Global Atlantic Goldman Sachs Core Fixed Income Portfolio
Portfolio of Investments (Unaudited)
September 30, 2023
| Shares/ Principal | Fair Value | |||
| Corporate Bonds and Notes - 43.0% | ||||
| Aerospace & Defense - 1.2% | ||||
| Boeing Co. (The) | ||||
| 2.60%, 10/30/25 | $150,000 | $140,167 | ||
| 3.45%, 11/1/28 | 100,000 | 90,188 | ||
| L3Harris Technologies, Inc., 5.60%, 7/31/53 | $25,000 | 23,367 | ||
| Lockheed Martin Corp., 5.25%, 1/15/33 | 100,000 | 98,806 | ||
| Northrop Grumman Corp., 4.75%, 6/1/43 | 50,000 | 42,937 | ||
| RTX Corp. | ||||
| 3.95%, 8/16/25 | 275,000 | 266,105 | ||
| 4.05%, 5/4/47 | 50,000 | 37,146 | ||
| 698,716 | ||||
| Agriculture - 0.5% | ||||
| BAT Capital Corp. | ||||
| 2.26%, 3/25/28 | 75,000 | 63,420 | ||
| 4.76%, 9/6/49 | 25,000 | 17,708 | ||
| Cargill, Inc., 4.75%, 4/24/33(a) | 125,000 | 117,949 | ||
| Philip Morris International, Inc. | ||||
| 5.63%, 11/17/29 | 25,000 | 24,740 | ||
| 5.75%, 11/17/32 | 50,000 | 48,796 | ||
| 272,613 | ||||
| Auto Manufacturers - 0.6% | ||||
| General Motors Co., 4.00%, 4/1/25 | 50,000 | 48,405 | ||
| General Motors Financial Co., Inc. | ||||
| 4.30%, 7/13/25 | 125,000 | 120,671 | ||
| 1.50%, 6/10/26 | 125,000 | 110,473 | ||
| 2.35%, 1/8/31 | 125,000 | 94,573 | ||
| 374,122 | ||||
| Banks - 11.7% | ||||
| Banco Santander SA, 2.75%, 5/28/25 | 200,000 | 188,360 | ||
| Bank of America Corp. | ||||
| 5.08%, (SOFR + 1.29%), 1/20/27(b) | 210,000 | 205,288 | ||
| 4.18%, 11/25/27 | 25,000 | 23,242 | ||
| 3.42%, (3 Month Term SOFR + 1.30%), 12/20/28(b) | 108,000 | 97,214 | ||
| 5.20%, (SOFR + 1.63%), 4/25/29(b) | 190,000 | 183,225 | ||
| 4.27%, (3 Month Term SOFR + 1.57%), 7/23/29(b) | 125,000 | 115,266 | ||
| 2.50%, (3 Month Term SOFR + 1.25%), 2/13/31(b) | 25,000 | 20,041 | ||
| 2.59%, (SOFR + 2.15%), 4/29/31(b) | 75,000 | 60,327 | ||
| 1.90%, (SOFR + 1.53%), 7/23/31(b) | 100,000 | 76,000 | ||
| 2.65%, (SOFR + 1.22%), 3/11/32(b) | 100,000 | 78,723 | ||
| 2.97%, (SOFR + 1.33%), 2/4/33(b) | 50,000 | 39,441 | ||
| 4.57%, (SOFR + 1.83%), 4/27/33(b) | 50,000 | 44,402 | ||
| 2.48%, (US 5 Year CMT T-Note + 1.20%), 9/21/36(b) | 75,000 | 54,590 | ||
| 6.11%, 1/29/37 | 100,000 | 98,681 |
| Shares/ Principal | Fair Value | |||
| Banks (continued) | ||||
| Bank of New York Mellon Corp. (The) | ||||
| 4.60%, (SOFR + 1.76%), 7/26/30(b) | $15,000 | $14,121 | ||
| 5.83%, (SOFRINDX + 2.07%), 10/25/33(b) | 25,000 | 24,577 | ||
| Barclays PLC, 2.85%, (SOFR + 2.71%), 5/7/26(b) | 200,000 | 188,682 | ||
| BNP Paribas SA | ||||
| 3.38%, 1/9/25(a) | 252,000 | 243,208 | ||
| 1.32%, (SOFR + 1.00%), 1/13/27(a),(b) | 225,000 | 201,510 | ||
| Citigroup, Inc. | ||||
| 4.60%, 3/9/26 | 75,000 | 72,416 | ||
| 3.40%, 5/1/26 | 200,000 | 187,903 | ||
| 4.45%, 9/29/27 | 125,000 | 117,430 | ||
| 3.67%, (3 Month Term SOFR + 1.65%), 7/24/28(b) | 50,000 | 45,871 | ||
| 2.98%, (SOFR + 1.42%), 11/5/30(b) | 100,000 | 83,745 | ||
| 3.06%, (SOFR + 1.35%), 1/25/33(b) | 50,000 | 39,537 | ||
| Comerica Bank, 2.50%, 7/23/24 | 300,000 | 287,108 | ||
| Fifth Third Bancorp, 2.38%, 1/28/25 | 85,000 | 80,709 | ||
| HSBC Holdings PLC, 1.65%, (SOFR + 1.54%), 4/18/26(b) | 225,000 | 209,149 | ||
| Huntington Bancshares, Inc., 4.00%, 5/15/25 | 150,000 | 143,599 | ||
| ING Groep NV, 4.63%, 1/6/26(a) | 225,000 | 218,082 | ||
| JPMorgan Chase & Co. | ||||
| 4.02%, (3 Month Term SOFR + 1.26%), 12/5/24(b) | 125,000 | 124,446 | ||
| 2.30%, (SOFR + 1.16%), 10/15/25(b) | 150,000 | 143,876 | ||
| 3.30%, 4/1/26 | 225,000 | 212,522 | ||
| 3.96%, (3 Month Term SOFR + 1.51%), 1/29/27(b) | 175,000 | 167,291 | ||
| 3.51%, (3 Month Term SOFR + 1.21%), 1/23/29(b) | 125,000 | 113,398 | ||
| 2.96%, (3 Month Term SOFR + 2.52%), 5/13/31(b) | 25,000 | 20,545 | ||
| 2.96%, (SOFR + 1.26%), 1/25/33(b) | 150,000 | 119,469 | ||
| 4.59%, (SOFR + 1.80%), 4/26/33(b) | 21,000 | 18,918 | ||
| M&T Bank Corp., 5.05%, (SOFR + 1.85%), 1/27/34(b) | 90,000 | 77,841 | ||
| Macquarie Group Ltd., 1.34%, (SOFR + 1.07%), 1/12/27(a),(b) | 75,000 | 67,105 | ||
| Morgan Stanley | ||||
| 2.72%, (SOFR + 1.15%), 7/22/25(b) | 75,000 | 72,788 | ||
| 3.63%, 1/20/27 | 200,000 | 186,715 | ||
| 5.05%, (SOFR + 1.30%), 1/28/27(b) | 263,000 | 257,829 | ||
| 3.95%, 4/23/27 | 30,000 | 27,879 | ||
| 5.16%, (SOFR + 1.59%), 4/20/29(b) | 155,000 | 149,282 |
Global Atlantic Goldman Sachs Core Fixed Income Portfolio
Portfolio of Investments (Unaudited) (Continued)
September 30, 2023
| Shares/ Principal | Fair Value | |||
| Banks (continued) | ||||
| 4.43%, (3 Month Term SOFR + 1.89%), 1/23/30(b) | $50,000 | $46,278 | ||
| 2.70%, (SOFR + 1.14%), 1/22/31(b) | 75,000 | 61,337 | ||
| 1.79%, (SOFR + 1.03%), 2/13/32(b) | 125,000 | 92,615 | ||
| 2.48%, (SOFR + 1.36%), 9/16/36(b) | 125,000 | 90,812 | ||
| Toronto-Dominion Bank (The), 4.46%, 6/8/32 | 125,000 | 112,131 | ||
| Truist Financial Corp., 6.05%, (SOFR + 2.05%), 6/8/27(b) | 25,000 | 24,732 | ||
| UBS Group AG, 4.55%, 4/17/26 | 255,000 | 244,949 | ||
| US Bancorp | ||||
| 5.78%, (SOFR + 2.02%), 6/12/29(b) | 70,000 | 68,210 | ||
