NPORT-EX 2 FT30FTSrFloatRtIncFdII.htm

First Trust Senior Floating Rate Income Fund II (FCT)

Portfolio of Investments

August 31, 2020 (Unaudited)

Principal Value		Description		Rate (a)		Stated Maturity (b)		Value
SENIOR FLOATING-RATE LOAN INTERESTS (c) – 141.1%
		Application Software – 17.1%
$1,929,494		CCC Information Services Inc. (Cypress), Term Loan B, 1 Mo. LIBOR + 3.00%, 1.00% Floor		4.00%		04/26/24		$1,916,470
3,202,384		Epicor Software Corp., Term Loan B, 1 Mo. LIBOR + 4.25%, 1.00% Floor		5.25%		07/30/27		3,202,000
308,927		Hyland Software, Inc., 2ND Lien TL, 1 Mo. LIBOR + 7.00%, 0.75% Floor		7.75%		07/10/25		308,541
8,284,468		Hyland Software, Inc., Term Loan B, 1 Mo. LIBOR + 3.25%, 0.75% Floor		4.00%		07/01/24		8,169,066
2,035,711		Internet Brands, Inc. (WebMD/MH Sub I, LLC), 2020 June New Term Loan, 1 Mo. LIBOR + 3.75%, 1.00% Floor		4.75%		09/15/24		2,011,547
6,205,691		Internet Brands, Inc. (WebMD/MH Sub I, LLC), Initial Term Loan, 3 Mo. LIBOR + 3.50%, 0.00% Floor		4.57%		09/13/24		6,038,510
2,900,630		LogMeIn, Inc. (Logan), Term Loan B, Prime Rate + 3.75%, 0.00% Floor		7.00%		08/31/27		2,826,896
9,300,734		McAfee, LLC, Term Loan B, 1 Mo. LIBOR + 3.75%, 0.00% Floor		3.91%		09/30/24		9,204,285
1,232,492		Micro Focus International (MA Financeco, LLC), Miami Escrow TL B3, 1 Mo. LIBOR + 2.50%, 0.00% Floor		2.66%		06/21/24		1,173,949
8,323,164		Micro Focus International (MA Financeco, LLC), Seattle Spinco TLB, 1 Mo. LIBOR + 2.50%, 0.00% Floor		2.66%		06/21/24		7,927,814
1,462,868		Micro Focus International (MA Financeco, LLC), Term Loan B4, 3 Mo. LIBOR + 4.25%, 1.00% Floor		5.25%		06/15/25		1,457,382
570,993		Milano Acquisition Corp., Term Loan B, 1 Mo. LIBOR + 4.00%, 0.75% Floor		4.17%		08/31/27		565,996
746,743		Qlik Technologies (Project Alpha Intermediate Holding, Inc.), 2019 Incremental Term Loan B, 3 Mo. LIBOR + 4.25%, 0.00% Floor		4.52%		04/26/24		739,275
2,213,771		Qlik Technologies (Project Alpha Intermediate Holding, Inc.), Term Loan B, 3 Mo. LIBOR + 3.50%, 1.00% Floor		4.50%		04/26/24		2,197,167
4,564,272		SolarWinds Holdings, Inc., Initial Term Loan, 1 Mo. LIBOR + 2.75%, 0.00% Floor		2.91%		02/05/24		4,500,098
1,194,925		Solera Holdings, Inc., Term Loan B, 2 Mo. LIBOR + 2.75%, 0.00% Floor		2.91%		03/03/23		1,173,058
220,077		TIBCO Software, Inc., Term Loan B-3, 1 Mo. LIBOR + 3.75%, 0.00% Floor		3.91%		06/30/26		212,265
236,671		Ultimate Software Group, Inc., June 2020 Term Loan B, 3 Mo. LIBOR + 4.00%, 0.75% Floor		4.75%		05/03/26		236,229
3,030,203		Veeam Software Holdings Limited (VS Buyer, LLC), Term Loan B, 1 Mo. LIBOR + 3.25%, 0.00% Floor		3.41%		02/28/27		2,980,962
								56,841,510
		Auto Parts & Equipment – 2.3%
6,462,255		Gates Global, LLC, Initial B-2 Dollar Term Loans, 1 Mo. LIBOR + 2.75%, 1.00% Floor		3.75%		03/31/24		6,378,440
2,889,114		Lumileds (Bright Bidco B.V.), Term Loan B, 6 Mo. LIBOR + 3.50%, 1.00% Floor		4.57%		06/30/24		1,279,877
								7,658,317
		Broadcasting – 7.3%
2,557,686		E.W. Scripps Company, Term Loan B-2, 1 Mo. LIBOR + 2.50%, 0.00% Floor		2.66%		05/01/26		2,487,349
269,745		Entercom Media Corp. (CBS Radio), Term Loan B, 1 Mo. LIBOR + 2.50%, 0.00% Floor		2.66%		11/17/24		254,099
1,472,220		Gray Television, Inc., Term C Loan, 1 Mo. LIBOR + 2.50%, 0.00% Floor		2.66%		01/02/26		1,440,524
11,781,524		iHeartCommunications, Inc., Term Loan B, 1 Mo. LIBOR + 3.00%, 0.00% Floor		3.16%		04/29/26		11,158,753

