First Trust Consumer Discretionary AlphaDEX® Fund (FXD)
Portfolio of Investments
April 30, 2026 (Unaudited)
Shares
Description
Value
COMMON STOCKS — 99.9%
Automobile Components —
4.1%
28,013
Aptiv PLC (a)
$1,688,063
25,726
BorgWarner, Inc.
1,465,610
166,656
Gentex Corp.
3,851,420
30,075
Lear Corp.
3,823,435
 
10,828,528
Automobiles — 4.1%
37,474
General Motors Co.
2,881,376
180,091
Harley-Davidson, Inc.
4,302,374
45,581
Thor Industries, Inc.
3,602,722
 
10,786,472
Broadline Retail — 4.0%
6,702
Amazon.com, Inc. (a)
1,776,432
4,880
Dillard’s, Inc., Class A
2,777,793
7,668
eBay, Inc.
793,485
201,296
Macy’s, Inc.
3,935,337
15,166
Ollie’s Bargain Outlet Holdings,
Inc. (a)
1,312,011
 
10,595,058
Commercial Services &
Supplies — 0.8%
65,809
Copart, Inc. (a)
2,178,936
Consumer Staples Distribution
& Retail — 5.6%
22,200
BJ’s Wholesale Club Holdings,
Inc. (a)
2,084,358
2,801
Costco Wholesale Corp.
2,841,698
18,402
Dollar General Corp.
2,132,424
19,951
Dollar Tree, Inc. (a)
1,937,442
23,034
Target Corp.
2,988,661
22,463
Walmart, Inc.
2,963,544
 
14,948,127
Distributors — 2.0%
123,985
LKQ Corp.
3,915,446
6,900
Pool Corp.
1,471,908
 
5,387,354
Diversified Consumer Services
— 2.2%
16,997
Bright Horizons Family
Solutions, Inc. (a)
1,378,627
12,850
Grand Canyon Education,
Inc. (a)
2,172,549
68,836
H&R Block, Inc.
2,184,166
 
5,735,342
Entertainment — 2.8%
14,326
Live Nation Entertainment,
Inc. (a)
2,262,648
7,259
Netflix, Inc. (a)
679,515
Shares
Description
Value
 
Entertainment (Continued)
3,461
TKO Group Holdings, Inc.
$644,057
37,782
Walt Disney (The) Co.
3,919,883
 
7,506,103
Ground Transportation —
3.9%
14,980
Avis Budget Group, Inc. (a) (b)
2,706,436
273,793
Lyft, Inc., Class A (a)
3,874,171
9,703
Uber Technologies, Inc. (a)
723,941
62,498
U-Haul Holding Co.
2,980,530
 
10,285,078
Hotels, Restaurants & Leisure
— 18.5%
5,527
Airbnb, Inc., Class A (a)
775,770
17,216
Aramark
786,599
4,146
Booking Holdings, Inc.
698,021
44,310
Boyd Gaming Corp.
3,852,754
82,666
Caesars Entertainment, Inc. (a)
2,298,115
107,874
Carnival Corp.
2,859,740
27,007
Cava Group, Inc. (a)
2,522,724
13,487
Choice Hotels International,
Inc. (b)
1,336,292
15,539
Churchill Downs, Inc.
1,569,284
11,145
Darden Restaurants, Inc.
2,235,241
1,945
Domino’s Pizza, Inc.
660,172
13,777
Dutch Bros, Inc., Class A (a)
792,315
9,463
Expedia Group, Inc.
2,350,325
6,846
Flutter Entertainment PLC (a)
738,889
7,185
Hilton Worldwide Holdings, Inc.
2,328,443
25,908
Las Vegas Sands Corp.
1,414,836
6,680
Marriott International, Inc.,
Class A
2,416,089
2,246
McDonald’s Corp.
659,403
18,858
MGM Resorts International (a)
734,331
74,647
Norwegian Cruise Line Holdings
Ltd. (a)
1,357,082
37,778
Restaurant Brands International,
Inc.
3,047,929
5,073
Royal Caribbean Cruises Ltd.
1,338,054
15,580
Starbucks Corp.
1,641,041
8,453
Texas Roadhouse, Inc.
1,360,848
40,350
Travel + Leisure Co.
2,609,031
5,439
Vail Resorts, Inc. (b)
691,732
37,993
Viking Holdings Ltd. (a)
3,112,007
100,424
Wendy’s (The) Co. (b)
698,951
8,592
Wyndham Hotels & Resorts, Inc.
699,217
8,978
Yum! Brands, Inc.
1,433,338
 
49,018,573
Household Durables — 10.0%
26,538
D.R. Horton, Inc.
4,083,137
6,017
Garmin Ltd.
1,511,109
41,932
Lennar Corp., Class A
3,786,459

First Trust Consumer Discretionary AlphaDEX® Fund (FXD)
Portfolio of Investments (Continued)
April 30, 2026 (Unaudited)
Shares
Description
Value
COMMON STOCKS (Continued)
Household Durables
(Continued)
424
NVR, Inc. (a)
$2,677,929
30,963
PulteGroup, Inc.
3,788,633
20,631
SharkNinja, Inc. (a)
2,383,499
18,884
Somnigroup International, Inc.
1,432,540
26,683
Toll Brothers, Inc.
3,792,722
51,777
Whirlpool Corp. (b)
2,902,619
 
26,358,647
Leisure Products — 2.6%
250,616
Mattel, Inc. (a)
3,779,289
76,299
YETI Holdings, Inc. (a)
3,010,759
 
6,790,048
Media — 5.4%
47,804
Fox Corp., Class A
3,035,076
55,992
News Corp., Class A
1,473,709
7,719
Nexstar Media Group, Inc.
1,606,633
157,775
Sirius XM Holdings, Inc.
4,250,459
98,364
Versant Media Group, Inc.
3,953,249
 
14,319,126
Passenger Airlines — 4.7%
75,905
Alaska Air Group, Inc. (a)
2,968,645
64,985
American Airlines Group,
Inc. (a)
760,974
54,775
Delta Air Lines, Inc.
3,724,152
58,155
Southwest Airlines Co.
2,205,238
30,323
United Airlines Holdings,
Inc. (a)
2,729,070
 
12,388,079
Personal Care Products —
0.3%
11,515
elf Beauty, Inc. (a)
736,615
Specialty Retail — 19.5%
11,189
AutoNation, Inc. (a)
2,376,320
206
AutoZone, Inc. (a)
763,030
117,026
Bath & Body Works, Inc.
2,274,985
43,486
Best Buy Co., Inc.
2,630,468
11,191
Burlington Stores, Inc. (a)
3,581,232
67,142
CarMax, Inc. (a)
2,639,352
4,440
Carvana Co. (a)
1,757,352
11,018
Dick’s Sporting Goods, Inc.
2,500,204
3,054
Five Below, Inc. (a)
719,706
43,009
Floor & Decor Holdings, Inc.,
Class A (a)
2,081,636
60,585
GameStop Corp., Class A (a)
1,511,596
150,474
Gap (The), Inc.
3,700,156
2,122
Home Depot (The), Inc.
697,714
14,582
Lithia Motors, Inc.
4,230,530
2,954
Lowe’s Cos., Inc.
705,386
5,651
Murphy USA, Inc.
3,322,788
Shares
Description
Value
 
Specialty Retail (Continued)
7,561
O’Reilly Automotive, Inc. (a)
$751,563
24,354
Penske Automotive Group, Inc.
4,177,198
12,888
Ross Stores, Inc.
2,935,757
13,682
TJX (The) Cos., Inc.
2,144,653
4,180
Ulta Beauty, Inc. (a)
2,246,666
41,446
Valvoline, Inc. (a)
1,377,251
18,560
Wayfair, Inc., Class A (a)
1,186,541
7,656
Williams-Sonoma, Inc.
1,387,344
 
51,699,428
Textiles, Apparel & Luxury
Goods — 8.6%
21,201
Amer Sports, Inc. (a)
743,519
77,917
Birkenstock Holding PLC (a) (b)
3,018,505
50,935
Columbia Sportswear Co.
3,102,960
13,946
Deckers Outdoor Corp. (a)
1,425,281
23,785
Lululemon Athletica, Inc. (a)
3,275,195
52,199
PVH Corp.
4,773,077
8,116
Ralph Lauren Corp.
2,910,722
19,784
Tapestry, Inc.
2,869,471
41,079
VF Corp.
777,625
 
