NPORT-EX 2 FT42FT013126.htm EDGAR HTML
First Trust Intermediate Duration Preferred & Income Fund (FPF)
Portfolio of Investments
January 31, 2026 (Unaudited)
 
Shares
Description
Stated
Rate
Stated
Maturity
Value
$25 PAR PREFERRED SECURITIES – 31.9%
Automobiles – 0.5%
85,302
Ford Motor Co. (a)
6.20
%
06/01/59
$1,873,232
147,064
Ford Motor Co. (a)
6.00
%
12/01/59
3,157,464
65,437
Ford Motor Co. (b)
6.50
%
08/15/62
1,491,964
 
6,522,660
Banks – 1.5%
258,245
Bank of America Corp., Series KK (a)
5.38
%
(c)
5,869,909
31,954
Bank of America Corp., Series NN
4.38
%
(c)
583,160
4,875
Bank of America Corp., Series SS
4.75
%
(c)
96,769
90,000
Citigroup, Inc., Series II (d)
6.25
%
(c)
2,258,100
103,503
JPMorgan Chase & Co., Series LL (a)
4.63
%
(c)
2,059,710
72,798
Pinnacle Financial Partners, Inc., Series C (a)
6.75
%
(c)
1,811,214
29,666
Truist Financial Corp., Series R
4.75
%
(c)
582,047
14,933
Wells Fargo & Co., Series Z (a)
4.75
%
(c)
294,180
179,231
Wintrust Financial Corp., Series F (a) (e)
7.88
%
(c)
4,762,168
 
18,317,257
Capital Markets – 4.5%
112,837
Affiliated Managers Group, Inc. (a)
5.88
%
03/30/59
2,425,995
29,434
Affiliated Managers Group, Inc.
4.75
%
09/30/60
513,918
152,344
Affiliated Managers Group, Inc.
4.20
%
09/30/61
2,364,379
363,598
Affiliated Managers Group, Inc. (a)
6.75
%
03/30/64
8,835,431
209,712
Bank of New York Mellon (The) Corp., Series K (a) (e)
6.15
%
(c)
5,402,181
86,495
Brookfield Oaktree Holdings, LLC, Series A (a)
6.63
%
(c)
1,884,726
66,360
Brookfield Oaktree Holdings, LLC, Series B (a)
6.55
%
(c)
1,430,058
574,893
Carlyle Finance LLC
4.63
%
05/15/61
9,974,394
44,837
DigitalBridge Group, Inc., Series H (a)
7.13
%
(c)
861,319
174,620
DigitalBridge Group, Inc., Series I (a)
7.15
%
(c)
3,403,344
105,723
DigitalBridge Group, Inc., Series J (a)
7.13
%
(c)
2,039,397
258,989
KKR Group Finance Co., IX LLC
4.63
%
04/01/61
4,534,897
24,854
Morgan Stanley, Series K (a)
5.85
%
(c)
611,905
68,527
Morgan Stanley, Series Q (a)
6.63
%
(c)
1,796,778
53,023
State Street Corp., Series G (a)
5.35
%
(c)
1,242,329
291,721
TPG Operating Group II, L.P. (a)
6.95
%
03/15/64
7,360,121
 
54,681,172
Consumer Finance – 0.0%
17,460
Capital One Financial Corp., Series I
5.00
%
(c)
343,787
Diversified REITs – 0.2%
84,783
Global Net Lease, Inc., Series A (a) (b)
7.25
%
(c)
1,984,770
Diversified Telecommunication Services – 0.6%
153,782
AT&T, Inc. (a)
5.35
%
11/01/66
3,453,944
2,592
AT&T, Inc., Series A
5.00
%
(c)
53,395
181,769
AT&T, Inc., Series C (a)
4.75
%
(c)
3,508,142
 
7,015,481
Electric Utilities – 4.4%
998,199
NextEra Energy Capital Holdings, Inc., Series U (a) (b)
6.50
%
06/01/85
25,553,894
8,671
Southern (The) Co.
5.25
%
12/01/77
192,583
171,476
Southern (The) Co., Series 2020 (a)
4.95
%
01/30/80
3,523,832
9,923
Southern (The) Co., Series C (b)
4.20
%
10/15/60
181,492
950,185
Xcel Energy, Inc. (a) (b)
6.25
%
10/15/85
23,659,606
 
