Core Viewpoint - First Trust Advisors L.P. has announced changes to the investment strategies and name of the First Trust EIP Carbon Impact ETF, which will now be called the First Trust EIP Power Solutions ETF, effective September 5, 2025 [1]. Investment Strategy Changes - The Fund will now invest at least 80% of its net assets in equity securities of companies identified as Power Solutions Companies by the investment sub-advisor, Energy Income Partners, LLC [1]. - The revised investment strategy expands the universe of eligible companies to include contracted developers and/or owners of nuclear energy systems [1]. - The focus will be on companies that are strategically connected to the generation or transmission of electric power, or that contribute to making the electric power system safer, cleaner, more reliable, or lower in cost [1]. Company Background - First Trust Advisors L.P. is a federally registered investment advisor with approximately $281 billion in assets under management as of July 31, 2025 [2]. - The company provides a variety of investment services through its affiliate, First Trust Portfolios L.P., which is a FINRA registered broker-dealer [2].

Company Overview - Alpha and Omega Semiconductor (AOSL) is positioning itself as an emerging total solution provider in a market exceeding $70 billion[5,48] - The company aims for consistent execution to approach its target model[5,48] Market and Growth Drivers - The power semiconductor market is large and growing[6], with a total addressable market (SAM) exceeding $10 billion in growth areas[20] - Computing accounts for 40% of focused markets, followed by Consumer at 24%, Power Supply/Industrial at 18%, and Communications at 15%[25] - The company is targeting $1 billion in revenue by CY2025/2026[21,45] Financial Performance - Revenue for the December quarter of 2023 is guided at $165 million[34] - Non-GAAP EPS for the December quarter of 2023 is projected at $0.15[35] - The company's target model includes a gross margin exceeding 30% and operating expenses around 20%[45] Joint Venture - The Chongqing JV has a total capitalization of $428 million, with AOS holding a 42.2% equity interest[41] - A sale of 2.1% JV equity interest was completed for $16.9 million, implying a valuation exceeding $800 million for the JV[42]