22,896,355
Trading Companies &
Distributors — 0.8%
16,414
SiteOne Landscape Supply,
Inc. (a)
2,068,985
Total Common Stocks
264,526,854
(Cost $263,370,735)
MONEY MARKET FUNDS — 0.2%
545,870
Morgan Stanley Institutional
Liquidity Funds - Treasury
Portfolio - Institutional Class -
3.52% (c)
545,870
(Cost $545,870)

First Trust Consumer Discretionary AlphaDEX® Fund (FXD)
Portfolio of Investments (Continued)
April 30, 2026 (Unaudited)
Principal
Value
Description
Value
REPURCHASE AGREEMENTS — 3.9%
$10,487,813
Toronto-Dominion Bank (The),
3.64% (c), dated 04/30/26, due
05/01/26, with a maturity
value of $10,488,873.
Collateralized by
U.S. Treasury Securities,
interest rates of 3.50% to
4.88%, due 06/30/28 to
10/31/30. The value of the
collateral including accrued
interest is $10,697,572. (d)
$10,487,813
(Cost $10,487,813)
Total Investments — 104.0%
275,560,537
(Cost $274,404,418)
Net Other Assets and
Liabilities — (4.0)%
(10,662,547
)
Net Assets — 100.0%
$264,897,990
(a)
Non-income producing security.
(b)
All or a portion of this security is on loan for securities
lending. The remaining contractual maturity of all of the
securities lending transactions is overnight and continuous.
The aggregate value of such securities is $10,219,006 and the
total value of the collateral held by the Fund, including for
securities sold and pending settlement, is $10,487,813.
(c)
Rate shown reflects yield as of April 30, 2026.
(d)
This security serves as collateral for securities on loan.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of April 30, 2026 is as follows (see Valuation Inputs in the Additional Information section):
 
Total
Value at
4/30/2026
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks*
$264,526,854
$264,526,854
$
$
Money Market Funds
545,870
545,870
Repurchase
Agreements
10,487,813
10,487,813
Total Investments
$275,560,537
$265,072,724
$10,487,813
$
*
See Portfolio of Investments for industry breakout.

First Trust Consumer Staples AlphaDEX® Fund (FXG)
Portfolio of Investments
April 30, 2026 (Unaudited)
Shares
Description
Value
COMMON STOCKS — 99.8%
Beverages — 19.7%
34,650
Boston Beer (The) Co., Inc.,
Class A (a)
$8,213,436
226,458
Brown-Forman Corp., Class B
5,835,823
26,244
Coca-Cola (The) Co.
2,066,977
52,046
Coca-Cola Consolidated, Inc.
10,673,073
13,306
Constellation Brands, Inc.,
Class A
2,083,454
227,404
Keurig Dr Pepper, Inc.
6,685,678
55,088
Monster Beverage Corp. (a)
4,245,632
25,705
PepsiCo, Inc.
4,073,985
211,987
Primo Brands Corp.
4,320,295
 
48,198,353
Consumer Staples Distribution
& Retail — 10.5%
351,382
Albertsons Cos., Inc., Class A
5,920,787
13,710
Casey’s General Stores, Inc.
11,271,676
69,899
Performance Food Group Co. (a)
6,330,053
27,981
Sysco Corp.
2,090,461
 
25,612,977
Food Products — 50.5%
54,914
Archer-Daniels-Midland Co.
4,093,290
31,382
Bunge Global S.A.
3,987,711
358,482
Campbell’s (The) Co. (b)
7,452,841
161,346
Darling Ingredients, Inc. (a)
10,363,254
979,558
Flowers Foods, Inc.
8,874,795
135,404
Freshpet, Inc. (a)
9,123,522
214,492
General Mills, Inc.
7,573,713
28,802
Hershey (The) Co.
5,349,683
176,234
Hormel Foods Corp.
3,783,744
88,578
Ingredion, Inc.
9,897,706
188,911
Lamb Weston Holdings, Inc.
8,227,074
118,706
McCormick & Co., Inc.
6,035,013
264,281
Pilgrim’s Pride Corp.
8,747,701
80,754
Post Holdings, Inc. (a)
8,458,981
1,764
Seaboard Corp.
10,029,980
356,784
Smithfield Foods, Inc.
9,376,283
31,151
Tyson Foods, Inc., Class A
1,995,845
 
123,371,136
Health Care Providers &
Services — 8.2%
19,060
Cencora, Inc.
5,870,671
55,579
CVS Health Corp.
4,629,175
11,532
McKesson Corp.
9,400,886
 
19,900,732
Household Products — 6.5%
19,259
Clorox (The) Co.
1,857,338
20,689
Kimberly-Clark Corp.
2,036,419
Shares
Description
Value
 
Household Products
(Continued)
27,636
Procter & Gamble (The) Co.
$4,064,979
376,931
Reynolds Consumer Products,
Inc.
7,904,243
 
15,862,979
Personal Care Products —
3.5%
372,128
BellRing Brands, Inc. (a)
6,623,878
115,768
Kenvue, Inc.
2,029,413
 
8,653,291
Tobacco — 0.9%
30,245
Altria Group, Inc.
2,197,299
Total Common Stocks
243,796,767
(Cost $239,524,647)
MONEY MARKET FUNDS — 0.1%
349,325
Morgan Stanley Institutional
Liquidity Funds - Treasury
Portfolio - Institutional Class -
3.52% (c)
349,325
(Cost $349,325)
Principal
Value
Description
Value
REPURCHASE AGREEMENTS — 0.1%
$170,913
Daiwa Capital Markets America,
Inc., 3.64% (c), dated
04/30/26, due 05/01/26, with a
maturity value of $170,930.
Collateralized by
U.S. Treasury Securities,
interest rates of 1.63% to
4.75%, due 10/31/26 to
02/15/56. The value of the
collateral including accrued
interest is $174,331. (d)
170,913
(Cost $170,913)
Total Investments — 100.0%
244,317,005
(Cost $240,044,885)
Net Other Assets and
Liabilities — 0.0%
98,791
Net Assets — 100.0%
$244,415,796
(a)
Non-income producing security.
(b)
All or a portion of this security is on loan for securities
lending. The remaining contractual maturity of all of the
securities lending transactions is overnight and continuous.
The aggregate value of such securities is $158,690 and the
total value of the collateral held by the Fund, including for
securities sold and pending settlement, is $170,913.
(c)
Rate shown reflects yield as of April 30, 2026.
(d)
This security serves as collateral for securities on loan.

First Trust Consumer Staples AlphaDEX® Fund (FXG)
Portfolio of Investments (Continued)
April 30, 2026 (Unaudited)

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of April 30, 2026 is as follows (see Valuation Inputs in the Additional Information section):
 
Total
Value at
4/30/2026
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks*
$243,796,767
$243,796,767
$
$
Money Market Funds
349,325
349,325
Repurchase Agreements
170,913
170,913
Total Investments
$244,317,005
$244,146,092
$170,913
$
*
See Portfolio of Investments for industry breakout.

First Trust Energy AlphaDEX® Fund (FXN)
Portfolio of Investments
April 30, 2026 (Unaudited)
Shares
Description
Value
COMMON STOCKS — 99.9%
Energy Equipment & Services
— 10.5%
165,080
Baker Hughes Co.
$11,501,124
258,471
Halliburton Co.
10,933,323
1,224,619
NOV, Inc.
25,055,705
588,315
SLB Ltd.
33,463,357
145,783
TechnipFMC PLC
11,016,821
319,659
Weatherford International PLC
35,274,371
 
127,244,701
Oil, Gas & Consumable Fuels
— 84.8%
442,010
Antero Midstream Corp.
9,662,339
1,085,540
Antero Resources Corp. (a)
42,618,300
1,356,921
APA Corp.
55,267,392
202,947
Cheniere Energy, Inc.
55,800,278
111,336
Chevron Corp.
21,522,362
212,644
Chord Energy Corp.
30,960,966
229,041
ConocoPhillips
28,808,777
1,144,434
Devon Energy Corp.
58,789,575
152,856
Diamondback Energy, Inc.
31,431,779
74,835
DT Midstream, Inc.
11,074,832
318,667
EOG Resources, Inc.
44,795,020
723,916
EQT Corp.
43,492,873
524,574
Expand Energy Corp.
53,585,234
135,770
Exxon Mobil Corp.
20,953,384
738,425
HF Sinclair Corp.
49,629,544
686,998
Kinder Morgan, Inc.
22,581,624
94,337
Marathon Petroleum Corp.
23,422,934
911,489
Matador Resources Co.
57,824,862
354,390
Occidental Petroleum Corp.
21,468,946
254,841
ONEOK, Inc.
23,562,599
970,140
Ovintiv, Inc.
59,712,117
2,701,117
Permian Resources Corp.,
Class A
58,398,150
252,882
Phillips 66
45,303,810
1,019,707
Range Resources Corp.
44,357,255
120,582
Targa Resources Corp.
31,360,967
63,707
Texas Pacific Land Corp.
28,264,885
40,788
Valero Energy Corp.
10,302,233
214,474
Viper Energy, Inc., Class A
10,590,726
415,407
Williams (The) Cos., Inc.
31,699,708
 
