Investments: | |
|
CME |
–
Chicago Mercantile Exchange |
|
CSA |
–
Credit Spread Adjustment |
|
REITs |
–
Real Estate Investment Trusts |
|
SOFR |
–
Secured Overnight Financing
Rate |
|
|
Total
Value at
3/31/2026 |
Level 1
Quoted
Prices |
Level 2
Significant
Observable
Inputs |
Level 3
Significant
Unobservable
Inputs |
|
Exchange-Traded
Funds* |
$79,978,765 |
$79,978,765 |
$— |
$— |
|
Master
Limited Partnerships* |
79,673,547 |
79,673,547 |
— |
— |
|
Common
Stocks* |
79,210,016 |
79,210,016 |
— |
— |
|
$25
Par Preferred Securities* |
78,965,615 |
78,965,615 |
— |
— |
|
Real
Estate Investment Trusts* |
74,888,200 |
74,888,200 |
— |
— |
|
Money
Market Funds |
514,337 |
514,337 |
— |
— |
|
Total
Investments |
$393,230,480 |
$393,230,480 |
$— |
$— |
|
* |
See
Portfolio of Investments for industry
breakout. |
|
Shares |
Description |
Value | |||
|
COMMON
STOCKS (a) — 99.1% | |||||
|
|
Air
Freight & Logistics — 1.0%
|
| |||
|
30,181 |
DHL
Group (EUR) (b) |
$1,590,756 | |||
|
|
Banks
— 7.4%
|
| |||
|
3,197,649 |
Bank
of Communications Co.,
Ltd.,
Class H (HKD) (b) |
2,890,045 | |||
|
24,116 |
Bank
of Nova Scotia (The)
(CAD) |
1,672,397 | |||
|
13,409 |
Banque
Cantonale Vaudoise
(CHF)
(b) |
2,180,910 | |||
|
288,173 |
China
Merchants Bank Co., Ltd.,
Class
H (HKD) (b) |
1,831,116 | |||
|
87,118 |
DNB
Bank ASA (NOK) (b) |
2,725,805 | |||
|
|
|
11,300,273 | |||
|
|
Beverages
— 1.1%
|
| |||
|
173,422 |
Coca-Cola
Femsa S.A.B. de
C.V.
(MXN) |
1,690,388 | |||
|
|
Broadline
Retail — 1.2%
|
| |||
|
13,658 |
Canadian
Tire Corp., Ltd.,
Class
A (CAD) |
1,836,775 | |||
|
|
Building
Products — 1.1%
|
| |||
|
47,700 |
AGC,
Inc. (JPY) (b) |
1,689,893 | |||
|
|
Capital
Markets — 3.7%
|
| |||
|
20,522 |
Julius
Baer Group Ltd.
(CHF)
(b) |
1,509,475 | |||
|
1,303 |
Partners
Group Holding AG
(CHF)
(b) |
1,404,427 | |||
|
356,394 |
Schroders
PLC (GBP) (b) |
2,744,058 | |||
|
|
|
5,657,960 | |||
|
|
Chemicals
— 2.1%
|
| |||
|
113,700 |
Kansai
Paint Co., Ltd. (JPY) (b) |
1,704,522 | |||
|
136,700 |
Zeon
Corp. (JPY) (b) |
1,557,871 | |||
|
|
|
3,262,393 | |||
|
|
Construction
& Engineering —
2.5%
|
| |||
|
35,771 |
Bouygues
S.A. (EUR) (b) |
2,073,180 | |||
|
136,700 |
Hazama
Ando Corp. (JPY) (b) |
1,710,632 | |||
|
|
|
3,783,812 | |||
|
|
Construction
Materials — 0.9%
|
| |||
|
16,741 |
Holcim
AG (CHF) (b) |
1,383,844 | |||
|
|
Consumer
Finance — 1.1%
|
| |||
|
13,981 |
Cembra
Money Bank AG
(CHF)
(b) |
1,729,743 | |||
|
|
Diversified
Telecommunication Services
— 9.2%
|
| |||
|
59,630 |
Elisa
Oyj (EUR) (b) |
2,904,617 | |||
|
357,241 |
Emirates
Telecommunications
Group
Co. PJSC (AED) (b) |
1,844,931 | |||
|
172,938 |
LG
Uplus Corp. (KRW) (b) |
1,798,496 | |||
|
Shares |
Description |
Value | |||
|
| |||||
|
|
Diversified
Telecommunication
Services
(Continued)
|
| |||
|
179,433 |
Saudi
Telecom Co. (SAR) (b) |
$2,033,661 | |||
|
2,087 |
Swisscom
AG (CHF) (b) |
1,751,334 | |||
|
283,241 |
TELUS
Corp. (CAD) |
3,640,535 | |||
|
|
|
13,973,574 | |||
|
|
Electric
Utilities — 9.4%
|
| |||
|
231,131 |
CK
Infrastructure Holdings Ltd.
(HKD)
(b) |
1,853,487 | |||
|
197,455 |
CLP
Holdings Ltd. (HKD) (b) |
1,859,017 | |||
|
434,831 |
EDP
S.A. (EUR) (b) |
2,301,006 | |||
|
35,647 |
Emera,
Inc. (CAD) |
1,847,822 | |||
|
210,086 |
Enel
S.p.A. (EUR) (b) |
2,296,846 | |||
|
280,527 |
Power
Assets Holdings Ltd.
(HKD)
(b) |
2,188,663 | |||
|
171,578 |
Terna-Rete
Elettrica Nazionale
(EUR)
(b) |
1,962,418 | |||
|
|
|
14,309,259 | |||
|
|
Entertainment
— 1.2%
|
| |||
|
73,110 |
International
Games System Co.,
Ltd.
(TWD) (b) |
1,746,378 | |||
|
|
Financial
Services — 1.8%
|
| |||
|
3,031,429 |
Far
East Horizon Ltd. (HKD) (b) |
2,740,616 | |||
|
|
Food
Products — 1.1%
|
| |||
|
17,295 |
Nestle
S.A. (CHF) (b) |
1,696,485 | |||
|
|
Gas
Utilities — 2.0%
|
| |||
|
435,094 |
APA
Group (AUD) (b) |
2,997,237 | |||
|
|
Health
Care Equipment & Supplies
— 0.9%
|
| |||
|
2,991,770 |
Shandong
Weigao Group
Medical
Polymer Co., Ltd.,
Class
H (HKD) (b) |
1,438,489 | |||
|
|
Household
Durables — 1.1%
|
| |||
|
75,100 |
Sekisui
House Ltd. (JPY) (b) |
1,682,771 | |||
|
|
Independent
Power and
Renewable
Electricity Producers
— 1.2%
|
| |||
|
73,120 |
ERG
S.p.A. (EUR) (b) |
1,866,863 | |||
|
|
Industrial
Conglomerates — 2.3%
|
| |||
|
47,556 |
GS
Holdings Corp. (KRW) (b) |
2,055,396 | |||
|
26,392 |
LG
Corp. (KRW) (b) |
1,492,293 | |||
|
|
|
3,547,689 | |||
|
|
Industrial
REITs — 4.1%
|
| |||
|
1,003,889 |
LondonMetric
Property PLC
(GBP)
(b) |
2,424,973 | |||
|
175,689 |
Segro
PLC (GBP) (b) |
1,506,095 | |||
|
85,929 |
Warehouses
De Pauw C.V.A.
(EUR)
(b) |
2,238,431 | |||
|
|
|
6,169,499 | |||
|
Shares |
Description |
Value | |||
|
COMMON
STOCKS (a) (Continued) | |||||
|
|
Insurance
— 7.6%
|
| |||
|
3,757 |
Allianz
SE (EUR) (b) |
$1,586,659 | |||
|
960,747 |
Legal
& General Group PLC
(GBP)
(b) |
3,157,316 | |||
|
205,453 |
Ping
An Insurance Group Co. of
China
Ltd., Class H
(HKD)
(b) |
1,579,772 | |||
|
28,159 |
Sun
Life Financial, Inc. (CAD) |
1,764,113 | |||
|
1,467 |
Swiss
Life Holding AG
(CHF)
(b) |
1,597,876 | |||
|
2,732 |
Zurich
Insurance Group AG
(CHF)
(b) |
1,931,028 | |||
|
|
|
11,616,764 | |||
|
|
Machinery
— 1.1%
|
| |||
|
57,684 |
Valmet
Oyj (EUR) (b) |
1,650,553 | |||
|
|
Multi-Utilities
— 2.4%
|
| |||
|
624,743 |
A2A
S.p.A. (EUR) (b) |
1,769,044 | |||
|
55,608 |
Canadian
Utilities Ltd., Class A
(CAD) |
1,953,135 | |||
|
|
|
3,722,179 | |||
|
|
Office
REITs — 2.0%
|
| |||
|
75,439 |
Derwent
London PLC (GBP) (b) |
1,576,318 | |||
|
1,971 |
Japan
Real Estate Investment
Corp.
(JPY) (b) |
1,451,259 | |||
|
|
|
3,027,577 | |||
|
|
Oil,
Gas & Consumable Fuels —
7.8%
|
| |||
|
57,534 |
Canadian
Natural Resources Ltd.
(CAD) |
2,806,597 | |||
|
63,553 |
Keyera
Corp. (CAD) |
2,458,333 | |||
|
36,574 |
Koninklijke
Vopak N.V.
(EUR)
(b) |
1,979,583 | |||
|
56,879 |
Pembina
Pipeline Corp. (CAD) |
2,546,082 | |||
|
34,133 |
TC
Energy Corp. (CAD) |
2,137,392 | |||
|
|
|
11,927,987 | |||
|
|
Paper
& Forest Products — 1.1%
|
| |||
|
298,500 |
Oji
Holdings Corp. (JPY) (b) |
1,614,900 | |||
|
|
Pharmaceuticals
— 3.5%
|
| |||
|
81,012 |
Hikma
Pharmaceuticals PLC
(GBP)
(b) |
1,360,657 | |||
|
21,197 |
Sanofi
S.A. (EUR) (b) |
2,047,001 | |||
|
54,000 |
Takeda
Pharmaceutical Co., Ltd.
(JPY)
(b) |
1,988,706 | |||
|
|
|
5,396,364 | |||
|
|
Professional
Services — 1.6%
|
| |||
|
40,603 |
Teleperformance
SE (EUR) (b) |
2,385,960 | |||
|
Shares |
Description |
Value | |||
|
| |||||
|
|
Real
Estate Management & Development
— 3.2%
|
| |||
|
665,991 |
Henderson
Land Development
Co.,
Ltd. (HKD) (b) |
$2,474,293 | |||
|
1,600,303 |
Sino
Land Co., Ltd. (HKD) (b) |
2,348,678 | |||
|
|
|
4,822,971 | |||
|
|
Retail
REITs — 1.2%
|
| |||
|
2,481 |
Japan
Metropolitan Fund Invest
(JPY)
(b) |
1,747,115 | |||
|
|
Semiconductors
&
Semiconductor
Equipment —
1.1%
|
| |||
|
433,274 |
Vanguard
International
Semiconductor
Corp.
(TWD)
(b) |
1,608,288 | |||
|
|
Technology
Hardware, Storage &
Peripherals — 1.2%
|
| |||
|
1,557,162 |
Lenovo
Group Ltd. (HKD) (b) |
1,872,818 | |||
|
|
Textiles,
Apparel & Luxury Goods
— 1.5%
|
| |||
|
4,482,134 |
Bosideng
International Holdings
Ltd.
(HKD) (b) |
2,307,085 | |||
|
|
Tobacco
— 1.2%
|
| |||
|
16,527 |
KT&G
Corp. (KRW) (b) |
1,777,193 | |||
|
|
Trading
Companies & Distributors
— 2.2%
|
| |||
|
23,654 |
DKSH
Holding AG (CHF) (b) |
1,740,625 | |||
|
46,345 |
Russel
Metals, Inc. (CAD) |
1,599,137 | |||
|
|
|
3,339,762 | |||
|
|
Transportation
Infrastructure —
1.6%
|
| |||
|
1,836,488 |
Jiangsu
Expressway Co., Ltd.,
Class
H (HKD) (b) |
2,368,308 | |||
|
|
Water
Utilities — 1.3%
|
| |||
|
110,862 |
United
Utilities Group PLC
(GBP)
(b) |
1,932,996 | |||
|
|
Wireless
Telecommunication Services
— 1.1%
|
| |||
|
43,046 |
Rogers
Communications, Inc.,
Class
B (CAD) |
1,655,496 | |||
|
|
Total
Common Stocks |
150,869,013 | |||
|
|
(Cost
$138,877,945) |
| |||
|
Shares |
Description |
Value | |||
|
MONEY
MARKET FUNDS — 0.1% | |||||
|
101,953 |
Dreyfus
Government Cash
Management
Fund,
Institutional
Shares -
3.53%
(c) |
$101,953 | |||
|
|
(Cost
$101,953) |
| |||
|
| |||||
|
| |||||
|
|
Total
Investments — 99.2% |
150,970,966 | |||
|
|
(Cost
$138,979,898) |
| |||
|
|
Net
Other Assets and
Liabilities
— 0.8% |
1,219,776 | |||
|
|
Net
Assets — 100.0% |
$152,190,742 | |||
|
(a) |
Securities
are issued in U.S. dollars unless otherwise
indicated
in the security description. |
|
(b) |
This
security is fair valued by the Advisor’s Pricing
Committee
in accordance with procedures approved by the
Trust’s
Board of Trustees, and in accordance with provisions
of
the Investment Company Act of 1940 and rules
thereunder,
as amended. At March 31, 2026, securities noted
as
such are valued at $123,260,811 or 81.0% 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. |
|
(c) |
Rate
shown reflects yield as of March 31,
2026. |
|
Abbreviations
throughout the Portfolio of Investments: | |
|
AED |
–
United Arab Emirates Dirham |
|
AUD |
–
Australian Dollar |
|
CAD |
–
Canadian Dollar |
|
CHF |
–
Swiss Franc |
|
EUR |
–
Euro |
|
GBP |
–
British Pound Sterling |
|
HKD |
–
Hong Kong Dollar |
|
JPY |
–
Japanese Yen |
|
KRW |
–
South Korean Won |
|
MXN |
–
Mexican Peso |
|
NOK |
–
Norwegian Krone |
|
REITs |
–
Real Estate Investment Trusts |
|
SAR |
–
Saudi Riyal |
|
TWD |
–
New Taiwan Dollar |
|
USD |
–
United States Dollar |
|
Currency
Exposure Diversification |
% of Total
Investments |
|
EUR |
19.0% |
|
HKD |
18.4 |
|
CAD |
17.2 |
|
CHF |
11.2 |
|
JPY |
10.0 |
|
GBP |
9.7 |
|
KRW |
4.7 |
|
TWD |
2.2 |
|
AUD |
2.0 |
|
NOK |
1.8 |
|
SAR |
1.4 |
|
AED |
1.2 |
|
MXN |
1.1 |
|
USD |
0.1 |
|
Total |
100.0% |
|
Country
Allocation†
|
% of Net
Assets |
|
Canada |
17.0% |
|
Switzerland |
11.1 |
|
Japan |
9.9 |
|
United
Kingdom |
9.7 |
|
Hong
Kong |
8.9 |
|
China |
6.6 |
|
Italy |
5.2 |
|
South
Korea |
4.7 |
|
France |
4.3 |
|
Finland |
3.0 |
|
Taiwan |
2.2 |
|
Germany |
2.1 |
|
Australia |
2.0 |
|
Norway |
1.8 |
|
Cayman
Islands |
1.5 |
|
Portugal |
1.5 |
|
Belgium |
1.5 |
|
Saudi
Arabia |
1.3 |
|
Netherlands |
1.3 |
|
Bermuda |
1.2 |
|
United
Arab Emirates |
1.2 |
|
Mexico |
1.1 |
|
United
States |
0.1 |
|
Total
Investments |
99.2 |
|
Net
Other Assets and Liabilities |
0.8 |
|
Total |
100.0% |
|
†
|
Portfolio
securities are categorized based upon their country of
incorporation,
which can be different from the country
categorization
of the Fund’s underlying
index. |
|
|
Total
Value at
3/31/2026 |
Level 1
Quoted
Prices |
Level 2
Significant
Observable
Inputs |
Level 3
Significant
Unobservable
Inputs |
|
Common
Stocks: |
|
|
|
|
|
Banks |
$11,300,273 |
$1,672,397 |
$9,627,876 |
$— |
|
Beverages |
1,690,388 |
1,690,388 |
— |
— |
|
Broadline
Retail |
1,836,775 |
1,836,775 |
— |
— |
|
Diversified
Telecommunication
Services |
13,973,574 |
3,640,535 |
10,333,039 |
— |
|
Electric
Utilities |
14,309,259 |
1,847,822 |
12,461,437 |
— |
|
Insurance |
11,616,764 |
1,764,113 |
9,852,651 |
— |
|
Multi-Utilities |
3,722,179 |
1,953,135 |
1,769,044 |
— |
|
Oil,
Gas &
Consumable
Fuels |
11,927,987 |
9,948,404 |
1,979,583 |
— |
|
Trading
Companies
&
Distributors |
3,339,762 |
1,599,137 |
1,740,625 |
— |
|
Wireless
Telecommunication
Services |
1,655,496 |
1,655,496 |
— |
— |
|
Other
Industry
Categories* |
75,496,556 |
— |
75,496,556 |
— |
|
Money
Market Funds |
101,953 |
101,953 |
— |
— |
|
Total
Investments |
$150,970,966 |
$27,710,155 |
$123,260,811 |
$— |
|
* |
See
Portfolio of Investments for country
breakout. |
|
Shares |
Description |
Value | |||
|
COMMON
STOCKS — 99.9% | |||||
|
|
Aerospace
& Defense — 1.9%
|
| |||
|
1,341,292 |
General
Electric Co. |
$380,618,431 | |||
|
|
Banks
— 9.5%
|
| |||
|
5,836,856 |
Bank
of America Corp. |
284,546,730 | |||
|
2,799,128 |
East
West Bancorp, Inc. |
298,834,905 | |||
|
1,314,092 |
JPMorgan
Chase & Co. |
386,553,303 | |||
|
1,978,388 |
PNC
Financial Services Group
(The),
Inc. |
411,682,759 | |||
|
7,721,729 |
Regions
Financial Corp. |
201,691,561 | |||
|
3,969,970 |
U.S.
Bancorp |
206,478,140 | |||
|
1,284,887 |
Wells
Fargo & Co. |
102,289,854 | |||
|
|
|
1,892,077,252 | |||
|
|
Beverages
— 1.4%
|
| |||
|
1,422,599 |
Coca-Cola
Consolidated, Inc. |
272,769,132 | |||
|
|
Biotechnology
— 0.5%
|
| |||
|
133,885 |
Regeneron
Pharmaceuticals, Inc. |
103,444,906 | |||
|
|
Broadline
Retail — 1.0%
|
| |||
|
2,234,078 |
eBay,
Inc. |
203,345,780 | |||
|
|
Capital
Markets — 7.0%
|
| |||
|
626,902 |
Ameriprise
Financial, Inc. |
278,595,249 | |||
|
3,656,424 |
Bank
of New York Mellon (The)
Corp. |
433,761,579 | |||
|
89,144 |
Blackrock,
Inc. |
85,730,676 | |||
|
1,099,305 |
Charles
Schwab (The) Corp. |
103,312,684 | |||
|
1,150,599 |
Raymond
James Financial, Inc. |
166,595,229 | |||
|
2,574,148 |
State
Street Corp. |
325,784,171 | |||
|
|
|
1,393,779,588 | |||
|
|
Commercial
Services & Supplies
— 1.3%
|
| |||
|
2,957,706 |
Veralto
Corp. |
261,520,364 | |||
|
|
Construction
& Engineering —
0.7%
|
| |||
|
1,549,921 |
AECOM |
131,464,299 | |||
|
|
Consumer
Finance — 3.2%
|
| |||
|
1,196,386 |
American
Express Co. |
361,882,838 | |||
|
4,052,114 |
Synchrony
Financial |
275,624,794 | |||
|
|
|
637,507,632 | |||
|
|
Consumer
Staples Distribution &
Retail — 1.6%
|
| |||
|
313,800 |
Costco
Wholesale Corp. |
312,679,734 | |||
|
|
Electrical
Equipment — 2.8%
|
| |||
|
626,345 |
GE
Vernova, Inc. |
546,736,550 | |||
|
|
Electronic
Equipment,
Instruments
& Components —
0.5%
|
| |||
|
716,509 |
Amphenol
Corp., Class A |
90,530,912 | |||
|
|
Energy
Equipment & Services —
2.5%
|
| |||
|
8,045,734 |
Baker
Hughes Co. |
491,192,061 | |||
|
Shares |
Description |
Value | |||
|
| |||||
|
|
Entertainment
— 0.6%
|
| |||
|
607,572 |
Electronic
Arts, Inc. |
$123,865,704 | |||
|
|
Financial
Services — 3.6%
|
| |||
|
543,801 |
Mastercard,
Inc., Class A |
271,715,607 | |||
|
2,264,744 |
PayPal
Holdings, Inc. |
102,434,371 | |||
|
1,135,478 |
Visa,
Inc., Class A |
343,186,871 | |||
|
|
|
717,336,849 | |||
|
|
Food
Products — 1.0%
|
| |||
|
1,828,425 |
Ingredion,
Inc. |
205,990,360 | |||
|
|
Ground
Transportation — 0.5%
|
| |||
|
545,407 |
Old
Dominion Freight Line, Inc. |
106,572,528 | |||
|
|
Health
Care Equipment & Supplies
— 1.9%
|
| |||
|
2,146,549 |
Abbott
Laboratories |
220,386,186 | |||
|
737,411 |
ResMed,
Inc. |
165,534,021 | |||
|
|
|
385,920,207 | |||
|
|
Health
Care Providers & Services
— 1.3%
|
| |||
|
554,630 |
Elevance
Health, Inc. |
162,367,933 | |||
|
121,414 |
McKesson
Corp. |
105,066,819 | |||
|
|
|
267,434,752 | |||
|
|
Hotels,
Restaurants & Leisure —
2.7%
|
| |||
|
77,854 |
Booking
Holdings, Inc. |
327,790,253 | |||
|
879,481 |
Expedia
Group, Inc. |
203,063,368 | |||
|
|
|
530,853,621 | |||
|
|
Household
Durables — 2.2%
|
| |||
|
823,510 |
Lennar
Corp., Class A |
71,513,609 | |||
|
3,160,443 |
PulteGroup,
Inc. |
371,699,701 | |||
|
|
|
443,213,310 | |||
|
|
Insurance
— 11.9%
|
| |||
|
926,714 |
Aflac,
Inc. |
101,669,793 | |||
|
1,840,716 |
Allstate
(The) Corp. |
381,654,055 | |||
|
1,283,990 |
Chubb
Ltd. |
418,490,861 | |||
|
1,239,763 |
Cincinnati
Financial Corp. |
195,076,708 | |||
|
2,863,992 |
Hartford
Insurance Group (The),
Inc. |
387,297,638 | |||
|
1,158,445 |
MetLife,
Inc. |
81,925,230 | |||
|
1,128,718 |
Progressive
(The) Corp. |
223,757,056 | |||
|
1,347,317 |
Travelers
(The) Cos., Inc. |
392,985,423 | |||
|
2,418,255 |
Unum
Group |
176,605,163 | |||
|
|
|
2,359,461,927 | |||
|
|
Interactive
Media & Services —
4.0%
|
| |||
|
1,601,889 |
Alphabet,
Inc., Class A |
460,639,201 | |||
|
579,560 |
Meta
Platforms, Inc., Class A |
331,583,663 | |||
|
|
|
792,222,864 | |||
|
Shares |
Description |
Value | |||
|
COMMON
STOCKS (Continued) | |||||
|
|
IT
Services — 2.8%
|
| |||
|
1,542,939 |
Accenture
PLC, Class A |
$305,949,375 | |||
|
4,007,435 |
Cognizant
Technology Solutions
Corp.,
Class A |
245,856,137 | |||
|
|
|
551,805,512 | |||
|
|
Machinery
— 7.5%
|
| |||
|
835,234 |
Allison
Transmission Holdings,
Inc. |
97,772,492 | |||
|
1,035,574 |
Dover
Corp. |
215,865,400 | |||
|
3,909,000 |
Mueller
Industries, Inc. |
433,117,200 | |||
|
2,829,826 |
PACCAR,
Inc. |
326,844,903 | |||
|
1,130,281 |
Snap-on,
Inc. |
410,540,665 | |||
|
|
|
1,484,140,660 | |||
|
|
Media
— 0.5%
|
| |||
|
1,578,739 |
Fox
Corp., Class A |
92,198,358 | |||
|
|
Pharmaceuticals
— 0.7%
|
| |||
|
562,836 |
Johnson
& Johnson |
137,579,632 | |||
|
|
Professional
Services — 1.5%
|
| |||
|
1,461,437 |
Automatic
Data Processing, Inc. |
296,934,770 | |||
|
|
Semiconductors
&
Semiconductor
Equipment —
14.1%
|
| |||
|
1,824,350 |
Applied
Materials, Inc. |
623,544,586 | |||
|
377,914 |
KLA
Corp. |
556,444,353 | |||
|
3,116,083 |
Lam
Research Corp. |
665,782,294 | |||
|
253,793 |
Micron
Technology, Inc. |
85,741,427 | |||
|
353,372 |
Monolithic
Power Systems, Inc. |
386,359,276 | |||
|
2,347,784 |
NVIDIA
Corp. |
409,453,530 | |||
|
601,630 |
QUALCOMM,
Inc. |
77,477,911 | |||
|
|
|
2,804,803,377 | |||
|
|
Software
— 3.2%
|
| |||
|
847,150 |
Microsoft
Corp. |
313,589,515 | |||
|
1,671,555 |
Salesforce,
Inc. |
312,029,172 | |||
|
|
|
625,618,687 | |||
|
|
Specialty
Retail — 4.5%
|
| |||
|
2,344,600 |
Ross
Stores, Inc. |
507,910,698 | |||
|
2,109,812 |
Williams-Sonoma,
Inc. |
384,682,022 | |||
|
|
|
892,592,720 | |||
|
|
Technology
Hardware, Storage &
Peripherals — 1.0%
|
| |||
|
802,156 |
Apple,
Inc. |
203,579,171 | |||
|
|
Textiles,
Apparel & Luxury Goods
— 0.5%
|
| |||
|
274,446 |
Ralph
Lauren Corp. |
94,406,680 | |||
|
|
Total
Common Stocks |
19,834,198,330 | |||
|
|
(Cost
$17,229,218,428) |
| |||
|
Shares |
Description |
Value | |||
|
MONEY
MARKET FUNDS — 0.1% | |||||
|
10,760,440 |
Dreyfus
Government Cash
Management
Fund,
Institutional
Shares -
3.53%
(a) |
$10,760,440 | |||
|
|
(Cost
$10,760,440) |
| |||
|
| |||||
|
| |||||
|
|
Total
Investments — 100.0% |
19,844,958,770 | |||
|
|
(Cost
$17,239,978,868) |
| |||
|
|
Net
Other Assets and
Liabilities
— 0.0% |
7,809,118 | |||
|
|
Net
Assets — 100.0% |
$19,852,767,888 | |||
|
(a) |
Rate
shown reflects yield as of March 31,
2026. |
|
|
Total
Value at
3/31/2026 |
Level 1
Quoted
Prices |
Level 2
Significant
Observable
Inputs |
Level 3
Significant
Unobservable
Inputs |
|
Common
Stocks* |
$19,834,198,330 |
$19,834,198,330 |
$— |
$— |
|
Money
Market
Funds |
10,760,440 |
10,760,440 |
— |
— |
|
Total
Investments |
$19,844,958,770 |
$19,844,958,770 |
$— |
$— |
|
* |
See
Portfolio of Investments for industry
breakout. |
|
Shares |
Description |
Value | |||
|
EXCHANGE-TRADED
FUNDS — 100.0% | |||||
|
|
Capital
Markets (a) — 100.0% |
| |||
|
28,936,056 |
First
Trust Energy AlphaDEX®
Fund |
$649,903,818 | |||
|
14,195,764 |
First
Trust Indxx Aerospace &
Defense
ETF |
634,692,608 | |||
|
4,242,393 |
First
Trust Nasdaq
Semiconductor
ETF |
625,625,696 | |||
|
16,978,445 |
First
Trust Nasdaq
Transportation
ETF |
647,048,539 | |||
|
3,383,294 |
First
Trust NYSE®
Arca®
Biotechnology
Index Fund (b) |
679,433,101 | |||
|
|
Total
Exchange-Traded Funds |
3,236,703,762 | |||
|
|
(Cost
$3,223,251,251) |
| |||
|
MONEY
MARKET FUNDS — 0.0% | |||||
|
1,003,949 |
Dreyfus
Government Cash
Management
Fund,
Institutional
Shares -
3.53%
(c) |
1,003,949 | |||
|
|
(Cost
$1,003,949) |
| |||
|
| |||||
|
| |||||
|
|
Total
Investments — 100.0% |
3,237,707,711 | |||
|
|
(Cost
$3,224,255,200) |
| |||
|
|
Net
Other Assets and
Liabilities
— (0.0)% |
(829,819
) | |||
|
|
Net
Assets — 100.0% |
$3,236,877,892 | |||
|
(a) |
Represents
investments in affiliated funds. |
|
(b) |
Non-income
producing security. |
|
(c) |
Rate
shown reflects yield as of March 31,
2026. |
|
|
Total
Value at
3/31/2026 |
Level 1
Quoted
Prices |
Level 2
Significant
Observable
Inputs |
Level 3
Significant
Unobservable
Inputs |
|
Exchange-Traded
Funds* |
$3,236,703,762 |
$3,236,703,762 |
$— |
$— |
|
Money
Market
Funds |
1,003,949 |
1,003,949 |
— |
— |
|
Total
Investments |
$3,237,707,711 |
$3,237,707,711 |
$— |
$— |
|
* |
See
Portfolio of Investments for industry
breakout. |
|
Shares |
Description |
Value | |||
|
COMMON
STOCKS — 99.9% | |||||
|
|
Aerospace
& Defense — 5.0%
|
| |||
|
2,556 |
Northrop
Grumman Corp. |
$1,743,805 | |||
|
7,192 |
RTX
Corp. |
1,387,337 | |||
|
|
|
3,131,142 | |||
|
|
Air
Freight & Logistics — 2.4%
|
| |||
|
8,897 |
C.H.
Robinson Worldwide, Inc. |
1,477,525 | |||
|
|
Banks
— 12.0%
|
| |||
|
16,417 |
Citigroup,
Inc. |
1,861,852 | |||
|
5,550 |
JPMorgan
Chase & Co. |
1,632,588 | |||
|
17,974 |
Popular,
Inc. |
2,411,572 | |||
|
20,023 |
Wells
Fargo & Co. |
1,594,031 | |||
|
|
|
7,500,043 | |||
|
|
Building
Products — 3.9%
|
| |||
|
6,352 |
Allegion
PLC |
922,882 | |||
|
11,520 |
Johnson
Controls
International
PLC |
1,508,544 | |||
|
|
|
2,431,426 | |||
|
|
Capital
Markets — 26.5%
|
| |||
|
14,999 |
Bank
of New York Mellon (The)
Corp. |
1,779,331 | |||
|
1,738 |
Blackrock,
Inc. |
1,671,452 | |||
|
33,027 |
Carlyle
Group (The), Inc. |
1,598,176 | |||
|
7,104 |
Charles
Schwab (The) Corp. |
667,634 | |||
|
1,566 |
Evercore,
Inc., Class A |
467,467 | |||
|
1,832 |
Goldman
Sachs Group (The),
Inc. |
1,549,854 | |||
|
6,266 |
Houlihan
Lokey, Inc. |
899,923 | |||
|
103,676 |
Invesco
Ltd. |
2,518,290 | |||
|
11,537 |
Morgan
Stanley |
1,898,644 | |||
|
6,335 |
Raymond
James Financial, Inc. |
917,245 | |||
|
14,176 |
Stifel
Financial Corp. |
1,047,890 | |||
|
40,342 |
TPG,
Inc. |
1,634,254 | |||
|
|
|
16,650,160 | |||
|
|
Chemicals
— 1.2%
|
| |||
|
4,346 |
Albemarle
Corp. |
780,237 | |||
|
|
Construction
Materials — 1.1%
|
| |||
|
6,352 |
CRH
PLC |
667,722 | |||
|
|
Consumer
Finance — 3.2%
|
| |||
|
1,358 |
American
Express Co. |
410,768 | |||
|
3,687 |
Capital
One Financial Corp. |
672,619 | |||
|
13,654 |
Synchrony
Financial |
928,745 | |||
|
|
|
2,012,132 | |||
|
|
Consumer
Staples Distribution &
Retail — 2.2%
|
| |||
|
11,859 |
Dollar
General Corp. |
1,408,019 | |||
|
Shares |
Description |
Value | |||
|
| |||||
|
|
Electric
Utilities — 6.4%
|
| |||
|
29,153 |
Entergy
Corp. |
$3,275,631 | |||
|
4,946 |
NRG
Energy, Inc. |
722,808 | |||
|
|
|
3,998,439 | |||
|
|
Electronic
Equipment,
Instruments
& Components —
3.9%
|
| |||
|
11,076 |
Corning,
Inc. |
1,506,004 | |||
|
5,580 |
TD
SYNNEX Corp. |
941,402 | |||
|
|
|
2,447,406 | |||
|
|
Health
Care Providers & Services
— 1.0%
|
| |||
|
3,086 |
Cardinal
Health, Inc. |
652,103 | |||
|
|
Health
Care REITs — 2.9%
|
| |||
|
9,054 |
Welltower,
Inc. |
1,790,066 | |||
|
|
Hotels,
Restaurants & Leisure —
2.2%
|
| |||
|
25,511 |
Las
Vegas Sands Corp. |
1,374,533 | |||
|
|
IT
Services — 2.9%
|
| |||
|
7,434 |
International
Business Machines
Corp. |
1,801,927 | |||
|
|
Machinery
— 4.1%
|
| |||
|
1,000 |
Caterpillar,
Inc. |
708,460 | |||
|
2,614 |
Cummins,
Inc. |
1,406,384 | |||
|
4,227 |
Mueller
Industries, Inc. |
468,352 | |||
|
|
|
2,583,196 | |||
|
|
Metals
& Mining — 3.7%
|
| |||
|
13,571 |
Freeport-McMoRan,
Inc. |
797,703 | |||
|
5,530 |
Newmont
Corp. |
598,623 | |||
|
5,102 |
Steel
Dynamics, Inc. |
918,360 | |||
|
|
|
2,314,686 | |||
|
|
Oil,
Gas & Consumable Fuels —
5.1%
|
| |||
|
12,774 |
Targa
Resources Corp. |
3,202,825 | |||
|
|
Passenger
Airlines — 1.0%
|
| |||
|
9,843 |
Delta
Air Lines, Inc. |
654,363 | |||
|
|
Personal
Care Products — 1.2%
|
| |||
|
10,257 |
Estee
Lauder (The) Cos., Inc.,
Class
A |
736,145 | |||
|
|
Professional
Services — 0.7%
|
| |||
|
2,793 |
Leidos
Holdings, Inc. |
434,367 | |||
|
|
Specialty
Retail — 1.0%
|
| |||
|
2,858 |
Ross
Stores, Inc. |
619,129 | |||
|
|
Technology
Hardware, Storage &
Peripherals — 1.1%
|
| |||
|
1,720 |
Seagate
Technology
Holdings
PLC |
673,827 | |||
|
Shares |
Description |
Value | |||
|
COMMON
STOCKS (Continued) | |||||
|
|
Textiles,
Apparel & Luxury Goods
— 2.5%
|
| |||
|
1,830 |
Ralph
Lauren Corp. |
$629,502 | |||
|
6,872 |
Tapestry,
Inc. |
969,708 | |||
|
|
|
1,599,210 | |||
|
|
Trading
Companies & Distributors
— 2.7%
|
| |||
|
7,360 |
Ferguson
Enterprises, Inc. |
1,716,794 | |||
|
|
Total
Common Stocks |
62,657,422 | |||
|
|
(Cost
$60,864,044) |
| |||
|
MONEY
MARKET FUNDS — 0.1% | |||||
|
55,866 |
Dreyfus
Government Cash
Management
Fund,
Institutional
Shares -
3.53%
(a) |
55,866 | |||
|
|
(Cost
$55,866) |
| |||
|
| |||||
|
| |||||
|
|
Total
Investments — 100.0% |
62,713,288 | |||
|
|
(Cost
$60,919,910) |
| |||
|
|
Net
Other Assets and
Liabilities
— 0.0% |
7,165 | |||
|
|
Net
Assets — 100.0% |
$62,720,453 | |||
|
(a) |
Rate
shown reflects yield as of March 31,
2026. |
|
Abbreviations
throughout the Portfolio of Investments: | |
|
REITs |
–
Real Estate Investment Trusts |
|
|
Total
Value at
3/31/2026 |
Level 1
Quoted
Prices |
Level 2
Significant
Observable
Inputs |
Level 3
Significant
Unobservable
Inputs |
|
Common
Stocks* |
$62,657,422 |
$62,657,422 |
$— |
$— |
|
Money
Market Funds |
55,866 |
55,866 |
— |
— |
|
Total
Investments |
$62,713,288 |
$62,713,288 |
$— |
$— |
|
* |
See
Portfolio of Investments for industry
breakout. |
|
Shares |
Description |
Value | |||
|
COMMON
STOCKS — 99.9% | |||||
|
|
Aerospace
& Defense — 12.0%
|
| |||
|
1,284,478 |
BWX
Technologies, Inc. |
$262,662,906 | |||
|
664,883 |
Huntington
Ingalls Industries,
Inc. |
252,589,052 | |||
|
2,423,586 |
Karman
Holdings, Inc. (a) |
194,008,059 | |||
|
2,265,849 |
Kratos
Defense & Security
Solutions,
Inc. (a) |
159,765,013 | |||
|
1,457,587 |
Leonardo
DRS, Inc. |
64,891,773 | |||
|
959,306 |
Mercury
Systems, Inc. (a) |
69,943,001 | |||
|
|
|
1,003,859,804 | |||
|
|
Air
Freight & Logistics — 3.0%
|
| |||
|
1,540,324 |
C.H.
