First Trust Senior Floating Rate Income Fund II : Semi-Annual Report for the period ended November 30, 2024

Published: 2025-01-29 01:06:05 ET FCT

FIRST TRUST

SENIOR FLOATING RATE INCOME FUND II (FCT)

SEMI-ANNUAL REPORT

FOR THE SIX MONTHS ENDED

NOVEMBER 30, 2024

Table of Contents

First Trust Senior Floating Rate Income Fund II (FCT)

Semi-Annual Report

November 30, 2024

At a Glance

Portfolio Management

Portfolio of Investments

Statement of Assets and Liabilities

Statement of Operations

Statements of Changes in Net Assets

Statement of Cash Flows

Financial Highlights

Notes to Financial Statements

Additional Information

Performance and Risk Disclosure

There is no assurance that First Trust Senior Floating Rate Income Fund II (the "Fund") will achieve its investment objectives. The Fund is subject to market risk, which is the possibility that the market values of securities owned by the Fund will decline and that the value of the Fund's shares may therefore be less than what you paid for them. Accordingly, you can lose money by investing in the Fund. See "Principal Risks" in the Additional Information section of this report for a discussion of certain other risks of investing in the Fund.

Performance data quoted represents past performance, which is no guarantee of future results, and current performance may be lower or higher than the figures shown. For the most recent month-end performance figures, please visit www.ftportfolios.comor speak with your financial advisor. Investment returns, net asset value and common share price will fluctuate and Fund shares, when sold, may be worth more or less than their original cost.

First Trust Advisors L.P., the Fund's advisor, may also periodically provide additional information on Fund performance on the Fund's web page at www.ftportfolios.com.

How to Read This Report

This report contains information that may help you evaluate your investment in the Fund. It includes details about the Fund and presents data that provides insight into the Fund's performance and investment approach.

The statistical information that follows may help you understand the Fund's performance compared to that of a relevant market benchmark.

The material risks of investing in the Fund are spelled out in the prospectus, the statement of additional information, this report and other Fund regulatory filings.

First Trust Senior Floating Rate Income Fund II (FCT)

"AT A GLANCE"

As of November 30, 2024 (Unaudited)

Fund Statistics

Symbol on New York Stock Exchange

FCT

Common Share Price

$10.44

Common Share Net Asset Value ("NAV")

$10.87

Premium (Discount) to NAV

(3.96)%

Net Assets Applicable to Common Shares

$282,436,187

Current Monthly Distribution per Common Share(1)

$0.0970

Current Annualized Distribution per Common Share

$1.1640

Current Distribution Rate on Common Share Price(2)

11.15%

Current Distribution Rate on NAV(2)

10.71%

Common Share Price & NAV (weekly closing price)

Common Share Price

NAV

$12.00

$11.00

$10.00

$9.00

/24

11/24

1/2

12/

Performance

Average Annual Total Returns

Inception

6 Months Ended

1 Year Ended

5 Years Ended

10 Years Ended

(5/25/04)

11/30/24

to 11/30/24

Fund Performance(3)

NAV

4.53%

9.89%

5.47%

5.22%

4.66%

Market Value

5.47%

19.56%

7.03%

5.97%

4.21%

Index Performance

Morningstar® LSTA® US Leveraged

Loan Index

4.11%

10.10%

6.06%

4.95%

5.02%

Page 1

First Trust Senior Floating Rate Income Fund II (FCT) "AT A GLANCE" (Continued)

As of November 30, 2024 (Unaudited)

Credit Quality (S&P Global Ratings)(4)

% of Total

Investments

BBB-

1.7%

BB+

2.5

4.8

BB-

13.4

B+

14.7

37.0

B-

19.2

CCC+

3.1

CCC

0.4

CCC-

0.3

0.9

Not Rated

1.4

Money Market Funds

0.6

Total

100.0%

% of Total

Top 10 Issuers

Investments

Clarivate Analytics PLC (Camelot)

2.3%

CCC Intelligent Solutions, Inc.

2.2

Dun & Bradstreet Corp.

2.1

Alliant Holdings I LLC

2.1

IRB Holding Corp. (Arby's/Inspire Brands)

2.0

Hub International Ltd.

1.9

USI, Inc.

1.8

Informatica Corp.

