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75/25 Strategic Allocation, 4th Qtr 2023  Ticker: FHQLPX
A unit investment trust which seeks the potential for above-average total return by investing approximately 75% of its assets in common stocks which are selected by applying a disciplined investment strategy and 25% of its assets in exchange-traded funds which invest in fixed-income securities.
Please note that there is no assurance the objective will be met.
Product Code: 7S4Q23
Portfolio Status: Secondary
Initial Offer Date: 09/29/2023
Secondary Date: 01/11/2024
Portfolio Ending Date: 01/16/2025
Tax Structure: Regulated Investment Company
Distributions: Monthly
Initial Offer Price: $10.0000
NAV(*): $11.1368
POP(*): $11.2892
Remaining Deferred Sales Charge: $0.0000
* As of Trade Date: 06/17/2024 4:00pm ET
The Public Offering Price (POP) represents the net asset value per unit plus any applicable organization costs and sales charges. The Net Asset Value (NAV) represents the value per unit of a trust’s portfolio securities and other assets reduced by applicable deferred sales charges and other liabilities.

 Historical 12-Month Distribution of Trust Holdings:^
Rate (as of 6/17/2024) Per Unit (as of 6/17/2024)
2.42% $0.27290
^ There is no guarantee the issuers of the securities included in the trust will declare dividends or distributions in the future. The historical 12-month distribution per unit and historical 12-month distribution rate of the securities included in the trust are for illustrative purposes only and are not indicative of the trust's distribution or distribution rate. The historical 12-month distribution per unit is based on the weighted average of the trailing twelve month distributions paid by the securities included in the portfolio. The historical 12-month distribution rate is calculated by dividing the historical 12-month distributions by the trust's offering price. The historical 12-month distribution and rate are reduced to account for the effects of fees and expenses, which will be incurred when investing in a trust. Certain of the issuers may have reduced their dividends or distributions over the prior twelve months. The distribution per unit and 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. For trusts that include funds, distributions may include realized short term capital gains, realized long-term capital gains and/or return of capital.

