Goldman
Sachs
Nasdaq-100
Core
Premium
Income
ETF
Schedule
of
Investments
November
30,
2023
(Unaudited)
Shares
Description
Value
aa
Common
Stocks
–
99.7%
Communication
Services
–
15.5%
2,650
Alphabet,
Inc.,
Class
A*
$
351,204
2,591
Alphabet,
Inc.,
Class
C*
346,987
143
Charter
Communications,
Inc.,
Class
A*
57,219
3,942
Comcast
Corp.,
Class
A
165,130
259
Electronic
Arts,
Inc.
35,745
1,391
Meta
Platforms,
Inc.,
Class
A*
455,066
424
Netflix,
Inc.*
200,963
3,680
Sirius
XM
Holdings,
Inc.
17,222
1,132
T-Mobile
US,
Inc.
170,309
427
Trade
Desk,
Inc.
(The),
Class
A*
30,087
2,334
Warner
Bros
Discovery,
Inc.*
24,390
1,854,322
Consumer
Discretionary
–
14.2%
408
Airbnb,
Inc.,
Class
A*
51,547
4,608
Amazon.com,
Inc.*
673,183
34
Booking
Holdings,
Inc.*
106,274
513
eBay,
Inc.
21,038
434
JD.com,
Inc.
ADR
(China)
11,905
2,177
Lucid
Group,
Inc.*
9,187
116
Lululemon
Athletica,
Inc.*
51,829
286
Marriott
International,
Inc.,
Class
A
57,972
48
MercadoLibre,
Inc.
(Brazil)*
77,782
58
O'Reilly
Automotive,
Inc.*
56,978
624
PDD
Holdings,
Inc.
ADR
(China)*
92,003
326
Ross
Stores,
Inc.
42,504
1,097
Starbucks
Corp.
108,932
1,417
Tesla,
Inc.*
340,193
1,701,327
Consumer
Staples
–
6.2%
425
Costco
Wholesale
Corp.
251,915
211
Dollar
Tree,
Inc.*
26,077
1,338
Keurig
Dr
Pepper,
Inc.
42,241
1,190
Kraft
Heinz
Co.
(The)
41,781
1,303
Mondelez
International,
Inc.,
Class
A
92,591
1,003
Monster
Beverage
Corp.*
55,315
1,328
PepsiCo,
Inc.
223,489
827
Walgreens
Boots
Alliance,
Inc.
16,490
749,899
Energy
–
0.5%
967
Baker
Hughes
Co.
32,636
171
Diamondback
Energy,
Inc.
26,404
59,040
Financials
–
0.5%
1,052
PayPal
Holdings,
Inc.
*
60,606
Health
Care
–
6.5%
73
Align
Technology,
Inc.*
15,607
512
Amgen,
Inc.
138,056
558
AstraZeneca
PLC
ADR
(United
Kingdom)
36,041
139
Biogen,
Inc.*
32,537
371
Dexcom,
Inc.*
42,858
436
GE
HealthCare
Technologies,
Inc.
29,849
Shares
Description
Value
aa
Common
Stocks
–
(continued)
Health
Care
–
(continued)
1,193
Gilead
Sciences,
Inc.
$
91,384
80
IDEXX
Laboratories,
Inc.*
37,266
151
Illumina,
Inc.*
15,394
337
Intuitive
Surgical,
Inc.*
104,753
365
Moderna,
Inc.*
28,360
102
Regeneron
Pharmaceuticals,
Inc.*
84,029
180
Seagen,
Inc.*
38,378
247
Vertex
Pharmaceuticals,
Inc.*
87,638
782,150
Industrials
–
4.8%
395
Automatic
Data
Processing,
Inc.
90,818
97
Cintas
Corp.
53,665
915
Copart,
Inc.*
45,951
1,922
CSX
Corp.
62,081
547
Fastenal
Co.
32,803
636
Honeywell
International,
Inc.
124,605
105
Old
Dominion
Freight
Line,
Inc.
40,851
501
PACCAR,
Inc.
46,002
345
Paychex,
Inc.
42,080
139
Verisk
Analytics,
Inc.
33,559
Information
Technology
–
50.0%
437
Adobe,
Inc.*
267,011
1,547
Advanced
Micro
Devices,
Inc.*
187,435
477
Analog
Devices,
Inc.
87,472
83
ANSYS,
Inc.*
24,349
6,982
Apple,
Inc.
1,326,231
801
Applied
Materials,
Inc.
119,974
83
ASML
Holding
NV
(Netherlands)
56,752
147
Atlassian
Corp.,
Class
A*
28,070
205
Autodesk,
Inc.*
44,778
395
Broadcom,
Inc.
365,663
260
Cadence
Design
Systems,
Inc.*
71,050
3,903
Cisco
Systems,
Inc.
188,827
484
Cognizant
Technology
Solutions
Corp.,
Class
A
34,064
217
Crowdstrike
Holdings,
Inc.,
Class
A*
51,427
286
Datadog,
Inc.,
Class
A*
33,339
131
Enphase
Energy,
Inc.*
13,234
752
Fortinet,
Inc.*
39,525
525
GLOBALFOUNDRIES,
Inc.*
28,187
4,011
Intel
Corp.
179,292
268
Intuit,
Inc.
153,151
131
KLA
Corp.
71,345
127
Lam
Research
Corp.
90,922
826
Marvell
Technology,
Inc.
46,033
521
Microchip
Technology,
Inc.
43,472
1,049
Micron
Technology,
Inc.
79,850
3,318
Microsoft
Corp.
1,257,223
1,103
NVIDIA
Corp.
515,873
247
NXP
Semiconductors
NV
(China)
50,408
413
ON
Semiconductor
Corp.*
29,459
293
Palo
Alto
Networks,
Inc.*
86,461
1,069
QUALCOMM,
Inc.
137,954
Goldman
Sachs
Nasdaq-100
Core
Premium
Income
ETF
Schedule
of
Investments
(continued)
November
30,
2023
(Unaudited)
**End
swaps
header**
Shares
Description
Value
aa
Common
Stocks
–
(continued)
Information
Technology
–
(continued)
146
Synopsys,
Inc.*
$
79,312
870
Texas
Instruments,
Inc.
132,858
198
Workday,
Inc.,
Class
A*
53,603
244
Zoom
Video
Communications,
Inc.,
Class
A*
16,551
140
Zscaler,
Inc.*
27,654
6,018,809
Real
Estate
–
0.3%
391
CoStar
Group,
Inc.
*
32,469
Utilities
–
1.2%
493
American
Electric
Power
Co.,
Inc.
39,218
308
Constellation
Energy
Corp.
37,280
953
Exelon
Corp.
36,700
528
Xcel
Energy,
Inc.
32,124
145,322
TOTAL
COMMON
STOCKS
(Cost
$11,150,836)
11,976,359
a
Exchange-Traded
Fund
–
0.1%
92
Invesco
Nasdaq
100
ETF
(Cost
$13,903)
14,715
Shares
Dividend
Rate
Value
aa
Investment
Company
–
0.1%
(a)
Goldman
Sachs
Financial
Square
Treasury
Obligations
Fund
–
Institutional
Shares
7,634
5.259%
7,634
(Cost
$7,634)
TOTAL
INVESTMENTS
–
99.9%
(Cost
$11,172,373)
$
11,998,708
OTHER
ASSETS
IN
EXCESS
OF
LIABILITIES
–
0.1%
16,537
NET
ASSETS
–
100.0%
$
12,015,245
a
The
percentage
shown
for
each
investment
category
reflects
the
value
of
investments
in
that
category
as
a
percentage
of
net
assets.
