GPS Funds II NPORT-P GuidePath Growth and Income Fund (Dec 2019 report)

GuidePath® Growth and Income Fund
Schedule of Investments (Unaudited)
December 31, 2019
Number of Shares			Value
		COMMON STOCKS - 34.71%
		Aerospace & Defense - 0.95%
	864	Boeing Co.	$	281,456
	131	Lockheed Martin Corp.		51,009
				332,465
		Air Freight & Logistics - 0.50%
	1,510	United Parcel Service, Inc. - Class B (a)		176,761
		Auto Components - 0.08%
	319	Autoliv, Inc.		26,927
		Banks - 1.58%
	1,828	Citizens Financial Group, Inc.		74,235
	1,917	East West Bancorp, Inc.		93,358
	3,474	Regions Financial Corp.		59,614
	2,690	Truist Financial Corp.		151,501
	2,941	U.S. Bancorp		174,371
				553,079
		Beverages - 2.18%
	6,929	Coca-Cola Co.		383,520
	2,790	PepsiCo, Inc.		381,309
				764,829
		Biotechnology - 2.09%
	3,070	AbbVie, Inc. (a)		271,818
	1,227	Amgen, Inc.		295,792
	2,563	Gilead Sciences, Inc.		166,544
				734,154
		Capital Markets - 1.02%
	266	BlackRock, Inc.		133,718
	588	CME Group, Inc.		118,023
	535	State Street Corp. (a)		42,319
	521	T. Rowe Price Group, Inc.		63,479
				357,539
		Chemicals - 0.38%
	182	Air Products & Chemicals, Inc.		42,768
	983	LyondellBasell Industries NV - Class A		92,873
				135,641
		Communications Equipment - 0.98%
	7,125	Cisco Systems, Inc.		341,715
		Consumer Finance - 0.17%
	1,677	Synchrony Financial		60,389
		Containers & Packaging - 0.17%
	1,274	International Paper Co.		58,668
		Diversified Telecommunication Services - 2.33%
	12,567	AT&T, Inc.		491,119
	5,301	Verizon Communications, Inc.		325,481
				816,600
		Electric Utilities - 1.61%
	804	American Electric Power Co., Inc.		75,986
	1,562	Duke Energy Corp.		142,470
	533	Eversource Energy		45,342
	668	NextEra Energy, Inc.		161,763
	2,561	PPL Corp.		91,889
	745	Xcel Energy, Inc. (a)		47,300
				564,750
		Electrical Equipment - 0.64%
	1,193	Eaton Corp. PLC		113,001
	1,447	Emerson Electric Co.		110,348
				223,349
		Electronic Equipment, Instruments & Components - 0.14%
	1,706	Corning, Inc.		49,662
		Food & Staples Retailing - 0.49%
	837	Sysco Corp.		71,597
	1,701	Walgreens Boots Alliance, Inc.		100,291
				171,888
		Food Products - 0.43%
	1,375	Archer-Daniels-Midland Co.		63,731
	1,625	General Mills, Inc.		87,035
				150,766
		Health Care Providers & Services - 0.52%
	2,449	CVS Health Corp.		181,936
		Hotels, Restaurants & Leisure - 1.17%
	821	Carnival Corp.		41,731
	1,042	Las Vegas Sands Corp.		71,940
	1,529	McDonald's Corp.		302,145
				415,816
		Household Products - 1.99%
	1,897	Colgate-Palmolive Co.		130,589
	609	Kimberly-Clark Corp.		83,768
	3,886	Procter & Gamble Co.		485,362
				699,719
		Industrial Conglomerates - 0.55%
	1,093	3M Co.		192,827
		Insurance - 0.38%
	1,914	Aflac, Inc.		101,250
	247	Travelers Cos., Inc.		33,827
				135,077
		IT Services - 0.77%
	1,680	International Business Machines Corp.		225,187
	550	Paychex, Inc.		46,783
				271,970
		Leisure Products - 0.18%
	582	Hasbro, Inc.		61,465
		Machinery - 0.43%
	109	Cummins, Inc.		19,507
	313	Illinois Tool Works, Inc.		56,224
	967	PACCAR, Inc.		76,490
				152,221
		Metals & Mining - 0.15%
	920	NUCOR Corp.		51,778
		Multiline Retail - 0.51%
	572	Kohl's Corp.		29,143
	1,168	Target Corp.		149,750
				178,893
		Multi-Utilities - 0.71%
	547	Consolidated Edison, Inc.		49,487
	223	DTE Energy Co. (a)		28,961
	1,262	Public Service Enterprise Group, Inc.		74,521
	308	Sempra Energy		46,656
	540	WEC Energy Group, Inc.		49,804
				249,429
		Oil, Gas & Consumable Fuels - 1.97%
	6,037	Exxon Mobil Corp. (a)		421,261
	1,395	Marathon Petroleum Corp.		84,049
	899	Phillips 66		100,158
	925	Valero Energy Corp. (a)		86,626
				692,094
		Pharmaceuticals - 4.34%
	3,464	Bristol-Myers Squibb Co. (a)		222,354
	3,426	Johnson & Johnson (a)		499,752
	4,633	Merck & Co., Inc.		421,371
	9,742	Pfizer, Inc.		381,692
				1,525,169
		Semiconductors & Semiconductor Equipment - 2.63%
	457	Analog Devices, Inc. (a)		54,310
	651	Broadcom, Inc. (a)		205,729
	7,136	Intel Corp. (a)		427,090
	1,822	Texas Instruments, Inc.		233,744
				920,873
		Specialty Retail - 1.14%
	380	Best Buy Co., Inc.		33,364
	1,674	Home Depot Inc.		365,568
				398,932
		Technology Hardware, Storage & Peripherals - 0.21%
	3,615	HP, Inc.		74,288
		Textiles, Apparel & Luxury Goods - 0.15%
	516	VF Corp.		51,425
		Tobacco - 1.17%
	3,491	Altria Group, Inc.		174,236
	2,767	Philip Morris International, Inc.		235,444
				409,680
		Total Common Stocks (Cost $11,399,407)		12,182,774
		INVESTMENT COMPANIES - 35.25%
		Exchange Traded Funds - 35.25%
	158,858	Schwab U.S. Large-Cap ETF (a)		12,201,883
	1,858	SPDR Bloomberg Barclays 1-3 Month T-Bill ETF		169,877
				12,371,760
		Total Investment Companies (Cost $11,584,984)		12,371,760
		SHORT TERM INVESTMENTS - 15.28%
		Money Market Funds - 15.28%
	5,362,432	DWS Government Money Market Series - Institutional Shares
		Effective Yield, 1.55% (b)		5,362,432
		Total Short Term Investments (Cost $5,362,432)		5,362,432
Principal
Amount
		U.S. TREASURY OBLIGATIONS - 14.27%
		U.S. Treasury Notes
$	1,250,000	1.625%, 03/15/2020		1,249,927
	1,250,000	1.500%, 06/15/2020		1,249,609
	1,250,000	1.375%, 09/15/2020		1,247,803
	1,250,000	2.500%, 12/31/2020		1,260,571
		Total U.S. Treasury Obligations (Cost $5,004,937)		5,007,910
		INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 8.61%
		Investments Purchased with Proceeds from Securities Lending - 8.61%
	3,022,522	Mount Vernon Liquid Assets Portfolio, LLC
		Effective Yield, 1.80% (b)		3,022,522
		Total Investments Purchased with Proceeds from Securities Lending (Cost $3,022,522)		3,022,522
		Total Investments (Cost $36,374,282) - 108.12%		37,947,398
		Liabilities in Excess of Other Assets - (8.12)%		(2,848,941	)
		TOTAL NET ASSETS - 100.00%	$	35,098,457
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, 2019.

