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)
W. Scott Jardine
First Trust Portfolios L.P.
1001 Warrenville Road, Suite 300
LISLE, IL 60532
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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
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Date of reporting period: SEPTEMBER 30, 2005
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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(s) of Investments is attached herewith.
FIRST TRUST VALUE LINE(R) 100 FUND
PORTFOLIO OF INVESTMENTS
SEPTEMBER 30, 2005 (UNAUDITED)
MARKET
SHARES VALUE
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COMMON STOCKS - 99.8%
AEROSPACE/DEFENSE - 1.0%
194,429 AAR Corp.* ...................................... $ 3,340,290
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AUTO COMPONENTS - 1.0%
213,885 The Goodyear Tire & Rubber Company* ............. 3,334,467
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BIOTECHNOLOGY - 4.9%
40,930 Amgen, Inc.* .................................... 3,260,893
61,139 Celgene Corp.* .................................. 3,321,070
38,993 Genentech, Inc.* ................................ 3,283,601
43,505 Invitrogen Corp.* ............................... 3,272,881
58,108 Techne Corp.* ................................... 3,310,994
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16,449,439
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BUILDING PRODUCTS - 1.0%
57,100 Universal Forest Products, Inc. ................. 3,272,972
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CAPITAL MARKETS - 1.0%
30,504 Legg Mason, Inc. ................................ 3,345,984
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COMMERCIAL SERVICES & SUPPLIES - 3.0%
110,483 Monster Worldwide Inc.* ......................... 3,392,933
57,364 Stericycle, Inc.* ............................... 3,278,353
64,389 The Advisory Board Company* ..................... 3,350,804
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10,022,090
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COMMUNICATIONS EQUIPMENT - 5.0%
105,324 ADTRAN, Inc. .................................... 3,317,706
177,541 Corning Inc.* ................................... 3,431,868
138,396 Juniper Networks, Inc.* ......................... 3,292,441
148,179 Motorola, Inc. .................................. 3,273,274
257,504 Powerwave Technologies, Inc.* ................... 3,344,977
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16,660,266
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COMPUTERS & PERIPHERALS - 4.0%
62,794 Apple Computer, Inc.* ........................... 3,366,386
114,990 Hewlett-Packard Company ......................... 3,357,708
74,005 Intergraph Corp.* ............................... 3,308,764
261,834 Western Digital Corp.* .......................... 3,385,514
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13,418,372
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CONSTRUCTION MATERIALS - 3.0%
28,192 Eagle Materials Inc. ............................ 3,421,663
52,628 Florida Rock Industries, Inc. ................... 3,372,929
89,597 Headwaters, Inc.* ............................... 3,350,928
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10,145,520
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DISTRIBUTORS - 1.0%
34,939 Building Materials Holding Corp. ................ 3,255,965
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DIVERSIFIED FINANCIAL SERVICES - 1.0%
9,903 Chicago Mercantile Exchange Holdings Inc. ....... 3,340,282
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See Notes to Quarterly Portfolio of Investments Page 1
FIRST TRUST VALUE LINE(R) 100 FUND
PORTFOLIO OF INVESTMENTS - (CONTINUED)
SEPTEMBER 30, 2005 (UNAUDITED)
MARKET
SHARES VALUE
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COMMON STOCKS - CONTINUED
ELECTRONIC EQUIPMENT & INSTRUMENTS - 4.9%
174,045 Brightpoint, Inc.* .............................. $ 3,331,221
72,432 Itron, Inc.* .................................... 3,307,245
109,521 Jabil Circuit, Inc.* ............................ 3,386,389
122,600 Park Electrochemical Corp. ...................... 3,267,290
192,258 Plexus Corp.* ................................... 3,285,689
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16,577,834
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ENERGY EQUIPMENT & SERVICES - 4.9%
53,098 Cal Dive International, Inc.* ................... 3,366,944
44,530 Cooper Cameron Corp.* ........................... 3,292,103
47,163 Halliburton Company ............................. 3,231,609
56,443 Lone Star Technologies, Inc.* ................... 3,137,666
38,826 Schlumberger Ltd. ............................... 3,276,138
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16,304,460
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FOOD & STAPLES RETAILING - 1.0%
25,056 Whole Foods Market, Inc. ........................ 3,368,779
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GAS UTILITIES - 1.0%
