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GOLDMAN SACHS BOND FUND

Schedule of Investments

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – 64.0%
Collateralized Mortgage Obligations – 8.2%
Interest Only – 0.1%
Federal Home Loan Mortgage Corp. REMICS Series 4314, Class SE (-1X 1 mo. USD Term SOFR + 5.936%)
$	189,333		2.343	%^(a)(b)	03/15/44	$ 15,910
Federal National Mortgage Association REMICS Series 2017-31, Class SG (-1X 1 mo. USD Term SOFR + 5.986%)
	298,829		2.358	^(a)(b)	05/25/47	30,734
Federal National Mortgage Association REMICS Series 2012-5, Class SA (-1X 1 mo. USD Term SOFR + 5.836%)
	116,690		2.208	^(a)(b)	02/25/42	9,809
Government National Mortgage Association REMICS Series 2014- 132, Class SL (-1X 1 mo. USD Term SOFR + 5.986%)
	77,106		2.347	^(a)(b)(c)	10/20/43	2,912
Government National Mortgage Association REMICS Series 2014- 133, Class BS (-1X 1 mo. USD Term SOFR + 5.486%)
	79,582		1.847	^(a)(b)(c)	09/20/44	5,371
Government National Mortgage Association REMICS Series 2018- 122, Class HS (-1X 1 mo. USD Term SOFR + 6.086%)
	263,411		2.447	^(a)(b)(c)	09/20/48	28,556
Government National Mortgage Association REMICS Series 2019-6, Class SA (-1X 1 mo. USD Term SOFR + 5.936%)
	62,986		2.297	^(a)(b)(c)	01/20/49	6,550
Government National Mortgage Association REMICS Series 2019-1, Class SN (-1X 1 mo. USD Term SOFR + 5.936%)
	57,060		2.297	^(a)(b)(c)	01/20/49	5,835
Government National Mortgage Association REMICS Series 2014- 162, Class SA (-1X 1 mo. USD Term SOFR + 5.486%)
	68,849		1.847	^(a)(b)(c)	11/20/44	5,503
Government National Mortgage Association REMICS Series 2015- 123, Class SP (-1X 1 mo. USD Term SOFR + 6.136%)
	110,824		2.497	^(a)(b)(c)	09/20/45	12,156
Government National Mortgage Association REMICS Series 2016-27, Class IA
	84,502		4.000	^(c)(d)	06/20/45	10,795
Government National Mortgage Association REMICS Series 2018- 122, Class SE (-1X 1 mo. USD Term SOFR + 6.086%)
	182,321		2.447	^(a)(b)(c)	09/20/48	19,649
Government National Mortgage Association REMICS Series 2019- 153, Class EI
	826,823		4.000	^(c)(d)	12/20/49	177,161
Government National Mortgage Association REMICS Series 2010-20, Class SE (-1X 1 mo. USD Term SOFR + 6.136%)
	283,357		2.497	^(a)(b)(c)	02/20/40	26,510
Government National Mortgage Association REMICS Series 2015- 119, Class SN (-1X 1 mo. USD Term SOFR + 6.136%)
	89,422		2.497	^(a)(b)(c)	08/20/45	9,689
Government National Mortgage Association REMICS Series 2013- 181, Class SA (-1X 1 mo. USD Term SOFR + 5.986%)
	140,339		2.347	^(a)(b)(c)	11/20/43	12,629
Government National Mortgage Association REMICS Series 2015- 167, Class AS (-1X 1 mo. USD Term SOFR + 6.136%)
	67,208		2.497	^(a)(b)(c)	11/20/45	6,949

						386,718


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Regular Floater^(b)– 1.8%
Federal Home Loan Mortgage Corp. REMICS Series 5502, Class FG (1 mo. USD Term SOFR + 1.000%)
$	344,552		4.628	%	02/25/55	$ 345,006
Federal Home Loan Mortgage Corp. REMICS Series 5452, Class DF (1 mo. USD Term SOFR + 1.250%)
	715,275		4.878		09/25/54	719,977
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2024-DNA3, Class M2 (1 mo. USD Term SOFR + 1.450%)
	108,840		5.078	^(c)(e)	10/25/44	108,851
Federal National Mortgage Association REMICS Series 2025-11, Class FB (1 mo. USD Term SOFR + 1.000%)
	738,415		4.628		03/25/55	743,948
Federal National Mortgage Association REMICS Series 2024-70, Class FB (1 mo. USD Term SOFR + 1.100%)
	1,624,868		4.728		10/25/54	1,635,990
Federal National Mortgage Association REMICS Series 2025-13, Class FB (1 mo. USD Term SOFR + 1.300%)
	1,254,508		4.928		03/25/55	1,266,856
Government National Mortgage Association REMICS Series 2025- 150, Class FH (1 mo. USD Term SOFR + 1.100%)
	983,370		4.709	^(c)	09/20/55	991,832

						5,812,460

Sequential Fixed Rate – 2.6%
Angel Oak Mortgage Trust Series 2025-13, Class A1
	727,903		4.929	^(c)(e)(f)	10/25/70	722,005
BRAVO Residential Funding Trust Series 2025-NQM7, Class A1A
	783,797		5.459	^(c)(e)(f)	07/25/65	785,832
COLT Mortgage Loan Trust Series 2025-6, Class A1
	679,429		5.529	^(c)(e)(f)	08/25/70	681,431
Ellington Financial Mortgage Trust Series 2026-NQM4, Class A1A
	1,109,083		5.466	^(c)(e)(f)	04/25/71	1,109,440
Federal National Mortgage Association REMICS Series 2012-111, Class B
	9,774		7.000		10/25/42	10,394
Federal National Mortgage Association REMICS Series 2012-153, Class B
	26,606		7.000		07/25/42	28,315
Federal National Mortgage Association REMICS Series 2011-52, Class GB
	106,456		5.000		06/25/41	106,978
Federal National Mortgage Association REMICS Series 2005-70, Class PA
	13,147		5.500		08/25/35	13,407
Government National Mortgage Association REMICS Series 2021- 135, Class A
	2,081,559		2.000	^(c)	08/20/51	1,707,172
JP Morgan Mortgage Trust Series 2025-NQM4, Class A1A
	878,419		4.954	^(c)(e)(f)	03/25/66	870,044
OBX Trust Series 2025-NQM13, Class A1A
	416,303		5.441	^(c)(e)(f)	05/25/65	417,165
Verus Securitization Trust Series 2021-7, Class A1
	1,222,876		2.829	^(c)(e)(f)	10/25/66	1,110,969

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Sequential Fixed Rate – (continued)
Verus Securitization Trust Series 2025-1, Class A1A
$	910,559		5.620	%^(c)(e)(f)	01/25/70	$ 913,975

						8,477,127

Sequential Floating Rate^(b)(c)– 3.7%
Angel Oak Mortgage Trust Series 2019-6, Class B1
	850,000		3.941	^(e)	11/25/59	825,333
Angel Oak Mortgage Trust Series 2021-7, Class A1
	454,468		1.978	^(e)	10/25/66	396,899
CIM Trust Series 2019-INV3, Class A15
	40,234		3.500	^(e)	08/25/49	35,862
COLT Mortgage Loan Trust Series 2021-4, Class A1
	860,802		1.397	^(e)	10/25/66	734,720
Countrywide Alternative Loan Trust Series 2006-OC8, Class 2A3 (1 mo. USD Term SOFR + 0.614%)
	875,150		4.263		11/25/36	761,993
Ellington Financial Mortgage Trust Series 2022-1, Class A1
	807,838		2.206	^(e)	01/25/67	714,725
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2023-R08, Class 1B1 (1 mo. USD Term SOFR + 3.550%)
	330,000		7.178	^(e)	10/25/43	343,691
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2024-R01, Class 1M2 (1 mo. USD Term SOFR + 1.800%)
	225,000		5.428	^(e)	01/25/44	226,566
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2024-R04, Class 1M2 (1 mo. USD Term SOFR + 1.650%)
	241,053		5.278	^(e)	05/25/44	241,692
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2024-R03, Class 2M2 (1 mo. USD Term SOFR + 1.950%)
	250,000		5.578	^(e)	03/25/44	251,976
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2024-R06, Class 1M2 (1 mo. USD Term SOFR + 1.600%)
	239,365		5.228	^(e)	09/25/44	239,757
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2025-R01, Class 1B1 (1 mo. USD Term SOFR + 1.700%)
	350,000		5.328	^(e)	01/25/45	350,114
GCAT Trust Series 2019-NQM3, Class M1
	500,000		3.450	^(e)	11/25/59	485,373
GCAT Trust Series 2021-NQM5, Class A2
	521,859		1.417	^(e)	07/25/66	437,096
JP Morgan Alternative Loan Trust Series 2006-A7, Class 1A1 (1 mo. USD Term SOFR + 0.434%)
	86,127		4.083		12/25/36	81,341
JP Morgan Mortgage Trust Series 2021-LTV2, Class A1
	649,572		2.520	^(e)	05/25/52	536,458
JP Morgan Mortgage Trust Series 2024-VIS1, Class A1
	441,682		5.990	^(e)	07/25/64	443,072
JP Morgan Mortgage Trust Series 2024-3, Class A4
	789,608		3.000	^(e)	05/25/54	712,142


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Sequential Floating Rate^(b)(c)– (continued)
Mill City Mortgage Loan Trust Series 2017-2, Class A3
$	51,577		3.250	%^(e)	07/25/59	$ 50,565
Mill City Mortgage Loan Trust Series 2019-GS2, Class M1
	720,000		3.000	^(e)	08/25/59	671,752
Mill City Mortgage Loan Trust Series 2021-NMR1, Class M2
	760,000		2.500	^(e)	11/25/60	669,510
PRKCM Trust Series 2021-AFC2, Class A1
	567,636		2.071	^(e)	11/25/56	502,431
PRKCM Trust Series 2021-AFC2, Class A2
	625,000		2.693	^(e)	11/25/56	469,856
Starwood Mortgage Residential Trust Series 2021-6, Class A1
	279,325		1.920	^(e)	11/25/66	246,266
Starwood Mortgage Residential Trust Series 2020-2, Class B1E
	950,000		3.000	^(e)	04/25/60	931,900
Towd Point Mortgage Trust Series 2017-3, Class B2
	100,000		3.799	^(e)	07/25/57	89,391
Vista Point Securitization Trust Series 2020-2, Class M1
	500,000		3.401	^(e)	04/25/65	487,716
Wells Fargo Mortgage-Backed Securities Trust Series 2019-3, Class A1
	21,012		3.500	^(e)	07/25/49	18,789

						11,956,986

TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS						$ 26,633,291

Commercial Mortgage-Backed Securities – 15.0%
Regular Floater^(b)(e)– 0.8%
BX Commercial Mortgage Trust Series 2026-LP3, Class C (1 mo. USD Term SOFR + 1.750%)
$	495,305		5.375	%	04/15/43	$ 496,541
KSL Commercial Mortgage Trust Series 2026-HT3, Class B (1 mo. USD Term SOFR + 1.800%)
	700,000		5.400		06/15/43	700,614
TPG Trust Series 2024-WLSC, Class A (1 mo. USD Term SOFR + 2.133%)
	1,150,000		5.758		11/15/29	1,157,449
TPG Trust Series 2024-WLSC, Class B (1 mo. USD Term SOFR + 2.930%)
	250,000		6.556		11/15/29	254,110

						2,608,714

Sequential Fixed Rate – 3.3%
Bank Series 2021-BN35, Class A5
	950,000		2.285	^(c)	06/15/64	837,055
Bank5 Series 2024-5YR11, Class AS
	300,000		6.139	^(c)	11/15/57	307,228
BMO Mortgage Trust Series 2023-C7, Class A5
	900,000		6.160	^(c)	12/15/56	953,291
BWAY Mortgage Trust Series 2013-1515, Class A2
	531,988		3.454	^(c)(e)	03/10/33	512,554
COMM Mortgage Trust Series 2024-277P, Class A
	875,000		6.338	^(e)	08/10/44	904,335
DOLP Trust Series 2021-NYC, Class A
	700,000		2.956	^(e)	05/10/41	623,500

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Sequential Fixed Rate – (continued)
JP Morgan Chase Commercial Mortgage Securities Trust Series 2019-OSB, Class B
$	650,000		3.598	%^(c)(e)	06/05/39	$ 607,436
Manhattan West Mortgage Trust Series 2020-1MW, Class A
	750,000		2.130	^(e)	09/10/39	725,972
Morgan Stanley Capital I Trust Series 2018-H4, Class A4
	400,000		4.310	^(c)	12/15/51	394,492
MSWF Commercial Mortgage Trust Series 2023-2, Class A2
	635,723		6.890	^(c)	12/15/56	654,056
ROCK Trust Series 2024-CNTR, Class A
	1,500,000		5.388	^(e)	11/13/41	1,514,909
ROCK Trust Series 2024-CNTR, Class D
	950,000		7.109	^(e)	11/13/41	981,927
SLG Office Trust Series 2021-OVA, Class A
	600,000		2.585	^(e)	07/15/41	534,120
Wells Fargo Commercial Mortgage Trust Series 2017-C39, Class A5
	1,125,000		3.418	^(c)	09/15/50	1,107,228

						10,658,103

Sequential Floating Rate^(b)– 10.9%
Bank Series 2022-BNK44, Class A5
	500,000		5.934	^(c)	11/15/55	521,212
Bank5 Series 2024-5YR8, Class C
	150,000		7.001	^(c)	08/15/57	153,524
Bank5 Series 2025-5YR16, Class AS
	950,000		5.751	^(c)	08/15/63	964,305
Bank5 Series 2026-5YR21, Class C
	250,000		6.365	^(c)	04/15/59	250,950
Bank5 Series 2026-5YR22, Class A3
	800,000		5.713	^(c)	06/15/59	825,112
Bank5 Trust Series 2025-5YR13, Class AS
	500,000		6.096	^(c)	01/15/58	512,574
BBCMS Mortgage Trust Series 2018-TALL, Class A (1 mo. USD Term SOFR + 0.919%)
	650,000		4.545	^(e)	03/15/37	617,782
BBCMS Mortgage Trust Series 2018-TALL, Class B (1 mo. USD Term SOFR + 1.168%)
	125,000		4.794	^(e)	03/15/37	116,209
BFLD Commercial Mortgage Trust Series 2025-5MW, Class C
	500,000		5.633	^(e)	10/10/42	497,763
BFLD Commercial Mortgage Trust Series 2025-660F, Class C (1 mo. USD Term SOFR + 2.150%)
	1,000,000		5.775	^(e)	11/15/42	1,002,558
BLP Commercial Mortgage Trust Series 2024-IND2, Class A (1 mo. USD Term SOFR + 1.342%)
	475,636		4.968	^(e)	03/15/41	475,740
BSTN Commercial Mortgage Trust Series 2025-1C, Class A
	675,000		5.548	^(e)	06/15/44	683,651
BX Commercial Mortgage Trust Series 2024-VLT5, Class A
	850,000		5.591	^(e)	11/13/46	845,871
BX Commercial Mortgage Trust Series 2026-CSMO, Class A (1 mo. USD Term SOFR + 1.400%)
	850,000		5.025	^(e)	02/15/43	851,665
BX Commercial Mortgage Trust Series 2026-VLT10, Class A
	500,000		5.358	^(e)	07/13/58	486,145


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Sequential Floating Rate^(b)– (continued)
BX Commercial Mortgage Trust Series 2026-VLT10, Class C
$	400,000		6.397	%^(e)	07/13/58	$ 388,734
BX Trust Series 2024-BIO, Class A (1 mo. USD Term SOFR + 1.642%)
	1,050,000		5.267	^(e)	02/15/41	1,050,488
BX Trust Series 2024-BRVE, Class A (1 mo. USD Term SOFR + 1.841%)
	812,944		5.466	^(e)	04/15/41	814,465
BX Trust Series 2024-BRVE, Class B (1 mo. USD Term SOFR + 2.540%)
	478,203		6.165	^(e)	04/15/41	479,992
BX Trust Series 2025-ROIC, Class A (1 mo. USD Term SOFR + 1.144%)
	674,768		4.769	^(e)	03/15/30	673,572
BX Trust Series 2025-ARIA, Class A
	1,400,000		5.199	^(e)	12/13/42	1,400,749
Durst Commercial Mortgage Trust Series 2025-151, Class A
	800,000		5.317	^(e)	08/10/42	803,179
Durst Commercial Mortgage Trust Series 2025-151, Class B
	1,000,000		5.768	^(e)	08/10/42	1,007,864
Durst Commercial Mortgage Trust Series 2025-151, Class C
	350,000		6.019	^(e)	08/10/42	354,208
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series KF153, Class AS (1 mo. USD Term SOFR + 0.680%)
	452,034		4.272	^(c)	02/25/33	452,447
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series KF73, Class AS (1 mo. USD SOFR Historical Calendar Day Compounded + 0.670%)
	196,108		4.262	^(c)	11/25/29	196,107
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series K544, Class A2
	1,350,000		4.266	^(c)	07/25/30	1,339,240
HLTN Commercial Mortgage Trust Series 2026-DPLO, Class A (1 mo. USD Term SOFR + 1.700%)
	1,800,000		5.325	^(e)	04/15/41	1,804,567
Hudson Yards Mortgage Trust Series 2025-SPRL, Class C
	340,000		6.151	^(e)	01/13/40	346,836
Hudson Yards Mortgage Trust Series 2025-SPRL, Class D
	375,000		6.551	^(e)	01/13/40	383,110
Hudson Yards Mortgage Trust Series 2025-SPRL, Class A
	800,000		5.649	^(e)	01/13/40	813,259
IRV Trust Series 2025-200P, Class A
	700,000		5.471	^(c)(e)	03/14/47	704,678
IRV Trust Series 2025-200P, Class C
	500,000		5.921	^(c)(e)	03/14/47	497,128
IRV Trust Series 2025-200P, Class D
	350,000		6.371	^(c)(e)	03/14/47	354,037
JP Morgan Chase Commercial Mortgage Securities Trust Series 2024-OMNI, Class A
	300,000		5.990	^(e)	10/05/39	301,846
KIND Commercial Mortgage Trust Series 2024-1, Class A (1 mo. USD Term SOFR + 1.890%)
	475,000		5.515	^(e)	08/15/41	475,364

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Sequential Floating Rate^(b)– (continued)
LBTY Commercial Mortgage Trust Series 2026-225L, Class D
$	900,000		5.899	%^(e)	02/10/43	$ 885,895
MAD Commercial Mortgage Trust Series 2025-11MD, Class D
	900,000		6.571	^(e)	10/15/42	906,551
Manhattan West Mortgage Trust Series 2026-2MW, Class A
	900,000		5.499	^(e)	06/10/48	906,529
Manhattan West Mortgage Trust Series 2026-2MW, Class B
	500,000		5.718	^(e)	06/10/48	502,622
MTN Commercial Mortgage Trust Series 2026-LPFX, Class C
	500,000		5.757	^(e)	05/15/43	500,781
NY Commercial Mortgage Trust Series 2025-299P, Class B
	450,000		6.125	^(e)	02/10/47	460,956
NYC Commercial Mortgage Trust Series 2025-11X, Class A (1 mo. USD Term SOFR + 1.743%)
	1,000,000		5.368	^(e)	10/15/40	1,003,944
NYC Commercial Mortgage Trust Series 2025-11X, Class B (1 mo. USD Term SOFR + 2.093%)
	550,000		5.718	^(e)	10/15/40	551,632
NYC Commercial Mortgage Trust Series 2026-9W57, Class A
	1,500,000		5.053	^(c)(e)	06/06/40	1,493,096
NYC Commercial Mortgage Trust Series 2026-9W57, Class B
	600,000		5.353	^(c)(e)	06/06/40	597,062
One New York Plaza Trust Series 2020-1NYP, Class A (1 mo. USD Term SOFR + 1.064%)
	542,747		4.691	^(e)	01/15/36	526,263
TEXAS Commercial Mortgage Trust Series 2025-TWR, Class C (1 mo. USD Term SOFR + 2.142%)
	150,000		5.767	^(e)	04/15/42	149,417
VTR Commercial Mortgage Trust Series 2025-STEM, Class A
	850,000		5.201	^(e)	10/13/39	840,310
VTR Commercial Mortgage Trust Series 2025-STEM, Class C
	300,000		6.057	^(e)	10/13/39	295,345
Wells Fargo Commercial Mortgage Trust Series 2024-1CHI, Class A
	875,000		5.484	^(e)	07/15/35	875,586
Wells Fargo Commercial Mortgage Trust Series 2024-1CHI, Class B
	550,000		5.935	^(e)	07/15/35	550,174
Wells Fargo Commercial Mortgage Trust Series 2026-1250B, Class A
	750,000		4.833	^(e)	03/10/41	740,223

						35,233,317

TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES						$ 48,500,134

Federal Agencies – 40.8%
Adjustable Rate Federal Home Loan Mortgage Corp.^(b)– 0.0%
(RFUCC 1 yr. Treasury + 1.785%)
$	1,106		6.535	%	09/01/35	$ 1,141

Federal Home Loan Mortgage Corp. – 0.4%
	5,845		6.000		08/01/27	5,867
	3,422		5.000		08/01/33	3,447
	530		5.000		09/01/33	533
	928		5.000		10/01/33	934
	847		5.000		11/01/34	854
	35,715		5.000		12/01/34	35,997
	1,183		5.000		07/01/35	1,192


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Federal Home Loan Mortgage Corp. – (continued)
$	1		5.000	%	11/01/35	$ 1
	12,601		5.000		03/01/39	12,719
	1,031		5.000		05/01/39	1,040
	796		5.000		08/01/40	801
	10,479		4.000		02/01/41	10,159
	817		5.000		06/01/41	822
	272,816		4.000		03/01/48	259,298
	277,370		4.000		04/01/48	263,359
	779,022		4.500		08/01/48	762,220

						1,359,243

Federal National Mortgage Association – 1.5%
	4,801,134		5.500		11/01/55	4,844,696

Government National Mortgage Association – 10.9%
	5,170		5.500		11/15/32	5,248
	2,514		5.500		01/15/33	2,540
	11,844		5.500		02/15/33	12,086
	10,634		5.500		03/15/33	10,834
	12,442		5.500		07/15/33	12,660
	5,911		5.500		08/15/33	6,008
	1,584		5.500		09/15/33	1,605
	6,238		5.500		04/15/34	6,338
	4,630		5.500		05/15/34	4,697
	48,185		5.500		09/15/34	49,437
	50,964		5.500		12/15/34	52,306
	37,693		5.500		01/15/35	38,706
	146		5.500		05/15/36	148
	1,921		4.000		02/20/41	1,846
	3,078		4.000		11/20/41	2,953
	522		4.000		01/20/42	501
	1,676		4.000		04/20/42	1,608
	1,047		4.000		10/20/42	1,003
	267,616		4.000		08/20/43	255,988
	1,494		4.000		03/20/44	1,428
	1,832		4.000		05/20/44	1,750
	127,856		4.000		11/20/44	121,958
	30,923		4.000		12/20/44	29,496
	8,406		4.000		05/20/45	8,012
	30,514		4.000		07/20/45	29,065
	165,871		4.000		01/20/46	157,866
	530,992		4.500		05/20/48	520,526
	792,751		4.500		08/20/48	776,382
	89,521		5.000		08/20/48	90,143
	557,372		4.500		09/20/48	545,863
	644,015		5.000		10/20/48	648,087
	362,132		5.000		11/20/48	364,421
	369,585		5.000		12/20/48	371,690
	861,467		4.500		01/20/49	842,603
	682,844		5.000		01/20/49	686,308
	345,902		4.000		02/20/49	326,986
	705,649		4.500		02/20/49	689,976
	18,006		4.500		03/20/49	17,612
	220,931		4.000		03/20/49	208,849
	59,320		5.000		03/20/49	59,658

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Government National Mortgage Association – (continued)
$	372,016		4.000	%	04/20/49	$ 351,672
	492,993		3.000		08/20/49	440,692
	213,840		4.500		10/20/49	209,158
	221,358		4.500		12/20/49	216,511
	961,342		3.000		03/20/50	856,404
	202,173		4.000		01/20/51	190,991
	242,075		2.500		09/20/51	207,018
	442,276		2.500		11/20/51	379,332
	764,647		3.000		11/20/51	677,871
	254,483		2.500		12/20/51	218,266
	1,379,137		4.500		09/20/52	1,338,543
	1,435,427		5.000		02/20/56	1,421,983
	4,000,000		2.500		TBA-30yr^(g)	3,414,354
	3,000,000		2.000		TBA-30yr^(g)	2,457,432
	3,000,000		3.500		TBA-30yr^(g)	2,692,851
	1,000,000		5.000		TBA-30yr^(g)	985,778
	3,000,000		5.500		TBA-30yr^(g)	3,014,582
	9,000,000		6.000		TBA-30yr^(g)	9,182,398

						35,221,027

Uniform Mortgage-Backed Security – 28.0%
	1,664		4.500		02/01/39	1,647
	1,414		4.500		04/01/39	1,401
	33,048		4.500		12/01/39	32,751
	32,874		4.500		06/01/40	32,535
	12,818		4.500		08/01/41	12,689
	14,491		3.000		12/01/42	13,387
	46,839		3.000		01/01/43	43,062
	11,908		3.000		02/01/43	10,970
	4,924		3.000		03/01/43	4,558
	57,527		3.000		04/01/43	52,648
	14,775		3.000		05/01/43	13,473
	13,091		3.000		06/01/43	11,937
	9,393		5.000		06/01/44	9,482
	11,163		3.500		03/01/45	10,352
	670,807		4.500		04/01/45	661,868
	181,687		3.000		04/01/45	162,882
	80,784		4.500		05/01/45	79,681
	324,418		4.500		06/01/45	319,370
	20,384		4.000		03/01/46	19,487
	25,988		4.000		06/01/46	24,754
	7,787		4.000		08/01/46	7,418
	57,818		4.000		10/01/46	55,073
	46,086		4.000		06/01/47	43,838
	227,334		4.500		07/01/47	222,289
	119,108		4.500		11/01/47	116,428
	139,804		4.000		12/01/47	132,855
	405,744		4.000		01/01/48	385,575
	427,689		4.000		02/01/48	406,524
	309,420		4.000		03/01/48	294,039
	377,099		4.500		05/01/48	367,081
	412,367		4.000		06/01/48	391,610
	198,355		4.500		09/01/48	193,830
	833,907		5.000		11/01/48	837,577
	1,316,035		3.000		09/01/49	1,172,797


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Uniform Mortgage-Backed Security – (continued)
$	24,160		4.500	%	10/01/49	$ 23,435
	691,655		4.500		01/01/50	674,129
	1,615,826		4.000		03/01/50	1,530,455
	3,718,844		4.500		03/01/50	3,624,668
	688,843		2.500		09/01/50	589,537
	4,832,798		2.000		10/01/50	3,909,137
	5,424,957		3.000		10/01/50	4,815,622
	1,670,486		3.000		11/01/50	1,481,362
	4,831,661		2.000		11/01/50	3,906,532
	1,955,119		3.000		12/01/50	1,735,603
	2,320,726		2.500		02/01/51	1,960,532
	2,607,739		2.000		03/01/51	2,110,249
	470,411		2.000		04/01/51	379,159
	9,017,167		2.000		05/01/51	7,271,801
	3,565,438		2.500		05/01/51	3,028,642
	806,708		2.500		08/01/51	688,394
	4,703,801		2.500		09/01/51	4,003,866
	2,297,534		6.000		11/01/52	2,386,039
	412,327		6.000		12/01/52	428,103
	2,248,471		4.500		05/01/53	2,187,507
	1,667,518		6.500		09/01/53	1,734,423
	634,000		6.500		12/01/53	664,688
	1,738,376		6.000		01/01/54	1,779,212
	2,112,207		6.500		06/01/54	2,217,746
	1,901,116		6.000		08/01/55	1,954,099
	2,000,000		2.500		TBA-30yr^(g)	1,670,703
	1,000,000		3.500		TBA-30yr^(g)	907,773
	12,000,000		5.500		TBA-30yr^(g)	12,039,844
	9,000,000		6.000		TBA-30yr^(g)	9,194,063
	5,000,000		4.500		TBA-30yr^(g)	4,939,649
	1,000,000		6.500		TBA-30yr^(g)	1,034,297

						91,017,137

TOTAL FEDERAL AGENCIES						$132,443,244

TOTAL MORTGAGE-BACKED OBLIGATIONS (Cost $210,145,382)						$207,576,669



Corporate Obligations – 31.5%
Advertising^(c)(e)– 0.2%
Lamar Media Corp.
$	510,000		5.375	%	11/01/33	$ 499,820

Aerospace & Defense^(c)– 0.8%
ATI, Inc.
	145,000		5.875		06/15/33	147,004
Boeing Co.
	145,000		2.950		02/01/30	136,372
	1,211,000		5.150		05/01/30	1,225,677
	457,000		6.528		05/01/34	496,860
	25,000		3.500		03/01/39	20,390
	15,000		3.375		06/15/46	10,525
	386,000		6.858		05/01/54	433,721

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Aerospace & Defense^(c)– (continued)
Moog, Inc.^(e)
$	120,000		5.500	%	10/15/34	$ 118,333
TransDigm, Inc.^(e)
	165,000		6.125		07/31/34	164,850

						2,753,732

Agriculture^(c)– 0.6%
BAT Capital Corp.
	1,050,000		6.000		02/20/34	1,107,519
	835,000		5.625		08/15/35	860,927

						1,968,446

Airlines^(c)– 0.1%
United Airlines Holdings, Inc.
	299,000		5.375		03/01/31	297,230

Automotive^(c)– 0.8%
Ford Motor Credit Co. LLC
	500,000		5.850		05/17/27	503,625
	1,370,000		5.420		04/09/31	1,358,341
General Motors Financial Co., Inc.
	500,000		2.350		01/08/31	447,350
Qnity Electronics, Inc.^(e)
	120,000		5.750		08/15/32	120,720
	80,000		6.250		08/15/33	81,411

						2,511,447

Banks – 6.1%
Banco Mercantil del Norte SA^(b)(c)(e)(5 yr. CMT + 4.643%)
	260,000		5.875		01/24/27	258,401
Banco Santander SA
	200,000		2.749		12/03/30	181,380
	600,000		6.921		08/08/33	652,062
Bank of America Corp.^(b)(c)
(3 mo. USD Term SOFR + 1.252%)
	75,000		2.496		02/13/31	69,317
(5 yr. CMT + 1.200%)
	475,000		2.482		09/21/36	414,713
(Secured Overnight Financing Rate + 1.130%)
	1,925,000		5.045		02/06/37	1,895,721
(Secured Overnight Financing Rate + 1.530%)
	600,000		1.898		07/23/31	535,764
(Secured Overnight Financing Rate + 1.572%)
	955,000		5.489		04/23/37	952,603
(Secured Overnight Financing Rate + 1.830%)
	275,000		4.571		04/27/33	269,723
BPCE SA^(e)
	525,000		4.625		09/12/28	523,582
Citigroup, Inc.^(b)(c)
(5 yr. CMT + 3.001%)
	365,000		6.625		02/15/31	371,245
(Secured Overnight Financing Rate + 1.422%)
	550,000		2.976		11/05/30	519,480
(Secured Overnight Financing Rate + 1.830%)
	355,000		6.020		01/24/36	366,112


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Banks – (continued)
(Secured Overnight Financing Rate + 2.086%)
$	800,000		4.910	%	05/24/33	$ 796,056
First Horizon Corp.^(b)(c)(Secured Overnight Financing Rate + 1.766%)
	330,000		5.514		03/07/31	334,089
JPMorgan Chase & Co.^(b)(c)
(3 mo. USD Term SOFR + 2.515%)
	200,000		2.956		05/13/31	186,718
(Secured Overnight Financing Rate + 0.840%)
	795,000		4.347		01/22/32	778,695
(Secured Overnight Financing Rate + 1.070%)
	1,085,000		4.898		01/22/37	1,057,094
(Secured Overnight Financing Rate + 1.300%)
	475,000		5.193		02/05/37	468,060
(Secured Overnight Financing Rate + 1.680%)
	840,000		5.572		04/22/36	863,654
KeyCorp^(b)(c)(Secured Overnight Financing Rate + 2.060%)
	950,000		4.789		06/01/33	930,449
M&T Bank Corp.^(b)(c)(Secured Overnight Financing Rate + 2.260%)
	650,000		6.082		03/13/32	678,262
Morgan Stanley^(b)(c)
(3 mo. USD Term SOFR + 1.890%)
	200,000		4.431		01/23/30	198,198
(Secured Overnight Financing Rate + 1.034%)
	750,000		1.794		02/13/32	652,552
(Secured Overnight Financing Rate + 1.143%)
	725,000		2.699		01/22/31	673,554
(Secured Overnight Financing Rate + 1.184%)
	925,000		5.073		01/30/37	904,826
(Secured Overnight Financing Rate + 1.290%)
	141,000		2.943		01/21/33	126,818
(Secured Overnight Financing Rate + 1.757%)
	310,000		5.664		04/17/36	318,045
NatWest Group PLC^(b)(c)(1 yr. CMT + 1.050%)
	200,000		5.115		05/23/31	201,172
U.S. Bancorp^(b)(c)
(5 yr. CMT + 2.541%)
	650,000		3.700		01/15/27	643,487
(Secured Overnight Financing Rate + 1.296%)
	890,000		5.083		05/15/31	899,754
UBS Group AG^(b)(c)(e)
(5 yr. CMT + 4.758%)
	200,000		9.250		11/13/33	230,832
(Secured Overnight Financing Rate + 1.340%)
	1,305,000		5.199		08/10/37	1,284,655
(Secured Overnight Financing Rate + 1.760%)
	510,000		5.580		05/09/36	519,180

						19,756,253

Beverages^(c)– 0.5%
Constellation Brands, Inc.
	325,000		2.250		08/01/31	286,832
JDE Peet’s NV^(e)
	375,000		1.375		01/15/27	367,984

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Beverages^(c)– (continued)
Keurig Dr. Pepper, Inc.
$	925,000		2.250	%	03/15/31	$ 821,455

						1,476,271

Biotechnology^(c)– 0.3%
Genmab AS/Genmab Finance LLC^(e)
	495,000		6.250		12/15/32	504,266
Royalty Pharma PLC
	461,000		5.400		09/02/34	464,725

						968,991

Building Materials^(c)– 0.2%
Cemex SAB de CV
	200,000		5.750		06/05/36	199,300
Standard Building Solutions, Inc.^(e)
	358,000		6.250		08/01/33	355,304

						554,604

Chemicals^(c)– 0.4%
OCP SA
	420,000		6.750	^(e)	05/02/34	441,776
	360,000		7.500		05/02/54	390,222
Solstice Advanced Materials, Inc.^(e)
	355,000		5.625		09/30/33	352,714
WR Grace Holdings LLC^(e)
	165,000		7.000		08/01/33	160,857

						1,345,569

Commercial Services – 1.5%
APi Group DE, Inc.^(c)(e)
	515,000		5.750		06/01/34	510,808
Ashtead Capital, Inc.^(c)(e)
	301,000		5.800		04/15/34	306,400
Block, Inc.^(c)
	225,000		6.500		05/15/32	229,770
	145,000		6.000	^(e)	08/15/33	145,916
Brink’s Co.^(c)(e)
	70,000		6.500		06/15/29	71,415
CompoSecure Holdings LLC^(c)(e)
	505,000		5.625		02/01/33	492,880
Cornell University^(c)
	830,000		4.733		06/15/35	817,010
CoStar Group, Inc.^(c)(e)
	625,000		2.800		07/15/30	562,744
DP World Crescent Ltd.^(e)
	560,000		5.500		05/08/35	560,840
Global Payments, Inc.^(c)
	530,000		5.550		11/15/35	513,475
Graham Holdings Co.^(c)(e)
	630,000		5.625		12/01/33	623,700

						4,834,958

Computers^(c)– 0.2%
CACI International, Inc.^(e)
	515,000		6.375		06/15/33	522,334


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Computers^(c)– (continued)
Seagate Data Storage Technology Pte. Ltd.
$	225,000		5.875	%	07/15/30	$ 228,204

						750,538

Cosmetics & Personal Care^(c)(e)– 0.1%
Opal Bidco SAS
	345,000		6.500		03/31/32	351,876

Diversified Financial Services – 1.8%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust^(c)
	275,000		3.400		10/29/33	244,687
American Express Co.^(b)(c)(Secured Overnight Financing Rate + 1.237%)
	595,000		4.804		10/24/36	576,977
Compute Financing LLC^(h)
	1,875,000		0.000		06/15/34	1,869,443
Rocket Cos., Inc.^(c)(e)
	225,000		6.125		08/01/30	229,100
	212,000		6.125		08/01/31	216,518
	255,000		6.375		08/01/33	259,406
SLM Corp.^(b)(c)(Secured Overnight Financing Rate + 2.710%)
	375,000		6.495		05/15/32	375,068
Stonex Escrow Issuer LLC^(c)(e)
	440,000		6.875		07/15/32	452,430
Sumisho Air Lease Corp.^(c)(e)
	650,000		4.850		03/24/31	643,084
Synchrony Financial^(b)(c)(Secured Overnight Financing Rate + 1.530%)
	510,000		4.947		02/25/32	496,913
VFH Parent LLC/Valor Co-Issuer, Inc.^(c)(e)
	460,000		7.500		06/15/31	481,114

						5,844,740

Electrical^(c)– 0.1%
Ameren Corp.
	125,000		3.500		01/15/31	118,455
NRG Energy, Inc.^(e)
	270,000		5.875		05/15/34	268,491
Pacific Gas & Electric Co.
	125,000		3.300		08/01/40	93,641

						480,587

Electrical Components & Equipment^(c)(e)– 0.1%
WESCO Distribution, Inc.
	155,000		5.250		04/15/31	153,889
	220,000		5.500		04/15/34	217,674

						371,563

Electronics^(c)– 0.1%
Allegion U.S. Holding Co., Inc.
	256,000		5.600		05/29/34	261,363
Atkore, Inc.^(e)
	15,000		4.250		06/01/31	14,357

						275,720

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Engineering & Construction^(c)– 0.7%
AECOM^(e)
$	517,000		6.000	%	08/01/33	$ 517,599
Global Infrastructure Solutions, Inc.^(e)
	410,000		6.375		07/15/34	412,862
Granite Construction, Inc.^(e)
	395,000		6.375		06/15/34	402,339
MasTec, Inc.^(e)
	610,000		4.500		08/15/28	604,193
Mexico City Airport Trust
	200,000		4.250		10/31/26	199,350
	250,000		3.875	^(e)	04/30/28	243,875

						2,380,218

Environmental^(c)(e)– 0.2%
GFL Environmental Holdings U.S., Inc.
	670,000		5.625		07/01/31	670,013

Food & Drug Retailing^(c)– 0.4%
Mars, Inc.^(e)
	775,000		5.000		03/01/32	780,216
Performance Food Group, Inc.^(e)
	485,000		5.625		03/01/34	476,333
Sysco Corp.
	50,000		6.600		04/01/40	54,153

						1,310,702

Healthcare Providers & Services^(c)– 2.3%
Adventist Health System
	1,095,000		4.742		12/01/30	1,084,840
	235,000		5.757		12/01/34	239,418
Ascension Health
	485,000		4.923		11/15/35	479,001
Baxter International, Inc.
	78,000		1.915		02/01/27	76,744
CommonSpirit Health
	290,000		4.352		09/01/30	283,508
	440,000		4.975		09/01/35	426,832
	635,000		3.910		10/01/50	471,452
	610,000		6.461		11/01/52	654,690
Elevance Health, Inc.
	830,000		4.600		09/15/32	813,632
HCA, Inc.
	770,000		5.450		04/01/31	786,609
	685,000		5.900		06/01/53	667,046
PeaceHealth Obligated Group
	335,000		4.335		11/15/28	332,188
Solventum Corp.
	1,070,000		5.600		03/23/34	1,094,749
STERIS Irish FinCo UnLtd Co.
	218,000		2.700		03/15/31	198,153

						7,608,862

Home Builders^(c)(e)– 0.2%
Installed Building Products, Inc.
	585,000		5.625		02/01/34	576,243


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Home Furnishings^(c)(e)– 0.1%
Whirlpool Corp.
$	205,000		7.500	%	07/01/31	$ 207,585

Insurance – 0.4%
Acrisure LLC/Acrisure Finance, Inc.^(c)(e)
	87,000		6.750		07/01/32	78,217
Ardonagh Finco Ltd.^(c)(e)
	215,000		7.750		02/15/31	217,455
Chubb INA Holdings LLC
	342,000		6.800		11/15/31	372,855
Pricoa Global Funding I^(e)
	542,000		4.750		08/26/32	534,098

						1,202,625

Internet^(c)– 0.8%
Expedia Group, Inc.
	200,000		3.250		02/15/30	189,862
	81,000		2.950		03/15/31	74,410
	375,000		5.400		02/15/35	371,303
Match Group Holdings II LLC^(e)
	515,000		6.125		09/15/33	508,995
Meta Platforms, Inc.
	650,000		4.875		11/15/35	632,482
Snap, Inc.^(e)
	339,000		6.875		03/15/34	328,223
Wayfair LLC^(e)
	350,000		6.750		11/15/32	359,443
	175,000		7.125		05/31/34	179,960

						2,644,678

Iron/Steel^(c)– 0.3%
Carpenter Technology Corp.^(e)
	180,000		5.625		03/01/34	179,991
Mineral Resources Ltd.^(e)
	555,000		6.000		05/01/32	549,655
Vale Overseas Ltd.
	200,000		6.400		06/28/54	203,800

						933,446

Leisure Time^(c)– 0.6%
Acushnet Co.^(e)
	165,000		5.625		12/01/33	164,404
Carnival Corp. Ltd.^(e)
	316,000		5.875		06/15/31	321,568
Royal Caribbean Cruises Ltd.
	610,000		5.250		02/27/38	590,157
Viking Cruises Ltd.^(e)
	725,000		5.875		10/15/33	725,413

						1,801,542

Lodging^(c)– 1.0%
Choice Hotels International, Inc.
	540,000		3.700		01/15/31	509,630
	262,000		5.850		08/01/34	266,142
Hilton Domestic Operating Co., Inc.^(e)
	520,000		5.500		09/15/31	521,076

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Lodging^(c)– (continued)
$	350,000		5.500	%	03/31/34	$ 346,413
Hyatt Hotels Corp.
	630,000		5.500		06/30/34	637,573
Las Vegas Sands Corp.
	230,000		5.625		06/15/28	232,757
	90,000		6.000		06/14/30	92,457
Marriott International, Inc.
	325,000		4.500		05/01/33	314,278
Sands China Ltd.
	200,000		5.400		08/08/28	201,491
Travel & Leisure Co.^(e)
	94,000		6.125		09/01/33	92,935

						3,214,752

Machinery - Construction & Mining^(c)– 0.2%
Vertiv Holdings Co.
	666,000		4.850		03/15/36	647,192

Machinery-Diversified^(c)– 0.1%
Esab Corp.^(e)
	300,000		5.625		04/01/31	299,877
Ingersoll Rand, Inc.
	177,000		5.314		06/15/31	180,558

						480,435

Media^(c)(e)– 0.4%
Space Exploration Technologies Corp.
	725,000		5.350		07/15/31	724,210
	725,000		5.875		07/15/36	715,401

						1,439,611

Metal Fabricate & Hardware^(c)(e)– 0.1%
Advanced Drainage Systems, Inc.
	360,000		5.375		03/01/34	352,516

Mining^(c)(e)– 0.2%
Alumina Pty. Ltd.
	285,000		6.125		03/15/30	289,212
	240,000		6.375		09/15/32	244,274
Glencore Funding LLC
	250,000		2.625		09/23/31	223,433

						756,919

Oil Field Services – 1.2%
Chord Energy Corp.^(c)(e)
	440,000		6.000		10/01/30	441,989
	70,000		6.750		03/15/33	71,164
CNX Resources Corp.^(c)(e)
	300,000		5.875		03/01/34	291,672
DBR Land Holdings LLC^(c)(e)
	350,000		6.250		12/01/30	355,505
Ecopetrol SA^(c)
	90,000		8.625		01/19/29	95,638
EQT Corp.^(c)(e)
	610,000		3.625		05/15/31	570,576


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Oil Field Services – (continued)
Occidental Petroleum Corp.
$	278,000		7.875	%	09/15/31	$ 313,395
Petroleos Mexicanos^(c)
	550,000		6.840		01/23/30	564,850
	280,000		5.950		01/28/31	276,948
	60,000		6.700		02/16/32	60,451
Sunoco LP^(c)(e)
	465,000		5.875		03/15/34	457,718
WBI Operating LLC^(c)(e)
	355,000		6.250		10/15/30	357,013

						3,856,919

Packaging^(c)– 0.1%
Crown Americas LLC
	370,000		5.875		06/01/33	372,379
Pharmaceuticals^(c)– 0.5%
Amneal Pharmaceuticals LLC^(e)
	234,000		6.875		08/01/32	242,974
CVS Health Corp.
	1,388,000		4.780		03/25/38	1,301,167

						1,544,141

Pipelines – 0.6%
Cheniere Energy Partners LP^(c)
	230,000		5.950		06/30/33	240,168
DCP Midstream Operating LP^(c)
	455,000		3.250		02/15/32	415,256
Energy Transfer LP^(c)
	75,000		5.400		10/01/47	67,987
Galaxy Pipeline Assets Bidco Ltd.^(e)
	200,000		2.625		03/31/36	174,714
Kinder Morgan, Inc.
	500		7.750		01/15/32	568
Targa Resources Corp.^(c)
	235,000		4.200		02/01/33	222,738
Venture Global Plaquemines LNG LLC^(c)(e)
	205,000		6.125		12/15/30	209,697
	210,000		6.500		06/15/34	218,673
Williams Cos., Inc.^(c)
	425,000		5.650		03/15/33	437,567

						1,987,368

Real Estate Investment Trust^(c)– 1.0%
Alexandria Real Estate Equities, Inc.
	350,000		3.375		08/15/31	322,340
American Homes 4 Rent LP
	180,000		2.375		07/15/31	159,102
CubeSmart LP
	90,000		2.500		02/15/32	79,289
Host Hotels & Resorts LP
	224,000		2.900		12/15/31	200,514
Iron Mountain, Inc.^(e)
	485,000		6.250		01/15/35	486,824
Kilroy Realty LP
	397,000		4.750		12/15/28	394,054

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Real Estate Investment Trust^(c)– (continued)
RHP Hotel Properties LP/RHP Finance Corp.^(e)
$	110,000		6.500	%	06/15/33	$ 112,873
	140,000		5.750		03/15/34	138,506
Starwood Property Trust, Inc.^(e)
	255,000		5.250		10/15/28	253,817
	245,000		5.750		01/15/31	243,579
	155,000		6.125		06/01/31	155,956
VICI Properties LP/VICI Note Co., Inc.^(e)
	590,000		3.750		02/15/27	586,436

						3,133,290

Retailing^(c)– 0.6%
1011778 BC ULC/New Red Finance, Inc.^(e)
	185,000		6.125		06/15/29	187,790
AutoNation, Inc.
	450,000		4.750		06/01/30	446,422
FirstCash, Inc.^(e)
	555,000		6.125		05/01/34	551,992
O’Reilly Automotive, Inc.
	240,000		5.100		03/12/36	237,727
QXO Building Products, Inc.^(e)
	100,000		6.500		07/15/31	101,902
	440,000		6.750		04/30/32	454,208

						1,980,041

Semiconductors^(c)– 0.2%
Amkor Technology, Inc.^(e)
	349,000		5.875		10/01/33	350,225
Intel Corp.
	159,000		5.150		02/21/34	159,113

						509,338

Software^(c)– 3.3%
AppLovin Corp.
	226,000		5.500		12/01/34	227,803
Elastic NV^(e)
	380,000		4.125		07/15/29	362,543
Electronic Arts, Inc.
	287,000		2.950		02/15/51	221,484
Fair Isaac Corp.^(e)
	295,000		6.000		05/15/33	290,475
	790,000		6.250		09/15/34	777,913
MSCI, Inc.^(e)
	760,000		3.875		02/15/31	719,606
OAK-Eagle Acquireco, Inc.^(e)
	100,000		7.250		07/01/33	104,699
Oracle Corp.
	2,239,000		2.950		04/01/30	2,061,067
	490,000		2.875		03/25/31	437,815
	580,000		4.800		09/26/32	551,864
	510,000		5.350		05/04/33	495,317
	675,000		5.200		09/26/35	631,739
	465,000		5.700		02/04/36	450,869
	390,000		6.700		02/04/56	367,123


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Software^(c)– (continued)
Salesforce, Inc.
$	1,505,000		4.900	%	09/15/31	$ 1,501,493
	1,525,000		5.550		03/15/36	1,520,684
Workday, Inc.
	150,000		3.800		04/01/32	139,698

						10,862,192

Sovereign^(c)(e)– 0.3%
Eagle Funding Luxco SARL
	1,060,000		5.500		08/17/30	1,061,605

Telecommunication Services^(c)– 1.8%
AT&T, Inc.
	500,000		2.750		06/01/31	454,650
Beacon Point DC LLC^(e)
	825,000		6.129		11/30/42	833,481
Black Pearl Compute LLC^(e)
	865,000		6.125		02/15/31	877,802
Meridian Arc Holdco LLC^(e)
	535,000		6.250		04/30/31	535,968
PR RNO Property Owner 1 LLC^(e)
	360,000		6.500		05/01/31	359,514
QTS Fayetteville I Dc1-2 LLC/QTS TRS Fayetteville I DC1-2 LLC^(e)
	1,600,000		5.700		04/15/36	1,520,912
SV RNO Property Owner 1 LLC^(e)
	380,000		5.875		03/01/31	374,634
T-Mobile USA, Inc.
	520,000		2.875		02/15/31	478,369
	350,000		5.200		01/15/33	354,109

						5,789,439

TOTAL CORPORATE OBLIGATIONS (Cost $ 103,401,290)						$102,366,396



Asset-Backed Securities^(c)– 13.7%
Automotive – 0.2%
Exeter Automobile Receivables Trust Series 2025-1A, Class A3
$	34,906		4.670	%	08/15/28	$ 34,914
Hyundai Auto Lease Securitization Trust Series 2024-B, Class A3^(e)
	244,881		5.410		05/17/27	245,130
Santander Drive Auto Receivables Trust Series 2025-1, Class A3
	365,506		4.740		01/16/29	365,939

						645,983

Collateralized Loan Obligations^(e)– 11.8%
1988 CLO 6 Ltd. Series 2025-6A, Class E^(b)(3 mo. USD Term SOFR + 4.900%)
	900,000		8.573		04/15/38	872,479
Aqueduct European CLO 14 DAC Series 2025-14A, Class B^(b)(3 mo. EUR EURIBOR + 1.850%)
EUR	400,000		4.015		01/25/39	458,217
ARES XLI CLO Ltd. Series 2016-41A, Class A1R3^(b)(3 mo. USD Term SOFR + 1.260%)
$	1,900,000		4.875		04/15/39	1,901,275

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Asset-Backed Securities^(c)– (continued)
Collateralized Loan Obligations^(e)– (continued)
Arini European CLO IX DAC Series 9A, Class B^(b)(3 mo. EUR EURIBOR + 2.000%)
EUR	300,000		4.102	%	04/15/40	$ 344,271
Arini European CLO VII DAC Series 7A, Class B^(b)(3 mo. EUR EURIBOR + 1.800%)
	600,000		3.895		01/15/39	687,044
Arini European CLO VII DAC Series 7A, Class D^(b)(3 mo. EUR EURIBOR + 2.850%)
	600,000		4.945		01/15/39	686,475
Arini European CLO X DAC Series 10A, Class B^(b)(-1X 3 mo. EUR EURIBOR + 1.850%)
	2,300,000		0.000		07/15/40	2,627,980
Armada Euro CLO IX DAC Series 9A, Class B^(b)(3 mo. EUR EURIBOR + 1.850%)
	600,000		4.000		10/30/39	688,438
Aurium CLO VIII DAC Series 8A, Class CR^(b)(3 mo. EUR EURIBOR + 2.150%)
	600,000		4.393		10/16/38	687,479
Bain Capital Credit CLO Ltd. Series 2019-3A, Class DRR^(b)(3 mo. USD Term SOFR + 2.800%)
$	575,000		6.472		10/21/34	571,545
Barings CLO Ltd. Series 2024-1A, Class A1R^(b)(3 mo. USD Term SOFR + 1.170%)
	1,525,000		4.845		01/20/39	1,521,942
Birch Grove CLO 8 Ltd. Series 2024-8A, Class A1R^(b)(3 mo. USD Term SOFR + 1.290%)
	1,650,000		4.965		04/20/39	1,650,932
BlueMountain CLO XXVI Ltd. Series 2019-26AR, Class CR2^(b)(3 mo. USD Term SOFR + 1.850%)
	610,000		5.488		10/20/34	609,998
Bridgepoint CLO IX DAC Series 9A, Class B^(b)(3 mo. EUR EURIBOR + 1.800%)
EUR	600,000		3.914		10/15/39	686,916
Carlyle U.S. CLO Ltd. Series 2021-8A, Class A1R^(b)(3 mo. USD Term SOFR + 1.270%)
$	1,325,000		4.943		10/15/38	1,329,284
CIFC Funding Ltd. Series 2022-4A, Class DR^(b)(3 mo. USD Term SOFR + 2.700%)
	500,000		6.380		07/16/35	495,008
CVC Cordatus Loan Fund XXXIV DAC Series 34A, Class B^(b)(3 mo. EUR EURIBOR + 1.700%)
EUR	800,000		3.938		04/20/38	911,019
Elmwood CLO 27 Ltd. Series 2024-3A, Class A1R^(b)(3 mo. USD Term SOFR + 1.240%)
$	1,750,000		4.886		04/18/39	1,752,275
Elmwood CLO 35 Ltd. Series 2024-11A, Class A^(b)(3 mo. USD Term SOFR + 1.340%)
	2,175,000		5.015		10/18/37	2,177,312
Elmwood CLO X Ltd. Series 2021-3A, Class AR2^(b)(3 mo. USD Term SOFR + 1.300%)
	1,450,000		4.975		07/20/38	1,453,901
Harvest CLO XXXVII DAC Series 37A, Class B^(b)(3 mo. EUR EURIBOR + 1.850%)
EUR	600,000		3.956		01/15/39	687,244


Principal Amount		Interest Rate			Maturity Date	Value

Asset-Backed Securities^(c)– (continued)
Collateralized Loan Obligations^(e)– (continued)
Henley CLO XVII DAC Series 17A, Class B^(b)(3 mo. EUR EURIBOR + 1.850%)
EUR	600,000		4.143	%	07/25/39	$ 686,581
Henley CLO XVII DAC Series 17A, Class A^(b)(3 mo. EUR EURIBOR + 1.280%)
	2,000,000		3.573		07/15/38	2,285,881
KKR CLO 50 Ltd. Series 2024-50A, Class A1R^(b)(3 mo. USD Term SOFR + 1.270%)
$	650,000		4.923		04/20/39	650,486
KKR CLO 57 Ltd. Series 2025-57A, Class A^(b)(3 mo. USD Term SOFR + 1.400%)
	2,000,000		5.073		07/15/38	2,004,494
Oaktree CLO Ltd. Series 2023-2A, Class A1R^(b)(3 mo. USD Term SOFR + 1.350%)
	1,450,000		5.025		07/20/38	1,451,992
Octagon 67 Ltd. Series 2023-1A, Class AR^(b)(3 mo. USD Term SOFR + 1.450%)
	1,700,000		5.117		07/25/38	1,705,233
Palmer Square CLO Ltd. Series 2024-3A, Class A^(b)(3 mo. USD Term SOFR + 1.350%)
	1,775,000		5.025		07/20/37	1,777,902
Post CLO Ltd. Series 2024-1A, Class CR^(b)(3 mo. USD Term SOFR + 1.850%)
	750,000		5.455		03/30/39	753,045
Sunnova Hestia I Issuer LLC Series 2023-GRID1, Class 1A
	84,789		5.750		12/20/50	82,704
Trimaran CAVU Ltd. Series 2021-2A, Class D1R^(b)(3 mo. USD Term SOFR + 2.500%)
	575,000		6.167		10/25/34	564,928
Trimaran CAVU Ltd. Series 2026-1A, Class D1^(b)(3 mo. USD Term SOFR + 2.900%)
	500,000		6.640		07/22/39	499,953
Vibrant CLO XVI Ltd. Series 2023-16A, Class A1A2^(b)(3 mo. USD Term SOFR + 1.250%)
	2,075,000		4.923		07/15/36	2,075,701
Wind River CLO Ltd. Series 2021-2A, Class A2R^(b)(3 mo. USD Term SOFR + 1.400%)
	450,000		5.075		07/20/34	448,753
Wind River CLO Ltd. Series 2021-2A, Class BR^(b)(3 mo. USD Term SOFR + 1.600%)
	425,000		5.275		07/20/34	425,052

						38,213,739

Credit Card – 0.5%
American Express Credit Account Master Trust Series 2025-3, Class A
	1,050,000		4.510		04/15/32	1,052,230
Barclays Dryrock Issuance Trust Series 2025-1, Class A
	775,000		3.970		07/15/31	768,025

						1,820,255

Home Equity^(b)– 0.3%
Citigroup Mortgage Loan Trust, Inc. Series 2005-HE4, Class M2 (1 mo. USD Term SOFR + 0.789%)
	41,739		4.438		10/25/35	41,540

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Asset-Backed Securities^(c)– (continued)
Home Equity^(b)– (continued)
Credit Suisse First Boston Mortgage Securities Corp. Series 2001- HE17, Class A1 (1 mo. USD Term SOFR + 0.734%)
$	235		4.049	%	01/25/32	$ 229
Home Equity Asset Trust Series 2002-1, Class A4 (1 mo. USD Term SOFR + 0.714%)
	257		4.363		11/25/32	241
Home Equity Loan Trust Series 2007-FRE1, Class 2AV3 (1 mo. USD Term SOFR + 0.344%)
	236,857		3.993		04/25/37	232,264
JP Morgan Mortgage Trust Series 2023-HE3, Class A1^(e)(1 mo. USD Term SOFR + 1.600%)
	114,353		5.209		05/20/54	114,588
Morgan Stanley Mortgage Loan Trust Series 2007-7AX, Class 1A (1 mo. USD Term SOFR + 0.554%)
	2,285,459		4.203		04/25/37	498,905

						887,767

Student Loan^(b)– 0.9%
AccessLex Institute Series 2004-1, Class A2 (3 mo. USD Term SOFR + 0.472%)
	146,880		4.108		09/26/33	145,371
Katayma CLO II Ltd. Series 2024-2A, Class B^(e)(3 mo. USD Term SOFR + 2.150%)
	600,000		5.825		04/20/37	600,512
Navient Student Loan Trust Series 2017-2A, Class A^(e)(1 mo. USD Term SOFR + 1.164%)
	1,768,631		4.792		12/27/66	1,781,053
PHEAA Student Loan Trust Series 2016-1A, Class A^(e)(1 mo. USD Term SOFR + 1.264%)
	325,918		4.892		09/25/65	324,577

						2,851,513

TOTAL ASSET-BACKED SECURITIES (Cost $ 45,107,440)						$ 44,419,257



Sovereign Debt Obligations – 2.0%
Euro – 0.4%
Indonesia Government International Bonds^(c)
EUR	320,000		4.100	%	03/04/34	$ 360,147
Ivory Coast Government International Bonds
	120,000		4.875		01/30/32	135,502
	130,000		6.625		03/22/48	143,246
Morocco Government International Bonds^(e)
	370,000		4.750		05/26/34	430,465
Romania Government International Bonds
	10,000		2.875		03/11/29	11,154
	190,000		3.624	^(e)	05/26/30	213,091
	60,000		4.625	^(e)	03/04/33	66,467
	26,000		3.375		01/28/50	19,442

						1,379,514


Principal Amount		Interest Rate			Maturity Date	Value

Sovereign Debt Obligations – (continued)
United States Dollar – 1.6%
Colombia Government International Bonds^(c)
$	240,000		5.375	%	01/21/29	$ 239,544
Ecuador Government International Bonds^(e)
	37,415		0.000	⁽ⁱ⁾	07/31/30	32,251
	200,000		8.750		01/29/34	202,180
Egypt Government International Bonds
	350,000		9.450		02/04/33	388,106
Guatemala Government Bonds^(c)
	480,000		6.250		08/15/36	500,971
Hungary Government International Bonds
	400,000		6.125		05/22/28	409,500
Ivory Coast Government International Bonds
	200,000		6.125		06/15/33	198,400
	200,000		6.750	^(e)	02/25/41	193,874
Mexico Government International Bonds^(c)
	200,000		6.750		02/09/56	196,400
	624,000		3.771		05/24/61	374,150
Nigeria Government International Bonds
	340,000		7.875		02/16/32	353,845
Panama Government International Bonds^(c)
	200,000		4.500		01/19/63	153,900
Peru Government International Bonds^(c)
	20,000		2.780		12/01/60	10,948
	100,000		3.230	^(j)	07/28/21	55,501
Republic of Poland Government International Bonds^(c)
	350,000		5.500		03/18/54	333,050
Republic of South Africa Government International Bonds
	280,000		6.125	^(e)	12/11/37	274,995
	380,000		6.250		03/08/41	363,850
Romania Government International Bonds
	70,000		6.375		01/30/34	70,980
Serbia International Bonds^(e)
	440,000		5.500		05/06/36	431,543
State of Israel
	200,000		3.800		05/13/60	135,232
Turkiye Government International Bonds
	360,000		6.800		11/04/36	355,838

						5,275,058

TOTAL SOVEREIGN DEBT OBLIGATIONS (Cost $7,090,744)						$ 6,654,572



Municipal Debt Obligations – 0.9%
California^(c)– 0.2%
California Public Finance Authority RB (Taxable) Series 2026 B (Children’s Hospital Los Angeles Obligated Group)
$	375,000		5.403	%	11/15/36	$ 375,363
California State GO Bonds Build America Taxable Series 2009
	210,000		7.550		04/01/39	249,252

						624,615

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Municipal Debt Obligations – (continued)
Illinois – 0.3%
Illinois State GO Bonds Build America Series 2010
$	601,044		7.350	%	07/01/35	$ 640,505
Illinois State GO Bonds Taxable-Pension Series 2003
	422,614		5.100		06/01/33	426,942

						1,067,447

Maryland – 0.2%
Maryland Economic Development Corp. RB Taxable Series 2024
	145,000		5.018		11/30/33	146,927
Maryland Economic Development Corp. RB Taxable Series 2024 (Prince George’s County Public Schools Alternative Construction Financing, Package 2 Project)
	360,000		4.968		11/30/32	364,617

						511,544

New York – 0.1%
Metropolitan Transportation Authority RB Taxable Series 2020 C2
	60,000		5.175		11/15/49	55,497
Port Authority of New York & New Jersey Consolidated Bonds - 192 Series 2015
	375,000		4.810		10/15/65	339,622

						395,119

Ohio – 0.1%
American Municipal Power-Ohio, Inc. RB Build America Taxable Series 2010
	225,000		6.270		02/15/50	231,114

TOTAL MUNICIPAL DEBT OBLIGATIONS (Cost $2,842,715)						$ 2,829,839



Bank Loans^(k)– 0.4%
Machinery-Diversified – 0.2%
Chart Industries, Inc.
(3 mo. USD Term SOFR + 2.500%)
$	581,882		6.182	%	03/15/30	$ 580,794

Retail – 0.2%
IRB Holding Corp.
(1 mo. USD Term SOFR + 2.500%)
	575,491		6.144		12/16/30	575,433

TOTAL BANK LOANS (Cost $1,162,533)						$ 1,156,227



U.S. Treasury Obligations – 0.7%
U.S. Treasury Inflation-Indexed Bonds
$	2,852,665		1.500	%	02/15/53	$ 2,168,360
(Cost $2,289,829)


Shares		Description	Value

Exchange Traded Funds^(l)– 1.3%
	82,052	Goldman Sachs Corporate Bond ETF	$ 4,151,528
(Cost $4,152,464)


Shares		Dividend Rate	Value

Investment Company^(l)– 0.0%
Goldman Sachs Central Government Fund — Institutional Shares
	3,789	3.703%	$ 3,789
(Cost $3,789)

TOTAL INVESTMENTS – 114.5% (Cost $376,196,186)			$371,326,637

LIABILITIES IN EXCESS OF OTHER ASSETS – ( 14.5)%			(46,918,625)

NET ASSETS – 100.0%			$324,408,012



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

(a)		Interest Only Inverse Floaters.

(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 June 30, 2026.

(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 June 30, 2026.

(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 $51,533,724 which represents approximately 15.8% of net assets as of June 30, 2026.

(h)		Significant unobservable inputs were used in the valuation of this portfolio security; i.e., Level 3.

(i)		Issued with a zero coupon. Income is recognized through the accretion of discount.

(j)		Actual maturity date is July 28, 2121.

(k)		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 June 30, 2026. 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.

(l)		Represents an affiliated issuer.

