Target VIP, 3rd Qtr 2023  Ticker: FTWFMX
 
Description
A unit investment trust that seeks above-average total return; however, there is no assurance the objective will be met. The portfolio provides you with the convenience of owning six distinct strategies in one investment. It invests in a fixed portfolio of stocks which are selected by applying pre-determined screens and factors.
Please note that there is no assurance the objective will be met.
 
Summary
Product Code: VP3Q23
Portfolio Status: Secondary
Initial Offer Date: 07/10/2023
Secondary Date: 10/09/2023
Portfolio Ending Date: 10/09/2024
Tax Structure: Regulated Investment Company
Distributions: Semi-Annual
 
Initial Offer Price: $10.0000
NAV(*): $12.7826
POP(*): Not Avail
Remaining Deferred Sales Charge: $0.0000
* As of Trade Date: 07/17/2024 4:00pm ET
The Public Offering Price (POP) represents the net asset value per unit plus any applicable organization costs and sales charges. The Net Asset Value (NAV) represents the value per unit of a trust’s portfolio securities and other assets reduced by applicable deferred sales charges and other liabilities.

 Historical 12-Month Distribution of Trust Holdings:^
Rate  Per Unit (as of 7/15/2024)
----- $0.19150
^ There is no guarantee the issuers of the securities included in the trust will declare dividends or distributions in the future. The historical 12-month distribution per unit of the securities included in the trust are for illustrative purposes only and are not indicative of the trust's distribution or distribution rate. The historical 12-month distribution per unit is based on the weighted average of the trailing twelve month distributions paid by the securities included in the portfolio. The historical 12-month distributions are reduced to account for the effects of fees and expenses, which will be incurred when investing in a trust. For trusts that include funds, distributions may include realized short term capital gains, realized long-term capital gains and/or return of capital. Certain of the issuers may have reduced their dividends or distributions over the prior twelve months. The distribution per unit paid by the trust may be higher or lower than the amount shown above due to certain factors that may include, but are not limited to, a change in the dividends or distributions paid by issuers, actual expenses incurred, or the sale of securities in the portfolio.

 Holdings Analysis Click here to Perform a Benchmark Comparison  
 Sector Weighting
Communication Services  Communication Services 9.15%
Consumer Discretionary  Consumer Discretionary 15.45%
Consumer Staples  Consumer Staples 2.49%
Energy  Energy 5.16%
Financials  Financials 10.30%
Health Care  Health Care 2.90%
Industrials  Industrials 18.45%
Information Technology  Information Technology 31.89%
Materials  Materials 2.83%
Real Estate  Real Estate 0.00%
Utilities  Utilities 1.26%
Other  Other 0.12%
 
  Large Mid Small  
Growth  51.20% 3.68% 10.88%  
Value  26.29% 3.51% 4.32%  

 Style Weighting
Large-Cap Growth 51.20%
Large-Cap Value 26.29%
Mid-Cap Growth 3.68%
Mid-Cap Value 3.51%
Small-Cap Growth 10.88%
Small-Cap Value 4.32%
Undetermined 0.12%
 Composition
U.S. Stocks 85.04%   Other 0.12%
Non-U.S. Stocks 14.84%      
The style and sector characteristics of the portfolio are determined as of 07/16/2024 and will likely vary thereafter due to market fluctuations in the underlying securities.  

 Key Stats
Weighted Average Market Cap $730,744
Price/Earnings 18.90
Price/Book 2.89
As of 7/16/2024
All market capitalization numbers are in USD$ Millions. All figures are subject to change.

