GPS Funds II NPORT-P GuidePath Absolute Return Allocation Fund (Jun 2020 report)

GuidePath® Absolute Return Allocation Fund
Schedule of Investments (Unaudited)
June 30, 2020
Number of Shares			Value
		INVESTMENT COMPANIES - 98.88%
		Exchange Traded Funds - 58.73%
	3,257	Invesco DB Agriculture Fund	$	43,986
	4,063	Invesco DB Base Metals Fund		55,297
	12,603	Invesco DB Energy Fund		116,830
	472	Invesco DB Precious Metals Fund		22,576
	27,197	iShares 7-10 Year Treasury Bond ETF		3,314,498
	2,278	iShares Core MSCI Emerging Markets ETF		108,433
	105,278	iShares iBoxx $ Investment Grade Corporate Bond ETF		14,159,891
	217,801	ProShares Investment Grade-Interest Rate Hedged ETF (a)(c)		15,374,573
	217,210	ProShares UltraShort 20+ Year Treasury (a)		3,453,639
	320,118	Schwab Short-Term U.S. Treasury ETF		16,527,692
	5,777	SPDR Bloomberg Barclays 1-3 Month T-Bill ETF		528,769
	106,464	Vanguard Emerging Markets Government Bond ETF		8,278,641
	8,396	Vanguard FTSE Developed Markets ETF		325,681
	116,075	Vanguard Intermediate-Term Corporate Bond ETF		11,043,375
	911,415	Vanguard Mortgage-Backed Securities ETF		49,553,634
	3,998	Vanguard S&P 500 ETF (a)		1,133,153
	61,313	Vanguard Total Bond Market ETF		5,416,390
				129,457,058
		Mutual Funds - 40.15%
	2,224,774	BlackRock Low Duration Bond Portfolio - Institutional Shares		21,469,070
	286,871	DoubleLine Core Fixed Income Fund - Institutional Shares		3,187,136
	1,203,841	DoubleLine Flexible Income Fund - Institutional Shares		10,991,071
	2,179,538	DoubleLine Low Duration Bond Fund - Institutional Shares		21,490,240
	373,575	DoubleLine Shiller Enhanced CAPE - Institutional Shares		5,446,717
	2,162,999	DoubleLine Total Return Bond Fund - Institutional Shares		23,187,345
	293,132	T. Rowe Price Institutional Floating Rate Fund		2,720,263
				88,491,842
		Total Investment Companies (Cost $204,221,348)		217,948,900
		SHORT TERM INVESTMENTS - 0.89%
		Money Market Funds - 0.89%
	1,957,405	DWS Government Money Market Series - Institutional Shares
		Effective Yield, 0.12% (b)		1,957,405
		Total Short Term Investments (Cost $1,957,405)		1,957,405
		INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 1.58%
		Investments Purchased with Proceeds from Securities Lending - 1.58%
	3,488,258	Mount Vernon Liquid Assets Portfolio, LLC
		Effective Yield, 0.33% (b)		3,488,258
		Total Investments Purchased with Proceeds from Securities Lending (Cost $3,488,258)		3,488,258
		Total Investments (Cost $209,667,011) - 101.35%		223,394,563
		Liabilities in Excess of Other Assets - (1.35)%		(2,973,289	)
		TOTAL NET ASSETS - 100.00%	$	220,421,274
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 June 30, 2020.
(c)	Affiliated company as defined by the Investment Company Act of 1940. Please refer to Note 9 for further disclosures related to this affiliated security.