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS — At June 30, 2026, 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	1,367,850		USD	944,149		07/17/26	$	2,577
	AUD	445,532		USD	307,087		07/27/26		1,214
	CAD	2,170,280		EUR	1,338,345		07/10/26		1,109
	CHF	1,710,636		USD	2,121,448		08/07/26		4,718
	CHF	1,157,360		USD	1,442,253		09/16/26		2,440
	CNH	1,933,255		USD	286,015		09/16/26		236
	COP	1,153,636,000		USD	314,000		07/02/26		23,334
	COP	2,185,714,557		USD	605,265		07/09/26		32,783
	COP	1,126,174,000		USD	313,000		07/10/26		15,671
	COP	1,123,954,000		USD	311,000		07/14/26		16,707
	COP	757,280,097		USD	209,773		07/24/26		10,494
	COP	198,573,200		USD	54,285		09/16/26		2,753
	EUR	543,503		CAD	879,104		07/10/26		1,135
	EUR	1,715,094		SEK	18,912,398		07/10/26		8,934
	EUR	432,106		USD	493,065		07/09/26		842
	EUR	2,169,070		USD	2,469,359		07/10/26		10,046
	EUR	1,349,000		USD	1,538,244		07/13/26		3,966
	EUR	1,651,479		USD	1,876,740		07/31/26		12,690
	EUR	1,237,265		USD	1,410,708		09/16/26		7,581
	GBP	1,148,865		USD	1,514,304		07/10/26		9,593
	GBP	129,531		USD	171,000		09/16/26		815
	ILS	1,321,323		USD	441,201		07/10/26		2,933
	INR	3,557,737		USD	37,422		07/02/26		161
	INR	30,016,350		USD	315,000		07/03/26		2,079
	INR	74,626,260		USD	782,000		07/09/26		6,118
	INR	34,220,104		USD	357,176		07/10/26		4,189
	INR	55,862,547		USD	589,050		07/13/26		716
	INR	74,703,370		USD	787,633		07/22/26		471
	INR	74,049,300		USD	780,000		07/24/26		1,077
	INR	88,170,781		USD	916,482		09/16/26		9,379
	NZD	2,664,824		AUD	2,185,000		07/17/26		2,162
	NZD	662,645		USD	373,663		07/13/26		2,877
	NZD	2,944,092		USD	1,662,649		07/17/26		10,523
	NZD	1,586,191		USD	898,587		08/04/26		3,387
	NZD	820,245		USD	467,000		09/16/26		75
	SEK	14,580,000		EUR	1,312,836		07/10/26		3,822
	TRY	55,535,710		USD	1,095,790		09/16/26		24,207

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

June 30, 2026 (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	860,645	AUD	1,199,003		07/01/26	$	30,528
	USD	2,999,638	AUD	4,204,671		07/14/26		89,290
	USD	3,350	AUD	3,883		07/17/26		663
	USD	6,265,693	AUD	9,004,823		07/27/26		34,486
	USD	865,296	AUD	1,228,416		08/04/26		15,362
	USD	6,193,745	AUD	8,697,083		09/16/26		180,676
	USD	1,267,081	AUD	1,794,394		09/17/26		26,478
	USD	1,762,499	CAD	2,463,391		07/02/26		25,426
	USD	1,721,289	CAD	2,436,913		07/10/26		2,267
	USD	572,076	CAD	784,607		08/20/26		17,586
	USD	5,150,815	CAD	7,200,305		09/16/26		56,318
	USD	2,108,421	CHF	1,667,784		07/02/26		43,880
	USD	5,124,906	CHF	4,007,730		09/16/26		122,193
	USD	720,361	CLP	657,739,836		09/16/26		6,206
	USD	15,313,510	CNH	103,106,239		09/16/26		46,908
	USD	2,396,925	CZK	50,294,304		09/16/26		27,594
	USD	510,541	EUR	436,808		07/03/26		11,384
	USD	3,050,886	EUR	2,642,683		07/09/26		30,238
	USD	3,587,297	EUR	3,099,770		07/10/26		44,032
	USD	3,857,555	EUR	3,309,501		07/13/26		74,051
	USD	2,064,010	EUR	1,782,550		07/14/26		26,066
	USD	3,730,189	EUR	3,251,570		07/23/26		11,270
	USD	3,666,049	EUR	3,182,107		07/28/26		25,773
	USD	16,591,973	EUR	14,256,552		08/19/26		268,178
	USD	18,796,124	EUR	16,125,030		09/16/26		311,827
	USD	273,140	EUR	234,450		09/17/26		4,376
	USD	2,369,210	GBP	1,766,002		07/10/26		26,719
	USD	705,330	GBP	528,729		07/15/26		4,008
	USD	225,990	GBP	167,351		07/20/26		4,012
	USD	3,901,128	GBP	2,910,719		09/16/26		40,215
	USD	58,877	HUF	17,869,190		08/06/26		1,582
	USD	5,365,615	HUF	1,659,096,368		09/16/26		52,374
	USD	332,029	ILS	985,131		07/01/26		978
	USD	295,273	ILS	876,460		07/10/26		670
	USD	509,037	ILS	1,493,608		09/16/26		6,138
	USD	317,465	INR	30,031,430		07/02/26		220
	USD	317,683	INR	30,015,859		07/03/26		610
	USD	782,000	INR	73,867,720		07/22/26		2,712
	USD	1,090,925	INR	103,888,788		09/16/26		13
	USD	5,129,034	JPY	805,774,743		07/01/26		172,931
	USD	147,992	JPY	23,693,541		07/06/26		2,203
	USD	3,384,642	JPY	546,474,657		07/09/26		21,278
	USD	4,220,056	JPY	682,347,587		07/10/26		20,082
	USD	42,386	JPY	6,736,818		08/04/26		835
	USD	1,191,172	JPY	185,882,915		08/05/26		44,606
	USD	4,598,817	JPY	732,360,134		09/16/26		66,332
	USD	643,135	JPY	102,347,878		09/17/26		9,664
	USD	583,712	KRW	885,616,314		07/01/26		11,957
	USD	570,999	KRW	872,094,495		07/02/26		7,843
	USD	2,097,200	KRW	3,126,191,667		07/07/26		76,129
	USD	3,670,499	KRW	5,578,057,953		09/16/26		60,408
	USD	620,109	MXN	10,816,741		07/17/26		2,474
	USD	1,549,322	MXN	27,024,351		09/17/26		13,952
	USD	2,235,964	NOK	20,929,801		07/20/26		122,135
	USD	1,758,099	NOK	16,878,532		09/16/26		54,788

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

June 30, 2026 (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	1,817,139		NZD	3,060,187		07/03/26	$	78,879
	USD	616,660		NZD	1,049,297		07/08/26		20,510
	USD	6,174,460		NZD	10,456,324		07/13/26		232,775
	USD	6,359,761		NZD	10,957,975		07/17/26		132,178
	USD	5,636,341		NZD	9,834,370		08/04/26		44,111
	USD	2,478,809		NZD	4,352,607		08/24/26		2,078
	USD	1,334,929		NZD	2,270,171		09/16/26		42,218
	USD	2,681,663		NZD	4,589,230		09/17/26		68,319
	USD	3,908,610		PLN	14,250,718		09/16/26		120,527
	USD	5,847,360		SEK	53,968,158		08/26/26		263,766
	USD	3,059,339		SEK	28,589,796		09/16/26		98,054
	USD	210,581		SEK	1,986,071		09/17/26		4,855
	USD	4,235,011		SGD	5,408,333		09/16/26		31,722
	USD	1,680,972		TWD	53,259,908		09/16/26		13,494
	USD	408,408		ZAR	6,666,164		09/16/26		4,000
	ZAR	15,567,642		USD	939,028		09/16/26		5,393

TOTAL								$	3,767,617

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS WITH UNREALIZED LOSS


Counterparty	Currency Purchased		Currency Sold		Settlement Date		Unrealized Loss

JPMorgan Securities, Inc.	AUD	6,540,079	NZD	7,984,610		07/17/26	$	(11,207	)
	AUD	1,644,348	USD	1,174,886		07/01/26		(36,441	)
	AUD	3,108,565	USD	2,175,632		07/10/26		(23,801	)
	AUD	4,409,633	USD	3,151,212		07/14/26		(98,997	)
	AUD	1,653,979	USD	1,149,917		07/17/26		(5,153	)
	AUD	5,102,181	USD	3,627,132		07/27/26		(96,496	)
	AUD	4,377,472	USD	3,071,724		08/04/26		(42,977	)
	AUD	8,154,721	USD	5,716,966		09/16/26		(78,878	)
	BRL	1,844,733	USD	351,350		09/16/26		(575	)
	CAD	3,256,545	EUR	2,016,493		07/10/26		(7,802	)
	CAD	857,162	EUR	537,000		08/05/26		(9,131	)
	CAD	2,462,070	USD	1,772,128		07/02/26		(35,987	)
	CAD	2,164,811	USD	1,527,815		07/10/26		(738	)
	CAD	863,151	USD	629,344		08/20/26		(19,347	)
	CAD	2,878,382	USD	2,060,834		09/16/26		(24,266	)
	CHF	1,710,636	USD	2,162,594		07/02/26		(45,008	)
	CHF	2,735,199	USD	3,454,878		09/16/26		(40,623	)
	CLP	711,364,633	USD	795,559		09/16/26		(23,180	)
	CNH	66,345,078	USD	9,849,339		09/16/26		(25,842	)
	CNH	36,794,108	USD	5,472,469		09/17/26		(24,042	)
	CZK	50,246,036	USD	2,412,327		09/16/26		(45,269	)
	EUR	2,857,000	CAD	4,637,682		07/10/26		(5,704	)
	EUR	289,379	SEK	3,209,901		07/10/26		(443	)
	EUR	869,017	USD	1,008,929		07/03/26		(15,870	)
	EUR	2,111,523	USD	2,453,590		07/09/26		(40,071	)
	EUR	4,781,576	USD	5,521,724		07/10/26		(56,032	)
	EUR	1,899,267	USD	2,241,705		07/13/26		(70,416	)
	EUR	1,064,453	USD	1,244,771		07/14/26		(27,809	)
	EUR	1,914,597	USD	2,218,061		07/23/26		(28,279	)
	EUR	1,648,250	USD	1,911,509		07/24/26		(26,272	)
	EUR	3,037,655	USD	3,540,084		07/28/26		(65,058	)

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

June 30, 2026 (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)	EUR	7,887,362	USD	9,183,392		08/19/26	$	(152,338	)
	EUR	1,865,382	USD	2,141,459		08/24/26		(5,139	)
	EUR	12,786,040	USD	14,798,283		09/16/26		(141,505	)
	EUR	226,643	USD	262,633		09/17/26		(2,818	)
	GBP	1,597,632	USD	2,147,217		07/10/26		(28,058	)
	GBP	524,859	USD	699,619		07/15/26		(3,429	)
	GBP	1,115,670	USD	1,496,783		07/20/26		(16,926	)
	GBP	1,557,256	USD	2,089,059		08/17/26		(23,480	)
	GBP	469,409	USD	630,357		09/16/26		(7,711	)
	GBP	727,747	USD	977,898		09/17/26		(12,580	)
	HUF	2,425,972,766	USD	7,886,929		09/16/26		(117,774	)
	ILS	729,638	USD	251,599		07/01/26		(6,406	)
	ILS	763,657	USD	260,113		07/10/26		(3,426	)
	ILS	1,421,845	USD	484,132		09/16/26		(5,396	)
	INR	56,484,243	USD	597,517		07/02/26		(830	)
	INR	3,539,517	USD	37,411		07/13/26		(43	)
	INR	103,354,235	USD	1,090,925		07/17/26		(120	)
	INR	74,181,420	USD	783,000		07/20/26		(276	)
	INR	38,712,361	USD	407,726		09/16/26		(1,217	)
	JPY	176,743,275	USD	1,110,894		07/01/26		(23,794	)
	JPY	22,221,020	USD	139,535		07/06/26		(2,807	)
	JPY	546,474,657	USD	3,383,345		07/09/26		(19,980	)
	JPY	472,877,123	USD	2,922,778		07/10/26		(12,133	)
	JPY	16,759,487	USD	104,832		07/24/26		(1,551	)
	JPY	232,819,345	USD	1,461,667		08/05/26		(25,588	)
	JPY	1,345,007,135	USD	8,470,314		09/16/26		(146,236	)
	KRW	885,616,314	USD	581,676		07/01/26		(9,920	)
	KRW	872,094,495	USD	570,827		07/02/26		(7,672	)
	KRW	554,155,728	USD	361,501		07/06/26		(3,324	)
	KRW	3,126,241,571	USD	2,047,707		07/07/26		(26,604	)
	KRW	328,592,074	USD	213,267		07/08/26		(831	)
	KRW	945,875,000	USD	625,000		07/20/26		(13,406	)
	KRW	4,908,619,068	USD	3,214,113		09/16/26		(37,280	)
	MXN	11,115,233	USD	641,164		07/17/26		(6,485	)
	MXN	13,611,900	USD	785,000		09/15/26		(11,524	)
	MXN	27,796,269	USD	1,585,293		09/17/26		(6,067	)
	NOK	20,882,650	USD	2,235,492		07/20/26		(126,425	)
	NOK	18,035,108	USD	1,909,002		09/16/26		(88,974	)
	NZD	4,648,218	USD	2,739,708		07/03/26		(99,407	)
	NZD	1,012,866	USD	592,725		07/08/26		(17,273	)
	NZD	9,966,869	USD	5,909,326		07/13/26		(245,769	)
	NZD	16,061,106	USD	9,306,695		07/17/26		(178,924	)
	NZD	3,789,170	USD	2,251,022		08/04/26		(96,344	)
	NZD	3,742,650	USD	2,130,317		08/06/26		(1,948	)
	NZD	5,611,694	USD	3,253,099		08/24/26		(59,918	)
	NZD	5,709,496	USD	3,355,707		09/16/26		(104,532	)
	PLN	5,812,715	USD	1,564,644		09/16/26		(19,526	)
	PLN	1,762,927	USD	479,648		09/17/26		(11,032	)
	SEK	53,923,510	USD	5,842,523		08/26/26		(263,548	)
	SEK	37,666,462	USD	4,028,582		09/16/26		(127,150	)
	SGD	5,526,285	USD	4,328,664		09/16/26		(33,705	)
	TWD	24,743,280	USD	786,000		07/02/26		(9,303	)
	TWD	88,520,869	USD	2,793,549		09/16/26		(22,110	)
	USD	895,609	AUD	1,300,435		08/04/26		(4,154	)
	USD	407,068	BRL	2,156,355		09/16/26		(2,961	)

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

June 30, 2026 (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	2,150,034		CHF	1,733,687		08/07/26	$	(4,782	)
	USD	2,319,478		CNH	15,672,308		09/16/26		(1,068	)
	USD	113,041		COP	404,844,500		07/03/26		(5,311	)
	USD	288,399		COP	991,431,508		07/10/26		(948	)
	USD	80,682		COP	294,488,862		07/24/26		(4,975	)
	USD	705,587		COP	2,576,699,456		09/16/26		(34,540	)
	USD	493,065		EUR	432,211		07/03/26		(839	)
	USD	689,756		EUR	607,373		07/10/26		(4,516	)
	USD	3,805,539		EUR	3,349,062		07/28/26		(25,730	)
	USD	1,390,580		EUR	1,219,379		07/31/26		(4,492	)
	USD	214,246		EUR	187,355		08/07/26		(167	)
	USD	2,954,983		EUR	2,583,962		08/19/26		(3,662	)
	USD	1,277,848		EUR	1,120,858		09/16/26		(7,004	)
	USD	1,943,287		GBP	1,473,080		08/17/26		(10,639	)
	USD	904,132		GBP	684,651		09/16/26		(4,022	)
	USD	933,000		HUF	292,712,018		09/16/26		(4,407	)
	USD	85,382		ILS	255,338		07/10/26		(444	)
	USD	314,000		INR	30,010,550		07/02/26		(3,025	)
	USD	787,633		INR	74,619,093		07/09/26		(409	)
	USD	621,000		INR	59,350,523		07/13/26		(5,590	)
	USD	589,050		INR	55,899,657		07/20/26		(774	)
	USD	1,654,709		INR	160,155,085		09/16/26		(27,042	)
	USD	211,566		KRW	328,574,272		07/08/26		(858	)
	USD	898,587		NZD	1,587,887		07/03/26		(3,371	)
	USD	311,000		NZD	550,273		07/17/26		(1,729	)
	USD	623,000		SGD	808,473		07/10/26		(2,348	)
	USD	556,390		TRY	27,990,311		09/16/26		(8,094	)
	USD	775,214		TWD	24,743,280		07/02/26		(1,483	)
	USD	778,000		ZAR	12,913,400		09/16/26		(5,400	)
	ZAR	5,134,389		USD	313,000		09/16/26		(1,519	)

TOTAL								$	(3,608,579	)

FORWARD SALES CONTRACTS — At June 30, 2026, 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		07/20/56	$	(2,000,000)	$	(1,774,450)
Government National Mortgage Association		4.500			TBA - 30yr		07/20/56		(3,000,000)		(2,880,209)
Uniform Mortgage-Backed Security		2.000			TBA - 30yr		07/13/26		(4,000,000)		(3,192,188)
Uniform Mortgage-Backed Security		3.000			TBA - 30yr		07/13/26		(12,000,000)		(10,465,313)
Uniform Mortgage-Backed Security		4.000			TBA - 30yr		07/13/26		(5,000,000)		(4,671,289)
Uniform Mortgage-Backed Security		4.500			TBA - 30yr		07/13/26		(5,000,000)		(4,791,992)
Uniform Mortgage-Backed Security		5.000			TBA - 30yr		07/13/26		(14,000,000)		(13,755,547)

(PROCEEDS RECEIVED: $ (41,451,680))										$	(41,530,988)

(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)

June 30, 2026 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

FUTURES CONTRACTS — At June 30, 2026, 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	64	09/28/26	$	7,573,286		$	76,275
10 Year U.S. Treasury Notes	102	09/21/26		11,208,844			19,598
2 Year U.S. Treasury Notes	127	09/30/26		26,178,867			(28,886	)
20 Year U.S. Treasury Bonds	236	09/21/26		26,786,000			403,828
30 Year German Euro-Buxl	16	09/08/26		2,033,279			36,537
5 Year U.S. Treasury Notes	433	09/30/26		46,351,297			38,264
Euro-Bobl	72	09/08/26		9,491,989			47,746
Euro-Schatz	118	09/08/26		14,286,246			29,275
ICE 3M SONIA Index	88	03/16/27		28,019,000			(256	)
ICE 3M SONIA Index	86	09/14/27		27,362,242			106,577
Ultra Long U.S. Treasury Bonds	212	09/21/26		24,625,125			526,642

Total						$	1,255,600

Short position contracts:
3 Month SOFR	(100)	03/16/27		(23,990,000	)		(15,830	)
5 Year German Euro-Bund	(33)	09/08/26		(4,801,456	)		(40,947	)
Ultra 10-Year U.S. Treasury Notes	(176)	09/21/26		(19,794,500	)		(102,000	)

Total						$	(158,777	)

TOTAL FUTURES CONTRACTS						$	1,096,823

SWAP CONTRACTS — At June 30, 2026, 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)

1.250%^(a)	12M JYOR^(a)	12/15/27	JPY	5,178,770	^(b)	$	52,162		$	(123,288	)	$	175,450
3.416^(a)	12M SOFR^(a)	04/22/28	$	9,200	^(b)		54,796			12,921			41,875
2.500^(c)	12M EURO^(c)	06/14/28	EUR	1,270	^(b)		(1,841	)		3,622			(5,463	)
3.927^(c)	12M SOFR^(c)	06/30/28	$	7,780	^(b)		12,542			(2,090	)		14,632
12M SOFR^(c)	4.021%^(c)	06/30/28		1,190	^(b)		(76	)		(45	)		(31	)
12M EURO^(a)	2.000^(a)	09/10/28	EUR	103,404	^(b)		(465,839	)		(181,050	)		(284,789	)
2.500^(d)	6M EURO^(d)	09/10/28		103,404	^(b)		230,922			(123,777	)		354,699
Mexico Interbank TIIE 28 Days^(e)	7.250^(e)	09/14/28	MXN	25,470	^(b)		(410	)		(6,466	)		6,056
2.500^(d)	12M CDOR^(d)	09/16/28	CAD	20,920	^(b)		60,240			89,900			(29,660	)
4.750^(d)	12M CLICP^(d)	09/16/28	CLP	8,060	^(b)		(51	)		33			(84	)
3.750^(c)	12M GBP^(c)	09/16/28	GBP	2,140	^(b)		15,237			18,194			(2,957	)
6.000^(d)	12M MIBOR^(d)	09/16/28	INR	130,530	^(b)		(500	)		6,337			(6,837	)
3.000^(c)	12M SOFR^(c)	09/16/28	$	38,680	^(b)		745,387			701,677			43,710
3.250^(c)	12M SOFR^(c)	09/16/28		3,550	^(b)		51,532			45,542			5,990
1.250^(f)	12M THOR^(f)	09/16/28	THB	16,240	^(b)		550			576			(26	)
12M EURO^(c)	2.000^(c)	09/16/28	EUR	90	^(b)		(856	)		(1,261	)		405
3M STIBOR^(c)	2.500^(c)	09/16/28	SEK	62,800	^(b)		22,640			8,555			14,085
12M CDOR^(d)	2.750^(d)	09/16/28	CAD	130	^(b)		69			66			3
12M GBP^(c)	3.500^(c)	09/16/28	GBP	24,020	^(b)		(320,556	)		(358,719	)		38,163
5.000^(f)	3M AUDOR^(f)	09/16/28	AUD	6,100	^(b)		(47,182	)		(43,056	)		(4,126	)
3.500^(f)	3M KWCDC^(f)	09/16/28	KRW	2,840,010	^(b)		11,834			(1,337	)		13,171

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

June 30, 2026 (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)

6M PRIBOR^(c)	4.000%^(c)	09/16/28	CZK	26,010	^(b)	$	(2,940	)	$	(21,300	)	$	18,360
6M NIBOR^(c)	5.000^(c)	09/16/28	NOK	65,170	^(b)		18,121			10,657			7,464
6M BUBOR^(c)	6.250^(c)	09/16/28	HUF	111,060	^(b)		8,252			(6,566	)		14,818
3M JIBAR^(f)	6.750^(f)	09/16/28	ZAR	27,470	^(b)		(18,121	)		(8,921	)		(9,200	)
2.250%^(d)	6M EURO^(d)	09/16/28	EUR	5,450	^(b)		56,419			73,386			(16,967	)
2.500^(d)	6M EURO^(d)	09/16/28		3,380	^(b)		16,411			20,511			(4,100	)
3.750^(d)	6M WIBOR^(d)	09/16/28	PLN	7,820	^(b)		4,150			25,614			(21,464	)
1M BID Average^(c)	13.250^(c)	01/02/29	BRL	14,900			(69,562	)		(35,441	)		(34,121	)
13.250^(c)	1M BID Average^(c)	01/02/29		5,250			24,510			(3,346	)		27,856
1.250^(c)	12M JYOR^(c)	09/16/29	JPY	1,117,000	^(b)		89,635			96,014			(6,379	)
12M JYOR^(c)	1.771^(c)	01/26/30		267,890	^(b)		(7,959	)		(7,918	)		(41	)
3.903^(c)	12M SOFR^(c)	11/30/30	$	15,550	^(b)		6,034			(7,705	)		13,739
3.979^(c)	12M SOFR^(c)	11/30/30		1,480	^(b)		(3,760	)		(328	)		(3,432	)
1M BID Average^(c)	12.750^(c)	01/02/31	BRL	3,890			(26,206	)		(8,329	)		(17,877	)
12.750^(c)	1M BID Average^(c)	01/02/31		1,800			12,126			4,649			7,477
2.500^(c)	12M EURO^(c)	04/16/31	EUR	3,440	^(b)		(6,649	)		28,828			(35,477	)
12M EURO^(c)	2.800^(c)	05/21/31		37,370	^(b)		211,052			44,532			166,520
3.000^(d)	6M EURO^(d)	05/21/31		37,370	^(b)		(177,799	)		(16,898	)		(160,901	)
Mexico Interbank TIIE 28 Days^(e)	7.750^(e)	09/11/31	MXN	13,160	^(b)		(788	)		(6,329	)		5,541
12M THOR^(f)	1.500^(f)	09/16/31	THB	7,840	^(b)		(1,454	)		(5,874	)		4,420
1.500^(c)	12M JYOR^(c)	09/16/31	JPY	8,468,000	^(b)		1,231,689			1,203,387			28,302
6M EURO^(c)	2.500^(c)	09/16/31	EUR	9,480	^(b)		(121,786	)		(161,639	)		39,853
12M GBP^(c)	3.750^(c)	09/16/31	GBP	7,630	^(b)		(152,186	)		(176,490	)		24,304
3M NZDOR^(d)	4.000^(d)	09/16/31	NZD	24,950	^(b)		187,052			84,928			102,124
6M PRIBOR^(c)	4.000^(c)	09/16/31	CZK	9,360	^(b)		(2,685	)		(3,148	)		463
2.500^(d)	6M EURO^(d)	09/16/31	EUR	720	^(b)		9,249			12,127			(2,878	)
3M JIBAR^(f)	7.000^(f)	09/16/31	ZAR	14,190	^(b)		(14,790	)		(12,554	)		(2,236	)
12M SOFR^(c)	3.584^(c)	04/22/32	$	13,430	^(b)		(189,171	)		(160,673	)		(28,498	)
2.000^(c)	12M JYOR^(c)	01/11/33	JPY	716,792	^(b)		79,779			(48,924	)		128,703
3.976^(c)	12M SOFR^(c)	04/30/33	$	10,890	^(b)		(23,719	)		(2,367	)		(21,352	)
2.500^(c)	12M JYOR^(c)	05/22/33	JPY	479,810	^(b)		(1,752	)		(1,761	)		9
12M EURO^(c)	2.800^(c)	08/15/35	EUR	4,210	^(b)		55,407			15,143			40,264
6M EURO^(c)	3.300^(c)	04/21/36		5,110	^(b)		47,439			(5,041	)		52,480
12M EURO^(c)	3.000^(c)	06/19/36		14,740	^(b)		39,987			(11,505	)		51,492
3.200^(d)	6M EURO^(d)	06/19/36		14,740	^(b)		(57,023	)		(5,361	)		(51,662	)
8.000^(e)	Mexico Interbank TIIE 28 Days^(e)	09/04/36	MXN	4,730	^(b)		3,543			7,695			(4,152	)
12M CHFOR^(c)	0.750^(c)	09/16/36	CHF	3,180	^(b)		75,326			27,689			47,637
12M JYOR^(c)	1.750^(c)	09/16/36	JPY	1,031,000	^(b)		(460,942	)		(428,110	)		(32,832	)
4.000^(c)	12M GBP^(c)	09/16/36	GBP	670	^(b)		25,932			33,868			(7,936	)
3.750^(c)	12M SOFR^(c)	09/16/36	$	3,440	^(b)		79,600			81,885			(2,285	)
2.000^(f)	12M THOR^(f)	09/16/36	THB	13,480	^(b)		1,091			1,159			(68	)
6M EURO^(c)	2.750^(c)	09/16/36	EUR	4,900	^(b)		(86,347	)		(149,001	)		62,654
12M CDOR^(d)	3.000^(d)	09/16/36	CAD	1,510	^(b)		(14,426	)		(23,215	)		8,789
12M SOFR^(c)	3.750^(c)	09/16/36	$	490	^(b)		(11,339	)		(10,195	)		(1,144	)
7.750^(f)	3M JIBAR^(f)	09/16/36	ZAR	11,700	^(b)		3,191			14,091			(10,900	)
4.250^(f)	3M NZDOR^(f)	09/16/36	NZD	880	^(b)		(8,521	)		1,323			(9,844	)
3.000^(f)	3M STIBOR^(f)	09/16/36	SEK	22,330	^(b)		(45,222	)		(7,472	)		(37,750	)
6M PRIBOR^(c)	4.250^(c)	09/16/36	CZK	4,950	^(b)		251			(4,959	)		5,210
6M WIBOR^(c)	4.500^(c)	09/16/36	PLN	1,000	^(b)		4,589			(6,087	)		10,676
6M NIBOR^(c)	4.500^(c)	09/16/36	NOK	7,300	^(b)		13,770			8,089			5,681
6M AUDOR^(d)	5.000^(d)	09/16/36	AUD	1,520	^(b)		12,290			(851	)		13,141
12M CLICP^(d)	5.250^(d)	09/16/36	CLP	88,080	^(b)		758			(623	)		1,381

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

June 30, 2026 (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)

2.750%^(d)	6M EURO^(d)		09/16/36	EUR	10,670	^(b)	$	188,024		$	292,591		$	(104,567	)
3.894^(c)	12M SOFR^(c)		04/22/37	$	7,540	^(b)		95,044			25,781			69,263
4.750^(c)	12M GBP^(c)		01/31/39	GBP	3,560	^(b)		(113,610	)		(59,101	)		(54,509	)
12M SOFR^(c)	4.629%^(c)		04/14/41	$	15,730	^(b)		33,403			(6,824	)		40,227
12M JYOR^(c)	2.160^(c)		08/02/44	JPY	1,269,219	^(b)		(493,888	)		(739,159	)		245,271
3.600^(d)	6M EURO^(d)		04/21/46	EUR	3,600	^(b)		(44,411	)		(14,484	)		(29,927	)
12M JYOR^(c)	4.500^(c)		05/21/46	JPY	606,000	^(b)		18,953			23,980			(5,027	)
12M JYOR^(c)	2.500^(c)		09/16/46		213,000	^(b)		(141,578	)		(119,935	)		(21,643	)
3.100^(c)	12M EURO^(c)		08/15/54	EUR	1,828	^(b)		(48,716	)		(22,743	)		(25,973	)
4.048^(c)	12M SOFR^(c)		04/13/56	$	14,620	^(b)		(6,741	)		17,487			(24,228	)

TOTAL							$	719,586		$	(109,429	)	$	829,015

(a)

Payments made at maturity.

(b)

Represents forward starting interest rate swaps whose effective dates of commencement of accruals and cash flows occur subsequent to June 30, 2026.

(c)

Payments made annually.

(d)

Payments made semi-annually.

(e)

Payments made monthly.

(f)

Payments made quarterly.

OVER-THE-COUNTER CREDIT DEFAULT SWAP CONTRACTS


Reference Obligation/Index	Financing Rate Received/(Paid) by the Fund^(a)	Credit Spread at June 30, 2026^(b)	Counterparty	Termination Date	Notional Amount (000s)		Value			Upfront Premiums (Received) Paid			Unrealized Appreciation/ (Depreciation)

Protection Sold:
CMBX.NA.AAA.17	0.500%	0.661%	MS & Co. Int. PLC	12/15/56	$	600	$	(5,311	)	$	(7,418	)	$	2,107

(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 June 30, 2026^(b)		Termination Date		Notional Amount (000s)		Value		Upfront Premiums (Received) Paid		Unrealized Appreciation/ (Depreciation)

Protection Sold:
CDX.NA.IG Ind 43		1.000%		0.376%		12/20/29	$	23,000	$	470,978	$	328,470	$	142,508
CDX.NA.IG Ind 45		1.000		0.468		12/20/30		19,912		436,221		369,088		67,133

TOTAL									$	907,199	$	697,558	$	209,641

(a)

Payments made quarterly.

(b)

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

PURCHASED AND WRITTEN OPTIONS CONTRACTS — At June 30, 2026, 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
2Y IRS	BNP Paribas SA		2.000%		11/11/2026		2,390,000	EUR	2,390,000		$	721		$	35,923		$	(35,202	)
2Y IRS	Citibank NA		1.771		01/24/2028		1,179,999,999	JPY	1,179,999,999			21,032			44,872			(23,840	)

							1,182,389,999				$	21,753		$	80,795		$	(59,042	)

Puts
2Y IRS	Citibank NA		1.771		01/24/2028		1,179,999,999		1,179,999,999			56,100			44,872			11,228

Total purchased option contracts							2,362,389,998				$	77,853		$	125,667		$	(47,814	)

Written option contracts
Calls
1M IRS	Barclays Bank PLC		4.137		07/08/2026		(1,800,000)	$	(1,800,000	)		(18,050	)		(11,700	)		(6,350	)
1M IRS	BNP Paribas SA		3.091		07/06/2026		(1,600,000)	EUR	(1,600,000	)		(28,462	)		(10,769	)		(17,693	)
1M IRS	BNP Paribas SA		2.981		07/20/2026		(1,620,000)		(1,620,000	)		(13,946	)		(9,189	)		(4,757	)
2Y IRS	BNP Paribas SA		2.085		11/11/2026		(710,000)		(710,000	)		(230	)		(36,275	)		36,045
1M IRS	JPMorgan Securities, Inc.		3.100		07/13/2026		(1,610,000)		(1,610,000	)		(30,201	)		(10,766	)		(19,435	)

							(7,340,000)				$	(90,889	)	$	(78,699	)	$	(12,190	)

Puts
1M IRS	Barclays Bank PLC		4.137		07/08/2026		(1,800,000)	$	(1,800,000	)		(1,110	)		(11,700	)		10,590
1M IRS	BNP Paribas SA		3.091		07/06/2026		(1,600,000)	EUR	(1,600,000	)		(46	)		(10,769	)		10,723
1M IRS	BNP Paribas SA		2.981		07/20/2026		(1,620,000)		(1,620,000	)		(3,414	)		(9,189	)		5,775
1M IRS	JPMorgan Securities, Inc.		3.100		07/13/2026		(1,610,000)		(1,610,000	)		(433	)		(10,766	)		10,333

							(6,630,000)				$	(5,003	)	$	(42,424	)	$	37,421

Total written option contracts							(13,970,000)				$	(95,892	)	$	(121,123	)	$	25,231

TOTAL							2,348,419,998				$	(18,039	)	$	4,544		$	(22,583	)

OVER-THE-COUNTER OPTIONS ON FOREIGN CURRENCY


Description	Counterparty	Exercise Price		Expiration Date		Number of Contracts		Notional Amount		Market Value		Premiums Paid (Received) by Fund		Unrealized Appreciation/ (Depreciation)

Purchased option contracts
Calls
Call USD/Put ILS	Citibank NA	$	3.000		09/16/2026		6,262,000	$	6,262,000	$	90,793	$	62,683	$	28,110

Puts
Put AUD/Call USD	Barclays Bank PLC	AUD	0.682		07/30/2026		4,494,000	AUD	4,494,000		12,467		20,695		(8,228	)
Put AUD/Call USD	BNP Paribas SA		0.693		07/23/2026		8,840,000		8,840,000		50,946		43,703		7,243
Put AUD/Call USD	BNP Paribas SA		0.687		07/30/2026		8,882,000		8,882,000		37,149		39,732		(2,583	)
Put EUR/Call USD	BNP Paribas SA	EUR	1.158		07/07/2026		5,377,000	EUR	5,377,000		79,457		26,815		52,642
Put EUR/Call USD	BNP Paribas SA		1.150		07/08/2026		5,377,000		5,377,000		44,585		24,392		20,193
Put EUR/Call USD	BNP Paribas SA		1.143		07/24/2026		5,400,000		5,400,000		32,831		26,336		6,495
Put NZD/Call USD	BNP Paribas SA	NZD	0.596		07/08/2026		15,928,000	NZD	15,928,000		442,139		72,340		369,799

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

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


Description	Counterparty	Exercise Price		Expiration Date		Number of Contracts			Notional Amount			Market Value			Premiums Paid (Received) by Fund			Unrealized Appreciation/ (Depreciation)

Puts (continued)
Put NZD/Call USD	BNP Paribas SA	NZD	0.589		07/31/2026		5,307,000		NZD	5,307,000		$	109,994		$	28,595		$	81,399
Put NZD/Call USD	BNP Paribas SA		0.564		08/04/2026		10,860,000			10,860,000			40,721			46,611			(5,890	)
Put USD/Call JPY	BNP Paribas SA	$	156.350		07/07/2026		6,234,000		$	6,234,000			2,412			26,089			(23,677	)
Put USD/Call KRW	BNP Paribas SA		1,490.000		07/03/2026		3,131,000			3,131,000			9			31,451			(31,442	)
Put AUD/Call USD	BofA Securities LLC	AUD	0.695		07/30/2026		4,400,000		AUD	4,400,000			33,945			21,393			12,552
Put EUR/Call USD	BofA Securities LLC	EUR	1.145		07/24/2026		5,375,000		EUR	5,375,000			37,880			31,536			6,344
Put EUR/Call USD	BofA Securities LLC		1.140		08/20/2026		5,441,000			5,441,000			38,364			39,150			(786	)
Put GBP/Call USD	BofA Securities LLC	GBP	1.335		07/08/2026		4,660,000		GBP	4,660,000			47,596			38,214			9,382
Put NZD/Call USD	BofA Securities LLC	NZD	0.596		07/01/2026		5,309,000		NZD	5,309,000			148,486			21,975			126,511
Put NZD/Call USD	BofA Securities LLC		0.575		07/31/2026		5,333,000			5,333,000			46,763			25,240			21,523
Put USD/Call JPY	BofA Securities LLC	$	159.150		07/07/2026		3,117,000		$	3,117,000			2,874			23,013			(20,139	)
Put USD/Call JPY	BofA Securities LLC		157.500		07/22/2026		6,224,000			6,224,000			9,548			28,861			(19,313	)
Put USD/Call JPY	BofA Securities LLC		157.200		08/20/2026		12,517,000			12,517,000			46,150			72,048			(25,898	)
Put AUD/Call USD	HSBC Bank PLC	AUD	0.703		07/23/2026		8,867,000		AUD	8,867,000			109,245			48,488			60,757
Put GBP/Call USD	HSBC Bank PLC	GBP	1.305		08/13/2026		4,719,000		GBP	4,719,000			22,741			37,081			(14,340	)
Put NZD/Call USD	HSBC Bank PLC	NZD	0.577		07/31/2026		5,317,000		NZD	5,317,000			53,936			24,517			29,419
Put USD/Call JPY	HSBC Bank PLC	$	160.000		08/20/2026		6,258,000		$	6,258,000			46,322			47,774			(1,452	)
Put USD/Call KRW	HSBC Bank PLC		1,449.500		07/03/2026		3,146,000			3,146,000			0			27,559			(27,559	)
Put EUR/Call USD	MS & Co. Int. PLC	EUR	1.160		07/24/2026		5,355,000		EUR	5,355,000			93,713			39,796			53,917
Put EUR/Call USD	MS & Co. Int. PLC		1.157		07/24/2026		5,402,000			5,402,000			81,148			29,472			51,676
Put EUR/Call USD	MS & Co. Int. PLC		1.128		07/29/2026		5,473,000			5,473,000			10,574			28,747			(18,173	)
Put NZD/Call USD	MS & Co. Int. PLC	NZD	0.577		07/15/2026		15,952,000		NZD	15,952,000			153,032			63,256			89,776
Put USD/Call JPY	Standard Chartered Bank	$	159.900		07/22/2026		3,112,000		$	3,112,000			10,257			19,453			(9,196	)
Put NZD/Call USD	UBS AG (London)	NZD	0.562		08/20/2026		16,290,000		NZD	16,290,000			67,742			76,573			(8,831	)

							212,097,000					$	1,913,026		$	1,130,905		$	782,121

Total purchased option contracts							218,359,000					$	2,003,819		$	1,193,588		$	810,231

Written option contracts
Calls
Call EUR/Put CAD	Barclays Bank PLC	EUR	1.613		07/17/2026		(1,350,000	)	EUR	(1,350,000	)		(10,742	)		(8,744	)		(1,998	)
Call USD/Put SGD	Barclays Bank PLC	$	1.288		07/20/2026		(1,565,000	)	$	(1,565,000	)		(8,703	)		(6,338	)		(2,365	)
Call EUR/Put SEK	BNP Paribas SA	EUR	10.965		07/21/2026		(1,361,000	)	EUR	(1,361,000	)		(18,146	)		(9,676	)		(8,470	)
Call AUD/Put NZD	BofA Securities LLC	AUD	1.220		07/22/2026		(2,247,000	)	AUD	(2,247,000	)		(5,712	)		(8,657	)		2,945
Call AUD/Put NZD	Citibank NA		1.208		07/15/2026		(2,217,000	)		(2,217,000	)		(14,163	)		(8,665	)		(5,498	)
Call USD/Put ILS	Citibank NA	$	2.905		09/16/2026		(3,131,000	)	$	(3,131,000	)		(96,269	)		(65,078	)		(31,191	)
Call EUR/Put SEK	HSBC Bank PLC	EUR	10.990		07/13/2026		(1,348,000	)	EUR	(1,348,000	)		(13,999	)		(10,004	)		(3,995	)
Call AUD/Put NZD	JPMorgan Securities, Inc.	AUD	1.211		07/07/2026		(2,193,000	)	AUD	(2,193,000	)		(9,686	)		(9,077	)		(609	)
Call EUR/Put CAD	MS & Co. Int. PLC	EUR	1.623		07/06/2026		(1,351,000	)	EUR	(1,351,000	)		(2,200	)		(5,871	)		3,671
Call EUR/Put PLN	MS & Co. Int. PLC		4.290		07/22/2026		(1,368,000	)		(1,368,000	)		(7,357	)		(5,878	)		(1,479	)
Call EUR/Put CAD	Royal Bank of Canada (UK)		1.618		07/27/2026		(1,287,000	)		(1,287,000	)		(8,169	)		(8,051	)		(118	)
Call USD/Put CAD	Royal Bank of Canada (UK)	$	1.413		07/09/2026		(1,563,000	)	$	(1,563,000	)		(7,777	)		(6,080	)		(1,697	)
Call AUD/Put NZD	Standard Chartered Bank	AUD	1.220		07/17/2026		(2,222,000	)	AUD	(2,222,000	)		(4,917	)		(8,141	)		3,224
Call AUD/Put NZD	UBS AG (London)		1.206		07/07/2026		(2,200,000	)		(2,200,000	)		(16,217	)		(8,055	)		(8,162	)

							(25,403,000)					$	(224,057	)	$	(168,315	)	$	(55,742	)

Puts
Put AUD/Call USD	Barclays Bank PLC		0.695		07/30/2026		(4,400,000	)		(4,400,000	)		(33,945	)		(46,761	)		12,816
Put EUR/Call CAD	Barclays Bank PLC	EUR	1.613		07/17/2026		(1,350,000	)	EUR	(1,350,000	)		(3,173	)		(8,744	)		5,571
Put USD/Call SGD	Barclays Bank PLC	$	1.288		07/20/2026		(1,565,000	)	$	(1,565,000	)		(3,375	)		(6,338	)		2,963
Put AUD/Call USD	BNP Paribas SA	AUD	0.703		07/23/2026		(8,867,000	)	AUD	(8,867,000	)		(109,245	)		(103,973	)		(5,272	)
Put EUR/Call SEK	BNP Paribas SA	EUR	10.965		07/21/2026		(1,361,000	)	EUR	(1,361,000	)		(2,706	)		(9,676	)		6,970

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

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


Description	Counterparty	Exercise Price		Expiration Date		Number of Contracts			Notional Amount			Market Value			Premiums Paid (Received) by Fund			Unrealized Appreciation/ (Depreciation)

Puts (continued)
Put EUR/Call USD	BNP Paribas SA	EUR	1.157		07/24/2026		(5,402,000	)	EUR	(5,402,000	)	$	(81,148	)	$	(60,568	)	$	(20,580	)
Put EUR/Call USD	BNP Paribas SA		1.128		07/29/2026		(5,473,000	)		(5,473,000	)		(10,574	)		(14,314	)		3,740
Put NZD/Call USD	BNP Paribas SA	NZD	0.596		07/01/2026		(5,309,000	)	NZD	(5,309,000	)		(148,486	)		(33,853	)		(114,633	)
Put NZD/Call USD	BNP Paribas SA		0.577		07/31/2026		(5,317,000	)		(5,317,000	)		(53,936	)		(55,735	)		1,799
Put NZD/Call USD	BNP Paribas SA		0.575		07/31/2026		(5,333,000	)		(5,333,000	)		(46,763	)		(48,552	)		1,789
Put USD/Call JPY	BNP Paribas SA	$	159.150		07/07/2026		(3,117,000	)	$	(3,117,000	)		(2,874	)		(32,651	)		29,777
Put USD/Call KRW	BNP Paribas SA		1,449.500		07/03/2026		(3,146,000	)		(3,146,000	)		0			(8,705	)		8,705
Put AUD/Call NZD	BofA Securities LLC	AUD	1.220		07/22/2026		(2,247,000	)	AUD	(2,247,000	)		(8,746	)		(8,657	)		(89	)
Put EUR/Call USD	BofA Securities LLC	EUR	1.158		07/07/2026		(5,377,000	)	EUR	(5,377,000	)		(79,457	)		(54,955	)		(24,502	)
Put EUR/Call USD	BofA Securities LLC		1.160		07/24/2026		(5,355,000	)		(5,355,000	)		(93,713	)		(68,272	)		(25,441	)
Put USD/Call JPY	BofA Securities LLC	$	156.350		07/07/2026		(6,234,000	)	$	(6,234,000	)		(2,413	)		(17,281	)		14,868
Put USD/Call JPY	BofA Securities LLC		159.900		07/22/2026		(3,112,000	)		(3,112,000	)		(10,257	)		(29,754	)		19,497
Put USD/Call JPY	BofA Securities LLC		160.000		08/20/2026		(6,258,000	)		(6,258,000	)		(46,322	)		(73,519	)		27,197
Put AUD/Call NZD	Citibank NA	AUD	1.208		07/15/2026		(2,217,000	)	AUD	(2,217,000	)		(1,511	)		(8,665	)		7,154
Put EUR/Call USD	Deutsche Bank AG (London)	EUR	1.150		07/08/2026		(5,377,000	)	EUR	(5,377,000	)		(44,585	)		(25,562	)		(19,023	)
Put AUD/Call USD	HSBC Bank PLC	AUD	0.693		07/23/2026		(8,840,000	)	AUD	(8,840,000	)		(50,946	)		(23,351	)		(27,595	)
Put EUR/Call SEK	HSBC Bank PLC	EUR	10.990		07/13/2026		(1,348,000	)	EUR	(1,348,000	)		(2,008	)		(10,003	)		7,995
Put GBP/Call USD	HSBC Bank PLC	GBP	1.335		07/08/2026		(4,660,000	)	GBP	(4,660,000	)		(47,596	)		(29,137	)		(18,459	)
Put NZD/Call USD	HSBC Bank PLC	NZD	0.589		07/31/2026		(5,307,000	)	NZD	(5,307,000	)		(109,994	)		(55,156	)		(54,838	)
Put USD/Call JPY	HSBC Bank PLC	$	157.200		08/20/2026		(12,517,000	)	$	(12,517,000	)		(46,150	)		(46,813	)		663
Put AUD/Call NZD	JPMorgan Securities, Inc.	AUD	1.211		07/07/2026		(2,193,000	)	AUD	(2,193,000	)		(425	)		(9,076	)		8,651
Put USD/Call KRW	JPMorgan Securities, Inc.	$	1,490.000		07/03/2026		(1,565,500	)	$	(1,565,500	)		(5	)		(3,742	)		3,737
Put EUR/Call CAD	MS & Co. Int. PLC	EUR	1.623		07/06/2026		(1,351,000	)	EUR	(1,351,000	)		(4,566	)		(5,871	)		1,305
Put EUR/Call PLN	MS & Co. Int. PLC		4.290		07/22/2026		(1,368,000	)		(1,368,000	)		(2,728	)		(5,879	)		3,151
Put EUR/Call USD	MS & Co. Int. PLC		1.145		07/24/2026		(5,375,000	)		(5,375,000	)		(37,881	)		(12,573	)		(25,308	)
Put EUR/Call USD	MS & Co. Int. PLC		1.143		07/24/2026		(5,400,000	)		(5,400,000	)		(32,831	)		(64,034	)		31,203
Put NZD/Call USD	MS & Co. Int. PLC	NZD	0.596		07/08/2026		(15,928,000	)	NZD	(15,928,000	)		(442,138	)		(140,696	)		(301,442	)
Put EUR/Call CAD	Royal Bank of Canada (UK)	EUR	1.618		07/27/2026		(1,287,000	)	EUR	(1,287,000	)		(5,970	)		(8,065	)		2,095
Put USD/Call CAD	Royal Bank of Canada (UK)	$	1.413		07/09/2026		(1,563,000	)	$	(1,563,000	)		(2,510	)		(6,080	)		3,570
Put AUD/Call NZD	Standard Chartered Bank	AUD	1.220		07/17/2026		(2,222,000	)	AUD	(2,222,000	)		(7,683	)		(8,141	)		458
Put USD/Call JPY	Standard Chartered Bank	$	157.500		07/22/2026		(6,224,000	)	$	(6,224,000	)		(9,548	)		(19,880	)		10,332
Put USD/Call KRW	Standard Chartered Bank		1,490.000		07/03/2026		(1,565,500	)		(1,565,500	)		(5	)		(12,346	)		12,341
Put AUD/Call NZD	UBS AG (London)	AUD	1.206		07/07/2026		(2,200,000	)	AUD	(2,200,000	)		(58	)		(8,055	)		7,997
Put NZD/Call USD	UBS AG (London)	NZD	0.577		07/15/2026		(15,952,000	)	NZD	(15,952,000	)		(153,031	)		(61,604	)		(91,427	)

							(183,683,000	)				$	(1,739,302	)	$	(1,247,037	)	$	(492,265	)

Total written option contracts							(209,086,000	)				$	(1,963,359	)	$	(1,415,352	)	$	(548,007	)

TOTAL							9,273,000					$	40,460		$	(221,764	)	$	262,224

GOLDMAN SACHS BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)



Currency Abbreviations:
AUD		— Australian Dollar
BRL		— Brazil Real
CAD		— Canadian Dollar
CHF		— Swiss Franc
CLP		— Chilean Peso
CNH		— Chinese Yuan Renminbi Offshore
COP		— Colombia Peso
CZK		— Czech Republic Koruna
EUR		— Euro
GBP		— British Pound
HUF		— Hungarian Forint
ILS		— Israeli Shekel
INR		— Indian Rupee
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
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
GO		— General Obligation
LLC		— Limited Liability Company
LP		— Limited Partnership
MSCI		— Morgan Stanley Capital International
MTN		— Medium Term Note
PLC		— Public Limited Company
RB		— Revenue Bond
REMICS		— Real Estate Mortgage Investment Conduits
RFUCC		— Refinitive USD IBOR Consumer Cash Fallbacks 1 year
SOFR		— Secured Overnight Financing Rate
STACR		— Structured Agency Credit Risk
WR		— Withdrawn Rating

Abbreviations:
1M IRS		— 1 Month Interest Rate Swaptions
2Y IRS		— 2 Year Interest Rate Swaptions
AUDOR		— Australian Dollar Offered Rate
BofA Securities LLC		— Bank of America Securities LLC
BUBOR		— Budapest Interbank Offered Rate
CDOR		— Canadian Dollar Offered Rate
CDX.NA.IG Ind 43		— CDX North America Investment Grade Index 43
CDX.NA.IG Ind 45		— CDX North America Investment Grade Index 45
CHFOR		— Swiss Franc Offered Rate
CLICP		— Sinacofi Chile Interbank Rate
CMBX		— Commercial Mortgage Backed Securities Index
EURO		— Euro Offered Rate
JIBAR		— Johannesburg Interbank Agreed Rate
JYOR		— Japanese Yen Offered Rate
KWCDC		— South Korean Won Certificate of Deposit
MIBOR		— Mumbai Interbank Offered Rate
MS & Co. Int. PLC		— Morgan Stanley & Co. International PLC
NIBOR		— Norwegian Interbank Offered Rate
NZDOR		— New Zealand Dollar Offered Rate
PRIBOR		— Prague Interbank 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 CORE FIXED INCOME FUND

Schedule of Investments

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – 44.0%
Collateralized Mortgage Obligations – 5.1%
Regular Floater^(a)– 1.6%
Federal Home Loan Mortgage Corp. REMICS Series 5502, Class FG (1 mo. USD Term SOFR + 1.000%)
$	2,284,250		4.628	%	02/25/55	$ 2,287,262
Federal Home Loan Mortgage Corp. REMICS Series 5452, Class DF (1 mo. USD Term SOFR + 1.250%)
	5,469,754		4.878		09/25/54	5,505,703
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2024-DNA3, Class M2 (1 mo. USD Term SOFR + 1.450%)
	771,124		5.078	^(b)(c)	10/25/44	771,203
Federal National Mortgage Association REMICS Series 2025-11, Class FB (1 mo. USD Term SOFR + 1.000%)
	4,915,736		4.628		03/25/55	4,952,567
Federal National Mortgage Association REMICS Series 2024-70, Class FB (1 mo. USD Term SOFR + 1.100%)
	12,401,143		4.728		10/25/54	12,486,033
Federal National Mortgage Association REMICS Series 2025-13, Class FB (1 mo. USD Term SOFR + 1.300%)
	8,982,943		4.928		03/25/55	9,071,364
Government National Mortgage Association REMICS Series 2025- 150, Class FH (1 mo. USD Term SOFR + 1.100%)
	6,569,348		4.709	^(b)	09/20/55	6,625,879

						41,700,011

Sequential Fixed Rate – 1.7%
Angel Oak Mortgage Trust Series 2025-13, Class A1
	5,118,067		4.929	^(b)(c)(d)	10/25/70	5,076,601
COLT Mortgage Loan Trust Series 2024-INV3, Class A1
	2,961,842		5.443	^(b)(c)(d)	09/25/69	2,965,967
Ellington Financial Mortgage Trust Series 2026-NQM4, Class A1A
	5,569,527		5.466	^(b)(c)(d)	04/25/71	5,571,320
Federal Home Loan Mortgage Corp. REMICS Series 4246, Class PT
	47,959		6.500		02/15/36	49,894
Federal Home Loan Mortgage Corp. REMICS Series 2755, Class ZA
	112,508		5.000		02/15/34	113,235
Federal National Mortgage Association REMICS Series 2011-99, Class DB
	220,035		5.000		10/25/41	221,051
Federal National Mortgage Association REMICS Series 2012-111, Class B
	42,355		7.000		10/25/42	45,042
Federal National Mortgage Association REMICS Series 2012-153, Class B
	150,770		7.000		07/25/42	160,454
Federal National Mortgage Association REMICS Series 2011-52, Class GB
	246,032		5.000		06/25/41	247,237
Government National Mortgage Association REMICS Series 2021- 135, Class A
	11,252,941		2.000	^(b)	08/20/51	9,228,996
JP Morgan Mortgage Trust Series 2024-VIS2, Class A1
	2,604,242		5.853	^(b)(c)(d)	11/25/64	2,615,154
Morgan Stanley Residential Mortgage Loan Trust Series 2025-DSC1, Class A1
	5,275,307		5.562	^(b)(c)(d)	03/25/70	5,286,365
OBX Trust Series 2025-NQM13, Class A1A
	2,678,819		5.441	^(b)(c)(d)	05/25/65	2,684,368


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Sequential Fixed Rate – (continued)
Verus Securitization Trust Series 2021-7, Class A1
$	5,544,630		2.829	%^(b)(c)(d)	10/25/66	$ 5,037,234
Verus Securitization Trust Series 2025-4, Class A1
	6,526,833		5.448	^(b)(c)(d)	05/25/70	6,539,107

						45,842,025

Sequential Floating Rate^(a)(b)– 1.8%
Angel Oak Mortgage Trust Series 2021-4, Class A1
	8,208,403		1.035	^(c)	01/20/65	6,987,346
COLT Mortgage Loan Trust Series 2021-5, Class A1
	3,766,292		1.726	^(c)	11/26/66	3,407,293
CSMC Trust Series 2020-AFC1, Class M1
	1,650,000		2.841	^(c)	02/25/50	1,407,815
CSMC Trust Series 2021-NQM7, Class A1
	5,399,942		1.756	^(c)	10/25/66	4,739,204
Deephaven Residential Mortgage Trust Series 2021-3, Class A2
	1,261,421		1.400	^(c)	08/25/66	1,140,860
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2021-DNA5, Class M2 (1 mo. USD Term SOFR + 1.650%)
	101,720		5.278	^(c)	01/25/34	102,014
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2025-DNA2, Class A1 (1 mo. USD Term SOFR + 1.100%)
	2,113,250		4.728	^(c)	05/25/45	2,119,882
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2021-R01, Class 1M2 (1 mo. USD Term SOFR + 1.550%)
	354,272		5.178	^(c)	10/25/41	354,746
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2021-R03, Class 1M2 (1 mo. USD Term SOFR + 1.650%)
	839,025		5.278	^(c)	12/25/41	841,607
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2024-R01, Class 1M2 (1 mo. USD Term SOFR + 1.800%)
	1,300,000		5.428	^(c)	01/25/44	1,309,046
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2025-R01, Class 1M2 (1 mo. USD Term SOFR + 1.500%)
	3,450,000		5.128	^(c)	01/25/45	3,455,135
GCAT Trust Series 2021-NQM5, Class A2
	3,918,268		1.417	^(c)	07/25/66	3,281,847
HarborView Mortgage Loan Trust Series 2005-16, Class 2A1A (1 mo. USD Term SOFR + 0.594%)
	13,731		4.234		01/19/36	15,754
Impac CMB Trust Series 2004-8, Class 1A (1 mo. USD Term SOFR + 0.834%)
	8,369		4.483		10/25/34	8,259
JP Morgan Mortgage Trust Series 2021-LTV2, Class A1
	2,665,417		2.520	^(c)	05/25/52	2,201,270
JP Morgan Mortgage Trust Series 2024-1, Class A4
	817,737		6.000	^(c)	06/25/54	818,086
Mill City Mortgage Loan Trust Series 2017-2, Class A3
	124,709		3.250	^(c)	07/25/59	122,261
PRKCM Trust Series 2021-AFC2, Class A1
	3,778,831		2.071	^(c)	11/25/56	3,344,753
PRKCM Trust Series 2021-AFC2, Class A2
	4,132,000		2.693	^(c)	11/25/56	3,106,313

GOLDMAN SACHS CORE FIXED INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Sequential Floating Rate^(a)(b)– (continued)
Starwood Mortgage Residential Trust Series 2021-6, Class A1
$	1,906,115		1.920	%^(c)	11/25/66	$ 1,680,522
Verus Securitization Trust Series 2022-1, Class A3
	2,566,554		3.288	^(c)	01/25/67	2,374,503
Verus Securitization Trust Series 2025-9, Class A1
	5,366,693		4.935	^(c)	10/27/70	5,321,774
WaMu Mortgage Pass-Through Certificates Trust Series 2002-AR19, Class A7
	5,897		5.166		02/25/33	5,673
Wells Fargo Mortgage-Backed Securities Trust Series 2019-3, Class A1
	68,639		3.500	^(c)	07/25/49	61,379

						48,207,342

TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS						$ 135,749,378

Commercial Mortgage-Backed Securities – 6.5%
Sequential Fixed Rate – 1.0%
BMO Mortgage Trust Series 2023-C7, Class A5
$	3,000,000		6.160	%^(b)	12/15/56	$ 3,177,636
COMM Mortgage Trust Series 2024-277P, Class A
	5,425,000		6.338	^(c)	08/10/44	5,606,880
DOLP Trust Series 2021-NYC, Class A
	3,250,000		2.956	^(c)	05/10/41	2,894,819
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series K-161, Class A2
	3,450,000		4.900	^(a)(b)	10/25/33	3,506,814
JP Morgan Chase Commercial Mortgage Securities Trust Series 2019-OSB, Class B
	4,000,000		3.598	^(b)(c)	06/05/39	3,738,071
ROCK Trust Series 2024-CNTR, Class A
	6,850,000		5.388	^(c)	11/13/41	6,918,086

						25,842,306

Sequential Floating Rate – 5.5%
Bank5 Series 2024-5YR9, Class AS
	4,484,000		6.182	^(a)(b)	08/15/57	4,592,846
Bank5 Series 2026-5YR22, Class A3
	6,100,000		5.713	^(a)(b)	06/15/59	6,291,478
Bank5 Trust Series 2025-5YR13, Class AS
	3,372,000		6.096	^(a)(b)	01/15/58	3,456,800
BBCMS Mortgage Trust Series 2025-5C36, Class AS
	4,500,000		5.835	^(a)(b)	08/15/58	4,590,648
BFLD Commercial Mortgage Trust Series 2025-660F, Class B (1 mo. USD Term SOFR + 1.800%)
	7,200,000		5.425	^(a)(c)	11/15/42	7,226,740
BSTN Commercial Mortgage Trust Series 2025-1C, Class A
	4,825,000		5.548	^(a)(c)	06/15/44	4,886,839
BX Commercial Mortgage Trust Series 2024-AIRC, Class A (1 mo. USD Term SOFR + 1.691%)
	1,747,511		5.317	^(a)(c)	08/15/41	1,753,944
BX Commercial Mortgage Trust Series 2026-CSMO, Class A (1 mo. USD Term SOFR + 1.400%)
	5,250,000		5.025	^(a)(c)	02/15/43	5,260,281
BX Commercial Mortgage Trust Series 2026-VLT10, Class A
	3,800,000		5.358	^(a)(c)	07/13/58	3,694,704


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Sequential Floating Rate – (continued)
BX Commercial Mortgage Trust Series 2026-LP3, Class A (1 mo. USD Term SOFR + 1.380%)
$	8,023,946		5.005	%^(a)(c)	04/15/43	$ 8,045,273
BX Trust Series 2024-BIO, Class A (1 mo. USD Term SOFR + 1.642%)
	4,725,000		5.267	^(a)(c)	02/15/41	4,727,196
BX Trust Series 2025-ARIA, Class A
	5,350,000		5.199	^(a)(c)	12/13/42	5,352,862
Durst Commercial Mortgage Trust Series 2025-151, Class A
	5,250,000		5.317	^(a)(c)	08/10/42	5,270,862
Durst Commercial Mortgage Trust Series 2025-151, Class B
	6,350,000		5.768	^(a)(c)	08/10/42	6,399,936
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series K-152, Class A2
	3,600,000		3.780	^(a)(b)	11/25/32	3,450,906
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series KF153, Class AS (1 mo. USD Term SOFR + 0.680%)
	1,958,815		4.272	^(a)(b)	02/25/33	1,960,606
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series K510, Class A2
	1,350,000		5.069	^(a)(b)	10/25/28	1,364,004
HLTN Commercial Mortgage Trust Series 2026-DPLO, Class A (1 mo. USD Term SOFR + 1.700%)
	5,550,000		5.325	^(a)(c)	04/15/41	5,564,083
Hudson Yards Mortgage Trust Series 2025-SPRL, Class A
	2,280,000		5.649	^(a)(c)	01/13/40	2,317,789
IRV Trust Series 2025-200P, Class A
	3,600,000		5.471	^(a)(b)(c)	03/14/47	3,624,057
JP Morgan Chase Commercial Mortgage Securities Trust Series 2024-OMNI, Class A
	1,975,000		5.990	^(a)(c)	10/05/39	1,987,152
JW Commercial Mortgage Trust Series 2026-MRCO, Class A (1 mo. USD Term SOFR + 1.500%)
	9,650,000		5.125	^(a)(c)	06/15/39	9,671,507
KIND Commercial Mortgage Trust Series 2024-1, Class A (1 mo. USD Term SOFR + 1.890%)
	5,150,000		5.515	^(a)(c)	08/15/41	5,153,942
Manhattan West Mortgage Trust Series 2026-2MW, Class A
	6,500,000		5.499	^(a)(c)	06/10/48	6,547,156
Manhattan West Mortgage Trust Series 2026-2MW, Class B
	2,900,000		5.718	^(a)(c)	06/10/48	2,915,207
NY Commercial Mortgage Trust Series 2025-299P, Class B
	1,950,000		6.125	^(a)(c)	02/10/47	1,997,478
NYC Commercial Mortgage Trust Series 2025-3BP, Class B (1 mo. USD Term SOFR + 1.692%)
	2,300,000		5.318	^(a)(c)	02/15/42	2,299,886
NYC Commercial Mortgage Trust Series 2025-11X, Class A (1 mo. USD Term SOFR + 1.743%)
	4,600,000		5.368	^(a)(c)	10/15/40	4,618,142
NYC Commercial Mortgage Trust Series 2026-9W57, Class A
	10,600,000		5.053	^(a)(b)(c)	06/06/40	10,551,209
NYC Commercial Mortgage Trust Series 2026-9W57, Class B
	4,400,000		5.353	^(a)(b)(c)	06/06/40	4,378,454
ROCK Trust Series 2024-CNTR, Class B
	2,250,000		5.930	^(c)	11/13/41	2,284,586

GOLDMAN SACHS CORE FIXED INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Sequential Floating Rate – (continued)
Wells Fargo Commercial Mortgage Trust Series 2024-1CHI, Class A
$	4,150,000		5.484	%^(a)(c)	07/15/35	$ 4,152,780

						146,389,353

TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES						$ 172,231,659

Federal Agencies – 32.4%
Adjustable Rate Federal National Mortgage Association^(a)– 0.0%
(1 yr. CMT + 2.160%)
$	652		5.742	%	06/01/33	$ 668
(RFUCC 1 yr. Treasury + 1.655%)
	67,612		6.280		07/01/34	69,303
(RFUCC 1 yr. Treasury + 1.573%)
	262,987		6.079		09/01/34	268,747
(RFUCC 1 yr. Treasury + 1.732%)
	164,263		5.897		05/01/35	168,925
(RFUCC 1 yr. Treasury + 1.233%)
	46,535		5.483		06/01/35	47,298

						554,941

Federal Home Loan Mortgage Corp. – 0.1%
	4,980		7.500		12/01/30	5,188
	2,462		7.500		01/01/31	2,562
	2,757		5.000		10/01/33	2,776
	280		5.000		04/01/35	283
	4,053		5.000		07/01/35	4,084
	26,166		5.000		12/01/35	26,314
	63,249		5.000		01/01/38	63,835
	134,205		5.000		01/01/39	135,432
	49,818		5.000		06/01/39	50,284
	4,757		4.000		06/01/40	4,603
	2,365		5.000		08/01/40	2,379
	876		4.500		11/01/40	868
	36,347		4.000		02/01/41	35,237
	2,428		5.000		06/01/41	2,442
	3,569		4.000		11/01/41	3,444
	779,022		4.500		08/01/48	762,220

						1,101,951

Federal National Mortgage Association – 1.2%
	6,085		7.000		03/01/31	6,423
	32,647,715		5.500		11/01/55	32,943,931

						32,950,354

Government National Mortgage Association – 9.5%
	3,667		6.000		11/15/38	3,779
	33,326		5.000		07/15/40	33,624
	1,921		4.000		02/20/41	1,846
	3,078		4.000		11/20/41	2,953
	522		4.000		01/20/42	500
	1,676		4.000		04/20/42	1,608
	1,047		4.000		10/20/42	1,003
	15,950		4.000		08/20/43	15,257
	1,494		4.000		03/20/44	1,427
	1,832		4.000		05/20/44	1,750
	127,856		4.000		11/20/44	121,958
	8,406		4.000		05/20/45	8,012


Principal Amount		Interest Rate			Maturity Date			Value

Mortgage-Backed Obligations – (continued)
Government National Mortgage Association – (continued)
$	1,138,121		4.000	%		07/20/45		$ 1,084,080
	18,039		4.000			10/20/45		17,173
	83,870		4.500			02/20/48		82,374
	226,527		4.500			04/20/48		222,062
	619,017		4.500			05/20/48		606,816
	569,249		5.000			07/20/48		573,737
	988,876		4.500			08/20/48		968,458
	514,746		5.000			08/20/48		518,322
	4,240,385		4.500			09/20/48		4,152,830
	4,394		3.500			09/20/48		4,052
	644,015		5.000			10/20/48		648,087
	2,045,433		5.000			11/20/48		2,058,363
	3,796,205		4.500			12/20/48		3,713,075
	1,163,956		5.000			12/20/48		1,170,587
	2,183,902		4.500			01/20/49		2,136,079
	1,865,011		5.000			01/20/49		1,874,470
	1,498,907		4.000			02/20/49		1,416,939
	470,433		4.500			02/20/49		459,984
	375,017		4.500			03/20/49		366,805
	1,334,285		4.000			03/20/49		1,261,319
	649,480		5.000			03/20/49		653,180
	6,158		3.500			04/20/49		5,663
	1,488,064		4.000			04/20/49		1,406,689
	467,884		4.000			05/20/49		442,297
	15,053		3.500			08/20/49		13,819
	2,465,214		3.000			08/20/49		2,203,682
	1,505,991		5.000			08/20/49		1,517,865
	555,073		4.500			10/20/49		542,918
	12,115,965		3.000			10/20/49		10,807,992
	446,871		3.500			12/20/49		410,243
	1,304,592		3.500			02/20/50		1,197,660
	4,486,264		3.000			03/20/50		3,996,551
	121,141		3.500			06/20/50		111,176
	282,375		3.500			07/20/50		259,230
	808,693		4.000			01/20/51		763,964
	573,805		3.000			07/20/51		509,763
	1,210,999		2.500			09/20/51		1,035,625
	1,417,730		2.500			10/20/51		1,216,405
	6,252,798		3.000			11/20/51		5,549,188
	2,210,719		2.500			11/20/51		1,896,095
	5,196,557		3.000			12/20/51		4,614,945
	2,670,729		2.500			12/20/51		2,291,074
	27,397,461		4.500			09/20/52		26,591,029
	1,474,543		3.500			02/20/53		1,353,241
	8,612,563		5.000			02/20/56		8,531,900
	16,000,000		2.500			TBA-30yr	^(e)	13,657,418
	14,000,000		2.000			TBA-30yr	^(e)	11,468,016
	8,000,000		3.500			TBA-30yr	^(e)	7,180,937
	6,000,000		4.000			TBA-30yr	^(e)	5,570,859
	25,000,000		5.000			TBA-30yr	^(e)	24,644,447
	31,000,000		5.500			TBA-30yr	^(e)	31,150,682
	55,000,000		6.000			TBA-30yr	^(e)	56,020,907

								251,144,789

Uniform Mortgage-Backed Security – 21.6%
	959		7.000			08/01/27		964
	23		6.500			09/01/27		23
	5,853		7.000			03/01/28		5,891

GOLDMAN SACHS CORE FIXED INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Uniform Mortgage-Backed Security – (continued)
$	292		6.500	%	05/01/28	$ 302
	3,750		4.500		04/01/39	3,714
	3,315		4.500		07/01/39	3,285
	87,644		4.500		12/01/39	86,855
	6,461		4.500		04/01/41	6,385
	191,656		4.500		05/01/41	189,421
	27,060		4.500		08/01/41	26,787
	8,044		3.000		11/01/42	7,359
	162,727		3.000		12/01/42	149,318
	199,581		3.000		01/01/43	183,395
	33,152		3.000		02/01/43	30,540
	316,890		3.000		03/01/43	290,077
	462,002		3.000		04/01/43	422,579
	388,094		3.000		05/01/43	354,692
	25,550		3.000		06/01/43	23,298
	324,945		3.000		07/01/43	296,556
	212,049		5.000		05/01/44	213,354
	1,006,211		4.500		04/01/45	992,802
	121,176		4.500		05/01/45	119,522
	324,418		4.500		06/01/45	319,370
	2,479,652		4.000		08/01/45	2,382,929
	20,384		4.000		03/01/46	19,487
	25,988		4.000		06/01/46	24,754
	7,787		4.000		08/01/46	7,418
	57,818		4.000		10/01/46	55,073
	92,171		4.000		06/01/47	87,676
	1,139,302		4.500		07/01/47	1,114,019
	317,621		4.500		11/01/47	310,474
	139,804		4.000		12/01/47	132,855
	540,992		4.000		01/01/48	514,100
	1,580,994		4.000		02/01/48	1,502,174
	37,374		4.500		02/01/48	36,417
	1,131,856		4.000		03/01/48	1,074,822
	60,984		4.500		05/01/48	59,364
	824,734		4.000		06/01/48	783,221
	10,618		4.500		06/01/48	10,336
	8,757		4.500		07/01/48	8,523
	794,685		4.000		07/01/48	754,631
	1,280,869		4.000		08/01/48	1,215,197
	6,239		4.500		08/01/48	6,063
	786,046		4.500		09/01/48	766,540
	2,199,978		5.000		11/01/48	2,209,659
	1,290,399		4.500		11/01/48	1,253,364
	859,068		4.500		12/01/48	833,732
	1,084,912		4.500		01/01/49	1,052,678
	810,094		4.500		02/01/49	786,620
	671,493		3.000		02/01/49	604,864
	2,837		4.500		03/01/49	2,747
	380,593		4.500		06/01/49	370,964
	1,368,383		4.500		07/01/49	1,327,893
	146,790		3.500		07/01/49	135,532
	733,466		4.500		08/01/49	712,127
	4,825,460		3.000		09/01/49	4,300,257
	2,068,891		5.000		10/01/49	2,070,883
	954,268		3.000		10/01/49	850,405
	1,376,317		3.000		12/01/49	1,223,078
	95,002		4.500		02/01/50	92,599
	17,065,957		4.500		03/01/50	16,625,974


