Global Atlantic BlackRock Disciplined Value Portfolio
Portfolio of Investments (Unaudited)
March 31, 2023
Shares/ Principal | Fair Value | ||
Common Stocks - 98.5% | |||
Aerospace & Defense - 2.1% | |||
Boeing Co. (The) * | 758 | $161,022 | |
General Dynamics Corp. | 7,217 | 1,646,992 | |
Lockheed Martin Corp. | 3,121 | 1,475,390 | |
Northrop Grumman Corp. | 739 | 341,211 | |
Textron, Inc. | 16,010 | 1,130,786 | |
4,755,401 | |||
Automobile Components - 0.6% | |||
BorgWarner, Inc. | 11,367 | 558,234 | |
Lear Corp. | 5,133 | 716,002 | |
1,274,236 | |||
Automobiles - 1.1% | |||
Ford Motor Co. | 13,440 | 169,344 | |
General Motors Co. | 61,101 | 2,241,185 | |
2,410,529 | |||
Banks - 5.2% | |||
Bank of America Corp. | 83,729 | 2,394,649 | |
Citigroup, Inc. | 37,642 | 1,765,033 | |
First Republic Bank | 4,611 | 64,508 | |
JPMorgan Chase & Co. | 24,664 | 3,213,966 | |
KeyCorp | 8,032 | 100,561 | |
Pinnacle Financial Partners, Inc. | 1,153 | 63,599 | |
PNC Financial Services Group, Inc. (The) | 2,959 | 376,089 | |
Synovus Financial Corp. | 1,082 | 33,358 | |
Truist Financial Corp. | 5,607 | 191,199 | |
US Bancorp | 33,318 | 1,201,114 | |
Wells Fargo & Co. | 57,706 | 2,157,050 | |
11,561,126 | |||
Beverages - 1.3% | |||
Coca-Cola Co. (The) | 6,921 | 429,310 | |
Keurig Dr Pepper, Inc. | 3,330 | 117,482 | |
PepsiCo, Inc. | 13,288 | 2,422,402 | |
2,969,194 | |||
Biotechnology - 2.0% | |||
Amgen, Inc. | 2,970 | 717,997 | |
Biogen, Inc. * | 1,653 | 459,584 | |
BioMarin Pharmaceutical, Inc. * | 1,237 | 120,286 | |
Exelixis, Inc. * | 20,661 | 401,030 | |
Gilead Sciences, Inc. | 14,636 | 1,214,349 | |
Horizon Therapeutics PLC * | 186 | 20,300 | |
Incyte Corp. * | 4,485 | 324,131 | |
Neurocrine Biosciences, Inc. * | 3,592 | 363,582 | |
Regeneron Pharmaceuticals, Inc. * | 844 | 693,489 | |
Ultragenyx Pharmaceutical, Inc. * | 5,476 | 219,588 | |
United Therapeutics Corp. * | 126 | 28,219 | |
4,562,555 | |||
Broadline Retail - 0.7% | |||
Amazon.com, Inc. * | 2,751 | 284,151 | |
eBay, Inc. | 30,542 | 1,355,148 | |
1,639,299 |
Shares/ Principal | Fair Value | ||
Building Products - 0.8% | |||
Allegion PLC | 8,924 | $952,458 | |
Johnson Controls International PLC | 3,052 | 183,791 | |
Owens Corning | 3,827 | 366,627 | |
Trane Technologies PLC | 2,013 | 370,352 | |
1,873,228 | |||
Capital Markets - 4.3% | |||
Bank of New York Mellon Corp. (The) | 49,649 | 2,256,051 | |
Cboe Global Markets, Inc. | 7,801 | 1,047,206 | |
Charles Schwab Corp. (The) | 6,596 | 345,498 | |
CME Group, Inc. | 2,798 | 535,873 | |
Goldman Sachs Group, Inc. (The) | 2,256 | 737,960 | |
Interactive Brokers Group, Inc., Class A | 365 | 30,134 | |
Intercontinental Exchange, Inc. | 10,774 | 1,123,620 | |
Invesco Ltd. | 38,347 | 628,891 | |
LPL Financial Holdings, Inc. | 1,589 | 321,614 | |
S&P Global, Inc. | 6,763 | 2,331,680 | |
Stifel Financial Corp. | 2,354 | 139,098 | |
Tradeweb Markets, Inc., Class A | 2,536 | 200,395 | |
9,698,020 | |||
Chemicals - 2.2% | |||
Corteva, Inc. | 14,547 | 877,329 | |
DuPont de Nemours, Inc. | 1,274 | 91,435 | |
