GuideStone Funds

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NOTICE CONCERNING OUR PRIVACY PRACTICES

This notice provides you with information concerning our policies with respect to non-public personal information that we collect about you in connection with the following financial products and services provided and/or serviced by the entities listed below: Individual Retirement Accounts (“IRAs”), personal mutual fund accounts and/or GuideStone Personal Advisory Services.

The confidentiality of your information is important to us, as we recognize that you depend on us to keep your information confidential, as described in this notice.

We collect non-public personal information about you with regard to the products and services listed above from the following sources:

•	Information we receive from you on applications or other forms
•	Information about your transactions with us, our affiliates or others (including our third-party service providers)
•	Information we receive from others, such as service providers, broker-dealers and your personal agents or representatives
•	Information you and others provide to us in correspondence sent to us, whether written, electronic or by telephone

We may disclose such non-public personal financial information about you to one or more of our affiliates as permitted by law. An affiliate of an organization means any entity that controls, is controlled by or is under common control with that organization. GuideStone Funds, GuideStone Financial Resources of the Southern Baptist Convention, GuideStone Capital Management, LLC, GuideStone Resource Management, Inc., GuideStone Investment Services, GuideStone Trust Services, GuideStone Financial Services, GuideStone Advisors and GuideStone Advisors, LLC (collectively “GuideStone”) are affiliates of one another. GuideStone does not sell your personal information to non-affiliated third parties.

We may also disclose any of the personal information that we collect about you to non-affiliated third parties as permitted by law. For example, we may provide your information to non-affiliated companies that provide account services or that perform marketing services on our behalf. We restrict access to non-public personal information about you to those of our employees who need to know that information in order for us to provide products and services to you. We also maintain physical, electronic and procedural safeguards to guard your personal information.

We may continue to maintain and disclose non-public personal information about you after you cease to receive financial products and services from us.

If you have any questions concerning our customer information policy, please contact a customer solutions specialist at 1-888-GS-FUNDS (1-888-473-8637).

TABLE OF CONTENTS

LETTER FROM THE PRESIDENT AND CHIEF INVESTMENT OFFICER

Dear Shareholder:

Thank you for choosing to invest with GuideStone Funds. This 2023 GuideStone Funds Semi-Annual Report marks the first time that I am writing you as the President of GuideStone Funds. John R. Jones, who admirably served in this role for almost two decades, retired earlier this year. He built a strong foundation of excellence and best-in-class staff and sub-advisers. I am indebted to him for the foundation he laid and look forward to standing on his shoulders as we lean into the future.

The first half of 2023 gave us many opportunities to demonstrate our commitment to work on behalf of our investors. The effects of rising interest rates, inflationary trends unseen in two generations and geopolitical uncertainties made for an interesting market. You can rest assured, however, that as we have since our inception, we work diligently each day to earn your trust and your business.

We invite you to learn more about GuideStone Funds and the various investment options available by visiting our website, GuideStoneFunds.com/ Fund-Literature, or contacting us at 1-888-GS-FUNDS (1-888-473-8637).

Following is our recap of the markets over the first half of 2023.

Market Recap

Despite core inflation running at 20-year highs and the occurrence of the second- and third-largest bank failures in U.S. history, the first half of 2023 has proven to be surprising to the upside in the financial markets. After a difficult 2022 in which both stocks and bonds lost value, major equity and fixed income indexes have posted strong positive returns so far.

The S&P 500® Index has staged an impressive runup, with a year-to-date return of 16.89% for the period ended June 30, 2023. But for the most part, the rally has been strikingly narrow and led by a handful of mega-cap tech names. However, as the year’s first half closed, it broadened somewhat as a wider swath of sectors began seeing gains. Artificial Intelligence (“AI”) has captured the attention of investors. In some ways, the current market environment resembles the market from the late 90s, with equities climbing steadily higher despite rising federal funds rates, led by a few tech names riding a wave of new technology – the internet back then and AI now. International equities followed the lead of the United States, as developed markets returned 11.67%. Emerging markets were up a weaker 4.89%, primarily due to softness in the Chinese economy because of flagging global demand.

The U.S. 10-year Treasury yield rose almost 0.30% to close out the year’s first half at 3.86%. At the short end of the yield curve, we were seeing yields as high as we have seen since 2007. The 2/10 portion of the yield curve remains deeply inverted, with the two-year Treasury bond yield at 4.94%. Bond prices slipped as yields rose in the second quarter, leaving global and domestic fixed income with mixed results.

The following table summarizes the first six months of calendar year 2023 returns for each major broad-based market index or market indicator.

2

    

Index	1 st Quarter 2023 Return	2 nd Quarter 2023 Return	YTD Returns as of June 30, 2023
U.S. Equities
S&P 500®	7.50%	8.74%	16.89%
Russell 2000	2.74%	5.21%	8.09%
International Equities
MSCI EAFE	8.47%	2.95%	11.67%
MSCI Emerging Markets	3.96%	0.90%	4.89%
U.S. Fixed Income
Bloomberg U.S. Aggregate	2.96%	-0.84%	2.09%
Bloomberg US High Yield Corporate	3.57%	1.75%	5.38%
Global Fixed Income
Bloomberg Global Aggregate Bond	2.90%	0.06%	2.96%

Looking ahead at the upcoming second half, we expect interest rates and inflation to continue to be the primary drivers of the economy, just as they have been for the last 18 months. There is a 12- to 18-month lag between monetary policy implementation and its economic impact. The Federal Reserve (the “Fed”) ended its quantitative easing program and began raising rates in March 2022, so the effects of tighter policy are just now beginning to ripple through the U.S. economy.

Notably, inflation has cooled since its high last summer. By the end of June, the headline Consumer Price Index (“CPI”)¹ had fallen to 3.0% year-over-year, with core CPI (headline excluding food and energy) at 4.8% year-over-year. Furthermore, June's Producer Price Index (PPI)² data also confirmed slowing inflation, with prices up just 0.1%. While these tame inflation readings are a positive sign for the economy, we do not believe this is a “mission accomplished” scenario for the Fed. The Fed’s credibility is riding on its ability to fulfill its commitment to bringing core inflation down to 2.0%, and one report does not make a sustainable trend. Sticky inflation components, along with healthy wage gains, remain problematic. The labor market remains too tight, with an unemployment rate of 3.6%. The Fed must raise that rate by 1.0% or more (i.e., at least 4.5%) before impacting CPI. Consumer demand drives inflation, and fewer jobs mean a decline in spending, resulting in lower prices.

The market strength over the year’s first half has somewhat frustrated the Fed's efforts. Even with 5.0% in interest rate increases, coupled with quantitative tightening, stocks are trading at price-to-earnings (P/E)³ ratio of 20x, higher than when the Fed first started raising rates in March 2022. Investors seem to be betting that the Fed will stop raising rates soon and pivot to rate decreases, despite Chairman Powell's Congressional testimony in June that “nearly all” Fed policymakers expect it will be appropriate to raise rates “somewhat further” before year-end. We do not believe that financial markets have priced in the potential for lower earnings growth (an almost inevitable outcome of rising rates) or the risk of an economic or earnings recession. It is important to note that the Fed has never begun a federal funds easing cycle with the unemployment rate below 4%.

