First Trust Senior Floating Rate Income Fund II (FCT)
Portfolio of Investments
August 31, 2024 (Unaudited)
 
Principal
Value
Description
Rate (a)
Stated
Maturity (b)
Value
SENIOR FLOATING-RATE LOAN INTERESTS (c) – 108.8%
Aerospace & Defense – 1.7%
$398,647
Transdigm, Inc., Term Loan J, 3 Mo. CME Term SOFR + 2.50%,
0.00% Floor
7.84
%
02/28/31
$399,546
4,340,944
Transdigm, Inc., Term Loan K, 3 Mo. CME Term SOFR + 2.75%,
0.00% Floor
8.08
%
03/22/30
4,363,409
 
4,762,955
Alternative Carriers – 0.8%
2,272,020
Level 3 Financing, Inc., Term Loan B1, 1 Mo. CME Term SOFR +
6.56%, 2.00% Floor
11.84
%
04/16/29
2,292,377
Application Software – 18.7%
621,303
Applied Systems, Inc., Term Loan B, 1 Mo. CME Term SOFR +
3.00%, 0.00% Floor
8.29
%
02/24/31
624,875
7,118,083
CCC Intelligent Solutions, Inc., Term Loan B, 1 Mo. CME Term
SOFR + CSA + 2.25%, 0.50% Floor
7.61
%
09/21/28
7,133,636
610,164
ConnectWise LLC, Term Loan B, 3 Mo. CME Term SOFR + CSA
+ 3.50%, 0.50% Floor
9.10
%
09/30/28
611,787
3,677,127
Darktrace PLC (Leia Finco US LLC), Term Loan B, 1 Mo. CME
Term SOFR + 3.25%, 0.00% Floor
8.45
%
09/30/31
3,650,321
3,065,371
Epicor Software Corp., Term Loan E, 1 Mo. CME Term SOFR +
3.25%, 0.75% Floor
8.50
%
05/30/31
3,081,142
4,807,735
Gainwell Acquisition Corp. (f/k/a Milano), Term Loan B, 3 Mo.
CME Term SOFR + CSA + 4.00%, 0.75% Floor
9.43
%
10/01/27
4,387,058
1,070,780
Genesys Cloud Services Holding II LLC (f/k/a Greeneden), 2024
Incremental Term Loan, 1 Mo. CME Term SOFR + CSA +
3.75%, 0.75% Floor
9.11
%
12/01/27
1,077,740
3,056,840
Genesys Cloud Services Holding II LLC (f/k/a Greeneden), Term
Loan B, 1 Mo. CME Term SOFR + 3.50%, 0.75% Floor
8.75
%
12/01/27
3,073,607
5,483,067
Informatica Corp., 2024 Refi Term Loan B, 1 Mo. CME Term
SOFR + 2.25%, 0.00% Floor
7.50
%
10/30/28
5,506,206
1,805,535
Internet Brands, Inc. (Web MD/MH Sub I. LLC), 2023 New Term
Loan B, 1 Mo. CME Term SOFR + 4.25%, 0.50% Floor
9.50
%
05/03/28
1,803,179
1,265,863
Internet Brands, Inc. (Web MD/MH Sub I. LLC), Second Lien
Term Loan, 3 Mo. CME Term SOFR + 6.25%, 0.00% Floor
11.50
%
02/23/29
1,248,591
133,046
Ivanti Software, Inc., Term Loan B, 3 Mo. CME Term SOFR +
CSA + 4.25%, 0.75% Floor
9.83
%
12/01/27
115,474
2,256,530
LogMeIn, Inc. (GoTo Group, Inc.), First Lien First Out TL, 1 Mo.
CME Term SOFR + CSA + 4.75%, 0.00% Floor
10.14
%
04/30/28
1,925,113
2,011,157
LogMeIn, Inc. (GoTo Group, Inc.), First Lien Second Out TL, 1
Mo. CME Term SOFR + CSA + 4.75%, 0.00% Floor (d)
10.14
%
04/30/28
813,081
1,915,806
McAfee Corp. (Condor Merger Sub, Inc.), Term Loan B, 1 Mo.
CME Term SOFR + 3.25%, 0.50% Floor
8.59
%
03/01/29
1,913,104
354,790
N-Able, Inc., Term Loan B, 3 Mo. CME Term SOFR + CSA +
2.75%, 0.50% Floor
8.07
%
07/19/28
355,677
1,296,771
Open Text Corp. (GXS), 2024 Term Loan B, 1 Mo. CME Term
SOFR + 2.25%, 0.50% Floor
7.50
%
01/31/30
1,304,876
616,540
PowerSchool Holdings, Inc. (Severin), Extended Term Loan, 3 Mo.
CME Term SOFR + 3.25%, 0.00% Floor
8.25
%
08/01/27
618,158
1,016,094
Qlik Technologies (Project Alpha Intermediate Holding, Inc.), 2024
Refi Term Loan B, 3 Mo. CME Term SOFR + 3.75%, 0.50%
Floor
9.00
%
10/28/30
1,022,444
131,278
RealPage, Inc., Term Loan B, 1 Mo. CME Term SOFR + CSA +
3.00%, 0.50% Floor
8.36
%
04/24/28
126,164
3,050,397
SolarWinds Holdings, Inc., Term Loan B, 1 Mo. CME Term SOFR
+ 2.75%, 0.00% Floor
8.00
%
02/05/30
3,060,692
First Trust Senior Floating Rate Income Fund II (FCT)
Portfolio of Investments (Continued)
August 31, 2024 (Unaudited)
Principal
Value
Description
Rate (a)
Stated
Maturity (b)
Value
SENIOR FLOATING-RATE LOAN INTERESTS (c) (Continued)
Application Software (Continued)
$2,050,357
Solera Holdings, Inc. (Polaris Newco), Term Loan B, 3 Mo. CME
Term SOFR + CSA + 4.00%, 0.50% Floor
9.51
%
06/04/28
$2,037,932
3,323,767
Ultimate Kronos Group (UKG, Inc.), 2024 Term Loan B, 3 Mo.
CME Term SOFR + 3.25%, 0.00% Floor
8.55
%
02/10/31
3,335,267
4,055,721
Veeam Software Holdings Ltd. (VS Buyer LLC), 2024 Initial Term
Loan, 1 Mo. CME Term SOFR + 3.25%, 0.00% Floor
8.59
%
04/01/31
4,069,246
 