1,027,243,471
Semiconductors &
Semiconductor Equipment
— 4.6%
266,539
Enphase Energy, Inc. (a)
8,785,125
233,549
First Solar, Inc. (a)
47,151,208
 
55,936,333
Total Common Stocks
1,210,424,505
(Cost $1,161,199,433)
Shares
Description
Value
MONEY MARKET FUNDS — 0.1%
1,019,449
Morgan Stanley Institutional
Liquidity Funds - Treasury
Portfolio - Institutional Class -
3.52% (b)
$1,019,449
(Cost $1,019,449)
Total Investments — 100.0%
1,211,443,954
(Cost $1,162,218,882)
Net Other Assets and
Liabilities — (0.0)%
(73,453
)
Net Assets — 100.0%
$1,211,370,501
(a)
Non-income producing security.
(b)
Rate shown reflects yield as of April 30, 2026.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of April 30, 2026 is as follows (see Valuation Inputs in the Additional Information section):
 
Total
Value at
4/30/2026
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks*
$1,210,424,505
$1,210,424,505
$
$
Money Market
Funds
1,019,449
1,019,449
Total Investments
$1,211,443,954
$1,211,443,954
$
$
*
See Portfolio of Investments for industry breakout.

First Trust Financials AlphaDEX® Fund (FXO)
Portfolio of Investments
April 30, 2026 (Unaudited)
Shares
Description
Value
COMMON STOCKS — 99.9%
Banks — 28.3%
130,766
Bank of America Corp.
$6,990,750
347,284
Bank OZK
16,725,197
49,779
BOK Financial Corp.
6,659,932
84,312
Citigroup, Inc.
10,790,250
106,297
Citizens Financial Group, Inc.
6,914,620
232,402
Columbia Banking System, Inc.
6,879,099
129,568
Commerce Bancshares, Inc.
6,741,423
23,251
Cullen/Frost Bankers, Inc.
3,369,767
59,709
East West Bancorp, Inc.
7,551,397
137,211
Fifth Third Bancorp
6,964,830
5,075
First Citizens BancShares, Inc.,
Class A
10,067,887
388,072
First Hawaiian, Inc.
10,586,604
420,125
First Horizon Corp.
10,486,320
762,530
FNB Corp.
13,611,161
407,331
Huntington Bancshares, Inc.
6,826,868
10,838
JPMorgan Chase & Co.
3,394,787
317,943
KeyCorp
7,029,720
61,677
M&T Bank Corp.
13,484,443
221,804
NU Holdings Ltd., Class A (a)
3,211,722
111,007
Pinnacle Financial Partners, Inc.
10,983,033
45,955
PNC Financial Services Group
(The), Inc.
10,247,965
71,269
Popular, Inc.
10,713,869
189,783
Prosperity Bancshares, Inc.
13,218,386
366,082
Regions Financial Corp.
10,451,641
137,803
SouthState Bank Corp.
13,459,219
277,341
Truist Financial Corp.
14,283,061
183,848
U.S. Bancorp
10,416,828
137,742
Webster Financial Corp.
9,967,011
80,073
Wells Fargo & Co.
6,584,403
179,948
Western Alliance Bancorp
14,672,960
45,883
Wintrust Financial Corp.
6,908,603
221,270
Zions Bancorp N.A.
14,032,943
 
304,226,699
Capital Markets — 18.5%
57,595
Affiliated Managers Group, Inc.
16,971,519
80,605
Bank of New York Mellon (The)
Corp.
10,830,894
10,676
Evercore, Inc., Class A
3,430,092
73,446
FactSet Research Systems, Inc.
16,714,841
404,831
Franklin Resources, Inc.
12,132,785
3,763
Goldman Sachs Group (The),
Inc.
3,476,146
64,133
Hamilton Lane, Inc., Class A
5,899,595
22,193
Houlihan Lokey, Inc.
3,434,367
142,570
Interactive Brokers Group, Inc.,
Class A
11,334,315
308,928
Jefferies Financial Group, Inc.
14,896,508
75,030
Lazard, Inc.
3,638,955
Shares
Description
Value
 
Capital Markets (Continued)
10,592
LPL Financial Holdings, Inc.
$3,539,105
38,639
MarketAxess Holdings, Inc.
6,073,664
19,369
Morgan Stanley
3,691,538
37,712
Morningstar, Inc.
6,362,391
22,835
Northern Trust Corp.
3,798,374
22,018
Raymond James Financial, Inc.
3,485,890
203,096
SEI Investments Co.
18,416,745
75,554
State Street Corp.
11,547,673
43,123
Stifel Financial Corp.
3,398,524
176,801
T. Rowe Price Group, Inc.
18,189,287
27,087
Tradeweb Markets, Inc., Class A
3,067,603
217,423
Virtu Financial, Inc., Class A
10,797,226
167,401
XP, Inc., Class A
3,207,403
 
198,335,440
Consumer Finance — 4.6%
324,991
Ally Financial, Inc.
14,426,351
15,054
Credit Acceptance Corp. (a) (b)
7,600,915
238,351
OneMain Holdings, Inc.
14,007,888
595,495
SLM Corp.
13,744,025
 
49,779,179
Financial Services — 4.0%
33,256
Berkshire Hathaway, Inc.,
Class B (a)
15,750,042
607,117
MGIC Investment Corp.
16,076,458
139,961
Voya Financial, Inc.
11,471,203
 
43,297,703
Insurance — 38.8%
29,054
Aflac, Inc.
3,302,568
76,862
Allstate (The) Corp.
16,699,038
49,919
American Financial Group, Inc.
6,652,705
211,782
American International Group,
Inc.
15,841,294
166,025
Arch Capital Group Ltd. (a)
15,682,721
43,899
Assurant, Inc.
10,372,017
195,594
Assured Guaranty Ltd.
16,019,149
157,153
Axis Capital Holdings Ltd.
15,779,733
212,916
Brighthouse Financial, Inc. (a)
13,256,150
48,876
Brown & Brown, Inc.
2,939,891
29,337
Chubb Ltd.
9,593,199
101,281
Cincinnati Financial Corp.
16,569,572
277,644
CNA Financial Corp.
13,390,770
48,760
Everest Group Ltd.
17,395,618
68,722
Fidelity National Financial, Inc.
3,594,161
264,340
First American Financial Corp.
18,538,164
91,609
Globe Life, Inc.
14,135,269
91,934
Hanover Insurance Group (The),
Inc.
17,255,092
94,283
Hartford Insurance Group (The),
Inc.
12,898,857
417,198
Kemper Corp.
14,055,401
359,142
Lincoln National Corp.
13,579,159

First Trust Financials AlphaDEX® Fund (FXO)
Portfolio of Investments (Continued)
April 30, 2026 (Unaudited)
Shares
Description
Value
COMMON STOCKS (Continued)
Insurance (Continued)
119,442
Loews Corp.
$13,450,364
6,657
Markel Group, Inc. (a)
11,799,333
45,069
MetLife, Inc.
3,610,027
239,656
Old Republic International Corp.
9,574,257
25,451
Primerica, Inc.
7,158,603
35,370
Principal Financial Group, Inc.
3,569,187
64,312
Progressive (The) Corp.
12,944,719
97,885
Prudential Financial, Inc.
9,603,497
46,834
Reinsurance Group of America,
Inc.
9,903,518
53,615
RenaissanceRe Holdings Ltd.
16,458,197
111,760
RLI Corp.
5,785,815
43,711
Travelers (The) Cos., Inc.
13,337,974
87,289
Unum Group
7,016,290
48,092
W.R. Berkley Corp.
3,213,988
7,256
White Mountains Insurance
Group Ltd.
16,195,319
21,931
Willis Towers Watson PLC
5,618,722
 
