NPORT-EX 2 FT35FTNewOppsMLPEnrgy.htm
First Trust New Opportunities MLP & Energy Fund (FPL)
Portfolio of Investments
January 31, 2022 (Unaudited)
Shares   Description   Value
COMMON STOCKS – 65.2%
    Construction & Engineering – 0.6%    
8,600  
Quanta Services, Inc.
  $883,392
    Electric Utilities – 14.7%    
32,400  
Alliant Energy Corp.
  1,939,464
33,070  
American Electric Power Co., Inc. (a)
  2,989,528
11,600  
Duke Energy Corp. (a)
  1,218,696
4,300  
Emera, Inc. (CAD) (a)
  203,744
247,250  
Enel S.p.A., ADR
  1,886,518
5,400  
Eversource Energy
  483,246
65,800  
Exelon Corp.
  3,813,110
4,400  
Fortis, Inc. (CAD) (a)
  209,001
6,200  
Iberdrola S.A., ADR
  284,208
12,700  
IDACORP, Inc.
  1,399,794
13,370  
NextEra Energy, Inc.
  1,044,464
4,490  
Orsted A/S, ADR
  158,632
111,620  
PPL Corp. (a) (b)
  3,312,882
61,480  
Southern (The) Co. (a)
  4,272,245
14,800  
Xcel Energy, Inc.
  1,030,968
        24,246,500
    Gas Utilities – 7.8%    
195,620  
AltaGas Ltd. (CAD) (a)
  4,018,124
17,900  
Atmos Energy Corp. (a)
  1,919,238
8,000  
National Fuel Gas Co.
  485,840
49,670  
New Jersey Resources Corp. (a)
  1,997,231
19,200  
ONE Gas, Inc.
  1,495,488
15,000  
Southwest Gas Holdings, Inc.
  1,022,700
43,240  
UGI Corp. (b)
  1,960,934
        12,899,555
    Independent Power & Renewable Electricity Producers – 1.0%    
19,300  
AES (The) Corp. (a)
  428,074
33,390  
Clearway Energy, Inc., Class A
  1,030,081
8,000  
EDP Renovaveis S.A. (EUR) (c)
  168,172
        1,626,327
    Multi-Utilities – 10.5%    
60,000  
Atco Ltd., Class I (CAD) (a)
  2,021,162
10,430  
Black Hills Corp.
  706,528
107,670  
CenterPoint Energy, Inc. (a)
  3,053,521
16,450  
CMS Energy Corp. (a)
  1,059,051
12,500  
Dominion Energy, Inc. (a)
  1,008,250
17,380  
DTE Energy Co. (a)
  2,093,074
59,970  
Public Service Enterprise Group, Inc.
  3,989,804
21,850  
Sempra Energy
  3,018,796
3,130  
WEC Energy Group, Inc.
  303,735
        17,253,921
    Oil, Gas & Consumable Fuels – 30.2%    
9,410  
Cheniere Energy, Inc.
  1,052,979
129,440  
DT Midstream, Inc. (a)
  6,692,048
103,085  
Enbridge, Inc. (b)
  4,357,403
113,893  
Equitrans Midstream Corp. (a)
  923,672
130,664  
Keyera Corp. (CAD) (a)
  3,074,508
303,998  
Kinder Morgan, Inc. (b)
  5,277,405
100,006  
ONEOK, Inc. (a) (b)
  6,068,364
First Trust New Opportunities MLP & Energy Fund (FPL)
Portfolio of Investments (Continued)
January 31, 2022 (Unaudited)
Shares   Description   Value
COMMON STOCKS (Continued)
    Oil, Gas & Consumable Fuels (Continued)    
33,000  
Shell PLC, ADR
  $1,696,200
214,109  
TC Energy Corp. (a)
  11,058,730
320,178  
Williams (The) Cos., Inc. (a)
  9,586,129
        49,787,438
    Semiconductors & Semiconductor Equipment – 0.1%    
1,100  
Enphase Energy, Inc. (d)
  154,517
    Water Utilities – 0.3%    
3,200  
American Water Works Co., Inc.
  514,560
   
