UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number 811-21336
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FIRST TRUST VALUE LINE(R) 100 FUND
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(Exact name of registrant as specified in charter)
1001 Warrenville Road
Suite 300
LISLE, IL 60532
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(Address of principal executive offices) (Zip code)
CT Corporation System
101 Federal Street
BOSTON, MA 02110
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(Name and address of agent for service)
Registrant's telephone number, including area code: 630-241-4141
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Date of fiscal year end: DECEMBER 31, 2004
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Date of reporting period: SEPTEMBER 30, 2004
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Form N-Q is to be used by management investment companies, other than small
business investment companies registered on Form N-5 (ss.ss. 239.24 and 274.5 of
this chapter), to file reports with the Commission, not later than 60 days after
the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under
the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use
the information provided on Form N-Q in its regulatory, disclosure review,
inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-Q, and
the Commission will make this information public. A registrant is not required
to respond to the collection of information contained in Form N-Q unless the
Form displays a currently valid Office of Management and Budget ("OMB") control
number. Please direct comments concerning the accuracy of the information
collection burden estimate and any suggestions for reducing the burden to the
Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington,
DC 20549-0609. The OMB has reviewed this collection of information under the
clearance requirements of 44 U.S.C. ss. 3507.
ITEM 1. SCHEDULE OF INVESTMENTS.
The Schedule of Investments is attached herewith.
First Trust Value Line(R) 100 Fund
Portfolio of Investments
September 30, 2004 (Unaudited)
MARKET
SHARES VALUE
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COMMON STOCKS - 99.6%
MATERIALS - 12.2%
79,084 Ball Corp. $ 2,960,114
135,485 Brush Engineered Materials, Inc.* 2,805,895
103,583 Building Materials Holding Corporation 2,850,604
62,191 Carpenter Technology Corp. 2,968,998
76,375 Commercial Metals Company 3,033,615
60,715 Eastman Chemical Company 2,886,998
78,906 Georgia-Pacific Corp. 2,836,671
86,308 Joy Global, Inc. 2,967,269
32,600 Nucor Corp. 2,978,662
31,439 Phelps Dodge Corp. 2,893,331
62,081 Potlatch Corp. 2,906,012
118,792 Timken Company 2,924,659
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35,012,828
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RETAIL - 8.8%
76,881 American Eagle Outfitters, Inc.* 2,833,065
62,927 Guitar Center, Inc.* 2,724,739
26,757 Harman International Industries, Inc. 2,883,067
76,112 J.C. Penny Company, Inc. 2,685,231
167,127 Smart & Final, Inc.* 2,801,049
62,550 Starbucks Corp.* 2,843,523
73,032 The Home Depot, Inc. 2,862,854
83,246 Urban Outfitters, Inc.* 2,863,662
78,053 Walgreen Co. 2,796,639
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25,293,829
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ENERGY - 8.1%
65,005 Baker Hughes, Inc. 2,842,019
83,221 Cal Dive International, Inc. 2,964,332
98,785 Headwaters, Inc.* 3,048,505
78,466 Lone Star Technologies, Inc. 2,966,015
42,096 Schlumberger Ltd. 2,833,482
70,774 Southwestern Energy Company* 2,971,800
36,299 Valero Energy Corp. 2,911,543
85,861 XTO Energy, Inc. 2,788,765
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23,326,461
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CAPITAL GOODS - 8.0%
128,497 AGCO Corp.* 2,906,602
70,863 Armor Holdings, Inc.* 2,948,609
42,248 ESCO Technologies, Inc.* 2,862,725
49,759 Fastenal Company 2,866,118
48,101 Fisher Scientific International, Inc. 2,805,731
157,905 Park-Ohio Holding Corporation 2,826,500
74,481 Rockwell Automation, Inc. 2,882,415
62,942 Trex Company, Inc.* 2,787,072
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22,885,772
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1
First Trust Value Line(R) 100 Fund - (Continued)
Portfolio of Investments
September 30, 2004 (Unaudited)
MARKET
SHARES VALUE
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COMMON STOCKS - (CONTINUED)
HEALTH CARE EQUIPMENT & SERVICES - 7.9%
29,690 Aetna, Inc. $ 2,966,922
32,461 Anthem, Inc.* 2,832,222
60,209 Biomet, Inc. 2,822,598
57,223 Biosite, Inc.* 2,801,638
49,927 C.R. Bard, Inc. 2,827,366
104,340 Community Health Systems, Inc. 2,783,791
113,983 Cytyc Corp.* 2,752,690
55,247 Medtronic Inc. 2,867,319
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22,654,546
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TRANSPORTATION - 6.1%
78,161 Arkansas Best Corp. 2,862,256
33,161 FedEx Corp. 2,841,566
74,089 Forward Air Corp.* 2,965,042
79,329 J.B. Hunt Transport Services, Inc. 2,946,279
95,794 Norfolk Southern Corp. 2,848,913