53,111,407
First Trust Intermediate Duration Preferred & Income Fund (FPF)
Portfolio of Investments (Continued)
January 31, 2026 (Unaudited)
Shares
Description
Stated
Rate
Stated
Maturity
Value
$25 PAR PREFERRED SECURITIES (Continued)
Financial Services – 2.4%
291
Apollo Global Management, Inc. (e)
7.63
%
09/15/53
$7,671
800,616
Corebridge Financial, Inc. (a) (b)
6.38
%
12/15/64
19,142,728
414,129
Equitable Holdings, Inc., Series A (a)
5.25
%
(c)
8,671,861
28,562
Voya Financial, Inc., Series B (a) (e)
5.35
%
(c)
696,342
 
28,518,602
Food Products – 0.1%
10,333
CHS, Inc., Series 2
7.10
%
(c)
262,975
27,327
CHS, Inc., Series 3 (a)
6.75
%
(c)
685,361
 
948,336
Independent Power & Renewable Electricity Producers – 0.5%
245,850
Brookfield BRP Holdings Canada, Inc.
4.63
%
(c)
3,744,296
151,772
Brookfield Renewable Partners, L.P., Series 17
5.25
%
(c)
2,725,825
 
6,470,121
Insurance – 9.7%
665,060
AEGON Funding Co., LLC (a)
5.10
%
12/15/49
13,394,308
35,711
Allstate (The) Corp., Series H (a)
5.10
%
(c)
769,572
301,921
American National Group, Inc. (a)
7.38
%
(c)
7,566,140
130,097
Arch Capital Group Ltd., Series G
4.55
%
(c)
2,315,727
98,188
Aspen Insurance Holdings Ltd. (a)
5.63
%
(c)
1,950,014
346,650
Aspen Insurance Holdings Ltd. (a)
5.63
%
(c)
6,860,203
69,274
Assurant, Inc. (a)
5.25
%
01/15/61
1,427,044
494,574
Athene Holding Ltd. (a) (e)
7.25
%
03/30/64
12,502,831
87,400
Athene Holding Ltd., Series A (a) (e)
6.35
%
(c)
2,165,772
464,543
Athene Holding Ltd., Series E (a) (e)
7.75
%
(c)
12,013,082
6,577
Athene Holding Ltd., Series B
5.63
%
(c)
130,553
156,506
CNO Financial Group, Inc. (a)
5.13
%
11/25/60
3,015,871
740,669
Enstar Group Ltd., Series D (a) (e)
7.00
%
(c)
17,776,056
408,344
F&G Annuities & Life, Inc. (a)
7.95
%
12/15/53
10,474,024
811,957
F&G Annuities & Life, Inc. (a) (b)
7.30
%
01/15/65
18,366,467
1,306
MetLife, Inc., Series F
4.75
%
(c)
26,120
193,528
Phoenix (The) Cos., Inc.
7.45
%
01/15/32
3,701,223
2,799
Prudential Financial, Inc.
5.63
%
08/15/58
67,176
7,851
Reinsurance Group of America, Inc. (e)
7.13
%
10/15/52
199,808
7,485
Reinsurance Group of America, Inc. (e)
5.75
%
06/15/56
187,275
92,716
RenaissanceRe Holdings Ltd., Series G
4.20
%
(c)
1,498,291
40,205
W.R. Berkley Corp. (a)
5.10
%
12/30/59
837,068
 
117,244,625
Mortgage Real Estate Investment Trusts – 0.7%
7,920
AGNC Investment Corp., Series E, 3 Mo. CME Term SOFR + CSA
+ 4.99% (f)
8.92
%
(c)
201,802
124,414
AGNC Investment Corp., Series F, 3 Mo. CME Term SOFR +
4.70% (a) (f)
8.63
%
(c)
3,125,280
55,042
AGNC Investment Corp., Series H (a)
8.75
%
(c)
1,428,340
37,874
Annaly Capital Management, Inc., Series F, 3 Mo. CME Term
SOFR + CSA + 4.99% (a) (f)
8.92
%
(c)
979,800
76,904
Annaly Capital Management, Inc., Series J (a)
8.88
%
(c)
2,026,420
 
7,761,642
Multi-Utilities – 2.8%
62,193
Algonquin Power & Utilities Corp., Series 19-A, 3 Mo. CME Term
SOFR + CSA + 4.01% (a) (b) (f)
8.53
%
07/01/79
1,608,311
First Trust Intermediate Duration Preferred & Income Fund (FPF)
Portfolio of Investments (Continued)
January 31, 2026 (Unaudited)
Shares
Description
Stated
Rate
Stated
Maturity
Value
$25 PAR PREFERRED SECURITIES (Continued)
Multi-Utilities (Continued)
195,763
Brookfield Infrastructure Finance ULC
5.00
%
05/24/81
$3,290,776
81,694
Brookfield Infrastructure Partners, L.P., Series 13
5.13
%
(c)
1,396,967
167,428
CMS Energy Corp. (a) (b)
5.88
%
10/15/78
3,978,089
151,371
CMS Energy Corp. (a)
5.88
%
03/01/79
3,640,473
737,339
DTE Energy Co., Series H (a)
6.25
%
10/01/85
18,286,007
4,617
DTE Energy Co., Series E
5.25
%
12/01/77
103,236
77,678
Sempra (a)
5.75
%
07/01/79
1,747,755
 