Robinson Worldwide, Inc. |
255,801,607 | |||
|
|
Banks
— 8.0%
|
| |||
|
4,419,616 |
Associated
Banc-Corp. |
114,291,270 | |||
|
1,662,526 |
First
Financial Bancorp |
46,351,225 | |||
|
9,430,803 |
FNB
Corp. |
157,683,026 | |||
|
3,938,168 |
Fulton
Financial Corp. |
80,102,337 | |||
|
5,970,039 |
Old
National Bancorp |
131,937,862 | |||
|
1,022,591 |
Wintrust
Financial Corp. |
142,078,793 | |||
|
|
|
672,444,513 | |||
|
|
Building
Products — 8.2%
|
| |||
|
1,986,766 |
AAON,
Inc. |
164,404,887 | |||
|
936,664 |
Advanced
Drainage Systems,
Inc. |
128,444,734 | |||
|
342,283 |
CSW
Industrials, Inc. |
89,192,104 | |||
|
2,148,675 |
Owens
Corning |
232,529,608 | |||
|
1,684,108 |
Zurn
Elkay Water Solutions
Corp. |
75,515,403 | |||
|
|
|
690,086,736 | |||
|
|
Commercial
Services & Supplies
— 2.5%
|
| |||
|
719,277 |
Clean
Harbors, Inc. (a) |
206,238,294 | |||
|
|
Construction
& Engineering —
35.5%
|
| |||
|
438,898 |
Arcosa,
Inc. |
46,584,634 | |||
|
753,090 |
Argan,
Inc. |
410,170,469 | |||
|
254,301 |
Comfort
Systems USA, Inc. |
350,678,536 | |||
|
959,154 |
Construction
Partners, Inc.,
Class
A (a) |
106,581,192 | |||
|
759,995 |
Dycom
Industries, Inc. (a) |
257,501,506 | |||
|
402,104 |
EMCOR
Group, Inc. |
296,877,404 | |||
|
1,110,302 |
Everus
Construction Group,
Inc.
(a) |
131,082,254 | |||
|
1,303,125 |
Granite
Construction, Inc. (b) |
156,218,625 | |||
|
321,407 |
IES
Holdings, Inc. (a) |
153,140,793 | |||
|
1,210,824 |
MasTec,
Inc. (a) |
389,570,514 | |||
|
1,959,498 |
Primoris
Services Corp. |
280,286,594 | |||
|
815,213 |
Sterling
Infrastructure, Inc. (a) |
332,011,799 | |||
|
877,202 |
Tutor
Perini Corp. |
67,711,222 | |||
|
|
|
2,978,415,542 | |||
|
Shares |
Description |
Value | |||
|
| |||||
|
|
Electrical
Equipment — 3.0%
|
| |||
|
837,131 |
Atkore,
Inc. |
$49,315,387 | |||
|
283,929 |
Powell
Industries, Inc. |
153,628,303 | |||
|
6,855,992 |
Shoals
Technologies Group, Inc.,
Class
A (a) |
45,112,428 | |||
|
|
|
248,056,118 | |||
|
|
Ground
Transportation — 8.0%
|
| |||
|
834,904 |
Landstar
System, Inc. |
133,843,460 | |||
|
806,418 |
Ryder
System, Inc. |
165,081,829 | |||
|
756,135 |
Saia,
Inc. (a) |
265,615,103 | |||
|
1,895,286 |
Schneider
National, Inc., Class B |
49,959,739 | |||
|
1,792,483 |
Werner
Enterprises, Inc. |
52,716,925 | |||
|
|
|
667,217,056 | |||
|
|
Machinery
— 9.7%
|
| |||
|
1,063,779 |
Federal
Signal Corp. |
115,037,061 | |||
|
2,783,992 |
Mueller
Water Products, Inc.,
Class
A |
76,531,940 | |||
|
1,102,974 |
Oshkosh
Corp. |
162,368,803 | |||
|
357,746 |
RBC
Bearings, Inc. (a) |
194,299,007 | |||
|
1,312,657 |
SPX
Technologies, Inc. (a) |
262,452,641 | |||
|
|
|
810,689,452 | |||
|
|
Marine
Transportation — 1.9%
|
| |||
|
1,201,983 |
Kirby
Corp. (a) |
159,719,501 | |||
|
|
Trading
Companies & Distributors
— 8.1%
|
| |||
|
578,446 |
Applied
Industrial Technologies,
Inc. |
153,473,293 | |||
|
4,746,345 |
Core
& Main, Inc., Class A (a) |
234,469,443 | |||
|
3,879,487 |
DNOW,
Inc. (a) |
46,204,690 | |||
|
846,677 |
Herc
Holdings, Inc. |
84,286,695 | |||
|
1,178,891 |
MSC
Industrial Direct Co., Inc.,
Class
A |
108,776,272 | |||
|
1,365,946 |
Xometry,
Inc., Class A (a) |
55,785,235 | |||
|
|
|
682,995,628 | |||
|
|
Total
Common Stocks |
8,375,524,251 | |||
|
|
(Cost
$6,918,065,575) |
| |||
|
MONEY
MARKET FUNDS — 0.1% | |||||
|
11,103,602 |
Dreyfus
Government Cash
Management
Fund,
Institutional
Shares -
3.53%
(c) |
11,103,602 | |||
|
|
(Cost
$11,103,602) |
| |||
|
Principal
Value |
Description |
Value | |||
|
REPURCHASE
AGREEMENTS — 0.0% | |||||
|
$1,629,879 |
Daiwa
Capital Markets America,
Inc.,
3.66% (c), dated
03/31/26,
due 04/01/26, with a
maturity
value of $1,630,045.
Collateralized
by
U.S.
Treasury Securities,
interest
rates of 0.00% to
4.75%,
due 05/07/26 to
05/15/55.
The value of the
collateral
including accrued
interest
is $1,662,477. (d) |
$1,629,879 | |||
|
|
(Cost
$1,629,879) |
| |||
|
| |||||
|
| |||||
|
|
Total
Investments — 100.0% |
8,388,257,732 | |||
|
|
(Cost
$6,930,799,056) |
| |||
|
|
Net
Other Assets and
Liabilities
— (0.0)% |
(3,247,878
) | |||
|
|
Net
Assets — 100.0% |
$8,385,009,854 | |||
|
(a) |
Non-income
producing security. |
|
(b) |
All
or a portion of this security is on loan (see Note 2F
-
Securities
Lending in the Notes to Financial Statements). The
remaining
contractual maturity of all of the securities lending
transactions
is overnight and continuous. The aggregate
value
of such securities is $1,627,131 and the total value of
the
collateral held by the Fund, including for securities sold
and
pending settlement, is $1,629,879. |
|
(c) |
Rate
shown reflects yield as of March 31, 2026. |
|
(d) |
This
security serves as collateral for securities on
loan. |
|
|
Total
Value at
3/31/2026 |
Level 1
Quoted
Prices |
Level 2
Significant
Observable
Inputs |
Level 3
Significant
Unobservable
Inputs |
|
Common
Stocks* |
$8,375,524,251 |
$8,375,524,251 |
$— |
$— |
|
Money
Market
Funds |
11,103,602 |
11,103,602 |
— |
— |
|
Repurchase
Agreements |
1,629,879 |
— |
1,629,879 |
— |
|
Total
Investments |
$8,388,257,732 |
$8,386,627,853 |
$1,629,879 |
$— |
|
* |
See
Portfolio of Investments for industry
breakout. |
|
Securities
Lending Agency Agreement | |
|
Total
gross amount presented on the Statements
of
Assets and Liabilities(1)
|
$1,627,131 |
|
Non-cash
Collateral(2)
|
(1,627,131
) |
|
Net
Amount |
$— |
|
Repurchase
Agreements | |
|
Total
gross amount presented on the Statements
of
Assets and Liabilities(3)
|
$1,629,879 |
|
Non-cash
Collateral(4)
|
(1,629,879
) |
|
Net
Amount |
$— |
|
(1)
|
The
amount presented on the Statements of Assets and
Liabilities,
which is included in “Investments, at value,” is not
offset
and is shown on a gross basis. |
|
(2)
|
At
March 31, 2026, the value of the collateral received from
each
borrower exceeded the value of the related securities
loaned.
This amount is disclosed on the Portfolio of
Investments. |
|
(3)
|
The
amount is included in “Investments, at value” on the
Statements
of Assets and Liabilities. |
|
(4)
|
At
March 31, 2026, the value of the collateral received from
each
seller exceeded the value of the repurchase
agreements. |
|
Shares |
Description |
Value | |||
|
EXCHANGE-TRADED
FUNDS — 99.9% | |||||
|
|
Capital
Markets (a) — 99.9% |
| |||
|
1,528,173 |
First
Trust China AlphaDEX®
Fund |
$47,892,942 | |||
|
807,319 |
First
Trust Europe AlphaDEX®
Fund |
44,087,690 | |||
|
701,723 |
First
Trust Eurozone
AlphaDEX®
ETF |
43,696,291 | |||
|
692,944 |
First
Trust Germany
AlphaDEX®
Fund |
41,589,044 | |||
|
861,183 |
First
Trust United Kingdom
AlphaDEX®
Fund |
43,370,468 | |||
|
|
Total
Exchange-Traded Funds |
220,636,435 | |||
|
|
(Cost
$195,280,512) |
| |||
|
MONEY
MARKET FUNDS — 0.1% | |||||
|
314,099 |
Dreyfus
Government Cash
Management
Fund,
Institutional
Shares -
3.53%
(b) |
314,099 | |||
|
|
(Cost
$314,099) |
| |||
|
| |||||
|
| |||||
|
|
Total
Investments — 100.0% |
220,950,534 | |||
|
|
(Cost
$195,594,611) |
| |||
|
|
Net
Other Assets and
Liabilities
— (0.0)% |
(59,780
) | |||
|
|
Net
Assets — 100.0% |
$220,890,754 | |||
|
(a) |
Represents
investments in affiliated funds. |
|
(b) |
Rate
shown reflects yield as of March 31,
2026. |
|
|
Total
Value at
3/31/2026 |
Level 1
Quoted
Prices |
Level 2
Significant
Observable
Inputs |
Level 3
Significant
Unobservable
Inputs |
|
Exchange-Traded
Funds* |
$220,636,435 |
$220,636,435 |
$— |
$— |
|
Money
Market Funds |
314,099 |
314,099 |
— |
— |
|
Total
Investments |
$220,950,534 |
$220,950,534 |
$— |
$— |
|
* |
See
Portfolio of Investments for industry
breakout. |
|
Shares |
Description |
Value | |||
|
EXCHANGE-TRADED
FUNDS — 99.9% | |||||
|
|
Capital
Markets (a) — 99.9% |
| |||
|
855,849 |
First
Trust Energy AlphaDEX®
Fund |
$19,222,369 | |||
|
419,871 |
First
Trust Indxx Aerospace &
Defense
ETF |
18,772,432 | |||
|
125,478 |
First
Trust Nasdaq
Semiconductor
ETF |
18,504,241 | |||
|
502,175 |
First
Trust Nasdaq
Transportation
ETF |
19,137,889 | |||
|
100,068 |
First
Trust NYSE®
Arca®
Biotechnology
Index Fund (b) |
20,095,656 | |||
|
|
Total
Exchange-Traded Funds |
95,732,587 | |||
|
|
(Cost
$95,940,705) |
| |||
|
MONEY
MARKET FUNDS — 0.1% | |||||
|
100,770 |
Dreyfus
Government Cash
Management
Fund,
Institutional
Shares -
3.53%
(c) |
100,770 | |||
|
|
(Cost
$100,770) |
| |||
|
| |||||
|
| |||||
|
|
Total
Investments — 100.0% |
95,833,357 | |||
|
|
(Cost
$96,041,475) |
| |||
|
|
Net
Other Assets and
Liabilities
— (0.0)% |
(24,408
) | |||
|
|
Net
Assets — 100.0% |
$95,808,949 | |||
|
(a) |
Represents
investments in affiliated funds. |
|
(b) |
Non-income
producing security. |
|
(c) |
Rate
shown reflects yield as of March 31,
2026. |
|
|
Total
Value at
3/31/2026 |
Level 1
Quoted
Prices |
Level 2
Significant
Observable
Inputs |
Level 3
Significant
Unobservable
Inputs |
|
Exchange-Traded
Funds* |
$95,732,587 |
$95,732,587 |
$— |
$— |
|
Money
Market Funds |
100,770 |
100,770 |
— |
— |
|
Total
Investments |
$95,833,357 |
$95,833,357 |
$— |
$— |
|
* |
See
Portfolio of Investments for industry
breakout. |
|
Shares |
Description |
Value | |||
|
COMMON
STOCKS — 99.9% | |||||
|
|
Aerospace
& Defense — 1.8%
|
| |||
|
79,101 |
Curtiss-Wright
Corp. |
$53,877,273 | |||
|
53,371 |
Huntington
Ingalls Industries,
Inc. |
20,275,643 | |||
|
311,816 |
Woodward,
Inc. |
111,605,183 | |||
|
|
|
185,758,099 | |||
|
|
Automobile
Components — 0.6%
|
| |||
|
196,594 |
Lear
Corp. |
23,803,602 | |||
|
455,347 |
Visteon
Corp. |
41,486,665 | |||
|
|
|
65,290,267 | |||
|
|
Banks
— 16.2%
|
| |||
|
898,495 |
Associated
Banc-Corp. |
23,235,081 | |||
|
1,833,437 |
Bank
OZK |
84,136,424 | |||
|
209,631 |
BOK
Financial Corp. |
26,845,346 | |||
|
1,578,710 |
Commerce
Bancshares, Inc. |
77,672,532 | |||
|
668,167 |
Cullen/Frost
Bankers, Inc. |
91,592,332 | |||
|
840,135 |
East
West Bancorp, Inc. |
89,692,813 | |||
|
1,118,973 |
Enterprise
Financial Services
Corp. |
60,547,629 | |||
|
972,194 |
Fifth
Third Bancorp |
45,168,133 | |||
|
4,169,196 |
First
BanCorp |
89,054,026 | |||
|
23,909 |
First
Citizens BancShares, Inc.,
Class
A |
45,060,336 | |||
|
685,626 |
First
Interstate BancSystem, Inc.,
Class
A |
22,899,908 | |||
|
520,878 |
First
Merchants Corp. |
20,173,605 | |||
|
3,426,788 |
Fulton
Financial Corp. |
69,700,868 | |||
|
362,057 |
Hancock
Whitney Corp. |
23,023,205 | |||
|
3,053,319 |
Home
BancShares, Inc. |
82,225,881 | |||
|
4,305,159 |
Huntington
Bancshares, Inc. |
67,375,738 | |||
|
321,845 |
Independent
Bank Corp. |
24,205,962 | |||
|
940,296 |
International
Bancshares Corp. |
63,272,518 | |||
|
221,880 |
M&T
Bank Corp. |
45,867,034 | |||
|
161,385 |
Nicolet
Bankshares, Inc. |
23,985,039 | |||
|
2,095,197 |
OFG
Bancorp |
84,771,671 | |||
|
455,922 |
Pinnacle
Financial Partners, Inc. |
39,273,121 | |||
|
311,528 |
Prosperity
Bancshares, Inc. |
20,928,451 | |||
|
1,693,695 |
Regions
Financial Corp. |
44,239,313 | |||
|
511,273 |
ServisFirst
Bancshares, Inc. |
37,236,013 | |||
|
916,959 |
SouthState
Bank Corp. |
84,837,047 | |||
|
766,835 |
UMB
Financial Corp. |
86,491,320 | |||
|
647,708 |
Wintrust
Financial Corp. |
89,992,549 | |||
|
1,189,191 |
Zions
Bancorp N.A. |
68,521,185 | |||
|
|
|
1,632,025,080 | |||
|
|
Beverages
— 0.9%
|
| |||
|
488,452 |
Coca-Cola
Consolidated, Inc. |
93,655,786 | |||
|
|
Building
Products — 3.2%
|
| |||
|
1,239,772 |
A.O.
Smith Corp. |
81,750,566 | |||
|
609,183 |
Advanced
Drainage Systems,
Inc. |
83,537,265 | |||
|
Shares |
Description |
Value | |||
|
| |||||
|
|
Building
Products (Continued)
|
| |||
|
127,368 |
Allegion
PLC |
$18,505,297 | |||
|
67,292 |
Carlisle
Cos., Inc. |
22,449,957 | |||
|
64,738 |
CSW
Industrials, Inc. |
16,869,428 | |||
|
490,755 |
Simpson
Manufacturing Co., Inc. |
84,223,373 | |||
|
448,748 |
Zurn
Elkay Water Solutions
Corp. |
20,121,860 | |||
|
|
|
327,457,746 | |||
|
|
Capital
Markets — 4.2%
|
| |||
|
340,116 |
Cboe
Global Markets, Inc. |
95,596,404 | |||
|
407,271 |
Federated
Hermes, Inc. |
23,096,339 | |||
|
1,387,588 |
Interactive
Brokers Group, Inc.,
Class
A |
93,065,527 | |||
|
678,968 |
Northern
Trust Corp. |
94,763,564 | |||
|
1,033,649 |
SEI
Investments Co. |
81,110,437 | |||
|
459,838 |
T.
Rowe Price Group, Inc. |
41,449,797 | |||
|
|
|
429,082,068 | |||
|
|
Chemicals
— 1.5%
|
| |||
|
401,230 |
Balchem
Corp. |
68,000,460 | |||
|
1,766,626 |
Element
Solutions, Inc. |
60,312,612 | |||
|
192,511 |
PPG
Industries, Inc. |
20,575,576 | |||
|
|
|
148,888,648 | |||
|
|
Commercial
Services & Supplies
— 4.0%
|
| |||
|
1,091,226 |
Brady
Corp., Class A |
88,651,200 | |||
|
828,005 |
Brink’s
(The) Co. |
85,806,158 | |||
|
375,579 |
MSA
Safety, Inc. |
61,576,177 | |||
|
662,086 |
Tetra
Tech, Inc. |
19,942,030 | |||
|
350,634 |
UniFirst
Corp. |
88,216,008 | |||
|
658,670 |
Veralto
Corp. |
58,239,602 | |||
|
|
|
402,431,175 | |||
|
|
Construction
& Engineering —
4.8%
|
| |||
|
803,091 |
AECOM |
68,118,179 | |||
|
110,657 |
Comfort
Systems USA, Inc. |
152,594,896 | |||
|
144,371 |
EMCOR
Group, Inc. |
106,590,553 | |||
|
783,480 |
Primoris
Services Corp. |
112,068,979 | |||
|
314,832 |
Tutor
Perini Corp. |
24,301,882 | |||
|
51,828 |
Valmont
Industries, Inc. |
20,708,914 | |||
|
|
|
484,383,403 | |||
|
|
Construction
Materials — 0.5%
|
| |||
|
400,434 |
United
States Lime & Minerals,
Inc. |
52,300,685 | |||
|
|
Consumer
Finance — 1.2%
|
| |||
|
673,930 |
PROG
Holdings, Inc. |
19,335,052 | |||
|
1,877,699 |
SLM
Corp. |
40,201,535 | |||
|
903,330 |
Synchrony
Financial |
61,444,507 | |||
|
|
|
120,981,094 | |||
|
Shares |
Description |
Value | |||
|
COMMON
STOCKS (Continued) | |||||
|
|
Consumer
Staples Distribution &
Retail — 1.1%
|
| |||
|
712,280 |
PriceSmart,
Inc. |
$107,198,140 | |||
|
|
Containers
& Packaging — 0.2%
|
| |||
|
165,114 |
AptarGroup,
Inc. |
20,807,666 | |||
|
|
Diversified
Consumer Services —
2.6%
|
| |||
|
82,524 |
Graham
Holdings Co., Class B |
87,249,324 | |||
|
777,085 |
H&R
Block, Inc. |
24,664,678 | |||
|
2,006,410 |
OneSpaWorld
Holdings Ltd. |
46,047,109 | |||
|
2,719,080 |
Perdoceo
Education Corp. |
101,176,967 | |||
|
|
|
259,138,078 | |||
|
|
Electric
Utilities — 0.4%
|
| |||
|
513,935 |
Otter
Tail Corp. |
45,108,075 | |||
|
|
Electrical
Equipment — 3.4%
|
| |||
|
279,512 |
Acuity,
Inc. |
78,324,853 | |||
|
739,740 |
EnerSys |
128,507,633 | |||
|
49,622 |
Hubbell,
Inc. |
24,351,500 | |||
|
197,975 |
Powell
Industries, Inc. |
107,120,313 | |||
|
|
|
338,304,299 | |||
|
|
Electronic
Equipment,
Instruments
& Components —
1.6%
|
| |||
|
275,567 |
Badger
Meter, Inc. |
41,982,633 | |||
|
541,986 |
Benchmark
Electronics, Inc. |
30,383,735 | |||
|
533,081 |
ePlus,
Inc. |
40,114,345 | |||
|
568,372 |
Napco
Security Technologies,
Inc. |
22,388,173 | |||
|
151,338 |
TD
SYNNEX Corp. |
25,532,234 | |||
|
|
|
160,401,120 | |||
|
|
Energy
Equipment & Services —
3.0%
|
| |||
|
1,936,436 |
Cactus,
Inc., Class A |
91,728,973 | |||
|
4,670,233 |
NOV,
Inc. |
87,847,083 | |||
|
1,304,627 |
Weatherford
International PLC |
123,391,622 | |||
|
|
|
302,967,678 | |||
|
|
Financial
Services — 2.3%
|
| |||
|
1,133,530 |
Enact
Holdings, Inc. |
46,259,359 | |||
|
401,198 |
Jack
Henry & Associates, Inc. |
63,405,332 | |||
|
3,174,856 |
MGIC
Investment Corp. |
83,339,970 | |||
|
579,591 |
Radian
Group, Inc. |
19,172,870 | |||
|
354,798 |
Voya
Financial, Inc. |
24,239,800 | |||
|
|
|
236,417,331 | |||
|
|
Food
Products — 2.2%
|
| |||
|
922,647 |
Cal-Maine
Foods, Inc. |
73,027,510 | |||
|
710,293 |
Ingredion,
Inc. |
80,021,609 | |||
|
509,280 |
Marzetti
(The) Company |
70,448,703 | |||
|
|
|
223,497,822 | |||
|
Shares |
Description |
Value | |||
|
| |||||
|
|
Health
Care Equipment & Supplies
— 1.0%
|
| |||
|
944,957 |
LeMaitre
Vascular, Inc. |
$103,160,956 | |||
|
|
Health
Care Providers & Services
— 1.7%
|
| |||
|
188,276 |
Chemed
Corp. |
71,119,376 | |||
|
110,807 |
Ensign
Group (The), Inc. |
22,327,611 | |||
|
492,757 |
National
HealthCare Corp. |
78,693,293 | |||
|
|
|
172,140,280 | |||
|
|
Hotels,
Restaurants & Leisure —
0.4%
|
| |||
|
193,735 |
Expedia
Group, Inc. |
44,731,474 | |||
|
|
Household
Durables — 2.5%
|
| |||
|
358,970 |
Installed
Building Products, Inc. |
95,180,895 | |||
|
472,497 |
La-Z-Boy,
Inc. |
15,186,054 | |||
|
706,966 |
PulteGroup,
Inc. |
83,146,271 | |||
|
459,583 |
Toll
Brothers, Inc. |
62,719,292 | |||
|
|
|
256,232,512 | |||
|
|
Household
Products — 0.8%
|
| |||
|
390,281 |
WD-40
Co. |
79,593,907 | |||
|
|
Insurance
— 8.9%
|
| |||
|
394,984 |
Assurant,
Inc. |
86,031,465 | |||
|
1,008,861 |
Assured
Guaranty Ltd. |
82,201,994 | |||
|
190,679 |
Axis
Capital Holdings Ltd. |
19,336,757 | |||
|
413,237 |
Cincinnati
Financial Corp. |
65,022,842 | |||
|
952,016 |
CNA
Financial Corp. |
43,716,575 | |||
|
70,736 |
Everest
Group Ltd. |
23,120,062 | |||
|
663,968 |
First
American Financial Corp. |
40,030,631 | |||
|
483,859 |
Hanover
Insurance Group (The),
Inc. |
83,876,958 | |||
|
1,101,023 |
Lincoln
National Corp. |
39,086,317 | |||
|
1,558,897 |
Old
Republic International Corp. |
62,199,990 | |||
|
330,165 |
Primerica,
Inc. |
82,699,729 | |||
|
431,114 |
Reinsurance
Group of America,
Inc. |
88,016,234 | |||
|
831,263 |
Selective
Insurance Group, Inc. |
62,668,918 | |||
|
551,813 |
Unum
Group |
40,298,903 | |||
|
1,173,140 |
W.R.
Berkley Corp. |
77,755,719 | |||
|
|
|
896,063,094 | |||
|
|
Interactive
Media & Services —
0.4%
|
| |||
|
1,393,522 |
Match
Group, Inc. |
42,795,061 | |||
|
|
IT
Services — 0.7%
|
| |||
|
268,148 |
VeriSign,
Inc. |
66,597,237 | |||
|
|
Machinery
— 10.3%
|
| |||
|
446,812 |
Alamo
Group, Inc. |
73,710,576 | |||
|
869,711 |
Allison
Transmission Holdings,
Inc. |
101,808,370 | |||
|
1,825,931 |
Atmus
Filtration Technologies,
Inc. |
103,658,103 | |||
|
118,331 |
Crane
Co. |
20,234,601 | |||
|
Shares |
Description |
Value | |||
|
COMMON
STOCKS (Continued) | |||||
|
|
Machinery
(Continued)
|
| |||
|
540,396 |
Donaldson
Co., Inc. |
$45,863,408 | |||
|
220,754 |
Dover
Corp. |
46,016,171 | |||
|
160,922 |
Esab
Corp. |
15,554,721 | |||
|
300,008 |
Flowserve
Corp. |
22,053,588 | |||
|
451,864 |
Fortive
Corp. |
24,979,042 | |||
|
450,112 |
Franklin
Electric Co., Inc. |
41,486,823 | |||
|
999,357 |
Graco,
Inc. |
84,595,570 | |||
|
109,399 |
IDEX
Corp. |
20,736,580 | |||
|
491,971 |
ITT,
Inc. |
93,735,235 | |||
|
102,244 |
Lincoln
Electric Holdings, Inc. |
25,466,935 | |||
|
875,585 |
Mueller
Industries, Inc. |
97,014,818 | |||
|
1,675,860 |
Mueller
Water Products, Inc.,
Class
A |
46,069,391 | |||
|
252,739 |
Snap-on,
Inc. |
91,799,860 | |||
|
309,610 |
Watts
Water Technologies, Inc.,
Class
A |
89,876,687 | |||
|
|
|
1,044,660,479 | |||
|
|
Media
— 2.0%
|
| |||
|
1,470,492 |
Fox
Corp., Class A |
85,876,733 | |||
|
1,337,178 |
New
York Times (The) Co.,
Class
A |
111,961,914 | |||
|
|
|
197,838,647 | |||
|
|
Metals
& Mining — 0.8%
|
| |||
|
2,541,309 |
Hecla
Mining Co. |
47,344,587 | |||
|
111,131 |
Royal
Gold, Inc. |
28,281,728 | |||
|
|
|
75,626,315 | |||
|
|
Oil,
Gas & Consumable Fuels —
0.9%
|
| |||
|
285,622 |
Core
Natural Resources, Inc. |
29,913,192 | |||
|
119,548 |
Texas
Pacific Land Corp. |
56,732,699 | |||
|
|
|
86,645,891 | |||
|
|
Personal
Care Products — 0.7%
|
| |||
|
832,286 |
Interparfums,
Inc. |
75,604,860 | |||
|
|
Professional
Services — 3.3%
|
| |||
|
337,077 |
CSG
Systems International, Inc. |
26,945,935 | |||
|
858,299 |
Exponent,
Inc. |
56,004,010 | |||
|
2,019,980 |
Genpact
Ltd. |
75,244,255 | |||
|
304,603 |
Jacobs
Solutions, Inc. |
38,769,870 | |||
|
492,988 |
Paycom
Software, Inc. |
59,917,761 | |||
|
853,866 |
UL
Solutions, Inc., Class A |
73,184,855 | |||
|
|
|
330,066,686 | |||
|
|
Semiconductors
&
Semiconductor
Equipment —
0.6%
|
| |||
|
696,515 |
Universal
Display Corp. |
63,842,565 | |||
|
|
Software
— 3.4%
|
| |||
|
2,486,137 |
Clear
Secure, Inc., Class A |
120,353,892 | |||
|
Shares |
Description |
Value | |||
|
| |||||
|
|
Software
(Continued)
|
| |||
|
1,242,041 |
Dolby
Laboratories, Inc.,
Class
A |
$74,596,982 | |||
|
295,280 |
InterDigital,
Inc. |
89,174,560 | |||
|
1,332,383 |
Pegasystems,
Inc. |
56,706,221 | |||
|
|
|
340,831,655 | |||
|
|
Specialty
Retail — 2.3%
|
| |||
|
213,993 |
Dick’s
Sporting Goods, Inc. |
42,432,672 | |||
|
1,636,979 |
Gap
(The), Inc. |
39,614,892 | |||
|
471,574 |
Williams-Sonoma,
Inc. |
85,982,087 | |||
|
145,285 |
Winmark
Corp. |
62,116,602 | |||
|
|
|
230,146,253 | |||
|
|
Technology
Hardware, Storage &
Peripherals — 0.6%
|
| |||
|
583,221 |
NetApp,
Inc. |
59,715,998 | |||
|
|
Textiles,
Apparel & Luxury Goods
— 1.5%
|
| |||
|
288,521 |
Kontoor
Brands, Inc. |
20,280,141 | |||
|
268,043 |
Ralph
Lauren Corp. |
92,204,112 | |||
|
251,976 |
Tapestry,
Inc. |
35,556,333 | |||
|
|
|
148,040,586 | |||
|
|
Tobacco
— 0.5%
|
| |||
|
604,278 |
Turning
Point Brands, Inc. |
52,445,287 | |||
|
|
Trading
Companies & Distributors
— 0.9%
|
| |||
|
336,114 |
Applied
Industrial Technologies,
Inc. |
89,177,766 | |||
|
|
Total
Common Stocks |
10,092,051,769 | |||
|
|
(Cost
$8,940,125,227) |
| |||
|
MONEY
MARKET FUNDS — 0.1% | |||||
|
7,976,987 |
Dreyfus
Government Cash
Management
Fund,
Institutional
Shares -
3.53%
(a) |
7,976,987 | |||
|
|
(Cost
$7,976,987) |
| |||
|
| |||||
|
| |||||
|
|
Total
Investments — 100.0% |
10,100,028,756 | |||
|
|
(Cost
$8,948,102,214) |
| |||
|
|
Net
Other Assets and
Liabilities
— 0.0% |
1,430,710 | |||
|
|
Net
Assets — 100.0% |
$10,101,459,466 | |||
|
(a) |
Rate
shown reflects yield as of March 31,
2026. |
|
|
Total
Value at
3/31/2026 |
Level 1
Quoted
Prices |
Level 2
Significant
Observable
Inputs |
Level 3
Significant
Unobservable
Inputs |
|
Common
Stocks* |
$10,092,051,769 |
$10,092,051,769 |
$— |
$— |
|
Money
Market
Funds |
7,976,987 |
7,976,987 |
— |
— |
|
Total
Investments |
$10,100,028,756 |
$10,100,028,756 |
$— |
$— |
|
* |
See
Portfolio of Investments for industry
breakout. |
|
Shares |
Description |
Value | |||
|
COMMON
STOCKS (a) — 99.5% | |||||
|
|
Aerospace
& Defense — 2.2%
|
| |||
|
4,571 |
Airbus
SE (EUR) (b) |
$864,256 | |||
|
4,424 |
Boeing
(The) Co. (c) |
880,509 | |||
|
1,387 |
Lockheed
Martin Corp. |
838,289 | |||
|
|
|
2,583,054 | |||
|
|
Automobile
Components — 0.8%
|
| |||
|
72,000 |
Denso
Corp. (JPY) (b) |
902,742 | |||
|
|
Automobiles
— 3.0%
|
| |||
|
9,626 |
Bayerische
Motoren Werke AG
(EUR)
(b) |
890,474 | |||
|
75,254 |
Ford
Motor Co. |
868,431 | |||
|
14,232 |
Mercedes-Benz
Group AG
(EUR)
(b) |
874,744 | |||
|
2,294 |
Tesla,
Inc. (c) |
852,795 | |||
|
|
|
3,486,444 | |||
|
|
Banks
— 26.1%
|
| |||
|
34,533 |
ANZ
Group Holdings Ltd.
(AUD)
(b) |
868,341 | |||
|
67,700 |
Axis
Bank Ltd. (INR) (b) |
838,480 | |||
|
43,241 |
Banco
Bilbao Vizcaya
Argentaria
S.A. (EUR) (b) |
933,991 | |||
|
81,510 |
Banco
Santander S.A. (EUR) (b) |
913,790 | |||
|
19,224 |
Bank
of America Corp. |
937,170 | |||
|
1,559,146 |
Bank
of China Ltd., Class H
(HKD)
(b) |
995,571 | |||
|
1,037,926 |
Bank
of Communications Co.,
Ltd.,
Class H (HKD) (b) |
938,081 | |||
|
174,333 |
Barclays
PLC (GBP) (b) |
912,363 | |||
|
9,165 |
BNP
Paribas S.A. (EUR) (b) |
873,095 | |||
|
171,702 |
BOC
Hong Kong Holdings Ltd.
(HKD)
(b) |
947,281 | |||
|
1,793,610 |
China
CITIC Bank Corp., Ltd.,
Class
H (HKD) (b) |
1,816,777 | |||
|
142,978 |
China
Merchants Bank Co., Ltd.,
Class
H (HKD) (b) |
908,514 | |||
|
8,588 |
Citigroup,
Inc. |
973,965 | |||
|
20,910 |
DBS
Group Holdings Ltd.
(SGD)
(b) |
930,498 | |||
|
193,067 |
First
Abu Dhabi Bank PJSC
(AED)
(b) |
916,069 | |||
|
31,914 |
HDFC
Bank Ltd., ADR |
794,020 | |||
|
56,762 |
HSBC
Holdings PLC (GBP) (b) |
932,173 | |||
|
60,059 |
ICICI
Bank Ltd., ADR |
1,555,528 | |||
|
1,998,332 |
Industrial
& Commercial Bank
of
China Ltd., Class H
(HKD)
(b) |
1,761,426 | |||
|
34,530 |
ING
Groep N.V., ADR |
899,507 | |||
|
3,203 |
JPMorgan
Chase & Co. |
942,195 | |||
|
222,557 |
Kotak
Mahindra Bank Ltd.
(INR)
(b) |
837,781 | |||
|
Shares |
Description |
Value | |||
|
| |||||
|
|
Banks
(Continued)
|
| |||
|
176,274 |
Lloyds
Banking Group PLC,
ADR
(d) |
$886,658 | |||
|
97,860 |
Mitsubishi
UFJ Financial Group,
Inc.,
ADR (d) |
1,660,684 | |||
|
88,785 |
Nordea
Bank Abp (EUR) (b) |
1,528,811 | |||
|
1,420,852 |
Postal
Savings Bank of China
Co.,
Ltd., Class H
(HKD)
(b) (e) (f) |
892,593 | |||
|
5,556 |
Royal
Bank of Canada (CAD) |
898,162 | |||
|
447,328 |
Sberbank
of Russia PJSC
(RUB)
(b) (c) (g) (h) |
0 | |||
|
12,041 |
Wells
Fargo & Co. |
958,584 | |||
|
31,534 |
Westpac
Banking Corp.
(AUD)
(b) |
871,451 | |||
|
|
|
30,123,559 | |||
|
|
Broadline
Retail — 4.2%
|
| |||
|
12,003 |
Alibaba
Group Holding Ltd.,
ADR |
1,505,896 | |||
|
7,688 |
Amazon.com,
Inc. (c) |
1,601,180 | |||
|
57,651 |
JD.com,
Inc., ADR |
1,704,740 | |||
|
|
|
4,811,816 | |||
|
|
Capital
Markets — 7.9%
|
| |||
|
7,737 |
Bank
of New York Mellon (The)
Corp. |
917,840 | |||
|
2,911 |
CME
Group, Inc. |
859,764 | |||
|
3,262 |
Deutsche
Boerse AG (EUR) (b) |
955,592 | |||
|
1,150 |
Goldman
Sachs Group (The),
Inc. |
972,889 | |||
|
7,905 |
London
Stock Exchange
Group
PLC (GBP) (b) |
933,478 | |||
|
10,434 |
Morgan
Stanley |
1,717,123 | |||
|
881 |
Partners
Group Holding AG
(CHF)
(b) |
949,578 | |||
|
2,159 |
S&P
Global, Inc. |
918,309 | |||
|
24,086 |
UBS
Group AG (CHF) (b) |
939,195 | |||
|
|
|
9,163,768 | |||
|
|
Communications
Equipment —
1.6%
|
| |||
|
11,656 |
Cisco
Systems, Inc. |
904,389 | |||
|
111,308 |
Nokia
Oyj, ADR |
894,916 | |||
|
|
|
1,799,305 | |||
|
|
Consumer
Finance — 0.8%
|
| |||
|
3,001 |
American
Express Co. |
907,743 | |||
|
|
Consumer
Staples Distribution &
Retail — 1.5%
|
| |||
|
12,087 |
Kroger
(The) Co. |
874,615 | |||
|
7,229 |
Walmart,
Inc. |
898,420 | |||
|
|
|
1,773,035 | |||
|
|
Diversified
Telecommunication Services
— 6.3%
|
| |||
|
58,809 |
AT&T,
Inc. |
1,704,873 | |||
|
Shares |
Description |
Value | |||
|
COMMON
STOCKS (a) (Continued) | |||||
|
|
Diversified
Telecommunication
Services
(Continued)
|
| |||
|
42,620 |
Deutsche
Telekom AG
(EUR)
(b) |
$1,590,725 | |||
|
316,016 |
Emirates
Telecommunications
Group
Co. PJSC (AED) (b) |
1,632,029 | |||
|
1,779 |
Swisscom
AG (CHF) (b) |
1,492,872 | |||
|
17,896 |
Verizon
Communications, Inc. |
898,379 | |||
|
|
|
7,318,878 | |||
|
|
Electric
Utilities — 0.8%
|
| |||
|
40,242 |
Iberdrola
S.A. (EUR) (b) |
921,312 | |||
|
|
Electrical
Equipment — 0.8%
|
| |||
|
11,620 |
Contemporary
Amperex
Technology
Co., Ltd., Class H
(HKD)
(b) (d) |
926,209 | |||
|
|
Financial
Services — 3.6%
|
| |||
|
3,239 |
Mastercard,
Inc., Class A |
1,618,399 | |||
|
36,311 |
PayPal
Holdings, Inc. |
1,642,347 | |||
|
2,956 |
Visa,
Inc., Class A |
893,421 | |||
|
|
|
4,154,167 | |||
|
|
Household
Durables — 0.7%
|
| |||
|
42,220 |
Sony
Group Corp., ADR |
873,954 | |||
|
|
Industrial
Conglomerates — 2.1%
|
| |||
|
6,900 |
Honeywell
International, Inc. |
1,559,607 | |||
|
3,500 |
Siemens
AG (EUR) (b) |
852,723 | |||
|
|
|
2,412,330 | |||
|
|
Insurance
— 4.8%
|
| |||
|
84,014 |
AIA
Group Ltd. (HKD) (b) |
933,507 | |||
|
2,244 |
Allianz
SE (EUR) (b) |
947,687 | |||
|
11,847 |
American
International Group,
Inc. |
891,487 | |||
|
20,618 |
AXA
S.A. (EUR) (b) |
947,434 | |||
|
13,172 |
MetLife,
Inc. |
931,524 | |||
|
112,965 |
Ping
An Insurance Group Co. of
China
Ltd., Class H
(HKD)
(b) |
868,612 | |||
|
|
|
5,520,251 | |||
|
|
Interactive
Media & Services —
2.0%
|
| |||
|
13,079 |
Baidu,
Inc., ADR (c) (d) |
1,457,262 | |||
|
12,967 |
Tencent
Holdings Ltd.
