# EDGAR Filing Document

**Accession Number:** 0001504079
**File Stem:** 0001145549-23-011416
**Filing Date:** 2023-2
**Character Count:** 100638
**Document Hash:** 1b794fcf2b2fd1fa1499d57fd65e69ea
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-011416.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001145549-23-011416

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230227

**PERIOD START**: 20230331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GPS Funds II
- **CENTRAL INDEX KEY:** 0001504079
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22486
- **FILM NUMBER:** 23674332

**BUSINESS ADDRESS:**
- **STREET 1:** 1655 GRANT STREET
- **STREET 2:** 10TH FLOOR
- **CITY:** CONCORD
- **STATE:** CA
- **ZIP:** 94520
- **BUSINESS PHONE:** 800-664-5345

**MAIL ADDRESS:**
- **STREET 1:** 1655 GRANT STREET
- **STREET 2:** 10TH FLOOR
- **CITY:** CONCORD
- **STATE:** CA
- **ZIP:** 94520

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AssetMark Funds II
- **DATE OF NAME CHANGE:** 20101021

## Series and Classes Contracts Data

### GuidePath(R) Growth and Income Fund (Series ID: S000061598)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000199542 | GuidePath(R) Growth and Income Fund | GPIGX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **GuidePath® Growth and Income Fund** | **GuidePath® Growth and Income Fund** | |
| **Schedule of Investments (Unaudited)** | **Schedule of Investments (Unaudited)** | |
| **December 31, 2022** | **December 31, 2022** | |
| **Number of Shares** |  | **Value** |
| | **COMMON STOCKS - 35.08%** | |
| | **Aerospace & Defense - 0.52%** | |
| 649 | General Dynamics Corp. | $161023 |
| 777 | Lockheed Martin Corp. | 378003 |
|  |  | 539026 |
|  | **Air Freight & Logistics - 0.49%** |  |
| 2948 | United Parcel Service, Inc. - Class B | 512480 |
|  | **Banks - 1.27%** |  |
| 4385 | Citizens Financial Group, Inc. | 172637 |
| 13922 | Huntington Bancshares, Inc. (a) | 196300 |
| 734 | M&T Bank Corp. (a) | 106474 |
| 1036 | PNC Financial Services Group, Inc. (a) | 163626 |
| 9362 | Regions Financial Corp. (a) | 201845 |
| 6575 | Truist Financial Corp. | 282922 |
| 4396 | U.S. Bancorp | 191710 |
|  |  | 1315514 |
|  | **Beverages - 2.37%** |  |
| 19552 | Coca-Cola Co. | 1243703 |
| 6719 | PepsiCo, Inc. | 1213855 |
|  |  | 2457558 |
|  | **Biotechnology - 2.09%** |  |
| 8511 | AbbVie, Inc. | 1375462 |
| 3023 | Amgen, Inc. | 793961 |
|  |  | 2169423 |
|  | **Building Products - 0.27%** |  |
| 4404 | Johnson Controls International PLC - ADR | 281856 |
|  | **Capital Markets - 1.28%** |  |
| 488 | BlackRock, Inc. | 345811 |
| 3403 | Blackstone, Inc. | 252469 |
| 1342 | CME Group, Inc. | 225671 |
| 3811 | State Street Corp. | 295619 |
| 1926 | T. Rowe Price Group, Inc. (a) | 210050 |
|  |  | 1329620 |
|  | **Chemicals - 0.74%** |  |
| 1397 | Air Products & Chemicals, Inc. | 430639 |
| 4094 | LyondellBasell Industries NV - Class A - ADR | 339925 |
|  |  | 770564 |
|  | **Communications Equipment - 0.84%** |  |
| 18358 | Cisco Systems, Inc. | 874575 |
|  | **Consumer Finance - 0.51%** |  |
| 3548 | Capital One Financial Corp. | 329822 |
| 5978 | Synchrony Financial | 196437 |
|  |  | 526259 |
|  | **Diversified Telecommunication Services - 1.16%** |  |
| 21327 | AT&T, Inc. | 392630 |
| 20512 | Verizon Communications, Inc. | 808172 |
|  |  | 1200802 |
|  | **Electric Utilities - 0.58%** |  |
| 2202 | American Electric Power Co., Inc. | 209080 |
| 1013 | Eversource Energy | 84930 |
| 4327 | Xcel Energy, Inc. | 303366 |
|  |  | 597376 |
|  | **Electrical Equipment - 0.92%** |  |
| 3071 | Eaton Corp. PLC - ADR | 481993 |
| 4867 | Emerson Electric Co. (a) | 467524 |
|  |  | 949517 |
|  | **Food Products - 1.02%** |  |
| 2826 | Archer-Daniels-Midland Co. | 262394 |
| 4575 | General Mills, Inc. (a) | 383614 |
| 6164 | Mondelez International, Inc. - Class A | 410830 |
|  |  | 1056838 |
|  | **Health Care Equipment & Supplies - 0.42%** |  |
| 5552 | Medtronic PLC - ADR (a) | 431501 |
|  | **Health Care Providers & Services - 0.47%** |  |
| 5251 | CVS Health Corp. | 489341 |
|  | **Hotels, Restaurants & Leisure - 1.40%** |  |
| 3744 | McDonald's Corp. | 986656 |
| 4654 | Starbucks Corp. | 461677 |
|  |  | 1448333 |
|  | **Household Durables - 0.12%** |  |
| 879 | Whirlpool Corp. (a) | 124343 |
|  | **Household Products - 1.95%** |  |
| 5752 | Colgate-Palmolive Co. | 453200 |
| 1769 | Kimberly-Clark Corp. | 240142 |
| 8759 | Procter & Gamble Co. | 1327514 |
|  |  | 2020856 |
|  | **Industrial Conglomerates - 1.31%** |  |
| 4738 | 3M Co. | 568181 |
| 3688 | Honeywell International, Inc. | 790339 |
|  |  | 1358520 |
|  | **Insurance - 0.78%** |  |
| 5404 | Aflac, Inc. | 388764 |
| 3343 | Hartford Financial Services Group, Inc. | 253500 |
| 911 | Travelers Cos., Inc. | 170803 |
|  |  | 813067 |
|  | **IT Services - 1.30%** |  |
| 2004 | Automatic Data Processing, Inc. | 478675 |
| 4950 | International Business Machines Corp. (a) | 697406 |
| 1482 | Paychex, Inc. | 171260 |
|  |  | 1347341 |
|  | **Leisure Products - 0.06%** |  |
| 945 | Hasbro, Inc. | 57654 |
|  | **Machinery - 1.16%** |  |
| 2594 | Caterpillar, Inc. | 621418 |
| 1347 | Cummins, Inc. | 326365 |
| 1165 | Illinois Tool Works, Inc. (a) | 256650 |
|  |  | 1204433 |
|  | **Media - 0.95%** |  |
| 24420 | Comcast Corp. - Class A | 853968 |
| 7857 | Paramount Global - Class B (a) | 132626 |
|  |  | 986594 |
|  | **Multiline Retail - 0.39%** |  |
| 2717 | Target Corp. (a) | 404942 |
|  | **Multi-Utilities - 0.96%** |  |
| 3267 | Ameren Corp. | 290502 |
| 2203 | Consolidated Edison, Inc. (a) | 209968 |
| 1727 | DTE Energy Co. | 202974 |
| 1906 | Sempra Energy | 294553 |
|  |  | 997997 |
|  | **Oil, Gas & Consumable Fuels - 0.81%** |  |
| 21418 | Kinder Morgan, Inc. | 387237 |
| 3877 | Marathon Petroleum Corp. | 451244 |
|  |  | 838481 |
|  | **Pharmaceuticals - 3.50%** |  |
| 7595 | Johnson & Johnson | 1341658 |
| 11761 | Merck & Co., Inc. | 1304883 |
| 19196 | Pfizer, Inc. (a) | 983603 |
|  |  | 3630144 |
|  | **Road & Rail - 0.38%** |  |
| 1889 | Union Pacific Corp. | 391155 |
|  | **Semiconductors & Semiconductor Equipment - 2.90%** |  |
| 991 | Analog Devices, Inc. | 162554 |
| 1948 | Broadcom, Inc. (a) | 1089185 |
| 16013 | Intel Corp. | 423224 |
| 5532 | QUALCOMM, Inc. | 608188 |
| 4373 | Texas Instruments, Inc. | 722507 |
|  |  | 3005658 |
|  | **Specialty Retail - 1.56%** |  |
| 1848 | Advance Auto Parts, Inc. | 271711 |
| 935 | Best Buy Co., Inc. (a) | 74996 |
| 4007 | Home Depot, Inc. (a) | 1265652 |
|  |  | 1612359 |
|  | **Technology Hardware, Storage & Peripherals - 0.19%** |  |
| 7375 | HP, Inc. | 198166 |
|  | **Tobacco - 0.41%** |  |
| 4161 | Philip Morris International, Inc. | 421135 |
|  | **Total Common Stocks (Cost $31,716,115)** | **36363428** |
|  | **INVESTMENT COMPANIES - 35.94%** |  |
|  | **Domestic Equity Funds - 35.21%** |  |
| 189769 | Global X MLP ETF (a) | 7835562 |
| 265049 | Vanguard High Dividend Yield ETF (c) | 28680952 |
|  |  | 36516514 |
|  | **Domestic Fixed Income Funds - 0.73%** |  |
| 8223 | SPDR Bloomberg Barclays 1-3 Month T-Bill ETF (a) | 752158 |
|  | **Total Investment Companies (Cost $37,696,017)** | **37268672** |
|  | **SHORT TERM INVESTMENTS - 28.42%** |  |
|  | **Money Market Funds - 17.09%** |  |
| 17721363 | DWS Government Money Market Series - Institutional Shares |  |
|  | &nbsp;&nbsp;&nbsp; Effective Yield, 4.22%, (b) | 17721363 |
| **Principal Amount** |  |  |
|  | **U.S. Treasury Bills - 2.84%** |  |
| $3000000 | &nbsp;&nbsp;&nbsp; 0.00%, 06/15/2023 | 2939592 |
|  | **U.S. Treasury Notes - 8.49%** |  |
| 3000000 | &nbsp;&nbsp;&nbsp; 2.500%, 03/31/2023 (d) | 2985965 |
| 3000000 | &nbsp;&nbsp;&nbsp; 1.375%, 09/30/2023 (d) | 2926994 |
| 3000000 | &nbsp;&nbsp;&nbsp; 0.500%, 11/30/2023 | 2886456 |
|  |  | 8799415 |
|  | **Total Short Term Investments (Cost $29,520,879)** | **29460370** |
| **Number of Units** |  |  |
|  | **INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING COLLATERAL - 8.40%** |  |
| 8706335 | Mount Vernon Liquid Assets Portfolio, LLC |  |
|  | &nbsp;&nbsp;&nbsp; Effective Yield, 4.49% (b) | 8706335 |
|  | **Total Investments Purchased with Proceeds from Securities Lending Collateral (Cost $8,706,335)** | **8706335** |
|  | **Total Investments (Cost $107,639,346) - 107.84%** | **111798805** |
|  | **Liabilities in Excess of Other Assets - (7.84)%** | **(8130417)** |
|  | **TOTAL NET ASSETS - 100.00%** | $**103668388** |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |  |
| (a) | All or portion of this security is on loan. |  |
| (b) | Seven-day yield as of December 31, 2022. |  |
| (c) | Fair Value of the security exceeds 25% of the Fund's net assets. Additional information for this security, including the financial statements, is available from the SEC's EDGAR database at www.sec.gov. |  |
| (d) | All or poriton of this security is held as collateral for certain options written contracts. The approximate value of the portion on these securities held is $5,425,005. |  |
| Glossary of Terms |  |  |
| ADR - | American Depositary Receipt |  |