416,790,338
Mortgage REITs — 5.1%
1,588,923
AGNC Investment Corp.
17,509,931
753,515
Annaly Capital Management,
Inc.
17,255,494
1,681,104
Rithm Capital Corp.
16,441,197
185,098
Starwood Property Trust, Inc.
3,398,399
 
54,605,021
Professional Services — 0.6%
39,232
Broadridge Financial Solutions,
Inc.
6,040,943
Total Common Stocks
1,073,075,323
(Cost $1,026,855,723)
MONEY MARKET FUNDS — 0.2%
1,499,914
Morgan Stanley Institutional
Liquidity Funds - Treasury
Portfolio - Institutional Class -
3.52% (c)
1,499,914
(Cost $1,499,914)
Principal
Value
Description
Value
REPURCHASE AGREEMENTS — 0.0%
$416,249
Daiwa Capital Markets America,
Inc., 3.64% (c), dated
04/30/26, due 05/01/26, with a
maturity value of $416,291.
Collateralized by
U.S. Treasury Securities,
interest rates of 1.63% to
4.75%, due 10/31/26 to
02/15/56. The value of the
collateral including accrued
interest is $424,574. (d)
$416,249
(Cost $416,249)
Total Investments — 100.1%
1,074,991,486
(Cost $1,028,771,886)
Net Other Assets and
Liabilities — (0.1)%
(665,309
)
Net Assets — 100.0%
$1,074,326,177
(a)
Non-income producing security.
(b)
All or a portion of this security is on loan for securities
lending. The remaining contractual maturity of all of the
securities lending transactions is overnight and continuous.
The aggregate value of such securities is $408,977 and the
total value of the collateral held by the Fund, including for
securities sold and pending settlement, is $416,249.
(c)
Rate shown reflects yield as of April 30, 2026.
(d)
This security serves as collateral for securities on loan.
Abbreviations throughout the Portfolio of Investments:
REITs
Real Estate Investment Trusts

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of April 30, 2026 is as follows (see Valuation Inputs in the Additional Information section):
 
Total
Value at
4/30/2026
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks*
$1,073,075,323
$1,073,075,323
$
$
Money Market
Funds
1,499,914
1,499,914
Repurchase
Agreements
416,249
416,249
Total Investments
$1,074,991,486
$1,074,575,237
$416,249
$
*
See Portfolio of Investments for industry breakout.

First Trust Health Care AlphaDEX® Fund (FXH)
Portfolio of Investments
April 30, 2026 (Unaudited)
Shares
Description
Value
COMMON STOCKS — 100.0%
Biotechnology — 23.1%
16,313
AbbVie, Inc.
$3,447,263
10,723
Alnylam Pharmaceuticals,
Inc. (a)
3,318,661
43,025
Amgen, Inc.
14,897,406
103,216
Biogen, Inc. (a)
19,536,725
133,988
BioMarin Pharmaceutical,
Inc. (a)
7,223,293
441,186
Exelixis, Inc. (a)
19,615,130
81,464
Gilead Sciences, Inc.
10,658,750
117,113
Halozyme Therapeutics, Inc. (a)
7,455,414
201,047
Incyte Corp. (a)
19,153,748
92,576
Insmed, Inc. (a)
12,620,886
201,598
Ionis Pharmaceuticals, Inc. (a)
15,071,466
56,770
Natera, Inc. (a)
11,703,703
57,454
Neurocrine Biosciences, Inc. (a)
7,564,968
24,491
Regeneron Pharmaceuticals, Inc.
17,316,606
521,760
Sarepta Therapeutics, Inc. (a)
10,894,349
25,529
United Therapeutics Corp. (a)
14,585,994
7,945
Vertex Pharmaceuticals, Inc. (a)
3,395,534
109,034
Viking Therapeutics, Inc. (a)
3,399,680
 
201,859,576
Health Care Equipment &
Supplies — 22.9%
73,722
Abbott Laboratories
6,693,220
44,152
Align Technology, Inc. (a)
7,771,194
96,279
Becton Dickinson & Co.
14,349,422
56,542
Boston Scientific Corp. (a)
3,257,385
158,790
Cooper (The) Cos., Inc. (a)
9,987,891
56,496
Dexcom, Inc. (a)
3,364,337
44,305
Edwards Lifesciences Corp. (a)
3,699,468
139,849
Envista Holdings Corp. (a)
3,627,683
159,504
GE HealthCare Technologies,
Inc.
9,704,223
219,621
Globus Medical, Inc.,
Class A (a)
19,805,422
6,315
IDEXX Laboratories, Inc. (a)
3,541,452
7,697
Intuitive Surgical, Inc. (a)
3,522,224
85,107
Masimo Corp. (a)
15,185,642
170,089
Medline, Inc., Class A (a)
7,563,858
131,027
Medtronic PLC
10,609,256
46,100
Penumbra, Inc. (a)
15,050,728
50,577
ResMed, Inc.
10,813,868
289,778
Solventum Corp. (a)
19,519,446
51,343
STERIS PLC
11,135,270
10,798
Stryker Corp.
3,402,774
209,273
Zimmer Biomet Holdings, Inc.
17,250,373
 
199,855,136
Health Care Providers &
Services — 29.2%
89,549
Cardinal Health, Inc.
17,272,211
Shares
Description
Value
 
Health Care Providers &
Services (Continued)
40,076
Chemed Corp.
$17,031,498
70,938
Cigna Group (The)
20,613,164
123,121
DaVita, Inc. (a)
19,100,992
64,637
Elevance Health, Inc.
24,330,660
156,498
Encompass Health Corp.
15,649,800
39,985
HCA Healthcare, Inc.
17,371,483
154,050
Henry Schein, Inc. (a)
11,490,590
109,132
Humana, Inc.
25,803,170
42,553
Labcorp Holdings, Inc.
10,927,610
113,564
Molina Healthcare, Inc. (a)
22,101,826
57,932
Quest Diagnostics, Inc.
11,250,394
80,219
Tenet Healthcare Corp. (a)
14,208,389
27,972
UnitedHealth Group, Inc.
10,363,067
105,730
Universal Health Services, Inc.,
Class B
17,791,187
 
255,306,041
Health Care Technology —
1.7%
1,991,842
Certara, Inc. (a)
12,209,992
20,198
Veeva Systems, Inc., Class A (a)
3,150,282
 
15,360,274
Life Sciences Tools & Services
— 11.8%
66,406
Agilent Technologies, Inc.
7,673,213
67,883
Bio-Rad Laboratories, Inc.,
Class A (a)
19,015,386
18,713
Danaher Corp.
3,348,691
92,110
Illumina, Inc. (a)
11,674,021
44,382
IQVIA Holdings, Inc. (a)
7,028,777
15,763
Medpace Holdings, Inc. (a)
6,599,338
378,072
QIAGEN N.V.
13,073,730
129,591
Revvity, Inc.
11,225,172
247,418
Sotera Health Co. (a)
3,849,824
15,398
Thermo Fisher Scientific, Inc.
7,375,026
25,416
Waters Corp. (a)
7,859,390
14,155
West Pharmaceutical Services,
Inc.
4,212,387
 
102,934,955
Pharmaceuticals — 11.3%
187,197
Bristol-Myers Squibb Co.
11,342,266
8,229
Eli Lilly & Co.
7,690,824
30,965
Johnson & Johnson
7,117,305
125,846
Merck & Co., Inc.
13,739,866
2,527,212
Organon & Co.
33,485,559
539,103
Pfizer, Inc.
14,394,050
73,962
Royalty Pharma PLC, Class A
3,704,757
64,030
Zoetis, Inc.
7,361,529
 
98,836,156
Total Common Stocks
874,152,138
(Cost $821,465,685)

First Trust Health Care AlphaDEX® Fund (FXH)
Portfolio of Investments (Continued)
April 30, 2026 (Unaudited)
Shares
Description
Value
MONEY MARKET FUNDS — 0.0%
401,018
Morgan Stanley Institutional
Liquidity Funds - Treasury
Portfolio - Institutional Class -
3.52% (b)
$401,018
(Cost $401,018)
Principal
Value
Description
Value
REPURCHASE AGREEMENTS — 0.0%
$13
Daiwa Capital Markets America,
Inc., 3.64% (b), dated
04/30/26, due 05/01/26, with a
maturity value of $13.
Collateralized by
U.S. Treasury Securities,
interest rates of 1.63% to
4.75%, due 10/31/26 to
02/15/56. The value of the
collateral including accrued
interest is $13. (c)
13
(Cost $13)
Total Investments — 100.0%
874,553,169
(Cost $821,866,716)
Net Other Assets and
Liabilities — (0.0)%
(366,353
)
Net Assets — 100.0%
$874,186,816
(a)
Non-income producing security.
(b)
Rate shown reflects yield as of April 30, 2026.
(c)
This security serves as collateral for securities on loan.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of April 30, 2026 is as follows (see Valuation Inputs in the Additional Information section):
 
Total
Value at
4/30/2026
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks*
$874,152,138
$874,152,138
$
$
Money Market Funds
401,018
401,018
Repurchase Agreements
13
13
Total Investments
$874,553,169
$874,553,156
$13
$
*
See Portfolio of Investments for industry breakout.