| 5.85%, 10/21/33 | 50,000 | 47,347 | ||
| Wells Fargo & Co. | ||||
| 3.75%, 1/24/24 | 55,000 | 54,602 | ||
| 3.55%, 9/29/25 | 125,000 | 119,492 | ||
| 3.00%, 10/23/26 | 325,000 | 298,388 | ||
| 4.30%, 7/22/27 | 100,000 | 94,322 | ||
| 4.15%, 1/24/29 | 25,000 | 22,990 | ||
| 4.90%, (SOFR + 2.10%), 7/25/33(b) | 111,000 | 100,474 | ||
| Westpac Banking Corp., 4.11%, (US 5 Year CMT T-Note + 2.00%), 7/24/34(b) | 75,000 | 64,785 | ||
| 6,745,815 | ||||
| Beverages - 1.3% | ||||
| Anheuser-Busch Cos., LLC / Anheuser-Busch InBev Worldwide, Inc. | ||||
| 4.70%, 2/1/36 | 300,000 | 275,045 | ||
| 4.90%, 2/1/46 | 108,000 | 95,159 | ||
| Anheuser-Busch InBev Worldwide, Inc., 8.20%, 1/15/39 | 25,000 | 30,545 | ||
| Constellation Brands, Inc. | ||||
| 3.60%, 2/15/28 | 100,000 | 91,998 | ||
| 3.15%, 8/1/29 | 125,000 | 109,540 | ||
| 2.25%, 8/1/31 | 50,000 | 39,020 | ||
| 4.75%, 5/9/32 | 39,000 | 36,144 | ||
| Keurig Dr Pepper, Inc. | ||||
| 3.80%, 5/1/50 | 25,000 | 17,744 | ||
| 4.50%, 4/15/52 | 75,000 | 59,137 | ||
| 754,332 | ||||
| Biotechnology - 0.8% | ||||
| Amgen, Inc. | ||||
| 3.13%, 5/1/25 | 175,000 | 168,089 | ||
| 5.25%, 3/2/30 | 130,000 | 127,025 | ||
| 4.20%, 3/1/33 | 75,000 | 66,699 | ||
| 5.25%, 3/2/33 | 108,000 | 103,262 | ||
| 465,075 | ||||
| Building Materials - 0.1% | ||||
| Carrier Global Corp., 2.72%, 2/15/30 | 75,000 | 62,574 |
| Shares/ Principal | Fair Value | |||
| Building Materials (continued) | ||||
| Johnson Controls International PLC / Tyco Fire & Security Finance SCA, 4.90%, 12/1/32 | $25,000 | $23,865 | ||
| 86,439 | ||||
| Chemicals - 0.1% | ||||
| International Flavors & Fragrances, Inc., 1.83%, 10/15/27(a) | 100,000 | 83,068 | ||
| Commercial Services - 0.8% | ||||
| Emory University, 2.14%, 9/1/30 | 160,000 | 130,486 | ||
| Global Payments, Inc., 2.65%, 2/15/25 | 75,000 | 71,462 | ||
| PayPal Holdings, Inc., 1.65%, 6/1/25 | 225,000 | 210,555 | ||
| S&P Global, Inc., 2.95%, 1/22/27 | 50,000 | 46,322 | ||
| 458,825 | ||||
| Computers - 0.8% | ||||
| Apple, Inc., 3.25%, 2/23/26 | 175,000 | 167,242 | ||
| Dell International LLC / EMC Corp. | ||||
| 5.85%, 7/15/25 | 18,000 | 17,978 | ||
| 5.30%, 10/1/29 | 25,000 | 24,253 | ||
| Hewlett Packard Enterprise Co., 4.45%, 10/2/23 | 225,000 | 225,000 | ||
| 434,473 | ||||
| Cosmetics/Personal Care - 0.1% | ||||
| Colgate-Palmolive Co., 3.25%, 8/15/32 | 75,000 | 65,489 | ||
| Diversified Financial Services - 3.1% | ||||
| AerCap Ireland Capital DAC / AerCap Global Aviation Trust | ||||
| 4.88%, 1/16/24 | 175,000 | 174,300 | ||
| 2.45%, 10/29/26 | 225,000 | 201,586 | ||
| Air Lease Corp. | ||||
| 2.30%, 2/1/25 | 175,000 | 165,776 | ||
| 3.38%, 7/1/25 | 100,000 | 95,007 | ||
| 2.88%, 1/15/26 | 75,000 | 69,843 | ||
| 3.75%, 6/1/26 | 175,000 | 164,980 | ||
| Ally Financial, Inc., 2.20%, 11/2/28 | 100,000 | 79,026 | ||
| American Express Co. | ||||
| 2.50%, 7/30/24 | 35,000 | 34,039 | ||
| 3.63%, 12/5/24 | 175,000 | 170,329 | ||
| Aviation Capital Group LLC, 1.95%, 1/30/26(a) | 75,000 | 67,436 | ||
| Avolon Holdings Funding Ltd. | ||||
| 3.95%, 7/1/24(a) | 75,000 | 73,410 | ||
| 2.88%, 2/15/25(a) | 150,000 | 141,623 | ||
| 4.25%, 4/15/26(a) | 25,000 | 23,502 | ||
| Capital One Financial Corp., 3.30%, 10/30/24 | 65,000 | 62,927 | ||
| Charles Schwab Corp. (The), 3.45%, 2/13/26 | 128,000 | 121,115 | ||
| Intercontinental Exchange, Inc., 3.00%, 6/15/50 | 50,000 | 30,813 | ||
| Nasdaq, Inc., 3.25%, 4/28/50 | 25,000 | 15,602 |
Global Atlantic Goldman Sachs Core Fixed Income Portfolio
Portfolio of Investments (Unaudited) (Continued)
September 30, 2023
| Shares/ Principal | Fair Value | |||
| Diversified Financial Services (continued) | ||||
| Visa, Inc., 3.15%, 12/14/25 | $100,000 | $95,544 | ||
| 1,786,858 | ||||
| Electric - 2.4% | ||||
| Ameren Corp., 3.50%, 1/15/31 | 25,000 | 21,465 | ||
| American Electric Power Co., Inc., 2.30%, 3/1/30 | 50,000 | 40,183 | ||
| Avangrid, Inc., 3.20%, 4/15/25 | 50,000 | 47,803 | ||
| Berkshire Hathaway Energy Co., 6.13%, 4/1/36 | 74,000 | 74,372 | ||
| Dominion Energy, Inc. | ||||
| 3.07%, 8/15/24(c) | 175,000 | 170,361 | ||
| 3.38%, 4/1/30 | 50,000 | 43,022 | ||
| Duke Energy Carolinas LLC, 3.95%, 3/15/48 | 25,000 | 18,361 | ||
| Duquesne Light Holdings, Inc., 2.53%, 10/1/30(a) | 100,000 | 77,784 | ||
| Entergy Corp., 2.95%, 9/1/26 | 175,000 | 161,779 | ||
| Exelon Corp., 4.05%, 4/15/30 | 50,000 | 45,010 | ||
| FirstEnergy Corp. | ||||
| 2.65%, 3/1/30 | 150,000 | 122,250 | ||
| 2.25%, 9/1/30 | 50,000 | 38,848 | ||
| NextEra Energy Capital Holdings, Inc., 1.90%, 6/15/28 | 80,000 | 67,700 | ||
| NRG Energy, Inc., 3.75%, 6/15/24(a) | 150,000 | 146,882 | ||
| Pacific Gas and Electric Co. | ||||
| 2.10%, 8/1/27 | 25,000 | 21,381 | ||
| 2.50%, 2/1/31 | 50,000 | 38,048 | ||
| 3.30%, 8/1/40 | 25,000 | 16,000 | ||
| 3.50%, 8/1/50 | 50,000 | 29,762 | ||
| Sempra, 3.40%, 2/1/28 | 125,000 | 113,787 | ||
| Southern California Edison Co., 4.20%, 3/1/29 | 100,000 | 93,096 | ||
| 1,387,894 | ||||
| Engineering & Construction - 0.3% | ||||