1.7

Amwins Group, Inc.

1.6

AssuredPartners, Inc.

1.6

Total

19.3%

% of Total

Industry Classification

Investments

Software

17.6%

Insurance

15.0

Professional Services

7.6

Health Care Providers & Services

6.3

Health Care Technology

6.0

Containers & Packaging

5.3

Hotels, Restaurants & Leisure

4.9

IT Services

4.8

Media

4.1

Commercial Services & Supplies

3.4

Food Products

2.9

Capital Markets

2.5

Machinery

2.2

Specialty Retail

2.2

Diversified Telecommunication Services

2.1

Diversified Consumer Services

2.0

Aerospace & Defense

1.7

Health Care Equipment & Supplies

1.5

Life Sciences Tools & Services

1.3

Consumer Finance

0.9

Broadline Retail

0.9

Financial Services

0.9

Trading Companies & Distributors

0.7

Electronic Equipment, Instruments & Components

0.7

Automobiles & Components

0.6

Money Market Funds

0.6

Chemicals

0.3

Entertainment

0.3

Building Products

0.3

Independent Power & Renewable Electricity Producers

0.2

Construction & Engineering

0.1

Household Durables

0.1

Pharmaceuticals

0.0*

Total

100.0%

* Amount is less than 0.1%.

Page 2

Portfolio Management

First Trust Senior Floating Rate Income Fund II (FCT)

Semi-Annual Report

November 30, 2024 (Unaudited)

Advisor

The First Trust Advisors L.P. ("First Trust") Leveraged Finance Team is comprised of 17 experienced investment professionals specializing in below investment grade securities. The team is comprised of portfolio management, research, trading and operations personnel. As of November 30, 2024, the First Trust Leveraged Finance Team managed or supervised approximately $6.6 billion in senior secured bank loans and high-yield bonds. These assets are managed across various strategies, including two closed-end funds, an open-end fund, and five exchange-traded funds on behalf of retail and institutional clients.

Portfolio Management Team

William Housey, CFA - Managing Director of Fixed Income, Senior Portfolio Manager

Jeffrey Scott, CFA - Senior Vice President, Portfolio Manager

Page 3

First Trust Senior Floating Rate Income Fund II (FCT)

Portfolio of Investments

November 30, 2024 (Unaudited)

Principal

Stated

Value

Description

Rate (a)

Maturity (b)

Value

SENIOR FLOATING-RATE LOAN INTERESTS (c) - 110.0%

Aerospace & Defense - 2.1%

$ 383,179

BBA Aviation (Signature Aviation US Holdings, Inc./Brown Group

Holding LLC), Term Loan B1, 1 Mo. CME Term SOFR + 2.50%,

0.50% Floor

7.07%

07/01/31

385,287

574,308

Signia Aerospace LLC, Term Loan B, 1 Mo. CME Term SOFR +

3.00%, 0.50% Floor

7.40%

11/22/31

575,744

397,651

Transdigm, Inc., Term Loan J, 3 Mo. CME Term SOFR + 2.50%,

0.00% Floor

7.10%

02/28/31

398,006

4,330,065

Transdigm, Inc., Term Loan K, 3 Mo. CME Term SOFR + 2.75%,

0.00% Floor

7.35%

03/22/30

4,337,859

122,714

Transdigm, Inc., Term Loan L, 3 Mo. CME Term SOFR + 2.50%,

0.00% Floor

7.32%

01/19/32

122,801

5,819,697

Alternative Carriers - 1.0%

2,640,010

Level 3 Financing, Inc., Term Loan B1, 1 Mo. CME Term SOFR +

6.56%, 2.00% Floor

11.13%

04/16/29

2,702,447

Application Software - 17.1%

619,749

Applied Systems, Inc., Term Loan B, 3 Mo. CME Term SOFR +

3.00%, 0.00% Floor

7.60%

02/24/31

625,786

7,099,832

CCC Intelligent Solutions, Inc., Term Loan B, 1 Mo. CME Term

SOFR + CSA + 2.25%, 0.50% Floor

6.94%

09/21/28

7,145,093

608,599

ConnectWise LLC, Term Loan B, 3 Mo. CME Term SOFR + CSA

+ 3.50%, 0.50% Floor

8.37%

09/30/28

612,251

622,213

Darktrace PLC (Leia Finco US LLC), Second Lien Term Loan, 3

Mo. CME Term SOFR + 5.25%, 0.00% Floor

9.89%

10/09/32

617,285

3,677,127

Darktrace PLC (Leia Finco US LLC), Term Loan B, 3 Mo. CME

Term SOFR + 3.25%, 0.00% Floor

7.89%

10/09/31

3,684,408

372,911

Envestnet, Inc. (BCPE Pequod Buyer, Inc.), Term Loan B, 1 Mo.