Principal Amount		Interest Rate			Maturity Date			Value

Mortgage-Backed Obligations – (continued)
Uniform Mortgage-Backed Security – (continued)
$	7,109,633		4.000	%		03/01/50		$ 6,734,004
	1,842,335		5.000			03/01/50		1,844,110
	14,693		4.500			04/01/50		14,272
	778,026		4.500			05/01/50		755,712
	2,066,529		2.500			09/01/50		1,768,612
	18,525,724		2.000			10/01/50		14,985,026
	16,877,645		3.000			10/01/50		14,981,934
	4,859,594		3.000			11/01/50		4,309,415
	18,521,368		2.000			11/01/50		14,975,042
	2,323,059		2.500			11/01/50		1,984,530
	6,354,138		3.000			12/01/50		5,640,710
	8,913,230		2.500			01/01/51		7,508,492
	3,867,877		2.500			02/01/51		3,267,553
	161,668		4.500			03/01/51		157,021
	802,891		2.000			03/01/51		649,720
	13,577,423		2.500			05/01/51		11,524,806
	11,130,366		2.000			05/01/51		8,975,969
	28,234,791		2.500			08/01/51		24,093,795
	467,614		2.000			08/01/51		376,451
	19,479,118		2.500			09/01/51		16,581,379
	2,166,490		2.000			09/01/51		1,744,647
	231,371		4.500			10/01/51		223,468
	2,985,466		2.000			10/01/51		2,403,415
	51,431,328		2.000			02/01/52		41,337,926
	131,929		4.500			03/01/52		127,531
	537,847		2.000			03/01/52		432,170
	9,439,604		2.500			03/01/52		7,941,296
	2,519,667		2.000			04/01/52		2,024,601
	3,718,578		4.500			04/01/52		3,594,131
	10,772,226		2.500			04/01/52		9,037,241
	1,321,954		4.500			05/01/52		1,277,787
	4,549,592		2.500			05/01/52		3,828,264
	4,172,765		5.500			09/01/52		4,252,938
	9,719,308		6.000			11/01/52		10,094,070
	3,665,313		6.000			12/01/52		3,803,201
	4,217,385		5.500			04/01/53		4,275,654
	2,034,212		6.000			04/01/53		2,109,826
	13,490,825		4.500			05/01/53		13,125,044
	3,890,876		6.500			09/01/53		4,046,988
	1,902,001		6.500			12/01/53		1,994,065
	10,391,910		6.000			01/01/54		10,636,025
	10,105,286		2.500			01/01/54		8,500,766
	15,487,249		6.500			06/01/54		16,261,091
	14,269,823		6.000			08/01/55		14,667,518
	35,000,000		2.500			TBA-30yr	^(e)	29,237,306
	3,000,000		3.500			TBA-30yr	^(e)	2,723,320
	21,000,000		4.000			TBA-30yr	^(e)	19,619,414
	9,000,000		5.000			TBA-30yr	^(e)	8,842,852
	51,000,000		5.500			TBA-30yr	^(e)	51,169,335
	54,000,000		6.000			TBA-30yr	^(e)	55,164,375
	41,000,000		4.500			TBA-30yr	^(e)	40,505,118

GOLDMAN SACHS CORE FIXED INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date			Value

Mortgage-Backed Obligations – (continued)
Uniform Mortgage-Backed Security – (continued)
$	8,000,000		6.500	%		TBA-30yr	^(e)	$ 8,274,375

								573,450,249

TOTAL FEDERAL AGENCIES								$ 859,202,284

TOTAL MORTGAGE-BACKED OBLIGATIONS (Cost $1,184,321,159)								$1,167,183,321



Corporate Obligations – 27.4%
Aerospace & Defense^(b)– 0.6%
Boeing Co.
$	1,575,000		3.450	%		11/01/28		$ 1,533,829
	2,211,000		5.150			05/01/30		2,237,797
	4,599,000		6.528			05/01/34		5,000,125
	163,000		3.375			06/15/46		114,372
	100,000		3.625			03/01/48		71,715
	100,000		3.850			11/01/48		73,880
	1,225,000		5.805			05/01/50		1,209,406
	4,093,000		6.858			05/01/54		4,599,018
Howmet Aerospace, Inc.
	1,728,000		4.850			10/15/31		1,733,236

								16,573,378

Agriculture^(b)– 0.5%
BAT Capital Corp.
	5,749,000		6.000			02/20/34		6,063,930
	5,925,000		5.625			08/15/35		6,108,971
Bunge Ltd. Finance Corp.
	843,000		4.200			09/17/29		833,095

								13,005,996

Automotive^(b)– 0.6%
Ford Motor Credit Co. LLC
	9,700,000		5.420			04/09/31		9,617,453
General Motors Financial Co., Inc.
	6,075,000		5.950			04/04/34		6,288,050

								15,905,503

Banks – 6.5%
Banco Santander SA
	400,000		4.250			04/11/27		399,608
	800,000		3.306			06/27/29		770,928
	800,000		2.749			12/03/30		725,520
	4,400,000		6.921			08/08/33		4,781,788
Bank of America Corp.
	237,000		6.110			01/29/37		249,625
(5 yr. CMT + 1.200%)
	94,000		2.482	^(a)(b)		09/21/36		82,070
(Secured Overnight Financing Rate + 1.130%)
	13,190,000		5.045	^(a)(b)		02/06/37		12,989,380
(Secured Overnight Financing Rate + 1.220%)
	1,375,000		2.651	^(a)(b)		03/11/32		1,246,644
(Secured Overnight Financing Rate + 1.310%)
	150,000		5.511	^(a)(b)		01/24/36		153,207
(Secured Overnight Financing Rate + 1.370%)
	3,150,000		1.922	^(a)(b)		10/24/31		2,795,215


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Banks – (continued)
(Secured Overnight Financing Rate + 1.630%)
$	9,205,000		5.202	%^(a)(b)	04/25/29	$ 9,291,527
(Secured Overnight Financing Rate + 1.830%)
	5,000,000		4.571	^(a)(b)	04/27/33	4,904,050
(Secured Overnight Financing Rate + 2.150%)
	5,225,000		2.592	^(a)(b)	04/29/31	4,821,734
(Secured Overnight Financing Rate + 2.160%)
	1,089,000		5.015	^(a)(b)	07/22/33	1,090,557
Bank of New York Mellon Corp.^(a)(b)(Secured Overnight Financing Rate + 1.755%)
	315,000		4.596		07/26/30	314,918
Barclays PLC^(a)(b)
(1 yr. CMT + 3.500%)
	4,410,000		7.437		11/02/33	4,918,826
(Secured Overnight Financing Rate + 1.590%)
	2,090,000		5.785		02/25/36	2,128,937
BNP Paribas SA^(a)(b)(c)(Secured Overnight Financing Rate + 1.620%)
	3,975,000		5.786		01/13/33	4,099,855
BPCE SA^(a)(b)(c)(Secured Overnight Financing Rate + 1.312%)
	1,650,000		2.277		01/20/32	1,458,353
Canadian Imperial Bank of Commerce^(a)(b)(Secured Overnight Financing Rate + 1.105%)
	3,925,000		5.245		01/13/31	3,982,619
Citigroup, Inc.
	2,450,000		4.450		09/29/27	2,446,472
(Secured Overnight Financing Rate + 1.351%)
	100,000		3.057	^(a)(b)	01/25/33	90,583
(Secured Overnight Financing Rate + 1.422%)
	1,375,000		2.976	^(a)(b)	11/05/30	1,298,701
(Secured Overnight Financing Rate + 1.830%)
	2,360,000		6.020	^(a)(b)	01/24/36	2,433,868
(Secured Overnight Financing Rate + 2.086%)
	2,495,000		4.910	^(a)(b)	05/24/33	2,482,700
(Secured Overnight Financing Rate + 2.338%)
	6,000,000		6.270	^(a)(b)	11/17/33	6,395,460
First Horizon Corp.^(a)(b)(Secured Overnight Financing Rate + 1.766%)
	715,000		5.514		03/07/31	723,859
HSBC Holdings PLC
	600,000		4.950		03/31/30	605,448
Huntington Bancshares, Inc.^(a)(b)(Secured Overnight Financing Rate + 1.870%)
	9,935,000		5.709		02/02/35	10,166,982
JPMorgan Chase & Co.^(a)(b)
(3 mo. USD Term SOFR + 1.599%)
	2,150,000		3.782		02/01/28	2,141,292
(3 mo. USD Term SOFR + 2.515%)
	675,000		2.956		05/13/31	630,173
(Secured Overnight Financing Rate + 0.840%)
	3,000,000		4.347		01/22/32	2,938,470
(Secured Overnight Financing Rate + 1.070%)
	4,090,000		4.898		01/22/37	3,984,805
(Secured Overnight Financing Rate + 1.260%)
	3,475,000		2.963		01/25/33	3,144,736
(Secured Overnight Financing Rate + 1.300%)
	3,010,000		5.193		02/05/37	2,966,024
(Secured Overnight Financing Rate + 1.635%)
	5,125,000		5.576		07/23/36	5,207,205

GOLDMAN SACHS CORE FIXED INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount			Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Banks – (continued)
(Secured Overnight Financing Rate + 1.680%)
$	4,285,000			5.572	%	04/22/36	$ 4,405,666
M&T Bank Corp.^(a)(b)
(Secured Overnight Financing Rate + 1.610%)
	6,050,000			5.385		01/16/36	6,047,761
(Secured Overnight Financing Rate + 1.850%)
	2,280,000			5.053		01/27/34	2,261,555
(Secured Overnight Financing Rate + 2.800%)
	1,930,000			7.413		10/30/29	2,042,365
Morgan Stanley
	1,631,000			3.950		04/23/27	1,625,683
(Secured Overnight Financing Rate + 1.034%)
	2,625,000			1.794	^(a)(b)	02/13/32	2,283,934
(Secured Overnight Financing Rate + 1.143%)
	3,900,000			2.699	^(a)(b)	01/22/31	3,623,256
(Secured Overnight Financing Rate + 1.360%)
	3,175,000			2.484	^(a)(b)	09/16/36	2,755,265
(Secured Overnight Financing Rate + 1.590%)
	4,320,000			5.164	^(a)(b)	04/20/29	4,353,912
(Secured Overnight Financing Rate + 1.757%)
	695,000			5.664	^(a)(b)	04/17/36	713,035
Royal Bank of Canada
	1,700,000			5.000		02/01/33	1,712,631
Shinhan Bank Co. Ltd.^(c)
	540,000			4.500		04/12/28	539,681
State Street Corp.^(a)(b)(Secured Overnight Financing Rate + 2.650%)
	100,000			3.152		03/30/31	95,062
Truist Financial Corp.^(a)(b)(Secured Overnight Financing Rate +
	1.922	%)
	7,450,000			5.711		01/24/35	7,673,053
U.S. Bancorp^(a)(b)
(Secured Overnight Financing Rate + 1.296%)
	6,320,000			5.083		05/15/31	6,389,267
(Secured Overnight Financing Rate + 2.020%)
	3,640,000			5.775		06/12/29	3,717,095
UBS AG
	4,135,000			1.250		08/07/26	4,122,554
UBS Group AG^(a)(b)(c)
(3 mo. USD Term SOFR + 1.410%)
	1,675,000			3.869		01/12/29	1,655,738
(5 yr. CMT + 4.758%)
	695,000			9.250		11/13/33	802,141
(Secured Overnight Financing Rate + 1.730%)
	1,545,000			3.091		05/14/32	1,417,707
(Secured Overnight Financing Rate + 1.760%)
	1,915,000			5.580		05/09/36	1,949,470
Wells Fargo & Co.
	2,700,000			3.000		10/23/26	2,689,578
	325,000			4.300		07/22/27	324,870
Westpac Banking Corp.^(a)(b)(5 yr. CMT + 2.000%)
	700,000			4.110		07/24/34	682,024

							172,745,442

Beverages – 0.7%
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc.^(b)
	960,000			4.700		02/01/36	934,330
Anheuser-Busch InBev Worldwide, Inc.
	585,000			8.200		01/15/39	734,555


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Beverages – (continued)
Bacardi-Martini BV^(b)(c)
$	6,350,000		5.550	%	02/01/30	$ 6,468,935
Coca-Cola Consolidated, Inc.^(b)
	1,421,000		5.450		06/01/34	1,457,420
Constellation Brands, Inc.^(b)
	50,000		3.600		02/15/28	49,233
	50,000		3.150		08/01/29	47,808
	1,900,000		2.250		08/01/31	1,676,864
JDE Peet’s NV^(b)(c)
	1,650,000		1.375		01/15/27	1,619,129
Keurig Dr. Pepper, Inc.^(b)
	1,968,000		2.250		03/15/31	1,747,702
Pernod Ricard International Finance LLC^(b)(c)
	4,816,000		1.625		04/01/31	4,162,180

						18,898,156

Biotechnology^(b)– 0.3%
Amgen, Inc.
	3,370,000		5.250		03/02/30	3,433,626
	2,168,000		5.250		03/02/33	2,206,374
Royalty Pharma PLC
	2,844,000		5.400		09/02/34	2,866,979

						8,506,979

Building Materials^(b)– 0.4%
Carrier Global Corp.
	3,375,000		2.493		02/15/27	3,337,301
	2,675,000		2.700		02/15/31	2,451,611
	2,309,000		5.900		03/15/34	2,434,841
Cemex SAB de CV
	1,470,000		5.750		06/05/36	1,464,855

						9,688,608

Chemicals^(b)(c)– 0.0%
International Flavors & Fragrances, Inc.
	599,000		1.832		10/15/27	578,418

Commercial Services – 0.7%
Ashtead Capital, Inc.^(b)(c)
	650,000		1.500		08/12/26	646,672
	2,087,000		5.800		04/15/34	2,124,441
Cornell University^(b)
	5,610,000		4.733		06/15/35	5,522,199
DP World Crescent Ltd.^(c)
	2,860,000		5.500		05/08/35	2,864,289
DP World Ltd.
	100,000		6.850	^(c)	07/02/37	108,100
	220,000		5.625		09/25/48	204,655
Global Payments, Inc.^(b)
	3,575,000		5.550		11/15/35	3,463,531
Quanta Services, Inc.^(b)
	2,594,000		5.250		08/09/34	2,623,987

						17,557,874

Computers^(b)– 0.1%
Dell International LLC/EMC Corp.
	200,000		6.200		07/15/30	209,690
	540,000		8.100		07/15/36	642,287

GOLDMAN SACHS CORE FIXED INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Computers^(b)– (continued)
Hewlett Packard Enterprise Co.
$	2,174,000		5.000	%	10/15/34	$ 2,130,889

						2,982,866

Diversified Financial Services – 1.9%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust^(b)
	5,125,000		2.450		10/29/26	5,093,994
	3,472,000		5.375		12/15/31	3,530,573
American Express Co.^(a)(b)
(Secured Overnight Financing Rate + 1.237%)
	4,220,000		4.804		10/24/36	4,092,176
(Secured Overnight Financing Rate + 1.420%)
	4,855,000		5.284		07/26/35	4,906,657
Avolon Holdings Funding Ltd.^(b)(c)
	873,000		5.150		01/15/30	875,942
Capital One Financial Corp.^(a)(b)(Secured Overnight Financing Rate + 2.036%)
	5,140,000		6.183		01/30/36	5,268,037
Compute Financing LLC
	13,650,000		0.000		06/15/34	13,609,548
Nomura Holdings, Inc.
	950,000		2.608		07/14/31	848,265
REC Ltd.^(c)
	200,000		5.625		04/11/28	201,840
Sumisho Air Lease Corp.^(b)
	4,615,000		4.850	^(c)	03/24/31	4,565,896
	3,750,000		5.200		07/15/31	3,766,575
Synchrony Financial^(a)(b)(Secured Overnight Financing Rate + 1.530%)
	3,575,000		4.947		02/25/32	3,483,266

						50,242,769

Electrical^(b)– 0.1%
Alliant Energy Finance LLC^(c)
	225,000		4.250		06/15/28	223,180
Ameren Corp.
	400,000		3.500		01/15/31	379,056
American Electric Power Co., Inc.
	850,000		2.300		03/01/30	781,116
Arizona Public Service Co.
	425,000		2.950		09/15/27	417,214
Ohio Power Co.
	675,000		2.600		04/01/30	626,650
Pacific Gas & Electric Co.
	500,000		3.300		08/01/40	374,565

						2,801,781

Electronics^(b)– 0.1%
Allegion U.S. Holding Co., Inc.
	1,593,000		5.600		05/29/34	1,626,373

Engineering & Construction^(b)– 0.1%
Mexico City Airport Trust
	400,000		4.250		10/31/26	398,700
	440,000		3.875	^(c)	04/30/28	429,220
	200,000		5.500	^(c)	10/31/46	171,500
	420,000		5.500		07/31/47	359,667


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Engineering & Construction^(b)– (continued)
$	340,000		5.500	%^(c)	07/31/47	$ 291,159

						1,650,246

Environmental – 0.0%
Nature Conservancy
	60,000		0.944		07/01/26	60,000
	75,000		1.304		07/01/28	69,998

						129,998

Food & Drug Retailing^(b)– 1.2%
Campbell’s Co.
	7,343,000		5.400		03/21/34	7,239,170
	1,200,000		4.750		03/23/35	1,120,140
J.M. Smucker Co.
	2,498,000		5.900		11/15/28	2,570,717
	1,423,000		6.200		11/15/33	1,517,430
Mars, Inc.^(c)
	5,800,000		4.800		03/01/30	5,817,052
	5,175,000		5.000		03/01/32	5,209,828
	8,975,000		5.200		03/01/35	9,010,182
Sysco Corp.
	225,000		6.600		04/01/40	243,691

						32,728,210

Gas^(b)– 0.0%
NiSource, Inc.
	325,000		3.600		05/01/30	312,016

Hand/Machine Tools^(b)– 0.3%
Regal Rexnord Corp.
	6,578,000		6.300		02/15/30	6,859,933

Healthcare Providers & Services^(b)– 2.9%
Adventist Health System
	540,000		2.952		03/01/29	512,269
	6,970,000		4.742		12/01/30	6,905,325
	1,345,000		5.757		12/01/34	1,370,284
Alcon Finance Corp.^(c)
	4,572,000		3.000		09/23/29	4,337,868
Ascension Health
	3,275,000		4.923		11/15/35	3,234,494
Banner Health
	3,235,000		2.338		01/01/30	2,997,386
Baylor Scott & White Holdings
	1,140,000		1.777		11/15/30	1,011,314
Cigna Group
	3,515,000		5.125		05/15/31	3,571,943
CommonSpirit Health
	2,220,000		4.352		09/01/30	2,170,301
	3,385,000		4.975		09/01/35	3,283,693
	2,385,000		3.910		10/01/50	1,770,727
	2,655,000		6.461		11/01/52	2,849,513
Elevance Health, Inc.
	5,970,000		4.600		09/15/32	5,852,272
HCA, Inc.
	4,625,000		4.500		02/15/27	4,621,948
	1,590,000		3.500		09/01/30	1,507,193
	7,985,000		5.450		04/01/31	8,157,236
	1,610,000		5.900		06/01/53	1,567,802

GOLDMAN SACHS CORE FIXED INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Healthcare Providers & Services^(b)– (continued)
Humana, Inc.
$	785,000		5.950	%	03/15/34	$ 812,569
Laboratory Corp. of America Holdings
	1,719,000		4.800		10/01/34	1,672,828
PeaceHealth Obligated Group
	2,200,000		4.335		11/15/28	2,181,533
Rush System for Health Obligated Group
	1,320,000		3.922		11/15/29	1,289,272
Solventum Corp.
	1,603,000		5.400		03/01/29	1,630,235
	3,040,000		5.450		03/13/31	3,112,200
	5,675,000		5.600		03/23/34	5,806,263
STERIS Irish FinCo UnLtd Co.
	501,000		2.700		03/15/31	455,389
Stryker Corp.
	75,000		1.950		06/15/30	67,904
Sutter Health
	605,000		2.294		08/15/30	550,575
UnitedHealth Group, Inc.
	3,700,000		5.000		04/15/34	3,697,854
	1,750,000		3.050		05/15/41	1,320,270

						78,318,460

Insurance – 0.1%
Arch Capital Group Ltd.
	300,000		7.350		05/01/34	342,363
Chubb INA Holdings LLC
	2,440,000		6.800		11/15/31	2,660,137
Willis North America, Inc.^(b)
	700,000		2.950		09/15/29	662,403

						3,664,903

Internet – 1.5%
Airbnb, Inc.^(b)
	3,555,000		5.250		03/16/36	3,541,740
Alphabet, Inc.^(b)
	11,025,000		4.100		11/15/30	10,849,923
Expedia Group, Inc.^(b)
	1,212,000		4.625		08/01/27	1,212,873
	825,000		3.800		02/15/28	814,630
	89,000		3.250		02/15/30	84,489
	331,000		2.950		03/15/31	304,070
	2,875,000		5.400		02/15/35	2,846,652
Meta Platforms, Inc.^(b)
	4,850,000		4.200		11/15/30	4,773,321
	9,425,000		4.875		11/15/35	9,170,996
Netflix, Inc.
	3,010,000		5.875		11/15/28	3,105,357
	2,604,000		5.375	^(c)	11/15/29	2,670,610
Prosus NV^(b)(c)
EUR	100,000		2.031		08/03/32	102,260
$	230,000		4.027		08/03/50	162,150
	210,000		3.832		02/08/51	140,700

						39,779,771

Investment Companies^(b)– 0.1%
Blackstone Secured Lending Fund
	1,650,000		5.875		11/15/27	1,662,276


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Investment Companies^(b)– (continued)
JAB Holdings BV^(c)
$	500,000		2.200	%	11/23/30	$ 447,465

						2,109,741

Iron/Steel^(c)– 0.0%
POSCO
	260,000		5.750		01/17/28	263,656

Leisure Time^(b)– 0.2%
Royal Caribbean Cruises Ltd.
	4,295,000		5.250		02/27/38	4,155,284

Lodging^(b)– 0.8%
Choice Hotels International, Inc.
	3,593,000		3.700		01/15/31	3,390,930
	1,639,000		5.850		08/01/34	1,664,912
Hyatt Hotels Corp.
	5,295,000		5.500		06/30/34	5,358,646
Las Vegas Sands Corp.
	1,590,000		5.625		06/15/28	1,609,057
	590,000		6.000		06/14/30	606,110
Marriott International, Inc.
	2,100,000		5.000		10/15/27	2,114,301
	5,300,000		2.850		04/15/31	4,869,057
	2,260,000		4.500		05/01/33	2,185,443

						21,798,456

Machinery - Construction & Mining^(b)– 0.2%
Vertiv Holdings Co.
	5,194,000		4.850		03/15/36	5,047,321

Machinery-Diversified^(b)– 0.2%
AGCO Corp.
	1,298,000		5.800		03/21/34	1,322,299
IDEX Corp.
	1,515,000		2.625		06/15/31	1,363,242
Ingersoll Rand, Inc.
	1,270,000		5.700		08/14/33	1,320,940

						4,006,481

Media^(b)– 0.6%
Charter Communications Operating LLC/Charter Communications Operating Capital
	6,675,000		3.750		02/15/28	6,542,768
Comcast Corp.
	100,000		3.750		04/01/40	79,971
Space Exploration Technologies Corp.^(c)
	5,325,000		5.350		07/15/31	5,319,196
	5,125,000		5.875		07/15/36	5,057,145
Time Warner Cable LLC
	275,000		5.875		11/15/40	246,196

						17,245,276

Miscellaneous Manufacturing – 0.0%
GE Capital International Funding Co. Unlimited Co.
	405,000		4.418		11/15/35	386,321
General Electric Co.
	700,000		5.875		01/14/38	744,933

						1,131,254

GOLDMAN SACHS CORE FIXED INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Oil Field Services – 0.1%
Marathon Petroleum Corp.^(b)
$	375,000		3.800	%	04/01/28	$ 370,178
Occidental Petroleum Corp.
	1,034,000		7.875		09/15/31	1,165,649
Reliance Industries Ltd.^(c)
	480,000		2.875		01/12/32	431,942
	250,000		3.750		01/12/62	173,285

						2,141,054

Pharmaceuticals^(b)– 0.4%
Cencora, Inc.
	4,993,000		2.700		03/15/31	4,551,968
Cigna Group
	1,025,000		4.800		08/15/38	970,911
CVS Health Corp.
	5,632,000		4.780		03/25/38	5,279,662

						10,802,541

Pipelines – 0.7%
Abu Dhabi Crude Oil Pipeline LLC^(c)
	230,000		4.600		11/02/47	205,798
Cheniere Energy Partners LP^(b)
	1,185,000		5.950		06/30/33	1,237,389
Columbia Pipelines Operating Co. LLC^(b)(c)
	3,620,000		6.036		11/15/33	3,799,226
Enbridge, Inc.^(b)
	2,300,000		2.500		08/01/33	1,960,244
Energy Transfer LP^(b)
	50,000		4.950		06/15/28	50,271
	375,000		5.300		04/15/47	336,225
Galaxy Pipeline Assets Bidco Ltd.
	200,000		2.625	^(c)	03/31/36	174,714
	2,580,687		2.940		09/30/40	2,144,241
	320,000		3.250	^(c)	09/30/40	252,006
Kinder Morgan, Inc.^(b)
	4,835,000		5.200		06/01/33	4,903,657
MPLX LP^(b)
	275,000		4.500		04/15/38	249,054
	645,000		5.500		02/15/49	594,406
Plains All American Pipeline LP/PAA Finance Corp.^(b)
	875,000		3.800		09/15/30	839,073
Targa Resources Corp.^(b)
	1,010,000		4.200		02/01/33	957,298
Williams Cos., Inc.^(b)
	1,800,000		5.650		03/15/33	1,853,226

						19,556,828

Real Estate Investment Trust^(b)– 0.4%
American Homes 4 Rent LP
	723,000		4.900		02/15/29	725,422
Cousins Properties LP
	4,900,000		5.875		10/01/34	5,017,453
CubeSmart LP
	370,000		2.500		02/15/32	325,966
Host Hotels & Resorts LP
	952,000		2.900		12/15/31	852,183
Invitation Homes Operating Partnership LP
	1,120,000		2.000		08/15/31	967,031


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Real Estate Investment Trust^(b)– (continued)
Realty Income Corp.
$	400,000		3.950	%	08/15/27	$ 397,988
UDR, Inc.
	475,000		2.100		08/01/32	403,527
WP Carey, Inc.
	1,000,000		3.850		07/15/29	977,600
	725,000		2.400		02/01/31	651,492

						10,318,662

Retailing^(b)– 0.1%
AutoNation, Inc.
	500,000		1.950		08/01/28	471,720
	825,000		4.750		06/01/30	818,441
Lowe’s Cos., Inc.
	125,000		1.700		10/15/30	110,579
O’Reilly Automotive, Inc.
	1,690,000		5.100		03/12/36	1,673,996

						3,074,736

Savings & Loans^(a)(b)(c)– 0.0%
Nationwide Building Society (3 mo. USD Term SOFR + 1.855%)
	975,000		3.960		07/18/30	949,494

Semiconductors^(b)– 0.4%
Broadcom, Inc.
	1,156,000		3.419		04/15/33	1,053,578
	425,000		3.137	^(c)	11/15/35	360,485
	156,000		3.187	^(c)	11/15/36	130,460
Intel Corp.
	2,750,000		5.200		02/10/33	2,780,470
	934,000		5.150		02/21/34	934,663
NXP BV/NXP Funding LLC/NXP USA, Inc.
	825,000		3.400		05/01/30	785,829
	3,125,000		2.500		05/11/31	2,804,375
	2,250,000		2.650		02/15/32	1,992,263

						10,842,123

Software^(b)– 2.9%
AppLovin Corp.
	7,790,000		5.500		12/01/34	7,852,164
Constellation Software, Inc.^(c)
	1,366,000		5.461		02/16/34	1,337,915
Electronic Arts, Inc.
	1,990,000		2.950		02/15/51	1,535,723
Fidelity National Information Services, Inc.
	4,745,000		4.800		03/10/31	4,693,849
MSCI, Inc.^(c)
	650,000		4.000		11/15/29	629,506
Oracle Corp.
	1,881,000		2.950		04/01/30	1,731,517
	2,550,000		4.650		05/06/30	2,500,173
	5,625,000		2.875		03/25/31	5,025,937
	3,520,000		5.250		02/03/32	3,468,397
	5,895,000		4.800		09/26/32	5,609,034
	2,211,000		4.900		02/06/33	2,098,792
	3,595,000		5.350		05/04/33	3,491,500
	4,440,000		5.200		09/26/35	4,155,440
	3,250,000		5.700		02/04/36	3,151,232

GOLDMAN SACHS CORE FIXED INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Software^(b)– (continued)
$	350,000		3.600	%	04/01/40	$ 255,245
	1,615,000		5.550		02/06/53	1,301,367
	1,800,000		6.000		08/03/55	1,533,834
	950,000		6.700		02/04/56	894,273
Salesforce, Inc.
	10,640,000		4.900		09/15/31	10,615,209
	9,560,000		5.550		03/15/36	9,532,945
ServiceNow, Inc.
	1,040,000		1.400		09/01/30	911,664
Synopsys, Inc.
	2,177,000		5.000		04/01/32	2,180,853
VMware LLC
	700,000		1.800		08/15/28	662,025
Workday, Inc.
	675,000		3.800		04/01/32	628,641

						75,797,235

Sovereign^(b)(c)– 0.3%
Eagle Funding Luxco SARL
	7,020,000		5.500		08/17/30	7,030,627

Telecommunication Services – 1.4%
AT&T, Inc.^(b)
	2,355,000		4.850		03/01/39	2,190,103
	450,000		5.150		11/15/46	400,572
Beacon Point DC LLC^(b)(c)
	5,985,000		6.129		11/30/42	6,046,526
British Telecommunications Ltd.
	3,265,000		9.625		12/15/30	3,859,263
QTS Fayetteville I Dc1-2 LLC/QTS TRS Fayetteville I DC1-2 LLC^(b)(c)
	11,310,000		5.700		04/15/36	10,750,947
Rogers Communications, Inc.^(b)
	745,000		3.200		03/15/27	738,079
Telefonica Emisiones SA
	425,000		4.665		03/06/38	388,743
T-Mobile USA, Inc.^(b)
	5,163,000		3.750		04/15/27	5,134,758
	533,000		3.875		04/15/30	516,514
	6,025,000		5.200		01/15/33	6,095,733
Verizon Communications, Inc.^(b)
	100,000		1.750		01/20/31	87,817
	1,500,000		2.550		03/21/31	1,361,790

						37,570,845

TOTAL CORPORATE OBLIGATIONS (Cost $736,415,494)						$ 728,399,294



Asset-Backed Securities^(b)– 12.0%
Automotive – 0.1%
Exeter Automobile Receivables Trust Series 2025-1A, Class A3
$	221,073		4.670	%	08/15/28	$ 221,123
Santander Drive Auto Receivables Trust Series 2025-1, Class A3
	2,473,260		4.740		01/16/29	2,476,189

						2,697,312


Principal Amount		Interest Rate			Maturity Date	Value

Asset-Backed Securities^(b)– (continued)
Collateralized Loan Obligations^(c)– 11.1%
Aligned Data Centers Issuer LLC Series 2026-1A, Class A2I
$	3,700,000		5.909	%	06/15/56	$ 3,708,238
ARES LI CLO Ltd. Series 2019-51A, Class A1R2^(a)(3 mo. USD Term SOFR + 1.360%)
	2,930,000		5.033		10/15/37	2,936,300
ARES Loan Funding VI Ltd. Series 2024-ALF6AR, Class A1R^(a)(-1X 3 mo. USD Term SOFR + 1.250%)
	6,540,000		0.000		07/15/39	6,539,967
ARES XLI CLO Ltd. Series 2016-41A, Class A1R3^(a)(3 mo. USD Term SOFR + 1.260%)
	13,475,000		4.875		04/15/39	13,484,042
Arini European CLO X DAC Series 10A, Class A^(a)(-1X 3 mo. EUR EURIBOR + 1.280%)
EUR	14,600,000		0.000		07/15/40	16,681,958
Atlas Senior Loan Fund XIII Series 2019-13A, Class CR^(a)(3 mo. USD Term SOFR + 2.912%)
$	2,100,000		6.575		04/22/31	2,110,032
Balboa Bay Loan Funding Ltd. Series 2020-1A, Class A1RR^(a)(3 mo. USD Term SOFR + 1.290%)
	6,280,000		4.965		10/20/35	6,281,765
Barings CLO Ltd. Series 2023-4A, Class A1R^(a)(3 mo. USD Term SOFR + 1.170%)
	6,025,000		4.845		01/20/39	6,021,409
Carlyle U.S. CLO Ltd. Series 2024-6A, Class A1^(a)(3 mo. USD Term SOFR + 1.340%)
	7,400,000		5.007		10/25/37	7,417,309
CBAM Ltd. Series 2018-5A, Class A1R^(a)(3 mo. USD Term SOFR + 1.340%)
	18,675,000		5.020		10/17/38	18,789,833
Cedar Funding IX CLO Ltd. Series 2018-9A, Class AR^(a)(3 mo. USD Term SOFR + 1.420%)
	3,795,000		5.095		07/20/37	3,802,021
CIFC Funding Ltd. Series 2020-1A, Class A1R2^(a)(3 mo. USD Term SOFR + 1.250%)
	15,110,000		4.888		07/15/39	15,128,223
Diameter Capital CLO 3 Ltd. Series 2022-3A, Class A1R^(a)(3 mo. USD Term SOFR + 1.330%)
	7,125,000		5.003		01/15/38	7,129,859
Diameter Capital CLO 7 Ltd. Series 2024-7AR, Class A1R^(a)(-1X 3 mo. USD Term SOFR + 1.230%)
	6,650,000		0.000		07/20/39	6,649,967
Elmwood CLO 19 Ltd. Series 2022-6A, Class AR2^(a)(3 mo. USD Term SOFR + 1.240%)
	9,000,000		4.920		10/17/38	9,001,116
Elmwood CLO 27 Ltd. Series 2024-3A, Class A1R^(a)(3 mo. USD Term SOFR + 1.240%)
	12,525,000		4.886		04/18/39	12,541,282
Empower CLO Ltd. Series 2024-1A, Class A1R^(a)(3 mo. USD Term SOFR + 1.280%)
	8,150,000		4.934		04/25/37	8,172,103
Halseypoint CLO 7 Ltd. Series 2023-7A, Class A1R^(a)(3 mo. USD Term SOFR + 1.450%)
	13,650,000		5.125		07/20/38	13,679,156
Harvest U.S. CLO Ltd. Series 2024-2A, Class A1^(a)(3 mo. USD Term SOFR + 1.400%)
	3,000,000		5.073		10/15/37	3,003,633

GOLDMAN SACHS CORE FIXED INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Asset-Backed Securities^(b)– (continued)
Collateralized Loan Obligations^(c)– (continued)
Henley CLO XVII DAC Series 17A, Class B^(a)(3 mo. EUR EURIBOR + 1.850%)
EUR	4,400,000		4.143	%	07/25/39	$ 5,034,925
Henley CLO XVII DAC Series 17A, Class A^(a)(3 mo. EUR EURIBOR + 1.280%)
	14,300,000		3.573		07/15/38	16,344,048
Invesco CLO Ltd. Series 2021-1A, Class A1^(a)(3 mo. USD Term SOFR + 1.262%)
$	5,300,000		4.935		04/15/34	5,302,677
KKR CLO 57 Ltd. Series 2025-57A, Class A^(a)(3 mo. USD Term SOFR + 1.400%)
	13,300,000		5.073		07/15/38	13,329,885
Madison Park Funding XXXVII Ltd. Series 2019-37A, Class AR2^(a)(3 mo. USD Term SOFR + 1.530%)
	4,475,000		5.203		04/15/37	4,478,969
Magnetite XLVII Ltd. Series 2024-47A, Class A^(a)(3 mo. USD Term SOFR + 1.330%)
	6,500,000		4.997		01/25/38	6,507,124
OCP CLO Ltd. Series 2017-14A, Class A1R^(a)(3 mo. USD Term SOFR + 1.370%)
	8,775,000		5.045		07/20/37	8,781,502
Octagon 67 Ltd. Series 2023-1A, Class AR^(a)(3 mo. USD Term SOFR + 1.450%)
	9,900,000		5.117		07/25/38	9,930,472
OHA Credit Funding 11 Ltd. Series 2022-11A, Class A2R^(a)(3 mo. USD Term SOFR + 1.520%)
	4,000,000		5.195		07/19/37	4,000,856
Regatta XXVIII Funding Ltd. Series 2024-2AR, Class A1R^(a)(3 mo. USD Term SOFR + 1.230%)
	9,825,000		4.975		07/25/39	9,831,622
Silver Point CLO 15 Ltd. Series 2025-15A, Class A^(a)(3 mo. USD Term SOFR + 1.250%)
	8,700,000		4.918		01/15/39	8,702,662
Sixth Street CLO XVI Ltd. Series 2020-16A, Class A1R2^(a)(3 mo. USD Term SOFR + 1.170%)
	5,400,000		4.842		01/21/39	5,389,200
Sound Point Euro CLO 14 Funding DAC Series 14A, Class B^(a)(3 mo. EUR EURIBOR + 1.600%)
EUR	3,730,000		3.838		04/20/39	4,249,133
Sunnova Hestia I Issuer LLC Series 2023-GRID1, Class 1A
$	360,354		5.750		12/20/50	351,494
Venture 32 CLO Ltd. Series 2018-32A, Class A1^(a)(3 mo. USD Term SOFR + 1.362%)
	435,579		5.037		07/18/31	435,834
Vibrant CLO XVI Ltd. Series 2023-16A, Class A1A2^(a)(3 mo. USD Term SOFR + 1.250%)
	9,200,000		4.923		07/15/36	9,203,110
Wind River CLO Ltd. Series 2021-2A, Class A2R^(a)(3 mo. USD Term SOFR + 1.400%)
	3,050,000		5.075		07/20/34	3,041,545
Wind River CLO Ltd. Series 2021-2A, Class BR^(a)(3 mo. USD Term SOFR + 1.600%)
	2,850,000		5.275		07/20/34	2,850,351
Wind River CLO Ltd. Series 2021-3A, Class A1R^(a)(3 mo. USD Term SOFR + 1.240%)
	5,500,000		4.915		04/20/38	5,500,995


Principal Amount		Interest Rate			Maturity Date	Value

Asset-Backed Securities^(b)– (continued)
Collateralized Loan Obligations^(c)– (continued)
WISE CLO Ltd. Series 2023-2A, Class A1R^(a)(3 mo. USD Term SOFR + 1.100%)
$	8,820,000		4.773	%	04/15/39	$ 8,828,873

						295,173,490

Credit Card – 0.7%
American Express Credit Account Master Trust Series 2025-3, Class A
	7,300,000		4.510		04/15/32	7,315,499
Barclays Dryrock Issuance Trust Series 2025-1, Class A
	5,100,000		3.970		07/15/31	5,054,101
Citibank Credit Card Issuance Trust Series 2025-A2, Class A
	4,875,000		4.490		06/21/32	4,878,224

						17,247,824

Ohio – 0.1%
Louisiana Local Government Environmental Facilities & Community Development Authority, Class A3
	2,270,000		4.275		02/01/36	2,202,773

Student Loan^(a)– 0.0%
AccessLex Institute Series 2004-1, Class A2 (3 mo. USD Term SOFR + 0.472%)
	247,298		4.108		09/26/33	244,757
PHEAA Student Loan Trust Series 2016-1A, Class A^(c)(1 mo. USD Term SOFR + 1.264%)
	640,196		4.892		09/25/65	637,562

						882,319

TOTAL ASSET-BACKED SECURITIES (Cost $318,878,230)						$ 318,203,718



Sovereign Debt Obligations – 0.9%
Euro – 0.1%
Indonesia Government International Bonds^(b)
EUR	2,240,000		4.100	%	03/04/34	$ 2,521,032
Mexico Government International Bonds^(b)
	839,000		1.450		10/25/33	781,542
Romania Government International Bonds^(c)
	150,000		4.625		03/04/33	166,168

						3,468,742

United States Dollar – 0.8%
Hungary Government International Bonds
$	1,700,000		6.125		05/22/28	1,740,375
Israel Government AID Bonds^(f)
	4,700,000		5.500		09/18/33	4,911,594
Israel Government International Bonds^(g)
	200,000		4.500		04/03/20	147,074
Mexico Government International Bonds^(b)
	240,000		3.250		04/16/30	224,448
	1,746,000		3.500		02/12/34	1,488,395
	550,000		6.750		02/09/56	540,100
	1,180,000		3.771		05/24/61	707,528
	600,000		3.750		04/19/71	344,100
Panama Government International Bonds^(b)
	360,000		6.875		01/31/36	392,897

GOLDMAN SACHS CORE FIXED INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Sovereign Debt Obligations – (continued)
United States Dollar – (continued)
$	800,000		6.853	%	03/28/54	$ 862,200
	210,000		4.500		01/19/63	161,595
Peru Government International Bonds^(b)
	10,000		2.780		12/01/60	5,474
	100,000		3.230	^(h)	07/28/21	55,501
Republic of Poland Government International Bonds^(b)
	2,600,000		5.125		09/18/34	2,616,484
Romania Government International Bonds
	770,000		3.000	^(c)	02/27/27	759,412
	2,280,000		5.750	^(c)	07/04/36	2,183,670
	690,000		5.125		06/15/48	562,367
	580,000		4.000		02/14/51	393,803
Serbia International Bonds^(c)
	3,170,000		5.500		05/06/36	3,109,073
State of Israel
	680,000		3.800		05/13/60	459,789

						21,665,879

TOTAL SOVEREIGN DEBT OBLIGATIONS (Cost $26,923,640)						$ 25,134,621



Agency Debentures – 0.9%
Sovereign – 0.9%
Federal Farm Credit Banks Funding Corp.
$	7,050,000		2.850	%	03/28/34	$ 6,278,801
Federal Farm Credit Banks Funding Corp.
	2,500,000		3.500		09/01/32	2,379,400
Federal Farm Credit Banks Funding Corp.
	11,930,000		2.900		04/12/32	11,044,913
Federal Farm Credit Banks Funding Corp.
	3,840,000		3.300		05/19/32	3,624,806

TOTAL AGENCY DEBENTURES (Cost $25,240,222)						$ 23,327,920



Municipal Debt Obligations – 0.5%
Arizona^(b)– 0.0%
Phoenix City AZ Civic Improvement Corp. RB Series 2020
$	40,000		5.000	%	07/01/34	$ 43,280

California^(b)– 0.2%
California Public Finance Authority RB (Taxable) Series 2026 B (Children’s Hospital Los Angeles Obligated Group)
	2,550,000		5.403		11/15/36	2,552,473
California State GO Bonds Build America Taxable Series 2009
	2,600,000		7.550		04/01/39	3,038,669

						5,591,142

Florida^(b)– 0.0%
Florida State Board of Administration Finance Corp. RB Taxable Series A
	595,000		2.154		07/01/30	545,165

Illinois – 0.1%
Illinois Finance Authority RB (Refunding) Series A
	40,000		5.000		10/01/35	45,847


Principal Amount		Interest Rate			Maturity Date	Value

Municipal Debt Obligations – (continued)
Illinois – (continued)
Illinois State GO Bonds Build America Series 2010
$	1,250,055		7.350	%	07/01/35	$ 1,333,449
Illinois State GO Bonds Taxable-Pension Series 2003
	932,941		5.100		06/01/33	942,494
Sales Tax Securitization Corp. RB (Refunding) Series A
	40,000		5.000		01/01/33	44,242

						2,366,032

Maryland – 0.1%
Maryland Economic Development Corp. RB Taxable Series 2024 (Prince George’s County Public Schools Alternative Construction Financing, Package 2 Project)
	3,245,000		4.827		11/30/30	3,280,159

New Jersey^(b)– 0.0%
New Jersey Educational Facilities Authority
	40,000		5.000		03/01/36	45,724

New York – 0.0%
Metropolitan Transportation Authority RB Taxable Series 2020 C2
	210,000		5.175		11/15/49	194,239
New York City NY GO Bonds Series 2008-L, Subseries L-5^(b)
	40,000		5.000		04/01/33	43,593

						237,832

Ohio – 0.1%
American Municipal Power-Ohio, Inc. RB Build America Taxable Series 2010
	1,465,000		6.270		02/15/50	1,504,809

Pennsylvania^(b)– 0.0%
Pennsylvania Higher Educational Facilities Authority RB Series 2019
	40,000		5.000		08/15/30	42,724

TOTAL MUNICIPAL DEBT OBLIGATIONS (Cost $13,290,044)						$ 13,656,867



U.S. Treasury Obligations – 24.6%
U.S. Treasury Bonds
$	6,530,000		4.250	%	05/15/39	$ 6,307,572
	6,740,000		4.375		05/15/40	6,515,684
	75,750,000		4.250		11/15/40	71,867,812
	210,000		3.375		05/15/44	171,216
	5,840,000		5.000		05/15/46	5,885,625
	51,100,000		3.000		02/15/47	38,029,578
	6,740,000		3.125		05/15/48	5,063,425
	6,490,000		3.375		11/15/48	5,075,383
	6,820,000		2.875		05/15/49	4,844,331
	7,580,000		2.375		11/15/49	4,828,697
	7,925,500		4.000		11/15/52	6,780,018
	5,220,000		4.750		11/15/53	5,050,350
U.S. Treasury Inflation-Indexed Bonds
	12,220,429		1.500		02/15/53	9,288,958
U.S. Treasury Notes
	59,493,500		4.375	⁽ⁱ⁾	08/15/26	59,526,036
	24,880,000		0.750		08/31/26	24,755,600
	22,370,000		1.375		08/31/26	22,279,996
	69,740,000		3.750		04/30/27	69,552,029

GOLDMAN SACHS CORE FIXED INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

U.S. Treasury Obligations – (continued)
$	25,100,000		2.625	%	05/31/27	$ 24,767,621
	1,010,000		0.500		06/30/27	974,729
	16,320,000		3.500		04/30/28	16,128,113
	36,750,000		1.250		05/31/28	34,799,092
	1,000,000		4.625		09/30/28	1,009,688
	101,610,000		4.625	⁽ⁱ⁾	04/30/29	102,832,495
	7,010,000		1.500		02/15/30	6,385,672
	3,831,000		3.625		03/31/30	3,756,774
	2,512,700		0.625		05/15/30	2,195,275
	28,300,000		4.125		03/31/31	28,196,086
	27,880,000		4.125		06/30/31	27,781,985
	28,260,000		4.250		06/30/33	28,154,025
	2,490,000		4.375		05/15/34	2,490,778
U.S. Treasury STRIPS Coupon^(j)
	2,540,000		0.000		08/15/30	2,134,328
	2,540,000		0.000		11/15/30	2,110,939
	2,540,000		0.000		08/15/33	1,862,303
	26,090,000		0.000		05/15/35	17,573,246
U.S. Treasury STRIPS Principal^(j)
	12,660,000		0.000		11/15/53	3,234,403

TOTAL U.S. TREASURY OBLIGATIONS (Cost $694,858,186)						$ 652,209,862


Shares		Description				Value

Exchange Traded Funds^(k)– 0.2%
	100,596		Goldman Sachs Corporate Bond ETF			$ 5,089,785
(Cost $5,100,529)


Shares		Dividend Rate				Value

Investment Company^(k)– 0.0%
Goldman Sachs Central Government Fund — Institutional Shares
	25,880		3.703%			$ 25,880
(Cost $25,880)

TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS – 110.5% (Cost $3,005,053,384)						$2,933,231,268


Principal Amount		Interest Rate			Maturity Date	Value

Short-term Investments^(j)– 3.0%
Commercial Paper^(j)– 3.0%
AutoNation, Inc.^(c)
$	21,649,000		0.000	%	07/01/26	$ 21,646,541
Bayer Corp.^(c)
	13,950,000		0.000		10/20/26	13,764,508


Principal Amount		Interest Rate			Maturity Date	Value

Short-term Investments^(j)– (continued)
Commercial Paper^(j)– (continued)
Energy Transfer LP^(c)
$	3,856,000		0.000	%	07/01/26	$ 3,855,585
Evergy Missouri West, Inc.^(c)
	5,083,000		0.000		07/01/26	5,082,453
NTT Finance Americas, Inc.
	22,000,000		0.000		07/23/26	21,945,807
Oracle Corp.^(c)
	4,546,000		0.000		10/02/26	4,493,439
Targa Resources Corp.^(c)
	9,113,000		0.000		07/01/26	9,111,996

TOTAL SHORT-TERM INVESTMENTS (Cost $79,910,404)						$ 79,900,329

TOTAL INVESTMENTS – 113.5% (Cost $3,084,963,788)						$3,013,131,597

LIABILITIES IN EXCESS OF OTHER ASSETS – (13.5)%						(357,351,217)

NET ASSETS – 100.0%						$2,655,780,380



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

(a)		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 June 30, 2026.

(b)		Security with “Call” features with resetting interest rates. Maturity dates disclosed are the final maturity dates.

(c)		Exempt from registration under Rule 144A of the Securities Act of 1933.

(d)		Coupon changes periodically based upon a predetermined schedule. Interest rate disclosed is that which is in effect on June 30, 2026.

(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 $365,229,361 which represents approximately 13.6% of net assets as of June 30, 2026.

(f)		Guaranteed by the United States Government until maturity. Total market value for these securities amounts to $4,911,594, which represents approximately 0.2% of the Fund’s net assets as of June 30, 2026

(g)		Actual maturity date is April 03, 2120.

(h)		Actual maturity date is July 28, 2121.

(i)		All or a portion of security is segregated as collateral for initial margin requirement on futures transactions.

(j)		Issued with a zero coupon. Income is recognized through the accretion of discount.

(k)		Represents an affiliated issuer.

GOLDMAN SACHS CORE FIXED INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS — At June 30, 2026, 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

MS & Co. Int. PLC

USD

4,179,153

JPY

652,158,454

08/05/26

156,500

State Street Bank and Trust

USD

6,949,693

EUR

5,972,430

08/19/26

111,242

TOTAL

267,742

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS WITH UNREALIZED LOSS


Counterparty	Currency Purchased			Currency Sold			Settlement Date		Unrealized Loss

BNP Paribas SA		JPY	623,114,679		USD	3,913,463		08/05/26	$	(69,958	)
JPMorgan Securities, Inc.		USD	21,385,058		EUR	18,700,000		08/19/26		(26,499	)

TOTAL									$	(96,457	)

FORWARD SALES CONTRACTS — At June 30, 2026, 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		07/20/26	$	(25,000,000)	$	(22,180,620)
Government National Mortgage Association		4.500			TBA - 30yr		07/20/26		(31,000,000)		(29,762,164)
Uniform Mortgage-Backed Security		2.000			TBA - 30yr		07/01/26		(14,000,000)		(11,172,657)
Uniform Mortgage-Backed Security		3.000			TBA - 30yr		07/01/26		(4,000,000)		(3,488,438)
Uniform Mortgage-Backed Security		4.500			TBA - 30yr		07/01/26		(29,000,000)		(27,793,553)
Uniform Mortgage-Backed Security		5.000			TBA - 30yr		07/01/26		(73,000,000)		(71,725,354)
Uniform Mortgage-Backed Security		4.000			TBA - 30yr		07/01/26		(27,000,000)		(25,224,961)
Uniform Mortgage-Backed Security		5.500			TBA - 30yr		07/01/26		(5,000,000)		(5,016,601)

(PROCEEDS RECEIVED: $(196,302,266))										$	(196,364,348)

(a)

FUTURES CONTRACTS — At June 30, 2026, 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	309		09/28/26	$	36,564,773	$	164,930
10 Year U.S. Treasury Notes	61		09/21/26		6,703,328		5,603
2 Year U.S. Treasury Notes	1,162		09/30/26		239,526,327		(301,729	)
20 Year U.S. Treasury Bonds	765		09/21/26		86,827,500		1,546,050
30 Year German Euro-Buxl	60		09/08/26		7,624,798		136,671
5 Year U.S. Treasury Notes	2,320		09/30/26		248,348,750		687,887
Euro-Bobl	310		09/08/26		40,868,284		199,997
Euro-Schatz	348		09/08/26		42,132,320		104,591
ICE 3M SONIA Index	270		03/16/27		85,967,387		(369,980	)
ICE 3M SONIA Index	155		09/14/27		49,315,668		146,186
Ultra Long U.S. Treasury Bonds	1,460		09/21/26		169,588,125		4,002,459

Total						$	6,322,665

GOLDMAN SACHS CORE FIXED INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

FUTURES CONTRACTS (continued)


Description	Number of Contracts	Expiration Date		Notional Amount			Unrealized Appreciation/ (Depreciation)

Short position contracts:
3 Month SOFR	(566)		03/16/27	$	(135,783,400	)	$	(69,657	)
5 Year German Euro-Bund	(124)		09/08/26		(18,041,835	)		(154,076	)
Ultra 10-Year U.S. Treasury Notes	(528)		09/21/26		(59,383,500	)		(365,887	)

Total							$	(589,620	)

TOTAL FUTURES CONTRACTS							$	5,733,045

SWAP CONTRACTS — At June 30, 2026, 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)

1.250%^(b)	12M JYOR^(b)	12/15/27	JPY	18,608,610	$	187,431		$	(456,146	)	$	643,577
3.416^(b)	12M SOFR^(b)	04/22/28	$	34,880		207,746			53,788			153,958
2.500^(c)	12M EURO^(c)	06/14/28	EUR	4,750		(6,888	)		13,545			(20,433	)
3.927^(c)	12M SOFR^(c)	06/30/28	$	32,290		52,054			(8,673	)		60,727
12M SOFR^(c)	4.021%^(c)	06/30/28		4,530		(289	)		(172	)		(117	)
12M EURO^(b)	2.000^(b)	09/10/28	EUR	386,720		(1,742,192	)		(631,513	)		(1,110,679	)
2.500^(b)	6M EURO^(d)	09/10/28		386,720		863,628			(498,161	)		1,361,789
2.750^(d)	12M CDOR^(d)	09/16/28	CAD	40		(21	)		(25	)		4
2.500^(d)	12M CDOR^(d)	09/16/28		99,050		285,218			413,424			(128,206	)
2.000^(c)	12M EURO^(c)	09/16/28	EUR	990		9,417			10,712			(1,295	)
3.750^(c)	12M GBP^(c)	09/16/28	GBP	8,320		59,240			70,736			(11,496	)
3.000^(c)	12M SOFR^(c)	09/16/28	$	126,340		2,434,648			2,268,758			165,890
3.250^(c)	12M SOFR^(c)	09/16/28		13,040		189,288			167,286			22,002
3M STIBOR^(c)	2.500^(e)	09/16/28	SEK	519,550		187,307			118,559			68,748
12M SOFR^(c)	3.000^(c)	09/16/28	$	5,750		(110,806	)		(116,900	)		6,094
12M GBP^(c)	3.500^(c)	09/16/28	GBP	95,470		(1,274,087	)		(1,440,600	)		166,513
5.000^(e)	3M AUDOR^(e)	09/16/28	AUD	20,840		(161,193	)		(147,096	)		(14,097	)
4.750^(e)	3M AUDOR^(e)	09/16/28		39,360		(175,376	)		(171,423	)		(3,953	)
6M NIBOR^(c)	5.000^(d)	09/16/28	NOK	319,500		88,841			46,411			42,430
2.250^(c)	6M EURO^(d)	09/16/28	EUR	19,400		200,830			261,226			(60,396	)
2.500^(c)	6M EURO^(d)	09/16/28		12,380		60,108			75,115			(15,007	)
1.250^(c)	12M JYOR^(c)	09/16/29	JPY	4,128,000		331,253			354,829			(23,576	)
12M JYOR^(c)	1.771^(c)	01/26/30		974,670		(28,957	)		(28,816	)		(141	)
3.903^(c)	12M SOFR^(c)	11/30/30	$	75,580		29,325			(26,992	)		56,317
3.979^(c)	12M SOFR^(c)	11/30/30		5,620		(14,277	)		(1,244	)		(13,033	)
2.500^(c)	12M EURO^(c)	04/16/31	EUR	13,060		(25,244	)		109,446			(134,690	)
12M EURO^(c)	2.800^(c)	05/21/31		139,730		789,145			169,855			619,290
3.000^(c)	6M EURO^(d)	05/21/31		139,730		(664,806	)		(66,444	)		(598,362	)
1.500^(c)	12M JYOR^(c)	09/16/31	JPY	31,139,000		4,529,236			4,420,518			108,718
6M EURO^(c)	2.500^(d)	09/16/31	EUR	29,320		(376,662	)		(499,922	)		123,260
12M GBP^(c)	3.750^(c)	09/16/31	GBP	24,800		(494,657	)		(573,652	)		78,995

GOLDMAN SACHS CORE FIXED INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (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 NZDOR^(d)	4.000%^(e)		09/16/31	NZD	87,130	$	653,219		$	302,994		$	350,225
12M SOFR^(c)	3.584^(c)		04/22/32	$	50,900		(716,962	)		(614,000	)		(102,962	)
2.000%^(c)	12M JYOR^(c)		01/11/33	JPY	2,679,619		298,243			(178,411	)		476,654
3.976^(c)	12M SOFR^(c)		04/30/33	$	40,410		(88,017	)		(8,784	)		(79,233	)
2.500^(c)	12M JYOR^(c)		05/22/33	JPY	2,466,000		(9,004	)		(39,461	)		30,457
12M EURO^(c)	2.800^(c)		08/15/35	EUR	15,680		206,362			56,331			150,031
6M EURO^(c)	3.300^(d)		04/21/36		19,080		177,130			(17,831	)		194,961
12M EURO^(c)	3.000^(c)		06/19/36		55,830		151,460			(43,578	)		195,038
3.200^(c)	6M EURO^(d)		06/19/36		55,830		(215,985	)		(20,303	)		(195,682	)
12M CHFOR^(c)	0.750^(c)		09/16/36	CHF	11,740		278,087			102,221			175,866
12M JYOR^(c)	1.750^(c)		09/16/36	JPY	3,917,000		(1,751,225	)		(1,626,488	)		(124,737	)
0.000^(c)	12M CHFOR^(c)		09/16/36	CHF	11,740		—			—			—
4.000^(c)	12M GBP^(c)		09/16/36	GBP	3,750		145,142			189,561			(44,419	)
3.750^(c)	12M SOFR^(c)		09/16/36	$	17,440		403,557			438,743			(35,186	)
6M EURO^(c)	2.750^(d)		09/16/36	EUR	15,480		(272,784	)		(475,671	)		202,887
12M CDOR^(d)	3.000^(d)		09/16/36	CAD	6,950		(66,399	)		(106,850	)		40,451
12M SOFR^(c)	3.750^(c)		09/16/36	$	2,220		(51,370	)		(46,189	)		(5,181	)
4.250^(d)	3M NZDOR^(e)		09/16/36	NZD	6,490		(62,844	)		9,754			(72,598	)
3.000^(c)	3M STIBOR^(e)		09/16/36	SEK	83,610		(169,325	)		(27,977	)		(141,348	)
6M NIBOR^(c)	4.500^(d)		09/16/36	NOK	44,920		84,734			49,777			34,957
6M AUDOR^(d)	5.000^(d)		09/16/36	AUD	7,910		63,957			35,480			28,477
2.750^(c)	6M EURO^(d)		09/16/36	EUR	37,670		663,811			1,032,981			(369,170	)
3.894^(c)	12M SOFR^(c)		04/22/37	$	28,470		358,876			115,191			243,685
4.750^(c)	12M GBP^(c)		01/31/39	GBP	16,750		(534,540	)		(316,246	)		(218,294	)
12M SOFR^(c)	4.629^(c)		04/14/41	$	58,460		124,139			(26,672	)		150,811
12M JYOR^(c)	2.160^(c)		08/02/44	JPY	4,744,149		(1,846,082	)		(2,606,995	)		760,913
3.600^(c)	6M EURO^(d)		04/21/46	EUR	13,450		(165,924	)		(54,274	)		(111,650	)
12M JYOR^(c)	4.500^(c)		05/21/46	JPY	3,101,000		96,986			154,646			(57,660	)
12M JYOR^(c)	2.500^(c)		09/16/46		787,000		(523,107	)		(443,139	)		(79,968	)
3.100^(c)	12M EURO^(c)		08/15/54	EUR	6,729		(179,300	)		(84,230	)		(95,070	)
4.048^(c)	12M SOFR^(c)		04/13/56	$	54,480		(25,120	)		66,565			(91,685	)

TOTAL						$	2,456,975		$	(296,426	)	$	2,753,401

(a)

Represents forward starting interest rate swaps whose effective dates of commencement of accruals and cash flows occur subsequent to June 30, 2026.

(b)

Payments made at maturity.

(c)

Payments made annually.

(d)

Payments made semi-annually.

(e)

Payments made quarterly.

GOLDMAN SACHS CORE FIXED INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

OVER-THE-COUNTER CREDIT DEFAULT SWAP CONTRACTS


Reference Obligation/Index	Financing Rate Received/(Paid) by the Fund^(a)		Credit Spread at June 30, 2026^(b)		Counterparty		Termination Date		Notional Amount (000s)		Value			Upfront Premiums (Received) Paid			Unrealized Appreciation/ (Depreciation)

Protection Sold:
CMBX.NA.AAA.17		0.500%		0.661%		MS & Co. Int. PLC		12/15/56	$	2,900	$	(25,668	)	$	(35,853	)	$	10,185

(a)

Payments made quarterly.

(b)

CENTRALLY CLEARED CREDIT DEFAULT SWAP CONTRACTS


Referenced Obligation/Index	Financing Rate Received/(Paid) by the Fund^(a)		Credit Spread at June 30, 2026^(b)		Termination Date		Notional Amount (000s)		Value		Upfront Premiums (Received) Paid		Unrealized Appreciation/ (Depreciation)

Protection Sold:
CDX.NA.IG Ind 43		1.000%		0.376%		12/20/29	$	90,400	$	1,851,148	$	1,379,673	$	471,475
CDX.NA.IG Ind 44		1.000		0.431		06/20/30		73,900		1,558,145		1,129,119		429,026
CDX.NA.IG Ind 45		1.000		0.468		12/20/30		103,687		2,271,572		1,875,175		396,397
Republic of Chile, 3.240%, 2/06/28		1.000		0.417		06/20/31		5,440		144,650		106,037		38,613
Republic of Peru, 8.750%, 11/21/33		1.000		0.627		06/20/31		5,160		87,827		42,154		45,673
Republic of the Philippines, 9.500%, 02/02/30		1.000		0.630		06/20/31		5,150		86,597		16,537		70,060

TOTAL									$	5,999,939	$	4,548,695	$	1,451,244

(a)

Payments made quarterly.