 Holdings  Export Current Holdings | View Initial Holdings  
NameSymbolSectorStyleWeighting
 NVIDIA Corporation NVDA Information Technology  Information Technology Large-Cap Growth 9.19%
 Caterpillar Inc. CAT Industrials  Industrials Large-Cap Growth 4.79%
 Lam Research Corporation LRCX Information Technology  Information Technology Large-Cap Growth 4.60%
 Meta Platforms Inc. (Class A) META Communication Services  Communication Services Large-Cap Growth 4.59%
 Microsoft Corporation MSFT Information Technology  Information Technology Large-Cap Growth 4.04%
 The Goldman Sachs Group, Inc. GS Financials  Financials Large-Cap Value 3.94%
 Apple Inc. AAPL Information Technology  Information Technology Large-Cap Growth 3.75%
 Copart, Inc. CPRT Industrials  Industrials Large-Cap Growth 3.38%
 Lennar Corporation LEN Consumer Discretionary  Consumer Discretionary Large-Cap Value 3.07%
 Verizon Communications Inc. VZ Communication Services  Communication Services Large-Cap Value 2.74%
 3M Company MMM Industrials  Industrials Large-Cap Growth 2.64%
 Chevron Corporation CVX Energy  Energy Large-Cap Value 2.54%
 Broadcom Inc. AVGO Information Technology  Information Technology Large-Cap Growth 2.23%
 PulteGroup, Inc. PHM Consumer Discretionary  Consumer Discretionary Mid-Cap Value 2.01%
 Booking Holdings Inc. BKNG Consumer Discretionary  Consumer Discretionary Large-Cap Growth 1.76%
 Deckers Outdoor Corporation DECK Consumer Discretionary  Consumer Discretionary Mid-Cap Growth 1.50%
 Mastercard Incorporated MA Financials  Financials Large-Cap Growth 1.47%
 ASML Holding N.V. (New York Registry Shares) ASML Information Technology  Information Technology Large-Cap Growth 1.33%
 Alphabet Inc. (Class A) GOOGL Communication Services  Communication Services Large-Cap Growth 1.23%
 Fair Isaac Corporation FICO Information Technology  Information Technology Large-Cap Growth 1.15%
 HCA Healthcare, Inc. HCA Health Care  Health Care Large-Cap Growth 1.01%
 Intesa Sanpaolo SpA ISP.IM Financials  Financials Large-Cap Value 0.95%
 The Procter & Gamble Company PG Consumer Staples  Consumer Staples Large-Cap Growth 0.83%
 Volvo AB (Class B) VOLVB.SS Industrials  Industrials Large-Cap Value 0.81%
 Credit Agricole S.A. ACA.FP Financials  Financials Large-Cap Value 0.80%
 AXA S.A. CS.FP Financials  Financials Large-Cap Value 0.77%
 Stellantis N.V. STLAM.IM Consumer Discretionary  Consumer Discretionary Large-Cap Value 0.72%
 O'Reilly Automotive, Inc. ORLY Consumer Discretionary  Consumer Discretionary Large-Cap Growth 0.71%
 BNP Paribas S.A. BNP.FP Financials  Financials Large-Cap Value 0.70%
 Enel SpA ENEL.IM Utilities  Utilities Large-Cap Value 0.69%
 Anglo American Plc AAL.LN Materials  Materials Large-Cap Value 0.67%
 Nordea Bank Abp NDA.FH Financials  Financials Large-Cap Value 0.67%
 Eni SpA ENI.IM Energy  Energy Large-Cap Value 0.66%
 Applied Materials, Inc. AMAT Information Technology  Information Technology Large-Cap Growth 0.65%
 Rio Tinto Plc RIO.LN Materials  Materials Large-Cap Value 0.65%
 Brinker International, Inc. EAT Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.63%
 BASF SE BAS.GY Materials  Materials Large-Cap Value 0.63%
 Primoris Services Corporation PRIM Industrials  Industrials Small-Cap Growth 0.63%
 Patrick Industries, Inc. PATK Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.61%
