First Trust MLP and Energy Income Fund (FEI)
Portfolio of Investments
July 31, 2023 (Unaudited)
Units   Description   Value
MASTER LIMITED PARTNERSHIPS (a) – 61.6%
    Chemicals – 2.9%    
539,120  
Westlake Chemical Partners, L.P.
  $12,243,415
    Energy Equipment & Services – 0.3%    
74,200  
USA Compression Partners, L.P.
  1,477,322
    Gas Utilities – 0.7%    
204,400  
Suburban Propane Partners, L.P.
  3,021,032
    Independent Power & Renewable Electricity Producers – 1.4%    
113,689  
NextEra Energy Partners, L.P. (b) (c)
  6,190,366
    Oil, Gas & Consumable Fuels – 56.3%    
645,423  
Cheniere Energy Partners, L.P.
  33,336,098
2,859,409  
Energy Transfer, L.P.
  38,001,546
40,000  
EnLink Midstream, LLC (b)
  464,000
1,741,041  
Enterprise Products Partners, L.P.
  46,154,997
664,310  
Hess Midstream, L.P., Class A (b)
  20,719,829
342,887  
Holly Energy Partners, L.P.
  6,686,296
704,735  
Magellan Midstream Partners, L.P.
  46,702,788
579,000  
MPLX, L.P.
  20,560,290
1,551,620  
Plains All American Pipeline, L.P.
  23,088,106
101,069  
TXO Partners, L.P.
  2,222,507
85,000  
Western Midstream Partners, L.P.
  2,402,950
        240,339,407
   
Total Master Limited Partnerships
  263,271,542
    (Cost $149,003,724)    
Shares   Description   Value
COMMON STOCKS (a) – 58.9%
    Electric Utilities – 10.7%    
93,100  
Alliant Energy Corp. (c)
  5,003,194
86,950  
American Electric Power Co., Inc.
  7,368,143
99  
Constellation Energy Corp.
  9,568
12,300  
Duke Energy Corp.
  1,151,526
14,500  
Emera, Inc. (CAD)
  588,181
590,683  
Enel S.p.A., ADR
  4,037,200
12,500  
Entergy Corp.
  1,283,750
54,700  
Eversource Energy
  3,956,451
150,000  
Exelon Corp. (c)
  6,279,000
10,100  
Fortis, Inc. (CAD)
  430,532
14,500  
Iberdrola S.A., ADR
  724,826
24,900  
IDACORP, Inc.
  2,560,218
32,350  
NextEra Energy, Inc. (c)
  2,371,255
15,700  
Orsted A/S, ADR
  455,300
86,980  
PPL Corp. (c)
  2,394,560
64,800  
Southern (The) Co.
  4,687,632
34,500  
Xcel Energy, Inc.
  2,164,185
        45,465,521
    Energy Equipment & Services – 0.9%    
315,800  
Archrock, Inc.
  3,682,228
    Gas Utilities – 6.6%    
134,190  
AltaGas Ltd. (CAD)
  2,648,895
42,900  
Atmos Energy Corp.
  5,221,359
236,570  
National Fuel Gas Co.
  12,564,233
72,960  
New Jersey Resources Corp.
  3,261,312
First Trust MLP and Energy Income Fund (FEI)
Portfolio of Investments (Continued)
July 31, 2023 (Unaudited)
Shares   Description   Value
COMMON STOCKS (a) (Continued)
    Gas Utilities (Continued)    
48,000  
ONE Gas, Inc.
  $3,798,240
32,839  
UGI Corp.
  886,325
        28,380,364
    Independent Power & Renewable Electricity Producers – 1.0%    
93,670  
AES (The) Corp. (c)
  2,026,082
77,403  
Clearway Energy, Inc., Class A
  1,909,532
17,900  
EDP Renovaveis S.A. (EUR)
  341,860
        4,277,474
    Multi-Utilities – 8.7%    
145,000  
Atco Ltd., Class I (CAD)
  4,138,930
18,089  
CenterPoint Energy, Inc.
  544,298
39,690  
CMS Energy Corp.
  2,423,868
41,000  
DTE Energy Co.
  4,686,300
134,130  
Public Service Enterprise Group, Inc. (c)
  8,466,285
98,100  
Sempra (c)
  14,618,862
27,360  
WEC Energy Group, Inc.
  2,458,570
        37,337,113
    Oil, Gas & Consumable Fuels – 30.7%    
192,500  
BP PLC, ADR (c)
  7,180,250
21,820  
Cheniere Energy, Inc. (c)
  3,531,785
295,500  
DT Midstream, Inc.
  15,815,160
319,873  
Enbridge, Inc. (c)
  11,771,326
309,996  
Keyera Corp. (CAD)
  7,760,185
861,353  
Kinder Morgan, Inc.
  15,254,562
235,397  
ONEOK, Inc. (c)
  15,781,015
131,000  
Shell PLC, ADR (c)
  8,073,530
107,100  
Targa Resources Corp.
  8,781,129
189,034  
TC Energy Corp. (c)
  6,780,650
155,300  
TotalEnergies SE, ADR (c)
  9,450,005
608,441  
Williams (The) Cos., Inc. (c)
  20,960,792
        131,140,389
    Semiconductors & Semiconductor Equipment – 0.1%    
2,750  
Enphase Energy, Inc. (d)
  417,533
    Water Utilities – 0.2%    
5,500  
American Water Works Co., Inc.
  810,865
   
Total Common Stocks
  251,511,487
    (Cost $242,544,825)    
MONEY MARKET FUNDS (a) – 2.2%
9,323,984  
Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class - 5.13% (e)
  9,323,984
    (Cost $9,323,984)    
   