37,100 Questar Corp. ................................... 3,269,252
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HEALTH CARE EQUIPMENT & SUPPLIES - 4.0%
68,704 Advanced Neuromodulation Systems, Inc.* ......... 3,260,692
25,682 Alcon, Inc. ..................................... 3,284,214
60,990 Mentor Corp. .................................... 3,355,060
79,763 Respironics, Inc.* .............................. 3,364,403
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13,264,369
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HEALTH CARE PROVIDERS & SERVICES - 5.9%
189,693 Allscripts Healthcare Solutions, Inc.* .......... 3,418,268
37,551 Cerner Corp.* ................................... 3,264,308
53,550 Express Scripts, Inc.* .......................... 3,330,810
89,967 LCA-Vision, Inc. ................................ 3,339,575
57,173 Pharmaceutical Product Development, Inc. ........ 3,288,019
288,896 WebMD Corp.* .................................... 3,200,968
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19,841,948
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HOTELS, RESTAURANTS & LEISURE - 1.0%
76,606 MGM MIRAGE* ..................................... 3,353,045
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HOUSEHOLD DURABLES - 6.1%
57,830 Beazer Homes USA, Inc. .......................... 3,392,886
224,300 Champion Enterprises, Inc.* ..................... 3,315,154
45,996 KB Home ......................................... 3,366,907
78,050 Pulte Homes, Inc. ............................... 3,349,906
81,412 Standard Pacific Corp. .......................... 3,379,412
77,221 Toll Brothers, Inc.* ............................ 3,449,462
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20,253,727
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Page 2 See Notes to Quarterly Portfolio of Investments
FIRST TRUST VALUE LINE(R) 100 FUND
PORTFOLIO OF INVESTMENTS - (CONTINUED)
SEPTEMBER 30, 2005 (UNAUDITED)
MARKET
SHARES VALUE
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COMMON STOCKS - CONTINUED
INSURANCE - 2.0%
80,510 Allmerica Financial Corp.* ...................... $ 3,312,181
74,039 The St. Paul Travelers Companies, Inc. .......... 3,322,130
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6,634,311
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IT SERVICES - 4.0%
131,867 Accenture Ltd., Class A* ........................ 3,357,334
73,872 Fiserv, Inc.* ................................... 3,388,509
123,969 ManTech International Corp., Class A* ........... 3,274,021
87,935 Paychex, Inc. ................................... 3,260,630
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13,280,494
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LEISURE EQUIPMENT & PRODUCTS - 1.0%
191,694 Oakley, Inc. .................................... 3,323,974
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MACHINERY - 4.2%
115,741 Astec Industries, Inc.* ......................... 3,285,887
164,024 Columbus McKinnon Corp.* ........................ 3,880,808
68,131 Joy Global, Inc. ................................ 3,437,890
82,730 Trinity Industries, Inc. ........................ 3,349,738
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13,954,323
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MEDIA - 1.0%
157,377 Shaw Communications, Inc. ....................... 3,300,196
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METALS & MINING - 1.0%
106,629 Allegheny Technologies, Inc. .................... 3,303,366
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MULTILINE RETAIL - 1.0%
98,355 Nordstrom, Inc. ................................. 3,375,544
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OIL, GAS & CONSUMABLE FUELS - 13.8%
40,424 Burlington Resources Inc. ....................... 3,287,280
66,362 Cabot Oil & Gas Corp. ........................... 3,351,945
86,174 Chesapeake Energy Corp. ......................... 3,296,155
43,956 CONSOL Energy Inc. .............................. 3,352,524
46,700 Devon Energy Corp. .............................. 3,205,488
57,113 EnCana Corp. .................................... 3,330,259
43,025 EOG Resources, Inc. ............................. 3,222,573
65,145 Newfield Exploration Company* ................... 3,198,619
69,848 Noble Energy, Inc. .............................. 3,275,871
39,698 Peabody Energy Corp. ............................ 3,348,526
44,307 Southwestern Energy Company* .................... 3,252,134
66,905 Talisman Energy Inc. ............................ 3,267,640
64,073 Western Gas Resources, Inc. ..................... 3,282,460
72,272 XTO Energy, Inc. ................................ 3,275,367
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45,946,841
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PHARMACEUTICALS - 2.0%
36,483 Allergan, Inc. .................................. 3,342,572
142,373 Biovail Corp.* .................................. 3,327,257
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6,669,829
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See Notes to Quarterly Portfolio of Investments Page 3