 British American Tobacco Plc BATS.LN Consumer Staples  Consumer Staples Large-Cap Value 0.60%
 Agilysys, Inc. AGYS Information Technology  Information Technology Small-Cap Growth 0.60%
 The Bancorp, Inc. TBBK Financials  Financials Small-Cap Growth 0.59%
 Orange ORA.FP Communication Services  Communication Services Large-Cap Value 0.58%
 Equinor ASA EQNR.NO Energy  Energy Large-Cap Value 0.58%
 A.P. Moeller - Maersk A/S (Class B) MAERSKB.DC Industrials  Industrials Mid-Cap Value 0.58%
 Engie S.A. ENGI.FP Utilities  Utilities Large-Cap Value 0.57%
 Ultra Clean Holdings, Inc. UCTT Information Technology  Information Technology Small-Cap Growth 0.56%
 Mercedes-Benz Group AG MBG.GY Consumer Discretionary  Consumer Discretionary Large-Cap Value 0.55%
 Gibraltar Industries, Inc. ROCK Industrials  Industrials Small-Cap Growth 0.54%
 Veeco Instruments Inc. VECO Information Technology  Information Technology Small-Cap Growth 0.54%
 VeriSign, Inc. VRSN Information Technology  Information Technology Mid-Cap Growth 0.53%
 Enerpac Tool Group Corp. EPAC Industrials  Industrials Small-Cap Growth 0.51%
 Bayerische Motoren Werke (BMW) AG BMW.GY Consumer Discretionary  Consumer Discretionary Large-Cap Value 0.50%
 Exxon Mobil Corporation XOM Energy  Energy Large-Cap Value 0.49%
 Hapag-Lloyd AG HLAG.GY Industrials  Industrials Large-Cap Value 0.48%
 Napco Security Technologies, Inc. NSSC Information Technology  Information Technology Small-Cap Growth 0.47%
 IDEXX Laboratories, Inc. IDXX Health Care  Health Care Large-Cap Growth 0.46%
 Sonic Automotive, Inc. SAH Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.46%
 The Buckle, Inc. BKE Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.45%
 The Cheesecake Factory Incorporated CAKE Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.45%
 Huron Consulting Group Inc. HURN Industrials  Industrials Small-Cap Growth 0.43%
 H&E Equipment Services, Inc. HEES Industrials  Industrials Small-Cap Growth 0.43%
 Upbound Group Inc. UPBD Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.41%
 Catalyst Pharmaceuticals, Inc. CPRX Health Care  Health Care Small-Cap Growth 0.40%
 Photronics, Inc. PLAB Information Technology  Information Technology Small-Cap Value 0.39%
 CTS Corporation CTS Information Technology  Information Technology Small-Cap Growth 0.39%
 Cohu, Inc. COHU Information Technology  Information Technology Small-Cap Value 0.38%
 The Andersons, Inc. ANDE Consumer Staples  Consumer Staples Small-Cap Value 0.38%
 Dave & Buster's Entertainment, Inc. PLAY Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.38%
 Mettler-Toledo International Inc. MTD Health Care  Health Care Large-Cap Growth 0.35%
 The Greenbrier Companies, Inc. GBX Industrials  Industrials Small-Cap Value 0.33%
 Marten Transport, Ltd. MRTN Industrials  Industrials Small-Cap Value 0.33%
 United Rentals, Inc. URI Industrials  Industrials Large-Cap Value 0.32%
 Solventum Corporation SOLV Health Care  Health Care Mid-Cap Value 0.32%
 RPC, Inc. RES Energy  Energy Small-Cap Value 0.30%
 U.S. Silica Holdings, Inc. SLCA Energy  Energy Small-Cap Value 0.27%
 Comfort Systems USA, Inc. FIX Industrials  Industrials Mid-Cap Growth 0.26%
 Wingstop Inc. WING Consumer Discretionary  Consumer Discretionary Mid-Cap Growth 0.26%
 Wabash National Corporation WNC Industrials  Industrials Small-Cap Value 0.25%
