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Target VIP, March 2012  Ticker: FSMKHX
 
Description
The Target VIP Portfolio is a unit investment trust that seeks to outperform the S&P 500 Index by adhering to a disciplined investment process that targets six distinct methods of investing in the stock market.
 
Summary
Product Code: VPMR12
Portfolio Status: Secondary
Initial Offer Date: 03/01/2012
Secondary Date: 04/02/2012
Portfolio Ending Date: 05/31/2013
Tax Structure: RIC
Distributions: Semi-Annual
 
Initial Offer Price: $10.0000
NAV(*): $11.1062
POP(*): $11.3851
* As of Trade Date: 05/21/2013 4:00pm ET

 Estimated Net Annual Distribution Per Unit
Estimated Net Annual Distribution Per Unit * $0.2103
As of 05/20/2013
* There is no guarantee that the issuers of the securities included in the portfolio will declare distributions in the future or that, if declared, they will either remain at current levels or increase over time.

 Holdings Analysis Click here to Perform a Benchmark Comparison  
 Sector Weighting
Consumer Discretionary  Consumer Discretionary 21.55%
Consumer Staples  Consumer Staples 3.63%
Energy  Energy 7.27%
Financials  Financials 6.57%
Health Care  Health Care 12.47%
Industrials  Industrials 3.81%
Information Technology  Information Technology 25.93%
Materials  Materials 2.95%
Telecommunication Services  Telecommunication Services 9.05%
Utilities  Utilities 5.77%
Other  Other 1.00%
 
  Large Mid Small  
Growth  41.40% 2.35% 16.82%  
Value  34.50% 3.15% 0.78%  

 Style Weighting
Large-Cap Growth 41.40%
Large-Cap Value 34.50%
Mid-Cap Growth 2.35%
Mid-Cap Value 3.15%
Small-Cap Growth 16.82%
Small-Cap Value 0.78%
Undetermined 1.00%
 Composition
U.S. Stocks 77.27%   Other 1.00%
Non-U.S. Stocks 21.73%      
The style and sector characteristics of the portfolio are determined as of 05/21/2013 and will likely vary thereafter due to market fluctuations in the underlying securities.  

