NPORT-EX 2 edgar.htm HORIZON 4-30-21 NPORT PART F
First Trust Horizon Managed Volatility Domestic ETF (HUSV)
Portfolio of Investments
April 30, 2021 (Unaudited)
Shares   Description   Value
COMMON STOCKS – 95.6%
    Aerospace & Defense – 2.9%    
5,652   General Dynamics Corp.   $1,075,180
2,508   Lockheed Martin Corp.   954,444
3,815   Northrop Grumman Corp.   1,352,189
        3,381,813
    Air Freight & Logistics – 1.4%    
15,248   Expeditors International of Washington, Inc.   1,675,145
    Beverages – 1.8%    
5,723   Coca-Cola (The) Co.   308,927
12,418   PepsiCo, Inc.   1,790,179
        2,099,106
    Biotechnology – 1.0%    
4,661   Amgen, Inc.   1,116,962
    Capital Markets – 3.1%    
13,072   Intercontinental Exchange, Inc.   1,538,705
2,597   Moody’s Corp.   848,466
7,508   Nasdaq, Inc.   1,212,842
        3,600,013
    Chemicals – 2.1%    
4,996   Linde PLC   1,428,057
3,515   Sherwin-Williams (The) Co.   962,653
        2,390,710
    Commercial Services &
Supplies – 3.0% 		   
16,901   Republic Services, Inc.   1,796,576
12,205   Waste Management, Inc.   1,683,924
        3,480,500
    Communications Equipment – 4.2%    
52,058   Cisco Systems, Inc.   2,650,273
11,992   Motorola Solutions, Inc.   2,258,093
        4,908,366
    Containers & Packaging – 0.7%    
8,868   Ball Corp.   830,400
    Diversified Financial Services – 1.7%    
7,013   Berkshire Hathaway, Inc., Class B (a)   1,928,224
    Diversified Telecommunication
Services – 3.9% 		   
64,343   AT&T, Inc.   2,021,014
43,412   Verizon Communications, Inc.   2,508,779
        4,529,793
Shares   Description   Value
    Electric Utilities – 5.6%    
27,357   American Electric Power Co., Inc.   $2,426,839
16,688   Duke Energy Corp.   1,680,315
35,998   Southern (The) Co.   2,381,988
        6,489,142
    Food & Staples Retailing – 2.6%    
4,724   Costco Wholesale Corp.   1,757,753
9,361   Walmart, Inc.   1,309,698
        3,067,451
    Food Products – 5.5%    
10,700   Conagra Brands, Inc.   396,863
9,468   General Mills, Inc.   576,223
13,637   Hershey (The) Co.   2,240,559
12,499   Hormel Foods Corp.   577,454
17,948   Kellogg Co.   1,120,314
23,411   Mondelez International, Inc., Class A   1,423,623
        6,335,036
    Health Care Equipment &
Supplies – 2.5% 		   
18,474   Baxter International, Inc.   1,583,037
5,179   Becton Dickinson and Co.   1,288,587
        2,871,624
    Health Care Technology – 1.5%    
22,817   Cerner Corp.   1,712,416
    Hotels, Restaurants &
Leisure – 4.2% 		   
2,551   Domino’s Pizza, Inc.   1,077,389
9,906   McDonald’s Corp.   2,338,609
12,317   Yum! Brands, Inc.   1,472,128
        4,888,126
    Household Durables – 1.0%    
8,939   Garmin Ltd.   1,226,788
    Household Products – 6.7%    
6,842   Church & Dwight Co., Inc.   586,633
34,592   Colgate-Palmolive Co.   2,791,574
13,714   Kimberly-Clark Corp.   1,828,351
19,368   Procter & Gamble (The) Co.   2,584,079
        7,790,637
    Industrial Conglomerates – 1.6%    
4,959   3M Co.   977,617
3,882   Honeywell International, Inc.   865,842
        1,843,459
    Insurance – 6.3%    
14,105   Allstate (The) Corp.   1,788,514
 
