Global Atlantic BlackRock Disciplined Core Portfolio
Portfolio of Investments (Unaudited)
September 30, 2024
| | Shares/ Principal | | Fair Value |
Common Stocks - 98.5% | | | | |
Aerospace & Defense - 2.2% | | | | |
General Dynamics Corp. | | 11,422 | | $3,451,728 |
HEICO Corp., Class A | | 2,690 | | 548,114 |
Lockheed Martin Corp. | | 9,569 | | 5,593,655 |
Northrop Grumman Corp. | | 5,356 | | 2,828,343 |
RTX Corp. | | 7,585 | | 918,999 |
Textron, Inc. | | 9,619 | | 852,051 |
TransDigm Group, Inc. | | 223 | | 318,250 |
| | | | 14,511,140 |
Air Freight & Logistics - 0.6% | | | | |
Expeditors International of Washington, Inc. | | 13,757 | | 1,807,670 |
United Parcel Service, Inc., Class B | | 15,510 | | 2,114,633 |
| | | | 3,922,303 |
Automobile Components - 0.0%† | | | | |
BorgWarner, Inc. | | 7,565 | | 274,534 |
| | | | |
Automobiles - 1.4% | | | | |
General Motors Co. | | 32,331 | | 1,449,722 |
Li Auto, Inc., ADR * | | 4,704 | | 120,658 |
Tesla, Inc. * | | 29,349 | | 7,678,579 |
| | | | 9,248,959 |
Banks - 2.9% | | | | |
Bank of America Corp. | | 129,821 | | 5,151,297 |
Citigroup, Inc. | | 52,621 | | 3,294,074 |
Citizens Financial Group, Inc. | | 11,338 | | 465,652 |
JPMorgan Chase & Co. | | 35,437 | | 7,472,246 |
Wells Fargo & Co. | | 47,198 | | 2,666,215 |
| | | | 19,049,484 |
Beverages - 0.2% | | | | |
Coca-Cola Co. (The) | | 13,811 | | 992,459 |
| | | | |
Biotechnology - 1.7% | | | | |
AbbVie, Inc. | | 3,259 | | 643,587 |
Amgen, Inc. | | 5,573 | | 1,795,676 |
Biogen, Inc. * | | 9,142 | | 1,772,085 |
Blueprint Medicines Corp. * | | 2,420 | | 223,850 |
Exelixis, Inc. * | | 13,125 | | 340,594 |
Gilead Sciences, Inc. | | 38,603 | | 3,236,476 |
Moderna, Inc. * | | 3,448 | | 230,430 |
Natera, Inc. * | | 5,527 | | 701,653 |
Neurocrine Biosciences, Inc. * | | 11,417 | | 1,315,467 |
Sarepta Therapeutics, Inc. * | | 580 | | 72,436 |
United Therapeutics Corp. * | | 1,881 | | 674,056 |
| | | | 11,006,310 |
Broadline Retail - 4.4% | | | | |
Amazon.com, Inc. * | | 149,180 | | 27,796,709 |
JD.com, Inc., ADR | | 3,034 | | 121,360 |
MercadoLibre, Inc. * | | 224 | | 459,639 |
| | | | 28,377,708 |
Building Products - 0.5% | | | | |
Trane Technologies PLC | | 8,854 | | 3,441,815 |
| | | | |
Capital Markets - 2.2% | | | | |
Cboe Global Markets, Inc. | | 635 | | 130,093 |
| | Shares/ Principal | | Fair Value |
| | | | |
Capital Markets (continued) | | | | |
Charles Schwab Corp. (The) | | 15,694 | | $1,017,128 |
CME Group, Inc. | | 18,373 | | 4,054,003 |
Franklin Resources, Inc. | | 10,883 | | 219,292 |
Interactive Brokers Group, Inc., Class A | | 792 | | 110,373 |
Intercontinental Exchange, Inc. | | 959 | | 154,054 |
Invesco Ltd. | | 178,714 | | 3,138,218 |
Morgan Stanley | | 18,884 | | 1,968,468 |
