Goldman Sachs Mid Cap Value Fund (GCMAX) NPORT-P Goldman Sachs Strategic Income Fund (Dec 2023 report)

GOLDMAN SACHS BOND FUND

Schedule of Investments

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Obligations – 52.4%
Collateralized Mortgage Obligations – 3.3%
Interest Only(a) – 0.2%
Federal Home Loan Mortgage Corp. REMICS Series 4314, Class SE (-1X 30 day USD SOFR Average + 5.936%)
$	252,184		0.597	%(b)	03/15/44	$     25,659
Federal Home Loan Mortgage Corp. REMICS Series 4998, Class GI
	1,212,773		4.000		08/25/50	235,721
Federal National Mortgage Association REMICS Series 2017-31, Class SG (30 day USD SOFR Average + 5.986%)
	384,094		0.648	(b)	05/25/47	44,961
Federal National Mortgage Association REMICS Series 2018-17, Class CS (-1X 30 day USD SOFR Average + 3.336%)
	479,077		0.000	(b)	03/25/48	8,619
Federal National Mortgage Association REMICS Series 2012-5, Class SA (-1X 30 day USD SOFR Average + 5.836%)
	157,446		0.498	(b)	02/25/42	15,201
Government National Mortgage Association REMICS Series 2014-132, Class SL (-1X 1 mo. USD Term SOFR + 5.986%)
	134,143		0.628	(b)(c)(d)	10/20/43	6,961
Government National Mortgage Association REMICS Series 2015-168, Class SD (-1X 1 mo. USD Term SOFR + 6.086%)
	69,631		0.728	(b)(c)	11/20/45	7,827
Government National Mortgage Association REMICS Series 2014-133, Class BS (-1X 1 mo. USD Term SOFR + 5.486%)
	106,740		0.128	(b)(c)(d)	09/20/44	8,664
Government National Mortgage Association REMICS Series 2018-122, Class HS (-1X 1 mo. USD Term SOFR + 6.086%)
	350,468		0.728	(b)(c)	09/20/48	37,782
Government National Mortgage Association REMICS Series 2019-6, Class SA (-1X 1 mo. USD Term SOFR + 5.936%)
	78,498		0.578	(b)(c)	01/20/49	7,939
Government National Mortgage Association REMICS Series 2019-1, Class SN (-1X 1 mo. USD Term SOFR + 5.936%)
	71,249		0.578	(b)(c)(d)	01/20/49	7,018
Government National Mortgage Association REMICS Series 2014-162, Class SA (-1X 1 mo. USD Term SOFR + 5.486%)
	89,139		0.128	(b)(c)	11/20/44	7,511
Government National Mortgage Association REMICS Series 2015-123, Class SP (1 mo. USD Term SOFR + 6.136%)
	145,074		0.778	(b)(c)(d)	09/20/45	16,438
Government National Mortgage Association REMICS Series 2016-27, Class IA
	123,126		4.000	(c)	06/20/45	15,534
Government National Mortgage Association REMICS Series 2018-122, Class SE (-1X 1 mo. USD Term SOFR + 6.086%)
	230,251		0.728	(b)(c)(d)	09/20/48	24,451

Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Obligations – (continued)
Interest Only(a) – (continued)
Government National Mortgage Association REMICS Series 2019-110, Class PS (-1X 1 mo. USD Term SOFR + 5.936%)
$	167,671		0.578	%(b)(c)	09/20/49	$     19,353
Government National Mortgage Association REMICS Series 2019-153, Class EI
	1,060,623		4.000	(c)	12/20/49	196,995
Government National Mortgage Association REMICS Series 2010-20, Class SE (-1X 1 mo. USD Term SOFR + 6.136%)
	378,552		0.778	(b)(c)	02/20/40	39,196
Government National Mortgage Association REMICS Series 2015-119, Class SN (-1X 1 mo. USD Term SOFR + 6.136%)
	115,568		0.778	(b)(c)	08/20/45	12,947
Government National Mortgage Association REMICS Series 2013-181, Class SA (-1X 1 mo. USD Term SOFR + 5.986%)
	186,469		0.628	(b)(c)	11/20/43	19,598
Government National Mortgage Association REMICS Series 2015-167, Class AS (-1X 1 mo. USD Term SOFR + 6.136%)
	86,135		0.778	(b)(c)	11/20/45	9,141
						767,516
Sequential Fixed Rate – 0.8%
Federal National Mortgage Association REMICS Series 2012- 111, Class B
	14,217		7.000		10/25/42	15,417
Federal National Mortgage Association REMICS Series 2012- 153, Class B
	38,166		7.000		07/25/42	41,687
Federal National Mortgage Association REMICS Series 2011-52, Class GB
	157,460		5.000		06/25/41	160,372
Federal National Mortgage Association REMICS Series 2005-70, Class PA
	20,670		5.500		08/25/35	21,144
Government National Mortgage Association REMICS Series 2021-135, Class A
	2,657,447		2.000	(c)	08/20/51	2,228,036
						2,466,656
Sequential Floating Rate(c) – 2.3%
Angel Oak Mortgage Trust Series 2021-6, Class A1
	238,777		1.458	(b)(e)	09/25/66	191,582
Chase Home Lending Mortgage Trust Series 2023-RPL2, Class A1
	418,700		3.250	(b)(e)	03/25/63	370,994
CIM Trust Series 2019-INV3, Class A15
	55,797		3.500	(b)(e)	08/25/49	49,232
Countrywide Alternative Loan Trust Series 2006-OC8, Class 2A3 (1 mo. USD Term SOFR + 0.614%)
	1,148,923		5.970	(b)	11/25/36	947,052

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Obligations – (continued)
Sequential Floating Rate(c) – (continued)
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2020-DNA4, Class B1 (30 day USD SOFR Average + 6.114%)
$	617,610		11.452	%(b)(e)	08/25/50	$    694,487
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2020-DNA5, Class B1 (30 day USD SOFR Average + 4.800%)
	754,000		10.137	(b)(e)	10/25/50	844,479
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2020-HQA4, Class B1 (30 day USD SOFR Average + 5.364%)
	420,604		10.702	(b)(e)	09/25/50	457,095
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2020-HQA3, Class B1 (30 day USD SOFR Average + 5.864%)
	611,045		11.202	(b)(e)	07/25/50	674,565
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes Series 2020-HQA5, Class M2 (30 day USD SOFR Average + 2.600%)
	100,461		7.937	(b)(e)	11/25/50	102,219
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes Series 2023-HQA2, Class M1B (30 Day USD SOFR Average + 3.350%)
	258,000		8.687	(b)(e)	06/25/43	272,041
Federal National Mortgage Association Connecticut Avenue Securities Series 2018-R07, Class 1M2 (30 day USD SOFR Average + 2.514%)
	6,434		7.852	(b)(e)	04/25/31	6,447
Federal National Mortgage Association Connecticut Avenue Securities Series 2020-R01, Class 1M2 (30 day USD SOFR Average + 2.164%)
	11,093		7.502	(b)(e)	01/25/40	11,230
Federal National Mortgage Association Connecticut Avenue Securities Series 2019-R07, Class 1M2 (30 day USD SOFR Average + 2.214%)
	1,390		7.552	(b)(e)	10/25/39	1,391
Federal National Mortgage Association Connecticut Avenue Securities Series 2023-R03, Class 2M2 (30 day USD SOFR Average + 3.900%)
	142,434		9.237	(b)(e)	04/25/43	152,479
Federal National Mortgage Association Connecticut Avenue Securities Series 2023-R05, Class 1M2 (30 day USD SOFR Average + 3.100%)
	130,000		8.437	(b)(e)	06/25/43	135,728
Federal National Mortgage Association Connecticut Avenue Securities Series 2023-R08, Class 1M2 (30 day USD SOFR Average + 2.500%)
	120,000		7.837	(b)(e)	10/25/43	122,645
Federal National Mortgage Association Connecticut Avenue Securities Series 2023-R08, Class 1B1
	330,000		8.887	(b)(e)	10/25/43	334,461
JP Morgan Alternative Loan Trust Series 2006-A7, Class 1A1 (1 mo. USD Term SOFR + 0.434%)
	118,062		5.790	(b)	12/25/36	105,459

Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Obligations – (continued)
Sequential Floating Rate(c) – (continued)
JP Morgan Mortgage Trust Series 2021-LTV2, Class A1
$	792,042		2.520	%(b)(e)	05/25/52	$    643,297
Mill City Mortgage Loan Trust Series 2017-2, Class A3
	110,911		3.235	(b)(e)	07/25/59	106,334
Mill City Mortgage Loan Trust Series 2019-GS2, Class M1
	720,000		3.000	(b)(e)	08/25/59	638,989
Mill City Mortgage Loan Trust Series 2021-NMR1, Class M2
	760,000		2.500	(b)(e)	11/25/60	638,583
Towd Point Mortgage Trust Series 2017-3, Class B2
	100,000		3.907	(b)(e)	07/25/57	87,452
Verus Securitization Trust Series 2022-INV1, Class A1
	87,719		5.041	(e)(f)	08/25/67	86,813
Wells Fargo Mortgage-Backed Securities Trust Series 2019-3, Class A1
	25,765		3.500	(b)(e)	07/25/49	23,169
						7,698,223
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS						$ 10,932,395
Commercial Mortgage-Backed Securities – 5.0%
Sequential Fixed Rate – 3.1%
Bank Series 2021-BN35, Class A5
$	950,000		2.285	%(c)	06/15/64	$    787,684
Bank Series 2023-BNK46, Class A4
	1,000,000		5.745	(c)	08/15/56	1,054,736
Bank Series 2017-BNK6, Class A5
	525,000		3.518	(c)	07/15/60	496,810
Benchmark Mortgage Trust Series 2021-B29, Class A5
	750,000		2.388	(c)	09/15/54	621,068
Benchmark Mortgage Trust Series 2023-B39, Class A5
	700,000		5.754	(c)	07/15/56	735,564
BMO Mortgage Trust Series 2022-C3, Class A5
	150,000		5.313	(c)	09/15/54	152,816
BMO Mortgage Trust Series 2023-C7, Class A5
	900,000		6.160	(c)	12/15/56	976,625
Citigroup Commercial Mortgage Trust Series 2019-C7, Class A4
	255,000		3.102	(c)	12/15/72	228,709
DOLP Trust Series 2021-NYC, Class A
	1,100,000		2.956	(e)	05/10/41	905,888
GS Mortgage Securities Trust Series 2017-GS7, Class A4
	550,000		3.430	(c)	08/10/50	507,862
GS Mortgage Securities Trust Series 2020-GC45, Class A5
	600,000		2.911	(c)	02/13/53	531,485
Morgan Stanley Capital I Trust Series 2018-H4, Class A4
	400,000		4.310	(c)	12/15/51	384,123
MSWF Commercial Mortgage Trust Series 2023-2, Class A2
	800,000		6.890	(c)	12/15/56	837,580
One Bryant Park Trust Series 2019-OBP, Class A
	580,000		2.516	(e)	09/15/54	490,994
Wells Fargo Commercial Mortgage Trust Series 2017-C39, Class A5
	1,125,000		3.418	(c)	09/15/50	1,052,269

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Obligations – (continued)
Sequential Fixed Rate – (continued)
Wells Fargo Commercial Mortgage Trust Series 2021-C59, Class A5
$	825,000		2.626	%(c)	04/15/54	$    700,065
						10,464,278
Sequential Floating Rate(b) –1.9%
Bank Series 2022-BNK44, Class A5
	500,000		5.745	(c)	11/15/55	530,974
Bank5 Series 2023-5YR3, Class AS
	800,000		7.315	(c)	09/15/56	841,910
Bank5 Series 2023-5YR4, Class AS
	200,000		7.274	(c)	12/15/56	208,989
BBCMS Mortgage Trust Series 2023-5C23, Class A3
	1,000,000		6.675	(c)	12/15/56	1,066,209
BBCMS Mortgage Trust Series 2023-5C23, Class AS
	350,000		7.703	(c)	12/15/56	373,319
BX Trust Series 2022-PSB, Class A (1 mo. USD Term SOFR + 2.451%)
	575,750		7.813	(e)	08/15/39	575,435
ELP Commercial Mortgage Trust Series 2021-ELP, Class A (1 mo. USD Term SOFR + 0.815%)
	998,837		6.178	(e)	11/15/38	978,784
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series KF153, Class AS (30 day USD SOFR Average + 0.680%)
	600,000		6.011	(c)	02/25/33	598,553
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series KF73, Class AS (1 mo. USD SOFR Historical Calendar Day Compounded + 0.670%)
	290,974		6.000	(c)	11/25/29	290,073
Wells Fargo Commercial Mortgage Trust Series 2022-C62, Class A4
	800,000		4.000	(c)	04/15/55	740,811
						6,205,057
TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES						$ 16,669,335
Federal Agencies – 44.1%
Adjustable Rate Federal Home Loan Mortgage Corp. – 0.0%
(RFUCC1 yr. Treasury + 1.772%)
$	17,122		6.018	%	09/01/35	$     17,320
Federal Home Loan Mortgage Corp. – 0.5%
	33,542		6.000		08/01/27	33,841
	5,752		5.000		08/01/33	5,804
	910		5.000		09/01/33	918
	1,338		5.000		10/01/33	1,350
	1,362		5.000		11/01/34	1,376
	52,239		5.000		12/01/34	52,782
	1,874		5.000		07/01/35	1,894
	2		5.000		11/01/35	2
	23,736		5.000		03/01/39	24,172
	1,583		5.000		05/01/39	1,612
	1,268		5.000		08/01/40	1,295
	13,947		4.000		02/01/41	13,559

Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Obligations – (continued)
Federal Home Loan Mortgage Corp. – (continued)
$	1,286		5.000	%	06/01/41	$      1,312
	350,906		4.000		03/01/48	338,341
	355,061		4.000		04/01/48	341,540
	999,463		4.500		08/01/48	991,977
						1,811,775
Federal National Mortgage Association – 0.8%
	2,892,409		3.500		09/01/62	2,600,933
Government National Mortgage Association – 14.9%
	13,301		5.500		11/15/32	13,579
	4,881		5.500		01/15/33	4,979
	15,427		5.500		02/15/33	15,852
	17,076		5.500		03/15/33	17,519
	22,947		5.500		07/15/33	23,491
	7,507		5.500		08/15/33	7,684
	3,195		5.500		09/15/33	3,254
	7,717		5.500		04/15/34	7,885
	6,491		5.500		05/15/34	6,629
	79,693		5.500		09/15/34	82,306
	79,335		5.500		12/15/34	82,049
	60,268		5.500		01/15/35	62,376
	171		5.500		05/15/36	175
	2,552		4.000		02/20/41	2,494
	4,076		4.000		11/20/41	3,981
	683		4.000		01/20/42	667
	2,172		4.000		04/20/42	2,121
	1,372		4.000		10/20/42	1,339
	345,730		4.000		08/20/43	337,229
	1,931		4.000		03/20/44	1,882
	2,383		4.000		05/20/44	2,322
	164,790		4.000		11/20/44	160,575
	39,764		4.000		12/20/44	38,747
	10,812		4.000		05/20/45	10,535
	39,060		4.000		07/20/45	38,061
	213,359		4.000		01/20/46	207,769
	1,181,442		3.500		04/20/47	1,115,517
	1,098,598		3.500		12/20/47	1,035,352
	684,630		4.500		05/20/48	676,603
	1,037,737		4.500		08/20/48	1,023,624
	119,550		5.000		08/20/48	120,052
	723,132		4.500		09/20/48	713,297
	866,469		5.000		10/20/48	870,107
	482,823		5.000		11/20/48	484,851
	489,802		5.000		12/20/48	491,705
	1,112,645		4.500		01/20/49	1,096,470
	903,018		5.000		01/20/49	906,528
	445,997		4.000		02/20/49	430,688
	918,098		4.500		02/20/49	904,464
	23,517		4.500		03/20/49	23,175
	285,672		4.000		03/20/49	275,867
	79,744		5.000		03/20/49	80,054
	489,388		4.000		04/20/49	472,590
	632,495		3.000		08/20/49	576,644
	283,588		4.500		10/20/49	279,554

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Obligations – (continued)
Government National Mortgage Association – (continued)
$	287,795		4.500	%	12/20/49	$    283,611
	1,232,685		3.000		03/20/50	1,124,163
	263,504		4.000		01/20/51	252,771
	1,269,986		3.500		02/20/51	1,192,367
	70,289		3.500		03/20/51	65,993
	302,916		2.500		09/20/51	261,793
	2,602,740		3.000		11/20/51	2,355,625
	564,341		2.500		11/20/51	489,668
	1,672,282		3.000		12/20/51	1,518,183
	322,008		2.500		12/20/51	279,199
	966,879		2.500		01/20/52	835,014
	1,800,350		4.500		09/20/52	1,756,783
	2,000,000		2.000		TBA-30yr(g)	1,693,824
	3,000,000		2.500		TBA-30yr(g)	2,627,906
	6,000,000		5.000		TBA-30yr(g)	5,963,567
	3,000,000		5.500		TBA-30yr(g)	3,018,611
	4,000,000		6.000		TBA-30yr(g)	4,065,412
	9,000,000		6.500		TBA-30yr(g)	9,211,210
						49,708,342
Uniform Mortgage-Backed Security – 27.9%
	4,918		4.500		02/01/39	4,902
	1,599		4.500		04/01/39	1,597
	3,623		4.500		08/01/39	3,616
	46,800		4.500		12/01/39	46,716
	44,914		4.500		06/01/40	44,818
	19,825		4.500		08/01/41	19,790
	3,980		3.000		12/01/42	3,657
	9,154		3.000		12/01/42	8,450
	8,304		3.000		12/01/42	7,732
	11,182		3.000		12/01/42	10,341
	16,070		3.000		01/01/43	14,869
	11,393		3.000		01/01/43	10,464
	30,764		3.000		01/01/43	28,473
	8,966		3.000		01/01/43	8,247
	10,325		3.000		01/01/43	9,495
	21,399		3.000		02/01/43	19,757
	7,630		3.000		03/01/43	7,073
	18,648		3.000		04/01/43	17,202
	7,718		3.000		04/01/43	7,082
	12,473		3.000		04/01/43	11,470
	43,847		3.000		04/01/43	40,325
	35,275		3.000		04/01/43	32,428
	9,667		3.000		04/01/43	8,897
	9,800		3.000		05/01/43	9,008
	9,808		3.000		05/01/43	8,986
	16,727		3.000		06/01/43	15,349
	11,579		3.000		06/01/43	10,642
	8,109		3.000		07/01/43	7,445
	10,214		5.000		06/01/44	10,374
	266,301		4.000		12/01/44	257,035
	12,170		3.500		03/01/45	11,382
	898,563		4.500		04/01/45	897,546
	318,388		3.000		04/01/45	289,555
	111,822		4.500		05/01/45	111,556

Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Obligations – (continued)
Uniform Mortgage-Backed Security – (continued)
$	407,514		4.500	%	06/01/45	$    404,394
	540,798		4.000		08/01/45	522,762
	181,548		4.000		11/01/45	175,208
	31,808		4.000		03/01/46	30,643
	27,468		4.000		03/01/46	26,509
	32,814		4.000		06/01/46	31,612
	9,741		4.000		08/01/46	9,384
	72,161		4.000		10/01/46	69,517
	11,437		4.000		10/01/46	11,018
	58,838		4.000		06/01/47	56,820
	324,121		4.500		07/01/47	321,020
	145,750		4.500		11/01/47	144,310
	190,297		4.000		12/01/47	183,831
	534,360		4.000		01/01/48	516,038
	420,688		4.000		02/01/48	406,264
	392,034		4.000		02/01/48	378,347
	133,949		4.000		02/01/48	129,733
	207,071		4.000		02/01/48	199,842
	461,602		4.000		03/01/48	445,342
	380,469		4.000		03/01/48	367,423
	463,440		4.500		05/01/48	457,412
	282,514		4.000		06/01/48	272,651
	262,692		4.000		06/01/48	253,521
	344,809		4.000		08/01/48	332,555
	258,440		4.500		09/01/48	256,210
	1,139,370		5.000		11/01/48	1,153,651
	80,313		4.500		06/01/49	78,947
	47,393		3.500		07/01/49	44,258
	459,771		3.500		07/01/49	429,358
	325,707		3.500		08/01/49	304,161
	1,690,507		3.000		09/01/49	1,527,905
	33,561		4.500		10/01/49	32,957
	6,596		4.500		01/01/50	6,505
	789,247		4.500		01/01/50	775,838
	2,043,703		4.000		03/01/50	1,964,687
	4,833,030		4.500		03/01/50	4,786,888
	883,067		2.500		09/01/50	765,879
	5,716,891		2.000		10/01/50	4,702,791
	1,020,378		3.000		10/01/50	914,739
	2,063,002		3.000		10/01/50	1,860,382
	2,046,628		3.000		10/01/50	1,834,743
	1,575,194		3.000		10/01/50	1,420,484
	2,075,480		3.000		11/01/50	1,863,851
	5,717,126		2.000		11/01/50	4,701,210
	2,453,272		3.000		12/01/50	2,204,654
	2,800,174		2.500		02/01/51	2,394,779
	1,770,913		2.500		05/01/51	1,530,922
	2,653,280		2.500		05/01/51	2,278,005
	6,600,979		2.000		05/01/51	5,409,270
	1,660,720		2.500		09/01/51	1,428,916
	1,673,021		2.500		09/01/51	1,439,500
	2,532,183		2.500		09/01/51	2,178,740
	8,460,955		2.000		03/01/52	6,918,638
	41,372		5.000		05/01/52	41,503
	52,392		5.000		06/01/52	52,705

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Obligations – (continued)
Uniform Mortgage-Backed Security – (continued)
$	711,652		5.000	%	06/01/52	$    715,902
	510,713		5.000		06/01/52	512,327
	902,131		5.000		07/01/52	903,290
	33,073		5.000		07/01/52	33,250
	23,728		5.000		07/01/52	23,789
	967,826		5.000		07/01/52	973,606
	1,194,230		5.000		07/01/52	1,198,003
	27,431		5.000		08/01/52	27,500
	926,230		5.500		09/01/52	942,789
	1,059,225		6.000		11/01/52	1,091,924
	2,167,625		6.000		11/01/52	2,234,542
	582,435		6.000		12/01/52	602,600
	2,935,547		4.500		05/01/53	2,883,607
	2,955,080		6.500		09/01/53	3,043,575
	6,000,000		3.500		TBA-30yr(g)	5,507,813
	2,000,000		6.500		TBA-30yr(g)	2,049,061
	3,000,000		7.000		TBA-30yr(g)	3,094,103
	4,000,000		7.000		TBA-30yr(g)	4,124,221
						93,007,413
TOTAL FEDERAL AGENCIES						$147,145,783
TOTAL MORTGAGE-BACKED OBLIGATIONS (Cost $178,268,211)						$174,747,513
Corporate Obligations – 38.3%
Aerospace & Defense(c) – 1.6%
Boeing Co.
$	1,400,000		3.450	%	11/01/28	$  1,318,352
	1,350,000		5.150		05/01/30	1,374,462
	15,000		3.600		05/01/34	13,279
	80,000		3.250		02/01/35	67,546
	15,000		3.375		06/15/46	11,023
RTX Corp.
	5,000		3.500		03/15/27	4,819
	30,000		3.125		05/04/27	28,541
	5,000		4.125		11/16/28	4,884
	1,385,000		6.100		03/15/34	1,501,783
TransDigm, Inc.(e)
	166,000		6.250		03/15/26	165,802
	670,000		6.875		12/15/30	689,859
						5,180,350
Agriculture – 0.0%
Altria Group, Inc.
	25,000		3.400	(c)	02/04/41	18,351
	5,000		4.250		08/09/42	4,078
	10,000		4.450	(c)	05/06/50	7,946
BAT Capital Corp.(c)
	10,000		4.758		09/06/49	7,937
Philip Morris International, Inc.
	25,000		5.625	(c)	11/17/29	26,224
	10,000		4.375		11/15/41	8,872

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Agriculture – (continued)
Philip Morris International, Inc. – (continued)
$	10,000		4.500	%	03/20/42	$      8,988
	10,000		4.125		03/04/43	8,486
Reynolds American, Inc.(c)
	10,000		5.700		08/15/35	9,868
	20,000		5.850		08/15/45	18,842
						119,592
Apparel(c) – 0.0%
NIKE, Inc.
	5,000		2.750		03/27/27	4,768
Automotive – 0.2%
American Honda Finance Corp.
	20,000		2.300		09/09/26	18,917
Aptiv PLC(c)
	10,000		3.100		12/01/51	6,529
Cummins, Inc.(c)
	30,000		2.600		09/01/50	19,904
General Motors Financial Co., Inc.(c)
	300,000		4.300		07/13/25	295,140
	500,000		2.350		01/08/31	413,500
						753,990
Banks – 10.1%
Banco do Brasil SA(b)(c) (10 yr. CMT + 4.398%)
	200,000		6.250		04/15/24	194,336
Banco Mercantil del Norte SA(b)(c)(e) (5 yr. CMT + 4.643%)
	260,000		5.875		01/24/27	237,999
Banco Santander SA
	800,000		2.746		05/28/25	772,240
	600,000		4.250		04/11/27	581,370
	200,000		2.749		12/03/30	166,080
	600,000		6.921		08/08/33	640,050
Bank of America Corp.(c)
	925,000		4.183		11/25/27	899,590
(3 mo. USD Term SOFR + 1.252%)
	75,000		2.496	(b)	02/13/31	64,458
(3 mo. USD Term SOFR + 1.302%)
	15,000		3.419	(b)	12/20/28	14,122
(3 mo. USD Term SOFR + 1.322%)
	45,000		3.559	(b)	04/23/27	43,326
(3 mo. USD Term SOFR + 1.572%)
	750,000		4.271	(b)	07/23/29	723,742
(3 mo. USD Term SOFR + 1.582%)
	10,000		4.078	(b)	04/23/40	8,771
(3 mo. USD Term SOFR + 1.837%)
	525,000		3.824	(b)	01/20/28	504,798
(3 mo. USD Term SOFR + 3.412%)
	5,000		4.083	(b)	03/20/51	4,222
(5 yr. CMT + 1.200%)
	475,000		2.482	(b)	09/21/36	376,879
(Secured Overnight Financing Rate + 0.910%)
	70,000		1.658	(b)	03/11/27	64,757
(Secured Overnight Financing Rate + 0.960%)
	45,000		1.734	(b)	07/22/27	41,219

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Banks – (continued)
Bank of America Corp.(c) – (continued)
(Secured Overnight Financing Rate + 1.050%)
$	65,000		2.551	%(b)	02/04/28	$     60,229
(Secured Overnight Financing Rate + 1.060%)
	25,000		2.087	(b)	06/14/29	22,047
(Secured Overnight Financing Rate + 1.220%)
	550,000		2.651	(b)	03/11/32	464,805
(Secured Overnight Financing Rate + 1.330%)
	325,000		2.972	(b)	02/04/33	276,172
(Secured Overnight Financing Rate + 1.530%)
	600,000		1.898	(b)	07/23/31	490,074
(Secured Overnight Financing Rate + 1.630%)
	1,600,000		5.202	(b)	04/25/29	1,609,760
(Secured Overnight Financing Rate + 1.830%)
	275,000		4.571	(b)	04/27/33	262,312
(Secured Overnight Financing Rate + 2.040%)
	550,000		4.948	(b)	07/22/28	549,521
Bank of Montreal(b)(c) (Secured Overnight Financing Rate + 0.603%)
	70,000		0.949		01/22/27	64,608
Bank of New York Mellon Corp.(b)(c)
(3 mo. USD Term SOFR + 1.331%)
	30,000		3.442		02/07/28	28,878
(Secured Overnight Financing Rate + 1.169%)
	60,000		4.543		02/01/29	59,621
(Secured Overnight Financing Rate + 1.755%)
	70,000		4.596		07/26/30	69,628
Bank of Nova Scotia
	20,000		4.850		02/01/30	19,942
Barclays PLC(b)(c)
(1 yr. CMT + 3.050%)
	875,000		7.325		11/02/26	903,551
(Secured Overnight Financing Rate + 2.714%)
	825,000		2.852		05/07/26	796,372
BNP Paribas SA(e)
	550,000		3.375		01/09/25	538,494
(5 yr. USD Secured Overnight Financing Rate ICE Swap Rate + 4.149%)
	200,000		6.625	(b)(c)	03/25/24	199,258
(Secured Overnight Financing Rate + 1.004%)
	725,000		1.323	(b)(c)	01/13/27	668,682
(Secured Overnight Financing Rate + 2.074%)
	350,000		2.219	(b)(c)	06/09/26	334,156
BPCE SA(e)
	525,000		4.625		09/12/28	513,644
Citigroup, Inc.
	125,000		4.300		11/20/26	122,499
(Secured Overnight Financing Rate + 0.765%)
	65,000		1.122	(b)(c)	01/28/27	59,745
(Secured Overnight Financing Rate + 0.770%)
	70,000		1.462	(b)(c)	06/09/27	64,063
(Secured Overnight Financing Rate + 1.146%)
	25,000		2.666	(b)(c)	01/29/31	21,701
(Secured Overnight Financing Rate + 1.280%)
	15,000		3.070	(b)(c)	02/24/28	14,136

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Banks – (continued)
Citigroup, Inc. – (continued)
(Secured Overnight Financing Rate + 1.422%)
$	550,000		2.976	%(b)(c)	11/05/30	$    490,281
(Secured Overnight Financing Rate + 2.086%)
	800,000		4.910	(b)(c)	05/24/33	783,400
(Secured Overnight Financing Rate + 2.107%)
	10,000		2.572	(b)(c)	06/03/31	8,543
Credit Agricole SA(b)(c)(e)
(5 yr. USD Swap + 4.319%)
	250,000		6.875		09/23/24	248,448
(Secured Overnight Financing Rate + 1.676%)
	375,000		1.907		06/16/26	355,913
Credit Suisse AG
	300,000		2.950		04/09/25	290,688
Deutsche Bank AG(b)(c) (Secured Overnight Financing Rate + 1.870%)
	450,000		2.129		11/24/26	421,762
Fifth Third Bancorp(c)
	375,000		2.375		01/28/25	362,813
First Horizon Corp.(c)
	700,000		4.000		05/26/25	679,462
First-Citizens Bank & Trust Co.(b)(c) (3 mo. USD Term SOFR + 1.715%)
	600,000		2.969		09/27/25	585,528
HSBC Holdings PLC
	15,000		6.100		01/14/42	17,064
(3 mo. USD Term SOFR + 1.473%)
	600,000		3.803	(b)(c)	03/11/25	597,606
Huntington Bancshares, Inc.(c)
	825,000		4.000		05/15/25	808,384
ING Groep NV(b)(c)(e) (1 yr. CMT + 1.100%)
	950,000		1.400		07/01/26	893,807
JPMorgan Chase & Co.(c)
	425,000		3.625		12/01/27	407,486
(3 mo. USD Term SOFR + 1.207%)
	5,000		3.509	(b)	01/23/29	4,733
(3 mo. USD Term SOFR + 1.507%)
	475,000		3.960	(b)	01/29/27	464,013
(3 mo. USD Term SOFR + 1.599%)
	10,000		3.782	(b)	02/01/28	9,657
(3 mo. USD Term SOFR + 2.515%)
	200,000		2.956	(b)	05/13/31	175,926
(Secured Overnight Financing Rate + 0.885%)
	25,000		1.578	(b)	04/22/27	23,071
(Secured Overnight Financing Rate + 1.015%)
	60,000		2.069	(b)	06/01/29	53,195
(Secured Overnight Financing Rate + 1.170%)
	40,000		2.947	(b)	02/24/28	37,632
(Secured Overnight Financing Rate + 1.580%)
	25,000		3.328	(b)	04/22/52	18,747
(Secured Overnight Financing Rate + 1.800%)
	901,000		4.586	(b)	04/26/33	868,762
(Secured Overnight Financing Rate + 1.890%)
	55,000		2.182	(b)	06/01/28	50,250
(Secured Overnight Financing Rate + 2.440%)
	30,000		3.109	(b)	04/22/51	21,584

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Banks – (continued)
Macquarie Group Ltd.(b)(c)(e) (Secured Overnight Financing Rate + 1.069%)
$	450,000		1.340	%	01/12/27	$      413,379
Mitsubishi UFJ Financial Group, Inc.
	30,000		4.286		07/26/38	28,229
Morgan Stanley
	174,000		3.950		04/23/27	168,881
(3 mo. USD Term SOFR + 1.890%)
	200,000		4.431	(b)(c)	01/23/30	194,824
(Secured Overnight Financing Rate + 0.720%)
	70,000		0.985	(b)(c)	12/10/26	64,424
(Secured Overnight Financing Rate + 0.858%)
	40,000		1.512	(b)(c)	07/20/27	36,550
(Secured Overnight Financing Rate + 0.879%)
	70,000		1.593	(b)(c)	05/04/27	64,480
(Secured Overnight Financing Rate + 1.000%)
	10,000		2.475	(b)(c)	01/21/28	9,281
(Secured Overnight Financing Rate + 1.020%)
	20,000		1.928	(b)(c)	04/28/32	16,070
(Secured Overnight Financing Rate + 1.034%)
	760,000		1.794	(b)(c)	02/13/32	606,412
(Secured Overnight Financing Rate + 1.143%)
	725,000		2.699	(b)(c)	01/22/31	635,078
(Secured Overnight Financing Rate + 1.290%)
	141,000		2.943	(b)(c)	01/21/33	119,843
(Secured Overnight Financing Rate + 1.590%)
	1,395,000		5.164	(b)(c)	04/20/29	1,401,515
NatWest Group PLC(b)(c) (5 yr. CMT + 2.100%)
	200,000		3.754		11/01/29	195,070
Northern Trust Corp.(c)
	20,000		1.950		05/01/30	17,232
Royal Bank of Canada
	15,000		1.400		11/02/26	13,724
Santander Holdings USA, Inc.(c)
	10,000		3.244		10/05/26	9,475
State Street Corp.(b)(c) (Secured Overnight Financing Rate + 1.715%)
	60,000		5.820		11/04/28	62,258
Toronto-Dominion Bank
	625,000		4.456		06/08/32	607,325
Truist Financial Corp.(b)(c)
(Secured Overnight Financing Rate + 0.609%)
	35,000		1.267		03/02/27	32,071
(Secured Overnight Financing Rate + 0.862%)
	70,000		1.887		06/07/29	60,493
(Secured Overnight Financing Rate + 2.050%)
	150,000		6.047		06/08/27	152,691
U.S. Bancorp(b)(c)
(5 yr. CMT + 2.541%)
	650,000		3.700		01/15/27	512,934
(Secured Overnight Financing Rate + 1.230%)
	30,000		4.653		02/01/29	29,516
(Secured Overnight Financing Rate + 2.020%)
	60,000		5.775		06/12/29	61,627

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Banks – (continued)
UBS Group AG
$	307,000		4.550	%	04/17/26	$      302,852
	2,025,000		4.282	(c)(e)	01/09/28	1,957,831
(5 yr. CMT + 4.758%)
	200,000		9.250	(b)(c)(e)	11/13/33	221,734
(Secured Overnight Financing Rate + 1.560%)
	302,000		2.593	(b)(c)(e)	09/11/25	295,474
Virgin Money U.K. PLC(b)(c) (5 yr. U.K. Government Bond + 8.307%)
GBP	325,000		9.250		06/08/24	414,319
Wells Fargo & Co.
$	675,000		3.000		10/23/26	640,973
	600,000		4.300		07/22/27	587,526
	75,000		4.150	(c)	01/24/29	72,965
(3 mo. USD Term SOFR + 1.262%)
	10,000		2.572	(b)(c)	02/11/31	8,646
(3 mo. USD Term SOFR + 1.432%)
	60,000		3.196	(b)(c)	06/17/27	57,367
(3 mo. USD Term SOFR + 1.432%)
	10,000		2.879	(b)(c)	10/30/30	8,886
(3 mo. USD Term SOFR + 1.572%)
	25,000		3.584	(b)(c)	05/22/28	23,821
(3 mo. USD Term SOFR + 4.502%)
	25,000		5.013	(b)(c)	04/04/51	23,846
(Secured Overnight Financing Rate + 1.980%)
	400,000		4.808	(b)(c)	07/25/28	397,320
(Secured Overnight Financing Rate + 2.100%)
	65,000		2.393	(b)(c)	06/02/28	59,530
(Secured Overnight Financing Rate + 2.100%)
	932,000		4.897	(b)(c)	07/25/33	908,532
Westpac Banking Corp.
	40,000		1.953		11/20/28	35,391
						33,761,007
Beverages – 1.3%
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc.(c)
	700,000		4.700		02/01/36	698,628
	314,000		4.900		02/01/46	309,796
Anheuser-Busch InBev Finance, Inc.(c)
	35,000		4.900		02/01/46	34,121
Anheuser-Busch InBev Worldwide, Inc.
	80,000		8.200		01/15/39	106,864
Constellation Brands, Inc.(c)
	625,000		4.400		11/15/25	617,887
	500,000		3.600		02/15/28	480,195
	325,000		2.250		08/01/31	273,380
JDE Peet’s NV(c)(e)
	375,000		1.375		01/15/27	337,024
Keurig Dr Pepper, Inc.(c)
	575,000		4.597		05/25/28	575,989
	925,000		2.250		03/15/31	790,311

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Beverages – (continued)
PepsiCo, Inc.(c)
$	10,000		1.625	%	05/01/30	$        8,522
						4,232,717
Biotechnology(c) – 1.2%
Amgen, Inc.
	15,000		2.600		08/19/26	14,253
	1,278,000		5.250		03/02/30	1,314,206
	1,400,000		4.200		03/01/33	1,332,086
	800,000		5.250		03/02/33	819,960
Biogen, Inc.
	25,000		3.150		05/01/50	17,535
CSL Finance PLC(e)
	100,000		3.850		04/27/27	97,335
Gilead Sciences, Inc.
	50,000		3.650		03/01/26	48,996
	40,000		4.000		09/01/36	36,823
Royalty Pharma PLC
	425,000		1.200		09/02/25	396,780
	10,000		3.300		09/02/40	7,539
	10,000		3.550		09/02/50	7,117
						4,092,630
Building Materials(c) – 0.5%
Carrier Global Corp.
	1,180,000		5.900	(e)	03/15/34	1,277,173
	35,000		3.577		04/05/50	27,432
Fortune Brands Innovations, Inc.
	5,000		4.500		03/25/52	4,214
Masco Corp.
	325,000		1.500		02/15/28	284,570
Vulcan Materials Co.
	20,000		3.900		04/01/27	19,345
						1,612,734
Chemicals – 1.2%
Albemarle Corp.(c)
	15,000		5.650		06/01/52	13,947
Ashland Services BV(c)
EUR	650,000		2.000		01/30/28	667,517
Axalta Coating Systems LLC(c)(e)
$	475,000		3.375		02/15/29	427,210
Celanese U.S. Holdings LLC(c)
	40,000		6.330		07/15/29	41,983
Dow Chemical Co.(c)
	35,000		6.300		03/15/33	38,623
Huntsman International LLC(c)
	350,000		4.500		05/01/29	337,715
	250,000		2.950		06/15/31	212,645
International Flavors & Fragrances, Inc.(c)
	650,000		1.832	(e)	10/15/27	569,523
	10,000		5.000		09/26/48	8,546
LYB International Finance BV
	20,000		5.250		07/15/43	19,137

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Chemicals – (continued)
PPG Industries, Inc.(c)
$	5,000		1.200	%	03/15/26	$        4,623
Sasol Financing USA LLC(c)
	310,000		5.875		03/27/24	307,582
Sherwin-Williams Co.(c)
	500,000		3.450		06/01/27	482,965
	475,000		2.950		08/15/29	440,107
SNF Group SACA(c)(e)
	590,000		3.375		03/15/30	504,185
						4,076,308
Commercial Services(c) – 0.5%
CoStar Group, Inc.(e)
	625,000		2.800		07/15/30	534,812
Global Payments, Inc.
	15,000		5.950		08/15/52	15,346
MPH Acquisition Holdings LLC(e)
	542,000		5.750		11/01/28	447,313
TriNet Group, Inc.(e)
	500,000		7.125		08/15/31	515,530
						1,513,001
Computers(c) – 0.5%
Dell International LLC/EMC Corp.
	375,000		6.020		06/15/26	383,756
	75,000		5.300		10/01/29	77,270
	50,000		6.200		07/15/30	53,666
	35,000		8.350		07/15/46	46,130
Hewlett Packard Enterprise Co.
	909,000		4.900		10/15/25	905,818
	15,000		6.350		10/15/45	16,199
Western Digital Corp.
	30,000		2.850		02/01/29	25,739
						1,508,578
Cosmetics & Personal Care – 0.3%
Haleon U.S. Capital LLC(c)
	875,000		3.375		03/24/27	842,074
Procter & Gamble Co.
	60,000		2.800		03/25/27	57,473
						899,547
Diversified Financial Services(c) – 1.6%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust
	400,000		4.875		01/16/24	399,872
	295,000		6.500		07/15/25	299,390
	675,000		3.000		10/29/28	616,207
	275,000		3.400		10/29/33	236,269
Air Lease Corp.
	225,000		3.375		07/01/25	217,917
	875,000		3.750		06/01/26	845,434
(5 yr. CMT + 3.149%)
	750,000		4.125	(b)	12/15/26	582,570
American Express Co.
	25,000		1.650		11/04/26	23,075

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Diversified Financial Services(c) – (continued)
American Express Co. – (continued)
$	5,000		2.550	%	03/04/27	$        4,684
(Secured Overnight Financing Rate + 1.280%)
	60,000		5.282	(b)	07/27/29	61,204
Aviation Capital Group LLC(e)
	375,000		1.950		01/30/26	347,400
Avolon Holdings Funding Ltd.(e)
	425,000		3.950		07/01/24	419,594
	675,000		2.875		02/15/25	651,834
	175,000		4.250		04/15/26	169,257
Brookfield Finance, Inc.
	20,000		3.500		03/30/51	14,635
Capital One Financial Corp.(b)
(Secured Overnight Financing Rate + 0.855%)
	55,000		1.878		11/02/27	49,455
(Secured Overnight Financing Rate + 1.790%)
	35,000		3.273		03/01/30	31,222
Charles Schwab Corp.(b)
(5 yr. CMT + 4.971%)
	322,000		5.375		06/01/25	317,717
(Secured Overnight Financing Rate + 1.878%)
	30,000		6.196		11/17/29	31,494
(Secured Overnight Financing Rate + 2.500%)
	20,000		5.853		05/19/34	20,617
Discover Financial Services
	60,000		4.100		02/09/27	57,590
Mastercard, Inc.
	5,000		3.300		03/26/27	4,850
	10,000		3.850		03/26/50	8,760
Synchrony Financial
	25,000		2.875		10/28/31	20,035
Visa, Inc.
	15,000		3.150		12/14/25	14,636
	55,000		4.150		12/14/35	53,931
						5,499,649
Electrical – 1.1%
AEP Texas, Inc.(c)
	40,000		3.950		06/01/28	38,548
Ameren Corp.(c)
	125,000		3.500		01/15/31	113,975
American Electric Power Co., Inc.(c)
	20,000		2.300		03/01/30	17,097
Appalachian Power Co.(c)
	30,000		3.700		05/01/50	22,503
Berkshire Hathaway Energy Co.(c)
	225,000		3.250		04/15/28	213,755
	400,000		3.700		07/15/30	378,896
Constellation Energy Generation LLC(c)
	15,000		5.600		06/15/42	15,007
Duke Energy Carolinas LLC(c)
	5,000		2.450		08/15/29	4,462
Duke Energy Progress LLC(c)
	15,000		3.450		03/15/29	14,306
Edison International(c)
	20,000		6.950		11/15/29	21,740

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Electrical – (continued)
Emera U.S. Finance LP(c)
$	20,000		4.750	%	06/15/46	$       16,479
Entergy Louisiana LLC(c)
	25,000		4.750		09/15/52	22,997
Exelon Corp.(c)
	30,000		4.450		04/15/46	26,087
NextEra Energy Capital Holdings, Inc.(c)
	525,000		1.900		06/15/28	465,932
NRG Energy, Inc.(c)(e)
	675,000		3.750		06/15/24	666,502
Ohio Edison Co.
	5,000		6.875		07/15/36	5,621
Pacific Gas & Electric Co.(c)
	250,000		2.100		08/01/27	225,458
	5,000		4.500		07/01/40	4,224
	125,000		3.300		08/01/40	91,620
	5,000		4.000		12/01/46	3,661
	30,000		4.950		07/01/50	25,727
PacifiCorp(c)
	30,000		4.150		02/15/50	24,355
Public Service Co. of Colorado(c)
	35,000		4.500		06/01/52	30,650
Sempra(c)
	5,000		3.700		04/01/29	4,763
Southern California Edison Co.(c)
	450,000		4.200		03/01/29	441,081
	25,000		4.875		03/01/49	23,063
Southern Power Co.(c)
	30,000		4.950		12/15/46	26,957
Xcel Energy, Inc.(c)
	900,000		3.350		12/01/26	867,357
						3,812,823
Electronics(c) – 0.0%
Amphenol Corp.
	5,000		2.800		02/15/30	4,557
Flex Ltd.
	35,000		4.875		06/15/29	34,409
						38,966
Energy-Alternate Sources(c)(e) – 0.0%
Greenko Power II Ltd.
	180,000		4.300		12/13/28	163,350
Engineering & Construction(c) – 0.3%
MasTec, Inc.(e)
	610,000		4.500		08/15/28	573,339
Mexico City Airport Trust
	200,000		4.250		10/31/26	192,606
	250,000		3.875	(e)	04/30/28	234,162
						1,000,107
Entertainment(c) – 0.6%
Warnermedia Holdings, Inc.
	775,000		6.412		03/15/26	775,597
	450,000		4.054		03/15/29	426,699

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Entertainment(c) – (continued)
Warnermedia Holdings, Inc. – (continued)
$	850,000		4.279	%	03/15/32	$      777,639
						1,979,935
Environmental(c) – 0.4%
Veralto Corp.(e)
	1,160,000		5.450		09/18/33	1,203,500
Waste Management, Inc.
	250,000		1.150		03/15/28	220,035
						1,423,535
Food & Drug Retailing – 0.7%
Conagra Brands, Inc.(c)
	5,000		5.300		11/01/38	4,890
General Mills, Inc.(c)
	300,000		4.200		04/17/28	296,082
J M Smucker Co.(c)
	449,000		5.900		11/15/28	472,770
	725,000		6.200		11/15/33	790,837
Kraft Heinz Foods Co.
	30,000		6.875		01/26/39	34,752
Kroger Co.(c)
	10,000		2.200		05/01/30	8,563
Post Holdings, Inc.(c)(e)
	498,000		5.625		01/15/28	492,895
Sysco Corp.(c)
	5,000		3.300		07/15/26	4,830
	50,000		6.600		04/01/40	56,346
	25,000		4.500		04/01/46	22,233
Tyson Foods, Inc.(c)
	20,000		5.100		09/28/48	18,177
						2,202,375
Gas(c) – 0.1%
East Ohio Gas Co.(e)
	150,000		1.300		06/15/25	141,853
NiSource, Inc.
	100,000		3.600		05/01/30	93,299
						235,152
Hand/Machine Tools(c) – 0.0%
Stanley Black & Decker, Inc.
	55,000		2.300		03/15/30	46,810
	5,000		4.850		11/15/48	4,512
						51,322
Healthcare Providers & Services – 1.0%
Abbott Laboratories(c)
	5,000		3.750		11/30/26	4,934
Baxter International, Inc.(c)
	179,000		1.915		02/01/27	164,055
Centene Corp.(c)
	55,000		4.625		12/15/29	52,843
	15,000		3.375		02/15/30	13,460
CommonSpirit Health(c)
	635,000		3.910		10/01/50	499,851

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Healthcare Providers & Services – (continued)
CommonSpirit Health(c) – (continued)
$	610,000		6.461	%	11/01/52	$      714,325
Elevance Health, Inc.(c)
	25,000		6.100		10/15/52	28,428
HCA, Inc.(c)
	55,000		5.875		02/15/26	55,512
	5,000		5.500		06/15/47	4,814
	10,000		5.250		06/15/49	9,306
	685,000		5.900		06/01/53	703,379
Humana, Inc.(c)
	5,000		4.875		04/01/30	5,062
Laboratory Corp. of America Holdings(c)
	70,000		1.550		06/01/26	64,665
Quest Diagnostics, Inc.(c)
	10,000		2.950		06/30/30	8,951
Revvity, Inc.(c)
	20,000		3.300		09/15/29	18,147
STERIS Irish FinCo UnLtd Co.(c)
	218,000		2.700		03/15/31	187,447
Thermo Fisher Scientific, Inc.(c)
	135,000		1.750		10/15/28	120,446
UnitedHealth Group, Inc.
	525,000		5.300	(c)	02/15/30	549,292
	10,000		6.875		02/15/38	12,086
	25,000		4.250	(c)	06/15/48	22,361
						3,239,364
Home Builders(c) – 0.0%
PulteGroup, Inc.
	5,000		5.500		03/01/26	5,066
Household Products(c) – 0.0%
Kimberly-Clark Corp.
	10,000		2.875		02/07/50	7,202
Insurance(c) – 0.3%
Acrisure LLC/Acrisure Finance, Inc.(e)
	536,000		4.250		02/15/29	488,435
Allstate Corp.
	70,000		0.750		12/15/25	64,560
American International Group, Inc.
	250,000		3.400		06/30/30	230,012
	10,000		4.750		04/01/48	9,475
Aon Corp.
	10,000		2.800		05/15/30	8,870
Berkshire Hathaway Finance Corp.
	35,000		3.850		03/15/52	29,365
Brighthouse Financial, Inc.
	20,000		4.700		06/22/47	15,893
Brown & Brown, Inc.
	20,000		2.375		03/15/31	16,413
Great-West Lifeco Finance 2018 LP(e)
	115,000		4.047		05/17/28	111,913
Progressive Corp.
	5,000		3.200		03/26/30	4,628
Reinsurance Group of America, Inc.
	40,000		3.900		05/15/29	38,116

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Insurance(c) – (continued)
Willis North America, Inc.
$	70,000		2.950	%	09/15/29	$       62,764
						1,080,444
Internet – 1.0%
Amazon.com, Inc.(c)
	20,000		1.000		05/12/26	18,481
	10,000		3.875		08/22/37	9,281
eBay, Inc.(c)
	25,000		6.300		11/22/32	27,544
Expedia Group, Inc.(c)
	260,000		4.625		08/01/27	259,293
	200,000		3.250		02/15/30	183,412
	81,000		2.950		03/15/31	71,529
Meta Platforms, Inc.(c)
	950,000		3.500		08/15/27	924,654
	2,000		3.850		08/15/32	1,902
Netflix, Inc.
	495,000		6.375		05/15/29	538,758
	1,275,000		4.875	(c)(e)	06/15/30	1,289,344
Prosus NV(c)(e)
	200,000		3.832		02/08/51	125,750
						3,449,948
Iron/Steel – 0.1%
ArcelorMittal SA
	15,000		6.750		03/01/41	15,872
Nucor Corp.(c)
	5,000		3.125		04/01/32	4,496
Steel Dynamics, Inc.(c)
	150,000		2.400		06/15/25	143,680
	275,000		1.650		10/15/27	245,014
						409,062
Leisure Time(c) – 0.0%
Brunswick Corp.
	10,000		4.400		09/15/32	9,111
Lodging(c) – 0.4%
Hyatt Hotels Corp.
	475,000		1.800		10/01/24	460,997
Marriott International, Inc.
	475,000		5.000		10/15/27	480,942
	70,000		4.000		04/15/28	67,776
Sands China Ltd.
	200,000		5.650		08/08/28	197,300
						1,207,015
Machinery - Construction & Mining – 0.0%
Caterpillar Financial Services Corp.
	5,000		1.150		09/14/26	4,591
Machinery-Diversified(c) – 0.1%
Otis Worldwide Corp.
	175,000		2.293		04/05/27	163,077

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Machinery-Diversified(c) – (continued)
Otis Worldwide Corp. – (continued)
$	25,000		2.565	%	02/15/30	$       22,259
						185,336
Media – 0.5%
Charter Communications Operating LLC/Charter Communications Operating Capital(c)
	425,000		4.908		07/23/25	421,035
	25,000		2.250		01/15/29	21,704
	5,000		6.384		10/23/35	5,077
	40,000		5.375		04/01/38	36,166
	5,000		6.484		10/23/45	4,912
Comcast Corp.
	256,000		3.300	(c)	02/01/27	247,132
	6,000		6.500		11/15/35	6,853
	75,000		3.750	(c)	04/01/40	64,528
Fox Corp.(c)
	300,000		4.030		01/25/24	299,604
	20,000		5.476		01/25/39	19,504
NBCUniversal Media LLC
	458,000		4.450		01/15/43	419,299
Time Warner Cable LLC
	5,000		6.550		05/01/37	4,930
	20,000		7.300		07/01/38	20,731
Walt Disney Co.(c)
	5,000		3.375		11/15/26	4,855
						1,576,330
Mining(c) – 0.2%
Freeport-McMoRan, Inc.
	25,000		4.375		08/01/28	24,051
	5,000		5.450		03/15/43	4,848
Glencore Funding LLC(e)
	450,000		1.625		04/27/26	416,786
	250,000		2.625		09/23/31	212,360
Newmont Corp./Newcrest Finance Pty. Ltd.(e)
	150,000		3.250		05/13/30	135,087
						793,132
Miscellaneous Manufacturing – 0.1%
3M Co.(c)
	70,000		2.375		08/26/29	61,980
Carlisle Cos., Inc.(c)
	5,000		2.750		03/01/30	4,437
GE Capital International Funding Co. Unlimited Co.
	230,000		4.418		11/15/35	223,316
						289,733
Multi-National(c)(e) – 0.1%
African Export-Import Bank
	270,000		2.634		05/17/26	249,351
	240,000		3.798		05/17/31	203,443
						452,794

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Office & Business Equipment(c) – 0.0%
CDW LLC/CDW Finance Corp.
$	45,000		3.250	%	02/15/29	$       41,159
Oil Field Services – 1.3%
Aker BP ASA(c)(e)
	404,000		2.000		07/15/26	372,391
Apache Corp.
	20,000		6.000		01/15/37	19,676
BP Capital Markets America, Inc.(c)
	225,000		4.234		11/06/28	223,778
Devon Energy Corp.(c)
	221,000		5.875		06/15/28	222,951
	165,000		5.600		07/15/41	159,590
Diamondback Energy, Inc.(c)
	30,000		6.250		03/15/33	32,117
Ecopetrol SA(c)
	90,000		8.625		01/19/29	95,963
	40,000		6.875		04/29/30	39,400
	230,000		8.875		01/13/33	249,334
EQT Corp.(c)
	145,000		3.900		10/01/27	138,820
	45,000		7.000		02/01/30	48,286
	610,000		3.625	(e)	05/15/31	544,620
Exxon Mobil Corp.(c)
	60,000		3.043		03/01/26	58,275
Halliburton Co.
	5,000		6.700		09/15/38	5,846
Hess Corp.
	5,000		5.600		02/15/41	5,252
Marathon Petroleum Corp.(c)
	5,000		6.500		03/01/41	5,384
Occidental Petroleum Corp.
	278,000		7.875		09/15/31	315,853
Permian Resources Operating LLC(c)(e)
	471,000		7.000		01/15/32	485,775
Petroleos de Venezuela SA(h)
	2,950,000		0.000		10/28/22	213,285
	1,110,000		5.375		04/12/27	113,264
Phillips 66(c)
	200,000		1.300		02/15/26	185,682
Shell International Finance BV
	40,000		6.375		12/15/38	46,027
Sunoco LP/Sunoco Finance Corp.(c)(e)
	510,000		7.000		09/15/28	526,483
TotalEnergies Capital International SA(c)
	15,000		3.455		02/19/29	14,470
	50,000		2.829		01/10/30	45,987
	15,000		3.127		05/29/50	11,036
						4,179,545
Packaging(c) – 0.1%
Berry Global, Inc.
	375,000		1.570		01/15/26	348,720

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Pharmaceuticals(c) – 1.0%
AbbVie, Inc.
$	800,000		4.500	%	05/14/35	$      782,432
	225,000		4.450		05/14/46	206,899
Becton Dickinson & Co.
	5,000		3.700		06/06/27	4,846
	20,000		1.957		02/11/31	16,672
	10,000		4.298		08/22/32	9,668
Bristol-Myers Squibb Co.
	15,000		3.200		06/15/26	14,559
	20,000		3.400		07/26/29	18,965
	255,000		6.250		11/15/53	292,125
Cencora, Inc.
	250,000		3.450		12/15/27	240,880
Cigna Group
	184,000		2.400		03/15/30	161,208
	5,000		4.800		08/15/38	4,843
	25,000		3.400		03/15/50	18,486
CVS Health Corp.
	1,388,000		4.780		03/25/38	1,312,090
Merck & Co., Inc.
	10,000		3.400		03/07/29	9,603
PRA Health Sciences, Inc.(e)
	200,000		2.875		07/15/26	187,138
Viatris, Inc.
	20,000		4.000		06/22/50	14,076
						3,294,490
Pipelines – 1.4%
Cheniere Energy Partners LP(c)(e)
	230,000		5.950		06/30/33	236,095
DCP Midstream Operating LP(c)
	455,000		3.250		02/15/32	394,958
Enbridge Energy Partners LP
	10,000		7.500		04/15/38	11,679
Energy Transfer LP(c)
	200,000		4.250		04/01/24	199,060
	20,000		4.400		03/15/27	19,569
	725,000		5.500		06/01/27	734,635
	550,000		5.250		04/15/29	554,334
	5,000		6.125		12/15/45	5,058
	75,000		5.400		10/01/47	69,991
	5,000		6.000		06/15/48	5,053
	20,000		6.250		04/15/49	20,745
Galaxy Pipeline Assets Bidco Ltd.(e)
	200,000		2.625		03/31/36	164,750
Kinder Morgan, Inc.
	500		7.750		01/15/32	572
	27,000		5.450	(c)	08/01/52	25,932
Kinetik Holdings LP(c)(e)
	435,000		6.625		12/15/28	444,144
MPLX LP(c)
	225,000		4.800		02/15/29	223,580
	200,000		4.500		04/15/38	178,078
	10,000		4.700		04/15/48	8,639

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Pipelines – (continued)
NuStar Logistics LP(c)
$	165,000		5.750	%	10/01/25	$      164,614
Targa Resources Corp.(c)
	235,000		4.200		02/01/33	216,379
Targa Resources Partners LP/Targa Resources Partners Finance Corp.(c)
	25,000		5.500		03/01/30	24,974
	50,000		4.875		02/01/31	48,544
Western Midstream Operating LP(c)
	20,000		5.250		02/01/50	17,864
Williams Cos., Inc.(c)
	450,000		3.900		01/15/25	442,863
	425,000		5.650		03/15/33	444,337
	20,000		5.300		08/15/52	19,413
						4,675,860
Real Estate Investment Trust(c) – 1.8%
Alexandria Real Estate Equities, Inc.
	350,000		3.375		08/15/31	315,773
American Homes 4 Rent LP
	180,000		2.375		07/15/31	148,529
American Tower Corp.
	55,000		3.125		01/15/27	52,022
	5,000		3.650		03/15/27	4,812
	10,000		3.950		03/15/29	9,557
	20,000		2.300		09/15/31	16,561
Boston Properties LP
	25,000		2.750		10/01/26	23,192
	25,000		3.400		06/21/29	22,478
	10,000		2.900		03/15/30	8,567
Brixmor Operating Partnership LP
	5,000		3.900		03/15/27	4,765
Crown Castle, Inc.
	35,000		4.450		02/15/26	34,481
	45,000		4.000		03/01/27	43,559
CubeSmart LP
	265,000		2.500		02/15/32	220,173
Equinix, Inc.
	20,000		1.450		05/15/26	18,480
	45,000		2.900		11/18/26	42,811
	10,000		2.500		05/15/31	8,504
GLP Capital LP/GLP Financing II, Inc.
	60,000		5.375		04/15/26	59,728
Host Hotels & Resorts LP
	40,000		3.375		12/15/29	35,952
	224,000		2.900		12/15/31	188,227
Invitation Homes Operating Partnership LP
	300,000		2.300		11/15/28	267,117
Kilroy Realty LP
	397,000		4.750		12/15/28	378,210
NNN REIT, Inc.
	235,000		3.900		06/15/24	232,984
	400,000		4.000		11/15/25	391,800
Omega Healthcare Investors, Inc.
	15,000		3.625		10/01/29	13,277

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Real Estate Investment Trust(c) – (continued)
Prologis LP
$	600,000		1.750	%	07/01/30	$      503,508
Public Storage Operating Co.
	40,000		1.950		11/09/28	35,704
Regency Centers LP
	700,000		2.950		09/15/29	627,438
Retail Opportunity Investments Partnership LP
	550,000		6.750		10/15/28	578,341
Simon Property Group LP
	60,000		3.300		01/15/26	58,200
	10,000		2.200		02/01/31	8,386
Trust Fibra Uno(e)
	300,000		5.250		12/15/24	296,062
UDR, Inc.
	150,000		2.100		08/01/32	117,900
VICI Properties LP
	15,000		5.625		05/15/52	14,386
VICI Properties LP/VICI Note Co., Inc.(e)
	590,000		3.750		02/15/27	557,249
Welltower OP LLC
	55,000		2.050		01/15/29	48,406
	5,000		4.125		03/15/29	4,824
Weyerhaeuser Co.
	10,000		4.000		11/15/29	9,564
WP Carey, Inc.
	155,000		4.600		04/01/24	154,270
	105,000		4.000		02/01/25	103,442
	425,000		3.850		07/15/29	398,493
						6,057,732
Retailing – 1.5%
Arko Corp.(c)(e)
	470,000		5.125		11/15/29	407,763
AutoNation, Inc.(c)
	317,000		4.500		10/01/25	310,565
	450,000		4.750		06/01/30	434,291
AutoZone, Inc.(c)
	5,000		3.750		04/18/29	4,779
CK Hutchison International 20 Ltd.(c)(e)
	200,000		2.500		05/08/30	174,368
Dollar General Corp.(c)
	10,000		3.500		04/03/30	9,216
Dollar Tree, Inc.(c)
	975,000		4.000		05/15/25	957,703
Home Depot, Inc.
	125,000		3.250	(c)	04/15/32	115,544
	45,000		5.875		12/16/36	50,315
	10,000		5.950	(c)	04/01/41	11,190
Lowe’s Cos., Inc.(c)
	125,000		3.100		05/03/27	119,815
	425,000		1.700		09/15/28	376,040
	650,000		1.700		10/15/30	540,449
	1,450,000		3.750		04/01/32	1,356,112

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Retailing – (continued)
McDonald’s Corp.
$	30,000		6.300	%	03/01/38	$       34,116
						4,902,266
Semiconductors(c) –1.1%
Broadcom Corp./Broadcom Cayman Finance Ltd.
	25,000		3.875		01/15/27	24,398
Broadcom, Inc.(e)
	65,000		4.000		04/15/29	62,814
	302,000		4.150		04/15/32	285,019
	490,000		2.600		02/15/33	403,422
	640,000		3.469		04/15/34	557,062
	651,000		3.137		11/15/35	534,660
	650,000		3.500		02/15/41	515,866
Intel Corp.
	60,000		3.900		03/25/30	58,160
	650,000		5.200		02/10/33	679,139
Micron Technology, Inc.
	50,000		6.750		11/01/29	54,036
	350,000		2.703		04/15/32	293,783
NXP BV/NXP Funding LLC/NXP USA, Inc.
	275,000		3.400		05/01/30	252,676
Qorvo, Inc.
	20,000		4.375		10/15/29	19,066
QUALCOMM, Inc.
	40,000		3.250		05/20/27	38,727
	35,000		4.650		05/20/35	35,840
						3,814,668
Software – 1.6%
Autodesk, Inc.(c)
	10,000		2.850		01/15/30	9,021
Black Knight InfoServ LLC(c)(e)
	190,000		3.625		09/01/28	180,952
Fiserv, Inc.(c)
	60,000		3.200		07/01/26	57,753
MSCI, Inc.(c)(e)
	760,000		3.875		02/15/31	693,226
Oracle Corp.
	10,000		2.650	(c)	07/15/26	9,486
	2,239,000		2.950	(c)	04/01/30	2,020,809
	500,000		4.650	(c)	05/06/30	497,530
	490,000		2.875	(c)	03/25/31	433,934
	5,000		6.125		07/08/39	5,327
	30,000		3.600	(c)	04/01/40	23,992
	5,000		5.375		07/15/40	4,921
	10,000		4.125	(c)	05/15/45	8,191
	10,000		4.000	(c)	07/15/46	8,021
	10,000		3.950	(c)	03/25/51	7,860
	467,000		6.900	(c)	11/09/52	547,361
Salesforce, Inc.(c)
	10,000		2.900		07/15/51	7,160
Take-Two Interactive Software, Inc.(c)
	360,000		3.700		04/14/27	348,718

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Software – (continued)
VMware LLC(c)
$	175,000		1.800	%	08/15/28	$      153,584
Workday, Inc.(c)
	225,000		3.500		04/01/27	217,580
	150,000		3.800		04/01/32	139,775
						5,375,201
Telecommunication Services – 2.2%
AT&T, Inc.(c)
	336,000		2.300		06/01/27	312,026
	100,000		1.650		02/01/28	89,049
	500,000		2.750		06/01/31	438,060
	694,000		2.550		12/01/33	566,200
	175,000		4.900		08/15/37	169,414
	450,000		3.500		06/01/41	357,646
	65,000		4.750		05/15/46	58,932
	100,000		5.150		11/15/46	96,349
	35,000		4.500		03/09/48	30,661
British Telecommunications PLC
	35,000		9.625		12/15/30	43,322
Cisco Systems, Inc.
	20,000		5.900		02/15/39	22,206
Deutsche Telekom International Finance BV
	50,000		8.750		06/15/30	60,275
Motorola Solutions, Inc.(c)
	30,000		2.750		05/24/31	25,619
Rogers Communications, Inc.(c)
	25,000		4.350		05/01/49	21,168
Telefonica Emisiones SA
	10,000		7.045		06/20/36	11,322
T-Mobile USA, Inc.(c)
	408,000		3.500		04/15/25	399,558
	375,000		1.500		02/15/26	349,312
	5,000		2.625		04/15/26	4,758
	225,000		3.750		04/15/27	218,340
	275,000		2.050		02/15/28	248,199
	10,000		3.375		04/15/29	9,291
	520,000		2.875		02/15/31	457,938
	1,500,000		3.500		04/15/31	1,372,050
	350,000		5.200		01/15/33	358,592
	450,000		3.000		02/15/41	337,320
Verizon Communications, Inc.
	467,000		4.329		09/21/28	462,209
	975,000		2.550	(c)	03/21/31	840,859
	80,000		2.875	(c)	11/20/50	54,507
						7,415,182
Toys/Games/Hobbies(c) – 0.0%
Hasbro, Inc.
	5,000		3.550		11/19/26	4,742
	10,000		3.900		11/19/29	9,320
						14,062