| Mexico City Airport Trust, 3.88%, 4/30/28(a) | 200,000 | 180,887 | ||
| Entertainment - 0.5% | ||||
| Warnermedia Holdings, Inc. | ||||
| 4.05%, 3/15/29 | 200,000 | 178,596 | ||
| 4.28%, 3/15/32 | 125,000 | 106,119 | ||
| 284,715 | ||||
| Environmental Control - 0.6% | ||||
| Republic Services, Inc. | ||||
| 2.50%, 8/15/24 | 150,000 | 145,685 | ||
| 4.88%, 4/1/29 | 50,000 | 48,598 | ||
| Veralto Corp., 5.45%, 9/18/33(a) | 75,000 | 72,622 | ||
| Waste Connections, Inc., 4.20%, 1/15/33 | 42,000 | 37,519 |
| Shares/ Principal | Fair Value | |||
| Environmental Control (continued) | ||||
| Waste Management, Inc., 4.15%, 4/15/32 | $50,000 | $45,525 | ||
| 349,949 | ||||
| Food - 0.2% | ||||
| Mars, Inc., 2.70%, 4/1/25(a) | 50,000 | 47,913 | ||
| Sysco Corp. | ||||
| 4.45%, 3/15/48 | 25,000 | 19,382 | ||
| 6.60%, 4/1/50 | 25,000 | 25,960 | ||
| 93,255 | ||||
| Gas - 0.0%† | ||||
| NiSource, Inc., 3.60%, 5/1/30 | 25,000 | 21,789 | ||
| Healthcare-Products - 0.4% | ||||
| DH Europe Finance II SARL, 2.20%, 11/15/24 | 125,000 | 120,175 | ||
| STERIS Irish FinCo UnLtd Co., 2.70%, 3/15/31 | 75,000 | 60,839 | ||
| Thermo Fisher Scientific, Inc., 1.75%, 10/15/28 | 25,000 | 21,160 | ||
| 202,174 | ||||
| Healthcare-Services - 1.8% | ||||
| Adventist Health System, 2.95%, 3/1/29 | 25,000 | 21,622 | ||
| Banner Health, 2.34%, 1/1/30 | 145,000 | 119,948 | ||
| Baylor Scott & White Holdings, 1.78%, 11/15/30 | 50,000 | 38,835 | ||
| CommonSpirit Health | ||||
| 3.91%, 10/1/50 | 110,000 | 77,938 | ||
| 6.46%, 11/1/52 | 105,000 | 109,279 | ||
| Humana, Inc., 5.50%, 3/15/53 | 8,000 | 7,263 | ||
| Rush Obligated Group, 3.92%, 11/15/29 | 60,000 | 54,988 | ||
| Stanford Health Care, 3.31%, 8/15/30 | 35,000 | 30,624 | ||
| Sutter Health | ||||
| 2.29%, 8/15/30 | 25,000 | 20,174 | ||
| 4.09%, 8/15/48 | 225,000 | 168,646 | ||
| UnitedHealth Group, Inc. | ||||
| 5.30%, 2/15/30 | 175,000 | 173,993 | ||
| 5.35%, 2/15/33 | 125,000 | 123,698 | ||
| 5.88%, 2/15/53 | 50,000 | 50,128 | ||
| 5.05%, 4/15/53 | 75,000 | 67,039 | ||
| 1,064,175 | ||||
| Home Builders - 0.1% | ||||
| Lennar Corp., 4.75%, 11/29/27 | 45,000 | 43,352 | ||
| Insurance - 0.7% | ||||
| AIA Group Ltd., 3.20%, 3/11/25(a) | 200,000 | 193,203 | ||
| New York Life Insurance Co., 3.75%, 5/15/50(a) | 50,000 | 34,481 | ||
| Principal Financial Group, Inc. | ||||
| 3.10%, 11/15/26 | 75,000 | 69,427 | ||
| 2.13%, 6/15/30 | 100,000 | 79,538 |
Global Atlantic Goldman Sachs Core Fixed Income Portfolio
Portfolio of Investments (Unaudited) (Continued)
September 30, 2023
| Shares/ Principal | Fair Value | |||
| Insurance (continued) | ||||
| Willis North America, Inc., 2.95%, 9/15/29 | $50,000 | $42,626 | ||
| 419,275 | ||||
| Internet - 0.2% | ||||
| Amazon.com, Inc., 3.10%, 5/12/51 | 50,000 | 32,959 | ||
| Expedia Group, Inc., 2.95%, 3/15/31 | 14,000 | 11,282 | ||
| Meta Platforms, Inc., 3.85%, 8/15/32 | 66,000 | 58,580 | ||
| 102,821 | ||||
| Iron & Steel - 0.0%† | ||||
| Steel Dynamics, Inc., 2.40%, 6/15/25 | 30,000 | 28,190 | ||
| Lodging - 0.2% | ||||
| Marriott International, Inc. | ||||
| 4.90%, 4/15/29 | 50,000 | 47,682 | ||
| 2.85%, 4/15/31 | 100,000 | 80,630 | ||
| 128,312 | ||||
| Machinery-Diversified - 0.1% | ||||
| Ingersoll Rand, Inc., 5.70%, 8/14/33 | 45,000 | 43,546 | ||
| Media - 0.7% | ||||
| Comcast Corp. | ||||
| 3.95%, 10/15/25 | 125,000 | 121,289 | ||
| 3.75%, 4/1/40 | 25,000 | 19,355 | ||
| Fox Corp., 4.03%, 1/25/24 | 75,000 | 74,466 | ||
| Walt Disney Co. (The), 3.70%, 9/15/24 | 200,000 | 196,176 | ||
| 411,286 | ||||
| Mining - 0.7% | ||||
| Glencore Funding LLC, 4.63%, 4/29/24(a) | 250,000 | 247,543 | ||
| Newcrest Finance Pty Ltd., 3.25%, 5/13/30(a) | 25,000 | 21,262 | ||
| Newmont Corp., 2.25%, 10/1/30 | 150,000 | 119,456 | ||
| 388,261 | ||||
| Miscellaneous Manufacturing - 0.2% | ||||
| Eaton Corp., 4.15%, 3/15/33 | 75,000 | 67,819 | ||
| General Electric Co., 6.75%, 3/15/32 | 50,000 | 54,218 | ||
| 122,037 | ||||
| Oil & Gas - 0.5% | ||||
| BP Capital Markets America, Inc., 3.41%, 2/11/26 | 50,000 | 47,793 | ||
| Marathon Petroleum Corp. | ||||
| 3.63%, 9/15/24 | 50,000 | 48,878 | ||
| 3.80%, 4/1/28 | 25,000 | 22,987 | ||
| Phillips 66 | ||||
| 3.85%, 4/9/25 | 25,000 | 24,317 | ||
| 3.90%, 3/15/28 | 150,000 | 140,324 | ||
| 284,299 | ||||
| Pharmaceuticals - 1.0% | ||||
| AbbVie, Inc. | ||||
| 4.05%, 11/21/39 | 125,000 | 102,219 | ||
| 4.88%, 11/14/48 | 25,000 | 21,828 |
| Shares/ Principal | Fair Value | |||
| Pharmaceuticals (continued) | ||||
| Bristol-Myers Squibb Co., 2.95%, 3/15/32 | $50,000 | $41,756 | ||
| Cigna Group (The), 4.80%, 8/15/38 | 75,000 | 66,061 | ||
| CVS Health Corp. | ||||
| 2.63%, 8/15/24 | 30,000 | 29,164 | ||
| 4.78%, 3/25/38 | 200,000 | 172,238 | ||
| Pfizer Investment Enterprises Pte Ltd., 4.75%, 5/19/33 | 150,000 | 142,107 | ||
| 575,373 | ||||
| Pipelines - 2.2% | ||||
| Enbridge, Inc., 5.70%, 3/8/33 | 55,000 | 52,704 | ||
| Energy Transfer LP | ||||
| 2.90%, 5/15/25 | 100,000 | 95,009 | ||
| 5.25%, 4/15/29 | 100,000 | 95,926 | ||
| 5.30%, 4/15/47 | 25,000 | 20,290 | ||