52,895,370
Asset Management & Custody Banks – 2.7%
475,041
Alter Domus (Chrysaor Bidco SARL), Term Loan B, 1 Mo. CME
Term SOFR + 3.50%, 0.50% Floor
8.70
%
10/15/31
477,269
244,685
Assetmark Financial Holdings (GTCR Everest Borrower LLC),
Term Loan B, 1 Mo. CME Term SOFR + 3.00%, 0.00% Floor
8.17
%
09/30/31
243,640
3,529,689
Edelman Financial Engines Center LLC, Second Lien Term Loan,
1 Mo. CME Term SOFR + 5.25%, 0.00% Floor
10.50
%
10/06/28
3,526,159
3,280,784
Edelman Financial Engines Center LLC, Term Loan B, 1 Mo.
CME Term SOFR + 3.25%, 0.00% Floor
8.50
%
04/07/28
3,288,232
 
7,535,300
Automotive Parts & Equipment – 1.4%
2,023,683
Caliber Collision (Wand NewCo 3, Inc.), 2024 Refi Term Loan B,
1 Mo. CME Term SOFR + 3.25%, 0.00% Floor
8.50
%
01/30/31
2,028,954
2,000,000
Clarios Global, L.P. (Power Solutions), Term Loan B, 1 Mo. CME
Term SOFR + 2.50%, 0.00% Floor
7.75
%
05/06/30
2,008,540
 
4,037,494
Automotive Retail – 1.8%
619,719
Highline Aftermarket Acquisition LLC, Term Loan B, 1 Mo. CME
Term SOFR + 4.00%, 0.75% Floor
9.25
%
11/09/27
624,175
1,748,779
Les Schwab Tire Centers (LS Group OpCo Acq. LLC), Term B
Loan, 1 Mo. CME Term SOFR + 3.00%, 0.00% Floor
8.25
%
04/23/31
1,752,425
2,723,292
Mavis Tire Express Services Topco Corp., Term Loan B, 1 Mo.
CME Term SOFR + 3.50%, 0.75% Floor
8.75
%
05/04/28
2,729,815
 
5,106,415
Broadcasting – 1.3%
3,582,309
Nexstar Media, Inc., Incremental Term Loan B-4, 1 Mo. CME
Term SOFR + CSA + 2.50%, 0.00% Floor
7.86
%
09/19/26
3,591,516
Broadline Retail – 0.8%
2,216,457
Peer Holding III B.V. (Action Holding), USD Term Loan B5, 3
Mo. CME Term SOFR + 3.00%, 0.00% Floor
8.33
%
07/01/31
2,226,619
Building Products – 0.1%
260,176
Hunter Douglas, Inc. (Solis), Term Loan B, 3 Mo. CME Term
SOFR + 3.50%, 0.50% Floor
8.57
%
02/25/29
259,363
134,431
Miter Brands Acq. Holdco, Inc. (MIWD), 2024 Incremental Term
Loan, 1 Mo. CME Term SOFR + 3.50%, 0.00% Floor
8.75
%
03/31/31
135,253
 
