First Trust Long/Short Equity ETF
First Trust Exchange-Traded Fund III · 1 share class
Fund classification
Classified from what the fund holds · as of 2026 Q2
First Trust Long/Short Equity ETF is an actively managed U.S. equity ETF. 15% of FTLS’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 88% of the fund’s equity).
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- ETF
Fund profile
As filed in the prospectus · 2026 Q1
The First Trust Long/Short Equity ETF s (the Fund ) investment objective is to seek to provide investors with long-term total return.
The fund establishes long and short positions in U.S. exchange-listed equities and ETFs, using quantitative analysis of fundamental, market, technical and statistical attributes to identify securities expected to outperform (long basket) or underperform (the short basket), with preliminary rankings based on an earnings quality model. The portfolio typically holds 80–100% in long positions and 0–50% in short positions, with short proceeds held in cash rather than used to leverage long exposure. Because returns depend on the accuracy of the manager's security selection across both long and short baskets, performance will diverge from broad market returns.
| Share class | Expense ratio |
|---|---|
| FTLS | 1.38% |
Portfolio turnover 245.00% · as of 2026 Q1
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 69.29% |
| Cash & short-term | 1.75% |
| Derivatives | -0.92% |
Look-through blends 1 underlying fund; 1.478% of NAV was not looked through and stays direct-classified.
The outer band is exposure held short — written against the portfolio rather than part of it, which is why it sits outside the ring and why the two are never netted into one figure.
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Information Technology | 23.2% |
| Financials | 18.7% |
| Health Care | 7.8% |
| Industrials | 7.6% |
| 10 smaller | 42.7% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Portfolio growth profile
How much of the fund’s stock holdings are in fast-growing companies · as of 2026 Q2
Share of the fund’s equity (by value) in companies whose trailing five-year revenue — or net-income — growth ranks in the top 25% of U.S. public companies. Foreign and newly-listed holdings are excluded, so the figure covers only part of the book. From SEC filings — not investment advice. How we measure this.
Latest quarter
What changed since the fund's previous filing
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| AAPL | APPLE INCAAPL | 5.89% | $271.35 | $135.12M | 497.9K |
| NVDA | NVIDIA CORPNVDA | 3.45% | $199.57 | $79.28M | 397.2K |
| MSFT | MICROSOFT CORPMSFT | 3.21% | $407.78 | $73.68M | 180.7K |
| GOOGL | ALPHABET INCGOOGL | 2.69% | $384.80 | $61.62M | 160.1K |
| JPM | JP MORGAN CHASE & COMPANYJPM | 2.46% | $313.23 | $56.37M | 180.0K |
| BAC | BANK OF AMERICA CORPBAC | 2.39% | $53.46 | $54.91M | 1.0M |
| — | ASML HOLDING NV | 2.35% | $1,438.99 | $53.86M | 37.4K |
| BRK/B | BERKSHIRE HATHAWAY INCBRK/B | 2.12% | $473.60 | $48.74M | 102.9K |
| QCOM | QUALCOMM INCQCOM | 2.04% | $179.58 | $46.93M | 261.3K |
| COST | COSTCO WHOLESALE CORPCOST | 1.98% | $1,014.53 | $45.38M | 44.7K |
Reported price is the fund's own reported value divided by its own reported shares at 2026-04-30 — not a live quote, and not what the fund paid.
Top 10 positions are 28.57% of net assets, top 25 50.66%, across 392 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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