FIRST TRUST VALUE LINE(R) 100 FUND
PORTFOLIO OF INVESTMENTS - (CONTINUED)
SEPTEMBER 30, 2005 (UNAUDITED)
MARKET
SHARES VALUE
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COMMON STOCKS - CONTINUED
ROAD & RAIL - 1.0%
72,224 CSX Corp. ....................................... $ 3,356,971
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SEMICONDUCTORS
& SEMICONDUCTOR EQUIPMENT - 6.1%
109,595 ATMI, Inc.* ..................................... 3,397,445
352,024 LSI Logic Corp.* ................................ 3,467,436
73,872 Marvell Technology Group Ltd.* .................. 3,406,238
97,592 NVIDIA Corp.* ................................... 3,345,454
99,160 Texas Instruments Inc. .......................... 3,361,524
205,035 Veeco Instruments Inc.* ......................... 3,288,761
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20,266,858
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SOFTWARE - 3.0%
120,809 Amdocs Ltd.* .................................... 3,350,034
73,722 Autodesk, Inc. .................................. 3,423,650
139,043 Internet Security Systems, Inc.* ................ 3,338,422
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10,112,106
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SPECIALTY RETAIL - 4.0%
87,092 Advance Auto Parts, Inc.* ....................... 3,368,699
82,500 Bed Bath & Beyond Inc.* ......................... 3,314,850
90,968 Chico's FAS, Inc.* .............................. 3,347,622
159,527 Guess ?, Inc.* ................................. 3,418,664
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13,449,835
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TRADING COMPANY & DISTRIBUTORS - 1.0%
82,834 GATX Corp. ...................................... 3,276,085
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TOTAL COMMON STOCKS ............................. 333,069,794
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(Cost $289,972,153)
TOTAL INVESTMENTS - 99.8% ....................... 333,069,794
(Cost $289,972,153)**
NET OTHER ASSETS & LIABILITIES - 0.2% ........... 516,013
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NET ASSETS - 100.0% ............................. $ 333,585,807
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* Non-income producing security
** Aggregate cost for federal income tax and financial reporting
purposes
Page 4 See Notes to Quarterly Portfolio of Investments
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NOTES TO QUARTERLY PORTFOLIO OF INVESTMENTS (UNAUDITED)
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FIRST TRUST VALUE LINE(R) 100 FUND
SEPTEMBER 30, 2005
1. VALUATION AND INVESTMENT PRACTICES
A. PORTFOLIO VALUATION:
First Trust Value Line(R) 100 Fund (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 according to
procedures adopted by 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 as 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 traded
on the NASDAQ are valued at the NASDAQ Official Closing Price as determined by
NASDAQ. Portfolio securities traded on more than one securities exchange are
valued at the last sale price on the business day as of which such value is
being determined at the close of the exchange representing the principal market
for such securities. Portfolio securities traded in the over-the-counter market,
but excluding securities traded on the NASDAQ, are valued at the closing bid
prices. Short-term investments that mature in less than 60 days 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 always be reflected
in such securities' value. 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 adopted by the Fund's Board of Trustees. All
securities and other assets of the Fund denominated in foreign currencies will
be converted to U.S. dollars using exchange rates in effect at the time of
valuation.
B. 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 on such securities
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)
As of September 30, 2005, the aggregate gross unrealized appreciation for all
securities in which there was an excess of value over tax cost was $47,331,471,
and the aggregate unrealized depreciation for all securities in which there was
an excess of tax cost over value was $4,233,830.
Page 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, Chairman of the Board, President and
Chief Executive Officer
(principal executive officer)
Date NOVEMBER 23, 2005
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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, Chairman of the Board, President and
Chief Executive Officer
(principal executive officer)
Date NOVEMBER 23, 2005
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By (Signature and Title)* /S/MARK R. BRADLEY
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Mark R. Bradley, Treasurer, Controller, Chief
Financial Officer and Chief Accounting Officer
(principal financial officer)
Date NOVEMBER 23, 2005
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* Print the name and title of each signing officer under his or her signature.