(HKD)
(b) |
817,860 | |||
|
|
|
2,275,122 | |||
|
|
IT
Services — 6.9%
|
| |||
|
8,217 |
Accenture
PLC, Class A |
1,629,349 | |||
|
26,329 |
Cognizant
Technology Solutions
Corp.,
Class A |
1,615,284 | |||
|
119,849 |
Infosys
Ltd., ADR (d) |
1,619,160 | |||
|
Shares |
Description |
Value | |||
|
| |||||
|
|
IT
Services (Continued)
|
| |||
|
6,503 |
International
Business Machines
Corp. |
$1,576,262 | |||
|
60,785 |
Tata
Consultancy Services Ltd.
(INR)
(b) |
1,530,607 | |||
|
|
|
7,970,662 | |||
|
|
Marine
Transportation — 0.8%
|
| |||
|
362 |
A.P.
Moller - Maersk A/S,
Class
B (DKK) (b) |
904,233 | |||
|
|
Metals
& Mining — 1.6%
|
| |||
|
25,076 |
BHP
Group Ltd. (AUD) (b) |
907,313 | |||
|
9,989 |
Rio
Tinto PLC, ADR |
931,874 | |||
|
|
|
1,839,187 | |||
|
|
Multi-Utilities
— 1.4%
|
| |||
|
51,094 |
Engie
S.A. (EUR) (b) |
1,646,638 | |||
|
|
Oil,
Gas & Consumable Fuels —
0.8%
|
| |||
|
42,503 |
Gazprom
PJSC,
ADR
(b) (c) (g) (h) |
0 | |||
|
364,010 |
Gazprom
PJSC
(RUB)
(b) (c) (g) (h) |
0 | |||
|
10,255 |
Shell
PLC, ADR |
953,715 | |||
|
|
|
953,715 | |||
|
|
Pharmaceuticals
— 1.4%
|
| |||
|
13,950 |
Zoetis,
Inc. |
1,649,030 | |||
|
|
Semiconductors
&
Semiconductor
Equipment —
8.0%
|
| |||
|
8,145 |
Advanced
Micro Devices,
Inc.
(c) |
1,656,937 | |||
|
34,713 |
Infineon
Technologies AG
(EUR)
(b) |
1,574,802 | |||
|
35,597 |
Intel
Corp. (c) |
1,570,896 | |||
|
3,974 |
Micron
Technology, Inc. |
1,342,576 | |||
|
8,795 |
NVIDIA
Corp. |
1,533,848 | |||
|
4,783 |
Taiwan
Semiconductor
Manufacturing
Co., Ltd., ADR |
1,616,415 | |||
|
|
|
9,295,474 | |||
|
|
Software
— 5.9%
|
| |||
|
4,009 |
Microsoft
Corp. |
1,484,011 | |||
|
10,120 |
Oracle
Corp. |
1,488,753 | |||
|
8,083 |
Salesforce,
Inc. |
1,508,854 | |||
|
8,370 |
SAP
SE (EUR) (b) |
1,426,947 | |||
|
6,754 |
Workday,
Inc., Class A (c) |
877,480 | |||
|
|
|
6,786,045 | |||
|
|
Specialty
Retail — 0.8%
|
| |||
|
2,673 |
Home
Depot (The), Inc. |
879,123 | |||
|
Shares |
Description |
Value | |||
|
COMMON
STOCKS (a) (Continued) | |||||
|
|
Technology
Hardware, Storage &
Peripherals — 1.3%
|
| |||
|
12,694 |
Samsung
Electronics Co., Ltd.
(KRW)
(b) |
$1,484,708 | |||
|
|
Wireless
Telecommunication Services
— 1.4%
|
| |||
|
1,199,400 |
SoftBank
Corp. (JPY) (b) |
1,604,945 | |||
|
|
Total
Common Stocks |
114,967,449 | |||
|
|
(Cost
$99,228,095) |
| |||
|
Principal
Value |
Description |
Value | |||
|
REPURCHASE
AGREEMENTS — 5.1% | |||||
|
$5,969,361 |
Toronto-Dominion
Bank (The),
3.66%
(i), dated 03/31/26, due
04/01/26,
with a maturity
value
of $5,969,968.
Collateralized
by
U.S.
Treasury Securities,
interest
rates of 1.25% to
1.38%,
due 05/31/28 to
12/31/28.
The value of the
collateral
including accrued
interest
is $6,088,750. (j) |
5,969,361 | |||
|
|
(Cost
$5,969,361) |
| |||
|
| |||||
|
| |||||
|
|
Total
Investments — 104.6% |
120,936,810 | |||
|
|
(Cost
$105,197,456) |
| |||
|
|
Net
Other Assets and
Liabilities
— (4.6)% |
(5,373,149
) | |||
|
|
Net
Assets — 100.0% |
$115,563,661 | |||
|
(a) |
Securities
are issued in U.S. dollars unless otherwise
indicated
in the security description. |
|
(b) |
This
security is fair valued by the Advisor’s Pricing
Committee
in accordance with procedures approved by the
Trust’s
Board of Trustees, and in accordance with provisions
of
the Investment Company Act of 1940 and rules
thereunder,
as amended. At March 31, 2026, securities noted
as
such are valued at $49,938,308 or 43.2% 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. |
|
(c) |
Non-income
producing security. |
|
(d) |
All
or a portion of this security is on loan (see Note 2F
-
Securities
Lending in the Notes to Financial Statements). The
remaining
contractual maturity of all of the securities lending
transactions
is overnight and continuous. The aggregate
value
of such securities is $5,992,607 and the total value of
the
collateral held by the Fund, including for securities sold
and
pending settlement, is $5,969,361. |
|
(e) |
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. |
|
(f) |
This
security may be resold to qualified foreign investors and
foreign
institutional buyers under Regulation S of the 1933
Act. |
|
(g) |
Pursuant
to procedures adopted by the Trust’s Board of
Trustees,
this security has been determined to be illiquid by
First
Trust Advisors L.P., the Fund’s advisor. |
|
(h) |
This
security’s value was determined using significant
unobservable
inputs (see Note
2A
- Portfolio Valuation in the
Notes
to Financial Statements). |
|
(i) |
Rate
shown reflects yield as of March 31, 2026. |
|
(j) |
This
security serves as collateral for securities on
loan. |
|
Abbreviations
throughout the Portfolio of Investments: | |
|
ADR |
–
American Depositary Receipt |
|
AED |
–
United Arab Emirates Dirham |
|
AUD |
–
Australian Dollar |
|
CAD |
–
Canadian Dollar |
|
CHF |
–
Swiss Franc |
|
DKK |
–
Danish Krone |
|
EUR |
–
Euro |
|
GBP |
–
British Pound Sterling |
|
HKD |
–
Hong Kong Dollar |
|
INR |
–
Indian Rupee |
|
JPY |
–
Japanese Yen |
|
KRW |
–
South Korean Won |
|
RUB |
–
Russian Ruble |
|
SGD |
–
Singapore Dollar |
|
USD |
–
United States Dollar |
|
Currency
Exposure Diversification |
% of Total
Investments |
|
USD |
58.0% |
|
EUR |
14.7 |
|
HKD |
9.8 |
|
CHF |
2.8 |
|
INR |
2.6 |
|
GBP |
2.3 |
|
AUD |
2.2 |
|
AED |
2.1 |
|
JPY |
2.1 |
|
KRW |
1.2 |
|
SGD |
0.8 |
|
DKK |
0.7 |
|
CAD |
0.7 |
|
RUB |
0.0‡
|
|
Total |
100.0% |
|
‡
|
Investments
are valued at $0. |
|
Country
Allocation†
|
% of Net
Assets |
|
United
States |
39.1% |
|
Germany |
7.9 |
|
China |
7.9 |
|
India |
6.2 |
|
Canada |
5.9 |
|
United
Kingdom |
4.8 |
|
Cayman
Islands |
4.7 |
|
Japan |
4.4 |
|
France |
3.0 |
|
Switzerland |
2.9 |
|
Spain |
2.4 |
|
Australia |
2.3 |
|
United
Arab Emirates |
2.2 |
|
Finland |
2.1 |
|
Hong
Kong |
1.6 |
|
Netherlands |
1.5 |
|
Ireland |
1.4 |
|
Taiwan |
1.4 |
|
South
Korea |
1.3 |
|
Singapore |
0.8 |
|
Denmark |
0.8 |
|
Russia |
0.0††
|
|
Total
Investments |
104.6 |
|
Net
Other Assets and Liabilities |
(4.6) |
|
Total |
100.0% |
|
†
|
Portfolio
securities are categorized based upon their country
of
incorporation, which can be different from the country
categorization
of the Fund’s underlying index. |
|
††
|
Investments
are valued at $0. |
|
|
Total
Value at
3/31/2026 |
Level 1
Quoted
Prices |
Level 2
Significant
Observable
Inputs |
Level 3
Significant
Unobservable
Inputs |
|
Common
Stocks: |
|
|
|
|
|
Aerospace
&
Defense |
$2,583,054 |
$1,718,798 |
$864,256 |
$— |
|
Automobile
Components |
902,742 |
— |
902,742 |
— |
|
Automobiles |
3,486,444 |
1,721,226 |
1,765,218 |
— |
|
Banks |
30,123,559 |
10,506,473 |
19,617,086 |
—
** |
|
Capital
Markets |
9,163,768 |
5,385,925 |
3,777,843 |
— |
|
Diversified
Telecommunication
Services |
7,318,878 |
2,603,252 |
4,715,626 |
— |
|
Electric
Utilities |
921,312 |
— |
921,312 |
— |
|
Electrical
Equipment |
926,209 |
— |
926,209 |
— |
|
Industrial
Conglomerates |
2,412,330 |
1,559,607 |
852,723 |
— |
|
Insurance |
5,520,251 |
1,823,011 |
3,697,240 |
— |
|
Interactive
Media &
Services |
2,275,122 |
1,457,262 |
817,860 |
— |
|
IT
Services |
7,970,662 |
6,440,055 |
1,530,607 |
— |
|
Marine
Transportation |
904,233 |
— |
904,233 |
— |
|
Metals
& Mining |
1,839,187 |
931,874 |
907,313 |
— |
|
Multi-Utilities |
1,646,638 |
— |
1,646,638 |
— |
|
Oil,
Gas &
Consumable
Fuels |
953,715 |
953,715 |
— |
—
** |
|
Semiconductors
&
Semiconductor
Equipment |
9,295,474 |
7,720,672 |
1,574,802 |
— |
|
Software |
6,786,045 |
5,359,098 |
1,426,947 |
— |
|
Technology
Hardware,
Storage
&
Peripherals |
1,484,708 |
— |
1,484,708 |
— |
|
Wireless
Telecommunication
Services |
1,604,945 |
— |
1,604,945 |
— |
|
Other
Industry
Categories* |
16,848,173 |
16,848,173 |
— |
— |
|
Repurchase
Agreements |
5,969,361 |
— |
5,969,361 |
— |
|
Total
Investments |
$120,936,810 |
$65,029,141 |
$55,907,669 |
$—
** |
|
* |
See
Portfolio of Investments for industry breakout. |
|
** |
Investments
are valued at $0. |
|
Securities
Lending Agency Agreement | |
|
Total
gross amount presented on the Statements
of
Assets and Liabilities(1)
|
$5,992,607 |
|
Non-cash
Collateral(2)
|
(5,969,361
) |
|
Net
Amount |
$23,246 |
|
Repurchase
Agreements | |
|
Total
gross amount presented on the Statements
of
Assets and Liabilities(3)
|
$5,969,361 |
|
Non-cash
Collateral(4)
|
(5,969,361
) |
|
Net
Amount |
$— |
|
(1)
|
The
amount presented on the Statements of Assets and
Liabilities,
which is included in “Investments, at value,” is not
offset
and is shown on a gross basis. |
|
(2)
|
The
collateral requirements are determined at the beginning
of
each business day based on the market value of the loaned
securities
from the end of the prior day. On March 31, 2026,
the
last business day of the period, there was sufficient
collateral
based on the end of day market value from the prior
business
day; however, as a result of market movement from
March
30 to March 31, the value of the related securities
loaned
was above the collateral value received. See Note 2F
-
Securities
Lending in the Notes to Financial Statements. |
|
(3)
|
The
amount is included in “Investments, at value” on the
Statements
of Assets and Liabilities. |
|
(4)
|
At
March 31, 2026, the value of the collateral received from
each
seller exceeded the value of the repurchase
agreements. |
|
Shares |
Description |
Value | |||
|
COMMON
STOCKS (a) — 99.6% | |||||
|
|
Aerospace
& Defense — 3.3%
|
| |||
|
37,974 |
AeroVironment,
Inc. (b) |
$6,951,141 | |||
|
30,713 |
Kratos
Defense & Security
Solutions,
Inc. (b) |
2,165,573 | |||
|
3,654 |
Northrop
Grumman Corp. |
2,492,905 | |||
|
1,410,853 |
QinetiQ
Group PLC (GBP) (c) |
8,545,840 | |||
|
|
|
20,155,459 | |||
|
|
Air
Freight & Logistics — 0.4%
|
| |||
|
42,126 |
GXO
Logistics, Inc. (b) |
2,184,233 | |||
|
|
Automobile
Components — 4.3%
|
| |||
|
35,991 |
Aptiv
PLC (b) |
2,499,215 | |||
|
183,900 |
Denso
Corp. (JPY) (c) |
2,305,754 | |||
|
409,357 |
Gentex
Corp. |
8,944,450 | |||
|
41,980 |
Magna
International, Inc. |
2,342,904 | |||
|
1,132,264 |
Mobileye
Global, Inc.,
Class
A (b) |
7,778,654 | |||
|
182,403 |
Valeo
SE (EUR) (c) |
2,233,691 | |||
|
|
|
26,104,668 | |||
|
|
Automobiles
— 0.7%
|
| |||
|
5,649 |
Hyundai
Motor Co. (KRW) (c) |
1,740,233 | |||
|
6,576 |
Tesla,
Inc. (b) |
2,444,628 | |||
|
|
|
4,184,861 | |||
|
|
Biotechnology
— 1.3%
|
| |||
|
2,610,067 |
Recursion
Pharmaceuticals, Inc.,
Class
A (b) (d) |
8,012,906 | |||
|
|
Broadline
Retail — 1.7%
|
| |||
|
18,366 |
Alibaba
Group Holding Ltd.,
ADR |
2,304,199 | |||
|
23,478 |
Amazon.com,
Inc. (b) |
4,889,763 | |||
|
99,767 |
JD.com,
Inc., ADR |
2,950,110 | |||
|
|
|
10,144,072 | |||
|
|
Communications
Equipment —
1.9%
|
| |||
|
19,826 |
Arista
Networks, Inc. (b) |
2,434,236 | |||
|
120,551 |
Cisco
Systems, Inc. |
9,353,552 | |||
|
|
|
11,787,788 | |||
|
|
Consumer
Finance — 1.5%
|
| |||
|
351,780 |
Upstart
Holdings, Inc. (b) (d) |
9,023,157 | |||
|
|
Consumer
Staples Distribution &
Retail — 1.3%
|
| |||
|
3,391,152 |
Ocado
Group PLC (GBP) (b) (c) |
8,145,287 | |||
|
|
Electrical
Equipment — 3.5%
|
| |||
|
52,794 |
ABB
Ltd. (CHF) (c) |
4,292,573 | |||
|
17,558 |
Emerson
Electric Co. |
2,300,449 | |||
|
69,100 |
Mitsubishi
Electric Corp.
(JPY)
(c) |
2,260,060 | |||
|
313,000 |
NIDEC
CORP. (JPY) (b) (c) |
3,974,542 | |||
|
Shares |
Description |
Value | |||
|
| |||||
|
|
Electrical
Equipment
(Continued)
|
| |||
|
12,100 |
Rockwell
Automation, Inc. |
$4,342,448 | |||
|
15,092 |
Schneider
Electric SE (EUR) (c) |
4,110,803 | |||
|
|
|
21,280,875 | |||
|
|
Electronic
Equipment,
Instruments
& Components —
5.6%
|
| |||
|
90,631 |
Cognex
Corp. |
4,440,013 | |||
|
107,609 |
Delta
Electronics, Inc.
(TWD)
(c) |
4,852,130 | |||
|
839,913 |
Hexagon
AB, Class B (SEK) (c) |
8,174,132 | |||
|
11,700 |
Keyence
Corp. (JPY) (c) |
4,164,116 | |||
|
138,800 |
Omron
Corp. (JPY) (c) |
3,993,150 | |||
|
123,400 |
Yokogawa
Electric Corp.
(JPY)
(c) |
3,813,524 | |||
|
22,014 |
Zebra
Technologies Corp.,
Class
A (b) |
4,602,687 | |||
|
|
|
34,039,752 | |||
|
|
Energy
Equipment & Services —
1.6%
|
| |||
|
269,829 |
Oceaneering
International,
Inc.
(b) |
9,570,835 | |||
|
|
Health
Care Equipment & Supplies
— 2.5%
|
| |||
|
19,024 |
Intuitive
Surgical, Inc. (b) |
8,769,874 | |||
|
27,102 |
Medtronic
PLC |
2,348,388 | |||
|
64,399 |
Omnicell,
Inc. (b) |
2,149,639 | |||
|
6,831 |
Stryker
Corp. |
2,244,598 | |||
|
|
|
15,512,499 | |||
|
|
Hotels,
Restaurants & Leisure —
1.3%
|
| |||
|
958,853 |
Serve
Robotics, Inc. (b) (d) |
8,092,719 | |||
|
|
Household
Durables — 0.4%
|
| |||
|
113,600 |
Sony
Group Corp. (JPY) (c) |
2,367,735 | |||
|
|
Industrial
Conglomerates — 1.3%
|
| |||
|
32,793 |
Siemens
AG (EUR) (c) |
7,989,531 | |||
|
|
Interactive
Media & Services —
3.6%
|
| |||
|
15,814 |
Alphabet,
Inc., Class A |
4,547,474 | |||
|
21,270 |
Baidu,
Inc., ADR (b) (d) |
2,369,903 | |||
|
61,114 |
Kakao
Corp. (KRW) (c) |
1,886,728 | |||
|
14,778 |
Meta
Platforms, Inc., Class A |
8,454,937 | |||
|
14,961 |
NAVER
Corp. (KRW) (c) |
2,036,917 | |||
|
39,937 |
Tencent
Holdings Ltd.
(HKD)
(c) |
2,518,922 | |||
|
|
|
21,814,881 | |||
|
|
IT
Services — 5.7%
|
| |||
|
26,902 |
Akamai
Technologies, Inc. (b) |
3,089,695 | |||
|
2,418,927 |
BigBear.ai
Holdings, Inc. (b) (d) |
8,514,623 | |||
|
Shares |
Description |
Value | |||
|
COMMON
STOCKS (a) (Continued) | |||||
|
|
IT
Services (Continued)
|
| |||
|
55,630 |
Cloudflare,
Inc., Class A (b) |
$11,478,694 | |||
|
39,878 |
International
Business Machines
Corp. |
9,666,028 | |||
|
8,058 |
MongoDB,
Inc. (b) |
1,972,357 | |||
|
|
|
34,721,397 | |||
|
|
Life
Sciences Tools & Services —
3.5%
|
| |||
|
71,240 |
Illumina,
Inc. (b) |
8,781,042 | |||
|
27,839 |
Tecan
Group AG (CHF) (c) |
4,738,520 | |||
|
179,886 |
Tempus
AI, Inc., Class A (b) (d) |
8,134,445 | |||
|
|
|
21,654,007 | |||
|
|
Machinery
— 11.0%
|
| |||
|
154,403 |
ATS
Corp. (CAD) (b) |
4,352,054 | |||
|
8,360,400 |
AutoStore
Holdings Ltd.
(NOK)
(b) (c) (e) (f) |
8,273,601 | |||
|
119,100 |
Daifuku
Co., Ltd. (JPY) (c) |
4,205,312 | |||
|
4,204 |
Deere
& Co. |
2,368,113 | |||
|
210,500 |
FANUC
Corp. (JPY) (c) |
7,337,386 | |||
|
32,015 |
JBT
Marel Corp. |
4,093,758 | |||
|
113,500 |
Kawasaki
Heavy Industries Ltd.
(JPY)
(c) |
2,134,611 | |||
|
79,419 |
Proto
Labs, Inc. (b) |
4,528,471 | |||
|
16,022 |
Rainbow
Robotics
(KRW)
(b) (c) |
5,756,708 | |||
|
174,862 |
Symbotic,
Inc. (b) |
9,302,658 | |||
|
616,700 |
UBTech
Robotics Corp., Ltd.,
Class
H (HKD) (b) (c) |
6,863,556 | |||
|
146,673 |
Valmet
Oyj (EUR) (c) (d) |
4,196,858 | |||
|
139,700 |
Yaskawa
Electric Corp.
(JPY)
(c) |
3,689,716 | |||
|
|
|
67,102,802 | |||
|
|
Pharmaceuticals
— 0.4%
|
| |||
|
10,654 |
Johnson
& Johnson |
2,604,264 | |||
|
|
Professional
Services — 0.7%
|
| |||
|
111,622 |
Innodata,
Inc. (b) (d) |
4,310,842 | |||
|
|
Semiconductors
&
Semiconductor
Equipment —
10.0%
|
| |||
|
24,626 |
Advanced
Micro Devices,
Inc.
(b) |
5,009,667 | |||
|
81,709 |
Ambarella,
Inc. (b) |
4,205,971 | |||
|
15,429 |
Broadcom,
Inc. |
4,775,430 | |||
|
58,031 |
Intel
Corp. (b) |
2,560,908 | |||
|
3,234 |
KLA
Corp. |
4,761,774 | |||
|
60,354 |
Marvell
Technology, Inc. |
5,978,064 | |||
|
11,956 |
Micron
Technology, Inc. |
4,039,215 | |||
|
27,825 |
NVIDIA
Corp. |
4,852,680 | |||
|
21,718 |
NXP
Semiconductors N.V. |
4,275,405 | |||
|
34,633 |
QUALCOMM,
Inc. |
4,460,038 | |||
|
Shares |
Description |
Value | |||
|
| |||||
|
|
Semiconductors
&
Semiconductor
Equipment
(Continued)
|
| |||
|
259,500 |
Renesas
Electronics Corp.
(JPY)
(c) |
$3,710,131 | |||
|
6,684 |
SK
hynix, Inc. (KRW) (c) |
3,792,268 | |||
|
13,162 |
Taiwan
Semiconductor
Manufacturing
Co., Ltd., ADR |
4,448,098 | |||
|
15,406 |
Teradyne,
Inc. |
4,567,263 | |||
|
|
|
61,436,912 | |||
|
|
Software
— 30.6%
|
| |||
|
10,087 |
Adobe,
Inc. (b) |
2,451,948 | |||
|
359,165 |
Appian
Corp., Class A (b) |
8,659,468 | |||
|
10,765 |
Autodesk,
Inc. (b) |
2,577,141 | |||
|
75,087 |
BlackLine,
Inc. (b) |
2,778,219 | |||
|
1,204,899 |
C3.ai,
Inc., Class A (b) |
10,145,250 | |||
|
31,782 |
Cadence
Design Systems,
Inc.
(b) |
8,831,264 | |||
|
1,643,044 |
CCC
Intelligent Solutions
Holdings,
Inc. (b) |
9,858,264 | |||
|
437,355 |
Dassault
Systemes SE (EUR) (c) |
8,853,966 | |||
|
23,641 |
Datadog,
Inc., Class A (b) |
2,790,820 | |||
|
266,674 |
Dynatrace,
Inc. (b) |
9,861,605 | |||
|
50,832 |
Elastic
N.V. (b) |
2,541,092 | |||
|
9,126,600 |
Horizon
Robotics (HKD) (b) (c) |
7,904,303 | |||
|
12,554 |
Microsoft
Corp. |
4,647,114 | |||
|
82,400 |
Nice
Ltd., ADR (b) |
9,085,424 | |||
|
69,823 |
Palantir
Technologies, Inc.,
Class
A (b) |
10,213,708 | |||
|
64,323 |
Palo
Alto Networks, Inc. (b) |
10,312,263 | |||
|
219,048 |
Pegasystems,
Inc. |
9,322,683 | |||
|
16,903 |
PTC,
Inc. (b) |
2,408,508 | |||
|
49,176 |
Salesforce,
Inc. |
9,179,684 | |||
|
730,103 |
SentinelOne,
Inc., Class A (b) |
9,403,727 | |||
|
88,686 |
ServiceNow,
Inc. (b) |
9,272,121 | |||
|
1,113,831 |
SoundHound
AI, Inc.,
Class
A (b) (d) |
7,652,019 | |||
|
23,138 |
Synopsys,
Inc. (b) |
9,173,754 | |||
|
892,726 |
UiPath,
Inc., Class A (b) |
9,909,259 | |||
|
71,613 |
Workday,
Inc., Class A (b) |
9,303,961 | |||
|
|
|
187,137,565 | |||
|
|
Technology
Hardware, Storage &
Peripherals — 1.1%
|
| |||
|
10,019 |
Apple,
Inc. |
2,542,722 | |||
|
17,587 |
Samsung
Electronics Co., Ltd.
(KRW)
(c) |
2,057,000 | |||
|
195,400 |
Seiko
Epson Corp. (JPY) (c) (d) |
2,415,771 | |||
|
|
|
7,015,493 | |||
|
Shares |
Description |
Value | |||
|
COMMON
STOCKS (a) (Continued) | |||||
|
|
Wireless
Telecommunication Services
— 0.4%
|
| |||
|
101,200 |
SoftBank
Group Corp. (JPY) (c) |
$2,464,195 | |||
|
|
Total
Common Stocks |
608,858,735 | |||
|
|
(Cost
$634,658,878) |
| |||
|
MONEY
MARKET FUNDS — 0.3% | |||||
|
1,923,688 |
Dreyfus
Government Cash
Management
Fund,
Institutional
Shares -
3.53%
(g) |
1,923,688 | |||
|
|
(Cost
$1,923,688) |
| |||
|
Principal
Value |
Description |
Value | |||
|
REPURCHASE
AGREEMENTS — 6.6% | |||||
|
$40,498,333 |
Bank
of America Corp.,
3.66%
(g), dated 03/31/26,
due
04/01/26, with a maturity
value
of $40,502,450.
Collateralized
by
U.S.
Treasury Securities,
interest
rates of 2.75% to
4.75%,
due 05/15/28 to
11/15/43.
The value of the
collateral
including accrued
interest
is $41,308,305. (h) |
40,498,333 | |||
|
|
(Cost
$40,498,333) |
| |||
|
| |||||
|
| |||||
|
|
Total
Investments — 106.5% |
651,280,756 | |||
|
|
(Cost
$677,080,899) |
| |||
|
|
Net
Other Assets and
Liabilities
— (6.5)% |
(39,982,546
) | |||
|
|
Net
Assets — 100.0% |
$611,298,210 | |||
|
(a) |
Securities
are issued in U.S. dollars unless otherwise
indicated
in the security description. |
|
(b) |
Non-income
producing security. |
|
(c) |
This
security is fair valued by the Advisor’s Pricing
Committee
in accordance with procedures approved by the
Trust’s
Board of Trustees, and in accordance with provisions
of
the Investment Company Act of 1940 and rules
thereunder,
as amended. At March 31, 2026, securities noted
as
such are valued at $157,799,570 or 25.8% 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) |
All
or a portion of this security is on loan (see Note 2F
-
Securities
Lending in the Notes to Financial Statements). The
remaining
contractual maturity of all of the securities lending
transactions
is overnight and continuous. The aggregate
value
of such securities is $42,446,476 and the total value of
the
collateral held by the Fund, including for securities sold
and
pending settlement, is $40,498,333. |
|
(e) |
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. |
|
(f) |
This
security may be resold to qualified foreign investors and
foreign
institutional buyers under Regulation S of the 1933
Act. |
|
(g) |
Rate
shown reflects yield as of March 31, 2026. |
|
(h) |
This
security serves as collateral for securities on
loan. |
|
Abbreviations
throughout the Portfolio of Investments: | |
|
ADR |
–
American Depositary Receipt |
|
CAD |
–
Canadian Dollar |
|
CHF |
–
Swiss Franc |
|
EUR |
–
Euro |
|
GBP |
–
British Pound Sterling |
|
HKD |
–
Hong Kong Dollar |
|
JPY |
–
Japanese Yen |
|
KRW |
–
South Korean Won |
|
NOK |
–
Norwegian Krone |
|
SEK |
–
Swedish Krona |
|
TWD |
–
New Taiwan Dollar |
|
USD |
–
United States Dollar |
|
Currency
Exposure Diversification |
% of Total
Investments |
|
USD |
75.1% |
|
JPY |
7.5 |
|
EUR |
4.2 |
|
HKD |
2.6 |
|
KRW |
2.6 |
|
GBP |
2.6 |
|
CHF |
1.4 |
|
NOK |
1.3 |
|
SEK |
1.3 |
|
TWD |
0.7 |
|
CAD |
0.7 |
|
Total |
100.0% |
|
Country
Allocation†
|
% of Net
Assets |
|
United
States |
73.6% |
|
Japan |
8.0 |
|
Cayman
Islands |
3.6 |
|
South
Korea |
2.8 |
|
United
Kingdom |
2.7 |
|
France |
2.5 |
|
Taiwan |
1.5 |
|
Israel |
1.5 |
|
Switzerland |
1.5 |
|
Bermuda |
1.4 |
|
Sweden |
1.3 |
|
Germany |
1.3 |
|
China |
1.1 |
|
Netherlands |
1.1 |
|
Canada |
1.1 |
|
Finland |
0.7 |
|
Jersey |
0.4 |
|
Ireland |
0.4 |
|
Total
Investments |
106.5 |
|
Net
Other Assets and Liabilities |
(6.5) |
|
Total |
100.0% |
|
†
|
Portfolio
securities are categorized based upon their country of
incorporation,
which can be different from the country
categorization
of the Fund’s underlying
index. |
|
|
Total
Value at
3/31/2026 |
Level 1
Quoted
Prices |
Level 2
Significant
Observable
Inputs |
Level 3
Significant
Unobservable
Inputs |
|
Common
Stocks: |
|
|
|
|
|
Aerospace
&
Defense |
$20,155,459 |
$11,609,619 |
$8,545,840 |
$— |
|
Automobile
Components |
26,104,668 |
21,565,223 |
4,539,445 |
— |
|
Automobiles |
4,184,861 |
2,444,628 |
1,740,233 |
— |
|
Consumer
Staples
Distribution
&
Retail |
8,145,287 |
— |
8,145,287 |
— |
|
Electrical
Equipment |
21,280,875 |
6,642,897 |
14,637,978 |
— |
|
Electronic
Equipment,
Instruments
&
Components |
34,039,752 |
9,042,700 |
24,997,052 |
— |
|
Household
Durables |
2,367,735 |
— |
2,367,735 |
— |
|
Industrial
Conglomerates |
7,989,531 |
— |
7,989,531 |
— |
|
Interactive
Media
&
Services |
21,814,881 |
15,372,314 |
6,442,567 |
— |
|
Life
Sciences
Tools
&
Services |
21,654,007 |
16,915,487 |
4,738,520 |
— |
|
Machinery |
67,102,802 |
24,645,054 |
42,457,748 |
— |
|
Semiconductors
&
Semiconductor
Equipment |
61,436,912 |
53,934,513 |
7,502,399 |
— |
|
Software |
187,137,565 |
170,379,296 |
16,758,269 |
— |
|
Technology
Hardware,
Storage
&
Peripherals |
7,015,493 |
2,542,722 |
4,472,771 |
— |
|
Wireless
Telecommunication
Services |
2,464,195 |
— |
2,464,195 |
— |
|
Other
Industry
Categories* |
115,964,712 |
115,964,712 |
— |
— |
|
Money
Market
Funds |
1,923,688 |
1,923,688 |
— |
— |
|
Repurchase
Agreements |
40,498,333 |
— |
40,498,333 |
— |
|
Total
Investments |
$651,280,756 |
$452,982,853 |
$198,297,903 |
$— |
|
* |
See
Portfolio of Investments for industry
breakout. |
|
Securities
Lending Agency Agreement | |
|
Total
gross amount presented on the Statements
of
Assets and Liabilities(1)
|
$42,446,476 |
|
Non-cash
Collateral(2)
|
(40,498,333
) |
|
Net
Amount |
$1,948,143 |
|
Repurchase
Agreements | |
|
Total
gross amount presented on the Statements
of
Assets and Liabilities(3)
|
$40,498,333 |
|
Non-cash
Collateral(4)
|
(40,498,333
) |
|
Net
Amount |
$— |
|
(1)
|
The
amount presented on the Statements of Assets and
Liabilities,
which is included in “Investments, at value,” is not
offset
and is shown on a gross basis. |
|
(2)
|
The
collateral requirements are determined at the beginning
of
each business day based on the market value of the loaned
securities
from the end of the prior day. On March 31, 2026,
the
last business day of the period, there was sufficient
collateral
based on the end of day market value from the prior
business
day; however, as a result of market movement from
March
30 to March 31, the value of the related securities
loaned
was above the collateral value received. See Note 2F
-
Securities
Lending in the Notes to Financial Statements. |
|
(3)
|
The
amount is included in “Investments, at value” on the
Statements
of Assets and Liabilities. |
|
(4)
|
At
March 31, 2026, the value of the collateral received from
each
seller exceeded the value of the repurchase
agreements. |
|
Shares |
Description |
Value | |||
|
COMMON
STOCKS — 99.9% | |||||
|
|
Aerospace
& Defense — 8.3%
|
| |||
|
3,529 |
General
Electric Co. |
$1,001,424 | |||
|
3,440 |
HEICO
Corp. |
943,248 | |||
|
2,737 |
Northrop
Grumman Corp. |
1,867,291 | |||
|
9,806 |
RTX
Corp. |
1,891,578 | |||
|
|
|
5,703,541 | |||
|
|
Banks
— 8.8%
|
| |||
|
7,773 |
Citigroup,
Inc. |
881,536 | |||
|
308 |
First
Citizens BancShares, Inc.,
Class
A |
580,475 | |||
|
5,981 |
JPMorgan
Chase & Co. |
1,759,371 | |||
|
13,398 |
Popular,
Inc. |
1,797,610 | |||
|
13,803 |
Wells
Fargo & Co. |
1,098,857 | |||
|
|
|
6,117,849 | |||
|
|
Beverages
— 1.5%
|
| |||
|
5,512 |
Coca-Cola
Consolidated, Inc. |
1,056,871 | |||
|
|
Building
Products — 6.6%
|
| |||
|
12,148 |
Allegion
PLC |
1,764,983 | |||
|
10,152 |
Armstrong
World Industries, Inc. |
1,673,050 | |||
|
8,618 |
Johnson
Controls
International
PLC |
1,128,527 | |||
|
|
|
4,566,560 | |||
|
|
Capital
Markets — 13.8%
|
| |||
|
17,095 |
Bank
of New York Mellon (The)
Corp. |
2,027,980 | |||
|
1,444 |
Blackrock,
Inc. |
1,388,709 | |||
|
19,261 |
Charles
Schwab (The) Corp. |
1,810,149 | |||
|
917 |
Goldman
Sachs Group (The),
Inc. |
775,773 | |||
|
6,937 |
Houlihan
Lokey, Inc. |
996,292 | |||
|
5,755 |
Morgan
Stanley |
947,100 | |||
|
11,215 |
Raymond
James Financial, Inc. |
1,623,820 | |||
|
|
|
9,569,823 | |||
|
|
Construction
& Engineering —
1.5%
|
| |||
|
25,401 |
API
Group Corp. (a) |
1,029,248 | |||
|
|
Construction
Materials — 2.7%
|
| |||
|
6,919 |
Vulcan
Materials Co. |
1,884,044 | |||
|
|
Consumer
Finance — 1.2%
|
| |||
|
2,641 |
American
Express Co. |
798,850 | |||
|
|
Consumer
Staples Distribution &
Retail — 5.8%
|
| |||
|
2,541 |
Casey’s
General Stores, Inc. |
1,849,492 | |||
|
17,408 |
Walmart,
Inc. |
2,163,466 | |||
|
|
|
4,012,958 | |||
|
|
Electric
Utilities — 4.0%
|
| |||
|
24,305 |
Entergy
Corp. |
2,730,910 | |||
|
Shares |
Description |
Value | |||
|
| |||||
|
|
Electrical
Equipment — 0.9%
|
| |||
|
2,196 |
Acuity,
Inc. |
$615,363 | |||
|
|
Health
Care Providers & Services
— 14.6%
|
| |||
|
9,019 |
Cardinal
Health, Inc. |
1,905,805 | |||
|
6,401 |
Cencora,
Inc. |
2,010,810 | |||
|
10,741 |
Ensign
Group (The), Inc. |
2,164,311 | |||
|
3,741 |
HCA
Healthcare, Inc. |
1,770,391 | |||
|
2,588 |
McKesson
Corp. |
2,239,552 | |||
|
|
|
10,090,869 | |||
|
|
Health
Care REITs — 3.5%
|
| |||
|
12,065 |
Welltower,
Inc. |
2,385,371 | |||
|
|
Hotels,
Restaurants & Leisure —
3.7%
|
| |||
|
6,508 |
Hilton
Worldwide Holdings, Inc. |
1,978,953 | |||
|
7,409 |
Planet
Fitness, Inc., Class A (a) |
551,081 | |||
|
|
|
2,530,034 | |||
|
|
Interactive
Media & Services —
1.0%
|
| |||
|
2,423 |
Alphabet,
Inc., Class A |
696,758 | |||
|
|
IT
Services — 1.4%
|
| |||
|
4,096 |
International
Business Machines
Corp. |
992,829 | |||
|
|
Machinery
— 10.5%
|
| |||
|
1,192 |
Caterpillar,
Inc. |
844,484 | |||
|
3,698 |
Crane
Co. |
632,358 | |||
|
1,691 |
Cummins,
Inc. |
909,792 | |||
|
4,843 |
ITT,
Inc. |
922,737 | |||
|
12,404 |
Mueller
Industries, Inc. |
1,374,363 | |||
|
912 |
Parker-Hannifin
Corp. |
816,459 | |||
|
3,249 |
RBC
Bearings, Inc. (a) |
1,764,597 | |||
|
|
|
7,264,790 | |||
|
|
Metals
& Mining — 1.0%
|
| |||
|
2,833 |
Royal
Gold, Inc. |
720,970 | |||
|
|
Professional
Services — 2.1%
|
| |||
|
9,506 |
Leidos
Holdings, Inc. |
1,478,373 | |||
|
|
Real
Estate Management & Development
— 2.5%
|
| |||
|
8,267 |
CBRE
Group, Inc., Class A (a) |
1,119,848 | |||
|
2,021 |
Jones
Lang LaSalle, Inc. (a) |
615,030 | |||
|
|
|
1,734,878 | |||
|
|
Software
— 1.3%
|
| |||
|
13,701 |
Trimble,
Inc. (a) |
893,716 | |||
|
|
Specialty
Retail — 3.2%
|
| |||
|
10,322 |
Ross
Stores, Inc. |
2,236,055 | |||
|
|
Total
Common Stocks |
69,110,660 | |||
|
|
(Cost
$68,941,017) |
| |||
|
Shares |
Description |
Value | |||
|
MONEY
MARKET FUNDS — 0.1% | |||||
|
66,547 |
Dreyfus
Government Cash
Management
Fund,
Institutional
Shares -
3.53%
(b) |
$66,547 | |||
|
|
(Cost
$66,547) |
| |||
|
| |||||
|
| |||||
|
|
Total
Investments — 100.0% |
69,177,207 | |||
|
|
(Cost
$69,007,564) |
| |||
|
|
Net
Other Assets and
Liabilities
— 0.0% |
7,007 | |||
|
|
Net
Assets — 100.0% |
$69,184,214 | |||
|
(a) |
Non-income
producing security. |
|
(b) |
Rate
shown reflects yield as of March 31,
2026. |
|
Abbreviations
throughout the Portfolio of Investments: | |
|
REITs |
–
Real Estate Investment Trusts |
|
|
Total
Value at
3/31/2026 |
Level 1
Quoted
Prices |
Level 2
Significant
Observable
Inputs |
Level 3
Significant
Unobservable
Inputs |
|
Common
Stocks* |
$69,110,660 |
$69,110,660 |
$— |
$— |
|
Money
Market Funds |
66,547 |
66,547 |
— |
— |
|
Total
Investments |
$69,177,207 |
$69,177,207 |
$— |
$— |
|
* |
See
Portfolio of Investments for industry
breakout. |
|
Shares |
Description |
Value | |||
|
COMMON
STOCKS — 99.9% | |||||
|
|
Aerospace
& Defense — 1.2%
|
| |||
|
727 |
Northrop
Grumman Corp. |
$495,988 | |||
|
|
Automobile
Components — 2.9%
|
| |||
|
17,061 |
Aptiv
PLC (a) |
1,184,716 | |||
|
|
Automobiles
— 3.4%
|
| |||
|
18,915 |
General
Motors Co. |
1,409,167 | |||
|
|
Banks
— 12.9%
|
| |||
|
10,481 |
Citigroup,
Inc. |
1,188,650 | |||
|
588 |
First
Citizens BancShares, Inc.,
Class
A |
1,108,180 | |||
|
2,216 |
JPMorgan
Chase & Co. |
651,859 | |||
|
10,325 |
Popular,
Inc. |
1,385,305 | |||
|
11,863 |
Wells
Fargo & Co. |
944,414 | |||
|
|
|
5,278,408 | |||
|
|
Biotechnology
— 4.7%
|
| |||
|
19,751 |
Exelixis,
Inc. (a) |
847,120 | |||
|
5,830 |
Incyte
Corp. (a) |
548,720 | |||
|
935 |
United
Therapeutics Corp. (a) |
554,436 | |||
|
|
|
1,950,276 | |||
|
|
Building
Products — 0.9%
|
| |||
|
2,674 |
Allegion
PLC |
388,505 | |||
|
|
Capital
Markets — 12.6%
|
| |||
|
7,394 |
Bank
of New York Mellon (The)
Corp. |
877,150 | |||
|
10,148 |
Carlyle
Group (The), Inc. |
491,062 | |||
|
536 |
Goldman
Sachs Group (The),
Inc. |
453,451 | |||
|
46,426 |
Invesco
Ltd. |
1,127,687 | |||
|
3,000 |
Morgan
Stanley |
493,710 | |||
|
6,496 |
Raymond
James Financial, Inc. |
940,556 | |||
|
10,927 |
Stifel
Financial Corp. |
807,724 | |||
|
|
|
5,191,340 | |||
|
|
Construction
& Engineering —
1.0%
|
| |||
|
9,990 |
API
Group Corp. (a) |
404,795 | |||
|
|
Construction
Materials — 1.0%
|
| |||
|
3,864 |
CRH
PLC |
406,184 | |||
|
|
Consumer
Finance — 4.6%
|
| |||
|
4,855 |
Capital
One Financial Corp. |
885,697 | |||
|
15,033 |
Synchrony
Financial |
1,022,545 | |||
|
|
|
1,908,242 | |||
|
|
Consumer
Staples Distribution &
Retail — 3.3%
|
| |||
|
695 |
Casey’s
General Stores, Inc. |
505,863 | |||
|
6,984 |
Dollar
General Corp. |
829,210 | |||
|
|
|
1,335,073 | |||
|
Shares |
Description |
Value | |||
|
| |||||
|
|
Electric
Utilities — 3.6%
|
| |||
|
6,442 |
Entergy
Corp. |
$723,823 | |||
|
5,197 |
NRG
Energy, Inc. |
759,490 | |||
|
|
|
1,483,313 | |||
|
|
Electrical
Equipment — 1.3%
|
| |||
|
1,837 |
Acuity,
Inc. |
514,764 | |||
|
|
Electronic
Equipment,
Instruments
& Components —
6.1%
|
| |||
|
3,188 |
Jabil,
Inc. |
846,828 | |||
|
9,797 |
TD
SYNNEX Corp. |
1,652,852 | |||
|
|
|
2,499,680 | |||
|
|
Health
Care Providers & Services
— 14.9%
|
| |||
|
5,697 |
Cardinal
Health, Inc. |
1,203,833 | |||
|
2,308 |
Cencora,
Inc. |
725,035 | |||
|
2,544 |
Ensign
Group (The), Inc. |
512,616 | |||
|
2,626 |
HCA
Healthcare, Inc. |
1,242,729 | |||
|
1,409 |
McKesson
Corp. |
1,219,292 | |||
|
6,403 |
Tenet
Healthcare Corp. (a) |
1,208,310 | |||
|
|
|
6,111,815 | |||
|
|
Hotels,
Restaurants & Leisure —
1.9%
|
| |||
|
1,824 |
Expedia
Group, Inc. |
421,143 | |||
|
6,617 |
Las
Vegas Sands Corp. |
356,524 | |||
|
|
|
777,667 | |||
|
|
Life
Sciences Tools & Services —
0.9%
|
| |||
|
2,237 |
Charles
River Laboratories
International,
Inc. (a) |
385,882 | |||
|
|
Machinery
— 1.0%
|
| |||
|
734 |
Cummins,
Inc. |
394,907 | |||
|
|
Metals
& Mining — 5.9%
|
| |||
|
14,672 |
Alcoa
Corp. |
973,194 | |||
|
5,888 |
Newmont
Corp. |
637,376 | |||
|
4,454 |
Steel
Dynamics, Inc. |
801,720 | |||
|
|
|
2,412,290 | |||
|
|
Passenger
Airlines — 5.7%
|
| |||
|
18,941 |
Delta
Air Lines, Inc. |
1,259,198 | |||
|
11,757 |
United
Airlines Holdings,
Inc.