 Holdings  Export Current Holdings | View Initial Holdings  
 Broadcom Inc. AVGO 1.16%
 Exxon Mobil Corporation XOM 1.11%
 Vanguard Long-Term Corporate Bond ETF VCLT 0.96%
 iShares 10+ Year Investment Grade Corporate Bond ETF IGLB 0.96%
 SPDR Portfolio Long Term Corporate Bond ETF SPLB 0.96%
 iShares 10-20 Year Treasury Bond ETF TLH 0.95%
 iShares iBoxx $ Investment Grade Corporate Bond ETF LQD 0.94%
 iShares Trust iShares 5-10 Year Investment Grade Corporate Bond ETF IGIB 0.94%
 iShares Broad USD Investment Grade Corporate Bond ETF USIG 0.94%
 Invesco Preferred ETF PGX 0.94%
 iShares Preferred & Income Securities ETF PFF 0.93%
 Vanguard Mortgage-Backed Securities ETF VMBS 0.93%
 SPDR Portfolio Mortgage Backed Bond ETF SPMB 0.93%
 SPDR Portfolio Corporate Bond ETF SPBO 0.93%
 Schwab 5-10 Year Corporate Bond ETF SCHI 0.93%
 iShares 7-10 Year Treasury Bond ETF IEF 0.92%
 iShares MBS ETF MBB 0.92%
 iShares Broad USD High Yield Corporate Bond ETF USHY 0.92%
 SPDR Portfolio High Yield Bond ETF SPHY 0.92%
 Janus Henderson Mortgage-Backed Securities ETF JMBS 0.92%
 iShares 0-5 Year High Yield Corporate Bond ETF SHYG 0.91%
 Amphenol Corporation APH 0.90%
 SPDR Bloomberg Short Term High Yield Bond ETF SJNK 0.90%
 Invesco Senior Loan ETF BKLN 0.89%
 First Trust Senior Loan Fund FTSL 0.89%
 VanEck IG Floating Rate ETF FLTR 0.89%
 VanEck J.P. Morgan EM Local Currency Bond ETF EMLC 0.88%
 SPDR Blackstone Senior Loan ETF SRLN 0.88%
 Costco Wholesale Corporation COST 0.83%
 Amazon.com, Inc. AMZN 0.81%
 Microsoft Corporation MSFT 0.79%
 Lennar Corporation LEN 0.76%
 McKesson Corporation MCK 0.75%
 Vertex Pharmaceuticals Incorporated VRTX 0.75%
 Hitachi, Ltd. (ADR) HTHIY 0.74%
 D.R. Horton, Inc. DHI 0.73%
 Ross Stores, Inc. ROST 0.73%
 General Dynamics Corporation GD 0.73%
 Tokyo Electron Limited (ADR) TOELY 0.72%
 W.W. Grainger, Inc. GWW 0.71%
 Cencora Inc. COR 0.71%
 Walmart Inc. WMT 0.69%
 PACCAR Inc PCAR 0.69%
 Regeneron Pharmaceuticals, Inc. REGN 0.69%
 Novo Nordisk A/S (ADR) NVO 0.69%
 Super Micro Computer, Inc. SMCI 0.69%
 PDD Holdings Inc. (ADR) PDD 0.69%
 Verizon Communications Inc. VZ 0.68%
 The TJX Companies, Inc. TJX 0.68%
 American International Group, Inc. AIG 0.66%
 Elevance Health Inc. ELV 0.66%
 Caterpillar Inc. CAT 0.65%
 The Sherwin-Williams Company SHW 0.65%
 The Procter & Gamble Company PG 0.63%
 Fastenal Company FAST 0.63%
 The Cigna Group CI 0.63%
 Aflac Incorporated AFL 0.62%
 Arthur J. Gallagher & Co. AJG 0.62%
 Phillips 66 PSX 0.62%
 Emerson Electric Co. EMR 0.61%
 Marsh & McLennan Companies, Inc. MMC 0.60%
 O'Reilly Automotive, Inc. ORLY 0.60%
 Crown Castle Inc. CCI 0.60%
 Keurig Dr Pepper Inc. KDP 0.60%
 Consolidated Edison, Inc. ED 0.59%
 Public Storage PSA 0.59%
 Shin-Etsu Chemical Co., Ltd. (ADR) SHECY 0.59%
 DuPont de Nemours Inc. DD 0.59%
 Paychex, Inc. PAYX 0.58%
 Vistra Corp. VST 0.58%
 Danaher Corporation DHR 0.57%
 Valero Energy Corporation VLO 0.57%
 Mitsui & Co., Ltd. (ADR) MITSY 0.57%
 Automatic Data Processing, Inc. ADP 0.56%
 Itochu Corp. (ADR) ITOCY 0.56%
 Corteva Inc. CTVA 0.56%
 Prosus N.V. (ADR) PROSY 0.56%
 Nucor Corporation NUE 0.55%
 Deere & Company DE 0.55%
 UnitedHealth Group Incorporated UNH 0.54%
 Chubb Limited CB 0.54%
 Northrop Grumman Corporation NOC 0.54%
 CME Group Inc. CME 0.54%
 Cognizant Technology Solutions Corporation CTSH 0.53%
 The Kraft Heinz Company KHC 0.53%
 Xcel Energy Inc. XEL 0.52%
 Iberdrola S.A. (ADR) IBDRY 0.52%
 The Hershey Company HSY 0.51%
 EOG Resources, Inc. EOG 0.51%
 Deutsche Telekom AG (ADR) DTEGY 0.51%
 Cheniere Energy, Inc. LNG 0.51%
 L'Oreal S.A. (ADR) LRLCY 0.51%
 Chevron Corporation CVX 0.50%
 Air Liquide S.A. (ADR) AIQUY 0.50%
 Veeva Systems Inc. (Class A) VEEV 0.50%
 Merck KGaA (ADR) MKKGY 0.49%
 Pfizer Inc. PFE 0.48%
 Toyota Motor Corporation TM 0.48%
 SoftBank Corp. (ADR) SOBKY 0.48%
 Cisco Systems, Inc. CSCO 0.47%
 Shell Plc (ADR) SHEL 0.47%
 Canadian Natural Resources Limited CNQ 0.46%
 Rio Tinto Plc (ADR) RIO 0.46%
 Deckers Outdoor Corporation DECK 0.46%
 Glencore Plc (ADR) GLNCY 0.46%
 TotalEnergies SE (ADR) TTE 0.44%
 Williams-Sonoma, Inc. WSM 0.44%
 Archer-Daniels-Midland Company ADM 0.43%
 British American Tobacco Plc (ADR) BTI 0.43%
 Accenture Plc ACN 0.43%
 Mercedes-Benz Group AG (ADR) MBGYY 0.43%
 Honda Motor Co., Ltd. (ADR) HMC 0.41%
 Eni SpA (ADR) E 0.40%
 Comfort Systems USA, Inc. FIX 0.40%
 EMCOR Group, Inc. EME 0.39%
