FCT - First Trust Senior Floating Rate Income Fund II
Printed from CEF Radar (cefradar.com). Source: public filings at the U.S. Securities and Exchange Commission. Last checked: Nov 2, 2026, 12:34 a.m. New York time.
This fund no longer trades. Delisted Aug 10, 2026.
Is anyone targeting this fund?
No - none of the investors we follow has reported owning 5% or more of this fund.
Is the fund doing anything you need to act on?
Nothing right now.
What this means for you
None of the investors we follow has reported owning 5% or more of this fund. That is the normal state for most closed-end funds.
Nothing is required of you. If that changes, the notice appears here within a day of being filed with the regulator.
What happened, and when
-
Aug 10, 2026
The fund's shares stopped trading on the exchange.
Original document → -
Feb 11, 2026
Morgan Stanley sold down below 5% and stopped reporting.
Original document → -
Aug 7, 2025
Morgan Stanley raised its stake to 5.1% (from 3.2%), as a passive investor.
Original document → -
Nov 14, 2024
Morgan Stanley sold down below 5% and stopped reporting.
Original document → -
Nov 6, 2024
LPL Financial LLC sold down below 5% and stopped reporting.
Original document →
About this fund
- Run by First Trust Advisors L.P. Part of the First Trust Advisors L.P fund family. As of May 31, 2026, from the fund's yearly report. Original document →
- Size: about $256 million of holdings, as of May 29, 2026. As of May 29, 2026, from the fund's quarterly holdings report. Original document →
- Borrowing: the fund borrows about 9% on top of its own money, as of May 29, 2026. Borrowed money makes gains and losses bigger. As of May 29, 2026, from the fund's quarterly holdings report. Original document →
- The fund's own example of what borrowing does: in a year in which the holdings returned -10%, a share would return about -10.6%; at +10%, about +10%. As of May 31, 2026, from the fund's annual report. Original document →
- Costs: 0.9% a year in management fees; 2% a year in total, including interest on borrowed money. Fiscal year ended May 31, 2026.
As of May 31, 2026, from the fund's yearly report. Original document →
Among the 11 funds we follow that invest in bank loans, one charges a lower management fee and none charges less in total, at their last yearly reports. Both numbers are measured against the fund's own money, not the money it borrows on top, so a fund that borrows more shows higher costs on both counts. - Payouts: last fiscal year (ended May 31, 2026) the fund paid $1.16 a share. $0.67 of that was income; $0.49 was your own money back, not income. Most funds announce their monthly or quarterly payout on their own website, not in a filing with the regulator, so a cut or a raise there does not show up here until the next yearly report. A few funds do file a notice about a fixed payout; those appear under What happened, and when. As of May 31, 2026, from the fund's annual report. Original document →
- Value of holdings per share at the last fiscal year end (May 31, 2026): $9.86. The shares traded at $9.66, about 2% below that. As of May 31, 2026, from the fund's yearly report. Original document →
- How the holdings did: up 0.7% over the last three months we have (March-May 2026), before the share price is taken into account. As of May 29, 2026, from the fund's quarterly holdings report. Original document →
- First reported to the regulator in 2004.
+18%-4%
June 2024May 2026
How this has changed
- Payouts per share: $1.16 in the fiscal year ended May 31, 2026; $1.16 in the year ended May 31, 2025; $1.16 in the year ended May 31, 2024.As of May 31, 2026, from the fund's annual report. Original document →
- Of that, your own money back rather than income: $0.49 in the year ended May 31, 2026; $0.36 in the year ended May 31, 2025; $0.26 in the year ended May 31, 2024.As of May 31, 2026, from the fund's annual report. Original document →
- Costs, including interest on borrowed money: 2.02% a year in the fiscal year ended May 31, 2026; 1.92% a year in the year ended May 31, 2025; 2.45% a year in the year ended May 31, 2024.As of May 31, 2026, from the fund's annual report. Original document →
- Size of the holdings: about $256 million at May 29, 2026; $275 million at May 30, 2025; $287 million at May 31, 2024. From the fund's quarterly holdings reports. Original documents: May 29, 2026 →, May 30, 2025 →, May 31, 2024 →.
- Borrowing: about 9% on top of its own money at May 29, 2026; 23% at May 30, 2025; 19% at May 31, 2024. From the fund's quarterly holdings reports. Original documents: May 29, 2026 →, May 30, 2025 →, May 31, 2024 →.
- The fund had about 26 million shares at May 31, 2026, about the same as at May 31, 2024.As of May 31, 2026, from the fund's annual report. Original document →
What these lines mean: a payout that is your own money back, what a fund costs, borrowing.
