# EDGAR Filing Document

**Accession Number:** 0001504079
**File Stem:** 0001145549-23-011421
**Filing Date:** 2023-2
**Character Count:** 77265
**Document Hash:** ca762aa5b465265473abcbdff19b0443
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-011421.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001145549-23-011421

**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:** 23674351

**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) Conservative Allocation Fund (Series ID: S000030982)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000096031 | Service Shares       | GPTCX           |
| C000096032 | Institutional Shares | GITTX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **GuidePath® Conservative Allocation Fund** | **GuidePath® Conservative Allocation Fund** | |
| **Schedule of Investments (Unaudited)** | **Schedule of Investments (Unaudited)** | |
| **December 31, 2022** | **December 31, 2022** | |
| **Number of Shares** |  | **Value** |
| | **INVESTMENT COMPANIES - 98.85%** | |
| | **Alternative Funds - 1.81%** | |
| 198335 | SPDR Gold MiniShares Trust (a)(b) | $7177744 |
|  | **Domestic Equity Funds - 22.15%** |  |
| 202836 | American Funds - Mutual Fund - Class F3 | 9817256 |
| 189204 | American Funds - Washington Mutual Investors Fund - Class F3 | 9829132 |
| 132079 | iShares Core S&P Small-Cap ETF | 12499957 |
| 136143 | iShares Edge MSCI Min Vol USA ETF | 9815910 |
| 90804 | Vanguard High Dividend Yield ETF | 9825901 |
| 59195 | Vanguard S&P 500 ETF | 20797571 |
| 109486 | Vanguard Value ETF (a) | 15368550 |
|  |  | 87954277 |
|  | **Domestic Fixed Income Funds - 46.14%** |  |
| 1088465 | American Funds - High-Income Trust - Class F3 | 9861495 |
| 1758957 | American Funds - Multi-Sector Income Fund - Class F3 | 15742663 |
| 1381222 | American Funds - The Bond Fund of America - Class F3 | 15718310 |
| 132210 | iShares 7-10 Year Treasury Bond ETF (a) | 12663074 |
| 57342 | iShares 10+ Year Investment Grade Corporate Bond ETF (a) | 2855058 |
| 247307 | iShares Broad USD High Yield Corporate Bond ETF | 8539511 |
| 161731 | iShares Core U.S. Aggregate Bond ETF | 15686290 |
| 25426 | iShares iBoxx High Yield Corporate Bond ETF | 1872116 |
| 41753 | iShares TIPS Bond ETF (a) | 4444189 |
| 182556 | iShares U.S. Credit Bond ETF | 8965325 |
| 1063113 | SPDR Portfolio Short Term Treasury ETF | 30713334 |
| 5749700 | Vanguard High-Yield Corporate Fund - Admiral Shares | 29610953 |
| 60876 | Vanguard Intermediate-Term Corporate Bond ETF | 4718499 |
| 134947 | Vanguard Long-Term Treasury ETF | 8315434 |
| 235547 | Vanguard Mortgage-Backed Securities ETF | 10722099 |
| 20881 | Vanguard Short-Term Corporate Bond ETF | 1570042 |
| 16551 | Vanguard Total Bond Market ETF | 1189024 |
|  |  | 183187416 |
|  | **Hybrid Funds - 18.04%** |  |
| 296079 | American Funds - Capital Income Builder - Class F3 | 18638196 |
| 825442 | American Funds - The Income Fund of America - Class F3 | 18663247 |
| 311628 | iShares Core Aggressive Allocation ETF | 18619773 |
| 333542 | iShares Core Growth Allocation ETF (a) | 15729841 |
|  |  | 71651057 |
|  | **International Equity Funds - 8.39%** |  |
| 142832 | iShares Core MSCI Emerging Markets ETF | 6670254 |
| 58468 | iShares Core MSCI Europe ETF (a) | 2777230 |
| 45305 | iShares MSCI EAFE Min Vol Factor ETF | 2880718 |
| 100060 | iShares MSCI Switzerland ETF | 4195516 |
| 53168 | JPMorgan Beta Builders Canada ETF | 3045995 |
| 327751 | Vanguard FTSE Developed Markets ETF (a) | 13755709 |
|  |  | 33325422 |
|  | **International Fixed Income Funds - 1.29%** |  |
| 28559 | iShares J.P. Morgan USD Emerging Markets Bond ETF | 2415806 |
| 51025 | SPDR Bloomberg Barclays International Treasury Bond ETF | 1144491 |
| 33020 | Vanguard Total International Bond ETF (a) | 1566139 |
|  |  | 5126436 |
|  | **Real Estate Funds - 1.03%** |  |
| 26373 | Vanguard Global ex-U.S. Real Estate ETF | 1090260 |
| 36169 | Vanguard Real Estate ETF (a) | 2983219 |
|  |  | 4073479 |
|  | **Total Investment Companies (Cost $378,557,822)** | **392495831** |
|  | **SHORT TERM INVESTMENTS - 0.00% (d)** |  |
|  | **Money Market Funds - 0.00%** |  |
| 922 | DWS Government Money Market Series - Institutional Shares |  |
|  | Effective Yield, 4.22% (c) | 922 |
|  | **Total Short Term Investments (Cost $922)** | **922** |
| **Number of Units** |  |  |
|  | **INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING COLLATERAL - 9.40%** |  |
| 37341365 | Mount Vernon Liquid Assets Portfolio, LLC |  |
|  | Effective Yield, 4.49% (c) | 37341365 |
|  | **Total Investments Purchased with Proceeds from Securities Lending Collateral (Cost $37,341,365)** | **37341365** |
|  | **Total Investments (Cost $415,900,109) - 108.25%** | **429838118** |
|  | **Liabilities in Excess of Other Assets - (8.25)%** | **(32769219)** |
|  | **TOTAL NET ASSETS - 100.00%** | $**397068899** |
| 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) | Non-income producing security. |  |
| (c) | Seven-day yield as of December 31, 2022 |  |
| (d) | Less than 0.01%. |  |

