First Trust SSI Strategic Convertible Securities ETF (FCVT) Portfolio of Investments January 31, 2018 (Unaudited) Stated. Principal.

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1 Portfolio of Investments Principal Coupon CONVERTIBLE CORPORATE BONDS 80.9% Aerospace & Defense 1.5% $ 463,000 Aerojet Rocketdyne Holdings, Inc % 12/15/23 $ 583, ,000 RTI International Metals, Inc % 10/15/19 473,080 1,056,162 Air Freight & Logistics 1.5% 320,000 Air Transport Services Group, Inc. (a) % 10/15/24 337, ,000 Atlas Air Worldwide Holdings, Inc % 06/01/22 735,602 1,072,919 Automobiles 2.0% 880,000 Tesla, Inc % 03/01/19 978, ,000 Tesla, Inc % 03/01/21 501,370 1,480,089 Biotechnology 3.8% 120,000 BioMarin Pharmaceutical, Inc % 10/15/20 140, ,000 Exact Sciences Corp % 01/15/25 637, ,000 Insmed, Inc % 01/15/25 437, ,000 Ionis Pharmaceuticals, Inc % 11/15/21 560, ,000 Neurocrine Biosciences, Inc. (a) % 05/15/24 605, ,000 Sarepta Therapeutics, Inc. (a) % 11/15/24 330,636 2,712,501 Building Products 0.5% 363,000 Patrick Industries, Inc. (a) % 02/01/23 373,640 Chemicals 0.7% 425,000 RPM International, Inc % 12/15/20 493,540 Communications Equipment 0.9% 145,000 Palo Alto Networks, Inc (b) 07/01/19 212, ,000 Viavi Solutions, Inc % 08/15/33 471, ,043 Construction & Engineering 0.4% 235,000 Dycom Industries, Inc % 09/15/21 313,193 Construction Materials 0.7% 500,000 Cemex SAB de CV % 03/15/18 512,812 Electronic Equipment, Instruments & Components 1.1% 440,000 II-VI, Inc. (a) % 09/01/22 497, ,000 Vishay Intertechnology, Inc % 11/15/40 299, ,207 Energy Equipment & Services 1.0% 496,000 Oil States International, Inc. (a) % 02/15/23 509, ,000 Weatherford International Ltd % 07/01/21 209, ,082 Equity Real Estate Investment Trusts 2.7% 570,000 Colony NorthStar, Inc % 01/15/21 556, ,000 Empire State Realty OP LP (a) % 08/15/19 270, ,000 Extra Space Storage LP (a) % 10/01/35 648, ,000 IH Merger Sub LLC % 07/01/19 445,600 1,920,148

2 Portfolio of Investments (Continued) Principal Coupon CONVERTIBLE CORPORATE BONDS (Continued) Health Care Equipment & Supplies 2.9% $ 608,000 Insulet Corp % 09/15/21 $ 853, ,000 NuVasive, Inc % 03/15/21 183, ,000 Quidel Corp % 12/15/20 466, ,000 Wright Medical Group, Inc % 02/15/20 592,088 2,095,223 Health Care Providers & Services 2.2% 192,000 Anthem, Inc % 10/15/42 653, ,000 Molina Healthcare, Inc % 08/15/44 899,621 1,553,469 Health Care Technology 1.6% 742,000 Allscripts Healthcare Solutions, Inc % 07/01/20 801, ,000 Teladoc, Inc. (a) % 12/15/22 365,739 1,166,913 Hotels, Restaurants & Leisure 1.7% 418,000 Caesars Entertainment Corp % 10/01/24 880, ,000 China Lodging Group Ltd. (a) % 11/01/22 369,365 1,249,403 Household Durables 0.8% 466,000 KB Home % 02/01/19 567,667 Internet & Direct Marketing Retail 4.2% 440,000 Ctrip.com International Ltd % 07/01/20 472, ,000 Liberty Expedia Holdings, Inc. (a) % 06/30/47 658, ,000 Priceline Group, Inc./The % 03/15/18 220, ,000 Priceline Group, Inc./The % 06/15/20 527, ,000 Priceline Group, Inc./The % 09/15/21 1,165,820 3,044,078 Internet Software & Services 6.8% 575,000 Altaba, Inc.... (b) 12/01/18 866, ,000 Envestnet, Inc % 12/15/19 264, ,000 IAC FinanceCo., Inc. (a) % 10/01/22 532, ,000 Nutanix, Inc. (a)... (b) 01/15/23 747, ,000 VeriSign, Inc. (c) % 08/15/37 1,493, ,000 Weibo Corp. (a) % 11/15/22 688, ,000 Zillow Group, Inc % 12/01/21 326,987 4,919,663 IT Services 0.5% 265,000 Euronet Worldwide, Inc % 10/01/44 351,560 Life Sciences Tools & Services 2.8% 740,000 Illumina, Inc... (b) 06/15/19 814, ,000 Illumina, Inc % 06/15/21 717, ,000 QIAGEN N.V % 03/19/19 490,174 2,022,019 Machinery 3.8% 344,000 Chart Industries, Inc. (a) % 11/15/24 373, ,000 Greenbrier Cos Inc./The % 02/01/24 238, ,000 Meritor, Inc. (a) % 10/15/37 642, ,000 Navistar International Corp % 04/15/19 914,641