 KLA Corporation KLAC Information Technology  Information Technology Large-Cap Growth 0.25%
 Ecovyst Inc. ECVT Materials  Materials Small-Cap Value 0.24%
 BlueLinx Holdings Inc. BXC Industrials  Industrials Small-Cap Value 0.23%
 Verisk Analytics, Inc. (Class A) VRSK Industrials  Industrials Large-Cap Growth 0.23%
 Toll Brothers, Inc. TOL Consumer Discretionary  Consumer Discretionary Mid-Cap Value 0.22%
 Metallus Inc. MTUS Materials  Materials Small-Cap Value 0.22%
 e.l.f. Beauty, Inc. ELF Consumer Staples  Consumer Staples Mid-Cap Growth 0.22%
 KB Home KBH Consumer Discretionary  Consumer Discretionary Mid-Cap Value 0.21%
 Aon Plc (Class A) AON Financials  Financials Large-Cap Growth 0.21%
 Aflac Incorporated AFL Financials  Financials Large-Cap Value 0.20%
 Digi International Inc. DGII Information Technology  Information Technology Small-Cap Value 0.20%
 BJ's Restaurants, Inc. BJRI Consumer Discretionary  Consumer Discretionary Small-Cap Growth 0.20%
 SilverBow Resources, Inc. SBOW Energy  Energy Small-Cap Value 0.20%
 AAON, Inc. AAON Industrials  Industrials Mid-Cap Growth 0.19%
 Energy Recovery, Inc. ERII Industrials  Industrials Small-Cap Growth 0.19%
 NewMarket Corporation NEU Materials  Materials Mid-Cap Growth 0.18%
 Standex International Corporation SXI Industrials  Industrials Small-Cap Growth 0.18%
 Allison Transmission Holdings, Inc. ALSN Industrials  Industrials Mid-Cap Growth 0.18%
 Tri Pointe Homes, Inc. TPH Consumer Discretionary  Consumer Discretionary Small-Cap Value 0.18%
 BellRing Brands, Inc. BRBR Consumer Staples  Consumer Staples Mid-Cap Growth 0.18%
 Eagle Materials Inc. EXP Materials  Materials Mid-Cap Growth 0.17%
 Cadence Design Systems, Inc. CDNS Information Technology  Information Technology Large-Cap Growth 0.17%
 Taylor Morrison Home Corporation TMHC Consumer Discretionary  Consumer Discretionary Mid-Cap Value 0.17%
 GMS Inc. GMS Industrials  Industrials Small-Cap Growth 0.17%
 InterDigital, Inc. IDCC Information Technology  Information Technology Small-Cap Growth 0.16%
 MYR Group Inc. MYRG Industrials  Industrials Small-Cap Growth 0.14%
 Arcturus Therapeutics Holdings Inc. ARCT Health Care  Health Care Small-Cap Growth 0.14%
 Cross Country Healthcare, Inc. CCRN Health Care  Health Care Small-Cap Value 0.12%
 Inter Parfums, Inc. IPAR Consumer Staples  Consumer Staples Small-Cap Growth 0.12%
 ON Semiconductor Corporation ON Information Technology  Information Technology Large-Cap Value 0.11%
 Copa Holdings, S.A. CPA Industrials  Industrials Small-Cap Value 0.11%
 Biogen Inc. BIIB Health Care  Health Care Large-Cap Value 0.10%
 Axcelis Technologies, Inc. ACLS Information Technology  Information Technology Small-Cap Growth 0.10%
 Fortinet, Inc. FTNT Information Technology  Information Technology Large-Cap Growth 0.10%
 Titan Machinery Inc. TITN Industrials  Industrials Small-Cap Value 0.09%
 General Mills, Inc. GIS Consumer Staples  Consumer Staples Large-Cap Value 0.08%
 The Hershey Company HSY Consumer Staples  Consumer Staples Large-Cap Growth 0.08%
 Marathon Petroleum Corporation MPC Energy  Energy Large-Cap Value 0.07%
 O-I Glass, Inc. OI Materials  Materials Small-Cap Value 0.07%
 Valero Energy Corporation VLO Energy  Energy Large-Cap Value 0.05%
 Svitzer A/S SVITZR.DC Industrials  Industrials Small-Cap Value 0.03%
 Omnicom Group Inc. OMC Communication Services  Communication Services Mid-Cap Growth 0.01%
 