---

## 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. |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **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 Conservative Allocation Fund

- **b. EDGAR series identifier (if any):** S000030982

- **c. LEI of Series:** 254900OQ2TOAB0E95E73

**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:** $442143202.39

**Total Liabilities:** $45074138.78

**Net Assets:** $397069063.61

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000096031 | 3.46%                | 5.28%                | -2.04%               |
| Class ID C000096032 | 3.50%                | 5.30%                | -2.00%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-287870.99              | $12841490.47                               |
| Month 2  | $-1770161.01             | $21879792.18                               |
| Month 3  | $1041461.63              | $-11878798.14                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Capital Income Builder Inc                | Capital Income Builder Inc                            | CUSIP: 140193780<br>LEI: HB3628X2G8I5EW1FVP36 | Long             | EC               | RF                | US        |    307474 | NS      | $19355505.01  | 4.87%             |  |  |  | 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        |   4569532 | NS      | $4569532.37   | 1.15%             |  |  |  | No            | 1                  | On Loan: No      |
| Income Fund of America/The                | Income Fund of America/The                            | CUSIP: 453320772<br>LEI: TOHHXZTHT2ER8SHT3X45 | Long             | EC               | RF                | US        |    851822 | NS      | $19259684.64  | 4.85%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares MSCI Switzerland ETF              | iShares MSCI Switzerland ETF                          | CUSIP: 464286749<br>LEI: 549300WB2EJ9RDFN4R78 | Long             | EC               | RF                | US        |    103217 | NS      | $4327888.81   | 1.09%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares TIPS Bond ETF                     | iShares TIPS Bond ETF                                 | CUSIP: 464287176<br>LEI: 549300EHD1VQKMRQ0829 | Long             | EC               | RF                | US        |     42384 | NS      | $4511352.96   | 1.14%             |  |  |  | No            | 1                  | On Loan: —       |
| iShares Core U.S. Aggregate Bo            | iShares Core U.S. Aggregate Bond ETF                  | CUSIP: 464287226<br>LEI: 549300F7VSXTKBGHJE47 | Long             | EC               | RF                | US        |    164784 | NS      | $15982400.16  | 4.03%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares 7-10 Year Treasury Bon            | iShares 7-10 Year Treasury Bond ETF                   | CUSIP: 464287440<br>LEI: 549300XS1PPZG92M8L16 | Long             | EC               | RF                | US        |    133525 | NS      | $12789024.50  | 3.22%             |  |  |  | No            | 1                  | On Loan: —       |
| iShares Core S&P Small-Cap ETF            | iShares Core S&P Small-Cap ETF                        | CUSIP: 464287804<br>LEI: 549300BZQ17QYN750B25 | Long             | EC               | RF                | US        |    128673 | NS      | $12177612.72  | 3.07%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares JP Morgan USD Emerging            | iShares JP Morgan USD Emerging Markets Bond ETF       | CUSIP: 464288281<br>LEI: 54930070R8WH6MNUJG74 | Long             | EC               | RF                | US        |     29347 | NS      | $2482462.73   | 0.63%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares iBoxx High Yield Corpo            | iShares iBoxx High Yield Corporate Bond ETF           | CUSIP: 464288513<br>LEI: N/A                  | Long             | EC               | RF                | US        |     25658 | NS      | $1889198.54   | 0.48%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares Broad USD Investment G            | iShares Broad USD Investment Grade Corporate Bond ETF | CUSIP: 464288620<br>LEI: 5493004QFMCNV0WLX398 | Long             | EC               | RF                | US        |    186494 | NS      | $9158720.34   | 2.31%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares 10+ Year Investment Gr            | iShares 10+ Year Investment Grade Corporate Bond ETF  | CUSIP: 464289511<br>LEI: 5493002XJCHL78PKW767 | Long             | EC               | RF                | US        |     58786 | NS      | $2926954.94   | 0.74%             |  |  |  | No            | 1                  | On Loan: —       |