3 Portfolio of Investments (Continued) Principal Coupon CONVERTIBLE CORPORATE BONDS (Continued) Machinery (Continued) $ 416,000 Trinity Industries, Inc % 06/01/36 $ 609,547 2,778,551 Media 5.2% 4,500 CenterPoint Energy, Inc % 09/15/29 326, ,000 DISH Network Corp % 08/15/26 910, ,000 Liberty Interactive LLC (a) % 09/30/46 750, ,000 Liberty Media Corp % 10/15/23 688, ,000 Liberty Media Corp.-Liberty Formula One (a) % 01/30/23 564, ,000 Live Nation Entertainment, Inc % 05/15/19 536,417 3,776,054 Metals & Mining 0.7% 445,000 Royal Gold, Inc % 06/15/19 479,914 Mortgage Real Estate Investment Trusts 1.5% 425,000 Blackstone Mortgage Trust, Inc % 05/05/22 420, ,000 Hannon Armstrong Sustainable Infrastructure Capital, Inc % 09/01/22 255, ,000 Two Harbors Investment Corp % 01/15/22 418,269 1,094,749 Oil, Gas & Consumable Fuels 2.1% 830,000 Cheniere Energy, Inc % 03/15/45 641, ,000 Chesapeake Energy Corp % 09/15/26 445, ,000 TOTAL S.A., Series FP % 12/02/22 420,292 1,507,443 Personal Products 1.1% 750,000 Herbalife Ltd % 08/15/19 824,400 Pharmaceuticals 0.5% 360,000 Jazz Investments I Ltd % 08/15/21 370,292 Semiconductors & Semiconductor Equipment 15.4% 193,000 Advanced Micro Devices, Inc % 09/01/26 361, ,000 Cypress Semiconductor Corp % 01/15/22 487, ,000 Integrated Device Technology, Inc % 11/15/22 660, ,000 Intel Corp % 08/01/39 1,676, ,000 Lam Research Corp % 05/15/18 615, ,000 Microchip Technology, Inc % 02/15/25 1,195, ,000 Microchip Technology, Inc. (a) % 02/15/27 994, ,000 Microchip Technology, Inc. (a) % 02/15/37 314, ,000 Micron Technology, Inc., Series F % 02/15/33 1,498, ,000 Micron Technology, Inc., Series G % 11/15/43 221, ,000 Novellus Systems, Inc % 05/15/41 609, ,000 ON Semiconductor Corp % 12/01/20 846, ,000 Rambus, Inc. (a) % 02/01/23 303, ,000 Silicon Laboratories, Inc. (a) % 03/01/22 903, ,000 Teradyne, Inc % 12/15/23 420,962 11,111,143 Software 8.6% 545,000 Citrix Systems, Inc % 04/15/19 723, ,000 HubSpot, Inc. (a) % 06/01/22 541, ,000 Nuance Communications, Inc % 12/15/35 419, ,000 Proofpoint, Inc % 06/15/20 333, ,000 RealPage, Inc. (a) % 11/15/22 664,389

4 Portfolio of Investments (Continued) Principal Coupon CONVERTIBLE CORPORATE BONDS (Continued) Software (Continued) $ 255,000 Red Hat, Inc % 10/01/19 $ 458, ,000 salesforce.com, Inc % 04/01/18 693, ,000 ServiceNow, Inc..... (b) 11/01/18 353, ,000 ServiceNow, Inc. (a)... (b) 06/01/22 1,007, ,000 Workday, Inc % 07/15/18 330, ,000 Workday, Inc. (a) % 10/01/22 709,754 6,235,708 Thrifts & Mortgage Finance 0.5% 200,000 LendingTree, Inc. (a) % 06/01/22 368,674 Trading Companies & Distributors 0.5% 310,000 Kaman Corp. (a) % 05/01/24 356,419 Transportation Infrastructure 0.7% 495,000 Macquarie Infrastructure Corp % 07/15/19 512,247 Total Convertible Corporate Bonds... 