GPS Funds II NPORT-P GuidePath Managed Futures Strategy Fund (Jun 2023 report)

GuidePath® Managed Futures Strategy Fund
Consolidated Schedule of Investments (Unaudited)
June 30, 2023
Principal Amount			Value
		SHORT TERM INVESTMENTS - 88.91%
		Certificate of Deposits - 50.10%
		Bank of America NA
$	10,000,000	5.200%, 10/10/2023	$	9,991,019
10,000,000		5.700%, 04/12/2024	10,006,636
		Bank of Montreal
5,000,000		5.000%, 10/06/2023	4,991,306
7,000,000		5.430% (SOFR + 0.370%), 01/03/2024 (a)	6,999,123
8,000,000		5.710% (SOFR + 0.650%), 06/14/2024 (a)	8,001,008
		Bank of Nova Scotia
4,000,000		4.990% (SOFR + 0.680%), 08/16/2023 (a)	4,000,000
10,000,000		5.010% (SOFR + 0.700%), 08/17/2023 (a)	10,000,000
5,000,000		5.480% (SOFR + 0.420%), 01/26/2024 (a)	4,999,235
		CIBC
5,000,000		5.200%, 09/21/2023	4,997,746
5,000,000		5.600%, 03/06/2024	4,986,984
10,000,000		5.810%, 03/26/2024	9,990,749
		Cooperatieve Centrale Raiffe
10,000,000		5.020% (SOFR + 0.710%), 11/24/2023 (a)	10,015,536
10,500,000		5.300%, 12/14/2023	10,476,472
22,000,000		DNB Bank ASA
		5.000%, 07/05/2023	22,000,000
6,000,000		Mitsubishi Trust & Banking Corp.
		5.540%, 09/21/2023	6,000,792
		Mizuho Bank, Ltd.
10,000,000		5.510% (SOFR + 0.450%), 10/25/2023 (a)	10,003,909
10,000,000		5.350%, 02/07/2024	9,963,083
		Nordea Bank
10,000,000		3.790% (SOFR + 0.770%), 10/23/2023 (a)	10,014,385
5,000,000		5.330% (SOFR + 0.270%), 02/16/2024 (a)	4,995,917
5,000,000		5.580% (SOFR + 0.520%), 03/08/2024 (a)	5,002,926
		Oversea-Chinese Banking Corp., Ltd.
3,000,000		5.550%, 10/10/2023	3,000,153
17,000,000		5.410% (SOFR + 0.350%), 11/01/2023 (a)	17,001,412
		Skandinaviska Enskilda Bank
10,000,000		5.430% (SOFR + 0.370%), 10/20/2023 (a)	10,004,051
10,000,000		5.450%, 10/25/2023	9,998,570
		Sumitomo Mitsui Banking Corp.
10,000,000		5.090%, 08/23/2023	10,000,000
5,000,000		5.550%, 09/26/2023	5,000,490
5,000,000		5.490% (SOFR + 0.430%), 11/17/2023 (a)	5,000,608
8,000,000		Svenska Handelsbanken - A Shares
		5.100% (SOFR + 0.790%), 10/25/2023 (a)	8,014,690
		Toronto Dominion Bank
3,000,000		4.020%, 08/22/2023	3,000,000
15,000,000		5.320%, 09/27/2023	14,989,942
2,000,000		5.701%, 07/02/2024 (e)	1,999,739
5,000,000		Westpac Banking Corp.
		5.290% (SOFR + 0.230%), 02/22/2024 (a)	4,994,335
			260,440,816
Number of Shares
		Money Market Funds - 6.25%
32,481,628		JPMorgan U.S. Government Money Market Fund
		Effective Yield, 5.03% (b)(d)	32,481,628
Principal Amount
		U.S. Treasury Bills - 32.56%
$	20,000,000	5.168%, 07/05/2023 (c)(e)	19,988,750
10,000,000		5.096%, 07/06/2023 (c)(e)	9,993,094
12,500,000		5.125%, 07/18/2023 (c)(e)	12,470,442
10,000,000		5.077%, 08/01/2023 (e)	9,957,203
10,000,000		5.154%, 08/03/2023 (e)	9,953,800
5,000,000		5.163%, 08/08/2023 (e)	4,973,400
12,500,000		5.134%, 08/10/2023 (c)(e)	12,430,555
5,000,000		5.177%, 08/15/2023 (e)	4,968,422
5,000,000		5.223%, 08/17/2023 (e)	4,966,692
10,000,000		5.236%, 08/22/2023 (e)	9,926,189
13,000,000		4.906%, 09/07/2023 (c)(e)	12,877,273
15,000,000		5.373%, 09/19/2023 (c)(e)	14,832,210
12,000,000		4.801%, 09/21/2023 (c)(e)	11,862,378
14,500,000		5.125%, 09/28/2023 (c)(e)	14,319,054
6,000,000		5.033%, 10/19/2023 (e)	5,906,400
10,000,000		5.162%, 11/02/2023 (c)(e)	9,823,608
			169,249,470
		Total Short Term Investments (cost $462,259,510)	462,171,914
Number of Units
		INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING COLLATERAL - 21.72%
112,938,750		Mount Vernon Liquid Assets Portfolio, LLC
		Effective Yield, 5.22% (b)	112,938,750
		Total Investments Purchased with Proceeds from Securities Lending Collateral (Cost $112,938,750)	112,938,750
		Total Investments (Cost $575,198,260) - 110.63%	575,110,664
		Liabilities in Excess of Other Assets - (10.63)%	(55,246,023)
		TOTAL NET ASSETS - 100.00%	$	519,864,641