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Transportation – 0.3%
Canadian National Railway Co.(c)
$	40,000		2.450	%	05/01/50	$       26,262
Canadian Pacific Railway Co.
	200,000		2.050	(c)	03/05/30	171,408
	25,000		5.950		05/15/37	26,706
CSX Corp.(c)
	625,000		3.800		03/01/28	614,144
FedEx Corp.(c)
	5,000		4.550		04/01/46	4,481
	5,000		4.050		02/15/48	4,168
Norfolk Southern Corp.(c)
	20,000		2.550		11/01/29	17,972
						865,141
TOTAL CORPORATE OBLIGATIONS (Cost $132,841,928)						$  127,855,590
Asset-Backed Securities(c) – 11.8%
Automotive – 0.9%
Bank of America Auto Trust Series 2023-2A, Class A2(e)
$	575,000		5.850	%	08/17/26	$      578,350
Ford Credit Auto Owner Trust Series 2023-C, Class A2A
	1,125,000		5.680		09/15/26	1,130,107
Santander Drive Auto Receivables Trust Series 2023-6, Class A2
	1,000,000		6.080		05/17/27	1,003,527
World Omni Auto Receivables Trust Series 2023-B, Class A2A
	429,072		5.250		11/16/26	428,270
						3,140,254
Collateralized Loan Obligations – 8.5%
AGL CLO 3 Ltd. Series 2020-3A, Class A(b)(e) (3 mo. USD Term SOFR + 1.562%)
	1,300,000		6.956		01/15/33	1,300,233
AMMC CLO XI Ltd. Series 2012-11A, Class A1R2(b)(e) (3 mo. USD Term SOFR + 1.272%)
	656,923		6.662		04/30/31	656,893
ARES LXIV CLO Ltd. Series 2022-64A, Class A1(b)(e) (3 mo. USD Term SOFR + 1.440%)
	1,925,000		6.834		04/15/35	1,925,250
Balboa Bay Loan Funding Ltd. Series 2023-1A, Class A(b)(e) (3 mo. USD Term SOFR + 1.900%)
	2,400,000		7.316		04/20/35	2,401,419
Benefit Street Partners CLO V-B Ltd. Series 2018-5BA, Class A1A(b)(e) (3 mo. USD Term SOFR + 1.352%)
	1,936,342		6.767		04/20/31	1,936,011
Cathedral Lake VII Ltd. Series 2021-7RA, Class D(b)(e) (3 mo. USD Term SOFR + 4.542%)
	250,000		9.944		01/15/32	246,704
CBAM Ltd. Series 2017-2A, Class AR(b)(e) (3 mo. USD Term SOFR + 1.452%)
	2,000,000		6.854		07/17/34	1,995,728
CIFC Funding Ltd. Series 2023-3A, Class E(b)(e)
	500,000		0.000		01/20/37	500,000
	400,000		0.000		01/20/37	400,000

Principal Amount		Interest Rate			Maturity Date	Value
Asset-Backed Securities(c) – (continued)
Collateralized Loan Obligations – (continued)
Dryden 68 CLO Ltd. Series 2019-68A, Class AR(b)(e) (3 mo. USD Term SOFR + 1.432%)
$	2,200,000		6.826	%	07/15/35	$    2,194,496
GoldenTree Loan Opportunities IX Ltd. Series 2014-9A, Class AR2(b)(e) (3 mo. USD Term SOFR + 1.372%)
	424,066		6.762		10/29/29	424,094
Halseypoint CLO 5 Ltd. Series 2021-5A, Class A1A(b)(e) (3 mo. USD Term SOFR + 1.472%)
	1,300,000		6.862		01/30/35	1,296,927
Halseypoint CLO 7 Ltd. Series 2023-7A, Class A(b)(e) (3 mo. USD Term SOFR + 2.250%)
	1,750,000		7.509		07/20/36	1,762,948
Hayfin U.S. XII Ltd. Series 2018-8A, Class A(b)(e) (3 mo. USD Term SOFR + 1.382%)
	285,228		6.797		04/20/31	285,215
Helios Issuer LLC Series 2023-GRID1, Class 1A(e)
	98,384		5.750		12/20/50	100,437
Invesco CLO Ltd. Series 2021-2A, Class A(b)(e) (3 mo. USD Term SOFR + 1.382%)
	400,000		6.776		07/15/34	399,151
JP Morgan Mortgage Trust Series 2023-HE3, Class A1(b)(e) (30 day USD SOFR Average + 1.600%)
	340,000		6.937		05/25/54	340,000
Logan CLO I Ltd. Series 2021-1A, Class A(b)(e) (3 mo. USD Term SOFR + 1.422%)
	1,900,000		6.837		07/20/34	1,899,977
MidOcean Credit CLO VIII Series 2018-8X, Class A2(b) (3 mo. USD Term SOFR + 1.562%)
	500,000		6.929		02/20/31	496,974
Mountain View CLO LLC Series 2016-1A, Class AR(b)(e) (3 mo. USD Term SOFR + 1.622%)
	1,200,000		7.016		04/14/33	1,192,862
Neuberger Berman Loan Advisers CLO 44 Ltd. Series 2021-44A, Class D(b)(e) (3 mo. USD Term SOFR + 3.112%)
	550,000		8.506		10/16/34	542,396
Neuberger Berman Loan Advisers CLO 45 Ltd. Series 2021-45A, Class A(b)(e) (3 mo. USD Term SOFR + 1.392%)
	460,000		6.786		10/14/35	459,979
Octagon Investment Partners 40 Ltd. Series 2019-1A, Class A1R(b)(e) (3 mo. USD Term SOFR + 1.432%)
	900,000		6.847		01/20/35	899,970
OHA Credit Funding 15 Ltd. Series 2023-15A, Class A(b)(e) (3 mo. USD Term SOFR + 1.830%)
	900,000		6.949		04/20/35	905,022
Pikes Peak CLO 3 Series 2019-3A, Class ARR(b)(e) (3 mo. USD Term SOFR + 1.462%)
	900,000		6.840		10/25/34	898,987
Southwick Park CLO LLC Series 2019-4A, Class A1R(b)(e) (3 mo. USD Term SOFR + 1.322%)
	1,000,000		6.737		07/20/32	997,082

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Asset-Backed Securities(c) – (continued)
Collateralized Loan Obligations – (continued)
TCW CLO Ltd. Series 2023-1A, Class A1N(b)(e) (3 mo. USD Term SOFR + 2.070%)
$	1,800,000		7.460	%	04/28/36	$    1,811,891
						28,270,646
Credit Card – 1.0%
Barclays Dryrock Issuance Trust Series 2023-1, Class A
	1,200,000		4.720		02/15/29	1,198,362
(30 day USD SOFR Average + 0.900%)
	1,000,000		6.227	(b)	08/15/28	1,001,349
Discover Card Execution Note Trust Series 2023-A1, Class A
	1,000,000		4.310		03/15/28	992,047
						3,191,758
Home Equity(b) – 0.4%
Citigroup Mortgage Loan Trust, Inc. Series 2005-HE4, Class M2 (1 mo. USD Term SOFR + 0.789%)
	206,830		6.145		10/25/35	199,034
Credit Suisse First Boston Mortgage Securities Corp. Series 2001-HE17, Class A1 (1 mo. USD Term SOFR + 0.734%)
	383		5.077		01/25/32	365
Home Equity Asset Trust Series 2002-1, Class A4 (1 mo. USD Term SOFR + 0.714%)
	257		6.070		11/25/32	230
Home Equity Loan Trust Series 2007-FRE1, Class 2AV3 (1 mo. USD Term SOFR + 0.344%)
	451,828		5.700		04/25/37	425,259
Morgan Stanley Mortgage Loan Trust Series 2007-7AX, Class 1A (1 mo. USD Term SOFR + 0.554%)
	2,425,324		5.910		04/25/37	618,757
Soundview Home Loan Trust Series 2007-NS1, Class A3 (1 mo. USD Term SOFR + 0.314%)
	15,889		5.670		01/25/37	15,851
						1,259,496
Student Loan(b) – 1.0%
AccessLex Institute Series 2004-1, Class A2 (90 day USD SOFR Average + 0.472%)
	280,939		5.824		09/26/33	277,174
Navient Student Loan Trust Series 2017-2A, Class A(e) (30 day USD SOFR Average + 1.164%)
	2,468,450		6.502		12/27/66	2,453,129
PHEAA Student Loan Trust Series 2016-1A, Class A(e) (30 day USD SOFR Average + 1.264%)
	645,190		6.602		09/25/65	646,172
						3,376,475
TOTAL ASSET-BACKED SECURITIES (Cost $39,349,707)						$   39,238,629

Principal Amount		Interest Rate			Maturity Date	Value
Agency Debentures – 1.6%
Sovereign – 1.6%
Federal Farm Credit Banks Funding Corp.
$	1,650,000		2.850	%	03/28/34	$    1,431,755
	1,700,000		3.500		09/01/32	1,597,303
	3,120,000		1.700		04/23/35	2,336,630
TOTAL AGENCY DEBENTURES (Cost $6,340,849)						$    5,365,688
Municipal Debt Obligations – 1.2%
California – 0.4%
California State GO Bonds Build America Taxable Series 2009(c)
$	210,000		7.550	%	04/01/39	$      265,148
East Bay Municipal Utility District Water System RB Build America Sub Series 2010
	900,000		5.874		06/01/40	986,669
						1,251,817
Illinois – 0.4%
Illinois State GO Bonds Build America Series 2010
	731,868		7.350		07/01/35	790,814
Illinois State GO Bonds Taxable-Pension Series 2003
	530,000		5.100		06/01/33	524,403
						1,315,217
New York – 0.3%
New York State Metropolitan Transportation Authority RB Refunding Subseries 2002 G-1B
	800,000		5.175		11/15/49	779,970
Port Authority of New York & New Jersey Consolidated Bonds - 192 Series 2015
	375,000		4.810		10/15/65	364,215
						1,144,185
Ohio – 0.1%
American Municipal Power-Ohio, Inc. RB Build America Taxable Series 2010
	240,000		6.270		02/15/50	261,634
TOTAL MUNICIPAL DEBT OBLIGATIONS (Cost $4,027,638)						$    3,972,853
Sovereign Debt Obligations – 0.6%
Euro – 0.1%
Ivory Coast Government International Bonds
EUR	120,000		4.875	%	01/30/32	$      111,361
Romania Government International Bonds (e)
	70,000		2.000		01/28/32	59,522
	80,000		3.375		01/28/50	59,970
						230,853
Sovereign – 0.3%
Ecuador Government International Bonds(e)(i)
$	41,572		0.000		07/31/30	11,785

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Sovereign Debt Obligations – (continued)
Sovereign – (continued)
Ivory Coast Government International Bonds
$	200,000		6.125	%	06/15/33	$    183,625
EUR	130,000		6.625		03/22/48	114,093
Mexico Government International Bonds(c)
$	624,000		3.771		05/24/61	421,785
Romania Government International Bonds
EUR	10,000		2.875		03/11/29	9,980
	190,000		3.624	(e)	05/26/30	192,589
	70,000		3.375		01/28/50	52,474
						986,331
United States Dollar – 0.2%
Hungary Government International Bonds
$	400,000		6.125		05/22/28	416,064
Israel Government AID Bonds(j)
	40,000		5.500		09/18/33	44,010
Panama Government International Bonds(c)
	200,000		4.500		01/19/63	130,688
Peru Government International Bonds(c)
	20,000		2.780		12/01/60	12,444
	100,000		3.230	(k)	07/28/21	62,156
						665,362
TOTAL SOVEREIGN DEBT OBLIGATIONS (Cost $2,388,060)						$  1,882,546
U.S. Treasury Obligations – 2.5%
U.S. Treasury Bonds
$	1,664,000		4.375	%	05/15/41	$  1,717,300
	2,630,000		4.000		11/15/42	2,560,551
	1,460,000		4.750		11/15/43	1,568,816
U.S. Treasury Inflation-Indexed Bonds
	2,691,156		1.500		02/15/53	2,449,489
U.S. Treasury Notes
	2,600		3.500		04/30/30	2,542
TOTAL U.S. TREASURY OBLIGATIONS (Cost $8,147,694)						$  8,298,698
Shares		Dividend Rate				Value
Investment Company(l) – 0.4%
Goldman Sachs Financial Square Government Fund — Institutional Shares
	1,423,078		5.248%			$  1,423,078
(Cost $1,423,078)
TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS – 108.8% (Cost $372,787,165)						$362,784,595

Principal Amount		Interest Rate			Maturity Date	Value
Short-term Investments(b) – 0.3%
Certificates of Deposit – 0.3%
Banco Santander SA (Secured Overnight Financing Rate + 0.490%)
$	1,000,000		5.890	%	02/09/24	$  1,000,486
(Cost $1,000,000)
TOTAL SHORT-TERM INVESTMENTS (Cost $1,000,000)						$  1,000,486
TOTAL INVESTMENTS – 109.1% (Cost $373,787,165)						$363,785,081
LIABILITIES IN EXCESS OF  OTHER ASSETS – (9.1)%						(30,378,248)
NET ASSETS – 100.0%						$333,406,833

The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.
(a)	Security with a notional or nominal principal amount. The actual effective yield of this security is different than the stated interest rate.
(b)	Variable rate security. Except for floating rate notes (for which final maturity is disclosed), maturity date disclosed is the next interest reset date. Interest rate disclosed is that which is in effect on December 31, 2023.
(c)	Security with "Call" features with resetting interest rates. Maturity dates disclosed are the final maturity dates.
(d)	Security with a notional or nominal principal amount. The actual effective yield of this security is different than the stated interest rate.
(e)	Exempt from registration under Rule 144A of the Securities Act of 1933.
(f)	Coupon changes periodically based upon a predetermined schedule. Interest rate disclosed is that which is in effect on December 31, 2023.
(g)	TBA (To Be Announced) Securities are purchased on a forward commitment basis with an approximate principal amount and no defined maturity date. The actual principal and maturity date will be determined upon settlement when the specific mortgage pools are assigned. Total market value of TBA securities (excluding forward sales contracts, if any) amounts to $41,355,728 which represents approximately 12.4% of net assets as of December 31, 2023.
(h)	Security is currently in default and/or non-income producing.
(i)	Issued with a zero coupon. Income is recognized through the accretion of discount.
(j)	Guaranteed by the United States Government until maturity. Total market value for these securities amounts to $44,010, which represents approximately 0% of the Fund’s net assets as of December 31, 2023
(k)	Actual maturity date is July 28, 2121.
(l)	Represents an affiliated Issuer.

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS — At December 31, 2023, the Fund had the following forward foreign currency exchange contracts:

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS WITH UNREALIZED GAIN

Counterparty	Currency Purchased		Currency Sold		Settlement Date		Unrealized Gain
JPMorgan Securities, Inc.	AUD	438,000	JPY	41,087,947		03/21/24	$	4,056
	AUD	3,630,670	USD	2,364,263		02/12/24		113,290
	AUD	5,383,056	USD	3,584,934		03/20/24		92,231
	CAD	2,107,358	USD	1,540,246		02/09/24		51,042
	CAD	5,285,442	USD	3,940,249		03/20/24		52,995
	CHF	195,901	EUR	208,320		01/15/24		3,187
	CHF	1,238,828	EUR	1,317,154		01/25/24		21,398
	CHF	916,049	USD	1,055,655		02/23/24		39,543
	CHF	2,512,669	USD	2,887,225		03/20/24		125,250
	CNH	8,214,141	USD	1,158,000		03/20/24		1,234
	COP	1,536,610,964	USD	371,871		02/07/24		21,501
	COP	1,008,725,225	USD	244,782		02/09/24		13,359
	COP	2,647,869,473	USD	607,380		02/16/24		69,384
	COP	2,065,542,421	USD	498,756		05/10/24		20,653
	EUR	764,718	CZK	18,813,855		01/25/24		4,583
	EUR	217,461	GBP	188,463		01/25/24		64
	EUR	2,978,417	GBP	2,571,114		03/20/24		20,123
	EUR	267,000	PLN	1,156,377		03/20/24		2,147
	EUR	1,447,874	SEK	16,044,898		01/25/24		7,563
	EUR	2,153,451	USD	2,370,950		01/02/24		6,536
	EUR	3,402,220	USD	3,728,668		01/18/24		30,061
	EUR	12,238,481	USD	13,294,267		02/14/24		240,891
	EUR	8,048,329	USD	8,757,004		02/23/24		147,026
	EUR	2,427,367	USD	2,660,374		02/26/24		25,369
	EUR	2,000,724	USD	2,188,571		03/20/24		27,287
	EUR	10,169,420	USD	10,955,559		04/05/24		314,390
	GBP	231,392	EUR	266,760		01/15/24		296
	GBP	1,221,398	USD	1,484,184		01/10/24		72,760
	GBP	1,788,014	USD	2,247,716		02/09/24		31,878
	GBP	1,864,192	USD	2,358,664		03/20/24		18,463
	ILS	596,318	USD	162,228		03/20/24		2,881
	JPY	91,795,013	USD	626,823		02/13/24		28,658
	JPY	798,701,743	USD	5,551,115		03/21/24		186,255
	KRW	755,279,750	USD	575,000		03/20/24		10,961
	MXN	13,558,314	USD	749,549		02/07/24		43,755
	MXN	5,990,427	USD	329,281		03/08/24		19,576
	MXN	1,910,765	USD	107,919		03/20/24		3,137
	MXN	14,578,512	USD	789,534		04/10/24		54,949
	NOK	13,829,618	USD	1,244,445		02/05/24		117,982
	NOK	15,791,592	USD	1,484,198		03/20/24		72,875
	NZD	1,285,449	AUD	1,189,000		01/25/24		1,725
	NZD	1,773,417	USD	1,091,194		03/07/24		30,097
	NZD	1,349,869	USD	842,111		03/20/24		11,378
	PLN	6,773,134	USD	1,676,881		03/20/24		42,580
	SEK	24,877,559	EUR	2,226,346		01/25/24		8,804
	SEK	60,095,242	USD	5,556,448		01/30/24		409,614
	SEK	33,159,431	USD	3,235,070		03/20/24		63,028
	SGD	301,461	USD	228,200		01/16/24		405
	SGD	1,929,214	USD	1,455,517		01/25/24		8,137
	SGD	2,382,586	USD	1,779,744		03/20/24		32,306
	TWD	34,193,586	USD	1,097,517		03/13/24		34,671
	USD	8,550	COP	30,585,944		02/16/24		732

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS WITH UNREALIZED GAIN (continued)

Counterparty	Currency Purchased		Currency Sold		Settlement Date		Unrealized Gain
JPMorgan Securities, Inc. (continued)	USD	178,128	COP	700,220,067		05/10/24	$	2,047
	USD	907,282	EUR	817,872		01/18/24		3,708
	USD	350,679	EUR	314,334		02/23/24		2,924
	USD	10,229	EUR	8,898		02/26/24		384
	USD	10,353	EUR	8,874		04/05/24		519
	USD	17,336	MXN	293,980		02/07/24		135
	ZAR	5,331,857	USD	285,819		03/20/24		3,612
TOTAL							$	2,776,395
FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS WITH UNREALIZED LOSS
Counterparty	Currency Purchased		Currency Sold		Settlement Date		Unrealized Loss
JPMorgan Securities, Inc.	AUD	3,379,341	NZD	3,650,960		01/25/24	$	(3,318	)
	CHF	741,300	EUR	801,027		01/25/24		(1,404	)
	CNH	4,267,528	USD	603,508		03/20/24		(1,246	)
	CZK	7,882,515	EUR	320,412		01/25/24		(1,937	)
	EUR	353,142	AUD	579,047		03/20/24		(4,432	)
	EUR	739,829	CHF	695,286		01/25/24		(11,367	)
	EUR	523,000	CHF	491,165		03/20/24		(9,628	)
	EUR	216,936	CZK	5,366,887		01/25/24		(29	)
	EUR	1,069,757	GBP	928,343		01/25/24		(1,267	)
	EUR	1,097,922	NOK	13,041,295		03/20/24		(69,909	)
	EUR	458,000	SEK	5,165,246		03/20/24		(6,497	)
	EUR	249,158	USD	276,418		02/26/24		(739	)
	GBP	182,931	EUR	211,712		01/25/24		(762	)
	GBP	1,094,449	EUR	1,272,762		03/20/24		(14,032	)
	GBP	695,637	USD	889,446		03/20/24		(2,404	)
	NZD	1,349,254	AUD	1,252,415		01/25/24		(1,189	)
	NZD	437,531	AUD	406,127		03/20/24		(786	)
	SEK	10,179,357	EUR	922,251		01/25/24		(8,862	)
	SEK	12,952,400	USD	1,294,334		03/20/24		(6,064	)
	SGD	322,605	USD	245,293		01/25/24		(539	)
	TRY	8,287,966	USD	261,533		03/20/24		(702	)
	USD	2,325,923	AUD	3,571,794		02/12/24		(111,453	)
	USD	1,617,718	CAD	2,213,356		02/09/24		(53,609	)
	USD	3,860,736	CAD	5,190,485		03/20/24		(60,766	)
	USD	1,123,741	CHF	975,082		02/23/24		(42,035	)
	USD	2,562,386	CHF	2,207,728		03/20/24		(84,492	)
	USD	3,410,480	CNH	24,376,311		03/20/24		(29,667	)
	USD	976,532	COP	4,020,117,313		02/09/24		(52,247	)
	USD	476,793	COP	2,059,149,602		02/16/24		(49,501	)
	USD	1,074,528	COP	4,433,005,667		05/10/24		(40,215	)
	USD	551,795	CZK	12,495,955		03/20/24		(5,793	)
	USD	2,356,030	EUR	2,152,610		01/02/24		(20,527	)
	USD	2,020,097	EUR	1,833,990		01/18/24		(6,072	)
	USD	13,370,216	EUR	12,313,474		02/14/24		(247,880	)
	USD	9,507,943	EUR	8,837,299		02/23/24		(268,939	)
	USD	1,001,107	EUR	910,751		02/26/24		(6,587	)
	USD	4,810,262	EUR	4,439,464		03/20/24		(106,573	)
	USD	10,103,479	EUR	9,407,596		04/05/24		(322,201	)
	USD	2,646,479	GBP	2,177,651		01/10/24		(129,421	)
	USD	2,244,716	GBP	1,786,342		02/09/24		(32,748	)

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS WITH UNREALIZED LOSS (continued)

Counterparty	Currency Purchased		Currency Sold			Settlement Date		Unrealized Loss
JPMorgan Securities, Inc. (continued)	USD	4,111,781		GBP	3,265,822		03/20/24	$	(52,635	)
	USD	450,804		ILS	1,667,270		03/20/24		(10,833	)
	USD	1,275,237		JPY	186,751,892		02/13/24		(58,303	)
	USD	5,202,540		JPY	729,383,204		03/21/24		(36,888	)
	USD	375,571		KRW	490,390,138		03/20/24		(4,882	)
	USD	746,983		MXN	13,264,333		02/07/24		(29,119	)
	USD	338,427		MXN	5,990,427		03/08/24		(10,430	)
	USD	176,950		MXN	3,134,943		03/20/24		(5,256	)
	USD	818,783		MXN	14,578,513		04/10/24		(25,700	)
	USD	1,197,448		NOK	13,307,332		02/05/24		(113,527	)
	USD	215,047		NOK	2,355,261		03/20/24		(17,185	)
	USD	1,230,141		NZD	1,999,235		03/07/24		(33,929	)
	USD	2,589,382		NZD	4,214,288		03/20/24		(75,209	)
	USD	579,000		PLN	2,282,153		03/20/24		(359	)
	USD	6,343,623		SEK	68,108,584		01/30/24		(417,976	)
	USD	2,854,698		SEK	29,849,918		03/20/24		(114,230	)
	USD	792,017		SGD	1,048,219		01/25/24		(3,246	)
	USD	581,000		SGD	770,949		03/20/24		(5,337	)
	USD	856,003		ZAR	16,474,991		03/20/24		(38,314	)
TOTAL								$	(2,871,197	)
FORWARD SALES CONTRACTS — At December 31, 2023, the Fund had the following forward sales contracts:

Description	Interest Rate			Maturity Date(a)		Settlement Date		Principal Amount		Value
Government National Mortgage Association		3.000	%		TBA - 30yr		01/22/24	$	(3,000,000)	$	(2,717,905)
Government National Mortgage Association		3.500			TBA - 30yr		01/16/24		(1,000,000)		(931,438)
Uniform Mortgage-Backed Security		2.000			TBA - 30yr		01/16/24		(2,000,000)		(1,635,344)
Uniform Mortgage-Backed Security		3.000			TBA - 30yr		01/16/24		(5,000,000)		(4,425,781)
Uniform Mortgage-Backed Security		4.500			TBA - 30yr		01/16/24		(16,000,000)		(15,522,493)
Uniform Mortgage-Backed Security		5.000			TBA - 30yr		01/16/24		(15,000,000)		(14,849,993)
Uniform Mortgage-Backed Security		4.000			TBA - 30yr		01/16/24		(3,000,000)		(2,839,217)
Uniform Mortgage-Backed Security		5.500			TBA - 30yr		01/16/24		(11,000,000)		(11,054,146)
(PROCEEDS RECEIVABLE: $(53,121,660))										$	(53,976,317)

(a) TBA (To Be Announced) Securities are purchased on a forward commitment basis with an approximate principal amount and no defined maturity date. The actual principal and maturity date will be determined upon settlement when the specific mortgage pools are assigned.

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

FUTURES CONTRACTS — At December 31, 2023, the Fund had the following futures contracts:

Description	Number of Contracts	Expiration Date	Notional Amount			Unrealized Appreciation/ (Depreciation)
Long position contracts:
10 Year U.S. Treasury Notes	85	03/19/24	$	9,595,703		$	(6,782	)
2 Year U.S. Treasury Notes	132	03/28/24		27,180,656			89,921
20 Year U.S. Treasury Bonds	70	03/19/24		8,745,625			256,081
5 Year U.S. Treasury Notes	323	03/28/24		35,133,820			108,346
Ultra Long U.S. Treasury Bonds	164	03/19/24		21,909,375			1,404,299
Total						$	1,851,865
Short position contracts:
10 Year U.K. Long Gilt	(1)	03/26/24		(130,843	)		(8,453	)
5 Year German Euro-Bobl	(92)	03/07/24		(12,114,484	)		(166,886	)
5 Year German Euro-Bund	(4)	03/07/24		(605,936	)		(10,891	)
5 Year German Euro-Oat	(5)	03/07/24		(725,902	)		(3,949	)
Ultra 10-Year U.S. Treasury Note	(45)	03/19/24		(5,310,703	)		(226,863	)
Total						$	(417,042	)
TOTAL FUTURES CONTRACTS						$	1,434,823

SWAP CONTRACTS — At December 31, 2023, the Fund had the following swap contracts:

CENTRALLY CLEARED INTEREST RATE SWAP CONTRACTS

Payments Made by the Fund	Payments Received by Fund	Termination Date	Notional Amount (000s)			Market Value			Upfront Premium (Received) Paid			Unrealized Appreciation/ (Depreciation)
1M BID Average(a)	13.950%(a)	01/02/24	BRL	2,500	(b)	$	3,444		$	(8,562	)	$	12,006
12.300%(a)	1M BID Average(a)	01/02/24		140	(b)		89			(1	)		90
11.814(a)	1M BID Average(a)	01/02/24		2	(b)		5			1			4
1M BID Average(a)	12.060(a)	01/02/25		4,500	(b)		1,087			98,706			(97,619	)
1M BID Average(a)	12.063(a)	01/02/25		5,320	(b)		11,274			116,231			(104,957	)
13.300(a)	1M BID Average(a)	01/02/25		3,370	(b)		(18,839	)		(96,743	)		77,904
6M EURO(c)	3.720(d)	03/18/25	EUR	39,060			300,225			(56,496	)		356,721
1M BID Average(a)	10.850(a)	01/02/26	BRL	16,520	(b)		36,167			3,788			32,379
9.500(a)	Mexico Interbank TIIE 28 Days(a)	03/18/26	MXN	9,930			(1,936	)		(261	)		(1,675	)
1.250(d)	12M CHFOR(d)	03/20/26	CHF	40,360			(183,835	)		(202,997	)		19,162
3.000(d)	12M EURO(d)	03/20/26	EUR	66,710			(960,450	)		(888,218	)		(72,232	)
4M CNRR(c)	2.000(c)	03/20/26	CNY	8,770			(292	)		(2,790	)		2,498
3M STIBOR(c)	3.500(d)	03/20/26	SEK	390,720			626,996			403,799			223,197
3M KWCDC(c)	3.750(c)	03/20/26	KRW	1,677,240			15,669			4,141			11,528
12M CDOR(e)	3.750(e)	03/20/26	CAD	20,760			46,528			(24,626	)		71,154
3.750(c)	3M AUDOR(c)	03/20/26	AUD	32,060			17,334			134,390			(117,056	)
12M SOFR(d)	4.000(d)	03/20/26	$	14,190			48,546			14,505			34,041
6M NIBOR(e)	4.250(d)	03/20/26	NOK	208,580			201,715			156,159			45,556
12M GBP(d)	5.250(d)	03/20/26	GBP	35,630			1,253,433			894,147			359,286
3M JIBAR(c)	8.000(c)	03/20/26	ZAR	23,740			7,903			8,113			(210	)
12M JYOR(d)	0.500(d)	08/02/26	JPY	1,349,550			30,517			6,595			23,922
1M BID Average(a)	13.030(a)	01/04/27	BRL	930	(b)		12,982			—			12,982
11.230(a)	1M BID Average(a)	01/04/27		2,840	(b)		(9,594	)		5,450			(15,044	)
10.286(a)	1M BID Average(a)	01/04/27		3,450	(b)		(6,432	)		—			(6,432	)
12M SOFR(d)	3.350(d)	10/06/27	$	44,210			207,247			(157,896	)		365,143
6M EURO(e)	3.000(d)	10/20/27	EUR	19,130			358,752			(142,440	)		501,192
12M SOFR(d)	3.730(d)	11/28/27	$	8,540			98,103			41,446			56,657
12M EURO(d)	2.673(d)	04/22/28	EUR	20,080			511,427			83,326			428,101
2.852(d)	3M EURO(c)	04/22/28		20,080			(500,584	)		(71,843	)		(428,741	)

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

CENTRALLY CLEARED INTEREST RATE SWAP CONTRACTS (continued)

Payments Made by the Fund	Payments Received by Fund	Termination Date		Notional Amount (000s)			Market Value			Upfront Premium (Received) Paid			Unrealized Appreciation/ (Depreciation)
0.500%(d)	12M JYOR(d)		08/03/28	JPY	2,810,140		$	60,434		$	(34,974	)	$	95,408
12M SOFR(d)	3.696%(d)		09/22/28	$	36,080			357,102			(76,498	)		433,600
12M EURO(d)	2.500(d)		10/19/28	EUR	10,800			203,013			75,504			127,509
11.500(a)	1M BID Average(a)		01/02/29	BRL	3,620	(b)		(33,285	)		(13,682	)		(19,603	)
1.250(d)	12M CHFOR(d)		03/20/29	CHF	1,890			(23,166	)		(20,008	)		(3,158	)
2.750(d)	12M EURO(d)		03/20/29	EUR	2,090			(70,355	)		(43,161	)		(27,194	)
4M CNRR (c)	2.500(c)		03/20/29	CNY	5,710			8,006			1,823			6,183
3M KWCDC(c)	3.750(c)		03/20/29	KRW	1,936,790			55,490			12,527			42,963
6M NIBOR(e)	3.750(d)		03/20/29	NOK	44,840			81,806			70,884			10,922
8.500(c)	3M JIBAR(c)		03/20/29	ZAR	14,600			(13,962	)		(14,385	)		423
12M SOFR(d)	4.250(d)		03/20/29	$	12,240			456,268			388,392			67,876
12M GBP(d)	4.750(d)		03/20/29	GBP	4,110			348,385			201,127			147,258
4.000(e)	6M AUDOR(e)		03/20/29	AUD	4,290			(11,462	)		50,330			(61,792	)
3.000(d)	6M EURO(e)		03/20/29	EUR	1,110			(36,964	)		(29,345	)		(7,619	)
0.500(d)	12M JYOR(d)		03/21/29	JPY	8,005,000			32,548			561,449			(528,901	)
2.680(d)	12M SOFR(d)		07/28/32	$	10,090			254,403			125,890			128,513
12M JYOR(d)	1.250(d)		08/02/33	JPY	579,210			9,522			(1,635	)		11,157
1.250(d)	12M JYOR(d)		08/03/33		776,000			(12,665	)		(41,401	)		28,736
12M SOFR(d)	4.306(d)		10/05/33	$	15,330			550,940			1,758			549,182
6M EURO(e)	3.000(d)		11/10/33	EUR	14,390			301,100			184,595			116,505
12M SOFR(d)	3.500(d)		12/20/33	$	140	(b)		300			718			(418	)
9.000(a)	Mexico Interbank TIIE 28 Days(a)		03/08/34	MXN	5,690			(14,308	)		(11,190	)		(3,118	)
12M CHFOR(d)	1.500(d)		03/20/34	CHF	2,390			90,856			85,082			5,774
3.250(e)	12M CDOR(e)		03/20/34	CAD	580			(8,060	)		1,716			(9,776	)
12M EURO(d)	2.750(d)		03/20/34	EUR	2,070			101,161			59,345			41,816
6M EURO(e)	3.000(d)		03/20/34		2,760			145,712			128,689			17,023
3M KWCDC(c)	3.750(c)		03/20/34	KRW	517,690			27,704			19,875			7,829
3.000(d)	3M STIBOR(c)		03/20/34	SEK	49,970			(301,541	)		(207,244	)		(94,297	)
6M AUDOR(e)	4.250(e)		03/20/34	AUD	3,610			13,526			(83,944	)		97,470
12M GBP(d)	4.250(d)		03/20/34	GBP	140			14,975			7,563			7,412
12M SOFR(d)	4.250(d)		03/20/34	$	7,140			496,734			455,016			41,718
3M NZDOR(c)	4.750(e)		03/20/34	NZD	3,230			106,287			3,735			102,552
6M WIBOR(e)	5.000(d)		03/20/34	PLN	2,530			28,742			26,877			1,865
3.750(d)	6M NIBOR(e)		03/20/34	NOK	11,080			(42,877	)		(29,300	)		(13,577	)
3M JIBAR(c)	9.500(c)		03/20/34	ZAR	4,960			5,883			3,197			2,686
1.000(d)	12M JYOR(d)		03/21/34	JPY	537,000			(42,163	)		30,341			(72,504	)
3.240(d)	12M SOFR(d)		10/06/35	$	10,150			65,702			(93,091	)		158,793
3.781(d)	12M SOFR(d)		09/22/36		8,140			(256,368	)		119,870			(376,238	)
12M SOFR(d)	2.910(d)		07/28/37		27,130			(593,461	)		(375,955	)		(217,506	)
6M EURO(e)	2.152(d)		08/09/37	EUR	11,580			(283,689	)		(520,124	)		236,435
12M SOFR(d)	3.391(d)		05/10/38	$	28,210			(169,531	)		(230,346	)		60,815
12M JYOR(d)	1.500(d)		08/03/38	JPY	841,000			(43,896	)		(63,611	)		19,715
1.451(d)	6M EURO(e)		08/10/42	EUR	29,640			1,081,952			868,499			213,453
2.080(d)	12M SOFR(d)		07/28/47	$	26,920			611,722			432,164			179,558
6M EURO(e)	1.051(d)		08/11/47	EUR	17,340			(535,866	)		(376,787	)		(159,079	)
2.564(d)	12M SOFR(d)		05/11/53	$	24,010			255,219			191,978			63,241
2.000(d)	6M EURO(e)		05/17/53	EUR	5,330			18,468			30,256			(11,788	)
2.500(d)	6M EURO(e)		11/10/53		6,420			(308,282	)		(221,203	)		(87,079	)
3.613(d)	12M SOFR(d)		11/15/53	$	8,180			(353,015	)		(54,327	)		(298,688	)
3.512(d)	12M SOFR(d)		11/29/53		2,700			(97,451	)		(48,572	)		(48,879	)
2.500(d)	6M EURO(e)		03/20/54	EUR	1,700			(77,552	)		(50,049	)		(27,503	)
TOTAL							$	4,561,522		$	1,816,292		$	2,745,230

(a) Payments made at monthly.

(b) Represents forward starting interest rate swaps whose effective dates of commencement of accruals and cash flows occur subsequent to December 31, 2023.

(c) Payments made quarterly.

(d) Payments made annually.

(e) Payments made semi-annually.

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

OVER THE COUNTER CREDIT DEFAULT SWAP CONTRACTS

Reference Obligation/Index	Financing Rate Paid by the Fund(a)		Credit Spread at December 31, 2023(b)		Counterparty		Termination Date		Notional Amount (000s)		Value			Upfront Premiums (Received) Paid			Unrealized Appreciation/ (Depreciation)
Protection Sold:
CMBX.NA.AAA.16		0.500%		0.766%		MS & Co. Int. PLC		04/17/65	$	7,900	$	(139,763	)	$	(155,540	)	$	15,777
TOTAL											$	(139,763	)	$	(155,540	)	$	15,777

(a) Payments made at monthly.

(b) Credit spread on the referenced obligation, together with the term of the swap contract, are indicators of payment/performance risk. The likelihood of a credit event occurring which would require a fund or its counterparty to make a payment or otherwise be required to perform under the swap contract is generally greater as the credit spread and the term of the swap contract increase.

CENTRALLY CLEARED CREDIT DEFAULT SWAP CONTRACTS

Referenced Obligation/Index	Financing Rate Received/(Paid) by the Fund(a)		Credit Spread at December 31, 2023(b)		Termination Date		Notional Amount (000s)		Value		Upfront Premiums (Received) Paid		Unrealized Appreciation/ (Depreciation)
Protection Sold:
General Electric Co. 6.750%, 03/15/32		1.000%		0.285%		06/20/26	$	1,525	$	26,256	$	10,257	$	15,999
The Boeing Co., 8.750%, 15/08/21		1.000		0.225		06/20/24		500		2,001		1,016		985
TOTAL									$	28,257	$	11,273	$	16,984

(a) Payments made quarterly.

(b) Credit spread on the referenced obligation, together with the term of the swap contract, are indicators of payment/performance risk. The likelihood of a credit event occurring which would require a fund or its counterparty to make a payment or otherwise be required to perform under the swap contract is generally greater as the credit spread and the term of the swap contract increase.

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

PURCHASED AND WRITTEN OPTIONS CONTRACTS — At December 31, 2023, the Fund had the following purchased and written options:

OVER-THE-COUNTER INTEREST RATE SWAPTIONS

Description	Counterparty	Exercise Rate		Expiration Date		Number of Contracts		Notional Amount			Market Value			Premiums Paid (Received) by Fund			Unrealized Appreciation/ (Depreciation)
Purchased option contracts
Calls
3M IRS	MS & Co. Int. PLC		3.425%		03/13/2024		24,350,000	$	24,350,000		$	9,409		$	26,232		$	(16,823	)
3M IRS	MS & Co. Int. PLC		3.800		03/13/2024		48,700,000		48,700,000			3,903			14,308			(10,405	)
							73,050,000	$	73,050,000		$	13,312		$	40,540		$	(27,228	)
Puts
3M IRS	Citibank NA		4.050		02/05/2024		11,820,000		11,820,000			83			2,318			(2,235	)
3M IRS	Citibank NA		3.700		02/05/2024		11,820,000		11,820,000			725			13,667			(12,942	)
3M IRS	Citibank NA		3.750		02/05/2024		11,820,000		11,820,000			530			10,494			(9,964	)
3M IRS	Citibank NA		4.000		02/05/2024		11,820,000		11,820,000			112			2,929			(2,817	)
							47,280,000	$	47,280,000		$	1,450		$	29,408		$	(27,958	)
Total purchased option contracts							120,330,000	$	120,330,000		$	14,762		$	69,948		$	(55,186	)
Written option contracts
Calls
6M IRS	Citibank NA		3.720		03/14/2024		(22,060,000)		(22,060,000	)		(172,471	)		(50,129	)		(122,342	)
6M IRS	Citibank NA		3.744		03/14/2024		(22,060,000)		(22,060,000	)		(177,869	)		(48,800	)		(129,069	)
1M IRS	JPMorgan Securities, Inc.		2.378		01/29/2024		(2,430,000)		(2,430,000	)		(16,880	)		(26,989	)		10,109
1M IRS	MS & Co. Int. PLC		3.835		01/11/2024		(2,420,000)		(2,420,000	)		(78,284	)		(29,161	)		(49,123	)
1M IRS	MS & Co. Int. PLC		3.550		01/18/2024		(2,430,000)		(2,430,000	)		(32,973	)		(27,034	)		(5,939	)
1M IRS	MS & Co. Int. PLC		3.392		01/29/2024		(2,440,000)		(2,440,000	)		(20,934	)		(27,206	)		6,272
2M IRS	MS & Co. Int. PLC		3.948		01/03/2024		(2,410,000)		(2,410,000	)		(98,214	)		(26,329	)		(71,885	)
3M IRS	MS & Co. Int. PLC		3.650		03/13/2024		(73,050,000)		(73,050,000	)		(11,016	)		(34,975	)		23,959
1M IRS	UBS AG (London)		2.660		01/15/2024		(2,420,000)		(2,420,000	)		(6,896	)		(25,280	)		18,384
1M IRS	UBS AG (London)		2.431		01/22/2024		(2,430,000)		(2,430,000	)		(17,973	)		(24,972	)		6,999
							(134,150,000)	$	(134,150,000	)	$	(633,510	)	$	(320,875	)	$	(312,635	)
Puts
3M IRS	Citibank NA		3.900		02/05/2024		(23,640,000)		(23,640,000	)		(415	)		(9,274	)		8,859
3M IRS	Citibank NA		3.850		02/05/2024		(23,640,000)		(23,640,000	)		(566	)		(12,655	)		12,089
6M IRS	Citibank NA		3.720		03/14/2024		(22,060,000)		(22,060,000	)		(2,477	)		(50,129	)		47,652
6M IRS	Citibank NA		3.744		03/14/2024		(22,060,000)		(22,060,000	)		(2,241	)		(48,800	)		46,559
1M IRS	JPMorgan Securities, Inc.		2.378		01/29/2024		(2,430,000)		(2,430,000	)		(40,918	)		(26,989	)		(13,929	)
1M IRS	MS & Co. Int. PLC		3.835		01/11/2024		(2,420,000)		(2,420,000	)		(1,282	)		(29,161	)		27,879
1M IRS	MS & Co. Int. PLC		3.550		01/18/2024		(2,430,000)		(2,430,000	)		(12,975	)		(27,034	)		14,059
1M IRS	MS & Co. Int. PLC		3.392		01/29/2024		(2,440,000)		(2,440,000	)		(31,979	)		(27,206	)		(4,773	)
2M IRS	MS & Co. Int. PLC		3.948		01/03/2024		(2,410,000)		(2,410,000	)		—			(26,329	)		26,329
1M IRS	UBS AG (London)		2.660		01/15/2024		(2,420,000)		(2,420,000	)		(47,848	)		(25,280	)		(22,568	)
1M IRS	UBS AG (London)		2.431		01/22/2024		(2,430,000)		(2,430,000	)		(30,343	)		(24,972	)		(5,371	)
							(108,380,000)	$	(108,380,000	)	$	(171,044	)	$	(307,829	)	$	136,785
Total written option contracts							(242,530,000)	$	(242,530,000	)	$	(804,554	)	$	(628,704	)	$	(175,850	)
TOTAL							(122,200,000)	$	(122,200,000	)	$	(789,792	)	$	(558,756	)	$	(231,036	)

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

OVER-THE-COUNTER OPTIONS ON FOREIGN CURRENCY

Description	Counterparty	Exercise Rate		Expiration Date		Number of Contracts		Notional Amount			Market Value			Premiums Paid (Received) by Fund			Unrealized Appreciation/ (Depreciation)
Purchased option contracts
Calls
Call USD/Put COP	Barclays Bank PLC		4,232.000%		05/08/2024		552,000	$	552,000		$	10,923		$	25,337		$	(14,414	)
Call EUR/Put USD	Deutsche Bank AG		1.107		01/16/2024		4,276,000		4,276,000			25,009			25,588			(579	)
Call USD/Put COP	MS & Co. Int. PLC		4,300.000		02/07/2024		588,000		588,000			1,696			26,372			(24,676	)
Call USD/Put MXN	MS & Co. Int. PLC		17.875		02/05/2024		592,000		592,000			2,250			20,448			(18,198	)
Call USD/Put COP	UBS AG (London)		4,200.000		02/14/2024		578,000		578,000			3,470			28,455			(24,985	)
							6,586,000	$	6,586,000		$	43,348		$	126,200		$	(82,852	)
Puts
Put USD/Call COP	Barclays Bank PLC		4,232.000		05/08/2024		552,000		552,000			45,964			25,337			20,627
Put USD/Call MXN	BofA Securities LLC		17.875		02/05/2024		592,000		592,000			30,208			20,448			9,760
Put EUR/Call USD	Capital Securities Corp		1.091		01/16/2024		4,261,831		4,261,831			9,339			23,573			(14,234	)
Put EUR/Call USD	Capital Securities Corp		1.083		02/22/2024		3,064,000		3,064,000			10,726			21,767			(11,041	)
Put GBP/Call USD	HSBC Bank PLC		1.198		02/07/2024		1,766,000		1,766,000			288			13,586			(13,298	)
Put EUR/Call USD	MS & Co. Int. PLC		1.060		04/03/2024		3,336,569		3,336,569			7,849			75,883			(68,034	)
Put USD/Call COP	MS & Co. Int. PLC		4,200.000		02/14/2024		578,000		578,000			46,052			22,629			23,423
Put EUR/Call USD	UBS AG (London)		1.082		02/21/2024		4,234,000		4,234,000			13,849			58,359			(44,510	)
Put USD/Call COP	UBS AG (London)		4,300.000		02/07/2024		588,000		588,000			60,752			26,372			34,380
							18,972,400	$	18,972,400		$	225,027		$	287,954		$	(62,927	)
Total purchased option contracts							25,558,400	$	25,558,400		$	268,375		$	414,154		$	(145,779	)
Written option contracts
Calls
Call EUR/Put SEK	Barclays Bank PLC		11.275		01/10/2024		(748,000)		(748,000	)		(851	)		(6,643	)		5,792
Call EUR/Put CZK	BofA Securities LLC		24.320		01/02/2024		(723,000)		(723,000	)		(11,875	)		(4,349	)		(7,526	)
Call USD/Put MXN	BofA Securities LLC		17.875		02/05/2024		(592,000)		(592,000	)		(2,250	)		(21,318	)		19,068
Call EUR/Put GBP	Capital Securities Corp		0.858		01/04/2024		(741,000)		(741,000	)		(7,946	)		(4,512	)		(3,434	)
Call EUR/Put USD	Capital Securities Corp		1.107		01/16/2024		(4,276,000)		(4,276,000	)		(25,009	)		(14,847	)		(10,162	)
Call AUD/Put NZD	Citibank NA		1.074		01/12/2024		(1,219,000)		(1,219,000	)		(5,027	)		(4,383	)		(644	)
Call AUD/Put NZD	Citibank NA		1.079		01/18/2024		(1,210,000)		(1,210,000	)		(3,459	)		(4,368	)		909
Call EUR/Put SEK	Deutsche Bank AG		11.300		01/04/2024		(742,000)		(742,000	)		(144	)		(6,471	)		6,327
Call EUR/Put CHF	HSBC Bank PLC		0.947		01/04/2024		(742,000)		(742,000	)		(57	)		(4,855	)		4,798
Call AUD/Put NZD	JPMorgan Securities, Inc.		1.071		01/04/2024		(1,212,000)		(1,212,000	)		(5,825	)		(3,979	)		(1,846	)
Call USD/Put SGD	JPMorgan Securities, Inc.		1.322		01/25/2024		(817,000)		(817,000	)		(3,337	)		(4,255	)		918
Call AUD/Put NZD	MS & Co. Int. PLC		1.081		01/25/2024		(1,204,000)		(1,204,000	)		(3,436	)		(4,518	)		1,082
Call EUR/Put CHF	MS & Co. Int. PLC		0.942		01/25/2024		(744,000)		(744,000	)		(1,605	)		(5,366	)		3,761
Call EUR/Put SEK	MS & Co. Int. PLC		11.125		01/25/2024		(744,000)		(744,000	)		(6,296	)		(7,003	)		707
Call USD/Put SGD	MS & Co. Int. PLC		1.340		01/12/2024		(802,000)		(802,000	)		(347	)		(4,312	)		3,965
Call EUR/Put CHF	UBS AG (London)		0.948		01/18/2024		(745,000)		(745,000	)		(612	)		(4,820	)		4,208
Call EUR/Put CZK	UBS AG (London)		24.650		01/25/2024		(744,000)		(744,000	)		(5,854	)		(4,814	)		(1,040	)
Call EUR/Put SEK	UBS AG (London)		11.080		01/29/2024		(742,000)		(742,000	)		(8,467	)		(7,042	)		(1,425	)
Call USD/Put SGD	UBS AG (London)		1.327		01/17/2024		(815,000)		(815,000	)		(1,891	)		(4,087	)		2,196
							(19,562,000)	$	(19,562,000	)	$	(94,288	)	$	(121,942	)	$	27,654
Puts
Put EUR/Call SEK	Barclays Bank PLC		11.275		01/10/2024		(748,000)		(748,000	)		(12,439	)		(6,643	)		(5,796	)
Put EUR/Call CZK	BofA Securities LLC		24.320		01/02/2024		(723,000)		(723,000	)		(7	)		(4,349	)		4,342
Put EUR/Call GBP	Capital Securities Corp		0.858		01/04/2024		(741,000)		(741,000	)		(89	)		(4,512	)		4,423
Put AUD/Call NZD	Citibank NA		1.074		01/12/2024		(1,219,000)		(1,219,000	)		(1,506	)		(4,383	)		2,877

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

OVER-THE-COUNTER OPTIONS ON FOREIGN CURRENCY (continued)

Description	Counterparty	Exercise Rate	Expiration Date		Number of Contracts		Notional Amount			Market Value			Premiums Paid (Received) by Fund			Unrealized Appreciation/ (Depreciation)
Written option contracts (continued)
Puts (continued)
Put AUD/Call NZD	Citibank NA	1.079%		01/18/2024		(1,210,000)	$	(1,210,000	)	$	(3,645	)	$	(4,368	)	$	723
Put EUR/Call SEK	Deutsche Bank AG	11.125		01/25/2024		(744,000)		(744,000	)		(6,766	)		(7,003	)		237
Put EUR/Call CHF	HSBC Bank PLC	0.942		01/25/2024		(744,000)		(744,000	)		(14,083	)		(5,366	)		(8,717	)
Put AUD/Call NZD	JPMorgan Securities, Inc.	1.071		01/04/2024		(1,212,000)		(1,212,000	)		(245	)		(3,979	)		3,734
Put USD/Call SGD	JPMorgan Securities, Inc.	1.322		01/25/2024		(817,000)		(817,000	)		(5,826	)		(4,255	)		(1,571	)
Put AUD/Call NZD	MS & Co. Int. PLC	1.081		01/25/2024		(1,204,000)		(1,204,000	)		(4,991	)		(4,518	)		(473	)
Put EUR/Call CHF	MS & Co. Int. PLC	0.948		01/18/2024		(745,000)		(745,000	)		(18,036	)		(4,820	)		(13,216	)
Put EUR/Call SEK	MS & Co. Int. PLC	11.080		01/29/2024		(742,000)		(742,000	)		(5,632	)		(7,042	)		1,410
Put USD/Call MXN	MS & Co. Int. PLC	17.875		02/05/2024		(592,000)		(592,000	)		(30,209	)		(21,318	)		(8,891	)
Put USD/Call SGD	MS & Co. Int. PLC	1.340		01/12/2024		(802,000)		(802,000	)		(13,277	)		(4,312	)		(8,965	)
Put EUR/Call CHF	UBS AG (London)	0.947		01/04/2024		(742,000)		(742,000	)		(16,226	)		(4,856	)		(11,370	)
Put EUR/Call CZK	UBS AG (London)	24.650		01/25/2024		(744,000)		(744,000	)		(3,162	)		(4,814	)		1,652
Put EUR/Call SEK	UBS AG (London)	11.300		01/04/2024		(742,000)		(742,000	)		(13,483	)		(6,471	)		(7,012	)
Put EUR/Call USD	UBS AG (London)	1.082		02/21/2024		(4,234,000)		(4,234,000	)		(13,849	)		(144,187	)		130,338
Put USD/Call SGD	UBS AG (London)	1.327		01/17/2024		(815,000)		(815,000	)		(7,087	)		(4,087	)		(3,000	)
						(19,520,000)	$	(19,520,000	)	$	(170,558	)	$	(251,283	)	$	80,725
Total written option contracts						(39,082,000)	$	(39,082,000	)	$	(264,846	)	$	(373,225	)	$	108,379
TOTAL						(13,523,600)	$	(13,523,600	)	$	3,529		$	40,929		$	(37,400	)

Currency Abbreviations:
AUD	— Australian Dollar
BRL	— Brazil Real
CAD	— Canadian Dollar
CHF	— Swiss Franc
CNH	— Chinese Yuan Renminbi Offshore
CNY	— Chinese Yuan Renminbi
COP	— Colombia Peso
CZK	— Czech Republic Koruna
EUR	— Euro
GBP	— British Pound
ILS	— Israeli Shekel
JPY	— Japanese Yen
KRW	— South Korean Won
MXN	— Mexican Peso
NOK	— Norwegian Krone
NZD	— New Zealand Dollar
PLN	— Polish Zloty
SEK	— Swedish Krona
SGD	— Singapore Dollar
TRY	— Turkish Lira
TWD	— Taiwan Dollar
USD	— U.S. Dollar
ZAR	— South African Rand

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

Investment Abbreviations:
CLO	—  Collateralized Loan Obligation
CMT	—  Constant Maturity Treasury Indexes
GO	—  General Obligation
ICE	—  Inter-Continental Exchange
LLC	—  Limited Liability Company
LP	—  Limited Partnership
MSCI	—  Morgan Stanley Capital International
PLC	—  Public Limited Company
RB	—  Revenue Bond
REIT	—  Real Estate Investment Trust
REMICS	—  Real Estate Mortgage Investment Conduits
RFUCC1 yr.	— 1 year Refinitiv USD IBOR Consumer Cash Fallbacks Term
SOFR	—  Secured Overnight Financing Rate
STACR	—  Structured Agency Credit Risk
USD	—  US.Dollar
Abbreviations:
1M IRS	—  1 Month Interest Rate Swaptions
2M IRS	—  2 Months Interest Rate Swaptions
3M IRS	—  3 Months Interest Rate Swaptions
6M IRS	—  6 Months Interest Rate Swaptions
AUDOR	—  Australian Dollar Offered Rate
BofA Securities	—  Bank of America Securities LLC
CDOR	—  Canadian Dollar Offered Rate
CHFOR	—  Swiss Franc Offered Rate
EURO	—  Euro Offered Rate
JIBAR	—  Johannesburg Interbank Agreed Rate
JYOR	—  Japanese Yen Offered Rate
KWCDC	—  South Korean Won Certificate of Deposit
MS & Co. Int. PLC	—  Morgan Stanley & Co. International PLC
NIBOR	—  Norwegian Interbank Offered Rate
NZDOR	—  New Zealand Dollar Offered Rate
SOFR	—  Secured Overnight Financing Rate
STIBOR	—  Stockholm Interbank Offered Rate
TIIE	— La Tasa de Interbank Equilibrium Interest Rate
USD	—  US.Dollar
WIBOR	—  Warsaw Interbank Offered Rate

GOLDMAN SACHS CORE FIXED INCOME FUND

Schedule of Investments

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Obligations – 44.5%
Collateralized Mortgage Obligations – 1.5%
Sequential Fixed Rate – 0.7%
Federal Home Loan Mortgage Corp. REMICS Series 4246, Class PT
$	81,396		6.500	%	02/15/36	$       85,685
Federal Home Loan Mortgage Corp. REMICS Series 2755, Class ZA
	188,426		5.000		02/15/34	191,148
Federal National Mortgage Association REMICS Series 2011-99, Class DB
	349,242		5.000		10/25/41	352,506
Federal National Mortgage Association REMICS Series 2012- 111, Class B
	61,608		7.000		10/25/42	66,806
Federal National Mortgage Association REMICS Series 2012- 153, Class B
	216,272		7.000		07/25/42	236,227
Federal National Mortgage Association REMICS Series 2011-52, Class GB
	363,908		5.000		06/25/41	370,637
Government National Mortgage Association REMICS Series 2021-135, Class A
	14,366,200		2.000	(a)	08/20/51	12,044,796
						13,347,805
Sequential Floating Rate(a) – 0.8%
Angel Oak Mortgage Trust Series 2021-6, Class A1
	1,406,739		1.458	(b)(c)	09/25/66	1,128,693
Chase Home Lending Mortgage Trust Series 2023-RPL2, Class A1
	2,290,536		3.250	(b)(c)	03/25/63	2,029,555
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2021-DNA5, Class M2 (30 day USD SOFR Average + 1.650%)
	443,056		6.987	(b)(c)	01/25/34	444,824
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2020-DNA5, Class M2 (30 day USD SOFR Average + 2.800%)
	266,851		8.137	(b)(c)	10/25/50	270,734
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2022-DNA3, Class M1A (30 day USD SOFR Average + 2.000%)
	468,164		7.337	(b)(c)	04/25/42	472,644
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2022-DNA1, Class M1A (30 day USD SOFR Average + 1.000%)
	1,406,623		6.337	(b)(c)	01/25/42	1,402,010
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2022-HQA1, Class M1B (30 day USD SOFR Average + 3.500%)
	780,000		8.837	(b)(c)	03/25/42	808,481
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes Series 2023-HQA2, Class M1B (30 Day USD SOFR Average + 3.350%)
	1,387,000		8.687	(b)(c)	06/25/43	1,462,482
Federal National Mortgage Association Connecticut Avenue Securities Series 2021-R01, Class 1M2 (30 day USD SOFR Average + 1.550%)
	978,000		6.887	(b)(c)	10/25/41	978,193

Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Obligations – (continued)
Sequential Floating Rate(a) – (continued)
Federal National Mortgage Association Connecticut Avenue Securities Series 2021-R03, Class 1M2 (30 day USD SOFR Average + 1.650%)
$	884,000		6.987	%(b)(c)	12/25/41	$      872,558
Federal National Mortgage Association Connecticut Avenue Securities Series 2023-R03, Class 2M2 (30 day USD SOFR Average + 3.900%)
	739,908		9.237	(b)(c)	04/25/43	792,090
Federal National Mortgage Association Connecticut Avenue Securities Series 2023-R05, Class 1M2 (30 day USD SOFR Average + 3.100%)
	730,000		8.437	(b)(c)	06/25/43	762,164
Federal National Mortgage Association Connecticut Avenue Securities Series 2023-R08, Class 1M2 (30 day USD SOFR Average + 2.500%)
	690,000		7.837	(b)(c)	10/25/43	705,211
HarborView Mortgage Loan Trust Series 2005-16, Class 2A1A (1 mo. USD Term SOFR + 0.594%)
	42,169		5.950	(c)	01/19/36	42,141
Impac CMB Trust Series 2004-8, Class 1A (1 mo. USD Term SOFR + 0.834%)
	42,433		6.190	(c)	10/25/34	40,618
JP Morgan Mortgage Trust Series 2021-LTV2, Class A1
	3,250,020		2.520	(b)(c)	05/25/52	2,639,668
Mill City Mortgage Loan Trust Series 2017-2, Class A3
	268,174		3.235	(b)(c)	07/25/59	257,107
OBX Trust Series 2022-NQM7, Class A1
	430,194		5.110	(b)(d)	08/25/62	429,690
Verus Securitization Trust Series 2022-INV1, Class A1
	254,384		5.041	(b)(d)	08/25/67	251,757
WaMu Mortgage Pass-Through Certificates Trust Series 2002-AR19, Class A7
	8,304		4.745	(c)	02/25/33	7,714
Wells Fargo Mortgage-Backed Securities Trust Series 2019-3, Class A1
	84,165		3.500	(b)(c)	07/25/49	75,687
						15,874,021
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS						$   29,221,826
Commercial Mortgage-Backed Securities – 2.8%
Sequential Fixed Rate – 1.4%
3650R Commercial Mortgage Trust Series 2021-PF1, Class AS
$	2,526,000		2.778	%(c)	11/15/54	$    2,040,654
Bank Series 2019-BN21, Class A5
	950,000		2.851	(a)	10/17/52	839,930
Bank Series 2023-BNK46, Class A4
	3,350,000		5.745	(a)	08/15/56	3,533,365
Benchmark Mortgage Trust Series 2023-B39, Class A5
	1,325,000		5.754	(a)	07/15/56	1,392,318
BMO Mortgage Trust Series 2022-C3, Class A5
	850,000		5.313	(a)	09/15/54	865,956
BMO Mortgage Trust Series 2023-C5, Class A5
	4,400,000		5.765	(a)	06/15/56	4,631,689
BMO Mortgage Trust Series 2023-C7, Class A5
	3,000,000		6.160	(a)	12/15/56	3,255,416

GOLDMAN SACHS CORE FIXED INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Obligations – (continued)
Sequential Fixed Rate – (continued)
BX Trust Series 2022-CLS, Class A
$	2,400,000		5.760	%(b)	10/13/27	$    2,393,043
Citigroup Commercial Mortgage Trust Series 2019-C7, Class A4
	1,020,000		3.102	(a)	12/15/72	914,838
DOLP Trust Series 2021-NYC, Class A
	4,650,000		2.956	(b)	05/10/41	3,829,435
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series K-161, Class A2
	3,450,000		4.900	(a)	10/25/33	3,554,406
						27,251,050
Sequential Floating Rate(c) –1.4%
BBCMS Mortgage Trust Series 2023-C21, Class AS
	2,400,000		6.296	(a)	09/15/56	2,484,017
BBCMS Mortgage Trust Series 2023-5C23, Class A3
	5,700,000		6.675	(a)	12/15/56	6,077,390
BX Commercial Mortgage Trust Series 2023-VLT2, Class A (1 mo. USD Term SOFR + 2.281%)
	1,800,000		7.643	(b)	06/15/40	1,795,635
BX Trust Series 2021-AR1A, Class C (1 mo. USD Term SOFR + 1.760%)
	1,350,000		7.123	(b)	10/15/36	1,304,653
BX Trust Series 2022-PSB, Class A (1 mo. USD Term SOFR + 2.451%)
	1,594,383		7.813	(b)	08/15/39	1,593,512
Citigroup Commercial Mortgage Trust Series 2023-PRM3, Class A
	3,100,000		6.360	(b)	07/10/28	3,183,758
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series K-152, Class A2
	3,600,000		3.780	(a)	11/25/32	3,416,850
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series KF153, Class AS (30 day USD SOFR Average + 0.680%)
	2,600,000		6.011	(a)	02/25/33	2,593,731
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series K510, Class A2
	1,350,000		5.069	(a)	10/25/28	1,378,633
Wells Fargo Commercial Mortgage Trust Series 2022-C62, Class A4
	3,100,000		4.000	(a)	04/15/55	2,870,643
						26,698,822
TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES						$   53,949,872
Federal Agencies – 40.2%
Adjustable Rate Federal National Mortgage Association(c) – 0.0%
(1 yr. CMT + 2.170%)
$	994		5.040	%	06/01/33	$        1,005
(RFUCC1 yr. Treasury + 1.646%)
	120,677		5.896		07/01/34	122,436
(RFUCC1 yr. Treasury + 1.566%)
	497,786		5.644		09/01/34	503,547
(RFUCC1 yr. Treasury + 1.739%)
	221,722		4.714		05/01/35	225,886

Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Obligations – (continued)
Adjustable Rate Federal National Mortgage Association(c) – (continued)
(RFUCC1 yr. Treasury + 1.233%)
$	119,356		4.337	%	06/01/35	$      120,308
						973,182
Federal Home Loan Mortgage Corp. – 0.1%
	3,781		5.500		10/01/25	3,799
	7,183		7.500		12/01/30	7,610
	3,594		7.500		01/01/31	3,805
	4,093		5.000		10/01/33	4,131
	663		5.000		04/01/35	669
	6,414		5.000		07/01/35	6,481
	36,880		5.000		12/01/35	37,533
	90,153		5.000		01/01/38	91,558
	186,179		5.000		01/01/39	189,255
	71,326		5.000		06/01/39	72,634
	7,413		4.000		06/01/40	7,216
	3,768		5.000		08/01/40	3,849
	1,162		4.500		11/01/40	1,159
	48,376		4.000		02/01/41	47,030
	3,820		5.000		06/01/41	3,898
	4,101		4.000		11/01/41	3,974
	999,463		4.500		08/01/48	991,977
						1,476,578
Federal National Mortgage Association – 0.7%
	6,853		8.000		02/01/31	7,026
	11,112		7.000		03/01/31	11,677
	14,460,140		3.500		09/01/62	13,002,954
						13,021,657
Government National Mortgage Association – 13.7%
	4,233		6.000		11/15/38	4,443
	37,006		5.000		07/15/40	37,585
	489		5.000		01/15/41	488
	2,552		4.000		02/20/41	2,494
	4,077		4.000		11/20/41	3,981
	683		4.000		01/20/42	667
	2,172		4.000		04/20/42	2,121
	1,372		4.000		10/20/42	1,339
	20,606		4.000		08/20/43	20,099
	1,931		4.000		03/20/44	1,882
	2,383		4.000		05/20/44	2,322
	164,790		4.000		11/20/44	160,575
	10,812		4.000		05/20/45	10,535
	1,456,841		4.000		07/20/45	1,419,583
	23,152		4.000		10/20/45	22,545
	3,963,737		3.500		04/20/47	3,742,560
	4,174,800		3.500		12/20/47	3,934,458
	114,288		4.500		02/20/48	113,662
	300,514		4.500		04/20/48	297,460
	798,125		4.500		05/20/48	788,768
	762,962		5.000		07/20/48	767,119
	1,294,472		4.500		08/20/48	1,276,867
	687,413		5.000		08/20/48	690,300
	5,501,462		4.500		09/20/48	5,426,642
	5,608		3.500		09/20/48	5,285
	866,469		5.000		10/20/48	870,107

GOLDMAN SACHS CORE FIXED INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Obligations – (continued)
Government National Mortgage Association – (continued)
$	2,727,137		5.000	%	11/20/48	$    2,738,588
	4,937,246		4.500		12/20/48	4,867,014
	1,542,562		5.000		12/20/48	1,548,558
	2,820,661		4.500		01/20/49	2,779,656
	2,466,358		5.000		01/20/49	2,475,944
	1,932,653		4.000		02/20/49	1,866,315
	612,065		4.500		02/20/49	602,976
	489,791		4.500		03/20/49	482,670
	1,725,280		4.000		03/20/49	1,666,060
	873,098		5.000		03/20/49	876,491
	7,989		3.500		04/20/49	7,522
	1,957,553		4.000		04/20/49	1,890,360
	605,795		4.000		05/20/49	584,433
	19,289		3.500		08/20/49	18,123
	3,162,794		3.000		08/20/49	2,883,509
	2,151,629		5.000		08/20/49	2,163,353
	1,200,380		3.500		09/20/49	1,127,571
	736,119		4.500		10/20/49	725,648
	15,368,513		3.000		10/20/49	14,002,877
	578,899		3.500		12/20/49	543,652
	1,698,319		3.500		02/20/50	1,594,914
	5,752,531		3.000		03/20/50	5,246,096
	160,800		3.500		06/20/50	150,617
	374,204		3.500		07/20/50	351,290
	1,054,017		4.000		01/20/51	1,011,086
	2,532,830		3.500		03/20/51	2,378,028
	734,101		3.000		07/20/51	665,995
	1,515,363		2.500		09/20/51	1,309,642
	1,800,128		2.500		10/20/51	1,563,061
	7,946,931		3.000		11/20/51	7,185,527
	2,820,864		2.500		11/20/51	2,447,608
	6,689,128		3.000		12/20/51	6,072,731
	10,185,882		2.500		12/20/51	8,815,189
	966,879		2.500		01/20/52	835,014
	35,765,138		4.500		09/20/52	34,899,638
	1,875,030		3.500		02/20/53	1,750,203
	9,000,000		2.000		TBA-30yr(e)	7,622,209
	8,000,000		2.500		TBA-30yr(e)	7,007,750
	6,000,000		5.000		TBA-30yr(e)	5,963,567
	6,000,000		5.500		TBA-30yr(e)	6,037,222
	34,000,000		6.000	(e)	TBA-30yr	34,556,005
	62,000,000		6.500	(e)	TBA-30yr	63,455,004
						264,373,603
Uniform Mortgage-Backed Security – 25.7%
	7,703		7.000		08/01/27	7,805
	349		6.500		09/01/27	351
	20,685		7.000		03/01/28	21,052
	894		6.500		05/01/28	909
	4,241		4.500		04/01/39	4,235
	3,631		4.500		05/01/39	3,624
	4,306		4.500		07/01/39	4,299
	14,929		4.500		08/01/39	14,899
	124,112		4.500		12/01/39	123,891
	8,254		4.500		04/01/41	8,207
	238,998		4.500		05/01/41	237,692
	41,852		4.500		08/01/41	41,780
	10,984		3.000		11/01/42	10,105

Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Obligations – (continued)
Uniform Mortgage-Backed Security – (continued)
$	19,093		3.000	%	12/01/42	$       17,689
	11,082		3.000		12/01/42	10,180
	12,119		3.000		12/01/42	11,170
	30,543		3.000		12/01/42	28,192
	27,706		3.000		12/01/42	25,799
	37,311		3.000		12/01/42	34,505
	11,963		3.000		12/01/42	11,048
	130,634		3.000		12/01/42	120,206
	53,617		3.000		01/01/43	49,613
	13,912		3.000		01/01/43	12,895
	6,192		3.000		01/01/43	5,725
	38,014		3.000		01/01/43	34,915
	8,117		3.000		01/01/43	7,494
	102,648		3.000		01/01/43	95,003
	29,916		3.000		01/01/43	27,516
	9,310		3.000		01/01/43	8,557
	20,739		3.000		01/01/43	19,330
	23,746		3.000		01/01/43	21,804
	19,917		3.000		01/01/43	18,318
	5,985		3.000		01/01/43	5,654
	11,616		3.000		01/01/43	10,674
	28,745		3.000		01/01/43	26,435
	7,204		3.000		01/01/43	6,631
	15,061		3.000		01/01/43	13,843
	8,195		3.000		01/01/43	7,543
	59,576		3.000		02/01/43	55,005
	15,544		3.000		03/01/43	14,276
	36,601		3.000		03/01/43	33,930
	15,035		3.000		03/01/43	13,884
	287,442		3.000		03/01/43	264,311
	94,113		3.000		03/01/43	86,581
	4,046		3.000		03/01/43	3,720
	62,220		3.000		04/01/43	57,396
	25,751		3.000		04/01/43	23,629
	41,616		3.000		04/01/43	38,269
	146,301		3.000		04/01/43	134,549
	117,697		3.000		04/01/43	108,200
	46,375		3.000		04/01/43	42,679
	351,766		3.000		04/01/43	323,515
	19,007		3.000		05/01/43	17,506
	47,010		3.000		05/01/43	43,213
	19,615		3.000		05/01/43	17,973
	174,254		3.000		05/01/43	160,169
	195,258		3.000		05/01/43	179,568
	17,289		3.000		05/01/43	15,868
	58,833		3.000		05/01/43	54,016
	32,647		3.000		06/01/43	29,957
	22,599		3.000		06/01/43	20,771
	15,828		3.000		07/01/43	14,531
	441,026		3.000		07/01/43	405,196
	261,418		5.000		05/01/44	265,621
	2,663,011		4.000		12/01/44	2,570,351
	1,347,844		4.500		04/01/45	1,346,320
	167,733		4.500		05/01/45	167,333
	407,514		4.500		06/01/45	404,394
	1,680,259		4.000		08/01/45	1,624,221
	3,280,025		4.000		08/01/45	3,171,660
	31,808		4.000		03/01/46	30,643

GOLDMAN SACHS CORE FIXED INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Obligations – (continued)
Uniform Mortgage-Backed Security – (continued)
$	27,468		4.000	%	03/01/46	$       26,509
	32,814		4.000		06/01/46	31,612
	9,741		4.000		08/01/46	9,384
	72,161		4.000		10/01/46	69,517
	11,437		4.000		10/01/46	11,018
	117,675		4.000		06/01/47	113,641
	864,324		4.500		07/01/47	856,054
	657,462		4.500		07/01/47	651,171
	388,668		4.500		11/01/47	384,827
	190,297		4.000		12/01/47	183,831
	712,480		4.000		01/01/48	688,051
	560,918		4.000		02/01/48	541,685
	914,746		4.000		02/01/48	882,809
	47,816		4.500		02/01/48	47,224
	133,949		4.000		02/01/48	129,733
	414,143		4.000		02/01/48	399,684
	1,077,072		4.000		03/01/48	1,039,132
	380,469		4.000		03/01/48	367,423
	80,061		4.500		05/01/48	79,019
	565,029		4.000		06/01/48	545,302
	525,384		4.000		06/01/48	507,041
	13,586		4.500		06/01/48	13,405
	9,467		4.500		07/01/48	9,341
	278,002		4.000		07/01/48	268,296
	514,498		4.000		07/01/48	496,536
	221,050		4.000		07/01/48	213,194
	1,909		4.500		07/01/48	1,883
	1,724,046		4.000		08/01/48	1,662,777
	8,264		4.500		08/01/48	8,151
	44,983		4.500		09/01/48	44,384
	516,881		4.500		09/01/48	512,420
	373,542		4.500		09/01/48	368,334
	3,005,836		5.000		11/01/48	3,043,513
	132,921		4.500		11/01/48	130,919
	144,006		4.500		11/01/48	141,998
	475,166		4.500		11/01/48	468,541
	470,768		4.500		11/01/48	464,204
	453,736		4.500		11/01/48	447,410
	871,766		4.500		12/01/48	858,521
	317,066		4.500		12/01/48	312,645
	42,544		4.500		12/01/48	41,951
	955,255		4.500		01/01/49	940,742
	279,959		4.500		01/01/49	276,055
	209,583		4.500		01/01/49	206,398
	908,055		4.500		02/01/49	894,258
	134,971		4.500		02/01/49	132,939
	848,079		3.000		02/01/49	767,035
	3,760		4.500		03/01/49	3,703
	425,164		4.500		06/01/49	417,947
	70,989		4.500		06/01/49	69,783
	71,760		4.500		07/01/49	70,540
	189,572		3.500		07/01/49	177,032
	1,839,083		3.500		07/01/49	1,717,429
	1,369,924		4.500		07/01/49	1,346,542
	521,394		4.500		07/01/49	512,495
	876,543		4.500		08/01/49	861,582
	134,372		4.500		08/01/49	132,088
	1,302,827		3.500		08/01/49	1,216,646

Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Obligations – (continued)
Uniform Mortgage-Backed Security – (continued)
$	6,198,525		3.000	%	09/01/49	$    5,602,320
	2,821,413		5.000		10/01/49	2,832,091
	1,206,570		3.000		10/01/49	1,090,516
	1,726,206		3.000		12/01/49	1,547,332
	155,231		4.500		01/01/50	152,582
	121,346		4.500		02/01/50	119,286
	2,176,269		4.500		03/01/50	2,135,213
	8,992,292		4.000		03/01/50	8,644,622
	20,011,758		4.500		03/01/50	19,820,698
	2,497,746		5.000		03/01/50	2,507,199
	15,448		4.500		04/01/50	15,113
	504,256		4.500		05/01/50	493,258
	12,435		4.500		05/01/50	12,197
	488,805		4.500		05/01/50	478,175
	504,315		4.500		05/01/50	493,390
	2,649,200		2.500		09/01/50	2,297,636
	21,914,748		2.000		10/01/50	18,027,363
	3,174,510		3.000		10/01/50	2,845,857
	6,418,228		3.000		10/01/50	5,787,854
	6,367,286		3.000		10/01/50	5,708,089
	4,900,602		3.000		10/01/50	4,419,284
	6,037,760		3.000		11/01/50	5,422,113
	21,915,649		2.000		11/01/50	18,021,305
	2,913,379		2.500		11/01/50	2,517,653
	7,973,134		3.000		12/01/50	7,165,127
	10,607,570		2.500		01/01/51	9,048,969
	4,666,957		2.500		02/01/51	3,991,298
	203,789		4.500		03/01/51	199,345
	5,373,426		2.500		05/01/51	4,645,229
	11,497,547		2.500		05/01/51	9,871,355
	13,201,960		2.000		05/01/51	10,818,540
	470,057		2.000		08/01/51	385,367
	75,559		2.000		08/01/51	61,848
	5,812,519		2.500		09/01/51	5,001,204
	8,365,105		2.500		09/01/51	7,197,499
	10,128,733		2.500		09/01/51	8,714,959
	172,955		2.000		09/01/51	141,570
	473,761		2.000		09/01/51	387,790
	154,713		2.000		09/01/51	127,171
	1,785,950		2.000		09/01/51	1,462,166
	499,616		4.500		10/01/51	485,073
	62,227		2.000		10/01/51	50,920
	3,489,682		2.000		10/01/51	2,856,423
	19,682,341		2.000		01/01/52	16,071,095
	2,856,623		2.000		02/01/52	2,336,073
	31,499,126		2.000		02/01/52	25,746,449
	25,688,790		2.000		02/01/52	21,001,336
	161,383		4.500		03/01/52	156,470
	625,884		2.000		03/01/52	511,145
	385,373		2.500		03/01/52	327,647
	9,002,725		2.500		03/01/52	7,656,612
	2,866,215		2.000		04/01/52	2,340,710
	707,684		4.500		04/01/52	688,465
	3,068,324		4.500		04/01/52	2,975,047
	1,215,377		4.500		04/01/52	1,178,983
	92,119		2.000		04/01/52	75,230
	5,261,609		2.500		04/01/52	4,471,958
	5,992,388		2.500		04/01/52	5,096,389

GOLDMAN SACHS CORE FIXED INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Obligations – (continued)
Uniform Mortgage-Backed Security – (continued)
$	1,348,647		2.500	%	04/01/52	$    1,146,994
	957,863		2.000		05/01/52	782,244
	1,377,991		4.500		05/01/52	1,336,727
	5,103,677		2.500		05/01/52	4,340,560
	629,890		2.500		05/01/52	535,707
	1,804,263		5.000		07/01/52	1,806,580
	5,306,071		5.000		08/01/52	5,311,228
	5,557,382		5.500		09/01/52	5,656,734
	151,328		2.500		10/01/52	128,701
	4,236,899		6.000		11/01/52	4,367,696
	9,393,041		6.000		11/01/52	9,683,014
	3,997,814		2.500		11/01/52	3,400,049
	2,680,069		2.500		11/01/52	2,279,337
	2,747,183		6.000		12/01/52	2,832,850
	2,523,887		6.000		12/01/52	2,611,267
	5,046,558		2.500		02/01/53	4,291,981
	954,458		5.500		04/01/53	968,837
	4,594,586		5.500		04/01/53	4,622,165
	947,050		6.000		04/01/53	979,838
	940,828		6.000		04/01/53	970,166
	954,819		6.000		04/01/53	980,118
	17,613,280		4.500		05/01/53	17,301,643
	6,895,187		6.500		09/01/53	7,101,675
	37,000,000		2.500		TBA-30yr(e)	31,513,596
	27,000,000		3.500		TBA-30yr(e)	24,785,158
	5,000,000		6.500		TBA-30yr(e)	5,122,653
	14,000,000		7.000	(e)	TBA-30yr	14,439,149
	21,000,000		7.000	(e)	TBA-30yr	21,652,161
						494,850,583
TOTAL FEDERAL AGENCIES						$  774,695,603
TOTAL MORTGAGE-BACKED OBLIGATIONS (Cost $875,186,932)						$  857,867,301
Corporate Obligations – 31.1%
Aerospace & Defense(a) – 0.8%
Boeing Co.
$	1,575,000		3.450	%	11/01/28	$    1,483,146
	300,000		3.250		02/01/35	253,299
	163,000		3.375		06/15/46	119,781
	100,000		3.625		03/01/48	73,968
	100,000		3.850		11/01/48	77,580
	2,725,000		5.805		05/01/50	2,826,288
RTX Corp.
	8,450,000		6.100		03/15/34	9,162,504
	550,000		4.050		05/04/47	458,760
						14,455,326
Agriculture(a) – 0.1%
BAT Capital Corp.
	2,000,000		2.259		03/25/28	1,789,120
Automotive – 1.0%
General Motors Co.
	550,000		4.000		04/01/25	540,556

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Automotive – (continued)
General Motors Financial Co., Inc.(a)
$	2,425,000		4.300	%	07/13/25	$    2,385,715
	3,200,000		1.500		06/10/26	2,933,888
	2,825,000		2.350		01/08/31	2,336,275
Hyundai Capital America(a)(b)
	1,975,000		5.700		06/26/30	2,020,267
	8,815,000		6.200		09/21/30	9,280,961
						19,497,662
Banks – 8.8%
Banco Santander SA
	2,400,000		2.746		05/28/25	2,316,720
	400,000		4.250		04/11/27	387,580
	800,000		3.306		06/27/29	738,576
	800,000		2.749		12/03/30	664,320
	4,400,000		6.921		08/08/33	4,693,700
Bank of America Corp.
	150,000		4.183	(a)	11/25/27	145,880
	237,000		6.110		01/29/37	253,246
(3 mo. USD Term SOFR + 1.252%)
	225,000		2.496	(a)(c)	02/13/31	193,374
(3 mo. USD Term SOFR + 1.632%)
	1,550,000		3.593	(a)(c)	07/21/28	1,470,857
(5 yr. CMT + 1.200%)
	94,000		2.482	(a)(c)	09/21/36	74,582
(Secured Overnight Financing Rate + 1.220%)
	1,375,000		2.651	(a)(c)	03/11/32	1,162,013
(Secured Overnight Financing Rate + 1.220%)
	245,000		2.299	(a)(c)	07/21/32	200,123
(Secured Overnight Financing Rate + 1.330%)
	250,000		2.972	(a)(c)	02/04/33	212,440
(Secured Overnight Financing Rate + 1.370%)
	3,150,000		1.922	(a)(c)	10/24/31	2,558,335
(Secured Overnight Financing Rate + 1.530%)
	3,725,000		1.898	(a)(c)	07/23/31	3,042,543
(Secured Overnight Financing Rate + 1.630%)
	10,680,000		5.202	(a)(c)	04/25/29	10,745,148
(Secured Overnight Financing Rate + 1.830%)
	5,000,000		4.571	(a)(c)	04/27/33	4,769,300
(Secured Overnight Financing Rate + 2.150%)
	5,225,000		2.592	(a)(c)	04/29/31	4,499,874
(Secured Overnight Financing Rate + 2.160%)
	1,089,000		5.015	(a)(c)	07/22/33	1,076,640
Bank of New York Mellon Corp.(a)(c) (Secured Overnight Financing Rate + 1.755%)
	315,000		4.596		07/26/30	313,324
Barclays PLC(a)(c)
(1 yr. CMT + 3.500%)
	4,410,000		7.437		11/02/33	4,942,331
(Secured Overnight Financing Rate + 2.714%)
	800,000		2.852		05/07/26	772,240
BNP Paribas SA(b)
	900,000		3.375		01/09/25	881,172
(5 yr. USD Secured Overnight Financing Rate ICE Swap Rate + 4.149%)
	650,000		6.625	(a)(c)	03/25/24	647,589
(Secured Overnight Financing Rate + 1.004%)
	1,600,000		1.323	(a)(c)	01/13/27	1,475,712

GOLDMAN SACHS CORE FIXED INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Banks – (continued)
BNP Paribas SA(b) – (continued)
(Secured Overnight Financing Rate + 2.074%)
$	1,325,000		2.219	%(a)(c)	06/09/26	$    1,265,017
BPCE SA(b)
	1,150,000		4.625		09/12/28	1,125,126
(Secured Overnight Financing Rate + 1.312%)
	1,650,000		2.277	(a)(c)	01/20/32	1,319,984
Citigroup, Inc.
	2,500,000		4.600		03/09/26	2,468,125
	3,175,000		3.400		05/01/26	3,064,700
	2,450,000		4.450		09/29/27	2,393,381
(Secured Overnight Financing Rate + 1.351%)
	3,725,000		3.057	(a)(c)	01/25/33	3,179,064
(Secured Overnight Financing Rate + 1.422%)
	1,375,000		2.976	(a)(c)	11/05/30	1,225,703
(Secured Overnight Financing Rate + 2.086%)
	2,495,000		4.910	(a)(c)	05/24/33	2,443,229
Credit Agricole SA(b)
	1,050,000		3.250		10/04/24	1,031,814
(5 yr. USD Swap + 4.319%)
	600,000		6.875	(a)(c)	09/23/24	596,274
Credit Suisse AG
	1,175,000		2.950		04/09/25	1,138,528
	4,135,000		1.250		08/07/26	3,750,817
Fifth Third Bancorp(a)
	1,235,000		2.375		01/28/25	1,194,863
First-Citizens Bank & Trust Co.(a)(c) (3 mo. USD Term SOFR + 1.715%)
	1,500,000		2.969		09/27/25	1,463,820
HSBC Holdings PLC
	600,000		4.950		03/31/30	594,780
(3 mo. USD Term SOFR + 1.473%)
	1,625,000		3.803	(a)(c)	03/11/25	1,618,516
Huntington Bancshares, Inc.(a)
	1,625,000		4.000		05/15/25	1,592,273
ING Groep NV(a)(b)(c) (1 yr. CMT + 1.100%)
	3,400,000		1.400		07/01/26	3,198,890
JPMorgan Chase & Co.(a)(c)
(3 mo. USD Term SOFR + 1.507%)
	2,275,000		3.960		01/29/27	2,222,379
(3 mo. USD Term SOFR + 1.599%)
	2,150,000		3.782		02/01/28	2,076,277
(3 mo. USD Term SOFR + 1.622%)
	800,000		3.882		07/24/38	709,280
(3 mo. USD Term SOFR + 2.515%)
	675,000		2.956		05/13/31	593,750
(3 mo. USD Term SOFR + 3.125%)
	1,597,000		4.600		02/01/25	1,538,358
(3 mo. USD Term SOFR + 3.790%)
	275,000		4.493		03/24/31	268,216
(Secured Overnight Financing Rate + 1.260%)
	3,475,000		2.963		01/25/33	2,975,642
(Secured Overnight Financing Rate + 1.800%)
	3,692,000		4.586		04/26/33	3,559,900
(Secured Overnight Financing Rate + 2.040%)
	75,000		2.522		04/22/31	64,906
(Secured Overnight Financing Rate + 2.080%)
	2,480,000		4.912		07/25/33	2,452,447

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Banks – (continued)
Kreditanstalt fuer Wiederaufbau(f)
$	13,520,000		3.375	%	08/23/24	$   13,370,739
M&T Bank Corp.(a)(c)
(Secured Overnight Financing Rate + 1.850%)
	2,280,000		5.053		01/27/34	2,160,026
(Secured Overnight Financing Rate + 2.800%)
	1,930,000		7.413		10/30/29	2,078,629
Morgan Stanley
	1,631,000		3.950		04/23/27	1,583,016
(3 mo. USD Term SOFR + 1.890%)
	325,000		4.431	(a)(c)	01/23/30	316,589
(Secured Overnight Financing Rate + 0.720%)
	5,100,000		0.985	(a)(c)	12/10/26	4,693,734
(Secured Overnight Financing Rate + 1.034%)
	2,625,000		1.794	(a)(c)	02/13/32	2,094,514
(Secured Overnight Financing Rate + 1.143%)
	3,900,000		2.699	(a)(c)	01/22/31	3,416,283
(Secured Overnight Financing Rate + 1.152%)
	1,050,000		2.720	(a)(c)	07/22/25	1,033,137
(Secured Overnight Financing Rate + 1.295%)
	3,205,000		5.050	(a)(c)	01/28/27	3,207,724
(Secured Overnight Financing Rate + 1.360%)
	3,175,000		2.484	(a)(c)	09/16/36	2,520,220
(Secured Overnight Financing Rate + 1.590%)
	4,320,000		5.164	(a)(c)	04/20/29	4,340,174
(Secured Overnight Financing Rate + 2.076%)
	2,470,000		4.889	(a)(c)	07/20/33	2,408,917
(Secured Overnight Financing Rate + 3.120%)
	1,100,000		3.622	(a)(c)	04/01/31	1,013,628
NatWest Group PLC(a)(c)
(3 mo. USD LIBOR + 1.762%)
	400,000		4.269		03/22/25	398,576
(5 yr. CMT + 2.100%)
	500,000		3.754		11/01/29	487,675
Royal Bank of Canada
	4,750,000		5.000		02/01/33	4,831,795
Shinhan Bank Co. Ltd.(b)
	540,000		4.500		04/12/28	535,048
State Street Corp.(a)(c) (Secured Overnight Financing Rate + 2.650%)
	100,000		3.152		03/30/31	90,093
Toronto-Dominion Bank
	150,000		4.456		06/08/32	145,758
Truist Bank(a)
	1,250,000		2.250		03/11/30	1,037,000
Truist Financial Corp.(a)(c) (Secured Overnight Financing Rate + 2.050%)
	100,000		6.047		06/08/27	101,794
U.S. Bancorp(a)(c) (Secured Overnight Financing Rate + 2.020%)
	115,000		5.775		06/12/29	118,119
UBS Group AG
	276,000		3.750		03/26/25	270,375
	2,550,000		4.125	(b)	09/24/25	2,493,466
	683,000		4.550		04/17/26	673,773
(3 mo. USD LIBOR + 1.410%)
	1,675,000		3.869	(a)(b)(c)	01/12/29	1,579,944
(5 yr. CMT + 4.758%)
	695,000		9.250	(a)(b)(c)	11/13/33	770,526

GOLDMAN SACHS CORE FIXED INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Banks – (continued)
UBS Group AG – (continued)
(Secured Overnight Financing Rate + 1.560%)
$	1,982,000		2.593	%(a)(b)(c)	09/11/25	$    1,939,169
(Secured Overnight Financing Rate + 1.730%)
	1,545,000		3.091	(a)(b)(c)	05/14/32	1,316,943
(Secured Overnight Financing Rate + 5.020%)
	1,725,000		9.016	(a)(b)(c)	11/15/33	2,121,681
(Secured Overnight Financing Rate Index + 0.980%)
	315,000		1.305	(a)(b)(c)	02/02/27	288,622
Wells Fargo & Co.
	2,700,000		3.000		10/23/26	2,563,893
	4,150,000		4.300		07/22/27	4,063,721
(Secured Overnight Financing Rate + 2.100%)
	288,000		4.897	(a)(c)	07/25/33	280,748
Westpac Banking Corp.(a)(c) (5 yr. CMT + 2.000%)
	700,000		4.110		07/24/34	641,648
						170,351,375
Beverages – 0.8%
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc.(a)
	3,725,000		4.700		02/01/36	3,717,699
	2,179,000		4.900		02/01/46	2,149,823
Anheuser-Busch InBev Worldwide, Inc.
	585,000		8.200		01/15/39	781,443
	1,350,000		5.450	(a)	01/23/39	1,424,358
	400,000		4.950		01/15/42	400,852
	275,000		4.600	(a)	04/15/48	260,901
Constellation Brands, Inc.(a)
	1,375,000		4.400		11/15/25	1,359,352
	50,000		3.600		02/15/28	48,020
	50,000		3.150		08/01/29	46,510
	1,900,000		2.250		08/01/31	1,598,223
JDE Peet’s NV(a)(b)
	1,650,000		1.375		01/15/27	1,482,904
Keurig Dr Pepper, Inc.(a)
	1,968,000		2.250		03/15/31	1,681,440
						14,951,525
Biotechnology(a) – 0.5%
Amgen, Inc.
	3,370,000		5.250		03/02/30	3,465,472
	3,418,000		5.250		03/02/33	3,503,279
	1,890,000		5.650		03/02/53	1,992,400
Royalty Pharma PLC
	1,475,000		1.200		09/02/25	1,377,060
						10,338,211
Building Materials(a) – 0.6%
Carrier Global Corp.
	3,375,000		2.493		02/15/27	3,176,381
	3,570,000		5.900	(b)	03/15/34	3,863,990
	3,545,000		6.200	(b)	03/15/54	4,110,250
						11,150,621
Chemicals(a) – 0.2%
DuPont de Nemours, Inc.
	975,000		4.493		11/15/25	968,887

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Chemicals(a) – (continued)
Huntsman International LLC
$	850,000		4.500	%	05/01/29	$      820,165
International Flavors & Fragrances, Inc.(b)
	2,300,000		1.832		10/15/27	2,015,237
	950,000		3.268		11/15/40	682,945
						4,487,234
Coal(a) – 0.0%
Teck Resources Ltd.
	655,000		3.900		07/15/30	609,117
Commercial Services – 0.4%
Ashtead Capital, Inc.(a)(b)
	650,000		1.500		08/12/26	589,478
DP World Ltd.
	100,000		6.850	(b)	07/02/37	110,128
	200,000		5.625		09/25/48	191,358
Emory University(a)
	4,015,000		2.143		09/01/30	3,453,629
Global Payments, Inc.(a)
	875,000		2.650		02/15/25	848,041
PayPal Holdings, Inc.(a)
	2,375,000		1.650		06/01/25	2,267,484
University of Chicago
	320,000		5.420		10/01/30	332,097
						7,792,215
Computers(a) – 0.3%
Dell International LLC/EMC Corp.
	607,000		5.850		07/15/25	613,252
	2,326,000		6.020		06/15/26	2,380,312
	451,000		5.300		10/01/29	464,647
	200,000		6.200		07/15/30	214,664
	540,000		8.100		07/15/36	663,536
Hewlett Packard Enterprise Co.
	1,782,000		4.900		10/15/25	1,775,763
						6,112,174
Diversified Financial Services – 1.4%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust(a)
	900,000		4.875		01/16/24	899,712
	965,000		6.500		07/15/25	979,359
	5,125,000		2.450		10/29/26	4,747,339
	1,725,000		3.000		10/29/28	1,574,752
	700,000		3.300		01/30/32	609,595
	375,000		3.400		10/29/33	322,185
Air Lease Corp.(a)
	2,250,000		2.300		02/01/25	2,171,002
	1,625,000		3.375		07/01/25	1,573,845
	625,000		2.875		01/15/26	595,825
	2,200,000		3.750		06/01/26	2,125,662
American Express Co.(a)(c) (Secured Overnight Financing Rate + 1.835%)
	4,785,000		5.043		05/01/34	4,778,301
Aviation Capital Group LLC(a)(b)
	450,000		1.950		01/30/26	416,880
Avolon Holdings Funding Ltd.(a)(b)
	975,000		3.950		07/01/24	962,598

GOLDMAN SACHS CORE FIXED INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Diversified Financial Services – (continued)
Avolon Holdings Funding Ltd.(a)(b) – (continued)
$	2,125,000		2.875	%	02/15/25	$    2,052,070
	1,050,000		4.250		04/15/26	1,015,539
Capital One Financial Corp.(a)
	1,110,000		3.300		10/30/24	1,091,097
Charles Schwab Corp.(a)(c) (Secured Overnight Financing Rate + 2.500%)
	95,000		5.853		05/19/34	97,929
Nomura Holdings, Inc.
	950,000		2.608		07/14/31	788,263
REC Ltd.(b)
	200,000		5.625		04/11/28	203,066
						27,005,019
Electrical – 0.9%
Alliant Energy Finance LLC(a)(b)
	225,000		4.250		06/15/28	219,839
Ameren Corp.(a)
	400,000		3.500		01/15/31	364,720
American Electric Power Co., Inc.(a)
	850,000		2.300		03/01/30	726,631
Arizona Public Service Co.(a)
	425,000		2.950		09/15/27	401,481
Avangrid, Inc.(a)
	50,000		3.200		04/15/25	48,618
Berkshire Hathaway Energy Co.(a)
	1,275,000		3.700		07/15/30	1,207,731
Dominion Energy, Inc.(d)
	575,000		3.071		08/15/24	565,144
Entergy Corp.(a)
	1,025,000		2.950		09/01/26	974,006
Exelon Corp.(a)
	1,000,000		4.050		04/15/30	955,560
NextEra Energy Capital Holdings, Inc.(a)
	1,180,000		1.900		06/15/28	1,047,238
NRG Energy, Inc.(a)(b)
	1,625,000		3.750		06/15/24	1,604,541
Ohio Power Co.(a)
	675,000		2.600		04/01/30	591,597
Pacific Gas & Electric Co.(a)
	500,000		3.300		08/01/40	366,480
Southern Co.(a)
	1,730,000		3.250		07/01/26	1,668,741
Vistra Operations Co. LLC(a)(b)
	3,350,000		3.550		07/15/24	3,299,348
Xcel Energy, Inc.(a)
	2,925,000		3.350		12/01/26	2,818,910
						16,860,585
Engineering & Construction(a) – 0.1%
Mexico City Airport Trust
	400,000		4.250		10/31/26	385,212
	440,000		3.875	(b)	04/30/28	412,126
	200,000		5.500	(b)	10/31/46	171,514
	420,000		5.500		07/31/47	360,856
	340,000		5.500	(b)	07/31/47	292,121
						1,621,829

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Entertainment(a) – 0.6%
Warnermedia Holdings, Inc.
$	4,100,000		6.412	%	03/15/26	$    4,103,157
	5,050,000		4.054		03/15/29	4,788,511
	3,400,000		4.279		03/15/32	3,110,558
						12,002,226
Environmental – 0.4%
Nature Conservancy
	60,000		0.944		07/01/26	54,164
	75,000		1.304		07/01/28	63,849
Veralto Corp.(a)(b)
	6,895,000		5.450		09/18/33	7,153,562
						7,271,575
Food & Drug Retailing(a) – 0.8%
J M Smucker Co.
	2,498,000		5.900		11/15/28	2,630,244
	6,235,000		6.200		11/15/33	6,801,200
	3,535,000		6.500		11/15/53	4,083,137
Kraft Heinz Foods Co.
	2,056,000		3.750		04/01/30	1,963,850
Sysco Corp.
	225,000		6.600		04/01/40	253,555
	75,000		6.600		04/01/50	87,846
						15,819,832
Gas(a) – 0.0%
East Ohio Gas Co.(b)
	525,000		1.300		06/15/25	496,487
NiSource, Inc.
	325,000		3.600		05/01/30	303,222
						799,709
Healthcare Providers & Services(a) – 1.3%
Adventist Health System
	540,000		2.952		03/01/29	487,548
Banner Health
	3,235,000		2.338		01/01/30	2,792,974
Baylor Scott & White Holdings
	1,140,000		1.777		11/15/30	948,788
Centene Corp.
	925,000		4.250		12/15/27	893,420
	2,100,000		2.625		08/01/31	1,751,148
CommonSpirit Health
	2,385,000		3.910		10/01/50	1,877,394
	2,655,000		6.461		11/01/52	3,109,071
DH Europe Finance II SARL
	50,000		3.250		11/15/39	41,502
HCA, Inc.
	1,590,000		3.500		09/01/30	1,442,225
	3,960,000		5.900		06/01/53	4,066,247
Rush Obligated Group
	1,320,000		3.922		11/15/29	1,254,081
Stanford Health Care
	975,000		3.310		08/15/30	900,184
STERIS Irish FinCo UnLtd Co.
	501,000		2.700		03/15/31	430,785

GOLDMAN SACHS CORE FIXED INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Healthcare Providers & Services(a) – (continued)
Stryker Corp.
$	475,000		3.375	%	11/01/25	$      462,389
	75,000		1.950		06/15/30	64,141
Sutter Health
	605,000		2.294		08/15/30	518,551
UnitedHealth Group, Inc.
	3,750,000		5.350		02/15/33	3,966,337
						25,006,785
Home Builders(a) – 0.1%
Lennar Corp.
	1,235,000		4.750		11/29/27	1,235,111
Insurance – 0.1%
Arch Capital Finance LLC(a)
	1,200,000		4.011		12/15/26	1,165,620
Arch Capital Group Ltd.
	300,000		7.350		05/01/34	343,503
Great-West Lifeco Finance 2018 LP(a)(b)
	422,000		4.047		05/17/28	410,674
Willis North America, Inc.(a)
	700,000		2.950		09/15/29	627,641
						2,547,438
Internet – 0.6%
Amazon.com, Inc.(a)
	500,000		4.800		12/05/34	517,465
Expedia Group, Inc.(a)
	1,212,000		4.625		08/01/27	1,208,703
	825,000		3.800		02/15/28	794,409
	875,000		3.250		02/15/30	802,427
	331,000		2.950		03/15/31	292,296
Netflix, Inc.
	3,010,000		5.875		11/15/28	3,179,644
	3,575,000		4.875	(a)(b)	06/15/30	3,615,219
Prosus NV(a)
	200,000		3.257	(b)	01/19/27	183,813
	420,000		3.680	(b)	01/21/30	365,137
	690,000		3.680		01/21/30	599,869
EUR	100,000		2.031	(b)	08/03/32	84,220
$	230,000		4.027	(b)	08/03/50	149,931
	210,000		3.832	(b)	02/08/51	132,038
						11,925,171
Investment Companies(a)(b) – 0.0%
JAB Holdings BV
	500,000		2.200		11/23/30	401,540
Iron/Steel – 0.1%
POSCO(b)
	260,000		5.750		01/17/28	266,113
Steel Dynamics, Inc.(a)
	490,000		2.400		06/15/25	469,356
	1,075,000		1.650		10/15/27	957,782
						1,693,251

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Lodging(a) – 0.3%
Hyatt Hotels Corp.
$	2,000,000		1.800	%	10/01/24	$    1,941,040
Marriott International, Inc.
	2,100,000		5.000		10/15/27	2,126,271
	2,625,000		2.850		04/15/31	2,276,768
						6,344,079
Machinery - Construction & Mining(a)(b) – 0.1%
Weir Group PLC
	2,375,000		2.200		05/13/26	2,205,615
Machinery-Diversified(a) – 0.1%
Ingersoll Rand, Inc.
	1,270,000		5.700		08/14/33	1,343,711
Media(a) – 1.4%
Charter Communications Operating LLC/Charter Communications Operating Capital
	8,750,000		4.908		07/23/25	8,668,362
	6,675,000		3.750		02/15/28	6,306,607
	1,595,000		6.384		10/23/35	1,619,419
Comcast Corp.
	1,300,000		3.950		10/15/25	1,283,243
	1,173,000		3.300		02/01/27	1,132,367
	5,725,000		4.800		05/15/33	5,797,078
	100,000		3.750		04/01/40	86,038
	275,000		4.700		10/15/48	262,749
Fox Corp.
	700,000		4.030		01/25/24	699,076
	75,000		5.476		01/25/39	73,142
Time Warner Cable LLC
	275,000		5.875		11/15/40	250,154
						26,178,235
Mining(b) – 0.3%
Glencore Funding LLC
	1,300,000		4.125	(a)	03/12/24	1,294,228
	1,181,000		4.625		04/29/24	1,175,626
	1,850,000		1.625	(a)	04/27/26	1,713,452
	2,175,000		2.625	(a)	09/23/31	1,847,532
Newmont Corp./Newcrest Finance Pty. Ltd.(a)
	525,000		3.250		05/13/30	472,804
						6,503,642
Miscellaneous Manufacturing – 0.1%
GE Capital International Funding Co. Unlimited Co.
	405,000		4.418		11/15/35	393,231
General Electric Co.
	700,000		5.875		01/14/38	770,574
						1,163,805
Multi-National(a)(b) – 0.1%
African Export-Import Bank
	740,000		2.634		05/17/26	683,405
	830,000		3.798		05/17/31	703,574
						1,386,979

GOLDMAN SACHS CORE FIXED INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Oil Field Services – 0.3%
Aker BP ASA(a)(b)
$	639,000		2.000	%	07/15/26	$      589,005
Devon Energy Corp.(a)
	180,000		5.600		07/15/41	174,098
Marathon Petroleum Corp.(a)
	600,000		3.625		09/15/24	590,766
	375,000		3.800		04/01/28	358,504
Occidental Petroleum Corp.
	1,034,000		7.875		09/15/31	1,174,790
Phillips 66(a)
	375,000		3.850		04/09/25	369,026
	725,000		1.300		02/15/26	673,097
QatarEnergy(a)(b)
	410,000		3.300		07/12/51	298,726
Reliance Industries Ltd.(b)
	480,000		2.875		01/12/32	410,918
	250,000		3.750		01/12/62	177,595
						4,816,525
Packaging(a) – 0.1%
Berry Global, Inc.
	1,475,000		1.570		01/15/26	1,371,632
Pharmaceuticals(a) – 1.3%
AbbVie, Inc.
	1,709,000		4.500		05/14/35	1,671,470
	638,000		4.300		05/14/36	611,734
	3,250,000		4.050		11/21/39	2,939,235
Bristol-Myers Squibb Co.
	1,440,000		6.250		11/15/53	1,649,650
Cigna Group
	5,100,000		4.125		11/15/25	5,036,556
	1,858,000		2.400		03/15/30	1,627,849
	1,025,000		4.800		08/15/38	992,907
CVS Health Corp.
	7,749,000		4.780		03/25/38	7,325,207
Perrigo Finance Unlimited Co.
	2,975,000		4.375		03/15/26	2,881,853
Zoetis, Inc.
	100,000		4.450		08/20/48	91,111
						24,827,572
Pipelines – 1.5%
Abu Dhabi Crude Oil Pipeline LLC(b)
	1,190,000		4.600		11/02/47	1,088,478
Cheniere Energy Partners LP(a)(b)
	1,185,000		5.950		06/30/33	1,216,402
Columbia Pipelines Operating Co. LLC(a)(b)
	3,620,000		6.036		11/15/33	3,794,991
Enbridge, Inc.(a)
	1,547,000		5.700		03/08/33	1,608,865
	2,300,000		2.500		08/01/33	1,882,780
Energy Transfer LP(a)
	50,000		4.950		06/15/28	49,883
	1,225,000		5.250		04/15/29	1,234,653
	375,000		5.300		04/15/47	345,315
Enterprise Products Operating LLC(a)
	85,000		3.750		02/15/25	83,881

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Pipelines – (continued)
Galaxy Pipeline Assets Bidco Ltd.
$	200,000		2.625	%(b)	03/31/36	$      164,750
	2,836,685		2.940		09/30/40	2,333,173
	320,000		3.250	(b)	09/30/40	250,000
Kinder Morgan, Inc.(a)
	4,835,000		5.200		06/01/33	4,808,939
MPLX LP(a)
	1,300,000		2.650		08/15/30	1,122,992
	275,000		4.500		04/15/38	244,857
	645,000		5.500		02/15/49	624,818
Plains All American Pipeline LP/PAA Finance Corp.(a)
	875,000		3.800		09/15/30	805,962
Sabine Pass Liquefaction LLC(a)
	1,650,000		5.625		03/01/25	1,653,184
	275,000		5.000		03/15/27	276,169
Targa Resources Corp.(a)
	1,010,000		4.200		02/01/33	929,968
Western Midstream Operating LP(a)
	1,125,000		3.100		02/01/25	1,095,874
	475,000		3.950		06/01/25	463,975
	225,000		5.450		04/01/44	203,927
Williams Cos., Inc.(a)
	850,000		3.900		01/15/25	836,519
	800,000		4.000		09/15/25	785,368
	1,800,000		5.650		03/15/33	1,881,900
						29,787,623
Real Estate Investment Trust(a) – 1.1%
American Homes 4 Rent LP
	723,000		4.900		02/15/29	716,305
American Tower Corp.
	1,750,000		2.400		03/15/25	1,692,722
CubeSmart LP
	600,000		4.000		11/15/25	585,534
	1,095,000		2.500		02/15/32	909,770
Host Hotels & Resorts LP
	952,000		2.900		12/15/31	799,966
Invitation Homes Operating Partnership LP
	1,300,000		2.300		11/15/28	1,157,507
	3,595,000		2.000		08/15/31	2,858,349
NNN REIT, Inc.
	790,000		3.900		06/15/24	783,222
	1,150,000		4.000		11/15/25	1,126,425
Prologis LP
	3,037,000		1.750		07/01/30	2,548,590
Realty Income Corp.
	400,000		3.950		08/15/27	389,176
Retail Opportunity Investments Partnership LP
	3,075,000		6.750		10/15/28	3,233,455
Spirit Realty LP
	1,200,000		3.400		01/15/30	1,092,564
UDR, Inc.
	475,000		2.100		08/01/32	373,350
Ventas Realty LP
	975,000		3.500		02/01/25	952,789
WP Carey, Inc.
	505,000		4.600		04/01/24	502,621
	445,000		4.000		02/01/25	438,396

GOLDMAN SACHS CORE FIXED INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Real Estate Investment Trust(a) – (continued)
WP Carey, Inc. – (continued)
$	1,000,000		3.850	%	07/15/29	$      937,630
	725,000		2.400		02/01/31	612,871
						21,711,242
Retailing(a) – 0.4%
AutoNation, Inc.
	1,404,000		4.500		10/01/25	1,375,499
	500,000		1.950		08/01/28	430,200
	825,000		4.750		06/01/30	796,199
CK Hutchison International 20 Ltd.(b)
	200,000		2.500		05/08/30	174,368
Dollar Tree, Inc.
	975,000		4.000		05/15/25	957,703
Home Depot, Inc.
	625,000		3.250		04/15/32	577,719
Lowe’s Cos., Inc.
	2,500,000		1.700		10/15/30	2,078,650
McDonald’s Corp.
	1,313,000		4.600		09/09/32	1,330,135
	650,000		4.200		04/01/50	577,570
						8,298,043
Savings & Loans(a)(b)(c) – 0.0%
Nationwide Building Society (3 mo. USD LIBOR + 1.855%)
	975,000		3.960		07/18/30	909,997
Semiconductors(a) – 1.0%
Broadcom, Inc.(b)
	1,284,000		4.150		04/15/32	1,211,801
	2,770,000		2.600		02/15/33	2,280,569
	1,156,000		3.419		04/15/33	1,015,500
	975,000		3.469		04/15/34	848,650
	4,175,000		3.137		11/15/35	3,428,886
	161,000		3.187		11/15/36	130,660
	1,725,000		3.500		02/15/41	1,369,029
Intel Corp.
	2,750,000		5.200		02/10/33	2,873,282
NXP BV/NXP Funding LLC/NXP USA, Inc.
	825,000		3.400		05/01/30	758,026
	3,125,000		2.500		05/11/31	2,657,906
	2,250,000		2.650		02/15/32	1,896,547
						18,470,856
Software(a) – 1.3%
Black Knight InfoServ LLC(b)
	1,070,000		3.625		09/01/28	1,019,047
Fiserv, Inc.
	75,000		4.200		10/01/28	73,420
Oracle Corp.
	2,000,000		4.500		05/06/28	2,000,560
	1,881,000		2.950		04/01/30	1,697,697
	2,550,000		4.650		05/06/30	2,537,403
	5,625,000		2.875		03/25/31	4,981,387
	2,211,000		4.900		02/06/33	2,200,542
	350,000		3.600		04/01/40	279,902
	3,965,000		5.550		02/06/53	3,971,304
ServiceNow, Inc.
	3,400,000		1.400		09/01/30	2,796,330

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Software(a) – (continued)
Take-Two Interactive Software, Inc.
$	1,495,000		3.700	%	04/14/27	$    1,448,147
VMware LLC
	700,000		1.800		08/15/28	614,334
Workday, Inc.
	50,000		3.700		04/01/29	48,019
	675,000		3.800		04/01/32	628,985
						24,297,077
Telecommunication Services – 1.7%
AT&T, Inc.(a)
	2,375,000		2.750		06/01/31	2,080,785
	1,165,000		4.900		08/15/37	1,127,813
	2,355,000		4.850		03/01/39	2,252,228
	1,325,000		3.500		06/01/41	1,053,070
	450,000		5.150		11/15/46	433,570
Telefonica Emisiones SA
	425,000		4.665		03/06/38	389,028
T-Mobile USA, Inc.(a)
	1,320,000		3.500		04/15/25	1,292,689
	1,350,000		1.500		02/15/26	1,257,525
	5,004,000		3.750		04/15/27	4,855,882
	700,000		4.750		02/01/28	697,277
	125,000		2.050		02/15/28	112,818
	2,333,000		3.875		04/15/30	2,214,927
	2,205,000		2.875		02/15/31	1,941,833
	2,150,000		3.500		04/15/31	1,966,605
	3,075,000		5.200		01/15/33	3,150,491
Verizon Communications, Inc.
	3,758,000		4.329		09/21/28	3,719,443
	2,251,000		4.016	(a)	12/03/29	2,177,888
	100,000		1.750	(a)	01/20/31	82,300
	1,500,000		2.550	(a)	03/21/31	1,293,630
						32,099,802
Transportation(a) – 0.1%
CSX Corp.
	2,645,000		4.100		11/15/32	2,571,019
TOTAL CORPORATE OBLIGATIONS (Cost $622,927,499)						$  600,012,105
Asset-Backed Securities – 8.8%
Automotive(a) – 1.1%
Ford Credit Auto Owner Trust Series 2023-C, Class A2A
$	5,225,000		5.680	%	09/15/26	$    5,248,718
GMF Floorplan Owner Revolving Trust Series 2023-1, Class A1(b)
	4,700,000		5.340		06/15/28	4,749,811
Hyundai Auto Receivables Trust Series 2023-A, Class A2A
	3,232,921		5.190		12/15/25	3,227,614
Nissan Auto Receivables Owner Trust Series 2023-A, Class A2A
	4,045,346		5.340		02/17/26	4,039,824
World Omni Auto Receivables Trust Series 2023-B, Class A2A
	3,604,207		5.250		11/16/26	3,597,467
						20,863,434

GOLDMAN SACHS CORE FIXED INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Asset-Backed Securities – (continued)
Collateralized Loan Obligations – 6.6%
37 Capital CLO 1 Ltd. Series 2021-1A, Class A(a)(b)(c) (3 mo. USD Term SOFR + 1.462%)
$	4,000,000		6.856	%	10/15/34	$    3,980,532
AB BSL CLO 2 Ltd. Series 2021-2A, Class A(a)(b)(c) (3 mo. USD Term SOFR + 1.362%)
	5,600,000		6.756		04/15/34	5,599,743
Allegro CLO VIII Ltd. Series 2018-2A, Class A(a)(b)(c) (3 mo. USD Term SOFR + 1.362%)
	3,806,801		6.756		07/15/31	3,806,683
AMMC CLO XI Ltd. Series 2012-11A, Class A1R2(a)(b)(c) (3 mo. USD Term SOFR + 1.272%)
	3,671,041		6.662		04/30/31	3,670,872
Apidos CLO XXIII Ltd. Series 2015-23A, Class AR(a)(b)(c) (3 mo. USD Term SOFR + 1.482%)
	4,000,000		6.876		04/15/33	3,999,852
Atlas Senior Loan Fund XIII Series 2019-13A, Class CR (a)(b)(c) (3 mo. USD Term SOFR + 2.912%)
	2,100,000		8.324		04/22/31	2,067,356
Cedar Funding IX CLO Ltd. Series 2018-9A, Class A1 (a)(b)(c) (3 mo. USD Term SOFR + 1.242%)
	3,442,701		6.657		04/20/31	3,442,019
CIFC Funding Ltd. Series 2018-2A, Class A1(a)(b)(c)
(3 mo. USD Term SOFR + 1.302%)
	3,598,936		6.717		04/20/31	3,598,734
	4,750,000		0.000		01/20/37	4,750,000
	3,775,000		0.000		01/20/37	3,775,000
Crown City CLO I Series 2020-1A, Class A2R(a)(b)(c) (3 mo. USD Term SOFR + 2.012%)
	4,600,000		7.427		07/20/34	4,560,771
Diameter Capital CLO 1 Ltd. Series 2023-A1A, Class A1A(a)(b)(c) (3 mo. USD Term SOFR + 1.502%)
	5,250,000		6.896		07/15/36	5,240,729
Galaxy XXVIII CLO Ltd. Series 2018-28A, Class A2 (a)(b)(c) (3 mo. USD Term SOFR + 1.562%)
	5,838,810		6.956		07/15/31	5,839,143
GoldenTree Loan Opportunities IX Ltd. Series 2014-9A, Class AR2(a)(b)(c) (3 mo. USD Term SOFR + 1.372%)
	1,766,942		6.762		10/29/29	1,767,059
HalseyPoint CLO 3 Ltd. Series 2020-3A, Class A1A(a)(b)(c) (3 mo. USD Term SOFR + 1.712%)
	6,250,000		7.102		11/30/32	6,252,450
Halseypoint CLO 7 Ltd. Series 2023-7A, Class A(a)(b)(c) (3 mo. USD Term SOFR + 2.250%)
	5,200,000		7.509		07/20/36	5,238,475
Hayfin U.S. XII Ltd. Series 2018-8A, Class A(a)(b)(c) (3 mo. USD Term SOFR + 1.382%)
	3,660,425		6.797		04/20/31	3,660,260
Helios Issuer LLC Series 2023-GRID1, Class 1A(a)(b)
	418,132		5.750		12/20/50	426,859
Mountain View CLO LLC Series 2016-1A, Class AR (a)(b)(c) (3 mo. USD Term SOFR + 1.622%)
	3,500,000		7.016		04/14/33	3,479,182
OCP CLO Ltd. Series 2019-16A, Class AR(a)(b)(c) (3 mo. USD Term SOFR + 1.262%)
	3,500,000		6.668		04/10/33	3,493,049
Octagon Investment Partners 40 Ltd. Series 2019-1A, Class A1R(a)(b)(c) (3 mo. USD Term SOFR + 1.432%)
	4,700,000		6.847		01/20/35	4,699,845

Principal Amount		Interest Rate			Maturity Date	Value
Asset-Backed Securities – (continued)
Collateralized Loan Obligations – (continued)
OHA Credit Funding 3 Ltd. Series 2019-3A, Class AR (a)(b)(c) (3 mo. USD Term SOFR + 1.402%)
$	2,150,000		6.817	%	07/02/35	$    2,149,243
OHA Credit Funding 5 Ltd. Series 2020-5A, Class A2A (a)(b)(c) (3 mo. USD Term SOFR + 1.712%)
	2,000,000		7.107		04/18/33	1,990,024
Palmer Square CLO Ltd. Series 2019-1A, Class A1R (a)(b)(c) (3 mo. USD Term SOFR + 1.412%)
	6,000,000		6.789		11/14/34	5,999,724
Post CLO Ltd. Series 2018-1A, Class A(a)(b)(c)
	1,329,898		6.706		04/16/31	1,329,866
Recette CLO Ltd. Series 2015-1A, Class ARR(a)(b)(c) (3 mo. USD Term SOFR + 1.342%)
	7,000,000		6.757		04/20/34	6,978,580
RR 26 Ltd. Series 2023-26A, Class A1(a)(b)(c) (3 mo. USD Term SOFR + 1.780%)
	2,800,000		7.174		04/15/38	2,802,304
Southwick Park CLO LLC Series 2019-4A, Class A1R (a)(b)(c) (3 mo. USD Term SOFR + 1.322%)
	4,500,000		6.737		07/20/32	4,486,869
TCW CLO Ltd. Series 2023-1A, Class A1N(a)(b)(c) (3 mo. USD Term SOFR + 2.070%)
	4,500,000		7.460		04/28/36	4,529,727
Venture 32 CLO Ltd. Series 2018-32A, Class A1(a)(b)(c) (3 mo. USD Term SOFR + 1.362%)
	4,273,351		6.757		07/18/31	4,237,292
Venture 39 CLO Ltd. Series 2020-39A, Class A1(a)(b)(c) (3 mo. USD Term SOFR + 1.542%)
	6,900,000		6.936		04/15/33	6,850,044
Zais CLO 15 Ltd. Series 2020-15A, Class A1R(a)(b)(c) (3 mo. USD Term SOFR + 1.612%)
	3,250,000		7.002		07/28/32	3,220,233
						127,922,519
Credit Card(a) – 0.9%
Barclays Dryrock Issuance Trust Series 2023-1, Class A
	8,400,000		4.720		02/15/29	8,388,533
Capital One Multi-Asset Execution Trust Series 2022-A3, Class A
	4,200,000		4.950		10/15/27	4,210,213
Discover Card Execution Note Trust Series 2023-A1, Class A
	4,300,000		4.310		03/15/28	4,265,802
						16,864,548
Ohio – 0.1%
Louisiana Local Government Environmental Facilities & Community Development Authority Series 2022-ELL, Class A3
	2,270,000		4.275		02/01/36	2,204,671
Student Loan(a)(c) – 0.1%
AccessLex Institute Series 2004-1, Class A2 (90 day USD SOFR Average + 0.472%)
	473,010		5.824		09/26/33	466,670
Educational Funding of the South, Inc. Series 2011-1, Class A2 (90 day USD SOFR Average + 0.911%)
	114,862		6.246		04/25/35	114,929

GOLDMAN SACHS CORE FIXED INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Asset-Backed Securities – (continued)
Student Loan(a)(c) – (continued)
PHEAA Student Loan Trust Series 2016-1A, Class A(b) (30 day USD SOFR Average + 1.264%)
$	1,267,337		6.602	%	09/25/65	$    1,269,267
						1,850,866
TOTAL ASSET-BACKED SECURITIES (Cost $169,544,516)						$  169,706,038
Agency Debentures – 1.7%
Sovereign – 1.7%
Federal Farm Credit Banks Funding Corp.
$	7,050,000		2.850	%	03/28/34	$    6,117,497
	11,930,000		2.900		04/12/32	10,753,463
	3,840,000		3.300		05/19/32	3,541,517
	2,500,000		3.500		09/01/32	2,348,975
Federal Home Loan Banks
	2,400,000		5.000		09/28/29	2,509,968
Federal National Mortgage Association
	3,700,000		1.875		09/24/26	3,493,133
	4,200,000		6.250		05/15/29	4,659,396
TOTAL AGENCY DEBENTURES (Cost $36,216,661)						$   33,423,949
Sovereign Debt Obligations – 1.0%
Euro – 0.1%
Mexico Government International Bonds(a)
EUR	839,000		1.450	%	10/25/33	$      720,057
Romania Government International Bonds(b)
	100,000		2.000		01/28/32	85,031
	360,000		3.375		01/28/50	269,866
						1,074,954
Sovereign – 0.1%
Export-Import Bank of Korea
$	900,000		5.000		01/11/28	916,218
Mexico Government International Bonds(a)
	1,960,000		3.771		05/24/61	1,324,838
	600,000		3.750		04/19/71	399,000
						2,640,056
United States Dollar – 0.8%
Export-Import Bank of Korea
	390,000		5.125		01/11/33	405,530
Hungary Government International Bonds
	1,700,000		6.125		05/22/28	1,768,272
Israel Government AID Bonds(g)
	2,400,000		5.500		04/26/24	2,401,008
	4,700,000		5.500		09/18/33	5,171,175
Israel Government International Bonds(h)
	200,000		4.500		04/03/20	156,056
Mexico Government International Bonds
	200,000		3.750		01/11/28	192,687
	240,000		3.250	(a)	04/16/30	216,900

Principal Amount		Interest Rate			Maturity Date	Value
Sovereign Debt Obligations – (continued)
United States Dollar – (continued)
Mexico Government International Bonds – (continued)
$	200,000		4.750	%(a)	04/27/32	$      192,250
	1,746,000		3.500	(a)	02/12/34	1,477,007
Panama Government International Bonds(a)
	360,000		6.875		01/31/36	358,875
	800,000		6.853		03/28/54	747,000
	210,000		4.500		01/19/63	137,222
Peru Government International Bonds(a)
	10,000		2.780		12/01/60	6,222
	100,000		3.230	(i)	07/28/21	62,156
Romania Government International Bonds
	770,000		3.000	(b)	02/27/27	716,100
	690,000		5.125		06/15/48	590,226
	580,000		4.000		02/14/51	417,855
						15,016,541
TOTAL SOVEREIGN DEBT OBLIGATIONS (Cost $20,623,158)						$   18,731,551
Municipal Debt Obligations – 0.9%
Arizona – 0.0%
City of Tucson AZ Taxable Series A(a)
$	100,000		1.457	%	07/01/28	$       87,432
City of Yuma AZ Pledged Revenue Taxable Series 2021
	100,000		1.749		07/15/28	87,239
						174,671
California – 0.4%
California State GO Bonds Build America Taxable Series 2009
	2,600,000		7.550	(a)	04/01/39	3,236,138
California Statewide Communities Development Authority Revenue Bonds Taxable Refunding Series 2021
	620,000		1.807		02/01/30	521,526
Los Angeles Municipal Improvement Corp.RB Taxable Refunding Series A(a)
	2,295,000		2.074		11/01/30	1,963,298
Los Angeles Municipal Improvement Corp.RB Taxable Refunding Series C(a)
	245,000		1.831		11/01/29	211,928
Port Of Oakland RB Taxable Refunding Series R
	770,000		1.949	(a)	05/01/28	671,532
San Francisco Municipal Transportation Agency Revenue Refunding Series A
	555,000		1.302		03/01/28	487,297
San Jose Financing Authority Lease RB Taxable Refunding Series A
	540,000		1.812	(a)	06/01/29	465,347
						7,557,066
Florida(a) – 0.0%
Florida State Board of Administration Finance Corp. RB Taxable Series A
	595,000		2.154		07/01/30	507,534
Illinois – 0.2%
Illinois State GO Bonds Build America Series 2010
	1,514,835		7.350		07/01/35	1,639,636

GOLDMAN SACHS CORE FIXED INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Municipal Debt Obligations – (continued)
Illinois – (continued)
Illinois State GO Bonds Taxable-Pension Series 2003
$	1,170,000		5.100	%	06/01/33	$    1,157,644
						2,797,280
Louisiana(a) – 0.0%
City of New Orleans LA Sewerage Service Revenue Taxable Revenue Series 2021
	170,000		0.958		06/01/26	151,298
City of New Orleans LA Water System Revenue Taxable Refunding Series 2021
	150,000		1.008		12/01/26	130,832
Louisiana State Transportation Authority Revenue Taxable Refunding Series A
	160,000		1.138		02/15/26	142,747
State of Louisiana Unclaimed Property Revenue Taxable Refunding Series 2021
	205,000		1.059		09/01/26	183,449
						608,326
Maryland – 0.0%
State of Maryland Department of Transportation Revenue Taxable Refunding Series A
	65,000		1.303		08/01/28	56,270
New York – 0.2%
Metropolitan Transportation Authority Revenue Series 2010
	395,000		5.989		11/15/30	420,196
New York State Metropolitan Transportation Authority RB Refunding Subseries 2002 G-1B
	2,670,000		5.175		11/15/49	2,603,151
						3,023,347
Ohio – 0.1%
American Municipal Power-Ohio, Inc. RB Build America Taxable Series 2010
	1,585,000		6.270		02/15/50	1,727,877
Pennsylvania – 0.0%
Commonwealth of Pennsylvania Department of Community & Economic Development Revenue Taxable Refunding Series C
	125,000		2.758		06/01/30	111,367
TOTAL MUNICIPAL DEBT OBLIGATIONS (Cost $16,971,772)						$   16,563,738
U.S. Treasury Obligations – 20.7%
U.S. Treasury Bonds
$	6,530,000		4.250	%	05/15/39	$    6,729,981
	75,750,000		4.250		11/15/40	77,253,164
	3,080,000		4.750		11/15/43	3,309,556
	210,000		3.375		05/15/44	185,391
	15,240,000		2.875		11/15/46	12,222,956
	65,870,000		3.000		02/15/47	53,941,355
	9,870,000		4.000		11/15/52	9,760,505
U.S. Treasury Inflation-Indexed Bonds
	5,506,519		1.500		02/15/53	5,012,032

Principal Amount		Interest Rate			Maturity Date	Value
U.S. Treasury Obligations – (continued)
U.S. Treasury Notes
$	22,680,000		0.750	%	05/31/26	$   20,938,247
	66,220,000		4.375		08/15/26	66,680,436
	24,880,000		0.750		08/31/26	22,815,738
	22,370,000		1.375		08/31/26	20,858,277
	25,100,000		2.625		05/31/27	24,031,289
	25,680,000		0.500		06/30/27	22,809,056
	16,320,000		3.500		04/30/28	16,063,725
	1,000,000		4.625		09/30/28	1,032,344
	16,470,000		3.750		12/31/28	16,398,507
	2,590,000		3.875		09/30/29	2,586,155
	16,390,000		3.875		12/31/30	16,261,586
TOTAL U.S. TREASURY OBLIGATIONS (Cost $437,838,405)						$  398,890,300
Shares		Dividend Rate				Value
Investment Company(j) – 1.2%
Goldman Sachs Financial Square Government Fund — Institutional Shares
	23,705,129		5.248%			$   23,705,129
(Cost $23,705,129)
TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS – 109.9% (Cost $2,203,014,072)						$2,118,900,111
Principal Amount		Interest Rate			Maturity Date	Value
Short-term Investments – 0.8%
Certificates of Deposit – 0.5%
Banco Santander SA(c) (Secured Overnight Financing Rate + 0.490%)
$	5,000,000		5.890	%	02/09/24	$    5,002,428
Bayerische Landesbank
	4,000,000		5.300		01/25/24	3,998,898
						9,001,326
Commercial Paper(b)(k) – 0.3%
Pure Grove Funding
	6,790,000		0.000		01/18/24	6,769,793
TOTAL SHORT-TERM INVESTMENTS (Cost $15,773,551)						$   15,771,119
TOTAL INVESTMENTS – 110.7% (Cost $2,218,787,623)						$2,134,671,230
LIABILITIES IN EXCESS OF  OTHER ASSETS – (10.7)%						(207,014,638)
NET ASSETS – 100.0%						$1,927,656,592

GOLDMAN SACHS CORE FIXED INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.
(a)	Security with "Call" features with resetting interest rates. Maturity dates disclosed are the final maturity dates.
(b)	Exempt from registration under Rule 144A of the Securities Act of 1933.
(c)	Variable rate security. Except for floating rate notes (for which final maturity is disclosed), maturity date disclosed is the next interest reset date. Interest rate disclosed is that which is in effect on December 31, 2023.
(d)	Coupon changes periodically based upon a predetermined schedule. Interest rate disclosed is that which is in effect on December 31, 2023.
(e)	TBA (To Be Announced) Securities are purchased on a forward commitment basis with an approximate principal amount and no defined maturity date. The actual principal and maturity date will be determined upon settlement when the specific mortgage pools are assigned. Total market value of TBA securities (excluding forward sales contracts, if any) amounts to $222,154,474 which represents approximately 11.6% of net assets as of December 31, 2023.

(f)	Guaranteed by a foreign government until maturity. Total market value of these securities amounts to $13,370,739, which represents approximately 1% of the Fund’s net assets as of December 31, 2023.
(g)	Guaranteed by the United States Government until maturity. Total market value for these securities amounts to $7,572,183, which represents approximately 0% of the Fund’s net assets as of December 31, 2023
(h)	Actual maturity date is April 03, 2120.
(i)	Actual maturity date is July 28, 2121.
(j)	Represents an affiliated Issuer.
(k)	Issued with a zero coupon. Income is recognized through the accretion of discount.

GOLDMAN SACHS CORE FIXED INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS — At December 31, 2023, the Fund had the following forward foreign currency exchange contracts:

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS WITH UNREALIZED GAIN

Counterparty	Currency Purchased		Currency Sold			Settlement Date		Unrealized Gain
BNP Paribas SA	AUD	1,785,843		USD	1,202,219		03/20/24	$	17,690
	GBP	1,334,530		USD	1,691,100		03/20/24		10,627
	JPY	407,914,251		USD	2,835,246		03/21/24		94,952
	SEK	15,028,015		USD	1,468,097		03/20/24		26,617
BofA Securities LLC	CAD	2,572,223		USD	1,914,101		03/20/24		29,258
Citibank NA	NZD	2,213,817		USD	1,375,179		03/20/24		24,563
MS & Co. Int. PLC	CHF	3,499,185		USD	4,015,166		03/20/24		180,060
	NOK	14,077,297		USD	1,338,012		03/20/24		50,029
State Street Bank and Trust	EUR	1,710,912		USD	1,877,575		03/20/24		17,309
TOTAL								$	451,105

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS WITH UNREALIZED LOSS

Counterparty	Currency Purchased		Currency Sold			Settlement Date		Unrealized Loss
Barclays Bank PLC	USD	1,722,532		EUR	1,595,546		03/20/24	$	(44,581	)
	USD	1,349,386		SEK	14,109,745		03/20/24		(53,996	)
BNP Paribas SA	USD	1,608,571		GBP	1,278,466		03/20/24		(21,667	)
	USD	1,072,770		NOK	11,749,317		03/20/24		(85,729	)
	USD	1,237,703		NZD	2,019,875		03/20/24		(39,415	)
Citibank NA	USD	4,088,477		CHF	3,526,810		03/20/24		(139,868	)
MS & Co. Int. PLC	USD	1,721,863		CAD	2,333,081		03/20/24		(40,821	)
	USD	3,475,117		JPY	485,203,480		03/21/24		(10,278	)
State Street Bank and Trust	USD	1,198,578		AUD	1,820,324		03/20/24		(44,885	)
TOTAL								$	(481,240	)

FORWARD SALES CONTRACTS — At December 31, 2023, the Fund had the following forward sales contracts:

Description	Interest Rate	Maturity Date(a)	Settlement Date		Principal Amount			Value
Government National Mortgage Association	3.000%	TBA - 30yr		01/22/24	$	(20,000,000	)	$	(18,119,368	)
Government National Mortgage Association	3.500	TBA - 30yr		01/22/24		(3,000,000	)		(2,794,315	)
Government National Mortgage Association	4.500	TBA - 30yr		01/22/24		(46,000,000	)		(44,908,342	)
Uniform Mortgage-Backed Security	2.000	TBA - 30yr		01/16/24		(53,000,000	)		(43,336,605	)
Uniform Mortgage-Backed Security	3.000	TBA - 30yr		01/16/24		(4,000,000	)		(3,540,625	)
Uniform Mortgage-Backed Security	4.500	TBA - 30yr		01/16/24		(48,000,000	)		(46,567,478	)
Uniform Mortgage-Backed Security	5.000	TBA - 30yr		01/16/24		(64,000,000	)		(63,359,968	)
Uniform Mortgage-Backed Security	5.500	TBA - 30yr		01/16/24		(32,000,000	)		(32,157,517	)
Uniform Mortgage-Backed Security	6.000	TBA - 30yr		01/16/24		(9,000,000	)		(9,143,440	)
(PROCEEDS RECEIVABLE: $(259,186,426))								$	(263,927,658	)

(a) TBA (To Be Announced) Securities are purchased on a forward commitment basis with an approximate principal amount and no defined maturity date. The actual principal and maturity date will be determined upon settlement when the specific mortgage pools are assigned.

