NPORT-EX 2 FT30FT08312025.htm EDGAR HTML
First Trust Senior Floating Rate Income Fund II (FCT)
Portfolio of Investments
August 31, 2025 (Unaudited)
 
Principal
Value
Description
Rate (a)
Stated
Maturity (b)
Value
SENIOR FLOATING-RATE LOAN INTERESTS (c) – 120.3%
Advertising – 0.3%
$820,608
WH Borrower LLC (WHP), Term Loan B, 3 Mo. CME Term
SOFR + 4.75%, 0.50% Floor
8.95
%
02/20/32
$824,711
Aerospace & Defense – 2.1%
380,305
BBA Aviation (Signature Aviation US Holdings, Inc./Brown Group
Holding LLC), Term Loan B-1, 1 Mo. CME Term SOFR +
2.50%, 0.50% Floor
6.82
%
07/01/31
380,359
27,538
BBA Aviation (Signature Aviation US Holdings, Inc./Brown Group
Holding LLC), Term Loan B2, 1 Mo. CME Term SOFR + 2.75%,
0.50% Floor
7.07
%
07/01/31
94,238
93,988
BBA Aviation (Signature Aviation US Holdings, Inc./Brown Group
Holding LLC), Term Loan B2, 3 Mo. CME Term SOFR + 2.75%,
0.50% Floor
6.95%-7.06%
07/01/31
27,612
572,873
Signia Aerospace LLC, Refi Term Loan B, 2 Mo. CME Term
SOFR + 2.75%, 0.50% Floor
7.06
%
12/11/31
575,379
705,815
Spirit Aerosystems, Inc., Term Loan B, 3 Mo. CME Term SOFR +
4.50%, 0.50% Floor
8.81
%
01/15/27
710,227
2,506,833
Transdigm, Inc., Term Loan I, 3 Mo. CME Term SOFR + 2.75%,
0.00% Floor
7.05
%
08/24/28
2,516,045
1,312,539
Transdigm, Inc., Term Loan K, 3 Mo. CME Term SOFR + 2.75%,
0.00% Floor
7.05
%
03/22/30
1,317,251
 
5,621,111
Alternative Carriers – 0.8%
2,138,371
Level 3 Financing, Inc., Term B-3 Refinancing Term Loan, 1 Mo.
CME Term SOFR + 4.25%, 0.50% Floor
8.57
%
03/31/32
2,153,521
Apparel Retail – 0.6%
1,060,878
Authentic Brands Group (ABG Intermediate Holdings 2 LLC), Refi
Term Loan B, 1 Mo. CME Term SOFR + 2.25%, 0.00% Floor
6.57
%
12/21/28
1,060,548
468,966
Hanesbrands, Inc., Term Loan B, 1 Mo. CME Term SOFR +
2.75%, 0.00% Floor
7.07
%
03/08/32
471,386
 
1,531,934
Apparel, Accessories & Luxury Goods – 0.1%
310,551
Canada Goose Holdings, Inc., Term Loan B, 3 Mo. CME Term
SOFR + 3.50%, 0.50% Floor
7.71
%
08/23/32
312,492
Application Software – 14.2%
615,105
Applied Systems, Inc., Term Loan B-2, 1 Mo. CME Term SOFR +
2.25%, 0.00% Floor
6.45
%
02/24/31
615,201
1,086,670
CCC Intelligent Solutions, Inc., 2032 Term Loan B, 1 Mo. CME
Term SOFR + 2.00%, 0.50% Floor
6.32
%
01/23/32
1,088,370
466,101
Clearwater Analytics LLC, Term Loan B, 6 Mo. CME Term SOFR
+ 2.25%, 0.00% Floor
6.46
%
04/21/32
467,851
2,679,116
Cloud Software Group, Inc. (aka Citrix Software, Inc. or Tibco),
2032 Term Loan, 1 Mo. CME Term SOFR + 3.25%, 0.00%
Floor
7.48
%
08/15/32
2,686,899
603,906
ConnectWise LLC, Term Loan B, 3 Mo. CME Term SOFR + CSA
+ 3.50%, 0.50% Floor
8.06
%
09/30/28
606,820
622,213
Darktrace PLC (Leia Finco US LLC), Second Lien Term Loan, 3
Mo. CME Term SOFR + 5.25%, 0.00% Floor
9.57
%
10/09/32
625,517
3,244,711
Darktrace PLC (Leia Finco US LLC), Term Loan B, 3 Mo. CME
Term SOFR + 3.25%, 0.00% Floor
7.57
%
10/09/31
3,255,873
376,606
Duck Creek Technologies (Disco Parent, Inc.), Term Loan B, 3
Mo. CME Term SOFR + 3.25%, 0.00% Floor
7.48
%
08/08/32
379,431
First Trust Senior Floating Rate Income Fund II (FCT)
Portfolio of Investments (Continued)
August 31, 2025 (Unaudited)
Principal
Value
Description
Rate (a)
Stated
Maturity (b)
Value
SENIOR FLOATING-RATE LOAN INTERESTS (c) (Continued)
Application Software (Continued)
$906,393
Ellucian Holdings, Inc., Refi Term Loan B, 1 Mo. CME Term
SOFR + 3.00%, 0.50% Floor
7.07
%
10/07/29
$908,378
371,979
Envestnet, Inc. (BCPE Pequod Buyer, Inc.), Refi Term Loan B, 1
Mo. CME Term SOFR + 3.50%, 0.00% Floor
7.32
%
11/25/31
373,007
3,399,339
Epicor Software Corp., Term Loan B, 1 Mo. CME Term SOFR +
3.25%, 0.75% Floor
6.82
%
05/30/31
3,411,882
656,715
Genesys Cloud Services Holding II LLC, Term Loan B, 1 Mo.
CME Term SOFR + 2.50%, 0.00% Floor
6.82
%
01/31/32
657,946
845,421
Inmar, Inc., Refi Term Loan, 3 Mo. CME Term SOFR + 4.50%,
0.00% Floor
8.80
%
10/30/31
848,596
1,500,144
Internet Brands, Inc. (Web MD/MH Sub I. LLC), 2023 New Term
Loan B, 1 Mo. CME Term SOFR + 4.25%, 0.50% Floor
8.57
%
05/03/28
1,395,974
2,233,908
LogMeIn, Inc. (GoTo Group, Inc.), First Lien First Out TL, 3 Mo.
CME Term SOFR + CSA + 4.75%, 0.00% Floor
9.22
%
04/30/28
1,943,969
1,990,995
LogMeIn, Inc. (GoTo Group, Inc.), First Lien Second Out TL, 3
Mo. CME Term SOFR + CSA + 4.75%, 0.00% Floor (d)
9.22
%
04/30/28
724,583
3,204,403
McAfee Corp. (Condor Merger Sub, Inc.), Term Loan B-1, 1 Mo.
CME Term SOFR + 3.00%, 0.50% Floor
7.35
%
03/01/29
3,069,546
351,141
N-Able, Inc., Term Loan B, 3 Mo. CME Term SOFR + CSA +
2.75%, 0.50% Floor
7.21
%
07/19/28
352,458
1,382,132
NCR Digital Banking (Dragon Buyer, Inc./Candescent), Term Loan
B, 3 Mo. CME Term SOFR + 3.25%, 0.00% Floor
7.05
%
09/30/31
1,385,484
587,466
OSTTRA (Orion US Finco), 1st Lien Term Loan B, 1 Mo. CME
Term SOFR + 3.50%, 0.00% Floor
7.77
%
07/31/32
592,084
430,556
Qlik Technologies (Project Alpha Intermediate Holding, Inc.),
Second Lien Term Loan, 3 Mo. CME Term SOFR + 5.00%,
0.50% Floor
9.30
%
05/08/33
429,751
1,936,852
Qlik Technologies (Project Alpha Intermediate Holding, Inc.), Term
Loan B, 3 Mo. CME Term SOFR + 3.25%, 0.50% Floor
7.55
%
10/28/30
1,945,441
129,928
RealPage, Inc., Term Loan B, 3 Mo. CME Term SOFR + CSA +
3.00%, 0.50% Floor
7.56
%
04/24/28
129,906
719,116
SolarWinds Holdings, Inc. (Starlight Parent. LLC), Term Loan B, 1
Mo. CME Term SOFR + 4.00%, 0.00% Floor
8.36
%
04/16/32
710,803
2,253,039
Solera Holdings, Inc. (Polaris Newco), Term Loan B, 3 Mo. CME
Term SOFR + CSA + 4.00%, 0.50% Floor
8.32
%
06/04/28
2,149,985
3,426,309
Ultimate Software Group (UKG Inc.), Refi Term Loan, 3 Mo.
CME Term SOFR + 2.50%, 0.00% Floor
6.81
%
02/10/31
3,428,605
3,332,564
Veeam Software Holdings Ltd. (VS Buyer LLC), Refi Term Loan,
1 Mo. CME Term SOFR + 2.25%, 0.00% Floor
6.56
%
04/14/31
3,339,512
658,065
X.AI LLC (Project Xerxes), Fixed Rate Term Loan
12.50
%
06/30/30
659,404
680,000
X.AI LLC (Project Xerxes), Floating Rate Term Loan B, 3 Mo.
CME Term SOFR + 7.25%, 0.00% Floor
11.55
%
06/30/30
653,650
 