Percentages are stated as a percent of net assets.
(a)	Variable rate security based on a reference index and spread. Certain securities are fixed to variable and currently in the fixed phase. The rate reported is the rate in effect as of June 30, 2023.
(b)	Seven-day yield as of June 30, 2023.
(c)	All or portion of this security is on loan.
(d)	All or a portion of this security is held by GuidePath Managed Futures Strategy Cayman Fund Ltd.
(e)	Zero coupon bond.  The effective yield is listed.

GuidePath Managed Futures Strategy Fund
Consolidated Schedule of Open Futures Contracts (Unaudited)
June 30, 2023
	Description	Number of Contracts Purchased / (Sold)			Long/Short	Notional Value			Settlement Month	Value / Unrealized Appreciation (Depreciation)
	Brazilian Real Futures		143		Long	$	2,967,250		Jul-23	$	(7,661	)
	British Pound Futures		525		Long		41,668,594		Sep-23		238,909
	CAC40 Index Futures		148		Long		11,967,810		Jul-23		282,727
	Canadian Dollar Futures		533		Long		40,310,790		Sep-23		(127,956	)
	Cocoa Futures (a)		137		Long		4,593,610		Sep-23		390,718
	DAX® Index Futures		29		Long		12,873,137		Sep-23		122,040
	DJIA E-Mini CBOT Futures		74		Long		12,817,910		Sep-23		153,509
	ECX Emissions Futures (a)		6		Long		583,226		Dec-23		(3,420	)
	E-mini NASDAQ 100 Futures		114		Long		34,968,360		Sep-23		794,150
	E-mini Russell 2000 Futures		52		Long		4,949,620		Sep-23		19,198
	E-mini S&P 500 Futures		175		Long		39,272,188		Sep-23		914,673
	E-mini S&P Mid Cap 400 Futures		29		Long		7,667,890		Sep-23		200,958
	Euro Fx Futures		147		Long		20,126,138		Sep-23		(27,577	)
	Euro Stoxx 50® Index Futures		420		Long		20,289,169		Sep-23		481,248
	Euro Stoxx 600 Futures		302		Long		7,642,107		Sep-23		24,244
	Euro-BTP Futures		49		Long		6,208,278		Sep-23		(4,357	)
	FTSE 100 Index Futures		87		Long		8,332,620		Sep-23		(79,631	)
	FTSE JSE Top 40 Futures		56		Long		2,113,309		Sep-23		(46,603	)
	FTSE MIB Index Futures		66		Long		10,213,428		Sep-23		375,723
	FTSE Taiwan Index Futures		200		Long		11,556,000		Jul-23		(93,980	)
	Gold 100 Oz. Futures (a)		18		Long		3,472,920		Aug-23		(95,981	)
	IBEX 35® Index Futures		71		Long		7,398,900		Jul-23		199,272
	Indian Rupee Futures		80		Long		1,947,360		Jul-23		(2,375	)
	Live Cattle Futures (a)		242		Long		17,150,540		Aug-23		1,416,973
	LME Copper Futures (a)(b)		4		Long		492,216		Sep-23		(66,537	)
	LME Nickel Futures (a)(b)		4		Long		831,700		Sep-23		(16,321	)
	LME Zinc Futures (a)(b)		3		Long		179,194		Sep-23		1,718
	Mexican Peso Futures		1,019		Long		29,286,060		Sep-23		265,945
	MSCI EAFE Index Futures		155		Long		16,705,125		Sep-23		135,723
	MSCI Emerging Markets Index Futures		81		Long		4,041,495		Sep-23		(135,818	)
	Nikkei 225 Futures		88		Long		20,229,114		Sep-23		669,531
	OMXS30 Futures		437		Long		9,384,964		Jul-23		810
	RBOB Gasoline Futures (a)		7		Long		723,975		Aug-23		33,947
	S&P/TSX 60 Index Futures		21		Long		3,863,461		Sep-23		61,750
	SGX Iron Ore 62% Futures (a)		93		Long		1,014,351		Aug-23		(6,207	)
	Silver Futures (a)		19		Long		2,186,900		Sep-23		(128,636	)
	Soybean Futures (a)		66		Long		4,432,725		Nov-23		5,364
	Soybean Meal Futures (a)		53		Long		2,105,690		Dec-23		(84,394	)
	SPI 200 Index Futures		102		Long		12,164,293		Sep-23		115,515
	Sugar No. 11 Futures (a)		232		Long		5,921,754		Sep-23		(629,313	)
	Swiss Franc Futures		101		Long		14,220,169		Sep-23		139,987
	Topix Index Futures		154		Long		24,418,864		Sep-23		768,560