At the end of 2022, we wrote, “Our highest probability outcome and the best-case scenario for the U.S. economy is a mild to moderate recession next year.” The economy has demonstrated far more strength than expected. However, the government’s fiscal response to the COVID shock was unprecedented in modern history, kicking off a strong income and spending growth cycle that has mitigated some of the tightening efforts thus far. Though the factors for an economic slump and rising financial market volatility are still in play, recent economic data has led many experts to reduce their expectations for a recession.

3

We concur that the economy, and specifically the job market, has proven more resilient than we expected in the face of aggressive Fed tightening. We thus downplay near-term recession risks while also expressing skepticism that a soft landing can be achieved in which inflation returns to central bank comfort zones on a sustained basis without an economic downturn.

Sincerely,

David S. Spika, CFA
President and Chief Investment Officer
GuideStone Capital Management, LLC

The determination of "best-in-class" is solely the opinion of the Fund’s Adviser, and such opinion is subject to change. Those companies that hold leading market share positions, strong growth potential, historically good profitability, and management teams known for integrity and good corporate governance are generally considered to be “best-in-class."

Past performance does not guarantee future results and the Funds may experience negative performance. There can be no guarantee that any strategy (risk management or otherwise) will be successful. All investing involves risk, including potential loss of principal. You cannot invest directly into an index.

4

About Your Expenses (Unaudited)

As a shareholder of the Funds, you incur ongoing costs, including advisory fees and to the extent applicable, shareholder services fees, as well as other Fund expenses. This example is intended to help you to understand your ongoing costs (in dollars) of investing in the Funds and to compare these costs with the ongoing costs of investing in other mutual funds. It is based on an investment of $1,000 invested at the beginning of the period and held for the entire period from January 1, 2023 to June 30, 2023.

Actual Expenses

The first section of the table below provides information about actual account values and actual expenses. You may use the information in this section, together with the amount you invested, to estimate the expenses that you incurred over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first section under the heading entitled “Expenses Paid During Period” to estimate the expenses attributable to your investment during this period.

Hypothetical Example for Comparison Purposes

The second section of the table below provides information about hypothetical account values and hypothetical expenses based on the Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. Thus, you should not use the hypothetical account values and expenses to estimate the actual ending account balance or your expenses for the period. Rather, these figures are provided to enable you to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. Please note that the expenses shown in the table are meant to highlight your ongoing costs only. Therefore, the second section of the table is useful in comparing ongoing costs only and will not help you determine the relative total costs of owning different funds.

Actual
Fund		Class		Beginning Account Value 01/01/23		Ending Account Value 06/30/23		Annualized Expense Ratio(1)		Expenses Paid During Period(2)
MyDestination 2015 Fund		Institutional		$1,000.00		$1,061.20		0.11%		$0.56
		Investor		1,000.00		1,060.10		0.39		1.99
MyDestination 2025 Fund		Institutional		1,000.00		1,073.80		0.10		0.51
		Investor		1,000.00		1,072.80		0.37		1.92
MyDestination 2035 Fund		Institutional		1,000.00		1,098.30		0.11		0.55
		Investor		1,000.00		1,096.20		0.37		1.92
MyDestination 2045 Fund		Institutional		1,000.00		1,118.50		0.12		0.63
		Investor		1,000.00		1,116.50		0.38		1.98
MyDestination 2055 Fund		Institutional		1,000.00		1,124.70		0.15		0.79
		Investor		1,000.00		1,122.70		0.42		2.21
Conservative Allocation Fund		Institutional		1,000.00		1,044.70		0.16		0.81
		Investor		1,000.00		1,043.70		0.41		2.07
Balanced Allocation Fund		Institutional		1,000.00		1,072.00		0.13		0.65
		Investor		1,000.00		1,070.00		0.38		1.95
Growth Allocation Fund		Institutional		1,000.00		1,103.10		0.13		0.68
		Investor		1,000.00		1,102.30		0.38		2.00
Aggressive Allocation Fund		Institutional		1,000.00		1,134.90		0.13		0.69
		Investor		1,000.00		1,133.70		0.38		2.03
Money Market Fund		Institutional		1,000.00		1,023.00		0.14		0.72
		Investor		1,000.00		1,021.60		0.41		2.04

5

About Your Expenses (Unaudited) (Continued)

Actual
Fund		Class		Beginning Account Value 01/01/23		Ending Account Value 06/30/23		Annualized Expense Ratio(1)		Expenses Paid During Period(2)
Low-Duration Bond Fund		Institutional		$1,000.00		$1,013.10		0.33%		$1.64
		Investor		1,000.00		1,011.80		0.60		2.98
Medium-Duration Bond Fund		Institutional		1,000.00		1,025.30		0.38		1.91
		Investor		1,000.00		1,023.20		0.65		3.26
Global Bond Fund		Institutional		1,000.00		1,015.20		0.56		2.80
		Investor		1,000.00		1,013.90		0.86		4.30
Impact Bond Fund(3)		Institutional		1,000.00		993.50		0.50		2.10
		Investor		1,000.00		992.50		0.79		3.32
Defensive Market Strategies® Fund		Institutional		1,000.00		1,069.20		0.66		3.37
		Investor		1,000.00		1,068.10		0.92		4.73
Impact Equity Fund(3)		Institutional		1,000.00		1,072.00		0.87		3.82
		Investor		1,000.00		1,070.00		1.21		5.28
Equity Index Fund		Institutional		1,000.00		1,168.30		0.12		0.66
		Investor		1,000.00		1,166.70		0.39		2.08
Value Equity Index Fund		Institutional		1,000.00		1,054.20		0.20		1.02
		Investor		1,000.00		1,052.60		0.47		2.39
Value Equity Fund		Institutional		1,000.00		1,046.30		0.66		3.34
		Investor		1,000.00		1,044.50		0.92		4.66
Growth Equity Index Fund		Institutional		1,000.00		1,285.60		0.20		1.13
		Investor		1,000.00		1,283.20		0.47		2.66
Growth Equity Fund		Institutional		1,000.00		1,290.60		0.66		3.75
		Investor		1,000.00		1,289.00		0.92		5.23
Small Cap Equity Fund		Institutional		1,000.00		1,067.40		0.92		4.73
		Investor		1,000.00		1,066.10		1.19		6.10
International Equity Index Fund		Institutional		1,000.00		1,120.60		0.20		1.05
		Investor		1,000.00		1,119.30		0.50		2.63
International Equity Fund(4)		Institutional		1,000.00		1,124.30		0.85		4.48
		Investor		1,000.00		1,122.70		1.12		5.90
Emerging Markets Equity Fund		Institutional		1,000.00		1,073.10		1.08		5.56
		Investor		1,000.00		1,072.10		1.37		7.06
Global Real Estate Securities Fund		Institutional		1,000.00		1,029.20		0.82		4.13
		Investor		1,000.00		1,026.40		1.11		5.58
Strategic Alternatives Fund(4)		Institutional		1,000.00		1,017.30		1.15		5.75
		Investor		1,000.00		1,015.40		1.45		7.26