(a) |
1,082,467 | |||
|
|
|
2,341,665 | |||
|
|
Professional
Services — 2.0%
|
| |||
|
5,329 |
Leidos
Holdings, Inc. |
828,766 | |||
|
|
Real
Estate Management & Development
— 3.7%
|
| |||
|
3,168 |
CBRE
Group, Inc., Class A (a) |
429,137 | |||
|
3,559 |
Jones
Lang LaSalle, Inc. (a) |
1,083,075 | |||
|
|
|
1,512,212 | |||
|
Shares |
Description |
Value | |||
|
COMMON
STOCKS (Continued) | |||||
|
|
Trading
Companies & Distributors
— 4.4%
|
| |||
|
2,573 |
Ferguson
Enterprises, Inc. |
$600,178 | |||
|
4,443 |
WESCO
International, Inc. |
1,215,694 | |||
|
|
|
1,815,872 | |||
|
|
Total
Common Stocks |
41,031,527 | |||
|
|
(Cost
$41,171,410) |
| |||
|
MONEY
MARKET FUNDS — 0.1% | |||||
|
39,666 |
Dreyfus
Government Cash
Management
Fund,
Institutional
Shares -
3.53%
(b) |
39,666 | |||
|
|
(Cost
$39,666) |
| |||
|
| |||||
|
| |||||
|
|
Total
Investments — 100.0% |
41,071,193 | |||
|
|
(Cost
$41,211,076) |
| |||
|
|
Net
Other Assets and
Liabilities
— (0.0)% |
(5,445
) | |||
|
|
Net
Assets — 100.0% |
$41,065,748 | |||
|
(a) |
Non-income
producing security. |
|
(b) |
Rate
shown reflects yield as of March 31,
2026. |
|
|
Total
Value at
3/31/2026 |
Level 1
Quoted
Prices |
Level 2
Significant
Observable
Inputs |
Level 3
Significant
Unobservable
Inputs |
|
Common
Stocks* |
$41,031,527 |
$41,031,527 |
$— |
$— |
|
Money
Market Funds |
39,666 |
39,666 |
— |
— |
|
Total
Investments |
$41,071,193 |
$41,071,193 |
$— |
$— |
|
* |
See
Portfolio of Investments for industry
breakout. |
|
Shares |
Description |
Value | |||
|
COMMON
STOCKS (a) — 99.4% | |||||
|
|
Aerospace
& Defense — 1.9%
|
| |||
|
12,196 |
Safran
S.A. (EUR) (b) |
$3,990,908 | |||
|
|
Banks
— 4.5%
|
| |||
|
29,064 |
Royal
Bank of Canada (CAD) |
4,698,377 | |||
|
53,456 |
Toronto-Dominion
Bank (The)
(CAD) |
4,992,454 | |||
|
|
|
9,690,831 | |||
|
|
Beverages
— 2.3%
|
| |||
|
88,714 |
Coca-Cola
HBC AG (GBP) (b) |
4,997,158 | |||
|
|
Broadline
Retail — 3.8%
|
| |||
|
23,863 |
Next
PLC (GBP) (b) |
4,031,602 | |||
|
678,700 |
Pan
Pacific International
Holdings
Corp. (JPY) (b) |
4,140,242 | |||
|
|
|
8,171,844 | |||
|
|
Capital
Markets — 7.9%
|
| |||
|
73,846 |
3i
Group PLC (GBP) (b) |
2,406,700 | |||
|
16,289 |
Deutsche
Boerse AG (EUR) (b) |
4,771,811 | |||
|
28,944 |
Euronext
N.V. (EUR) (b) (c) (d) |
4,647,905 | |||
|
326,900 |
Singapore
Exchange Ltd.
(SGD)
(b) |
4,986,904 | |||
|
|
|
16,813,320 | |||
|
|
Chemicals
— 1.5%
|
| |||
|
19,133 |
Sika
AG (CHF) (b) |
3,166,861 | |||
|
|
Construction
& Engineering —
2.0%
|
| |||
|
67,154 |
Ferrovial
SE (EUR) (b) |
4,368,821 | |||
|
|
Consumer
Staples Distribution &
Retail — 2.1%
|
| |||
|
100,318 |
Loblaw
Cos., Ltd. (CAD) |
4,573,480 | |||
|
|
Diversified
Telecommunication Services
— 2.3%
|
| |||
|
1,300,400 |
Singapore
Telecommunications
Ltd.
(SGD) (b) |
5,007,091 | |||
|
|
Entertainment
— 1.4%
|
| |||
|
153,430 |
Universal
Music Group N.V.
(EUR)
(b) |
2,978,217 | |||
|
|
Financial
Services — 2.0%
|
| |||
|
181,638 |
Poste
Italiane S.p.A.
(EUR)
(b) (c) (d) |
4,275,552 | |||
|
|
Food
Products — 1.8%
|
| |||
|
39,471 |
Nestle
S.A. (CHF) (b) |
3,871,752 | |||
|
|
Health
Care Equipment & Supplies
— 1.6%
|
| |||
|
15,402 |
Sonova
Holding AG (CHF) (b) |
3,511,863 | |||
|
|
Hotels,
Restaurants & Leisure —
4.6%
|
| |||
|
53,931 |
Amadeus
IT Group S.A.
(EUR)
(b) |
3,083,831 | |||
|
Shares |
Description |
Value | |||
|
| |||||
|
|
Hotels,
Restaurants & Leisure
(Continued)
|
| |||
|
100,651 |
Aristocrat
Leisure Ltd.
(AUD)
(b) |
$3,199,219 | |||
|
124,347 |
Compass
Group PLC (GBP) (b) |
3,469,375 | |||
|
|
|
9,752,425 | |||
|
|
Household
Products — 1.7%
|
| |||
|
53,300 |
Reckitt
Benckiser Group PLC
(GBP)
(b) |
3,583,888 | |||
|
|
Insurance
— 16.2%
|
| |||
|
10,411 |
Allianz
SE (EUR) (b) |
4,396,780 | |||
|
102,749 |
Great-West
Lifeco, Inc. (CAD) |
4,812,089 | |||
|
14,472 |
Hannover
Rueck SE (EUR) (b) |
4,550,033 | |||
|
6,678 |
Muenchener
Rueckversicherungs-
Gesellschaft
AG in Muenchen
(EUR)
(b) |
4,217,453 | |||
|
318,205 |
Prudential
PLC (GBP) (b) |
4,424,013 | |||
|
376,164 |
Sampo
Oyj, Class A (EUR) (b) |
4,021,328 | |||
|
23,068 |
Swiss
Re AG (CHF) (b) |
3,874,899 | |||
|
6,031 |
Zurich
Insurance Group AG
(CHF)
(b) |
4,262,823 | |||
|
|
|
34,559,418 | |||
|
|
IT
Services — 3.2%
|
| |||
|
48,651 |
CGI,
Inc. (CAD) |
3,556,759 | |||
|
130,800 |
Obic
Co., Ltd. (JPY) |
3,174,705 | |||
|
|
|
6,731,464 | |||
|
|
Machinery
— 5.9%
|
| |||
|
89,136 |
Alfa
Laval AB (SEK) (b) |
4,875,737 | |||
|
64,683 |
Kone
Oyj, Class B (EUR) (b) |
4,129,430 | |||
|
11,228 |
Schindler
Holding AG (CHF) (b) |
3,698,423 | |||
|
|
|
12,703,590 | |||
|
|
Metals
& Mining — 5.2%
|
| |||
|
149,407 |
BHP
Group Ltd. (AUD) (b) |
5,405,923 | |||
|
62,469 |
Rio
Tinto PLC (GBP) (b) |
5,795,445 | |||
|
|
|
11,201,368 | |||
|
|
Oil,
Gas & Consumable Fuels —
3.1%
|
| |||
|
49,827 |
Imperial
Oil Ltd. (CAD) |
6,526,474 | |||
|
|
Personal
Care Products — 3.4%
|
| |||
|
9,269 |
L’Oreal
S.A. (EUR) (b) |
3,784,463 | |||
|
63,389 |
Unilever
PLC (GBP) (b) |
3,479,995 | |||
|
|
|
7,264,458 | |||
|
|
Pharmaceuticals
— 9.3%
|
| |||
|
25,121 |
AstraZeneca
PLC (GBP) (b) |
4,912,130 | |||
|
194,134 |
GSK
PLC (GBP) (b) |
5,347,480 | |||
|
32,127 |
Novartis
AG (CHF) (b) |
4,931,316 | |||
|
11,802 |
Roche
Holding AG (CHF) (b) |
4,710,070 | |||
|
|
|
19,900,996 | |||
|
Shares |
Description |
Value | |||
|
COMMON
STOCKS (a) (Continued) | |||||
|
|
Professional
Services — 3.7%
|
| |||
|
132,539 |
Bureau
Veritas S.A. (EUR) (b) |
$3,967,098 | |||
|
38,258 |
SGS
S.A. (CHF) (b) |
4,031,972 | |||
|
|
|
7,999,070 | |||
|
|
Software
— 1.5%
|
| |||
|
279,175 |
Sage
Group (The) PLC
(GBP)
(b) |
3,128,246 | |||
|
|
Specialty
Retail — 2.1%
|
| |||
|
75,862 |
Industria
de Diseno Textil S.A.
(EUR)
(b) |
4,415,857 | |||
|
|
Trading
Companies & Distributors
— 2.3%
|
| |||
|
380,400 |
ITOCHU
Corp. (JPY) (b) |
4,838,875 | |||
|
|
Transportation
Infrastructure —
2.1%
|
| |||
|
152,397 |
Aena
SME S.A.
(EUR)
(b) (c) (d) |
4,508,749 | |||
|
|
Total
Common Stocks |
212,532,576 | |||
|
|
(Cost
$194,587,380) |
| |||
|
WARRANTS
(a) — 0.0% | |||||
|
|
Software
— 0.0% |
| |||
|
753 |
Constellation
Software, Inc.,
expiring
3/31/2040
(CAD)
(b) (e) (f) (g) |
0 | |||
|
|
(Cost
$0) |
| |||
|
MONEY
MARKET FUNDS — 0.1% | |||||
|
250,613 |
Dreyfus
Government Cash
Management
Fund,
Institutional
Shares -
3.53%
(h) |
250,613 | |||
|
|
(Cost
$250,613) |
| |||
|
| |||||
|
| |||||
|
|
Total
Investments — 99.5% |
212,783,189 | |||
|
|
(Cost
$194,837,993) |
| |||
|
|
Net
Other Assets and
Liabilities
— 0.5% |
1,102,231 | |||
|
|
Net
Assets — 100.0% |
$213,885,420 | |||
|
(a) |
Securities
are issued in U.S. dollars unless otherwise
indicated
in the security description. |
|
(b) |
This
security is fair valued by the Advisor’s Pricing
Committee
in accordance with procedures approved by the
Trust’s
Board of Trustees, and in accordance with provisions
of
the Investment Company Act of 1940 and rules
thereunder,
as amended. At March 31, 2026, securities noted
as
such are valued at $180,198,238 or 84.2% 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. |
|
(c) |
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. |
|
(d) |
This
security may be resold to qualified foreign investors and
foreign
institutional buyers under Regulation S of the 1933
Act. |
|
(e) |
Pursuant
to procedures adopted by the Trust’s Board of
Trustees,
this security has been determined to be illiquid by
First
Trust Advisors L.P., the Fund’s advisor. |
|
(f) |
Non-income
producing security. |
|
(g) |
This
security’s value was determined using significant
unobservable
inputs (see Note
2A
- Portfolio Valuation in the
Notes
to Financial Statements). |
|
(h) |
Rate
shown reflects yield as of March 31,
2026. |
|
Abbreviations
throughout the Portfolio of Investments: | |
|
AUD |
–
Australian Dollar |
|
CAD |
–
Canadian Dollar |
|
CHF |
–
Swiss Franc |
|
EUR |
–
Euro |
|
GBP |
–
British Pound Sterling |
|
JPY |
–
Japanese Yen |
|
SEK |
–
Swedish Krona |
|
SGD |
–
Singapore Dollar |
|
USD |
–
United States Dollar |
|
Currency
Exposure Diversification |
% of Total
Investments |
|
EUR |
31.1% |
|
GBP |
21.4 |
|
CHF |
17.0 |
|
CAD |
13.7 |
|
JPY |
5.7 |
|
SGD |
4.7 |
|
AUD |
4.0 |
|
SEK |
2.3 |
|
USD |
0.1 |
|
Total |
100.0% |
|
Country
Allocation†
|
% of Net
Assets |
|
Switzerland |
19.2% |
|
United
Kingdom |
19.0 |
|
Canada |
13.6 |
|
Germany |
8.4 |
|
Japan |
5.7 |
|
Spain |
5.6 |
|
Netherlands |
5.6 |
|
France |
5.5 |
|
Singapore |
4.7 |
|
Australia |
4.0 |
|
Finland |
3.8 |
|
Sweden |
2.3 |
|
Italy |
2.0 |
|
United
States |
0.1 |
|
Total
Investments |
99.5 |
|
Net
Other Assets and Liabilities |
0.5 |
|
Total |
100.0% |
|
†
|
Portfolio
securities are categorized based upon their country of
incorporation,
which can be different from the country
categorization
of the Fund’s underlying
index. |
|
|
Total
Value at
3/31/2026 |
Level 1
Quoted
Prices |
Level 2
Significant
Observable
Inputs |
Level 3
Significant
Unobservable
Inputs |
|
Common
Stocks: |
|
|
|
|
|
Banks |
$9,690,831 |
$9,690,831 |
$— |
$— |
|
Consumer
Staples
Distribution
&
Retail |
4,573,480 |
4,573,480 |
— |
— |
|
Insurance |
34,559,418 |
4,812,089 |
29,747,329 |
— |
|
IT
Services |
6,731,464 |
6,731,464 |
— |
— |
|
Oil,
Gas &
Consumable
Fuels |
6,526,474 |
6,526,474 |
— |
— |
|
Other
Industry
Categories* |
150,450,909 |
— |
150,450,909 |
— |
|
Warrants* |
—
** |
— |
— |
—
** |
|
Money
Market Funds |
250,613 |
250,613 |
— |
— |
|
Total
Investments |
$212,783,189 |
$32,584,951 |
$180,198,238 |
$—
** |
|
* |
See
Portfolio of Investments for industry breakout. |
|
** |
Investment
is valued at $0. |
|
Shares |
Description |
Value | |||
|
COMMON
STOCKS — 99.8% | |||||
|
|
Aerospace
& Defense — 2.6%
|
| |||
|
102 |
Lockheed
Martin Corp. |
$61,648 | |||
|
|
Beverages
— 4.3%
|
| |||
|
680 |
Coca-Cola
(The) Co. |
51,714 | |||
|
319 |
PepsiCo,
Inc. |
49,537 | |||
|
|
|
101,251 | |||
|
|
Broadline
Retail — 1.8%
|
| |||
|
206 |
Amazon.com,
Inc. (a) |
42,904 | |||
|
|
Commercial
Services & Supplies
— 1.7%
|
| |||
|
1,218 |
Copart,
Inc. (a) |
40,438 | |||
|
|
Communications
Equipment —
2.0%
|
| |||
|
595 |
Cisco
Systems, Inc. |
46,166 | |||
|
|
Consumer
Staples Distribution &
Retail — 2.2%
|
| |||
|
422 |
Walmart,
Inc. |
52,446 | |||
|
|
Electronic
Equipment,
Instruments
& Components —
2.4%
|
| |||
|
208 |
Jabil,
Inc. |
55,251 | |||
|
|
Financial
Services — 3.8%
|
| |||
|
89 |
Mastercard,
Inc., Class A |
44,470 | |||
|
147 |
Visa,
Inc., Class A |
44,429 | |||
|
|
|
88,899 | |||
|
|
Health
Care Equipment & Supplies
— 1.6%
|
| |||
|
68 |
IDEXX
Laboratories, Inc. (a) |
38,209 | |||
|
|
Health
Care Providers & Services
— 4.1%
|
| |||
|
140 |
Cencora,
Inc. |
43,980 | |||
|
59 |
McKesson
Corp. |
51,056 | |||
|
|
|
95,036 | |||
|
|
Hotels,
Restaurants & Leisure —
6.4%
|
| |||
|
154 |
McDonald’s
Corp. |
47,862 | |||
|
569 |
Starbucks
Corp. |
50,977 | |||
|
332 |
Yum!
Brands, Inc. |
51,619 | |||
|
|
|
150,458 | |||
|
|
Household
Products — 6.3%
|
| |||
|
614 |
Colgate-Palmolive
Co. |
52,331 | |||
|
463 |
Kimberly-Clark
Corp. |
44,666 | |||
|
342 |
Procter
& Gamble (The) Co. |
49,398 | |||
|
|
|
146,395 | |||
|
|
Insurance
— 1.8%
|
| |||
|
214 |
Progressive
(The) Corp. |
42,423 | |||
|
Shares |
Description |
Value | |||
|
| |||||
|
|
Interactive
Media & Services —
3.6%
|
| |||
|
149 |
Alphabet,
Inc., Class C |
$42,742 | |||
|
73 |
Meta
Platforms, Inc., Class A |
41,766 | |||
|
|
|
84,508 | |||
|
|
IT
Services — 2.1%
|
| |||
|
197 |
VeriSign,
Inc. |
48,927 | |||
|
|
Life
Sciences Tools & Services —
1.8%
|
| |||
|
34 |
Mettler-Toledo
International,
Inc.
(a) |
42,881 | |||
|
|
Oil,
Gas & Consumable Fuels —
3.3%
|
| |||
|
161 |
Texas
Pacific Land Corp. |
76,404 | |||
|
|
Pharmaceuticals
— 3.9%
|
| |||
|
48 |
Eli
Lilly & Co. |
44,149 | |||
|
404 |
Zoetis,
Inc. |
47,757 | |||
|
|
|
91,906 | |||
|
|
Professional
Services — 3.3%
|
| |||
|
184 |
Automatic
Data Processing, Inc. |
37,385 | |||
|
423 |
Paychex,
Inc. |
38,967 | |||
|
|
|
76,352 | |||
|
|
Semiconductors
&
Semiconductor
Equipment —
13.2%
|
| |||
|
174 |
Applied
Materials, Inc. |
59,472 | |||
|
39 |
KLA
Corp. |
57,424 | |||
|
284 |
Lam
Research Corp. |
60,679 | |||
|
260 |
NVIDIA
Corp. |
45,344 | |||
|
262 |
QUALCOMM,
Inc. |
33,740 | |||
|
263 |
Texas
Instruments, Inc. |
51,059 | |||
|
|
|
307,718 | |||
|
|
Software
— 7.6%
|
| |||
|
139 |
Adobe,
Inc. (a) |
33,788 | |||
|
27 |
Fair
Isaac Corp. (a) |
28,824 | |||
|
585 |
Fortinet,
Inc. (a) |
47,806 | |||
|
100 |
Microsoft
Corp. |
37,017 | |||
|
214 |
Oracle
Corp. |
31,481 | |||
|
|
|
178,916 | |||
|
|
Specialty
Retail — 7.9%
|
| |||
|
14 |
AutoZone,
Inc. (a) |
47,289 | |||
|
136 |
Home
Depot (The), Inc. |
44,729 | |||
|
194 |
Lowe’s
Cos., Inc. |
45,838 | |||
|
510 |
O’Reilly
Automotive, Inc. (a) |
47,078 | |||
|
|
|
184,934 | |||
|
|
Technology
Hardware, Storage &
Peripherals — 3.4%
|
| |||
|
171 |
Apple,
Inc. |
43,398 | |||
|
1,873 |
HP,
Inc. |
35,980 | |||
|
|
|
79,378 | |||
|
Shares |
Description |
Value | |||
|
COMMON
STOCKS (Continued) | |||||
|
|
Textiles,
Apparel & Luxury Goods
— 4.1%
|
| |||
|
726 |
NIKE,
Inc., Class B |
$38,347 | |||
|
406 |
Tapestry,
Inc. |
57,291 | |||
|
|
|
95,638 | |||
|
|
Tobacco
— 4.6%
|
| |||
|
814 |
Altria
Group, Inc. |
53,716 | |||
|
319 |
Philip
Morris International, Inc. |
52,743 | |||
|
|
|
106,459 | |||
|
| |||||
|
| |||||
|
|
Total
Investments — 99.8% |
2,335,545 | |||
|
|
(Cost
$2,513,126) |
| |||
|
|
Net
Other Assets and
Liabilities
— 0.2% |
4,429 | |||
|
|
Net
Assets — 100.0% |
$2,339,974 | |||
|
(a) |
Non-income
producing security. |
|
|
Total
Value at
3/31/2026 |
Level 1
Quoted
Prices |
Level 2
Significant
Observable
Inputs |
Level 3
Significant
Unobservable
Inputs |
|
Common
Stocks* |
$2,335,545 |
$2,335,545 |
$— |
$— |
|
* |
See
Portfolio of Investments for industry
breakout. |
|
|
First Trust
NASDAQ
Technology
Dividend Index
Fund
(TDIV)
|
Multi-Asset
Diversified
Income Index
Fund
(MDIV)
|
First Trust
S&P
International
Dividend
Aristocrats
ETF
(FID)
|
|
ASSETS: |
|
|
|
|
Investments,
at value - Unaffiliated |
$3,541,390,951 |
$313,251,715 |
$150,970,966 |
|
Investments,
at value - Affiliated |
— |
79,978,765 |
— |
|
Total
investments, at value |
3,541,390,951 |
393,230,480 |
150,970,966 |
|
Cash |
— |
— |
12,373 |
|
Foreign
currency, at value |
— |
— |
99,645 |
|
Receivables: |
|
|
|
|
Dividends |
4,458,188 |
1,597,590 |
789,854 |
|
Reclaims |
542,222 |
— |
459,430 |
|
Investment
securities sold |
— |
— |
6,711,982 |
|
Capital
shares sold |
— |
— |
— |
|
Securities
lending income |
— |
— |
— |
|
Prepaid
expenses |
— |
— |
— |
|
Total
Assets |
3,546,391,361 |
394,828,070 |
159,044,250 |
|
| |||
|
LIABILITIES: |
|
|
|
|
Due
to custodian |
5,110 |
— |
— |
|
Payables: |
|
|
|
|
Investment
advisory fees |
1,541,247 |
166,874 |
77,338 |
|
Investment
securities purchased |
— |
— |
6,776,170 |
|
Capital
shares redeemed |
— |
— |
— |
|
Collateral
for securities on loan |
— |
— |
— |
|
Other
liabilities |
— |
— |
— |
|
Total
Liabilities |
1,546,357 |
166,874 |
6,853,508 |
|
NET
ASSETS |
$3,544,845,004 |
$394,661,196 |
$152,190,742 |
|
| |||
|
NET
ASSETS consist of: |
|
|
|
|
Paid-in
capital |
$2,877,736,165 |
$624,286,864 |
$137,748,839 |
|
Par
value |
378,550 |
244,500 |
73,000 |
|
Accumulated
distributable earnings (loss) |
666,730,289 |
(229,870,168
) |
14,368,903 |
|
NET
ASSETS |
$3,544,845,004 |
$394,661,196 |
$152,190,742 |
|
NET
ASSET VALUE,
per share |
$93.64 |
$16.14 |
$20.85 |
|
Number
of shares outstanding (unlimited number of shares authorized,
par
value $0.01 per share) |
37,855,000 |
24,450,002 |
7,300,002 |
|
Investments,
at cost - Unaffiliated |
$2,964,128,399 |
$291,912,191 |
$138,979,898 |
|
Investments,
at cost - Affiliated |
$— |
$91,302,838 |
$— |
|
Total
investments, at cost |
$2,964,128,399 |
$383,215,029 |
$138,979,898 |
|
Foreign
currency, at cost (proceeds) |
$— |
$— |
$99,644 |
|
Securities
on loan, at value |
$— |
$— |
$— |
|
First Trust Rising
Dividend
Achievers
ETF
(RDVY)
|
First Trust Dorsey
Wright Focus 5
ETF
(FV)
|
First Trust Dorsey
Wright
Momentum &
Dividend
ETF
(DDIV)
|
First Trust RBA
American
Industrial
Renaissance® ETF
(AIRR)
|
First Trust Dorsey
Wright
International
Focus 5 ETF
(IFV)
|
First Trust Dorsey
Wright Dynamic
Focus 5 ETF
(FVC)
|
|
|
|
|
|
|
|
|
$19,844,958,770 |
$1,003,949 |
$62,713,288 |
$8,388,257,732 |
$314,099 |
$100,770 |
|
— |
3,236,703,762 |
— |
— |
220,636,435 |
95,732,587 |
|
19,844,958,770 |
3,237,707,711 |
62,713,288 |
8,388,257,732 |
220,950,534 |
95,833,357 |
|
— |
8,839 |
98 |
14,098 |
— |
— |
|
— |
— |
— |
— |
— |
— |
|
|
|
|
|
|
|
|
15,624,632 |
25,919 |
39,177 |
3,185,521 |
615 |
441 |
|
— |
— |
— |
— |
— |
— |
|
— |
3,022,132 |
— |
— |
— |
— |
|
13,659,848 |
— |
— |
5,541,976 |
— |
— |
|
— |
— |
— |
1,442 |
— |
— |
|
— |
— |
— |
— |
— |
— |
|
19,874,243,250 |
3,240,764,601 |
62,752,563 |
8,397,000,769 |
220,951,149 |
95,833,798 |
|
| |||||
|
|
|
|
|
|
|
|
— |
— |
— |
— |
— |
— |
|
|
|
|
|
|
|
|
7,834,995 |
863,771 |
32,110 |
4,825,792 |
60,395 |
24,849 |
|
13,640,367 |
— |
— |
5,535,244 |
— |
— |
|
— |
3,022,938 |
— |
— |
— |
— |
|
— |
— |
— |
1,629,879 |
— |
— |
|
— |
— |
— |
— |
— |
— |
|
21,475,362 |
3,886,709 |
32,110 |
11,990,915 |
60,395 |
24,849 |
|
$19,852,767,888 |
$3,236,877,892 |
$62,720,453 |
$8,385,009,854 |
$220,890,754 |
$95,808,949 |
|
| |||||
|
|
|
|
|
|
|
|
$18,120,607,188 |
$3,078,614,002 |
$82,554,026 |
$6,807,244,041 |
$344,831,773 |
$180,499,112 |
|
2,907,500 |
535,500 |
15,500 |
756,500 |
87,500 |
27,500 |
|
1,729,253,200 |
157,728,390 |
(19,849,073
) |
1,577,009,313 |
(124,028,519
) |
(84,717,663
) |
|
$19,852,767,888 |
$3,236,877,892 |
$62,720,453 |
$8,385,009,854 |
$220,890,754 |
$95,808,949 |
|
$68.28 |
$60.45 |
$40.46 |
$110.84 |
$25.24 |
$34.84 |
|
290,750,002 |
53,550,002 |
1,550,002 |
75,650,002 |
8,750,002 |
2,750,002 |
|
$17,239,978,868 |
$1,003,949 |
$60,919,910 |
$6,930,799,056 |
$314,099 |
$100,770 |
|
$— |
$3,223,251,251 |
$— |
$— |
$195,280,512 |
$95,940,705 |
|
$17,239,978,868 |
$3,224,255,200 |
$60,919,910 |
$6,930,799,056 |
$195,594,611 |
$96,041,475 |
|
$— |
$— |
$— |
$— |
$— |
$— |
|
$— |
$— |
$— |
$1,627,131 |
$— |
$— |
|
|
First Trust
SMID Cap
Rising Dividend
Achievers
ETF
(SDVY)
|
First Trust
Indxx
Innovative
Transaction &
Process ETF
(LEGR)
|
First Trust
Nasdaq
Artificial
Intelligence and
Robotics
ETF
(ROBT)
|
|
ASSETS: |
|
|
|
|
Investments,
at value - Unaffiliated |
$10,100,028,756 |
$120,936,810 |
$651,280,756 |
|
Investments,
at value - Affiliated |
— |
— |
— |
|
Total
investments, at value |
10,100,028,756 |
120,936,810 |
651,280,756 |
|
Cash |
— |
— |
16,541 |
|
Foreign
currency, at value |
— |
202,160 |
63,215 |
|
Receivables: |
|
|
|
|
Dividends |
6,461,312 |
260,216 |
541,094 |
|
Reclaims |
— |
219,027 |
179,371 |
|
Investment
securities sold |
— |
2,868,872 |
— |
|
Capital
shares sold |
1,970,632 |
4,545 |
— |
|
Securities
lending income |
— |
21,639 |
80,121 |
|
Prepaid
expenses |
— |
7,252 |
— |
|
Total
Assets |
10,108,460,700 |
124,520,521 |
652,161,098 |
|
| |||
|
LIABILITIES: |
|
|
|
|
Due
to custodian |
— |
26,852 |
— |
|
Payables: |
|
|
|
|
Investment
advisory fees |
5,031,923 |
68,449 |
354,195 |
|
Investment
securities purchased |
1,969,311 |
— |
— |
|
Capital
shares redeemed |
— |
2,892,198 |
— |
|
Collateral
for securities on loan |
— |
5,969,361 |
40,498,333 |
|
Other
liabilities |
— |
— |
10,360 |
|
Total
Liabilities |
7,001,234 |
8,956,860 |
40,862,888 |
|
NET
ASSETS |
$10,101,459,466 |
$115,563,661 |
$611,298,210 |
|
| |||
|
NET
ASSETS consist of: |
|
|
|
|
Paid-in
capital |
$9,387,950,488 |
$98,530,328 |
$717,548,083 |
|
Par
value |
2,563,000 |
20,000 |
132,500 |
|
Accumulated
distributable earnings (loss) |
710,945,978 |
17,013,333 |
(106,382,373
) |
|
NET
ASSETS |
$10,101,459,466 |
$115,563,661 |
$611,298,210 |
|
NET
ASSET VALUE,
per share |
$39.41 |
$57.78 |
$46.14 |
|
Number
of shares outstanding (unlimited number of shares authorized,
par
value $0.01 per share) |
256,300,002 |
2,000,002 |
13,250,002 |
|
Investments,
at cost - Unaffiliated |
$8,948,102,214 |
$105,197,456 |
$677,080,899 |
|
Investments,
at cost - Affiliated |
$— |
$— |
$— |
|
Total
investments, at cost |
$8,948,102,214 |
$105,197,456 |
$677,080,899 |
|
Foreign
currency, at cost (proceeds) |
$— |
$202,162 |
$63,626 |
|
Securities
on loan, at value |
$— |
$5,992,607 |
$42,446,476 |
|
First Trust
Dorsey Wright
Momentum &
Low Volatility
ETF
(DVOL)
|
First Trust
Dorsey Wright
Momentum &
Value ETF
(DVLU)
|
First Trust
International
Developed
Capital
Strength® ETF
(FICS)
|
First Trust
S&P
500 Economic
Moat ETF
(EMOT)
|
|
|
|
|
|
|
$69,177,207 |
$41,071,193 |
$212,783,189 |
$2,335,545 |
|
— |
— |
— |
— |
|
69,177,207 |
41,071,193 |
212,783,189 |
2,335,545 |
|
— |
— |
— |
1,968 |
|
— |
— |
86,329 |
— |
|
|
|
|
|
|
22,917 |
15,600 |
418,112 |
3,694 |
|
— |
— |
727,395 |
— |
|
— |
— |
— |
— |
|
19,743 |
— |
— |
— |
|
— |
— |
— |
— |
|
— |
— |
— |
— |
|
69,219,867 |
41,086,793 |
214,015,025 |
2,341,207 |
|
| |||
|
|
|
|
|
|
352 |
— |
— |
— |
|
|
|
|
|
|
35,301 |
21,045 |
129,605 |
1,233 |
|
— |
— |
— |
— |
|
— |
— |
— |
— |
|
— |
— |
— |
— |
|
— |
— |
— |
— |
|
35,653 |
21,045 |
129,605 |
1,233 |
|
$69,184,214 |
$41,065,748 |
$213,885,420 |
$2,339,974 |
|
| |||
|
|
|
|
|
|
$86,772,111 |
$50,012,823 |
$199,167,403 |
$2,022,999 |
|
20,000 |
12,000 |
55,000 |
1,000 |
|
(17,607,897
) |
(8,959,075
) |
14,663,017 |
315,975 |
|
$69,184,214 |
$41,065,748 |
$213,885,420 |
$2,339,974 |
|
$34.59 |
$34.22 |
$38.89 |
$23.40 |
|
2,000,002 |
1,200,002 |
5,500,002 |
100,002 |
|
$69,007,564 |
$41,211,076 |
$194,837,993 |
$2,513,126 |
|
$— |
$— |
$— |
$— |
|
$69,007,564 |
$41,211,076 |
$194,837,993 |
$2,513,126 |
|
$— |
$— |
$86,638 |
$— |
|
$— |
$— |
$— |
$— |
|
|
First Trust
NASDAQ
Technology
Dividend Index
Fund
(TDIV)
|
Multi-Asset
Diversified
Income Index
Fund
(MDIV)
|
First Trust
S&P
International
Dividend
Aristocrats
ETF
(FID)
|
|
INVESTMENT
INCOME: |
|
|
|
|
Dividends
- Unaffiliated |
$38,356,778 |
$9,527,468 |
$2,123,470 |
|
Dividends
- Affiliated |
— |
2,660,674 |
— |
|
Securities
lending income (net of fees) |
— |
— |
— |
|
Foreign
withholding tax |
(1,531,458
) |
1,234 |
(227,250
) |
|
Total
investment income |
36,825,320 |
12,189,376 |
1,896,220 |
|
| |||
|
EXPENSES: |
|
|
|
|
Investment
advisory fees |
9,254,710
|
1,222,847
|
403,166
|
|
Other
expenses |
2,896 |
421 |
98 |
|
Total
expenses |
9,257,606 |
1,223,268 |
403,264 |
|
Less
fees waived by the investment advisor |
— |
(243,242
) |
— |
|
Net
expenses |
9,257,606 |
980,026 |
403,264 |
|
NET
INVESTMENT INCOME (LOSS) |
27,567,714 |
11,209,350 |
1,492,956 |
|
| |||
|
NET
REALIZED AND UNREALIZED GAIN (LOSS): |
|
|
|
|
Net
realized gain (loss) on: |
|
|
|
|
Investments
- Unaffiliated |
(64,417,083
) |
5,380,898 |
(1,276,730
) |
|
Investments
- Affiliated |
— |
(382,612
) |
— |
|
In-kind
redemptions - Unaffiliated |
471,209,153 |
(808,478
) |
13,248,632 |
|
In-kind
redemptions - Affiliated |
— |
67,722 |
— |
|
Foreign
currency transactions |
(4,300
) |
— |
(41,343
) |
|
Foreign
capital gains tax |
— |
— |
— |
|
Net
realized gain (loss) |
406,787,770 |
4,257,530 |
11,930,559 |
|
Net
change in unrealized appreciation (depreciation) on: |
|
|
|
|
Investments
- Unaffiliated |
(591,778,235
) |
2,882,698 |
(4,869,815
) |
|
Investments
- Affiliated |
— |
(2,523,609
) |
— |
|
Foreign
currency translation |
(30,582
) |
— |
(10,140
) |
|
Deferred
foreign capital gains tax |
— |
— |
— |
|
Net
change in unrealized appreciation (depreciation) |
(591,808,817
) |
359,089 |
(4,879,955
) |
|
NET
REALIZED AND UNREALIZED GAIN (LOSS) |
(185,021,047
) |
4,616,619 |
7,050,604 |
|
NET
INCREASE (DECREASE) IN NET ASSETS RESULTING
FROM
OPERATIONS |
$(157,453,333
) |
$15,825,969 |
$8,543,560 |
|
First Trust Rising
Dividend
Achievers
ETF
(RDVY)
|
First Trust Dorsey
Wright Focus 5
ETF
(FV)
|
First Trust Dorsey
Wright
Momentum &
Dividend
ETF
(DDIV)
|
First Trust RBA
American
Industrial
Renaissance® ETF
(AIRR)
|
First Trust Dorsey
Wright
International
Focus 5 ETF
(IFV)
|
First Trust Dorsey
Wright Dynamic
Focus 5 ETF
(FVC)
|
|
|
|
|
|
|
|
|
$150,083,431 |
$92,869 |
$751,217 |
$28,968,927 |
$4,710 |
$2,597 |
|
— |
16,925,716 |
— |
— |
1,435,908 |
679,897 |
|
— |
— |
— |
12,820 |
— |
— |
|
— |
— |
(3,450
) |
— |
— |
— |
|
150,083,431 |
17,018,585 |
747,767 |
28,981,747 |
1,440,618 |
682,494 |
|
| |||||
|
|
|
|
|
|
|
|
43,961,317
|
5,439,515
|
199,771
|
24,095,333
|
306,641
|
158,809
|
|
13,579 |
3,364 |
61 |
3,544 |
113 |
120 |
|
43,974,896 |
5,442,879 |
199,832 |
24,098,877 |
306,754 |
158,929 |
|
— |
— |
— |
— |
— |
— |
|
43,974,896 |
5,442,879 |
199,832 |
24,098,877 |
306,754 |
158,929 |
|
106,108,535 |
11,575,706 |
547,935 |
4,882,870 |
1,133,864 |
523,565 |
|
| |||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(128,806,722
) |
— |
1,199,633 |
(43,091,494
) |
— |
— |
|
— |
(90,621,553
) |
— |
— |
2,005,653 |
1,391,160 |
|
500,404,582 |
— |
3,720,113 |
452,412,147 |
— |
— |
|
— |
759,231,480 |
— |
— |
4,081,659 |
1,699,980 |
|
— |
— |
— |
— |
— |
— |
|
— |
— |
— |
— |
— |
— |
|
371,597,860 |
668,609,927 |
4,919,746 |
409,320,653 |
6,087,312 |
3,091,140 |
|
|
|
|
|
|
|
|
(153,429,936
) |
— |
(4,202,660
) |
493,889,541 |
— |
— |
|
— |
(771,638,766
) |
— |
— |
(3,103,777
) |
(5,767,046
) |
|
— |
— |
— |
— |
— |
— |
|
— |
— |
— |
— |
— |
— |
|
(153,429,936
) |
(771,638,766
) |
(4,202,660
) |
493,889,541 |
(3,103,777
) |
(5,767,046
) |
|
218,167,924 |
(103,028,839
) |
717,086 |
903,210,194 |
2,983,535 |
(2,675,906
) |
|
$324,276,459 |
$(91,453,133
) |
$1,265,021 |
$908,093,064 |
$4,117,399 |
$(2,152,341
) |
|
|
First Trust
SMID Cap
Rising Dividend
Achievers
ETF
(SDVY)
|
First Trust
Indxx
Innovative
Transaction &
Process ETF
(LEGR)
|
First Trust
Nasdaq
Artificial
Intelligence and
Robotics
ETF
(ROBT)
|
|
INVESTMENT
INCOME: |
|
|
|
|
Dividends
- Unaffiliated |
$84,682,198 |
$1,271,551 |
$1,932,884 |
|
Dividends
- Affiliated |
— |
— |
— |
|
Securities
lending income (net of fees) |
— |
92,111 |
241,518 |
|
Foreign
withholding tax |
(401,707
) |
(24,946
) |
(133,223
) |
|
Total
investment income |
84,280,491 |
1,338,716 |
2,041,179 |
|
| |||
|
EXPENSES: |
|
|
|
|
Investment
advisory fees |
28,033,461
|
400,940
|
2,167,747
|
|
Other
expenses |
7,543 |
94 |
441 |
|
Total
expenses |
28,041,004 |
401,034 |
2,168,188 |
|
Less
fees waived by the investment advisor |
— |
— |
— |
|
