Global Atlantic BlackRock Disciplined Core Portfolio
Portfolio of Investments (Unaudited)
September 30, 2023
Shares/ Principal | Fair Value | ||
Common Stocks - 98.4% | |||
Aerospace & Defense - 1.7% | |||
General Dynamics Corp. | 7,588 | $1,676,720 | |
Lockheed Martin Corp. | 15,461 | 6,322,931 | |
Northrop Grumman Corp. | 1,326 | 583,692 | |
Textron, Inc. | 5,487 | 428,754 | |
9,012,097 | |||
Air Freight & Logistics - 0.0%† | |||
FedEx Corp. | 916 | 242,667 | |
Automobiles - 2.8% | |||
Ford Motor Co. | 133,775 | 1,661,485 | |
General Motors Co. | 171,274 | 5,646,904 | |
Li Auto, Inc., ADR * | 4,541 | 161,887 | |
Tesla, Inc. * | 29,914 | 7,485,081 | |
14,955,357 | |||
Banks - 1.6% | |||
Bank of America Corp. | 191,617 | 5,246,473 | |
Citigroup, Inc. | 52,419 | 2,155,993 | |
ING Groep NV, ADR | 6,282 | 82,797 | |
JPMorgan Chase & Co. | 2,869 | 416,062 | |
KeyCorp | 58,410 | 628,492 | |
Synovus Financial Corp. | 6,181 | 171,832 | |
8,701,649 | |||
Beverages - 2.8% | |||
Coca-Cola Co. (The) | 106,535 | 5,963,829 | |
PepsiCo, Inc. | 54,171 | 9,178,734 | |
15,142,563 | |||
Biotechnology - 3.6% | |||
AbbVie, Inc. | 27,184 | 4,052,047 | |
Amgen, Inc. | 26,360 | 7,084,514 | |
Exelixis, Inc. * | 30,294 | 661,924 | |
Gilead Sciences, Inc. | 26,025 | 1,950,313 | |
Incyte Corp. * | 62,712 | 3,622,872 | |
Neurocrine Biosciences, Inc. * | 5,161 | 580,613 | |
Regeneron Pharmaceuticals, Inc. * | 1,613 | 1,327,434 | |
19,279,717 | |||
Broadline Retail - 4.0% | |||
Amazon.com, Inc. * | 163,738 | 20,814,375 | |
eBay, Inc. | 10,479 | 462,019 | |
JD.com, Inc., ADR | 7,377 | 214,892 | |
MINISO Group Holding Ltd., ADR | 2,069 | 53,587 | |
Vipshop Holdings Ltd., ADR * | 17,683 | 283,105 | |
21,827,978 | |||
Building Products - 1.1% | |||
A O Smith Corp. | 25,843 | 1,708,998 | |
Builders FirstSource, Inc. * | 7,478 | 930,936 | |
Johnson Controls International PLC | 5,024 | 267,327 | |
Owens Corning | 10,085 | 1,375,695 | |
Trane Technologies PLC | 9,421 | 1,911,615 | |
6,194,571 |
Shares/ Principal | Fair Value | ||
Capital Markets - 2.1% | |||
Bank of New York Mellon Corp. (The) | 6,034 | $257,350 | |
Moody's Corp. | 20,352 | 6,434,692 | |
Nasdaq, Inc. | 60,906 | 2,959,422 | |
S&P Global, Inc. | 4,482 | 1,637,768 | |
11,289,232 | |||
Chemicals - 1.3% | |||
Ecolab, Inc. | 16,081 | 2,724,121 | |
LyondellBasell Industries NV, Class A | 1,890 | 178,983 | |
Sherwin-Williams Co. (The) | 16,816 | 4,288,921 | |
7,192,025 | |||
Commercial Services & Supplies - 1.1% | |||
Cintas Corp. | 6,478 | 3,115,983 | |
Republic Services, Inc. | 19,718 | 2,810,012 | |
5,925,995 | |||
Communications Equipment - 0.1% | |||
Arista Networks, Inc. * | 1,543 | 283,804 | |
Juniper Networks, Inc. | 11,095 | 308,330 | |
592,134 | |||
Construction & Engineering - 0.9% | |||
AECOM | 16,452 | 1,366,174 | |
EMCOR Group, Inc. | 7,186 | 1,511,863 | |
Valmont Industries, Inc. | 8,344 | 2,004,312 | |
4,882,349 | |||
Construction Materials - 1.0% | |||
Martin Marietta Materials, Inc. | 7,870 | 3,230,478 | |
Vulcan Materials Co. | 10,722 | 2,166,058 | |
5,396,536 | |||
Consumer Staples Distribution & Retail - 2.0% | |||
Sysco Corp. | 36,361 | 2,401,644 | |