---

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **GuidePath Growth and Income Fund** |  |  |  |  | |
| **Schedule of Open Futures Contracts (Unaudited)** | **Schedule of Open Futures Contracts (Unaudited)** | **Schedule of Open Futures Contracts (Unaudited)** | **Schedule of Open Futures Contracts (Unaudited)** | **Schedule of Open Futures Contracts (Unaudited)** | |
| **December 31, 2022** | | | | | |
| **Description** | **Number of Contracts Purchased /** <br> (Sold) | **Long/Short** | **Notional** <br> **Value** | **Settlement** <br> **Month** | **Value/** <br> **Unrealized** <br> **Appreciation** <br> (Depreciation) |
| E-mini S&P 500 Futures | (42) | Short | $(,8108100) | Mar-23 | $407967 |
|  |  |  |  |  | $407967 |

---

------

---

| | | | |
|:---|:---|:---|:---|
| **GuidePath Growth and Income Fund** | **GuidePath Growth and Income Fund** |  | |
| **Schedule of Options Written (Unaudited)** | **Schedule of Options Written (Unaudited)** |  | |
| **December 31, 2022** | **December 31, 2022** |  | |
| | | **Options on Equities** | |
| **Notional Amount** | **Number of Contracts** | **Put Options** | **Value** |
| $3800000 | 10 | CBOE S&P 500 Index |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;Counterparty: Interactive Brokers |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;Expiration: January 13, 2023 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;Exercise Price: $3,800.00 | $(46000) |
| 3830000 | 10 | CBOE S&P 500 Index |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;Counterparty: Interactive Brokers |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;Expiration: January 20, 2023 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;Exercise Price: $3,830.00 | (97695) |
| 3890000 | 10 | CBOE S&P 500 Index |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;Counterparty: Interactive Brokers |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;Expiration: January 20, 2023 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;Exercise Price: $3,890.00 | (104000) |
| 3875000 | 10 | CBOE S&P 500 Index |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;Counterparty: Interactive Brokers |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;Expiration: January 27, 2023 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;Exercise Price: $3,875.00 | (110550) |
| 3875000 | 10 | S&P 500 Index |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;Counterparty: Interactive Brokers |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;Expiration: February 3, 2023 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;Exercise Price: $3,875.00 | (109950) |
| 3800000 | 10 | S&P 500 Index |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;Counterparty: Interactive Brokers |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;Expiration: February 10, 2023 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;Exercise Price: $3,800.00 | (88920) |
|  | **Total Options Written (Premiums Received $593,565)** | **Total Options Written (Premiums Received $593,565)** | $(557115) |