(b)

PURCHASED AND WRITTEN OPTIONS CONTRACTS — At June 30, 2026, 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
2Y IRS	BNP Paribas SA		2.000%		11/11/2026		8,390,000	EUR	8,390,000	$	2,531	$	126,107	$	(123,576	)
2Y IRS	Citibank NA		1.771		01/24/2028		4,284,999,999	JPY	4,284,999,999		76,373		162,946		(86,573	)

							4,293,389,999			$	78,904	$	289,053	$	(210,149	)

GOLDMAN SACHS CORE FIXED INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (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
2Y IRS	Citibank NA		1.771%		01/24/2028	4,284,999,999	JPY	4,284,999,999		$	203,718		$	162,946		$	40,772
1Y IRS	JPMorgan Securities, Inc.		1.690		06/23/2027	22,930,420,000		22,930,420,000			226,843			260,742			(33,899	)

						27,215,419,999				$	430,561		$	423,688		$	6,873

Total purchased option contracts						31,508,809,998				$	509,465		$	712,741		$	(203,276	)

Written option contracts
Calls
1M IRS	Barclays Bank PLC		4.137		07/08/2026	(6,800,000)	$	(6,800,000	)		(68,188	)		(44,200	)		(23,988	)
1M IRS	Barclays Bank PLC		3.968		07/27/2026	(7,080,000)		(7,080,000	)		(25,613	)		(41,595	)		15,982
1M IRS	Barclays Bank PLC		2.916		07/29/2026	(6,380,000)	EUR	(6,380,000	)		(34,253	)		(35,097	)		844
1M IRS	BNP Paribas SA		3.091		07/06/2026	(6,010,000)		(6,010,000	)		(106,913	)		(40,453	)		(66,460	)
1M IRS	BNP Paribas SA		2.981		07/20/2026	(6,160,000)		(6,160,000	)		(53,029	)		(34,939	)		(18,090	)
2Y IRS	BNP Paribas SA		2.085		11/11/2026	(2,470,000)		(2,470,000	)		(799	)		(126,195	)		125,396
1M IRS	Citibank NA		3.970		08/03/2026	(7,060,000)	$	(7,060,000	)		(31,098	)		(45,996	)		14,898
1M IRS	JPMorgan Securities, Inc.		3.100		07/13/2026	(6,120,000)	EUR	(6,120,000	)		(114,800	)		(40,925	)		(73,875	)
1M IRS	MS & Co. Int. PLC		4.036		07/20/2026	(6,960,000)	$	(6,960,000	)		(37,161	)		(40,577	)		3,416

						(55,040,000)				$	(471,854	)	$	(449,977	)	$	(21,877	)

Puts
1M IRS	Barclays Bank PLC		4.137		07/08/2026	(6,800,000)		(6,800,000	)		(4,195	)		(44,200	)		40,005
1M IRS	Barclays Bank PLC		3.968		07/27/2026	(7,080,000)		(7,080,000	)		(59,264	)		(41,595	)		(17,669	)
1M IRS	Barclays Bank PLC		2.916		07/29/2026	(6,380,000)	EUR	(6,380,000	)		(34,664	)		(35,097	)		433
1M IRS	BNP Paribas SA		3.091		07/06/2026	(6,010,000)		(6,010,000	)		(174	)		(40,453	)		40,279
1M IRS	BNP Paribas SA		2.981		07/20/2026	(6,160,000)		(6,160,000	)		(12,980	)		(34,939	)		21,959
1M IRS	Citibank NA		3.970		08/03/2026	(7,060,000)	$	(7,060,000	)		(64,207	)		(45,996	)		(18,211	)
1M IRS	JPMorgan Securities, Inc.		3.100		07/13/2026	(6,120,000)	EUR	(6,120,000	)		(1,647	)		(40,926	)		39,279
1M IRS	MS & Co. Int. PLC		4.036		07/20/2026	(6,960,000)	$	(6,960,000	)		(30,730	)		(40,576	)		9,846

						(52,570,000)				$	(207,861	)	$	(323,782	)	$	115,921

Total written option contracts						(107,610,000)				$	(679,715	)	$	(773,759	)	$	94,044

TOTAL						31,401,199,998				$	(170,250	)	$	(61,018	)	$	(109,232	)

GOLDMAN SACHS CORE FIXED INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (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
ETF		— Exchange Traded Fund
EURIBOR		— Euro Interbank Offered Rate
GO		— General Obligation
LLC		— Limited Liability Company
LP		— Limited Partnership
MSCI		— Morgan Stanley Capital International
PLC		— Public Limited Company
RB		— Revenue Bond
REMICS		— Real Estate Mortgage Investment Conduits
RFUCC		— Refinitive USD IBOR Consumer Cash Fallbacks 1 year
SOFR		— Secured Overnight Financing Rate
STACR		— Structured Agency Credit Risk
STRIPS		— Separate Trading of Registered Interest and Principal of Securities

Abbreviations:
1M IRS		— 1 Month Interest Rate Swaptions
1Y IRS		— 1 Year Interest Rate Swaptions
2Y IRS		— 2 Year Interest Rate Swaptions
AUDOR		— Australian Dollar Offered Rate
CDOR		— Canadian Dollar Offered Rate
CDX.NA.IG Ind 43		— CDX North America Investment Grade Index 43
CDX.NA.IG Ind 44		— CDX North America Investment Grade Index 44
CDX.NA.IG Ind 45		— CDX North America Investment Grade Index 45
CHFOR		— Swiss Franc Offered Rate
CMBX		— Commercial Mortgage Backed Securities Index
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 DYNAMIC BOND FUND

Schedule of Investments

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – 58.9%
Collateralized Mortgage Obligations – 6.8%
Interest Only – 0.3%
Federal Home Loan Mortgage Corp. REMICS Series 4468, Class SY (-1X 1 mo. USD Term SOFR + 5.986%)
$	2,583,796		2.393	%^(a)(b)	05/15/45	$ 245,536
Federal Home Loan Mortgage Corp. REMICS Series 5012, Class DI
	1,350,482		4.000	^(c)	09/25/50	271,151
Federal National Mortgage Association REMICS Series 2011-100, Class S (-1X 1 mo. USD Term SOFR + 6.336%)
	1,506,605		2.708	^(a)(b)	10/25/41	137,470
Federal National Mortgage Association REMICS Series 2012-88, Class SB (-1X 1 mo. USD Term SOFR + 6.556%)
	1,395,501		2.928	^(a)(b)	07/25/42	113,429
Federal National Mortgage Association REMICS Series 2017-104, Class SB (-1X 1 mo. USD Term SOFR + 6.036%)
	668,916		2.408	^(a)(b)	01/25/48	68,921
Government National Mortgage Association REMICS Series 2010-35, Class DS (-1X 1 mo. USD Term SOFR + 5.566%)
	2,068,900		1.927	^(a)(b)(d)	03/20/40	146,537
Government National Mortgage Association REMICS Series 2013-103, Class DS (-1X 1 mo. USD Term SOFR + 6.036%)
	2,573,310		2.397	^(a)(b)(d)	07/20/43	231,822
Government National Mortgage Association REMICS Series 2013-117, Class PS (-1X 1 mo. USD Term SOFR + 6.036%)
	2,673,254		2.397	^(a)(b)(d)	04/20/43	152,631
Government National Mortgage Association REMICS Series 2014-11, Class NI
	159,670		4.500	^(c)(d)	12/16/42	1,425
Government National Mortgage Association REMICS Series 2014-132, Class SL (-1X 1 mo. USD Term SOFR + 5.986%)
	2,202,550		2.347	^(a)(b)(d)	10/20/43	83,168
Government National Mortgage Association REMICS Series 2014-180, Class PI
	1,851,178		4.000	^(c)(d)	08/20/44	226,483
Government National Mortgage Association REMICS Series 2015-133, Class SA (-1X 1 mo. USD Term SOFR + 5.586%)
	936,777		1.947	^(a)(b)(d)	09/20/45	78,569
Government National Mortgage Association REMICS Series 2015-133, Class SB (-1X 1 mo. USD Term SOFR + 5.586%)
	1,227,015		1.947	^(a)(b)(d)	09/20/45	103,627
Government National Mortgage Association REMICS Series 2015-129, Class IC
	716,412		4.500	^(c)(d)	09/16/45	131,665
Government National Mortgage Association REMICS Series 2015-111, Class SM (-1X 1 mo. USD Term SOFR + 6.086%)
	2,604,578		2.447	^(a)(b)(d)	08/20/45	281,955
Government National Mortgage Association REMICS Series 2015-144, Class QS (-1X 1 mo. USD Term SOFR + 5.586%)
	3,094,054		1.947	^(a)(b)(d)	10/20/45	224,513
Government National Mortgage Association REMICS Series 2015-126, Class LS (-1X 1 mo. USD Term SOFR + 6.086%)
	1,679,243		2.447	^(a)(b)(d)	09/20/45	178,237
Government National Mortgage Association REMICS Series 2016-6, Class S (-1X 1 mo. USD Term SOFR + 5.536%)
	3,832,025		1.897	^(a)(b)(d)	01/20/46	265,187
Government National Mortgage Association REMICS Series 2017-112, Class SJ (-1X 1 mo. USD Term SOFR + 5.546%)
	759,416		1.907	^(a)(b)(d)	07/20/47	65,938


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Interest Only – (continued)
Government National Mortgage Association REMICS Series 2018-7, Class DS (-1X 1 mo. USD Term SOFR + 5.586%)
$	824,294		1.947	%^(a)(b)(d)	01/20/48	$ 73,608
Government National Mortgage Association REMICS Series 2018-67, Class PS (-1X 1 mo. USD Term SOFR + 6.086%)
	1,245,576		2.447	^(a)(b)(d)	05/20/48	136,544
Government National Mortgage Association REMICS Series 2018-124, Class SN (-1X 1 mo. USD Term SOFR + 6.086%)
	1,108,305		2.447	^(a)(b)(d)	09/20/48	121,809
Government National Mortgage Association REMICS Series 2018-122, Class HS (-1X 1 mo. USD Term SOFR + 6.086%)
	523,541		2.447	^(a)(b)(d)	09/20/48	56,756
Government National Mortgage Association REMICS Series 2018-139, Class SQ (-1X 1 mo. USD Term SOFR + 6.036%)
	773,112		2.397	^(a)(b)(d)	10/20/48	81,459
Government National Mortgage Association REMICS Series 2019-6, Class SA (-1X 1 mo. USD Term SOFR + 5.936%)
	308,731		2.297	^(a)(b)(d)	01/20/49	32,106
Government National Mortgage Association REMICS Series 2019-1, Class SN (-1X 1 mo. USD Term SOFR + 5.936%)
	877,843		2.297	^(a)(b)(d)	01/20/49	89,764
Government National Mortgage Association REMICS Series 2019-78, Class SE (-1X 1 mo. USD Term SOFR + 5.986%)
	531,652		2.347	^(a)(b)(d)	06/20/49	54,132
Government National Mortgage Association REMICS Series 2019-151, Class NI
	1,872,293		3.500	^(c)(d)	10/20/49	335,170
Government National Mortgage Association REMICS Series 2020-21, Class SA (-1X 1 mo. USD Term SOFR + 5.936%)
	2,313,466		2.297	^(a)(b)(d)	02/20/50	257,313
Government National Mortgage Association REMICS Series 2020-78, Class DI
	2,592,974		4.000	^(c)(d)	06/20/50	561,313
Government National Mortgage Association REMICS Series 2020- 146, Class IM
	1,002,022		2.500	^(c)(d)	10/20/50	148,267

						4,956,505

Regular Floater^(b)– 1.6%
Federal Home Loan Mortgage Corp. REMICS Series 3827, Class KF (1 mo. USD Term SOFR + 0.484%)
	79,005		4.078		03/15/41	79,045
Federal Home Loan Mortgage Corp. REMICS Series 3231, Class FB (1 mo. USD Term SOFR + 0.464%)
	83,177		4.058		10/15/36	82,646
Federal Home Loan Mortgage Corp. REMICS Series 3314, Class FC (1 mo. USD Term SOFR + 0.514%)
	56,949		4.108		12/15/36	56,510
Federal Home Loan Mortgage Corp. REMICS Series 3371, Class FA (1 mo. USD Term SOFR + 0.714%)
	93,814		4.308	^(d)	09/15/37	93,936
Federal Home Loan Mortgage Corp. REMICS Series 3545, Class FA (1 mo. USD Term SOFR + 0.964%)
	29,267		4.558		06/15/39	29,491
Federal Home Loan Mortgage Corp. REMICS Series 5452, Class DF (1 mo. USD Term SOFR + 1.250%)
	7,236,905		4.878		09/25/54	7,284,469

GOLDMAN SACHS DYNAMIC BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Regular Floater^(b)– (continued)
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2024-DNA3, Class M2 (1 mo. USD Term SOFR + 1.450%)
$	471,641		5.078	%^(d)(e)	10/25/44	$ 471,689
Federal National Mortgage Association REMICS Series 2006-45, Class TF (1 mo. USD Term SOFR + 0.514%)
	171,873		4.142		06/25/36	171,352
Federal National Mortgage Association REMICS Series 2006-76, Class QF (1 mo. USD Term SOFR + 0.514%)
	196,343		4.142		08/25/36	195,754
Federal National Mortgage Association REMICS Series 2006-79, Class PF (1 mo. USD Term SOFR + 0.514%)
	193,100		4.142		08/25/36	192,476
Federal National Mortgage Association REMICS Series 2007-75, Class VF (1 mo. USD Term SOFR + 0.564%)
	68,747		4.192		08/25/37	68,632
Federal National Mortgage Association REMICS Series 2009-84, Class WF (1 mo. USD Term SOFR + 1.214%)
	26,067		4.842		10/25/39	26,558
Federal National Mortgage Association REMICS Series 2024-70, Class FB (1 mo. USD Term SOFR + 1.100%)
	7,737,465		4.728		10/25/54	7,790,431
Federal National Mortgage Association REMICS Series 2025-13, Class FB (1 mo. USD Term SOFR + 1.300%)
	5,971,456		4.928		03/25/55	6,030,234
Government National Mortgage Association REMICS Series 2025- 150, Class FH (1 mo. USD Term SOFR + 1.100%)
	4,573,814		4.709	^(d)	09/20/55	4,613,173

						27,186,396

Sequential Fixed Rate^(d)– 1.3%
BRAVO Residential Funding Trust Series 2025-NQM7, Class A1A
	2,429,771		5.459	^(e)(f)	07/25/65	2,436,078
COLT Mortgage Loan Trust Series 2025-8, Class A1
	4,102,411		5.480	^(e)(f)	08/25/70	4,111,956
Ellington Financial Mortgage Trust Series 2026-NQM4, Class A1A
	5,183,759		5.466	^(e)(f)	04/25/71	5,185,428
JP Morgan Mortgage Trust Series 2025-VIS3, Class A1A
	3,288,878		5.062	^(e)(f)	02/25/66	3,262,566
JP Morgan Mortgage Trust Series 2025-NQM5, Class A1A
	27,280		4.879	^(e)(f)	05/25/66	27,008
RALI Trust Series 2006-QS6, Class 1A13
	249,963		6.000		06/25/36	207,592
RALI Trust Series 2006-QS9, Class 1A11
	425,313		6.500		07/25/36	343,761
RALI Trust Series 2006-QS2, Class 1A9
	158,615		5.500		02/25/36	128,445
Residential Asset Securitization Trust Series 2006-A8, Class 1A1
	653,539		6.000		08/25/36	420,586
RFMSI Trust Series 2007-S9, Class 1A1
	1,269,985		6.000		10/25/37	577,744
Verus Securitization Trust Series 2021-7, Class A1
	4,386,789		2.829	^(e)(f)	10/25/66	3,985,348
Verus Securitization Trust Series 2025-1, Class A1A
	2,785,238		5.620	^(e)(f)	01/25/70	2,795,689

						23,482,201


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Sequential Floating Rate^(b)(d)– 3.6%
Angel Oak Mortgage Trust Series 2021-4, Class A1
$	2,524,230		1.035	%^(e)	01/20/65	$ 2,148,733
Angel Oak Mortgage Trust Series 2021-3, Class A1
	322,864		1.068	^(e)	05/25/66	280,149
Angel Oak Mortgage Trust Series 2021-6, Class A1
	274,919		1.458	^(e)	09/25/66	231,516
Angel Oak Mortgage Trust Series 2020-4, Class A3
	254,257		2.805	^(e)	06/25/65	249,797
Angel Oak Mortgage Trust Series 2020-2, Class M1
	1,054,000		4.500	^(e)	01/26/65	1,002,700
Angel Oak Mortgage Trust Series 2019-6, Class B1
	2,380,000		3.941	^(e)	11/25/59	2,310,932
Banc of America Funding Trust Series 2007-2, Class 2A1
	3,816		4.930		03/25/37	3,754
Countrywide Alternative Loan Trust Series 2007-16CB, Class 4A3 (1 mo. USD Term SOFR + 0.614%)
	1,481,726		4.263		08/25/37	943,690
Countrywide Alternative Loan Trust Series 2005-26CB, Class A1 (1 mo. USD Term SOFR + 0.614%)
	199,497		4.263		07/25/35	129,497
Countrywide Alternative Loan Trust Series 2005-64CB, Class 1A12 (1 mo. USD Term SOFR + 0.914%)
	211,855		4.563		12/25/35	181,018
Countrywide Alternative Loan Trust Series 2007-16CB, Class 1A2 (1 mo. USD Term SOFR + 0.514%)
	218,791		4.163		08/25/37	136,485
CSMC Trust Series 2022-NQM1, Class A1
	1,593,892		3.265	^(e)	11/25/66	1,447,580
CSMC Trust Series 2021-NQM6, Class A3
	1,879,824		1.585	^(e)	07/25/66	1,623,461
CSMC Trust Series 2020-AFC1, Class M1
	700,000		2.841	^(e)	02/25/50	597,255
CSMC Trust Series 2021-NQM7, Class A1
	3,566,421		1.756	^(e)	10/25/66	3,130,034
Ellington Financial Mortgage Trust Series 2022-1, Class A1
	2,737,144		2.206	^(e)	01/25/67	2,421,655
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2020-DNA6, Class B2 (1 mo. USD Term SOFR + 5.650%)
	600,000		9.278	^(e)	12/25/50	687,999
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2025-DNA2, Class A1 (1 mo. USD Term SOFR + 1.100%)
	936,250		4.728	^(e)	05/25/45	939,188
Federal Home Loan Mortgage Corp. STACR Trust Series 2019-HQA2, Class M2 (1 mo. USD Term SOFR + 2.164%)
	264,466		5.792	^(e)	04/25/49	267,585
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2022-R05, Class 2M2 (1 mo. USD Term SOFR + 3.000%)
	275,997		6.628	^(e)	04/25/42	279,294
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2023-R08, Class 1B1 (1 mo. USD Term SOFR + 3.550%)
	2,185,000		7.178	^(e)	10/25/43	2,275,650
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2024-R01, Class 1M2 (1 mo. USD Term SOFR + 1.800%)
	1,350,000		5.428	^(e)	01/25/44	1,359,394

GOLDMAN SACHS DYNAMIC BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Sequential Floating Rate^(b)(d)– (continued)
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2024-R03, Class 2M1 (1 mo. USD Term SOFR + 1.150%)
$	380,515		4.778	%^(e)	03/25/44	$ 380,514
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2024-R04, Class 1M2 (1 mo. USD Term SOFR + 1.650%)
	3,085,473		5.278	^(e)	05/25/44	3,093,658
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2024-R03, Class 2M2 (1 mo. USD Term SOFR + 1.950%)
	900,000		5.578	^(e)	03/25/44	907,113
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2024-R03, Class 2B1 (1 mo. USD Term SOFR + 2.800%)
	2,275,000		6.428	^(e)	03/25/44	2,342,372
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2024-R06, Class 1M2 (1 mo. USD Term SOFR + 1.600%)
	1,481,072		5.228	^(e)	09/25/44	1,483,498
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2024-R06, Class 1B1 (1 mo. USD Term SOFR + 2.050%)
	1,400,000		5.678	^(e)	09/25/44	1,403,622
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2025-R01, Class 1B1 (1 mo. USD Term SOFR + 1.700%)
	2,172,000		5.328	^(e)	01/25/45	2,172,707
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2026-R01, Class 2M2 (1 mo. USD Term SOFR + 1.350%)
	2,550,000		4.978	^(e)	01/25/46	2,545,563
GCAT Trust Series 2020-NQM2, Class M1
	1,625,000		3.589	^(e)	04/25/65	1,498,671
GCAT Trust Series 2021-NQM5, Class A2
	3,474,815		1.417	^(e)	07/25/66	2,910,422
Government National Mortgage Association REMICS Series 2023-70, Class SE (-1X 1 mo. USD Term SOFR + 6.120%)
	2,527,737		2.511	^(a)	05/20/53	157,231
JP Morgan Mortgage Trust Series 2021-LTV2, Class A1
	1,074,064		2.520	^(e)	05/25/52	887,030
JP Morgan Mortgage Trust Series 2022-LTV1, Class A2
	363,615		3.508	^(e)	07/25/52	327,618
JP Morgan Mortgage Trust Series 2023-2, Class A3A
	1,157,533		5.000	^(e)	07/25/53	1,133,116
JP Morgan Mortgage Trust Series 2024-VIS1, Class A1
	1,079,668		5.990	^(e)	07/25/64	1,083,065
JP Morgan Mortgage Trust Series 2024-3, Class A4
	1,729,617		3.000	^(e)	05/25/54	1,559,931
JP Morgan Mortgage Trust Series 2024-VIS1, Class A2
	1,211,246		6.192	^(e)	07/25/64	1,214,942
JP Morgan Mortgage Trust Series 2023-DSC2, Class A1
	523,043		5.250	^(e)	11/25/63	522,553
JP Morgan Mortgage Trust Series 2024-1, Class A4
	276,872		6.000	^(e)	06/25/54	276,990
MFA Trust Series 2020-NQM3, Class B1
	800,000		3.661	^(e)	01/26/65	733,179


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Sequential Floating Rate^(b)(d)– (continued)
Mill City Mortgage Loan Trust Series 2017-2, Class A3
$	183,985		3.250	%^(e)	07/25/59	$ 180,372
OBX Trust Series 2022-NQM1, Class A2
	500,000		3.001	^(e)	11/25/61	394,829
OBX Trust Series 2022-J2, Class A1
	856,008		3.500	^(e)	08/25/52	767,665
OBX Trust Series 2022-NQM1, Class A1
	1,227,280		2.305	^(e)	11/25/61	1,099,983
PRKCM Trust Series 2021-AFC2, Class A1
	1,612,085		2.071	^(e)	11/25/56	1,426,903
RALI Trust Series 2006-QO7, Class 3A2 (1 mo. USD Term SOFR + 0.524%)
	50,553		4.173		09/25/46	50,074
Residential Mortgage Loan Trust Series 2020-2, Class A3
	131,311		2.911	^(e)	05/25/60	128,857
Starwood Mortgage Residential Trust Series 2020-2, Class B1E
	1,875,000		3.000	^(e)	04/25/60	1,839,276
Towd Point Mortgage Trust Series 2020-1, Class A2A
	550,000		3.100	^(e)	01/25/60	502,432
Verus Securitization Trust Series 2021-6, Class A1
	240,720		1.630	^(e)	10/25/66	203,979
Verus Securitization Trust Series 2021-4, Class A1
	3,903,689		0.938	^(e)	07/25/66	3,316,957
Verus Securitization Trust Series 2021-8, Class A1
	605,061		2.824	^(e)	11/25/66	546,376
Verus Securitization Trust Series 2021-7, Class A2
	1,988,192		2.137	^(e)	10/25/66	1,743,339
Verus Securitization Trust Series 2022-1, Class A3
	896,748		3.288	^(e)	01/25/67	829,646
Visio Trust Series 2020-1, Class M1
	500,000		4.450	^(e)	08/25/55	484,605

						62,796,454

TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS						$ 118,421,556

Commercial Mortgage-Backed Securities – 13.6%
Regular Floater^(b)(e)– 0.9%
BX Commercial Mortgage Trust Series 2026-LP3, Class C (1 mo. USD Term SOFR + 1.750%)
$	2,476,527		5.375	%	04/15/43	$ 2,482,705
HLTN Commercial Mortgage Trust Series 2026-DPLO, Class B (1 mo. USD Term SOFR + 2.000%)
	5,000,000		5.625		04/15/41	5,016,358
JW Commercial Mortgage Trust Series 2026-MRCO, Class D (1 mo. USD Term SOFR + 2.450%)
	2,750,000		6.075		06/15/39	2,762,658
TPG Trust Series 2024-WLSC, Class A (1 mo. USD Term SOFR + 2.133%)
	4,425,000		5.758		11/15/29	4,453,664
TPG Trust Series 2024-WLSC, Class B (1 mo. USD Term SOFR + 2.930%)
	1,250,000		6.556		11/15/29	1,270,550

						15,985,935

Sequential Fixed Rate – 2.3%
1211 Avenue of the Americas Trust Series 2015-1211, Class A1A2
	2,300,000		3.901	^(e)	08/10/35	2,223,597

GOLDMAN SACHS DYNAMIC BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Sequential Fixed Rate – (continued)
Bank Series 2021-BN38, Class A5
$	1,050,000		2.521	%^(d)	12/15/64	$ 925,000
Bank Series 2023-BNK45, Class A5
	725,000		5.203	^(d)	02/15/56	731,943
Bank Series 2019-BN18, Class A4
	1,500,000		3.584	^(d)	05/15/62	1,435,056
Bank Series 2025-BNK51, Class A5
	1,500,000		5.290	^(d)	12/25/67	1,521,853
Bank5 Series 2024-5YR11, Class AS
	675,000		6.139	^(d)	11/15/57	691,263
Bank5 Series 2025-5YR19, Class AS
	5,000,000		5.611	^(d)	12/15/58	5,063,991
BBCMS Mortgage Trust Series 2023-C20, Class A3
	1,600,000		5.991	^(d)	07/15/56	1,618,514
BBCMS Mortgage Trust Series 2019-C3, Class C
	865,000		4.178	^(d)	05/15/52	791,086
BBCMS Mortgage Trust Series 2024-5C27, Class A3
	1,375,000		6.014	^(d)	07/15/57	1,414,669
Benchmark Mortgage Trust Series 2022-B33, Class A5
	1,125,000		3.458	^(b)(d)	03/15/55	1,039,494
Benchmark Mortgage Trust Series 2020-B21, Class A5
	1,000,000		1.978	^(d)	12/17/53	884,613
Benchmark Mortgage Trust Series 2021-B24, Class A5
	1,325,000		2.584	^(d)	03/15/54	1,187,823
Benchmark Mortgage Trust Series 2020-B22, Class A5
	1,050,000		1.973	^(d)	01/15/54	926,056
BMO Mortgage Trust Series 2024-5C3, Class D
	1,350,000		4.000	^(d)(e)	02/15/57	1,194,354
BWAY Mortgage Trust Series 2013-1515, Class A2
	1,398,932		3.454	^(d)(e)	03/10/33	1,347,827
Citigroup Commercial Mortgage Trust Series 2017-P8, Class D
	1,000,000		3.000	^(d)(e)	09/15/50	747,154
COMM Mortgage Trust Series 2024-277P, Class A
	2,500,000		6.338	^(e)	08/10/44	2,583,816
DOLP Trust Series 2021-NYC, Class A
	800,000		2.956	^(e)	05/10/41	712,571
JP Morgan Chase Commercial Mortgage Securities Trust Series 2019-OSB, Class B
	1,400,000		3.598	^(d)(e)	06/05/39	1,308,325
JP Morgan Chase Commercial Mortgage Securities Trust Series 2025-NSLB, Class A
	1,900,000		6.234	^(e)	06/05/42	1,950,225
MSWF Commercial Mortgage Trust Series 2023-2, Class A2
	1,251,578		6.890	^(d)	12/15/56	1,287,673
ROCK Trust Series 2024-CNTR, Class A
	3,900,000		5.388	^(e)	11/13/41	3,938,764
ROCK Trust Series 2024-CNTR, Class D
	2,350,000		7.109	^(e)	11/13/41	2,428,976
SLG Office Trust Series 2021-OVA, Class A
	3,000,000		2.585	^(e)	07/15/41	2,670,600

						40,625,243

Sequential Floating Rate – 10.4%
ALA Trust Series 2025-OANA, Class A (1 mo. USD Term SOFR + 1.743%)
	3,450,000		5.369	^(b)(e)	06/15/40	3,462,802
Bank Series 2021-BN37, Class A5
	600,000		2.618	^(b)(d)	11/15/64	532,478


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Sequential Floating Rate – (continued)
Bank Series 2021-BN31, Class AS
$	2,950,000		2.211	%^(b)(d)	02/15/54	$ 2,543,304
Bank Series 2021-BN33, Class AS
	1,470,000		2.792	^(d)	05/15/64	1,297,409
Bank Series 2025-BNK51, Class B
	3,050,000		5.895	^(b)(d)	12/25/67	3,083,306
Bank5 Series 2024-5YR8, Class C
	300,000		7.001	^(b)(d)	08/15/57	307,047
Bank5 Series 2024-5YR9, Class AS
	1,150,000		6.182	^(b)(d)	08/15/57	1,177,915
Bank5 Series 2024-5YR10, Class AS
	500,000		5.637	^(d)	10/15/57	504,368
Bank5 Series 2025-5YR17, Class C
	3,052,000		5.894	^(b)(d)	11/15/58	3,036,251
Bank5 Series 2025-5YR16, Class AS
	3,050,000		5.751	^(b)(d)	08/15/63	3,095,926
Bank5 Series 2026-5YR21, Class C
	1,250,000		6.365	^(b)(d)	04/15/59	1,254,751
Bank5 Series 2026-5YR22, Class A3
	3,850,000		5.713	^(b)(d)	06/15/59	3,970,851
BBCMS Mortgage Trust Series 2018-TALL, Class A (1 mo. USD Term SOFR + 0.919%)
	2,600,000		4.545	^(b)(e)	03/15/37	2,471,130
BBCMS Mortgage Trust Series 2018-TALL, Class B (1 mo. USD Term SOFR + 1.168%)
	500,000		4.794	^(b)(e)	03/15/37	464,835
BBCMS Mortgage Trust Series 2025-5C36, Class AS
	2,550,000		5.835	^(b)(d)	08/15/58	2,601,367
Benchmark Mortgage Trust Series 2022-B32, Class A5
	1,800,000		3.002	^(b)	01/15/55	1,602,549
BFLD Commercial Mortgage Trust Series 2025-5MW, Class A
	3,500,000		4.830	^(b)(e)	10/10/42	3,458,498
BFLD Commercial Mortgage Trust Series 2025-5MW, Class C
	1,950,000		5.633	^(b)(e)	10/10/42	1,941,274
BFLD Commercial Mortgage Trust Series 2025-660F, Class B (1 mo. USD Term SOFR + 1.800%)
	4,000,000		5.425	^(b)(e)	11/15/42	4,014,855
BFLD Commercial Mortgage Trust Series 2025-660F, Class D (1 mo. USD Term SOFR + 2.750%)
	5,000,000		6.375	^(b)(e)	11/15/42	5,016,943
BFLD Trust Series 2025-EWEST, Class B (1 mo. USD Term SOFR + 1.900%)
	2,250,000		5.525	^(b)(e)	06/15/42	2,250,875
BMO Mortgage Trust Series 2022-C2, Class A5
	1,361,000		4.970	^(b)	07/15/54	1,358,769
BPR Trust Series 2024-PMDW, Class A
	850,000		5.358	^(b)(e)	11/05/41	855,321
BSTN Commercial Mortgage Trust Series 2025-1C, Class A
	2,400,000		5.548	^(b)(e)	06/15/44	2,430,760
BX Commercial Mortgage Trust Series 2024-AIRC, Class A (1 mo. USD Term SOFR + 1.691%)
	953,976		5.317	^(b)(e)	08/15/41	957,488
BX Commercial Mortgage Trust Series 2024-VLT5, Class A
	1,000,000		5.591	^(b)(e)	11/13/46	995,143
BX Commercial Mortgage Trust Series 2025-BCAT, Class C (1 mo. USD Term SOFR + 1.900%)
	560,000		5.525	^(b)(e)	08/15/42	561,072

GOLDMAN SACHS DYNAMIC BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Sequential Floating Rate – (continued)
BX Commercial Mortgage Trust Series 2026-CSMO, Class A (1 mo. USD Term SOFR + 1.400%)
$	7,425,000		5.025	%^(b)(e)	02/15/43	$ 7,439,541
BX Commercial Mortgage Trust Series 2026-VLT10, Class A
	2,600,000		5.358	^(b)(e)	07/13/58	2,527,956
BX Commercial Mortgage Trust Series 2024-VLT5, Class B
	2,700,000		5.995	^(b)(e)	11/13/46	2,705,243
BX Commercial Mortgage Trust Series 2026-VLT10, Class C
	4,200,000		6.397	^(b)(e)	07/13/58	4,081,703
BX Trust Series 2024-BIO, Class A (1 mo. USD Term SOFR + 1.642%)
	1,425,000		5.267	^(b)(e)	02/15/41	1,425,662
BX Trust Series 2024-BRVE, Class A (1 mo. USD Term SOFR + 1.841%)
	1,888,899		5.466	^(b)(e)	04/15/41	1,892,434
BX Trust Series 2024-BRVE, Class B (1 mo. USD Term SOFR + 2.540%)
	1,625,888		6.165	^(b)(e)	04/15/41	1,631,974
BX Trust Series 2025-TAIL, Class A (1 mo. USD Term SOFR + 1.400%)
	2,450,000		5.025	^(b)(e)	06/15/35	2,450,882
BX Trust Series 2025-DELC, Class A (1 mo. USD Term SOFR + 1.550%)
	1,750,000		5.175	^(b)(e)	12/15/42	1,752,826
BX Trust Series 2025-ARIA, Class A
	3,700,000		5.199	^(b)(e)	12/13/42	3,701,979
CSAIL Commercial Mortgage Trust Series 2018-CX12, Class AS
	1,750,000		4.463	^(b)(d)	08/15/51	1,717,903
CSTL Commercial Mortgage Trust Series 2024-GATE, Class A
	1,675,000		4.923	^(b)(e)	11/10/41	1,663,621
DBC Mortgage Trust Series 2025-DBC, Class B (1 mo. USD Term SOFR + 1.600%)
	1,950,000		5.226	^(b)(d)(e)	11/15/42	1,951,129
Durst Commercial Mortgage Trust Series 2025-151, Class A
	2,800,000		5.317	^(b)(e)	08/10/42	2,811,126
Durst Commercial Mortgage Trust Series 2025-151, Class B
	5,850,000		5.768	^(b)(e)	08/10/42	5,896,004
Durst Commercial Mortgage Trust Series 2025-151, Class C
	1,250,000		6.019	^(b)(e)	08/10/42	1,265,028
HLTN Commercial Mortgage Trust Series 2026-DPLO, Class A (1 mo. USD Term SOFR + 1.700%)
	4,500,000		5.325	^(b)(e)	04/15/41	4,511,419
Hudson Yards Mortgage Trust Series 2025-SPRL, Class C
	1,070,000		6.151	^(b)(e)	01/13/40	1,091,515
Hudson Yards Mortgage Trust Series 2025-SPRL, Class D
	900,000		6.551	^(b)(e)	01/13/40	919,463
Hudson Yards Mortgage Trust Series 2025-SPRL, Class A
	4,225,000		5.649	^(b)(e)	01/13/40	4,295,026
ILPT Commercial Mortgage Trust Series 2025-LPF2, Class A
	2,900,000		5.468	^(b)(e)	07/13/42	2,912,435
IRV Trust Series 2025-200P, Class A
	3,100,000		5.471	^(b)(d)(e)	03/14/47	3,120,716
IRV Trust Series 2025-200P, Class D
	950,000		6.371	^(b)(d)(e)	03/14/47	960,958
JP Morgan Chase Commercial Mortgage Securities Trust Series 2022-NLP, Class B (1 mo. USD Term SOFR + 1.357%)
	1,150,612		4.982	^(b)(e)	04/15/37	1,134,487


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Sequential Floating Rate – (continued)
JP Morgan Chase Commercial Mortgage Securities Trust Series 2024-OMNI, Class A
$	1,450,000		5.990	%^(b)(e)	10/05/39	$ 1,458,921
JP Morgan Chase Commercial Mortgage Securities Trust Series 2024-OMNI, Class C
	1,150,000		5.990	^(b)(e)	10/05/39	1,147,064
KIND Commercial Mortgage Trust Series 2024-1, Class A (1 mo. USD Term SOFR + 1.890%)
	1,950,000		5.515	^(b)(e)	08/15/41	1,951,493
KRE Commercial Mortgage Trust Series 2025-AIP4, Class B (1 mo. USD Term SOFR + 1.600%)
	4,204,688		5.225	^(b)(e)	03/15/42	4,196,573
LBTY Commercial Mortgage Trust Series 2026-225L, Class D
	4,100,000		5.899	^(b)(e)	02/10/43	4,035,746
LEX Mortgage Trust Series 2024-BBG, Class A
	1,350,000		5.036	^(b)(d)(e)	10/13/33	1,344,411
MAD Commercial Mortgage Trust Series 2025-11MD, Class D
	3,700,000		6.571	^(b)(e)	10/15/42	3,726,933
Manhattan West Mortgage Trust Series 2026-2MW, Class A
	4,400,000		5.499	^(b)(e)	06/10/48	4,431,921
Manhattan West Mortgage Trust Series 2026-2MW, Class B
	1,800,000		5.718	^(b)(e)	06/10/48	1,809,439
Morgan Stanley Capital I Trust Series 2022-L8, Class A5
	550,000		3.917	^(b)(d)	04/15/55	513,172
NY Commercial Mortgage Trust Series 2025-299P, Class B
	1,050,000		6.125	^(b)(e)	02/10/47	1,075,565
NYC Commercial Mortgage Trust Series 2025-300P, Class D
	1,300,000		6.161	^(b)(e)	07/13/42	1,288,545
NYC Commercial Mortgage Trust Series 2025-11X, Class A (1 mo. USD Term SOFR + 1.743%)
	1,550,000		5.368	^(b)(e)	10/15/40	1,556,113
NYC Commercial Mortgage Trust Series 2025-11X, Class C (1 mo. USD Term SOFR + 2.442%)
	2,900,000		6.067	^(b)(e)	10/15/40	2,909,964
NYC Commercial Mortgage Trust Series 2025-11X, Class B (1 mo. USD Term SOFR + 2.093%)
	2,300,000		5.718	^(b)(e)	10/15/40	2,306,823
NYC Commercial Mortgage Trust Series 2026-9W57, Class A
	8,600,000		5.053	^(b)(d)(e)	06/06/40	8,560,415
NYC Commercial Mortgage Trust Series 2026-9W57, Class B
	2,900,000		5.353	^(b)(d)(e)	06/06/40	2,885,799
One New York Plaza Trust Series 2020-1NYP, Class A (1 mo. USD Term SOFR + 1.064%)
	1,557,449		4.691	^(b)(e)	01/15/36	1,510,147
PENN Commercial Mortgage Trust Series 2025-P11, Class A
	2,500,000		5.522	^(b)(e)	08/10/42	2,523,260
PENN Commercial Mortgage Trust Series 2025-P11, Class B
	1,000,000		6.125	^(b)(e)	08/10/42	1,020,192
TEXAS Commercial Mortgage Trust Series 2025-TWR, Class D (1 mo. USD Term SOFR + 3.091%)
	800,000		6.716	^(b)(e)	04/15/42	764,081
VTR Commercial Mortgage Trust Series 2025-STEM, Class A
	2,750,000		5.201	^(b)(e)	10/13/39	2,718,649
VTR Commercial Mortgage Trust Series 2025-STEM, Class C
	1,350,000		6.057	^(b)(e)	10/13/39	1,329,051
WB Commercial Mortgage Trust Series 2024-HQ, Class B
	2,425,000		6.634	^(b)(e)	03/15/40	2,427,394

GOLDMAN SACHS DYNAMIC BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Sequential Floating Rate – (continued)
Wells Fargo Commercial Mortgage Trust Series 2024-1CHI, Class A
$	1,750,000		5.484	%^(b)(e)	07/15/35	$ 1,751,172
Wells Fargo Commercial Mortgage Trust Series 2024-1CHI, Class B
	1,100,000		5.935	^(b)(e)	07/15/35	1,100,348
Wells Fargo Commercial Mortgage Trust Series 2026-1250B, Class B
	1,600,000		5.136	^(b)(e)	03/10/41	1,578,687
WHARF Commercial Mortgage Trust Series 2025-DC, Class A
	1,650,000		5.528	^(b)(e)	07/15/40	1,667,110

						182,697,305

TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES						$ 239,308,483

Federal Agencies – 38.5%
Federal Home Loan Mortgage Corp. – 0.0%
$	2,274		5.000	%	01/01/33	$ 2,286
	180		5.000		03/01/33	181
	2,700		5.000		04/01/33	2,719
	312		5.000		05/01/33	314
	744		5.000		06/01/33	749
	6,394		5.000		07/01/33	6,440
	9,842		5.000		08/01/33	9,910
	1,042		5.000		09/01/33	1,048
	2,484		5.000		10/01/33	2,501
	4,559		5.000		11/01/33	4,592
	1,930		5.000		12/01/33	1,944
	1,891		5.000		01/01/34	1,905
	6,246		5.000		02/01/34	6,290
	3,799		5.000		03/01/34	3,829
	4,596		5.000		04/01/34	4,629
	6,385		5.000		05/01/34	6,432
	113,132		5.000		06/01/34	113,943
	2,439		5.000		11/01/34	2,459
	25,340		5.000		04/01/35	25,519
	7		5.000		11/01/35	7

						197,697

Government National Mortgage Association – 14.9%
	6,039,417		4.500		12/20/48	5,907,165
	2,225,940		5.000		12/20/48	2,238,621
	3,478,797		4.500		01/20/49	3,402,618
	1,417,730		2.500		10/20/51	1,216,405
	1,768,444		2.500		11/20/51	1,516,763
	2,415,572		2.500		12/20/51	2,072,231
	3,000,000		2.500		TBA-30yr^(g)	2,560,766
	8,000,000		2.000		TBA-30yr^(g)	6,553,152
	10,000,000		4.000		TBA-30yr^(g)	9,284,765
	15,000,000		4.500		TBA-30yr^(g)	14,401,047
	8,000,000		5.000		TBA-30yr^(g)	7,886,223
	202,000,000		6.000		TBA-30yr^(g)	205,746,957

						262,786,713

Uniform Mortgage-Backed Security – 23.6%
	10,370		4.500		08/01/37	10,290
	2,291		4.500		04/01/39	2,270
	3,561		4.000		08/01/39	3,441
	1,649		4.000		09/01/39	1,594
	11,481		4.500		10/01/39	11,381


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Uniform Mortgage-Backed Security – (continued)
$	1,596		4.500	%	05/01/41	$ 1,577
	6,685		4.500		06/01/41	6,618
	7,618		4.500		08/01/41	7,524
	1,973		4.500		10/01/41	1,953
	544		4.500		11/01/42	537
	8,822		4.500		12/01/43	8,708
	338,086		4.500		11/01/48	327,938
	61,805		4.500		01/01/49	59,971
	291,723		4.500		06/01/49	282,799
	310,381		4.500		08/01/49	301,166
	93,870		4.500		01/01/50	91,495
	1,936,788		2.500		02/01/51	1,649,707
	19,617,062		2.500		03/01/52	16,508,339
	4,731,667		6.000		01/01/53	4,881,168
	1,459,810		5.500		04/01/53	1,483,752
	2,034,212		6.000		04/01/53	2,109,826
	1,720,537		6.000		12/01/54	1,769,563
	3,000,000		2.000		TBA-30yr^(g)	2,394,141
	19,000,000		2.500		TBA-30yr^(g)	15,871,680
	21,000,000		4.500		TBA-30yr^(g)	20,126,366
	213,000,000		5.500		TBA-30yr^(g)	213,707,224
	40,000,000		6.000		TBA-30yr^(g)	40,862,500
	89,000,000		6.500		TBA-30yr^(g)	92,052,424

						414,535,952

TOTAL FEDERAL AGENCIES						$ 677,520,362

TOTAL MORTGAGE-BACKED OBLIGATIONS (Cost $1,035,304,727)						$1,035,250,401



Corporate Obligations – 26.9%
Advertising^(d)(e)– 0.1%
Neptune Bidco U.S., Inc.
$	2,285,000		9.500	%	02/15/33	$ 2,311,186

Aerospace & Defense^(d)– 0.3%
Boeing Co.
	3,900,000		5.150		05/01/30	3,947,268
TransDigm, Inc. ^(e)
	795,000		6.750		08/15/28	802,966

						4,750,234

Airlines^(d)– 0.6%
Allegiant Travel Co. ^(e)
	3,185,000		7.125		07/01/31	3,223,252
American Airlines, Inc. ^(e)
	915,000		7.250		02/15/28	926,346
Avianca Midco 2 PLC ^(e)
	760,000		9.500		01/28/31	747,365
Azul Secured Finance LLP ^(e)
	2,400,000		9.875		02/15/31	2,310,432
Latam Airlines Group SA
	2,230,000		7.625		01/07/31	2,315,208

						9,522,603

GOLDMAN SACHS DYNAMIC BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Apparel^(d)– 0.2%
Beach Acquisition Bidco LLC
EUR	469,000		5.250	%^(e)	07/15/32	$ 546,136
	1,469,000		5.250		07/15/32	1,710,605
Champ Acquisition Corp.^(e)
$	1,360,000		8.375		12/01/31	1,427,864

						3,684,605

Automotive^(d)(e)– 0.2%
IHO Verwaltungs GmbH^(h)
	575,000		7.375		05/15/33	597,908
Qnity Electronics, Inc.
	895,000		5.750		08/15/32	900,370
	440,000		6.250		08/15/33	447,757
ZF North America Capital, Inc.
	885,000		6.875		04/14/28	903,435

						2,849,470

Banks^(b)(d)– 4.0%
Banco Mercantil del Norte SA
(5 yr. CMT + 4.072%)
	1,040,000		8.375		05/20/31	1,063,088
(5 yr. CMT + 4.643%)
	1,190,000		5.875	^(e)	01/24/27	1,182,682
Banco Santander SA (5 yr. CMT + 2.837%)
	2,000,000		7.250		12/03/35	2,042,040
Bank of America Corp.
(5 yr. CMT + 2.351%)
	4,770,000		6.250		07/26/30	4,825,141
(5 yr. CMT + 2.760%)
	2,565,000		4.375		01/27/27	2,552,175
Bank of New York Mellon Corp. (5 yr. CMT + 2.297%)
	4,715,000		6.300		03/20/30	4,839,665
Barclays PLC
(5 yr. CMT + 5.431%)
	415,000		8.000		03/15/29	435,231
(5 yr. USD Secured Overnight Financing Rate ICE Swap Rate + 3.686%)
	435,000		7.625		03/15/35	453,905
Citigroup, Inc.
(10 yr. CMT + 2.757%)
	4,655,000		7.000		08/15/34	4,854,048
(5 yr. CMT + 3.001%)
	1,430,000		6.625		02/15/31	1,454,467
(5 yr. CMT + 3.209%)
	2,365,000		7.375		05/15/28	2,438,835
(Secured Overnight Financing Rate + 1.887%)
	3,160,000		4.658		05/24/28	3,162,433
Citizens Financial Group, Inc. (5 yr. CMT + 3.215%)
	4,870,000		4.000		10/06/26	4,834,108
Huntington Bancshares, Inc. (5 yr. CMT + 2.653%)
	4,835,000		6.250		10/15/30	4,880,256
JPMorgan Chase & Co. (5 yr. CMT + 2.080%)
	4,800,000		6.100		07/01/31	4,832,112
M&T Bank Corp. (5 yr. CMT + 2.679%)
	4,865,000		3.500		09/01/26	4,829,534
PNC Financial Services Group, Inc. (5 yr. CMT + 2.595%)
	4,870,000		3.400		09/15/26	4,843,556


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Banks^(b)(d)– (continued)
Societe Generale SA (5 yr. USD Swap + 3.929%)
$	224,000		6.750	%	04/06/28	$ 225,709
State Street Corp. (5 yr. CMT + 2.628%)
	4,695,000		6.700		09/15/29	4,859,325
Turkiye Garanti Bankasi AS (5 yr. CMT + 4.090%)
	2,260,000		8.375		02/28/34	2,309,110
U.S. Bancorp (5 yr. CMT + 2.541%)
	4,890,000		3.700		01/15/27	4,841,002
Wells Fargo & Co. , Class A (5 yr. CMT + 2.340%)
	4,800,000		6.125		06/15/31	4,859,328

						70,617,750

Biotechnology^(d)(e)– 0.2%
Genmab AS/Genmab Finance LLC
	1,515,000		6.250		12/15/32	1,543,361
	1,470,000		7.250		12/15/33	1,534,739

						3,078,100

Building Materials^(d)– 0.2%
Builders FirstSource, Inc.^(e)
	1,595,000		6.750		05/15/35	1,625,831
Cemex SAB de CV
	1,500,000		5.750		06/05/36	1,494,750
Standard Building Solutions, Inc.^(e)
	610,000		6.500		08/15/32	614,069

						3,734,650

Chemicals^(d)– 0.7%
Cerdia Finanz GmbH^(e)
	2,399,000		9.375		10/03/31	2,155,645
Chemours Co.^(e)
	342,000		5.750		11/15/28	341,764
	415,000		8.000		01/15/33	420,158
Methanex U.S. Operations, Inc.^(e)
	630,000		6.250		03/15/32	637,913
OCP SA
	640,000		6.750	^(e)	05/02/34	673,183
	1,200,000		7.500		05/02/54	1,300,740
Solstice Advanced Materials, Inc.^(e)
	2,715,000		5.625		09/30/33	2,697,515
Stonepeak Motion Holdco Ltd./Stonepeak Motion Finco LLC^(e)
	4,680,000		6.125		07/15/33	4,686,178

						12,913,096

Commercial Services – 0.9%
ADT Security Corp.^(d)(e)
	1,525,000		4.125		08/01/29	1,461,316
Allied Universal Holdco LLC/Allied Universal Finance Corp. ^(d)(e)
	1,390,000		6.000		06/01/29	1,383,189
Belron U.K. Finance PLC^(d)(e)
	1,070,000		5.750		10/15/29	1,074,965
CompoSecure Holdings LLC^(d)(e)
	4,960,000		5.625		02/01/33	4,840,960
DP World Crescent Ltd.^(e)
	1,530,000		5.500		05/08/35	1,532,294
EquipmentShare.com, Inc.^(d)(e)
	875,000		9.000		05/15/28	893,576

GOLDMAN SACHS DYNAMIC BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Commercial Services – (continued)
Mavis Tire Express Services Topco Corp.^(d)(e)
$	3,840,000		6.500	%	05/15/29	$ 3,825,715
TriNet Group, Inc.^(d)(e)
	525,000		3.500		03/01/29	493,684
United Rentals North America, Inc.^(d)
	424,000		3.875		02/15/31	400,723

						15,906,422

Computers^(d)(e)– 0.2%
Ahead DB Holdings LLC
	1,954,000		6.625		05/01/28	1,954,000
CACI International, Inc.
	765,000		6.375		06/15/33	775,894
Seagate Data Storage Technology Pte. Ltd.
	430,000		8.250		12/15/29	449,715
Virtusa Corp.
	1,260,000		7.125		12/15/28	995,904

						4,175,513

Cosmetics & Personal Care^(d)(e)– 0.1%
Opal Bidco SAS
	2,209,000		6.500		03/31/32	2,253,025

Diversified Financial Services – 3.1%
Ally Financial, Inc.^(b)(d)(5 yr. CMT + 3.148%)
	4,815,000		7.100		08/15/31	4,868,543
Burford Capital Global Finance LLC^(d)(e)
	915,000		8.500		01/15/34	800,689
Capital One Financial Corp.^(b)(d)(5 yr. CMT + 3.157%)
	4,850,000		3.950		09/01/26	4,832,249
Charles Schwab Corp.^(b)(d)(5 yr. CMT + 2.250%)
	4,830,000		6.100		06/01/31	4,829,469
Compute Financing LLC⁽ⁱ⁾
	18,125,000		0.000		06/15/34	18,071,286
Focus Financial Partners LLC^(d)(e)
	1,100,000		6.750		09/15/31	1,110,626
Freedom Mortgage Holdings LLC^(d)(e)
	1,395,000		9.250		02/01/29	1,449,865
goeasy Ltd.^(d)(e)
	1,660,000		6.875		05/15/30	1,477,533
	260,000		7.375		10/01/30	233,925
	1,829,000		6.875		02/15/31	1,608,313
Jane Street Group/JSG Finance, Inc.^(d)(e)
	905,000		6.125		11/01/32	904,421
Midcap Financial Issuer Trust^(d)(e)
	1,176,000		6.500		05/01/28	1,174,330
Navient Corp.^(d)
	615,000		5.500		03/15/29	590,209
	860,000		9.375		07/25/30	873,596
OneMain Finance Corp.^(d)
	645,000		3.875		09/15/28	624,779
	1,055,000		4.000		09/15/30	975,200
PennyMac Financial Services, Inc.^(d)(e)
	2,605,000		6.875		05/15/32	2,549,618
SLM Corp.^(b)(d)(Secured Overnight Financing Rate + 2.710%)
	1,795,000		6.495		05/15/32	1,795,323


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Diversified Financial Services – (continued)
Synchrony Financial^(b)(d)(5 yr. CMT + 3.078%)
$	5,150,000		7.250	%	08/15/31	$ 5,106,328

						53,876,302

Electrical^(d)(e)– 0.5%
California Buyer Ltd./Atlantica Sustainable Infrastructure PLC
	960,000		6.375		02/15/32	962,246
Constellation Energy Generation LLC
	733,000		4.625		02/01/29	728,866
NRG Energy, Inc.
	1,275,000		5.875		05/15/34	1,267,873
	1,830,000		6.125		05/15/36	1,831,921
Talen Energy Supply LLC
	2,660,000		6.250		02/01/34	2,643,455
Vistra Operations Co. LLC
	1,015,000		4.375		05/01/29	997,461

						8,431,822

Electronics^(d)(e)– 0.1%
Sensata Technologies, Inc.
	1,059,000		4.375		02/15/30	1,030,132
TTM Technologies, Inc.
	1,040,000		4.000		03/01/29	1,003,038

						2,033,170

Energy-Alternate Sources^(d)(e)– 0.0%
Greenko Power II Ltd.
	143,500		4.300		12/13/28	137,233

Engineering & Construction^(d)– 0.4%
Brundage-Bone Concrete Pumping Holdings, Inc.^(e)
	2,282,000		7.500		02/01/32	2,367,712
Dycom Industries, Inc.^(e)
	505,000		4.500		04/15/29	494,259
Global Infrastructure Solutions, Inc.^(e)
	1,875,000		5.625		06/01/29	1,874,212
Kingston Airport Revenue Finance Ltd.
	1,538,409		6.750		12/15/36	1,546,886
Mexico City Airport Trust
	1,726,000		5.500		07/31/47	1,478,060

						7,761,129

Entertainment^(d)(e)– 0.2%
Cinemark USA, Inc.
	510,000		7.000		08/01/32	526,274
Light & Wonder International, Inc.
	2,710,000		6.250		10/01/33	2,692,548

						3,218,822

Environmental^(d)(e)– 0.3%
Madison IAQ LLC
	2,640,000		5.875		06/30/29	2,639,578
Waste Pro USA, Inc.
	2,015,000		7.000		02/01/33	2,062,272

						4,701,850

Food & Drug Retailing^(d)– 0.4%
Grupo Nutresa SA
	2,100,000		9.000		05/12/35	2,315,250

GOLDMAN SACHS DYNAMIC BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Food & Drug Retailing^(d)– (continued)
Lamb Weston Holdings, Inc.^(e)
$	1,540,000		4.125	%	01/31/30	$ 1,474,750
Post Holdings, Inc.^(e)
	1,335,000		6.375		03/01/33	1,325,148
U.S. Foods, Inc.^(e)
	1,210,000		6.875		09/15/28	1,236,499
United Natural Foods, Inc.^(e)
	816,000		6.750		10/15/28	815,445

						7,167,092

Healthcare Providers & Services^(d)– 0.6%
Charles River Laboratories International, Inc.^(e)
	1,035,000		3.750		03/15/29	993,352
Encompass Health Corp.
	691,000		4.500		02/01/28	686,315
Global Medical Response, Inc.^(e)
	3,667,000		7.375		10/01/32	3,799,599
LifePoint Health, Inc.^(e)
	1,485,000		5.375		01/15/29	1,425,496
	2,600,000		7.000		05/01/34	2,490,800
Prime Healthcare Services, Inc.^(e)
	790,000		9.375		09/01/29	824,886
Tenet Healthcare Corp.
	414,000		6.125		10/01/28	415,465

						10,635,913

Home Builders^(d)(e)– 0.2%
Installed Building Products, Inc.
	2,324,000		5.625		02/01/34	2,289,210
K Hovnanian Enterprises, Inc.
	1,330,000		8.375		10/01/33	1,367,120

						3,656,330

Home Furnishings^(d)(e)– 0.1%
Whirlpool Corp.
	965,000		7.500		07/01/31	977,169

Housewares^(d)– 0.0%
Newell Brands, Inc.
	235,000		6.375		05/15/30	238,154
	370,000		6.625		05/15/32	374,680

						612,834

Insurance^(d)– 1.2%
APH Somerset Investor 2 LLC/APH2 Somerset Investor 2 LLC/APH3 Somerset Investor 2 LLC^(e)
	1,590,000		7.875		11/01/29	1,610,543
Ardonagh Finco Ltd.
EUR	905,000		6.875		02/15/31	1,038,737
$	565,000		7.750	^(e)	02/15/31	571,452
Ardonagh Group Finance Ltd.^(e)
	1,753,000		8.875		02/15/32	1,703,197
Corebridge Financial, Inc.^(b)(5 yr. CMT + 3.181%)
	4,710,000		6.875		12/01/30	4,886,578
Howden U.K. Refinance PLC/Howden U.K. Refinance 2 PLC/Howden U.S. Refinance LLC^(e)
	5,395,000		8.125		02/15/32	4,856,795


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Insurance^(d)– (continued)
HUB International Ltd.^(e)
$	585,000		7.375	%	01/31/32	$ 595,729
MetLife, Inc.^(b)(5 yr. CMT + 1.817%)
	4,895,000		5.850		03/15/56	4,828,134
Nassau Cos., of New York^(e)
	1,330,000		7.875		07/15/30	1,271,188

						21,362,353

Internet^(d)(e)– 0.6%
Angi Group LLC
	1,021,000		3.875		08/15/28	863,868
Arches Buyer, Inc.
	482,000		6.125		12/01/28	474,500
Gen Digital, Inc.
	933,000		6.750		09/30/27	936,284
	780,000		6.250		04/01/33	768,682
Go Daddy Operating Co. LLC/GD Finance Co., Inc.
	520,000		3.500		03/01/29	489,440
Match Group Holdings II LLC
	984,000		4.625		06/01/28	969,958
Snap, Inc.
	2,295,000		6.875		03/01/33	2,235,766
	1,610,000		6.875		03/15/34	1,558,818
Wayfair LLC
	1,355,000		7.125		05/31/34	1,393,401

						9,690,717

Iron/Steel^(d)(e)– 0.2%
Mineral Resources Ltd.
	790,000		6.000		05/01/32	782,392
	3,335,000		6.250		05/01/34	3,287,777

						4,070,169

Leisure Time^(d)(e)– 0.4%
Acushnet Co.
	1,775,000		5.625		12/01/33	1,768,592
Royal Caribbean Cruises Ltd.
	895,000		5.625		09/30/31	903,869
Viking Cruises Ltd.
	2,680,000		5.875		10/15/33	2,681,528
VOC Escrow Ltd.
	1,700,000		5.000		02/15/28	1,696,498

						7,050,487

Lodging^(d)– 0.5%
Genting New York LLC/GENNY Capital, Inc.^(e)
	2,190,000		7.250		10/01/29	2,253,729
Hilton Domestic Operating Co., Inc.
	1,174,000		4.875		01/15/30	1,170,983
Hilton Grand Vacations Borrower LLC/Hilton Grand Vacations Borrower, Inc.^(e)
	1,263,000		5.000		06/01/29	1,232,524
Las Vegas Sands Corp.
	1,370,000		5.625		06/15/28	1,386,421
	510,000		6.000		06/14/30	523,925
MGM Resorts International
	1,005,000		4.750		10/15/28	998,045

GOLDMAN SACHS DYNAMIC BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Lodging^(d)– (continued)
Travel & Leisure Co. ^(e)
$	525,000		4.500	%	12/01/29	$ 508,021

						8,073,648

Machinery - Construction & Mining^(d)(e)– 0.0%
Terex Corp.
	520,000		6.250		10/15/32	526,599

Media^(d)– 1.0%
CCO Holdings LLC/CCO Holdings Capital Corp. ^(e)
	1,176,000		5.125		05/01/27	1,174,154
	610,000		6.375		09/01/29	609,506
Directv Financing LLC ^(e)
	1,504,000		8.875		02/01/30	1,529,779
Directv Financing LLC/Directv Financing Co-Obligor, Inc. ^(e)
	32,000		5.875		08/15/27	31,966
	1,950,000		9.250		06/01/32	1,980,635
iHeartCommunications, Inc. ^(e)
	177,332		10.875		05/01/30	153,392
McGraw-Hill Education, Inc. ^(e)
	1,345,000		8.000		08/01/29	1,347,703
Nexstar Media, Inc. ^(e)
	3,900,000		6.500		09/15/33	3,901,404
Paramount Global
	1,159,000		5.850		09/01/43	868,879
Sinclair Television Group, Inc. ^(e)
	1,145,000		8.125		02/15/33	1,179,888
Sirius XM Radio LLC ^(e)
	1,525,000		4.000		07/15/28	1,484,923
Space Exploration Technologies Corp. ^(e)
	3,375,000		5.875		07/15/36	3,330,315

						17,592,544

Metal Fabricate & Hardware^(d)(e)– 0.0%
Advanced Drainage Systems, Inc.
	570,000		5.375		03/01/34	558,150

Miscellaneous Manufacturing^(d)(e)– 0.0%
Axon Enterprise, Inc.
	255,000		6.125		03/15/30	260,136
	260,000		6.250		03/15/33	266,614

						526,750

Oil Field Services – 2.0%
Aethon United BR LP/Aethon United Finance Corp. ^(d)(e)
	478,000		7.500		10/01/29	497,388
Archrock Partners LP/Archrock Partners Finance Corp. ^(d)(e)
	620,000		6.625		09/01/32	631,458
Archrock Services LP/Archrock Partners Finance Corp. ^(d)(e)
	3,240,000		6.000		02/01/34	3,218,713
Caturus Energy LLC ^(d)(e)
	980,000		7.125		05/15/31	969,504
Chord Energy Corp. ^(d)(e)
	2,000,000		6.750		03/15/33	2,033,260
DNO ASA ^(d)
	2,270,000		8.500		03/27/30	2,350,290
Ecopetrol SA ^(d)
	15,000		7.750		02/01/32	15,703


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Oil Field Services – (continued)
Kodiak Gas Services LLC ^(d)(e)
$	1,380,000		5.875	%	04/01/31	$ 1,382,884
Kraken Oil & Gas Partners LLC ^(d)(e)
	1,275,000		7.125		05/15/31	1,247,128
Matador Resources Co. ^(d)(e)
	696,000		6.250		04/15/33	693,272
	5,830,000		6.000		04/15/34	5,681,685
Murphy Oil Corp. ^(d)
	712,000		6.000		10/01/32	708,896
Nabors Industries, Inc. ^(d)(e)
	660,000		9.125		01/31/30	689,944
Noble Finance II LLC ^(d)(e)
	629,000		8.000		04/15/30	651,644
	2,160,000		6.250		06/15/34	2,116,714
Northern Oil & Gas, Inc. ^(d)(e)
	2,115,000		7.875		10/15/33	2,101,020
Petroleos Mexicanos
	110,000		6.500		01/23/29	112,281
	1,050,000		8.750	^(d)	06/02/29	1,122,240
	1,060,000		6.840	^(d)	01/23/30	1,088,620
	320,000		5.950	^(d)	01/28/31	316,512
	60,000		6.700	^(d)	02/16/32	60,451
SM Energy Co. ^(d)(e)
	330,000		6.750		08/01/29	335,933
	530,000		7.000		08/01/32	534,791
Sunoco LP/Sunoco Finance Corp. ^(d)
	895,000		7.000	^(e)	09/15/28	913,911
	495,000		4.500		05/15/29	483,867
Tidewater, Inc. ^(d)(e)
	2,540,000		9.125		07/15/30	2,718,867
Transocean International Ltd. ^(d)(e)
	295,000		8.250		05/15/29	304,626
	300,000		8.500		05/15/31	311,343
USA Compression Partners LP/USA Compression Finance Corp. ^(d)(e)
	880,000		7.125		03/15/29	901,560
Weatherford International Ltd. ^(d)(e)
	1,340,000		6.750		10/15/33	1,367,215

						35,561,720

Packaging^(d)– 0.1%
ARD Finance SA ^(h)(PIK 5.750%, Cash 5.000%)
EUR	249,939		5.000		06/30/27	2,067
Crown Americas LLC
$	2,058,000		5.250		04/01/30	2,063,701

						2,065,768

Pharmaceuticals^(d)(e)– 0.3%
Amneal Pharmaceuticals LLC
	2,600,000		6.875		08/01/32	2,699,710
Jazz Securities DAC
	990,000		4.375		01/15/29	969,458
Organon & Co./Organon Foreign Debt Co-Issuer BV
	985,000		4.125		04/30/28	972,569

						4,641,737

Pipelines – 1.9%
Antero Midstream Partners LP/Antero Midstream Finance Corp. ^(d)(e)
	480,000		5.375		06/15/29	478,714

GOLDMAN SACHS DYNAMIC BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Pipelines – (continued)
Buckeye Partners LP^(d)(e)
$	1,070,000		6.875	%	07/01/29	$ 1,093,401
CQP Holdco LP/BIP-V Chinook Holdco LLC^(d)(e)
	6,281,000		5.500		06/15/31	6,160,091
Delek Logistics Partners LP/Delek Logistics Finance Corp.^(d)(e)
	2,253,000		8.625		03/15/29	2,342,421
Esentia Energy Development SAB de CV^(d)(e)
	2,740,000		6.125		07/30/33	2,735,342
	680,000		6.500		07/30/38	668,865
Excelerate Energy LP^(d)(e)
	1,275,000		8.000		05/15/30	1,344,997
Galaxy Pipeline Assets Bidco Ltd.
	240,000		2.625	^(e)	03/31/36	209,657
	1,663,864		2.940		09/30/40	1,382,471
Genesis Energy LP/Genesis Energy Finance Corp.^(d)
	910,000		7.875		05/15/32	939,821
	2,970,000		6.750		03/15/34	2,947,458
Prairie Acquiror LP^(d)(e)
	535,000		9.000		08/01/29	555,961
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.^(d)(e)
	710,000		7.375		02/15/29	728,233
TransMontaigne Partners LLC^(d)(e)
	3,756,000		8.500		06/15/30	3,826,275
Venture Global Calcasieu Pass LLC^(d)(e)
	1,610,000		6.000		05/01/36	1,627,050
Venture Global LNG, Inc.^(d)(e)
	1,310,000		9.500		02/01/29	1,411,721
	2,800,000		6.375		12/15/34	2,751,420
	1,540,000		6.625		06/15/36	1,517,932
Venture Global Plaquemines LNG LLC^(d)(e)
	1,280,000		6.750		01/15/36	1,356,787

						34,078,617

Real Estate^(d)(e)– 0.2%
Kennedy-Wilson, Inc.
	825,000		7.000		06/01/31	844,280
	2,271,000		7.250		06/01/33	2,317,102

						3,161,382

Real Estate Investment Trust^(d)– 0.9%
Blackstone Mortgage Trust, Inc.^(e)
	8,145,000		6.250		06/01/31	7,866,604
Iron Mountain, Inc.^(e)
	1,460,000		7.000		02/15/29	1,488,032
	4,690,000		6.250		01/15/35	4,707,634
MPT Operating Partnership LP/MPT Finance Corp.
	903,000		4.625		08/01/29	725,561
RHP Hotel Properties LP/RHP Finance Corp.^(e)
	875,000		5.750		03/15/34	865,664

						15,653,495

Retailing^(d)(e)– 1.0%
Academy Ltd.
	2,005,000		5.875		05/15/31	2,004,499
Asbury Automotive Group, Inc.
	130,000		4.625		11/15/29	126,333
Cougar JV Subsidiary LLC
	1,114,000		8.000		05/15/32	1,168,252


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Retailing^(d)(e)– (continued)
FirstCash, Inc.
$	2,165,000		6.875	%	03/01/32	$ 2,224,234
	1,460,000		6.125		05/01/34	1,452,087
LCM Investments Holdings II LLC
	1,273,000		4.875		05/01/29	1,240,742
Lithia Motors, Inc.
	520,000		3.875		06/01/29	498,186
Michaels Cos., Inc.
	3,395,000		8.500		03/15/33	3,360,846
	2,014,000		11.000		03/15/34	1,971,605
QXO Building Products, Inc.
	2,595,000		6.500		07/15/31	2,644,357
Sonic Automotive, Inc.
	1,411,000		4.625		11/15/29	1,378,858

						18,069,999

Semiconductors^(d)(e)– 0.0%
Entegris, Inc.
	470,000		5.950		06/15/30	474,427

Software^(d)– 0.8%
Fair Isaac Corp.^(e)
	1,632,000		6.000		05/15/33	1,606,965
	2,175,000		6.250		09/15/34	2,141,723
OAK-Eagle Acquireco, Inc.^(e)
	465,000		7.250		07/01/33	486,850
Oracle Corp.
	3,685,000		5.350		05/04/33	3,578,909
	4,000,000		5.700		02/04/36	3,878,440
	1,560,000		6.700		02/04/56	1,468,490
Twilio, Inc.
	525,000		3.625		03/15/29	506,210

						13,667,587

Sovereign^(d)(e)– 0.2%
Eagle Funding Luxco SARL
	3,300,000		5.500		08/17/30	3,304,996

Telecommunication Services^(d)– 1.7%
APLD ComputeCo LLC^(e)
	1,840,000		9.250		12/15/30	1,985,158
Black Pearl Compute LLC^(e)
	3,575,000		6.125		02/15/31	3,627,910
Core Scientific Finance I LLC^(e)
	3,120,000		7.750		05/15/31	3,163,243
Digicel International Finance Ltd./Difl U.S. LLC
	1,510,000		8.625		08/01/32	1,556,244
ELK Grove Village Property LLC^(e)
	4,353,000		7.500		06/15/31	4,380,032
Level 3 Financing, Inc.^(e)
	2,665,000		7.000		03/31/34	2,747,562
	299,000		7.500		02/15/37	307,055
Meridian Arc Holdco LLC^(e)
	4,380,000		6.250		04/30/31	4,387,928
PR RNO Property Owner 1 LLC^(e)
	4,340,000		6.500		05/01/31	4,334,141

GOLDMAN SACHS DYNAMIC BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Telecommunication Services^(d)– (continued)
SV RNO Property Owner 1 LLC^(e)
$	3,305,000		5.875	%	03/01/31	$ 3,258,333

						29,747,606

Transportation^(d)(e)– 0.2%
Beacon Mobility Corp.
	2,610,000		7.250		08/01/30	2,708,710
Rand Parent LLC
	725,000		8.500		02/15/30	750,498

						3,459,208

Trucking & Leasing^(d)(e)– 0.1%
FTAI Aviation Investors LLC
	1,060,000		5.500		05/01/28	1,058,304

TOTAL CORPORATE OBLIGATIONS (Cost $474,980,892)						$ 473,402,583



Asset-Backed Securities – 21.1%
Automotive^(d)– 0.4%
Exeter Automobile Receivables Trust Series 2025-1A, Class A3
$	77,570		4.670	%	08/15/28	$ 77,587
Exeter Automobile Receivables Trust Series 2025-3A, Class A3
	1,859,187		4.780		07/16/29	1,862,296
GM Financial Revolving Receivables Trust Series 2024-1, Class A^(e)
	1,550,000		4.980		12/11/36	1,568,502
Santander Drive Auto Receivables Trust Series 2025-1, Class A3
	877,215		4.740		01/16/29	878,254
Tesla Auto Lease Trust Series 2024-A, Class A3^(e)
	36,043		5.300		06/21/27	36,065
Toyota Auto Receivables Owner Trust Series 2023-B, Class A3
	718,136		4.710		02/15/28	719,207
Westlake Automobile Receivables Trust Series 2025-2A, Class A2A^(e)
	1,134,428		4.660		09/15/28	1,135,696