34,051,614
Oil, Gas & Consumable Fuels – 0.2%
117,136
TransCanada PipeLines Ltd. (a)
6.25
%
11/01/85
2,904,973
Real Estate Management & Development – 0.7%
291,371
Brookfield Property Partners, L.P., Series A
5.75
%
(c)
4,044,229
309,689
Brookfield Property Partners, L.P., Series A2
6.38
%
(c)
4,648,432
 
8,692,661
Specialized REITs – 0.2%
17,466
National Storage Affiliates Trust, Series A (a)
6.00
%
(c)
366,961
70,483
Public Storage, Series L (a)
4.63
%
(c)
1,345,520
 
1,712,481
Wireless Telecommunication Services – 2.9%
903,834
T-Mobile USA, Inc. (a) (b)
5.50
%
03/01/70
20,688,760
640,322
T-Mobile USA, Inc. (a) (b)
5.50
%
06/01/70
14,682,584
 
35,371,344
Total $25 Par Preferred Securities
385,652,933
(Cost $405,359,731)
$1,000 PAR PREFERRED SECURITIES – 2.7%
Banks – 2.7%
26,803
Wells Fargo & Co., Series L
7.50
%
(c)
33,073,830
(Cost $35,414,233)
$1,000,000 PAR PREFERRED SECURITIES – 1.0%
Mortgage REITs – 1.0%
12
FT Real Estate Securities Co., Inc. (g) (h) (i)
9.50
%
(c)
12,492,000
(Cost $15,990,000)
Par
Amount
Description
Stated
Rate
Stated
Maturity
Value
CAPITAL PREFERRED SECURITIES – 117.6%
Banks – 71.5%
$9,400,000
Banco Bilbao Vizcaya Argentaria S.A. (e) (j)
7.75
%
(c)
10,115,885
7,900,000
Banco Bilbao Vizcaya Argentaria S.A. (a) (e) (j)
9.38
%
(c)
8,862,030
3,300,000
Banco de Credito e Inversiones S.A. (e) (j) (k)
8.75
%
(c)
3,564,627
2,000,000
Banco de Credito e Inversiones S.A. (e) (j) (l)
8.75
%
(c)
2,160,380
5,700,000
Banco Mercantil del Norte S.A. (e) (j) (k)
7.50
%
(c)
5,895,573
8,000,000
Banco Mercantil del Norte S.A. (e) (j) (k)
7.63
%
(c)
8,237,640
7,400,000
Banco Mercantil del Norte S.A. (e) (j) (k)
8.38
%
(c)
7,987,597
5,400,000
Banco Mercantil del Norte S.A. (e) (j) (k)
8.75
%
(c)
5,852,963
26,800,000
Banco Santander S.A. (a) (e) (j)
9.63
%
(c)
29,763,785
15,600,000
Banco Santander S.A. (a) (e) (j)
9.63
%
(c)
18,835,019
57,113,000
Bank of America Corp. (a) (e)
6.63
%
(c)
59,377,302
21,040,000
Bank of Montreal (a) (e)
7.70
%
05/26/84
22,386,076
First Trust Intermediate Duration Preferred & Income Fund (FPF)
Portfolio of Investments (Continued)
January 31, 2026 (Unaudited)
Par
Amount
Description
Stated
Rate
Stated
Maturity
Value
CAPITAL PREFERRED SECURITIES (Continued)
Banks (Continued)
$16,100,000
Bank of Montreal (a) (e)
7.30
%
11/26/84
$17,185,736
1,257,000
Bank of Montreal, Series 6 (a) (e)
6.88
%
11/26/85
1,295,253
16,920,000
Bank of Nova Scotia (The) (e)
8.63
%
10/27/82
17,925,979
19,466,000
Bank of Nova Scotia (The) (e)
8.00
%
01/27/84
20,857,410
9,600,000
Bank of Nova Scotia (The) (e)
7.35
%
04/27/85
10,063,258
6,420,000
Bank of Nova Scotia (The) (e)
6.88
%
10/27/85
6,595,478
1,300,000
Barclays PLC (e) (j)
4.38
%
(c)
1,265,354
5,300,000
Barclays PLC (e) (j)
7.63
%
(c)
5,714,486
34,000,000
Barclays PLC (a) (e) (j)
8.00
%
(c)
36,366,196
8,700,000
Barclays PLC (a) (e) (j)
9.63
%
(c)
9,898,930
8,550,000
BBVA Mexico S.A. (b) (e) (j) (k)
5.88
%
09/13/34
8,565,022
3,850,000
BBVA Mexico S.A. (e) (j) (k)
7.63
%
02/11/35
4,072,308
9,900,000
BBVA Mexico S.A. (e) (j) (k)
8.45
%
06/29/38
11,011,889
7,800,000
BNP Paribas S.A. (e) (j) (k)
4.63
%
(c)
7,281,231
3,000,000
BNP Paribas S.A. (e) (j) (k)
7.38
%
(c)
3,170,409
21,210,000
BNP Paribas S.A. (a) (e) (j) (k)
7.75
%
(c)
22,539,718
8,860,000
BNP Paribas S.A. (a) (e) (j) (k)
8.00
%
(c)
9,680,445
23,200,000