*
Non-income
producing
security.
(a)
Represents
an
affiliated
issuer.
Investment
Abbreviations:
ADR
—
American
Depositary
Receipt
PLC
—
Public
Limited
Company
Goldman
Sachs
S&P
500
Core
Premium
Income
ETF
Schedule
of
Investments
November
30,
2023
(Unaudited)
Shares
Description
Value
aa
Common
Stocks
–
99.9%
Communication
Services
–
8.6%
1,661
Alphabet,
Inc.,
Class
A*
$
220,132
1,413
Alphabet,
Inc.,
Class
C*
189,229
2,001
AT&T,
Inc.
33,157
28
Charter
Communications,
Inc.,
Class
A*
11,204
1,152
Comcast
Corp.,
Class
A
48,257
69
Electronic
Arts,
Inc.
9,523
59
Fox
Corp.,
Class
A
1,743
37
Fox
Corp.,
Class
B
1,023
106
Interpublic
Group
of
Cos.,
Inc.
(The)
3,258
41
Live
Nation
Entertainment,
Inc.*
3,453
78
Match
Group,
Inc.*
2,526
622
Meta
Platforms,
Inc.,
Class
A*
203,487
124
Netflix,
Inc.*
58,772
95
News
Corp.,
Class
A
2,094
32
News
Corp.,
Class
B
737
54
Omnicom
Group,
Inc.
4,354
135
Paramount
Global,
Class
B
1,940
44
Take-Two
Interactive
Software,
Inc.*
6,961
146
T-Mobile
US,
Inc.
21,966
1,177
Verizon
Communications,
Inc.
45,114
512
Walt
Disney
Co.
(The)*
47,457
621
Warner
Bros
Discovery,
Inc.*
6,490
922,877
Consumer
Discretionary
–
10.6%
119
Airbnb,
Inc.,
Class
A*
15,034
2,542
Amazon.com,
Inc.*
371,361
80
Aptiv
PLC*
6,627
4
AutoZone,
Inc.*
10,440
64
Bath
&
Body
Works,
Inc.
2,088
52
Best
Buy
Co.,
Inc.
3,689
10
Booking
Holdings,
Inc.*
31,257
66
BorgWarner,
Inc.
2,224
60
Caesars
Entertainment,
Inc.*
2,683
44
CarMax,
Inc.*
2,813
285
Carnival
Corp.*
4,292
6
Chipotle
Mexican
Grill,
Inc.*
13,214
85
D.R.
Horton,
Inc.
10,852
32
Darden
Restaurants,
Inc.
5,007
8
Domino's
Pizza,
Inc.
3,143
149
eBay,
Inc.
6,110
33
Etsy,
Inc.*
2,502
39
Expedia
Group,
Inc.*
5,311
1,100
Ford
Motor
Co.
11,286
43
Garmin
Ltd.
5,256
386
General
Motors
Co.
12,198
40
Genuine
Parts
Co.
5,311
34
Hasbro,
Inc.
1,578
73
Hilton
Worldwide
Holdings,
Inc.
12,229
281
Home
Depot,
Inc.
(The)
88,091
95
Las
Vegas
Sands
Corp.
4,381
71
Lennar
Corp.,
Class
A
9,082
76
LKQ
Corp.
3,384
164
Lowe’s
Cos.,
Inc.
32,608
31
Lululemon
Athletica,
Inc.*
13,851
70
Marriott
International,
Inc.,
Class
A
14,189
Shares
Description
Value
aa
Common
Stocks
–
(continued)
Consumer
Discretionary
–
(continued)
205
McDonald's
Corp.
$
57,777
81
MGM
Resorts
International
3,195
15
Mohawk
Industries,
Inc.*
1,325
343
NIKE,
Inc.,
Class
B
37,823
125
Norwegian
Cruise
Line
Holdings
Ltd.*
1,909
1
NVR,
Inc.*
6,155
17
O'Reilly
Automotive,
Inc.*
16,700
9
Pool
Corp.
3,126
59
PulteGroup,
Inc.
5,217
9
Ralph
Lauren
Corp.
1,164
95
Ross
Stores,
Inc.
12,386
66
Royal
Caribbean
Cruises
Ltd.*
7,092
321
Starbucks
Corp.
31,875
65
Tapestry,
Inc.
2,059
773
Tesla,
Inc.*
185,582
322
TJX
Cos.,
Inc.
(The)
28,371
29
Tractor
Supply
Co.
5,887
14
Ulta
Beauty,
Inc.*
5,964
98
VF
Corp.
1,640
15
Whirlpool
Corp.
1,634
27
Wynn
Resorts
Ltd.
2,279
78
Yum!
Brands,
Inc.
9,793
1,141,044
Consumer
Staples
–
6.4%
497
Altria
Group,
Inc.
20,894
151
Archer-Daniels-Midland
Co.
11,133
49
Brown-Forman
Corp.,
Class
B
2,878
42
Bunge
Global
SA
4,615
53
Campbell
Soup
Co.
2,130
66
Church
&
Dwight
Co.,
Inc.
6,378
34
Clorox
Co.
(The)
4,874
1,098
Coca-Cola
Co.
(The)
64,167
231
Colgate-Palmolive
Co.
18,196
134
Conagra
Brands,
Inc.
3,791
45
Constellation
Brands,
Inc.,
Class
A
10,822
124
Costco
Wholesale
Corp.
73,500
60
Dollar
General
Corp.
7,867
57
Dollar
Tree,
Inc.*
7,045
65
Estee
Lauder
Cos.,
Inc.
(The),
Class
A
8,300
164
General
Mills,
Inc.
10,440
42
Hershey
Co.
(The)
7,893
76
Hormel
Foods
Corp.
2,325
28
J
M
Smucker
Co.
(The)
3,072
72
Kellanova
3,783
482
Kenvue,
Inc.
9,852
285
Keurig
Dr
Pepper,
Inc.
8,997
95
Kimberly-Clark
Corp.
11,754
226
Kraft
Heinz
Co.
(The)
7,935
183
Kroger
Co.
(The)
8,101
41
Lamb
Weston
Holdings,
Inc.
4,101
71
McCormick
&
Co.,
Inc.
4,603
53
Molson
Coors
Beverage
Co.,
Class
B
3,262
381
Mondelez
International,
Inc.,
Class
A
27,074
208
Monster
Beverage
Corp.*
11,471
Goldman
Sachs
S&P
500
Core
Premium
Income
ETF
Schedule
of
Investments
(continued)
November
30,
2023
(Unaudited)
Shares
Description
Value
aa
Common
Stocks
–
(continued)
Consumer
Staples
–
(continued)
388
PepsiCo,
Inc.
$
65,296
435
Philip
Morris
International,
Inc.
40,612
660
Procter &
Gamble
Co.
(The)
101,323
141
Sysco
Corp.
10,176
129
Target
Corp.