First Trust Horizon Managed Volatility Domestic ETF (HUSV)
Portfolio of Investments (Continued)
April 30, 2021 (Unaudited)
Shares   Description   Value
COMMON STOCKS (Continued)
    Insurance (Continued)    
4,923   Aon PLC, Class A   $1,237,839
9,650   Arthur J. Gallagher & Co.   1,398,767
14,541   Marsh & McLennan Cos., Inc.   1,973,214
9,363   Progressive (The) Corp.   943,229
        7,341,563
    IT Services – 9.7%    
7,495   Accenture PLC, Class A   2,173,325
11,337   Automatic Data Processing, Inc.   2,119,906
14,094   Broadridge Financial Solutions, Inc.   2,235,731
22,856   Paychex, Inc.   2,228,231
11,587   VeriSign, Inc. (a)   2,534,888
        11,292,081
    Life Sciences Tools &
Services – 1.2% 		   
10,263   Agilent Technologies, Inc.   1,371,547
    Machinery – 2.6%    
9,975   Dover Corp.   1,488,170
6,478   Illinois Tool Works, Inc.   1,492,920
        2,981,090
    Multiline Retail – 1.0%    
5,687   Dollar General Corp.   1,221,283
    Multi-Utilities – 5.2%    
16,524   Ameren Corp.   1,401,896
26,391   CMS Energy Corp.   1,699,316
21,439   Consolidated Edison, Inc.   1,659,593
15,693   Dominion Energy, Inc.   1,253,871
        6,014,676
    Pharmaceuticals – 6.6%    
24,549   Bristol-Myers Squibb Co.   1,532,349
17,362   Johnson & Johnson   2,825,318
26,981   Merck & Co., Inc.   2,010,085
32,654   Pfizer, Inc.   1,262,077
        7,629,829
    Professional Services – 0.9%    
5,348   Verisk Analytics, Inc.   1,006,494
    Software – 2.4%    
36,984   Oracle Corp.   2,803,017
    Specialty Retail – 2.7%    
626   AutoZone, Inc. (a)   916,539
3,727   Home Depot (The), Inc.   1,206,318
1,879   O’Reilly Automotive, Inc. (a)   1,038,862
        3,161,719
    Total Common Stocks   110,989,010
    (Cost $99,891,782)    
Shares   Description   Value
REAL ESTATE INVESTMENT TRUSTS – 4.1%
    Equity Real Estate Investment
Trusts – 4.1% 		   
6,642   Alexandria Real Estate Equities, Inc.   $1,202,866
29,697   Duke Realty Corp.   1,381,504
3,925   Public Storage   1,103,553
15,590   Realty Income Corp.   1,078,049
    Total Real Estate Investment Trusts   4,765,972
    (Cost $4,298,175)    
    Total Investments – 99.7%   115,754,982
    (Cost $104,189,957) (b)    
    Net Other Assets and Liabilities – 0.3%   293,666
    Net Assets – 100.0%   $116,048,648
    
(a) Non-income producing security.
(b) Aggregate cost for financial reporting purposes approximates the aggregate cost for federal income tax purposes. As of April 30, 2021, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $12,230,395 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $665,370. The net unrealized appreciation was $11,565,025.
Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of April 30, 2021 is as follows (see Valuation Inputs in the Additional Information section):
  Total
Value at
4/30/2021 		Level 1
Quoted
Prices 		Level 2
Significant
Observable
Inputs 		Level 3
Significant
Unobservable
Inputs
Common Stocks* $ 110,989,010 $ 110,989,010 $ — $ —
Real Estate Investment Trusts*  4,765,972  4,765,972  —  —
Total Investments $ 115,754,982 $ 115,754,982 $— $—
    
* See Portfolio of Investments for industry breakout.
 
