First Trust Enhanced Stocks, Bonds & Gold ETF (ESBG)
Consolidated Portfolio of Investments
December 31, 2025 (Unaudited)
 
Principal
Value
Description
Stated
Coupon
Stated
Maturity
Value
U.S. GOVERNMENT BONDS AND NOTES — 44.2%
$925,000
U.S. Treasury Note
4.00%
05/31/30
$936,924
(Cost $937,441)
 
 
 
Shares
Description
Value
MONEY MARKET FUNDS — 32.3%
685,882
Dreyfus Government Cash Management Fund, Institutional Shares - 3.65% (a)
685,882
(Cost $685,882)
Total Investments — 76.5%
1,622,806
(Cost $1,623,323)
Net Other Assets and Liabilities — 23.5%
497,996
Net Assets — 100.0%
$2,120,802
 
Futures Contracts Long
Number of
Contracts
Expiration
Date
Notional
Value
Unrealized
Appreciation
(Depreciation)/
Value
Micro E-Mini S&P 500 Index Futures
44
Mar-2026
$1,516,350
$(2,166
)
Micro Gold Futures
34
Feb-2026
1,475,974
72,188
U.S. 5-Year Treasury Notes
5
Mar-2026
546,523
(1,758
)
 
Total
$3,538,847
$68,264
 
(a)
Rate shown reflects yield as of December 31, 2025.
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 Enhanced Stocks, Bonds & Gold ETF (ESBG)
Consolidated Portfolio of Investments (Continued)
December 31, 2025 (Unaudited)
A summary of the inputs used to value the Fund’s investments as of December 31, 2025 is as follows:
 
ASSETS TABLE
 
Total
Value at
12/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
U.S. Government Bonds and Notes
$936,924
$—
$936,924
$—
Money Market Funds
685,882
685,882
—
—
Total Investments
1,622,806
685,882
936,924
—
Futures Contracts
72,188
72,188
—
—
Total
$1,694,994
$758,070
$936,924
$—
 
LIABILITIES TABLE
 
Total
Value at
12/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Futures Contracts
$(3,924
)
$(3,924
)
$—
$—