GuidePath^® Growth and Income Fund

Schedule of Open Futures Contracts (Unaudited)

December 31, 2019

Description	Number of Contracts Purchased / (Sold)		Notional Value		Settlement Month	Value/ Unrealized Appreciation (Depreciation)
E-mini S&P 500 Futures		53	$	8,562,415	Mar-20	$	98,117
						$	98,117

GuidePath® Growth and Income Fund
Schedule of Options Written (Unaudited)
December 31, 2019
		Options on Equities
Notional Amount		Put Options	Value
	644,000	CBOE S&P 500 Index
		Counterparty: NatWest Market Securities
		Expiration: January, 2020
		Exercise Price: $3,210.00	$	8,618
	322,000	CBOE S&P 500 Index
		Counterparty: NatWest Market Securities
		Expiration: January, 2020
		Exercise Price: $3,130.00		510
	644,000	CBOE S&P 500 Index
		Counterparty: NatWest Market Securities
		Expiration: January, 2020
		Exercise Price: $3,160.00		1,560
	644,000	CBOE S&P 500 Index
		Counterparty: NatWest Market Securities
		Expiration: January, 2020
		Exercise Price: $3,190.00		2,040
	966,000	CBOE S&P 500 Index
		Counterparty: NatWest Market Securities
		Expiration: January, 2020
		Exercise Price: $3,190.00		7,503
	966,000	CBOE S&P 500 Index
		Counterparty: NatWest Market Securities
		Expiration: January, 2020
		Exercise Price: $3,200.00		8,739
	322,000	CBOE S&P 500 Index
		Counterparty: NatWest Market Securities
		Expiration: January, 2020
		Exercise Price: $3,220.00		3,279
	644,000	CBOE S&P 500 Index
		Counterparty: NatWest Market Securities
		Expiration: January, 2020
		Exercise Price: $3,220.00		8,260
	322,000	CBOE S&P 500 Index
		Counterparty: NatWest Market Securities
		Expiration: February, 2020
		Exercise Price: $3,210.00		4,909
	1,938,000	S&P 500 Index
		Counterparty: NatWest Market Securities
		Expiration: January, 2020
		Exercise Price: $3,190.00		10,290
	640,000	S&P 500 Index
		Counterparty: NatWest Market Securities
		Expiration: January, 2020
		Exercise Price: $3,200.00		3,744
	644,000	S&P 500 Index
		Counterparty: NatWest Market Securities
		Expiration: January, 2020
		Exercise Price: $3,220.00		4,754
		Total Written Options (Premiums Received $91,998)		64,206