| Galaxy Pipeline Assets Bidco Ltd., 2.94%, 9/30/40(d) | 186,624 | 143,638 | ||
| MPLX LP | ||||
| 4.80%, 2/15/29 | 50,000 | 47,439 | ||
| 2.65%, 8/15/30 | 125,000 | 100,966 | ||
| 4.50%, 4/15/38 | 75,000 | 60,808 | ||
| Sabine Pass Liquefaction LLC | ||||
| 5.63%, 3/1/25 | 275,000 | 273,284 | ||
| 5.00%, 3/15/27 | 100,000 | 97,025 | ||
| Targa Resources Corp., 4.20%, 2/1/33 | 40,000 | 34,023 | ||
| Williams Cos., Inc. (The) | ||||
| 4.00%, 9/15/25 | 175,000 | 168,626 | ||
| 5.65%, 3/15/33 | 75,000 | 72,491 | ||
| 1,262,229 | ||||
| REITS - 2.6% | ||||
| Agree LP, 4.80%, 10/1/32 | 110,000 | 97,492 | ||
| American Homes 4 Rent LP | ||||
| 4.90%, 2/15/29 | 50,000 | 47,206 | ||
| 2.38%, 7/15/31 | 30,000 | 22,884 | ||
| American Tower Corp. | ||||
| 3.38%, 5/15/24 | 200,000 | 196,791 | ||
| 2.40%, 3/15/25 | 125,000 | 118,521 | ||
| Camden Property Trust, 2.80%, 5/15/30 | 75,000 | 63,539 | ||
| Crown Castle, Inc., 3.65%, 9/1/27 | 75,000 | 68,857 | ||
| CubeSmart LP, 2.50%, 2/15/32 | 50,000 | 38,132 | ||
| Essex Portfolio LP, 3.00%, 1/15/30 | 75,000 | 62,333 | ||
| Host Hotels & Resorts LP, 2.90%, 12/15/31 | 42,000 | 32,291 | ||
| Invitation Homes Operating Partnership LP, 2.30%, 11/15/28 | 50,000 | 41,845 | ||
| Kilroy Realty LP, 4.75%, 12/15/28 | 79,000 | 71,726 | ||
| NNN REIT, Inc., 3.90%, 6/15/24 | 45,000 | 44,307 | ||
| Prologis LP, 4.63%, 1/15/33 | 75,000 | 69,419 | ||
| Realty Income Corp., 4.88%, 6/1/26 | 75,000 | 73,610 |
Global Atlantic Goldman Sachs Core Fixed Income Portfolio
Portfolio of Investments (Unaudited) (Continued)
September 30, 2023
| Shares/ Principal | Fair Value | |||
| REITS (continued) | ||||
| Regency Centers LP, 2.95%, 9/15/29 | $125,000 | $106,413 | ||
| Retail Opportunity Investments Partnership LP, 6.75%, 10/15/28 | 100,000 | 98,719 | ||
| Spirit Realty LP, 3.40%, 1/15/30 | 100,000 | 83,746 | ||
| UDR, Inc., 2.10%, 8/1/32 | 25,000 | 18,033 | ||
| WP Carey, Inc. | ||||
| 4.60%, 4/1/24 | 25,000 | 24,750 | ||
| 4.00%, 2/1/25 | 30,000 | 29,174 | ||
| 3.85%, 7/15/29 | 75,000 | 66,311 | ||
| 2.40%, 2/1/31 | 25,000 | 19,369 | ||
| 1,495,468 | ||||
| Retail - 1.6% | ||||
| 7-Eleven, Inc., 1.30%, 2/10/28(a) | 100,000 | 83,587 | ||
| Alimentation Couche-Tard, Inc., 3.55%, 7/26/27(a) | 50,000 | 46,266 | ||
| AutoNation, Inc., 1.95%, 8/1/28 | 25,000 | 20,367 | ||
| Dollar Tree, Inc., 4.00%, 5/15/25 | 75,000 | 72,598 | ||
| Home Depot, Inc. (The), 3.25%, 4/15/32 | 25,000 | 21,481 | ||
| Lowe’s Cos., Inc. | ||||
| 1.70%, 9/15/28 | 75,000 | 62,628 | ||
| 3.75%, 4/1/32 | 225,000 | 194,885 | ||
| 5.00%, 4/15/33 | 75,000 | 70,611 | ||
| 4.25%, 4/1/52 | 50,000 | 37,100 | ||
| McDonald’s Corp. | ||||
| 4.60%, 9/9/32 | 59,000 | 55,522 | ||
| 4.45%, 9/1/48 | 25,000 | 20,455 | ||
| Starbucks Corp. | ||||
| 3.80%, 8/15/25 | 150,000 | 145,231 | ||
| 4.00%, 11/15/28 | 75,000 | 70,525 | ||
| 3.00%, 2/14/32 | 51,000 | 42,211 | ||
| 943,467 | ||||
| Semiconductors - 1.1% | ||||
| Broadcom, Inc. | ||||
| 4.15%, 4/15/32(a) | 53,000 | 46,021 | ||
| 3.42%, 4/15/33(a) | 150,000 | 120,024 | ||
| 3.47%, 4/15/34(a) | 165,000 | 129,632 | ||
| Intel Corp., 5.20%, 2/10/33 | 100,000 | 96,897 | ||
| Micron Technology, Inc., 2.70%, 4/15/32 | 50,000 | 38,191 | ||
| NXP BV / NXP Funding LLC / NXP USA, Inc. | ||||
| 3.40%, 5/1/30 | 50,000 | 42,766 | ||
| 2.50%, 5/11/31 | 125,000 | 97,621 | ||
| 2.65%, 2/15/32 | 75,000 | 57,970 | ||
| 629,122 | ||||
| Software - 1.6% | ||||
| Fiserv, Inc. | ||||
| 2.75%, 7/1/24 | 150,000 | 146,388 | ||
| 4.20%, 10/1/28 | 100,000 | 93,781 |
| Shares/ Principal | Fair Value | |||
| Software (continued) | ||||
| Oracle Corp. | ||||
| 4.50%, 5/6/28 | $75,000 | $71,484 | ||
| 2.95%, 4/1/30 | 25,000 | 21,042 | ||
| 4.65%, 5/6/30 | 100,000 | 93,483 | ||
| 2.88%, 3/25/31 | 225,000 | 183,958 | ||
| 4.90%, 2/6/33 | 91,000 | 83,967 | ||
| 3.60%, 4/1/40 | 25,000 | 18,059 | ||
| 6.90%, 11/9/52 | 100,000 | 103,081 | ||
| VMware, Inc. | ||||
| 1.80%, 8/15/28 | 25,000 | 20,750 | ||
| 2.20%, 8/15/31 | 75,000 | 56,620 | ||
| Workday, Inc., 3.80%, 4/1/32 | 25,000 | 21,441 | ||
| 914,054 | ||||
| Telecommunications - 1.8% | ||||
| AT&T, Inc. | ||||
| 2.55%, 12/1/33 | 175,000 | 128,563 | ||
| 4.90%, 8/15/37 | 50,000 | 43,567 | ||
| 4.85%, 3/1/39 | 85,000 | 71,887 | ||
| 3.50%, 6/1/41 | 100,000 | 69,422 | ||
| 3.65%, 6/1/51 | 25,000 | 16,102 | ||
| T-Mobile USA, Inc. | ||||
| 3.50%, 4/15/25 | 82,000 | 79,130 | ||
| 3.88%, 4/15/30 | 167,000 | 148,044 | ||
| 5.20%, 1/15/33 | 150,000 | 141,621 | ||
| Verizon Communications, Inc. | ||||
| 4.33%, 9/21/28 | 232,000 | 217,952 | ||
| 4.02%, 12/3/29 | 25,000 | 22,677 | ||
| 2.55%, 3/21/31 | 100,000 | 79,628 | ||
| 1,018,593 | ||||
| Transportation - 0.4% | ||||
| Burlington Northern Santa Fe LLC, 3.25%, 6/15/27 | 75,000 | 70,371 | ||
| CSX Corp., 4.10%, 11/15/32 | 75,000 | 67,470 | ||
| FedEx Corp., 3.40%, 2/15/28 | 25,000 | 23,010 | ||
| Union Pacific Corp., 2.80%, 2/14/32 | 100,000 | 82,527 | ||
| 243,378 | ||||
| Total Corporate Bonds and Notes | ||||
| (Cost - $27,414,857) | 24,863,726 | |||