BNP Paribas S.A. (a) (e) (j) (k)
8.50
%
(c)
24,856,225
4,000,000
BNP Paribas S.A. (a) (e) (j) (k)
9.25
%
(c)
4,274,560
5,100,000
Canadian Imperial Bank of Commerce (a) (e)
6.95
%
01/28/85
5,265,832
13,200,000
Canadian Imperial Bank of Commerce (a) (e)
7.00
%
10/28/85
13,723,103
9,440,000
Citigroup, Inc. (a) (e)
6.63
%
(c)
9,615,811
3,813,000
Citigroup, Inc., Series BB (a) (e)
7.20
%
(c)
3,967,873
6,913,000
Citigroup, Inc., Series DD (a) (e)
7.00
%
(c)
7,241,806
7,700,000
Citigroup, Inc., Series FF (a) (e)
6.95
%
(c)
7,936,298
20,124,000
Citigroup, Inc., Series GG (a) (e)
6.88
%
(c)
20,571,683
11,200,000
Citigroup, Inc., Series Z (a) (e)
7.38
%
(c)
11,603,622
4,000,000
CoBank ACB (a) (e)
7.25
%
(c)
4,108,308
6,895,000
CoBank ACB, Series K (a) (e)
6.45
%
(c)
6,954,938
11,400,000
Commerzbank AG (a) (e) (j) (l)
7.50
%
(c)
12,058,817
14,849,000
Credit Agricole S.A. (e) (j) (k)
6.70
%
(c)
15,193,853
23,351,000
Credit Agricole S.A. (e) (j) (k)
7.13
%
(c)
24,429,349
2,000,000
Farm Credit Bank of Texas (a) (e)
7.75
%
(c)
2,097,044
3,450,000
Farm Credit Bank of Texas, Series 3 (a) (e) (k)
6.20
%
(c)
3,455,710
2,240,000
Farm Credit Bank of Texas, Series 6 (a) (e)
7.00
%
(c)
2,331,974
9,200,000
First Citizens BancShares, Inc., Series D (a) (e)
7.00
%
(c)
9,413,265
3,240,000
HSBC Holdings PLC (a) (e) (j)
6.88
%
(c)
3,349,126
15,000,000
HSBC Holdings PLC (a) (e) (j)
6.95
%
(c)
15,801,669
9,500,000
HSBC Holdings PLC (e) (j)
7.05
%
(c)
9,908,443
25,100,000
HSBC Holdings PLC (a) (e) (j)
8.00
%
(c)
26,427,941
14,792,000
Huntington Bancshares, Inc., Series K (a) (e)
6.25
%
(c)
14,799,408
15,725,000
ING Groep N.V. (a) (e) (j)
7.00
%
(c)
16,458,964
6,360,000
ING Groep N.V. (e) (j) (l)
7.25
%
(c)
6,801,918
200,000
ING Groep N.V. (a) (e) (j) (l)
7.50
%
(c)
208,956
7,085,000
ING Groep N.V. (a) (e) (j) (l)
8.00
%
(c)
7,701,970
22,250,000
JPMorgan Chase & Co., Series NN (a) (e)
6.88
%
(c)
23,514,979
2,800,000
Lloyds Banking Group PLC (e) (j)
6.63
%
(c)
2,779,167
18,652,000
Lloyds Banking Group PLC (a) (e) (j)
8.00
%
(c)
20,259,504
12,050,000
Mitsubishi UFJ Financial Group, Inc. (e) (j)
6.35
%
(c)
12,345,177
7,370,000
NatWest Group PLC (e) (j)
8.13
%
(c)
8,333,591
3,720,000
Nordea Bank Abp (e) (j) (k)
6.75
%
(c)
3,823,799
4,534,000
PNC Financial Services Group (The), Inc., Series U (a) (e)
6.00
%
(c)
4,565,842
14,390,000
PNC Financial Services Group (The), Inc., Series W (a) (e)
6.25
%
(c)
14,874,454
16,150,000
Royal Bank of Canada (a) (e)
6.75
%
08/24/85
16,708,677
10,410,000
Royal Bank of Canada (a) (e)
6.50
%
11/24/85
10,364,100
First Trust Intermediate Duration Preferred & Income Fund (FPF)
Portfolio of Investments (Continued)
January 31, 2026 (Unaudited)
Par
Amount
Description
Stated
Rate
Stated
Maturity
Value
CAPITAL PREFERRED SECURITIES (Continued)
Banks (Continued)
$20,300,000
Societe Generale S.A. (a) (e) (j) (k)
9.38
%
(c)
$21,692,965
8,000,000
Societe Generale S.A. (a) (e) (j) (k)
10.00
%
(c)
8,907,776
65,000
Standard Chartered PLC (e) (l)
7.01
%
(c)
68,846
5,660,000
Sumitomo Mitsui Financial Group, Inc. (a) (e) (j)
6.60
%
(c)
5,849,242
3,600,000
Swedbank AB (e) (j) (l)
7.75
%
(c)
3,898,800
18,460,000
Toronto-Dominion Bank (The) (a) (e)
8.13
%
10/31/82
19,350,215
7,900,000
Toronto-Dominion Bank (The) (a) (e)
6.35
%
10/31/85
8,033,652
12,450,000
Wells Fargo & Co. (a) (e)
6.85
%
(c)
13,028,234
 