58,520,925 (Cost $52,584,936) Shares Rate CONVERTIBLE PREFERRED SECURITIES 18.0% Banks 4.9% 1,161 Bank of America Corp., Series L % (d) 1,465, Huntington Bancshares, Inc./OH, Series A % (d) 195,984 1,475 Wells Fargo & Co., Series L % (d) 1,888,000 3,549,166 Capital Markets 0.4% 4,600 AMG Capital Trust II % 10/15/37 289,800 Electric Utilities 1.2% 12,150 NextEra Energy, Inc % 09/01/18 862,164 Electronic Equipment, Instruments & Components 0.5% 3,225 Belden, Inc % 05/01/20 358,523 Equity Real Estate Investment Trusts 1.1% 525 Crown Castle International Corp., Series A % 08/01/20 587,391 3,800 Welltower, Inc., Series I % (d) 219, ,297 Food Products 0.4% 2,625 Bunge Ltd % (d) 295,313 Health Care Equipment & Supplies 1.8% 20,900 Becton Dickinson and Co., Series A % 05/01/20 1,310,848 Health Care Providers & Services 1.4% 16,700 Anthem, Inc % 05/01/18 1,003,002 Internet Software & Services 2.6% 8,225 Mandatory Exchangeable Trust (a) % 06/01/19 1,891,517 Machinery 1.0% 6,600 Rexnord Corp., Series A % 11/15/19 404,778 2,825 Stanley Black & Decker, Inc % 05/15/20 336, ,377

5 Portfolio of Investments (Continued) Shares Rate CONVERTIBLE PREFERRED SECURITIES (Continued) Multi-Utilities 0.7% 9,300 Dominion Energy, Inc., Series A % 08/15/19 $ 469,371 Oil, Gas & Consumable Fuels 0.9% 10,120 Hess Corp % 02/01/19 605,884 Pharmaceuticals 1.1% 1,245 Allergan PLC, Series A % 03/01/18 806,387 Total Convertible Preferred Securities... 12,990,649 (Cost $11,936,021) Total Investments 98.9%... 71,511,574 (Cost $64,520,957) Net Other Assets and Liabilities 1.1% ,853 Net Assets 100.0%... $ 72,338,427 (a) 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, and may be resold in transactions exempt from registration, normally to qualified institutional buyers. Pursuant to procedures adopted by the Trust s Board of Trustees, this security has been determined to be liquid by SSI Investment Management Inc. ( SSI ), the Fund s sub-advisor. Although market instability can result in periods of increased overall market illiquidity, liquidity for each security is determined based on security specific factors and assumptions, which require subjective judgment. At January 31, 2018, securities noted as such amounted to $17,320,121 or 23.9% of net assets. (b) Zero coupon security. (c) Multi-Step Coupon Bond - The coupon rate will increase from 4.70% to 4.87% effective February 15, 2018 and will decrease to 3.25% effective August 15, (d) Perpetual maturity. Valuation Inputs A summary of the inputs used to value the Fund s investments as of January 31, 2018 is as follows (see Note 2A - Portfolio Valuation in the Notes to Portfolio of Investments): Total at 1/31/2018 Level 1 Quoted Prices Level 2 Significant Observable Inputs Level 3 Significant Unobservable Inputs ConvertibleCorporateBonds*... $58,520,925 $ $ 58,520,925 $ Convertible Preferred Securities: CapitalMarkets , ,800 Food Products , ,313 Internet Software & Services.... 1,891,517 1,891,517 Other industry categories*... 10,514,019 10,514,019 Total Convertible Preferred Securities ,990,649 10,514,019 2,476,630 TotalInvestments... $71,511,574 $ 10,514,019 $ 60,997,555 $ * See Portfolio of Investments for industry breakout. All transfers in and out of the Levels during the period are assumed to occur on the last day of the period at their current value. There were no transfers between Levels at January 31, 2018.