394,616
Cable & Satellite – 0.1%
387,433
Charter Communications Operating LLC, Term Loan B4, 3 Mo.
CME Term SOFR + 2.00%, 0.00% Floor
7.33
%
12/07/30
385,883
First Trust Senior Floating Rate Income Fund II (FCT)
Portfolio of Investments (Continued)
August 31, 2024 (Unaudited)
Principal
Value
Description
Rate (a)
Stated
Maturity (b)
Value
SENIOR FLOATING-RATE LOAN INTERESTS (c) (Continued)
Casinos & Gaming – 0.8%
$675,804
Caesars Entertainment, Inc. (f/k/a Eldorado Resorts), 2024 Term
Loan B-1, 1 Mo. CME Term SOFR + 2.75%, 0.50% Floor
8.00
%
02/06/31
$677,304
1,406,915
Golden Nugget, Inc. (Fertitta Entertainment LLC), 2024 Refi Term
Loan, 1 Mo. CME Term SOFR + 3.75%, 0.50% Floor
9.09
%
01/29/29
1,406,550
214,148
Scientific Games Holdings, L.P. (Scientific Games Lottery), 2024
Refi Term Loan B, 3 Mo. CME Term SOFR + 3.00%, 0.50%
Floor
8.30
%
04/04/29
213,560
 
2,297,414
Commercial Printing – 1.2%
3,457,231
Multi-Color Corp. (LABL, Inc.), Initial Dollar Term Loan, 1 Mo.
CME Term SOFR + CSA + 5.00%, 0.50% Floor
10.35
%
10/29/28
3,328,673
Construction & Engineering – 0.3%
506,848
APi Group DE, Inc., Term Loan B, 1 Mo. CME Term SOFR +
2.00%, 0.00% Floor
7.25
%
01/03/29
508,363
370,980
ASP Acuren Holdings, Inc. (AAL Delaware), Term Loan B, 1 Mo.
CME Term SOFR + 3.50%, 0.00% Floor
8.75
%
07/31/31
373,010
 
881,373
Diversified Support Services – 0.6%
1,637,541
Consilio (Skopima Consilio Parent LLC), Initial Term Loan, 1 Mo.
CME Term SOFR + CSA + 4.00%, 0.50% Floor
9.36
%
05/17/28
1,638,670
Education Services – 1.2%
3,390,333
Ascensus Holdings, Inc. (Mercury), First Lien Term Loan, 1 Mo.
CME Term SOFR + CSA + 3.50%, 0.50% Floor
8.86
%
08/02/28
3,404,454
Electronic Equipment & Instruments – 0.7%
1,343,921
Chamberlain Group, Inc. (Chariot), Term Loan B, 1 Mo. CME
Term SOFR + CSA + 3.25%, 0.50% Floor
8.60
%
11/03/28
1,344,553
854,228
Verifone Systems, Inc., Term Loan B, 3 Mo. CME Term SOFR +
CSA + 4.00%, 0.00% Floor
9.33
%
08/20/25
775,746
 
2,120,299
Environmental & Facilities Services – 2.0%
2,438,350
Allied Universal Holdco LLC, Initial Term Loan, 1 Mo. CME
Term SOFR + CSA + 3.75%, 0.50% Floor
9.10
%
05/14/28
2,426,768
3,306,169
GFL Environmental, Inc.(Wrangler Holdco Corp.), 2024 Refi Term
Loan, 3 Mo. CME Term SOFR + 2.00%, 0.50% Floor
7.32
%
06/30/31
3,312,963
 
5,739,731
Food Distributors – 0.3%
805,681
US Foods, Inc., Incremental B-2019 Term Loan, 1 Mo. CME Term
SOFR + CSA + 2.00%, 0.00% Floor
7.36
%
09/13/26
809,669
Health Care Facilities – 2.9%
2,514,815
Ardent Health Services, Inc. (AHP Health Partners, Inc.), Term
Loan B, 1 Mo. CME Term SOFR + CSA + 3.25%, 0.50% Floor
8.61
%
08/24/28
2,530,219
611,756
Concentra Health Services, Inc., Term Loan B, 1 Mo. CME Term
SOFR + 2.25%, 0.00% Floor
7.50
%
07/31/31
614,815
1,446,683
IVC Evidensia (VetStrategy Canada/IVC Acquisition Midco Ltd.),
Facility B10, 3 Mo. CME Term SOFR + 4.75%, 0.50% Floor
10.08
%
12/06/28
1,448,195
247,321
Mission Veterinary Partners (a/k/a Midwest Veterinary Partners
LLC), Term Loan B, 1 Mo. CME Term SOFR + 3.75%, 0.75%
Floor
8.87
%
04/27/28
248,464
First Trust Senior Floating Rate Income Fund II (FCT)
Portfolio of Investments (Continued)
August 31, 2024 (Unaudited)
Principal
Value
Description
Rate (a)
Stated
Maturity (b)
Value
SENIOR FLOATING-RATE LOAN INTERESTS (c) (Continued)
Health Care Facilities (Continued)
$881,669
Select Medical Corp., Tranche B-1, 1 Mo. CME Term SOFR +
3.00%, 0.00% Floor
8.25
%
03/06/27
$887,179
2,596,863
Southern Veterinary Partners LLC, 2024 Term Loan B, 1 Mo. CME
Term SOFR + 3.75%, 1.00% Floor
9.00
%
10/05/27
2,613,418
 