First Trust Industrials/Producer Durables AlphaDEX® Fund (FXR)
Portfolio of Investments
April 30, 2026 (Unaudited)
Shares
Description
Value
COMMON STOCKS — 100.0%
Aerospace & Defense — 10.9%
30,032
Boeing (The) Co. (a)
$6,878,229
36,537
BWX Technologies, Inc.
7,906,241
30,496
FTAI Aviation Ltd.
7,613,936
8,681
General Dynamics Corp.
2,988,868
15,798
General Electric Co.
4,580,314
25,936
Howmet Aerospace, Inc.
6,303,485
7,845
Huntington Ingalls Industries,
Inc.
2,857,855
37,225
Karman Holdings, Inc. (a)
2,530,556
167,824
Leonardo DRS, Inc.
6,818,689
12,362
Lockheed Martin Corp.
6,403,145
4,369
Northrop Grumman Corp.
2,531,748
93,074
Rocket Lab Corp. (a)
7,679,536
173,046
StandardAero, Inc. (a)
4,301,924
68,264
Textron, Inc.
6,550,614
 
75,945,140
Air Freight & Logistics —
2.8%
20,804
Expeditors International of
Washington, Inc.
3,076,704
16,781
FedEx Corp.
6,767,945
57,471
GXO Logistics, Inc. (a)
3,283,318
60,756
United Parcel Service, Inc.,
Class B
6,610,253
 
19,738,220
Building Products — 10.5%
90,646
A.O. Smith Corp.
5,605,549
54,174
AAON, Inc.
5,054,976
32,690
Advanced Drainage Systems,
Inc.
4,878,983
30,765
Allegion PLC
4,229,572
27,121
Armstrong World Industries, Inc.
4,621,147
72,600
Builders FirstSource, Inc. (a)
5,741,934
13,399
Carlisle Cos., Inc.
4,760,129
26,460
Carrier Global Corp.
1,777,318
191,724
Fortune Brands Innovations, Inc.
7,772,491
446,725
Hayward Holdings, Inc. (a)
6,705,342
49,360
Masco Corp.
3,545,035
34,828
Simpson Manufacturing Co., Inc.
6,642,744
10,757
Trane Technologies PLC
5,298,253
164,119
Trex Co., Inc. (a)
6,433,465
 
73,066,938
Chemicals — 2.4%
215,783
Axalta Coating Systems Ltd. (a)
6,136,869
55,924
PPG Industries, Inc.
6,067,754
45,099
RPM International, Inc.
4,595,137
 
16,799,760
Shares
Description
Value
 
Commercial Services &
Supplies — 1.3%
27,263
MSA Safety, Inc.
$4,536,291
98,932
Tetra Tech, Inc.
3,197,482
16,850
Veralto Corp.
1,486,170
 
9,219,943
Construction & Engineering
— 6.2%
17,566
AECOM
1,477,301
5,412
Comfort Systems USA, Inc.
9,959,433
10,119
EMCOR Group, Inc.
9,022,809
12,621
Everus Construction Group,
Inc. (a)
1,860,714
23,195
MasTec, Inc. (a)
9,139,990
13,608
Quanta Services, Inc.
9,903,494
85,824
WillScot Holdings Corp.
1,943,055
 
43,306,796
Construction Materials —
2.9%
56,860
CRH PLC
6,733,361
39,392
Eagle Materials, Inc.
8,276,653
78,665
James Hardie Industries PLC (a)
1,651,179
2,531
Martin Marietta Materials, Inc.
1,566,866
5,473
Vulcan Materials Co.
1,651,423
 
19,879,482
Consumer Finance — 1.4%
4,926
American Express Co.
1,591,344
109,716
Synchrony Financial
8,360,359
 
9,951,703
Containers & Packaging —
8.2%
150,369
Amcor PLC
5,720,037
47,431
AptarGroup, Inc.
5,866,266
101,120
Ball Corp.
6,176,410
59,623
Crown Holdings, Inc.
5,861,537
751,659
Graphic Packaging Holding Co.
7,163,310
21,062
Packaging Corp. of America
4,495,684
192,564
Silgan Holdings, Inc.
7,808,470
187,490
Smurfit Westrock PLC
7,197,741
138,130
Sonoco Products Co.
6,900,975
 
57,190,430
Diversified Consumer Services
— 1.2%
1,137,213
ADT, Inc.
8,563,214
Electrical Equipment — 4.1%
21,330
Acuity, Inc.
6,180,794
6,950
AMETEK, Inc.
1,636,725
11,370
Emerson Electric Co.
1,596,803
8,549
GE Vernova, Inc.
9,262,499
3,036
Hubbell, Inc.
1,542,804
15,913
Regal Rexnord Corp.
3,421,772

First Trust Industrials/Producer Durables AlphaDEX® Fund (FXR)
Portfolio of Investments (Continued)
April 30, 2026 (Unaudited)
Shares
Description
Value
COMMON STOCKS (Continued)
Electrical Equipment
(Continued)
8,304
Rockwell Automation, Inc.
$3,395,589
42,304
Sensata Technologies
Holding PLC
1,761,539
 
28,798,525
Electronic Equipment,
Instruments & Components
— 3.2%
184,072
Crane NXT Co.
8,224,337
4,925
Teledyne Technologies, Inc. (a)
3,180,811
210,642
Vontier Corp.
7,557,835
14,251
Zebra Technologies Corp.,
Class A (a)
3,224,431
 
22,187,414
Financial Services — 8.2%
49,516
Block, Inc. (a)
3,491,373
10,242
Corpay, Inc. (a)
3,138,866
112,444
Euronet Worldwide, Inc. (a)
8,138,697
95,284
Fidelity National Information
Services, Inc.
4,433,564
133,744
Fiserv, Inc. (a)
8,379,062
88,814
Global Payments, Inc.
6,391,055
28,282
Jack Henry & Associates, Inc.
4,348,357
164,998
PayPal Holdings, Inc.
8,273,000
855,840
Western Union (The) Co. (b)
7,779,586
19,471
WEX, Inc. (a)
2,927,075
 
57,300,635
Ground Transportation —
6.9%
36,296
CSX Corp.
1,648,927
14,063
J.B. Hunt Transport Services,
Inc.
3,537,266
77,855
Knight-Swift Transportation
Holdings, Inc.
5,052,790
10,384
Norfolk Southern Corp.
3,279,579
22,875
Old Dominion Freight Line, Inc.
4,859,336
29,198
Ryder System, Inc.
7,409,576
8,484
Saia, Inc. (a)
3,807,789
226,752
Schneider National, Inc., Class B
7,049,720
12,283
Union Pacific Corp.
3,310,023
38,360
XPO, Inc. (a)
8,444,187
 
48,399,193
Household Durables — 2.0%
75,884
Mohawk Industries, Inc. (a)
8,010,315
12,724
TopBuild Corp. (a)
5,632,915
 
13,643,230
Industrial Conglomerates —
0.2%
10,258
3M Co.
1,503,002
Shares
Description
Value
 