63,125 Yellow Roadway Corporation 2,959,931
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17,423,987
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INTERNET SOFTWARE & SERVICES - 5.9%
31,404 eBay, Inc.* 2,887,284
114,029 Juniper Networks, Inc.* 2,691,084
147,017 Macromedia, Inc.* 2,952,101
343,758 Sapient Corp.* 2,622,874
54,351 Symantec Corp.* 2,982,783
86,203 Yahoo!, Inc.* 2,923,144
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17,059,270
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SOFTWARE - 5.0%
57,882 Adobe Systems, Inc. 2,863,423
80,462 Anteon International Corp 2,948,932
59,023 Autodesk, Inc. 2,870,288
62,620 DST Systems, Inc.* 2,784,711
268,899 Input/Output, Inc.* 2,772,349
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14,239,703
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ELECTRONIC EQUIPMENT & INSTRUMENTS - 4.9%
44,393 Flir Systems, Inc.* 2,596,990
79,017 II-VI, Inc. 2,766,385
42,943 L-3 Communications Holdings, Inc. 2,877,181
110,191 Thomas & Betts Corp. 2,955,323
63,267 Waters Corp.* 2,790,075
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13,985,954
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COMMUNICATIONS EQUIPMENT - 4.0%
157,548 Motorola, Inc. 2,842,166
37,583 Research IN Motion Ltd.* 2,869,086
93,194 Telefonaktiebolaget LM Ericsson, Sponsored
ADR 2,911,381
301,432 Tellabs, Inc.* 2,770,160
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11,392,793
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2
First Trust Value Line(R) 100 Fund - (Continued)
Portfolio of Investments
September 30, 2004 (Unaudited)
MARKET
SHARES VALUE
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COMMON STOCKS - (CONTINUED)
PHARMACEUTICALS & BIOTECHNOLOGY - 4.0%
49,160 Amgen, Inc.* $ 2,786,389
46,993 Biogen Idec, Inc.* 2,874,562
47,962 Celgene Corp.* 2,792,827
94,634 Pfizer, Inc. 2,895,800
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11,349,578
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COMMERCIAL SERVICES - 3.9%
127,624 Cendant Corp. 2,756,678
157,371 Korn/Ferry International* 2,868,873
126,477 Navigant Consulting, Inc.* 2,777,435
185,833 Sotheby's Holdings, Inc., Class A* 2,921,295
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11,324,281
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INSURANCE - 3.9%
94,065 American Financial Group, Inc. 2,811,603
40,515 American International Group, Inc. 2,754,615
135,355 Ohio Casualty Corp.* 2,832,980
60,834 SAFECO Corp. 2,777,072
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11,176,270
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SEMICONDUCTORS &
SEMICONDUCTOR EQUIPMENT - 3.0%
97,250 Cree, Inc. 2,969,042
123,265 Intermagnetics General Corp. 2,853,585
109,123 Marvell Technology Group Ltd.* 2,851,384
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8,674,011
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AUTOMOBILE & COMPONENTS - 3.0%
47,381 Harley-Davidson, Inc. 2,816,327
220,468 Tenneco Automotive, Inc.* 2,888,131
37,488 Toyota Motor Corp., Sponsored ADR 2,863,333
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8,567,791
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CONSUMER DURABLES & APPAREL - 2.1%
97,354 Fossil, Inc.* 3,012,133
38,159 The Black & Decker Corp. 2,955,033
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5,967,166
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COMPUTERS & PERIPHERALS - 2.0%
171,669 Agilysys, Inc. 2,968,157
80,187 Dell, Inc.* 2,854,657
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5,822,814
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TELECOMMUNICATION SERVICES - 2.0%
73,856 QUALCOMM, Inc. 2,883,338
112,611 Western Wireless Corp., Class A* 2,895,229
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5,778,567
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3
First Trust Value Line(R) 100 Fund - (Continued)
Portfolio of Investments
September 30, 2004 (Unaudited)
MARKET
SHARES VALUE
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COMMON STOCKS - (CONTINUED)
HOUSEHOLD & PERSONAL PRODUCTS - 1.9%
86,790 Chattem, Inc.* $ 2,798,978
114,446 Nu Skin Enterprises, Inc., Class A 2,690,625
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5,489,603
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HOTELS, RESTAURANTS & LEISURE - 1.0%
57,680 Station Casinos, Inc. 2,828,627
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AEROSPACE/DEFENSE - 1.0%
84,167 United Industrial Corp. 2,768,253
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MEDIA - 0.9%
85,939 Univision Communications, Inc. - Class A* 2,716,532
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TOTAL COMMON STOCKS 285,738,636
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(Cost $256,083,389)
TOTAL INVESTMENTS - 99.6% 285,738,636
(Cost $256,083,389)**
NET OTHER ASSETS & LIABILITIES - 0.4% 1,053,555
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NET ASSETS - 100.0% $286,792,191
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* Non-income producing security.