Ecolab, Inc. | 12,356 | 2,045,289 | |
FMC Corp. | 14,061 | 1,717,270 | |
Huntsman Corp. | 6,208 | 169,851 | |
4,901,174 | |||
Commercial Services & Supplies - 0.5% | |||
Cintas Corp. | 2,483 | 1,148,834 | |
Communications Equipment - 1.1% | |||
Cisco Systems, Inc. | 11,054 | 577,848 | |
Juniper Networks, Inc. | 55,722 | 1,917,951 | |
2,495,799 | |||
Construction & Engineering - 0.9% | |||
AECOM | 23,340 | 1,968,029 | |
Construction Materials - 0.2% | |||
Vulcan Materials Co. | 2,907 | 498,725 | |
Consumer Finance - 1.8% | |||
American Express Co. | 18,363 | 3,028,977 | |
Synchrony Financial | 33,514 | 974,587 | |
4,003,564 | |||
Consumer Staples Distribution & Retail - 2.0% | |||
Walmart, Inc. | 30,545 | 4,503,860 | |
Distributors - 0.2% | |||
Genuine Parts Co. | 2,860 | 478,507 | |
LKQ Corp. | 1,136 | 64,479 | |
542,986 |
Global Atlantic BlackRock Disciplined Value Portfolio
Portfolio of Investments (Unaudited) (Continued)
March 31, 2023
Shares/ Principal | Fair Value | ||
Diversified Telecommunication Services - 1.4% | |||
AT&T, Inc. | 81,828 | $1,575,189 | |
Verizon Communications, Inc. | 38,968 | 1,515,466 | |
3,090,655 | |||
Electric Utilities - 2.3% | |||
Entergy Corp. | 3,711 | 399,823 | |
Evergy, Inc. | 28,650 | 1,751,088 | |
NRG Energy, Inc. | 11,886 | 407,571 | |
PPL Corp. | 54,336 | 1,509,997 | |
Xcel Energy, Inc. | 15,817 | 1,066,699 | |
5,135,178 | |||
Electrical Equipment - 1.1% | |||
AMETEK, Inc. | 5,861 | 851,779 | |
Eaton Corp. PLC | 9,630 | 1,650,004 | |
Emerson Electric Co. | 444 | 38,690 | |
2,540,473 | |||
Electronic Equipment, Instruments & Components - 1.0% | |||
Flex Ltd. * | 72,345 | 1,664,658 | |
TD SYNNEX Corp. | 6,669 | 645,493 | |
2,310,151 | |||
Energy Equipment & Services - 0.4% | |||
Halliburton Co. | 17,568 | 555,851 | |
Patterson-UTI Energy, Inc. | 13,894 | 162,560 | |
Schlumberger NV | 2,110 | 103,601 | |
822,012 | |||
Entertainment - 0.4% | |||
Activision Blizzard, Inc. | 5,777 | 494,454 | |
Netflix, Inc. * | 484 | 167,212 | |
Walt Disney Co. (The) * | 128 | 12,817 | |
Warner Bros Discovery, Inc. * | 7,504 | 113,310 | |
787,793 | |||
Financial Services - 3.1% | |||
Berkshire Hathaway, Inc., Class B * | 15,265 | 4,713,374 | |
Block, Inc. * | 1,330 | 91,304 | |
Fidelity National Information Services, Inc. | 7,985 | 433,825 | |
PayPal Holdings, Inc. * | 22,522 | 1,710,321 | |
StoneCo Ltd., Class A * | 9,190 | 87,673 | |
7,036,497 | |||
Food Products - 2.0% | |||
Archer-Daniels-Midland Co. | 30,999 | 2,469,381 | |
Kellogg Co. | 7,221 | 483,518 | |
Tyson Foods, Inc., Class A | 26,125 | 1,549,735 | |
4,502,634 | |||
Gas Utilities - 0.0%† | |||
New Jersey Resources Corp. | 952 | 50,646 | |
Spire, Inc. | 549 | 38,507 | |
89,153 |
Shares/ Principal | Fair Value | ||
Ground Transportation - 0.3% | |||
Lyft, Inc., Class A * | 5,032 | $46,647 | |
Norfolk Southern Corp. | 914 | 193,768 | |
Ryder System, Inc. | 1,077 | 96,111 | |
Schneider National, Inc., Class B | 14,974 | 400,555 | |
737,081 | |||
Health Care Equipment & Supplies - 2.8% | |||