38,836,926
Asset Management & Custody Banks – 4.3%
1,401,318
Alter Domus (Chrysaor Bidco SARL), Term Loan B, 3 Mo. CME
Term SOFR + 3.00%, 0.50% Floor
7.33
%
10/31/31
1,410,076
3,454,133
Ascensus Holdings, Inc. (Mercury), Term Loan B, 1 Mo. CME
Term SOFR + 3.00%, 0.00% Floor
7.32
%
08/02/28
3,461,421
1,631,198
Edelman Financial Engines Center LLC, Refi Term Loan B, 1 Mo.
CME Term SOFR + 3.00%, 0.00% Floor
7.32
%
04/07/28
1,635,317
1,588,689
Edelman Financial Engines Center LLC, Second Lien Term Loan,
1 Mo. CME Term SOFR + 5.25%, 0.00% Floor
9.57
%
10/06/28
1,594,654
207,411
IQ-EQ (Saphilux SARL), USD Term Loan B, 1 Mo. CME Term
SOFR + 3.00%, 0.50% Floor
7.29
%
07/27/28
208,579
First Trust Senior Floating Rate Income Fund II (FCT)
Portfolio of Investments (Continued)
August 31, 2025 (Unaudited)
Principal
Value
Description
Rate (a)
Stated
Maturity (b)
Value
SENIOR FLOATING-RATE LOAN INTERESTS (c) (Continued)
Asset Management & Custody Banks (Continued)
$2,427,804
Jump Financial LLC, Refi Term Loan B, 1 Mo. CME Term SOFR
+ 3.50%, 0.00% Floor
7.83
%
02/26/32
$2,452,082
867,223
Osaic Holdings, Inc. (Advisor Group), Term Loan B, 1 Mo. CME
Term SOFR + 3.00%, 0.00% Floor
7.32
%
07/31/32
867,887
 
11,630,016
Automotive Parts & Equipment – 1.5%
2,005,193
Clarios Global, L.P. (Power Solutions), 2032 Term Loan B, 1 Mo.
CME Term SOFR + 2.75%, 0.00% Floor
7.07
%
01/31/32
2,009,263
1,990,000
Clarios Global, L.P. (Power Solutions), Term Loan B, 1 Mo. CME
Term SOFR + 2.50%, 0.00% Floor
6.82
%
05/06/30
1,992,985
 
4,002,248
Automotive Retail – 2.7%
2,390,227
Highline Aftermarket Acquisition LLC, Refi Term Loan B, 3 Mo.
CME Term SOFR + 3.50%, 0.75% Floor
7.70
%
02/19/30
2,408,166
182,354
Les Schwab Tire Centers (LS Group OpCo Acq. LLC), Refi Term
Loan B, 1 Mo. CME Term SOFR + 2.50%, 0.00% Floor
6.82
%
04/23/31
182,412
1,553,331
Les Schwab Tire Centers (LS Group OpCo Acq. LLC), Refi Term
Loan B, 3 Mo. CME Term SOFR + 2.50%, 0.00% Floor
6.70
%
04/23/31
1,553,820
3,102,701
Mavis Tire Express Services Topco Corp., Refi Term Loan B, 3
Mo. CME Term SOFR + 3.00%, 0.75% Floor
7.20
%
05/04/28
3,113,700
 
7,258,098
Broadline Retail – 0.2%
454,998
Peer Holding III B.V. (Action Holding), 2031 Term Loan B5B, 3
Mo. CME Term SOFR + 2.50%, 0.00% Floor
6.80
%
07/01/31
456,476
Building Products – 2.3%
682,920
American Bath (CP Atlas Buyer, Inc.), Term Loan B, 1 Mo. CME
Term SOFR + 5.25%, 0.00% Floor
9.57
%
07/08/30
658,335
1,718,013
Miter Brands Acq. Holdco, Inc. (MIWD), Refi Term Loan, 1 Mo.
CME Term SOFR + 3.50%, 0.00% Floor
7.07
%
03/28/31
1,727,952
2,354,902
TAMKO Building Products, Inc., Term Loan B, 3 Mo. CME Term
SOFR + 2.75%, 0.00% Floor
6.95%-7.06%
09/20/30
3,312,143
1,401,615
TAMKO Building Products, Inc., Term Loan B, 6 Mo. CME Term
SOFR + 2.75%, 0.00% Floor
6.79%-6.95%
09/20/30
459,625
 
6,158,055
Casinos & Gaming – 0.7%
669,029
Caesars Entertainment, Inc., 2031 Maturity Term Loan B1, 1 Mo.
CME Term SOFR + 2.75%, 0.50% Floor
6.57
%
02/06/31
668,109
487,051
Flutter Entertainment PLC (Flutter Treasury DAC), Incremental
Term Loan, 3 Mo. CME Term SOFR + 2.00%, 0.50% Floor
6.30
%
06/04/32
486,644
772,390
Golden Nugget, Inc. (Fertitta Entertainment LLC), Refi Term Loan,
1 Mo. CME Term SOFR + 3.25%, 0.50% Floor
7.57
%
01/29/29
772,923
 