Total Common Stocks
  107,366,210
    (Cost $98,358,142)    
Units   Description   Value
MASTER LIMITED PARTNERSHIPS – 57.4%
    Chemicals – 3.2%    
197,848  
Westlake Chemical Partners, L.P. (a)
  5,280,563
    Gas Utilities – 0.8%    
88,500  
Suburban Propane Partners, L.P. (a)
  1,312,455
    Independent Power & Renewable Electricity Producers – 2.0%    
43,819  
NextEra Energy Partners, L.P. (a) (e)
  3,296,065
    Oil, Gas & Consumable Fuels – 51.4%    
254,269  
Cheniere Energy Partners, L.P. (a)
  12,520,206
1,230,460  
Energy Transfer, L.P. (a) (b)
  11,775,502
650,564  
Enterprise Products Partners, L.P. (a)
  15,379,333
259,330  
Hess Midstream, L.P., Class A (a) (e)
  7,613,929
171,190  
Holly Energy Partners, L.P. (a)
  3,202,965
326,819  
Magellan Midstream Partners, L.P. (a)
  15,971,644
185,000  
MPLX, L.P.
  6,071,700
764,020  
Plains All American Pipeline, L.P. (a)
  8,228,495
304,480  
Shell Midstream Partners, L.P. (a)
  3,872,986
        84,636,760
   
Total Master Limited Partnerships
  94,525,843
    (Cost $82,908,641)    
   
Total Investments – 122.6%
  201,892,053
    (Cost $181,266,783)    
    
Number of Contracts   Description   Notional Amount   Exercise Price   Expiration Date   Value
CALL OPTIONS WRITTEN – (0.6)%
(247)  
Enbridge, Inc.
  $(1,044,069)   $40.00   02/18/22   (60,515)
(8,904)  
Energy Transfer, L.P.
  (8,521,128)   9.00   02/18/22   (534,240)
(3,039)  
Kinder Morgan, Inc.
  (5,275,704)   17.00   03/18/22   (252,237)
(500)  
ONEOK, Inc.
  (3,034,000)   62.50   03/18/22   (90,000)
(836)  
PPL Corp.
  (2,481,248)   31.00   02/18/22   (4,180)
First Trust New Opportunities MLP & Energy Fund (FPL)
Portfolio of Investments (Continued)
January 31, 2022 (Unaudited)
Number of Contracts   Description   Notional Amount   Exercise Price   Expiration Date   Value
CALL OPTIONS WRITTEN (Continued)
(432)  
UGI Corp.
  $(1,959,120)   $45.00   02/18/22   $(45,360)
   
Total Call Options Written
  (986,532)
    (Premiums received $457,939)                
    
Outstanding Loan – (24.5)%
(40,400,000)
 
Net Other Assets and Liabilities – 2.5%
4,156,135
 
Net Assets – 100.0%
$164,661,656
    
(a) All or a portion of this security serves as collateral on the outstanding loan.
(b) All or a portion of this security’s position represents cover for outstanding options written.
(c) This security is fair valued by the Advisor’s Pricing Committee in accordance with procedures adopted by the Fund’s Board of Trustees and in accordance with provisions of the Investment Company Act of 1940, as amended. At January 31, 2022, the security noted as such is valued at $168,172 or 0.1% of net assets. The security is 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, the security is typically valued at the last sale price on the exchange on which it is principally traded.
(d) Non-income producing security.
(e) This security is taxed as a “C” corporation for federal income tax purposes.
    
ADR American Depositary Receipt
CAD Canadian Dollar
EUR Euro
Valuation Inputs
The Fund is subject to fair value accounting standards that define fair value, establish the framework for measuring fair value and provide a three-level hierarchy for fair valuation based upon the inputs to the valuation as of the measurement date. The three levels of the fair value hierarchy are as follows:
• Level 1 – Level 1 inputs are quoted prices in active markets for identical investments.
• Level 2 – Level 2 inputs are observable inputs, either directly or indirectly. (Quoted prices for similar investments, valuations based on interest rates and yield curves, or valuations derived from observable market data.)
• Level 3 – Level 3 inputs are unobservable inputs that may reflect the reporting entity’s own assumptions about the assumptions that market participants would use in pricing the investment.
The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in those investments.
First Trust New Opportunities MLP & Energy Fund (FPL)
Portfolio of Investments (Continued)
January 31, 2022 (Unaudited)
A summary of the inputs used to value the Fund’s investments as of January 31, 2022 is as follows:
ASSETS TABLE
  Total
Value at
1/31/2022 		Level 1
Quoted
Prices 		Level 2
Significant
Observable
Inputs 		Level 3
Significant
Unobservable
Inputs
Common Stocks:        
Independent Power & Renewable Electricity Producers
$ 1,626,327 $ 1,458,155 $ 168,172 $ —
Other industry categories*
 105,739,883  105,739,883  —  —
Master Limited Partnerships*
 94,525,843  94,525,843  —  —
Total Investments
$ 201,892,053 $ 201,723,881 $ 168,172 $—
 
LIABILITIES TABLE
  Total
Value at
1/31/2022 		Level 1
Quoted
Prices 		Level 2
Significant
Observable
Inputs 		Level 3
Significant
Unobservable
Inputs
Call Options Written
$ (986,532) $ (986,532) $ — $ —
    
* See Portfolio of Investments for industry breakout.