						6,277,607

Collateralized Loan Obligations – 20.1%
1988 CLO 5 Ltd. Series 2024-5A, Class D1^(b)(d)(e)(3 mo. USD Term SOFR + 3.300%)
	1,900,000		6.973		07/15/37	1,900,198
1988 CLO 6 Ltd. Series 2025-6A, Class E^(b)(d)(e)(3 mo. USD Term SOFR + 4.900%)
	2,100,000		8.573		04/15/38	2,035,784
AGL CLO 42 Ltd. Series 2025-42A, Class A1^(b)(d)(e)(3 mo. USD Term SOFR + 1.300%)
	6,175,000		4.964		07/22/38	6,182,324
Aligned Data Centers Issuer LLC Series 2026-1A, Class A2I^(d)(e)
	2,800,000		5.909		06/15/56	2,806,234
AMMC CLO 32 Ltd. Series 2025-32A, Class A1^(b)(d)(e)(3 mo. USD Term SOFR + 1.360%)
	4,825,000		5.040		10/17/38	4,838,655
ARES LI CLO Ltd. Series 2019-51A, Class A1R2^(b)(d)(e)(3 mo. USD Term SOFR + 1.360%)
	2,590,000		5.033		10/15/37	2,595,569
ARES Loan Funding VI Ltd. Series 2024-ALF6AR, Class A1R^(b)(-1X 3 mo. USD Term SOFR + 1.250%)
	4,320,000		0.000		07/15/39	4,320,000


Principal Amount		Interest Rate			Maturity Date	Value

Asset-Backed Securities – (continued)
Collateralized Loan Obligations – (continued)
ARES XLI CLO Ltd. Series 2016-41A, Class A1R3^(b)(d)(e)(3 mo. USD Term SOFR + 1.260%)
$	8,900,000		4.875	%	04/15/39	$ 8,905,972
Arini European CLO VII DAC Series 7A, Class B^(b)(d)(e)(3 mo. EUR EURIBOR + 1.800%)
EUR	2,100,000		3.895		01/15/39	2,404,655
Arini European CLO VII DAC Series 7A, Class D^(b)(d)(e)(3 mo. EUR EURIBOR + 2.850%)
	2,300,000		4.945		01/15/39	2,631,488
Arini European CLO X DAC Series 10A, Class C^(b)(d)(e)(-1X 3 mo. EUR EURIBOR + 2.200%)
	7,119,000		0.000		07/15/40	8,171,073
Arini European CLO X DAC Series 10A, Class D^(b)(d)(e)(-1X 3 mo. EUR EURIBOR + 3.100%)
	2,000,000		0.000		07/15/40	2,290,937
Bain Capital Credit CLO Ltd. Series 2025-5A, Class E^(b)(d)(e)(3 mo. USD Term SOFR + 5.000%)
$	1,600,000		8.625		01/19/39	1,569,701
Bain Capital Credit CLO Ltd. Series 2023-1A, Class A1R^(b)(d)(e)(3 mo. USD Term SOFR + 1.400%)
	5,875,000		5.080		07/16/38	5,887,020
Bain Capital Credit CLO Ltd. Series 2026-2A, Class D1^(b)(d)(e)(3 mo. USD Term SOFR + 3.250%)
	5,000,000		6.910		04/26/39	5,058,495
Bain Capital Credit CLO Ltd. Series 2026-3A, Class C^(b)(d)(e)(3 mo. USD Term SOFR + 1.650%)
	5,770,000		5.395		07/24/39	5,769,804
BBAM U.S. CLO V Ltd. Series 2025-5A, Class A1^(b)(d)(e)(3 mo. USD Term SOFR + 1.360%)
	6,025,000		5.027		07/25/38	6,028,663
BBAM U.S. CLO V Ltd. Series 2025-5A, Class B^(b)(d)(e)(3 mo. USD Term SOFR + 1.800%)
	4,150,000		5.467		07/25/38	4,164,164
Benefit Street Partners CLO XXVIII Ltd. Series 2022-28A, Class AR^(b)(d)(e)(3 mo. USD Term SOFR + 1.350%)
	4,000,000		5.025		10/20/37	4,006,856
Birch Grove CLO 7 Ltd. Series 2023-7A, Class A1R^(b)(d)(e)(3 mo. USD Term SOFR + 1.260%)
	8,250,000		4.935		10/20/38	8,252,269
Birch Grove CLO 8 Ltd. Series 2024-8A, Class A1R^(b)(d)(e)(3 mo. USD Term SOFR + 1.290%)
	7,600,000		4.965		04/20/39	7,604,294
BlackRock European CLO XII DAC Series 12A, Class BR^(b)(d)(e)(3 mo. EUR EURIBOR + 2.000%)
EUR	1,500,000		4.165		01/25/38	1,721,259
BlueMountain CLO XXVI Ltd. Series 2019-26AR, Class CR2^(b)(d)(e)(3 mo. USD Term SOFR + 1.850%)
$	2,890,000		5.488		10/20/34	2,889,991
Bridgepoint CLO 2 DAC Series 2X, Class D^(b)(d)(3 mo. EUR EURIBOR + 3.000%)
EUR	800,000		5.204		04/15/35	917,757
Captree Park CLO Ltd. Series 2024-1A, Class E^(b)(d)(e)(3 mo. USD Term SOFR + 6.000%)
$	625,000		9.675		07/20/37	595,859
Carlyle U.S. CLO Ltd. Series 2024-6A, Class A1^(b)(d)(e)(3 mo. USD Term SOFR + 1.340%)
	4,175,000		5.007		10/25/37	4,184,765

GOLDMAN SACHS DYNAMIC BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Asset-Backed Securities – (continued)
Collateralized Loan Obligations – (continued)
CBAM Ltd. Series 2018-5A, Class A1R^(b)(d)(e) (3 mo. USD Term SOFR + 1.340%)
$	9,225,000		5.020	%	10/17/38	$ 9,281,725
CBAMR Ltd. Series 2021-14A, Class A1R^(b)(d)(e) (3 mo. USD Term SOFR + 1.280%)
	5,230,000		4.955		10/20/38	5,232,134
CBAMR Ltd. Series 2019-9A, Class DR^(b)(d)(e) (3 mo. USD Term SOFR + 4.150%)
	2,425,000		7.823		07/15/37	2,428,625
Cedar Funding IV CLO Ltd. Series 2014-4A, Class AR3^(b)(d)(e) (3 mo. USD Term SOFR + 1.340%)
	5,200,000		5.006		01/23/38	5,210,400
CIFC Funding Ltd. Series 2020-4A, Class A1R^(b)(d)(e) (3 mo. USD Term SOFR + 1.300%)
	4,250,000		4.973		01/15/40	4,257,909
CIFC Funding Ltd. Series 2020-1A, Class A1R2^(b)(d)(e) (3 mo. USD Term SOFR + 1.250%)
	5,570,000		4.888		07/15/39	5,576,717
CIFC Funding Ltd. Series 2022-1AR, Class A1R^(b)(d)(e) (-1X 3 mo. USD Term SOFR + 1.220%)
	5,950,000		0.000		07/17/39	5,949,970
CVC Cordatus Loan Fund III DAC Series 3A, Class B1R3^(b)(d)(e)(3 mo. EUR EURIBOR + 1.650%)
EUR	1,600,000		3.845		05/26/38	1,828,407
CVC Cordatus Loan Fund XXXIV DAC Series 34A, Class B^(b)(d)(e) (3 mo. EUR EURIBOR + 1.700%)
	1,800,000		3.938		04/20/38	2,049,792
Diameter Capital CLO 7 Ltd. Series 2024-7AR, Class A1R(b) (-1X 3 mo. USD Term SOFR + 1.230%)
$	4,800,000		0.000		07/20/39	4,800,000
Dryden 108 CLO Ltd. Series 2022-108A, Class A1R(b)(d)(e) (3 mo. USD Term SOFR + 1.360%)
	9,394,000		5.035		07/18/37	9,394,000
Elmwood CLO 21 Ltd. Series 2022-8A, Class D1R2^(b)(d)(e) (3 mo. USD Term SOFR + 2.600%)
	3,600,000		6.273		10/15/38	3,610,577
Elmwood CLO 27 Ltd. Series 2024-3A, Class A1R^(b)(d)(e) (3 mo. USD Term SOFR + 1.240%)
	8,700,000		4.886		04/18/39	8,711,310
Elmwood CLO 35 Ltd. Series 2024-11A, Class A^(b)(d)(e) (3 mo. USD Term SOFR + 1.340%)
	6,650,000		5.015		10/18/37	6,657,069
Elmwood CLO X Ltd. Series 2021-3A, Class AR2^(b)(d)(e) (3 mo. USD Term SOFR + 1.300%)
	6,625,000		4.975		07/20/38	6,642,821
GoldenTree Loan Management U.S. CLO 30 Ltd. Series 2026-30A, Class E^(b)(d)(e) (3 mo. USD Term SOFR + 4.950%)
	3,340,000		8.728		07/20/39	3,340,000
GoldenTree Loan Management U.S. CLO Ltd. Series 2026-29A, Class D^(b)(d)(e) (3 mo. USD Term SOFR + 2.950%)
	6,400,000		6.589		04/20/39	6,399,200
Halsey Point CLO I Ltd. Series 2019-1A, Class AR^(b)(d)(e) (3 mo. USD Term SOFR + 1.450%)
	5,000,000		5.125		10/20/37	5,007,920
HalseyPoint CLO II Ltd. Series 2020-2A, Class D1R^(b)(d)(e) (3 mo. USD Term SOFR + 3.600%)
	1,425,000		7.275		07/20/37	1,411,311


Principal Amount		Interest Rate			Maturity Date	Value

Asset-Backed Securities – (continued)
Collateralized Loan Obligations – (continued)
Harvest CLO XXXVII DAC Series 37A, Class B^(b)(d)(e) (3 mo. EUR EURIBOR + 1.850%)
EUR	1,900,000		3.956	%	01/15/39	$ 2,176,274
Henley CLO XVII DAC Series 17A, Class C^(b)(d)(e) (3 mo. EUR EURIBOR + 2.200%)
	9,500,000		4.493		07/25/39	10,910,167
Henley CLO XVII DAC Series 17A, Class D^(b)(d)(e) (3 mo. EUR EURIBOR + 3.050%)
	2,200,000		5.343		07/25/39	2,517,465
Kennedy Lewis CLO 15 Ltd. Series 2024-15A, Class A^(b)(d)(e) (3 mo. USD Term SOFR + 1.570%)
$	2,000,000		5.245		07/20/37	2,002,710
KKR CLO 32 Ltd. Series 32AR, Class CR2^(b)(d)(e) (3 mo. USD Term SOFR + 1.850%)
	4,000,000		5.488		07/15/39	4,000,000
KKR CLO 50 Ltd. Series 2024-50A, Class A1R^(b)(d)(e) (3 mo. USD Term SOFR + 1.270%)
	3,000,000		4.923		04/20/39	3,002,244
KKR CLO 56 Ltd. Series 2024-56A, Class B^(b)(d)(e) (3 mo. USD Term SOFR + 1.750%)
	4,725,000		5.423		10/15/37	4,737,436
Madison Park Funding XXXVII Ltd. Series 2019-37A, Class AR2^(b)(d)(e) (3 mo. USD Term SOFR + 1.530%)
	1,500,000		5.203		04/15/37	1,501,331
Man GLG U.S. CLO Ltd. Series 2021-1A, Class A1^(b)(d)(e) (3 mo. USD Term SOFR + 1.562%)
	6,700,000		5.235		07/15/34	6,700,067
North Westerly VII ESG CLO DAC Series VII-X, Class D^(b)(d) (3 mo. EUR EURIBOR + 2.950%)
EUR	1,200,000		5.233		05/15/34	1,335,218
OCP CLO Ltd. Series 2017-14A, Class A1R^(b)(d)(e) (3 mo. USD Term SOFR + 1.370%)
$	5,450,000		5.045		07/20/37	5,454,038
OCP Euro DAC Series 2025-12A, Class B1^(b)(d)(e) (3 mo. EUR EURIBOR + 1.700%)
EUR	2,000,000		3.938		01/20/38	2,275,997
Octagon 67 Ltd. Series 2023-1A, Class AR^(b)(d)(e) (3 mo. USD Term SOFR + 1.450%)
$	4,000,000		5.117		07/25/38	4,012,312
OHA Credit Funding 2 Ltd. Series 2019-2A, Class B1R2^(b)(d)(e) (3 mo. USD Term SOFR + 1.550%)
	1,250,000		5.222		01/21/38	1,250,824
Palmer Square CLO Ltd. Series 2024-3A, Class A^(b)(d)(e) (3 mo. USD Term SOFR + 1.350%)
	7,500,000		5.025		07/20/37	7,512,262
Park Blue CLO Ltd. Series 2022-1A, Class A1R^(b)(d)(e) (3 mo. USD Term SOFR + 1.420%)
	1,200,000		5.095		10/20/37	1,202,035
Park Blue CLO Ltd. Series 2023-4A, Class D1R^(b)(d)(e) (3 mo. USD Term SOFR + 2.750%)
	3,000,000		6.417		01/25/39	2,977,500
Penta CLO DAC Series 2021-2A, Class BR^(b)(d)(e) (3 mo. EUR EURIBOR + 1.650%)
EUR	1,350,000		3.854		04/15/38	1,536,389
Pikes Peak CLO 19 Series 2025-19A, Class A1^(b)(d)(e) (3 mo. USD Term SOFR + 1.340%)
$	11,600,000		5.015		07/20/38	11,626,297

GOLDMAN SACHS DYNAMIC BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Asset-Backed Securities – (continued)
Collateralized Loan Obligations – (continued)
Post CLO Ltd. Series 2024-1A, Class CR(b)^(d)(e) (3 mo. USD Term SOFR + 1.850%)
$	5,300,000		5.455	%	03/30/39	$ 5,321,518
Providus CLO XIII DAC Series 13A, Class B^(b)(d)(e) (3 mo. EUR EURIBOR + 1.800%)
EUR	7,900,000		4.032		11/19/39	9,045,143
Rad CLO 31 Ltd. Series 2025-31A, Class C1A^(b)(d)(e) (3 mo. USD Term SOFR + 2.400%)
$	3,000,000		6.077		04/17/39	2,993,493
Regatta 30 Funding Ltd. Series 2024-4A, Class A1^(b)(d)(e) (3 mo. USD Term SOFR + 1.320%)
	10,500,000		4.987		01/25/38	10,523,625
Regatta XXVIII Funding Ltd. Series 2024-2AR, Class A1R^(b)(d)(e) (3 mo. USD Term SOFR + 1.230%)
	6,575,000		4.975		07/25/39	6,579,432
RRE 2 Loan Management DAC Series 2A, Class A2RR^(b)(d)(e) (3 mo. EUR EURIBOR + 1.750%)
EUR	5,300,000		3.954		01/15/41	6,074,383
RRE 5 Loan Management DAC Series 5X, Class A2R^(b)(d) (3 mo. EUR EURIBOR + 1.750%)
	2,200,000		3.954		01/15/37	2,514,057
Sixth Street CLO XVI Ltd. Series 2020-16A, Class A1R2^(b)(d)(e) (3 mo. USD Term SOFR + 1.170%)
$	3,125,000		4.842		01/21/39	3,118,750
Stellar Jay Ireland DAC Series 2021-1, Class A^(e)
	191,010		3.967		10/15/41	190,250
Sunnova Hestia I Issuer LLC Series 2023-GRID1, Class 1A^(d)(e)
	148,381		5.750		12/20/50	144,733
Symphony CLO 36 Ltd. Series 2025-52A, Class D1R^(b)(d)(e) (3 mo. USD Term SOFR + 2.500%)
	3,625,000		6.165		01/20/36	3,613,349
Trimaran CAVU Ltd. Series 2021-2A, Class D1R^(b)(d)(e) (3 mo. USD Term SOFR + 2.500%)
	5,275,000		6.167		10/25/34	5,182,603
Trimaran CAVU Ltd. Series 2026-1A, Class D1^(b)(d)(e) (3 mo. USD Term SOFR + 2.900%)
	4,000,000		6.640		07/22/39	3,999,624
Trinitas CLO XXIII Ltd. Series 2023-23A, Class A1R^(b)(d)(e) (3 mo. USD Term SOFR + 1.310%)
	2,000,000		4.985		10/20/38	2,002,194
Vibrant CLO XVI Ltd. Series 2023-16A, Class A1A2^(b)(d)(e) (3 mo. USD Term SOFR + 1.250%)
	3,700,000		4.923		07/15/36	3,701,251
Voya CLO Ltd. Series 2024-1A, Class D^(b)(d)(e) (3 mo. USD Term SOFR + 3.650%)
	1,375,000		7.323		04/15/37	1,375,000
Wind River CLO Ltd. Series 2021-3A, Class A1R^(b)(d)(e) (3 mo. USD Term SOFR + 1.240%)
	3,500,000		4.915		04/20/38	3,500,634
Zais CLO 15 Ltd. Series 2020-15A, Class A1RR^(b)(d)(e) (3 mo. USD Term SOFR + 1.490%)
	2,000,000		5.160		07/28/37	2,001,840

						354,136,118

Credit Card^(d) – 0.6%
American Express Credit Account Master Trust Series 2025-3, Class A
	2,950,000		4.510		04/15/32	2,956,263


Principal Amount		Interest Rate			Maturity Date	Value

Asset-Backed Securities – (continued)
Credit Card^(d) – (continued)
Barclays Dryrock Issuance Trust Series 2025-1, Class A
$	2,625,000		3.970	%	07/15/31	$ 2,601,376
Capital One Multi-Asset Execution Trust Series 2025-A3, Class A
	2,125,000		4.650		10/15/37	2,080,606
Citibank Credit Card Issuance Trust Series 2025-A2, Class A
	2,175,000		4.490		06/21/32	2,176,438

						9,814,683

Home Equity^(b)(d) – 0.0%
JP Morgan Mortgage Trust Series 2023-HE3, Class A1^(e) (1 mo. USD Term SOFR + 1.600%)
	228,707		5.209		05/20/54	229,175
JP Morgan Mortgage Trust Series 2023-HE1, Class A1^(e) (1 mo. USD Term SOFR + 1.750%)
	406,099		5.362		11/25/53	406,258
Lehman XS Trust Series 2007-3, Class 1BA2 (6 mo. USD Term SOFR + 0.928%)
	42,846		4.645		03/25/37	47,938
Morgan Stanley Mortgage Loan Trust Series 2006-16AX, Class 1A (1 mo. USD Term SOFR + 0.454%)
	628,452		4.103		11/25/36	92,621

						775,992

TOTAL ASSET-BACKED SECURITIES (Cost $371,547,038)						$ 371,004,400



Sovereign Debt Obligations – 5.1%
Euro – 0.4%
Brazil Government International Bonds
EUR	1,490,000		4.000	%	04/23/30	$ 1,704,602
Indonesia Government International Bonds^(d)
	1,480,000		4.100		03/04/34	1,665,682
Ivory Coast Government International Bonds
	530,000		4.875		01/30/32	598,468
Morocco Government International Bonds^(e)
	1,320,000		4.750		05/26/34	1,535,712
	670,000		5.125		05/26/38	780,378
Romania Government International Bonds^(e)
	1,250,000		3.624		05/26/30	1,401,913

						7,686,755

United States Dollar – 4.7%
Angola Government International Bonds^(e)
$	1,490,000		9.244		01/15/31	1,545,503
Argentina Republic Government International Bonds^(d)(f)
	3,100,000		4.125		07/09/35	2,483,100
Benin Government International Bonds
	2,240,000		7.960		02/13/38	2,376,248
Colombia Government International Bonds^(d)
	1,070,000		5.375		01/21/29	1,067,967
	2,660,000		7.375		04/25/30	2,804,305
Congolese International Bonds
	980,000		9.500		02/17/35	958,254
	1,530,000		9.500		05/26/36	1,477,980
Costa Rica Government International Bonds
	4,110,000		5.625		04/30/43	3,959,122

GOLDMAN SACHS DYNAMIC BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Sovereign Debt Obligations – (continued)
United States Dollar – (continued)
Dominican Republic International Bonds^(d)(e)
$	1,260,000		5.750	%	03/17/34	$ 1,242,360
	1,250,000		6.150		05/17/38	1,240,357
Ecuador Government International Bonds
	1,810,000		8.750	^(e)	01/29/34	1,829,729
	1,340,000		8.750		01/29/34	1,354,606
	920,000		9.250	^(e)	01/29/39	942,540
Egypt Government International Bonds
	2,070,000		9.450		02/04/33	2,295,371
	1,070,000		7.625	^(e)	05/20/34	1,079,876
Egyptian Financial Co. for Sovereign Taskeek^(e)
	420,000		7.950		10/07/32	441,269
El Salvador Government International Bonds^(d)
	2,040,000		9.500		07/15/52	2,298,182
Ghana Government International Bonds^(f)
	2,570,000		5.000		07/03/35	2,384,266
Guatemala Government Bonds^(d)
	3,150,000		7.050		10/04/32	3,397,275
	1,160,000		6.250	^(e)	08/15/36	1,210,680
Hungary Government International Bonds
	3,440,000		6.750		09/25/52	3,756,308
Ivory Coast Government International Bonds
	1,190,000		7.625		01/30/33	1,271,932
	1,896,000		6.125		06/15/33	1,880,832
	560,000		8.075	^(e)	04/01/36	614,846
	2,590,000		6.750	^(e)	02/25/41	2,510,668
Mexico Government International Bonds^(d)
	4,290,000		6.250		08/27/37	4,286,139
Mongolia Government International Bonds
	2,510,000		4.450		07/07/31	2,346,850
National Bank of Uzbekistan^(d)
	2,260,000		7.200		07/17/30	2,339,100
Nigeria Government International Bonds
	910,000		7.143		02/23/30	924,788
	1,260,000		7.875		02/16/32	1,311,307
Republic of South Africa Government International Bonds
	1,090,000		6.125	^(e)	12/11/37	1,070,516
	2,360,000		7.950		11/19/54	2,542,900
	1,900,000		7.250	^(e)	12/11/55	1,894,300
Romania Government International Bonds
	930,000		3.000		02/14/31	832,471
	6,350,000		5.750	^(e)	07/04/36	6,081,712
	1,740,000		7.500		02/10/37	1,884,420
Serbia International Bonds^(e)
	2,610,000		5.500		05/06/36	2,559,836
Sri Lanka Government International Bonds^(f)
	2,590,000		3.350		03/15/33	2,479,925
Ukraine Government International Bonds^(e)(f)
	3,020,000		4.000		02/01/32	2,493,010
Venezuela Government International Bonds^(j)
	6,610,000		7.650		04/21/25	2,933,188

						82,404,038

TOTAL SOVEREIGN DEBT OBLIGATIONS (Cost $89,406,370)						$ 90,090,793


Principal Amount		Interest Rate			Maturity Date	Value

Bank Loans^(k)– 2.8%
Aerospace & Defense – 0.1%
Bleriot U.S. Bidco, Inc.
(3 mo. USD Term SOFR + 2.250%)
$	686,035		5.982	%	10/31/30	$ 685,390
Kaman Corp.
(3 mo. USD Term SOFR + 2.250%)
	1,434,110		5.921		02/26/32	1,431,070

						2,116,460

Automotive – 0.0%
First Brands Group LLC
(1 mo. USD Term SOFR + 7.000%)
	42,297		10.645		06/29/27	14

Building & Construction – 0.1%
KKR Apple Bidco LLC
(1 mo. USD Term SOFR + 2.500%)
	1,433,175		6.144		09/23/31	1,433,806

Commercial Services – 0.3%
Anticimex International AB
(3 mo. USD Term SOFR + 2.900%)
	2,544,130		6.410		11/17/31	2,546,395
Fleet Midco I Ltd.
(1 mo. USD Term SOFR + 2.750%)
	3,451,980		6.394		02/21/31	3,451,979

						5,998,374

Consumer Cyclical Services – 0.1%
IRB Holding Corp.
(1 mo. USD Term SOFR + 2.500%)
	2,046,188		6.144		12/16/30	2,045,983

Consumer Cyclical Services – Rental Equipment – 0.2%
Hertz Corp.
(3 mo. USD Term SOFR + 3.500%)
	4,666,981		7.425		06/30/28	3,288,122

Diversified Financial Services – 0.2%
GEN II Fund Services LLC
(3 mo. USD Term SOFR + 2.750%)
	1,377,562		6.482		11/26/31	1,374,118
VFH Parent LLC
(1 mo. USD Term SOFR + 2.500%)
	1,806,750		6.144		06/21/31	1,805,847

						3,179,965

Diversified Manufacturing – 0.1%
Chart Industries, Inc.
(3 mo. USD Term SOFR + 2.500%)
	2,068,915		6.182		03/15/30	2,065,046

Electrical – 0.0%
Kohler Energy Co. LLC
(3 mo. USD Term SOFR + 3.000%)
	482,078		6.732		05/01/31	482,382

Entertainment – 0.1%
Crown Finance U.S., Inc.
(1 mo. USD Term SOFR + 4.500%)
	1,477,575		8.114		12/02/31	1,479,422

GOLDMAN SACHS DYNAMIC BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Bank Loans^(k)– (continued)
Healthcare – 0.2%
Athenahealth Group, Inc.
(1 mo. USD Term SOFR + 3.250%)
$	1,694,714		6.894	%	02/16/32	$ 1,675,225
LifePoint Health, Inc.
(3 mo. USD Term SOFR + 3.750%)
	929,712		7.423		05/19/31	914,604

						2,589,829

Insurance – 0.2%
Broadstreet Partners, Inc.
(1 mo. USD Term SOFR + 2.500%)
	2,237,669		6.144		06/13/31	2,156,106
Lockton, Inc.
(3 mo. USD Term SOFR + 2.000%)
	890,000		5.657		05/09/33	886,662

						3,042,768

Internet – 0.1%
BEP Intermediate Holdco LLC
(1 mo. USD Term SOFR + 2.750%)
	539,065		6.394		04/25/31	537,270
Plano HoldCo, Inc.
(3 mo. USD Term SOFR + 3.500%)
	425,570		7.232		10/02/31	331,945

						869,215

Machinery – 0.1%
TK Elevator Midco GmbH
(6 mo. USD Term SOFR + 2.750%)
	2,346,537		6.377		04/30/30	2,355,383

Media – Cable – 0.0%
iHeartCommunications, Inc.
(1 mo. USD Term SOFR + 5.775%)
	599,307		9.533		05/01/29	570,768

Midstream – 0.1%
AL GCX Holdings LLC
(1 mo. USD Term SOFR + 2.250%)
	498,750		5.863		12/17/32	498,571
Prairie ECI Acquiror LP
(1 mo. USD Term SOFR + 3.250%)
	1,965,200		6.894		08/01/29	1,969,621

						2,468,192

Pipelines – 0.2%
CQP Holdco LP
(3 mo. USD Term SOFR + 1.750%)
	2,351,295		5.482		12/31/32	2,336,176
WhiteWater DBR HoldCo LLC
(3 mo. USD Term SOFR + 2.250%)
	1,645,750		6.000		03/03/31	1,650,687

						3,986,863

Technology – 0.3%
Go Daddy Operating Co. LLC
(1 mo. USD Term SOFR + 1.750%)
	4,153,861		5.394		11/09/29	4,058,904


Principal Amount		Interest Rate			Maturity Date	Value

Bank Loans^(k)– (continued)
Technology – (continued)
McAfee LLC
(1 mo. USD Term SOFR + 3.000%)
$	1,109,999		6.644	%	03/01/29	$ 982,349

						5,041,253

Technology – Software – 0.2%
Camelot U.S. Acquisition LLC
(1 mo. USD Term SOFR + 2.750%)
	1,831,968		6.394		01/31/31	1,682,352
Epicor Software Corp.
(1 mo. USD Term SOFR + 2.750%)
	388,088		6.394		05/30/31	370,138
Travelport Finance (Luxembourg) SARL
(3 mo. USD Term SOFR + 7.000%)
	12,736		10.953		09/29/28	9,418
UKG, Inc.
(3 mo. USD Term SOFR + 2.250%)
	671,938		5.913		02/10/31	631,467

						2,693,375

Water Utilities – 0.2%
Deep Blue Operating I LLC
(3 mo. USD Term SOFR + 2.250%)
	2,793,000		5.902		10/01/32	2,798,251

TOTAL BANK LOANS (Cost $50,063,462)						$ 48,505,471



Municipal Debt Obligations – 0.5%
California^(d)– 0.1%
California Public Finance Authority RB (Taxable) Series 2026 B (Children’s Hospital Los Angeles Obligated Group)
$	1,675,000		5.403	%	11/15/36	$ 1,676,624

Illinois – 0.4%
Illinois State GO Bonds Build America Series 2010
	3,192,857		7.350		07/01/35	3,412,685
Illinois State GO Bonds Taxable-Pension Series 2003
	3,412,810		5.100		06/01/33	3,447,757

						6,860,442

TOTAL MUNICIPAL DEBT OBLIGATIONS (Cost $8,489,129)						$ 8,537,066


Shares		Description				Value

Common Stocks^(j)– 0.0%
Containers & Packaging – 0.0%
	11,517		Ardagh Holdings SA			$ 75,008

Media – 0.0%
	121,215		iHeartMedia, Inc. Class A			520,013

TOTAL COMMON STOCKS (Cost $352,696)						$ 595,021

GOLDMAN SACHS DYNAMIC BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Units		Expiration Date				Value

Rights^(j)– 0.0%
Cineworld Group PLC
	16,800		12/31/99			$ 408,710
(Cost $426,888)


Principal Amount		Interest Rate			Maturity Date	Value

U.S. Treasury Obligations – 10.2%
U.S. Treasury Bonds
$	82,210,000		4.375	%	08/15/43	$ 77,315,936
	4,550,000		4.750		02/15/45	4,451,891
U.S. Treasury Inflation-Indexed Bonds
	41,850,294		1.500		02/15/53	31,811,127
U.S. Treasury Notes
	8,970,000		4.125		11/30/29	8,955,984
	56,500,000		4.125		03/31/32	56,138,047

TOTAL U.S. TREASURY OBLIGATIONS (Cost $181,153,478)						$ 178,672,985


Shares		Dividend Rate				Value

Investment Company^(l)– 4.3%
Goldman Sachs Central Government Fund — Institutional Shares
	76,302,390		3.703%			$ 76,302,390
(Cost $76,302,390)

TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS – 129.8% (Cost $2,288,027,070)						$2,282,769,820


Principal Amount		Interest Rate			Maturity Date	Value

Short-term Investments^(e)(m)– 1.9%
Commercial Paper^(e)(m)– 1.9%
Bayer Corp.
$	8,500,000		0.000	%	10/20/26	$ 8,386,977
Energy Transfer LP
	3,856,000		0.000		07/01/26	3,855,585
Evergy Missouri West, Inc.
	5,524,000		0.000		07/01/26	5,523,405
Oracle Corp.
	7,795,000		0.000		10/02/26	7,704,874
RWE AG
	8,864,000		0.000		04/20/27	8,546,736

TOTAL SHORT-TERM INVESTMENTS (Cost $34,024,382)						$ 34,017,577

TOTAL INVESTMENTS – 131.7% (Cost $2,322,051,452)						$2,316,787,397

LIABILITIES IN EXCESS OF OTHER ASSETS – ( 31.7)%						(557,484,190)

NET ASSETS – 100.0%						$1,759,303,207


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

(a)		Interest Only Inverse Floaters.

(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 June 30, 2026.

(c)		Security with a notional or nominal principal amount. The actual effective yield of this security is different than the stated interest rate.

(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)		Coupon changes periodically based upon a predetermined schedule. Interest rate disclosed is that which is in effect on June 30, 2026.

(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 $631,447,245 which represents approximately 35.8% of net assets as of June 30, 2026.

(h)		Pay-in-kind securities.

(i)		Significant unobservable inputs were used in the valuation of this portfolio security; i.e., Level 3.

(j)		Security is currently in default and/or non-income producing.

(k)		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 June 30, 2026. 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.

(l)		Represents an affiliated issuer.

(m)		Issued with a zero coupon. Income is recognized through the accretion of discount.

GOLDMAN SACHS DYNAMIC BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

UNFUNDED LOAN COMMITMENTS — At June 30, 2026, the Fund had unfunded loan commitments which could be extended at the option of the borrowers, pursuant to the following loan agreements:


Borrower	Principal Amount		Current Value		Unrealized Gain (Loss)

Kaman Corp. (NR/B1), due 02/26/32	$	166,345	$	165,992	$	(922	)

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS — At June 30, 2026, 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	3,802,213	NZD	4,627,955		07/17/26	$	1,478
	AUD	39,564,478	USD	27,260,879		07/17/26		122,778
	AUD	6,360,539	USD	4,384,065		07/27/26		17,336
	CAD	33,907,986	EUR	20,908,986		07/10/26		18,509
	CAD	4,757,194	USD	3,351,000		07/10/26		4,769
	CAD	3,757,398	USD	2,656,000		09/16/26		2,506
	CAD	10,406,830	USD	7,354,671		09/17/26		8,907
	CHF	17,539,327	USD	21,856,518		09/16/26		37,227
	CNH	26,069,799	USD	3,856,890		09/16/26		3,179
	COP	16,547,696,000	USD	4,504,000		07/02/26		334,700
	COP	26,420,919,721	USD	7,316,443		07/09/26		396,283
	COP	32,783,651,470	USD	9,331,207		07/10/26		236,604
	COP	16,349,736,000	USD	4,524,000		07/14/26		243,026
	COP	10,516,222,735	USD	2,913,081		07/24/26		145,726
	COP	7,985,648,000	USD	2,312,000		08/03/26		5,737
	EUR	18,812,455	CAD	30,455,070		07/10/26		20,720
	EUR	24,744,402	SEK	272,884,179		07/10/26		126,124
	EUR	6,187,526	USD	7,060,425		07/09/26		12,059
	EUR	32,471,905	USD	36,967,386		07/10/26		150,382
	EUR	19,334,000	USD	22,046,270		07/13/26		56,838
	EUR	24,585,094	USD	27,938,500		07/31/26		188,909
	EUR	30,584,387	USD	34,896,786		08/13/26		113,549
	EUR	31,401,310	USD	35,863,083		09/16/26		132,581
	GBP	17,218,652	USD	22,711,136		07/10/26		128,329
	GBP	1,930,081	USD	2,548,000		09/16/26		12,148
	ILS	19,512,540	USD	6,515,401		07/10/26		43,318
	INR	57,147,641	USD	601,113		07/02/26		2,582
	INR	431,949,570	USD	4,533,000		07/03/26		29,916
	INR	1,050,398,010	USD	11,007,000		07/09/26		86,112
	INR	497,236,670	USD	5,189,961		07/10/26		60,864
	INR	807,190,511	USD	8,511,525		07/13/26		10,348
	INR	1,051,483,358	USD	11,086,287		07/22/26		6,626
	INR	1,089,379,125	USD	11,475,000		07/24/26		15,849
	INR	1,777,539,346	USD	18,521,063		09/16/26		144,464
	MXN	11,208,086	USD	637,383		07/10/26		2,999
	NZD	38,234,429	AUD	31,350,000		07/17/26		31,016
	NZD	10,354,233	USD	5,838,710		07/13/26		44,962
	NZD	47,447,024	USD	26,794,532		07/17/26		170,333
	NZD	22,108,359	USD	12,524,518		08/04/26		47,208
	NZD	12,112,228	USD	6,896,000		09/16/26		1,102
	SEK	223,769,370	EUR	20,149,696		07/10/26		57,874
	SEK	30,489,893	USD	3,151,471		09/16/26		6,623
	TRY	820,806,173	USD	16,197,900		09/16/26		355,409
	TWD	354,631,770	USD	11,110,714		07/02/26		21,250

GOLDMAN SACHS DYNAMIC BOND FUND

Schedule of Investments (continued)

June 30, 2026 (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)	TWD	355,555,667	USD	11,131,290		09/16/26	$	558
	USD	12,286,817	AUD	17,117,327		07/01/26		435,833
	USD	8,151,700	AUD	11,533,532		07/14/26		168,537
	USD	4,504,780	AUD	6,490,100		07/17/26		12,804
	USD	91,075,866	AUD	130,895,384		07/27/26		498,148
	USD	12,471,865	AUD	17,705,657		08/04/26		221,420
	USD	92,650,316	AUD	130,186,226		09/16/26		2,640,961
	USD	18,496,277	AUD	26,193,781		09/17/26		386,488
	USD	24,711,723	CAD	34,538,834		07/02/26		356,498
	USD	26,213,509	CAD	37,111,749		07/10/26		34,530
	USD	2,102,029	CAD	2,882,950		08/20/26		64,619
	USD	74,326,507	CAD	103,908,723		09/16/26		807,035
	USD	73,876,046	CHF	57,796,356		09/16/26		1,730,824
	USD	10,255,945	CLP	9,364,395,802		09/16/26		88,361
	USD	221,414,698	CNH	1,490,788,928		09/16/26		678,496
	USD	1,310,416	CZK	27,549,846		08/10/26		13,012
	USD	33,815,303	CZK	709,541,091		09/16/26		389,286
	USD	7,310,672	EUR	6,254,853		07/03/26		163,015
	USD	44,275,022	EUR	38,350,875		07/09/26		439,096
	USD	56,232,815	EUR	48,627,652		07/10/26		647,843
	USD	54,569,852	EUR	46,816,963		07/13/26		1,047,539
	USD	29,762,565	EUR	25,704,124		07/14/26		375,675
	USD	54,555,038	EUR	47,555,225		07/23/26		164,701
	USD	53,254,103	EUR	46,224,557		07/28/26		374,006
	USD	63,827,143	EUR	54,904,076		08/19/26		961,807
	USD	267,665,297	EUR	229,615,722		09/16/26		4,454,291
	USD	15,189,207	EUR	13,189,135		09/17/26		69,718
	USD	34,523,012	GBP	25,733,398		07/10/26		389,268
	USD	20,983,418	GBP	15,656,779		07/15/26		215,745
	USD	3,214,131	GBP	2,380,133		07/20/26		57,054
	USD	57,812,038	GBP	43,134,993		09/16/26		595,803
	USD	2,279,172	GBP	1,717,237		09/17/26		1,348
	USD	75,246,220	HUF	23,266,808,431		09/16/26		734,485
	USD	4,747,873	ILS	14,087,247		07/01/26		13,890
	USD	4,499,054	ILS	13,354,822		07/10/26		10,119
	USD	6,911,521	ILS	20,279,681		09/16/26		83,341
	USD	4,553,656	INR	430,764,479		07/02/26		3,155
	USD	4,571,564	INR	431,941,498		07/03/26		8,733
	USD	11,482,000	INR	1,084,589,720		07/22/26		39,822
	USD	15,906,541	INR	1,514,779,899		09/16/26		189
	USD	72,693,633	JPY	11,420,306,219		07/01/26		2,450,420
	USD	2,131,803	JPY	341,301,623		07/06/26		31,731
	USD	47,884,308	JPY	7,727,030,489		07/09/26		327,088
	USD	60,845,722	JPY	9,838,034,708		07/10/26		290,816
	USD	610,678	JPY	97,061,236		08/04/26		12,032
	USD	24,155,340	JPY	3,778,656,592		08/05/26		847,775
	USD	65,581,894	JPY	10,444,867,214		09/16/26		939,940
	USD	12,147,702	JPY	1,939,789,929		09/17/26		141,590
	USD	8,408,504	KRW	12,757,501,985		07/01/26		172,241
	USD	8,330,258	KRW	12,725,279,359		07/02/26		112,903
	USD	5,160,796	KRW	7,966,748,482		07/06/26		11,514
	USD	30,107,394	KRW	44,894,881,045		07/07/26		1,083,033
	USD	689,485	KRW	1,044,129,125		07/08/26		14,453
	USD	58,361,878	KRW	88,782,682,732		09/16/26		902,169
	USD	641,441	MXN	11,214,367		07/10/26		700

GOLDMAN SACHS DYNAMIC BOND FUND

Schedule of Investments (continued)

June 30, 2026 (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	4,511,000		MXN	78,767,270		07/17/26	$	13,393
	USD	23,227,094		MXN	405,176,852		09/17/26		207,248
	USD	4,386,857		NOK	41,491,894		07/20/26		196,335
	USD	27,957,781		NOK	268,307,100		09/16/26		881,352
	USD	26,037,904		NZD	43,849,620		07/03/26		1,130,257
	USD	5,801,556		NZD	9,859,910		07/08/26		199,723
	USD	88,468,283		NZD	149,819,277		07/13/26		3,335,223
	USD	91,902,096		NZD	158,350,006		07/17/26		1,909,380
	USD	81,498,767		NZD	142,203,765		08/04/26		635,831
	USD	36,381,926		NZD	63,883,979		08/24/26		30,496
	USD	20,405,692		NZD	34,712,346		09/16/26		639,337
	USD	37,648,133		NZD	64,429,134		09/17/26		958,867
	USD	6,313,020		PLN	23,020,552		07/07/26		193,526
	USD	56,866,277		PLN	207,484,459		09/16/26		1,713,382
	USD	45,897,406		SEK	428,880,812		09/16/26		1,474,619
	USD	2,968,372		SEK	27,995,921		09/17/26		68,434
	USD	9,264,000		SGD	11,966,494		07/10/26		8,008
	USD	62,485,524		SGD	79,788,481		09/16/26		474,914
	USD	25,132,748		TWD	796,403,253		09/16/26		198,706
	USD	6,560,552		ZAR	107,131,014		09/16/26		61,380
	ZAR	25,759,431		USD	1,541,695		07/29/26		26,910
	ZAR	398,913,256		USD	24,103,132		09/16/26		97,200

TOTAL								$	44,830,238

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS WITH UNREALIZED LOSS


Counterparty	Currency Purchased		Currency Sold		Settlement Date		Unrealized Loss

JPMorgan Securities, Inc.	AUD	97,691,173	NZD	119,274,180		07/17/26	$	(170,601	)
	AUD	23,475,191	USD	16,773,024		07/01/26		(520,245	)
	AUD	51,393,406	USD	35,969,371		07/10/26		(393,491	)
	AUD	10,354,987	USD	7,399,881		07/14/26		(232,471	)
	AUD	24,619,413	USD	17,116,475		07/17/26		(76,707	)
	AUD	73,636,282	USD	52,345,978		07/27/26		(1,390,732	)
	AUD	64,121,618	USD	44,986,879		08/04/26		(621,491	)
	AUD	118,759,487	USD	83,272,848		09/16/26		(1,163,816	)
	BRL	26,047,112	USD	4,960,958		09/16/26		(8,119	)
	CAD	60,726,941	EUR	37,585,117		07/10/26		(125,186	)
	CAD	12,115,196	EUR	7,590,000		08/05/26		(129,054	)
	CAD	34,520,622	USD	24,850,120		07/02/26		(507,736	)
	CAD	31,168,022	USD	21,996,836		07/10/26		(10,619	)
	CAD	3,636,477	USD	2,651,445		08/20/26		(81,509	)
	CAD	39,356,743	USD	28,156,426		09/16/26		(309,996	)
	CHF	38,733,190	USD	48,920,380		09/16/26		(571,059	)
	CLP	9,020,634,618	USD	10,088,277		09/16/26		(293,939	)
	CNH	957,598,691	USD	142,160,947		09/16/26		(372,464	)
	CNH	536,041,634	USD	79,726,823		09/17/26		(350,421	)
	CZK	710,099,981	USD	34,092,103		09/16/26		(639,757	)
	EUR	60,314,000	CAD	97,884,235		07/10/26		(105,143	)
	EUR	10,093,272	SEK	111,891,477		07/10/26		(8,578	)
	EUR	12,443,865	USD	14,447,328		07/03/26		(227,251	)
	EUR	30,576,832	USD	35,530,279		07/09/26		(580,261	)
	EUR	68,322,136	USD	78,901,639		07/10/26		(804,429	)

GOLDMAN SACHS DYNAMIC BOND FUND

Schedule of Investments (continued)

June 30, 2026 (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)	EUR	26,867,467	USD	31,711,671		07/13/26	$	(996,117	)
	EUR	15,250,193	USD	17,833,576		07/14/26		(398,407	)
	EUR	27,887,234	USD	32,307,361		07/23/26		(411,895	)
	EUR	24,754,868	USD	28,708,715		07/24/26		(394,579	)
	EUR	44,034,956	USD	51,317,669		07/28/26		(942,439	)
	EUR	14,741,138	USD	17,148,276		08/19/26		(269,626	)
	EUR	27,441,447	USD	31,502,781		08/24/26		(75,596	)
	EUR	193,067,559	USD	223,332,657		09/16/26		(2,017,210	)
	EUR	3,293,249	USD	3,816,200		09/17/26		(40,954	)
	GBP	23,066,053	USD	31,006,153		07/10/26		(410,478	)
	GBP	11,917,247	USD	16,057,865		07/15/26		(250,432	)
	GBP	15,867,550	USD	21,287,905		07/20/26		(240,723	)
	GBP	22,648,370	USD	30,382,789		08/17/26		(341,490	)
	GBP	8,255,213	USD	11,058,850		09/16/26		(108,757	)
	GBP	10,611,127	USD	14,258,522		09/17/26		(183,421	)
	HUF	30,610,988	USD	100,829		08/06/26		(2,679	)
	HUF	34,765,870,241	USD	113,021,968		09/16/26		(1,684,595	)
	ILS	10,291,202	USD	3,548,690		07/01/26		(90,359	)
	ILS	11,119,728	USD	3,787,541		07/10/26		(49,885	)
	ILS	18,445,111	USD	6,280,482		09/16/26		(70,004	)
	INR	804,086,638	USD	8,505,958		07/02/26		(11,763	)
	INR	58,294,228	USD	616,147		07/13/26		(709	)
	INR	1,506,985,694	USD	15,906,541		07/17/26		(1,757	)
	INR	1,084,109,820	USD	11,443,000		07/20/26		(4,037	)
	INR	668,699,041	USD	7,041,843		09/16/26		(19,990	)
	JPY	2,527,448,599	USD	15,885,912		07/01/26		(340,260	)
	JPY	320,090,186	USD	2,009,985		07/06/26		(40,431	)
	JPY	7,727,030,489	USD	47,841,449		07/09/26		(284,229	)
	JPY	6,419,544,573	USD	39,678,180		07/10/26		(164,706	)
	JPY	244,288,917	USD	1,528,047		07/24/26		(22,601	)
	JPY	3,378,648,407	USD	21,213,005		08/05/26		(372,777	)
	JPY	20,312,488,498	USD	127,821,727		09/16/26		(2,110,320	)
	KRW	12,757,501,985	USD	8,379,166		07/01/26		(142,902	)
	KRW	12,725,279,359	USD	8,327,310		07/02/26		(109,954	)
	KRW	7,966,617,282	USD	5,196,987		07/06/26		(47,790	)
	KRW	44,895,657,632	USD	29,405,426		07/07/26		(380,564	)
	KRW	4,643,358,752	USD	3,008,496		07/08/26		(6,549	)
	KRW	13,826,422,400	USD	9,136,000		07/20/26		(195,967	)
	KRW	10,531,185,752	USD	6,864,956		07/31/26		(54,826	)
	KRW	76,313,662,799	USD	49,920,719		09/16/26		(530,898	)
	MXN	78,979,538	USD	4,578,494		07/17/26		(68,767	)
	MXN	199,167,240	USD	11,486,000		09/15/26		(168,619	)
	MXN	389,785,808	USD	22,230,494		09/17/26		(85,078	)
	NOK	41,050,468	USD	4,392,701		07/20/26		(246,761	)
	NOK	269,536,250	USD	28,478,901		09/16/26		(1,278,431	)
	NZD	65,983,610	USD	38,896,130		07/03/26		(1,415,839	)
	NZD	6,179,525	USD	3,616,247		07/08/26		(105,397	)
	NZD	143,275,954	USD	84,946,073		07/13/26		(3,531,179	)
	NZD	230,562,115	USD	133,608,091		07/17/26		(2,576,134	)
	NZD	54,594,182	USD	32,432,621		08/04/26		(1,388,112	)
	NZD	55,264,058	USD	31,456,302		08/06/26		(28,769	)
	NZD	82,363,828	USD	47,746,311		08/24/26		(879,429	)
	NZD	82,018,154	USD	48,204,792		09/16/26		(1,500,950	)
	NZD	3,255,899	USD	1,891,905		12/29/26		(31,647	)
	PLN	23,707,443	USD	6,501,389		07/07/26		(199,301	)

GOLDMAN SACHS DYNAMIC BOND FUND

Schedule of Investments (continued)

June 30, 2026 (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)		PLN	91,522,585		USD	24,663,130		09/16/26	$	(334,871	)
		PLN	24,774,151		USD	6,740,420		09/17/26		(155,028	)
		SEK	558,504,188		USD	59,736,710		09/16/26		(1,887,741	)
		SGD	11,974,656		USD	9,264,000		07/10/26		(1,695	)
		SGD	408,076		USD	322,751		07/16/26		(6,963	)
		SGD	80,150,766		USD	62,791,569		09/16/26		(499,396	)
		TWD	354,464,800		USD	11,260,000		07/02/26		(133,277	)
		TWD	1,259,673,104		USD	39,757,812		09/16/26		(319,574	)
		USD	2,865,887		AUD	4,146,945		07/17/26		(4,327	)
		USD	13,045,976		AUD	18,942,901		08/04/26		(60,511	)
		USD	4,568,045		BRL	24,198,212		09/16/26		(33,227	)
		USD	10,786,765		CAD	15,265,227		09/16/26		(13,979	)
		USD	34,498,414		CNH	233,099,762		09/16/26		(15,899	)
		USD	1,629,262		COP	5,835,038,748		07/03/26		(76,547	)
		USD	2,929,248		COP	10,069,905,142		07/10/26		(9,624	)
		USD	1,120,416		COP	4,089,517,670		07/24/26		(69,084	)
		USD	9,042,328		COP	33,021,409,053		09/16/26		(442,695	)
		USD	7,060,425		EUR	6,189,034		07/03/26		(12,018	)
		USD	21,525,159		EUR	18,905,361		07/10/26		(85,055	)
		USD	55,854,035		EUR	49,154,303		07/28/26		(377,641	)
		USD	20,701,174		EUR	18,152,555		07/31/26		(66,872	)
		USD	13,379,956		EUR	11,700,000		08/19/26		(16,580	)
		USD	35,426,994		EUR	31,023,723		09/16/26		(135,838	)
		USD	7,090,213		EUR	6,201,707		09/17/26		(19,172	)
		USD	28,262,718		GBP	21,424,134		08/17/26		(154,727	)
		USD	14,182,226		GBP	10,739,404		09/16/26		(63,012	)
		USD	13,861,000		HUF	4,348,641,431		09/16/26		(65,483	)
		USD	1,268,583		ILS	3,793,736		07/10/26		(6,599	)
		USD	4,504,000		INR	430,469,800		07/02/26		(43,389	)
		USD	11,086,287		INR	1,050,297,125		07/09/26		(5,759	)
		USD	5,248,019		INR	497,669,107		07/10/26		(7,372	)
		USD	9,048,000		INR	864,739,980		07/13/26		(81,449	)
		USD	8,511,525		INR	807,726,737		07/20/26		(11,187	)
		USD	21,676,557		INR	2,097,808,790		09/16/26		(352,046	)
		USD	2,317,389		KRW	3,599,034,583		07/08/26		(9,398	)
		USD	12,524,518		NZD	22,131,995		07/03/26		(46,992	)
		USD	9,016,063		NZD	15,912,434		07/17/26		(27,215	)
		USD	1,989,447		SEK	19,397,039		07/10/26		(12,107	)
		USD	3,133,428		SEK	30,318,467		09/16/26		(6,910	)
		USD	9,274,000		SGD	12,034,963		07/10/26		(34,951	)
		USD	6,632,205		TRY	333,175,099		09/16/26		(86,983	)
		USD	22,236,773		TWD	709,096,570		07/02/26		(21,914	)
		USD	11,493,000		ZAR	190,763,113		09/16/26		(79,768	)
		ZAR	87,623,022		USD	5,346,218		09/16/26		(30,510	)

TOTAL									$	(42,947,549	)

GOLDMAN SACHS DYNAMIC BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

FORWARD SALES CONTRACTS — At June 30, 2026, 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		07/20/26	$	(8,000,000)	$	(7,097,798)
Uniform Mortgage-Backed Security		3.000			TBA - 30yr		07/13/26		(34,000,000)		(29,651,720)
Uniform Mortgage-Backed Security		3.500			TBA - 30yr		07/13/26		(88,000,000)		(79,884,059)
Uniform Mortgage-Backed Security		4.000			TBA - 30yr		07/13/26		(65,000,000)		(60,726,757)
Uniform Mortgage-Backed Security		5.000			TBA - 30yr		07/13/26		(261,000,000)		(256,442,705)

(PROCEEDS RECEIVED: $(432,869,102))										$	(433,803,039)

(a)

FUTURES CONTRACTS — At June 30, 2026, 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	1,242	09/28/26	$	146,969,088		$	654,498
10 Year U.S. Treasury Notes	4,345	09/21/26		477,474,766			592,376
20 Year U.S. Treasury Bonds	400	09/21/26		45,400,000			100,132
30 Year German Euro-Buxl	240	09/08/26		30,499,190			543,348
5 Year U.S. Treasury Notes	2,748	09/30/26		294,164,812			(251,735	)
Euro-Bobl	2,062	09/08/26		271,840,009			868,766
Euro-Schatz	1,396	09/08/26		169,013,559			382,107
ICE 3M SONIA Index	1,273	03/16/27		405,320,308			8,444
ICE 3M SONIA Index	958	09/14/27		304,802,644			1,279,536
Ultra Long U.S. Treasury Bonds	210	09/21/26		24,392,813			(210,430	)

Total						$	3,967,042

Short position contracts:
2 Year U.S. Treasury Notes	(572)	09/30/26		(117,907,968	)		34,749
3 Month SOFR	(2,286)	03/16/27		(548,411,400	)		(281,261	)
5 Year German Euro-Bund	(497)	09/08/26		(72,312,839	)		(612,092	)
Ultra 10-Year U.S. Treasury Notes	(2,340)	09/21/26		(263,176,875	)		(1,883,496	)

Total						$	(2,742,100	)

TOTAL FUTURES CONTRACTS						$	1,224,942

GOLDMAN SACHS DYNAMIC BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

SWAP CONTRACTS — At June 30, 2026, 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)

3.490%^(a)	12M SOFR^(a)	05/31/27	$	10		$	47		$	(7	)	$	54
3.500^(b)	3M KLIBOR^(b)	09/17/27	MYR	280,240	^(c)		(32,179	)		3,466			(35,645	)
1.250^(d)	12M JYOR^(d)	12/15/27	JPY	82,799,440	^(c)		833,978			(1,682,032	)		2,516,010
3.416^(d)	12M SOFR^(d)	04/22/28	$	140,160	^(c)		834,793			218,836			615,957
2.500^(a)	12M EURO^(a)	06/14/28	EUR	18,890	^(c)		(27,390	)		53,867			(81,257	)
3.927^(a)	12M SOFR^(a)	06/30/28	$	130,620	^(c)		210,572			(35,083	)		245,655
12M SOFR^(a)	4.021%^(a)	06/30/28		18,150	^(c)		(1,158	)		(691	)		(467	)
12M EURO^(d)	2.000^(d)	09/10/28	EUR	1,138,677	^(c)		(5,129,786	)		(991,142	)		(4,138,644	)
2.500^(d)	6M EURO^(e)	09/10/28		1,138,677	^(c)		2,542,906			(2,429,839	)		4,972,745
Mexico Interbank TIIE 28 Days^(f)	7.250^(f)	09/14/28	MXN	498,480	^(c)		(8,022	)		(126,551	)		118,529
2.750^(e)	12M CDOR^(e)	09/16/28	CAD	11,470	^(c)		(6,077	)		(7,290	)		1,213
2.500^(e)	12M CDOR^(e)	09/16/28		417,490	^(c)		1,202,177			1,739,558			(537,381	)
4.750^(e)	12M CLICP^(e)	09/16/28	CLP	3,584,740	^(c)		(22,898	)		8,576			(31,474	)
2.000^(a)	12M EURO^(a)	09/16/28	EUR	6,780	^(c)		64,495			73,362			(8,867	)
3.750^(a)	12M GBP^(a)	09/16/28	GBP	37,950	^(c)		270,213			322,650			(52,437	)
6.000^(e)	12M MIBOR^(e)	09/16/28	INR	1,275,070	^(c)		(4,893	)		61,897			(66,790	)
3.250^(a)	12M SOFR^(a)	09/16/28	$	51,850	^(c)		752,654			665,169			87,485
3.000^(a)	12M SOFR^(a)	09/16/28		587,420	^(c)		11,319,936			10,711,242			608,694
1.250^(b)	12M THOR^(b)	09/16/28	THB	374,210	^(c)		12,681			13,278			(597	)
3M STIBOR^(b)	2.500^(a)	09/16/28	SEK	2,158,390	^(c)		778,136			493,254			284,882
12M GBP^(a)	3.500^(a)	09/16/28	GBP	390,760	^(c)		(5,214,853	)		(5,895,903	)		681,050
5.000^(b)	3M AUDOR^(b)	09/16/28	AUD	71,730	^(c)		(554,816	)		(506,295	)		(48,521	)
4.750^(b)	3M AUDOR^(b)	09/16/28		164,180	^(c)		(731,535	)		(715,045	)		(16,490	)
3.500^(b)	3M KWCDC^(b)	09/16/28	KRW	38,285,720	^(c)		159,533			(18,021	)		177,554
6M PRIBOR^(e)	4.000^(a)	09/16/28	CZK	723,590	^(c)		(81,790	)		(387,558	)		305,768
6M NIBOR^(e)	5.000^(a)	09/16/28	NOK	1,323,610	^(c)		368,047			192,376			175,671
6M BUBOR^(e)	6.250^(a)	09/16/28	HUF	3,287,770	^(c)		244,294			(164,086	)		408,380
3M JIBAR^(b)	6.750^(b)	09/16/28	ZAR	311,840	^(c)		(205,713	)		(101,272	)		(104,441	)
2.250^(a)	6M EURO^(e)	09/16/28	EUR	72,390	^(c)		749,387			974,752			(225,365	)
2.500^(a)	6M EURO^(e)	09/16/28		45,970	^(c)		223,195			278,778			(55,583	)
3.750^(a)	6M WIBOR^(e)	09/16/28	PLN	125,840	^(c)		66,794			410,618			(343,824	)
1.250^(a)	6M EURO^(e)	12/19/28	EUR	2,630			86,669			(19,992	)		106,661
1M BID Average^(a)	13.250^(a)	01/02/29	BRL	377,870			(1,764,118	)		(1,538,336	)		(225,782	)
13.250^(a)	1M BID Average^(a)	01/02/29		79,740			372,273			(50,822	)		423,095
1.250^(a)	12M JYOR^(a)	09/16/29	JPY	16,658,000	^(c)		1,336,728			1,431,865			(95,137	)
2.500^(a)	6M EURO^(e)	09/16/29	EUR	1,540	^(c)		10,601			13,831			(3,230	)
12M JYOR^(a)	1.771^(a)	01/26/30	JPY	3,693,340	^(c)		(109,727	)		(109,188	)		(539	)
3.903^(a)	12M SOFR^(a)	11/30/30	$	304,230	^(c)		118,041			(107,412	)		225,453
3.979^(a)	12M SOFR^(a)	11/30/30		22,500	^(c)		(57,159	)		(4,979	)		(52,180	)
1M BID Average^(a)	12.750^(a)	01/02/31	BRL	59,120			(398,266	)		(125,203	)		(273,063	)
12.750^(a)	1M BID Average^(a)	01/02/31		27,240			183,504			70,348			113,156
2.500^(a)	12M EURO^(a)	04/16/31	EUR	52,340	^(c)		(101,170	)		438,623			(539,793	)
12M EURO^(a)	2.800^(a)	05/21/31		561,890	^(c)		3,173,354			678,264			2,495,090

GOLDMAN SACHS DYNAMIC BOND FUND

Schedule of Investments (continued)

June 30, 2026 (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)

3.000%^(a)	6M EURO^(e)	05/21/31	EUR	561,890	^(c)	$	(2,673,352	)	$	(262,398	)	$	(2,410,954	)
Mexico Interbank TIIE 28 Days^(f)	7.750%^(f)	09/11/31	MXN	409,790	^(c)		(24,528	)		(86,207	)		61,679
12M THOR^(b)	1.500^(b)	09/16/31	THB	94,710	^(c)		(17,560	)		(77,594	)		60,034
12M IBR^(b)	11.500^(b)	09/16/31	COP	34,547,800	^(c)		543,114			429,795			113,319
1.500^(a)	12M JYOR^(a)	09/16/31	JPY	136,510,000	^(c)		19,855,679			18,991,880			863,799
6M EURO^(e)	2.500^(a)	09/16/31	EUR	157,560	^(c)		(2,024,110	)		(2,686,485	)		662,375
12M GBP^(a)	3.750^(a)	09/16/31	GBP	124,670	^(c)		(2,486,646	)		(2,883,756	)		397,110
3M NZDOR^(b)	4.000^(e)	09/16/31	NZD	375,820	^(c)		2,817,543			1,280,020			1,537,523
6M PRIBOR^(e)	4.000^(a)	09/16/31	CZK	145,600	^(c)		(41,772	)		(48,972	)		7,200
6M BUBOR^(e)	6.500^(a)	09/16/31	HUF	3,623,659	^(c)		888,166			470,119			418,047
3M JIBAR^(b)	7.000^(b)	09/16/31	ZAR	402,620	^(c)		(419,661	)		(301,934	)		(117,727	)
12M SOFR^(a)	3.584^(a)	04/22/32	$	204,820	^(c)		(2,885,033	)		(2,484,534	)		(400,499	)
2.000^(a)	12M JYOR^(a)	01/11/33	JPY	10,773,773	^(c)		1,199,126			(660,779	)		1,859,905
3.976^(a)	12M SOFR^(a)	04/30/33	$	163,290	^(c)		(355,662	)		(35,496	)		(320,166	)
2.500^(a)	12M JYOR^(a)	05/22/33	JPY	9,867,110	^(c)		(36,029	)		(50,254	)		14,225
12M EURO^(a)	2.800^(a)	08/15/35	EUR	62,850	^(c)		827,157			230,973			596,184
6M EURO^(e)	3.300^(a)	04/21/36		76,730	^(c)		712,324			(71,322	)		783,646
12M EURO^(a)	3.000^(a)	06/19/36		224,870	^(c)		610,044			(175,511	)		785,555
3.200^(a)	6M EURO^(e)	06/19/36		224,870	^(c)		(869,936	)		(81,794	)		(788,142	)
8.000^(f)	Mexico Interbank TIIE 28 Days^(f)	09/04/36	MXN	79,970	^(c)		59,913			130,102			(70,189	)
12M CHFOR^(a)	0.750^(a)	09/16/36	CHF	47,100	^(c)		1,115,664			410,104			705,560
12M JYOR^(a)	1.750^(a)	09/16/36	JPY	17,457,000	^(c)		(7,804,732	)		(7,334,635	)		(470,097	)
4.000^(a)	12M GBP^(a)	09/16/36	GBP	10,940	^(c)		423,430			553,014			(129,584	)
3.750^(a)	12M SOFR^(a)	09/16/36	$	78,290	^(c)		1,811,607			1,960,953			(149,346	)
2.000^(b)	12M THOR^(b)	09/16/36	THB	189,810	^(c)		15,367			16,324			(957	)
6M EURO^(e)	2.750^(a)	09/16/36	EUR	51,750	^(c)		(911,926	)		(1,672,018	)		760,092
12M CDOR^(e)	3.000^(e)	09/16/36	CAD	24,330	^(c)		(232,444	)		(374,053	)		141,609
12M SOFR^(a)	3.750^(a)	09/16/36	$	13,200	^(c)		(305,443	)		(274,638	)		(30,805	)
7.750^(b)	3M JIBAR^(b)	09/16/36	ZAR	143,090	^(c)		39,028			172,329			(133,301	)
4.250^(e)	3M NZDOR^(b)	09/16/36	NZD	10,120	^(c)		(97,994	)		15,210			(113,204	)
3.000^(a)	3M STIBOR^(b)	09/16/36	SEK	299,090	^(c)		(605,709	)		(100,080	)		(505,629	)
6M PRIBOR^(e)	4.250^(a)	09/16/36	CZK	92,690	^(c)		4,693			(92,860	)		97,553
6M WIBOR^(e)	4.500^(a)	09/16/36	PLN	29,350	^(c)		134,698			(19,457	)		154,155
6M NIBOR^(e)	4.500^(a)	09/16/36	NOK	78,880	^(c)		148,793			87,409			61,384
6M AUDOR^(e)	5.000^(e)	09/16/36	AUD	61,290	^(c)		495,568			130,368			365,200
12M CLICP^(e)	5.250^(e)	09/16/36	CLP	881,800	^(c)		7,593			(6,232	)		13,825
2.750^(a)	6M EURO^(e)	09/16/36	EUR	158,010	^(c)		2,784,412			4,332,925			(1,548,513	)

GOLDMAN SACHS DYNAMIC BOND FUND

Schedule of Investments (continued)

June 30, 2026 (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)

3.894%^(a)	12M SOFR^(a)		04/22/37		$	114,770	^(c)	$	1,446,721		$	480,814		$	965,907
4.750^(a)	12M GBP^(a)		01/31/39		GBP	67,400	^(c)		(2,150,922	)		(1,273,656	)		(877,266	)
12M SOFR^(a)	4.629%^(a)		04/14/41		$	235,500	^(c)		500,085			(111,173	)		611,258
12M JYOR^(a)	2.160^(a)		08/02/44		JPY	19,077,244	^(c)		(7,423,494	)		(10,028,161	)		2,604,667
3.600^(a)	6M EURO^(e)		04/21/46		EUR	54,070	^(c)		(667,025	)		(217,916	)		(449,109	)
12M JYOR^(a)	4.500^(a)		05/21/46		JPY	12,451,000	^(c)		389,416			481,917			(92,501	)
12M JYOR^(a)	2.500^(a)		09/16/46			3,177,000	^(c)		(2,111,707	)		(1,788,887	)		(322,820	)
3.250^(a)	6M EURO^(e)		09/16/46		EUR	490	^(c)		(9,296	)		177			(9,473	)
3.100^(a)	12M EURO^(a)		08/15/54			27,047	^(c)		(720,713	)		(341,669	)		(379,044	)
4.048^(a)	12M SOFR^(a)		04/13/56		$	219,620	^(c)		(101,267	)		272,954			(374,221	)

TOTAL								$	13,316,638		$	742,779		$	12,573,859

(a)

Payments made annually.

(b)

Payments made quarterly.

(c)

Represents forward starting interest rate swaps whose effective dates of commencement of accruals and cash flows occur subsequent to June 30, 2026.

(d)

Payments made at maturity.

(e)

Payments made semi-annually.

(f)

Payments made monthly.

OVER-THE-COUNTER CREDIT DEFAULT SWAP CONTRACTS


Reference Obligation/Index	Financing Rate Received/(Paid) by the Fund^(a)		Credit Spread at June 30, 2026^(b)		Counterparty		Termination Date		Notional Amount (000s)		Value			Upfront Premiums (Received) Paid			Unrealized Appreciation/ (Depreciation)

Protection Sold:
CMBX.NA.AAA.17		0.500%		0.661%		MS & Co. Int. PLC		12/15/56	$	32,000	$	(283,231	)	$	(403,272	)	$	120,041

(a)

Payments made monthly.

(b)

CENTRALLY CLEARED CREDIT DEFAULT SWAP CONTRACTS


Referenced Obligation/Index	Financing Rate Received/(Paid) by the Fund^(a)		Credit Spread at June 30, 2026^(b)		Termination Date		Notional Amount (000s)		Value		Upfront Premiums (Received) Paid		Unrealized Appreciation/ (Depreciation)

Protection Sold:
CDX.NA.HY Ind 39		5.000%		1.696%		12/20/27	$	21,315	$	1,026,039	$	617,803	$	408,236
CDX.NA.HY Ind 46		5.000		3.040		06/20/31		68,399		5,601,886		4,403,534		1,198,352
CDX.NA.IG Ind 44		1.000		0.431		06/20/30		211,142		4,451,818		3,787,390		664,428
CDX.NA.IG Ind 45		1.000		0.468		12/20/30		727,674		15,941,818		14,461,180		1,480,638

TOTAL									$	27,021,561	$	23,269,907	$	3,751,654

(a)

Payments made quarterly.