1,927,676
Commercial Printing – 0.3%
883,348
Multi-Color Corp. (LABL, Inc.), Initial Dollar Term Loan, 1 Mo.
CME Term SOFR + CSA + 5.00%, 0.50% Floor
9.42
%
10/29/28
702,907
Commodity Chemicals – 1.2%
3,343,858
Charter Next Generation, Inc., Term Loan B, 1 Mo. CME Term
SOFR + 3.00%, 0.75% Floor
7.11
%
12/01/30
3,361,748
First Trust Senior Floating Rate Income Fund II (FCT)
Portfolio of Investments (Continued)
August 31, 2025 (Unaudited)
Principal
Value
Description
Rate (a)
Stated
Maturity (b)
Value
SENIOR FLOATING-RATE LOAN INTERESTS (c) (Continued)
Communications Equipment – 0.2%
$612,217
Viavi Solutions, Inc., Term Loan B, 1 Mo. CME Term SOFR +
2.50%, 0.00% Floor
6.77
%
07/31/32
$614,323
Construction & Engineering – 0.4%
156,827
Azuria Water Solutions (f/k/a - Aegion Corp), Term Loan B, 1 Mo.
CME Term SOFR + 3.00%, 0.75% Floor
7.27
%
05/31/28
157,342
362,398
Centuri Group, Inc., Term Loan B, 1 Mo. CME Term SOFR +
2.25%, 0.00% Floor
6.57
%
07/09/32
363,644
541,296
Construction Partners, Inc., Term Loan B, 1 Mo. CME Term SOFR
+ 2.50%, 0.00% Floor
6.82
%
11/01/31
543,326
155,714
Socotec SAS (Socotec US Holdings), Term Loan B, 1 Mo. CME
Term SOFR + 3.25%, 0.75% Floor
7.52
%
06/02/31
157,044
 
1,221,356
Construction Materials – 1.4%
342,386
Knife River Corp., Term Loan B, 3 Mo. CME Term SOFR +
2.00%, 0.00% Floor
6.31
%
03/07/32
343,242
594,510
Quikrete Holdings, Inc., Term Loan B1 2031, 1 Mo. CME Term
SOFR + 2.25%, 0.00% Floor
6.57
%
04/14/31
595,069
1,591,974
Quikrete Holdings, Inc., Term Loan B2 2029, 1 Mo. CME Term
SOFR + 2.25%, 0.00% Floor
6.57
%
03/18/29
1,594,545
1,178,546
Quikrete Holdings, Inc., Term Loan B3 2032, 1 Mo. CME Term
SOFR + 2.25%, 0.00% Floor
6.57
%
02/10/32
1,179,654
 
3,712,510
Consumer Electronics – 0.0%
114,225
Minimax Viking GmbH (MX Holdings/Igloo Holdings), Term Loan
B, 1 Mo. CME Term SOFR + 2.25%, 0.00% Floor
6.57
%
03/17/32
114,618
Consumer Finance – 0.5%
1,274,100
Creative Planning Group (CPI Holdco), Initial Term Loan, 1 Mo.
CME Term SOFR + 2.00%, 0.00% Floor
6.32
%
05/19/31
1,273,502
Data Processing & Outsourced Services – 1.1%
2,015,827
Consilio (Skopima Consilio Parent LLC), Refi Term Loan B, 1
Mo. CME Term SOFR + 3.75%, 0.50% Floor
8.07
%
05/17/28
1,906,035
1,044,472
Paysafe Holdings (US) Corp., Facility B1 Loan, 1 Mo. CME Term
SOFR + CSA + 2.75%, 0.50% Floor
7.18
%
06/28/28
1,043,166
 
2,949,201
Distillers & Vintners – 0.4%
994,843
Sazerac Company, Inc., Term Loan B, 1 Mo. CME Term SOFR +
2.50%, 0.00% Floor
6.86
%
07/10/32
1,001,419
Diversified Metals & Mining – 1.0%
2,705,194
SCIH Salt Holdings, Inc. (aka Morton Salt), Term Loan B, 3 Mo.
CME Term SOFR + 3.00%, 0.75% Floor
7.20
%
01/31/29
2,713,878
Diversified Support Services – 1.1%
2,172,428
First Advantage Corp., Refi Term Loan B, 1 Mo. CME Term
SOFR + 2.75%, 0.00% Floor
7.07
%
10/31/31
2,180,585
854,397
Vestis Corp., Term Loan B-1, 3 Mo. CME Term SOFR + 2.25%,
0.00% Floor
6.45
%
02/22/31
810,964
 
2,991,549
First Trust Senior Floating Rate Income Fund II (FCT)
Portfolio of Investments (Continued)
August 31, 2025 (Unaudited)
Principal
Value
Description
Rate (a)
Stated
Maturity (b)
Value
SENIOR FLOATING-RATE LOAN INTERESTS (c) (Continued)
Drug Retail – 0.1%
$192,399
Boots Group Finco, L.P., Term Loan B, 3 Mo. CME Term SOFR +
3.50%, 0.00% Floor
7.70
%
09/30/32
$193,121
Education Services – 0.5%
745,524
Kindercare Learning Companies (KUEHG Corp.), Term Loan B, 3
Mo. CME Term SOFR + 2.75%, 0.50% Floor
7.54
%
06/12/30
747,388
485,894
Prometric Holdings, Inc., Term Loan B, 1 Mo. CME Term SOFR +
3.75%, 0.00% Floor
8.07
%
06/24/32
489,235
 
1,236,623
Electric Utilities – 0.5%
1,338,452
Alpha Generation LLC (AlphaGen), Term Loan B, 1 Mo. CME
Term SOFR + 2.75%, 0.00% Floor
6.32
%
09/30/31
1,338,177
Electronic Equipment & Instruments – 0.7%
854,711
Chamberlain Group, Inc. (Chariot), Extended Term Loan, 1 Mo.
CME Term SOFR + 3.00%, 0.00% Floor
7.27
%
09/01/32
856,100
253,661
Convergint Technologies (DG Investment Intermediate Holdingd 2,
Inc.), Term Loan B, 1 Mo. CME Term SOFR + 3.75%, 0.00%
Floor
8.10
%
07/10/32
255,247
761,680
Verifone Systems, Inc., Extended Term Loan, 3 Mo. CME Term
SOFR + CSA + 5.50%, 0.00% Floor
10.07
%
08/21/28
727,286
 
1,838,633
Environmental & Facilities Services – 0.6%
819,630
Allied Universal Holdco LLC, Extended Term Loan B, 1 Mo.
CME Term SOFR + 3.25%, 0.00% Floor
7.59
%
08/20/32
823,401
295,248
Anticimex Global AB, Facility B6, Daily CME Term SOFR +
3.40%, 0.50% Floor
7.76
%
11/16/28
296,539
610,671
Interstate Waste Services (Action Environmental Group, Inc.), Term
Loan B, 2 Mo. CME Term SOFR + 3.25%, 0.50% Floor
7.55
%
10/24/30
612,197
 