First Trust Senior Floating Rate Income Fund II (FCT)

Portfolio of Investments (Continued)

August 31, 2020 (Unaudited)

Principal Value		Description		Rate (a)		Stated Maturity (b)		Value
SENIOR FLOATING-RATE LOAN INTERESTS (c) (Continued)
		Broadcasting (Continued)
$6,682,609		Nexstar Broadcasting, Inc., Incremental Term Loan B-4, 1 Mo. LIBOR + 2.75%, 0.00% Floor		2.91%		09/19/26		$6,549,893
469,541		Nexstar Broadcasting, Inc., Mission Term Loan B-3, 1 Mo. LIBOR + 2.25%, 0.00% Floor		2.41%		01/17/24		458,192
1,829,815		Nexstar Broadcasting, Inc., Nexstar Term Loan B-3, 1 Mo. LIBOR + 2.25%, 0.00% Floor		2.41%		01/17/24		1,785,588
								24,134,398
		Building Products – 1.3%
4,362,358		Quikrete Holdings, Inc., Term Loan B, 1 Mo. LIBOR + 2.50%, 0.00% Floor		2.66%		01/31/27		4,245,490
		Cable & Satellite – 3.9%
2,593,871		Cablevision (aka CSC Holdings, LLC), March 2017 Term Loan B-1, 1 Mo. LIBOR + 2.25%, 0.00% Floor		2.41%		07/17/25		2,499,843
2,984,848		Cablevision (aka CSC Holdings, LLC), October 2018 Incremental Term Loan B-3, 1 Mo. LIBOR + 2.25%, 0.00% Floor		2.41%		01/15/26		2,876,648
3,148,955		Cablevision (aka CSC Holdings, LLC), Sept. 2019 Term Loan B-5, 1 Mo. LIBOR + 2.50%, 0.00% Floor		2.66%		04/15/27		3,043,244
4,625,322		Virgin Media Investment Holdings Limited, Term Loan N, 1 Mo. LIBOR + 2.50%, 0.00% Floor		2.66%		01/31/28		4,496,831
								12,916,566
		Casinos & Gaming – 9.5%
1,000,000		Boyd Gaming Corporation, Term Loan B, 1 Mo. LIBOR + 2.25%, 0.00% Floor		2.36%		09/15/23		970,230
513,501		Caesars Resort Collection, LLC, Term B-1 Loans, 1 Mo. LIBOR + 4.50%, 0.00% Floor		4.70%		06/30/25		497,135
256,750		Caesars Resort Collection, LLC, Term B-1 Loans, 3 Mo. LIBOR + 4.50%, 0.00% Floor		4.77%		06/30/25		248,568
7,854,225		Caesars Resort Collection, LLC, Term Loan B, 1 Mo. LIBOR + 2.75%, 0.00% Floor		2.91%		12/22/24		7,368,285
7,440,186		CityCenter Holdings, LLC, Term Loan B, 1 Mo. LIBOR + 2.25%, 0.75% Floor		3.00%		04/18/24		7,042,954
1,970,665		Golden Nugget, Inc., Term Loan B, 1 Mo. LIBOR + 2.50%, 0.75% Floor		3.25%		10/04/23		1,758,089
1,671,928		Golden Nugget, Inc., Term Loan B, 2 Mo. LIBOR + 2.50%, 0.75% Floor		3.25%		10/04/23		1,491,577
588,715		Scientific Games International, Inc., Term Loan B5, 1 Mo. LIBOR + 2.75%, 0.00% Floor		2.91%		08/14/24		549,295
7,680		Scientific Games International, Inc., Term Loan B5, 3 Mo. LIBOR + 2.75%, 0.00% Floor		3.06%		08/14/24		7,166
2,406,520		Scientific Games International, Inc., Term Loan B5, 6 Mo. LIBOR + 2.75%, 0.00% Floor		3.61%		08/14/24		2,245,380
5,741,449		Stars Group Holdings B.V. (Amaya), Term Loan B, 3 Mo. LIBOR + 3.50%, 0.00% Floor		3.81%		07/10/25		5,745,181
3,339,369		Station Casinos, Inc. (Red Rocks), Term Loan B, 1 Mo. LIBOR + 2.25%, 0.25% Floor		2.50%		01/31/27		3,158,475
733,986		Twin River Worldwide Holdings, Inc., Term Loan B, 1 Mo. LIBOR + 2.75%, 0.00% Floor		2.91%		05/10/26		695,914
								31,778,249
		Coal & Consumable Fuels – 0.3%
1,012,898		Arch Coal, Inc., Term Loan B, 1 Mo. LIBOR + 2.75%, 1.00% Floor		3.75%		03/07/24		880,795