First Trust Horizon Managed Volatility Developed International ETF (HDMV)
Portfolio of Investments
April 30, 2021 (Unaudited)
Shares   Description   Value
COMMON STOCKS (a) – 96.1%
    Australia – 6.2%    
11,718   ASX Ltd.   $658,788
475,772   AusNet Services   694,538
16,269   Australia & New Zealand Banking Group Ltd.   360,193
59,236   Brambles Ltd.   474,577
49,275   Coles Group Ltd.   619,491
5,968   Commonwealth Bank of Australia   409,357
186,596   Medibank Pvt Ltd.   442,732
12,216   National Australia Bank Ltd.   250,886
196,632   Telstra Corp., Ltd.   513,502
10,837   Wesfarmers Ltd.   451,726
13,995   Westpac Banking Corp.   269,311
14,092   Woolworths Group Ltd.   426,632
        5,571,733
    Belgium – 1.4%    
12,989   Etablissements Franz Colruyt N.V.   770,339
4,154   Groupe Bruxelles Lambert S.A.   454,367
        1,224,706
    Bermuda – 1.2%    
80,186   CK Infrastructure Holdings Ltd.   491,372
118,900   Hongkong Land Holdings Ltd.   588,555
        1,079,927
    Denmark – 1.1%    
1,835   Carlsberg A.S., Class B   322,031
4,933   Novo Nordisk A.S., Class B   361,318
4,140   Novozymes A.S., Class B   294,701
        978,050
    France – 7.3%    
3,710   Air Liquide S.A.   624,984
3,126   Arkema S.A.   390,856
14,293   Bureau Veritas S.A. (b)   427,360
4,148   Danone S.A.   292,384
1,238   Dassault Systemes SE   287,184
1,766   EssilorLuxottica S.A.   293,847
535   Hermes International   671,505
3,315   Legrand S.A.   322,822
1,479   L’Oreal S.A.   607,498
42,323   Orange S.A.   526,637
3,025   Pernod Ricard S.A.   620,803
5,345   Sanofi   560,799
1,771   Schneider Electric SE   283,224
3,376   SEB S.A.   614,908
        6,524,811
    Germany – 9.0%    
1,476   Allianz SE   384,006
7,038   Beiersdorf AG   794,529
3,229   Deutsche Boerse AG   556,300
37,647   Deutsche Telekom AG   724,178
Shares   Description   Value
    Germany (Continued)    
57,266   E.ON SE   $690,270
14,862   Evonik Industries AG   520,311
4,326   Fresenius Medical Care AG & Co., KGaA   344,094
5,390   Henkel AG & Co., KGaA   535,907
4,878   Knorr-Bremse AG   598,187
3,001   LEG Immobilien SE   417,440
2,078   Merck KGaA   365,123
7,166   Siemens Healthineers AG (c) (d)   409,056
3,371   Symrise AG   435,269
124,600   Telefonica Deutschland Holding AG   362,217
11,047   Uniper SE   402,953
7,324   Vonovia SE   481,120
        8,020,960
    Hong Kong – 7.4%    
148,612   CLP Holdings, Ltd.   1,466,462
26,793   Hang Seng Bank Ltd.   526,012
71,460   Henderson Land Development Co., Ltd.   317,845
911,270   Hong Kong & China Gas Co., Ltd.   1,461,739
108,433   MTR Corp., Ltd.   604,441
1,335,419   PCCW Ltd.   773,633
242,498   Power Assets Holdings Ltd.   1,490,687
        6,640,819
    Ireland – 0.3%    
2,183   Kerry Group PLC, Class A   282,922
    Israel – 0.8%    
45,639   Bank Hapoalim BM (b)   363,892
73,031   Israel Discount Bank Ltd., Class A   330,043
        693,935
    Italy – 2.2%    
22,952   Assicurazioni Generali S.p.A.   460,406
175,267   Snam S.p.A.   986,145
74,571   Terna S.p.A   549,573
        1,996,124
    Japan – 22.6%    
12,500   Astellas Pharma, Inc.   187,632
9,600   Calbee, Inc.   230,052
34,500   Chubu Electric Power Co., Inc.   416,847
78,400   Chugoku Electric Power (The) Co., Inc.   875,176
47,700   Daiwa Securities Group, Inc.   254,060
139,400   ENEOS Holdings, Inc.   601,018
25,500   Idemitsu Kosan Co., Ltd.   610,609
18,600   ITOCHU Corp.   580,005
5,600   Itochu Techno-Solutions Corp.   194,199
38,800   Japan Post Bank Co., Ltd.   354,664
44,600   Japan Tobacco, Inc.   834,133
 