---

## Nport-Ex

---

| |
|:---|
| The Global Industry Classification Standard ("GICS®") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS is a service mark of MSCI and S&P and has been licesned for use by U.S. Bank Global Fund Services. |
| **Security Valuation** |
| The Funds have adopted authoritative fair valuation accounting standards which establish an authoritative definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value and a discussion in changes in valuation techniques and related inputs, if any, during the period. In addition, these standards require expanded disclosure for each major category of assets. These inputs are summarized in the three broad levels listed below: |
| Level 1 - Quoted prices in active markets for identical securities. |
| Level 2 - Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.). |
| Level 3 - Significant unobservable inputs (including the Funds' own assumptions in determining the fair value of investments). |
| During the period, certain securities and other instruments held by the Funds were categorized as Level 2 or Level 3 based upon the inputs and methodologies used to determine the fair value of the security or instrument. Descriptions of the inputs and valuation methodologies used to determine the fair values of each class of investments within Level 2 and Level 3 are set forth below. |
| <u>Level 2 Investments.</u> The Funds' investments that were categorized as Level 2 include: (1) certain fixed income securities, including asset-backed securities, collateralized mortgage obligations, corporate obligations, U.S. and foreign government obligations, mortgage-backed securities and municipal bonds; (2) certain foreign common stocks, preferred stocks, participatory notes, and real estate investment trusts; and (3) certain over-the-counter derivative instruments, including forward currency contracts, written options, and swaps. |
| Fixed income securities are normally valued by pricing vendors that use broker-dealer quotations, reported trades or valuation estimates from their internal pricing models. The service providers' internal models typically use inputs that are observable such as institutional-sized trading in similar groups of securities, yield, credit quality, coupon rate, maturity, type of issue, trading characteristics and other market data. |
| Certain common stocks that trade on foreign exchanges are subject to valuation adjustments. These valuation adjustments are applied to the foreign exchange-traded common stocks to account for the market movement between the close of the foreign market in which the security is traded and the close of the New York Stock Exchange. These securities are valued using pricing vendors that consider the correlation patterns of price movements of the foreign security to the intraday trading in the U.S. markets. |
| Forward currency contracts and swaps derive their value from underlying asset prices, indices, reference rates, and other inputs or a combination of these factors. These instruments are normally valued using pricing vendors. Depending upon the instrument, its value may be provided by a pricing vendor using a series of techniques, including pricing models. The pricing models typically use inputs that are observed from active markets such as indices, spreads, interest rates, curves, dividends and exchange rates. |
| <u>Level 3 Investments.</u> The Funds' investments that were categorized as Level 3 include: fair valued securities. |
| Fair valued securities are normally valued by pricing vendors using relevant observable inputs, as described above. In certain circumstances, the types of observable inputs that are typically used by a pricing service may be unavailable or deemed by the pricing service to be unreliable. In these instances, the pricing vendor may value the security based upon significant unobservable inputs, or the pricing vendor may not provide a value for the security. To the extent that a pricing vendor does not provide a value for a particular security, or the pricing vendor provides a value that the Valuation Committee does not believe accurately reflects the value of the security, the security will be valued by the Valuation Committee based upon the information available to the Committee at the time of valuation and in accordance with procedures adopted by the Board. These methodologies may require subjective judgments and determinations about the value of a particular security. When significant unobservable inputs are used to value a security, the security is categorized as Level 3. |
| To verify Level 3 unobservable inputs, the Valuation Committee uses a variety of techniques as appropriate to substantiate these valuation approaches including a regular review of key inputs and assumptions, transaction back-testing or disposition analysis and review of related market activity. |
| The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities. |
| The following is a summary of the inputs used to value the Funds' net assets as of December 31, 2022: |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **GuideMark<sup>®</sup> Large Cap Core Fund** | | | | |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Common Stocks** | $**471028200** | $**-** | $**70957** | $**471099157** |
| **Investment Companies** | **11185612** | **-** | **-** | **11185612** |
| **Real Estate Investment Trusts** | **5550898** | **-** | **-** | **5550898** |
| **Short Term Investments** | **60815** | **-** | **-** | **60815** |
| **Investments Purchased with Proceeds from Securities Lending Collateral\*** | **-** | **-** | **-** | **60957881** |
| **Total Investments in Securities** | $**487825525** | $**-** | $**70957** | $**548854363** |
| \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. |
| Below is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value. | Below is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value. | Below is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value. | Below is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value. |  |
| **Description** |  |  |  | **Common Stocks** |
| Balance as of April 1, 2022 |  |  |  | $140204 |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchases |  |  |  | - |
| &nbsp;&nbsp;&nbsp;&nbsp; Sales proceeds and paydowns |  |  |  | - |
| &nbsp;&nbsp;&nbsp;&nbsp; Accreted discounts, net |  |  |  | - |
| &nbsp;&nbsp;&nbsp;&nbsp; Corporate Actions |  |  |  | - |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) |  |  |  | - |
| Change in unrealized appreciation (depreciation) | Change in unrealized appreciation (depreciation) |  |  | (69247) |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers into/(out of) Level 3 |  |  |  | - |
| **Balance as of December 31, 2022** |  |  |  | $**70957** |
| Change in unrealized appreciation (depreciation) during the | Change in unrealized appreciation (depreciation) during the |  |  |  |
| period for Level 3 investments held at December 31, 2022. | period for Level 3 investments held at December 31, 2022. |  |  | $**(69247)** |
| For further information regarding security characteristics, see the Schedule of Investments. | For further information regarding security characteristics, see the Schedule of Investments. | For further information regarding security characteristics, see the Schedule of Investments. |  |  |
| **GuideMark<sup>®</sup> Emerging Markets Fund** |  |  |  |  |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Common Stocks** |  |  |  |  |
| Communication Services | $217335 | $3535838 | $- | $3753173 |
| Consumer Discretionary | 725739 | 5044213 | 8242 | 5778194 |
| Consumer Staples | 592544 | 3467573 | 0 | 4060117 |
| Energy | 54255 | 2846162 | 0 | 2900417 |
| Financials | 520153 | 8076753 | 0 | 8596906 |
| Health Care | 111686 | 1921630 | - | 2033316 |
| Industrials | - | 2901127 | - | 2901127 |
| Information Technology | 63359 | 8377738 | 0 | 8441097 |
| Materials | 305344 | 3178745 | 0 | 3484089 |
| Real Estate | - | 518328 | 22761 | 541089 |
| Utilities | 65249 | 944987 | - | 1010236 |
| **Total Common Stocks** | **2655664** | **40813094** | **31003** | **43499761** |
| **Investment Companies** | **1797094** | **-** | **-** | **1797094** |
| **Preferred Stocks** | **-** | **1154691** | **-** | **1154691** |
| **Rights** | **-** | **-** | **0** | **0** |
| **Short Term Investments** | **944** | **-** | **-** | **944** |
| **Investments Purchased with Proceeds from Securities Lending Collateral\*** | **-** | **-** | **-** | **2102029** |
| **Total Investments in Securities** | $**4453702** | $**41967785** | $**31003** | $**48554519** |
| \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. |

---

---

| | | |
|:---|:---|:---|
| Below is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value. | Below is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value. | Below is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value. |
| **Description** | **Common Stocks** | **Right** |
| Balance as of April 1, 2022 | $- | $- |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchases | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp; Sales proceeds and paydowns | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp; Accreted discounts, net | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp; Corporate Actions | 7557 | 0 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) | 684 | - |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers into/(out of) Level 3 | 22762<br> \* | - |
| **Balance as of December 31, 2022** | $**31003** | $**0** |
| Change in unrealized appreciation (depreciation) during the |  |  |
| period for Level 3 investments held at December 31, 2022. | $**(42450)** | $**-** |
| \*Two common stocks transferred from Level 2 to Level 3 due to a lack of observable market data. | \*Two common stocks transferred from Level 2 to Level 3 due to a lack of observable market data. |  |
| For further information regarding security characteristics, see the Schedule of Investments. | For further information regarding security characteristics, see the Schedule of Investments. |  |

---

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| | | | | |
|:---|:---|:---|:---|:---|
| **GuideMark<sup>®</sup> Small/Mid Cap Core Fund** | | | | |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Common Stock** | $**84318604** | $**-** | $**13672** | $**84332276** |
| **Investment Companies** | **2192456** | **-** | **-** | **2192456** |
| **Real Estate Investment Trusts** | **4407392** | **-** | **-** | **4407392** |
| **Rights** | **-** | **-** | **0** | **0** |
| **Short Term Investments** | **266869** | **-** | **-** | **266869** |
| **Investments Purchased with Proceeds from Securities Lending Collateral\*** | **-** | **-** | **-** | **30064806** |
| **Total Investments in Securities** | $**91185321** | $**-** | $**13672** | $**121263799** |
| \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. |