CME Term SOFR + 3.50%, 0.00% Floor

8.08%

11/30/31

375,974

3,425,026

Epicor Software Corp., Term Loan E, 1 Mo. CME Term SOFR +

3.25%, 0.75% Floor

7.82%

05/30/31

3,454,824

4,117,003

Genesys Cloud Services Holding II LLC, Combined Term Loan B,

1 Mo. CME Term SOFR + 3.00%, 0.75% Floor

7.57%

12/01/27

4,158,811

398,037

Inmar, Inc., Term Loan B, 1 Mo. CME Term SOFR + 5.00%,

0.50% Floor

9.57%

10/31/31

399,680

453,762

Inmar, Inc., Term Loan B, 3 Mo. CME Term SOFR + 5.00%,

0.50% Floor

9.51%-9.60%

10/31/31

455,634

1,800,976

Internet Brands, Inc. (Web MD/MH Sub I. LLC), 2023 New Term

Loan B, 1 Mo. CME Term SOFR + 4.25%, 0.50% Floor

8.82%

05/03/28

1,805,739

1,265,863

Internet Brands, Inc. (Web MD/MH Sub I. LLC), Second Lien

Term Loan, 1 Mo. CME Term SOFR + 6.25%, 0.00% Floor

10.82%

02/23/29

1,243,483

1,038,887

Ivanti Software, Inc., Term Loan B, 3 Mo. CME Term SOFR +

CSA + 4.25%, 0.75% Floor

9.12%

12/01/27

796,177

2,250,874

LogMeIn, Inc. (GoTo Group, Inc.), First Lien First Out TL, 1 Mo.

CME Term SOFR + CSA + 4.75%, 0.00% Floor

9.47%

04/30/28

2,011,719

2,006,117

LogMeIn, Inc. (GoTo Group, Inc.), First Lien Second Out TL, 1

Mo. CME Term SOFR + CSA + 4.75%, 0.00% Floor (d)

9.47%

04/30/28

818,496

1,911,016

McAfee Corp. (Condor Merger Sub, Inc.), Term Loan B, 1 Mo.

CME Term SOFR + 3.25%, 0.50% Floor

7.91%

03/01/29

1,922,005

353,878

N-Able, Inc., Term Loan B, 3 Mo. CME Term SOFR + CSA +

2.75%, 0.50% Floor

7.53%

07/19/28

356,089

1,389,077

NCR Digital Banking (Dragon Buyer, Inc.), Term Loan B, 3 Mo.

CME Term SOFR + 3.25%, 0.00% Floor

7.85%

09/30/31

1,394,432

Page 4

See Notes to Financial Statements

First Trust Senior Floating Rate Income Fund II (FCT)

Portfolio of Investments (Continued)

November 30, 2024 (Unaudited)

Principal

Stated

Value

Description

Rate (a)

Maturity (b)

Value

SENIOR FLOATING-RATE LOAN INTERESTS (c) (Continued)

Application Software (Continued)