Net
expenses |
28,041,004 |
401,034 |
2,168,188 |
|
NET
INVESTMENT INCOME (LOSS) |
56,239,487 |
937,682 |
(127,009
) |
|
| |||
|
NET
REALIZED AND UNREALIZED GAIN (LOSS): |
|
|
|
|
Net
realized gain (loss) on: |
|
|
|
|
Investments
- Unaffiliated |
(176,338,838
) |
(133,136
) |
3,706,838 |
|
Investments
- Affiliated |
— |
— |
— |
|
In-kind
redemptions - Unaffiliated |
478,476,372 |
7,811,505 |
19,153,136 |
|
In-kind
redemptions - Affiliated |
— |
— |
— |
|
Foreign
currency transactions |
— |
(30,609
) |
(243,942
) |
|
Foreign
capital gains tax |
— |
(6,970
) |
— |
|
Net
realized gain (loss) |
302,137,534 |
7,640,790 |
22,616,032 |
|
Net
change in unrealized appreciation (depreciation) on: |
|
|
|
|
Investments
- Unaffiliated |
22,583,978 |
(4,869,567
) |
(113,218,244
) |
|
Investments
- Affiliated |
— |
— |
— |
|
Foreign
currency translation |
— |
(9,147
) |
(7,254
) |
|
Deferred
foreign capital gains tax |
— |
15,686 |
— |
|
Net
change in unrealized appreciation (depreciation) |
22,583,978 |
(4,863,028
) |
(113,225,498
) |
|
NET
REALIZED AND UNREALIZED GAIN (LOSS) |
324,721,512 |
2,777,762 |
(90,609,466
) |
|
NET
INCREASE (DECREASE) IN NET ASSETS RESULTING
FROM
OPERATIONS |
$380,960,999 |
$3,715,444 |
$(90,736,475
) |
|
First Trust
Dorsey Wright
Momentum &
Low Volatility
ETF
(DVOL)
|
First Trust
Dorsey Wright
Momentum &
Value ETF
(DVLU)
|
First Trust
International
Developed
Capital
Strength® ETF
(FICS)
|
First Trust
S&P
500 Economic
Moat ETF
(EMOT)
|
|
|
|
|
|
|
$521,212 |
$218,876 |
$2,442,234 |
$35,704 |
|
— |
— |
— |
— |
|
— |
— |
— |
— |
|
(1,925
) |
(1,889
) |
(169,211
) |
— |
|
519,287 |
216,987 |
2,273,023 |
35,704 |
|
| |||
|
|
|
|
|
|
237,430
|
113,646
|
769,375
|
11,702
|
|
72 |
27 |
206 |
4 |
|
237,502 |
113,673 |
769,581 |
11,706 |
|
— |
— |
— |
— |
|
237,502 |
113,673 |
769,581 |
11,706 |
|
281,785 |
103,314 |
1,503,442 |
23,998 |
|
| |||
|
|
|
|
|
|
|
|
|
|
|
1,679,946 |
(282,259
) |
644,452 |
(55,444
) |
|
— |
— |
— |
— |
|
2,202,584 |
6,250,766 |
1,969,819 |
621,905 |
|
— |
— |
— |
— |
|
— |
— |
(17,233
) |
— |
|
— |
— |
— |
— |
|
3,882,530 |
5,968,507 |
2,597,038 |
566,461 |
|
|
|
|
|
|
(5,368,704
) |
(5,928,977
) |
2,481,016 |
(585,630
) |
|
— |
— |
— |
— |
|
— |
— |
(7,295
) |
— |
|
— |
— |
— |
— |
|
(5,368,704
) |
(5,928,977
) |
2,473,721 |
(585,630
) |
|
(1,486,174
) |
39,530 |
5,070,759 |
(19,169
) |
|
$(1,204,389
) |
$142,844 |
$6,574,201 |
$4,829 |
|
|
First Trust NASDAQ
Technology
Dividend Index
Fund (TDIV) |
Multi-Asset
Diversified Income
Index Fund
(MDIV) | ||
|
|
Six Months
Ended
3/31/2026
(Unaudited) |
Year
Ended
9/30/2025 |
Six Months
Ended
3/31/2026
(Unaudited) |
Year
Ended
9/30/2025 |
|
OPERATIONS: |
|
|
|
|
|
Net
investment income (loss) |
$27,567,714 |
$48,542,041 |
$11,209,350 |
$20,809,307 |
|
Net
realized gain (loss) |
406,787,770 |
247,283,223 |
4,257,530 |
16,583,028 |
|
Net
change in unrealized appreciation (depreciation) |
(591,808,817
) |
429,675,463 |
359,089 |
(24,484,764
) |
|
Net
increase (decrease) in net assets resulting from
operations |
(157,453,333
) |
725,500,727 |
15,825,969 |
12,907,571 |
|
| ||||
|
DISTRIBUTIONS
TO SHAREHOLDERS FROM: |
|
|
|
|
|
Investment
operations |
(30,843,336
) |
(48,073,023
) |
(13,538,696
) |
(28,075,432
) |
|
| ||||
|
SHAREHOLDER
TRANSACTIONS: |
|
|
|
|
|
Proceeds
from shares sold |
761,643,662
|
743,327,660
|
7,280,814
|
60,603,846
|
|
Cost
of shares redeemed |
(784,484,430
) |
(541,941,155
) |
(45,434,740
) |
(54,446,590
) |
|
Net
increase (decrease) in net assets resulting from
shareholder
transactions |
(22,840,768
) |
201,386,505 |
(38,153,926
) |
6,157,256 |
|
Total
increase (decrease) in net assets |
(211,137,437
) |
878,814,209 |
(35,866,653
) |
(9,010,605
) |
|
| ||||
|
NET
ASSETS: |
|
|
|
|
|
Beginning
of period |
3,755,982,441 |
2,877,168,232 |
430,527,849 |
439,538,454 |
|
End
of period |
$3,544,845,004 |
$3,755,982,441 |
$394,661,196 |
$430,527,849 |
|
| ||||
|
CHANGES
IN SHARES OUTSTANDING: |
|
|
|
|
|
Shares
outstanding, beginning of period |
38,105,000 |
35,855,000 |
26,850,002 |
26,500,002 |
|
Shares
sold |
7,950,000 |
8,450,000 |
450,000 |
3,750,000 |
|
Shares
redeemed |
(8,200,000
) |
(6,200,000
) |
(2,850,000
) |
(3,400,000
) |
|
Shares
outstanding, end of period |
37,855,000 |
38,105,000 |
24,450,002 |
26,850,002 |
|
First Trust
S&P International Dividend
Aristocrats ETF
(FID) |
First Trust Rising
Dividend Achievers
ETF
(RDVY) |
First Trust Dorsey
Wright Focus 5 ETF
(FV) | |||
|
Six Months
Ended
3/31/2026
(Unaudited) |
Year
Ended
9/30/2025 |
Six Months
Ended
3/31/2026
(Unaudited) |
Year
Ended
9/30/2025 |
Six Months
Ended
3/31/2026
(Unaudited) |
Year
Ended
9/30/2025 |
|
|
|
|
|
|
|
|
$1,492,956 |
$3,825,732 |
$106,108,535 |
$193,888,407 |
$11,575,706 |
$18,737,875 |
|
11,930,559 |
3,298,003 |
371,597,860 |
1,138,953,518 |
668,609,927 |
399,319,859 |
|
(4,879,955
) |
8,358,302 |
(153,429,936
) |
781,956,323 |
(771,638,766
) |
(191,238,072
) |
|
8,543,560 |
15,482,037 |
324,276,459 |
2,114,798,248 |
(91,453,133
) |
226,819,662 |
|
| |||||
|
|
|
|
|
|
|
|
(2,250,441
) |
(4,365,901
) |
(106,646,811
) |
(199,259,427
) |
(12,307,090
) |
(18,414,330
) |
|
| |||||
|
|
|
|
|
|
|
|
70,060,776
|
26,836,281
|
4,330,821,940
|
9,947,875,765
|
3,904,939,003
|
1,402,011,473
|
|
(44,986,772
) |
—
|
(1,945,503,763
) |
(6,705,006,990
) |
(4,273,260,176
) |
(1,679,049,983
) |
|
25,074,004 |
26,836,281 |
2,385,318,177 |
3,242,868,775 |
(368,321,173
) |
(277,038,510
) |
|
31,367,123 |
37,952,417 |
2,602,947,825 |
5,158,407,596 |
(472,081,396
) |
(68,633,178
) |
|
| |||||
|
|
|
|
|
|
|
|
120,823,619 |
82,871,202 |
17,249,820,063 |
12,091,412,467 |
3,708,959,288 |
3,777,592,466 |
|
$152,190,742 |
$120,823,619 |
$19,852,767,888 |
$17,249,820,063 |
$3,236,877,892 |
$3,708,959,288 |
|
| |||||
|
|
|
|
|
|
|
|
6,150,002 |
4,700,002 |
256,450,002 |
204,250,002 |
59,900,002 |
64,900,002 |
|
3,250,000 |
1,450,000 |
62,200,000 |
162,750,000 |
60,250,000 |
26,000,000 |
|
(2,100,000
) |
— |
(27,900,000
) |
(110,550,000
) |
(66,600,000
) |
(31,000,000
) |
|
7,300,002 |
6,150,002 |
290,750,002 |
256,450,002 |
53,550,002 |
59,900,002 |
|
|
First Trust Dorsey
Wright
Momentum &
Dividend ETF
(DDIV) |
First Trust RBA
American
Industrial
Renaissance® ETF
(AIRR) | ||
|
|
Six Months
Ended
3/31/2026
(Unaudited) |
Year
Ended
9/30/2025 |
Six Months
Ended
3/31/2026
(Unaudited) |
Year
Ended
9/30/2025 |
|
OPERATIONS: |
|
|
|
|
|
Net
investment income (loss) |
$547,935 |
$1,390,138 |
$4,882,870 |
$8,983,792 |
|
Net
realized gain (loss) |
4,919,746 |
5,925,250 |
409,320,653 |
192,119,470 |
|
Net
change in unrealized appreciation (depreciation) |
(4,202,660
) |
(1,189,335
) |
493,889,541 |
759,101,784 |
|
Net
increase (decrease) in net assets resulting from
operations |
1,265,021 |
6,126,053 |
908,093,064 |
960,205,046 |
|
| ||||
|
DISTRIBUTIONS
TO SHAREHOLDERS FROM: |
|
|
|
|
|
Investment
operations |
(600,916
) |
(1,450,777
) |
(6,791,000
) |
(9,374,755
) |
|
| ||||
|
SHAREHOLDER
TRANSACTIONS: |
|
|
|
|
|
Proceeds
from shares sold |
23,585,206
|
36,840,849
|
3,075,633,598
|
4,634,169,309
|
|
Cost
of shares redeemed |
(27,833,253
) |
(35,872,996
) |
(1,176,286,503
) |
(1,693,284,273
) |
|
Net
increase (decrease) in net assets resulting from
shareholder
transactions |
(4,248,047
) |
967,853 |
1,899,347,095 |
2,940,885,036 |
|
Total
increase (decrease) in net assets |
(3,583,942
) |
5,643,129 |
2,800,649,159 |
3,891,715,327 |
|
| ||||
|
NET
ASSETS: |
|
|
|
|
|
Beginning
of period |
66,304,395 |
60,661,266 |
5,584,360,695 |
1,692,645,368 |
|
End
of period |
$62,720,453 |
$66,304,395 |
$8,385,009,854 |
$5,584,360,695 |
|
| ||||
|
CHANGES
IN SHARES OUTSTANDING: |
|
|
|
|
|
Shares
outstanding, beginning of period |
1,650,002 |
1,650,002 |
57,750,002 |
22,700,002 |
|
Shares
sold |
550,000 |
950,000 |
28,650,000 |
56,150,000 |
|
Shares
redeemed |
(650,000
) |
(950,000
) |
(10,750,000
) |
(21,100,000
) |
|
Shares
outstanding, end of period |
1,550,002 |
1,650,002 |
75,650,002 |
57,750,002 |
|
First Trust Dorsey
Wright
International
Focus 5 ETF (IFV) |
First Trust Dorsey
Wright Dynamic
Focus 5 ETF
(FVC) |
First Trust SMID
Cap Rising Dividend
Achievers ETF
(SDVY) | |||
|
Six Months
Ended
3/31/2026
(Unaudited) |
Year
Ended
9/30/2025 |
Six Months
Ended
3/31/2026
(Unaudited) |
Year
Ended
9/30/2025 |
Six Months
Ended
3/31/2026
(Unaudited) |
Year
Ended
9/30/2025 |
|
|
|
|
|
|
|
|
$1,133,864 |
$3,781,344 |
$523,565 |
$2,481,506 |
$56,239,487 |
$122,136,573 |
|
6,087,312 |
19,805,021 |
3,091,140 |
13,466,662 |
302,137,534 |
(149,852,586
) |
|
(3,103,777
) |
(5,884,461
) |
(5,767,046
) |
(13,083,000
) |
22,583,978 |
421,611,858 |
|
4,117,399 |
17,701,904 |
(2,152,341
) |
2,865,168 |
380,960,999 |
393,895,845 |
|
| |||||
|
|
|
|
|
|
|
|
(1,225,155
) |
(3,758,351
) |
(953,441
) |
(2,196,306
) |
(56,904,476
) |
(124,118,861
) |
|
| |||||
|
|
|
|
|
|
|
|
63,004,336
|
51,688,728
|
1,689,858
|
12,358,821
|
2,651,561,257
|
4,806,495,692
|
|
(20,169,601
) |
(89,300,818
) |
(14,614,225
) |
(55,627,723
) |
(1,833,651,644
) |
(2,238,862,846
) |
|
42,834,735 |
(37,612,090
) |
(12,924,367
) |
(43,268,902
) |
817,909,613 |
2,567,632,846 |
|
45,726,979 |
(23,668,537
) |
(16,030,149
) |
(42,600,040
) |
1,141,966,136 |
2,837,409,830 |
|
| |||||
|
|
|
|
|
|
|
|
175,163,775 |
198,832,312 |
111,839,098 |
154,439,138 |
8,959,493,330 |
6,122,083,500 |
|
$220,890,754 |
$175,163,775 |
$95,808,949 |
$111,839,098 |
$10,101,459,466 |
$8,959,493,330 |
|
| |||||
|
|
|
|
|
|
|
|
7,150,002 |
9,450,002 |
3,100,002 |
4,300,002 |
235,750,002 |
168,350,002 |
|
2,400,000 |
2,250,000 |
50,000 |
350,000 |
67,650,000 |
130,400,000 |
|
(800,000
) |
(4,550,000
) |
(400,000
) |
(1,550,000
) |
(47,100,000
) |
(63,000,000
) |
|
8,750,002 |
7,150,002 |
2,750,002 |
3,100,002 |
256,300,002 |
235,750,002 |
|
|
First Trust Indxx
Innovative
Transaction &
Process ETF
(LEGR) |
First Trust Nasdaq
Artificial
Intelligence and
Robotics ETF
(ROBT) | ||
|
|
Six Months
Ended
3/31/2026
(Unaudited) |
Year
Ended
9/30/2025 |
Six Months
Ended
3/31/2026
(Unaudited) |
Year
Ended
9/30/2025 |
|
OPERATIONS: |
|
|
|
|
|
Net
investment income (loss) |
$937,682 |
$2,039,709 |
$(127,009
) |
$1,593,029 |
|
Net
realized gain (loss) |
7,640,790 |
7,929,201 |
22,616,032 |
4,592,905 |
|
Net
change in unrealized appreciation (depreciation) |
(4,863,028
) |
9,209,169 |
(113,225,498
) |
89,708,987 |
|
Net
increase (decrease) in net assets resulting from
operations |
3,715,444 |
19,178,079 |
(90,736,475
) |
95,894,921 |
|
| ||||
|
DISTRIBUTIONS
TO SHAREHOLDERS FROM: |
|
|
|
|
|
Investment
operations |
(851,551
) |
(2,031,982
) |
— |
(2,196,550
) |
|
| ||||
|
SHAREHOLDER
TRANSACTIONS: |
|
|
|
|
|
Proceeds
from shares sold |
14,600,834
|
16,012,269
|
139,004,475
|
99,842,452
|
|
Cost
of shares redeemed |
(17,098,002
) |
(24,481,480
) |
(46,864,911
) |
(37,312,661
) |
|
Net
increase (decrease) in net assets resulting from
shareholder
transactions |
(2,497,168
) |
(8,469,211
) |
92,139,564 |
62,529,791 |
|
Total
increase (decrease) in net assets |
366,725 |
8,676,886 |
1,403,089 |
156,228,162 |
|
| ||||
|
NET
ASSETS: |
|
|
|
|
|
Beginning
of period |
115,196,936 |
106,520,050 |
609,895,121 |
453,666,959 |
|
End
of period |
$115,563,661 |
$115,196,936 |
$611,298,210 |
$609,895,121 |
|
| ||||
|
CHANGES
IN SHARES OUTSTANDING: |
|
|
|
|
|
Shares
outstanding, beginning of period |
2,050,002 |
2,250,002 |
11,550,002 |
10,350,002 |
|
Shares
sold |
250,000 |
300,000 |
2,600,000 |
2,050,000 |
|
Shares
redeemed |
(300,000
) |
(500,000
) |
(900,000
) |
(850,000
) |
|
Shares
outstanding, end of period |
2,000,002 |
2,050,002 |
13,250,002 |
11,550,002 |
|
First Trust Dorsey
Wright Momentum
& Low
Volatility ETF (DVOL) |
First Trust Dorsey
Wright Momentum
& Value ETF
(DVLU) |
First Trust
International Developed
Capital
Strength® ETF
(FICS) | |||
|
Six Months
Ended
3/31/2026
(Unaudited) |
Year
Ended
9/30/2025 |
Six Months
Ended
3/31/2026
(Unaudited) |
Year
Ended
9/30/2025 |
Six Months
Ended
3/31/2026
(Unaudited) |
Year
Ended
9/30/2025 |
|
|
|
|
|
|
|
|
$281,785 |
$594,853 |
$103,314 |
$274,824 |
$1,503,442 |
$3,999,952 |
|
3,882,530 |
6,283,067 |
5,968,507 |
611,022 |
2,597,038 |
11,105,158 |
|
(5,368,704
) |
(2,212,180
) |
(5,928,977
) |
2,196,543 |
2,473,721 |
(7,025,354
) |
|
(1,204,389
) |
4,665,740 |
142,844 |
3,082,389 |
6,574,201 |
8,079,756 |
|
| |||||
|
|
|
|
|
|
|
|
(288,780
) |
(586,670
) |
(114,005
) |
(317,200
) |
(1,257,881
) |
(4,767,957
) |
|
| |||||
|
|
|
|
|
|
|
|
5,271,366
|
45,302,102
|
35,164,165
|
9,130,623
|
5,991,510
|
104,188,845
|
|
(24,959,930
) |
(10,403,952
) |
(27,732,666
) |
(10,652,662
) |
(11,846,106
) |
(50,048,873
) |
|
(19,688,564
) |
34,898,150 |
7,431,499 |
(1,522,039
) |
(5,854,596
) |
54,139,972 |
|
(21,181,733
) |
38,977,220 |
7,460,338 |
1,243,150 |
(538,276
) |
57,451,771 |
|
| |||||
|
|
|
|
|
|
|
|
90,365,947 |
51,388,727 |
33,605,410 |
32,362,260 |
214,423,696 |
156,971,925 |
|
$69,184,214 |
$90,365,947 |
$41,065,748 |
$33,605,410 |
$213,885,420 |
$214,423,696 |
|
| |||||
|
|
|
|
|
|
|
|
2,550,002 |
1,550,002 |
1,000,002 |
1,050,002 |
5,650,002 |
4,200,002 |
|
150,000 |
1,300,000 |
1,000,000 |
300,000 |
150,000 |
2,800,000 |
|
(700,000
) |
(300,000
) |
(800,000
) |
(350,000
) |
(300,000
) |
(1,350,000
) |
|
2,000,002 |
2,550,002 |
1,200,002 |
1,000,002 |
5,500,002 |
5,650,002 |
|
|
First Trust
S&P 500 Economic
Moat ETF
(EMOT) | |
|
|
Six Months
Ended
3/31/2026
(Unaudited) |
Year
Ended
9/30/2025 |
|
OPERATIONS: |
|
|
|
Net
investment income (loss) |
$23,998 |
$33,468 |
|
Net
realized gain (loss) |
566,461 |
270,281 |
|
Net
change in unrealized appreciation (depreciation) |
(585,630
) |
293,439 |
|
Net
increase (decrease) in net assets resulting from
operations |
4,829 |
597,188 |
|
| ||
|
DISTRIBUTIONS
TO SHAREHOLDERS FROM: |
|
|
|
Investment
operations |
(28,081
) |
(31,701
) |
|
| ||
|
SHAREHOLDER
TRANSACTIONS: |
|
|
|
Proceeds
from shares sold |
1,190,111
|
3,209,332
|
|
Cost
of shares redeemed |
(3,619,152
) |
(2,165,491
) |
|
Net
increase (decrease) in net assets resulting from shareholder
transactions |
(2,429,041
) |
1,043,841 |
|
Total
increase (decrease) in net assets |
(2,452,293
) |
1,609,328 |
|
| ||
|
NET
ASSETS: |
|
|
|
Beginning
of period |
4,792,267 |
3,182,939 |
|
End
of period |
$2,339,974 |
$4,792,267 |
|
| ||
|
CHANGES
IN SHARES OUTSTANDING: |
|
|
|
Shares
outstanding, beginning of period |
200,002 |
150,002 |
|
Shares
sold |
50,000 |
150,000 |
|
Shares
redeemed |
(150,000
) |
(100,000
) |
|
Shares
outstanding, end of period |
100,002 |
200,002 |
|
|
Six Months
Ended
3/31/2026
(Unaudited) |
Year
Ended September
30,
| ||||
|
|
2025 |
2024 |
2023 |
2022
|
2021
| |
|
Net
asset value, beginning of
period |
$98.57 |
$80.24 |
$56.07 |
$43.61 |
$56.42 |
$43.84 |
|
Income
from investment
operations: |
|
|
|
|
|
|
|
Net
investment income (loss)
|
0.72
(a) |
1.33
(a) |
1.26
(a) |
1.07
(a) |
1.24
|
1.10
|
|
Net
realized and unrealized gain
(loss) |
(4.84
) |
18.31
|
24.16
|
12.47
|
(12.83
) |
12.55
|
|
Total
from investment operations |
(4.12
) |
19.64
|
25.42
|
13.54
|
(11.59
) |
13.65
|
|
Distributions
paid to
shareholders
from: |
|
|
|
|
|
|
|
Net
investment income |
(0.81
) |
(1.31
) |
(1.25
) |
(1.08
) |
(1.22
) |
(1.07
) |
|
Net
asset value, end of period |
$93.64
|
$98.57
|
$80.24
|
$56.07
|
$43.61
|
$56.42
|
|
Total
return
(b) |
(4.19
)% |
24.78
% |
45.65
% |
31.22
% |
(20.93
)% |
31.29
% |
|
| ||||||
|
Ratios
to average net
assets/supplemental
data: |
|
|
|
|
|
|
|
Net
assets, end of period (in 000’s) |
$3,544,845
|
$3,755,982
|
$2,877,168
|
$1,940,169
|
$1,430,611
|
$1,613,767
|
|
Ratio
of total expenses to average
net
assets |
0.50
% (c) |
0.51
% (d) |
0.50
% |
0.50
% |
0.50
% |
0.50
% |
|
Ratio
of net investment income
(loss)
to average net assets |
1.48
% (c) |
1.60
% |
1.83
% |
2.02
% |
2.26
% |
2.08
% |
|
Portfolio
turnover rate (e) |
14
% |
24
% |
36
% |
43
% |
36
% |
38
% |
|
(a) |
Based
on average shares outstanding. |
|
(b) |
Total
return is calculated assuming an initial investment made at the net asset
value at the beginning of the period, reinvestment of all
distributions
at net asset value during the period, and redemption at net asset value on
the last day of the period. The returns presented do not
reflect
the deduction of taxes that a shareholder would pay on Fund distributions
or the redemption or sale of Fund shares. Total return is
calculated
for the time period presented and is not annualized for periods of less
than a year. |
|
(c) |
Annualized. |
|
(d) |
Includes
extraordinary expenses. If these extraordinary expenses were not included,
the expense ratio would have been 0.50%. |
|
(e) |
Portfolio
turnover is calculated for the time period presented and is not annualized
for periods of less than a year and does not include securities
received
or delivered from processing creations or redemptions and in-kind
transactions. |
|
|
Six Months
Ended
3/31/2026
(Unaudited) |
Year
Ended September
30,
| ||||
|
|
2025 |
2024 |
2023 |
2022
|
2021
| |
|
Net
asset value, beginning of period |
$16.03 |
$16.59 |
$14.60 |
$14.41 |
$16.35 |
$13.52 |
|
Income
from investment operations: |
|
|
|
|
|
|
|
Net
investment income (loss)
|
0.44
(a) |
0.76
(a) |
0.78
(a) |
0.77
(a) |
0.72
|
0.49
|
|
Net
realized and unrealized gain (loss) |
0.20
|
(0.30
) |
2.24
|
0.38
|
(1.67
) |
3.18
|
|
Total
from investment operations |
0.64
|
0.46
|
3.02
|
1.15
|
(0.95
) |
3.67
|
|
Distributions
paid to shareholders from: |
|
|
|
|
|
|
|
Net
investment income |
(0.53
) |
(1.02
) |
(1.03
) |
(0.73
) |
(0.97
) |
(0.64
) |
|
Return
of capital |
—
|
—
|
—
|
(0.23
) |
(0.02
) |
(0.20
) |
|
Total
distributions |
(0.53
) |
(1.02
) |
(1.03
) |
(0.96
) |
(0.99
) |
(0.84
) |
|
Net
asset value, end of period |
$16.14
|
$16.03
|
$16.59
|
$14.60
|
$14.41
|
$16.35
|
|
Total
return
(b) |
4.08
% |
2.90
% |
21.26
% |
8.05
% |
(6.25
)% |
27.50
% |
|
| ||||||
|
Ratios
to average net assets/supplemental
data: |
|
|
|
|
|
|
|
Net
assets, end of period (in 000’s) |
$394,661
|
$430,528
|
$439,538
|
$413,284
|
$446,101
|
$470,203
|
|
Ratio
of total expenses to average net
assets
(c) |
0.60
% (d) |
0.61
% (e) |
0.60
% |
0.60
% |
0.60
% |
0.60
% |
|
Ratio
of net expenses to average net assets (c) |
0.48
% (d) |
0.49
% (e) |
0.48
% |
0.48
% |
0.48
% |
0.48
% |
|
Ratio
of net investment income (loss) to
average
net assets (c) |
5.50
% (d) |
4.68
% |
5.01
% |
5.16
% |
4.40
% |
3.03
% |
|
Portfolio
turnover rate (f) |
29
% |
68
% |
73
% |
76
% |
85
% |
100
% |
|
(a) |
Based
on average shares outstanding. |
|
(b) |
Total
return is calculated assuming an initial investment made at the net asset
value at the beginning of the period, reinvestment of all
distributions
at net asset value during the period, and redemption at net asset value on
the last day of the period. The returns presented do not
reflect
the deduction of taxes that a shareholder would pay on Fund distributions
or the redemption or sale of Fund shares. Total return is
calculated
for the time period presented and is not annualized for periods of less
than a year. The total returns would have been lower if certain
fees
had not been waived by the investment advisor. |
|
(c) |
Ratios
of expenses to average net assets and ratio of net investment income
(loss) to average net assets do not reflect the Fund’s proportionate
share
of expenses and income of underlying investment companies in which the
Fund invests. |
|
(d) |
Annualized. |
|
(e) |
Includes
extraordinary expenses. If these extraordinary expenses were not included,
the total and net expense ratios would have been 0.60% and
0.48%,
respectively. |
|
(f) |
Portfolio
turnover is calculated for the time period presented and is not annualized
for periods of less than a year and does not include securities
received
or delivered from processing creations or redemptions and in-kind
transactions. |
|
|
Six Months
Ended
3/31/2026
(Unaudited) |
Year
Ended September
30,
| ||||
|
|
2025 |
2024 |
2023 |
2022
|
2021
| |
|
Net
asset value, beginning of period |
$19.65 |
$17.63 |
$14.66 |
$13.72 |
$17.56 |
$14.15 |
|
Income
from investment operations: |
|
|
|
|
|
|
|
Net
investment income (loss)
|
0.23
(a) |
0.73
(a) |
0.64
(a) |
0.75
(a) |
0.71
|
0.62
|
|
Net
realized and unrealized gain (loss) |
1.32
|
2.09
|
3.02
|
0.86
|
(3.85
) |
3.43
|
|
Total
from investment operations |
1.55
|
2.82
|
3.66
|
1.61
|
(3.14
) |
4.05
|
|
Distributions
paid to shareholders from: |
|
|
|
|
|
|
|
Net
investment income |
(0.35
) |
(0.80
) |
(0.69
) |
(0.67
) |
(0.70
) |
(0.64
) |
|
Net
asset value, end of period |
$20.85
|
$19.65
|
$17.63
|
$14.66
|
$13.72
|
$17.56
|
|
Total
return
(b) |
7.92
% |
16.39
% |
25.48
% |
11.60
% |
(18.39
)% |
28.79
% |
|
| ||||||
|
Ratios
to average net assets/supplemental data: |
|
|
|
|
|
|
|
Net
assets, end of period (in 000’s) |
$152,191
|
$120,824
|
$82,871
|
$71,815
|
$43,912
|
$42,139
|
|
Ratio
of total expenses to average net assets |
0.60
% (c) |
0.61
% (d) |
0.60
% |
0.60
% |
0.60
% |
0.60
% |
|
Ratio
of net investment income (loss) to average
net
assets |
2.22
% (c) |
4.10
% |
4.05
% |
4.84
% |
4.39
% |
4.10
% |
|
Portfolio
turnover rate (e) |
40
% |
51
% |
57
% |
63
% |
47
% |
57
% |
|
(a) |
Based
on average shares outstanding. |
|
(b) |
Total
return is calculated assuming an initial investment made at the net asset
value at the beginning of the period, reinvestment of all
distributions
at net asset value during the period, and redemption at net asset value on
the last day of the period. The returns presented do not
reflect
the deduction of taxes that a shareholder would pay on Fund distributions
or the redemption or sale of Fund shares. Total return is
calculated
for the time period presented and is not annualized for periods of less
than a year. |
|
(c) |
Annualized. |
|
(d) |
Includes
extraordinary expenses. If these extraordinary expenses were not included,
the expense ratio would have been 0.60%. |
|
(e) |
Portfolio
turnover is calculated for the time period presented and is not annualized
for periods of less than a year and does not include securities
received
or delivered from processing creations or redemptions and in-kind
transactions. |
|
|
Six Months
Ended
3/31/2026
(Unaudited) |
Year
Ended September
30,
| ||||
|
|
2025 |
2024 |
2023 |
2022
|
2021
| |
|
Net
asset value, beginning of
period |
$67.26 |
$59.20 |
$45.93 |
$38.83 |
$47.47 |
$32.67 |
|
Income
from investment
operations: |
|
|
|
|
|
|
|
Net
investment income (loss)
|
0.39
(a) |
0.85
(a) |
1.01
(a) |
1.08
(a) |
0.82
|
0.59
|
|
Net
realized and unrealized gain
(loss) |
1.01
|
8.08
|
13.28
|
7.13
|
(8.70
) |
14.79
|
|
Total
from investment
operations |
1.40
|
8.93
|
14.29
|
8.21
|
(7.88
) |
15.38
|
|
Distributions
paid to
shareholders
from: |
|
|
|
|
|
|
|
Net
investment income |
(0.38
) |
(0.87
) |
(1.02
) |
(1.11
) |
(0.76
) |
(0.58
) |
|
Net
asset value, end of period |
$68.28
|
$67.26
|
$59.20
|
$45.93
|
$38.83
|
$47.47
|
|
Total
return
(b) |
2.08
% |
15.25
% |
31.31
% |
21.22
% |
(16.76
)% |
47.21
% |
|
| ||||||
|
Ratios
to average net
assets/supplemental
data: |
|
|
|
|
|
|
|
Net
assets, end of period (in
000’s) |
$19,852,768
|
$17,249,820
|
$12,091,412
|
$7,930,629
|
$7,290,775
|
$5,739,655
|
|
Ratio
of total expenses to
average
net assets |
0.46
% (c) |
0.48
% |
0.48
% |
0.49
% |
0.50
% |
0.50
% |
|
Ratio
of net investment income
(loss)
to average net assets |
1.11
% (c) |
1.38
% |
1.91
% |
2.36
% |
1.85
% |
1.43
% |
|
Portfolio
turnover rate (d) |
21
% |
69
% |
57
% |
57
% |
59
% |
45
% |
|
(a) |
Based
on average shares outstanding. |
|
(b) |
Total
return is calculated assuming an initial investment made at the net asset
value at the beginning of the period, reinvestment of all
distributions
at net asset value during the period, and redemption at net asset value on
the last day of the period. The returns presented do not
reflect
the deduction of taxes that a shareholder would pay on Fund distributions
or the redemption or sale of Fund shares. Total return is
calculated
for the time period presented and is not annualized for periods of less
than a year. |
|
(c) |
Annualized. |
|
(d) |
Portfolio
turnover is calculated for the time period presented and is not annualized
for periods of less than a year and does not include securities
received
or delivered from processing creations or redemptions and in-kind
transactions. |
|
|
Six Months
Ended
3/31/2026
(Unaudited) |
Year
Ended September
30,
| ||||
|
|
2025 |
2024 |
2023 |
2022
|
2021
| |
|
Net
asset value, beginning of
period |
$61.92 |
$58.21 |
$44.22 |
$41.09 |
$45.78 |
$34.10 |
|
Income
from investment
operations: |
|
|
|
|
|
|
|
Net
investment income (loss)
|
0.20
(a) |
0.30
(a) |
0.09
(a) |
0.41
(a) |
0.46
|
0.02
|
|
Net
realized and unrealized gain
(loss) |
(1.48
) |
3.71
|
13.99
|
3.15
|
(4.71
) |
11.68
|
|
Total
from investment operations |
(1.28
) |
4.01
|
14.08
|
3.56
|
(4.25
) |
11.70
|
|
Distributions
paid to
shareholders
from: |
|
|
|
|
|
|
|
Net
investment income |
(0.19
) |
(0.30
) |
(0.09
) |
(0.43
) |
(0.44
) |
(0.02
) |
|
Net
asset value, end of period |
$60.45
|
$61.92
|
$58.21
|
$44.22
|
$41.09
|
$45.78
|
|
Total
return
(b) |
(2.08
)% |
6.91
% |
31.86
% |
8.63
% |
(9.32
)% |
34.31
% |
|
| ||||||
|
Ratios
to average net
assets/supplemental
data: |
|
|
|
|
|
|
|
Net
assets, end of period (in 000’s) |
$3,236,878
|
$3,708,959
|
$3,777,592
|
$3,100,064
|
$2,592,805
|
$2,694,187
|
|
Ratio
of total expenses to average
net
assets (c) |
0.30
% (d) |
0.30
% |
0.30
% |
0.30
% |
0.30
% |
0.30
% |
|
Ratio
of net investment income
(loss)
to average net assets (c) |
0.63
% (d) |
0.50
% |
0.16
% |
0.88
% |
1.01
% |
0.04
% |
|
Portfolio
turnover rate (e) |
121
% |
60
% |
0
% |
103
% |
81
% |
20
% |
|
(a) |
Based
on average shares outstanding. |
|
(b) |
Total
return is calculated assuming an initial investment made at the net asset
value at the beginning of the period, reinvestment of all
distributions
at net asset value during the period, and redemption at net asset value on
the last day of the period. The returns presented do not
reflect
the deduction of taxes that a shareholder would pay on Fund distributions
or the redemption or sale of Fund shares. Total return is
calculated
for the time period presented and is not annualized for periods of less
than a year. |
|
(c) |
Ratio