---

---

| | | |
|:---|:---|:---|
| Below is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value. | Below is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value. | Below is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value. |
| **Description** | **Common Stocks** | **Rights** |
| Balance as of April 1, 2022 | 23760 | 322 |
| &nbsp;&nbsp;&nbsp;&nbsp; Purchases | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp; Sales proceeds and paydowns | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp; Accreted discounts, net | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp; Corporate Actions | (544) | 2063 |
| &nbsp;&nbsp;&nbsp;&nbsp; Realized gain (loss) | 544 | (2026) |
| &nbsp;&nbsp;&nbsp;&nbsp; Change in unrealized appreciation (depreciation) | (10088) | (359) |
| &nbsp;&nbsp;&nbsp;&nbsp; Transfers into/(out of) Level 3 | - | - |
| **Balance as of December 31, 2022** | $**13672** | $**0** |
| Change in unrealized appreciation (depreciation) during the |  |  |
| period for Level 3 investments held at December 31, 2022. | $**(10088)** | $**(359)** |
| For further information regarding security characteristics, see the Schedule of Investments. |  |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **GuideMark<sup>®</sup> World ex-US Fund** | | | | |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Common Stocks** |  |  |  |  |
| Communication Services | $11656 | $4175647 | $- | $4187303 |
| Consumer Discretionary | 582435 | 11676186 | - | 12258621 |
| Consumer Staples | 1535256 | 8419255 | - | 9954511 |
| Energy | 2395373 | 5439218 | - | 7834591 |
| Financials | 3395879 | 15483616 | - | 18879495 |
| Health Care | 172122 | 11946457 | - | 12118579 |
| Industrials | 1221324 | 13211244 | - | 14432568 |
| Information Technology | 782633 | 4337768 | - | 5120401 |
| Materials | 1265269 | 5137414 | - | 6402683 |
| Real Estate | 80701 | 888575 | - | 969276 |
| Utilities | 123440 | 1578969 | - | 1702409 |
| **Total Common Stocks** | **11566088** | **82294349** | **-** | **93860437** |
| **Preferred Stocks** | **-** | **428636** | **-** | **428636** |
| **Real Estate Investment Trusts** | **12641** | **68526** | **-** | **81167** |
| **Short Term Investments** | **3852** | **-** | **-** | **3852** |
| **Investments Purchased with Proceeds from Securities Lending Collateral\*** | **-** | **-** | **-** | **2018962** |
| **Total Investments in Securities** | $**11582581** | $**82791511** | $**-** | $**96393054** |
| \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. |
| For further information regarding security characteristics, see the Schedule of Investments. | For further information regarding security characteristics, see the Schedule of Investments. | For further information regarding security characteristics, see the Schedule of Investments. |  |  |
| **GuideMark<sup>®</sup> Core Fixed Income Fund** |  |  |  |  |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Fixed Income** |  |  |  |  |
| Asset Backed Securities | $- | $12902081 | $- | $12902081 |
| Collateralized Mortgage Obligations | - | 26875247 | - | 26875247 |
| Corporate Obligations | - | 40416655 | - | 40416655 |
| Foreign Government Debt Obligations | - | 2438321 | - | 2438321 |
| Mortgage Backed Securities - U.S. Government Agency | - | 62923143 | - | 62923143 |
| Municipal Debt Obligations | - | 2876391 | - | 2876391 |
| U.S. Treasury Obligations | - | 44109864 | - | 44109864 |
| **Total Fixed Income** | **-** | **192541702** | **-** | **192541702** |
| **Short Term Investments** | **1481701** | **-** | **-** | **1481701** |
| **Investments Purchased with Proceeds from Securities Lending Collateral\*** | **-** | **-** | **-** | **1856938** |
| **Total Investments in Securities** | $**1481701** | $**192541702** | $**-** | $**195880341** |
| **Other Financial Instruments\*\*** |  |  |  |  |
| **Futures** | $**159832** | $**-** | $**-** | $**159832** |
| **Swaps** | **-** | **176783** | **-** | **176783** |
| \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. |
| \*\*Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures and swaps. Futures and swaps are reflected as the unrealized appreciation (depreciation) on the instrument. | \*\*Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures and swaps. Futures and swaps are reflected as the unrealized appreciation (depreciation) on the instrument. | \*\*Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures and swaps. Futures and swaps are reflected as the unrealized appreciation (depreciation) on the instrument. | \*\*Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures and swaps. Futures and swaps are reflected as the unrealized appreciation (depreciation) on the instrument. | \*\*Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures and swaps. Futures and swaps are reflected as the unrealized appreciation (depreciation) on the instrument. |
| For further information regarding security characteristics, see the Schedule of Investments. | For further information regarding security characteristics, see the Schedule of Investments. | For further information regarding security characteristics, see the Schedule of Investments. | For further information regarding security characteristics, see the Schedule of Investments. |  |
| **GuidePath<sup>®</sup> Growth Allocation Fund** |  |  |  |  |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Investment Companies** | $**883569788** | $**-** | $**-** | $**883569788** |
| **Short Term Investments** | **7382196** | **-** | **-** | **7382196** |
| **Investments Purchased with Proceeds from Securities Lending Collateral\*** | **-** | **-** | **-** | **137161776** |
| **Total Investments in Securities** | $**890951984** | $**-** | $**-** | $**1028113760** |
| \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. |
| For further information regarding security characteristics, see the Schedule of Investments. | For further information regarding security characteristics, see the Schedule of Investments. | For further information regarding security characteristics, see the Schedule of Investments. |  |  |
| **GuidePath<sup>®</sup> Conservative Allocation Fund** |  |  |  |  |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Investment Companies** | $**392495831** | $**-** | $**-** | $**392495831** |
| **Short Term Investments** | **922** | **-** | **-** | **922** |
| **Investments Purchased with Proceeds from Securities Lending Collateral\*** | **-** | **-** | **-** | **37341365** |
| **Total Investments in Securities** | $**392496753** | $**-** | $**-** | $**429838118** |
| \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. |
| For further information regarding security characteristics, see the Schedule of Investments. | For further information regarding security characteristics, see the Schedule of Investments. | For further information regarding security characteristics, see the Schedule of Investments. |  |  |
| **GuidePath<sup>®</sup> Tactical Allocation Fund** |  |  |  |  |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Common Stocks** | $**293944622** | $**-** | $**-** | $**293944622** |
| **Short Term Investments** | **196866896** | **-** | **-** | **196866896** |
| **Investments Purchased with Proceeds from Securities Lending Collateral\*** | **-** | **-** | **-** | **39698073** |
| **Total Investments in Securities** | $**490811518** | $**-** | $**-** | $**530509591** |
| \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. |
| For further information regarding security characteristics, see the Schedule of Investments. | For further information regarding security characteristics, see the Schedule of Investments. | For further information regarding security characteristics, see the Schedule of Investments. |  |  |
| **GuidePath<sup>®</sup> Absolute Return Allocation Fund** |  |  |  |  |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Investment Companies** | $**326529992** | $**-** | $**-** | $**326529992** |
| **Short Term Investments** | **211** | **-** | **-** | **211** |
| **Investments Purchased with Proceeds from Securities Lending Collateral\*** | **-** | **-** | **-** | **24027998** |
| **Total Investments in Securities** | $**326530203** | $**-** | $**-** | $**350558201** |
| \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. |
| For further information regarding security characteristics, see the Schedule of Investments. | For further information regarding security characteristics, see the Schedule of Investments. | For further information regarding security characteristics, see the Schedule of Investments. |  |  |
| **GuidePath<sup>®</sup> Multi-Asset Income Allocation Fund** |  |  |  |  |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Investment Companies** | $**85396650** | $**-** | $**-** | $**85396650** |
| **Short Term Investments** | **82** | **-** | **-** | **82** |
| **Investments Purchased with Proceeds from Securities Lending Collateral\*** | **-** | **-** | **-** | **10337699** |
| **Total Investments in Securities** | $**85396732** | $**-** | $**-** | $**95734431** |
| \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. |
| For further information regarding security characteristics, see the Schedule of Investments. | For further information regarding security characteristics, see the Schedule of Investments. | For further information regarding security characteristics, see the Schedule of Investments. |  |  |
