All client policy is delivered in the form of an XML file from the MP and stored in WMI on the client. How each setting is ultimately enforced is setting specific though. The vast majority of settings are not group policies at all but are ConfigMgr specific and thus don't make it anywhere else (outside of WMI). Sometimes the values are stored in the registry as well, but as noted, it totally depends on the setting itself.
What challenge(s) are you trying to address?