17,261
81
Tyson
Foods,
Inc.,
Class
A
3,794
205
Walgreens
Boots
Alliance,
Inc.
4,088
399
Walmart,
Inc.
62,120
675,923
Energy
–
4.1%
86
APA
Corp.
3,096
285
Baker
Hughes
Co.
9,619
497
Chevron
Corp.
71,369
335
ConocoPhillips
38,716
208
Coterra
Energy,
Inc.
5,460
180
Devon
Energy
Corp.
8,095
50
Diamondback
Energy,
Inc.
7,720
163
EOG
Resources,
Inc.
20,060
101
EQT
Corp.
4,036
1,133
Exxon
Mobil
Corp.
116,404
252
Halliburton
Co.
9,332
77
Hess
Corp.
10,823
543
Kinder
Morgan,
Inc.
9,540
170
Marathon
Oil
Corp.
4,323
112
Marathon
Petroleum
Corp.
16,709
186
Occidental
Petroleum
Corp.
11,002
163
ONEOK,
Inc.
11,223
125
Phillips
66
16,111
65
Pioneer
Natural
Resources
Co.
15,057
398
Schlumberger
NV
20,712
63
Targa
Resources
Corp.
5,698
99
Valero
Energy
Corp.
12,411
340
Williams
Cos.,
Inc.
(The)
12,509
440,025
Financials
–
13.0%
152
Aflac,
Inc.
12,572
73
Allstate
Corp.
(The)
10,064
163
American
Express
Co.
27,835
206
American
International
Group,
Inc.
13,557
31
Ameriprise
Financial,
Inc.
10,959
56
Aon
PLC,
Class
A
18,395
103
Arch
Capital
Group
Ltd.*
8,620
58
Arthur
J
Gallagher
&
Co.
14,442
15
Assurant,
Inc.
2,520
1,965
Bank
of
America
Corp.
59,913
252
Bank
of
New
York
Mellon
Corp.
(The)
12,177
514
Berkshire
Hathaway,
Inc.,
Class
B*
185,040
42
BlackRock,
Inc.
31,552
205
Blackstone,
Inc.
23,036
66
Brown
&
Brown,
Inc.
4,933
113
Capital
One
Financial
Corp.
12,618
30
Cboe
Global
Markets,
Inc.
5,466
416
Charles
Schwab
Corp.
(The)
25,509
118
Chubb
Ltd.
27,073
44
Cincinnati
Financial
Corp.
4,523
Shares
Description
Value
aa
Common
Stocks
–
(continued)
Financials
–
(continued)
559
Citigroup,
Inc.
$
25,770
132
Citizens
Financial
Group,
Inc.
3,600
105
CME
Group,
Inc.
22,928
35
Comerica,
Inc.
1,583
70
Discover
Financial
Services
6,510
10
Everest
Group
Ltd.
4,105
13
FactSet
Research
Systems,
Inc.
5,895
166
Fidelity
National
Information
Services,
Inc.
9,734
192
Fifth
Third
Bancorp
5,558
171
Fiserv,
Inc.*
22,334
21
FleetCor
Technologies,
Inc.*
5,050
130
Franklin
Resources,
Inc.
3,224
73
Global
Payments,
Inc.
8,500
23
Globe
Life,
Inc.
2,832
84
Hartford
Financial
Services
Group,
Inc.
(The)
6,565
408
Huntington
Bancshares,
Inc.
4,594
177
Intercontinental
Exchange,
Inc.
20,150
199
Invesco
Ltd.
2,840
20
Jack
Henry
&
Associates,
Inc.
3,174
813
JPMorgan
Chase &
Co.
126,893
262
KeyCorp
3,246
52
Loews
Corp.
3,655
47
M&T
Bank
Corp.
6,024
9
MarketAxess
Holdings,
Inc.
2,161
138
Marsh
&
McLennan
Cos.,
Inc.
27,520
233
Mastercard,
Inc.,
Class
A
96,422
177
MetLife,
Inc.
11,262
50
Moody's
Corp.
18,248
379
Morgan
Stanley
30,070
24
MSCI,
Inc.
12,500
115
Nasdaq,
Inc.
6,422
70
Northern
Trust
Corp.
5,547
307
PayPal
Holdings,
Inc.*
17,686
111
PNC
Financial
Services
Group,
Inc.
(The)
14,869
63
Principal
Financial
Group,
Inc.
4,651
164
Progressive
Corp.
(The)
26,901
102
Prudential
Financial,
Inc.
9,974
58
Raymond
James
Financial,
Inc.
6,099
257
Regions
Financial
Corp.
4,287
95
S&P
Global,
Inc.
39,504
102
State
Street
Corp.
7,428
117
Synchrony
Financial
3,786
72
T.
Rowe
Price
Group,
Inc.
7,209
64
Travelers
Cos.,
Inc.
(The)
11,560
305
Truist
Financial
Corp.
9,803
436
US
Bancorp
16,620
450
Visa,
Inc.,
Class
A
115,506
54
W
R
Berkley
Corp.
3,918
1,024
Wells
Fargo &
Co.
45,660
29
Willis
Towers
Watson
PLC
7,143
43
Zions
Bancorp
NA
1,532
1,379,856
Health
Care
–
12.7%
486
Abbott
Laboratories
50,685
494
AbbVie,
Inc.
70,341
81
Agilent
Technologies,
Inc.
10,352
Goldman
Sachs
S&P
500
Core
Premium
Income
ETF
Schedule
of
Investments
(continued)
November
30,
2023
(Unaudited)
Shares
Description
Value
aa
Common
Stocks
–
(continued)
Health
Care
–
(continued)
20
Align
Technology,
Inc.*
$
4,276
150
Amgen,
Inc.
40,446
143
Baxter
International,
Inc.
5,159
81
Becton
Dickinson
&
Co.
19,131
41
Biogen,
Inc.*
9,597
5
Bio-Rad
Laboratories,
Inc.,
Class
A*
1,525
44
Bio-Techne
Corp.
2,768
410
Boston
Scientific
Corp.*
22,915
585
Bristol-Myers
Squibb
Co.
28,887
71
Cardinal
Health,
Inc.
7,603
51
Catalent,
Inc.*
1,981
47
Cencora,
Inc.
9,558
153
Centene
Corp.*
11,273
14
Charles
River
Laboratories
International,
Inc.*
2,759
83
Cigna
Group
(The)
21,819
14
Cooper
Cos.,
Inc.
(The)
4,717
360
CVS
Health
Corp.
24,462
184
Danaher
Corp.
41,089
15
DaVita,
Inc.*
1,522
57
DENTSPLY
SIRONA,
Inc.
1,810
108
Dexcom,
Inc.*
12,476
171
Edwards
Lifesciences
Corp.*
11,578
66
Elevance
Health,
Inc.
31,646
223
Eli
Lilly
&
Co.
131,802
109
GE
HealthCare
Technologies,
Inc.
7,462
349
Gilead
Sciences,
Inc.
26,733
56
HCA
Healthcare,
Inc.
14,027
33
Henry
Schein,
Inc.*
2,202
70
Hologic,
Inc.*
4,991
33
Humana,
Inc.