First Trust Horizon Managed Volatility Developed International ETF (HDMV)
Portfolio of Investments (Continued)
April 30, 2021 (Unaudited)
Shares   Description   Value
COMMON STOCKS (a) (Continued)
    Japan (Continued)    
29,100   Kansai Electric Power (The) Co., Inc.   $288,098
12,000   Kansai Paint Co. Ltd.   302,278
9,200   Kao Corp.   589,847
11,800   KDDI Corp.   356,948
6,200   Keihan Holdings Co., Ltd.   226,068
9,600   Kirin Holdings Co., Ltd.   180,115
2,800   Kobayashi Pharmaceutical Co., Ltd.   249,794
3,900   Kyocera Corp.   236,841
6,400   Lawson, Inc.   286,943
30,800   McDonald’s Holdings Co., Japan Ltd.   1,406,277
12,000   Medipal Holdings Corp.   220,478
17,700   MEIJI Holdings Co., Ltd.   1,096,431
17,600   Mitsubishi Corp.   486,339
29,000   Mitsubishi Electric Corp.   446,317
23,900   Mizuho Financial Group, Inc.   335,680
11,100   MS&AD Insurance Group Holdings, Inc.   314,343
20,500   Nagoya Railroad Co., Ltd.   470,061
6,700   NH Foods Ltd.   298,861
15,400   Nippon Telegraph & Telephone Corp.   388,206
6,500   Nissin Foods Holdings Co., Ltd.   460,930
10,200   Ono Pharmaceutical Co., Ltd.   256,750
18,500   Osaka Gas Co., Ltd.   356,830
7,100   Otsuka Holdings Co., Ltd.   272,917
5,900   Secom Co., Ltd.   489,966
14,900   Sega Sammy Holdings, Inc.   213,909
10,100   Sekisui House Ltd.   204,144
64,400   Shizuoka Bank (The), Ltd.   493,209
79,900   Softbank Corp.   1,030,461
4,800   Sohgo Security Services Co., Ltd.   210,376
5,700   Sundrug Co., Ltd.   194,277
9,500   Suntory Beverage & Food Ltd.   320,752
5,200   Taisho Pharmaceutical Holdings Co., Ltd.   306,414
5,200   Takeda Pharmaceutical Co., Ltd.   172,953
17,100   Teijin Ltd.   281,323
36,700   Tohoku Electric Power Co., Inc.   323,379
6,600   Toyota Motor Corp.   490,788
1,800   Tsuruha Holdings, Inc.   207,851
5,200   Unicharm Corp.   201,929
9,700   USS Co., Ltd.   175,823
57,900   Yamada Holdings Co., Ltd.   288,202
        20,271,503
    Netherlands – 4.3%    
3,889   Akzo Nobel N.V.   467,181
37,438   Davide Campari-Milano N.V.   441,637
36,202   Koninklijke Ahold Delhaize N.V.   974,499
2,732   Koninklijke DSM N.V.   490,054
13,323   Koninklijke Vopak N.V.   610,270
Shares   Description   Value
    Netherlands (Continued)    
9,171   Wolters Kluwer N.V.   $829,804
        3,813,445
    New Zealand – 0.5%    
150,143   Spark New Zealand Ltd.   472,746
    Norway – 1.1%    
45,807   Orkla ASA   467,535
29,170   Telenor ASA   520,217
        987,752
    Singapore – 6.2%    
17,200   DBS Group Holdings Ltd.   386,588
110,200   Oversea-Chinese Banking Corp., Ltd.   1,010,287
72,100   Singapore Exchange Ltd.   566,181
267,900   Singapore Technologies Engineering Ltd.   777,076
341,300   Singapore Telecommunications Ltd.   641,180
62,200   United Overseas Bank Ltd.   1,242,831
96,600   UOL Group Ltd.   558,948
27,500   Venture Corp. Ltd.   416,401
        5,599,492
    Spain – 2.6%    
34,627   Enagas S.A.   754,341
19,944   Endesa S.A.   524,152
38,273   Iberdrola S.A.   516,964
28,091   Red Electrica Corp. S.A.   515,874
        2,311,331
    Sweden – 3.7%    
15,413   Essity AB, Class B   503,052
11,132   ICA Gruppen AB   512,841
6,203   Industrivarden AB, Class A   237,992
4,942   Investor AB, Class B   419,678
7,288   L E Lundbergforetagen AB, Class B   416,504
14,531   Securitas AB, Class B   247,946
29,924   Tele2 AB, Class B   386,530
143,520   Telia Co., AB   594,048
        3,318,591
    Switzerland – 10.2%    
11,252   ABB Ltd.   365,313
3,152   Baloise Holding AG   532,898
7,284   Banque Cantonale Vaudoise   742,557
1,274   Geberit AG   837,569
12,185   Nestle S.A.   1,452,727
10,523   Novartis AG   898,301
1,626   Roche Holding AG   529,863
1,820   Roche Holding AG   632,142
1,747   Schindler Holding AG   496,984
6,802   Swiss Prime Site AG   661,021
2,733   Swisscom AG   1,482,239
 
First Trust Horizon Managed Volatility Developed International ETF (HDMV)
Portfolio of Investments (Continued)
April 30, 2021 (Unaudited)
Shares   Description   Value
COMMON STOCKS (a) (Continued)
    Switzerland (Continued)    
1,181   Zurich Insurance Group AG   $484,556
        9,116,170
    United Kingdom – 8.0%    
17,095   Admiral Group PLC   738,727
7,076   British American Tobacco PLC   262,093
3,285   Croda International PLC   306,866
65,775   Direct Line Insurance Group PLC   258,981
35,666   GlaxoSmithKline PLC   659,840
8,616   Halma PLC   307,949
80,233   J Sainsbury PLC   263,385
50,856   National Grid PLC   639,557
6,281   Reckitt Benckiser Group PLC   559,584
11,238   RELX PLC   291,703
13,631   Severn Trent PLC   466,298
2,137   Spirax-Sarco Engineering PLC   348,697
148,340   Tesco PLC   452,752
10,902   Unilever PLC   637,103
22,313   United Utilities Group PLC   298,354
265,203   Wm Morrison Supermarkets PLC   636,741
        7,128,630
    Total Common Stocks   86,033,647
    (Cost $82,750,894)    
REAL ESTATE INVESTMENT TRUSTS (a) – 2.8%
    Hong Kong – 0.7%    
68,695   Link REIT   649,564
    Singapore – 1.6%    
263,200   Mapletree Commercial Trust   433,145
380,800   Mapletree Logistics Trust   569,447
360,700   Suntec Real Estate Investment Trust   414,707
        1,417,299
    United Kingdom – 0.5%    
31,281   Segro PLC   434,382
    Total Real Estate Investment Trusts   2,501,245
    (Cost $2,405,958)    
    Total Investments – 98.9%   88,534,892
    (Cost $85,156,852) (e)    
    Net Other Assets and Liabilities – 1.1%   1,003,776
    Net Assets – 100.0%   $89,538,668
    