of total expenses to average net assets and ratio of net investment income
(loss) to average net assets do not reflect the Fund’s
proportionate
share of expenses and income of underlying investment companies in which
the Fund invests. |
|
(d) |
Annualized. |
|
(e) |
Portfolio
turnover is calculated for the time period presented and is not annualized
for periods of less than a year and does not include securities
received
or delivered from processing creations or redemptions and in-kind
transactions. |
|
|
Six Months
Ended
3/31/2026
(Unaudited) |
Year
Ended September
30,
| ||||
|
|
2025 |
2024 |
2023 |
2022
|
2021
| |
|
Net
asset value, beginning of period |
$40.18 |
$36.76 |
$27.77 |
$26.84 |
$31.09 |
$21.06 |
|
Income
from investment operations: |
|
|
|
|
|
|
|
Net
investment income (loss)
|
0.34
(a) |
0.77
(a) |
0.87
(a) |
1.08
(a) |
0.88
|
0.73
|
|
Net
realized and unrealized gain (loss) |
0.32
|
3.46
|
9.02
|
0.93
|
(4.22
) |
10.01
|
|
Total
from investment operations |
0.66
|
4.23
|
9.89
|
2.01
|
(3.34
) |
10.74
|
|
Distributions
paid to shareholders from: |
|
|
|
|
|
|
|
Net
investment income |
(0.38
) |
(0.81
) |
(0.90
) |
(1.08
) |
(0.91
) |
(0.71
) |
|
Net
asset value, end of period |
$40.46
|
$40.18
|
$36.76
|
$27.77
|
$26.84
|
$31.09
|
|
Total
return
(b) |
1.62
% |
11.63
% |
36.01
% |
7.48
% |
(11.08
)% |
51.29
% |
|
| ||||||
|
Ratios
to average net assets/supplemental data: |
|
|
|
|
|
|
|
Net
assets, end of period (in 000’s) |
$62,720
|
$66,304
|
$60,661
|
$41,659
|
$67,100
|
$38,863
|
|
Ratio
of total expenses to average net assets |
0.60
% (c) |
0.61
% (d) |
0.60
% |
0.60
% |
0.60
% |
0.60
% |
|
Ratio
of net investment income (loss) to average net
assets |
1.65
% (c) |
2.00
% |
2.71
% |
3.75
% |
3.00
% |
2.54
% |
|
Portfolio
turnover rate (e) |
99
% |
157
% |
173
% |
197
% |
172
% |
186
% |
|
(a) |
Based
on average shares outstanding. |
|
(b) |
Total
return is calculated assuming an initial investment made at the net asset
value at the beginning of the period, reinvestment of all
distributions
at net asset value during the period, and redemption at net asset value on
the last day of the period. The returns presented do not
reflect
the deduction of taxes that a shareholder would pay on Fund distributions
or the redemption or sale of Fund shares. Total return is
calculated
for the time period presented and is not annualized for periods of less
than a year. |
|
(c) |
Annualized. |
|
(d) |
Includes
extraordinary expenses. If these extraordinary expenses were not included,
the expense ratio would have been 0.60%. |
|
(e) |
Portfolio
turnover is calculated for the time period presented and is not annualized
for periods of less than a year and does not include securities
received
or delivered from processing creations or redemptions and in-kind
transactions. |
|
|
Six Months
Ended
3/31/2026
(Unaudited) |
Year
Ended September
30,
| ||||
|
|
2025 |
2024 |
2023 |
2022
|
2021
| |
|
Net
asset value, beginning of period |
$96.70 |
$74.57 |
$51.58 |
$38.20 |
$40.84 |
$25.68 |
|
Income
from investment operations: |
|
|
|
|
|
|
|
Net
investment income (loss)
|
0.07
(a) |
0.21
(a) |
0.13
(a) |
0.15
(a) |
0.04
|
0.03
|
|
Net
realized and unrealized gain (loss) |
14.16
|
22.13
|
22.99
|
13.37
|
(2.66
) |
15.16
|
|
Total
from investment operations |
14.23
|
22.34
|
23.12
|
13.52
|
(2.62
) |
15.19
|
|
Distributions
paid to shareholders
from: |
|
|
|
|
|
|
|
Net
investment income |
(0.09
) |
(0.21
) |
(0.13
) |
(0.14
) |
(0.02
) |
(0.03
) |
|
Net
asset value, end of period |
$110.84
|
$96.70
|
$74.57
|
$51.58
|
$38.20
|
$40.84
|
|
Total
return
(b) |
14.72
% |
30.04
% |
44.86
% |
35.41
% |
(6.41
)% |
59.15
% |
|
| ||||||
|
Ratios
to average net
assets/supplemental
data: |
|
|
|
|
|
|
|
Net
assets, end of period (in 000’s) |
$8,385,010
|
$5,584,361
|
$1,692,645
|
$497,748
|
$169,984
|
$220,549
|
|
Ratio
of total expenses to average net
assets |
0.68
% (c) |
0.70
% |
0.70
% |
0.70
% |
0.70
% |
0.70
% |
|
Ratio
of net investment income (loss) to
average
net assets |
0.14
% (c) |
0.26
% |
0.20
% |
0.30
% |
0.10
% |
0.07
% |
|
Portfolio
turnover rate (d) |
20
% |
60
% |
75
% |
48
% |
37
% |
35
% |
|
(a) |
Based
on average shares outstanding. |
|
(b) |
Total
return is calculated assuming an initial investment made at the net asset
value at the beginning of the period, reinvestment of all
distributions
at net asset value during the period, and redemption at net asset value on
the last day of the period. The returns presented do not
reflect
the deduction of taxes that a shareholder would pay on Fund distributions
or the redemption or sale of Fund shares. Total return is
calculated
for the time period presented and is not annualized for periods of less
than a year. |
|
(c) |
Annualized. |
|
(d) |
Portfolio
turnover is calculated for the time period presented and is not annualized
for periods of less than a year and does not include securities
received
or delivered from processing creations or redemptions and in-kind
transactions. |
|
|
Six Months
Ended
3/31/2026
(Unaudited) |
Year
Ended September
30,
| ||||
|
|
2025 |
2024 |
2023 |
2022
|
2021
| |
|
Net
asset value, beginning of period |
$24.50 |
$21.04 |
$17.81 |
$16.09 |
$22.74 |
$18.83 |
|
Income
from investment operations: |
|
|
|
|
|
|
|
Net
investment income (loss)
|
0.14
(a) |
0.54
(a) |
0.43
(a) |
0.58
(a) |
0.64
|
0.20
|
|
Net
realized and unrealized gain (loss) |
0.76
|
3.44
|
3.23
|
1.67
|
(6.66
) |
3.93
|
|
Total
from investment operations |
0.90
|
3.98
|
3.66
|
2.25
|
(6.02
) |
4.13
|
|
Distributions
paid to shareholders from: |
|
|
|
|
|
|
|
Net
investment income |
(0.16
) |
(0.52
) |
(0.43
) |
(0.53
) |
(0.63
) |
(0.22
) |
|
Net
asset value, end of period |
$25.24
|
$24.50
|
$21.04
|
$17.81
|
$16.09
|
$22.74
|
|
Total
return
(b) |
3.68
% |
19.28
% |
20.76
% |
14.03
% |
(26.89
)% |
21.91
% |
|
| ||||||
|
Ratios
to average net assets/supplemental
data: |
|
|
|
|
|
|
|
Net
assets, end of period (in 000’s) |
$220,891
|
$175,164
|
$198,832
|
$229,797
|
$139,212
|
$264,970
|
|
Ratio
of total expenses to average net
assets
(c) |
0.30
% (d) |
0.31
% (e) |
0.30
% |
0.30
% |
0.30
% |
0.30
% |
|
Ratio
of net investment income (loss) to
average
net assets (c) |
1.11
% (d) |
2.57
% |
2.22
% |
3.29
% |
2.92
% |
0.87
% |
|
Portfolio
turnover rate (f) |
37
% |
80
% |
42
% |
65
% |
104
% |
66
% |
|
(a) |
Based
on average shares outstanding. |
|
(b) |
Total
return is calculated assuming an initial investment made at the net asset
value at the beginning of the period, reinvestment of all
distributions
at net asset value during the period, and redemption at net asset value on
the last day of the period. The returns presented do not
reflect
the deduction of taxes that a shareholder would pay on Fund distributions
or the redemption or sale of Fund shares. Total return is
calculated
for the time period presented and is not annualized for periods of less
than a year. |
|
(c) |
Ratio
of total expenses to average net assets and ratio of net investment income
(loss) to average net assets do not reflect the Fund’s
proportionate
share of expenses and income of underlying investment companies in which
the Fund invests. |
|
(d) |
Annualized. |
|
(e) |
Includes
extraordinary expenses. If these extraordinary expenses were not included,
the expense ratio would have been 0.30%. |
|
(f) |
Portfolio
turnover is calculated for the time period presented and is not annualized
for periods of less than a year and does not include securities
received
or delivered from processing creations or redemptions and in-kind
transactions. |
|
|
Six Months
Ended
3/31/2026
(Unaudited) |
Year
Ended September
30,
| ||||
|
|
2025 |
2024 |
2023 |
2022
|
2021
| |
|
Net
asset value, beginning of period |
$36.08 |
$35.92 |
$31.29 |
$33.40 |
$35.14 |
$26.17 |
|
Income
from investment operations: |
|
|
|
|
|
|
|
Net
investment income (loss)
|
0.18
(a) |
0.68
(a) |
0.49
(a) |
0.64
(a) |
0.31
|
0.01
|
|
Net
realized and unrealized gain (loss) |
(1.10
) |
0.12
|
4.64
|
(2.10
) |
(1.77
) |
8.97
|
|
Total
from investment operations |
(0.92
) |
0.80
|
5.13
|
(1.46
) |
(1.46
) |
8.98
|
|
Distributions
paid to shareholders from: |
|
|
|
|
|
|
|
Net
investment income |
(0.32
) |
(0.64
) |
(0.50
) |
(0.65
) |
(0.28
) |
(0.01
) |
|
Net
asset value, end of period |
$34.84
|
$36.08
|
$35.92
|
$31.29
|
$33.40
|
$35.14
|
|
Total
return
(b) |
(2.58
)% |
2.26
% |
16.48
% |
(4.49
)% |
(4.18
)% |
34.32
% |
|
| ||||||
|
Ratios
to average net assets/supplemental
data: |
|
|
|
|
|
|
|
Net
assets, end of period (in 000’s) |
$95,809
|
$111,839
|
$154,439
|
$203,399
|
$230,480
|
$212,609
|
|
Ratio
of total expenses to average net
assets
(c) |
0.30
% (d) |
0.31
% (e) |
0.30
% |
0.30
% |
0.30
% |
0.30
% |
|
Ratio
of net investment income (loss) to
average
net assets (c) |
0.99
% (d) |
1.88
% |
1.48
% |
1.87
% |
0.91
% |
0.02
% |
|
Portfolio
turnover rate (f) |
156
% |
168
% |
200
% |
294
% |
164
% |
20
% |
|
(a) |
Based
on average shares outstanding. |
|
(b) |
Total
return is calculated assuming an initial investment made at the net asset
value at the beginning of the period, reinvestment of all
distributions
at net asset value during the period, and redemption at net asset value on
the last day of the period. The returns presented do not
reflect
the deduction of taxes that a shareholder would pay on Fund distributions
or the redemption or sale of Fund shares. Total return is
calculated
for the time period presented and is not annualized for periods of less
than a year. |
|
(c) |
Ratio
of total expenses to average net assets and ratio of net investment income
(loss) to average net assets do not reflect the Fund’s
proportionate
share of expenses and income of underlying investment companies in which
the Fund invests. |
|
(d) |
Annualized. |
|
(e) |
Includes
extraordinary expenses. If these extraordinary expenses were not included,
the expense ratio would have been 0.30%. |
|
(f) |
Portfolio
turnover is calculated for the time period presented and is not annualized
for periods of less than a year and does not include securities
received
or delivered from processing creations or redemptions and in-kind
transactions. |
|
|
Six Months
Ended
3/31/2026
(Unaudited) |
Year
Ended September
30,
| ||||
|
|
2025 |
2024 |
2023 |
2022
|
2021
| |
|
Net
asset value, beginning of period |
$38.00 |
$36.37 |
$28.22 |
$23.09 |
$28.28 |
$18.27 |
|
Income
from investment
operations: |
|
|
|
|
|
|
|
Net
investment income (loss)
|
0.23
(a) |
0.55
(a) |
0.66
(a) |
0.70
(a) |
0.51
|
0.36
|
|
Net
realized and unrealized gain (loss) |
1.41
|
1.63
|
8.07
|
5.10
|
(5.21
) |
9.99
|
|
Total
from investment operations |
1.64
|
2.18
|
8.73
|
5.80
|
(4.70
) |
10.35
|
|
Distributions
paid to shareholders
from: |
|
|
|
|
|
|
|
Net
investment income |
(0.23
) |
(0.55
) |
(0.58
) |
(0.67
) |
(0.49
) |
(0.34
) |
|
Net
asset value, end of period |
$39.41
|
$38.00
|
$36.37
|
$28.22
|
$23.09
|
$28.28
|
|
Total
return
(b) |
4.32
% |
6.12
% |
31.07
% |
25.25
% |
(16.78
)% |
56.77
% |
|
| ||||||
|
Ratios
to average net
assets/supplemental
data: |
|
|
|
|
|
|
|
Net
assets, end of period (in 000’s) |
$10,101,459
|
$8,959,493
|
$6,122,084
|
$1,468,953
|
$819,621
|
$210,673
|
|
Ratio
of total expenses to average net
assets |
0.58
% (c) |
0.59
% |
0.59
% |
0.60
% |
0.60
% |
0.60
% |
|
Ratio
of net investment income (loss)
to
average net assets |
1.16
% (c) |
1.55
% |
1.99
% |
2.56
% |
2.25
% |
1.77
% |
|
Portfolio
turnover rate (d) |
19
% |
85
% |
64
% |
58
% |
86
% |
36
% |
|
(a) |
Based
on average shares outstanding. |
|
(b) |
Total
return is calculated assuming an initial investment made at the net asset
value at the beginning of the period, reinvestment of all
distributions
at net asset value during the period, and redemption at net asset value on
the last day of the period. The returns presented do not
reflect
the deduction of taxes that a shareholder would pay on Fund distributions
or the redemption or sale of Fund shares. Total return is
calculated
for the time period presented and is not annualized for periods of less
than a year. |
|
(c) |
Annualized. |
|
(d) |
Portfolio
turnover is calculated for the time period presented and is not annualized
for periods of less than a year and does not include securities
received
or delivered from processing creations or redemptions and in-kind
transactions. |
|
|
Six Months
Ended
3/31/2026
(Unaudited) |
Year
Ended September
30,
| ||||
|
|
2025 |
2024 |
2023 |
2022
|
2021
| |
|
Net
asset value, beginning of period |
$56.19 |
$47.34 |
$37.00 |
$30.34 |
$42.07 |
$31.32 |
|
Income
from investment operations: |
|
|
|
|
|
|
|
Net
investment income (loss)
|
0.45
(a) |
1.04
(a) |
1.03
(a) |
0.93
(a) |
1.15
|
0.61
|
|
Net
realized and unrealized gain (loss) |
1.55
|
8.86
|
10.37
|
6.70
|
(11.75
) |
10.70
|
|
Total
from investment operations |
2.00
|
9.90
|
11.40
|
7.63
|
(10.60
) |
11.31
|
|
Distributions
paid to shareholders from: |
|
|
|
|
|
|
|
Net
investment income |
(0.41
) |
(1.05
) |
(1.06
) |
(0.97
) |
(1.13
) |
(0.56
) |
|
Net
asset value, end of period |
$57.78
|
$56.19
|
$47.34
|
$37.00
|
$30.34
|
$42.07
|
|
Total
return
(b) |
3.54
% |
21.13
% |
31.08
% |
25.13
% |
(25.55
)% |
36.13
% |
|
| ||||||
|
Ratios
to average net assets/supplemental
data: |
|
|
|
|
|
|
|
Net
assets, end of period (in 000’s) |
$115,564
|
$115,197
|
$106,520
|
$94,343
|
$100,130
|
$132,512
|
|
Ratio
of total expenses to average net assets |
0.65
% (c) |
0.66
% (d) |
0.65
% |
0.65
% |
0.65
% |
0.65
% |
|
Ratio
of net investment income (loss) to
average
net assets |
1.52
% (c) |
2.07
% |
2.47
% |
2.55
% |
2.94
% |
1.84
% |
|
Portfolio
turnover rate (e) |
10
% |
15
% |
17
% |
17
% |
23
% |
46
% |
|
(a) |
Based
on average shares outstanding. |
|
(b) |
Total
return is calculated assuming an initial investment made at the net asset
value at the beginning of the period, reinvestment of all
distributions
at net asset value during the period, and redemption at net asset value on
the last day of the period. The returns presented do not
reflect
the deduction of taxes that a shareholder would pay on Fund distributions
or the redemption or sale of Fund shares. Total return is
calculated
for the time period presented and is not annualized for periods of less
than a year. |
|
(c) |
Annualized. |
|
(d) |
Includes
extraordinary expenses. If these extraordinary expenses were not included,
the expense ratio would have been 0.65%. |
|
(e) |
Portfolio
turnover is calculated for the time period presented and is not annualized
for periods of less than a year and does not include securities
received
or delivered from processing creations or redemptions and in-kind
transactions. |
|
|
Six Months
Ended
3/31/2026
(Unaudited) |
Year
Ended September
30,
| ||||
|
|
2025 |
2024 |
2023 |
2022
|
2021
| |
|
Net
asset value, beginning of period |
$52.80 |
$43.83 |
$40.42 |
$33.64 |
$53.30 |
$38.89 |
|
Income
from investment operations: |
|
|
|
|
|
|
|
Net
investment income (loss)
|
(0.01
) (a) |
0.15
(a) |
0.12
(a) |
0.13
(a) |
0.08
|
0.05
|
|
Net
realized and unrealized gain (loss) |
(6.65
) |
9.04
|
3.40
|
6.78
|
(19.67
) (b) |
14.44
|
|
Total
from investment operations |
(6.66
) |
9.19
|
3.52
|
6.91
|
(19.59
) |
14.49
|
|
Distributions
paid to shareholders from: |
|
|
|
|
|
|
|
Net
investment income |
—
|
(0.22
) |
(0.11
) |
(0.13
) |
(0.07
) |
(0.08
) |
|
Net
asset value, end of period |
$46.14
|
$52.80
|
$43.83
|
$40.42
|
$33.64
|
$53.30
|
|
Total
return
(c) |
(12.61
)% |
21.06
% |
8.75
% |
20.51
% |
(36.76
)% (b) |
37.27
% |
|
| ||||||
|
Ratios
to average net assets/supplemental
data: |
|
|
|
|
|
|
|
Net
assets, end of period (in 000’s) |
$611,298
|
$609,895
|
$453,667
|
$416,276
|
$173,248
|
$266,492
|
|
Ratio
of total expenses to average net assets |
0.65
% (d) |
0.66
% (e) |
0.65
% |
0.65
% |
0.65
% |
0.65
% |
|
Ratio
of net investment income (loss) to
average
net assets |
(0.04
)% (d) |
0.33
% |
0.28
% |
0.33
% |
0.17
% |
0.10
% |
|
Portfolio
turnover rate (f) |
23
% |
52
% |
43
% |
46
% |
36
% |
31
% |
|
(a) |
Based
on average shares outstanding. |
|
(b) |
The
Fund received a reimbursement from the advisor in the amount of $1,987 in
connection with a trade error, which represents less than $0.01
per
share. Since the advisor reimbursed the Fund, there was no effect on the
Fund’s total return. |
|
(c) |
Total
return is calculated assuming an initial investment made at the net asset
value at the beginning of the period, reinvestment of all
distributions
at net asset value during the period, and redemption at net asset value on
the last day of the period. The returns presented do not
reflect
the deduction of taxes that a shareholder would pay on Fund distributions
or the redemption or sale of Fund shares. Total return is
calculated
for the time period presented and is not annualized for periods of less
than a year. |
|
(d) |
Annualized. |
|
(e) |
Includes
extraordinary expenses. If these extraordinary expenses were not included,
the expense ratio would have been 0.65%. |
|
(f) |
Portfolio
turnover is calculated for the time period presented and is not annualized
for periods of less than a year and does not include securities
received
or delivered from processing creations or redemptions and in-kind
transactions. |
|
|
Six Months
Ended
3/31/2026
(Unaudited) |
Year
Ended September
30,
| ||||
|
|
2025 |
2024 |
2023 |
2022
|
2021
| |
|
Net
asset value, beginning of period |
$35.44 |
$33.15 |
$24.96 |
$23.96 |
$27.53 |
$22.46 |
|
Income
from investment operations: |
|
|
|
|
|
|
|
Net
investment income (loss)
|
0.13
(a) |
0.32
(a) |
0.20
(a) |
0.34
(a) |
0.32
|
0.10
|
|
Net
realized and unrealized gain (loss) |
(0.85
) |
2.28
|
8.24
|
1.02
|
(3.60
) |
5.06
|
|
Total
from investment operations |
(0.72
) |
2.60
|
8.44
|
1.36
|
(3.28
) |
5.16
|
|
Distributions
paid to shareholders from: |
|
|
|
|
|
|
|
Net
investment income |
(0.13
) |
(0.31
) |
(0.25
) |
(0.36
) |
(0.29
) |
(0.09
) |
|
Net
asset value, end of period |
$34.59
|
$35.44
|
$33.15
|
$24.96
|
$23.96
|
$27.53
|
|
Total
return
(b) |
(2.03
)% |
7.86
% |
33.95
% |
5.64
% |
(12.02
)% |
22.98
% |
|
| ||||||
|
Ratios
to average net assets/supplemental data: |
|
|
|
|
|
|
|
Net
assets, end of period (in 000’s) |
$69,184
|
$90,366
|
$51,389
|
$57,405
|
$81,454
|
$121,114
|
|
Ratio
of total expenses to average net assets |
0.60
% (c) |
0.61
% (d) |
0.60
% |
0.60
% |
0.60
% |
0.60
% |
|
Ratio
of net investment income (loss) to average
net
assets |
0.71
% (c) |
0.93
% |
0.68
% |
1.33
% |
1.04
% |
0.36
% |
|
Portfolio
turnover rate (e) |
125
% |
152
% |
122
% |
150
% |
169
% |
136
% |
|
(a) |
Based
on average shares outstanding. |
|
(b) |
Total
return is calculated assuming an initial investment made at the net asset
value at the beginning of the period, reinvestment of all
distributions
at net asset value during the period, and redemption at net asset value on
the last day of the period. The returns presented do not
reflect
the deduction of taxes that a shareholder would pay on Fund distributions
or the redemption or sale of Fund shares. Total return is
calculated
for the time period presented and is not annualized for periods of less
than a year. |
|
(c) |
Annualized. |
|
(d) |
Includes
extraordinary expenses. If these extraordinary expenses were not included,
the expense ratio would have been 0.60%. |
|
(e) |
Portfolio
turnover is calculated for the time period presented and is not annualized
for periods of less than a year and does not include securities
received
or delivered from processing creations or redemptions and in-kind
transactions. |
|
|
Six Months
Ended
3/31/2026
(Unaudited) |
Year
Ended September
30,
| ||||
|
|
2025 |
2024 |
2023 |
2022
|
2021
| |
|
Net
asset value, beginning of period |
$33.61 |
$30.82 |
$22.83 |
$20.39 |
$23.51 |
$15.07 |
|
Income
from investment operations: |
|
|
|
|
|
|
|
Net
investment income (loss)
|
0.10
(a) |
0.27
(a) |
0.35
(a) |
0.40
(a) |
0.40
|
0.29
|
|
Net
realized and unrealized gain (loss) |
0.62
|
2.84
|
7.95
|
2.45
|
(3.11
) |
8.42
|
|
Total
from investment operations |
0.72
|
3.11
|
8.30
|
2.85
|
(2.71
) |
8.71
|
|
Distributions
paid to shareholders from: |
|
|
|
|
|
|
|
Net
investment income |
(0.11
) |
(0.32
) |
(0.31
) |
(0.41
) |
(0.41
) |
(0.27
) |
|
Net
asset value, end of period |
$34.22
|
$33.61
|
$30.82
|
$22.83
|
$20.39
|
$23.51
|
|
Total
return
(b) |
2.14
% |
10.21
% |
36.49
% |
14.03
% |
(11.71
)% |
57.98
% |
|
| ||||||
|
Ratios
to average net assets/supplemental data: |
|
|
|
|
|
|
|
Net
assets, end of period (in 000’s) |
$41,066
|
$33,605
|
$32,362
|
$20,547
|
$19,369
|
$25,864
|
|
Ratio
of total expenses to average net assets |
0.60
% (c) |
0.61
% (d) |
0.60
% |
0.60
% |
0.60
% |
0.60
% |
|
Ratio
of net investment income (loss) to average net
assets |
0.55
% (c) |
0.91
% |
1.27
% |
1.75
% |
1.64
% |
1.68
% |
|
Portfolio
turnover rate (e) |
91
% |
187
% |
155
% |
223
% |
230
% |
195
% |
|
(a) |
Based
on average shares outstanding. |
|
(b) |
Total
return is calculated assuming an initial investment made at the net asset
value at the beginning of the period, reinvestment of all
distributions
at net asset value during the period, and redemption at net asset value on
the last day of the period. The returns presented do not
reflect
the deduction of taxes that a shareholder would pay on Fund distributions
or the redemption or sale of Fund shares. Total return is
calculated
for the time period presented and is not annualized for periods of less
than a year. |
|
(c) |
Annualized. |
|
(d) |
Includes
extraordinary expenses. If these extraordinary expenses were not included,
the expense ratio would have been 0.60%. |
|
(e) |
Portfolio
turnover is calculated for the time period presented and is not annualized
for periods of less than a year and does not include securities
received
or delivered from processing creations or redemptions and in-kind
transactions. |
|
|
Six Months
Ended
3/31/2026
(Unaudited) |
Year
Ended September
30,
|
Period
Ended
9/30/2021
(a) | |||
|
|
2025 |
2024 |
2023 |
2022
| ||
|
Net
asset value, beginning of period |
$37.95 |
$37.37 |
$30.10 |
$25.86 |
$34.04 |
$30.09 |
|
Income
from investment operations: |
|
|
|
|
|
|
|
Net
investment income (loss)
|
0.27
(b) |
0.79
(b) |
0.55
(b) |
0.45
(b) |
0.57
|
0.36
|
|
Net
realized and unrealized gain (loss) |
0.90
|
0.69
|
7.28
|
4.15
|
(8.16
) |
3.93
|
|
Total
from investment operations |
1.17
|
1.48
|
7.83
|
4.60
|
(7.59
) |
4.29
|
|
Distributions
paid to shareholders from: |
|
|
|
|
|
|
|
Net
investment income |
(0.23
) |
(0.90
) |
(0.56
) |
(0.36
) |
(0.59
) |
(0.34
) |
|
Net
asset value, end of period |
$38.89
|
$37.95
|
$37.37
|
$30.10
|
$25.86
|
$34.04
|
|
Total
return
(c) |
3.08
% |
4.00
% |
26.15
% |
17.74
% |
(22.50
)% |
14.25
% |
|
| ||||||
|
Ratios
to average net assets/supplemental
data: |
|
|
|
|
|
|
|
Net
assets, end of period (in 000’s) |
$213,885
|
$214,424
|
$156,972
|
$69,230
|
$19,396
|
$10,213
|
|
Ratio
of total expenses to average net assets |
0.70
% (d) |
0.71
% (e) |
0.70
% |
0.70
% |
0.70
% |
0.70
% (d) |
|
Ratio
of net investment income (loss) to
average
net assets |
1.37
% (d) |
2.11
% |
1.62
% |
1.47
% |
2.10
% |
1.29
% (d) |
|
Portfolio
turnover rate (f) |
37
% |
51
% |
58
% |
59
% |
77
% |
23
% |
|
(a) |
Inception
date is December 15, 2020, which is consistent with the commencement of
investment operations and is the date the initial creation
units
were established. |
|
(b) |
Based
on average shares outstanding. |
|
(c) |
Total
return is calculated assuming an initial investment made at the net asset
value at the beginning of the period, reinvestment of all
distributions
at net asset value during the period, and redemption at net asset value on
the last day of the period. The returns presented do not
reflect
the deduction of taxes that a shareholder would pay on Fund distributions
or the redemption or sale of Fund shares. Total return is
calculated
for the time period presented and is not annualized for periods of less
than a year. |
|
(d) |
Annualized. |
|
(e) |
Includes
extraordinary expenses. If these extraordinary expenses were not included,
the expense ratio would have been 0.70%. |
|
(f) |
Portfolio
turnover is calculated for the time period presented and is not annualized
for periods of less than a year and does not include securities
received
or delivered from processing creations or redemptions and in-kind
transactions. |
|
|
Six Months
Ended
3/31/2026
(Unaudited) |
Year
Ended
9/30/2025 |
Period
Ended
9/30/2024
(a) |
|
| |||
|
Net
asset value, beginning of period |
$23.96 |
$21.22 |
$19.97 |
|
Income
from investment operations: |
|
|
|
|
Net
investment income (loss) (b) |
0.15
|
0.18
|
0.04
|
|
Net
realized and unrealized gain (loss) |
(0.53
) |
2.74
|
1.21
|
|
Total
from investment operations |
(0.38
) |
2.92
|
1.25
|
|
Distributions
paid to shareholders from: |
|
|
|
|
Net
investment income |
(0.18
) |
(0.18
) |
—
|
|
Net
realized gain |
—
|
(0.00
) (c) |
—
|
|
Total
distributions |
(0.18
) |
(0.18
) |
—
|
|
Net
asset value, end of period |
$23.40
|
$23.96
|
$21.22
|
|
Total
return
(d) |
(1.59
)% |
13.82
% |
6.26
% |
|
| |||
|
Ratios
to average net assets/supplemental data: |
|
|
|
|
Net
assets, end of period (in 000’s) |
$2,340
|
$4,792
|
$3,183
|
|
Ratio
of total expenses to average net assets |
0.60
% (e) |
0.61
% (f) |
0.60
% (e) |
|
Ratio
of net investment income (loss) to average net
assets |
1.23
% (e) |
0.82
% |
0.83
% (e) |
|
Portfolio
turnover rate (g) |
10
% |
18
% |
0
% |
|
(a) |
Inception
date is June 26, 2024, which is consistent with the commencement of
investment operations and is the date the initial creation units
were
established. |
|
(b) |
Based
on average shares outstanding. |
|
(c) |
Amount
represents less than $0.01. |
|
(d) |
Total
return is calculated assuming an initial investment made at the net asset
value at the beginning of the period, reinvestment of all
distributions
at net asset value during the period, and redemption at net asset value on
the last day of the period. The returns presented do not
reflect
the deduction of taxes that a shareholder would pay on Fund distributions
or the redemption or sale of Fund shares. Total return is
calculated
for the time period presented and is not annualized for periods of less
than a year. |
|
(e) |
Annualized. |
|
(f) |
Includes