16,000
23
IDEXX
Laboratories,
Inc.*
10,714
44
Illumina,
Inc.*
4,486
50
Incyte
Corp.*
2,717
20
Insulet
Corp.*
3,782
98
Intuitive
Surgical,
Inc.*
30,462
51
IQVIA
Holdings,
Inc.*
10,919
674
Johnson &
Johnson
104,241
25
Laboratory
Corp.
of
America
Holdings
5,423
36
McKesson
Corp.
16,940
373
Medtronic
PLC
29,568
710
Merck &
Co.,
Inc.
72,761
5
Mettler-Toledo
International,
Inc.*
5,460
93
Moderna,
Inc.*
7,226
16
Molina
Healthcare,
Inc.*
5,849
1,580
Pfizer,
Inc.
48,143
30
Quest
Diagnostics,
Inc.
4,117
29
Regeneron
Pharmaceuticals,
Inc.*
23,891
41
ResMed,
Inc.
6,467
34
Revvity,
Inc.
3,023
27
STERIS
PLC
5,425
95
Stryker
Corp.
28,151
13
Teleflex,
Inc.
2,934
108
Thermo
Fisher
Scientific,
Inc.
53,542
259
UnitedHealth
Group,
Inc.
143,219
Shares
Description
Value
aa
Common
Stocks
–
(continued)
Health
Care
–
(continued)
17
Universal
Health
Services,
Inc.,
Class
B
$
2,337
72
Vertex
Pharmaceuticals,
Inc.*
25,546
336
Viatris,
Inc.
3,085
17
Waters
Corp.*
4,770
21
West
Pharmaceutical
Services,
Inc.
7,366
58
Zimmer
Biomet
Holdings,
Inc.
6,746
129
Zoetis,
Inc.
22,790
1,355,692
Industrials
–
8.3%
155
3M
Co.
15,356
31
A
O
Smith
Corp.
2,336
34
Alaska
Air
Group,
Inc.*
1,286
25
Allegion
PLC
2,652
176
American
Airlines
Group,
Inc.*
2,188
65
AMETEK,
Inc.
10,090
115
Automatic
Data
Processing,
Inc.
26,441
20
Axon
Enterprise,
Inc.*
4,597
159
Boeing
Co.
(The)*
36,829
31
Broadridge
Financial
Solutions,
Inc.
6,008
30
C.H.
Robinson
Worldwide,
Inc.
2,462
235
Carrier
Global
Corp.
12,211
143
Caterpillar,
Inc.
35,853
44
Ceridian
HCM
Holding,
Inc.*
3,032
24
Cintas
Corp.
13,278
242
Copart,
Inc.*
12,153
562
CSX
Corp.
18,153
40
Cummins,
Inc.
8,966
76
Deere
&
Co.
27,695
180
Delta
Air
Lines,
Inc.
6,647
39
Dover
Corp.
5,505
112
Eaton
Corp.
PLC
25,501
160
Emerson
Electric
Co.
14,224
33
Equifax,
Inc.
7,185
42
Expeditors
International
of
Washington,
Inc.
5,054
157
Fastenal
Co.
9,415
65
FedEx
Corp.
16,824
98
Fortive
Corp.
6,760
17
Generac
Holdings,
Inc.*
1,990
63
General
Dynamics
Corp.
15,559
305
General
Electric
Co.
37,149
186
Honeywell
International,
Inc.
36,441
105
Howmet
Aerospace,
Inc.
5,523
15
Hubbell,
Inc.
4,500
8
Huntington
Ingalls
Industries,
Inc.
1,896
21
IDEX
Corp.
4,235
77
Illinois
Tool
Works,
Inc.
18,650
110
Ingersoll
Rand,
Inc.
7,857
23
J.B.
Hunt
Transport
Services,
Inc.
4,261
33
Jacobs
Solutions,
Inc.
4,197
190
Johnson
Controls
International
PLC
10,032
53
L3Harris
Technologies,
Inc.
10,113
38
Leidos
Holdings,
Inc.
4,078
63
Lockheed
Martin
Corp.
28,210
Goldman
Sachs
S&P
500
Core
Premium
Income
ETF
Schedule
of
Investments
(continued)
November
30,
2023
(Unaudited)
Shares
Description
Value
aa
Common
Stocks
–
(continued)
Industrials
–
(continued)
63
Masco
Corp.
$
3,815
15
Nordson
Corp.
3,530
64
Norfolk
Southern
Corp.
13,962
40
Northrop
Grumman
Corp.
19,006
25
Old
Dominion
Freight
Line,
Inc.
9,727
115
Otis
Worldwide
Corp.
9,866
146
PACCAR,
Inc.
13,406
34
Parker-Hannifin
Corp.
14,728
90
Paychex,
Inc.
10,977
14
Paycom
Software,
Inc.
2,543
46
Pentair
PLC
2,969
41
Quanta
Services,
Inc.
7,721
57
Republic
Services,
Inc.
9,225
27
Robert
Half,
Inc.
2,214
31
Rockwell
Automation,
Inc.
8,539
76
Rollins,
Inc.
3,096
407
RTX
Corp.
33,162
15
Snap-on,
Inc.
4,120
167
Southwest
Airlines
Co.
4,270
43
Stanley
Black
&
Decker,
Inc.
3,909
53
Textron,
Inc.
4,063
64
Trane
Technologies
PLC
14,426
15
TransDigm
Group,
Inc.
14,443
171
Union
Pacific
Corp.
38,521
92
United
Airlines
Holdings,
Inc.*
3,625
202
United
Parcel
Service,
Inc.,
Class
B
30,625
19
United
Rentals,
Inc.
9,044
60
Veralto
Corp.*
4,635
41
Verisk
Analytics,
Inc.
9,899
10
W.W.
Grainger,
Inc.
7,862
104
Waste
Management,
Inc.
17,783
50
Westinghouse
Air
Brake
Technologies
Corp.
5,828
67
Xylem,
Inc.
7,044
881,975
Information
Technology
–
29.0%
177
Accenture
PLC,
Class
A
58,966
128
Adobe,
Inc.*
78,209
452
Advanced
Micro
Devices,
Inc.*
54,764
43
Akamai
Technologies,
Inc.*
4,968
167
Amphenol
Corp.,
Class
A
15,195
140
Analog
Devices,
Inc.
25,673
24
ANSYS,
Inc.*
7,041
4,114
Apple,
Inc.
781,454
235
Applied
Materials,
Inc.
35,198
70
Arista
Networks,
Inc.*
15,380
58
Autodesk,
Inc.*
12,669
119
Broadcom,
Inc.
110,162
76
Cadence
Design
Systems,
Inc.*
20,769
38
CDW
Corp.
8,013
1,141
Cisco
Systems,
Inc.
55,202
141
Cognizant
Technology
Solutions
Corp.,
Class
A
9,924
215
Corning,
Inc.
6,125
38
Enphase
Energy,
Inc.*
3,839
16
EPAM
Systems,
Inc.*
4,131
17
F5,
Inc.*
2,910
6
Fair
Isaac
Corp.*
6,526
Shares
Description
Value
aa
Common
Stocks
–
(continued)
Information
Technology
–
(continued)
29
First
Solar,
Inc.*
$
4,576
181
Fortinet,
Inc.*
9,513
22
Gartner,
Inc.*
9,566
158
Gen
Digital,
Inc.