First Trust Senior Floating Rate Income Fund II (FCT)

Portfolio of Investments (Continued)

August 31, 2020 (Unaudited)

Principal Value		Description		Rate (a)		Stated Maturity (b)		Value
SENIOR FLOATING-RATE LOAN INTERESTS (c) (Continued)
		Coal & Consumable Fuels (Continued)
$302,885		Peabody Energy, Corp., Term Loan B, 1 Mo. LIBOR + 2.75%, 0.00% Floor		2.91%		03/31/25		$105,577
								986,372
		Communications Equipment – 0.5%
1,629,039		Commscope, Inc., Term Loan B, 1 Mo. LIBOR + 3.25%, 0.00% Floor		3.41%		04/06/26		1,591,799
		Data Processing & Outsourced Services – 0.1%
483,605		Cardtronics USA, Inc., Term Loan B, 1 Mo. LIBOR + 4.00%, 1.00% Floor		5.00%		06/30/27		482,097
		Electric Utilities – 1.4%
4,900,413		PG&E Corp., Exit Term Loan, 3 Mo. LIBOR + 4.50%, 1.00% Floor		5.50%		06/30/25		4,817,743
		Environmental & Facilities Services – 0.9%
2,936,941		Packers Holdings, LLC, Term Loan B, 1 Mo. LIBOR + 3.00%, 1.00% Floor		4.00%		12/04/24		2,872,093
		Food Distributors – 0.2%
725,012		US Foods, Inc., Incremental B-2019 Term Loan, 6 Mo. LIBOR + 2.00%, 0.00% Floor		3.07%		08/31/26		692,517
		Health Care Facilities – 1.2%
1,148,528		Acadia Healthcare Company, Inc., Term Loan B4, 1 Mo. LIBOR + 2.50%, 0.00% Floor		2.66%		02/16/23		1,135,366
1,554,223		Gentiva Health Services, Inc. (Kindred at Home), Term Loan B, 1 Mo. LIBOR + 3.25%, 0.00% Floor		3.44%		07/02/25		1,538,681
1,415,180		Select Medical Corporation, Term Loan B, 1 Mo. LIBOR + 2.50%, 0.00% Floor		2.68%		03/06/25		1,373,899
								4,047,946
		Health Care Services – 13.3%
466,734		Air Medical Group Holdings, Inc. (Global Medical Response), 2018 New Term Loan, 3 Mo. LIBOR + 4.25%, 1.00% Floor		5.25%		03/14/25		459,383
5,013,417		Air Medical Group Holdings, Inc. (Global Medical Response), Term Loan B, 6 Mo. LIBOR + 3.25%, 1.00% Floor		4.25%		04/28/22		4,961,478
2,800,285		Air Methods Corp. (a/k/a ASP AMC Intermediate Holdings, Inc.), Term Loan B, 3 Mo. LIBOR + 3.50%, 1.00% Floor		4.50%		04/21/24		2,453,358
6,024,465		athenahealth, Inc. (VVC Holding Corp.), Term Loan B, 3 Mo. LIBOR + 4.50%, 0.00% Floor		4.82%		02/15/26		5,968,015
9,137,381		CHG Healthcare Services, Inc., Term Loan, 6 Mo. LIBOR + 3.00%, 1.00% Floor		4.07%		06/07/23		8,988,899
3,593,889		DuPage Medical Group (Midwest Physician Admin. Services, LLC), Repricing Term Loan, 1 Mo. LIBOR + 2.75%, 0.75% Floor		2.91%		08/15/24		3,469,900
5,537,591		Envision Healthcare Corporation, Initial Term Loan, 1 Mo. LIBOR + 3.75%, 0.00% Floor		3.91%		10/10/25		3,996,480
4,566,062		Surgery Centers Holdings, Inc., Term Loan B, 1 Mo. LIBOR + 3.25%, 1.00% Floor		4.25%		08/31/24		4,304,335
3,062,763		Team Health, Inc., Term Loan B, 1 Mo. LIBOR + 2.75%, 1.00% Floor		3.75%		02/06/24		2,543,380
2,121,995		U.S. Renal Care, Inc., Term Loan B, 1 Mo. LIBOR + 5.00%, 0.00% Floor		5.19%		06/28/26		2,068,053
4,768,369		Verscend Technologies, Inc., Term Loan B, 1 Mo. LIBOR + 4.50%, 0.00% Floor		4.66%		08/27/25		4,728,648

First Trust Senior Floating Rate Income Fund II (FCT)

Portfolio of Investments (Continued)

August 31, 2020 (Unaudited)