Becton Dickinson and Co. | 10,604 | 2,624,914 | |
Boston Scientific Corp. * | 45,798 | 2,291,274 | |
Enovis Corp. * | 6,806 | 364,053 | |
IDEXX Laboratories, Inc. * | 443 | 221,536 | |
Medtronic PLC | 8,761 | 706,312 | |
ResMed, Inc. | 670 | 146,723 | |
6,354,812 | |||
Health Care Providers & Services - 3.9% | |||
Cardinal Health, Inc. | 570 | 43,035 | |
Cigna Corp. (The) | 8,974 | 2,293,126 | |
CVS Health Corp. | 41,488 | 3,082,973 | |
Elevance Health, Inc. | 6,148 | 2,826,912 | |
UnitedHealth Group, Inc. | 837 | 395,558 | |
8,641,604 | |||
Health Care Technology - 0.4% | |||
Teladoc Health, Inc. * | 36,439 | 943,770 | |
Hotel & Resort REITs - 0.1% | |||
Park Hotels & Resorts, Inc. | 21,047 | 260,141 | |
Hotels, Restaurants & Leisure - 1.9% | |||
Caesars Entertainment, Inc. * | 6,019 | 293,787 | |
Darden Restaurants, Inc. | 6,087 | 944,459 | |
McDonald's Corp. | 2,763 | 772,562 | |
MGM Resorts International | 6,740 | 299,391 | |
Starbucks Corp. | 5,314 | 553,347 | |
Travel + Leisure Co. | 27,065 | 1,060,948 | |
Yum! Brands, Inc. | 2,449 | 323,464 | |
4,247,958 | |||
Household Durables - 0.4% | |||
TopBuild Corp. * | 767 | 159,643 | |
Whirlpool Corp. | 4,632 | 611,517 | |
771,160 | |||
Household Products - 1.9% | |||
Colgate-Palmolive Co. | 24,570 | 1,846,436 | |
Procter & Gamble Co. (The) | 16,706 | 2,484,015 | |
4,330,451 | |||
Independent Power and Renewable Electricity Producers - 0.1% | |||
Brookfield Renewable Corp., Class A | 6,046 | 211,308 | |
Clearway Energy, Inc., Class C | 2,035 | 63,756 | |
275,064 | |||
Industrial Conglomerates - 0.9% | |||
Honeywell International, Inc. | 9,980 | 1,907,378 |
Global Atlantic BlackRock Disciplined Value Portfolio
Portfolio of Investments (Unaudited) (Continued)
March 31, 2023
Shares/ Principal | Fair Value | ||
Industrial REITs - 1.4% | |||
Prologis, Inc. | 25,266 | $3,152,439 | |
Insurance - 4.4% | |||
Allstate Corp. (The) | 12,771 | 1,415,154 | |
American Financial Group, Inc./OH | 805 | 97,807 | |
Arthur J Gallagher & Co. | 790 | 151,135 | |
Chubb Ltd. | 436 | 84,662 | |
Everest Re Group Ltd. | 656 | 234,861 | |
Hartford Financial Services Group, Inc. (The) | 14,108 | 983,187 | |
Marsh & McLennan Cos., Inc. | 11,191 | 1,863,861 | |
MetLife, Inc. | 42,236 | 2,447,154 | |
Prudential Financial, Inc. | 3,094 | 255,998 | |
Travelers Cos., Inc. (The) | 9,372 | 1,606,455 | |
Unum Group | 8,946 | 353,904 | |
W R Berkley Corp. | 3,878 | 241,444 | |
9,735,622 | |||
Interactive Media & Services - 4.1% | |||
Alphabet, Inc., Class A * | 23,709 | 2,459,335 | |
Alphabet, Inc., Class C * | 8,269 | 859,976 | |
Bumble, Inc., Class A * | 2,477 | 48,425 | |
IAC, Inc. * | 2,288 | 118,061 | |
Match Group, Inc. * | 3,186 | 122,310 | |
Meta Platforms, Inc., Class A * | 21,199 | 4,492,916 | |
Pinterest, Inc., Class A * | 21,584 | 588,596 | |
Snap, Inc., Class A * | 35,281 | 395,500 | |
9,085,119 | |||
IT Services - 0.0%† | |||
Twilio, Inc., Class A * | 406 | 27,052 | |
Life Sciences Tools & Services - 3.4% | |||