S&P Global, Inc. | | 3,094 | | 1,598,422 |
State Street Corp. | | 17,188 | | 1,520,622 |
| | | | 13,910,673 |
Chemicals - 0.4% | | | | |
Ecolab, Inc. | | 4,194 | | 1,070,854 |
Huntsman Corp. | | 41,818 | | 1,011,995 |
Sherwin-Williams Co. (The) | | 1,504 | | 574,032 |
| | | | 2,656,881 |
Commercial Services & Supplies - 1.7% | | | | |
Cintas Corp. | | 31,530 | | 6,491,396 |
Veralto Corp. | | 687 | | 76,848 |
Waste Connections, Inc. | | 3,726 | | 666,283 |
Waste Management, Inc. | | 16,578 | | 3,441,593 |
| | | | 10,676,120 |
Communications Equipment - 1.1% | | | | |
Arista Networks, Inc. * | | 6,183 | | 2,373,159 |
Cisco Systems, Inc. | | 9,287 | | 494,254 |
Juniper Networks, Inc. | | 4,313 | | 168,121 |
Motorola Solutions, Inc. | | 8,342 | | 3,750,813 |
| | | | 6,786,347 |
Construction & Engineering - 0.4% | | | | |
Comfort Systems USA, Inc. | | 2,437 | | 951,283 |
EMCOR Group, Inc. | | 2,636 | | 1,134,877 |
MasTec, Inc. * | | 4,891 | | 602,082 |
| | | | 2,688,242 |
Construction Materials - 0.0%† | | | | |
Vulcan Materials Co. | | 309 | | 77,383 |
| | | | |
Consumer Finance - 0.3% | | | | |
American Express Co. | | 4,495 | | 1,219,044 |
OneMain Holdings, Inc. | | 14,917 | | 702,143 |
| | | | 1,921,187 |
Consumer Staples Distribution & Retail - 2.5% | | | | |
Costco Wholesale Corp. | | 6,913 | | 6,128,513 |
Kroger Co. (The) | | 41,689 | | 2,388,780 |
Target Corp. | | 2,676 | | 417,081 |
Walmart, Inc. | | 89,816 | | 7,252,642 |
| | | | 16,187,016 |
Containers & Packaging - 0.2% | | | | |
Crown Holdings, Inc. | | 11,952 | | 1,145,958 |
Packaging Corp. of America | | 1,879 | | 404,736 |
| | | | 1,550,694 |
Diversified Telecommunication Services - 0.7% | | | | |
AT&T, Inc. | | 118,952 | | 2,616,944 |
Global Atlantic BlackRock Disciplined Core Portfolio
Portfolio of Investments (Unaudited) (Continued)
September 30, 2024
| | Shares/ Principal | | Fair Value |
| | | | |
Diversified Telecommunication Services (continued) | | | | |
Verizon Communications, Inc. | | 41,897 | | $1,881,594 |
| | | | 4,498,538 |
Electric Utilities - 1.3% | | | | |
Entergy Corp. | | 2,704 | | 355,874 |
Exelon Corp. | | 87,891 | | 3,563,980 |
IDACORP, Inc. | | 18,746 | | 1,932,525 |
OGE Energy Corp. | | 25,365 | | 1,040,472 |
Pinnacle West Capital Corp. | | 13,192 | | 1,168,679 |
| | | | 8,061,530 |
Electrical Equipment - 1.2% | | | | |
AMETEK, Inc. | | 898 | | 154,195 |
Eaton Corp. PLC | | 20,229 | | 6,704,700 |
Emerson Electric Co. | | 6,940 | | 759,028 |
| | | | 7,617,923 |
Electronic Equipment, Instruments & Components - 1.2% | | | | |
Amphenol Corp., Class A | | 28,473 | | 1,855,301 |
Flex Ltd. * | | 37,126 | | 1,241,122 |
TE Connectivity PLC | | 32,363 | | 4,886,489 |
| | | | 7,982,912 |