Principal Value		Description		Rate (a)		Stated Maturity (b)		Value
SENIOR FLOATING-RATE LOAN INTERESTS (c) (Continued)
		Health Care Services (Continued)
$185,717		Vizient, Inc., Term Loan B-6, 1 Mo. LIBOR + 2.00%, 0.00% Floor		2.16%		05/06/26		$182,003
								44,123,932
		Health Care Technology – 3.4%
283,305		Change Healthcare Holdings, LLC, Closing Date Term Loan, 1 Mo. LIBOR + 2.50%, 1.00% Floor		3.50%		03/01/24		277,718
6,909,337		Change Healthcare Holdings, LLC, Closing Date Term Loan, 3 Mo. LIBOR + 2.50%, 1.00% Floor		3.50%		03/01/24		6,773,085
6,846		Press Ganey (Azalea TopCo, Inc.), Term Loan B, 1 Mo. LIBOR + 3.50%, 0.00% Floor		3.66%		07/25/26		6,649
2,710,907		Press Ganey (Azalea TopCo, Inc.), Term Loan B, 3 Mo. LIBOR + 3.50%, 0.00% Floor		3.76%		07/25/26		2,632,969
1,779,577		Zelis Payments Buyer, Inc., Initial Term Loan, 1 Mo. LIBOR + 4.75%, 0.00% Floor		4.91%		09/30/26		1,777,726
								11,468,147
		Household Appliances – 0.4%
1,443,447		Traeger Grills (TGP Holdings III, LLC), 2018 Refinancing Term Loan, 3 Mo. LIBOR + 4.25%, 1.00% Floor		5.25%		09/25/24		1,387,960
		Human Resource & Employment Services – 1.2%
4,184,083		Alight, Inc. (fka Tempo Acq.), Non Extended Term Loan, 1 Mo. LIBOR + 2.75%, 0.00% Floor		2.91%		05/01/24		4,089,941
		Independent Power Producers & Energy Traders – 0.5%
1,889,692		Calpine Corporation, Term Loan B5, 1 Mo. LIBOR + 2.25%, 0.00% Floor		2.41%		01/15/24		1,847,703
		Industrial Machinery – 0.3%
982,801		Thyssenkrupp Elevator (Vertical U.S. Newco, Inc.), Term Loan B, 6 Mo. LIBOR + 4.25%, 0.00% Floor		4.57%		07/31/27		973,592
		Insurance Brokers – 14.5%
4,614,831		Alliant Holdings I, LLC, 2019 New Term Loan, 1 Mo. LIBOR + 3.25%, 0.00% Floor		3.43%		05/10/25		4,495,353
6,603,806		Alliant Holdings I, LLC, Initial Term Loan, 1 Mo. LIBOR + 2.75%, 0.00% Floor		2.91%		05/09/25		6,380,003
11,560,140		Amwins Group, Inc., Term Loan B (First Lien), 1 Mo. LIBOR + 2.75%, 1.00% Floor		3.75%		01/25/24		11,458,988
4,282,234		AssuredPartners, Inc., Term Loan B, 1 Mo. LIBOR + 3.50%, 0.00% Floor		3.66%		02/15/27		4,172,138
1,011,429		BroadStreet Partners, Inc., Incremental Term Loan B-1, 1 Mo. LIBOR + 3.75%, 1.00% Floor		4.75%		01/27/27		996,257
2,850,940		BroadStreet Partners, Inc., Term Loan B, 1 Mo. LIBOR + 3.25%, 0.00% Floor		3.41%		01/31/27		2,754,721
950,766		Cross Financial Corp., Term Loan B, 1 Mo. LIBOR + 4.50%, 1.00% Floor		5.50%		08/19/27		946,012
37,870		HUB International Limited, Term Loan B, 2 Mo. LIBOR + 3.00%, 0.00% Floor		3.22%		04/25/25		36,849
14,807,424		HUB International Limited, Term Loan B, 3 Mo. LIBOR + 3.00%, 0.00% Floor		3.26%		04/25/25		14,408,216
463,011		Ryan Specialty Group, LLC, Term Loan B, 1 Mo. LIBOR + 3.25%, 0.75% Floor		4.00%		07/23/27		460,988
2,232,582		USI, Inc. (fka Compass Investors, Inc.), Term Loan B, 3 Mo. LIBOR + 3.00%, 0.00% Floor		3.31%		05/15/24		2,168,864
								48,278,389

First Trust Senior Floating Rate Income Fund II (FCT)

Portfolio of Investments (Continued)

August 31, 2020 (Unaudited)