3,489
362
Hewlett
Packard
Enterprise
Co.
6,121
241
HP,
Inc.
7,071
1,172
Intel
Corp.
52,388
255
International
Business
Machines
Corp.
40,433
78
Intuit,
Inc.
44,574
91
Juniper
Networks,
Inc.
2,589
50
Keysight
Technologies,
Inc.*
6,795
38
KLA
Corp.
20,696
35
Lam
Research
Corp.
25,057
153
Microchip
Technology,
Inc.
12,766
307
Micron
Technology,
Inc.
23,369
2,080
Microsoft
Corp.
788,133
13
Monolithic
Power
Systems,
Inc.
7,133
47
Motorola
Solutions,
Inc.
15,175
56
NetApp,
Inc.
5,118
691
NVIDIA
Corp.
323,181
72
NXP
Semiconductors
NV
(China)
14,694
122
ON
Semiconductor
Corp.*
8,702
441
Oracle
Corp.
51,249
84
Palo
Alto
Networks,
Inc.*
24,788
31
PTC,
Inc.*
4,878
27
Qorvo,
Inc.*
2,606
312
QUALCOMM,
Inc.
40,264
29
Roper
Technologies,
Inc.
15,609
273
Salesforce,
Inc.*
68,769
54
Seagate
Technology
Holdings
PLC
4,271
57
ServiceNow,
Inc.*
39,087
45
Skyworks
Solutions,
Inc.
4,362
16
SolarEdge
Technologies,
Inc.*
1,270
43
Synopsys,
Inc.*
23,359
88
TE
Connectivity
Ltd.
11,528
13
Teledyne
Technologies,
Inc.*
5,238
43
Teradyne,
Inc.
3,966
254
Texas
Instruments,
Inc.
38,788
72
Trimble,
Inc.*
3,341
10
Tyler
Technologies,
Inc.*
4,088
25
VeriSign,
Inc.*
5,305
90
Western
Digital
Corp.*
4,348
14
Zebra
Technologies
Corp.,
Class
A*
3,318
3,108,689
Materials
–
2.4%
60
Air
Products
and
Chemicals,
Inc.
16,233
32
Albemarle
Corp.
3,881
419
Amcor
PLC
3,972
23
Avery
Dennison
Corp.
4,474
89
Ball
Corp.
4,921
28
Celanese
Corp.
3,882
53
CF
Industries
Holdings,
Inc.
3,983
201
Corteva,
Inc.
9,085
197
Dow,
Inc.
10,195
128
DuPont
de
Nemours,
Inc.
9,157
Goldman
Sachs
S&P
500
Core
Premium
Income
ETF
Schedule
of
Investments
(continued)
November
30,
2023
(Unaudited)
Shares
Description
Value
aa
Common
Stocks
–
(continued)
Materials
–
(continued)
32
Eastman
Chemical
Co.
$
2,683
71
Ecolab,
Inc.
13,613
34
FMC
Corp.
1,824
401
Freeport-McMoRan,
Inc.
14,965
71
International
Flavors
&
Fragrances,
Inc.
5,352
97
International
Paper
Co.
3,583
137
Linde
PLC
56,687
73
LyondellBasell
Industries
NV,
Class
A
6,942
17
Martin
Marietta
Materials,
Inc.
7,898
93
Mosaic
Co.
(The)
3,338
323
Newmont
Corp.
12,981
70
Nucor
Corp.
11,898
25
Packaging
Corp.
of
America
4,200
66
PPG
Industries,
Inc.
9,371
41
Sealed
Air
Corp.
1,369
66
Sherwin-Williams
Co.
(The)
18,401
44
Steel
Dynamics,
Inc.
5,242
34
Vulcan
Materials
Co.
7,261
72
Westrock
Co.
2,964
260,355
Real
Estate
–
2.4%
44
Alexandria
Real
Estate
Equities,
Inc.
REIT
4,814
130
American
Tower
Corp.
REIT
27,141
40
AvalonBay
Communities,
Inc.
REIT
6,918
40
Boston
Properties,
Inc.
REIT
2,277
27
Camden
Property
Trust
REIT
2,437
87
CBRE
Group,
Inc.,
Class
A*
6,870
114
CoStar
Group,
Inc.*
9,467
121
Crown
Castle,
Inc.
REIT
14,191
84
Digital
Realty
Trust,
Inc.
REIT
11,657
26
Equinix,
Inc.
REIT
21,190
96
Equity
Residential
REIT
5,457
18
Essex
Property
Trust,
Inc.
REIT
3,842
58
Extra
Space
Storage,
Inc.
REIT
7,550
21
Federal
Realty
Investment
Trust
REIT
2,007
155
Healthpeak
Properties,
Inc.
REIT
2,685
200
Host
Hotels
&
Resorts,
Inc.
REIT
3,494
155
Invitation
Homes,
Inc.
REIT
5,171
82
Iron
Mountain,
Inc.
REIT
5,260
174
Kimco
Realty
Corp.
REIT
3,362
30
Mid-America
Apartment
Communities,
Inc.
REIT
3,734
259
Prologis,
Inc.
REIT
29,767
44
Public
Storage
REIT
11,385
199
Realty
Income
Corp.
REIT
10,738
45
Regency
Centers
Corp.
REIT
2,825
30
SBA
Communications
Corp.
REIT
7,409
92
Simon
Property
Group,
Inc.
REIT
11,490
78
UDR,
Inc.
REIT
2,605
113
Ventas,
Inc.
REIT
5,180
284
VICI
Properties,
Inc.
REIT
8,489
Shares
Description
Value
aa
Common
Stocks
–
(continued)
Real
Estate
–
(continued)
147
Welltower,
Inc.
REIT
$
13,098
201
Weyerhaeuser
Co.
REIT
6,301
258,811
Utilities
–
2.4%
187
AES
Corp.
(The)
3,218
68
Alliant
Energy
Corp.
3,439
73
Ameren
Corp.
5,664
144
American
Electric
Power
Co.,
Inc.
11,455
53
American
Water
Works
Co.,
Inc.
6,988
42
Atmos
Energy
Corp.
4,780
176
CenterPoint
Energy,
Inc.
4,976
80
CMS
Energy
Corp.
4,541
97
Consolidated
Edison,
Inc.
8,741
90
Constellation
Energy
Corp.
10,894
238
Dominion
Energy,
Inc.
10,791
56
DTE
Energy
Co.
5,830
216
Duke
Energy
Corp.
19,932
106
Edison
International
7,101
59
Entergy
Corp.
5,983
64
Evergy,
Inc.
3,267
98
Eversource
Energy
5,822
279
Exelon
Corp.
10,744
144
FirstEnergy
Corp.
5,319
566
NextEra
Energy,
Inc.
33,117
118
NiSource,
Inc.
3,026
66
NRG
Energy,
Inc.
3,157
585
PG&E
Corp.*
10,044
30
Pinnacle
West
Capital
Corp.
2,248
205
PPL
Corp.
5,355
139
Public
Service
Enterprise
Group,
Inc.
8,678
176
Sempra
12,825
305
Southern
Co.
(The)
21,649
84
WEC
Energy
Group,
Inc.
7,024
154
Xcel
Energy,
Inc.
