FORM N-SAR
SEMI-ANNUAL REPORT
FOR REGISTERED INVESTMENT COMPANIES
Report for six month period ending: / / (a)
or fiscal year ending: 12/31/99 (b)
Is this a transition report? (Y/N) ___N____
Is this an amendment to a previous filing: (Y/N)___N___
1. A. Registrant Name: The First Trust Advantage Fund (Series 1
and Subsequent Series)
B. File Number: 811-2749
C: Telephone Number: 630-241-8615
2. A. Street: c/o Nike Securities L.P.
1001 Warrenville Road, Suite 300
B. City: Lisle C. State: IL D. Zip Code: 60532
3. Is this the first filing on this form by Registrant? (Y/N)__N__
4. Is this the last filing on this form by Registrant? (Y/N) __N__
5. Is Registrant a small business investment company (SBIC)? (Y/N) __N__
6. Is Registrant a unit investment trust (UIT)? (Y/N)__Y__
7. A. Is Registrant a series or multiple portfolio company? (Y/N)___N____
B. How many separate series or portfolios did Registrant have at
the end of the period? _______N/A__________
UNIT INVESTMENT TRUSTS
111. A. Depositor Name: Nike Securities L.P.
B. File Number (if any):
C. City: Lisle State: IL Zip Code: 60532 Ext: ___
112. A. Sponsor Name: Nike Securities L.P.
B. File Number (if any):
C. City: Lisle State: IL Zip Code: 60532 Ext: ___
113. A. Trustee Name: The Chase Manhattan Bank
B. City: New York State: NY Zip Code: 10004 Ext: ___
Foreign Country: Foreign Postal Code:
114. A. Principal Underwriter Name: Nike Securities L.P.
B. File Number: 8-_________
C. City: Nashville State: TN Zip Code: 37201 Ext: 1809
115. A. Independent Public Accountant Name: Ernst & Young LLP
B. City: Chicago State: IL Zip Code: 60606 Ext:___
116. Family of investment companies information:
A. Is Registrant part of a family of investment companies? (Y/N)___N_____
B. Identify the family in 10 letters N/A_ __ __ __ __ __ __ __ __ __
117. A. Is Registrant a separate account of an insurance company? (Y/N)___N_
B. Variable annuity contracts? (Y/N)____N_____
C. Scheduled premium variable life contracts? (Y/N)______N_____
D. Flexible premium variable life contracts? (Y/N)_______N_____
E. Other types of insurance products registered under the Securities
Act of 1933? (Y/N)_____N_____
118. State the number of series existing at the end of the period that had
securities registered under the Securities Act of 1933:___1________
119. State the number of new series for which registration statements under
the Securities Act of 1933 became effective during the period:___0______
120. State the total value of the portfolio securities on the date of deposit
for the new series included in item 119 ($000's omitted)_______0_____
121. State the number of series for which a current prospectus was in
existence at the end of the period: _____0_____
122. State the number of existing series for which additional units were
registered under the Securities Act of 1933 during the current period:__0____
123. State the total value of the additional units considered in answering
item 122 ($000's omitted) $____0______
124. State the total value of units of prior series that were placed in the
portfolios of subsequent series during the current period (the value of
these units is to be measured on the date they were placed in the
subsequent series) ($000's omitted) $______0_____
125. State the total dollar amount of sales loads collected (before
reallowances to other brokers or dealers) by Registrant's principal
underwriter and any underwriter which is an affiliated person of the
principal underwriter during the current period solely from the sale
of units of all series of Registrant's ($000's omitted) $______0_____
126. Of the amount shown in item 125, state the total dollar amount of sales
Loads collected from secondary market operations in Registrant's units (include
the sales loads, if any, collected on units of a prior series placed in the
portfolio of a subsequent series.) ($000's omitted) $____0______
127. List opposite the appropriate description below the number of series
whose portfolios are invested primarily (based upon a percentage of NAV) in
each type of security shown, the aggregate total assets at market value as of
a date at or near the end of the current period of each such group of series
and the total income distributions made by each such group of series during
the current period (excluding distributions of realized gains, if any):
<TABLE>
<CAPTION>
Number of Total Assets Total
Series ($000's Income
Investing omitted) Distributions
<S> <C> <C> <C>
A.U.S. Treasury direct issue 0 $0 $0
B.U.S. Government agency 0 $0 $0
C.State and municipal tax-free 1 $760 $53,865
D.Public utility debt 0 $0 $0
E.Brokers or dealers debt or
Debt of brokers' or
Dealers' parent 0 $0 $0
F.All other corporate
Intermed. & long-term debt 0 $0 $0
G.All other corporate short-
Term debt 0 $0 $0
H.Equity securities of brokers
Or dealers or parents of
Brokers or dealers 0 $0 $0
I.Investment company equity
Securities 0 $0 $0
J.All other equity securities 0 $0 $0
K.Other securities 0 $0 $0
L.Total assets of all series 1 $760 $53,865
Of Registrant
</TABLE>
128. Is the timely payment of principal and interest on any of the portfolio
Securities held by any of Registrant's series at the end of the current period
insured or guaranteed by an entity other than the issuer? (Y/N)______Y_______
[If answer is "N" (No), go to item 131]
129. Is the issuer of any instrument covered in item 128 delinquent or in
default as to payment of principal or interest at the end of the current
period?(Y/N)________N___________
[if answer is "N" (No), go to item 131]
130. In computations of NAV or offering price per unit, is any part of the
value attributed to instruments identified in item 129 derived from insurance
or guarantees?(Y/N)______________________
131. Total expenses incurred by all series of Registrant during the current
Reporting period ($000's omitted) $____7_______
132. List the "811" (Investment Company Act of 1940) registration number for
All Series of Registrant that is being included in this filing:
811-4190 811- 811-
