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, Esq.
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: MARCH 31, 2006
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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, 100 F Street, NE, Washington, DC
20549. 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
MARCH 31, 2006 (UNAUDITED)
MARKET
SHARES VALUE
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COMMON STOCKS - 99.7%
AEROSPACE & DEFENSE - 4.0%
118,252 AAR Corp.* ........................................ $ 3,367,817
64,821 Ceradyne, Inc.* ................................... 3,234,568
34,071 Sequa Corp., Class A* ............................. 3,332,144
55,074 United Industrial Corp. ........................... 3,355,659
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13,290,188
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AIR FREIGHT & LOGISTICS - 2.0%
65,799 C.H. Robinson Worldwide, Inc. ..................... 3,230,073
37,862 Expeditors International of Washington, Inc. ...... 3,270,898
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6,500,971
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AUTOMOBILES - 1.0%
61,200 Thor Industries, Inc. ............................. 3,265,632
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BIOTECHNOLOGY - 2.0%
82,286 Digene Corp.* ..................................... 3,217,383
52,944 Gilead Sciences, Inc.* ............................ 3,294,176
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6,511,559
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CAPITAL MARKETS - 5.0%
189,067 Charles Schwab (The) Corp. ........................ 3,253,843
122,275 E*TRADE Financial Corp.* .......................... 3,298,980
20,812 Goldman Sachs Group (The), Inc. ................... 3,266,652
65,746 Investment Technology Group, Inc.* ................ 3,274,150
22,849 Lehman Brothers Holdings, Inc. .................... 3,302,366
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16,395,991
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COMMERCIAL SERVICES & SUPPLIES - 3.0%
66,225 Monster Worldwide Inc.* ........................... 3,301,979
182,627 Steelcase Inc., Class A ........................... 3,287,286
94,452 Waste Management, Inc. ............................ 3,334,156
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9,923,421
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COMMUNICATIONS EQUIPMENT - 4.9%
150,315 Cisco Systems, Inc.* .............................. 3,257,326
113,414 CommScope, Inc.* .................................. 3,237,970
118,940 Corning Inc.* ..................................... 3,200,675
244,415 Powerwave Technologies, Inc.* ..................... 3,297,158
64,109 QUALCOMM, Inc. .................................... 3,244,556
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16,237,685
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COMPUTERS & PERIPHERALS - 5.0%
52,645 Apple Computer, Inc.* ............................. 3,301,894
99,752 Hewlett-Packard Company ........................... 3,281,841
150,200 Palm, Inc.* ....................................... 3,478,632
56,076 SanDisk Corp.* .................................... 3,225,492
166,202 Western Digital Corp.* ............................ 3,229,305
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16,517,164
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CONSTRUCTION & ENGINEERING - 1.0%
59,983 McDermott International, Inc.* .................... 3,266,074
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See Notes to Quarterly portfolio of Investments. Page 1
FIRST TRUST VALUE LINE(R) 100 FUND
PORTFOLIO OF INVESTMENTS - (CONTINUED)
MARCH 31, 2006 (UNAUDITED)
MARKET
SHARES VALUE
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COMMON STOCKS - CONTINUED
CONSTRUCTION MATERIALS - 1.0%
51,746 Eagle Materials Inc. .............................. $ 3,299,325
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DIVERSIFIED FINANCIAL SERVICES - 2.0%
7,301 Chicago Mercantile Exchange Holdings Inc. ......... 3,267,198
46,244 Moody's Corp. ..................................... 3,304,596
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6,571,794
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ELECTRICAL EQUIPMENT - 2.0%
108,558 General Cable Corp.* .............................. 3,292,564
62,552 Thomas & Betts Corp.* ............................. 3,213,922
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6,506,486
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ELECTRONIC EQUIPMENT & INSTRUMENTS - 9.0%
88,092 Agilent Technologies, Inc.* ....................... 3,307,855
185,633 AVX Corp. ......................................... 3,285,704
85,624 Benchmark Electronics, Inc.* ...................... 3,283,680
105,719 Brightpoint, Inc.* ................................ 3,283,632
166,202 Ingram Micro Inc., Class A* ....................... 3,324,040
100,057 National Instruments Corp. ........................ 3,263,859
171,698 Newport Corp.* .................................... 3,238,224
86,714 Plexus Corp.* ..................................... 3,257,845
137,662 Technitrol, Inc. .................................. 3,301,135
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29,545,974
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ENERGY EQUIPMENT & SERVICES - 5.0%
86,714 Helix Energy Solutions Group Inc.* ................ 3,286,461
25,850 Schlumberger Ltd. ................................. 3,271,835
70,569 TETRA Technologies, Inc.* ......................... 3,319,566
59,373 Tidewater Inc. .................................... 3,279,171
72,284 Weatherford International Ltd.* ................... 3,306,993
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16,464,026
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HEALTH CARE EQUIPMENT & SUPPLIES - 2.0%
101,265 Molecular Devices Corp.* .......................... 3,357,947
58,481 Varian Medical Systems, Inc.* ..................... 3,284,293
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6,642,240
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HEALTH CARE PROVIDERS & SERVICES - 2.0%
36,714 Express Scripts, Inc.* ............................ 3,227,161
93,400 HealthExtras, Inc.* ............................... 3,297,020
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6,524,181
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HOTELS, RESTAURANTS & LEISURE - 1.0%
87,037 Starbucks Corp.* .................................. 3,276,073
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HOUSEHOLD DURABLES - 2.0%
216,183 Champion Enterprises, Inc.* ....................... 3,234,098
145,113 Matsushita Electric Industrial Co., Ltd.,
Sponsored ADR ................................... 3,212,802
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6,446,900
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Page 2 See Notes to Quarterly portfolio of Investments.