865,485,465
Capital Markets – 8.2%
4,300,000
Ares Finance Co. III LLC (a) (b) (e) (k)
4.13
%
06/30/51
4,253,854
2,700,000
Bank of New York Mellon (The) Corp. (a) (e)
5.95
%
(c)
2,744,769
28,250,000
Credit Suisse Group AG, Claim (h) (i) (m) (n)
9,712,350
6,400,000
Credit Suisse Group AG, Claim (h) (i) (m) (n)
2,200,320
15,730,000
Credit Suisse Group AG, Claim (h) (i) (m) (n)
5,407,974
19,220,000
Credit Suisse Group AG, Claim (h) (i) (m) (n)
6,607,836
6,600,000
Deutsche Bank AG (e) (j) (l)
8.13
%
(c)
7,120,659
4,002,000
Goldman Sachs Group (The), Inc., Series W (a) (e)
7.50
%
(c)
4,236,368
22,724,000
Goldman Sachs Group (The), Inc., Series X (a) (e)
7.50
%
(c)
24,001,339
5,400,000
Goldman Sachs Group (The), Inc., Series Y (a) (e)
6.13
%
(c)
5,504,530
9,300,000
Nomura Holdings, Inc. (a) (e) (j)
7.00
%
(c)
9,668,642
8,064,000
State Street Corp., Series I (a) (e)
6.70
%
(c)
8,369,166
9,011,000
State Street Corp., Series J (a) (e)
6.70
%
(c)
9,445,781
 
99,273,588
Diversified Telecommunication Services – 2.6%
19,502,000
Bell Canada (a) (b) (e)
7.00
%
09/15/55
20,461,108
3,734,000
TELUS Corp. (b) (e)
6.63
%
10/15/55
3,820,648
6,940,000
TELUS Corp. (a) (b) (e)
7.00
%
10/15/55
7,261,577
 
31,543,333
Electric Utilities – 7.1%
11,170,000
American Electric Power Co., Inc. (a) (b) (e)
6.95
%
12/15/54
11,974,206
14,283,000
American Electric Power Co., Inc., Series D (a) (b) (e)
6.05
%
03/15/56
14,188,370
7,600,000
Duke Energy Corp. (a) (b) (e)
6.45
%
09/01/54
7,955,061
7,350,000
Entergy Corp. (a) (e)
6.10
%
06/15/56
7,347,601
7,140,000
EUSHI Finance, Inc. (a) (b) (e)
7.63
%
12/15/54
7,514,150
11,000,000
EUSHI Finance, Inc. (a) (e)
6.25
%
04/01/56
11,072,655
9,965,000
NextEra Energy Capital Holdings, Inc. (a) (e)
6.75
%
06/15/54
10,593,064
4,860,000
NextEra Energy Capital Holdings, Inc. (a) (b) (e)
6.50
%
08/15/55
5,111,933
9,400,000
Southern (The) Co., Series 2025 (a) (b) (e)
6.38
%
03/15/55
9,807,995
 