6 Notes to Portfolio of Investments First Trust SSI Strategic Convertible Securities ETF (FCVT) 1. Organization First Trust Exchange-Traded Fund IV (the Trust ) is an open-end management investment company organized as a Massachusetts business trust on September 15, 2010, and is registered with the Securities and Exchange Commission under the Investment Company Act of 1940, as amended (the 1940 Act ). The Trust consists of eight funds that are currently offering shares. This report covers the First Trust SSI Strategic Convertible Securities ETF (the Fund ), a non-diversified series of the Trust, which trades under the ticker FCVT on The Nasdaq Stock Market, LLC ( Nasdaq ). The Fund is considered an investment company and follows accounting and reporting guidance under Financial Accounting Standards Board Accounting Standards Codification Topic 946, Financial Services-Investment Companies. 2. Valuation and Investment Practices A. Portfolio Valuation The Fund s net asset value ( NAV ) is determined daily as of the close of regular trading on the New York Stock Exchange ( NYSE ), normally 4:00 p.m. Eastern time, on each day the NYSE is open for trading. If the NYSE closes early on a valuation day, the NAV is determined as of that time. Domestic debt securities are priced using data reflecting the earlier closing of the principal markets for those securities. The Fund s NAV is calculated by dividing the value of all assets of the Fund (including accrued interest and dividends), less all liabilities (including accrued expenses and dividends declared but unpaid), by the total number of shares outstanding. The Fund s investments are valued daily at market value or, in the absence of market value with respect to any portfolio securities, at fair value. Market value prices represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. Fair value prices represent any prices not considered market value prices and are either obtained from a third-party pricing service or are determined by the Pricing Committee of the Fund s investment advisor, First Trust Advisors L.P. ( First Trust or the Advisor ), in accordance with valuation procedures adopted by the Trust s Board of Trustees, and in accordance with provisions of the 1940 Act. Investments valued by the Advisor s Pricing Committee, if any, are footnoted as such in the footnotes to the Portfolio of Investments. The Fund s investments are valued as follows: Convertible preferred stocks and other equity securities listed on any national or foreign exchange (excluding Nasdaq and the London Stock Exchange Alternative Investment Market ( AIM )) are valued at the last sale price on the exchange on which they are principally traded or, for Nasdaq and AIM securities, the official closing price. Securities traded on more than one securities exchange are valued at the last sale price or official closing price, as applicable, at the close of the securities exchange representing the principal market for such securities. Convertible corporate bonds, notes and other debt securities are fair valued on the basis of valuations provided by dealers who make markets in such securities or by a third-party pricing service approved by the Trust s Board of Trustees, which may use the following valuation inputs when available: 1) benchmark yields; 2) reported trades; 3) broker/dealer quotes; 4) issuer spreads; 5) benchmark securities; 6) bids and offers; and 7) reference data including market research publications. Securities traded in an over-the-counter market are fair valued at the mean of their most recent bid and asked price, if available, and otherwise at their closing bid price. Fixed income and other debt securities having a remaining maturity of sixty days or less when purchased are fair valued at cost adjusted for amortization of premiums and accretion of discounts (amortized cost), provided the Advisor s Pricing Committee has determined that the use of amortized cost is an appropriate reflection of fair value given market and issuer-specific conditions existing at the time of the determination. Factors that may be considered in determining the appropriateness of the use of amortized cost include, but are not limited to, the following: 1) the credit conditions in the relevant market and changes thereto;