FIRST TRUST VALUE LINE(R) 100 FUND
PORTFOLIO OF INVESTMENTS - (CONTINUED)
MARCH 31, 2006 (UNAUDITED)
MARKET
SHARES VALUE
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COMMON STOCKS - CONTINUED
INDUSTRIAL CONGLOMERATES - 1.0%
49,498 Walter Industries, Inc. ........................... $ 3,297,557
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INSURANCE - 1.0%
56,934 W.R. Berkley Corp. ................................ 3,305,588
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IT SERVICES - 5.0%
111,291 Accenture Ltd., Class A ........................... 3,346,520
129,796 Ceridian Corp.* ................................... 3,303,308
64,667 CheckFree Corp.* .................................. 3,265,684
211,023 MPS Group, Inc.* .................................. 3,228,652
79,952 Paychex, Inc. ..................................... 3,330,800
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16,474,964
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MACHINERY - 4.9%
118,552 Columbus McKinnon Corp.* .......................... 3,192,605
67,720 Dover Corp. ....................................... 3,288,483
105,648 JLG Industries, Inc. .............................. 3,252,902
55,438 Joy Global, Inc. .................................. 3,313,529
60,181 Trinity Industries, Inc. .......................... 3,273,245
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16,320,764
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MARINE - 1.0%
48,666 Kirby Corp.* ...................................... 3,314,641
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MEDIA - 1.0%
186,906 News Corp., Class B ............................... 3,282,069
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METALS & MINING - 1.0%
35,140 Reliance Steel & Aluminum Company ................. 3,300,349
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OIL, GAS & CONSUMABLE FUELS - 3.9%
65,918 Peabody Energy Corp. .............................. 3,322,926
67,274 Petro-Canada ...................................... 3,201,570
37,945 Petroleo Brasileiro S.A., ADR ..................... 3,288,693
59,416 Talisman Energy Inc. .............................. 3,159,743
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12,972,932
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PHARMACEUTICALS - 1.0%
134,051 Biovail Corp. ..................................... 3,264,142
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ROAD & RAIL - 1.0%
54,369 CSX Corp. ......................................... 3,251,266
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SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 10.9%
96,975 Advanced Micro Devices, Inc.* ..................... 3,215,691
363,428 Amkor Technology, Inc.* ........................... 3,140,018
75,209 Broadcom Corp., Class A* .......................... 3,246,020
73,734 Cymer, Inc.* ...................................... 3,350,473
221,753 Integrated Device Technology, Inc.* ............... 3,295,249
114,486 Intersil Corp., Class A ........................... 3,310,935
59,742 Marvell Technology Group Ltd.* .................... 3,232,042
226,200 Micrel, Inc.* ..................................... 3,352,284
See Notes to Quarterly portfolio of Investments. Page 3
FIRST TRUST VALUE LINE(R) 100 FUND
PORTFOLIO OF INVESTMENTS - (CONTINUED)
MARCH 31, 2006 (UNAUDITED)
MARKET
SHARES VALUE
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COMMON STOCKS - CONTINUED
SEMICONDUCTORS
& SEMICONDUCTOR EQUIPMENT - (CONTINUED)
91,878 Microchip Technology Inc. ......................... $ 3,335,171
57,353 NVIDIA Corp.* ..................................... 3,284,033
108,235 OmniVision Technologies, Inc.* .................... 3,268,697
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36,030,613
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SOFTWARE - 6.1%
91,595 Amdocs Ltd.* ...................................... 3,302,916
150,246 BMC Software, Inc.* ............................... 3,254,328
90,706 Citrix Systems, Inc.* ............................. 3,437,757
138,772 Internet Security Systems, Inc.* .................. 3,327,753
146,873 Jack Henry & Associates, Inc. ..................... 3,358,985
118,423 Red Hat, Inc.* .................................... 3,313,476
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19,995,215
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SPECIALTY RETAIL - 4.0%
135,103 Circuit City Stores, Inc. ......................... 3,307,321
68,571 Dress Barn (The), Inc.* ........................... 3,287,979
87,785 Guess?, Inc.* .................................... 3,433,271
77,070 Home Depot (The), Inc. ............................ 3,260,061
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13,288,632
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TEXTILES, APPAREL & LUXURY GOODS - 1.0%
68,100 Gildan Activewear Inc.* ........................... 3,236,112
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TRADING COMPANIES & DISTRIBUTORS - 3.0%
69,460 Fastenal Company .................................. 3,288,236
58,881 MSC Industrial Direct Company, Inc., Class A ...... 3,180,752
46,521 Watsco, Inc. ...................................... 3,305,317
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9,774,305
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TOTAL COMMON STOCKS ............................... 328,294,833
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(Cost $275,526,712)
TOTAL INVESTMENTS - 99.7% ......................... 328,294,833
(Cost $275,526,712)**
NET OTHER ASSETS & LIABILITIES - 0.3% ............. 1,066,936
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NET ASSETS - 100.0% ............................... $ 329,361,769
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* Non-income producing security.
** Aggregate cost for federal income tax and financial reporting purposes.
ADR American Depository Receipt.
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
MARCH 31, 2006
1. VALUATION AND INVESTMENT PRACTICES
A. PORTFOLIO VALUATION:
The 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.
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 March 31, 2006, the aggregate gross unrealized appreciation for all
securities in which there was an excess of value over tax cost was $54,262,655,
and the aggregate unrealized depreciation for all securities in which there was
an excess of tax cost over value was $1,494,534.
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
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 MAY 23, 2006
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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 MAY 23, 2006
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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 MAY 23, 2006
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* Print the name and title of each signing officer under his or her signature.