Walmart, Inc. | 52,479 | 8,392,966 | |
10,794,610 | |||
Electric Utilities - 1.2% | |||
IDACORP, Inc. | 4,036 | 377,971 | |
OGE Energy Corp. | 16,484 | 549,412 | |
Portland General Electric Co. | 1,783 | 72,176 | |
PPL Corp. | 236,869 | 5,580,634 | |
6,580,193 | |||
Electrical Equipment - 0.2% | |||
AMETEK, Inc. | 8,875 | 1,311,370 | |
Electronic Equipment, Instruments & Components - 0.7% | |||
Flex Ltd. * | 12,082 | 325,972 | |
TE Connectivity Ltd. | 26,930 | 3,326,663 | |
3,652,635 | |||
Entertainment - 0.8% | |||
Bilibili, Inc., ADR * | 51,864 | 714,167 | |
Electronic Arts, Inc. | 17,228 | 2,074,251 | |
NetEase, Inc., ADR | 1,121 | 112,279 |
Global Atlantic BlackRock Disciplined Core Portfolio
Portfolio of Investments (Unaudited) (Continued)
September 30, 2023
Shares/ Principal | Fair Value | ||
Entertainment (continued) | |||
Netflix, Inc. * | 2,574 | $971,943 | |
Playtika Holding Corp. * | 34,436 | 331,619 | |
Sea Ltd., ADR * | 2,150 | 94,493 | |
Warner Bros Discovery, Inc. * | 21,390 | 232,295 | |
4,531,047 | |||
Financial Services - 5.0% | |||
Berkshire Hathaway, Inc., Class B * | 13,076 | 4,580,523 | |
Block, Inc. * | 34,904 | 1,544,851 | |
Euronet Worldwide, Inc. * | 2,987 | 237,108 | |
Fidelity National Information Services, Inc. | 8,333 | 460,565 | |
Mastercard, Inc., Class A | 26,902 | 10,650,771 | |
Visa, Inc., Class A | 40,332 | 9,276,763 | |
26,750,581 | |||
Food Products - 1.3% | |||
Archer-Daniels-Midland Co. | 38,420 | 2,897,637 | |
Hershey Co. (The) | 21,827 | 4,367,146 | |
7,264,783 | |||
Health Care Equipment & Supplies - 2.2% | |||
Abbott Laboratories | 31,397 | 3,040,799 | |
Boston Scientific Corp. * | 6,185 | 326,568 | |
IDEXX Laboratories, Inc. * | 1,254 | 548,337 | |
Medtronic PLC | 15,050 | 1,179,318 | |
ResMed, Inc. | 5,717 | 845,373 | |
Stryker Corp. | 20,848 | 5,697,133 | |
11,637,528 | |||
Health Care Providers & Services - 2.2% | |||
Elevance Health, Inc. | 12,858 | 5,598,630 | |
Ensign Group, Inc. (The) | 572 | 53,156 | |
HCA Healthcare, Inc. | 10,837 | 2,665,685 | |
Tenet Healthcare Corp. * | 2,120 | 139,687 | |
UnitedHealth Group, Inc. | 6,866 | 3,461,769 | |
11,918,927 | |||
Health Care Technology - 0.0%† | |||
Teladoc Health, Inc. * | 7,571 | 140,745 | |
Hotels, Restaurants & Leisure - 0.9% | |||
Boyd Gaming Corp. | 15,965 | 971,151 | |
McDonald's Corp. | 7,761 | 2,044,558 | |
Melco Resorts & Entertainment Ltd., ADR * | 11,041 | 109,195 | |
Travel + Leisure Co. | 42,527 | 1,562,017 | |
Trip.com Group Ltd., ADR * | 4,599 | 160,827 | |
4,847,748 | |||
Household Durables - 0.8% | |||
DR Horton, Inc. | 14,678 | 1,577,445 | |
Leggett & Platt, Inc. | 32,308 | 820,946 | |
PulteGroup, Inc. | 11,182 | 828,027 | |
Toll Brothers, Inc. | 14,727 | 1,089,209 | |
4,315,627 |
Shares/ Principal | Fair Value | ||
Household Products - 1.1% | |||
Colgate-Palmolive Co. | 3,930 | $279,462 | |
Kimberly-Clark Corp. | 48,004 | 5,801,284 | |
6,080,746 | |||
Independent Power and Renewable Electricity Producers - 0.2% | |||
AES Corp. (The) | 59,035 | 897,332 | |
Industrial Conglomerates - 0.5% | |||
Honeywell International, Inc. | 14,540 | 2,686,120 | |