    

    

6

Hypothetical (assuming a 5% return before expenses)
Fund		Class		Beginning Account Value 01/01/23		Ending Account Value 06/30/23		Annualized Expense Ratio(1)		Expenses Paid During Period(2)
MyDestination 2015 Fund		Institutional		$1,000.00		$1,024.25		0.11%		$0.55
		Investor		1,000.00		1,022.86		0.39		1.96
MyDestination 2025 Fund		Institutional		1,000.00		1,024.30		0.10		0.50
		Investor		1,000.00		1,022.94		0.37		1.87
MyDestination 2035 Fund		Institutional		1,000.00		1,024.27		0.11		0.53
		Investor		1,000.00		1,022.96		0.37		1.86
MyDestination 2045 Fund		Institutional		1,000.00		1,024.20		0.12		0.61
		Investor		1,000.00		1,022.93		0.38		1.89
MyDestination 2055 Fund		Institutional		1,000.00		1,024.05		0.15		0.75
		Investor		1,000.00		1,022.71		0.42		2.11
Conservative Allocation Fund		Institutional		1,000.00		1,024.01		0.16		0.80
		Investor		1,000.00		1,022.77		0.41		2.05
Balanced Allocation Fund		Institutional		1,000.00		1,024.16		0.13		0.64
		Investor		1,000.00		1,022.91		0.38		1.90
Growth Allocation Fund		Institutional		1,000.00		1,024.15		0.13		0.65
		Investor		1,000.00		1,022.89		0.38		1.92
Aggressive Allocation Fund		Institutional		1,000.00		1,024.14		0.13		0.66
		Investor		1,000.00		1,022.90		0.38		1.92
Money Market Fund		Institutional		1,000.00		1,024.08		0.14		0.72
		Investor		1,000.00		1,022.78		0.41		2.04
Low-Duration Bond Fund		Institutional		1,000.00		1,023.16		0.33		1.65
		Investor		1,000.00		1,021.83		0.60		3.00
Medium-Duration Bond Fund		Institutional		1,000.00		1,022.91		0.38		1.91
		Investor		1,000.00		1,021.57		0.65		3.26
Global Bond Fund		Institutional		1,000.00		1,022.02		0.56		2.81
		Investor		1,000.00		1,020.52		0.86		4.32
Impact Bond Fund(3)		Institutional		1,000.00		1,018.99		0.50		2.13
		Investor		1,000.00		1,017.76		0.79		3.36
Defensive Market Strategies® Fund		Institutional		1,000.00		1,021.54		0.66		3.29
		Investor		1,000.00		1,020.22		0.92		4.62
Impact Equity Fund(3)		Institutional		1,000.00		1,017.41		0.87		3.72
		Investor		1,000.00		1,015.99		1.21		5.15
Equity Index Fund		Institutional		1,000.00		1,024.19		0.12		0.61
		Investor		1,000.00		1,022.87		0.39		1.95
Value Equity Index Fund		Institutional		1,000.00		1,023.80		0.20		1.00
		Investor		1,000.00		1,022.46		0.47		2.36
Value Equity Fund		Institutional		1,000.00		1,021.53		0.66		3.30
		Investor		1,000.00		1,020.24		0.92		4.60
Growth Equity Index Fund		Institutional		1,000.00		1,023.80		0.20		1.00
		Investor		1,000.00		1,022.46		0.47		2.36
Growth Equity Fund		Institutional		1,000.00		1,021.52		0.66		3.31
		Investor		1,000.00		1,020.23		0.92		4.61
Small Cap Equity Fund		Institutional		1,000.00		1,020.22		0.92		4.62
		Investor		1,000.00		1,018.89		1.19		5.96

7

About Your Expenses (Unaudited) (Continued)

Hypothetical (assuming a 5% return before expenses)
Fund		Class		Beginning Account Value 01/01/23		Ending Account Value 06/30/23		Annualized Expense Ratio(1)		Expenses Paid During Period(2)
International Equity Index Fund		Institutional		$1,000.00		$1,023.80		0.20%		$1.01
		Investor		1,000.00		1,022.31		0.50		2.51
International Equity Fund(4)		Institutional		1,000.00		1,020.57		0.85		4.26
		Investor		1,000.00		1,019.24		1.12		5.61
Emerging Markets Equity Fund		Institutional		1,000.00		1,019.43		1.08		5.42
		Investor		1,000.00		1,017.98		1.37		6.87
Global Real Estate Securities Fund		Institutional		1,000.00		1,020.73		0.82		4.11
		Investor		1,000.00		1,019.29		1.11		5.56
Strategic Alternatives Fund(4)		Institutional		1,000.00		1,019.10		1.15		5.75
		Investor		1,000.00		1,017.59		1.45		7.27

    

(1) Expenses include the effect of contractual waivers by GuideStone Capital Management, LLC. The Target Date Funds’ and the Target Risk Funds’ proportionate share of the operating expenses of the Select Funds is not reflected in the tables above.
(2) Expenses are equal to the Fund’s annualized expense ratios for the period January 1, 2023, through June 30, 2023, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).
(3) The expenses for Impact Equity Fund and Impact Bond Fund are equal to the funds' annualized expense ratios for the period January 27, 2023, through June 30, 2023, multiplied by the average account value over the period, multiplied by 154/365.
(4) The expense ratios for International Equity Fund and Strategic Alternatives Fund include the impact of dividend or interest expense on securities sold short.

8

ABBREVIATIONS, FOOTNOTES AND INDEX DEFINITIONS

9

ABBREVIATIONS, FOOTNOTES AND INDEX DEFINITIONS

ABBREVIATIONS, FOOTNOTES AND INDEX DEFINITIONS

INDEX DEFINITIONS:

The Bloomberg Global Aggregate Bond Index is a flagship measure of global investment grade debt from 24 local currency markets. This multi-currency benchmark includes treasury, government-related, corporate and securitized fixed-rate bonds from both developed and emerging markets issuers.

The Bloomberg US Aggregate Bond Index is a broad-based flagship benchmark that measures the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market. The index includes Treasuries, government-related and corporate securities, MBS (agency fixed-rate and hybrid ARM pass- throughs), ABS and CMBS (agency and non-agency).