| **GuidePath<sup>®</sup> Flexible Income Allocation Fund** |  |  |  |  |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Investment Companies** | $**288861713** | $**-** | $**-** | $**288861713** |
| **Short Term Investments** | **2536128** | **-** | **-** | **2536128** |
| **Investments Purchased with Proceeds from Securities Lending Collateral\*** | **-** | **-** | **-** | **61808433** |
| **Total Investments in Securities** | $**291397841** | $**-** | $**-** | $**353206274** |
| \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. |
| For further information regarding security characteristics, see the Schedule of Investments. | For further information regarding security characteristics, see the Schedule of Investments. | For further information regarding security characteristics, see the Schedule of Investments. |  |  |
| **GuidePath<sup>®</sup> Managed Futures Strategy Fund** |  |  |  |  |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Short Term Investments** | $**14127927** | $**450261315** | $**-** | $**464389242** |
| **Total Investments in Securities** | $**14127927** | $**450261315** | $**-** | $**464389242** |
| **Other Financial Instruments\*** |  |  |  |  |
| **Futures** | $**9273596** | $**-** | $**-** | $**9273596** |
| **Forward Currency Contracts** | $**-** | $**841958** | $**-** | $**841958** |
| \*Other financial instruments are derivative instruments not reflected in the Consolidated Schedule of Investments, such as futures and forward currency contracts. Futures and forward currency contracts are reflected as the unrealized appreciation (depreciation) on the instrument. | \*Other financial instruments are derivative instruments not reflected in the Consolidated Schedule of Investments, such as futures and forward currency contracts. Futures and forward currency contracts are reflected as the unrealized appreciation (depreciation) on the instrument. | \*Other financial instruments are derivative instruments not reflected in the Consolidated Schedule of Investments, such as futures and forward currency contracts. Futures and forward currency contracts are reflected as the unrealized appreciation (depreciation) on the instrument. | \*Other financial instruments are derivative instruments not reflected in the Consolidated Schedule of Investments, such as futures and forward currency contracts. Futures and forward currency contracts are reflected as the unrealized appreciation (depreciation) on the instrument. | \*Other financial instruments are derivative instruments not reflected in the Consolidated Schedule of Investments, such as futures and forward currency contracts. Futures and forward currency contracts are reflected as the unrealized appreciation (depreciation) on the instrument. |
| For further information regarding security characteristics, see the Consolidated Schedule of Investments. | For further information regarding security characteristics, see the Consolidated Schedule of Investments. | For further information regarding security characteristics, see the Consolidated Schedule of Investments. | For further information regarding security characteristics, see the Consolidated Schedule of Investments. |  |
| **GuidePath<sup>®</sup> Conservative Income Fund** |  |  |  |  |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Investment Companies** | $**6440408** | $**-** | $**-** | $**6440408** |
| **Short Term Investments** | **4620515** | **2685921** | **-** | **7306436** |
| **Investments Purchased with Proceeds from Securities Lending Collateral\*** | **-** | **-** | **-** | **2207725** |
| **Total Investments in Securities** | $**11060923** | $**2685921** | $**-** | $**15954569** |
| \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. |
| For further information regarding security characteristics, see the Schedule of Investments. | For further information regarding security characteristics, see the Schedule of Investments. | For further information regarding security characteristics, see the Schedule of Investments. | For further information regarding security characteristics, see the Schedule of Investments. |  |
| **GuidePath<sup>®</sup> Income Fund** |  |  |  |  |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Investment Companies** | $**52829056** | $**-** | $**-** | $**52829056** |
| **Short Term Investments** | **1380090** | **-** | **-** | **1380090** |
| **Total Investments in Securities** | $**54209146** | $**-** | $**-** | $**54209146** |
| For further information regarding security characteristics, see the Schedule of Investments. | For further information regarding security characteristics, see the Schedule of Investments. | For further information regarding security characteristics, see the Schedule of Investments. | For further information regarding security characteristics, see the Schedule of Investments. |  |
| **GuidePath<sup>®</sup> Growth & Income Fund** |  |  |  |  |
|  | Level 1 | Level 2 | Level 3 | Total |
| **Common Stock** | $**36363428** | $**-** | $**-** | $**36363428** |
| **Investment Companies** | **37268672** | **-** | **-** | **37268672** |
| **Short Term Investments** | **17721363** | **11739007** | **-** | **29460370** |
| **Investments Purchased with Proceeds from Securities Lending Collateral\*** | **-** | **-** | **-** | **8706335** |
| **Total Investments in Securities** | $**91353463** | $**11739007** | $**-** | $**111798805** |
| **Other Financial Instruments\*\*** |  |  |  |  |
| **Futures** | $**407967** | $**-** | $**-** | $**407967** |
| **Options Written** | **(447165)** | **(109950)** | **-** | **(557115)** |
| \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. | \* Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Statement of Assets and Liabilities. |
| \*\*Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures and written options. Futures are reflected as unrealized appreciation (depreciation) on the instrument, while written options are reflected at value. | \*\*Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures and written options. Futures are reflected as unrealized appreciation (depreciation) on the instrument, while written options are reflected at value. | \*\*Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures and written options. Futures are reflected as unrealized appreciation (depreciation) on the instrument, while written options are reflected at value. | \*\*Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures and written options. Futures are reflected as unrealized appreciation (depreciation) on the instrument, while written options are reflected at value. | \*\*Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures and written options. Futures are reflected as unrealized appreciation (depreciation) on the instrument, while written options are reflected at value. |
| For further information regarding security characteristics, see the Schedule of Investments. | For further information regarding security characteristics, see the Schedule of Investments. | For further information regarding security characteristics, see the Schedule of Investments. | For further information regarding security characteristics, see the Schedule of Investments. |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| The GuidePath<sup>®</sup> Flexible Income Allocation Fund owned 5% or more of the voting securities of the following company during the period ended December 31, 2022. As a result, this company is deemed to be an affiliated company. The below table represents fair value: | The GuidePath<sup>®</sup> Flexible Income Allocation Fund owned 5% or more of the voting securities of the following company during the period ended December 31, 2022. As a result, this company is deemed to be an affiliated company. The below table represents fair value: | The GuidePath<sup>®</sup> Flexible Income Allocation Fund owned 5% or more of the voting securities of the following company during the period ended December 31, 2022. As a result, this company is deemed to be an affiliated company. The below table represents fair value: | The GuidePath<sup>®</sup> Flexible Income Allocation Fund owned 5% or more of the voting securities of the following company during the period ended December 31, 2022. As a result, this company is deemed to be an affiliated company. The below table represents fair value: | The GuidePath<sup>®</sup> Flexible Income Allocation Fund owned 5% or more of the voting securities of the following company during the period ended December 31, 2022. As a result, this company is deemed to be an affiliated company. The below table represents fair value: |
| **Issuer** | **Value as of April 1, 2022** | **Purchases** | **Sales** | **Realized Gain (Loss)** |
| WisdomTree Bloomberg U.S. Dollar Bullish Fund<sup>1</sup> | $11530173 | $4048738 | $5770581 | $213000 |
|  | $11530173 | $4048738 | $5770581 | $213000 |
| **Issuer** | **Change in Unrealized Appreciation (Depreciation)** | **Dividend** <br> **Income** | **Fair Value as of** <br> **December 31, 2022** | **Share Balance as of<br> December 31, 2022** |
| WisdomTree Bloomberg U.S. Dollar Bullish Fund<sup>1</sup> | $(171851) | $104469 | $9849479 | 378099 |
|  | $(171851) | $104469 | $9849479 | 378099 |
| <sup>1</sup>No longer an affiliate as of December 31, 2022. | <sup>1</sup>No longer an affiliate as of December 31, 2022. | <sup>1</sup>No longer an affiliate as of December 31, 2022. | <sup>1</sup>No longer an affiliate as of December 31, 2022. |  |

