GPS Funds II NPORT-P GuidePath Absolute Return Allocation Fund (Dec 2022 report)

GuidePath® Absolute Return Allocation Fund
Schedule of Investments (Unaudited)
December 31, 2022
Number of Shares			Value
		INVESTMENT COMPANIES - 98.77%
		Alternative Funds - 1.10%
	5,934	Invesco DB Agriculture Fund	$	119,570
	5,343	Invesco DB Energy Fund		121,126
	1,071	Invesco DB Precious Metals Fund		51,460
	47,037	ProShares Investment Grade-Interest Rate Hedged ETF (a)		3,344,801
				3,636,957
		Domestic Equity Funds - 3.14%
	775,796	DoubleLine Shiller Enhanced CAPE - Institutional Shares		9,162,149
	3,503	Vanguard S&P 500 ETF (a)(b)		1,230,744
				10,392,893
		Domestic Fixed Income Funds - 86.60%
	2,746,000	BlackRock Low Duration Bond Portfolio - Institutional Shares		24,357,017
	752,349	DoubleLine Core Fixed Income Fund - Institutional Shares		6,914,089
	1,290,781	DoubleLine Flexible Income Fund - Institutional Shares (c)		10,816,742
	2,576,204	DoubleLine Low Duration Bond Fund - Institutional Shares		24,164,793
	3,845,747	DoubleLine Total Return Bond Fund - Institutional Shares		33,727,202
	264,329	iShares 7-10 Year Treasury Bond ETF (a)		25,317,432
	68,997	Schwab Short-Term U.S. Treasury ETF (a)		3,328,415
	4,744	SPDR Bloomberg Barclays 1-3 Month T-Bill ETF (a)		433,934
	165,257	SPDR Bloomberg Barclays Investment Grade Floating Rate ETF		5,022,160
	1,817,043	T. Rowe Price Institutional Floating Rate Fund - Investor Shares		16,680,454
	5,607,065	Vanguard High-Yield Corporate Fund - Admiral Shares		28,876,385
	232,372	Vanguard Intermediate-Term Corporate Bond ETF (a)		18,011,154
	153,922	Vanguard Long-Term Treasury ETF		9,484,674
	896,390	Vanguard Mortgage-Backed Securities ETF (a)		40,803,673
	375,080	Vanguard Short-Term Corporate Bond ETF		28,202,265
	141,405	Vanguard Total Bond Market ETF		10,158,535
				286,298,924
		International Equity Funds - 0.17%
	2,861	iShares Core MSCI Emerging Markets ETF		133,609
	9,600	Vanguard FTSE Developed Markets ETF (a)		402,912
				536,521
		International Fixed Income Funds - 4.47%
	242,440	Vanguard Emerging Markets Government Bond ETF		14,783,991
		Opportunistic Fixed Income Funds - 3.29%
	1,182,685	BlackRock Strategic Income Opportunities Portfolio - Institutional Shares		10,880,706
		Total Investment Companies (Cost $336,973,751)		326,529,992
		SHORT TERM INVESTMENTS - 0.00% (d)
		Money Market Funds - 0.00%
	211	DWS Government Money Market Series - Institutional Shares
		Effective Yield, 4.22% (b)		211
		Total Short Term Investments (Cost $211)		211
Number of Units
		INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING COLLATERAL - 7.27%
	24,027,998	Mount Vernon Liquid Assets Portfolio, LLC
		Effective Yield, 4.49% (b)		24,027,998
		Total Investments Purchased with Proceeds from Securities Lending Collateral (Cost $24,027,998)		24,027,998
		Total Investments (Cost $361,001,960) - 106.04%		350,558,201
		Liabilities in Excess of Other Assets - (6.04)%		(19,955,327	)
		TOTAL NET ASSETS - 100.00%	$	330,602,874
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, 2022.
(c)		Certain GuidePath® Funds invest in securities of unaffiliated underlying funds in accordance with Section 12(d)(1)(F) of the Investment Company Act of 1940. Such investments are potentially illiquid, because an unaffiliated underlying fund, under the terms of Section 12(d)(1)(F), is not obligated to redeem its shares in an amount exceeding 1% of its total outstanding shares during any period of less than thirty days. Investments made in accordance with Section 12(d)(1)(F) that exceed 1% of the outstanding shares of each underlying fund, and therefore are potentially illiquid, amount to $942,449 or 0.29% of total net assets as of December 31, 2022.
(d)		Less than 0.01%.