7 Notes to Portfolio of Investments (Continued) First Trust SSI Strategic Convertible Securities ETF (FCVT) 2) the liquidity conditions in the relevant market and changes thereto; 3) the interest rate conditions in the relevant market and changes thereto (such as significant changes in interest rates); 4) issuer-specific conditions (such as significant credit deterioration); and 5) any other market-based data the Advisor s Pricing Committee considers relevant. In this regard, the Advisor s Pricing Committee may use last-obtained market-based data to assist it when valuing portfolio securities using amortized cost. Certain securities may not be able to be priced by pre-established pricing methods. Such securities may be valued by the Trust s Board of Trustees or its delegate, the Advisor s Pricing Committee, at fair value. These securities generally include, but are not limited to, restricted securities (securities which may not be publicly sold without registration under the Securities Act of 1933, as amended) for which a third-party pricing service is unable to provide a market price; securities whose trading has been formally suspended; a security whose market or fair value price is not available from a pre-established pricing source; a security with respect to which an event has occurred that is likely to materially affect the value of the security after the market has closed but before the calculation of the Fund s NAV or make it difficult or impossible to obtain a reliable market quotation; and a security whose price, as provided by the third-party pricing service, does not reflect the security s fair value. As a general principle, the current fair value of a security would appear to be the amount which the owner might reasonably expect to receive for the security upon its current sale. When fair value prices are used, generally they will differ from market quotations or official closing prices on the applicable exchanges. A variety of factors may be considered in determining the fair value of such securities, including, but not limited to, the following: Fair valuation of a debt security will be based on the consideration of all available information, including, but not limited to, the following: 1) the fundamental business data relating to the issuer; 2) an evaluation of the forces which influence the market in which these securities are purchased and sold; 3) the type, size and cost of security; 4) the financial statements of the issuer; 5) the credit quality and cash flow of the issuer, based on the sub-advisor s or external analysis; 6) the information as to any transactions in or offers for the security; 7) the price and extent of public trading in similar securities (or equity securities) of the issuer, or comparable companies; 8) the coupon payments; 9) the quality, value and salability of collateral, if any, securing the security; 10) the business prospects of the issuer, including any ability to obtain money or resources from a parent or affiliate and an assessment of the issuer s management(for corporate debt only); 11) the prospects for the issuer s industry, and multiples (of earnings and/or cash flows) being paid for similar businesses in that industry; and 12) other relevant factors. Fair valuation of an equity security will be based on the consideration of all available information, including, but not limited to the following: 1) the type of security; 2) the size of the holding; 3) the initial cost of the security; 4) transactions in comparable securities; 5) price quotes from dealers and/or third-party pricing services; 6) relationships among various securities; 7) information obtained by contacting the issuer, analysts, or the appropriate stock exchange; 8) an analysis of the issuer s financial statements; and 9) the existence of merger proposals or tender offers that might affect the value of the security. 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. An active market is a market in which transactions for the investment occur with sufficient frequency and volume to provide pricing information on an ongoing basis.

8 Notes to Portfolio of Investments (Continued) First Trust SSI Strategic Convertible Securities ETF (FCVT) Level 2 Level 2 inputs are observable inputs, either directly or indirectly, and include the following: o Quoted prices for similar investments in active markets. o Quoted prices for identical or similar investments in markets that are non-active. A non-active market is a market where there are few transactions for the investment, the prices are not current, or price quotations vary substantially either over time or among market makers, or in which little information is released publicly. o Inputs other than quoted prices that are observable for the investment (for example, interest rates and yield curves observable at commonly quoted intervals, volatilities, prepayment speeds, loss severities, credit risks, and default rates). o Inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 3 Level 3 inputs are unobservable inputs. Unobservable inputs may reflect the reporting entity s own assumptions about the assumptions that market participants would use in pricing the investment. The inputs or methodologies used for valuing investments are not necessarily an indication of the risk associated with investing in those investments. A summary of the inputs used to value the Fund s investments as of January 31, 2018, is included with the Fund s Portfolio of Investments. B. Securities Transactions Securities transactions are recorded as of the trade date. Realized gains and losses from securities transactions are recorded on the identified cost basis.