FEI First Trust MLP and Energy Income Fund

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.