$ 1,291,539

Open Text Corp. (GXS), Term Loan B, 1 Mo. CME Term SOFR +

1.75%, 0.50% Floor

6.32%

01/31/31

1,295,982

933,251

Qlik Technologies (Project Alpha Intermediate Holding, Inc.),

Incremental Term Loan B, 1 Mo. CME Term SOFR + 3.25%,

0.50% Floor

7.77%

10/28/30

939,994

126,629

Qlik Technologies (Project Alpha Intermediate Holding, Inc.),

Second Lien Term Loan, 1 Mo. CME Term SOFR + 5.00%,

0.50% Floor

9.53%

11/21/32

127,738

1,013,547

Qlik Technologies (Project Alpha Intermediate Holding, Inc.), Term

Loan B, 1 Mo. CME Term SOFR + 3.25%, 0.50% Floor

7.77%

10/28/30

1,020,870

130,941

RealPage, Inc., Term Loan B, 1 Mo. CME Term SOFR + CSA +

3.00%, 0.50% Floor

7.69%

04/24/28

130,302

3,300,267

SolarWinds Holdings, Inc., Term Loan B, 1 Mo. CME Term SOFR

+ 2.75%, 0.00% Floor

7.32%

02/05/30

3,329,144

2,045,086

Solera Holdings, Inc. (Polaris Newco), Term Loan B, 3 Mo. CME

Term SOFR + CSA + 4.00%, 0.50% Floor

8.85%

06/04/28

2,055,546

3,315,458

Ultimate Software Group (UKG, Inc.), Term Loan B, 3 Mo. CME

Term SOFR + 3.00%, 0.00% Floor

7.62%

02/10/31

3,341,434

4,045,581

Veeam Software Holdings Ltd. (VS Buyer LLC), Term Loan B, 1

Mo. CME Term SOFR + 2.75%, 0.00% Floor

7.36%

04/14/31

4,088,566

48,207,462

Asset Management & Custody Banks - 2.9%

475,041

Alter Domus (Chrysaor Bidco SARL), Term Loan B, 3 Mo. CME

Term SOFR + 3.50%, 0.50% Floor

8.12%

10/31/31

478,604

3,381,415

Ascensus Holdings, Inc. (Mercury), First Lien Term Loan, 1 Mo.

CME Term SOFR + CSA + 3.50%, 0.50% Floor

8.19%

08/02/28

3,412,406

244,685

Assetmark Financial Holdings (GTCR Everest Borrower LLC),

Initial Term Loan B, 3 Mo. CME Term SOFR + 3.00%, 0.00%

Floor

7.60%

09/05/31

246,463

1,588,689

Edelman Financial Engines Center LLC, Second Lien Term Loan,

1 Mo. CME Term SOFR + 5.25%, 0.00% Floor

9.82%

10/06/28

1,600,937

2,389,582

Edelman Financial Engines Center LLC, Term Loan B, 1 Mo.

CME Term SOFR + 3.25%, 0.00% Floor

7.82%

04/07/28

2,407,218

8,145,628

Automotive Parts & Equipment - 0.7%

2,000,000

Clarios Global, L.P. (Power Solutions), Term Loan B, 1 Mo. CME

Term SOFR + 2.50%, 0.00% Floor

7.07%

05/06/30

2,015,840

Automotive Retail - 1.8%

618,170

Highline Aftermarket Acquisition LLC, Term Loan B, 1 Mo. CME

Term SOFR + 4.00%, 0.75% Floor

8.57%

11/09/27

624,352

1,744,407

Les Schwab Tire Centers (LS Group OpCo Acq. LLC), Term B

Loan, 1 Mo. CME Term SOFR + 3.00%, 0.00% Floor

7.57%

04/23/31

1,753,949

2,716,484

Mavis Tire Express Services Topco Corp., Term Loan B, 1 Mo.

CME Term SOFR + 3.50%, 0.75% Floor

8.07%

05/04/28

2,742,725

5,121,026

Broadcasting - 1.2%

3,459,557

Nexstar Media, Inc., Incremental Term Loan B-4, 1 Mo. CME

Term SOFR + CSA + 2.50%, 0.00% Floor

7.19%

09/19/26

3,475,246

Broadline Retail - 1.0%

2,866,646

Peer Holding III B.V. (Action Holding), USD Term Loan B5, 3

Mo. CME Term SOFR + 3.00%, 0.00% Floor

7.60%

07/01/31

2,893,521

See Notes to Financial Statements

Page 5

First Trust Senior Floating Rate Income Fund II (FCT)

Portfolio of Investments (Continued)

November 30, 2024 (Unaudited)

Principal

Stated

Value

Description

Rate (a)

Maturity (b)

Value

SENIOR FLOATING-RATE LOAN INTERESTS (c) (Continued)

Building Products - 0.3%

$ 259,029

Miter Brands Acq. Holdco, Inc. (MIWD), Term Loan B, 1 Mo.