85,565,035
Financial Services – 3.2%
15,000,000
American AgCredit Corp. (a) (e) (k)
5.25
%
(c)
14,830,950
9,350,000
Capital Farm Credit ACA, Series 1 (a) (e) (k)
5.00
%
(c)
9,353,273
3,800,000
Compeer Financial ACA (a) (e) (k)
4.88
%
(c)
3,744,463
4,590,000
Compeer Financial ACA (a) (e) (k)
7.88
%
(c)
4,739,014
5,530,000
Corebridge Financial, Inc. (a) (e)
6.88
%
(c)
5,749,447
 
38,417,147
Food Products – 4.6%
6,000,000
Dairy Farmers of America, Inc. (a) (g)
7.13
%
(c)
6,050,970
7,329,000
Land O’Lakes Capital Trust I (a) (b) (g)
7.45
%
03/15/28
7,572,977
First Trust Intermediate Duration Preferred & Income Fund (FPF)
Portfolio of Investments (Continued)
January 31, 2026 (Unaudited)
Par
Amount
Description
Stated
Rate
Stated
Maturity
Value
CAPITAL PREFERRED SECURITIES (Continued)
Food Products (Continued)
$10,000,000
Land O’Lakes, Inc. (a) (k)
7.25
%
(c)
$9,249,723
33,000,000
Land O’Lakes, Inc. (a) (k)
8.00
%
(c)
33,122,209
 
55,995,879
Gas Utilities – 1.0%
6,820,000
AltaGas Ltd. (a) (b) (e) (k)
7.20
%
10/15/54
7,096,626
5,505,000
Spire, Inc. (b) (e)
6.45
%
06/01/56
5,560,539
 
12,657,165
Independent Power & Renewable Electricity Producers – 0.9%
11,233,000
AES (The) Corp. (a) (b) (e)
6.95
%
07/15/55
10,989,827
Insurance – 11.3%
7,400,000
Allianz SE (a) (e) (j) (k)
6.55
%
(c)
7,706,945
5,570,000
American National Group, Inc. (a) (e)
7.00
%
12/01/55
5,629,293
16,785,000
Assurant, Inc. (a) (b) (e)
7.00
%
03/27/48
17,291,262
5,150,000
Assured Guaranty Municipal Holdings, Inc. (b) (e) (k)
6.40
%
12/15/66
4,842,906
7,200,000
CNP Assurances S.A. (e) (j) (l)
4.88
%
(c)
6,855,140
15,300,000
Fortegra Financial Corp. (a) (b) (e) (g)
8.50
%
10/15/57
15,236,658
7,563,000
Global Atlantic Fin Co. (a) (b) (e) (k)
7.95
%
10/15/54
7,823,311
8,781,000
Global Atlantic Fin Co. (a) (b) (e) (k)
7.25
%
03/01/56
8,855,770
29,237,000
Hartford Insurance Group (The), Inc., 3 Mo. CME Term SOFR +
CSA + 2.13% (a) (b) (f) (k)
6.24
%
02/12/47
27,897,332
8,183,000
Kuvare US Holdings, Inc. (a) (e) (k)
7.00
%
02/17/51
8,172,541
2,465,000
Liberty Mutual Group, Inc. (k)
4.30
%
02/01/61
1,654,066
10,900,000
Meiji Yasuda Life Insurance Co. (a) (b) (e) (k)
6.10
%
06/11/55
11,224,602
2,559,000
MetLife, Inc., Series G (a) (e)
6.35
%
03/15/55
2,688,836
2,442,000
Nationwide Financial Services Capital Trust (b) (n)
7.90
%
03/01/37
2,745,003
2,910,000
Nationwide Financial Services, Inc. (a) (b)
6.75
%
05/15/37
2,932,437
4,796,000
Nippon Life Insurance Co. (a) (b) (e) (k)
6.50
%
04/30/55
5,134,502
 