1,732,137
Food Distributors – 0.1%
347,994
C&S Wholesale Grocers LLC, Term Loan B, 1 Mo. CME Term
SOFR + 5.00%, 0.00% Floor
9.27
%
09/30/30
341,253
Footwear – 0.2%
643,437
Skechers (Beach Acquisition Bidco LLC), Term Loan B, 1 Mo.
CME Term SOFR + 3.25%, 0.00% Floor
7.52
%
07/31/32
648,263
Health Care Facilities – 4.5%
2,514,815
Ardent Health Services, Inc. (AHP Health Partners, Inc.), 2024
Refi Term Loan, 1 Mo. CME Term SOFR + 2.75%, 0.50%
Floor
7.07
%
08/24/28
2,527,917
1,581,844
Ceva Sante (Financiere Mendel), USD Term Loan B, 3 Mo. CME
Term SOFR + 2.75%, 0.00% Floor
6.98
%
11/13/30
1,587,776
608,701
Concentra Health Services, Inc., Refi Term Loan B, 1 Mo. CME
Term SOFR + 2.00%, 0.00% Floor
6.32
%
07/26/31
612,317
564,351
Hanger, Inc., Term Loan B, 1 Mo. CME Term SOFR + 3.50%,
0.00% Floor
7.82
%
10/23/31
566,233
3,149,890
IVC Evidensia (VetStrategy Canada/IVC Acquisition Midco Ltd.),
Term Loan B-12, 3 Mo. CME Term SOFR + 3.75%, 0.50%
Floor
8.05
%
12/06/28
3,173,514
998,389
Select Medical Corp., Term Loan B-2, 1 Mo. CME Term SOFR +
2.00%, 0.00% Floor
6.32
%
11/30/31
1,002,133
First Trust Senior Floating Rate Income Fund II (FCT)
Portfolio of Investments (Continued)
August 31, 2025 (Unaudited)
Principal
Value
Description
Rate (a)
Stated
Maturity (b)
Value
SENIOR FLOATING-RATE LOAN INTERESTS (c) (Continued)
Health Care Facilities (Continued)
$2,894,735
Southern Veterinary Partners LLC (Mission Pet), Refi Term Loan,
3 Mo. CME Term SOFR + 2.50%, 0.00% Floor
6.82
%
12/04/31
$2,896,689
 
12,366,579
Health Care Services – 4.8%
1,938,966
Ensemble RCM LLC (Ensemble Health), 2024 Refi Loan, 3 Mo.
CME Term SOFR + 3.00%, 0.00% Floor
7.31
%
08/01/29
1,949,766
3,184,686
ExamWorks Group, Inc. (Electron Bidco), Refi Term Loan, 1 Mo.
CME Term SOFR + 2.75%, 0.50% Floor
7.07
%
11/01/28
3,194,638
870,479
Heartland Dental Care LLC, Term Loan B, 1 Mo. CME Term
SOFR + 3.75%, 0.00% Floor
8.07
%
08/25/32
871,567
2,846,436
Opella Healthcare Group (Opal U.S. LLC), Facility B2 (USD), 3
Mo. CME Term SOFR + 3.25%, 0.00% Floor
7.44
%
04/23/32
2,866,446
1,255,932
Pacific Dental Services LLC, Term Loan B, 1 Mo. CME Term
SOFR + 2.75%, 0.00% Floor
7.09
%
03/17/31
1,259,505
2,412,557
R1 RCM, Inc. (Raven Acq. Holdings LLC), Term Loan B, 1 Mo.
CME Term SOFR + 3.25%, 0.00% Floor
7.32
%
11/19/31
2,421,605
383,271
Radnet Management, Inc., Refi Term Loan, 3 Mo. CME Term
SOFR + 2.25%, 0.00% Floor
6.45
%
04/18/31
384,528
244,103
SCP Health (Onex TSG Intermediate Corp.), Term Loan B, 3 Mo.
CME Term SOFR + 3.75%, 0.00% Floor
8.00
%
08/06/32
245,171
 
13,193,226
Health Care Supplies – 1.2%
2,674,565
Medline Borrower, L.P. (Mozart), Refi 2028 Term Loan, 1 Mo.
CME Term SOFR + 2.00%, 0.50% Floor
6.32
%
10/23/28
2,677,640
581,687
Performance Health, Inc., Term Loan B, 3 Mo. CME Term SOFR
+ 3.75%, 0.00% Floor
7.95
%
03/19/32
571,508
 
3,249,148
Health Care Technology – 6.4%
5,251,561
athenahealth Group, Inc., Refi Term Loan B, 1 Mo. CME Term
SOFR + 2.75%, 0.50% Floor
7.07
%
02/15/29
5,254,292
482,271
Cotiviti, Inc. (Verscend), Fixed Rate Term Loan
7.63
%
05/01/31
489,203
3,326,741
Cotiviti, Inc. (Verscend), Term Loan B, 1 Mo. CME Term SOFR +
3.25%, 0.00% Floor
7.10
%
05/01/31
3,330,916
4,553,189
Mediware (Wellsky/Project Ruby Ultimate Parent Corp.), Refi
Term Loan B, 1 Mo. CME Term SOFR + 2.75%, 0.00% Floor
7.18
%
03/10/28
4,563,639
252,819
PointClickCare Technologies, Inc., Refi Term Loan B, 3 Mo. CME
Term SOFR + 2.75%, 0.00% Floor
7.08
%
11/03/31
253,926
3,479,295
Waystar Technologies, Inc., Term Loan B, 1 Mo. CME Term SOFR
+ 2.00%, 0.00% Floor
6.27
%
10/22/29
3,487,994
 
17,379,970
Home Furnishings – 0.2%
462,495
Restoration Hardware (RH), Term Loan B-2, 1 Mo. CME Term
SOFR + CSA + 3.25%, 0.50% Floor
7.67
%
10/20/28
449,693
Hotels, Resorts & Cruise Lines – 0.2%
124,644
Alterra Mountain Company, 2030 Term Loan, 1 Mo. CME Term
SOFR + 2.50%, 0.00% Floor
6.82
%
05/31/30
125,034
362,422
Alterra Mountain Company, Refi Term Loan B-6, 1 Mo. CME
Term SOFR + 2.50%, 0.00% Floor
6.82
%
08/17/28
363,329
 
488,363
First Trust Senior Floating Rate Income Fund II (FCT)
Portfolio of Investments (Continued)
August 31, 2025 (Unaudited)
Principal
Value
Description
Rate (a)
Stated
Maturity (b)
Value
SENIOR FLOATING-RATE LOAN INTERESTS (c) (Continued)
Human Resource & Employment Services – 0.2%
$702,518
HireRight (Genuine Financial Holdings LLC), Term Loan B, 1 Mo.
CME Term SOFR + 3.25%, 0.00% Floor
7.57
%
09/27/30
$662,373
Independent Power Producers & Energy Traders – 0.4%
697,087
Cornerstone Generation LLC, Term Loan B, 3 Mo. CME Term
SOFR + 3.25%, 0.00% Floor
7.48
%
08/11/32
702,664
250,886
Talen Energy Supply, Inc., Incremental Term Loan B, 3 Mo. CME
Term SOFR + 2.50%, 0.00% Floor
6.73
%
12/15/31
252,073
 
954,737
Industrial Machinery & Supplies & Components – 3.4%
244,509
BCP VI Summit Holdings, L.P. (Chemelex - f/k/a nVent), Refi
Term Loan B, 1 Mo. CME Term SOFR + 3.50%, 0.00% Floor
7.32
%
01/30/32
246,075
1,855,238
Filtration Group Corp., Term Loan B, 1 Mo. CME Term SOFR +
2.75%, 0.50% Floor
7.07
%
10/23/28
1,865,674
955,157
Madison IAQ LLC, 2025 Refi Term Loan B, 6 Mo. CME Term
SOFR + 2.75%, 0.50% Floor
6.70
%
06/21/28
957,707
2,992,981
Pro Mach Group, Inc., Refi Term Loan B, 1 Mo. CME Term SOFR
+ 2.75%, 1.00% Floor
7.07
%
08/31/28
3,004,789
1,067
Service Logic Acq, Inc. (MSHC), Term Loan B, 1 Mo. CME Term
SOFR + 3.00%, 0.75% Floor
7.32
%
10/29/27
1,071
423,468
Service Logic Acq, Inc. (MSHC), Term Loan B, 3 Mo. CME Term
SOFR + 3.00%, 0.75% Floor
7.31
%
10/29/27
425,056
1,936,034
SPX Flow, Inc., Term Loan B, 1 Mo. CME Term SOFR + 2.75%,
0.50% Floor
7.07
%
04/05/29
1,949,837
711,135
TK Elevator Newco GMBH (Vertical U.S. Newco, Inc.), Term
Loan B, 6 Mo. CME Term SOFR + 3.00%, 0.50% Floor
7.20
%
04/30/30
714,449
 