CME Term SOFR + 3.00%, 0.00% Floor

7.57%

03/28/31

261,741

630,290

TAMKO Building Products, Term Loan B, 1 Mo. CME Term

SOFR + 2.75%, 0.00% Floor

7.34%

09/20/30

635,017

896,758

Cable & Satellite - 0.1%

386,459

Charter Communications Operating LLC, Term Loan B4, 3 Mo.

CME Term SOFR + 2.00%, 0.00% Floor

6.59%

12/07/30

386,181

Casinos & Gaming - 0.5%

674,110

Caesars Entertainment, Inc. (f/k/a Eldorado Resorts), 2031 Maturity

Term Loan B1, 1 Mo. CME Term SOFR + 2.25%, 0.50% Floor . .

6.82%

02/06/31

678,428

778,378

Golden Nugget, Inc. (Fertitta Entertainment LLC), Term Loan B, 1

Mo. CME Term SOFR + 3.50%, 0.50% Floor

8.07%

01/27/29

783,893

1,462,321

Commercial Printing - 1.2%

3,448,366

Multi-Color Corp. (LABL, Inc.), Initial Dollar Term Loan, 1 Mo.

CME Term SOFR + CSA + 5.00%, 0.50% Floor

9.67%

10/29/28

3,376,381

Commodity Chemicals - 0.4%

1,019,192

Charter Next Generation, Inc., Term Loan B, 1 Mo. CME Term

SOFR + 3.00%, 0.75% Floor

7.65%

12/01/30

1,028,569

Construction & Engineering - 0.2%

506,848

APi Group DE, Inc., Term Loan B, 1 Mo. CME Term SOFR +

2.00%, 0.00% Floor

6.57%

01/03/29

509,263

Consumer Finance - 1.1%

3,115,001

Creative Planning Group (CPI Holdco), Initial Term Loan, 1 Mo.

CME Term SOFR + 2.00%, 0.00% Floor

6.57%

05/19/31

3,123,614

Data Processing & Outsourced Services - 0.6%

1,633,331

Consilio (Skopima Consilio Parent LLC), Initial Term Loan, 1 Mo.

CME Term SOFR + CSA + 4.00%, 0.50% Floor

8.69%

05/17/28

1,647,476

Diversified Support Services - 0.7%

1,993,471

First Advantage Corp., Term Loan B, 1 Mo. CME Term SOFR +

3.25%, 0.00% Floor

7.82%

10/31/31

2,015,479

Electronic Equipment & Instruments - 0.8%

1,402,696

Chamberlain Group, Inc. (Chariot), Term Loan B, 1 Mo. CME

Term SOFR + CSA + 3.25%, 0.50% Floor

7.92%

11/03/28

1,411,245

851,963

Verifone Systems, Inc., Term Loan B, 3 Mo. CME Term SOFR +

CSA + 4.00%, 0.00% Floor

8.78%

08/20/25

800,926

2,212,171

Environmental & Facilities Services - 1.5%

886,882

Allied Universal Holdco LLC, Initial Term Loan, 1 Mo. CME

Term SOFR + CSA + 3.75%, 0.50% Floor

8.42%

05/14/28

893,733

3,306,169

GFL Environmental, Inc. (Wrangler Holdco Corp.), 2024 Refi Term

Loan, 3 Mo. CME Term SOFR + 2.00%, 0.50% Floor

6.61%

06/30/31

3,320,171

4,213,904

Page 6

See Notes to Financial Statements

First Trust Senior Floating Rate Income Fund II (FCT)

Portfolio of Investments (Continued)

November 30, 2024 (Unaudited)

Principal

Stated

Value

Description

Rate (a)

Maturity (b)

Value

SENIOR FLOATING-RATE LOAN INTERESTS (c) (Continued)

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

7.32%

08/24/28

2,537,222

611,756

Concentra Health Services, Inc., Term Loan B, 1 Mo. CME Term

SOFR + 2.25%, 0.00% Floor

6.82%

07/31/31

617,874

565,765

Hanger, Inc., Term Loan B, 1 Mo. CME Term SOFR + 3.50%,

0.00% Floor

8.07%

10/23/31

572,074

1,870,539

IVC Evidensia (VetStrategy Canada/IVC Acquisition Midco Ltd.),

Facility B10, 3 Mo. CME Term SOFR + 4.75%, 0.50% Floor . . . .