(b)

GOLDMAN SACHS DYNAMIC BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

OVER-THE-COUNTER TOTAL RETURN SWAP CONTRACTS


Reference Obligation/Index^(a)	Financing Rate Paid/(Received) by the Fund^(b)		Counterparty		Termination Date^#		Notional Amount (000s)		Unrealized Appreciation/ (Depreciation)*

JPMBKTL6 Index		12MSOFR-0.570%		JPMorgan Securities, Inc.		07/13/26	$	95,015	$	(509,985	)
JPMBKTL7 Index		12MSOFR-0.570		JPMorgan Securities, Inc.		08/28/26		93,802		(212,190	)

TOTAL									$	(722,175	)

(a)

The top 50 components are shown below.

(b)

Payments made quarterly.

The Fund pays/receives annual coupon payments in accordance with the swap contract(s). On the termination date of the swap contract(s), the Fund will either receive from or pay to the counterparty an amount equal to the net of the accrued financing fees and the value of the reference security subtracted from the original notional cost (notional multiplied by the price change of the reference security, converted to U.S. Dollars).

There are no upfront payments on the swap contracts, therefore the unrealized gain (loss) on the swap contracts is equal to their market value.


A basket (JPMBKTL7) of Corporate Obligations

Corporate Obligations	Sector	Shares			Value			Weight

Fiserv Inc. 4,400, 07/01/49	Financials		(73	)	$	(5,821	)		1.2	%
Johnson & Johnson, 3.700, 03/01/46	Health Care		(73	)		(5,842	)		1.2
Comcast Corp, 3.750, 04/01/40	Communications		(73	)		(5,854	)		1.2
AbbVie, Inc., 4.250, 11/21/49	Health Care		(73	)		(5,978	)		1.2
Texas Instruments, 4.150, 05/15/48	Technology		(73	)		(6,007	)		1.2
Elevance Health, Inc., 4.375, 12/02/47	Health Care		(73	)		(6,013	)		1.2
Berkshire Hathaway Finance Corp, 4.250, 01/15/49	Financials		(73	)		(6,020	)		1.2
Caterpillar Inc, 3.803, 08/15/42	Industrials		(73	)		(6,086	)		1.3
Mitsubishi UFJ Financial Group Inc, 3.751, 07/18/39	Financials		(73	)		(6,217	)		1.3
Visa Inc, 4.300, 12/14/45	Financials		(73	)		(6,276	)		1.3
Chubb INA Holdings LLC, 4.350, 11/03/45	Financials		(73	)		(6,277	)		1.3
Walmart Inc, 4.500, 04/15/53	Consumer Staples		(73	)		(6,353	)		1.3
Novartis Capital Corp, 4.400, 05/06/44	Consumer Staples		(73	)		(6,448	)		1.3
Phillips 66, 4.875, 11/15/44	Energy		(73	)		(6,518	)		1.4
QUALCOMM Inc, 4.800, 05/20/45	Technology		(73	)		(6,529	)		1.4
Gilead Sciences Inc, 4.750, 03/01/46	Consumer Staples		(73	)		(6,555	)		1.4
Medtronic Inc, 4.625, 03/15/45	Consumer Staples		(73	)		(6,559	)		1.4
Intuit Inc, 5.500, 09/15/53	Technology		(73	)		(6,575	)		1.4
Intercontinental Exchange Inc, 4.950, 06/15/52	Financials		(73	)		(6,608	)		1.4
Energy Transfer LP, 5.400, 10/01/47	Energy		(73	)		(6,632	)		1.4
KLA Corp, 4.950, 07/15/52	Technology		(73	)		(6,636	)		1.4
Kenvue Inc, 5.050, 03/22/53	Consumer Staples		(73	)		(6,674	)		1.4
Enterprise Products Operating LLC, 4.850, 03/15/44	Energy		(73	)		(6,684	)		1.4
Abbott Laboratories, 4.900, 11/30/46	Consumer Staples		(73	)		(6,719	)		1.4
Eli Lilly & Co, 5.000, 02/09/54	Consumer Staples		(73	)		(6,749	)		1.4
Dow Chemical Co/The, 5.950, 03/15/55	Materials		(73	)		(6,791	)		1.4
BlackRock Funding Inc, 5.250, 03/14/54	Financials		(73	)		(6,893	)		1.4
BHP Billiton Finance USA Ltd, 5.000, 09/30/43	Materials		(73	)		(6,899	)		1.4
Shell Finance US Inc, 4.125, 05/11/35	Energy		(73	)		(6,903	)		1.4
Marsh & McLennan Cos Inc, 5.400, 03/15/55	Financials		(73	)		(6,927	)		1.4
Coca-Cola Co/The, 5.200, 01/14/55	Consumer Staples		(73	)		(6,972	)		1.4
RTX Corp, 5.375, 02/27/53	Industrials		(73	)		(7,001	)		1.5
PepsiCo, 5.250, 07/17/54	Consumer Staples		(73	)		(7,054	)		1.5
Waste Management Inc, 5.350, 10/15/54	Industrials		(73	)		(7,060	)		1.5
Burlington Northern Santa Fe LLC, 5.500, 03/15/55	Industrials		(73	)		(7,103	)		1.5
Anheuser-Busch InBev Worldwide Inc, 5.550, 01/23/49	Consumer Staples		(73	)		(7,193	)		1.5
Cooperatieve Rabobank UA, 5.250, 05/24/41	Financials		(73	)		(7,213	)		1.5
Devon Energy Corp, 5.600, 07/15/41	Energy		(73	)		(7,215	)		1.5
Eli Lilly & Co, 5.500, 02/12/55	Consumer Staples		(73	)		(7,260	)		1.5
Rio Tinto Finance USA PLC, 5.750, 03/14/55	Materials		(73	)		(7,391	)		1.5
Cisco Systems Inc, 5.500, 01/15/40	Communications		(73	)		(7,457	)		1.5
Bank of America Corp, 5.875, 02/07/42	Financials		(73	)		(7,597	)		1.6
ONEOK Inc, 6.625, 09/01/53	Energy		(73	)		(7,664	)		1.6
Home Depot Inc/The, 5.875, 12/16/36	Consumer Staples		(73	)		(7,793	)		1.6
Marathon Petroleum Corp, 6.500, 03/01/41	Energy		(73	)		(7,856	)		1.6
United Parcel Service Inc, 6.200, 01/15/38	Industrials		(73	)		(7,947	)		1.6
Enbridge Inc, 6.700, 11/15/53	Energy		(73	)		(8,046	)		1.7
Valero Energy Corp, 6.625, 06/15/37	Energy		(73	)		(8,048	)		1.7
ConocoPhillips, 6.500, 02/01/39	Energy		(73	)		(8,105	)		1.7
UnitedHealth Group Inc, 6.875, 02/15/38	Consumer Staples		(73	)		(8,354	)		1.7

GOLDMAN SACHS DYNAMIC BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)


A basket (JPMBKTL6) of Corporate Obligations

Corporate Obligations	Sector	Shares			Value			Weight

UnitedHealth Group Inc, 6.875, 02/15/38	Consumer Staples		(174	)	$	(19,819	)		1.7	%
ConocoPhillips, 6.500, 02/01/39	Energy		(174	)		(19,228	)		1.7
Valero Energy Corp, 6.625, 06/15/37	Energy		(174	)		(19,094	)		1.7
Enbridge Inc, 6.700, 11/15/53	Energy		(174	)		(19,089	)		1.7
United Parcel Service Inc, 6.200, 01/15/38	Industrials		(174	)		(18,854	)		1.6
Marathon Petroleum Corp, 6.500, 03/01/41	Energy		(174	)		(18,638	)		1.6
Home Depot Inc/The, 5.875, 12/16/36	Consumer Staples		(174	)		(18,488	)		1.6
ONEOK Inc, 6.625, 09/01/53	Energy		(174	)		(18,182	)		1.6
Bank of America Corp, 5.875, 02/07/42	Financials		(174	)		(18,025	)		1.6
Cisco Systems Inc, 5.500, 01/15/40	Communications		(174	)		(17,693	)		1.5
Rio Tinto Finance USA PLC, 5.750, 03/14/55	Materials		(174	)		(17,535	)		1.5
Eli Lilly & Co, 5.500, 02/12/55	Consumer Staples		(174	)		(17,225	)		1.5
Devon Energy Corp, 5.600, 07/15/41	Energy		(174	)		(17,117	)		1.5
Cooperatieve Rabobank UA, 5.250, 05/24/41	Financials		(174	)		(17,113	)		1.5
Anheuser-Busch InBev Worldwide Inc, 5.550, 01/23/49	Consumer Staples		(174	)		(17,065	)		1.5
Burlington Northern Santa Fe LLC, 5.500, 03/15/55	Industrials		(174	)		(16,851	)		1.5
Waste Management Inc, 5.350, 10/15/54	Industrials		(174	)		(16,749	)		1.5
PepsiCo, 5.250, 07/17/54	Consumer Staples		(174	)		(16,736	)		1.5
RTX Corp, 5.375, 02/27/53	Industrials		(174	)		(16,610	)		1.5
Coca-Cola Co/The, 5.200, 01/14/55	Consumer Staples		(174	)		(16,541	)		1.4
Marsh & McLennan Cos Inc, 5.400, 03/15/55	Financials		(174	)		(16,434	)		1.4
Shell Finance US Inc, 4.125, 05/11/35	Energy		(174	)		(16,376	)		1.4
BHP Billiton Finance USA Ltd, 5.000, 09/30/43	Materials		(174	)		(16,368	)		1.4
BlackRock Funding Inc, 5.250, 03/14/54	Financials		(174	)		(16,354	)		1.4
Dow Chemical Co/The, 5.950, 03/15/55	Materials		(174	)		(16,111	)		1.4
Eli Lilly & Co, 5.000, 02/09/54	Consumer Staples		(174	)		(16,013	)		1.4
Abbott Laboratories, 4.900, 11/30/46	Consumer Staples		(174	)		(15,940	)		1.4
Enterprise Products Operating LLC, 4.850, 03/15/44	Energy		(174	)		(15,859	)		1.4
Kenvue Inc, 5.050, 03/22/53	Consumer Staples		(174	)		(15,835	)		1.4
KLA Corp, 4.950, 07/15/52	Technology		(174	)		(15,743	)		1.4
Energy Transfer LP, 5.400, 10/01/47	Energy		(174	)		(15,734	)		1.4
Intercontinental Exchange Inc, 4.950, 06/15/52	Financials		(174	)		(15,677	)		1.4
Intuit Inc, 5.500, 09/15/53	Technology		(174	)		(15,600	)		1.4
Medtronic Inc, 4.625, 03/15/45	Consumer Staples		(174	)		(15,562	)		1.4
Gilead Sciences Inc, 4.750, 03/01/46	Consumer Staples		(174	)		(15,551	)		1.4
QUALCOMM Inc, 4.800, 05/20/45	Technology		(174	)		(15,491	)		1.4
Phillips 66, 4.875, 11/15/44	Energy		(174	)		(15,464	)		1.4
Novartis Capital Corp, 4.400, 05/06/44	Consumer Staples		(174	)		(15,298	)		1.3
Walmart Inc, 4.500, 04/15/53	Consumer Staples		(174	)		(15,072	)		1.3
Chubb INA Holdings LLC, 4.350, 11/03/45	Financials		(174	)		(14,892	)		1.3
Visa Inc, 4.300, 12/14/45	Financials		(174	)		(14,891	)		1.3
Mitsubishi UFJ Financial Group Inc, 3.751, 07/18/39	Financials		(174	)		(14,749	)		1.3
Caterpillar Inc, 3.803, 08/15/42	Industrials		(174	)		(14,438	)		1.3
Berkshire Hathaway Finance Corp, 4.250, 01/15/49	Financials		(174	)		(14,282	)		1.2
Elevance Health, Inc., 4.375, 12/02/47	Health Care		(174	)		(14,266	)		1.2
Texas Instruments, 4.150, 05/15/48	Technology		(174	)		(14,251	)		1.2
AbbVie, Inc., 4.250, 11/21/49	Health Care		(174	)		(14,182	)		1.2
Comcast Corp, 3.750, 04/01/40	Communications		(174	)		(13,887	)		1.2
Johnson & Johnson, 3.700, 03/01/46	Health Care		(174	)		(13,861	)		1.2
Fiserv Inc. 4,400, 07/01/49	Financials		(174	)		(13,811	)		1.2

GOLDMAN SACHS DYNAMIC BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

PURCHASED AND WRITTEN OPTIONS CONTRACTS — At June 30, 2026, 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
7M IRS	Barclays Bank PLC		3.500	%		01/04/2027		156,000,000	$	156,000,000		$	437,112		$	503,100		$	(65,988	)
2Y IRS	BNP Paribas SA		2.000			11/11/2026		21,760,000	EUR	21,760,000			6,563			327,067			(320,504	)
2Y IRS	Citibank NA		1.771			01/24/2028		16,245,000,000	JPY	16,245,000,000			289,542			617,749			(328,207	)
6M IRS	Deutsche Bank AG (London)		3.500			12/02/2026		155,000,000	$	155,000,000			354,981			445,625			(90,644	)

								16,577,760,000				$	1,088,198		$	1,893,541		$	(805,343	)

Puts
2Y IRS	Citibank NA		1.771			01/24/2028		16,245,000,004	JPY	16,245,000,004			772,321			617,749			154,572
1Y IRS	JPMorgan Securities, Inc.		1.690			06/23/2027		92,511,800,000		92,511,800,000			915,189			1,051,954			(136,765	)

								108,756,800,004				$	1,687,510		$	1,669,703		$	17,807

Total purchased option contracts								125,334,560,004				$	2,775,708		$	3,563,244		$	(787,536	)

Written option contracts
Calls
1M IRS	Barclays Bank PLC		4.137			07/08/2026		(27,390,000)	$	(27,390,000	)		(274,656	)		(178,035	)		(96,621	)
1M IRS	Barclays Bank PLC		3.968			07/27/2026		(28,520,000)		(28,520,000	)		(103,174	)		(167,555	)		64,381
1M IRS	Barclays Bank PLC		2.916			07/29/2026		(25,650,000)	EUR	(25,650,000	)		(137,711	)		(141,104	)		3,393
1M IRS	BNP Paribas SA		3.091			07/06/2026		(24,160,000)		(24,160,000	)		(429,786	)		(162,618	)		(267,168	)
1M IRS	BNP Paribas SA		2.981			07/20/2026		(24,810,000)		(24,810,000	)		(213,582	)		(140,721	)		(72,861	)
2Y IRS	BNP Paribas SA		2.085			11/11/2026		(6,400,000)		(6,400,000	)		(2,069	)		(326,983	)		324,914
1M IRS	Citibank NA		3.970			08/03/2026		(28,380,000)	$	(28,380,000	)		(125,008	)		(184,896	)		59,888
1M IRS	JPMorgan
	Securities, Inc.		3.100			07/13/2026		(24,490,000)	EUR	(24,490,000	)		(459,391	)		(163,769	)		(295,622	)
1M IRS	MS & Co. Int. PLC		4.036			07/20/2026		(28,060,000)	$	(28,060,000	)		(149,818	)		(163,590	)		13,772

								(217,860,000)				$	(1,895,195	)	$	(1,629,271	)	$	(265,924	)

Puts
1M IRS	Barclays Bank PLC		4.137			07/08/2026		(27,390,000)		(27,390,000	)		(16,897	)		(178,035	)		161,138
1M IRS	Barclays Bank PLC		3.968			07/27/2026		(28,520,000)		(28,520,000	)		(238,730	)		(167,555	)		(71,175	)
1M IRS	Barclays Bank PLC		2.916			07/29/2026		(25,650,000)	EUR	(25,650,000	)		(139,364	)		(141,104	)		1,740
1M IRS	BNP Paribas SA		3.091			07/06/2026		(24,160,000)		(24,160,000	)		(698	)		(162,618	)		161,920
1M IRS	BNP Paribas SA		2.981			07/20/2026		(24,810,000)		(24,810,000	)		(52,279	)		(140,721	)		88,442
1M IRS	Citibank NA		3.970			08/03/2026		(28,380,000)	$	(28,380,000	)		(258,099	)		(184,896	)		(73,203	)
1M IRS	JPMorgan Securities, Inc.		3.100			07/13/2026		(24,490,000)	EUR	(24,490,000	)		(6,590	)		(163,769	)		157,179
1M IRS	MS & Co. Int. PLC		4.036			07/20/2026		(28,060,000)	$	(28,060,000	)		(123,893	)		(163,590	)		39,697

								(211,460,000)				$	(836,550	)	$	(1,302,288	)	$	465,738

Total written option contracts								(429,320,000)				$	(2,731,745	)	$	(2,931,559	)	$	199,814

TOTAL								124,905,240,004				$	43,963		$	631,685		$	(587,722	)

GOLDMAN SACHS DYNAMIC BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

OVER-THE-COUNTER OPTIONS ON FOREIGN CURRENCY


Description	Counterparty	Exercise Price		Expiration Date		Number of Contracts		Notional Amount			Market Value			Premiums Paid (Received) by Fund			Unrealized Appreciation/ (Depreciation)

Purchased option contracts
Calls
Call USD/Put ILS	Citibank NA	$	3.000		09/16/2026		91,541,000	$	91,541,000		$	1,327,253		$	916,325		$	410,928

Puts
Put AUD/Call USD	Barclays Bank PLC	AUD	0.682		07/30/2026		66,902,000	AUD	66,902,000			185,603			308,088			(122,485	)
Put AUD/Call USD	BNP Paribas SA		0.693		07/23/2026		128,858,000		128,858,000			742,624			637,042			105,582
Put AUD/Call USD	BNP Paribas SA		0.687		07/30/2026		131,149,000		131,149,000			548,529			586,672			(38,143	)
Put EUR/Call USD	BNP Paribas SA	EUR	1.158		07/07/2026		77,864,000	EUR	77,864,000			1,150,615			388,314			762,301
Put EUR/Call USD	BNP Paribas SA		1.150		07/08/2026		77,864,000		77,864,000			645,636			353,225			292,411
Put EUR/Call USD	BNP Paribas SA		1.143		07/24/2026		79,256,000		79,256,000			481,859			386,529			95,330
Put EUR/Call USD	BNP Paribas SA		1.135		08/11/2026		80,950,000		80,950,000			376,911			483,556			(106,645	)
Put NZD/Call USD	BNP Paribas SA	NZD	0.596		07/08/2026		228,218,000	NZD	228,218,000			6,335,004			1,036,493			5,298,511
Put NZD/Call USD	BNP Paribas SA		0.589		07/31/2026		76,463,000		76,463,000			1,584,788			412,002			1,172,786
Put NZD/Call USD	BNP Paribas SA		0.564		08/04/2026		160,359,000		160,359,000			601,283			688,255			(86,972	)
Put USD/Call JPY	BNP Paribas SA	$	156.350		07/07/2026		89,972,000	$	89,972,000			34,819			376,533			(341,714	)
Put USD/Call KRW	BNP Paribas SA		1,490.000		07/03/2026		44,767,000		44,767,000			134			449,685			(449,551	)
Put AUD/Call USD	BofA Securities LLC	AUD	0.695		07/30/2026		64,093,000	AUD	64,093,000			494,468			311,626			182,842
Put EUR/Call USD	BofA Securities LLC	EUR	1.145		07/24/2026		78,273,000	EUR	78,273,000			551,633			459,245			92,388
Put EUR/Call USD	BofA Securities LLC		1.140		08/20/2026		80,042,000		80,042,000			564,375			575,939			(11,564	)
Put GBP/Call USD	BofA Securities LLC	GBP	1.335		07/08/2026		67,092,000	GBP	67,092,000			685,255			550,178			135,077
Put NZD/Call USD	BofA Securities LLC	NZD	0.596		07/01/2026		76,073,000	NZD	76,073,000			2,127,663			314,885			1,812,778
Put NZD/Call USD	BofA Securities LLC		0.575		07/31/2026		77,655,000		77,655,000			680,924			367,529			313,395
Put USD/Call JPY	BofA Securities LLC	$	159.150		07/07/2026		44,986,000	$	44,986,000			41,477			332,132			(290,655	)
Put USD/Call JPY	BofA Securities LLC		157.500		07/22/2026		90,722,000		90,722,000			139,168			420,678			(281,510	)
Put USD/Call JPY	BofA Securities LLC		157.200		08/20/2026		183,707,000		183,707,000			677,328			1,057,417			(380,089	)
Put AUD/Call USD	HSBC Bank PLC	AUD	0.703		07/23/2026		129,565,000	AUD	129,565,000			1,596,289			708,504			887,785
Put GBP/Call USD	HSBC Bank PLC	GBP	1.305		08/13/2026		70,249,000	GBP	70,249,000			338,529			552,002			(213,473	)
Put NZD/Call USD	HSBC Bank PLC	NZD	0.577		07/31/2026		77,000,000	NZD	77,000,000			781,100			355,056			426,044
Put USD/Call JPY	HSBC Bank PLC	$	160.000		08/20/2026		91,854,000	$	91,854,000			679,903			701,213			(21,310	)
Put USD/Call JPY	HSBC Bank PLC		158.200		08/28/2026		185,279,000		185,279,000			1,017,182			1,057,758			(40,576	)
Put USD/Call KRW	HSBC Bank PLC		1,449.500		07/03/2026		44,629,000		44,629,000			0			390,950			(390,950	)
Put EUR/Call USD	MS & Co. Int. PLC	EUR	1.160		07/24/2026		77,282,000	EUR	77,282,000			1,352,440			574,330			778,110
Put EUR/Call USD	MS & Co. Int. PLC		1.157		07/24/2026		78,934,000		78,934,000			1,185,728			430,632			755,096
Put EUR/Call USD	MS & Co. Int. PLC		1.128		07/29/2026		81,475,000		81,475,000			157,421			427,951			(270,530	)
Put NZD/Call USD	MS & Co. Int. PLC	NZD	0.577		07/15/2026		230,999,000	NZD	230,999,000			2,216,030			916,000			1,300,030
Put USD/Call JPY	Standard Chartered Bank	$	159.900		07/22/2026		45,361,000	$	45,361,000			149,510			283,552			(134,042	)
Put NZD/Call USD	UBS AG (London)	NZD	0.562		08/20/2026		240,539,000	NZD	240,539,000			1,000,289			1,130,675			(130,386	)

							3,358,431,000				$	29,124,517		$	18,024,646		$	11,099,871

Total purchased option contracts							3,449,972,000				$	30,451,770		$	18,940,971		$	11,510,799

Written option contracts
Calls
Call EUR/Put CAD	Barclays Bank PLC	EUR	1.613		07/17/2026		(19,814,000)	EUR	(19,814,000	)		(157,661	)		(128,338	)		(29,323	)
Call USD/Put SGD	Barclays Bank PLC	$	1.288		07/20/2026		(22,963,000)	$	(22,963,000	)		(127,697	)		(93,000	)		(34,697	)
Call EUR/Put SEK	BNP Paribas SA	EUR	10.965		07/21/2026		(19,986,000)	EUR	(19,986,000	)		(266,473	)		(142,088	)		(124,385	)
Call AUD/Put NZD	BofA Securities LLC	AUD	1.220		07/22/2026		(33,451,000)	AUD	(33,451,000	)		(85,043	)		(128,879	)		43,836
Call AUD/Put NZD	Citibank NA		1.208		07/15/2026		(32,391,000)		(32,391,000	)		(206,924	)		(126,591	)		(80,333	)
Call USD/Put ILS	Citibank NA	$	2.905		09/16/2026		(45,771,000)	$	(45,771,000	)		(1,407,321	)		(951,350	)		(455,971	)
Call EUR/Put SEK	HSBC Bank PLC	EUR	10.990		07/13/2026		(19,635,000)	EUR	(19,635,000	)		(203,911	)		(145,715	)		(58,196	)
Call AUD/Put NZD	JPMorgan Securities, Inc.	AUD	1.211		07/07/2026		(31,566,000)	AUD	(31,566,000	)		(139,411	)		(130,648	)		(8,763	)
Call EUR/Put CAD	MS & Co. Int. PLC	EUR	1.623		07/06/2026		(19,734,000)	EUR	(19,734,000	)		(32,131	)		(85,758	)		53,627

GOLDMAN SACHS DYNAMIC BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

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


Description	Counterparty	Exercise Price		Expiration Date		Number of Contracts		Notional Amount			Market Value			Premiums Paid (Received) by Fund			Unrealized Appreciation/ (Depreciation)

Written option contracts (continued)
Calls (continued)
Call EUR/Put PLN	MS & Co. Int. PLC	EUR	4.290		07/22/2026		(20,369,000)	EUR	(20,369,000	)	$	(109,549	)	$	(87,532	)	$	(22,017	)
Call EUR/Put CAD	Royal Bank of Canada (UK)		1.618		07/27/2026		(20,492,000)		(20,492,000	)		(130,066	)		(128,414	)		(1,652	)
Call USD/Put CAD	Royal Bank of Canada (UK)	$	1.413		07/09/2026		(22,955,000)	$	(22,955,000	)		(114,224	)		(89,295	)		(24,929	)
Call AUD/Put NZD	Standard Chartered Bank	AUD	1.220		07/17/2026		(32,626,000)	AUD	(32,626,000	)		(72,193	)		(119,534	)		47,341
Call AUD/Put NZD	UBS AG (London)		1.206		07/07/2026		(32,046,000)		(32,046,000	)		(236,226	)		(117,331	)		(118,895	)

							(373,799,000)				$	(3,288,830	)	$	(2,474,473	)	$	(814,357	)

Puts
Put AUD/Call USD	Barclays Bank PLC		0.695		07/30/2026		(64,093,000)		(64,093,000	)		(494,468	)		(681,154	)		186,686
Put EUR/Call CAD	Barclays Bank PLC	EUR	1.613		07/17/2026		(19,814,000)	EUR	(19,814,000	)		(46,569	)		(128,338	)		81,769
Put USD/Call SGD	Barclays Bank PLC	$	1.288		07/20/2026		(22,963,000)	$	(22,963,000	)		(49,531	)		(93,000	)		43,469
Put AUD/Call USD	BNP Paribas SA	AUD	0.703		07/23/2026		(129,565,000)	AUD	(129,565,000	)		(1,596,289	)		(1,519,259	)		(77,030	)
Put EUR/Call SEK	BNP Paribas SA	EUR	10.965		07/21/2026		(19,986,000)	EUR	(19,986,000	)		(39,735	)		(142,088	)		102,353
Put EUR/Call USD	BNP Paribas SA		1.157		07/24/2026		(78,934,000)		(78,934,000	)		(1,185,728	)		(885,019	)		(300,709	)
Put EUR/Call USD	BNP Paribas SA		1.128		07/29/2026		(81,475,000)		(81,475,000	)		(157,421	)		(213,091	)		55,670
Put NZD/Call USD	BNP Paribas SA	NZD	0.596		07/01/2026		(76,073,000)	NZD	(76,073,000	)		(2,127,663	)		(485,080	)		(1,642,583	)
Put NZD/Call USD	BNP Paribas SA		0.577		07/31/2026		(77,000,000)		(77,000,000	)		(781,100	)		(807,149	)		26,049
Put NZD/Call USD	BNP Paribas SA		0.575		07/31/2026		(77,655,000)		(77,655,000	)		(680,924	)		(706,971	)		26,047
Put USD/Call JPY	BNP Paribas SA	$	159.150		07/07/2026		(44,986,000)	$	(44,986,000	)		(41,477	)		(471,228	)		429,751
Put USD/Call KRW	BNP Paribas SA		1,449.500		07/03/2026		(44,629,000)		(44,629,000	)		0			(123,488	)		123,488
Put AUD/Call NZD	BofA Securities LLC	AUD	1.220		07/22/2026		(33,451,000)	AUD	(33,451,000	)		(130,205	)		(128,879	)		(1,326	)
Put EUR/Call USD	BofA Securities LLC	EUR	1.158		07/07/2026		(77,864,000)	EUR	(77,864,000	)		(1,150,615	)		(795,799	)		(354,816	)
Put EUR/Call USD	BofA Securities LLC		1.160		07/24/2026		(77,282,000)		(77,282,000	)		(1,352,440	)		(985,286	)		(367,154	)
Put USD/Call JPY	BofA Securities LLC	$	156.350		07/07/2026		(89,972,000)	$	(89,972,000	)		(34,819	)		(249,402	)		214,583
Put USD/Call JPY	BofA Securities LLC		159.900		07/22/2026		(45,361,000)		(45,361,000	)		(149,510	)		(433,697	)		284,187
Put USD/Call JPY	BofA Securities LLC		160.000		08/20/2026		(91,854,000)		(91,854,000	)		(679,903	)		(1,079,101	)		399,198
Put AUD/Call NZD	Citibank NA	AUD	1.208		07/15/2026		(32,391,000)	AUD	(32,391,000	)		(22,067	)		(126,591	)		104,524
Put EUR/Call USD	Deutsche Bank AG (London)	EUR	1.150		07/08/2026		(77,864,000)	EUR	(77,864,000	)		(645,636	)		(370,161	)		(275,475	)
Put AUD/Call USD	HSBC Bank PLC	AUD	0.693		07/23/2026		(128,858,000)	AUD	(128,858,000	)		(742,624	)		(340,383	)		(402,241	)
Put EUR/Call SEK	HSBC Bank PLC	EUR	10.990		07/13/2026		(19,635,000)	EUR	(19,635,000	)		(29,255	)		(145,715	)		116,460
Put GBP/Call USD	HSBC Bank PLC	GBP	1.335		07/08/2026		(67,092,000)	GBP	(67,092,000	)		(685,255	)		(419,497	)		(265,758	)
Put NZD/Call USD	HSBC Bank PLC	NZD	0.589		07/31/2026		(76,463,000)	NZD	(76,463,000	)		(1,584,788	)		(794,689	)		(790,099	)
Put USD/Call JPY	HSBC Bank PLC	$	157.200		08/20/2026		(183,707,000)	$	(183,707,000	)		(677,328	)		(687,064	)		9,736
Put USD/Call JPY	HSBC Bank PLC		161.100		08/28/2026		(92,639,000)		(92,639,000	)		(1,004,021	)		(1,075,353	)		71,332
Put AUD/Call NZD	JPMorgan Securities, Inc.	AUD	1.211		07/07/2026		(31,566,000)	AUD	(31,566,000	)		(6,119	)		(130,648	)		124,529
Put USD/Call KRW	JPMorgan Securities, Inc.	$	1,490.000		07/03/2026		(22,383,500)	$	(22,383,500	)		(67	)		(53,497	)		53,430
Put EUR/Call CAD	MS & Co. Int. PLC	EUR	1.623		07/06/2026		(19,734,000)	EUR	(19,734,000	)		(66,697	)		(85,758	)		19,061
Put EUR/Call PLN	MS & Co. Int. PLC		4.290		07/22/2026		(20,369,000)		(20,369,000	)		(40,613	)		(87,532	)		46,919
Put EUR/Call USD	MS & Co. Int. PLC		1.145		07/24/2026		(78,273,000)		(78,273,000	)		(551,633	)		(183,089	)		(368,544	)
Put EUR/Call USD	MS & Co. Int. PLC		1.143		07/24/2026		(79,256,000)		(79,256,000	)		(481,859	)		(939,822	)		457,963
Put NZD/Call USD	MS & Co. Int. PLC	NZD	0.596		07/08/2026		(228,218,000)	NZD	(228,218,000	)		(6,335,004	)		(2,015,913	)		(4,319,091	)
Put EUR/Call CAD	Royal Bank of Canada (UK)	EUR	1.618		07/27/2026		(20,492,000)	EUR	(20,492,000	)		(95,061	)		(128,193	)		33,132
Put USD/Call CAD	Royal Bank of Canada (UK)	$	1.413		07/09/2026		(22,955,000)	$	(22,955,000	)		(36,866	)		(89,295	)		52,429
Put AUD/Call NZD	Standard Chartered Bank	AUD	1.220		07/17/2026		(32,626,000)	AUD	(32,626,000	)		(112,808	)		(119,534	)		6,726
Put USD/Call JPY	Standard Chartered Bank	$	157.500		07/22/2026		(90,722,000)	$	(90,722,000	)		(139,168	)		(289,766	)		150,598
Put USD/Call KRW	Standard Chartered Bank		1,490.000		07/03/2026		(22,383,500)		(22,383,500	)		(67	)		(176,516	)		176,449
Put AUD/Call NZD	UBS AG (London)	AUD	1.206		07/07/2026		(32,046,000)	AUD	(32,046,000	)		(843	)		(117,331	)		116,488
Put NZD/Call USD	UBS AG (London)	NZD	0.577		07/15/2026		(230,999,000)	NZD	(230,999,000	)		(2,216,030	)		(892,082	)		(1,323,948	)

							(2,763,629,000)				$	(26,172,206	)	$	(19,196,458	)	$	(6,975,748	)

Total written option contracts							(3,137,428,000)				$	(29,461,036	)	$	(21,670,931	)	$	(7,790,105	)

TOTAL							312,544,000				$	990,734		$	(2,729,960	)	$	3,720,694

GOLDMAN SACHS DYNAMIC BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)



Currency Abbreviations:
AUD		— Australian Dollar
BRL		— Brazil Real
CAD		— Canadian Dollar
CHF		— Swiss Franc
CLP		— Chilean Peso
CNH		— Chinese Yuan Renminbi Offshore
COP		— Colombia Peso
CZK		— Czech Republic Koruna
EUR		— Euro
GBP		— British Pound
HUF		— Hungarian Forint
ILS		— Israeli Shekel
INR		— Indian Rupee
JPY		— Japanese Yen
KRW		— South Korean Won
MXN		— Mexican Peso
MYR		— Malaysia Ringgit
NOK		— Norwegian Krone
NZD		— New Zealand Dollar
PLN		— Polish Zloty
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
EURIBOR		— Euro Interbank Offered Rate
GO		— General Obligation
ICE		— Inter-Continental Exchange
LLC		— Limited Liability Company
LP		— Limited Partnership
PI		— Private Investment
PIK		— Payment in kind
PLC		— Public Limited Company
RB		— Revenue Bond
REMICS		— Real Estate Mortgage Investment Conduits
SOFR		— Secured Overnight Financing Rate
STACR		— Structured Agency Credit Risk

GOLDMAN SACHS DYNAMIC BOND FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)



Abbreviations:
1M IRS		— 1 Month Interest Rate Swaptions
1Y IRS		— 1 Year Interest Rate Swaptions
2Y IRS		— 2 Year Interest Rate Swaptions
6M IRS		— 6 Month Interest Rate Swaptions
7M IRS		— 7 Month Interest Rate Swaptions
AUDOR		— Australian Dollar Offered Rate
BUBOR		— Budapest Interbank Offered Rate
CDOR		— Canadian Dollar Offered Rate
CDX.NA.HY Ind 39		— CDX North America High Yield Index 39
CDX.NA.HY Ind 46		— CDX North America High Yield Index 46
CDX.NA.IG Ind 44		— CDX North America Investment Grade Index 44
CDX.NA.IG Ind 45		— CDX North America Investment Grade Index 45
CHFOR		— Swiss Franc Offered Rate
CLICP		— Sinacofi Chile Interbank Rate
CMBX		— Commercial Mortgage Backed Securities Index
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
MIBOR		— Mumbai Interbank Offered Rate
MS & Co. Int. PLC		— Morgan Stanley & Co. International PLC
NIBOR		— Norwegian Interbank Offered Rate
NZDOR		— New Zealand Dollar Offered Rate
PRIBOR		— Prague Interbank 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 GLOBAL CORE FIXED INCOME FUND

Schedule of Investments

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – 38.2%
Collateralized Mortgage Obligations – 8.9%
Interest Only – 0.1%
Federal Home Loan Mortgage Corp. REMICS Series 5002, Class SJ (-1X 1 mo. USD Term SOFR + 5.986%)
$	754,137		2.358	%^(a)(b)	07/25/50	$ 77,676
Federal Home Loan Mortgage Corp. REMICS Series 4583, Class ST (-1X 1 mo. USD Term SOFR + 5.886%)
	321,173		2.293	^(a)(b)	05/15/46	31,417
Federal Home Loan Mortgage Corp. REMICS Series 4314, Class SE (-1X 1 mo. USD Term SOFR + 5.936%)
	86,938		2.343	^(a)(b)	03/15/44	7,306
Federal National Mortgage Association REMICS Series 2017-31, Class SG (-1X 1 mo. USD Term SOFR + 5.986%)
	250,968		2.358	^(a)(b)	05/25/47	25,811
Federal National Mortgage Association REMICS Series 2012-5, Class SA (-1X 1 mo. USD Term SOFR + 5.836%)
	116,690		2.208	^(a)(b)	02/25/42	9,809
Government National Mortgage Association REMICS Series 2014-132, Class SL (-1X 1 mo. USD Term SOFR + 5.986%)
	77,106		2.347	^(a)(b)(c)	10/20/43	2,911
Government National Mortgage Association REMICS Series 2015-129, Class IC
	71,641		4.500	^(c)(d)	09/16/45	13,166
Government National Mortgage Association REMICS Series 2019-1, Class SN (-1X 1 mo. USD Term SOFR + 5.936%)
	115,639		2.297	^(a)(b)(c)	01/20/49	11,825
Government National Mortgage Association REMICS Series 2019-78, Class SE (-1X 1 mo. USD Term SOFR + 5.986%)
	78,744		2.347	^(a)(b)(c)	06/20/49	8,018
Government National Mortgage Association REMICS Series 2020-78, Class DI
	439,365		4.000	^(c)(d)	06/20/50	95,111
Government National Mortgage Association REMICS Series 2013-124, Class CS (-1X 1 mo. USD Term SOFR + 5.936%)
	181,694		2.297	^(a)(b)(c)	08/20/43	16,246
Government National Mortgage Association REMICS Series 2015-123, Class SP (-1X 1 mo. USD Term SOFR + 6.136%)
	110,824		2.497	^(a)(b)(c)	09/20/45	12,156
Government National Mortgage Association REMICS Series 2016-27, Class IA
	72,034		4.000	^(c)(d)	06/20/45	9,203
Government National Mortgage Association REMICS Series 2018-122, Class SE (-1X 1 mo. USD Term SOFR + 6.086%)
	230,494		2.447	^(a)(b)(c)	09/20/48	24,841
Government National Mortgage Association REMICS Series 2010-20, Class SE (-1X 1 mo. USD Term SOFR + 6.136%)
	213,692		2.497	^(a)(b)(c)	02/20/40	19,993
Government National Mortgage Association REMICS Series 2016-1, Class ST (-1X 1 mo. USD Term SOFR + 6.086%)
	83,291		2.447	^(a)(b)(c)	01/20/46	8,834
Government National Mortgage Association REMICS Series 2019-151, Class IA
	1,039,973		3.500	^(c)(d)	12/20/49	197,522
Government National Mortgage Association REMICS Series 2016-138, Class GI
	195,913		4.000	^(c)(d)	10/20/46	38,745


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Interest Only – (continued)
Government National Mortgage Association REMICS Series 2015-167, Class AS (-1X 1 mo. USD Term SOFR + 6.136%)
$	67,208		2.497	%^(a)(b)(c)	11/20/45	$ 6,949

						617,539

Regular Floater^(b)– 0.6%
Chase Home Lending Mortgage Trust Series 2026-4, Class A11 (1 mo. USD Term SOFR + 1.300%)
	1,910,329		4.928	^(c)(e)	02/25/57	1,914,977
Federal Home Loan Mortgage Corp. REMICS Series 5502, Class FG (1 mo. USD Term SOFR + 1.000%)
	676,342		4.628		02/25/55	677,234
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2024-DNA3, Class M2 (1 mo. USD Term SOFR + 1.450%)
	266,054		5.078	^(c)(e)	10/25/44	266,081
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2024-DNA3, Class A1 (1 mo. USD Term SOFR + 1.050%)
	280,125		4.678	^(c)(e)	10/25/44	280,600
Federal National Mortgage Association REMICS Series 2025-11, Class FB (1 mo. USD Term SOFR + 1.000%)
	1,497,928		4.628		03/25/55	1,509,151

						4,648,043

Sequential Fixed Rate – 4.5%
Angel Oak Mortgage Trust Series 2025-7, Class A1
	1,869,771		5.509	^(c)(e)(f)	06/25/70	1,874,735
Angel Oak Mortgage Trust Series 2025-12, Class A1A
	1,989,163		5.039	^(c)(e)(f)	12/25/70	1,984,211
CIM Trust Series 2025-I1, Class A2
	767,386		5.908	^(c)(e)(f)	10/25/69	769,721
COLT Mortgage Loan Trust Series 2025-6, Class A1
	1,613,643		5.529	^(c)(e)(f)	08/25/70	1,618,398
COLT Mortgage Loan Trust Series 2025-7, Class A1
	2,449,930		5.470	^(c)(e)(f)	06/25/70	2,455,296
Federal National Mortgage Association REMICS Series 2011-99, Class DB
	90,603		5.000		10/25/41	91,021
Federal National Mortgage Association REMICS Series 2012-111, Class B
	13,032		7.000		10/25/42	13,859
Federal National Mortgage Association REMICS Series 2012-153, Class B
	53,213		7.000		07/25/42	56,631
Federal National Mortgage Association REMICS Series 2011-52, Class GB
	106,456		5.000		06/25/41	106,977
JP Morgan Mortgage Trust Series 2024-VIS2, Class A1
	1,450,935		5.853	^(c)(e)(f)	11/25/64	1,457,014
JP Morgan Mortgage Trust Series 2025-VIS1, Class A1A
	1,280,407		5.493	^(c)(e)(f)	08/25/55	1,282,335
MFA Trust Series 2025-NQM5, Class A1A
	5,261,908		5.186	^(c)(e)(f)	11/25/70	5,234,832
Morgan Stanley Residential Mortgage Loan Trust Series 2025-DSC1, Class A1
	1,335,325		5.562	^(c)(e)(f)	03/25/70	1,338,124
Morgan Stanley Residential Mortgage Loan Trust Series 2025-DSC3, Class A1A
	2,311,419		4.912	^(c)(e)(f)	09/25/70	2,294,122

GOLDMAN SACHS GLOBAL CORE FIXED INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Sequential Fixed Rate – (continued)
New Residential Mortgage Loan Trust Series 2025-NQM1, Class A1
$	839,156		5.643	%^(c)(e)(f)	01/25/65	$ 842,939
OBX Trust Series 2024-NQM2, Class A1
	828,306		5.878	^(c)(e)(f)	12/25/63	829,157
OBX Trust Series 2024-NQM14, Class A1
	1,865,048		4.944	^(c)(e)(f)	09/25/64	1,858,768
OBX Trust Series 2025-NQM3, Class A1
	2,067,674		5.648	^(c)(e)(f)	12/01/64	2,075,453
OBX Trust Series 2025-NQM11, Class A1A
	1,768,219		5.418	^(c)(e)(f)	05/25/65	1,771,487
OBX Trust Series 2025-NQM21, Class A1A
	1,914,054		4.989	^(c)(e)(f)	10/25/65	1,900,710
OBX Trust Series 2025-NQM15, Class A1A
	1,834,234		5.143	^(c)(e)(f)	07/27/65	1,830,513
Santander Mortgage Asset Receivable Trust Series 2025-NQM1, Class A1
	1,260,503		5.545	^(c)(e)(f)	01/25/65	1,262,621
Verus Securitization Trust Series 2023-INV2, Class A3
	464,386		7.079	^(c)(e)(f)	08/25/68	462,903
Verus Securitization Trust Series 2025-1, Class A1A
	2,071,074		5.620	^(c)(e)(f)	01/25/70	2,078,846

						35,490,673

Sequential Floating Rate^(b)(c)– 3.7%
Angel Oak Mortgage Trust Series 2021-4, Class A1
	825,263		1.035	^(e)	01/20/65	702,500
Angel Oak Mortgage Trust Series 2021-3, Class A1
	511,468		1.068	^(e)	05/25/66	443,800
Angel Oak Mortgage Trust Series 2019-6, Class B1
	1,825,000		3.941	^(e)	11/25/59	1,772,038
Angel Oak Mortgage Trust Series 2025-11, Class A1
	20,495		4.975	^(e)	10/25/70	20,348
Angel Oak Mortgage Trust Series 2025-12, Class A1
	1,825,349		5.039	^(e)	12/25/70	1,819,925
Chase Home Lending Mortgage Trust Series 2024-3, Class A5
	275,000		6.000	^(e)	02/25/55	275,926
Chase Home Lending Mortgage Trust Series 2024-3, Class A5A
	425,000		5.500	^(e)	02/25/55	420,540
COLT Mortgage Loan Trust Series 2021-HX1, Class A3
	1,800,942		1.451	^(e)	10/25/66	1,566,002
COLT Mortgage Loan Trust Series 2025-10, Class A1
	2,141,821		5.088	^(e)	10/25/70	2,134,622
Countrywide Alternative Loan Trust Series 2005-38, Class A1 (1 yr. MTA + 1.500%)
	26,489		5.244		09/25/35	23,948
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2021-DNA5, Class M2 (1 mo. USD Term SOFR + 1.650%)
	32,952		5.278	^(e)	01/25/34	33,047
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2024-DNA2, Class M1 (1 mo. USD Term SOFR + 1.200%)
	750,783		4.828	^(e)	05/25/44	751,621
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2021-R01, Class 1M2 (1 mo. USD Term SOFR + 1.550%)
	115,193		5.178	^(e)	10/25/41	115,347


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Sequential Floating Rate^(b)(c)– (continued)
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2021-R03, Class 1M2 (1 mo. USD Term SOFR + 1.650%)
$	270,500		5.278	%^(e)	12/25/41	$ 271,333
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2022-R05, Class 2M2 (1 mo. USD Term SOFR + 3.000%)
	224,557		6.628	^(e)	04/25/42	227,240
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2024-R01, Class 1M2 (1 mo. USD Term SOFR + 1.800%)
	450,000		5.428	^(e)	01/25/44	453,131
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2024-R02, Class 1M2 (1 mo. USD Term SOFR + 1.800%)
	1,845,000		5.428	^(e)	02/25/44	1,855,292
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2024-R04, Class 1M2 (1 mo. USD Term SOFR + 1.650%)
	1,590,947		5.278	^(e)	05/25/44	1,595,167
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2024-R03, Class 2M2 (1 mo. USD Term SOFR + 1.950%)
	250,000		5.578	^(e)	03/25/44	251,976
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2024-R05, Class 2M2 (1 mo. USD Term SOFR + 1.700%)
	813,035		5.328	^(e)	07/25/44	814,949
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2024-R06, Class 1M2 (1 mo. USD Term SOFR + 1.600%)
	463,770		5.228	^(e)	09/25/44	464,530
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2025-R03, Class 2A1 (1 mo. USD Term SOFR + 1.450%)
	674,763		5.078	^(e)	03/25/45	678,112
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2025-R01, Class 1M2 (1 mo. USD Term SOFR + 1.500%)
	1,850,000		5.128	^(e)	01/25/45	1,852,754
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2026-R01, Class 2M2 (1 mo. USD Term SOFR + 1.350%)
	1,380,000		4.978	^(e)	01/25/46	1,377,599
GCAT Trust Series 2021-NQM5, Class A2
	1,260,098		1.417	^(e)	07/25/66	1,055,428
HarborView Mortgage Loan Trust Series 2006-6, Class 3A1A
	132,836		4.643		08/19/36	98,562
JP Morgan Mortgage Trust Series 2021-LTV2, Class A1
	867,412		2.520	^(e)	05/25/52	716,364
JP Morgan Mortgage Trust Series 2022-LTV1, Class A2
	286,697		3.508	^(e)	07/25/52	258,314
JP Morgan Mortgage Trust Series 2024-VIS1, Class A1
	1,079,668		5.990	^(e)	07/25/64	1,083,065
JP Morgan Mortgage Trust Series 2024-3, Class A4
	1,504,015		3.000	^(e)	05/25/54	1,356,461
JP Morgan Mortgage Trust Series 2024-4, Class A5A
	700,000		6.000	^(e)	10/25/54	705,320

GOLDMAN SACHS GLOBAL CORE FIXED INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Sequential Floating Rate^(b)(c)– (continued)
JP Morgan Mortgage Trust Series 2024-1, Class A4
$	265,604		6.000	%^(e)	06/25/54	$ 265,717
MFA Trust Series 2025-NQM4, Class A1
	1,442,661		5.229	^(e)	08/25/70	1,436,747
Mill City Mortgage Loan Trust Series 2017-2, Class A3
	76,211		3.250	^(e)	07/25/59	74,715
Sequoia Mortgage Trust Series 2004-10, Class A3A (6 mo. USD Term SOFR + 1.088%)
	22,052		4.776		11/20/34	20,422
Towd Point Mortgage Trust Series 2020-1, Class A2A
	530,000		3.100	^(e)	01/25/60	484,161
Verus Securitization Trust Series 2021-8, Class A1
	89,736		2.824	^(e)	11/25/66	81,032
Verus Securitization Trust Series 2025-9, Class A1
	2,124,316		4.935	^(e)	10/27/70	2,106,535

						29,664,590

TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS						$ 70,420,845

Commercial Mortgage-Backed Securities – 12.5%
Regular Floater^(b)(e)– 0.6%
BFLD Commercial Mortgage Trust Series 2024-UNIV, Class A (1 mo. USD Term SOFR + 1.493%)
$	1,600,000		5.118	%	11/15/41	$ 1,601,427
TPG Trust Series 2024-WLSC, Class A (1 mo. USD Term SOFR + 2.133%)
	2,350,000		5.758		11/15/29	2,365,222
WCORE Commercial Mortgage Trust Series 2024-CORE, Class A (1 mo. USD Term SOFR + 1.492%)
	900,000		5.118		11/15/41	901,673

						4,868,322

Sequential Fixed Rate – 2.7%
Bank Series 2024-BNK47, Class A5
	1,250,000		5.716	^(c)	06/15/57	1,301,941
Bank5 Series 2024-5YR7, Class A3
	1,200,000		5.769	^(c)	06/15/57	1,226,348
Bank5 Series 2024-5YR11, Class AS
	575,000		6.139	^(c)	11/15/57	588,854
Bank5 Series 2025-5YR14, Class A3
	1,500,000		5.646	^(c)	04/15/58	1,536,112
Bank5 Series 2026-5YR20, Class A3
	1,600,000		5.104	^(c)	02/15/59	1,610,659
Benchmark Mortgage Trust Series 2023-B39, Class A5
	1,125,000		5.754	^(c)	07/15/56	1,169,507
BMO Mortgage Trust Series 2023-C7, Class A5
	2,300,000		6.160	^(c)	12/15/56	2,436,188
BWAY Mortgage Trust Series 2013-1515, Class A2
	985,163		3.454	^(c)(e)	03/10/33	949,174
Citigroup Commercial Mortgage Trust Series 2017-P8, Class D
	400,000		3.000	^(c)(e)	09/15/50	298,861
COMM Mortgage Trust Series 2024-277P, Class A
	1,825,000		6.338	^(e)	08/10/44	1,886,186
DOLP Trust Series 2021-NYC, Class A
	700,000		2.956	^(e)	05/10/41	623,500


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Sequential Fixed Rate – (continued)
JP Morgan Chase Commercial Mortgage Securities Trust Series 2019-OSB, Class B
$	1,300,000		3.598	%^(c)(e)	06/05/39	$ 1,214,873
JP Morgan Chase Commercial Mortgage Securities Trust Series 2025-NSLB, Class A
	1,600,000		6.234	^(e)	06/05/42	1,642,295
ROCK Trust Series 2024-CNTR, Class A
	3,325,000		5.388	^(e)	11/13/41	3,358,049
ROCK Trust Series 2024-CNTR, Class D
	1,750,000		7.109	^(e)	11/13/41	1,808,812

						21,651,359

Sequential Floating Rate – 9.2%
ALA Trust Series 2025-OANA, Class A (1 mo. USD Term SOFR + 1.743%)
	1,950,000		5.369	^(b)(e)	06/15/40	1,957,236
Bank5 Series 2024-5YR10, Class AS
	400,000		5.637	^(c)	10/15/57	403,495
Bank5 Series 2025-5YR16, Class AS
	2,200,000		5.751	^(b)(c)	08/15/63	2,233,127
Bank5 Series 2026-5YR22, Class A3
	1,750,000		5.713	^(b)(c)	06/15/59	1,804,932
Bank5 Trust Series 2025-5YR13, Class AS
	1,050,000		6.096	^(b)(c)	01/15/58	1,076,406
BBCMS Mortgage Trust Series 2018-TALL, Class A (1 mo. USD Term SOFR + 0.919%)
	1,775,000		4.545	^(b)(e)	03/15/37	1,687,021
BBCMS Mortgage Trust Series 2018-TALL, Class B (1 mo. USD Term SOFR + 1.168%)
	275,000		4.794	^(b)(e)	03/15/37	255,659
BFLD Commercial Mortgage Trust Series 2025-5MW, Class A
	2,550,000		4.830	^(b)(e)	10/10/42	2,519,763
BFLD Commercial Mortgage Trust Series 2025-660F, Class B (1 mo. USD Term SOFR + 1.800%)
	2,250,000		5.425	^(b)(e)	11/15/42	2,258,356
BFLD Trust Series 2025-EWEST, Class B (1 mo. USD Term SOFR + 1.900%)
	1,750,000		5.525	^(b)(e)	06/15/42	1,750,681
BSTN Commercial Mortgage Trust Series 2025-1C, Class A
	1,800,000		5.548	^(b)(e)	06/15/44	1,823,070
BX Commercial Mortgage Trust Series 2024-VLT5, Class A
	1,700,000		5.591	^(b)(e)	11/13/46	1,691,743
BX Commercial Mortgage Trust Series 2026-CSMO, Class A (1 mo. USD Term SOFR + 1.400%)
	1,750,000		5.025	^(b)(e)	02/15/43	1,753,427
BX Trust Series 2024-BIO, Class A (1 mo. USD Term SOFR + 1.642%)
	2,050,000		5.267	^(b)(e)	02/15/41	2,050,953
BX Trust Series 2025-ROIC, Class A (1 mo. USD Term SOFR + 1.144%)
	1,445,932		4.769	^(b)(e)	03/15/30	1,443,368
BX Trust Series 2025-TAIL, Class A (1 mo. USD Term SOFR + 1.400%)
	1,550,000		5.025	^(b)(e)	06/15/35	1,550,558
Durst Commercial Mortgage Trust Series 2025-151, Class A
	1,850,000		5.317	^(b)(e)	08/10/42	1,857,351
Durst Commercial Mortgage Trust Series 2025-151, Class B
	2,250,000		5.768	^(b)(e)	08/10/42	2,267,694

GOLDMAN SACHS GLOBAL CORE FIXED INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Sequential Floating Rate – (continued)
Durst Commercial Mortgage Trust Series 2025-151, Class C
$	1,025,000		6.019	%^(b)(e)	08/10/42	$ 1,037,323
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates Series KF153, Class AS (1 mo. USD Term SOFR + 0.680%)
	602,712		4.272	^(b)(c)	02/25/33	603,263
Houston Galleria Mall Trust Series 2025-HGLR, Class A
	975,000		5.644	^(b)(e)	02/05/45	996,285
Hudson Yards Mortgage Trust Series 2025-SPRL, Class D
	750,000		6.551	^(b)(e)	01/13/40	766,219
Hudson Yards Mortgage Trust Series 2025-SPRL, Class A
	3,100,000		5.649	^(b)(e)	01/13/40	3,151,380
IRV Trust Series 2025-200P, Class A
	2,100,000		5.471	^(b)(c)(e)	03/14/47	2,114,033
IRV Trust Series 2025-200P, Class C
	675,000		5.921	^(b)(c)(e)	03/14/47	671,123
IRV Trust Series 2025-200P, Class D
	750,000		6.371	^(b)(c)(e)	03/14/47	758,651
JP Morgan Chase Commercial Mortgage Securities Trust Series 2022-NLP, Class B (1 mo. USD Term SOFR + 1.357%)
	962,757		4.982	^(b)(e)	04/15/37	949,264
JP Morgan Chase Commercial Mortgage Securities Trust Series 2024-OMNI, Class A
	550,000		5.990	^(b)(e)	10/05/39	553,384
KRE Commercial Mortgage Trust Series 2025-AIP4, Class A (1 mo. USD Term SOFR + 1.300%)
	1,588,438		4.925	^(b)(e)	03/15/42	1,586,339
LBTY Commercial Mortgage Trust Series 2026-225L, Class A
	1,450,000		4.746	^(b)(e)	02/10/43	1,424,588
LBTY Commercial Mortgage Trust Series 2026-225L, Class B
	1,000,000		5.048	^(b)(e)	02/10/43	983,099
LEX Mortgage Trust Series 2024-BBG, Class A
	1,875,000		5.036	^(b)(c)(e)	10/13/33	1,867,237
MAD Commercial Mortgage Trust Series 2025-11MD, Class D
	1,450,000		6.571	^(b)(e)	10/15/42	1,460,555
Manhattan West Mortgage Trust Series 2026-2MW, Class A
	1,900,000		5.499	^(b)(e)	06/10/48	1,913,784
MSWF Commercial Mortgage Trust Series 2023-2, Class A5
	850,000		6.014	^(b)(c)	12/15/56	896,280
NYC Commercial Mortgage Trust Series 2025-3BP, Class B (1 mo. USD Term SOFR + 1.692%)
	1,200,000		5.318	^(b)(e)	02/15/42	1,199,941
NYC Commercial Mortgage Trust Series 2025-300P, Class A
	1,850,000		4.879	^(b)(e)	07/13/42	1,829,897
NYC Commercial Mortgage Trust Series 2025-11X, Class A (1 mo. USD Term SOFR + 1.743%)
	2,200,000		5.368	^(b)(e)	10/15/40	2,208,676
NYC Commercial Mortgage Trust Series 2025-11X, Class B (1 mo. USD Term SOFR + 2.093%)
	1,300,000		5.718	^(b)(e)	10/15/40	1,303,856
NYC Commercial Mortgage Trust Series 2026-9W57, Class A
	3,300,000		5.053	^(b)(c)(e)	06/06/40	3,284,810
NYC Commercial Mortgage Trust Series 2026-9W57, Class B
	1,400,000		5.353	^(b)(c)(e)	06/06/40	1,393,144
PENN Commercial Mortgage Trust Series 2025-P11, Class A
	2,000,000		5.522	^(b)(e)	08/10/42	2,018,608


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Sequential Floating Rate – (continued)
SCG Trust Series 2025-SNIP, Class A (1 mo. USD Term SOFR + 1.500%)
$	2,550,000		5.125	%^(b)(e)	09/15/42	$ 2,555,926
TEXAS Commercial Mortgage Trust Series 2025-TWR, Class C (1 mo. USD Term SOFR + 2.142%)
	350,000		5.767	^(b)(e)	04/15/42	348,639
UBS Commercial Mortgage Trust Series 2017-C2, Class AS
	2,325,000		3.740	^(b)(c)	08/15/50	2,290,142
Wells Fargo Commercial Mortgage Trust Series 2024-1CHI, Class A
	1,600,000		5.484	^(b)(e)	07/15/35	1,601,072
Wells Fargo Commercial Mortgage Trust Series 2024-1CHI, Class B
	1,000,000		5.935	^(b)(e)	07/15/35	1,000,316

						73,152,674

TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES						$ 99,672,355

Federal Agencies – 16.8%
Federal Home Loan Mortgage Corp. – 0.0%
$	374		5.000	%	01/01/33	$ 376
	59		5.000		06/01/33	59
	1,052		5.000		07/01/33	1,059
	1,391		5.000		08/01/33	1,401
	269		5.000		10/01/33	271
	750		5.000		11/01/33	756
	291		5.000		12/01/33	293
	969		5.000		02/01/34	976
	517		5.000		03/01/34	522
	630		5.000		04/01/34	634
	949		5.000		05/01/34	956
	18,612		5.000		06/01/34	18,745
	342		5.000		11/01/34	345
	4,169		5.000		04/01/35	4,198
	1		5.000		11/01/35	1
	5,281		5.000		01/01/40	5,311
	3,568		4.000		06/01/40	3,452
	27,260		4.000		02/01/41	26,429
	2,677		4.000		11/01/41	2,583

						68,367

Government National Mortgage Association – 4.1%
	127,856		4.000		11/20/44	121,958
	12,027		4.000		05/20/45	11,464
	276,221		4.000		07/20/45	263,106
	191,529		4.000		01/20/46	182,285
	62,873		4.500		02/20/48	61,751
	21,646		4.500		03/20/48	21,240
	75,509		4.500		04/20/48	74,021
	173,921		4.500		05/20/48	170,493
	698,901		4.000		07/20/48	661,992
	240,227		4.500		08/20/48	235,267
	134,282		5.000		08/20/48	135,214
	705,635		4.000		09/20/48	669,899
	157,254		5.000		09/20/48	158,347
	155,630		5.000		10/20/48	156,614
	625,407		5.000		11/20/48	629,361
	261,628		5.000		12/20/48	263,118
	873,723		4.500		01/20/49	854,590

GOLDMAN SACHS GLOBAL CORE FIXED INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Government National Mortgage Association – (continued)
$	444,801		5.000	%	01/20/49	$ 447,057
	235,216		4.500		02/20/49	229,992
	166,762		4.500		03/20/49	163,110
	248,801		5.000		03/20/49	250,219
	493,043		3.000		08/20/49	440,736
	367,716		4.500		10/20/49	359,663
	142,169		4.500		12/20/49	139,056
	1,602,237		3.000		03/20/50	1,427,340
	597,206		3.000		07/20/51	530,552
	302,750		2.500		09/20/51	258,906
	709,192		2.500		10/20/51	608,483
	442,276		2.500		11/20/51	379,332
	649,570		3.000		12/20/51	576,868
	1,359,370		2.500		12/20/51	1,164,857
	8,018,843		4.500		10/20/52	7,781,574
	2,000,000		2.000		TBA-30yr^(g)	1,638,288
	1,000,000		5.500		TBA-30yr^(g)	1,004,861
	9,000,000		6.000		TBA-30yr^(g)	9,167,399
	1,000,000		6.500		TBA-30yr^(g)	1,036,287

						32,275,300

Uniform Mortgage-Backed Security – 12.7%
	93,069		4.500		07/01/36	92,568
	3,730		4.500		12/01/36	3,711
	3,664		4.500		05/01/38	3,626
	5,985		4.500		05/01/39	5,933
	4,959		4.500		06/01/39	4,916
	3,644		4.500		09/01/39	3,606
	5,925		4.500		10/01/39	5,863
	2,762		4.500		03/01/40	2,733
	34,283		4.500		04/01/40	33,929
	3,486		4.500		12/01/40	3,450
	35,714		4.500		01/01/41	35,345
	11,230		4.500		04/01/41	11,099
	16,612		4.500		06/01/41	16,418
	16,169		4.500		07/01/41	15,980
	24,449		4.500		08/01/41	24,184
	67,116		4.500		09/01/41	66,333
	39,299		4.500		10/01/41	38,841
	47,358		4.500		11/01/41	46,806
	44,182		4.500		12/01/41	43,667
	34,029		4.500		01/01/42	33,632
	2,879		4.500		03/01/42	2,851
	7,238		4.500		04/01/42	7,157
	22,716		3.000		12/01/42	21,022
	55,174		3.000		01/01/43	50,778
	70,513		3.000		04/01/43	64,542
	162,209		4.500		06/01/45	159,685
	1,239,826		4.000		08/01/45	1,191,465
	649,056		4.500		11/01/47	634,652
	2,035,038		4.000		01/01/48	1,933,242
	11,351		4.500		08/01/48	11,031
	198,355		4.500		09/01/48	193,830
	132,515		5.000		11/01/48	133,098
	671,493		3.000		02/01/49	604,864
	9,490		4.500		03/01/49	9,209
	73,395		3.500		07/01/49	67,766
	677,647		4.000		07/01/49	643,294


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Uniform Mortgage-Backed Security – (continued)
$	307,859		4.500	%	10/01/50	$ 299,200
	1,955,119		3.000		12/01/50	1,735,603
	120,291		2.500		03/01/51	102,799
	5,007,324		2.000		03/01/51	4,052,054
	2,136,682		2.500		05/01/51	1,813,907
	611,217		2.000		07/01/51	492,484
	802,440		2.000		08/01/51	646,280
	2,140,898		2.500		09/01/51	1,822,508
	595,090		2.500		10/01/51	507,626
	621,624		2.500		11/01/51	530,261
	1,570,806		2.000		01/01/52	1,271,795
	680,511		2.000		02/01/52	546,655
	1,116,683		2.500		02/01/52	939,212
	385,459		2.000		03/01/52	309,724
	4,992,697		2.500		03/01/52	4,199,235
	822,927		4.500		04/01/52	795,419
	921,031		2.000		04/01/52	740,066
	722,565		3.000		08/01/52	641,437
	695,461		5.500		09/01/52	708,823
	321,324		2.500		09/01/52	270,354
	1,462,633		5.500		11/01/52	1,490,734
	1,986,154		6.000		11/01/52	2,063,403
	1,287,982		6.000		12/01/52	1,335,650
	640,168		6.000		01/01/53	664,060
	697,496		5.500		04/01/53	706,756
	4,496,942		4.500		05/01/53	4,375,015
	402,861		2.500		01/01/54	338,894
	18,000,000		2.500		TBA-30yr^(g)	15,036,329
	5,000,000		4.000		TBA-30yr^(g)	4,671,289
	11,000,000		5.500		TBA-30yr^(g)	11,036,523
	15,000,000		6.000		TBA-30yr^(g)	15,323,437
	8,000,000		4.500		TBA-30yr^(g)	7,903,438
	7,000,000		6.500		TBA-30yr^(g)	7,240,078

						100,832,174

TOTAL FEDERAL AGENCIES						$ 133,175,841

TOTAL MORTGAGE-BACKED OBLIGATIONS (Cost $305,210,402)						$ 303,269,041



Sovereign Debt Obligations – 27.9%
British Pound – 0.7%
U.K. Gilts
GBP	1,990,000		3.500	%	01/22/45	$ 2,065,726
	840,000		1.500		07/31/53	489,153
	220,000		1.750		07/22/57	130,551
	3,330,000		3.500		07/22/68	3,035,769

						5,721,199

Canadian Dollar – 0.8%
Province of British Columbia
CAD	2,000,000		4.950		06/18/40	1,519,619
Province of Ontario
	2,300,000		4.650		06/02/41	1,695,797

GOLDMAN SACHS GLOBAL CORE FIXED INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Sovereign Debt Obligations – (continued)
Canadian Dollar – (continued)
Province of Quebec
GBP	2,390,000		2.250	%	09/15/26	$ 3,158,137

						6,373,553

Chinese Yuan Renminbi – 2.0%
China Government Bonds
CNY	58,720,000		1.650		05/15/35	8,614,180
	23,780,000		1.980		04/25/45	3,392,942
	26,320,000		1.880		04/25/55	3,596,127

						15,603,249

Colombia Peso – 0.3%
Colombia TES
COP	3,681,200,000		12.500		02/27/30	1,080,637
	1,586,200,000		7.750		09/18/30	397,626
	1,759,700,000		11.750		01/24/35	504,987
	890,400,000		9.250		05/28/42	211,401

						2,194,651

Euro – 17.6%
European Financial Stability Facility^(h)
EUR	1,170,000		0.875		04/10/35	1,107,453
European Union
	6,632,868		1.625		12/04/29	7,316,718
	820,000		0.200		06/04/36	699,841
Finland Government Bonds
	1,190,000		1.500		09/15/32	1,252,795
France Treasury Bills BTF⁽ⁱ⁾
	69,460,000		0.000		08/05/26	79,192,767
French Republic Government Bonds OAT
	7,350,000		3.500		11/25/33	8,503,590
	1,760,000		1.250		05/25/34	1,719,244
	1,030,000		4.500		04/25/41	1,247,914
	310,000		3.250		05/25/45	313,185
	210,000		2.000		05/25/48	163,396
	800,000		1.750		05/25/66	461,272
Indonesia Government International Bonds^(c)
	1,250,000		4.100		03/04/34	1,406,826
Ireland Government Bonds
	430,000		0.200		10/18/30	443,513
	920,000		0.350		10/18/32	905,034
Italy Buoni Poliennali Del Tesoro
	5,400,000		0.000	⁽ⁱ⁾	08/01/26	6,157,576
	3,220,000		0.900		04/01/31	3,345,876
	1,680,000		6.000		05/01/31	2,180,053
	1,130,000		3.250		03/01/38	1,232,249
	1,370,000		4.450		09/01/43	1,636,586
	1,170,000		2.150		09/01/52	886,446
	357,000		4.500		10/01/53	417,702
	100,000		2.800		03/01/67	81,581
Kingdom of Belgium Government Bonds
	1,690,000		0.350		06/22/32	1,657,198
	250,000		2.150		06/22/66	169,048
Netherlands Government Bonds
	709,181		2.500		07/15/34	789,663
	673,445		0.000	⁽ⁱ⁾	01/15/38	538,419
	838,544		3.750		01/15/42	1,011,392
	687,236		2.000		01/15/54	585,864