| Agency Mortgage Backed Securities - 42.8% | ||||
| Federal Home Loan Mortgage Corporation - 4.1% | ||||
| Freddie Mac Pool | ||||
| 4.00%, 1/1/49 | 263,069 | 241,742 | ||
| 4.00%, 3/1/50 | 417,717 | 378,655 | ||
| 3.00%, 12/1/50 | 626,546 | 527,540 | ||
| 2.50%, 9/1/51 | 855,711 | 687,101 | ||
| 4.50%, 6/1/52 | 560,547 | 518,187 | ||
| 2,353,225 |
Global Atlantic Goldman Sachs Core Fixed Income Portfolio
Portfolio of Investments (Unaudited) (Continued)
September 30, 2023
| Shares/ Principal | Fair Value | |||
| Federal National Mortgage Association - 23.4% | ||||
| Fannie Mae Pool | ||||
| 4.50%, 6/1/31 | $237,355 | $224,724 | ||
| 4.00%, 8/1/45 | 732,643 | 669,847 | ||
| 4.00%, 1/1/46 | 421,390 | 380,957 | ||
| 4.50%, 7/1/48 | 323,135 | 301,940 | ||
| 5.00%, 11/1/48 | 235,182 | 229,119 | ||
| 2.00%, 11/1/50 | 967,245 | 738,766 | ||
| 2.50%, 11/1/50 | 992,171 | 799,601 | ||
| 2.50%, 3/1/51 | 76,152 | 61,471 | ||
| 2.50%, 9/1/51 | 95,102 | 76,271 | ||
| 2.50%, 10/1/51 | 378,359 | 305,560 | ||
| 2.50%, 11/1/51 | 223,005 | 180,063 | ||
| 2.50%, 11/1/51 | 172,907 | 139,355 | ||
| 2.50%, 2/1/52 | 776,948 | 616,657 | ||
| 2.50%, 2/1/52 | 211,778 | 168,273 | ||
| 5.00%, 11/1/52 | 971,547 | 917,139 | ||
| 5.50%, 11/1/52 | 940,593 | 918,170 | ||
| 6.00%, 12/1/52 | 926,049 | 927,522 | ||
| Federal National Mortgage Association | ||||
| 2.00%, 1/1/52 | 2,892,548 | 2,221,258 | ||
| 3.00%, 10/1/53(e) | 1,000,000 | 826,875 | ||
| 3.50%, 10/1/53(e) | 1,000,000 | 860,156 | ||
| 5.50%, 10/1/53(e) | 1,000,000 | 966,563 | ||
| 6.50%, 10/1/53(e) | 1,000,000 | 1,004,844 | ||
| 13,535,131 | ||||
| Government National Mortgage Association - 15.3% | ||||
| Ginnie Mae | ||||
| 2.00%, 8/20/51 | 429,005 | 343,304 | ||
| 2.00%, 10/20/53(e) | 1,000,000 | 789,375 | ||
| 2.50%, 10/20/53(e) | 1,000,000 | 817,344 | ||
| 5.00%, 10/20/53(e) | 1,000,000 | 947,656 | ||
| 6.50%, 10/20/53(e) | 1,000,000 | 1,006,094 | ||
| Ginnie Mae II Pool | ||||
| 3.50%, 4/20/47 | 182,309 | 162,609 | ||
| 3.50%, 12/20/47 | 225,343 | 200,894 | ||
| 4.50%, 2/20/48 | 117,742 | 110,570 | ||
| 4.50%, 5/20/48 | 117,506 | 110,503 | ||
| 4.50%, 8/20/48 | 149,385 | 140,479 | ||
| 5.00%, 8/20/48 | 30,651 | 29,520 | ||
| 4.50%, 9/20/48 | 522,722 | 491,548 | ||
| 5.00%, 10/20/48 | 179,900 | 173,993 | ||
| 5.00%, 11/20/48 | 111,077 | 107,435 | ||
| 5.00%, 12/20/48 | 58,330 | 56,417 | ||
| 5.00%, 1/20/49 | 170,492 | 164,087 | ||
| 4.00%, 2/20/49 | 153,078 | 140,465 | ||
| 4.50%, 3/20/49 | 5,045 | 4,744 | ||
| 5.00%, 3/20/49 | 82,348 | 78,366 | ||
| 4.00%, 5/20/49 | 137,010 | 125,309 |
| Shares/ Principal | Fair Value | |||
| Government National Mortgage Association (continued) | ||||
| 4.50%, 10/20/49 | $121,092 | $113,871 | ||
| 3.00%, 3/20/50 | 421,091 | 360,716 | ||
| 2.50%, 6/20/51 | 103,177 | 83,779 | ||
| 2.50%, 9/20/51 | 266,537 | 216,416 | ||
| 2.50%, 9/20/51 | 124,582 | 101,159 | ||
| 2.50%, 9/20/51 | 77,702 | 63,118 | ||
| 2.50%, 10/20/51 | 200,900 | 163,151 | ||
| 3.00%, 11/20/51 | 838,052 | 714,482 | ||
| 2.50%, 12/20/51 | 106,649 | 86,604 | ||
| 2.50%, 1/20/52 | 79,761 | 64,304 | ||
| 4.50%, 10/20/52 | 959,336 | 885,803 | ||
| 8,854,115 | ||||
| Total Agency Mortgage Backed Securities | ||||
| (Cost - $26,487,395) | 24,742,471 | |||
| Asset Backed and Commercial Backed Securities - 11.7% | ||||
| 3650R 2021-PF1 Commercial Mortgage Trust, 2.78%, 11/15/54 (f) | 150,000 | 110,641 | ||
| Arbor Realty Commercial Real Estate Notes 2022-FL1 Ltd., 6.76%, (SOFR + 1.45%), 1/15/37 (a),(b) | 200,000 | 197,750 | ||
| ASSURANT CLO LTD., 6.63%, (3 Month Term SOFR + 1.30%), 4/20/31 (a),(b) | 1,470,457 | 1,465,243 | ||
| Bank 2023-BNK46, 5.75%, 8/15/56 | 150,000 | 148,399 | ||
| Barclays Dryrock Issuance Trust, 4.72%, 2/15/29 | 300,000 | 296,251 | ||
| Benchmark 2018-B1 Mortgage Trust, 2.75%, 1/15/51 (a) | 100,000 | 61,717 | ||
| BX Trust 2021-ARIA, 7.09%, (1 Month Term SOFR + 1.76%), 10/15/36 (a),(b) | 150,000 | 144,530 | ||
| Capital One Multi-Asset Execution Trust, 4.95%, 10/15/27 | 200,000 | 197,832 | ||
| Cathedral Lake VIII Ltd., 8.22%, (3 Month Term SOFR + 2.88%), 1/20/35 (a),(b) | 150,000 | 145,257 | ||
| CBAM 2018-5 Ltd., 6.59%, (3 Month Term SOFR + 1.28%), 4/17/31 (a),(b) | 347,735 | 345,932 | ||
| Connecticut Avenue Securities Trust, 6.97%, (SOFR + 1.65%), 12/25/41 (a),(b) | 34,000 | 33,235 | ||
| Discover Card Execution Note Trust, 4.31%, 3/15/28 | 200,000 | 194,767 | ||
| DOLP Trust 2021-NYC, 2.96%, 5/10/41 (a) | 200,000 | 152,326 |
Global Atlantic Goldman Sachs Core Fixed Income Portfolio
Portfolio of Investments (Unaudited) (Continued)
September 30, 2023
| Shares/ Principal | Fair Value | |||
| Asset Backed and Commercial Backed Securities (continued) | ||||
| Freddie Mac Multifamily Structured Pass Through Certificates | ||||
| 3.82%, 12/25/32(f) | $50,000 | $44,762 | ||
| 5.99%, (SOFR + 0.68%), 2/25/33(b) | 100,000 | 100,148 | ||
| Freddie Mac STACR REMIC Trust 2021-DNA5, 6.96%, (SOFR + 1.65%), 1/25/34 (a),(b) | 20,121 | 19,971 | ||
