GPS Funds II NPORT-P GuidePath Flexible Income Allocation Fund (Dec 2020 report)

GuidePath® Flexible Income Allocation Fund
Schedule of Investments (Unaudited)
December 31, 2020
Number of Shares			Value
		INVESTMENT COMPANIES - 98.48%
		Exchange Traded Funds - 78.12%
	74,068	iShares 0-5 Year High Yield Corporate Bond ETF	$	3,365,650
	66,957	iShares Agency Bond ETF		8,004,709
	82,129	iShares Broad USD High Yield Corporate Bond ETF (a)		3,388,643
	144,396	iShares Convertible Bond ETF		13,941,434
	29,351	iShares Global Tech ETF (a)		8,806,768
	82,829	iShares iBoxx $ Investment Grade Corporate Bond ETF		11,441,170
	118,156	Schwab Intermediate-Term U.S. Treasury ETF		6,879,042
	320,316	Schwab Short-Term U.S. Treasury ETF		16,461,039
	402,414	Schwab U.S. TIPS ETF (a)		24,981,861
	108,467	SPDR Bloomberg Barclays High Yield Bond ETF		11,816,395
	125,515	SPDR Bloomberg Barclays Short Term High Yield Bond ETF		3,382,629
	527,686	SPDR Portfolio Aggregate Bond ETF		16,247,452
	66,472	Technology Select Sector SPDR ETF (a)		8,642,689
	150,266	Vanguard Emerging Markets Government Bond ETF		12,366,892
	168,138	Vanguard Intermediate-Term Corporate Bond ETF (a)		16,332,925
	12,752	Vanguard Long-Term Treasury ETF (a)		1,222,407
	92,117	Vanguard Total Bond Market ETF		8,123,798
	403,546	Xtrackers USD High Yield Corporate Bond ETF		20,213,619
				195,619,122
		Mutual Funds - 20.36%
	4,282,576	BlackRock High Yield Portfolio - Institutional Shares		33,361,270
	2,947,566	Vanguard High-Yield Corporate Fund - Admiral Shares		17,626,445
				50,987,715
		Total Investment Companies (Cost $236,068,234)		246,606,837
		SHORT TERM INVESTMENTS - 0.90%
		Money Market Funds - 0.90%
	2,254,388	DWS Government Money Market Series - Institutional Shares
		Effective Yield, 0.03% (b)		2,254,388
		Total Short Term Investments (Cost $2,254,388)		2,254,388
		INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING COLLATERAL - 8.86%
		Investments Purchased with Proceeds from Securities Lending Collateral - 8.86%
	22,176,784	Mount Vernon Liquid Assets Portfolio, LLC
		Effective Yield, 0.16% (b)		22,176,784
		Total Investments Purchased with Proceeds from Securities Lending Collateral (Cost $22,176,784)		22,176,784
		Total Investments (Cost $260,499,406) - 108.24%		271,038,009
		Liabilities in Excess of Other Assets - (8.24)%		(20,638,641	)
		TOTAL NET ASSETS - 100.00%	$	250,399,368

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, 2020.