** Aggregate cost for federal tax purposes.
ADR American Depository Receipt
4
Notes to Quarterly Portfolio of Investments
September 30, 2004 (Unaudited)
1. VALUATION AND INVESTMENT PRACTICES
PORTFOLIO VALUATION:
The Fund determines the net asset value ("NAV") of its shares daily, as of the
close of regular session trading on the New York Stock Exchange ("NYSE"),
normally 4:00 p.m. Eastern time on each day the NYSE is open for trading. The
NAV is computed 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 at market value or, in the absence of market
value with respect to any portfolio securities, at fair value as determined by,
or under the direction of the Fund's Board of Trustees. Portfolio securities
listed on any exchange other than the NASDAQ National Market ("NASDAQ") are
valued at the last sale price on the business day of which such value is being
determined. If there has been no sale on such day, the securities are valued at
the mean of the most recent bid and asked prices on such day. Securities trading
on the NASDAQ are valued at the NASDAQ Official Closing Price as determined by
NASDAQ. Portfolio securities traded in the over-the-counter market, but
excluding securities trading on the NASDAQ, are valued at the closing bid
prices. Short-term investments that mature in 60 days or less are valued at
amortized cost.
Foreign securities traded outside the United States are generally valued as of
the time their trading is complete, which is usually different from the close of
the NYSE. Occasionally, events affecting the value of such securities may occur
between such times and the close of the NYSE that will not be reflected in the
computation of a Fund's NAV. If events materially affecting the value of such
securities occur during such period, these securities will be valued at their
fair value according to procedures decided upon in good faith by the Fund's
Board of Trustees. All securities and other assets of the Fund initially
expressed in foreign currencies will be converted to U.S. dollars using exchange
rates in effect at the time of valuation.
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.
Securities purchased or sold on a when-issued or delayed-delivery basis may be
settled a month or more after the trade date; interest income is not accrued
until settlement date. The Fund instructs the custodian to segregate assets of
the Fund with a current value at least equal to the amount of its when-issued
purchase commitments.
2. UNREALIZED APPRECIATION/(DEPRECIATION)
On September 30, 2004, net unrealized appreciation for Federal tax purposes was
$29,655,247, consisting of $32,652,748 aggregate gross unrealized appreciation
for all securities in which there is an excess of value over tax cost and
$2,997,501 aggregate gross unrealized depreciation for all securities in which
there is an excess of tax cost over value.
5
ITEM 2. CONTROLS AND PROCEDURES.
(a) The registrant's principal executive and principal financial officers,
or persons performing similar functions, have concluded that the
registrant's disclosure controls and procedures (as defined in Rule
30a-3(c) under the Investment Company Act of 1940, as amended (the
"1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within
90 days of the filing date of the report that includes the disclosure
required by this paragraph, based on their evaluation of these controls
and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR
270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities
Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or
240.15d-15(b)).
(b) There were no changes in the registrant's internal control over
financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17
CFR 270.30a-3(d)) that occurred during the registrant's last fiscal
quarter that have materially affected, or are reasonably likely to
materially affect, the registrant's internal control over financial
reporting.
ITEM 3. EXHIBITS.
Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of
the Sarbanes-Oxley Act of 2002 are attached hereto.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) FIRST TRUST VALUE LINE(R) 100 FUND
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By (Signature and Title)* /S/ JAMES A. BOWEN
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James A. Bowen, Chief Executive Officer
(principal executive officer)
Date November 24, 2004
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Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed below by the
following persons on behalf of the registrant and in the capacities and on the
dates indicated.
By (Signature and Title)* /S/ JAMES A. BOWEN
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James A. Bowen, Chief Executive Officer
(principal executive officer)
Date November 24, 2004
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By (Signature and Title)* /S/ MARK R. BRADLEY
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Mark R. Bradley, Chief Financial Officer
(principal financial officer)
Date November 24, 2004
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* Print the name and title of each signing officer under his or her signature.