9.39%

12/06/28

1,888,664

3,124,218

Select Medical Corp., Term Loan B-2, 1 Mo. CME Term SOFR +

2.00%, 0.00% Floor

6.53%

11/30/31

3,132,028

3,991,023

Southern Veterinary Partners LLC, Term Loan B, 3 Mo. CME

Term SOFR + 3.25%, 0.00% Floor

7.71%

11/30/31

4,032,350

12,780,212

Health Care Services - 2.9%

220,530

Agiliti Health, Inc. (Universal Hospital Services), Term Loan B, 3

Mo. CME Term SOFR + 3.00%, 0.00% Floor

7.59%

05/01/30

217,499

424,406

Agiliti Health, Inc. (Universal Hospital Services), Term Loan B, 6

Mo. CME Term SOFR + 3.00%, 0.00% Floor

7.26%

05/01/30

418,572

1,687,354

Ensemble RCM LLC (Ensemble Health), 2024 Refi Loan, 3 Mo.

CME Term SOFR + 3.00%, 0.00% Floor

7.59%

08/01/29

1,706,514

2,569,334

ExamWorks Group, Inc. (Electron Bidco), Term Loan B, 1 Mo.

CME Term SOFR + CSA + 3.00%, 0.50% Floor

7.69%

11/01/28

2,588,810

722,737

R1 RCM, Inc. (Raven Acq. Holdings LLC), Term Loan B, 1 Mo.

CME Term SOFR + 3.25%, 0.00% Floor

7.86%

11/19/31

727,525

386,174

Radnet Management, Inc., Refi Term Loan, 3 Mo. CME Term

SOFR + 2.25%, 0.00% Floor

6.77%

04/18/31

388,451

2,139,250

Surgery Centers Holdings, Inc., 2024 Refi Term Loan, 1 Mo. CME

Term SOFR + 2.75%, 0.00% Floor

7.34%

12/19/30

2,157,851

8,205,222

Health Care Supplies - 1.7%

4,731,969

Medline Borrower, L.P. (Mozart), Term Loan B, 1 Mo. CME Term

SOFR + 2.25%, 0.50% Floor

6.86%

10/23/28

4,765,684

Health Care Technology - 7.0%

4,776,940

athenahealth Group, Inc., Term Loan B, 1 Mo. CME Term SOFR +

3.25%, 0.50% Floor

7.82%

02/15/29

4,803,380

122,804

Clario (f/k/a eResearch Technology, Inc.), Term Loan B, 1 Mo.

CME Term SOFR + 4.00%, 1.00% Floor

8.57%

02/04/27

123,787

135,747

Cotiviti, Inc. (Verscend), Fixed Rate Term Loan, Fixed Rate at

7.63%

05/01/31

137,257

3,351,880

Cotiviti, Inc. (Verscend), Floating Rate Term Loan, 1 Mo. CME

Term SOFR + 3.00% Floor

7.67%

05/01/31

3,369,696

4,576,069

Mediware (Wellsky/Project Ruby Ultimate Parent Corp.), Term

Loan B-4, 1 Mo. CME Term SOFR + CSA + 3.00%, 0.00% Floor

7.72%

03/10/28

4,610,390

254,090

PointClickCare Technologies, Inc., Term Loan B, 2 Mo. CME

Term SOFR + 3.25%, 0.00% Floor

7.82%

10/31/31

256,234

3,506,527

Waystar Technologies, Inc., Term Loan B, 1 Mo. CME Term SOFR

+ 2.75%, 0.00% Floor

7.32%

10/22/29

3,531,739

771,256

WS Audiology (Auris Lux III SARL), USD Term Loan B6, 6 Mo.

