SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 9)
First Trust Mortgage Income Fund
( FMY )
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
33734E103
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(CUSIP Number)
Paul E. Rasmussen
3300 IDS Center
80 South Eighth Street
Minneapolis, MN 55402-4130
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(Name, Address, and Telephone Number of Person
Authorized to Receive Notices and Communications)
April 26, 2018
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g),
check the following box. [X]
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7(b) for other
parties to whom copies are to be sent.
* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for an subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section
of the Act but shall be subject to all other provisions of the Act (however,
see the Notes).
CUSIP No. 33734E103
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1 NAME OF REPORTING PERSON
Sit Investment Associates, Inc.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [ ]
(b) [x]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (See Instructions)
00
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Incorporated in Minnesota
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7 SOLE VOTING POWER
NUMBER OF
SHARES -----------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 1,744,733 Shares
REPORTING -----------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
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10 SHARED DISPOSITIVE POWER
1,744,733 Shares
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,744,733 Shares
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See instructions) [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
41.41%
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14 TYPE OF REPORTING PERSON (See Instructions)
IA
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CUSIP No. 33734E103
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1 NAME OF REPORTING PERSON
Sit Fixed Income Advisors II, LLC
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [ ]
(b) [x]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (See Instructions)
00
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Incorporated in Minnesota
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7 SOLE VOTING POWER
NUMBER OF
SHARES -----------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 1,744,733 Shares
REPORTING -----------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
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10 SHARED DISPOSITIVE POWER
1,744,733 Shares
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,744,733 Shares
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See instructions) [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
41.41%
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14 TYPE OF REPORTING PERSON (See Instructions)
IA
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ITEM 1 Security and Issuer
Common Stock
First Trust Mortgage Income Fund
First Trust Advisors L.P.
120 East Liberty Drive, Suite 400
Wheaton, IL 60187
ITEM 2 Identity and Background
a) and c)
This statement is filed by:
Sit Investment Associates, Inc., a Minnesota corporation (SIA), and Sit
Fixed Income Advisors II, LLC, a Delaware limited liability company (SFI).
Both SIA and SFI are parties to a Joint Filing Agreement as further
described in Exhibit B to the initial Schedule 13D filed by SIA and SFI on
March 18, 2015.
SIA is a registered investment adviser.
SFI is a registered investment adviser and subsidiary of SIA.
SIA or SFI serves as investment adviser on behalf of its clients pursuant
to investment management agreements with each of its clients which give
SIA or SFI full discretionary authority to direct the investments of its
client in accordance with the investment objectives and restrictions of
the client. The investment management agreements also provide that SIA or
SFI has assumed the responsibility to vote on behalf of its clients all
shares held by its clients in accounts managed by SIA or SFI.
Roger J. Sit is chairman and CEO of SIA and SFI.
Michael C. Brilley is senior vice President of SIA and director, president
and chief fixed income officer of SFI.
Mr. Ronald D. Sit is a vice president of SIA and director.
Mr. Ralph L. Strangis is a director of SIA and SFI. Mr. Strangis is a
partner with the law firm Kaplan Strangis & Kaplan, P.A.
By virtue of these positions, each of SIA, SFI, Mr. Roger Sit, Mr.
Brilley, Mr. Ronald Sit, and Mr. Strangis, may be deemed to beneficially
own the Shares held by SIA and SFI. None of the named individuals own
shares directly. Additionally, Mr. Strangis is not involved in investment
or voting decisions. Together SIA, SFI, Mr. Roger Sit, Mr. Brilley, Mr.
Ronald Sit, and Mr. Strangis are the "Sit Entities".
b) The business address of each of the Sit Entities is 3300 IDS Center, 80
South Eighth Street, Minneapolis, MN 55402
d) During the last five years, neither Roger J. Sit, Michael C. Brilley,
Ronald D. Sit, nor Ralph L. Strangis, have been convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors).
e) During the last five years, none of the Sit Entities have been a party to
a civil proceeding of a judicial or administrative body of competent
jurisdiction and as a result of such proceeding was or is subject to a
judgment, decree, or final order enjoining future violations of, or
prohibiting or mandating activities subject to, federal or state
securities laws or finding any violation with respect to such laws.
f) Roger J. Sit, Michael C. Brilley, Ronald D. Sit, and Ralph L. Strangis
are United States citizens.