IT Services — 0.8%
30,143
Accenture PLC, Class A
$5,386,856
Machinery — 15.1%
64,481
AGCO Corp.
7,803,491
38,184
Allison Transmission Holdings,
Inc.
5,130,020
10,534
Caterpillar, Inc.
9,376,419
406,341
CNH Industrial N.V.
4,351,912
8,712
Crane Co.
1,548,384
2,771
Cummins, Inc.
1,859,369
35,110
Donaldson Co., Inc.
3,095,649
14,295
Dover Corp.
3,236,531
46,242
Esab Corp.
4,544,201
20,269
Flowserve Corp.
1,492,609
26,951
Fortive Corp.
1,611,400
264,360
Gates Industrial Corp. PLC (a)
6,770,260
52,803
Graco, Inc.
4,238,497
15,720
IDEX Corp.
3,424,602
5,724
Illinois Tool Works, Inc.
1,476,849
7,821
ITT, Inc.
1,676,353
5,981
Lincoln Electric Holdings, Inc.
1,584,965
33,812
Middleby (The) Corp. (a)
4,745,852
5,601
Nordson Corp.
1,615,608
50,754
Oshkosh Corp.
7,932,850
25,800
PACCAR, Inc.
3,065,040
1,666
Parker-Hannifin Corp.
1,515,094
51,311
Pentair PLC
4,141,311
16,457
Snap-on, Inc.
6,309,614
84,115
Stanley Black & Decker, Inc.
6,574,428
15,946
Toro (The) Co.
1,517,581
37,405
Xylem, Inc.
4,419,775
 
105,058,664
Marine Transportation —
1.0%
44,982
Kirby Corp. (a)
6,771,590
Paper & Forest Products —
0.4%
40,959
Louisiana-Pacific Corp.
2,956,830
Professional Services — 4.9%
171,386
Amentum Holdings, Inc. (a)
4,495,455
8,274
Equifax, Inc.
1,439,179
25,286
FTI Consulting, Inc. (a)
4,533,780
200,577
Genpact Ltd.
6,970,051
101,148
ManpowerGroup, Inc.
3,061,750
32,348
Paychex, Inc.
2,996,395
175,974
Robert Half, Inc.
4,682,668
64,601
TransUnion
4,586,671
7,853
Verisk Analytics, Inc.
1,448,800
 
34,214,749
Software — 0.2%
22,840
Trimble, Inc. (a)
1,537,589

First Trust Industrials/Producer Durables AlphaDEX® Fund (FXR)
Portfolio of Investments (Continued)
April 30, 2026 (Unaudited)
Shares
Description
Value
COMMON STOCKS (Continued)
Trading Companies &
Distributors — 5.2%
11,230
Applied Industrial Technologies,
Inc.
$3,433,572
60,321
Core & Main, Inc., Class A (a)
3,038,369
25,625
Ferguson Enterprises, Inc.
6,860,069
48,441
MSC Industrial Direct Co., Inc.,
Class A
4,954,061
8,194
United Rentals, Inc.
7,864,929
4,110
W.W. Grainger, Inc.
4,773,148
4,095
Watsco, Inc.
1,792,955
10,891
WESCO International, Inc.
3,802,266
 
36,519,369
Total Common Stocks
697,939,272
(Cost $649,826,931)
MONEY MARKET FUNDS — 0.1%
409,865
Morgan Stanley Institutional
Liquidity Funds - Treasury
Portfolio - Institutional Class -
3.52% (c)
409,865
(Cost $409,865)
Principal
Value
Description
Value
REPURCHASE AGREEMENTS — 0.5%
$3,735,627
Daiwa Capital Markets America,
Inc., 3.64% (c), dated
04/30/26, due 05/01/26, with a
maturity value of $3,736,005.
Collateralized by
U.S. Treasury Securities,
interest rates of 1.63% to
4.75%, due 10/31/26 to
02/15/56. The value of the
collateral including accrued
interest is $3,810,341. (d)
3,735,627
(Cost $3,735,627)
Total Investments — 100.6%
702,084,764
(Cost $653,972,423)
Net Other Assets and
Liabilities — (0.6)%
(4,121,474
)
Net Assets — 100.0%
$697,963,290
(a)
Non-income producing security.
(b)
All or a portion of this security is on loan for securities
lending. The remaining contractual maturity of all of the
securities lending transactions is overnight and continuous.
The aggregate value of such securities is $3,678,387 and the
total value of the collateral held by the Fund, including for
securities sold and pending settlement, is $3,735,627.
(c)
Rate shown reflects yield as of April 30, 2026.
(d)
This security serves as collateral for securities on loan.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of April 30, 2026 is as follows (see Valuation Inputs in the Additional Information section):
 
Total
Value at
4/30/2026
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks*
$697,939,272
$697,939,272
$
$
Money Market Funds
409,865
409,865
Repurchase
Agreements
3,735,627
3,735,627
Total Investments
$702,084,764
$698,349,137
$3,735,627
$
*
See Portfolio of Investments for industry breakout.

First Trust Materials AlphaDEX® Fund (FXZ)
Portfolio of Investments
April 30, 2026 (Unaudited)
Shares
Description
Value
COMMON STOCKS — 100.0%
Aerospace & Defense — 5.3%
30,926
Carpenter Technology Corp.
$13,242,513
75,307
Hexcel Corp.
7,069,068
 
20,311,581
Chemicals — 41.4%
10,489
Air Products and Chemicals, Inc.
3,147,224
16,975
Albemarle Corp.
3,338,983
54,799
Ashland, Inc.
2,918,595
46,335
Celanese Corp.
3,139,660
134,116
CF Industries Holdings, Inc.
16,657,207
228,166
Eastman Chemical Co.
16,676,653
39,276
Ecolab, Inc.
10,235,326
178,524
Element Solutions, Inc.
7,603,337
176,966
FMC Corp.
2,721,737
457,909
Huntsman Corp.
6,580,152
84,008
International Flavors &
Fragrances, Inc.
5,897,362
21,077
Linde PLC
10,562,528
37,827
LyondellBasell Industries N.V.,
Class A
2,821,894
682,886
Mosaic (The) Co.
15,890,757
27,168
NewMarket Corp.
18,355,244
410,009
Olin Corp.
11,677,056
100,226
Scotts Miracle-Gro (The) Co.
6,284,170
137,188
Solstice Advanced Materials,
Inc.
11,242,557
26,087
Westlake Corp.
3,007,309
 
158,757,751
Containers & Packaging —
4.0%
60,505
Avery Dennison Corp.
9,918,585
170,720
International Paper Co.
5,193,302
 
15,111,887
Machinery — 12.4%
110,014
Mueller Industries, Inc.
14,899,196
32,062
RBC Bearings, Inc. (a)
19,208,024
121,206
Timken (The) Co.
13,440,533
 
47,547,753
Metals & Mining — 34.3%
183,770
Alcoa Corp.
11,722,688
178,858
Anglogold Ashanti PLC
16,764,360
721,274
Cleveland-Cliffs, Inc. (a)
7,356,995
103,687
Freeport-McMoRan, Inc.
5,991,035
63,145
MP Materials Corp. (a) (b)
4,170,096
112,605
Newmont Corp.
12,509,290
72,085
Nucor Corp.
16,240,030
40,108
Reliance, Inc.
14,539,150
41,056
Royal Gold, Inc.
9,581,649
Shares
Description
Value
 
Metals & Mining (Continued)
60,725
Southern Copper Corp.
$10,425,875
96,743
Steel Dynamics, Inc.
22,121,254
 
131,422,422
Trading Companies &
Distributors — 2.6%
225,177
Fastenal Co.
10,117,203
Total Common Stocks
383,268,597
(Cost $332,399,108)
MONEY MARKET FUNDS — 0.1%
294,546
Morgan Stanley Institutional
Liquidity Funds - Treasury
Portfolio - Institutional Class -
3.52% (c)
294,546
(Cost $294,546)
Principal
Value
Description
Value
REPURCHASE AGREEMENTS — 0.9%
$3,534,824
Daiwa Capital Markets America,
Inc., 3.64% (c), dated
04/30/26, due 05/01/26, with a
maturity value of $3,535,181.
Collateralized by
U.S. Treasury Securities,
interest rates of 1.63% to
4.75%, due 10/31/26 to
02/15/56. The value of the
collateral including accrued
interest is $3,605,522. (d)
3,534,824
(Cost $3,534,824)
Total Investments — 101.0%
387,097,967
(Cost $336,228,478)
Net Other Assets and
Liabilities — (1.0)%
(3,678,179
)
Net Assets — 100.0%
$383,419,788
(a)
Non-income producing security.
(b)
All or a portion of this security is on loan for securities
lending. The remaining contractual maturity of all of the
securities lending transactions is overnight and continuous.
The aggregate value of such securities is $3,713,958 and the
total value of the collateral held by the Fund, including for
securities sold and pending settlement, is $3,534,824. On
April 30, 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 April 29 to April 30, the value of the related
securities loaned was above the collateral value received.
(c)
Rate shown reflects yield as of April 30, 2026.
(d)
This security serves as collateral for securities on loan.