Agilent Technologies, Inc. | 10,645 | 1,472,629 | |
Danaher Corp. | 12,922 | 3,256,861 | |
Thermo Fisher Scientific, Inc. | 4,849 | 2,794,818 | |
7,524,308 | |||
Machinery - 4.1% | |||
Allison Transmission Holdings, Inc. | 1,455 | 65,824 | |
Cummins, Inc. | 3,829 | 914,672 | |
Deere & Co. | 4,607 | 1,902,138 | |
Graco, Inc. | 2,391 | 174,567 | |
Illinois Tool Works, Inc. | 3,995 | 972,583 | |
Oshkosh Corp. | 1,053 | 87,589 | |
Snap-on, Inc. | 7,001 | 1,728,477 | |
Timken Co. (The) | 19,481 | 1,591,987 | |
Xylem, Inc. | 17,165 | 1,797,175 | |
9,235,012 | |||
Media - 2.0% | |||
Altice USA, Inc., Class A * | 18,908 | 64,666 | |
Comcast Corp., Class A | 62,109 | 2,354,552 | |
Fox Corp., Class A | 59,565 | 2,028,188 | |
Fox Corp., Class B | 1,865 | 58,393 |
Shares/ Principal | Fair Value | ||
Media (continued) | |||
Liberty Media Corp.-Liberty SiriusXM, Class A * | 646 | $18,146 | |
4,523,945 | |||
Metals & Mining - 1.3% | |||
Commercial Metals Co. | 3,756 | 183,669 | |
Newmont Corp. | 19,996 | 980,204 | |
Reliance Steel & Aluminum Co. | 2,537 | 651,349 | |
Steel Dynamics, Inc. | 5,217 | 589,834 | |
United States Steel Corp. | 18,699 | 488,044 | |
2,893,100 | |||
Multi-Utilities - 2.1% | |||
CMS Energy Corp. | 29,450 | 1,807,641 | |
DTE Energy Co. | 20,013 | 2,192,224 | |
NiSource, Inc. | 28,473 | 796,105 | |
4,795,970 | |||
Office REITs - 0.1% | |||
Alexandria Real Estate Equities, Inc. | 1,342 | 168,542 | |
Kilroy Realty Corp. | 4,731 | 153,284 | |
321,826 | |||
Oil, Gas & Consumable Fuels - 6.5% | |||
Chevron Corp. | 35,418 | 5,778,801 | |
ConocoPhillips | 9,742 | 966,504 | |
EOG Resources, Inc. | 4,864 | 557,560 | |
Exxon Mobil Corp. | 50,873 | 5,578,733 | |
Marathon Oil Corp. | 11,080 | 265,477 | |
Ovintiv, Inc. | 637 | 22,983 | |
Phillips 66 | 962 | 97,527 | |
Valero Energy Corp. | 4,600 | 642,160 | |
Williams Cos., Inc. (The) | 19,952 | 595,767 | |
14,505,512 | |||
Passenger Airlines - 0.4% | |||
JetBlue Airways Corp. * | 17,961 | 130,756 | |
Southwest Airlines Co. | 25,223 | 820,757 | |
951,513 | |||
Pharmaceuticals - 4.6% | |||
Bristol-Myers Squibb Co. | 53,997 | 3,742,532 | |
Eli Lilly and Co. | 192 | 65,937 | |
Johnson & Johnson | 22,833 | 3,539,115 | |
Merck & Co., Inc. | 2,906 | 309,169 | |
Pfizer, Inc. | 62,398 | 2,545,838 | |
10,202,591 | |||
Professional Services - 0.2% | |||
KBR, Inc. | 3,957 | 217,833 | |
ManpowerGroup, Inc. | 1,799 | 148,471 | |
366,304 | |||
Real Estate Management & Development - 0.0%† | |||
Zillow Group, Inc., Class A * | 685 | 29,935 |
Global Atlantic BlackRock Disciplined Value Portfolio
Portfolio of Investments (Unaudited) (Continued)
March 31, 2023
Shares/ Principal | Fair Value | ||
Residential REITs - 1.0% | |||
Equity Residential | 36,128 | $2,167,680 | |
Retail REITs - 1.8% | |||
Brixmor Property Group, Inc. | 28,980 | 623,650 | |
Kimco Realty Corp. | 56,703 | 1,107,410 | |
Regency Centers Corp. | 7,631 | 466,864 | |
Simon Property Group, Inc. | 15,326 | 1,716,052 | |
3,913,976 | |||
Semiconductors & Semiconductor Equipment - 2.5% | |||
