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

GuidePath® Conservative Allocation Fund
Schedule of Investments (Unaudited)
December 31, 2019
Number of Shares			Value
		INVESTMENT COMPANIES - 98.61%
		Exchange Traded Funds - 71.07%
	202,575	iShares 1-3 Year Treasury Bond ETF	$	17,143,922
	83,418	iShares 3-7 Year Treasury Bond ETF (a)		10,489,814
	99,008	iShares 7-10 Year Treasury Bond ETF (a)		10,912,662
	179,031	iShares Broad USD Investment Grade Corporate Bond ETF		10,437,507
	333,072	iShares Core Aggressive Allocation ETF		19,318,176
	516,412	iShares Core Growth Allocation ETF (a)		24,705,150
	51,262	iShares Core MSCI Emerging Markets ETF		2,755,845
	73,175	iShares Core MSCI Europe ETF (a)		3,649,237
	161,197	iShares Core S&P Small-Cap ETF (a)		13,516,368
	154,132	iShares Edge MSCI Min Vol USA ETF		10,111,059
	20,505	iShares iBoxx High Yield Corporate Bond ETF (a)		1,803,210
	27,759	iShares J.P. Morgan USD Emerging Markets Bond ETF (a)		3,180,071
	59,562	iShares Long-Term Corporate Bond ETF		3,970,999
	64,914	iShares MSCI Canada ETF (a)		1,940,280
	105,625	iShares MSCI Switzerland ETF		4,292,600
	131,226	Principal Active Income ETF		5,380,266
	75,478	SPDR Bloomberg Barclays High Yield Bond ETF (a)		8,267,860
	68,192	SPDR Bloomberg Barclays International Treasury Bond ETF (a)		1,964,612
	31,858	SPDR Gold Shares (b)		4,552,508
	145,398	SPDR Portfolio TIPS ETF (a)		4,151,113
	24,991	SPDR S&P China ETF		2,565,326
	359,910	Vanguard FTSE Developed Markets ETF (a)		15,857,635
	205,058	Vanguard High Dividend Yield ETF (a)		19,215,985
	113,694	Vanguard Long-Term Treasury ETF		9,467,299
	605,140	Vanguard Mortgage-Backed Securities ETF		32,175,294
	32,670	Vanguard Real Estate ETF (a)		3,031,449
	76,291	Vanguard S&P 500 ETF		22,566,878
	13,483	Vanguard Total Bond Market ETF		1,130,684
	46,288	Vanguard Value ETF (a)		5,547,617
				274,101,426
		Mutual Funds - 27.54%
	380,765	American Funds - Capital Income Builder - Class F3		24,102,406
	1,420,990	American Funds - High-Income Trust - Class F3		14,323,584
	443,507	American Funds - Mutual Fund - Class F3		19,292,553
	1,035,893	American Funds - The Income Fund of America - Class F3		24,063,784
	1,004,592	American Funds - U.S. Government Securities Fund - Class F3		13,873,411
	1,769,887	Vanguard High-Yield Corporate Fund		10,548,529
				106,204,267
		Total Investment Companies (Cost $346,166,414)		380,305,693
		SHORT TERM INVESTMENTS - 0.00%
		Money Market Funds - 0.00%
	505	DWS Government Money Market Series - Institutional Shares
		Effective Yield, 1.55% (c)		505
		Total Short Term Investments (Cost $505)		505
		INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING COLLATERAL - 13.59%
	52,400,822	Mount Vernon Liquid Assets Portfolio, LLC
		Effective Yield, 1.80% (c)		52,400,822
		Total Investments Purchased with Proceeds from Securities Lending Collateral            (Cost $52,400,822)		52,400,822
		Total Investments (Cost $398,567,741) - 112.20%		432,707,020
		Liabilities in Excess of Other Assets - (12.20)%		(47,044,000	)
		TOTAL NET ASSETS - 100.00%	$	385,663,020
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.