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Alternative Income Portfolio, Series 33
Ticker Symbol: FENLQX

58 Holdings (As of Day of Deposit)
Ticker Name Initial
Weight
Price*
BUSINESS DEVELOPMENT COMPANIES (20.00%)
AINV Apollo Investment Corporation 2.50% $15.13
ARCC Ares Capital Corporation 2.50% 17.00
HTGC Hercules Capital, Inc. 2.50% 12.30
MAIN Main Street Capital Corporation 2.51% 37.19
PFLT PennantPark Floating Rate Capital Ltd. 2.50% 12.85
PNNT PennantPark Investment Corporation 2.50% 6.90
PSEC Prospect Capital Corporation 2.50% 6.61
SLRC Solar Capital Ltd. 2.50% 20.94
CLOSED-END FUNDS (20.00%)
LDP Cohen & Steers Limited Duration Preferred and Income Fund, Inc. 2.00% 23.90
DPG Duff & Phelps Global Utility Income Fund Inc. 2.00% 14.80
FTF Franklin Limited Duration Income Trust 2.00% 9.70
USA Liberty All-Star Equity Fund 2.00% 6.07
NRO Neuberger Berman Real Estate Securities Income Fund Inc. 2.00% 4.94
JQC Nuveen Credit Strategies Income Fund 2.00% 7.76
ZF Virtus Total Return Fund Inc. 2.00% 9.98
EOD Wells Fargo Global Dividend Opportunity Fund 2.00% 5.26
EAD Wells Fargo Income Opportunities Fund 2.00% 7.87
ERC Wells Fargo Multi-Sector Income Fund 2.00% 12.23
DIVIDEND-PAYING COMPANIES (20.00%)
ABC AmerisourceBergen Corporation 1.02% 78.77
AMGN Amgen Inc. 0.98% 186.70
BBY Best Buy Co., Inc. 0.99% 70.11
CSCO Cisco Systems, Inc. 0.99% 52.74
CMI Cummins Inc. 1.00% 155.63
DAL Delta Air Lines, Inc. 0.99% 49.76
DOV Dover Corporation 1.01% 90.30
HD The Home Depot, Inc. 1.00% 188.75
IR Ingersoll-Rand Plc 0.98% 104.23
INTC Intel Corporation 1.00% 53.26
KLAC KLA-Tencor Corporation 0.99% 120.53
LMT Lockheed Martin Corporation 1.03% 294.01
LYB LyondellBasell Industries N.V. 1.00% 85.07
NEE NextEra Energy, Inc. 1.02% 193.93
PEP PepsiCo, Inc. 0.99% 120.72
PSX Phillips 66 1.01% 95.98
RCL Royal Caribbean Cruises Ltd. 1.02% 115.58
TROW T. Rowe Price Group, Inc. 0.98% 98.76
TGT Target Corporation 1.01% 78.32
WBA Walgreens Boots Alliance, Inc. 0.99% 62.41
MLP CLOSED-END FUNDS (20.00%)
EMO ClearBridge Energy Midstream Opportunity Fund Inc. 2.00% 9.64
CEM ClearBridge MLP & Midstream Fund Inc. 2.00% 12.57
MIE Cohen & Steers MLP Income and Energy Opportunity Fund, Inc. 2.00% 9.32
SRV The Cushing MLP & Infrastructure Total Return Fund 2.00% 10.28
DSE Duff & Phelps Select MLP and Midstream Energy Fund Inc. 2.00% 4.99
GER Goldman Sachs MLP and Energy Renaissance Fund 2.00% 5.52
KMF Kayne Anderson Midstream/Energy Fund, Inc. 2.00% 11.75
KYN Kayne Anderson MLP/Midstream Investment Company 2.00% 15.91
NML Neuberger Berman MLP Income Fund Inc. 2.00% 7.91
SMM Salient Midstream & MLP Fund 2.00% 9.07
REAL ESTATE INVESTMENT TRUSTS
(20.00%)
CPT Camden Property Trust 1.99% 99.81
CONE CyrusOne Inc. 1.99% 52.14
HIW Highwoods Properties, Inc. 2.00% 46.06
HPT Hospitality Properties Trust 2.00% 26.03
MAA Mid-America Apartment Communities, Inc. 2.02% 107.94
NHI National Health Investors, Inc. 2.02% 78.23
OHI Omega Healthcare Investors, Inc. 1.99% 36.98
PLD Prologis, Inc. 2.00% 71.07
SPG Simon Property Group, Inc. 1.98% 177.60
STOR STORE Capital Corporation 2.00% 33.15

* As of the close of business on 3/22/19.
Market values are for reference only and are not indicative of your individual cost basis.


Not FDIC Insured • Not Bank Guaranteed • May Lose Value

Portfolio Summary
Initial Date of Deposit 3/25/2019
Initial Public Offering Price $10.00 per Unit
Portfolio Ending Date 3/25/2021
Historical 12-Month Distribution Rate of Trust Holdings:* 6.74%
Cash CUSIP 302652300
Reinvestment CUSIP 302652318
Fee Accounts Cash CUSIP 302652326
Fee Accounts Reinvestment CUSIP 302652334

*There is no guarantee the issuers of the securities included in the trust will declare dividends or distributions in the future. The historical distribution rate of the securities included in the trust is for illustrative purposes only and is not indicative of the trust’s distribution rate. The historical distribution rate is calculated by dividing the weighted average of the trailing twelve month distributions paid by the securities included in the portfolio by the trust’s offering price and is reduced to account for the effects of fees and expenses which will be incurred when investing in a trust. Distributions may include realized short term capital gains, realized long-term capital gains and/or return of capital. Certain of the issuers may have reduced their dividends or distributions over the prior twelve months. The distribution rate paid by the trust may be higher or lower than the amount shown above due to certain factors that may include, but are not limited to, a change in the dividends or distributions paid by issuers, actual expenses incurred, or the sale of securities in the portfolio.