Principal Amount		Interest Rate			Maturity Date	Value

Sovereign Debt Obligations – (continued)
Euro – (continued)
Portugal Obrigacoes do Tesouro OT
EUR	1,200,000		1.950	%	06/15/29	$ 1,346,878
Region Wallonne Belgium
	1,300,000		2.875		01/14/38	1,342,457
Republic of Austria Government Bonds
	1,270,000		0.000	⁽ⁱ⁾	10/20/28	1,368,288
	280,000		2.100	^(j)	09/20/17	189,765
	280,000		0.850	^(k)	06/30/20	97,700
Romania Government International Bonds
	630,000		2.124		07/16/31	640,569
	610,000		4.625	^(e)	03/04/33	675,749
	1,130,000		5.375	^(e)	06/07/33	1,304,062
Spain Government Bonds
	870,000		1.250		10/31/30	934,567
	3,430,000		2.550		10/31/32	3,833,015
	650,000		0.850		07/30/37	567,920
	700,000		2.900		10/31/46	694,092
	1,110,000		3.450		07/30/66	1,120,036

						139,538,299

Indonesia Rupiah – 0.3%
Indonesia Treasury Bonds
IDR	10,285,000,000		6.500		07/15/30	562,281
	7,702,000,000		6.500		02/15/31	418,915
	7,391,000,000		6.375		04/15/32	397,867
	12,788,000,000		6.750		07/15/35	694,093
	5,281,000,000		7.125		06/15/38	292,403

						2,365,559

Israeli Shekel – 0.2%
Israel Government Bonds
ILS	2,430,000		2.000		03/31/27	808,408
	2,500,000		1.300		04/30/32	743,642

						1,552,050

Japanese Yen – 3.6%
Japan Government Five Year Bonds
JPY	958,350,000		1.100		12/20/29	5,787,351
Japan Government Forty Year Bonds
	292,700,000		2.200		03/20/64	1,218,091
	249,100,000		3.100		03/20/65	1,308,367
Japan Government Ten Year Bonds
	245,900,000		0.200		06/20/32	1,353,595
	768,800,000		1.400		03/20/35	4,319,550
Japan Government Thirty Year Bonds
	1,442,900,000		1.400		09/20/52	5,246,070
Japan Government Twenty Year Bonds
	903,000,000		1.100		09/20/42	3,987,317
	1,167,350,000		1.600		03/20/44	5,396,396

						28,616,737

Mexican Peso – 0.2%
Mexico Bonos
MXN	39,000,000		7.750		11/23/34	2,072,927

Peruvian Nuevo Sol – 0.0%
Peru Government Bonds
PEN	500,000		7.600		08/12/39	156,553

GOLDMAN SACHS GLOBAL CORE FIXED INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Sovereign Debt Obligations – (continued)
Romania New Leu – 0.1%
Romania Government Bonds
RON	1,375,000		6.700	%	02/25/32	$ 300,594
	2,165,000		6.750		04/25/35	473,769
	990,000		6.900		10/29/36	217,931

						992,294

Singapore Dollar – 0.2%
Singapore Government Bonds
SGD	1,320,000		3.375		09/01/33	1,116,269
	790,000		2.750		03/01/35	647,189

						1,763,458

South Korean Won – 0.4%
Korea Treasury Bonds
KRW	2,598,070,000		1.875		06/10/29	1,589,850
	2,641,660,000		1.375		12/10/29	1,570,277

						3,160,127

Thailand Baht – 0.2%
Thailand Government Bonds
THB	6,350,000		2.650		06/17/28	196,169
	6,710,000		2.875		12/17/28	209,518
	70,000		3.390		06/17/37	2,346
	9,116,000		3.450		06/17/43	294,434
	17,150,000		4.000		06/17/55	600,224

						1,302,691

United States Dollar – 1.3%
Chile Government International Bonds^(c)
$	430,000		3.100		05/07/41	329,165
Export-Import Bank of Korea
	390,000		5.000		01/11/28	394,107
	330,000		5.125		01/11/33	340,989
Hungary Government International Bonds
	2,040,000		6.125		05/22/28	2,088,450
Korea Hydro & Nuclear Power Co. Ltd.^(e)
	630,000		4.250		07/27/27	630,019
Mexico Government International Bonds^(c)
	930,000		5.625		02/09/34	915,306
	710,000		6.750		02/09/56	697,220
	1,291,000		3.771		05/24/61	774,084
	1,410,000		3.750		04/19/71	808,635
Panama Government International Bonds^(c)
	200,000		6.875		01/31/36	218,276
Peru Government International Bonds^(c)
	10,000		2.780		12/01/60	5,474
	100,000		3.230	^(l)	07/28/21	55,501
Philippines Government International Bonds
	470,000		3.700		03/01/41	383,069
Republic of Poland Government International Bonds^(c)
	600,000		5.125		09/18/34	603,804
	650,000		5.500		03/18/54	618,520
Romania Government International Bonds
	240,000		3.000	^(e)	02/27/27	236,700
	70,000		6.375		01/30/34	70,980
Saudi Government International Bonds
	830,000		4.875		07/18/33	825,335


Principal Amount		Interest Rate			Maturity Date	Value

Sovereign Debt Obligations –(continued)
United States Dollar –(continued)
State of Israel
$	400,000		3.800	%	05/13/60	$ 270,464
Uruguay Government International Bonds^(c)
	31,914		4.375		01/23/31	31,962
	57,058		5.442		02/14/37	58,610

						10,356,670

TOTAL SOVEREIGN DEBT OBLIGATIONS (Cost $237,772,033)						$221,770,017



Corporate Obligations – 24.3%
Aerospace & Defense^(c)– 0.9%
Boeing Co.
$	4,954,000		5.150	%	05/01/30	$ 5,014,043
	1,634,000		6.528		05/01/34	1,776,517
L3Harris Technologies, Inc.
	50,000		4.400		06/15/28	49,829

						6,840,389

Agriculture^(c)– 0.3%
Altria Group, Inc.
	875,000		4.500		08/06/30	868,175
BAT Capital Corp.
	50,000		3.557		08/15/27	49,512
BAT International Finance PLC
GBP	948,000		2.250		06/26/28	1,196,713
EUR	200,000		2.250		01/16/30	221,050

						2,335,450

Automotive^(c)– 0.6%
Ford Motor Credit Co. LLC
$	975,000		5.800		03/05/27	979,904
	818,000		5.850		05/17/27	823,931
General Motors Financial Co., Inc.
	650,000		5.000		04/09/27	652,392
Hyundai Capital America(e)
	941,000		1.650		09/17/26	935,514
Traton Finance Luxembourg SA
EUR	1,000,000		3.375		01/14/28	1,144,805

						4,536,546

Banks – 10.2%
Australia & New Zealand Banking Group Ltd.^(b)(c) (5 yr. EURIBOR ICE Swap + 1.320%)
	715,000		3.706		07/31/35	817,114
Banco Bilbao Vizcaya Argentaria SA
$	1,600,000		4.150		03/03/29	1,577,040
Banco Santander SA
	1,000,000		3.800		02/23/28	987,290
(1 yr. CMT + 1.250%)
	1,000,000		5.552	^(b)(c)	03/14/28	1,006,460
Bank of America Corp.(b)(c)
(Secured Overnight Financing Rate + 1.570%)
	2,993,000		5.819		09/15/29	3,062,617
(Secured Overnight Financing Rate + 1.630%)
	2,125,000		5.202		04/25/29	2,144,975

GOLDMAN SACHS GLOBAL CORE FIXED INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Banks – (continued)
(Secured Overnight Financing Rate + 2.150%)
$	375,000		2.592	%	04/29/31	$ 346,058
Bank of Ireland Group PLC^(b)(c)(5 yr. EUR Swap + 4.150%)
EUR	400,000		6.750		03/01/33	477,908
Barclays PLC^(b)(c)
(1 yr. EUR Swap + 1.750%)
	1,671,000		4.918		08/08/30	1,995,259
(Secured Overnight Financing Rate + 1.230%)
$	1,250,000		5.367		02/25/31	1,267,450
(Secured Overnight Financing Rate + 1.490%)
	605,000		5.674		03/12/28	609,876
(Secured Overnight Financing Rate + 1.560%)
	639,000		4.942		09/10/30	640,291
(Secured Overnight Financing Rate + 1.740%)
	573,000		5.690		03/12/30	585,062
BPCE SA
EUR	300,000		1.750		04/26/27	340,147
CaixaBank SA^(b)(c)
(-1X 3 mo. EUR EURIBOR + 1.000%)
	300,000		0.750		05/26/28	336,325
(3 mo. EUR EURIBOR + 0.620%)
	300,000		0.625		01/21/28	338,759
Citigroup, Inc.^(b)(c)
(3 mo. EUR EURIBOR + 0.784%)
	1,418,000		2.928		10/22/30	1,602,579
(Secured Overnight Financing Rate + 1.364%)
$	1,750,000		5.174		02/13/30	1,768,585
Danske Bank AS ^(b)(c)(e)(1 yr. CMT + 1.750%)
	1,275,000		4.298		04/01/28	1,273,343
Deutsche Bank AG^(b)(c)(3 mo. EUR EURIBOR + 2.950%)
EUR	2,100,000		5.000		09/05/30	2,513,458
HSBC Holdings PLC^(b)(c)(Secured Overnight Financing Rate + 1.040%)
$	975,000		5.130		11/19/28	981,464
Huntington Bancshares, Inc.^(b)(c)
(Secured Overnight Financing Rate + 1.276%)
	750,000		5.272		01/15/31	758,670
(Secured Overnight Financing Rate + 2.020%)
	817,000		6.208		08/21/29	840,987
ING Groep NV^(b)(c)
(-1X 5 yr. EUR Swap + 1.150%)
EUR	700,000		1.000		11/16/32	777,889
(Secured Overnight Financing Rate + 1.830%)
$	400,000		4.017		03/28/28	398,488
Intesa Sanpaolo SpA^(b)(c)(e)(1 yr. CMT + 0.950%)
	1,325,000		5.200		06/29/32	1,329,373
JPMorgan Chase & Co.^(b)(c)
(Secured Overnight Financing Rate + 0.930%)
	3,500,000		4.255		10/22/31	3,422,370
(Secured Overnight Financing Rate + 1.160%)
	1,750,000		5.581		04/22/30	1,788,203
(Secured Overnight Financing Rate + 1.560%)
	3,125,000		4.323		04/26/28	3,119,187
Kreditanstalt fuer Wiederaufbau^(h)
EUR	3,500,000		3.125		10/10/28	4,042,890
	4,070,000		2.625		04/26/29	4,646,894


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Banks – (continued)
M&T Bank Corp.^(b)(c)
(5 yr. CMT + 1.430%)
$	275,000		5.400	%	07/30/35	$ 274,695
(Secured Overnight Financing Rate + 0.930%)
	525,000		4.833		01/16/29	526,118
(Secured Overnight Financing Rate + 1.400%)
	1,650,000		5.179		07/08/31	1,662,194
(Secured Overnight Financing Rate + 1.610%)
	1,200,000		5.385		01/16/36	1,199,556
(Secured Overnight Financing Rate + 2.800%)
	630,000		7.413		10/30/29	666,679
Macquarie Group Ltd.^(b)(c)(e)(3 mo. USD Term SOFR + 1.634%)
	380,000		3.763		11/28/28	374,893
Morgan Stanley^(b)(c)
(3 mo. EUR EURIBOR + 0.699%)
EUR	620,000		3.485		06/11/30	712,379
(Secured Overnight Financing Rate + 0.913%)
$	2,500,000		4.133		10/18/29	2,465,675
(Secured Overnight Financing Rate + 1.100%)
	1,141,000		4.654		10/18/30	1,134,827
(Secured Overnight Financing Rate + 1.450%)
	1,150,000		5.173		01/16/30	1,160,304
(Secured Overnight Financing Rate + 1.590%)
	3,325,000		5.164		04/20/29	3,351,101
NatWest Group PLC^(b)(c)
(-1X 3 mo. EUR EURIBOR + 0.889%)
EUR	1,750,000		0.670		09/14/29	1,894,054
(-1X 3 mo. EUR EURIBOR + 0.949%)
	2,252,000		0.780		02/26/30	2,413,755
Nykredit Realkredit AS
	1,310,000		4.625		01/19/29	1,548,685
Permanent TSB Group Holdings PLC^(b)(c)
(1 yr. EURIBOR ICE Swap + 3.500%)
	265,000		6.625		04/25/28	311,385
	1,020,000		6.625		06/30/29	1,238,712
Santander U.K. Group Holdings PLC^(b)(c)(Secured Overnight Financing Rate + 1.070%)
$	600,000		4.320		09/22/29	593,946
Shinhan Bank Co. Ltd.^(e)
	240,000		4.500		04/12/28	239,858
Skandinaviska Enskilda Banken AB^(b)(c)(5 yr. EURIBOR ICE Swap + 1.900%)
EUR	1,325,000		5.000		08/17/33	1,564,980
Sumitomo Mitsui Financial Group, Inc.
	1,375,000		0.632		10/23/29	1,446,991
(Secured Overnight Financing Rate + 1.050%)
$	2,875,000		4.934	^(b)(c)	07/07/32	2,865,512
U.S. Bancorp^(b)(c)
(Secured Overnight Financing Rate + 1.560%)
	725,000		5.384		01/23/30	737,202
(Secured Overnight Financing Rate + 2.020%)
	225,000		5.775		06/12/29	229,766
UBS Group AG^(b)(c)
(1 yr. CMT + 1.520%)
	1,112,000		5.428	^(e)	02/08/30	1,127,490
(-1X 1 yr. EURIBOR ICE Swap + 0.770%)
EUR	509,000		0.650		01/14/28	574,750

GOLDMAN SACHS GLOBAL CORE FIXED INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Banks – (continued)
(3 mo. USD Term SOFR + 1.410%)
$	2,800,000		3.869	%^(e)	01/12/29	$ 2,767,800
(Secured Overnight Financing Rate + 1.730%)
	1,950,000		3.091	^(e)	05/14/32	1,789,340
Wells Fargo & Co.^(b)(c)(Secured Overnight Financing Rate + 1.500%)
	175,000		5.198		01/23/30	176,986

						80,846,644

Beverages^(c)– 0.1%
Bacardi Ltd.^(e)
	1,200,000		4.700		05/15/28	1,196,844
Constellation Brands, Inc.
	25,000		4.650		11/15/28	25,011

						1,221,855

Biotechnology^(c)– 0.1%
Amgen, Inc.
	650,000		5.150		03/02/28	656,234

Building Materials^(c)– 0.2%
Carrier Global Corp.
	145,000		2.493		02/15/27	143,380
Cemex SAB de CV
	460,000		5.750		06/05/36	458,390
Owens Corning
	975,000		3.500		02/15/30	934,596

						1,536,366

Chemicals^(c)(e)– 0.1%
International Flavors & Fragrances, Inc.
	53,000		1.832		10/15/27	51,179
	600,000		2.300		11/01/30	541,056

						592,235

Commercial Services – 0.5%
DP World Crescent Ltd.
	200,000		4.848		09/26/28	198,334
	750,000		5.500	^(e)	05/08/35	751,125
Motability Operations Group PLC^(c)
EUR	1,247,000		3.625		07/24/29	1,441,350
Quanta Services, Inc.^(c)
$	847,000		4.750		08/09/27	849,346
RELX Finance BV^(c)
EUR	437,000		3.750		06/12/31	509,457

						3,749,612

Computers^(c)– 0.1%
Dell International LLC/EMC Corp.
$	550,000		5.300		10/01/29	559,196

Diversified Financial Services – 1.4%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust^(c)
	1,375,000		4.875		04/01/28	1,380,940
	244,000		3.000		10/29/28	234,979
	200,000		5.100		01/19/29	201,844
Ally Financial, Inc.^(c)
	650,000		7.100		11/15/27	669,442


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Diversified Financial Services – (continued)
Avolon Holdings Funding Ltd.^(c)(e)
$	1,036,000		4.950	%	01/15/28	$ 1,038,756
Compute Financing LLC
	4,200,000		0.000		06/15/34	4,187,553
Macquarie Airfinance Holdings Ltd.^(c)(e)
	850,000		5.200		03/27/28	851,904
Nomura Holdings, Inc.
	1,025,000		5.166		07/14/31	1,027,716
Sumisho Air Lease Corp.^(c)
	1,300,000		5.300		02/01/28	1,310,920

						10,904,054

Electrical – 0.8%
Dominion Energy, Inc.^(c)
	925,000		4.600		05/15/28	925,407
DTE Energy Co.^(c)
	700,000		4.950		07/01/27	703,409
E.ON International Finance BV
GBP	417,000		6.375		06/07/32	586,765
Electricite de France SA^(c)(e)
$	1,450,000		4.500		09/21/28	1,445,404
Enel SpA^(b)(c)
(-1X 5 yr. EUR Swap + 1.719%)
EUR	523,000		1.375		06/08/27	583,573
(5 yr. EUR Swap + 2.580%)
	935,000		3.375		08/24/26	1,068,416
Sempra^(c)
$	700,000		3.400		02/01/28	686,819
Southern Power Co.^(c)
	475,000		4.250		10/01/30	466,616
Teollisuuden Voima OYJ^(c)
EUR	250,000		1.375		06/23/28	276,278

						6,742,687

Engineering & Construction^(c)– 0.1%
Mexico City Airport Trust
$	540,000		3.875	^(e)	04/30/28	526,770
	200,000		5.500	^(e)	10/31/46	171,500
	200,000		5.500		07/31/47	171,270

						869,540

Environmental^(c)– 0.1%
Veralto Corp.
	1,050,000		5.350		09/18/28	1,064,700

Food & Drug Retailing^(c)– 0.9%
Campbell’s Co.
	1,000,000		5.200		03/21/29	1,008,920
J.M. Smucker Co.
	1,225,000		5.900		11/15/28	1,260,660
Mars, Inc.^(e)
	875,000		4.800		03/01/30	877,572
	800,000		5.000		03/01/32	805,384
	3,575,000		5.200		03/01/35	3,589,014

						7,541,550

GOLDMAN SACHS GLOBAL CORE FIXED INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Food Service^(c)(e)– 0.1%
Sodexo, Inc.
$	1,025,000		5.150	%	08/15/30	$ 1,031,488

Gas^(c)– 0.1%
NiSource, Inc.
	600,000		5.200		07/01/29	609,072
Southern Co. Gas Capital Corp.
	375,000		4.050		09/15/28	371,070

						980,142

Healthcare Providers & Services^(c)– 0.3%
Cigna Group
	300,000		4.375		10/15/28	298,722
HCA, Inc.
	250,000		3.375		03/15/29	241,535
Solventum Corp.
	378,000		5.400		03/01/29	384,422
UnitedHealth Group, Inc.
	1,775,000		4.250		01/15/29	1,766,090

						2,690,769

Insurance^(e)– 0.1%
Corebridge Global Funding
	925,000		5.200		06/24/29	933,806

Internet – 0.4%
Booking Holdings, Inc.^(c)
EUR	729,000		3.500		03/01/29	841,460
Netflix, Inc.
	1,800,000		4.625		05/15/29	2,146,577
Prosus NV^(c)(e)
$	200,000		3.832		02/08/51	134,000

						3,122,037

Iron/Steel^(c)– 0.2%
Steel Dynamics, Inc.
	1,275,000		1.650		10/15/27	1,229,534
Vale Overseas Ltd.
	350,000		6.400		06/28/54	356,650

						1,586,184

Lodging^(c)– 0.3%
Choice Hotels International, Inc.
	248,000		3.700		01/15/31	234,053
Las Vegas Sands Corp.
	530,000		5.625		06/15/28	536,352
	200,000		6.000		06/14/30	205,461
Marriott International, Inc.
	515,000		5.000		10/15/27	518,507
	573,000		4.650		12/01/28	573,338
	135,000		4.875		05/15/29	135,992

						2,203,703

Machinery-Diversified^(c)– 0.1%
Otis Worldwide Corp.
	225,000		5.250		08/16/28	227,898
Xylem, Inc.
	500,000		5.200		06/01/33	506,705

						734,603


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Media^(c)– 0.0%
Comcast Corp.
$	300,000		4.150	%	10/15/28	$ 297,294

Mining^(c)(e)– 0.2%
Glencore Funding LLC
	775,000		4.875		03/12/29	778,348
	1,150,000		5.371		04/04/29	1,168,043

						1,946,391

Multi-National – 1.2%
Asian Development Bank
EUR	3,120,000		0.100		06/17/31	3,123,077
European Investment Bank
	1,240,000		0.875		01/14/28	1,380,284
	4,410,000		2.250		03/15/30	4,968,573

						9,471,934

Oil Field Services – 0.1%
BP Capital Markets PLC
	300,000		1.594		07/03/28	333,683
Saudi Arabian Oil Co.^(c)(e)
$	330,000		5.750		07/17/54	313,186
TotalEnergies SE^(b)(c)(5 yr. EUR Swap + 3.350%)
EUR	300,000		3.369		10/06/26	342,986

						989,855

Pharmaceuticals^(c)– 0.5%
BMS Ireland Capital Funding DAC
	1,200,000		2.973		11/10/30	1,361,563
Cencora, Inc.
	900,000		2.875		05/22/28	1,024,916
CVS Health Corp.
$	325,000		4.780		03/25/38	304,668
Pfizer Netherlands International Finance BV
EUR	1,031,000		2.875		05/19/29	1,173,697

						3,864,844

Pipelines – 0.3%
Abu Dhabi Crude Oil Pipeline LLC^(e)
$	250,000		4.600		11/02/47	223,694
Enbridge, Inc.^(c)
	350,000		6.000		11/15/28	360,500
Energy Transfer LP^(c)
	750,000		6.100		12/01/28	773,437
	250,000		5.250		04/15/29	253,365
Galaxy Pipeline Assets Bidco Ltd.
	200,000		2.625	^(e)	03/31/36	174,714
	526,324		2.940		09/30/40	437,312
Williams Cos., Inc.^(c)
	350,000		2.600		03/15/31	316,806

						2,539,828

Real Estate^(c)– 0.3%
Blackstone Property Partners Europe Holdings SARL
EUR	1,050,000		1.000		05/04/28	1,150,721
CBRE Services, Inc.
$	258,000		5.500		04/01/29	263,261

GOLDMAN SACHS GLOBAL CORE FIXED INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Real Estate^(c)– (continued)
Logicor Financing SARL
EUR	550,000		3.250	%	11/13/28	$ 626,469
	325,000		1.625		01/17/30	347,252

						2,387,703

Real Estate Investment Trust^(c)– 0.1%
American Homes 4 Rent LP
$	125,000		2.375		07/15/31	110,488
Host Hotels & Resorts LP
	275,000		4.250		12/15/28	271,991
Realty Income Corp.
	300,000		2.100		03/15/28	288,270

						670,749

Retailing^(c)– 0.3%
AutoNation, Inc.
	200,000		1.950		08/01/28	188,688
	2,150,000		4.450		01/15/29	2,128,822

						2,317,510

Semiconductors^(c)(e)– 0.2%
Broadcom, Inc.
	1,531,000		3.137		11/15/35	1,298,594

Software^(c)– 1.7%
Fidelity National Information Services, Inc.
	2,125,000		4.550		03/10/29	2,108,659
MSCI, Inc.^(e)
	1,547,000		3.875		02/15/31	1,464,777
Oracle Corp.
	3,350,000		4.450		09/26/30	3,233,788
	4,050,000		4.950		02/04/31	3,966,975
	1,925,000		4.800		09/26/32	1,831,618
	1,175,000		5.350		05/04/33	1,141,172

						13,746,989

Sovereign^(c)(e)– 0.3%
Eagle Funding Luxco SARL
	2,450,000		5.500		08/17/30	2,453,709

Telecommunication Services – 0.8%
NTT Finance Corp.^(e)
	1,625,000		4.620		07/16/28	1,620,174
	725,000		4.876	^(c)	07/16/30	723,506
Orange SA^(c)(e)
	1,225,000		4.000		01/13/29	1,209,026
Rogers Communications, Inc.^(c)
	1,074,000		5.000		02/15/29	1,080,691
Telefonica Emisiones SA
GBP	450,000		5.445		10/08/29	605,730
T-Mobile USA, Inc.^(c)
$	656,000		3.750		04/15/27	652,412
Verizon Communications, Inc.
	149,000		4.329		09/21/28	148,513

						6,040,052

Trucking & Leasing^(c)(e)– 0.1%
Penske Truck Leasing Co. LP/PTL Finance Corp.
	500,000		5.250		07/01/29	506,090


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Water^(c)– 0.2%
Veolia Environnement SA
EUR	1,300,000		1.940	%	01/07/30	$ 1,424,687

TOTAL CORPORATE OBLIGATIONS (Cost $ 191,358,471)						$193,236,019



Asset-Backed Securities^(c)– 15.8%
Automotive – 1.2%
BMW Vehicle Lease Trust Series 2025-1, Class A3
$	1,775,000		4.430	%	06/26/28	$ 1,777,149
Exeter Automobile Receivables Trust Series 2025-1A, Class A3
	65,934		4.670		08/15/28	65,949
Exeter Automobile Receivables Trust Series 2025-3A, Class A3
	1,477,815		4.780		07/16/29	1,480,286
Ford Credit Auto Owner Trust Series 2025-2, Class A^(e)(f)
	2,400,000		4.370		02/15/38	2,377,969
Nissan Auto Receivables Owner Trust Series 2023-B, Class A3
	106,528		5.930		03/15/28	106,952
Santander Drive Auto Receivables Trust Series 2025-1, Class A3
	743,196		4.740		01/16/29	744,077
Toyota Auto Loan Extended Note Trust Series 2025-1A, Class A^(e)
	2,525,000		4.650		05/25/38	2,532,950

						9,085,332

Collateralized Loan Obligations^(e)– 13.5%
AGL CLO 3 Ltd. Series 2020-3A, Class A1R^(b) (3 mo. USD Term SOFR + 1.150%)
	2,100,000		4.823		04/15/38	2,096,050
Aligned Data Centers Issuer LLC Series 2026-1A, Class A2I
	1,000,000		5.909		06/15/56	1,002,227
ARES European CLO XXI DAC Series 21A, Class B^(b) (3 mo. EUR EURIBOR + 1.700%)
EUR	540,000		3.904		04/15/38	616,634
ARES XLI CLO Ltd. Series 2016-41A, Class A1R3^(b) (3 mo. USD Term SOFR + 1.260%)
$	4,125,000		4.875		04/15/39	4,127,768
Arini European CLO IX DAC Series 9A, Class B^(b) (3 mo. EUR EURIBOR + 2.000%)
EUR	600,000		4.102		04/15/40	688,542
Arini European CLO VII DAC Series 7A, Class D^(b) (3 mo. EUR EURIBOR + 2.850%)
	1,400,000		4.945		01/15/39	1,601,775
Arini European CLO X DAC Series 10A, Class A^(b) (-1X 3 mo. EUR EURIBOR + 1.280%)
	5,500,000		0.000		07/15/40	6,284,299
Aurium CLO VIII DAC Series 8A, Class CR^(b) (3 mo. EUR EURIBOR + 2.150%)
	1,400,000		4.393		10/16/38	1,604,117
Birch Grove CLO 13 Ltd. Series 2025-13A, Class A1^(b) (3 mo. USD Term SOFR + 1.310%)
$	3,725,000		4.976		10/23/38	3,726,997
Birch Grove CLO 3 Ltd. Series 2021-3A, Class A1R^(b) (3 mo. USD Term SOFR + 1.260%)
	2,375,000		4.935		01/19/38	2,383,970
Birch Grove CLO 7 Ltd. Series 2023-7A, Class A1R^(b) (3 mo. USD Term SOFR + 1.260%)
	3,900,000		4.935		10/20/38	3,901,072

GOLDMAN SACHS GLOBAL CORE FIXED INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Asset-Backed Securities^(c)– (continued)
Collateralized Loan Obligations^(e)– (continued)
Bridgepoint CLO IX DAC Series 9A, Class B^(b) (3 mo. EUR EURIBOR + 1.800%)
EUR	1,125,000		3.914	%	10/15/39	$ 1,287,967
Carlyle U.S. CLO Ltd. Series 2022-3A, Class D1R2^(b) (3 mo. USD Term SOFR + 2.800%)
$	1,750,000		6.475		04/20/39	1,740,116
CIFC Funding Ltd. Series 2020-1A, Class A1R2^(b) (3 mo. USD Term SOFR + 1.250%)
	4,680,000		4.888		07/15/39	4,685,644
CVC Cordatus Loan Fund III DAC Series 3A, Class B1R3^(b) (3 mo. EUR EURIBOR + 1.650%)
EUR	1,400,000		3.845		05/26/38	1,599,856
Dryden 108 CLO Ltd. Series 2022-108A, Class A1R^(b) (3 mo. USD Term SOFR + 1.360%)
$	4,375,000		5.035		07/18/37	4,375,000
Elmwood CLO 41 Ltd. Series 2025-4A, Class A^(b) (3 mo. USD Term SOFR + 1.350%)
	6,000,000		5.030		07/17/38	6,007,512
GoldenTree Loan Management U.S. CLO Ltd. Series 2026-29A, Class A^(b) (3 mo. USD Term SOFR + 1.230%)
	1,950,000		4.869		04/20/38	1,950,628
Henley CLO XVII DAC Series 17A, Class B^(b) (3 mo. EUR EURIBOR + 1.850%)
EUR	1,400,000		4.143		07/25/39	1,602,022
Henley CLO XVII DAC Series 17A, Class A^(b) (3 mo. EUR EURIBOR + 1.280%)
	4,500,000		3.573		07/15/38	5,143,232
Kennedy Lewis CLO 22 Ltd. Series 2025-22A, Class A^(b) (3 mo. USD Term SOFR + 1.330%)
$	2,700,000		5.005		07/20/38	2,704,744
Neuberger Berman CLO XVII Ltd. Series 2014-17AR, Class A1R4^(b)(3 mo. USD Term SOFR + 1.220%)
	3,725,000		4.865		07/22/40	3,724,981
OCP CLO Ltd. Series 2020-18AR, Class A1R3^(b) (-1X 3 mo. USD Term SOFR + 1.220%)
	4,450,000		0.000		07/21/39	4,449,978
OHA Credit Funding 7 Ltd. Series 2020-7A, Class A1R2^(b) (3 mo. USD Term SOFR + 1.280%)
	2,725,000		4.955		07/19/38	2,726,937
OHA Loan Funding Ltd. Series 2013-1AR, Class A1R4^(b) (3 mo. USD Term SOFR + 1.190%)
	4,250,000		4.930		07/23/39	4,253,162
Palmer Square European CLO DAC Series 2026-2A, Class A^(b) (-1X 3 mo. EUR EURIBOR + 1.250%)
EUR	5,200,000		0.000		08/15/39	5,941,519
Penta CLO DAC Series 2021-2A, Class BR^(b) (3 mo. EUR EURIBOR + 1.650%)
	1,300,000		3.854		04/15/38	1,479,486
Pikes Peak CLO 19 Series 2025-19A, Class A1^(b) (3 mo. USD Term SOFR + 1.340%)
$	3,325,000		5.015		07/20/38	3,332,538
Pikes Peak CLO 5 Series 2020-5A, Class A1R^(b) (3 mo. USD Term SOFR + 1.400%)
	1,875,000		5.075		10/20/37	1,880,481
Regatta 30 Funding Ltd. Series 2024-4A, Class A1^(b) (3 mo. USD Term SOFR + 1.320%)
	5,175,000		4.987		01/25/38	5,186,644


Principal Amount		Interest Rate			Maturity Date	Value

Asset-Backed Securities^(c)– (continued)
Collateralized Loan Obligations^(e)– (continued)
Regatta XXV Funding Ltd. Series 2023-1A, Class A1R^(b) (3 mo. USD Term SOFR + 1.340%)
$	3,025,000		5.013	%	07/15/38	$ 3,029,096
Regatta XXVIII Funding Ltd. Series 2024-2AR, Class A1R^(b) (3 mo. USD Term SOFR + 1.230%)
	3,000,000		4.975		07/25/39	3,002,022
Sunnova Hestia I Issuer LLC Series 2023-GRID1, Class 1A
	148,439		5.750		12/20/50	144,789
Trimaran CAVU Ltd. Series 2026-1A, Class A^(b) (3 mo. USD Term SOFR + 1.280%)
	4,175,000		5.020		07/22/39	4,183,847
Venture 36 CLO Ltd. Series 2019-36A, Class D^(b) (3 mo. USD Term SOFR + 4.412%)
	900,000		8.087		04/20/32	880,241
Voya CLO Ltd. Series 2019-1A, Class A1RR^(b) (3 mo. USD Term SOFR + 1.370%)
	1,150,000		5.043		10/15/37	1,151,534
WISE CLO Ltd. Series 2023-2A, Class A1R^(b) (3 mo. USD Term SOFR + 1.100%)
	2,950,000		4.773		04/15/39	2,952,968

						107,450,395

Credit Card – 0.5%
Citibank Credit Card Issuance Trust Series 2025-A2, Class A
	1,675,000		4.490		06/21/32	1,676,108
WF Card Issuance Trust Series 2025-A1, Class A
	2,325,000		4.340		05/15/30	2,324,904

						4,001,012

Home Equity^(b)(e)– 0.0%
JP Morgan Mortgage Trust Series 2023-HE3, Class A1 (1 mo. USD Term SOFR + 1.600%)
	225,343		5.209		05/20/54	225,805

Student Loan^(b)(e)– 0.6%
ECMC Group Student Loan Trust Series 2017-1A, Class A (1 mo. USD Term SOFR + 1.314%)
	1,803,054		4.942		12/27/66	1,844,995
Navient Student Loan Trust Series 2017-2A, Class A (1 mo. USD Term SOFR + 1.164%)
	2,540,397		4.792		12/27/66	2,558,239
PHEAA Student Loan Trust Series 2016-1A, Class A (1 mo. USD Term SOFR + 1.264%)
	523,797		4.892		09/25/65	521,642

						4,924,876

TOTAL ASSET-BACKED SECURITIES (Cost $ 125,870,947)						$125,687,420



U.S. Treasury Obligations – 1.6%
U.S. Treasury Bills⁽ⁱ⁾
$	8,090,000		0.000	%	09/10/26	$ 8,032,015
U.S. Treasury Inflation-Indexed Bonds
	6,003,253		1.500		02/15/53	4,563,176

TOTAL U .S. TREASURY OBLIGATIONS (Cost $12,726,008)						$ 12,595,191

GOLDMAN SACHS GLOBAL CORE FIXED INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)



Shares		Description	Value

Exchange Traded Funds – 0.1%
	3,755	Vanguard Intermediate-Term Corporate Bond ETF	$ 310,351
(Cost $306,202)


Shares		Dividend Rate	Value

Investment Company^(m)– 0.0%
Goldman Sachs Central Government Fund — Institutional Shares
	35,738	3.703%	$ 35,738
(Cost $35,738)

TOTAL INVESTMENTS – 107.9% (Cost $873,279,801)			$856,903,777

LIABILITIES IN EXCESS OF OTHER ASSETS – ( 7.9)%			(62,541,040)

NET ASSETS – 100.0%			$794,362,737



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

(a)		Interest Only Inverse Floaters.



(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 June 30, 2026.

(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 June 30, 2026.

(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 $74,057,929 which represents approximately 9.2% of net assets as of June 30, 2026.

(h)		Guaranteed by a foreign government until maturity. Total market value of these securities amounts to $9,797,237, which represents approximately 1.2% of the Fund’s net assets as of June 30, 2026.

(i)		Issued with a zero coupon. Income is recognized through the accretion of discount.

(j)		Actual maturity date is September 20, 2117.

(k)		Actual maturity date is June 30, 2120.

(l)		Actual maturity date is July 28, 2121.

(m)		Represents an affiliated issuer.

GOLDMAN SACHS GLOBAL CORE FIXED INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS — At June 30, 2026, 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.	CAD	1,460,331		USD	1,032,039		09/17/26	$	1,250
	CHF	2,462,664		USD	3,068,833		09/16/26		5,226
	COP	4,693,204,138		USD	1,335,987		07/10/26		33,711
	COP	2,334,644,000		USD	646,000		07/14/26		34,703
	COP	1,126,004,000		USD	326,000		08/03/26		809
	COP	1,036,295,898		USD	283,299		09/16/26		14,365
	EUR	527,038		USD	599,272		08/19/26		4,188
	EUR	3,471,337		USD	3,960,634		09/16/26		18,598
	GBP	271,181		USD	358,000		09/16/26		1,707
	IDR	26,468,795,332		USD	1,464,632		09/16/26		4,317
	INR	7,524,449		USD	79,147		07/02/26		340
	INR	61,938,500		USD	650,000		07/03/26		4,290
	INR	154,501,170		USD	1,619,000		07/09/26		12,666
	INR	71,093,115		USD	742,042		07/10/26		8,702
	INR	115,722,573		USD	1,220,252		07/13/26		1,484
	INR	154,660,812		USD	1,630,662		07/22/26		975
	INR	154,459,245		USD	1,627,000		07/24/26		2,247
	INR	254,219,035		USD	2,648,832		09/16/26		20,663
	NZD	1,714,260		USD	976,000		09/16/26		156
	TRY	119,911,391		USD	2,366,003		09/16/26		52,266
	TWD	50,769,664		USD	1,590,628		07/02/26		3,042
	TWD	50,901,930		USD	1,593,574		09/16/26		80
	USD	13,157,296		AUD	18,474,853		09/16/26		383,981
	USD	2,625,842		AUD	3,718,620		09/17/26		54,872
	USD	3,492,104		CAD	4,880,809		07/02/26		50,378
	USD	2,695,936		CAD	3,697,550		08/20/26		82,841
	USD	10,475,208		CAD	14,645,286		09/16/26		113,097
	USD	10,709,453		CHF	8,374,923		09/16/26		255,321
	USD	1,404,807		CLP	1,282,687,246		09/16/26		12,103
	USD	15,620,407		CNH	105,740,862		08/11/26		5,004
	USD	31,550,757		CNH	212,431,834		09/16/26		96,676
	USD	5,048,065		CZK	105,922,741		09/16/26		58,114
	USD	306,842,266		EUR	263,723,412		08/19/26		4,878,138
	USD	38,723,250		EUR	33,222,279		09/16/26		640,191
	USD	2,148,150		EUR	1,865,246		09/17/26		9,907
	USD	11,511,437		GBP	8,554,513		07/15/26		164,447
	USD	8,287,680		GBP	6,184,240		09/16/26		84,620
	USD	321,716		GBP	242,396		09/17/26		190
	USD	11,159,985		HUF	3,450,767,895		09/16/26		108,934
	USD	3,263,658		IDR	58,786,479,653		09/16/26		1,162
	USD	1,337,311		ILS	3,923,918		09/16/26		16,126
	USD	652,117		INR	61,688,595		07/02/26		452
	USD	655,534		INR	61,937,425		07/03/26		1,256
	USD	1,627,000		INR	153,686,420		07/22/26		5,643
	USD	2,261,741		INR	215,385,595		09/16/26		27
	USD	34,980,670		JPY	5,458,747,559		08/05/26		1,309,944
	USD	9,715,141		JPY	1,547,092,767		09/16/26		140,380
	USD	1,724,593		JPY	275,384,018		09/17/26		20,134
	USD	739,442		KRW	1,141,479,863		07/06/26		1,650
	USD	12,286,262		KRW	18,628,804,799		09/16/26		229,792
	USD	2,719,976		MXN	47,418,515		07/17/26		12,382
	USD	3,431,190		MXN	59,855,347		09/17/26		30,549
	USD	3,666,650		NOK	35,200,672		09/16/26		114,345
	USD	603,312		NZD	1,037,247		07/08/26		14,009
	USD	3,183,352		NZD	5,413,588		09/16/26		100,677
	USD	5,559,714		NZD	9,514,550		09/17/26		141,640
	USD	8,083,017		PLN	29,470,547		09/16/26		249,245
	USD	6,507,262		SEK	60,806,008		09/16/26		209,074
	USD	429,848		SEK	4,054,074		09/17/26		9,910
	USD	1,844,045		SGD	2,331,565		07/16/26		39,776
	USD	8,930,618		SGD	11,404,873		09/16/26		66,894
	USD	1,508,658		THB	49,511,129		09/16/26		8,669
	USD	3,556,764		TWD	112,692,512		09/16/26		28,552
	USD	821,799		ZAR	13,411,699		09/16/26		8,170
	ZAR	56,690,404		USD	3,425,299		09/16/26		13,862

TOTAL								$	9,998,919

GOLDMAN SACHS GLOBAL CORE FIXED INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (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	16,831,547		USD	11,799,962		09/16/26	$	(162,811	)
	BRL	3,732,461		USD	710,888		09/16/26		(1,163	)
	CAD	4,878,263		USD	3,511,956		07/02/26		(72,025	)
	CAD	5,360,775		USD	3,833,305		09/16/26		(40,347	)
	CHF	5,696,509		USD	7,195,373		09/16/26		(84,615	)
	CLP	1,291,533,354		USD	1,444,394		09/16/26		(42,085	)
	CNH	134,578,694		USD	19,979,241		09/16/26		(52,617	)
	CNH	76,331,148		USD	11,352,890		09/17/26		(49,865	)
	CZK	101,123,812		USD	4,854,983		09/16/26		(91,106	)
	EUR	83,935,053		USD	97,681,126		08/19/26		(1,575,233	)
	EUR	27,894,270		USD	32,269,727		09/16/26		(294,220	)
	EUR	470,856		USD	545,626		09/17/26		(5,855	)
	GBP	1,296,128		USD	1,736,746		09/16/26		(17,502	)
	GBP	1,508,789		USD	2,027,410		09/17/26		(26,080	)
	HUF	5,038,420,254		USD	16,380,099		09/16/26		(244,605	)
	ILS	2,625,053		USD	893,820		09/16/26		(9,963	)
	INR	115,810,021		USD	1,225,091		07/02/26		(1,699	)
	INR	7,768,297		USD	82,108		07/13/26		(94	)
	INR	214,277,342		USD	2,261,741		07/17/26		(250	)
	INR	154,141,980		USD	1,627,000		07/20/26		(574	)
	INR	80,808,537		USD	851,091		09/16/26		(2,539	)
	JPY	777,884,753		USD	4,923,626		08/05/26		(125,465	)
	JPY	2,871,574,156		USD	18,077,310		09/16/26		(305,502	)
	KRW	1,141,461,067		USD	744,627		07/06/26		(6,847	)
	KRW	1,965,906,600		USD	1,299,000		07/20/26		(27,863	)
	KRW	1,477,781,046		USD	963,320		07/31/26		(7,693	)
	KRW	11,607,145,658		USD	7,592,615		09/16/26		(80,528	)
	MXN	11,537,911		USD	668,860		07/17/26		(10,046	)
	MXN	28,246,860		USD	1,629,000		09/15/26		(23,914	)
	MXN	57,786,941		USD	3,295,739		09/17/26		(12,613	)
	NOK	38,626,170		USD	4,088,991		09/16/26		(190,999	)
	NZD	1,002,317		USD	586,550		07/08/26		(17,091	)
	NZD	12,399,331		USD	7,287,988		09/16/26		(227,400	)
	PLN	13,106,704		USD	3,532,890		09/16/26		(48,906	)
	PLN	3,628,135		USD	987,124		09/17/26		(22,704	)
	SEK	81,287,500		USD	8,695,321		09/16/26		(275,692	)
	SGD	11,645,896		USD	9,121,909		09/16/26		(70,864	)
	TWD	50,745,760		USD	1,612,000		07/02/26		(19,080	)
	TWD	185,897,731		USD	5,866,577		09/16/26		(46,432	)
	USD	917,387		BRL	4,859,657		09/16/26		(6,673	)
	USD	1,032,039		CAD	1,460,404		09/16/26		(1,254	)
	USD	4,843,215		CNH	32,724,759		09/16/26		(2,232	)
	USD	3,469,523		COP	12,361,235,712		09/16/26		(81,102	)
	USD	7,198,063		EUR	6,317,947		08/19/26		(36,006	)
	USD	4,784,396		EUR	4,189,831		09/16/26		(18,453	)
	USD	994,929		EUR	870,250		09/17/26		(2,690	)
	USD	1,990,614		GBP	1,507,380		09/16/26		(8,845	)
	USD	1,951,000		HUF	612,091,280		09/16/26		(9,217	)
	USD	346,465		IDR	6,269,976,720		09/16/26		(1,502	)
	USD	1,437,055		ILS	4,484,425		07/01/26		(69,925	)
	USD	1,493,802		ILS	4,454,637		09/28/26		(6,615	)
	USD	645,000		INR	61,645,875		07/02/26		(6,214	)
	USD	1,630,662		INR	154,486,332		07/09/26		(847	)
	USD	750,343		INR	71,154,943		07/10/26		(1,054	)
	USD	1,291,000		INR	123,384,098		07/13/26		(11,621	)
	USD	1,220,252		INR	115,799,449		07/20/26		(1,604	)
	USD	3,349,865		INR	324,215,823		09/16/26		(54,650	)
	USD	1,530,913		RON	7,073,695		09/16/26		(5,257	)
	USD	1,134,845		TRY	57,086,557		09/16/26		(16,427	)
	USD	3,183,453		TWD	101,515,424		07/02/26		(3,137	)
	USD	1,626,000		ZAR	26,988,673		09/16/26		(11,285	)
	ZAR	10,629,662		USD	648,000		09/16/26		(3,145	)

TOTAL								$	(4,654,642	)

GOLDMAN SACHS GLOBAL CORE FIXED INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

FORWARD SALES CONTRACTS — At June 30, 2026, 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		07/20/26	$	(2,000,000)	$	(1,774,449)
Government National Mortgage Association		4.000			TBA - 30yr		07/20/26		(2,000,000)		(1,856,953)
Government National Mortgage Association		4.500			TBA - 30yr		07/20/26		(6,000,000)		(5,760,419)
Government National Mortgage Association		5.000			TBA - 30yr		07/20/26		(2,000,000)		(1,971,556)
Uniform Mortgage-Backed Security		2.000			TBA - 30yr		07/13/26		(8,000,000)		(6,384,375)
Uniform Mortgage-Backed Security		3.000			TBA - 30yr		07/13/26		(3,000,000)		(2,616,328)
Uniform Mortgage-Backed Security		4.500			TBA - 30yr		07/13/26		(7,000,000)		(6,708,789)
Uniform Mortgage-Backed Security		4.000			TBA - 30yr		07/13/56		(6,000,000)		(5,605,547)

(PROCEEDS RECEIVED: $(32,679,844))										$	(32,678,416)

(a)

FUTURES CONTRACTS — At June 30, 2026, 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	255	09/28/26	$	30,174,813	$	257,959
10 Year U.S. Treasury Notes	469	09/21/26		51,538,703		37,145
20 Year U.S. Treasury Bonds	277	09/21/26		31,439,500		373,850
30 Year German Euro-Buxl	106	09/08/26		13,470,476		232,552
5 Year German Euro-Bund	185	09/08/26		26,917,254		228,800
5 Year U.S. Treasury Notes	595	09/30/26		63,692,891		60,165
Australian 10 Year Government Bonds	43	09/15/26		3,269,383		48,955
Australian 3 Year Government Bonds	87	09/15/26		6,300,163		32,680
Canada 10 Year Government Bonds	227	09/18/26		19,384,432		335,705
Euro BTP	13	09/08/26		1,772,801		21,597
Euro-Bobl	432	09/08/26		56,951,932		187,972
Euro-Schatz	331	09/08/26		40,074,132		61,731
French 10 Year Government Bonds	9	09/08/26		1,233,802		9,446
ICE 3M SONIA Index	208	03/16/27		66,226,727		143,047
ICE 3M SONIA Index	141	09/14/27		44,861,349		186,189
Japan 10 Year Government Bonds	10	09/14/26		7,858,175		21,010
Ultra Long U.S. Treasury Bonds	223	09/21/26		25,902,844		362,363

Total					$	2,601,166

GOLDMAN SACHS GLOBAL CORE FIXED INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

FUTURES CONTRACTS (continued)


Description	Number of Contracts	Expiration Date	Notional Amount			Unrealized Appreciation/ (Depreciation)

Short position contracts:
2 Year U.S. Treasury Notes	(192)	09/30/26	$	(39,577,500	)	$	2,465
3 Month SOFR	(320)	03/16/27		(76,768,000	)		(39,413	)
Ultra 10-Year U.S. Treasury Notes	(241)	09/21/26		(27,104,969	)		(148,262	)

Total						$	(185,210	)

TOTAL FUTURES CONTRACTS						$	2,415,956

SWAP CONTRACTS — At June 30, 2026, 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)

3.500%^(a)	3M KLIBOR^(a)	09/17/27	MYR	40,170	^(b)	$	(4,612	)	$	497		$	(5,109	)
1.250^(c)	12M JYOR^(c)	12/15/27	JPY	11,819,400	(b)		119,048			(256,793	)		375,841
12.750^(d)	1M BID Average^(d)	01/03/28	BRL	150			590			60			530
3.416^(c)	12M SOFR^(c)	04/22/28	$	19,740	^(b)		117,572			24,302			93,270
2.500^(d)	12M EURO^(d)	06/14/28	EUR	2,640	^(b)		(3,828	)		7,528			(11,356	)
3.927^(d)	12M SOFR^(d)	06/30/28	$	18,170	^(b)		29,292			(4,880	)		34,172
12M SOFR^(d)	4.021%^(d)	06/30/28		2,560	^(b)		(163	)		(97	)		(66	)
12M EURO^(c)	2.000^(c)	09/10/28	EUR	220,858	^(b)		(994,975	)		(243,613	)		(751,362	)
2.500^(c)	6M EURO^(e)	09/10/28		220,858	^(b)		493,222			(422,664	)		915,886
Mexico Interbank TIIE 28 Days^(f)	7.250^(f)	09/14/28	MXN	76,920	^(b)		(1,238	)		(19,528	)		18,290
3M CNRR^(a)	1.500^(a)	09/16/28	CNY	577,940	^(b)		162,903			(30,956	)		193,859
2.500^(e)	12M CDOR^(e)	09/16/28	CAD	53,840	^(b)		155,034			226,098			(71,064	)
3.750^(d)	12M GBP^(d)	09/16/28	GBP	4,490	^(b)		31,970			38,174			(6,204	)
6.000^(e)	12M MIBOR^(e)	09/16/28	INR	371,300	^(b)		(1,424	)		18,025			(19,449	)
3.000^(d)	12M SOFR^(d)	09/16/28	$	77,540	^(b)		1,494,242			1,396,529			97,713
3.250^(d)	12M SOFR^(d)	09/16/28		7,910	^(b)		114,821			101,475			13,346
1.250^(a)	12M THOR^(a)	09/16/28	THB	12,730	^(b)		432			452			(20	)
12M EURO^(d)	2.000^(d)	09/16/28	EUR	10	^(b)		(95	)		(140	)		45
3M STIBOR^(d)	2.500^(a)	09/16/28	SEK	298,330	^(b)		107,553			68,038			39,515
12M CDOR^(e)	2.750^(e)	09/16/28	CAD	180	^(b)		96			91			5
12M GBP^(d)	3.500^(d)	09/16/28	GBP	56,870	^(b)		(758,954	)		(858,433	)		99,479
4.750^(a)	3M AUDOR^(a)	09/16/28	AUD	22,570	^(b)		(100,565	)		(98,298	)		(2,267	)
5.000^(a)	3M AUDOR^(a)	09/16/28		15,180	^(b)		(117,414	)		(107,146	)		(10,268	)
3.500^(a)	3M KWCDC^(a)	09/16/28	KRW	11,846,090	^(b)		49,361			(5,576	)		54,937
6M PRIBOR^(d)	4.000^(e)	09/16/28	CZK	94,480	^(b)		(10,679	)		(56,711	)		46,032
12M CLICP^(e)	4.750^(e)	09/16/28	CLP	603,900	^(b)		3,857			(48	)		3,905
6M NIBOR^(d)	5.000^(e)	09/16/28	NOK	183,630	^(b)		51,061			26,688			24,373
6M BUBOR^(d)	6.250^(e)	09/16/28	HUF	528,920	^(b)		39,301			(26,132	)		65,433
3M JIBAR^(a)	6.750^(a)	09/16/28	ZAR	76,470	^(b)		(50,445	)		(24,834	)		(25,611	)
2.250^(d)	6M EURO^(e)	09/16/28	EUR	12,140	^(b)		125,675			163,469			(37,794	)
2.500^(d)	6M EURO^(e)	09/16/28		7,490	^(b)		36,366			45,463			(9,097	)
3.750^(d)	6M WIBOR^(e)	09/16/28	PLN	17,460	^(b)		9,267			57,516			(48,249	)
1M BID Average^(d)	13.250^(d)	01/02/29	BRL	41,940			(195,801	)		(98,385	)		(97,416	)
13.250^(d)	1M BID Average^(d)	01/02/29		13,990			65,314			(8,916	)		74,230

GOLDMAN SACHS GLOBAL CORE FIXED INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (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)

3.500%^(d)	12M GBP^(d)	09/16/29	GBP	330	^(b)	$	6,451		$	7,627		$	(1,176	)
1.250^(d)	12M JYOR^(d)	09/16/29	JPY	2,355,000	^(b)		188,978			202,428			(13,450	)
12M JYOR^(d)	1.771%^(d)	01/26/30		598,200	^(b)		(17,772	)		(17,686	)		(86	)
3.903^(d)	12M SOFR^(d)	11/30/30	$	42,720	^(b)		16,575			(16,598	)		33,173
3.979^(d)	12M SOFR^(d)	11/30/30		3,180	^(b)		(8,079	)		(704	)		(7,375	)
1M BID Average^(d)	12.750^(d)	01/02/31	BRL	10,380			(69,926	)		(20,949	)		(48,977	)
12.750^(d)	1M BID Average^(d)	01/02/31		3,930			26,474			10,149			16,325
2.500^(d)	12M EURO^(d)	04/16/31	EUR	7,440	^(b)		(14,381	)		62,349			(76,730	)
12M EURO^(d)	2.800^(d)	05/21/31		79,750	^(b)		450,399			96,855			353,544
3.000^(d)	6M EURO^(e)	05/21/31		79,750	^(b)		(379,433	)		(37,832	)		(341,601	)
Mexico Interbank TIIE 28 Days^(f)	7.750^(f)	09/11/31	MXN	38,930	^(b)		(2,331	)		(18,723	)		16,392
12M THOR^(a)	1.500^(a)	09/16/31	THB	22,130	^(b)		(4,103	)		(13,753	)		9,650
3M CNRR^(a)	1.500^(a)	09/16/31	CNY	130,440	^(b)		31,579			(109,427	)		141,006
1.500^(d)	12M JYOR^(d)	09/16/31	JPY	17,096,000	(b)		2,486,651			2,426,890			59,761
6M EURO^(d)	2.500^(e)	09/16/31	EUR	23,850	^(b)		(306,392	)		(406,656	)		100,264
12M GBP^(d)	3.750^(d)	09/16/31	GBP	20,500	^(b)		(408,890	)		(474,188	)		65,298
6M PRIBOR^(d)	4.000^(e)	09/16/31	CZK	20,910	^(b)		(5,999	)		(7,033	)		1,034
3M NZDOR^(e)	4.000^(a)	09/16/31	NZD	54,300	^(b)		407,090			181,749			225,341
3M JIBAR^(a)	7.000^(a)	09/16/31	ZAR	35,330	^(b)		(36,825	)		(31,522	)		(5,303	)
12M SOFR^(d)	3.584^(d)	04/22/32	$	28,820	^(b)		(405,950	)		(319,460	)		(86,490	)
2.000^(d)	12M JYOR^(d)	01/11/33	JPY	1,529,239	^(b)		170,204			(114,853	)		285,057
3.976^(d)	12M SOFR^(d)	04/30/33	$	23,080	^(b)		(50,270	)		(5,017	)		(45,253	)
2.500^(d)	12M JYOR^(d)	05/22/33	JPY	1,379,780	^(b)		(5,038	)		(6,906	)		1,868
12M EURO^(d)	2.800^(d)	08/15/35	EUR	8,920	^(b)		117,394			32,490			84,904
6M EURO^(d)	3.300^(e)	04/21/36		10,890	^(b)		101,098			(10,158	)		111,256
12M EURO^(d)	3.000^(d)	06/19/36		31,630	^(b)		85,808			(24,687	)		110,495
3.200^(d)	6M EURO^(e)	06/19/36		31,630	^(b)		(122,364	)		(11,505	)		(110,859	)
8.000^(f)	Mexico Interbank TIIE 28 Days^(f)	09/04/36	MXN	9,210	^(b)		6,900			14,984			(8,084	)
12M CHFOR^(d)	0.750^(d)	09/16/36	CHF	9,110	^(b)		215,790			79,323			136,467
12M JYOR^(d)	1.750^(d)	09/16/36	JPY	3,035,000	^(b)		(1,356,898	)		(1,260,248	)		(96,650	)
0.000^(d)	12M CHFOR^(d)	09/16/36	CHF	9,110	^(b)		—			—			—
4.000^(d)	12M GBP^(d)	09/16/36	GBP	2,430	^(b)		94,053			122,836			(28,783	)
3.750^(d)	12M SOFR^(d)	09/16/36	$	8,420	^(b)		194,837			161,180			33,657
2.000^(a)	12M THOR^(a)	09/16/36	THB	31,340	^(b)		2,537			2,695			(158	)
12M CDOR^(e)	3.000^(e)	09/16/36	CAD	2,040	^(b)		(19,490	)		(31,363	)		11,873
3M KWCDC^(a)	3.500^(a)	09/16/36	KRW	11,329,550	(b)		(278,360	)		(109,904	)		(168,456	)
7.750^(a)	3M JIBAR^(a)	09/16/36	ZAR	30,850	^(b)		8,415			37,154			(28,739	)
3.000^(d)	3M STIBOR^(a)	09/16/36	SEK	49,530	^(b)		(100,307	)		(16,574	)		(83,733	)
6M PRIBOR^(d)	4.250^(e)	09/16/36	CZK	11,040	^(b)		559			(11,060	)		11,619
6M WIBOR^(d)	4.500^(e)	09/16/36	PLN	8,700	^(b)		39,928			1,761			38,167
6M NIBOR^(d)	4.500^(e)	09/16/36	NOK	32,900	^(b)		62,060			36,457			25,603
6M AUDOR^(e)	5.000^(e)	09/16/36	AUD	6,730	^(b)		54,417			19,088			35,329
12M CLICP^(e)	5.250^(e)	09/16/36	CLP	135,210	^(b)		1,164			(956	)		2,120
2.750^(d)	6M EURO^(e)	09/16/36	EUR	16,740	^(b)		294,988			294,035			953
3M KLIBOR^(a)	3.750^(a)	09/17/36	MYR	9,370	^(b)		(41	)		3,945			(3,986	)
3.894^(d)	12M SOFR^(d)	04/22/37	$	16,180	^(b)		203,955			40,813			163,142
4.750^(d)	12M GBP^(d)	01/31/39	GBP	9,500	^(b)		(303,172	)		(177,501	)		(125,671	)
12M SOFR^(d)	4.629^(d)	04/14/41	$	33,350	^(b)		70,818			(13,980	)		84,798
12M JYOR^(d)	2.160^(d)	08/02/44	JPY	2,707,651	^(b)		(1,053,623	)		(1,552,469	)		498,846
3.600^(d)	6M EURO^(e)	04/21/46	EUR	7,670	^(b)		(94,619	)		(30,953	)		(63,666	)

GOLDMAN SACHS GLOBAL CORE FIXED INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (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)

12M JYOR^(d)	4.500%^(d)		05/21/46		JPY	1,743,000	^(b)	$	54,514		$	67,358		$	(12,844	)
12M JYOR^(d)	2.500^(d)		09/16/46			449,000	^(b)		(298,444	)		(252,820	)		(45,624	)
3.100%^(d)	12M EURO^(d)		08/15/54		EUR	3,876	^(b)		(103,294	)		(48,572	)		(54,722	)
4.048^(d)	12M SOFR^(d)		04/13/56		$	31,080	^(b)		(14,331	)		36,455			(50,786	)
2.750^(d)	12M JYOR^(d)		09/16/56		JPY	173,000	^(b)		132,770			108,586			24,184

TOTAL								$	1,032,858		$	(1,195,595	)	$	2,228,453

(a)

Payments made quarterly.

(b)

Represents forward starting interest rate swaps whose effective dates of commencement of accruals and cash flows occur subsequent to June 30, 2026.

(c)

Payments made at maturity.

(d)

Payments made annually.

(e)

Payments made semi-annually.

(f)

Payments made monthly.

OVER-THE-COUNTER CREDIT DEFAULT SWAP CONTRACTS


Reference Obligation/Index	Financing Rate Received/(Paid) by the Fund^(a)	Credit Spread at June 30, 2026^(b)		Counterparty		Termination Date	Notional Amount (000s)		Value			Upfront Premiums (Received) Paid			Unrealized Appreciation/ (Depreciation)

Protection Sold:
CMBX.NA.AAA.17	0.500%		0.661%		MS & Co. Int. PLC	12/15/56	$	3,800	$	(33,634	)	$	(46,980	)	$	13,346

(a)

Payments made quarterly.

(b)

CENTRALLY CLEARED CREDIT DEFAULT SWAP CONTRACTS


Referenced Obligation/Index	Financing Rate Received/(Paid) by the Fund^(a)	Credit Spread at June 30, 2026^(b)		Termination Date		Notional Amount (000s)		Value			Upfront Premiums (Received) Paid			Unrealized Appreciation/ (Depreciation)

Protection Purchased:
ICE CD ITXEU 45	(1.000)%		0.889%		06/20/31	EUR	14,610	$	(89,633	)	$	257,537		$	(347,170	)
Protection Sold:
CDX.NA.IG Ind 45	1.000		0.468		12/20/30	$	138,754		3,039,808			2,791,418			248,390
ICE CD ITXEB 45	1.000		0.516		06/20/31	EUR	21,016		545,323			249,734			295,589
Republic of Chile, 3.240%, 02/06/28	1.000		0.417		06/20/31	$	1,250		33,237			24,365			8,872
Republic of Indonesia, 2.150%, 07/28/31	1.000		0.896		06/20/31		1,740		8,473			(3,801	)		12,274
Republic of Peru, 8.750%, 11/21/33	1.000		0.627		06/20/31		1,150		19,574			9,395			10,179

TOTAL								$	3,556,782		$	3,328,648		$	228,134

(a)

Payments made quarterly.