9,164,658
Insurance Brokers – 17.4%
1,280,245
Acrisure LLC, Term Loan B-6 2030, 1 Mo. CME Term SOFR +
3.00%, 0.00% Floor
7.32
%
11/06/30
1,281,250
6,432,432
Acrisure LLC, Term Loan B-7, 1 Mo. CME Term SOFR + 3.25%,
0.00% Floor
7.57
%
06/20/32
6,439,476
2,890,000
Alera Group, Inc., 1st Lien Term Loan B, 1 Mo. CME Term SOFR
+ 3.25%, 0.50% Floor
7.57
%
05/30/32
2,905,187
1,060,000
Alera Group, Inc., Second Lien Term Loan, 1 Mo. CME Term
SOFR + 5.50%, 0.50% Floor
9.82
%
05/30/33
1,101,738
125,537
Alliant Holdings I LLC, 2025 Term Loan B, 1 Mo. CME Term
SOFR + 2.50%, 0.00% Floor
6.82
%
09/19/31
125,403
1,712,692
Amwins Group, Inc., Term Loan B, 1 Mo. CME Term SOFR +
2.25%, 0.75% Floor
6.57
%
01/30/32
1,714,011
2,549,587
Ardonagh Midco 3 Ltd., Refi Term Loan B (USD), 3 Mo. CME
Term SOFR + 2.75%, 0.00% Floor
6.95%-7.05%
02/15/31
2,551,193
3,836,145
Baldwin Insurance Group Holdings LLC, Refi Term Loan, 1 Mo.
CME Term SOFR + 3.00%, 0.00% Floor
7.37
%
05/24/31
3,848,938
346,674
BroadStreet Partners, Inc., Refi Term Loan B-4, 1 Mo. CME Term
SOFR + 2.75%, 0.00% Floor
7.07
%
06/16/31
346,901
237,996
CFC Group Ltd., Term Loan B, 3 Mo. CME Term SOFR + 3.75%,
0.00% Floor
8.04
%
07/01/32
237,253
3,456,082
CRC Insurance Group (f/k/a Truist Insurance), Second Lien Term
Loan, 3 Mo. CME Term SOFR + 4.75%, 0.00% Floor
9.05
%
05/06/32
3,537,439
724,854
CRC Insurance Group (f/k/a Truist Insurance), Term Loan B, 3
Mo. CME Term SOFR + 2.75%, 0.00% Floor
7.05
%
05/06/31
726,894
First Trust Senior Floating Rate Income Fund II (FCT)
Portfolio of Investments (Continued)
August 31, 2025 (Unaudited)
Principal
Value
Description
Rate (a)
Stated
Maturity (b)
Value
SENIOR FLOATING-RATE LOAN INTERESTS (c) (Continued)
Insurance Brokers (Continued)
$971,998
Goosehead Insurance Holdings LLC, Refi Term Loan B, 1 Mo.
CME Term SOFR + 3.00%, 0.00% Floor
7.36
%
01/08/32
$978,073
3,494,818
Hub International Ltd., 2025 Refi Term Loan B, 3 Mo. CME Term
SOFR + 2.50%, 0.75% Floor
6.83
%
06/20/30
3,505,670
73,087
Hyperion Insurance Group Ltd. (aka - Howden Group), 2031
Maturity Refi Loan, 1 Mo. CME Term SOFR + 2.75%, 0.50%
Floor
7.07
%
02/18/31
73,191
5,159,094
Hyperion Insurance Group Ltd. (aka - Howden Group), Term Loan
B, 1 Mo. CME Term SOFR + 3.50%, 0.50% Floor
7.82
%
04/18/30
5,179,653
2,737,153
IMA Financial Group, Inc., Term Loan B, 1 Mo. CME Term SOFR
+ 3.00%, 0.50% Floor
7.32
%
11/01/28
2,743,996
374,063
Jones DesLauriers Insurance Management, Inc. (NavaCord), Term
Loan B, 3 Mo. CME Term SOFR + 2.75%, 0.00% Floor
7.06
%
03/15/30
372,584
2,192,875
OneDigital Borrower LLC, Second Lien Term Loan, 1 Mo. CME
Term SOFR + 5.25%, 0.50% Floor
9.57
%
07/02/32
2,221,656
1,452,136
OneDigital Borrower LLC, Term Loan B, 1 Mo. CME Term SOFR
+ 3.00%, 0.50% Floor
7.32
%
07/02/31
1,454,575
4,224,647
Ryan Specialty Group LLC, Term Loan B, 1 Mo. CME Term
SOFR + 2.25%, 0.00% Floor
6.32
%
09/13/31
4,242,602
1,605,715
Trucordia Insurance Holdings LLC, Term Loan B, 1 Mo. CME
Term SOFR + 3.25%, 0.00% Floor
7.57
%
06/17/32
1,614,755
304,462
USI, Inc., 2029 Term Loan D, 3 Mo. CME Term SOFR + 2.25%,
0.00% Floor
6.55
%
11/21/29
304,390
 
47,506,828
Interactive Media & Services – 1.4%
1,101,750
Twitter, Inc. (X Corp.), Fixed Rate Term Loan B-3
9.50
%
10/29/29
1,084,827
2,715,862
Twitter, Inc. (X Corp.), Term Loan B-1, 3 Mo. CME Term SOFR +
CSA + 6.50%, 0.50% Floor
10.96
%
10/26/29
2,658,639
 
3,743,466
Internet Services & Infrastructure – 1.6%
4,475,988
Sedgwick Claims Management Services, Inc., Term Loan B, 1 Mo.
CME Term SOFR + 3.00%, 0.00% Floor
6.82
%
07/31/31
4,493,243
IT Consulting & Other Services – 3.1%
2,910,471
Gainwell Acquisition Corp. (f/k/a Milano), Term Loan B, 3 Mo.
CME Term SOFR + CSA + 4.00%, 0.75% Floor
8.40
%
10/01/27
2,868,997
5,659,810
Informatica Corp., 2024 Refi Term Loan B, 1 Mo. CME Term
SOFR + 2.25%, 0.00% Floor
6.57
%
10/30/28
5,677,497
 
8,546,494
Leisure Facilities – 0.1%
361,681
Herschend Entertainment Company LLC, Term Loan B, 1 Mo.
CME Term SOFR + 3.25%, 0.00% Floor
7.57
%
05/27/32
364,639
161
Life Time Fitness, Inc., Term Loan B, 1 Mo. CME Term SOFR +
2.00%, 0.00% Floor
6.36
%
11/05/31
161
 