Energy Equipment & Services - 0.7% | | | | |
Halliburton Co. | | 113,095 | | 3,285,410 |
Schlumberger NV | | 35,186 | | 1,476,053 |
| | | | 4,761,463 |
Entertainment - 0.6% | | | | |
Netflix, Inc. * | | 5,262 | | 3,732,179 |
ROBLOX Corp., Class A * | | 4,690 | | 207,579 |
Walt Disney Co. (The) | | 2,351 | | 226,143 |
| | | | 4,165,901 |
Financial Services - 5.0% | | | | |
Berkshire Hathaway, Inc., Class B * | | 23,359 | | 10,751,213 |
Fiserv, Inc. * | | 616 | | 110,664 |
Mastercard, Inc., Class A | | 21,478 | | 10,605,836 |
PayPal Holdings, Inc. * | | 6,821 | | 532,243 |
Visa, Inc., Class A | | 38,450 | | 10,571,828 |
| | | | 32,571,784 |
Food Products - 0.1% | | | | |
Tyson Foods, Inc., Class A | | 7,048 | | 419,779 |
| | | | |
Ground Transportation - 0.6% | | | | |
CSX Corp. | | 73,755 | | 2,546,760 |
Uber Technologies, Inc. * | | 20,985 | | 1,577,233 |
| | | | 4,123,993 |
Health Care Equipment & Supplies - 2.4% | | | | |
Abbott Laboratories | | 8,699 | | 991,773 |
Becton Dickinson & Co. | | 6,960 | | 1,678,056 |
Boston Scientific Corp. * | | 44,995 | | 3,770,581 |
Edwards Lifesciences Corp. * | | 5,793 | | 382,280 |
Medtronic PLC | | 40,741 | | 3,667,912 |
| | Shares/ Principal | | Fair Value |
| | | | |
Health Care Equipment & Supplies (continued) | | | | |
Stryker Corp. | | 13,415 | | $4,846,303 |
| | | | 15,336,905 |
Health Care Providers & Services - 2.8% | | | | |
Cardinal Health, Inc. | | 7,608 | | 840,836 |
Centene Corp. * | | 21,926 | | 1,650,589 |
Cigna Corp. (The) | | 5,980 | | 2,071,711 |
Elevance Health, Inc. | | 3,061 | | 1,591,720 |
Encompass Health Corp. | | 1,515 | | 146,410 |
HCA Healthcare, Inc. | | 9,999 | | 4,063,894 |
McKesson Corp. | | 855 | | 422,729 |
Quest Diagnostics, Inc. | | 3,006 | | 466,681 |
Tenet Healthcare Corp. * | | 659 | | 109,526 |
UnitedHealth Group, Inc. | | 10,991 | | 6,426,218 |
Universal Health Services, Inc., Class B | | 996 | | 228,094 |
| | | | 18,018,408 |
Hotels, Restaurants & Leisure - 1.5% | | | | |
Booking Holdings, Inc. | | 736 | | 3,100,121 |
Boyd Gaming Corp. | | 2 | | 129 |
Carnival Corp. * | | 22,177 | | 409,831 |
Chipotle Mexican Grill, Inc. * | | 23,600 | | 1,359,832 |
Domino's Pizza, Inc. | | 1,688 | | 726,076 |
Marriott International, Inc., Class A | | 3,465 | | 861,399 |
Texas Roadhouse, Inc. | | 11,770 | | 2,078,582 |
Wingstop, Inc. | | 1,873 | | 779,318 |
Yum! Brands, Inc. | | 4,493 | | 627,717 |
| | | | 9,943,005 |
Household Durables - 1.0% | | | | |
DR Horton, Inc. | | 5,456 | | 1,040,841 |
Lennar Corp., Class A | | 839 | | 157,296 |
NVR, Inc. * | | 121 | | 1,187,228 |
PulteGroup, Inc. | | 8,168 | | 1,172,353 |
Taylor Morrison Home Corp. * | | 5,231 | | 367,530 |
Toll Brothers, Inc. | | 12,741 | | 1,968,357 |
