Global Atlantic BlackRock Selects Managed Risk Portfolio
Portfolio of Investments (Unaudited)
March 31, 2023
| Shares/ Principal | Fair Value | ||||
| Exchange Traded Funds - 73.7% | |||||
| Debt Funds - 27.4% | |||||
| iShares 1-3 Year Treasury Bond ETF | 172,738 | $14,192,154 | |||
| iShares 20+ Year Treasury Bond ETF | 23,804 | 2,532,031 | |||
| iShares 3-7 Year Treasury Bond ETF | 22,082 | 2,597,947 | |||
| iShares 7-10 Year Treasury Bond ETF | 17,634 | 1,747,882 | |||
| iShares iBoxx $ Investment Grade Corporate Bond ETF | 108,006 | 11,838,538 | |||
| iShares iBoxx High Yield Corporate Bond ETF | 45,364 | 3,427,250 | |||
| iShares JP Morgan USD Emerging Markets Bond ETF | 9,899 | 854,086 | |||
| iShares MBS ETF | 114,946 | 10,888,835 | |||
| Total Debt Funds | 48,078,723 | ||||
| Equity Funds - 46.3% | |||||
| iShares Core Dividend Growth ETF | 134,736 | 6,735,453 | |||
| iShares Core MSCI EAFE ETF | 140,718 | 9,406,998 | |||
| iShares Core MSCI Emerging Markets ETF | 17,311 | 844,604 | |||
| iShares Core S&P 500 ETF | 16,628 | 6,835,438 | |||
| iShares Core S&P U.S. Growth ETF | 328,423 | 29,154,110 | |||
| iShares Core S&P U.S. Value ETF | 45,791 | 3,378,460 | |||
| iShares Global Healthcare ETF | 10,437 | 870,028 | |||
| iShares Global Materials ETF | 20,192 | 1,689,545 | |||
| iShares MSCI EAFE Min Vol Factor ETF | 25,821 | 1,746,791 | |||
| iShares MSCI Eurozone ETF | 228,301 | 10,291,809 | |||
| iShares MSCI Global Min Vol Factor ETF | 27,016 | 2,613,798 | |||
| iShares MSCI USA Quality Factor ETF | 41,350 | 5,130,088 | |||
| iShares U.S. Energy ETF | 56,197 | 2,458,619 | |||
| Total Equity Funds | 81,155,741 | ||||
| Total Exchange Traded Funds | |||||
| (Cost - $114,149,554) | 129,234,464 | ||||
| Variable Insurance Trusts - 22.3% | |||||
| Asset Allocation Fund - 22.3% | |||||
| BlackRock Global Allocation VI Fund, Class I (Cost - $38,108,495)* | 2,552,658 | 39,183,305 | |||
| Short-Term Investments - 3.5% | |||||
| Money Market Funds - 3.5% | |||||
| Dreyfus Government Cash Management, 4.71%(a) | 4,140,446 | 4,140,446 | |||
| Fidelity Investments Money Market Fund - Government Portfolio, Institutional Class, 4.72%(a) | 2,009,604 | 2,009,604 | |||
| Total Short-Term Investments (Cost - $6,150,050) | 6,150,050 | ||||
| Total Investments - 99.5% | |||||
| (Cost - $158,408,099) | $174,567,819 | ||||
| Other Assets Less Liabilities - Net 0.5% | 890,173 | ||||
| Total Net Assets - 100.0% | $175,457,992 | ||||
Global Atlantic BlackRock Selects Managed Risk Portfolio
Portfolio of Investments (Unaudited) (Continued)
March 31, 2023
| * | Non-income producing security. |
| (a) | The rate shown is the annualized seven-day yield at period end. |
| Futures Contracts | |||||||||||
| Counterparty | Number of Contracts | Expiration Date | Notional Value | Fair Value/Unrealized Appreciation (Depreciation) | |||||||
| Short Futures Contracts | |||||||||||
| E-Mini Russell 2000 Future | Goldman Sachs & Co. | 8 | 6/16/2023 | $725,400 | $(12,903) | ||||||
| MSCI EAFE Future | Goldman Sachs & Co. | 68 | 6/16/2023 | 7,128,100 | (319,470) | ||||||
| MSCI Emerging Market Index Future | Goldman Sachs & Co. | 27 | 6/16/2023 | 1,343,925 | (54,810) | ||||||
| S&P 500 E-Mini Future | Goldman Sachs & Co. | 69 | 6/16/2023 | 14,275,238 | (781,245) | ||||||
| S&P MID 400 E-Mini Future | Goldman Sachs & Co. | 6 | 6/16/2023 | 1,517,820 | (47,475) | ||||||
| TOTAL NET UNREALIZED DEPRECIATION ON FUTURES CONTRACTS | $(1,215,903) | ||||||||||