make question (depend on content of a file)

[James]

The goal is to satisfy both (a) and (b):

(a) the target(T) depends on a generated file(F) as well as
on the content of the file (file F contains a list of files).
(b) parallel make enabled

content = $(shell cat F)

T: F $(content)

F:
     Rule to generate F


How do I do it?
TIA

James