 Sanofi (ADR) SNY 0.39%
 Texas Roadhouse, Inc. TXRH 0.39%
 KDDI Corporation (ADR) KDDIY 0.39%
 Abercrombie & Fitch Co. (Class A) ANF 0.37%
 Equinor ASA EQNR 0.37%
 Medpace Holdings, Inc. MEDP 0.37%
 Toll Brothers, Inc. TOL 0.35%
 Charter Communications, Inc. (Class A) CHTR 0.35%
 PulteGroup, Inc. PHM 0.34%
 Coca-Cola Consolidated Inc. COKE 0.34%
 Nippon Telegraph and Telephone Corporation (ADR) NTTYY 0.34%
 The Hartford Financial Services Group, Inc. HIG 0.31%
 Casey's General Stores, Inc. CASY 0.30%
 Murphy USA Inc. MUSA 0.30%
 East West Bancorp, Inc. EWBC 0.29%
 Meritage Homes Corporation MTH 0.29%
 Western Alliance Bancorporation WAL 0.29%
 Antero Resources Corporation AR 0.29%
 Tradeweb Markets Inc. (Class A) TW 0.29%
 Dillard's, Inc. (Class A) DDS 0.28%
 Brown & Brown, Inc. BRO 0.28%
 Watsco, Inc. WSO 0.28%
 United Therapeutics Corporation UTHR 0.28%
 Taylor Morrison Home Corporation TMHC 0.28%
 MGIC Investment Corporation MTG 0.27%
 The New York Times Company (Class A) NYT 0.27%
 Zions Bancorporation ZION 0.27%
 Allison Transmission Holdings, Inc. ALSN 0.27%
 Hewlett Packard Enterprise Company HPE 0.27%
 Chewy, Inc. (Class A) CHWY 0.27%
 H&R Block, Inc. HRB 0.26%
 Neurocrine Biosciences, Inc. NBIX 0.26%
 Badger Meter, Inc. BMI 0.26%
 Erie Indemnity Company ERIE 0.26%
 BJ's Wholesale Club Holdings, Inc. BJ 0.26%
 United States Steel Corporation X 0.25%
 UFP Industries Inc. UFPI 0.25%
 NewMarket Corporation NEU 0.25%
 Expeditors International of Washington, Inc. EXPD 0.24%
 Southwestern Energy Company SWN 0.24%
 Reliance Inc. RS 0.24%
 Cboe Global Markets Inc. CBOE 0.24%
 National Fuel Gas Company NFG 0.23%
 Viatris Inc. VTRS 0.23%
 Harley-Davidson, Inc. HOG 0.22%
 Unum Group UNM 0.22%
 Coterra Energy Inc. CTRA 0.22%
 RLI Corp. RLI 0.22%
 Commercial Metals Company CMC 0.22%
 Jabil Inc. JBL 0.21%
 Molina Healthcare, Inc. MOH 0.21%
 Qualys, Inc. QLYS 0.20%
 Sprouts Farmers Market, Inc. SFM 0.20%
 HF Sinclair Corp. DINO 0.20%
 CF Industries Holdings, Inc. CF 0.19%
 PBF Energy Inc. PBF 0.18%
 MSC Industrial Direct Co., Inc. (Class A) MSM 0.17%
 Helmerich & Payne, Inc. HP 0.17%
 Encore Wire Corporation WIRE 0.17%
 The Mosaic Company MOS 0.17%
 CSW Industrials, Inc. CSWI 0.17%
 Schneider National, Inc. (Class B) SNDR 0.17%
 KB Home KBH 0.16%
 M/I Homes, Inc. MHO 0.16%
 Strategic Education, Inc. STRA 0.16%
 CBIZ, Inc. CBZ 0.16%
 Innovative Industrial Properties, Inc. IIPR 0.16%
 Cavco Industries, Inc. CVCO 0.15%
 Matson, Inc. MATX 0.15%
 Tri Pointe Homes, Inc. TPH 0.15%
 Tidewater Inc. TDW 0.15%
 MDU Resources Group, Inc. MDU 0.14%
 Sanmina Corporation SANM 0.14%
 American Eagle Outfitters, Inc. AEO 0.14%
 CorVel Corporation CRVL 0.14%
 Acushnet Holdings Corp. GOLF 0.14%
 Warrior Met Coal, Inc. HCC 0.14%
 Graham Holdings Company GHC 0.13%
 Brady Corporation BRC 0.13%
 Radian Group Inc. RDN 0.13%
 Cal-Maine Foods, Inc. CALM 0.13%
 Innospec Inc. IOSP 0.13%
 Grand Canyon Education, Inc. LOPE 0.13%
 NMI Holdings, Inc. (Class A) NMIH 0.13%
 Axonics, Inc. AXNX 0.13%
 Otter Tail Corporation OTTR 0.12%
 Telephone and Data Systems, Inc. TDS 0.12%
 Plexus Corp. PLXS 0.12%
 Avnet, Inc. AVT 0.12%
 Columbia Sportswear Company COLM 0.12%
 PriceSmart, Inc. PSMT 0.12%
 CNX Resources Corporation CNX 0.12%
 Hub Group, Inc. HUBG 0.12%
 Liberty Broadband Corporation (Class C) LBRDK 0.12%
 Liberty Energy Inc. (Class A) LBRT 0.12%
 Alpha Metallurgical Resources, Inc. AMR 0.12%
 Arcosa, Inc. ACA 0.12%
 Cathay General Bancorp CATY 0.11%
 Weis Markets, Inc. WMK 0.11%
 Genworth Financial, Inc. GNW 0.11%
 Rush Enterprises, Inc. (Class A) RUSHA 0.11%
 CVB Financial Corp. CVBF 0.11%
 MYR Group Inc. MYRG 0.11%
 CONSOL Energy Inc. CEIX 0.11%
 TEGNA Inc. TGNA 0.10%
 Terex Corporation TEX 0.10%
 The Andersons, Inc. ANDE 0.10%
 Ingles Markets, Incorporated IMKTA 0.10%
 Arch Resources Inc. ARCH 0.10%
 Peabody Energy Corporation BTU 0.10%
 Inter Parfums, Inc. IPAR 0.09%
 Cogent Communications Holdings, Inc. CCOI 0.09%
 Patterson Companies, Inc. PDCO 0.08%
 Grocery Outlet Holding Corp. GO 0.08%
 APA Corporation APA 0.08%
 ACADIA Pharmaceuticals Inc. ACAD 0.07%
 NetScout Systems, Inc. NTCT 0.07%
 Veralto Corporation VLTO 0.07%
 Air Transport Services Group, Inc. ATSG 0.06%
 Akero Therapeutics, Inc. AKRO 0.06%
Total Number of Holdings:    235
Underlying Securities information represented above is as of 06/14/2024 but will vary with future fluctuations in the market.