136,690,604
Multi-Utilities – 4.1%
450,000
CenterPoint Energy, Inc., Series B (b) (e)
6.85
%
02/15/55
477,593
16,470,000
Dominion Energy, Inc. (a) (e)
6.63
%
05/15/55
16,941,619
8,693,000
Dominion Energy, Inc. (a) (e)
6.20
%
02/15/56
8,726,891
1,688,000
Dominion Energy, Inc., Series A (a) (e)
6.88
%
02/01/55
1,758,595
4,165,000
Dominion Energy, Inc., Series B (b) (e)
7.00
%
06/01/54
4,505,830
7,000,000
NiSource, Inc. (a) (b) (e)
6.38
%
03/31/55
7,236,747
10,215,000
Sempra (a) (b) (e)
6.40
%
10/01/54
10,338,969
 
49,986,244
Oil, Gas & Consumable Fuels – 1.6%
2,500,000
Enbridge, Inc. (a) (b) (e)
7.63
%
01/15/83
2,728,285
11,415,000
Enbridge, Inc. (a) (b) (e)
8.50
%
01/15/84
13,065,860
3,916,000
Energy Transfer, L.P., Series G (a) (e)
7.13
%
(c)
4,056,224
 
19,850,369
Trading Companies & Distributors – 0.7%
8,300,000
Air Lease Corp., Series D (a) (e)
6.00
%
(c)
8,020,938
First Trust Intermediate Duration Preferred & Income Fund (FPF)
Portfolio of Investments (Continued)
January 31, 2026 (Unaudited)
Par
Amount
Description
Stated
Rate
Stated
Maturity
Value
CAPITAL PREFERRED SECURITIES (Continued)
Wireless Telecommunication Services – 0.8%
$8,687,000
Rogers Communications, Inc. (a) (e)
7.13
%
04/15/55
$9,113,352
Total Capital Preferred Securities
1,423,588,946
(Cost $1,406,551,009)
 
Total Investments – 153.2%
1,854,807,709
(Cost $1,863,314,973)
Shares
Description
Value
REVERSE REPURCHASE AGREEMENT – (8.3)%
(100,000,000
)
Scotia Bank, due 4/18/26, 1 month CME Term SOFR + CSA + 65bps
(100,000,000
)
Outstanding Loan – (46.4)%
(561,175,000
)
Net Other Assets and Liabilities – 1.5%
16,948,662
Net Assets – 100.0%
$1,210,581,371
 
(a)
All or a portion of this security serves as collateral on the outstanding loan. At January 31, 2026, the segregated value of these
securities amounts to $892,349,799.
(b)
This security or a portion of this security is segregated as collateral for reverse repurchase agreements. All of these securities are
corporate bonds. The remaining contractual maturity of the agreement is between 30-90 days. At January 31, 2026, securities
noted as such are valued at $157,962,429.
(c)
Perpetual maturity.
(d)
When-issued security. The interest rate shown reflects the rate in effect at January 31, 2026. Interest will begin accruing on the
security’s first settlement date.
(e)
Fixed-to-variable rate security. The interest rate shown reflects the fixed rate in effect at January 31, 2026. At a predetermined
date, the fixed rate will change to a variable rate.
(f)
Floating or variable rate security.
(g)
This security, sold within the terms of a private placement memorandum, is exempt from registration upon resale under
Rule 144A of the Securities Act of 1933, as amended (the “1933 Act”), and may be resold in transactions exempt from
registration, normally to qualified institutional buyers. (see Restricted Securities table).
(h)
This security is fair valued by the Advisor’s Pricing Committee in accordance with procedures approved by the Fund’s Board of
Trustees, and in accordance with the provisions of the Investment Company Act of 1940 and rules thereunder, as amended. At
January 31, 2026, securities noted as such are valued at $36,420,480 or 3.0% of net assets.
(i)
This security’s value was determined using significant unobservable inputs. (see Valuation Inputs section).
(j)
This security is a contingent convertible capital security which may be subject to conversion into common stock of the issuer
under certain circumstances. At January 31, 2026, securities noted as such amounted to $507,554,687 or 27.10% of managed
assets. Of these securities, 11.3% originated in emerging markets, and 88.7% originated in foreign markets.
(k)
This security, sold within the terms of a private placement memorandum, is exempt from registration upon resale under
Rule 144A of the 1933 Act, and may be resold in transactions exempt from registration, normally to qualified institutional buyers.
Pursuant to procedures adopted by the Fund’s Board of Trustees, this security has been determined to be liquid by Stonebridge
Advisors LLC (the “Sub-Advisor”). Although market instability can result in periods of increased overall market illiquidity,
liquidity for each security is determined based on security specific factors and assumptions, which require subjective judgment.
At January 31, 2026, securities noted as such amounted to $374,195,746 or 30.9% of net assets.
(l)
This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the 1933 Act.
(m)
Claim pending with the administrative court of Switzerland.
(n)
Pursuant to procedures adopted by the Fund’s Board of Trustees, this security has been determined to be illiquid by the
Sub-Advisor.
 