 Holdings  Export Current Holdings | View Initial Holdings  
NameSymbolSectorStyleWeighting
 Apple Inc. AAPL Information Technology  Information Technology Large-Cap Value 5.95%
 International Business Machines Corporation IBM Information Technology  Information Technology Large-Cap Growth 4.91%
 The Home Depot, Inc. HD Consumer Discretionary  Consumer Discretionary Large-Cap Growth 4.83%
 Microsoft Corporation MSFT Information Technology  Information Technology Large-Cap Growth 3.96%
 Pfizer Inc. PFE Health Care  Health Care Large-Cap Value 3.93%
 BT Group PLC (ADR) BT Telecommunication Services  Telecommunication Services Large-Cap Growth 3.81%
 Intel Corporation INTC Information Technology  Information Technology Large-Cap Value 3.55%
 Exxon Mobil Corporation XOM Energy  Energy Large-Cap Value 3.08%
 McDonald’s Corporation MCD Consumer Discretionary  Consumer Discretionary Large-Cap Growth 2.97%
 Seagate Technology STX Information Technology  Information Technology Large-Cap Growth 2.25%
 Macy's, Inc. M Consumer Discretionary  Consumer Discretionary Large-Cap Growth 2.03%
 Gilead Sciences, Inc. GILD Health Care  Health Care Large-Cap Growth 1.82%
 3M Company MMM Industrials  Industrials Large-Cap Growth 1.68%
 Amgen Inc. AMGN Health Care  Health Care Large-Cap Growth 1.50%
 CF Industries Holdings, Inc. CF Materials  Materials Mid-Cap Value 1.49%
 The Chubb Corporation CB Financials  Financials Large-Cap Value 1.43%
 Philip Morris International Inc. PM Consumer Staples  Consumer Staples Large-Cap Growth 1.39%
 Tata Motors Limited (ADR) TTM Consumer Discretionary  Consumer Discretionary Large-Cap Value 1.38%
 Halliburton Company HAL Energy  Energy Large-Cap Value 1.34%
 DIRECTV, Inc. DTV Consumer Discretionary  Consumer Discretionary Large-Cap Growth 1.30%
 Biogen Idec Inc. BIIB Health Care  Health Care Large-Cap Growth 1.22%
 Starbucks Corporation SBUX Consumer Discretionary  Consumer Discretionary Large-Cap Growth 1.04%
 Marathon Petroleum Corporation MPC Energy  Energy Large-Cap Value 1.00%
 Celgene Corporation CELG Health Care  Health Care Large-Cap Growth 0.98%
 The Progressive Corporation PGR Financials  Financials Large-Cap Value 0.94%
 Centrica Plc CNA.LN Utilities  Utilities Large-Cap Growth 0.91%
 SSE Plc SSE.LN Utilities  Utilities Large-Cap Value 0.91%
 National Grid Plc NG/.LN Utilities  Utilities Large-Cap Value 0.90%
 AXA S.A. CS.FP Financials  Financials Large-Cap Value 0.86%
 AstraZeneca Plc AZN.LN Health Care  Health Care Large-Cap Value 0.85%
 Vodafone Group Plc VOD.LN Telecommunication Services  Telecommunication Services Large-Cap Value 0.80%
 Swisscom AG SCMN.VX Telecommunication Services  Telecommunication Services Large-Cap Growth 0.78%
 Eni SpA ENI.IM Energy  Energy Large-Cap Value 0.74%
 Deutsche Telekom AG DTE.GY Telecommunication Services  Telecommunication Services Large-Cap Value 0.74%
 Seadrill Ltd SDRL.NO Energy  Energy Large-Cap Growth 0.70%
 TeliaSonera AB TLSN.SS Telecommunication Services  Telecommunication Services Large-Cap Value 0.69%
 Vivendi S.A. VIV.FP Telecommunication Services  Telecommunication Services Large-Cap Value 0.68%
 Enel SpA ENEL.IM Utilities  Utilities Large-Cap Value 0.67%
 EDF SA (Electricite de France) EDF.FP Utilities  Utilities Large-Cap Value 0.67%
 The Advisory Board Company ABCO Industrials  Industrials Small-Cap Growth 0.63%
 Hibbett Sports Inc. HIBB Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.60%
 Banco Santander S.A. SAN.SM Financials  Financials Large-Cap Value 0.60%
 First Cash Financial Services, Inc. FCFS Financials  Financials Small-Cap Growth 0.60%
 MarketAxess Holdings, Inc. MKTX Financials  Financials Small-Cap Growth 0.60%
 Telefonica S.A. TEF.SM Telecommunication Services  Telecommunication Services Large-Cap Value 0.59%
 RWE AG RWE.GY Utilities  Utilities Large-Cap Value 0.59%
 GDF Suez GSZ.FP Utilities  Utilities Large-Cap Value 0.59%
 Texas Capital Bancshares, Inc. TCBI Financials  Financials Small-Cap Growth 0.58%
 Manhattan Associates, Inc. MANH Information Technology  Information Technology Small-Cap Growth 0.57%
 Bank of the Ozarks, Inc. OZRK Financials  Financials Small-Cap Growth 0.56%
 Prestige Brands Holdings Inc. PBH Consumer Staples  Consumer Staples Small-Cap Growth 0.55%
 Buckeye Technologies Inc. BKI Materials  Materials Small-Cap Growth 0.54%
 Monro Muffler Brake, Inc. MNRO Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.53%
 E.ON SE EOAN.GY Utilities  Utilities Large-Cap Value 0.53%
 Dollar Tree, Inc. DLTR Consumer Discretionary  Consumer Discretionary Mid-Cap Growth 0.52%
 Synaptics Incorporated SYNA Information Technology  Information Technology Small-Cap Growth 0.52%
 MasterCard, Inc. MA Information Technology  Information Technology Large-Cap Growth 0.52%
 DealerTrack Technologies Inc. TRAK Information Technology  Information Technology Small-Cap Growth 0.52%
 B&G Foods, Inc. BGS Consumer Staples  Consumer Staples Small-Cap Growth 0.52%
 Colgate–Palmolive Company CL Consumer Staples  Consumer Staples Large-Cap Growth 0.51%
 AutoZone, Inc. AZO Consumer Discretionary  Consumer Discretionary Large-Cap Growth 0.50%