364,800
Life Sciences Tools & Services – 1.7%
2,202,436
Parexel International Corp. (Phoenix Newco), 2025 Refi Term
Loan, 1 Mo. CME Term SOFR + 2.50%, 0.50% Floor
6.82
%
11/15/28
2,207,028
2,436,063
Syneos Health, Inc. (Star Parent), Term Loan B, 3 Mo. CME Term
SOFR + 4.00%, 0.00% Floor
8.30
%
09/30/30
2,425,101
First Trust Senior Floating Rate Income Fund II (FCT)
Portfolio of Investments (Continued)
August 31, 2025 (Unaudited)
Principal
Value
Description
Rate (a)
Stated
Maturity (b)
Value
SENIOR FLOATING-RATE LOAN INTERESTS (c) (Continued)
Life Sciences Tools & Services (Continued)
$117,937
WCG Intermediate Corp. (WIRB-Copernicus Group), Term Loan
B, 1 Mo. CME Term SOFR + 3.00%, 0.00% Floor
7.32
%
02/28/32
$118,001
 
4,750,130
Managed Health Care – 0.2%
228,092
MedRisk (Bella Holding Company LLC), Term Loan B, 1 Mo.
CME Term SOFR + 3.25%, 0.75% Floor
7.32
%
05/10/28
228,805
372,762
MyEyeDr. (MED ParentCo, L.P.), Term Loan B, 1 Mo. CME Term
SOFR + 3.25%, 0.00% Floor
7.57
%
04/15/31
374,422
 
603,227
Metal, Glass & Plastic Containers – 1.1%
884,818
Magnera Corp. (Treasure Escrow/Glatfelter), Term Loan B, 3 Mo.
CME Term SOFR + 4.25%, 0.00% Floor
8.45
%
11/04/31
882,977
849,846
ProAmpac PG Borrower LLC, 2024 Refi Term Loan B, 3 Mo.
CME Term SOFR + 4.00%, 0.75% Floor
8.19%-8.32%
09/15/28
851,545
1,179,470
Tekni-Plex (Trident TPI Holdings, Inc.), Term Loan B7, 3 Mo.
CME Term SOFR + 3.75%, 0.50% Floor
8.05
%
09/18/28
1,131,661
 
2,866,183
Movies & Entertainment – 0.4%
994,484
TKO Group Holdings, Inc. (UFC), Term Loan B-4, 3 Mo. CME
Term SOFR + 2.25%, 0.00% Floor
6.46
%
11/21/31
998,308
Office Services & Supplies – 0.2%
578,515
Shift4 Payments LLC (Harbortouch), Term Loan B, 2 Mo. CME
Term SOFR + 2.75%, 0.00% Floor
7.05
%
07/03/32
584,182
Oil & Gas Storage & Transportation – 0.0%
62,600
BCP Renaissance Parent LLC, Term Loan B, 3 Mo. CME Term
SOFR + 3.00%, 1.00% Floor
6.80
%
10/31/28
62,700
Other Diversified Financial Services – 1.1%
3,076,525
Gen II Fund Services (PEX Holdings LLC), Term Loan B, 3 Mo.
CME Term SOFR + 2.75%, 0.00% Floor
6.97
%
11/19/31
3,082,924
Other Specialty Retail – 1.4%
1,574,540
Bass Pro Group LLC (Great Outdoors Group LLC), Term Loan
B-3, 1 Mo. CME Term SOFR + 3.25%, 0.75% Floor
7.57
%
01/23/32
1,581,035
2,189,725
Petco Health and Wellness Company, Inc., Initial Term Loan B, 3
Mo. CME Term SOFR + CSA + 3.25%, 0.75% Floor
7.81
%
03/04/28
2,120,847
 
3,701,882
Packaged Foods & Meats – 2.7%
1,874,732
Froneri International Ltd., Incremental USD TL B-6, 1 Mo. CME
Term SOFR + 2.50%, 0.00% Floor
6.77
%
07/31/32
1,873,917
1,341,317
Nomad Foods Ltd., Term Loan B-5, 6 Mo. CME Term SOFR +
2.50%, 0.50% Floor
6.54
%
11/08/29
1,345,180
522,243
Sauer Brands, Inc. (Savor Acquisition Inc.), Term Loan B, 1 Mo.
CME Term SOFR + 3.25%, 0.00% Floor
7.32
%
02/19/32
525,572
1,432,693
Shearer’s Foods LLC (Fiesta Purchaser, Inc.), Term Loan B, 1 Mo.
CME Term SOFR + 2.75%, 0.00% Floor
7.07
%
02/12/31
1,434,148
2,264,511
Utz Quality Foods LLC, Term Loan B, 1 Mo. CME Term SOFR +
2.50%, 0.00% Floor
6.82
%
01/31/32
2,269,889
 
7,448,706
First Trust Senior Floating Rate Income Fund II (FCT)
Portfolio of Investments (Continued)
August 31, 2025 (Unaudited)
Principal
Value
Description
Rate (a)
Stated
Maturity (b)
Value
SENIOR FLOATING-RATE LOAN INTERESTS (c) (Continued)
Paper & Plastic Packaging Products & Materials – 1.8%
$3,990,231
Graham Packaging Company, L.P., 2024 Refi Term Loan B, 1 Mo.
CME Term SOFR + 2.50%, 0.00% Floor
6.82
%
08/04/27
$3,997,533
838,018
Novolex (Clydesdale Acq. Holdings, Inc.), Term Loan B, 1 Mo.
CME Term SOFR + 3.25%, 0.00% Floor
7.57
%
03/31/32
838,131
 
4,835,664
Passenger Airlines – 0.9%
2,000,000
American Airlines, Inc., Term Loan B 2027, 6 Mo. CME Term
SOFR + CSA + 1.75%, 0.00% Floor
5.98
%
01/29/27
1,991,040
346,241
American Airlines, Inc. (AAdvantage Loyalty IP Ltd.), 2032 Term
Loan, 3 Mo. CME Term SOFR + 3.25%, 0.00% Floor
7.58
%
05/31/32
348,514
 
2,339,554
Passenger Ground Transportation – 0.4%
525,735
First Student Bidco, Inc., Term Loan B, 3 Mo. CME Term SOFR +
2.50%, 0.00% Floor
6.71
%
07/21/30
526,852
96,054
First Student Bidco, Inc., Term Loan C, 3 Mo. CME Term SOFR +
2.50%, 0.00% Floor
6.71
%
07/21/30
96,219
457,127
Student Transportation of America Holdings, Inc., Term Loan B, 3
Mo. CME Term SOFR + 3.25%, 0.00% Floor
7.57
%
06/24/32
459,486
 
1,082,557
Pharmaceuticals – 0.4%
1,110,754
Dechra Finance US LLC, USD Facility B1, 6 Mo. CME Term
SOFR + 3.25%, 0.00% Floor
7.45
%
01/27/32
1,115,614
Research & Consulting Services – 6.2%
1,215,632
Acuren Holdings, Inc. (Acuren Delaware), Term Loan B, 1 Mo.
CME Term SOFR + 2.75%, 0.00% Floor
7.07
%
07/30/31
1,219,619
3,258,509
AlixPartners, LLP, 2025 Term Loan B, 1 Mo. CME Term SOFR +
2.00%, 0.00% Floor
6.32
%
08/12/32
3,250,021
697,864
AmSpec Parent LLC, Refi Term Loan B, 3 Mo. CME Term SOFR
+ 3.50%, 0.00% Floor
7.80
%
12/22/31
703,206
6,094,866
Clarivate Analytics PLC (Camelot), 2024 Term Loan B, 1 Mo.
CME Term SOFR + 2.75%, 0.00% Floor
7.07
%
01/31/31
6,066,677
423,863
Eisner Advisory Group LLC, Term Loan B, 1 Mo. CME Term
SOFR + 4.00%, 0.50% Floor
8.32
%
02/28/31
427,086
3,418,827
Grant Thornton Advisors LLC, Term Loan B, 1 Mo. CME Term
SOFR + 2.50%, 0.00% Floor
6.82
%
05/30/31
3,415,630
838,153
Ryan LLC, Term Loan B, 1 Mo. CME Term SOFR + 3.50%,
0.50% Floor
7.82
%
11/14/30
841,385
1,045,247
Veritext Corp. (VT TopCo, Inc.), Refi Term Loan, 1 Mo. CME
Term SOFR + 3.00%, 0.50% Floor
7.36
%
08/12/30
1,047,369
 