	3 Month SOFR Futures		(865	)	Short		(204,659,000	)	Mar-24		262,512
	90-Day Bank Bill Futures		(396	)	Short		(260,761,866	)	Dec-23		62,042
	Australian 10-Year Treasury Bond Futures		(361	)	Short		(27,937,197	)	Sep-23		152,259
	Australian 3-Year Treasury Bond Futures		(1,428	)	Short		(100,482,423	)	Sep-23		520,129
	Australian Dollar Futures		(179	)	Short		(11,953,620	)	Sep-23		62,291
	Bank Accept Futures		(277	)	Short		(49,380,647	)	Dec-23		(5,021	)
	Brent Crude Futures (a)		(106	)	Short		(13,452,063	)	Aug-23		6,228
	Canadian 10-Year Bond Futures		(196	)	Short		(18,128,613	)	Sep-23		(58,374	)
	Coffee 'C' Futures (a)		(53	)	Short		(1,875,246	)	Sep-23		(392,411	)
	Copper Futures (a)		(30	)	Short		(2,819,625	)	Sep-23		5,173
	Cotton No. 2 Futures (a)		(54	)	Short		(2,169,990	)	Dec-23		63,264
	Euribor 3 Month Futures		(1,028	)	Short		(269,249,580	)	Dec-23		(29,872	)
	Euro-Bobl Futures		(304	)	Short		(38,383,972	)	Sep-23		401,115
	Euro-BTP Futures - Short		(288	)	Short		(32,887,977	)	Sep-23		181,387
	Euro-Bund Futures		(116	)	Short		(16,928,744	)	Sep-23		87,236
	Euro-Buxl® 30 Year Futures		(44	)	Short		(6,702,604	)	Sep-23		(172,887	)
	Euro-OAT Futures		(139	)	Short		(19,475,350	)	Sep-23		32,609
	Euro-Schatz Futures		(1,214	)	Short		(138,896,903	)	Sep-23		845,524
	FTSE China A50 Index Futures		(630	)	Short		(7,776,090	)	Jul-23		(46,746	)
	Hang Seng Index Futures		(11	)	Short		(1,320,042	)	Jul-23		5,907
	HSCEI Index Futures		(31	)	Short		(1,256,655	)	Jul-23		(4,547	)
	ICE 3 Month Sonia Futures		(733	)	Short		(218,217,377	)	Mar-24		277,924
	Japanese Yen Futures		(890	)	Short		(78,014,063	)	Sep-23		2,480,172
	KC HRW Wheat Future (a)		(16	)	Short		(640,200	)	Dec-23		(3,933	)
	Lean Hogs Futures (a)		(87	)	Short		(3,222,480	)	Aug-23		(417,935	)
	LME Aluminium Futures (a)(b)		(131	)	Short		(7,033,063	)	Sep-23		663,972
	LME Copper Futures (a)(b)		(8	)	Short		(1,663,400	)	Sep-23		(21,802	)
	LME Nickel Futures (a)(b)		(17	)	Short		(2,091,918	)	Sep-23		197,269
	LME Zinc Futures (a)(b)		(62	)	Short		(3,703,338	)	Sep-23		325,745
	Long Gilt Futures		(258	)	Short		(31,226,060	)	Sep-23		123,845
	Low Sulphur Gas Oil Futures (a)		(82	)	Short		(5,760,500	)	Aug-23		(104,385	)
	MSCI Singapore Index Futures		(13	)	Short		(277,706	)	Jul-23		136
	Natural Gas Futures (a)		(160	)	Short		(4,438,400	)	Aug-23		(106,392	)
	New Zealand Dollar Futures		(102	)	Short		(6,259,230	)	Sep-23		(6,634	)
	NY Harbor ULSD Futures (a)		(59	)	Short		(6,051,276	)	Aug-23		(169,882	)
	Palladium Futures (a)		(13	)	Short		(1,588,600	)	Sep-23		309,057
	Platinum Futures (a)		(10	)	Short		(456,600	)	Oct-23		(66	)
	South African Rand Futures		(368	)	Short		(9,696,800	)	Sep-23		68,491
	Soybean Oil Futures (a)		(53	)	Short		(3,160,125	)	Dec-23		131,544
	U.S. Treasury 10-Year Note Futures		(262	)	Short		(29,413,594	)	Sep-23		479,656
	U.S. Treasury 2-Year Note Futures		(977	)	Short		(198,666,844	)	Sep-23		2,152,200
	U.S. Treasury 5-Year Note Futures		(471	)	Short		(50,441,156	)	Sep-23		842,626
	U.S. Treasury Long Bond Futures		(106	)	Short		(7,981,800	)	Sep-23		(83,893	)
	U.S. Treasury Ultra Bond Futures		(63	)	Short		(8,581,781	)	Sep-23		(86,001	)
	U.S. Ultra 10 Year Future		(161	)	Short		(19,068,438	)	Sep-23		168,791
	Wheat Futures (a)		(92	)	Short		(3,078,550	)	Dec-23		(67,436	)
	WTI Crude Futures (a)		(136	)	Short		(9,626,080	)	Aug-23		(377,626	)
										$	15,009,686