extraordinary expenses. If these extraordinary expenses were not included,
the expense ratio would have been 0.60%. |
|
(g) |
Portfolio
turnover is calculated for the time period presented and is not annualized
for periods of less than a year and does not include securities
received
or delivered from processing creations or redemptions and in-kind
transactions. |
|
First
Trust NASDAQ Technology Dividend Index Fund – (ticker
“TDIV”) |
|
Multi-Asset
Diversified Income Index Fund – (ticker “MDIV”) |
|
First
Trust S&P International Dividend Aristocrats ETF – (ticker
“FID”) |
|
First
Trust Rising Dividend Achievers ETF – (ticker
“RDVY”) |
|
First
Trust Dorsey Wright Focus 5 ETF – (ticker “FV”) |
|
First
Trust Dorsey Wright Momentum & Dividend ETF – (ticker
“DDIV”) |
|
First
Trust RBA American Industrial Renaissance®
ETF – (ticker “AIRR”) |
|
First
Trust Dorsey Wright International Focus 5 ETF – (ticker
“IFV”) |
|
First
Trust Dorsey Wright Dynamic Focus 5 ETF – (ticker
“FVC”) |
|
First
Trust SMID Cap Rising Dividend Achievers ETF – (ticker
“SDVY”) |
|
First
Trust Indxx Innovative Transaction & Process ETF – (ticker
“LEGR”) |
|
First
Trust Nasdaq Artificial Intelligence and Robotics ETF – (ticker
“ROBT”) |
|
First
Trust Dorsey Wright Momentum & Low Volatility ETF – (ticker
“DVOL”) |
|
First
Trust Dorsey Wright Momentum & Value ETF – (ticker
“DVLU”) |
|
First
Trust International Developed Capital Strength®
ETF – (ticker “FICS”) |
|
First
Trust S&P 500 Economic Moat ETF – (ticker
“EMOT”) |
|
Fund
|
Index |
|
First
Trust NASDAQ Technology Dividend Index Fund |
Nasdaq
Technology DividendTM
Index |
|
Multi-Asset
Diversified Income Index Fund |
Nasdaq
US Multi-Asset Diversified IncomeTM
Index |
|
First
Trust S&P International Dividend Aristocrats ETF |
S&P
International Dividend Aristocrats Index |
|
First
Trust Rising Dividend Achievers ETF |
Nasdaq
US Rising Dividend AchieversTM
Index |
|
First
Trust Dorsey Wright Focus 5 ETF |
Dorsey
Wright Focus FiveTM
Index |
|
First
Trust Dorsey Wright Momentum & Dividend ETF |
Dorsey
Wright Momentum Plus Dividend YieldTM
Index |
|
First
Trust RBA American Industrial Renaissance®
ETF |
Richard
Bernstein Advisors American Industrial
Renaissance®
Index |
|
First
Trust Dorsey Wright International Focus 5 ETF |
Dorsey
Wright International Focus FiveTM
Index |
|
First
Trust Dorsey Wright Dynamic Focus 5 ETF |
Dorsey
Wright Dynamic Focus FiveTM
Index |
|
First
Trust SMID Cap Rising Dividend Achievers ETF |
Nasdaq
US Small Mid Cap Rising Dividend AchieversTM
Index |
|
First
Trust Indxx Innovative Transaction & Process ETF |
Indxx
Blockchain Index |
|
First
Trust Nasdaq Artificial Intelligence and Robotics
ETF |
Nasdaq
CTA Artificial Intelligence and RoboticsTM
Index |
|
First
Trust Dorsey Wright Momentum & Low Volatility
ETF |
Dorsey
Wright Momentum Plus Low VolatilityTM
Index |
|
First
Trust Dorsey Wright Momentum & Value ETF |
Dorsey
Wright Momentum Plus ValueTM
Index |
|
First
Trust International Developed Capital Strength®
ETF |
The
International Developed Capital StrengthTM
Index |
|
First
Trust S&P 500 Economic Moat ETF |
S&P
500®
Economic Moat Index |
|
Security
Name |
Shares
at
3/31/2026 |
Value
at
9/30/2025 |
Purchases |
Sales |
Change
in
Unrealized
Appreciation
(Depreciation) |
Realized
Gain
(Loss) |
Value
at
3/31/2026 |
Dividend
Income |
|
First
Trust Tactical High
Yield
ETF |
1,971,377 |
$87,014,275 |
$7,095,321 |
$(11,292,332
) |
$(2,523,609
) |
$(314,890
) |
$79,978,765 |
$2,660,674 |
|
Security
Name |
Shares
at
3/31/2026 |
Value
at
9/30/2025 |
Purchases |
Sales |
Change
in
Unrealized
Appreciation
(Depreciation) |
Realized
Gain
(Loss) |
Value
at
3/31/2026 |
Dividend
Income |
|
First
Trust Dow
Jones
Internet
Index
Fund |
— |
$815,144,817 |
$752,702,491 |
$(1,464,734,489
) |
$(349,286,511
) |
$246,173,692 |
$— |
$— |
|
First
Trust
Energy
AlphaDEX®
Fund |
28,936,056 |
— |
673,975,005 |
(2,881,742
) |
(21,123,321
) |
(66,124
) |
649,903,818 |
— |
|
First
Trust
Financials
AlphaDEX®
Fund |
— |
754,892,036 |
781,093,025 |
(1,518,850,809
) |
(64,741,444
) |
47,607,192 |
— |
5,307,382 |
|
First
Trust
Industrials/Producer
Durables
AlphaDEX®
Fund |
— |
748,431,552 |
315,420,590 |
(1,086,629,491
) |
(231,601,943
) |
254,379,292 |
— |
1,941,429 |
|
First
Trust Indxx
Aerospace
&
Defense
ETF |
14,195,764 |
— |
1,240,768,365 |
(667,327,248
) |
36,183,125 |
25,068,366 |
634,692,608 |
410,160 |
|
First
Trust
Nasdaq
Bank
ETF |
— |
— |
713,047,999 |
(669,939,801
) |
— |
(43,108,198
) |
— |
1,385,852 |
|
First
Trust
Nasdaq
Semiconductor
ETF |
4,242,393 |
— |
1,387,027,383 |
(895,904,930
) |
113,950,676 |
20,552,567 |
625,625,696 |
906,965 |
|
Security
Name |
Shares
at
3/31/2026 |
Value
at
9/30/2025 |
Purchases |
Sales |
Change
in
Unrealized
Appreciation
(Depreciation) |
Realized
Gain
(Loss) |
Value
at
3/31/2026 |
Dividend
Income |
|
First
Trust
Nasdaq
Transportation
ETF |
16,978,445 |
$— |
$731,969,801 |
$(16,065,591
) |
$(67,667,610
) |
$(1,188,061
) |
$647,048,539 |
$569,849 |
|
First
Trust
NASDAQ-100
Ex-Technology
Sector
Index
Fund |
— |
684,369,920 |
137,984,617 |
(812,583,968
) |
(62,818,788
) |
53,048,219 |
— |
— |
|
First
Trust
NYSE®
Arca®
Biotechnology
Index
Fund |
3,383,294 |
— |
1,048,828,172 |
(306,250,680
) |
(47,890,359
) |
(15,254,032
) |
679,433,101 |
— |
|
First
Trust
Utilities
AlphaDEX®
Fund |
— |
700,385,954 |
468,867,667 |
(1,174,008,044
) |
(76,642,591
) |
81,397,014 |
— |
6,404,079 |
|
|
|
$3,703,224,279 |
$8,251,685,115 |
$(8,615,176,793
) |
$(771,638,766
) |
$668,609,927 |
$3,236,703,762 |
$16,925,716 |
|
Security
Name |
Shares
at
3/31/2026 |
Value
at
9/30/2025 |
Purchases |
Sales |
Change
in
Unrealized
Appreciation
(Depreciation) |
Realized
Gain
(Loss) |
Value
at
3/31/2026 |
Dividend
Income |
|
First
Trust China
AlphaDEX®
Fund |
1,528,173 |
$38,777,414 |
$14,055,816 |
$(7,853,019
) |
$1,155,644 |
$1,757,087 |
$47,892,942 |
$168,209 |
|
First
Trust Dow Jones
International
Internet
ETF |
— |
— |
37,239,541 |
(34,151,646
) |
— |
(3,087,895
) |
— |
378,940 |
|
First
Trust Europe
AlphaDEX®
Fund |
807,319 |
— |
47,219,468 |
(3,737,038
) |
541,930 |
63,330 |
44,087,690 |
61,518 |
|
First
Trust Eurozone
AlphaDEX®
ETF |
701,723 |
35,063,233 |
12,369,302 |
(5,447,135
) |
857,527 |
853,364 |
43,696,291 |
317,704 |
|
First
Trust Germany
AlphaDEX®
Fund |
692,944 |
34,640,911 |
13,045,603 |
(5,875,174
) |
(653,547
) |
431,251 |
41,589,044 |
25,066 |
|
First
Trust Switzerland
AlphaDEX®
Fund |
— |
32,647,833 |
1,140,590 |
(34,039,837
) |
(4,610,287
) |
4,861,701 |
— |
— |
|
First
Trust United
Kingdom
AlphaDEX®
Fund |
861,183 |
33,791,005 |
13,322,395 |
(4,556,362
) |
(395,044
) |
1,208,474 |
43,370,468 |
484,471 |
|
|
|
$174,920,396 |
$138,392,715 |
$(95,660,211
) |
$(3,103,777
) |
$6,087,312 |
$220,636,435 |
$1,435,908 |
|
Security
Name |
Shares
at
3/31/2026 |
Value
at
9/30/2025 |
Purchases |
Sales |
Change
in
Unrealized
Appreciation
(Depreciation) |
Realized
Gain
(Loss) |
Value
at
3/31/2026 |
Dividend
Income |
|
First
Trust Dow Jones
Internet
Index Fund |
— |
$11,741,527 |
$12,702,887 |
$(21,889,368
) |
$(2,262,597
) |
$(292,449
) |
$— |
$— |
|
First
Trust Energy
AlphaDEX®
Fund |
855,849 |
— |
19,840,603 |
— |
(618,234
) |
— |
19,222,369 |
— |
|
First
Trust Enhanced
Short
Maturity ETF |
— |
58,236,714 |
250,800 |
(58,539,993
) |
(65,693
) |
118,172 |
— |
399,014 |
|
First
Trust Financials
AlphaDEX®
Fund |
— |
10,873,656 |
11,985,775 |
(22,509,799
) |
(712,708
) |
363,076 |
— |
77,210 |
|
Security
Name |
Shares
at
3/31/2026 |
Value
at
9/30/2025 |
Purchases |
Sales |
Change
in
Unrealized
Appreciation
(Depreciation) |
Realized
Gain
(Loss) |
Value
at
3/31/2026 |
Dividend
Income |
|
First
Trust
Industrials/Producer
Durables
AlphaDEX®
Fund |
— |
$10,780,632 |
$2,584,103 |
$(13,852,347
) |
$(1,324,442
) |
$1,812,054 |
$— |
$28,244 |
|
First
Trust Indxx
Aerospace
& Defense
ETF |
419,871 |
— |
22,653,079 |
(5,487,821
) |
1,124,929 |
482,245 |
18,772,432 |
11,829 |
|
First
Trust Nasdaq Bank
ETF |
— |
— |
20,580,546 |
(19,322,888
) |
— |
(1,257,658
) |
— |
39,967 |
|
First
Trust Nasdaq
Semiconductor
ETF |
125,478 |
— |
20,490,864 |
(5,673,967
) |
3,023,678 |
663,666 |
18,504,241 |
14,033 |
|
First
Trust Nasdaq
Transportation
ETF |
502,175 |
— |
21,460,753 |
(335,323
) |
(1,947,237
) |
(40,304
) |
19,137,889 |
16,434 |
|
First
Trust NASDAQ-100
Ex-Technology
Sector
Index
Fund |
— |
9,857,862 |
20,300 |
(9,742,128
) |
(437,554
) |
301,520 |
— |
— |
|
First
Trust NYSE®
Arca®
Biotechnology
Index
Fund |
100,068 |
— |
23,052,329 |
(1,108,098
) |
(1,791,254
) |
(57,321
) |
20,095,656 |
— |
|
First
Trust Utilities
AlphaDEX®
Fund |
— |
10,088,536 |
11,972,854 |
(22,303,595
) |
(755,934
) |
998,139 |
— |
93,166 |
|
|
|
$111,578,927 |
$167,594,893 |
$(180,765,327
) |
$(5,767,046
) |
$3,091,140 |
$95,732,587 |
$679,897 |
|
|
Distributions
paid
from
Ordinary
Income |
Distributions
paid
from
Capital
Gains |
Distributions
paid
from
Return
of
Capital |
|
First
Trust NASDAQ Technology Dividend Index Fund |
$48,073,023 |
$— |
$— |
|
Multi-Asset
Diversified Income Index Fund |
28,075,432 |
— |
— |
|
First
Trust S&P International Dividend Aristocrats ETF |
4,365,901 |
— |
— |
|
First
Trust Rising Dividend Achievers ETF |
199,259,427 |
— |
— |
|
First
Trust Dorsey Wright Focus 5 ETF |
18,414,330 |
— |
— |
|
First
Trust Dorsey Wright Momentum & Dividend ETF |
1,450,777 |
— |
— |
|
First
Trust RBA American Industrial Renaissance®
ETF |
9,374,755 |
— |
— |
|
First
Trust Dorsey Wright International Focus 5 ETF |
3,758,351 |
— |
— |
|
First
Trust Dorsey Wright Dynamic Focus 5 ETF |
2,196,306 |
— |
— |
|
First
Trust SMID Cap Rising Dividend Achievers ETF |
124,118,861 |
— |
— |
|
First
Trust Indxx Innovative Transaction & Process ETF |
2,031,982 |
— |
— |
|
First
Trust Nasdaq Artificial Intelligence and Robotics
ETF |
2,196,550 |
— |
— |
|
First
Trust Dorsey Wright Momentum & Low Volatility
ETF |
586,670 |
— |
— |
|
|
Distributions
paid
from
Ordinary
Income |
Distributions
paid
from
Capital
Gains |
Distributions
paid
from
Return
of
Capital |
|
First
Trust Dorsey Wright Momentum & Value ETF |
$317,200 |
$— |
$— |
|
First
Trust International Developed Capital Strength®
ETF |
4,767,957 |
— |
— |
|
First
Trust S&P 500 Economic Moat ETF |
31,701 |
— |
— |
|
|
Undistributed
Ordinary
Income |
Accumulated
Capital
and
Other
Gain
(Loss) |
Net
Unrealized
Appreciation
(Depreciation) |
|
First
Trust NASDAQ Technology Dividend Index Fund |
$4,736,375 |
$(271,807,290
) |
$1,122,097,873 |
|
Multi-Asset
Diversified Income Index Fund |
— |
(232,670,005
) |
512,564 |
|
First
Trust S&P International Dividend Aristocrats ETF |
1,336,236 |
(7,974,969
) |
14,714,517 |
|
First
Trust Rising Dividend Achievers ETF |
2,681,688 |
(1,061,481,897
) |
2,570,423,761 |
|
First
Trust Dorsey Wright Focus 5 ETF |
323,545 |
(491,140,644
) |
752,305,712 |
|
First
Trust Dorsey Wright Momentum & Dividend ETF |
96,481 |
(26,511,392
) |
5,901,733 |
|
First
Trust RBA American Industrial Renaissance®
ETF |
— |
(223,898,961
) |
899,606,210 |
|
First
Trust Dorsey Wright International Focus 5 ETF |
55,180 |
(155,414,058
) |
28,438,115 |
|
First
Trust Dorsey Wright Dynamic Focus 5 ETF |
306,448 |
(86,855,865
) |
4,937,536 |
|
First
Trust SMID Cap Rising Dividend Achievers ETF |
4,701,906 |
(685,436,134
) |
1,067,623,683 |
|
First
Trust Indxx Innovative Transaction & Process ETF |
161,323 |
(4,466,828
) |
18,454,945 |
|
First
Trust Nasdaq Artificial Intelligence and Robotics
ETF |
— |
(81,977,411
) |
66,331,513 |
|
First
Trust Dorsey Wright Momentum & Low Volatility
ETF |
43,530 |
(21,661,156
) |
5,502,898 |
|
First
Trust Dorsey Wright Momentum & Value ETF |
17,015 |
(14,789,508
) |
5,784,579 |
|
First
Trust International Developed Capital Strength®
ETF |
— |
(5,175,371
) |
14,522,068 |
|
First
Trust S&P 500 Economic Moat ETF |
4,938 |
(19,109
) |
353,398 |
|
|
Non-Expiring
Capital
Loss
Carryforwards |
|
First
Trust NASDAQ Technology Dividend Index Fund |
$271,807,290 |
|
Multi-Asset
Diversified Income Index Fund |
232,670,005 |
|
First
Trust S&P International Dividend Aristocrats ETF |
7,974,969 |
|
First
Trust Rising Dividend Achievers ETF |
1,061,481,897 |
|
First
Trust Dorsey Wright Focus 5 ETF |
491,140,644 |
|
First
Trust Dorsey Wright Momentum & Dividend ETF |
26,511,392 |
|
First
Trust RBA American Industrial Renaissance®
ETF |
223,898,961 |
|
First
Trust Dorsey Wright International Focus 5 ETF |
155,414,058 |
|
First
Trust Dorsey Wright Dynamic Focus 5 ETF |
86,855,865 |
|
First
Trust SMID Cap Rising Dividend Achievers ETF |
685,436,134 |
|
First
Trust Indxx Innovative Transaction & Process ETF |
4,466,828 |
|
First
Trust Nasdaq Artificial Intelligence and Robotics
ETF |
81,977,411 |
|
First
Trust Dorsey Wright Momentum & Low Volatility
ETF |
21,661,156 |
|
First
Trust Dorsey Wright Momentum & Value ETF |
14,789,508 |
|
First
Trust International Developed Capital Strength®
ETF |
5,175,371 |
|
First
Trust S&P 500 Economic Moat ETF |
19,109 |
|
|
Capital
Loss
Utilized |
|
Multi-Asset
Diversified Income Index Fund |
$11,914,582 |
|
First
Trust S&P International Dividend Aristocrats ETF |
3,041,344 |
|
First
Trust Dorsey Wright Focus 5 ETF |
232,244,574 |
|
First
Trust Dorsey Wright Momentum & Dividend ETF |
1,228,762 |
|
First
Trust Dorsey Wright International Focus 5 ETF |
8,773,526 |
|
First
Trust Dorsey Wright Dynamic Focus 5 ETF |
5,869,070 |
|
First
Trust Indxx Innovative Transaction & Process ETF |
48,539 |
|
First
Trust Dorsey Wright Momentum & Low Volatility
ETF |
5,227,135 |
|
First
Trust International Developed Capital Strength®
ETF |
2,193,150 |
|
|
Tax
Cost |
Gross
Unrealized
Appreciation |
Gross
Unrealized
(Depreciation) |
Net
Unrealized
Appreciation
(Depreciation) |
|
First
Trust NASDAQ Technology Dividend Index Fund |
$2,964,128,399 |
$756,343,231 |
$(179,080,679
) |
$577,262,552 |
|
Multi-Asset
Diversified Income Index Fund |
383,215,029 |
37,137,682 |
(27,122,231
) |
10,015,451 |
|
First
Trust S&P International Dividend Aristocrats ETF |
138,979,898 |
16,889,665 |
(4,898,597
) |
11,991,068 |
|
First
Trust Rising Dividend Achievers ETF |
17,239,978,868 |
3,401,012,278 |
(796,032,376
) |
2,604,979,902 |
|
First
Trust Dorsey Wright Focus 5 ETF |
3,224,255,200 |
150,133,801 |
(136,681,290
) |
13,452,511 |
|
First
Trust Dorsey Wright Momentum & Dividend ETF |
60,919,910 |
6,631,526 |
(4,838,148
) |
1,793,378 |
|
First
Trust RBA American Industrial Renaissance®
ETF |
6,930,799,056 |
1,631,637,679 |
(174,179,003
) |
1,457,458,676 |
|
First
Trust Dorsey Wright International Focus 5 ETF |
195,594,611 |
25,355,923 |
— |
25,355,923 |
|
First
Trust Dorsey Wright Dynamic Focus 5 ETF |
96,041,475 |
4,148,607 |
(4,356,725
) |
(208,118
) |
|
|
Tax
Cost |
Gross
Unrealized
Appreciation |
Gross
Unrealized
(Depreciation) |
Net
Unrealized
Appreciation
(Depreciation) |
|
First
Trust SMID Cap Rising Dividend Achievers ETF |
$8,948,102,214 |
$1,463,600,983 |
$(311,674,441
) |
$1,151,926,542 |
|
First
Trust Indxx Innovative Transaction & Process ETF |
105,197,456 |
25,284,362 |
(9,545,008
) |
15,739,354 |
|
First
Trust Nasdaq Artificial Intelligence and Robotics
ETF |
677,080,899 |
81,203,502 |
(107,003,645
) |
(25,800,143
) |
|
First
Trust Dorsey Wright Momentum & Low Volatility
ETF |
69,007,564 |
4,988,482 |
(4,818,839
) |
169,643 |
|
First
Trust Dorsey Wright Momentum & Value ETF |
41,211,076 |
2,149,101 |
(2,288,984
) |
(139,883
) |
|
First
Trust International Developed Capital Strength®
ETF |
194,837,993 |
30,050,308 |
(12,105,112
) |
17,945,196 |
|
First
Trust S&P 500 Economic Moat ETF |
2,513,126 |
141,136 |
(318,717
) |
(177,581
) |
|
Fund
|
Licensor |
|
First
Trust NASDAQ Technology Dividend Index Fund |
Nasdaq,
Inc. |
|
Multi-Asset
Diversified Income Index Fund |
Nasdaq,
Inc. |
|
First
Trust S&P International Dividend Aristocrats ETF |
S&P
Dow Jones Indices, LLC |
|
First
Trust Rising Dividend Achievers ETF |
Nasdaq,
Inc. |
|
First
Trust Dorsey Wright Focus 5 ETF |
Dorsey,
Wright & Associates, LLC |
|
First
Trust Dorsey Wright Momentum & Dividend ETF |
Nasdaq,
Inc. |
|
First
Trust RBA American Industrial Renaissance®
ETF |
Richard
Bernstein Advisors LLC |
|
First
Trust Dorsey Wright International Focus 5 ETF |
Dorsey,
Wright & Associates, LLC |
|
First
Trust Dorsey Wright Dynamic Focus 5 ETF |
Dorsey,
Wright & Associates, LLC |
|
First
Trust SMID Cap Rising Dividend Achievers ETF |
Nasdaq,
Inc. |
|
First
Trust Indxx Innovative Transaction & Process ETF |
Indxx,
Inc. |
|
First
Trust Nasdaq Artificial Intelligence and Robotics
ETF |
Nasdaq,
Inc. |
|
First
Trust Dorsey Wright Momentum & Low Volatility
ETF |
Nasdaq,
Inc. |
|
First
Trust Dorsey Wright Momentum & Value ETF |
Nasdaq,
Inc. |
|
First
Trust International Developed Capital Strength®
ETF |
Nasdaq,
Inc. |
|
First
Trust S&P 500 Economic Moat ETF |
S&P
Dow Jones Indices, LLC |
|
Breakpoints |
TDIV |
RDVY |
FV |
DDIV |
|
Fund
net assets up to and including $2.5 billion |
0.5000
% |
0.5000
% |
0.3000
% |
0.600
% |
|
Fund
net assets greater than $2.5 billion up to and including $5
billion |
0.4875
% |
0.4875
% |
0.2925
% |
0.585
% |
|
Fund
net assets greater than $5 billion up to and including $7.5
billion |
0.4750
% |
0.4750
% |
0.2850
% |
0.570
% |
|
Fund
net assets greater than $7.5 billion up to and including $10
billion |
0.4625
% |
0.4625
% |
0.2775
% |
0.555
% |
|
Fund
net assets greater than $10 billion up to and including $15
billion |
0.4500
% |
0.4500
% |
0.2700
% |
0.540
% |
|
Fund
net assets greater than $15 billion |
0.4250
% |
0.4250
% |
0.2550
% |
0.510
% |
|
Breakpoints |
AIRR |
IFV |
FVC |
SDVY |
|
Fund
net assets up to and including $2.5 billion |
0.7000
% |
0.3000
% |
0.3000
% |
0.600
% |
|
Fund
net assets greater than $2.5 billion up to and including $5
billion |
0.6825
% |
0.2925
% |
0.2925
% |
0.585
% |
|
Fund
net assets greater than $5 billion up to and including $7.5
billion |
0.6650
% |
0.2850
% |
0.2850
% |
0.570
% |
|
Fund
net assets greater than $7.5 billion up to and including $10
billion |
0.6475
% |
0.2775
% |
0.2775
% |
0.555
% |
|
Fund
net assets greater than $10 billion up to and including $15
billion |
0.6300
% |
0.2700
% |
0.2700
% |
0.540
% |
|
Fund
net assets greater than $15 billion |
0.5950
% |
0.2550
% |
0.2550
% |
0.510
% |
|
Breakpoints |
DVOL |
DVLU |
EMOT |
|
Fund
net assets up to and including $2.5 billion |
0.600
% |
0.600
% |
0.600
% |
|
Fund
net assets greater than $2.5 billion up to and including $5
billion |
0.585
% |
0.585
% |
0.585
% |
|
Fund
net assets greater than $5 billion up to and including $7.5
billion |
0.570
% |
0.570
% |
0.570
% |
|
Fund
net assets greater than $7.5 billion up to and including $10
billion |
0.555
% |
0.555
% |
0.555
% |
|
Fund
net assets greater than $10 billion up to and including $15
billion |
0.540
% |
0.540
% |
0.540
% |
|
Fund
net assets greater than $15 billion |
0.510
% |
0.510
% |
0.510
% |
|
Breakpoints |
MDIV |
FID |
|
Fund
net assets up to and including $2.5 billion |
0.600
% |
0.600
% |
|
Fund
net assets greater than $2.5 billion up to and including $5
billion |
0.585
% |
0.585
% |
|
Fund
net assets greater than $5 billion up to and including $7.5
billion |
0.570
% |
0.570
% |
|
Fund
net assets greater than $7.5 billion up to and including $10
billion |
0.555
% |
0.555
% |
|
Fund
net assets greater than $10 billion |
0.540
% |
0.540
% |
|
Breakpoints |
LEGR |
ROBT |
FICS |
|
Fund
net assets up to and including $2.5 billion |
0.65000
% |
0.65000
% |
0.7000
% |
|
Fund
net assets greater than $2.5 billion up to and including $5
billion |
0.63375
% |
0.63375
% |
0.6825
% |
|
Fund
net assets greater than $5 billion up to and including $7.5
billion |
0.61750
% |
0.61750
% |
0.6650
% |
|
Fund
net assets greater than $7.5 billion up to and including $10
billion |
0.60125
% |
0.60125
% |
0.6475
% |
|
Fund
net assets greater than $10 billion |
0.58500
% |
0.58500
% |
0.6300
% |
|
|
Purchases |
Sales |
|
First
Trust NASDAQ Technology Dividend Index Fund |
$536,499,138 |
$538,125,373 |
|
Multi-Asset
Diversified Income Index Fund |
119,451,725 |
118,600,930 |
|
First
Trust S&P International Dividend Aristocrats ETF |
63,163,600 |
53,936,934 |
|
First
Trust Rising Dividend Achievers ETF |
3,915,812,687 |
3,919,887,551 |
|
First
Trust Dorsey Wright Focus 5 ETF |
4,350,299,870 |
4,341,026,451 |
|
First
Trust Dorsey Wright Momentum & Dividend ETF |
64,958,268 |
64,865,586 |
|
First
Trust RBA American Industrial Renaissance®
ETF |
1,414,796,580 |
1,421,133,657 |
|
First
Trust Dorsey Wright International Focus 5 ETF |
75,453,427 |
75,504,354 |
|
First
Trust Dorsey Wright Dynamic Focus 5 ETF |
165,906,590 |
166,157,243 |
|
First
Trust SMID Cap Rising Dividend Achievers ETF |
1,866,529,692 |
1,867,478,442 |
|
First
Trust Indxx Innovative Transaction & Process ETF |
12,718,498 |
11,680,922 |
|
First
Trust Nasdaq Artificial Intelligence and Robotics
ETF |
157,033,565 |
152,889,032 |
|
First
Trust Dorsey Wright Momentum & Low Volatility
ETF |
99,866,543 |
99,946,486 |
|
First
Trust Dorsey Wright Momentum & Value ETF |
34,210,345 |
34,240,248 |
|
First
Trust International Developed Capital Strength®
ETF |
80,693,262 |
80,781,423 |
|
First
Trust S&P 500 Economic Moat ETF |
374,409 |
363,501 |
|
|
Purchases |
Sales |
|
First
Trust NASDAQ Technology Dividend Index Fund |
$760,303,626 |
$784,220,897 |
|
Multi-Asset
Diversified Income Index Fund |
7,245,953 |
45,304,445 |
|
First
Trust S&P International Dividend Aristocrats ETF |
59,419,633 |
44,723,421 |
|
|
Purchases |
Sales |
|
First
Trust Rising Dividend Achievers ETF |
$4,325,813,429 |
$1,943,347,315 |
|
First
Trust Dorsey Wright Focus 5 ETF |
3,901,385,245 |
4,274,150,342 |
|
First
Trust Dorsey Wright Momentum & Dividend ETF |
23,576,394 |
27,883,044 |
|
First
Trust RBA American Industrial Renaissance®
ETF |
3,070,953,552 |
1,171,198,814 |
|
First
Trust Dorsey Wright International Focus 5 ETF |
62,939,288 |
20,155,857 |
|
First
Trust Dorsey Wright Dynamic Focus 5 ETF |
1,688,303 |
14,608,084 |
|
First
Trust SMID Cap Rising Dividend Achievers ETF |
2,646,660,025 |
1,831,243,979 |
|
First
Trust Indxx Innovative Transaction & Process ETF |
13,268,533 |
16,604,388 |
|
First
Trust Nasdaq Artificial Intelligence and Robotics
ETF |
132,958,202 |
47,005,449 |
|
First
Trust Dorsey Wright Momentum & Low Volatility
ETF |
5,246,673 |
24,828,031 |
|
First
Trust Dorsey Wright Momentum & Value ETF |
35,142,870 |
27,680,838 |
|
First
Trust International Developed Capital Strength®
ETF |
5,972,984 |
11,806,304 |
|
First
Trust S&P 500 Economic Moat ETF |
1,187,457 |
3,630,988 |
|
Semi-Annual
Financial
Statements
and
Other
Information |
|
For
the Period Ended
March 31,
2026 |

|
First
Trust RBA Deglobalization ETF (DGLO) |
|
First
Trust International Rising Dividend Achievers ETF
(IDVY) |
1 | |
|
3 | |
8 | |
|
9 | |
10 | |
|
11 | |
13 | |
|
20 |
|
Shares |
Description |
Value | |||
|
COMMON
STOCKS — 99.8% | |||||
|
|
Aerospace
& Defense — 19.1%
|
| |||
|
44 |
Axon
Enterprise, Inc. (a) |
$18,686 | |||
|
53 |
BWX
Technologies, Inc. |
10,838 | |||
|
640 |
Byrna
Technologies, Inc. (a) |
5,875 | |||
|
845 |
Cadre
Holdings, Inc. |
25,925 | |||
|
34 |
Carpenter
Technology Corp. |
13,401 | |||
|
33 |
Curtiss-Wright
Corp. |
22,477 | |||
|
132 |
Ducommun,
Inc. (a) |
16,104 | |||
|
179 |
General
Dynamics Corp. |
61,436 | |||
|
99 |
General
Electric Co. |
28,093 | |||
|
106 |
Howmet
Aerospace, Inc. |
24,429 | |||
|
39 |
Huntington
Ingalls Industries,
Inc. |
14,816 | |||
|
151 |
Kratos
Defense & Security
Solutions,
Inc. (a) |
10,647 | |||
|
95 |
L3Harris
Technologies, Inc. |
32,789 | |||
|
1,260 |
Leonardo
DRS, Inc. |
56,095 | |||
|
110 |
Mercury
Systems, Inc. (a) |
8,020 | |||
|
94 |
National
Presto Industries, Inc. |
12,884 | |||
|
46 |
Northrop
Grumman Corp. |
31,383 | |||
|
467 |
Park
Aerospace Corp. |
12,787 | |||
|
50 |
Woodward,
Inc. |
17,896 | |||
|
|
|
424,581 | |||
|
|
Building
Products — 11.1%
|
| |||
|
124 |
Advanced
Drainage Systems,
Inc. |
17,004 | |||
|
395 |
Apogee
Enterprises, Inc. |
13,248 | |||
|
250 |
Armstrong
World Industries, Inc. |
41,200 | |||
|
87 |
Builders
FirstSource, Inc. (a) |
7,163 | |||
|
58 |
Carlisle
Cos., Inc. |
19,350 | |||
|
39 |
CSW
Industrials, Inc. |
10,163 | |||
|
196 |
Gibraltar
Industries, Inc. (a) |
7,815 | |||
|
408 |
Insteel
Industries, Inc. |
13,713 | |||
|
36 |
Lennox
International, Inc. |
16,709 | |||
|
501 |
Masco
Corp. |
30,245 | |||
|
289 |
Resideo
Technologies, Inc. (a) |
9,742 | |||
|
257 |
Trex
Co., Inc. (a) |
9,360 | |||
|
251 |
UFP
Industries, Inc. |
23,122 | |||
|
635 |
Zurn
Elkay Water Solutions
Corp. |
28,473 | |||
|
|
|
247,307 | |||
|
|
Chemicals
— 5.0%
|
| |||
|
596 |
AdvanSix,
Inc. |
14,542 | |||
|
173 |
Balchem
Corp. |
29,320 | |||
|
1,023 |
Ecovyst,
Inc. (a) |
13,156 | |||
|
71 |
Hawkins,
Inc. |
10,906 | |||
|
342 |
Intrepid
Potash, Inc. (a) |
14,627 | |||
|
89 |
Sherwin-Williams
(The) Co. |
28,529 | |||
|
|
|
111,080 | |||
|
Shares |
Description |
Value | |||
|
| |||||
|
|
Commercial
Services & Supplies
— 6.8%
|
| |||
|
1,130 |
BrightView
Holdings, Inc. (a) |
$13,323 | |||
|
169 |
Casella
Waste Systems, Inc.,
Class
A (a) |
13,408 | |||
|
103 |
Clean
Harbors, Inc. (a) |
29,533 | |||
|
474 |
HNI
Corp. |
15,827 | |||
|
243 |
Republic
Services, Inc. |
53,222 | |||
|
476 |
Rollins,
Inc. |
25,423 | |||
|
|
|
150,736 | |||
|
|
Construction
& Engineering —
5.8%
|
| |||
|
10 |
Comfort
Systems USA, Inc. |
13,790 | |||
|
22 |
EMCOR
Group, Inc. |
16,243 | |||
|
202 |
Granite
Construction, Inc. |
24,216 | |||
|
50 |
MasTec,
Inc. (a) |
16,087 | |||
|
46 |
MYR
Group, Inc. (a) |
12,987 | |||
|
161 |
NWPX
Infrastructure, Inc. (a) |
12,535 | |||
|
79 |
Primoris
Services Corp. |
11,300 | |||
|
39 |
Quanta
Services, Inc. |
21,412 | |||
|
|
|
128,570 | |||
|
|
Construction
Materials — 0.5%
|
| |||
|
82 |
United
States Lime & Minerals,
Inc. |
10,710 | |||
|
|
Containers
& Packaging — 2.4%
|
| |||
|
332 |
International
Paper Co. |
11,852 | |||
|
198 |
Packaging
Corp. of America |
42,020 | |||
|
|
|
53,872 | |||
|
|
Energy
Equipment & Services —
1.8%
|
| |||
|
278 |
Cactus,
Inc., Class A |
13,169 | |||
|
767 |
Ranger
Energy Services, Inc.,
Class
A |
13,146 | |||
|
933 |
Select
Water Solutions, Inc. |
14,275 | |||
|
|
|
40,590 | |||
|
|
Ground
Transportation — 10.3%
|
| |||
|
124 |
ArcBest
Corp. |
12,197 | |||
|
1,042 |
CSX
Corp. |
42,774 | |||
|
104 |
J.B.