First Trust Materials AlphaDEX® Fund (FXZ)
Portfolio of Investments (Continued)
April 30, 2026 (Unaudited)

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of April 30, 2026 is as follows (see Valuation Inputs in the Additional Information section):
 
Total
Value at
4/30/2026
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks*
$383,268,597
$383,268,597
$
$
Money Market Funds
294,546
294,546
Repurchase
Agreements
3,534,824
3,534,824
Total Investments
$387,097,967
$383,563,143
$3,534,824
$
*
See Portfolio of Investments for industry breakout.

First Trust Technology AlphaDEX® Fund (FXL)
Portfolio of Investments
April 30, 2026 (Unaudited)
Shares
Description
Value
COMMON STOCKS — 100.0%
Communications Equipment
— 0.6%
27,913
F5, Inc. (a)
$9,041,021
Consumer Finance — 0.6%
237,879
Figure Technology Solutions,
Inc., Class A (a)
8,349,553
Consumer Staples Distribution
& Retail — 1.0%
339,554
Maplebear, Inc. (a)
14,380,112
Electrical Equipment — 1.9%
84,979
Vertiv Holdings Co., Class A
27,914,752
Electronic Equipment,
Instruments & Components
— 10.3%
128,406
Amphenol Corp., Class A
18,910,352
113,131
Arrow Electronics, Inc. (a)
21,249,396
206,422
Avnet, Inc.
17,031,879
105,105
CDW Corp.
14,389,926
123,373
Flex Ltd. (a)
11,294,798
696,016
Ingram Micro Holding Corp.
21,416,412
80,164
Jabil, Inc.
27,054,548
96,165
TD SYNNEX Corp.
21,942,930
 
153,290,241
Financial Services — 0.3%
152,321
Toast, Inc., Class A (a)
4,344,195
Interactive Media & Services
— 5.4%
44,234
Alphabet, Inc., Class A
17,021,243
100,875
IAC, Inc. (a)
4,494,990
414,188
Match Group, Inc.
15,498,915
22,232
Meta Platforms, Inc., Class A
13,603,983
440,350
Pinterest, Inc., Class A (a)
8,657,281
29,989
Reddit, Inc., Class A (a)
4,415,280
2,701,006
ZoomInfo Technologies, Inc. (a)
16,881,288
 
80,572,980
IT Services — 11.5%
70,318
Akamai Technologies, Inc. (a)
7,241,347
326,298
Amdocs Ltd.
21,101,692
61,644
Cloudflare, Inc., Class A (a)
12,635,171
347,093
Cognizant Technology Solutions
Corp., Class A
18,361,220
1,694,047
DXC Technology Co. (a)
19,176,612
119,824
EPAM Systems, Inc. (a)
13,633,575
461,812
Globant S.A. (a)
19,040,509
33,318
International Business Machines
Corp.
7,695,791
1,236,595
Kyndryl Holdings, Inc. (a)
17,089,743
16,497
MongoDB, Inc. (a)
4,137,942
51,303
Okta, Inc. (a)
3,778,466
Shares
Description
Value
 
IT Services (Continued)
128,948
Twilio, Inc., Class A (a)
$19,092,041
32,517
VeriSign, Inc.
8,736,017
 
171,720,126
Media — 1.5%
1,707,803
DoubleVerify Holdings, Inc. (a)
18,819,989
355,146
NIQ Global Intelligence PLC (a)
3,881,746
 
22,701,735
Professional Services — 9.2%
23,387
CACI International, Inc.,
Class A (a)
12,150,482
8,416,667
Clarivate PLC (a) (b)
24,155,834
577,704
KBR, Inc.
21,658,123
104,321
Leidos Holdings, Inc.
15,566,780
234,811
Parsons Corp. (a)
11,836,823
133,488
Paycom Software, Inc.
16,920,939
224,338
Science Applications
International Corp.
21,709,188
188,245
SS&C Technologies Holdings,
Inc.
13,045,378
 
137,043,547
Semiconductors &
Semiconductor Equipment
— 34.3%
79,753
Advanced Micro Devices,
Inc. (a)
28,271,641
360,296
Amkor Technology, Inc.
25,130,646
12,693
Analog Devices, Inc.
5,105,886
47,469
Applied Materials, Inc.
18,726,046
36,843
Astera Labs, Inc. (a)
7,174,806
26,093
Broadcom, Inc.
10,892,001
112,184
Cirrus Logic, Inc. (a)
18,294,967
108,493
Entegris, Inc.
15,338,740
364,751
GLOBALFOUNDRIES, Inc. (a)
23,562,915
91,502
Intel Corp. (a)
8,645,109
14,463
KLA Corp.
25,315,312
99,663
Lam Research Corp.
25,699,101
174,905
Lattice Semiconductor Corp. (a)
21,387,383
95,889
MACOM Technology Solutions
Holdings, Inc. (a)
27,003,301
214,984
Marvell Technology, Inc.
35,504,608
63,030
Micron Technology, Inc.
32,596,595
19,476
Monolithic Power Systems, Inc.
31,442,249
72,934
NVIDIA Corp.
14,555,438
79,115
Onto Innovation, Inc. (a)
23,343,672
69,995
Qnity Electronics, Inc.
9,845,497
209,614
Qorvo, Inc. (a)
19,749,831
62,711
QUALCOMM, Inc.
11,261,641
397,650
Skyworks Solutions, Inc.
27,903,100
13,621
Teradyne, Inc.
4,678,405

First Trust Technology AlphaDEX® Fund (FXL)
Portfolio of Investments (Continued)
April 30, 2026 (Unaudited)
Shares
Description
Value
COMMON STOCKS (Continued)
Semiconductors &
Semiconductor Equipment
(Continued)
65,519
Texas Instruments, Inc.
$18,416,081
232,317
Universal Display Corp.
20,232,488
 
510,077,459
Software — 15.9%
10,146
AppLovin Corp., Class A (a)
4,528,667
114,977
Bentley Systems, Inc., Class B
3,750,550
14,532
Cadence Design Systems,
Inc. (a)
4,789,602
673,001
CCC Intelligent Solutions
Holdings, Inc. (a)
3,526,525
10,343
Crowdstrike Holdings, Inc.,
Class A (a)
4,610,392
68,412
Datadog, Inc., Class A (a)
9,043,382
170,344
Docusign, Inc. (a)
7,834,121
270,132
Dolby Laboratories, Inc.,
Class A
17,326,266
559,847
Dropbox, Inc., Class A (a)
13,598,684
109,194
Dynatrace, Inc. (a)
3,953,915
98,826
Fortinet, Inc. (a)
8,332,020
428,890
Gen Digital, Inc.
8,273,288
55,209
Palantir Technologies, Inc.,
Class A (a)
7,680,124
25,188
Palo Alto Networks, Inc. (a)
4,516,712
298,865
Pegasystems, Inc.
10,923,516
89,267
PTC, Inc. (a)
12,167,092
572,578
RingCentral, Inc., Class A
23,029,087
35,945
Roper Technologies, Inc.
12,753,645
68,140
Salesforce, Inc.
12,028,754
127,422
Samsara, Inc., Class A (a)
3,662,108
313,510
SentinelOne, Inc., Class A (a)
4,439,302
10,184
Synopsys, Inc. (a)
4,914,798
496,282
Teradata Corp. (a)
13,077,031
11,794
Tyler Technologies, Inc. (a)
4,023,405
727,569
UiPath, Inc., Class A (a)
7,493,961
264,885
Zoom Communications, Inc. (a)
25,733,578
 
236,010,525
Technology Hardware, Storage
& Peripherals — 7.5%
31,821
Apple, Inc.
8,634,628
129,740
Dell Technologies, Inc., Class C
27,109,173
136,789
Everpure, Inc., Class A (a)
9,773,574
534,217
Hewlett Packard Enterprise Co.
15,369,423
420,407
HP, Inc.
8,769,690
78,875
NetApp, Inc.
8,736,984
Shares
Description
Value
 
Technology Hardware, Storage
& Peripherals (Continued)
712,523
Super Micro Computer, Inc. (a)
$19,523,130
29,858
Western Digital Corp.
12,973,898
 
110,890,500
Total Common Stocks
1,486,336,746
(Cost $1,177,371,384)
MONEY MARKET FUNDS — 0.1%
996,926
Morgan Stanley Institutional
Liquidity Funds - Treasury
Portfolio - Institutional Class -
3.52% (c)
996,926
(Cost $996,926)
Principal
Value
Description
Value
REPURCHASE AGREEMENTS — 0.0%
$108,940
Daiwa Capital Markets America,
Inc., 3.64% (c), dated
04/30/26, due 05/01/26, with a
maturity value of $108,951.
Collateralized by
U.S. Treasury Securities,
interest rates of 1.63% to
4.75%, due 10/31/26 to
02/15/56. The value of the
collateral including accrued
interest is $111,119. (d)
108,940
(Cost $108,940)
Total Investments — 100.1%
1,487,442,612
(Cost $1,178,477,250)
Net Other Assets and
Liabilities — (0.1)%
(963,945
)
Net Assets — 100.0%
$1,486,478,667
(a)
Non-income producing security.
(b)
All or a portion of this security is on loan for securities
lending. The remaining contractual maturity of all of the
securities lending transactions is overnight and continuous.
The aggregate value of such securities is $94,021 and the
total value of the collateral held by the Fund, including for
securities sold and pending settlement, is $108,940.
(c)
Rate shown reflects yield as of April 30, 2026.
(d)
This security serves as collateral for securities on loan.