The Bloomberg US Corporate High Yield 2% Issuer Capped Bond Index is an issuer- constrained version of the flagship US Corporate High Yield Index, which measures the USD-denominated, high yield, fixed-rate corporate bond market. The index follows the same rules as the uncapped version, but limits the exposure of each issuer to 2% of the total market value and redistributes any excess market value index-wide on a pro rata basis.

The Bloomberg Global Aggregate Bond Index (USD-Hedged) is a flagship measure of global investment grade debt from 24 local currency markets. This benchmark includes treasury, government-related, corporate and securitized fixed-rate bonds from both developed and emerging markets issuers. All foreign currency exposure is hedged back to USD.

The FTSE EPRA/NAREIT Developed Index is designed to track the performance of listed real estate companies and REITS worldwide. By making the index constituents free-float adjusted and liquidity, size and revenue screened, the series is suitable for use as the basis for investment products.

The Bloomberg US Treasury: 1-3 Year Index measures US dollar-denominated, fixed-rate, nominal debt issued by the US Treasury with 1-2.999 years to maturity.  Treasury bills are excluded by the maturity constraint, but are part of a separate Short Treasury Index. STRIPS are excluded from the index because their inclusion would result in double-counting. (Future Ticker: I00055US)

The Bloomberg 1-3 Month US Treasury Bill Index tracks the market for treasury bills with 1 to 2.9999 months to maturity issued by the US government. US Treasury bills are issued in fixed maturity terms of 4-, 13-, 26- and 52-weeks. (Future Ticker: I00078US)

The J.P. Morgan Emerging Markets Bond Index (EMBI) Plus is a traditional, market-capitalization weighted index comprised of U.S. dollar denominated Brady bonds, Eurobonds and traded loans issued by sovereign entities.

The MSCI ACWI (All Country World Index) Index is a free float-adjusted market capitalization index that is designed to measure equity market performance in the global developed and emerging markets.

The MSCI ACWI (All Country World Index) ex USA Index is a free float-adjusted market capitalization index that is designed to measure equity market performance in the global developed (excluding U.S.) and emerging markets.

The MSCI EAFE Index is a free float-adjusted market capitalization index that is designed to measure equity market performance of developed markets, excluding the U.S. & Canada. The index consists of the following 21 developed market country indices: Australia, Austria, Belgium, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, the Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, and the United Kingdom.

The MSCI Emerging Markets Index is a free float-adjusted market capitalization index that is designed to measure equity market performance of emerging markets. The index consists of the following 24 emerging market country indices: Brazil, Chile, China, Colombia, Czech Republic, Egypt, Greece, Hungary, India, Indonesia, Korea, Kuwait, Malaysia, Mexico, Peru, Philippines, Poland, Qatar, Saudi Arabia, South Africa, Taiwan, Thailand, Turkey, and United Arab Emirates.

The MSCI ACWI Growth Index captures large and mid cap securities exhibiting overall growth style characteristics across 23 Developed Markets (DM) countries and 24 Emerging Markets (EM) countries. The growth investment style characteristics for index construction are defined using five variables: long-term forward EPS growth rate, short-term forward EPS growth rate, current internal growth rate, long-term historical EPS growth trend and long-term historical sales per share growth trend.

The Russell 1000® Growth Index is a large-cap index consisting of those Russell 1000® Index securities with greater-than-average growth orientation. Companies in this index tend to exhibit higher price-to- book and price-to-earnings-ratios, lower dividend yields and higher forecasted growth values than the value universe.

The Russell 1000® Value Index is a large-cap index consisting of those Russell 1000® Index securities with a less-than-average growth orientation. Companies in this index tend to exhibit lower price-to-book and price-to-earnings ratios, higher dividend yields and lower forecasted growth values than the growth universe.

11

ABBREVIATIONS, FOOTNOTES AND INDEX DEFINITIONS

The Russell 2000® Index measures the performance of the small-cap segment of the U.S. equity universe. The Russell 2000® Index is a subset of the Russell 3000® Index representing approximately 10% of the total market capitalization of that index. It includes approximately 2,000 of the smallest securities based on a combination of their market cap and current index membership. The Russell 2000® Index is constructed to provide a comprehensive and unbiased small-cap barometer and is completely reconstituted annually to ensure that larger stocks do not distort the performance and characteristics of the actual small-cap opportunity set.

The Russell 3000® Index is composed of approximately 3,000 large U.S. companies. This portfolio of securities represents approximately 98% of the investable U.S. equity market.

The S&P 500® Index is a market capitalization-weighted equity index composed of approximately 500 U.S. companies representing all major industries. The index is designed to measure performance of the broad domestic economy through changes in the aggregate market value of its constituents.

12

INDEX DISCLAIMERS

“Bloomberg^®”, Bloomberg Global Aggregate Bond Index, Bloomberg US Aggregate Bond Index, Bloomberg US Corporate High Yield 2% Issuer Capped Bond Index, Bloomberg Global Aggregate Bond Index (USD-Hedged), Bloomberg US Treasury 1-3 Year Index, and Bloomberg 1-3 Month US Treasury Bill Index are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (“BISL”), the administrator of the index (collectively, “Bloomberg”) and have been licensed for use for certain purposes by GuideStone Funds. Bloomberg is not affiliated with GuideStone Funds, and Bloomberg does not approve, endorse, review, or recommend GuideStone Funds. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to GuideStone Funds.

GuideStone Funds are not in any way connected to or sponsored, endorsed, sold or promoted by the London Stock Exchange Group plc and its group undertakings, including FTSE International Limited (collectively, the “LSE Group”), European Public Real Estate Association (“EPRA”), or the National Association of Real Estate Investments Trusts (Nareit) (and together the “Licensor Parties”). FTSE Russell is a trading name of certain of the LSE Group Companies. All rights in the FTSE Russell Indexes vest in the Licensor Parties. “FTSE^®” and “FTSE Russell^®” are a trademark(s) of the relevant LSE Group company and are used by any other LSE Group company under license. “Nareit^®” is a trademark of Nareit, “EPRA^®” is a trademark of EPRA and all are used by the LSE Group under license. The FTSE Russell Indexes are calculated by or on behalf of FTSE International Limited or its affiliate, agent or partner. The Licensor Parties do not accept any liability whatsoever to any person arising out of (a) the use of, reliance on or any error in the FTSE Russell Indexes or (b) investment in or operation of the GuideStone Funds. The Licensor Parties make no claim, prediction, warranty or representation either as to the results to be obtained from the GuideStone Funds or the suitability of the FTSE Russell Indexes for the purpose to which it is being put by GuideStone Funds.

The funds or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The prospectus contains a more detailed description of the limited relationship MSCI has with GuideStone Funds. Neither MSCI nor any other party involved in or related to compiling, computing or creating the MSCI data makes any express or implied warranties or representations with respect to such data (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any of such data. Without limiting any of the foregoing, in no event shall MSCI, any of its affiliates or any third party involved in or related to compiling, computing or creating the data have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages. No further distribution or dissemination of the MSCI data is permitted without MSCI’s express written consent.