---

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** GPS Funds II

- **b. Investment Company Act file number:** 811-22486

- **c. CIK number of Registrant:** 0001504079

- **d. LEI of Registrant:** 549300EMT7QA1K47T038

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 1655 Grant Street

  - **City:** Concord

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 94520

  - **Telephone number:** 800-664-5345

**Item A.2. Information about the Series.**

- **a. Name of Series:** GuidePath Growth and Income Fund

- **b. EDGAR series identifier (if any):** S000061598

- **c. LEI of Series:** 549300K4BDA4YPO4YN05

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2023-03-31

- **b. Date as of which information is reported:** 2022-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $113527821.22

**Total Liabilities:** $9858839.61

**Net Assets:** $103668981.61

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 274.120000000000 | **1-Year:** 401.560000000000 | **5-Year:** 0.000000000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.000000000000 | **1-Year:** 0.000000000000 | **5-Year:** 0.000000000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000199542 | 7.55%                | 4.15%                | -2.07%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-18727.94               | $6966823.38                                |
| Month 2  | $-27881.40               | $4008465.22                                |
| Month 3  | $835412.13               | $-3711091.31                               |

**Designated Index Information**

- **Index Name:** S&P 500 Total Return Index

- **Index Identifier:** SPTR

### Schedule of Portfolio Investments

| Name                                      | Title                                     | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   | Fair Value Level   | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Aflac Inc                                 | Aflac Inc                                 | CUSIP: 001055102<br>LEI: 549300N0B7DOGLXWPP39 | Long             | EC               | CORP              | US        |      5449 | NS      | $392001.06    | 0.38%             |  |  |  | No            | 1                  | On Loan: No      |
| AT&T Inc                                  | AT&T Inc                                  | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |     21504 | NS      | $395888.64    | 0.38%             |  |  |  | No            | 1                  | On Loan: No      |
| AbbVie Inc                                | AbbVie Inc                                | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |      8582 | NS      | $1386937.02   | 1.34%             |  |  |  | No            | 1                  | On Loan: No      |
| Advance Auto Parts Inc                    | Advance Auto Parts Inc                    | CUSIP: 00751Y106<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | EC               | CORP              | US        |      1863 | NS      | $273916.89    | 0.26%             |  |  |  | No            | 1                  | On Loan: No      |
| Air Products and Chemicals Inc            | Air Products and Chemicals Inc            | CUSIP: 009158106<br>LEI: 7QEON6Y1RL5XR3R1W237 | Long             | EC               | CORP              | US        |      1409 | NS      | $434338.34    | 0.42%             |  |  |  | No            | 1                  | On Loan: No      |
| Ameren Corp                               | Ameren Corp                               | CUSIP: 023608102<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | EC               | CORP              | US        |      3294 | NS      | $292902.48    | 0.28%             |  |  |  | No            | 1                  | On Loan: No      |
| American Electric Power Co Inc            | American Electric Power Co Inc            | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               | CORP              | US        |      2220 | NS      | $210789.00    | 0.20%             |  |  |  | No            | 1                  | On Loan: No      |
| Amgen Inc                                 | Amgen Inc                                 | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |      3048 | NS      | $800526.72    | 0.77%             |  |  |  | No            | 1                  | On Loan: No      |
| Analog Devices Inc                        | Analog Devices Inc                        | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |      1001 | NS      | $164194.03    | 0.16%             |  |  |  | No            | 1                  | On Loan: No      |
| Archer-Daniels-Midland Co                 | Archer-Daniels-Midland Co                 | CUSIP: 039483102<br>LEI: 549300LO13MQ9HYSTR83 | Long             | EC               | CORP              | US        |      2849 | NS      | $264529.65    | 0.26%             |  |  |  | No            | 1                  | On Loan: No      |
| Automatic Data Processing Inc             | Automatic Data Processing Inc             | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |      2021 | NS      | $482736.06    | 0.47%             |  |  |  | No            | 1                  | On Loan: No      |
| Best Buy Co Inc                           | Best Buy Co Inc                           | CUSIP: 086516101<br>LEI: HL5XPTVRV0O8TUN5LL90 | Long             | EC               | CORP              | US        |       945 | NS      | $75798.45     | 0.07%             |  |  |  | No            | 1                  | On Loan: —       |
| BlackRock Inc                             | BlackRock Inc                             | CUSIP: 09247X101<br>LEI: 549300LRIF3NWCU26A80 | Long             | EC               | CORP              | US        |       488 | NS      | $345811.44    | 0.33%             |  |  |  | No            | 1                  | On Loan: No      |
| Blackstone Inc                            | Blackstone Inc                            | CUSIP: 09260D107<br>LEI: 5299004LW4QWGZUB8Y96 | Long             | EC               | CORP              | US        |      3431 | NS      | $254545.89    | 0.25%             |  |  |  | No            | 1                  | On Loan: No      |
| Broadcom Inc                              | Broadcom Inc                              | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |      1964 | NS      | $1098131.32   | 1.06%             |  |  |  | No            | 1                  | On Loan: —       |
| CME Group Inc                             | CME Group Inc                             | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               | CORP              | US        |      1353 | NS      | $227520.48    | 0.22%             |  |  |  | No            | 1                  | On Loan: No      |
| CVS Health Corp                           | CVS Health Corp                           | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |      5295 | NS      | $493441.05    | 0.48%             |  |  |  | No            | 1                  | On Loan: No      |
| Capital One Financial Corp                | Capital One Financial Corp                | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               | CORP              | US        |      3577 | NS      | $332517.92    | 0.32%             |  |  |  | No            | 1                  | On Loan: No      |
| Caterpillar Inc                           | Caterpillar Inc                           | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |      2615 | NS      | $626449.40    | 0.60%             |  |  |  | No            | 1                  | On Loan: No      |
| Cisco Systems Inc                         | Cisco Systems Inc                         | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |     18510 | NS      | $881816.40    | 0.85%             |  |  |  | No            | 1                  | On Loan: No      |
| Citizens Financial Group Inc              | Citizens Financial Group Inc              | CUSIP: 174610105<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EC               | CORP              | US        |      4421 | NS      | $174054.77    | 0.17%             |  |  |  | No            | 1                  | On Loan: No      |
| Coca-Cola Co/The                          | Coca-Cola Co/The                          | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |     19714 | NS      | $1254007.54   | 1.21%             |  |  |  | No            | 1                  | On Loan: No      |
| Colgate-Palmolive Co                      | Colgate-Palmolive Co                      | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |      5800 | NS      | $456982.00    | 0.44%             |  |  |  | No            | 1                  | On Loan: No      |
| Comcast Corp                              | Comcast Corp                              | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |     24623 | NS      | $861066.31    | 0.83%             |  |  |  | No            | 1                  | On Loan: No      |
| Consolidated Edison Inc                   | Consolidated Edison Inc                   | CUSIP: 209115104<br>LEI: 54930033SBW53OO8T749 | Long             | EC               | CORP              | US        |      2221 | NS      | $211683.51    | 0.20%             |  |  |  | No            | 1                  | On Loan: —       |
| Cummins Inc                               | Cummins Inc                               | CUSIP: 231021106<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | EC               | CORP              | US        |      1358 | NS      | $329029.82    | 0.32%             |  |  |  | No            | 1                  | On Loan: No      |
| DTE Energy Co                             | DTE Energy Co                             | CUSIP: 233331107<br>LEI: 549300IX8SD6XXD71I78 | Long             | EC               | CORP              | US        |      1741 | NS      | $204619.73    | 0.20%             |  |  |  | No            | 1                  | On Loan: No      |
