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U.S. Infrastructure Portfolio, Series 23
Ticker Symbol: FVHMLX

30 Holdings (As of Day of Deposit)
Ticker Name Initial Weight Price*
ACM AECOM 3.34% $59.40
CAT Caterpillar Inc. 3.29% 216.80
ROAD Construction Partners, Inc. 3.33% 29.21
CMI Cummins Inc. 3.29% 266.67
DE Deere & Company 3.37% 352.69
DOV Dover Corporation 3.31% 130.92
DY Dycom Industries, Inc. 3.34% 86.18
ETN Eaton Corporation Plc 3.37% 136.25
EME EMCOR Group, Inc. 3.31% 107.33
EMR Emerson Electric Co. 3.34% 90.00
FSS Federal Signal Corporation 3.34% 37.35
GNRC Generac Holdings Inc. 3.30% 309.14
ROCK Gibraltar Industries, Inc. 3.34% 88.70
HUBB Hubbell Incorporated 3.30% 183.75
ITT ITT Inc. 3.34% 85.08
J Jacobs Engineering Group Inc. 3.35% 121.65
MTZ MasTec, Inc. 3.35% 91.73
MYRG MYR Group Inc. 3.33% 65.91
PH Parker-Hannifin Corporation 3.32% 295.89
PRIM Primoris Services Corporation 3.34% 38.36
PWR Quanta Services, Inc. 3.32% 83.23
SWK Stanley Black & Decker, Inc. 3.38% 187.95
TTEK Tetra Tech, Inc. 3.36% 129.95
TT Trane Technologies Plc 3.33% 160.48
VMI Valmont Industries, Inc. 3.35% 238.30
WAB Wabtec Corporation 3.32% 72.98
EXP Eagle Materials Inc. 3.35% 126.79
MLM Martin Marietta Materials, Inc. 3.36% 332.80
NUE Nucor Corporation 3.33% 65.86
VMC Vulcan Materials Company 3.30% 167.82

* As of the close of business on 3/9/21. 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 3/10/2021
Initial Public Offering Price $10.00 per Unit
Portfolio Ending Date 3/10/2023
Cash CUSIP 30318G421
Reinvestment CUSIP 30318G439
Fee Accounts Cash CUSIP 30318G447
Fee Accounts Reinvestment CUSIP 30318G454


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

The deferred sales charge will be deducted in three monthly installments commencing 6/18/21.

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.

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 $0.050 per unit collected at the end of the initial offering period. If the price you pay exceeds $10.00 per unit, the creation and development fee will be less than 0.50%; if the price you pay is less than $10.00 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 cost.

You should consider the portfolio's investment objective, risks, and charges and expenses carefully before investing. Contact your financial professional 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 owning common stocks, 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.

You should be aware that the portfolio is concentrated in stocks in the industrials sector which involves additional risks, including limited diversification. The companies engaged in the industrials sector are subject to certain risks, including a deterioration in the general state of the economy, intense competition, domestic and international politics, excess capacity and changing spending trends.

Certain of the securities held by the trust are issued by foreign entities. An investment in a portfolio containing equity securities of foreign issuers is subject to additional risks, including currency fluctuations, political risks, withholding, the lack of adequate financial information, and exchange control restrictions impacting foreign issuers.

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.

Large capitalization companies may grow at a slower rate than the overall market.

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 cybersecurity.

The COVID-19 global pandemic has resulted in major disruptions to economies and markets around the world. Financial markets have experienced extreme volatility and severe losses, negatively impacting global economic growth prospects. The duration of the COVID-19 outbreak and its effects cannot be determined with certainty and may exacerbate other political, social and economic risks.

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
30318G421 (Cash)
30318G439 (Reinvest)
30318G447 (Cash-Fee)
30318G454 (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 professionals 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. (Form CRS)   •  First Trust Advisors L.P. (Form CRS)
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