“Standard & Poor’s^®”, “S&P^®”, and “S&P 500^®” are trademarks of The McGraw-Hill Companies, Inc. and have been licensed for use by GuideStone Funds. The Funds are not sponsored, endorsed, sold or promoted by Standard & Poor’s and Standard & Poor’s makes no representation regarding the advisability of investing in the Funds.

13

MYDESTINATION 2015 FUND

MYDESTINATION 2025 FUND

See Notes to Financial Statements.

15

MYDESTINATION 2035 FUND

MYDESTINATION 2045 FUND

See Notes to Financial Statements.

17

MYDESTINATION 2045 FUND

SCHEDULE OF INVESTMENTS (Continued)

VALUATION HIERARCHY

The following is a summary of the inputs used, as of June 30, 2023, in valuing the Fund’s investments carried at fair value:

	Total Value		Level 1 Quoted Prices		Level 2 Other Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets:
Investments in Securities:
Money Market Funds	$ 30,954,952		$ 30,954,952		$ —		$ —
Mutual Funds	1,191,425,300		1,191,425,300		—		—
Total Assets - Investments in Securities	$1,222,380,252		$1,222,380,252		$  —		$  —
Other Financial Instruments***
Futures Contracts	$ 64,456		$ 64,456		$ —		$ —
Total Assets - Other Financial Instruments	$ 64,456		$ 64,456		$  —		$  —
Liabilities:
Other Financial Instruments***
Futures Contracts	$ (1,118)		$ (1,118)		$ —		$ —
Total Liabilities - Other Financial Instruments	$ (1,118)		$ (1,118)		$  —		$  —

    

***	Other financial instruments are derivative instruments, such as futures contracts, which are valued at the unrealized appreciation (depreciation) on the investment. Further details regarding the value of these investments can be found in the preceding "Futures Contracts outstanding" disclosure.

MYDESTINATION 2055 FUND

See Notes to Financial Statements.

19

MYDESTINATION 2055 FUND

SCHEDULE OF INVESTMENTS (Continued)

VALUATION HIERARCHY

The following is a summary of the inputs used, as of June 30, 2023, in valuing the Fund’s investments carried at fair value:

	Total Value		Level 1 Quoted Prices		Level 2 Other Significant Observable Inputs		Level 3 Significant Unobservable Inputs
Assets:
Investments in Securities:
Money Market Funds	$ 15,266,020		$ 15,266,020		$ —		$ —
Mutual Funds	531,946,536		531,946,536		—		—
Total Assets - Investments in Securities	$547,212,556		$547,212,556		$  —		$  —
Other Financial Instruments***
Futures Contracts	$ 51,141		$ 51,141		$ —		$ —
Total Assets - Other Financial Instruments	$ 51,141		$ 51,141		$  —		$  —
Liabilities:
Other Financial Instruments***
Futures Contracts	$ (722)		$ (722)		$ —		$ —
Total Liabilities - Other Financial Instruments	$ (722)		$ (722)		$  —		$  —

    

***	Other financial instruments are derivative instruments, such as futures contracts, which are valued at the unrealized appreciation (depreciation) on the investment. Further details regarding the value of these investments can be found in the preceding "Futures Contracts outstanding" disclosure.

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21

STATEMENTS OF ASSETS AND LIABILITIES

June 30, 2023 (Unaudited)

	MyDestination 2015 Fund		MyDestination 2025 Fund
Assets
Investments in securities of unaffiliated issuers, at value	$ 46,410,959		$ 68,970,339
Investments in securities of affiliated issuers, at value	616,864,835		1,665,113,251
Total investments, at value(1)	663,275,794		1,734,083,590
Deposits with broker for futures contracts	—		—
Receivables:
Dividends	39,974		107,150
Interest	165,961		237,372
Investment securities sold	1,545,785		—
Fund shares sold	73,571		699,795
Variation margin on futures contracts	—		—
Prepaid expenses and other assets	32,662		47,155
Total Assets	665,133,747		1,735,175,062
Liabilities
Cash Overdraft	499,457		—
Payables:
Investment securities purchased	1,034,229		3,415,058
Fund shares redeemed	83,295		36,691
Accrued expenses:
Investment advisory fees	43,856		116,095
Shareholder servicing fees	87,068		215,615
Trustee fees	2,465		4,486
Other expenses	39,854		51,696
Total Liabilities	1,790,224		3,839,641
Net Assets	$663,343,523		$1,731,335,421
Net Assets Consist of:
Paid-in-capital	$688,407,859		$1,740,199,918
Distributable earnings (loss)	(25,064,336)		(8,864,497)
Net Assets	$663,343,523		$1,731,335,421
Net Asset Value:
$0.001 par value, unlimited shares authorized
Net assets applicable to the Institutional Class	$237,268,871		$ 671,451,506
Institutional shares outstanding	24,879,620		67,899,336
Net asset value, offering and redemption price per Institutional share	$ 9.54		$ 9.89
Net assets applicable to the Investor Class	$426,074,652		$1,059,883,915
Investor shares outstanding	44,741,498		107,256,764
Net asset value, offering and redemption price per Investor share	$ 9.52		$ 9.88
(1)Investments in securities of unaffiliated issuers, at cost	$ 52,399,879		$ 76,134,116
Investments in securities of affiliated issuers, at cost	639,145,555		1,676,574,603
Total investments, at cost	$691,545,434		$1,752,708,719

MyDestination 2035 Fund		MyDestination 2045 Fund		MyDestination 2055 Fund
$ —		$ 6,090,818		$ —
1,551,449,428		1,216,289,434		547,212,556
1,551,449,428		1,222,380,252		547,212,556
—		267,000		170,000
132,088		85,198		46,170
—		15,969		—
—		50,000		—
719,994		129,529		413,176
—		64,688		41,556
45,619		40,889		27,970
1,552,347,129		1,223,033,525		547,911,428
—		—		—
687,030		116,430		431,750
30,046		141,665		21,101
102,339		96,173		49,489
177,767		137,249		59,060
3,575		2,938		2,350
46,998		43,752		38,112
1,047,755		538,207		601,862
$1,551,299,374		$1,222,495,318		$547,309,566
$1,494,325,640		$1,120,413,129		$508,209,719
56,973,734		102,082,189		39,099,847
$1,551,299,374		$1,222,495,318		$547,309,566
$ 673,862,904		$ 539,861,189		$252,053,805
65,574,732		51,518,097		16,839,054
$ 10.28		$ 10.48		$ 14.97
$ 877,436,470		$ 682,634,129		$295,255,761
85,532,831		65,302,734		19,798,800
$ 10.26		$ 10.45		$ 14.91
$ —		$ 6,090,818		$ —
1,513,607,568		1,129,957,452		510,817,399
$1,513,607,568		$1,136,048,270		$510,817,399

See Notes to Financial Statements.