16,970,993
Restaurants – 4.4%
6,820,301
IRB Holding Corp. (Arby’s/Inspire Brands), Term Loan B, 1 Mo.
CME Term SOFR + 2.50%, 0.75% Floor
6.82
%
12/15/27
6,822,450
5,135,249
Whatabrands LLC, Term Loan B, 1 Mo. CME Term SOFR +
2.50%, 0.50% Floor
6.82
%
08/03/28
5,142,053
 
11,964,503
Security & Alarm Services – 0.9%
2,585,785
Garda World Security Corp., Refi Term Loan B, 1 Mo. CME Term
SOFR + 3.00%, 0.00% Floor
7.36
%
02/01/29
2,589,986
First Trust Senior Floating Rate Income Fund II (FCT)
Portfolio of Investments (Continued)
August 31, 2025 (Unaudited)
Principal
Value
Description
Rate (a)
Stated
Maturity (b)
Value
SENIOR FLOATING-RATE LOAN INTERESTS (c) (Continued)
Semiconductor Materials & Equipment – 0.5%
$1,457,684
Altera (Gryphon Debt Merger Sub, Inc./Acquire Newco), Term
Loan B, 1 Mo. CME Term SOFR + 3.00%, 0.00% Floor
7.27
%
09/30/32
$1,465,431
Soft Drinks & Non-alcoholic Beverages – 0.9%
1,012,912
Celsius Holdings, Inc., Term Loan B, 3 Mo. CME Term SOFR +
3.25%, 0.00% Floor
7.54
%
03/31/32
1,023,148
1,559,602
Primo Brands Corp., Term Loan B, 3 Mo. CME Term SOFR +
2.25%, 0.50% Floor
6.55
%
03/31/28
1,563,337
 
2,586,485
Specialized Consumer Services – 1.8%
2,626,055
Belron Finance US LLC, Refi Term Loan, 3 Mo. CME Term
SOFR + 2.50%, 0.50% Floor
6.74
%
10/16/31
2,642,139
228,525
Caliber Collision (Wand NewCo 3, Inc.), 2025 Refi Term Loan B,
1 Mo. CME Term SOFR + 2.50%, 0.00% Floor
6.82
%
01/30/31
228,340
1,766,757
Mister Car Wash Holdings, Inc., Term Loan B, 1 Mo. CME Term
SOFR + 2.75%, 0.00% Floor
6.82
%
03/27/31
1,772,437
373,062
Wash MultiFamily Acquisition, Inc., Term Loan B, 1 Mo. CME
Term SOFR + 3.25%, 0.00% Floor
7.52
%
08/15/32
374,346
 
5,017,262
Specialized Finance – 0.1%
373,944
Colonial First State (Superannuation and Investments US LLC),
Term Loan B, 1 Mo. CME Term SOFR + 3.00%, 0.50% Floor
7.32
%
12/01/28
375,191
Systems Software – 3.8%
2,645,818
Idera, Inc. (Flash Charm), 2024 Refi Term Loan, 3 Mo. CME Term
SOFR + 3.50%, 0.75% Floor
7.80
%
03/02/28
2,463,918
320,701
Idera, Inc. (Flash Charm), Second Lien Term Loan, 3 Mo. CME
Term SOFR + 6.75%, 0.75% Floor
11.20
%
03/02/29
275,535
1,456,532
Kaseya, Inc., First Lien Term Loan, 1 Mo. CME Term SOFR +
3.25%, 0.00% Floor
7.57
%
03/20/32
1,461,288
59,472
Kaseya, Inc., Second Lien Term Loan, 1 Mo. CME Term SOFR +
5.00%, 0.00% Floor
9.32
%
03/20/33
59,751
1,413,000
KnowBe4, Inc., Term Loan B, 3 Mo. CME Term SOFR + 3.75%,
0.00% Floor
8.07
%
07/26/32
1,420,065
3,903,751
Proofpoint, Inc., 2024 Refi Term Loan, 1 Mo. CME Term SOFR +
3.00%, 0.50% Floor
7.32
%
08/31/28
3,932,209
302,362
Proofpoint, Inc., Incr Term Loan, 1 Mo. CME Term SOFR +
3.00%, 0.50% Floor
7.32
%
08/31/28
304,566
162,964
SS&C Technologies Holdings, Inc., Term Loan B8, 1 Mo. CME
Term SOFR + 2.00%, 0.00% Floor
6.32
%
05/09/31
163,458
405,808
SUSE (Marcel Bidco LLC), Refi Term Loan B9, Daily CME Term
SOFR + 3.00%, 0.50% Floor
7.29%-7.40%
11/13/30
407,330
 
10,488,120
Trading Companies & Distributors – 3.7%
812,263
Aggreko Holdings, Inc. (Albion), Extended Term Loan B, 3 Mo.
CME Term SOFR + 3.00%, 0.50% Floor
7.21
%
05/25/31
816,324
627,684
Azorra Aviation (Azorra Finance Ltd.), Term Loan B, 1 Mo. CME
Term SOFR + 2.75%, 0.00% Floor
7.00
%
10/18/29
631,218
1,354
Foundation Building Materials, Inc., Term Loan B, 1 Mo. CME
Term SOFR + CSA + 3.25%, 0.50% Floor
7.68
%
01/31/28
1,359
518,646
Foundation Building Materials, Inc., Term Loan B, 3 Mo. CME
Term SOFR + CSA + 3.25%, 0.50% Floor
7.82
%
01/31/28
520,643
First Trust Senior Floating Rate Income Fund II (FCT)
Portfolio of Investments (Continued)
August 31, 2025 (Unaudited)
Principal
Value
Description
Rate (a)
Stated
Maturity (b)
Value
SENIOR FLOATING-RATE LOAN INTERESTS (c) (Continued)
Trading Companies & Distributors (Continued)
$803
Foundation Building Materials, Inc., Term Loan B2, 1 Mo. CME
Term SOFR + 4.00%, 0.00% Floor
8.32
%
01/29/31
$807
316,265
Foundation Building Materials, Inc., Term Loan B2, 6 Mo. CME
Term SOFR + 4.00%, 0.00% Floor
8.31
%
01/29/31
317,886
1,104,773
QXO/Beacon Roofing (Queen Mergerco), Term Loan B, 3 Mo.
CME Term SOFR + 3.00%, 0.00% Floor
7.30
%
04/30/32
1,115,876
878,152
US LBM Holdings, Term Loan, 1 Mo. CME Term SOFR + 5.00%,
0.75% Floor
9.36
%
06/06/31
872,224
2,298,176
Veritiv Corp. (Verde Purchaser LLC), Term Loan B, 3 Mo. CME
Term SOFR + 5.00%, 0.00% Floor
8.30
%
11/29/30
2,275,826
1,592,415
VistaJet Malta Finance PLC, Term Loan B, 3 Mo. CME Term
SOFR + 3.75%, 0.00% Floor
8.04
%
03/31/31
1,604,358
1,888,676
White Cap Supply Holdings LLC, Term Loan B, 1 Mo. CME Term
SOFR + 3.25%, 0.00% Floor
7.57
%
10/29/29
1,891,906
 