| DWS Government Money Market Se            | DWS Government Money Market Series        | CUSIP: 25160K207<br>LEI: N/A                  | Long             | STIV             | RF                | US        |  18219596 | NS      | $18219596.32  | 17.57%            |  |  |  | No            | 1                  | On Loan: No      |
| Emerson Electric Co                       | Emerson Electric Co                       | CUSIP: 291011104<br>LEI: FGLT0EWZSUIRRITFOA30 | Long             | EC               | CORP              | US        |      4907 | NS      | $471366.42    | 0.45%             |  |  |  | No            | 1                  | On Loan: —       |
| Eversource Energy                         | Eversource Energy                         | CUSIP: 30040W108<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | EC               | CORP              | US        |      1023 | NS      | $85768.32     | 0.08%             |  |  |  | No            | 1                  | On Loan: No      |
| General Dynamics Corp                     | General Dynamics Corp                     | CUSIP: 369550108<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | EC               | CORP              | US        |       659 | NS      | $163504.49    | 0.16%             |  |  |  | No            | 1                  | On Loan: No      |
| General Mills Inc                         | General Mills Inc                         | CUSIP: 370334104<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | EC               | CORP              | US        |      4613 | NS      | $386800.05    | 0.37%             |  |  |  | No            | 1                  | On Loan: —       |
| Global X MLP ETF                          | Global X MLP ETF                          | CUSIP: 37954Y343<br>LEI: 5493002HV8507QNNGD19 | Long             | EC               | RF                | US        |    191343 | NS      | $7900552.47   | 7.62%             |  |  |  | No            | 1                  | On Loan: —       |
| HP Inc                                    | HP Inc                                    | CUSIP: 40434L105<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | EC               | CORP              | US        |      7436 | NS      | $199805.32    | 0.19%             |  |  |  | No            | 1                  | On Loan: No      |
| Hartford Financial Services Gr            | Hartford Financial Services Group Inc/The | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |      3371 | NS      | $255622.93    | 0.25%             |  |  |  | No            | 1                  | On Loan: No      |
| Hasbro Inc                                | Hasbro Inc                                | CUSIP: 418056107<br>LEI: 549300NUB6D2R1ITYR45 | Long             | EC               | CORP              | US        |       955 | NS      | $58264.55     | 0.06%             |  |  |  | No            | 1                  | On Loan: No      |
| Home Depot Inc/The                        | Home Depot Inc/The                        | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |      4040 | NS      | $1276074.40   | 1.23%             |  |  |  | No            | 1                  | On Loan: —       |
| Honeywell International Inc               | Honeywell International Inc               | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |      3719 | NS      | $796981.70    | 0.77%             |  |  |  | No            | 1                  | On Loan: No      |
| Huntington Bancshares Inc/OH              | Huntington Bancshares Inc/OH              | CUSIP: 446150104<br>LEI: 549300XTVCVV9I7B5T19 | Long             | EC               | CORP              | US        |     14037 | NS      | $197921.70    | 0.19%             |  |  |  | No            | 1                  | On Loan: —       |
| Illinois Tool Works Inc                   | Illinois Tool Works Inc                   | CUSIP: 452308109<br>LEI: 76NA4I14SZCFAYMNSV04 | Long             | EC               | CORP              | US        |      1175 | NS      | $258852.50    | 0.25%             |  |  |  | No            | 1                  | On Loan: —       |
| Intel Corp                                | Intel Corp                                | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |     16146 | NS      | $426738.78    | 0.41%             |  |  |  | No            | 1                  | On Loan: No      |
| IBM                                       | International Business Machines Corp      | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |      4991 | NS      | $703181.99    | 0.68%             |  |  |  | No            | 1                  | On Loan: —       |
| Johnson & Johnson                         | Johnson & Johnson                         | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |      7595 | NS      | $1341656.75   | 1.29%             |  |  |  | No            | 1                  | On Loan: No      |
| Kimberly-Clark Corp                       | Kimberly-Clark Corp                       | CUSIP: 494368103<br>LEI: MP3J6QPYPGN75NVW2S34 | Long             | EC               | CORP              | US        |      1784 | NS      | $242178.00    | 0.23%             |  |  |  | No            | 1                  | On Loan: No      |
| Kinder Morgan Inc                         | Kinder Morgan Inc                         | CUSIP: 49456B101<br>LEI: 549300WR7IX8XE0TBO16 | Long             | EC               | CORP              | US        |     21596 | NS      | $390455.68    | 0.38%             |  |  |  | No            | 1                  | On Loan: No      |
| Lockheed Martin Corp                      | Lockheed Martin Corp                      | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               | CORP              | US        |       787 | NS      | $382867.63    | 0.37%             |  |  |  | No            | 1                  | On Loan: No      |
| M&T Bank Corp                             | M&T Bank Corp                             | CUSIP: 55261F104<br>LEI: 549300WYXDDBYRASEG81 | Long             | EC               | CORP              | US        |       744 | NS      | $107924.64    | 0.10%             |  |  |  | No            | 1                  | On Loan: —       |
| Marathon Petroleum Corp                   | Marathon Petroleum Corp                   | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |      3909 | NS      | $454968.51    | 0.44%             |  |  |  | No            | 1                  | On Loan: No      |
| McDonald's Corp                           | McDonald's Corp                           | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |      3775 | NS      | $994825.75    | 0.96%             |  |  |  | No            | 1                  | On Loan: No      |
| Merck & Co Inc                            | Merck & Co Inc                            | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |     11859 | NS      | $1315756.05   | 1.27%             |  |  |  | No            | 1                  | On Loan: No      |
| Mondelez International Inc                | Mondelez International Inc                | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |      6215 | NS      | $414229.75    | 0.40%             |  |  |  | No            | 1                  | On Loan: No      |
| PNC Financial Services Group I            | PNC Financial Services Group Inc/The      | CUSIP: 693475105<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EC               | CORP              | US        |      1046 | NS      | $165205.24    | 0.16%             |  |  |  | No            | 1                  | On Loan: —       |
| Paychex Inc                               | Paychex Inc                               | CUSIP: 704326107<br>LEI: 529900K900DW6SUBM174 | Long             | EC               | CORP              | US        |      1494 | NS      | $172646.64    | 0.17%             |  |  |  | No            | 1                  | On Loan: No      |
| PepsiCo Inc                               | PepsiCo Inc                               | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |      6775 | NS      | $1223971.50   | 1.18%             |  |  |  | No            | 1                  | On Loan: No      |
| Pfizer Inc                                | Pfizer Inc                                | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |     19355 | NS      | $991750.20    | 0.96%             |  |  |  | No            | 1                  | On Loan: —       |
| Philip Morris International In            | Philip Morris International Inc           | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |      4195 | NS      | $424575.95    | 0.41%             |  |  |  | No            | 1                  | On Loan: No      |
| T Rowe Price Group Inc                    | T Rowe Price Group Inc                    | CUSIP: 74144T108<br>LEI: 549300SIV6FPS9Y7IH33 | Long             | EC               | CORP              | US        |      1942 | NS      | $211794.52    | 0.20%             |  |  |  | No            | 1                  | On Loan: —       |
| Procter & Gamble Co/The                   | Procter & Gamble Co/The                   | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |      8832 | NS      | $1338577.92   | 1.29%             |  |  |  | No            | 1                  | On Loan: No      |
| QUALCOMM Inc                              | QUALCOMM Inc                              | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |      5578 | NS      | $613245.32    | 0.59%             |  |  |  | No            | 1                  | On Loan: No      |
| Regions Financial Corp                    | Regions Financial Corp                    | CUSIP: 7591EP100<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EC               | CORP              | US        |      9440 | NS      | $203526.40    | 0.20%             |  |  |  | No            | 1                  | On Loan: —       |