23

STATEMENTS OF OPERATIONS

For the Six Months Ended June 30, 2023 (Unaudited)

	MyDestination 2015 Fund
Investment Income
Dividends	$ 1,990
Income distributions received from affiliated funds	6,472,207
Interest	737,235
Total Investment Income	7,211,432
Expenses
Investment advisory fees	347,288
Transfer agent fees:
Institutional shares	1,838
Investor shares	9,600
Custodian fees	7,511
Shareholder servicing fees:
Investor shares	522,521
Accounting and administration fees	11,115
Professional fees	44,203
Blue sky fees:
Institutional shares	7,277
Investor shares	8,548
Trustees expenses	2,637
Line of credit facility fees	1,299
Other expenses	25,077
Recoupment of prior expenses reduced by the Advisor	11,741
Total Expenses	1,000,655
Expenses waived/reimbursed(1)	(74,148)
Net Expenses	926,507
Net Investment Income	6,284,925
Realized and Unrealized Gain (Loss)
Capital gain distributions received from affiliated funds	23,075
Net realized gain on investment securities of affiliated issuers	1,043,578
Net realized loss on investment securities of unaffiliated issuers	(495,309)
Net realized gain on futures transactions	—
Net realized gain	571,344
Change in unrealized appreciation (depreciation) on investment securities of affiliated issuers	30,774,748
Change in unrealized appreciation (depreciation) on investment securities of unaffiliated issuers	696,771
Change in unrealized appreciation (depreciation) on futures	—
Net change in unrealized appreciation (depreciation)	31,471,519
Net Realized and Unrealized Gain	32,042,863
Net Increase in Net Assets Resulting from Operations	$38,327,788

    

(1)	See Note 3c in Notes to Financial Statements.

MyDestination 2025 Fund		MyDestination 2035 Fund		MyDestination 2045 Fund		MyDestination 2055 Fund
$ 3,899		$ 203		$ —		$ —
16,173,308		12,370,915		7,293,600		2,935,077
1,021,951		990		16,676		—
17,199,158		12,372,108		7,310,276		2,935,077
864,281		727,566		561,673		244,075
1,873		1,885		1,847		1,844
15,259		12,154		10,044		9,352
11,891		10,512		9,247		6,646
1,286,340		1,040,833		794,568		336,273
27,012		23,564		18,395		8,494
44,358		44,318		44,266		44,170
7,773		7,776		7,773		6,287
7,971		8,000		8,090		4,781
4,842		3,961		3,244		2,672
3,309		2,846		2,179		932
42,468		42,219		35,776		28,484
57,902		61,237		20,334		64,068
2,375,279		1,986,871		1,517,436		758,078
(157,000)		(103,029)		(25,507)		(26,326)
2,218,279		1,883,842		1,491,929		731,752
14,980,879		10,488,266		5,818,347		2,203,325
75,069		88,628		83,730		39,594
(658,843)		7,836,134		6,176,775		675,089
(613,573)		—		—		—
—		38,842		94,678		61,657
(1,197,347)		7,963,604		6,355,183		776,340
103,828,060		116,147,132		112,661,982		54,129,665
564,231		—		—		—
—		—		63,338		50,419
104,392,291		116,147,132		112,725,320		54,180,084
103,194,944		124,110,736		119,080,503		54,956,424
$118,175,823		$134,599,002		$124,898,850		$57,159,749

See Notes to Financial Statements.

25

STATEMENTS OF CHANGES IN NET ASSETS

	MyDestination 2015 Fund				MyDestination 2025 Fund
	For the Six Months Ended		For the Year Ended		For the Six Months Ended		For the Year Ended
	06/30/23		12/31/22		06/30/23		12/31/22
	(Unaudited)				(Unaudited)
Operations:
Net investment income	$ 6,284,925		$ 10,845,126		$ 14,980,879		$ 24,257,121
Net realized gain (loss) on investment securities and futures transactions	571,344		19,688,884		(1,197,347)		55,603,730
Net change in unrealized appreciation (depreciation) on investment securities and futures	31,471,519		(125,494,870)		104,392,291		(333,050,758)
Net increase (decrease) in net assets resulting from operations	38,327,788		(94,960,860)		118,175,823		(253,189,907)
Distributions to Shareholders:
Distributions paid
Institutional shares	—		(16,080,809)		—		(43,588,582)
Investor shares	—		(28,848,121)		—		(70,624,252)
Return of capital
Institutional shares	—		—		—		—
Investor shares	—		—		—		—
Total distributions	—		(44,928,930)		—		(114,212,834)
Capital Share Transactions:
Proceeds from shares sold
Institutional shares	11,812,841		82,394,063		44,988,754		207,115,538
Investor shares	13,227,804		31,683,118		28,691,369		63,627,566
Reinvestment of dividends and distributions
Institutional shares	—		16,080,809		—		43,588,581
Investor shares	—		28,844,637		—		70,616,203
Total proceeds from shares sold and reinvested	25,040,645		159,002,627		73,680,123		384,947,888
Value of shares redeemed
Institutional shares	(12,548,675)		(39,514,382)		(25,862,754)		(49,720,875)
Investor shares	(29,315,177)		(84,460,063)		(59,976,528)		(129,197,425)
Total value of shares redeemed	(41,863,852)		(123,974,445)		(85,839,282)		(178,918,300)
Net increase (decrease) from capital share transactions(1)	(16,823,207)		35,028,182		(12,159,159)		206,029,588
Total increase (decrease) in net assets	21,504,581		(104,861,608)		106,016,664		(161,373,153)
Net Assets:
Beginning of Period	641,838,942		746,700,550		1,625,318,757		1,786,691,910
End of Period	$663,343,523		$ 641,838,942		$1,731,335,421		$1,625,318,757

    

(1)	See Note 6 in Notes to Financial Statements.