Total Number of Holdings:    121
Underlying Securities information represented above is as of 07/16/2024 but will vary with future fluctuations in the market.

Risk Considerations

Equity Risk. An investment in a portfolio containing common stocks is subject to certain risks, such as an economic recession and the possible deterioration of either the financial condition of the issuers of the equity securities or the general condition of the stock market.

Sector Concentration Risk. A portfolio which is concentrated in an individual sector is subject to additional risks, including limited diversification.

Buy & Hold Risk – Taxable Trusts. This UIT is a buy and hold strategy and investors should consider their ability to hold the trust until maturity. There may be tax consequences unless units are purchased in an IRA or other qualified plan.

COVID-19 Economic Impact Risk. The ongoing effects of the COVID-19 global pandemic, or the potential impacts of any future public health crisis, may cause significant volatility and uncertainty in global financial markets. While vaccines have been developed, there is no guarantee that vaccines will be effective against future variants of the disease.

Foreign Securities Risk. Securities of non-U.S. issuers are subject to additional risks, including currency fluctuations, political risks, withholding, the lack of adequate financial information, and exchange control restrictions impacting non-U.S. issuers.

Large-Cap Risk. Large capitalization companies may grow at a slower rate than the overall market.

Market Disruption Risk. Ongoing armed conflicts between Russia and Ukraine in Europe and among Israel, Hamas and other militant groups in the Middle East, have caused and could continue to cause significant market disruptions and volatility within the markets in Russia, Europe, the Middle East and the United States. The hostilities and sanctions resulting from those hostilities could have a significant impact on certain investments as well as performance.

Small-Cap and Mid-Cap Risk. An investment in a portfolio containing small-cap and mid-cap companies is subject to additional risks, as the share prices of small-cap companies and certain mid-cap companies are often more volatile than those of larger companies due to several factors, including limited trading volumes, products, financial resources, management inexperience and less publicly available information.

Technology Risk. The companies engaged in the information technology sector are subject to fierce competition, high research and development costs, and their products and services may be subject to rapid obsolescence. Technology company stocks, especially those which are Internet-related, may experience extreme price and volume fluctuations that are often unrelated to their operating performance.

Volatility Risk. The value of the securities held by the trust may be subject to steep declines or increased volatility due to changes in performance or perception of the issuers.

Operational Risk. As the use of Internet technology has become more prevalent in the course of business, the trust has become more susceptible to potential operational risks through breaches in cybersecurity.

The style and capitalization characteristics used to describe the stocks are designed to help you understand how they fit into your overall investment plan. Due to changes in the value of the stocks the characteristics may vary over time. In general, growth stocks have high relative price-to-book ratios while value stocks have low relative price-to-book ratios. In determining market capitalization characteristics, we analyze the market capitalizations of the 3,000 largest stocks in the U.S. (excluding foreign securities, ADRs, limited partnerships and regulated investment companies) on a monthly basis. Companies with market capitalizations among the largest 10% are considered Large-Cap securities, the next 20% are considered Mid-Cap securities and the remaining securities are considered Small-Cap securities.

You should carefully consider the trust's investment objectives, risks, and charges and expenses before investing. Contact your financial professional or call First Trust Portfolios, L.P. at 1.800.621.1675 to request a prospectus, which contains this and other information about the trust. Read it carefully before you invest.

This product information does not constitute an offer to sell, or a solicitation of an offer to buy securities in any state to any person to whom it is not lawful to make such an offer. Sales of any of these securities must include prospectus delivery and the services of a retail broker/dealer duly licensed in the appropriate states.

Not FDIC Insured, Not Bank Guaranteed and May Lose Value.

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