Hunt Transport Services,
Inc. |
22,038 | |||
|
174 |
Landstar
System, Inc. |
27,894 | |||
|
1,759 |
Marten
Transport Ltd. |
23,096 | |||
|
100 |
Old
Dominion Freight Line, Inc. |
19,540 | |||
|
30 |
Saia,
Inc. (a) |
10,538 | |||
|
566 |
Schneider
National, Inc., Class B |
14,920 | |||
|
233 |
Union
Pacific Corp. |
56,530 | |||
|
|
|
229,527 | |||
|
|
IT
Services — 0.4%
|
| |||
|
125 |
Okta,
Inc. (a) |
9,839 | |||
|
Shares |
Description |
Value | |||
|
COMMON
STOCKS (Continued) | |||||
|
|
Machinery
— 6.0%
|
| |||
|
285 |
Astec
Industries, Inc. |
$15,345 | |||
|
222 |
Blue
Bird Corp. (a) |
12,607 | |||
|
155 |
Federal
Signal Corp. |
16,762 | |||
|
404 |
Miller
Industries, Inc.
|
18,402 | |||
|
688 |
Mueller
Water Products, Inc.,
Class
A |
18,913 | |||
|
261 |
Proto
Labs, Inc. (a) |
14,882 | |||
|
234 |
Toro
(The) Co. |
21,865 | |||
|
286 |
Worthington
Enterprises, Inc. |
14,912 | |||
|
|
|
133,688 | |||
|
|
Metals
& Mining — 3.9%
|
| |||
|
202 |
Commercial
Metals Co. |
12,409 | |||
|
561 |
Metallus,
Inc. (a) |
9,167 | |||
|
69 |
Nucor
Corp. |
11,668 | |||
|
73 |
Reliance,
Inc. |
22,186 | |||
|
73 |
Steel
Dynamics, Inc. |
13,140 | |||
|
1,343 |
SunCoke
Energy, Inc. |
8,743 | |||
|
296 |
Worthington
Steel, Inc. |
8,983 | |||
|
|
|
86,296 | |||
|
|
Oil,
Gas & Consumable Fuels —
20.1%
|
| |||
|
264 |
California
Resources Corp. |
18,274 | |||
|
207 |
Chord
Energy Corp. |
29,431 | |||
|
329 |
ConocoPhillips |
43,428 | |||
|
828 |
Coterra
Energy, Inc. |
29,096 | |||
|
554 |
Devon
Energy Corp. |
27,877 | |||
|
354 |
EOG
Resources, Inc. |
51,178 | |||
|
325 |
HF
Sinclair Corp. |
20,277 | |||
|
1,197 |
Magnolia
Oil & Gas Corp.,
Class
A |
37,789 | |||
|
117 |
Marathon
Petroleum Corp. |
28,569 | |||
|
311 |
Matador
Resources Co. |
19,649 | |||
|
353 |
Murphy
Oil Corp. |
14,561 | |||
|
1,298 |
Permian
Resources Corp.,
Class
A |
27,674 | |||
|
391 |
Riley
Exploration Permian, Inc. |
14,252 | |||
|
110 |
Targa
Resources Corp. |
27,580 | |||
|
34 |
Texas
Pacific Land Corp. |
16,135 | |||
|
531 |
Viper
Energy, Inc., Class A |
24,952 | |||
|
870 |
Vitesse
Energy, Inc. |
15,799 | |||
|
|
|
446,521 | |||
|
|
Professional
Services — 6.6%
|
| |||
|
114 |
Booz
Allen Hamilton Holding
Corp. |
8,895 | |||
|
19 |
CACI
International, Inc.,
Class
A (a) |
10,333 | |||
|
50 |
CRA
International, Inc. |
8,094 | |||
|
82 |
Equifax,
Inc. |
14,766 | |||
|
331 |
Exponent,
Inc. |
21,598 | |||
|
92 |
Huron
Consulting Group, Inc. (a) |
11,729 | |||
|
Shares |
Description |
Value | |||
|
| |||||
|
|
Professional
Services
(Continued)
|
| |||
|
117 |
ICF
International, Inc. |
$7,639 | |||
|
1,077 |
Legalzoom.com,
Inc. (a) |
6,107 | |||
|
102 |
Leidos
Holdings, Inc. |
15,863 | |||
|
157 |
Parsons
Corp. (a) |
8,505 | |||
|
118 |
Science
Applications
International
Corp. |
11,200 | |||
|
121 |
Verisk
Analytics, Inc. |
22,960 | |||
|
|
|
147,689 | |||
|
| |||||
|
| |||||
|
|
Total
Investments — 99.8% |
2,221,006 | |||
|
|
(Cost
$2,153,864) |
| |||
|
|
Net
Other Assets and
Liabilities
— 0.2% |
3,584 | |||
|
|
Net
Assets — 100.0% |
$2,224,590 | |||
|
(a) |
Non-income
producing security. |
|
|
Total
Value at
3/31/2026 |
Level 1
Quoted
Prices |
Level 2
Significant
Observable
Inputs |
Level 3
Significant
Unobservable
Inputs |
|
Common
Stocks* |
$2,221,006 |
$2,221,006 |
$— |
$— |
|
* |
See
Portfolio of Investments for industry
breakout. |
|
Shares |
Description |
Value | |||
|
COMMON
STOCKS (a) — 99.1% | |||||
|
|
Aerospace
& Defense — 5.7%
|
| |||
|
39 |
Airbus
SE (EUR) (b) |
$7,374 | |||
|
17 |
Hanwha
Aerospace Co., Ltd.
(KRW)
(b) |
14,496 | |||
|
184 |
Leonardo
S.p.A. (EUR) (b) |
12,516 | |||
|
26 |
MTU
Aero Engines AG
(EUR)
(b) |
9,485 | |||
|
762 |
Rolls-Royce
Holdings PLC
(GBP)
(b) |
11,577 | |||
|
24 |
Safran
S.A. (EUR) (b) |
7,853 | |||
|
11 |
Thales
S.A. (EUR) (b) |
3,226 | |||
|
|
|
66,527 | |||
|
|
Air
Freight & Logistics — 1.1%
|
| |||
|
90 |
Hyundai
Glovis Co., Ltd.
(KRW)
(b) |
12,783 | |||
|
|
Automobile
Components — 5.0%
|
| |||
|
100 |
Bridgestone
Corp. (JPY) (b) |
2,084 | |||
|
800 |
Denso
Corp. (JPY) (b) |
10,030 | |||
|
65 |
Hankook
Tire & Technology
Co.,
Ltd. (KRW) (b) |
2,393 | |||
|
47 |
Hyundai
Mobis Co., Ltd.
(KRW)
(b) |
12,127 | |||
|
300 |
Niterra
Co., Ltd. (JPY) (b) |
14,145 | |||
|
300 |
Sumitomo
Electric Industries
Ltd.
(JPY) (b) |
17,046 | |||
|
|
|
57,825 | |||
|
|
Automobiles
— 3.4%
|
| |||
|
4,000 |
Geely
Automobile Holdings Ltd.
(HKD)
(b) |
10,833 | |||
|
200 |
Honda
Motor Co., Ltd. (JPY) (b) |
1,619 | |||
|
200 |
Isuzu
Motors Ltd. (JPY) (b) |
2,880 | |||
|
130 |
Kia
Corp. (KRW) (b) |
12,835 | |||
|
100 |
Subaru
Corp. (JPY) (b) |
1,611 | |||
|
800 |
Suzuki
Motor Corp. (JPY) (b) |
9,751 | |||
|
|
|
39,529 | |||
|
|
Banks
— 20.8%
|
| |||
|
278 |
ABN
AMRO Bank N.V.
(EUR)
(b) (c) |
8,813 | |||
|
1,206 |
AIB
Group PLC (EUR) (b) |
12,874 | |||
|
747 |
Alpha
Bank S.A. (EUR) (b) |
2,771 | |||
|
1,416 |
Banco
de Sabadell S.A.
(EUR)
(b) |
5,072 | |||
|
258 |
Banco
Santander S.A. (EUR) (b) |
2,892 | |||
|
535 |
Bank
Hapoalim BM (ILS) (b) |
12,564 | |||
|
410 |
Bank
Leumi Le-Israel BM
(ILS)
(b) |
9,169 | |||
|
169 |
Bank
of Ireland Group PLC
(EUR)
(b) |
3,066 | |||
|
2,097 |
Barclays
PLC (GBP) (b) |
10,974 | |||
|
Shares |
Description |
Value | |||
|
| |||||
|
|
Banks
(Continued)
|
| |||
|
56 |
BNP
Paribas S.A. (EUR) (b) |
$5,335 | |||
|
1,500 |
BOC
Hong Kong Holdings Ltd.
(HKD)
(b) |
8,275 | |||
|
1,052 |
CaixaBank
S.A. (EUR) (b) |
12,611 | |||
|
297 |
Commerzbank
AG (EUR) (b) |
10,834 | |||
|
275 |
Credit
Agricole S.A. (EUR) (b) |
5,133 | |||
|
2,888 |
Eurobank
S.A. (EUR) (b) |
11,564 | |||
|
39 |
Hana
Financial Group, Inc.
(KRW)
(b) |
2,843 | |||
|
372 |
HSBC
Holdings PLC (GBP) (b) |
6,109 | |||
|
809 |
Israel
Discount Bank Ltd.,
Class
A (ILS) (b) |
8,169 | |||
|
2,383 |
Lloyds
Banking Group PLC
(GBP)
(b) |
2,954 | |||
|
700 |
Mitsubishi
UFJ Financial Group,
Inc.
(JPY) (b) |
11,854 | |||
|
165 |
Mizrahi
Tefahot Bank Ltd.
(ILS)
(b) |
12,058 | |||
|
200 |
Mizuho
Financial Group, Inc.
(JPY)
(b) |
8,097 | |||
|
383 |
National
Bank of Greece S.A.
(EUR)
(b) |
5,917 | |||
|
327 |
NatWest
Group PLC (GBP) (b) |
2,422 | |||
|
600 |
Oversea-Chinese
Banking Corp.,
Ltd.
(SGD) (b) |
10,277 | |||
|
38 |
Royal
Bank of Canada (CAD) |
6,143 | |||
|
41 |
Societe
Generale S.A. (EUR) (b) |
2,994 | |||
|
549 |
Standard
Chartered PLC
(GBP)
(b) |
11,441 | |||
|
400 |
Sumitomo
Mitsui Financial
Group,
Inc. (JPY) (b) |
13,152 | |||
|
100 |
Sumitomo
Mitsui Trust Group,
Inc.
(JPY) (b) |
3,186 | |||
|
400 |
United
Overseas Bank Ltd.
(SGD)
(b) |
11,450 | |||
|
|
|
241,013 | |||
|
|
Beverages
— 0.4%
|
| |||
|
1,500 |
China
Resources Beer Holdings
Co.,
Ltd. (HKD) (b) |
4,964 | |||
|
|
Broadline
Retail — 1.0%
|
| |||
|
600 |
Isetan
Mitsukoshi Holdings Ltd.
(JPY)
(b) |
11,055 | |||
|
|
Building
Products — 0.6%
|
| |||
|
21 |
Cie
de Saint-Gobain S.A.
(EUR)
(b) |
1,739 | |||
|
202 |
ROCKWOOL
A/S, Class B
(DKK)
(b) |
5,610 | |||
|
|
|
7,349 | |||
|
|
Capital
Markets — 1.2%
|
| |||
|
330 |
Deutsche
Bank AG (EUR) (b) |
9,821 | |||
|
200 |
SBI
Holdings, Inc. (JPY) (b) |
3,703 | |||
|
|
|
13,524 | |||
|
Shares |
Description |
Value | |||
|
COMMON
STOCKS (a) (Continued) | |||||
|
|
Chemicals
— 0.2%
|
| |||
|
400 |
Nippon
Paint Holdings Co., Ltd.
(JPY)
(b) |
$2,508 | |||
|
|
Commercial
Services & Supplies
— 0.3%
|
| |||
|
86 |
ISS
A/S (DKK) (b) |
3,132 | |||
|
|
Communications
Equipment —
0.6%
|
| |||
|
576 |
Telefonaktiebolaget
LM
Ericsson,
Class B (SEK) (b) |
6,567 | |||
|
|
Construction
& Engineering —
4.6%
|
| |||
|
30 |
Ackermans
& Van Haaren N.V.
(EUR)
(b) |
9,225 | |||
|
200 |
Kajima
Corp. (JPY) (b) |
7,630 | |||
|
600 |
Obayashi
Corp. (JPY) (b) |
14,532 | |||
|
100 |
Taisei
Corp. (JPY) (b) |
10,360 | |||
|
75 |
Vinci
S.A. (EUR) (b) |
11,258 | |||
|
|
|
53,005 | |||
|
|
Construction
Materials — 0.6%
|
| |||
|
143 |
Buzzi
S.p.A. (EUR) (b) |
7,230 | |||
|
|
Diversified
Telecommunication Services
— 0.3%
|
| |||
|
148 |
KT
Corp., ADR |
3,175 | |||
|
|
Electric
Utilities — 0.4%
|
| |||
|
11 |
BKW
AG (CHF) (b) |
2,169 | |||
|
30 |
Verbund
AG (EUR) (b) |
2,292 | |||
|
|
|
4,461 | |||
|
|
Electrical
Equipment — 3.2%
|
| |||
|
600 |
Fujikura
Ltd. (JPY) (b) |
16,501 | |||
|
8 |
HD
Hyundai Electric Co., Ltd.
(KRW)
(b) |
4,534 | |||
|
80 |
Nexans
S.A. (EUR) (b) |
10,883 | |||
|
9 |
Schneider
Electric SE (EUR) (b) |
2,451 | |||
|
17 |
Siemens
Energy AG (EUR) (b) |
2,932 | |||
|
|
|
37,301 | |||
|
|
Energy
Equipment & Services —
2.0%
|
| |||
|
266 |
Technip
Energies N.V.
(EUR)
(b) |
11,241 | |||
|
422 |
Tenaris
S.A. (EUR) (b) |
12,336 | |||
|
|
|
23,577 | |||
|
|
Financial
Services — 0.3%
|
| |||
|
66 |
Industrivarden
AB, Class C
(SEK)
(b) |
3,272 | |||
|
|
Food
Products — 0.6%
|
| |||
|
100 |
Toyo
Suisan Kaisha Ltd.
(JPY)
(b) |
7,033 | |||
|
Shares |
Description |
Value | |||
|
| |||||
|
|
Hotels,
Restaurants & Leisure —
2.6%
|
| |||
|
170 |
Aristocrat
Leisure Ltd.
(AUD)
(b) |
$5,403 | |||
|
159 |
Evolution
AB (SEK) (b) (c) (d) |
9,993 | |||
|
1,000 |
Galaxy
Entertainment Group
Ltd.
(HKD) (b) |
4,520 | |||
|
200 |
Trip.com
Group Ltd.
(HKD)
(b) (e) |
9,884 | |||
|
|
|
29,800 | |||
|
|
Household
Durables — 2.3%
|
| |||
|
67 |
De’
Longhi S.p.A (EUR) (b) |
2,355 | |||
|
100 |
Open
House Group Co., Ltd.
(JPY)
(b) |
6,409 | |||
|
700 |
Panasonic
Holdings Corp.
(JPY)
(b) |
11,740 | |||
|
300 |
Sony
Group Corp. (JPY) (b) |
6,253 | |||
|
|
|
26,757 | |||
|
|
Household
Products — 0.8%
|
| |||
|
128 |
Henkel
AG & Co. KGaA
(Preference
Shares) (EUR) (b) |
9,888 | |||
|
|
Independent
Power and
Renewable
Electricity Producers
— 1.1%
|
| |||
|
183 |
RWE
AG (EUR) (b) |
12,312 | |||
|
|
Industrial
Conglomerates — 0.9%
|
| |||
|
300 |
Hitachi
Ltd. (JPY) (b) |
8,801 | |||
|
100 |
Sekisui
Chemical Co., Ltd.
(JPY)
(b) |
1,679 | |||
|
|
|
10,480 | |||
|
|
Insurance
— 8.4%
|
| |||
|
1,115 |
Aegon
Ltd. (EUR) (b) |
8,154 | |||
|
200 |
AIA
Group Ltd. (HKD) (b) |
2,222 | |||
|
14 |
Allianz
SE (EUR) (b) |
5,912 | |||
|
515 |
Beazley
PLC (GBP) (b) |
8,702 | |||
|
700 |
Daiichi
Life Group, Inc.
(JPY)
(b) |
6,455 | |||
|
308 |
Hiscox
Ltd. (GBP) (b) |
6,217 | |||
|
300 |
Japan
Post Insurance Co., Ltd.
(JPY)
(b) |
3,026 | |||
|
400 |
MS&AD
Insurance Group
Holdings,
Inc. (JPY) (b) |
10,438 | |||
|
13 |
Muenchener
Rueckversicherungs-
Gesellschaft
AG in Muenchen
(EUR)
(b) |
8,210 | |||
|
621 |
QBE
Insurance Group Ltd.
(AUD)
(b) |
9,164 | |||
|
16 |
Samsung
Fire & Marine
Insurance
Co., Ltd. (KRW) (b) |
4,793 | |||
|
178 |
SCOR
SE (EUR) (b) |
6,362 | |||
|
Shares |
Description |
Value | |||
|
COMMON
STOCKS (a) (Continued) | |||||
|
|
Insurance
(Continued)
|
| |||
|
100 |
Sompo
Holdings, Inc. (JPY) (b) |
$3,893 | |||
|
300 |
Tokio
Marine Holdings, Inc.
(JPY)
(b) |
14,082 | |||
|
|
|
97,630 | |||
|
|
Interactive
Media & Services —
0.2%
|
| |||
|
19 |
NAVER
Corp. (KRW) (b) |
2,587 | |||
|
|
IT
Services — 0.5%
|
| |||
|
50 |
Capgemini
SE (EUR) (b) |
5,900 | |||
|
|
Machinery
— 8.8%
|
| |||
|
227 |
Alfa
Laval AB (SEK) (b) |
12,417 | |||
|
148 |
ANDRITZ
AG (EUR) (b) |
10,295 | |||
|
475 |
Atlas
Copco AB, Class A
(SEK)
(b) |
8,382 | |||
|
53 |
Daimler
Truck Holding AG
(EUR)
(b) |
2,610 | |||
|
300 |
Ebara
Corp. (JPY) (b) |
8,492 | |||
|
40 |
HD
Korea Shipbuilding &
Offshore
Engineering Co.,
Ltd.
(KRW) (b) |
9,271 | |||
|
100 |
Hitachi
Construction Machinery
Co.,
Ltd. (JPY) (b) |
3,434 | |||
|
300 |
Komatsu
Ltd. (JPY) (b) |
11,946 | |||
|
90 |
Konecranes
Oyj (EUR) (b) |
2,954 | |||
|
200 |
Mitsubishi
Heavy Industries Ltd.
(JPY)
(b) |
5,495 | |||
|
1,000 |
Techtronic
Industries Co., Ltd.
(HKD)
(b) |
13,280 | |||
|
4,600 |
Yangzijiang
Shipbuilding
Holdings
Ltd. (SGD) (b) |
13,664 | |||
|
|
|
102,240 | |||
|
|
Media
— 0.4%
|
| |||
|
58 |
Publicis
Groupe S.A. (EUR) (b) |
4,801 | |||
|
|
Metals
& Mining — 2.4%
|
| |||
|
20 |
Agnico
Eagle Mines Ltd. (CAD) |
4,060 | |||
|
80 |
Anglogold
Ashanti PLC
(ZAR)
(b) |
7,985 | |||
|
65 |
Barrick
Mining Corp. (CAD) |
2,656 | |||
|
58 |
Fresnillo
PLC (GBP) (b) |
2,571 | |||
|
91 |
Lundin
Gold, Inc. (CAD) |
6,954 | |||
|
212 |
Northern
Star Resources Ltd.
(AUD)
(b) |
3,082 | |||
|
|
|
27,308 | |||
|
|
Multi-Utilities
— 0.3%
|
| |||
|
1,085 |
Centrica
PLC (GBP) (b) |
3,072 | |||
|
|
Oil,
Gas & Consumable Fuels —
0.3%
|
| |||
|
29 |
Imperial
Oil Ltd. (CAD) |
3,798 | |||
|
Shares |
Description |
Value | |||
|
| |||||
|
|
Passenger
Airlines — 4.5%
|
| |||
|
500 |
ANA
Holdings, Inc. (JPY) (b) |
$8,955 | |||
|
1,171 |
Deutsche
Lufthansa AG
(EUR)
(b) |
9,972 | |||
|
1,115 |
International
Consolidated
Airlines
Group S.A. (GBP) (b) |
5,247 | |||
|
400 |
Japan
Airlines Co., Ltd.
(JPY)
(b) |
6,530 | |||
|
182 |
Ryanair
Holdings PLC, ADR |
10,520 | |||
|
2,100 |
Singapore
Airlines Ltd.
(SGD)
(b) |
10,829 | |||
|
|
|
52,053 | |||
|
|
Personal
Care Products — 1.3%
|
| |||
|
23 |
Beiersdorf
AG (EUR) (b) |
2,068 | |||
|
25 |
L’Oreal
S.A. (EUR) (b) |
10,207 | |||
|
170 |
Puig
Brands S.A., Class B
(EUR)
(b) |
3,372 | |||
|
|
|
15,647 | |||
|
|
Pharmaceuticals
— 2.4%
|
| |||
|
200 |
Astellas
Pharma, Inc. (JPY) (b) |
3,260 | |||
|
400 |
Daiichi
Sankyo Co., Ltd.
(JPY)
(b) |
7,156 | |||
|
7 |
Roche
Holding AG (CHF) (b) |
2,794 | |||
|
55 |
Sanofi
S.A. (EUR) (b) |
5,311 | |||
|
400 |
Shionogi
& Co., Ltd. (JPY) (b) |
8,849 | |||
|
|
|
27,370 | |||
|
|
Semiconductors
&
Semiconductor
Equipment —
5.3%
|
| |||
|
12 |
ASML
Holding N.V. (EUR) (b) |
15,957 | |||
|
100 |
Lasertec
Corp. (JPY) (b) |
22,258 | |||
|
200 |
SCREEN
Holdings Co., Ltd.
(JPY)
(b) |
11,915 | |||
|
20 |
SK
hynix, Inc. (KRW) (b) |
11,347 | |||
|
|
|
61,477 | |||
|
|
Software
— 1.2%
|
| |||
|
397 |
Dassault
Systemes SE (EUR) (b) |
8,037 | |||
|
38 |
SAP
SE (EUR) (b) |
6,478 | |||
|
|
|
14,515 | |||
|
|
Technology
Hardware, Storage &
Peripherals — 0.7%
|
| |||
|
100 |
Canon,
Inc. (JPY) (b) |
2,775 | |||
|
63 |
Logitech
International S.A.
(CHF)
(b) |
5,850 | |||
|
|
|
8,625 | |||
|
|
Textiles,
Apparel & Luxury Goods
— 0.9%
|
| |||
|
29 |
Cie
Financiere Richemont S.A.,
Class
A (CHF) (b) |
5,121 | |||
|
87 |
Moncler
S.p.A. (EUR) (b) |
5,238 | |||
|
|
|
10,359 | |||
|
Shares |
Description |
Value | |||
|
COMMON
STOCKS (a) (Continued) | |||||
|
|
Trading
Companies & Distributors
— 1.5%
|
| |||
|
72 |
Bunzl
PLC (GBP) (b) |
$2,167 | |||
|
400 |
Toyota
Tsusho Corp. (JPY) (b) |
15,503 | |||
|
|
|
17,670 | |||
|
|
Total
Common Stocks |
1,150,119 | |||
|
|
(Cost
$1,238,766) |
| |||
|
MONEY
MARKET FUNDS — 0.3% | |||||
|
4,068 |
Dreyfus
Government Cash
Management
Fund,
Institutional
Shares -
3.53%
(f) |
4,068 | |||
|
|
(Cost
$4,068) |
| |||
|
| |||||
|
| |||||
|
|
Total
Investments — 99.4% |
1,154,187 | |||
|
|
(Cost
$1,242,834) |
| |||
|
|
Net
Other Assets and
Liabilities
— 0.6% |
6,454 | |||
|
|
Net
Assets — 100.0% |
$1,160,641 | |||
|
(a) |
Securities
are issued in U.S. dollars unless otherwise
indicated
in the security description. |
|
(b) |
This
security is fair valued by the Advisor’s Pricing
Committee
in accordance with procedures approved by the
Trust’s
Board of Trustees, and in accordance with provisions
of
the Investment Company Act of 1940 and rules
thereunder,
as amended. At March 31, 2026, securities noted
as
such are valued at $1,112,813 or 95.9% 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. |
|
(c) |
This
security may be resold to qualified foreign investors and
foreign
institutional buyers under Regulation S of the
Securities
Act of 1933, as amended (the “1933 Act”). |
|
(d) |
This
security is exempt from registration upon resale under
Rule
144A of 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. |
|
(e) |
Non-income
producing security. |
|
(f) |
Rate
shown reflects yield as of March 31,
2026. |
|
Abbreviations
throughout the Portfolio of Investments: | |
|
ADR |
–
American Depositary Receipt |
|
AUD |
–
Australian Dollar |
|
CAD |
–
Canadian Dollar |
|
CHF |
–
Swiss Franc |
|
DKK |
–
Danish Krone |
|
EUR |
–
Euro |
|
GBP |
–
British Pound Sterling |
|
HKD |
–
Hong Kong Dollar |
|
ILS |
–
Israeli Shekel |
|
JPY |
–
Japanese Yen |
|
KRW |
–
South Korean Won |
|
SEK |
–
Swedish Krona |
|
SGD |
–
Singapore Dollar |
|
USD |
–
United States Dollar |
|
ZAR |
–
South African Rand |
|
Currency
Exposure Diversification |
% of Total
Investments |
|
EUR |
31.0% |
|
JPY |
31.0 |
|
KRW |
7.8 |
|
GBP |
6.4 |
|
HKD |
4.7 |
|
SGD |
4.0 |
|
ILS |
3.6 |
|
SEK |
3.5 |
|
CAD |
2.0 |
|
USD |
1.6 |
|
AUD |
1.5 |
|
CHF |
1.4 |
|
DKK |
0.8 |
|
ZAR |
0.7 |
|
Total |
100.0% |
|
Country
Allocation†
|
% of Net
Assets |
|
Japan |
30.9% |
|
South
Korea |
8.0 |
|
France |
7.9 |
|
Germany |
7.8 |
|
United
Kingdom |
6.0 |
|
Singapore |
4.0 |
|
Netherlands |
3.7 |
|
Israel |
3.6 |
|
Sweden |
3.5 |
|
Hong
Kong |
2.9 |
|
Spain |
2.5 |
|
Italy |
2.4 |
|
Ireland |
2.3 |
|
Canada |
2.0 |
|
Cayman
Islands |
1.8 |
|
Greece |
1.7 |
|
Australia |
1.5 |
|
Switzerland |
1.4 |
|
Bermuda |
1.2 |
|
Austria |
1.1 |
|
Luxembourg |
1.1 |
|
Belgium |
0.8 |
|
Denmark |
0.7 |
|
United
States |
0.3 |
|
Finland |
0.3 |
|
Total
Investments |
99.4 |
|
Net
Other Assets and Liabilities |
0.6 |
|
Total |
100.0% |
|
†
|
Portfolio
securities are categorized based upon their country of
incorporation,
which can be different from the country
categorization
of the Fund’s underlying
index. |
|
|
Total
Value at
3/31/2026 |
Level 1
Quoted
Prices |
Level 2
Significant
Observable
Inputs |
Level 3
Significant
Unobservable
Inputs |
|
Common
Stocks: |
|
|
|
|
|
Banks |
$241,013 |
$6,143 |
$234,870 |
$— |
|
Diversified
Telecommunication
Services |
3,175 |
3,175 |
— |
— |
|
Metals
& Mining |
27,308 |
13,670 |
13,638 |
— |
|
Oil,
Gas & Consumable
Fuels |
3,798 |
3,798 |
— |
— |
|
Passenger
Airlines |
52,053 |
10,520 |
41,533 |
— |
|
Other
Industry Categories* |
822,772 |
— |
822,772 |
— |
|
Money
Market Funds |
4,068 |
4,068 |
— |
— |
|
Total
Investments |
$1,154,187 |
$41,374 |
$1,112,813 |
$— |
|
* |
See
Portfolio of Investments for industry
breakout. |
|
|
First Trust RBA
Deglobalization
ETF
(DGLO)
|
First Trust
International
Rising Dividend
Achievers
ETF
(IDVY)
|
|
ASSETS: |
|
|
|
Investments,
at value |
$2,221,006 |
$1,154,187 |
|
Cash |
3,955 |
— |
|
Foreign
currency, at value |
— |
154 |
|
Receivables: |
|
|
|
Dividends |
963 |
6,845 |
|
Reclaims |
— |
57 |
|
Total
Assets |
2,225,924 |
1,161,243 |
|
| ||
|
LIABILITIES: |
|
|
|
Investment
advisory fees payable |
1,334 |
602 |
|
Total
Liabilities |
1,334 |
602 |
|
NET
ASSETS |
$2,224,590 |
$1,160,641 |
|
| ||
|
NET
ASSETS consist of: |
|
|
|
Paid-in
capital |
$1,999,681 |
$1,256,581 |
|
Par
value |
1,000 |
500 |
|
Accumulated
distributable earnings (loss) |
223,909 |
(96,440
) |
|
NET
ASSETS |
$2,224,590 |
$1,160,641 |
|
NET
ASSET VALUE,
per share |
$22.25 |
$23.21 |
|
Number
of shares outstanding (unlimited number of shares authorized, par value
$0.01 per
share) |
100,002 |
50,002 |
|
Investments,
at cost |
$2,153,864 |
$1,242,834 |
|
Foreign
currency, at cost (proceeds) |
$— |
$154 |
|
|
First Trust RBA
Deglobalization
ETF
(DGLO)
|
First Trust
International
Rising Dividend
Achievers
ETF
(IDVY)
(a) |
|
INVESTMENT
INCOME: |
|
|
|
Dividends |
$16,608 |
$8,761 |
|
Foreign
withholding tax |
— |
(1,061
) |
|
Total
investment income |
16,608 |
7,700 |
|
| ||
|
EXPENSES: |
|
|
|
Investment
advisory fees |
7,248
|
976
|
|
Total
expenses |
7,248 |
976 |
|
NET
INVESTMENT INCOME (LOSS) |
9,360 |
6,724 |
|
| ||
|
NET
REALIZED AND UNREALIZED GAIN (LOSS): |
|
|
|
Net
realized gain (loss) on: |
|
|
|
Investments |
(40,378
) |
(13,600
) |
|
In-kind
redemptions |
197,049 |
— |
|
Foreign
currency transactions |
— |
(896
) |
|
Net
realized gain (loss) |
156,671 |
(14,496
) |
|
Net
change in unrealized appreciation (depreciation) on: |
|
|
|
Investments |
36,654 |
(88,647
) |
|
Foreign
currency translation |
— |
(21
) |
|
Net
change in unrealized appreciation (depreciation) |
36,654 |
(88,668
) |
|
NET
REALIZED AND UNREALIZED GAIN (LOSS) |
193,325 |
(103,164
) |
|
NET
INCREASE (DECREASE) IN NET ASSETS RESULTING FROM
OPERATIONS |
$202,685 |
$(96,440
) |
|
(a) |
Inception
date is February 10, 2026, which is consistent with the commencement of
investment operations and is the date the
initial
creation units were
established. |
|
|
First Trust RBA
Deglobalization
ETF
(DGLO) |
First Trust
International
Rising
Dividend
Achievers ETF
(IDVY) | |
|
|
Six Months
Ended
3/31/2026
(Unaudited) |
Period
Ended
9/30/2025 (a) |
Period
Ended
3/31/2026 (b)
(Unaudited) |
|
OPERATIONS: |
|
|
|
|
Net
investment income (loss) |
$9,360 |
$2,090 |
$6,724 |
|
Net
realized gain (loss) |
156,671 |
26 |
(14,496
) |
|
Net
change in unrealized appreciation (depreciation) |
36,654 |
30,488 |
(88,668
) |
|
Net
increase (decrease) in net assets resulting from
operations |
202,685 |
32,604 |
(96,440
) |
|
| |||
|
DISTRIBUTIONS
TO SHAREHOLDERS FROM: |
|
|
|
|
Investment
operations |
(11,380
) |
— |
— |
|
| |||
|
SHAREHOLDER
TRANSACTIONS: |
|
|
|
|
Proceeds
from shares sold |
3,113,789
|
995,638
|
1,257,081
|
|
Cost
of shares redeemed |
(2,108,746
) |
—
|
—
|
|
Net
increase (decrease) in net assets resulting from shareholder
transactions |
1,005,043 |
995,638 |
1,257,081 |
|
Total
increase (decrease) in net assets |
1,196,348 |
1,028,242 |
1,160,641 |
|
| |||
|
NET
ASSETS: |
|
|
|
|
Beginning
of period |
1,028,242 |
— |
— |
|
End
of period |
$2,224,590 |
$1,028,242 |
$1,160,641 |
|
| |||
|
CHANGES
IN SHARES OUTSTANDING: |
|
|
|
|
Shares
outstanding, beginning of period |
50,002 |
— |
— |
|
Shares
sold |
150,000 |
50,002 |
50,002 |
|
Shares
redeemed |
(100,000
) |
— |
— |
|
Shares
outstanding, end of period |
100,002 |
50,002 |
50,002 |
|
(a) |
Inception
date is August 6, 2025, which is consistent with the commencement of
investment operations and is the date the initial
creation
units were established. |
|
(b) |
Inception
date is February 10, 2026, which is consistent with the commencement of
investment operations and is the date the
initial
creation units were
established. |
|
|
Six Months
Ended
3/31/2026
(Unaudited) |
Period
Ended
9/30/2025
(a) |
|
| ||
|
Net
asset value, beginning of period |
$20.56 |
$19.91 |
|
Income
from investment operations: |
|
|
|
Net
investment income (loss) (b) |
0.10
|
0.04
|
|
Net
realized and unrealized gain (loss) |
1.70
|
0.61
|
|
Total
from investment operations |
1.80
|
0.65
|
|
Distributions
paid to shareholders from: |
|
|
|
Net
investment income |
(0.11
) |
—
|
|
Net
asset value, end of period |
$22.25
|
$20.56
|
|
Total
return
(c) |
8.81
% |
3.26
% |
|
| ||
|
Ratios
to average net assets/supplemental data: |
|
|
|
Net
assets, end of period (in 000’s) |
$2,225
|
$1,028
|
|
Ratio
of total expenses to average net assets |
0.70
% (d) |
0.70
% (d) |
|
Ratio
of net investment income (loss) to average net
assets |
0.90
% (d) |
1.36
% (d) |
|
Portfolio
turnover rate (e) |
56
% |
0
% |
|
(a) |
Inception
date is August 6, 2025, which is consistent with the commencement of
investment operations and is the date the initial creation units
were
established. |
|
(b) |
Based
on average shares outstanding. |
|
(c) |
Total
return is calculated assuming an initial investment made at the net asset
value at the beginning of the period, reinvestment of all
distributions
at net asset value during the period, and redemption at net asset value on
the last day of the period. The returns presented do not
reflect
the deduction of taxes that a shareholder would pay on Fund distributions
or the redemption or sale of Fund shares. Total return is
calculated
for the time period presented and is not annualized for periods of less
than a year. |
|
(d) |
Annualized. |
|
(e) |
Portfolio
turnover is calculated for the time period presented and is not annualized
for periods of less than a year and does not include securities
received
or delivered from processing creations or redemptions and in-kind
transactions. |
|
|
Period
Ended
3/31/2026
(a)
(Unaudited) |
|
| |
|
Net
asset value, beginning of period |
$25.13 |
|
Income
from investment operations: |
|
|
Net
investment income (loss) (b) |
0.13
|
|
Net
realized and unrealized gain (loss) |
(2.05
) |
|
Total
from investment operations |
(1.92
) |
|
Net
asset value, end of period |
$23.21
|
|
Total
return
(c) |
(7.64
)% |
|
| |
|
Ratios
to average net assets/supplemental data: |
|
|
Net
assets, end of period (in 000’s) |
$1,161
|
|
Ratio
of total expenses to average net assets |
0.60
% (d) |
|
Ratio
of net investment income (loss) to average net
assets |
4.13
% (d) |
|
Portfolio
turnover rate (e) |
13
% |
|
(a) |
Inception
date is February 10, 2026, which is consistent with the commencement of
investment operations and is the date the initial creation
units
were established. |
|
(b) |
Based
on average shares outstanding. |
|
(c) |
Total
return is calculated assuming an initial investment made at the net asset
value at the beginning of the period, reinvestment of all
distributions
at net asset value during the period, and redemption at net asset value on
the last day of the period. The return presented does not
reflect
the deduction of taxes that a shareholder would pay on Fund distributions
or the redemption or sale of Fund shares. Total return is
calculated
for the time period presented and is not annualized for periods of less
than a year. |
|
(d) |
Annualized. |
|
(e) |
Portfolio
turnover is calculated for the time period presented and is not annualized
for periods of less than a year and does not include securities
received
or delivered from processing creations or redemptions and in-kind
transactions. |
|
First
Trust RBA Deglobalization ETF – (ticker “DGLO”) |
|
First
Trust International Rising Dividend Achievers ETF – (ticker
“IDVY”)(1)
|
|
(1)
|
Commenced
investment operations on February 10,
2026. |
|
Undistributed
ordinary income |
$2,116 |
|
Accumulated
capital and other gain (loss) |
— |
|
Net
unrealized appreciation (depreciation) |
30,488 |
|
|
Tax
Cost |
Gross
Unrealized
Appreciation |
Gross
Unrealized
(Depreciation) |
Net
Unrealized
Appreciation
(Depreciation) |
|
First
Trust RBA Deglobalization ETF |
$2,153,864 |
$215,522 |
$(148,380
) |
$67,142 |
|
First
Trust International Rising Dividend Achievers ETF |
1,242,834 |
19,784 |
(108,431
) |
(88,647
) |
|
Fund
|
Licensor |
|
First
Trust RBA Deglobalization ETF |
Richard
Bernstein Advisors LLC |
|
First
Trust International Rising Dividend Achievers ETF |
Nasdaq,
Inc. |
|
Breakpoints |
|
|
Fund
net assets up to and including $2.5 billion |
0.7000
% |
|
Fund
net assets greater than $2.5 billion up to and including $5
billion |
0.6825
% |
|
Fund
net assets greater than $5 billion up to and including $7.5
billion |
0.6650
% |
|
Fund
net assets greater than $7.5 billion up to and including $10
billion |
0.6475
% |
|
Fund
net assets greater than $10 billion up to and including $15
billion |
0.6300
% |
|
Fund
net assets greater than $15 billion |
0.5955
% |
|
Breakpoints |
|
|
Fund
net assets up to and including $2.5 billion |
0.6000
% |
|
Fund
net assets greater than $2.5 billion up to and including $5
billion |
0.5850
% |
|
Fund
net assets greater than $5 billion up to and including $7.5
billion |
0.5700
% |
|
Fund
net assets greater than $7.5 billion up to and including $10
billion |
0.5550
% |
|
Fund
net assets greater than $10 billion up to and including $15
billion |
0.5400
% |
|
|
Purchases |
Sales |
|
First
Trust RBA Deglobalization ETF |
$1,096,641 |
$1,205,142 |
|
First
Trust International Rising Dividend Achievers ETF |
267,765 |
159,212 |
|
|
Purchases |
Sales |
|
First
Trust RBA Deglobalization ETF |
$3,102,556 |
$1,991,672 |
|
First
Trust International Rising Dividend Achievers ETF |
1,143,813 |
— |