8,342,290
Health Care Services – 2.0%
646,564
Agiliti Health, Inc. (Universal Hospital Services), Term Loan B, 3
Mo. CME Term SOFR + 3.00%, 0.00% Floor
8.33
%
05/01/30
642,931
2,575,922
ExamWorks Group, Inc. (Electron Bidco), Term Loan B, 1 Mo.
CME Term SOFR + CSA + 3.00%, 0.50% Floor
8.36
%
11/01/28
2,585,762
387,142
Radnet Management, Inc., Initial Term Loan B, 3 Mo. CME Term
SOFR + 2.50%, 0.00% Floor
7.78
%
04/10/31
388,433
2,144,625
Surgery Centers Holdings, Inc., 2024 Refi Term Loan, 1 Mo. CME
Term SOFR + 2.75%, 0.00% Floor
8.06
%
12/19/30
2,151,638
 
5,768,764
Health Care Supplies – 1.7%
4,743,859
Medline Borrower, L.P. (Mozart), 2024 Refi Term Loan B, 1 Mo.
CME Term SOFR + CSA + 2.75%, 0.50% Floor
8.00
%
10/21/28
4,761,008
Health Care Technology – 7.8%
4,789,157
athenahealth, Inc. (Minerva Merger Sub, Inc.), Term Loan B, 1
Mo. CME Term SOFR + 3.25%, 0.50% Floor
8.50
%
02/15/29
4,766,935
123,124
Clario (f/k/a eResearch Technology, Inc.), Term Loan B, 1 Mo.
CME Term SOFR + 4.00%, 1.00% Floor
9.25
%
02/04/27
123,962
3,360,302
Cotiviti, Inc. (Verscend), Floating Rate Loan, 1 Mo. CME Term
SOFR + 3.25%, 0.00% Floor
8.59
%
05/01/31
3,366,603
1,691,593
Ensemble RCM LLC (Ensemble Health), 2024 Refi Loan, 3 Mo.
CME Term SOFR + 3.00%, 0.00% Floor
8.25
%
08/01/29
1,698,580
795,437
Mediware (Wellsky/Project Ruby Ultimate Parent Corp.), 2024
Incremental Term Loan, 1 Mo. CME Term SOFR + CSA +
3.50%, 0.00% Floor
8.86
%
03/10/28
798,618
3,792,426
Mediware (Wellsky/Project Ruby Ultimate Parent Corp.), Term
Loan B, 1 Mo. CME Term SOFR + CSA + 3.25%, 0.75% Floor
8.71
%
03/10/28
3,799,859
1,488,394
R1 RCM Holdco, Inc., Term Loan B, 1 Mo. CME Term SOFR +
3.00%, 0.50% Floor
8.25
%
06/21/29
1,492,301
2,811,457
Waystar Technologies, Inc., Term Loan B, 1 Mo. CME Term SOFR
+ 2.75%, 0.00% Floor
8.00
%
10/22/29
2,825,528
773,189
WS Audiology (Auris Lux III SARL), USD Term Loan B4, 6 Mo.
CME Term SOFR + CSA + 4.25%, 0.00% Floor
9.56
%
02/28/29
778,748
2,334,680
Zelis Payments Buyer, Inc., Term Loan B-2, 1 Mo. CME Term
SOFR + 2.75%, 0.00% Floor
8.00
%
09/28/29
2,340,762
 
21,991,896
Hotels, Resorts & Cruise Lines – 0.3%
453,685
Alterra Mountain Company, Term Loan B, 1 Mo. CME Term
SOFR + 3.25%, 0.00% Floor
8.50
%
08/17/28
455,726
393,979
Wyndham Hotels & Resorts, Inc., 2024 Refi Term Loan, 1 Mo.
CME Term SOFR + CSA + 1.75%, 0.00% Floor
7.00
%
05/25/30
395,057
 
850,783
Industrial Machinery & Supplies & Components – 2.2%
1,942,225
Filtration Group Corp., 2021 Incremental Term Loan B, 1 Mo.
CME Term SOFR + CSA + 3.50%, 0.50% Floor
8.86
%
10/21/28
1,950,858
First Trust Senior Floating Rate Income Fund II (FCT)
Portfolio of Investments (Continued)
August 31, 2024 (Unaudited)
Principal
Value
Description
Rate (a)
Stated
Maturity (b)
Value
SENIOR FLOATING-RATE LOAN INTERESTS (c) (Continued)
Industrial Machinery & Supplies & Components (Continued)
$123,490
Gates Global LLC, Term Loan B-5, 1 Mo. CME Term SOFR +
2.25%, 0.50% Floor
7.50
%
06/04/31
$123,914
962,600
Madison IAQ LLC, Term Loan B, 6 Mo. CME Term SOFR +
2.75%, 0.50% Floor
7.89
%
06/21/28
965,117
2,571,974
Pro Mach, Inc., Term Loan B, 1 Mo. CME Term SOFR + 3.50%,
1.00% Floor
8.75
%
08/31/28
2,589,888
607,928
TK Elevator Newco GMBH (Vertical U.S. Newco, Inc.), 2024
USD Refi Loan, 6 Mo. CME Term SOFR + 3.50%,
0.50% Floor
8.59
%
04/30/30
610,746
 