| Freddie Mac STACR REMIC Trust 2022-DNA1, 6.32%, (SOFR + 1.00%), 1/25/42 (a),(b) | 56,449 | 55,966 | ||
| Freddie Mac STACR REMIC Trust 2022-DNA3, 7.32%, (SOFR + 2.00%), 4/25/42 (a),(b) | 21,591 | 21,744 | ||
| Halseypoint CLO 7 Ltd., 7.51%, (3 Month Term SOFR + 2.25%), 7/20/36 (a),(b) | 250,000 | 252,173 | ||
| Hyundai Auto Receivables Trust 2023-A, 5.19%, 12/15/25 | 200,000 | 199,204 | ||
| JP Morgan Mortgage Trust 2021-6, 2.50%, 10/25/51 (a),(f) | 99,523 | 74,425 | ||
| Morgan Stanley Capital I Trust 2020-HR8, 2.04%, 7/15/53 | 250,000 | 194,999 | ||
| Morgan Stanley Capital I Trust 2020-L4, 2.70%, 2/15/53 | 500,000 | 409,260 | ||
| Nissan Auto Receivables 2023-A Owner Trust, 5.34%, 2/17/26 | 100,000 | 99,595 | ||
| PHEAA Student Loan Trust 2012-1, 5.98%, (SOFR + 0.66%), 5/25/57 (a),(b) | 132,244 | 130,720 | ||
| TICP CLO X Ltd., 6.59%, (3 Month Term SOFR + 1.26%), 4/20/31 (a),(b) | 1,482,333 | 1,476,807 | ||
| Wells Fargo Mortgage Backed Securities Trust 2019-3, 3.50%, 7/25/49 (a),(f) | 6,106 | 5,229 | ||
| World Omni Auto Receivables Trust 2023-B, 5.25%, 11/16/26 | 200,000 | 199,014 | ||
| Total Asset Backed and Commercial Backed Securities | ||||
| (Cost - $7,163,484) | 6,777,897 | |||
| U.S. Treasury Securities and Agency Bonds - 7.1% | ||||
| Federal Farm Credit Banks Funding Corp. | ||||
| 2.90%, 4/12/32 | 290,000 | 247,380 | ||
| 3.50%, 9/1/32 | 40,000 | 35,605 | ||
| 2.85%, 3/28/34 | 370,000 | 303,916 | ||
| 1.70%, 4/23/35 | 540,000 | 378,979 | ||
| Federal Home Loan Banks, 4.75%, 12/10/32 | 80,000 | 78,158 |
| Shares/ Principal | Fair Value | |||
| U.S. Treasury Securities and Agency Bonds (continued) | ||||
| U.S. Treasury Bond | ||||
| 3.25%, 5/15/42 | $560,000 | $445,922 | ||
| 4.00%, 11/15/42 | 520,000 | 461,236 | ||
| U.S. Treasury Note | ||||
| 4.63%, 9/30/28 | 500,000 | 500,430 | ||
| 2.63%, 2/15/29 | 1,270,000 | 1,149,052 | ||
| 4.63%, 9/30/30 | 510,000 | 510,319 | ||
| Total U.S. Treasury Securities and Agency Bonds | ||||
| (Cost - $4,413,636) | 4,110,997 | |||
| Municipal Bonds - 1.4% | ||||
| California Statewide Communities Development Authority, 1.88%, 2/1/31 | 30,000 | 23,378 | ||
| City of Tucson, 1.46%, 7/1/28 | 5,000 | 4,187 | ||
| Metropolitan Transportation Authority | ||||
| 5.99%, 11/15/30(d) | 25,000 | 25,574 | ||
| 5.18%, 11/15/49(d) | 160,000 | 137,514 | ||
| Municipal Improvement Corp. of Los Angeles, 2.07%, 11/1/30 | 95,000 | 75,724 | ||
| New Jersey Turnpike Authority | ||||
| 1.48%, 1/1/28 | 5,000 | 4,329 | ||
| 7.10%, 1/1/41(d) | 25,000 | 28,289 | ||
| San Francisco Municipal Transportation Agency, 1.30%, 3/1/28 | 25,000 | 21,217 | ||
| State of California, 7.60%, 11/1/40 | 175,000 | 206,674 | ||
| State of Illinois, 5.10%, 6/1/33 (d) | 265,000 | 251,562 | ||
| Total Municipal Bonds | ||||
| (Cost - $896,537) | 778,448 | |||
| Sovereign Debts - 0.9% | ||||
| Chile Government International Bond, 4.95%, 1/5/36 | 200,000 | 183,489 | ||
| Mexico Government International Bond, 3.25%, 4/16/30 | 290,000 | 246,672 | ||
| Peruvian Government International Bond, 3.23%, 7/28/21 | 20,000 | 10,447 | ||
| Romanian Government International Bond | ||||
| 3.00%, 2/27/27(a) | 30,000 | 27,238 | ||
| 2.12%, 7/16/31 | EUR | 30,000 | 23,504 | |
| 2.00%, 1/28/32(a) | EUR | 70,000 | 53,277 | |
| Total Sovereign Debts | ||||
| (Cost - $652,739) | 544,627 |
Global Atlantic Goldman Sachs Core Fixed Income Portfolio
Portfolio of Investments (Unaudited) (Continued)
September 30, 2023
| Shares/ Principal | Fair Value | |||
| Short-Term Investments - 5.1% | ||||
| Money Market Funds - 5.1% | ||||
| Fidelity Investments Money Market Fund - Government Portfolio, Institutional Class, 5.23%(g) (Cost - $2,954,294) | 2,954,294 | $2,954,294 | ||
| Total Investments before Securities Sold Short - 112.0% | ||||
| (Cost - $69,982,942) | $64,772,460 | |||
| Other Assets Less Liabilities - Net (12.0)% | (6,923,682) | |||
| Total Net Assets - 100.0% | $57,848,778 |
| Shares/ Principal | Fair Value | |||
| Securities Sold Short - (7.5)% | ||||
| Agency Mortgage Backed Securities - (7.5)% | ||||
| Federal National Mortgage Association - (5.9)% | ||||
| Federal National Mortgage Association | ||||
| 2.50%, 10/1/53(e) | (1,000,000) | (793,437) | ||
| 2.50%, 11/1/53(e) | (1,000,000) | (794,531) | ||
| 4.00%, 11/1/53(e) | (1,000,000) | (891,133) | ||
| 5.00%, 11/1/53(e) | (1,000,000) | (943,711) | ||
| (3,422,812) | ||||
| Government National Mortgage Association - (1.6)% | ||||
| Ginnie Mae, 4.50%, 10/20/53(e) | (1,000,000) | $(923,125) | ||
| Total Securities Sold Short (Proceeds - $(4,412,363)) | $(4,345,937) |
| † | Represents less than 0.05%. |
| (a) | 144A - Security was purchased pursuant to Rule 144a under the Securities Act of 1933 and may not be resold subject to that rule, except to qualified institutional buyers. As of September 30, 2023, these securities amounted to $7,348,540 or 12.7% of net assets. |
| (b) | Variable rate security. The rate shown is the rate in effect at period end. |
| (c) | Step coupon. |
| (d) | Sinking bond security. |