What a holder made
- The year ended May 31, 2026: the shares returned +9.6%, counting payouts; the holdings +4.8%. The holdings figure is what the fund's investments earned, before the share price is taken into account. As of May 31, 2026, from the fund's annual report. Original document →
- The year ended May 31, 2025: the shares returned +6%, counting payouts; the holdings +7.4%. As of May 31, 2025, from the fund's annual report. Original document →
- The year ended May 31, 2024: the shares returned +22.9%, counting payouts; the holdings +13%. As of May 31, 2024, from the fund's annual report. Original document →
- The year ended May 31, 2023: the shares returned -4.1%, counting payouts; the holdings +6%. As of May 31, 2023, from the fund's annual report. Original document →
- The year ended May 31, 2022: the shares returned -6.3%, counting payouts; the holdings -3.6%. As of May 31, 2022, from the fund's annual report. Original document →
- Those five years together: the shares returned +28.2%. $10,000 of shares bought at the start (June 1, 2021) would have become about $12,800 by May 31, 2026, with every payout counted, before tax. As of May 31, 2026, from the fund's annual report. Original document →
- The holdings over the last twelve months we have, to May 29, 2026: +9.6%. The quarterly reports carry no share price, so this is the holdings alone. As of May 29, 2026, from the fund's quarterly holdings report. Original document →
- A past year says nothing about the next one. All figures are the fund's own, from its reports to the regulator.
Why the shares and the holdings can differ: the gap between price and value. Why payouts count: a payout that is your own money back.
What the fund holds
Mostly loans (91%), the rest bonds. About 99% issued in the U.S.
- Acrisure Term Loan B 325 2032-05-31 - 2.4%
- Whatabrands LLC, Whataburger Term Loan B 250 2028-08-01 - 2.1%
- AthenaHealth Group, athenahealth Term Loan B 300 2029-02-01 - 2%
- 1011778 BC Unlimited Liability Company, 1011778 Bc Ulc - 2%
- TransDigm Term Loan K 225 2030-03-01 - 1.5%
- IRB Holding - 1.5%
- TAMKO Building Products Term Loan B 275 2030-09-01 - 1.5%
- White Cap Supply Holdings LLC(f/k/a White Cap Buyer LLC), White Cap Term Loan B 325 2029-10-01 - 1.4%
- Truist Insurance Holdings Second-lien Term Loan 475 2032-02-28 - 1.3%
- Charter NEXT Generation (fka Charter NEX) Term Loan B 250 2030-12-01 - 1.3%
Show all 25
- Mavis Tire Express Services Topco, Mavis Tire Express Term Loan B 300 2028-05-01 - 1.2%
- SCIH Salt Holdings, Morton Salt (fka Kissner) Term Loan B 275 2029-01-31 - 1.2%
- American Airlines Term Loan B 175 2027-01-11 - 1.2%
- Quikrete Holdings, Quikrete Term Loan B-1 225 2029-03-01 - 1.1%
- Opal Us LLC - 1.1%
- Highline AfterMarket Acquisition LLC, Highline Warren (Highline Aftermarket) Term Loan B 350 2030-02-04 - 1.1%
- IMA Financial Group Term Loan B 375 2028-09-25 - 1.1%
- OneDigital Borrower LLC, OneDigital Health and Benefits Second-lien Term Loan 525 2032-06-02 - 1.1%
- Belron Finance 2019 LLC, Belron Term Loan B 200 2031-10-01 - 1%
- Project Ruby Ultimate Parent - 1%
- HIG Finance 2 Limited, Howden Group Holdings (fka Hyperion) Term Loan B 275 2030-04-01 - 1%
- Garda World Security Term Loan B 275 2029-02-01 - 1%
- Star Parent - 1%
- Parexel International Inc (f/k/a Phoenix Newco Inc), Parexel Term Loan B 275 2031-12-01 - 1%
- AHP Health Partners - 1%
As of May 29, 2026, from the fund's quarterly holdings report. Original document →
Details: all notices, events and fund facts
| Date | Investor | Stake | Type of notice |
|---|---|---|---|
| Feb 11, 2026 | Morgan Stanley | 4.1% | Sold down below 5% |
| Aug 7, 2025 | Morgan Stanley | 5.1% | Passive investor |
| Nov 14, 2024 | Morgan Stanley | 3.2% | Sold down below 5% |
| Nov 6, 2024 | LPL Financial LLC | 3.5% | Sold down below 5% |
| Date | What | Deadline | Document |
|---|---|---|---|
| Aug 10, 2026 | Shares no longer trade | none | Original document → |
- Run by
- First Trust Advisors L.P.
- Fund family
- First Trust Advisors L.P.
- Exchange
- New York Stock Exchange
- Regulator's file number
- 811-21539
- Auditor
- Deloitte & Touche LLP
- Fiscal year end
- May 31, 2026
- Number of holdings
- 254
- Preferred share classes
- none
See this fund's page at the SEC →
Email me when something new is filed for FCT
Free. One email when a large investor files a notice, or when the fund announces a buy-back, a vote or a closing - usually within a day. No password. Most funds announce payout changes on their own website, where we do not look.