10,048,427
Transaction & Payment Processing Services – 0.7%
1,845,291
Worldpay (GTCR W Merger Sub LLC/Boost Newco LLC), Term
Loan B, 3 Mo. CME Term SOFR + 2.00%, 0.00% Floor
6.30
%
01/31/31
1,849,443
Total Senior Floating-Rate Loan Interests
328,089,532
(Cost $328,948,625)
Principal
Value
Description
Stated
Coupon
Stated
Maturity
Value
CORPORATE BONDS AND NOTES (c) – 1.9%
Application Software – 0.2%
366,000
Cloud Software Group, Inc. (e)
6.63
%
08/15/33
371,372
238,000
GoTo Group, Inc. (d) (e)
5.50
%
05/01/28
81,515
 
452,887
Broadcasting – 0.4%
1,493,550
iHeartCommunications, Inc. (e)
7.75
%
08/15/30
1,190,666
Cable & Satellite – 0.6%
1,462,000
DISH Network Corp. (e)
11.75
%
11/15/27
1,546,640
Insurance Brokers – 0.5%
1,247,000
Panther Escrow Issuer LLC (e)
7.13
%
06/01/31
1,294,904
Life Sciences Tools & Services – 0.0%
137,000
Star Parent, Inc. (e)
9.00
%
10/01/30
145,206
Metal, Glass & Plastic Containers – 0.1%
250,000
Magnera Corp. (e)
4.75
%
11/15/29
220,971
Other Specialty Retail – 0.1%
317,000
PetSmart LLC/PetSmart Finance Corp. (e)
7.50
%
09/15/32
314,502
Total Corporate Bonds and Notes
5,165,776
(Cost $5,220,625)
FOREIGN CORPORATE BONDS AND NOTES (c) – 0.1%
Metal, Glass & Plastic Containers – 0.1%
410,000
Trivium Packaging Finance B,V. (e)
8.25
%
07/15/30
435,861
(Cost $414,026)
 
First Trust Senior Floating Rate Income Fund II (FCT)
Portfolio of Investments (Continued)
August 31, 2025 (Unaudited)
Shares
Description
Value
COMMON STOCKS – 0.0%
Pharmaceuticals – 0.0%
150,392
Akorn, Inc. (f) (g) (h)
$6,016
(Cost $1,724,086)
RIGHTS – 0.0%
Life Sciences Tools & Services – 0.0%
1
New Millennium Holdco, Inc., Corporate Claim Trust, no expiration date (h) (i) (j) (k)
0
1
New Millennium Holdco, Inc., Lender Claim Trust, no expiration date (h) (i) (j) (k)
0
Total Rights
0
(Cost $0)
MONEY MARKET FUNDS (c) – 0.8%
1,991,553
Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio - Institutional Class - 4.13% (l)
1,991,553
(Cost $1,991,553)
Total Investments – 123.1%
335,688,738
(Cost $338,298,915)
Outstanding Loans – (19.8)%
(54,000,000
)
Net Other Assets and Liabilities – (3.3)%
(8,907,976
)
Net Assets – 100.0%
$272,780,762
 
(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 SOFR obtained
from the U.S. Department of the Treasury’s Office of Financial Research or another major financial institution, (ii) the lending
rate offered by one or more major European banks, (iii) the prime rate offered by one or more United States banks or (iv) the
certificate of deposit rate. Certain Senior Loans are subject to a SOFR floor that establishes a minimum SOFR rate. When a range
of rates is disclosed, the Fund holds more than one contract within the same tranche with identical SOFR period, spread and floor,
but different SOFR 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 or a portion of these securities serve as collateral for the outstanding loan unless otherwise indicated. At August 31, 2025, the
segregated value of these securities amounts to $334,876,624.
(d)
This security does not serve as collateral for the outstanding loan.
(e)
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. 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, 2025, securities noted as such amounted to $5,601,637 or 2.0% of
net assets.
(f)
This issuer has filed for protection in bankruptcy court.
(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 (see Restricted Securities table).
(h)
Non-income producing security.
(i)
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
August 31, 2025, securities noted as such are valued at $0 or 0.0% of net assets.
(j)
Pursuant to procedures adopted by the Fund’s Board of Trustees, this security has been determined to be illiquid by the Advisor.
(k)
This security’s value was determined using significant unobservable inputs (see Valuation Inputs section).
(l)
Rate shown reflects yield as of August 31, 2025.
 
Abbreviations throughout the Portfolio of Investments:
CME
– Chicago Mercantile Exchange
CSA
– Credit Spread Adjustment
SOFR
– Secured Overnight Financing Rate
USD
– United States Dollar
First Trust Senior Floating Rate Income Fund II (FCT)
Portfolio of Investments (Continued)
August 31, 2025 (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 August 31, 2025 is as follows: 
 
Total
Value at
8/31/2025
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Senior Floating-Rate Loan Interests*
$328,089,532
$—
$328,089,532
$—
Corporate Bonds and Notes*
5,165,776
—
5,165,776
—
Foreign Corporate Bonds and Notes*
435,861
—
435,861
—
Common Stocks*
6,016
—
6,016
—
Rights*
—
**
—
—
—
**
Money Market Funds
1,991,553
1,991,553
—
—
Total Investments
$335,688,738
$1,991,553
$333,697,185
$—
**
 
*
See Portfolio of Investments for industry breakout.
**
Investments are valued at $0.
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.
First Trust Senior Floating Rate Income Fund II (FCT)
Portfolio of Investments (Continued)
August 31, 2025 (Unaudited)
Unfunded Loan Commitments
As of August 31, 2025, the Fund had the following unfunded loan commitments, which are categorized as Level 2 within the fair value hierarchy:  
Borrower
Principal Value
Commitment
Amount
Value
Unrealized
Appreciation
(Depreciation)
Alter Domus (Chrysaor Bidco SARL), Term Loan
$ 104,083
$ 104,604
$ 104,734
$ 130
AmSpec Parent LLC, Term Loan
107,364
107,364
108,186
822
Azuria Water Solutions (f/k/a Aegion Corp.), Term Loan
23,466
23,248
23,543
295
Hanger, Inc., Term Loan
72,818
72,489
73,061
572
Novolex (Clydesdale Acq. Holdings LLC), Term Loan
14,651
14,651
14,653
2
R1 RCM, Inc. (Raven Acq. Holdings, Inc.), Term Loan
172,757
172,737
173,405
668
Sauer Brands, Inc. (Savor Acquisition), Inc.), Term Loan
49,268
49,435
49,582
147
Signia Aerospace LLC, Term Loan
47,859
47,859
48,068
209
Student Transportation of America Holdings, Inc., Term Loan
32,652
32,490
32,820
330
 
$624,877
$628,052
3,175
Restricted Securities
As of August 31, 2025, the Fund held a restricted security as shown in the following table that the Advisor deemed illiquid pursuant to procedures adopted by the Fund’s Board of Trustees: 
Security
Acquisition
Date
Shares
Current Price
Carrying
Cost
Value
% of
Net
Assets
Akorn, Inc.
10/15/2020
150,392
$0.04
$1,724,086
$6,016
0.00
%*
* Amount is less than 0.01%.