MyDestination 2035 Fund				MyDestination 2045 Fund				MyDestination 2055 Fund
For the Six Months Ended		For the Year Ended		For the Six Months Ended		For the Year Ended		For the Six Months Ended		For the Year Ended
06/30/23		12/31/22		06/30/23		12/31/22		06/30/23		12/31/22
(Unaudited)				(Unaudited)				(Unaudited)
$ 10,488,266		$ 18,683,072		$ 5,818,347		$ 14,305,140		$ 2,203,325		$ 5,780,213
7,963,604		45,442,728		6,355,183		29,778,397		776,340		9,297,519
116,147,132		(299,032,541)		112,725,320		(239,035,644)		54,180,084		(95,245,484)
134,599,002		(234,906,741)		124,898,850		(194,952,107)		57,159,749		(80,167,752)
—		(40,255,248)		—		(29,062,734)		—		(10,818,466)
—		(54,166,932)		—		(38,904,804)		—		(14,434,971)
—		—		—		—		—		—
—		—		—		—		—		—
—		(94,422,180)		—		(67,967,538)		—		(25,253,437)
53,816,048		190,049,365		54,981,898		106,471,021		45,445,302		46,662,378
39,683,655		72,523,171		38,363,292		63,610,295		30,167,142		53,121,148
—		40,255,248		—		29,062,734		—		10,818,466
—		54,164,673		—		38,904,777		—		14,434,761
93,499,703		356,992,457		93,345,190		238,048,827		75,612,444		125,036,753
(9,952,451)		(26,310,624)		(6,159,055)		(17,866,622)		(2,723,226)		(9,223,921)
(40,752,755)		(57,055,100)		(32,640,780)		(28,923,819)		(22,088,051)		(12,355,242)
(50,705,206)		(83,365,724)		(38,799,835)		(46,790,441)		(24,811,277)		(21,579,163)
42,794,497		273,626,733		54,545,355		191,258,386		50,801,167		103,457,590
177,393,499		(55,702,188)		179,444,205		(71,661,259)		107,960,916		(1,963,599)
1,373,905,875		1,429,608,063		1,043,051,113		1,114,712,372		439,348,650		441,312,249
$1,551,299,374		$1,373,905,875		$1,222,495,318		$1,043,051,113		$547,309,566		$439,348,650

See Notes to Financial Statements.

27

FINANCIAL HIGHLIGHTS (Unaudited)

For a Share Outstanding For the Years Ending December 31, unless otherwise indicated																Ratios to Average Net Assets
		Net Asset Value, Beginning of Period	Net Investment Income#(1)	Realized and Unrealized Gain (Loss) on Investments		Total Income From Investment Operations	Dividends from Net Investment Income	Distributions from Net Realized Capital Gains	Total Distributions Paid	Net Asset Value, End of Period		Total Return		Net Assets, End of Period (000)		Expenses, Net(2)		Expenses, Gross(2)		Investment Income, Net(1)	Portfolio Turnover Rate
MyDestination 2015 Fund
Institutional Class
2023(3)		$ 8.99	$0.10	$ 0.45		$ 0.55	$ —	$ —	$ —	$ 9.54		6.12%		$ 237,269		0.11%		0.15%		2.12%	9%
2022		11.09	0.19	(1.61)		(1.42)	(0.19)	(0.49)	(0.68)	8.99		(12.87)		224,236		0.11		0.15		1.91	21
2021		10.95	0.17	0.59		0.76	(0.26)	(0.36)	(0.62)	11.09		6.98		207,506		0.12		0.14		1.46	17
2020		10.40	0.16	0.82		0.98	(0.22)	(0.21)	(0.43)	10.95		9.41		169,812		0.06		0.14		1.58	23
2019		9.40	0.25	1.19		1.44	(0.28)	(0.16)	(0.44)	10.40		15.32		142,900		0.06		0.13		2.48	7
2018		10.37	0.20	(0.54)		(0.34)	(0.38)	(0.25)	(0.63)	9.40		(3.33)		104,300		0.13		0.15		1.91	32
Investor Class
2023(3)		$ 8.98	$0.09	$ 0.45		$ 0.54	$ —	$ —	$ —	$ 9.52		6.01%		$ 426,075		0.39%		0.40%		1.84%	9%
2022		11.09	0.15	(1.60)		(1.45)	(0.17)	(0.49)	(0.66)	8.98		(13.10)		417,603		0.36		0.40		1.50	21
2021		10.95	0.13	0.60		0.73	(0.23)	(0.36)	(0.59)	11.09		6.72		539,194		0.37		0.39		1.15	17
2020		10.40	0.13	0.82		0.95	(0.19)	(0.21)	(0.40)	10.95		9.16		528,088		0.31		0.39		1.29	23
2019		9.40	0.21	1.21		1.42	(0.26)	(0.16)	(0.42)	10.40		15.09		524,696		0.31		0.38		2.09	7
2018		10.38	0.17	(0.55)		(0.38)	(0.35)	(0.25)	(0.60)	9.40		(3.66)		496,209		0.37		0.39		1.67	32
MyDestination 2025 Fund
Institutional Class
2023(3)		$ 9.21	$0.09	$ 0.59		$ 0.68	$ —	$ —	$ —	$ 9.89		7.38%		$ 671,451		0.10%		0.13%		1.97%	10%
2022		11.53	0.18	(1.80)		(1.62)	(0.17)	(0.53)	(0.70)	9.21		(14.11)		606,791		0.11		0.13		1.76	14
2021		11.10	0.16	0.85		1.01	(0.28)	(0.30)	(0.58)	11.53		9.17		524,604		0.12		0.13		1.41	9
2020		10.42	0.17	0.97		1.14	(0.22)	(0.24)	(0.46)	11.10		10.95		449,798		0.08		0.12		1.60	19
2019		9.15	0.25	1.44		1.69	(0.27)	(0.15)	(0.42)	10.42		18.45		361,408		0.09		0.12		2.43	5
2018		10.25	0.18	(0.66)		(0.48)	(0.28)	(0.34)	(0.62)	9.15		(4.64)		250,202		0.12		0.13		1.80	37
Investor Class
2023(3)		$ 9.21	$0.08	$ 0.59		$ 0.67	$ —	$ —	$ —	$ 9.88		7.28%		$1,059,884		0.37%		0.38%		1.68%	10%
2022		11.54	0.14	(1.79)		(1.65)	(0.15)	(0.53)	(0.68)	9.21		(14.40)		1,018,527		0.36		0.38		1.34	14
2021		11.11	0.13	0.85		0.98	(0.25)	(0.30)	(0.55)	11.54		8.91		1,262,088		0.37		0.38		1.15	9
2020		10.43	0.14	0.97		1.11	(0.19)	(0.24)	(0.43)	11.11		10.69		1,118,397		0.34		0.38		1.31	19
2019		9.16	0.21	1.45		1.66	(0.24)	(0.15)	(0.39)	10.43		18.18		1,048,140		0.34		0.37		2.06	5
2018		10.26	0.15	(0.65)		(0.50)	(0.26)	(0.34)	(0.60)	9.16		(4.87)		888,153		0.36		0.38		1.51	37
MyDestination 2035 Fund
Institutional Class
2023(3)		$ 9.36	$0.08	$ 0.84		$ 0.92	$ —	$ —	$ —	$10.28		9.83%		$ 673,863		0.11%		0.13%		1.61%	3%
2022		12.00	0.17	(2.11)		(1.94)	(0.16)	(0.54)	(0.70)	9.36		(16.26)		572,407		0.13		0.13		1.67	11
2021		11.19	0.17	1.32		1.49	(0.30)	(0.38)	(0.68)	12.00		13.29		488,921		0.12		0.12		1.43	10
2020		10.22	0.16	1.18		1.34	(0.19)	(0.18)	(0.37)	11.19		13.15		379,986		0.14		0.14		1.61	11
2019		8.65	0.24	1.70		1.94	(0.24)	(0.13)	(0.37)	10.22		22.47		266,012		0.13		0.13		2.41	4
2018		9.95	0.15	(0.80)		(0.65)	(0.29)	(0.36)	(0.65)	8.65		(6.56)		173,573		0.13		0.14		1.54	50
Investor Class
2023(3)		$ 9.36	$0.06	$ 0.84		$ 0.90	$ —	$ —	$ —	$10.26		9.62%		$ 877,436		0.37%		0.38%		1.32%	3%
2022		12.00	0.13	(2.10)		(1.97)	(0.13)	(0.54)	(0.67)	9.36		(16.46)		801,499		0.38		0.38		1.22	11
2021		11.19	0.14	1.32		1.46	(0.27)	(0.38)	(0.65)	12.00		13.04		940,687		0.38		0.38		1.16	10
2020		10.22	0.13	1.19		1.32	(0.17)	(0.18)	(0.35)	11.19		12.90		765,874		0.39		0.39		1.29	11
2019		8.65	0.20	1.72		1.92	(0.22)	(0.13)	(0.35)	10.22		22.16		662,810		0.39		0.39		2.01	4
2018		9.96	0.12	(0.80)		(0.68)	(0.27)	(0.36)	(0.63)	8.65		(6.89)		514,670		0.38		0.39		1.25	50