| iShares Core Aggressive Alloca            | iShares Core Aggressive Allocation ETF                | CUSIP: 464289859<br>LEI: 549300E2532X6GS7V091 | Long             | EC               | RF                | US        |    313765 | NS      | $18747458.75  | 4.72%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares Core Growth Allocation            | iShares Core Growth Allocation ETF                    | CUSIP: 464289867<br>LEI: N/A                  | Long             | EC               | RF                | US        |    336864 | NS      | $15886506.24  | 4.00%             |  |  |  | No            | 1                  | On Loan: —       |
| iShares MSCI EAFE Min Vol Fact            | iShares MSCI EAFE Min Vol Factor ETF                  | CUSIP: 46429B689<br>LEI: 549300N5K4JSWEZ74544 | Long             | EC               | RF                | US        |     47249 | NS      | $3004327.67   | 0.76%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares MSCI USA Min Vol Facto            | iShares MSCI USA Min Vol Factor ETF                   | CUSIP: 46429B697<br>LEI: 54930006KUZN6GLGL496 | Long             | EC               | RF                | US        |    139298 | NS      | $10043385.80  | 2.53%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares Core MSCI Emerging Mar            | iShares Core MSCI Emerging Markets ETF                | CUSIP: 46434G103<br>LEI: 5493007C24Z3ZDJ0VD06 | Long             | EC               | RF                | US        |    147138 | NS      | $6871344.60   | 1.73%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares Core MSCI Europe ETF              | iShares Core MSCI Europe ETF                          | CUSIP: 46434V738<br>LEI: 549300XU2KDV0C5LCG21 | Long             | EC               | RF                | US        |     60929 | NS      | $2894127.50   | 0.73%             |  |  |  | No            | 1                  | On Loan: —       |
| iShares Broad USD High Yield C            | iShares Broad USD High Yield Corporate Bond ETF       | CUSIP: 46435U853<br>LEI: 549300X7H67ZLUE3IZ46 | Long             | EC               | RF                | US        |    250060 | NS      | $8634571.80   | 2.17%             |  |  |  | No            | 1                  | On Loan: No      |
| JPMorgan BetaBuilders Canada E            | JPMorgan BetaBuilders Canada ETF                      | CUSIP: 46641Q225<br>LEI: 5493001KDPNCCHEX2345 | Long             | EC               | RF                | US        |     51876 | NS      | $2971976.04   | 0.75%             |  |  |  | No            | 1                  | On Loan: No      |
| SPDR Bloomberg International T            | SPDR Bloomberg International Treasury Bond ETF        | CUSIP: 78464A516<br>LEI: 549300XTV2KNHC0UDP69 | Long             | EC               | RF                | US        |     52788 | NS      | $1184034.84   | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| SPDR Portfolio Short Term Trea            | SPDR Portfolio Short Term Treasury ETF                | CUSIP: 78468R101<br>LEI: 549300CVHDNMTIUMZ693 | Long             | EC               | RF                | US        |   1083917 | NS      | $31314362.13  | 7.89%             |  |  |  | No            | 1                  | On Loan: No      |
| Vanguard Total Bond Market ETF            | Vanguard Total Bond Market ETF                        | CUSIP: 921937835<br>LEI: N/A                  | Long             | EC               | RF                | US        |     16877 | NS      | $1212443.68   | 0.31%             |  |  |  | No            | 1                  | On Loan: No      |
| American Funds Multi-Sector In            | American Funds Multi-Sector Income Fund               | CUSIP: 02631W607<br>LEI: 549300J5Z0VG84MLRB27 | Long             | EC               | RF                | US        |   1800682 | NS      | $16116103.79  | 4.06%             |  |  |  | No            | 1                  | On Loan: No      |
| American High-Income Trust                | American High-Income Trust                            | CUSIP: 026547778<br>LEI: WRWMC5QCF7WNXYIQUK76 | Long             | EC               | RF                | US        |   1108361 | NS      | $10041747.37  | 2.53%             |  |  |  | No            | 1                  | On Loan: No      |
| American Mutual Fund                      | American Mutual Fund                                  | CUSIP: 027681774<br>LEI: QURFUUOMKQ61ME3JJZ05 | Long             | EC               | RF                | US        |    207199 | NS      | $10028432.98  | 2.53%             |  |  |  | No            | 1                  | On Loan: No      |
| Bond Fund of America/The                  | Bond Fund of America/The                              | CUSIP: 097873772<br>LEI: F2Q0NH642XF1RP5YCC95 | Long             | EC               | RF                | US        |   1412635 | NS      | $16075790.74  | 4.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Vanguard FTSE Developed Market            | Vanguard FTSE Developed Markets ETF                   | CUSIP: 921943858<br>LEI: N/A                  | Long             | EC               | RF                | US        |    336265 | NS      | $14113042.05  | 3.55%             |  |  |  | No            | 1                  | On Loan: —       |
