GPS Funds II NPORT-P GuidePath Tactical Allocation Fund (Dec 2019 report)

GuidePath® Tactical Allocation Fund
Schedule of Investments (Unaudited)
December 31, 2019
Number of Shares			Value
		COMMON STOCKS - 61.66%
		Biotechnology - 0.70%
	25,629	Alexion Pharmaceuticals, Inc. (b)	$	2,771,776
		Capital Markets - 7.58%
	19,334	FactSet Research Systems, Inc. (a)		5,187,312
	171,500	Interactive Brokers Group, Inc. - Class A (a)		7,995,330
	25,275	MarketAxess Holdings, Inc.		9,582,005
	13,883	Moody's Corp. (a)		3,295,963
	13,946	S&P Global, Inc.		3,807,956
				29,868,566
		Chemicals - 2.27%
	84,145	Scotts Miracle Grow Co.		8,934,516
		Consumer Finance - 0.69%
	75,415	Synchrony Financial		2,715,694
		Containers & Packaging - 0.72%
	91,736	Silgan Holdings, Inc.		2,851,155
		Diversified Financial Services - 0.78%
	50,194	Voya Financial, Inc.		3,060,830
		Electric Utilities - 6.99%
	88,135	Avangrid, Inc.		4,508,987
	41,529	Edison International (a)		3,131,702
	41,613	Entergy Corp.		4,985,237
	55,636	Evergy, Inc.		3,621,347
	38,376	IDACORP, Inc.		4,098,557
	94,554	OGE Energy Corp.		4,204,816
	47,004	Xcel Energy, Inc. (a)		2,984,284
				27,534,930
		Food Products - 1.86%
	49,819	Hershey Co.		7,322,397
		Health Care Equipment & Supplies - 2.79%
	71,566	Danaher Corp. (a)		10,983,950
		Health Care Providers & Services - 0.93%
	8,371	Chemed Corp.		3,677,045
		Household Durables - 1.44%
	793	NVR, Inc. (b)		3,020,069
	68,705	PulteGroup, Inc.		2,665,754
				5,685,823
		Household Products - 2.98%
	57,902	Clorox Co. (a)		8,890,273
	56,911	Energizer Holdings, Inc. (a)		2,858,071
				11,748,344
		Insurance - 13.34%
	299,252	Aflac, Inc. (a)		15,830,431
	79,988	Arch Capital Group Ltd. (b)		3,430,685
	193,053	Brighthouse Financial, Inc. (b)		7,573,469
	55,911	Erie Indemnity Co. - Class A		9,281,226
	21,740	Hanover Insurance Group, Inc.		2,971,206
	39,103	Kemper Corp.		3,030,482
	58,379	MetLife, Inc.		2,975,578
	38,184	RenaissanceRe Holdings Ltd.		7,484,828
				52,577,905
		IT Services - 0.75%
	67,860	CoreLogic Inc		2,966,161
		Media - 2.59%
	237,088	Discovery, Inc. - Class A (a)(b)		7,228,813
	90,963	Discovery, Inc. - Class C (b)		2,978,129
				10,206,942
		Metals & Mining - 1.55%
	49,945	Royal Gold, Inc. (a)		6,105,776
		Multi-Utilities - 3.24%
	55,640	Ameren Corp.		4,273,152
	88,709	CMS Energy Corp.		5,574,473
	19,129	Sempra Energy		2,897,661
				12,745,286
		Pharmaceuticals - 6.34%
	197,839	Bristol-Myers Squibb Co. (a)		12,699,286
	89,060	Horizon Therapeutics Plc (b)		3,223,972
	68,504	Zoetis, Inc.		9,066,504
				24,989,762
		Professional Services - 0.85%
	44,517	IHS Markit Ltd. (b)		3,354,356
		Software - 3.27%
	84,824	VMware, Inc. - Class A (a)		12,875,435
		Total Common Stocks (Cost $238,926,123)		242,976,649
		INVESTMENT COMPANIES - 28.68%
		Exchange Traded Funds - 28.68%
	804,373	ProShares UltraPro S&P 500 ETF (a)		56,314,154
	41,507	SPDR Bloomberg Barclays 1-3 Month T-Bill ETF		3,794,985
	178,777	Vanguard S&P 500 ETF		52,882,236
				112,991,375
		Total Investment Companies (Cost $90,895,208)		112,991,375
		REAL ESTATE INVESTMENT TRUSTS - 8.44%
	813,527	AGNC Investment Corp.		14,383,157
	24,924	AvalonBay Communities, Inc.		5,226,563
	50,110	Equity LifeStyle Properties, Inc.		3,527,243
	19,299	Simon Property Group, Inc.		2,874,779
	108,754	Vornado Realty Trust		7,232,141
		Total Real Estate Investment Trusts (Cost $32,998,603)		33,243,883
		SHORT TERM INVESTMENTS - 0.67%
		Money Market Funds - 0.67%
	2,655,441	DWS Government Money Market Series - Institutional Shares
		Effective Yield 1.55% (c)		2,655,441
		Total Short Term Investments (Cost $2,655,441)		2,655,441
		INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING COLLATERAL - 13.31%
	52,458,356	Mount Vernon Liquid Assets Portfolio, LLC
		Effective Yield, 1.80% (c)		52,458,356
		Total Investments Purchased with Proceeds from Securities Lending Collateral (Cost $52,458,356)		52,458,356
		Total Investments (Cost $417,933,731) - 112.76%		444,325,704
		Liabilities in Excess of Other Assets - (12.76)%		(50,289,230	)
		TOTAL NET ASSETS - 100.00%	$	394,036,474
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, 2019.