Principal Value		Description		Rate (a)		Stated Maturity (b)		Value
SENIOR FLOATING-RATE LOAN INTERESTS (c) (Continued)
		Integrated Telecommunication Services – 6.0%
$8,645,590		CenturyLink, Inc. (Qwest), Term Loan B, 1 Mo. LIBOR + 2.25%, 0.00% Floor		2.41%		03/15/27		$8,341,178
3,459,279		Numericable (Altice France SA or SFR), Term Loan B-11, 1 Mo. LIBOR + 2.75%, 0.00% Floor		2.91%		07/31/25		3,307,313
378,770		Numericable (Altice France SA or SFR), Term Loan B-13, 1 Mo. LIBOR + 4.00%, 0.00% Floor		4.75%		08/14/26		373,089
8,037,414		Zayo Group Holdings, Inc., Initial Dollar Term Loan, 1 Mo. LIBOR + 3.00%, 0.00% Floor		3.16%		03/09/27		7,794,765
								19,816,345
		Interactive Home Entertainment – 1.1%
3,624,655		Playtika Holding Corp., Term Loan B, 3 Mo. LIBOR + 6.00%, 1.00% Floor		7.07%		12/10/24		3,651,007
		Investment Banking & Brokerage – 1.7%
5,683,994		Citadel Securities L.P., Term Loan B, 1 Mo. LIBOR + 2.75%, 0.00% Floor		2.91%		02/27/26		5,634,259
		Leisure Facilities – 1.0%
3,827,598		ClubCorp Holdings, Inc., Term Loan B, 3 Mo. LIBOR + 2.75%, 0.00% Floor		3.06%		09/18/24		3,317,723
		Managed Health Care – 6.7%
17,965,920		Multiplan, Inc. (MPH), Term Loan B, 3 Mo. LIBOR + 2.75%, 1.00% Floor		3.75%		06/07/23		17,763,804
4,647,257		Versant Health (Wink Holdco, Inc.), Initial Term Loan, 1 Mo. LIBOR + 3.00%, 1.00% Floor		4.00%		12/02/24		4,538,325
								22,302,129
		Metal & Glass Containers – 1.3%
4,480,550		Berry Global, Inc., Term Loan Y, 1 Mo. LIBOR + 2.00%, 0.00% Floor		2.16%		07/01/26		4,339,995
		Movies & Entertainment – 2.9%
2,667,583		AMC Entertainment, Inc., Term Loan B, 6 Mo. LIBOR + 3.00%, 0.00% Floor		4.08%		04/22/26		2,024,029
20,975		AMC Entertainment, Inc., Term Loan B, Prime Rate + 3.50%, 0.00% Floor		6.75%		04/22/26		15,915
7,471,477		Cineworld Group PLC (Crown), Term Loan B, 6 Mo. LIBOR + 2.25%, 0.00% Floor		3.32%		02/28/25		5,837,092
527,907		Live Nation Entertainment, Inc., Term Loan B, 1 Mo. LIBOR + 1.75%, 0.00% Floor		1.94%		10/17/26		489,370
1,682,229		PUG, LLC (Stubhub), Term Loan B, 1 Mo. LIBOR + 3.50%, 0.00% Floor		3.66%		02/12/27		1,424,292
								9,790,698
		Other Diversified Financial Services – 6.2%
10,152,037		AlixPartners, LLP, Term Loan B, 1 Mo. LIBOR + 2.50%, 0.00% Floor		2.66%		04/04/24		9,918,540
10,890,930		Refinitiv US Holdings, Inc., Term Loan B, 1 Mo. LIBOR + 3.25%, 0.00% Floor		3.41%		10/01/25		10,789,753
								20,708,293
		Packaged Foods & Meats – 2.4%
405,484		BellRing Brands, LLC, Term Loan B, 1 Mo. LIBOR + 5.00%, 1.00% Floor		6.00%		10/21/24		404,852

First Trust Senior Floating Rate Income Fund II (FCT)

Portfolio of Investments (Continued)

August 31, 2020 (Unaudited)