FUTURES CONTRACTS — At December 31, 2023, the Fund had the following futures contracts:

Description	Number of Contracts	Expiration Date		Notional Amount			Unrealized Appreciation/ (Depreciation)
Long position contracts:
10 Year U.S. Treasury Notes	260		03/19/24	$	29,351,563		$	54,165
2 Year U.S. Treasury Notes	368		03/28/24		75,776,375			59,262
20 Year U.S. Treasury Bonds	89		03/19/24		11,119,438			47,970
30 Year German Euro-Buxl	4		03/07/24		625,807			40,001
5 Year German Euro-Bund	3		03/07/24		454,452			11,521
5 Year U.S. Treasury Notes	1,453		03/28/24		158,047,805			1,348,836
Ultra Long U.S. Treasury Bonds	574		03/19/24		76,682,812			5,567,513
Total							$	7,129,268
Short position contracts:
5 Year German Euro-Bobl	(183)		03/07/24		(24,097,289	)		(330,083	)
5 Year German Euro-Oat	(10)		03/07/24		(1,451,805	)		(3,670	)
Ultra 10-Year U.S. Treasury Note	(298)		03/19/24		(35,168,656	)		(1,582,456	)
Total							$	(1,916,209	)
TOTAL FUTURES CONTRACTS							$	5,213,059

GOLDMAN SACHS CORE FIXED INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

SWAP CONTRACTS — At December 31, 2023, the Fund had the following swap contracts:

CENTRALLY CLEARED INTEREST RATE SWAP CONTRACTS

Payments Made by the Fund	Payments Received by Fund	Termination Date		Notional Amount (000s)(a)		Market Value			Upfront Premium (Received) Paid			Unrealized Appreciation/ (Depreciation)
3M EURO(b)	3.720%(c)		03/18/25	EUR	79,160	$	608,444		$	(114,475	)	$	722,919
3.500%(c)	12M SOFR(c)		04/19/25	$	2,700		19,649			(2,517	)		22,166
1.250(d)	12M CHFOR(d)		03/20/26	CHF	25,660		(116,878	)		(127,651	)		10,773
3.000(d)	12M EURO(d)		03/20/26	EUR	109,600		(1,577,954	)		(1,478,311	)		(99,643	)
3M STIBOR(b)	3.500(d)		03/20/26	SEK	457,990		734,947			472,714			262,233
12M CDOR(e)	3.750(e)		03/20/26	CAD	40,220		90,141			(44,820	)		134,961
3.750(b)	3M AUDOR(b)		03/20/26	AUD	63,540		34,354			261,558			(227,204	)
12M SOFR(d)	4.000(d)		03/20/26	$	31,740		108,586			(75,093	)		183,679
6M NIBOR(e)	4.250(d)		03/20/26	NOK	427,720		413,642			320,379			93,263
12M GBP(d)	5.250(d)		03/20/26	GBP	33,840		1,190,464			905,856			284,608
12M JYOR(d)	0.500(d)		08/02/26	JPY	2,732,850		61,798			13,640			48,158
12M SOFR(d)	3.350(d)		10/06/27	$	90,850		425,886			52,795			373,091
6M EURO(e)	3.000(d)		10/20/27	EUR	40,300		755,760			(276,914	)		1,032,674
12M SOFR(d)	3.730(d)		11/28/27	$	17,750		203,901			64,774			139,127
12M EURO(d)	2.673(d)		04/22/28	EUR	35,450		902,892			146,473			756,419
2.852(d)	3M EURO(b)		04/22/28		35,450		(883,751	)		(126,263	)		(757,488	)
0.500(d)	12M JYOR(d)		08/03/28	JPY	5,691,460		122,399			(70,272	)		192,671
12M SOFR(d)	3.696(d)		09/22/28	$	75,640		748,647			(159,945	)		908,592
12M EURO(d)	2.500(d)		10/19/28	EUR	22,400		421,064			156,601			264,463
12M SOFR(d)	4.250(d)		03/20/29	$	20,680		770,884			656,204			114,680
12M GBP(d)	4.750(d)		03/20/29	GBP	8,370		709,484			409,594			299,890
0.500(d)	12M JYOR(d)		03/21/29	JPY	16,918,000		68,788			1,161,739			(1,092,951	)
2.680(d)	12M SOFR(d)		07/28/32	$	20,070		506,033			279,326			226,707
12M JYOR(d)	1.250(d)		08/02/33	JPY	1,172,060		19,268			(3,144	)		22,412
1.250(d)	12M JYOR(d)		08/03/33		1,623,000		(26,490	)		(84,338	)		57,848
12M SOFR(d)	4.306(d)		10/05/33	$	31,250		1,123,085			2,308			1,120,777
6M EURO(e)	3.000(d)		11/10/33	EUR	30,290		633,796			385,773			248,023
12M CHFOR(d)	1.500(d)		03/20/34	CHF	5,260		199,961			186,447			13,514
4.250(d)	12M GBP(d)		03/20/34	GBP	740		(79,157	)		(40,055	)		(39,102	)
6M EURO(e)	3.000(d)		03/20/34	EUR	5,760		304,095			268,532			35,563
12M CDOR(e)	3.250(e)		03/20/34	CAD	1,480		20,567			(12,215	)		32,782
3.000(d)	3M STIBOR(b)		03/20/34	SEK	114,440		(690,582	)		(416,638	)		(273,944	)
6M AUDOR(e)	4.250(e)		03/20/34	AUD	7,110		26,640			(165,330	)		191,970
12M SOFR(d)	4.250(d)		03/20/34	$	13,300		925,289			847,621			77,668
3M NZDOR(b)	4.750(e)		03/20/34	NZD	6,720		221,130			7,771			213,359
3.750(d)	6M NIBOR(e)		03/20/34	NOK	16,420		(63,541	)		(43,421	)		(20,120	)
12M JYOR(d)	1.000(d)		03/21/34	JPY	50,000		3,925			(3,696	)		7,621
3.240(d)	12M SOFR(d)		10/06/35	$	21,670		140,272			(260,257	)		400,529
3.781(d)	12M SOFR(d)		09/22/36		17,850		(562,184	)		276,951			(839,135	)
12M SOFR(d)	2.910(d)		07/28/37		48,890		(1,069,454	)		(652,894	)		(416,560	)
6M EURO(e)	2.152(d)		08/09/37	EUR	25,940		(635,483	)		(1,153,227	)		517,744
12M SOFR(d)	3.391(d)		05/10/38	$	58,990		(354,506	)		(604,439	)		249,933
12M JYOR(d)	1.500(d)		08/03/38	JPY	1,759,000		(91,811	)		(130,409	)		38,598
1.451(d)	6M EURO(e)		08/10/42	EUR	66,340		2,421,615			2,205,216			216,399
2.080(d)	12M SOFR(d)		07/28/47	$	48,510		1,102,327			808,586			293,741
6M EURO(e)	1.051(d)		08/11/47	EUR	38,840		(1,200,289	)		(982,688	)		(217,601	)
2.564(d)	12M SOFR(d)		05/11/53	$	50,200		533,611			508,916			24,695
2.000(d)	6M EURO(e)		05/17/53	EUR	11,230		38,911			83,122			(44,211	)
2.500(d)	6M EURO(e)		11/10/53		13,510		(648,737	)		(462,941	)		(185,796	)
3.613(d)	12M SOFR(d)		11/15/53	$	16,680		(719,839	)		(110,705	)		(609,134	)
3.512(d)	12M SOFR(d)		11/29/53		5,630		(203,205	)		(96,250	)		(106,955	)
2.500(d)	6M EURO(e)		03/20/54	EUR	3,090		(140,963	)		(90,972	)		(49,991	)
TOTAL						$	7,547,431		$	2,693,016		$	4,854,415

(a) Represents forward starting interest rate swaps whose effective dates of commencement of accruals and cash flows occur subsequent to December 31, 2023.

(b) Payments made quarterly.

(c) Payments made at maturity.

(d) Payments made annually.

(e) Payments made semi-annually.

GOLDMAN SACHS CORE FIXED INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

OVER THE COUNTER CREDIT DEFAULT SWAP CONTRACTS

Reference Obligation/Index	Financing Rate Paid by the Fund(a)		Credit Spread at December 31, 2023(b)		Counterparty		Termination Date	Notional Amount (000s)		Value			Upfront Premiums (Received) Paid			Unrealized Appreciation/ (Depreciation)
Protection Sold:
CMBX.NA.AAA.16		0.500%		0.766%		MS & Co. Int. PLC	04/17/65	$	10,700	$	(187,211	)	$	(216,579	)	$	29,368
TOTAL										$	(187,211	)	$	(216,579	)	$	29,368

(a) Payments made at monthly.

(b) Credit spread on the referenced obligation, together with the term of the swap contract, are indicators of payment/performance risk. The likelihood of a credit event occurring which would require a fund or its counterparty to make a payment or otherwise be required to perform under the swap contract is generally greater as the credit spread and the term of the swap contract increase.

CENTRALLY CLEARED CREDIT DEFAULT SWAP CONTRACTS

Referenced Obligation/Index	Financing Rate Received/(Paid) by the Fund(a)		Credit Spread at December 31, 2023(b)		Termination Date		Notional Amount (000s)		Value		Upfront Premiums (Received) Paid			Unrealized Appreciation/ (Depreciation)
Protection Sold:
CDX.NA.IG Index 40		1.000%		0.507%		06/20/28	$	106,631	$	2,179,894	$	845,733		$	1,334,161
General Electric Co. 6.750%, 3/15/32		1.000		0.285		06/20/26		3,875		66,715		26,061			40,654
Nordstrom, Inc., 6.950%, 3/15/2028		1.000		0.729		12/20/24		1,950		5,665		(12,304	)		17,969
Nordstrom, Inc., 6.950%, 3/15/2028		1.000		0.549		06/20/24		5,525		13,630		(2,509	)		16,139
Republic of Chile, 3.240%, 02/06/28		1.000		0.493		12/20/28		5,440		127,017		86,821			40,196
The Boeing Co., 8.750%, 08/15/21		1.000		0.225		06/20/24		1,225		4,903		2,491			2,412
United Mexican States, 4.150%, 03/28/27		1.000		0.880		12/20/28		3,980		22,845		(41,776	)		64,621
TOTAL									$	2,420,669	$	904,517		$	1,516,152

(a) Payments made quarterly.

(b) Credit spread on the referenced obligation, together with the term of the swap contract, are indicators of payment/performance risk. The likelihood of a credit event occurring which would require a fund or its counterparty to make a payment or otherwise be required to perform under the swap contract is generally greater as the credit spread and the term of the swap contract increase.

PURCHASED AND WRITTEN OPTIONS CONTRACTS — At December 31, 2023, the Fund had the following purchased and written options:

OVER-THE-COUNTER INTEREST RATE SWAPTIONS

Description	Counterparty	Exercise Rate		Expiration Date	Number of Contracts		Notional Amount		Market Value		Premiums Paid (Received) by Fund		Unrealized Appreciation/ (Depreciation)
Purchased option contracts
Calls
3M IRS	MS & Co. Int. PLC		3.425%	03/13/2024		50,850,000	$	50,850,000	$	19,647	$	54,779	$	(35,132	)
3M IRS	MS & Co. Int. PLC		3.800	03/13/2024		101,700,000		101,700,000		8,151		29,880		(21,729	)
						152,550,000	$	152,550,000	$	27,798	$	84,659	$	(56,861	)
Puts
3M IRS	Citibank NA		4.050	02/05/2024		24,020,000		24,020,000		170		4,711		(4,541	)
3M IRS	Citibank NA		3.700	02/05/2024		24,020,000		24,020,000		1,474		27,773		(26,299	)
3M IRS	Citibank NA		3.750	02/05/2024		24,020,000		24,020,000		1,077		21,326		(20,249	)
3M IRS	Citibank NA		4.000	02/05/2024		24,020,000		24,020,000		228		5,951		(5,723	)
						96,080,000	$	96,080,000	$	2,949	$	59,761	$	(56,812	)
Total purchased option contracts						248,630,000	$	248,630,000	$	30,747	$	144,420	$	(113,673	)

GOLDMAN SACHS CORE FIXED INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

OVER-THE-COUNTER INTEREST RATE SWAPTIONS (continued)

Description	Counterparty	Exercise Rate		Expiration Date		Number of Contracts	Notional Amount			Market Value			Premiums Paid (Received) by Fund			Unrealized Appreciation/ (Depreciation)
Written option contracts
Calls
6M IRS	Citibank NA		3.720%		03/14/2024	(44,710,000)	$	(44,710,000	)	$	(349,556	)	$	(101,598	)	$	(247,958	)
6M IRS	Citibank NA		3.744		03/14/2024	(44,710,000)		(44,710,000	)		(360,493	)		(98,906	)		(261,587	)
1M IRS	JPMorgan Securities, Inc.		2.378		01/29/2024	(5,140,000)		(5,140,000	)		(35,706	)		(57,087	)		21,381
1M IRS	MS & Co. Int. PLC		3.835		01/11/2024	(5,070,000)		(5,070,000	)		(164,007	)		(61,093	)		(102,914	)
1M IRS	MS & Co. Int. PLC		3.550		01/18/2024	(5,110,000)		(5,110,000	)		(69,339	)		(56,849	)		(12,490	)
1M IRS	MS & Co. Int. PLC		3.392		01/29/2024	(5,140,000)		(5,140,000	)		(44,099	)		(57,311	)		13,212
2M IRS	MS & Co. Int. PLC		3.948		01/03/2024	(5,110,000)		(5,110,000	)		(208,245	)		(55,827	)		(152,418	)
3M IRS	MS & Co. Int. PLC		3.650		03/13/2024	(152,550,000)		(152,550,000	)		(23,005	)		(73,039	)		50,034
1M IRS	UBS AG (London)		2.660		01/15/2024	(5,060,000)		(5,060,000	)		(14,420	)		(52,858	)		38,438
1M IRS	UBS AG (London)		2.431		01/22/2024	(5,120,000)		(5,120,000	)		(37,869	)		(52,616	)		14,747
						(277,720,000)	$	(277,720,000	)	$	(1,306,739	)	$	(667,184	)	$	(639,555	)
Puts
3M IRS	Citibank NA		3.900		02/05/2024	(48,040,000)		(48,040,000	)		(843	)		(18,846	)		18,003
3M IRS	Citibank NA		3.850		02/05/2024	(48,040,000)		(48,040,000	)		(1,151	)		(25,716	)		24,565
6M IRS	Citibank NA		3.720		03/14/2024	(44,710,000)		(44,710,000	)		(5,020	)		(101,598	)		96,578
6M IRS	Citibank NA		3.744		03/14/2024	(44,710,000)		(44,710,000	)		(4,541	)		(98,906	)		94,365
1M IRS	JPMorgan Securities, Inc.		2.378		01/29/2024	(5,140,000)		(5,140,000	)		(87,331	)		(57,087	)		(30,244	)
1M IRS	MS & Co. Int. PLC		3.835		01/11/2024	(5,070,000)		(5,070,000	)		(2,687	)		(61,093	)		58,406
1M IRS	MS & Co. Int. PLC		3.550		01/18/2024	(5,110,000)		(5,110,000	)		(27,284	)		(56,849	)		29,565
1M IRS	MS & Co. Int. PLC		3.392		01/29/2024	(5,140,000)		(5,140,000	)		(67,366	)		(57,311	)		(10,055	)
2M IRS	MS & Co. Int. PLC		3.948		01/03/2024	(5,110,000)		(5,110,000	)		(1	)		(55,827	)		55,826
1M IRS	UBS AG (London)		2.660		01/15/2024	(5,060,000)		(5,060,000	)		(100,046	)		(52,858	)		(47,188	)
1M IRS	UBS AG (London)		2.431		01/22/2024	(5,120,000)		(5,120,000	)		(63,932	)		(52,616	)		(11,316	)
						(221,250,000)	$	(221,250,000	)	$	(360,202	)	$	(638,707	)	$	278,505
Total written option contracts						(498,970,000)	$	(498,970,000	)	$	(1,666,941	)	$	(1,305,891	)	$	(361,050	)
TOTAL						(250,340,000)	$	(250,340,000	)	$	(1,636,194	)	$	(1,161,471	)	$	(474,723	)

Currency Abbreviations:
AUD	— Australian Dollar
CAD	— Canadian Dollar
CHF	— Swiss Franc
EUR	— Euro
GBP	— British Pound
JPY	— Japanese Yen
NOK	— Norwegian Krone
NZD	— New Zealand Dollar
SEK	— Swedish Krona
USD	— U.S. Dollar
Investment Abbreviations:
CLO	— Collateralized Loan Obligation
CMT	— Constant Maturity Treasury Indexes
GO	— General Obligation
ICE	— Inter-Continental Exchange
LIBOR	— London Interbank Offered Rate
LLC	— Limited Liability Company
LP	— Limited Partnership
PLC	— Public Limited Company
RB	— Revenue Bond
REIT	— Real Estate Investment Trust
REMICS	— Real Estate Mortgage Investment Conduits
RFUCC1 yr.	— 1 year Refinitiv USD IBOR Consumer Cash Fallbacks Term
SOFR	— Secured Overnight Financing Rate
STACR	— Structured Agency Credit Risk
USD	— US.Dollar

GOLDMAN SACHS CORE FIXED INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

Abbreviations:
1M IRS	— 1 Month Interest Rate Swaptions
2M IRS	— 2 Months Interest Rate Swaptions
3M IRS	— 3 Months Interest Rate Swaptions
6M IRS	— 6 Months Interest Rate Swaptions
AUDOR	— Australian Dollar Offered Rate
BofA Securities	— Bank of America Securities LLC
CDOR	— Canadian Dollar Offered Rate
CDX.NA.IG Ind 40	— CDX North America Investment Grade Index 40
CHFOR	— Swiss Franc Offered Rate
EURO	— Euro Offered Rate
JYOR	— Japanese Yen Offered Rate
MS & Co. Int. PLC	— Morgan Stanley & Co. International PLC
NIBOR	— Norwegian Interbank Offered Rate
NZDOR	— New Zealand Dollar Offered Rate
SOFR	— Secured Overnight Financing Rate
STIBOR	— Stockholm Interbank Offered Rate

GOLDMAN SACHS GLOBAL CORE FIXED INCOME FUND

Schedule of Investments

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – 32.4%
Aerospace & Defense(a) – 0.3%
Boeing Co.
$	779,000		5.150	%	05/01/30	$   793,116
	89,000		3.250		02/01/35	75,145
	225,000		3.375		06/15/46	165,341
	80,000		3.625		03/01/48	59,174
	100,000		3.750		02/01/50	77,886
L3Harris Technologies, Inc.
	50,000		4.400		06/15/28	49,392
	425,000		5.400		07/31/33	442,174
	75,000		5.600		07/31/53	80,106
						1,742,334
Agriculture(a) – 0.1%
BAT Capital Corp.
	50,000		3.557		08/15/27	47,754
BAT International Finance PLC
EUR	200,000		2.250		01/16/30	196,499
Philip Morris International, Inc.
$	525,000		5.625		11/17/29	550,693
						794,946
Automotive – 1.0%
General Motors Financial Co., Inc.(a)
EUR	100,000		1.694		03/26/25	107,600
	195,000		0.850		02/26/26	204,373
$	1,725,000		1.500		06/10/26	1,581,549
	650,000		5.000		04/09/27	648,992
	375,000		3.850		01/05/28	358,519
	200,000		5.650		01/17/29	204,718
	90,000		4.300		04/06/29	86,819
Hyundai Capital America(a)(b)
	2,425,000		1.650		09/17/26	2,205,246
	175,000		5.700		06/26/30	179,011
PACCAR Financial Corp.
	725,000		0.900		11/08/24	698,552
						6,275,379
Banks – 12.0%
ABN AMRO Bank NV(a)(b)(c) (1 yr. CMT + 0.800%)
	1,200,000		1.542		06/16/27	1,089,036
AIB Group PLC(a)(c)
(1 yr. EUR Swap + 1.950%)
EUR	1,150,000		4.625		07/23/29	1,309,736
(-1X 5 yr. EUR Swap + 3.300%)
	494,000		2.875		05/30/31	522,839
(3 mo. USD LIBOR + 1.874%)
$	1,250,000		4.263	(b)	04/10/25	1,243,487
Australia & New Zealand Banking Group Ltd.(a)(b)(c) (5 yr. CMT +1.288%)
	750,000		2.950		07/22/30	713,362
Banco Santander SA
	800,000		2.706		06/27/24	789,104
	1,000,000		3.800		02/23/28	944,400
	1,400,000		3.490		05/28/30	1,260,910
	200,000		2.749		12/03/30	166,080
	400,000		6.921		08/08/33	426,700

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Banks – (continued)
Bank of America Corp.(a)(c)
(3 mo. USD Term SOFR + 1.072%)
$	2,900,000		3.366	%	01/23/26	$  2,832,546
(Secured Overnight Financing Rate + 1.320%)
	350,000		2.687		04/22/32	295,530
(Secured Overnight Financing Rate + 1.630%)
	2,125,000		5.202		04/25/29	2,137,962
(Secured Overnight Financing Rate + 1.830%)
	1,039,000		4.571		04/27/33	991,061
(Secured Overnight Financing Rate + 1.910%)
	600,000		5.288		04/25/34	601,686
(Secured Overnight Financing Rate + 2.150%)
	375,000		2.592		04/29/31	322,958
(Secured Overnight Financing Rate + 2.160%)
	300,000		5.015		07/22/33	296,595
Bank of Ireland Group PLC(a)(c) (5 yr. EUR Swap + 4.150%)
EUR	400,000		6.750		03/01/33	477,639
Banque Federative du Credit Mutuel SA(a)(c) (5 yr. EUR Swap + 2.200%)
	1,200,000		3.875		06/16/32	1,309,386
Barclays PLC(a)(c)
(1 yr. CMT + 1.050%)
$	1,025,000		2.279		11/24/27	940,130
(1 yr. CMT + 3.500%)
	1,230,000		7.437		11/02/33	1,378,473
BNP Paribas SA
	1,450,000		3.375	(b)	01/09/25	1,419,666
	1,250,000		3.375		01/09/25	1,223,850
(Secured Overnight Financing Rate + 1.004%)
	575,000		1.323	(a)(b)(c)	01/13/27	530,334
(Secured Overnight Financing Rate + 2.074%)
	550,000		2.219	(a)(b)(c)	06/09/26	525,102
BPCE SA
EUR	300,000		1.750		04/26/27	317,040
(Secured Overnight Financing Rate + 1.520%)
$	1,000,000		1.652	(a)(b)(c)	10/06/26	930,820
CaixaBank SA
EUR	400,000		1.125		05/17/24	436,957
(-1X3 mo. EUR EURIBOR + 0.850%)
	700,000		0.375	(a)(c)	11/18/26	727,141
(-1X3 mo. EUR EURIBOR + 0.900%)
	1,500,000		0.500	(a)(c)	02/09/29	1,460,774
(-1X3 mo. EUR EURIBOR + 1.000%)
	300,000		0.750	(a)(c)	05/26/28	301,842
(3 mo. EUR EURIBOR + 0.620%)
	300,000		0.625	(a)(c)	01/21/28	305,558
(5 yr. EUR Swap + 3.000%)
	200,000		6.125	(a)(c)	05/30/34	233,616
(5 yr. EUR Swap + 3.550%)
	200,000		6.250	(a)(c)	02/23/33	233,075
Citigroup, Inc.(a)(c)
(Secured Overnight Financing Rate + 0.686%)
$	1,575,000		6.069		10/30/24	1,574,212
(Secured Overnight Financing Rate + 2.842%)
	1,700,000		3.106		04/08/26	1,652,961
(Secured Overnight Financing Rate + 3.914%)
	300,000		4.412		03/31/31	287,274

GOLDMAN SACHS GLOBAL CORE FIXED INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Banks – (continued)
Commonwealth Bank of Australia(a)(b)(c) (5 yr. CMT + 2.050%)
$	661,000		3.610	%	09/12/34	$    589,969
Credit Agricole SA
EUR	800,000		3.875		04/20/31	912,940
(Secured Overnight Financing Rate + 0.892%)
$	1,100,000		1.247	(a)(b)(c)	01/26/27	1,012,550
(Secured Overnight Financing Rate + 1.676%)
	300,000		1.907	(a)(b)(c)	06/16/26	284,730
Credit Suisse AG
	1,000,000		2.950		04/09/25	968,960
Danske Bank AS(a)(b)(c) (1 yr. CMT + 1.750%)
	1,275,000		4.298		04/01/28	1,234,060
Deutsche Bank AG(a)(c)
(-1X3 mo. EUR EURIBOR + 2.050%)
EUR	400,000		1.750		11/19/30	383,671
(3 mo. EUR EURIBOR + 2.950%)
	2,100,000		5.000		09/05/30	2,394,451
(Secured Overnight Financing Rate + 1.870%)
$	275,000		2.129		11/24/26	257,744
HSBC Holdings PLC
	200,000		4.250		08/18/25	195,710
(3 mo. USD Term SOFR + 1.473%)
	2,150,000		3.803	(a)(c)	03/11/25	2,141,421
(3 mo. USD Term SOFR + 1.796%)
	300,000		4.583	(a)(c)	06/19/29	291,102
Huntington Bancshares, Inc.(a)(c) (Secured Overnight Financing Rate + 2.020%)
	500,000		6.208		08/21/29	515,465
ING Groep NV(a)(c) (Secured Overnight Financing Rate + 1.830%)
	400,000		4.017		03/28/28	389,640
JPMorgan Chase & Co.(a)(c)
(3 mo. USD Term SOFR + 1.250%)
	350,000		2.580		04/22/32	296,216
(3 mo. USD Term SOFR + 2.515%)
	750,000		2.956		05/13/31	659,723
(Secured Overnight Financing Rate + 1.560%)
	3,125,000		4.323		04/26/28	3,073,219
(Secured Overnight Financing Rate + 2.080%)
	300,000		4.912		07/25/33	296,667
Kreditanstalt fuer Wiederaufbau(d)
EUR	3,500,000		3.125		10/10/28	3,990,366
Macquarie Bank Ltd.(a)(b)(c) (5 yr. CMT + 1.700%)
$	600,000		3.052		03/03/36	485,802
Macquarie Group Ltd.(a)(b)(c)
(3 mo. USD LIBOR + 1.372%)
	380,000		3.763		11/28/28	355,897
(Secured Overnight Financing Rate + 1.069%)
	400,000		1.340		01/12/27	367,448
Morgan Stanley(a)(c)
(5 yr. CMT + 2.430%)
	475,000		5.948		01/19/38	480,976
(Secured Overnight Financing Rate + 1.360%)
	775,000		2.484		09/16/36	615,172
(Secured Overnight Financing Rate + 1.590%)
	3,325,000		5.164		04/20/29	3,340,528
(Secured Overnight Financing Rate + 1.870%)
	500,000		5.250		04/21/34	499,485

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Banks – (continued)
National Australia Bank Ltd.(b)
$	750,000		6.429	%	01/12/33	$    790,770
Norinchukin Bank(b)
	1,050,000		1.284		09/22/26	950,596
Permanent TSB Group Holdings PLC(a)(c) (1 yr. EURIBOR ICE Swap + 3.500%)
EUR	265,000		6.625		04/25/28	308,845
Santander U.K. Group Holdings PLC(a)(c)
(1 yr. CMT + 1.250%)
$	1,000,000		1.532		08/21/26	932,960
(Secured Overnight Financing Rate + 0.787%)
	1,250,000		1.089		03/15/25	1,235,887
Shinhan Bank Co. Ltd.(b)
	240,000		4.500		04/12/28	237,799
Societe Generale SA(a)(b)(c) (1 yr. CMT + 1.100%)
	1,500,000		1.488		12/14/26	1,380,930
Standard Chartered PLC(a)(b)(c)
(1 yr. CMT + 0.880%)
	325,000		1.214		03/23/25	321,266
(1 yr. CMT + 1.000%)
	1,550,000		1.456		01/14/27	1,421,040
Sumitomo Mitsui Financial Group, Inc.
	325,000		3.040		07/16/29	296,806
Swedbank AB
EUR	950,000		1.300		02/17/27	976,577
Truist Financial Corp.(a)(c) (Secured Overnight Financing Rate + 2.050%)
$	225,000		6.047		06/08/27	229,037
U.S. Bancorp(a)(c) (Secured Overnight Financing Rate + 2.020%)
	700,000		5.775		06/12/29	718,984
UBS Group AG
	250,000		3.750		03/26/25	244,905
(-1X 1 yr. EUR Swap + 0.770%)
EUR	509,000		0.650	(a)(c)	01/14/28	513,671
(-1X 1 yr. EURIBOR ICE Swap + 1.050%)
	750,000		1.000	(a)(c)	06/24/27	777,399
(3 mo. USD LIBOR + 1.410%)
$	2,800,000		3.869	(a)(b)(c)	01/12/29	2,641,100
(5 yr. CMT + 4.758%)
	281,000		9.250	(a)(b)(c)	11/13/33	311,536
(Secured Overnight Financing Rate + 1.560%)
	2,000,000		2.593	(a)(b)(c)	09/11/25	1,956,780
(Secured Overnight Financing Rate + 1.560%)
	250,000		2.593	(a)(c)	09/11/25	244,598
Wells Fargo & Co.(a)(c)
(3 mo. USD Term SOFR + 1.432%)
	325,000		2.879		10/30/30	288,785
(Secured Overnight Financing Rate + 2.100%)
	300,000		4.897		07/25/33	292,446
Westpac Banking Corp.(a)(c)
(5 yr. CMT + 1.350%)
	1,200,000		2.894		02/04/30	1,156,404
(5 yr. CMT + 1.750%)
	475,000		2.668		11/15/35	386,360
						76,859,235

GOLDMAN SACHS GLOBAL CORE FIXED INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Beverages(a) – 1.1%
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc.
$	1,850,000		4.700	%	02/01/36	$  1,846,374
	750,000		4.900		02/01/46	739,957
Anheuser-Busch InBev Worldwide, Inc.
	300,000		4.750		01/23/29	305,022
	400,000		4.750		04/15/58	380,820
Bacardi Ltd.(b)
	1,200,000		4.700		05/15/28	1,176,120
Constellation Brands, Inc.
	1,500,000		4.400		11/15/25	1,482,930
	25,000		4.650		11/15/28	25,042
	238,000		4.750		05/09/32	237,315
Keurig Dr Pepper, Inc.
	776,000		4.417		05/25/25	768,232
	125,000		3.950		04/15/29	121,819
						7,083,631
Biotechnology(a) – 0.6%
Amgen, Inc.
	650,000		5.150		03/02/28	664,606
	1,450,000		5.250		03/02/30	1,491,079
	258,000		4.200		03/01/33	245,484
	1,275,000		5.250		03/02/33	1,306,811
						3,707,980
Building Materials(a) – 0.0%
Carrier Global Corp.
	145,000		2.493		02/15/27	136,467
Chemicals(a) – 0.2%
DuPont de Nemours, Inc.
	600,000		4.493		11/15/25	596,238
International Flavors & Fragrances, Inc.(b)
	450,000		1.230		10/01/25	416,511
	200,000		1.832		10/15/27	175,238
Syngenta Finance NV(b)
	400,000		4.892		04/24/25	394,504
						1,582,491
Commercial Services – 0.2%
Autostrade per l’Italia SpA(a)
EUR	575,000		4.750		01/24/31	653,865
DP World Crescent Ltd.
$	200,000		4.848		09/26/28	198,640
DP World Ltd.
	390,000		5.625		09/25/48	373,148
PayPal Holdings, Inc.(a)
	100,000		2.850		10/01/29	91,588
						1,317,241
Computers – 0.7%
Dell International LLC/EMC Corp.(a)
	1,250,000		6.020		06/15/26	1,279,187
	875,000		5.300		10/01/29	901,478
	75,000		6.200		07/15/30	80,499
Hewlett Packard Enterprise Co.(a)
	1,850,000		4.900		10/15/25	1,843,525

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Computers – (continued)
International Business Machines Corp.
$	325,000		3.500	%	05/15/29	$    310,050
						4,414,739
Diversified Financial Services – 0.7%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust(a)
	244,000		3.000		10/29/28	222,748
	208,000		3.300		01/30/32	181,137
Air Lease Corp.(a)
	1,150,000		3.250		03/01/25	1,119,881
	575,000		2.875		01/15/26	548,159
Ally Financial, Inc.(a)
	650,000		7.100		11/15/27	677,488
American Express Co.(a)
	255,000		2.500		07/30/24	250,650
Aviation Capital Group LLC(a)(b)
	400,000		1.950		01/30/26	370,560
Avolon Holdings Funding Ltd.(a)(b)
	400,000		3.950		07/01/24	394,912
Capital One Financial Corp.(a)
	505,000		3.300		10/30/24	496,400
Nomura Holdings, Inc.
	400,000		2.608		07/14/31	331,900
						4,593,835
Electrical – 0.9%
Ameren Corp.(a)
	150,000		2.500		09/15/24	146,696
E.ON International Finance BV
GBP	417,000		6.375		06/07/32	587,063
Electricite de France SA
$	1,450,000		4.500	(a)(b)	09/21/28	1,428,699
GBP	650,000		6.125		06/02/34	883,661
Enel Finance America LLC(a)(b)
$	675,000		2.875		07/12/41	458,055
Enel SpA(a)(c)
(-1X 5 yr. EUR Swap + 1.719%)
EUR	850,000		1.375		06/08/27	819,890
(5 yr. EUR Swap + 2.580%)
	235,000		3.375		08/24/26	247,105
Sempra(a)
$	700,000		3.400		02/01/28	667,590
TenneT Holding BV(a)
EUR	679,000		4.500		10/28/34	832,269
						6,071,028
Engineering & Construction(a) – 0.1%
Mexico City Airport Trust
$	540,000		3.875	(b)	04/30/28	505,791
	200,000		5.500	(b)	10/31/46	171,514
	200,000		5.500		07/31/47	171,836
						849,141
Entertainment(a) – 0.4%
Warnermedia Holdings, Inc.
	1,875,000		4.054		03/15/29	1,777,913

GOLDMAN SACHS GLOBAL CORE FIXED INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Entertainment(a) – (continued)
Warnermedia Holdings, Inc. – (continued)
$	975,000		4.279	%	03/15/32	$   891,998
						2,669,911
Environmental(a) – 0.2%
Veralto Corp.(b)
	875,000		5.350		09/18/28	896,875
Waste Management, Inc.
	216,000		4.875		02/15/34	220,415
						1,117,290
Food & Drug Retailing(a) – 0.1%
J M Smucker Co.
	900,000		5.900		11/15/28	947,646
Gas(a) – 0.1%
ONE Gas, Inc.
	828,000		1.100		03/11/24	820,407
Healthcare Providers & Services(a) – 1.3%
Alcon Finance Corp.(b)
	759,000		5.375		12/06/32	782,886
American Medical Systems Europe BV
EUR	1,325,000		0.750		03/08/25	1,414,127
GE HealthCare Technologies, Inc.
$	321,000		5.905		11/22/32	342,330
	550,000		6.377		11/22/52	639,210
HCA, Inc.
	250,000		3.375		03/15/29	230,613
	1,575,000		3.625		03/15/32	1,408,853
Medtronic Global Holdings SCA
EUR	400,000		0.250		07/02/25	421,422
Quest Diagnostics, Inc.
$	343,000		6.400		11/30/33	381,008
Stryker Corp.
EUR	325,000		3.375		12/11/28	363,760
UnitedHealth Group, Inc.
$	1,775,000		4.250		01/15/29	1,771,202
	38,000		4.200		05/15/32	37,159
	357,000		5.875		02/15/53	404,281
						8,196,851
Insurance(a) – 0.2%
Aviva PLC(c) (5 yr. UK Government Bond + 2.850%)
GBP	450,000		6.125		11/14/36	586,642
Rothesay Life PLC
	475,000		7.734		05/16/33	645,340
						1,231,982
Internet – 0.7%
Amazon.com, Inc.(a)
$	350,000		2.100		05/12/31	301,875
Expedia Group, Inc.(a)
	1,150,000		3.250		02/15/30	1,054,619
Netflix, Inc.
EUR	1,800,000		4.625		05/15/29	2,124,499
Prosus NV(a)
$	350,000		3.257		01/19/27	321,672
	210,000		3.680	(b)	01/21/30	182,569

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Internet – (continued)
Prosus NV(a) – (continued)
$	200,000		4.027	%(b)	08/03/50	$    130,375
	200,000		3.832	(b)	02/08/51	125,750
						4,241,359
Iron/Steel(a) – 0.2%
Steel Dynamics, Inc.
	1,275,000		1.650		10/15/27	1,135,974
Lodging(a) – 0.4%
Marriott International, Inc.
	515,000		5.000		10/15/27	521,443
	1,500,000		4.650		12/01/28	1,493,355
	375,000		4.900		04/15/29	377,411
						2,392,209
Machinery-Diversified(a) – 0.1%
Ingersoll Rand, Inc.
	200,000		5.700		08/14/33	211,608
Otis Worldwide Corp.
	225,000		5.250		08/16/28	231,649
						443,257
Media(a) – 0.6%
Charter Communications Operating LLC/Charter Communications Operating Capital
	3,400,000		4.908		07/23/25	3,368,278
	650,000		4.800		03/01/50	505,914
Comcast Corp.
	300,000		4.150		10/15/28	295,848
						4,170,040
Mining(a) – 0.2%
Glencore Finance Europe Ltd.
GBP	125,000		3.125		03/26/26	153,097
Glencore Funding LLC(b)
$	455,000		1.625		04/27/26	421,416
	775,000		4.875		03/12/29	774,055
						1,348,568
Miscellaneous Manufacturing – 0.4%
GE Capital Funding LLC(a)
	1,500,000		4.550		05/15/32	1,471,455
General Electric Co.
	43,000		6.750		03/15/32	49,001
Teledyne Technologies, Inc.(a)
	1,250,000		0.950		04/01/24	1,235,400
						2,755,856
Multi-National – 2.7%
African Export-Import Bank(a)(b)
	390,000		2.634		05/17/26	360,173
	360,000		3.798		05/17/31	305,165
Asian Development Bank
GBP	4,200,000		1.125		06/10/25	5,098,435
European Investment Bank
EUR	1,240,000		0.875		01/14/28	1,291,145
	3,500,000		3.000		11/15/28	3,966,487
	4,410,000		2.250		03/15/30	4,818,713

GOLDMAN SACHS GLOBAL CORE FIXED INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Multi-National – (continued)
FMS Wertmanagement(d)
GBP	1,100,000		1.375	%	03/07/25	$  1,348,961
						17,189,079
Oil Field Services – 0.7%
BP Capital Markets PLC
EUR	300,000		1.594		07/03/28	311,268
Diamondback Energy, Inc.(a)
$	325,000		6.250		03/15/33	347,938
Occidental Petroleum Corp.(a)
	750,000		8.500		07/15/27	818,370
Pertamina Persero PT
	200,000		6.500		05/27/41	219,250
QatarEnergy(a)(b)
	820,000		3.300		07/12/51	597,452
TotalEnergies SE(a)(c)
(-1X 5 yr. EUR Swap + 2.404%)
EUR	375,000		2.000		06/04/30	349,351
(5 yr. EUR Swap + 3.350%)
	300,000		3.369		10/06/26	322,621
Wintershall Dea Finance BV(a)
	1,300,000		1.332		09/25/28	1,284,546
						4,250,796
Pharmaceuticals(a) – 0.7%
AbbVie, Inc.
$	1,350,000		2.600		11/21/24	1,319,098
	325,000		3.200		11/21/29	303,660
Bayer U.S. Finance II LLC(b)
	1,000,000		4.250		12/15/25	973,800
Becton Dickinson & Co.
EUR	185,000		0.034		08/13/25	193,425
Bristol-Myers Squibb Co.
$	325,000		3.400		07/26/29	308,175
Cigna Group
	300,000		4.375		10/15/28	297,636
	714,000		5.400		03/15/33	742,674
CVS Health Corp.
	325,000		4.780		03/25/38	307,226
McKesson Corp.
EUR	125,000		1.500		11/17/25	133,664
Pfizer Investment Enterprises Pte. Ltd.
$	188,000		4.750		05/19/33	188,340
						4,767,698
Pipelines – 1.0%
Abu Dhabi Crude Oil Pipeline LLC(b)
	1,260,000		4.600		11/02/47	1,152,506
Enbridge, Inc.(a)
	350,000		6.000		11/15/28	367,759
	700,000		5.700		03/08/33	727,993
Energy Transfer LP(a)
	750,000		6.100		12/01/28	789,592
	250,000		5.250		04/15/29	251,970
	500,000		6.400		12/01/30	534,875
Galaxy Pipeline Assets Bidco Ltd.
	200,000		2.625	(b)	03/31/36	164,750

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Pipelines – (continued)
Galaxy Pipeline Assets Bidco Ltd. – (continued)
$	578,534		2.940	%	09/30/40	$    475,845
Sabine Pass Liquefaction LLC(a)
	1,500,000		5.625		03/01/25	1,502,895
Williams Cos., Inc.(a)
	350,000		2.600		03/15/31	299,639
						6,267,824
Real Estate(a) – 0.3%
CBRE Services, Inc.
	600,000		5.950		08/15/34	631,380
Logicor Financing SARL
EUR	600,000		2.250		05/13/25	641,386
	550,000		3.250		11/13/28	577,100
	325,000		1.625		01/17/30	306,753
						2,156,619
Real Estate Investment Trust(a) – 0.4%
American Homes 4 Rent LP
$	125,000		2.375		07/15/31	103,145
NNN REIT, Inc.
	375,000		3.900		06/15/24	371,782
	400,000		5.600		10/15/33	413,548
Realty Income Corp.
	900,000		4.625		11/01/25	894,429
Spirit Realty LP
	300,000		2.100		03/15/28	266,298
WEA Finance LLC/Westfield U.K. & Europe Finance PLC(b)
	400,000		3.750		09/17/24	391,864
WP Carey, Inc.
	240,000		4.600		04/01/24	238,870
	170,000		4.000		02/01/25	167,477
						2,847,413
Retailing(a) – 0.4%
AutoNation, Inc.
	200,000		1.950		08/01/28	172,080
CK Hutchison International 20 Ltd.(b)
	200,000		2.500		05/08/30	174,368
CK Hutchison International 23 Ltd.(b)
	350,000		4.750		04/21/28	350,546
Dollar Tree, Inc.
	650,000		4.000		05/15/25	638,469
Lowe’s Cos., Inc.
	378,000		5.000		04/15/33	386,097
	625,000		5.150		07/01/33	642,469
						2,364,029
Semiconductors(a) – 0.7%
Broadcom, Inc.
	325,000		4.300		11/15/32	311,607
	175,000		3.469	(b)	04/15/34	152,322
	2,784,000		3.137	(b)	11/15/35	2,286,471
	350,000		4.926	(b)	05/15/37	338,569
Micron Technology, Inc.
	125,000		6.750		11/01/29	135,090

GOLDMAN SACHS GLOBAL CORE FIXED INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Semiconductors(a) – (continued)
NXP BV/NXP Funding LLC/NXP USA, Inc.
$	1,004,000		5.000	%	01/15/33	$  1,002,303
						4,226,362
Software(a) – 0.9%
Fidelity National Information Services, Inc.
EUR	550,000		0.625		12/03/25	577,330
Fiserv, Inc.
$	237,000		3.500		07/01/29	223,214
Oracle Corp.
	1,550,000		2.875		03/25/31	1,372,649
	450,000		6.250		11/09/32	489,343
	500,000		4.900		02/06/33	497,635
	850,000		3.950		03/25/51	668,125
	900,000		6.900		11/09/52	1,054,872
	525,000		5.550		02/06/53	525,835
Workday, Inc.
	125,000		3.700		04/01/29	120,049
						5,529,052
Telecommunication Services – 1.4%
AT&T, Inc.(a)
	300,000		4.300		02/15/30	293,664
EUR	307,000		1.800		09/14/39	258,279
$	350,000		4.750		05/15/46	317,327
	280,000		3.650		06/01/51	211,338
Deutsche Telekom International Finance BV
	250,000		8.750		06/15/30	301,372
Telefonica Emisiones SA
GBP	450,000		5.445		10/08/29	593,181
T-Mobile USA, Inc.(a)
$	500,000		3.500		04/15/25	489,655
	656,000		3.750		04/15/27	636,582
	300,000		4.750		02/01/28	298,833
	1,225,000		3.875		04/15/30	1,163,003
	1,675,000		2.550		02/15/31	1,441,924
	375,000		2.700		03/15/32	319,969
	1,525,000		5.200		01/15/33	1,562,439
Verizon Communications, Inc.
	300,000		4.329		09/21/28	296,922
	325,000		4.016	(a)	12/03/29	314,444
	350,000		2.355	(a)	03/15/32	291,368
Vodafone Group PLC(a)
EUR	165,000		1.875		09/11/25	177,602
						8,967,902
Water – 0.4%
Thames Water Utilities Finance PLC
GBP	150,000		4.000		06/19/25	182,934
Veolia Environnement SA(a)
EUR	1,300,000		1.940		01/07/30	1,342,841
(-1X 5 yr. EUR Swap + 2.840%)
	200,000		2.500	(c)	01/20/29	197,603

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Water – (continued)
Veolia Environnement SA(a) – (continued)
(-5 yr. EURIBOR ICE Swap + 2.151%)
EUR	600,000		1.625	%(c)	06/01/26	$    611,646
						2,335,024
TOTAL CORPORATE OBLIGATIONS (Cost $211,912,143)						$207,801,595
Sovereign Debt Obligations – 29.1%
British Pound – 0.7%
State of North Rhine-Westphalia
GBP	400,000		2.125	%	06/13/25	$    491,118
U.K. Gilts
	840,000		1.500		07/31/53	596,929
	1,990,000		3.500		01/22/45	2,310,598
	220,000		1.750		07/22/57	163,548
	710,000		3.500		07/22/68	812,682
						4,374,875
Canadian Dollar – 1.5%
Province of British Columbia
CAD	2,600,000		2.850		06/18/25	1,923,417
	2,000,000		4.950		06/18/40	1,690,850
Province of Ontario
	1,700,000		2.600		06/02/25	1,253,834
	2,300,000		4.650		06/02/41	1,874,455
Province of Quebec
GBP	2,390,000		2.250		09/15/26	2,895,921
						9,638,477
Euro – 5.6%
European Financial Stability Facility(d)
EUR	1,170,000		0.875		04/10/35	1,057,838
European Union
	820,000		0.200		06/04/36	659,666
Finland Government Bonds
	1,190,000		1.500		09/15/32	1,210,969
French Republic Government Bonds OAT
	1,760,000		1.250		05/25/34	1,707,486
	310,000		3.250		05/25/45	358,230
	210,000		2.000		05/25/48	191,874
	800,000		1.750		05/25/66	632,051
	1,030,000		4.500		04/25/41	1,386,405
Indonesia Government International Bonds(b)
	240,000		2.150		07/18/24	261,604
Ireland Government Bonds
	430,000		0.200		10/18/30	413,894
	920,000		0.350		10/18/32	855,215
Italy Buoni Poliennali Del Tesoro
	5,400,000		0.000	(e)	08/01/26	5,554,589
	3,220,000		0.900		04/01/31	3,009,106
	1,130,000		3.250		03/01/38	1,146,282
	1,170,000		2.150		09/01/52	861,951
	100,000		2.800		03/01/67	80,858
	1,680,000		6.000		05/01/31	2,183,167
Kingdom of Belgium Government Bonds
	1,690,000		0.350		06/22/32	1,559,350

GOLDMAN SACHS GLOBAL CORE FIXED INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Sovereign Debt Obligations – (continued)
Euro – (continued)
Kingdom of Belgium Government Bonds – (continued)
EUR	250,000		2.150	%	06/22/66	$    218,839
Portugal Obrigacoes do Tesouro OT
	1,200,000		1.950		06/15/29	1,302,127
Region Wallonne Belgium
	1,300,000		2.875		01/14/38	1,369,736
Republic of Austria Government Bonds
	1,270,000		0.000	(e)	10/20/28	1,256,543
	280,000		2.100	(f)	09/20/17	239,610
	280,000		0.850	(g)	06/30/20	145,697
Romania Government Bonds
RON	1,375,000		6.700		02/25/32	312,577
Romania Government International Bonds
EUR	630,000		2.124		07/16/31	552,865
	70,000		2.000	(b)	01/28/32	59,521
	400,000		3.375	(b)	01/28/50	299,851
Spain Government Bonds
	3,430,000		2.550		10/31/32	3,691,810
	650,000		0.850		07/30/37	528,876
	870,000		1.250		10/31/30	874,343
	700,000		2.900		10/31/46	699,252
	1,110,000		3.450		07/30/66	1,145,551
						35,827,733
Indonesian Rupiah – 0.4%
Indonesia Treasury Bonds
IDR	29,050,000,000		6.625		02/15/34	1,893,737
	2,324,000,000		6.500		02/15/31	150,622
	7,391,000,000		6.375		04/15/32	474,988
	1,439,000,000		6.375		07/15/37	91,591
						2,610,938
Israeli Shekel – 0.2%
Israel Government Bonds - Fixed
	ILS 2,430,000		2.000		03/31/27	637,336
	2,500,000		1.300		04/30/32	561,962
						1,199,298
Japanese Yen – 18.5%
Japan Government Forty Year Bonds
JPY	712,600,000		1.000		03/20/62	4,002,235
Japan Government Ten Year Bonds
	2,015,900,000		0.100		06/20/30	14,114,445
	2,089,600,000		0.100		09/20/31	14,424,761
Japan Government Thirty Year Bonds
	721,900,000		1.400		09/20/52	4,824,545
Japan Government Twenty Year Bonds
	903,000,000		1.100		09/20/42	6,155,898
Japan Government Two Year Bonds
	4,031,000,000		0.005		07/01/24	28,606,663
	780,250,000		0.005		09/01/24	5,536,731
	1,892,350,000		0.005		01/01/25	13,425,619
Japan Treasury Discount Bills(e)
	3,925,500,000		0.000		01/15/24	27,841,818
						118,932,715

Principal Amount		Interest Rate			Maturity Date	Value
Sovereign Debt Obligations – (continued)
Peruvian Nuevo Sol – 0.1%
Peru Government Bonds
PEN	1,550,000		5.940	%	02/12/29	$    418,179
Singapore Dollar – 0.2%
Singapore Government Bonds
SGD	1,320,000		3.375		09/01/33	1,057,100
South Korean Won – 0.6%
Korea Treasury Bonds
KRW	2,598,070,000		1.875		06/10/29	1,883,395
	2,641,660,000		1.375		12/10/29	1,848,509
						3,731,904
Sovereign – 0.2%
Export-Import Bank of Korea
$	390,000		5.000		01/11/28	397,028
Mexico Government International Bonds(a)
	1,521,000		3.771		05/24/61	1,028,101
	360,000		3.750		04/19/71	239,400
						1,664,529
Thai Baht – 0.0%
Thailand Government Bonds
THB	12,000,000		3.450		06/17/43	366,221
Thailand Baht – 0.2%
Thailand Government Bonds
	6,350,000		2.650		06/17/28	187,435
	3,240,000		3.350		06/17/33	99,942
	2,490,000		3.390		06/17/37	77,035
	6,710,000		2.875		12/17/28	200,304
	26,930,000		1.585		12/17/35	696,357
						1,261,073
Total Colombia Peso – 0.1%
Colombia TES
COP	1,779,900,000		9.250		05/28/42	418,384
United States Dollar – 0.8%
Chile Government International Bonds(a)
$	430,000		3.100		05/07/41	325,725
Export-Import Bank of Korea
	330,000		5.125		01/11/33	343,141
Hungary Government International Bonds
	2,040,000		6.125		05/22/28	2,121,927
Korea Hydro & Nuclear Power Co. Ltd.(b)
	630,000		4.250		07/27/27	619,397
Panama Government International Bonds(a)
	200,000		6.875		01/31/36	199,375
Peru Government International Bonds(a)
	10,000		2.780		12/01/60	6,222
	100,000		3.230		07/28/21(h)	62,156
Philippines Government International Bonds
	470,000		3.700		03/01/41	402,731
Romania Government International Bonds(b)
	240,000		3.000		02/27/27	223,200
Saudi Government International Bonds
	830,000		4.875		07/18/33	846,600

GOLDMAN SACHS GLOBAL CORE FIXED INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Sovereign Debt Obligations – (continued)
United States Dollar – (continued)
Uruguay Government International Bonds(a)
$	90,000		4.375	%	01/23/31	$     89,128
						5,239,602
TOTAL SOVEREIGN DEBT OBLIGATIONS (Cost $197,328,204)						$186,741,028
Mortgage-Backed Obligations – 25.2%
Collateralized Mortgage Obligations – 1.4%
Interest Only(i) – 0.2%
Federal Home Loan Mortgage Corp. REMICS Series 5002, Class SJ (-1X 30 day USD SOFR Average + 5.986%)
$	985,457		0.648	%(c)	07/25/50	$    118,826
Federal Home Loan Mortgage Corp. REMICS Series 5012, Class DI
	162,842		4.000		09/25/50	32,118
Federal Home Loan Mortgage Corp. REMICS Series 5020, Class IH
	877,764		3.000		08/25/50	144,090
Federal Home Loan Mortgage Corp. REMICS Series 4583, Class ST (-1X 30 day USD SOFR Average + 5.886%)
	411,821		0.547	(c)	05/15/46	46,660
Federal Home Loan Mortgage Corp. REMICS Series 4314, Class SE (-1X 30 day USD SOFR Average + 5.936%)
	115,049		0.597	(c)	03/15/44	11,706
Federal Home Loan Mortgage Corp. REMICS Series 4998, Class GI
	866,267		4.000		08/25/50	168,372
Federal National Mortgage Association REMICS Series 2020-60, Class NI
	151,232		4.000		09/25/50	29,828
Federal National Mortgage Association REMICS Series 2017-31, Class SG (30 day USD SOFR Average + 5.986%)
	322,577		0.648	(c)	05/25/47	37,760
Federal National Mortgage Association REMICS Series 2018-17, Class CS (-1X 30 day USD SOFR Average + 3.336%)
	791,885		0.000	(c)	03/25/48	14,246
Federal National Mortgage Association REMICS Series 2012-5, Class SA (-1X 30 day USD SOFR Average + 5.836%)
	157,446		0.498	(c)	02/25/42	15,201
Government National Mortgage Association REMICS Series 2014-132, Class SL (-1X 1 mo. USD Term SOFR + 5.986%)
	134,143		0.628	(a)(c)	10/20/43	6,961
Government National Mortgage Association REMICS Series 2015-129, Class IC
	95,286		4.500	(a)	09/16/45	17,481
Government National Mortgage Association REMICS Series 2019-1, Class SN (-1X 1 mo. USD Term SOFR + 5.936%)
	144,394		0.578	(a)(c)	01/20/49	14,223
Government National Mortgage Association REMICS Series 2019-78, Class SE (-1X 1 mo. USD Term SOFR + 5.986%)
	100,112		0.628	(a)(c)	06/20/49	9,621

Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Obligations – (continued)
Interest Only(i) – (continued)
Government National Mortgage Association REMICS Series 2020-78, Class DI
$	577,989		4.000	%(a)	06/20/50	$    111,740
Government National Mortgage Association REMICS Series 2020-146, Class KI
	1,187,439		2.500	(a)	10/20/50	161,274
Government National Mortgage Association REMICS Series 2013-124, Class CS (-1X 1 mo. USD Term SOFR + 5.936%)
	237,829		0.578	(a)(c)	08/20/43	25,809
Government National Mortgage Association REMICS Series 2015-123, Class SP (1 mo. USD Term SOFR + 6.136%)
	145,074		0.778	(a)(c)	09/20/45	16,438
Government National Mortgage Association REMICS Series 2016-27, Class IA
	104,960		4.000	(a)	06/20/45	13,242
Government National Mortgage Association REMICS Series 2018-122, Class SE (-1X 1 mo. USD Term SOFR + 6.086%)
	291,087		0.728	(a)(c)	09/20/48	30,911
Government National Mortgage Association REMICS Series 2019-110, Class PS (-1X 1 mo. USD Term SOFR + 5.936%)
	985,070		0.578	(a)(c)	09/20/49	113,702
Government National Mortgage Association REMICS Series 2010-20, Class SE (-1X 1 mo. USD Term SOFR + 6.136%)
	285,482		0.778	(a)(c)	02/20/40	29,559
Government National Mortgage Association REMICS Series 2016-1, Class ST (-1X 1 mo. USD Term SOFR + 6.086%)
	106,616		0.728	(a)(c)	01/20/46	11,328
Government National Mortgage Association REMICS Series 2019-151, Class IA
	1,363,805		3.500	(a)	12/20/49	238,947
Government National Mortgage Association REMICS Series 2016-138, Class GI
	250,776		4.000	(a)	10/20/46	47,092
Government National Mortgage Association REMICS Series 2015-167, Class AS (-1X 1 mo. USD Term SOFR + 6.136%)
	86,135		0.778	(a)(c)	11/20/45	9,141
						1,476,276
Sequential Fixed Rate – 0.1%
Federal National Mortgage Association REMICS Series 2011-99, Class DB
	143,806		5.000		10/25/41	145,149
Federal National Mortgage Association REMICS Series 2012- 111, Class B
	18,956		7.000		10/25/42	20,556
Federal National Mortgage Association REMICS Series 2012- 153, Class B
	76,332		7.000		07/25/42	83,374

GOLDMAN SACHS GLOBAL CORE FIXED INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Obligations – (continued)
Sequential Fixed Rate – (continued)
Federal National Mortgage Association REMICS Series 2011-52, Class GB
$	157,460		5.000	%	06/25/41	$    160,372
						409,451
Sequential Floating Rate(a) – 1.1%
Angel Oak Mortgage Trust Series 2021-6, Class A1
	484,377		1.458	(b)(c)	09/25/66	388,638
Countrywide Alternative Loan Trust Series 2005-38, Class A1 (1 yr. MTA + 1.500%)
	37,699		6.512	(c)	09/25/35	33,531
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2021-DNA5, Class M2 (30 day USD SOFR Average + 1.650%)
	143,525		6.987	(b)(c)	01/25/34	144,098
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2022-DNA1, Class M1A (30 day USD SOFR Average + 1.000%)
	480,744		6.337	(b)(c)	01/25/42	479,168
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2022-HQA1, Class M1B (30 day USD SOFR Average + 3.500%)
	379,000		8.837	(b)(c)	03/25/42	392,839
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes Series 2016-DNA4, Class M3 (30 day USD SOFR Average + 3.914%)
	301,489		9.252	(c)	03/25/29	315,226
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes Series 2023-HQA2, Class M1B (30 Day USD SOFR Average + 3.350%)
	438,000		8.687	(b)(c)	06/25/43	461,836
Federal National Mortgage Association Connecticut Avenue Securities Series 2021-R01, Class 1M2 (30 day USD SOFR Average + 1.550%)
	318,000		6.887	(b)(c)	10/25/41	318,063
Federal National Mortgage Association Connecticut Avenue Securities Series 2021-R03, Class 1M2 (30 day USD SOFR Average + 1.650%)
	285,000		6.987	(b)(c)	12/25/41	281,311
Federal National Mortgage Association Connecticut Avenue Securities Series 2022-R05, Class 2M1 (30 day USD SOFR Average + 1.900%)
	189,965		7.237	(b)(c)	04/25/42	191,119
Federal National Mortgage Association Connecticut Avenue Securities Series 2022-R05, Class 2M2 (30 day USD SOFR Average + 3.000%)
	227,000		8.337	(b)(c)	04/25/42	232,442
Federal National Mortgage Association Connecticut Avenue Securities Series 2023-R03, Class 2M2 (30 day USD SOFR Average + 3.900%)
	457,298		9.237	(b)(c)	04/25/43	489,549
Federal National Mortgage Association Connecticut Avenue Securities Series 2023-R05, Class 1M2 (30 day USD SOFR Average + 3.100%)
	230,000		8.437	(b)(c)	06/25/43	240,134

Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Obligations – (continued)
Sequential Floating Rate(a) – (continued)
Federal National Mortgage Association Connecticut Avenue Securities Series 2023-R06, Class 1M2 (30 day USD SOFR Average + 2.700%)
$	220,000		8.037	%(b)(c)	07/25/43	$    226,566
Federal National Mortgage Association Connecticut Avenue Securities Series 2023-R08, Class 1M2 (30 day USD SOFR Average + 2.500%)
	555,000		7.837	(b)(c)	10/25/43	567,235
GCAT Trust Series 2022-NQM4, Class A1
	153,935		5.269	(b)(j)	08/25/67	154,789
HarborView Mortgage Loan Trust Series 2006-6, Class 3A1A
	157,889		4.322	(c)	08/19/36	125,972
JP Morgan Mortgage Trust Series 2021-LTV2, Class A1
	1,057,661		2.520	(b)(c)	05/25/52	859,033
JP Morgan Mortgage Trust Series 2022-LTV1, Class A2
	353,362		3.520	(b)(c)	07/25/52	299,903
Mill City Mortgage Loan Trust Series 2017-2, Class A3
	163,884		3.235	(b)(c)	07/25/59	157,121
OBX Trust Series 2022-NQM7, Class A1
	154,870		5.110	(b)(j)	08/25/62	154,688
Sequoia Mortgage Trust Series 2004-10, Class A3A (6 mo. USD Term SOFR + 1.088%)
	29,449		6.577	(c)	11/20/34	26,982
Towd Point Mortgage Trust Series 2020-1, Class A2A
	530,000		3.100	(b)(c)	01/25/60	461,703
Verus Securitization Trust Series 2021-8, Class A1
	127,708		1.824	(b)(c)	11/25/66	109,396
Verus Securitization Trust Series 2022-INV1, Class A1
	87,719		5.041	(b)(j)	08/25/67	86,813
						7,198,155
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS						$  9,083,882
Commercial Mortgage-Backed Securities – 3.6%
Sequential Fixed Rate – 1.9%
3650R Commercial Mortgage Trust Series 2021-PF1, Class AS
$	850,000		2.778	%(c)	11/15/54	$    686,681
Bank Series 2023-BNK46, Class A4
	1,700,000		5.745	(a)	08/15/56	1,793,051
Bank5 Series 2023-5YR4, Class A3
	400,000		6.500	(a)	12/15/56	422,895
Benchmark Mortgage Trust Series 2023-B39, Class A5
	1,125,000		5.754	(a)	07/15/56	1,182,157
BMO Mortgage Trust Series 2022-C3, Class A5
	300,000		5.313	(a)	09/15/54	305,632
BMO Mortgage Trust Series 2023-C5, Class A5
	1,500,000		5.765	(a)	06/15/56	1,578,985
BMO Mortgage Trust Series 2023-C7, Class A5
	2,300,000		6.160	(a)	12/15/56	2,495,819
Citigroup Commercial Mortgage Trust Series 2017-P8, Class D
	400,000		3.000	(a)(b)	09/15/50	276,369
Citigroup Commercial Mortgage Trust Series 2019-C7, Class A4
	385,000		3.102	(a)	12/15/72	345,307
DOLP Trust Series 2021-NYC, Class A
	1,500,000		2.956	(b)	05/10/41	1,235,301
GS Mortgage Securities Trust Series 2017-GS7, Class A4
	950,000		3.430	(a)	08/10/50	877,216

GOLDMAN SACHS GLOBAL CORE FIXED INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Obligations – (continued)
Sequential Fixed Rate – (continued)
Wells Fargo Commercial Mortgage Trust Series 2021-C59, Class A5
$	1,100,000		2.626	%(a)	04/15/54	$    933,420
						12,132,833
Sequential Floating Rate(c) –1.7%
Bank Series 2022-BNK40, Class A4
	1,150,000		3.394	(a)	03/15/64	1,026,190
Bank5 Series 2023-5YR2, Class A3
	1,225,000		6.656	(a)	07/15/56	1,296,911
Bank5 Series 2023-5YR4, Class AS
	400,000		7.274	(a)	12/15/56	417,977
BBCMS Mortgage Trust Series 2023-5C23, Class A3
	1,900,000		6.675	(a)	12/15/56	2,025,797
BBCMS Mortgage Trust Series 2023-5C23, Class AS
	650,000		7.703	(a)	12/15/56	693,306
BX Trust Series 2021-AR1A, Class C (1 mo. USD Term SOFR + 1.760%)
	450,000		7.123	(b)	10/15/36	434,884
BX Trust Series 2022-PSB, Class A (1 mo. USD Term SOFR + 2.451%)
	1,062,922		7.813	(b)	08/15/39	1,062,341
Citigroup Commercial Mortgage Trust Series 2023-PRM3, Class A
	1,000,000		6.360	(b)	07/10/28	1,027,019
ELP Commercial Mortgage Trust Series 2021-ELP, Class A (1 mo. USD Term SOFR + 0.815%)
	1,298,489		6.178	(b)	11/15/38	1,272,419
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series KF153, Class AS (30 day USD SOFR Average + 0.680%)
	800,000		6.011	(a)	02/25/33	798,071
Wells Fargo Commercial Mortgage Trust Series 2022-C62, Class A4
	700,000		4.000	(a)	04/15/55	648,210
						10,703,125
TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES						$ 22,835,958
Federal Agencies – 20.2%
Federal Home Loan Mortgage Corp. – 0.0%
$	1,656		5.000	%	01/01/33	$      1,671
	154		5.000		06/01/33	155
	1,694		5.000		07/01/33	1,709
	2,255		5.000		08/01/33	2,276
	388		5.000		10/01/33	391
	1,027		5.000		11/01/33	1,036
	488		5.000		12/01/33	492
	1,552		5.000		02/01/34	1,567
	769		5.000		03/01/34	777
	1,361		5.000		04/01/34	1,376
	1,771		5.000		05/01/34	1,787
	27,278		5.000		06/01/34	27,529
	651		5.000		11/01/34	658
	6,809		5.000		04/01/35	6,871
	2		5.000		11/01/35	2
	8,089		5.000		01/01/40	8,254

Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Obligations – (continued)
Federal Home Loan Mortgage Corp. – (continued)
$	5,559		4.000	%	06/01/40	$      5,412
	36,282		4.000		02/01/41	35,273
	3,076		4.000		11/01/41	2,980
						100,216
Government National Mortgage Association – 8.7%
	164,790		4.000		11/20/44	160,575
	15,469		4.000		05/20/45	15,074
	353,574		4.000		07/20/45	344,532
	246,363		4.000		01/20/46	239,909
	85,675		4.500		02/20/48	85,207
	28,369		4.500		03/20/48	28,170
	100,171		4.500		04/20/48	99,153
	224,244		4.500		05/20/48	221,615
	900,918		4.000		07/20/48	871,401
	314,466		4.500		08/20/48	310,189
	179,325		5.000		08/20/48	180,078
	910,016		4.000		09/20/48	878,334
	1,466,641		4.500		09/20/48	1,446,694
	205,657		5.000		09/20/48	206,520
	209,387		5.000		10/20/48	210,266
	833,843		5.000		11/20/48	837,345
	346,729		5.000		12/20/48	348,077
	1,128,474		4.500		01/20/49	1,112,069
	588,221		5.000		01/20/49	590,507
	306,033		4.500		02/20/49	301,488
	217,800		4.500		03/20/49	214,633
	334,465		5.000		03/20/49	335,765
	632,559		3.000		08/20/49	576,702
	487,652		4.500		10/20/49	480,715
	184,838		4.500		12/20/49	182,151
	2,054,475		3.000		03/20/50	1,873,606
	764,039		3.000		07/20/51	693,156
	378,841		2.500		09/20/51	327,410
	900,479		2.500		10/20/51	781,891
	564,341		2.500		11/20/51	489,668
	836,141		3.000		12/20/51	759,091
	2,719,214		2.500		12/20/51	2,355,650
	966,879		2.500		01/20/52	835,014
	13,232,516		4.500		10/20/52	12,912,296
	4,000,000		2.000		TBA-30yr(k)	3,387,648
	3,000,000		3.000		TBA-30yr(k)	2,717,905
	2,000,000		3.500		TBA-30yr(k)	1,862,876
	1,000,000		5.000		TBA-30yr(k)	993,928
	2,000,000		5.500		TBA-30yr(k)	2,012,407
	4,000,000		6.000		TBA-30yr(k)	4,065,412
	9,000,000		6.500		TBA-30yr(k)	9,211,210
						55,556,337
Uniform Mortgage-Backed Security – 11.5%
	149,780		4.500		07/01/36	148,926
	10,032		4.500		12/01/36	9,975
	4,350		4.500		05/01/38	4,336
	3,275		4.500		05/01/39	3,269
	2,800		4.500		05/01/39	2,793
	5,110		4.500		05/01/39	5,101
	7,612		4.500		06/01/39	7,598

GOLDMAN SACHS GLOBAL CORE FIXED INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Obligations – (continued)
Uniform Mortgage-Backed Security – (continued)
$	3,623		4.500	%	08/01/39	$      3,616
	4,978		4.500		09/01/39	4,959
	8,734		4.500		10/01/39	8,699
	3,679		4.500		03/01/40	3,664
	2,362		4.500		04/01/40	2,352
	44,711		4.500		04/01/40	44,521
	5,090		4.500		12/01/40	5,069
	40,357		4.500		01/01/41	40,186
	8,473		4.500		04/01/41	8,424
	5,813		4.500		04/01/41	5,780
	20,639		4.500		06/01/41	20,522
	22,409		4.500		07/01/41	22,281
	19,825		4.500		08/01/41	19,790
	14,447		4.500		08/01/41	14,365
	79,195		4.500		09/01/41	78,744
	11,530		4.500		09/01/41	11,465
	43,814		4.500		10/01/41	43,564
	57,847		4.500		11/01/41	57,518
	50,173		4.500		12/01/41	49,887
	17,145		4.500		01/01/42	17,047
	24,739		4.500		01/01/42	24,599
	3,221		4.500		03/01/42	3,236
	7,259		4.500		04/01/42	7,226
	3,218		4.500		04/01/42	3,203
	7,970		3.000		12/01/42	7,383
	12,749		3.000		12/01/42	11,768
	11,565		3.000		12/01/42	10,769
	15,574		3.000		12/01/42	14,402
	22,380		3.000		01/01/43	20,708
	15,867		3.000		01/01/43	14,573
	42,845		3.000		01/01/43	39,654
	12,487		3.000		01/01/43	11,486
	8,657		3.000		01/01/43	8,068
	8,313		3.000		01/01/43	7,646
	4,849		3.000		01/01/43	4,455
	25,971		3.000		04/01/43	23,957
	10,748		3.000		04/01/43	9,863
	17,371		3.000		04/01/43	15,974
	61,066		3.000		04/01/43	56,161
	49,127		3.000		04/01/43	45,163
	1,065,204		4.000		12/01/44	1,028,140
	203,757		4.500		06/01/45	202,197
	1,231,262		4.000		08/01/45	1,190,198
	1,640,013		4.000		08/01/45	1,585,830
	866,667		4.500		11/01/47	858,374
	2,586,525		4.000		01/01/48	2,496,221
	14,548		4.500		08/01/48	14,349
	258,440		4.500		09/01/48	256,210
	181,056		5.000		11/01/48	183,325
	848,079		3.000		02/01/49	767,035
	11,972		4.500		03/01/49	11,790
	94,786		3.500		07/01/49	88,516
	919,541		3.500		07/01/49	858,714
	859,800		4.000		07/01/49	828,070
	651,414		3.500		08/01/49	608,323
	400,888		4.500		10/01/50	395,299
	2,453,272		3.000		12/01/50	2,204,654
	149,426		2.500		03/01/51	129,410

Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Obligations – (continued)
Uniform Mortgage-Backed Security – (continued)
$	885,456		2.500	%	05/01/51	$    765,461
	1,768,853		2.500		05/01/51	1,518,670
	719,722		2.000		07/01/51	589,451
	942,645		2.000		08/01/51	771,807
	830,360		2.500		09/01/51	714,458
	1,673,021		2.500		09/01/51	1,439,500
	185,955		2.500		09/01/51	160,580
	741,350		2.500		10/01/51	639,725
	437,609		2.500		11/01/51	377,621
	339,239		2.500		11/01/51	292,736
	1,796,787		2.000		01/01/52	1,476,168
	519,944		2.500		01/01/52	441,997
	843,981		2.000		02/01/52	690,939
	199,455		2.500		02/01/52	169,974
	1,193,648		2.500		02/01/52	1,017,364
	273,861		2.500		02/01/52	232,760
	442,158		2.000		03/01/52	361,091
	544,204		2.500		03/01/52	462,686
	267,799		2.500		03/01/52	227,757
	938,551		4.500		04/01/52	910,376
	1,962,104		2.000		04/01/52	1,602,362
	1,070,333		2.000		04/01/52	874,093
	6,064,034		2.000		05/01/52	4,952,225
	61,301		5.000		05/01/52	61,495
	76,994		5.000		06/01/52	77,454
	1,045,818		5.000		06/01/52	1,052,064
	756,734		5.000		06/01/52	759,125
	436,132		2.000		06/01/52	356,695
	902,131		5.000		07/01/52	903,290
	31,819		5.000		07/01/52	31,989
	31,810		5.000		07/01/52	31,891
	48,603		5.000		07/01/52	48,863
	35,159		5.000		07/01/52	35,248
	1,422,283		5.000		07/01/52	1,430,777
	1,769,516		5.000		07/01/52	1,775,107
	884,345		5.000		08/01/52	885,205
	40,646		5.000		08/01/52	40,749
	17,754		5.000		08/01/52	17,849
	916,843		3.000		08/01/52	822,783
	977,749		2.000		09/01/52	799,662
	926,230		5.500		09/01/52	942,789
	381,141		2.500		09/01/52	324,151
	1,845,907		5.500		11/01/52	1,878,907
	1,414,111		6.000		11/01/52	1,466,604
	1,330,307		6.000		11/01/52	1,375,948
	1,805,902		6.000		12/01/52	1,862,217
	931,553		6.000		01/01/53	960,602
	467,120		2.500		02/01/53	397,275
	918,917		5.500		04/01/53	924,433
	5,871,094		4.500		05/01/53	5,767,215
	6,000,000		7.000		TBA-30yr(k)	6,188,207

GOLDMAN SACHS GLOBAL CORE FIXED INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Obligations – (continued)
Uniform Mortgage-Backed Security – (continued)
$	7,000,000		7.000	%	TBA-30yr(k)	$  7,217,387
						73,817,182
TOTAL FEDERAL AGENCIES						$129,473,735
TOTAL MORTGAGE-BACKED OBLIGATIONS (Cost $164,184,124)						$161,393,575
Asset-Backed Securities(a) –8.0%
Automotive – 1.4%
Bank of America Auto Trust Series 2023-2A, Class A2(b)
$	1,125,000		5.850	%	08/17/26	$  1,131,554
Ford Credit Auto Owner Trust Series 2023-C, Class A2A
	2,175,000		5.680		09/15/26	2,184,873
GM Financial Consumer Automobile Receivables Trust Series 2023-4, Class A2A
	1,475,000		5.890		11/16/26	1,483,046
GMF Floorplan Owner Revolving Trust Series 2023-1, Class A1(b)
	1,500,000		5.340		06/15/28	1,515,897
Mercedes-Benz Auto Receivables Trust Series 2023-2, Class A2
	200,000		5.920		11/16/26	201,509
Nissan Auto Receivables Owner Trust Series 2023-B, Class A3
	425,000		5.930		03/15/28	435,274
Santander Drive Auto Receivables Trust Series 2023-6, Class A2
	1,875,000		6.080		05/17/27	1,881,615
						8,833,768
Collateralized Loan Obligations(b) – 4.7%
AGL CLO 3 Ltd. Series 2020-3A, Class A(c) (3 mo. USD Term SOFR + 1.562%)
	2,100,000		6.956		01/15/33	2,100,376
Apidos CLO XXIII Ltd. Series 2015-23A, Class AR(c) (3 mo. USD Term SOFR + 1.482%)
	2,100,000		6.876		04/15/33	2,099,922
ARES LXIV CLO Ltd. Series 2022-64A, Class A1(c) (3 mo. USD Term SOFR + 1.440%)
	3,225,000		6.834		04/15/35	3,225,419
Elmwood CLO IV Ltd. Series 2020-1A, Class A(c) (3 mo. USD Term SOFR + 1.502%)
	5,300,000		6.896		04/15/33	5,300,678
Helios Issuer LLC Series 2023-GRID1, Class 1A
	172,172		5.750		12/20/50	175,765
JP Morgan Mortgage Trust Series 2023-HE3, Class A1(c) (30 day USD SOFR Average + 1.600%)
	670,000		6.937		05/25/54	670,000
Mountain View CLO LLC Series 2016-1A, Class AR(c) (3 mo. USD Term SOFR + 1.622%)
	1,800,000		7.016		04/14/33	1,789,294
Neuberger Berman Loan Advisers CLO 45 Ltd. Series 2021-45A, Class A(c) (3 mo. USD Term SOFR + 1.392%)
	740,000		6.786		10/14/35	739,966
New Mountain CLO 1 Ltd. Series CLO-1A, Class AR(c) (3 mo. USD Term SOFR + 1.462%)
	1,150,000		6.856		10/15/34	1,148,336

Principal Amount		Interest Rate			Maturity Date	Value
Asset-Backed Securities(a) – (continued)
Collateralized Loan Obligations(b) – (continued)
Oaktree CLO Ltd. Series 2021-1A, Class A1(c) (3 mo. USD Term SOFR + 1.422%)
$	5,000,000		6.816	%	07/15/34	$  4,997,515
OZLM XIV Ltd. Series 2015-14A, Class CRR(c) (3 mo. USD Term SOFR + 3.652%)
	1,700,000		9.046		07/15/34	1,699,859
Venture 36 CLO Ltd. Series 2019-36A, Class D(c) (3 mo. USD Term SOFR + 4.412%)
	900,000		9.827		04/20/32	845,562
Venture 39 CLO Ltd. Series 2020-39A, Class A1(c) (3 mo. USD Term SOFR + 1.542%)
	3,475,000		6.936		04/15/33	3,449,841
Voya CLO Ltd. Series 2019-1A, Class AR(c) (3 mo. USD Term SOFR + 1.322%)
	1,803,858		6.716		04/15/31	1,803,840
						30,046,373
Credit Card – 0.8%
Barclays Dryrock Issuance Trust Series 2023-1, Class A
	1,500,000		4.720		02/15/29	1,497,952
(30 day USD SOFR Average + 0.900%)
	2,600,000		6.227	(c)	08/15/28	2,603,507
Citibank Credit Card Issuance Trust Series 2023-A1, Class A1
	1,275,000		5.230		12/08/27	1,283,751
						5,385,210
Student Loan(b)(c) – 1.1%
ECMC Group Student Loan Trust Series 2017-1A, Class A (30 day USD SOFR Average + 1.314%)
	2,360,047		6.652		12/27/66	2,359,341
Navient Student Loan Trust Series 2017-2A, Class A (30 day USD SOFR Average + 1.164%)
	3,545,592		6.502		12/27/66	3,523,586
PHEAA Student Loan Trust Series 2016-1A, Class A (30 day USD SOFR Average + 1.264%)
	1,036,912		6.602		09/25/65	1,038,491
						6,921,418
TOTAL ASSET-BACKED SECURITIES (Cost $50,989,381)						$ 51,186,769
Agency Debentures – 0.2%
Sovereign – 0.2%
Federal Home Loan Mortgage Corp.
$	1,160,000		6.750	%	03/15/31	$  1,350,739
(Cost $1,364,161)
TOTAL AGENCY DEBENTURES (Cost $1,364,161)						$  1,350,739

GOLDMAN SACHS GLOBAL CORE FIXED INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Structured Note(b)(c) – 0.2%
Banks – 0.2%
JPMorgan Chase Bank NA
IDR	15,414,000,000		7.500	%	06/17/35	$  1,074,185
(Cost $1,109,967)
TOTAL STRUCTURED NOTES (Cost $1,109,967)						$  1,074,185
U.S. Treasury Obligations – 0.3%
U.S. Treasury Inflation-Indexed Bonds
$	2,008,016		1.500	%	02/15/53	$  1,827,696
(Cost $1,596,203)
Shares		Description				Value
Exchange Traded Funds – 0.1%
	3,755		Vanguard Intermediate-Term Corporate Bond ETF			$    305,206
(Cost $306,201)
Shares		Dividend Rate				Value
Investment Company(l) – 0.6%
Goldman Sachs Financial Square Government Fund — Institutional Shares
	3,881,647		5.248%			$  3,881,647
(Cost $3,881,647)
TOTAL INVESTMENTS BEFORE SHORT- TERM INVESTMENTS – 96.1% (Cost $632,672,031)						$615,562,440
Principal Amount		Interest Rate			Maturity Date	Value
Short-term Investments(e) – 4.7%
U.S. Treasury Obligations – 4.7%
U.S. Cash Management Bills
$	30,293,800		0.000	%	02/15/24	$ 30,161,025
(Cost $30,156,442)
TOTAL SHORT- TERM INVESTMENTS (Cost $30,156,442)						$ 30,161,025
TOTAL INVESTMENTS – 100.8% (Cost $662,828,473)						$645,723,465
LIABILITIES IN EXCESS OF  OTHER ASSETS – (0.8)%						(5,022,000)
NET ASSETS – 100.0%						$640,701,465

The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.
(a)	Security with “Call” features with resetting interest rates. Maturity dates disclosed are the final maturity dates.
(b)	Exempt from registration under Rule 144A of the Securities Act of 1933.
(c)	Variable rate security. Except for floating rate notes (for which final maturity is disclosed), maturity date disclosed is the next interest reset date. Interest rate disclosed is that which is in effect on December 31, 2023.
(d)	Guaranteed by a foreign government until maturity. Total market value of these securities amounts to $6,397,165, which represents approximately 1% of the Fund’s net assets as of December 31, 2023.
(e)	Issued with a zero coupon. Income is recognized through the accretion of discount.
(f)	Actual maturity date is September 20, 2117.
(g)	Actual maturity date is June 30, 2120.
(h)	Actual maturity date is July 28, 2121.
(i)	Security with a notional or nominal principal amount. The actual effective yield of this security is different than the stated interest rate.
(j)	Coupon changes periodically based upon a predetermined schedule. Interest rate disclosed is that which is in effect on December 31, 2023.
(k)	TBA (To Be Announced) Securities are purchased on a forward commitment basis with an approximate principal amount and no defined maturity date. The actual principal and maturity date will be determined upon settlement when the specific mortgage pools are assigned. Total market value of TBA securities (excluding forward sales contracts, if any) amounts to $37,656,980 which represents approximately 5.9% of net assets as of December 31, 2023.
(l)	Represents an affiliated Issuer.

GOLDMAN SACHS GLOBAL CORE FIXED INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS — At December 31, 2023, the Fund had the following forward foreign currency exchange contracts:

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS WITH UNREALIZED GAIN

Counterparty	Currency Purchased		Currency Sold			Settlement Date		Unrealized Gain
JPMorgan Securities, Inc.	AUD	663,000		JPY	62,194,770		03/21/24	$	6,139
	AUD	8,080,184		USD	5,382,383		03/20/24		137,191
	CAD	8,077,600		USD	6,022,716		03/20/24		80,054
	CHF	3,811,471		USD	4,379,850		03/20/24		189,780
	CNH	12,406,326		USD	1,749,000		03/20/24		1,863
	COP	1,614,629,165		USD	409,591		01/03/24		6,807
	EUR	4,346,583		GBP	3,753,197		03/20/24		28,070
	EUR	404,000		PLN	1,749,724		03/20/24		3,248
	EUR	2,751,532		USD	3,005,488		03/20/24		41,913
	GBP	3,195,522		USD	4,041,738		03/20/24		33,037
	ILS	903,094		USD	245,686		03/20/24		4,364
	JPY	1,157,354,795		USD	8,043,798		03/21/24		269,908
	KRW	1,134,889,920		USD	864,000		03/20/24		16,469
	MXN	2,698,000		USD	152,536		03/20/24		4,275
	NOK	23,856,072		USD	2,243,595		03/20/24		108,647
	NZD	2,034,569		USD	1,269,263		03/20/24		17,145
	PLN	9,917,885		USD	2,455,527		03/20/24		62,276
	SEK	50,675,446		USD	4,945,855		03/20/24		94,418
	SGD	3,137,696		USD	2,343,796		03/20/24		42,544
	TWD	51,161,848		USD	1,642,150		03/13/24		51,877
	USD	422,451		COP	1,614,629,165		01/03/24		6,053
	ZAR	8,016,163		USD	429,710		03/20/24		5,434
TOTAL								$	1,211,512

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS WITH UNREALIZED LOSS

Counterparty	Currency Purchased		Currency Sold		Settlement Date		Unrealized Loss
JPMorgan Securities, Inc.	CNH	6,437,955	USD	910,447		03/20/24	$	(1,880	)
	COP	1,614,629,165	USD	422,451		01/03/24		(6,053	)
	EUR	553,912	AUD	908,250		03/20/24		(6,951	)
	EUR	785,000	CHF	737,217		03/20/24		(14,451	)
	EUR	1,689,667	NOK	20,070,230		03/20/24		(107,597	)
	EUR	687,000	SEK	7,747,869		03/20/24		(9,745	)
	GBP	1,714,383	EUR	1,993,698		03/20/24		(21,981	)
	GBP	1,050,245	USD	1,343,233		03/20/24		(4,010	)
	NZD	658,294	AUD	611,045		03/20/24		(1,182	)
	SEK	20,257,350	USD	2,024,318		03/20/24		(9,484	)
	TRY	12,153,732	USD	383,519		03/20/24		(1,029	)
	USD	6,248,055	CAD	8,548,564		02/09/24		(207,054	)
	USD	6,187,450	CAD	8,320,750		03/20/24		(99,022	)
	USD	3,928,667	CHF	3,384,778		03/20/24		(129,394	)
	USD	4,955,985	CNH	35,422,915		03/20/24		(43,133	)
	USD	390,826	COP	1,614,629,165		01/03/24		(25,573	)
	USD	406,280	COP	1,614,629,165		02/07/24		(7,065	)
	USD	902,277	CZK	20,432,985		03/20/24		(9,473	)
	USD	76,989,336	EUR	70,971,903		02/14/24		(1,502,099	)
	USD	6,307,344	EUR	5,820,249		03/20/24		(138,749	)
	USD	17,153,212	GBP	14,106,898		01/10/24		(829,168	)
	USD	6,218,564	GBP	4,939,459		03/20/24		(79,995	)

GOLDMAN SACHS GLOBAL CORE FIXED INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS WITH UNREALIZED LOSS (continued)

Counterparty	Currency Purchased		Currency Sold			Settlement Date		Unrealized Loss
JPMorgan Securities, Inc. (continued)	USD	4,136,956		IDR	64,294,574,301		03/13/24	$	(38,574	)
	USD	1,169,186		ILS	4,339,183		02/22/24		(30,939	)
	USD	667,956		ILS	2,470,394		03/20/24		(16,051	)
	USD	26,757,103		JPY	3,927,525,557		01/16/24		(1,169,462	)
	USD	88,052,686		JPY	12,894,862,379		02/13/24		(4,025,696	)
	USD	8,060,602		JPY	1,130,057,849		03/21/24		(57,019	)
	USD	4,000,550		KRW	5,232,759,550		03/13/24		(57,583	)
	USD	529,989		KRW	691,731,334		03/20/24		(6,670	)
	USD	315,106		MXN	5,582,583		03/20/24		(9,360	)
	USD	165,553		NOK	1,813,194		03/20/24		(13,230	)
	USD	3,145,419		NZD	5,115,240		03/20/24		(88,821	)
	USD	411,768		PEN	1,556,646		02/20/24		(8,361	)
	USD	875,000		PLN	3,448,851		03/20/24		(542	)
	USD	4,820,715		SEK	50,407,424		03/20/24		(192,900	)
	USD	944,908		SGD	1,282,018		01/12/24		(27,073	)
	USD	879,000		SGD	1,166,375		03/20/24		(8,074	)
	USD	1,687,887		THB	59,760,138		03/20/24		(75,166	)
	USD	1,087,651		ZAR	20,929,715		03/20/24		(48,483	)
TOTAL								$	(9,129,092	)

FORWARD SALES CONTRACTS — At December 31, 2023, the Fund had the following forward sales contracts:

Description	Interest Rate			Maturity Date(a)		Settlement Date		Principal Amount		Value
Government National Mortgage
Association		2.500	%		TBA - 30yr		01/20/24	$	(2,000,000)	$	(1,751,938)
Government National Mortgage
Association		4.000			TBA - 30yr		01/20/24		(2,000,000)		(1,910,662)
Government National Mortgage
Association		4.500			TBA - 30yr		01/20/24		(17,000,000)		(16,596,561)
Uniform Mortgage-Backed Security		2.000			TBA - 30yr		01/01/24		(4,000,000)		(3,270,687)
Uniform Mortgage-Backed Security		4.500			TBA - 30yr		01/01/24		(7,000,000)		(6,791,091)
Uniform Mortgage-Backed Security		5.000			TBA - 30yr		01/01/24		(7,000,000)		(6,929,996)
Uniform Mortgage-Backed Security		4.000			TBA - 30yr		01/01/24		(3,000,000)		(2,839,217)
Uniform Mortgage-Backed Security		5.500			TBA - 30yr		01/01/24		(3,000,000)		(3,014,767)
(PROCEEDS RECEIVABLE: $(42,395,352))										$	(43,104,919)

(a) TBA (To Be Announced) Securities are purchased on a forward commitment basis with an approximate principal amount and no defined maturity date. The actual principal and maturity date will be determined upon settlement when the specific mortgage pools are assigned.

FUTURES CONTRACTS — At December 31, 2023, the Fund had the following futures contracts:

Description	Number of Contracts	Expiration Date	Notional Amount		Unrealized Appreciation/ (Depreciation)
Long position contracts:
10 Year U.K. Long Gilt	67	03/26/24	$	8,766,470	$	614,193
10 Year U.S. Treasury Notes	19	03/19/24		2,144,922		(1,622	)
20 Year U.S. Treasury Bonds	87	03/19/24		10,869,562		81,085
30 Year German Euro-Buxl	45	03/07/24		7,040,332		450,009
5 Year German Euro-Bund	25	03/07/24		3,787,101		96,004

GOLDMAN SACHS GLOBAL CORE FIXED INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

FUTURES CONTRACTS (continued)

Description	Number of Contracts	Expiration Date	Notional Amount			Unrealized Appreciation/ (Depreciation)
Long position contracts:
5 Year U.S. Treasury Notes	229	03/28/24	$	24,909,117		$	235,841
Australian 10 Year Government Bonds	58	03/15/24		4,611,108			124,036
Australian 3 Year Government Bonds	85	03/15/24		6,189,412			51,328
Canada 10 Year Government Bonds	179	03/19/24		16,775,382			655,060
Euro BTP	18	03/07/24		2,367,642			71,706
Euro-Bobl	66	03/07/24		8,690,826			110,490
Euro-Schatz	122	03/07/24		14,349,685			67,148
French 10 Year Government Bonds	72	03/07/24		10,452,995			281,361
Ultra Long U.S. Treasury Bonds	148	03/19/24		19,771,875			982,448
Total						$	3,819,087
Short position contracts:
2 Year U.S. Treasury Notes	(88)	03/28/24		(18,120,437	)		(80,734	)
Ultra 10-Year U.S. Treasury Note	(25)	03/19/24		(2,950,391	)		(131,297	)
Total						$	(212,031	)
TOTAL FUTURES CONTRACTS						$	3,607,056

SWAP CONTRACTS — At December 31, 2023, the Fund had the following swap contracts:

OVER THE COUNTER INTEREST RATE SWAP CONTRACTS

Payments Made by the Fund	Payments Received by the Fund	Counterparty	Termination Date		Notional Amount (000s)(a)		Value			Upfront Payments (Received) Paid			Unrealized Appreciation/ (Depreciation)
3M KLIBOR(b)	3.271%(b)	BofA Securities LLC		12/21/31	MYR	1,540	$	(11,897	)	$	—		$	(11,897	)
3M KLIBOR(b)	3.735(b)	Citibank NA		07/14/32		1,950		(1,731	)		—			(1,731	)
3M KLIBOR(b)	3.750(b)	Citibank NA		12/21/32		3,450		(3,637	)		(43,281	)		39,644
3M KLIBOR(b)	3.680(b)	MS & Co. Int. PLC		07/12/32		1,940		(3,504	)		—			(3,504	)
TOTAL							$	(20,769	)	$	(43,281	)	$	22,512

(a) Represents forward starting interest rate swaps whose effective dates of commencement of accruals and cash flows occur subsequent to December 31, 2023.

(b) Payments made quarterly.

CENTRALLY CLEARED INTEREST RATE SWAP CONTRACTS

Payments Made by the Fund	Payments Received by Fund	Termination Date	Notional Amount (000s)(a)		Market Value			Upfront Premium (Received) Paid			Unrealized Appreciation/ (Depreciation)
1M BID Average(b)	11.814%(b)	01/02/24	BRL	20,820	$	(58,781)		$	(3,155	)	$	(55,626	)
12.795%(c)	12M BID Average(c)	01/02/24		19,730		22,325			—			22,325
12M BID Average(c)	13.950(c)	01/02/24		6,380		8,788			(21,851	)		30,639
3M EURO(d)	1.750(e)	09/21/24	EUR	2,880		(31,235	)		(7,024	)		(24,211	)
12M BID Average(c)	12.060(c)	01/02/25	BRL	9,890		2,389			216,931			(214,542	)
12M BID Average(c)	12.063(c)	01/02/25		11,420		24,201			249,499			(225,298	)
13.300(c)	12M BID Average(c)	01/02/25		7,340		(41,032	)		(210,707	)		169,675
10.950(c)	1M BID Average(c)	01/02/25		530		2,610			(9,851	)		12,461

GOLDMAN SACHS GLOBAL CORE FIXED INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

CENTRALLY CLEARED INTEREST RATE SWAP CONTRACTS (continued)

Payments Made by the Fund	Payments Received by Fund	Termination Date	Notional Amount (000s)(a)		Market Value			Upfront Premium (Received) Paid			Unrealized Appreciation/ (Depreciation)
3M EURO(d)	3.720%(b)	03/18/25	EUR	57,480	$	441,806		$	(82,977	)	$	524,783
12M GBP(b)	5.500(b)	03/20/25	GBP	9,530		131,327			81,797			49,530
12M BID Average(c)	10.850(c)	01/02/26	BRL	38,810		84,966			11,954			73,012
Mexico Interbank TIIE 28 Days(c)	9.500(c)	03/18/26	MXN	15,820		3,084			3,148			(64	)
1.250%(e)	12M CHFOR(e)	03/20/26	CHF	62,980		(286,867	)		(316,807	)		29,940
3.000(e)	12M EURO(e)	03/20/26	EUR	97,990		(1,410,800	)		(1,332,391	)		(78,409	)
4M CNRR(d)	2.000(d)	03/20/26	CNY	108,490		(3,618	)		(53,649	)		50,031
3M STIBOR(d)	3.500(e)	03/20/26	SEK	674,100		1,081,743			697,528			384,215
3M KWCDC(d)	3.750(d)	03/20/26	KRW	8,200,110		76,603			(3,478	)		80,081
12M CDOR(f)	3.750(f)	03/20/26	CAD	26,210		58,742			(25,900	)		84,642
3.750(d)	3M AUDOR(d)	03/20/26	AUD	49,910		26,985			208,231			(181,246	)
12M SOFR(e)	4.000(e)	03/20/26	$	24,600		84,159			24,380			59,779
6M NIBOR(f)	4.250(e)	03/20/26	NOK	317,990		307,524			238,209			69,315
12M GBP(e)	5.250(e)	03/20/26	GBP	56,360		1,982,699			1,414,119			568,580
3M JIBAR(d)	8.000(d)	03/20/26	ZAR	59,850		19,922			20,458			(536	)
12M JYOR(e)	0.500(e)	08/02/26	JPY	2,099,120		47,467			15,629			31,838
11.230(c)	12M BID Average(c)	01/04/27	BRL	740		(2,500	)		1,447			(3,947	)
13.030(b)	12M BID Average(b)	01/04/27		2,379		(33,204	)		—			(33,204	)
10.286(c)	12M BID Average(c)	01/04/27		8,240		(15,362	)		—			(15,362	)
12M BID Average(c)	8.495(c)	01/04/27		2,060		(30,564	)		(37,319	)		6,755
12M GBP(e)	5.000(e)	03/20/27	GBP	6,510		342,749			193,389			149,360
12M SOFR(e)	3.350(e)	10/06/27	$	66,060		309,676			(29,423	)		339,099
6M EURO(f)	3.000(e)	10/20/27	EUR	30,150		565,414			(207,162	)		772,576
12M SOFR(e)	3.730(e)	11/28/27	$	13,390		153,816			64,670			89,146
3.000(e)	6M EURO(f)	03/20/28	EUR	1,680		(44,741	)		(24,888	)		(19,853	)
12M EURO(e)	2.673(e)	04/22/28		27,720		706,013			103,605			602,408
2.852(e)	3M EURO(d)	04/22/28		27,720		(691,046	)		(88,873	)		(602,173	)
0.500(e)	12M JYOR(e)	08/03/28	JPY	4,371,290		94,008			(43,410	)		137,418
12M SOFR(e)	3.696(e)	09/22/28	$	56,690		561,089			(120,467	)		681,556
12M EURO(e)	2.500(e)	10/19/28	EUR	16,840		316,550			117,730			198,820
11.500(c)	12M BID Average(c)	01/02/29	BRL	8,710		(80,088	)		(33,182	)		(46,906	)
3.250(f)	12M CDOR(f)	03/20/29	CAD	6,050		(50,422	)		10,128			(60,550	)
1.250(e)	12M CHFOR(e)	03/20/29	CHF	2,880		(35,300	)		(30,488	)		(4,812	)
2.750(e)	12M EURO(e)	03/20/29	EUR	3,280		(110,414	)		(67,736	)		(42,678	)
4.750(e)	12M GBP(e)	03/20/29	GBP	5,900		(500,114	)		(287,001	)		(213,113	)
4M CNRR(d)	2.500(d)	03/20/29	CNY	459,930		644,882			153,657			491,225
12M THOR(d)	2.750(d)	03/20/29	THB	38,370		22,804			7,820			14,984
3M KWCDC(d)	3.750(d)	03/20/29	KRW	2,145,690		61,474			13,878			47,596
6M NIBOR(f)	3.750(e)	03/20/29	NOK	69,320		126,466			109,806			16,660
8.500(d)	3M JIBAR(d)	03/20/29	ZAR	37,400		(35,766	)		(36,855	)		1,089
12M SOFR(e)	4.250(e)	03/20/29	$	20,530		765,293			651,445			113,848
4.000(f)	6M AUDOR(f)	03/20/29	AUD	8,650		(23,111	)		101,481			(124,592	)
3.000(e)	6M EURO(f)	03/20/29	EUR	3,630		(120,881	)		(95,966	)		(24,915	)
0.500(e)	12M JYOR(e)	03/21/29	JPY	10,588,000		43,051			789,483			(746,432	)
12M GBP(e)	4.500(e)	03/20/31	GBP	6,130		618,602			344,027			274,575
3.000(e)	6M EURO(f)	03/20/31	EUR	1,000		(43,482	)		(35,695	)		(7,787	)
2.680(e)	12M SOFR(e)	07/28/32	$	14,780		372,654			209,644			163,010
4.250(e)	12M GBP(e)	03/20/33	GBP	3,390		(339,262	)		(169,677	)		(169,585	)
12M JYOR(e)	1.250(e)	08/02/33	JPY	900,220		14,799			57			14,742
1.250(e)	12M JYOR(e)	08/03/33		1,110,000		(18,117	)		(60,364	)		42,247
12M SOFR(e)	4.306(e)	10/05/33	$	23,010		826,950			2,432			824,518
6M EURO(f)	3.000(e)	11/10/33	EUR	22,790		476,864			299,054			177,810

GOLDMAN SACHS GLOBAL CORE FIXED INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

CENTRALLY CLEARED INTEREST RATE SWAP CONTRACTS (continued)

Payments Made by the Fund	Payments Received by Fund	Termination Date		Notional Amount (000s)(a)		Market Value			Upfront Premium (Received) Paid			Unrealized Appreciation/ (Depreciation)
12M SOFR(e)	3.500%(e)		12/20/33	$	350	$	751		$	1,796		$	(1,045	)
Mexico Interbank TIIE
28 Days(c)	9.000(c)		03/08/34	MXN	1,320		3,318			3,113			205
12M CHFOR(e)	1.500(e)		03/20/34	CHF	5,820		221,249			200,187			21,062
3.250%(f)	12M CDOR(f)		03/20/34	CAD	2,730		(37,938	)		13,974			(51,912	)
12M EURO(e)	2.750(e)		03/20/34	EUR	3,040		148,566			87,155			61,411
6M EURO(f)	3.000(e)		03/20/34		4,420		233,351			208,371			24,980
3M KWCDC(d)	3.750(d)		03/20/34	KRW	8,196,630		438,638			230,048			208,590
3.000(e)	3M STIBOR(d)		03/20/34	SEK	71,320		(430,376	)		(262,472	)		(167,904	)
6M AUDOR(f)	4.250(f)		03/20/34	AUD	3,130		11,727			(72,783	)		84,510
12M GBP(e)	4.250(e)		03/20/34	GBP	710		75,949			38,357			37,592
12M SOFR(e)	4.250(e)		03/20/34	$	10,130		704,750			644,404			60,346
3M NZDOR(d)	4.750(f)		03/20/34	NZD	4,580		150,710			5,296			145,414
6M WIBOR(f)	5.000(e)		03/20/34	PLN	5,180		58,846			55,713			3,133
3.750(e)	6M NIBOR(f)		03/20/34	NOK	10,670		(41,290	)		(28,216	)		(13,074	)
3M JIBAR(d)	9.500(d)		03/20/34	ZAR	7,690		9,120			4,956			4,164
1.000(e)	12M JYOR(e)		03/21/34	JPY	829,000		(65,088	)		62,160			(127,248	)
3.240(e)	12M SOFR(e)		10/06/35	$	15,170		98,197			(188,029	)		286,226
4.250(e)	12M GBP(e)		03/20/36	GBP	1,390		(164,222	)		(82,467	)		(81,755	)
3.781(e)	12M SOFR(e)		09/22/36	$	12,780		(402,505	)		189,730			(592,235	)
12M SOFR(e)	2.910(e)		07/28/37		37,860		(828,177	)		(527,965	)		(300,212	)
6M EURO(f)	2.152(e)		08/09/37	EUR	18,040		(441,947	)		(782,565	)		340,618
12M SOFR(e)	3.391(e)		05/10/38	$	44,120		(265,143	)		(463,954	)		198,811
12M JYOR(e)	1.500(e)		08/03/38	JPY	1,203,000		(62,790	)		(90,951	)		28,161
1.451(e)	6M EURO(f)		08/10/42	EUR	46,140		1,684,253			1,384,505			299,748
12M GBP(e)	4.250(e)		03/20/44	GBP	950		150,856			77,769			73,087
2.750(e)	6M EURO(f)		03/20/44	EUR	350		(16,355	)		(11,153	)		(5,202	)
2.080(e)	12M SOFR(e)		07/28/47	$	37,570		853,729			587,457			266,272
6M EURO(f)	1.051(e)		08/11/47	EUR	27,020		(835,010	)		(613,250	)		(221,760	)
2.564(e)	12M SOFR(e)		05/11/53	$	37,550		399,145			391,336			7,809
2.000(e)	6M EURO(f)		05/17/53	EUR	8,400		29,105			75,500			(46,395	)
2.500(e)	6M EURO(f)		11/10/53		10,160		(487,872	)		(353,980	)		(133,892	)
3.613(e)	12M SOFR(e)		11/15/53	$	12,280		(529,953	)		(81,483	)		(448,470	)
3.512(e)	12M SOFR(e)		11/29/53		4,230		(152,675	)		(75,936	)		(76,739	)
12M GBP(e)	4.000(e)		03/20/54	GBP	720		113,225			47,190			66,035
2.500(e)	6M EURO(f)		03/20/54	EUR	1,950		(88,957	)		(57,409	)		(31,548	)
12M GBP(e)	3.000(e)		12/21/62	GBP	470		(33,963	)		3,695			(37,658	)
TOTAL						$	7,925,011		$	3,539,439		$	4,385,572

(a) Represents forward starting interest rate swaps whose effective dates of commencement of accruals and cash flows occur subsequent to December 31, 2023.

(b) Payments made at maturity.

(c) Payments made at monthly.

(d) Payments made quarterly.

(e) Payments made annually.

(f) Payments made semi-annually.

GOLDMAN SACHS GLOBAL CORE FIXED INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

OVER THE COUNTER CREDIT DEFAULT SWAP CONTRACTS

Reference Obligation/Index	Financing Rate Paid by the Fund(a)		Credit Spread at December 31, 2023(b)		Counterparty	Termination Date		Notional Amount (000s)		Value			Upfront Premiums (Received) Paid			Unrealized Appreciation/ (Depreciation)
Protection Sold:
CMBX.NA.AAA.16		0.500%		0.766%	MS & Co. Int. PLC		04/17/65	$	10,500	$	(185,337	)	$	(207,931	)	$	22,594
TOTAL										$	(185,337	)	$	(207,931	)	$	22,594

(a) Payments made monthly.

(b) Credit spread on the referenced obligation, together with the term of the swap contract, are indicators of payment/performance risk. The likelihood of a credit event occurring which would require a fund or its counterparty to make a payment or otherwise be required to perform under the swap contract is generally greater as the credit spread and the term of the swap contract increase.

CENTRALLY CLEARED CREDIT DEFAULT SWAP CONTRACTS

Referenced Obligation/Index	Financing Rate Received/(Paid) by the Fund(a)		Credit Spread at December 31, 2023(b)		Termination Date		Notional Amount (000s)		Value			Upfront Premiums (Received) Paid			Unrealized Appreciation/ (Depreciation)
Protection Purchased:
BASF SE		(1.000)%		0.454%		06/20/28	EUR	1,050	$	(27,254	)	$	(16,359	)	$	(10,895	)
Continental AG		(1.000)		0.907		12/20/28		1,424		(7,315	)		692			(8,007	)
Next Group PLC		(1.000)		0.614		06/20/28		900		(16,544	)		3,988			(20,532	)
Protection Sold:
CDX.NA.IG Index 34		1.000		0.220		06/20/25	$	3,125		35,912			16,304			19,608
CDX.NA.IG Index 40		1.000		0.507		06/20/28		8,143		166,441			118,113			48,328
CDX.NA.IG Index 41		1.000		0.565		12/20/28		3,518		69,728			34,316			35,412
Republic of Indonesia, 4.125%, 01/15/25		1.000		0.701		12/20/28		1,740		23,925			11,397			12,528
Republic of Peru, 8.750%, 11/21/2033		1.000		0.701		12/20/28		1,150		15,929			8,848			7,081
Unibail-Rodamco-Westfield SE, 1.375%, 03/09/26		1.000		0.338		06/20/24	EUR	1,200		4,618			2,142			2,476
United Mexican States, 4.150%, 03/28/27		1.000		0.880		12/20/28	$	1,560		8,955			(16,374	)		25,329
TOTAL									$	274,395		$	163,067		$	111,328

(a) Payments made quarterly.

(b) Credit spread on the referenced obligation, together with the term of the swap contract, are indicators of payment/performance risk. The likelihood of a credit event occurring which would require a fund or its counterparty to make a payment or otherwise be required to perform under the swap contract is generally greater as the credit spread and the term of the swap contract increase.

GOLDMAN SACHS GLOBAL CORE FIXED INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

PURCHASED AND WRITTEN OPTIONS CONTRACTS — At December 31, 2023, the Fund had the following purchased and written options:

OVER-THE-COUNTER INTEREST RATE SWAPTIONS

Description	Counterparty	Exercise Rate		Expiration Date		Number of Contracts			Notional Amount			Market Value			Premiums Paid (Received) by Fund			Unrealized Appreciation/ (Depreciation)
Purchased option contracts
Calls
3M IRS	MS & Co. Int. PLC		3.425%		03/13/2024		38,300,000		$	38,300,000		$	14,799		$	41,260		$	(26,461	)
3M IRS	MS & Co. Int. PLC		3.800		03/13/2024		76,600,000			76,600,000			6,139			22,505			(16,366	)
							114,900,000		$	114,900,000		$	20,938		$	63,765		$	(42,827	)
Puts
3M IRS	Citibank NA		4.050		02/05/2024		18,390,000			18,390,000			130			3,607			(3,477	)
3M IRS	Citibank NA		3.700		02/05/2024		18,390,000			18,390,000			1,129			21,263			(20,134	)
3M IRS	Citibank NA		3.750		02/05/2024		18,390,000			18,390,000			824			16,327			(15,503	)
3M IRS	Citibank NA		4.000		02/05/2024		18,390,000			18,390,000			175			4,557			(4,382	)
							73,560,000		$	73,560,000		$	2,258		$	45,754		$	(43,496	)
Total purchased option contracts							188,460,000		$	188,460,000		$	23,196		$	109,519		$	(86,323	)
Written option contracts
Calls
6M IRS	Citibank NA		3.720		03/14/2024		(32,470,000	)		(32,470,000	)		(253,860	)		(73,784	)		(180,076	)
6M IRS	Citibank NA		3.744		03/14/2024		(32,470,000	)		(32,470,000	)		(261,803	)		(71,829	)		(189,974	)
1M IRS	JPMorgan Securities, Inc.		2.378		01/29/2024		(3,800,000	)		(3,800,000	)		(26,397	)		(42,205	)		15,808
1M IRS	MS & Co. Int. PLC		3.835		01/11/2024		(3,800,000	)		(3,800,000	)		(122,925	)		(45,790	)		(77,135	)
1M IRS	MS & Co. Int. PLC		3.550		01/18/2024		(3,850,000	)		(3,850,000	)		(52,242	)		(42,831	)		(9,411	)
1M IRS	MS & Co. Int. PLC		3.392		01/29/2024		(3,800,000	)		(3,800,000	)		(32,602	)		(42,370	)		9,768
2M IRS	MS & Co. Int. PLC		3.948		01/03/2024		(3,700,000	)		(3,700,000	)		(150,784	)		(40,422	)		(110,362	)
3M IRS	MS & Co. Int. PLC		3.650		03/13/2024		(114,900,000	)		(114,900,000	)		(17,327	)		(55,013	)		37,686
1M IRS	UBS AG (London)		2.660		01/15/2024		(3,810,000	)		(3,810,000	)		(10,857	)		(39,800	)		28,943
1M IRS	UBS AG (London)		2.431		01/22/2024		(3,840,000	)		(3,840,000	)		(28,402	)		(39,462	)		11,060
							(206,440,000	)	$	(206,440,000	)	$	(957,199	)	$	(493,506	)	$	(463,693	)
Puts
3M IRS	Citibank NA		3.900		02/05/2024		(36,780,000	)		(36,780,000	)		(646	)		(14,429	)		13,783
3M IRS	Citibank NA		3.850		02/05/2024		(36,780,000	)		(36,780,000	)		(881	)		(19,688	)		18,807
6M IRS	Citibank NA		3.720		03/14/2024		(32,470,000	)		(32,470,000	)		(3,645	)		(73,784	)		70,139
6M IRS	Citibank NA		3.744		03/14/2024		(32,470,000	)		(32,470,000	)		(3,298	)		(71,829	)		68,531
1M IRS	JPMorgan Securities, Inc.		2.378		01/29/2024		(3,800,000	)		(3,800,000	)		(63,988	)		(42,205	)		(21,783	)
1M IRS	MS & Co. Int. PLC		3.835		01/11/2024		(3,800,000	)		(3,800,000	)		(2,014	)		(45,790	)		43,776
1M IRS	MS & Co. Int. PLC		3.550		01/18/2024		(3,850,000	)		(3,850,000	)		(20,556	)		(42,831	)		22,275
1M IRS	MS & Co. Int. PLC		3.392		01/29/2024		(3,800,000	)		(3,800,000	)		(49,804	)		(42,370	)		(7,434	)
2M IRS	MS & Co. Int. PLC		3.948		01/03/2024		(3,700,000	)		(3,700,000	)		(1	)		(40,423	)		40,422
1M IRS	UBS AG (London)		2.660		01/15/2024		(3,810,000	)		(3,810,000	)		(75,331	)		(39,800	)		(35,531	)
1M IRS	UBS AG (London)		2.431		01/22/2024		(3,840,000)			(3,840,000	)		(47,949	)		(39,462	)		(8,487	)
							(165,100,000	)	$	(165,100,000	)	$	(268,113	)	$	(472,611	)	$	204,498
Total written option contracts							(371,540,000	)	$	(371,540,000	)	$	(1,225,312	)	$	(966,117	)	$	(259,195	)
TOTAL							(183,080,000	)	$	(183,080,000	)	$	(1,202,116	)	$	(856,598	)	$	(345,518	)

GOLDMAN SACHS GLOBAL CORE FIXED INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

Currency Abbreviations:
AUD	— Australian Dollar
BRL	— Brazil Real
CAD	— Canadian Dollar
CHF	— Swiss Franc
CNH	— Chinese Yuan Renminbi Offshore
CNY	— Chinese Yuan Renminbi
COP	— Colombia Peso
CZK	— Czech Republic Koruna
EUR	— Euro
GBP	— British Pound
IDR	— Indonesia Rupiah
ILS	— Israeli Shekel
JPY	— Japanese Yen
KRW	— South Korean Won
MXN	— Mexican Peso
MYR	— Malaysia Ringgit
NOK	— Norwegian Krone
NZD	— New Zealand Dollar
PEN	— Peru Nuevo Sol
PLN	— Polish Zloty
RON	— Romania New Leu
SEK	— Swedish Krona
SGD	— Singapore Dollar
THB	— Thailand Baht
TRY	— Turkish Lira
TWD	— Taiwan Dollar
USD	— U. S. Dollar
ZAR	— South African Rand
Investment Abbreviations:
CLO	— Collateralized Loan Obligation
CMT	— Constant Maturity Treasury Indexes
ETF	— Exchange Traded Fund
EURIBOR	— Euro Interbank Offered Rate
ICE	— Inter-Continental Exchange
LIBOR	— London Interbank Offered Rate
LLC	— Limited Liability Company
LP	— Limited Partnership
MTA	— Monthly Treasury Average
PLC	— Public Limited Company
REIT	— Real Estate Investment Trust
REMICS	— Real Estate Mortgage Investment Conduits
SOFR	— Secured Overnight Financing Rate
STACR	— Structured Agency Credit Risk
USD	— U. S. Dollar

Abbreviations:
1M IRS	— 1 Month Interest Rate Swaptions
2M IRS	— 2 Months Interest Rate Swaptions
3M IRS	— 3 Months Interest Rate Swaptions
6M IRS	— 6 Months Interest Rate Swaptions
AUDOR	— Australian Dollar Offered Rate
BofA Securities	— Bank of America Securities LLC
CDOR	— Canadian Dollar Offered Rate
CDX.NA.IG Ind 34	— CDX North America Investment Grade Index 34
CDX.NA.IG Ind 40	— CDX North America Investment Grade Index 40
CDX.NA.IG Ind 41	— CDX North America Investment Grade Index 41
CHFOR	— Swiss Franc Offered Rate
EURO	— Euro Offered Rate
JIBAR	— Johannesburg Interbank Agreed Rate
JYOR	— Japanese Yen Offered Rate
KLIBOR	— Kuala Lumpur Interbank Offered Rate
KWCDC	— South Korean Won Certificate of Deposit
MS & Co. Int. PLC	— Morgan Stanley & Co. International PLC
NIBOR	— Norwegian Interbank Offered Rate
NZDOR	— New Zealand Dollar Offered Rate
SOFR	— Secured Overnight Financing Rate
STIBOR	— Stockholm Interbank Offered Rate
TIIE	— La Tasa de Interbank Equilibrium Interest Rate
WIBOR	— Warsaw Interbank Offered Rate

GOLDMAN SACHS INCOME FUND

Schedule of Investments

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – 79.1%
Aerospace & Defense – 1.0%
Boeing Co.(a)
$	90,000		5.150	%	05/01/30	$     91,631
	25,000		3.250		02/01/35	21,108
	90,000		5.805		05/01/50	93,345
Howmet Aerospace, Inc.
	180,000		5.950		02/01/37	188,255
TransDigm, Inc.(a)
	105,000		5.500		11/15/27	103,074
	30,000		4.625		01/15/29	28,129
	220,000		4.875		05/01/29	205,999
Triumph Group, Inc.(a)
	220,000		7.750		08/15/25	219,683
						951,224
Agriculture – 0.2%
MHP Lux SA
	200,000		6.950		04/03/26	154,000
Airlines(b) – 0.8%
Allegiant Travel Co.(a)
	110,000		7.250		08/15/27	108,140
American Airlines, Inc./AAdvantage Loyalty IP Ltd.
	280,000		5.750		04/20/29	273,117
Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets Ltd.(a)
	82,600		6.500		06/20/27	82,836
United Airlines, Inc.(a)
	255,000		4.375		04/15/26	248,707
						712,800
Automotive – 2.0%
Dealer Tire LLC/DT Issuer LLC(a)(b)
	575,000		8.000		02/01/28	570,101
Ford Motor Co.
	185,000		4.750		01/15/43	152,821
Ford Motor Credit Co. LLC(a)
	235,000		4.950		05/28/27	229,435
General Motors Co.(a)
	135,000		6.125		10/01/25	136,744
General Motors Financial Co., Inc.(a)
	365,000		5.650		01/17/29	373,611
Hyundai Capital America(a)(b)
	370,000		6.200		09/21/30	389,558
						1,852,270
Banks – 16.9%
Banco do Brasil SA(a)(c) (10 yr. CMT + 4.398%)
	400,000		6.250		04/15/24	388,672
Banco Mercantil del Norte SA(a)(c) (10 yr. CMT + 5.353%)
	400,000		7.625		01/10/28	384,600
Banco Santander SA
	600,000		2.749		12/03/30	498,240
	400,000		6.921		08/08/33	426,700
Bank of America Corp.(a)(c)
(3 mo. USD Term SOFR + 1.252%)
	345,000		2.496		02/13/31	296,507
(3 mo. USD Term SOFR + 1.332%)
	285,000		3.970		03/05/29	272,203

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Banks – (continued)
Bank of America Corp.(a)(c) – (continued)
(3 mo. USD Term SOFR + 1.572%)
$	340,000		4.271	%	07/23/29	$    328,097
(Secured Overnight Financing Rate + 1.220%)
	415,000		2.651		03/11/32	350,716
(Secured Overnight Financing Rate + 1.530%)
	470,000		1.898		07/23/31	383,891
(Secured Overnight Financing Rate + 1.630%)
	150,000		5.202		04/25/29	150,915
(Secured Overnight Financing Rate + 2.150%)
	515,000		2.592		04/29/31	443,528
Bank of New York Mellon Corp.(a)(c) (Secured Overnight Financing Rate + 1.755%)
	15,000		4.596		07/26/30	14,920
Barclays PLC(a)
	250,000		4.337		01/10/28	242,873
(Secured Overnight Financing Rate + 2.714%)
	225,000		2.852	(c)	05/07/26	217,193
BBVA Bancomer SA(a)(c) (5 yr. CMT + 2.650%)
	200,000		5.125		01/18/33	180,416
BNP Paribas SA(a)(b)(c) (Secured Overnight Financing Rate + 1.004%)
	200,000		1.323		01/13/27	184,464
Citigroup, Inc.
	635,000		4.125		07/25/28	610,025
(Secured Overnight Financing Rate + 1.422%)
	370,000		2.976	(a)(c)	11/05/30	329,825
Fifth Third Bancorp(a)(c) (Secured Overnight Financing Rate Index + 2.127%)
	350,000		4.772		07/28/30	343,301
Freedom Mortgage Corp.(a)(b)
	275,000		7.625		05/01/26	271,639
HSBC Holdings PLC(a)(c) (Secured Overnight Financing Rate + 1.538%)
	200,000		1.645		04/18/26	190,084
Itau Unibanco Holding SA(a)(c) (5 yr. CMT + 3.981%)
	200,000		7.721		06/12/24	197,856
JPMorgan Chase & Co.(a)(c)
(3 mo. USD Term SOFR + 1.207%)
	285,000		3.509		01/23/29	269,807
(3 mo. USD Term SOFR + 2.515%)
	335,000		2.956		05/13/31	294,676
(3 mo. USD Term SOFR + 3.125%)
	2,220,000		4.600		02/01/25	2,138,482
M&T Bank Corp.(a)(c) (Secured Overnight Financing Rate + 1.850%)
	475,000		5.053		01/27/34	450,005
Macquarie Bank Ltd.(a)(b)(c) (5 yr. CMT + 1.700%)
	635,000		3.052		03/03/36	514,140
Morgan Stanley(a)(c)
(3 mo. USD Term SOFR + 1.890%)
	280,000		4.431		01/23/30	272,754
(Secured Overnight Financing Rate + 1.034%)
	405,000		1.794		02/13/32	323,154
(Secured Overnight Financing Rate + 1.143%)
	750,000		2.699		01/22/31	656,977
(Secured Overnight Financing Rate + 1.590%)
	125,000		5.164		04/20/29	125,584

GOLDMAN SACHS INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Banks – (continued)
Morgan Stanley(a)(c) – (continued)
(Secured Overnight Financing Rate + 1.610%)
$	150,000		4.210	%	04/20/28	$    146,550
NatWest Group PLC(a)(c) (3 mo. USD LIBOR + 1.762%)
	225,000		4.269		03/22/25	224,199
PNC Financial Services Group, Inc.(a)(c) (5 yr. CMT + 3.238%)
	510,000		6.200		09/15/27	498,183
Popular, Inc.(a)
	98,000		7.250		03/13/28	100,807
Truist Financial Corp.(a)(c)
(1 yr. CMT + 4.349%)
	561,000		5.100		03/01/30	512,013
(Secured Overnight Financing Rate + 2.050%)
	25,000		6.047		06/08/27	25,449
Turkiye Vakiflar Bankasi TAO(b)
	200,000		6.500		01/08/26	197,563
UBS Group AG
	250,000		4.550		04/17/26	246,623
(1 yr. CMT + 1.100%)
	435,000		2.746	(a)(b)(c)	02/11/33	356,182
(5 yr. CMT + 4.745%)
	200,000		9.250	(a)(b)(c)	11/13/28	215,500
Wells Fargo & Co.
	230,000		4.300		07/22/27	225,218
	95,000		4.150	(a)	01/24/29	92,422
(5 yr. CMT + 3.606%)
	400,000		7.625	(a)(c)	09/15/28	419,304
(Secured Overnight Financing Rate + 2.100%)
	390,000		4.897	(a)(c)	07/25/33	380,180
Yapi ve Kredi Bankasi AS(a)(b)(c) (5 yr. USD Swap + 11.245%)
	200,000		13.875		01/15/24	200,313
						15,592,750
Beverages(a) – 0.9%
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc.
	390,000		4.700		02/01/36	389,236
Constellation Brands, Inc.
	100,000		3.150		08/01/29	93,019
Keurig Dr Pepper, Inc.
	421,000		3.200		05/01/30	387,004
						869,259
Biotechnology(a) – 0.5%
Amgen, Inc.
	115,000		5.250		03/02/30	118,258
	375,000		5.250		03/02/33	384,356
						502,614
Building Materials(a) – 1.4%
Carrier Global Corp.
	410,000		2.722		02/15/30	367,073
Cornerstone Building Brands, Inc.(b)
	255,000		6.125		01/15/29	210,900
CP Atlas Buyer, Inc.(b)
	305,000		7.000		12/01/28	266,058

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Building Materials(a) – (continued)
Johnson Controls International PLC/Tyco Fire & Security Finance SCA
$	270,000		4.900	%	12/01/32	$    272,921
Standard Industries, Inc.(b)
	230,000		4.375		07/15/30	211,030
						1,327,982
Chemicals(a)(b) – 2.1%
ASP Unifrax Holdings, Inc.
	50,000		5.250		09/30/28	36,458
Avient Corp.
	180,000		7.125		08/01/30	186,656
Axalta Coating Systems LLC
	325,000		3.375		02/15/29	292,302
Chemours Co.
	315,000		4.625		11/15/29	276,513
Ingevity Corp.
	190,000		3.875		11/01/28	170,724
International Flavors & Fragrances, Inc.
	540,000		2.300		11/01/30	448,006
Minerals Technologies, Inc.
	325,000		5.000		07/01/28	311,610
WR Grace Holdings LLC
	230,000		5.625		08/15/29	203,141
						1,925,410
Coal(a) – 0.0%
Teck Resources Ltd.
	25,000		3.900		07/15/30	23,249
Commercial Services – 2.1%
Adani Ports & Special Economic Zone Ltd.(a)
	350,000		4.000		07/30/27	311,281
Alarm.com Holdings, Inc.(d)
	15,000		0.000		01/15/26	13,305
Allied Universal Holdco LLC/Allied Universal Finance Corp.(a)(b)
	170,000		6.000		06/01/29	139,264
APi Group DE, Inc.(a)(b)
	365,000		4.125		07/15/29	333,822
	50,000		4.750		10/15/29	46,892
APX Group, Inc.(a)(b)
	305,000		5.750		07/15/29	284,733
CoStar Group, Inc.(a)(b)
	75,000		2.800		07/15/30	64,178
Garda World Security Corp.(a)(b)
	75,000		7.750		02/15/28	77,980
Quanta Services, Inc.(a)
	61,000		2.900		10/01/30	53,737
Verisure Midholding AB(a)
EUR	380,000		5.250		02/15/29	399,759
VT Topco, Inc.(a)(b)
$	205,000		8.500		08/15/30	213,329
						1,938,280
Computers(a) – 0.7%
Dell International LLC/EMC Corp.
	99,000		6.020		06/15/26	101,312
	270,000		5.300		10/01/29	278,170

GOLDMAN SACHS INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Computers(a) – (continued)
KBR, Inc.(b)
$	110,000		4.750	%	09/30/28	$    102,118
Unisys Corp.(b)
	65,000		6.875		11/01/27	58,575
Virtusa Corp.(b)
	95,000		7.125		12/15/28	81,653
						621,828
Distribution & Wholesale(a)(b) – 0.2%
BCPE Empire Holdings, Inc.
	195,000		7.625		05/01/27	188,471
Diversified Financial Services(a) – 4.9%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust
	175,000		6.500		07/15/25	177,604
AG Issuer LLC(b)
	350,000		6.250		03/01/28	347,858
AG TTMT Escrow Issuer LLC(b)
	45,000		8.625		09/30/27	47,362
Air Lease Corp.
	75,000		2.875		01/15/26	71,499
	245,000		3.750		06/01/26	236,721
Ally Financial, Inc.(c) (7 yr. CMT + 3.481%)
	295,000		4.700		05/15/28	201,538
Aviation Capital Group LLC(b)
	75,000		1.950		01/30/26	69,480
Avolon Holdings Funding Ltd.(b)
	60,000		3.950		07/01/24	59,237
	75,000		2.875		02/15/25	72,426
	50,000		4.250		04/15/26	48,359
Global Aircraft Leasing Co. Ltd.(b)(e) (PIK 7.250%, Cash 6.500%)
	74,581		6.500		09/15/24	70,223
Icahn Enterprises LP/Icahn Enterprises Finance Corp.
	285,000		4.750		09/15/24	283,242
Macquarie Airfinance Holdings Ltd.(b)
	155,000		8.125		03/30/29	162,099
Midcap Financial Issuer Trust(b)
	200,000		6.500		05/01/28	187,206
Nationstar Mortgage Holdings, Inc.(b)
	200,000		5.500		08/15/28	192,714
Navient Corp.
	300,000		5.500		03/15/29	276,777
	205,000		9.375		07/25/30	215,986
NFP Corp.(b)
	540,000		6.875		08/15/28	549,272
OneMain Finance Corp.
	250,000		4.000		09/15/30	213,918
Oxford Finance LLC/Oxford Finance Co.-Issuer II, Inc.(b)
	160,000		6.375		02/01/27	151,446
United Wholesale Mortgage LLC(b)
	265,000		5.500		11/15/25	263,325
	210,000		5.500		04/15/29	198,755
VistaJet Malta Finance PLC/Vista Management Holding, Inc.(b)
	460,000		7.875		05/01/27	398,240
						4,495,287

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Electrical(a) – 1.8%
AES Panama Generation Holdings SRL
$	392,838		4.375	%	05/31/30	$    329,002
American Electric Power Co., Inc.
	325,000		2.300		03/01/30	277,830
NextEra Energy Operating Partners LP(b)
	165,000		7.250		01/15/29	172,875
Pacific Gas & Electric Co.
	25,000		2.100		08/01/27	22,546
	355,000		2.500		02/01/31	293,219
Pike Corp.(b)
	445,000		5.500		09/01/28	423,898
Vistra Operations Co. LLC(b)
	50,000		3.550		07/15/24	49,244
	60,000		4.300		07/15/29	56,415
						1,625,029
Electronics(a)(b) – 0.4%
Imola Merger Corp.
	375,000		4.750		05/15/29	355,875
Engineering & Construction(a) – 1.3%
Aeropuerto Internacional de Tocumen SA(b)
	210,000		4.000		08/11/41	158,172
Arcosa, Inc.(b)
	190,000		4.375		04/15/29	176,911
Global Infrastructure Solutions, Inc.(b)
	280,000		5.625		06/01/29	257,342
	85,000		7.500		04/15/32	78,706
IHS Netherlands Holdco BV
	200,000		8.000		09/18/27	177,313
Mexico City Airport Trust
	400,000		5.500		10/31/46	343,028
						1,191,472
Entertainment(a)(b) – 0.6%
Cinemark USA, Inc.
	290,000		5.875		03/15/26	284,910
SeaWorld Parks & Entertainment, Inc.
	290,000		5.250		08/15/29	271,948
						556,858
Environmental(a)(b) – 0.9%
GFL Environmental, Inc.
	340,000		4.000		08/01/28	313,732
Waste Pro USA, Inc.
	535,000		5.500		02/15/26	515,852
						829,584
Food & Drug Retailing – 0.8%
H-Food Holdings LLC/Hearthside Finance Co., Inc.(a)(b)
	230,000		8.500		06/01/26	22,213
Kraft Heinz Foods Co.
	155,000		6.875		01/26/39	179,552
	351,000		5.500	(a)	06/01/50	362,401
U.S. Foods, Inc.(a)(b)
	205,000		4.625		06/01/30	191,066
						755,232

GOLDMAN SACHS INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Hand/Machine Tools(a)(b) – 0.1%
Regal Rexnord Corp.
$	105,000		6.300	%	02/15/30	$    108,087
Healthcare Providers & Services(a) – 2.0%
CAB SELAS(b)
EUR	150,000		3.375		02/01/28	147,419
Chrome Holdco SAS(b)
	100,000		5.000		05/31/29	76,782
CHS/Community Health Systems, Inc.(b)
$	230,000		4.750		02/15/31	181,180
DaVita, Inc.(b)
	305,000		3.750		02/15/31	250,377
Laboratoire Eimer Selas(b)
EUR	100,000		5.000		02/01/29	89,420
LifePoint Health, Inc.(b)
$	140,000		11.000		10/15/30	147,679
Medline Borrower LP(b)
	400,000		3.875		04/01/29	361,800
	275,000		5.250		10/01/29	259,702
Tenet Healthcare Corp.
	145,000		6.125		10/01/28	144,330
	155,000		6.125		06/15/30	156,727
						1,815,416
Home Builders(a) – 0.7%
KB Home
	185,000		7.250		07/15/30	192,317
LGI Homes, Inc.(b)
	485,000		4.000		07/15/29	419,995
						612,312
Housewares(a) – 0.4%
Newell Brands, Inc.
	185,000		6.500		04/01/46	152,841
Scotts Miracle-Gro Co.
	250,000		4.000		04/01/31	215,188
						368,029
Insurance(a) – 2.0%
Acrisure LLC/Acrisure Finance, Inc.(b)
	50,000		10.125		08/01/26	52,429
	200,000		4.250		02/15/29	182,252
	540,000		6.000		08/01/29	491,011
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer(b)
	180,000		6.750		10/15/27	179,384
American International Group, Inc.
	305,000		3.400		06/30/30	280,615
AssuredPartners, Inc.(b)
	110,000		5.625		01/15/29	102,585
BroadStreet Partners, Inc.(b)
	460,000		5.875		04/15/29	431,232
Equitable Holdings, Inc.
	60,000		4.350		04/20/28	58,013
USI, Inc.(b)
	90,000		7.500		01/15/32	92,135
						1,869,656

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Internet(a) – 1.7%
Expedia Group, Inc.
$	127,000		4.625	%	08/01/27	$    126,655
	326,000		2.950		03/15/31	287,881
Getty Images, Inc.(b)
	550,000		9.750		03/01/27	553,492
Match Group Holdings II LLC(b)
	255,000		3.625		10/01/31	220,307
Meta Platforms, Inc.
	80,000		5.750		05/15/63	87,696
Prosus NV(b)
EUR	120,000		2.031		08/03/32	101,064
United Group BV(b)
	175,000		4.625		08/15/28	182,598
						1,559,693
Investment Companies(a)(b) – 0.2%
JAB Holdings BV
$	250,000		2.200		11/23/30	200,770
Iron/Steel(a) – 0.1%
Metinvest BV
	200,000		8.500		04/23/26	139,000
Leisure Time(a)(b) – 0.6%
Carnival Corp.
	60,000		7.000		08/15/29	62,580
MajorDrive Holdings IV LLC
	315,000		6.375		06/01/29	273,697
TUI Cruises GmbH
EUR	235,000		6.500		05/15/26	255,700
						591,977
Lodging(a) – 0.7%
Hilton Grand Vacations Borrower Escrow LLC/Hilton Grand Vacations Borrower Escrow, Inc.(b)
$	350,000		5.000		06/01/29	323,011
Marriott International, Inc.
	75,000		5.000		10/15/27	75,938
	185,000		4.900		04/15/29	186,190
Marriott Ownership Resorts, Inc.(b)
	95,000		4.500		06/15/29	84,015
						669,154
Machinery - Construction & Mining(a)(b) – 0.3%
Vertiv Group Corp.
	255,000		4.125		11/15/28	238,208
Machinery-Diversified(a) – 1.4%
Husky III Holding Ltd.(b)(e)
	45,000		13.000		02/15/25	44,893
Otis Worldwide Corp.
	245,000		2.565		02/15/30	218,133
Titan Acquisition Ltd./Titan Co.-Borrower LLC(b)
	615,000		7.750		04/15/26	618,782
TK Elevator Holdco GmbH(b)
	428,000		7.625		07/15/28	422,646
						1,304,454

GOLDMAN SACHS INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Media – 4.0%
Altice Financing SA(a)(b)
$	200,000		5.000	%	01/15/28	$    181,864
CCO Holdings LLC/CCO Holdings Capital Corp.(a)(b)
	575,000		4.750		02/01/32	507,000
Charter Communications Operating LLC/Charter Communications Operating Capital(a)
	170,000		3.750		02/15/28	160,618
Directv Financing LLC/Directv Financing Co.-Obligor, Inc.(a)(b)
	370,000		5.875		08/15/27	347,426
DISH DBS Corp.
	108,000		7.750		07/01/26	75,397
	110,000		5.250	(a)(b)	12/01/26	94,519
	145,000		7.375	(a)	07/01/28	87,347
DISH Network Corp.(a)(b)
	230,000		11.750		11/15/27	239,927
iHeartCommunications, Inc.(a)
	290,000		8.375		05/01/27	188,187
Scripps Escrow, Inc.(a)(b)
	161,000		5.875		07/15/27	142,842
Sinclair Television Group, Inc.(a)(b)
	170,000		5.125		02/15/27	153,471
Sirius XM Radio, Inc.(b)
	635,000		3.875		09/01/31	542,195
Townsquare Media, Inc.(a)(b)
	325,000		6.875		02/01/26	318,844
Urban One, Inc.(a)(b)
	410,000		7.375		02/01/28	348,217
Ziggo Bond Co. BV(a)(b)
EUR	300,000		3.375		02/28/30	279,023
						3,666,877
Miscellaneous Manufacturing – 0.3%
General Electric Co.
$	95,000		5.875		01/14/38	104,578
Hillenbrand, Inc.(a)
	235,000		3.750		03/01/31	204,093
						308,671
Multi-National(a)(b) – 0.4%
Banque Ouest Africaine de Developpement
EUR	480,000		2.750		01/22/33	401,025
Oil Field Services – 4.2%
Cenovus Energy, Inc.
$	11,000		6.750		11/15/39	12,010
Civitas Resources, Inc.(a)(b)
	205,000		5.000		10/15/26	199,143
	55,000		8.375		07/01/28	57,523
Ecopetrol SA(a)
	240,000		6.875		04/29/30	236,400
Marathon Petroleum Corp.(a)
	50,000		3.800		04/01/28	47,801
Matador Resources Co.(a)(b)
	230,000		6.875		04/15/28	234,200
MEG Energy Corp.(a)(b)
	215,000		5.875		02/01/29	208,926
Nabors Industries, Inc.(a)(b)
	645,000		7.375		05/15/27	632,680

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Oil Field Services – (continued)
Nabors Industries, Inc.(a)(b) – (continued)
$	45,000		9.125	%	01/31/30	$     45,370
Noble Finance II LLC(a)(b)
	130,000		8.000		04/15/30	135,675
Occidental Petroleum Corp.(a)
	200,000		5.550		03/15/26	201,640
Permian Resources Operating LLC(a)(b)
	162,000		7.000		01/15/32	167,082
Sitio Royalties Operating Partnership LP/Sitio Finance Corp.(a)(b)
	170,000		7.875		11/01/28	175,826
Southwestern Energy Co.(a)
	180,000		4.750		02/01/32	167,027
TechnipFMC PLC(a)(b)
	375,000		6.500		02/01/26	374,595
Transocean Poseidon Ltd.(a)(b)
	82,500		6.875		02/01/27	82,406
Transocean Titan Financing Ltd.(a)(b)
	70,000		8.375		02/01/28	72,440
Transocean, Inc.(a)(b)
	440,000		11.500		01/30/27	460,130
	29,450		8.750		02/15/30	30,805
USA Compression Partners LP/USA Compression Finance Corp.(a)
	325,000		6.875		04/01/26	324,278
						3,865,957
Packaging(b) – 0.5%
Intelligent Packaging Ltd. Finco, Inc./Intelligent Packaging Ltd. Co.-Issuer LLC(a)
	350,000		6.000		09/15/28	327,411
Sealed Air Corp.
	175,000		6.875		07/15/33	185,754
						513,165
Pharmaceuticals(a)(b) – 0.5%
AdaptHealth LLC
	220,000		6.125		08/01/28	189,943
	95,000		4.625		08/01/29	73,688
	65,000		5.125		03/01/30	51,195
Bausch Health Cos., Inc.
	206,000		6.125		02/01/27	139,017
						453,843
Pipelines(a) – 6.0%
Cheniere Energy Partners LP(b)
	40,000		5.950		06/30/33	41,060
CNX Midstream Partners LP(b)
	145,000		4.750		04/15/30	128,473
Columbia Pipelines Operating Co. LLC(b)
	345,000		6.036		11/15/33	361,677
CQP Holdco LP/BIP-V Chinook Holdco LLC(b)
	685,000		5.500		06/15/31	649,126
Energy Transfer LP
	385,000		5.250		04/15/29	388,034
Global Partners LP/GLP Finance Corp.
	530,000		6.875		01/15/29	513,687
Howard Midstream Energy Partners LLC(b)
	315,000		6.750		01/15/27	313,028