(a) Portfolio securities are categorized based upon their country of incorporation. For a breakdown of the portfolio securities by sector, please see the Sector Allocation table.
(b) Non-income producing security.
(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. As such, it does not require the additional disclosure required of restricted securities.
(e) Aggregate cost for financial reporting purposes approximates the aggregate cost for federal income tax purposes. As of April 30, 2021, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $5,539,166 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $2,161,126. The net unrealized appreciation was $3,378,040.
Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of April 30, 2021 is as follows (see Valuation Inputs in the Additional Information section):
  Total
Value at
4/30/2021 		Level 1
Quoted
Prices 		Level 2
Significant
Observable
Inputs 		Level 3
Significant
Unobservable
Inputs
Common Stocks* $ 86,033,647 $ 86,033,647 $ — $ —
Real Estate Investment Trusts*  2,501,245  2,501,245  —  —
Total Investments $ 88,534,892 $ 88,534,892 $— $—
    
* See Portfolio of Investments for country breakout.
    
Currency Exposure
Diversification 		% of Total
Investments
Euro 27.3%
Japanese Yen 22.9
Swiss Franc 10.3
Hong Kong Dollar 8.8
British Pound Sterling 8.5
Singapore Dollar 7.9
Australian Dollar 6.3
Swedish Krona 3.8
Norwegian Krone 1.1
Danish Krone 1.1
Israeli Shekel 0.8
United States Dollar 0.7
New Zealand Dollar 0.5
Total 100.0%
    
 
First Trust Horizon Managed Volatility Developed International ETF (HDMV)
Portfolio of Investments (Continued)
April 30, 2021 (Unaudited)
Sector Allocation % of Total
Investments
Consumer Staples 19.9%
Financials 16.1
Utilities 16.1
Industrials 11.1
Communication Services 9.9
Health Care 7.0
Real Estate 6.2
Consumer Discretionary 5.4
Materials 4.6
Energy 2.1
Information Technology 1.6
Total 100.0%
First Trust Horizon Managed Volatility Small/Mid ETF (HSMV)
Portfolio of Investments
April 30, 2021 (Unaudited)
Shares   Description   Value
COMMON STOCKS – 84.6%
    Aerospace & Defense – 0.6%    
256   Curtiss-Wright Corp.   $32,742
645   Mercury Systems, Inc. (a)   48,530
        81,272
    Auto Components – 1.2%    
3,039   Gentex Corp.   106,912
390   Lear Corp.   71,698
        178,610
    Banks – 1.3%    
1,020   Commerce Bancshares, Inc.   79,366
253   Cullen/Frost Bankers, Inc.   30,375
646   Prosperity Bancshares, Inc.   47,391
1,708   Umpqua Holdings Corp.   31,837
        188,969
    Biotechnology – 0.8%    
576   United Therapeutics Corp. (a)   116,099
    Building Products – 1.4%    
343   Lennox International, Inc.   115,021
364   Owens Corning   35,239
531   Simpson Manufacturing Co., Inc.   59,844
        210,104
    Capital Markets – 2.8%    
203   Affiliated Managers Group, Inc.   32,718
379   Evercore, Inc., Class A   53,109
346   FactSet Research Systems, Inc.   116,332
1,990   Jefferies Financial Group, Inc.   64,695
1,810   SEI Investments Co.   111,206
525   Stifel Financial Corp.   36,325
        414,385
    Chemicals – 3.7%    
1,076   Ashland Global Holdings, Inc.   92,762
737   HB Fuller Co.   49,246
166   Quaker Chemical Corp.   40,230
1,181   RPM International, Inc.   112,006
188   Scotts Miracle-Gro (The) Co.   43,458
1,221   Sensient Technologies Corp.   100,415
3,564   Valvoline, Inc.   111,910
        550,027
    Commercial Services &
Supplies – 2.5% 		   
451   Clean Harbors, Inc. (a)   40,121
984   Healthcare Services Group, Inc.   29,471
1,256   IAA, Inc. (a)   78,889
617   MSA Safety, Inc.   99,189
1,140   Stericycle, Inc. (a)   86,959
269   Tetra Tech, Inc.   34,333
        368,962
Shares   Description   Value
    Communications Equipment – 1.1%    
1,175   Ciena Corp. (a)   $59,302
5,810   Viavi Solutions, Inc. (a)   95,052
        154,354
    Construction & Engineering – 0.7%    
327   EMCOR Group, Inc.   39,175
273   Valmont Industries, Inc.   67,390
        106,565
    Construction Materials – 0.3%    
273   Eagle Materials, Inc.   37,712
    Consumer Finance – 0.6%    
660   FirstCash, Inc.   47,540
1,951   SLM Corp.   38,356
        85,896
    Containers & Packaging – 1.5%    
767   AptarGroup, Inc.   115,671
1,713   Sonoco Products Co.   112,133
        227,804
    Diversified Consumer
Services – 2.4% 		   
1,824   Adtalem Global Education, Inc. (a)   62,581
1,002   Grand Canyon Education, Inc. (a)   108,507
3,092   H&R Block, Inc.   68,828
2,135   Service Corp. International   114,094
        354,010
    Electric Utilities – 2.1%    
1,076   ALLETE, Inc.   75,707
1,104   IDACORP, Inc.   113,138
3,382   OGE Energy Corp.   113,500
        302,345
    Electrical Equipment – 1.5%    
281   EnerSys   25,734
577   Hubbell, Inc.   110,790
1,060   nVent Electric PLC   32,277
327   Regal Beloit Corp.   47,228
        216,029
    Electronic Equipment,
Instruments & Components – 3.8% 		   
969   Arrow Electronics, Inc. (a)   110,534
1,526   Avnet, Inc.   67,022
350   Badger Meter, Inc.   32,686
706   Cognex Corp.   60,801
735   Jabil, Inc.   38,529
 