| Vanguard High Dividend Yield E            | Vanguard High Dividend Yield ETF                      | CUSIP: 921946406<br>LEI: N/A                  | Long             | EC               | RF                | US        |     91723 | NS      | $9925345.83   | 2.50%             |  |  |  | No            | 1                  | On Loan: No      |
| Vanguard High-Yield Corporate             | Vanguard High-Yield Corporate Fund                    | CUSIP: 922031760<br>LEI: MSRINVBKWZXRZ70AVU36 | Long             | EC               | RF                | US        |   5872916 | NS      | $30245518.71  | 7.62%             |  |  |  | No            | 1                  | On Loan: No      |
| Vanguard Total International B            | Vanguard Total International Bond ETF                 | CUSIP: 92203J407<br>LEI: N/A                  | Long             | EC               | RF                | US        |     32918 | NS      | $1561300.74   | 0.39%             |  |  |  | No            | 1                  | On Loan: —       |
| Vanguard Global ex-U.S. Real E            | Vanguard Global ex-U.S. Real Estate ETF               | CUSIP: 922042676<br>LEI: N/A                  | Long             | EC               | RF                | US        |     27142 | NS      | $1122050.28   | 0.28%             |  |  |  | No            | 1                  | On Loan: No      |
| Vanguard Short-Term Corporate             | Vanguard Short-Term Corporate Bond ETF                | CUSIP: 92206C409<br>LEI: N/A                  | Long             | EC               | RF                | US        |     21330 | NS      | $1603802.70   | 0.40%             |  |  |  | No            | 1                  | On Loan: No      |
| Vanguard Mortgage-Backed Secur            | Vanguard Mortgage-Backed Securities ETF               | CUSIP: 92206C771<br>LEI: N/A                  | Long             | EC               | RF                | US        |    240448 | NS      | $10945192.96  | 2.76%             |  |  |  | No            | 1                  | On Loan: No      |
| Vanguard Long-Term Treasury ET            | Vanguard Long-Term Treasury ETF                       | CUSIP: 92206C847<br>LEI: N/A                  | Long             | EC               | RF                | US        |    136846 | NS      | $8432450.52   | 2.12%             |  |  |  | No            | 1                  | On Loan: No      |
| Vanguard Intermediate-Term Cor            | Vanguard Intermediate-Term Corporate Bond ETF         | CUSIP: 92206C870<br>LEI: N/A                  | Long             | EC               | RF                | US        |     61905 | NS      | $4798256.55   | 1.21%             |  |  |  | No            | 1                  | On Loan: No      |
| Vanguard S&P 500 ETF                      | Vanguard S&P 500 ETF                                  | CUSIP: 922908363<br>LEI: N/A                  | Long             | EC               | RF                | US        |     58490 | NS      | $20549876.60  | 5.18%             |  |  |  | No            | 1                  | On Loan: No      |
| Vanguard Real Estate ETF                  | Vanguard Real Estate ETF                              | CUSIP: 922908553<br>LEI: N/A                  | Long             | EC               | RF                | US        |     36045 | NS      | $2972991.60   | 0.75%             |  |  |  | No            | 1                  | On Loan: —       |
| Vanguard Value ETF                        | Vanguard Value ETF                                    | CUSIP: 922908744<br>LEI: N/A                  | Long             | EC               | RF                | US        |    111298 | NS      | $15622900.26  | 3.93%             |  |  |  | No            | 1                  | On Loan: —       |
| Washington Mutual Investors Fu            | Washington Mutual Investors Fund                      | CUSIP: 939330775<br>LEI: GMJOUC23TOBOTKRA5C67 | Long             | EC               | RF                | US        |    193399 | NS      | $10047075.04  | 2.53%             |  |  |  | No            | 1                  | On Loan: No      |
| SPDR Gold MiniShares Trust                | SPDR Gold MiniShares Trust                            | CUSIP: 98149E303<br>LEI: 5493002IEEMEY6LRJ932 | Long             | EC               | RF                | US        |    206823 | NS      | $7484924.37   | 1.89%             |  |  |  | No            | 1                  | On Loan: —       |
| Mount Vernon Liquid Assets Portfolio, LLC | Mount Vernon Liquid Assets Portfolio, LLC             | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |  37341365 | NS      | $37341365.00  | 9.40%             |  |  |  | No            | N/A                | 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