Insurance - 3.1% | |||
Chubb Ltd. | 10,871 | 2,263,125 | |
Everest Group Ltd. | 2,346 | 871,938 | |
Hartford Financial Services Group, Inc. (The) | 6,307 | 447,229 | |
Marsh & McLennan Cos., Inc. | 18,696 | 3,557,849 | |
MetLife, Inc. | 83,465 | 5,250,783 | |
Prudential Financial, Inc. | 1,971 | 187,028 | |
Reinsurance Group of America, Inc. | 10,508 | 1,525,657 | |
Travelers Cos., Inc. (The) | 16,104 | 2,629,944 | |
16,733,553 | |||
Interactive Media & Services - 7.3% | |||
Alphabet, Inc., Class A * | 125,304 | 16,397,281 | |
Alphabet, Inc., Class C * | 74,488 | 9,821,243 | |
Baidu, Inc., ADR * | 5,366 | 720,922 | |
Meta Platforms, Inc., Class A * | 41,008 | 12,311,012 | |
39,250,458 | |||
Life Sciences Tools & Services - 0.3% | |||
Agilent Technologies, Inc. | 15,732 | 1,759,152 | |
Machinery - 2.3% | |||
Caterpillar, Inc. | 2,797 | 763,581 | |
Graco, Inc. | 6,566 | 478,530 | |
Illinois Tool Works, Inc. | 16,920 | 3,896,845 | |
Oshkosh Corp. | 21,533 | 2,054,894 | |
Otis Worldwide Corp. | 17,440 | 1,400,607 | |
Parker-Hannifin Corp. | 544 | 211,899 | |
Snap-on, Inc. | 7,880 | 2,009,873 | |
Timken Co. (The) | 1,276 | 93,773 | |
Xylem, Inc. | 14,713 | 1,339,324 | |
12,249,326 | |||
Media - 1.5% | |||
Comcast Corp., Class A | 88,693 | 3,932,648 | |
Fox Corp., Class A | 100,257 | 3,128,018 | |
Fox Corp., Class B | 2,640 | 76,243 | |
Liberty Media Corp-Liberty SiriusXM * | 33,481 | 852,426 | |
7,989,335 | |||
Metals & Mining - 0.1% | |||
ArcelorMittal SA | 13,939 | 348,893 | |
Steel Dynamics, Inc. | 631 | 67,656 | |
416,549 |
Global Atlantic BlackRock Disciplined Core Portfolio
Portfolio of Investments (Unaudited) (Continued)
September 30, 2023
Shares/ Principal | Fair Value | ||
Oil, Gas & Consumable Fuels - 4.0% | |||
BP PLC, ADR | 19,731 | $763,984 | |
Chevron Corp. | 29,993 | 5,057,420 | |
ConocoPhillips | 16,657 | 1,995,509 | |
Devon Energy Corp. | 62,235 | 2,968,609 | |
EOG Resources, Inc. | 8,974 | 1,137,544 | |
Exxon Mobil Corp. | 21,304 | 2,504,924 | |
Imperial Oil Ltd. | 1,061 | 65,347 | |
Marathon Oil Corp. | 3,359 | 89,853 | |
Marathon Petroleum Corp. | 2,525 | 382,134 | |
Pioneer Natural Resources Co. | 10,805 | 2,480,288 | |
Targa Resources Corp. | 14,990 | 1,284,943 | |
Valero Energy Corp. | 17,396 | 2,465,187 | |
Williams Cos., Inc. (The) | 3,398 | 114,479 | |
21,310,221 | |||
Paper & Forest Products - 0.0%† | |||
Louisiana-Pacific Corp. | 944 | 52,175 | |
Passenger Airlines - 0.1% | |||
United Airlines Holdings, Inc. * | 11,003 | 465,427 | |
Pharmaceuticals - 4.1% | |||
Bristol-Myers Squibb Co. | 106,042 | 6,154,677 | |
Eli Lilly and Co. | 16,060 | 8,626,308 | |
Johnson & Johnson | 24,857 | 3,871,478 | |
Merck & Co., Inc. | 13,421 | 1,381,692 | |
Pfizer, Inc. | 59,405 | 1,970,464 | |
22,004,619 | |||
Real Estate Management & Development - 0.1% | |||
KE Holdings, Inc., ADR | 19,445 | 301,786 | |
Residential REITs - 0.9% | |||
AvalonBay Communities, Inc. | 702 | 120,561 | |
Camden Property Trust | 26,377 | 2,494,737 | |
Equity Residential | 37,763 | 2,217,066 | |
4,832,364 | |||
Retail REITs - 0.1% | |||
Simon Property Group, Inc. | 4,160 | 449,405 | |
Semiconductors & Semiconductor Equipment - 7.9% | |||