First Trust Horizon Managed Volatility Small/Mid ETF (HSMV)
Portfolio of Investments (Continued)
April 30, 2021 (Unaudited)
Shares   Description   Value
COMMON STOCKS (Continued)
    Electronic Equipment,
Instruments & Components (Continued) 		   
229   Littelfuse, Inc.   $60,740
2,477   National Instruments Corp.   102,572
319   SYNNEX Corp.   38,663
1,652   Vishay Intertechnology, Inc.   40,590
        552,137
    Entertainment – 0.4%    
1,061   World Wrestling Entertainment, Inc., Class A   58,472
    Food & Staples Retailing – 1.8%    
633   BJ’s Wholesale Club Holdings, Inc. (a)   28,276
505   Casey’s General Stores, Inc.   112,206
1,687   Grocery Outlet Holding Corp. (a)   68,138
2,251   Sprouts Farmers Market, Inc. (a)   57,648
        266,268
    Food Products – 3.9%    
4,620   Flowers Foods, Inc.   110,695
2,055   Hain Celestial Group (The), Inc. (a)   84,276
1,181   Ingredion, Inc.   110,317
421   J&J Snack Foods Corp.   69,301
1,031   Post Holdings, Inc. (a)   117,307
1,139   Tootsie Roll Industries, Inc.   35,958
910   TreeHouse Foods, Inc. (a)   43,316
        571,170
    Gas Utilities – 3.2%    
2,209   National Fuel Gas Co.   109,699
808   New Jersey Resources Corp.   33,896
641   Northwest Natural Holding Co.   34,563
1,154   South Jersey Industries, Inc.   28,562
1,320   Southwest Gas Holdings, Inc.   92,030
1,498   Spire, Inc.   112,859
1,379   UGI Corp.   60,276
        471,885
    Health Care Equipment &
Supplies – 4.0% 		   
246   CONMED Corp.   34,674
1,453   Globus Medical, Inc., Class A (a)   104,282
322   Haemonetics Corp. (a)   21,658
1,010   Hill-Rom Holdings, Inc.   111,322
542   ICU Medical, Inc. (a)   112,882
878   Integra LifeSciences Holdings Corp. (a)   65,042
447   Masimo Corp. (a)   104,004
441   NuVasive, Inc. (a)   31,509
        585,373
Shares   Description   Value
    Health Care Providers &
Services – 3.2% 		   
248   Amedisys, Inc. (a)   $66,923
456   AMN Healthcare Services, Inc. (a)   36,161
237   Chemed Corp.   112,957
1,315   Encompass Health Corp.   111,591
270   LHC Group, Inc. (a)   56,233
205   Molina Healthcare, Inc. (a)   52,295
1,427   R1 RCM, Inc. (a)   38,928
        475,088
    Hotels, Restaurants &
Leisure – 3.3% 		   
742   Choice Hotels International, Inc.   84,439
629   Jack in the Box, Inc.   75,889
683   Papa John’s International, Inc.   66,060
610   Texas Roadhouse, Inc. (a)   65,282
5,210   Wendy’s (The) Co.   117,590
1,030   Wyndham Hotels & Resorts, Inc.   75,303
        484,563
    Household Durables – 0.9%    
349   Helen of Troy, Ltd. (a)   73,712
1,482   La-Z-Boy, Inc.   65,890
        139,602
    Household Products – 0.7%    
1,083   Energizer Holdings, Inc.   53,392
178   WD-40 Co.   44,276
        97,668
    Industrial Conglomerates – 0.8%    
579   Carlisle Cos., Inc.   110,965
    Insurance – 6.0%    
173   Alleghany Corp. (a)   117,462
322   American Financial Group, Inc.   39,561
2,378   Brown & Brown, Inc.   126,462
1,073   First American Financial Corp.   69,208
844   Hanover Insurance Group (The), Inc.   116,734
1,361   Kemper Corp.   106,240
4,694   Old Republic International Corp.   115,566
509   Primerica, Inc.   81,323
669   RenaissanceRe Holdings Ltd.   112,934
        885,490
    IT Services – 0.7%    
1,194   MAXIMUS, Inc.   109,418
    Leisure Products – 0.6%    
3,863   Mattel, Inc. (a)   82,900
    Life Sciences Tools &
Services – 1.5% 		   
96   Bio-Techne Corp.   41,039
 