| SPDR Bloomberg 1-3 Month T-Bil            | SPDR Bloomberg 1-3 Month T-Bill ETF       | CUSIP: 78468R663<br>LEI: 549300GQCVCME1YJ6B50 | Long             | EC               | RF                | US        |      8291 | NS      | $758377.77    | 0.73%             |  |  |  | No            | 1                  | On Loan: —       |
| Sempra Energy                             | Sempra Energy                             | CUSIP: 816851109<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EC               | CORP              | US        |      1922 | NS      | $297025.88    | 0.29%             |  |  |  | No            | 1                  | On Loan: No      |
| Starbucks Corp                            | Starbucks Corp                            | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               | CORP              | US        |      4693 | NS      | $465545.60    | 0.45%             |  |  |  | No            | 1                  | On Loan: No      |
| State Street Corp                         | State Street Corp                         | CUSIP: 857477103<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EC               | CORP              | US        |      3843 | NS      | $298101.51    | 0.29%             |  |  |  | No            | 1                  | On Loan: No      |
| Synchrony Financial                       | Synchrony Financial                       | CUSIP: 87165B103<br>LEI: 549300RS7EWPM9MA6C78 | Long             | EC               | CORP              | US        |      6028 | NS      | $198080.08    | 0.19%             |  |  |  | No            | 1                  | On Loan: No      |
| Target Corp                               | Target Corp                               | CUSIP: 87612E106<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | EC               | CORP              | US        |      2739 | NS      | $408220.56    | 0.39%             |  |  |  | No            | 1                  | On Loan: —       |
| Texas Instruments Inc                     | Texas Instruments Inc                     | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |      4409 | NS      | $728454.98    | 0.70%             |  |  |  | No            | 1                  | On Loan: No      |
| 3M Co                                     | 3M Co                                     | CUSIP: 88579Y101<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | EC               | CORP              | US        |      4777 | NS      | $572857.84    | 0.55%             |  |  |  | No            | 1                  | On Loan: No      |
| Travelers Cos Inc/The                     | Travelers Cos Inc/The                     | CUSIP: 89417E109<br>LEI: 549300Y650407RU8B149 | Long             | EC               | CORP              | US        |       921 | NS      | $172678.29    | 0.17%             |  |  |  | No            | 1                  | On Loan: No      |
| Truist Financial Corp                     | Truist Financial Corp                     | CUSIP: 89832Q109<br>LEI: 549300DRQQI75D2JP341 | Long             | EC               | CORP              | US        |      6630 | NS      | $285288.90    | 0.28%             |  |  |  | No            | 1                  | On Loan: No      |
| US Bancorp                                | US Bancorp                                | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |      4432 | NS      | $193279.52    | 0.19%             |  |  |  | No            | 1                  | On Loan: No      |
| Union Pacific Corp                        | Union Pacific Corp                        | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |      1905 | NS      | $394468.35    | 0.38%             |  |  |  | No            | 1                  | On Loan: No      |
| United Parcel Service Inc                 | United Parcel Service Inc                 | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |      2972 | NS      | $516652.48    | 0.50%             |  |  |  | No            | 1                  | On Loan: No      |
| TREASURY BILL                             | United States Treasury Bill               | CUSIP: 912796X53<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3000000 | PA      | $2939591.52   | 2.84%             | 2023-06-15      | Fixed         | 0.00%                 | No            | 2                  | On Loan: No      |
| US TREASURY N/B                           | United States Treasury Note/Bond          | CUSIP: 9128284D9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3000000 | PA      | $2985966.12   | 2.88%             | 2023-03-31      | Fixed         | 2.50%                 | No            | 2                  | On Loan: No      |
| US TREASURY N/B                           | United States Treasury Note/Bond          | CUSIP: 912828T26<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3000000 | PA      | $2926993.50   | 2.82%             | 2023-09-30      | Fixed         | 1.38%                 | No            | 2                  | On Loan: No      |
| US TREASURY N/B                           | United States Treasury Note/Bond          | CUSIP: 91282CDM0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3000000 | PA      | $2886455.76   | 2.78%             | 2023-11-30      | Fixed         | 0.50%                 | No            | 2                  | On Loan: No      |
| Vanguard High Dividend Yield E            | Vanguard High Dividend Yield ETF          | CUSIP: 921946406<br>LEI: N/A                  | Long             | EC               | RF                | US        |    267248 | NS      | $28918906.08  | 27.90%            |  |  |  | No            | 1                  | On Loan: No      |
| Verizon Communications Inc                | Verizon Communications Inc                | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |     20682 | NS      | $814870.80    | 0.79%             |  |  |  | No            | 1                  | On Loan: No      |
| Paramount Global                          | Paramount Global                          | CUSIP: 92556H206<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | EC               | CORP              | US        |      7922 | NS      | $133723.36    | 0.13%             |  |  |  | No            | 1                  | On Loan: —       |
| Whirlpool Corp                            | Whirlpool Corp                            | CUSIP: 963320106<br>LEI: WHENKOULSSK7WUM60H03 | Long             | EC               | CORP              | US        |       889 | NS      | $125757.94    | 0.12%             |  |  |  | No            | 1                  | On Loan: —       |
| Xcel Energy Inc                           | Xcel Energy Inc                           | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               | CORP              | US        |      4363 | NS      | $305889.93    | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| Mount Vernon Liquid Assets Portfolio, LLC | Mount Vernon Liquid Assets Portfolio, LLC | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |   8706335 | NS      | $8706335.25   | 8.40%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A                                       | S&P500 EMINI FUT  Mar23                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -42 | NC      | $407967.00    | 0.39%             |  |  |  | No            | 1                  | On Loan: No      |
| Eaton Corp PLC                            | Eaton Corp PLC                            | CUSIP: N/A<br>LEI: 549300VDIGTMXUNT7H71       | Long             | EC               | CORP              | US        |      3096 | NS      | $485917.20    | 0.47%             |  |  |  | No            | 1                  | On Loan: No      |
| Johnson Controls International            | Johnson Controls International plc        | CUSIP: N/A<br>LEI: 549300XQ6S1GYKGBL205       | Long             | EC               | CORP              | US        |      4440 | NS      | $284160.00    | 0.27%             |  |  |  | No            | 1                  | On Loan: No      |
| Medtronic PLC                             | Medtronic PLC                             | CUSIP: N/A<br>LEI: 549300GX3ZBSQWUXY261       | Long             | EC               | CORP              | IE        |      5598 | NS      | $435076.56    | 0.42%             |  |  |  | No            | 1                  | On Loan: —       |
| LyondellBasell Industries NV              | LyondellBasell Industries NV              | CUSIP: N/A<br>LEI: BN6WCCZ8OVP3ITUUVN49       | Long             | EC               | CORP              | US        |      4128 | NS      | $342747.84    | 0.33%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                       | CBOE S&P PUT OPT 01/23 3830               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -15 | NC      | $-97695.00    | -0.09%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                       | CBOE S&P PUT OPT 01/23 3890               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -10 | NC      | $-104000.00   | -0.10%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                       | CBOE S&P PUT OPT 01/23 3800               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -10 | NC      | $-46000.00    | -0.04%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                       | CBOE S&P PUT OPT 01/23 3875               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -10 | NC      | $-110550.00   | -0.11%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A                                       | S&P DOW  PUT OPT 02/23 3875               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -10 | NC      | $-109950.00   | -0.11%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A                                       | S&P DOW  PUT OPT 02/23 3800               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -10 | NC      | $-88920.00    | -0.09%            |  |  |  | No            | 1                  | On Loan: No      |

### Signature

**Date Signed:** 2023-02-24

**Name of Applicant:** GPS Funds II

**Signature:** /s/ Patrick Young

**Name of Signer:** Patrick Young

**Title:** Principal Financial Officer/Treasurer