Fontris Alts · evidence-backed fund research, not investment advice · First Trust Alternative Opportunities Fund · CIK 0001681717 Data through 2026-07-31 · rendered 2026-08-10 04:18
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Sections
Net assets
$3.24B
source

Shareholder report (Form N-CSR) · filed 2026-06-09 · period 2026-03-31

Consolidated Statement of Assets and Liabilities, Net Assets, as of March 31, 2026

“3,239,494,198”

Why this source
audited statement wins the same-date headline over N-PORT per rules.period_series (tna source divergence surfaced by sentinel)

Method Matched text template against the filing

Open the filing on SEC.gov · Full observation history

Technical locator

Consolidated Statement of Assets and Liabilities, Net Assets, as of March 31, 2026 | accession 0001104659-26-071940 | audited statement wins the same-date headline over N-PORT per rules.period_series (tna source divergence surfaced by sentinel)

as of 2026-03-31
NAV / share
$26.95
source

Shareholder report (Form N-CSR) · filed 2026-06-09 · period 2026-03-31

financial-highlights end-of-period NAV (fallback)

“Net asset value, end of period $ 26.95”

Method Matched text template against the filing

Open the filing on SEC.gov · Full observation history

Technical locator

https://www.sec.gov/Archives/edgar/data/1681717/000110465926071940/tm2614954d1_ncsr.htm | financial-highlights end-of-period NAV (fallback)

Filed fund value · as of 2026-03-31
Net flows, last qtr
+4.4%
qtr ended 2026-03-31
Distribution coverage (NII)
70%
period ended 2026-03-31
Leverage in use
4%
debt / equity 0.03x
Total return, 12m
Pending
SEC-filed periodic NAV + distributions
01 / Signals

What changed in the latest filings.

Current findings ordered by severity. Each observation remains traceable to its filed source.

No current red or yellow flags in filings reviewed through 2026-07-31.

Historical findings (8)

NAV per share fell 13.3% from $25.64 to $22.23 (2020-03-31).
NAV per share fell 13.3% from $25.64 to $22.23 (2020-03-31). (Rule B12: NAV per share drop, severe: >= 5% decline month over month; Urgent.)

NAV per share ($26.16) is 1.5% below its trailing four-observation average ($26.57) as of 2023-09-30.
NAV per share ($26.16) is 1.5% below its trailing four-observation average ($26.57) as of 2023-09-30. (Rule C23: Sustained NAV decline: NAV per share >= 2% below its trailing 4-observation average; Notify.)

NAV per share fell 2.0% from $26.50 to $25.97 (2023-03-31).
NAV per share fell 2.0% from $26.50 to $25.97 (2023-03-31). (Rule B11: NAV per share drop >= 2% decline month over month; Notify.)

Proposal 1 put to shareholder vote: Approval Of Investment Sub-Advisory Agreement A. (2022-12-02)
Proposal 1 put to shareholder vote: Approval Of Investment Sub-Advisory Agreement A.

NAV per share fell 4.2% from $27.65 to $26.50 (2022-09-30).
NAV per share fell 4.2% from $27.65 to $26.50 (2022-09-30). (Rule B11: NAV per share drop >= 2% decline month over month; Notify.)

Proposal 1 put to shareholder vote: Approval Of A New Investment Management Agreement With Vivaldi Asset Management, Llc I. (2021-08-17)
Proposal 1 put to shareholder vote: Approval Of A New Investment Management Agreement With Vivaldi Asset Management, Llc I.

Proposal 3 put to shareholder vote: Approval Of A New Investment Sub-Advisory Agreement With Angel Oak Capital Advisors, Llc I. (2021-08-17)
Proposal 3 put to shareholder vote: Approval Of A New Investment Sub-Advisory Agreement With Angel Oak Capital Advisors, Llc I.

NAV per share fell 2.4% from $25.37 to $24.77 (2018-03-31).
NAV per share fell 2.4% from $25.37 to $24.77 (2018-03-31). (Rule B11: NAV per share drop >= 2% decline month over month; Notify.)

03 / Portfolio

What moved inside the book.

Filed portfolio-health facts and position changes. Missing disclosures stay visibly missing.

Pending

04 / Redemptions

Where exit demand met the cap.

Stated cap: 5% of shares/offer. The disclosed history shows no rationed period.

Not disclosed

05 / Financing

How the balance sheet is funded.