Risk Considerations

Equity Risk. An investment in a portfolio containing common stocks is 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.

Brexit Risk. The United Kingdom's official departure from the European Union (commonly referred to as "Brexit") led to volatility in global financial markets, in particular those of the United Kingdom and across Europe, and the weakening in political, regulatory, consumer, corporate and financial confidence in the United Kingdom and Europe. It is not currently possible to determine the extent of the impact that Brexit may have on the portfolio's investments and this uncertainty could negatively impact current and future economic conditions in the United Kingdom and other countries, which could negatively impact the value of the portfolio's investments.

Covenant-Lite Loan Risk. Certain of the funds invest significantly in "covenant-lite" loans, which are loans made with minimal protections for the lender. Because covenant-lite loans are less restrictive on borrowers and provide less protection for lenders than typical corporate loans, the risk of default may be significantly higher.

COVID-19 Economic Impact Risk. The ongoing effects of the COVID-19 global pandemic, or the potential impacts of any future public health crisis, may cause significant volatility and uncertainty in global financial markets. While vaccines have been developed, there is no guarantee that vaccines will be effective against future variants of the disease.

ETF Risk. ETFs 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 ETFs 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, ETFs frequently trade at a discount from their net asset value in the secondary market.

Foreign Securities Risk. Securities of non-U.S. issuers are subject to additional risks, including currency fluctuations, political risks, withholding, the lack of adequate financial information, and exchange control restrictions impacting non-U.S. issuers.

High-Yield or Junk Bonds Risk. Investing in high-yield securities or "junk" bonds should be viewed as speculative and you should review your ability to assume the risks associated with investments which utilize such securities. 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 securities and are affected by short-term credit developments to a greater degree.

Investment Grade Bonds Risk. Investment grade securities are subject to numerous risks including higher interest rates, economic recession, deterioration of the investment grade security market or investors' perception thereof, possible downgrades and defaults of interest and/or principal.

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

Market Disruption Risk. Ongoing armed conflicts between Russia and Ukraine in Europe and among Israel, Hamas and other militant groups in the Middle East, have caused and could continue to cause significant market disruptions and volatility within the markets in Russia, Europe, the Middle East and the United States. The hostilities and sanctions resulting from those hostilities could have a significant impact on certain investments as well as performance.

REITs Risk. An investment in a portfolio containing REIT securities is subject to additional risks including limited diversification. Companies involved in the real estate industry are subject to changes in the real estate market, vacancy rates and competition, volatile interest rates and economic recession.

Senior Loans Risk. The yield on 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.

Small-Cap and Mid-Cap Risk. 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.

Volatility Risk. 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.

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

Important Note. 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.

Operational Risk. 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.

You should carefully consider the trust's investment objectives, risks, and charges and expenses 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 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.

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by FactSet Research Systems Inc. and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, ©2024 CUSIP Global Services. "CUSIP" is a registered trademark of the American Bankers Association.

Fund Cusip Information
30332Q108 (Cash)
30332Q116 (Reinvest)
30332Q124 (Cash-Fee)
30332Q132 (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.
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