Sales Charges (based on a $10 public offering price)
Standard Accounts
Transactional Sales Charges: Initial: 0.00%
  Deferred: 2.25%
Creation & Development Fee:   0.50%
Maximum Sales Charge:  2.75%

The deferred sales charge will be deducted in three monthly installments commencing 7/19/19.

When the public offering price is less than or equal to $10.00 per unit, there will be no initial sales charge. If the price exceeds $10.00 per unit, you will pay an initial sales charge.

Fee/Wrap Accounts
Maximum Sales Charge: 0.50%

The maximum sales charge for investors in fee accounts consists of the creation and development fee. Investors in fee accounts are not assessed any transactional sales charges. Standard accounts sales charges apply to units purchased as an ineligible asset.

The creation and development fee is a charge of $.050 per unit collected at the end of the initial offering period. If the price you pay exceeds $10 per unit, the creation and development fee will be less than 0.50%; if the price you pay is less than $10 per unit, the creation and development fee will exceed 0.50%.

In addition to the sales charges listed, UITs are subject to annual operating expenses and organization costs.

You should carefully consider the portfolio investment objective, 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 portfolio. Read it carefully before you invest.

Risk Considerations:
An investment in this unmanaged unit investment trust should be made with an understanding of the risks involved with an investment in a portfolio of common stocks and closed-end funds.

Closed-end funds are subject to various risks, including management’s ability to meet the fund’s investment objective, and to manage the fund’s portfolio when the underlying securities are redeemed or sold, during periods of market turmoil and as investors’ perceptions regarding the funds or their underlying investments change. Unlike open-end funds, which trade at prices based on a current determination of the fund’s net asset value, closed-end funds frequently trade at a discount to their net asset value in the secondary market. Certain closed-end funds employ the use of leverage, which increases the volatility of such funds.

Common stocks are subject to certain risks, such as an economic recession and the possible deterioration of either the financial condition of the issuers of the equity securities or the general condition of the stock market.

Certain of the securities in the portfolio are issued by closed-end investment companies which have been elected to be treated as Business Development Companies (BDCs). An investment in BDCs is subject to various risks, including management’s ability to meet the BDC’s investment objective, and to manage the BDC’s portfolio during periods of market turmoil. BDCs may trade in the market at a discount to their net asset value. BDCs may employ the use of leverage which subjects the BDC to increased risks.

Certain of the common stocks are issued by, and certain of the closed-end funds invest in REITs. Companies involved in the real estate industry are subject to changes in the real estate market, vacancy rates, competition, volatile interest rates and economic recession.

Certain of the closed-end funds invest in high-yield securities or “junk” bonds. Investing in high-yield securities should be viewed as speculative and you should review your ability to assume the risks associated with investments that utilize such bonds. High-yield securities are subject to numerous risks including higher interest rates, economic recession, deterioration of the junk bond market, possible downgrades and defaults of interest and/or principal. High-yield security prices tend to fluctuate more than higher rated bonds and are affected by short-term credit developments to a greater degree.

Certain of the closed-end funds invest in MLPs. Investments in MLPs are subject to the risks generally applicable to companies in the energy and natural resources sectors, including commodity pricing risk, supply and demand risk, depletion risk and exploration risk. U.S. taxing authorities could challenge the trust’s treatment of the MLPs for federal income tax purposes. These tax risks could have a negative impact on the after-tax income available for distribution by the MLPs and/or the value of the trust’s investments.

An investment in a portfolio which includes securities issued by foreign entities should be made with an understanding of the additional risks involved, including currency and interest rate fluctuations, nationalization or other adverse political or economic developments, lack of liquidity of certain foreign markets, withholding, the lack of adequate financial information, and exchange control restrictions impacting foreign issuers.

Certain of the funds invest in senior loans. The yield on closed-end funds which invest in senior loans will generally decline in a falling interest rate environment and increase in a rising interest rate environment. Senior loans are generally below investment grade quality (“junk” bonds). An investment in senior loans involves the risk that the borrowers may default on their obligations to pay principal or interest when due.

Certain of the closed-end funds invest in floating-rate securities. A floating-rate security is an instrument in which the interest rate payable on the obligation fluctuates on a periodic basis based upon changes in an interest rate benchmark. As a result, the yield on such a security will generally decline in a falling interest rate environment, causing the trust to experience a reduction in the income it receives from such securities.

An investment in a portfolio containing small-cap and mid-cap companies is subject to additional risks, as the share prices of small-cap companies and certain mid-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.

It is important to note that an investment can be made in the underlying funds directly rather than through the trust. These direct investments can be made without paying the trust’s sales charge, operating expenses and organizational costs.

As the use of Internet technology has become more prevalent in the course of business, the trust has become more susceptible to potential operational risks through breaches in cyber security.

For a discussion of additional risks of investing in the trust see the “Risk Factors” section of the prospectus.

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.

This UIT is a buy and hold strategy and investors should consider their ability to hold the trust until maturity. There may be tax consequences unless units are purchased in an IRA or other qualified plan.

 
Fund Cusip Information
302652300 (Cash)
302652318 (Reinvest)
302652326 (Cash-Fee)
302652334 (Reinvest-Fee)
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The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or any other regulatory framework. Financial advisors are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
First Trust Portfolios L.P.  Member SIPC and FINRA.
First Trust Advisors L.P.
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