9,369
255,977
TOTAL
COMMON
STOCKS
(Cost
$9,978,380)
10,681,224
a
Exchange-Traded
Fund
–
0.0%
10
Vanguard
S&P
500
ETF
(Cost
$3,925)
4,194
Goldman
Sachs
S&P
500
Core
Premium
Income
ETF
Schedule
of
Investments
(continued)
November
30,
2023
(Unaudited)
**End
swaps
header**
Shares
Dividend
Rate
Value
aa
Investment
Company
–
0.0%
(a)
Goldman
Sachs
Financial
Square
Treasury
Obligations
Fund
–
Institutional
Shares
5,124
5.260%
$
5,124
(Cost
$5,124)
TOTAL
INVESTMENTS
–
99.9%
(Cost
$9,987,429)
$
10,690,542
OTHER
ASSETS
IN
EXCESS
OF
LIABILITIES
–
0.1%
6,345
NET
ASSETS
–
100.0%
$
10,696,887
a
The
percentage
shown
for
each
investment
category
reflects
the
value
of
investments
in
that
category
as
a
percentage
of
net
assets.
*
Non-income
producing
security.
(a)
Represents
an
affiliated
issuer.
Investment
Abbreviations:
PLC
—
Public
Limited
Company
REIT
—
Real
Estate
Investment
Trust
Goldman
Sachs
Core
Premium
Income
ETFs
Schedule
of
Investments
November
30,
2023
(Unaudited)
NOTES
TO
THE
SCHEDULE
OF
INVESTMENTS
Investment
Valuation
—
The
Funds’
valuation
policy
is
to
value
investments
at
fair
value.
Investments
and
Fair
Value
Measurements
—
U.S.
GAAP
defines
the
fair
value
of
a
financial
instrument
as
the
amount
that
would
be
received
to
sell
an
asset
or
paid
to
transfer
a
liability
in
an
orderly
transaction
between
market
participants
at
the
measurement
date
(i.e.,
the
exit
price);
the
Funds’
policy
is
to
use
the
market
approach.
GAAP
establishes
a
fair
value
hierarchy
that
prioritizes
the
inputs
to
valuation
techniques
used
to
measure
fair
value.
The
hierarchy
gives
the
highest
priority
to
unadjusted
quoted
prices
in
active
markets
for
identical
assets
or
liabilities
(Level
1
measurements)
and
the
lowest
priority
to
unobservable
inputs
(Level
3
measurements).
The
level
in
the
fair
value
hierarchy
within
which
the
fair
value
measurement
in
its
entirety
falls
shall
be
determined
based
on
the
lowest
level
input
that
is
significant
to
the
fair
value
measurement
in
its
entirety.
The
levels
used
for
classifying
investments
are
not
necessarily
an
indication
of
the
risk
associated
with
investing
in
these
investments.
The
three
levels
of
the
fair
value
hierarchy
are
described
below:
Level
1
—
Unadjusted
quoted
prices
in
active
markets
that
are
accessible
at
the
measurement
date
for
identical,
unrestricted
assets
or
liabilities;
Level
2
—
Quoted
prices
in
markets
that
are
not
active
or
financial
instruments
for
which
significant
inputs
are
observable
(including,
but
not
limited
to,
quoted
prices
for
similar
investments,
interest
rates,
foreign
exchange
rates,
volatility
and
credit
spreads),
either
directly
or
indirectly;
Level
3
—
Prices
or
valuations
that
require
significant
unobservable
inputs
(including
GSAM’s
assumptions
in
determining
fair
value
measurement).
The
Board
of
Trustees
(“Trustees”)
has
approved
Valuation
Procedures
that
govern
the
valuation
of
the
portfolio
investments
held
by
the
Funds,
including
investments
for
which
market
quotations
are
not
readily
available.
With
respect
to
the
Funds’
investments
that
do
not
have
readily
available
market
quotations,
the
Trustees
have
designated
the
Adviser
as
the
valuation
designee
to
perform
fair
valuations
pursuant
to
Rule
2a-5
under
the
Investment
Company
Act
of
1940
(the
“Valuation
Designee”).
GSAM
has
day-to-day
responsibility
for
implementing
and
maintaining
internal
controls
and
procedures
related
to
the
valuation
of
the
Funds’
investments.
To
assess
the
continuing
appropriateness
of
pricing
sources
and
methodologies,
GSAM
regularly
performs
price
verification
procedures
and
issues
challenges
as
necessary
to
third
party
pricing
vendors
or
brokers,
and
any
differences
are
reviewed
in
accordance
with
the
Valuation
Procedures.
Level
1
and
Level
2
Fair
Value
Investments
—
The
valuation
techniques
and
significant
inputs
used
in
determining
the
fair
values
for
investments
classified
as
Level
1
and
Level
2
are
as
follows:
Equity
Securities
—
Equity
securities
traded
on
a
United
States
(“U.S.”)
securities
exchange
or
the
NASDAQ
system,
or
those
located
on
certain
foreign
exchanges,
including
but
not
limited
to
the
Americas,
are
valued
daily
at
their
last
sale
price
or
official
closing
price
on
the
principal
exchange
or
system
on
which
they
are
traded.
If
there
is
no
sale
or
official
closing
price
or
such
price
is
believed
by
GSAM
to
not
represent
fair
value,
equity
securities
will
be
valued
at
the
valid
closing
bid
price
for
long
positions
and
at
the
valid
closing
ask
price
for
short
positions
(i.e.
where
there
is
sufficient
volume,
during
normal
exchange
trading
hours).
If
no
valid
bid/
ask
price
is
available,
the
equity
security
will
be
valued
pursuant
to
the
Valuation
Procedures
consistent
with
applicable
regulatory
guidance.
To
the
extent
these
investments
are
actively
traded,
they
are
classified
as
Level
1
of
the
fair
value
hierarchy,
otherwise
they
are
generally
classified
as
Level
2.
Certain
equity
securities
containing
unique
attributes
may
be
classified
as
Level
2.
Unlisted
equity
securities
for
which
market
quotations
are
available
are
valued
at
the
last
sale
price
on
the
valuation
date,
or
if
no
sale
occurs,
at
the
last
bid
price
for
long
positions
or
the
last
ask
price
for
short
positions,
and
are
generally
classified
as
Level
2.
Goldman
Sachs
Core
Premium
Income
ETFs
Schedule
of
Investments
(continued)
November
30,
2023
(Unaudited)
Underlying
Funds
(including
Money
Market
Funds)
—
Underlying
funds
(“Underlying
Funds”)
include
exchange-traded
funds
(“ETFs”)
and
other
investment
companies.
Investments
in
the
Underlying
Funds
(except
ETFs)
are
valued
at
the
NAV
per
share
on
the
day
of
valuation.
ETFs
are
valued
daily
at
the
last
sale
price
or
official
closing
price
on
the
principal
exchange
or
system
on
which
the
investment
is
traded.
Because
the
Funds
invest
in
Underlying
Funds
that
fluctuate
in
value,
the
Funds’
shares
will
correspondingly
fluctuate
in
value.
Underlying
Funds
are
generally
classified
as
Level
1
of
the
fair
value
hierarchy.
To
the
extent
that
underlying
ETFs
are
actively
traded,
they
are
classified
as
Level
1
of
the
fair
value
hierarchy,
otherwise
they
are
generally
classified
as
Level
2.