GOLDMAN SACHS INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount			Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Pipelines(a) – (continued)
Howard Midstream Energy Partners LLC(b) – (continued)
$	120,000			8.875	%	07/15/28	$    126,384
Kinetik Holdings LP(b)
	265,000			5.875		06/15/30	259,814
MPLX LP
	105,000			4.000		03/15/28	101,339
	365,000			2.650		08/15/30	315,302
NuStar Logistics LP
	285,000			6.375		10/01/30	285,653
ONEOK, Inc.
	275,000			6.350		01/15/31	293,623
Plains All American Pipeline LP/PAA Finance Corp.
	400,000			3.800		09/15/30	368,440
Summit Midstream Holdings LLC/Summit Midstream Finance
	Corp.	(b)
	391,000			12.000		10/15/26	381,049
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.(b)
	75,000			6.000		12/31/30	70,349
Targa Resources Partners LP/Targa Resources Partners Finance
	Corp.
	395,000			4.875		02/01/31	383,502
	197,000			4.000		01/15/32	179,514
Venture Global LNG, Inc.(b)
	315,000			8.125		06/01/28	318,131
	30,000			9.500		02/01/29	31,717
							5,509,902
Real Estate Investment Trust(a) – 0.8%
Agree LP
	25,000			2.900		10/01/30	21,526
Prologis LP
	25,000			1.750		07/01/30	20,980
Realty Income Corp.
	355,000			2.850		12/15/32	302,407
Regency Centers LP
	60,000			2.950		09/15/29	53,780
Spirit Realty LP
	60,000			4.000		07/15/29	56,913
Trust Fibra Uno
	200,000			4.869		01/15/30	180,125
WP Carey, Inc.
	60,000			3.850		07/15/29	56,258
	25,000			2.400		02/01/31	21,133
							713,122
Retailing(a) – 3.0%
Asbury Automotive Group, Inc.(b)
	220,000			4.625		11/15/29	203,911
	55,000			5.000		02/15/32	50,109
Foundation Building Materials, Inc.(b)
	270,000			6.000		03/01/29	243,967
Group 1 Automotive, Inc.(b)
	110,000			4.000		08/15/28	102,043
GYP Holdings III Corp.(b)
	180,000			4.625		05/01/29	164,518
Ken Garff Automotive LLC(b)
	290,000			4.875		09/15/28	275,312

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Retailing(a) – (continued)
LCM Investments Holdings II LLC(b)
$	410,000		4.875	%	05/01/29	$    381,722
Penske Automotive Group, Inc.
	290,000		3.750		06/15/29	259,280
Sonic Automotive, Inc.(b)
	185,000		4.625		11/15/29	168,337
	75,000		4.875		11/15/31	66,804
Specialty Building Products Holdings LLC/SBP Finance Corp.(b)
	330,000		6.375		09/30/26	326,515
SRS Distribution, Inc.(b)
	155,000		6.125		07/01/29	147,044
	205,000		6.000		12/01/29	193,008
Tractor Supply Co.
	75,000		1.750		11/01/30	61,508
Yum! Brands, Inc.(b)
	135,000		4.750		01/15/30	130,711
						2,774,789
Semiconductors(a) – 1.8%
Broadcom, Inc.(b)
	372,000		3.469		04/15/34	323,793
	594,000		3.137		11/15/35	487,846
	645,000		3.187		11/15/36	523,450
NXP BV/NXP Funding LLC/NXP USA, Inc.
	360,000		3.400		05/01/30	330,775
						1,665,864
Software(a) – 2.9%
AthenaHealth Group, Inc.(b)
	225,000		6.500		02/15/30	204,167
Castle U.S. Holding Corp.(b)
	362,000		9.500		02/15/28	186,372
Clarivate Science Holdings Corp.(b)
	365,000		3.875		07/01/28	343,684
	310,000		4.875		07/01/29	290,929
Elastic NV(b)
	245,000		4.125		07/15/29	225,099
Oracle Corp.
	415,000		2.875		03/25/31	367,516
	580,000		6.250		11/09/32	630,709
TeamSystem SpA(b)
EUR	435,000		3.500		02/15/28	444,855
						2,693,331
Telecommunication Services – 3.8%
Altice France SA(a)(b)
	330,000		2.125		02/15/25	350,926
AT&T, Inc.(a)
$	365,000		2.750		06/01/31	319,784
	482,000		2.550		12/01/33	393,240
	135,000		4.900		08/15/37	130,691
	315,000		5.150		11/15/46	303,499
	395,000		3.650		06/01/51	298,138
	420,000		3.500		09/15/53	305,583
Bharti Airtel Ltd.(a)(b)
	360,000		3.250		06/03/31	317,019

GOLDMAN SACHS INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Telecommunication Services – (continued)
CommScope, Inc.(a)(b)
$	55,000		6.000	%	03/01/26	$     48,952
Frontier Communications Holdings LLC(a)(b)
	125,000		5.000		05/01/28	115,494
Sprint Capital Corp.
	325,000		8.750		03/15/32	401,037
T-Mobile USA, Inc.(a)
	190,000		2.050		02/15/28	171,483
	402,000		3.875		04/15/30	381,655
						3,537,501
Transportation – 1.2%
Cargo Aircraft Management, Inc.(a)(b)
	120,000		4.750		02/01/28	109,793
MV24 Capital BV
	483,816		6.748		06/01/34	450,771
Rand Parent LLC(a)(b)
	240,000		8.500		02/15/30	229,548
RXO, Inc.(a)(b)
	170,000		7.500		11/15/27	175,862
XPO, Inc.(a)(b)
	110,000		7.125		02/01/32	113,451
						1,079,425
TOTAL CORPORATE OBLIGATIONS
(Cost $73,014,983)						$ 73,129,702
Mortgage-Backed Obligations – 14.1%
Collateralized Mortgage Obligations(a) – 1.0%
Interest Only(f) – 0.3%
Government National Mortgage Association REMICS Series 2018-124, Class SN (-1X 1 mo. USD Term SOFR + 6.086%)
$	138,858		0.728	%(c)	09/20/48	$     14,576
Government National Mortgage Association REMICS Series 2020-7, Class GI
	61,293		4.000		01/20/50	10,800
Government National Mortgage Association REMICS Series 2020-21, Class SA (-1X 1 mo. USD Term SOFR + 5.936%)
	175,755		0.578	(c)	02/20/50	20,257
Government National Mortgage Association REMICS Series 2020-146, Class KI
	593,719		2.500		10/20/50	80,637
Government National Mortgage Association REMICS Series 2019-110, Class PS (-1X 1 mo. USD Term SOFR + 5.936%)
	347,918		0.578	(c)	09/20/49	40,158
Government National Mortgage Association REMICS Series 2019-153, Class EI
	341,999		4.000		12/20/49	63,521
Government National Mortgage Association REMICS Series 2020-55, Class AS (-1X 1 mo. USD Term SOFR + 5.936%)
	258,791		0.578	(c)	04/20/50	30,142

Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Obligations – (continued)
Interest Only(f) – (continued)
Government National Mortgage Association REMICS Series 2020-61, Class GI
$	140,660		5.000	%	05/20/50	$     27,340
						287,431
Sequential Floating Rate(b)(c) – 0.7%
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2021-DNA3, Class M2 (30 day USD SOFR Average + 2.100%)
	100,000		7.437		10/25/33	100,432
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2021-DNA1, Class M2 (30 day USD SOFR Average + 1.800%)
	28,015		7.137		01/25/51	28,223
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2022-DNA4, Class M1A (30 day USD SOFR Average + 2.200%)
	117,348		7.537		05/25/42	118,986
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes Series 2022-HQA2, Class M1B (30 day USD SOFR Average + 4.000%)
	100,000		9.337		07/25/42	105,468
Federal National Mortgage Association Connecticut Avenue Securities Series 2022-R08, Class 1M2 (30 day USD SOFR Average + 3.600%)
	30,000		8.937		07/25/42	31,518
Federal National Mortgage Association Connecticut Avenue Securities Series 2022-R05, Class 2M2 (30 day USD SOFR Average + 3.000%)
	85,000		8.337		04/25/42	87,038
Federal National Mortgage Association Connecticut Avenue Securities Series 2022-R05, Class 2B1 (30 day USD SOFR Average + 4.500%)
	95,000		9.837		04/25/42	98,368
Federal National Mortgage Association Connecticut Avenue Securities Series 2023-R05, Class 1M2 (30 day USD SOFR Average + 3.100%)
	25,000		8.437		06/25/43	26,101
						596,134
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS						$    883,565
Federal Agencies(g) – 13.1%
Government National Mortgage Association – 5.3%
$	1,000,000		4.500	%	TBA-30yr	$    976,268
	4,000,000		5.000		TBA-30yr	3,975,712
						4,951,980
Uniform Mortgage-Backed Security – 7.8%
	2,000,000		6.500		TBA-30yr	2,049,061
	2,000,000		7.000		TBA-30yr	2,062,736

GOLDMAN SACHS INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Obligations – (continued)
Uniform Mortgage-Backed Security – (continued)
$	3,000,000		7.000	%	TBA-30yr	$  3,093,166
						7,204,963
TOTAL FEDERAL AGENCIES						$ 12,156,943
TOTAL MORTGAGE-BACKED OBLIGATIONS (Cost $12,913,350)						$ 13,040,508
Asset-Backed Securities(a)(b)(c) – 4.8%
Collateralized Loan Obligations – 4.8%
Bain Capital Credit CLO Ltd. Series 2019-1A, Class DR (3 mo. USD Term SOFR + 3.712%)
$	175,000		9.108	%	04/19/34	$    175,030
CIFC Funding Ltd. Series 2022-6A, Class B1
	600,000		8.494		07/16/35	604,084
Madison Park Funding XXI Ltd. Series 2016-21A, Class C1RR (3 mo. USD Term SOFR + 3.512%)
	600,000		8.906		10/15/32	598,102
Neuberger Berman Loan Advisers CLO 31 Ltd. Series 2019-31A, Class DR (3 mo. USD Term SOFR + 3.512%)
	600,000		8.927		04/20/31	594,000
Rad CLO Ltd. Series 2023-22A, Class B
	350,000		8.042		01/20/37	349,417
Rockford Tower CLO Ltd. Series 2023-1A, Class C
	300,000		8.551		01/20/36	299,543
RRX 7 Ltd. Series 2022-7A, Class A1 (3 mo. USD Term SOFR + 1.360%)
	1,000,000		6.754		07/15/35	997,843
THL Credit Wind River CLO Ltd. Series 2017-1A, Class DR (3 mo. USD Term SOFR + 3.982%)
	600,000		9.377		04/18/36	582,251
Tikehau U.S. CLO I Ltd. Series 2021-1A, Class E (3 mo. USD Term SOFR + 7.172%)
	300,000		12.567		01/18/35	265,004
						4,465,274
TOTAL ASSET-BACKED SECURITIES (Cost $4,493,680)						$  4,465,274
Sovereign Debt Obligations – 4.6%
Euro – 1.0%
Benin Government International Bonds(b)
EUR	260,000		4.875	%	01/19/32	$    233,658
Egypt Government International Bonds
	200,000		4.750		04/16/26	178,288
Indonesia Government International Bonds
	100,000		1.100		03/12/33	86,962
Ivory Coast Government International Bonds(b)
	500,000		4.875		01/30/32	464,004
Romania Government International Bonds(b)
	30,000		2.625		12/02/40	22,210
						985,122

Principal Amount		Interest Rate			Maturity Date	Value
Sovereign Debt Obligations – (continued)
Sovereign – 0.3%
Ecuador Government International Bonds(b)(d)
$	34,036		0.000	%	07/31/30	$      9,649
Romania Government International Bonds
EUR	290,000		2.875		03/11/29	289,418
						299,067
United States Dollar – 3.3%
Abu Dhabi Government International Bonds(b)
$	200,000		3.875		04/16/50	167,330
Argentina Republic Government International Bonds(a)
	13,920		1.000		07/09/29	5,513
	455,900		0.750	(h)	07/09/30	182,041
Dominican Republic International Bonds(b)
	240,000		4.875		09/23/32	218,194
Ecuador Government International Bonds(b)(h)
	46,400		2.500		07/31/40	14,616
	40,000		6.000		07/31/30	18,520
Egypt Government International Bonds(b)
	200,000		8.875		05/29/50	126,937
Lebanon Government International Bonds(i)
	10,000		8.250		05/17/34	598
	10,000		6.200		02/26/25	591
	20,000		6.850		05/25/29	1,195
	110,000		6.650		02/26/30	6,566
	10,000		6.750		11/29/27	597
Mexico Government International Bonds(a)
	603,000		3.500		02/12/34	510,100
Morocco Government International Bonds(b)
	310,000		3.000		12/15/32	254,684
National Bank of Uzbekistan
	260,000		4.850		10/21/25	240,825
Peru Government International Bonds(a)
	400,000		2.783		01/23/31	347,625
Republic of Uzbekistan International Bonds(b)
	200,000		3.700		11/25/30	167,875
Turkiye Government International Bonds
	200,000		6.125		10/24/28	196,250
	200,000		7.625		04/26/29	206,750
	200,000		6.500		09/20/33	191,000
Ukraine Government International Bonds
	200,000		7.750		09/01/26	54,800
	200,000		7.750		09/01/28	54,900
	190,000		7.750		09/01/25	55,860
						3,023,367
TOTAL SOVEREIGN DEBT OBLIGATIONS (Cost $5,784,692)						$  4,307,556
Bank Loans(c)(j) – 4.5%
Aerospace & Defense – 0.3%
ADS Tactical, Inc. (1 mo. USD Term SOFR + 5.750%)
$	252,849		11.220	%	03/19/26	$    249,478

GOLDMAN SACHS INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Bank Loans(c)(j) – (continued)
Automotive – 0.4%
First Brands Group LLC
(3 mo. USD Term SOFR + 8.500%)
$	250,000		14.381	%	03/30/28	$    235,937
(6 mo. USD Term SOFR + 5.000%)
	129,229		10.881		03/30/27	127,937
						363,874
Building & Construction – 0.3%
Energize HoldCo LLC
(1 mo. USD Term SOFR + 3.750%)
	171,938		9.220		12/08/28	171,415
(1 mo. USD Term SOFR + 6.750%)
	75,000		12.220	(k)	12/07/29	70,125
						241,540
Building Materials – 0.6%
Chamberlain Group, Inc. (1 mo. USD Term SOFR + 3.250%)
	343,000		8.706		11/03/28	341,837
Icebox Holdco III, Inc.
(3 mo. USD Term SOFR + 3.500%)
	172,087		9.110		12/22/28	170,624
(3 mo. USD Term SOFR + 6.750%)
	50,000		12.360		12/21/29	45,250
						557,711
Capital Goods - Others – 0.3%
Engineered Machinery Holdings, Inc.
(3 mo. EUR EURIBOR + 3.750%)
EUR	73,313		7.675		05/21/28	77,999
(3 mo. USD Term SOFR + 3.500%)
$	185,820		9.110		05/19/28	184,252
						262,251
Diversified Financial Services – 0.4%
DRW Holdings LLC (1 mo. USD Term SOFR + 3.750%)
	367,500		9.220		03/01/28	366,581
Entertainment – 0.3%
Arcis Golf LLC (1 mo. USD Term SOFR + 3.750%)
	172,375		9.220		11/24/28	172,663
Cinemark USA, Inc. (1 mo. USD Term SOFR + 3.750%) (1 mo. USD Term SOFR + 3.750%) - (3 mo. USD Term SOFR + 3.750%)
	148,875		9.100		05/24/30	148,726
						321,389
Machinery – 0.0%
Clark Equipment Co. (3 mo. USD Term SOFR + 2.500%)
	21,621		7.948		04/20/29	21,633
Media - Cable – 0.2%
DirecTV Financing LLC (3 mo. USD Term SOFR + 5.000%)
	179,437		10.650		08/02/27	179,237
Media - Non Cable – 0.1%
Entercom Media Corp. (3 mo. USD Term SOFR + 2.500%)
	225,000		8.145		11/18/24	107,438

Principal Amount		Interest Rate			Maturity Date	Value
Bank Loans(c)(j) – (continued)
Metals & Mining – 0.2%
Grinding Media, Inc. (3 mo. USD Term SOFR + 4.000%)
$	195,500		9.684	%	10/12/28	$    194,523
Packaging – 0.4%
LABL, Inc. (1 mo. USD Term SOFR + 5.000%)
	147,000		10.456		10/29/28	140,668
Pretium Packaging LLC (1 mo. USD Term SOFR + 5.000%)
	275,000		10.353		10/02/28	268,986
						409,654
Retailers – 0.2%
TruGreen LP (3 mo. USD Term SOFR + 8.500%)
	210,000		14.145		11/02/28	155,400
Technology – 0.2%
Syndigo LLC (1 mo. USD Term SOFR + 4.500%)
	218,812		9.970		12/15/27	212,522
Technology - Software – 0.6%
DCert Buyer, Inc. (1 mo. USD Term SOFR + 7.000%)
	325,000		12.356		02/19/29	294,463
Isolved, Inc. (3 mo. USD Term SOFR + 4.000%)
	50,000		9.484		10/14/30	50,000
Loyalty Ventures, Inc.(i) (3 mo. U.S. (Fed) Prime Rate + 0.000%) - (3 mo. U.S. (Fed) Prime Rate + 5.500%)
	196,262		13.750		11/03/27	1,717
Virtusa Corp. (1 mo. USD Term SOFR + 3.750%)
	191,834		9.220		02/11/28	191,915
						538,095
TOTAL BANK LOANS (Cost $4,568,997)						$  4,181,326

Shares	Description	Value
Common Stocks – 0.4%
Communications Equipment – 0.1%
4,216	Intelsat SA	$    119,894
Media – 0.2%
45,301	iHeartMedia, Inc. Class A	120,954
Oil, Gas & Consumable Fuels – 0.1%
6,420	Summit Midstream Partners LP	114,982
TOTAL COMMON STOCKS (Cost $477,756)		$    355,830

Principal Amount		Interest Rate			Maturity Date	Value
U.S. Treasury Obligations – 2.8%
U.S. Treasury Bonds
$	190,000		4.750	%	11/15/43	$    204,161
U.S. Treasury Notes
	1,040,000		3.750		12/31/28	1,035,486
	339,900		3.500		04/30/30	332,332

GOLDMAN SACHS INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
U.S. Treasury Obligations – (continued)
$	1,020,000		3.875	%	12/31/30	$  1,012,008
TOTAL U.S. TREASURY OBLIGATIONS (Cost $2,593,159)						$  2,583,987

Shares	Dividend Rate			Value
Investment Company(l) – 0.9%
Goldman Sachs Financial Square Government Fund — Institutional Shares
820,514		5.248	%	$    820,514
(Cost $820,514)
TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS – 111.2% (Cost $104,667,131)				$102,884,697

Principal Amount		Interest Rate			Maturity Date	Value
Short-term Investments(d) – 0.8%
U.S. Treasury Obligations – 0.8%
U.S. Cash Management Bills – Reopening
$	691,400		0.000	%	02/15/24	$    689,781
(Cost $689,659)
TOTAL SHORT-TERM INVESTMENTS (Cost $689,659)						$    689,781
TOTAL INVESTMENTS – 112.0% (Cost $105,356,790)						$103,574,478
LIABILITIES IN EXCESS OF  OTHER ASSETS – (12.0)%						(11,076,118)
NET ASSETS – 100.0%						$ 92,498,360

The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.

(a)	Security with “Call” features with resetting interest rates. Maturity dates disclosed are the final maturity dates.
(b)	Exempt from registration under Rule 144A of the Securities Act of 1933.
(c)	Variable rate security. Except for floating rate notes (for which final maturity is disclosed), maturity date disclosed is the next interest reset date. Interest rate disclosed is that which is in effect on December 31, 2023.
(d)	Issued with a zero coupon. Income is recognized through the accretion of discount.
(e)	Pay-in-kind securities.
(f)	Security with a notional or nominal principal amount. The actual effective yield of this security is different than the stated interest rate.
(g)	TBA (To Be Announced) Securities are purchased on a forward commitment basis with an approximate principal amount and no defined maturity date. The actual principal and maturity date will be determined upon settlement when the specific mortgage pools are assigned. Total market value of TBA securities (excluding forward sales contracts, if any) amounts to $12,156,943 which represents approximately 13.1% of net assets as of December 31, 2023.
(h)	Coupon changes periodically based upon a predetermined schedule. Interest rate disclosed is that which is in effect on December 31, 2023.
(i)	Security is currently in default and/or non-income producing.
(j)	Bank Loans often require prepayments from excess cash flows or permit the borrower to repay at its election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. As bank loan positions may involve multiple underlying tranches for which the aggregate position is presented, the stated interest rate represents the weighted average interest rate of all contracts on December 31, 2023. Bank Loans typically have rates of interest which are predetermined either daily, monthly, quarterly or semi-annually by reference to a base lending rate, plus a premium. These base lending rates are primarily the Secured Overnight Financing Rate (“SOFR”), and secondarily the prime rate offered by one or more major United States banks (the “Prime Rate”) and the certificate of deposit (“CD”) rate or other base lending rates used by commercial lenders.
(k)	Significant unobservable inputs were used in the valuation of this portfolio security; i.e., Level 3.
(l)	Represents an affiliated Issuer.

GOLDMAN SACHS INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS — At December 31, 2023, the Fund had the following forward foreign currency exchange contracts:

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS WITH UNREALIZED GAIN

Counterparty	Currency Purchased		Currency Sold			Settlement Date		Unrealized Gain
JPMorgan Securities, Inc.	AUD	247,095		USD	166,343		03/20/24	$	2,448
	CAD	314,157		USD	233,778		03/20/24		3,573
	CHF	430,645		USD	494,146		03/20/24		22,160
	EUR	208,944		USD	229,298		03/20/24		2,114
	GBP	162,992		USD	206,541		03/20/24		1,298
	JPY	80,660,135		USD	561,042		03/21/24		18,370
	NOK	1,719,093		USD	163,417		03/20/24		6,088
	NZD	270,253		USD	167,957		03/20/24		2,917
	SEK	1,832,070		USD	179,306		03/20/24		2,915
TOTAL								$	61,883

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS WITH UNREALIZED LOSS

Counterparty	Currency Purchased			Currency Sold			Settlement Date		Unrealized Loss
JPMorgan Securities, Inc.		USD	165,840		AUD	251,867		03/20/24	$	(6,211	)
		USD	230,728		CAD	312,631		03/20/24		(5,470	)
		USD	499,351		CHF	430,751		03/20/24		(17,082	)
		USD	3,868,800		EUR	3,564,495		02/14/24		(73,356	)
		USD	218,017		EUR	201,945		03/20/24		(5,643	)
		USD	204,053		GBP	162,178		03/20/24		(2,749	)
		USD	562,673		JPY	79,174,491		03/21/24		(6,066	)
		USD	156,426		NOK	1,713,226		03/20/24		(12,501	)
		USD	169,965		NZD	277,374		03/20/24		(5,413	)
		USD	176,109		SEK	1,841,465		03/20/24		(7,047	)
TOTAL									$	(141,538	)

FORWARD SALES CONTRACTS — At December 31, 2023, the Fund had the following forward sales contracts:

Description	Interest Rate			Maturity Date(a)		Settlement Date		Principal Amount		Value
Uniform Mortgage-Backed Security		4.500	%		TBA - 30yr		01/01/24	$	(1,000,000)	$	(970,156)
Uniform Mortgage-Backed Security		5.000			TBA - 30yr		01/01/24		(5,000,000)		(4,949,998)
Uniform Mortgage-Backed Security		4.000			TBA - 30yr		01/01/24		(1,000,000)		(946,406)
Uniform Mortgage-Backed Security		5.500			TBA - 30yr		01/01/24		(1,000,000)		(1,004,922)
(PROCEEDS RECEIVABLE: $(7,772,734))										$	(7,871,482)

(a) TBA (To Be Announced) Securities are purchased on a forward commitment basis with an approximate principal amount and no defined maturity date. The actual principal and maturity date will be determined upon settlement when the specific mortgage pools are assigned.

GOLDMAN SACHS INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

FUTURES CONTRACTS — At December 31, 2023, the Fund had the following futures contracts:

Description	Number of Contracts	Expiration Date	Notional Amount			Unrealized Appreciation/ (Depreciation)
Long position contracts:
10 Year U.S. Treasury Notes	3	03/19/24	$	338,672		$	197
2 Year U.S. Treasury Notes	45	03/28/24		9,266,133			49,641
5 Year U.S. Treasury Notes	54	03/28/24		5,873,766			113,193
Total						$	163,031
Short position contracts:
20 Year U.S. Treasury Bonds	(12)	03/19/24		(1,499,250	)		(93,247	)
Short position contracts:
Ultra 10-Year U.S. Treasury Note	(30)	03/19/24		(3,540,469	)		(159,393	)
Ultra Long U.S. Treasury Bonds	(16)	03/19/24		(2,137,500	)		(143,867	)
Total						$	(396,507	)
TOTAL FUTURES CONTRACTS						$	(233,476	)

SWAP CONTRACTS — At December 31, 2023, the Fund had the following swap contracts:

CENTRALLY CLEARED INTEREST RATE SWAP CONTRACTS

Payments Made by the Fund	Payments Received by Fund	Termination Date		Notional Amount (000s)(a)		Market Value			Upfront Premium (Received) Paid			Unrealized Appreciation/ (Depreciation)
3.000%(b)	6M EURO(c)		03/20/27		EUR     700	$	(13,056	)	$	(6,303	)	$	(6,753	)
3.000(b)	6M EURO(c)		03/20/28		110		(2,930	)		(1,630	)		(1,300	)
3.000(b)	6M EURO(c)		03/20/29		950		(31,635	)		(25,115	)		(6,520	)
3.000(b)	6M EURO(c)		03/20/31		740		(32,178	)		(26,415	)		(5,763	)
3.000(b)	6M EURO(c)		03/20/34		440		(23,230	)		(21,674	)		(1,556	)
TOTAL						$	(103,029	)	$	(81,137	)	$	(21,892	)

(a) Represents forward starting interest rate swaps whose effective dates of commencement of accruals and cash flows occur subsequent to December 31, 2023.

(b) Payments made annually.

(c) Payments made semi-annually.

CENTRALLY CLEARED CREDIT DEFAULT SWAP CONTRACTS

Referenced Obligation/Index	Financing Rate Received/(Paid) by the Fund(a)		Credit Spread at December 31, 2023(b)		Termination Date		Notional Amount (000s)		Value		Upfront Premiums (Received) Paid			Unrealized Appreciation/ (Depreciation)
Protection Sold:
CDX.NA.HY Index 34		5.000%		1.740%		06/20/25	$	45	$	2,123	$	(519	)	$	2,642
CDX.NA.IG Index 33		1.000		0.136		12/20/24		1,950		16,840		8,625			8,215
CDX.NA.IG Index 34		1.000		0.220		06/20/25		15,350		176,824		55,882			120,942
TOTAL									$	195,787	$	63,988		$	131,799

(a) Payments made quarterly.

(b) Credit spread on the referenced obligation, together with the term of the swap contract, are indicators of payment/performance risk. The likelihood of a credit event occurring which would require a fund or its counterparty to make a payment or otherwise be required to perform under the swap contract is generally greater as the credit spread and the term of the swap contract increase.

GOLDMAN SACHS INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

Currency Abbreviations:
AUD	— Australian Dollar
CAD	— Canadian Dollar
CHF	— Swiss Franc
EUR	— Euro
GBP	— British Pound
JPY	— Japanese Yen
NOK	— Norwegian Krone
NZD	— New Zealand Dollar
SEK	— Swedish Krona
USD	— U.S. Dollar
Investment Abbreviations:
CLO	— Collateralized Loan Obligation
CMT	— Constant Maturity Treasury Indexes
EURIBOR	— Euro Interbank Offered Rate
LIBOR	— London Interbank Offered Rate
LLC	— Limited Liability Company
LP	— Limited Partnership
PIK	— Payment in kind
PLC	— Public Limited Company
REMICS	— Real Estate Mortgage Investment Conduits
SOFR	— Secured Overnight Financing Rate
STACR	— Structured Agency Credit Risk
USD	— U.S. Dollar
Abbreviations:
CDX.NA.HY Index 34	— CDX North America High Yield Index 34
CDX.NA.IG Ind 33	— CDX North America Investment Grade Index 33
CDX.NA.IG Ind 34	— CDX North America Investment Grade Index 34
EURO	— Euro Offered Rate

GOLDMAN SACHS LONG SHORT CREDIT STRATEGIES FUND

Schedule of Investments

December 31, 2023 (Unaudited)

Principal Amount			Interest Rate			Maturity Date	Value
Secured Debt Obligations – 70.7%
Bank Loans(a)(b) – 21.5%
Aerospace & Defense – 1.1%
ADS Tactical, Inc. (B+/B3) (1 mo. USD Term SOFR + 5.750%)
$	259,768			11.220	%	03/19/26	$   256,305
Propulsion (BC) Finco SARL (B/B2) (3 mo. USD Term SOFR + 3.750%)
	233,024			9.098		09/14/29	233,066
							489,371
Airlines – 0.5%
Air Canada (BB+/Ba1) (3 mo. USD Term SOFR + 3.500%)
	72,134			9.139		08/11/28	72,246
United Airlines, Inc. (BB/Ba1) (1 mo. USD Term SOFR + 3.750%)
	172,094			9.220		04/21/28	172,476
							244,722
Automotive – 0.7%
First Brands Group LLC (B+/B1) (6 mo. USD Term SOFR + 5.000%)
	192,485			10.881		03/30/27	190,613
Mavis Tire Express Services Corp. (B-/B2) (1 mo. USD Term SOFR + 4.000%)
	119,438			9.470		05/04/28	119,506
							310,119
Building & Construction – 1.0%
DG Investment Intermediate Holdings 2, Inc. (B-/B2) (1 mo. USD Term SOFR + 3.750%)
	219,382			9.220		03/31/28	217,033
Energize HoldCo LLC (B/B2) (1 mo. USD Term SOFR + 3.750%)
	121,949			9.220		12/08/28	121,578
Energize HoldCo LLC (CCC+/Caa2) (1 mo. USD Term SOFR +
	6.750	%)
	100,000			12.220	(c)	12/07/29	93,500
							432,111
Building Materials – 0.6%
Icebox Holdco III, Inc. (B-/B2) (3 mo. USD Term SOFR + 3.500%)
	221,254			9.110		12/22/28	219,374
Icebox Holdco III, Inc. (CCC/Caa2) (3 mo. USD Term SOFR + 6.750%)
	50,000			12.360		12/21/29	45,250
							264,624
Capital Goods-Others – 1.1%
Engineered Machinery Holdings, Inc. (B-/B1)
(3 mo. EUR EURIBOR + 3.750%)
EUR	122,187			7.675		05/21/28	129,999
(3 mo. USD Term SOFR + 3.500%)
$	96,383			9.110		05/19/28	95,570
RC Buyer, Inc. (B-/B1) (3 mo. USD Term SOFR + 3.250%)
	244,375			8.895		07/28/28	242,542
							468,111

Principal Amount		Interest Rate			Maturity Date	Value
Secured Debt Obligations – (continued)
Chemicals – 1.2%
Chemours Co. (BBB-/Ba1) (1 mo. USD Term SOFR + 2.500%)
$	149,625		8.856	%	08/18/28	$   149,176
Illuminate Buyer LLC (B+/B1) (1 mo. USD Term SOFR + 3.500%)
	145,235		8.970		06/30/27	145,307
Trident TPI Holdings, Inc. (B-/B2)
(3 mo. USD Term SOFR + 4.500%)
	199,437		9.848		09/15/28	199,344
(3 mo. USD Term SOFR + 5.250%)
	49,500		10.598		09/15/28	49,574
						543,401
Commercial Services – 1.0%
Garda World Security Corp. (B/B2) (3 mo. USD Term SOFR + 4.250%)
	232,008		9.725		10/30/26	232,045
Holding Socotec (B/B2)
(3 mo. EUR EURIBOR + 3.500%)
EUR	100,000		7.425		06/02/28	109,085
(3 mo. USD Term SOFR + 4.035%)
$	121,015		9.822		06/30/28	119,502
						460,632
Consumer Cyclical Services – 1.2%
FCG Acquisitions, Inc. (B-/B2) (1 mo. USD Term SOFR + 4.750%)
	217,250		10.106		03/31/28	216,685
Hertz Corp. (BB+/Ba3) (1 mo. USD Term SOFR + 3.250%)
	341,604		8.720		06/30/28	340,217
						556,902
Diversified Financial Services – 0.7%
DRW Holdings LLC (BB-/Ba3) (1 mo. USD Term SOFR + 3.750%)
	318,500		9.220		03/01/28	317,704
Diversified Manufacturing – 0.7%
Apex Tool Group LLC (CCC+/B3) (1 mo. USD Term SOFR + 5.250%)
	99,787		10.707		02/08/29	87,286
Vertical U.S. Newco, Inc. (B+/B1) (6 mo. USD Term SOFR + 3.500%)
	205,481		9.381		07/30/27	205,738
						293,024
Entertainment – 0.3%
Cinemark USA, Inc. (BB/Ba2) (1 mo. USD Term SOFR + 3.750%)
	124,063		9.100		05/24/30	123,938
Food & Beverage – 0.5%
Chobani LLC (B-/B1) (1 mo. USD Term SOFR + 3.500%)
	241,875		8.970		10/25/27	241,996
Health Care – 1.2%
Jazz Financing Lux SARL (BB-/Ba2) (1 mo. USD Term SOFR + 3.500%)
	233,287		8.970		05/05/28	234,356

GOLDMAN SACHS LONG SHORT CREDIT STRATEGIES FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Secured Debt Obligations – (continued)
Health Care – (continued)
Onex TSG Intermediate Corp. (B/B2) (3 mo. USD Term SOFR + 4.750%)
$	292,500		10.395	%	02/28/28	$   287,747
						522,103
Health Care - Services – 0.1%
LifePoint Health, Inc. (B/B2) (3 mo. USD Term SOFR + 5.500%)
	56,335		11.168		11/16/28	56,095
Insurance – 0.2%
Acrisure LLC (B/B2) (3 mo. USD LIBOR + 3.500%)
	92,653		9.150		02/15/27	92,339
Machinery – 0.5%
SPX Flow, Inc. (B-/B2) (1 mo. USD Term SOFR + 4.500%)
	217,853		9.956		04/05/29	218,367
Media - Cable – 0.6%
DirecTV Financing LLC (BB/Ba3) (3 mo. USD Term SOFR + 5.000%)
	277,328		10.650		08/02/27	277,018
Media-Non Cable – 0.5%
Entercom Media Corp. (D/Ca) (3 mo. USD Term SOFR + 2.500%)
	200,000		8.145		11/18/24	95,500
iHeartCommunications, Inc. (B+/Caa1) (1 mo. USD Term SOFR + 3.000%)
	142,962		8.470		05/01/26	122,883
						218,383
Metals & Mining – 0.2%
PMHC II, Inc. (B-/B3) (3 mo. USD Term SOFR + 4.250%)
	98,997		9.807		04/23/29	94,460
Midstream – 0.7%
AL NGPL Holdings LLC (B+/Ba3) (3 mo. USD Term SOFR + 3.750%)
	128,445		9.210		04/13/28	128,365
M6 ETX Holdings II Midco LLC (B+/B1) (1 mo. USD Term SOFR + 4.500%)
	197,500		9.955		09/19/29	197,686
						326,051
Oil Field Services – 0.6%
ChampionX Corp. (BBB/Ba1) (1 mo. USD Term SOFR + 2.750%)
	246,757		8.206		06/07/29	247,297
Packaging – 1.8%
Charter NEX U.S., Inc. (B/B3) (1 mo. USD Term SOFR + 3.750%)
	266,855		9.220		12/01/27	267,773
Clydesdale Acquisition Holdings, Inc. (B/B2) (1 mo. USD Term SOFR + 4.175%)
	219,076		9.631		04/13/29	219,805
LABL, Inc. (B-/B3) (1 mo. USD Term SOFR + 5.000%)
	219,204		10.456		10/29/28	209,763

Principal Amount		Interest Rate			Maturity Date	Value
Secured Debt Obligations – (continued)
Packaging – (continued)
Pretium Packaging LLC (B/B2) (1 mo. USD Term SOFR + 5.000%)
$	125,000		10.353	%	10/02/28	$   122,266
						819,607
Pharmaceuticals – 1.2%
Covetrus, Inc. (B-/B1) (3 mo. USD Term SOFR + 5.000%)
	272,937		10.348		10/13/29	272,427
Gainwell Acquisition Corp. (B/B2) (3 mo. USD Term SOFR + 4.000%)
	291,000		9.448		10/01/27	282,270
						554,697
Pipelines – 0.4%
CQP Holdco LP (NR/B1) (3 mo. USD Term SOFR + 3.000%)
	197,505		8.348		12/31/30	197,752
Retailers – 0.6%
BCPE Empire Holdings, Inc. (B-/B3) (1 mo. USD Term SOFR + 4.750%)
	244,341		10.106		12/11/28	244,769
Technology - Software – 2.0%
Camelot U.S. Acquisition LLC (B+/B1) (1 mo. USD Term SOFR + 3.000%)
	189,936		8.470		10/30/26	190,070
Castle U.S. Holding Corp. (CCC+/B3) (3 mo. USD Term SOFR + 3.750%)
	290,625		9.400		01/29/27	203,749
DCert Buyer, Inc. (B-/B2) (1 mo. USD Term SOFR + 4.000%)
	180,348		9.356		10/16/26	178,463
DCert Buyer, Inc. (CCC/Caa2) (1 mo. USD Term SOFR + 7.000%)
	125,000		12.356		02/19/29	113,255
Isolved, Inc. (B/B2) (3 mo. USD Term SOFR + 4.000%)
	50,000		9.484		10/14/30	50,000
Loyalty Ventures, Inc. (NR/WR)
	239,876		13.750		11/03/27	2,099
Virtusa Corp. (B/B1) (1 mo. USD Term SOFR + 3.750%)
	142,135		9.220		02/11/28	142,194
						879,830
Technology - Software/Services – 0.3%
Ahead DB Holdings LLC (B+/B1) (3 mo. USD Term SOFR + 3.750%)
	118,509		9.198		10/18/27	117,805
TOTAL BANK LOANS						$ 9,613,228
Other Secured Debt Obligations – 49.2%
Advertising(d)(e) – 0.8%
CMG Media Corp. (CCC+/Caa1)
$	97,000		8.875	%	12/15/27	$    76,692
Outfront Media Capital LLC/Outfront Media Capital Corp. (B/B2)
	279,000		4.625		03/15/30	250,157
Outfront Media Capital LLC/Outfront Media Capital Corp. (BB/Ba1)
	10,000		7.375		02/15/31	10,561
						337,410

GOLDMAN SACHS LONG SHORT CREDIT STRATEGIES FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Secured Debt Obligations – (continued)
Aerospace & Defense(d) – 2.6%
Spirit AeroSystems, Inc. (BB-/Ba2)
$	135,000		9.375	%(e)	11/30/29	$   147,814
TransDigm, Inc. (B-/B3)
	105,000		5.500		11/15/27	103,074
	327,000		4.625		01/15/29	306,602
TransDigm, Inc. (B+/Ba3)
	295,000		6.750	(e)	08/15/28	302,738
Triumph Group, Inc. (CCC+/B2)
	290,000		9.000	(e)	03/15/28	308,206
						1,168,434
Airlines(e) – 0.4%
American Airlines, Inc./AAdvantage Loyalty IP Ltd. (NR/Ba1)
	42,261		5.750		04/20/29	41,222
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd. (NR/B2)(d)
	139,170		5.750		01/20/26	131,392
						172,614
Automotive(d)(e) – 0.8%
Adient Global Holdings Ltd. (BB/B3)
	75,000		8.250		04/15/31	79,476
Adient Global Holdings Ltd. (BBB-/Ba3)
	81,000		7.000		04/15/28	83,984
Allison Transmission, Inc. (NR/Ba2)
	226,000		3.750		01/30/31	199,533
						362,993
Building Materials(d)(e) – 0.5%
Builders FirstSource, Inc. (BB-/Ba2)
	248,000		4.250		02/01/32	223,832
Chemicals(d)(e) – 2.5%
ASP Unifrax Holdings, Inc. (CCC+/B2)
	182,000		5.250		09/30/28	132,707
Axalta Coating Systems LLC/Axalta Coating Systems Dutch Holding B BV(BB-/B1)
	183,000		4.750		06/15/27	177,684
Chemours Co. (BB/B1)
	222,000		4.625		11/15/29	194,876
Element Solutions, Inc. (BB/B1)
	147,000		3.875		09/01/28	135,584
Ingevity Corp. (NR/Ba3)
	256,000		3.875		11/01/28	230,029
WR Grace Holdings LLC (B-/B1)
	247,000		4.875		06/15/27	237,967
						1,108,847
Commercial Services(d)(e) – 2.6%
ADT Security Corp. (BB/Ba2)
	266,000		4.125		08/01/29	245,973
Allied Universal Holdco LLC/Allied Universal Finance Corp. (B/B3)
	142,000		6.625		07/15/26	141,414
APi Group DE, Inc. (B/B1)
	421,000		4.125		07/15/29	385,038
	28,000		4.750		10/15/29	26,259

Principal Amount		Interest Rate			Maturity Date	Value
Secured Debt Obligations – (continued)
Commercial Services(d)(e) – (continued)
APX Group, Inc. (B/Ba3)
$	149,000		5.750	%	07/15/29	$   139,099
APX Group, Inc. (BB/Ba2)
	50,000		6.750		02/15/27	50,040
Garda World Security Corp. (B/B2)
	40,000		7.750		02/15/28	41,590
VT Topco, Inc. (B/B2)
	105,000		8.500		08/15/30	109,266
						1,138,679
Distribution & Wholesale(d)(e) – 0.4%
H&E Equipment Services, Inc. (BB-/B1)
	174,000		3.875		12/15/28	158,025
Diversified Financial Services(d) – 1.2%
Coinbase Global, Inc. (BB-/B1)
	210,000		3.375	(e)	10/01/28	174,716
Icahn Enterprises LP/Icahn Enterprises Finance Corp. (BB/Ba3)
	122,000		4.750		09/15/24	121,247
NFP Corp. (B/B1)
	87,000		4.875	(e)	08/15/28	86,478
OneMain Finance Corp. (BB/Ba2)
	165,000		9.000		01/15/29	174,507
						556,948
Electrical(d)(e) – 1.5%
Calpine Corp. (BB+/Ba2)
	283,000		3.750		03/01/31	249,241
NRG Energy, Inc. (BB/Ba2)
	50,000		3.375		02/15/29	44,174
	131,000		3.625		02/15/31	112,686
Pike Corp. (B-/B3)
	257,000		5.500		09/01/28	244,813
						650,914
Electrical Components & Equipment(d)(e) – 0.3%
WESCO Distribution, Inc. (BB/Ba3)
	138,000		7.250		06/15/28	141,807
Electronics(d)(e) – 0.0%
Sensata Technologies, Inc. (BB+/Ba2)
	17,000		3.750		02/15/31	14,981
Engineering & Construction(d)(e) – 0.5%
Global Infrastructure Solutions, Inc. (BB-/B1)
	257,000		5.625		06/01/29	236,204
Entertainment(d)(e) – 0.9%
Caesars Entertainment, Inc. (B+/Ba3)
	175,000		7.000		02/15/30	179,916
Cinemark USA, Inc. (B+/B3)
	120,000		5.875		03/15/26	117,894
SeaWorld Parks & Entertainment, Inc. (B/B2)
	115,000		5.250		08/15/29	107,841
						405,651
Environmental(d)(e) – 0.3%
Stericycle, Inc. (BB-/NR)
	138,000		3.875		01/15/29	125,732

GOLDMAN SACHS LONG SHORT CREDIT STRATEGIES FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date		Value
Secured Debt Obligations – (continued)
Food & Drug Retailing(d)(e) – 0.9%
Performance Food Group, Inc. (BB/B2)
$	93,000		4.250	%		08/01/29	$   85,333
Post Holdings, Inc. (B+/B2)
	51,000		5.500			12/15/29	49,254
U.S. Foods, Inc. (BB-/B2)
	176,000		4.750			02/15/29	167,425
	84,000		4.625			06/01/30	78,291
							380,303
Forest Products & Paper(d)(e) – 0.2%
Glatfelter Corp. (CCC/Caa1)
	122,000		4.750			11/15/29	84,545
Health Care - Services(d)(e) – 0.1%
LifePoint Health, Inc. (B/B2)
	60,000		11.000			10/15/30	63,291
Healthcare Providers & Services(d)(e) – 0.5%
Medline Borrower LP (B+/B1)
	269,000		3.875			04/01/29	243,311
Home Builders(d) – 1.1%
Brookfield Residential Properties, Inc./Brookfield Residential U.S. LLC (B+/B1)
	141,000		4.875	(e)		02/15/30	124,395
Century Communities, Inc. (BB/Ba2)
	220,000		3.875	(e)		08/15/29	199,027
KB Home (BB/Ba2)
	82,000		7.250			07/15/30	85,243
LGI Homes, Inc. (BB-/Ba2)
	108,000		4.000	(e)		07/15/29	93,525
							502,190
Housewares(d) – 0.3%
Scotts Miracle-Gro Co. (B-/B2)
	149,000		4.375			02/01/32	127,326
Insurance(d)(e) – 1.1%
Acrisure LLC/Acrisure Finance, Inc. (B/B2)
	178,000		4.250			02/15/29	162,204
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer (B/B2)
	160,000		6.750			04/15/28	163,811
HUB International Ltd. (B-/Caa2)
	164,000		7.000			05/01/26	164,240
							490,255
Internet(d)(e) – 1.1%
GrubHub Holdings, Inc. (B-/B3)
	263,000		5.500			07/01/27	220,936
Uber Technologies, Inc. (B+/B1)
	135,000		6.250			01/15/28	135,841
	147,000		4.500			08/15/29	140,219
							496,996
Iron/Steel(d)(e) – 0.3%
Cleveland-Cliffs, Inc. (BB-/Ba3)
	145,000		6.750			04/15/30	146,971

Principal Amount		Interest Rate			Maturity Date		Value
Secured Debt Obligations – (continued)
Leisure Time(d)(e) – 1.2%
Acushnet Co. (BB/Ba3)
$	15,000		7.375	%		10/15/28	$   15,668
Carnival Corp. (BB-/B3)
	231,000		7.625			03/01/26	234,959
	186,000		6.000			05/01/29	178,733
Carnival Corp. (BB+/Ba2)
	40,000		7.000			08/15/29	41,720
Carnival Corp. (BB+/Ba3)
	81,000		9.875			08/01/27	85,043
							556,123
Lodging(d)(e) – 0.8%
Hilton Grand Vacations Borrower Escrow LLC/Hilton Grand Vacations Borrower Escrow, Inc. (B+/B2)
	193,000		4.875			07/01/31	170,158
Travel & Leisure Co. (BB-/Ba3)
	191,000		4.500			12/01/29	171,039
							341,197
Machinery-Construction & Mining(d)(e) – 0.3%
Vertiv Group Corp. (BB/Ba3)
	150,000		4.125			11/15/28	140,123
Machinery-Diversified(d)(e) – 0.2%
Chart Industries, Inc. (B+/Ba3)
	100,000		7.500			01/01/30	104,667
Media(d) – 6.6%
Altice Financing SA (B/B3)
	316,000		5.000	(e)		01/15/28	287,345
Audacy Capital Corp. (D/C)
	63,000		6.500	(e)(f)		05/01/27	1,109
Cable One, Inc. (BB-/B2)
	256,000		4.000	(e)		11/15/30	207,624
CSC Holdings LLC (B/B2)
	290,000		4.500	(e)		11/15/31	219,315
DISH DBS Corp. (B/B2)
	195,000		5.250	(e)		12/01/26	167,556
DISH DBS Corp. (B-/Caa2)
	146,000		7.375			07/01/28	87,949
DISH Network Corp. (B/B2)
	195,000		11.750	(e)		11/15/27	203,416
Gray Television, Inc. (B/B3)
	140,000		7.000	(e)		05/15/27	132,418
iHeartCommunications, Inc. (CCC+/Caa3)
	154,113		8.375			05/01/27	100,007
Nexstar Media, Inc. (BB+/B2)
	261,000		4.750	(e)		11/01/28	240,530
Scripps Escrow II, Inc. (BB/Ba3)
	124,000		3.875	(e)		01/15/29	109,434
Sinclair Television Group, Inc. (BB-/Ba3)
	227,000		4.125	(e)		12/01/30	160,058
Sirius XM Radio, Inc. (BB/Ba3)
	202,000		4.125	(e)		07/01/30	180,843
TEGNA, Inc. (BB+/Ba3)
	251,000		5.000			09/15/29	230,292
UPC Holding BV (B/B3)
	200,000		5.500	(e)		01/15/28	188,634

GOLDMAN SACHS LONG SHORT CREDIT STRATEGIES FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Secured Debt Obligations – (continued)
Media(d) – (continued)
Urban One, Inc. (B-/B3)
$	62,000		7.375	%(e)	02/01/28	$   52,657
VZ Secured Financing BV (B+/B1)
	256,000		5.000	(e)	01/15/32	219,379
Ziggo Bond Co. BV (B-/B3)
	200,000		5.125	(e)	02/28/30	167,304
						2,955,870
Miscellaneous Manufacturing(d) – 0.5%
Hillenbrand, Inc. (BB+/Ba1)
	252,000		3.750		03/01/31	218,857
Oil Field Services(d) – 6.4%
Archrock Partners LP/Archrock Partners Finance Corp. (B+/B2)
	157,000		6.250	(e)	04/01/28	154,829
California Resources Corp. (BB-/B2)
	164,000		7.125	(e)	02/01/26	166,547
Callon Petroleum Co. (BB-/B2)
	77,000		7.500	(e)	06/15/30	77,823
Civitas Resources, Inc. (BB-/B1)
	105,000		8.375	(e)	07/01/28	109,816
CNX Resources Corp. (BB/B1)
	77,000		6.000	(e)	01/15/29	74,001
	90,000		7.375	(e)	01/15/31	90,932
Matador Resources Co. (BB-/B1)
	110,000		6.875	(e)	04/15/28	112,009
MEG Energy Corp. (BB-/B1)
	80,000		5.875	(e)	02/01/29	77,740
Nabors Industries Ltd. (CCC/B3)
	332,000		7.500	(e)	01/15/28	288,857
Nabors Industries, Inc. (B-/Ba3)
	239,000		7.375	(e)	05/15/27	234,435
	45,000		9.125	(e)	01/31/30	45,370
Noble Finance II LLC (BB-/B2)
	60,000		8.000	(e)	04/15/30	62,619
Permian Resources Operating LLC (BB-/B1)
	144,000		7.000	(e)	01/15/32	148,517
Southwestern Energy Co. (BB+/Ba2)
	135,000		5.375		03/15/30	131,556
	67,000		4.750		02/01/32	62,171
Southwestern Energy Co. (BB+/NR)
	124,000		5.375		02/01/29	120,738
Sunoco LP/Sunoco Finance Corp. (BB/Ba3)
	194,000		4.500		04/30/30	179,679
TechnipFMC PLC (BB+/Ba1)
	188,000		6.500	(e)	02/01/26	187,797
Transocean Poseidon Ltd. (B/B2)
	39,000		6.875	(e)	02/01/27	38,956
Transocean Titan Financing Ltd. (B/B2)
	150,000		8.375	(e)	02/01/28	155,227
Transocean, Inc. (B/B2)
	95,000		8.750	(e)	02/15/30	99,371
Transocean, Inc. (B-/Caa1)
	207,000		11.500	(e)	01/30/27	216,470
						2,835,460

Principal Amount		Interest Rate			Maturity Date	Value
Secured Debt Obligations – (continued)
Packaging(d)(e) – 0.9%
Clearwater Paper Corp. (BB-/Ba3)
$	138,000		4.750	%	08/15/28	$   128,511
Mauser Packaging Solutions Holding Co. (B/B2)
	130,000		7.875		08/15/26	132,503
Pactiv Evergreen Group Issuer LLC/Pactiv Evergreen Group Issuer, Inc. (B+/B1)
	85,000		4.375		10/15/28	79,973
Pactiv Evergreen Group Issuer, Inc./Pactiv Evergreen Group Issuer LLC (B+/B1)
	87,000		4.000		10/15/27	81,779
						422,766
Pharmaceuticals(d)(e) – 0.3%
AdaptHealth LLC (B/B1)
	84,000		6.125		08/01/28	72,524
	38,000		4.625		08/01/29	29,475
	49,000		5.125		03/01/30	38,593
						140,592
Pipelines(d) – 2.4%
DT Midstream, Inc. (BB+/Ba2)
	210,000		4.375	(e)	06/15/31	189,643
Global Partners LP/GLP Finance Corp. (B+/B2)
	124,000		6.875		01/15/29	120,183
Kinetik Holdings LP (BB+/Ba1)
	171,000		5.875	(e)	06/15/30	167,653
NuStar Logistics LP (BB-/Ba3)
	60,000		6.000		06/01/26	59,831
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp. (BB-/B1)
	107,000		6.000	(e)	12/31/30	100,365
	156,000		6.000	(e)	09/01/31	144,536
Venture Global LNG, Inc. (BB/B1)
	155,000		8.125	(e)	06/01/28	156,541
	105,000		9.500	(e)	02/01/29	111,011
						1,049,763
Retailing(d) – 4.9%
1011778 BC ULC/New Red Finance, Inc. (B+/B2)
	192,000		4.375	(e)	01/15/28	183,418
	305,000		4.000	(e)	10/15/30	274,415
Arko Corp. (B-/B3)
	211,000		5.125	(e)	11/15/29	183,059
Asbury Automotive Group, Inc. (BB/B1)
	86,000		4.500		03/01/28	81,975
	42,000		4.625	(e)	11/15/29	38,929
	132,000		4.750		03/01/30	123,215
	28,000		5.000	(e)	02/15/32	25,510
Beacon Roofing Supply, Inc. (B/B2)
	137,000		4.125	(e)	05/15/29	124,847
Foundation Building Materials, Inc. (CCC+/Caa1)
	221,000		6.000	(e)	03/01/29	199,691
Group 1 Automotive, Inc. (BB+/Ba2)
	145,000		4.000	(e)	08/15/28	134,511
Lithia Motors, Inc. (BB+/Ba2)
	191,000		4.375	(e)	01/15/31	173,873

GOLDMAN SACHS LONG SHORT CREDIT STRATEGIES FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Secured Debt Obligations – (continued)
Retailing(d) – (continued)
Murphy Oil USA, Inc. (BB+/Ba2)
$	29,000		3.750	%(e)	02/15/31	$   25,409
Penske Automotive Group, Inc. (BB-/Ba3)
	280,000		3.750		06/15/29	250,340
Sonic Automotive, Inc. (BB-/B1)
	174,000		4.625	(e)	11/15/29	158,328
	63,000		4.875	(e)	11/15/31	56,115
Specialty Building Products Holdings LLC/SBP Finance Corp. (B/B3)
	158,000		6.375	(e)	09/30/26	156,331
						2,189,966
Semiconductors(d)(e) – 0.2%
Qorvo, Inc. (BBB-/Ba1)
	114,000		3.375		04/01/31	97,919
Software(d)(e) – 1.6%
Camelot Finance SA (B+/B1)
	28,000		4.500		11/01/26	27,341
Clarivate Science Holdings Corp. (B-/Caa1)
	119,000		4.875		07/01/29	111,679
Clarivate Science Holdings Corp. (B+/B1)
	158,000		3.875		07/01/28	148,773
Open Text Corp. (BB-/Ba3)
	122,000		3.875		02/15/28	113,172
	159,000		3.875		12/01/29	142,658
ZoomInfo Technologies LLC/ZoomInfo Finance Corp. (B+/B1)
	186,000		3.875		02/01/29	168,572
						712,195
Telecommunication Services(d)(e) – 1.2%
Altice France SA (B-/B2)
	225,000		5.125		01/15/29	174,730
	264,000		5.500		10/15/29	206,873
Frontier Communications Holdings LLC (CCC+/Caa2)
	161,000		6.750		05/01/29	143,955
						525,558
Transportation(d)(e) – 0.8%
Cargo Aircraft Management, Inc. (BB/Ba2)
	171,000		4.750		02/01/28	156,455
Rand Parent LLC (BB/Ba1)
	199,000		8.500		02/15/30	190,333
						346,788
TOTAL OTHER SECURED DEBT OBLIGATIONS						$21,976,103
TOTAL SECURED DEBT OBLIGATIONS (Cost $33,167,397)						$31,589,331
Unsecured Debt Obligations(d) – 18.9%
Advertising(e) – 0.1%
Outfront Media Capital LLC/Outfront Media Capital Corp. (B/B2)
$	46,000		4.250	%	01/15/29	$    41,473

Principal Amount		Interest Rate			Maturity Date	Value
Unsecured Debt Obligations(d) – (continued)
Automotive – 0.6%
Dana, Inc. (BB-/B1)
$	162,000		5.625	%	06/15/28	$   160,565
Dealer Tire LLC/DT Issuer LLC (CCC/Caa1)
	107,000		8.000	(e)	02/01/28	106,088
						266,653
Banks – 0.5%
Freedom Mortgage Corp. (B/B2)
	139,000		6.625	(e)	01/15/27	132,453
Wells Fargo & Co. (BB+/Baa2) (5 yr. CMT + 3.606%)
	80,000		7.625	(b)	09/15/28	83,861
						216,314
Building Materials(e) – 0.7%
CP Atlas Buyer, Inc. (CCC/Caa2)
	137,000		7.000		12/01/28	119,508
Standard Industries, Inc. (BB/B1)
	96,000		5.000		02/15/27	93,615
	95,000		4.375		07/15/30	87,164
						300,287
Chemicals(e) – 1.2%
Avient Corp. (BB-/Ba3)
	102,000		7.125		08/01/30	105,772
Olympus Water U.S. Holding Corp. (CCC+/Caa2)
	229,000		6.250		10/01/29	204,348
Vibrantz Technologies, Inc. (CCC+/Caa2)
	102,000		9.000		02/15/30	80,252
WR Grace Holdings LLC (CCC/B3)
	185,000		5.625		08/15/29	163,396
						553,768
Commercial Services(e) – 0.1%
Metis Merger Sub LLC (CCC/Caa2)
	41,000		6.500		05/15/29	37,120
Computers(e) – 0.1%
Virtusa Corp. (CCC+/Caa1)
	39,000		7.125		12/15/28	33,520
Distribution & Wholesale(e) – 0.3%
American Builders & Contractors Supply Co., Inc. (B+/B1)
	148,000		3.875		11/15/29	131,914
Diversified Financial Services – 3.0%
Castlelake Aviation Finance DAC (B+/B2)
	116,000		5.000	(e)	04/15/27	108,881
Global Aircraft Leasing Co. Ltd. (NR/B2) (PIK 7.250%, Cash 6.500%)
	101,529		6.500	(e)(g)	09/15/24	95,597
Macquarie Airfinance Holdings Ltd. (BB+/NR)
	80,000		8.125	(e)	03/30/29	83,664
Navient Corp. (B+/Ba3)
	134,000		4.875		03/15/28	124,550
	118,000		5.500		03/15/29	108,866
	85,000		9.375		07/25/30	89,555
NFP Corp. (CCC+/Caa2)
	224,000		6.875	(e)	08/15/28	227,846

GOLDMAN SACHS LONG SHORT CREDIT STRATEGIES FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Unsecured Debt Obligations(d) – (continued)
Diversified Financial Services – (continued)
United Wholesale Mortgage LLC (NR/Ba3)
$	138,000		5.500	%(e)	04/15/29	$   130,610
VistaJet Malta Finance PLC/Vista Management Holding, Inc. (B-/B3)
	243,000		7.875	(e)	05/01/27	210,375
	235,000		6.375	(e)	02/01/30	164,204
						1,344,148
Engineering & Construction(e) – 0.5%
Global Infrastructure Solutions, Inc. (BB-/B1)
	241,000		7.500		04/15/32	223,154
Entertainment(e) – 0.4%
Boyne USA, Inc. (B/B1)
	120,000		4.750		05/15/29	113,138
Caesars Entertainment, Inc. (B/B3)
	88,000		4.625		10/15/29	79,556
						192,694
Healthcare Providers & Services(e) – 0.4%
Medline Borrower LP (B-/Caa1)
	210,000		5.250		10/01/29	198,318
Insurance(e) – 0.3%
Acrisure LLC/Acrisure Finance, Inc. (CCC+/Caa2)
	90,000		6.000		08/01/29	81,835
USI, Inc. (CCC+/Caa1)
	45,000		7.500		01/15/32	46,067
						127,902
Internet(e) – 1.7%
Match Group Holdings II LLC (BB/Ba3)
	242,000		4.625		06/01/28	232,071
	590,000		4.125		08/01/30	536,782
						768,853
Leisure Time(e) – 1.1%
MajorDrive Holdings IV LLC (CCC+/Caa2)
	148,000		6.375		06/01/29	128,594
NCL Corp. Ltd. (CCC+/Caa1)
	71,000		3.625		12/15/24	69,028
Royal Caribbean Cruises Ltd. (BB-/B1)
	157,000		4.250		07/01/26	151,640
	143,000		5.500		04/01/28	141,113
						490,375
Lodging(e) – 0.3%
Hilton Grand Vacations Borrower Escrow LLC/Hilton Grand Vacations Borrower Escrow, Inc. (B+/B2)
	139,000		5.000		06/01/29	128,282
Machinery-Diversified(e) – 0.9%
Titan Acquisition Ltd./Titan Co.-Borrower LLC (CCC/Caa2)
	419,000		7.750		04/15/26	421,577
Media(e) – 1.8%
CCO Holdings LLC/CCO Holdings Capital Corp. (BB-/B1)
	420,000		4.750		03/01/30	384,191
	320,000		4.250		01/15/34	260,221

Principal Amount		Interest Rate			Maturity Date	Value
Unsecured Debt Obligations(d) – (continued)
Media(e) – (continued)
GCI LLC (B+/B3)
$	190,000		4.750	%	10/15/28	$   175,301
						819,713
Metal Fabricate & Hardware(e) – 0.2%
Roller Bearing Co. of America, Inc. (B+/B1)
	107,000		4.375		10/15/29	99,330
Oil Field Services(e) – 0.7%
CrownRock LP/CrownRock Finance, Inc. (BB-/B1)
	84,000		5.000		05/01/29	82,095
Sitio Royalties Operating Partnership LP/Sitio Finance Corp. (B/B3)
	95,000		7.875		11/01/28	98,256
Viper Energy, Inc. (BBB-/Ba3)
	125,000		7.375		11/01/31	130,091
						310,442
Pharmaceuticals(e) – 0.4%
Organon & Co./Organon Foreign Debt Co.-Issuer BV (BB-/B1)
	200,000		5.125		04/30/31	170,488
Pipelines(e) – 1.0%
EQM Midstream Partners LP (BB-/Ba3)
	71,000		7.500		06/01/27	73,285
Howard Midstream Energy Partners LLC (B+/B2)
	217,000		6.750		01/15/27	215,642
	130,000		8.875		07/15/28	136,916
						425,843
Real Estate Investment Trust – 0.4%
SBA Communications Corp. (BB/Ba3)
	198,000		3.125		02/01/29	178,222
Retailing(e) – 1.0%
Ken Garff Automotive LLC (BB-/B1)
	147,000		4.875		09/15/28	139,554
LCM Investments Holdings II LLC (B+/B2)
	218,000		4.875		05/01/29	202,965
Lithia Motors, Inc. (BB+/Ba2)
	93,000		3.875		06/01/29	84,325
						426,844
Software(e) – 0.4%
AthenaHealth Group, Inc. (CCC/Caa2)
	136,000		6.500		02/15/30	123,408
Castle U.S. Holding Corp. (CCC-/Caa2)
	111,000		9.500		02/15/28	57,147
						180,555
Telecommunication Services(e) – 0.8%
Viasat, Inc. (B-/Caa1)
	348,000		5.625		09/15/25	340,326
TOTAL UNSECURED DEBT OBLIGATIONS (Cost $8,901,314)						$  8,428,115

GOLDMAN SACHS LONG SHORT CREDIT STRATEGIES FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Shares		Description	Value
	Common Stocks – 0.5%
	Energy Equipment & Services – 0.4%
	3,489	Noble Corp. PLC	$   168,030
	Oil, Gas & Consumable Fuels(f) – 0.1%
	1,141,924	Prairie Provident Resources, Inc.	60,326
	TOTAL COMMON STOCKS (Cost $2,968,823)		$   228,356
Shares		Dividend Rate	Value
	Investment Company(h) – 5.9%
	Goldman Sachs Financial Square Government Fund — Institutional Shares
	2,621,210	5.248%	$ 2,621,210
	(Cost $2,621,210)
	TOTAL INVESTMENTS – 96.0% (Cost $47,658,744)		$42,867,012
	OTHER ASSETS IN EXCESS OF  LIABILITIES – 4.0%		$ 1,807,446
	NET ASSETS – 100.0%		$44,674,458

The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.

(a)	Bank Loans often require prepayments from excess cash flows or permit the borrower to repay at its election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. As bank loan positions may involve multiple underlying tranches for which the aggregate position is presented, the stated interest rate represents the weighted average interest rate of all contracts on December 31, 2023. Bank Loans typically have rates of interest which are predetermined either daily, monthly, quarterly or semi-annually by reference to a base lending rate, plus a premium. These base lending rates are primarily the Secured Overnight Financing Rate (“SOFR”), and secondarily the prime rate offered by one or more major United States banks (the “Prime Rate”) and the certificate of deposit (“CD”) rate or other base lending rates used by commercial lenders.
(b)	Variable rate security. Except for floating rate notes (for which final maturity is disclosed), maturity date disclosed is the next interest reset date. Interest rate disclosed is that which is in effect on December 31, 2023.
(c)	Significant unobservable inputs were used in the valuation of this portfolio security; i.e., Level 3.
(d)	Security with “Call” features with resetting interest rates. Maturity dates disclosed are the final maturity dates.
(e)	Exempt from registration under Rule 144A of the Securities Act of 1933.
(f)	Security is currently in default and/or non-income producing.
(g)	Pay-in-kind securities.
(h)	Represents an affiliated Issuer.
Security ratings disclosed, if any, are obtained from S&P’s /Moody’s Investor Service and are unaudited. A brief description of the ratings is available in the Fund’s Statement of Additional Information.

GOLDMAN SACHS LONG SHORT CREDIT STRATEGIES FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS — At December 31, 2023, the Fund had the following forward foreign currency exchange contracts:

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS WITH UNREALIZED LOSS

Counterparty	Currency Purchased		Currency Sold		Settlement Date		Unrealized Loss
MS & Co. Int. PLC	USD	240,314	EUR	221,421		02/14/24	$	(4,567	)

SWAP CONTRACTS — At December 31, 2023, the Fund had the following swap contracts:

CENTRALLY CLEARED INTEREST RATE SWAP CONTRACTS

Payments Made by the Fund(a)	Payments Received by Fund(a)	Termination Date	Notional Amount (000s)(b)		Market Value	Upfront Premium (Received) Paid			Unrealized Appreciation/ (Depreciation)
4.250%	12M SOFR	03/20/31	$	2,250	$(117,006)	$	(114,510	)	$	(2,496	)

(a) Payments made annually.