CME Term SOFR + 3.75%, 0.00% Floor

8.18%

02/28/29

779,450

See Notes to Financial Statements

Page 7

First Trust Senior Floating Rate Income Fund II (FCT)

Portfolio of Investments (Continued)

November 30, 2024 (Unaudited)

Principal

Stated

Value

Description

Rate (a)

Maturity (b)

Value

SENIOR FLOATING-RATE LOAN INTERESTS (c) (Continued)

Health Care Technology (Continued)

$ 2,107,973

Zelis Payments Buyer, Inc., Term Loan B-2, 1 Mo. CME Term

SOFR + 2.75%, 0.00% Floor

7.32%

09/28/29

2,111,399

19,723,332

Home Furnishings - 0.1%

259,513

Hunter Douglas, Inc. (Solis), Term Loan B, 3 Mo. CME Term

SOFR + 3.50%, 0.50% Floor

8.02%

02/25/29

261,080

Hotels, Resorts & Cruise Lines - 0.3%

452,551

Alterra Mountain Company, Term Loan B-6, 1 Mo. CME Term

SOFR + 2.75%, 0.00% Floor

7.32%

08/17/28

454,623

392,994

Wyndham Hotels & Resorts, Inc., 2024 Refi Term Loan, 1 Mo.

CME Term SOFR + CSA + 1.75%, 0.00% Floor

6.32%

05/25/30

395,533

850,156

Independent Power Producers & Energy Traders - 0.2%

643,541

Cornerstone Generation LLC, Term Loan B, 1 Mo. CME Term

SOFR + 3.25%, 0.00% Floor

7.78%

12/31/31

649,304

Industrial Machinery & Supplies & Components - 2.6%

1,937,232

Filtration Group Corp., 2021 Incremental Term Loan B, 1 Mo.

CME Term SOFR + CSA + 3.50%, 0.50% Floor

8.19%

10/21/28

1,955,393

123,490

Gates Global LLC, Term Loan B-5, 1 Mo. CME Term SOFR +

2.25%, 0.50% Floor

6.82%

06/04/31

124,279

960,119

Madison IAQ LLC, Term Loan B, 6 Mo. CME Term SOFR +

2.75%, 0.50% Floor

7.89%

06/21/28

966,533

244,509

nVent Thermal Management (Thermal Borrower), Term Loan B, 1

Mo. CME Term SOFR + 3.50%, 0.00% Floor

8.03%

09/30/31

247,298

2,886,056

Pro Mach, Inc., Term Loan B, 1 Mo. CME Term SOFR + 3.50%,

1.00% Floor

8.07%

08/31/28

2,922,810

611

Service Logic Acq, Inc. (MSHC), Term Loan B, 1 Mo. CME Term

SOFR + 3.50%, 0.75% Floor

8.07%

10/29/27

618

243,286

Service Logic Acq, Inc. (MSHC), Term Loan B, 3 Mo. CME Term

SOFR + 3.50%, 0.75% Floor

8.09%

10/29/27

246,023

249,871

SPX Flow, Inc., Term Loan B, 1 Mo. CME Term SOFR + 3.00%,

0.50% Floor

7.48%

04/05/29

252,060

606,408

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

611,778

7,326,792

Insurance Brokers - 16.9%

6,778,630

Alliant Holdings I LLC, Term Loan B, 1 Mo. CME Term SOFR +

2.75%, 0.00% Floor

7.35%

09/19/31

6,827,606

5,027,488

Amwins Group, Inc., Term Loan B, 1 Mo. CME Term SOFR +

CSA + 2.25%, 0.75% Floor

6.94%

02/19/28

5,054,711

35,974

Ardonagh Midco 3 Ltd., Facility B USD, 3 Mo. CME Term SOFR

+ 3.75%, 0.00% Floor

8.35%

02/15/31

36,379

581,012

Ardonagh Midco 3 Ltd., Facility B USD, 6 Mo. CME Term SOFR

+ 3.75%, 0.00% Floor

8.53%

02/15/31

587,549

5,159,615

AssuredPartners, Inc., 2024 Term Loan B5, 1 Mo. CME Term

SOFR + 3.50%, 0.50% Floor

8.07%

02/14/31

5,200,247

2,938,809

Baldwin Insurance Group Holdings LLC, Term Loan B, 1 Mo.

CME Term SOFR + 3.25%, 0.00% Floor

7.82%

05/27/31

2,968,197

3,963,186

BroadStreet Partners, Inc., Term Loan B, 1 Mo. CME Term SOFR

+ 3.25%, 0.00% Floor

7.82%

06/16/31

3,989,303

Page 8

See Notes to Financial Statements

Disclaimer

First Trust Senior Floating Rate Income Fund II published this content on January 29, 2025, and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on January 29, 2025 at 06:05:17.379.