Total Investments – 122.7%
  524,107,013
    (Cost $400,872,533)    
    
Number of Contracts   Description   Notional Amount   Exercise Price   Expiration Date   Value
CALL OPTIONS WRITTEN – (0.4)%
(936)  
AES (The) Corp.
  $(2,024,568)   23.00   09/15/23   (32,760)
(931)  
Alliant Energy Corp.
  (5,003,194)   57.50   09/15/23   (27,930)
(1,925)  
BP PLC, ADR
  (7,180,250)   39.00   08/18/23   (44,275)
First Trust MLP and Energy Income Fund (FEI)
Portfolio of Investments (Continued)
July 31, 2023 (Unaudited)
Number of Contracts   Description   Notional Amount   Exercise Price   Expiration Date   Value
CALL OPTIONS WRITTEN (Continued)
(218)  
Cheniere Energy, Inc.
  $(3,528,548)   170.00   09/15/23   $(60,168)
(3,198)  
Enbridge, Inc.
  (11,768,640)   37.50   08/18/23   (67,158)
(1,500)  
Exelon Corp.
  (6,279,000)   42.00   08/18/23   (90,000)
(1,136)  
NextEra Energy Partners, L.P.
  (6,185,520)   60.00   09/15/23   (56,800)
(323)  
NextEra Energy, Inc.
  (2,367,590)   75.00   08/18/23   (25,840)
(500)  
ONEOK, Inc.
  (3,352,000)   70.00   09/15/23   (50,000)
(869)  
PPL Corp.
  (2,392,357)   27.00   08/18/23   (69,520)
(1,341)  
Public Service Enterprise Group, Inc.
  (8,464,392)   65.00   08/18/23   (40,230)
(981)  
Sempra
  (14,618,862)   150.00   08/18/23   (230,535)
(1,310)  
Shell PLC, ADR
  (8,073,530)   62.50   08/18/23   (65,500)
(1,890)  
TC Energy Corp.
  (6,779,430)   40.00   08/18/23   (9,450)
(1,553)  
TotalEnergies SE, ADR
  (9,450,005)   60.00   08/18/23   (257,798)
(3,000)  
Williams (The) Cos., Inc.
  (10,335,000)   34.00   08/18/23   (294,000)
(3,084)  
Williams (The) Cos., Inc.
  (10,624,380)   35.00   08/18/23   (138,780)
   
Total Call Options Written
  (1,560,744)
    (Premiums received $1,286,919)                
    
Outstanding Loans – (22.1)%
(94,500,000)
 
Net Other Assets and Liabilities – (0.2)%
(918,115)
 
Net Assets – 100.0%
$427,128,154
Interest Rate Swap Agreements:
Counterparty   Rate Receivable   Expiration Date   Notional
Amount 		  Rate Payable   Unrealized
Appreciation
(Depreciation)/
Value
Bank of Nova Scotia (1)   5.41%(2)   10/08/23   $10,250,000   2.734%(3)   $69,112
Bank of Nova Scotia (1)   (4)   09/03/24   47,000,000   2.367%(3)   1,598,871
N/A(5) (6)   5.33%(7)   10/21/25   411,980   5.310%(8)   (210)
            $57,661,980       $1,667,773
(1) Payment frequency is monthly
(2) SOFR + 0.11448%
(3) Fixed Rate
(4) 1 month LIBOR until 08/03/23 and then the rate is SOFR + 0.11448%. At 07/31/23, the rate accrued is 5.43%.
(5) Centrally cleared on the Chicago Mercantile Exchange
(6) No cash payments are made by either party prior to the expiration dates shown above
(7) Federal Funds Rate                    
(8) SOFR + 0.01036%
    
(a) All of these securities are available to serve as collateral for the outstanding loans.
(b) This security is taxed as a “C” corporation for federal income tax purposes.
(c) All or a portion of this security’s position represents cover for outstanding options written.
(d) Non-income producing security.
(e) Rate shown reflects yield as of July 31, 2023.
    
Abbreviations throughout the Portfolio of Investments:
ADR American Depositary Receipt
CAD Canadian Dollar
EUR Euro
LIBOR London Interbank Offered Rate
SOFR Secured Overnight Financing Rate
First Trust MLP and Energy Income Fund (FEI)
Portfolio of Investments (Continued)
July 31, 2023 (Unaudited)
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.
A summary of the inputs used to value the Fund’s investments as of July 31, 2023 is as follows:
ASSETS TABLE
  Total
Value at
7/31/2023 		Level 1
Quoted
Prices 		Level 2
Significant
Observable
Inputs 		Level 3
Significant
Unobservable
Inputs
Master Limited Partnerships*
$ 263,271,542 $ 263,271,542 $ — $ —
Common Stocks*
 251,511,487  251,511,487  —  —
Money Market Funds
 9,323,984  9,323,984  —  —
Total Investments
 524,107,013  524,107,013  —  —
Interest Rate Swap Agreements
 1,667,983  —  1,667,983  —
Total
$ 525,774,996 $ 524,107,013 $ 1,667,983 $—
 
LIABILITIES TABLE
  Total
Value at
7/31/2023 		Level 1
Quoted
Prices 		Level 2
Significant
Observable
Inputs 		Level 3
Significant
Unobservable
Inputs
Call Options Written
$ (1,560,744) $ (1,532,814) $ (27,930) $ —
Interest Rate Swap Agreements
 (210)  —  (210)  —
Total
$ (1,560,954) $ (1,532,814) $ (28,140) $—
    
* See Portfolio of Investments for industry breakout.
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