Principal Value		Description		Rate (a)		Stated Maturity (b)		Value
SENIOR FLOATING-RATE LOAN INTERESTS (c) (Continued)
		Packaged Foods & Meats (Continued)
$1,994,006		Hostess Brands, LLC (HB Holdings), Term Loan B, 1 Mo. LIBOR + 2.25%, 0.75% Floor		3.00%		08/03/25		$1,956,299
18,556		Hostess Brands, LLC (HB Holdings), Term Loan B, 2 Mo. LIBOR + 2.25%, 0.75% Floor		3.00%		08/03/25		18,205
5,354,274		Hostess Brands, LLC (HB Holdings), Term Loan B, 3 Mo. LIBOR + 2.25%, 0.75% Floor		3.00%		08/03/25		5,253,025
339,508		Simply Good Foods (Atkins Nutritionals, Inc.), Term Loan B, 1 Mo. LIBOR + 3.75%, 1.00% Floor		4.75%		07/07/24		340,146
								7,972,527
		Paper Packaging – 2.3%
1,518,839		Graham Packaging Company L.P., Initial Term Loan, 1 Mo. LIBOR + 3.75%, 0.75% Floor		4.50%		07/28/27		1,515,801
6,278,863		Reynolds Group Holdings, Inc., U.S. Term Loan, 1 Mo. LIBOR + 2.75%, 0.00% Floor		2.91%		02/05/23		6,182,420
								7,698,221
		Paper Products – 0.3%
1,000,000		Neenah, Inc., Term Loan B, 3 Mo. LIBOR + 4.00%, 1.00% Floor		5.00%		06/30/27		1,002,500
		Pharmaceuticals – 13.6%
151,871		Akorn, Inc., DIP Term Loan, 1 Mo. LIBOR + 9.50%, 1.00% Floor (d)		10.50%		11/21/20		152,630
4,088,037		Akorn, Inc., Loan, 1 Mo. LIBOR + 14.50%, 1.00% Floor (d)		15.50%		04/16/21		3,626,089
15,785,236		Bausch Health Companies, Inc. (Valeant), Term Loan B, 1 Mo. LIBOR + 3.00%, 0.00% Floor		3.18%		06/01/25		15,515,624
9,599,262		Endo, LLC, Term Loan B, 3 Mo. LIBOR + 4.25%, 0.75% Floor		5.00%		04/29/24		9,237,274
4,812,184		GoodRX, Inc., Term Loan B, 1 Mo. LIBOR + 2.75%, 0.00% Floor		2.91%		10/15/25		4,755,063
4,724,721		Mallinckrodt International Finance S.A., 2017 Term Loan B, 6 Mo. LIBOR + 2.75%, 0.75% Floor		3.50%		09/24/24		4,109,043
1,074,695		Mallinckrodt International Finance S.A., 2018 Incremental Term Loan, 6 Mo. LIBOR + 3.00%, 0.75% Floor		3.75%		02/24/25		933,190
3,771,811		Parexel International Corp., Term Loan B, 1 Mo. LIBOR + 2.75%, 0.00% Floor		2.91%		09/27/24		3,640,741
3,214,377		Pharmaceutical Product Development, Inc. (PPDI/Jaguar), Term Loan B, 1 Mo. LIBOR + 2.50%, 1.00% Floor		3.50%		08/18/22		3,206,341
								45,175,995
		Publishing – 0.2%
604,613		Meredith Corp., Tranche B-3 Term Loan, 1 Mo. LIBOR + 4.25%, 1.00% Floor		5.25%		01/31/25		594,534
		Research & Consulting Services – 0.2%
449,371		Clarivate Analytics PLC (Camelot), Term Loan B, 1 Mo. LIBOR + 3.00%, 0.00% Floor		3.16%		10/31/26		440,946
187,098		Nielsen Finance, LLC (VNU, Inc.), Term Loan B5, 1 Mo. LIBOR + 3.75%, 1.00% Floor		4.75%		06/30/25		187,565
								628,511
		Restaurants – 3.0%
3,749,626		1011778 B.C. Unlimited Liability Company (Restaurant Brands) (aka Burger King/Tim Horton’s), Term Loan B-4, 1 Mo. LIBOR + 1.75%, 0.00% Floor		1.91%		11/14/26		3,604,328
2,860,478		IRB Holding Corp. (Arby’s/Inspire Brands), Term Loan B, 1 Mo. LIBOR + 2.75%, 1.00% Floor		3.75%		02/05/25		2,751,065

First Trust Senior Floating Rate Income Fund II (FCT)

Portfolio of Investments (Continued)

August 31, 2020 (Unaudited)