For
information
regarding
an
Underlying
Fund’s
accounting
policies
and
investment
holdings,
please
see
the
Underlying
Fund’s
shareholder
report.
Derivative
Contracts
—
A
derivative
is
an
instrument
whose
value
is
derived
from
underlying
assets,
indices,
reference
rates
or
a
combination
of
these
factors.
A
Fund
enters
into
derivative
transactions
to
hedge
against
changes
in
interest
rates,
securities
prices,
and/or
currency
exchange
rates,
to
increase
total
return,
or
to
gain
access
to
certain
markets
or
attain
exposure
to
other
underliers.
For
financial
reporting
purposes,
cash
collateral
that
has
been
pledged
to
cover
obligations
of
a
Fund
and
cash
collateral
received,
if
any,
is
reported
separately
on
the
Statements
of
Assets
and
Liabilities
as
either
due
to
broker/receivable
for
collateral
on
certain
derivative
contracts.
Non-cash
collateral
pledged
by
a
Fund,
if
any,
is
noted
in
the
Schedules
of
Investments.
Exchange-traded
derivatives,
including
futures
and
options
contracts,
are
generally
valued
at
the
last
sale
or
settlement
price
on
the
exchange
where
they
are
principally
traded.
Exchange-traded
options
without
settlement
prices
are
generally
valued
at
the
last
bid
price
for
long
positions
and
the
last
ask
price
for
short
positions
on
the
exchange
where
they
are
principally
traded.
Exchange-traded
derivatives
typically
fall
within
Level
1
of
the
fair
value
hierarchy.
Over-the-counter
(“OTC”)
and
centrally
cleared
derivatives
are
valued
using
market
transactions
and
other
market
evidence,
including
market-based
inputs
to
models,
calibration
to
market-clearing
transactions,
broker
or
dealer
quotations,
or
other
alternative
pricing
sources.
Where
models
are
used,
the
selection
of
a
particular
model
to
value
OTC
and
centrally
cleared
derivatives
depends
upon
the
contractual
terms
of,
and
specific
risks
inherent
in,
the
instrument,
as
well
as
the
availability
of
pricing
information
in
the
market.
Valuation
models
require
a
variety
of
inputs,
including
contractual
terms,
market
prices,
yield
curves,
credit
curves,
measures
of
volatility,
voluntary
and
involuntary
prepayment
rates,
loss
severity
rates
and
correlations
of
such
inputs.
For
OTC
and
centrally
cleared
derivatives
that
trade
in
liquid
markets,
model
inputs
can
generally
be
verified
and
model
selection
does
not
involve
significant
management
judgment.
OTC
and
centrally
cleared
derivatives
are
classified
within
Level
2
of
the
fair
value
hierarchy
when
significant
inputs
are
corroborated
by
market
evidence.
i.
Futures
Contracts
—
Futures
contracts
are
contracts
to
buy
or
sell
a
standardized
quantity
of
a
specified
commodity
or
security.
Upon
entering
into
a
futures
contract,
a
Fund
deposits
cash
or
securities
in
an
account
on
behalf
of
the
broker
in
an
amount
sufficient
to
meet
the
initial
margin
requirement.
Subsequent
payments
are
made
or
received
by
a
Fund
equal
to
the
daily
change
in
the
contract
value
and
are
recorded
as
variation
margin
receivable
or
payable
with
a
corresponding
offset
to
unrealized
gains
or
losses.
ii.
Options
—
When
a
Fund
writes
call
or
put
options,
an
amount
equal
to
the
premium
received
is
recorded
as
a
liability
and
is
subsequently
marked-to-market
to
reflect
the
current
value
of
the
option
written.
Swaptions
are
options
on
swap
contracts.
Upon
the
purchase
of
a
call
option
or
a
put
option
by
a
Fund,
the
premium
paid
is
recorded
as
an
investment
and
subsequently
marked-to-market
to
reflect
the
current
value
of
the
option.
Certain
options
may
be
purchased
with
premiums
to
be
determined
on
a
future
date.
The
premiums
for
these
options
are
based
upon
implied
volatility
parameters
at
specified
terms.
Level
3
Fair
Value
Investments
—
To
the
extent
that
significant
inputs
to
valuation
models
and
other
alternative
pricing
sources
are
unobservable,
or
if
quotations
are
not
readily
available,
or
if
GSAM
believes
that
such
quotations
do
not
accurately
reflect
fair
value,
the
fair
value
of
a
Fund’s
investments
may
be
determined
under
Valuation
Procedures
approved
by
the
Trustees.
GSAM,
consistent
with
its
procedures
and
applicable
regulatory
guidance,
may
make
an
adjustment
to
the
most
recent
valuation
prices
of
either
domestic
or
foreign
securities
in
light
of
significant
events
to
reflect
what
it
believes
to
be
the
fair
value
of
the
securities
at
the
time
of
determining
a
Fund’s
NAV.
To
the
extent
investments
are
valued
using
single
source
broker
quotations
obtained
directly
from
the
broker
or
passed
through
from
third
party
pricing
vendors,
such
investments
are
classified
as
Level
3
investments.
NOTES
TO
THE
SCHEDULE
OF
INVESTMENTS
(continued)
Goldman
Sachs
Core
Premium
Income
ETFs
Schedule
of
Investments
(continued)
November
30,
2023
(Unaudited)
Fair
Value
Hierarchy
—
The
following
is
a
summary
of
the
Funds’
investments
classified
in
the
fair
value
hierarchy
as
of
November
30,
2023:
For
further
information
regarding
security
characteristics,
see
the
Schedules
of
Investments.
The
Funds’
risks
include,
but
are
not
limited
to,
the
following:
Calculation
Methodology
Risk
—
The
Index
relies
on
various
sources
of
information
to
assess
the
criteria
of
issuers
included
in
the
Index,
(or
a
Reference
Index
if
applicable)
including
fundamental
information
that
may
be
based
on
assumptions
and
estimates.
Neither
the
Fund,
the
Investment
Adviser
nor
the
Index
Provider
can
offer
assurances
that
the
Index’s
calculation
methodology
or
sources
of
information
will
provide
a
correct
valuation
of
securities,
nor
can
they
guarantee
the
availability
or
timeliness
of
the
production
of
the
Index.
Derivatives
Risk
—
The
Funds’
use
of
derivatives
and
other
similar
instruments
(collectively
referred
to
in
this
paragraph
as
“derivatives”)
may
result
in
loss,
including
due
to
adverse
market
movements.
Derivatives,
which
may
pose
risks
in
addition
to
and
greater
than
those
associated
with
investing
directly
in
securities,
currencies
or
other
assets
and
instruments,
may
increase
market
exposure
and
be
illiquid
or
less
liquid,
volatile,
difficult
to
price
and
leveraged
so
that
small
changes
in
the
value
of
the
underlying
assets
or
instruments
may
produce
disproportionate
losses
to
the
Funds.