(b) Represents forward starting interest rate swaps whose effective dates of commencement of accruals and cash flows occur subsequent to December 31, 2023.

CENTRALLY CLEARED CREDIT DEFAULT SWAP CONTRACTS

Referenced Obligation/Index	Financing Rate Received/(Paid) by the Fund(a)	Credit Spread at December 31, 2023(b)			Termination Date	Notional Amount (000s)	Value			Upfront Premiums (Received) Paid			Unrealized Appreciation/ (Depreciation)
Protection Purchased:
CDX.NA.HY Index 41	(5.000)%		3.559	%	12/20/28	$8,910	$	(536,099	)	$	(72,730	)	$	(463,369	)

(a) Payments made quarterly.

(b) Credit spread on the referenced obligation, together with the term of the swap contract, are indicators of payment/performance risk. The likelihood of a credit event occurring which would require a fund or its counterparty to make a payment or otherwise be required to perform under the swap contract is generally greater as the credit spread and the term of the swap contract increase.

Currency Abbreviations:
EUR	— Euro
USD	— U.S. Dollar
Investment Abbreviations:
CMT	— Constant Maturity Treasury Indexes
EURIBOR	— Euro Interbank Offered Rate
LIBOR	— London Interbank Offered Rate
LLC	— Limited Liability Company
LP	— Limited Partnership
NR	— Not Rated
PIK	— Payment in kind
PLC	— Public Limited Company
SOFR	— Secured Overnight Financing Rate
USD	— U.S. Dollar
WR	— Withdrawn Rating
Abbreviations:
CDX.NA.HY Ind 41	— CDX North America High Yield Index 41
MS & Co. Int. PLC	— Morgan Stanley & Co. International PLC
SOFR	— Secured Overnight Financing Rate

GOLDMAN SACHS STRATEGIC INCOME FUND

Schedule of Investments

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Obligations – 47.9%
Collateralized Mortgage Obligations – 7.9%
Interest Only(a) –1.6%
Federal Home Loan Mortgage Corp. REMICS Series 4468, Class SY (-1X 30 day USD SOFR Average + 5.986%)
$	3,598,903		0.647	%(b)	05/15/45	$    390,998
Federal Home Loan Mortgage Corp. REMICS Series 5012, Class DI
	1,764,546		4.000		09/25/50	348,032
Federal Home Loan Mortgage Corp. REMICS Series 5020, Class IH
	601,545		3.000		08/25/50	98,747
Federal Home Loan Mortgage Corp. REMICS Series 5148, Class AI
	8,334,948		2.500		10/25/51	899,779
Federal National Mortgage Association REMICS Series 2011-100, Class S (-1X 30 day USD SOFR Average + 6.336%)
	2,138,885		0.998	(b)	10/25/41	227,792
Federal National Mortgage Association REMICS Series 2012-88, Class SB (-1X 30 day USD SOFR Average + 6.556%)
	2,041,440		1.218	(b)	07/25/42	195,873
Federal National Mortgage Association REMICS Series 2017-104, Class SB (-1X 30 day USD SOFR Average + 6.036%)
	858,275		0.698	(b)	01/25/48	93,466
Federal National Mortgage Association REMICS Series 2020-60, Class NI
	1,638,742		4.000		09/25/50	323,219
Government National Mortgage Association REMICS Series 2010-35, Class DS (-1X 1 mo. USD Term SOFR + 5.566%)
	2,757,060		0.208	(b)(c)	03/20/40	223,699
Government National Mortgage Association REMICS Series 2013-103, Class DS (-1X 1 mo. USD Term SOFR + 6.036%)
	3,446,253		0.678	(b)(c)	07/20/43	336,871
Government National Mortgage Association REMICS Series 2013-117, Class PS (-1X 1 mo. USD Term SOFR + 6.036%)
	3,995,721		0.678	(b)(c)	04/20/43	281,810
Government National Mortgage Association REMICS Series 2014-11, Class NI
	999,797		4.500	(c)	12/16/42	51,872
Government National Mortgage Association REMICS Series 2014-132, Class SL (-1X 1 mo. USD Term SOFR + 5.986%)
	3,831,845		0.628	(b)(c)	10/20/43	198,853
Government National Mortgage Association REMICS Series 2015-168, Class SD (-1X 1 mo. USD Term SOFR + 6.086%)
	6,900,373		0.728	(b)(c)	11/20/45	775,659
Government National Mortgage Association REMICS Series 2014-180, Class PI
	2,645,669		4.000	(c)	08/20/44	357,832
Government National Mortgage Association REMICS Series 2015-133, Class SA (-1X 1 mo. USD Term SOFR + 5.586%)
	1,226,287		0.228	(b)(c)	09/20/45	105,371

Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Obligations – (continued)
Interest Only(a) – (continued)
Government National Mortgage Association REMICS Series 2015-133, Class SB (-1X 1 mo. USD Term SOFR + 5.586%)
$	1,576,186		0.228	%(b)(c)	09/20/45	$    135,622
Government National Mortgage Association REMICS Series 2015-129, Class IC
	952,861		4.500	(c)	09/16/45	174,813
Government National Mortgage Association REMICS Series 2015-111, Class SM (-1X 1 mo. USD Term SOFR + 6.086%)
	3,378,579		0.728	(b)(c)	08/20/45	379,105
Government National Mortgage Association REMICS Series 2015-144, Class QS (-1X 1 mo. USD Term SOFR + 5.586%)
	4,063,241		0.228	(b)(c)	10/20/45	327,059
Government National Mortgage Association REMICS Series 2015-126, Class LS (-1X 1 mo. USD Term SOFR + 6.086%)
	2,178,262		0.728	(b)(c)	09/20/45	238,897
Government National Mortgage Association REMICS Series 2016-6, Class S (-1X 1 mo. USD Term SOFR + 5.536%)
	5,149,875		0.178	(b)(c)	01/20/46	409,530
Government National Mortgage Association REMICS Series 2017-112, Class SJ (-1X 1 mo. USD Term SOFR + 5.546%)
	977,736		0.188	(b)(c)	07/20/47	86,487
Government National Mortgage Association REMICS Series 2018-7, Class DS (-1X 1 mo. USD Term SOFR + 5.586%)
	1,099,595		0.228	(b)(c)	01/20/48	101,697
Government National Mortgage Association REMICS Series 2018-67, Class PS (-1X 1 mo. USD Term SOFR + 6.086%)
	1,641,429		0.728	(b)(c)	05/20/48	179,338
Government National Mortgage Association REMICS Series 2018-124, Class SN (-1X 1 mo. USD Term SOFR + 6.086%)
	1,449,354		0.728	(b)(c)	09/20/48	152,144
Government National Mortgage Association REMICS Series 2018-122, Class HS (-1X 1 mo. USD Term SOFR + 6.086%)
	696,570		0.728	(b)(c)	09/20/48	75,094
Government National Mortgage Association REMICS Series 2018-139, Class SQ (-1X 1 mo. USD Term SOFR + 6.036%)
	972,036		0.678	(b)(c)	10/20/48	97,120
Government National Mortgage Association REMICS Series 2019-6, Class SA (-1X 1 mo. USD Term SOFR + 5.936%)
	384,765		0.578	(b)(c)	01/20/49	38,913
Government National Mortgage Association REMICS Series 2019-1, Class SN (-1X 1 mo. USD Term SOFR + 5.936%)
	1,096,131		0.578	(b)(c)	01/20/49	107,972

GOLDMAN SACHS STRATEGIC INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Obligations – (continued)
Interest Only(a) – (continued)
Government National Mortgage Association REMICS Series 2019-78, Class SE (-1X 1 mo. USD Term SOFR + 5.986%)
$	675,922		0.628	%(b)(c)	06/20/49	$     64,959
Government National Mortgage Association REMICS Series 2019-151, Class NI
	2,418,957		3.500	(c)	10/20/49	381,250
Government National Mortgage Association REMICS Series 2020-21, Class SA (-1X 1 mo. USD Term SOFR + 5.936%)
	2,975,290		0.578	(b)(c)	02/20/50	342,917
Government National Mortgage Association REMICS Series 2020-61, Class SF (-1X 1 mo. USD Term SOFR + 6.326%)
	4,614,738		0.968	(b)(c)	07/20/43	527,726
Government National Mortgage Association REMICS Series 2020-78, Class DI
	3,411,084		4.000	(c)	06/20/50	659,446
Government National Mortgage Association REMICS Series 2020-146, Class KI
	8,707,881		2.500	(c)	10/20/50	1,182,675
Government National Mortgage Association REMICS Series 2020-146, Class IM
	1,204,173		2.500	(c)	10/20/50	160,928
						10,733,565
Regular Floater(b) – 0.2%
Federal Home Loan Mortgage Corp. REMICS Series 3827, Class KF (30 day USD SOFR Average + 0.484%)
	173,007		5.823		03/15/41	171,748
Federal Home Loan Mortgage Corp. REMICS Series 3231, Class FB (30 day USD SOFR Average + 0.464%)
	134,832		5.803		10/15/36	132,709
Federal Home Loan Mortgage Corp. REMICS Series 3314, Class FC (30 day USD SOFR Average + 0.514%)
	83,882		5.853		12/15/36	82,544
Federal Home Loan Mortgage Corp. REMICS Series 3371, Class FA (30 day USD SOFR Average + 0.714%)
	143,061		6.053	(c)	09/15/37	141,658
Federal Home Loan Mortgage Corp. REMICS Series 3545, Class FA (30 day USD SOFR Average + 0.964%)
	38,975		6.303		06/15/39	39,083
Federal National Mortgage Association REMICS Series 2006-45, Class TF (30 day USD SOFR Average + 0.514%)
	265,937		5.852		06/25/36	262,340
Federal National Mortgage Association REMICS Series 2006-76, Class QF (30 day USD SOFR Average + 0.514%)
	315,990		5.852		08/25/36	311,960
Federal National Mortgage Association REMICS Series 2006-79, Class PF (30 day USD SOFR Average + 0.514%)
	316,458		5.852		08/25/36	312,136
Federal National Mortgage Association REMICS Series 2007-75, Class VF (30 day USD SOFR Average + 0.564%)
	110,530		5.902		08/25/37	109,287

Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Obligations – (continued)
Regular Floater(b) – (continued)
Federal National Mortgage Association REMICS Series 2009-84, Class WF (30 day USD SOFR Average + 1.214%)
$	37,104		6.552	%	10/25/39	$     37,554
						1,601,019
Sequential Fixed Rate(c) – 0.5%
Angel Oak Mortgage Trust Series 2022-1, Class A1
	907,703		2.881	(d)(e)	12/25/66	810,080
Residential Accredit Loans, Inc. Trust Series 2006-QS6, Class 1A13
	317,211		6.000		06/25/36	254,692
Residential Accredit Loans, Inc. Trust Series 2006-QS9, Class 1A11
	584,388		6.500		07/25/36	462,250
Residential Accredit Loans, Inc. Trust Series 2006-QS2, Class 1A9
	207,041		5.500		02/25/36	160,812
Residential Asset Securitization Trust Series 2006-A8, Class 1A1
	653,539		6.000		08/25/36	400,519
RFMSI Trust Series 2007-S9, Class 1A1
	1,629,551		6.000		10/25/37	924,813
						3,013,166
Sequential Floating Rate(c) – 5.6%
Angel Oak Mortgage Trust Series 2021-6, Class A1
	477,554		1.458	(b)(d)	09/25/66	383,165
Angel Oak Mortgage Trust Series 2020-4, Class A3
	806,005		2.805	(b)(d)	06/25/65	756,989
Angel Oak Mortgage Trust Series 2020-2, Class M1
	654,000		4.500	(b)(d)	01/26/65	592,626
Banc of America Funding Trust Series 2007-2, Class 2A1
	20,809		4.124	(b)	03/25/37	19,203
Chase Home Lending Mortgage Trust Series 2023-RPL2, Class A1
	812,771		3.250	(b)(d)	03/25/63	720,164
Countrywide Alternative Loan Trust Series 2007-16CB, Class 4A3 (1 mo. USD Term SOFR + 0.614%)
	1,713,185		5.970	(b)	08/25/37	1,114,647
Countrywide Alternative Loan Trust Series 2005-26CB, Class A1 (1 mo. USD Term SOFR + 0.614%)
	248,294		5.500	(b)	07/25/35	163,540
Countrywide Alternative Loan Trust Series 2005-64CB, Class 1A12 (1 mo. USD Term SOFR + 0.914%)
	286,924		5.500	(b)	12/25/35	237,412
Countrywide Alternative Loan Trust Series 2007-16CB, Class 1A2 (1 mo. USD Term SOFR + 0.514%)
	256,339		5.870	(b)	08/25/37	162,831
CSMC Trust Series 2021-NQM7, Class A1
	6,136,389		1.756	(b)(d)	10/25/66	5,062,509
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2020-HQA2, Class B1 (30 day USD SOFR Average + 4.214%)
	2,000,000		9.552	(b)(d)	03/25/50	2,175,122

GOLDMAN SACHS STRATEGIC INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Obligations – (continued)
Sequential Floating Rate(c) – (continued)
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2020-DNA4, Class B1 (30 day USD SOFR Average + 6.114%)
$	1,265,266		11.452	%(b)(d)	08/25/50	$  1,422,759
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2020-DNA5, Class B1 (30 day USD SOFR Average + 4.800%)
	1,533,000		10.137	(b)(d)	10/25/50	1,716,957
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2020-DNA6, Class B2 (30 day USD SOFR Average + 5.650%)
	600,000		10.987	(b)(d)	12/25/50	646,083
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2021-DNA1, Class M2 (30 day USD SOFR Average + 1.800%)
	226,118		7.137	(b)(d)	01/25/51	227,797
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2021-HQA2, Class M2 (30 day USD SOFR Average + 2.050%)
	460,000		7.387	(b)(d)	12/25/33	455,546
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2021-DNA6, Class B1 (30 day USD SOFR Average + 3.400%)
	137,000		8.737	(b)(d)	10/25/41	139,647
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2020-DNA5, Class M2 (30 day USD SOFR Average + 2.800%)
	125,066		8.137	(b)(d)	10/25/50	126,886
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2020-DNA6, Class M2 (30 day USD SOFR Average + 2.000%)
	882,829		7.337	(b)(d)	12/25/50	894,894
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2022-HQA1, Class M1B (30 day USD SOFR Average + 3.500%)
	1,845,401		8.837	(b)(d)	03/25/42	1,912,784
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2020-HQA4, Class B1 (30 day USD SOFR Average + 5.364%)
	762,290		10.702	(b)(d)	09/25/50	828,426
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2020-HQA3, Class B1 (30 day USD SOFR Average + 5.864%)
	1,171,521		11.202	(b)(d)	07/25/50	1,293,305
Federal Home Loan Mortgage Corp. STACR Trust Series 2019-HQA2, Class M2 (30 day USD SOFR Average + 2.164%)
	509,388		7.502	(b)(d)	04/25/49	512,579
Federal Home Loan Mortgage Corp. STACR Trust Series 2019-HQA3, Class M2 (30 day USD SOFR Average + 1.964%)
	54,461		7.302	(b)(d)	09/25/49	54,757

Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Obligations – (continued)
Sequential Floating Rate(c) – (continued)
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes Series 2020-HQA5, Class M2 (30 day USD SOFR Average + 2.600%)
$	318,736		7.937	%(b)(d)	11/25/50	$    324,314
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes Series 2023-HQA2, Class M1B (30 Day USD SOFR Average + 3.350%)
	1,104,000		8.687	(b)(d)	06/25/43	1,164,081
Federal National Mortgage Association Connecticut Avenue Securities Series 2020-R01, Class 1M2 (30 day USD SOFR Average + 2.164%)
	61,897		7.502	(b)(d)	01/25/40	62,661
Federal National Mortgage Association Connecticut Avenue Securities Series 2022-R03, Class 1B1 (30 day USD SOFR Average + 6.250%)
	153,000		11.587	(b)(d)	03/25/42	167,644
Federal National Mortgage Association Connecticut Avenue Securities Series 2019-R01, Class 2M2 (30 day USD SOFR Average + 2.564%)
	70,381		7.902	(b)(d)	07/25/31	70,664
Federal National Mortgage Association Connecticut Avenue Securities Series 2022-R04, Class 1B1 (30 day USD SOFR Average + 5.250%)
	433,000		10.587	(b)(d)	03/25/42	460,789
Federal National Mortgage Association Connecticut Avenue Securities Series 2022-R05, Class 2M2 (30 day USD SOFR Average + 3.000%)
	279,000		8.337	(b)(d)	04/25/42	285,689
Federal National Mortgage Association Connecticut Avenue Securities Series 2022-R05, Class 2B1 (30 day USD SOFR Average + 4.500%)
	392,000		9.837	(b)(d)	04/25/42	405,897
Federal National Mortgage Association Connecticut Avenue Securities Series 2023-R03, Class 2M2 (30 day USD SOFR Average + 3.900%)
	508,336		9.237	(b)(d)	04/25/43	544,186
Federal National Mortgage Association Connecticut Avenue Securities Series 2023-R05, Class 1M2 (30 day USD SOFR Average + 3.100%)
	250,000		8.437	(b)(d)	06/25/43	261,015
Federal National Mortgage Association Connecticut Avenue Securities Series 2023-R06, Class 1M2 (30 day USD SOFR Average + 2.700%)
	230,000		8.037	(b)(d)	07/25/43	236,864
Federal National Mortgage Association Connecticut Avenue Securities Series 2021-R02, Class 2M1 (30 day USD SOFR Average + 0.900%)
	315,967		6.237	(b)(d)	11/25/41	315,206
Federal National Mortgage Association Connecticut Avenue Securities Series 2023-R08, Class 1M2 (30 day USD SOFR Average + 2.500%)
	610,000		7.837	(b)(d)	10/25/43	623,448
Federal National Mortgage Association Connecticut Avenue Securities Series 2023-R08, Class 1B1
	1,670,000		8.887	(b)(d)	10/25/43	1,692,573

GOLDMAN SACHS STRATEGIC INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

	Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Obligations – (continued)
Sequential Floating Rate(c) – (continued)
GCAT Trust Series 2022-NQM4, Class A1
$		175,925		5.269	%(d)(e)	08/25/67	$    176,902
JP Morgan Mortgage Trust Series 2021-LTV2, Class A1
		1,309,638		2.520	(b)(d)	05/25/52	1,063,688
JP Morgan Mortgage Trust Series 2022-LTV1, Class A2
		448,167		3.520	(b)(d)	07/25/52	380,364
JP Morgan Mortgage Trust Series 2023-2, Class A3A
		1,718,607		5.000	(b)(d)	07/25/53	1,673,560
JP Morgan Mortgage Trust Series 2023-10, Class A6
		733,645		6.000	(b)(d)	05/25/54	732,695
Mill City Mortgage Loan Trust Series 2017-2, Class A3
		395,639		3.235	(b)(d)	07/25/59	379,312
OBX Trust Series 2022-NQM7, Class A1
		172,078		5.110	(d)(e)	08/25/62	171,876
Residential Accredit Loans, Inc. Trust Series 2006-QO7, Class 3A2 (1 mo. USD Term SOFR + 0.524%)
		65,347		5.880	(b)	09/25/46	57,307
Residential Mortgage Loan Trust Series 2020-2, Class A3
		152,000		2.911	(b)(d)	05/25/60	139,188
STACR Trust Series 2018-HRP2, Class B1
		1,100,000		9.652	(b)(d)	02/25/47	1,203,182
Towd Point Mortgage Trust Series 2020-1, Class A2A
		550,000		3.100	(b)(d)	01/25/60	479,126
Verus Securitization Trust Series 2021-5, Class A3
		964,666		1.373	(b)(d)	09/25/66	789,510
Verus Securitization Trust Series 2021-7, Class A2
		1,485,089		2.137	(b)(d)	10/25/66	1,236,257
							36,718,626
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS							$ 52,066,376
Commercial Mortgage-Backed Securities – 8.1%
Sequential Fixed Rate – 5.2%
3650R Commercial Mortgage Trust Series 2021-PF1, Class AS
$		1,050,000		2.778	%(b)	11/15/54	$    848,253
Bank Series 2022-BNK39, Class A4
		2,400,000		2.928	(b)(c)	02/15/55	2,072,882
Bank Series 2021-BN38, Class A5
		1,050,000		2.521	(c)	12/15/64	873,574
Bank Series 2023-BNK46, Class A4
		600,000		5.745	(c)	08/15/56	632,841
Bank5 Series 2023-5YR4, Class A3
		900,000		6.500	(c)	12/15/56	951,513
BBCMS Mortgage Trust Series 2021-C9, Class A5
		1,600,000		2.299	(c)	02/15/54	1,342,326
BBCMS Mortgage Trust Series 2023-C20, Class ASB
		1,229,000		5.860	(c)	07/15/56	1,265,474
BBCMS Mortgage Trust Series 2023-C20, Class A3
		1,600,000		5.991	(c)	07/15/56	1,642,610
Benchmark Mortgage Trust Series 2022-B33, Class A5
		1,125,000		3.458	(c)	03/15/55	991,555
Benchmark Mortgage Trust Series 2021-B29, Class A5
		1,450,000		2.388	(c)	09/15/54	1,200,732

	Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Obligations – (continued)
Sequential Fixed Rate – (continued)
Benchmark Mortgage Trust Series 2020-B21, Class A5
$		1,000,000		1.978	%(c)	12/17/53	$    809,048
Benchmark Mortgage Trust Series 2021-B26, Class A5
		1,375,000		2.613	(c)	06/15/54	1,120,961
Benchmark Mortgage Trust Series 2023-B39, Class A5
		1,250,000		5.754	(c)	07/15/56	1,313,508
BMO Mortgage Trust Series 2023-C5, Class A5
		1,600,000		5.765	(c)	06/15/56	1,684,251
BMO Mortgage Trust Series 2023-C5, Class ASB
		1,600,000		5.995	(c)	06/15/56	1,658,675
BMO Mortgage Trust Series 2023-C7, Class A5
		2,500,000		6.160	(c)	12/15/56	2,712,847
BX Trust Series 2022-CLS, Class A
		2,000,000		5.760	(d)	10/13/27	1,994,202
Citigroup Commercial Mortgage Trust Series 2017-P8, Class D
		1,000,000		3.000	(c)(d)	09/15/50	690,924
CSAIL Commercial Mortgage Trust Series 2015-C3, Class A4
		1,300,000		3.718	(c)	08/15/48	1,252,093
GS Mortgage Securities Trust Series 2017-GS7, Class A4
		1,000,000		3.430	(c)	08/10/50	923,385
GS Mortgage Securities Trust Series 2017-GS8, Class A4
		1,600,000		3.469	(c)	11/10/50	1,488,001
Manhattan West Mortgage Trust Series 2020-1MW, Class A
		1,100,000		2.130	(d)	09/10/39	971,263
Morgan Stanley Capital I Trust Series 2019-H7, Class A4
		1,500,000		3.261	(c)	07/15/52	1,351,785
MSWF Commercial Mortgage Trust Series 2023-2, Class A2
		1,575,000		6.890	(c)	12/15/56	1,648,986
Wells Fargo Commercial Mortgage Trust Series 2017-RC1, Class D
		756,000		3.250	(c)(d)	01/15/60	578,827
Wells Fargo Commercial Mortgage Trust Series 2021-C59, Class A5
		1,500,000		2.626	(c)	04/15/54	1,272,845
Wells Fargo Commercial Mortgage Trust Series 2020-C58, Class A4
		1,575,000		2.092	(c)	07/15/53	1,300,252
							34,593,613
Sequential Floating Rate(b) – 2.9%
Bank Series 2018-BN13, Class A5
		1,600,000		4.217	(c)	08/15/61	1,530,015
Bank5 Series 2023-5YR2, Class A3
		1,500,000		6.656	(c)	07/15/56	1,588,054
Bank5 Series 2023-5YR3, Class AS
		1,850,000		7.315	(c)	09/15/56	1,946,918
Bank5 Series 2023-5YR4, Class AS
		400,000		7.274	(c)	12/15/56	417,977
BBCMS Mortgage Trust Series 2023-C21, Class AS
		1,075,000		6.296	(c)	09/15/56	1,112,632
BBCMS Mortgage Trust Series 2023-C22, Class A5
		1,275,000		6.804	(c)	11/15/56	1,454,071
BBCMS Mortgage Trust Series 2023-5C23, Class A3
		2,000,000		6.675	(c)	12/15/56	2,132,417

GOLDMAN SACHS STRATEGIC INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Mortgage-Backed Obligations – (continued)
Sequential Floating Rate(b) – (continued)
BBCMS Mortgage Trust Series 2023-5C23, Class AS
$	700,000		7.703	%(c)	12/15/56	$    746,637
BLP Commercial Mortgage Trust Series 2023-IND, Class A (1 mo. USD Term SOFR + 1.692%)
	700,000		7.054	(d)	03/15/40	699,060
BMO Mortgage Trust Series 2022-C2, Class A5
	1,361,000		4.813		07/15/54	1,347,687
BX Commercial Mortgage Trust Series 2023-VLT2, Class A (1 mo. USD Term SOFR + 2.281%)
	700,000		7.643	(d)	06/15/40	698,303
BX Trust Series 2022-PSB, Class A (1 mo. USD Term SOFR + 2.451%)
	3,410,208		7.813	(d)	08/15/39	3,408,345
BX Trust Series 2021-LBA, Class AV (1 mo. USD Term SOFR + 0.914%)
	838,258		6.277	(d)	02/15/36	824,362
Citigroup Commercial Mortgage Trust Series 2023-PRM3, Class A
	1,100,000		6.360	(d)	07/10/28	1,129,721
Morgan Stanley Capital I Trust Series 2022-L8, Class A5
	125,000		3.794	(c)	04/15/55	114,275
						19,150,474
TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES						$53,744,087
Federal Agencies – 31.9%
Federal Home Loan Mortgage Corp. – 0.1%
$	10,065		5.000	%	01/01/33	$     10,159
	282		5.000		03/01/33	285
	3,888		5.000		04/01/33	3,924
	468		5.000		05/01/33	471
	1,605		5.000		06/01/33	1,619
	10,295		5.000		07/01/33	10,388
	15,951		5.000		08/01/33	16,103
	1,698		5.000		09/01/33	1,717
	3,581		5.000		10/01/33	3,614
	6,243		5.000		11/01/33	6,300
	3,421		5.000		12/01/33	3,452
	3,092		5.000		01/01/34	3,120
	10,067		5.000		02/01/34	10,160
	5,599		5.000		03/01/34	5,656
	9,533		5.000		04/01/34	9,632
	11,720		5.000		05/01/34	11,828
	165,810		5.000		06/01/34	167,341
	4,543		5.000		11/01/34	4,590
	41,389		5.000		04/01/35	41,764
	12		5.000		11/01/35	12
						312,135
Government National Mortgage Association – 17.9%
	7,854,710		4.500		12/20/48	7,742,976
	2,949,983		5.000		12/20/48	2,961,449
	4,493,108		4.500		01/20/49	4,427,789
	1,800,128		2.500		10/20/51	1,563,061

Principal Amount		Interest Rate			Maturity Date			Value
Mortgage-Backed Obligations – (continued)
Government National Mortgage Association – (continued)
$	2,256,522		2.500	%		11/20/51		$  1,957,940
	5,049,703		2.500			12/20/51		4,377,779
	966,879		2.500			01/20/52		835,014
	43,000,000		5.000			TBA-30yr	(f)	42,738,900
	7,000,000		5.500			TBA-30yr	(f)	7,043,426
	23,000,000		6.000			TBA-30yr	(f)	23,376,121
	21,000,000		6.500			TBA-30yr	(f)	21,492,824
								118,517,279
Uniform Mortgage-Backed Security – 13.9%
	15,720		4.500			08/01/37		15,676
	3,134		4.500			04/01/39		3,129
	5,153		4.000			08/01/39		5,010
	2,177		4.000			09/01/39		2,117
	17,314		4.500			10/01/39		17,255
	2,158		4.500			05/01/41		2,154
	9,033		4.500			06/01/41		9,017
	8,479		4.500			08/01/41		8,463
	2,713		4.500			10/01/41		2,708
	653		4.500			11/01/42		655
	11,387		4.500			12/01/43		11,378
	453,736		4.500			11/01/48		447,410
	82,577		4.500			01/01/49		81,323
	390,163		4.500			06/01/49		384,235
	142,132		4.500			06/01/49		139,716
	429,261		4.500			08/01/49		421,934
	5,368,835		5.000			10/01/49		5,389,153
	372,869		4.500			01/01/50		366,531
	7,504,409		4.500			03/01/50		7,432,762
	4,752,933		5.000			03/01/50		4,770,920
	19,934,085		2.000			04/01/52		16,279,275
	15,271,183		2.000			04/01/52		12,471,292
	931,553		6.000			01/01/53		960,602
	924,113		6.000			01/01/53		946,577
	5,509,710		6.000			01/01/53		5,609,207
	1,908,916		5.500			04/01/53		1,937,673
	947,050		6.000			04/01/53		979,838
	940,828		6.000			04/01/53		970,166
	954,819		6.000			04/01/53		980,118
	13,000,000		7.000			TBA-30yr	(f)	13,407,781
	17,000,000		7.000			TBA-30yr	(f)	17,527,940
								91,582,015
TOTAL FEDERAL AGENCIES								$210,411,429
TOTAL MORTGAGE-BACKED OBLIGATIONS (Cost $315,118,062)								$316,221,892
Corporate Obligations – 23.4%
Advertising(c) – 0.2%
Lamar Media Corp.
$	765,000		3.625	%		01/15/31		$    681,087

GOLDMAN SACHS STRATEGIC INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

	Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Advertising(c) – (continued)
Outfront Media Capital LLC/Outfront Media Capital Corp.(d)
$		364,000		5.000	%	08/15/27	$    354,704
							1,035,791
Aerospace & Defense(c) – 0.7%
RTX Corp.
		2,175,000		6.100		03/15/34	2,358,396
TransDigm, Inc.
		650,000		5.500		11/15/27	638,079
		1,115,000		6.750	(d)	08/15/28	1,144,246
		55,000		7.125	(d)	12/01/31	57,748
Triumph Group, Inc.
		285,000		7.750		08/15/25	284,590
							4,483,059
Airlines(c)(d) – 0.2%
American Airlines, Inc.
		1,310,000		7.250		02/15/28	1,330,672
Automotive(c)(d) – 0.2%
ZF North America Capital, Inc.
		1,265,000		6.875		04/14/28	1,315,119
Banks – 3.5%
AIB Group PLC(b)(c) (-1X 5 yr. EUR Swap + 6.629%)
EUR		372,000		6.250		06/23/25	407,047
Banco do Brasil SA(b)(c) (10 yr. CMT + 4.398%)
$		1,550,000		6.250		04/15/24	1,506,104
Banco Mercantil del Norte SA(b)(c)(d) (5 yr. CMT + 4.643%)
		640,000		5.875		01/24/27	585,843
Bank of America Corp.(b)(c) (Secured Overnight Financing Rate + 1.570%)
		6,390,000		5.819		09/15/29	6,596,142
Citigroup, Inc.(b)(c) (Secured Overnight Financing Rate + 1.887%)
		3,160,000		4.658		05/24/28	3,140,155
JPMorgan Chase & Co.(b)(c) (Secured Overnight Financing Rate + 1.570%)
		3,095,000		6.087		10/23/29	3,255,631
Morgan Stanley(b)(c) (Secured Overnight Financing Rate + 1.630%)
		6,390,000		5.449		07/20/29	6,510,899
Shinhan Bank Co. Ltd.(d)
		200,000		4.500		04/12/28	198,166
Societe Generale SA(b)(c) (5 yr. USD Swap + 3.929%)
		224,000		6.750		04/06/28	199,409
UBS Group AG(b)(c)(d) (5 yr. CMT + 4.745%)
		470,000		9.250		11/13/28	506,425
Virgin Money U.K. PLC(b)(c) (5 yr. U.K. Government Bond + 8.307%)
GBP		344,000		9.250		06/08/24	438,541
							23,344,362
Building Materials(c)(d) – 0.5%
Carrier Global Corp.
$		2,225,000		5.900		03/15/34	2,408,229

	Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Building Materials(c)(d) – (continued)
Summit Materials LLC/Summit Materials Finance Corp.
$		305,000		6.500	%	03/15/27	$     305,604
		438,000		5.250		01/15/29	424,833
							3,138,666
Chemicals(c)(d) – 0.4%
Chemours Co.
		720,000		5.750		11/15/28	685,944
Ingevity Corp.
		2,086,000		3.875		11/01/28	1,874,375
							2,560,319
Commercial Services – 0.9%
ADT Security Corp.(c)(d)
		2,170,000		4.125		08/01/29	2,006,621
Allied Universal Holdco LLC/Allied Universal Finance Corp.(c)(d)
		843,000		6.625		07/15/26	839,519
DP World Crescent Ltd.
		200,000		4.848		09/26/28	198,640
		200,000		3.875		07/18/29	189,224
DP World Ltd.
		200,000		5.625		09/25/48	191,358
Herc Holdings, Inc.(c)(d)
		1,269,000		5.500		07/15/27	1,254,127
TriNet Group, Inc.(c)(d)
		745,000		3.500		03/01/29	667,721
United Rentals North America, Inc.(c)
		604,000		3.875		02/15/31	548,945
							5,896,155
Computers(c)(d) – 0.2%
KBR, Inc.
		708,000		4.750		09/30/28	657,272
Seagate HDD Cayman
		610,000		8.250		12/15/29	657,677
							1,314,949
Diversified Financial Services – 1.5%
AerCap Holdings NV(b)(c) (5 yr. CMT + 4.535%)
		508,000		5.875		10/10/79	502,178
Global Aircraft Leasing Co. Ltd.(c)(d)(g) (PIK 7.250%, Cash 6.500%)
		2,008,039		6.500		09/15/24	1,890,709
Midcap Financial Issuer Trust(c)(d)
		1,681,000		6.500		05/01/28	1,573,466
Navient Corp.
		255,000		6.750		06/25/25	258,190
		740,000		5.500	(c)	03/15/29	682,717
		1,030,000		9.375	(c)	07/25/30	1,085,198
OneMain Finance Corp.(c)
		775,000		3.875		09/15/28	686,309
		1,655,000		4.000		09/15/30	1,416,134
Rocket Mortgage LLC/Rocket Mortgage Co.-Issuer, Inc.(c)(d)
		2,120,000		2.875		10/15/26	1,965,134
							10,060,035

GOLDMAN SACHS STRATEGIC INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Electrical(c)(d) – 0.5%
Calpine Corp.
$	1,048,000		4.625	%	02/01/29	$    973,351
NRG Energy, Inc.
	760,000		3.375		02/15/29	671,445
Vistra Operations Co. LLC
	1,455,000		4.375		05/01/29	1,349,381
						2,994,177
Electronics(c)(d) – 0.6%
Imola Merger Corp.
	710,000		4.750		05/15/29	673,790
Sensata Technologies BV
	515,000		4.000		04/15/29	478,965
Sensata Technologies, Inc.
	1,659,000		4.375		02/15/30	1,544,612
TTM Technologies, Inc.
	1,485,000		4.000		03/01/29	1,348,826
						4,046,193
Energy-Alternate Sources(c)(d) – 0.1%
Greenko Dutch BV
	185,000		3.850		03/29/26	172,513
Greenko Power II Ltd.
	180,000		4.300		12/13/28	163,350
						335,863
Engineering & Construction(c) – 0.2%
Dycom Industries, Inc.(d)
	720,000		4.500		04/15/29	666,828
Mexico City Airport Trust
	320,000		4.250	(d)	10/31/26	308,170
	546,000		5.500		07/31/47	469,112
						1,444,110
Entertainment(c)(d) – 0.4%
Motion Bondco DAC
	567,000		6.625		11/15/27	525,875
WMG Acquisition Corp.
	2,205,000		3.750		12/01/29	2,017,950
						2,543,825
Environmental(c)(d) – 1.1%
GFL Environmental, Inc.
	3,270,000		3.500		09/01/28	3,008,335
Stericycle, Inc.
	730,000		3.875		01/15/29	665,103
Veralto Corp.
	2,300,000		5.450		09/18/33	2,386,250
Waste Pro USA, Inc.
	1,524,000		5.500		02/15/26	1,469,456
						7,529,144
Food & Drug Retailing(c) – 1.0%
B&G Foods, Inc.
	394,000		5.250		04/01/25	388,661

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Food & Drug Retailing(c) – (continued)
$	243,000		5.250	%	09/15/27	$    221,169
J M Smucker Co.
	2,205,000		6.200		11/15/33	2,405,236
Lamb Weston Holdings, Inc.(d)
	2,200,000		4.125		01/31/30	2,029,566
Performance Food Group, Inc.(d)
	219,000		6.875		05/01/25	220,108
	1,041,000		5.500		10/15/27	1,026,468
						6,291,208
Healthcare Providers & Services(c) – 0.4%
Charles River Laboratories International, Inc.(d)
	1,470,000		3.750		03/15/29	1,353,547
Encompass Health Corp.
	641,000		4.500		02/01/28	614,668
Tenet Healthcare Corp.
	841,000		6.125		10/01/28	837,114
						2,805,329
Holding Companies-Diversified(c)(d) – 0.2%
Benteler International AG
	1,230,000		10.500		05/15/28	1,289,630
Housewares(c) – 0.3%
Newell Brands, Inc.
	670,000		6.375		09/15/27	668,426
	1,350,000		6.625		09/15/29	1,345,882
						2,014,308
Insurance(c)(d) – 0.4%
Acrisure LLC/Acrisure Finance, Inc.
	1,449,000		7.000		11/15/25	1,445,595
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer
	730,000		6.750		10/15/27	727,503
USI, Inc.
	455,000		7.500		01/15/32	465,793
						2,638,891
Internet(c) – 0.6%
Go Daddy Operating Co. LLC/GD Finance Co., Inc.(d)
	740,000		3.500		03/01/29	670,558
Match Group Holdings II LLC(d)
	1,404,000		4.625		06/01/28	1,346,394
Prosus NV
	1,070,000		3.257		01/19/27	983,397
	850,000		3.680	(d)	01/21/30	738,969
	400,000		4.027	(d)	08/03/50	260,750
						4,000,068
Lodging(c) – 0.6%
Hilton Domestic Operating Co., Inc.
	110,000		5.375	(d)	05/01/25	109,679
	1,584,000		4.875		01/15/30	1,535,054
MGM Resorts International
	1,425,000		4.750		10/15/28	1,355,716

GOLDMAN SACHS STRATEGIC INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Lodging(c) – (continued)
Travel & Leisure Co.(d)
$	750,000		4.500	%	12/01/29	$    671,618
						3,672,067
Machinery-Diversified(c)(d) – 0.1%
Titan Acquisition Ltd./Titan Co.-Borrower LLC
	646,000		7.750		04/15/26	649,973
Media(c) – 1.5%
CCO Holdings LLC/CCO Holdings Capital Corp.(d)
	875,000		6.375		09/01/29	863,581
	1,334,000		4.250		02/01/31	1,165,449
Directv Financing LLC/Directv Financing Co.-Obligor, Inc.(d)
	720,000		5.875		08/15/27	676,073
iHeartCommunications, Inc.
	271,665		8.375		05/01/27	176,289
News Corp.(d)
	2,180,000		3.875		05/15/29	2,015,454
Nexstar Media, Inc.(d)
	784,000		5.625		07/15/27	761,335
Scripps Escrow, Inc.(d)
	887,000		5.875		07/15/27	786,964
Sirius XM Radio, Inc.(d)
	2,180,000		4.000		07/15/28	2,021,034
Virgin Media Secured Finance PLC(d)
	1,454,000		5.500		05/15/29	1,402,165
						9,868,344
Multi-National(c)(d) – 0.2%
African Export-Import Bank
	550,000		2.634		05/17/26	507,936
	850,000		3.798		05/17/31	720,528
						1,228,464
Oil Field Services – 2.5%
Civitas Resources, Inc.(c)(d)
	615,000		8.375		07/01/28	643,210
Ecopetrol SA(c)
	120,000		8.625		01/19/29	127,950
	1,890,000		6.875		04/29/30	1,861,650
	290,000		8.875		01/13/33	314,378
Nabors Industries, Inc.(c)(d)
	585,000		9.125		01/31/30	589,815
Petroleos de Venezuela SA(h)
	137,050,000		0.000		10/28/22	9,908,715
Reliance Industries Ltd.(d)
	310,000		3.625		01/12/52	225,748
Sunoco LP/Sunoco Finance Corp.(c)
	1,280,000		7.000	(d)	09/15/28	1,321,370
	710,000		4.500		05/15/29	662,607
Transocean, Inc.(c)(d)
	531,000		11.500		01/30/27	555,293
	171,000		8.750		02/15/30	178,868

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Oil Field Services – (continued)
USA Compression Partners LP/USA Compression Finance Corp.(c)
$	318,000		6.875	%	04/01/26	$    317,294
						16,706,898
Packaging(c) – 1.2%
ARD Finance SA(g)
(PIK 5.750%, Cash 5.000%)
EUR	236,165		5.000		06/30/27	130,128
(PIK 7.250%, Cash 6.500%)
$	958,594		6.500	(d)	06/30/27	447,107
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC(d)
	755,000		3.250		09/01/28	662,354
Berry Global, Inc.(d)
	524,000		4.500		02/15/26	511,471
Crown Americas LLC
	2,933,000		5.250		04/01/30	2,885,955
LABL, Inc.(d)
	231,000		6.750		07/15/26	225,218
	241,000		10.500		07/15/27	230,912
Sealed Air Corp./Sealed Air Corp. U.S.(d)
	1,960,000		6.125		02/01/28	1,979,600
Trivium Packaging Finance BV(d)
	516,000		5.500		08/15/26	507,728
	353,000		8.500		08/15/27	346,593
						7,927,066
Pharmaceuticals(c)(d) – 0.4%
Jazz Securities DAC
	1,430,000		4.375		01/15/29	1,331,931
Organon & Co./Organon Foreign Debt Co.-Issuer BV
	1,425,000		4.125		04/30/28	1,311,584
						2,643,515
Pipelines – 1.0%
Antero Midstream Partners LP/Antero Midstream Finance Corp.(c)(d)
	685,000		5.375		06/15/29	659,538
Buckeye Partners LP(c)
	640,000		4.350		10/15/24	627,277
	1,049,000		3.950		12/01/26	994,851
Galaxy Pipeline Assets Bidco Ltd.
	240,000		2.625	(d)	03/31/36	197,700
	1,828,915		2.940		09/30/40	1,504,283
	430,000		3.250	(d)	09/30/40	335,937
Global Partners LP/GLP Finance Corp.(c)
	215,000		7.000		08/01/27	210,203
Venture Global LNG, Inc.(c)(d)
	1,875,000		9.500		02/01/29	1,982,344
						6,512,133
Real Estate(c)(h) – 0.0%
Zhenro Properties Group Ltd.
	200,000		6.700		08/04/26	1,000

GOLDMAN SACHS STRATEGIC INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Real Estate Investment Trust(c) – 0.3%
Iron Mountain, Inc.(d)
$	650,000		7.000	%	02/15/29	$    670,137
MPT Operating Partnership LP/MPT Finance Corp.
	1,288,000		4.625		08/01/29	934,264
Starwood Property Trust, Inc.(d)
	705,000		4.375		01/15/27	666,260
						2,270,661
Retailing(c) – 0.6%
Asbury Automotive Group, Inc.(d)
	730,000		4.625		11/15/29	676,615
CK Hutchison International 20 Ltd.(d)
	200,000		2.500		05/08/30	174,368
CK Hutchison International 21 Ltd.(d)
	230,000		2.500		04/15/31	196,889
Group 1 Automotive, Inc.(d)
	314,000		4.000		08/15/28	291,285
LCM Investments Holdings II LLC(d)
	474,000		4.875		05/01/29	441,308
Lithia Motors, Inc.(d)
	745,000		3.875		06/01/29	675,506
Penske Automotive Group, Inc.
	942,000		3.500		09/01/25	914,117
Sonic Automotive, Inc.(d)
	750,000		4.625		11/15/29	682,448
						4,052,536
Semiconductors(c)(d) – 0.1%
Entegris Escrow Corp.
	675,000		5.950		06/15/30	670,694
Software(c) – 0.7%
Camelot Finance SA(d)
	152,000		4.500		11/01/26	148,425
Castle U.S. Holding Corp.(d)
	574,000		9.500		02/15/28	295,518
Clarivate Science Holdings Corp.(d)
	725,000		3.875		07/01/28	682,660
Open Text Corp.(d)
	2,265,000		3.875		12/01/29	2,032,203
ROBLOX Corp.(d)
	770,000		3.875		05/01/30	686,594
Twilio, Inc.
	745,000		3.625		03/15/29	679,500
						4,524,900
Telecommunication Services(c)(d) – 0.0%
Altice France SA
	218,000		5.500		01/15/28	179,275

Principal Amount		Interest Rate			Maturity Date	Value
Corporate Obligations – (continued)
Transportation(c)(d) – 0.1%
Rand Parent LLC
$	1,040,000		8.500	%	02/15/30	$    994,708
TOTAL CORPORATE OBLIGATIONS (Cost $189,375,748)						$154,314,107
Asset-Backed Securities – 10.9%
Automotive(c) – 0.9%
Bank of America Auto Trust Series 2023-2A, Class A2(d)
$	1,200,000		5.850	%	08/17/26	$  1,206,991
Ford Credit Auto Owner Trust Series 2023-C, Class A2A
	2,300,000		5.680		09/15/26	2,310,440
Santander Drive Auto Receivables Trust Series 2023-6, Class A2
	2,000,000		6.080		05/17/27	2,007,056
						5,524,487
Collateralized Loan Obligations – 9.2%
37 Capital CLO 1 Ltd. Series 2021-1A, Class A(b)(c)(d) (3 mo. USD Term SOFR + 1.462%)
	1,400,000		6.856		10/15/34	1,393,186
Apidos CLO XXIII Ltd. Series 2015-23A, Class AR(b)(c)(d) (3 mo. USD Term SOFR + 1.482%)
	2,600,000		6.876		04/15/33	2,599,904
Barings CLO Ltd. Series 2020-4A, Class D1(b)(c)(d) (3 mo. USD Term SOFR + 3.962%)
	1,000,000		9.377		01/20/32	1,000,016
Benefit Street Partners CLO XXXIII Ltd. Series 2023-33A, Class D(b)(c)(d)
	2,000,000		0.000		01/25/36	2,000,350
Cathedral Lake VII Ltd. Series 2021-7RA, Class D(b)(c)(d) (3 mo. USD Term SOFR + 4.542%)
	270,000		9.944		01/15/32	266,441
CIFC Funding Ltd. Series 2023-3A, Class E(b)(c)(d)
	1,025,000		0.000		01/20/37	1,025,000
	1,300,000		0.000		01/20/37	1,300,000
Crown City CLO I Series 2020-1A, Class A1AR(b)(c)(d) (3 mo. USD Term SOFR + 1.452%)
	2,000,000		6.867		07/20/34	1,992,866
Crown Point CLO 9 Ltd. Series 2020-9A, Class AR(b)(c)(d) (3 mo. USD Term SOFR + 1.452%)
	8,900,000		6.846		07/14/34	8,869,428
Halsey Point CLO I Ltd. Series 2019-1A, Class A1A1(b)(c)(d) (3 mo. USD Term SOFR + 1.612%)
	9,400,000		7.027		01/20/33	9,388,626
Halseypoint CLO 5 Ltd. Series 2021-5A, Class C1(b)(c)(d)
	2,000,000		7.852		01/30/35	1,974,688
Helios Issuer LLC Series 2023-GRID1, Class 1A(c)(d)
	172,172		5.750		12/20/50	175,765
JP Morgan Mortgage Trust Series 2023-HE3, Class A1(b)(c)(d) (30 day USD SOFR Average + 1.600%)
	680,000		6.937		05/25/54	680,000
LCCM Trust Series 2021-FL2, Class A(b)(c)(d) (1 mo. USD Term SOFR + 1.314%)
	1,144,273		6.676		12/13/38	1,133,764

GOLDMAN SACHS STRATEGIC INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Asset-Backed Securities – (continued)
Collateralized Loan Obligations – (continued)
Man GLG U.S. CLO Ltd. Series 2021-1A, Class A1(b)(c)(d) (3 mo. USD Term SOFR + 1.562%)
$	6,700,000		6.956	%	07/15/34	$  6,650,145
MF1 Ltd. Series 2021-FL6, Class A(b)(c)(d) (1 mo. USD Term SOFR + 1.214%)
	1,350,900		6.573		07/16/36	1,336,981
Ocean Trails CLO XI Series 2021-11A, Class D(b)(c)(d) (3 mo. USD Term SOFR + 3.962%)
	3,000,000		9.377		07/20/34	2,813,385
Palmer Square CLO Ltd. Series 2021-4A, Class E(b)(c)(d) (3 mo. USD Term SOFR + 6.312%)
	260,000		11.706		10/15/34	255,887
Stellar Jay Ireland DAC Series 2021-1, Class A(d)
	1,754,372		3.967		10/15/41	1,491,918
Tikehau U.S. CLO I Ltd. Series 2021-1A, Class E(b)(c)(d) (3 mo. USD Term SOFR + 7.172%)
	1,000,000		12.567		01/18/35	883,345
Venture 39 CLO Ltd. Series 2020-39A, Class A1(b)(c)(d) (3 mo. USD Term SOFR + 1.542%)
	6,200,000		6.936		04/15/33	6,155,112
Voya CLO Ltd. Series 2019-1A, Class AR(b)(c)(d) (3 mo. USD Term SOFR + 1.322%)
	3,350,022		6.716		04/15/31	3,349,989
Zais CLO 15 Ltd. Series 2020-15A, Class A1R(b)(c)(d) (3 mo. USD Term SOFR + 1.612%)
	4,000,000		7.002		07/28/32	3,963,364
						60,700,160
Credit Card(c) – 0.8%
Barclays Dryrock Issuance Trust Series 2023-2, Class A(b) (30 day USD SOFR Average + 0.900%)
	4,100,000		6.227		08/15/28	4,105,531
Citibank Credit Card Issuance Trust Series 2023-A1, Class A1
	1,350,000		5.230		12/08/27	1,359,265
						5,464,796
Home Equity(b)(c) – 0.0%
Lehman XS Trust Series 2007-3, Class 1BA2 (6 mo. USD Term SOFR + 0.928%)
	69,114		6.299		03/25/37	64,200
Morgan Stanley Mortgage Loan Trust Series 2006-16AX, Class 1A (1 mo. USD Term SOFR + 0.454%)
	668,643		5.810		11/25/36	123,263
						187,463
Student Loan(b)(c) – 0.0%
SLM Student Loan Trust Series 2008-3, Class A3 (90 day USD SOFR Average + 1.261%)
	17		6.596		10/25/21	17
TOTAL ASSET-BACKED SECURITIES (Cost $72,591,472)						$ 71,876,923

Principal Amount		Interest Rate			Maturity Date	Value
Bank Loans(b)(i) – 1.7%
Banks – 0.2%
Nouryon Finance BV (3 mo. USD Term SOFR + 4.000%)
$	1,279,400		9.467	%	04/03/28	$  1,282,995
Building & Construction – 0.2%
KKR Apple Bidco LLC (1 mo. USD Term SOFR + 2.750%)
	1,470,000		8.220		09/22/28	1,466,884
Consumer Cyclical Services – 0.2%
Hertz Corp.
(1 mo. USD Term SOFR + 3.250%)
	1,025,486		8.720		06/30/28	1,021,322
(1 mo. USD Term SOFR + 3.250%)
	198,220		8.720		06/30/28	197,415
						1,218,737
Health Care Products – 0.1%
Sotera Health Holdings LLC (3 mo. USD Term SOFR + 2.750%)
	425,000		8.395		12/11/26	424,290
Media – 0.3%
CSC Holdings LLC (1 mo. USD Term SOFR + 4.500%)
	1,909,237		9.862		01/18/28	1,841,230
Media - Non Cable – 0.2%
Getty Images, Inc. (3 mo. USD Term SOFR + 4.500%) (1 mo. USD LIBOR + 3.000%) – (1 mo. USD LIBOR + 7.000%)
	581,875		9.948		02/19/26	583,912
iHeartCommunications, Inc. (1 mo. USD Term SOFR + 3.000%)
	1,300,000		8.470		05/01/26	1,117,415
						1,701,327
Technology - Software – 0.5%
Camelot U.S. Acquisition LLC (1 mo. USD Term SOFR + 3.000%)
	1,970,104		8.470		10/30/26	1,971,089
Isolved, Inc. (3 mo. USD Term SOFR + 4.000%)
	600,000		9.484		10/14/30	600,000
Travelport Finance (Luxembourg) SARL (3 mo. USD Term SOFR + 7.000%)
	11,685		12.371		02/28/25	11,280
Ultimate Software Group, Inc. (3 mo. USD Term SOFR + 3.750%)
	885,688		9.233		05/04/26	887,113
						3,469,482
TOTAL BANK LOANS (Cost $11,620,818)						$ 11,404,945
Sovereign Debt Obligations – 1.4%
Euro – 0.3%
Ivory Coast Government International Bonds
EUR	530,000		4.875	%	01/30/32	$    491,844
Oman Government International Bonds
$	1,410,000		4.750		06/15/26	1,391,494
Romania Government International Bonds(d)
EUR	230,000		2.000		01/28/32	195,571

GOLDMAN SACHS STRATEGIC INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

Principal Amount		Interest Rate			Maturity Date	Value
Sovereign Debt Obligations – (continued)
Euro – (continued)
Romania Government International Bonds(d) – (continued)
EUR	200,000		3.375	%	01/28/50	$    149,925
						2,228,834
Sovereign – 0.3%
Export-Import Bank of Korea
$	200,000		5.000		01/11/28	203,604
Ivory Coast Government International Bonds
	566,000		6.125		06/15/33	519,659
Romania Government International Bonds
EUR	1,250,000		3.624	(d)	05/26/30	1,267,031
	120,000		3.375		01/28/50	89,955
						2,080,249
United States Dollar – 0.8%
Export-Import Bank of Korea
$	200,000		5.125		01/11/33	207,964
Hungary Government International Bonds
	2,680,000		6.125		05/22/28	2,787,629
Indonesia Government International Bonds(c)
	950,000		4.850		01/11/33	969,297
Oman Government International Bonds
	1,280,000		5.625		01/17/28	1,302,400
						5,267,290
TOTAL SOVEREIGN DEBT OBLIGATIONS (Cost $10,005,796)						$  9,576,373
Municipal Debt Obligations – 1.3%
Illinois – 1.3%
Illinois State GO Bonds Build America Series 2010
$	3,831,429		7.350	%	07/01/35	$  4,161,572
Illinois State GO Bonds Taxable-Pension Series 2003
	4,280,000		5.100		06/01/33	4,234,802
TOTAL MUNICIPAL DEBT OBLIGATIONS (Cost $8,401,373)						$  8,396,374

Shares		Description	Value
	Common Stocks(h) – 0.1%
	Media – 0.1%
	242,215	iHeartMedia, Inc. Class A	$    646,714
	TOTAL COMMON STOCKS (Cost $641,642)		$    646,714

Principal Amount		Interest Rate		Maturity Date	Value
U.S. Treasury Obligations – 25.2%
U.S. Treasury Bonds
$	500,000		4.375%	05/15/41	$    516,016

Principal Amount		Interest Rate			Maturity Date	Value
U.S. Treasury Obligations – (continued)
$	500,000		3.625	%	02/15/53	$    462,891
U.S. Treasury Inflation-Indexed Bonds
	14,511,541		1.500		02/15/53	13,208,399
U.S. Treasury Notes
	39,010,000		4.250	(j)	10/15/25	38,941,428
	32,710,000		3.875		01/15/26	32,467,231
	19,246,200		3.875		09/30/29	19,217,631
	30,840,000		4.000		10/31/29	31,001,428
	31,040,000		3.875		11/30/29	30,998,775
TOTAL U.S. TREASURY OBLIGATIONS (Cost $167,158,104)						$166,813,799

Shares	Dividend Rate			Value
Investment Company(k) – 0.4%
Goldman Sachs Financial Square Government Fund — Institutional Shares
2,506,747		5.248	%	$  2,506,747
(Cost $2,506,747)
TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS – 112.3% (Cost $777,419,762)				$741,757,874

Principal Amount		Interest Rate		Maturity Date	Value
Short-term Investments – 1.2%
Certificates of Deposit – 1.2%
Banco Santander SA(b) (Secured Overnight Financing Rate + 0.490%)
$	2,000,000		5.890%	02/09/24	$  2,000,971
Bayerische Landesbank
	1,700,000		5.300	01/25/24	1,699,532
Svenska Handelsbanken AB(b) (Secured Overnight Financing Rate + 0.570%)
	3,939,000		5.970	01/09/24	3,939,566
TOTAL SHORT-TERM INVESTMENTS (Cost $7,639,000)					$  7,640,069
TOTAL INVESTMENTS – 113.5% (Cost $785,058,762)					$749,397,943
LIABILITIES IN EXCESS OF  OTHER ASSETS – (13.5)%					(88,965,740)
NET ASSETS – 100.0%					$660,432,203

The percentage shown for each investment category reflects the value of investments in that category as a percentage of net assets.
(a)	Security with a notional or nominal principal amount. The actual effective yield of this security is different than the stated interest rate.

GOLDMAN SACHS STRATEGIC INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

(b)	Variable rate security. Except for floating rate notes (for which final maturity is disclosed), maturity date disclosed is the next interest reset date. Interest rate disclosed is that which is in effect on December 31, 2023.
(c)	Security with “Call” features with resetting interest rates. Maturity dates disclosed are the final maturity dates.
(d)	Exempt from registration under Rule 144A of the Securities Act of 1933.
(e)	Coupon changes periodically based upon a predetermined schedule. Interest rate disclosed is that which is in effect on December 31, 2023.
(f)	TBA (To Be Announced) Securities are purchased on a forward commitment basis with an approximate principal amount and no defined maturity date. The actual principal and maturity date will be determined upon settlement when the specific mortgage pools are assigned. Total market value of TBA securities (excluding forward sales contracts, if any) amounts to $125,586,992 which represents approximately 19.1% of net assets as of December 31, 2023.
(g)	Pay-in-kind securities.
(h)	Security is currently in default and/or non-income producing.
(i)	Bank Loans often require prepayments from excess cash flows or permit the borrower to repay at its election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. As bank loan positions may involve multiple underlying tranches for which the aggregate position is presented, the stated interest rate represents the weighted average interest rate of all contracts on December 31, 2023. Bank Loans typically have rates of interest which are predetermined either daily, monthly, quarterly or semi-annually by reference to a base lending rate, plus a premium. These base lending rates are primarily the Secured Overnight Financing Rate (“SOFR”), and secondarily the prime rate offered by one or more major United States banks (the “Prime Rate”) and the certificate of deposit (“CD”) rate or other base lending rates used by commercial lenders.

(j)	All or a portion of security is segregated as collateral for initial margin requirement on futures transactions.
(k)	Represents an affiliated Issuer.
Security ratings disclosed, if any, are obtained from S&P’s /Moody’s Investor Service and are unaudited. A brief description of the ratings is available in the Fund’s Statement of Additional Information.

GOLDMAN SACHS STRATEGIC INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS — At December 31, 2023, the Fund had the following forward foreign currency exchange contracts:

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS WITH UNREALIZED GAIN

Counterparty	Currency Purchased		Currency Sold			Settlement Date		Unrealized Gain
JPMorgan Securities, Inc.	AUD	1,973,000		JPY	185,083,381		03/21/24	$	18,271
	AUD	920,412		USD	605,903		02/12/24		22,182
	AUD	27,286,101		USD	18,194,528		03/20/24		444,606
	CAD	5,971,674		USD	4,364,634		02/09/24		144,639
	CAD	28,851,296		USD	21,510,504		03/20/24		287,156
	CHF	883,400		EUR	939,400		01/15/24		14,373
	CHF	5,523,502		EUR	5,873,051		01/25/24		95,060
	CHF	15,928,417		USD	18,298,522		03/20/24		798,292
	CNH	36,913,909		USD	5,204,000		03/20/24		5,536
	COP	6,475,717,646		USD	1,567,174		02/07/24		90,607
	COP	4,251,056,320		USD	1,031,582		02/09/24		56,298
	COP	11,333,614,511		USD	2,599,753		02/16/24		296,981
	COP	9,549,391,531		USD	2,305,852		05/10/24		95,484
	EUR	3,325,806		CZK	81,827,713		01/25/24		19,707
	EUR	980,778		GBP	849,991		01/25/24		286
	EUR	16,116,420		GBP	13,911,247		03/20/24		110,453
	EUR	1,203,000		PLN	5,210,193		03/20/24		9,672
	EUR	6,575,191		SEK	72,864,018		01/25/24		34,371
	EUR	9,696,910		USD	10,676,298		01/02/24		29,430
	EUR	15,202,419		USD	16,661,112		01/18/24		134,326
	EUR	9,946,227		USD	10,817,437		02/14/24		182,602
	EUR	34,179,691		USD	37,186,716		02/23/24		626,963
	EUR	11,043,569		USD	12,103,658		02/26/24		115,422
	EUR	12,278,287		USD	13,438,619		03/20/24		159,937
	EUR	47,655,220		USD	51,371,637		04/05/24		1,440,810
	GBP	1,043,608		EUR	1,203,120		01/15/24		1,336
	GBP	8,247,658		USD	10,367,333		02/09/24		147,866
	GBP	9,299,273		USD	11,776,138		03/20/24		81,844
	HKD	6,401,081		USD	820,045		02/28/24		828
	ILS	2,688,601		USD	731,433		03/20/24		12,992
	JPY	4,634,739,240		USD	32,212,661		03/21/24		1,080,377
	KRW	3,381,026,220		USD	2,574,000		03/20/24		49,065
	MXN	56,844,144		USD	3,142,533		02/07/24		183,446
	MXN	26,767,501		USD	1,476,819		03/08/24		82,008
	MXN	8,693,702		USD	491,017		03/20/24		14,271
	MXN	65,124,114		USD	3,524,571		04/10/24		247,840
	NOK	94,223,166		USD	8,879,858		03/20/24		410,675
	NZD	5,870,471		AUD	5,430,000		01/25/24		7,877
	NZD	9,113,826		USD	5,677,442		03/20/24		85,005
	PLN	31,227,702		USD	7,731,072		03/20/24		196,546
	SEK	111,350,360		EUR	9,964,981		01/25/24		39,406
	SEK	187,242,879		USD	18,270,689		03/20/24		352,835
	SGD	1,352,692		USD	1,023,960		01/16/24		1,818
	SGD	8,818,171		USD	6,652,482		01/25/24		37,687
	SGD	9,750,167		USD	7,283,179		03/20/24		132,203
	TWD	158,254,954		USD	5,079,535		03/13/24		160,467
	USD	36,594		COP	130,916,394		02/16/24		3,134
	USD	823,518		COP	3,237,249,337		05/10/24		9,464
	USD	4,054,472		EUR	3,654,892		01/18/24		16,594
	USD	475,160		EUR	426,533		02/14/24		3,435
	USD	1,496,723		EUR	1,341,602		02/23/24		12,481
	USD	46,540		EUR	40,485		02/26/24		1,746
	USD	47,134		EUR	40,401		04/05/24		2,361
	USD	72,681		MXN	1,232,533		02/07/24		565
	USD	5,420,305		PLN	21,298,720		03/08/24		12,242
	ZAR	15,399,814		USD	838,784		01/18/24		1,719
	ZAR	23,827,803		USD	1,277,281		03/20/24		16,172
TOTAL								$	8,639,769

GOLDMAN SACHS STRATEGIC INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS WITH UNREALIZED LOSS

Counterparty	Currency Purchased			Currency Sold			Settlement Date		Unrealized Loss
JPMorgan Securities, Inc.		AUD	15,402,290		NZD	16,640,138		01/25/24	$	(15,040	)
		CHF	3,342,082		EUR	3,611,356		01/25/24		(6,329	)
		CNH	19,086,557		USD	2,699,196		03/20/24		(5,574	)
		CZK	35,680,489		EUR	1,450,356		01/25/24		(8,767	)
		EUR	1,862,206		AUD	3,053,460		03/20/24		(23,372	)
		EUR	3,349,724		CHF	3,148,047		01/25/24		(51,464	)
		EUR	2,347,000		CHF	2,204,138		03/20/24		(43,203	)
		EUR	978,253		CZK	24,201,489		01/25/24		(131	)
		EUR	4,736,197		GBP	4,110,179		01/25/24		(5,698	)
		EUR	5,358,543		NOK	63,650,697		03/20/24		(341,306	)
		EUR	2,065,000		SEK	23,288,719		03/20/24		(29,292	)
		EUR	1,133,570		USD	1,257,593		02/26/24		(3,362	)
		GBP	825,042		EUR	954,848		01/25/24		(3,436	)
		GBP	5,758,669		EUR	6,696,898		03/20/24		(73,832	)
		GBP	3,127,104		USD	3,998,331		03/20/24		(10,800	)
		NZD	6,055,409		AUD	5,620,807		01/25/24		(5,341	)
		NZD	1,959,899		AUD	1,819,227		03/20/24		(3,518	)
		PLN	21,420,032		USD	5,451,178		03/08/24		(12,311	)
		SEK	45,719,831		EUR	4,142,342		01/25/24		(39,934	)
		SEK	68,672,367		USD	6,862,433		03/20/24		(32,152	)
		SGD	1,449,310		USD	1,101,985		01/25/24		(2,422	)
		TRY	37,779,069		USD	1,192,145		03/20/24		(3,199	)
		USD	4,729,969		CAD	6,471,524		02/09/24		(156,746	)
		USD	22,416,467		CAD	30,166,548		03/20/24		(374,891	)
		USD	17,885,711		CHF	15,414,662		03/20/24		(595,156	)
		USD	15,301,167		CNH	109,364,630		03/20/24		(133,099	)
		USD	4,115,387		COP	16,941,922,907		02/09/24		(220,188	)
		USD	2,040,809		COP	8,813,730,491		02/16/24		(211,874	)
		USD	4,967,757		COP	20,494,620,091		05/10/24		(185,918	)
		USD	2,697,041		CZK	61,077,214		03/20/24		(28,317	)
		USD	10,607,685		EUR	9,693,494		01/02/24		(94,272	)
		USD	8,921,778		EUR	8,098,608		01/18/24		(25,462	)
		USD	9,617,613		EUR	8,851,724		02/14/24		(171,959	)
		USD	42,595,669		EUR	39,566,893		02/23/24		(1,177,975	)
		USD	4,554,645		EUR	4,143,562		02/26/24		(29,970	)
		USD	25,377,645		EUR	23,434,045		03/20/24		(576,235	)
		USD	46,130,187		EUR	42,955,674		04/05/24		(1,474,136	)
		USD	7,227,045		GBP	5,839,164		01/10/24		(216,268	)
		USD	10,360,739		GBP	8,240,180		02/09/24		(144,926	)
		USD	19,764,817		GBP	15,700,292		03/20/24		(255,435	)
		USD	2,076,559		ILS	7,680,030		03/20/24		(49,901	)
		USD	3,475,178		JPY	509,457,614		02/13/24		(162,707	)
		USD	31,518,394		JPY	4,414,991,363		03/21/24		(196,115	)
		USD	1,620,272		KRW	2,115,095,785		03/20/24		(20,660	)
		USD	3,131,778		MXN	55,611,611		02/07/24		(122,084	)
		USD	1,512,222		MXN	26,767,501		03/08/24		(46,607	)
		USD	386,922		MXN	6,854,902		03/20/24		(11,493	)
		USD	3,656,050		MXN	65,124,113		04/10/24		(116,361	)
		USD	1,992,789		NOK	21,825,660		03/20/24		(159,250	)
		USD	13,373,607		NZD	21,772,963		03/20/24		(392,901	)
		USD	2,600,000		PLN	10,248,027		03/20/24		(1,614	)
		USD	3,833,868		SEK	38,750,655		01/30/24		(13,172	)
		USD	16,743,548		SEK	175,077,568		03/20/24		(669,993	)
		USD	3,607,853		SGD	4,774,925		01/25/24		(14,786	)
		USD	2,602,000		SGD	3,452,682		03/20/24		(23,899	)
		USD	3,995,364		ZAR	76,899,268		03/20/24		(178,984	)
TOTAL									$	(8,973,837	)

GOLDMAN SACHS STRATEGIC INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

FORWARD SALES CONTRACTS — At December 31, 2023, the Fund had the following forward sales contracts:

Description	Interest Rate			Maturity Date(a)	Settlement Date	Principal Amount		Value
Government National Mortgage Association		4.500	%	TBA - 30yr	01/22/24	$	(12,000,000)	$	(11,715,220)
Uniform Mortgage-Backed Security		2.000		TBA - 30yr	01/16/24		(36,000,000)		(29,436,185)
Uniform Mortgage-Backed Security		2.500		TBA - 30yr	01/16/24		(6,000,000)		(5,110,313)
Uniform Mortgage-Backed Security		3.500		TBA - 30yr	01/16/24		(1,000,000)		(917,969)
Uniform Mortgage-Backed Security		4.500		TBA - 30yr	01/16/24		(10,000,000)		(9,701,558)
Uniform Mortgage-Backed Security		5.000		TBA - 30yr	01/16/24		(74,000,000)		(73,259,963)
Uniform Mortgage-Backed Security		4.000		TBA - 30yr	01/16/24		(8,000,000)		(7,571,246)
Uniform Mortgage-Backed Security		6.000		TBA - 30yr	01/16/24		(35,000,000)		(35,557,823)
Uniform Mortgage-Backed Security		6.500		TBA - 30yr	01/16/24		(39,000,000)		(39,956,689)
(PROCEEDS RECEIVABLE: $(211,038,984))								$	(213,226,966)

(a) TBA (To Be Announced) Securities are purchased on a forward commitment basis with an approximate principal amount and no defined maturity date. The actual principal and maturity date will be determined upon settlement when the specific mortgage pools are assigned.