Principal Value		Description		Rate (a)		Stated Maturity (b)		Value
SENIOR FLOATING-RATE LOAN INTERESTS (c) (Continued)
		Restaurants (Continued)
$3,970,000		Portillo’s Holdings, LLC, Term Loan B-3, 3 Mo. LIBOR + 5.50%, 1.00% Floor		6.50%		08/30/24		$3,746,687
								10,102,080
		Security & Alarm Services – 0.2%
549,406		Garda World Security Corporation, Term Loan B, 1 Mo. LIBOR + 4.75%, 0.00% Floor		4.93%		10/30/26		547,071
		Specialized Consumer Services – 3.5%
3,157,905		Asurion, LLC, Second Lien Replacement B-2 Term Loan, 1 Mo. LIBOR + 6.50%, 0.00% Floor		6.66%		08/04/25		3,162,642
6,326,841		Asurion, LLC, Term Loan B6, 1 Mo. LIBOR + 3.00%, 0.00% Floor		3.16%		11/03/23		6,210,870
2,179,223		Asurion, LLC, Term Loan B7, 1 Mo. LIBOR + 3.00%, 0.00% Floor		3.16%		11/03/24		2,138,820
								11,512,332
		Specialty Chemicals – 0.3%
993,304		H.B. Fuller Company, Term Loan B, 1 Mo. LIBOR + 2.00%, 0.00% Floor		2.16%		10/20/24		967,339
		Systems Software – 7.2%
5,147,288		Applied Systems, Inc., 1st Lien Term Loan, 3 Mo. LIBOR + 3.25%, 1.00% Floor		4.25%		09/19/24		5,120,368
1,511,161		Applied Systems, Inc., 2nd Lien Term Loan, 3 Mo. LIBOR + 7.00%, 1.00% Floor		8.00%		09/19/25		1,531,939
4,679,328		BMC Software Finance, Inc. (Boxer Parent), Term Loan B, 1 Mo. LIBOR + 4.25%, 0.00% Floor		4.41%		10/02/25		4,587,707
1,346,770		Misys Financial Software Ltd. (Almonde, Inc.) (Finastra), Term Loan B, 3 Mo. LIBOR + 3.50%, 1.00% Floor		4.50%		06/13/24		1,266,220
8,565		Riverbed Technology, Inc., Term Loan B, 2 Mo. LIBOR + 3.25%, 1.00% Floor		4.25%		04/24/22		7,563
3,237,520		Riverbed Technology, Inc., Term Loan B, 3 Mo. LIBOR + 3.25%, 1.00% Floor		4.25%		04/24/22		2,858,730
3,156,407		Sophos Group PLC (Surf), Term Loan B, 3 Mo. LIBOR + 3.50%, 0.00% Floor		3.83%		03/05/27		3,078,380
2,158,914		SS&C European Holdings, S.a.r.l, Term Loan B-5, 1 Mo. LIBOR + 1.75%, 0.00% Floor		1.91%		04/16/25		2,095,377
1,312,468		SUSE (Marcel Lux IV SARL), Facility B1 USD, 1 Mo. LIBOR + 3.25%, 0.00% Floor		3.41%		03/15/26		1,275,286
2,024,108		Vertafore, Inc., Term Loan B, 1 Mo. LIBOR + 3.25%, 0.00% Floor		3.41%		07/02/25		2,022,327
								23,843,897
		Wireless Telecommunication Services – 1.4%
1,448,786		Frontier Communications Corp., Term Loan B-1, 3 Mo. LIBOR + 3.75%, 0.75% Floor (d)		5.35%		06/15/24		1,460,015
4,842		Frontier Communications Corp., Term Loan B-1, Prime Rate + 2.75%, 0.75% Floor (d)		6.00%		06/15/24		4,879
3,102,950		T-Mobile USA, Inc., Term Loan B, 1 Mo. LIBOR + 3.00%, 0.00% Floor		3.16%		04/01/27		3,109,559
								4,574,453
		Total Senior Floating-Rate Loan Interests						469,414,670
		(Cost $483,313,072)

First Trust Senior Floating Rate Income Fund II (FCT)

Portfolio of Investments (Continued)

August 31, 2020 (Unaudited)

Principal Value		Description		Stated Coupon		Stated Maturity		Value
CORPORATE BONDS AND NOTES (c) – 1.2%
		Airlines – 0.2%
$605,000		Mileage Plus Holdings, LLC / Mileage Plus Intellectual Property Assets Ltd. (e)		6.50%		06/20/27		$630,712
		Broadcasting – 0.5%
1,238,000		Cumulus Media New Holdings, Inc. (e)		6.75%		07/01/26		1,116,323
519,000		Diamond Sports Group, LLC / Diamond Sports Finance Co. (e)		5.38%		08/15/26		406,074
								1,522,397
		Casinos & Gaming – 0.5%
1,440,000		Caesars Entertainment, Inc. (e)		6.25%		07/01/25		1,528,193
		Integrated Telecommunication Services – 0.0%
107,000		Windstream Escrow, LLC / Windstream Escrow Finance Corp. (e)		7.75%		08/15/28		107,401
		Total Corporate Bonds and Notes						3,788,703
		(Cost $3,682,220)

Shares		Description		Value
COMMON STOCKS (c) – 0.7%
		Broadcasting – 0.1%
25,815		Cumulus Media, Class A (f)		128,301
		Electric Utilities – 0.6%
106,607		Vistra Energy Corp.		2,050,053
		Oil & Gas Exploration & Production – 0.0%
119,734		Ascent Resources - Marcellus, LLC Class A Common Shares (f) (g)		104,767
3,699		Fieldwood Energy Equity (f) (g)		370
				105,137
		Total Common Stocks		2,283,491
		(Cost $3,357,339)
RIGHTS (c) – 0.0%
		Electric Utilities – 0.0%
106,607		Vistra Energy Corp., no expiration date (f) (h)		117,268
		Life Sciences Tools & Services – 0.0%
1		New Millennium Holdco, Inc., Corporate Claim Trust, no expiration date (f) (h) (i) (j)		0
1		New Millennium Holdco, Inc., Lender Claim Trust, no expiration date (f) (h) (i) (j)		0
				0
		Total Rights		117,268
		(Cost $174,207)
WARRANTS (c) – 0.0%
		Oil & Gas Exploration & Production – 0.0%
31,000		Ascent Resources - Marcellus, LLC First Lien Warrants, expiring 3/30/23 (f) (h)		930
		(Cost $3,100)
MONEY MARKET FUNDS (c) – 1.9%
6,260,181		Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class - 0.01% (k)		6,260,181
		(Cost $6,260,181)
		Total Investments – 144.9%		481,865,243
		(Cost $496,790,119) (l)
		Outstanding Loans – (40.9)%		(136,000,000)
		Net Other Assets and Liabilities – (4.0)%		(13,254,665)
		Net Assets – 100.0%		$332,610,578