Whirlpool Corp. | | 5,748 | | 615,036 |
| | | | 6,508,641 |
Household Products - 1.7% | | | | |
Colgate-Palmolive Co. | | 24,979 | | 2,593,070 |
Kimberly-Clark Corp. | | 35,727 | | 5,083,238 |
Procter & Gamble Co. (The) | | 18,000 | | 3,117,600 |
| | | | 10,793,908 |
Independent Power and Renewable Electricity Producers - 0.0%† | | | | |
Vistra Corp. | | 2,278 | | 270,034 |
| | | | |
Industrial REITs - 0.3% | | | | |
Lineage, Inc. | | 14,415 | | 1,129,848 |
Prologis, Inc. | | 6,058 | | 765,004 |
| | | | 1,894,852 |
Insurance - 2.2% | | | | |
Allstate Corp. (The) | | 15,768 | | 2,990,401 |
Brown & Brown, Inc. | | 18,193 | | 1,884,795 |
Global Atlantic BlackRock Disciplined Core Portfolio
Portfolio of Investments (Unaudited) (Continued)
September 30, 2024
| | Shares/ Principal | | Fair Value |
| | | | |
Insurance (continued) | | | | |
Marsh & McLennan Cos., Inc. | | 27,389 | | $6,110,212 |
Progressive Corp. (The) | | 12,860 | | 3,263,354 |
Reinsurance Group of America, Inc. | | 870 | | 189,547 |
| | | | 14,438,309 |
Interactive Media & Services - 6.5% | | | | |
Alphabet, Inc., Class A | | 89,057 | | 14,770,104 |
Alphabet, Inc., Class C | | 62,911 | | 10,518,090 |
Meta Platforms, Inc., Class A | | 28,096 | | 16,083,274 |
Snap, Inc., Class A * | | 44,630 | | 477,541 |
| | | | 41,849,009 |
IT Services - 0.4% | | | | |
Accenture PLC, Class A | | 5,930 | | 2,096,136 |
Kyndryl Holdings, Inc. * | | 11,204 | | 257,468 |
| | | | 2,353,604 |
Life Sciences Tools & Services - 1.1% | | | | |
Agilent Technologies, Inc. | | 8,528 | | 1,266,238 |
IQVIA Holdings, Inc. * | | 2,759 | | 653,800 |
Thermo Fisher Scientific, Inc. | | 8,679 | | 5,368,569 |
| | | | 7,288,607 |
Machinery - 1.8% | | | | |
Caterpillar, Inc. | | 7,276 | | 2,845,789 |
Dover Corp. | | 1,030 | | 197,492 |
Illinois Tool Works, Inc. | | 7,313 | | 1,916,518 |
Oshkosh Corp. | | 17,412 | | 1,744,857 |
Parker-Hannifin Corp. | | 5,253 | | 3,318,950 |
Westinghouse Air Brake Technologies Corp. | | 3,965 | | 720,718 |
Xylem, Inc. | | 6,060 | | 818,282 |
| | | | 11,562,606 |
Media - 1.0% | | | | |
Comcast Corp., Class A | | 123,721 | | 5,167,826 |
Fox Corp., Class A | | 35,997 | | 1,523,753 |
Fox Corp., Class B | | 1,799 | | 69,801 |
| | | | 6,761,380 |
Metals & Mining - 0.6% | | | | |
Freeport-McMoRan, Inc. | | 20,949 | | 1,045,774 |
Nucor Corp. | | 18,845 | | 2,833,157 |
| | | | 3,878,931 |
Multi-Utilities - 0.6% | | | | |
CMS Energy Corp. | | 56,232 | | 3,971,666 |
| | | | |
Oil, Gas & Consumable Fuels - 1.9% | | | | |
Chevron Corp. | | 23,994 | | 3,533,596 |
ConocoPhillips | | 10,515 | | 1,107,019 |
Devon Energy Corp. | | 15,993 | | 625,646 |
Exxon Mobil Corp. | | 45,925 | | 5,383,325 |
Marathon Petroleum Corp. | | 6,126 | | 997,987 |