FUTURES CONTRACTS — At December 31, 2023, the Fund had the following futures contracts:

Description	Number of Contracts	Expiration Date	Notional Amount			Unrealized Appreciation/ (Depreciation)
Long position contracts:
10 Year U.S. Treasury Notes	39	03/19/24	$	4,402,734		$	(3,330	)
30 Year German Euro-Buxl	1	03/07/24		156,452			10,000
5 Year U.S. Treasury Notes	874	03/28/24		95,067,985			328,353
Total						$	335,023
Short position contracts:
10 Year U.K. Long Gilt	(1)	03/26/24		(130,843	)		(8,453	)
2 Year U.S. Treasury Notes	(288)	03/28/24		(59,303,250	)		(53,294	)
20 Year U.S. Treasury Bonds	(48)	03/19/24		(5,997,000	)		(3,398	)
5 Year German Euro-Bobl	(487)	03/07/24		(64,127,758	)		(880,242	)
5 Year German Euro-Bund	(5)	03/07/24		(757,420	)		3,514
5 Year German Euro-Oat	(22)	03/07/24		(3,193,971	)		992
Ultra 10-Year U.S. Treasury Note	(402)	03/19/24		(47,442,281	)		(2,079,483	)
Ultra Long U.S. Treasury Bonds	(139)	03/19/24		(18,569,531	)		(715	)
Total						$	(3,021,079	)
TOTAL FUTURES CONTRACTS						$	(2,686,056	)

GOLDMAN SACHS STRATEGIC INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

SWAP CONTRACTS — At December 31, 2023, the Fund had the following swap contracts:

CENTRALLY CLEARED INTEREST RATE SWAP CONTRACTS

Payments Made by the Fund	Payments Received by Fund	Termination Date	Notional Amount (000s)			Market Value			Upfront Premium (Received) Paid			Unrealized Appreciation/ (Depreciation)
1M BID Average(a)	13.950%(a)	01/02/24	BRL	20,170		$	27,782		$	(69,081	)	$	96,863
12.795%(a)	1M BID Average(a)	01/02/24		7,360			8,328			—			8,328
12M SOFR(b)	3.500(b)	03/16/24	$	7,390			(130,492	)		1,904			(132,396	)
12M SOFR(b)	4.430(b)	12/31/24		10			(86	)		(1	)		(85	)
1M BID Average(a)	12.060(a)	01/02/25	BRL	42,110			10,170			923,637			(913,467	)
1M BID Average(a)	12.063(a)	01/02/25		37,210			78,852			812,930			(734,078	)
13.300(a)	1M BID Average(a)	01/02/25		26,230			(146,633	)		(752,962	)		606,329
12.713(a)	1M BID Avg(a)	01/02/25		15,070			(57,244	)		(396,097	)		338,853
6M EURO(c)	3.720(d)	03/18/25	EUR	203,010	(e)		1,560,386			(293,334	)		1,853,720
1M BID Average(a)	10.850(a)	01/02/26	BRL	131,839			288,631			27,526			261,105
9.500(a)	Mexico Interbank TIIE 28 Days(a)	03/18/26	MXN	129,580	(e)		(25,258	)		(3,400	)		(21,858	)
4M CNRR(c)	2.000(c)	03/20/26	CNY	100,890	(e)		(3,364	)		(45,521	)		42,157
3M STIBOR(c)	3.500(b)	03/20/26	SEK	2,047,510	(e)		3,285,683			2,116,794			1,168,889
3M KWCDC(c)	3.750(c)	03/20/26	KRW	15,231,240	(e)		142,286			26,277			116,009
6M CDOR(f)	3.750(f)	03/20/26	CAD	94,690	(e)		212,219			(101,915	)		314,134
12M SOFR(b)	4.000(b)	03/20/26	$	76,440	(e)		261,509			77,474			184,035
3M NIBOR(f)	4.250(b)	03/20/26	NOK	1,111,630	(e)		1,075,042			831,990			243,052
6M GBP(b)	5.250(b)	03/20/26	GBP	185,220	(e)		6,515,891			4,655,412			1,860,479
3.750(c)	6M AUDOR(c)	03/20/26	AUD	153,120	(e)		82,786			626,552			(543,766	)
1.250(b)	6M CHFOR(b)	03/20/26	CHF	213,740	(e)		(973,565	)		(1,074,973	)		101,408
3.000(b)	6M EURO(b)	03/20/26	EUR	335,360	(e)		(4,828,308	)		(4,514,490	)		(313,818	)
3M JIBAR(c)	8.000(c)	03/20/26	ZAR	189,710	(e)		63,149			64,817			(1,668	)
6M JYOR(b)	0.500(b)	08/02/26	JPY	7,326,590	(e)		165,674			56,848			108,826
1M BID Average(a)	13.030(a)	01/04/27	BRL	13,000			181,466			9,869			171,597
11.230(a)	1M BID Average(a)	01/04/27		27,620			(93,310	)		47,990			(141,300	)
10.286(a)	1M BID Average(a)	01/04/27		26,920			(50,186	)		—			(50,186	)
1M BID Average(a)	8.495(a)	01/04/27		6,710			(99,556	)		(121,559	)		22,003
3.000(b)	6M EURO(f)	03/20/27	EUR	3,220	(e)		(60,061	)		(28,995	)		(31,066	)
3.490(b)	12M SOFR(b)	05/31/27	$	10			(94	)		(25	)		(69	)
12M SOFR(b)	3.350(b)	10/06/27		234,210	(e)		1,097,930			(322,403	)		1,420,333
6M EURO(f)	3.000(b)	10/20/27	EUR	99,350	(e)		1,863,146			(830,286	)		2,693,432
12M SOFR(b)	3.730(b)	11/28/27	$	44,630	(e)		512,683			216,509			296,174
6M EURO(b)	2.673(b)	04/22/28	EUR	95,650	(e)		2,436,153			222,119			2,214,034
2.852(b)	3M EURO(c)	04/22/28		95,650	(e)		(2,384,508	)		(184,555	)		(2,199,953	)
0.500(b)	12M JYOR(b)	08/03/28	JPY	15,261,890	(e)		328,217			(146,959	)		475,176
12M SOFR(b)	3.696(b)	09/22/28	$	188,840	(e)		1,869,044			(432,374	)		2,301,418
6M EURO(b)	2.500(b)	10/19/28	EUR	57,690	(e)		1,084,428			403,317			681,111
1.250(b)	6M EURO(f)	12/19/28		2,630			162,811			(39,616	)		202,427
11.500(a)	1M BID Average(a)	01/02/29	BRL	30,290			(278,515	)		(113,868	)		(164,647	)
4M CNRR(c)	2.500(c)	03/20/29	CNY	38,280	(e)		53,674			10,428			43,246
3M KWCDC(c)	3.750(c)	03/20/29	KRW	15,046,790	(e)		431,095			97,322			333,773
3M NIBOR(f)	3.750(b)	03/20/29	NOK	237,270	(e)		432,870			374,807			58,063

GOLDMAN SACHS STRATEGIC INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

CENTRALLY CLEARED INTEREST RATE SWAP CONTRACTS (continued)

Payments Made by the Fund	Payments Received by Fund	Termination Date		Notional Amount (000s)				Market Value			Upfront Premium (Received) Paid			Unrealized Appreciation/ (Depreciation)
8.500%(c)	3M JIBAR(c)		03/20/29		ZAR	115,530	(e)	$	(110,483	)	$	(113,860	)	$	3,377
12M SOFR(b)	4.250%(b)		03/20/29		$	66,480	(e)		2,478,162			2,109,501			368,661
6M GBP(b)	4.750(b)		03/20/29		GBP	21,250	(e)		1,801,259			1,039,890			761,369
4.000(f)	6M AUDOR(f)		03/20/29		AUD	19,260	(e)		(51,458	)		225,957			(277,415	)
1.250(b)	6M CHFOR(b)		03/20/29		CHF	10,080	(e)		(123,551	)		(106,709	)		(16,842	)
2.750(b)	6M EURO(b)		03/20/29		EUR	10,990	(e)		(369,952	)		(226,956	)		(142,996	)
0.500(b)	6M JYOR(b)		03/21/29		JPY	41,750,000	(e)		169,754			2,961,156			(2,791,402	)
2.680(b)	12M SOFR(b)		07/28/32		$	49,690	(e)		1,252,854			158,215			1,094,639
6M JYOR(b)	1.250(b)		08/02/33		JPY	3,143,400	(e)		51,677			1,339			50,338
1.250(b)	12M JYOR(b)		08/03/33			3,793,000	(e)		(61,907	)		(208,372	)		146,465
12M SOFR(b)	4.306(b)		10/05/33		$	81,880	(e)		2,942,661			7,039			2,935,622
6M EURO(f)	3.000(b)		11/10/33		EUR	73,630	(e)		1,540,654			920,583			620,071
12M SOFR(b)	3.500(b)		12/20/33		$	1,110			2,383			5,696			(3,313	)
9.000(a)	Mexico Interbank TIIE 28 Days(a)		03/08/34		MXN	45,150	(e)		(113,526	)		(88,791	)		(24,735	)
6M CHFOR(b)	1.500(b)		03/20/34		CHF	11,080	(e)		421,210			398,920			22,290
6M EURO(b)	2.750(b)		03/20/34		EUR	10,820	(e)		528,777			310,202			218,575
6M EURO(f)	3.000(b)		03/20/34			15,030	(e)		793,499			702,413			91,086
3M KWCDC(c)	3.750(c)		03/20/34		KRW	4,089,570	(e)		218,851			157,019			61,832
3.750(b)	3M NIBOR(f)		03/20/34		NOK	70,830	(e)		(274,092	)		(187,301	)		(86,791	)
3.000(b)	3M STIBOR(c)		03/20/34		SEK	260,540	(e)		(1,572,214	)		(962,226	)		(609,988	)
6M AUDOR(f)	4.250(f)		03/20/34		AUD	12,760	(e)		47,809			(296,710	)		344,519
6M GBP(b)	4.250(b)		03/20/34		GBP	1,520	(e)		162,594			82,116			80,478
12M SOFR(b)	4.250(b)		03/20/34		$	31,370	(e)		2,182,430			1,999,670			182,760
3M NZDOR(c)	4.750(f)		03/20/34		NZD	16,400	(e)		539,663			18,965			520,698
6M WIBOR(f)	5.000(b)		03/20/34		PLN	12,360	(e)		140,414			135,308			5,106
3.250(f)	6M CDOR(f)		03/20/34		CAD	2,130	(e)		(29,599	)		6,301			(35,900	)
3M JIBAR(c)	9.500(c)		03/20/34		ZAR	35,490	(e)		42,093			22,874			19,219
1.000(b)	6M JYOR(b)		03/21/34		JPY	2,829,000	(e)		(222,117	)		112,708			(334,825	)
3.240(b)	12M SOFR(b)		10/06/35		$	53,770	(e)		348,059			(561,085	)		909,144
3.781(b)	12M SOFR(b)		09/22/36			42,590	(e)		(1,341,368	)		657,657			(1,999,025	)
12M SOFR(b)	2.910(b)		07/28/37			133,650	(e)		(2,923,554	)		(1,116,306	)		(1,807,248	)
6M EURO(f)	2.152(b)		08/09/37		EUR	64,760	(e)		(1,586,503	)		(2,534,176	)		947,673
12M SOFR(b)	3.391(b)		05/10/38		$	152,640	(e)		(917,305	)		(1,468,547	)		551,242
6M JYOR(b)	1.500(b)		08/03/38		JPY	4,111,000	(e)		(214,574	)		(312,755	)		98,181
1.451(b)	6M EURO(f)		08/10/42		EUR	165,670	(e)		6,047,469			4,288,495			1,758,974
2.750(b)	6M EURO(f)		03/20/44			570	(e)		(26,635	)		(18,162	)		(8,473	)
2.080(b)	12M SOFR(b)		07/28/47		$	132,620	(e)		3,013,617			1,609,470			1,404,147
6M EURO(f)	1.051(b)		08/11/47		EUR	96,990	(e)		(2,997,324	)		(1,901,700	)		(1,095,624	)
2.564(b)	12M SOFR(b)		05/11/53		$	129,900	(e)		1,380,798			1,269,639			111,159
2.000(b)	6M EURO(f)		05/17/53		EUR	27,690	(e)		95,945			211,766			(115,821	)
2.500(b)	6M EURO(f)		11/10/53			32,780	(e)		(1,574,062	)		(1,111,094	)		(462,968	)
3.613(b)	12M SOFR(b)		11/15/53		$	43,700	(e)		(1,885,908	)		(290,088	)		(1,595,820	)
3.512(b)	12M SOFR(b)		11/29/53			14,100	(e)		(508,914	)		(253,742	)		(255,172	)
2.500%(b)	6M EURO(f)		03/20/54		EUR	8,470	(e)	$	(386,394	)	$	(249,364	)	$	(137,030	)
TOTAL								$	24,011,917		$	9,537,063		$	14,474,854

(a) Payments made at monthly.

(b) Payments made annually.

(c) Payments made quarterly.

(d) Payments made at maturity.

(e) Represents forward starting interest rate swaps whose effective dates of commencement of accruals and cash flows occur subsequent to December 31, 2023.

(f) Payments made semi-annually.

GOLDMAN SACHS STRATEGIC INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

OVER THE COUNTER CREDIT DEFAULT SWAP CONTRACTS

Reference Obligation/Index	Financing Rate Paid by the Fund(a)		Credit Spread at December 31, 2023(b)		Counterparty		Termination Date		Notional Amount (000s)		Value			Upfront Premiums (Received) Paid			Unrealized Appreciation/ (Depreciation)
Protection Sold:
CD CMBX-NA-AAA.16		0.500%		0.766%		MS & Co. Int. PLC		04/17/65	$	26,200	$	(464,947	)	$	(511,799	)	$	46,852
TOTAL											$	(464,947	)	$	(511,799	)	$	46,852

(a) Payments made monthly.

(b) Credit spread on the referenced obligation, together with the term of the swap contract, are indicators of payment/performance risk. The likelihood of a credit event occurring which would require a fund or its counterparty to make a payment or otherwise be required to perform under the swap contract is generally greater as the credit spread and the term of the swap contract increase.

CENTRALLY CLEARED CREDIT DEFAULT SWAP CONTRACTS

Referenced Obligation/Index	Financing Rate Received/(Paid) by the Fund(a)		Credit Spread at December 31, 2023(b)		Termination Date		Notional Amount (000s)		Value		Upfront Premiums (Received) Paid			Unrealized Appreciation/ (Depreciation)
Protection Sold:
CDX.NA.IG Index 40		1.000%		0.507%		06/20/28	$	26,349	$	538,570	$	382,191		$	156,379
Republic of Chile, 3.24%, 2/6/2028		1.000		0.493		12/20/28		4,700		109,739		75,011			34,728
Republic of Indonesia, 4.125%, 1/15/2025		1.000		0.701		12/20/28		4,390		60,362		28,754			31,608
Republic of Peru, 8.750%, 11/21/2033		1.000		0.701		12/20/28		4,280		59,282		32,928			26,354
Republic of the Philippines, 10.625%, 3/16/2025		1.000		0.624		12/20/28		3,530		60,973		27,403			33,570
United Mexican States, 4.150%, 03/28/27		1.000%		0.879%		12/20/28	$	4,010	$	23,017	$	(42,091	)	$	65,108
TOTAL									$	851,943	$	504,196		$	347,747

(a) Payments made quarterly.

(b) Credit spread on the referenced obligation, together with the term of the swap contract, are indicators of payment/performance risk. The likelihood of a credit event occurring which would require a fund or its counterparty to make a payment or otherwise be required to perform under the swap contract is generally greater as the credit spread and the term of the swap contract increase.

GOLDMAN SACHS STRATEGIC INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

PURCHASED AND WRITTEN OPTIONS CONTRACTS — At December 31, 2023, the Fund had the following purchased and written options:

OVER-THE-COUNTER INTEREST RATE SWAPTIONS

Description	Counterparty	Exercise Rate	Expiration Date		Number of Contracts		Notional Amount			Market Value			Premiums Paid (Received) by Fund			Unrealized Appreciation/ (Depreciation)
Purchased option contracts
Calls
3M IRS	MS & Co. Int. PLC	3.425%		03/13/2024		126,890,000	$	126,890,000		$	49,028		$	136,694		$	(87,667	)
3M IRS	MS & Co. Int. PLC	3.800		03/13/2024		253,780,000		253,780,000			20,340			74,561			(54,221	)
						380,670,000	$	380,670,000		$	69,368		$	211,255		$	(141,888	)
Puts
3M IRS	Citibank NA	4.050		02/05/2024		64,020,000		64,020,000			452			12,557			(12,105	)
3M IRS	Citibank NA	3.700		02/05/2024		64,020,000		64,020,000			3,930			74,022			(70,092	)
3M IRS	Citibank NA	3.750		02/05/2024		64,020,000		64,020,000			2,869			56,839			(53,970	)
3M IRS	Citibank NA	4.000		02/05/2024		64,020,000		64,020,000			608			15,862			(15,254	)
						256,080,000	$	256,080,000		$	7,859		$	159,280		$	(151,421	)
Total purchased option contracts						636,750,000	$	636,750,000		$	77,227		$	370,535		$	(293,309	)
Written option contracts
Calls
6M IRS	Citibank NA	3.720		03/14/2024		(114,680,000)		(114,680,000	)		(896,601	)		(260,597	)		(636,004	)
6M IRS	Citibank NA	3.744		03/14/2024		(114,680,000)		(114,680,000	)		(924,656	)		(253,690	)		(670,966	)
1M IRS	JPMorgan Securities, Inc.	2.378		01/29/2024		(12,800,000)		(12,800,000	)		(88,917	)		(142,163	)		53,246
1M IRS	MS & Co. Int. PLC	3.835		01/11/2024		(12,690,000)		(12,690,000	)		(410,504	)		(152,915	)		(257,589	)
1M IRS	MS & Co. Int. PLC	3.550		01/18/2024		(12,660,000)		(12,660,000	)		(171,787	)		(140,843	)		(30,944	)
1M IRS	MS & Co. Int. PLC	3.392		01/29/2024		(12,810,000)		(12,810,000	)		(109,903	)		(142,832	)		32,929
2M IRS	MS & Co. Int. PLC	3.948		01/03/2024		(12,790,000)		(12,790,000	)		(521,225	)		(139,731	)		(381,494	)
3M IRS	MS & Co. Int. PLC	3.650		03/13/2024		(380,670,000)		(380,670,000	)		(57,405	)		(182,259	)		124,854
1M IRS	UBS AG (London)	2.660		01/15/2024		(12,630,000)		(12,630,000	)		(35,992	)		(131,936	)		95,944
1M IRS	UBS AG (London)	2.431		01/22/2024		(12,690,000)		(12,690,000	)		(93,860	)		(130,409	)		36,549
						(699,100,000)	$	(699,100,000	)	$	(3,310,850	)	$	(1,677,375	)	$	(1,633,475	)

GOLDMAN SACHS STRATEGIC INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

OVER-THE-COUNTER INTEREST RATE SWAPTIONS (continued)

Description	Counterparty	Exercise Rate		Expiration Date		Number of Contracts		Notional Amount			Market Value			Premiums Paid (Received) by Fund			Unrealized Appreciation/ (Depreciation)
Puts
3M IRS	Citibank NA		3.900		02/05/2024		(128,040,000)	$	(128,040,000	)	$	(2,248	)	$	(50,229	)	$	47,981
3M IRS	Citibank NA		3.850%		02/05/2024		(128,040,000)		(128,040,000	)		(3,067	)		(68,540	)		65,473
6M IRS	Citibank NA		3.720		03/14/2024		(114,680,000)		(114,680,000	)		(12,875	)		(260,597	)		247,722
6M IRS	Citibank NA		3.744		03/14/2024		(114,680,000)		(114,680,000	)		(11,647	)		(253,690	)		242,043
1M IRS	JPMorgan Securities, Inc.		2.378		01/29/2024		(12,800,000)		(12,800,000	)		(215,537	)		(142,163	)		(73,374	)
1M IRS	MS & Co. Int. PLC		3.835		01/11/2024		(12,690,000)		(12,690,000	)		(6,724	)		(152,915	)		146,191
1M IRS	MS & Co. Int. PLC		3.550		01/18/2024		(12,660,000)		(12,660,000	)		(67,597	)		(140,843	)		73,245
1M IRS	MS & Co. Int. PLC		3.392		01/29/2024		(12,810,000)		(12,810,000	)		(167,892	)		(142,832	)		(25,060	)
2M IRS	MS & Co. Int. PLC		3.948		01/03/2024		(12,790,000)		(12,790,000	)		(3	)		(139,731	)		139,728
1M IRS	UBS AG (London)		2.660		01/15/2024		(12,630,000)		(12,630,000	)		(249,720	)		(131,936	)		(117,784	)
1M IRS	UBS AG (London)		2.431		01/22/2024		(12,690,000)		(12,690,000	)		(158,457	)		(130,409	)		(28,048	)
							(574,510,000)	$	(574,510,000	)	$	(895,767	)	$	(1,613,885	)	$	718,117
Total written option contracts							(1,273,610,000)	$	(1,273,610,000	)	$	(4,206,617	)	$	(3,291,260	)	$	(915,358	)
TOTAL							(636,860,000)	$	(636,860,000	)	$	(4,129,390	)	$	(2,920,725	)	$	(1,208,667	)

OVER-THE-COUNTER OPTIONS ON FOREIGN CURRENCY

Description	Counterparty	Exercise Rate		Expiration Date		Number of Contracts	Notional Amount		Market Value		Premiums Paid (Received) by Fund		Unrealized Appreciation/ (Depreciation)
Purchased option contracts
Calls
Call USD/Put COP	Barclays Bank PLC		4,200.000%		02/14/2024	2,474,000	$	2,474,000	$	14,854	$	121,795	$	(106,941	)
Call USD/Put MXN	BofA Securities LLC		17.875		02/05/2024	2,482,000		2,482,000		9,432		85,728		(76,296	)
Call EUR/Put USD	Deutsche Bank AG (London)		1.107		01/16/2024	19,259,000		19,259,000		112,641		115,247		(2,606	)
Call USD/Put COP	MS & Co. Int. PLC		4,300.000		02/07/2024	2,478,000		2,478,000		7,146		111,138		(103,992	)
Call USD/Put COP	UBS AG (London)		4,232.000		05/08/2024	2,552,000		2,552,000		50,501		117,137		(66,636	)
						29,245,000	$	29,245,000	$	194,574	$	551,045	$	(356,471	)
Puts
Put USD/Call COP	Barclays Bank PLC		4,200.000		02/14/2024	2,474,000		2,474,000		197,116		96,857		100,259
Put USD/Call MXN	BofA Securities LLC		17.875		02/05/2024	2,482,000		2,482,000		126,649		85,728		40,921
Put EUR/Call USD	Capital Securities Corp.		1.091		01/16/2024	19,043,486		19,043,486		41,731		105,334		(63,603	)
Put EUR/Call USD	Capital Securities Corp.		1.083		02/22/2024	13,940,000		13,940,000		48,799		99,030		(50,231	)
Put GBP/Call USD	HSBC Bank PLC		1.198		02/07/2024	8,218,000		8,218,000		1,341		63,223		(61,882	)
Put EUR/Call USD	MS & Co. Int. PLC		1.082		02/21/2024	18,071,000		18,071,000		59,110		249,081		(189,971	)
Put USD/Call COP	MS & Co. Int. PLC		4,300.000		02/07/2024	2,478,000		2,478,000		256,020		111,138		144,882
Put EUR/Call USD	UBS AG (London)		1.060		04/03/2024	15,190,607		15,190,607		35,736		345,483		(309,747	)
Put USD/Call COP	UBS AG (London)		4,232.000		05/08/2024	2,552,000		2,552,000		212,502		117,137		95,365
						84,449,093	$	84,449,093	$	979,004	$	1,273,011	$	(294,007	)
Total purchased option contracts						113,694,093	$	113,694,093	$	1,173,578	$	1,824,056	$	(650,478	)

GOLDMAN SACHS STRATEGIC INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

OVER-THE-COUNTER OPTIONS ON FOREIGN CURRENCY (continued)

Description	Counterparty	Exercise Rate			Expiration Date		Number of Contracts		Notional Amount			Market Value			Premiums Paid (Received) by Fund			Unrealized Appreciation/ (Depreciation)
Written option contracts
Calls
Call EUR/Put SEK	Barclays Bank PLC		11.275	%		01/10/2024		(3,348,000)	$	(3,348,000	)	$	(3,807	)	$	(29,731	)	$	25,924
Call EUR/Put CZK	BofA Securities LLC		24.320			01/02/2024		(3,298,000)		(3,298,000	)		(54,168	)		(19,838	)		(34,330	)
Call EUR/Put GBP	Capital Securities Corp.		0.858			01/04/2024		(3,342,000)		(3,342,000	)		(35,839	)		(20,348	)		(15,491	)
Call EUR/Put USD	Capital Securities Corp.		1.107			01/16/2024		(19,259,000)		(19,259,000	)		(112,641	)		(66,869	)		(45,772	)
Call AUD/Put NZD	Citibank NA		1.074			01/12/2024		(5,497,000)		(5,497,000	)		(22,670	)		(19,765	)		(2,905	)
Call AUD/Put NZD	Citibank NA		1.079			01/18/2024		(5,419,000)		(5,419,000	)		(15,491	)		(19,562	)		4,071
Call EUR/Put SEK	Deutsche Bank AG (London)		11.125			01/25/2024		(3,355,000)		(3,355,000	)		(28,393	)		(31,577	)		3,184
Call EUR/Put CHF	HSBC Bank PLC		0.942			01/25/2024		(3,355,000)		(3,355,000	)		(7,237	)		(24,198	)		16,961
Call AUD/Put NZD	JPMorgan Securities, Inc.		1.071			01/04/2024		(5,464,000)		(5,464,000	)		(26,261	)		(17,940	)		(8,321	)
Call USD/Put SGD	JPMorgan Securities, Inc.		1.322			01/25/2024		(3,687,000)		(3,687,000	)		(15,061	)		(19,202	)		4,141
Call AUD/Put NZD	MS & Co. Int. PLC		1.081			01/25/2024		(5,433,000)		(5,433,000	)		(15,505	)		(20,387	)		4,882
Call EUR/Put CHF	MS & Co. Int. PLC		0.947			01/04/2024		(3,345,000)		(3,345,000	)		(259	)		(21,889	)		21,630
Call EUR/Put SEK	MS & Co. Int. PLC		11.080			01/29/2024		(3,354,000)		(3,354,000	)		(38,274	)		(31,831	)		(6,443	)
Call USD/Put MXN	MS & Co. Int. PLC		17.875			02/05/2024		(2,482,000)		(2,482,000	)		(9,432	)		(89,377	)		79,945
Call USD/Put SGD	MS & Co. Int. PLC		1.340			01/12/2024		(3,603,000)		(3,603,000	)		(1,557	)		(19,373	)		17,816
Call EUR/Put CHF	UBS AG (London)		0.948			01/18/2024		(3,337,000)		(3,337,000	)		(2,741	)		(21,590	)		18,849
Call EUR/Put CZK	UBS AG (London)		24.650			01/25/2024		(3,355,000)		(3,355,000	)		(26,397	)		(21,706	)		(4,691	)
Call EUR/Put SEK	UBS AG (London)		11.300			01/04/2024		(3,345,000)		(3,345,000	)		(650	)		(29,173	)		28,523
Call USD/Put SGD	UBS AG (London)		1.327			01/17/2024		(3,657,000)		(3,657,000	)		(8,484	)		(18,340	)		9,856
								(87,935,000)	$	(87,935,000	)	$	(424,867	)	$	(542,696	)	$	117,829
Puts
Put EUR/Call SEK	Barclays Bank PLC		11.275			01/10/2024		(3,348,000)		(3,348,000	)		(55,677	)		(29,731	)		(25,946	)
Put EUR/Call CZK	BofA Securities LLC		24.320			01/02/2024		(3,298,000)		(3,298,000	)		(33	)		(19,838	)		19,805
Put EUR/Call GBP	Capital Securities Corp.		0.858			01/04/2024		(3,342,000)		(3,342,000	)		(402	)		(20,348	)		19,946
Put AUD/Call NZD	Citibank NA		1.074			01/12/2024		(5,497,000)		(5,497,000	)		(6,791	)		(19,766	)		12,975
Put AUD/Call NZD	Citibank NA		1.079			01/18/2024		(5,419,000)		(5,419,000	)		(16,322	)		(19,562	)		3,240
Put EUR/Call SEK	Deutsche Bank AG (London)		11.125			01/25/2024		(3,355,000)		(3,355,000	)		(30,511	)		(31,577	)		1,066
Put EUR/Call CHF	HSBC Bank PLC		0.942			01/25/2024		(3,355,000)		(3,355,000	)		(63,505	)		(24,198	)		(39,307	)
Put AUD/Call NZD	JPMorgan Securities, Inc.		1.071			01/04/2024		(5,464,000)		(5,464,000	)		(1,106	)		(17,940	)		16,834
Put USD/Call SGD	JPMorgan Securities, Inc.		1.322			01/25/2024		(3,687,000)		(3,687,000	)		(26,292	)		(19,202	)		(7,090	)
Put AUD/Call NZD	MS & Co. Int. PLC		1.081			01/25/2024		(5,433,000)		(5,433,000	)		(22,521	)		(20,387	)		(2,134	)
Put EUR/Call CHF	MS & Co. Int. PLC		0.947			01/04/2024		(3,345,000)		(3,345,000	)		(73,149	)		(21,889	)		(51,260	)
Put EUR/Call SEK	MS & Co. Int. PLC		11.080			01/29/2024		(3,354,000)		(3,354,000	)		(25,456	)		(31,831	)		6,375
Put USD/Call MXN	MS & Co. Int. PLC		17.875			02/05/2024		(2,482,000)		(2,482,000	)		(126,649	)		(89,377	)		(37,272	)
Put USD/Call SGD	MS & Co. Int. PLC		1.340			01/12/2024		(3,603,000)		(3,603,000	)		(59,648	)		(19,373	)		(40,275	)
Put EUR/Call CHF	UBS AG (London)		0.948			01/18/2024		(3,337,000)		(3,337,000	)		(80,788	)		(21,590	)		(59,198	)
Put EUR/Call CZK	UBS AG (London)		24.650			01/25/2024		(3,355,000)		(3,355,000	)		(14,259	)		(21,706	)		7,447
Put EUR/Call SEK	UBS AG (London)		11.300			01/04/2024		(3,345,000)		(3,345,000	)		(60,782	)		(29,173	)		(31,609	)
Put EUR/Call USD	UBS AG (London)		1.082			02/21/2024		(18,071,000)		(18,071,000	)		(59,110	)		(615,407	)		556,297
Put USD/Call SGD	UBS AG (London)		1.327			01/17/2024		(3,657,000)		(3,657,000	)		(31,801	)		(18,340	)		(13,461	)
								(86,747,000)	$	(86,747,000	)	$	(754,802	)	$	(1,091,235	)	$	336,433
Total written option contracts								(174,682,000)	$	(174,682,000	)	$	(1,179,669	)	$	(1,633,931	)	$	454,262
TOTAL								(60,987,907)	$	(60,987,907	)	$	(6,091	)	$	190,125		$	(196,216	)

GOLDMAN SACHS STRATEGIC INCOME FUND

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

OVER-THE-COUNTER OPTIONS ON FOREIGN CURRENCY (continued)

Currency Abbreviations:
AUD	— Australian Dollar
BRL	— Brazil Real
CAD	— Canadian Dollar
CHF	— Swiss Franc
CNH	— Chinese Yuan Renminbi Offshore
CNY	— Chinese Yuan Renminbi
COP	— Colombia Peso
CZK	— Czech Republic Koruna
EUR	— Euro
GBP	— British Pound
HKD	— Hong Kong Dollar
ILS	— Israeli Shekel
JPY	— Japanese Yen
KRW	— South Korean Won
MXN	— Mexican Peso
NOK	— Norwegian Krone
NZD	— New Zealand Dollar
PLN	— Polish Zloty
SEK	— Swedish Krona
SGD	— Singapore Dollar
TRY	— Turkish Lira
TWD	— Taiwan Dollar
USD	— U.S. Dollar
ZAR	— South African Rand
Investment Abbreviations:
CLO	— Collateralized Loan Obligation
CMT	— Constant Maturity Treasury Indexes
GO	— General Obligation
LIBOR	— London Interbank Offered Rate
LLC	— Limited Liability Company
LP	— Limited Partnership
PI	— Private Investment
PIK	— Payment in kind
PLC	— Public Limited Company
REMICS	— Real Estate Mortgage Investment Conduits
SOFR	— Secured Overnight Financing Rate
STACR	— Structured Agency Credit Risk
USD	— U.S. Dollar

Abbreviations:
1M BID Avg	— 1 Month Brazilian Interbank Deposit Average
1M IRS	— 1 Month Interest Rate Swaptions
2M IRS	— 2 Months Interest Rate Swaptions
3M IRS	— 3 Months Interest Rate Swaptions
6M IRS	— 6 Months Interest Rate Swaptions
AUDOR	— Australian Dollar Offered Rate
BofA Securities	— Bank of America Securities LLC
CDOR	— Canadian Dollar Offered Rate
CHFOR	— Swiss Franc Offered Rate
EURO	— Euro Offered Rate
JIBAR	— Johannesburg Interbank Agreed Rate
JYOR	— Japanese Yen Offered Rate
KWCDC	— South Korean Won Certificate of Deposit
MS & Co. Int. PLC	— Morgan Stanley & Co. International PLC
NIBOR	— Norwegian Interbank Offered Rate
NZDOR	— New Zealand Dollar Offered Rate
SOFR	— Secured Overnight Financing Rate
STIBOR	— Stockholm Interbank Offered Rate
TIIE	— La Tasa de Interbank Equilibrium Interest Rate
USD	— U.S. Dollar
WIBOR	— Warsaw Interbank Offered Rate

GOLDMAN SACHS MULTI SECTOR FIXED INCOME FUNDS

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS

Investment Valuation — The Funds’ valuation policy is to value investments at fair value.

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 and GSAMI’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 and GSAMI 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 and GSAMI 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 and GSAMI 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 and 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. Securities traded on certain foreign securities exchanges are valued daily at fair value determined by an independent fair value service (if available) under the Valuation Procedures and consistent with applicable regulatory guidance. The independent fair value service takes into account multiple factors including, but not limited to, movements in the securities markets, certain depositary receipts, futures contracts and foreign currency exchange rates that have occurred subsequent to the close of the foreign securities exchange. These investments are generally classified as Level 2 of the fair value hierarchy.

GOLDMAN SACHS MULTI SECTOR FIXED INCOME FUNDS

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)

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 Fund’s 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.

Debt Securities — Debt securities for which market quotations are readily available are valued daily on the basis of quotations supplied by dealers or an independent pricing service. The pricing services may use valuation models or matrix pricing, which consider: (i) yield or price with respect to bonds that are considered comparable in characteristics such as rating, interest rate and maturity date or (ii) quotations from securities dealers to determine current value. With the exception of treasury securities of G7 countries, which are generally classified as Level 1, these investments are generally classified as Level 2 of the fair value hierarchy.

i. Bank Loans — Bank loans (“Loans”) are interests in amounts owed by corporate, governmental, or other borrowers to lenders or lending syndicates. Loans are arranged through private negotiations between the borrower and one or more financial institutions (“Lenders”). The Fund’s investments in Loans are in the form of either participations in Loans (“Participations”) or assignments of all or a portion of Loans from third parties (“Assignments”). With respect to Participations, the Fund has the right to receive payments of principal, interest and any fees to which it is entitled from the Lender selling the Participations and only upon receipt by the Lender of the payments from the borrower. The Fund generally has no right to enforce compliance by the borrower with the terms of the loan agreement with respect to Participations. Conversely, assignments result in the Fund having a direct contractual relationship with the borrower, and the Fund may be permitted to enforce compliance by the borrower with the terms of the loan agreement.

The Income, Long Short Credit Strategies and Strategic Income Funds may also enter into certain credit arrangements, all or a portion of which may be unfunded. Unfunded loan commitments represent the remaining obligation of a Fund to the borrower. A Fund is obligated to fund these commitments at the borrower’s discretion. A Fund may receive a commitment fee based on the undrawn portion of the underlying line of credit of a loan. All loans and unfunded loan commitments involve interest rate risk, liquidity risk and credit risk, including the potential default or insolvency of the borrower. Loans, including unfunded loan commitments, are marked to market daily using pricing vendor quotations and the change in value, if any, is recorded as an unrealized gain or loss.

ii. Commercial Paper — Commercial paper normally represents short-term unsecured promissory notes issued in bearer form by banks or bank holding companies, corporations, finance companies and other issuers. Commercial paper consists of direct U.S. dollar-denominated obligations of domestic or foreign issuers. Asset-backed commercial paper is issued by a special purpose entity that is organized to issue the commercial paper and to purchase trade receivables or other financial assets.

iii. Inverse Floaters — The interest rate on inverse floating rate securities (“inverse floaters”) resets in the opposite direction from the market rate of interest to which the inverse floaters are indexed. An inverse floater may be considered to be leveraged to the extent that its interest rate varies by a magnitude that exceeds the magnitude of the change in the index rate of interest. The higher the degree of leverage of an inverse floater, the greater the volatility of its market value.

iv. Mortgage-Backed and Asset-Backed Securities — Mortgage-backed securities represent direct or indirect participations in, or are collateralized by and payable from, mortgage loans secured by residential and/or commercial real estate property. Asset-backed securities include securities whose principal and interest payments are collateralized by pools of other assets or receivables. The value of certain mortgage-backed and asset-backed securities (including adjustable rate mortgage loans) may be particularly sensitive to changes in prevailing interest rates. The value of these securities may also fluctuate in response to the market’s perception of the creditworthiness of the issuers.

GOLDMAN SACHS MULTI SECTOR FIXED INCOME FUNDS

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)

Asset-backed securities may present credit risks that are not presented by mortgage-backed securities because they generally do not have the benefit of a security interest in collateral that is comparable to mortgage assets. Some asset-backed securities may only have a subordinated claim on collateral.

Stripped mortgage-backed securities are usually structured with two different classes: one that receives substantially all interest payments (interest-only, or “IO” and/or high coupon rate with relatively low principal amount, or “IOette”), and the other that receives substantially all principal payments (principal-only, or “PO”) from a pool of mortgage loans. Little to no principal will be received at the maturity of an IO; as a result, periodic adjustments are recorded to reduce the cost of the security until maturity. These adjustments are included in interest income.

v. Mortgage Dollar Rolls — Mortgage dollar rolls are transactions whereby a Fund sells mortgage-backed-securities and simultaneously contracts with the same counterparty to repurchase similar securities on a specified future date. During the settlement period, a Fund will not be entitled to accrue interest and receive principal payments on the securities sold. The Funds account for mortgage dollar roll transactions as purchases and sales and realize gains and losses on these transactions.

vi. Structured Notes — The values of structured notes are based on the price movements of a reference security or index. Upon termination, a Fund will receive a payment from the issuer based on the value of the referenced instrument (notional amount multiplied by price of the referenced instrument) and record a realized gain or loss. Structured notes that are exchange traded are generally classified as Level 1 of the fair value hierarchy.

vii. When-Issued Securities and Forward Commitments — When-issued securities, including TBA (“To Be Announced”) securities, are securities that are authorized but not yet issued in the market and purchased in order to secure what is considered to be an advantageous price or yield to a Fund. A forward commitment involves entering into a contract to purchase or sell securities, typically on an extended settlement basis, for a fixed price at a future date. The purchase of securities on a when-issued or forward commitment basis involves a risk of loss if the value of the security to be purchased declines before the settlement date. Conversely, the sale of securities on a forward commitment basis involves the risk that the value of the securities sold may increase before the settlement date. Although a Fund will generally purchase securities on a when-issued or forward commitment basis with the intention of acquiring the securities for its portfolio, the Fund may dispose of when-issued securities or forward commitments prior to settlement, which may result in a realized gain or loss. 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 receivables/payables for collateral on other investments. Non-cash collateral pledged by a Fund, if any, is noted in the Schedules of Investments.

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 midpoint of the bid and ask prices on the exchange where they are principally traded (or, in the absence of two-way trading, at the last bid price for long positions and the last ask price for short positions). 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

GOLDMAN SACHS MULTI SECTOR FIXED INCOME FUNDS

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)

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. Forward Contracts — A forward contract is a contract between two parties to buy or sell an asset at a specified price on a future date. A forward contract settlement can occur on a cash or delivery basis. Forward contracts are marked-to-market daily using independent vendor prices, and the change in value, if any, is recorded as an unrealized gain or loss. Cash and certain investments may be used to collateralize forward contracts.

A forward foreign currency exchange contract is a forward contract in which a Fund agrees to receive or deliver a fixed quantity of one currency for another, at a pre-determined price at a future date. All forward foreign currency exchange contracts are marked to market daily by using the outright forward rates or interpolating based upon maturity dates, where available. Non-deliverable forward foreign currency exchange contracts are settled with the counterparty in cash without the delivery of foreign currency.

ii. 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, the 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.

iii. 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.

iv. Swap Contracts — Bilateral swap contracts are agreements in which a Fund and a counterparty agree to exchange periodic payments on a specified notional amount or make a net payment upon termination. Bilateral swap transactions are privately negotiated in the OTC market and payments are settled through direct payments between a Fund and the counterparty. By contrast, certain swap transactions are subject to mandatory central clearing. These swaps are executed through a derivatives clearing member (“DCM”), acting in an agency capacity, and submitted to a central counterparty (“CCP”) (“centrally cleared swaps”), in which case all payments are settled with the CCP through the DCM. Swaps are marked-to-market daily using pricing vendor quotations, counterparty or clearinghouse prices or model prices, and the change in value, if any, is recorded as an unrealized gain or loss. Upon entering into a swap contract, a Fund is required to satisfy an initial margin requirement by delivering cash or securities to the counterparty (or in some cases, segregated in a triparty account on behalf of the counterparty), which can be adjusted by any mark-to-market gains or losses pursuant to bilateral or centrally cleared arrangements. For centrally cleared swaps the daily change in valuation, if any, is recorded as a receivable or payable for variation margin.

An interest rate swap is an agreement that obligates two parties to exchange a series of cash flows at specified intervals, based upon or calculated by reference to changes in interest rates on a specified notional principal amount. The payment flows are usually netted against each other, with the difference being paid by one party to the other.

A credit default swap is an agreement that involves one party (the buyer of protection) making a stream of payments to another party (the seller of protection) in exchange for the right to receive protection on a reference security or obligation, including a group of assets or exposure to the performance of an index. A Fund’s investment in credit default swaps may involve greater risks than if the Fund had invested in the referenced obligation directly. Credit events are contract specific but may include bankruptcy, failure to pay, restructuring and obligation acceleration. If a Fund buys protection through a credit default swap and no credit event occurs, its payments are limited to the periodic payments previously made to the

GOLDMAN SACHS MULTI SECTOR FIXED INCOME FUNDS

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)

counterparty. Upon the occurrence of a specified credit event, a Fund, as a buyer of credit protection, is entitled to receive an amount equal to the notional amount of the swap and deliver to the seller the defaulted reference obligation in a physically settled trade. A Fund may also receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap reduced by the recovery value of the reference obligation in a cash settled trade.

As a seller of protection, a Fund generally receives a payment stream throughout the term of the swap, provided that there is no credit event. In addition, if a Fund sells protection through a credit default swap, a Fund could suffer a loss because the value of the referenced obligation and the premium payments received may be less than the notional amount of the swap paid to the buyer of protection. Upon the occurrence of a specified credit event, a Fund, as a seller of credit protection, may be required to take possession of the defaulted reference obligation and pay the buyer an amount equal to the notional amount of the swap in a physically settled trade. A Fund may also pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap reduced by the recovery value of the reference obligation in a cash settled trade. Recovery values are at times established through the credit event auction process in which market participants are ensured that a transparent price has been set for the defaulted security or obligation. In addition, a Fund is entitled to a return of any assets, which have been pledged as collateral to the counterparty upon settlement.

The maximum potential amount of future payments (undiscounted) that a Fund as seller of protection could be required to make under a credit default swap would be an amount equal to the notional amount of the agreement. These potential amounts would be partially offset by any recovery values of the respective referenced obligations or net amounts received from a settlement of a credit default swap for the same reference security or obligation where a Fund bought credit protection.

A total return swap is an agreement that gives a Fund the right to receive the appreciation or depreciation, as applicable, in the value of a specified security, an index, a basket of securities or indices, or other instrument in return for a fee paid to the counterparty, which will typically be an agreed upon interest rate. If the underlying asset declines in value over the term of the swap, a Fund may also be required to pay the dollar value of that decline to the counterparty.

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 and GSAMI believes that such quotations do not accurately reflect fair value, the fair value of a Funds’ investments may be determined under the Valuation Procedures. GSAM and GSAMI, consistent with their 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.

GOLDMAN SACHS MULTI SECTOR FIXED INCOME FUNDS

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)

Fair Value Hierarchy — The following is a summary of the Funds’ investments and derivatives classified in the fair value hierarchy as of December 31, 2023:

BOND
Investment Type	Level 1			Level 2			Level 3
Assets
Fixed Income
Mortgage-Backed Obligations	$	—		$	174,747,513		$	—
Corporate Obligations		—			127,855,590			—
Asset-Backed Securities		—			39,238,629			—
U.S. Treasury Obligations		8,298,698			—			—
Agency Debentures		—			5,365,688			—
Municipal Debt Obligations		—			3,972,853			—
Sovereign Debt Obligations		—			1,882,546			—
Investment Companies		1,423,078			—			—
Short-term Investments		—			1,000,486			—
Total	$	9,721,776		$	354,063,305		$	—
Liabilities
Fixed Income
Mortgage-Backed Obligations — Forward Sales Contracts	$	—		$	(53,976,317	)	$	—
Derivative Type
Assets
Forward Foreign Currency Exchange Contracts(a)	$	—		$	2,776,395		$	—
Futures Contracts(a)		1,858,647			—			—
Interest Rate Swap Contracts(a)		—			5,657,913			—
Credit Default Swap Contracts(a)		—			32,761			—
Purchased Option Contracts		—			283,137			—
Total	$	1,858,647		$	8,750,206		$	—
Liabilities
Forward Foreign Currency Exchange Contracts(a)	$	—		$	(2,871,197	)	$	—
Futures Contracts(a)		(423,824	)		—			—
Interest Rate Swap Contracts(a)		—			(2,912,683	)		—
Written Option Contracts		—			(1,069,400	)		—
Total	$	(423,824	)	$	(6,853,280	)	$	—

GOLDMAN SACHS MULTI SECTOR FIXED INCOME FUNDS

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)

CORE FIXED INCOME
Investment Type	Level 1			Level 2			Level 3
Assets
Fixed Income
Mortgage-Backed Obligations	$	—		$	857,867,301		$	—
Corporate Obligations		—			600,012,105			—
U.S. Treasury Obligations		398,890,300			—			—
Asset-Backed Securities		—			169,706,038			—
Agency Debentures		—			33,423,949			—
Sovereign Debt Obligations		—			18,731,551			—
Municipal Debt Obligations		—			16,563,738			—
Investment Companies		23,705,129			—			—
Short-term Investments		—			15,771,119			—
Total	$	422,595,429		$	1,712,075,801		$	—
Liabilities
Fixed Income
Mortgage-Backed Obligations — Forward Sales Contracts	$	—		$	(263,927,658	)	$	—
Derivative Type
Assets
Forward Foreign Currency Exchange Contracts(a)	$	—		$	451,105		$	—
Futures Contracts(a)		7,129,268			—			—
Interest Rate Swap Contracts(a)		—			9,834,250			—
Credit Default Swap Contracts(a)		—			1,545,520			—
Purchased Option Contracts		—			30,747			—
Total	$	7,129,268		$	11,861,622		$	—
Liabilities
Forward Foreign Currency Exchange Contracts(a)	$	—		$	(481,240	)	$	—
Futures Contracts(a)		(1,916,209	)		—			—
Interest Rate Swap Contracts(a)		—			(4,979,835	)		—
Written Option Contracts		—			(1,666,941	)		—
Total	$	(1,916,209	)	$	(7,128,016	)	$	—

GOLDMAN SACHS MULTI SECTOR FIXED INCOME FUNDS

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)

GLOBAL CORE FIXED INCOME
Investment Type	Level 1			Level 2			Level 3
Assets
Fixed Income
Corporate Obligations	$	—		$	207,801,595		$	—
Sovereign Debt Obligations		150,058,066			36,682,962			—
Mortgage-Backed Obligations		—			161,393,575			—
Asset-Backed Securities		—			51,186,769			—
U.S. Treasury Obligations		1,827,696			—			—
Agency Debentures		—			1,350,739			—
Structured Note		—			1,074,185			—
Exchange Traded Funds		305,206			—			—
Investment Companies		3,881,647			—			—
Short-term Investments		30,161,025			—			—
Total	$	186,233,640		$	459,489,825		$	—
Liabilities
Fixed Income
Mortgage-Backed Obligations — Forward Sales Contracts	$	—		$	(43,104,919	)	$	—
Derivative Type
Assets
Forward Foreign Currency Exchange Contracts(a)	$	—		$	1,211,512		$	—
Futures Contracts(a)		3,820,709			—			—
Interest Rate Swap Contracts(a)		—			9,658,106			—
Credit Default Swap Contracts(a)		—			173,356			—
Purchased Option Contracts		—			23,196			—
Total	$	3,820,709		$	11,066,170		$	—
Liabilities
Forward Foreign Currency Exchange Contracts(a)	$	—		$	(9,129,092	)	$	—
Futures Contracts(a)		(213,653	)		—			—
Interest Rate Swap Contracts(a)		—			(5,250,022	)		—
Credit Default Swap Contracts(a)		—			(39,434	)		—
Written Option Contracts		—			(1,225,312	)		—
Total	$	(213,653	)	$	(15,643,860	)	$	—

GOLDMAN SACHS MULTI SECTOR FIXED INCOME FUNDS

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)

INCOME
Investment Type	Level 1			Level 2			Level 3
Assets
Fixed Income
Corporate Obligations	$	—		$	73,129,702		$	—
Mortgage-Backed Obligations		—			13,040,508			—
Asset-Backed Securities		—			4,465,274			—
Sovereign Debt Obligations		—			4,307,556			—
Bank Loans		—			4,111,201			70,125
U.S. Treasury Obligations		2,583,987			—			—
Common Stock and/or Other Equity Investments(b)
Europe		—			119,894			—
North America		235,936			—			—
Investment Companies		820,514			—			—
Short-term Investments		689,781			—			—
Total	$	4,330,218		$	99,174,135		$	70,125
Liabilities
Fixed Income
Mortgage-Backed Obligations — Forward Sales Contracts	$	—		$	(7,871,482	)	$	—
Derivative Type
Assets
Forward Foreign Currency Exchange Contracts(a)	$	—		$	61,883		$	—
Futures Contracts(a)		163,031			—			—
Credit Default Swap Contracts(a)		—			131,799			—
Total	$	163,031		$	193,682		$	—
Liabilities
Forward Foreign Currency Exchange Contracts(a)	$	—		$	(141,538	)	$	—
Futures Contracts(a)		(396,507	)		—			—
Interest Rate Swap Contracts(a)		—			(21,892	)		—
Total	$	(396,507	)	$	(163,430	)	$	—
LONG SHORT CREDIT STRATEGIES
Investment Type	Level 1			Level 2			Level 3
Assets
Fixed Income
Other Secured Debt Obligations	$	—		$	21,976,103		$	—
Bank Loans		—			9,519,728			93,500
Unsecured Debt Obligations		—			8,428,115			—
Common Stock and/or Other Equity Investments(b)
North America		228,356			—			—
Investment Company		2,621,210			—			—
Total	$	2,849,566		$	39,923,946		$	93,500

GOLDMAN SACHS MULTI SECTOR FIXED INCOME FUNDS

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)

LONG SHORT CREDIT STRATEGIES (continued)
Derivative Type	Level 1		Level 2			Level 3
Liabilities(a)
Forward Foreign Currency Exchange Contracts	$	—	$	(4,567	)	$	—
Interest Rate Swap Contracts		—		(2,496	)		—
Credit Default Swap Contracts		—		(463,369	)		—
Total	$	—	$	(470,432	)	$	—
STRATEGIC INCOME
Investment Type	Level 1		Level 2			Level 3
Assets
Fixed Income
Mortgage-Backed Obligations	$	—	$	316,221,892		$	—
U.S. Treasury Obligations		166,813,799		—			—
Corporate Obligations		—		154,314,107			—
Asset-Backed Securities		—		71,876,923			—
Bank Loans		—		11,404,945			—
Sovereign Debt Obligations		—		9,576,373			—
Municipal Debt Obligations		—		8,396,374			—
Common Stock and/or Other Equity Investments(b)
North America		646,714		—			—
Investment Companies		2,506,747		—			—
Short-term Investments		—		7,640,069			—
Total	$	169,967,260	$	579,430,683		$	—
Liabilities
Fixed Income
Mortgage-Backed Obligations — Forward Sales Contracts	$	—	$	(213,226,966	)	$	—
Derivative Type
Assets
Forward Foreign Currency Exchange Contracts(a)	$	—	$	8,639,769		$	—
Futures Contracts(a)		342,859		—			—
Interest Rate Swap Contracts(a)		—		31,524,599			—
Credit Default Swap Contracts(a)		—		394,599			—
Purchased Option Contracts		—		1,250,805			—
Total	$	342,859	$	41,809,772		$	—

GOLDMAN SACHS MULTI SECTOR FIXED INCOME FUNDS

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)

STRATEGIC INCOME (continued)
Derivative Type	Level 1			Level 2			Level 3
Liabilities
Forward Foreign Currency Exchange Contracts(a)	$	—		$	(8,973,837	)	$	—
Futures Contracts(a)		(3,028,915	)		—			—
Interest Rate Swap Contracts(a)		—			(17,049,745	)		—
Written Option Contracts		—			(5,386,286	)		—
Total	$	(3,028,915	)	$	(31,409,868	)	$	—

(a) Amount shown represents unrealized gain (loss) at period end.

(b) Amounts are disclosed by continent to highlight the impact of time zone differences between local market close and the calculation of net asset value. Security valuations are based on the principal exchange or system on which they are traded, which may differ from country of domicile. The Fund utilizes fair value model prices provided by an independent fair value service for international equities, resulting in a Level 2 classification.

For further information regarding security characteristics, see the Schedules of Investments.

The Funds’ risks include, but are not limited to, the following:

Collateralized Loan Obligations Risk — The Funds may invest in collateralized loan obligations (“CLOs”) and other similarly structured investments. A CLO is an asset-backed security whose underlying collateral is a pool of loans, which may include, among others, floating rate and fixed rate senior secured loans, senior unsecured loans, and subordinate corporate loans, including loans that may be rated below investment grade or equivalent unrated loans. In addition to the normal risks associated with loan- and credit-related securities discussed elsewhere in the Prospectus (e.g., loan-related investments risk, interest rate risk and default risk), investments in CLOs carry additional risks including, but not limited to, the risk that: (i) distributions from the collateral may not be adequate to make interest or other payments; (ii) the quality of the collateral may decline in value or default; (iii) the Funds’ may invest in tranches of CLOs that are subordinate to other tranches; (iv) the structure and complexity of the transaction and the legal documents could lead to disputes among investors regarding the characterization of proceeds; and (v) the CLO’s manager may perform poorly.

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 obligation, 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.

Floating and Variable Rate Obligations Risk — Floating rate and variable rate obligations are debt instruments issued by companies or other entities with interest rates that reset periodically (typically daily, monthly, quarterly, or semiannually) in response to changes in the market rate of interest on which the interest rate is based. Such market rates are generally the Secured Overnight Financing Rate, (“SOFR”), a term SOFR rate published by CME Group Benchmark Administration Limited (CBA) calculated using certain derivatives markets (“Term SOFR”), the Prime Rate of a designated U.S. bank, the Federal Funds Rate, or another base lending rate used by commercial lenders. For floating and variable rate obligations, there may be a lag between an actual change in the underlying interest rate benchmark and the reset time for an interest payment of such an obligation, which

GOLDMAN SACHS MULTI SECTOR FIXED INCOME FUNDS

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)

could harm or benefit a Fund, depending on the interest rate environment or other circumstances. In a rising interest rate environment, for example, a floating or variable rate obligation that does not reset immediately would prevent a Fund from taking full advantage of rising interest rates in a timely manner. However, in a declining interest rate environment, a Fund may benefit from a lag due to an obligation’s interest rate payment not being immediately impacted by a decline in interest rates.

Foreign and Emerging Countries Risk — Investing in foreign markets may involve special risks and considerations not typically associated with investing in the U.S. Foreign securities may be subject to risk of loss because of more or less foreign government regulation; less public information; less stringent investor protections; less stringent accounting, corporate governance, financial reporting and disclosure standards; and less economic, political and social stability in the countries in which a Fund invests. The imposition of sanctions, exchange controls (including repatriation restrictions), confiscation of assets and property, trade restrictions (including tariffs) and other government restrictions by the U.S. or other governments, or from problems in registration, settlement or custody, may also result in losses. The type and severity of sanctions and other similar measures, including counter sanctions and other retaliatory actions, that may be imposed could vary broadly in scope, and their impact is impossible to predict. For example, the imposition of sanctions and other similar measures could, among other things, cause a decline in the value and/or liquidity of securities issued by the sanctioned country or companies located in or economically tied to the sanctioned country and increase market volatility and disruption in the sanctioned country and throughout the world. Sanctions and other similar measures could limit or prevent a Fund from buying and selling securities (in the sanctioned country and other markets), significantly delay or prevent the settlement of securities transactions, and significantly impact a Fund’s liquidity and performance. Foreign risk also involves the risk of negative foreign currency exchange rate fluctuations, which may cause the value of securities denominated in such foreign currency (or other instruments through which a Fund has exposure to foreign currencies) to decline in value. Currency exchange rates may fluctuate significantly over short periods of time. To the extent that a Fund also invests in securities of issuers located in, or economically tied to, emerging markets, these risks may be more pronounced.

Foreign Custody Risk — The Funds’ invests in foreign securities, and as such the Fund may hold such securities and cash with foreign banks, agents, and securities depositories appointed by the Fund’s custodian (each a “Foreign Custodian”). Some foreign custodians may be recently organized or new to the foreign custody business. In some countries, Foreign Custodians may be subject to little or no regulatory oversight over, or independent evaluation of, their operations. Further, the laws of certain countries may place limitations on a Fund’s ability to recover its assets if a Foreign Custodian enters bankruptcy. Investments in emerging markets may be subject to even greater custody risks than investments in more developed markets. Custody services in emerging market countries are very often undeveloped and may be considerably less well regulated than in more developed countries, and thus may not afford the same level of investor protection as would apply in developed countries.

Interest Rate Risk — When interest rates increase, fixed income securities or instruments held by a Fund will generally decline in value. Long-term fixed income securities or instruments will normally have more price volatility because of this risk than short-term fixed income securities or instruments. A wide variety of market factors can cause interest rates to rise, including central bank monetary policy, rising inflation and changes in general economic conditions. Changing interest rates may have unpredictable effects on the markets, may result in heightened market volatility and may detract from Fund performance. In addition, changes in monetary policy may exacerbate the risks associated with changing interest rates. Funds with longer average portfolio durations will generally be more sensitive to changes in interest rates than funds with a shorter average portfolio duration. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Funds. A sudden or unpredictable increase in interest rates may cause volatility in the market and may decrease the liquidity of a Fund’s investments, which would make it harder for the Fund to sell its investments at an advantageous time.

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.

GOLDMAN SACHS MULTI SECTOR FIXED INCOME FUNDS

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)

Large Shareholder Transactions Risk — A Fund may experience adverse effects when certain large shareholders, such as other funds, institutional investors (including those trading by use of non-discretionary mathematical formulas), financial intermediaries (who may make investment decisions on behalf of underlying clients and/or include a Fund in their investment model), individuals, accounts and Goldman Sachs affiliates, purchase or redeem large amounts of shares of a Fund. Such large shareholder redemptions, which may occur rapidly or unexpectedly, may cause a Fund to sell portfolio securities at times when it would not otherwise do so, which may negatively impact a Fund’s NAV and liquidity. These transactions may also accelerate the realization of taxable income to shareholders if such sales of investments resulted in gains, and may also increase transaction costs. In addition, a large redemption could result in a Fund’s current expenses being allocated over a smaller asset base, leading to an increase in the Fund’s expense ratio. Similarly, large Fund share purchases may adversely affect a Fund’s performance to the extent that the Fund is delayed in investing new cash or otherwise maintains a larger cash position than it ordinarily would.

Liquidity Risk — A Fund may make investments that are illiquid or that may become less liquid in response to market developments or adverse investor perceptions. Illiquid investments may be more difficult to value. Liquidity risk may also refer to the risk that a Fund will not be able to pay redemption proceeds within the allowable time period or without significant dilution to remaining investors’ interests because of unusual market conditions, declining prices of the securities sold, an unusually high volume of redemption requests, or other reasons. To meet redemption requests, a Fund may be forced to sell investments at an unfavorable time and/or under unfavorable conditions. If a Fund is forced to sell securities at an unfavorable time and/or under unfavorable conditions, such sales may adversely affect a Fund’s NAV and dilute remaining investors’ interests. Liquidity risk may be the result of, among other things, the reduced number and capacity of traditional market participants to make a market in fixed income securities or the lack of an active market. The potential for liquidity risk may be magnified by a rising interest rate environment or other circumstances where investor redemptions from fixed income funds may be higher than normal, potentially causing increased supply in the market due to selling activity. These risks may be more pronounced in connection with the Funds’ investments in securities of issuers located in emerging market countries. Redemptions by large shareholders may have a negative impact on a Fund’s liquidity.

Loan-Related Investments Risk — In addition to risks generally associated with debt investments (e.g., interest rate risk and default risk), loan-related investments such as loan participations and assignments are subject to other risks. Although a loan obligation may be fully collateralized at the time of acquisition, the collateral may decline in value, be or become illiquid or less liquid, or lose all or substantially all of its value subsequent to investment. Many loan investments are subject to legal or contractual restrictions on resale and certain loan investments may be or become illiquid or less liquid and more difficult to value, particularly in the event of a downgrade of the loan or the borrower. There is less readily available, reliable information about most loan investments than is the case for many other types of securities. Substantial increases in interest rates may cause an increase in loan obligation defaults. With respect to loan participations, the Fund may not always have direct recourse against a borrower if the borrower fails to pay scheduled principal and/or interest; may be subject to greater delays, expenses and risks than if the Fund had purchased a direct obligation of the borrower; and may be regarded as the creditor of the agent lender (rather than the borrower), subjecting the Fund to the creditworthiness of that lender as well. Investors in loans, such as the Fund, may not be entitled to rely on the anti-fraud protections of the federal securities laws, although they may be entitled to certain contractual remedies. The market for loan obligations may be subject to irregular trading activity, wide bid/ask spreads and extended trade settlement periods. Because transactions in many loans are subject to extended trade settlement periods, the Fund may not receive the proceeds from the sale of a loan for a period after the sale. As a result, sale proceeds related to the sale of loans may not be available to make additional investments or to meet the Fund’s redemption obligations for a period after the sale of the loans, and, as a result, the Fund may have to sell other investments or engage in borrowing transactions, such as borrowing from its credit facility, if necessary to raise cash to meet its obligations.

Senior Loans hold the most senior position in the capital structure of a business entity, and are typically secured with specific collateral, but are nevertheless usually rated below investment grade. Because Second Lien Loans are subordinated or unsecured and thus lower in priority of payment to Senior Loans, they are subject to the additional risk that the cash flow of the borrower and property securing the loan or debt, if any, may be insufficient to meet scheduled payments after giving effect to the senior secured obligations of the borrower. Second Lien Loans generally have greater price volatility than Senior Loans and may be less liquid.

GOLDMAN SACHS MULTI SECTOR FIXED INCOME FUNDS

Schedule of Investments (continued)

December 31, 2023 (Unaudited)

NOTES TO THE SCHEDULE OF INVESTMENTS (continued)

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, military conflict, acts of terrorism, social unrest, natural disasters, recessions, inflation, rapid interest rate changes, supply chain disruptions, sanctions, 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 a Fund has unsettled or open transactions defaults.

Mortgage-Backed and Other Asset-Backed Securities Risk — Mortgage-related and other asset-backed securities are subject to credit/ default, interest rate and certain additional risks, including “extension risk” (i.e., in periods of rising interest rates, issuers may pay principal later than expected) and “prepayment risk” (i.e., in periods of declining interest rates, issuers may pay principal more quickly than expected, causing the Funds to reinvest proceeds at lower prevailing interest rates). Due to these risks, asset-backed securities may become more volatile in certain interest rate environments. Mortgage-backed securities offered by non-governmental issuers are subject to other risks as well, including failures of private insurers to meet their obligations and unexpectedly high rates of default on the mortgages backing the securities, particularly during periods of rising interest rates. Other asset-backed securities are subject to risks similar to those associated with mortgage-backed securities, as well as risks associated with the nature and servicing of the assets backing the securities. Asset-backed securities may not have the benefit of a security interest in collateral comparable to that of mortgage assets, resulting in additional credit risk.

Non-Investment Grade Fixed Income Securities Risk — Non-investment grade fixed income securities and unrated securities of comparable credit quality (commonly known as “junk bonds”) are considered speculative and are subject to the increased risk of an issuer’s inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as specific issuer developments, interest rate sensitivity, negative perceptions of the junk bond markets generally and less liquidity. The Fund may purchase the securities of issuers that are in default.

Portfolio Turnover Rate Risk — A high rate of portfolio turnover may involve correspondingly greater expenses which must be borne by the Funds’ and its shareholders, and is also likely to result in short-term capital gains taxable to shareholders.

Short Position Risk — A Fund may enter into a short position through a futures contract, an option or swap agreement or through short sales of any instrument that a Fund may purchase for investment. Taking short positions involves leverage of a Fund’s assets and presents various risks, including counterparty risk. If the value of the underlying instrument or market in which a Fund has taken a short position increases, then the the Fund will incur a loss equal to the increase in value from the time that the short position was entered into plus any related interest payments or other fees. Taking short positions involves the risk that losses may be disproportionate, may exceed the amount invested, and may be unlimited. To the extent that a Fund uses the proceeds it receives from a short position to take additional long positions, the risks associated with the short position, including leverage risks, may be heightened, because doing so increases the exposure of a Fund to the markets and therefore could magnify changes to a Fund’s NAV.