| (e) | When-issued, or delayed delivery. All or a portion may be subject to dollar-roll transactions. |
| (f) | Adjustable rate security with an interest rate that is not based on a published reference index and spread. The rate is based on the structure of the agreement and current market conditions. The coupon rate shown represents the rate at period end. |
| (g) | The rate shown is the annualized seven-day yield at period end. |
| CLO | - | Collateralized Loan Obligation |
| CMT | - | Treasury Constant Maturity Rate |
| EUR | - | EURO |
| PLC | - | Public Limited Company |
| REMIC | - | Real Estate Mortgage Investment Conduit |
| REIT | - | Real Estate Investment Trust |
| SOFR | - | Secured Overnight Financing Rate |
Global Atlantic Goldman Sachs Core Fixed Income 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 | ||||||||||
| ICE 3 Month SONIA Future | Morgan Stanley | 2 | 12/17/2024 | $579,304 | $946 | |||||
| U.S. 2 Year Note Future | Morgan Stanley | 27 | 12/29/2023 | 5,473,195 | (9,100) | |||||
| U.S. 5 Year Note Future | Morgan Stanley | 20 | 12/29/2023 | 2,107,188 | (20,335) | |||||
| U.S. Long Bond Future | Morgan Stanley | 6 | 12/19/2023 | 682,688 | (7,031) | |||||
| U.S. Ultra Bond Future | Morgan Stanley | 28 | 12/19/2023 | 3,323,250 | (241,397) | |||||
| (276,917) | ||||||||||
| Short Futures Contracts | ||||||||||
| Euro-Bobl Future | Morgan Stanley | 4 | 12/7/2023 | 490,201 | 1,302 | |||||
| U.S. 10 Year Note Future | Morgan Stanley | 9 | 12/19/2023 | 972,562 | 355 | |||||
| U.S. 10 Year Ultra Future | Morgan Stanley | 7 | 12/19/2023 | 780,937 | 23,057 | |||||
| 24,714 | ||||||||||
| TOTAL NET UNREALIZED DEPRECIATION ON FUTURES CONTRACTS | $(252,203) | |||||||||
| Interest Rate Swaptions Written | ||||||||||||||||
| Counterparty | Description* | Floating Rate Index |
Exercise Rate | Expiration Date |
Notional Amount | Fair Value | Premiums Received |
Unrealized Appreciation (Depreciation) | ||||||||
| JP Morgan Chase Bank | Call - IRS SWAPTION | Tokyo Overnight Average Rate | Receives 0.40% | 01/05/24 | 23,000,000 JPY | $(210) | $(730) | $520 | ||||||||
| TOTAL FAIR VALUE, PREMIUMS RECEIVED AND NET UNREALIZED APPRECIATION ON INTEREST RATE SWAPTIONS WRITTEN | $(210) | $(730) | $520 | |||||||||||||
| * | The Fund may receive or pay a variable rate. |
Interest Rate Swaps
| Counterparty | Payment Frequency |
Fund Receives | Fund Pays | Expiration Date |
Notional Amount |
Fair Value | Premiums
Paid (Received) |
Unrealized Appreciation (Depreciation) | ||||||||
| Morgan Stanley | Annually | SOFR-COMPOUND | 5.310 | 04/21/25 | 150,000 USD | $2,122 | $(38) | $2,160 | ||||||||
| Morgan Stanley | Quarterly | 4.062 | 3 Month Stibor | 12/22/25 | 19,300,000 SEK | 2,369 | 2,168 | 201 |
Global Atlantic Goldman Sachs Core Fixed Income Portfolio
Portfolio of Investments (Unaudited) (Continued)
September 30, 2023
Interest Rate Swaps (continued)
| Counterparty | Payment Frequency |
Fund Receives | Fund Pays | Expiration Date |
Notional Amount |
Fair Value | Premiums Paid (Received) |
Unrealized Appreciation (Depreciation) | ||||||||
| Morgan Stanley | Annually | Euro Short-Term Rate | 3.880 | 12/22/25 | 1,760,000 EUR | $(2,279) | $(5,557) | $3,278 | ||||||||
| Morgan Stanley | Semi-Annually | 5.020 | Canadian Overnight Repo Rate Average | 12/22/25 | 1,270,000 CAD | (20,228) | (16,998) | (3,230) | ||||||||
| Morgan Stanley | Annually | 5.187 | Sterling Overnight Index Average | 12/22/25 | 870,000 GBP | 3,632 | 2,107 | 1,525 | ||||||||
| Morgan Stanley | Quarterly | 3 Month Australian Bill | 4.140 | 12/22/25 | 2,580,000 AUD | 9,350 | 6,637 | 2,713 | ||||||||
| Morgan Stanley | Annually | 0.500 | Tokyo Overnight Average Rate | 08/03/26 | 116,000,000 JPY | 457 | 3,416 | (2,959) | ||||||||
| Morgan Stanley | Annually | 3.880 | Euro Short-Term Rate | 04/24/28 | 1,270,000 EUR | (8,086) | 4,754 | (12,840) | ||||||||
| Morgan Stanley | Quarterly | 3 Month Euribor | 3.952 | 04/24/28 | 1,270,000 EUR | 8,044 | (4,464) | 12,508 | ||||||||
| Morgan Stanley | Annually | Tokyo Overnight Average Rate | 0.500 | 08/03/28 | 242,740,000 JPY | 11,702 | 3,274 | 8,428 | ||||||||
| Morgan Stanley | Annually | 3.880 | Euro Short-Term Rate | 10/19/28 | 430,000 EUR | (2,498) | 1,317 | (3,815) | ||||||||
| Morgan Stanley | Annually | 5.187 | Sterling Overnight Index Average | 12/20/28 | 290,000 GBP | 3,283 | 3,610 | (327) | ||||||||
| Morgan Stanley | Annually | Tokyo Overnight Average Rate | 0.500 | 12/20/28 | 291,000,000 JPY | 11,603 | 6,617 | 4,986 | ||||||||
| Morgan Stanley | Annually | 5.310 | SOFR-COMPOUND | 07/31/30 | 940,000 USD | (15,195) | 962 | (16,157) | ||||||||
| Morgan Stanley | Annually | 1.250 | Tokyo Overnight Average Rate | 08/02/33 | 49,780,000 JPY | (2,124) | 1,188 | (3,312) | ||||||||
| Morgan Stanley | Annually | Tokyo Overnight Average Rate | 1.250 | 08/03/33 | 25,000,000 JPY | 1,070 | (244) | 1,314 | ||||||||
| Morgan Stanley | Annually | Tokyo Overnight Average Rate | 1.00 | 12/20/33 | 125,000,000 JPY | 1,200 | (4,660) | 5,860 | ||||||||