Ovintiv, Inc. | | 3,455 | | 132,361 |
Phillips 66 | | 3,713 | | 488,074 |
| | | | 12,268,008 |
| | Shares/ Principal | | Fair Value |
| | | | |
Paper & Forest Products - 0.1% | | | | |
Louisiana-Pacific Corp. | | 3,627 | | $389,757 |
| | | | |
Passenger Airlines - 0.2% | | | | |
Alaska Air Group, Inc. * | | 10,779 | | 487,319 |
United Airlines Holdings, Inc. * | | 8,689 | | 495,794 |
| | | | 983,113 |
Pharmaceuticals - 4.2% | | | | |
Bristol-Myers Squibb Co. | | 30,317 | | 1,568,602 |
Eli Lilly & Co. | | 12,328 | | 10,921,868 |
Johnson & Johnson | | 18,445 | | 2,989,197 |
Merck & Co., Inc. | | 49,748 | | 5,649,383 |
Pfizer, Inc. | | 140,724 | | 4,072,553 |
Zoetis, Inc. | | 8,733 | | 1,706,253 |
| | | | 26,907,856 |
Professional Services - 0.1% | | | | |
Automatic Data Processing, Inc. | | 425 | | 117,610 |
Leidos Holdings, Inc. | | 4,230 | | 689,490 |
Verisk Analytics, Inc. | | 223 | | 59,755 |
| | | | 866,855 |
Residential REITs - 0.4% | | | | |
AvalonBay Communities, Inc. | | 5,013 | | 1,129,178 |
Camden Property Trust | | 1,708 | | 210,989 |
Essex Property Trust, Inc. | | 3,287 | | 971,046 |
| | | | 2,311,213 |
Retail REITs - 0.5% | | | | |
NNN REIT, Inc. | | 12,026 | | 583,141 |
Simon Property Group, Inc. | | 17,251 | | 2,915,764 |
| | | | 3,498,905 |
Semiconductors & Semiconductor Equipment - 11.0% | | | | |
Advanced Micro Devices, Inc. * | | 10,899 | | 1,788,308 |
Applied Materials, Inc. | | 9,262 | | 1,871,387 |
Broadcom, Inc. | | 47,853 | | 8,254,642 |
Intel Corp. | | 62,271 | | 1,460,878 |
KLA Corp. | | 566 | | 438,316 |
Lam Research Corp. | | 7,333 | | 5,984,315 |
Micron Technology, Inc. | | 30,136 | | 3,125,405 |
Monolithic Power Systems, Inc. | | 709 | | 655,470 |
NVIDIA Corp. | | 342,504 | | 41,593,686 |
QUALCOMM, Inc. | | 30,620 | | 5,206,931 |
Texas Instruments, Inc. | | 2,816 | | 581,701 |
| | | | 70,961,039 |
Software - 10.7% | | | | |
Adobe, Inc. * | | 8,616 | | 4,461,193 |
Atlassian Corp., Class A * | | 678 | | 107,673 |
Autodesk, Inc. * | | 3,486 | | 960,323 |
Crowdstrike Holdings, Inc., Class A * | | 5,181 | | 1,453,115 |
Datadog, Inc., Class A * | | 6,671 | | 767,565 |
Dropbox, Inc., Class A * | | 15,564 | | 395,793 |
Fortinet, Inc. * | | 29,067 | | 2,254,146 |
HubSpot, Inc. * | | 829 | | 440,696 |
Intuit, Inc. | | 2,879 | | 1,787,859 |
Global Atlantic BlackRock Disciplined Core Portfolio
Portfolio of Investments (Unaudited) (Continued)
September 30, 2024
| | Shares/ Principal | | Fair Value |
| | | | |
Software (continued) | | | | |
Manhattan Associates, Inc. * | | 3,297 | | $927,710 |
Microsoft Corp. | | 113,642 | | 48,900,153 |
Oracle Corp. | | 14,646 | | 2,495,678 |
Palo Alto Networks, Inc. * | | 3,263 | | 1,115,293 |