(b)

GOLDMAN SACHS GLOBAL CORE FIXED INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

PURCHASED AND WRITTEN OPTIONS CONTRACTS — At June 30, 2026, 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
2Y IRS	BNP Paribas SA		2.000%		11/11/2026		5,740,000		EUR	5,740,000		$	1,731		$	86,276		$	(84,545	)
2Y IRS	Citibank NA		1.771		01/24/2028		2,629,999,999		JPY	2,629,999,999			46,876			100,011			(53,135	)

							2,635,739,999					$	48,607		$	186,287		$	(137,680	)

Puts
2Y IRS	Citibank NA		1.771		01/24/2028		2,630,000,002			2,630,000,002			125,036			100,011			25,025
1Y IRS	JPMorgan Securities, Inc.		1.690		06/23/2027		12,985,950,000			12,985,950,000			128,466			147,664			(19,198	)

							15,615,950,002					$	253,502		$	247,675		$	5,827

Total purchased option contracts							18,251,690,001					$	302,109		$	433,962		$	(131,853	)

Written option contracts
Calls
1M IRS	Barclays Bank PLC		4.137		07/08/2026		(3,880,000	)	$	(3,880,000	)		(38,907	)		(25,220	)		(13,687	)
1M IRS	Barclays Bank PLC		3.968		07/27/2026		(3,980,000	)		(3,980,000	)		(14,398	)		(23,382	)		8,984
1M IRS	Barclays Bank PLC		2.916		07/29/2026		(3,590,000	)	EUR	(3,590,000	)		(19,274	)		(19,749	)		475
1M IRS	BNP Paribas SA		3.091		07/06/2026		(3,430,000	)		(3,430,000	)		(61,017	)		(23,087	)		(37,930	)
1M IRS	BNP Paribas SA		2.981		07/20/2026		(3,490,000	)		(3,490,000	)		(30,044	)		(19,795	)		(10,249	)
2Y IRS	BNP Paribas SA		2.085		11/11/2026		(1,690,000	)		(1,690,000	)		(546	)		(86,343	)		85,797
1M IRS	Citibank NA		3.970		08/03/2026		(3,970,000	)	$	(3,970,000	)		(17,487	)		(25,864	)		8,377
1M IRS	JPMorgan Securities, Inc.		3.100		07/13/2026		(3,460,000	)	EUR	(3,460,000	)		(64,904	)		(23,138	)		(41,766	)
1M IRS	MS & Co. Int. PLC		4.036		07/20/2026		(3,950,000	)	$	(3,950,000	)		(21,090	)		(23,029	)		1,939

							(31,440,000	)				$	(267,667	)	$	(269,607	)	$	1,940

Puts
1M IRS	Barclays Bank PLC		4.137		07/08/2026		(3,880,000	)		(3,880,000	)		(2,394	)		(25,220	)		22,826
1M IRS	Barclays Bank PLC		3.968		07/27/2026		(3,980,000	)		(3,980,000	)		(33,315	)		(23,383	)		(9,932	)
1M IRS	Barclays Bank PLC		2.916		07/29/2026		(3,590,000	)	EUR	(3,590,000	)		(19,506	)		(19,750	)		244
1M IRS	BNP Paribas SA		3.091		07/06/2026		(3,430,000	)		(3,430,000)			(99	)		(23,087	)		22,988
1M IRS	BNP Paribas SA		2.981		07/20/2026		(3,490,000	)		(3,490,000	)		(7,354	)		(19,795	)		12,441
1M IRS	Citibank NA		3.970		08/03/2026		(3,970,000	)	$	(3,970,000	)		(36,105	)		(25,865	)		(10,240	)
1M IRS	JPMorgan Securities,
	Inc.		3.100		07/13/2026		(3,460,000	)	EUR	(3,460,000)			(931	)		(23,138	)		22,207
1M IRS	MS & Co. Int. PLC		4.036		07/20/2026		(3,950,000	)	$	(3,950,000	)		(17,440	)		(23,028	)		5,588

							(29,750,000	)				$	(117,144	)	$	(183,266	)	$	66,122

Total written option contracts							(61,190,000	)				$	(384,811	)	$	(452,873	)	$	68,062

TOTAL							18,190,500,001					$	(82,702	)	$	(18,911	)	$	(63,791	)

GOLDMAN SACHS GLOBAL CORE FIXED INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)



Currency Abbreviations:
AUD		— Australian Dollar
BRL		— Brazil Real
CAD		— Canadian Dollar
CHF		— Swiss Franc
CLP		— Chilean Peso
CNH		— Chinese Yuan Renminbi Offshore
CNY		— Chinese Yuan Renminbi
COP		— Colombia Peso
CZK		— Czech Republic Koruna
EUR		— Euro
GBP		— British Pound
HUF		— Hungarian Forint
IDR		— Indonesia Rupiah
ILS		— Israeli Shekel
INR		— Indian Rupee
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
LLC		— Limited Liability Company
LP		— Limited Partnership
MSCI		— Morgan Stanley Capital International
MTA		— Monthly Treasury Average
PLC		— Public Limited Company
REMICS		— Real Estate Mortgage Investment Conduits
SOFR		— Secured Overnight Financing Rate
STACR		— Structured Agency Credit Risk

Abbreviations:
1M IRS		— 1 Month Interest Rate Swaptions
1Y IRS		— 1 Year Interest Rate Swaptions
2Y IRS		— 2 Year Interest Rate Swaptions
AUDOR		— Australian Dollar Offered Rate
BUBOR		— Budapest Interbank Offered Rate
CDOR		— Canadian Dollar Offered Rate
CDX.NA.IG Ind 45		— CDX North America Investment Grade Index 45
CHFOR		— Swiss Franc Offered Rate
CLICP		— Sinacofi Chile Interbank Rate
CMBX		— Commercial Mortgage Backed Securities Index
CNRR		— China Fixing Repo Rate
EURO		— Euro Offered Rate
ICE		— Inter-Continental Exchange
ICE CD ITXEB		— iTraxx Europe Index
ICE CD ITXEU		— iTraxx Europe Sub Financials Index
JIBAR		— Johannesburg Interbank Agreed Rate
JYOR		— Japanese Yen Offered Rate
KLIBOR		— Kuala Lumpur Interbank Offered Rate
KWCDC		— South Korean Won Certificate of Deposit
MIBOR		— Mumbai Interbank Offered Rate
MS & Co. Int. PLC		— Morgan Stanley & Co. International PLC
NIBOR		— Norwegian Interbank Offered Rate
NZDOR		— New Zealand Dollar Offered Rate
PRIBOR		— Prague Interbank Offered Rate
SOFR		— Secured Overnight Financing Rate
SONIA		— Sterling Overnight Index Average
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

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – 77.7%
Advertising^(a)(b)– 0.6%
Clear Channel Outdoor Holdings, Inc.
$	40,000		7.750	%	04/15/28	$ 40,063
	309,000		7.875		04/01/30	321,508
	95,000		7.125		02/15/31	98,437
	106,000		7.500		03/15/33	111,730
Neptune Bidco U.S., Inc.
	135,000		10.375		05/15/31	139,870
	230,000		9.500		02/15/33	232,636

						944,244

Aerospace & Defense – 0.9%
Boeing Co.^(a)
	90,000		5.150		05/01/30	91,091
	25,000		3.250		02/01/35	21,689
	90,000		5.805		05/01/50	88,854
Howmet Aerospace, Inc.
	495,000		4.550	^(a)	11/15/32	486,238
	180,000		5.950		02/01/37	190,964
TransDigm, Inc.^(a)
	465,000		4.625		01/15/29	457,783
	220,000		4.875		05/01/29	216,632

						1,553,251

Agriculture^(a)– 0.6%
BAT Capital Corp.
	578,000		6.000		02/20/34	609,663
	480,000		5.625		08/15/35	494,904

						1,104,567

Airlines^(b)– 0.9%
Allegiant Travel Co.^(a)
	330,000		7.125		07/01/31	333,963
American Airlines, Inc./AAdvantage Loyalty IP Ltd.
	280,000		5.750		04/20/29	280,473
Azul Secured Finance LLP^(a)
	200,000		9.875		02/15/31	192,536
OneSky Flight LLC^(a)
	250,000		8.875		12/15/29	264,458
VistaJet Malta Finance PLC/Vista Management Holding, Inc.^(a)
	115,000		9.500		06/01/28	116,517
WestJet Airlines Ltd.^(a)
	265,000		8.000		02/14/31	265,954

						1,453,901

Apparel^(a)– 0.5%
Beach Acquisition Bidco LLC
EUR	100,000		5.250	^(b)	07/15/32	116,447
	142,000		5.250		07/15/32	165,355
(PIK 10.750%, Cash 10.000%)
$	210,809		10.000	^(b)(c)	07/15/33	239,207
Champ Acquisition Corp.^(b)
	375,000		8.375		12/01/31	393,712

						914,721

Automotive^(a)– 1.8%
American Axle & Manufacturing, Inc.^(b)
	95,000		6.375		10/15/32	94,650


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Automotive^(a)– (continued)
Clarios Global LP/Clarios U.S. Finance Co.^(b)
$	126,000		6.750	%	02/15/30	$ 129,806
	105,000		6.750		09/15/32	107,160
Dorman Products, Inc.^(b)
	75,000		6.250		06/15/34	75,833
Ford Motor Credit Co. LLC
	200,000		5.850		05/17/27	201,450
	460,000		6.054		11/05/31	465,750
Forvia SE
EUR	100,000		2.375		06/15/29	109,975
General Motors Financial Co., Inc.
$	475,000		6.150		07/15/35	495,159
Hyundai Capital America^(b)
	370,000		6.200		09/21/30	386,239
	475,000		5.400		06/23/32	482,130
Nissan Motor Acceptance Co. LLC^(b)
	310,000		6.125		09/30/30	304,727
Qnity Electronics, Inc.^(b)
	55,000		6.250		08/15/33	55,970
Schaeffler AG
EUR	100,000		4.750		08/14/29	116,832
ZF Europe Finance BV
	100,000		6.125		03/13/29	118,000

						3,143,681

Banks – 12.1%
Banco Mercantil del Norte SA^(a)(d)
(10 yr. CMT + 4.299%)
$	450,000		8.750	^(b)	05/20/35	464,625
(10 yr. CMT + 5.353%)
	200,000		7.625		01/10/28	199,980
Banco Santander SA
	600,000		2.749		12/03/30	544,140
	400,000		6.921		08/08/33	434,708
Bank of America Corp.^(a)(d)
(3 mo. USD Term SOFR + 1.252%)
	345,000		2.496		02/13/31	318,859
(5 yr. CMT + 3.231%)
	325,000		6.125		04/27/27	327,532
(Secured Overnight Financing Rate + 1.130%)
	705,000		5.045		02/06/37	694,277
(Secured Overnight Financing Rate + 1.220%)
	415,000		2.651		03/11/32	376,260
(Secured Overnight Financing Rate + 1.310%)
	410,000		5.511		01/24/36	418,766
(Secured Overnight Financing Rate + 1.530%)
	470,000		1.898		07/23/31	419,682
(Secured Overnight Financing Rate + 1.572%)
	420,000		5.489		04/23/37	418,946
(Secured Overnight Financing Rate + 2.150%)
	515,000		2.592		04/29/31	475,252
Bank of New York Mellon Corp.^(a)(d)
(5 yr. CMT + 2.034%)
	955,000		5.625		03/20/31	950,082
(5 yr. CMT + 2.297%)
	125,000		6.300		03/20/30	128,305

GOLDMAN SACHS INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Banks – (continued)
Barclays PLC^(a)(d)
(5 yr. CMT + 5.431%)
$	205,000		8.000	%	03/15/29	$ 214,994
(Secured Overnight Financing Rate + 1.506%)
	480,000		5.207		02/24/37	467,376
BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico^(a)(d)(5 yr. CMT + 2.650%)
	200,000		5.125		01/18/33	196,080
Citigroup, Inc.^(a)(d)
(5 yr. CMT + 2.572%)
	330,000		6.750		02/15/30	334,828
(Secured Overnight Financing Rate + 1.422%)
	370,000		2.976		11/05/30	349,469
Citizens Financial Group, Inc.^(a)(d) (Secured Overnight Financing Rate + 2.325%)
	435,000		6.645		04/25/35	467,851
Commerzbank AG^(a)(d)(5 yr. USD Secured Overnight Financing Rate ICE Swap Rate + 4.322%)
	200,000		7.500		10/09/30	208,522
Fifth Third Bancorp^(a)(d)(Secured Overnight Financing Rate + 2.127%)
	350,000		4.772		07/28/30	349,338
HSBC Holdings PLC^(a)(d)(5 yr. CMT + 2.513%)
	1,123,000		6.750		11/18/32	1,130,502
JPMorgan Chase & Co.^(a)(d)
(3 mo. USD Term SOFR + 2.515%)
	335,000		2.956		05/13/31	312,753
(5 yr. CMT + 2.152%)
	240,000		6.500		04/01/30	245,453
(Secured Overnight Financing Rate + 1.300%)
	380,000		5.193		02/05/37	374,448
(Secured Overnight Financing Rate + 1.315%)
	410,000		5.502		01/24/36	419,221
(Secured Overnight Financing Rate + 1.800%)
	765,000		4.586		04/26/33	752,913
M&T Bank Corp.^(a)(d)
(5 yr. CMT + 2.679%)
	360,000		3.500		09/01/26	357,376
(Secured Overnight Financing Rate + 1.850%)
	475,000		5.053		01/27/34	471,157
(Secured Overnight Financing Rate + 2.260%)
	405,000		6.082		03/13/32	422,609
Macquarie Bank Ltd. ^(a)(b)(d)(5 yr. CMT + 1.700%)
	635,000		3.052		03/03/36	573,411
Morgan Stanley^(a)(d)
(3 mo. USD Term SOFR + 1.890%)
	280,000		4.431		01/23/30	277,477
(Secured Overnight Financing Rate + 1.034%)
	405,000		1.794		02/13/32	352,378
(Secured Overnight Financing Rate + 1.143%)
	750,000		2.699		01/22/31	696,780
(Secured Overnight Financing Rate + 1.314%)
	435,000		4.892		10/22/36	421,267
(Secured Overnight Financing Rate + 1.590%)
	125,000		5.164		04/20/29	125,981
PNC Financial Services Group, Inc.^(a)(d)(5 yr. CMT + 3.238%)
	510,000		6.200		09/15/27	517,135


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Banks – (continued)
Royal Bank of Canada^(a)(d)(5 yr. CMT + 2.887%)
$	485,000		7.500	%	05/02/84	$ 504,890
Santander U.K. Group Holdings PLC^(a)(d)(Secured Overnight Financing Rate + 1.578%)
	480,000		5.136		09/22/36	466,738
State Street Corp.^(a)(d)
(5 yr. CMT + 2.135%)
	140,000		6.450		09/15/30	142,757
(5 yr. CMT + 2.613%)
	245,000		6.700		03/15/29	253,266
Truist Financial Corp.^(a)(d)
(10 yr. CMT + 4.349%)
	561,000		5.100		03/01/30	558,750
(5 yr. CMT + 3.003%)
	255,000		6.669		09/01/26	255,084
U.S. Bancorp^(a)(d)(5 yr. CMT + 2.541%)
	285,000		3.700		01/15/27	282,144
UBS Group AG^(a)(b)(d)
(1 yr. CMT + 1.100%)
	435,000		2.746		02/11/33	385,945
(5 yr. USD Secured Overnight Financing Rate ICE Swap Rate + 3.179%)
	240,000		7.125		08/10/34	242,124
Wells Fargo & Co.^(a)(d)
(5 yr. CMT + 2.767%)
	210,000		6.850		09/15/29	217,823
(5 yr. CMT + 3.606%)
	400,000		7.625		09/15/28	420,384
(Secured Overnight Financing Rate + 2.100%)
	390,000		4.897		07/25/33	387,184
Yapi ve Kredi Bankasi AS^(a)(b)(d)(5 yr. CMT + 5.278%)
	200,000		9.250		01/17/34	207,330

						20,535,152

Beverages^(a)– 1.0%
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc.
	390,000		4.700		02/01/36	379,571
Constellation Brands, Inc.
	505,000		4.950		11/01/35	491,214
Keurig Dr. Pepper, Inc.
	421,000		3.200		05/01/30	396,140
Maple Parent Holdings Corp.^(b)
	465,000		5.700		03/26/36	470,645

						1,737,570

Biotechnology^(a)– 0.2%
Amgen, Inc.
	291,000		5.250		03/02/33	296,151

Building Materials^(a)– 1.3%
Carrier Global Corp.
	465,000		5.900		03/15/34	490,342
Johnson Controls International PLC/Tyco Fire & Security Finance SCA
	270,000		4.900		12/01/32	270,089
MIWD Holdco II LLC/MIWD Finance Corp.^(b)
	90,000		5.500		02/01/30	84,775

GOLDMAN SACHS INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Building Materials^(a)– (continued)
Quikrete Holdings, Inc.^(b)
$	175,000		6.375	%	03/01/32	$ 178,691
	195,000		6.750		03/01/33	198,730
Smyrna Ready Mix Concrete LLC^(b)
	472,000		8.875		11/15/31	497,677
Standard Building Solutions, Inc.^(b)
	265,000		6.500		08/15/32	266,768
Standard Industries, Inc.^(b)
	230,000		4.375		07/15/30	218,505

						2,205,577

Chemicals^(a)– 1.7%
Avient Corp.^(b)
	180,000		7.125		08/01/30	183,269
Celanese U.S. Holdings LLC
	60,000		6.500		04/15/30	61,151
	85,000		6.750		04/15/33	86,610
Chemours Co.^(b)
	50,000		8.000		01/15/33	50,622
FMC Corp.^(b)
	355,000		8.000		06/01/31	369,353
International Flavors & Fragrances, Inc.^(b)
	266,000		2.300		11/01/30	239,868
Olympus Water U.S. Holding Corp.^(b)
	250,000		6.750		08/01/32	244,205
	200,000		7.250		02/15/33	197,660
Sasol Financing USA LLC
	987,000		5.500		03/18/31	916,528
Stonepeak Motion Holdco Ltd./Stonepeak Motion Finco LLC^(b)
	553,000		6.125		07/15/33	553,730

						2,902,996

Commercial Services^(a)– 2.0%
APi Group DE, Inc.^(b)
	365,000		4.125		07/15/29	350,232
	50,000		4.750		10/15/29	49,016
	335,000		5.750		06/01/34	332,273
Avis Budget Car Rental LLC/Avis Budget Finance, Inc.^(b)
	65,000		8.375		06/15/32	65,452
CoStar Group, Inc.^(b)
	75,000		2.800		07/15/30	67,529
EquipmentShare.com, Inc.^(b)
	90,000		9.000		05/15/28	91,911
	410,000		7.125		07/01/34	402,792
Garda World Security Corp.^(b)
	75,000		7.750		02/15/28	76,189
	95,000		8.250		08/01/32	97,211
	100,000		8.375		11/15/32	102,296
GXO Logistics, Inc.
	471,000		2.650		07/15/31	417,476
	465,000		6.500		05/06/34	487,194
Herc Holdings, Inc.^(b)
	165,000		7.000		06/15/30	170,909
Hertz Corp.^(b)
	107,000		12.625		07/15/29	87,020
Kapla Holding SAS^(b)
EUR	105,000		5.125		04/30/32	120,684


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Commercial Services^(a)– (continued)
Verisure Holding AB^(b)
EUR	151,000		4.125	%	01/02/32	$ 173,708
Verisure Midholding AB
	323,404		5.250		02/15/29	369,555

						3,461,447

Computers^(a)(b)– 0.6%
Ahead DB Holdings LLC
$	332,000		6.625		05/01/28	332,000
CACI International, Inc.
	180,000		6.375		06/15/33	182,563
Diebold Nixdorf, Inc.
	240,000		7.750		03/31/30	250,421
McAfee Corp.
	205,000		7.375		02/15/30	174,207
Virtusa Corp.
	114,000		7.125		12/15/28	90,106

						1,029,297

Cosmetics & Personal Care^(a)– 0.3%
Opal Bidco SAS^(b)
	485,000		6.500		03/31/32	494,666
Perrigo Finance Unlimited Co.
	85,000		6.125		09/30/32	81,328

						575,994

Diversified Financial Services – 5.5%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust^(a)
	435,000		4.750		01/15/33	425,195
Ally Financial, Inc.^(a)(d)(7 yr. CMT + 3.481%)
	555,000		4.700		05/15/28	538,411
Burford Capital Global Finance LLC^(a)(b)
	230,000		8.500		01/15/34	201,266
Capital One Financial Corp.^(a)(d)(3 mo. USD Term SOFR + 3.338%)
	290,000		5.500		10/30/27	289,635
Charles Schwab Corp.^(a)(d)(5 yr. CMT + 3.256%)
	265,000		5.000		06/01/27	264,634
Compute Financing LLC^(e)
	975,000		0.000		06/15/34	972,111
Credit Acceptance Corp.^(a)(b)
	175,000		6.625		03/15/30	175,590
Encore Capital Group, Inc.^(a)(b)
	580,000		6.625		06/01/32	580,702
Focus Financial Partners LLC^(a)(b)
	192,000		6.750		09/15/31	193,855
Freedom Mortgage Holdings LLC^(a)(b)
	340,000		9.250		02/01/29	353,372
	110,000		7.875		04/01/33	107,218
goeasy Ltd.^(a)(b)
	245,000		6.875		05/15/30	218,070
	287,000		6.875		02/15/31	252,371
Jane Street Group/JSG Finance, Inc.^(a)(b)
	250,000		6.125		11/01/32	249,840
Midcap Financial Issuer Trust^(a)(b)
	463,000		6.500		05/01/28	462,343
Navient Corp.^(a)
	300,000		5.500		03/15/29	287,907
	205,000		9.375		10/15/31	204,192

GOLDMAN SACHS INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Diversified Financial Services – (continued)
OneMain Finance Corp.^(a)
$	250,000		4.000	%	09/15/30	$ 231,090
	445,000		7.125		09/15/32	452,618
	275,000		6.750		09/15/33	272,360
Osaic Holdings, Inc.^(a)(b)
	211,000		6.750		08/01/32	211,422
	6,000		8.000		08/01/33	6,013
PennyMac Financial Services, Inc.^(a)(b)
	190,000		6.875		05/15/32	185,961
Rocket Cos., Inc.^(a)(b)
	205,000		6.125		08/01/30	208,735
	180,000		6.375		08/01/33	183,110
Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc.^(a)(b)
	578,000		4.000		10/15/33	520,344
SLM Corp.^(a)
	105,000		6.500		01/31/30	106,519
(Secured Overnight Financing Rate + 2.710%)
	235,000		6.495	^(d)	05/15/32	235,042
Sumisho Air Lease Corp.^(a)(b)
	470,000		5.500		03/24/36	468,134
United Wholesale Mortgage LLC^(a)(b)
	210,000		5.500		04/15/29	195,029
UWM Holdings LLC^(a)(b)
	263,000		6.250		03/15/31	234,154
VFH Parent LLC/Valor Co-Issuer, Inc.^(a)(b)
	125,000		7.500		06/15/31	130,738

						9,417,981

Electrical^(a)– 1.6%
AES Panama Generation Holdings SRL
	370,277		4.375		05/31/30	350,009
California Buyer Ltd./Atlantica Sustainable Infrastructure PLC^(b)
	415,000		6.375		02/15/32	415,971
NextEra Energy Capital Holdings, Inc.^(d)
(5 yr. CMT + 1.979%)
	180,000		6.500		08/15/55	184,723
(5 yr. CMT + 2.053%)
	125,000		6.375		08/15/55	127,301
NRG Energy, Inc.^(b)
	305,000		5.750		07/15/29	305,049
	120,000		5.875		05/15/34	119,329
	134,000		6.000		01/15/36	133,582
Pacific Gas & Electric Co.
	355,000		2.500		02/01/31	318,673
Talen Energy Supply LLC^(b)
	115,000		6.250		02/01/34	114,285
	115,000		6.500		02/01/36	115,899
Vistra Operations Co. LLC^(b)
	60,000		4.300		07/15/29	58,781
	470,000		5.550		04/30/36	467,528

						2,711,130

Engineering & Construction^(a)– 0.8%
Aeropuerto Internacional de Tocumen SA^(b)
	210,000		4.000		08/11/41	181,808
Brundage-Bone Concrete Pumping Holdings, Inc.^(b)
	245,000		7.500		02/01/32	254,202


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Engineering & Construction^(a)– (continued)
Global Infrastructure Solutions, Inc.^(b)
$	280,000		5.625	%	06/01/29	$ 279,882
	85,000		7.500		04/15/32	88,855
	290,000		6.375		07/15/34	292,024
Mexico City Airport Trust
	400,000		5.500		10/31/46	343,000

						1,439,771

Entertainment^(a)(b)– 0.7%
Cinemark USA, Inc.
	311,000		5.250		07/15/28	310,347
	85,000		7.000		08/01/32	87,712
Light & Wonder International, Inc.
	177,000		6.250		10/01/33	175,860
Rivers Enterprise Borrower LLC/Rivers Enterprise Finance Corp.
	262,000		6.625		02/01/33	266,017
SeaWorld Parks & Entertainment, Inc.
	290,000		5.250		08/15/29	283,298
Vail Resorts, Inc.
	145,000		5.625		07/15/30	145,070

						1,268,304

Environmental^(a)(b)– 0.9%
GFL Environmental Holdings U.S., Inc.
	360,000		5.500		02/01/34	352,073
Luna 1.5 SARL^(c)
	518,000		12.000		07/01/32	553,550
Luna 2 5 SARL
EUR	100,000		5.500		07/01/32	115,724
Waste Pro USA, Inc.
$	480,000		7.000		02/01/33	491,261

						1,512,608

Food & Drug Retailing^(a)– 1.8%
Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/ Albertsons LLC^(b)
	500,000		5.625		03/31/32	483,195
Fiesta Purchaser, Inc.^(b)
	183,000		9.625		09/15/32	179,664
J.M. Smucker Co.
	626,000		6.200		11/15/33	667,541
KeHE Distributors LLC/KeHE Finance Corp./NextWave Distribution, Inc.^(b)
	20,000		7.125		04/30/33	20,363
Kraft Heinz Foods Co.
	351,000		5.500		06/01/50	319,249
Mars, Inc.^(b)
	300,000		5.000		03/01/32	302,019
	400,000		5.200		03/01/35	401,568
Post Holdings, Inc.^(b)
	363,000		6.375		03/01/33	360,321
U.S. Foods, Inc.^(b)
	205,000		4.625		06/01/30	200,051
United Natural Foods, Inc.^(b)
	139,000		6.750		10/15/28	138,906

						3,072,877

GOLDMAN SACHS INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Gas^(a)(b)– 0.3%
UGI International LLC
EUR	427,000		5.000	%	06/01/31	$ 497,975

Hand/Machine Tools^(a)– 0.1%
Regal Rexnord Corp.
$	105,000		6.300		02/15/30	109,500

Healthcare Providers & Services^(a)– 1.6%
Charlotte Buyer, Inc.^(b)
	75,000		8.000		06/30/31	75,935
Global Medical Response, Inc.^(b)
	107,000		7.375		10/01/32	110,869
LifePoint Health, Inc.^(b)
	210,000		5.375		01/15/29	201,585
	345,000		7.000		05/01/34	330,510
Molina Healthcare, Inc.^(b)
	260,000		6.500		02/15/31	264,433
	235,000		6.250		01/15/33	235,533
Prime Healthcare Services, Inc.^(b)
	150,000		9.375		09/01/29	156,624
Solventum Corp.
	410,000		5.450		03/13/31	419,738
Team Health Holdings, Inc.^(b)
	71,000		8.375		06/30/28	71,427
(PIK 4.500%, Cash 9.000%)
	761,762		13.500	^(c)	06/30/28	778,940

						2,645,594

Home Builders^(a)– 0.4%
Installed Building Products, Inc.^(b)
	85,000		5.625		02/01/34	83,728
K Hovnanian Enterprises, Inc.^(b)
	49,000		8.000		04/01/31	50,565
	44,000		8.375		10/01/33	45,228
KB Home
	185,000		7.250		07/15/30	188,461
Risewell Homes, Inc.^(b)
	343,000		8.500		11/01/30	350,031

						718,013

Home Furnishings^(a)(b)– 0.1%
Whirlpool Corp.
	135,000		7.500		07/01/31	136,702

Housewares^(a)– 0.3%
Newell Brands, Inc.
	90,000		8.500	^(b)	06/01/28	94,145
	45,000		6.375		05/15/30	45,604
	75,000		6.625		05/15/32	75,949
Scotts Miracle-Gro Co.
	250,000		4.000		04/01/31	234,370

						450,068

Insurance^(a)– 3.0%
Acrisure LLC/Acrisure Finance, Inc.^(b)
	502,000		6.000		08/01/29	444,124
	50,000		6.750		07/01/32	44,952
American International Group, Inc.
	475,000		5.450		05/07/35	483,854


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Insurance^(a)– (continued)
APH Somerset Investor 2 LLC/APH2 Somerset Investor 2 LLC/APH3 Somerset Investor 2 LLC^(b)
$	310,000		7.875	%	11/01/29	$ 314,005
Ardonagh Finco Ltd.
EUR	125,000		6.875		02/15/31	143,472
Ardonagh Group Finance Ltd.^(b)
$	540,000		8.875		02/15/32	524,659
Asurion LLC/Asurion Co-Issuer, Inc.^(b)
	275,000		8.375		02/01/34	254,862
Broadstreet Partners Group LLC^(b)
	510,000		5.875		04/15/29	498,061
CRC Insurance Group LLC^(b)
	843,000		7.125		06/01/31	839,974
Howden U.K. Refinance PLC/Howden U.K. Refinance 2 PLC/Howden U.S. Refinance LLC^(b)
	820,000		8.125		02/15/32	738,197
HUB International Ltd.^(b)
	115,000		7.375		01/31/32	117,109
MetLife, Inc.
	480,000		5.300		12/15/34	488,366
(5 yr. CMT + 2.078%)
	80,000		6.350	^(d)	03/15/55	81,970
Ryan Specialty LLC^(b)
	135,000		5.875		08/01/32	132,820
USI, Inc.^(b)
	90,000		7.500		01/15/32	90,944

						5,197,369

Internet^(a)– 2.0%
Angi Group LLC^(b)
	67,000		3.875		08/15/28	56,689
Arches Buyer, Inc.^(b)
	64,000		6.125		12/01/28	63,004
Expedia Group, Inc.
	326,000		2.950		03/15/31	299,477
	485,000		5.400		02/15/35	480,218
Gen Digital, Inc.^(b)
	125,000		6.250		04/01/33	123,186
Match Group Holdings II LLC^(b)
	145,000		5.625		02/15/29	144,472
	110,000		3.625		10/01/31	98,778
Meta Platforms, Inc.
	575,000		5.625		11/15/55	521,076
	80,000		5.750		05/15/63	72,040
Prosus NV^(b)
EUR	120,000		2.031		08/03/32	122,712
Snap, Inc.^(b)
$	630,000		6.875		03/01/33	613,740
	360,000		6.875		03/15/34	348,556
United Group BV^(b)
EUR	175,000		4.625		08/15/28	200,058
Wayfair LLC^(b)
$	215,000		7.125		05/31/34	221,093

						3,365,099

Investment Companies^(a)(b)– 0.4%
Icahn Enterprises LP/Icahn Enterprises Finance Corp.
	425,000		10.000		11/15/29	419,318

GOLDMAN SACHS INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Investment Companies^(a)(b)– (continued)
JAB Holdings BV
$	250,000		2.200	%	11/23/30	$ 223,732

						643,050

Iron/Steel^(a)(b)– 0.5%
Hybar LLC
	400,000		7.375		07/01/34	401,828
Mineral Resources Ltd.
	120,000		7.000		04/01/31	124,294
	75,000		6.000		05/01/32	74,278
	315,000		6.250		05/01/34	310,539

						910,939

Leisure Time^(a)– 1.6%
Carnival Corp. Ltd.^(b)
	500,000		5.125		05/01/29	499,265
	60,000		7.000		08/15/29	62,188
	240,000		5.750		03/15/30	242,827
	200,000		6.125		02/15/33	202,484
MajorDrive Holdings IV LLC^(b)
	260,000		6.375		06/01/29	217,448
NCL Corp. Ltd. , Class C^(b)
	164,000		5.875		01/15/31	159,100
	82,000		6.250		09/15/33	79,610
Royal Caribbean Cruises Ltd.
	250,000		5.625	^(b)	09/30/31	252,478
	65,000		6.250	^(b)	03/15/32	66,477
	470,000		5.375		01/15/36	466,527
Viking Cruises Ltd.^(b)
	410,000		5.875		10/15/33	410,234

						2,658,638

Lodging^(a)– 0.8%
Choice Hotels International, Inc.
	550,000		3.700		01/15/31	519,068
Genting New York LLC/GENNY Capital, Inc.^(b)
	435,000		7.250		10/01/29	447,658
Hilton Grand Vacations Borrower LLC/Hilton Grand Vacations Borrower, Inc.^(b)
	350,000		5.000		06/01/29	341,555

						1,308,281

Machinery-Diversified^(a)– 0.1%
Otis Worldwide Corp.
	245,000		2.565		02/15/30	227,519

Media – 2.9%
AMC Global Media, Inc.^(a)(b)
	85,000		10.500		07/15/32	87,360
CCO Holdings LLC/CCO Holdings Capital Corp. ^(a)(b)
	278,000		4.750		03/01/30	263,794
Charter Communications Operating LLC/Charter Communications Operating Capital^(a)
	170,000		3.750		02/15/28	166,632
CSC Holdings LLC^(a)(b)
	200,000		5.750		01/15/30	47,084
Directv Financing LLC^(a)(b)
	120,000		8.875		02/01/30	122,264


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Media – (continued)
Directv Financing LLC/Directv Financing Co-Obligor, Inc.^(a)(b)
$	30,000		5.875	%	08/15/27	$ 29,969
	450,000		9.250		06/01/32	457,069
Discovery Global Holdings, Inc.^(a)
	115,000		4.279		03/15/32	103,047
	190,000		5.050		03/15/42	139,076
	200,000		5.141		03/15/52	133,932
DISH DBS Corp.
	110,000		5.250	^(a)(b)	12/01/26	109,384
	14,000		5.750	^(a)(b)	12/01/28	13,574
	7,000		5.125	^(f)	06/01/29	6,327
DISH Network Corp.^(a)(b)
	170,000		11.750		11/15/27	174,724
Gray Media, Inc.^(a)(b)
	91,000		4.750		10/15/30	65,394
	82,000		7.250		08/15/33	80,722
iHeartCommunications, Inc.^(a)(b)
	232,000		10.875		05/01/30	200,680
Nexstar Media, Inc.^(a)(b)
	455,000		6.500		09/15/33	455,164
	275,000		7.250		04/15/34	274,258
Paramount Global^(a)
	110,000		5.850		09/01/43	82,465
Sinclair Television Group, Inc.^(a)(b)
	430,000		8.125		02/15/33	443,102
Sirius XM Radio LLC^(a)(b)
	635,000		3.875		09/01/31	576,675
Space Exploration Technologies Corp.^(a)(b)
	350,000		5.350		07/15/31	349,618
	350,000		5.875		07/15/36	345,366
Univision Communications, Inc.^(a)(b)
	175,000		9.375		08/01/32	177,893

						4,905,573

Miscellaneous Manufacturing – 0.2%
Axon Enterprise, Inc.^(a)(b)
	80,000		6.125		03/15/30	81,611
	80,000		6.250		03/15/33	82,035
General Electric Co.
	95,000		5.875		01/14/38	101,098

						264,744

Oil Field Services – 5.0%
Aethon United BR LP/Aethon United Finance Corp.^(a)(b)
	76,000		7.500		10/01/29	79,083
Archrock Partners LP/Archrock Partners Finance Corp.^(a)(b)
	170,000		6.625		09/01/32	173,142
Archrock Services LP/Archrock Partners Finance Corp.^(a)(b)
	205,000		6.000		02/01/34	203,653
BKV Upstream Midstream LLC^(a)(b)
	135,000		7.500		10/15/30	135,387
Caturus Energy LLC^(a)(b)
	130,000		7.125		05/15/31	128,608
Cenovus Energy, Inc.
	11,000		6.750		11/15/39	12,103
Chord Energy Corp.^(a)(b)
	185,000		6.000		10/01/30	185,836
	195,000		6.750		03/15/33	198,243

GOLDMAN SACHS INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Oil Field Services – (continued)
CNX Resources Corp.^(a)(b)
$	175,000		7.250	%	03/01/32	$ 180,157
Crescent Energy Finance LLC^(a)(b)
	50,000		7.625		04/01/32	50,362
	485,000		7.375		01/15/33	481,920
DBR Land Holdings LLC^(a)(b)
	230,000		6.250		12/01/30	233,618
Expand Energy Corp.^(a)
	180,000		4.750		02/01/32	175,405
Kodiak Gas Services LLC^(a)(b)
	105,000		5.875		04/01/31	105,219
	150,000		6.500		10/01/33	151,842
	100,000		6.750		10/01/35	102,577
Kraken Oil & Gas Partners LLC^(a)(b)
	35,000		7.625		08/15/29	35,323
	170,000		7.125		05/15/31	166,284
Matador Resources Co.^(a)(b)
	110,000		6.500		04/15/32	110,558
	191,000		6.250		04/15/33	190,251
	592,000		6.000		04/15/34	576,940
Murphy Oil Corp.^(a)
	142,000		6.000		10/01/32	141,381
Noble Finance II LLC^(a)(b)
	275,000		8.000		04/15/30	284,900
	470,000		6.250		06/15/34	460,581
Northern Oil & Gas, Inc.^(a)(b)
	355,000		8.750		06/15/31	365,657
	30,000		7.875		10/15/33	29,802
Permian Resources Operating LLC^(a)(b)
	83,000		5.875		07/01/29	83,018
	79,000		7.000		01/15/32	81,724
	115,000		6.250		02/01/33	117,452
Petroleos Mexicanos^(a)
	340,000		6.840		01/23/30	349,180
	170,000		5.950		01/28/31	168,147
	30,000		6.700		02/16/32	30,225
SM Energy Co.^(a)(b)
	90,000		6.750		08/01/29	91,618
	140,000		7.000		08/01/32	141,266
	100,000		9.625		06/15/33	109,617
Sunoco LP^(a)(b)
	190,000		7.000		05/01/29	195,548
	145,000		7.250		05/01/32	150,333
	35,000		6.250		07/01/33	35,290
(5 yr. CMT + 4.230%)
	350,000		7.875	^(d)	09/18/30	363,930
Tidewater, Inc.^(a)(b)
	265,000		9.125		07/15/30	283,661
Transocean International Ltd.^(a)(b)
	100,000		8.250		05/15/29	103,263
	21,700		8.750		02/15/30	22,501
	105,000		8.500		05/15/31	108,970
	75,000		7.875		10/15/32	78,051
USA Compression Partners LP/USA Compression Finance Corp.^(a)(b)
	165,000		7.125		03/15/29	169,042
	105,000		6.250		10/01/33	104,175
WBI Operating LLC^(a)(b)
	285,000		6.250		10/15/30	286,616


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Oil Field Services – (continued)
WBI Operating LLC^(a)(b) – (continued)
$	250,000		6.500	%	10/15/33	$ 251,540
Weatherford International Ltd.^(a)(b)
	145,000		6.750		10/15/33	147,945
Wildfire Intermediate Holdings LLC^(a)(b)
	95,000		7.500		10/15/29	97,413

						8,529,357

Packaging^(a)(b)(f)– 0.0%
ARD Finance SA (PIK 7.250%, Cash 6.500%)
	434,894		6.500		06/30/27	1,531

Pharmaceuticals^(a)(b)– 0.5%
1261229 BC Ltd.
	200,000		10.000		04/15/32	202,448
Adapthealth LLC
	95,000		4.625		08/01/29	91,735
	65,000		5.125		03/01/30	63,024
Amneal Pharmaceuticals LLC
	58,000		6.875		08/01/32	60,224
Bausch Health Cos., Inc.
	60,000		5.000		01/30/28	53,255
HLF Financing SARL LLC/Herbalife International, Inc.
	385,000		7.750		05/01/33	389,863

						860,549

Pipelines^(a)– 5.4%
Buckeye Partners LP^(b)
	185,000		6.875		07/01/29	189,046
	85,000		6.750		02/01/30	87,786
Cheniere Energy Partners LP
	40,000		5.950		06/30/33	41,768
CNX Midstream Partners LP^(b)
	145,000		4.750		04/15/30	138,120
Columbia Pipelines Operating Co. LLC^(b)
	345,000		6.036		11/15/33	362,081
CQP Holdco LP/BIP-V Chinook Holdco LLC^(b)
	685,000		5.500		06/15/31	671,814
Delek Logistics Partners LP/Delek Logistics Finance Corp.^(b)
	87,000		8.625		03/15/29	90,453
	255,000		7.375		06/30/33	260,097
Esentia Energy Development SAB de CV^(b)
	590,000		6.125		07/30/33	588,997
Excelerate Energy LP^(b)
	208,000		8.000		05/15/30	219,419
Genesis Energy LP/Genesis Energy Finance Corp.
	220,000		7.875		05/15/32	227,209
	455,000		6.750		03/15/34	451,547
Global Partners LP/GLP Finance Corp.
	440,000		6.875		01/15/29	444,215
Howard Midstream Energy Partners LLC^(b)
	115,000		7.375		07/15/32	119,032
	190,000		6.625		01/15/34	191,598
MPLX LP
	365,000		2.650		08/15/30	335,950
NuStar Logistics LP
	285,000		6.375		10/01/30	294,636
ONEOK, Inc.
	275,000		6.350		01/15/31	289,473

GOLDMAN SACHS INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Pipelines^(a)– (continued)
Plains All American Pipeline LP/PAA Finance Corp.
$	400,000		3.800	%	09/15/30	$ 383,576
Prairie Acquiror LP^(b)
	255,000		9.000		08/01/29	264,991
Rockies Express Pipeline LLC^(b)
	150,000		6.750		03/15/33	154,113
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.^(b)
	140,000		7.375		02/15/29	143,595
	75,000		6.000		12/31/30	75,044
	160,000		6.750		03/15/34	161,422
Targa Resources Partners LP/Targa Resources Partners Finance Corp.
	197,000		4.000		01/15/32	186,967
TransMontaigne Partners LLC^(b)
	460,000		8.500		06/15/30	468,607
Venture Global Calcasieu Pass LLC^(b)
	310,000		4.125		08/15/31	290,997
	282,000		3.875		11/01/33	251,352
	150,000		6.000		05/01/36	151,588
Venture Global LNG, Inc.^(b)
	30,000		9.500		02/01/29	32,330
	150,000		7.000		01/15/30	152,911
	425,000		6.375		12/15/34	417,626
	235,000		6.625		06/15/36	231,632
Venture Global Plaquemines LNG LLC^(b)
	130,000		6.125		12/15/30	132,978
	145,000		6.500		01/15/34	151,051
	135,000		6.500		06/15/34	140,576
	145,000		6.750		01/15/36	153,699
Western Midstream Operating LP^(b)
	160,000		7.250		04/01/30	167,896

						9,116,192

Real Estate^(a)(b)– 0.5%
Anywhere Real Estate Group LLC/Realogy Co-Issuer Corp.
	160,000		5.750		01/15/29	158,272
Kennedy-Wilson, Inc.
	165,000		7.000		06/01/31	168,856
	453,000		7.250		06/01/33	462,196

						789,324

Real Estate Investment Trust^(a)– 3.0%
Agree LP
	25,000		2.900		10/01/30	23,217
	475,000		5.600		06/15/35	486,927
Blackstone Mortgage Trust, Inc.^(b)
	775,000		6.250		06/01/31	748,511
Cousins Properties LP
	935,000		5.875		10/01/34	957,412
Iron Mountain Information Management Services, Inc.^(b)
	318,000		5.000		07/15/32	305,366
Iron Mountain, Inc. ^(b)
	240,000		6.250		01/15/35	240,902
MPT Operating Partnership LP/MPT Finance Corp.^(b)
	10,000		8.500		02/15/32	10,227
Realty Income Corp.
	355,000		2.850		12/15/32	315,300
	490,000		5.125		04/15/35	489,912


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Real Estate Investment Trust^(a)– (continued)
Regency Centers LP
$	490,000		5.100	%	01/15/35	$ 489,922
RHP Hotel Properties LP/RHP Finance Corp.^(b)
	45,000		6.500		06/15/33	46,175
Starwood Property Trust, Inc.^(b)
	215,000		6.500		07/01/30	219,526
	65,000		5.750		01/15/31	64,623
	195,000		6.125		06/01/31	196,203
Trust 2401^(b)
	200,000		4.869		01/15/30	193,999
Uniti Group LP/Uniti Group Finance 2019, Inc./CSL Capital LLC^(b)
	200,000		4.750		04/15/28	199,418
	100,000		8.625		06/15/32	104,491
WP Carey, Inc.
	25,000		2.400		02/01/31	22,465

						5,114,596

Retailing^(a)– 1.6%
Academy Ltd.^(b)
	185,000		5.875		05/15/31	184,954
Asbury Automotive Group, Inc.^(b)
	54,000		4.625		11/15/29	52,477
	55,000		5.000		02/15/32	52,527
Cougar JV Subsidiary LLC^(b)
	90,000		8.000		05/15/32	94,383
FirstCash, Inc. ^(b)
	290,000		6.875		03/01/32	297,934
	200,000		6.125		05/01/34	198,916
Group 1 Automotive, Inc.^(b)
	110,000		4.000		08/15/28	107,134
	45,000		6.375		01/15/30	45,584
LCM Investments Holdings II LLC^(b)
	410,000		4.875		05/01/29	399,611
Michaels Cos., Inc.^(b)
	370,000		8.500		03/15/33	366,278
	218,000		11.000		03/15/34	213,411
QXO Building Products, Inc. ^(b)
	315,000		6.500		07/15/31	320,991
	125,000		6.750		04/30/32	129,036
Staples, Inc.^(b)
	50,000		10.750		09/01/29	47,678
	10,000		12.750		01/15/30	7,654
Tractor Supply Co.
	75,000		1.750		11/01/30	65,996
Yum! Brands, Inc.^(b)
	135,000		4.750		01/15/30	132,794

						2,717,358

Semiconductors^(a)– 1.0%
Broadcom, Inc.
	372,000		3.469		04/15/34	333,866
	594,000		3.137	^(b)	11/15/35	503,831
	645,000		3.187	^(b)	11/15/36	539,401
NXP BV/NXP Funding LLC/NXP USA, Inc.
	360,000		3.400		05/01/30	342,907

						1,720,005

GOLDMAN SACHS INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Software^(a)– 4.8%
AppLovin Corp.
$	415,000		5.375	%	12/01/31	$ 420,574
	465,000		5.500		12/01/34	468,711
AthenaHealth Group, Inc.(b)
	376,000		6.500		02/15/30	360,554
CoreWeave, Inc.^(b)
	615,000		9.250		06/01/30	618,788
Elastic NV^(b)
	245,000		4.125		07/15/29	233,745
Fair Isaac Corp.^(b)
	849,000		6.000		05/15/33	835,976
	80,000		6.250		09/15/34	78,776
MSCI, Inc.
	748,000		3.875	^(b)	02/15/31	708,244
	490,000		5.250		09/01/35	479,671
Oracle Corp.
	850,000		2.950		04/01/30	782,451
	415,000		2.875		03/25/31	370,803
	580,000		6.250		11/09/32	596,089
	240,000		5.350		05/04/33	233,090
	220,000		5.700		02/04/36	213,314
Salesforce, Inc.
	705,000		4.900		09/15/31	703,357
	636,000		5.550		03/15/36	634,200
TeamSystem SpA^(b)
EUR	435,000		3.500		02/15/28	496,494

						8,234,837

Telecommunication Services – 5.3%
APLD ComputeCo LLC^(a)(b)
$	525,000		9.250		12/15/30	566,417
AT&T, Inc.^(a)
	482,000		2.550		12/01/33	405,005
	135,000		4.900		08/15/37	128,555
	315,000		5.150		11/15/46	280,401
	395,000		3.650		06/01/51	268,928
	420,000		3.500		09/15/53	272,463
Black Pearl Compute LLC^(a)(b)
	705,000		6.125		02/15/31	715,434
Core Scientific Finance I LLC^(a)(b)
	420,000		7.750		05/15/31	425,821
EchoStar Corp.^(a)
	220,000		10.750		11/30/29	237,803
(PIK 6.750%, Cash 6.750%)
	468,526		6.750	^(c)	11/30/30	476,027
ELK Grove Village Property LLC^(a)(b)
	587,000		7.500		06/15/31	590,645
Level 3 Financing, Inc.^(a)(b)
	220,000		6.875		06/30/33	225,918
	275,000		7.000		03/31/34	283,520
	455,000		8.500		01/15/36	488,966
	28,000		7.500		02/15/37	28,754
Meridian Arc Holdco LLC^(a)(b)
	415,000		6.250		04/30/31	415,751
PR RNO Property Owner 1 LLC^(a)(b)
	430,000		6.500		05/01/31	429,420


Principal Amount		Interest Rate			Maturity Date	Value

Corporate Obligations – (continued)
Telecommunication Services – (continued)
QTS Fayetteville I Dc1-2 LLC/QTS TRS Fayetteville I DC1-2 LLC^(a)(b)
$	400,000		5.700	%	04/15/36	$ 380,228
Sprint Capital Corp.
	325,000		8.750		03/15/32	382,840
SV RNO Property Owner 1 LLC^(a)(b)
	365,000		5.875		03/01/31	359,846
T-Mobile USA, Inc.^(a)
	402,000		3.875		04/15/30	389,566
	500,000		4.950		11/15/35	487,945
	475,000		5.000		02/15/36	464,284
Uniti Services LLC^(a)(b)
	285,000		7.500		10/15/33	300,156
Windstream Services LLC/Windstream Escrow Finance Corp.^(a)(b)
	90,000		8.250		10/01/31	94,912

						9,099,605

Transportation – 0.5%
Beacon Mobility Corp.^(a)(b)
	135,000		7.250		08/01/30	140,106
MV24 Capital BV
	403,260		6.748		06/01/34	401,848
Rand Parent LLC^(a)(b)
	240,000		8.500		02/15/30	248,441

						790,395

TOTAL CORPORATE OBLIGATIONS (Cost $131,393,075)						$132,294,033



Mortgage-Backed Obligations – 15.0%
Collateralized Mortgage Obligations^(a)– 1.3%
Interest Only – 0.1%
Government National Mortgage Association REMICS Series 2018- 124, Class SN (-1X 1 mo. USD Term SOFR + 6.086%)
$	106,183		2.447	%^(d)(g)	09/20/48	$ 11,670
Government National Mortgage Association REMICS Series 2020-7, Class GI
	46,946		4.000	^(h)	01/20/50	9,187
Government National Mortgage Association REMICS Series 2020-21, Class SA (-1X 1 mo. USD Term SOFR + 5.936%)
	136,660		2.297	^(d)(g)	02/20/50	15,200
Government National Mortgage Association REMICS Series 2019-153, Class EI
	266,610		4.000	^(h)	12/20/49	57,126
Government National Mortgage Association REMICS Series 2020-61, Class GI
	105,691		5.000	^(h)	05/20/50	24,605

						117,788

Regular Floater^(b)(d)– 0.5%
Chase Home Lending Mortgage Trust Series 2026-4, Class A11 (1 mo. USD Term SOFR + 1.300%)
	367,371		4.928		02/25/57	368,265

GOLDMAN SACHS INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Regular Floater^(b)(d)– (continued)
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2026-R03, Class 2M1 (1 mo. USD Term SOFR + 1.250%)
$	502,450		4.878	%	04/25/46	$ 502,573

						870,838

Sequential Fixed Rate^(b)(i)– 0.3%
OBX Trust Series 2024-NQM8, Class A1
	167,458		6.233		05/25/64	168,434
Verus Securitization Trust Series 2025-7, Class A1
	418,082		5.129		08/25/70	416,745

						585,179

Sequential Floating Rate^(b)(d)– 0.4%
CSMC Trust Series 2022-NQM1, Class A1
	290,731		3.265		11/25/66	264,044
Federal Home Loan Mortgage Corp. STACR REMICS Trust Series 2024-DNA2, Class M1 (1 mo. USD Term SOFR + 1.200%)
	117,593		4.828		05/25/44	117,724
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2022-R08, Class 1M2 (1 mo. USD Term SOFR + 3.600%)
	30,000		7.228		07/25/42	30,777
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2022-R05, Class 2M2 (1 mo. USD Term SOFR + 3.000%)
	84,085		6.628		04/25/42	85,090
Federal National Mortgage Association Connecticut Avenue Securities Trust Series 2024-R04, Class 1M2 (1 mo. USD Term SOFR + 1.650%)
	96,421		5.278		05/25/44	96,677

						594,312

TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS						$ 2,168,117

Commercial Mortgage-Backed Securities – 3.8%
Regular Floater^(b)(d)– 0.2%
TPG Trust Series 2024-WLSC, Class A (1 mo. USD Term SOFR + 2.133%)
$	200,000		5.758	%	11/15/29	$ 201,295
TPG Trust Series 2024-WLSC, Class B (1 mo. USD Term SOFR + 2.930%)
	100,000		6.556		11/15/29	101,644

						302,939

Sequential Fixed Rate – 0.7%
Morgan Stanley Capital I Trust Series 2017-HR2, Class A4
	275,000		3.587	^(a)	12/15/50	270,009
ROCK Trust Series 2024-CNTR, Class A
	250,000		5.388	^(b)	11/13/41	252,485
ROCK Trust Series 2024-CNTR, Class D
	300,000		7.109	^(b)	11/13/41	310,082
SLG Office Trust Series 2021-OVA, Class A
	500,000		2.585	^(b)	07/15/41	445,100

						1,277,676


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Sequential Floating Rate – 2.9%
Bank Series 2021-BN37, Class A5
$	210,000		2.618	%^(a)(d)	11/15/64	$186,367
Bank Series 2022-BNK42, Class A5
	400,000		4.493	^(a)(d)	06/15/55	388,019
Bank Series 2018-BN13, Class A5
	375,000		4.217	^(a)(d)	08/15/61	370,065
Bank Series 2021-BN33, Class AS
	500,000		2.792	^(a)	05/15/64	441,296
BBCMS Mortgage Trust Series 2018-TALL, Class A (1 mo. USD Term SOFR + 0.919%)
	550,000		4.545	^(b)(d)	03/15/37	522,739
BX Trust Series 2024-BIO, Class A (1 mo. USD Term SOFR + 1.642%)
	400,000		5.267	^(b)(d)	02/15/41	400,186
Durst Commercial Mortgage Trust Series 2025-151, Class A
	300,000		5.317	^(b)(d)	08/10/42	301,192
Hudson Yards Mortgage Trust Series 2025-SPRL, Class D
	150,000		6.551	^(b)(d)	01/13/40	153,244
IRV Trust Series 2025-200P, Class A
	350,000		5.471	^(a)(b)(d)	03/14/47	352,339
IRV Trust Series 2025-200P, Class D
	100,000		6.371	^(a)(b)(d)	03/14/47	101,153
LEX Mortgage Trust Series 2024-BBG, Class A
	250,000		5.036	^(a)(b)(d)	10/13/33	248,965
Manhattan West Mortgage Trust Series 2026-2MW, Class A
	400,000		5.499	^(b)(d)	06/10/48	402,902
NYC Commercial Mortgage Trust Series 2025-3BP, Class B (1 mo. USD Term SOFR + 1.692%)
	250,000		5.318	^(b)(d)	02/15/42	249,988
NYC Commercial Mortgage Trust Series 2026-9W57, Class A
	700,000		5.053	^(a)(b)(d)	06/06/40	696,778
NYC Commercial Mortgage Trust Series 2026-9W57, Class B
	200,000		5.353	^(a)(b)(d)	06/06/40	199,021

						5,014,254

TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES						$6,594,869

Federal Agencies^(j)– 9.9%
Government National Mortgage Association – 4.1%
$	1,000,000		4.500	%	TBA-30yr	$960,070
	2,000,000		5.500		TBA-30yr	2,009,721
	4,000,000		6.000		TBA-30yr	4,081,066

						7,050,857

Uniform Mortgage-Backed Security – 5.8%
	1,000,000		2.000		TBA-30yr	798,047
	1,000,000		2.500		TBA-30yr	835,352
	3,000,000		5.500		TBA-30yr	3,009,961
	3,000,000		6.000		TBA-30yr	3,064,687

GOLDMAN SACHS INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Mortgage-Backed Obligations – (continued)
Uniform Mortgage-Backed Security – (continued)
$	2,000,000		6.500	%	TBA-30yr	$ 2,068,594

						9,776,641

TOTAL FEDERAL AGENCIES						$ 16,827,498

TOTAL MORTGAGE-BACKED OBLIGATIONS (Cost $25,459,466)						$ 25,590,484



Sovereign Debt Obligations – 6.1%
Euro – 0.6%
Indonesia Government International Bonds
EUR	100,000		1.100	%	03/12/33	$ 93,383
Ivory Coast Government International Bonds^(b)
	500,000		4.875		01/30/32	564,587
Romania Government International Bonds
	290,000		2.875		03/11/29	323,461
	30,000		2.625	^(b)	12/02/40	23,124

						1,004,555

United States Dollar – 5.5%
Abu Dhabi Government International Bonds^(b)
$	200,000		3.875		04/16/50	154,125
Angola Government International Bonds
	410,000		9.244		01/15/31	425,272
	380,000		9.375		05/08/48	364,690
Argentina Republic Government International Bonds^(a)(i)
	328,248		0.750		07/09/30	290,547
	1,630,000		4.125		07/09/35	1,305,630
Benin Government International Bonds
	200,000		7.960		02/13/38	212,165
Benin Sukuk SA^(b)
	200,000		6.200		01/29/33	194,154
Congolese International Bonds
	860,000		9.500		05/26/36	830,760
Dominican Republic International Bonds^(b)
	240,000		4.875		09/23/32	228,240
Ecuador Government International Bonds^(b)
	30,632		0.000	^(k)	07/31/30	26,404
	400,000		8.750		01/29/34	404,360
	200,000		9.250		01/29/39	204,900
	46,400		5.000	⁽ⁱ⁾	07/31/40	38,908
Egypt Government International Bonds^(b)
	200,000		8.875		05/29/50	199,848
El Salvador Government International Bonds
	170,000		9.250	^(a)	04/17/30	183,111
	190,000		7.650		06/15/35	196,204
Mexico Government International Bonds^(a)
	603,000		3.500		02/12/34	514,033
Morocco Government International Bonds^(b)
	310,000		3.000		12/15/32	271,548
Republic of Uzbekistan International Bonds^(b)
	200,000		3.700		11/25/30	186,300
Serbia International Bonds^(b)
	930,000		5.500		05/06/36	912,125


Principal Amount		Interest Rate			Maturity Date	Value

Sovereign Debt Obligations – (continued)
United States Dollar – (continued)
Turkiye Government International Bonds
$	200,000		6.125	%	10/24/28	$ 201,784
	626,000		7.625		04/26/29	653,175
	250,000		7.125		07/17/32	256,188
	200,000		6.500		09/20/33	197,156
Ukraine Government International Bonds⁽ⁱ⁾
	54,803		4.500	^(b)	02/01/29	46,035
	10,241		0.000	^(b)	02/01/30	7,333
	38,270		0.000	^(b)	02/01/34	21,565
	79,801		4.500	^(b)	02/01/34	55,941
	33,651		4.500	^(b)	02/01/35	23,253
	30,000		4.500		02/01/35	20,730
	19,229		4.500	^(b)	02/01/36	13,114
Venezuela Government International Bonds^(f)
	1,570,000		7.650		04/21/25	696,687

						9,336,285

TOTAL SOVEREIGN DEBT OBLIGATIONS (Cost $10,444,326)						$ 10,340,840



Asset-Backed Securities^(a)(b)(d)– 5.5%
Collateralized Loan Obligations – 5.5%
CBAMR Ltd. Series 2020-12A, Class A1R2 (3 mo. USD Term SOFR + 1.250%)
$	500,000		4.925	%	01/20/39	$ 500,596
CIFC Funding Ltd. Series 2022-6A, Class BR (3 mo. USD Term SOFR + 1.750%)
	600,000		5.430		10/16/38	600,974
CIFC Funding Ltd. Series 2022-1AR, Class A1R (-1X 3 mo. USD Term SOFR + 1.220%)
	1,025,000		0.000		07/17/39	1,024,995
Diameter Capital CLO 4 Ltd. Series 2022-4A, Class ARR (3 mo. USD Term SOFR + 1.230%)
	1,425,000		4.903		01/15/39	1,425,855
GoldenTree Loan Management U.S. CLO Ltd. Series 2026-29A, Class A (3 mo. USD Term SOFR + 1.230%)
	400,000		4.869		04/20/38	400,129
Oaktree CLO Ltd. Series 2019-4A, Class ARR (3 mo. USD Term SOFR + 1.510%)
	250,000		5.185		07/20/37	250,000
OHA Credit Funding 13 Ltd. Series 2022-13A, Class AR (3 mo. USD Term SOFR + 1.350%)
	575,000		5.025		07/20/37	575,267
OHA Loan Funding Ltd. Series 2013-1AR, Class A1R4 (3 mo. USD Term SOFR + 1.190%)
	1,000,000		4.930		07/23/39	1,000,744
Park Blue CLO Ltd. Series 2024-6A, Class A1 (3 mo. USD Term SOFR + 1.340%)
	750,000		5.007		01/25/38	751,246
Sixth Street CLO XVI Ltd. Series 2020-16A, Class A1R2 (3 mo. USD Term SOFR + 1.170%)
	1,125,000		4.842		01/21/39	1,122,750
Warwick Capital CLO 1 Ltd. Series 2023-1A, Class AR (3 mo. USD Term SOFR + 1.280%)
	900,000		4.955		10/20/38	901,550

GOLDMAN SACHS INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)


Principal Amount		Interest Rate			Maturity Date	Value

Asset-Backed Securities^(a)(b)(d)– (continued)
Collateralized Loan Obligations – (continued)
Warwick Capital CLO 2 Ltd. Series 2023-2A, Class A1R (3 mo. USD Term SOFR + 1.310%)
$	800,000		4.971	%	03/15/39	$ 801,901

						9,356,007

TOTAL ASSET-BACKED SECURITIES (Cost $9,358,985)						$ 9,356,007



Bank Loans^(l)– 3.2%
Aerospace & Defense – 0.5%
Bleriot U.S. Bidco, Inc.
(3 mo. USD Term SOFR + 2.250%)
$	98,005		5.982	%	10/31/30	$ 97,913
Dynasty Acquisition Co., Inc.
(1 mo. USD Term SOFR + 2.000%)
	443,250		5.644		10/31/31	444,123
Kaman Corp.
(3 mo. USD Term SOFR + 2.250%)
	239,018		5.921		02/26/32	238,511

						780,547

Building Materials – 0.3%
Chamberlain Group, Inc.
(1 mo. USD Term SOFR + 3.000%)
	483,619		6.644		09/08/32	483,508

Capital Goods – Others – 0.2%
Engineered Machinery Holdings, Inc.
(3 mo. EUR EURIBOR + 3.500%)
EUR	72,000		5.791		11/26/32	82,781
(3 mo. USD Term SOFR + 3.250%)
$	180,618		6.982		11/26/32	181,413

						264,194

Commercial Services – 0.3%
Ankura Consulting Group LLC
(3 mo. USD Term SOFR + 3.500%)
	495,196		7.166		12/29/31	467,217

Diversified Financial Services – 0.2%
DRW Holdings LLC
(1 mo. USD Term SOFR + 3.500%)
	133,748		7.144		06/26/31	128,008

GEN II Fund Services LLC
(3 mo. USD Term SOFR + 2.750%)
	227,125		6.482		11/26/31	226,557

						354,565

Electrical – 0.1%
Kohler Energy Co. LLC
(3 mo. USD Term SOFR + 3.000%)
	91,824		6.732		05/01/31	91,882

Entertainment – 0.2%
Arcis Golf LLC
(1 mo. USD Term SOFR + 2.750%)
	168,657		6.394		11/24/28	168,868


Principal Amount		Interest Rate			Maturity Date	Value

Bank Loans^(l)– (continued)
Entertainment – (continued)
Crown Finance U.S., Inc.
(1 mo. USD Term SOFR + 4.500%)
$	246,263		8.114	%	12/02/31	$ 246,570

						415,438

Insurance – 0.2%
Broadstreet Partners, Inc.
(1 mo. USD Term SOFR + 2.500%)
	273,431		6.144		06/13/31	263,465
Lockton, Inc.
(3 mo. USD Term SOFR + 2.000%)
	85,000		5.657		05/09/33	84,681

						348,146

Internet – 0.0%
Plano HoldCo, Inc.
(3 mo. USD Term SOFR + 3.500%)
	87,187		7.232		10/02/31	68,006

Machinery – Construction & Mining – 0.0%
Clark Equipment Co.
(3 mo. USD Term SOFR + 2.000%)
	21,066		5.732		04/20/29	21,062

Midstream – 0.2%
AL GCX Holdings LLC
(1 mo. USD Term SOFR + 2.250%)
	74,812		5.863		12/17/32	74,786
Prairie ECI Acquiror LP
(1 mo. USD Term SOFR + 3.250%)
	319,345		6.894		08/01/29	320,063

						394,849

Retailers – 0.1%
TruGreen LP
(1 mo. USD Term SOFR + 8.500%)
	210,000		12.425		11/02/28	185,850

Technology – 0.7%
Go Daddy Operating Co. LLC
(1 mo. USD Term SOFR + 1.750%)
	447,721		5.394		11/09/29	437,487
LSF12 Crown U.S. Commercial Bidco LLC
(1 mo. USD Term SOFR + 3.000%)
	176,599		6.621		12/02/31	176,915
McAfee LLC
(1 mo. USD Term SOFR + 3.000%)
	198,990		6.644		03/01/29	176,106
Pitney Bowes, Inc.
(3 mo. USD Term SOFR + 3.750%)
	345,528		7.482		03/19/32	344,909

						1,135,417

Water Utilities – 0.2%
Deep Blue Operating I LLC
(3 mo. USD Term SOFR + 2.250%)
	349,125		5.902		10/01/32	349,781

TOTAL BANK LOANS (Cost $5,458,629)						$ 5,360,462

GOLDMAN SACHS INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)



Shares		Description	Value

	Common Stocks^(f)– 0.2%
	Building Products – 0.1%
	4,469	Madison Air Solutions Corp. Class A	$ 174,291

	Containers & Packaging – 0.0%
	9,746	Ardagh Holdings SA	63,474

	Media – 0.1%
	222	Audacy Capital Corp. Class B	511
	2,022	Audacy Capital LLC Class A	4,650
	22,301	iHeartMedia, Inc. Class A	95,671

			100,832

	TOTAL COMMON STOCKS (Cost $360,766)		$ 338,597


Shares		Dividend Rate	Value

	Preferred Stocks^(f)– 0.1%
	Software – 0.1%
	Oracle Corp.
	3,449	6.500%	$ 155,033
	(Cost $169,922)


Units		Expiration Date	Value

	Rights – 0.0%
	(f)
	Cineworld Group PLC
	2,800	12/31/99	$ 68,118

	TOTAL RIGHTS (Cost $71,148)		$ 68,118


Shares		Description	Value

	Contingent Value Rights^(m)– 0.0%
	Media – 0.0%
	4,216	SES SA	$ 62,186

	TOTAL CONTINGENT VALUE RIGHTS (Cost $—)		$ 62,186


Shares		Dividend Rate	Value

	Investment Company^(m)– 0.0%
	Goldman Sachs Central Government Fund — Institutional Shares
	3,171	3.703%	$ 3,171
	(Cost $3,171)

	TOTAL INVESTMENTS – 107.8% (Cost $182,719,488)		$183,568,931

	LIABILITIES IN EXCESS OF OTHER ASSETS – ( 7.8)%		(13,209,789)

	NET ASSETS – 100.0%		$170,359,142



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)		Pay-in-kind securities.

(d)		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 June 30, 2026.

(e)		Significant unobservable inputs were used in the valuation of this portfolio security; i.e., Level 3.

(f)		Security is currently in default and/or non-income producing.

(g)		Interest Only Inverse Floaters.

(h)		Security with a notional or nominal principal amount. The actual effective yield of this security is different than the stated interest rate.

(i)		Coupon changes periodically based upon a predetermined schedule. Interest rate disclosed is that which is in effect on June 30, 2026.

(j)		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 $16,827,498 which represents approximately 9.9% of net assets as of June 30, 2026.

(k)		Issued with a zero coupon. Income is recognized through the accretion of discount.

(l)		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 June 30, 2026. 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.

(m)		Represents an affiliated issuer.

GOLDMAN SACHS INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION

UNFUNDED LOAN COMMITMENTS — At June 30, 2026, the Fund had unfunded loan commitments which could be extended at the option of the borrowers, pursuant to the following loan agreements:


Borrower	Principal Amount		Current Value		Unrealized Gain (Loss)

Kaman Corp. (NR/B1), due 02/26/32	$	27,724	$	27,665	$	(154	)

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS — At June 30, 2026, 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.

EUR

1,108,230

USD

1,265,236

08/19/26

3,690

USD

3,890,842

EUR

3,341,258

08/19/26

65,092

TOTAL

68,782

FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS WITH UNREALIZED LOSS

Counterparty

Currency

Purchased

Currency

Sold

Settlement
Date

Unrealized
Loss

JPMorgan Securities, Inc.

USD

1,255,698

EUR

1,098,813

08/19/26

(2,446

)

FORWARD SALES CONTRACTS — At June 30, 2026, the Fund had the following forward sales contracts:


Description	Interest Rate			Maturity Date^(a)		Settlement Date		Principal Amount		Value

Uniform Mortgage-Backed Security		3.000	%		TBA - 30yr		07/13/26	$	(2,000,000)	$	(1,744,219)
Uniform Mortgage-Backed Security		3.500			TBA - 30yr		07/13/26		(2,000,000)		(1,815,547)
Uniform Mortgage-Backed Security		4.000			TBA - 30yr		07/13/26		(1,000,000)		(934,258)
Uniform Mortgage-Backed Security		4.500			TBA - 30yr		07/13/26		(3,000,000)		(2,875,195)
Uniform Mortgage-Backed Security		5.000			TBA - 30yr		07/13/26		(1,000,000)		(982,539)

(PROCEEDS RECEIVED: $(8,336,387))										$	(8,351,758)

(a)

FUTURES CONTRACTS — At June 30, 2026, 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	8	09/21/26	$	879,125	$	(2,750	)
2 Year U.S. Treasury Notes	197	09/30/26		40,608,164		(31,935	)
20 Year U.S. Treasury Bonds	20	09/21/26		2,270,000		8,031
5 Year U.S. Treasury Notes	106	09/30/26		11,346,969		(18,727	)

Total					$	(45,381	)

GOLDMAN SACHS INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)

FUTURES CONTRACTS (continued)


Description	Number of Contracts	Expiration Date	Notional Amount			Unrealized Appreciation/ (Depreciation)

Short position contracts:
3 Month SOFR	(42)	03/16/27	$	(10,075,800	)	$	(5,066	)
Ultra 10-Year U.S. Treasury Notes	(91)	09/21/26		(10,234,656	)		(85,455	)
Ultra Long U.S. Treasury Bonds	(42)	09/21/26		(4,878,563	)		(61,732	)

Total						$	(152,253	)

TOTAL FUTURES CONTRACTS						$	(197,634	)

SWAP CONTRACTS — At June 30, 2026, 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)

2.500%^(b)	12M CDOR^(b)		09/16/28		CAD	100	$	288	$	374	$	(86	)
2.500^(c)	6M EURO^(b)		09/16/29		EUR	330		2,272		2,964		(692	)
2.500^(c)	6M EURO^(b)		09/16/31			610		7,836		10,274		(2,438	)
2.750^(c)	6M EURO^(b)		09/16/33			550		2,372		6,002		(3,630	)
2.750^(c)	6M EURO^(b)		09/16/36			360		6,344		9,872		(3,528	)

TOTAL							$	19,112	$	29,486	$	(10,374	)

(a)

Represents forward starting interest rate swaps whose effective dates of commencement of accruals and cash flows occur subsequent to June 30, 2026.

(b)

Payments made semi-annually.

(c)

Payments made annually.

CENTRALLY CLEARED CREDIT DEFAULT SWAP CONTRACTS


Referenced Obligation/Index	Financing Rate Received/(Paid) by the Fund^(a)		Credit Spread at June 30, 2026^(b)		Termination Date		Notional Amount (000s)		Value		Upfront Premiums (Received) Paid		Unrealized Appreciation/ (Depreciation)

Protection Sold:
CDX.NA.HY Ind 45		5.000%		2.859%		12/20/30	$	4,288	$	353,612	$	313,309	$	40,303
CDX.NA.HY Ind 46		5.000		3.040		06/20/31		4,881		399,730		402,021		(2,291	)
CDX.NA.IG Ind 45		1.000		0.468		12/20/30		26,861		588,473		574,569		13,904

TOTAL									$	1,341,815	$	1,289,899	$	51,916

(a)

Payments made quarterly.

(b)

GOLDMAN SACHS INCOME FUND

Schedule of Investments (continued)

June 30, 2026 (Unaudited)

ADDITIONAL INVESTMENT INFORMATION (continued)



Currency Abbreviations:
CAD		— Canadian Dollar
EUR		— Euro
USD		— U.S. Dollar

Investment Abbreviations:
CLO		— Collateralized Loan Obligation
CMT		— Constant Maturity Treasury Indexes
EURIBOR		— Euro Interbank Offered Rate
ICE		— Inter-Continental Exchange
LLC		— Limited Liability Company
LP		— Limited Partnership
MSCI		— Morgan Stanley Capital International
PIK		— Payment in kind
PLC		— Public Limited Company
REMICS		— Real Estate Mortgage Investment Conduits
SOFR		— Secured Overnight Financing Rate
STACR		— Structured Agency Credit Risk

Abbreviations:
CDOR		— Canadian Dollar Offered Rate
CDX.NA.HY Ind 45		— CDX North America High Yield Index 45
CDX.NA.HY Ind 46		— CDX North America High Yield Index 46
CDX.NA.IG Ind 45		— CDX North America Investment Grade Index 45
EURO		— Euro Offered Rate