6,240,523
Insurance Brokers – 17.6%
6,778,630
Alliant Holdings I LLC, Term Loan B-6, 1 Mo. CME Term SOFR
+ 3.50%, 0.50% Floor
8.81
%
11/06/30
6,807,168
5,040,538
Amwins Group, Inc., Term Loan B, 1 Mo. CME Term SOFR +
CSA + 2.25%, 0.75% Floor
7.61
%
02/19/28
5,055,332
35,974
Ardonagh Midco 3 Ltd., Facility B USD, 3 Mo. CME Term SOFR
+ 3.75%, 0.00% Floor
8.85
%
02/15/31
36,221
581,012
Ardonagh Midco 3 Ltd., Facility B USD, 6 Mo. CME Term SOFR
+ 3.75%, 0.00% Floor
8.53
%
02/15/31
585,007
5,172,579
AssuredPartners, Inc., 2024 Term Loan B5, 1 Mo. CME Term
SOFR + 3.50%, 0.50% Floor
8.75
%
02/14/31
5,187,786
1,916,070
Baldwin Insurance Group Holdings LLC, Term Loan B, 1 Mo.
CME Term SOFR + 3.25%, 0.00% Floor
8.50
%
05/27/31
1,918,465
3,973,119
BroadStreet Partners, Inc., Term Loan B-4, 1 Mo. CME Term
SOFR + 3.25%, 0.00% Floor
8.50
%
06/14/31
3,976,754
15,187
Hub International Ltd., Term Loan B, 2 Mo. CME Term SOFR +
3.00%, 0.75% Floor
8.26
%
06/20/30
15,213
6,059,431
Hub International Ltd., Term Loan B, 3 Mo. CME Term SOFR +
3.00%, 0.75% Floor
8.26
%
06/20/30
6,070,035
130,565
Hyperion Insurance Group Ltd. (aka - Howden Group), Term Loan
B, 1 Mo. CME Term SOFR + 3.50%, 0.50% Floor
8.74
%
04/18/30
130,903
1,591,858
IMA Financial Group, Inc., 2024 Refi Term Loan B, 1 Mo. CME
Term SOFR + 3.25%, 0.50% Floor
8.50
%
11/01/28
1,593,187
3,262,198
OneDigital Borrower LLC, First Lien Term Loan B, 1 Mo. CME
Term SOFR + 3.25%, 0.50% Floor
8.50
%
07/02/31
3,254,043
1,236,550
OneDigital Borrower LLC, Second Lien Term Loan, 1 Mo. CME
Term SOFR + 5.25%, 0.50% Floor
10.50
%
07/02/32
1,229,848
4,245,877
Ryan Specialty Group LLC, 2024 Term Loan, 1 Mo. CME Term
SOFR + 2.75%, 0.75% Floor
8.00
%
09/01/27
4,272,413
1,036,130
Truist Insurance Holdings LLC (McGriff/Panther Escrow), Second
Lien Term Loan, 3 Mo. CME Term SOFR + 4.75%, 0.00% Floor
10.08
%
05/06/32
1,055,003
2,704,947
Truist Insurance Holdings LLC (McGriff/Panther Escrow), Term
Loan B, 3 Mo. CME Term SOFR + 3.25%, 0.00% Floor
8.58
%
05/06/31
2,711,994
1,699,640
USI, Inc., 2029 Term Loan B, 3 Mo. CME Term SOFR + 2.75%,
0.00% Floor
8.08
%
11/22/29
1,702,088
4,358,974
USI, Inc., 2030 Term Loan B, 3 Mo. CME Term SOFR + 2.75%,
0.00% Floor
8.08
%
09/29/30
4,364,422
 
49,965,882
Integrated Telecommunication Services – 1.8%
3,327,768
Numericable (Altice France SA or SFR), Term Loan B-11, 3 Mo.
Synthetic USD LIBOR + 2.75%, 0.00% Floor
8.26
%
07/31/25
2,962,313
First Trust Senior Floating Rate Income Fund II (FCT)
Portfolio of Investments (Continued)
August 31, 2024 (Unaudited)
Principal
Value
Description
Rate (a)
Stated
Maturity (b)
Value
SENIOR FLOATING-RATE LOAN INTERESTS (c) (Continued)
Integrated Telecommunication Services (Continued)
$989,950
Numericable (Altice France SA or SFR), Term Loan B-12, 3 Mo.
Synthetic USD LIBOR + 3.69%, 0.00% Floor
9.25
%
01/31/26
$810,417
533,468
Radiate Holdco LLC (Astound), Amendment No. 6 Term Loan, 1
Mo. CME Term SOFR + CSA + 3.25%, 0.75% Floor
8.61
%
09/25/26
430,242
936,284
Zayo Group Holdings, Inc., Incremental Term Loan B-2, 1 Mo.
CME Term SOFR + 4.25%, 0.50% Floor
9.50
%
03/09/27
873,862
 