 Air Methods Corporation AIRM Health Care  Health Care Small-Cap Growth 0.50%
 France Telecom S.A. FTE.FP Telecommunication Services  Telecommunication Services Large-Cap Value 0.49%
 Asbury Automotive Group Inc. ABG Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.48%
 Cardtronics Inc. CATM Information Technology  Information Technology Small-Cap Growth 0.48%
 Vitamin Shoppe, Inc. VSI Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.48%
 Acorda Therapeutics Inc. ACOR Health Care  Health Care Small-Cap Growth 0.46%
 Heartland Payment Systems, Inc. HPY Information Technology  Information Technology Small-Cap Growth 0.45%
 PDL BioPharma Inc. PDLI Health Care  Health Care Small-Cap Growth 0.44%
 Intuitive Surgical, Inc. ISRG Health Care  Health Care Large-Cap Growth 0.43%
 Torchmark Corporation TMK Financials  Financials Mid-Cap Value 0.40%
 The Finish Line, Inc. (Class A) FINL Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.40%
 Lithia Motors, Inc. LAD Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.40%
 Glatfelter GLT Materials  Materials Small-Cap Growth 0.40%
 BJ's Restaurants Inc. BJRI Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.40%
 OSI Systems, Inc. OSIS Information Technology  Information Technology Small-Cap Growth 0.39%
 RBC Bearings Inc. ROLL Industrials  Industrials Small-Cap Growth 0.39%
 Bottomline Technologies, Inc. EPAY Information Technology  Information Technology Small-Cap Growth 0.37%
 Cal-Maine Foods, Inc. CALM Consumer Staples  Consumer Staples Small-Cap Growth 0.35%
 SHFL entertainment, Inc. SHFL Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.34%
 Mattel, Inc. MAT Consumer Discretionary  Consumer Discretionary Large-Cap Growth 0.34%
 Sinclair Broadcast Group, Inc. SBGI Consumer Discretionary  Consumer Discretionary Mid-Cap Growth 0.34%
 Fastenal Company FAST Industrials  Industrials Large-Cap Growth 0.33%
 Ross Stores, Inc. ROST Consumer Discretionary  Consumer Discretionary Large-Cap Growth 0.33%
 Monolithic Power Systems MPWR Information Technology  Information Technology Small-Cap Growth 0.31%
 Cincinnati Bell Inc. CBB Telecommunication Services  Telecommunication Services Small-Cap Growth 0.27%
 Red Robin Gourmet Burgers Inc. RRGB Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.27%
 Bridgepoint Education, Inc. BPI Consumer Discretionary  Consumer Discretionary Small-Cap Value 0.26%
 Dillard’s, Inc. (Class A) DDS Consumer Discretionary  Consumer Discretionary Mid-Cap Value 0.25%
 Helmerich & Payne, Inc. HP Energy  Energy Mid-Cap Value 0.23%
 Old Dominion Freight Line, Inc. ODFL Industrials  Industrials Mid-Cap Growth 0.23%
 FARO Technologies, Inc. FARO Information Technology  Information Technology Small-Cap Growth 0.23%
 Rockwell Collins, Inc. COL Industrials  Industrials Mid-Cap Growth 0.22%
 Standard Motor Products, Inc. SMP Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.21%
 DISH Network Corp. DISH Consumer Discretionary  Consumer Discretionary Large-Cap Growth 0.20%
 Sonic Automotive, Inc. SAH Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.20%
 American Axle & Manufacturing Holdings, Inc. AXL Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.20%
 United Rentals, Inc. URI Industrials  Industrials Mid-Cap Growth 0.20%
 8x8, Inc. EGHT Telecommunication Services  Telecommunication Services Small-Cap Growth 0.20%
 LivePerson Inc. LPSN Information Technology  Information Technology Small-Cap Growth 0.19%
 Forest Laboratories, Inc. FRX Health Care  Health Care Mid-Cap Value 0.18%
 Airgas, Inc. ARG Materials  Materials Mid-Cap Growth 0.18%
 KLA–Tencor Corporation KLAC Information Technology  Information Technology Mid-Cap Value 0.18%
 PetSmart, Inc. PETM Consumer Discretionary  Consumer Discretionary Mid-Cap Growth 0.18%
 Oil States International, Inc. OIS Energy  Energy Mid-Cap Value 0.18%
 FMC Corporation FMC Materials  Materials Mid-Cap Growth 0.18%
 MTS Systems Corporation MTSC Information Technology  Information Technology Small-Cap Growth 0.17%
 ATMI, Inc. ATMI Information Technology  Information Technology Small-Cap Value 0.16%
 Hi-Tech Pharmacal Co., Inc. HITK Health Care  Health Care Small-Cap Value 0.16%
 Neenah Paper, Inc. NP Materials  Materials Small-Cap Growth 0.16%
 Lorillard, Inc. LO Consumer Staples  Consumer Staples Large-Cap Growth 0.16%
 Advance Auto Parts, Inc. AAP Consumer Discretionary  Consumer Discretionary Mid-Cap Growth 0.15%
 Monster Beverage Corporation MNST Consumer Staples  Consumer Staples Mid-Cap Growth 0.15%
 Cirrus Logic, Inc. CRUS Information Technology  Information Technology Small-Cap Growth 0.14%
 Coinstar, Inc. CSTR Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.14%
 Cintas Corporation CTAS Industrials  Industrials Mid-Cap Value 0.13%
 The Men's Wearhouse, Inc. MW Consumer Discretionary  Consumer Discretionary Small-Cap Value 0.13%
 Jabil Circuit, Inc. JBL Information Technology  Information Technology Mid-Cap Value 0.11%
 Apollo Group, Inc. (Class A) APOL Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.08%
 Body Central Corporation BODY Consumer Discretionary  Consumer Discretionary Small-Cap Value 0.07%
 