(a)

All or a portion of this security is held by GuidePath Managed Futures Strategy Cayman Fund Ltd.

(b)

London Metal Exchange (“LME”) futures contracts settle on their respective maturity date, and do not have daily cash movements like other futures contracts. The unrealized appreciation on these contracts is a receivable for unsettled open futures contracts and the unrealized depreciation is a payable for unsettled open futures contracts on the Fund’s consolidated statement of assets and liabilities.

GuidePath Managed Futures Strategy Fund
Consolidated Schedule of Open Forward Currency Contracts (Unaudited)
June 30, 2023
Forward			Amount of			Amount of		Unrealized
Expiration	Currency to be		Currency to		Currency to be	Currency to		Appreciation
Date	Counterparty	received	be received		delivered	be delivered		(Depreciation)
9/20/2023	UBS AG	Norwegian Krone		138,000,000	U.S. Dollar		13,010,019		(116,056	)
9/20/2023	UBS AG	Polish Zloty		116,000,000	U.S. Dollar		27,809,128		602,127
9/20/2023	UBS AG	Singapore Dollar		30,875,000	U.S. Dollar		23,130,633		(228,284	)
9/20/2023	UBS AG	Swedish Krona		166,000,000	U.S. Dollar		15,604,286		(151,207	)
9/20/2023	UBS AG	U.S. Dollar		29,842,322	Chinese Yuan Renminbi		212,000,000		473,448
9/20/2023	UBS AG	U.S. Dollar		28,725,076	Norwegian Krone		308,000,000		(52,756	)
9/20/2023	UBS AG	U.S. Dollar		10,726,451	Singapore Dollar		14,500,000		(29,308	)
9/20/2023	UBS AG	U.S. Dollar		35,594,784	Swedish Krona		382,000,000		34,085
								$	532,049