Certain
derivatives
are
also
subject
to
counterparty
risk,
which
is
the
risk
that
the
other
party
in
the
transaction
will
not,
or
lacks
the
capacity
or
authority
to,
fulfill
its
contractual
obligations,
Nasdaq-100
Core
Premium
Income
ETF
Investment
Type
Level
1
Level
2
Level
3
Assets
Common
Stock
and/or
Other
Equity
Investments
(a)
Asia
$
154,316
$
—
$
—
Europe
92,793
—
—
North
America
11,651,468
—
—
South
America
77,782
—
—
Exchange-Traded
Fund
14,715
—
—
Investment
Company
7,634
—
—
Total
$
11,998,708
$
—
$
—
€
1.00
€
1.00
€
1.00
1.00
1.00
1.00
S&P
500
Core
Premium
Income
ETF
Investment
Type
Level
1
Level
2
Level
3
Assets
Common
Stock
and/or
Other
Equity
Investments
(a)
Asia
$
14,694
$
—
$
—
North
America
10,666,530
—
—
Exchange-Traded
Fund
4,194
—
—
Investment
Company
5,124
—
—
Total
$
10,690,542
$
—
$
—
€
1.00
€
1.00
€
1.00
1.00
1.00
1.00
(a)
Amounts
are
disclosed
by
continent
to
highlight
the
impact
of
time
zone
differences
between
local
market
close
and
the
calculation
of
NAV.
Security
valuations
are
based
on
the
principal
exchange
or
system
on
which
they
are
traded,
which
may
differ
from
country
of
domicile
noted
in
table.
NOTES
TO
THE
SCHEDULE
OF
INVESTMENTS
(continued)
Goldman
Sachs
Core
Premium
Income
ETFs
Schedule
of
Investments
(continued)
November
30,
2023
(Unaudited)
liquidity
risk,
which
includes
the
risk
that
the
Funds
will
not
be
able
to
exit
the
derivative
when
it
is
advantageous
to
do
so,
and
risks
arising
from
margin
requirements,
which
include
the
risk
that
the
Funds
will
be
required
to
pay
additional
margin
or
set
aside
additional
collateral
to
maintain
open
derivative
positions.
The
use
of
derivatives
is
a
highly
specialized
activity
that
involves
investment
techniques
and
risks
different
from
those
associated
with
investments
in
more
traditional
securities
and
instruments.
Losses
from
derivatives
can
also
result
from
a
lack
of
correlation
between
changes
in
the
value
of
derivative
instruments
and
the
portfolio
assets
(if
any)
being
hedged.
Large
Shareholder
Transactions
Risk
—
Certain
shareholders,
including
other
funds
advised
by
the
Investment
Adviser,
may
from
time
to
time
own
a
substantial
amount
of
the
Fund’s
Shares.
In
addition,
a
third
party
investor,
the
Investment
Adviser
or
an
affiliate
of
the
Investment
Adviser,
an
authorized
participant,
a
lead
market
maker,
or
another
entity
(i.e.,
a
seed
investor)
may
invest
in
the
Fund
and
hold
its
investment
solely
to
facilitate
commencement
of
the
Fund
or
to
facilitate
the
Fund’s
achieving
a
specified
size
or
scale.
Any
such
investment
may
be
held
for
a
limited
period
of
time.
There
can
be
no
assurance
that
any
large
shareholder
would
not
redeem
its
investment,
that
the
size
of
the
Fund
would
be
maintained
at
such
levels
or
that
the
Fund
would
continue
to
meet
applicable
listing
requirements.
Redemptions
by
large
shareholders
could
have
a
significant
negative
impact
on
the
Fund,
including
on
the
Fund’s
liquidity.
In
addition,
transactions
by
large
shareholders
may
account
for
a
large
percentage
of
the
trading
volume
on
Cboe
or
NYSE
Arca
and
may,
therefore,
have
a
material
upward
or
downward
effect
on
the
market
price
of
the
Shares.
Investments
in
Other
Investment
Companies
Risk
—
As
a
shareholder
of
another
investment
company,
including
an
ETF,
a
Fund
will
indirectly
bear
its
proportionate
share
of
any
net
management
fees
and
other
expenses
paid
by
such
other
investment
companies,
in
addition
to
the
fees
and
expenses
regularly
borne
by
the
Fund.
ETFs
are
subject
to
risks
that
do
not
apply
to
conventional
mutual
funds,
including,
but
not
limited
to,
the
following:
(i)
the
market
price
of
the
ETF’s
shares
may
trade
at
a
premium
or
a
discount
to
their
NAV;
and
(ii)
an
active
trading
market
for
an
ETF’s
shares
may
not
develop
or
be
maintained.
Market
and
Credit
Risks
—
In
the
normal
course
of
business,
a
Fund
trades
financial
instruments
and
enters
into
financial
transactions
where
risk
of
potential
loss
exists
due
to
changes
in
the
market
(market
risk).
The
value
of
the
securities
in
which
a
Fund
invests
may
go
up
or
down
in
response
to
the
prospects
of
individual
companies,
particular
sectors
or
governments
and/or
general
economic
conditions
throughout
the
world
due
to
increasingly
interconnected
global
economies
and
financial
markets.
Events
such
as
war,
acts
of
terrorism,
social
unrest,
natural
disasters,
the
spread
of
infectious
illness
or
other
public
health
threats
could
also
significantly
impact
a
Fund
and
its
investments.
Additionally,
a
Fund
may
also
be
exposed
to
credit
risk
in
the
event
that
an
issuer
or
guarantor
fails
to
perform
or
that
an
institution
or
entity
with
which
the
Fund
has
unsettled
or
open
transactions
defaults.
Market
Trading
Risk
—
Each
Fund
faces
numerous
market
trading
risks,
including
disruptions
to
creations
and
redemptions,
the
existence
of
extreme
market
volatility
or
potential
lack
of
an
active
trading
market
for
Shares.
If
a
shareholder
purchases
Shares
at
a
time
when
the
market
price
is
at
a
premium
to
the
NAV
or
sells
Shares
at
a
time
when
the
market
price
is
at
a
discount
to
the
NAV,
the
shareholder
may
sustain
losses.
The
Investment
Adviser
cannot
predict
whether
Shares
will
trade
below,
at
or
above
their
NAV.
Price
differences
may
be
due,
in
large
part,
to
the
fact
that
supply
and
demand
forces
at
work
in
the
secondary
trading
market
for
Shares
will
be
closely
related
to,
but
not
identical
to,
the
same
forces
influencing
the
prices
of
the
securities
of
a
Fund’s
Index
trading
individually
or
in
the
aggregate
at
any
point
in
time.
Tracking
Error
Risk
—
Tracking
error
is
the
divergence
of
a
Fund’s
performance
from
that
of
its
Index.
The
performance
of
a
Fund
may
diverge
from
that
of
its
Index
for
a
number
of
reasons.
Tracking
error
may
occur
because
of
transaction
costs,
a
Fund’s
holding
of
cash,
differences
in
accrual
of
dividends,
changes
to
its
Index
or
the
need
to
meet
new
or
existing
regulatory
requirements.
Unlike
a
Fund,
the
returns
of
an
Index
are
not
reduced
by
investment
and
other
operating
expenses,
including
the
trading
costs
associated
with
implementing
changes
to
its
portfolio
of
investments.
Tracking
error
risk
may
be
heightened
during
times
of
market
volatility
or
other
unusual
market
conditions.
NOTES
TO
THE
SCHEDULE
OF
INVESTMENTS
(continued)