First Trust Technology AlphaDEX® Fund (FXL)
Portfolio of Investments (Continued)
April 30, 2026 (Unaudited)

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of April 30, 2026 is as follows (see Valuation Inputs in the Additional Information section):
 
Total
Value at
4/30/2026
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks*
$1,486,336,746
$1,486,336,746
$
$
Money Market
Funds
996,926
996,926
Repurchase
Agreements
108,940
108,940
Total Investments
$1,487,442,612
$1,487,333,672
$108,940
$
*
See Portfolio of Investments for industry breakout.

First Trust Utilities AlphaDEX® Fund (FXU)
Portfolio of Investments
April 30, 2026 (Unaudited)
Shares
Description
Value
COMMON STOCKS — 99.9%
Commercial Services &
Supplies — 4.2%
25,996
Clean Harbors, Inc. (a)
$8,128,430
34,033
Republic Services, Inc.
7,120,384
97,313
Waste Management, Inc.
22,630,138
 
37,878,952
Electric Utilities — 49.0%
207,745
Alliant Energy Corp.
15,254,715
170,596
American Electric Power Co.,
Inc.
23,390,418
227,704
Duke Energy Corp.
29,499,053
509,285
Edison International
35,390,215
66,339
Entergy Corp.
7,822,031
363,959
Evergy, Inc.
30,150,364
537,954
Eversource Energy
38,033,348
760,291
Exelon Corp.
34,965,783
294,271
FirstEnergy Corp.
13,983,758
104,272
IDACORP, Inc.
15,405,145
80,253
NextEra Energy, Inc.
7,855,164
204,021
NRG Energy, Inc.
31,741,587
621,676
OGE Energy Corp.
30,337,789
2,121,198
PG&E Corp.
35,254,311
369,920
Pinnacle West Capital Corp.
38,368,102
585,384
PPL Corp.
21,916,777
77,227
Southern (The) Co.
7,467,851
281,491
Xcel Energy, Inc.
23,349,678
 
440,186,089
Gas Utilities — 13.2%
80,705
Atmos Energy Corp.
15,332,336
1,438,975
MDU Resources Group, Inc.
32,420,106
396,652
National Fuel Gas Co.
33,469,496
1,023,323
UGI Corp.
36,931,727
 
118,153,665
Independent Power and
Renewable Electricity
Producers — 6.9%
2,116,079
AES (The) Corp.
30,577,341
569,144
Clearway Energy, Inc., Class C
22,970,652
49,584
Vistra Corp.
7,826,339
 
61,374,332
Multi-Utilities — 21.9%
203,436
Ameren Corp.
23,120,501
345,407
CenterPoint Energy, Inc.
15,077,016
192,160
CMS Energy Corp.
14,746,358
329,293
Consolidated Edison, Inc.
36,712,877
482,296
Dominion Energy, Inc.
31,108,092
152,932
DTE Energy Co.
23,198,255
319,498
NiSource, Inc.
15,425,364
276,240
Public Service Enterprise Group,
Inc.
22,557,758
Shares
Description
Value
 
Multi-Utilities (Continued)
76,710
Sempra
$7,296,655
64,385
WEC Energy Group, Inc.
7,593,567
 
196,836,443
Water Utilities — 4.7%
109,544
American Water Works Co., Inc.
14,067,641
740,391
Essential Utilities, Inc.
28,282,936
 
42,350,577
Total Common Stocks
896,780,058
(Cost $818,315,390)
MONEY MARKET FUNDS — 0.1%
1,329,841
Morgan Stanley Institutional
Liquidity Funds - Treasury
Portfolio - Institutional Class -
3.52% (b)
1,329,841
(Cost $1,329,841)
Total Investments — 100.0%
898,109,899
(Cost $819,645,231)
Net Other Assets and
Liabilities — (0.0)%
(428,700
)
Net Assets — 100.0%
$897,681,199
(a)
Non-income producing security.
(b)
Rate shown reflects yield as of April 30, 2026.

Valuation Inputs
A summary of the inputs used to value the Fund’s investments as of April 30, 2026 is as follows (see Valuation Inputs in the Additional Information section):
 
Total
Value at
4/30/2026
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Common Stocks*
$896,780,058
$896,780,058
$
$
Money Market Funds
1,329,841
1,329,841
Total Investments
$898,109,899
$898,109,899
$
$
*
See Portfolio of Investments for industry breakout.

First Trust Exchange-Traded AlphaDEX® Fund
Additional Information
April 30, 2026 (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.
Licensing Information
Source ICE Data Indices, LLC (“ICE Data”), is used with permission. “StrataQuant®” is a service/trade mark of ICE Data or its affiliates. Frank Russell Company is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell®, Russell 1000®, and Russell 3000® are all registered trademarks of Frank Russell Company. Russell 1000® and Russell 3000® are being utilized in the indices under license. These trademarks have been licensed, along with the StrataQuant® Consumer Discretionary Index, StrataQuant® Consumer Staples Index, StrataQuant® Energy Index, StrataQuant® Financials Index, StrataQuant® Health Care Index, StrataQuant® Industrials Index, StrataQuant® Materials Index, StrataQuant® Technology Index and the StrataQuant® Utilities Index (each, an “Index”) for use by First Trust Portfolios L.P. (“FTP”) in connection with the First Trust Consumer Discretionary AlphaDEX® Fund (FXD), First Trust Consumer Staples AlphaDEX® Fund (FXG), First Trust Energy AlphaDEX® Fund (FXN), First Trust Financials AlphaDEX® Fund (FXO), First Trust Health Care AlphaDEX® Fund (FXH), First Trust Industrials/Producer Durables AlphaDEX® Fund (FXR), First Trust Materials AlphaDEX® Fund (FXZ), First Trust Technology AlphaDEX® Fund (FXL) and the First Trust Utilities AlphaDEX® Fund (FXU), respectively (each, the “Product”). Neither FTP, First Trust Exchange-Traded AlphaDEX® Fund (the “Trust”) nor the Product, as applicable, is sponsored, endorsed, sold or promoted by ICE Data, its affiliates or its Third Party Suppliers including without limitation Frank Russell Company (“ICE Data and its Suppliers”). ICE Data and its Suppliers make no representations or warranties regarding the advisability of investing in securities generally, in the Product particularly, the Trust or the ability of the Index to track general stock market performance. ICE Data’s only relationship to FTP is the licensing of certain trademarks and trade names and the Index or components thereof. The Index is determined, composed and calculated by ICE Data without regard to FTP or the Product or its holders. ICE Data has no obligation to take the needs of FTP or the holders of the Product into consideration in determining, composing or calculating the Index. ICE Data is not responsible for and has not participated in the determination of the timing of, prices of, or quantities of the Product to be issued or in the determination or calculation of the equation by which the Product is to be priced, sold, purchased, or redeemed. Except for certain custom index calculation services, all information provided by ICE Data is general in nature and not tailored to the needs of FTP or any other person, entity or group of persons. ICE Data has no obligation or liability in connection with the administration, marketing, or trading of the Product. ICE Data is not an investment advisor. Inclusion of a security within an index is not a recommendation by ICE Data to buy, sell, or hold such security, nor is it considered to be investment advice.
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