Analog Devices, Inc. | 14,577 | 2,874,876 | |
Intel Corp. | 78,529 | 2,565,542 | |
MaxLinear, Inc. * | 2,010 | 70,772 | |
NVIDIA Corp. | 649 | 180,273 | |
5,691,463 | |||
Software - 3.1% | |||
Adobe, Inc. * | 2,798 | 1,078,265 | |
Guidewire Software, Inc. * | 1,623 | 133,167 | |
Intuit, Inc. | 774 | 345,072 | |
Manhattan Associates, Inc. * | 8,252 | 1,277,822 | |
Rapid7, Inc. * | 3,435 | 157,701 | |
RingCentral, Inc., Class A * | 12,507 | 383,590 | |
Salesforce, Inc. * | 13,593 | 2,715,610 | |
ServiceNow, Inc. * | 88 | 40,895 | |
Splunk, Inc. * | 1,033 | 99,044 | |
Teradata Corp. * | 4,673 | 188,229 | |
VMware, Inc., Class A * | 1,300 | 162,305 | |
Workday, Inc., Class A * | 1,413 | 291,841 | |
6,873,541 | |||
Specialized REITs - 0.6% | |||
Lamar Advertising Co., Class A | 2,734 | 273,099 | |
SBA Communications Corp. | 3,671 | 958,388 | |
1,231,487 | |||
Specialty Retail - 1.6% | |||
AutoNation, Inc. * | 378 | 50,788 | |
Best Buy Co., Inc. | 4,607 | 360,590 | |
Dick's Sporting Goods, Inc. | 780 | 110,674 | |
Home Depot, Inc. (The) | 3,197 | 943,499 | |
Lowe's Cos., Inc. | 4,160 | 831,875 | |
Penske Automotive Group, Inc. | 2,309 | 327,439 | |
TJX Cos., Inc. (The) | 11,493 | 900,592 | |
3,525,457 | |||
Technology Hardware, Storage & Peripherals - 1.1% | |||
Dell Technologies, Inc., Class C | 7,180 | 288,708 | |
Hewlett Packard Enterprise Co. | 126,014 | 2,007,403 | |
HP, Inc. | 4,700 | 137,945 | |
2,434,056 | |||
Textiles, Apparel & Luxury Goods - 0.4% | |||
Lululemon Athletica, Inc. * | 2,333 | 849,655 |
Shares/ Principal | Fair Value | ||
Textiles, Apparel & Luxury Goods (continued) | |||
Under Armour, Inc., Class C * | 2,350 | $20,046 | |
869,701 | |||
Trading Companies & Distributors - 0.3% | |||
Herc Holdings, Inc. | 6,551 | 746,159 | |
Wireless Telecommunication Services - 0.1% | |||
United States Cellular Corp. * | 5,526 | 114,554 | |
Total Common Stocks | |||
(Cost - $204,397,359) | 220,508,846 | ||
Short-Term Investments - 1.4% | |||
Money Market Funds - 1.4% | |||
Fidelity Investments Money Market Fund - Government Portfolio, Institutional Class, 4.72%(a) (Cost - $3,097,096) | 3,097,096 | 3,097,096 | |
Total Investments - 99.9% | |||
(Cost - $207,494,455) | $223,605,942 | ||
Other Assets Less Liabilities - Net 0.1% | 205,365 | ||
Total Net Assets - 100.0% | $223,811,307 | ||
Global Atlantic BlackRock Disciplined Value Portfolio
Portfolio of Investments (Unaudited) (Continued)
March 31, 2023
* | Non-income producing security. |
† | Represents less than 0.05%. |
(a) | The rate shown is the annualized seven-day yield at period end. |
PLC | - | Public Limited Company |
Global Atlantic BlackRock Disciplined Value Portfolio
Portfolio of Investments (Unaudited) (Continued)
March 31, 2023
Futures Contracts | ||||||||||
Counterparty | Number of Contracts | Expiration Date | Notional Value | Fair Value/Unrealized Appreciation (Depreciation) | ||||||
Long Futures Contracts | ||||||||||
S&P 500 E-Mini Future | Goldman Sachs & Co. | 17 | 6/16/2023 | $3,517,088 | $177,221 |