Abbreviations throughout the Portfolio of Investments:
CME
– Chicago Mercantile Exchange
CSA
– Credit Spread Adjustment
REITs
– Real Estate Investment Trusts
SOFR
– Secured Overnight Financing Rate
First Trust Intermediate Duration Preferred & Income Fund (FPF)
Portfolio of Investments (Continued)
January 31, 2026 (Unaudited)
Country Allocation†
% of Total
Investments
United States
54.9%
Canada
13.2
France
8.0
United Kingdom
7.6
Spain
3.6
Mexico
2.8
Japan
2.4
Bermuda
2.3
Netherlands
1.7
Germany
1.5
Switzerland
1.3
Chile
0.3
Sweden
0.2
Finland
0.2
Total
100.0%
† Portfolio securities are categorized based
upon their country of incorporation.
First Trust Intermediate Duration Preferred & Income Fund (FPF)
Portfolio of Investments (Continued)
January 31, 2026 (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 January 31, 2026 is as follows: 
ASSETS TABLE
 
Total
Value at
1/31/2026
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
$25 Par Preferred Securities:
Banks
$18,317,257
$16,059,157
$2,258,100
$—
Insurance
117,244,625
95,767,346
21,477,279
—
Other Industry Categories*
250,091,051
250,091,051
—
—
$1,000 Par Preferred Securities*
33,073,830
33,073,830
—
—
$1,000,000 Par Preferred Securities*
12,492,000
—
—
12,492,000
Capital Preferred Securities:
Capital Markets
99,273,588
—
75,345,108
23,928,480
Other Industry Categories*
1,324,315,358
—
1,324,315,358
—
Total Investments
$1,854,807,709
$394,991,384
$1,423,395,845
$36,420,480
 
LIABILITIES TABLE
 
Total
Value at
1/31/2026
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Reverse Repurchase Agreement
$(100,000,000
)
$—
$(100,000,000
)
$—
 
*
See Portfolio of Investments for industry breakout.
Level 3 Investments are fair valued by the Advisor’s Pricing Committee and are footnoted in the Portfolio of Investments. All Level 3 values are based on unobservable inputs. As of January 31, 2026, Level 3 investments were valued using unadjusted pricing quotes obtained from dealers.
First Trust Intermediate Duration Preferred & Income Fund (FPF)
Portfolio of Investments (Continued)
January 31, 2026 (Unaudited)
The following table presents the activity of the Fund’s investments measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the period presented. 
Beginning Balance at October 31, 2025
$1,000,000 Par Preferred Securities
$12,360,000
Capital Preferred Securities
23,872,800
Net Realized Gain (Loss)
—
Change in Unrealized Appreciation/Depreciation:
$1,000,000 Par Preferred Securities
132,000
Capital Preferred Securities
55,680
Purchases
—
Sales
—
Transfers In
—
Transfers Out
—
Ending Balance at January 31, 2026
$1,000,000 Par Preferred Securities
12,492,000
Capital Preferred Securities
23,928,480
Total Level 3 holdings
$36,420,480
There was a net change of $187,680 in unrealized appreciation (depreciation) from Level 3 investments held as of January 31, 2026.         
First Trust Intermediate Duration Preferred & Income Fund (FPF)
Portfolio of Investments (Continued)
January 31, 2026 (Unaudited)
Restricted Securities 
As of January 31, 2026, the Fund held restricted securities as shown in the following table that the Sub-Advisor deemed illiquid, pursuant to procedures adopted by the Fund’s Board of Trustees: 
Security
Acquisition
Date
Par Amount/
Shares
Current Price
Carrying
Cost
Value
% of
Net
Assets
Dairy Farmers of America, Inc., 7.13%
9/15/16
$6,000,000
$100.85
$6,000,000
$6,050,970
0.50
%
Fortegra Financial Corp., 8.50%, 
10/15/57
10/12/17 - 3/12/18
$15,300,000
99.59
15,343,953
15,236,658
1.26
FT Real Estate Securities Co., Inc.,
9.50%
6/15/16
12
1,041,000
15,990,000
12,492,000
1.03
Land O’Lakes Capital Trust I,
7.45%, 03/15/28
3/20/15 - 2/25/19
$7,329,000
103.33
7,481,008
7,572,977
0.63
 
$44,814,961
$41,352,605
3.42
%