Advanced Micro Devices, Inc. * | 1,603 | 164,820 | |
Applied Materials, Inc. | 48,595 | 6,727,978 | |
ARM Holdings PLC, ADR * | 11,675 | 624,846 | |
Broadcom, Inc. | 1,602 | 1,330,589 | |
Intel Corp. | 120,226 | 4,274,034 | |
KLA Corp. | 495 | 227,037 | |
Lam Research Corp. | 4,206 | 2,636,195 | |
MaxLinear, Inc. * | 5,263 | 117,102 | |
NVIDIA Corp. | 46,401 | 20,183,971 | |
NXP Semiconductors NV | 10,807 | 2,160,535 | |
QUALCOMM, Inc. | 32,149 | 3,570,468 |
Shares/ Principal | Fair Value | ||
Semiconductors & Semiconductor Equipment (continued) | |||
Texas Instruments, Inc. | 3,653 | $580,864 | |
42,598,439 | |||
Software - 10.9% | |||
Adobe, Inc. * | 9,914 | 5,055,149 | |
Autodesk, Inc. * | 4,882 | 1,010,135 | |
Cadence Design Systems, Inc. * | 7,546 | 1,768,028 | |
Fortinet, Inc. * | 19,340 | 1,134,871 | |
Intuit, Inc. | 1,061 | 542,107 | |
Manhattan Associates, Inc. * | 14,549 | 2,875,755 | |
Microsoft Corp. | 128,601 | 40,605,766 | |
Oracle Corp. | 8,994 | 952,645 | |
Salesforce, Inc. * | 15,100 | 3,061,978 | |
ServiceNow, Inc. * | 1,863 | 1,041,342 | |
Synopsys, Inc. * | 1,026 | 470,903 | |
58,518,679 | |||
Specialized REITs - 0.3% | |||
SBA Communications Corp. | 8,165 | 1,634,388 | |
Specialty Retail - 2.2% | |||
AutoNation, Inc. * | 6,109 | 924,903 | |
Best Buy Co., Inc. | 24,205 | 1,681,521 | |
Five Below, Inc. * | 8,152 | 1,311,657 | |
O'Reilly Automotive, Inc. * | 864 | 785,255 | |
Penske Automotive Group, Inc. | 4,217 | 704,492 | |
TJX Cos., Inc. (The) | 75,508 | 6,711,151 | |
12,118,979 | |||
Technology Hardware, Storage & Peripherals - 8.5% | |||
Apple, Inc. | 240,003 | 41,090,914 | |
Dell Technologies, Inc., Class C | 13,899 | 957,641 | |
Hewlett Packard Enterprise Co. | 198,195 | 3,442,647 | |
HP, Inc. | 5,613 | 144,254 | |
45,635,456 | |||
Textiles, Apparel & Luxury Goods - 0.7% | |||
Lululemon Athletica, Inc. * | 2,824 | 1,088,963 | |
NIKE, Inc., Class B | 6,965 | 665,993 | |
Skechers USA, Inc., Class A * | 36,993 | 1,810,807 | |
3,565,763 | |||
Trading Companies & Distributors - 0.8% | |||
WW Grainger, Inc. | 6,274 | 4,340,604 | |
Total Common Stocks | |||
(Cost - $416,401,313) | 530,271,540 | ||
Short-Term Investments - 1.4% | |||
Money Market Funds - 1.4% | |||
Fidelity Investments Money Market Fund - Government Portfolio, Institutional Class, 5.23%(a) (Cost - $7,394,066) | 7,394,066 | 7,394,066 |
Global Atlantic BlackRock Disciplined Core Portfolio
Portfolio of Investments (Unaudited) (Continued)
September 30, 2023
Fair Value | |||
Total Investments - 99.8% | |||
(Cost - $423,795,379) | $537,665,606 | ||
Other Assets Less Liabilities - Net 0.2% | 873,590 | ||
Total Net Assets - 100.0% | $538,539,196 | ||
* | Non-income producing security. |
† | Represents less than 0.05%. |
(a) | The rate shown is the annualized seven-day yield at period end. |
ADR | - | American Depositary Receipt |
PLC | - | Public Limited Company |
Global Atlantic BlackRock Disciplined Core Portfolio
Portfolio of Investments (Unaudited) (Continued)
September 30, 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. | 41 | 12/15/2023 | $8,867,275 | $(269,252) | ||||||