First Trust Horizon Managed Volatility Small/Mid ETF (HSMV)
Portfolio of Investments (Continued)
April 30, 2021 (Unaudited)
Shares   Description   Value
COMMON STOCKS (Continued)
    Life Sciences Tools &
Services (Continued) 		   
279   Charles River Laboratories International, Inc. (a)   $92,753
245   Medpace Holdings Inc. (a)   41,572
478   Syneos Health, Inc. (a)   40,558
        215,922
    Machinery – 5.6%    
182   AGCO Corp.   26,557
353   Crane Co.   33,203
1,891   Donaldson Co., Inc.   118,906
1,507   Graco, Inc.   115,737
644   ITT, Inc.   60,736
892   Lincoln Electric Holdings, Inc.   114,221
169   Middleby (The) Corp. (a)   30,643
548   Nordson Corp.   115,853
290   Oshkosh Corp.   36,085
348   Timken (The) Co.   29,187
1,054   Toro (The) Co.   120,788
215   Woodward, Inc.   26,877
        828,793
    Media – 0.8%    
39   Cable One, Inc.   69,810
1,122   New York Times (The) Co., Class A   50,950
        120,760
    Metals & Mining – 1.3%    
481   Reliance Steel & Aluminum Co.   77,109
1,003   Royal Gold, Inc.   112,196
        189,305
    Multi-Utilities – 1.3%    
1,420   Black Hills Corp.   97,952
2,811   MDU Resources Group, Inc.   94,056
        192,008
    Pharmaceuticals – 1.2%    
417   Jazz Pharmaceuticals PLC (a)   68,555
2,587   Prestige Consumer Healthcare, Inc. (a)   112,689
        181,244
    Professional Services – 3.1%    
433   CACI International, Inc., Class A (a)   110,354
1,117   Exponent, Inc.   107,601
763   FTI Consulting, Inc. (a)   105,942
721   KBR, Inc.   28,523
421   Korn Ferry   28,582
421   ManpowerGroup, Inc.   50,895
312   Science Applications International Corp.   27,899
        459,796
Shares   Description   Value
    Road & Rail – 2.4%    
2,237   Knight-Swift Transportation Holdings, Inc.   $105,407
654   Landstar System, Inc.   112,671
360   Ryder System, Inc.   28,742
2,298   Werner Enterprises, Inc.   106,237
        353,057
    Semiconductors &
Semiconductor Equipment – 0.4% 		   
435   Cirrus Logic, Inc. (a)   32,368
113   Universal Display Corp.   25,277
        57,645
    Software – 3.1%    
1,015   ACI Worldwide, Inc. (a)   38,347
542   Blackbaud, Inc. (a)   38,547
1,642   CDK Global, Inc.   87,995
910   CommVault Systems, Inc. (a)   63,254
74   Fair Isaac Corp. (a)   38,584
710   J2 Global, Inc. (a)   85,910
221   PTC, Inc. (a)   28,938
709   SPS Commerce, Inc. (a)   72,630
        454,205
    Specialty Retail – 1.6%    
646   AutoNation, Inc. (a)   66,202
335   Five Below, Inc. (a)   67,426
771   Murphy USA, Inc.   107,477
        241,105
    Textiles, Apparel & Luxury
Goods – 0.9% 		   
712   Carter’s, Inc. (a)   77,459
181   Deckers Outdoor Corp. (a)   61,214
        138,673
    Thrifts & Mortgage Finance – 0.8%    
626   Essent Group Ltd.   32,915
1,000   Flagstar Bancorp, Inc.   46,540
3,475   New York Community Bancorp, Inc.   41,561
        121,016
    Trading Companies &
Distributors – 1.8% 		   
557   GATX Corp.   54,424
991   MSC Industrial Direct Co., Inc., Class A   89,349
410   Watsco, Inc.   120,073
        263,846
    Water Utilities – 0.8%    
2,429   Essential Utilities, Inc.   114,479
 