5,076,834
IT Consulting & Other Services – 0.2%
575,530
CDK Global, Inc.(Central Parent, Inc.), Term Loan B, 3 Mo. CME
Term SOFR + 3.25%, 0.00% Floor
8.58
%
07/06/29
571,430
Leisure Products – 0.1%
199,232
Amer Sports Company, Initial Term Loan B, 3 Mo. CME Term
SOFR + 3.25%, 0.00% Floor
8.35
%
02/16/31
200,042
Life Sciences Tools & Services – 0.9%
2,460,732
Syneos Health, Inc. (Star Parent), Term Loan B, 3 Mo. CME Term
SOFR + 3.75%, 0.00% Floor
9.08
%
09/30/30
2,450,803
Metal, Glass & Plastic Containers – 2.8%
559,167
Berlin Packaging LLC, Term Loan B-7, 1 Mo. CME Term SOFR +
3.75%, 0.00% Floor
9.09
%
05/15/31
559,693
62,927
Berlin Packaging LLC, Term Loan B-7, 3 Mo. CME Term SOFR +
3.75%, 0.00% Floor
9.08
%
05/15/31
62,986
4,366,327
ProAmpac PG Borrower LLC, 2024 Refi Term Loan B, 3 Mo.
CME Term SOFR + 4.00%, 0.75% Floor
9.12%-9.30%
09/15/28
4,386,346
937,872
Tekni-Plex (Trident TPI Holdings, Inc.), Tranche B-6 Term Loan, 3
Mo. CME Term SOFR + 4.00%, 0.50% Floor
9.33
%
09/17/28
942,777
1,923,270
TricorBraun, Inc., Initial Term Loan, 1 Mo. CME Term SOFR +
CSA + 3.25%, 0.50% Floor
8.61
%
03/03/28
1,920,953
 
7,872,755
Other Specialty Retail – 0.7%
2,189,725
Petco Health and Wellness Company, Inc., Initial Term Loan B, 3
Mo. CME Term SOFR + CSA + 3.25%, 0.75% Floor
8.85
%
03/04/28
2,030,565
Packaged Foods & Meats – 1.9%
951,777
Nomad Foods Ltd., Term Loan B-5, 6 Mo. CME Term SOFR +
2.50%, 0.50% Floor
7.81
%
11/08/29
953,561
1,473,591
Shearer’s Foods LLC (Fiesta Purchaser, Inc.), Initial Term Loan B,
1 Mo. CME Term SOFR + 4.00%, 0.00% Floor
9.25
%
02/12/31
1,484,142
2,804,715
Utz Quality Foods LLC, 2024 Refi Term Loan B, 1 Mo. CME
Term SOFR + 2.75%, 0.00% Floor
8.00
%
01/20/28
2,817,435
 
5,255,138
Paper & Plastic Packaging Products & Materials – 3.4%
4,602,789
Graham Packaging Company, L.P., 2024 Refi Term Loan B, 1 Mo.
CME Term SOFR + 2.50%, 0.00% Floor
7.75
%
08/04/27
4,609,762
2,935,404
Pactiv LLC/Evergreen Packaging LLC (f/k/a Reynolds Group
Holdings), 2024 Refi Term Loan B-4, 1 Mo. CME Term SOFR +
2.50%, 0.00% Floor
7.75
%
09/24/28
2,941,832
2,001,285
Veritiv Corp. (Verde Purchaser LLC), 2024 Refi Term Loan B, 3
Mo. CME Term SOFR + 4.50%, 0.00% Floor
9.83
%
12/02/30
2,005,458
 
9,557,052
First Trust Senior Floating Rate Income Fund II (FCT)
Portfolio of Investments (Continued)
August 31, 2024 (Unaudited)
Principal
Value
Description
Rate (a)
Stated
Maturity (b)
Value
SENIOR FLOATING-RATE LOAN INTERESTS (c) (Continued)
Pharmaceuticals – 0.6%
$1,701,405
Parexel International Corp. (Phoenix Newco), 2024 Refi Term
Loan, 1 Mo. CME Term SOFR + 3.00%, 0.50% Floor
8.25
%
11/15/28
$1,710,091
Property & Casualty Insurance – 1.6%
4,434,474
Sedgwick Claims Management Services, Inc., 2024 Term Loan B,
3 Mo. CME Term SOFR + 3.75%, 0.00% Floor
8.25
%
07/31/31
4,445,560
Research & Consulting Services – 8.4%
3,292,547
AlixPartners, LLP, Term Loan B, 1 Mo. CME Term SOFR + CSA
+ 2.50%, 0.50% Floor
7.86
%
02/04/28
3,310,178
7,762,963
Clarivate Analytics PLC (Camelot), 2024 Term Loan B, 1 Mo.
CME Term SOFR + 2.75%, 0.00% Floor
8.00
%
01/31/31
7,778,489
6,879,322
Dun & Bradstreet Corp., 2024 Refi Term Loan, 1 Mo. CME Term
SOFR + 2.75%, 0.00% Floor
8.03
%
01/18/29
6,898,653
428,136
Eisner Advisory Group, LLC, Term Loan B, 1 Mo. CME Term
SOFR + 4.00%, 0.50% Floor
9.25
%
02/28/31
429,955
2,778,851
Grant Thornton Advisors LLC, Term Loan B, 1 Mo. CME Term
SOFR + 3.25%, 0.00% Floor
8.50
%
05/31/31
2,791,454
1,695,252
J.D. Power (Project Boost Purchaser LLC), Term Loan B, 3 Mo.
CME Term SOFR + 3.50%, 0.00% Floor
8.79
%
07/15/31
1,701,931
809,973
Veritext Corp. (VT TopCo, Inc.), Initial Term Loan B, 1 Mo. CME
Term SOFR + 3.50%, 0.50% Floor
8.75
%
08/12/30
815,744
 