    

#	Calculated using the average shares outstanding method.
(1)	Recognition of net investment income by the Fund is affected by the timing of the declaration of dividends by the underlying investment companies in which the Fund invests.
(2)	Does not include expenses of the investment companies in which the Fund invests. Acquired fund fees and expenses (i.e., the fees and expenses incurred by the underlying funds) for the MyDestination 2015 Fund, MyDestination 2025 Fund, MyDestination 2035 Fund, MyDestination 2045 Fund and MyDestination 2055 Fund were 0.36%, 0.38%, 0.37%, 0.34% and 0.33%, respectively, for 2023. These acquired fund fees and expenses impact the net asset value of the underlying funds in which each Fund invests, and therefore the effect of the acquired fund fees and expenses is reflected in each Fund's total return.
(3)	For the six months ended June 30, 2023, all ratios have been annualized with the exception of total return and portfolio turnover which have not been annualized.

    

For a Share Outstanding For the Years Ending December 31, unless otherwise indicated																Ratios to Average Net Assets
		Net Asset Value, Beginning of Period	Net Investment Income#(1)	Realized and Unrealized Gain (Loss) on Investments		Total Income From Investment Operations	Dividends from Net Investment Income	Distributions from Net Realized Capital Gains	Total Distributions Paid	Net Asset Value, End of Period		Total Return		Net Assets, End of Period (000)		Expenses, Net(2)		Expenses, Gross(2)		Investment Income, Net(1)	Portfolio Turnover Rate
MyDestination 2045 Fund
Institutional Class
2023(3)		$ 9.37	$0.06	$ 1.05		$ 1.11	$ —	$ —	$ —	$10.48		11.85%		$539,861		0.12%		0.13%		1.20%	3%
2022		12.10	0.17	(2.24)		(2.07)	(0.15)	(0.51)	(0.66)	9.37		(17.08)		437,044		0.13		0.13		1.61	7
2021		10.97	0.17	1.65		1.82	(0.30)	(0.39)	(0.69)	12.10		16.61		422,303		0.13		0.13		1.41	10
2020		9.87	0.15	1.24		1.39	(0.17)	(0.12)	(0.29)	10.97		14.06		323,697		0.14		0.14		1.58	7
2019		8.21	0.22	1.79		2.01	(0.22)	(0.13)	(0.35)	9.87		24.56		230,295		0.13		0.13		2.31	4
2018		9.60	0.13	(0.84)		(0.71)	(0.26)	(0.42)	(0.68)	8.21		(7.50)		160,533		0.14		0.15		1.36	58
Investor Class
2023(3)		$ 9.36	$0.05	$ 1.04		$ 1.09	$ —	$ —	$ —	$10.45		11.65%		$682,634		0.38%		0.38%		0.91%	3%
2022		12.09	0.13	(2.22)		(2.09)	(0.13)	(0.51)	(0.64)	9.36		(17.38)		606,007		0.38		0.38		1.25	7
2021		10.97	0.14	1.64		1.78	(0.27)	(0.39)	(0.66)	12.09		16.26		692,409		0.38		0.38		1.15	10
2020		9.87	0.12	1.24		1.36	(0.14)	(0.12)	(0.26)	10.97		13.80		553,181		0.41		0.41		1.26	7
2019		8.21	0.18	1.80		1.98	(0.19)	(0.13)	(0.32)	9.87		24.24		470,796		0.41		0.41		1.94	4
2018		9.60	0.10	(0.83)		(0.73)	(0.24)	(0.42)	(0.66)	8.21		(7.73)		357,044		0.39		0.40		1.08	58
MyDestination 2055 Fund
Institutional Class
2023(3)		$13.31	$0.08	$ 1.58		$ 1.66	$ —	$ —	$ —	$14.97		12.47%		$252,054		0.15%		0.17%		1.07%	1%
2022		17.11	0.23	(3.20)		(2.97)	(0.21)	(0.62)	(0.83)	13.31		(17.43)		184,087		0.17		0.17		1.56	7
2021		15.37	0.24	2.44		2.68	(0.42)	(0.52)	(0.94)	17.11		17.46		178,971		0.17		0.17		1.39	11
2020		13.77	0.21	1.74		1.95	(0.22)	(0.13)	(0.35)	15.37		14.23		130,214		0.16		0.18		1.58	12
2019		11.48	0.30	2.58		2.88	(0.30)	(0.29)	(0.59)	13.77		25.15		77,156		0.16		0.20		2.26	10
2018		13.45	0.19	(1.23)		(1.04)	(0.31)	(0.62)	(0.93)	11.48		(7.77)		54,326		0.18		0.24		1.40	62
Investor Class
2023(3)		$13.28	$0.05	$ 1.58		$ 1.63	$ —	$ —	$ —	$14.91		12.27%		$295,256		0.42%		0.43%		0.76%	1%
2022		17.07	0.19	(3.18)		(2.99)	(0.18)	(0.62)	(0.80)	13.28		(17.61)		255,261		0.42		0.42		1.27	7
2021		15.34	0.19	2.44		2.63	(0.38)	(0.52)	(0.90)	17.07		17.18		262,341		0.42		0.42		1.15	11
2020		13.76	0.17	1.73		1.90	(0.19)	(0.13)	(0.32)	15.34		13.85		189,213		0.42		0.44		1.27	12
2019		11.47	0.27	2.58		2.85	(0.27)	(0.29)	(0.56)	13.76		24.92		143,473		0.41		0.44		2.03	10
2018		13.45	0.15	(1.22)		(1.07)	(0.29)	(0.62)	(0.91)	11.47		(8.02)		94,392		0.39		0.49		1.08	62