First Trust Senior Floating Rate Income Fund II (FCT)

Portfolio of Investments (Continued)

August 31, 2020 (Unaudited)

(a)	Senior Floating-Rate Loan Interests (“Senior Loans”) in which the Fund invests pay interest at rates which are periodically predetermined by reference to a base lending rate plus a premium. These base lending rates are generally (i) the lending rate offered by one or more major European banks, such as the LIBOR, (ii) the prime rate offered by one or more United States banks or (iii) the certificate of deposit rate. Certain Senior Loans are subject to a LIBOR floor that establishes a minimum LIBOR rate. When a range of rates is disclosed, the Fund holds more than one contract within the same tranche with identical LIBOR period, spread and floor, but different LIBOR reset dates.
(b)	Senior Loans generally are subject to mandatory and/or optional prepayment. As a result, the actual remaining maturity of Senior Loans may be substantially less than the stated maturities shown.
(c)	All of these securities are available to serve as collateral for the outstanding loans.
(d)	This issuer has filed for protection in bankruptcy court.
(e)	This security, sold within the terms of a private placement memorandum, is exempt from registration upon resale under Rule 144A under the Securities Act of 1933, as amended (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 First Trust Advisors L.P. (the “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 August 31, 2020, securities noted as such amounted to $3,788,703 or 1.2% of net assets.
(f)	Non-income producing security.
(g)	Security received in a transaction exempt from registration under the 1933 Act. The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. Pursuant to procedures adopted by the Fund’s Board of Trustees, this security has been determined to be illiquid by the Advisor. Although market instability can result in periods of increased overall market illiquidity, liquidity for the security is determined based on security-specific factors and assumptions, which require subjective judgment. At August 31, 2020, securities noted as such amounted to $105,137 or 0.0% of net assets.
(h)	Pursuant to procedures adopted by the Fund’s Board of Trustees, this security has been determined to be illiquid by the Advisor.
(i)	This security is fair valued by the Advisor’s Pricing Committee in accordance with procedures adopted by the Fund’s Board of Trustees, and in accordance with the provisions of the Investment Company Act of 1940, as amended. At August 31, 2020, securities noted as such are valued at $0 or 0.0% of net assets.
(j)	This security’s value was determined using significant unobservable inputs (see Valuation Inputs section).
(k)	Rate shown reflects yield as of August 31, 2020.
(l)	Aggregate cost for financial reporting purposes approximates the aggregate cost for federal income tax purposes. As of August 31, 2020, the aggregate gross unrealized appreciation for all investments in which there was an excess of value over tax cost was $1,834,640 and the aggregate gross unrealized depreciation for all investments in which there was an excess of tax cost over value was $16,759,516. The net unrealized depreciation was $14,924,876.

LIBOR London Interbank Offered Rate

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.

First Trust Senior Floating Rate Income Fund II (FCT)

Portfolio of Investments (Continued)

August 31, 2020 (Unaudited)

A summary of the inputs used to value the Fund’s investments as of August 31, 2020 is as follows:

	Total Value at 8/31/2020	Level 1 Quoted Prices	Level 2 Significant Observable Inputs	Level 3 Significant Unobservable Inputs
Senior Floating-Rate Loan Interests*	$ 469,414,670	$ —	$ 469,414,670	$ —
Corporate Bonds and Notes*	3,788,703	—	3,788,703	—
Common Stocks:
Oil & Gas Exploration & Production	105,137	—	105,137	—
Other industry categories*	2,178,354	2,178,354	—	—
Rights:
Electric Utilities	117,268	—	117,268	—
Life Sciences Tools & Services	—**	—	—	—**
Warrants*	930	—	930	—
Money Market Funds	6,260,181	6,260,181	—	—
Total Investments	$ 481,865,243	$ 8,438,535	$ 473,426,708	$ —**

*	See Portfolio of Investments for industry breakout.
**	Investment is valued at $0.

Level 3 Investments that are fair valued by the Advisor’s Pricing Committee are footnoted in the Portfolio of Investments. All Level 3 values are based on unobservable inputs.