23,726,404
Restaurants – 5.8%
6,570,541
1011778 B.C. Unlimited Liability Company (Restaurant Brands)
(aka Burger King/Tim Horton’s), 2024 Refi Term Loan, 1 Mo.
CME Term SOFR + 1.75%, 0.00% Floor
7.00
%
09/23/30
6,531,020
6,523,626
IRB Holding Corp. (Arby’s/Inspire Brands), 2024 Replacement
Term Loan B, 1 Mo. CME Term SOFR + CSA + 2.75%, 0.75%
Floor
8.10
%
12/15/27
6,537,553
3,500,728
Whatabrands LLC, 2024 Refi Term Loan B, 1 Mo. CME Term
SOFR + 2.75%, 0.50% Floor
8.00
%
08/03/28
3,507,117
 
16,575,690
Security & Alarm Services – 1.6%
4,526,313
Garda World Security Corp., Term Loan B, 1 Mo. CME Term
SOFR + 3.50%, 0.00% Floor
8.83
%
02/01/29
4,538,194
Specialized Consumer Services – 1.1%
3,135,681
Mister Car Wash Holdings, Inc., 2024 Refinancing Term Loans, 1
Mo. CME Term SOFR + 3.00%, 0.00% Floor
8.25
%
03/27/31
3,145,229
Specialized Finance – 1.3%
3,622,094
Creative Planning Group (CPI Holdco), Initial Term Loan, 1 Mo.
CME Term SOFR + 2.00%, 0.00% Floor
7.25
%
05/19/31
3,623,054
Systems Software – 3.3%
494,367
BMC Software Finance, Inc. (Boxer Parent), 2031 First Lien Term
Loan, 3 Mo. CME Term SOFR + 3.75%, 0.00% Floor
9.01
%
07/30/31
493,853
236,750
Gen Digital, Inc. (f/k/a NortonLifeLock, Inc.), 2024 Refi Term
Loan, 1 Mo. CME Term SOFR + 1.75%, 0.50% Floor
7.00
%
09/12/29
236,750
2,958,799
Idera, Inc. (Flash Charm), 2024 Refi Term Loan, 3 Mo. CME Term
SOFR + 3.50%, 0.75% Floor
8.75
%
03/02/28
2,945,425
320,701
Idera, Inc. (Flash Charm), Second Lien Term Loan, 3 Mo. CME
Term SOFR + CSA + 6.75%, 0.75% Floor
12.15
%
03/02/29
314,488
First Trust Senior Floating Rate Income Fund II (FCT)
Portfolio of Investments (Continued)
August 31, 2024 (Unaudited)
Principal
Value
Description
Rate (a)
Stated
Maturity (b)
Value
SENIOR FLOATING-RATE LOAN INTERESTS (c) (Continued)
Systems Software (Continued)
$2,281,938
Proofpoint, Inc., 2024 Refi Term Loan, 1 Mo. CME Term SOFR +
3.00%, 0.50% Floor
8.25
%
08/31/28
$2,286,730
2,803,218
SS&C Technologies Holdings, Inc., Term Loan B8, 1 Mo. CME
Term SOFR + 2.00%, 0.00% Floor
7.25
%
05/09/31
2,813,730
407,844
SUSE (Marcel Bidco LLC), 2024 Refi Term Loan B, Daily CME
Term SOFR + 4.00%, 0.50% Floor
9.33%-9.38%
11/09/30
411,160
 
9,502,136
Transaction & Payment Processing Services – 0.7%
1,854,552
Worldpay (GTCR W Merger Sub LLC/Boost Newco LLC), Term
Loan B, 2 Mo. CME Term SOFR + 2.50%, 0.00% Floor
7.75
%
01/31/31
1,861,999
Wireless Telecommunication Services – 1.6%
4,601,115
SBA Senior Finance II LLC, 2024 Refi Term Loan B, 1 Mo. CME
Term SOFR + 2.00%, 0.00% Floor
7.25
%
01/25/31
4,613,285
Total Senior Floating-Rate Loan Interests
308,126,235
(Cost $309,078,954)
Principal
Value
Description
Stated
Coupon
Stated
Maturity
Value
CORPORATE BONDS AND NOTES (c) – 3.9%
Application Software – 0.1%
238,000
GoTo Group, Inc. (e)
5.50
%
05/01/28
184,842
238,000
GoTo Group, Inc. (d) (e)
5.50
%
05/01/28
86,870
 