ITEM 3 Source and Amount of Funds or Other Consideration
The Sit Entities acquired the Issuer's Shares in open market transactions
with client funds held in custody accounts managed by SIA and SFI.
ITEM 4 Purpose of Transaction
The Sit Entities have acquired the Issuer's Shares for investment purposes,
and such purchases have been made in the ordinary course of business. The
Issuer's Shares have been acquired on behalf of SIA's and SFI's clients.
In pursuing such investment purposes, the Sit Entities purchased the Shares
based on the Sit Entities' belief that the Shares represented an attractive
investment opportunity, and the Sit Entities may further purchase, hold,
vote, trade, sell or otherwise deal in the Shares at the time, and in such
manner, as they deem advisable to benefit from, among many things, changes in
market prices of such Shares, the market prices of such Shares relative to
the value of the Issuer's assets, changes in the Issuer's investment
strategy, and composition of the Issuer's portfolio.
None of Sit Entities have any present plan or proposal which would relate to
or result in any of the matters set forth in subparagraphs (a) - (j) of Item
4 of Schedule 13D except as set forth herein or such as would occur upon or
in connection with completion of, or following, any of the actions discussed
herein.
The Sit Entities intend to review their investment in the Issuer's Shares on
a continuing basis and may from time to time engage in discussion with
management, the Board of Directors and shareholders concerning, among other
things, the Issuer's performance, the market prices of the Issuer's Shares
relative to the value of the Issuer's assets, the Issuer's investment
strategy and the Issuer's portfolio holdings.
ITEM 5 Interest in Securities of the Issuer
a) and b)
The aggregate percentage of Shares reported owned by Sit Entities herein
is based upon 4,213,115 Shares outstanding as of October 31, 2017, which
is the total number of Shares outstanding as reported in the Issuer's
Annual Report (Form N-CSR) dated October 31, 2017 and filed on January 5,
2018.
As of the date hereof, the Sit Entities may be deemed to be the beneficial
owner of 1,744,733 Shares held in client accounts which represent 41.41%
of the Issuer's outstanding Shares. Each of the Sit Entities may be deemed
to have shared power to vote and dispose of such Shares. However, none of
SIA's or SFI's directors or executive officers own Shares directly.
c) Transactions in Shares by the Sit Entities during the past 60 days are set
forth in Exhibit A.
d) The clients of SIA and SFI have the right to participate in the receipt of
dividends from, or proceeds from the sales of, the Shares held for their
respective accounts.
e) Not applicable
ITEM 6 Contracts, Arrangements, Understandings, or Relationships with Respect
to Securities of the Issuer
Not applicable.
ITEM 7 Materials to be Filed as Exhibits
Exhibit A: Schedule of Transactions in Shares by the Sit Entities during
the past 60 days.
Signature
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true,
complete, and correct.
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May 4, 2018
By: Sit Investment Associates, Inc.
/s/ Roger J. Sit
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Name/Title: Roger J. Sit, Chairman & CEO
By: Sit Fixed Income Advisors II, LLC
/s/ Michael C. Brilley
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Name/Title: Michael C. Brilley, President & CIO
EXHIBIT A
Schedule of Transactions in Shares by Sit Entities during the past 60 days:
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Shares of Common
Date of Transaction Stock Purchased Price
Transaction Type /(Sold) Per Share ($)
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4/2/2018 PURCHASE 100.00 13.88
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4/3/2018 PURCHASE 3,801.00 13.8889
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4/9/2018 PURCHASE 5,500.00 13.97
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4/24/2018 PURCHASE 3,453.00 13.5163
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4/25/2018 PURCHASE 3,600.00 13.515
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4/26/2018 PURCHASE 25,000.00 13.4959
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