First Trust Horizon Managed Volatility Small/Mid ETF (HSMV)
Portfolio of Investments (Continued)
April 30, 2021 (Unaudited)
Shares   Description   Value
COMMON STOCKS (Continued)
    Wireless Telecommunication
Services – 0.2% 		   
1,306   Telephone & Data Systems, Inc.   $30,012
    Total Common Stocks   12,446,008
    (Cost $11,433,433)    
REAL ESTATE INVESTMENT TRUSTS – 14.6%
    Equity Real Estate Investment
Trusts – 14.6% 		   
1,613   Agree Realty Corp.   113,491
2,391   American Campus Communities, Inc.   108,097
2,121   Brandywine Realty Trust   28,697
1,002   Camden Property Trust   120,721
896   CoreSite Realty Corp.   108,855
4,132   Corporate Office Properties Trust   115,861
1,032   Cousins Properties, Inc.   37,843
1,573   CyrusOne, Inc.   114,562
1,388   Douglas Emmett, Inc.   46,554
738   EastGroup Properties, Inc.   117,091
2,355   First Industrial Realty Trust, Inc.   117,208
3,528   Healthcare Realty Trust, Inc.   113,460
1,136   Highwoods Properties, Inc.   50,881
1,799   Hudson Pacific Properties, Inc.   50,570
740   Kilroy Realty Corp.   50,720
309   Lamar Advertising Co., Class A   30,603
1,258   Life Storage, Inc.   120,844
5,081   Medical Properties Trust, Inc.   112,036
969   National Retail Properties, Inc.   44,981
1,630   Omega Healthcare Investors, Inc.   61,940
6,054   Physicians Realty Trust   113,391
1,351   PotlatchDeltic Corp.   80,195
2,131   Rexford Industrial Realty, Inc.   118,377
1,301   Spirit Realty Capital, Inc.   61,850
1,811   STORE Capital Corp.   64,816
3,154   Uniti Group, Inc.   35,956
    Total Real Estate Investment Trusts   2,139,600
    (Cost $2,010,485)    
    Total Investments – 99.2%   14,585,608
    (Cost $13,443,918) (b)    
    Net Other Assets and Liabilities – 0.8%   122,143
    Net Assets – 100.0%   $14,707,751
    
(a) Non-income producing security.
(b) Aggregate cost for financial reporting purposes approximates the aggregate cost for federal income tax purposes. As of April 30, 2021, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $1,230,991 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $89,301. The net unrealized appreciation was $1,141,690.
Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of April 30, 2021 is as follows (see Valuation Inputs in the Additional Information section):
  Total
Value at
4/30/2021 		Level 1
Quoted
Prices 		Level 2
Significant
Observable
Inputs 		Level 3
Significant
Unobservable
Inputs
Common Stocks* $ 12,446,008 $ 12,446,008 $ — $ —
Real Estate Investment Trusts*  2,139,600  2,139,600  —  —
Total Investments $ 14,585,608 $ 14,585,608 $— $—
    
* See Portfolio of Investments for industry breakout.
 
Additional Information
First Trust Exchange-Traded Fund III
April 30, 2021 (Unaudited)
Valuation Inputs
The Funds are subject to fair value accounting standards that define fair value, establish the framework for measuring fair value and provide a three-level hierarchy for fair valuation based upon the inputs to the valuation as of the measurement date. The three levels of the fair value hierarchy are as follows:
• Level 1 – Level 1 inputs are quoted prices in active markets for identical investments.
• Level 2 – Level 2 inputs are observable inputs, either directly or indirectly. (Quoted prices for similar investments, valuations based on interest rates and yield curves, or valuations derived from observable market data.)
• Level 3 – Level 3 inputs are unobservable inputs that may reflect the reporting entity’s own assumptions about the assumptions that market participants would use in pricing the investment.
The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in those investments.