| Morgan Stanley | Annually | 1.715 | Swiss Average Rate Overnight | 12/20/33 | 220,000 CHF | (1,380) | (559) | (821) | ||||||||
| Morgan Stanley | Semi-Annually | 4.405 | 6 Month Australian Bill | 12/20/33 | 150,000 AUD | (2,112) | 436 | (2,548) | ||||||||
| Morgan Stanley | Semi-Annually | Canadian Overnight Repo Rate Average | 5.020 | 12/20/33 | 90,000 CAD | 4,723 | 3,422 | 1,301 | ||||||||
| Morgan Stanley | Annually | 5.310 | SOFR-COMPOUND | 12/20/33 | 620,000 USD | (36,425) | (26,597) | (9,828) | ||||||||
| Morgan Stanley | Semi-Annually | 4.125 | 6 Month Euribor | 12/20/33 | 60,000 EUR | (656) | 42 | (698) | ||||||||
| Morgan Stanley | Quarterly | 3 Month Stibor | 4.062 | 12/20/33 | 2,000,000 SEK | 2,831 | 427 | 2,404 | ||||||||
| Morgan Stanley | Quarterly | 5.740 | 3 Month New Zealand Dollar Bank Bill Rate | 12/20/33 | 200,000 NZD | (3,870) | (142) | (3,728) | ||||||||
| Morgan Stanley | Annually | Sterling Overnight Index Average | 5.187 | 12/20/33 | 20,000 GBP | 131 | (100) | 231 |
Global Atlantic Goldman Sachs Core Fixed Income Portfolio
Portfolio of Investments (Unaudited) (Continued)
September 30, 2023
Interest Rate Swaps (continued)
| Counterparty | Payment Frequency |
Fund Receives | Fund Pays | Expiration Date |
Notional Amount | Fair Value | Premiums Paid (Received) |
Unrealized Appreciation (Depreciation) | ||||||||
| Morgan Stanley | Semi-Annually | 6 Month Norway Ibor | 5.030 | 12/20/33 | 980,000 NOK | $1,365 | $572 | $793 | ||||||||
| Morgan Stanley | Semi-Annually | 4.125 | 6 Month Euribor | 05/15/35 | 720,000 EUR | (13,109) | (6,064) | (7,045) | ||||||||
| Morgan Stanley | Semi-Annually | 4.125 | 6 Month Euribor | 08/10/37 | 600,000 EUR | (29,986) | (20,432) | (9,554) | ||||||||
| Morgan Stanley | Annually | 1.500 | Tokyo Overnight Average Rate | 08/03/38 | 27,000,000 JPY | (2,692) | (1,045) | (1,647) | ||||||||
| Morgan Stanley | Semi-Annually | 6 Month Euribor | 4.125 | 08/11/42 | 1,540,000 EUR | 79,039 | 54,177 | 24,862 | ||||||||
| Morgan Stanley | Semi-Annually | 4.125 | 6 Month Euribor | 08/12/47 | 900,000 EUR | (35,008) | (23,080) | (11,928) | ||||||||
| Morgan Stanley | Semi-Annually | 6 Month Euribor | 4.125 | 05/19/53 | 410,000 EUR | 18,838 | 14,345 | 4,493 | ||||||||
| Morgan Stanley | Semi-Annually | 6 Month Euribor | 4.125 | 12/22/53 | 70,000 EUR | 7,950 | 5,222 | 2,728 | ||||||||
| TOTAL FAIR VALUE, PREMIUMS PAID (RECEIVED) AND NET UNREALIZED DEPRECIATION ON INTEREST RATE SWAPS | $(5,939) | $4,713 | $(10,652) | |||||||||||||
† Unless otherwise indicated, notional amount is shown in USD.
| Credit Default Swaps | ||||||||||||||||||||||
| Counterparty | Reference Obligation/ Index | Payment Frequency | Buy/Sell Protection |
Fixed Rate Received | Fixed Rate Paid | Credit Rating* | Expiration Date | Notional Amount |
Fair Value | Premiums Paid (Received) | Unrealized Appreciation (Depreciation) | |||||||||||
| Morgan Stanley | CD The Boeing Company | Quarterly | Buy | 1.00% | – | BBB- | 06/20/24 | $100,000 | $495 | $345 | $150 | |||||||||||
| Morgan Stanley | CD General Electric Company | Quarterly | Buy | 1.00% | – | BBB | 06/20/26 | 325,000 | 5,055 | 2,402 | 2,653 | |||||||||||
| Morgan Stanley | CDX.NA.IG.40 | Quarterly | Buy | 1.00% | – | BBB | 06/20/28 | 476,577 | 6,449 | 7,294 | (845) | |||||||||||
| TOTAL FAIR VALUE PREMIUM PAID (RECEIVED) AND NET UNREALIZED APPRECIATION ON CREDIT DEFAULT SWAPS | $11,999 | $10,041 | $1,958 | |||||||||||||||||||
| * | Using S&P’s rating of the issuer or the underlying securities of the index. |
| Forward Foreign Currency Contracts | ||||||||||||
| Settlement Date | Counterparty | Currency Units to Receive | In Exchange For | Unrealized Appreciation (Depreciation) | ||||||||
| 12/06/23 | Morgan Stanley | 53,265 | USD | 49,729 | EUR | $453 | ||||||
Global Atlantic Goldman Sachs Core Fixed Income Portfolio
Portfolio of Investments (Unaudited) (Continued)
September 30, 2023
| 12/20/23 | Morgan Stanley | 247,560 | CHF | 280,326 | USD | (7,157) | ||||||
| 12/20/23 | Morgan Stanley | 31,782,238 | JPY | 219,345 | USD | (3,390) | ||||||
| 12/20/23 | Morgan Stanley | 88,683 | USD | 138,326 | AUD | (854) | ||||||
| 12/20/23 | Morgan Stanley | 128,184 | USD | 174,822 | CAD | (1,297) | ||||||
| 12/20/23 | Morgan Stanley | 127,191 | USD | 118,337 | EUR | 1,401 | ||||||
| 12/20/23 | Morgan Stanley | 115,973 | USD | 93,054 | GBP | 2,327 | ||||||
| 12/20/23 | Morgan Stanley | 87,321 | USD | 932,857 | NOK | (548) | ||||||
| 12/20/23 | Morgan Stanley | 88,695 | USD | 150,609 | NZD | (1,800) | ||||||
| 12/20/23 | Morgan Stanley | 93,878 | USD | 1,041,624 | SEK | (2,415) | ||||||
| TOTAL NET UNREALIZED DEPRECIATION ON FORWARD FOREIGN CURRENCY CONTRACTS | $(13,280) | |||||||||||
| AUD | - | Australian Dollar |
| CAD | - | Canadian Dollar |
| CHF | - | Swiss Franc |
| EUR | - | Euro |
| GBP | - | Pound Sterling |
| JPY | - | Japanese Yen |
| NOK | - | Norwegian Krone |
| NZD | - | New Zealand Dollar |
| SEK | - | Swedish Krona |
| USD | - | United States Dollar |