Borrowings, unused capacity, and synthetic exposure are separated so unlike risks do not collapse into one ratio.

Pending

06 / Share classes

How the offering is divided.

A filed share-class breakdown and terms-based role descriptions. This is not an estimate of who owns the fund.

Not attributed 100.0%

Share of total net assets ($3,239,494,198) as of 2026-03-31; the hatched band is net assets the filings do not attribute to a captured class.

ClassTerms-based role descriptionLoadServicingMinimumAssets
Class IPendingPendingPendingPendingPending

Management fee: 0.95% of month end nav per year, current as of latest filed disclosure. Research only: not used in a fee distribution. SEC source 0001104659-26-071940.

Filed fee conditions

Under the terms of the Investment Advisory Agreement, the Fund pays a monthly investment management fee to the Investment Manager equal to 0.95% on an annualized basis of the Fund's NAV as of each month-end (the 'Investment Management Fee'), subject to certain adjustments. The Fund uses a 'multi-manager' approach; RiverNorth and Palmer Square (sub-advisers) are each paid out of this same Investment Management Fee by the Investment Manager -- not an additional fund-level charge (Palmer Square's own rate: 0.50% of assets allocated to it).

Canonical-class fee profile
ClassManagementIncentiveLoadServicingGross expensesNet expenses
Class I 0.95% None
*
None. The standardized prospectus fee table contains no incentive/performance-fee line.
SEC source 0001104659-25-093946
Pending Pending 1.53%interest included
*
Filed label: Ratio of expenses to average net assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (including commitment fees, dividends and interest on securities sold short, excise tax, extraordinary litigation fees, interest expense and unused line of credit fees) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Before fees waived 7,8; period 2026-03-31.
before/excluding fee relief (explicit filing row); waiver state: before / excluding disclosed support.
SEC source 0001104659-26-071940
 1.46%interest included
*
Filed label: Ratio of expenses to average net assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (including commitment fees, dividends and interest on securities sold short, excise tax, extraordinary litigation fees, interest expense and unused line of credit fees) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Before fees waived 7,8 ​ ​ ​ ​ 1.53 % ​ ​ ​ ​ ​ 1.47 % ​ ​ ​ ​ ​ 1.42 % ​ ​ ​ ​ ​ 1.36 % ​ ​ ​ ​ ​ 1.16 % ​ ​ After fees waived 7,8; period 2026-03-31.
After waiver: not separately stated; interest: included; tax: included; incentive compensation: not separately stated; acquired-fund expenses: not separately stated.
SEC source 0001104659-26-071940

Expense-ratio caution. These are the issuer’s filed figures for the designated analysis class. They are not placed in a fee ranking because denominators and included expenses are not yet normalized across funds. Hover or click * for the filed label, period, components, and SEC source.

07 / Sources

The evidence beneath the page.

Filed terms and recent documents remain available without crowding the primary research flow.

Term register (1)
TermDescriptionValueEffective
advisory_fee_scheduleUnder the terms of the Investment Advisory Agreement, the Fund pays a monthly investment management fee to the Investment Manager equal to 0.95% on an annualized basis of the Fund's NAV as of each month-end (the 'Investment Management Fee'), subject to certain adjustments. The Fund uses a 'multi-manager' approach; RiverNorth and Palmer Square (sub-advisers) are each paid out of this same Investment Management Fee by the Investment Manager -- not an additional fund-level charge (Palmer Square's own rate: 0.50% of assets allocated to it).0.95 pct_annual_of_month_end_navPending
Recent filings
FiledFormAccession
2026-06-09N-CSR0001104659-26-071940
2026-06-01NPORT-P0001193125-26-251390
2026-05-29N-23C3A0001104659-26-068044
2026-03-02NPORT-P0000926877-26-000093
2026-02-27N-23C3A0001104659-26-021244
2025-12-05N-CSRS0001104659-25-118747
2025-12-01NPORT-P0001193125-25-303770
2025-12-01N-23C3A0001104659-25-117228
2025-09-26486BPOS0001104659-25-093946
2025-08-29N-23C3A0001104659-25-085367
2025-08-28NPORT-P0001145549-25-055749
2025-06-09N-CSR0001104659-25-057890
2025-05-30N-23C3A0001104659-25-054670
2025-05-29NPORT-P0001145549-25-036552
2025-03-03NPORT-P0001145549-25-015676