271,712
Broadcasting – 2.0%
4,300,000
iHeartCommunications, Inc. (e)
5.25
%
08/15/27
2,694,049
829,000
Nexstar Media, Inc. (e)
5.63
%
07/15/27
810,826
2,395,000
Sirius XM Radio, Inc. (e)
3.13
%
09/01/26
2,292,848
 
5,797,723
Cable & Satellite – 1.1%
2,137,000
CCO Holdings LLC / CCO Holdings Capital Corp. (e)
5.13
%
05/01/27
2,096,109
1,465,000
CSC Holdings LLC (e)
7.50
%
04/01/28
757,980
374,000
CSC Holdings LLC (e)
11.25
%
05/15/28
332,732
 
3,186,821
Casinos & Gaming – 0.4%
572,000
Fertitta Entertainment LLC / Fertitta Entertainment Finance Co.,
Inc. (e)
4.63
%
01/15/29
535,505
572,000
VICI Properties, L.P. / VICI Note Co., Inc. (e)
4.25
%
12/01/26
565,509
 
1,101,014
Health Care Supplies – 0.1%
274,000
Medline Borrower, L.P. / Medline Co-Issuer, Inc. (e)
6.25
%
04/01/29
282,789
Insurance Brokers – 0.1%
346,000
AmWINS Group, Inc. (e)
4.88
%
06/30/29
330,853
Life Sciences Tools & Services – 0.1%
137,000
Star Parent, Inc. (e)
9.00
%
10/01/30
146,422
Total Corporate Bonds and Notes
11,117,334
(Cost $11,622,585)
First Trust Senior Floating Rate Income Fund II (FCT)
Portfolio of Investments (Continued)
August 31, 2024 (Unaudited)
Principal
Value
Description
Stated
Coupon
Stated
Maturity
Value
FOREIGN CORPORATE BONDS AND NOTES (c) – 0.6%
Application Software – 0.0%
$22,000
Open Text Corp. (e)
3.88
%
02/15/28
$20,873
Environmental & Facilities Services – 0.6%
1,554,000
GFL Environmental, Inc. (e)
3.75
%
08/01/25
1,538,287
305,000
GFL Environmental, Inc. (e)
4.00
%
08/01/28
291,023
 
1,829,310
Total Foreign Corporate Bonds and Notes
1,850,183
(Cost $1,826,623)
 
Shares
Description
Value
COMMON STOCKS – 0.0%
Pharmaceuticals – 0.0%
150,392
Akorn, Inc. (f) (g) (h)
11,280
(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)
Total Investments – 113.3%
321,105,032
(Cost $324,252,248)
Outstanding Loans – (12.0)%
(34,000,000
)
Net Other Assets and Liabilities – (1.3)%
(3,780,482
)
Net Assets – 100.0%
$283,324,550
 
(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, such as the synthetic LIBOR, (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 or synthetic LIBOR floor
that establishes a minimum SOFR or synthetic LIBOR rate. When a range of rates is disclosed, the Fund holds more than one
contract within the same tranche with identical SOFR or synthetic LIBOR period, spread and floor, but different SOFR or
synthetic 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 or a portion of these securities serve as collateral for the outstanding loan unless otherwise indicated. At August 31, 2024, the
segregated value of these securities amounts to $320,193,801.
(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, 2024, securities noted as such amounted to $12,967,517 or 4.5%
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.
First Trust Senior Floating Rate Income Fund II (FCT)
Portfolio of Investments (Continued)
August 31, 2024 (Unaudited)
(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, 2024, 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).
 
Abbreviations throughout the Portfolio of Investments:
CME
– Chicago Mercantile Exchange
CSA
– Credit Spread Adjustment
LIBOR
– London Interbank Offered Rate
SOFR
– Secured Overnight Financing Rate
USD
– United States Dollar
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, 2024 is as follows: 
 
Total
Value at
8/31/2024
Level 1
Quoted
Prices
Level 2
Significant
Observable
Inputs
Level 3
Significant
Unobservable
Inputs
Senior Floating-Rate Loan Interests*
$308,126,235
$—
$308,126,235
$—
Corporate Bonds and Notes*
11,117,334
—
11,117,334
—
Foreign Corporate Bonds and Notes*
1,850,183
—
1,850,183
—
Common Stocks*
11,280
—
11,280
—
Rights*
—
**
—
—
—
**
Total Investments
$321,105,032
$—
$321,105,032
$—
**
 
*
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, 2024 (Unaudited)
Unfunded Loan Commitments
As of August 31, 2024, 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
$ 35,060
$ 35,066
$ 35,224
$ 158
Epicor Software Corp., Term Loan
359,655
358,756
361,506
2,750
 
$393,822
$396,730
$2,908
Restricted Securities 
As of August 31, 2024, the Fund held restricted securities 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
$0.08
$1,724,086
$11,280
0.00
%*
* Amount is less than 0.01%.
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