Salesforce, Inc. | | 1,445 | | 395,511 |
ServiceNow, Inc. * | | 2,936 | | 2,625,929 |
| | | | 69,088,637 |
Specialized REITs - 0.3% | | | | |
Equinix, Inc. | | 1,312 | | 1,164,571 |
Lamar Advertising Co., Class A | | 2,930 | | 391,448 |
VICI Properties, Inc. | | 4,085 | | 136,071 |
| | | | 1,692,090 |
Specialty Retail - 1.3% | | | | |
AutoNation, Inc. * | | 1,389 | | 248,520 |
Best Buy Co., Inc. | | 6,521 | | 673,619 |
Burlington Stores, Inc. * | | 242 | | 63,762 |
Carvana Co. * | | 464 | | 80,787 |
Dick's Sporting Goods, Inc. | | 1,723 | | 359,590 |
Lowe's Cos., Inc. | | 4,346 | | 1,177,114 |
Penske Automotive Group, Inc. | | 2,223 | | 361,060 |
Ross Stores, Inc. | | 15,885 | | 2,390,852 |
TJX Cos., Inc. (The) | | 20,632 | | 2,425,085 |
Tractor Supply Co. | | 2,234 | | 649,938 |
| | | | 8,430,327 |
Technology Hardware, Storage & Peripherals - 8.0% | | | | |
Apple, Inc. | | 219,336 | | 51,105,288 |
Dell Technologies, Inc., Class C | | 5,951 | | 705,431 |
Hewlett Packard Enterprise Co. | | 5,095 | | 104,244 |
| | | | 51,914,963 |
Textiles, Apparel & Luxury Goods - 0.6% | | | | |
Deckers Outdoor Corp. * | | 6,270 | | 999,752 |
Lululemon Athletica, Inc. * | | 605 | | 164,167 |
NIKE, Inc., Class B | | 22,026 | | 1,947,098 |
Ralph Lauren Corp. | | 2,977 | | 577,151 |
Skechers USA, Inc., Class A * | | 2,350 | | 157,262 |
| | | | 3,845,430 |
Tobacco - 0.7% | | | | |
Altria Group, Inc. | | 67,791 | | 3,460,053 |
Philip Morris International, Inc. | | 10,087 | | 1,224,562 |
| | | | 4,684,615 |
Trading Companies & Distributors - 0.5% | | | | |
Ferguson Enterprises, Inc. | | 7,755 | | 1,539,910 |
WW Grainger, Inc. | | 1,734 | | 1,801,297 |
| | | | 3,341,207 |
Total Common Stocks | | | | |
(Cost - $405,802,000) | | | | 637,536,958 |
| | Shares/ Principal | | Fair Value |
Short-Term Investments - 1.4% | | | | |
Money Market Funds - 1.4% | | | | |
Fidelity Investments Money Market Fund - Government Portfolio, Institutional Class, 4.83%(a) (Cost - $9,179,243) | | 9,179,243 | | $9,179,243 |
| | | | |
Total Short-Term Investments (Cost - $9,179,243) | | | | 9,179,243 |
Total Investments - 99.9% | | | | |
(Cost - $414,981,243) | | | | $646,716,201 |
Other Assets Less Liabilities - Net 0.1% | | | | 562,277 |
Total Net Assets - 100.0% | | | | $647,278,478 |
|
Global Atlantic BlackRock Disciplined Core Portfolio
Portfolio of Investments (Unaudited) (Continued)
September 30, 2024
* | 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 |
REIT | - | Real Estate Investment Trust |
Global Atlantic BlackRock Disciplined Core Portfolio
Portfolio of Investments (Unaudited) (Continued)
September 30, 2024
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. | | 36 | | 12/20/2024 | | $10,465,650 | | $195,028 | |
| |