Total Number of Holdings:    120
Underlying Securities information represented above is as of 05/21/2013 but will vary with future fluctuations in the market.

An investment in an equity portfolio should be made with an understanding of the risks associated with an investment in common stocks including the risk that the financial condition of the issuers of the equities or the general condition of the stock market may worsen.

A portfolio which is concentrated in an individual sector is subject to additional risks, including limited diversification.

An investment in securities of foreign issuers should be made with an understanding of the additional risks involved, such as currency fluctuations, political risk, withholding, the lack of adequate financial information, and exchange control restrictions impacting foreign issuers.

An investment in a portfolio containing small-cap companies is subject to additional risks, as the share prices of small-cap companies are often more volatile than those of larger companies due to several factors, including limited trading volumes, products, financial resources, management inexperience and less publicly available information.

The companies engaged in the technology sector are subject to fierce competition, high research and development costs, and their products and services may be subject to rapid obsolescence. Technology company stocks, especially those which are Internet-related, may experience extreme price and volume fluctuations that are often unrelated to their operating performance.

The value of the securities held by the trust may be subject to steep declines or increased volatility due to changes in performance or perception of the issuers.

All data used for the sector and style classification comparisons is from Bloomberg Finance L.P, which we believe to be reliable, but do not take responsibility for its accuracy.

The style and capitalization characteristics used to describe the stocks are designed to help you understand how they fit into your overall investment plan. Due to changes in the value of the stocks the characteristics may vary over time. In general, growth stocks have high relative price-to-book ratios while value stocks have low relative price-to-book ratios. In determining market capitalization characteristics, we analyze the market capitalizations of the 3,000 largest stocks in the U.S. (excluding foreign securities, ADRs, limited partnerships and regulated investment companies) on a monthly basis. Companies with market capitalizations among the largest 10% are considered Large-Cap securities, the next 20% are considered Mid-Cap securities and the remaining securities are considered Small-Cap securities.

Although the portfolio terminates in approximately one year, the strategy is long-term. Investors should consider their ability to pursue investing in successive portfolios, if available. There may be tax consequences unless units are purchased in an IRA or other qualified plan. The rollover option is subject to modification, termination, or suspension.

You should carefully consider the trust's investment objectives, risks, and charges and expenses before investing. Contact your financial advisor or call First Trust Portfolios, L.P. at 1.800.621.1675 to request a prospectus, which contains this and other information about the trust. Read it carefully before you invest.

This product information does not constitute an offer to sell, or a solicitation of an offer to buy securities in any state to any person to whom it is not lawful to make such an offer. Sales of any of these securities must include prospectus delivery and the services of a retail broker/dealer duly licensed in the appropriate states.

Not FDIC Insured, Not Bank Guaranteed and May Lose Value.

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